Document:

MANUFACTURING
CONTRACT

 

 

This Contract (this "Contract") is made effective
as of August 2, 2013, by and between Form-A-Feed Inc, of 740 Bowman Street, Stewart, Minnesota 55385, (Form-A-Feed Inc), and BeesFree,
Inc., of 2101 Vista Parkway, Suite 122, West Palm Beach, Florida 33411, (BeesFree, Inc.).

 

1. PURPOSE OF CONTRACT. BeesFree, Inc. is in the business
of developing and marketing supplements for bees. Form-A-Feed Inc agrees to produce BeesFree, Inc.'s product(s), hereinafter referred
to as the "Goods", in the quantity, price, and specifications determined in this agreement.

 

2. MANUFACTURED ITEMS. Form-A-Feed Inc agrees to manufacture
and sell, and BeesFree, Inc. agrees to buy, the following products (the "Goods") in accordance with the terms and conditions
of this Contract:

 

	Description
    Quantity	 	 	    Unit
                                                                                                       Price   	 	 	 	     Minimum
                                                                                                       Order	 
	 	 	 	 	 	 	 	 	 
	Bees Vita Plus  4x1 gallon (4 per box)	 	$	80.00	 	 	 	     96 cases	 
	Bees Vita Plus  2x2.5 gallon (2 per box)	 	$	92.50	 	 	 	    72 cases	 
	Bees Vita Plus  50 lb jug in box	 	$	90.00	 	 	 	80	 
	Bees Vita Plus 55 gal poly drum	 	$	875.00	 	 	 	8	 

 

 Form-A-Feed reserves the right to
review and modify above prices quarterly.

 

3. PRODUCT STANDARDS. The Goods shall comply with the
specifications in the attached Exhibit A and incorporated into this Contract by this reference.

 

4. TITLE/RISK OF LOSS. Title to and risk of loss of goods
shall pass to the Buyer upon delivery F.O.B. at the Manufacturer's plant to an agent of the Buyer including a common carrier, notwithstanding
any prepayment or allowance of freight by the Manufacturer.

 

5. PAYMENT. Payment shall be made to 740 Bowman Street,
Stewart, Minnesota 55385, in the amount of invoiced based on each order on or within 30 days from the date of invoice.

 

2% cash discount if paid within 10 days of invoice

 

If any invoice is not paid when due, interest will be added
to and payable on all overdue amounts at 18.00 percent per year, or the maximum percentage allowed under applicable laws, whichever
is less. BeesFree, Inc. shall pay all costs of collection, including without limitation, reasonable attorney fees.

 

In addition to any other right or remedy provided by law, if
BeesFree, Inc. fails to pay for the Goods when due, Form-A-Feed Inc has the option to treat such failure to pay as a material breach
of this Contract, and may cancel this Contract and/or seek legal remedies.

 

    	 

    	 

    

 

Shipping costs will be incurred by Bees Free Inc.

 

6. DELIVERY. Time is of the essence in the performance
of this Contract. BeesFree, Inc will arrange for shipment and pick-up. Storage of finished product by Form-A-Feed Inc. will be
at no charge for sixty days following manufacturing.

 

7. PAYMENT OF TAXES. BeesFree, Inc. agrees to pay all
taxes of every description, federal, state, and municipal, that arise as a result of this sale, excluding income taxes.

 

8. INDEMNITY AND INSURANCE. Form-A-Feed Inc agrees to
hold BeesFree, Inc. harmless and to defend any and all actions, claims, suits, or proceedings that may subject BeesFree, Inc. to
liability for defects in the Products. Form-A-Feed Inc represents that it now has in force a valid comprehensive liability insurance
policy in the amount of $2,000,000.00 with Nationwide Insurance, and that the policy covers the risk of liability for defects in
the Products. If this insurance coverage should change or lapse, Form-A-Feed Inc agrees that BeesFree, Inc. may pay the insurance
premiums and deduct this expenditure from the payment due on the Products, beginning with the first shipment of Products following
the expenditure.

