Document:

clesb-2083007ex102.htm

    Exhibit
      10.2

     

    AMENDMENT
      TO EXCLUSIVE LICENSING AGREEMENT

    

    Extension
      of Trial Period

    

    This
      Agreement is made January l1th, 2006 by and between Brelsford Engineering,
      a
      Montana corporation, whose operating office is located at 8655 Bridger Canyon
      Road, Bozeman, MT 59715 (hereinafter the “LICENSOR”) and SRS Energy, Inc., a
      Delaware corporation, whose operating office is located at 7320 Forsyth, Unit
      102, St. Louis, MO 63105 (hereinafter the “LICENSEE”).

     

    RECITALS

    

    WHEREAS,
      LICENSOR and LICENSEE are parties to an exclusive license agreement dated April
      1, 2005 (hereinafter referred to as the “license agreement”), copies of which
      are attached hereto as Exhibit A, and incorporated herein by
      reference;

    

    WHEREAS,
      the Parties desire to amend the license agreement pursuant to paragraph V
      (6).

    

    NOW
      THEREFORE, in consideration of the respective agreements and
      commitments as set forth below, and other good and valuable consideration,
      the
      receipt and sufficiency of which. is acknowledged by each of the parties, the
      parties agree as follows:

    

    1.  Section
      C: The section of the license agreement titled “Licensing Fee” is
      amended to include the following: The “Trial Option Period” shall be extended
      for an additional six (6) months, and; the initiation of the License Execution
      Fee of fifty thousand dollars ($50,000) due date shall be moved forward a
      commensurate six (6) months and become due beginning April 1, 2006,

    

    2.  Full
      Force and Effect: The License Agreement is hereby amended by this
      Amendment. All other terms and conditions of the License Agreement remain
      unchanged and in full force and effect.

    

    3.  Term:
      This Amendment shall commence on the date hereof and shall continue concurrently
      with the term of the License Agreement.

    

    4.  Monthly
      Trial Option Period: The Monthly Trial Option payment shall be paid at
      the time of submission to BEI of this final Amendment to Exclusive Licensing
      Agreement

    

    IN
      WITNESS WHEREOF, each signatory hereto, through their respective duly
      authorized representatives, have executed this Amendment to the license
      Agreement consisting of a total of two pages on the date herein set
      forth.

     

    Brelsford
      Engineering, Inc.

     

    A
      Montana
      Corporation

    

    

    By:  /s/
      Donald L. Brelsford  DLB

    Print
      Name: Donald Brelsford

    Title:
      President

    

    SRS
      Energy, Inc.

    

    By:  /s/
      Edward P. Hennessey, Jr.

    Print
      Name: Edward P. Hennessey, Jr.

    Title:
      Presidentclesb-2083007ex103.htm

    Exhibit
      10.3

    TECHNOLOGY
      LICENSE AGREEMENT

    

    This
      Technology License Agreement (the “Agreement”) is made and entered into
  8/17  , 2005 between Bio-Products International,
      Inc. (“Bio-Products”), a Company incorporated under the laws of the State of
      Alabama (the “Licenser), and SRS Energy, Inc., a Company incorporated under the
      laws of the State of Delaware (the “Licensee”). The Licensor and Licensee may
      hereinafter be either individually referred to as the “Party” or collectively
      referred to as the “Parties”.

    

    PREMISES:

    

    Whereas,
      Dr. Michael H. Eley (“Eley”), in his continuous capacity as an employee of the
      University of Alabama in Huntsville (“UAH”), developed certain proprietary
      intellectual property, patented processes, and patent pending processes for
      the
      volume reduction, separation, recovery, and recycling of various components
      of
      waste materials, including without limitation, Municipal Solid Waste (“MSW”),
      which technology has been reduced to United States Patent No. 6,306,248 (the
      “U.S. Patent”) and Patent Cooperation Treaty, International Application No,
      PCT/USO1/50049 (the “PCT”) (collectively, the “UAH Technology”). The UAH
      Technology constitutes the first of the two parts of the “Technology” (as
      defined herein). Eley is also a major stockholder, a Director, and the President
      and CEO of Bio-Products;

    

    Whereas,
      pursuant to that certain Amended and Restated License Agreement, effective
      August 18, 2003 (the “UAH License”) (a copy of which is attached as Exhibit A),
      UAH granted an exclusive worldwide license to Bio-Products covering the UAH
      Technology, including the rights to make, have made, use, lease and sell certain
      products, and to practice certain processes, and to license some or all of
      the
      rights granted to others, such products and processes being more specifically
      defined in the UAH License;

    

    Whereas,
      Donald E. Malley (“Malley”), doing business as M&M Consulting. Inc., a
      Company incorporated under the laws of the State of Mississippi (“M & M),
      developed certain proprietary intellectual property, equipment designs, and
      process operating procedures related to the UAH technology, including the
      expertise and know-how for fabrication and continuous operation of a small
      waste
      reduction process plant at a commercial sanitary landfill for a period of
      eighteen months (collectively, the “Malley/M&M “Technology”‘). Malley (the
      Developer”) and M&M Consulting, Inc. have assigned to Bio-Products
      exclusively throughout the world all right, title and interest in the
      Malley/M&M Technology (the “Malley/M&M Assignment”) (a copy of which is
      attached as Exhibit B). The Malley/M&M Technology constitutes the second of
      the two parts of the “Technology” (as defined herein). M & M is a
      stockholder in Bio-Products and Malley is a Vice President of
      Bio-Products;

    

    Whereas.
      Bio-Products desires to enter into a license agreement with the Licensee to
      provide the Technology and future improvements for the construction and
      operation of commercial scale municipal solid waste processing and recycling
      facilities subject to the terms and conditions set forth herein;

    

    Whereas,
      the Licensee either has the financial resources, or has agreed to use their
      best
      efforts to secure the financial resources, for the design, engineering, and
      fabrication of processing equipment and facilities, acquisition and permitting
      of construction sites, purchase of processing equipment, construction and
      operation of processing facilities, and marketing and promotion of commercial
      facilities that are compatible with the Technology;

    

    Whereas,
      the Licensee desires to enter into a license agreement with Bio-Products to
      use
      the Technology for commercial purposes upon the terms and conditions hereinafter
      set forth; and

    

    Now,
      therefore, in consideration of the premises and the mutual covenants contained
      herein, the Parties hereto agree as follows;

     

    ARTICLE
      I – DEFINITIONS

     

    For
      purposes of this Agreement, the following words and phrases shall have the
      following meanings:

     

