Document:

Exhibit
10.1

 

INDEPENDENT
DIRECTOR AGREEMENT

 OF

AELUMA,
INC.

 

This
INDEPENDENT DIRECTOR AGREEMENT (the “Agreement”) is made and entered into as of December 1, 2021 (the “Effective Date”),
by and between AELUMA, INC., a Delaware corporation (the “Company”), and Palvi Mehta, a citizen of United States, with a
permanent residence at [   ] (the “Independent Director”).

 

WHEREAS,
the Company desires to engage the Independent Director, and the Independent Director desires to serve, as a non-employee director of
the Company, subject to the terms and conditions contained in this Agreement.

 

NOW,
THEREFORE, in consideration of the mutual promises and covenants contained herein, the receipt of which is hereby acknowledged, the Company
and the Independent Director, intending to be legally bound, hereby agree as follows:

 

1. DEFINITIONS.

 

(a)
“Corporate Status” describes the capacity of the Independent Director with respect to the Company and the services
performed by the Independent Director in that capacity.

 

(b) “Entity”
shall mean any corporation, partnership, limited liability company, joint venture, trust, foundation, association, organization or other
legal entity.

 

(c) “Proceeding”
shall mean any threatened, pending or completed claim, action, suit, arbitration, alternate dispute resolution process, investigation,
administrative hearing, appeal, or any other proceeding, whether civil, criminal, administrative or investigative, whether formal or
informal, including a proceeding initiated by the Independent Director pursuant to Section 12 of this Agreement to enforce the Independent
Director’s rights hereunder.

 

(d) “Expenses”
shall mean all reasonable fees, costs and expenses, approved by the Company in advance and reasonably incurred in connection with any
Proceeding, including, without limitation, attorneys’ fees, disbursements and retainers, fees and disbursements of expert witnesses,
private investigators, professional advisors (including, without limitation, accountants and investment bankers), court costs, transcript
costs, fees of experts, travel expenses, duplicating, printing and binding costs, telephone and fax transmission charges, postage, delivery
services, secretarial services, and other disbursements and expenses.

 

(e) “Liabilities”
shall mean judgments, damages, liabilities, losses, penalties, excise taxes, fines and amounts paid in settlement.

 

(f) “Parent”
shall mean any corporation or other entity (other than the Company) in any unbroken chain of corporations or other entities ending with
the Company, if each of the corporations or entities, other than the Company, owns stock or other interests possessing 50% or more of
the economic interest or the total combined voting power of all classes of stock or other interests in one of the other corporations
or entities in the chain.

 

     

     

    

 

(g) “Subsidiary”
shall mean any corporation or other entity (other than the Company) in any unbroken chain of corporations or other entities beginning
with the Company, if each of the corporations or entities, other than the last corporation or entity in the unbroken chain, owns stock
or other interests possessing 50% or more of the economic interest or the total combined voting power of all classes of stock or other
interests in one of the other corporations or entities in the chain.

 

2. SERVICES
OF INDEPENDENT DIRECTOR. While this Agreement is in effect, the Independent Director shall perform duties as an independent director
and/or a member of the committees of the Board, be compensated for such and be reimbursed expenses in accordance with the Schedule A
attached to this Agreement, subject to the following:

 

(a) The
Independent Director will perform services as is consistent with Independent Director’s position with the Company, as required
and authorized by the By-Laws and Articles of Incorporation of the Company, and in accordance with high professional and ethical standards
and all applicable laws and rules and regulations pertaining to the Independent Director’s performance hereunder, including without
limitation, laws, rules and regulations relating to a public company.

 

(b) The
Independent Director is solely responsible for taxes arising out of any compensation paid by the Company to the Independent Director
under this Agreement, and the Independent Director understands that he will be issued a U.S. Treasury form 1099 for any compensation
paid to him by the Company. The Independent Director acknowledges and agrees that because he is not an employee of the Company the Company
will not withhold any amounts for taxes from any of his payments under the Agreement.

 

(c) The
Company may offset any and all monies payable to the Independent Director to the extent of any monies owing to the Company from the Independent
Director.

 

(d) The
rules and regulations of the Company notified to the Independent Director, from time to time, apply to the Independent Director. Such
rules and regulations are subject to change by the Company in its sole discretion. Notwithstanding the foregoing, in the event of any
conflict or inconsistency between the terms and conditions of this Agreement and rules and regulations of the Company, the terms of this
Agreement control.

 

3. REQUIREMENTS
OF INDEPENDENT DIRECTOR. During the term of the Independent Director’s services to the Company hereunder, Independent Director
shall observe all applicable laws and regulations relating to independent directors of a public company as promulgated from to time,
and shall not: (1) be an employee of the Company or any Parent or Subsidiary; (2) accept, directly or indirectly, any consulting, advisory,
or other compensatory fee from the Company other than as a director and/or a member of a committee of the Board; (3) be an affiliated
person of the Company or any Parent or Subsidiary, as the term “affiliate” is defined in 17 CFR 240.10A-3(e)(1), other than
in his capacity as a director and/or a member of a committee of the Board; (4) possess an interest in any transaction with the Company
or any Parent or Subsidiary, for which disclosure would be required pursuant to 17 CFR 229.404(a), other than in his capacity as a director
and/or a member of a committee of the Board committees; and (5) be engaged in a business relationship with the Company or any Parent
or Subsidiary, for which disclosure would be required pursuant to 17 CFR 229.404(b), except that the required beneficial interest therein
shall be modified to be 5% hereby.

 

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4. REPORT
OBLIGATION. While this Agreement is in effect, the Independent Director shall immediately report to the Company in the event: (1) the
Independent Director knows or has reason to know or should have known that any of the requirements specified in Section 3 hereof is not
satisfied or is not going to be satisfied; and (2) the Independent Director simultaneously serves on an audit committee of any other
public company.

