Document:

Exhibit 10.5

 

NUTRIBAND, INC.

121 S. Orange Ave., Suite 1500

Orlando Florida 32801

 

August 22, 2018

[name and address]

 

Re: Service as Independent Director

 

Dear:

 

Nutriband, Inc., a
Nevada corporation (the “Company”), is pleased that you have agreed to serve as a member of its Board
of Directors (the “Board”).  We believe your background and experience will be a significant
asset to the Company, and we look forward to your participation on the Board. You agree to serve on such committees of the board
of directors and, if appointed, you agree to serve as chairman of the audit committee. This letter agreement (this “Agreement”)
shall constitute an agreement between you and the Company relating to your service as a director of the Company.

 

1. Term.  This
Agreement is effective as of the date of this Agreement. Your term as director shall continue until your successor is elected and
qualified or your earlier resignation.  The position shall be up for re-election each year at the annual stockholder’s
meeting and upon re-election, the terms and provisions of this Agreement shall remain in full force and effect.

 

2. Services.  You
shall render services to the Company as a member of the Board (hereinafter, your “Duties”). During the
term of this Agreement, you shall use your commercially reasonable efforts to attend and participate in such number of meetings
of the Board and of the committees of which you may become a member (if any) as regularly or specially called. You may attend and
participate at each such meeting, via teleconference, video conference or in person. You shall consult with the other members of
the Board and committee (if any) regularly and as necessary via telephone, electronic mail or other forms of correspondence. In
accordance with the requirements of Nevada law, in performing your Duties as a member of the Board, you will use due care and act
in the best interests of the Company and its stockholders.

 

3. Services
for Others.  Subject to the terms and conditions of this Agreement, including Sections 8 and 9, you shall be
free to represent or perform services for other persons during the term of this Agreement. 

 

4. Compensation.

 

a. As
compensation for your services to the Company during the first year of your service, you will receive upon execution of this Agreement
a grant of 5,000 shares (the “Shares”) of the Company’s common stock, par value $0.001 per share. As used in
this agreement, the first year shall mean the period commencing on the date of your appointment as a director until the earlier
of (a) the first anniversary of such date or (b) the date of the 2019 annual meeting of stockholders or the date on which the election
of directors by a consent by the holders of a majority of the outstanding common stock becomes effective. Compensation for years
following the first year shall be negotiated between the Company and you.

 

     

     

    

 

b. You
acknowledge that the Shares are “restricted securities” within the meaning of Rule 144 of the Securities and Exchange
Commission under the Securities Act of 1933, as amended, and therefore may not be sold or otherwise disposed of by you in any manner
that would constitute a violation of any applicable federal or state securities laws, any rules of any national securities exchange
on which the Company’s securities may be traded, listed or quoted, or in violation of Company policy. You understand that
the certificate(s) the Shares will contain the Company’s standard restrictive legend.

 

c. You
acknowledge that you will not sell or aid or assist others in selling and shares of the Company’s common stock, including,
but not limited to, the Shares when you are in possession of material nonpublic information, which is information that would affect
the market value or trading of the Company’s common stock and that has not been disseminated to the general public,. You
further agree that you will not sell any shares of the Company’s common stock during a quiet period, which is applicable
to all directors, executive officers and certain other key employees, which means the period in each fiscal quarter which begins
on the 15th day of the last month in the quarter and ends on the day following the date of a public announcement by
the Company of its earnings for the quarter or year, as the case may be. You shall also be subject to such prior sale notification
policies as may be adopted from time to time by the Board.

 

d. You
understand that, as a director of the Company, you are subject to the short-swing profit rules under Section 16 of the Securities
Exchange Act of 1934.

 

5. Expense
Reimbursement. You shall be reimbursed for your reasonable documented out-of-pocket expenses incurred by you in connection
with the performance of your Duties (including travel expenses for in-person meetings).

 

6. Indemnification;
D&O Insurance Policy. The Company shall indemnify you as a director of the Company to the maximum extent provided by
the laws of the State of Nevada; provided, that no amendment which reduces the Company’s indemnification obligation shall
affect or impair your right to indemnification as in effect prior to such amendment for claims for indemnification that relate
to events and matters that arose prior to such amendment. During the term under this Agreement, the Company keep in force and shall
include you as an insured under its officers and directors insurance policy.

 

7. No
Assignment.  Because of the personal nature of the services to be rendered by you, this Agreement may not be
assigned by you without the prior written consent of the Company.

 

8. Confidential
Information; Non-Disclosure.  In consideration of your access to certain Confidential Information (as defined
below), in connection with your Duties, you hereby represent and agree as follows:

 

a. Definition.  For
purposes of this Agreement the term “Confidential Information” means: (i) any information which is considered
as material nonpublic information, (ii) trade secrets, proprietary information and any information concerning products, processes,
formulas, designs, inventions (whether or not patentable or registrable under copyright or similar laws, and whether or not reduced
to practice), discoveries, concepts, ideas, improvements, techniques, methods, research, development and test results, specifications,
data, designs, drawings, laboratory notebooks, know-how, software, technology, engineering, hardware configuration information,
formats, product plans, marketing plans and analyses, business plans and analyses, strategies, pricing and costs, budgets, forecasts,
licenses, customer and supplier identities, characteristics and agreements, whether such information is obtained in writing, orally
or by drawings or observation, and whether or not such information is marked or otherwise identified as “Confidential”;
(iii) information relating to discussions at meetings of the Board. Confidential Information also includes information of third
parties provided to the Company or its subsidiaries on a confidential basis where the Company or its subsidiary has an obligation
of confidentiality to such third party. Notwithstanding the foregoing, the term Confidential Information shall not include: (i)
any information which becomes generally available or is readily available to the public other than as a result of a breach by you
of this Agreement or any other confidentiality obligations that you might have to the Company or any of its subsidiaries; (ii) information
received from a third party (that is not an agent or representative of the Company or any of its subsidiaries) in rightful and
legal possession of such information who is not restricted (whether by law, contract, professional obligations or otherwise) from
disclosing such information; (iii) information known by you prior to receipt of such information from the Company or its subsidiaries
or their respective agents or representatives, which prior knowledge can be documented by your files and records in existence prior
to your receipt of such information from the Company or its subsidiaries or their respective agents or representatives.

