Document:

Exhibit 10.21

 

TECHNOLOGY LICENSE AGREEMENT

 

THIS AGREEMENT is
made as of this 27th day of February 2012 ("Effective Date") by and between Fuse Science Inc., a Delaware corporation,
("Fuse Science" or "LICENSOR") having its principal offices located at 6135 NW 167th Street, Suite E-21, Miami
Lakes, FL 33015 and Mission Product Holdings, Inc., (“Mission of “LICENSEE”) having its principal place of business
at 185 Madison Ave., 12th Floor, New York, NY 10016 (individually, a "Party," and collectively the "Parties").

 

WITNESSETH:

 

WHEREAS, LICENSOR
has certain ownership and exclusive right, pursuant to a licensing agreement dated September 15, 2011 ("Licensing Agreement")
with Cure IP Holdings LLC ("Cure IP") to provisional patent application rights, patent pending rights, patent rights,
trade secrets, know-how and related proprietary information directed t. certain formulations for bioactive agents, including but
not limited to transdermal and sublingual absorbed compositions (such Cure IP that is provided to LICENSEE hereunder is hereinafter
re cl to as the "Subject Technology");

 

WHEREAS, Cure IP has
filed certain pending patent applications with regard to the Subject Technology including but not limited to Provisional Patent
Application Serial Number 61/533,278 filed on or about September 12, 2011 before the United States Patent & Trademark Office
(“USPTO”);

 

WHEREAS, Cure IP has
developed and exclusively licensed the Subject Technology to LICENSOR certain proprietary formulations with regard to
u inactive agents for transdermal and sublingual application that may have benefit with athletic skin care preparations;

 

WHEREAS, LICENSOR
has established certain manufacturing and research & development relationships with Cure Pharmaceuticals Inc. located in Oxnard,
California, through its written agreements with Cure IP, to create drug delivery systems for use in administering nutraceutical
and pharmaceutical compositions based upon the Subject Technology for purposes of creating proprietary components and additions
to athletic skin care preparations;

 

WHEREAS, LICENSEE
sells, markets, advertises, promotes and distributes athletic skin care and other preparations, including but not limited to sun
block preparations, skin moisturizers, foot creams, muscle rubs and lip care products;

 

WHEREAS, LICENSEE has relations with various
retailers, distributors, wholesalers and on-line outlets for the purposes of selling athletic skin care preparations;

 

WHEREAS, LICENSEE
desires to license and have benefit to certain portions of the intellectual property relating to the Subject Technology, including
pending patent applications, know-how, and related proprietary information regarding these formulations for bioactive agents for
application with athletic skin care preparations via sublingual absorption modalities;

 

    	 

    	 

    

 

CONFIDENTIAL AND PROPRIETARY  

 

WHEREAS, LICENSEE
would like the benefit of having LICENSOR manufacture and supply certain drug delivery systems based upon the Subject Technology
on behalf of the LICENSEE; and

 

WHEREAS, LICENSOR
desires to allow LICENSEE to employ and include certain formulations in LICENSEE's skin care preparations.

 

NOW, THERE.PORE, in
consideration of the premises and the mutual covenants of this Agreement, the parties hereto agree as follows:

 

I.           LICENSE
GRANT

 

A.           Scope
of License: LICENSOR hereby grants to LICENSEE for the Term of this Agreement as defined below, a restricted right to use, include,
provide, distribute, advertise, promote, sell and offer for sale athletic skin care preparations that include formulations based
upon the Subject Technology. Accordingly, LICENSOR grants LICENSE the right to include bioactive agents that are based upon the
Subject Technology f purposes of offering drug delivery systems for administering OTC compositions through transdermal transfer
in the sports application positioning of the Mission Athletecare brand.

 

B.           Non-Exclusive
Rights to Patents and Patent Pending Right: LICENSEE shall have rights under LICENSOR’s exclusive rights to any and all patents,
pending patent applications, provisional patent applications, divisonals, continuation, and continuation-in-part applications both
in the United States, and any foreign patent rights including PCT patent applications that have been filed by the Effective Date
and assigned to Cure IP (and licensed through the License Agreement from Cure IP.

 

C.           Rights
to Proprietary Information: LICENSEE shall have full rights to LICENSOR’s proprietary information relating to the formulations
based upon the Subject Technology. LICENSEE shall have direct rights and access to LICENSOR’s trade secrets, know-how, or
internal proprietary information with regard to the Subject Technology, including but not limited to formulations, chemical compositions,
or methods of preparation to the extent such information is necessary for LICENSEE to exploit Subject Technology. Any such information
obtained by LICENSEE for purposed of commercializing and adding the Subject Technology to LICENSEE’s athletic skin care preparation
shall be based upon LICENSEE’s strict duty of confidentiality with regard to this information, as proscribed in Section IV
defined below.

 

D.           Rights
to New Formulations, Improved Formulas and Modified Bioactive Agents: LICENSEE shall have rights to benefit from and receive from
LICENSOR any new formulations, improved and modified formulas and advanced bioactive agents based upon the Subject Technology for
purposes of introduction in LICENSEE's athletic skin care preparations.

 

    	 

    	 

    

 

CONFIDENTIAL AND PROPRIETARY

 

E.           Rights
to Use Trademarks: LICENSEE shall have limited rights to use the name FUSE SCIENCE and any related registered or unregistered indicia,
slogans, marks, trade names or trade dress owned by LICENSOR for the limited purpose of accurately reflecting this affiliation
and relationship. However, LICENSEE shall confirm to LICENSOR's strict quality control guidelines and be subject to periodic
inspections by LICENSOR Likewise, subject to written approval by LICENSEE, such approval not be unreasonably withheld, LICENSOR
shall have reciprocal rights to use any of LICENSEE's names, trademarks, registered or unregistered indicia, slogans, marks, trade
names or trade dress owned by LICENSOR for the limited purpose of accurately reflecting this affiliation and relationship. However,
LICENSOR and LICENSEE respectively, shall cease such usage upon the termination of this Agreement and any such usage by LICENSOR
or LICENSEE be subject to and shall conform to LICENSEE's or LICENSOR's trademark usage standards, it being understood that LICENSOR
and LICENSEE shall promptly cease any usage that LICENSOR or LICENSEE determines to be non-conforming.

 

F.           Geographic
Scope: The geographic scope hereby granted by LICENSOR to LICENSEE regarding the rights articulated in Paragraph A above
shall be worldwide (the "Territory"). Accordingly, such grant shall include rights to not only patents (and pending patent
applications) filed and/or issued before the 12,SPTO, but also any worldwide patents, pending patent applications, PCT applications
or any applications filed through any recognized foreign administrative agency or body.

 

G.           For
the avoidance of doubt and notwithstanding the foregoing or any other provision herein, this Agreement does not impose upon LICENSEE
any obligation to exercise the rights granted in the foregoing license, to manufacture Licensed Products, or to otherwise exploit
the Subject Technology in any way, it being understood that such decisions will be made by LICENSEE in its sole discretion.

 

H.           LICENSOR
Rights: LICENSOR hereby represents and warrants that LICENSOR has all necessary right, title and interest to grant the rights and
licenses hereunder and that the exercise of such rights and licenses by LICENSEE will not infringe upon or violate the rights of
any third party.