 

5. TERM
AND TERMINATION. The term of this Agreement and the Independent Director’s services hereunder shall be for one (1) year from the
Effective Date, unless terminated as provided for in this Section 5. This Agreement and the Independent Director’s services hereunder
shall terminate upon the earlier of the following:

 

(a) Removal
of the Independent Director as a director of the Company, upon proper Board or stockholder action in accordance with the By-Laws and
Articles of Incorporation of the Company and applicable law;

 

(b) Resignation
of the Independent Director as a director of the Company upon written notice to the Board of Directors of the Company;

 

(c) Director’s
failure to be reelected by the Company’s stockholders at a meeting duly called for such purpose; or

 

(d) Termination
of this Agreement by the Company, in the event any of the requirements specified in Section 3 hereof is not satisfied, as determined
by the Company in its sole discretion.

 

6. LIMITATION
OF LIABILITY. In no event shall the Independent Director be individually liable to the Company or its shareholders for any damages for
breach of fiduciary duty as an independent director of the Company, unless the Independent Director’s act or failure to act involves
intentional misconduct, fraud or a knowing violation of law.

 

7. AGREEMENT
OF INDEMNITY. The Company agrees to indemnify the Independent Director as follows:

 

(a) Subject
to the exceptions contained in Section 8(a) below, if the Independent Director was or is a party or is threatened to be made a party
to any Proceeding (other than an action by or in the right of the Company) by reason of the Independent Director’s Corporate Status,
the Independent Director shall be indemnified by the Company against all Expenses and Liabilities incurred or paid by the Independent
Director in connection with such Proceeding (referred to herein as “INDEMNIFIABLE EXPENSES” and “INDEMNIFIABLE LIABILITIES,”
respectively, and collectively as “INDEMNIFIABLE AMOUNTS”).

 

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(b) Subject
to the exceptions contained in Section 8(b) below, if the Independent Director was or is a party or is threatened to be made a party
to any Proceeding by or in the right of the Company, to procure a judgment in its favor by reason of the Independent Director’s
Corporate Status, the Independent Director shall be indemnified by the Company against all Indemnifiable Expenses.

 

(c) For
purposes of this Agreement, the Independent Director shall be deemed to have acted in good faith in conducting the Company’s affairs
as an independent director of the Company and/or a member of a committee of the Board of the Company, if the Independent Director: (i)
exercised or used the same degree of diligence, care, and skill as an ordinarily prudent man would have exercised or used under the circumstances
in the conduct of his own affairs; or (ii) took, or omitted to take, an action in reliance upon advise of counsels or other professional
advisors for the Company, or upon statements made or information furnished by other directors, officers or employees of the Company,
or upon a financial statement of the Company provided by a person in charge of its accounts or certified by a public accountant or a
firm of public accountants, which the Independent Director had reasonable grounds to believe to be true.

 

8. EXCEPTIONS
TO INDEMNIFICATION. Director shall be entitled to indemnification under Sections 7(a) and 7(b) above in all circumstances other than
the following:

 

(a) If
indemnification is requested under Section 7(a) and it has been adjudicated finally by a court or arbitral body of competent jurisdiction
that, in connection with the subject of the Proceeding out of which the claim for indemnification has arisen, (i) the Independent Director
failed to act in good faith and in a manner the Independent Director reasonably believed to be in or not opposed to the best interests
of the Company, (ii) the Independent Director had reasonable cause to believe that the Independent Director’s conduct was unlawful,
or (iii) the Independent Director’s conduct constituted willful misconduct, fraud or knowing violation of law, then the Independent
Director shall not be entitled to payment of Indemnifiable Amounts hereunder.

 

(b) If
indemnification is requested under Section 7(b) and

 

(i) it
has been adjudicated finally by a court or arbitral body of competent jurisdiction that, in connection with the subject of the Proceeding
out of which the claim for indemnification has arisen, the Independent Director failed to act in good faith and in a manner the Independent
Director reasonably believed to be in or not opposed to the best interests of the Company, including without limitation, the breach of
Section 4 hereof by the Independent Director, the Independent Director shall not be entitled to payment of Indemnifiable Expenses hereunder;
or

 

(ii) it
has been adjudicated finally by a court or arbitral body of competent jurisdiction that the Independent Director is liable to the Company
with respect to any claim, issue or matter involved in the Proceeding out of which the claim for indemnification has arisen, including,
without limitation, a claim that the Independent Director received an improper benefit or improperly took advantage of a corporate opportunity,
the Independent Director shall not be entitled to payment of Indemnifiable Expenses hereunder with respect to such claim, issue or matter.

 

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9. WHOLLY
OR PARTLY SUCCESSFUL. Notwithstanding any other provision of this Agreement, and without limiting any such provision, to the extent that
the Independent Director is, by reason of the Independent Director’s Corporate Status, a party to and is successful, on the merits
or otherwise, in any Proceeding, the Independent Director shall be indemnified in connection therewith. If the Independent Director is
not wholly successful in such Proceeding but is successful, on the merits or otherwise, as to one or more but less than all claims, issues
or matters in such Proceeding, the Company shall indemnify the Independent Director against those Expenses reasonably incurred by the
Independent Director or on the Independent Director’s behalf in connection with each successfully resolved claim, issue or matter.
For purposes of this section, the termination of any claim, issue or matter in such a Proceeding by dismissal, with or without prejudice,
shall be deemed to be a successful result as to such claim, issue or matter.

 

10. ADVANCES
AND INTERIM EXPENSES. The Company may pay to the Independent Director all Indemnifiable Expenses incurred by the Independent Director
in connection with any Proceeding, including a Proceeding by or in the right of the Company, in advance of the final disposition of such
Proceeding, if the Independent Director furnishes the Company with a written undertaking, to the satisfaction of the Company, to repay
the amount of such Indemnifiable Expenses advanced to the Independent Director in the event it is finally determined by a court or arbitral
body of competent jurisdiction that the Independent Director is not entitled under this Agreement to indemnification with respect to
such Indemnifiable Expenses.

 

11. PROCEDURE
FOR PAYMENT OF INDEMNIFIABLE AMOUNTS. The Independent Director shall submit to the Company a written request specifying the Indemnifiable
Amounts, for which the Independent Director seeks payment under Section 7 hereof and the Proceeding of which has been previously notified
to the Company and approved by the Company for indemnification hereunder. At the request of the Company, the Independent Director shall
furnish such documentation and information as are reasonably available to the Independent Director and necessary to establish that the
Independent Director is entitled to indemnification hereunder. The Company shall pay such Indeminfiable Amounts within thirty (30) days
of receipt of all required documents.

