Document:

schn-ex102_172.htm

Exhibit 10.2

 

SEPARATION AND RELEASE AGREEMENT

This Agreement is made and entered into by SCHNITZER STEEL INDUSTRIES, INC. (the “Company”) and JEFF DYCK (“Mr. Dyck”) (jointly, the “Parties”) on the following terms: 

 

Mr. Dyck’s employment with Company terminates effective February 12, 2021 (“Termination Date”). 

 

1.Payment of Wages. Mr. Dyck acknowledges and represents that the Company has paid all wages and paid time off (“PTO”) due, if any, to Mr. Dyck through the Termination Date, which Mr. Dyck is entitled to regardless of whether Mr. Dyck signs this Agreement. Mr. Dyck also acknowledges that Mr. Dyck has received any and all leave and other benefits that Mr. Dyck has been or is entitled to pursuant to the Family and Medical Leave Act of 1993, as amended. 

2. Return of Property. By the Termination Date, Mr. Dyck must return and represents and warrants that he has returned to the Company all Company property, including identification cards or badges, access codes or devices, keys, computers, telephones, hand-held electronic devices, credit cards, electronically stored documents or files, physical files, and any other Company property in Mr. Dyck's possession. 

3.Separation Pay. In consideration of Mr. Dyck signing this Agreement, and abiding by the covenants and releases given herein, the Company will pay Mr. Dyck severance in the amount of SEVEN HUNDRED AND THIRTY THOUSAND DOLLARS ($730,000.00), prorated and payable in bi-weekly installments over the course of EIGHTEEN (18) months following the Termination Date. All payments are subject to applicable payroll withholdings and to Mr. Dyck’s agreement to the terms and conditions set forth in this agreement. Payments will commence within thirty (30) business days after the execution of this agreement and expiration of the revocation period. Mr. Dyck shall not accrue, nor be eligible for, any additional PTO pay or other fringe benefits as a result of this severance payment. Summary of Payment Calculations is set forth in Exhibit 1. Mr. Dyck agrees that the Separation Pay described in this paragraph constitutes the entire amount of monetary consideration provided to Mr. Dyck under this Agreement and that Mr. Dyck is not entitled to any other claimed damage, costs, or attorneys’ fees in connection with the matters encompassed in this Agreement. 

4.Confidential Information. Mr. Dyck understands and acknowledges that during the course of employment with the Company, Mr. Dyck has had access to and learned about confidential, secret, and proprietary documents, materials, and other information, in tangible and intangible form, of and relating to the Company and its businesses and existing and prospective customers, suppliers, investors, and other associated third parties ("Confidential Information"). Mr. Dyck understands and acknowledges that the intellectual and business services Mr. Dyck provided to the Company were unique, special, and extraordinary because of commercial and operational skills, acumen, and relationships that he has developed and exercised during the course of his employment with the Company and within the industry which are strongly tied to the industry and Company operations. In addition, Mr. Dyck has obtained a high level of knowledge about the development and deployment of Company specific technology and other intellectual property that is of extraordinary value to the Company and its competitive advantage within the industry. 

 

 

Exhibit 10.2

Mr. Dyck further understands and acknowledges that this Confidential Information and the Company's ability to reserve it for the exclusive knowledge and use of the Company is of great competitive importance and commercial value to the Company, and that improper use or disclosure of the Confidential Information by Mr. Dyck may cause the Company to incur financial costs, loss of business advantage, liability under confidentiality agreements with third parties, civil damages, and criminal penalties. 

 

For purposes of this Agreement, Confidential Information includes, but is not limited to, all information not generally known to the public, in spoken, printed, electronic, or any other form or medium, relating directly or indirectly to the business that: a) is marked as Confidential Information; b) is treated by the Company as Confidential Information; c) would otherwise appear to a reasonable person to be confidential or proprietary in the context and circumstances in which the information is known or used; or d) that if known to others, would give them an unfair competitive advantage. This provision is to be construed as broadly as permitted by law for the benefit of the Company to protect its trade secrets and confidential and proprietary information. 

 

Mr. Dyck agrees and covenants: to treat all Confidential Information as strictly confidential; not to directly or indirectly disclose, publish, communicate, or make available Confidential Information, or allow it to be disclosed, published, communicated, or made available, in whole or part, to any entity or person whatsoever except as required in the performance of any of Mr. Dyck's obligations to the Company under this Agreement and as authorized by an officer of the Company. 

 

Nothing in this Agreement shall be construed to prevent disclosure of Confidential Information as may be required by applicable law or regulation, or pursuant to the valid order of a court of competent jurisdiction or an authorized government agency, provided that the disclosure does not exceed the extent of disclosure required by such law, regulation, or order. Mr. Dyck shall promptly provide written notice of any such order to an authorized officer of the Company where such notice is not prohibited by law or court order. 

 

Nothing in this Agreement prohibits or restricts Mr. Dyck from filing a charge or complaint with the Securities and Exchange Commission (SEC), the Financial Industry Regulatory Authority (FINRA), or any other securities regulatory agency or self-regulatory authority, or the Equal Employment Opportunity Commission (EEOC), the National Labor Relations Board (NLRB), the Occupational Safety and Health Administration (OSHA), or any other federal, state, or local governmental agency or commission (collectively, "Government Agencies"). Mr. Dyck further understands that this Agreement does not limit Mr. Dyck's ability to communicate with any securities regulatory agency or authority or Government Agencies or otherwise participate in any investigation or proceeding that may be conducted by any securities regulatory agency or authority or Government Agencies in connection with reporting a possible securities law violation without notice to the Company. 

 

 

Exhibit 10.2

Notice of Immunity Under the Defend Trade Secrets Act of 2016. Notwithstanding any other provision of this Agreement: Mr. Dyck will not be held criminally or civilly liable under any federal or state trade secret law for any disclosure of a trade secret that is made: (1) in confidence to a federal, state, or local government official, either directly or indirectly, or to an attorney, and solely for the purpose of reporting or investigating a suspected violation of law; or (2) in a complaint or other document that is filed under seal in a lawsuit or other proceeding. If Mr. Dyck files a lawsuit for retaliation by the Company for reporting a suspected violation of law, Mr. Dyck may disclose the Company's trade secrets to Mr. Dyck's attorney and use the trade secret information in the court proceeding if Mr. Dyck: (1) files any document containing the trade secret under seal; and (2) does not disclose the trade secret, except pursuant to court order. 

 

5.Non-Interference with Business. Mr. Dyck agrees and covenants that he will not interfere with the Company’s business, including but not limited to: the disclosure of confidential and proprietary business information; the disparagement of the Company, its officers, employees, products, services; solicitation of the Company’s employees or customers; his failure to cooperate with the Company; or engaging in unfair competitive activities, as set forth below. 

6.Non-Disparagement. Mr. Dyck agrees and covenants that Mr. Dyck shall not at any time make, publish, or communicate to any person or entity or in any public forum any disparaging remarks, comments, or statements concerning the Company or its businesses, or any of its employees, officers, or directors and its existing and prospective customers, suppliers, investors, and other associated third parties, now or in the future. 

