Document:

Exhibit 10.4

 

Exhibit C to Joint Venture Agreement            

 

BOX HARMONY, LLC CONSULTING AGREEMENT

 

This Consulting Agreement (“Agreement”)
is made and entered into this13th day of January 2022 (the “Agreement Date”) and deemed effective as of January 1,
2021 (the “Effective Date”), by and among Box Harmony, LLC, a Nevada limited liability company (“BHL”);
Titanium Plus Autoparts, Inc.., a __________________ corporation (“TPA”); and Bin Xiao, an individual (“Xiao”).
TPA and Xiao are hereinafter collectively referred to in this Agreement as the” Consultant”. BHL and the Consultant are hereinafter
sometimes individually referred to as a “Party” and collectively, as the “Parties.”

 

	1	DEFINITIONS. Reference is made to the limited liability company operating agreement of BHL among
  the Parties and iPower Inc., a Nevada corporation (“IPW”), dated as of the Agreement Date (the “BHL Operating
  Agreement”), Unless otherwise defined in this Agreement, all capitalized terms, when used herein, shall have the same meaning
  as they are defined in the BHL Operating Agreement.

 

	2	SERVICES.

 

The Parties intend that the Consultant
will provide management consulting services to assist BHL in conducting the Company Business, including, without limitation, access to
the Consultant’s transportation resources, carrier accounts, receiving, storing and transporting products imported from clients
and customer for resale on-line from websites in the United States (the “Services”), Unless otherwise agreed in writing
by BHL, all Services on behalf of Consultant shall be provided by Xiao.

 

	3	COMPENSATION AND PAYMENTS.

 

During the Term of this Agreement, the Consultant shall be entitled
to the following compensation:

 

(a)           Fixed
Payments and Expenses, Commencing as of the Effective Date, the Consultant shall receive a monthly consulting fee from BHL of $5,000,
payable on the first business day of each month (the “Base Fee”); it being understood that the January 2022 Base Fee
shall be paid on the Agreement Date). In addition, it is agreed that BHL shall reimburse Consultant for all pre-approved travel and related
out of pocket expenses; such approval not to be unreasonably withheld or delayed. Consultant shall submit receipts evidencing such expenses
within 10 days of them being incurred, whereupon BHL shall reimburse Consultant via check within 30 days of receipt of invoices.

 

(b)           Bonus,
In the event and to the extent that BHL has Net Income and Distributable Cash Flow, after payment on all Tax Advances, at the end of
any Fiscal Year during the Term of this Agreement, prior to making any discretionary distributions of Distributable Cash Flow to the
Members, BHL shall pay to the Consultant an annual bonus payment equal to (i) up to 16% of such Net Income, less (ii) all Base
Fees paid to the Consultant during such Fiscal Year (the “Bonus”), Unless either Consultant elects to defer or waive
such Bonus, the Bonus shall be paid within 90 days after the end of the applicable Fiscal Year. In the event and at such time as IPW
exercises the IPW Option, as that term is defined in the BHL Operating Agreement, the above referenced annual Bonus shall terminate.
Following such termination, BHL and the Consultant shall undertake to make other bonus or related compensation arrangements and amend
this Agreement accordingly.

 

(c)            Allocation of Payments, It is agreed that two-thirds of the Base Fee and Bonus shall be allocated to Bin Xiao and one-third
of the Base Fee and Bonus shall be allocated to TPA.

 

	4	RELATIONSHIP OF THE PARTIES.

 

The Parties hereto acknowledge that the Consultant
is an independent contractor to BHL and is not authorized to bind BHL in connection with any agreement, obligation or other contract of
any kind, except as otherwise expressly provided in the BHL Operating Agreement.

 

 

 

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	5	TERM OF AGREEMENT AND TERMINATION.

 

(a)            Term
of Agreement, This Agreement shall commence as of the Effective Date and shall, unless renewed or extended as hereinafter provided,
shall expire on June 30, 2023. Unless either BHL or Consultant provide the other with notice of its intention to terminate this Agreement
at least sixty (60) days prior to June 30, 2023 or any extended period, this Agreement shall automatically renew and be extended for
one or more additional six (6) month consecutive periods. The period from the Effective Date to June 30, 2023, as the same may be extended
as hereinabove provided, is deemed to be the “Term” of this Agreement. Absent a breach or default of any of the provisions
of this Agreement by either Party, this Agreement may not be unilaterally cancelled by a Party during an active Term.

