Attached files
| file | filename |
|---|---|
| 8-K - FORM 8-K - FBEC Worldwide Inc. | fbec_8k-063015.htm |
| EX-10.2 - INTELLECTUAL PROPERTY PURCHASE AGREEMENT - FBEC Worldwide Inc. | fbec_8k-ex1002.htm |
| EX-10.5 - CONVERTIBLE NOTE - FBEC Worldwide Inc. | fbec_8k-ex1005.htm |
| EX-10.4 - CONSULTING AGREEMENT - FBEC Worldwide Inc. | fbec_8k-ex1004.htm |
| EX-10.3 - ROYALTY AGREEMENT - FBEC Worldwide Inc. | fbec_8k-ex1003.htm |
EXHIBIT 10.1
FBEC Worldwide Inc.
Letter of Intent
June 29, 2015
Tyler Strause, President
G. Randall & Sons, Inc.
2069 Coast Blvd
Del Mar CA 92014
Dear Tyler,
FBEC Worldwide Inc. desires to engage G. Randall & Sons Inc. for the purchase of Intellectual Property related to the formulation and preparation of a 2 oz hemp energy shot as described in attachment 1: 2 oz Extra Strength Hemp Energy Shot - Original Formula.
G. Randall & Sons, Inc. (herein “GR&S”) agrees to provide the formula and recipe for a proprietary hemp energy shot (the “IP”) to FBEC Worldwide (herein “FBEC”) under an Intellectual Purchase Agreement with considerations of $50,000 ( $15,000 cash payment and, $35,000 in Common stock under a Convertible Note Agreement), A Royalty Agreement of 2.5% of net sales, and a Consulting Agreement with considerations of $3,000 per month.
Product formulation and recipe will be delivered upon receipt of the above executed documents and the cash payment of $15,000. Any changes to the IP formula, described in Attachment 1 herein, which do not substantially impact the final formulation, will be provided at no cost.
GR&S agrees that any future beverage product formulations and recipes will be acquired under an Intellectual Property Purchase Agreement for $20,000 ( $10,000 in cash and $10,000 in Common stock under a Convertible Note Agreement), with a Royalty Agreement of 2.5% of net sales for each formulation and recipe.
Prepared By:
Linda Strause, Ph. D. Vice President
G. Randall & Sons, Inc.
Received By:
Robert Sand, CEO
FBEC Worldwide Inc.
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FBEC Worldwide Inc.
Letter of Intent
Attachment 1
2
oz - Extra Strength, Hemp Energy Drink - Original Formula
Hemp Juice Energy Shot –
Attachment 1
2oz - Extra Strength, Hemp Energy Drink - Original Formula
Hemp Juice Energy Shot –
| · | A two ounce shot made with hemp juice, aloe, sweetened with stevia and agave nectar. |
| · | Fortified with vital nutrients and amino-acids enriched with a proprietary blend of herbal extracts to deliver a boost of energy and all day focus. |
Base Ingredients
| · | Hemp Juice |
| · | Vegetable Glycerine |
| · | Agave Nectar |
| · | Aloe Juice |
| · | Sweetener of Choice |
Vital Nutrients & Amino Acids
| · | Beta-Carotene (Vitamin A) |
| · | Caffeine |
| · | Niacin (Vitamin B3) |
| · | Thiamine (Vitamin B1) |
| · | Pantothenic Acid (Vitamin B5) |
| · | Sodium (Sodium Ascorbate) |
| · | Biotin (Vitamin B7) |
| · | Phosphatidylserine |
Proprietary Herbal Blend
| · | Green Tea Extract (Camellia sinensis) |
| · | Siberian Ginseng Extract (Eleutheroccoccus senticosus) |
| · | American Ginseng Root Extract (Panax Ginseng) |
| · | Chinese Licorice Root Extract (Glycyrrhiza Uranelsis Radix) |
| · | Ginkgo Biloba Leaf Extract (Ginkgo biloba) |
| · | Guayusa Leaf Extract (Ilex guayusa) |
Other Ingredients : Soy Lecithin, Sodium Benzoate, Natural Flavor
G. Randall & Sons, Inc | 2069 Coast Blvd. Del Mar, CA 92014 | tyler@randallandsonsinc.com | (858) 876.7901
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