Document:

Exhibit 10.6

  

AGREEMENT

 

THIS AGREEMENT
(this “Agreement”) is made and entered into as of January 19, 2011 (the “Effective Date”),
between Aellipsys Holdings, Inc., a Florida corporation having its principal place of business at 649 SW Whitmore Drive Port St.
Lucie, FL 34984 (“Aellipsys Holdings”), and 3D-ID LLC., a Florida corporation, having a principal place of business
at 1721 Winding Ridge Circle SE, Palm Bay, FL 32909 (“3D-ID”) Aellipsys Holdings and 3D-ID are collectively referred
to herein as the “Parties” and each sometimes referred to as a “Party”.

 

recitals

 

whereas,
Aellipsys Holdings has developed software as listed on Exhibit A attached hereto (the “Software”) to
be used in certain 3-D Active ID equipment (the “Equipment,” the Equipment together with the Software are referred
to as the “Product”);

 

WHEREAS, 3D-ID wishes
to obtain a license from Aellipsys Holdings to use the Software for the manufacture of the Product and to sell and distribute the
Product, and Aellipsys wishes to grant such a license to 3D-ID according to the terms and conditions set forth herein.

 

now,
therefore, in consideration of the foregoing premises and the terms and conditions herein contained, it is hereby agreed
between the Parties as follows:

 

		1.	Intellectual Property Rights.

 

		1.1.	Aellipsys Holdings License to 3D-ID.  Subject to the terms and conditions of this
Agreement and in connection with the sale of the Products, Aellipsys Holdings hereby grants to 3D-ID a perpetual sub-licensable,
non-exclusive, worldwide license to make, have made, use, sell, offer for sale and import products and to practice any method under
the Aellipsys Holdings Intellectual Property (as defined below), including but not limited to the use of the Software for the manufacture
and distribution of the Products. The “Aellipsys Holdings Intellectual Property” refers to, collectively, (i)
any patents, patent registrations, patent applications related to the Products and all improvements or enhancements derived therefrom,
of Aellipsys Holdings and including but not limited to those of GeoMetrix, Inc., (ii) all trademarks, trade secrets, know-how,
proprietary information and other intellectual property of Aellipsys Holdings (including those of GeoMetrix, Inc.) currently developed
or currently under development, or that may be developed during the term of this Agreement, by Aellipsys Holdings and/or any of
its subsidiaries that it currently owns or has transferable rights to related to the Products, including, without limitation, in
each instance, all specifications, engineering drawings, schematics, bills of materials, software source and object code and algorithms,
wiring diagrams, test procedures, assembly drawings, artwork, and other documents or files that would be required to manufacture,
test and/or improve the Products with no limitations.

 

    	 

    	 

    

 

		1.2.	Ownership of Improvements, Modifications and Additions. 3D-ID shall
solely own, all right, title and interest in and to all improvements, modifications, additions, inventions, original works of authorship,
developments, concepts, and trade secrets, whether or not patentable or registrable under copyright or similar laws, and any and
all patents issued with respect thereto, to the Equipment and Software, which 3D-ID, its affiliates, employees and/or contractors
may solely make, conceive, or develop or reduce to practice, or cause to be conceived or developed or reduced to practice, (the
“3D-ID Sole Developments”). However, such improvements will be incorporated into the Product and available to
be sold to Aellipsys consistent with section 1.4

 

		1.3.	Upgrades and Support Services. Aellipsys Holdings agrees to provide
3D-ID with any new releases and versions of the Software which include, but are not limited to bug fixes, modifications, variations,
or enhancements of the Software and which are delivered to 3D-ID pursuant to the terms of this Agreement. Such new releases or
versions provided under this section shall constitute Aellipsys Holdings Intellectual Property for purposes of the license in Section
1.1. In all circumstances, Aellipsys Holdings shall provide technical support to 3D-ID and to 3D-ID’s customer that have
purchased the Product and provide the necessary maintenance.

 

		1.4.	Sale of 3D-ID manufactured Product to Aellipsys. Aellipsys shall
have the ability to acquire the Product from 3D-ID at the lesser of; the lowest price that the Product was sold in the previous
12 months or; fully absorbed manufacturing cost of the product plus 15% profit.

 

2.     Duties of the Parties. In connection with the licenses granted hereunder, Aellipsys Holdings shall, promptly after
the Effective Date, deliver to 3D-ID all physical and intangible embodiments of the Aellipsys Holdings Intellectual Property necessary
to enable 3D-ID to manufacture and distribute the Products. Aellipsys Holdings shall provide diagrams, bills of materials, material
lists, manufacturing and assembly drawings, specifications, written instructions, and such other documentation of the Aellipsys
Holdings Intellectual Property as may be reasonably necessary and useful to 3D-ID to manufacture and distribute the Products. 3D-ID
shall use reasonable commercial efforts to manufacture and distribute the Products.