 

II.          TERM
OF AGREEMENT

 

A.           Contemplated
Term: Unless otherwise terminated in accordance with the terms and conditions of this Agreement, this limited and non-exclusive
license as to the Subject Technology shall have a four (4) ear following term commencing on the Effective Date as identified herein
above (the “Term”) with mutually agreed renewal terms.

  

    	 

    	 

    

 

CONFIDENTIAL AND PROPRIETARY

 

III.         COMPENSATION

 

A.           Royalty
Based upon Sales of Products: LICENSEE agrees to pay LICENSOR a reasonable royalty based upon 9.0% of Net Sales (the “Royalty”)
received by LICENSEE regarding any and all sales of LICENSEE’s products which include as their main composition the Subject
Technology. This shall include only sublingual absorption delivery systems based upon, fall within any of the claims, or include
any of LICENSOR's patented or patent pending technology related to sublingual absorption modalities.

 

B.           Endorser-Related
Royalty Offset: LICENSEE shall be entitled to deduct and retain from the Royalty amount set forth in subsection A herein above,
such amounts as are pre-approved by LICENSOR in connection with certain products in order to accommodate certain endorsement arrangements
on a case-by-case basis to be mutually agreed upon by the Parties, provided however, that in no event shall such deduction exceed
1.5% of the Royalty amount owed to LICENSOR pursuant to subsection A herein above.

 

C.           Quarterly
Royalty Period: The Royalty owed LICENSOR shall be calculated on a quarterly calendar basis (the "Royalty Period") and
shall be payable no later than thirty (30) days after the termination of the preceding full quarter period, i.e.,
commencing on the first (1st) day of January, April, July, and October, except that the first and last calendar periods may need
to be pro-rated depending on the effective date of this Agreement

 

D.           Detailed
Reporting for Each Royalty Period: For each Royalty Period, LICENSEE shall provide LICENSOR with a written royalty statement in
a form reasonably acceptable to LICENSOR Such royalty statement shall be certified as accurate by a duly authorized officer of
LICENSEE reciting, on a country by country basis, the stock number, item, units sold, description, quantity shipped, gross invoice,
amount billed customers less discounts, allowances, returns and reportable sales for each Licensed Product. Such statements shall
be furnished to LICENSOR only if Licensed Products were sold during the Royalty Period and only to the extent any actual Royalty
is owed.

 

E.           Definition
of "Net Sales" for Royalty Calculation: "Net Sates" shall mean LICENSEE's gross sales (the gross invoice amount
billed customers) of Licensed Products, less discounts and allowances actually shown on the invoice and, further, less any bona
fide returns (net of all returns actually made or allowed as supported by credit memoranda actually issued to the customers) up
to the amount of the actual sales of the Licensed Products during the Royalty Period. No other costs incurred in the manufacturing,
selling, advertising, and distribution of the Licensed Products shall be deducted nor shall any deduction be allowed for any uncollectible
accounts or allowances-

 

F.           Royalty
Obligation Occurs Upon Sale: A Royalty obligation shall accrue upon the sale of the Licensed Products (herein defined as any athletic
skin care product or preparation based upon or which includes the Subject Technology) regardless of the time of collection by LICENSEE.
A Licensed Product shall be considered "sold" when such Licensed Product is billed, invoiced, shipped, or paid for, whichever
occurs first

 

    	 

    	 

    

 

CONFIDENTIAL AND PROPRIETARY

 

G.           Receipt
No Waiver to Challenge Statement Accuracy: The receipt or acceptance by LICENSOR of any royalty statement or payment shall not
prevent LICENSOR from subsequently challenging the validity or accuracy of such statement or payment, Survival of Payment Obligations:
LICENSEE'S obligations for the payment of Royalties shall survive expiration or termination of this Agreement and will continue
for so long as LICENSEE continues to sell the Licensed Products.

 

H.           Survival
of Payment Obligations: LICENSEE’S obligations for the payment of Royalties shall survive expiration or termination of this
Agreement and will continue for so long as LICENSEE continues to sell the Licensed Products.

 

I.            Payments
Made in U.S Currency: All payments due LICENSOR shall be made in United States currency by check drawn on a United States bank,
unless otherwise specified by LICENSOR

 

J.           Warrant:
Upon the execution of this Agreement, LICENSEE will issue to LICENSOR a warrant to purchase Five Hundred Thousand (500,000) shares
of LICENSEE's common stock (the "Shares") for a purchase price of $9.00 per share in the form attached hereto as Exhibit
A.

 

IV.         CONFIDENTIALITY OBLIGATIONS

 

A.Access to
Confidential Information: LICENSEE recognizes that during the course of preparing, mixing, adding, employing and making the various
athletic skin preparations based upon or derived from the Subject Technology that LICENSEE may have occasion to review, receive
and have access to confidential materials from LICENSOR with regard to certain bioactive agents, which includes information relating
to drug delivery systems for use in administering nutraceutical and pharmaceutical compositions, patentable ideas, improvements,
specifications, cost and pricing data, investor information, capital raises, client information, customer and vendor lists, and
any other related material used in the ordinary course of business at LICENSOR which may be material to the on-going business of
LICENSOR, its clients, or related third-parties which have an actual or potential relationship with LICENSOR ("Confidential
Information").

 

B.           Acknowledgement
of Trade Secrets: The Parties agree that the Confidential Information may constitute a trade secret of value owned solely by LICENSOR
which is of advantage to it, or which provides advantage to it over those who do not know such Confidential Information and is
otherwise deemed confidential, proprietary information pursuant to applicable Florida law, including, but not limited to Florida
Statute §812.081. LICENSOR acknowledges that the Confidential Information is a valuable, special and unique asset and property
right exclusively owned by LICENSOR, whether patentable or not.

 

    	 

    	 

    

 

C.           Retaining
the Confidential Information: LICENSEE covenants and agrees that both during and after termination of this Agreement, LICENSEE
shall retain such Confidential Information in confidence pursuant to the following leans and conditions: LICENSEE further agrees
to maintain in confidence any such Confidential Information disclosed by LICENSOR or any actual or potential client of LICENSOR
that was not previously known to LICENSEE or to the general public, or that was not in the public domain prior to such disclosure.
Such Confidential Information shall be maintained in confidence by LICENSEEunless or until:

 

		i.	It shall have been made public by an act or omission
of a Party other than LICENSEE

 

		ii.	LICENSEE receives such Confidential Information from
an unrelated third party on a non-confidential basis; or

 

		iii.	The passage of ten (10) years from the date of disclosure,
whichever shall first occur,

 

D.           Prompt
Return of Confidential Materials: Upon request (but subject in all cases to Section XI below), LICENSEE agrees to promptly return
to LICENSOR any materials obtained from or through LICENSOR including all memoranda, drawings, formulations, design or utility
patent applications (or subject matter relating to such applications), specifications, and process or flow diagrams including any
copies, notes, or memoranda made by LICENSEE, in any way, include Confidential Information disclosed or transmitted to LICENSEE
by LICENSOR. Such prompt return shall include any and all known computer data, computer files, .PDFs, .JPGs, entails and any related
electronically stored information within LICENSEE'S control that resides on any CDs, hard drives, flash drives, disks, iPods, digital
music players or related memory devices whether owned by LICENSOR, LICENSEE or any third-party related to LICENSEE (including but
not limited to personal computer devices). Upon such request,. LICENSEE shall, to the best of its knowledge, stipulate to such
removal of electronically stored information as well as performance of any such reasonable steps to ensure complete removal of
such data, including any necessary digital wiping (including use of any readily available wiping software) to ensure complete removal
of the requested data.