    1.1           “Technology”
      shall mean the inventions, technology, and proprietary intellectual property
      and
      information developed by Bio-Products, Eley, Malley, and UAH created or
      discovered prior to or after the effective date of this Agreement, including,
      but not limited to, inventions, processes, process operating procedures and
      discoveries, patents, patent applications, trade secrets, developments, facility
      designs, equipment designs, works of authorship, formulas, software programs,
      techniques, information, expertise, know-how, data, research, mask works, all
      intellectual and industrial property rights of any sort, all rights of
      integrity, disclosure and withdrawal, copyrights, trade names and trademarks,
      which are related to the recycling, processing, collection, storage, disposal,
      treatment, utilization or reduction of waste, including Municipal Solid Waste
      (“MSW’’), or waste components or the conversion of the cellulosic biomass
      product to fuels, chemicals, or other materials or other uses of cellulosic
      biomass product for the production of energy or otherwise.  Technology
      as defined in this Agreement shall be limited to the use of the cellulosic
      biomass product in applications in which the cellulosic product of waste,
      including MSW, processed utilizing the Technology is used as the feedstock
      specifically for conversion into fuel grade ethanol. Technology otherwise
      includes without limitation, the UAH Technology, the Malley Technology, United
      States Patent Number 6,306,248 and foreign patents that may be issued based
      on
      Patent Cooperation Treaty International Application Number
      PCT/USO1/50049.

    

    1.2           “Third
      Party” shall mean any person or entity other than Bio-Products, Eley, Malley,
      UAH, or the Licensee.

    

    1.3           “Operating
      Day” shall mean a day in which the facility (i) processes waste equal to or in
      excess of the facility’s daily design capacity; or (ii) processes all of the
      waste brought to the facility for processing on such day; or (iii) processes
      as
      much waste as allowed by any downstream limitations, such as but not limited
      to,
      any limitations on the downstream processing or disposal of the cellulosic
      product

    

    1.4           “Cellulosic
      Biomass or Cellulosic Biomass Product” shall be defined as the smallest size
      material obtained from screening the processed materials produced utilizing
      the
      Technology, typically through a one-half inch screening device, in which more
      than fifty percent (50%) by dry weight can be chemically characterized as
      material originating from forest products or other living plant
      components.

    

    ARTICLE
      II – GRANT OF LICENSE;

    

    2.1           Subject
      to the terms and conditions of this Agreement, Bio-Products hereby grants an
      exclusive license to the Licensee to utilize the Technology to construct and
      operate commercial scale MSW processing and recycling facilities in the United
      States of America (“USA”) in which the cellulosic biomass product of the process
      Technology is used specifically for the production of fuel grade
      ethanol,

    

    2.2           The
      term of this license shall extend from the effective date of this Agreement
      for
      a period of twenty (20) years, unless extended, terminated or replaced by
      agreement of the Parties hereto, or unless otherwise extended or terminated,
      as
      elsewhere provided in this Agreement. This Agreement shall be extended
      automatically until the expiration date of the last patent issued to
      Bio-Products or UAH covering the Technology.

    

    2.3           Anything
      to the contrary contained elsewhere in this Agreement notwithstanding,
      Bio-Products shall retain all of the exclusive rights granted under the UAH
      License and all of the exclusive rights obtained by the Malley/M&M
      Assignment, including the worldwide exclusive right to license some or all
      of
      its rights not granted to the Licensee under this Agreement to Third Parties
      to
      utilize the Technology.

    

    ARTICLE
      III – FEES, ROYALTIES, AND OTHER CONSIDERATION

     

    3.1           The
      Licensee shall pay to Bio-Products a Process Royalty of one dollar and fifty
      cents (S1.50) for every ton of waste received and processed at each facility
      to
      be constructed and operated under this Agreement, excluding waste received
      and
      processed at the proof of concept validation ethanol demonstration plant, which
      shall have a capacity of not more than one hundred (100) tons per day of MSW,
      and which may be only a part of a larger waste processing facility, The Process
      Royalty payments shall become payable on the thirtieth (30th) day following
      the
      end of the calendar month in which such amount becomes due and owing until
      this
      Agreement or any extension thereof expires or is terminated. Bio-Products agrees
      that no Process Royalty shall be due and payable with respect to waste processed
      at any facility until such facility has been in operation for thirty (30)
      Operating Days, as defined in Paragraph 1.3 (the Operational Date”). Licensee
      shall pay said Process Royalty by wire transfer of funds to a Bio-Products
      bank
      account.

    

    3.2           The
      Licensee shall pay to Bio-Products a By-Product Royalty of two and one half
      percent (2.5%) of the gross sales price in excess of ten dollars ($10.00) per
      ton obtained from the sale of recyclable by-products, excluding the cellulosic
      biomass product, obtained from processing waste, including MSW, utilizing the
      Technology at each facility to be constructed and operated under this Agreement,
      excluding waste received and processed at the proof of concept validation
      demonstration plant. The By-Product Royalty shall become due and payable on
      the
      ninetieth (90th) day following
      the
      end of the calendar quarter in which such recyclable product sales are made
      until this Agreement or any extension thereof expires or is terminated. The
      above notwithstanding, no By-Product Royalty shall be due and payable with
      respect to the cellulosic product produced at the facility until the facility
      reaches its Operational Date. Licensee shall pay said By-Product Royalty by
      wire
      transfer of funds to a Bio-Products bank account.

     

    3.3           As
      additional consideration and for their experience and know-how regarding the
      Technology, the Licensee shall pay Bio-Products a monthly fee for Technical
      Services for each facility to be constructed and operated under this Agreement.
      Such Technical Services shall initially be provided by Eley and Malley who
      are
      employees of Bio-Products, and who agree to provide whatever Technical Services
      are reasonably requested of them by Licensee. Payments to Bio-Products for
      Technical Services shall be ten thousand dollars ($10,000) per month payable
      on
      or before the first (1st) business
      day of
      each month beginning sixty (60) days after funding is secured for the proof
      of
      concept validation demonstration plant. For each subsequent facility, Licensee
      shall pay Bio-Products for Technical Services in the amount of ten thousand
      dollars ($10,000) per month beginning within thirty (30) days of the date of
      submission of the first permit to construct each subsequent facility. Payments
      for the Technical Services of Bio-Products shall be increased to twenty thousand
      dollars ($20,000) per month commencing on the first business day of the month
      following the Licensee’s initial down payment for the process vessels for
      construction of the Licensee’s first commercial scale facility and continuing
      each month thereafter until the first commercial facility reaches its
      Operational Date. After the. Operational Date of the first plant, the monthly
      Technical Services fee shall he reduced to ten thousand dollars ($10,000) for
      a
      period of twelve (12) months. Additional Technical Services, unrelated to the
      above, may be provided by Bio-Products employees at the request of the Licensee
      at a rate of one hundred dollars ($100) per hour. If at any time Bio-Products
      fails to undertake Technical Services requested, then Licensee may cease all
      payments as set forth in this Paragraph 3.4, until such time as the failure
      to
      undertake the Technical Services requested is remedied.

