SEC Contract Filing

Filing Date: 2019-02-21

Document Content:
<DOCUMENT>
<TYPE>EX-10.2
<SEQUENCE>3
<FILENAME>nbgv_ex10z2.htm
<DESCRIPTION>EXHIBIT 10.2
<TEXT>
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<DIV style=margin-left:67pt;width:478pt><P align=center style='font:10pt Times New Roman;margin-top:3.35pt;margin-bottom:0pt;margin-left:172.3pt;margin-right:169.3pt'><FONT style=font-size:10pt><B>LICENSE AGREEMENT</B></FONT></P>
<P style='font:10pt Times New Roman;margin-top:0.05pt;margin-bottom:0pt'>&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0;text-indent:36pt;margin-left:5pt;margin-right:10.1pt'><FONT style=font-size:10pt>This LICENSE AGREEMENT (the &#8220;Agreement&#8221;) is made and entered into on this 14 day of February 2019 (&#8220;Effective Date&#8221;) by and between <B>NewBridge Global Ventures, Inc.</B>, a Delaware Corporation (&#8220;NB&#8221;) and <B>Ecoxtraction, LLC</B>, a Louisiana Limited Liability Company (&#8220;ECO&#8221;).</FONT></P>
<P style='font:10pt Times New Roman;margin-top:0.4pt;margin-bottom:0pt'>&nbsp;</P>
<P align=center style='font:10pt Times New Roman;margin:0;margin-left:169.3pt;margin-right:169.3pt'><FONT style='font-size:10pt;border-bottom:1px solid #000000'>RECITALS</FONT></P>
<P style='font:10pt Times New Roman;margin-top:0.3pt;margin-bottom:0pt'>&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0;text-indent:36pt;margin-left:5pt;margin-right:36.1pt'><FONT style=font-size:10pt>WHEREAS, ECO owns certain intellectual property relating to cannabis extraction technology, and ECO licenses from Hydro Dynamics, Inc. (&#8220;Hydro&#8221;), certain additional intellectual property relating to cannabis extraction technology;</FONT></P>
<P style='font:10pt Times New Roman;margin-top:0.1pt;margin-bottom:0pt'>&nbsp;</P>
<P style='font:10pt Times New Roman;margin-top:0.05pt;margin-bottom:0pt;margin-left:41pt'><FONT style=font-size:10pt>WHEREAS, ECO and NB are entering into an Asset Purchase Agreement (&#8220;APA&#8221;);</FONT></P>
<P style='font:10pt Times New Roman;margin-top:0.05pt;margin-bottom:0pt'>&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0;text-indent:36pt;margin-left:5pt;margin-right:25.05pt'><FONT style=font-size:10pt>WHEREAS pursuant to the APA, ECO wishes to grant NB certain non-exclusive and exclusive licenses to the extraction technology; and</FONT></P>
<P style='font:10pt Times New Roman;margin-top:0.1pt;margin-bottom:0pt'>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0;text-indent:36pt;margin-left:5pt;margin-right:17.75pt'><FONT style=font-size:10pt>NOW THEREFORE, in consideration of the mutual covenants and undertakings of the Parties, and for good and valuable consideration, receipt of which is hereby acknowledged, the Parties agree as follows:</FONT></P>
<P style='font:10pt Times New Roman;margin-top:0.2pt;margin-bottom:0pt'>&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0;margin-left:23pt'><KBD style='position:absolute;font:10pt Times New Roman;margin-left:-18pt'><FONT style=font-size:10pt>1</FONT></KBD><KBD style=margin-left:-0.05pt></KBD><FONT style='font-size:10pt;border-bottom:1px solid #000000'>Definitions</FONT>&nbsp;</P>
<P style='font:10pt Times New Roman;margin-top:0.3pt;margin-bottom:0pt'>&nbsp;</P>
<P style='font:10pt Times New Roman;margin-top:4.95pt;margin-bottom:0pt;margin-left:41pt;margin-right:24.7pt'><FONT style=font-size:10pt><KBD style='position:absolute;font:10pt Times New Roman;margin-left:-18pt'>(a)</KBD>&#8220;HD License&#8221; means the March 26, 2018 license agreement between ECO and Hydro Dynamics, Inc., which is attached as Schedule A.</FONT>&nbsp;</P>
<P style='font:10pt Times New Roman;margin-top:0.1pt;margin-bottom:0pt'>&nbsp;</P>
<P style='font:10pt Times New Roman;margin-top:0.05pt;margin-bottom:0pt;margin-left:41pt;margin-right:9.7pt'><KBD style='position:absolute;font:10pt Times New Roman;margin-left:-18pt'><FONT style=font-size:10pt>(b)</FONT></KBD><KBD style=margin-left:3pt></KBD><FONT style=font-size:10pt>&#8220;HD IP&#8221; means the intellectual property rights of Hydro Dynamics, Inc. granted to ECO under the HD License.</FONT>&nbsp;</P>
<P style='font:10pt Times New Roman;margin-top:0.1pt;margin-bottom:0pt'>&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0;margin-left:41pt;margin-right:17.35pt'><FONT style=font-size:10pt><KBD style='position:absolute;font:10pt Times New Roman;margin-left:-18pt'>(c)</KBD>&#8220;Improved IP&#8221; means the intellectual property for improvements to the Owned Patent, the HD IP, or Know-How, conceived or developed by ECO, whether or not such improvements are patented, and whether or not such improvements are solely or jointly owned.</FONT>&nbsp;</P>
<P style='font:10pt Times New Roman;margin-top:0.15pt;margin-bottom:0pt'>&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0;margin-left:41pt;margin-right:5pt'><FONT style=font-size:10pt><KBD style='position:absolute;font:10pt Times New Roman;margin-left:-18pt'>(d)</KBD>&#8220;Know-how&#8221; means ECO&#8217;s proprietary information and/or trade secrets relating to the technology described in the Owned Patents, including ECO&#8217;s Clean Energy Wave (CEW) technology, existing as of the Effective Date.</FONT>&nbsp;</P>
<P style='font:10pt Times New Roman;margin-top:0.25pt;margin-bottom:0pt'>&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0;margin-left:41pt;margin-right:5.7pt'><FONT style=font-size:10pt><KBD style='position:absolute;font:10pt Times New Roman;margin-left:-18pt'>(e)</KBD>&#8220;NewBridge Field of Use&#8221; means the extraction, marketing, and sale of oil, cannabinoids, terpenes, and other compounds from cannabis sativa, cannabis indica, and cannabis ruderalis, including marijuana and hemp, extracted utilizing the Water Extraction IP.</FONT>&nbsp;</P>
<P style='font:10pt Times New Roman;margin-top:0.05pt;margin-bottom:0pt;margin-left:41pt;margin-right:23.8pt'><FONT style=font-si