 

12. REMEDIES
OF INDEPENDENT DIRECTOR.

 

(a) RIGHT
TO PETITION COURT. In the event that the Independent Director makes a request for payment of Indemnifiable Amounts under Sections 7,
9-11 above, and the Company fails to make such payment or advancement in a timely manner pursuant to the terms of this Agreement, the
Independent Director may petition the appropriate judicial authority to enforce the Company’s obligations under this Agreement.

 

(b) BURDEN
OF PROOF. In any judicial proceeding brought under Section 12 (a) above, the Company shall have the burden of proving that the Independent
Director is not entitled to payment of Indemnifiable Amounts hereunder.

 

(c) EXPENSES.
The Company agrees to reimburse the Independent Director in full for any Expenses incurred by the Independent Director in connection
with investigating, preparing for, litigating, defending or settling any action brought by the Independent Director under Section 12
(a) above, or in connection with any claim or counterclaim brought by the Company in connection therewith.

 

(d) VALIDITY
OF AGREEMENT. The Company shall be precluded from asserting in any Proceeding, including, without limitation, an action under Section
12 (a) above, that the provisions of this Agreement are not valid, binding and enforceable or that there is insufficient consideration
for this Agreement and shall stipulate in court that the Company is bound by all the provisions of this Agreement.

 

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(e) FAILURE
TO ACT NOT A DEFENSE. The failure of the Company (including its Board of Directors or any committee thereof, independent legal counsel,
or stockholders) to make a determination concerning the permissibility of the payment of Indemnifiable Amounts or the advancement of
Indemnifiable Expenses under this Agreement shall not be a defense in any action brought under Section 12 (a) above.

 

13. PROCEEDINGS
AGAINST COMPANY. Except as otherwise provided in this Agreement, the Independent Director shall not be entitled to payment of Indemnifiable
Amounts or advancement of Indemnifiable Expenses with respect to any Proceeding brought by the Independent Director against the Company,
any Entity which it controls, any director or officer thereof, or any third party, unless the Company has consented to the initiation
of such Proceeding. This section shall not apply to counterclaims or affirmative defenses asserted by the Independent Director in an
action brought against the Independent Director.

 

14. SUBROGATION.
In the event of any payment of Indemnifiable Amounts under this Agreement, the Company shall be subrogated to the extent of such payment
to all of the rights of contribution or recovery of the Independent Director against other persons, and the Independent Director shall
take, at the request of the Company, all reasonable action necessary to secure such rights, including the execution of such documents
as are necessary to enable the Company to bring suit to enforce such rights.

 

15. AUTHORITY.
Each party has all necessary power and authority to enter into, and be bound by the terms of, this Agreement, and the execution, delivery
and performance of the undertakings contemplated by this Agreement have been duly authorized by each party hereto.

 

16. SUCCESSORS
AND ASSIGNMENT. This Agreement shall (a) be binding upon and inure to the benefit of all successors and assigns of the Company (including
any transferee of all or a substantial portion of the business, stock and/or assets of the Company and any direct or indirect successor
by merger or consolidation or otherwise by operation of law), and (b) be binding on and shall inure to the benefit of the heirs, personal
representatives, executors and administrators of the Independent Director. The Independent Director has no power to assign this Agreement
or any rights and obligations hereunder.

 

17. CHANGE
IN LAW. To the extent that a change in applicable law (whether by statute or judicial decision) shall mandate broader or narrower indemnification
than is provided hereunder, the Independent Director shall be subject to such broader or narrower indemnification and this Agreement
shall be deemed to be amended to such extent.

 

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18. SEVERABILITY.
Whenever possible, each provision of this Agreement shall be interpreted in such a manner as to be effective and valid under applicable
law, but if any provision of this Agreement, or any clause thereof, shall be determined by a court of competent jurisdiction to be illegal,
invalid or unenforceable, in whole or in part, such provision or clause shall be limited or modified in its application to the minimum
extent necessary to make such provision or clause valid, legal and enforceable, and the remaining provisions and clauses of this Agreement
shall remain fully enforceable and binding on the parties.

 

19. MODIFICATIONS
AND WAIVER. Except as provided in Section 17 hereof with respect to changes in applicable law which broaden or narrow the right of the
Independent Director to be indemnified by the Company, no supplement, modification or amendment of this Agreement shall be binding unless
executed in writing by each of the parties hereto. No delay in exercise or non-exercise by the Company of any right under this Agreement
shall operate as a current or future waiver by it as to its same or different rights under this Agreement or otherwise.

 

20. NOTICES.
All notices, requests, demands and other communications hereunder shall be in writing and shall be deemed to have been duly given (a)
when delivered by hand, (b) when transmitted by facsimile or electronic mail and receipt is acknowledged, or (c) if mailed by certified
or registered mail with postage prepaid, on the third business day after the date en which it is so mailed:

 

If
to Independent Director, to: Palvi Mehta, [address].

 

If
to the Company, to: Jonathan Klamkin, AELUMA, INC., 27 Castilian Drive, Goleta, CA 93117 or to such other address as may have been furnished
in the same manner by any party to the others.

 

21. GOVERNING
LAW. This Agreement shall be governed by and construed and enforced under the laws of Delaware.

 

22. CONSENT
TO JURISDICTION. The parties hereby consent to the jurisdiction of the courts having jurisdiction over matters arising in New York County,
New York for any proceeding arising out of or relating to this Agreement. The parties agree that in any such proceeding, each party shall
waive, if applicable, inconvenience of forum and right to a jury.

 

23. AGREEMENT
GOVERNS. This Agreement is to be deemed consistent wherever possible with relevant provisions of the By-Laws and Articles of Incorporation
of the Company; however, in the event of a conflict between this Agreement and such provisions, the provisions of this Agreement shall
control.