 

3.     Compensation. 3D-ID shall pay to Aellipsys Holdings a royalty for each Product manufactured by 3D-ID sold and installed
at a customer equal to two thousand dollars ($2000). In addition, 3D-ID shall pay Aellipsys Holdings an additional royalty on the
sale of the Products for any recurring revenue collected by 3D-ID or its distributors upon the sale and installation of a Product.
The additional royalty shall be ten percent (10%) of the revenue collected by 3D-ID. By way of example, if 3D-ID or its distributors
receives an amount per month for the sale and installation of the Product at a customer site, 3D-ID shall pay Aellipsys Holdings
10% of the amount collected by 3D-ID or its distributors from customer. Within thirty (30) days after the end of each calendar
quarter, until all royalties payable hereunder shall have been reported and paid, 3D-ID shall furnish to Aellipsys Holdings an
itemized statement in suitable form showing all Products manufactured and sold during such calendar quarter, and the amount of
royalty payable thereon. If no Products have been manufactured or sold, such facts shall be shown on such statement. In addition,
within thirty (30) days after the end of each calendar quarter, 3D-ID shall pay to Aellipsys Holdings the royalties payable hereunder
for such quarter.

 

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4.     Representations
and Warranties of the Parties. Aellipsys Holdings and 3D-ID hereby each represent and warrant to the other Parties that, as
of the date hereof, the following statements are true and correct:

 

4.1.     
Organization. It is a corporation duly organized and validly existing under the laws of its jurisdiction of incorporation
or organization, and has the corporate power and authority to enter into and perform this Agreement.

 

4.2.     
Authorization. All action on its part of necessary for the authorization, execution and delivery of this Agreement
to which it is a party and for the performance of all of its obligations hereunder and thereunder has been taken, and this Agreement
to which it is a party when, fully executed and delivered, shall constitute a valid, legally binding and enforceable obligation
of such Party.

 

4.3.     
Government and Other Consents. No consent, authorization, license, permit, registration or approval of, or exemption
or other action by, any governmental authority, or any other person, is required of it in connection with its execution, delivery
and performance of this Agreement, or if any such consent is required, it has satisfied the applicable requirements.

 

4.4.     
Effect of Agreement. Its execution, delivery and performance of this Agreement to which it is a party will not (i)
violate its organizational documents, (ii) violate any judgment, order, writ, injunction or decree of any court applicable to it,
(iii) have any effect on its compliance with any applicable licenses, permits or authorizations which would materially and adversely
affect such Party or its ability to perform under this, or (iv) result in the breach of, give rise to a right of termination, cancellation
or acceleration of any obligation with respect to (presently or with the passage of time), or otherwise be in conflict with any
term of, or affect the validity or enforceability of, any agreement or other commitment to which it is a party and which would
materially and adversely affect such Party or its ability to perform under this Agreement.

 

4.5.     
Litigation. There are no actions, suits or proceedings pending or, to such Party’s knowledge, threatened, against
it which question its right to enter into or perform this Agreement, or which question the validity of this Agreement.

 

5.     Additional Representations and Warranties of Aellipsys Holdings. Aellipsys Holdings hereby represents and warrants
to the other Parties that, as of the date hereof, the following statements are true and correct:

 

5.1.     
Neither Aellipsys Holdings nor any of its affiliates has previously granted, assigned, transferred, conveyed or otherwise
encumbered its right, title and interest in the Aellipsys Holdings Intellectual Property in a manner that conflicts or is inconsistent
with the rights and licenses granted to 3D-ID under this Agreement.

 

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5.2.     
To the best of Aellipsys Holdings’s knowledge, Aellipsys Holdings has all right, title and interest in and to the
Aellipsys Holdings Intellectual Property, including any data and materials provided to 3D-ID hereunder, and Aellipsys Holdings
has the right to grant the rights and licenses granted to 3D-ID hereunder.

 

5.3.     There
is no action, claim, demand, suit, proceeding, arbitration, grievance, citation, summons, subpoena, inquiry or investigation pending
or relating to or, to Aellipsys Holdings’s knowledge, threatened that the Aellipsys Holdings Intellectual Property infringes
upon the patent rights or other intellectual property rights of any third party.

 

5.4.     Any
Software included as, or embedded in a Product will function substantially in accordance with the published specifications for
a period of at least twelve (12) months.

 

		6.	Indemnification. Each Party agrees to indemnify, defend and hold each Party harmless from
and against any all costs, expenses, liabilities, losses, damages, suits, fines, penalties, claims and demands of every kind or
nature, (including reasonable attorney’s fees) (the foregoing, “Damages”) arising out of or in connection
with (i) the indemnifying party’s breach of its representations, warranties, covenants and obligations under this Agreement,
(ii) any claims for personal injuries (including death) caused by the indemnifying party or the act, omission, negligence or misconduct
of any employee, agent or representative thereof, and (iii) any damage to tangible personal or real property damage caused by the
indemnifying party or the act, omission, negligence or misconduct of any employee, agent or representative thereof.

 

		7.	Insurance. Without limiting any Party’s indemnification obligations set forth in this
Agreement, each Party shall carry and maintain in force at its own expense, at all times relevant hereto insurance of the types
and minimum coverage amounts as follows: (i) Commercial General liability Insurance with minimum limits of $1,000,000 combined
bodily injury and property damage per occurrence.

