Document:

<Page>

                                                                   EXHIBIT 10.23

                                ACME PACKET, INC.

                            2006 DIRECTOR OPTION PLAN

1.   PURPOSE

     This Plan is intended to promote the recruiting and retention of highly
qualified Eligible Directors, to strengthen the commonality of interest between
directors and stockholders by encouraging ownership of Common Stock of the
Company by Eligible Directors, and to provide additional incentives for Eligible
Directors to promote the success of the Company's business. The Plan is NOT
intended to be an incentive stock option plan within the meaning of Section 422
of the Code. None of the Options granted hereunder will be "incentive stock
options" within the meaning of Section 422 of the Code.

2.   DEFINITIONS

     As used in the Plan the following terms shall have the respective meanings
set out below, unless the context clearly requires otherwise:

     2.1. "ACCELERATE", "ACCELERATED", and "ACCELERATION", when used with
respect to an Option, means that as of the time of reference such Option will
become exercisable with respect to some or all of the shares of Common Stock for
which it was not then otherwise exercisable by its terms.

     2.2. "ACQUIRING PERSON" means, with respect to any Transaction or any
acquisition described in clause (ii) of the definition of Change of Control, the
surviving or acquiring person or entity in connection with such Transaction or
acquisition, as the case may be, provided that if such surviving or acquiring
person or entity is controlled, directly or indirectly, by any other person or
entity (an "Ultimate Parent Entity") that is not itself controlled by any entity
or person that is not a natural person, the term "Acquiring Person" shall mean
such Ultimate Parent Entity.

     2.3. "AFFILIATE" means, with respect to any person or entity, any other
person or entity controlling, controlled by or under common control with the
first person or entity.

     2.4. "APPLICABLE VOTING CONTROL PERCENTAGE" means twenty percent (20%).

     2.5. "BENEFICIAL OWNERSHIP" has the meaning ascribed to such term in Rule
13d-3, or any successor rule thereto, promulgated by the Securities and Exchange
Commission pursuant to the Exchange Act.

     2.6. "BOARD" means the Company's board of directors.

     2.7. "CHANGE OF CONTROL" means (i) the closing of any Sale of the Company
Transaction or (ii) the direct or indirect acquisition, in a single transaction
or a series of related transactions, by any person or Group (other than the
Company or a Controlled

<Page>

Affiliate of the Company) of Beneficial Ownership of previously outstanding
shares of capital stock of the Company if (A) immediately after such
acquisition, such person or Group, together with their respective Affiliates,
shall own or hold shares of capital stock of the Company possessing at least the
Applicable Voting Control Percentage of the total voting power of the
outstanding capital stock of the Company and (B) immediately prior to such
acquisition, such person or Group, together with their respective Affiliates,
did not own or hold shares of capital stock of the Company possessing at least
the Applicable Voting Control Percentage of the total voting power of the
outstanding capital stock of the Company. Notwithstanding anything expressed or
implied in the foregoing provisions of this definition to the contrary, any
direct or indirect acquisition referred to in clause (ii) above in this
definition shall not be treated as a Change of Control if, at any time prior to
or after such direct or indirect acquisition, a majority of the members of the
Board of Directors of the Company as constituted immediately prior to such
direct or indirect acquisition consent in writing to exclude such direct or
indirect acquisition from the scope of this definition..

     2.8. "CODE" means the Internal Revenue Code of 1986, as amended from time
to time, or any successor statute thereto, and any regulations issued from time
to time thereunder.

     2.9. "CONTROLLED AFFILIATE" means, with respect to any person or entity,
any other person or entity that is controlled by such person or entity.

     2.10. "COMMITTEE" means any committee of the Board delegated responsibility
by the Board for the administration of the Plan, as provided in Section 5 of the
Plan. For any period during which no such committee is in existence, the term
"COMMITTEE" shall mean the Board and all authority and responsibility assigned
the Committee under the Plan shall be exercised, if at all, by the Board.

     2.11. "COMMON STOCK" means common stock, par value $0.001 per share, of the
Company.

     2.12. "COMPANY" means Acme Packet, Inc., a corporation organized under the
laws of the State of Delaware.

     2.13. "ELIGIBLE DIRECTOR" means a director of one or more of the Company
and its Subsidiaries who is not also an employee or officer of one or more of
the Company and its Subsidiaries.

     2.14. "EXCHANGE ACT" means the Securities Exchange Act of 1934, as amended.

     2.15. "GRANT DATE" means the date as of which an Option is granted, as
determined under Section 7.1 or Section 7.2, as applicable.

     2.16. "GROUP" has the meaning ascribed to such term in Section 13(d)(3) of
the Exchange Act or any successor section thereto.

                                       2
<Page>

     2.17. "HOLDER" means, with respect to any Option, (a) the Optionee to whom
such Option shall have been initially granted under the Plan, or (b) any
transferee of such Option to whom such Option shall have been transferred in
accordance with the provisions set forth herein.

     2.18 "MARKET VALUE" means the value of a share of Common Stock on a
particular date determined by such methods or procedures as may be established
by the Committee. Unless otherwise determined by the Committee, the Market Value
of Common Stock as of any date is the closing price for the Common Stock as
reported on the Nasdaq Global Market (or on any other national securities
exchange on which the Common Stock is then listed) for that date or, if no
closing price is reported for that date, the closing price on the next preceding
date for which a closing price was reported.

     2.19 "OPTION" means an option granted under the Plan to purchase shares of
Common Stock.

     2.20 "OPTION AGREEMENT" means an agreement between the Company and the
Holder of an Option, setting forth the terms and conditions of the Option.

     2.21 "OPTIONEE" means an Eligible Director to whom an Option shall have
been granted under the Plan.

     2.22 "PLAN" means this 2006 Director Option Plan of the Company, as amended
and in effect from time to time.

     2.23 "SALE OF THE COMPANY TRANSACTION" means any Transaction in which the
stockholders of the Company immediately prior to such Transaction, together with
any and all of such stockholders' Affiliates, do not own or hold, immediately
after consummation of such Transaction, shares of capital stock of the Acquiring
Person in connection with such Transaction possessing at least a majority of the
total voting power of the outstanding capital stock of such Acquiring Person.

