Document:

Exhibit 10.01

STOCK EXCHANGE AGREEMENT

 

This STOCK EXCHANGE AGREEMENT (this "Agreement") is dated as of
May 02, 2014, by and among MedTest, Inc. a (aka, CB SCIENTIFIC) Nevada corporation ("MT"), Charles Wayne Steinberg, Derek
Allen Lebahn (each, a "Stockholder," collectively, the "Stockholders"), HempTech Corp., a wholly-owned subsidiary
of FutureWorld Energy, a Delaware Corporation ("FutureWorld").

 

WHEREAS, MT, the Stockholders and FutureWorld have determined that it is in
their best interest for the Stockholders to transfer all of the 1,000 issued and outstanding shares of common stock of MedTest,
Inc. (the "MT Stock") to FutureWorld in exchange for common stock of FutureWorld on the terms and conditions described
herein;

 

NOW, THEREFORE, in consideration of the mutual covenants herein and other
good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:

 

1. Exchange
of Stock.

 

1.1.
Exchange of Stock. Subject to the terms and conditions hereof, on
the Closing Date, as hereinafter defined, the Stockholders shall transfer all of the issued and outstanding shares of MedTest,
Inc. Stock (the “MT Stock”) to FutureWorld and FutureWorld shall transfer to the Stockholders 5,000,000 newly issued
restricted shares of common Stock of FutureWorld (the “FutureWorld Stock”) in exchange for MT Stock in the following
manner:

 

		a)	1,500,000 shares at the closing of this agreement;

		b)	3,500,000 shares at the successful product pilot and proof of effectiveness.

 

MT stockholder will also receive the following earn-out on post product launch:

 

		a)	$3 for each test pack sold (retail with payments received) paid to the shareholders
(with the assumption of sale price of $60>). If wholesale or if less than $30 per test pack, earn-out will drop to $1.5 per
test pack but no more or less than 5% of total value. 

 

The number of shares of MT Stock owned by, and to be delivered to FutureWorld
by, each Stockholder in the number of shares of FutureWorld Stock to be received by each Stockholder shall be as specified in Schedule
A, which is attached hereto and incorporated herein by reference. Each of the Stockholders shall execute and deliver to FutureWorld
a Lockup Agreement in the form which is attached hereto as Exhibit B.

 

1.2.
Closing. The closing of the transactions referred to in Section 1
hereof (the "Closing") shall take place at 10 o’clock a.m. PDT on May02, 2014, at the offices of MT or at such
other time and/or place as the parties may agree upon. Such date is herein referred to as the "Closing Date."

 

2. Representations of the Stockholders.

 

2.1.
MT Stock. Each Stockholder represents and warrants that all of MT
Stock has been duly authorized and issued to the Stockholders, that no other MT Stock is issued or outstanding, that no other equity
securities of MT are outstanding, and that there are no outstanding options, warrants, or other contractual rights pursuant to
which any person has the right to purchase any shares of MT stock or other MT securities. Each Stockholder represents and warrants
that the shares of MT Stock shown as owned by such person on Schedule A are owned by such Stockholder

    	 

    	 

    

free and clear of all liens and/or encumbrances, and that such Stockholder
has the authority and power to transfer good title to such MT Stock in accordance with this Agreement free and clear of all liens
and/or encumbrances.

 

2.2.
Corporate Status. MT is duly organized, validly existing and in good
standing under the laws of the State of Nevada and is licensed or qualified as a foreign corporation in all states in which the
nature of its businesses or the character or ownership of its properties makes such licensing or qualification necessary.

 

2.3.
Authorization and Validity of Agreement. MT and the Stockholders
have full power and authority (to execute and deliver this Agreement, to perform its obligations hereunder and to consummate the
transactions contemplated hereby. This Agreement has been duly executed and delivered by MT and, assuming the due execution of
this Agreement by FutureWorld, is a valid and binding obligation of MT, enforceable against MT in accordance with its terms, except
to the extent that its enforceability may be subject to applicable bankruptcy, insolvency, reorganization and similar laws affecting
the enforcement of creditors' rights generally and to general equitable principles.

 

2.4.
Consents and Approvals; No Violations. The execution and delivery
of this Agreement by MT and the Stockholders and the consummation by MT and the Stockholders of the transactions contemplated herein
and the other transactions contemplated hereby (a) will not violate the provisions of the Articles of Incorporation or Bylaws of
MT, (b) will not violate any statute, rule, regulation, order or decree of any public body or authority by which MT is bound or
by which any of its properties or assets are bound, (c) will not require any filing with, or permit, consent or approval of, or
the giving of any notice to, any United States governmental or regulatory body, agency or authority on or prior to the Closing
Date, and (d) will not result in a violation or breach of, conflict with, constitute (with or without due notice or lapse of time
or both) a default (or give rise to any right of termination, cancellation, payment or acceleration) under, or result in the creation
of any encumbrance upon any of the properties or assets of MT under, any of the terms, conditions or provisions of any note, bond,
mortgage, indenture, license, franchise, permit, agreement, lease, franchise agreement or any other instrument or obligation to
which MT is a party, or by which they or any of its properties or assets may be bound.

 

2.5.
Financial Statements. The financial statements of MT furnished to
FutureWorld, consisting of

__________________________ ____________, (the “Financial Statements”)
are correct and fairly present the financial condition of MT as of these dates and for the periods stated therein; such statements
were prepared in accordance with generally accepted accounting principles consistently applied, and no material change has occurred
in the matters disclosed therein. These Financial Statements do not contain any untrue statement of a material fact or omit to
state a material fact necessary in order to make the statements made, in light of the circumstances under which they were made,
not misleading.

 

2.6.
Undisclosed Liabilities. MT has no material liabilities of any nature
except to the extent reflected or reserved against in its balance sheets included in the Financial Statements, whether accrued,
absolute, contingent or otherwise, including, without limitation, tax liabilities and interest due or to become due.

 

2.7.
Interim Changes. Except as set forth in Schedule 2.7, since the dates
of its balance sheet, there have been no (i) changes in the financial condition, assets, liabilities or business of MT, which in
the aggregate, have been materially adverse; (ii) damages, destruction or loss of or to the property of MT, payment of any dividend
or other distribution in respect of the capital stock of MT or any direct or indirect redemption, purchase or other acquisition
of any such stock; or (iii) increases paid or agreed to in the compensation, retirement benefits or other commitments to their
employees.

 

2.8.
Title to Property. MT has good and marketable title to all properties
and assets, real and personal, proprietary or otherwise, reflected in its balance sheets, and the properties and assets of MT are
subject to no mortgage, pledge, lien or encumbrance, except as reflected in the financial statements of MT, with respect to which
no default exists.

 

    	 

    	 

    

2.9.
Litigation. There is no litigation or proceeding pending, or to the
knowledge of MT or the

Stockholders, threatened, against or relating to MT or its properties or business,
except litigation which is not expected to have any material adverse effect on MT. Further, no officer, director or person who
may be deemed to be an affiliate of MT is party to any material legal proceeding which could have an adverse effect on MT (financial
or otherwise), and none is party to any action or proceeding wherein any has an interest adverse to MT.

 

2.10.
Books and Records. From the date of this Agreement to the Closing,
Stockholders will cause MT to (i) give to FutureWorld and its representatives full access during normal business hours to all of
MT offices, books, records, contracts and other corporate documents and properties so that FutureWorld may inspect and audit them;
and (ii) furnish such information concerning the properties and affairs of MT as FutureWorld may reasonably request.

 

2.11.
Tax Returns. MT has filed all federal and state income or franchise
tax returns that have been required to be filed by it or has received currently effective extensions of the required filing dates.

 

2.12.
Confidentiality. Until the Closing (and continuously if there is
no Closing), MT, Stockholders and their representatives will keep confidential any information which they obtain from FutureWorld
concerning its properties, assets and business. If the transactions contemplated by this Agreement are not consummated by May 09,
2014, MT and Stockholders will return to FutureWorld all written matter with respect to FutureWorld obtained by them in connection
with the negotiation or consummation of this Agreement.

 

2.13.
Environmental Matters. MT and Stockholders have no knowledge of any
assertion by any governmental agency or other regulatory authority of any environmental lien, action or proceeding, or of any cause
for any such lien, action or proceeding related to the business operations of MT or its predecessors. "Hazardous Materials"
means any oil or petrochemical products, PCB's, asbestos, urea formaldehyde, flammable explosives, radioactive materials, solid
or hazardous wastes, chemicals, toxic substances or related materials, including, without limitation, any substances defined as
or included in the definition of "hazardous substances," "hazardous wastes," "hazardous materials"
or "toxic substances" under any applicable federal or state laws or regulations. "Hazardous Materials Regulations"
means any regulations governing the use, generation, handling, storage, treatment, disposal or release of hazardous materials,
including, without limitation, the Comprehensive Environmental Response, Compensation and Liability Act, the Resource Conservation
and Recovery Act and the Federal Water Pollution Control Act.

