Document:

f8kex10ii_nxt.htm

    Exhibit 10.2

     

    
      EMPLOYMENT
AGREEMENT

      

             
This employment agreement (this "Agreement") dated as of February 12, 2009 (the
"Effective Date"), is made by and between NXT Nutritionals Holdings, Inc., a
Delaware corporation (the "Company") and David Briones (the “Executive”)
(collectively, the “Parties”).

      

      WHEREAS, the Company is a publicly
traded company whose shares are quoted on the OTC Bulletin Board;

      

      WHEREAS, the Executive will have the
duties and responsibilities as described in Section 1 of the Agreement during
the period when the Executive is the Chief Financial Officer of the Company;
and

      

      WHEREAS, the Parties wish to establish
the terms of the Executive’s employment with the Company;

      

      NOW, THEREFORE, in consideration of the
foregoing, of the mutual promises contained herein and of other good and
valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the Parties, intending to be legally bound, hereby agree as
follows:

      

      1. EMPLOYMENT
AND TERM.

      

      (a) Employment. During
the Employment Term, the Executive shall serve as the Chief Financial Officer of
the Company. In this capacity the Executive shall be responsible to lead and
manage all of the operations of the Company that are related to finance and
capital market, including, but is not limited to, providing expertise in making
financial plan and strategy, and working with the Company’s U.S. legal counsel
and auditors to implement, monitor and oversee the Company’s compliance with the
requirements of the Sarbanes-Oxley Act, Securities Act of the 1933, Exchange Act
of the 1934, and the listing rules of the OTC Bulletin Board and to advise the
Board of the Directors with respect to the Company’s internal controls and
procedures, including disclosure controls and procedures.

      

       During
the Employment Term, the Executive shall report directly to the Chief Executive
Officer and the Board of Directors of the Company. The Executive shall obey the
lawful directions of the Chief Executive Officer and the Board of Directors to
whom the Executive reports and shall use his diligent efforts to promote the
interests of the Company and to maintain and promote the reputation
thereof.

      

      The
Executive hereby accepts such employment and agrees to devote sufficient time,
attention and energies during regular business hours to effectively perform his
duties and obligations hereunder.

      
        
           

        

        
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      Employment Term. The employment of the
Executive under this Agreement shall commence the date hereof and shall expire
on February 12, 2011 (the “Employment Term”)

      

      2. COMPENSATION.

      

      (a) Base Salary. The Executive
hereby agrees to waive his right to receive any base salary from the Company in
connection with his performance of duties provided in Section 1(a) of this
Agreement in lieu of the consideration provided pursuant to the Consulting
Agreement, as described below.

      

      (b) Consulting Services and
Fees.  Subject to the terms and conditions of the consulting
agreement entered into by and between Bartolomei Pucciarelli, LLC (“Bartolomei”)
and NXT Nutritionals, Inc (the “Consulting Agreement”), the Company hereby
acknowledges that it shall retain Bartolomei, an accounting and consulting firm
where David Briones works as a senior consultant, to provide consulting services
and shall pay Bartolomei compensation for such services rendered by the
Executive and Bartolomei in the amount as provided in the Consulting Agreement.
The termination of the consulting services shall be subject to the terms and
conditions of the Consulting Agreement or such other agreements the Company and
Bartolomei will enter into hereafter, and shall not be terminated upon any event
of Early Termination as provided in Section 4 herein.

      

      3. EMPLOYEE
BENEFITS.

      

      (a) Benefit Plans.  The
Executive shall be eligible to participate in any employee benefit plan of the
Company, including, but not limited to, equity, pension, thrift, profit sharing,
medical coverage, education, or other retirement or welfare benefits that the
Company has adopted or may adopt, maintain or contribute to the benefit of its
senior executives, at a level commensurate with his positions, subject to
satisfying the applicable eligibility requirements. The Company may at any time
or from time to time amend, modify, suspend or terminate any employee benefit
plan, program or arrangement for any reason in its sole discretion.