 

Except to the extent within the scope of
or otherwise permitted milder the rights and licenses granted herein, LICENSEE agrees that it will not, without first obtaining
the prior written permission of LICENSOR:

 

		i.	Directly or indirectly utilize such Confidential Information
in its business, except as otherwise provided for herein;

 

		ii.	Develop, program, code, create or launch any design,
engineering, product development or related consumer product offering that is based in whole or in part of any subject matter
which touches upon, is related to, or could be remotely derived from the Confidential Information; or

 

    	 

    	 

    

 

CONFIDENTIAL AND PROPRIETARY

 

		iii.	Disclose such Confidential Information to any third party,
whether or not a competitor to LICENSOR, a potential or actual client of LICENSOR or related third-party (including any potential
investors, advisors or affiliates of LICENSOR).

 

Neither party shall originate any publicity,
news release, or other public announcement, written or oral, relating to this Agreement, to performance hereunder, or to any matter
relating to the other party without the prior written approval of the other party.

 

E.           Restriction
Against Reverse Engineering: LICENSEE agrees that it will not attempt, either directly or indirectly, to reverse engineer any of
LICENSOR's bioactive agents, formulations, or related preparations.

 

F.           Right
to Injunctive Relief: LICENSEE agrees that the restrictions set forth in this Agreement are just and reasonable. In the event that
LICENSEE violates, breaches or threatens to breach any of the covenants or restrictions contained herein, LICENSEE acknowledges
that:

 

		a.	LICENSOR will suffer immediate, irreparable, actual and
substantial harm resulting in LICENSOR's lost business, business interruption, administrative expenses and lost profits; and

 

		b.	It may be impossible to ascertain the amount of such
damages with any reasonable degree of accuracy.

 

In the event that LICENSEE violates or
breaches any of the restrictions or covenants contained herein, or threatens such a breach or violation, LICENSOR shall be entitled
to seek immediate, temporary and permanent injunction and other equitable relief to enforce any and all of the provisions set forth
herein in a court of competent jurisdiction. In addition to or in lieu of the above, LICENSOR may, in its sole discretion, pursue
any and all other remedies available to it for such violation, breath or threatened breach, including recovery of compensatory
damages.

  

    	 

    	 

    

 

CONFIDENTIAL AND PROPRIETARY

 

V.         DUTY TO ASSIGN IMPROVEMENTS

 

 

A.           Duty
to Assign Inventions and Works of Authorship: Any inventions, improvements, concepts, works of authorship or ideas made or conceived
by LICENSEE during or in connection with any business performed under this Agreement (or twenty four (24) months thereafter) based
upon the disclosure by LICENSOR (or any entity related to Cure IP or Cure Pharmaceuticals) of any trade secrets, proprietary information,
know-how or formulations with regard to athletic skin preparations based upon the Subject Technology (the "Work"), including
information disclosed in Provisional Patent Application Serial Number 61/533,228, shall be considered the sole and exclusive property
of LICENSOR. LICENSEE shall promptly and fully report and disclose all such Work to LICENSOR (including after termination or expiration
of this Agreement). Any Work performed by LICENSEE under this Agreement shall be considered a 'Work Made for Hire" as that
phrase is defined by the U.S. Copyright laws and shall be owned by and for the express benefit of LICENSOR. In the event it should
be established that such work does not qualify as a Work Made for Hire, LICENSEE agrees to and does hereby assign to LICENSOR
all of his right, title, and interest in such work product, including but not limited to all copyrights, patents, trademarks,
and other proprietary rights. LICENSEE expressly hereby assigns any and all patent and invention rights to any Work developed
during the Term relating directly or indirectly to the business of LICENSOR

 

B.           Duty
to Cooperate with Creation of Patent Applications: Both during the Term of this Agreement and thereafter, LICENSEE shall (at LICENSOR's
sole expense) fully cooperate with LICENSOR in the protection (including drafting and preparation of any applications), prosecution
(including execution of any declarations and correspondence to any government agency), licensing and enforcement of any intellectual
property rights that may derive as a result of the services performed by LICENSEE under the terms of this Agreement. This shall
include executing, acknowledging, and delivering to LICENSOR all documents or papers that may be necessary to enable LICENSOR to
publish or protect said inventions, improvements, and ideas in the name of LICENSOR, its clients, or any related third-parties.

 

VI.           RECORD INSPECTION AND AUDIT

 

A.           Right
to Inspect: LICENSOR shall have the right, upon reasonable notice, to inspect LICENSEE's books and records and all other documents
and material in LICENSEE's possession or control that relate directly to the sales of the Licensed Products.

 

B.           Accessibility
of Books and Records: All books and records relative to LICENSEE's obligations that relate directly to the sales of Licensed Products
shall be maintained and made accessible to LICENSOR for inspection at a location in the United States for at least three (3) years
after termination of this Agreement.

 

VII.           LICENSEE'S OBLIGATIONS

 

A.           Compliance
with Marking Provisions: LICENSEE shall fully comply with the

marking provisions of the intellectual
property laws of the applicable countries in the Licensed Territory.

 

VIII.         
EXPORT CONTROL

 

Anything contained
in this Agreement to the contrary notwithstanding, the obligations of the parties hereto and of the subsidiaries of the parties
shall be subject to all laws, present and future and including export control laws and regulations, of any government having jurisdiction
over the parties hereto or the subsidiaries of the parties, and to orders, regulations, directions or requests of any such government.
Each party shall undertake to comply with and be solely responsible for complying with such laws applicable to such party.

 

    	 

    	 

    

 

CONFIDENTIAL AND PROPRIETARY

 

IX.         TAXES AND GOVERNMENTAL APPROVALS

 

A.           Licensee
to Pay Taxes and Duties: LICENSEE shall be solely responsible for the payment of any and all taxes, fees, duties and other payments
incurred in relation to its manufacture, use and sale of the systems and methods of the Patents or Licensed Products with the exception
that LICENSOR shall be solely responsible for the payment of any and all taxes, fees, duties or other payments assessed by all
relevant authorities by virtue of Cure IP being the owner of the Patents.

 

B.           Licensee
to Pay Approvals and Validations: LICENSEE shall be solely responsible for applying for and obtaining any approvals, authorizations,
or validations necessary to effectuate the terms of this Agreement under the laws of the appropriate national laws of each of the
countries in the Licensed Territory.

 

X.         TERMINATION

 

The following termination
rights are in addition to the termination rights which may be provided elsewhere in the Agreement:

 

A.           Immediate
Right of Termination. LICENSOR shall have the right to immediately terminate this Agreement by giving written notice to LICENSEE
in the event that LICENSEE does any of the following:

 

1. Fails to obtain
or maintain product liability insurance in the amount and of the type provided for herein; or

 

2. Files a petition
in bankruptcy or is adjudicated a bankrupt or insolvent, or makes an assignment for the benefit of creditors or an arrangement
pursuant to any bankruptcy law, or if the LICENSEE discontinues or dissolves its business or if a receiver is appointed for LICENSEE
or for LICENSEE's business and such receiver is not discharged within thirty (30) days.

