Document:

Exhibit 10.5

 

	Revised 8/22/2018 - JB 	Al9323

 

EXCLUSIVE OPTION
AGREEMENT

Agreement No. A19323

 

TABLE OF CONTENTS

 

	Section 1	 	Grant
	Section 2	 	Option Period 
	Section 3 	 	Diligent Efforts
	Section 4 	 	Sharing of Information
	Section 5	 	Option Fee
	Section 6 	 	Patent Costs  
	Section 7	 	Payments
	Section 8 	 	No Warranties
	Section 9 	 	No Assignment
	Section 10	 	Indemnification; Insurance
	Section 11 	 	Termination
	Section 12 	 	Use of Names
	Section 13 	 	United States Government Interests
	Section 14 	 	Miscellaneous
	Section 15 	 	Notices and Other Communication
	Section 16 	 	Force Majeure
	Section 17 	 	Integration
	Section 18 	 	Contract Formation and Authority
	Exhibit A	 	Evaluation Plan
	Exhibit B	 	Mutual Confidential Disclosure Agreement

 

This Agreement is effective
as of the date of the last signature below, (the “Effective Date”), between the University of Florida Research Foundation,
Incorporated (hereinafter called “UFRF”), a nonstock, nonprofit Florida corporation, and Signet International Holding
Inc., (hereinafter called “COMPANY”), a small entity Florida Corporation having its principal office at 205 Worth Avenue,
Suite #316, Palm Beach, FL 33480.

 

WHEREAS, UFRF
and The Research Foundation for the State University of New York (“RFSUNY”) are the joint owners (collectively,
“Institutional Parties”) of certain Patent Rights conferred under U.S. Patent Application Serial No. 14/347,951,
(UF #Tl3812 & Univ. Buffalo #R-6645 ) entitled Multifunctional Oral Prosthetic System, invented by Yong-Kyu Yoon, Gloria
J. Kim, Xiaoyu Cheng at the University of Florida and Marc Campillo-Funollet, Carlos A. Munoz at the University at Buffalo
(hereinafter “Patent Rights”), with related rights and responsibilities set forth under a joint interinstitutional
agreement A10607 effective 9/15/11 with UFRF as the lead institution, which interinstitutional agreement was modified
pursuant to an amendment and restatement effective 9/27/12, the said interinstitutional agreement as previously so modified
being hereinafter referred to as the “IIA”;

 

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	Revised 8/22/2018 - JB 	Al9323

 

WHEREAS, The Institutional Parties desire
to transfer this technology to benefit the public;

 

WHEREAS,
The Institutional Parties and COMPANY recognize that further work is required to develop to practical application the invention
that is described and claimed in the Patent Rights; and

 

WHEREAS, COMPANY desires
a period of time in which to evaluate the Patent Rights, potential products, and markets therefor, and to elect to negotiate a
license for such Patent Rights.

 

THEREFORE, in consideration
of the premises and mutual covenants contained herein, the parties hereto agree as follows:

 

	Section	1	Grant

 

The Institutional Parties
under their joint IIA with UFRF as lead hereby grants to COMPANY an exclusive option to negotiate a royalty-bearing, limited-term,
exclusive license to the Patent Rights in the following field(s) of use: multifunctional oral prosthetic device for the territory
of worldwide (hereinafter the “Option Rights”). During the Option Period (defined below), COMPANY shall have the right
to use the Patent Rights only to evaluate Option Rights according to the Evaluation Plan in Exhibit A (the “Evaluation Plan”).

 

	Section	2	Option Period

 

The Option Period shall commence
on the Effective Date and expire on September 30th 2020, unless sooner terminated by the execution of a license agreement
between the parties and RFSUNY for the Option Rights. If COMPANY shall exercise its option
hereunder by written notice to UFRF within the Option Period, the parties shall negotiate the license terms in good faith. However,
all Option Rights expire on the later of ninety (90) days following UFRF’s receipt of such written notice by COMPANY exercising
its Option Rights, or the last day of the Option Period.

 

	Section	3	Diligent Efforts

 

During the Option Period,
COMPANY shall use diligent efforts to evaluate the inventions described and claimed in the Patent Rights. Such efforts shall include,
but shall not be limited to, the sponsoring or performing work defined in the Evaluation Plan (Exhibit A) and the sharing of information
regarding the results of the Evaluation Plan with UFRF. COMPANY shall submit to UFRF the Evaluation Report with relevant documentation
no later than ten (10) business days prior to the expiration of the Option Period.