 

24. INDEPENDENT
CONTRACTOR. The parties understand, acknowledge and agree that the Independent Director’s relationship with the Company is that
of an independent contractor and nothing in this Agreement is intended to or should be construed to create a relationship other than
that of independent contractor. Nothing in this Agreement shall be construed as a contract of employment/engagement between the Independent
Director and the Company or as a commitment on the part of the Company to retain the Independent Director in any capacity, for any period
of time or under any specific terms or conditions, or to continue the Independent Director’s service to the Company beyond any
period.

 

25. ENTIRE
AGREEMENT. This Agreement constitutes the entire agreement between the Company and the Independent Director with respect to the subject
matter hereof, and supersedes all prior understandings and agreements with respect to such subject matter.

 

[remainder
of the page intentionally left blank]

 

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IN
WITNESS WHEREOF, the parties hereto have executed this Independent Director Agreement as of the day and year first above written.

 

	Company:
    AELUMA, INC.	 
	 	 
	/s/ Jonathan
    Klamkin	 
	Authorized
    Person: Jonathan Klamkin	 
	 	 
	Independent
    Director: Palvi Mehta	 
	 	 
	/s/ Palvi
    Mehta	 
	Signature	 

 

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SCHEDULE
A

 

IPOSITION:INDEPENDENT
DIRECTOR.

 

II. COMPENSATION:

 

FEES.
For all services rendered by the Independent Director pursuant to this Agreement, both during and outside of normal working hours, including
but not limited to, attending all required meetings of the Board or applicable committees thereof, executive sessions of the independent
directors, reviewing filing reports and other corporate documents as requested by the Company, providing comments and opinions as to
business matters as requested by the Company, the Company agrees to compensate the Independent Director as set forth herein.  

 

STOCK.
The Independent Director shall be granted a total amount of 125,000 stock options to purchase the Company’s Common Stock, at an
exercise price of $2.00 per share, which shall vest in accordance with the following schedule:

 

		●	50,000
                                            stock options – for one year of service as independent director with vesting in equal
                                            quarterly increments

 

		●	37,500
                                            stock options – for a second year of service as independent director with vesting in
                                            equal quarterly increments*

 

		●	37,500
                                            stock options – for a third year of service as independent director with vesting in
                                            equal quarterly increments* 

 

*assumes
reelection of Independent Director to an additional one-year term. If Independent Director is not reelected, resigns or is otherwise
terminated in accordance with the terms of this Agreement and/or the Company’s bylaws, any unvested options will be cancelled by
the Company.

 

Additional
compensation will be issued to Independent Director after the formation of committees for his/her service as below:

 

		●	Service
                                            on audit committee: 5,000 stock options per year (10,000 stock options per year for
                                            the chair of such committee) – payable in quarterly increments with immediate vesting

 

		●	Service
                                            on compensation committee: 3,750 stock options per year (7,500 stock options per year
                                            for the chair of such committee) – payable in quarterly increments with immediate vesting

 

		●	Service
                                            on nominating/governance committee: 3,000 stocks per year (6,000 stock options per
                                            year for the chair of such committee) – payable in quarterly increments with immediate
                                            vesting

 

All
options, unless otherwise specified, will have an exercise price equal to the fair market value at the time of issuance. The number of
options for committee service compensation will be subject to quarterly adjustment.

 

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EXPENSES.
During the term of the Independent Director’s service as a director of the Company, the Company shall promptly reimburse the Independent
Director for all expenses incurred by him/her in connection with attending (a) all meetings of the Board or applicable committees thereof,
(b) executive sessions of the independent directors, and (c) stockholder meetings, as a director or a member of any committee of the
Board, provided that any such expenses over $500.00 shall be approved by the Company in writing in advance. In addition, the Independent
Director shall rely on the Company to arrange all hotel accommodations in connection with any such meetings the Independent Director
must attend. The amount of such expenses eligible for reimbursement by the Company during a calendar year shall not affect such expenses
eligible for reimbursement by the Company in any other calendar year, and the reimbursement of any such eligible expenses shall be made
on or before the last day of the calendar year next following the calendar year in which the expense was incurred.

 

NO
OTHER BENEFITS OR COMPENSATION. The Independent Director acknowledges and agrees that he is not granted or entitled to any other benefits
or compensation from the Company for services provided under this Agreement except expressly provided for in this Schedule A.

 

Dated:
November 16, 2021

 

	AGREED BY:	 	AGREED BY:
	 	 	 
	Company: AELUMA, INC.	 	Independent Director: Palvi Mehta
	 	 	 
	/s/ Jonathan Klamkin	 	/s/ Palvi Mehta
	Name:  	Jonathan Klamkin	 	Name:  	Palvi Mehta
	Title: 	Chief Executive Officer 	 	 
	 	& Principal Financial Officer & Chairman	 	 

 

    10Filed by Avantafile.com - Peptide Technologies, Inc. -  Exhibit 10.1

 

 

  

ASSET
PURCHASE AGREEMENT DATED AS OF

 

November
15, 2021

 

BY
AND AMONG

 

peptide
technologies inc

AND

 

DEBORAH L. AND GREGORY
P. PILANT 

 

  

 

 

ASSET PURCHASE AGREEMENT

 

This Asset Purchase Agreement, dated as of November 15, 2021
(the “Agreement”), is by and among PEPTIDE TECHNOLGIES INC. Corp, a Nevada Corporation
(referred to as “PEPT”), and DEBORAH L. AND GREGORY P. PILANT (referred to as “SELLER”). 

 

WHEREAS, PEPT, and SELLERS, respectively, have each approved, as being in the
best interests of the respective entities, the Acquisition (the
"Acquisition") of certain assets of SELLER by PEPT.

 

WHEREAS, PEPT shall acquire from SELLER the assets
listed on Exhibit A in consideration of 150,000,000 restricted common shares of
PEPT to be conveyed to SELLER. And Ten Million USD funds (No Interest) to be
paid from PEPT to SELLER from revenue generated and or Investment money into
PEPT, within the first 60 months, from date of this agreement.