 

2.14.
Access to Information Regarding FutureWorld. MT and Stockholders
acknowledge that FutureWorld has delivered to them copies of what has been represented to be documentation containing all material
information respecting FutureWorld and its present and contemplated business operations, potential acquisitions, management and
other factors, by personal delivery to them; that they have had a reasonable opportunity to review such documentation and to discuss
it, to the extent desired, with their legal counsel, directors and executive officers; that they have had, to the extent desired,
the opportunity to ask questions of and receive responses from the management of FutureWorld with respect to such documentation;
and that to the extent requested, all questions raised have been answered to their complete satisfaction.

 

3. Representations
and Warranties of FutureWorld. FutureWorld hereby represents and warrants
to Stockholders that:

 

3.1. FutureWorld
Common Stock. All of the common stock of FutureWorld have been duly authorized,
validly issued, fully paid and are non-assessable. Upon issuance, FutureWorld Stock shall be duly authorized, validly issued, fully
paid and non-assessable.

 

3.2. Authorization
and Validity of Agreement. FutureWorld has full power and authority (corporate
or otherwise) to execute and deliver this Agreement, to perform its obligations hereunder and to consummate the transactions

    	 

    	 

    

contemplated hereby. This Agreement has been duly executed and delivered by
FutureWorld and, assuming the due execution of this Agreement by each of Stockholders, is a valid and binding obligation of FutureWorld,
enforceable against FutureWorld in accordance with its terms, except to the extent that its enforceability may be subject to applicable
bankruptcy, insolvency, reorganization and similar laws affecting the enforcement of creditors' rights generally and to general
equitable principles.

 

3.3.
Consents and Approvals; No Violations. The execution and delivery
of this Agreement by FutureWorld and the consummation by FutureWorld of the exchange of stock contemplated herein and the other
transactions contemplated hereby (a) will not violate the provisions of the Articles of Incorporation or Bylaws of FutureWorld,
(b) will not violate any statute, rule, regulation, order or decree of any public body or authority by which FutureWorld is bound
or by which any of its properties or assets are bound, (c) will not require any filing with, or permit, consent or approval of,
or the giving of any notice to, any United States governmental or regulatory body, agency or authority on or prior to the Closing
Date (as defined in Section 1.3), and (d) will not result in a violation or breach of, conflict with, constitute (with or without
due notice or lapse of time or both) a default (or give rise to any right of termination, cancellation, payment or acceleration)
under, or result in the creation of any encumbrance upon any of the properties or assets of FutureWorld under, any of the terms,
conditions or provisions of any note, bond, mortgage, indenture, license, franchise, permit, agreement, lease, franchise agreement
or any other instrument or obligation to which FutureWorld is a party, or by which they or any of its properties or assets may
be bound.

 

3.4.
Organization and Good Standing. FutureWorld is a corporation duly
organized, validly existing and in good standing under the laws of Delaware and is qualified to do business as a foreign corporation
in each jurisdiction where the failure to be so qualified would have a material adverse effect on FutureWorld.

 

3.5.
Capitalization. FutureWorld's authorized capital stock consists of
1,000,000,000 shares of common stock, $.0001 par value per share, 446,000,000 of which are issued and outstanding and 50,000,000
shares of preferred stock, 30,000,000 of which are issued and outstanding as Series A Preferred Stock. All of the issued and outstanding
shares of FutureWorld common stock and preferred stock were duly authorized for issuance and are validly issued, fully paid and
non-assessable. There are no options, warrants, convertible securities, any rights of first refusal, any preemptive rights or any
other right to acquire equity securities of FutureWorld outstanding.

 

3.6.
Subsidiaries. FutureWorld does, directly or indirectly, own shares
of capital stock or other equity interest in, has made an investment in, and does control or have proprietary interest in, corporation,
partnership, joint venture or other business association or entity.

 

3.7.
Securities Law Compliance. FutureWorld has filed all reports required
to be filed by it under the Securities Act of 1933, as amended (the "Securities Act") and the Securities Exchange Act
of 1934, as amended (the "Exchange Act"), including pursuant to Section 13(a) or 15(d) thereof, for the three years preceding
the date hereof (or such shorter period as FutureWorld was required by law to file such material) (the foregoing materials, including
the exhibits thereto, being collectively referred to herein as the "SEC Documents "). The SEC Documents constitute all
of the documents and reports that FutureWorld was required to file with the Securities and Exchange Commission (“SEC”)
pursuant to the Exchange Act and the rules and regulations promulgated thereunder by the SEC. As of their respective dates, the
SEC Documents complied in all material respects with the requirements of the Exchange Act and the rules and regulations promulgated
thereunder and none of the SEC Documents contained an untrue statement of a material fact or omitted to state a material fact required
to be stated therein or necessary to make the statements therein, in light of the circumstances under which they were made, not
misleading. The financial statements of FutureWorld included in the SEC Documents comply as to form in all material respects with
applicable accounting requirements and the published rules and regulations of the SEC with respect thereto, have been prepared
in accordance with generally accepted accounting principles in the United States ("U.S. GAAP") (except, in the case of
unaudited statements, as permitted by the applicable form under the Exchange Act) applied on a consistent basis during the periods
involved

    	 

    	 

    

(except as may be indicated in the notes thereto) and fairly present the financial
position of FutureWorld as of the dates thereof and its statements of operations, Stockholders' equity and cash flows for the periods
then ended (subject, in the case of unaudited statements, to normal and recurring year-end audit adjustments which were and are
not expected to have a material adverse effect on FutureWorld, its business, financial condition or results of operations). Except
as and to the extent set forth in the financial statements, FutureWorld has no liability or obligation of any nature (whether accrued,
absolute, contingent or otherwise and whether required to be reflected on a balance sheet or not).

 

3.8. Financial Statements.

 

3.8.1. SEC Documents can be found on SEC.GOV, which may include financials
and announcements. FutureWorld's Audited Financial Statements are (i) in accordance with the books and records of FutureWorld,
(ii) correct and complete, (iii) fairly present the financial position and results of operations of FutureWorld as of the dates
indicated, and (iv) prepared in accordance with U.S. GAAP (except that (x) unaudited financial statements may not be in accordance
with U.S. GAAP because of the absence of footnotes normally contained therein, and (y) interim (unaudited) financials are subject
to normal year-end audit adjustments that in the aggregate will not have a material adverse effect on FutureWorld, its business,
financial condition or results of operations).

 

3.8.2. Events Subsequent to Financial Statements. Except as reflected in the
Annual Report on Form 10-K for the annual period ended March 31, 2013, since March 31, 2012:

 

3.8.2.1. FutureWorld has not entered into any transaction or contract or conducted
any business other than seeking a business combination or other strategic transaction;

 

3.8.2.2. FutureWorld has not failed to pay and discharge its current liabilities
in the ordinary course of business consistent with past practice;

 

3.8.2.3. FutureWorld has not incurred any indebtedness or liability or assumed
any obligations other than in the ordinary course of business;

 

3.8.2.4. FutureWorld has not waived or released any right of any material
value;

 

3.8.2.5. FutureWorld has not paid any compensation or benefits to officers
or directors of FutureWorld other than in the ordinary course of business;

 

3.8.2.6. FutureWorld has not made or authorized any amendment in the Certificate
of Incorporation or Bylaws of FutureWorld;

 

3.8.2.7. there has been no material adverse change in the condition (financial
or otherwise) of the properties, assets, liabilities or business of FutureWorld.

 

3.9.
Public Trading of FutureWorld. FutureWorld has never been listed
on any national stock exchange or national market system in the United States or elsewhere, and its common stock is currently quoted
in the OTCQB. FutureWorld is, and has no reason to believe that it will not in the foreseeable future continue to be, in compliance
with all listing and maintenance requirements.

 

3.10.
Litigation. There is no suit, action, proceeding, investigation,
claim or order pending or, to the knowledge of FutureWorld, threatened against FutureWorld (or to the knowledge of FutureWorld,
pending or threatened, against any of the officers or directors of FutureWorld with respect to their business activities on behalf
of FutureWorld), or to which FutureWorld is otherwise a party, before any court, or before any governmental department, commission,
board,

    	 

    	 

    

agency, or instrumentality; nor to the knowledge of FutureWorld is there any
reasonable basis for any such action, proceeding or investigation.

 

3.11.
Governmental Consents. All consents, approvals, orders, authorizations
or registrations, qualifications, designations, declarations or filings with any U.S. federal or state governmental authority on
the part of FutureWorld required in connection with the consummation of the transactions contemplated herein shall have been obtained
prior to and be effective as of the Closing.

 

3.12.
Third Party Consents. All third party consents, approvals, orders
or authorizations required to be obtained by FutureWorld in connection with the consummation of the transactions contemplated herein
have been obtained.

 

3.13.
Disclosure. The representations and warranties and statements of
fact made by FutureWorld in this Agreement are accurate, correct and complete in all material respects and do not contain any untrue
statement of a material fact or omit to state any material fact necessary in order to make the statements and information contained
herein not false or misleading.