7.Non-Competition. Because of the Company’s legitimate business interest as described in this Agreement and the good and valuable consideration offered to Mr. Dyck, for the remainder of Mr. Dyck's employment with the Company and for the term of eighteen (18) months to run consecutively, beginning on the Termination Date, Mr. Dyck agrees and covenants not to engage in any Competitive Activity within the Company’s “Industry.” Industry is defined as the businesses and activities in which the Company engages as set forth in the Company’s publicly reported and filed Annual and Quarterly statements. 

 

For purposes of this non-compete clause, "Competitive Activity" means to, directly or indirectly, in whole or in part, engage in, provide services to, or otherwise participate in, whether as an employee, Company, owner, operator, manager, advisor, consultant, agent, partner, director, stockholder, officer, volunteer, intern, or any other similar capacity, any entity engaged in a business within the Company’s Industry. Without limiting the foregoing, Competitive Activity also includes activity that may require or inevitably require Mr. Dyck's disclosure of trade secrets, proprietary information, or Confidential Information. 

 

Nothing in this Agreement prohibits Mr. Dyck from purchasing or owning less than five percent (5%) of the publicly traded securities of any corporation, provided that Mr. Dyck's ownership represents a passive investment and that Mr. Dyck is not a controlling person of, or a member of a group that controls, the corporation.

 

 

Exhibit 10.2

 

8. Non-Solicitation of Employees. Mr. Dyck understands and acknowledges that the Company has expended and continues to expend significant time and expense in recruiting and training its employees and that the loss of employees would cause significant and irreparable harm to the Company. Mr. Dyck agrees and covenants not to directly or indirectly solicit, hire, recruit, attempt to hire or recruit, or induce the termination of employment of any employee of the Company or its subsidiaries for the remainder of his employment with the Company and for the term of eighteen (18) months to run consecutively following the Termination Date. 

9. Non-Solicitation of Customers. Mr. Dyck understands and acknowledges that the Company has expended and continues to expend significant time and expense in developing customer relationships, customer information, and goodwill, and that because of Mr. Dyck's experience with and relationship to the Company, Mr. Dyck has had access to and learned about much or all of the Company's customer information ("Customer Information"). Customer Information includes, but is not limited to, names, phone numbers, addresses, email addresses, order history, order preferences, chain of command, pricing information, and other information identifying facts and circumstances specific to the customer and relevant to the Company's sales, services, and business. 

 

Mr. Dyck understands and acknowledges that loss of any of these customer relationships or goodwill will cause significant and irreparable harm to the Company. 

 

Mr. Dyck agrees and covenants that for the eighteen (18) months, to run consecutively, beginning on the Termination Date, not to directly or indirectly solicit or attempt to solicit, contact (including but not limited to communications using email, regular mail, express mail, telephone, fax, instant message, social media, or any other oral, written, or electronic transmission), attempt to contact, or meet with any current, former, or prospective customers of the Company or its subsidiaries for the purpose of offering or accepting goods or services similar to or competitive with those offered by the Company. 

 

10.Cooperation. The parties agree that certain matters in which Mr. Dyck has been involved during Mr. Dyck's employment may need Mr. Dyck's cooperation with the Company in the future. Accordingly, for a period of ninety (90) days after the Termination Date, Mr. Dyck will make himself available to advise the Company as the Company deems necessary. 

 

In addition, Mr. Dyck shall cooperate with the Company regarding matters arising out of or related to Mr. Dyck's service to the Company. The Company shall make reasonable efforts to minimize disruption of Mr. Dyck's other activities. The Company shall reimburse Mr. Dyck for reasonable expenses incurred in connection with this cooperation and, to the extent that Mr. Dyck is required to spend substantial time on such matters, the Company shall compensate Mr. Dyck at an hourly rate based on Mr. Dyck's base salary on the Termination Date of $240.00 per hour. 

 

11.Remedies. In the event of a breach or threatened breach by Mr. Dyck of any provision of this Agreement, Mr. Dyck hereby consents and agrees that money damages would not afford an adequate remedy and that Company shall be entitled to seek a temporary or permanent injunction or other equitable relief against such breach or threatened breach from any court of competent jurisdiction, without the necessity of showing any actual damages, and without the necessity of posting any bond or other security. Any equitable relief shall be in addition to, not in lieu of, legal remedies, monetary damages, or other available relief. 

 

 

Exhibit 10.2

If Mr. Dyck fails to comply with any of the terms of this Agreement or post-employment obligations contained in it, the Company may, in addition to any other available remedies, reclaim any amounts paid to Mr. Dyck under the provisions of this Agreement, except for the amount of One Thousand and no/100 Dollars ($1,000.00) which shall be retained by Mr. Dyck as adequate consideration for past, present, and future compliance obligations with the restrictive covenants herein, and terminate any benefits or payments that are later due under this Agreement, without waiving the releases provided in it.

 

The Parties mutually agree that this Agreement can be specifically enforced in court and can be cited as evidence in legal proceedings alleging breach of the Agreement. 

 

12.Waiver and General Release by Mr. Dyck. Mr. Dyck acknowledges that Mr. Dyck would not be entitled to receive the Separation Pay provided for herein absent Mr. Dyck’s execution of and compliance with this Agreement. For the consideration set forth in this Agreement, which the Company does not otherwise owe, Mr. Dyck, for Mr. Dyck, Mr. Dyck’ marital community, Mr. Dyck’ heirs, executors, administrators, successors, and assigns, hereby knowingly and voluntarily affirms that he has not been subject to discrimination or any violation of law, and waives, releases, acquits and forever discharges the Company and its parent, its affiliates, partners, subsidiaries, and related corporations and each entity’s respective owners, directors, officers, shareholders, employees, agents, contractors, successors and assigns, from any and all known or unknown liability, damages, claims, causes of action or suits of any type related directly or indirectly to Mr. Dyck’s employment with Company, and the termination of Mr. Dyck’ employment with Company, including claims under any common law theories, including but not limited to, breach of contract or tort or tort-like theories and under any state or federal, constitutional, civil rights, labor, and employment laws, including but not limited to, Employee Retirement Income Security Act (ERISA), Title VII of the Civil Rights Act of 1964, the Post Civil War Civil Rights Acts (42 USC §§ 1981-1988), the Civil Rights Act of 1991, the Equal Pay Act, Older Workers’ Benefit Protection Act, the Age Discrimination in Employment Act, the Americans with Disabilities Act, the Worker Adjustment and Retraining Notification Act, the Rehabilitation Act of 1973, and the Uniformed Services Employment and Reemployment Rights Act, Executive Order 11246, all as amended, including any regulations or guidelines thereunder, any other theory, whether legal or equitable, including attorneys’ fees, and any other claims which could have been asserted up to the date of execution of this Agreement, but excluding the Fair Labor Standards Act, the National Labor Relations Act and any other state, federal or local statute or law which prohibits the release of claims generally or absent court, agency or other approval. 

 

This Release shall not affect any rights that Mr. Dyck may have under health insurance plans or under the retirement plans maintained by the Company or for workers’ compensation benefits, unemployment compensation, or any other claim for which a release is prohibited by law. 

 

Mr. Dyck assumes all risks attendant to release of claims arising out of facts occurring at any time prior to the execution of this Agreement which are unknown, unforeseen, or latent. 