      

      (b) Business and Entertainment
Expenses. Upon presentation of appropriate documentation, the Executive
shall be reimbursed for all reasonable and necessary business and entertainment
expenses incurred in connection with the performance of his duties hereunder,
all in accordance with the Company's expense reimbursement policy applicable to
senior executives from time to time in effect.

      

      4. EARLY
TERMINATION.  The Executive's employment and the Employment
Term shall terminate on the first of the following to occur:

      

      (a) Disability.  The
thirtieth (30th) day
following a written notice of termination by the Company to the Executive due to
Disability. For purposes of this Agreement, "Disability" shall mean a
determination  by the Company in accordance with applicable law that
due to a physical or mental injury, infirmity or incapacity, the Executive is
unable to perform the

      
        
           

        

        
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      essential
functions of his job with or without accommodation for 180 days (whether or not
consecutive) during any 12-month period.

      

      (b) Death.  Automatically
on the date of death of the Executive.

      

      (c) Cause.  Immediately
upon written notice of termination by the Company to the Executive for Cause.
"Cause" shall mean, as determined by the Board (or its designee) (1) conduct by
the Executive in connection with his employment duties or responsibilities that
is fraudulent, unlawful or grossly negligent; (2) the willful misconduct of the
Executive; (3) the willful and continued failure of the Executive to perform the
Executive's duties with the Company (other than any such failure resulting from
incapacity due to physical or mental illness); (4) the commission by the
Executive of any felony or any crime involving moral turpitude; (5) violation of
any material policy of the Company or any material provision of the Company's
code of conduct, employee handbook or similar documents; or (6) any material
breach by the Executive of any provision of this Agreement or any other written
agreement entered into by the Executive with the Company.

      

      (d) Without Cause.  On
the sixtieth (60th) day following written notice by either Party to the other
Party without Cause, other than for death or Disability of the
Executive.  The Company may also terminate this Agreement for cause at
any time in the event of the failure of the Executive to perform duties assigned
by the Company in a correct, timely and expeditious manner or in the event of
material violation by the Executive of any term or condition of this
Agreement.

      

      5. CONSEQUENCES
OF TERMINATION.

      

      (a) Disability.  Upon
termination of the Employment Term because of the Executive's Disability, the
Company shall pay or provide to the Executive (1) any unpaid bonus accrued
through the date of termination; (2) reimbursement for any unreimbursed expenses
properly incurred through the date of termination; and (3) all other payments or
benefits to which the Executive may be entitled under the terms of any
applicable employee benefit plan, program or arrangement (collectively, "Accrued
Benefits").

      

      (b) Death.  Upon the
termination of the Employment Term because of the Executive's death, the
Executive's estate shall be entitled to any Accrued Benefits.

      

      (c) Termination for Cause. Upon
the termination of the Employment Term by the Company for Cause or by either
party in connection with a failure to renew this Agreement, the Company shall
pay to the Executive any Accrued Benefits.

      

      (d) Termination without
Cause.  Upon the termination of the Employment Term by the
Company without Cause, the Company shall pay or provide to the Executive the
Accrued Benefits.

      

      6. NO ASSIGNMENT.  This
Agreement is personal to each of the Parties.  Except as provided
below, no Party may assign or delegate any rights or obligations hereunder
without

      
        
           

        

        
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      first
obtaining the written consent of the other Party hereto; provided, however, that the
Company may assign this Agreement to any successor (whether direct or indirect,
by purchase, merger, consolidation or otherwise) to all or substantially all of
the business or assets of the Company.

      

      7. NOTICES. For the purpose of
this Agreement, notices and all other communications provided for in this
Agreement shall be in writing and shall be deemed to have been duly given (1) on
the date of delivery if delivered by hand, (2) on the date of transmission, if
delivered by confirmed facsimile, (3) on the first business day following the
date of deposit if delivered by guaranteed overnight delivery service, or (4) on
the fourth business day following the date delivered or mailed by United States
registered or certified mail, return receipt requested, postage prepaid,
addressed as follows:

      

      If to the Executive:

      

      David Briones

      2564 Brunswick Pike

      Lawrenceville, NJ 08648

      

      If to the Company:

      

      NXT Nutritionals Holdings,
Inc.