 

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		8.	Confidential Information. The Parties acknowledge that each Party hereto and its
employees, agents, affiliates or subcontractors (collectively, the “Recipient”) may be exposed to certain Confidential
Information (as defined below) of the other Parties to this Agreement (the “Disclosing Party”). Any Confidential
Information of the Disclosing Party disclosed pursuant to this Agreement may be used only for the purpose related to this Agreement.
The Recipient (i) will hold the Disclosing Party’s Confidential Information in strict confidence; (ii) will not disclose
the Confidential Information to any third party without the written consent of the Disclosing Party and will take all reasonable
steps to prevent such disclosure (which steps will include, without limitation, at least the same degree of care, but not less
than a reasonable degree of care, and security precautions that the Recipient uses to protect its own confidential information);
and (iii) will only use or disclose such Confidential Information within the Recipient’s own organization on a need-to-know
basis or to the extent required to be disclosed by the Recipient to comply with applicable laws or regulations or judicial order,
in which event the Recipient shall provide prior written notice of such mandated disclosure to the Disclosing Party and shall cooperate
with the Disclosing Party (at the Disclosing Party’s expense) in connection with any efforts thereby to prevent or limit
such disclosure. Moreover, the Recipient agrees to transmit Confidential Information only to the Recipient’s partners, directors,
officers, employees, agents, advisors, and affiliates or those of the Recipient’s affiliates only on a need-to-know basis
and who are informed by the Recipient of the confidential nature of the Confidential Information and who agree to be bound by the
terms of this section or a confidentiality agreement with terms at least as restrictive as those set forth herein. The Recipient
will be responsible for any breach of any provision of this Agreement by the Recipient’s affiliates, partners, directors,
officers, employees, agents, and advisors and those of the Recipient’s affiliates. Confidential Information will be maintained
in confidence indefinitely. Each Party shall immediately notify the other in writing of any known or perceived misappropriation
or disclosure of the Confidential Information, whether such misappropriation or disclosure is a result of a negligent or an intentional
act of the Recipient or a third party. “Confidential Information” means (i) all ideas, concepts, techniques
or know-how tending to give the Disclosing Party a commercial advantage (including, without limitation, any patentable inventions
and original works of authorship, such as computer software, customer lists, specifications, business plans, trade secrets, and
the like) and (ii) any other information labeled “CONFIDENTIAL” and provided to the Recipient by the Disclosing Party.
Confidential Information shall not include any information that: (a) Is contained in a printed publication prior to the date of
this Agreement; (b) Is or becomes publicly known through no wrongful act or failure to act on the part of the Recipient; (c) Is
known by the Recipient without any proprietary restrictions at the time of receipt of such information from the Disclosing Party
or becomes known to the Recipient without proprietary restrictions from a source other than the Disclosing Party; or (d) Is independently
developed by the Recipient without reference to the Confidential Information disclosed by the Disclosing Party. The timing and
content of any announcements, press releases or other public statements concerning this Agreement and the relationship of the Parties
hereunder will occur upon, and be determined by, mutual agreement and consent of the Parties. The foregoing notwithstanding, nothing
herein shall prohibit any Party to this Agreement from making any public disclosure regarding this Agreement and the nature and
status of the transaction contemplated herein if in the opinion of counsel to such Party such disclosure is required under applicable
laws.

	 	 	 
		9.	Term and Termination.

	 	 	 
		9.1.	Term. The term of this Agreement shall commence as of the Effective
Date and, unless and until terminated sooner as set forth below, shall continue for an initial term of five (5) years and thereafter
shall continue until either Party provides the other Party written notice at least sixty (60) days prior to the effective date
of termination.
	 	 	 

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		9.2.	Events Permitting Termination. Any Party to this Agreement shall
have the right to terminate this Agreement, effective immediately, upon written notice to the other Parties in the event any of
the following should occur: (a) A Party engages in fraudulent conduct; (b) A Party becomes insolvent; is adjudicated bankrupt;
a receiver, trustee or custodian is appointed for it; there is an assignment of a Party’s business for the benefit of creditors;
or one of the Parties liquidates or dissolves; (c) A Party fails to function as a viable and operative concern or to conduct its
operations in the normal course of business.

	 	 	 
		9.3.	Material Breach. Other than for occurrences covered by Section 9.2
hereof, a Party shall have the right to terminate this Agreement upon thirty (30) days written notice if a Party materially breaches
or fails to perform any of its obligations, representations or undertakings hereunder and fails to cure such breach or failure
within such thirty (30) day notice period.
	 	 	 

		9.4.	Losses Due to Termination. Under no circumstances shall a Party be
liable to the other Party by reason of termination of the Agreement for indemnification, compensation, reimbursement, or damages
for loss of prospective compensation, goodwill or loss thereof, or expenditures, investments, leases, or any type of commitment
made in connection with the business of such Party or in reliance on the existence of this Agreement including, but not limited
to advertising and promotion costs, costs of supplies, termination of employees, employee salaries, and other such costs and expenses.
	 	 	 

		9.5.	Licenses; Advertising Material. Upon the termination of this Agreement
for any reason, (i) all rights and licenses granted to 3D-ID hereunder immediately shall terminate subject to Section 9.6; and
(ii) each Party shall return to corresponding Party all tangible manifestations of Confidential Information of the other Party
in its possession.
	 	 	 

