Document:

curr_ex102.htm

EXHIBIT 10.2
  
 SECURED PROMISSORY NOTE FROM 
 TF TECH VENTURES, INC.
  
  
 
 	 $2,000,000
	 Oxnard, California
 July 22, 2022

 
 
  
 
 
 
 FOR VALUE RECEIVED, TF Tech Ventures, Inc., a Delaware corporation (the “Borrower”) hereby unconditionally promises to pay to the order of CURE Pharmaceutical Corp. a California corporation (the “Noteholder”), with its principal address at 5805 Sepulveda Blvd., #801, Van Nuys, CA 91411, the principal amount of $2,000,000 (the “Loan”), together with all accrued interest thereon, as provided in this Secured Promissory Note (this “Note”).
  
 1. Payment Dates.
  
 (a) Payment Date. The aggregate unpaid principal amount of the Loan, all accrued and unpaid interest, and all other amounts payable under this Note shall be due and payable on July 22, 2023 (“Maturity Date”), other than with respect to any Pending Claim Amount for which portion of the Loan the Maturity Date is extended as set forth in Section 5 below.
  
 (b) Prepayment. The Borrower may prepay the Loan in whole or in part at any time or from time to time without penalty or premium by paying the principal amount to be prepaid together with accrued interest thereon to the date of prepayment.
  
 2. Interest. 
  
 (a) Interest Rate. Except as provided in Section 2(b), principal amounts outstanding under this Note shall bear interest at a rate per annum (the “Interest Rate”) equal to 2.37%.
  
 (b) Default Interest. If any amount payable hereunder is not paid when due (without regard to any applicable grace period), whether at stated maturity, by acceleration, or otherwise, such overdue amount shall bear interest at the Interest Rate plus 2.63% (the “Default Rate”).
  
 (c) Computation of Interest. All computations of interest hereunder shall be made on the basis of a year of 365 days and the actual number of days elapsed. Interest shall begin to accrue on the Loan on the date of this Note. On any portion of the Loan that is repaid, interest shall not accrue on the date on which such payment is made.
  
 (a) Interest Rate Limitation. If at any time the Interest Rate or Default Rate, as the case may be, payable on the Loan shall exceed the maximum rate of interest permitted under applicable law, such Interest Rate or Default Rate, as the case may be, shall be reduced automatically to the maximum rate permitted.
  
  
 
 	 
	
	

	 

 
 
  
 
 
 
 3. Payment Mechanics.
  
 (a) Manner of Payment. All payments of principal and interest shall be made in US dollars on the date on which such payment is due and shall be made to Noteholder at 5805 Sepulveda Blvd., #801, Van Nuys, CA 91411, or at such other place as Noteholder may, from time to time, designate in writing. Such payments shall be made by cashier’s check, certified check, or wire transfer of immediately available funds to the Noteholder’s account at a bank specified by the Noteholder in writing to the Borrower from time to time.
  
 (b) Application of Payments. All payments shall be applied, first, to fees or charges outstanding under this Note, second, to accrued interest, and, third, to principal outstanding under this Note.
  
 (c) Business Day. Whenever any payment hereunder is due on a day that is not a Business Day, such payment shall be made on the next succeeding Business Day, and interest shall be calculated to include such extension. “Business Day” means a day other than Saturday, Sunday, or other day on which commercial banks in Los Angeles, California are authorized or required by law to close.
  
 (d) Evidence of Debt. The Borrower authorizes the Noteholder to record on the grid attached as Exhibit A the Loan made to the Borrower and the date and amount of each payment or prepayment of the Loan. The entries made by the Noteholder shall be prima facie evidence of the existence and amount of the obligations of the Borrower recorded therein in the absence of manifest error. No failure to make any such record, nor any errors in making any such records, shall affect the validity of the Borrower’s obligation to repay the unpaid principal of the Loan with interest in accordance with the terms of this Note.
  