 

(b)            Termination,
The ongoing Services of the Consultant may be terminated by BHL prior to the expiration of the applicable Term immediately for “Cause”
as determined by BHL. As used herein, the term “Cause” shall mean and be limited to:

 

(i)             Breach by TPA or Xiao of either of the BHL Financial Covenants set forth in Section 6.04(a) of the BHL Operating Agreement;

 

(ii)           a material breach by TPA or Xiao of its or his covenants and agreements set forth herein which, if capable of cure, shall not be
cured to the reasonable satisfaction of BHL within 30 days of written notice by BHL of such breach;

 

(iii)          conviction of the TPA or Xiao of any felony or crime involving securities fraud or moral turpitude;

 

(iv)          breach by Consultant of the provisions of the BHL Operating Agreement or the other Transaction Documents referred to in Section
5(c) below; or

 

(v)             misappropriation of any corporate opportunity or asset available or belonging to BHL or the material breach of Consultant’s
duties of care and loyalty to BHL.

 

	5.	MISCELLANEOUS.

 

(a)           Content and work product specific to BHL and the Company Business will be “BHL Specific Content” and will remain proprietary
to and owned by BHL. All content and work product that is not specific to BHL or the Company Business is not considered proprietary to
BHL and can be used by either party at will.

 

(b)           The rights and obligations of the Parties under this Agreement shall inure to the benefit of and shall be binding upon the successors
and assigns of Parties. Consultant shall not be entitled to assign any of its rights or obligations under this Agreement to any third
party without the prior written consent of BHL.

 

(c)           Either
party’s failure to enforce any provision of this Agreement shall not in any way be construed as a waiver of any such provision
or prevent that party thereafter from enforcing each and every other provision of this Agreement.

 

(d)            In
the event any provision of this Agreement is found to be unenforceable by a court of competent jurisdiction, such provision shall be
deemed modified to the extent necessary to allow enforceability of the provision as so limited, it being intended that the parties shall
receive the benefit contemplated herein to the fullest extent permitted by law. If a deemed modification is not satisfactory in the judgment
of such court, the unenforceable provision shall be deemed deleted, and the validity and enforceability of the remaining provisions shall
not be affected thereby.

 

(e)            The
headings set forth in this Agreement are for convenience only and shall not be used in interpreting this Agreement. This Agreement
has been drafted by legal counsel representing BHL but each Consultant has participated in the negotiation of its terms.
Furthermore, Consultant acknowledges that Consultant has had an opportunity to review and revise this Agreement, the BHL Operating
Agreement and the other Transaction Documents and have them reviewed by legal counsel, if desired, and, therefore, the normal rule
of construction to the effect that any ambiguities in the Transaction Documents, including this Agreement, are to be resolved
against the drafting party shall not be employed in the interpretation of this Agreement.

 

 

 

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(f)            Any
matter in dispute which cannot be resolved by the parties shall be resolved by private arbitration. The rules and procedures for the
arbitration shall be determined by the arbitrator, patterned after the current Commercial Arbitration Rules of the American Arbitration
Association (excluding the complex/large case and expedited procedures rules), giving due regard to the desire of the parties to have
their dispute resolved as quickly and cost effectively as possible. Any award, order, or judgment made pursuant to arbitration shall
be deemed final and may be entered in state or federal court in Los Angeles, California (the “California Courts”),
The Parties agree to submit to the jurisdiction of said court for purposes of the enforcement of the award, order or judgment. The Parties
agree that the arbitration shall be held before a single arbitrator, who shall be selected by mutual agreement. In the event the parties
are unable to agree on the appointment of an arbitrator within seven (7) days of the request by any party that an arbitrator be appointed,
any party may petition the JAMS Dispute Resolution in Los Angeles, California for appointment of an arbitrator. The arbitrator shall
be compensated at an hourly rate which will be set by the arbitrator as soon as practicable after he is selected. The Parties shall submit
their claims and responses according to procedures established by the arbitrator. Each Party shall pay all of their own expenses and
shall split evenly the fees and expenses of the arbitrator. The Parties anticipate that all hearings and other proceedings will be conducted
without administrative charge at the offices of the arbitrator. Notwithstanding the foregoing, the substantially prevailing party in
the arbitration and any court proceedings to enforce the award (including all appeals) shall be entitled to an award of its actual costs
and fees, including its share of the arbitrator(s)’ fees and expenses and its reasonable attorney fees, in the arbitration and
in any award enforcement trial or appellate court proceedings.