		9.6.	Existing Installations. As long as Aellipsys continues to receive
royalty payments on existing installations, Aellipsys will continue to support the software on these installations notwithstanding
termination of this agreement.

 

		10.	Miscellaneous.

 

10.1.   
Prior Agreements. This Agreement cancels and supersedes all prior agreements and understandings, oral or written,
entered into by and between the Parties. This Agreement, including the Exhibits appended hereto, sets forth the entire understanding
of the Parties with respect to its subject matter and may be changed or amended only by a writing signed by duly authorized officers
of all of the Parties. All captions and headings contained in this Agreement are for convenience only and are not a part of this
Agreement.

 

		10.2.	Notices. All notices under this Agreement shall be in writing and
shall be by registered or certified air mail or overnight courier or sent via facsimile to the addresses or numbers listed on the
signature page of this Agreement.

 

		10.3.	Choice of Law. The validity, interpretation, and performance of this
Agreement shall be controlled by and construed under the laws of the State of Florida, as if performed wholly within the state
and without giving effect to the principles of conflict of law.

 

		10.4.	No Waiver. No waiver of rights under this Agreement by any Party
shall constitute a subsequent waiver of this or any other right under this Agreement.

 

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		10.5.	Force Majeure. No Party shall be liable in damages or have the right
to terminate this Agreement for any delay or default in performing hereunder if such delay or default is caused by conditions beyond
its control including, but not limited to Acts of God, Government restrictions (including the denial or cancellation of any export
or other necessary license), wars, insurrections and/or any other cause beyond the reasonable control of the Party whose performance
is affected.

 

		10.6.	Assignment. Neither this Agreement nor any rights under this Agreement,
other than monies due or to become due, shall be assigned or otherwise transferred by any Party (by operation of law or otherwise)
without the prior written consent of the other Parties. Notwithstanding the foregoing, a Party shall have the right to assign this
Agreement without the other Parties’ consent to an entity that (i) acquires all or substantially all of its stock or assets,
whether by way of merger, acquisition, operation of law or otherwise, or (ii) acquires all of the related business unit engaged
in this agreement. This Agreement shall bind and inure to the benefit of the successors and permitted assigns of the Parties.

 

		10.7.	Severability. In the event that any of the terms of this Agreement
become or are declared to be illegal or otherwise unenforceable by any court of competent jurisdiction, such term(s) shall be null
and void and shall be deemed deleted from this Agreement. All remaining terms of this Agreement shall remain in full force and
effect. Notwithstanding the foregoing, if this paragraph becomes applicable and, as a result, the value of this Agreement is materially
impaired for any Party, as determined by such Party in its sole discretion, then the affected Party may terminate this Agreement
by written notice to the other.

 

		10.8.	Arbitration. IN THE EVENT OF A DISPUTE HEREUNDER WHICH CANNOT BE
RESOLVED BY THE PARTIES AMONG THEMSELVES, SUCH DISPUTE SHALL BE SETTLED BY BINDING ARBITRATION IN ACCORDANCE WITH THE COMMERCIAL
ARBITRATION RULES OF THE AMERICAN ARBITRATION ASSOCIATION AND JUDGMENT ON THE AWARD RENDERED BY THE ARBITRATION PANEL MAY BE ENTERED
IN ANY COURT OR TRIBUNAL OF COMPETENT JURISDICTION. THE PARTIES AGREE THAT ALL ARBITRATIONS OCCURRING UNDER THIS SECTION SHALL
BE HELD IN THE INITIATING PARTY’S CITY OF THEIR CHOICE. THE PARTIES AGREE THAT THE AAA OPTIONAL RULES FOR EMERGENCY MEASURES
OF PROTECTION SHALL APPLY TO THE PROCEEDINGS. THE INITIATING PARTY WILL HAVE ARBITRATION HELD IN THE CITY OF THEIR CHOICE. NOTWITHSTANDING
THE ARBITRATION PROVISIONS, IN THE EVENT OF THE NEED FOR INJUNCTIVE RELIEF BY ANY PARTY IN ORDER TO ENFORCE THE TERMS AND CONDITIONS
OF THIS AGREEMENT, ANY PARTY SHALL BE FREE TO INSTITUTE LITIGATION IN ANY APPROPRIATE FORUM TO ADDRESS THE EQUITABLE ISSUES RAISED
BY SUCH PARTY’S CONDUCT.

 

 

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IN WITNESS WHEREOF, the Parties
hereto have caused this Agreement to be duly executed. Each Party warrants and represents that its respective signatories whose
signatures appear below have been and are on the date of signature duly authorized to execute this Agreement.

 

 

Aellipsys Holdings, Inc.

 

	 	/s/ Jerome W. Rifino	 
	Name:	Jerome W. Rifino	 
	 	 	 
	Title:	President	 
	 	 	 
	Date:	January 19, 2011	 
	Address:	649 SW Whitmore Drive	 
	 	Port St. Lucie, FL 34984	 
	 	FAX: 800-403-7150	 
	 	Attention: Jerome W. Rifino	 

 

 

3D-ID Holdings, Inc.