 

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	Revised 8/22/2018 - JB 	Al9323

 

	Section	4	Sharing of Information

 

During
the Option Period, COMPANY, UFRF and University of Florida shall share information obtained during or necessary for the
conduct of the Evaluation Plan. Such information shall be exchanged under the terms of a Mutual Confidential Disclosure
Agreement (Exhibit B). If a new invention whether patentable or not results from the sharing of information, COMPANY shall
promptly provide notice of such invention to UFRF within thirty (30) days of such invention so that COMPANY and UFRF can come
to an agreement on the filing of any patent applications using an attorney of UFRF’s choice. If the COMPANY does not
exercise its option under this Agreement or a license agreement is not executed between the parties, COMPANY will be
obligated to deliver to UFRF no later than ninety (90) days after termination of the Option Period any data that are
generated by COMPANY under this Agreement. UFRF and RFSUNY shall own such data. In addition, if a license agreement is not
executed between the parties within the timeline stated in Section 2 above, COMPANY shall assign to UFRF and RFSUNY any
rights to inventions made during this Option Period, and COMPANY shall keep all information disclosed by UFRF or generated by
either party under this Agreement confidential per the provisions of the executed Confidentiality Disclosure Agreement.
COMPANY shall not use such data or information for any purpose. COMPANY warrants that all its employees and agents are
obligated to assign to COMPANY all their rights in data, information, and inventions made during the Option Period.

 

	Section	5	Option Fee

 

In consideration of the
Option Rights herein granted to COMPANY by UFRF and as an indication of serious intent, COMPANY shall pay to UFRF the sum of one
thousand two hundred dollars ($1,200) within thirty (30) days of the Execution Date, such sum to be nonrefundable.

 

	Section	6	Patent Costs

 

UFRF
will solicit input from COMPANY regarding (a) actions to be taken in connection with patent protection for the Patent Rights,
and (b) fees, annuities, costs and expenses to be incurred in connection therewith. UFRF will submit, or will cause to be
submitted to COMPANY all correspondence or other materials related to the preparation, filing, prosecution (including
interferences and oppositions), issuance, maintenance and reporting of the Patent Rights for COMPANY’s review and comment
prior to any filing or other submission thereof, and UFRF will give due consideration to comments provided by COMPANY or
COMPANY’s counsel. If COMPANY fails to provide comments regarding actions to be taken, submissions or payment of fees,
annuities, or other costs or expenses within fourteen (14) days of the date of UFRF’s submission thereof to COMPANY, then
UFRF will assume COMPANY has no comments. During the Option Period, COMPANY shall reimburse UFRF for United States and/or
foreign costs associated with the Patent Rights. if COMPANY shall not exercise its Option Rights, COMPANY shall in any event
be liable to UFRF for UFRF’s out-of-pocket United States and foreign filing, prosecution, and maintenance costs, including
attorneys’ fees, in countries selected by COMPANY and incurred during the Option Period or any ensuing period of good faith
negotiations as set forth in Section 2 above. Such costs shall be reimbursed by COMPANY within thirty (30) days of invoicing
by UFRF. COMPANY shall pay all amounts owing to UFRF under this Agreement in United States dollars at the following
address:

 

University of Florida Research Foundation, Inc.

288 Grinter Hall, PO Box 115500

Gainesville, Florida 32611-5500

Attention: Business Manager

 

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	Revised 8/22/2018 - JB 	Al9323

 

For Wire Transfer Information: http://research.ufl.edu/ufrf/wiring.html. The wire transfer link is also included at the bottom of all invoices for your accounting purposes.

 

	Section	7	Payments

 

Any amounts which remain
unpaid after the date they are due to UFRF under any section of this Agreement shall accrue interest from the due date at the rate
of one and one-half percent (1.5%) per month. However, in no event shall this interest provision be construed as a grant of permission
for any payment delays. COMPANY is responsible for all wire/bank fees associated with all payments due to UFRF pursuant to this
Agreement. COMPANY shall also be responsible for repayment to UFRF of any attorney, collection agency, or other out-of-pocket UFRF
expenses required to collect overdue payments due from any applicable section of this Agreement

 

	Section	8	No Warranties

 

EXCEPT
AS OTHERWISE EXPRESSLY SET FORTH IN THIS AGREEMENT, UFRF AND RFSUNY MAKE NO REPRESENTATIONS AND EXTEND NO WARRANTIES OF ANY
KIND, EITHER EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED TO WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR
PURPOSE, AND VALIDITY OF PATENT RIGHTS CLAIMS, ISSUED OR PENDING.