    

    3.4           Additionally,
      with respect to the Technical Services provided by Bio-Products, the Licensee
      shall either provide pre-paid expense accounts or reimburse Bio-Products
      employees directly for the reasonable transportation, lodging, food, and other
      expenses incurred by Bio-Products employees in the performance of such Technical
      Services for the Licensee. In either case, Bio-Products employees shall submit
      weekly, itemized expense reports and receipts to the Licensee for periods which
      expenses are incurred.  If the Licensee has or establishes a travel
      expense policy and procedure, Bio-Products employees shall adhere to said
      policy, unless the Parties agree, in writing, otherwise.  The Licensee
      shall pay Bio-Products employees directly within ten (10) business days of
      receipt of such expense reports.

    

    3.5           The
      Licensee may enter into research and development contracts with Bio-Products,
      with Eley as the principal investigator, to be defined front time to time in
      exchange for results and information. Such results and information, including
      but not limited to test results, notes, and reports regarding the work performed
      as requested by the Licensee shall be turned over to the Licensee by Eley within
      thirty (30) days of completion, and all such results and information shall
      be
      kept confidential and shall not be disclosed in any harm without first obtaining
      approval from the Licensee. Any and all research and development results from
      contracts with Licensee are confidential and may not be provided to Third
      Parties without the written permission of Licensee. If permission is granted
      by
      Licensee for Third Parties to use such unrelated technology then Licensee shall
      be compensated at the rate of 20% of royalties received by Bio-Products for
      the
      use of the unrelated technology by a Third Party. Eley shall allow the Licensee
      to visit the pilot plant facility for any purposes, including demonstrations,
      recyclable product production, and testing upon reasonable notice by the
      Licensee and mutual agreement with Eley as to the dates and times. Eley shall
      also provide training for the Licensee’s employees to use the licensed
      Technology at the pilot plant. Eley shall be compensated at a rate of five
      hundred dollars ($500.00) per day plus expenses for all pilot plant operations.
      For demonstration, recyclable product production, testing, and training at
      the
      pilot plant at the request of the Licensee, the Licensee shall compensate
      Bio-Products for the expenses for such demonstration and test runs as
      follows:

    

    
      	
              (a)           For
                Each Series of Test Runs:

            
	
              (i)           Pilot
                Plant Preparation/Set up

            	
              $500

            
	
              (ii)           Pilot
                Plant Clean-Up Shutdown

            	
              $500

            
	
              (b)           For
                Each Test Run in a Series:

            
	
              (i)           Boiler
                Fuel/Water Treatment

            	
              $200

            
	
              (ii)           Labor

            	
              $800

            
	
              (iii)           Waste
                Disposal

            	
              $100

            
	
              (c)           Follow
                up Costs:

            
	
              (i)           Small
                Sample Collection, Packaging & Storage

            	
              $100

            
	
              (ii)           Large
                Sample Collection & Packaging

            	
              $250

            
	
              (iii)           Dry
                Cellulose Product per ton

            	
              $500

            
	
              (iv)           Shipping
                Containers & Shipping Costs

            	
              Actual,
                plus 25%

            
	
              (d)           Additional
                expenses:

            
	
              (i)           Tractor
                Rental

            	
              $100/day

            
	
              (ii)           Auto/Truck
                mileage for Laborers

            	
              $0.40/mile

            
	
              (iii)           Truck
                towing mileage

            	
              $0.80/mile

            
	
              (iv)           Local
                Lodging for Laborers

            	
              $50/day

            
	
              (v)           Per
                Diem allowance for Laborers

            	
              $25/day

            

    

    

    3.6            For
      the proof of concept validation ethanol demonstration plant to be constructed
      and operated under this Agreement, the Licensee agrees that the facility design,
      equipment designs and specifications, equipment fabricators, engineering firm,
      construction contractors, and sub-contractors, and all facility management
      and
      labor personnel involving the process Technology must be approved by
      Bio-Products, which approval shall not be unreasonably withheld. The Licensee
      also agrees to begin the facility permitting, facility and equipment design,
      equipment selection, and engineering for the proof of concept validation
      demonstration plant within one (1) year from the date of execution of this
      Agreement and to begin placing orders for equipment and construction site work
      within one (1) year from the date of approval of all permitting to begin
      construction of the proof of concept validation demonstration plant.
      Notwithstanding the foregoing, Licensee shall begin placing orders for equipment
      and shall commence and diligently pursue construction and completion of the
      proof of concept validation demonstration plant no later than three (3} years
      from the effective date of this Agreement.

    

    3.7            Due
      to the proprietary nature of the process vessel design, the Licensee agrees
      that
      Bio-Products shall maintain the exclusive right of vessel design, engineering,
      and manufacturing, and the Licensee shall purchase all required vessels
      exclusively from Bio-Products.  The purchase price shall be cost plus
      fifteen percent (15%), not including shipping costs or applicable taxes. All
      other equipment required for construction and operation of waste processing
      and
      recycling facilities utilizing the Technology may be purchased from other
      venders. The vessels are to be built to Bio-Products’ specifications in
      Hattiesburg, Mississippi and shipped to the requested locations. Shipping costs
      and applicable taxes shall be itemized and included in the cost of vessels
      and
      shall be invoiced to and paid by the Licensee. The Licensee will be provided
      with a written operator’s manual and a standard equipment warranty for the
      process vessels.

    

    3.8            In
      order to maintain the exclusivity of this Agreement, the Licensee further agrees
      that, within two (2) years from the Operational Date of the proof of concept
      validation demonstration plant, the Licensee shall begin the facility
      permitting, facility and equipment design, equipment selection, and engineering
      for construction of the first commercial scale facility with a capacity to
      process at least five hundred (500) tons per day, The Licensee also agrees
      to
      expand existing facilities and/or add new facilities with design capacity for
      processing at least an average of an additional one thousand (1,000) tons per
      day of MSW each year thereafter, unless prevented from doing so by a regulatory
      or government agency. If Licensee fails to perform as specified under this
      Paragraph 3.8 for two (2) consecutive years, then this Agreement shall convert
      from an exclusive to a non-exclusive license.

