Document:

Exhibit

Exhibit 10.28

COMPENSATION PLAN

Approved May 2007

Revised August 2016

Tennessee Valley Authority
Compensation Plan 

Principles 
Authority 
The Tennessee Valley Authority (“TVA”) Compensation Plan provides the framework for Management, the People and Performance Committee, and the Board of Directors of the Tennessee Valley Authority (“TVA Board”) to establish and manage compensation for all TVA employees in a manner that is in compliance with the TVA Act as amended by the Consolidated Appropriations Act, 2005. The TVA Board approves the Compensation Plan and ensures that it is consistent with the TVA Act and TVA’s Strategic Plan. 
The TVA Act, as amended, provides that the Board will approve and establish a compensation plan for TVA employees which: 
		
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	Specifies all compensation (including salary or any other pay, bonuses, benefits, incentives, and any other form of remuneration) for the Chief Executive Officer (“CEO”) and TVA employees. 

		
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	Shall be based on an annual survey of the prevailing compensation for similar positions in private industry, including engineering and electric utility companies, publicly owned electric utilities, and Federal, State, and local governments. 

		
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	Shall provide that education, experience, level of responsibility, geographic differences, and retention and recruitment needs will be taken into account in determining compensation of employees. 

The TVA Act also provides that: 
		
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	The Board shall approve all compensation (including salary or any other pay, bonuses, benefits, incentives, and any other form of remuneration) of all managers and technical personnel that report directly to the CEO (including any adjustment to compensation). 

		
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	On the recommendation of the CEO, the Board shall approve the salaries of employees whose annual salaries would be in excess of the annual rate payable for positions at Level IV of the Executive schedule. 

		
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	The CEO shall determine the salary and benefits of employees whose annual salary is not greater than the annual rate payable for positions at Level IV of the Executive schedule. 

The Compensation Plan is continuously reviewed to ensure consistency and alignment with TVA’s mission and Strategic Plan. The Compensation Plan includes the following key elements: 

1

Philosophy
TVA’s Compensation Philosophy is based on certain statutory requirements and is designed to attract, engage, and retain the employees needed to accomplish the agency's broad mission. Under the TVA Act, TVA has its own personnel system; however, employees are public servants. 
In their service, many employees are called on to accomplish specialized aspects of the mission safely, reliably and efficiently, and must have the requisite education, experience and professional qualifications. These requirements make it necessary for TVA to offer compensation opportunities to its specialized employees that motivate them to stay with TVA in order to provide TVA with the necessary resources to attract highly qualified candidates for positions similar to those in relevant industries. 
Performance-based compensation is critical to TVA in achieving its strategic goals. A key component of the Compensation Philosophy is a strong orientation toward "pay for performance" which rewards continuous improvement in TVA’s overall performance as well as that of individual business units and individual participants. 
TVA’s Compensation Philosophy is a structured, market, and performance based approach to use when determining pay levels and incentive opportunities.  For those positions requiring specialization, compensation is designed to be comparable to the sector from which TVA would recruit and those likely to recruit TVA employees. 
		
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	Compensation is targeted at the median (50th percentile) of the labor market for most positions 

		
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	Compensation may be targeted above median of the relevant labor market (typically between 50th and 75th percentiles) for certain positions due to market scarcity, recruitment and retention issues, and other business reasons (e.g., Nuclear and Transmission positions)

Competitive compensation levels are determined using relevant labor market data obtained through surveys and proxy reviews and validated through recruitment and periodic supplemental benchmark activities.
Additionally, compensation for TVA trades and labor employees is based on prevailing pay for similar work. Section 3 of the TVA Act requires the prevailing rate of wages for work of a similar nature prevailing in the vicinity be paid to laborers and mechanics whether employed by contractors or directly by TVA.  Compensation for other represented employees is based on total compensation levels, market rates, practices, and methods of payment for similar work in the relevant labor market consistent with applicable labor agreements. 
TVA’s Employee Benefits program offers a competitive benefits package to attract and retain the workforce required for TVA to achieve its mission successfully while prudently managing costs, ensuring optimum use of benefit dollars, engaging employees and retirees to become informed consumers and partnering in managing benefit costs. 