 

    2

     

    

 

b. Documents.
You agree that, without the express written consent of the Company, you will not remove from the premises of the Company or any
of its subsidiaries or from its computer servers any notes, formulas, programs, data, records, machines or any other documents
or items which in any manner contain or constitute Confidential Information, nor will you make reproductions or copies of same.  You
shall promptly return any such documents or items, along with any reproductions or copies to the Company upon the Company’s
demand, upon expiration of expiration of your term as a director or your resignation; except that, to the extent that you may be
required by law or regulation of a governmental or self-regulatory body to retain copies of any documents, you may archive such
documents on your computer system, which shall remain subject to the confidentiality provisions of this Agreement..

 

c. Confidentiality.  You
agree that you will hold in trust and confidence all Confidential Information and will not disclose to others, directly or indirectly,
any Confidential Information or anything relating to such information without the prior written consent of the Company, except
as may be necessary or appropriate in the course of performing your Duties.  You further agree that you will not use
any Confidential Information without the prior written consent of the Company, except as may be necessary in the course of performing
your Duties. Notwithstanding the foregoing, you may disclose Confidential Information to your legal counsel and accounting advisors
who have a need to know such information for accounting or tax purposes and who agree to be bound by the provisions of this Section
8. In the event that you are required to disclose Confidential Information pursuant to a valid order of a court or other governmental
or self-regulatory body, you may disclose such Confidential Information, so long as you first (i) to the fullest extent possible,
provide the Company reasonable notice and an opportunity to interpose an objection to such disclosure or obtain a protective order
requiring that the Confidential Information so disclosed be provided on a confidential basis only for the purposes for which the
order was issued, (ii) reasonably cooperate, at the Company’s cost, with the Company’s efforts under clause (i) above,
as reasonably requested by the Company (including efforts by the Company to seek a protective or other similar order or relief),
and (iii) minimize the extent of any such disclosure to only that which (on the advice of your legal counsel) is required to be
disclosed in the applicable context. In no event will you directly or indirectly oppose action by the Company or any of its affiliates
to obtain a protective order or other relief to prevent the disclosure of Confidential Information or to obtain reliable assurances
that confidential treatment will be afforded the Confidential Information.

 

9. Non-Solicitation.  
During the term of your appointment and for a period of one year after you cease to be a director for any reason, you will not,
either on your own behalf or on behalf of any other person or entity (other than in the performance of your Duties), directly or
indirectly: (i) hire or engage as an employee, independent contractor, consultant or otherwise any Covered Personnel (as defined
below); (ii) solicit, induce, encourage or otherwise cause (or attempt to do any of the foregoing) any Covered Personnel to leave
the service (whether as an employee, consultant or independent contractor) of the Company or any of its subsidiaries; or (iii)
in any way interfere with or attempt to interfere with the relationship between any Covered Personnel and the Company or any of
its subsidiaries. For purposes of this Agreement, “Covered Personnel” means any person who is at such
time or was a key employee of the Company or any of its subsidiaries during the one (1) year period prior thereto; provided,
however, that you will not be deemed to have violated this Section 9 if any Covered Personnel voluntarily and independently
solicits an offer of employment from you (or other person or entity whom you are acting on behalf of) by responding to a general
advertisement or solicitation program conducted by you or on your behalf (or on behalf of such other person or entity whom you
are acting on behalf of) that is not targeted at such Covered Personnel or Covered Personnel generally.

 

    3

     

    

 

10. Termination
and Resignation.  Your membership on the Board may be terminated for any or no reason by a vote of the Company’s
stockholders in accordance with the Company’s bylaws and the laws of the State of Nevada. Membership on any committee of
the Board is at the discretion of the Board.

 

11. Governing
Law; Arbitration. This Agreement and your rights under this Agreement shall be governed by the laws of the State of Nevada
applicable to agreements executed and to be performed wholly within such state without regard to conflicts of law Except as expressly
provided in Section 11(b), any dispute arising from this agreement and your performance of your Duties, including any action seeking
injunctive relief as permitted by this Agreement, shall be resolved by binding arbitration in Las Vegas, Nevada in accordance with
the rules of the American Arbitration Association. The arbitrator shall have no authority to modify any express provision of this
Agreement unless such provision is in violation of the laws of the State of Nevada.

 

12. Severability.
Each provision of this Agreement is separable from every other provision of this Agreement, and if any provision of this Agreement
is found or held to be invalid, illegal or unenforceable, in whole or in part, by an arbitrator or by a court of competent jurisdiction,
then (i) such provision will be deemed amended to conform to applicable laws so as to be valid, legal and enforceable to the fullest
possible extent, (ii) the invalidity, illegality or unenforceability of such provision will not affect the validity, legality or
enforceability of such provision under any other circumstances or in any other jurisdiction, and (iii) the invalidity, illegality
or unenforceability of such provision will not affect the validity, legality or enforceability of the remainder of such provision
or the validity, legality or enforceability of any other provision of this Agreement. The parties will substitute for any invalid,
illegal or unenforceable provision a suitable and equitable provision that carries out, so far as may be valid, legal and enforceable,
the intent and purpose of such invalid, illegal or unenforceable provision. Without limiting the foregoing, if any court of competent
jurisdiction or arbitrator determines that any part of Section 8 or 9 is unenforceable because of the duration, geographic area
covered, scope of such provision, or otherwise, such court or arbitrator will have the power to reduce the duration, geographic
area covered or scope of such provision, as the case may be, and, in its reduced form, such provision will then be enforceable,
you will, at the Company’s request, join the Company in requesting that such court or arbitrator take such action, and hereby
agree that upon any such determination by any such court or arbitrator, you shall enter into an amendment to this Agreement to
modify the terms of this Agreement to comply with the terms determined by such court as enforceable and permissible by applicable
law.