 

3.15.
Investment Representations. FutureWorld hereby represents to each
Stockholder that:

 

3.15.1. FutureWorld has such knowledge and experience in financial and business
matters so as to be capable of evaluating and understanding, and has evaluated and understood, the merits and risks of an investment
in MT and the acquisition of the MT Stock, and FutureWorld has been given the opportunity to (i) obtain information and to examine
all documents relating to MT and MT's business, to (ii) ask questions of, and to receive answers from, MT concerning MT, MT's business
and the terms and conditions of an investment in MT, and to (iii) obtain any additional information, to the extent MT possesses
such information or could acquire such information without unreasonable effort or expense, necessary to verify the accuracy of
any information previously furnished. All such questions have been answered to FutureWorld's full satisfaction, and all information
and documents, records and books pertaining to an investment in MT which FutureWorld has requested have been made available to
FutureWorld.

 

3.15.2. FutureWorld is able to bear the substantial economic risks of its
investment in MT and the purchase of the MT Stock in that, among other factors, FutureWorld can afford to hold the MT Stock for
an indefinite period and can afford a complete loss of FutureWorld's investment in MT.

 

3.15.3. No material adverse change in FutureWorld's financial condition has
taken place during the past twelve months, and FutureWorld will have sufficient liquidity with respect to FutureWorld's net worth
for an adequate period of time to provide for FutureWorld's needs and contingencies.

 

3.15.4. FutureWorld is relying solely on FutureWorld's own decision or the
advice of FutureWorld's own adviser(s) with respect to an investment in MT and the acquisition of the MT Stock, and has neither
received nor relied on any communication from MT, MT's officers or MT's agents regarding any legal, investment or tax advice relating
to an investment in MT and the acquisition of the MT Stock.

 

3.15.5. The MT Stock is being acquired by FutureWorld for FutureWorld's own
account, for investment and not with a view to, or in connection with, any public offering or distribution of the same and without
any present intention to sell the same at any particular event or circumstances. FutureWorld has no agreement or other arrangement
with any person to sell, transfer or pledge any part of the MT Stock which would guarantee FutureWorld any profit or provide any
guarantee to FutureWorld against any loss with respect to the MT Stock.

 

3.15.6. FutureWorld understands that the MT Stock has not been registered
under the United States Securities Act of 1933, as amended (the "Act") or applicable state or other securities laws,
and the MT Stock is being offered and sold

    	 

    	 

    

under an exemption from registration provided by such laws and the rules and
regulations thereunder; further, FutureWorld understands that MT is under no obligation to register the MT Stock or to comply with
any applicable exemption under any applicable securities laws with respect to the MT Stock. FutureWorld must bear the economic
risks of an investment in the MT Stock for an indefinite period of time because it is not anticipated that there will be any market
for the MT Stock and because the MT Stock cannot be resold unless subsequently registered under applicable securities laws or unless
an exemption from such registration is available. FutureWorld also understands that the exemption provided by Rule 144 under the
Act may not be available because of the conditions and limitations of such Rule, and that in the absence of the availability of
such Rule, any disposition by FutureWorld of any portion of the MT Stock may require compliance with some other exemption under
the Act.

 

4. Stockholder
Investment Representations. Stockholders each hereby represent to FutureWorld,
jointly but not severally, that:

 

4.1. Stockholder
has such knowledge and experience in financial and business matters so as to be capable of evaluating and understanding, and has
evaluated and understood, the merits and risks of an investment in FutureWorld and the acquisition of securities of FutureWorld,
and Stockholder has been given the opportunity to (i) obtain information and to examine all documents relating to FutureWorld and
FutureWorld's business, to (ii) ask questions of, and to receive answers from, FutureWorld concerning FutureWorld, FutureWorld's
business and the terms and conditions of an investment in FutureWorld, and to (iii) obtain any additional information, to the extent
FutureWorld possesses such information or could acquire such information without unreasonable effort or expense, necessary to verify
the accuracy of any information previously furnished. All such questions have been answered to Stockholder's full satisfaction,
and all information and documents, records and books pertaining to an investment in FutureWorld which Stockholder has requested
have been made available to Stockholder.

 

4.2. Stockholder
is able to bear the substantial economic risks of Stockholder's investment in the FutureWorld Stock in that, among other factors,
Stockholder can afford to hold the FutureWorld Stock for an indefinite period and can afford a complete loss of Stockholder's investment
in FutureWorld.

 

4.3. Stockholder
is relying solely on Stockholder's own decision or the advice of Stockholder's own advisor(s) with respect to an investment in
FutureWorld and the acquisition of securities of FutureWorld, and has neither received nor relied on any communication from FutureWorld,
FutureWorld's officers or FutureWorld's agents regarding any legal, investment or tax advice relating to an investment in FutureWorld
and the acquisition of the FutureWorld Stock.

 

4.4. The
FutureWorld Stock is acquired by Stockholder for Stockholder's own account, for investment and not with a view to, or in connection
with, any public offering or distribution of the same and without any present intention to sell the same at any particular event
or circumstances. Stockholder has no agreement or other arrangement with any person to sell, transfer or pledge any part of the
FutureWorld Stock which would guarantee Stockholder any profit or provide any guarantee to Stockholder against any loss with respect
to the FutureWorld Stock.

 

4.5. Stockholder
understands that no federal, state or other governmental agency of the United States or any other territory or nation has passed
on or made any recommendation or endorsement of an investment in the FutureWorld Stock.

 

4.7. Stockholder
understands that the FutureWorld Stock has not been registered under the United States Securities Act of 1933, as amended (the
"Act") or applicable state or other securities laws, and the FutureWorld Stock is offered and sold under an exemption
from registration provided by such laws and the rules and regulations thereunder; further, Stockholder understands that FutureWorld
is under no obligation to the FutureWorld Stock or to comply with any applicable exemption under any applicable securities laws
with respect to the FutureWorld Stock . Stockholder must bear the economic risks of an investment in the FutureWorld Stock for
an indefinite period of time because it is not

    	 

    	 

    

anticipated that there will be any market for the FutureWorld Stock and because
the FutureWorld Stock cannot be resold unless subsequently registered under applicable securities laws or unless an exemption from
such registration is available. Stockholder also understands that the exemption provided by Rule 144 under the Act may not be available
because of the conditions and limitations of such Rule, and that in the absence of the availability of such Rule, any disposition
by Stockholder of any portion of the FutureWorld Stock may require compliance with some other exemption under the Act.

 

4.8. Stockholder
has been informed that legends referring to the restrictions indicated herein are placed on the certificate(s) evidencing securities
of FutureWorld to be held by Stockholder.

 

4.9. Stockholder
agrees that the foregoing representations and warranties will survive the sale of securities of FutureWorld to Stockholder, as
well as any investigation made by any party relying on same.

 

5. Conditions to Obligations.

 

5.1.
FutureWorld. The obligations of FutureWorld to deliver the FutureWorld
Stock on the Closing Date is conditioned upon the satisfaction or waiver of the following conditions:

 

5.1.1. Truth of Representations and Warranties. The representations and warranties
of MT and Stockholders contained in this Agreement shall be true and correct in all material respects on and as of the Closing
Date with the same effect as though such representations and warranties have been made on and as of such date (except to the extent
that any such representation and warranty is stated in this Agreement to be made as of a specific date, in which case such representation
and warranty shall be true and correct as of such specified date).

 

5.1.2. Performance of Agreements. All of the agreements of MT and the Stockholders
to be performed at or prior to the Closing Date pursuant to the terms hereof shall have been duly performed in all material respects.

 

5.1.3. No Injunction. No court or other government body or public authority
shall have issued an order which shall then be in effect restraining or prohibiting the completion of the transactions contemplated
hereby.

 

5.1.4. No Litigation. There shall not be any action, suit or proceeding pending
or threatened that seeks to (i) make the consummation of the transactions contemplated hereby illegal or otherwise restrict or
prohibit consummation thereof or (ii) require the divestiture by FutureWorld or any of its subsidiaries or Affiliates of shares
of stock or of any business, assets or property of any of its subsidiaries or Affiliates, or impose any material limitation on
the ability of any of them to conduct their business or to own or exercise control of such assets, properties or stock and which,
in either case, in the reasonable, good faith determination of FutureWorld has a significant likelihood of having a material adverse
effect on FutureWorld.

 

5.2. Stockholders
and MT. The delivery of the MT Stock to FutureWorld by Stockholders on the Closing Date is conditioned upon the satisfaction or
waiver, at or prior to the Closing of the following conditions:

 

5.2.1. Truth of Representations and Warranties. The representations and warranties
of FutureWorld contained in this Agreement shall be true and correct in all material respects on and as of the Closing Date with
the same effect as though such representations and warranties have been made on and as of such date (except to the extent that
any such representation and warranty is stated in this Agreement to be made as of a specific date, in which case such representation
and warranty shall be true and correct as of such specified date).

 

5.2.2. Performance of Agreements. All of the agreements of FutureWorld to
be performed at or prior to the Closing Date pursuant to the terms hereof shall have been duly performed in all material respects.

