Exhibit 10.2
LICENSE AGREEMENT
This LICENSE AGREEMENT (this “Agreement”) is made as of 30th day of January 2017 between FRESHTEC, INC, a Delaware Corporation (“FreshTec") and Robert McGuire, an individual (McGuire).
WHEREAS FreshTec holds certain Patents, as described herein, related to modified atmosphere packaging, as described herein;
WHEREAS McGuire wishes to enter into an agreement with FreshTec whereby FreshTec will grant to McGuire exclusive rights to utilize these patents, and all other technologies, techniques and/or products developed by FreshTec in the future, specifically relating to cannabis packaging and/or any product containing cannabis relative to the Market Territory, as described herein, on the terms and conditions contained herein;
WHEREAS McGuire intends to form a corporate entity to engage in the business of cannabis packaging;
NOW THEREFORE in consideration of the mutual covenants contained in this Agreement, the parties agree as follows:
1. DEFINITIONS
1.01Definitions.AsusedinthisAgreement,thefollowingwordsandphrasesshallhavethefollowingmeanings:
(a)“Agreement”hasthemeaningsetforthintherecitals.
(b)“McGuire”has themeaningsetforthintherecitals.
(c)“FreshTec”has themeaningsetforthintherecitals.
(d) “Manufacturing Territory” shall mean the United States only, not including overseas dependencies. Other manufacturing locations shall be decided on a case-by-case basis by the Parties.
(e) “Market Territory” shall mean the entire world.
(f)“Term”hasthemeaningsetforthinSection3.
(g)“InfringementClaim”hasthemeaningsetforthinSection8.
(h)“Patent(s)”meansallpatentsandpatentapplications,U.S.andforeignpatentstobe
issuedpursuantthereto,andalldivisions,continuations,reissues,substitutes,andextensions thereofownedorlicensedtoFreshTecinconnectionwithmodifiedatmospherepackaging or active packaging materialsorsystems, related to or unrelated to cannabis and any cannabis containing items. It is specifically noted relative to this Agreement and Section 1.01(f), that Patent(s) does not refer to any other market not outlined in that section. At the present time FreshTec, Inc. has a license for the following patents as they relate to cannabis:
United States Patents
MAP Patent USPTO #6,880,748
MAP Patent USPTO #7,597,240
MAP Patent USPTO #9,527,648
Divisional Application Pending #13/986,851
European Union Patents
MAP Patent Euro. Pat. Off. #1615827
Divisional App. Euro. Pat. Off. #09-014 278.7 (Patent No. 2157025)
MAP Patent Euro. Pat. Off. # 2563674 (Treatment of Modified Atmosphere Packaging)
Japan
Japan #4446031
Japan Patent Pending #2015/506239
Mexico
Mexico Patent # 257572
Mexico Patent App. # 2012-012193 (allowed: Treatment of Modified Atmosphere Packaging)
Mexico Patent Pending # 2016/002845
South Africa
South Africa Patent #2005/07478
South Africa Patent App. No. 2012-08642 (allowed: Treatment of Modified Atmosphere Packaging)
Chile
Chile Patent #2128-2005
Chile Patent # 2943-2012
Canada
Canada Patent #2519533
Canada Pending #2801245
(i) “Term”meansthetermofthisAgreementasprovidedinSection3includinganyrenewalprovidedthereunder;
2. GRANT
2.1 FreshTec hereby appoints McGuire the exclusive licensee of the Patents for use relative to the development and manufacture of any and all products to be marketed or used for packaging or transport of cannabis or cannabis containing items in the Market Territory. Any and all products sold pursuant to this Agreement shall be manufactured only in the Manufacturing Territory. This Grant shall inure to the benefit of the corporate entity to be formed by McGuire.
3.TERM
3.1 Term. ThisAgreementshallbecomeeffectiveuponitsexecutionbybothpartiesheretoand,unless terminatedearlierinaccordancewiththeprovisions ofthisAgreement,shallremain ineffectforthe life of the Patents.
4. CONSIDERATION
4.1 Upon execution of this Agreement, FreshTec will be granted a 30% share of the corporate entity to be formed by McGuire to utilize this license.
5. REPRESENTATION AND WARRANTIES OF THE PARTIES
5.1 FreshTec’s Representations:
(a)TherecitalstothisAgreementaretrueandcorrect;
(b)FreshTechastherighttogranttoMcGuiretheexclusiverightswithrespecttothePatentsasset forthherein;
(c)FreshTechasnotgrantedtoanyotherperson,otherthanMcGuire,anylicenseorotherrights relative to the Patents as they pertain to cannabis; and,
(d) TothebestofFreshTec'sknowledge,noneofthe Patents infringethepatentsofanythirdparty.