 

13. Remedies.
The rights and remedies provided in this Agreement and all other rights and remedies available to either party at law or in equity
are cumulative and not exclusive of any other right or remedy now or hereafter available at law or in equity. You hereby agree
that your obligations under this Agreement, including Sections 8 and 9, are necessary and reasonable in order to protect the Company
and its subsidiaries and their respective businesses, and expressly agree that monetary damages may be inadequate to compensate
the Company or its subsidiaries for any breach of any covenant or agreement set forth herein. Accordingly, you hereby agree and
acknowledge that any such breach, or any threatened breach, will cause irreparable injury to the Company and its subsidiaries and
that, in addition to any other remedies that may be available, in law, in equity or otherwise, the Company shall be entitled to
obtain injunctive relief against the breach or threatened breach of this Agreement or the continuation of any such breach, without
the necessity of proving actual damages and without the necessity of posting bond or other security. In the event that either party
shall prevail on substantially all issues in dispute, the prevailing party shall be entitled to recover its reasonable expenses,
attorneys’ fees and costs incurred therein or in the enforcement or collection of any judgment or award rendered therein.

 

    4

     

    

 

14. Entire
Agreement; Amendment; Waiver.  This Agreement expresses the entire understanding with respect to the subject
matter hereof and supersedes and terminates any prior oral or written agreements or understandings with respect to the subject
matter hereof.  Any term of this Agreement may be amended and observance of any term of this Agreement may be waived
only with the written consent of the parties hereto in the case of an amendment or by the party granting the waiver in the case
of a waiver.  Waiver of any term or condition of this Agreement by any party shall not be construed as a waiver of any
subsequent breach or failure of the same term or condition or waiver of any other term or condition of this Agreement.  The
failure of any party at any time to require performance by the other party of any provision of this Agreement shall not affect
the right of such party to require future performance of such provision or any other provision of this Agreement.

 

15. Counterparts.
This Agreement may be executed in separate counterparts each of which will be an original and all of which taken together will
constitute one and the same agreement, and may be executed using facsimiles (including via pdf or other electronic document delivery)
of signatures, and a facsimile of a signature shall be deemed to be the same, and equally enforceable, as an original of such signature.

 

16. Interpretation.
The section headings in this Agreement are for reference purposes only and shall not be deemed to be a part of this Agreement or
to affect the meaning or interpretation of this Agreement. In this Agreement: (i) the words “include,” “includes”
and “including” when used herein shall be deemed in each case to be followed by the words “without limitation”;
(ii) the definitions contained herein are applicable to the singular as well as the plural forms of such terms; (iii) whenever
required by the context, any pronoun shall include the corresponding masculine, feminine or neuter forms, and the singular form
of nouns, pronouns and verbs shall include the plural and vice versa; and (iv) the words “herein,” “hereto,”
and “hereby” and other words of similar import shall be deemed in each case to refer to this Agreement as a whole and
not to any particular Section or other subdivision of this Agreement.

 

17. Not
an Employment Agreement.   This Agreement is not an employment agreement, and shall not be construed or interpreted
to create any right for you to be employed by the Company.

 

 

 

 

[Signature page follows]

 

    5

     

    

 

This Agreement has been executed and delivered
by the undersigned and is made effective as of the date set first set forth above.

 

	 	Sincerely,
	 	 
	 	NUTRIBAND INC.
	 	 
	 	By:	 
	 	 	Gareth Sheridan, CEO

 

	AGREED AND ACCEPTED:	 
	 	 
	 	 

 

 

 

 

[Signature Page to Independent Director
Agreement]Exhibit 10.6

 

EXCLUSIVE
MASTER DISTRIBUTION AGREEMENT 

BETWEEN 

NUTRIBAND,
INC. AND BEST CHOICE (EMI), INC.

 

THIS
EXCLUSIVE MASTER DISTRIBUTION AGREEMENT (this “Agreement”) is made as of the last date of signature (“Effective
Date”), by and between Nutriband, INC., a Nevada Corporation, having its principal office located at Celtic Ct, 309 Oviedo,
FL 32765, U.S.A, (hereinafter referred to as the “COMPANY’’), and Best Choice Inc., (EMI), having its principle
office located at 3399 #39, Saimdang-ro, Seocho-gu, Seoul, Republic of Korea, (hereinafter referred to as the “DISTRIBUTOR”),
collectively the “Parties”.

 

RECITALS

 

	 	A.	Distributor
    desires to be the exclusive Master distributor of any and all of the COMPANY’s current or future Nutriband products
    (the “Products”), in certain territories more fully described herein (the “Exclusive Territories”);
    and

 

	 	B.	The
    COMPANY desires to appoint DISTRIBUTOR as the Exclusive Master Distributor of the COMPANY’s Products in the Exclusive
    Territories and will provide DISTRIBUTOR with Confidential Information regarding the products, pursuant to the protections
    afforded the COMPANY herein, in order for DISTRIBUTOR to distribute said Products in the Exclusive Territories.

 

NOW
THEREFORE, in consideration of the mutual promises and agreements set forth herein, and other good and valuable consideration,
the receipt and sufficiency of which is hereby acknowledged, the Parties hereby agree as follows:

 

	l.	Recitals.

 

The
recitals as set forth above are incorporated herein and made a part of this Agreement.

 

	2.	Exclusive Territories.

 

The
Exclusive Territories shall be all of South Korea, Taiwan, the South Asia Countries, and Peoples Republic of China.

 

	3.	Appointment of Distributor
    and Exclusivity.

 

	 	(a)	The
    COMPANY hereby appoints the DISTRIBUTOR as its sole and exclusive master distributor of Nutriband Consumer Products and future
    line of Consumer products within the Exclusive Territories.