 4. Grant of Security Interest. 
  
 (a) Borrower hereby unconditionally grants, assigns, and pledges to Noteholder to secure the Borrower’s obligations to make any payments under the terms of this Note, (the “Obligations”), a first priority continuing security interest (hereinafter referred to as the “Security Interest”) in all of Maker’s right, title, and interest in and to the following (as each such capitalized term is defined in the California Uniform Commercial Code, the “Code”) or the Purchase Agreement, as applicable), whether now owned or hereafter acquired or arising and wherever located (collectively, the “Collateral”): (i) fixed assets to the extent included in the Purchased Assets, (ii) all inventory, finished goods, raw materials, work in progress, packaging, supplies, parts and other inventories, (iii) accounts receivable (iv) all substitutions for, additions to, replacements for, improvements to, and accessions to the foregoing (i) – (iii), and (v) all of the proceeds (as such term is defined in the Code) and products, whether tangible or intangible, of any of the foregoing clauses (i), (ii), and (iv), and any and all Accounts, Books, money, or other tangible or intangible property resulting from the sale, or other disposition of any of the foregoing. Borrower hereby authorizes Noteholder to file with the California Secretary of State’s Office a UCC-1 Financing Statement with respect to Noteholder’s Security Interest in the Collateral, and to execute, acknowledge, deliver, file and record, as the case may be, with the proper filing and recording agencies in any jurisdiction, all such instruments, and take all such action as may reasonably be deemed necessary or advisable, or as reasonably requested by the Noteholder, to perfect the Security Interest granted hereunder and otherwise to carry out the intent and purposes of this Note, or for assuring and confirming to the Noteholder the grant or perfection of a perfected first priority security interest in all the Collateral under the UCC.
  
  
 
 	 
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 (b) Upon the occurrence of an Event of Default and the expiration of any applicable notice or cure periods hereunder, Noteholder, at its option, may (i) exercise any one or more of the cumulative rights and remedies hereinafter set forth and any other right or remedy provided for in this Note or available at law or in equity, and any one or more of such rights and remedies may be exercised simultaneously or successively, and the initiation or completion of any such exercise shall not constitute an election and shall not estop or prevent the pursuit of any other right or remedy; (ii) dispose of the Collateral in any manner allowed by law, in whole or in part, at one or more public or private sales, in its then condition or following any commercially reasonable action; and (iii) incur expenses, including reasonable attorneys’ fees and related costs, in the exercise of any right or remedy under or in connection with this Note, and Borrower agrees to pay or reimburse Noteholder for all such expenses and all such expenses shall become a part of the Secured Obligations hereunder. Noteholder is hereby vested with full power and authority to deliver to the purchaser or purchasers any and all of the Collateral disposed of in accordance herewith, and to execute and deliver any and all instruments or documents necessary to vest full title thereto in such purchaser or purchasers. Borrower hereby waives all demands of performance, notices of sale, advertisements and presence of the Collateral at any disposition thereof, except that Borrower shall be given thirty (30) days written notice of any disposition, which notice shall include the time and place of any public sale or the place where, and the time on or after which, any other disposition is to be made. Such sale may be conducted by an auctioneer or by any agent of Noteholder.
  
 (c) Borrower hereby waives any right to require Noteholder (i) to proceed against any other person, firm or corporation liable on, or in connection with, any of the Secured Obligations; (ii) to proceed against or exhaust the Collateral, whether now held or hereafter acquired, or any specific part thereof; or (iii) to pursue any other right or remedy within Noteholder’s power.
  
 (d) The proceeds of any disposition of all or any part of the Collateral shall be applied as follows: (i) first, to the payment of any and all reasonable expenses, including actual costs and reasonable attorneys’ fees, incurred or paid by Noteholder in enforcing this Agreement, or in obtaining possession of, dealing with or disposing of the Collateral; (ii) second, to the payment of the unpaid balance of the Loan, including accrued interest; and (iii) thereafter, any surplus shall be paid to Borrower.
  
 (e) When the unpaid balance of the Loan is paid, and all of the Secured Obligations have been fully satisfied and discharged, Noteholder shall release its Security Interest in and to the Collateral, and this Note shall terminate and be of no further force or effect. Upon the termination of this Note pursuant to this Section 4(e), Noteholder shall, at the expense of Borrower, take all actions reasonably necessary or desirable to release any security interest then existing pursuant to this Note.
  
  
 
 	 
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 5. Representations and Warranties. The Borrower represents and warrants to the Noteholder as follows:
  
 (a) Existence. The Borrower is a corporation duly incorporated, validly existing, and in good standing under the laws of the state of its organization. The Borrower has the requisite power and authority to own, lease, and operate its property, and to carry on its business.
  