6. TERMINATION
6.1 Right to Terminate.InadditiontotherightstoterminatethisAgreementsetforth elsewhereinthisAgreement,eachofMcGuireandFreshTecshallhavetherighttoterminate thisAgreement uponthe occurrence ofany ofthe followingevents,such termination tobe effective immediatelyupon the receipt or deemed receipt by the other party of notice to that effect:
(a)theotherpartydefaultsinperforminganytermorconditionofthisAgreementandremainsin default for aperiod ofthirty(30)daysafter written noticethereof; or
(b)theotherpartywinds-up,dissolves,liquidatesortakesstepstodosoorotherwiseceasestofunctionorispreventedfromreasonablyperformingitsdutieshereunder.
6.2 Expiration.UnlessterminatedearlierpursuanttothetermsofthisAgreement,thisAgreementshallterminatewhenthelastclaimofanyPatentexpires,includinganyPatentthatisfiledafterthedateofthisAgreement.
6.3 Bankruptcy.FreshTecandMcGuireacknowledgethatthisAgreementisan “executorycontract”asprovidedinSection365(n)ofTitle11,UnitedStatesBankruptcyCode (the“Bankruptcy Code”). FreshTecacknowledges thatifFreshTec asadebtor in possession ora trustee in bankruptcyin a case under theBankruptcyCode rejects thisAgreement, McGuire may elect to retain his rights under this Agreement as provided in Section 365(n) of theBankruptcyCode,includingarightto anyembodimentsofany technologylicensedhereunderto the fullest extent permittedbylaw. FreshTec or such bankruptcytrustee shall not interfere with the rights of McGuireas provided in thisAgreement, except as otherwise permitted bylaw or equity.
6.4 Effect of Termination. UponterminationofthisAgreementforanyreasonwhatsoever:
(a)McGuireshallreturntoFreshTecallinformationalortechnicalmaterialgiventoMcGuirebyFreshTec;
(b)McGuireshallrefrainfromholdingitselfoutasalicenseeofthe Patents.
7. INTELLECTUAL PROPERTY AND INFRINGEMENTS
7.1 New Patents.FreshTecshall inform McGuire about theextent to which the terms of the Agreement are protectedbyanynewlyissuedpatents,domesticorforeign,asdefinedbythePatents.
7.2 Notice of Infringement. McGuire shall:
(a)notifyFreshTecpromptlyofanysuspectedinfringementofthePatentorpassing-offof any productsoranypendingorthreatenedlitigationorotherproceedingconcerningthePatentswhichmaycometoitsattention; and
(b)co-operatewithFreshTecinproceedingagainstsuchinfringers,totheextent requestedbyFreshTecand atFreshTec’s expense.
7.3 No Challenge. McGuireacknowledgesthatFreshTecistheexclusivelicenseeofthe Patentsandwilldonothingatanytime,duringor aftertheterm of this Agreement, which could adversely affect thevalidity orenforceabilityof thePatents.
7.4 Improvements. InconnectionwiththeuseofthePatents,thepartiesagreethatto the
extent thatthereareanyimprovementsto thePatents,whetherornot patentable,byMcGuire,orMcGuire’s sub-licensees.orFreshTecduringtheTermofthisAgreement,suchimprovementsshallbethepropertyofFreshTec and that McGuire orMcGuire’s sub-licensees shall have full rights to such improvements under the same terms outlined in the Agreement.McGuireandSub-licenseesherebyassignanyandall rightstosuchimprovementstoFreshTec andshallexecute any documents deemed necessary byFreshTectoreflectsuchassignments.
7.5IndemnificationbyFreshTec.FreshTecshallindemnifyMcGuireandholdhimharmlessfromanyandallclaims,losses,deficiencies,damages,liabilities,costs,and expenses(includingbutnotlimitedtoreasonable attorneyfeesandallrelatedcostsandexpenses)incurred byMcGuireas aresultofanyclaim,judgment,oradjudicationagainstMcGuireinwhichitisallegedthatany productinfringes on the Patent,tradesecret,orany otherintellectualpropertyrightofanythirdparty(an“InfringementClaim”),providedthatMcGuire(a)promptlynotifiesFreshTecinwritingofanysuchclaimandgivesFreshTectheopportunitytodefendorsettleany suchclaimatFreshTec'sexpenseand(b)cooperateswithFreshTec,atFreshTec'sexpense, indefendingorsettlingsuchclaim.Intheeventofanyjudgment,adjudicationorsettlementthatimpairsMcGuire’sability touse,sell, market,ordistributeassetforth inthisAgreement,McGuire shall have the right to terminate this Agreement upon thirty (30) days notice to FreshTec. The indemnification provisions of this Section shall survive termination or expiration of this Agreement but onlywith respect toInfringement Claims that arose from acts or circumstances which occurred prior to termination orexpiration.