 

9. WARRANTIES. Form-A-Feed Inc warrants that the Goods
shall be free of substantive defects in material and workmanship.

 

FORM-A-FEED INC SHALL IN NO EVENT BE LIABLE FOR ANY INCIDENTAL,
SPECIAL, OR CONSEQUENTIAL DAMAGES OF ANY NATURE, EVEN IF FORM-A-FEED INC HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.

 

10. INSPECTION. BeesFree, Inc., upon receiving possession
of the Goods, shall have a reasonable opportunity to inspect the Goods to determine if the Goods conform to the requirements of
this Contract. If BeesFree, Inc., in good faith, determines that all or a portion of the Goods are non-conforming, BeesFree, Inc.
may return the Goods to Form-A-Feed Inc at Form-A-Feed Inc's expense. BeesFree, Inc. must provide written notice to Form-A-Feed
Inc of the reason for rejecting the Goods. Form-A-Feed Inc will have 21 days from the return of the Goods to remedy such defects
under the terms of this Contract.

 

11. DEFAULT. The occurrence of any of the following shall
constitute a material default under this Contract:

 

a. The failure to make a required payment when due.

 

b. The insolvency or bankruptcy of either party.

 

c. The subjection of any of either party's property
to any levy, seizure, general assignment for the benefit of creditors, application or sale for or by any creditor or government
agency.

 

d. The failure to make available or deliver the Goods
in the time and manner provided for in this Contract.

 

    	 

    	 

    

 

12. REMEDIES ON DEFAULT. In addition to any and all other
rights a party may have available according to law, if a party defaults by failing to substantially perform any provision, term
or condition of this Contract (including without limitation the failure to make a monetary payment when due), the other party may
terminate the Contract by providing written notice to the defaulting party. This notice shall describe with sufficient detail the
nature of the default. The party receiving such notice shall have 30 days from the effective date of such notice to cure the default(s).
Unless waived by a party providing notice, the failure to cure the default(s) within such time period shall result in the automatic
termination of this Contract.

 

13. FORCE MAJEURE. If performance of this Contract or
any obligation under this Contract is prevented, restricted, or interfered with by causes beyond either party's reasonable control
("Force Majeure"), and if the party unable to carry out its obligations gives the other party prompt written notice of
such event, then the obligations of the party invoking this provision shall be suspended to the extent necessary by such event.
The term Force Majeure shall include, without limitation, acts of God, fire, explosion, vandalism, storm or other similar occurrence,
orders or acts of military or civil authority, or by national emergencies, insurrections, riots, or wars, or strikes, lock-outs,
work stoppages, or supplier failures. The excused party shall use reasonable efforts under the circumstances to avoid or remove
such causes of non-performance and shall proceed to perform with reasonable dispatch whenever such causes are removed or ceased.
An act or omission shall be deemed within the reasonable control of a party if committed, omitted, or caused by such party, or
its employees, officers, agents, or affiliates.

 

14. ARBITRATION. Any controversies or disputes arising
out of or relating to this Contract shall be resolved by binding arbitration in accordance with the then-current Commercial Arbitration
Rules of the American Arbitration Association. The parties shall select a mutually acceptable arbitrator knowledgeable about issues
relating to the subject matter of this Contract. In the event the parties are unable to agree to such a selection, each party will
select an arbitrator and the two arbitrators in turn shall select a third arbitrator, all three of whom shall preside jointly over
the matter. The arbitration shall take place at a location that is reasonably centrally located between the parties, or otherwise
mutually agreed upon by the parties. All documents, materials, and information in the possession of each party that are in any
way relevant to the dispute shall be made available to the other party for review and copying no later than 30 days after the notice
of arbitration is served.  The arbitrator(s) shall not have the authority to modify any provision of this Contract or to award
punitive damages. The arbitrator(s) shall have the power to issue mandatory orders and restraint orders in connection with the
arbitration. The decision rendered by the arbitrator(s) shall be final and binding on the parties, and judgment may be entered
in conformity with the decision in any court having jurisdiction. The agreement to arbitration shall be specifically enforceable
under the prevailing arbitration law. During the continuance of any arbitration proceeding, the parties shall continue to perform
their respective obligations under this Contract.

