Document:

World Moto Co., Ltd. - Exhibit 10.1 - Filed by newsfilecorp.com

PURCHASE AND LICENSING AGREEMENT

THIS AGREEMENT is made this 2nd day of December 2013, by and
between World Moto Co., Ltd., a wholly owned Thailand based subsidiary of World
Moto Inc., with its principal place of business located at Pathumthani, Thailand
(the "Company") and Mobile Advertising Ventures Ltd., a Thailand limited company
with its principal place of business located at Bangkok, Thailand (the
"Purchaser") together the Parties (“Parties”). 

WHEREAS: 

	 	A. 	
      World Moto has developed a product called the Wheelies
      which displays static and streaming media content on the wheels of
      motorcycles and automobiles providing a unique mobile medium for
      advertising, broadcasting, self-expression and publishing; and.

	 	 	 
	 	B. 	
      Mobile Advertising Ventures has expressed an interest in
      buying a specific number of Wheelies and licensing the associated software
      so that it may procure third party advertising revenues on a non exclusive
      basis in the greater Bangkok Metropolitan Area.

	 	 	 
	 	C. 	
      Both Parties recognize that each other provides key
      components to operate a successful advertising business in the
      aforementioned geographic region.

	 	 	 
	 	D. 	
      The parties have agreed to enter into this Agreement on
      the terms and conditions set forth in this
Agreement.

NOW THEREFORE THIS AGREEMENT WITNESSES that, in
consideration of the mutual covenants and agreements, the Parties agree as
follows: 

I 
PURCHASE AND LICENSE AGREEMENT 

	 	1. 	
      Sale. The Company hereby sells to the Purchaser
      the Wheelies Preview Product ("Wheelie") under the following terms and
      conditions:

	 	 	 	 	 
	 		a. 	
      Ten (10) Wheelies Preview Product wheels at a total price
      of $35,000.00 USD exclusive of 7% Thailand VAT, the 10 wheels to be
      delivered to the Purchaser on or before December 31, 2013

	 	 	 	 	 
	 		b. 	
      An option for the Purchaser to acquire up to one hundred
      and ninety (190) Wheelies at a price of $3500.00 per unit exclusive of 7%
      Thailand VAT on or before December 31, 2014

	 	 	 	 	 
	 	2. 	
      Software Licensing: The Company hereby licenses to
      the Purchaser the software to operate the Wheelies and Wheelies Preview
      Product ("Wheelie Software") for third party advertising and promotion
      under the following terms and conditions:

	 	 	 	 	 
	 		a. 	
      The purchaser has the non exclusive right for advertising
      in the following localities:

	 			i. 	
      Greater Bangkok Metropolitan area, including Bangkok,
      Pathumthani, Samut Prakan, Nonthaburi, Nakhon Pathom and Samut Sakhon
      provinces.

	 		b. 	
      All advertising rates and revenues are to be calculated
      in the market currency of the relevant locality and converted into USD at
      the prevailing market rate on the final day of the quarter as determined
      by the following authorities:

	 			i. 	
      Greater Bangkok Metropolitan area – Published TT buying
      rate from Bangkok Bank

	 		c. 	
      The Purchaser shall pay the Company a fee based on net
      revenue from advertising sales as defined in the table in Annex
  1.

	 	3. 	
      Prices (Wheelies). All prices stated are FOB the
      Company's offices in Thailand. Payment should be made to World Moto Co.,
      Ltd. Prices do not include transportation costs which shall be borne by
      Purchaser. Prices do not include applicable taxes and fees for the
      products sold under this Agreement, except where specifically required by
      law and noted as such in this agreement. Terms are net cash upon delivery,
      except where satisfactory credit is established in which case terms are
      net thirty (30) days from date of delivery. The Company reserves the right
      to revoke any credit extended at the Company's sole discretion. Purchaser
      agrees to pay such invoices when due regardless of other scheduled
      deliveries. Invoices not paid within thirty (30) days of the invoice date
      will have one and one half percent (1-1/2%), or the maximum amount allowed
      under applicable laws, whichever is lower, per month finance charge
      assessed against the unpaid balance from the date of invoice until the
      date of payment.