 

(g)           This
Agreement will be governed by and construed in accordance with the laws of the United States in the State of California.

 

(h)           Any
notice required or permitted by this Agreement shall be in writing and shall be delivered as follows with notice deemed given as indicated:
(i) by personal delivery when delivered personally; (ii) by overnight courier upon written verification of receipt; (iii) by telecopy
or facsimile transmission upon acknowledgment of receipt of electronic transmission; or (iv) by certified or registered mail, return
receipt requested, upon verification of receipt. Notice shall be sent to the addresses set forth under the signatures below, or such
other address as either Party may specify in writing.

 

(i) This Agreement constitutes the entire agreement between the parties relating
to this subject matter and supersedes all prior or simultaneous representations, discussions, negotiations, and agreements, whether written
or oral. This Agreement may be amended or modified only with the written consent of the Consultant and BHL. No oral waiver, amendment
or modification will be effective under any circumstances whatsoever.

 

[signature page
follows]

 

 

 

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IN WITNESS WHEREOF, the Parties have duly executed
this Agreement, to be effective as of the Effective Date on this 13th day of January 2022.

 

 

BOX HARMONY, LLC

 

By: /s/ Chenlong Tan

       Chenlong Tan

       Executive Chairman

 

 

TITANIUM PLUS AUTOPARTS, INC.

 

By: /s/ Tony Chiu

       Tony Chiu, President

 

 

 

/s/ Bin Xia

BIN XIA 

 

Approved as to form and content:

 

iPOWER INC.

 

By: /s/ Chenlong Tan

       Chenlong Tan

       Chief Executive Officer

 

 

    	 	4Exhibit 10.5

 

Exhibit D to Joint Venture Agreement

 

LICENSE AGREEMENT

 

THIS LICENSE AGREEMENT (“Agreement”)
is made and entered into as of the 13th day of January 2022 by and among Titanium Plus Autoparts, Inc., a [California] corporation
(“TPA”) Bin Xiao, an individual (“Xiao”), Tony Chiu, an individual (“Chiu”)
and Box Harmony, LLC, a Delaware limited liability company (“Licensee”) and (together, the “Parties”).

 

1.     
BASIC TERMS

 

A.     
Effective Date: The date of execution of this Agreement by the Parties.

 

B.     
Joint Venture Agreement: means that joint venture agreement among the Parties and iPower Inc., a Nevada corporation
(“iPower”), with executive offices at 2399 Bateman Avenue, Duarte, CA 91010, dated January --, 2022.

 

C.     
Licensee: means Box Harmony, LLC, an affiliate of TPA and Xiao, with offices at 8798 9th Street, Building C, Rancho
Cucamonga, California 91730 (“Licensee”).

 

D.     
Licensee Business: means providing logistic services for primarily foreign based manufacturers or distributors who desire to
sell their products on-line in the United States, with such logistic services to include, without limitation, receiving, storing and transporting
such products in the United States.

 

E.     
Licensor: means individually and collectively, TPA, with offices at 4271 Don Julian Road, City of Industry, CA 91746, Xiao
and Chiu.

 

F.     
Licensed Rights Granted: has the meaning as that term is defined in Section 3 of this Agreement.

 

2.     
 Certain Definitions:

 

		(i)	“Licensor Intellectual Property Rights” means all Licensed Intellectual Property Rights
owned, licensed or otherwise held by Licensor including those identified below and listed on Appendix A.

 

		(ii)	“Licensor Technology” means know-how, methods, trade secrets and other Confidential
Information held by Licensor and protected by Licensor Intellectual Licensed Intellectual Property Rights, including supply chain management.

 

		(iii)	“Improvement” means any technological development, advancement or other innovation,
whether deliberately or unintentionally developed, created, conceived or otherwise innovated, that (a) is protectable Licensor Intellectual
Licensed Intellectual Property Rights, (b) is based on subject matter protected by Licensor Intellectual Licensed Intellectual Property
Rights, or (c) is otherwise connected or related to the Licensor Intellectual Licensed Intellectual Property Rights.