7.6IndemnificationbyMcGuire.McGuireshallindemnifyFreshTecandholditharmlessfromanyandallclaims,losses,deficiencies,damages,liabilities,costs,and expenses(includingbutnot limitedtoreasonable attorney fees and all related costs and expenses) incurred by FreshTec as a result of any claim, judgment, or adjudication against FreshTec in which it is alleged that any product, or other marketed or sold component of a product, infringes any patent, trade secret, or any other intellectual property right of any third party (an “Infringement Claim”) as a direct resultofthenegligenceorwillfulmisconductofMcGuireandnotas adirectresultof thenegligenceorwillfulmisconductofFreshTec,providedthatFreshTec(a)promptly notifiesMcGuireinwritingofanysuchclaimandgivesMcGuiretheopportunitytodefendorsettleanysuchclaimatMcGuire'sexpenseand(b)cooperateswithMcGuire,atMcGuire'sexpense,indefendingorsettlingsuchclaim. The indemnification provisionsofthisSectionshallsurvive terminationor expirationofthis Agreement butonlywith respect toInfringement Claims that arose from acts or circumstanceswhich occurred prior to termination orexpiration.
8. INDEPENDENT CONTRACTOR
8.1ThisAgreementdoesnotandshallnotbeconstruedtocreateanypartnershiporagencywhatsoeveras betweenFreshTec andMcGuire,andneitherpartyshall,byreasonof anyprovisionhereincontained,bedeemedtobethepartner,agentorlegalrepresentativeoftheothernortohavetheability,rightorauthoritytoassumeorcreate,inwritingor
otherwise,anyobligationofanykind,expressorimplied,inthenameoforonbehalfoftheother.McGuireshallatalltimesbeanindependent contractor.
9. DISPUTE RESOLUTION
9.1GoverningLawandVenue.AlldisputesunderthisAgreementshallbegovernedbyandconstruedinaccordancewiththelawsoftheStateofCalifornia, withoutgiving effecttotheconflictoflawsprovisions thereof.Thevenueforanyandalldisputesshallbe SacramentoCounty,California.
9.2InjunctiveRelief.Intheeventofanycontroversyorclaimarisingoutoforrelatedtotheprovisionsconcerningtheuseandprotectionofconfidential informationinSection11 orthebreachthereof,thepartiesagreethatthepartywhoseconfidential informationisatissuemaysufferirreparableharmwhichmaynotbeadequatelycompensated bymonetarydamages.Accordingly,thepartiesagreethatintheeventofsuchbreachorthreatenedbreach,thenon-breachingpartyshallbeentitledtoinjunctiveorotherpreliminaryorequitablerelief,in additiontosuchotherremediesasmaybeavailableforsuchbreachorthreatenedbreach,includingdamages.
9.3Mediation.IntheeventofanycontroversyorclaimarisingoutoforrelatedtotheprovisionsofthisAgreementotherthanthosesetforthinSection11,thepartiesagreefirsttotryingoodfaithtosettlethedisputeby non-bindingmediationadministeredbytheAmericanArbitrationAssociationunderitsCommercialMediationRules.Mediationfees,if any, shallbedividedequallyamongthepartiesinvolved.If,foranydisputeforwhichthissubsectionapplies,anypartycommencesanactionwithoutfirstattemptingtoresolvethe matterthroughmediation,orrefusestomediateafter arequesthasbeenmade,thenthatpartyshallnotbeentitledtorecoverattorneyfees,eveniftheywouldotherwisebeavailable tothatparty inanysuchaction.Intheevent that thepartiesareunableto resolve anyclaim,dispute,orcontroversythroughmediationwithinninety(90)daysofthe demandformediation,then such claim,dispute, orcontroversy maybebrought beforeacourt of competent jurisdictioninSacramento County, California.Thepartiesherebyconsent tovenueandpersonaljurisdictioninthecourtsof Sacramento,California.Exceptassetforthinthissubsection,theprevailingpartyshallbeentitledtorecoveritscosts,includingattorneys’fees,inconnectionwithsuchaction.