	 	 	 	 
	 	4. 	
      Payment Terms (Software Licensing)

	 	 	 	 
	 		a. 	
      Purchaser shall pay Company on a quarterly basis on the
      twenty first (21st) day of the month following the last day of
      the quarter for all commissions collected under the terms of this
      Agreement in the quarter prior, subject to any adjustments or
      reconciliation payments required from time to time pursuant to this
      Agreement.

	 	 	 	 
	 		b. 	
      Books and Records – Purchaser will issue a quarterly
      statement detailing the calculation of revenues to accompany each payment
      period. Upon reasonable notice of not less than 10 days, Company may, at
      its expense, inspect such books of account and records. If an inspection
      determines that Purchaser has not paid the correct amounts due, then the
      parties will make the necessary adjusting payment within 14 calendar days
      after such determination. If Purchaser has underpaid the correct amount
      due by more than 5%, then Purchaser will bear the cost of the
      inspection.

	 	 	 	 
	 		c. 	
      Interest on Overdue Payments – Overdue interest is set at
      the rate of 0.5% per month, compounded monthly, on all payments of funds
      due and owing to Company under this Agreement and which have become
      overdue. Interest will accrue at the aforesaid rate on a daily basis until
      the outstanding payments have been made.

	 	 	 	 
	 		d. 	
      Partiesduties and other governmental charges, however
      labeled, (collectively, “Taxes”) that are imposed by any lawful authority
      in connection with this Agreement.

II 
PROPRIETARY RIGHTS 

	 	1. 	
      Ownership of Trademarks, Patents and Copyrights.
      Purchaser hereby acknowledges the Company's exclusive right, title and
      interest in and to any and all trademarks and trade names (hereinafter
      such trademarks and trade names shall be collectively referred to as the
      “Trademarks”), patents (“Patents”) and copyrights (“Copyrights”) which the
      Company may have at any time adopted, used, registered or been issued in
      the United States, Thailand or in any other location, and Purchaser agrees
      that it shall not do, or cause to be done, any acts or things contesting
      or in any way impairing or tending to impair any portion of Company’s
      right, title and interest in and to the Trademarks, Patents and
      Copyrights. Purchaser further acknowledges that, in connection with any
      reference to the Trademarks, Patents and Copyrights, Purchaser shall not
      in any manner represent that it possesses any ownership interest in the
      Trademarks, Patents and Copyrights or the registration thereof, nor shall
      any action taken by Purchaser or on Purchaser’s behalf create in
      Purchaser’s favor any right, title or interest in and to the Trademarks,
      Patents and Copyrights.

	 	2. 	
      Copyright Protection. Purchaser acknowledges the
      validity of the Copyrights in any and all written material and/or
      packaging to which the Company has filed a claim for copyright protection.
      Additionally, Purchaser recognizes the Company’s exclusive right to seek
      copyright protection for and/or the registration of copyright of any
      translation of any and all sales literature, promotional or descriptive
      material furnished to Purchaser by Company.

	 	 	 
	 	3. 	
      Patent Protection. Purchaser acknowledges the
      validity of the Patents in the Products and in any and all other products
      or items which have been patented by the Company. Additionally, Purchaser
      recognizes Company’s exclusive right to apply for a patent for any new
      products which may subsequently automatically be covered by this
      Agreement.

	 	 	 
	 	4. 	
      Prominence of Trademarks, Patents and Copyrights.
      Purchaser agrees to give due prominence to the fact that the
      Trademarks, Patents and Copyrights are the property of Company and in the
      event that Purchaser refers to the Trademarks, Patents and Copyrights in
      advertising, promoting or in any other manner so as to identify the
      Products, Purchaser shall clearly indicate Company’s ownership of the
      Trademarks, Patents and Copyrights. Purchaser further agrees that before
      distributing or publishing any sales literature, promotional or
      descriptive materials, Company has the right to inspect and approve of
      such materials and the Purchaser shall provide Company with an opportunity
      to inspect and approve such materials.

	 	 	 
	 	5. 	
      Compliance with Laws. Purchaser agrees that, when
      referring to the Trademarks, Patents and Copyrights, it will comply with
      any and all applicable federal and provincial laws and regulations
      pertaining to the Trademarks, Patents and Copyrights or trademarks, trade
      names, patents or copyrights in general. Purchaser further agrees to
      comply with any and all marketing requirements pertaining to the
      Trademarks, Patents or Copyrights or trademarks, trade names, patents and
      copyrights in general.

	 	 	 
	 	6. 	
      Notification of Violations. Purchaser shall
      promptly notify the Company, in writing, of any and all infringements,
      imitations, illegal use or misuse of the Trademarks, Patents and/or
      Copyrights which shall come to Purchaser’s attention. Purchaser further
      agrees that it shall not at any time take any action in and before any
      courts, administrative agencies, or other such tribunals, or otherwise
      attempt to prevent the infringement, imitation, illegal use or misuse of
      the Trademarks, Patents and/or Copyrights. Purchaser understands that such
      action falls wholly within the authority of Company as the sole owner of
      the Trademarks, Patents and Copyrights.