 

	Section	9	No Assignment

 

The Option Agreement and
the Option Rights shall not be assignable, whether by operation of law or otherwise, and any attempt to do so shall be void.

 

	Section	10	Indemnification; Insurance

 

		10.1	COMPANY shall, at all times during the term of this
Agreement and thereafter, indemnify, defend and hold UFRF, the University of Florida, The Research

 

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	Revised 8/22/2018 - JB 	Al9323

 

		10.2	COMPANY warrants that it will maintain liability insurance coverage appropriate to the risk involved
in evaluating the Patent Rights.

 

	Section	11	Termination

 

		11.1	UFRF may terminate this Agreement by giving COMPANY at least thirty (30) days written notice
if COMPANY:

 

		11.1.1	is delinquent on any report or payment obligation under this Agreement;

 

		11.1.2	is not diligently developing the Patent Rights or meeting the milestones as outlined in the Evaluation
Plan;

 

		11.1.3	is in breach of any provision of this Agreement;

 

		11.1.4	provides any false report to UFRF;

 

		11.1.5	goes into bankruptcy, liquidation, or proposes having a receiver assume control any of its assets;

 

		11.1.6	violates any laws or regulations of applicable government entities; or

 

		11.1.7	ceases to carry on its business pertaining to the Patent Rights

 

		11.2	Termination under this Section 11 will take effect 30 days after written notice by UFRF unless
COMPANY remedies the problem in that 30-day period. COMPANY may terminate this Agreement at any time by providing UFRF at least
45 days written notice. Upon the termination of this Agreement for any reason, nothing herein shall be construed to release either
party from any obligation that matured prior to the effective date of such termination.

 

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	Revised 8/22/2018 - JB 	Al9323

 

	Section	12	Use of Names

 

COMPANY may not use the
names or logos of UFRF or the University of Florida, or RFSUNY or University at Buffalo, nor of any of either institution’s employees,
agents, or affiliates, nor the name of any inventor of Patent Rights, nor any adaptation of those names, in any promotional, advertising
or marketing materials or any other form of publicity, or to suggest any endorsement by these entities or individuals, without
the prior written approval of UFRF, or RFSUNY as applicable, in each case.

 

	Section	13	United States Government Interests

 

The United States Government
has not funded technology development during the course of or under which any of the inventions of the Patent Rights were conceived
or reduced to practice.

 

	Section	14	Miscellaneous

 

		14.1	Governing Law. This Agreement shall be governed and construed in accordance with the
internal laws of the State of Florida without regard to its conflict of laws provisions, and venue for all claims or other causes
of action arising out of this Agreement shall be in Gainesville, Florida. If any provisions of this Agreement are held invalid
or unenforceable by a court of competent jurisdiction, those provisions shall be deemed automatically deleted; the remaining terms
and conditions of this Agreement shall remain in full force and effect; and the parties shall negotiate in good faith to modify
the Agreement to preserve (to the extent possible) their original intent. This Agreement may be amended, supplemented, or otherwise
modified only by means of a written instrument signed by both parties.

 

		14.2	Independent Contractors. The parties are independent contractors and not joint venturers
or partners.

 

		14.3	No Security Interest. COMPANY may not encumber or otherwise grant a security interest
in any of the rights granted under this Agreement to any third party.

 

		14.4	Laws and Regulations. COMPANY shall comply with all local, state, federal, and international
laws and regulations that are applicable to evaluating the Patent Rights or any other use of Patent Rights.

 

		14.5	COMPANY acknowledges that it is subject to and agrees to abide by the United States laws and
regulations (including the Export Administration Act of 1979 and Arms Export Control Act) controlling the export of technical data,
computer software, laboratory prototypes, biological material, and other commodities. The transfer of such items may require a
license from the cognizant agency oft , U.S.