     2.24 "SECURITIES ACT" means the Securities Act of 1933, as amended.

     2.25 "TRANSACTION" means any merger or consolidation of the Company with or
into another person or entity or the sale or transfer of all or substantially
all of the assets of the Company, in each case in a single transaction or in a
series of related transactions.

3.   TERM OF THE PLAN

     Unless the Plan shall have been earlier terminated by the Board, Options
may be granted under this Plan at any time in the period commencing upon the
effectiveness of the Plan in accordance with the provisions of Section 17 hereof
and ending immediately prior to the tenth anniversary of the adoption of the
Plan by the Board. Options granted pursuant to the Plan within such period shall
not expire solely by reason of the termination of the Plan.

                                       3
<Page>

4.   STOCK SUBJECT TO THE PLAN

     Subject to the provisions of Section 8 of the Plan, at no time shall the
number of shares of Common Stock issued pursuant to or subject to outstanding
Options granted under the Plan exceed the sum of (a) 300,000 shares of Common
Stock plus (b) an annual increase to be added, automatically and without further
action, on January 1 of each calendar year equal to 75,000 shares of Common
Stock; PROVIDED, HOWEVER, that the Board may, at any time and on any one or more
occasions, take action to waive the annual increase set forth in clause (b), in
whole or in part. For purposes of applying the foregoing limitation, (a) if any
Option expires, terminates, or is cancelled for any reason without having been
exercised in full, the shares not purchased by the Optionee (or the Holder of
such Option) shall again be available for Options thereafter to be granted under
the Plan, and (b) if any Option is exercised by delivering previously owned
shares in payment of the exercise price therefor, only the net number of shares,
that is, the number of shares issued minus the number received by the Company in
payment of the exercise price, shall be considered to have been issued pursuant
to an Option granted under the Plan. Shares of Common Stock issued pursuant to
the Plan may be either authorized but unissued shares or shares held by the
Company in its treasury.

5.   ADMINISTRATION

     The Plan shall be administered by the Committee; PROVIDED, HOWEVER, that at
any time and on any one or more occasions the Board may itself exercise any of
the powers and responsibilities assigned the Committee under the Plan and when
so acting shall have the benefit of all of the provisions of the Plan pertaining
to the Committee's exercise of its authorities hereunder. Subject to the
provisions of the Plan, the Committee shall have complete authority to interpret
the Plan, to prescribe, amend and rescind rules and regulations relating to it,
to determine the terms and provisions of the respective Option Agreements (which
need not be identical), and to make all other determinations necessary or
advisable for the administration of the Plan. The Committee's determinations
made in good faith on matters referred to in this Plan shall be final, binding
and conclusive on all persons having or claiming any interest under the Plan or
an Option made pursuant hereto.

6.   AUTHORIZATION AND ELIGIBILITY

     Only Eligible Directors shall be granted Options under the Plan. Each grant
of an Option shall be subject to all applicable terms and conditions of the Plan
(including but not limited to any specific terms and conditions set forth in the
Section 7 below), and such other terms and conditions, not inconsistent with the
terms of the Plan, as the Committee may prescribe. No prospective holder of an
Option shall have any rights with respect to such Option, unless and until such
holder has executed an agreement evidencing the Option, delivered a fully
executed copy thereof to the Company, and otherwise complied with the applicable
terms and conditions of such Option.

                                       4
<Page>

7.   SPECIFIC TERMS OF OPTIONS

     7.1. DIRECTORS ELECTED FOR FIRST TIME. Each Eligible Director who is
elected or appointed to the Board during the term of the Plan at any time after
the effectiveness the Plan as set forth in Section 17 hereof (whether elected at
an annual or special stockholders' meeting or appointed by action of the Board),
and who was not immediately prior to such election or appointment already a
member of the Board, shall be granted, on the date of such meeting or other
appointment or election, an Option to purchase (X) 12,500 shares of Common Stock
(subject to adjustment as set forth in Section 8) or (Y) such other greater or
smaller number of shares of Common Stock as the Board shall have set by
resolution of the Board at or prior to the date of the appointment or election
of such Eligible Director (unless such resolution of the Board shall provide
that such Eligible Director shall not receive an Option under this Section 7.1,
in which case such Eligible Director shall not be granted any Option under this
Section 7.1); PROVIDED, HOWEVER, that if such Eligible Director is not elected
to the Board at an annual stockholders' meeting, then the number of shares of
Common Stock subject to the Option granted or to be granted to such Eligible
Director pursuant to this Section 7.1 shall be equal to (A) the product of (i)
the number of shares of Common Stock to which such Option would be subject under
this Section 7.1 if such Eligible Director had been elected to the Board at the
last annual meeting of stockholders, if any, that occurred during the term of
the Plan and (ii) a fraction, the numerator of which shall be equal to twelve
(12) minus the number of thirty (30) day periods elapsed since the last annual
meeting of stockholders, if any, that occurred during the term of the Plan
(provided that in no event shall such numerator be less than zero), and the
denominator of which is twelve (12), or (B) such other greater or smaller number
of shares of Common Stock as the Board shall have set by resolution of the Board
at or prior to the date of the appointment or election of such Eligible Director
(unless such resolution shall provide that such Eligible Director shall not
receive an Option under this Section 7.1, in which case such Eligible Director
shall not be granted any Option under this Section 7.1). Subject to the
provisions of this Section 7.1 or Section 9 hereof, grants of Options under this
Section 7.1 occur automatically without any action being required of the
Optionee, the Committee, the Board, the Company or any other person, entity or
body.