	 	 	 
	 	7. 	
      Assistance in the Protection of the Trademarks,
      Patents and Copyrights. Purchaser agrees to render to Company any and
      all assistance requested of it by Company in connection with the
      protection of the Trademarks, Patents and/or Copyrights, whether such
      protection is sought in and before any courts, administrative agencies or
      other such tribunals, and to make promptly available to Company the
      Purchaser’s representatives, employees, officers, directors, attorneys,
      agents and sub-Purchasers, any files, records, and any other information
      it possesses or to which it has access which may be of use or valid to
      Company in such connection.

III 
WARRANTY 

	 	1. 	
      Equipment Warranty. Company warrants that
      Purchaser shall acquire Equipment purchased hereunder free and clear of
      all liens and encumbrances except for Company's purchase money security
      interest defined in Articles I, 4, above. Company further warrants all
      Equipment to be free from defects in material or workmanship under normal
      use and service for a period of [e.g., three hundred sixty (360) days]
      from the date of delivery. All repair covered by this warranty must be
      done at Company's factory, or other such warranty repair facilities of
      Company as designated by Company unless Company specifically directs that
      this service be performed at another location. Any defect corrected within
      three hundred sixty (360) days and found to be within this scope of the
      warranty will be repaired by Company and all charges for labor and
      material, will be borne by Company. If it is determined that either no
      fault exists in Company, or the damage to be repaired was caused by negligence of
      Purchaser, its agents, employees or customers, Purchaser agrees to pay all
      charges associated with each such repair. THIS CONSTITUTES THE SOLE
      WARRANTY MADE BY COMPANY EITHER EXPRESSED OR IMPLIED. THERE ARE NO OTHER
      WARRANTIES EXPRESSED OR IMPLIED WHICH EXTEND BEYOND THE FACE HEREOF,
      HEREIN, INCLUDING THE IMPLIED WARRANTIES OF MERCHANTABILITY AND FITNESS
      FOR A PARTICULAR PURPOSE. IN NO EVENT SHALL COMPANY BE LIABLE FOR ANY
      INCIDENTAL OR CONSEQUENTIAL DAMAGES AND PURCHASER'S REMEDIES SHALL BE
      LIMITED TO REPAIR OR REPLACEMENT OF NONCONFORMING UNITS OR
PARTS.

	 	2. 	
      Misuse of Equipment. Any tampering, misuse or
      negligence in handling or use of Equipment renders the warranty void.
      Further, the warranty is void if, at any time, Purchaser attempts to make
      any internal changes to any of the components of the Equipment; if at any
      time the power supplied to any part of the Equipment exceeds the rated
      tolerance; if any external device attached by Purchaser creates conditions
      exceeding the tolerance of the Equipment; or if any time the serial number
      plate is removed or defaced. OPERATION OF THE EQUIPMENT THAT RENDERS THIS
      WARRANTY VOID WILL BE DEFINED TO INCLUDE ALL OF THE POSSIBILITIES
      DESCRIBED IN THIS PARAGRAPH, TOGETHER WITH ANY PRACTICE WHICH RESULTS IN
      CONDITIONS EXCEEDING THE DESIGN TOLERANCE OF THE
  EQUIPMENT.

IV 
TERM OF AGREEMENT 

	 	1. 	
      Term. The term of this Agreement shall be for five
      years from the date hereof, unless sooner terminated. Termination shall
      not relieve either party of obligations incurred prior thereto.

	 	 	 
	 	2. 	
      Termination. This Agreement may be terminated
      only:

	 	 	 
	 	3. 	
      By either party for substantial breach of any material
      provision of this Agreement by the other, provided due notice has been
      given to the other of the alleged breach and such other party has not
      cured the breach within thirty (30) days thereof; or

	 	 	 
	 	4. 	
      By the Company if: there is an unacceptable change in the
      control or management of the Purchaser; if the Purchaser ceases to
      function as a going concern or makes an assignment for the benefit of
      creditors; if a petition in bankruptcy is filed by or against the
      Purchaser, resulting in an adjudication of bankruptcy; or, if the
      Purchaser fails to pay its debts as they become due and provided due
      notice has been given by the Company to the Purchaser and the Purchaser
      has not cured such breach within thirty (30) days thereof;

	 	 	 
	 	5. 	
      By Company any time after the end of the third year of
      this Agreement, upon the Company giving the Purchaser ninety (90) days
      advanced written notice of its intention to so terminate;

	 	 	 
	 	6. 	
      Upon termination of this Agreement all further rights and
      obligations of the parties shall cease, except that Purchaser shall not be
      relieved of (i) its obligation to pay any monies due, or to become due, as
      of or after the date of termination, and (ii) any other obligation set
      forth in this Agreement which is to take effect after the date of
      termination. Purchaser shall have the right to continue to purchase spare
      parts in accordance with Article VI.