    	 

    	 

    

 

5.2.3. No Injunction. No court or other government body or public authority
shall have issued an order which shall then be in effect restraining or prohibiting the completion of the transactions contemplated
hereby.

 

5.2.4. No Litigation. There shall not be any action, suit or proceeding pending
or threatened that seeks to (i) make the consummation of the transactions contemplated hereby illegal or otherwise restrict or
prohibit consummation thereof or (ii) require the divestiture by FutureWorld or any of its subsidiaries or Affiliates of shares
of stock or of any business, assets or property of any of its subsidiaries or Affiliates, or impose any material limitation on
the ability of any of them to conduct their business or to own or exercise control of such assets, properties or stock and which,
in either case, in the reasonable, good faith determination of FutureWorld has a significant likelihood of having a material adverse
effect on FutureWorld.

 

6. Miscellaneous.

 

6.1.
Expenses. Except as otherwise provided in this Agreement, each party
to this Agreement will bear its respective fees and expenses incurred in connection with the preparation, negotiation, execution
and performance of this Agreement and the transactions contemplated herein. If this Agreement is terminated, the obligation of
each party to pay its own fees and expenses will be subject to any rights of such party arising from a breach of this Agreement
by another party.

 

6.2.
Waiver; Remedies Cumulative. The rights and remedies of the parties
to this Agreement are cumulative and not alternative. Neither any failure nor any delay by any party in exercising any right, power
or privilege under this Agreement or any of the documents referred to in this Agreement will operate as a waiver of such right,
power or privilege, and no single or partial exercise of any such right, power or privilege will preclude any other or further
exercise of such right, power or privilege or the exercise of any other right, power or privilege. To the maximum extent permitted
by applicable law, (a) no claim or right arising out of this Agreement or any of the documents referred to in this Agreement can
be discharged by one party, in whole or in part, by a waiver or renunciation of the claim or right unless in writing signed by
the other party; (b) no waiver that may be given by a party will be applicable except in the specific instance for which it is
given; and (c) no notice to or demand on one party will be deemed to be a waiver of any obligation of that party or of the right
of the party giving such notice or demand to take further action without notice or demand as provided in this Agreement or the
documents referred to in this Agreement.

 

6.3.
Entire Agreement and Modification. This Agreement supersedes all
prior agreements, whether written or oral, between the parties with respect to its subject matter, and constitutes a complete and
exclusive statement of the terms of the agreement between the parties with respect to its subject matter. This Agreement may not
be amended, supplemented, or otherwise modified except by a written agreement executed by the party to be charged with the amendment.

 

6.4.
Assignments, Successors and No Third-Party Rights. No party may assign
any of its rights or delegate any of its obligations under this Agreement without the prior written consent of the other parties.
Subject to the preceding sentence, this Agreement will apply to, be binding in all respects upon and inure to the benefit of the
successors and permitted assigns of the parties. Nothing expressed or referred to in this Agreement will be construed to give any
Person other than the parties to this Agreement any legal or equitable right, remedy or claim under or with respect to this Agreement
or any provision of this Agreement, except such rights as shall inure to a successor or permitted assignee pursuant to this Section.

 

6.5.
Severability. If any provision of this Agreement is held invalid
or unenforceable by any court of competent jurisdiction, the other provisions of this Agreement will remain in full force and effect.
Any provision of this

    	 

    	 

    

Agreement held invalid or unenforceable only in part or degree will remain
in full force and effect to the extent not held invalid or unenforceable.

 

6.6.
Construction. The headings of Articles and Sections in this Agreement
are provided for convenience only and will not affect its construction or interpretation. All references to "Articles"
and "Sections" refer to the corresponding Articles and Sections of this Agreement.

 

6.7.
Time of Essence. With regard to all dates and time periods set forth
or referred to in this Agreement, time is of the essence.

 

6.8.
Notices. All notices, consents, waivers and other communications
required or permitted by this Agreement shall be in writing and shall be deemed given to a party when (a) delivered to the appropriate
address by hand or by nationally recognized overnight courier service (costs prepaid); (b) sent by facsimile or e-mail with confirmation
of transmission by the transmitting equipment, so long as such facsimile or e-mail is followed by a copy sent by mail; or (c) received
or rejected by the addressee, if sent by certified mail, return receipt requested, in each case to the following addresses, facsimile
numbers or e-mail addresses and marked to the attention of the person (by name or title) designated below (or to such other address,
facsimile number, e-mail address or person as a party may designate by notice to the other parties):

 

To FutureWorld:To MedTest, Inc. Corporation

 

FutureWorld Energy, Inc.

3637 4th Street North #330_________________________

St. Petersburg, FL 33731_________________________

Facsimile: (813) 354-2739CEO/President

Facsimile: (____) __________

 

To Stockholders:

 

At the addresses shown on Schedule A

 

6.9.
Governing Law; Consent to Jurisdiction. The interpretation and construction
of this Agreement, and all matters relating hereto, shall be governed by the laws of the State of Florida applicable to contracts
made and to be performed entirely within the State of Florida. Any proceeding, action, litigation or claim (a "Proceeding")
arising out of or relating to this Agreement or any of the transactions contemplated herein may be brought in the courts of the
State of Florida, County of Pinellas, or, if it has or can acquire jurisdiction, in the United States District Court for the Central
District of Florida, and each of the parties irrevocably submits to the exclusive jurisdiction of each such court in any such Proceeding,
waives any objection it may now or hereafter have to venue or to convenience of forum, agrees that all claims in respect of the
Proceeding shall be heard and determined only in any such court and agrees not to bring any Proceeding arising out of or relating
to this Agreement or any of the transactions contemplated herein in any other court. The parties agree that any of them may file
a copy of this paragraph with any court as written evidence of the knowing, voluntary and bargained agreement between the parties
irrevocably to waive any objections to venue or to convenience of forum. Each party hereto hereby consents to process being served
in any such action or proceeding by the mailing of a copy thereof to the address set forth opposite its name below and agrees that
such service upon receipt shall constitute good and sufficient service of process or notice thereof. Nothing in this paragraph
shall affect or eliminate any right to serve process in any other manner permitted by law.

 

6.10.
Waiver of Jury Trial. The parties hereby waive any right to trial
by jury in any proceeding arising out of or relating to this agreement or any of the contemplated transactions, whether now existing
or hereafter arising, and

    	 

    	 

    

whether sounding in contract, tort or otherwise. The parties agree that any
of them may file a copy of this paragraph with any court as written evidence of the knowing, voluntary and bargained-for agreement
among the parties irrevocably to waive trial by jury and that any proceeding whatsoever between them relating to this agreement
or any of the contemplated transactions shall instead be tried in a court of competent jurisdiction by a judge sitting without
a jury.

 

6.11.
Execution of Agreement. This Agreement may be executed in one or
more counterparts, each of which will be deemed to be an original copy of this Agreement and all of which, when taken together,
will be deemed to constitute one and the same agreement. The exchange of copies of this Agreement and of signature pages by facsimile
transmission shall constitute effective execution and delivery of this Agreement as to the parties and may be used in lieu of the
original Agreement for all purposes. Signatures of the parties transmitted by facsimile shall be deemed to be their original signatures
for all purposes.

 

6.12.
Indemnification. Each party shall indemnify, defend, and hold harmless
the other party against and in respect of any and all liability, claims, demands, losses, costs, expenses, obligations, liabilities,
damages, recoveries, and deficiencies, including interest, penalties, and reasonable professional and attorney's fees, including
those arising from settlement negotiations, that such party shall incur or suffer, which arise, result from, or relate to any breach
of, or failure by the other party to perform, any of such party's representations, warranties, covenants, or agreements in this
Agreement or in any schedule, certificate, exhibit or other instrument furnished or to be furnished by such party under this Agreement.

 

IN WITNESS WHEREOF, each of the parties has caused this Stock Exchange Agreement
to be executed as of the day and year first above written.

 

 

 

 

 

HempTech Corp., a Delaware CompanyMedTest, Inc., (aka, CB Scientific)
a Nevada corporation

 

 

By:___/s/Sam Talari___________By:_____/s/Charles Steinberg___

Sam Talari

 

Title:_______________________

 

 

Title:__CEO___________________By:____/s/Derek Lebahn________

 

 

Title:_______________________

 

 

MT Stockholders:

 

Charles Wayne Steinberg

 

Derek Allen Lebahn

 

    	 

    	 

    

 

 

SCHEDULE A

 

STOCKHOLDERS AND STOCKHOLDINGS

 

 

 

 

 

Stockholder# Shares of MT Stock # Shares of FutureWorld

 

 

 

Charles Wayne Steinberg ___500________________________ 750,000
and 1,750,000 (Restricted Common)

 

 

 

Derek Allen Lebahn _______500_________________________ 750,000
and 1,750,000 (Restricted Common)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    	 

    	 

    

 

 

LOCK-UP AGREEMENT

 

 

05/02/2014

 

 

Ladies and Gentlemen:

 

 

The undersigned is a current or former director,
executive officer or beneficial owner of shares of capital stock or membership interests, or securities convertible into or exercisable
or exchangeable for the capital stock or membership interests (each, a “Company Security”) of MedTest Inc., a Nevada
company (the “Company”). The undersigned understands that the Company will merge or otherwise combine (the “Merger”)
with and, as a result, become a wholly-owned subsidiary of, FutureWorld Energy, Inc. a publicly traded Delaware company (“Parent”),
concurrently with the stock exchange agreement by Parent of 5,000,000 shares of restricted common stock of Parent’s securities
(the “Shares”, and the transaction, the “Stock Exchange Agreement”). The undersigned understands that the
Company, Parent and each investor in the Stock Exchange Agreement will proceed with the Transaction in reliance on this Letter
Agreement.