      718
Richfield Avenue

      Kenilworth,
New Jersey 07033

      

      With a copy (which does not constitute
a notice) to:

      

      Anslow & Jaclin, LLP

      195 Route 9 South, Suite
204

      Manalapan, New Jersey,
07726

      Attention: Kristina Trauger,
Esq.

      Tel.:732-409-1212

      Fax: (732) 577-1188

      

      or to
such other address as either Party may have furnished to the other in writing in
accordance herewith, except that notices of change of address shall be effective
only upon receipt.

      

      8. PROTECTION
OF THE COMPANY'S BUSINESS.

      

      (a) Confidentiality.  The
Executive acknowledges that during the course of his employment by the Company
(prior to and during the Employment Term) he has and will occupy a position of
trust and confidence. The Executive shall hold in a fiduciary capacity for the
benefit of the Company and shall not disclose to others or use, whether directly
or indirectly, any Confidential Information regarding the Company, except (i) as
in good faith deemed necessary by the Executive to perform his duties hereunder,
(ii) to enforce any rights or defend any claims hereunder or under any other
agreement to which the Executive is a party, provided

      
        
           

        

        
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      that such disclosure
is relevant to the enforcement of such rights or defense of such claims and is
only disclosed in the formal proceedings related thereto, (iii) when required to
do so by a court of law, by any governmental agency having supervisory authority
over the business of the Company or by any administrative or legislative body
(including a committee thereof) with jurisdiction to order him to divulge,
disclose or make accessible such information, provided that the Executive
shall give prompt written notice to the Company of such requirement, disclose no
more information than is so required, and cooperate with any attempts by the
Company to obtain a protective order or similar treatment, (iv) as to such
Confidential Information that shall have become public or known in the Company's
industry other than by the Executive's unauthorized disclosure, or (v) to the
Executive's spouse, attorney and/or his personal tax and financial advisors as
reasonably necessary or appropriate to advance the Executive's tax, financial
and other personal planning (each an "Exempt Person"), provided, however, that any disclosure
or use of Confidential Information by an Exempt Person shall be deemed to be a
breach of this Section 9(a) by the Executive. The Executive shall take all
reasonable steps to safeguard the Confidential Information and to protect it
against disclosure, misuse, espionage, loss and theft.  The Executive
understands and agrees that the Executive shall acquire no rights to any such
Confidential Information. "Confidential Information" shall mean information
about the Company, its subsidiaries and affiliates, and their respective clients
and customers that is not disclosed by the Company and that was learned by the
Executive in the course of his employment by the Company, including, but not
limited to, any proprietary knowledge, trade secrets, data and databases,
formulae, sales, financial, marketing, training and technical information,
client, customer, supplier and vendor lists, competitive strategies, computer
programs and all papers, resumes, and records (including computer records) of
the documents containing such Confidential Information.

      

      (b) Non-Competition.  During
the Employment Term and for the one-year period following the termination of the
Executive's employment for any reason (the "Restricted Period"), the Executive
shall not, directly or indirectly, without the prior written consent of the
Company, provide employment (including self-employment), directorship,
consultative or other services to any business, individual, partner, firm,
corporation, or other entity that competes with any business conducted by the
Company or any of its subsidiaries or affiliates on the date of the Executive's
termination of employment or within one year of the Executive's termination of
employment in the geographic locations where the Company and its subsidiaries or
affiliates engage or propose to engage in such business (the "Business").
Nothing herein shall prevent the Executive from having a passive ownership
interest of not more than 2% of the outstanding securities of any entity engaged
in the Business whose securities are traded on a national securities
exchange.

      

      (c) Non-Solicitation of Employees.
The Executive recognizes that he possesses and will possess confidential
information about other employees of the Company and its subsidiaries and
affiliates relating to their education, experience, skills, abilities,
compensation and benefits, and inter-personal relationships with customers of
the Company and its subsidiaries and affiliates. The Executive recognizes that
the information he possesses and will possess about these other employees is not
generally known, is of substantial value to the Company and its subsidiaries and
affiliates in developing their business and in securing and retaining customers,
and has been and will be acquired by him because of his business
position

      
        
           

        

        
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      with the
Company. The Executive agrees that, during the Restricted Period, he will not,
directly or indirectly, (i) solicit or recruit any employee of the Company
or any of its subsidiaries or affiliates (a "Current Employee") or any person
who was an employee of the Company or any of its subsidiaries or affiliates
during the twelve (12) month period immediately prior to the date the
Executive's employment terminates (a "Former Employee") for the purpose of being
employed by him or any other entity, or (ii) hire any Current Employee or Former
Employee.