 (b) Power and Authority. The Borrower has the requisite power and authority to execute, deliver, and perform its obligations under this Note.
  
 (c) Authorization; Execution and Delivery. The execution and delivery of this Note by the Borrower and the performance of its obligations hereunder have been duly authorized by all necessary corporate action in accordance with applicable law. The Borrower has duly executed and delivered this Note.
  
 6. Offset Right. This Note is being delivered by Borrower as consideration for Borrower’s purchase of certain assets of Noteholder pursuant to that certain Asset Purchase Agreement between Borrower, as purchaser, and Noteholder, as seller, dated as of the date hereof (the “Purchase Agreement”). Any terms not otherwise defined herein shall have the meaning given to such term in the Purchase Agreement. Borrower shall have the right to offset the principal amount of the Loan by the amount of any Losses finally determined to be due from Seller to any Buyer Indemnitee in accordance with the terms of Section 7.07(a) of the Purchase Agreement. If Borrower provides Noteholder with notice of an indemnification claim in accordance with the Purchase Agreement prior to the Maturity Date, then the Maturity Date will be extended with respect to the amount of such Pending Claim until the fifth (5th) Business Day following the final determination of such indemnifiable claim. For the avoidance of doubt, Buyer shall make payment on the Maturity Date of the aggregate unpaid principal amount of the Loan, all accrued and unpaid interest, and all other amounts payable under this Note minus the Pending Claim Amount, if any. Reductions to the principal amount of the Loan as provided for in this Section 6 shall be treated and reported for all federal tax purposes as adjustments to the Purchase Price, unless otherwise required by law.
  
 7. Events of Default. The occurrence and continuance of any of the following shall constitute an “Event of Default” hereunder:
  
 (a) Failure to Pay. The Borrower fails to pay (i) any principal amount of the Loan when due or (ii) any other amount due hereunder within ten (10) days after such amount is due.
  
 (b) Breach of Representations and Warranties. Any representation or warranty made by the Borrower to the Noteholder herein contains an untrue or misleading statement of a material fact as of the date made; provided, however, no Event of Default shall be deemed to have occurred pursuant to this Section 7(b) if, within thirty (30) days of the date on which the Borrower receives notice (from any source) of such untrue or misleading statement, Borrower shall have addressed the adverse effects of such untrue or misleading statement to the reasonable satisfaction of the Noteholder.
  
  
 
 	 
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 (c) Bankruptcy; Insolvency.
  
 (i) The Borrower institutes a voluntary case seeking relief under any law relating to bankruptcy, insolvency, reorganization, or other relief for debtors.
  
 (ii) An involuntary case is commenced seeking the liquidation or reorganization of the Borrower under any law relating to bankruptcy or insolvency, and such case is not dismissed or vacated within sixty (60) days of its filing.
  
 (iii) The Borrower makes a general assignment for the benefit of its creditors.
  
 (iv) A case is commenced against the Borrower or its assets seeking attachment, execution, or similar process against all or a substantial part of its assets, and such case is not dismissed or vacated within sixty (60) days of its filing.
  
 8. Notice of Event of Default. As soon as possible after it becomes aware that an Event of Default has occurred, and in any event within two (2) Business Days, the Borrower shall notify the Noteholder in writing of the nature and extent of such Event of Default and the action, if any, it has taken or proposes to take with respect to such Event of Default.
  
 9. Remedies. Upon the occurrence and during the continuance of an Event of Default, the Noteholder may, at its option, by written notice to the Borrower declare the outstanding principal amount of the Loan, accrued and unpaid interest thereon, and all other amounts payable hereunder immediately due and payable and shall have all the rights and remedies available to it under this Note and the Security Agreement.
  
 10. Expenses. The Borrower shall reimburse the Noteholder on demand for all reasonable and documented out-of-pocket costs, expenses, and fees, including the reasonable fees and expenses of counsel, incurred by the Noteholder in connection with the enforcement of the Noteholder’s rights hereunder.
  