 

1.Lockup. In recognition of the benefit that the Stock Exchange Agreement
will confer upon the undersigned, and for other good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the undersigned agrees, for the benefit of the Company, Parent, and each investor in the Transaction, that, during
the period beginning on the closing date of the Merger (the “Closing Date”) and ending eighteen (18) months after such
date (the “Lockup Period”), the undersigned will not, directly or indirectly, (i) offer, sell, offer to sell, contract
to sell, hedge, pledge, sell any option or contract to purchase, purchase any option or contract to sell, grant any option, right
or warrant to purchase or sell (or announce any offer, sale, offer of sale, contract of sale, hedge, pledge, sale of any option
or contract to purchase, purchase of any option or contract of sale, grant of any option, right or warrant to purchase or other
sale or disposition), or otherwise transfer or dispose of (or enter into any transaction or device that is designed to, or could
be expected to, result in the disposition by any person at any time in the future), any securities of Parent (each, a “Parent
Security”), beneficially owned, within the meaning of Rule 13d-3 under the Securities Exchange Act of 1934, as amended (the
“Exchange Act”), by the undersigned on the date hereof or hereafter acquired or (ii) enter into any swap or other agreement
or any transaction that transfers, in whole or in part, directly or indirectly, the economic consequence of ownership of any Parent
Security, whether any such swap or transaction described in clause (i) or (ii) above is to be settled by delivery of any Parent
Security (each of the foregoing, a “Prohibited Sale”). This Letter Agreement shall apply to all Parent Shares owed
by the undersigned including Parent Shares issued to the undersigned in connection with the Merger.

 

2.Leak Out Provision. Notwithstanding the restrictions in Section
1 herein, the undersigned may sell up to 5% of the Parent Securities owed by the undersigned in any given calendar month, beginning
with the first full calendar month after the date that is the twelve month anniversary of this Letter Agreement.

 

3.Permitted Transfers. Notwithstanding the foregoing, the undersigned
(and any transferee of the undersigned) may transfer any shares of a Parent Security: (i) as a bona fide gift or gifts, provided
that prior to such transfer the donee or donees thereof agree in writing to be bound by the restrictions set forth herein, (ii)
to any trust, partnership, corporation or other entity formed for the direct or indirect benefit of the undersigned or the immediate
family of the undersigned, provided that prior to such transfer a duly authorized officer, representative or trustee of such transferee
agrees in writing to be bound by the restrictions set forth herein, and provided further that any such transfer shall not

    	 

    	 

    

involve a disposition for value, (iii) to non-profit organizations qualified
as charitable organizations under Section 501(c)(3) of the Internal Revenue Code of 1986, as amended, or (iv) if such transfer
occurs by operation of law, such as rules of descent and distribution, statutes governing the effects of a merger or a qualified
domestic order, provided that prior to such transfer the transferee executes an agreement stating that the transferee is receiving
and holding Parent Security subject to the provisions of this agreement. For purposes hereof, “immediate family” shall
mean any relationship by blood, marriage or adoption, not more remote than first cousin. In addition, the foregoing shall not prohibit
privately negotiated transactions, provided the transferees agree, in writing, to be bound to the terms of this Letter Agreement
for the balance of the Lockup Period.

 

4.Opinion of Counsel. Any Parent Security of the undersigned shall
contain a restrictive “lock-up” legend governed by the terms of this Letter Agreement. The Parent’s transfer
agent shall only accept an opinion of counsel to remove such legend from counsel acceptable to the Company. An opinion from Laura
Anthony or Craig Huffman, Esq. and any firm with which they are associated shall be deemed acceptable counsel to the Company.

 

5.Governing Law. This Letter Agreement shall be governed by and construed
in accordance with the laws of the Florida.

 

6.Miscellaneous. This Letter Agreement will become a binding agreement
among the undersigned as of the date hereof. In the event that no closing of the Merger or the Funding Transaction occurs, this
Letter Agreement shall be null and void. This Letter Agreement (and the agreements reflected herein) may be terminated by the mutual
agreement of Parent and the undersigned, and if not sooner terminated, will terminate upon the expiration date of the Lockup Period.
This Letter Agreement may be duly executed by facsimile and in any number of counterparts, each of which shall be deemed an original,
and all of which together shall be deemed to constitute one and the same instrument. Signature pages from separate identical counterparts
may be combined with the same effect as if the parties signing such signature page had signed the same counterpart. This Letter
Agreement may be modified or waived only by a separate writing signed by each of the parties hereto expressly so modifying or waiving
such agreement.

 

 

Very truly yours, Sam Talari – CEO

 

____/s/Sam Talari__________________________

 

 

Number of shares of Common Stock owned:

 

Certificate Numbers: _____________________________

 

Accepted and Agreed to:

 

HempTech Corp., a Delaware company

 

By:_____/s/Sam Talari_______________

Name: Sam Talari

Title: CEO

 

MedTest Inc., (aka, CB Scientific) a Nevada company

 

By:___/s/Charles Steinberg________________By:___/s/Derek Lebahn__

Name: Charles Wayne SteinbergName: Derek Allen LebahnEx 4.4 - 2014 10-Q GAHR 3

EXHIBIT 4.4

ESCROW AGREEMENT

UMB BANK, N.A.
1010 Grand Boulevard
Kansas City, Missouri 64106

Re:    Griffin-American Healthcare REIT III, Inc.  

Ladies and Gentlemen:

GRIFFIN-AMERICAN HEALTHCARE REIT III, INC., a Maryland corporation (the “Company”), will issue in a public offering (the “Offering”) shares of its common stock (the “Stock”) pursuant to a registration statement on Form S-11 filed by the Company with the Securities and Exchange Commission.  GRIFFIN CAPITAL SECURITIES, INC., a California corporation (the “Dealer Manager”), will act as dealer manager for the offering of the Stock.  The Company is entering into this Escrow Agreement (the “Agreement”) to set forth the terms on which UMB Bank, N.A. (the “Escrow Agent”) will, except as otherwise provided herein, hold and disburse the proceeds from subscriptions for the purchase of the Stock in the Offering until such time as (i) in the case of subscriptions received from all nonaffiliates of the Company, other than from residents of Washington and Pennsylvania, the Company has received subscriptions for Stock resulting in a total of $2,000,000 in shares of common stock sold in the Offering (the “Required Capital”); (ii) in the case of subscriptions received from residents of Washington (“Washington Subscribers”), the Company has received subscriptions for Stock from nonaffiliates of the Company resulting in a total of $20,000,000 in shares of Stock sold in the Offering (the “Washington Required Capital”); and (iii) in the case of subscriptions received from residents of Pennsylvania (“Pennsylvania Subscribers”), the Company has received subscriptions for Stock from nonaffiliates of the Company resulting in a total of $87,500,000 in shares of Stock sold in the Offering (the “Pennsylvania Required Capital”).

The Company hereby appoints UMB Bank, N.A. as Escrow Agent for purposes of holding the proceeds from the subscriptions for the Stock, on the terms and conditions hereinafter set forth:

1.    Until such time as the Company has received subscriptions for Stock resulting in total minimum capital raised equal to the Required Capital and such funds are disbursed from the Escrow Account (as defined below) in accordance with paragraph 3(a) hereof, persons subscribing to purchase the Stock (the “Subscribers”) will be instructed by the Dealer Manager or any soliciting dealers to remit the purchase price in the form of checks, drafts, wires, Automated Clearing House (ACH) or money orders (hereinafter, the “instrument of payment”), payable to the order of “UMB Bank, N.A., Agent for Griffin-American Healthcare REIT III, Inc.”  After subscriptions are received resulting in total minimum capital raised equal to the Required Capital and such funds are disbursed from the Escrow Account in accordance with paragraph 3(a) hereof, subscriptions shall continue to be so submitted and paid for by delivering a check for the full purchase price made payable to “Griffin-American Healthcare REIT III, Inc.”; provided, however, that Washington Subscribers and Pennsylvania Subscribers shall continue to make checks payable to the order of “UMB Bank, N.A., Agent for Griffin-American Healthcare REIT III, Inc.” until subscriptions are received resulting in total minimum capital raised equal to the Washington Required Capital or the Pennsylvania Required Capital, as applicable, and such funds are disbursed from the Escrow Account (as defined below), as applicable, in accordance with paragraph 3(a) hereof.  Within one (1) business day after receipt of an instrument of payment from the Offering, (a) the Dealer Manager, the Company or their respective agents will send to the 

1

Escrow Agent a copy of the relevant part of each Subscriber’s subscription agreement showing the Subscriber’s name, address, tax identification number (Substitute IRS Form W-9), number of shares purchased, and purchase price remitted, and (b) the Escrow Agent will deposit the instrument of payment from such Subscribers using the Escrow Agent’s electronic facilities, into an interest-bearing deposit account entitled “Escrow Account for the Benefit of Subscribers for Common Stock of Griffin-American Healthcare REIT III, Inc.” (the “Escrow Account”), until such Escrow Account has closed pursuant to paragraph 3(a) hereof; provided, however, that instruments of payment received from Washington Subscribers and Pennsylvania Subscribers (as identified as such by the Company) shall be accounted for separately until the Escrow Account has closed pursuant to paragraph 3(a) hereof.  The Escrow Account will be established and maintained in such a way as to permit the interest income calculations described in paragraph 7.  The Company shall, and shall cause its agents to, cooperate with the Escrow Agent in separately accounting for Washington and Pennsylvania subscription proceeds in the Escrow Account and the Escrow Agent shall be entitled to rely upon information provided by the Company or its agents in this regard.