 

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	Revised 8/22/2018 - JB 	Al9323

 

	Section	15	Notices and Other Communications

 

The parties shall provide
any notice required to be given pursuant to this Agreement in writing to the addresses listed in this Section 15. Notice is effective
on the day it is delivered personally with written receipt from an authorized signatory, on the second day after the day on which
the notice has been delivered for next day delivery prepaid to a nationally recognized courier service, on the fifth business day
following deposit in the United States mail if sent certified or registered mail, (return receipt acknowledgement is not required
to certify delivery).

 

	If to UFRF:	If to COMPANY:
	 	 
	President	Ernesto Letiziano
	
        University of Florida Research 

Foundation, Incorporated

        223 Grinter Hall University of Florida
	
        CEO

        Signet International Holding Inc. 

205 Worth Avenue,
        Suite #316

	P. 0. Box 115500	Palm Beach, FL 33480
	Gainesville, FL 32611-5500	Phone: (561) 832-2000
	 	Email: cletiziano@aol.com
	with a copy to:	SKYPE: NESTO. SIGNET
	 	 
	UF Innovate | Tech Licensing

        University of Florida
	 
	Attn: Director (Rm. 112)	 
	747 SW 2nd Avenue	 
	Post Office Box 115575	 
	Gainesville, Florida 32611-5575	 

 

	Section	16	Force Maieure

 

No party is responsible for
default, delay, or failure to perform, if such default, delay or failure to perform is due to causes beyond the party’s reasonable
control, including, but not limited to, strikes, lockouts, inactions of governmental authorities , war, fire, hurricane or other
natural disaster, provided that the nonperforming party uses commercially reasonable efforts to avoid or remove those causes of
nonperformance and continues performance under this Agreement with reasonable dispatch when the causes are removed. In the event
of a default, delay or failure to perform described in this Section 16, any date or times by which either party is scheduled to
perform is extended automatically for a time equal to the time lost by reason of the excused default, delay or failure to perform.

 

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	Revised 8/22/2018 - JB 	Al9323

 

	Section	17	Integration

 

This Agreement constitutes the full
understanding between the parties with reference to its subject matter, and no statements or agreements by the parties,
whether oral or in writing, may modify the terms of this Agreement. Neither party may claim any amendment, modification, or
release from any provisions of this Agreement, unless the mutual agreement is in writing and signed by both parties.

 

	Section	18	Contract Formation and Authority

 

18.1 The
submission of this Agreement is not an offer, and this document is effective and binding only upon the execution by duly authorized
representatives of both COMPANY and UFRF. Copies of this Agreement that have not been executed and delivered by both UFRF and COMPANY
do not evidence an agreement between the parties. UFRF may terminate this Agreement without the requirement of any notice to COMPANY
if UFRF does not receive the Option Fee within thirty (30) days of the Effective Date.

 

18.2 UFRF
and COMPANY hereby warrant and represent that the persons signing this Agreement have authority to execute this Agreement on behalf
of the party for whom they have signed.

 

IN
WITNESS WHEREOF, the parties hereto have duly executed this Agreement on the dates indicated below.

 

	UNIVERSITY OF FLORIDA RESEARCH
    FOUNDATION, INC.
	 
	/s/ Jim O’ Connell	 	Date:  	9/13/19
	Jim O’ Connell	 	 
	Assistant Vice
    President for Commercialization	 	 
	Director, UF Innovate
    | Tech Licensing	 	 
	 	 	 
	SIGNET INTERNATIONAL HOLDING
    INC.
	 
	/s/ Ernesto Letiziano	 	Date: 	9/10/19
	Ernesto Letiziano	 	 
	CEO	 	 

 

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	Revised 8/22/2018 - JB 	Al9323

 

EXHIBIT
A

 

EVALUATION PLAN

 

Expected
to be completed by the company and sent to UFRF within ninety (90) days following the Effective Date.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    	 	Page 9 of 9Exhibit 10.6

 

A19345

 

EXCLUSIVE OPTION
AGREEMENT WITH KNOW-HOW

Agreement No. A19345

 

TABLE OF CONTENTS

 