     

    3.9            The
      Licensee shall maintain all such books and records as are necessary to
      accurately determine all amounts due and payable to Bio-Products, Eley, and
      Malley under Paragraphs 3.1, 3.2, 3.3, and 3.4 of this Agreement, which books
      and records the Licensee shall make reasonably available, upon the submission
      of
      a written request from Bio-Products for inspection by Bio-Products and or its
      designated representative at a time mutually convenient to Bio-Products and
      the
      Licensee. Rio-Products agrees to treat all such information respecting
      Licensee’s books and records as confidential.

     

    3.10            All
      payments shall be paid to Bio-Products at the addresses set forth in Paragraph
      14.15 of this Agreement or as otherwise notified in writing by, the
      Parties.

     

    ARTICLE
      IV - INVENTIONS AND DISCOVERIES

     

    4.1           All
      rights, title, and interest in and to the Technology and all patent applications
      and patents thereon or relating thereto as presently exist, specifically United
      States (Patent No. 6,306,248 and foreign patents filed on Patent Cooperation
      Treaty International Application No. PCT/US01/50049 shall remain the sole and
      exclusive property of UAH.  In addition, future patents and patent
      applications, both foreign and domestic, with respect to the existing Technology
      shall be applied for and prosecuted, and if received, shall issue solely in
      Bio-Products’ name (See Paragraph 2.7 of the UAH License., attached hereto as
      Exhibit A).

    

    4.2.           All
      right, title and interest in and to all future inventions, processes,
      enhancements, improvements and other discoveries made by Bio-Products, or any
      person acting for and under the direction of Bio-Products or the Licensee,
      or
      any other employees or consultants of Bio-Products or the Licensee, relating
      specifically to the design, engineering, fabrication, and operation of the
      process vessels required to utilize the Technology, whether or not patentable,
      shall be owned exclusively by Bio-Products. All patent applications and patents
      thereon, foreign and domestic, whether made by any of the Parties, or jointly
      by
      the Parties, or jointly by at least one employee of each Party, shall be owned
      exclusively by Bio-Products. Bio-Products shall add the names of Licensee’s
      employees and consultants that make substantive contributions to the development
      of such patent applications as co-inventors. To the extent required to
      accomplish the foregoing, the Licensee and/or its employees and consultants
      shall execute any and all assignments of patents or other documents to
      Bio-Products, if required for any such patents to issue in Bio-Products’ name.
      Bio-Products shall provide the Licensee with detailed information concerning
      all
      such related, future inventions, processes, enhancements, improvements and
      other
      discoveries. Bio-Products hereby grants to the Licensee an exclusive license
      in
      the USA to utilize all such future inventions, processes, enhancements, and
      other discoveries at no additional royalty or cost, except that the term of
      this
      Agreement shall be extended automatically to the expiration date of any
      subsequently issued patent.

    

    4.3           The
      Technology of Bio-Products and/or UAH shall be maintained by the Licensee free
      and clear of all liens and encumbrances or rights of any Third
      Party.  Licensee shall not sub-license, encumber, transfer or assign
      the Technology of Bio-Products and/or UAH without the written consent of
      Bio-Products, except as provided in this Agreement.

    

    4.4           The
      provisions Paragraphs 4.1, 4.2, and 4.3 of this Article shall apply to both
      foreign and domestic inventions, processes, enhancements, improvements and
      other
      discoveries relating to the Technology, whether or not patentable, and to all
      patent applications and patents related thereto.

    

    4.5           All
      right, title and interest in and to all future inventions, processes,
      enhancements, improvements and other discoveries made jointly by Bio-Products
      and Licensee, or any person acting for and under the direction of Bio-Products
      and Licensee, or any other employees or consultants of Bio-Products and
      Licensee, relating to the use of the cellulosic biomass product for the
      production of fuel grade ethanol or any other by-products obtained from the
      processing of MSW utilizing the Technology, whether or not patentable, shall
      be
      owned jointly by the Parties or jointly by at least one employee of each Party,
      shall be jointly owned by Bio-Products and Licensee.  The Parties
      shall add the names of all employees and consultants that make substantive
      contributions to development of such patent applications as co-inventors. To
      the
      extent required to accomplish the foregoing, Bio-Products and Licensee and/or
      their respective employees and consultants shall execute any and all assignments
      of patents or other documents to Bio-Products and Licensee, if required for
      any
      such patents to issue jointly in Bio-Products’ and Licensee’s
      names.  Bio-Products and Licensee shall share equally in the costs of
      patent preparation, application, prosecution, and maintenance for all such
      jointly owned inventions The Parties shall provide each other with detailed
      information concerning all such related, future inventions, rocesses,
      enhancements, improvements and other discoveries, Bio-Products and Licensee,
      as
      co-owners of any such jointly developed inventions, shall jointly license such
      co-owned inventions to Third Parties. The term of this Agreement shall be
      extended automatically to the expiration date of any jointly issued
      patent.

    

    4.6           If
      Licensee, its employees, and/or its consultants, not including any Bio-Products
      e employees or consultants performing Technical Services for Licensee, should
      alone develop a patentable invention regarding the use of the cellulosic product
      in any applications, including the production of fuel grade ethanol or any
      other
      by-product obtained from the processing of MSW utilizing the Technology, then
      Licensee may, in its sole discretion, pay all of the costs of patent
      preparation, application, prosecution, and maintenance for said invention with
      Licensee being the exclusive owner of such a patented invention. Licensee hereby
      grants Bio-Products a non-exclusive right to use any such Licensee-owned
      patented invention in Bio-Products facilities worldwide, with royalties to
      be
      negotiated in good faith between the Parties.

    

    4.7           The
      Parties shall cooperate in good faith to protect any such invention, process,
      enhancement, improvement or other discovery, and to make all necessary
      applications, assignments, as provided herein, and filings, including patents,
      industrial designs, copyright registrations, trademark registrations and other
      legal protections, necessary or helpful to protect their interests
      therein.

    

    ARTICLE
      V – REPRESENTATIONS AND WARANTIES

    OF
      BIO-PRODUCTS

    

    Bio-Products
      hereby represents and warrants, as of the date hereof, as follows:

    

    5.1           Bio-Products
      is a corporation, duly organized, validly existing and in good standing under
      the laws of the State of Alabama. Bio-Products has all requisite power and
      authority, corporate and otherwise to execute, deliver, observe, and perform
      its
      obligations under, this Agreement. The execution, delivery and performance
      by
      Bio-Products of this Agreement have been duly authorized by all necessary
      corporate action and does not and will not violate Bio-Products’ Articles of
      Incorporation or Bylaws or any provision of any agreement, law, rule,
      regulation, order, writ, judgment, injunction, decree, determination, or award
      presently in effect to which Bio-Products is a party or is subject.