10. GENERAL PROVISIONS
10.1EntireAgreement&Modifications.ThisAgreementconstitutestheentireagreementbetweenthepartieswithrespecttoallmattershereincontained,anditsexecutionhasnotbeeninducedby,nordoany ofthepartiesheretorely uponorregardasmaterial,any representationsorwritingswhatsoevernotincorporatedhereinandmade aparthereof.ThisAgreementshallnotbeamended, alteredorqualifiedexceptbyan instrumentinwriting,signed byallthe partiesheretoandanyamendments, alterationsorqualificationshereofshall not bebindinguponoraffectthe rightsofanypartywhohasnotgivenitsconsentinwriting. ItisagreedandunderstoodbetweenthepartiesthatthisAgreementis inadditiontoandnotinsubstitutionforanyother agreementsbetweenthe
partiesandall such otheragreementsshallremaininfullforceandeffect.
10.2Headings.ThedivisionofthisAgreementintoarticlesandsectionsisforconvenienceofreferenceonlyandshallnotaffecttheinterpretationorconstructionof thisAgreement.
10.3Severability.Intheeventthatanyofthecovenantshereincontainedshallbeheldunenforceableordeclaredinvalidforanyreasonwhatsoever,suchunenforceabilityorinvalidityshallnotaffecttheenforceabilityorvalidityoftheremainingprovisionsofthisAgreementandsuchunenforceableorinvalidportionshallbeseverable fromtheremainderofthisAgreement.
10.4ForceMajeure.Neitherpartyshallbeindefaulthereofbyreasonofitsdelayinthe performance of or failure to perform anyof its obligations hereunder, if such delay is caused by strikes, acts of God orthe publicenemy, riots, incendiaries, interference bycivil or military authorities, compliance withgovernmental laws, rules, and regulations, including thoserelating toexchange restrictionsorsecurity, delaysintransitordelivery,inability tosecurenecessarygovernmental priorities formaterial, or anyfailurebeyondits control, or without its fault or negligence.
10.5Notices.Allnotices,requests,demandsorcommunicationsmadepursuanttothetermshereoforrequiredorpermittedtobegivenbyonepartytoanothershallbegiveninwriting bypersonaldeliveryor byregisteredmail,postageprepaid,addressedtosuchotherpartyordeliveredto suchotherparty at the party’s known address with copies to know e-mail addresses.
10.6TimeoftheEssence.Timeshallbeoftheessence.
10.7FurtherAssurances.Thepartiesagreetosignsuchotherinstruments,doandperformandcausetobe doneandperformedsuchfurtherandotheractsandthingsasmaybenecessaryinorderto givefulleffecttothisAgreement.
10.8SuccessorsandAssigns.ThisAgreementshallinuretothebenefitofandbebindinguponthepartiesheretoandtheirrespectivesuccessorsandassigns.
10.9Non-Waiver.Nowaiverbyanypartyofanybreachbyanyotherpartyofanyofitscovenants,obligationsandagreementshereundershallbeawaiverofanysubsequentbreachofanyothercovenant,obligationoragreement,norshallany forbearancetoseek aremedy foranybreachbe awaiverofanyrightsandremedieswithrespecttosuchorany subsequentbreach.
10.10Unenforceability.Ifanytermorprovisioncontainedin thisAgreementshallbeheldby anycourtofcompetentjurisdictiontobe unenforceable, illegal,voidor contrarytopublicpolicy, such term orprovision shall be of no force or effect and thisAgreement shall nevertheless be binding and effectiveasto the other termsand provisions hereof.
10.11Drafting.Thisagreementshallbedeemedtohavebeendraftedbyallthepartieshereto, andeachpartyhashadtheopportunityto review this Agreement and no ambiguityshall be resolvedagainst any partybyvirtue of its participation in the drafting of this agreement.
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INWITNESSWHEREOFthepartieshavedulyexecutedthisAgreementasofthedateandyearfirstabovewritten.
By FreshTec:
X____/s/ Adrian Bray_______________________
_____ Adrian Bray_________________________
By McGuire:
X____/s/ Robert McGuire___________________
_____ Robert McGuire__________________________________
LICENSE ASSIGNMENT AND CONSENT AGREEMENT
THIS LICENSE ASSIGNMENT AND CONSENT AGREEMENT(this
“Agreement”), is entered into as of May 17, 2017, by and among ROBERT MCGUIRE, an individual residing in California, (“McGuire”), EPIC EVENTS CORP., a Wyoming corporation (“Epic”), and FRESHTEC, INC., a Delaware corporation (“FreshTec”).
