Document:

Exhibit 10.5

 

DEBT FORGIVENESS AGREEMENT

 

THIS DEBT FORGIVENESS
AGREEMENT (this “Agreement”) is made and entered into and effective as of the 31st day of December,
2019 (the “Effective Date”) by and between IIOT-OXYS, INC., a Nevada corporation (the “Company”),
and Antony Coufal, an individual residing in Massachusetts (“Mr. Coufal”).

 

WHEREAS, effective
as of April 23, 2018, the Company entered into an Amended and Restated Consulting Agreement with Mr. Coufal (the “Consulting
Agreement”) pursuant to which the Company (amongst other things) agreed to pay to Mr. Coufal a monthly fee of $9,375;

 

WHEREAS, as
of the Effective Date, there were $182,475 in accrued and unpaid consulting fees owed to Mr. Coufal pursuant to the Consulting
Agreement; and

 

WHEREAS, Mr.
Coufal wishes to forgive $82,475 of the accrued and unpaid consulting fees owed to him as of the Effective Date (the “Forgiven
Fees”) so that the Company is no longer obligated to pay to Mr. Coufal the Forgiven Fees.

 

NOW, THEREFORE,
in consideration of the foregoing premises, and the agreements set forth herein, and for other good and valuable consideration,
the receipt and sufficiency of which the parties hereby acknowledge, the parties hereto hereby agree as follows:

 

1.                     
Forgiven Consulting Fees. Mr. Coufal hereby waives, cancels and forgives payment by the Company of the Forgiven Fees in
consideration of and conditioned upon the Company’s continuance of the Consulting Agreement.

 

2.                     
Absence of Note; Cancellation of Forgiven Fees. The Company has never issued any note or other instrument evidencing any
of the Forgiven Fees. Mr. Coufal has never received, and does not hold, any note or other instrument evidencing any of the Forgiven
Fees. The Company has never been obligated to any other party besides Mr. Coufal for any of the Forgiven Fees. None of the Forgiven
Fees nor any instrument evidencing such obligations has ever been endorsed, pledged, sold, delivered, transferred, or assigned,
and Mr. Coufal does hereby agree that, in the event that such instruments do come into his possession, he will promptly surrender
such instrument to the Company for cancellation. The Company shall cancel the Forgiven Fees on its books and records immediately
following the effectiveness of this Agreement as set forth herein.

 

3.                     
Successors and Assigns. This Agreement shall be binding upon and inure to the benefit of the parties and their successors
and permitted assigns. The parties may not assign this Agreement or any rights or obligations hereunder without prior written consent
of the other party hereto.

 

4.                     
No Third-Party Beneficiaries. This Agreement is intended for the benefit of the parties hereto and their respective successors
and permitted assigns and is not for the benefit of, nor may any provision hereof be enforced by any other person.

 

5.                     
Governing Law. All questions concerning the construction, validity, enforcement and interpretation of this Agreement shall
be governed by and construed and enforced in accordance with the internal laws of the State of Massachusetts, without regard to
the principles of conflicts of law thereof.

 

6.                     
Entire Agreement. This Agreement constitutes the entire agreement between the parties with respect to the subject matter
hereof and supersedes any prior understanding or representation of any kind preceding the date of this Agreement. This Agreement
may only be amended or modified in a signed by both parties hereto.

 

 

 

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7.                     
Execution. This Agreement may be executed in two or more counterparts, all of which when taken together shall be considered
one and the same agreement and shall become effective when counterparts have been signed by each party and delivered to each other
party, it being understood that the parties need not sign the same counterpart. In the event that any signature is delivered by
facsimile transmission or by e-mail delivery of a “.pdf” format data file, such signature shall create a valid and
binding obligation of the party executing (or on whose behalf such signature is executed) with the same force and effect as if
such facsimile or “.pdf” signature page were an original thereof.

 

8.                     
Arm’s Length Transaction. The parties hereto have entered into this Agreement and the transactions contemplated hereby
on an arms-length basis.

 

IN WITNESS WHEREOF,
the parties hereto have caused this Debt Forgiveness Agreement to be duly executed by their respective authorized signatories as
of the date first indicated above.

 

	 	IIOT-OXYS, INC.
	 	 	 
	 	 	 
	 	By:	 	/s/ Clifford L. Emmons
	 	 	 	Name:	 	Clifford L. Emmons
	 	 	 	Title:	 	Chief Executive Officer
	 	 
	 	 
	 	By:	 	/s/ Antony Coufal
	 	 	 	Antony Coufal, an Individual

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    	 	2Exhibit 10.6

 

AMENDMENT
No. 1 TO CONSULTING AGREEMENT

 

 

This Amendment No.
1 to the Consulting Agreement (this “Amendment”), dated effective January 1, 2020 (the “Effective Date”),
is by and between IIOT-OXYS, Inc., a Nevada corporation (the “Client”), on the one hand, and Clifford L. Emmons,
an individual (the “Consultant”), on the other hand. The Client and the Consultant will be referred to individually
as a “Party” and collectively as the “Parties.” Any capitalized terms not defined in this
Amendment will have the meaning set forth in the Consulting Agreement dated February 27, 2019 between the Client and the Consultant
(the “Agreement”), attached hereto as Exhibit A.