 

	 	/s/ Gino Pereira	 
	Name:	Gino Pereira	 
	 	 	 
	Title:	Managing Partner	 
	 	 	 
	Date:	January 19, 2011	 
	Address:	1721 Winding Ridge Circle SE	 
	 	Palm Bay, FL 32909	 
	 	Attention: Gino Pereira	 

 

 

 

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EXHIBIT A

 

Software

 

		·	ActiveID for Identifier

		·	ActiveID Identifier Plus

		·	ActiveID Mugshot Capture

		·	ActiveID Verifier

		·	ActiveID Verifier Plus

 

Description of Software:

 

ActiveID Identifier

Automatic search for previously enrolled
subjects at time of enrollment. One-to-many identification software includes high-speed 3D biometric template extraction software
and FaceVision shape recognition software. Provides identification throughput of up to one million records in 30 seconds. Software
provides high-speed matching capability for confirming live probe templates to one or more enrolled templates within the database.
Automatic logging of all identification transactions.

 

ActiveID Identifier Plus

One-to-many Identification software plus
automated enrollment software that enables insertion of an unrecognized but authorized individual into the gallery database.

 

ActiveID Mugshot Capture

Allows capture of front and side profile
at time of enrollment for storage and export to mugshot system

 

ActiveID Verifier

One-to-one Verification software includes
high-speed 3D biometric template extraction software and FaceVision 3D shape recognition software. Provides verification throughput
of 7 seconds per ID and up to 8 ID requests per minute. Automatic logging of all verification transactions. Software provides high-speed
one-to-one matching capability for confirming live probe templates to one or more enrolled templates within the enrollment database.

 

ActiveID Verifier Plus

One-to-one Verification software plus identification
software that automatically performs a one-to-many identity search through the database after the one to one search is complete
to flag duplicate Ids/aliases/imposters.

 

 

 

9Exhibit 10.7

  

MEMBERSHIP
INTEREST PURCHASE AGREEMENT

This Membership Interest Purchase Agreement
(“Agreement”) is entered into as of June 25, 2012, by and among Nxt-ID, Inc. (the “Purchaser”) and 3D-ID,
LLC (the “Seller”).

RECITALS

A.               
The Seller has operated a business under the name “3D-ID” (the “Company”).

B.                
The Seller is offering for sale to the Purchaser 100 percent of the equity of the Company (as identified by the “Membership
Interests”) less certain selected liabilities associated with such business pursuant to the terms of this Agreement as described
herein.

Now,
Therefore, in consideration of the mutual premises and covenants herein, the parties, intending to be legally bound,
agree as follows:

		1.	Assumed and Excluded Assets and Liabilities

		1.1	Sale of Membership Interests.

On the terms and subject to the
conditions of this Agreement, and except as provided in Section 1.2, the Seller is hereby transfering, conveying and assigning
(or causing to be transferred, conveyed and assigned) to the Purchaser, and the Purchaser is hereby purchasing and acquiring from
the Seller, simultaneously with the execution of this Agreement, 100% of the Membership Interests of the Company, including all
of the Company’s right, title and interest in and to certain assets that are used in the Company’s business (the “Purchased
Assets”). As used herein the term “Purchased Assets” means those assets specifically identified on Schedule
1.1 hereto.

		1.2	Assumed Liabilities.

There are no assumed liabilities as part
of this Agreement.

		1.3	Excluded Liabilities.

 

The Purchaser is not assuming any other
obligations or liabilities of the Company or the Seller.

		1.4	Allocation of Taxes.

 

Not applicable.

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		2.	PURCHASE PRICE

		2.1	Purchase Price.

Upon the terms and subject to the conditions
set forth in this Agreement, the aggregate purchase price (the “Purchase Price”) paid by the Purchaser for the Membership
Interests of the Company, simultaneously with the execution of this Agreement, is TWENTY MILLION (20,000,000) SHARES OF COMMON
STOCK OF NXT-ID, INC.

		2.2	Payment of Purchase Price.

The Purchaser has paid the Cash Consideration
on the date hereof in immediately available funds. For the purposes of this Agreement, “Transactional Agreements” shall
mean: (a) this Agreement; and (b) the Bill of Sale, Assignment and Assumption Agreement in the form of Exhibit A hereto.

		3.	CLOSING

		3.1	Closing.

The closing (the “Closing”)
shall take place at the offices of Gersten Savage LLP, 600 Lexington Avenue, New York, New York 10022, on the date of, and simultaneously
with, the execution of this Agreement (such date is hereinafter referred to as the “Closing Date”).

		3.2	Effectiveness.

The transactions contemplated by this
Agreement shall be effective as of 6:00 p.m., New York Time, on the Closing Date and all references herein to the Closing Date
shall be as of such time on the Closing Date.

		3.3	Seller’s Obligations.

At the Closing, the Seller has delivered
or caused to be delivered to the Purchaser, each of the Transactional Agreements, duly executed by such party.

		3.4	The Purchaser’s Obligations.

At the Closing, the Purchaser has delivered:

(a)               
the Purchase Price; and

(b)              
the Transactional Agreements, duly executed by such party.

		3.5	Passage of Title: Risk of Loss: Delivery.

Legal and equitable title and risk
of loss with respect to Membership Interests, including all of the Purchased Assets passes to the Purchaser on transfer of such
assets at the Closing. The Seller is making available to the Purchaser all of the Purchased Assets at the Closing; provided, however,
that the expenses of retrieving, removing and transferring the Purchased Assets shall be borne exclusively by the Purchaser.