	 	Section 1	Grant
	 	Section 2	Option Period
	 	Section 3	Diligent Efforts
	 	Section 4	Sharing of Information
	 	Section 5	Option Fee
	 	Section 6	Patent Costs
	 	Section 7	Payments
	 	Section 8	No Warranties
	 	Section 9	No Assignment
	 	Section 10 	Indemnification; Insurance
	 	Section 11	Termination
	 	Section 12	Use of Names
	 	Section 13	United States Government Interests
	 	Section 14	Miscellaneous
	 	Section 15	Notices and Other Communication
	 	Section 16	Force Majeure
	 	Section 17	Integration
	 	Section 18	Contract Formation and Authority
	 	Exhibit A	Evaluation Plan
	 	Exhibit B	Mutual Confidential Disclosure Agreement

 

This Agreement is
effective as of the date of the last signature below, (the “Effective Date”), between the University of Florida
Research Foundation, Incorporated (hereinafter called “UFRF”), a nonstock, nonprofit Florida corporation, and
Signet International Holding Inc., (hereinafter called “COMPANY”), a small entity Florida Corporation
having its principal office at 205 Worth Avenue, Suite #316, Palm Beach, FL 33480.

 

WHEREAS, UFRF is the
owner of certain Patent Rights relating to U.S. Patent No. 9,757,487, entitled Self-Sterilizing
Device Using Plasma Fields, invented by Subrata Roy and Karl Zawoy and
filed on May 19, 2010 and issued on September 12, 2017 (for reference T12627); and a Divisional U.S. Published Application
15/698,795, entitled Self-Sterilizing Device Using Plasma Fields, also invented by Subrata Roy and Karl Zawoy,
filed on September 8, 2017, (for reference T16770) (hereinafter “Patent
Rights”);

 

WHEREAS, UFRF is the
owner of certain rights in Know-How relating to the Patent Rights, (hereinafter  “Know-How”);

 

 

    Page 1 of 8

     

    

 

A19345

 

WHEREAS, UFRF desires to transfer this technology
to benefit the public;

 

WHEREAS, UFRF and COMPANY
recognize that further work is required to develop to practical application the invention that is described and claimed in the
Patent Rights and Know How; and

 

WHEREAS, COMPANY desires a period of time in which to evaluate the Patent Rights, potential products, and markets therefor, and to
elect to negotiate a license for such Patent Rights and Know-How.

 

THEREFORE, in consideration
of the premises and mutual covenants contained herein, the parties hereto agree as follows:

 

		Section 1	Grant

 

UFRF hereby grants to COMPANY an exclusive
option to negotiate a royalty-bearing, limited-term, exclusive license to the Patent Rights and non-exclusive to Know-How in
the following field(s) of use: Sterilization and Decontamination for Medical Systems for
the territory of Worldwide (hereinafter the “Option Rights”). During
the Option Period (defined below), COMPANY shall have the right to use the Patent Rights only to evaluate Option Rights
according to the Evaluation Plan in Exhibit A (the ’“Evaluation Plan” ). Know-How is defined as unpatented
technical information, research and development information, test results and data necessary for the effective exercise of
the Patent Rights which have been developed by Dr. Roy as of the Effective Date and which are owned by University.

 

		Section 2	Option Period

 

The Option Period shall
commence on the Effective Date and expire on September 30, 2020, unless sooner terminated by the execution of a license agreement
between the parties for the Option Rights. If COMPANY shall exercise its option hereunder by written notice to UFRF within the
Option Period, the parties shall negotiate the license terms in good faith. However, all Option Rights expire on the later of
ninety (90) days following UFRF’s receipt of such written notice by COMPANY exercising its Option Rights, or the last day of the
Option Period.

 

		Section 3	Diligent Efforts

 

During the Option Period, COMPANY shall
use diligent efforts to evaluate the inventions described and claimed in the Patent Rights and Know-How. Such efforts shall
include, but shall not be limited to, the sponsoring or performing work defined in the Evaluation Plan (Exhibit A) and the
sharing of information regarding the results of the Evaluation Plan with UF RF. COMPANY shall submit to UFRF the Evaluation
Report with relevant documentation no later than ten (10) business days prior to the expiration of the Option Period.