      

      (d) Non-Solicitation of
Customers.  The Executive agrees that, during the Restricted
Period, he will not, directly or indirectly, solicit or attempt to solicit (i)
any party who is a customer or client of the Company or its subsidiaries, who
was a customer or client of the Company or its subsidiaries at any time during
the twelve (12) month period immediately prior to the date the Executive's
employment terminates or who is a prospective customer or client that has been
identified and targeted by the Company or its subsidiaries for the purpose of
marketing, selling or providing to any such party any services or products
offered by or available from the Company or its subsidiaries, or (ii) any
supplier or vendor to the Company or any subsidiary to terminate, reduce or
alter negatively its relationship with the Company or any subsidiary or in any
manner interfere with any agreement or contract between the Company or any
subsidiary and such supplier or vendor.

      

      (e) Property.  The
Executive acknowledges that all originals and copies of materials, records and
documents generated by him or coming into his possession during his employment
by the Company or its subsidiaries are the sole property of the Company and its
subsidiaries ("Company Property").  During the Employment Term, and at
all times thereafter, the Executive shall not remove, or cause to be removed,
from the premises of the Company or its subsidiaries, copies of any record,
file, memorandum, document, computer related information or equipment, or any
other item relating to the business of the Company or its subsidiaries, except
in furtherance of his duties under this Agreement.  When the
Executive's employment with the Company terminates, or upon request of the
Company at any time, the Executive shall promptly deliver to the Company all
copies of Company Property in his possession or control.

      

      (f) Non-Disparagement.  Executive
shall not, and shall not induce others to, Disparage the Company or its
subsidiaries or affiliates or their past and present officers, directors,
employees or products. "Disparage" shall mean making comments or statements to
the press, the Company's or its subsidiaries' or affiliates' employees or any
individual or entity with whom the Company or its subsidiaries or affiliates has
a business relationship which would adversely affect in any manner (1) the
business of the Company or its subsidiaries or affiliates (including any
products or business plans or prospects), or (2) the business reputation of the
Company or its subsidiaries or affiliates, or any of their products, or their
past or present officers, directors or employees.

      

      (g) Cooperation.  Subject
to the Executive's other reasonable business commitments, following the
Employment Term, the Executive shall be available to cooperate with the Company
and its outside counsel and provide information with regard to any past,
present, or future legal matters which relate to or arise out of the business
the Executive conducted on behalf of the Company and its subsidiaries and
affiliates, and, upon presentation of

      
        
           

        

        
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      appropriate
documentation, the Company shall compensate the Executive for any out-of-pocket
expenses reasonably incurred by the Executive in connection
therewith.

      

      (h) Equitable Relief and Other
Remedies.  The Executive acknowledges and agrees that the
Company's remedies at law for a breach or threatened breach of any of the
provisions of this Section 9 would be inadequate and, in recognition of this
fact, the Executive agrees that, in the event of such a breach or threatened or
attempted breach, in addition to any remedies at law, the Company, without
posting any bond, shall be entitled to obtain equitable relief in the form of
specific performance, a temporary restraining order, a temporary or permanent
injunction or any other equitable remedy which may then be available. In
addition, without limiting the Company's remedies for any breach of any
restriction on the Executive set forth in this Section 9, except as required by
law, the Executive shall not be entitled to any payments set forth in Section
6(d) hereof if the Executive has breached the covenants applicable to the
Executive contained in this Section 9, the Executive will immediately return to
the Company any such payments previously received under Section 6(d) upon such a
breach, and, in the event of such breach, the Company will have no obligation to
pay any of the amounts that remain payable by the Company under Section
6(d).