 

	 	(b)	DISTRIBUTOR
    may nominate affiliated or other companies to sell and/or market and distribute the Nutriband Consumer Products in the Exclusive
    Territories (“Sub-Distributors”), provided however such Sub-Distributors agree in writing to be bound by the terms
    of the Master Agreement and this Agreement,

 

	 	(c)	DISTRTBUTOR shall be
    responsible for any breaches of the Master Distribution Agreement.

 

	 	(d)	Consumer
    products are defined as Non-RX, non-diagnostic, non-medical and not requiring prescription or OTC labelling. Examples contain
    but are not limited to Nutriband Energy patch, Vitamin and ‘Mosquito repellant’

 

Agreement
or this Agreement made by such Sub-Distributor in the same manner as if any such breach was made by DISTRIUTOR itself.

 

	 	(e)	DISTRIBUTOR
    shall purchase the Products directly from the COMPANY (or any agent or third party designated by the COMPANY in writing) in
    DISTRIBUTOR’s own name and for DISTRIBUTOR’s own account and risk.

 

	 	(f)	DISTRIBUTOR
    may sell and/or lease the Products to third parties provided however, DISTRJBUTOR shall not sell and/or lease the Products
    to any third party that intends to market, sell or distribute the Products in China.

 

     

     

    

 

	 	(g)	DISTRIBUTOR
    shall use commercially reasonable efforts in promoting the Products which shall include but not be limited to marketing and
    advertising the COMPANY’s Products.

 

	 	(e)	The
    COMPANY shall direct and turn over any new requests for the Product or orders for the Product within the Exclusive Territories
    to the DISTRIBUTOR.

 

	 	(f)	Nothing
    in this Agreement shall constitute the right of the DISTRIBUTOR to act as agent for the COMPANY or to represent the COMPANY
    in anyway whatsoever. The DISTRIBUTOR shall have no authority whatsoever to enter into any obligations on behalf of the COMPANY.

 

	 	(g)	DISTRIBUTOR
    acknowledges that proprietary information is embodied in the Products and all data, information and materials supplied by
    the COMPANY to the DISTRIBUTOR or acquired by the DISTRIBUTOR in performance of this Agreement. DISTRIBUTOR agrees not to
    use. appropriate or disclose to others any such proprietary information, except as may be expressly permitted in writing by
    the COMPANY. DISTRIBUTOR agrees that all proprietary rights relating to the Products, including all copyrights, patents and
    trade secrets and all trade names, trademarks and service marks used or promoted by the COMPANY, the DISTRIBUTOR or their
    respective agents with respect to the Products are the sole and exclusive property of the COMPANY.

 

	 	(h)	The
    COMPANY understands and agrees DISTRIBUTOR shall enter into a similar distribution agreement with Kim Jung Suk, (Everycare),
    Seoul, Kang nam gu, Gaepho dong, Gaepho 4 dong, 1231-16 B1, Korea. or an entity to be designated by Kim Nam Hun, appointing
    him or the designated entity as the exclusive distributor in the exclusive territory of the Seoul, Korea. Notwithstanding
    anything contained herein to the contrary, said distribution agreement shall be executed as soon as practicable upon terms
    similar to this Agreement including provisions for no cost charged to be designated and appointed the exclusive distributor
    for the Seoul, Korea and contain annual purchase minimums for purchase of the Products as required in Sections 7 and 8 of
    this Agreement.

 

	4.	Purchase and Sale
    of the COMPANY’s Products

 

	 	(a)	The
    COMPANY shall sell Products to DISTRIBUTOR at a price no greater than the lowest price plus 5% sold to anyone, anywhere, regardless
    of quantity. The purchase price of all Products sold to the Distributor shall be paid to the Company in U.S. dollar currency
    (“U.S. USD”).

 

	 	(b)	The
    COMPANY shall provide the DISTRIBUTOR at least ninety (90) days’ notice of any pricing increase. Any price increase
    shall be limited to ten percent (10%) and there shall not be more than one (1) price increase in any given twelve (12) month
    period.

 

	 	(c)	The
    DISTRIBUTOR shall have the right to purchase a minimum of fifty percent (50%) of the production capacity of the COMPANY’s
    manufacturing capacity, per Product, of the COMPANY’s Products.

 

	 	(d)	DISTRIBUTOR
    shall have the right to assemble the Products itself or through affiliated third parties in Korea, provided however that all
    proprietary rights relating to the Products including all copyrights, patents, trade secrets, trade names, trademarks and
    service marks used or promoted by either the COMPANY, the DISTRUBTOR or their respective agents with respect to the Products
    are the sole and exclusive property of the COMPANY and any such Sub-Contractors shall be bound by this Agreement. The COMPANY
    shall cooperate with the DISTRIBUTOR in establishing any such sub-contracting facilities to insure the highest standard of
    quality control. In the event that the DISTRIBUTOR intends to assemble the Products elsewhere, it shall inform the COMPANY
    in writing as soon as practicable.

 

assembling
the Products as described in this Section 4(d) because the COMPANY is unable or refuses to till purchase orders in a timely manner.

 

	 	(e)	The
    DISTIBUTOR may charge any such price for its sale of the Products as the DISTRIBUTOR deems best within the Exclusive Territories.

 

	 	(f)	The
    COMPANY shall till each and every order presented to it in as timely a manner as is commercially reasonable. The DISTRIBUTOR
    understands and agrees that in the event the COMPANY must manufacture additional
inventory in order to till a purchase order presented to it by the DISTRIBUTOR, delivery may be delayed because of time and capital
needed to manufacture. The COMPANY may require the DISTRIBUTOR to make a deposit not to exceed one-half of the purchase price
of the Products (which deposit shall be credited against the total purchase price of the Products) prior to shipment of the Products
needed to till such purchase order.