2

TVA maintains a qualified retirement plan for all employees, which is competitive with the relevant labor market. 

Strategy 
Compensation Basis 
Executives, Management & Specialist, and Excluded Employees 
In accordance with the TVA Act, as amended, the level of compensation for Executives, Management and Specialists will be based on annual market survey data that represent prevailing competitive compensation for similar positions in private industry, including engineering and electric utility companies, publicly owned electric utilities, Federal, State and local governments. 
Non-management and specialist employees who are not covered by one of our bargaining units due to the sensitive and confidential nature of their work are categorized as Excluded Employees. Compensation for employees in this category will be based on annual market survey data that represent prevailing competitive compensation for similar positions in the relevant labor market. Compensation for Excluded Employees will be targeted, in general, at the median of the relevant labor market for all positions. 
Represented Employees 
Trades and Labor Represented Employees 
TVA annually conducts a wage survey within a specified geographic vicinity and negotiates with the Trades and Labor Project Agreement Council representing contractor employees from multiple building trades unions to establish an agreed upon prevailing wage rate. Any dispute over what the rate should be may be appealed to the Secretary of Labor under the TVA Act for a final decision. TVA contractors are required to pay these prevailing rates, and unions provide craftspersons to the contractor's job at these rates. The same total wage package applies to all work sites. 
TVA also annually conducts a prevailing wage survey for work performed by TVA Trades and Labor employees directly. The prevailing wage rate is negotiated between TVA and the Annual Council representing multiple unions and the Teamsters for jobs each represents. Disputes over the prevailing rate may be appealed to the Secretary of Labor. 

3

Salary Policy Represented Employees 
As required by Labor Agreements, surveys, published data, and/or other sources are reviewed annually by TVA and the applicable unions to negotiate compensation budgets and pay adjustments. Disputes over monetary issues are resolved through binding arbitration. 
Candidate Sourcing and Relevant Labor Markets
External recruiting areas are defined for specialized segments of TVA’s employees based on the most likely sources of qualified candidates and the sectors in which TVA is most vulnerable to external recruitment activities.
External recruitment sources for the most senior levels of Management (CEO, direct reports to the CEO and other select executives) have been determined to be primarily energy services companies (including investor owned utilities of comparable size and business complexity and large public power organizations) due to the criticality of industry-specific knowledge, experience, and professional qualifications in carrying out the duties of these positions. 
However, some senior level positions which have less need for industry-specific knowledge and experience may have recruitment areas in general industry and governmental entities in addition to the energy services industry and public power. 
External recruitment areas for other segments of TVA employees may include general industry, governmental entities, energy services companies and investor owned utilities. 
Relevant labor markets for other segments of TVA employees are continuously reviewed and will reflect consideration of potential recruiting sources, external recruiting threats, geographic scope of recruitment activities, type of business/industry, type of position, etc. 
Sources of Competitive Market Compensation Information
Competitive market compensation information is obtained from: 
		
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	Published and custom compensation surveys reflecting the relevant labor markets identified for designated positions 

		
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	Publicly disclosed information from a custom peer group of energy services companies of comparable size and business complexity as reviewed and approved by the Committee from time to time 

The competitive market compensation information is used to: 
		
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	Test competitiveness of compensation level and opportunity by position  

		
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	Serve as a point of reference for establishing pay packages for recruiting executives 

		
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	Determine appropriate adjustments to compensation levels and opportunities to maintain the desired degree of market competitiveness 