      

      (i) Reformation.  If it
is determined by a court of competent jurisdiction in any state that any
restriction in this Section 8 is excessive in duration or scope or is
unreasonable or unenforceable under the laws of that state, it is the intention
of the parties that such restriction may be modified or amended by the court to
render it enforceable to the maximum extent permitted by the law of that
state.  The Executive acknowledges that the restrictive covenants
contained in this Section 8 are a condition of this Agreement and are reasonable
and valid in temporal scope and in all other respects.

      

      (j) Liability.                      Notwithstanding
the provisions in this Section 8 the Executive shall not be liable for any
mistakes of fact, errors of judgment, for losses sustained by the Company or any
subsidiary or for any acts or omissions of any kind, unless caused by the
negligence or willful or intentional misconduct of the Executive or any person
or entity acting for or on behalf of the Executive.

      

      (k) Survival of
Provisions.  The obligations contained in this Section 8 shall
survive in accordance with their terms the termination or expiration of the
Executive's employment with the Company and shall be fully enforceable
thereafter.

      

      9. INDEMNIFICATION.  The
Executive shall be indemnified to the extent permitted by the Company's
organizational documents and to the extent required by law.

      

      10. SECTION HEADINGS AND
INTERPRETATION. The section headings used in this Agreement are included
solely for convenience and shall not affect, or be used in connection with, the
interpretation of this Agreement. Expressions of inclusion used in this
agreement are to be understood as being without limitation.

      
        
           

        

        
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      SEVERABILITY.  The
provisions of this Agreement shall be deemed severable and the invalidity of
unenforceability of any provision shall not affect the validity or
enforceability of the other provisions hereof.

      

      11. COUNTERPARTS.  This
Agreement may be executed in several counterparts, each of which shall be deemed
to be an original but all of which together will constitute one and the same
Agreement.

      

      12. GOVERNING LAW.  This
Agreement in its interpretation and application and enforcement shall be
governed by the law of the State of Delaware.

      

      13. ENTIRE AGREEMENT. This
Agreement contains the entire agreement between the Parties with respect to the
subject matter hereof and supersedes all prior agreements, written or oral, with
respect thereto. No agreements or representations, oral or otherwise, express or
implied, with respect to the subject matter hereof have been made by either
party which are not expressly set forth in this Agreement.

      

      14. WAIVER AND
AMENDMENT.  No provision of this Agreement may be modified,
amended, waived or discharged unless such waiver, modification, amendment or
discharge is agreed to in writing and signed by the Executive and such officer
or director as may be designated by the Board. No waiver by either Party at any
time of any breach by the other Party hereto of, or compliance with, any
condition or provision of this Agreement to be performed by such other Party
shall be deemed a waiver or similar or dissimilar provisions or conditions at
the same or at any prior or subsequent time.

      

      15. WITHHOLDING. The Company may
withhold from any and all amounts payable under this Agreement such federal,
state, local and foreign taxes as may be required to be withheld pursuant to any
applicable law or regulation.

      

      16. AUTHORITY AND
NON-CONTRAVENTION.  The Executive represents and warrants to
the Company that he has the legal right to enter into this Agreement and to
perform all of the obligations on his part to be performed hereunder in
accordance with its terms and that he is not a party to any agreement or
understanding, written or oral, which could prevent him from entering into this
Agreement or performing all of his obligations hereunder.

      

      17. COUNTERPARTS.  This
Agreement may be executed in counterparts, each of which shall be deemed an
original but all of which shall constitute one and the same
instrument.

      

      

      [REMAINDER
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      IN WITNESS WHEREOF, the
Parties have executed this Agreement as of the date first written
above.

      

      

      
        
          
            
              
                
                  	
                          NXT
      NUTRITIONALS HOLDINGS, INC.