   

    2

     

    

 

	 	(g)	The
    COMPANY shall be responsible for shipping logistics on items sent to assembly destinations specified by the DISTRJBUTOR. Shipping
    costs and any tax and/or tariffs associated with the shipment shall be paid by the DISTRIBUTOR, provided however in an effort
    to minimize these costs; the DISTRIBUTOR shall have the right to provide to the COMPANY shipping instructions which the COMPANY
    shall follow in all instances where commercially reasonable. Title to the Products and the risk of loss for the Products sold
    by the COMPANY shall transfer to the DISTRIBUTOR upon arrival, satisfactory inspection and acceptance of the Products by the
    DISTRIBUTOR at the assembly destination specified by the DISTIBUTOR.

 

	 	(h)	The
    COMPANY shall be responsible for all warranty risk under its standard warranties. The COMPANY warrants to the DISTRIBUTOR
    that the Products shall be delivered with all necessary parts and that all necessary parts shall be in proper assemble condition.

 

	 	(i)	The
    COMPANY authorizes the DISTRIBUTOR to perform assembly to the Products. In order for the DISTRIBUTOR to be able to assemble
    complete units of the Products and to perform assembly to the Products, the COMPANY shall provide, on an ongoing basis, to
    the DISTRIBUTOR an adequate supply of assembly parts to expedite assembly of units of the Products that may be received with
    missing or defected parts and to perform reassembly. The DISTRIBUTOR shall return or dispose all damaged, broken and/or defective
    parts to the COMPANY, at the sole discretion of the COMPANY, at DISTRIBUTOR’s cost and expense.

 

	5.	Trademarks.

 

The
COMPANY hereby grants to the DISTRIBUTOR an exclusive license to use any and all trademarks, logos and other markings used by
the COMPANY in the Exclusive Territories to promote and market the Products in the Exclusive Territories.

 

	6.	Marketing and Advertising.

 

All
marketing, advertising and sales campaigns, along with all literature and materials associated therewith, must be preapproved
by the COMPANY, in writing, which approval shall not be unreasonably withheld or delayed. The COMPANY shall provide the DISTRIBUTOR
with examples of the COMPANY’s sales and marketing literature and materials as guidance for the DISTRIBUTOR.

 

	7.	Minimum Purchase
    Requirement.

 

	 	(a)	To
    comply with the annual minimum purchase requirement as described in Section 8(b) below, the minimum annual purchase requirement
    for the next twelve (12) month period beginning from the Effective Date of this Agreement shall be $2,000,000.00 US Dollars.

 

	 	(b)	Should
    the DISTRIBUTOR fail to make the agreed upon annual minimum purchase requirement, the DISTRIBUTOR shall have two (2) additional
    months to purchase the balance of the required annual minimum purchase requirement. In the event that the DISTRIBUTOR fails
    to purchase additional Products to meet the annual minimum purchase requirement, the COMPANY has the right, at its sole discretion,
    to terminate this Agreement. The DISTRIBUTOR shall be relieved from the annual minimum purchase requirement should there be
    a Product recall; should the COMPANY fail to meet its obligations in this Agreement; and/or should the COMPANY fail to deliver
    the Products in a timely manner.

 

	8.	Duration and Termination.

 

	 	(a)	The
    initial term of this Agreement shall be from the Effective Date of this Agreement until April 30, 2019.

 

    3

     

    

 

	 	(b)	This
    agreement shall automatically renew for an additional three (3) years and each five (5) year period thereafter if a minimum
    increase in sales of ten percent (10%) per year or accumulative equivalent or a year by year ten percent (10%) increase is
    achieved by the end of the initial term of this agreement and each
five (5) year period thereafter. The DISTRIBUTOR shall have met its minimum purchase requirement at the end of each
year if the accumulative total of purchases is equal to or greater than the amounts added together as shown on the table
shown below. All amounts shown below in this Section 8(b) shall be in US Dollars.

   

	 	Year	 	Increase	 	 	Minimum	 	 
	 	1	 	 	0.00	%	 	$	2,000,000	 	 
	 	2	 	 	10.00	%	 	$	2,200,000	 	 
	 	3	 	 	10.00	%	 	$	2,662,000	 	 
	 	4	 	 	10.00	%	 	$	2,928,000	 	 
	 	5	 	 	10.00	%	 	$	3,221,020	 	 
	 	6	 	 	10.00	%	 	$	3,543,122	 	 
	 	7	 	 	10.00	%	 	$	3,897,434	 	 
	 	8	 	 	10.00	%	 	$	4,287,177	 	 
	 	9	 	 	10.00	%	 	$	4,715,895	 	 
	 	10	 	 	10.00	%	 	$	5,187,484	 	 
	 	 	 	 	 	 	 	 	 	 	 
	 	1-10	 	 	 	 	 	$	35,062,334	 	 
	 	 	 	 	 	 	 	 	 	 	 
	 	11	 	 	10.00	%	 	$	5,706,233	 	 
	 	12	 	 	10.00	%	 	$	6,276,856	 	 
	 	13	 	 	10.00	%	 	$	6,904,542	 	 
	 	14	 	 	10.00	%	 	$	7,594,996	 	 
	 	15	 	 	10.00	%	 	$	8,354,496	 	 
	 	16	 	 	10.00	%	 	$	9,189,945	 	 
	 	17	 	 	10.00	%	 	$	10,108,940	 	 
	 	18	 	 	10.00	%	 	$	11,119,834	 	 
	 	19	 	 	10.00	%	 	$	12,231,818	 	 
	 	20	 	 	10.00	%	 	$	13,454,999	 	 
	 	 	 	 	 	 	 	 	 	 	 
	 	11-20	 	 	 	 	 	$	90,942,664	 	 

 

	 	(c)	This
    Agreement may be terminated at any time by the DISTRIBUTOR, with or without cause, upon ninety (90) days written notice to
    the COMPANY. The DISTRIBUTOR shall immediately cease representing itself as a distributor of the Products. Each Party shall
    remain liable under this Agreement for any obligation incurred prior to the effective date of termination. The DISTRIBUTOR
    shall have the right to sell any Products in inventory, the right to purchase Products required to fill any orders it has
    on the books at the time of termination of this Agreement, and the right to service any leases in effect or arising therefrom
    until the final expiration of any such leases.