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The development of competitive market references that reflect the primary sources of candidates does not limit the potential candidates to those sources. For example, the fact that the market reference for a position reflects median compensation for energy services companies simply informs as to the likely pay levels necessary to attract and retain talent for that position and should not limit TVA’s recruiting efforts to energy services companies. 
Pay for Performance
A key feature of the Compensation Plan is a strong orientation toward pay for performance for all employees. The at-risk, pay for performance elements play a substantial role in executive pay and are guided by TVA's business strategy to ensure appropriate alignment between strategy and motivation/reward.  The Plan also seeks to strike the appropriate balance between achieving short-term annual results and ensuring TVA’s long-term success and viability.
The Company’s incentive plans are linked to financial and operational goals (as defined in TVA's Strategic Plan) emphasizing improvements in TVA's overall performance as well as that of individual business units.  The range of incentive opportunity for TVA executives is explicitly calibrated to the degree of difficulty in achievement of specific goals as defined in the business plan. 
TVA continuously reviews the goals and measures that are used in its pay for performance plans to ensure they support the achievement of TVA's Strategic Plan. Through pay for performance, the Compensation Plan recognizes individual performance and focuses attention on the achievement of business goals that are important to customers, and the people it serves. 
The Company’s annual incentive plan achieves this objective through the use of a Balanced Scorecard, while the Company’s long-term incentive program emphasizes a performance orientation by targeting a concentration of approximately 80 percent of long-term compensation in the form of at-risk, performance-based compensation. 

Roles
Human Resources Organization 
		
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	Recommends the TVA Compensation Plan to provide the framework for TVA Management, the CEO, the People and Performance Committee, and the Board to manage compensation for all TVA employees in a manner which is in compliance with the TVA Act as amended by the Consolidated Appropriations Act, 2005. 

Chief Executive Officer 
		
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	Evaluates the performance of the CEO’s direct reports and recommends executive pay adjustments to the People and Performance Committee and the Board as appropriate. 

5

		
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	Approves, or delegates to others the authority to approve, all personnel and compensation actions not reserved for Board approval as defined by the delegations in this Plan. 

		
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	Approves the Retirement System Board's selection of trustees of the Retirement System and the 401(k) Plan and the trust agreements between the System and such trustees and any amendments thereto.

		
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	Approves the TVA Retirement System Board's selection of investment managers of the Retirement System and the 401(k) Plan and the investment management agreements between the System and such managers and any amendments thereto. 

		
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	Receives notice of any amendments to the Rules and the 401(k) Plan Provisions approved by the System Board that do not have a direct cost impact on and that do not increase the liabilities of the Retirement System, elects to veto or not to veto said amendments, and elects whether to waive the remainder of the notice period in which to veto said amendments. 

		
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	Appoints three members to the Board of Directors of the TVA Retirement System. 

People and Performance Committee 
		
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	Reviews the TVA Compensation Plan that is required by Section 2(g)(1)(F) of the TVA Act and makes recommendations to the full Board for approval. 

		
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	Reviews total compensation for the CEO and all managers and technical personnel who report directly to the CEO (including employment agreements dealing with such compensation and other matters, to the extent deemed appropriate) and the structure of the Company’s leadership team, including specific quantitative and qualitative goals, and recommends said compensation and goals to the full Board for approval. 

		
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	Reviews the performance of the CEO and, on an annual basis, reviews a report by the CEO on the performance of the CEO's direct reports. 

		
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	Monitors and recommends to the Board on an annual basis (on the recommendation of the CEO and as approved by the CEO throughout the year) the salaries of employees whose annual salaries would be in excess of the annual rate payable for positions at Executive Schedule Level IV. 

		
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	Monitors the Company’s executive compensation to ensure its competitiveness and effectiveness in recruiting and retaining capable executives in service to TVA. 

		
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	Periodically reviews the compensation and benefits programs for all TVA employees, including retirement benefits, annual opportunities under incentive plans, and other elements of compensation, to ensure prudent management of resources and competitiveness and effectiveness in recruiting and retaining capable executives, managers, and employees. 

		
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	Reviews and recommends to the full Board TVA’s annual contribution to the TVA Retirement System.

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	Reviews amendments to the Retirement System Rules and 401(k) Plan Provisions approved by the Systems Board that have a direct cost impact on TVA or that increase the liabilities of the Retirement System and recommends to the full Board whether to elect to veto or not to veto such amendments and whether to waive the remainder of the notice period in which to veto said amendments.