                        
	 
      
	
                          /s/ Frances McCarthy

                        
	
                          By:   Frances
      McCarthy

                        
	
                          Title:
      Chief Executive Officer

                        
	 
      
	 
      
	
                          EXECUTIVE

                        
	 
      
	
                          /s/ David
      Briones

                        
	
                          By:    David
      Brionesf8kex10iii_nxt.htm

    Exhibit 10.3

     

    

    LOCK-UP
AGREEMENT

     

    THIS LOCK-UP AGREEMENT (“Agreement”) is made and entered into
this 12th day of February, 2009, by and among NXT Nutritionals Holdings, Inc., a
Delaware corporation (the “Company”), and the
parties listed on Schedule A attached
hereto and made a part hereof (collectively, the “Management
Shareholders”). Captialized terms used herein without definition shall
have the same meanings assigned to such term in the share exchange agreement
entered into by and among the Company, NXT Nutritionals, Inc., a Delaware
corporation ( “NXT
Nutritionals”), and the shareholders of NXT Nutritionals.

    

    RECITALS

    

               WHEREAS, in connection within
a share exchange transction effective as of the date hereof, the Company issued
an aggretate of 22,480,000 shares of its common stock, par value $0.001 per
share (the “Common
Stock”) to the NXT Shareholders, of which 7,826,000 shares of common
stock were issued to the Management Shareholders, in exchange for 100% of the
equity interest in NXT Nutritionals (the “Share Exchange”);
and

    

    WHEREAS, in order to induce
the Company and the Management Shareholders to enter into the Share Exchange,
the Management Shareholders have agreed not to sell or otherwise dispose of any
shares of the Common Stock that the Management Shareholders presently own on the
date hereof (collectively, the “Lock-Up Shares”).

    

               NOW THEREFORE, for
consideration received, the sufficiency and receipt of which is hereby
acknowledged, the parties hereto agree as follows:

    

    1.           Agreement to Retain the
Shares.

    

    (a)           Except
for one million (1,000,000) shares held in escrow pursuant to Unit Purchase
Agreement dated October 31, 2008 by and among NXT Nutritionals, Healthy Dairy,
LLC, NXT LLC, Healthy Brands, LLC and the Unitholders of Healthy Dairy, LLC and
NXT, LLC, the Management Shareholders hereby agree not to sell, assign,
transfer, or otherwise dispose of any of the Lock-Up Shares during the period
beginning on and including the date hereof, which is also the date of the final
closing of the Share Exchage, through the date that is eighteen (18) months
following the closing date of the Share Exchange (the “Closing Date”) (the
“Lock-Up
Period”).

    

    (b)           The
Management Shareholders agree and consent to the entry of stop transfer
instructions with the Company’s transfer agent for the Company’s Common Stock
against transfers of the Lock-Up Shares, if any, by a Management Shareholder in
contravention of the restrictions set forth herein. The Management Shareholders
understand that their agreement is irrevocable and shall be binding upon their
heirs, legal representatives, successors and assigns.

    

    2.           Ownership.    During
the Lock-Up Period, the Management Shareholders shall retain all rights of
ownership in the Lock-Up Shares, including, without limitation, voting
rights

    

    
      
        
           

        

        
           

          
            

          

        

        
           

        

      

    

    

    and the
right to receive any dividends that may be declared in respect thereof, except
as otherwise provided in the Transaction Documents whereby any benefits, rights,
title or otherwise shall inure to the Purchasers.

     

    3.    Company
and Transfer Agent.  The Company is
hereby authorized and required to disclose the existence of this Agreement to
its transfer agent. The Company and its transfer agent are hereby authorized and
required to decline to make any transfer of the Common Stock if such transfer
would constitute a violation or breach of this Agreement and/or the Securities
Purchase Agreement.

    

    4.           Representations,
Warranties and Covenants of the Company. The Company represents,
warrants and covenants to the Management Shareholders that this
Agreement

    

    (a) has
been authorized by all necessary corporate action on the part of the Company and
has been duly executed by a duly authorized officer of the Company,
and

    

    (b)
constitutes the legal, valid and binding obligation of the
Company.  Neither the execution of this Agreement by the Company nor
the consummation of the transactions contemplated hereby will result in a breach
or violation of the terms of any agreement by which the Company is bound, or of
any decree, judgment, order, law or regulation now in effect of any court or
other governmental body applicable to the Company.