  
 
 	 
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 11. Notices. All notices and other communications relating to this Note shall be in writing and shall be deemed given upon the first to occur of (x) deposit with the United States Postal Service or overnight courier service, properly addressed and postage prepaid; (y) transmittal by facsimile or e-mail properly addressed (with confirmation of transmission); or (z) actual receipt by an employee or agent of the other party. Notices hereunder shall be sent to the following addresses, or to such other address as such party shall specify in writing:
  
  
 
 	 If to Seller:
	 5805 Sepulveda Blvd., #801
 Van Nuys, CA 91411
 E-mail: nancy@theseralabs.com
 Attention: CEO of The Sera Labs, Inc.

	 with a copy to:
	 Stradling Yocca Carlson & Rauth
 3075 Townsgate Road, Suite 330
 Westlake Village, CA 91361
 Attention: Brent Reinke
 Email: breinke@stradlinglaw.com
 Facsimile: (805) 730-6825

	 If to Buyer:
	 TF Tech Ventures, Inc.
 4000 N. Federal Highway, Suite 216
 Boca Raton, FL 33431 
 Facsimile: ____________________
 E-mail: capreston92@gmail.com
 Attention: CA Preston, CEO

	 with a copy to:
	 K&L Gates LLP
 4 Embarcadero Center, Suite 1200
 San Francisco, CA 94111
 Facsimile: 415-882-8220
 E-mail: alidad.vakili@klgates.com
 Attention: Alidad Vakili

 
 
  
 
 
 
 12. Governing Law. This Note and any claim, controversy, dispute, or cause of action (whether in contract, tort, or otherwise) based on, arising out of, or relating to this Note and the transactions contemplated hereby shall be governed by and construed in accordance with the laws of the State of California.
  
 13. Disputes.
  
 (a) Submission to Jurisdiction. 
  
 (i) The Borrower irrevocably and unconditionally (A) agrees that any action, suit, or proceeding arising from or relating to this Note may be brought in the courts of the State of California sitting in Ventura County, and in the United States District Court for the Central District of California, and (B) submits to the jurisdiction of such courts in any such action, suit, or proceeding. Final judgment against the Borrower in any such action, suit, or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by law.
  
 (ii) Nothing in this Section 13(a) shall affect the right of the Noteholder to bring any action, suit, or proceeding relating to this Note against the Borrower or its properties in the courts of any other jurisdiction.
  
 (iii) Nothing in this Section 13(a) shall affect the right of the Noteholder to serve process upon the Borrower in any manner authorized by the laws of any such jurisdiction.
  
 (b) Venue. The Borrower irrevocably and unconditionally waives, to the fullest extent permitted by law, (i) any objection that it may now or hereafter have to the laying of venue in any action, suit, or proceeding relating to this Note in any court referred to in Section 13(a), and (ii) the defense of inconvenient forum to the maintenance of such action, suit, or proceeding in any such court.
  
  
 
 	 
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 (c) Waiver of Jury Trial. THE BORROWER HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY RELATING TO THIS NOTE OR THE TRANSACTIONS CONTEMPLATED HEREBY, WHETHER BASED ON CONTRACT, TORT, OR ANY OTHER THEORY.
  
 14. Successors and Assigns. This Note may not be assigned or transferred by the Noteholder without the prior written consent of the Borrower in its sole discretion.
  
 15. Integration. This Note constitutes the entire contract between the Borrower and the Noteholder with respect to the subject matter hereof and supersedes all previous agreements and understandings, oral or written, with respect thereto.
  
 16. Amendments and Waivers. No term of this Note may be waived, modified, or amended, except by an instrument in writing signed by the Borrower and the Noteholder. Any waiver of the terms hereof shall be effective only in the specific instance and for the specific purpose given.
  
 17. No Waiver; Cumulative Remedies. No failure by the Noteholder to exercise and no delay in exercising any right, remedy, or power hereunder shall operate as a waiver thereof; nor shall any single or partial exercise of any right, remedy, or power hereunder preclude any other or further exercise thereof or the exercise of any other right, remedy, or power. The rights, remedies, and powers herein provided are cumulative and not exclusive of any other rights, remedies, or powers provided by law.
  
 18. Severability. If any term or provision of this Note is invalid, illegal, or unenforceable in any jurisdiction, such invalidity, illegality, or unenforceability shall not affect any other term or provision of this Note or render such term or provision invalid or unenforceable in any other jurisdiction.
  