 

WHEREAS, PEPT and SELLER desire to make certain representations, warranties,
covenants and agreements in connection with the Acquisition and also to
prescribe various conditions to the Acquisition; and

 

WHEREAS, this Agreement is intended to set forth the terms upon which SELLER
will irrevocably sell all of their rights, title and interest in and to the
assets, whatsoever;

 

NOW, THEREFORE, in consideration of the foregoing and the
respective representations, warranties, covenants and agreements set forth
herein, and for other good and valuable consideration the receipt and adequacy
of which are hereby acknowledged, and intending to be legally bound hereby, the
parties do hereby agree as follows:

 

ARTICLE I

THE ACQUISITION

 

SECTION 1.0

 

            PEPT agrees to buy,
and SELLER agree to sell whatever rights, title or interests the Sellers have
in the assets by Assignment of such assets and intellectual property as
described on Exhibit A hereto, for consideration as follows: 

 

	 	(a)	150,000,000 restricted common shares of PEPT to be conveyed to Sellers
	 	(b)	$10,000,000. (Ten Million USD Dollars)

 

 

ARTICLE II

THE CLOSING

 

SECTION 2.01.                    
Closing.

 

Unless this Agreement shall have been
terminated and the transactions herein contemplated shall have been abandoned
pursuant to Article VIII, and subject to the satisfaction or waiver of the
conditions set forth in Article VII, the closing of the Acquisition (the
"Closing") shall take place as soon as reasonably practicable (but in
no event on written notice of less than two (2) business days) after all of the
conditions set forth in Article VII are satisfied or, to the extent permitted
thereunder, waived, at the offices of PEPT or at such other time and place as
may be agreed to in writing by the parties hereto (the date of such Closing
being referred to herein as the "Closing Date"), but in no event
later than November 25, 2021.

 

ARTICLE III

REPRESENTATIONS AND WARRANTIES OF PEPT

 

Except as set forth in the applicable section of the disclosure
schedule delivered by PEPT to SELLER prior to the execution of this Agreement
(the "PEPT Disclosure Schedule"), PEPT represents and warrants to
SELLER as follows:

 

SECTION 3.01.                    
Organization of PEPT; Authority.

 

PEPT is a corporation duly
organized, validly existing and in good standing under the laws of the State of
Nevada. PEPT has all requisite corporate power and corporate authority to enter
into the Transaction Documents to which it is a party, to consummate the
transactions contemplated hereby and thereby, to own, lease and operate its
properties and to conduct its business. The execution, delivery and performance
by each of PEPT of the Transaction Documents to which it is a party and the
consummation of the transactions contemplated hereby and thereby have been duly
authorized by all necessary corporate action on the part of PEPT, including,
without limitation the approval of the board of directors of PEPT. The
Transaction Documents have been duly executed and delivered by each of PEPT
and, assuming that the Transaction Documents constitute a valid and binding
obligation of the other parties thereto, constitute a valid and binding
obligation of each of PEPT, enforceable against PEPT in accordance with its
terms. 

 

ARTICLE IV

REPRESENTATIONS
AND WARRANTIES OF SELLER

 

SELLER represents and warrants to PEPT as follows:

 

SECTION 4.01.                    
Authority

 

SELLER have all requisite corporate power and corporate authority to enter
into the Transaction Documents, to consummate the transactions contemplated
hereby. The execution, delivery and performance of the Transaction Documents
and the consummation of the transactions contemplated hereby and thereby have
been duly authorized by both SELLER.  The
Transaction Documents have been duly executed and delivered by SELLER and,
assuming that the Transaction Documents constitute a valid and binding
obligation of PEPT, constitute a valid and binding obligation of SELLER. SELLER
are not in violation of its organizational documents.

SECTION 4.02.                    
No Violation; Consents and Approvals. 

 

The execution and delivery by SELLER of the Transaction Documents does
not, and the consummation of the transactions contemplated hereby and thereby
and compliance with the terms hereof and thereof will not conflict with, or
result in any violation of or default (or an event which, with notice or
lapse of time or both, would constitute a default) under, (a) any Laws
applicable to SELLER or the property or assets of SELLER, or (b) give rise to
any right of termination, cancellation or acceleration under, or result in the
creation of any Lien upon any of the properties of SELLER under, any Contracts
to which SELLER is a party or by which SELLER or any of its assets may be
bound, except, in the case of clauses (a) and (b), for such conflicts,
violations or defaults as to which requisite waivers or consents will have been
obtained prior to the Closing or which, individually or in the SELLER, would
not have a Material Adverse Effect. 

 

SECTION 4.03.                    
Litigation; Compliance with Laws.

 

There are: (i) no known claims, actions, suits, investigations or proceedings pending or, to the knowledge of SELLER, threatened against, relating to or affecting SELLER  its business, its assets (excluding the assets which are a subject of this agreement), or any employee or independent contractor of SELLER  in their capacities as such, and (ii) no orders of any Governmental Entity or arbitrator are outstanding against SELLER, its business, its assets, or any employee, officer, director, stockholder, or independent contractor of SELLER in their capacities as such, or that could prevent or enjoin, or delay in any respect, consummation of the transactions contemplated hereby. 

 

SECTION 4.04.                    
No Liens or Encumbrances.

 

SELLER is conveying the assets free and clear of any liens or encumbrances incurred or accrued by SELLER warranties and representations that the assets are being conveyed with good title and free and clear of any Liens or claims of patent infringement.

 

SECTION 4.05. 
SELLER’s representations and warranties contained herein are in regard
to SELLER and its assets only. SELLER makes no representation or warranty
whatsoever.  

 

ARTICLE V 

REPRESENTATIONS AND
WARRANTIES OF PEPT

 

PEPT represents and warrants to SELLER as follows:

 

SECTION 5.01.                    
 Organization of
PEPT; Authority. 

 

PEPT is a corporation duly organized, validly existing and in good
standing under the laws of the State of Nevada and has all requisite corporate
power and corporate authority to enter into the Transaction Documents, to
consummate the transactions contemplated hereby and thereby, to own, lease and
operate its properties and to conduct its business. The execution, delivery and
performance by PEPT of the Transaction Documents and the consummation of the
transactions contemplated hereby and thereby have been duly authorized by all
necessary corporate action on the part of PEPT, including, without limitation,
the approval of the board of directors of PEPT. The Transaction Documents have
been duly executed and delivered by PEPT and, assuming that the Transaction
Documents constitute a valid and binding obligation of SELLER, constitute a
valid and binding obligation of PEPT. PEPT is not in violation of its
organizational documents.