    

    5.           Additional
Documents.  The Management
Shareholders and the Company hereby covenant and agree to execute and deliver
any additional documents necessary or desirable, in the reasonable opinion of
the Company’s legal counsel to carry out the intent of this
Agreement.

     

    6.    Notices. All notices, demands,
consents, requests, instructions and other communications to be given or
delivered or permitted under or by reason of the provisions of this Agreement or
in connection with the transactions contemplated hereby shall be in writing and
shall be deemed to be delivered and received by the intended recipient as
follows: (i) if personally delivered, on the business day of such delivery (as
evidenced by the receipt of the personal delivery service), (ii) if mailed
certified or registered mail return receipt requested, two (2) business days
after being mailed, (iii) if delivered by overnight courier (with all charges
having been prepaid), on the business day of such delivery (as evidenced by the
receipt of the overnight courier service of recognized standing), or (iv) if
delivered by facsimile transmission, on the business day of such delivery if
sent by 6:00 p.m. in the time zone of the recipient, or if sent after that time,
on the next succeeding business day (as evidenced by the printed confirmation of
delivery generated by the sending party’s telecopier machine). If any notice,
demand, consent, request, instruction or other communication cannot be delivered
because of a changed address of which no notice was given (in accordance with
this Section 4), or the refusal to accept same, the notice, demand, consent,
request, instruction or other communication shall be deemed received on the
second business day the notice is sent (as evidenced by a sworn affidavit of the
sender). All such notices, demands, consents, requests, instructions and other
communications will be sent to the following addresses or facsimile numbers as
applicable.

     

    If to the
Company:

    

    
      
        
           

        

        
           

          
            

          

        

        
           

        

      

    

    

    

    NXT
Nutritionals Holdings, Inc.

    718
Richfield Avenue

    Kenilworth,
New Jersey 07033

    

    with a
copy (which does not constitute a notice) to:

    

    Anslow
& Jaclin, LLP

    195 Route
9 South, Suite 204

    Manalapan,
NJ 07726

    Attn:
Kristina Trauger, Esq.

                   
Fax: (732) 577-1188

    

    If to a
Management Shareholder, to the address set forth on Schedule A attached
hereto.

     

    or to
such other address as any party may specify by notice given to the other party
in accordance with this Section 6.

     

    7.     Entire
Agreement. This
Agreement contains the entire understanding and agreement of the parties
relating to the subject matter hereof and supersedes all prior and/or
contemporaneous understandings and agreements of any kind and nature (whether
written or oral) among the parties with respect to such subject
matter.

     

    8.     Governing
Law. This
Agreement shall be governed by and construed in accordance with the laws of the
State of Delaware applicable to agreements made and to be performed in that
state, without regard to any of its principles of conflicts of laws or other
laws which would result in the application of the laws of another jurisdiction.
This Agreement shall be construed and interpreted without regard to any
presumption against the party causing this Agreement to be drafted.

     

    9.     Waiver of
Jury Trial. EACH
OF THE PARTIES HERETO HEREBY UNCONDITIONALLY AND IRREVOCABLY WAIVES THE RIGHT TO
A TRIAL BY JURY IN ANY ACTION, SUIT OR PROCEEDING ARISING OUT OF OR RELATING TO
THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY. EACH OF THE PARTIES
UNCONDITIONALLY AND IRREVOCABLY CONSENTS TO THE EXCLUSIVE JURISDICTION OF THE
COURTS OF THE STATE OF NEW YORK LOCATED IN NEW YORK COUNTY AND THE FEDERAL
DISTRICT COURT FOR THE SOUTHERN DISTRICT OF NEW YORK WITH RESPECT TO ANY SUIT,
ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE
TRANSACTIONS CONTEMPLATED HEREBY, AND EACH OF THE PARTIES HEREBY UNCONDITIONALLY
AND IRREVOCABLY WAIVES ANY OBJECTION TO VENUE IN NEW YORK COUNTY OR SUCH
DISTRICT, AND AGREES THAT SERVICE OF ANY SUMMONS, COMPLAINT, NOTICE OR OTHER
PROCESS RELATING TO SUCH SUIT, ACTION OR OTHER PROCEEDING MAY BE EFFECTED IN THE
MANNER PROVIDED IN SECTION 4.