V 
NOTICES 

	 	1. 	
      Notice or Communication. Any notice or
      communication required or permitted hereunder (other than Administrative
      Notice) shall be in writing and shall be sent by registered mail, return
      receipt requested, postage prepaid and
addressed to the addresses set forth below or to such changed address as any
party entitled to notice shall have communicated in writing to the other
party. 

Notices and communications to Company
shall be sent to: 

World Moto Co., Ltd. 
131 Thai
Science Park INC-1 #214 
Klong 1, Klong Luang 
Pathumthani, Thailand

12120 

Notices and communications to
Purchaser shall be sent to: 
Mobile Advertising Ventures
19/125 Sukhumvit
Suites, 13th Floor
Soi 13 Sukhumvit Road. 
North Klongtan,
Wattana,
Bangkok, Thailand 
10110 

	 		
      Notices and communications to Purchaser shall be sent to
      address shown on first page of this Agreement. Any notices or
      communications to either party hereunder shall be deemed to have been
      given when deposited in the mail, addressed to the then current address of
      such party.

	 	 	 
	 	2. 	
      Date of Effectiveness. Any such notice or
      communication so mailed shall be deemed delivered and effective 6 working
      days after mailing thereof by priority express postal courier, where a
      working day is to be considered based on the normal schedule of the postal
      service at the location of the recipient of the
  communication.

VI 
GENERAL PROVISIONS 

	 	3. 	
      Relationship of Parties. The relationship between
      the parties established by this Agreement shall be solely that of vendor
      and vendee and all rights and powers not expressly granted to the
      Purchaser are expressly reserved to the Company. The Purchaser shall have
      no right, power or authority in any way to bind the Company to the
      fulfillment of any condition not herein contained, or to any contract or
      obligation, expressed or implied.

	 	 	 
	 	4. 	
      Independence of Parties. Nothing contained in this
      Agreement shall be construed to make the Purchaser the agent for the
      Company for any purpose, and neither party hereto shall have any right
      whatsoever to incur any liabilities or obligations on behalf or binding
      upon the other party. The Purchaser specifically agrees that it shall have
      no power or authority to represent the Company in any manner; that it will
      solicit orders for products as an independent contractor in accordance
      with the terms of this Agreement; and that it will not at any time
      represent the Company in any manner; that it will solicit orders for
      products as an independent contractor in accordance with the terms of this
      Agreement; and that it will not at any time represent orally or in writing
      to any person or corporation or other business entity that it has any
      right, power or authority not expressly granted by this
  Agreement.

	 	 	 
	 	5. 	
      Indemnity. The Purchaser agrees to hold the
      Company free and harmless from any and all claims, damages, and expenses
      of every kind or nature whatsoever (a) arising from acts of the Purchaser;
      (b) as a direct or indirect consequence of termination of this Agreement
      in accordance with its terms; (c) arising from acts of third parties in
      relation to products sold to the Purchaser under this Agreement; or (d) as
      a result of the Purchaser or any of his agents displaying inappropriate,
      illegal, unlicensed or unauthorized content on the Wheelies, including,
      but not limited to execution of liens and security interests by
  third parties with respect to any such products.

	 	6. 	
      Assignment. This Agreement constitutes a personal
      contract and Purchaser shall not transfer or assign same or any part
      thereof without the advance written consent of Company.

	 	 	 
	 	7. 	
      Entire Agreement. The entire Agreement between the
      Company and the Purchaser covering the Equipment is set forth herein and
      any amendment or modification shall be in writing and shall be executed by
      duly authorized representatives in the same manner as this Agreement. The
      provisions of this Agreement are severable, and if any one or more such
      provisions are determined to be illegal or otherwise unenforceable, in
      whole or in part, under the laws of any jurisdiction, the remaining
      provisions or portions hereof shall, nevertheless, be binding on and
      enforceable by and between the parties hereto. Any provisions, terms or
      conditions of Purchaser's Purchase Orders which are, in any way
      contradicting of this Agreement, except those additional provisions
      specifying quantity and shipping instructions, shall not be binding upon
      Company and shall have no applicability to the sale of goods by Company to
      Purchaser.

	 	 	 
	 	8. 	
      Currency. All references to dollar amounts are
      references to lawful currency of the United States of America, unless
      expressly stated to be otherwise.