 

		(iv)	“Licensed Intellectual Property Rights” means all industrial and other intellectual
property rights owned, licensed or otherwise used by any Licensor comprising or relating to (a) Licensor Technology; (b) Improvements,
(c) internet domain names, permits and certificates registered by any authorized private registrar or Governmental Authority, web addresses,
web pages, website and URLs; (d) works of authorship, expressions, designs and industrial design registrations, whether or not copyrightable,
including copyrights and copyrightable works, software and firmware, data, data files, and databases and other specifications and documentation;
(e) inventions, discoveries, trade secrets, business and technical information, know-how, databases, data collections, patent disclosures
and other confidential or proprietary information; and (f) all industrial and other intellectual property rights, and all rights, interests
and protections that are associated with, equivalent or similar to, or required for the exercise of, any of the foregoing, however arising,
in each case whether registered or unregistered, and including all registrations and applications for, and renewals or extensions of,
such rights or forms of protection under the Applicable Law of any jurisdiction in any part of the world.

 

 

 

 

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		(v)	“Joint Improvement” means any Improvement that both Licensor and Licensee contributed
to developing, creating, conceiving or otherwise innovating.

 

		(vi)	“Person” is to be broadly interpreted and includes an individual, a corporation, a
partnership, a joint venture, a trust, an association, an unincorporated organization, a Governmental Authority, an executor or administrator
or other legal or personal representative, or any other juridical entity.

 

		(vii)	"Term" means the term and duration of the Joint Venture Agreement and the Limited Liability Agreement
and Facility and Access Agreement, constituting Exhibits to the Joint Venture Agreement, as each of such documents may be terminated,
amended or extended.

 

		(viii)	"Territory” means the United States of America, its territories and possessions.

 

3.     
Grant
of License. For good and valuable consideration each Licensor does hereby grant unto the Licensee, its successor and assigns, a non-exclusive
paid-up and royalty free right and license to make, use, sell, distribute or otherwise deal in (a) all Licensed Intellectual Property
Rights, and (b) all permits, certificates, governmental licenses and permits, domain names and other rights in connection with conducting
the Licensee Business, and (c) all Licensor Technology, in connection with the conduct of the Licensee Business within the Territory during
the Term of this Agreement. Licensee shall have no right to sublicense to any Person any Licensed Intellectual Property Rights under this
Agreement unless and until Licensor has consented in writing, with such consent not to be unreasonably withheld, to such Person and such
sublicense and such Person has executed a sublicense agreement in form and substance reasonably acceptable to the Parties. However, Licensee
shall have the right to sublicense the rights granted under this Agreement to one or more of its subsidiaries or other affiliates that
is engaged in the Licensee Business.

 

4.     
Representations
and Warranties, Limitations of Liability, Indemnity.

 

4.1     
Mutual
Representations, Warranties, and Covenants. Licensee and Licensor jointly and severally represent, warrant, and covenant to the other
that at all times during the Term:

 

(a)     
Each has the full right, power and authority to enter into and to perform this Agreement, including to grant the rights and licenses
granted under this Agreement;

 

(b)     
This Agreement constitutes a valid and legally binding obligation of the Licensee and Licensor, enforceable against the Licensee
and Licensor in accordance with its terms;

 

(c)     
Any use by Licensee of the Licensed Intellectual Property Rights as granted by Licensee under this Agreement will not violate,
misappropriate or otherwise infringe the Licensed Intellectual Property Rights or other rights of any Person;

 

(d)     
Each complies and will comply at all times with all applicable laws; and

 

(e)     
Each will to protect the Licensor’s Licensed Intellectual Property Rights from unauthorized use in the Territory.

 

4.2     
 Licensee’s Representations, Warranties, and
Covenants.Licensee represents, warrants, and covenants to Licensor that at all times during the Term:

 

(a)     
It has the full right, power and authority to enter into and to perform this Agreement;

 

 

 

 

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(b)     
It will provide, grant and sublicense each of the Licensed Rights to other Persons in conformity in all material respects with
all applicable laws, consistent with industry practices, and in such a manner that will reflect positively on the business reputation
of Licensor, on the Licensed Intellectual Property Rights and the associated goodwill;

 

(c)     
This Agreement constitutes a valid and legally binding obligation of the Licensee, enforceable against the Licensee in accordance
with its terms;

 

(d)     
It and all others authorized by it to act on its behalf under this Agreement will comply at all times with all applicable laws;

 