 

RECITALS

 

WHEREAS, the
Client and Consultant have entered into the Consulting Agreement pursuant to which Consultant was engaged by the Client to perform
Services for Compensation;

 

WHEREAS, pursuant
to the Section 7(a) of the Agreement, the Consultant is entitled to receive a monthly fee of $15,000;

 

WHEREAS, Section
11 defines the Consultant as an “independent contractor;” and

 

WHEREAS, as
of the Effective Date, the Parties wish to amend Sections 7(a) and 7(b) of the Agreement to change the cash fees payable under
the Agreement, as provided herein, and to eliminate Section 11 so that the Consultant is no longer considered an “independent
contractor.”

 

THEREFORE, in
consideration of the foregoing recitals, mutual covenants contained herein, and other good and valuable consideration, the receipt
and sufficiency of which are hereby acknowledged, the Parties agree as set forth below.

 

AGREEMENT

 

1.                  
Amendments to Sections 7(a) and 7(b) of the Agreement. As of the Effective Date, Sections 7(a) and 7(b) of the
Agreement are hereby amended to read as follows:

 

Fees.
From January 1, 2020 until April 23, 2020, the Consultant shall be paid an hourly wage of $12.75 per hour for Services performed.
From April 24, 2020 onward, the Consultant shall be paid an hourly wage of $48.08 an hour for Services performed (the “Fees”).
Fees may accrue at the discretion of management.

 

Conversion
of Accrued and Unpaid Fees. At any time, the Consultant shall have the right to convert any accrued and unpaid Fees into shares
of Common Stock of the Company (the “Conversion Shares”). The conversion price shall equal 90% multiplied by
the Market Price (as defined herein) (representing a discount rate of 10%) (the “Conversion Price”). “Market
Price” means the average of the Trading Prices (as defined below) for the shares of Common Stock of the Company during the
thirty (30) day period ending on the latest complete trading day prior to the Conversion Date. “Trading Price” and
“Trading Prices” means, for any security as of any date, the closing trade price of the Company’s Common Stock
on the OTC Pink, OTCQB or applicable trading market as reported by a reliable reporting service (“Reporting Service”)
designated by the Consultant or, if the OTC Pink is not the principal trading market for such security, the trading price of such
security on the principal securities exchange or trading market where such security is listed or traded or, if no trading price
of such security is available in any of the foregoing manners, the average of the trading prices of any market makers for such
security that are listed in the “pink sheets” by the National Quotation Bureau, Inc. “Conversion Date”
shall mean the date of receipt by the Company of the completed and executed Notice of Conversion, the form of which is attached
hereto as Exhibit A.

 

 

 

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2.                  
Elimination of Section 11. As of the Effective Date, Sections 11 of the Agreement is hereby eliminated and the
remaining sections are renumbered.

 

3.                  
No Other Changes. Except as amended hereby, the Agreement will continue to be, and will remain, in full force
and effect. Except as provided herein, this Amendment will not be deemed (i) to be a waiver of, or consent to, or a modification
or amendment of, any other term or condition of the Agreement or (ii) to prejudice any right or rights which the Parties may now
have or may have in the future under or in connection with the Agreement or any of the instruments or agreements referred to therein,
as the same may be amended, restated, supplemented or otherwise modified from time to time.

 

4.                  
Authority; Binding on Successors. The Parties represent that they each have the authority to enter into this
Amendment. This Amendment will be binding on, and will inure to the benefit of, the Parties to it and their respective heirs, legal
representatives, successors, and assigns.

 

5.                  
Governing Law and Venue. This Amendment and the rights and duties of the Parties hereto will be construed and
determined in accordance with the terms of the Agreement.

 

6.                  
Incorporation by Reference. The terms of the Agreement, except as amended by this Amendment are incorporated
herein by reference and will form a part of this Amendment as if set forth herein in their entirety.

 

7.                  
Counterparts; Facsimile Execution. This Amendment may be executed in any number of counterparts and all such
counterparts taken together will be deemed to constitute one instrument. Delivery of an executed counterpart of this Amendment
by facsimile or email will be equally as effective as delivery of a manually executed counterpart of this Amendment.

 

IN WITNESS WHEREOF,
each of the undersigned has executed this Amendment the respective day and year set forth below:

 

	CLIENT:	IIOT-OXYS, Inc.
	 	 	 
	 	 	 
	Date:  June 12, 2020	By	/s/ Karen McNemar
	 	 	Karen McNemar, COO
	 	 	 
	 	 	 
	CONSULTANT:	 
	 	 	 
	 	 	 
	Date:  June 12, 2020	By	/s/ Clifford L. Emmons
	 	 	Clifford L. Emmons

 

 

 

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EXHIBIT A

 

Consulting Agreement dated February 27,
2019

 

[See Attached]

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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