    

    5.2           Bio-Products
      possesses all such franchises, licenses, patents, or other rights necessary
      to
      enter into, and satisfy its obligations under, this Agreement, without (to
      the
      best of Bio-Products’ knowledge) any conflict with, or infringement of, the
      franchises, licenses, patents or other rights of Third Parties.

    

    5.3           Bio-Products
      has the exclusive rights to grant some or all of its rights or licenses to
      Third
      Parties to utilize the Technology not granted to the Licensee under this
      Agreement in various geographical locations worldwide.

    

    5.4           There
      is no action, suit, proceeding or claim pending or, to the knowledge of
      Bio-Products, threatened against Bio-Products in any way relating to the
      Technology. There is no action, suit, proceeding or claim pending or, to the
      knowledge of Bio-Products, threatened against Bio-Products’ properties, assets
      or business which might have a materially adverse effect on Bio-Products’ rights
      or ability to perform this Agreement in accordance with its terms. No
      investigation by any governmental agency is pending or threatened against
      Bio-Products or the properties, business, or goodwill of Bio-Products, which
      has
      or might have a materially adverse effect on Bio-Products’ rights or ability to
      perform this Agreement in accordance with its terms. There is no outstanding
      order, writ, injunction, or decree of any court, government or governmental
      agency against Bio-Products or its assets, business, or goodwill, Bio-Products
      is not in violation of any law or governmental regulation applicable to it,
      to
      the Technology, or to its properties or business, including but not limited
      to
      any applicable safety, environmental control, or similar law or
      regulation.

    

    5.5           There
      is no claim or demand of any Third Party pertaining to, or any proceedings,
      which are pending or, to the knowledge of Bio-Products, threatened which
      challenge the rights of Bio-Products in respect of any of the Technology. No
      technology owned, licensed or used by Bio-Products is subject to any outstanding
      order, decree, judgment, or stipulation by or with any court, arbitrator or
      administrative agency, or, to the best of Bio-Products’ knowledge, infringes
      upon the rights of Third Parties

    

    5.6           Bio-Products
      reserves the right to, but as of the effective date of this Agreement has not,
      put any Third Party on notice of and is not a party to any suit alleging, any
      infringement or alleged infringement of any of the
      Technology.  Bio-Products is aware that there are currently bases for
      putting certain Third Parties on notice and/or filing claims, action, or
      litigation alleging infringement of the Technology.

    

    ARTICLE
      VI – INDEMNITY AND INSURANCE

     

    
      
        	
                6.1  

              	
                (a)

              	
                
                  The
                    Licensee shall indemnity, defend and hold Bio-Products and UAH
                    and their
                    respective Trustees, Directors, officers and employees harmless
                    from and
                    against any and all claims and expenses, including reasonable
                    attorneys’
                    fees and other legal expenses, arising out of the death or injury
                    of any
                    person or persons, any damage to property, or any other claim,
                    proceeding,
                    demand, expense, or liability of any kind whatsoever resulting
                    from, or
                    attributable to utilization of the. Technology (see Paragraph
                    10.3 below
                    and Article VIII of Exhibit
                    A).

                

              

      

       

    

    
      	
               

            	
              (b)

            	
              At
                least ten (10) days prior to commencement of vessel installation
                and
                operating activities on the site of each facility of the Licensee
                to be
                constructed and utilize the Technology pursuant to this Agreement,
                the
                Licensee shall provide to Bio-Products copies of certificates evidencing
                the purchase of policies of insurance against the liabilities described
                in
                Paragraph 6.1(a), naming UAH, Bio-Products, and all of the Parties
                hereto
                as additional insureds, in amounts not less than one million dollars
                ($1,000,000) per claim.

            

    

    

    VII
      – PATENT INFRINGEMENT

     

    
      
        	
                7.1    

              	
                (a)

              	
                
                  Bio-Products
                    and UAH shall notify the Licensee, and the Licensee shall notify
                    Bio-Products and UAH, of any actual or threatened infringement
                    claims or
                    suits that are or may be brought or made against any Party to
                    this
                    Agreement within five (5) days after learning of the existence
                    thereof.  UAH may elect to defend Licensee, at UAH’s sole costs
                    and expense from and against all infringement suits relating
                    to the
                    patents assigned to UAH.  In connection with the defense by UAH
                    of any Third Party claim, the Licensee, at the request and expense
                    of UAH,
                    shall take all such actions as are necessary or desirable to
                    assist UAH in
                    any such action. Licensee will be reimbursed by UAH for out-of-pocket
                    expenses incurred as a result of such action.  UAH shall not,
                    without Licensee’s prior written consent, grant any license rights granted
                    under this Agreement in connection with the settlement or other
                    disposition of any infringement
                    action.

                

              

      

       

    

    
      	
               

            	
              (b)

            	
              In
                the event UAH elects not to defend Licensee from and against any
                actual or
                threatened infringement claim or suit, Bio-Products shall have the
                right
                to defend such suit or claim. Bio-Products may elect to defend Licensee,
                at Bio-Products’ sole costs and expense, from and against all infringement
                suits relating to the patents assigned to UAH and from and against
                any
                actual or threatened infringement claims or suits that are or may
                be
                brought or made against any Party to this Agreement relating to the
                Technology as defined herein that was not assigned to UAH. If Bio-Products
                cannot for financial reasons take such action, Bio-Products would
                request
                Licensee to provide such financial resources as are necessary to
                take such
                action. Licensee, in its sole discretion, may elect to provide the
                financial resources for Bio-Product and Licensee to jointly pursue
                such
                action. Any compensation recovered from such action would first be
                used to
                reimburse the Parties for their out-of-pocket expenses in relation
                to the
                suit, and any remaining funds would be divided equally between
                Bio-Products and Licensee. In the event of an unsuccessful outcome
                of such
                suit, any damages and out-of-pocket expenses of Licensee would be
                deducted
                from future royalty payments payable to Bio-Products at a rate of
                fifty
                percent (50%) of the amount due and payable from each royalty payment
                until all such damages and out-of-pocket expenses are
                recovered.

            

    

     

    
      	
               

            	
              (c)

            	
              In
                the event Bio-Products elects not to defend Licensee from and against
                any
                actual or threatened infringement claim or suit, Licensee shall have
                the
                right to defend such suit or claim. Licensee may elect to defend
                such
                suit, at Licensee’s sole costs and expense, from and against all
                infringement suits relating to the patents assigned to UAH and from
                and
                against any actual or threatened infringement claims or suits that
                are or
                may be brought or made against any Party to this Agreement relating
                to the
                Technology as defined herein that was not assigned to UAH. Licensee
                must
                agree to indemnify UAH and Bio-Products, the respective Trustees
                or
                Directors, officers and employees from any damages that may occur
                as a
                result of suit. Any compensation recovered from such action would
                first be
                used to reimburse the Parties for their out-of-pocket expenses in
                relation
                to the suit, and any remaining funds would be belong Licensee. In
                the
                event of an unsuccessful outcome of such suit, any damages and
                out-of-pocket expenses of UAH and Bio-Products would be reimbursed
                by
                Licensee.