 

 

    Page 2 of 8

     

    

 

A19345

 

		Section 4	Sharing of Information

 

During the Option Period,
COMPANY, UFRF and University of Florida shall share information obtained during or necessary for the conduct of the Evaluation
Plan. Such information shall be exchanged under the terms of a Mutual Confidential Disclosure Agreement (Exhibit B). If
a new invention whether patentable or not results from the sharing of information, COMPANY shall promptly provide notice
of such invention to UFRF within thirty (30) days of such invention so that COMPANY and UFRF can come to an agreement on the filing
of any patent applications using an attorney of UFRF’s choice. If the COMPANY does not exercise its option under this Agreement
or a license agreement is not executed between the parties, COMPANY will be obligated to deliver to UFRF no later than ninety (90)
days after termination of the Option Period any data that are generated by COMPANY under this Agreement. UFRF shall own such data.
In addition, if a license agreement is not executed between the parties within the timeline stated in Section 2 above, COMPANY
shall assign to UFRF any rights to inventions made during this Option Period, and COMPANY shall keep all information disclosed
by UFRF or generated by either party under this Agreement confidential per the provisions of the executed Confidentiality Disclosure
Agreement. COMPANY shall not use such data or information for any purpose. COMPANY warrants that all its employees and agents are
obligated to assign to COMPANY all their rights in data, information, and inventions made during the Option Period.

 

		Section 5	Option Fee

 

In consideration of the
Option Rights herein granted to COMPANY by UFRF and as an indication of serious intent, COMPANY shall pay to UFRF the sum of one
thousand two hundred dollars ($ 1,200) within thirty (30) days of the Execution Date, such
sum to be nonrefundable.

 

		Section 6	Patent Costs

 

UFRF will solicit input
from COMPANY regarding (a) actions to be taken in connection with patent protection for the Patent Rights, and (b) fees, annuities,
costs and expenses to be incurred in connection therewith. UFRF will submit, or will cause to be submitted to COMPANY all correspondence
or other materials related to the preparation, filing, prosecution (including interferences and oppositions), issuance, maintenance
and reporting of the Patent Rights for COMPANY’s review and comment prior to any filing or other submission thereof, and UFRF will
give due consideration to comments provided by COMPANY or COMPANY’s counsel. If COMPANY fails to provide comments regarding actions
to be taken. submissions or payment of fees, annuities, or other costs or expenses within fourteen (14) days of the date of UFRF’s
submission thereof to COMPANY, then UFRF will assume COMPANY has no comments. During the Option Period, COMPANY shall reimburse
UFRF for United States and/or foreign costs associated with the Patent Rights. If COMPANY shall not exercise its Option Rights,
COMPANY shall in any event be liable to UFRF for UFRF’s out-of-pocket United States and foreign filing,
prosecution, and maintenance costs, including attorneys’ fees, in countries selected by COMPANY and incurred during the
Option Period or any ensuing period of good faith negotiations as set forth in Section 2 above. Such costs shall be reimbursed
by COMPANY within thirty (30) days of invoicing by UFRF. COMPANY shall pay all amounts owing to UFRF under this Agreement in United
States dollars at the following address:

 

 

    Page 3 of 8

     

    

 

A19345

 

University of Florida
Research Foundation, Inc.

288 Grinter Hall, PO
Box 115500

Gainesville, Florida
32611-5500

Attention: Business Manager

 

For Wire Transfer Information:
http://research.ufl.edu/ufrf/wiring.html. The wire transfer link is also included at the bottom of all invoices for your accounting
purposes.

 

		Section 7	Payments

 

Any amounts which remain
unpaid after the date they are due to UFRF under any section of this Agreement shall accrue interest from the due date at the rate
of one and one-half percent (1.5%) per month. However, in no event shall this interest provision be construed as a grant of permission
for any payment delays. COMPANY is responsible for all wire/bank fees associated with all payments due to UFRF pursuant to this
Agreement. COMPANY shall also be responsible for repayment to UFRF of any attorney, collection agency, or other out-of-pocket
UFRF expenses required to collect overdue payments due from any applicable section of this Agreement

 

		Section 8	No Warranties

 

EXCEPT AS OTHERWISE
EXPRESSLY SET FORTH IN THIS AGREEMENT, UFRF MAKES NO REPRESENTATIONS AND EXTENDS NO WARRANTIES OF ANY KIND, EITHER EXPRESS OR
IMPLIED, INCLUDING BUT NOT LIMITED TO WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, AND VALIDITY OF
PATENT RIGHTS CLAIMS, ISSUED OR PENDING AND KNOW-HOW.

 

		Section 9	No Assignment

 

The Option Agreement and
the Option Rights shall not be assignable, whether by operation of law or otherwise, and any attempt to do so shall be void.