(e)     
It will not knowingly harm the Licensed Intellectual Property Rights or bring the Licensed Intellectual Property Rights into disrepute;
and

 

(f)     
neither Licensee nor any of its owners, directors, officers, members, partners, shareholders, affiliates or employees (each a “Licensee
Party”) is named, either directly or by an alias, pseudonym or nickname, on the lists of “Specially Designated Nationals”
or “Blocked Persons” maintained by the U S Treasury Department’s Office of Foreign Assets Control currently located
at www.treas gov/offices/enforcement/ofac/, (ii) it will not, and it will cause each Licensee Party not to, take any action that would
constitute a violation of any applicable laws against corrupt business practices, against money laundering and/or against facilitating
or supporting persons or entities who conspire to commit acts of terror against any person or entity, including as prohibited by the US
Patriot Act (currently located at www.epic.org/pnvacv/terrorism/hr3162.html.), US Executive Order 13244
(currently located at www.treasgov/offices/enforcement/ofac/sanctions/terrorism.html) or any similar laws, and (iii) it shall immediately
notify Licensee in writing of the occurrence of any event or the development of any circumstance that might render any of the foregoing
representations and warranties in this subsection (e) false, inaccurate or misleading;

 

4.3     
Licensor
Representations, Warranties, and Covenants. Each Licensor represents, warrants, and covenants to Licensee that at all times during
the Term:

 

(a)     
It or he has the full right, power and authority to enter into and to perform this Agreement;

 

(b)     
It or he is the sole owner of the Licensed Intellectual Property Rights and has the sole right to license the Licensed Rights to
the Licensee;

 

(c)     
no other Person (other than Licensee) has any right, license or claim to such Licensed Intellectual Property Rights;

 

(d)     
This Agreement constitutes a valid and legally binding obligation of Licensor, enforceable against the it in accordance with its
terms;

 

(e)     
Licensor and all others authorized by it to act on its behalf under this Agreement will comply at all times with all applicable
laws;

 

(f)     
Neither Licensor nor any of its owners, directors, officers, members, partners, shareholders, affiliates or employees (each a “Licensor
Party”) is named, either directly or by an alias, pseudonym or nickname, on the lists of “Specially Designated Nationals”
or “Blocked Persons” maintained by the U S Treasury Department’s Office of Foreign Assets Control currently located
at www.treas gov/offices/enforcement/ofac/, (ii) it will not, and it will cause each Licensor Party not to, take any action that would
constitute a violation of any applicable laws against corrupt business practices, against money laundering and/or against facilitating
or supporting persons or entities who conspire to commit acts of terror against any person or entity, including as prohibited by the US
Patriot Act (currently located at www.epic.org/pnvacv/terrorism/hr3162.htmll.), US Executive Order 13244
(currently located at www.treasgov/offices/enforcement/ofac/sanctions/terrorism.html) or any similar laws, and (iii) it shall immediately
notify Licensee in writing of the occurrence of any event or the development of any circumstance that might render any of the foregoing
representations and warranties in this subsection (e) false, inaccurate or misleading;

 

 

 

 

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4.4      Limitation of Liability.
Except for breaches the Confidentiality provision of this Agreement or a claim arising out of a Party’s gross negligence, willful
misconduct, or fraud, the Licensee shall not be liable to Licensor, and Licensor shall not be liable to the Licensee, for any indirect,
incidental, consequential, special, punitive, or exemplary losses or damage whatsoever, whether in contract, tort (including negligence),
at law or in equity, even if such losses were reasonably foreseeable or a Party had been advised of the possibility of the other Party
or Parties incurring the same. This section shall survive termination of this Agreement.

 

4.5      Defense and Indemnity.
Each of the Parties shall defend, indemnify and hold each other and their officers, directors, stockholders, employees, agents, attorneys,
representatives, affiliates, successors and assigns (collectively, an “Indemnified Party”) harmless from and against
any and all civil or criminal demands, claims, actions, causes of action, liabilities, suits, proceedings, judgments, investigations
or inquiries (each such third-Party action, claim or proceeding, a “Claim”), and any settlement thereof, and all related
expenses, including, but not limited to, all litigation expenses, including reasonable attorneys’ fees and court costs, and settlement
amounts (collectively, “Losses”), that directly or indirectly arise out of an Indemnified Party’s activities
under this Agreement including but not limited to Claims (A) resulting from a material breach of the other Party’s (or, where the
Indemnified Party is the Licensee, the other Parties’) representations, warranties, covenants or agreements contained herein; or
(B) the gross negligence, willful misconduct, or fraud of the other Party (or, where the Indemnified Party is the Licensee, the other
Parties). This section shall survive termination of this Agreement.