     7.2. ANNUAL GRANTS. Subject to the Plan's effectiveness as set forth in
Section 17 and to the provisions set forth below in this Section 7.2, on the
date of each annual meeting of stockholders of the Company, commencing with the
2007 annual meeting of stockholders, each Eligible Director who continues to be
a director of the Company as of the close of business on the date of such annual
meeting of stockholders shall be granted an Option as of the close of business
on such date, to purchase 12,500 shares of Common Stock (subject to adjustment
as set forth in Section 8) or such other greater or smaller number of shares of
Common Stock as the Board shall have set by resolution of the Board prior to the
date of such annual meeting of stockholders (unless such resolution shall
provide that such Eligible Director shall not receive an Option under this
Section 7.2 at such annual meeting of stockholders, in which case such Eligible
Director shall not be granted any Option under this Section 7.2 as of the close
of business on the date of such annual meeting). Notwithstanding the foregoing
provisions of this Section 7.2, no

                                       5
<Page>

Eligible Director shall be granted any Option pursuant to this Section 7.2 as of
the close of business on the date of any annual meeting of stockholders if on
such date such Eligible Director is granted an Option pursuant to Section 7.1
hereof. Subject to the provisions of this Section 7.2 or Section 9 hereof,
grants of Options under this Section 7.2 shall occur automatically without any
action being required of the Optionee, the Committee, the Board, the Company or
any other person, entity or body.

     7.3. CERTAIN TERMS OF OPTION; EXERCISE PRICE. Each Option granted to an
Optionee under this Section 7 shall have an exercise price equal to 100% of the
Market Value of the Stock on the applicable Grant Date. No Option granted
pursuant to the Plan is intended to qualify as an incentive stock option within
the meaning of Section 422 of the Code. The grants shall be evidenced by Option
Agreements containing provisions that are in all respects consistent with this
Section 7. All of such Option Agreements shall contain identical terms and
conditions, except as otherwise required or permitted by this Section 7.

     7.4. OPTION PERIOD. The option period for each Option granted pursuant to
the Plan shall be ten (10) years from the Grant Date of such Option.

     7.5. EXERCISABILITY. Subject to Section 7.6 below, each Option granted to
an Eligible Director pursuant to Section 7.1 or Section 7.2 above shall become
exercisable in a series of four equal quarterly installments, with the first of
such quarterly installments becoming exercisable on the first day of the first
calendar quarter after the applicable Grant Date of such Option and an
additional quarterly installment becoming exercisable on the first day of each
calendar quarter thereafter until such Option shall have become exercisable for
all of the shares of Common Stock subject to such Option. Notwithstanding the
foregoing provisions of this Section 7.5, and except to the extent otherwise
provided in Section 7.6 below, each Option that is outstanding as of the close
of business on the business day immediately preceding the date of any annual
meeting of stockholders of the Company shall, to the extent such Option has not
at or prior to such time become exercisable in full, automatically become
exercisable for all of those shares of Common Stock subject to such Option in
respect of which such Option is not then exercisable. In the case of an Option
not otherwise immediately exercisable in full, the Committee may Accelerate such
Option in whole or in part at any time.

     7.6. EFFECT OF TERMINATION OF BOARD MEMBER RELATIONSHIP. Unless the
Committee at any time shall provide otherwise with respect to any Option, if an
Optionee ceases to be a director of the Company and its Affiliates for any
reason or no reason (whether voluntarily or involuntarily, including as a result
of death), any outstanding Option initially granted to such Optionee, whether
then held by such Optionee or any other Holder, shall cease to be exercisable in
any respect not later than ninety (90) days following that event and, for the
period it remains exercisable following that event, shall be exercisable only to
the extent exercisable at the date of that event.

     7.7. TRANSFERABILITY. Except as otherwise provided in this Section 7.7,
Options shall not be transferable, and no Option or interest therein may be
sold, transferred,

                                       6
<Page>

pledged, assigned, or otherwise alienated or hypothecated, other than by will or
by the laws of descent and distribution (subject always to the provisions of
Section 7.6 hereof). Except as otherwise provided in this Section 7.7, all of a
Holder's rights in any Option may be exercised only during the life of such
Holder and only by such Holder or such Holder's legal representative. However,
the applicable Option Agreement or the Committee (at or after the grant of an
Option) may provide that an Option may be transferred by the applicable Holder
to a family member; PROVIDED, HOWEVER, that any such transfer is without payment
of any consideration whatsoever and that no transfer of an Option shall be valid
unless first approved by the Committee, acting in its sole discretion, unless
such transfer is permitted under the applicable Option Agreement. For this
purpose, "family member" means any child, stepchild, grandchild, parent,
stepparent, spouse, former spouse, sibling, niece, nephew, mother-in-law,
father-in-law, son-in-law, daughter-in-law, brother-in-law, or sister-in-law,
including adoptive relationships, any person sharing the applicable Holder's
household (other than a tenant or employee), a trust in which the foregoing
persons and/or the applicable Holder have more than fifty percent (50%) of the
beneficial interests, a foundation in which the foregoing persons and/or the
applicable Holder control the management of assets, and any other entity in
which these persons and/or the applicable Holder own more than fifty percent
(50%) of the voting interests. The Committee may at any time or from time to
time delegate to one or more officers of the Company the authority to permit
transfers of Options to third parties pursuant to this Section 7.7, which
authorization shall be exercised by such officer or officers in accordance with
guidelines established by the Committee at any time and from time to time. The
restrictions on transferability set forth in this Section 7.7, shall in no way
preclude any Holder from effecting "cashless" exercises of an Option pursuant to
the terms of the Plan.