2.    The Escrow Agent agrees to promptly process for collection the instrument of payment upon deposit into the Escrow Account. Deposits shall be held in the Escrow Account until such funds are disbursed in accordance with paragraph 3 hereof. Prior to disbursement of the funds deposited in the Escrow Account such funds shall not be subject to claims by creditors of the Escrow Agent, the Company, the Dealer Manager, any soliciting dealer or any of their respective affiliates. If the instrument of payment is returned to the Escrow Agent for nonpayment prior to receipt of the Required Capital or, in connection with subscriptions from Washington Subscribers, the Washington Required Capital, or, in connection with subscriptions from Pennsylvania Subscribers, the Pennsylvania Required Capital, the Escrow Agent shall promptly notify the Dealer Manager and the Company in writing via mail, email or facsimile of such nonpayment, and is authorized to debit the Escrow Account in the amount of such returned payment as well as any interest earned on the amount of such payment.

3.    (a)    Subject to the provisions of subparagraphs 3(b)-3(f) below,

(i)    Once the collected funds in the Escrow Account are an amount equal to or greater than the Required Capital, the Escrow Agent shall, upon receiving written instruction from the Dealer Manager or the Company, (A) disburse to the Company, by check or wire transfer, the funds in the Escrow Account representing the gross purchase price for the Stock, and (B) within five business days after the first business day of the succeeding month, disburse to the Subscribers or the Company, as applicable, any interest thereon pursuant to the provisions of subparagraph 3(f).  After such time the Escrow Account shall remain open and the Dealer Manager or Company shall continue to cause subscriptions for the Stock (other than subscriptions received from Washington Subscribers and Pennsylvania Subscribers that are subject to subparagraphs 3(a)(ii) and 3(a)(iii) below) to be deposited therein until the Company informs the Escrow Agent in writing to close the Escrow Account.  For purposes of this Agreement, the term “collected funds” shall mean all funds received by the Escrow Agent that have cleared normal banking channels and are in the form of cash or cash equivalent.  After the satisfaction of the aforementioned provisions of this paragraph 3(a)(i), in the event the Company receives subscriptions made payable to the Escrow Agent (other than subscriptions received from Washington Subscribers and Pennsylvania Subscribers), subscription proceeds may continue to be received in this account generally, but to the extent such proceeds shall not be subject to escrow due to the satisfaction of the aforementioned provisions of this paragraph 3(a)(i), such proceeds are not subject to this Agreement and at the instruction of the Dealer Manager or the Company to the Escrow Agent shall be transferred from the Escrow Account to the Company.

(ii)    Regardless of any release of funds from the Escrow Account, the Company, the Dealer Manager and soliciting dealers shall continue to forward instruments of payment received from Washington Subscribers for deposit into the Escrow Account to the Escrow Agent until such time as the Dealer Manager or the Company notifies the Escrow Agent in writing that total subscription proceeds equal or exceed the Washington Required Capital.  Upon the receipt by the Escrow Agent of such notice, the Escrow Agent shall (A) disburse to the Company, by check or wire transfer, the funds in the Escrow Account representing the gross purchase price for the Stock, and (B) within five business days after the first 

2

business day of the succeeding month, disburse to the Washington Subscribers or the Company, as applicable, any interest thereon pursuant to the provisions of subparagraph 3(f).  Thereafter any instruments of payment received by the Escrow Agent from Washington Subscribers shall not be subject to this Escrow Agreement and shall be deposited directly into the Escrow Account (or to the Company, if it has closed the Escrow Account, as instructed in writing by the Company pursuant to subparagraph 3(a)(i) above).

(iii)    Regardless of any release of funds from the Escrow Account, the Company, the Dealer Manager and soliciting dealers shall continue to forward instruments of payment received from Pennsylvania Subscribers for deposit into the Escrow Account to the Escrow Agent until such time as the Dealer Manager or the Company notifies the Escrow Agent in writing that total subscription proceeds equal or exceed the Pennsylvania Required Capital.  Upon the receipt by the Escrow Agent of such notice, the Escrow Agent shall (A) disburse to the Company, by check, ACH or wire transfer, the funds in the Escrow Account representing the gross purchase price for the Stock, and (B) within five business days after the first business day of the succeeding month, disburse to the Pennsylvania Subscribers or the Company, as applicable, any interest thereon pursuant to the provisions of subparagraph 3(f).  Thereafter any instruments of payment received by the Escrow Agent from Pennsylvania Subscribers shall not be subject to this Escrow Agreement and shall be deposited directly into the Escrow Account (or to the Company, if it has closed the Escrow Account, as instructed in writing by the Company pursuant to subparagraph 3(a)(i) above).

(b)    Within four business days of the close of business on the date that is one year following commencement of the Offering (the Company will notify the Escrow Agent of the commencement of the Offering) (the “Expiration Date”), the Escrow Agent shall promptly notify the Company if it is not in receipt of evidence of deposits for the purchase of Stock providing for aggregate offering proceeds that equal or exceed the Required Capital (from all sources but exclusive of any funds received from subscriptions for Stock from entities which the Company has notified the Escrow Agent are affiliated with the Company).  Within ten days following the date of such notice, the Escrow Agent shall promptly return directly to each Subscriber the collected funds deposited in the Escrow Account on behalf of such Subscriber, or shall return the instrument of payment delivered, but not yet processed for collection prior to such time, in either case, together with interest income (which interest shall be paid within five business days after the first business day of the succeeding month) in the amounts calculated pursuant to paragraph 7 for each Subscriber at the address provided by the Dealer Manager or the Company to the Escrow Agent, which the Escrow Agent shall be entitled to rely upon.  However, the Escrow Agent shall not be required to remit any payments until the Escrow Agent has collected funds represented by such payments.

(c)    Notwithstanding subparagraphs 3(a) and 3(b) above, if on or before the close of business on such date that is 120 days after a Pennsylvania Subscriber’s subscription for Stock received by the Company (with respect to each Pennsylvania Subscriber, the “Initial Escrow Period”) (such subscription date shall be promptly provided to the Escrow Agent by the Company after each subscription for Stock received by the Company from a Pennsylvania Subscriber), the Escrow Agent is not in receipt of instruments of payment dated not later than that date from nonaffiliated sources in an amount that, when added to the total subscription proceeds as of such date, equals or exceeds the Pennsylvania Required Capital, the Company or the Dealer Manager shall send to the applicable Pennsylvania Subscriber within ten (10) calendar days after the end of such Pennsylvania Subscriber’s Initial Escrow Period a notification in the form of Exhibit C.  If, pursuant to such notification, the applicable Pennsylvania Subscriber requests the return of his or her subscription funds within ten (10) calendar days after receipt of the notification (the “Request Period”), the Company or the Dealer Manager shall notify the Escrow Agent of such request by the close of business on the next business day after receipt of the request from such Pennsylvania Subscriber.  Within fifteen (15) calendar days after receipt of notice of such request from the Company or the Dealer Manager, the Escrow Agent shall deliver directly to the applicable Pennsylvania Subscriber the collected funds from instruments of payment deposited in the Escrow Account on behalf of such Pennsylvania Subscriber, together with interest income in the amount calculated pursuant to paragraph 7.  However, the Escrow Agent shall not be required to remit such payments until the Escrow Agent has collected funds represented by such payments.

