Novas USA, Technovita, and the JV Entity hereby jointly and severally agree to allocate to the JV Entity all expenses incurred by the Technovita or Novas during the period between August 1, 2015 and October 21, 2015 as set forth in Exhibits A, B, and C annexed hereto.
In the event of a termination of the License Agreement (as defined in the Sublicense Agreement between, inter alia, the Company and Technovita Technologies Corporation), one hundred percent (100%) of Technovita's Membership Interest in the Company and all of Technovita's rights under this Agreement shall be transferred and assigned to Novas USA, and Technovita shall no longer be a party to this Agreement or Member of the Company.
Two (2) members of the Board of Directors shall be appointed by Technovita (the "Technovita Directors"), and three (3) members of the Board of Directors shall be appointed by Novas USA (the "Novas Directors").
Novas USA, Technovita, and the JV Entity hereby jointly and severally agree to allocate to the JV Entity expenses in the amount of $110,496.00 USD incurred during the month of August 2015, and the JV Entity shall immediately reimburse such amount to Technovita.
The Technovita Directors shall initially be Ken Stankievech and vacant, and the Novas Directors shall initially be Ivan Persiyanov, John Huemoeller (as the current CEO of Propell Technologies Group, Inc.) and vacant.