 

B.           Right
to Terminate on Notice. Either party may terminate this Agreement on ninety (90) days written notice to the other party in the
event of a breach of any provision of this Agreement by the other party, provided that, during the ninety (90) day period, the
breaching party fails to cure such breach

 

C.           LICENSEE
Right to Terminate. The LICENSEE shall have the right to terminate this Agreement after January I, 2013 by providing ten (10) days
written notice to LICENSOR for any reason.

 

    	 

    	 

    

  

CONFIDENTIAL AND PROPRIETARY

 

XI         POST
TERMINATION RIGHTS

 

A.           Subject
to the Sell-Off Rights below, upon the expiration or termination of this Agreement, all rights granted to LICENSEE under this Agreement
shall forthwith terminate and immediately revert to LICENSOR and LICENSEE shall discontinue all use of the Subject Technology and
the like_

 

B.           Upon
the expiration or termination of this Agreement, LICENSOR may require that the LICENSEE transmit to LICENSOR, at no cost, all material
relating to the Subject Technology, provided, however, that LICENSEE shall be permitted to retain a full copy of all material subject
to the confidentiality provisions of this agreement

 

C.           In
the event that the Licensing Agreement is terminated through no fault of LICENSEE, by signing this Agreement, Cure IP Holdings,
LLC hereby covenants and agrees that they shall enter into a direct relationship with LICENSEE on substantially the same terms
as contained herein.

 

D.           Notwithstanding
the foregoing or any other provision herein to the contrary, LICENSEE shall have a period of not less than nine (9) calendar months
following the effective date of this Agreement (-Sell-Off Period") to distrittite and sell any Licensed Products
that have been manufactured, in whole or in part, prior to the effective date of termination ("Sell-Off Rights"), it
being understood that LICENSEE shall not be in. breach of this Agreement or otherwise liable in any manner with respect to the
sale or distribution of Licensed Products by its customers following the Sell-Off Period.

 

XII.         INSURANCE

 

Should LICENSEE elect
to produce any Licensed Products that are subject to a royalty hereunder, LICENSEE shall, prior to the manufacture of such Licensed
Products, obtain and maintain at its own cost and expense from a qualified insurance company licensed to do business in New York
and having a Moody's rating of B- or better, standard Product Liability Insurance naming LICENSOR, and its officers, directors,
employees, agents, and shareholders,, as an additional insured. Such policy shall provide protection against all claims, demands,
and causes of action arising out of any defects or failure to perform, alleged or otherwise, of the Licensed Products or
any material used in connection therewith or any use thereof. The amount of coverage shall be not less than $2,000,000 per claim.
The policy shall provide for thirty (30) days' notice to LICENSOR from the insurer by reps' tered or certified mail, return receipt
requested, in the event of any modification, cancellation, or termination thereof. LICENSEE agrees to furnish LICENSOR a certificate
of insurance evidencing same within thirty (30) days after it begins production of any Licensed Products and, in no event, shall
LICENSEE manufacture, distribute, or sell the Licensed Products prior to receipt by LICENSOR. of such evidence of insurance.

 

    	 

    	 

    

  

CONFIDENTIAL AND PROPRIETARY

 

XIII.         FORCE
MAJEURE

 

Neither party will
be liable for or will be considered to be in breach of or default under this Agreement on account of any delay or failure to perform
as required by this Agreement as a result of any causes or conditions that are beyond such Party's reasonable control and that
such Party is unable to overcome through the exercise of commercially reasonable diligence. If any force majeure event occurs,
the affected Party will give prompt written notice to the other Party and will use commercially reasonable efforts to minimize
the impact of the event.

 

XIV.         NOTICE AND PAYMENT

 

  A.           Any
notice required to be given under this Agreement shall be in writing and delivered personally to the other designated party at
the above stated address or mailed by certified, registered or Express mail, return receipt requested or by Federal Express.

 

  B.           Either
party may change the address to which notice or payment is to be sent by written notice to the other under any provision of this
paragraph.

 

XV.          JURISDICTION/DISPUTES

 

 This Agreement shall
be governed in accordance with the laws of the State of New York.

 

XVI.        AGREEMENT BINDING ON SUCCESSORS

 

The provisions of the
Agreement shall be binding upon and shall inure to the benefit of the Parties hereto, their heirs, administrators, successors and
assigns.

 

XVII.       ASSIGNABILITY

 

Except in connection
with a change of control event, neither party may assign this Agreement or the rights and obligations thereunder to any third party
without the prior express written approval of the other party which shall not be unreasonably withheld.

 

XVIII.         WAIVER

 

No waiver by either
party of any default shall be deemed as a waiver of prior or subsequent default of the same of other provisions of this Agreement

 

XVIII.         SEVERA,BILITY

 

If any term, clause
or provision hereof is held invalid or unenforceable by a court of competent jurisdiction, such invalidity shall not affect the
validity or operation of any other term, clause or provision and such invalid term, clause or provision shall be deemed to be severed
from the Agreement

 

    	 

    	 

    

 

CONFIDENTIAL AND PROPRIETARY

 

XIX.         INTEGRATION

 

This Agreement constitutes
the entire understanding of the Parties, and revokes and supersedes all prior agreements between the Parties and is intended as
a final expression of their Agreement. It shall not be modified or amended except in writing signed by the Parties hereto and specifically
referring to this Agreement This Agreement shall take precedence over any other documents which may conflict with this Agreement

 

XX         COMPETITION

 

Nothing in this Agreement
shall prohibit LICENSEE from entering into license agreements or other business arrangements whereby the LICENSEE markets, promotes
and sells products that may be competitive with the Subject Technology, provided, however, that, except for the rights granted
hereunder, during the term of this Agreement LICENSEE will not sell any products that would compete with the Subject Technology
as it related to the sublingual absorption modalities.

 

IN WITNESS WHEREOF,
the Parties hereto, intending to be legally bound hereby, have each caused to be affixed hereto its or his/her hand and seal the
day indicated.

 

	FUSE SCIENCE INC.	 	MISSION PRODUCT HOLDINGS, INC.	 	 
	 	 	 	 	 	 	 	 	 
	By:	 	/s/ Brian Tuffin	 	By:	 	/s/ Josh Shaw	 	 
	 	 	Brian Tuffin, Chief Executive Officer	 	 	 	Josh Shaw, PresidentNote
Purchase Agreement

 

This
Note Purchase Agreement (the “Agreement”) is made as of May 21, 2012 (the “Effective
Date”) by and among Innolog Holdings Corporation, a Nevada corporation
(the “Company”) and the persons and entities named on the Schedule of Purchasers attached to this Agreement
(individually, a “Purchaser” and collectively, the “Purchasers”).

Recitals

 

To provide the Company
with additional resources to conduct its business, the Purchasers are willing to loan to the Company up to six million ($6,000,000),
subject to the conditions specified in this Agreement.