 

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		4.	Representations and Warranties of the SELLER

 

Except as specifically set forth in the
Disclosure Schedules attached to this Agreement, the Seller hereby represents and warrants to the Purchaser as follows:

		4.1	Authority; Binding Nature of Agreements.

 

The Seller has the absolute and unrestricted
right, power and authority to enter into and to perform its respective obligations under this Agreement and the other Transactional
Agreements to which it is contemplated to be a party, and the execution, delivery and performance by the Seller of this Agreement
and such Transactional Agreements have been duly authorized by all necessary action on the part of the Seller. This Agreement and
the other Transactional Agreements constitute, or upon execution and delivery will constitute, the legal, valid and binding obligations
of the Seller, enforceable against the Seller in accordance with their respective terms.

		4.2	Title to Assets; Disclaimer of Warranties.

 

In connection with the consummation
of the transactions contemplated by this Agreement, the Seller has sold, assigned, transferred and conveyed all of its right,
title and interest in and to the Purchased Assets via the sale of 100% of the Membership Interests of the Company to the Purchaser
“as is” and “where is.” The Purchaser has acquired the Membership Interests and all Purchased Assets free
and clear of all indebtedness for borrowed money any other liens, except the following: (i) mechanics’, carriers’,
worker’s and other similar liens arising in the ordinary course of business; and (ii) liens for current taxes not yet
due and payable. Except as expressly provided in this Agreement, to the fullest extent permitted by law, the Seller has not made,
and does not make, any representations or warranties whatsoever with respect to the Purchased Assets. To the fullest extent permitted
by law, the Seller expressly disclaims, releases and renounces all other warranties, obligations and liabilities, express or implied,
arising by law or otherwise, with respect to, including, but not limited to, (i) any implied warranty of merchantability or fitness
for a particular purpose; and (ii) any implied warranty arising from course of performance, course of dealing or usage of trade.

 

		5.	Representations and Warranties of the Purchaser

 

The Purchaser hereby represents and warrants
to the Seller as follows:

		5.1	Organization, Qualification.

 

The Purchaser is a Delaware corporation.
The Purchaser has all requisite corporate or other power and authority to own and operate its properties and assets, to execute
and deliver this Agreement and all other Transactional Agreements contemplated to be executed and delivered by the Purchaser, and
to carry out the provisions of this Agreement and such other Transactional Agreements, and to carry on its business as presently
conducted and as presently proposed to be conducted.

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5.2           Authority; Binding Nature of Agreements.

The Purchaser has the absolute and unrestricted
right, power and authority to enter into and to perform its respective obligations under this Agreement and the other Transactional
Agreements to which it is contemplated to be a party, and the execution, delivery and performance by the Purchaser of this Agreement
and such Transactional Agreements have been duly authorized by all necessary action on the part of the Purchaser. This Agreement
and the other Transactional Agreements constitute, or upon execution and delivery will constitute, the legal, valid and binding
obligations of the Purchaser, enforceable against the Purchaser in accordance with their respective terms.

5.3           Purchaser Acknowledgement.

The Purchaser acknowledges and agrees
that at the Closing, the Seller is selling and conveying all of its rights, title and interest in and to the Membership Interests
and Purchased Assets to the Purchaser and the Purchaser is accepting the Purchased Assets “as is, where is and with all faults,”
except as expressly stated herein. The Purchaser has not relied and will not rely on, and the Seller is not liable for or bound
by, any express or implied warranties, guarantees, statements, representations or information pertaining to the Purchased Assets
or relating thereto made or furnished by the Seller or its representatives, to whomever made or given, directly or indirectly,
orally or in writing, expect as expressly stated herein. The Purchaser also acknowledges that the purchase price of the Purchased
Assets reflects and takes into account that the Purchased Assets are being sold “as is, where is, and with all faults,”
expect as expressly stated herein. The Purchaser acknowledges to the Seller that the Purchaser has had the opportunity to conduct
prior to the Closing such inspections and investigations of the Purchased Assets as the Purchaser deems necessary or desirable
to satisfy itself as to the Purchased Assets and the Purchaser’s acquisition thereof. The Purchaser hereby assumes the risk
that adverse matters including, but not limited to, latent or patent defects, adverse physical or other adverse matters may not
have been revealed by the Purchaser’s review and inspections and investigations.

		6.	POST-CLOSING COVENANTS OF THE PARTIES

6.1           Transfer of Intellectual Property.

From and after the Closing and at the Purchaser’s
expense, the Seller shall execute all such instruments or documents and take all such other actions as the Purchaser may reasonably
request to transfer the Intellectual Property (as defined in Schedule 1.1) from the Seller to the Purchaser. Without cost
or expense to the Seller, the Seller shall cooperate with the Purchaser and any other appropriate agency in order to successfully
transfer the Intellectual Property from the Seller to the Purchaser and in the protection of the Purchaser’s right to the
Intellectual Property in the future.

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6.2           Other Transfers and Assignments.