 19. Counterparts. This Note and any amendments, waivers, consents, or supplements hereto may be executed in counterparts, each of which shall constitute an original, but all of which taken together shall constitute a single contract. Delivery of an executed counterpart of a signature page to this Note by facsimile or in electronic (“pdf” or “tif”) format shall be as effective as delivery of a manually executed counterpart of this Note.
  
 20. Electronic Execution. The words “execution,” “signed,” “signature,” and words of similar import in this Note shall be deemed to include electronic and digital signatures and the keeping of records in electronic form, each of which shall be of the same effect, validity, and enforceability as manually executed signatures and paper-based recordkeeping systems, to the extent and as provided for under applicable law, including the Electronic Signatures in Global and National Commerce Act of 2000 (15 U.S.C. § 7001 et seq.) and any other similar state laws based on the Uniform Electronic Transactions Act.
  
 [signature page follows]
  
  
 
 	 
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 IN WITNESS WHEREOF, the Borrower has executed this Note as of July 22, 2022.
  
  
 
 	  
	 	  
	 BORROWER:
	
	  
	  
	  
	  
	  

	  
	  
	  
	 TF Tech Ventures, Inc.
	  

	  
	 	  
	 	 	 
	  
		  
	By:	/s/ C.A. Preston	
	  
	  
	  
	  
	Name: C.A. Preston	 
	  
	 	  
	 	Title: CEO & President	 
	  
	 	  
	 	 	 
	  
	 ACKNOWLEDGED AND ACCEPTED BY: 
	  
	  
	  
	  

	  
	  
	  
	  
	  
	  

	  
	 NOTEHOLDER:
	  
	  
	  
	  

	  
	  
	  
	  
	  
	  

	  
	 CURE Pharmaceutical Corporation
	  
	  
	  
	  

	  
	  
	  
	  
	  
	  

	 By
	 /s/ Rob Davidson
	  
	  
	  
	  

	  
	 Name: Rob Davidson
	  
	  
	  
	  

	  
	 Title: CEO
	  
	  
	  
	  

 
 
  
 
 
  
  
 
 	 
	8curr_ex103.htm

EXHIBIT 10.3
  
 July 22, 2022
  
 TF Tech Ventures, Inc.
 4000 N. Federal Highway, Suite 216
 Boca Raton, FL 33431 
  
 Re: Asset Purchase 
  
 Ladies and Gentlemen:
  
 This letter confirms the agreement (this “Agreement”), entered into as of July 22, 2022, by and between CURE Pharmaceutical Holding Corp., a Delaware corporation (“Parent”) and TF Tech Ventures, Inc., a Delaware corporation (“Buyer”), in consideration of Buyer’s purchase of certain assets of CURE Pharmaceutical Corporation, a California corporation and wholly-owned subsidiary of Parent (“Seller”) pursuant to that certain Asset Purchase Agreement, dated as of the date hereof, by and between Buyer and Seller (the “APA”). Capitalized terms used herein but not defined herein will have the meaning ascribed thereto in the APA. 
  
 WHEREAS, concurrently herewith, Seller and Buyer are entering into the APA, pursuant to which Buyer is purchasing the Purchased Assets from Seller, and Parent will directly or indirectly obtain substantial benefit from the consummation of the transactions contemplated by the Purchase Agreement; and
  
 WHEREAS, Parent’s execution and delivery of this Agreement is a condition to the obligation of Buyer to consummate the transactions contemplated by the Purchase Agreement. 
  
 NOW, THEREFORE, in consideration of the mutual covenants, terms, and conditions set forth herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows:
  
 1. Representations and Warranties.
  
 Parent represents and warrants to and for the benefit of Buyer as follows:
  
 a. Organization and Authority of Parent; Enforceability. Parent is a corporation duly organized, validly existing and in good standing under the laws of the state of Delaware. Parent has full corporate power and authority to enter into this Agreement and the other documents to be entered into by Parent and delivered under the APA, to carry out its obligations thereunder and to consummate the transactions contemplated thereby. The execution, delivery and performance by Parent of this Agreement and the documents to be entered into by Parent and delivered under the APA and the consummation of the transactions contemplated thereby have been duly authorized by all requisite corporate action on the part of Parent. This Agreement and the documents to be entered into by Parent and delivered under the APA have been duly executed and delivered by Parent, and (assuming due authorization, execution and delivery by Buyer) this Agreement and the documents to be entered into by Parent and delivered under the APA constitute legal, valid and binding obligations of Parent, enforceable against Parent in accordance with their respective terms.
  