 

Agreement

 

Now,
Therefore, in consideration of the foregoing, and the representations, warranties, covenants and conditions set forth
below, the Company and each Purchaser, intending to be legally bound, hereby severally and not jointly agree as follows:

 

1.           Amount
and Terms of the Loans. Subject to the terms of this Agreement, at the Closing (as defined below) the Company agrees
to issue and sell to each of the Purchasers, and each Purchaser agrees, severally and not jointly, to purchase from the Company,
a convertible promissory note in the form attached to this Agreement as Exhibit A (each, a “Note”
and collectively, the “Notes”) in the principal amount set forth opposite such Purchaser’s name
on the Schedule of Purchasers attached to this Agreement (each, a “Loan Amount”), in an aggregate principal
amount not to exceed $6,000,000. The Notes shall mature on May 31, 2017, or such earlier date set forth in the Notes (the “Maturity
Date”).

 

2.           Additional
Compensation. In addition to the Notes, each Purchaser shall also receive a warrant (each
a “Warrant” and collectively, the “Warrants”), exercisable until May 31, 2017,
in substantially the form attached hereto as Exhibit B, to purchase the number of shares of common stock of the Company
(“Warrant Shares”) equal to the product obtained by multiplying the Purchaser’s Loan Amount by
five (5), with a strike price equal to the average market closing price for the Company’s common stock as determined for
the thirty-day period ending two business days prior to the applicable Closing (“Strike Price”). The
number of Warrant Shares initially subject to each Warrant, as provided in the preceding sentence, will be appropriately adjusted
upon the occurrence, prior to the issuance of such Warrant, of any stock dividend, stock split, combination or the like with respect
to the Company’s common stock (e.g., as a result of the anticipated 1 for 5 reverse stock split, a Warrant issued thereafter
shall be exercisable initially for the number of Warrant Shares equal to the product obtained by multiplying the Loan Amount by
one). 

 

    	1.

    	 

    

 

3.           Collateral.
Pursuant to the Security Agreement in the form attached hereto as Exhibit C (the “Security
Agreement”), the Company shall grant, and the Company shall cause its subsidiary, Innovative Logistics Techniques,
Inc., a Virginia corporation (“Innovative Logistics”), to grant, to the “Initial Note Purchaser”
(as designated on the Schedule of Purchasers), as collateral agent on behalf of the Purchasers, a continuing security interest
in all Collateral (as defined in the Security Agreement) to secure all obligations and performance of each of the Company’s
duties under the Notes and any related documentation. Each Purchaser understands, acknowledges and agrees that such security interest
will be pari passu with the security interest granted under the Confessed Judgment Promissory Note between the Company,
Innovative Logistics and eight individual lenders dated March 31, 2009 (the “2009 Note”).

 

4.           Conversion.
The Notes will be convertible into shares of Series B Convertible Preferred Stock of the Company, par value $0.001 per
share (“Series B Preferred Stock”), on the terms set forth in the form of Note attached as Exhibit
A. The shares of Series B Preferred Stock issued in connection with the conversion of any particular Note shall be convertible
into shares of the Company’s Common Stock, par value $0.001 per share (“Common Stock”), at the
applicable Initial Conversion Price set forth opposite the name of the initial Purchaser of such Note on the Schedule of Purchasers
attached hereto (the “Initial Conversion Price”), pursuant to that certain Certificate
of Designation of Series B Convertible Preferred Stock filed on or about the Effective Date, a copy of which is attached hereto
as Exhibit D (“Series B Certificate of Designation”). The Initial Conversion Price of the shares
of Series B Preferred Stock issued in connection with the conversion of any particular Note shall be subject to adjustment from
time to time in the manner set forth in the Series B Certificate of Designation.

 

5.           Senior
Preferred Stock Series B. The rights and preferences of the Series B Preferred Stock are as set forth in the Series
B Certificate of Designation.

 

6.           The
Closing(s)

 

6.1           Closing
Date. The initial closing of the sale and purchase of the Notes as set forth on the Schedule of Purchasers (the “Initial
Closing”) will be held on the Effective Date, or at such other time as the Company and the Initial Note Purchaser
agree.

 

6.2           Subsequent
Closing(s). Subject to Section 6.4 below, at any time, the Company may, at its discretion, allow one or more subsequent closings
of the purchase and sale of the Notes in an aggregate principal amount not to exceed six million dollars ($6,000,000), which figure
includes the Initial Closing, as set forth on the Schedule of Purchasers (each a “Subsequent Closing”
and together with the Initial Closing and each other Subsequent Closing, each, a “Closing”). The Schedule
of Purchasers may be amended by the Company to include any Subsequent Closing pursuant to this Section 6.2, without the consent
of the Purchasers. Upon their execution and delivery of this Agreement and such other counterpart signature pages as contemplated
by Section 6.3 below, such parties shall be deemed to be “Purchasers” for all purposes under this Agreement.

 

6.3           Delivery.
At each Closing, (i) each Purchaser will deliver to the Company a check or wire transfer funds in the amount of such Purchaser’s
Loan Amount or by tendering any previously issued notes or other evidences of indebtedness of the Company held by such Purchaser;
and (ii) the Company will issue and deliver to each Purchaser (a) a Note in favor of such Purchaser payable in the principal
amount of such Purchaser’s Loan Amount, (b) a corresponding Warrant, (c) a fully executed copy of the Security Agreement,
(d) a fully executed copy of the Voting Agreement attached hereto as Exhibit E (“Voting Agreement”),
and (e) a fully executed copy of the Rights Agreement attached hereto as Exhibit F (“Rights Agreement”).
In addition, the Company will cause each person designated by the Initial Note Purchaser to execute and deliver to the Initial
Note Purchaser a Stock Pledge Agreement in the form attached hereto as Exhibit G.

 

    	2.

    	 

    

 

6.4           Right
of First Refusal. After the Initial Closing, at least 15 days prior to selling or issuing any additional Note, the Company
shall deliver a written notice (the “Preemptive Rights Notice”) to the Initial Note Purchaser that discloses
the principal amount of Note(s) that the Company proposes to sell. Within ten days of delivery of the Preemptive Rights Notice
or such earlier period approved in writing by the Initial Note Purchaser (the “Ten Day Period”), the
Initial Note Purchaser shall serve notice on the Company indicating whether or not it elects to purchase such Notes. After the
Ten Day Period, the Company shall have the right to sell all or any part of the remaining Notes for which the Initial Note Purchaser
has not subscribed to the proposed transferee at not less than the principal amount and upon other material terms and conditions
as set forth in the Preemptive Rights Notice. Such sale shall take place no later than 90 days after the expiration of the Ten
Day Period. However, if such sale is not consummated within such 90 day period, the Company shall not sell such Note without again
complying with this Section 6.4.

 

7.           Representations
and Warranties of the Company. The Company, which term will be deemed to include any and all of its direct and indirect
subsidiaries for purposes of this Section 7, hereby represents and warrants to each Purchaser in a Closing, as of the date of such
Closing, as follows:

 

7.1           Organization,
Good Standing and Qualification. The Company is a corporation duly organized, validly existing and in good standing under the
laws of the State of Nevada. The Company has the requisite corporate power to own and operate its properties and assets and to
carry on its business as now conducted and as proposed to be conducted. The Company is duly qualified and is authorized to do business
and is in good standing as a foreign corporation in all jurisdictions in which the nature of its activities and of its properties
(both owned and leased) makes such qualification necessary, except for those jurisdictions in which failure to do so would not
have a material adverse effect on the Company or its business. The Company’s only direct subsidiary is Innolog Group Corporation,
a Nevada corporation, of which the Company directly owns 100% of the capital stock or other equity interests or ownership interests
in such subsidiary free and clear of all Liens (other than the lien granted pursuant to the 2009 Note). Innolog Group Corporation
directly owns 100% of the capital stock or other equity interests or ownership interests of Innovative Logistics, free and clear
of all Liens.