	 	 	 
	 	9. 	
      Applicable Law. This Agreement shall be governed
      by the laws of the Kingdom of Thailand and is accepted by Company at its
      Corporate Office at 131 Thai Science Park INC-1 #214, Klong 1, Klong
      Luang, Pathumthani, Thailand, 12120. All payments hereunder shall be made
      at Company's offices at 131 Thai Science Park INC-1 #214, Klong 1, Klong
      Luang, Pathumthani, Thailand, 12120. Company's rights granted hereby are
      cumulative and in addition to any rights it may have at law or
    equity.

	 	 	 
	 	10. 	
      Separate Provisions. If any provision of this
      Agreement shall be held to be invalid, illegal or unenforceable, the
      validity, legality and enforceability of the remaining provisions shall in
      no way be affected or impaired thereby.

IN WITNESS WHEREOF, the parties have caused this Agreement to
be executed by their duly authorized officers as of the date and year indicated
above. 

World Moto Co., Ltd. 

 

By:    /s/                                                                        

  (Authorizing
Officer) 

 

Mobile Advertising Ventures Ltd. 

By: 
   /s/                                                                        
(Authorizing
Officer) 

Annex 1 

In the following rate schedule, net revenue is defined as gross
revenue from third party advertising, promotion or similar on the Wheelies less
commissions which shall be no more than twenty five percent (25%) of the gross
revenue.

	Net revenue per wheel per quarter 	Fee due to Company 
	  	  
	$0 to $10,000 	0% 
	$10,001 to $25,000 	7.5% of the amount over $10,000 
	$25,000 to $50,000 	$1125 + 5% of the amount over $25,000 
	over $50,000 	$2375 + 2.5% of the amount over $50,000
  

The above rates are inclusive of 7% Thailand VATLexaria Corp.: Exhibit 10.1 - Filed by newsfilecorp.com

Exhibit 10.1

LOAN AGREEMENT 

THIS AGREEMENT made the 4th day of December, 2013

AMONG: 

Chris Bunka 
5774 Deadpine
Drive 
Kelowna, BC V1P 1A3 

(herein called the “Lender”) 

OF THE FIRST PART 

AND: 

LEXARIA CORP., of
950 – 1130
West Pender Street,
Vancouver BC V6E 4A4,
Fax 604 602 1625 

(herein called the “Company”) 

OF THE SECOND PART 

WHEREAS: 

A. This Loan Agreement (the “Loan Agreement”) is entered into
this date by and between the Lender and the Company on a fifteen month fixed
term. 

B. The purpose of this Loan Agreement is to set out terms of
the arrangement by which Lender agrees to make a loan of CAD$51,507.50 (“Loan”)
available to the Company.

1. DEFINITIONS 

1.1 “Collateral” means the collateral in which the Secured
Parties are granted a security interest by this Agreement and which shall
include the personal property of the Debtor which is defined as and limited to
the Debtor’s 42% gross perpetual working interest and production entitlement in
and to the PPF-12-1 and PPF-12-3a and PPF-12-4 and PPF-12-5 and PPF 12-7 oil and
natural gas wells located in Belmont Lake, Mississippi, and all proceeds,
products and accounts thereof, including, without limitation, all proceeds from
the sale or transfer of the Collateral and of insurance covering the same and of
any tort claims in connection therewith, and all dividends, interest, cash,
notes, securities, equity interest or other property at any time and from time
to time acquired, receivable or otherwise distributed in respect of, or in
exchange for the Collateral, subject only to any preferred interest in this
Collateral previously granted prior to the date of this Agreement. 

1.2 “Indebtedness” means all loans and advances made or which
may be made by the Lender to the Company and Interest thereon and all costs,
charges and expenses of or incurred by
the Lender in connection with any Securities and in connection with any property covered by or comprised in the Securities, whether in protecting, preserving, realizing or collecting any Securities or property aforesaid or attempting so to do or
otherwise and all other obligations and liabilities, present or future, direct or indirect, absolute or contingent, mature or not, of the Company to the Lender arising under or by virtue of this Agreement, the Securities or otherwise howsoever. 

- 2 - 

1.3 “Interest” will be simple interest at 15% per annum. 

1.4 “Principal” means the aggregate principal amount of money loaned to the Company by the Lender of CAD$51,507.50 dollars. 

1.5 “Securities” means the securities referred to in Article 3 or any renewal thereof or substitution therefore. 

2. TERMS OF THE LOAN 

2.1 The Lender will lend to the Company, and the Company will borrow from the Lender by way of one advance to be evidenced by a promissory note in the form attached hereto as Schedule “A”, the Principal sum of fifty thousand dollars (USD)
subject to the terms and conditions of this Agreement and the Securities. 