     

    10.     Severability.
The parties agree that if any provision of this Agreement be held

    

    
      
        
           

        

        
           

          
            

          

        

        
           

        

      

    

    

    to be
invalid, illegal or unenforceable in any jurisdiction, that holding shall be
effective only to the extent of such invalidity, illegally or unenforceability
without invalidating or rendering illegal or unenforceable the remaining
provisions hereof, and any such invalidity, illegally or unenforceability in any
jurisdiction shall not invalidate or render unenforceable such provision in any
other jurisdiction. It is the intent of the parties that this Agreement be fully
enforced to the fullest extent permitted by applicable law.

     

    11.     Binding
Effect; Assignment. This Agreement and the
rights and obligations hereunder may not be assigned by any Shareholder hereto
without the prior written consent of the Company. This Agreement shall be
binding upon and shall inure to the benefit of the parties hereto and their
respective successors and permitted assigns.

     

    12.     Headings. The section headings
contained in this Agreement (including, without limitation, section headings and
headings in the exhibits and schedules) are inserted for reference purposes only
and shall not affect in any way the meaning, construction or interpretation of
this Agreement. Any reference to the masculine, feminine, or neuter gender shall
be a reference to such other gender as is appropriate. References to the
singular shall include the plural and vice versa.

     

    13.     Counterparts.
This Agreement may be executed in two or more counterparts, and by the different
parties hereto in separate counterparts, by facsimile or other electronic
transmission, each of which when executed shall be deemed to be an original, and
all of which, when taken together, shall constitute one and the same document.
This Agreement shall become effective when one or more counterparts, taken
together, shall have been executed and delivered by all of the parties
hereto.

     

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OF PAGE INTENTIONALLY LEFT BLANK]

     

     

     

    

    
      
        
           

        

        
           

          
            

          

        

        
           

        

      

    

    

    

    IN
WITNESS WHEREOF, the parties have executed this Agreement as of the date first
written above herein.

    

    
      	
               

               

                                    NXT NUTRITIONALS
      HOLDINGS, INC.

               

               

               

              By:   /s/ Francis
      McCarthy        

              Name:  Francis
      McCarthy

              Title:
      Chief Executive Officer

               

               

            
	 
      

    

     

     

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

     

     

     

     

    MANAGEMENT
SHAREHOLDERS

    
 

    
      
        
          	
                  Name

                	
                  Signature

                	
                  Date

                
	
                  Francis
      McCarthy, President, CEO, CFO, Director

                	
                  /s/ Francis McCarthy

                	
                  February
      12, 2009

                
	
                  Joshua
      Rosenbaum, Director

                	
                  /s/ Joshua Rosenbaum

                	
                  February
      12, 2009

                
	
                  Richard
      M. Jordan, Director

                	
                  /s/ Richard M. Jordan

                	
                  February
      12, 2009

                
	
                  Mark
      A. Giresi, Director

                	
                  /s/ Mark A. Giresi

                	
                  February
      12, 2009

                
	
                  Theodore
      Mandes, II, Director

                	
                  /s/ Theodore Mandes, II

                	
                  February
      12, 2009

                

        

      

    

     

     

     

     

    

    
      
        
           

        

        
           

          
            

          

        

        
           

        

      

    

    

    Schedule A

    

    Name                                                                                                                                       Shares

    
      	
              
                Francis
      McCarthy, President, CEO, CFO, Director

              

            	 
      	 
      	
              
                4,136,000

              

            
	
              
                Joshua
      Rosenbaum, Director

              

            	 
      	 
      	
              
                1,910,000

              

            
	
              
                Richard
      M. Jordan, Director

              

            	 
      	 
      	
              
                250,000

              

            
	
              
                Mark
      A. Giresi, Director

              

            	 
      	 
      	
              
                765,000

              

            
	
              
                Theodore
      Mandes, II, Director

              

            	 
      	 
      	
              
                765,000

              

            
	Total 	 	 	
                 7,826,000

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00152-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00152-of-00352.parquet"}]]