  
 
 
 
 
 	 
	
	

	 

 
 
  
 
 
 
 
 
 
 
 
 
 b. No Conflicts; Consents. The execution, delivery and performance by Parent of this Agreement and the documents to be entered into by Parent and delivered under the APA, and the consummation of the transactions contemplated thereby, do not and will not: (a) violate or conflict with the certificate of incorporation, by-laws or other organizational documents of Parent; (b) violate or conflict with any judgment, order, decree, statute, law, ordinance, rule or regulation applicable to Parent. No consent, approval, waiver or authorization is required to be obtained by Parent from any Governmental Authority in connection with the execution, delivery and performance by Parent of this Agreement and the consummation of the transactions contemplated under the APA.
  
 c. Legal Proceedings. There is no Action of any nature pending or threatened against or by Parent (a) with respect to the execution, delivery and performance by Parent of this Agreement and the documents to be entered into by Parent and delivered under the APA, or the consummation of the transactions contemplated thereby; or (b) that challenges or seeks to prevent, enjoin or otherwise delay the transactions contemplated by this Agreement and the APA. No event has occurred or circumstances exist that may give rise to, or serve as a basis for, any such Action.
  
 d. Brokers. No broker, finder or investment banker is entitled to any brokerage, finder’s or other fee or commission in connection with the transactions contemplated by this Agreement and the APA based upon arrangements made by or on behalf of Parent.
  
 2. Interest in Intellectual Property; Use of Names.
  
 a. As soon as reasonably practicable after the Closing Date, but in any event within the Transitional Period, Parent shall, and shall cause its Affiliates to, cease and discontinue all uses of any Purchased Marks, except as provided in this Agreement, the Transition Services Agreement, the APA and the Trademark License Agreement including by (i) changing the corporate and business names and trade names of Seller, Parent and their Affiliates to a name that does not include any Purchased Mark and is not confusingly similar thereto and otherwise cease to refer to themselves as or do business under, any Purchased Mark or any name that includes any Purchased Mark, (ii) not putting into use any items or materials that bear any Purchased Mark; (iii) not using any websites or domain names that include any reference to any Purchased Mark, except as expressly contemplated in the APA, (iv) removing or obliterating any Purchased Mark from any and all exterior signs and other identifiers located on or attached to any property, buildings, vehicles, signs or premises used in connection with the Business, and (v) ceasing to use all Business Materials. Seller, Parent, and their Affiliates (A) shall use the Purchased Marks during the Transitional Period only in the same form and manner as they were used in the Business immediately prior to the Closing, (B) shall not modify the Purchased Marks or any Business Materials containing the Purchased Marks in any respect and (C) at Buyer’s reasonable request, shall provide appropriate documentation to confirm compliance with the foregoing. Seller, Parent, and their Affiliates agree that all goodwill arising from any use of the Purchased Marks by Seller, Parent, or any of their Affiliates will inure solely to the benefit of Buyer and its Affiliates. Notwithstanding anything to the contrary in this Agreement, nothing in this Agreement or the APA shall restrict Parent and its Affiliates’ (i) sale, promotion, marketing, or advertising of their inventory that was in their possession prior to Closing and remains in their possession after Closing that bears the Purchased Mark “Powered By Cure”, or (ii) use of packaging that was in their possession prior to Closing and remains in their possession after Closing that bears the Purchased Mark “Powered By Cure” on future products that they might purchase form Buyer in accordance with the relevant terms of such purchase(s).
  
  
 
 
 
 
 	 
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 b. No later than 60 days following the Closing Date, Parent and its Affiliates shall have arranged for new website domains to host websites of Parent and its Affiliates, which domains shall not include any reference to Purchased Marks. No later than 60 days following the Closing Date, Parent and its Affiliates shall operate its websites solely through such new website domain names (and any other domain names created after the Closing that does not include reference to any Purchased Marks); provided that notwithstanding the foregoing, domains with reference to Purchased Marks may remain active for 180 days after the Closing solely for the purpose of redirecting users to the new websites of Parent and its Affiliates.
  