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(d)    The subscription funds of each Pennsylvania Subscriber who does not request the return of their subscription funds within the Request Period shall remain in the Escrow Account for successive 120-day escrow periods (with respect to each Pennsylvania Subscriber, a “Successive Escrow Period”), each commencing automatically upon the termination of the respective Pennsylvania Subscriber’s Initial Escrow Period or prior Successive Escrow Period, as applicable, and the Company and the Escrow Agent shall follow the notification and payment procedure set forth in paragraph 3(c) above with respect to the Initial Escrow Period for each Pennsylvania Subscriber’s Successive Escrow Period until the occurrence of the earliest of (i) such time as the Dealer Manager or the Company notifies the Escrow Agent in writing pursuant to paragraph 3(a)(iv) that total subscription proceeds equal or exceed the Pennsylvania Required Capital and the disbursement of the Escrow Account on the terms specified herein, or (ii) all funds held in the Escrow Account having been returned to the Pennsylvania Subscribers in accordance with the provisions hereof.

(e)     If the Company rejects any subscription for which the Escrow Agent has collected funds, the Escrow Agent shall, upon the written request of the Dealer Manager or the Company, promptly issue a refund to the rejected Subscriber at the address provided by the Dealer Manager or the Company, which the Escrow Agent shall be entitled to rely upon.  If the Company rejects any subscription for which the Escrow Agent has not yet collected funds but has submitted the Subscriber’s check for collection, the Escrow Agent shall promptly return the funds in the amount of the Subscriber’s check to the rejected Subscriber, at the address provided by the Dealer Manager or the Company or their respective agents, which the Escrow Agent shall be entitled to rely upon, after such funds have been collected.

(f)    At any time after funds are disbursed upon the Company’s acceptance of subscriptions pursuant to subparagraph 3(a) above on the fifth business day following the first business day of the next succeeding month following the date of such acceptance, the Escrow Agent shall promptly provide directly to each Subscriber the amount of the interest payable to the Subscribers.  However, the Escrow Agent shall not be required to remit any payments until the Escrow Agent has collected funds represented by such payments.

In the event that the instrument of payment is returned for nonpayment, the Escrow Agent is authorized to debit the Escrow Account in accordance with paragraph 2 hereof.

4.    The Escrow Agent shall provide the Dealer Manager and the Company with electronic access to view the account balance and account activity in the Escrow Account and shall provide the Company printed monthly statements (or more frequently as reasonably requested by the Company) on the account balance of the Escrow Account and the activity in such accounts since the last report.

5.    Prior to the disbursement of funds deposited in the Escrow Account, in accordance with the provisions of paragraph 3 hereof, the Escrow Agent shall invest all of the funds deposited as well as earnings and interest derived therefrom in the Escrow Account in the “Short-Term Investments” specified below at the written direction of the Company, unless the costs to the Company for the making of such investment are reasonably expected to exceed the anticipated interest earnings from such investment in which case the funds and interest thereon shall remain in the respective escrow account until the balance in the escrow account reaches the minimum amount necessary for the anticipated interest earnings from such investment to exceed the costs to the Company for the making of such investment, as determined by the Company based upon applicable interest rates. In the absence of written direction of the Company, the Escrow Agent is hereby directed to invest all funds deposited in the Escrow Account in UMB Money Market Special, a bank money-market account.
 
“Short-Term Investments” include obligations of, or obligations guaranteed by, the United States government or bank money-market accounts or certificates of deposit of national or state banks that have deposits insured by the Federal Deposit Insurance Corporation (including certificates of deposit of any bank acting as a depository or custodian for any such funds) which mature on or before the Expiration Date, unless such instrument cannot be readily sold or otherwise disposed of for cash by the Expiration Date without any dissipation of the offering proceeds invested.  Without limiting the generality 

4

of the foregoing, Exhibit A hereto sets forth specific Short-Term Investments that shall be deemed permissible investments hereunder.

The following securities are not permissible investments:

(a)    money market funds;
(b)    corporate equity or debt securities;
(c)    repurchase agreements;
(d)    bankers’ acceptances;
(e)    commercial paper; and
(f)    municipal securities.

It is hereby expressly agreed and stipulated by the parties hereto that the Escrow Agent shall not be required to exercise any discretion hereunder and shall have no investment or management responsibility and, accordingly, shall have no duty to, or liability for its failure to, provide investment recommendations or investment advice to the parties hereto.  It is the intention of the parties hereto that the Escrow Agent shall never be required to use, advance or risk its own funds or otherwise incur financial liability in the performance of any of its duties or the exercise of any of its rights and powers hereunder.

6.    The Escrow Agent is entitled to rely upon written instructions received from the Company or the Dealer Manager or their respective agents, unless the Escrow Agent has actual knowledge that such instructions are not valid or genuine; provided that, if in the Escrow Agent’s opinion, any instructions from the Company or the Dealer Manager or their respective agents are unclear, the Escrow Agent may request clarification from the Company or the Dealer Manager or their respective agents, as applicable, prior to taking any action, and if such instructions continue to be unclear, the Escrow Agent may rely upon written instructions from the Company’s legal counsel in distributing or continuing to hold any funds.  However, the Escrow Agent shall not be required to disburse any funds attributable to the instrument of payment that have not been processed for collection, until such funds are collected and then shall disburse such funds in compliance with the disbursement instructions from the Company or the Dealer Manager or their respective agents.

7.    If the Offering terminates prior to receipt of the Required Capital or, with respect to Washington Subscribers and Pennsylvania Subscribers, the Washington Required Capital or the Pennsylvania Required Capital, as applicable, interest income earned on subscription proceeds deposited in the Escrow Account (the “Escrow Income”) shall be remitted to Subscribers to the address provided by the Dealer Manager or the Company to the Escrow Agent, which the Escrow Agent shall be entitled to rely upon in accordance with paragraph 3 and without any deductions for escrow expenses.  The Company shall reimburse the Escrow Agent for all escrow expenses.  If the Escrow Agent remits interest income pursuant to this Agreement, the Escrow Agent shall be responsible for any necessary federal tax reporting associated with such income; provided, however, that the Escrow Agent shall not be responsible for any other tax reporting associated with this Agreement.  The Escrow Agent shall remit all such Escrow Income in accordance with paragraph 3.  If the Company chooses to leave the Escrow Account open after receiving the Required Capital then it shall make regular acceptances of subscriptions therein, but no less frequently than monthly, and the Escrow Income from the last such acceptance shall be calculated and remitted to the Subscribers or the Company, as applicable, pursuant to the provisions of paragraph 3(f).

8.    The Escrow Agent shall receive compensation from the Company as set forth in Exhibit B attached hereto, which such Exhibit B is hereby incorporated by reference.

9.    In performing any of its duties hereunder, the Escrow Agent shall not incur any liability to anyone for any damages, losses, or expenses, except for willful misconduct, breach of trust, or gross negligence.  Accordingly, the Escrow Agent shall not incur any such liability with respect to any action taken or omitted (a) in good faith upon advice of the Escrow Agent’s counsel given with respect to any questions relating to the Escrow Agent duties and responsibilities under this Agreement, or (b) in reliance upon any instrument, including any written instrument or instruction provided for in this Agreement, not 

5

only as to its due execution and validity and effectiveness of its provisions but also as to the truth and accuracy of information contained therein, which the Escrow Agent shall in good faith believe to be genuine, to have been signed or presented by a proper person or persons and to conform to the provisions of this Agreement.

10.    The Company and the Dealer Manager hereby agree to indemnify and hold the Escrow Agent harmless against any and all losses, claims, damages, liabilities, and expenses, including reasonable attorneys’ fees and disbursements, that may be imposed on or incurred by the Escrow Agent in connection with acceptance of appointment as the Escrow Agent hereunder, or the performance of the duties hereunder, including any litigation arising from this Agreement or involving the subject matter hereof, except where such losses, claims, damages, liabilities, and expenses result from willful misconduct, breach of trust, or gross negligence on the part of the Escrow Agent.  Venue for any action or litigation arising between or among the Company and/or Dealer Manager on one hand and the Escrow Agent on the other hand involving the subject matter hereof shall lie exclusively in Orange County, California.

11.    In the event of a dispute between the parties hereto sufficient in the Escrow Agent’s discretion to justify doing so, the Escrow Agent shall be entitled to tender into the registry or custody of any court of competent jurisdiction all money or property in its hands under this Agreement, together with such legal pleadings as deemed appropriate, and thereupon be discharged from all further duties and liabilities under this Agreement. In the event of any uncertainty as to the duties hereunder, the Escrow Agent may refuse to act under the provisions of this Agreement pending order of a court of competent jurisdiction and shall have no liability to the Company or to any other person as a result of such action.  Any such legal action may be brought in such court, as the Escrow Agent shall determine to have jurisdiction thereof.  The filing of any such legal proceedings shall not deprive the Escrow Agent of its compensation earned prior to such filing.

