INTELLECTUAL PROPERTY AND SOFTWARE SUB-LICENSE AGREEMENT

1. DEFINITIONS

2. RECORDIAL

3. GRANT OF SUB-LICENSE

4. TERM AND TERMINATION

5. OBLIGATIONS

6. PROVISION OF KNOW-HOW, AND TECHNICAL ASSISTANCE

In exercising its right to sub-license the use of the Technology, Licensor shall be entitled to make all information furnished in terms of this section 6 available to any sub-licenses but provided that in doing so, it shall procure a written undertaking of confidentiality from such sub-licensee in the form of the draft attached as “Exhibit A”.

7. IMPROVEMENTS

8. PRIVACY AND SECURITY

9. INFRINGEMENT OF TECHNOLOGY

10. WARRANTIES

11. PURCHASE OF SERVICES ADDITIONAL TO THE PROCESS AND ASSAY PROCESS

In order for Licensee to properly enjoy the sub-license and rights granted to it in terms of this Agreement, it may require Services in addition to the Technology. Licensee hereby agrees to purchase its requirements pursuant to ongoing Services with regard to the Technology from Licensor or per the designate of Licensor, which hereby agrees to supply them to Licensee, in accordance with and subject to the following provisions:

12. LIMITATION OF REMEDIES AND DAMAGES

Licensee’s remedy for a breach of this Agreement or of any warranty included in this Agreement is the correction or replacement of the Technology. Selection of whether to correct or replace shall be solely at the discretion of Licensor. Licensor reserves the right to substitute a functionally equivalent copy of the Technology and/or Services as a replacement. If Licensor is unable to provide a replacement or substitute Technology or corrections to the Technology, Licensee’s sole alternate remedy shall be a refund of the purchase price for the Technology exclusive of any costs for shipping and handling.

​Any claim must be made within the applicable warranty period. All warranties cover only defects arising under normal use and do not include malfunctions or failure resulting from misuse, a non-intended use, abuse, neglect, alteration, problems with electrical power, acts of nature, unusual temperatures or humidity, improper installation, or damage determined by Licensor to have been caused by you. All limited warranties on the Technology are granted only to Licensee and are non-transferable. Licensee agree to indemnify and hold Licensor, and any of their assigns, representatives, employees, officers, members, shareholders, owners, and/or agents harmless from all claims, judgments, liabilities, expenses, or costs arising from your breach of this Agreement and/or acts or omissions.

13. DOMICILIUM

The parties hereby choose DOMICILIUM citandi et executandi for all purposes under this agreement at the addresses set out in this agreement, and either party may at any time change its DOMICILIUM to any other address (not being a post office box or poste restante) on not less than ten (10) days written notice to such effect to the other party.

14. NOTICES

Any notice by or to either party or to Licensor in terms of this agreement shall be given in writing and shall be delivered by hand to a responsible person present at or sent by prepaid registered post or facsimile transmission to the DOMICILIUM chosen by the addressee in terms of this agreement and whereupon it shall be deemed to have been received when so delivered or 15 days after being so sent.

15. PUBLICITY

Without the prior written consent of the other party, neither party shall disclose the terms and conditions of this Agreement, except disclosure may be made as is reasonably necessary to the disclosing party’s bankers, attorneys, or accountants or except as may be required by law.

16. NO VARIATION

No variation of, or addition or agreed cancellation to this Agreement shall be of any force or effect unless it is reduced to writing and signed by or on behalf of the parties.

17. ENTIRE AGREEMENT

This Agreement, including any attachments, constitutes the entire agreement between the parties with respect to its subject matter. No agreements, guarantees or representations, whether verbal or in writing, have been concluded, issued or made, upon which either party is relying in concluding this Agreement, save to the extent set out in this Agreement.

18. HEADINGS

The headings appearing in this Agreement have been used for reference purposes only and shall not affect its interpretation.

19. WAIVER

This Agreement may not be modified or amended except in a writing signed by an authorized officer of each party. The failure of either party to enforce any provision of this Agreement shall not be deemed a waiver of the provisions or of the right of such party thereafter to enforce that or any other provision.

20. TAXES

Each party shall pay all taxes (including sales and value-added taxes) imposed on it by the Government of any jurisdiction in which such party is doing business in respect of the sub-licenses or rights granted under this Agreement.

21. SEVERABILITY

If any provision of this Agreement is held to be illegal or unenforceable for any reason, such provision shall be deemed severable from the remaining provisions of this Agreement and shall in no way effect or impair the validity or enforceability of the remaining provisions of this Agreement. If any provision of this Agreement conflicts with any other provision of any other agreement between the parties, including any confidentiality agreement, the provisions of this Agreement shall prevail.

22. MISCELLANEOUS

23. GOVERNING LAW

This Agreement and all matters arising hereunder shall be governed by, and construed in accordance with the Laws of, the State of Florida.