 3. Covenant Not to Sue.
  
 a. Parent represents that it possesses all or joint right, title, and interest in and to the patents listed in Schedule A attached hereto (the “Referenced Patents”). Parent further represents that as of the date of this Agreement, other than the patents listed on Schedule A of this Agreement and the Registered Intellectual Property listed on Section 1.01 of the APA, neither Parent nor Seller owns any other any Intellectual Property that is the subject of an application or registration with any governmental authority, including any domain name registration and any application or registration for any patent, copyright, mask work or trademark.
  
 b. Parent unconditionally agrees, promises, and covenants that it will not sue or otherwise enforce the Referenced Patents against Buyer, its parents, subsidiaries, affiliates, or successor companies in connection with Buyer’s conduct of the Business.
  
 c. Based on the foregoing representations and subject to the conditions set forth herein, Parent unconditionally agrees, promises, and covenants not to sue or otherwise hold liable Buyer, its parents, subsidiaries, affiliates, or successor companies or their authorized contractors, distributors, and customers, for any and all claims that the manufacture, use, license, sublicense, sale, offer for sale, distribution, and/or importation or exportation of a product in the operation of the Business, strictly by or on behalf of, or as authorized by Buyer (or its parents, subsidiaries, affiliates, or successor-in-interest), infringes any claim of the Referenced Patents.
  
  
 
 
 
 
 	 
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 d. Parent also unconditionally agrees, promises, and covenants that it will not sue or otherwise enforce the Referenced Patents against Buyer’s customers, suppliers, importers, manufacturers, licensees, distributors, or insurers in connection with the manufacture, use, license, sublicense, sale, offer for sale, or importation or exportation of Buyer’s products in the operation of the Business.
  
 e. This Agreement and the covenant not to sue set forth herein expressly includes any future assignees, licensees, or successors-in-interest to the Referenced Patents, such that those entities may not sue or otherwise enforce the Referenced Patents against Buyer, its parents, subsidiaries, affiliates, or successors, or Buyer’s customers, suppliers, importers, manufacturers, distributors, or insurers in connection with the manufacture, use, offer for sale, sale, distribution, or importation of the products in the operation of the Business. Buyer further promises to impose the covenant not to sue contained in this Agreement on any assignees, licensees, or successors-in-interest to the Referenced Patents.
  
 f. This Agreement and the covenant not to sue set forth herein expressly includes any successor or assignee of Buyer or any Buyer parent, subsidiaries, affiliates, or successors-in-interest that subsequently purchases substantially all of the assets of either Buyer or any Buyer parent, subsidiary, affiliate, or successor in interest and any entity that subsequently purchases Buyer’s drug products in the operation of the Business.
  
 g. The parties hereto agree that this Agreement and the covenant not to sue set forth herein shall not operate as a waiver or admission of any fact not set forth herein.
  
 h. In the event that Buyer or any of its Affiliates acquires (whether through merger, stock acquisition, asset acquisition or otherwise) any entity, product, product line or technology after the Closing Date, the releases, licenses and covenants granted by Parent hereunder shall in no event apply to any such products, services, or technology of such entity or included within such products, product lines or technology, including with respect to the post-acquisition manufacture, sale, use or other exploitation of such products, services, technology or product lines by Buyer and its Affiliates.
  
 4. Miscellaneous.
  
 a. General Provisions. Section 9.02 (Notices), Section 9.04 (Severability), Section 9.05 (Entire Agreement), Section 9.06 (Successors and Assigns), Section 9.08 (Amendment and Modification), Section 9.09 (Waiver), Section 9.10 (Governing Law), Section 9.11 (Submission to Jurisdiction), Section 9.12 (Waiver of Jury Trial), Section 9.13 (Specific Performance), and Section 9.14 (Counterparts) of the Purchase Agreement are each hereby incorporated by reference mutatis mutandis; provided, that Parent’s notice information is set forth below its signature on the signature page hereto.
  
 b. Attorney’s Fees. In the event any party breaches any of the terms of this Agreement and the Party not in default employs attorneys to protect or enforce its rights hereunder and prevails, then the defaulting party agrees to pay reasonable attorney’s fees and costs incurred by the prevailing party.
  
 Signature page follows
  
  
 
 
 
 
 	 
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 IN WITNESS WHEREOF, the parties hereto have executed this letter agreement as of the date first above written.
  