 

 

Exhibit 10.2

13.Time for Consideration of Offer, Consultation with Counsel. Mr. Dyck is hereby advised to consult with an attorney prior to executing this Agreement. Mr. Dyck acknowledges that Mr. Dyck has been granted a period of twenty-one (21) days following the Termination Date within which to consider this Agreement (the “Consideration Period”). Mr. Dyck acknowledges that if Mr. Dyck signs and returns this Agreement prior to the expiration of the Consideration Period, or if Mr. Dyck chooses to forego the advice of an attorney, Mr. Dyck does so freely and knowingly, and waives any and all future claims that such action or actions would affect the validity of this Agreement. 

14.Revocation Period. Mr. Dyck may revoke this Agreement within seven (7) calendar days after signing it. Notice of revocation must be made in writing and must be received by ATTN: HUMAN RESOURCES, PO BOX 10047, Portland, Oregon 97296. If Mr. Dyck revokes this Agreement, the Company will be immediately released of any further obligation under this Agreement and this Agreement will not be effective or enforceable. 

15.Effective Date. If Mr. Dyck signs and returns this Agreement by the end of the Consideration Period, and does not revoke it, it will become effective and irrevocable on the 8th day after Mr. Dyck signs it (the “Effective Date”) and only then will Mr. Dyck be entitled to the severance payment offered herein, which will be paid to Mr. Dyck within fifteen (15) business days following the Effective Date. 

16.No Pending Claims or Lawsuits. Mr. Dyck represents that no claims, complaints, charges or other proceedings are pending in any court, administrative agency, commission or other forum relating directly to Mr. Dyck’s employment with the Company; however, nothing in this Agreement precludes Mr. Dyck from filing a charge or complaint with, or participating in an investigation conducted by, the Equal Employment Opportunity Commission (EEOC) or other federal, state or local governmental agency. Mr. Dyck does waive, however, the right to any monetary recovery, should any agency pursue any claims on Mr. Dyck’s behalf, if such waiver is permitted by applicable law. 

17.Claims Under the Older Workers Benefit Protection Act (“OWBPA”). In addition, in spite of this Agreement, Mr. Dyck still retains the right to challenge the knowing and voluntary nature of this Agreement under the Older Workers Benefit Protection Act (“OWBPA”) and Age Discrimination in Employment Act (“ADEA”) before a court, the EEOC, or any state or local agency permitted to enforce those laws, and this release does not impose any penalty or condition for doing so. Mr. Dyck understands, however, that if Mr. Dyck successfully pursues a claim against the Company under the OWBPA or the ADEA, the Company may seek to set off the amount paid to Mr. Dyck for signing the release against any amount Mr. Dyck obtains. If Mr. Dyck unsuccessfully pursues a claim against the Company under the OWBPA or the ADEA, then the Company may be entitled to recover its costs and attorneys’ fees to the extent specifically authorized by federal law. The OWBPA requires that Company provide specific information to Mr. Dyck who is 40 years of age or older and asked to execute a release of claims in connection with a group termination program. That information is attached in Exhibit A.

18.Confidential Agreement. Mr. Dyck agrees to keep the terms of this Agreement strictly confidential and not to disclose those terms to anyone, except a spouse, attorney, or tax adviser, unless compelled to do so by compulsory court process. The parties agree that this confidentiality provision is a material term of this Agreement. 

 

Exhibit 10.2

19.Entire Agreement. This document is the entire Agreement between Mr. Dyck and the Company. The Company has made no promises to Mr. Dyck other than those in this Agreement. Except as stated otherwise in this Agreement, this Agreement supersedes any previous understandings, agreements or correspondence of the parties and is binding on the parties, their heirs, executors, administrators, and successors in interest. This Agreement may be changed only in a written document signed by both Mr. Dyck and the Company. For purposes of this Agreement, the parties shall be deemed to have participated equally in its drafting. 

20.Choice of Law. This Agreement shall be interpreted under the laws of the State of OREGON, without giving effect to conflict of law principles. 

21.Voluntary Acknowledgment. The parties represent that they have each read this Agreement in its entirety and are fully aware of its content and legal effect. Each party executes this Agreement voluntarily and with full awareness of its terms. By this Agreement, Mr. Dyck acknowledges he has been advised in writing to consult with an attorney of Mr. Dyck's choosing and has consulted with such counsel as Mr. Dyck believed was necessary before signing this Agreement. 

22. IN WITNESS WHEREOF, the parties have executed this Agreement as of the dates below. 

 

THIS AGREEMENT CONTAINS A RELEASE. PLEASE READ CAREFULLY BEFORE SIGNING. 

 

WARNING: This Agreement is VOID and INVALID if signed before the termination of employment. 

 

		
	
Dated:  2/17/2021                                           
	
/s/ Jeff Dyck

	
 
	
JEFF DYCK

	
 
	
 

	
 
	
 

	
 
	
SCHNITZER STEEL IND INC.

	
 
	
 

	
Dated:  2/17/2021                                           
	
By:  /s/ Erich Wilson

	
 
	
Title:  Chief Human Resources OfficerExhibit 10.01

 

Agreement
for Service on Board of Advisors

 

This Agreement for Service
on board of advisors (the “Agreement”) is made and entered into by and between Puget Technologies, Inc.,
a publicly held Nevada corporation subject to reporting requirements under Sections 13 and 15(d) of the Securities Exchange Act
of 1934, as amended (“Puget” and the “Exchange Act,” respectively); and, Pranav Nawani, a State of Washington
resident (“Nawani”; Puget and Nawani being sometimes hereinafter collectively referred to as the Parties or generically
as a “Party”).

 

Preamble:

 

Whereas, Puget
has chartered a special board of advisors (the “Board of Advisors”) to assist it in diverse aspects of its corporate
government and business development, a copy of such charter (the “Charter”) having been heretofore filed with the United
States Securities and Exchange Commission (the “Commission”) in a report of current event on Commission Form 8-K dated
November 12, 2020; and

 

Whereas, Nawani
is highly experienced in diverse fields of science and in the invention, development and marketing of innovative technologies;
and

 

Whereas, Nawani
has indicated a willingness to serve on Puget’s Board of Advisors on the following terms and conditions, and Puget is willing to
accept such services, subject to the following conditions and on the following terms:

 

Now, therefore,
in consideration for the promises exchanged, other good and valuable consideration, and intending to be legally bound, the Parties
agree as follows:

 

Witnesseth:

 

	Article I:		Term, Renewals, Earlier Termination

 

	1.1		Term.

 

		(A)	Subject to the provisions set forth herein, the term of this Agreement shall be deemed to commence immediately following the
execution of this Agreement by all of the Parties and shall continue for a term of two years, subject to earlier termination at
the pleasure of Puget’s board of directors.

 

		(B)	Unless Puget or Nawani provides the other in writing in the manner hereinafter set forth for the provision of notice of an
intention not to renew this Agreement on or before the ninetieth day prior to its termination, this Agreement will be deemed renewed
as to all of the Parties for successive one year terms.