 

7.2           Corporate
Power. The Company has all requisite corporate power to execute and deliver this Agreement, the Notes, the Warrants, the
Security Agreement, the Rights Agreement, the Voting Agreement, the Series B Certificate of Designation and any other related documentation
(collectively, the “Loan Documents”) and to carry out and perform its obligations under the Loan Documents,
including, but not limited to, its obligations to issue the Securities (defined below).

 

    	3.

    	 

    

 

7.3           Authorization.
All corporate action on the part of the Company, its directors and its stockholders necessary for the authorization, execution,
delivery and performance of the Loan Documents by the Company and the performance of the Company’s obligations thereunder,
including the issuance of the Securities, has been properly taken. The Loan Documents, when executed and delivered by the Company,
will constitute valid and binding obligations of the Company enforceable in accordance with their terms, subject to laws of general
application relating to bankruptcy, insolvency, the relief of debtors and, with respect to rights to indemnity, subject to federal
and state securities laws.

 

7.4           Capitalization.
The capitalization of the Company immediately prior to the Closing consists of a total of: (A) 50,000,000 authorized shares of
preferred stock, par value $0.001 per share, consisting of 38,000,000 shares designated as Series A Convertible Preferred Stock
(“Series A Preferred Stock”), of which 36,894,758 are issued and outstanding and 7,800,000 shares designated
as Series B Preferred Stock, none of which are issued and outstanding and (B) a total of 200,000,000 authorized shares of common
stock, par value $0.001 per share, of which 15,129,973 are issued and outstanding. The Common Stock, Series A Preferred Stock
and Series B Preferred Stock shall have the rights, preferences, privileges and restrictions set forth in the Company’s Articles
of Incorporation, including any certificates of designation. The outstanding shares have been duly authorized and validly issued,
are fully paid and nonassessable, and were issued in compliance with applicable laws. The Company has reserved up to 7,800,000
shares of Series B Preferred Stock upon conversion of the Notes and such number of shares of Common Stock as may be issuable upon
conversion of such Series B Preferred Stock in accordance with the terms of the Series B Certificate of Designation.

 

7.5           Options,
Warrants, Reserved Shares. Except as otherwise provided in the Loan Documents and except for (i) the conversion privileges
of the Series A Preferred Stock and Series B Preferred Stock; (ii) warrants for the purchase of up to 63,111,564 shares of Common
Stock and (iii) options exercisable for up to 15,129,973 shares of Common Stock pursuant to the Company’s 2006 Stock Option
Plan, there are no options, warrant or other rights to purchase or acquire any of the Company’s capital stock or otherwise
reserved for issuance.

 

7.6           Agreements.

 

 (a)          Except
for the Loan Documents and agreements between the Company and its employees with respect to sales of the Company’s Common
Stock, there are no agreements, understandings or proposed transactions between the Company and any of its officers, directors,
affiliates, or any affiliate thereof other than as disclosed in the SEC Filings (as defined below).

 

 (b)          Other
than as disclosed in the SEC Filings, there are no agreements, understandings, instruments, contracts, proposed transactions, judgments,
orders, writs or decrees to which the Company is a party or by which it is bound that may involve obligations or liabilities
(contingent or otherwise) of, or payments by the Company in excess of, $50,000 other than in the ordinary course of the Company’s
business.

 

    	4.

    	 

    

 

7.7           Title
to Property. Other than as disclosed in the SEC Filings, the Company has good and marketable title to its properties and assets,
and has good title to all its leasehold interests, in each case subject to no material mortgage, pledge, lien, lease, encumbrance
or charge (“Lien”), other than (i) Liens for current taxes not yet due and payable, (ii) Liens
imposed by law and incurred in the ordinary course of business for obligations not past due, (iii) Liens in respect of pledges
or deposits under workers’ compensation laws or similar legislation, (iv) Liens, encumbrances and defects in title which
do not in any case materially detract from the value of the property subject thereto or have a material adverse effect, and which
have not arisen otherwise than in the ordinary course of business and (v) Liens granted under the Security Agreement or under the
2009 Note (collectively, “Permitted Liens”). With respect to the property and assets it leases, the Company
is in compliance with such leases in all material respects.

 

7.8           Litigation.
There are no actions, suits, proceedings or investigations pending against the Company or its properties (nor has the Company received
notice of any threat thereof) before any court or governmental agency that, either individually or in the aggregate, if determined
adversely to the Company, would or could reasonably be expected to have a material adverse effect or result in any change in the
current equity ownership of the Company. The Company is not a party or subject to the provisions of any order, writ, injunction,
judgment or decree of any court or government agency or instrumentality. There is no action, suit or proceeding initiated by the
Company currently pending or which the Company currently intends to initiate.

 

7.9           Changes.
Since December 31, 2011 there has not been a material adverse change in the assets, liabilities, financial condition or operating
results of the Company from that reflected in the financial statements, except changes in the ordinary course of business.

 

7.10         Filings.
All documents filed with the Securities and Exchange Commission (the “Commission”) subsequent to
June 30, 2010 (the “SEC Filings”) complied as to form in all material respects with the requirements
of the Securities Act of 1933, as amended (the “Act”) and the Securities Exchange Act of 1934, as amended,
(the “Exchange Act”) as applicable, and the rules and regulations of the Commission thereunder. None
of the SEC Filings, when such documents became effective or were so filed, as the case may be, contained an untrue statement of
a material fact or omitted to state a material fact required to be stated therein or necessary to make the statements therein not
misleading. The financial statements for the periods ended June 30, 2010, and September 30, 2010 have been restated, but the quarterly
reports on Form 10-Q for such periods have not been amended to reflect such restatements.

 

7.11         Governmental
Consents. All consents, approvals, orders, or authorizations of, or registrations, qualifications, designations, declarations,
or filings with, any governmental authority, required on the part of the Company in connection with the valid execution and delivery
of this Agreement, the offer, sale or issuance of the Notes or the consummation of any other transaction contemplated by the Loan
Documents will have been obtained and will be effective at the Closing.

 

7.12         Compliance
with Laws. The Company is not in violation of any applicable statute, rule, regulation, order or restriction of any domestic
or foreign government or any instrumentality or agency thereof in respect of the conduct of its business or the ownership of its
properties, the violation of which would materially and adversely affect the business, assets, liabilities, financial condition,
operations or prospects of the Company.

 

    	5.

    	 

    

  

7.13         Compliance
with Other Instruments. The Company is not in violation or default of any term of its articles of incorporation, including
any certificate of designation, or bylaws, or, except as disclosed in an SEC Filing, of any provision of any mortgage, indenture,
contract, agreement or instrument to which it is a party and by which it is bound or of any judgment, decree, order or writ, other
than such violation(s) that would not have a material adverse effect on the Company. The execution, delivery and performance of
the Loan Documents, and the consummation of the transactions contemplated thereby will not result in any such violation or be in
conflict with, or constitute, with or without the passage of time and giving of notice, either a default under any such provision,
instrument, judgment, decree, order or writ or an event that results in the creation of any Lien (except as contemplated herein),
charge or encumbrance upon any assets of the Company or the suspension, revocation, impairment, forfeiture, or nonrenewal of any
material permit, license, authorization or approval applicable to the Company, its business or operations or any of its assets
or properties. Without limiting the foregoing, the Company has obtained all waivers reasonably necessary with respect to any preemptive
rights, rights of first refusal or similar rights, including any notice or offering periods provided for as part of any such rights,
in order for the Company to consummate the transactions contemplated by the Loan Agreements without any third party obtaining any
rights to cause the Company to offer or issue any securities of the Company as a result of the consummation of the transactions
contemplated hereunder.