            

    

    

    
      	
               

            	
              (d)

            	
              The
                Licensee shall at its own expense defend all infringement suits relating
                to any variations, modifications and alterations of the Technology
                that
                were made by the Licensee without the written acknowledgement and
                consent
                of Bio-Products to make any such variations, modifications, and
                alterations of the Technology, The Licensee shall not be entitled
                to any
                deduction from amounts due Bio-Products on account of such
                expenses.

            

    

    

    7.3           In
      connection with the defense by Bio-Products of any Third Party claims not
      addressed in Paragraphs 7.1 or 7.2, the Licensee shall participate and
      cooperate, as Bio-Products shall, from time to time, reasonably request. If
      the
      Licensee is called upon to take action in a way which shall require it to make
      available its own personnel or to retain counsel and/or experts, the Licensee
      shall be entitled to a deduction from any amounts due Bio-Products under this
      Agreement. If there are no such amounts due Bio-Products under this Agreement,
      then Bio-Products agrees to pay Licensee all personnel, counsel, expert and
      courts costs thirty days after notification of such expenses by the Licensee
      in
      connection with Bio-Products’ defense of such suits.

    

    ARTICLE
      VIII – FABRICATION AND CONSTRUCTION

    

    8.1           The
      Licensee shall use its best efforts to assure that all construction and
      fabrication meets or exceeds all required safety standards of the United States
      and the jurisdiction wherein the Technology shall be utilized.

    

    8.2           Bio-Products
      will use its best efforts to assure that all designs, processes, formulas,
      recipes, and plans to be provided to the Licensee meet or exceed all applicable
      and material safety standards of the United States and any jurisdiction wherein
      the Technology shall be utilized.

     

    8.3           The
      Licensee shall use its best efforts to obtain, or cause to be obtained, all
      material local, state and federal permits necessary for the construction and
      operation of any facility that will utilize the Technology.

    

    ARTICLE
      IX – CONFIDENTIALITY

    

    9.1           The
      Parties hereto each possess confidential information of both a technical and
      a
      non-technical nature. It is understood that it has been and may be necessary
      for
      one to disclose same to the other, and the Parties agree such disclosures have
      been and will be made under and subject to the following terms (Copies of
      respective Non-disclosure/Confidentiality Agreements are attached hereto as
      Exhibits C and D).

    

    ARTICLE
      X – AGREEMENT BETWEEN RIO-PRODUCTS AND UAH

    

    10.1           Bio-Products
      shall comply with all of the terms and conditions of, and perform all of its
      obligations under, the UAH License. Bio-Products shall not agree to any
      amendment or modification of the UAH License that would materially affect the
      terms and conditions of this Agreement without the written consent of
      Licensee.

    

    10.2           If
      at any time Bio-Products defaults in its duties in connection with, or by its
      conduct attempts to or actually terminates the UAH License which default and/or
      termination affects or terminates the ability of Bio-Products to grant the
      license contained in this Agreement, then the Licensee will be automatically
      entitled to and may at its sole discretion enter into contractual agreements
      with and pay directly to UAH the amounts necessary to obtain or maintain the
      UAH
      License. If Licensee does not enter into contractual agreements with UAH, but
      rather cures any financial default of Bio-Products only, then such sums paid
      to
      UAH on behalf of Bio-Products shall be deducted from any royalties owed to
      Bio-Products under this Agreement. If no such royalties are owed to Bio-Products
      under this Agreement then such sums will be treated as an interest free loan
      to
      Bio-Products.

    

    10.3           Any
      provision of this Agreement to the contrary notwithstanding, this Agreement
      shall be construed and interpreted so that the terms and conditions hereof
      shall
      not be inconsistent with the terms and conditions of the UAH License, attached
      hereto as Exhibit A.

    

    ARTICLE
      XI – PUBLICITY OF LICENSE

    

    11.1           All
      documents and visual aids using the name of The University of Alabama in
      Huntsville in any manner require submittal to and approval of the University.
      Upon the request of the Licensee, Bio-Products shall cooperate and provide
      assistance in the development of public statements, advertising, sales
      literature or promotional materials to describe or promote the Technology and
      assist in gaining University approval.

    

    ARTICLE
      XII – VISITS TO PREMISES

    

    12.1           The
      Licensee shall, from time to time, permit Bio-Products to bring visitors to
      tour
      any facility utilizing the Technology, provided, that Bio-Products shall notify
      the Licensee at least seventy-two (72) hours in advance of any proposed visit,
      that such visits shall be limited to reasonable times and intervals, and
      contingent upon each visitor signing an appropriate Confidentiality,
      Non-Disclosure and Non-Competition Agreement, and such visitors shall also
      be
      subject to all relevant safety and other regulations that apply to any other
      visitors to the facility. No persons other than those designated by Bio-Products
      shall have the right to visit any facility utilizing the Technology without
      the
      Licensee’s express written consent.

    

    ARTICLE
      XIII – EVENTS OF DEFAULT AND REMEDIES

    

    13.1.          The
      Licensee shall be in breach of this Agreement in the event of

    

    
      	
               

            	
              (a)

            	
              The
                Licensee’s failure to make any payment hereunder on or before the date on
                which such payment becomes due and payable and the continuation of
                such
                failure unremedied for thirty (30) days after written notice thereof
                has
                been given to the Licensee by
                Bio-Products;

            

    

    

    
      	
               

            	
              (b)

            	
              The
                Licensee’s failure to observe or perform any covenant, condition or
                agreement contained in this Agreement and the continuation of such
                failure
                unremedied for thirty (30) days after written notice thereof has
                been
                given to the Licensee by Bio-Products, unless such breach can not
                be
                remedied within such thirty (30) days for reasons beyond the Licensee’s
                control, in which case the Licensee shall have a reasonable time
                within
                which to remedy such breach; or

            

    

    

    
      	
               

            	
              (c)

            	
              Any
                warranty or representation made herein by the Licensee and contained
                in
                this Agreement, shall prove to have been false, misleading or incorrect
                in
                any material respect as of the date made, or shall have failed to
                state a
                fact necessary in order to make the statements made not
                misleading.

            

    

    

    No
      termination of this Agreement shall relieve the Licensee of the obligation
      to
      pay to Bio-Products all royalties, fees, and other payments accrued at the
      time
      of the termination.