 

		(B)	In the event that this Agreement is continued after expiration of its initial term, then, unless a new agreement pertaining
to the subject matter of this Agreement is entered into specifically superseding the provisions of this Agreement, this Agreement
shall be deemed continuingly self-renewing with the compensation called for hereunder being the annualized (i.e., half of
the compensation called for under this Agreement for the initial term, given its longer duration), for the ensuing year on terms
modified solely as follows:

 

		(1)	The term and exercise period of the new Non-qualified Incentive Stock Options shall be modified to reflect, as closely as possible,
terms materially similar to those that applied to the Non-qualified Incentive Stock Option described in Section 3.1 of this Agreement;
and

 

    	 

    	Page 2 of 16

    

 

		(2)	The number of Non-qualified Incentive Stock Options shall be prorated based on the part of the year during which this Agreement
is in effect and based on the roles in which Nawani serves on Puget’s Board of Advisors based on the formula hereinafter set forth.

 

	1.2		Final Settlement.

 

Upon termination of this Agreement and payment to Nawani of all
amounts due him hereunder, Nawani shall execute and deliver to Puget on a form prepared by Puget, a receipt for such sums and a
release of all claims, except such claims as may have been submitted pursuant to the terms of this Agreement and which remain unpaid,
and, shall forthwith tender to Puget all records, manuals and written procedures, as may be desired by it for the continued conduct
of its business.

 

	Article II:		Performance of Duties as Members of the Board of Advisors

 

	2.1		Performance of Duties

 

		(A)	Nawani shall perform his duties as a member of the Board of Advisors, including duties as a member of any committee of Puget’s
Board of Advisors upon which he may serve, pursuant to the requirements set forth in Puget’s certificate of incorporation, bylaws
and the Charter (its “Constituent Documents”), in good faith, in a manner he reasonably believes to be in the best interests
of Puget, and with such care as is legally required for corporate fiduciaries under the laws of the State of Nevada and the United
States Securities and Exchange Commission, (the “Commission”) unless a higher standard of care is specified in Puget’s
Constituent Documents.

 

		(B)	In performing his duties, Nawani shall be entitled to rely on information, opinions, reports or statements, including financial
statements and other financial data, in each case prepared or presented by:

 

		(1)	One or more officers or employees of Puget who Nawani reasonably believes to be reliable and competent in the matters presented;

 

		(2)	Legal counsel, public accountants or other persons as to matters which Nawani reasonably believes to be within such persons’
professional or expert competence; or

 

		(3)	A committee of Puget’s Board of Advisors upon which Nawani does not serve, duly designated in accordance with a provision of
the Charter or Puget’s certificate of incorporation or bylaws, as to matters within its designated authority, which committee Nawani
reasonably believes to merit confidence.

 

		(C)	Nawani shall not be considered to be acting in good faith if he has knowledge concerning the matter in question that would
cause such reliance described in Section 2.1(B) to be unwarranted.

 

		(D)	If Nawani is present at a meeting of Puget’s Board of Advisors at which action on any corporate matter is taken it shall be
presumed that he assented to the action taken unless he votes against such action or abstains from voting in respect thereto because
of an asserted conflict of interest.

 

  

Please initial: Puget: _____ Nawani: _____

 

Puget Technologies, Inc.

1200 North Federal Highway, Suite 200-A; Boca Raton, Florida 33432; 561-210-8535
information.puget@gmail.com

 

    	 

    	Page 3 of 16

    

 

		(E)	If Nawani is requested to provide comments on any corporate matters through a written request delivered by hand, mail, fax
or e-mail, then, unless he affirmatively provides written comments thereto or specifies in a written response that he is unable
or unwilling to provide comments thereto, he shall be presumed to have approved the matter as accurate, complete and not misleading,
and if he has indicated his inability or unwillingness to comment on more than three occasions within any fiscal year, he shall
be presumed to have refused to perform his duties as a member of Puget’s Board of Advisors.

 

	2.2		Conflicts of Interest

 

		(A)	Neither Nawani nor any Affiliate of Nawani will enter into any contract or other transaction with Puget unless the fact of
such relationship or interest is disclosed or known to Puget’s board of directors or a committee thereof which authorizes, approves
or ratifies the contract or transaction and it is approved by a vote or consent sufficient for the purpose without counting the
vote or consent of Nawani if he is also a member of Puget’s board of directors; and, if stockholder approval is required, the fact
of such relationship or interest is disclosed or known to the stockholders entitled to vote and they authorize, approve or ratify
such contract or transaction by vote or written consent.

 

		(B)	If he is also a member of Puget’s board of directors, Nawani may be counted in determining the presence of a quorum at a meeting
thereof or of a committee thereof which authorizes, approves or ratifies such contract or transaction.

 

	2.3		Performance and Attendance

 

		(A)	Nawani will serve on Puget’s Board of Advisors and on such committees of Puget’s Board of Advisors as to which he is appointed
and will discharge his duties thereunder in good faith, using his best efforts on behalf of Puget and its stockholders.

 

		(B)	Nawani shall use his best efforts to participate in a timely manner in all meetings of Puget’s Board of Advisors or of committees
thereof to which he has been appointed or elected, and if unavailable in person, to make arrangements to participate by teleconference
or other legally available means.

 

		(C)	In the event that Nawani fails to participate in a meeting of Puget’s Board of Advisors or of committees thereof to which he
has been appointed or elected, Nawani shall promptly acquaint himself with all matters transacted at such meeting and if practical,
shall provide the Board of Advisors or committee involved with supplemental input and advice on all such matters and if appropriate
and possible, shall request reconsideration of any material matters as to which his participation would have affected the result
of actions taken.

 

		(D)	In the event that Nawani misses more than 20% of the meetings of Puget’s Board of Advisors or of committees thereof to which
he has been appointed or elected, Nawani will, at the option of Puget’s board of directors, be presumed to have resigned from the
Board of Advisors prior to the expiration of the term of this Agreement based on an inability to dedicate required time to the
affairs of Puget and this Agreement shall be presumptively be deemed the instrument of such resignation.

 

  

Please initial: Puget: _____ Nawani: _____

 

Puget Technologies, Inc.

1200 North Federal Highway, Suite 200-A; Boca Raton, Florida 33432; 561-210-8535
information.puget@gmail.com

 

    	 

    	Page 4 of 16

    

  

	2.4		Resignation

 

Nawani may resign at any time by providing Puget’s Board of Advisors
with written notice indicating his intention to resign and the effective date thereof; provided, however, that resignation,
whether voluntary or presumptive (as provided above) shall result in a forfeiture of all rights to compensation under this Agreement,
other than as to compensation that has accrued pursuant to the provisions of this Agreement.

 

	2.5		Consideration for Nomination as a Member of Puget’s Board of Directors

 

Assuming that Nawani would qualify as an “independent member”
of Puget’s board of directors, as that term is defined under applicable corporate and securities laws, rules and regulations, and
has served on the Board of Advisors for an uninterrupted period of not less than three years, then he may request in writing to
be included among the candidates for nomination for election as directors at the next scheduled annual meeting of stockholders
and will be so included, with or without a favorable recommendation by Puget’s board of directors, unless the board of directors
finds specific cause why his request should be denied, and such specific cause is detailed in a written response to him within
thirty business days of the meeting of Puget’s board of directors next following submission of the subject request.