		
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	Coordinates with other Board committees as appropriate on any of the roles set out above.

TVA Board of Directors 
		
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	Approves the TVA Compensation Plan and amendments to the plan for all employees, which includes the TVA Compensation Philosophy and relevant labor market. 

		
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	Approves all compensation (including salary, bonuses, benefits, incentives, and any other form of remuneration) for the CEO and all managers and technical personnel that report directly to the CEO. 

		
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	Approves on an annual basis, on the recommendation of the People and Performance Committee as approved by the CEO throughout the year, the salaries of employees whose annual salaries would be in excess of the annual rate payable for positions at Executive Schedule Level IV 

		
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	Approves TVA’s annual contribution to the TVA Retirement System. 

		
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	Receives notice of any amendments to the Rules and the 401(k) Plan Provisions approved by the System Board that have a direct cost impact on TVA or that increase the liabilities of the Retirement System, elects to veto or not to veto said amendments, and elects whether to waive the remainder of the notice period in which to veto said amendments. 

7mkkn_ex102.htm

EXHIBIT 10.2
  
FORM OF SHARE CANCELLATION AGREEMENT
 
This SHARE CANCELLATION AGREEMENT (this “Agreement”), dated November 7, 2016 (the “Effective Date”), is entered into by and among (the “Company”), Makkanotti Group Corp., a Nevada corporation, (the “Company”), [ · ] (the “Cancelling Party”). The Company and Cancelling Party are also hereinafter individually and jointly referred to as “P(p)arty” and/or “P(p)arties”.
 
RECITALS
 
WHEREAS, as of the date hereof, the Cancelling Party is the owner of [ · ] shares of the Company’s common stock, par value $0.001per share; and 
 
WHEREAS, concurrently herewith, the Parties and Cure Pharmaceutical Corp., a California corporation (“Cure Pharma”), are entering into a Share Exchange and Conversion Agreement (the “Exchange Agreement”), pursuant to which Cure Pharma will become a wholly owned subsidiary of the Company; and
 
WHEREAS, it is a condition precedent to the consummation of the Exchange Agreement that the Cancelling Party will enter into this Agreement, which will effectuate the cancellation of an aggregate [ · ] shares of the Company’s common stock owned by the Cancelling Party (the “Cancelled Shares”);
 
WHEREAS, the Cancelling Party acknowledges that it would benefit from the completion of the transactions contemplated by the Exchange Agreement; and 
 
WHEREAS, the Cancelling Party is entering into this Agreement to, amongst other things, induce Cure Pharma to enter into the Exchange Agreement and the Cancelling Party acknowledges that Cure Pharma would not consummate the transactions contemplated by the Exchange Agreement unless the transactions contemplated hereby are effectuated in accordance herewith.
 
AGREEMENT
 
In consideration of the mutual promises herein contained and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Parties hereto agree as follows: 
 
1. Cancellation of Cancelled Shares. On the Effective Date, the Cancelling Party will deliver to the Company the necessary documentation for the cancellation of the stock certificates representing the Cancelled Shares, along with duly executed medallion guaranteed stock powers covering the Cancelled Shares (or such other documents acceptable to the Company’s transfer agent) and hereby irrevocably instructs the Company and the Company’s transfer agent to cancel the Cancelled Shares such that the Cancelled Shares will no longer be outstanding on the stock ledger of the Company and such that the Cancelling Party shall no longer have any interest in the Cancelled Shares whatsoever. The Company shall immediately deliver to the Company’s transfer agent irrevocable instructions providing for the cancellation of the Cancelled Shares. As of the Effective Date, the Cancelling Party hereby waives any and all rights and interests it has, had or may have with respect to the Cancelled Shares.
    	 