SECTION 5.02.                    
No Violation; Consents and Approvals. 

 

The execution and delivery by PEPT of the Transaction Documents does
not, and the consummation of the transactions contemplated hereby and thereby
and compliance with the terms hereof and thereof will not conflict with, or
result in any violation of or default (or an event which, with notice or
lapse of time or both, would constitute a default) under, (a) the terms and
conditions or provisions of the articles of incorporation or by-laws of PEPT,
(b) any Laws applicable to PEPT or the property or assets of PEPT, or (c) give
rise to any right of termination, cancellation or acceleration under, or result
in the creation of any Lien upon any of the properties of PEPT under, any
Contracts to which PEPT is a party or by which PEPT or any of its assets may be
bound, except, in the case of clauses (b) and (c), for such conflicts,
violations or defaults as to which requisite waivers or consents will have been
obtained prior to the Closing or which, individually or in the PEPT, would not
have a Material Adverse Effect. 

 

SECTION 5.03.                    
Litigation; Compliance with Laws.

 

(a)  There are: (i) no known claims, actions, suits, investigations or proceedings pending or, to the knowledge of PEPT, threatened against, relating to or affecting PEPT’s  business, its assets, or any employee, officer, director, stockholder, or independent contractor of PEPT in their capacities as such, and (ii) no orders of any Governmental Entity or arbitrator are outstanding against PEPT, its business, its assets, or any employee, officer, director, stockholder, or independent contractor of PEPT in their capacities as such, or that could prevent or enjoin, or delay in any respect, consummation of the transactions contemplated hereby.

 

(b)  PEPT has complied and is in compliance in all material respects with all Laws applicable to PEPT, its business or its assets. PEPT has not received notice from any Governmental Entity or other Person of any material violation of Law applicable to it, its business or its assets. 

 

SECTION 5.04.                    
PEPT’s representations
and warranties contained herein are in regard to PEPT and its assets only.
SELLER makes no representation or warranty whatsoever on behalf of SELLER.  

ARTICLE VI

ADDITIONAL AGREEMENTS

 

SECTION 6.01.                    
Legal Conditions to Acquisition; Reasonable Efforts.

 

Each of SELLER and PEPT shall take all reasonable actions necessary to
comply promptly with all legal requirements which may be imposed on itself with
respect to the Acquisition and will promptly cooperate with and furnish
information to each other in connection with any such requirements imposed upon
any of them or any of their Subsidiaries in connection with the Acquisition. 

 

SECTION 6.02.                    
Certain Filings.

 

Each party shall cooperate with the other in connection with the
preparation of public notices. Each party shall consult with the other in
connection with the foregoing and shall use all reasonable commercial efforts
to take any steps as may be necessary in order to obtain any consents,
approvals, permits or authorizations required in connection with the
Acquisition.

 

ARTICLE VII

CONDITIONS OF THE ACQUISITION

 

SECTION 7.01.                    
Conditions to Each Party's Obligation to Effect the
Acquisition.

 

The respective obligations of each party to effect the Acquisition and
the other transactions contemplated herein shall be subject to the satisfaction
at or prior to the closing date of the following condition of which may be
waived:

 

(a)                No Injunctions or Restraints. No governmental authority of competent jurisdiction shall have enacted, issued, promulgated, enforced or entered any statute, rule, regulation, execution order, decree, injunction or other order (whether temporary, preliminary or permanent) which is in effect and which materially restricts, prevents or prohibits consummation of the Acquisition or any transaction contemplated by this Agreement; provided, however, that the parties shall use their reasonable commercial efforts to cause any such decree, judgment, injunction or other order to be vacated or lifted.

 

SECTION 7.02.                    
Additional Conditions of Obligations of PEPT.

 

The obligations of PEPT to effect the Acquisition and the other
transactions contemplated by this Agreement are also subject to the
satisfaction at or prior to the Closing Date of the following additional conditions
unless waived by PEPT:

 

(a)                Representations and Warranties. The representations and warranties of SELLER set forth in this Agreement shall be true and correct in all material respects (except for those representations and warranties qualified by materiality, which shall be true and correct in all respects) as of the date of this Agreement and as of the Closing Date as though made on and as of the Closing Date, except as otherwise contemplated by this Agreement.

(b)               Performance of Obligations of SELLER. SELLER shall have performed in all material respects all conditions, covenants, agreements and obligations required to be performed by it under this Agreement at or prior to the Closing Date, and SELLER shall have provided title evidence on the assets to be conveyed, satisfactory to PEPT.

 

(c)                No Governmental Order or Other Proceeding or Litigation. No order of any Governmental Entity shall be in effect that restrains or prohibits the transactions contemplated hereby and by the other Transaction Documents, and no suit, action or other proceeding by any Governmental Entity shall have been instituted or threatened which seeks to restrain or prohibit the transactions contemplated hereby or thereby.

 

(i)             Access to Information. PEPT will have full access, during normal business hours of the, to the, "Assets” per Exhibit A and all information necessary for the acquisition. SELLER will deliver to PEPT copies of all documents pertaining to the “formulas” and all know how per Exhibit A, after the completion (signed by all parties) of the Asset Purchase Agreement.

 

(d)               Deliverables of SELLER. At the Closing, SELLER shall have delivered to PEPT: 

 

(i)            
An
Assignment of Interest in the Assets and Intellectual Property described on
Exhibit A;

 

(ii)          
All data, documentation, testing, designs, and
protocols appurtenant to the Assets described on Exhibit A.

 

(e)               
Deliverables of PEPT At the Closing, PEPT shall have
delivered to SELLER.

 

(i)                
Duly and
validly issued, fully paid, and non-assessable stock certificates for 150
million common "restricted" shares of PEPT to SELLER as they instruct
in writing.

 

SECTION 7.03.                    
Additional Conditions of Obligations of SELLERS.