WHEREAS,FreshTec and McGuire are parties to that certain License Agreement dated January 30, 2017 with respect to certain patents owned by FreshTech and licensed to McGuire thereunder (the “Original License”);
WHEREAS,Epic wishes McGuire to assign, and Epic wishes to assume, all rights, duties and obligations of McGuire under the Original License with respect to the patent and all other technologies, techniques and/or any product containing cannabis relative to the Market Territory and on the terms and conditions as described in said Original License, and FreshTec wishes to consent to such assignment; and
NOW, THEREFORE,in consideration of the foregoing, the covenants and agreements contained in this Agreement and the Original License, and other good and valuable consideration, the sufficiency and receipt of which are hereby acknowledged, FreshTec, McGuire, and Epic hereby agree as follows:
1. Defined Terms.Capitalized terms used in this Agreement and not otherwise defined in this Agreement shall have the meanings given to such terms in the Original License.
2. Consent.FreshTec hereby consents to the transfer and assignment from McGuire to Epic, and assumption by Epic from McGuire, effective immediately, of all rights, duties, and obligations under the Original License with respect to the patent and all other technologies, techniques and/or any product containing cannabis relative to the Market Territory and on the terms and conditions as described in said Original License as contemplated by this Agreement. Effective upon the execution of this Agreement, all the rights, duties, and obligations assigned hereunder, shall be enforceable by and between Epic and FreshTec with respect to such rights, duties, and obligations.
3. License Assignment.Subject to the terms and conditions of this Agreement, McGuire hereby transfers and assigns to Epic all rights, duties, and obligations of McGuire under the Original License with respect to the patent and all other technologies, techniques and/or any product containing cannabis relative to the Market Territory and on the terms and conditions as described in said Original License (the “Assigned Partial License”), and Epic agrees to assume such duties and obligations thereunder and be bound to the terms of the Original License with respect thereto. This
Agreement and the rights, duties, and obligations under the Original License assigned and transferred hereunder shall serve as the agreement between Epic and FreshTec with respect thereto. Accordingly, Epic and FreshTec agree that, upon such assignment, transfer, and assumption, each of Epic and FreshTec shall be entitled to enforce the applicable terms of the Original License against the other under this Agreement, provided that (i) the termination of McGuire’s remaining rights under the Original License shall not have any effect on the rights, duties, and obligations assigned to Epic hereunder and (ii) without limiting any remedies FreshTecC may have against McGuire, FreshTec shall not be entitled to limit or terminate the rights assigned to Epic hereunder based on any default or breach by McGuire of the Original License occurring prior to the execution of this Agreement.
4. Consideration. As consideration for FreshTec to assign the license from McGuire to Epic, Epic shall issue to FreshTec Eleven Million Six Hundred Fifty Thousand Three Hundred Forty-Seven (11,650,347) newly issued shares of common stock of Epic, par value $0.01 per share which constitutes 26.885% of all shares of the Company that are issued and outstanding.
5. Release.Effective immediately, FreshTec, on behalf of itself and its affiliates, successors and assigns hereby forever releases, acquits and discharges McGuire and his respective affiliates, shareholders, officers, directors, agents, trustees, beneficiaries, employees, successors and assigns, which shall not in any event be construed as to include Epic (the ”Released Parties”), of and from any and all claims, acts, damages, demands, rights of action and causes of action, of any nature whatsoever, which FreshTec and/or its affiliates, successors and assigns in the future may have with respect to matters occurring from and after this date, against the Released Parties arising from or in connection with the license or any of the transactions or matters contemplated thereby.
6. Governing Law.This Agreement shall be governed and construed in accordance with the laws of the State of Wyoming excluding any choice of law rules which may direct the application of the law of another state.
7. Counterparts.This Agreement may be executed in any number of counterparts, each of which shall be deemed an original but all of which together shall constitute a single instrument.
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IN WITNESS WHEREOF, the parties hereto have executed, or caused to be executed, this License Assignment and Consent Agreement as of the date first above written.
MCGUIRE
/s/Robert McGuire_____________________
Robert McGuire
EPIC
EPIC EVENTS CORP.
By: _/s/Robert McGuire________________
Robert McGuire, President
FRESHTEC
FRESHTEC, INC.
By:/s/ Adrian Bray___________________
A.A. Bray, President
