SEC Contract Filing

Filing Date: 2019-07-08

Document Content:
<DOCUMENT>
<TYPE>EX-10.6
<SEQUENCE>11
<FILENAME>lxrp_ex106.htm
<DESCRIPTION>EX-10.6
<TEXT>
<html><head><title>lxrp_ex106.htm</title><!--Document Created by EDGARMaster--></head><BODY spellcheck="true" style="text-align:justify;font:10pt TIMES NEW ROMAN;margin:0px 7%"><p style="MARGIN: 0px" align="right"><b>EXHIBIT 10.6</b></p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px" align="center"><b>INTELLECTUAL PROPERTY LICENSE AGREEMENT</b></p><p style="MARGIN: 0px" align="justify">&nbsp;</p><p style="MARGIN: 0px" align="justify">This Intellectual Property License Agreement (this &#8220;<b>Agreement</b>&#8221;) dated as of May 15, 2019 (the &#8220;<b>Effective Date</b>&#8221;) is made by and between Lexaria Hemp Corp., a US corporation with offices at #100 &#8211; 740 McCurdy Road, Kelowna, British Columbia, V1X 2P7, Canada (the &#8220;<b>LICENSOR</b>&#8221;), and Nuka Enterprises, LLC a US corporation with offices at 9690 Dallas St., Henderson, Colorado (together with its successors and assigns the &#8220;<b>LICENSEE</b>&#8221;). LICENSOR and LICENSEE are sometimes referred to individually herein as a &#8220;<b>Party</b>&#8221; and collectively as the &#8220;<b>Parties</b>&#8221;.</p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px" align="center"><b>RECITALS</b></p><p style="MARGIN: 0px" align="justify">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 45px" align="justify">WHEREAS certain capitalized terms not otherwise defined below are defined in Exhibit &#8220;D&#8221; herein;</p><p style="MARGIN: 0px; TEXT-INDENT: 45px" align="justify">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 45px" align="justify">WHEREAS, LICENSEE is, among other things, directly (or indirectly through a Partner, as further contemplated in Section 1.a below) engaged in the business of developing, manufacturing, and selling hemp -derived, cannabidiol (&#8220;<b>CBD</b>&#8221;)-infused consumer and/or therapeutic products for human or animal use pursuant to, where applicable, licenses issued by the relevant authorities and the applicable regulations promulgated thereby;</p><p style="MARGIN: 0px; TEXT-INDENT: 45px" align="justify">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 45px" align="justify">WHEREAS, LICENSOR has been issued a license from its parent company, being the indirect owner of certain intellectual property and technology related to, including but not limited to, the development, testing, and manufacturing process for hemp and/or CBD infused products (the &#8220;<b>Technology</b>&#8221;) and further has been issued the right to sublicense the Technology to parties who wish to utilize the Technology with respect to products that incorporate hemp and/or CBD;<b> </b>which Technology is more specifically described in Exhibit A and detailed batch records and formulation calculation spreadsheets that shall be provided by virtual data room (&#8220;<b>VDR</b>&#8221;) and/or email upon the execution of this License Agreement, by LICENSOR to LICENSEE;</p><p style="MARGIN: 0px; TEXT-INDENT: 45px" align="justify">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 45px" align="justify">WHEREAS, LICENSEE wishes to utilize the Technology (which shall include any Licensor&#8217;s Improvements, as defined in Section 3.c) of LICENSOR, and LICENSOR desires for LICENSEE to utilize the Technology with hemp or other ingredients containing less than 0.30% THC to create, manufacture and/or sell consumable liquid products as of the Effective Date (together or separately, the <b>&#8220;End Products&#8221;</b>), as further described in Exhibit B, subject to the terms and conditions set forth herein. Such End Products shall only be distributed and/or sold by LICENSEE or a Partner, as defined in Section 1.a below, in compliance with all applicable laws and licensing requirements within every jurisdiction in which LICENSEE is permitted by this Agreement or an addendum to this Agreement to sell or distribute the End Products (such locations collectively referred to as &#8220;<b>Permitted</b> <b>Locations</b>&#8221; or &#8220;<b>Territory</b>&#8221;); </p><p style="MARGIN: 0px; TEXT-INDENT: 45px">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 45px" align="justify">WHEREAS, the End Products may not be exported from the Territory to any other global location without express written permission granted in advance from the LICENSOR and subject to entering a separate licensing agreement or an addendum to this Agreement; and</p><p style="MARGIN: 0px; TEXT-INDENT: 45px">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 45px">WHEREAS, the Parties intend and desire for these recitals to be incorporated into the Agreement, and to be bound by any representations or obligations contained therein.</p><p style="MARGIN: 0px" align="justify">&nbsp; <table id="pagebreakc5f4dd99-8891-486c-a969-eb158233a4bc" class="pagebreak" style="FONT: 10pt TIMES NEW ROMAN; MARGIN: 0px" cellspacing="0" cellpadding="0" width="100%" border="0"><tr><td class="hpbhr">&nbsp;</td></tr><tr><td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center">1</td></tr><tr><td><div style="WIDTH: 100%; PAGE-BREAK-AFTER: always; LINE-HEIGHT: 0px"></div>&nbsp;</td></tr><tr><td>&nbsp;</td></tr></table></p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 45px" align="justify">NOW, THEREFORE, in consideration of the promises and the respective covenants and agreements of the parties contained in this Agreement, the Parties hereto agree as follows:</p><p style="MARGIN: 0px" align="center">&nbsp;</p><p style="MARGIN: 0px" align="center"><b>AGREEMENT</b></p><p style="MARGIN: 0px" align="justify">&nbsp;</p><p style="MARGIN: 0px" align="justify"><b><table style="TEXT-ALIGN: justify; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" width="100%" border="0"><tr><td valign="top" width="3%"><p style="MARGIN: 0px"><b>1.</b></p></td><td valign="top" width="3%" colspan="2"><b>License of Technology: </b>Subject to the terms and conditions of this Agreement, LICENSOR here