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2. Consideration for Share Cancellation. At the Closing, as consideration for the cancellation of the Cancelled Shares by the Cancelling Party, the Company shall deliver to the Cancelling Party a warrant for the purchase of up to [ · ] shares of the Company’s common stock (the “New Warrant”) with an exercise price per share of $2.00 (subject to adjustment for reverse and forward stock splits, stock dividends, stock combinations and other similar transactions of the Company’s common stock that occur after the date of this Agreement) (the “Exercise Price”). The New Warrant shall be exercisable for period of four (4) years from its issuance date and shall include a call provision pursuant to which the Company shall have the right to call the exercise of all, or the remaining portion of the New Warrant outstanding and unexercised at the then-current Exercise Price on or at any time after the effective date of the Company’s listing of its common stock for trading on any of the following markets or exchanges: the Nasdaq Capital Market, the Nasdaq Global Market, the Nasdaq Global Select Market, the New York Stock Exchange, the NYSE MKT LLC exchange or any other national securities exchange registered with the U.S. Securities and Exchange Commission (the “SEC”) under Section 6(a) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). The shares of Company’s common stock issuable upon exercise of New Warrant are herein referred to as the “New Warrant Shares” and the New Warrant and the New Warrant Shares are herein together referred to as the “Securities.” 
  
3. Effective Date. This Agreement shall become effective upon the execution of this Agreement. The transactions to occur at such place and time with respect to this Agreement are referred to herein as the “Closing”. 
 
4. Release of Claims. At and subsequent to the Closing, the Cancelling Party, on behalf of its directors, shareholders, officers, legal representatives, affiliates and related entities hereby releases and forever discharges the Company, and its respective past, present and future officers, directors, partners, principals, agents, employees, affiliates, related entities, successors and assigns from any and all claims, demands, obligations, losses, causes of action, costs, expenses, attorneys’ fees and liabilities whatsoever, whether based on contract, tort, statutory or other legal or equitable theories of recovery, and whether known or unknown, asserted or unasserted, which in any way are based upon, arise out of or relate to the Cancelled Shares. The Parties intend that this Agreement cover all claims or possible claims based upon, arising out of or related to those matters referred to in the foregoing release, whether such claims or possible claims are known, unknown or hereafter discovered.
 
5. Representations by the Cancelling Party. 
 
(a) The Cancelling Party owns the Cancelled Shares of record and beneficially free and clear of all liens, claims, charges, security interests, and/or encumbrances of any kind whatsoever. The Cancelling Party has sole control over the Cancelled Shares and/or sole discretionary authority over any account in which they are held. Except for this Agreement, no person/entity has any option or right to purchase or otherwise acquire the Cancelled Shares, whether by contract of sale or otherwise, nor is there a “short position” as to the Cancelled Shares. 
    	 
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(b) The Cancelling Party has full right, power and authority to execute, deliver and perform this Agreement and to carry out the transactions contemplated hereby. This Agreement has been duly and validly executed and delivered by the Cancelling Party and constitutes a valid, binding obligation of the Cancelling Party, enforceable against it in accordance with its terms (except as such enforceability may be limited by laws affecting creditor's rights generally). 
 
(c) Cancelling Party represents and warrants that it has the requisite authority and capacity to enter into this Agreement, as well as carry out the terms/conditions referenced herein. Additionally, Cancelling Party represents and warrants that its compliance with the terms and conditions of this Agreement and will not violate any instrument relating to the conduct of its business, or any other agreement which it may be a party, or any federal and state rules or regulations applicable to either Party.
 
(d) Cancelling Party is, and on the date which it exercises the New Warrant it will be, an “accredited investor” within the meaning of Rule 501 under the Securities Act of 1933, as amended (the “Securities Act”), and was not organized for the specific purpose of acquiring the Securities. Cancelling Party has such knowledge, sophistication and experience in business and financial matters so as to be capable of evaluating the merits and risks of the prospective investment in the Securities, and has so evaluated the merits and risks of such investment. Cancelling Party is able to bear the economic risk of an investment in the Securities and, at the present time, is able to afford a complete loss of such investment. Cancelling Party has had the opportunity to ask questions and receive answers concerning the terms and conditions of its purchase of the Securities and to obtain any additional information from the Company that is necessary to verify the information furnished in the Company’s periodic, current and other reports required to be filed by it under the Exchange Act made with the SEC.
 