    

    13.2           Bio-Products
      shall be in default of this Agreement in the event of:

    

    
      	
               

            	
              (a)

            	
              Bio-Products’
                failure to observe or perform any covenant, condition or agreement
                contained in this Agreement or in the UAH License and the continuation
                of
                such failure unremedied for thirty (3.0) days after written notice
                thereof
                shall have been given to Bio-Products by the
                Licensee;

            

    

    

    
      	
               

            	
              (b)

            	
              Any
                warranty or representation made herein by or on behalf of Bio-Products,
                contained in this Agreement or in the UAH License, shall prove to
                have
                been false, misleading or incorrect in any material respect as of
                the date
                made, or shall have failed to state a fact necessary in order to
                make the
                statements made not misleading; or

            

    

    

    
      	
               

            	
              (c)

            	
              If
                at any time BM-Products defaults in its duties in connection with,
                or by
                its conduct attempts to or actually terminates the UAH License which
                default and/or termination affects or terminates the ability of
                Bio-Products to grant the license contained in this Agreement, or
                affects
                or terminates Licensee’s ability to continue operation of existing plants
                or build new plants.

            

    

    

    13.3           The
      Licensee shall have the following remedies for breach or default of this
      Agreement or the UAH License by Bio-Products:

     

    
      	
               

            	
              (a)

            	
              Upon
                Bio-Products’ breach or termination of the UAH License or this Agreement,
                such that the breach or termination has affected the ability of Licensee
                to continue operation of existing plants and preclusion of building
                new
                plants, the Licensee may at its option terminate this Agreement and
                contract directly with UAH as provided in this Agreement., The Licensee
                and any sub-licensee shall utilize the Technology, free of any royalties,
                fees, and other amounts accrued through the date of such default
                or breach
                and thereafter.

            

    

     

    
      	
               

            	
              (b)

            	
              In
                addition to any other right or remedy available to the Licensee under
                this
                Agreement or in law or equity, upon Bio-Products’ breach or default of
                this Agreement or the UAH License, the Licensee shall be entitled
                to
                withhold and/or offset any and all royalties or other fees due to
                Bio-Products under this Agreement.

            

    

     

    
      	
               

            	
              (c)

            	
              Notwithstanding
                anything to the contrary in this Agreement, the Licensee may terminate
                this Agreement at any time upon six (6) months prior written notice
                to
                Bio-Products, at which time the Licensee will cease utilizing the
                Technology, and pay to Bio-Products any royalties, fees and other
                amounts
                accrued through the date of such termination. Immediately upon termination
                of this Agreement all rights, privileges and licenses granted to
                the
                Licensee hereunder shall revert to Bio-Products, including all
                sub-licenses of facilities granted by the
                Licensee.

            

    

     

    13.4           Upon
      the Licensees’ breach of this Agreement and it’s failure to cure said breach as
      provided above in 13.1, Bio-Products may, at its option, (i) terminate this
      Agreement, at which time Licensee shall cease utilizing the Technology and
      such
      termination shall relieve Licensee of its obligations to pay Bio-Products any
      further royalties or fees other than those fees and royalties already accrued
      through the date of termination and all sub-licenses granted by Licensee shall
      be assigned to Bio-Products; or (ii) Bio-Products may seeks to recover such
      damages to which it may be entitled by applicable law, including but not limited
      to, equitable and injunctive relief.

     

    
      
        	
                13.5 
                    

                 

                    

              	
                (a)

              	
                Upon
                  Bio-Products’ breach or termination of the UAH License or this Agreement,
                  such that the breach or termination has affected the ability of
                  Licensee
                  to continue operation of existing plants and preclusion of building
                  new
                  plants, the Licensee may at its option terminate this Agreement
                  and
                  contract directly with UAH as provided in this Agreement., The
                  Licensee
                  and any sub-licensee shall utilize the Technology, free of any
                  royalties,
                  fees, and other amounts accrued through the date of such default
                  or breach
                  and thereafter.

              

      

       

      
        
          	
                   

                	
                  (b)

                	
                  
                    Neither
                      of the Parties nor the arbitrator may disclose the existence,
                      content or
                      results of any arbitration hereunder without the prior written
                      consent of
                      the Parties except to counsel, accountants, and other need
                      to know
                      professionals.

                  

                

        

         

        
          
            	
                     

                  	
                    (c)

                  	
                    
                      All
                        fees and expenses of the arbitration shall be born by the
                        Parties equally.
                        However, each Party shall bear the expense of its own counsel,
                        experts,
                        witnesses, and preparation and presentation of
                        proofs.

                    

                  

          

           

          
            
              
                	
                         

                      	
                        (d)

                      	
                        
                          
                            In
                              the event that a claim or controversy over the right
                              of any Party to
                              terminate this Agreement shall be submitted for arbitration,
                              this
                              Agreement shall continue in full force and effect,
                              and the termination
                              shall be of no effect, until the arbitrator renders
                              a final
                              decision..

                          

                        

                      

              

               

            

          

        

      

    

    13.6           In
      the event of the commencement of a voluntary case under the Bankruptcy Code
      by
      the Licensee, or Licensee’s acquiescence in an involuntary petition under the
      Bankruptcy Code which voluntary or involuntary case remains undismissed for
      a
      period of ninety (90) days or more, the right and license conferred under this
      Agreement shall automatically become and shall thereafter be null and void.
      The
      commencement of a voluntary case under the Bankruptcy Code by Bio-Products,
      or
      Bio-Products’ acquiescence in an involuntary petition under the Bankruptcy Code,
      which voluntary or involuntary case remains undismissed for a period of ninety
      (90) days or more, shall be treated as a material breach of the
      Agreement,

     

    ARTICLE
      XIV – GENERAL PROVISIONS

     

    14.1           The
      titles of the various articles and sections of this Agreement are solely for
      convenience of reference and are not part of this Agreement for purposes of
      interpreting the provisions hereof.

    

    14.2           The
      Licensee may assign all of its rights and obligations under, and all of its
      interest in, this Agreement, including without limitation the license granted
      hereby, either (i) in a transaction accompanied by the sale or other transfer
      of
      the Licensee’s entire business, its stock, or substantially all of its assets,
      or (ii) to any other entity owned by the same shareholders of Licensee and
      this
      Agreement shall be binding upon, and inure to the benefit of, any such successor
      or assign of the Licensee, provided that Bier-Products consents in writing,
      such
      assignment shall not be unreasonably conditioned, withheld, or
      delayed..

    

    14.3           Nothing
      in this Agreement shall be deemed or construed to constitute or to create a
      partnership, joint venture or agency between the Parties. Except as may be
      otherwise provided herein, neither Party shall have any authority to bind the
      other Party in any respect.