12.    All communications and notices required or permitted by this Agreement shall be in writing and shall be deemed to have been given when delivered personally or by messenger or by overnight delivery service or when received via telecopy or other electronic transmission, in all cases addressed to the person for whom it is intended at such person’s address set forth below or to such other address as a party shall have designated by notice in writing to the other party in the manner provided by this paragraph:

(a)    if to the Company:

18191 Von Karman Avenue, Suite 300
Irvine, California  92612
Attention:  Jeffrey T. Hanson

(b)    if to the Dealer Manager:

Griffin Capital Securities, Inc.
18191 Von Karman Avenue, Suite 300
Irvine, California  92612
Attention: Charles Huang

(c)    if to the Escrow Agent:
        
UMB Bank, N.A.
Corporate Trust & Escrow Services
1010 Grand Boulevard, 4th Floor
Kansas City, Missouri 64106
Attention: Lara Stevens

6

Each party hereto may, from time to time, change the address to which notices to it are to be delivered or mailed hereunder by notice in accordance herewith to the other parties.

13.    This Agreement shall be governed by the laws of the State of California as to both interpretation and performance without regard to the conflict of laws rules thereof.

14.    The provisions of this Agreement shall be binding upon the legal representatives, successors, and assigns of the parties hereto.

15.    The Company and the Dealer Manager hereby acknowledge that UMB Bank, N.A. is serving as Escrow Agent only for the limited purposes herein set forth, and hereby agree that they will not represent or imply that, by serving as Escrow Agent hereunder or otherwise, the Escrow Agent has investigated the desirability or advisability of investment in the Company or has approved, endorsed, or passed upon the merits of the Stock or the Company, nor shall they use the name of the Escrow Agent in any manner whatsoever in connection with the offer or sale of the Stock other than by acknowledgment that it has agreed to serve as Escrow Agent for the limited purposes herein set forth.

16.    This Agreement and any amendment hereto may be executed by the parties hereto in one or more counterparts, each of which shall be deemed to be an original.

17.    In the event that the Dealer Manager receives the instrument of payment after the Required Capital, the Washington Required Capital or the Pennsylvania Required Capital, as applicable, has been received and the proceeds of the Escrow Account have been distributed to the Company, the Escrow Agent is hereby authorized to deposit such instrument of payment within one (1) business day to any deposit account as directed by the Company.  The application of said funds into a deposit account or to forward such funds directly to the Company, in either case directed by the Company, shall be a full acquittance to the Escrow Agent, who shall not be responsible for the application of said funds thereafter.

18.    The Escrow Agent shall be bound only by the terms of this Agreement and shall not be bound by or incur any liability with respect to any other agreements or understanding between any other parties, whether or not the Escrow Agent has knowledge of any such agreements or understandings.

19.    Indemnification provisions set forth herein shall survive the termination of this Agreement.

20.In the event that any part of this Agreement is declared by any court or other judicial or administrative body to be null, void, or unenforceable, said provision shall survive to the extent it is not so declared, and all of the other provisions of this Agreement shall remain in full force and effect.

21.    Unless otherwise provided in this Agreement, final termination of this Agreement shall occur on the date that all funds held in the Escrow Account are distributed either (a) to the Company or to Subscribers and the Company has informed the Escrow Agent in writing to close the Escrow Account pursuant to paragraph 3 hereof or (b) to a successor escrow agent upon written instructions from the Company.

22.    Neither the Escrow Agent, nor its agents, shall have responsibility for accepting, rejecting, or approving subscriptions.  The Escrow Agent, or its agent, shall complete an OFAC search, in compliance with its policy and procedures, of each subscription check and shall inform the Company if a subscription check fails the OFAC search.  The Dealer Manager shall provide a copy of each subscription check in order that the Escrow Agent, or its agent, may perform such OFAC search.

23.    This Agreement shall not be modified, revoked, released, or terminated unless reduced to writing and signed by all parties hereto, subject to the following paragraph.

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If, at any time, any attempt is made to modify this Agreement in a manner that would increase the duties and responsibilities of the Escrow Agent or to modify this Agreement in any manner which the Escrow Agent shall deem undesirable, or at any other time, the Escrow Agent may resign by providing written notice to the Company and until (a) the acceptance by a successor escrow agent as shall be appointed by the Company; or (b) thirty (30) days after such written notice has been given, whichever occurs sooner, the Escrow Agent’s only remaining obligation shall be to perform its duties hereunder in accordance with the terms of the Agreement.

24.    The Escrow Agent may resign at any time from its obligations under this Agreement by providing written notice to the Company.  Such resignation shall be effective on the date specified in such notice, which shall be not less than thirty (30) days after such written notice has been given.  The Escrow Agent shall have no responsibility for the appointment of a successor escrow agent.

25.    The Escrow Agent may be removed for cause by the Company by written notice to the Escrow Agent effective on the date specified in such written notice.  The removal of the Escrow Agent shall not deprive the Escrow Agent of its compensation earned prior to such removal.

26.    The Company shall provide to Escrow Agent any documentation and information reasonably requested by the Escrow Agent for it to comply with the USA PATRIOT Act of 2001, as amended from time to time.

27.    If any state securities administrator requires the Company to cause the Escrow Agent to notify such administrator when the Escrow Agent releases the funds in the Escrow Account to the Company, the Company shall notify the Escrow Agent of such requirement, and provide the Escrow Agent with the contact information for such administrator.  The Escrow Agent agrees to notify such administrator in writing when the Escrow Agent releases such funds to the Company.  The Escrow Agent agrees to permit state securities administrators to inspect the Escrow Agent’s records related to the Escrow Account at any reasonable time at the location where the records are located, and to copy any records that are inspected.

28.     The parties hereto agree that the transactions described herein may be conducted and related documents may be stored by electronic means.  Copies, telecopies, facsimiles, electronic files and other reproductions of original executed documents shall be deemed to be authentic and valid counterparts of such original documents for all purposes, including the filing of any claim, action or suit in the appropriate court of law.

[Signature page follows]

8

Agreed to as of the 26th day of February, 2014.

GRIFFIN-AMERICAN HEALTHCARE REIT III, INC.,
a Maryland corporation

By:         /s/ Jeffrey T. Hanson            
Name:      Jeffrey T. Hanson            
Title:      Chief Executive Officer            

GRIFFIN CAPITAL SECURITIES, INC.,
a California corporation

By:      /s/ Kevin Shields            
Name:      Kevin Shields                
Title:      Chief Executive Officer            

The terms and conditions contained above are hereby accepted and agreed to by:

UMB Bank, N.A., as Escrow Agent

By:    /s/ Lara Stevens    
Name:  Lara Stevens
Title:  Vice President

9

EXHIBIT A

PERMISSIBLE ESCROW INVESTMENTS

		
	(i)
	Bank accounts;

		
	(ii)
	Bank money-market accounts;

		
	(iii)
	Short time certificates of deposit issued by a bank; and

		
	(iv)
	Short-term securities issued or guaranteed by the U.S. government

EXHIBIT B

ESCROW FEES AND EXPENSES

Acceptance Fee
Review document, establish accounts, and            $1,750
Set up recon file/feeds with Transfer Agent

Quarterly Fee
Escrow Agent                            $500
Expense Reimbursement                     $350 (est)
(described in #4 below)
Transactional Fees
Outgoing Wire Transfer                        $15 each
BAI File to DST                        $2.50 per Bus Day
Wire Ripping to DST                        $10 per Bus Day
Web Exchange (online) Access                    $60 per month
Overnight Delivery/Mailings                    $16.50 each
IRS Tax Reporting (if required)                    $10 per 1099

		
	1.
	Acceptance fee will be payable at the initiation of the escrow.  

		
	2.
	Quarterly and Transactional fees will be billed quarterly in arrears.  

		
	3.
	Fees specified are for the regular, routine services contemplated by the Escrow Agreement, and any additional or extraordinary services, including, but not limited to disbursements involving a dispute or arbitration, or administration while a dispute, controversy or adverse claim is in existence, will be charged based upon time required at the then standard hourly rate. 

		
	4.
	All expenses related to the administration of the escrow account, such as overhead expenses, travel, postage, shipping, courier, telephone, facsimile, supplies, legal fees, accounting fees, etc., will be reimbursable. 

EXHIBIT C

FORM OF NOTICE TO PENNSYLVANIA SUBSCRIBERS    

Name:                            
Address:                             

Dear             :
You submitted a subscription to purchase shares of Griffin-American Healthcare REIT III, Inc. (the “Company”).  Your subscription is currently being held in escrow because the guidelines of the Pennsylvania Securities Commission do not permit the Company to accept subscriptions from Pennsylvania residents until an aggregate of $87,500,000 of gross offering proceeds have been received by the Company.  Until this minimum amount of offering proceeds is received by the Company, we are required to offer to return your money every 120 days.
If you wish to continue your subscription in escrow until the Pennsylvania minimum subscription amount is received, no further action is required.  Thank you for your continued confidence.
If you wish to terminate your subscription for the Company’s common stock and have your subscription returned, please so indicate below, sign, date, and return to Griffin-American Healthcare REIT II, Inc., c/o DST Systems, Inc., 430 W. 7th Street, Kansas City, MO 64105 or by fax to (___) ________.

*     *    *

I am a resident of Pennsylvania and I hereby terminate my prior subscription to purchase shares of common stock of Griffin-American Healthcare REIT III, Inc. and request the return of my subscription funds.

Signature:                            

Name:                              
        (please print)

Date:                              

C-1

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