 

 

    Page 4 of 8

     

    

 

A19345

 

		Section 10	Indemnification; Insurance

 

		10.1	COMPANY shall, at all times during the term of this Agreement and thereafter, indemnify, defend
and hold UFRF, the University of Florida Board of Trustees, the University of Florida, and each of their directors, officers,
employees, and agents, and the inventors of the Patent Rights
and Know-How, regardless of whether the inventors are employed by the University of Florida at the time of the claim,
harmless against all claims and liabilities, including legal expenses and reasonable attorneys’ fees, whether arising
from a third party claim or resulting from UFRF’s enforcing this indemnification clause against COMPANY, arising out
of the death of or injury to any person or persons or out of any damage to property and against any other claim, proceeding,
demand, expense and liability of any kind whatsoever resulting from COMPANY’s evaluating the Patent Rights and
Know-How or any other use of Patent Rights and Know-How by COMPANY. Notwithstanding the above, UFRF at all times reserves
the right to retain counsel of its own to defend the interests of UFRF, the Florida Board of Governors, the University of
Florida Board of Trustees, the University of Florida and the inventors of the Patent Rights and Know-How.

 

		10.2	COMPANY warrants that it will maintain liability insurance coverage appropriate to the risk
involved in evaluating the Patent Rights.

 

		Section 11	Termination

 

		11.1	UFRF may terminate this Agreement by giving COMPANY at least thirty (30) days written notice
if COMPANY:

 

		11.1.1	is delinquent on any report or payment obligation under this Agreement ;

 

		11.1.2	is not diligently developing the Patent Rights and Know-How
or meeting the milestones as outlined in the Evaluation Plan;

 

		11.1.3	is in breach of any provision of this Agreement;

 

		11.1.4	provides any false report to UFRF;

 

		11.1.5	goes into bankruptcy, liquidation, or proposes having a receiver assume control any of its assets;

 

		11.1.6	violates any laws or regulations of applicable government entities; or

 

		11.1.7	ceases to carry on its business pertaining to the Patent Rights and Know-How

 

		11.2	Termination under this Section 11 will take effect 30 days after written notice by UFRF unless
COMPANY remedies the problem in that 30-day period. COMPANY may terminate this Agreement at any time by providing UFRF at least
45 days written notice. Upon the termination of this Agreement for any reason, nothing herein shall be construed to release either
party from any obligation that matured prior to the effective date of such termination.

 

 

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A19345

 

		Section 12	Use of Names

 

COMPANY may not use the
names or logos of UFRF or the University of Florida, nor of any of either institution’s employees, agents, or affiliates, nor the
name of any inventor of Patent Rights and Know-How, nor any adaptation of those names, in any promotional, advertising or marketing
materials or any other form of publicity, or to suggest any endorsement by these entities or individuals. without the prior written
approval of UFRF in each case.

 

		Section 13	United States Government Interests

 

The United States
Government has funded Grant No.             N/A             during
the course of or under which any of the inventions of the Patent Rights were conceived or reduced to practice. The United
States Government is entitled under the provisions of 35 U.S.C. §202-212 and applicable regulations to a non-exclusive,
nontransferable, irrevocable, paid-up license to practice or have practiced those inventions for or on behalf of the United
States throughout the world. Any license granted to COMPANY in this Agreement is subject to that license.

 

		Section 14	Miscellaneous

 

		14.1	Governing Law. This Agreement shall be governed and construed in accordance with the internal
laws of the State of Florida without regard to its conflict of laws provisions, and venue for all claims or other causes of action
arising out of this Agreement shall be in Gainesville, Florida. If any provisions of this Agreement are held invalid or unenforceable
by a court of competent jurisdiction, those provisions shall be deemed automatically deleted; the remaining terms and conditions
of this Agreement shall remain in full force and effect; and the parties shall negotiate in good faith to modify the Agreement
to preserve (to the extent possible) their original intent. This Agreement may be amended. supplemented, or otherwise modified
only by means of a written instrument signed by both parties.

 

		14.2	independent Contractors. The parties are independent contractors and not joint venturers
or partners.

 

		14.3	No Security Interest. COMPANY may not encumber or otherwise grant a security interest
in any of the rights granted under this Agreement to any third party.