2.2 For value received, Company promises to pay to Lender beginning in the fourth month and continuing through the fifteenth month, twelve equal monthly payments of $4,292.29 to be applied against the principal amount outstanding from the date
of the Loan Agreement, plus interest payments paid monthly in arrears beginning on the signing of this Agreement at the rate of 15% per annum on the outstanding principal balance.

2.3 Notwithstanding the above the Company may repay at any time any or all of the Principal then outstanding and accrued and unpaid Interest on giving 20 days notice to the Lender. In this event the Company may elect to repay the Principal at any
time in advance of the Maturity Date. 

2.4 In the event the Company sells, pledges, or hypothecates more than 20% of its assets (measured by book value on the Company’s quarterly financial statements) at any time while any principal balance remains unpaid, the entire principal
balance is then due and payable immediately. 

3. SECURITY FOR THE LOAN 

3.1 As an inducement for the Lender to extend the loans as evidenced herein and to secure their complete and timely payment, performance and discharge in full, as the case may be, the Debtor hereby unconditionally and irrevocably pledges, grants and
hypothecates to the Lender a continuing and perfected security interest in and to, a lien upon and a right of set-off against all of their respective right, title and interest of whatsoever kind and nature in and to, the Collateral (the
“Security Interest”).

- 3 - 

4. AFFIRMATIVE COVENANTS OF THE
COMPANY 

4.1 At all times while any Principal or Interest on the Loan is
outstanding, the Company will: 

	 	(a) 	
      maintain the properties and assets being the subject of
      the Securities in good repair;

	 	 	 
	 	(b) 	
      keep true records and books of account in which full,
      true and correct entries will be made in accordance with generally
      accepted accounting principles consistently applied throughout the period
      involved, and maintain adequate accounts and reserves for all taxes,
      including taxes on income and profits, all depreciation and amortization
      of his properties and assets and all such other reserves for contingencies
      as would normally be required in accordance with generally accepted
      accounting principles;

	 	 	 
	 	(c) 	
      permit any representative of the Lender to visit and
      inspect the properties charged by the Securities and to examine the
      Company’s books, records, leases and other documents relating thereto and
      to enquire from time to time as to particulars of any of the foregoing,
      all at such times and so often as may reasonably be requested;
  and

	 	 	 
	 	(d) 	
      forthwith upon request of the Lender execute and deliver
      to the Lender all such further and other mortgages, deeds, documents,
      matters, acts, things and insurances in law (collectively, the “Ancillary
      Items”) for the purpose of record or otherwise which the Lender may
      reasonably require to perfect the intentions and provisions of this
      Agreement; provided that the Company will not be obligated to execute and
      deliver any Ancillary Items where the execution and delivery of such
      Ancillary Items would breach the terms and conditions of any lease of real
      property existing on the date hereof to which the Company is a
    party.

5. DEFAULT 

5.1 Default by the Company. The occurrence of one or
more of the following events shall constitute an “event of default”, namely:

	 	(a) 	
      if the Company fails to make payment of the Indebtedness
      or any part thereof as and when the same comes due and payable;

	 	 	 
	 	(b) 	
      if any representation or warranty contained herein or
      otherwise made in writing to the Lender in connection with any of the
      transactions contemplated by this Agreement is found to be false or
      misleading or incorrect in any material respect on the date which it was
      made;

	 	 	 
	 	(c) 	
      if the Company defaults in the performance of or
      compliance with any term, covenant or agreement contained in this
      Agreement or in any of the Securities and the default is not remedied
      within twenty (20) days after notice thereof has been given to the
      Company;

- 4 - 

	 	(d) 	
      the entry of a decree or order for relief by a court
      having jurisdiction in respect of the Company in an involuntary case under
      the federal bankruptcy laws, as now or hereafter constituted, or any other
      applicable federal or state bankruptcy, insolvency or other similar
      laws;

	 	 	 
	 	(e) 	
      the commencement by the Company of a voluntary case under
      the federal bankruptcy laws, as now or hereafter constituted, or any other
      applicable federal or state bankruptcy, insolvency or other similar
      laws;

	 	 	 
	 	(f) 	
      the appointment of a receiver, liquidator, assignee,
      custodian, trustee, sequestrator (or similar official) of the Company or
      for any material part of the Company’s property;

	 	 	 
	 	(g) 	
      the consent by the Company to the appointment of, or
      taking possession by, a receiver, liquidator, assignee, custodian,
      trustee, sequestrator (or similar official) of the Company or for any
      material part of the Company’s property;