 

	 	(d)	This
    Agreement may be terminated at any time by the COMPANY, but only for cause, upon ninety (90) days written notice to the DISTRIBUTOR
    of the specific cause the COMPANY asserts are the basis for such termination notice. For purposes of this Section 8(d), “cause”
    shall mean a material breach of this Agreement, which upon written notice to the DISTRIBUTOR of the specific cause the COMPANY
    asserts are the basis for such termination notice and the passage of ninety (90) days after receipt of such notice has not
    been cured. A material breach includes, but is not limited to, failure to meet the annual minimum purchase requirement described
    in Section 7 above.

 

	 	(e)	This
    Agreement may be terminated as to a particular Country within the Exclusive Territories upon the DISTRIBUTOR learning and
    advising the COMPANY that it is unable to secure any regulatory/governmental approval to distribute the Products within that
    particular Country in the Exclusive Territories.

 

	 	(f)	This
    Agreement may be terminated as to a particular Country in the Exclusive Territories if any required regulatory/governmental
    approval to distribute the Products within a particular Country in the Exclusive Territories is revoked or suspended.

 

    4

     

    

 

	 	(g)	In
    order for either Party to cure a material breach of this Agreement, it must pay any reasonable and demonstrable damages such
    breach caused the non- breaching Party.

  

	9.	Confidential Information.

 

	 	(a)	For
    the purposes of this Section 9: “Confidential Information” means all information of a confidential or proprietary
    nature (whether or not specifically labeled or identified as “confidential”). including all information, whether
    oral or written or in the form of documents, drawings, specifications, data, reports, formulas. manufacturing processes and/or
    procedures or otherwise, relating to the Products or the operations or assets of any Party and/or the COMPANY except the following:
    (i) information actually known to a Party prior to its disclosure in connection with this Agreement that is unencumbered by
    any confidentiality restriction; (ii) information that a Party can demonstrate was available to the general public or that
    was general industry knowledge at the time of its disclosure to such Party; or which thereafter becomes available to the public
    or becomes general industry knowledge, without a breach of this Agreement by such Party: (iii) information that a Party can
    demonstrate was legally furnished to such Party by a third party having the right to so disclose without restriction on its
    further disclosure; or (iv) information to the extent that a Party may, in the reasonable opinion of its counsel, be compelled
    by legal requirements to disclose, provided such Party uses all reasonable efforts, and to the extent permitted by applicable
    legal requirements, will have afforded the other Parties the opportunity, to obtain an appropriate protective order or other
    satisfactory assurance of confidential treatment, for the information compelled to be disclosed.

  

	 	(b)	Each
    Party shall keep secret and retain in strictest confidence, and shall not use for the benefit of himself, itself or others
    except in connection with the performance of his or its obligations under this Agreement, all Confidential In formation of
    or relating to another Party, and shall not disclose such Confidential Information to any Person other than with the prior
    written consent of the Party that originally acquired or developed such Confidential Information.

 

The
Parties to this Agreement acknowledge and agree that in the event of breach or non-compliance with any of the provisions of this
Section 9,

 

monetary
damages may not constitute a sufficient remedy. Consequently, in the event of such a breach, the non-breaching Party shall be
entitled to Injunctive or other equitable relief, including specific performance, in order to enforce or prevent any violation
of such provisions, in addition to any other rights or remedies to which it may be entitled at law or otherwise.

 

	 	(c)	This Section 9 shall
    survive the termination of this Agreement.

 

	10.	Non-Circumvention.

  

		(a)	The
                                         DISTRIBUTOR understands and agrees that for the entire Duration of this Agreement, except
                                         as otherwise authorized herein, it shall not manufacture, market, sell or distribute
                                         (or assist any other parties to manufacture, market, sell or distribute) any competing
                                         product in the Exclusive Territories or in Korea. Any violation of this Section 10(a)
                                         shall be deemed an attempt to circumvent this Agreement, and the DISTRIBUTOR shall be
                                         liable for any reasonable and demonstrable damages.

 

		(b)	The
                                         COMPANY understands and agrees that for the entire duration of this Agreement plus an
                                         additional three (3) years after this Agreement expires or is otherwise terminated that
                                         it shall not, directly or indirectly circumvent the DISTRI BUTOR to manufacture, market,
                                         sell or distribute (or to assist any other parties to market, sell or distribute) in
                                         the Exclusive Territories. Any violation of this Section 10(b) shall be deemed to be
                                         an attempt to circumvent this Agreement and the COMPANY shall be liable to the DISTRIBUTOR
                                         for any reasonable and demonstrable damages.

 

		(c)	The
                                         COMPANY and/or its affiliates shall not contract, deal with or otherwise become involved
                                         in any transaction with any corporation, partnership, individual, bank, trust or lending
                                         institution which have been introduced by the DISTRIBUTOR without the prior written consent
                                         of the DISTRIBUTOR. Any violation of this Section 10(c) shall be deemed to be an attempt
                                         to circumvent this Agreement and the COMPANY shall be liable to the DISTRIBUTOR for any
                                         reasonable and demonstrable damages.