 

Both parties acknowledge that during the course of this Contract,
each may obtain confidential information regarding the other party's business. Both parties agree to treat all such information
and the terms of this Contract as confidential and to take all reasonable precautions against disclosure of such information to
unauthorized third parties during and after the term of this Contract. Upon request by an owner, all documents relating to the
confidential information will be returned to such owner.

 

    	 

    	 

    

 

15. CONFIDENTIALITY. Upon termination of this Contract,
Form-A-Feed Inc will return to BeesFree, Inc. all records, notes, documentation and other items that were used, created, or controlled
by Form-A-Feed Inc during the term of this Contract.

 

16. NOTICE. Any notice or communication required or permitted
under this Contract shall be sufficiently given if delivered in person or by certified mail, return receipt requested, to the addresses
listed above or to such other address as one party may have furnished to the other in writing. The notice shall be deemed received
when delivered or signed for, or on the third day after mailing if not signed for.

 

17. ENTIRE CONTRACT. This Contract contains the entire
agreement of the parties regarding the subject matter of this Contract, and there are no other promises or conditions in any other
agreement whether oral or written. This Contract supersedes any prior written or oral agreements between the parties.

 

18. AMENDMENT. This Contract may be modified or amended
if the amendment is made in writing and signed by both parties.

 

19. SEVERABILITY. If any provision of this Contract shall
be held to be invalid or unenforceable for any reason, the remaining provisions shall continue to be valid and enforceable. If
a court finds that any provision of this Contract is invalid or unenforceable, but that by limiting such provision it would become
valid and enforceable, then such provision shall be deemed to be written, construed, and enforced as so limited.

 

20. WAIVER OF CONTRACTUAL RIGHT. The failure of either
party to enforce any provision of this Contract shall not be construed as a waiver or limitation of that party's right to subsequently
enforce and compel strict compliance with every provision of this Contract.

 

21. ATTORNEY'S FEES. If any action at law or in equity
is brought to enforce or interpret the provisions of this Agreement, the prevailing party will be entitled to reasonable attorneys'
fees in addition to any other relief to which that party may be entitled.

 

22. HEADINGS. Headings used in this Agreement are provided
for convenience only and shall not be used to construe meaning or intent.

 

23. APPLICABLE LAW. This Contract shall be governed by
the laws of the State of Florida.

 

    	 

    	 

    

 

 

	Buyer:	 
	BeesFree, Inc.	 
	 	 	 
	 	 	 
	 	 	 
	By: 	/s/ Joseph N. Fasciglione	 
	 	Joseph N. Fasciglione 	 
	 	InterimChief Executive Officer 	 
	 	 	 

 

	Manufacturer:	 
	Form-A-Feed Inc	 
	 	 	 
	 	 	 
	 	 	 
	By: 	/s/Eric Nelson	 
	 	Eric Nelson 	 
	 	Management Team MemberExhibit 10.2

 

Additional Agreement

 

 

In connection with
the assignment of that certain Promissory Note, effective May 13, 2013, by Net Element International, Inc., a Delaware corporation,
to T1T Lab, LLC, a Florida limited liability company, K1 Holding Limited, a company organized under the laws of the British Virgin
Islands, hereby agrees that (i) T1T Lab, LLC will be liable under such promissory note and (ii) Net Element International, Inc.
will no longer be liable under such promissory note.

 

IN WITNESS WHEREOF,
the undersigned has executed this Additional Agreement effective as of the 25th day of September, 2013.

 

	K1 HOLDING LIMITED
	 	 
	 	 
	By:	/s/ Andreas Moustras
	Name:	Andreas Moustras
	Title:	Director

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00223-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00223-of-00352.parquet"}]]