     7.8. METHOD OF EXERCISE. An Option may be exercised by the Holder of such
Option by giving written notice, in the manner provided in Section 15,
specifying the number of shares of Common Stock with respect to which the Option
is then being exercised. The notice shall be accompanied by payment in the form
of cash or check payable to the order of the Company in an amount equal to the
exercise price of the shares of Common Stock to be purchased or, subject in each
instance to the Committee's approval, acting in its sole discretion and subject
to such conditions, if any, as the Committee may deem necessary to comply with
applicable laws, rules and regulations and to avoid adverse accounting effects
to the Company, by delivery to the Company of shares of Common Stock having a
Market Value equal to the exercise price of the shares to be purchased. No
Holder shall be permitted to effect payment of any amount of the exercise price
of the shares of Common Stock to be purchased by executing and delivering to the
Company a promissory note. If the Common Stock is traded on an established
market, payment of any exercise price may also be made through and under the
terms and conditions of any formal cashless exercise program authorized by the
Company entailing the sale of the Common Stock subject to any Option in a
brokered transaction (other than to the Company). Receipt by the Company of such
notice and payment in any authorized or combination of authorized means shall
constitute the exercise of the Option. Within thirty (30) days thereafter but
subject to the remaining provisions of the Plan, the Company shall deliver or
cause to be delivered to the Holder

                                       7
<Page>

or his agent a certificate or certificates for the number of shares then being
purchased. Such shares shall be fully paid and nonassessable. Notwithstanding
any of the foregoing provisions in this subsection 7.8 to the contrary, (A) no
Option shall be considered to have been exercised unless and until all of the
provisions governing such exercise specified in the Plan and in the relevant
Option Agreement shall have been duly complied with; and (B) the obligation of
the Company to issue any shares upon exercise of an Option is subject to the
provisions of Section 9.1 hereof and to compliance by the Holder with all of the
provisions of the Plan and the relevant Option Agreement.

     7.9. RIGHTS PENDING EXERCISE. No person holding an Option shall be deemed
for any purpose to be a stockholder of the Company with respect to any of the
shares of Common Stock issuable pursuant to his Option, except to the extent
that the Option shall have been exercised with respect thereto and, in addition,
a certificate shall have been issued therefor and delivered to such holder or
his agent.

     7.10. GRANTS TO OPTIONEE'S OUTSIDE THE UNITED STATES. The Committee may
modify the terms of any Option under the Plan granted to an Optionee who is, at
the time of grant or during the term of the Option, resident or primarily
employed outside of the United States in any manner deemed by the Committee to
be necessary or appropriate in order that such Option shall conform to laws,
regulations, and customs of the country in which such Optionee is then resident
or primarily employed, or so that the value and other benefits of the Option to
such Optionee, as affected by foreign tax laws and other restrictions applicable
as a result of such Optionee's residence or employment abroad, shall be
comparable to the value of such Option to an Optionee who is resident or
primarily employed in the United States. An Option may be modified under this
Section 7.10 in a manner that is inconsistent with the express terms of the
Plan, so long as such modifications will not contravene any applicable law or
regulation. The Committee may establish supplements to, or amendments,
restatements, or alternative versions of the Plan for the purpose of granting
and administrating any such modified Option. No such modification, supplement,
amendment, restatement or alternative version may increase the share limit of
Section 4.

8.   ADJUSTMENT PROVISIONS

     8.1. ADJUSTMENT FOR CORPORATE ACTIONS. All of the share numbers set forth
in the Plan reflect the capital structure of the Company immediately after the
closing of the initial public offering of the Company's Common Stock. Subject to
the provisions of Section 8.2, if subsequent to such date the outstanding shares
of Common Stock (or any other securities covered by the Plan by reason of the
prior application of this Section) are increased, decreased, or exchanged for a
different number or kind of shares or other securities, or if additional shares
or new or different shares or other securities are distributed with respect to
such shares of Common Stock or other securities, through merger, consolidation,
sale of all or substantially all the property of the Company, reorganization,
recapitalization, reclassification, stock dividend, stock split, reverse stock
split, or other distribution with respect to such shares of Common Stock, or
other securities, an appropriate and proportionate adjustment will be made in
(i) the maximum

                                       8
<Page>

numbers and kinds of shares provided in Section 4, (ii) the numbers and kinds of
shares or other securities subject to the then outstanding Options, and (iii)
the exercise price for each share or other unit of any other securities subject
to then outstanding Options (without change in the aggregate purchase price as
to which such Options remain exercisable).

     8.2. CHANGE OF CONTROL. Subject to the applicable provisions of the Option
Agreement, in the event of a Change of Control, the Committee shall have the
discretion, exercisable in advance of, at the time of, or (except to the extent
otherwise provided below) at any time after, the Change of Control, to provide
for any or all of the following (subject to and upon such terms as the Committee
may deem appropriate): (A) the assumption of outstanding Options, or the
substitution of outstanding Options with equivalent options, by the acquiring or
succeeding corporation or entity (or an affiliate thereof); or (B) the
termination of all Options (other than Options that are assumed or substituted
pursuant to clause (A) above) that remain outstanding at the time of the
consummation of the Change of Control, PROVIDED THAT, the Committee shall have
made the determination to effect such termination prior to the consummation of
the Change of Control and the Committee shall have given, or caused to be given,
to all Optionees written notice of such potential termination at least five
business days prior to the consummation of the Change of Control, and PROVIDED,
FURTHER, THAT, if the Committee shall have determined in its sole and absolute
discretion that the Corporation make payment or provide consideration to the
holders of such terminated Options on account of such termination, which payment
or consideration shall be on such terms and conditions as the Committee shall
have determined (and which could consist of, in the Committee's sole and
absolute discretion, payment to the applicable Optionee or Optionees of an
amount of cash equal to the difference between the Market Value of the shares of
Common Stock for which the Option is then exercisable and the aggregate exercise
price for such shares under the Option), then the Corporation shall be required
to make such payment or provide such consideration in accordance with the terms
and conditions so determined by the Committee; otherwise the Corporation shall
not be required to make any payment or provide any consideration in connection
with, or as a result of, the termination of Options pursuant to the foregoing
provisions of this clause (B). Upon the occurrence of a Change of Control, any
and all Options not already exercisable in full shall Accelerate with respect to
all of the shares of Common Stock for which such Options are not then
exercisable. In the case of any Option that would be terminated pursuant to
clause (B) above of this Section 8.2 upon consummation of a Change of Control,
such Option, to the extent not already exercisable in full on the date the
Holder thereof is given written notice of such potential termination as required
by the foregoing provisions of this Section 8.2, shall, on the date such written
notice of termination is given or required to be given, Accelerate with respect
to all of the shares of Common Stock for which such Option is not then
exercisable; PROVIDED, HOWEVER, that if such Change of Control is not and will
not be consummated then the Acceleration of such Option pursuant to the
provisions of this sentence, but only if and to the extent that such Option
remains outstanding at the time written notice is given to the Holder thereof
that such Change of Control has not and will not be consummated, shall be
automatically revoked and such Option shall thereafter continue to be
exercisable in accordance with its