	 	 	 
	 	(h) 	
      the issuance of an order for the winding up or
      liquidation of the affairs of the Company and the continuance of such
      decree, order or appointment unstayed and in effect for a period of sixty
      (60) consecutive days;

	 	 	 
	 	(i) 	
      the making by the Company of an assignment for the
      benefit of its creditors;

	 	 	 
	 	(j) 	
      the institution by or against the Company of any formal
      or informal proceeding for the dissolution or liquidation of, settlement
      of claims against or winding-up of the affairs of the Company;

	 	 	 
	 	(k) 	
      the threat by the Company of ceasing to carry on business
      or the Company ceasing to carry on business;

	 	 	 
	 	(l) 	
      the entry of a decree or order or an effective resolution
      passed for winding-up the Company;

	 	 	 
	 	(m) 	
      the entry by the Company into any reconstruction,
      reorganization, amalgamation, merger or other similar arrangement with any
      other person; or

	 	 	 
	 	(n) 	
      if any encumbrancer takes possession of the properties
      being the subject of the Securities or being financed with the Loan,
      unless the Company in good faith dispute the encumbrancer’s claim and
      non-payment does not jeopardize the title of the Company to any such
      property or any way impairs any of the Securities;
or

5.2 Upon the occurrence of any one of these events of default,
the entire amount of the Principal and Interest then outstanding shall
immediately become due and payable. 

5.3 Lender’s delay or failure to insist upon the strict
performance of the Company’s obligations under this Loan Agreement or the
Securities shall not be construed as a waiver of Lender’s right to later require
strict performance nor as a waiver of any of Lender’s legal and equitable
remedies. 

- 5 - 

6. PAYMENT ON MATURITY 

6.1 On the Maturity Date, the Company will deliver the
Principal then outstanding and any earned Interest due Lender by wire transfer
to Lender’s nominated bank account or in cash or certified cheque delivered to
the address of Lender. 

7. NOTICES 

7.1 Any notice, request, demand, claim, instruction, or other
document to be given to any party pursuant to this Loan Agreement shall be in
writing delivered personally or sent by mail, registered or certified, postage
fully prepaid, as follows: 

	 	(a) 	
      If to, Lender to the address set forth on the first page
      of this Loan Agreement.

	 	 	 
	 	(b) 	
      If to Company, to the addresses set forth on the first
      page of this Loan Agreement, with a copy to:

Madonald Tuskey, Corporate and
Securities Lawyers 
400-570 Granville Street 
Vancouver, BC V6C 3P1

Attention: William L. Macdonald 
Fax: 604 681 4760 

7.2 Any party may give any notice, request, demand, claim,
instruction, or other document under this section using any other means
(including expedited courier, messenger service, telecopy, facsimile, telex,
ordinary mail, or electronic mail), but no such notice, request, demand, claim,
instruction, or other document shall be deemed to have been duly given unless
and until it actually is received by the individual for whom it is intended. Any
party may change its address for purposes of this section by giving notice of
the change of address to the other party in the manner provided in this section.

8. TERMINATION 

8.1 This Loan Agreement may, by written notice, be terminated
as follows: 

	 	(a) 	
      by either the Company or the Lender if a material breach
      of any provision of this Loan Agreement has been committed by the other
      party and such breach has not been waived; or

	 	 	 
	 	(b) 	
      by mutual written consent of the Company and
    Lender.

8.2 Each Party’s right of termination is in addition to any
other rights it may have under this Loan Agreement or otherwise, and the
exercise of a right of termination will not be an election of remedies;
provided, however, that if this Loan Agreement is terminated by a party because
of a breach of the Loan Agreement by the other party or because one or more of
the conditions to the terminating party’s obligations under this Loan Agreement
is not satisfied as a result of the other party’s failure to comply with its
obligations under this Loan Agreement, the terminating party’s right to pursue
all legal remedies will survive such termination unimpaired.
For greater certainty, termination of this Loan Agreement does not release the Company from its obligations hereunder in respect of any Principal then outstanding. 

- 6 - 

9. INDEMNIFICATION 

9.1 All representations, warranties, covenants, and obligations in this Loan Agreement, and any other certificate or document delivered pursuant to this Loan Agreement will survive the Loan Agreement. The right to indemnification, payment of damages
or other remedy based on such representations, warranties, covenants, and obligations will not be affected by any investigation conducted with respect to, or any knowledge acquired (or capable of being acquired) at any time, whether before or after
the execution and delivery of this Loan Agreement, with respect to the accuracy or inaccuracy of or compliance with, any such representation, warranty, covenant, or obligation. The waiver of any condition based on the accuracy of any representation
or warranty, or on the performance of or compliance with any covenant or obligation, will not affect the right to indemnification, payment of damages, or other remedy based on such representations, warranties, covenants, and obligations. 