  
  
 
 
 
 
 	  
	  
	  
	 Very truly yours,
	  

	  
	  
	  
	  
	  

	  
	 	  
	CURE Pharmaceutical Holding Corp. 	
	  
	 	  
	 	 	 
	  
		  
	By:	/s/ Robert Davidson	
	  
	  
	  
	 Name:
	 Robert Davidson
	 
	  
	 	  
	Title:	 CEO
	 
	  
	  
	  
	  
	  
	  

	  
	 	  
	 Address for Notices: 
	 
	  
	  
	  
	 5805 Sepulveda Blvd., #801
	  

	  
	  
	  
	 Van Nuys, CA 91411
	  

	  
	  
	  
	 E-Mail: rdavidson@curepharma.com
	  

	  
	  
	  
	  
	  

	 AGREED AND ACCEPTED:
	  
	  
	  

	  
	  
	  
	  

	 TF TECH VENTURES, INC.
	  
	  
	  

	  
	  
	  
	  
	  

	 By
	 /s/ C.A. Preston
	  
	  
	  

	  
	 Name: C.A. Preston
	  
	  
	  

	  
	 Title: CEO & President
	  
	  
	  

 
 
  
 
 
 
 
 
 
 
 
   
  
 
 
 
 
 	 
	5
	

	 

 
 
  
 
 
 
 
 
 
 
 
 
 Schedule A
  
 Referenced Patents
  
  
 
 
 
 
 	 PATENTS

	 Title
	 Serial No.
	 Filing Date
	 Status
	 Patent No.
 (Issue Date)

	 Oral dissolvable film that includes plant extract
  
	 14/810,595
  
	 07/28/2015
  
	 Issued
  
	 U.S. 10,307,397 
  
 (06/04/2019)
  

	 Oral dissolvable film that includes plant extract
	 16/394,413
	 04/25/2019
	 Issued
	 U.S. 11,266,625 (03/08/2022)
  

	 Oral dissolvable film containing psychedelic compound
  
	 16/947,005
  
	 07/14/2020
  
	 Pending
  
	 N/A
  

	 Oral soft gel capsule containing psychedelic compound
  
	 16/947,003
  
	 07/14/2020
  
	 Pending
  
	 N/A
  

	 Pharmaceutical composition and method of manufacturing
  
	 14/255,296
  
	 04/17/2014
  
	 Issued
  
	 U.S. 9,044,390 (06/02/2015)
  

	 Pharmaceutical composition and method of manufacturing
  
	 14/723,980
  
	 05/28/2015
  
	 Issued
  
	 U.S. 9,186,386 (11/17/2015)
  

	 Pharmaceutical composition and method of manufacturing
  
	 14/694,303
  
	 04/23/2015
  
	 Issued
  
	 US 9,980,996 (05/29/2018)
  

	 Pharmaceutical composition and method of manufacturing
  
	 15/988,484
  
	 05/24/2018
  
	 Issued
  
	 U.S. 10,092,611 (10/09/2018)
  

	 Pharmaceutical composition and method of manufacturing
  
	 14/934,940
  
	 11/06/2015
  
	 Issued
  
	 US 10,238,705 (03/26/2019)
  

	 Pharmaceutical composition and method of manufacturing
	 16/151,436
	 10/04/2018
	 Issued
	 U.S. 10,639,339 (05/05/2020)
  

	 Pharmaceutical composition and method of manufacturing
  
	 16/359,579
  
	 03/20/2019
  
	 Issued
  
	 U.S. 10,624,940 (04/21/2020)
  

	 Pharmaceutical composition and method of manufacturing
  
	 16/809,958
  
	 03/05/2020
  
	 Issued
  
	 11,266,702 (03/08/2022)
  

	 Pharmaceutical composition and method of manufacturing
  
	 16/809,700
  
	 03/05/2020
  
	 Allowed
  
	  
  

	 Pharmaceutical composition and method of manufacturing
  
	 16/856,492
  
	 04/23/2020
  
	 Issued
  
	 U.S. 11,344,591
  
 (05/11/2022)
  

	 Pharmaceutical composition and method of manufacturing
  
	 16/856,609
  
	 04/23/2020
  
	 Issued
  
	 U.S. 11,331,358 (05/17/2022)
  

 
 
  
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 	 
	6

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