                                       9
<Page>

terms as if the Acceleration thereof pursuant to this sentence had never
occurred. The provisions of this Section 8.2 shall not be construed as to limit
or restrict in any way the Committee's general authority under Sections 7.5
hereof to Accelerate Options in whole or in part at any time. Each outstanding
Option that is assumed in connection with a Change of Control, or is otherwise
to continue in effect subsequent to a Change of Control, will be appropriately
adjusted, immediately after the Change of Control, as to the number and class of
securities and the price at which it may be exercised in accordance with Section
8.1.

     8.3. DISSOLUTION OR LIQUIDATION. Upon dissolution or liquidation of the
Company, each outstanding Option shall terminate, but the Optionee (if at the
time he or she is a board member of the Company or any of its Affiliates) shall
have the right, immediately prior to such dissolution or liquidation, to
exercise the Option to the extent exercisable on the date of such dissolution or
liquidation.

     8.4. RELATED MATTERS. Any adjustment in Options made pursuant to this
Section 8 shall be determined and made, if at all, by the Committee and shall
include any correlative modification of terms, including exercise prices, rates
of vesting or exercisability which the Committee may deem necessary or
appropriate so as to ensure that the rights of the Holders in their respective
Options are not substantially diminished nor enlarged as a result of the
adjustment and corporate action other than as expressly contemplated in this
Section 8. No fraction of a share shall be purchasable or deliverable upon
exercise, but in the event any adjustment hereunder of the number of shares
covered by an Option shall cause such number to include a fraction of a share,
such number of shares shall be adjusted to the nearest smaller whole number of
shares. No adjustment of an Option exercise price per share pursuant to this
Section 8 shall result in an exercise price which is less than the par value of
the Common Stock.

9.   SETTLEMENT OF OPTIONS

     9.1. VIOLATION OF LAW. Notwithstanding any other provision of the Plan or
the relevant Option Agreement, if, at any time, in the reasonable opinion of the
Company, the issuance of shares of Common Stock covered by an Option may
constitute a violation of law, then the Company may delay such issuance and the
delivery of a certificate for such shares until (i) approval shall have been
obtained from such governmental agencies, other than the Securities and Exchange
Commission, as may be required under any applicable law, rule, or regulation and
(ii) in the case where such issuance would constitute a violation of a law
administered by or a regulation of the Securities and Exchange Commission, one
of the following conditions shall have been satisfied:

          (a) the shares are at the time of the issue of such shares
effectively registered under the Securities Act; or

          (b) the Company shall have determined, on such basis as it deems
appropriate (including an opinion of counsel in form and substance satisfactory
to the Company) that the sale, transfer, assignment, pledge, encumbrance or
other disposition of

                                       10
<Page>

such shares or such beneficial interest, as the case may be, does not require
registration under the Securities Act or any applicable state securities laws.

     9.2. CORPORATE RESTRICTIONS ON RIGHTS IN STOCK. Any Common Stock to be
issued pursuant to Options granted under the Plan shall be subject to all
restrictions upon the transfer thereof which may be now or hereafter imposed by
the Certificate of Incorporation and the By-laws of the Company, each as amended
and in effect from time to time. Whenever Common Stock is to be issued pursuant
to an Option, if the Committee so directs at the time of grant (or, if such
Option is an Option, at any time prior to the exercise thereof), the Company
shall be under no obligation, notwithstanding any other provision of the Plan or
the relevant Option Agreement to the contrary, to issue such shares until such
time, if ever, as the recipient of the Option (and any person who exercises any
Option, in whole or in part), shall have become a party to and bound by any
agreement that the Committee shall require in its sole discretion. In addition,
any Common Stock to be issued pursuant to Options granted under the Plan shall
be subject to all stop-transfer orders and other restrictions as the Committee
may deem advisable under the rules, regulations and other requirements of any
stock exchange upon which the Common Stock is then listed, and any applicable
federal or state securities laws, and the Committee may cause a legend or
legends to be put on any such certificates to make appropriate reference to such
restrictions.

     9.3. INVESTMENT REPRESENTATIONS. The Company shall be under no obligation
to issue any shares covered by an Option unless the shares to be issued pursuant
to Options granted under the Plan have been effectively registered under the
Securities Act or the Holder shall have made such written representations to the
Company (upon which the Company believes it may reasonably rely) as the Company
may deem necessary or appropriate for purposes of confirming that the issuance
of such shares will be exempt from the registration requirements of that Act and
any applicable state securities laws and otherwise in compliance with all
applicable laws, rules and regulations, including but not limited to that the
Holder is acquiring shares for his or her own account for the purpose of
investment and not with a view to, or for sale in connection with, the
distribution of any such shares.

     9.4. REGISTRATION. If the Company shall deem it necessary or desirable to
register under the Securities Act or other applicable statutes any shares of
Common Stock issued or to be issued pursuant to Options granted under the Plan,
or to qualify any such shares of Common Stock for exemption from the Securities
Act or other applicable statutes, then the Company shall take such action at its
own expense. The Company may require from each recipient of an Option, or each
holder of shares of Common Stock acquired pursuant to the Plan, such information
in writing for use in any registration statement, prospectus, preliminary
prospectus or offering circular as is reasonably necessary for such purpose and
may require reasonable indemnity to the Company and its officers and directors
from such holder against all losses, claims, damage and liabilities arising from
such use of the information so furnished and caused by any untrue statement of
any material fact therein or caused by the omission to state a material fact
required to

                                       11
<Page>

be stated therein or necessary to make the statements therein not misleading in
the light of the circumstances under which they were made.