 

The obligation of SELLERS to effect the Acquisition and the other
transactions contemplated by this Agreement is also subject to the satisfaction
at or prior to the Closing Date of the following additional conditions unless
waived by SELLERS:

 

(a)               
Representations
and Warranties. The representations and warranties of PEPT set forth in this
Agreement shall be true and correct in all material respects (except for those
representations and warranties qualified by materiality) as of the date of this
Agreement and as of the Closing Date as though made on and as of the Closing
Date, except as otherwise contemplated by this Agreement.

 

(b)              
Performance
of Obligations of PEPT. PEPT shall have performed in all material respects all
conditions, covenants, agreements and obligations required to be performed by
them under this Agreement at or prior to the Closing Date.

(c)               
No
Governmental Order or Other Proceeding or Litigation. No order of any
Governmental Entity shall be in effect that restrains or prohibits the
transactions contemplated hereby and by the other Transaction Documents, and no
suit, action or other proceeding by any Governmental Entity shall have been
instituted or threatened which seeks to restrain or prohibit the transactions
contemplated hereby or thereby.

 

(d)              
Deliveries.

 

At the Closing, PEPT shall
have delivered, the consideration deliverable to SELLERS as set forth in
Article 7.02(d)

 

ARTICLE VIII

TERMINATION AND EXPENSES

 

SECTION 8.01.                    
Termination.

 

This Agreement may be terminated at any time prior to the Effective
Time by PEPT or SELLERS as set forth below:

 

(a)               
by
mutual consent of the boards of directors of PEPT and SELLERS; or

 

(b)              
by PEPT
upon written notice to SELLER, if: (A) any condition to the obligation of PEPT
to close contained in Article VII hereof has not been satisfied by closing date
(unless such failure is the result of PEPT's breach of any of its
representations, warranties, covenants or agreements contained herein; or

 

(c)               
by SELLER
upon written notice to PEPT, if: (A) any condition to the obligation of SELLERS
to close contained in Article VII hereof has not been satisfied by the Closing
Date (unless such failure is the result of SELLERS' breach of any of its
representations, warranties, covenants or agreements contained herein); or

 

(d)              
by PEPT if the board of directors or special
committee of PEPT determines in good faith, based upon the written opinion of
its outside legal counsel, that the failure to terminate this Agreement would
constitute a breach of the fiduciary duties of the PEPT board of directors or
special committee to the PEPT stockholders under applicable law; or

 

SECTION 8.02.                    
Fees and Expenses.

 

(a)               
Whether or not the Acquisition is consummated, all
costs and expenses incurred in connection with this Agreement and the
transactions contemplated hereby shall be paid by the party incurring such
expense. 

 

ARTICLE IX 

CONDITIONS PRECEDENT

 

SECTION 9.01.                    
 

 

	 	•	The obligation of PEPT to purchase the "Formula Intangible Assets" will be subject to satisfaction of the following conditions within 10 days after execution of this Agreement.

 

	 	•	Review and approval of all materials in the possession and control of SELLER which are germane to the decision to purchase the Property;

 

	 	•	No material adverse change having occurred in connection with the business of the "Formula Intangible Assets";

 

	 	•	All representations and warranties of SELLER being true and all covenants of them having been performed in all material respects of the Closing;

 

	 	•	No legal proceedings pending or threatened to enjoin, restrict, or prohibit the transactions contemplated in this Agreement;

 

	 	•	No liens, liabilities, or encumbrances on "Said Assets";

 

	 	•	A satisfactory legal opinion available from SELLER counsel;

 

	 	•	Approval of the Board of Directors of the public company to be known as Peptide Technologies Inc. being obtained and evidenced in writing in its proper formal manner

 

It would be the expectation of the Purchase
that many of the Conditions Precedent will be narrowed or eliminated altogether
as the Purchaser completes its due diligence and the Formal Agreement and
schedules thereto are finalized.

 

ARTICLE
X

SURVIVAL OF REPRESENTATIONS AND WARRANTIES

 

None of the representations and warranties of
the parties set forth in this Agreement shall survive the Closing. Following
the Closing Date with respect to any particular representation or warranty, no
party hereto shall have any further liability with respect to such representation
and warranty. None of the covenants, agreements and obligations of the parties
hereto shall survive the Closing.

ARTICLE XI

MISCELLANEOUS

 

SECTION 11.01.                
Notices.

 

All notices, requests and other communications to any party hereunder
shall be in writing (including telecopy, telex or similar writing) and shall be
deemed given or made as of the date delivered, if delivered personally or by
telecopy (provided that delivery by telecopy shall be followed by delivery of
an additional copy personally, by mail or overnight courier), one day after
being delivered by overnight courier or three days after being mailed by
registered or certified mail (postage prepaid, return receipt requested), to
the parties at the following addresses: 

 

if to PEPT, to:

 

Peptide Technologies Inc. 

5348 Vegas Drive 

Suite 177 

Las Vegas, Nevada  39108

 

            if
to SELLERS, to:

 

If Greg Pilant 

166 Lisa Drive 

Gordonsville, Tennessee. 38563 

gpilant@ail.com

 

            With
a copy to:

 

David M Dunlap 

85 Grove Park Circle 

Memphis, TN. 38117 

Phone: (9)1) 550-7419 

Email: dmdlaw@mac.com

 

or such other address or telex or telecopy number as such party may
hereafter specify for the purpose by notice to the other party hereto. 

 

SECTION 11.02.                
Amendment; Waiver.

 

This Agreement may be amended, modified or supplemented, and waivers or
consents to departures from the provisions hereof may be given, provided that
the same are in writing and signed by or on behalf of the parties hereto.

SECTION 11.03.                
Successors and Assigns.

 

The provisions of this Agreement shall be binding upon and inure to the
benefit of the parties hereto and their respective successors and assigns,
provided that no party shall assign, delegate or otherwise transfer any of its
rights or obligations under this Agreement without the written consent of the
other party hereto.

 

SECTION 11.04.                
Governing Law.

 

This Agreement shall be construed in accordance with and governed by
the law of the State of Nevada without regard to principles of conflict of
laws.