(e) Cancelling Party is (i) purchasing the New Warrant and (ii) upon exercise of the New Warrant will acquire the New Warrant Shares issuable upon exercise thereof, for investment purposes for its own account only and not with a view to, or for resale in connection with, any public sale or “distribution” thereof within the meaning of the Securities Act. Cancelling Party understands that the Securities have not been registered under the Securities Act or registered or qualified under the applicable securities law of any other jurisdiction in reliance on specific exemptions therefrom, which exemptions may depend upon, among other things, the bona fide nature of Cancelling Party’s investment intent as expressed herein.
 
6. Representations and Warranties of the Company. The Company represents and warrants to Cancelling Party as of the date hereof as follows:
 
(a) Corporate Authorization; Enforceability. The execution, delivery and performance by the Company of this Agreement are within the corporate powers and have been, duly authorized by all necessary corporate action on the part of the Company. This Agreement has been duly executed and delivered by the Company and constitutes the valid and binding agreement of the Company, enforceable against the Company in accordance with its terms, except to the extent that its enforceability may be subject to applicable bankruptcy, insolvency, reorganization, moratorium and similar laws affecting the enforcement of creditors’ rights generally and by general equitable principles.
    	 
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(b) Governmental Authorization. The execution, delivery and performance by the Company of this Agreement requires no consent, approval, order, authorization or action by or in respect of, or filing with, any governmental authority.
 
(c) Non-Contravention; Consents. The execution, delivery and performance by the Company of this Agreement and the consummation of the transactions contemplated hereby do not (i) violate the articles of incorporation or bylaws of the Company, or (ii) violate any applicable law or order.
 
7. Restrictions on Transfer of Securities; Registrable Securities.
 
(a) Restrictions on Transferability. The Securities shall not be offered, sold, resold, pledged, assigned or otherwise transferred from Cancelling Party to a transferee (any such transferee, a “Holder”) other than (i) if such Securities have been registered for sale pursuant to an effective registration statement under the Securities Act or (ii) (A) in accordance with the provisions of Section 7 and Section 12 hereof, (B) in accordance with the applicable provisions of the New Warrant, and (C) where Cancelling Party shall have delivered to the Company an opinion of counsel, in a form acceptable to the Company and from counsel reasonably acceptable to the Company, to the effect that such Securities to be sold, assigned or transferred may be sold, assigned or transferred pursuant to an exemption from such registration. Cancelling Party will be required to notify any subsequent purchaser of any then-existing resale restrictions as set forth above. The Company shall be entitled to give stop transfer instructions to the transfer agent with respect to the Securities to enforce the foregoing restrictions.
 
(b) Restrictive Legends. Cancelling Party understands that the Securities have been issued (or will be issued in the case of the New Warrant Shares) pursuant to an exemption from registration or qualification under the Securities Act and applicable state securities laws, and the Securities (or any other securities issued in respect of the Securities upon any stock split, stock dividend, recapitalization, reorganization, scheme, arrangement or otherwise) shall (unless otherwise permitted by the provisions hereof or the Warrants) be stamped or otherwise imprinted with a legend substantially in the following form (in addition to any legend required under applicable federal or state securities laws):
 
THIS WARRANT AND THE UNDERLYING SECURITIES HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”). THEY MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED OR HYPOTHECATED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT AS TO SUCH SECURITIES UNDER THE ACT OR AN OPINION OF COUNSEL SATISFACTORY TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED.
 
(c) Limitation on Transfer. Notwithstanding the other applicable provisions of this Agreement to the contrary, Cancelling Party agrees that it shall not transfer the Warrants to more than ten (10) holders, and each holder to whom all or part of any Warrant shall be transferred, by executing the assignment agreement attached to the Warrant, cannot transfer such Warrant to more than one holder.
    	 