 

7.14         Offering.
Assuming the accuracy of the representations and warranties of the Purchasers contained in Section 8 hereof, the offer,
issue, and sale of the Notes are and will be exempt from the registration and prospectus delivery requirements of the Act, and
have been registered or qualified (or are exempt from registration and qualification) under the registration, permit, or qualification
requirements of all applicable state securities laws.

 

8.         
  Representations and Warranties of the
Purchasers

 

8.1           Purchase
for Own Account. Each Purchaser represents that it is acquiring the Notes and Warrants and any securities issued upon the full
conversion or exercise thereof (collectively, the “Securities”) solely for its own account and beneficial
interest for investment and not for sale or with a view to distribution of the Securities or any part thereof, has no present intention
of selling (in connection with a distribution or otherwise), granting any participation in, or otherwise distributing the same,
and does not presently have reason to anticipate a change in such intention.

 

8.2           Information
and Sophistication. Without lessening or obviating the representations and warranties of the Company set forth in Section 7,
each Purchaser hereby: (i) acknowledges that it has received all the information it has requested from the Company and it considers
necessary or appropriate for deciding whether to acquire the Securities, (ii) represents that it has had an opportunity to ask
questions and receive answers from the Company regarding the terms and conditions of the offering of the Securities and to obtain
any additional information necessary to verify the accuracy of the information given the Purchaser and (iii) further represents
that it has such knowledge and experience in financial and business matters that it is capable of evaluating the merits and risk
of this investment.

 

    	6.

    	 

    

  

8.3           Ability
to Bear Economic Risk. Each Purchaser acknowledges that investment in the Securities involves a high degree of risk, and represents
that it is able, without materially impairing its financial condition, to hold the Securities for an indefinite period of time
and to suffer a complete loss of its investment.

 

8.4           Further
Limitations on Disposition. Without in any way limiting the representations set forth above, each Purchaser further agrees
not to make any disposition of all or any portion of the Securities unless and until:

 

 (a)          There
is then in effect a Registration Statement under the Act covering such proposed disposition and such disposition is made in accordance
with such Registration Statement; or

 

 (b)          The
Purchaser will have notified the Company of the proposed disposition and will have furnished the Company with a detailed statement
of the circumstances surrounding the proposed disposition, and if reasonably requested by the Company, such Purchaser will have
furnished the Company with an opinion of counsel, reasonably satisfactory to the Company, that such disposition will not require
registration under the Act or any applicable state securities laws, provided that no such opinion will be required for dispositions
in compliance with Rule 144, except in unusual circumstances.

 

(c)          Notwithstanding
the provisions of paragraphs (a) and (b) above, no such registration statement or opinion of counsel shall be necessary for a transfer
by such Purchaser to a partner (or retired partner) or member (or retired member) of such Purchaser in accordance with partnership
or limited liability company interests, or transfers by gift, will or intestate succession to any spouse or lineal descendants
or ancestors, if all transferees agree in writing to be subject to the terms hereof to the same extent as if they were Purchasers
hereunder.

 

8.5           Accredited
Investor Status. Each Purchaser is an “accredited investor” as such term is defined in Rule 501 under the Act.

 

9.          
 Further Agreements

 

9.1           Use
of Proceeds. The proceeds from the sale of the Notes will be used for general corporate purposes, including working capital
and the payment and repayment of various Company and subsidiary obligations; provided, however, that proceeds from the Notes will
not be used to pay or repay obligations owed or owing to any employee, officer, director or 1% or greater stockholder of the Company
or any of its subsidiaries, nor any member of his or her immediate family without the prior written consent of the Initial Note
Purchaser.

 

9.2           Protective
Provisions. So long as one million dollars ($1,000,000) of aggregate principal under the Notes is outstanding, the Company
shall not, without the prior written consent of a Majority in Interest (as defined below): (i) incur, create, assume, become liable
for or grant any Lien, other than Permitted Liens, on the Company’s assets or permit any of its direct or indirect subsidiaries
to do the same; or (ii) take any of the actions set forth under Section 7.2 of the Series B Certificate of Designation, including,
without limitation, alter, amend, or repeal any provision of the Company’s articles of incorporation or any certificate of
designation or bylaws of the Company if such action would alter the rights, preferences, privileges or power of, or restrictions
provided for the benefit of the Series B Preferred Stock.

 

    	7.

    	 

    

  

9.3           Other
Covenants. The Company shall file the Series B Certificate of Designation within ten days after the Initial Closing. The Company
shall effect a reverse stock split of its Common Stock, at a ratio of one new share for each five or more existing shares, within
90 days after the Initial Closing.

 

10.          Miscellaneous

 

10.1         Binding
Agreement. The terms and conditions of this Agreement will inure to the benefit of and be binding upon the respective successors
and assigns of the parties. Nothing in this Agreement, expressed or implied, is intended to confer upon any third party any rights,
remedies, obligations, or liabilities under or by reason of this Agreement, except as expressly provided in this Agreement.

 

10.2         Governing
Law. This Agreement will be governed by and construed under the laws of the Commonwealth of Virginia as applied to agreements
among Virginia residents, made and to be performed entirely within the Commonwealth of Virginia, without giving effect to conflicts
of laws principles.

 

10.3         Counterparts.
This Agreement may be executed in two or more counterparts, each of which will be deemed an original, but all of which together
will constitute one and the same instrument.

 

10.4         Titles
and Subtitles. The titles and subtitles used in this Agreement are used for convenience only and are not to be considered in
construing or interpreting this Agreement.

 

10.5         Further
Actions. The Company will execute and deliver such other agreements, conveyances, and other documents, and take such other
action, as may be reasonably requested by the Purchasers in order to give effect to the transactions contemplated by this Agreement
and the other Loan Documents.

 

10.6         Notices.
All notices required or permitted hereunder will be in writing and will be deemed effectively given: (a) upon personal delivery
to the party to be notified, (b) when sent by confirmed electronic mail or facsimile if sent during normal business hours
of the recipient, if not, then on the next business day, (c) five (5) days after having been sent by registered or certified
mail, return receipt requested, postage prepaid, or (d) one (1) day after deposit with a nationally recognized overnight courier,
specifying next day delivery, with written verification of receipt. All communications will be sent to the Company at 4000 Legato
Road, Suite 830, Fairfax, VA 22033, and to Purchaser at the address(es) set forth on the Schedule of Purchasers attached to this
Agreement or at such other address(es) as the Company or Purchaser may designate by ten (10) days advance written notice to the
other parties to this Agreement.

 

    	8.