 

    5

     

    

 

 

	11.	Indemnification.

 

The
COMPANY shall indemnify, hold harmless the DISTRIBUTOR, its agents, successors and/or assigns, employees, shareholders,
directors, officers and/or affiliates from and against all liability, loss, damage, costs, and expenses including reasonable
attorney’s fees and costs resulting from and all causes of action, suits, claims, demands, liabilities, and/or
judgments of any nature whatsoever, arising out of, resulting from and/or relating to any injury, damage to property or
person arising out of and/or resulting from the manufacture of the Products by the COMPANY and brought against the DISTRIBUTOR solely because of the sale and/or lease of the Products by the DISTRIBUTOR under this Agreement. The DISTRIBUTOR shall
indemnify, hold harmless the COMPANY, its agents, successors and/or assigns, employees, shareholders, directors, officers
and/or affiliates from and against all liability, loss, damage, costs, and expenses including reasonable attorney’s
fees and costs resulting from and all causes of action, suits, claims, demands, liabilities and/or judgments of any nature
whatsoever, arising out of, resulting from and/or relating to any injury, damage to property or person arising out of and/or
resulting from the sale and/or lease of the Products by the DISTRIBUTOR only to such extent any such manufacture liability,
loss, damage, costs, and expenses including reasonable attorney’s fees and costs resulting from and all causes of
action, suits, claims, demands, liabilities and/or judgments of any nature whatsoever, arising out of, resulting from and/or
relating to any injury, damage to property or person resulted from the remanufacture or any deviation of specifications
provided to the DISTRIBUTOR by the COMPANY in the manufacture by the DISTRIBUTOR of the Products.

 

	12.	Insurance.

 

The
DISTRIBUTOR shall carry and pay for such insurance, liability or otherwise, as it deems necessary or appropriate.

 

	13.	Securities
    Laws.

 

Certain
of the COMPANY’s and the DISTRIBUTORS securities may become publicly traded. The Parties hereby acknowledge that they are
aware and that their affiliates with knowledge of this Agreement or once they become aware of this Agreement have been advised
or will be advised upon becoming aware of this Agreement of the restrictions imposed in securities laws of the United States and
in the securities laws of the various States of a person possessing material non-public information about a company. The Parties
hereby further acknowledge that they are aware the securities laws of the United States prohibit any person with material non
public information concerning a company or a possible transaction involving a company for purchasing or selling securities in
reliance of such information or from communicating such information to any other person or entity under circumstances in which
it is reasonably foreseeable that such person or entity is likely to purchase or sell such securities in reliance upon such information.
The Parties also agree that, if requested, they will cause their affiliates who have knowledge of this Agreement or who may become
aware of the Agreement to sign a written statement that they have been advised of the foregoing restrictions.

 

	14.	DISPUTE
    RESOLUTION.

 

The
Parties hereby agree that before any action to resolve any issues or disputes related to this Agreement shall first be submitted
to Arbitration.

 

	 	(a)	Arbitration
    of disputes pursuant to this Section 14(a) shall be held in Orlando, Florida under the commercial arbitration rules of the
    American Arbitration Association and shall be heard by three arbitrators selected in accordance with such rules. Each arbitrator
    shall be chosen from the American Arbitration Association ’s Large and Complex Case Panel for the region which includes
    the State of Florida at the time of the arbitration, have at least fifteen years’ experience in the United States as
    an attorney in private practice or in a corporate legal department and shall not be a past or present officer, director or
    employee of, or have, or have had in the past, any interest in or material relationship with, any Party or any affiliate of
    any Party. Any arbitral award shall be in writing in the form of a reasoned opinion, including findings of fact and Conclusions
    of law, which law shall be the law of the State of Florida, and shall be final and binding and may be entered by any Party
    in any state or federal court having jurisdiction thereof. Costs of arbitration (including reasonable attorney’s fees
    and costs) shall be paid either equally by the Parties to the arbitration or in accordance with the decision of the arbitrators.

 

    6

     

    

 

	 	(b)	The
    Parties acknowledge and agree that in the event of breach or non-compliance with this Agreement, monetary damages may not
    constitute a sufficient remedy. Consequently, the non-breaching Party shall be entitled to seek injunctive or other equitable
    relief, including specific performance, in order to enforce or prevent any violation of such provisions, in addition to any
    other rights or remedies to which it may be entitled at law or otherwise, and the other Party shall have the right to oppose
    any proceeding seeking such injunctive or equitable relief. Such equitable relief shall be available to the Parties after
    compliance with this Section 14, except injunctive relief pursuant to Section 9, which shall be available to the Parties without
    the necessity of first using the procedures set forth in this Section 14.

 

	15.	Force
    of Nature.

 

No
Party shall be responsible for delays or failure in performance resulting from acts beyond the reasonable control of such Party.
Such acts include but shall not be limited to acts of God, war, riot, labor stoppages, governmental actions, fires, floods, epidemics
and earthquakes.

 

	16.	Attorney’s
    Fees and Costs.

 

Each
Party to this Agreement will bear the fees and disbursements of their respective lawyers, accountants and consultants engaged
in connection with the preparation of this Agreement and of any and all agreements. instruments, documents or other writings to
be executed and delivered pursuant hereto and all other costs and expenses incurred in connection herewith and therewith.

 

	17.	Choice
    of Law and Venue.

 

To
the extent permitted by law, the provisions of this Agreement shall govern over all provisions of the laws of the State of Nevada.
Otherwise this Agreement shall be governed by the laws of the State of Nevada and the federal law of the United States without
reference to principles of conflict of laws. The Parties agree that in the event of a dispute between the Parties arising out
of this Agreement or the transactions contemplated herein venue for such dispute shall be in the State or Federal Courts located
in Las Vegas, Nevada and the Parties hereby waive any objection to such venue based on forum non-convenient.

 

	18.	Waiver
    of Jury Trial.

 

THE
PARTIES HERETO EACH HEREBY KNOWINGLY, VOLUNTARILY AND INTENTIONALLY WAIVE ANY RIGHTS IT MAY HAVE TO A TRIAL BY JURY IN
RESPECT OF ANY LITIGATION (WHETHER AS CLAIM, COUNTER-CLAIM, AFFIRMATIVE DEFENSE OR OTHERWISE) IN CONNECTION WITH OR IN ANY
WAY RELATED TO THTS AGREEMENT, OR ANY COURSE OF CONDUCT, COURSE OF DEALING, STATEMENTS (WHETHER VERBAL OR WRITTEN), ACTIONS
OR INACTIONS OF THIE MEMBERS OR THE COMPANY.