     9.5. LOCK-UP. Without the prior written consent of the Company or the
managing underwriter in any public offering of shares of Common Stock, no Holder
shall sell, make any short sale of, loan, grant any option for the purchase of,
pledge or otherwise encumber, or otherwise dispose of, any shares of Common
Stock during the one hundred-eighty (180) day period commencing on the effective
date of the registration statement relating to any underwritten public offering
of securities of the Company. The foregoing restrictions are intended and shall
be construed so as to preclude any Holder from engaging in any hedging or other
transaction that is designed to or reasonably could be expected to lead to or
result in, a sale or disposition of any shares of Common Stock during such
period even if such shares of Common Stock are or would be disposed of by
someone other than such Holder. Such prohibited hedging or other transactions
would include, without limitation, any short sale (whether or not against the
box) or any purchase, sale or grant of any right (including without limitation
any put or call option) with respect to any shares of Common Stock or with
respect to any security that includes, relates to, or derives any significant
part of its value from any shares of Common Stock. Without limiting the
generality and applicability of the foregoing provisions of this Section 9.5,
if, in connection with any underwritten public offering of securities of the
Company, the managing underwriter of such offering requires that the Company's
directors and officers enter into a lock-up agreement, then (a) each Holder
(regardless of whether or not such Holder has complied or complies with the
provisions of clause (b) below) shall be bound by, and shall be deemed to have
agreed to, the same lock-up terms as those to which the Company's directors and
officers are required to adhere; and (b) at the request of the Company or such
managing underwriter, each Holders shall execute and deliver a lock-up agreement
in form and substance equivalent to that which is required to be executed by the
Company's directors and officers.

     9.6. PLACEMENT OF LEGENDS; STOP ORDERS; ETC. Each share of Common Stock to
be issued pursuant to Options granted under the Plan may bear a reference to the
investment representations made in accordance with Section 9.3 in addition to
any other applicable restrictions under the Plan, the terms of the Option and,
if applicable, under any agreement between the Company and the Optionee and/or
Holder, and to the fact that no registration statement has been filed with the
Securities and Exchange Commission in respect to such shares of Common Stock.
All certificates for shares of Common Stock or other securities delivered under
the Plan shall be subject to such stock transfer orders and other restrictions
as the Committee may deem advisable under the rules, regulations, and other
requirements of any stock exchange upon which the Common Stock is then listed,
and any applicable federal or state securities law, and the Committee may cause
a legend or legends to be placed on any such certificates to make appropriate
reference to such restrictions.

     9.7. TAX WITHHOLDING. Whenever shares of Common Stock are issued or to be
issued pursuant to Options granted under the Plan, the Company shall have the
right to require the recipient to remit to the Company an amount sufficient to
satisfy federal,

                                       12
<Page>

state, local or other withholding tax requirements if, when, and to the extent
required by law (whether so required to secure for the Company an otherwise
available tax deduction or otherwise) prior to the delivery of any certificate
or certificates for such shares. The obligations of the Company under the Plan
shall be conditional on satisfaction of all such withholding obligations and the
Company shall, to the extent permitted by law, have the right to deduct any such
taxes from any payment of any kind otherwise due to the recipient of an Option.
However, in such cases Holders may elect, subject to the approval of the
Committee, acting in its sole discretion, to satisfy an applicable withholding
requirement, in whole or in part, by having the Company withhold shares to
satisfy their tax obligations. Holders may only elect to have shares of Common
Stock withheld having a Market Value on the date the tax is to be determined
equal to the minimum statutory total tax which could be imposed on the
transaction. All elections shall be irrevocable, made in writing, signed by the
Holder, and shall be subject to any restrictions or limitations that the
Committee deems appropriate.

10.  RESERVATION OF STOCK

     The Company shall at all times during the term of the Plan and any
outstanding Options granted hereunder reserve or otherwise keep available such
number of shares of Common Stock as will be sufficient to satisfy the
requirements of the Plan (if then in effect) and such Options and shall pay all
fees and expenses necessarily incurred by the Company in connection therewith.

11.  NO SPECIAL SERVICE RIGHTS

     Nothing contained in the Plan or in any Option Agreement shall confer upon
any recipient of an Option any right with respect to any consulting or Board
member relationship or other association with the Company (or any Affiliate), or
interfere in any way with the right of the Company (or any Affiliate), subject
to the terms of any separate agreement or provision of law or corporate articles
or by-laws to the contrary, at any time to terminate Board member or to increase
or decrease, or otherwise adjust, the other terms and conditions of the
recipient's Board member relationship or other association with the Company and
its Affiliates.

12.  NONEXCLUSIVITY OF THE PLAN

     Neither the adoption of the Plan by the Board nor the submission of the
Plan to the stockholders of the Company shall be construed as creating any
limitations on the power of the Board to adopt such other incentive arrangements
as it may deem desirable, including without limitation, the granting of stock
options and restricted stock other than under the Plan, and such arrangements
may be either applicable generally or only in specific cases.

13.  TERMINATION AND AMENDMENT OF THE PLAN

     The Board may at any time terminate the Plan or make such amendments or
modifications of the Plan as it shall deem advisable. In the event of the
termination of the

                                       13
<Page>

Plan, the terms of the Plan shall survive any such termination with respect to
any Option that is outstanding on the date of such termination, unless the
holder of such Option agrees in writing to terminate such Option or to terminate
all or any of the provisions of the Plan that apply to such Option. Unless the
Board otherwise expressly provides, any amendment or modification of the Plan
shall affect the terms of any Option outstanding on the date of such amendment
or modification as well as the terms of any Option made prior to, or from and
after, the date of such amendment or modification; PROVIDED, HOWEVER, that,
except to the extent otherwise provided in the last sentence of this paragraph,
(i) no amendment or modification of the Plan shall apply to any Option that is
outstanding on the date of such amendment or modification if such amendment or
modification would reduce the number of shares subject to such Option, increase
the purchase price applicable to shares subject to such Option or materially
adversely affect the provisions applicable to such Option that relate to the
vesting or exercisability of such Option or of the shares subject to such
Option, and (iii) no amendment or modification of the Plan shall apply to any
Option that is outstanding on the date of such amendment or modification unless
such amendment or modification of the Plan shall also apply to all other Options
outstanding on the date of such amendment or modification. In the event of any
amendment or modification of the Plan that is described in clause (i) or (ii) of
the foregoing proviso, such amendment or modification of the Plan shall apply to
any Option outstanding on the date of such amendment or modification only if the
recipient of such Option consents in writing thereto.