    

    14.4           If
      any provision of this Agreement is or becomes unenforceable under any law of
      mandatory application, it is the intent of the Parties hereto that such
      provision will be deemed severed and omitted herefrom, the remaining portions
      hereof to remain in full force and effect as written.

    

    14.5           The
      waiver by any Party of any failure on the part of any other Party to perform
      any
      of its obligations under this Agreement shall not be construed as a waiver
      of
      any failure or continuing failure or failures, whether similar or dissimilar
      thereto.

    

    14.6           This
      Agreement, including the exhibits hereto, constitutes the entire Agreement
      between the Parties with respect to the subject matter hereof and supersedes
      all
      prior and contemporaneous agreements between the Parties, whether oral or
      written, related to the subject matter hereof. This Agreement may be amended
      or
      modified only by a written instrument executed by the authorized representatives
      of the Parties hereto.

    

    14.7           This
      Agreement may be executed in one or more counterparts, each of which shall
      be
      deemed to be a duplicate original, but all of which, taken together, constitute
      a single document. This Agreement may be executed by each Party on separate
      copies, which copies, when combined so as to include the signatures of all
      Parties, shall constitute a single counterpart of this Agreement.

    

    14.8           This
      Agreement shall be governed by and construed in accordance with the laws of
      the
      State of Alabama.

    

    14.9           Each
      Party to this Agreement shall execute all instruments and documents and take
      all
      actions as may be reasonably required to effectuate this Agreement.

    

    14.10         For
      purposes of venue and jurisdiction, this Agreement shall deemed made and to
      be
      performed in the City of Huntsville, Alabama.

    

    14.11         This
      Agreement and all exhibits contain the entire agreement between the Parties
      to
      this Agreement with respect to the subject matter of this Agreement, is intended
      as a final expression of such Parties’ agreement with respect to such terms as
      are included in this Agreement, is intended as a complete and exclusive
      statement of the terms of such agreement, and supersedes all negotiations,
      stipulations, understandings, agreements, representations and warranties, if
      any, with respect to such subject matter, which precede or accompany the
      execution of this Agreement.

     

    14.12         Whenever
      the context so requires in this Agreement, all words used in the singular shall
      be construed to have been used in the plural (and vice versa), each gender
      shall
      be construed to include any other genders.

    

    14.13         Subject
      to any restriction on transferability contained in this Agreement, this
      Agreement shall be binding upon and shall inure to the benefit of the
      successors-in-interest and permitted assigns of each Party to this Agreement.
      Nothing in this Paragraph shall create any rights enforceable by any Third
      Party
      that is not a Party to this Agreement, except for the rights of the
      successors-in-interest and permitted assigns of each Party to this Agreement,
      unless such rights are expressly granted in this Agreement to other specifically
      identified Third Parties.

    

    14.14          Except
      as otherwise provided in this Agreement, in the event any litigation,
      arbitration, mediation, or other proceeding (“Proceeding”) is initiated by any
      Party against any other Party to enforce, interpret or otherwise obtain judicial
      or quasi-judicial relief in connection with this Agreement, the prevailing
      Party
      in such Proceeding shall be entitled to recover from the unsuccessful Party
      all
      costs, expenses, and reasonable attorneys’ fees relating to or arising out of
      (a) such Proceeding (whether or not such Proceeding proceeds to judgment),
      and
      (b) any post- judgment or post-award proceeding including without limitation
      one
      to enforce any judgment or award resulting from any such Proceeding. Any such
      judgment or award shall contain a specific provision for the recovery of all
      such subsequently incurred costs, expenses, and actual attorneys’
fees.

    

    14.15          Any
      notice or other communication pursuant to this Agreement shall be sufficiently
      made or given five days after the date sent, postage pre-paid, by certified
      mail, return receipt requested, if sent to the following addresses, or to such
      other address as the Party may from time to time designate to the other Parties
      in writing:

    In
      the
      case of BM-Products:

    

    Dr.
      Michael H. Eley, President & CEO

    BIO-PRODUCTS
      INTERNATIONAL, INC

    3317
      Clifford. Road, NW

    Huntsville,
      Alabama .35810 USA

    256-852-3139
      (phone)

    256-436-6992
      (cellular)

    256-824-6305
      (fax)

    eleym
      @email.uah.eda (email)

    

    In
      the
      case of SRS Energy, Inc:

    

    Edward
      P.
      Hennessey, Jr., President

    SRS
      Energy, Inc.

    7320
      Forsyth Blvd., Unit 102

    St.
      Louis, MO 63105

    314-727-6253
      (phone)

    314-504-7504
      (cellular)

    ____________
      (fax)

    ehennesseyjr@sbcglobal.net
      (email)

    

    Each
      Party shall make a reasonable, good faith effort to ensure that it will accept
      or receive notices to it that are given in accordance with this paragraph.
      A
      Party may change its address for purposes of this paragraph by giving the other
      Parties written notice of a new address in the manner set forth
      above.

    

    14.16          In
      the event either Party hereto shall be rendered wholly or partly unable to
      perform its obligations under this Agreement by reason of causes beyond its
      control, including but not limited to acts of Nature, acts of terrorism, acts,
      omissions, or regulation of any government or agency thereof, judicial action,
      labor disputes, or transportation failure, except as specified herein, the
      performance of the obligations of such Party insofar as it is affected by such
      condition shall be suspended for the duration of such condition, provided the
      Party affected advises the other Party of the basis of its inability within
      ten
      (10) days of the beginning of such known inability. After the cessation of
      the
      condition causing such inability, the Party suffering such inability shall
      have
      a period of thirty (30) days to restore its operation(s) and restore its
      obligations to the other Party.

    

    14.17           No
      representations have been made to any Party regarding taxes, it being understood
      by each of the Parties that each such Party accepts full responsibility for
      calculation of and payment of his or its taxes, levies, duties or other charges
      incurred or imposed as a consequence of this Agreement and the transactions
      described herein.

    

    14.18           This
      Agreement shall become effective when it has been executed by all of the Parties
      to this Agreement.

    

    IN
      WITNESS WHEREOF, the Parties have caused their duly authorized representatives
      to duly execute and deliver this Agreement effective as of the date written
      above.

    

    

    BIO-PRODUCTS
      INTERNATIONAL, INC.

    

    

    

    By:     /s/
      Michael H.
      Eley                                

       Dr.
      Michael H.
      Eley, President & CEO

    

    

    

    SRS
      .ENERGY, INC.

    

    

    By:     /s/
      Edward P.
      Hennessey                        

      Edward
      P. Hennessey, Jr.,
      President

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