 

	Article III:		Compensation

 

	3.1		Non-Qualified Stock Option & Stock Incentive Plan

 

		(A)	Nawani shall be compensated for the services as a member of Puget’s Board of Advisors and committees thereof with Common Stock
purchase options issuable under the terms and provisions of Puget’s then current Non-Qualified Stock Option & Stock Incentive
Plan which will vest during the term of this Agreement on a prorated monthly basis, as follows:

 

		(1)	For basic service by Nawani as a member of Puget’s Board of Advisors, Nawani shall be granted a five year option to purchase
240,000 shares of Puget’s Common Stock.

 

		(2)	For services on committees, the option will be increased by an aggregate of an additional 120,000 shares; and

 

		(3)	For services as a vice chair of committees (Puget’s president serving as the chair of the Board of Advisors and of all committees
thereof) the option will be increased by an aggregate of an additional 120,000 shares.

 

		(4)	The shares subject to the option will be adjusted to reflect any changes in Puget’s Common Stock as a result of any stock split
or reverse stock split thereof using as a basis Puget’s authorized capitalization as of November 30, 2020.

 

		(5)	Exercise of the foregoing options will be subject to the condition precedent that Nawani comply on a timely basis with all
personal reporting obligations to the Commission pertaining to his role with Puget and that Nawani serve in the designated positions
providing all of the services required thereby prudently and in good faith.

 

  

Please initial: Puget: _____ Nawani: _____

 

Puget Technologies, Inc.

1200 North Federal Highway, Suite 200-A; Boca Raton, Florida 33432; 561-210-8535
information.puget@gmail.com

 

    	 

    	Page 5 of 16

    

 

		(B)	The securities to be issued as compensation under this Agreement (the “Securities”) will be issued without registration
under the provisions of Section 5 of the Securities Act or the securities regulatory laws and regulations of Nawani’s state of
domicile pursuant to exemptions provided pursuant to Section 4(a)(2) of the Act and comparable provisions of the laws of Nawani’s
state of domicile.

 

		(C)	In conjunction with the foregoing:

 

		(1)	Nawani shall be responsible for preparing and filing any reports concerning this transaction with the Commission and with the
securities regulatory authorities of Nawani’s state of domicile and payment of any required filing fees (none being expected);

 

		(2)	All of the Securities will bear legends restricting their transfer, sale, conveyance or hypothecation unless such Securities
are either registered under the provisions of Section 5 of the Act and under the securities regulatory authorities of Nawani’s
state of domicile, or an opinion of legal counsel, in form and substance satisfactory to legal counsel to Puget is provided to
Puget’s General Counsel to the effect that such registration is not required as a result of applicable exemptions therefrom;

 

		(3)	Puget’s transfer agent shall be instructed not to transfer any of the Securities unless the General Counsel for Puget advises
it that such transfer is in compliance with all applicable laws;

 

		(4)	Nawani is acquiring the Securities for his own account, for investment purposes only, and not with a view to further sale or
distribution; and

 

		(5)	Nawani or his advisors have examined information concerning Puget contained on the Commission’s Internet web site at www.sec.gov,
in the EDGAR archives, as well as Puget’s books and records and have questioned Puget’s officers and advisors as to such matters
involving Puget it deemed appropriate.

 

		(D)	In the event that Puget files a registration or notification statement with the Commission or any state securities regulatory
authorities registering or qualifying any of its securities for sale or resale to the public as free trading securities, it will
notify Nawani of such intent at least 15 business days prior to such filing, and shall, if requested by him, include any shares
theretofore issued upon exercise of the Options in such registration or notification statement, provided that Nawani cooperates
in a timely manner with any requirements for such registration or qualification by notification, including, without limitation,
the obligation to provide complete and accurate information therefor; and, provided further that, the inclusion of such securities
in such notification or registration statement is not deemed by any participating underwriter to be detrimental to a proposed offering
of Puget’s securities to the public or to the price or liquidity of Puget’s publicly held securities.

 

  

Please initial: Puget: _____ Nawani: _____

 

Puget Technologies, Inc.

1200 North Federal Highway, Suite 200-A; Boca Raton, Florida 33432; 561-210-8535
information.puget@gmail.com

 

    	 

    	Page 6 of 16

    

 

	3.2		Contingent Compensation

 

In addition to the compensation described above and in Section 3.1
(unless comparable compensation is provided for under the terms of a separate employment or consulting agreement) and subject to
applicable legal restrictions based on licensing and other requirements, except with reference to transactions that benefit Nawani
or his Affiliates as inventors of proprietary technologies or established contacts generated by them in the past that may be referred
to Puget:

 

		(A)	In the event that Nawani arranges or provides funding for Puget on terms more beneficial than those reflected in Puget’s current
principal financing agreements, copies of which are included among Puget’s records available through the SEC’s EDGAR web site,
Nawani shall be entitled, at its election, to either:

 

		(1)	A fee equal to 5% of such savings, on a continuing basis; or

 

		(2)	If equity funding is provided through Nawani or any of his Affiliates, a discount of 5% from the bid price for the subject
equity securities, if they are issuable as free trading securities, or, a discount of 25% from the bid price for the subject equity
securities, if they are issuable as restricted securities (as the term restricted is used for purposes of SEC Rule 144); and

 

		(3)	If equity funding is arranged for Puget by Nawani and Puget is not obligated to pay any other source compensation in conjunction
therewith, other than the normal commissions charged by broker dealers in securities in compliance with the compensation guidelines
of the Financial Industry Regulatory Authority, Inc., Nawani shall be entitled to a bonus in a sum equal to 5% of the net proceeds
of such funding.

 

		(B)	In the event that Nawani generates business for Puget, then, on any sales resulting therefrom, Nawani shall be entitled to
a commission equal to 5% of the net income derived by Puget therefrom, on a continuing basis.

 

	3.3		Indemnification

 

Puget will defend, indemnify and hold the members of its Board of
Advisors and of all committees thereof harmless from all liabilities, suits, judgments, fines, penalties or disabilities, including
expenses associated directly, therewith (e.g., legal fees, court costs, investigative costs, witness fees, etc.)
resulting from any reasonable actions taken by him in good faith on behalf of Puget, its affiliates or for other persons or entities
at the request of the Puget’s board of directors, to the fullest extent legally permitted, and in conjunction therewith, shall
assure that all required expenditures are made in a manner making it unnecessary for the members of its Board of Advisors to incur
any out of pocket expenses; provided, however, that the members of its Board of Advisors involved permit Puget to select
and supervise all personnel involved in such defense and that the members of its Board of Advisors involved waive any conflicts
of interest that such personnel may have as a result of also representing Puget, its stockholders or other personnel and agrees
to hold them harmless from any matters involving such representation, except such as involve fraud or bad faith.

 

  

Please initial: Puget: _____ Nawani: _____

 

Puget Technologies, Inc.

1200 North Federal Highway, Suite 200-A; Boca Raton, Florida 33432; 561-210-8535
information.puget@gmail.com

 

    	 

    	Page 7 of 16

    

 

	Article Four:		Special Covenants

 

	4.1		Confidentiality.

 

		(A)	Nawani acknowledges that, in and as a result of his duties hereunder, he will be developing for Puget, making use of, acquiring
and/or adding to, confidential information of special and unique nature and value relating to such matters as Puget’s trade secrets,
systems, procedures, manuals, confidential reports, personnel resources, strategic and tactical plans, advisors, clients, investors
and funders; consequently, as material inducement to the entry into this Agreement by Puget, Nawani hereby covenants and agrees
that he shall not, at any time during or following the terms of this Agreement, directly or indirectly, personally use, divulge
or disclose, for any purpose whatsoever, any of such confidential information which has been obtained by or disclosed to him as
a result of his association with Puget, or Puget’s affiliates.