    	 

    

 

10.7         Modification;
Waiver. No modification or waiver of any provision of this Agreement or consent to departure therefrom will be effective unless
in writing and approved by (i) the Company (ii) the Purchasers holding Notes representing at least fifty one percent (51%) of the
outstanding aggregate Loan Amounts and (iii) each Purchaser, which together with its Affiliates, holds in the aggregate Notes representing
at least one million dollars ($1,000,000) of the outstanding Loan Amounts (the Purchasers described in clauses (ii) and (iii) being
referred to as a “Majority in Interest”). Any provision of the Notes may be amended or waived by the
written consent of the Company and a Majority in Interest. Notwithstanding the foregoing, the written consent of Purchaser shall
be required to reduce the principal amount of a Note held by Purchaser, or reduce the rate of interest of the Note held by Purchaser.
“Affiliate” shall mean, with respect to a specified Person, an individual, firm, corporation, partnership, association,
limited liability company, trust or any other entity (collectively, a “Person”) who, directly or indirectly,
controls, is controlled by or is under common control with such Person, including, without limitation, any general partner, managing
member, officer or director of such Person or any venture capital or investment fund now or hereafter existing that is controlled
by one or more general partners or managing members of, or shares the same management company with, such Person.

 

10.8         Expenses.
The Company and each Purchaser will each bear its respective expenses and legal fees incurred with respect to the Loan Documents
and the transactions contemplated thereby; provided, however, the Company agrees to reimburse the Initial Note Purchaser
for its reasonable out of pocket legal fees and expenses incurred in connection with the Initial Closing. The Company hereby agrees
that such fees and expenses incurred by the Initial Note Purchaser through the Initial Closing may be paid directly by the Initial
Note Purchaser and deducted from the purchase price payable by the Initial Note Purchaser at such Closing. If any action, suit
or other proceeding is instituted concerning or arising out of this Agreement or any transaction contemplated under the Loan Documents,
the prevailing party shall recover all of such party’s costs and attorneys’ fees incurred in each such action, suit,
or other proceeding, including any and all appeals or petitions from such action, suit or other proceeding.

 

10.9         Delays
or Omissions. The parties agree that no delay or omission to exercise any right, power or remedy accruing to each Purchaser,
upon any breach or default of the Company under this Agreement will impair any such right, power or remedy, nor will it be construed
to be a waiver of any such breach or default, or any acquiescence therein, or of or in any similar breach or default thereafter
occurring; nor will any waiver of any single breach or default be deemed a waiver of any other breach or default theretofore or
thereafter occurring. It is further agreed that any waiver, permit, consent or approval of any kind or character by any Purchaser
of any breach or default under this Agreement, or any waiver by any Purchaser of any provisions or conditions of this Agreement
must be in writing and will be effective only to the extent specifically set forth in writing and that all remedies, either under
this Agreement, or by law or otherwise afforded to the Purchasers, will be cumulative and not alternative.

 

10.10         Severability.
If any provision of this Agreement becomes or is declared by a court of competent jurisdiction to be illegal, unenforceable or
void, portions of such provision, or such provision in its entirety, to the extent necessary, shall be severed from this Agreement,
and such court will replace such illegal, void or unenforceable provision of this Agreement with a valid and enforceable provision
that will achieve, to the extent possible, the same economic, business and other purposes of the illegal, void or unenforceable
provision. The balance of this Agreement shall be enforceable in accordance with its terms.

 

    	9.

    	 

    

 

10.11       Entire
Agreement. This Agreement, the exhibits to this Agreement and the other Loan Documents constitute the full and entire understanding
and agreement between the parties with regard to the subjects hereof and no party will be liable or bound to any other party in
any manner by any representations, warranties, covenants and agreements except as specifically set forth in this Agreement.

 

10.10       Reliance
on Counsel and Advisors. Each Purchaser acknowledges that counsel to a particular Purchaser represents
only that Purchaser and shall not be deemed to be counsel to any other Purchaser in this transaction. Each Purchaser acknowledges
that he, she or it has had the opportunity to review this Agreement, including all attachments hereto, and the transactions contemplated
by this Agreement with his or her own legal counsel, tax advisors and other advisors. Each Purchaser is relying solely on his or
her own counsel and advisors and not on any statements or representations of any other Purchaser or such other Purchaser’s
counsel or advisors for legal or other advice with respect to this investment or the transactions contemplated by this Agreement.

 

10.11.      No
Commitment for Additional Investment. The Company acknowledges and agrees that no Purchaser has made any representation, undertaking,
commitment or agreement to provide or assist the Company in obtaining any financing, investment or other assistance, other than
the purchase of the Notes as set forth herein and subject to the conditions set forth in herein. In addition, the Company acknowledges
and agrees that, except as set forth in this Agreement, (a) no statements, whether written or oral, made by any Purchaser or its
representatives on or after the date of this Agreement shall create an obligation, commitment or agreement to provide or assist
the Company in obtaining any financing or investment, (b) the Company shall not rely on any such statement by any Purchaser or
its representatives and (c) an obligation, commitment or agreement to provide or assist the Company in obtaining any financing
or investment may only be created by a written agreement, signed by such Purchaser and the Company, setting forth the terms and
conditions of such financing or investment and stating that the parties intend for such writing to be a binding obligation or agreement.
Each Purchaser shall have the right, in its sole and absolute discretion, to refuse or decline to participate in any other financing
of or investment in the Company, and shall have no obligation to assist or cooperate with the Company in obtaining any financing,
investment or other assistance.

  

[Signature
Page Follows]

 

    	10.

    	 

    

 

In
Witness Whereof, the parties have executed this Note Purchase Agreement
as of the date first written above.

 

	 	Company:
	 	 
	 	Innolog Holdings Corporation
	 	 
	 	By:	/s/ William P. Danielczyk 
	 	 	William P. Danielczyk
	 	 	Executive Chairman

 

    	 

    	 

    

 

Note
Purchase Agreement

Signature
Page

 

In
Witness Whereof, the parties have executed this Note Purchase Agreement
as of the date first written above.

 

Initial
Note Purchaser:

 

Glen
Hill Investments LLC

  

	By:	 /s/ Harry R. Jacobson	 

Name: Harry R. Jacobson

Title: Manager

 

Dated as of: May 21,
2012

  

    	 

    	 

    

 

Schedules
and Exhibits

 

Schedule of Purchasers

 

Exhibit A: Form of Convertible Promissory
Note

 

Exhibit B: Form of Warrant

 

Exhibit C: Security Agreement

 

Exhibit D: Certificate of Designation
for Series B Convertible Preferred Stock

 

Exhibit E: Voting Agreement

 

Exhibit F: Rights Agreement

 

Exhibit G: Form of Stock Pledge Agreement

  

    	 

    	 

    

 

Schedule
of Purchasers

 

	Name and Address	 	Loan Amount / 
Closing Date	 	 	Initial Conversion 
Price*	 
	 	 	 	 	 	 	 
	Initial Note Purchaser:	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	Glen Hill Investments LLC	 	$	1,750,000.00	 	 	$	0.076	 
	836 Glen Leven Drive	 	 	 	 	 	 	 	 
	Nashville, TN 37204	 	 	May 21, 2012	 	 	 	 	 
	 	 	$		 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	$		 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	$		 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 

 

* Insert price that is 120% of the average
market closing price of the Common Stock as determined for the 30-day period ending two business days prior to the applicable Closing.

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