     The Committee may amend or modify, prospectively or retroactively, the
terms of any outstanding Option without amending or modifying the terms of the
Plan itself, PROVIDED THAT as amended or modified such Option is consistent with
the terms of the Plan as in effect at the time of the amendment or modification
of such Option, but no such amendment or modification of such Option shall,
without the written consent of the recipient of such Option, reduce the number
of shares subject to such Option, increase the purchase price applicable to
shares subject to such Option, adversely affect the provisions applicable to
such Option that relate to the vesting or exercisability of such Option or of
the shares subject to such Option, or otherwise materially adversely affect the
terms of such Option (except for amendments or modifications to the terms of
such Option or of the stock subject to such Option that are expressly permitted
by the terms of the Plan or that result from any amendment or modification of
the Plan in accordance with the provisions of the first paragraph of this
Section 13). The Committee is expressly authorized to amend any or all
outstanding Options to effect a repricing thereof by lowering the purchase price
applicable to the shares of Common Stock subject to such Option or Options
without the approval of the stockholders of the Company or the Holder or Holders
of such Option or Options, and, notwithstanding any of the foregoing provisions
of this paragraph to the contrary, in connection with such repricing to amend or
modify any of the other terms of the Option or Options so repriced, including,
without limitation, for purposes of reducing the number of shares subject to
such Option or Options or for purposes of adversely affecting the provisions
applicable to such Option or Options that relate to the vesting or
exercisability thereof, in each case without the approval of stockholders of the
Company or the Holder or Holders of such Option or Options.

                                       14
<Page>

     In addition, notwithstanding anything express or implied in any of the
foregoing provisions of this Section 13 to the contrary, the Committee may amend
or modify, prospectively or retroactively, the terms of any outstanding Option
to the extent the Committee reasonably determines necessary or appropriate to
conform such Option to the requirements of Section 409A of the Code (concerning
non-qualified deferred compensation), if applicable.

14.  INTERPRETATION OF THE PLAN

     In the event of any conflict between the provisions of this Plan and the
provisions of any applicable Option Agreement, the provisions of this Plan shall
control, except if and to the extent that the conflicting provision in such
Option Agreement was authorized and approved by the Committee at the time of the
grant of the Option evidenced by such Option Agreement or is ratified by the
Committee at any time subsequent to the grant of such Option, in which case the
conflicting provision in such Option Agreement shall control. Without limiting
the generality of the foregoing provisions of this Section 14, insofar as
possible the provisions of the Plan and such Option Agreement shall be construed
so as to give full force and effect to all such provisions. In the event of any
conflict between the provisions of this Plan and the provisions of any other
agreement between the Company and the Holder, the provisions of such agreement
shall control, but insofar as possible the provisions of the Plan and any such
agreement shall be construed so as to give full force and effect to all such
provisions.

15.  NOTICES AND OTHER COMMUNICATIONS

     Any notice, demand, request or other communication hereunder to any party
shall be deemed to be sufficient if contained in a written instrument delivered
in person or duly sent by first class registered, certified or overnight mail,
postage prepaid, or telecopied with a confirmation copy by regular, certified or
overnight mail, addressed or telecopied, as the case may be, (i) if to the
recipient of an Option, at his or her residence address last filed with the
Company and (ii) if to the Company, at its principal place of business,
addressed to the attention of its Chief Executive Officer, or to such other
address or telecopier number, as the case may be, as the addressee may have
designated by notice to the addressor. All such notices, requests, demands and
other communications shall be deemed to have been received: (i) in the case of
personal delivery, on the date of such delivery; (ii) in the case of mailing,
when received by the addressee; and (iii) in the case of facsimile transmission,
when confirmed by facsimile machine report.

                                       15
<Page>

16.  GOVERNING LAW

     The Plan and all Option Agreements and actions taken thereunder shall be
governed, interpreted and enforced in accordance with the laws of The
Commonwealth of Massachusetts, without regard to the conflict of laws principles
thereof.

17.  EFFECTIVENESS OF PLAN

     This 2006 Director Option Plan was approved on September 19, 2006 by the
Board and September 19, 2006 by the stockholders of the Company, and shall take
effect only upon the consummation of the Company's initial public offering of
its Common Stock.Filed by Automated Filing Services Inc. (604) 609-0244 - Flomo Resources Inc. - Exhibit 10.1

ASSET PURCHASE AGREEMENT

THIS AGREEMENT dated the 21st day of August
2006.

BETWEEN:

JAMES LAIRD 

(The “Vendor”)

OF THE FIRST PART 

AND: 

FLOMO RESOURCES INC.

(The “Purchaser”)

OF THE SECOND PART

WHEREAS:

A. The Vendor is the registered and beneficial owner of various
mineral claims (hereinafter the “Claims”), collectively called JEWEL
GOLD-SILVER COPPER PROPERTY. The Claims of the Vendor are more particularly
described in Schedule “A” attached hereto and forming part of this
Agreement;

B. The Vendor has agreed to sell and the Purchaser has agreed
to purchase all of the Claims of the Vendor in accordance with the terms of this
Agreement.

NOW THEREFORE THIS AGREEMENT WITNESSES that in
consideration of the terms and covenants herein and other good and valuable
consideration, the receipt and sufficiency of which each party acknowledges, the
parties hereto agree as follows:

1. PURCHASE AND SALE OF ASSETS

1.1 Sale of Assets. Subject to the terms and conditions
of this Agreement, the Vendor hereby sells, assigns and transfers to the
Purchaser, and the Purchaser hereby purchases the Vendor’s Claims.