 

		(B)	In the event of a breach or threatened breach by Nawani of any of the provisions of this Section 4.1, Puget, in addition to
and not in limitation of any other rights, remedies or damages available to Puget, whether at law or in equity, shall be entitled
to a permanent injunction in order to prevent or to restrain any such breach by Nawani, or by his partners, agents, representatives,
servants, employers, employees, affiliates and/or any and all persons directly or in-directly acting for or with them.

 

	4.2		Special Remedies.

 

In view of the irreparable harm and damage which would undoubtedly
occur to Puget as a result of a breach by Nawani of the covenants or agreements contained in this Article Four, and in view of
the lack of an adequate remedy at law to protect Puget’s interests, Nawani hereby covenants and agrees that Puget shall have the
following additional rights and remedies in the event of a breach hereof:

 

		(A)	Nawani hereby consents to the issuance of a permanent injunction enjoining him from any violations of the covenants set forth
in Section 4.1 hereof; and

 

		(B)	Because it is impossible to ascertain or estimate the entire or exact cost, damage or injury which Puget may sustain prior
to the effective enforcement of such injunction, Nawani hereby covenants and agrees to pay over to Puget, in the event he violates
the covenants and agreements contained in Section 4.2 hereof, the greater of:

 

		(1)	Any payment or compensation of any kind received by him because of such violation before the issuance of such injunction, or

 

		(2)	The sum of One Thousand ($1,000.00) Dollars per violation, which sum shall be liquidated damages, and not a penalty, for the
injuries suffered by Puget as a result of such violation, the Parties hereto agreeing that such liquidated damages are not intended
as the exclusive remedy available to Puget for any breach of the covenants and agreements contained in this Article Four, prior
to the issuance of such injunction, the Parties recognizing that the only adequate remedy to protect Puget from the injury caused
by such breaches would be injunctive relief.

 

  

Please initial: Puget: _____ Nawani: _____

 

Puget Technologies, Inc.

1200 North Federal Highway, Suite 200-A; Boca Raton, Florida 33432; 561-210-8535
information.puget@gmail.com

 

    	 

    	Page 8 of 16

    

 

	4.3		Cumulative Remedies

 

Nawani hereby irrevocably agrees that the remedies described in
Section 4.3 hereof shall be in addition to, and not in limitation of, any of the rights or remedies to which Puget is or may be
entitled to, whether at law or in equity, under or pursuant to this Agreement.

 

	4.4		Acknowledgment of Reasonableness

 

		(A)	Nawani hereby represents, warrants and acknowledges that he has carefully read and considered the provisions of this Article
Four and, having done so, agrees that the restrictions set forth herein are fair and reasonable and are reasonably required for
the protection of the interests of Puget, its stockholders, officers, other advisors and employees; consequently, in the event
that any of the above described restrictions shall be held unenforceable by any court of competent jurisdiction, Nawani hereby
covenants, agrees and directs such court to substitute a reasonable judicially enforceable limitation in place of any limitation
deemed unenforceable and, Nawani hereby covenants and agrees that if so modified, the covenants contained in this Article Four
shall be as fully enforceable as if they had been set forth herein directly by the Parties.

 

		(B)	In determining the nature of this limitation, Nawani hereby acknowledges, covenants and agrees that it is the intent of the
Parties that a court adjudicating a dispute arising hereunder recognize that the Parties desire that this covenant not to compete
be imposed and maintained to the greatest extent possible.

 

	4.5		Unauthorized Acts

 

		(A)	Nawani hereby covenants and agrees that he will not do any act or incur any obligation on behalf of Puget of any kind whatsoever,
except as authorized by Puget’s board of directors.

 

		(B)	The Parties recognize that certain responsibilities and obligations are imposed by federal and state securities laws and by
the applicable rules and regulations of stock exchanges, the FINRA, in house “due diligence” or “compliance”
departments of brokerage houses, etc.; accordingly, Nawani agrees that he will not:

 

		(1)	Release any financial or other material information or data about Puget without the prior consent and approval of Puget;

 

		(2)	Conduct any meetings with financial analysts concerning Puget without informing Puget in advance of the proposed meeting and
the format or agenda of such meeting; or

 

		(3)	Release any information or data about Puget to any selected or limited person(s), entity, or group if Nawani is aware that
such information or data has not been generally released or promulgated.

 

  

Please initial: Puget: _____ Nawani: _____

 

Puget Technologies, Inc.

1200 North Federal Highway, Suite 200-A; Boca Raton, Florida 33432; 561-210-8535
information.puget@gmail.com

 

    	 

    	Page 9 of 16

    

 

		(C)	Nawani shall restrict or cease, as directed by Puget, all efforts on behalf of Puget, including all dissemination of information
regarding Puget, immediately upon receipt of instructions (in writing by email or letter) to that effect from Puget.

 

		(D)	If Nawani learns of any pending securities offering to be made or expected to be made by Puget, he shall immediately cease
all public relations activities on behalf of Puget until receipt of instructions by Puget in writing as to how to proceed, and
thereafter shall proceed only in accordance with Puget’s written instructions.

 

		(E)	Nawani shall not take any action which would in any way adversely affect the reputation, standing or prospects of Puget clients
or which would cause Puget to be in violation of applicable laws.

 

	4.6		Covenant not to Disparage

 

Nawani hereby irrevocably covenants and agrees that during the term
of this Agreement and after its termination, he will refrain from making any remarks that could be construed by anyone, under any
circumstances, as disparaging, directly or indirectly, specifically, through innuendo or by inference, whether or not true, about
Puget, its constituent members, or his officers, advisors, stockholders, employees, agent or affiliates, whether related to the
business of Puget, to other business or financial matters or to personal matters.

 

	Article V:		Agreement to Comply with Legal Restrictions.

 

	5.1		Puget Securities

 

		(A)	Nawani is not the record or beneficial owner of any Puget securities.

 

		(B)	Nawani agrees that any Puget securities that he purchases or with respect to which he otherwise acquires record or beneficial
ownership after the date of this Agreement (“New Puget Securities”) shall be subject to the terms and conditions of this
Agreement to the same extent as if they were owned prior to the date of this Agreement.

 

		(C)	Nawani has full power and authority to execute this Agreement, to make the representations, warranties and covenants herein
contained and to perform his obligations hereunder.

 

		(D)	Nawani has no present plan or intention (a “Plan”) to sell, transfer, exchange, pledge or otherwise dispose of, including
by means of a distribution by a partnership to its partners, or a corporation to its stockholders, or any other transaction which
results in a reduction in the risk of ownership (any of the foregoing being hereinafter referred to generically as a “Sale”)
of any of the Puget securities that he may acquire during the term of this Agreement, or any securities that may be paid as a dividend
or otherwise distributed thereon with respect thereto or issued or delivered in exchange or substitution therefor.

 

  

Please initial: Puget: _____ Nawani: _____

 

Puget Technologies, Inc.