 

4.6      Indemnification
Procedures. Except as otherwise provided in this Agreement, a Party entitled to indemnification hereunder (each, an “Indemnitee”)
from (or, where the Indemnified Party is the Licensee, the other Parties) (in such capacity, the “Indemnitor”) pursuant
to Section 4.5 with respect to a Claim shall (a) give written notice within a reasonable time to the Indemnitor of any such Claim with
respect to which the Indemnitee seeks indemnification (provided, however, that failure of the Indemnitee to give such notice shall not
relieve the Indemnitor from any liability which the Indemnitor may have on account of this indemnification, except to the extent that
the Indemnitor is materially prejudiced thereby), and (b) permit the Indemnitor to assume the defense of such Claim with counsel reasonably
satisfactory to the Indemnitee; provided, however, that any Indemnitee shall have the right to employ separate counsel and to participate
in the defense of such Claim, but the fees and expenses of such counsel shall be at the expense of the Indemnitee unless (i) the Indemnitor
has agreed to pay such fees or expenses, (ii) the Indemnitor shall have failed to assume the defense of such Claim and employ counsel
reasonably satisfactory to the Indemnitee or (iii) in the reasonable judgment of the Indemnitee, based upon written advice of its counsel,
a conflict of interest may exist between the Indemnitee and the Indemnitor with respect to such Claim which would prevent counsel from
adequately representing the interests of both the Indemnitee and the Indemnitor (in which case, if the Indemnitee notifies the Indemnitor
in writing that the Indemnitee elects to employ separate counsel at the expense of the Indemnitor, the Indemnitor shall not have the
right to assume the defense of such Claim on behalf of the Indemnitee and the reasonable fees and expenses of counsel for the Indemnitee
shall be paid by the Indemnitor). The Indemnitor shall not, except with the prior written consent of the Indemnitee, consent or enter
into to any settlement of any such Claim which involves the admission of liability on the part of the Indemnitee. The Indemnitee shall
reasonably cooperate with the Indemnitor in the defense of any such Claim.

 

5.     
Miscellaneous.

 

(a)       Notices.
All notices, requests, consents, claims, demands, waivers, and other communications hereunder shall be in writing and shall be deemed
to have been given (a) when delivered by hand (with written confirmation of receipt), (b) when received by the addressee if sent by a
nationally recognized overnight courier (receipt requested), (c) on the date sent by facsimile or email of a PDF document (with confirmation
of transmission) if sent during normal business hours of the recipient, and on the next Business Day if sent after normal business hours
of the recipient, or (d) on the third Business Day after the date mailed, by certified or registered mail, return receipt requested, postage
prepaid. Such communications must be sent to the respective parties at the following addresses (or at such other address for a party as
shall be specified in a notice given in accordance with this Section 5(a)):

 

	
    If to the Licensee:
	
    Bin Xiao, President

    Box Harmony, LLC

    8798 9th Street, Building C

    Rancho Cucamonga, CA

 

 

 

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    If to Licensor:
	
    Titanium Plus Autoparts, Inc.

4271 Don Julian Road

    City of Industry, CA 91746

    Attn: Tony Chiu

 

(b)     
Headings. The headings in this Agreement are inserted for convenience or reference only and are in no way intended to describe,
interpret, define, or limit the scope, extent, or intent of this Agreement or any provision of this Agreement.

 

(c)     
Severability. If any term or provision of this Agreement is held to be invalid, illegal, or unenforceable under Applicable Law
in any jurisdiction, such invalidity, illegality, or unenforceability shall not affect any other term or provision of this Agreement
or invalidate or render unenforceable such term or provision in any other jurisdiction. On such determination that any term or other
provision is invalid, illegal, or unenforceable, the parties hereto shall negotiate in good faith to modify this Agreement so as to effect
the original intent of the parties as closely as possible in a mutually acceptable manner in order that the transactions contemplated
hereby be consummated as originally contemplated to the greatest extent possible.