 

		14.4	Laws and Regulations. COMPANY shall comply with all local, state, federal, and international
laws and regulations that are applicable to evaluating the Patent Rights or any other use of Patent Rights.

 

		14.5	COMPANY acknowledges that it is subject to and agrees to abide by the United States laws and
regulations (including the Export Administration Act of 1979 and Arms Export Control Act) controlling the export of technical data.
computer software, laboratory prototypes,
biological material, and other commodities. The transfer of such items may require a license from the cognizant agency of the
U.S. Government or written assurances by COMPANY that it shall not export such items to certain foreign countries and/or foreign
persons without prior approval of such agency. UFRF neither represents that a license is or is not required or that, if required,
it shall be issued.

 

 

    Page 6 of 8

     

    

 

A19345

 

		Section 15	Notices and Other Communications

 

The parties shall provide
any notice required to be given pursuant to this Agreement in writing to the addresses listed in this Section 15. Notice is effective
on the day it is delivered personally with written receipt from an authorized signatory, on the second day after the day on which
the notice has been delivered for next day delivery prepaid to a nationally recognized courier service, on the fifth business day
following deposit in the United States mail if sent certified or registered mail, (return receipt acknowledgement is not required
to certify delivery).

 

	If to UFRF:	If to COMPANY:
	 	 
	President	Ernesto Letiziano
	University of Florida Research	CEO
	Foundation, Incorporated	Signet International Holding Inc.
	223 Grinter Hall University of Florida	205 Worth Avenue, Suite #316
	P. O. Box 115500	Palm Beach, FL 33480
	Gainesville, FL 32611-5500	Phone: (561) 832-2000
	 	Email: eletiziano@aol.com
	with a copy to:	SKYPE: NESTO. SIGNET
	 	 
	UF Innovate | Tech Licensing	 
	University of Florida	 
	Attn: Director (Rm. 112)	 
	747 SW 2nd Avenue	 
	Post Office Box 115575	 
	Gainesville, Florida 32611-5575	 

 

		Section 16	Force Majeure

 

Neither party is responsible for default,
delay, or failure to perform, if such default, delay or failure to perform is due to causes beyond the party’s
reasonable control, including, but not limited to, strikes, lockouts, inactions of governmental authorities, war, fire,
hurricane or other natural disaster, provided that the nonperforming party uses commercially reasonable efforts to avoid or
remove those causes of nonperformance and continues performance under this Agreement with reasonable dispatch when the causes
are removed. In the event of a default, delay or failure to perform described in this Section 16, any date or times by which either party is scheduled to perform is extended automatically for a time equal to the time lost by reason of the
excused default, delay or failure to perform.

 

 

    Page 7 of 8

     

    

 

A19345

 

		Section 17	Integration

 

This Agreement
constitutes the full understanding between the parties with reference to its subject matter, and no statements or agreements
by the parties, whether oral or in writing, may modify the terms of this Agreement. Neither party may claim any amendment,
modification, or release from any provisions of this Agreement, unless the mutual agreement is in writing and signed by both
parties.

 

		Section 18	Contract
                                         Formation and Authority

 

18.1 The
submission of this Agreement is not an offer, and this document is effective and binding only upon the execution by duly authorized
representatives of both COMPANY and UFRF. Copies of this Agreement that have not been executed and delivered by both UFRF and COMPANY
do not evidence an agreement between the parties. UFRF may terminate this Agreement without the requirement of any notice to COMPANY
if UFRF does not receive the Option Fee within thirty (30) days of the Effective Date.

 

18.2 UFRF
and COMPANY hereby warrant and represent that the persons signing this Agreement have authority to execute this Agreement on behalf
of the party for whom they have signed.

 

IN WITNESS WHEREOF, the
parties hereto have duly executed this Agreement on the dates indicated below.

 

	UNIVERSITY OF FLORIDA RESEARCH FOUNDATION, INC.	 
	 	 	 
	/s/ Jim O’Connell	 	Date: 9/16/19
	 Jim O’Connell	 	 
	Assistant Vice President for Commercialization Director, UF Innovate | Tech Licensing	 	 

 

	SIGNET INTERNATIONAL HOLDING INC.	 
	 	 	 
	/s/ Ernesto Letiziano	 	Date: 9-11-19
	 Ernesto Letiziano	 	 
	CEO	 	 

 

 

 

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