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8. Further Assurances. Each Party to this Agreement will use its best efforts to take all action and to do all things necessary, proper, or advisable in order to consummate and make effective the transactions contemplated by this Agreement including, but not limited to the execution and delivery of such other documents and agreements as may be necessary to effectuate the cancellation of the Cancelled Shares.
 
9. Notices. Any and all notices and other communications hereunder shall be in writing and shall be deemed duly given to the party to whom the same is so delivered, sent, transmitted or mailed at addresses and contact information set forth on the signature pages hereof (or at such other address for a party as shall be specified by like notice). Any notices or other communications required or permitted hereunder shall be in writing, delivered via facsimile, email, U.S. nationally recognized overnight courier or by hand-delivery and shall be deemed sufficiently given, received and effective on the earliest of: (i) the date of transmission, if such notice or communication is delivered via confirmed facsimile at the applicable facsimile number set forth on the signature pages attached hereto prior to 5:30 p.m. (Pacific Standard Time) on a Trading Day, (ii) the next Trading Day after the date of transmission, if such notice or communication is delivered via confirmed facsimile at the applicable facsimile number set forth on the signature pages attached hereto on a day that is not a Trading Day or later than 5:30 p.m. (Pacific Standard Time) on any Trading Day, (iii) the date of transmission, if such notice or communication is delivered via email at the applicable email address set forth on the signature pages attached hereto prior to 5:30 p.m. (Pacific Standard Time) on a Trading Day (provided that such sent email is kept on file (whether electronically or otherwise) by the sending party and the sending party does not immediately receive an automatically generated message from the recipient’s email server that such email could not be delivered to such recipient), (iv) the next Trading Day after the date of transmission, if such notice or communication is delivered via email at the applicable email address set forth on the signature pages attached hereto on a day that is not a Trading Day or later than 5:30 p.m. (Pacific Standard Time) on any Trading Day (provided that such sent email is kept on file (whether electronically or otherwise) by the sending party and the sending party does not immediately receive an automatically generated message from the recipient’s email server that such email could not be delivered to such recipient), (v) the second Trading Day following the date of mailing, if sent to the applicable address set forth in the signature pages hereto by internationally recognized overnight courier service, or (vi) the date of actual receipt by the party to whom such notice or communication is required or permitted to be given, if such notice or communication is hand-delivered to such party.
 
10. Entire Agreement; Amendments. This Agreement contains the entire understanding of the Parties with respect to the matters covered herein and therein and, except as specifically set forth herein, neither the Company nor the Cancelling Party makes any representation, warranty, covenant or undertaking with respect to such matters. No amendment, modification, termination or waiver of any provision of this Agreement, and no consent to any departure therefrom, shall in any event be effective unless the same shall be in writing and signed by both Parties. Any such waiver or consent shall be effective only in the specific instance and for the specific purpose for which it was given.
    	 
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11. Survival of Agreements, Representations and Warranties, etc. All representations and warranties contained herein shall survive the execution and delivery of this Agreement. 
  
12. Successors and Assigns. This Agreement shall bind and inure to the benefit of and be enforceable by the Parties and their respective successors and assigns. Cancelling Party may assign its rights under this Agreement to any person to whom Cancelling Party assigns or transfers any Securities, provided: (i) such transferor agrees in writing with the transferee or assignee for the assignment of such rights, and a copy of such agreement is furnished to the Company after such assignment, (ii) the Company is furnished with written notice of the name and address of such transferee or assignee, (iii) such transferee agrees in writing to be bound, with respect to the transferred Securities, by the provisions hereof that apply to the “Cancelling Party,” and (iv) such transfer shall have been made in accordance with the applicable requirements of this Agreement and with all laws applicable thereto.
 