 

(d)     
Entire Agreement. This Agreement and all related Schedules, constitutes the sole and entire agreement of the parties to this Agreement
with respect to the subject matter contained herein and therein, and supersedes all prior and contemporaneous understandings, agreements,
records, representations, and warranties, both written and oral, whether express or implied, with respect to such subject matter.

 

(e)     
Successors and Assigns. This Agreement shall be binding upon and shall inure to the benefit of the parties hereto and
their respective heirs, executors, administrators, successors, and permitted assigns. This Agreement may not be assigned by any party
except as permitted by this Agreement and any assignment in violation of this Agreement shall be null and void.

 

(f)     
Duty of Confidentiality. Except as specifically provided in this Agreement, each Party agrees to keep strictly confidential
all Confidential Information (as defined below) and will not, without the express written authorization of the other Parties, disclose,
copy, publish, distribute, transfer, market, use, misuse, alter or destroy any Confidential Information to any third person, firm, company,
corporation or association for any purpose. Each Party will maintain adequate internal safeguards to protect the Confidential Information
of the other Parties, and each Party warrants and covenants to the other Parties that any consultant of such Party who gains access to
Confidential Information of the other Parties shall have executed a form of agreement pursuant to which he, she or it is bound by the
non-use and non-disclosure obligations of this Paragraph. Each Party is responsible for a breach of this Paragraph by any of its officers,
directors, partners, employees, contractors, affiliated companies, subsidiaries, agents and consultants. Each Party further acknowledges
and agrees that, if there is any question as to whether or not information obtained by such Party from one of the other Parties constitutes
Confidential Information, such Party will confer with the applicable other Party regarding the status of the information prior to any
disclosure and such Party will not disclose such information without the express written authorization of the applicable other Party.
No Party will make use of the Confidential Information except to meet its obligations or exercise its rights under this Agreement. No
Party will permit access to the Confidential Information of the other Parties to any person, company, agency, or other entity that is
not authorized in writing by the applicable other Party to have access, observe, review, or receive the Confidential Information. The
obligations imposed under this Paragraph shall survive the termination of this Agreement. For purposes of this Agreement, “Confidential
Information” shall include (i) the terms of this Agreement, and (ii) any and all confidential and/or proprietary knowledge,
data, methodology or information constituting, arising in connection with or relating to a Party that is made available by such Party
to the other Party (or Parties, as the case may be) either prior to or after the Effective Date. Except for personally identifiable information,
which shall always remain Confidential Information, Confidential Information does not include: (i) information that has become generally
known or available to the public through publication or otherwise through no violation of this paragraph; (ii) information independently
developed by a Party without use of Confidential Information of the other Party (or Parties, as the case may be); (iii) information that
a Party can demonstrate by written records was known or in the possession of such Party prior to disclosure by the other Party (or Parties,
as the case may be); or (iv) information that a Party is required to disclose by court order provided that such Party uses all commercially
reasonable efforts to limit such disclosure and to obtain confidential treatment.

 

(g)     
Assignability. No Party may assign any of its rights under this Agreement without the prior written approval of the
other Parties. Any attempted assignment in violation of this provision will be void.

 

 

 

 

    	 	5	 

     

    

 

(h)     
General. This Agreement contains a complete statement of all arrangements between the Parties with respect to its subject
matter. This Agreement may not be changed or terminated orally and will benefit and be binding upon the Parties' respective permitted
successors and assigns, if any. Each Party represents, warrants, and covenants that it is under no legal impediment preventing it from
entering into and fully performing this Agreement. The failure of a Party to insist upon strict adherence to any term of this Agreement
on any occasion will not be construed as a waiver or limit that Party's right thereafter to insist upon strict adherence to that term
or any other term of this Agreement. All waivers must be in writing. If any provision of this Agreement is invalid or unenforceable as
applied to any circumstance, the balance of this Agreement, including that provision as applied to other circumstances, will remain in
effect. The Licensee will not be considered as, or hold itself out to be, an agent, partner or joint venturer of Licensor. The Licensee
may not bind the Licensor in any dealings with a Person, and neither the Licensee nor Licensor may bind the other in any dealings with
a Person, unless they become a party to any sublicense or license agreement. The headings on this Agreement are solely for convenience
of reference and will not affect its interpretation. This Agreement will be governed by and construed in accordance with laws of the
state of California applicable to agreements made and to be performed in that state. Each Party consents and agrees that state courts
for California will have jurisdiction over it with respect to any dispute or controversy relating to this Agreement, and that process
may be served on it in accordance with this Paragraph. Each Party will be responsible for and bear all of its own costs and expenses
(including attorneys’ fees) incurred at any time in connection with pursuing, negotiating or completing this Agreement.