1200 North Federal Highway, Suite 200-A; Boca Raton, Florida 33432; 561-210-8535
information.puget@gmail.com

 

    	 

    	Page 10 of 16

    

 

		(E)	If Nawani’s representations in this Agreement cease to be true at any during the term of this Agreement, he will deliver to
Puget’s general counsel a written statement to that effect, specifying the nature of such change signed by him.

 

	5.2		Conditions Applicable to Transactions in Puget Securities

 

		(A)	Nawani agrees not to transfer, sell, exchange, pledge or otherwise dispose of or encumber any New Puget Securities acquired
or to make any offer or agreement relating thereto during the time that Nawani serves on Puget’s Board of Advisors and for an additional
period of 90 days thereafter (the term of this agreement), except:

 

		(1)	During such periods following the filing by Puget of reports with the Securities and Exchange Commission as may be determined
by Puget’s board of directors as adequate to provide currency of information required to avoid violation of restrictions under
the Securities Act and the Exchange Act against trading on inside information.

 

		(2)	In full compliance with the requirements of:

 

		(a)	Rule 144 promulgated by the Commission under authority granted by the Securities Act;

 

		(b)	If Puget becomes subject to Section 12 of the Exchange Act (not currently contemplated), Sections 13D and 16(a) of the Exchange
Act, including requirements pertaining to timely filing of Commission Forms 3, 4 and 5 or Schedule 13-D; and

 

		(3)	In full compliance with the procedures established by Puget (including requirements imposed upon its transfer agent) to assure
compliance with the foregoing.

 

		(B)	No transactions permitted pursuant to Section 5.2(A) shall be effected until:

 

		(1)	Legal counsel representing Nawani (which legal counsel is reasonably satisfactory to Puget), shall have advised Puget in a
written opinion letter satisfactory to Puget and Puget’s legal counsel, and upon which Puget and its legal counsel may rely, that
no registration under the Securities Act would be required in connection with the proposed sale, transfer or other disposition
and that all requirements under the Exchange Act, including Sections 13 and 16 thereof have been complied with; or

 

		(2)	A registration statement under the Securities Act covering Puget’s Stock proposed to be sold, transferred or otherwise disposed
of, describing the manner and terms of the proposed sale, transfer or other disposition, and containing a current prospectus, shall
have been filed with the Securities and Exchange Commission (the “Commission”) and made effective under the Securities
Act; or

 

		(3)	An authorized representative of the Commission shall have rendered written advice to Nawani (sought by his legal counsel, with
a copy thereof and all other related communications delivered to Puget) to the effect that the Commission would take no action,
or that the staff of the Commission would not recommend that the Commission take any action, with respect to the proposed disposition
if consummated; or

 

  

Please initial: Puget: _____ Nawani: _____

 

Puget Technologies, Inc.

1200 North Federal Highway, Suite 200-A; Boca Raton, Florida 33432; 561-210-8535
information.puget@gmail.com

 

    	 

    	Page 11 of 16

    

 

		(4)	Puget’s general counsel and president shall have specifically consented to the transaction in wiring pursuant to authority
delegated in a specific resolution of Puget’s board of directors.

 

		(C)	Nawani also understands and agrees that stop transfer instructions will be given to Puget’s transfer agent with respect to
certificates evidencing Nawani’s Puget securities and that there will be placed on the certificates evidencing his Puget securities
legends stating in substance: “The securities represented by this certificate were issued without registration under the Securities
Act of 1933, as amended, or comparable state laws in reliance on the provisions of Section 4(a)(1), 3(b) or 4(a)(2) of such act,
and comparable state law provisions.

 

		(D)	These securities may not be transferred pledged or hypothecated unless they are first registered under applicable federal,
state or foreign laws, or the transaction is demonstrated to be exempt from such requirements to Puget’s satisfaction, and, all
required reports pertaining thereto.”

 

	5.3		No Proxy Solicitations.

 

Nawani will not, and will not permit any entity under his control
to:

 

		(A)	Solicit proxies or become a “participant” in a “solicitation” (as such terms are defined in Regulation
14A under the Exchange Act) with respect to any meetings of Puget’s stockholders;

 

		(B)	Initiate a stockholders’ vote or action by consent of Puget stockholders with respect to any stockholders action; or

 

		(C)	Become a member of a “group” [as such term is used in Section 13(d) of the Exchange Act] with respect to any voting
securities of Puget.

 

	5.4		No Limitation on Discretion as Member of the Board of Advisors

 

This Article is intended solely to apply to the exercise by Nawani
of rights attaching to ownership of the Puget securities and nothing herein shall be deemed to apply to, or to limit in any manner
his discretion with respect to, any action which may be taken or omitted by him acting in his fiduciary capacity as a member of
Puget’s Board of Advisors or any committee thereof.

 

	Article VI:		Miscellaneous

 

	6.1		Notices

 

		(A)	All notices, demands or other communications hereunder shall be in writing, and unless otherwise provided, shall be deemed
to have been duly given on the first business day after mailing by registered or certified mail, return receipt requested, postage
prepaid, addressed as follows:

 

  

Please initial: Puget: _____ Nawani: _____

 

Puget Technologies, Inc.

1200 North Federal Highway, Suite 200-A; Boca Raton, Florida 33432; 561-210-8535
information.puget@gmail.com

 

    	 

    	Page 12 of 16

    

 

To Puget: Puget Technologies, Inc., 1200 North Federal
Highway, Boca Raton, Florida 33432, USA. Phone 561 210 8535. information.puget@gmail.com;

 

To Nawani: Pranav Nawani. 5710 South Hailee Lane, Number
52; Spokane, Washington 99223. (631) 875-3651; pranavnawani@gmail.com;

 

or

 

		(B)	To such other address or to such other person as any Party shall designate to the other for such purpose in the manner hereinafter
set forth.

 

	6.2		Amendment

 

		(A)	No modification, waiver, amendment, discharge or change of this Agreement shall be valid unless the same is in writing and
signed by the Party against which the enforcement of said modification, waiver, amendment, discharge or change is sought.

 

		(B)	This Agreement may not be modified without the consent of Puget’s board of directors.

 

	6.3		Merger

 

		(A)	This instrument contains all of the understandings and agreements of the Parties with respect to the subject matter discussed
herein.

 

		(B)	All prior agreements whether written or oral, are merged herein and shall be of no force or effect.

 

	6.4		Survival

 

The several representations, warranties and covenants of the Parties
contained herein shall survive the execution hereof and shall be effective regardless of any investigation that may have been made
or may be made by or on behalf of any Party.

 

	6.5		Severability

 

If any provision or any portion of any provision of this Agreement,
or the application of such provision or any portion thereof to any person or circumstance shall be held invalid or unenforceable,
the remaining portions of such provision and the remaining provisions of this Agreement or the application of such provision or
portion of such provision as is held invalid or unenforceable to persons or circumstances other than those to which it is held
invalid or unenforceable, shall not be effected thereby.

 

	6.6		Governing Law

 

This Agreement shall be governed by and construed, interpreted and
enforced in accordance with the laws of the State of Nevada, except for any choice of law provisions that would result in the application
of the law of another jurisdiction.

 

  

Please initial: Puget: _____ Nawani: _____

 

Puget Technologies, Inc.