 

SECTION 11.05.                
Waiver of Jury Trial.

 

Each party hereto hereby
irrevocably and unconditionally waives any rights to a trial by jury in any
legal action or proceeding in relation to this Agreement and for any
counterclaim therein.

 

SECTION 11.06.                
Consent to Jurisdiction.

 

Each of the Parties
hereby irrevocably and unconditionally submits to the exclusive jurisdiction of
any court of the State of Nevada or any federal court sitting in Nevada for
purposes of any suit, action or other proceeding arising out of this Agreement
and the Transaction Documents (and agrees not to commence any action, suit or
proceedings relating hereto or thereto except in such courts). Each of the
Parties agrees that service of any process, summons, notice or document
pursuant to the laws of the State of Nevada shall be effective service of
process for any action, suit or proceeding brought against it in any such
court.

 

SECTION 11.07.                
Counterparts; Effectiveness.

 

Facsimile transmissions of any executed original document and/or
retransmission of any executed facsimile transmission shall be deemed to be the
same as the delivery of an executed original. This Agreement may be signed in
any number of counterparts, each of which shall be an original, with the same
effect as if the signatures thereto and hereto were upon the same instrument. 

 

SECTION 11.08.                
Entire Agreement; No Third Party Beneficiaries; Rights of
Ownership.

 

Except as expressly provided herein, this Agreement (including the
documents and the instruments referred to herein) constitute the entire
agreement and supersede all prior agreements and understandings, both written
and oral, among the parties with respect to the subject matter hereof. Except
as expressly provided herein, this Agreement is not intended to confer upon any
person other than the parties hereto any rights or remedies hereunder. The
parties hereby acknowledge that no person shall have the right to acquire or
shall be deemed to have acquired shares of common stock of the other party
pursuant to the Acquisition until consummation thereof.

SECTION 11.09.                
Headings.

 

The headings contained in this Agreement are for reference purposes
only and shall not in any way affect the meaning or interpretation of this
Agreement.

 

SECTION 11.10.                
No Strict Construction.

 

The parties hereto have
participated jointly in the negotiation and drafting of this Agreement. In the
event an ambiguity or question of intent or interpretation arises under any
provision of this Agreement, this Agreement shall be construed as if drafted
jointly by the parties thereto, and no presumption or burden of proof shall
arise favoring or disfavoring any party by virtue of the authorship of any of
the provisions of this Agreement.

 

SECTION 11.11.                
Severability.

 

If any term or other provision of this Agreement is invalid, illegal or
unenforceable, all other provisions of this Agreement shall remain in full
force and effect so long as the economic or legal substance of the transactions
contemplated hereby is not affected in a manner that is materially adverse to
any party.

 

ARTICLE
XII

DEFINITIONS

 

"Agreement" shall have the meaning set forth in the preamble
to this Agreement.

 

"SELLERS" shall have the meaning set forth in the preamble to
this Agreement.

 

"Closing" shall have the meaning set forth in Section 2.01 of
this Agreement.

 

"Closing Date" shall have the meaning set forth in Section
2.01 of this Agreement.

 

"Contracts" shall mean all contracts, leases, subleases,
notes, bonds, mortgages, indentures, Permits and Licenses, non-competition
agreements, joint venture or partnership agreements, powers of attorney,
purchase orders, and all other agreements, arrangements and other instruments,
in each case whether written or oral, to which such Person is a party or by
which any of them or any of its assets are bound.

 

"Effective Time" shall be when all deliveries required under
Article VII have been delivered.

 

"Governmental Approval" shall mean the consent, approval,
order or authorization of, or registration, declaration or filing with any
court, administrative agency or commission or other Governmental Entity,
authority or instrumentality, domestic or foreign.

"Governmental Entity" means the government of the United
States of America, any other nation or any political subdivision thereof,
whether foreign, state or local, and any agency, authority, instrumentality,
regulatory body, court, tribunal, arbitrator, central bank or other entity
exercising executive, legislative, judicial, taxing, regulatory or
administrative powers or functions of or pertaining to government. 

 

"Laws" shall mean all foreign, federal, state and local
statutes, laws, ordinances, regulations, rules, resolutions, orders, writs,
injunctions, judgments and decrees applicable to the specified Person and to
the businesses and assets thereof.

 

"Lien" shall mean any mortgage,
pledge, assessment, security interest, lease, lien, adverse claim, levy, charge
or other encumbrance of any kind. 

 

"Person" shall mean any individual, sole proprietorship,
partnership, joint venture, trust, unincorporated organization, limited
liability company, association, corporation, institution, entity, party,
Governmental Entity or any other juridical entity of any kind or nature
whatsoever.

 

"Transaction Documents" shall mean this Agreement.

 

IN WITNESS WHEREOF, the parties hereto have
caused this Acquisition Agreement to be duly executed as of the day and year
first above written.

 

 

PEPTIDE TECHNOLOGIES
INC., a
Nevada Corporation

 

By: /s/
Bruce Sellars______ 

           Bruce
Sellars CEO 

 

By: /s/ Irene
Getty______ 

Irene Getty CFO

 

SELLER

 

By: /s/
Gregory P. Pilant 

Gregory P. Pilant

 

By: /s/
Deborah L. Pilant 

Deborah L. Pilant

 

EXHIBIT A

 

The Technology Platforms include
but are not limited to:

 

A.   
Proteomic research platforms
which include proprietary blends. 

B.    
Combination design Techniques 

C.   
Patent Pending Proprietary Blends 

D.   
Patent Pending Formulas 

E.    
Trademarks and all pending
Trademarks 

F.    
510K USA FDA, information and
Know-how for application 

G.   
All Clinical trials, (Right to
use) 

H.   
CE mark (International) 

I.      
Peptide Library formula
incorporated in the Wound Healing Technology. 

J.     
Wound Healing Technology QBX 

K.   
Synthetic Compositions of Cations
derived from botanical material in the ash of Red- Oak Bark.

 

 

Products:

 

1.     
Xcellderma over the counter
product. 

2.     
Accelerex, combination product as
a drug device. 

3.     
Accelerex in a tube.

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