The Seller will cooperate with
the Purchaser, at the Purchaser’s expense, in notifying any permitting agencies in connection with the transfer of any permits
that constitute Purchased Assets. The Seller has not obtained, from the other party thereto, consent to transfer or assign to the
Purchaser the agreements set forth on Schedule 6.2(a) hereof and such agreements are not being tranferred or assigned by
the Seller to the Purchaser at the Closing. The Seller agrees to cooperate with the Purchaser, at the Purchaser’s expense,
in obtaining any necessary consents to the transfer or assignment to the Purchaser of any such agreement and to assign or transfer
such agreement to the Purchaser, at the Purchaser’s expense, if and when such consent is obtained. Furthermore, the Seller
has not obtained, from the landlord thereunder, consent to transfer or assign to the Purchaser the real estate leases set forth
on Schedule 6.2(b) (the “Leases”) and such Leases are not being transferred or assigned by the Seller to the
Purchaser at the Closing. Notwithstanding the foregoing, the Seller may determine in its sole discretion to agree, on such terms
reasonably satisfactory to the Seller and at the Purchaser’s expense, to permit the Purchaser to act as the Seller’s
subcontractor under the Lease or to enter into a similar arrangement whereby in each case the Purchaser shall perform all of the
obligations of the Seller under such Lease until the landlord under the Lease provides such consent to the transfer or assignment
of the Lease or the Lease is otherwise terminated and the Purchaser is able to enter into a substitute arrangement; provided in
each case that the Purchaser holds the Seller harmless against any loss, obligation, claim, liability, settlement, payment, award,
judgment, fine, penalty, interest charge, expense, damage or deficiency or other charge (a “Loss”) arising from or
under the Lease on or after the Closing, including any breach of the Lease, any act or omission of the Purchaser or the Seller
in performing under such Lease or any failure to obtain the necessary consents to the transfer or assignment of such Lease.

6.3           Further Assurance.

Each party agrees, at the other party’s
expense, to execute such documents and render all such assistance as such party reasonably requests from time to time for the purpose
of effecting the sale of the Purchased Assets. Each party further agrees that it shall afford to the other party hereto, as may
be reasonably requested, reasonable access to the books and records of such party relating to the Purchased Assets as may be necessary
for purposes of effecting the sale of the Purchased Assets.

		7.	INDEMNIFICATION

		7.1	Indemnification by the Seller. 

The Seller shall indemnify and save harmless
the Purchaser, its successors and permitted assigns, and their shareholders, affiliates, officers, directors and agents from, against,
for and in respect of any Loss incurred or required to be paid by the Purchaser arising out of or relating to any breach of any
representation of the Seller contained in Section 4.1 or 4.2 of this Agreement.

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		7.2	Indemnification by the Purchaser.

The Purchaser shall indemnify and save
harmless the Seller, its successors and permitted assigns, and their shareholders, affiliates, officers, directors and agents from,
against, for and in respect of any Loss incurred or required to be paid by the Seller arising out of or relating to (a) any breach
of any representation of the Purchaser in this Agreement or other document delivered herewith at the Closing, (b) any failure of
the Purchaser to comply with, or any breach or nonfulfillment by the Purchaser of, any covenant, agreement or obligation of the
Purchaser set forth in this Agreement or other document delivered herewith at the Closing, or (c) any failure of the Purchaser
to timely pay, perform or discharge any Assumed Liability.

		7.3	Notice and Defense of Claims. 

(a)               
Notice. The party seeking indemnification (the “Indemnified Party”) shall give prompt written notice
to the other party to this Agreement (the “Indemnifying Party”) of any claim or event known to it which does or may
give rise to a claim by the Indemnified Party against the Indemnifying Party hereunder, stating the nature and basis of said claims
or events and the amounts thereof, to the extent known, and in the case of any claim, action, suit or proceeding brought by any
third party, a copy of any claim, process or legal pleadings with respect thereto promptly after any such documents are received
by the Indemnified Party.

(b)              
Third Party Claims or Actions. In the event any claim, action, suit or proceeding is made or brought by any third
party against a party indemnified hereunder, with respect to which the Indemnifying Party may have liability hereunder, the Indemnifying
Party shall be entitled to participate in, and, to the extent that it shall wish, to assume the defense, with independent counsel
reasonably satisfactory to the Indemnified Party.

		7.4	Cooperation. 

The parties hereto agree, at the other
party’s expense, to render to each other such assistance as they may reasonably require of each other and to cooperate in
good faith with each other in order to ensure the proper and adequate defense of any claim, action, suit or proceeding brought
by any third party.

		7.5	Limits on Indemnification Obligations. 

Notwithstanding anything herein to the
contrary, the obligations of the Seller pursuant to Section 7.1 shall be limited to an amount equal to the Purchase
Price.

		8.	Miscellaneous

		8.1	Governing Law.

This Agreement shall be construed in accordance
with, and governed in all respects by, the internal laws of the State of Delaware (without giving effect to principles of conflicts
of laws).

		8.2	Survival.

The representations, warranties, covenants
and agreements made herein or in any other Transactional Agreement of the Purchaser hereto shall survive the Closing. None of the
representations, warranties, covenants or agreements in this Agreement or in any other Transaction Agreement of the Seller shall
survive the Closing, other than those representations and warranties set forth in Sections 4.1 and 4.2 hereof and those covenants
or agreements of the Seller which by their terms apply, or are to be performed in whole or in part, after the Closing.