1200 North Federal Highway, Suite 200-A; Boca Raton, Florida 33432; 561-210-8535
information.puget@gmail.com

 

    	 

    	Page 13 of 16

    

 

	6.7		Third Party Reliance

 

Legal counsel to and accountants for the Parties shall be entitled
to rely upon this Agreement.

 

	6.6		Venue

 

Any proceeding arising between the Parties in any matter pertaining
or related to this Agreement shall, to the extent permitted by law, be held in Palm Beach County, Florida.

 

	6.7		Dispute Resolution

 

		(A)	In any action between the Parties to enforce any of the terms of this Agreement or any other matter arising from this Agreement,
the prevailing Party shall be entitled to recover its costs and expenses, including reasonable attorneys’ fees up to and including
all negotiations, proceedings and appeals, whether or not formal proceedings are initiated; however, notwithstanding the foregoing

 

		(B)	In the event of any dispute arising under this Agreement, or the negotiation thereof or inducements to enter into the Agreement,
the dispute shall, at the request of any Party, be exclusively resolved through the following procedures:

 

	 	(1)		Mediation:

 

		(a)	First, the issue shall be submitted to mediation before a mediation service in Palm Beach County, Florida, to be selected by
lot from six alternatives to be provided, three by Puget and three by Nawani.

 

		(b)	The mediation efforts shall be concluded within ten business days after their initiation unless the Parties unanimously agree
to an extended mediation period.

 

		(2)	In the event that mediation does not lead to a resolution of the dispute then at the request of any Party, the Parties shall
submit the dispute to binding arbitration before an arbitration service located in Palm Beach County, Florida, to be selected by
lot, from six alternatives to be provided, three by Puget and three by Nawani.

 

		(3)	Expenses

 

		(a)	Expenses of mediation shall be borne by Puget, if successful.

 

		(b)	Expenses of mediation, if unsuccessful and of arbitration shall be borne by the Party or Parties against whom the arbitration
decision is rendered.

 

		(c)	If the terms of the arbitral award do not establish a prevailing Party, then the expenses of unsuccessful mediation and arbitration
shall be borne equally by the Parties.

 

  

Please initial: Puget: _____ Nawani: _____

 

Puget Technologies, Inc.

1200 North Federal Highway, Suite 200-A; Boca Raton, Florida 33432; 561-210-8535
information.puget@gmail.com

 

    	 

    	Page 14 of 16

    

 

	6.8		Benefit of Agreement

 

		(A)	This Agreement may not be assigned by Nawani.

 

		(B)	Subject to the restrictions on transferability and assignment contained herein, the terms and provisions of this Agreement
shall be binding upon and inure to the benefit of the Parties, their successors, assigns, personal representative, estate, heirs
and legatees.

 

	6.9		Interpretation

 

		(A)	The words “include,” “includes” and “including” when used herein shall be deemed in each case
to be followed by the words “without limitation.”

 

		(B)	The headings contained in this Agreement are for reference purposes only and shall not affect in any way the meaning or interpretation
of this Agreement.

 

		(C)	The captions in this Agreement are for convenience and reference only and in no way define, describe, extend or limit the scope
of this Agreement or the intent of any provisions hereof.

 

		(D)	All pronouns and any variations thereof shall be deemed to refer to the masculine, feminine, neuter, singular or plural, as
the identity of the Party or Parties, or their personal representatives, successors and assigns may require.

 

		(E)	The Parties agree that they have been represented by counsel during the negotiation and execution of this Agreement and, therefore,
waive the application of any law, regulation, holding or rule of construction providing that ambiguities in an agreement or other
document will be construed against the party drafting such agreement or document.

 

	6.10		Further Assurances

 

The Parties hereby agree to do, execute, acknowledge and deliver
or cause to be done, executed or acknowledged or delivered and to perform all such acts and deliver all such deeds, assignments,
transfers, conveyances, powers of attorney, assurances, recipes, records and other documents, as may, from time to time, be required
herein to effect the intent and purposes of this Agreement.

 

	6.11		Status

 

Nothing in this Agreement shall be construed or shall constitute
an agency, employment, partnership or joint venture relationship.

 

	6.12		Counterparts

 

	(A)		This Agreement may be executed in any number of counterparts.

 

  

Please initial: Puget: _____ Nawani: _____

 

Puget Technologies, Inc.

1200 North Federal Highway, Suite 200-A; Boca Raton, Florida 33432; 561-210-8535
information.puget@gmail.com

 

    	 

    	Page 15 of 16

    

 

		(B)	Execution by exchange of electronic signatures through the Internet shall be deemed legally sufficient to bind the signatory;
however, the Parties shall, for aesthetic purposes, prepare a fully executed original version of this Agreement, which shall be
the document filed with the Securities and Exchange Commission.

 

	6.13		License

 

		(A)	This Agreement is the property of Qest Consulting Group, Inc., a Colorado corporation that serves as a strategic consultant
to Puget (“Qest”) and the use hereof by the Parties is authorized hereby solely for purposes of this transaction.

 

		(B)	The use of this form of agreement or of any derivation thereof without Qest’ prior written permission is prohibited.

 

		(C)	This Agreement shall not be more strictly interpreted against any Party as a result of its authorship.

 

		(D)	The Parties acknowledge that Qest serves as a strategic consultant to Puget and has acted as scrivener for the Parties in this
transaction but that Qest is neither a law firm nor an agency subject to any professional regulation or oversight.

 

		(E)	Because of the inherent conflict of interests involved, Qest has advised all of the Parties to retain independent legal and
accounting counsel to review this Agreement and its exhibits and incorporated materials on their behalf.

 

		(F)	The decision by any Party not to use the services of legal counsel in conjunction with this transaction shall be solely at
their own risk, each Party acknowledging that applicable rules of Nawani’s state of domicile prevent Puget’s general counsel, who
has reviewed, approved and caused modifications on behalf of Puget, from representing anyone other than Puget in this transaction.

 

	6.14		Waiver

 

No waiver by any party hereto of any condition or of any breach
of any provision of this Agreement shall be effective unless in writing and signed by each party hereto.

 

Balance of page left intentionally blank

 

  

Please initial: Puget: _____ Nawani: _____

 

Puget Technologies, Inc.

1200 North Federal Highway, Suite 200-A; Boca Raton, Florida 33432; 561-210-8535
information.puget@gmail.com

 

    	 

    	Page 16 of 16

    

 

In
Witness Whereof, the Parties have caused this Agreement to be executed by themselves or their duly authorized respective
officers, all as of the last date set forth below:

 

	Signed, sealed and delivered in our presence:	 	 	 	 
	 	 	 	 	PUGET TECHNOLOGIES, INC.
	 	 	 	 	 
	 	 	{Corporate Seal}	 	 
	 	 	 	By:	 
	 	 	 	 	Hermann Burckhardt, President
	Dated: April 6, 2021	 	 	 	 
	 	 	 	Attest:	 
	 	 	 	 	Thomas Jaspers, Secretary
	 	 	 	 	 
	Signed, sealed and delivered in our presence:	 	 	 	 
	 	 	 	 	NAWANI:
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	Pranav Nawani
	Dated: April 6, 2021

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00325-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00325-of-00352.parquet"}]]