 

	19.	Assignment.

 

This
Agreement shall inure to the benefit of and be binding upon the Parties and their successors and/or assigns and may be assignable
by the DISTRIBUTOR without the prior written consent of the COMPANY.

 

	20.	Severability.

 

The
invalidity or unenforceability of any particular provision of this Agreement shall not affect the other provisions hereof. and
this Agreement shall be construed in all respects as if such invalid or unenforceable provision were omitted.

 

	21.	Independent
    Contractor.

 

The
Parties agree that the DISTRIBUTOR shall act as an independent contractor in the performance of its duties under this
Agreement. Accordingly, the DISTRIBUTOR shall be responsible for payment of all taxes including Federal, State and local
taxes arising out of the DISTRIBUTOR’s activities in accordance with this Agreement, including by way of illustration
but not limitation, Federal and State income tax, Social Security tax, Unemployment Insurance taxes, and any other taxes or
business license fee as required. No relationship of principal to agent, master to servant, employer to employee or
franchisor to franchisee is established between the Parties in this Agreement. No party shall have the authority to bind the
other Party or to any Liability on behalf of the other Party whatsoever.

 

    7

     

    

 

	22.	No
    Amendment Except in Writing.

 

This
Agreement may be amended only by written instrument executed by the Parties.

 

	23.	Delivery
    of Notices.

 

All
notices or other communications which are required or permitted under this Agreement shall be in writing and hand delivered
or (i) if sent by overnight delivery by U.S. Mail, FedEx, UPS, or other international private carrier, notice shall be deemed
received on the next Business Day; or (ii) if by facsimile notice shall be deemed received when the sender gets its machine
confirmation that the facsimile was successfully transmitted to recipient; provided however, a notice delivered by facsimile
after 5:00 PM local time of the recipient on any day shall be deemed received on the next Business Day. Any notice under this
Agreement that is not hand delivered (which delivery may be affected anywhere) shall be sent to the other Parties at the
address set forth below, or such other location as a Party may designate in a future notice under this Agreement:

 

	If
                            to:	NUTRIBAND,
INC.

309
Oviedo, FL 32765

U.S.A.

 

Fax:
385.881.3385

 

	If
to:	EMI-KOREA
(BEST CHOICE), INC.

3399
#39, Saimdang-ro, Seocho-gu,

Seoul, KOREA

 

Fax:
303.623.5405

 

All
such notices shall be deemed to have been given when received or when delivery is attempted, if acceptance is refused.

 

	24.	No
    Waiver.

 

Failure
by any Party to this Agreement to insist in any one or more instances upon the strict performance of any one of the covenants
contained herein shall not be construed as a waiver or relinquishment of such covenant. No waiver by any Party of any such covenant
shall be deemed to have been made unless expressed in writing and signed by the waiving Party.

 

	25.	Further
    Assurances.

 

From
time to time, each Party to this Agreement will, at the reasonable request of any other Party to this Agreement, take all action,
do all such acts and execute and deliver all agreements, instruments, documents or other writings desired or required by such
other Party so as to fully perform or carry out the terms, intent or purposes of this Agreement.

 

	26.	Interpretation.

 

Throughout
this Agreement, nouns, pronouns and verbs shall be construed as masculine, feminine, neuter. singular or plural, whichever shall
be applicable. All references herein to “Sections” and “paragraphs” shall refer to corresponding provisions
of this Agreement. The words “include,” “includes,” and “including” shall be deemed to be
followed by the phrase “without limitation.” Any reference in this Agreement to a “day” or number of “days”
(without the explicit qualification of “Business’’) shall be interpreted as a reference to a calendar day or
number of calendar days. If any action or notice is to be taken or given on or by a particular calendar day, and such calendar
day is not a Business Day, then such action or notice shall be deferred until, or may be taken or given on, the next Business
Day.

 

    8

     

    

 

	27.	Binding
    Effect.

 

This
Agreement shall be binding upon and shall inure to the benefit of all of the Parties hereto and their respective successors, legal
representatives and permitted assigns. Nothing in this Agreement, express or implied. is intended to confer on any person other
than the Parties hereto or their respective successors, legal representatives or permitted assigns, any rights or remedies under
or by reason of this Agreement.

 

	28.	Cumulative
    Remedies.

 

The
rights and remedies provided by this Agreement are cumulative and the use of any one right or remedy by any party shall not
preclude or waive its right to use any or all other remedies. Said rights and remedies are given in addition to any other
rights the parties may have by law, statute, ordinance or otherwise.

 

	29.	Entire
    Agreement.

 

This
Agreement constitutes the agreement among the Parties hereto pertaining to the subject matter hereof and supersedes all prior
agreements and understanding pertaining thereto.

 

	30.	Counterpart
    Execution.

 

This
Agreement and any document or instrument to be executed and delivered by the Parties hereunder or in connection herewith may be
executed and delivered in separate counterparts and delivered by one Party to the other Parties by facsimile, each of which when
so executed and delivered shall be deemed an original and all such counterparts shall together constitute one and the same agreement.
If this Agreement or any such document or instrument is delivered by facsimile, the Party so delivering this Agreement, or such
document or instrument shall within a reasonable time after such facsimile delivery shall also deliver an originally executed
copy to the other Party.

 

IN
WITNESS WHEREOF the Parties have caused this Agreement to be executed effective upon the date of the last Party to sign below.

 

	 	NUTRIBAND,
    INC.	 	EMI-KOREA
    (BEST CHOICE), INC.
	 	 	 	 	 	 
	 	By:	/s/
    Gareth Sheridan	 	By:	           
	 	 	Gareth
    Sheridan	 	Name:	 
	 	 	CEO	 	Title:	 
	 	 	 	 	 	 
	 	Date:	04/13/2018	 	Date:	 

 

    9

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00297-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00297-of-00352.parquet"}]]