    	6

    	 	

    
 

		8.3	Notice.

Any notice required or permitted to be
given under this Agreement shall be in writing and shall be personally or sent by certified or registered United States mail, postage
prepaid, or sent by nationally recognized overnight express courier and addressed as follows:

(a)If to the Seller:

 

1721 Winding Ridge Circle SE

Palm Bay, FL 32909

 

(b)If to the Purchaser:

 

Nxt-ID, Inc.,

One Reservoir Corporate Centre

4 Research Drive, Suite 402

Shelton, CT 06484

 

8.4           No Assignment.

Neither this Agreement nor any of the rights,
interests or obligations hereunder shall be assigned by either party hereto (whether by operation of law or otherwise) without
the prior written consent of the other party. Subject to the preceding sentence, this Agreement will be binding upon, inure to
the benefit of, and be enforceable by, the parties and their respective successors and assigns.

		8.5	Entire Agreement.

This Agreement, the Schedules and Exhibits
hereto and the other Transactional Agreements, and the other documents delivered expressly hereby or thereby, constitute the full
and entire understanding and agreement between the parties with regard to the subjects hereof, and no party shall be liable or
bound to any other in any manner by any representations, warranties, covenants and agreements except as specifically set forth
herein and therein.

		8.6	Severability.

If any provision of this Agreement,
or application thereof, shall be held by a court of competent jurisdiction to be unenforceable, such provision shall be enforced
to the greatest extent permitted by law and the remainder of this Agreement shall remain in full force and effect.

8.7           Amendment and Waiver.

This Agreement may be amended or modified
only upon the mutual written consent of each of the parties hereto.

 

    	7

    	 	

    
 

		8.8	Counterparts.

This Agreement may be executed in any number
of counterparts, each of which shall be an original, but all of which together shall constitute one instrument.

		8.9	Section Headings and References.

The table of contents and headings in this
Agreement are for reference purposes only and shall not affect in any way the meaning or interpretation of this Agreement. References
to Sections and subsections herein shall be to Sections and subsections hereof unless otherwise specified.

 

 

 

 

 

 

    	8

    	 	

    
 

IN WITNESS WHEREOF, the parties have
duly executed or caused this Agreement to be duly executed on the date first above written.

	 	3D-ID LLC	 	 
	 	 	 	 
	 	 	 	 
	 	By: /s/ Gino Pereira	 	 
	 	     Name: Gino Pereira	 	
	 	     Title Managing Member	 	
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	Holders of Membership Interests of 3D-ID LLC
	 	 	 	 
	 	 	 	 
	 	Gino Pereira	 	60%
	 	Holder	 	% Owned
	 	 	 	 
	 	 	 	 
	 	David Tunnell	 	40%
	 	Holder	 	% Owned
	 	 	 	 
	 	 	 	 
	 	Nxt-ID, Inc.	 	 
	 	 	 	 
	 	 	 	 
	 	By: /s/ Gino Pereira	 	 
	 	     Name: Gino Pereira	 	
	 	     Title: Chief Executive Officer	 	

 

    	9

    	 	

    
 

SCHEDULE 1.1

 

Purchased Assets

The Purchased Assets consists of the
right, pursuant to those certain license agreements, to utilize the following assets:

	Patent Title	Serial/Patent/

Registration Number
	Method
and Apparatus for High Resolution Three Dimensional Display	6,064,423
	Omni-Directional Cameras	D436,612
	High
Speed Three Dimensional Imaging Method	6,028,672
	Method
and System for Three-Dimensional Imaging Using Light Pattern Having Multiple Sub-Patterns	6,700,669
	Method
And Apparatus for Omnidirectional Three Dimensional Imaging	6,744,569
	Face Recognition System and Method	7,221,809
	A System and a Method for Three-Dimensional Imaging Systems	7,349,104
	Method
and Apparatus for an Interactive Volumetric Three Dimensional Display	7,098,872
	Face Recognition System and Method	7,876,931
	Method
and Apparatus for Omni-Directional Video Surveillance System	7,940,299
	A
System and a Method for a Smart Surveillance System	7,358,498
	A
High Speed Three Dimensional Imaging Method	6,147,760
	Method
And Apparatus for Modeling Via a Three-Dimensional Image Mosaic System	6,819,318
	Method
and System for a Three Dimensional Facial Recognition System	7,804,997
	Method
and Apparatus for Omni-Directional Three-Dimensional Imaging	6,304,285
	Method and Apparatus for Generating Structural Pattern Illumination	6,937,348
	Method and apparatus for generating 3D face models from one camera	7,103,211
	Interactive try-on platform for eyeglasses	7,016,824
	Method and system for generating fully-textured 3D	6,999,073
	Method and apparatus for generating a 3D region from a surrounding imagery	6,563,499
	Generating 3D models by combining models from a video-based technique and data from a structured light source	6,529,627
	Method and apparatus for generating mesh models of 3D objects	6,529,192
	Method and apparatus for generating patches from a 3D mesh model	6,518,963
	Generating 3-D models using a manually operated structured light source	6,415,051

 

 

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EXHIBIT A

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

ii

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