9.2 The Company and the Lender mutually agree to indemnify and hold each other harmless along with their respective representatives, stockholders, controlling persons, and affiliates (collectively, the “Indemnified Persons”) for, and will
pay to the Indemnified Persons the amount of, any loss, liability, claim, damage (including incidental and consequential damages), expense (including costs of investigation and defense and reasonable attorneys’ fees) or diminution of value,
whether or not involving a third-party claim, arising, directly or indirectly, from or in connection with any breach of any representation, warrant, covenant or obligation made by the other Party in this Loan Agreement.

10. GENERAL PROVISIONS 

10.1 The Parties agree to furnish upon request to each other such further information, and to execute and deliver to each other such other documents, and to do such other acts and things, all as the other party may reasonably request for the purpose
of carrying out the intent of this Loan Agreement. 

10.2 The rights and remedies of the parties to this Loan Agreement are cumulative and not alternative. Neither the failure nor any delay by any party in exercising any right, power, or privilege under this Loan Agreement or the documents referred to
in this Loan 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 Loan Agreement or the documents referred to in this Loan 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 such 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 Loan Agreement or the documents
referred to in this Loan Agreement. 

- 7 - 

10.3 This Loan Agreement supersedes all prior agreements
between the parties with respect to this loan and constitutes (along with the
documents referred to in this Loan Agreement) a complete and exclusive statement
of the terms of the agreement between the parties with respect to its subject
matter. This Loan Agreement may not be amended except by a written agreement
executed by the party to be charged with the amendment. 

10.4 Neither party may assign any of its rights under this Loan
Agreement without the prior consent of the other parties. This Loan 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 Loan Agreement will be construed to give any Person other than the
parties to this Loan Agreement any legal or equitable right, remedy, or claim
under or with respect to this Loan Agreement or any provision of this Loan
Agreement. This Loan Agreement and all of its provisions and conditions are for
the sole and exclusive benefit of the parties to this Loan Agreement and their
successors and assigns. 

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

10.6 This Loan Agreement will be governed by the laws of the
Province of British Columbia. 

10.7 This Loan Agreement may be signed in as many counterparts
is as necessary and all signatures so executed shall constitute one Agreement,
binding on all Parties as if each was a signatory on the original. 

11. SIGNATURES 

11.1 IN WITNESS WHEREOF, the parties have executed and
delivered this Loan Agreement as of the date first written above. 

Per:                                                                    

Chris Bunka 

LEXARIA CORP. 

Per:                        
                                           

Bal Bhullar, CFO and Authorized Signatory 

SCHEDULE “A” 

PROMISSORY NOTE 

	CAD$51,507.50 	December 4, 2013 

FOR VALUE RECEIVED, the undersigned (the “Borrower”) promise to
pay to Chris Bunka of 5774 Deadpine Drive, Kelowna B.C. Canada, (the “Lender”)
the principal sum of fifty thousand USD dollars (CAD$51,507.50) in lawful
currency of the USD (the “Principal Sum”), as herein provided.

The Principal Sum or such amount as shall remain outstanding
from time to time shall bear 15% interest thereon, both before and after each of
maturity, default and judgment commencing on the day the Principal Sum is
advanced by the Lender to the Borrower.

The Principal Sum aforesaid will be paid in the amount of
$4,292.29 at the end of every month for twelve months. 

Extension of time of payment of all or any part of the amount
owing hereunder at any time or times and failure of the Lender to enforce any of
its rights or remedies hereunder shall not release the Borrower from its
obligations hereunder or constitute a waiver of the rights of the Lender to
enforce any rights and remedies therein. 

On default in payment of any sum due hereunder for the
Principal Sum or Interest or after 15 days’ notice of Default to the Borrower
upon the occurrence of an Event of Default as defined pursuant to the Loan
Agreement, entered into between the Borrower and the Lender and dated for
reference December 4, 2013, or any amendments thereto, the unpaid balance of the
Principal Sum and all accrued Interest thereon shall at the option of the Lender
forthwith become due and payable. 

The undersigned, when not in default hereunder, will have the
privilege of prepaying in whole or in part the Principal Sum, upon 20 days’
notice to the Lender. 

Presentment, protest, notice of protest and notice of dishonour
are hereby waived. 

LEXARIA CORP. 

Per:                           
                                        

Bal Bhullar, CFO and Authorized Signatory

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