SEC Contract Filing

Filing Date: 2021-06-01

Document Content:
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<TYPE>EX-10.2
<SEQUENCE>3
<FILENAME>shmp_ex102.htm
<DESCRIPTION>PATENTS PURCHASE AGREEMENT DATED MAY 19, 2021
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<div style="text-align: right"><font style="font-family: Times New Roman; font-size: 10"><font style="font-weight: bold">&#xA0;Exhibit 10.2</font><br></font></div>
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<!--anchor--></a><font style="color: #000000">PATENTS PURCHASE
AGREEMENT</font></font></div>
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This Patents Purchase Agreement (this &#x201C;</font><font style="font-weight: bold; color: #000000">Agreement</font><font style="color: #000000">&#x201D;), dated as of the 19</font><font style="font-size: 70%; vertical-align: top; color: #000000">th</font>
<font style="color: #000000">day of May 2021 (the
&#x201C;</font><font style="font-weight: bold; color: #000000">Effective
Date</font><font style="color: #000000">&#x201D;),</font>
<font style="color: #000000">is entered into by and between F&amp;T
Water Solutions, LLC, a Florida limited liability company
(&#x201C;</font><font style="font-weight: bold; color: #000000">F&amp;T</font><font style="color: #000000">&#x201D; or &#x201C;</font><font style="font-weight: bold; color: #000000">Seller</font><font style="color: #000000">&#x201D;), and NaturalShrimp Incorporated, a Nevada
corporation, that is traded on the OTC Markets under OTCQB tier
under the symbol &#x201C;SHMP&#x201D; (&#x201C;</font><font style="font-weight: bold; color: #000000">Buyer</font><font style="color: #000000">&#x201D; or &#x201C;</font><font style="font-weight: bold; color: #000000">NSI</font><font style="color: #000000">&#x201D;).</font></font></div>
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RECITALS</font></div>
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<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">(a)</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="color: #000000">NSI
and F&amp;T have jointly developed and patented a water treatment
technology used or useful in growing aquatic species in
re-circulating and enclosed environments (the &#x201C;Patent&#x201D;)
with each party owning a fifty percent (50%)
interest.</font></font></div>
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<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">(b)</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="color: #000000">F&amp;T
desires to sell to Buyer, and Buyer desires to purchase from
F&amp;T, F&amp;T&#x2019;s remaining interest in the Patent and all
other intellectual property rights owned by
F&amp;T;</font></font></div>
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<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">(c)</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="color: #000000">In
addition, a second patent associated with the first Patent was
issued to F&amp;T on March 6, 2018 under US Patent No. 9,908,794
(B2);</font></font></div>
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<font style="color: #000000; font-family: Times New Roman; font-size: 13px">NOW,
THEREFORE, in consideration of the mutual covenants and agreements
hereinafter set forth and for other good and valuable
consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties hereto agree as follows:</font></div>
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<font style="color: #000000">ARTICLE
I</font></font>&#xA0;<br></font></div>
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<font style="font-weight: bold"><font style="font-family: Times New Roman; font-size: 13px">PURCHASE AND
SALE</font></font></div>
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