 

(i)     
Amendment. No provision of this Agreement may be amended or modified except by an instrument in writing executed by
the Parties and approved by IPW. Any such written amendment or modification will be binding upon the Parties.

 

(j)     
Waiver. No waiver by any party of any of the provisions hereof shall be effective unless explicitly set forth in writing
and signed by the party so waiving. No waiver by any party shall operate or be construed as a waiver in respect of any failure, breach,
or default not expressly identified by such written waiver, whether of a similar or different character, and whether occurring before
or after that waiver. No failure to exercise, or delay in exercising, any right, remedy, power, or privilege arising from this Agreement
shall operate or be construed as a waiver thereof, nor shall any single or partial exercise of any right, remedy, power, or privilege
hereunder preclude any other or further exercise thereof or the exercise of any other right, remedy, power, or privilege.

 

(k)     
Governing Law. All issues and questions concerning the application, construction, validity, interpretation, and enforcement
of this Agreement shall be governed by and construed in accordance with the internal laws of the State of California, without giving
effect to any choice or conflict of law provision or rule (whether of the State of California or any other jurisdiction) that would cause
the application of laws of any jurisdiction other than those of the State of California.

 

(l)     
Submission to Jurisdiction. The parties hereby agree that any suit, action, or proceeding seeking to enforce any provision of,
or based on any matter arising out of or in connection with, this Agreement or the transactions contemplated hereby, whether in contract,
tort, or otherwise, shall be brought in the United States District Court for the Southern District of California or, if such court does
not have subject matter jurisdiction, the courts of the State of California sitting in Los Angeles County, and any appellate court from
any thereof, and that any cause of action arising out of this Agreement shall be deemed to have arisen from a transaction of business
in the State of California. Each of the parties hereby irrevocably consents to the jurisdiction of such courts in any such suit, action,
or proceeding and irrevocably waives, to the fullest extent permitted by law, any objection that it may now or hereafter have to the
laying of the venue of any such suit, action, or proceeding in any such court or that any such suit, action, or proceeding that is brought
in any such court has been brought in an inconvenient form. Service of process, summons, notice, or other document by registered mail
to the address set forth herein shall be effective service of process for any suit, action, or other proceeding brought in any such court.

 

(m)     
Equitable Remedies. Each party hereto acknowledges that a breach or threatened breach by such party of any of its obligations
under this Agreement would give rise to irreparable harm to the other parties, for which monetary damages would not be an adequate remedy,
and hereby agrees that in the event of a breach or a threatened breach by such party of any such obligations, each of the other parties
hereto shall, in addition to any and all other rights and remedies that may be available to them in respect of such breach, be entitled
to equitable relief, including a temporary restraining order, an injunction, specific performance, and any other relief that may be available
from a court of competent jurisdiction (without any requirement to post bond).

 

 

 

 

    	 	6	 

     

    

 

(n)     
Attorneys' Fees. If any party hereto institutes any legal suit, action, or proceeding, including arbitration, against
another party in respect of a matter arising out of or relating to this Agreement, the prevailing party in the suit, action, or proceeding
shall be entitled to receive, in addition to all other damages to which it may be entitled, the costs incurred by such party in conducting
the suit, action, or proceeding, including reasonable attorneys' fees and expenses and court costs.

 

(o)     
Remedies Cumulative. The rights and remedies under this Agreement are cumulative and are in addition to and not in
substitution for any other rights and remedies available at law or in equity or otherwise, except to the extent expressly provided herein
to the contrary.

 

(p)     
Counterparts. This Agreement may be executed in counterparts, each of which shall be deemed an original, but all of
which together shall be deemed to be one and the same agreement. A signed copy of this Agreement delivered by facsimile, email, or other
means of Electronic Transmission shall be deemed to have the same legal effect as delivery of an original signed copy of this Agreement.

 

[Signature Page Follows]

 

 

 

 

 

 

 

 

 

 

 

 

    	 	7	 

     

    

 

IN
WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the date first written above by their respective
officers thereunto duly authorized.

 

 

 

 

 

 

 

    	 	8	 

     

    

 

Appendix A

Additional Licensed Intellectual Property Rights

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    	 	9

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