13. Governing Law. All questions concerning the construction, validity, enforcement and interpretation of this Agreement shall be governed by and construed and enforced in accordance with the internal laws of the State of Nevada, without regard to the principles of conflicts of law thereof. Each party agrees that all legal proceedings concerning the interpretations, enforcement and defense of the transactions contemplated by this Agreement (whether brought against a Party or its respective affiliates, directors, officers, stockholders, employees or agents) shall be commenced exclusively in the state courts sitting in the County of Ventura, California or in the United States District Court in the Western Division of the Central District of California. Each Party hereby irrevocably submits to the exclusive jurisdiction of the state courts sitting in the County of Ventura, California or in the United States District Court in the Western Division of the Central District of California for the adjudication of any dispute hereunder or in connection herewith or with any transaction contemplated hereby or discussed herein (including with respect to the enforcement of the Agreement), and hereby irrevocably waives, and agrees not to assert in any suit, action or proceeding, any claim that it is not personally subject to the jurisdiction of any such court, that such suit, action or proceeding is improper or is an inconvenient venue for such proceeding. Each Party hereby irrevocably waives personal service of process and consents to process being served in any such suit, action or proceeding by mailing a copy thereof via internationally recognized overnight courier service (with evidence of delivery) to such party at the address in effect for notices to it under this Agreement and agrees that such service shall constitute good and sufficient service of process and notice thereof. Nothing contained herein shall be deemed to limit in any way any right to serve process in any other manner permitted by law. If any Party shall commence an action or proceeding to enforce any provisions of the Agreement, then the prevailing Party in such action or proceeding shall be reimbursed by the other Party(s) for its reasonable attorneys’ fees and other costs and expenses incurred with the investigation, preparation and prosecution of such action or proceeding. 
    	 
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14. Severability. In the event that any provision of this Agreement is invalid or unenforceable under any applicable statute or rule of law, then such provision shall be deemed inoperative to the extent that it may conflict therewith and shall be deemed modified to conform with such statute or rule of law. Any provision hereof which may prove invalid or unenforceable under any law shall not affect the validity or enforceability of any other provision hereof.
 
15. Miscellaneous. This Agreement embodies the entire agreement and understanding between the Parties hereto and supersedes all prior agreements and understandings relating to the subject matter hereof. If any provision of this Agreement shall be held invalid or unenforceable for whatever reason, the remainder of this Agreement shall not be affected thereby and every remaining provision of this Agreement shall be valid and enforceable to the fullest extent permitted by law. This Agreement may be executed in any number of counterparts and by the Parties hereto on separate counterparts but all such counterparts shall together constitute but one and the same instrument. This Agreement, to the extent delivered by means of a facsimile machine or electronic mail (any such delivery, an “Electronic Delivery”), shall be treated in all manner and respects as an original agreement or instrument and shall be considered to have the same binding legal effect as if it were the original signed version thereof delivered in person. At the request of any Party, each other Party shall re-execute original forms hereof and deliver them in person to all other Parties. No Party shall raise the use of Electronic Delivery to deliver a signature or the fact that any signature or agreement or instrument was transmitted or communicated through the use of Electronic Delivery as a defense to the formation of a contract, and each such Party forever waives any such defense, except to the extent such defense related to lack of authenticity.
  
[Signature page follows]
 
	 
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IN WITNESS WHEREOF, the Parties hereto have executed this Agreement as of the date first above written. 
 
	 	MAKKANOTTI GROUP CORP.,
a Nevada corporation
	
	 	 	 	 
		By:	/s/ Michael Hlavsa	
	 
	Name:
	Michael Hlavsa	 
	 	Title:
	President	 
	 
	 
	 
	 

	 
	 
	Address for Notices: 
 
________________________________________
________________________________________
Phone:  __________________________________
Fax:_____________________________________
Email:  ___________________________________
	 

	 
	 
	 
	 

	 
	 
	 
	 

	 
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	By:	 
	 

	 
	Name:	 	 

	 
	Title:	 	 

	 
	 
	 
	 

	 
	 
	Address for Notices: 
 
________________________________________
________________________________________
Phone:  __________________________________
Fax:_____________________________________
Email:  ___________________________________
	 

 
 
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