1.2 Purchase Price. The purchase price payable by the
Purchaser to the Vendor for the Vendor’s Claims is USD $ 20,000 (the
“Purchase Price”). If applicable, subject to a carried 3% Net Smelter
Royalty as described in Appendix “A”.

1.3 Payment of the Purchase Price. The Purchase Price
will be paid by the delivery of a cheque.

1.4 Delivery of Claims. The Vendor delivers to the
Purchaser, on execution hereof, all of the Claims unconditionally and free and
clear of all liens, charges, or encumbrances, except where disclosed.

2. COVENANTS OF THE PARTIES

2.1 Covenants. The parties undertake to keep the
information with respect to this Agreement, the terms herein, and any related,
underlying or subsequent agreements (the “Information”) confidential and
not to directly or indirectly disclose the Information at any time to any person
or persons or use the Information for any purpose whatsoever.

3. REPRESENTATIONS OF THE VENDOR

3.1 Representations. The Vendor represents and warrants
to the Purchaser as follows, with the intent that the Purchaser will rely on the
representations in entering into this Agreement, and in concluding the purchase
and sale contemplated by this Agreement:

	 	(a) 	
      Capacity to Sell. The Vendor is James Laird,
      having the power and capacity to own and dispose of the Claims, and to
      enter into this Agreement and carry out its terms to the full
    extent;

	 	 	 
	 	(b) 	
      Authority to Sell. The execution and delivery of
      this Agreement, and the completion of the transaction contemplated by this
      Agreement has been duly and validly authorized by all necessary corporate
      action on the part of the Vendor, and this Agreement constitutes a legal,
      valid and binding obligation of the Vendor enforceable against the Vendor
      in accordance with its terms except as may be limited by laws of general
      application affecting the rights of creditors;

	 	 	 
	 	(c) 	
      Sale Will Not Cause Default. Neither the execution
      and delivery of this Agreement, nor the completion of the purchase and
      sale contemplated by this Agreement will:

	 	(i) 	
      violate any of the terms and provisions of the constating
      documents or bylaws or articles of the Vendor, or any order, decree,
      statute, bylaw, regulation, covenant, restriction applicable to the Vendor
      or the Claims;

	 	 	 
	 	(ii) 	
      give any person the right to terminate, cancel or
      otherwise deal with the Claims; or

	 	(iii) 	
      result in any fees, duties, taxes, assessments or other
      amounts relating to the Claims becoming due or payable other than tax
      payable by the Purchaser in connection with the purchase and
  sale;

	 	(d) 	
      Encumbrances. The Vendor owns and possesses and
      has a good marketable title to the Claims free and clear of all legal
      claims, mortgages, liens, charges, pledges, security interest,
      encumbrances or other claims, except where as disclosed;

	 	 	 
	 	(e) 	
      Litigation. There is no litigation or
      administrative or governmental proceeding or inquiry pending or, to the
      knowledge of the Vendor, threatened against or relating to the Claims, nor
      does the Vendor know of or have reasonable grounds that there is any basis
      for any such action, proceeding or inquiry;

	 	 	 
	 	(f) 	
      No Defaults. Except as otherwise expressly
      disclosed in this Agreement there has not been any default in any
      obligation to be performed under any of the Claims, which are in good
      standing and in full force and appropriate effect; and

	 	 	 
	 	(g) 	
      Good Standing. Prior to closing this Agreement,
      the Vendor will maintain, as required, the Claims in good
  standing.

4. COVENANTS OF THE VENDOR

4.1 Procure Consents. The Vendor will diligently and
expeditiously take all reasonable steps requested by the Purchaser to obtain all
necessary consents to effect the transfer of the Claims.

4.2 Covenant of Indemnity. The Vendor will indemnify and
hold harmless the Purchaser from and against:

	 	(a) 	
      any and all liabilities, whether accrued, absolute,
      contingent or otherwise, existing at closing and which are not agreed to
      be assumed by the Purchaser under this Agreement;

	 	 	 
	 	(b) 	
      any and all losses, claims, damages and costs incurred or
      suffered by the Purchaser arising out of the breach or inaccuracy of any
      representation or warranty of the Vendor contained in this Agreement;
      and

	 	 	 
	 	(c) 	
      any and all actions, suits, proceedings, demands,
      assessments, judgments, costs and legal and other expenses incident to any
      of the foregoing.

4.3 Execution of all necessary documents. The Vendor
will execute all necessary documents including such assignments as the Purchaser
may require to effect the transfer of all of the Claims, including but not
limited to, internet contracts and internet names.

5. REPRESENTATIONS OF THE PURCHASER

5.1 Representations. The Purchaser represents and
warrants to the Vendor as follows, with the intent that the Vendor will rely on
these representations and warranties in entering into this Agreement, and in
concluding the purchase and sale contemplated by this Agreement:

	 	(a) 	
      Status of Purchaser. The Purchaser is a
      corporation duly incorporated, validly existing and in good standing and
      has the power and capacity to enter into this Agreement and carry out its
      terms; and

	 	 	 
	 	(b) 	
      Authority to Purchase. The execution and delivery
      of this Agreement and the completion of the transaction contemplated by
      this Agreement has been duly and validly authorized by all necessary
      corporate action on the part of the Purchaser, and this Agreement
      constitutes a legal, valid and binding obligation of the Purchaser
      enforceable against the Purchaser in accordance with its terms except as
      limited by laws of general application affecting the rights of
      creditors.

6. COVENANTS OF THE PURCHASER

6.1 Consents. The Purchaser will at the request of the
Vendor execute and deliver such applications for consent and such assumption
agreements, and provide such information as may be necessary to obtain the
consents referred to in paragraph 4.1 and will assist and cooperate with the
Vendor in obtaining the consents.

6.2 Execution of all necessary documents. The Purchaser
will execute all necessary documents as the Vendor may require to effect the
transfer of all of the Claims.

7. SURVIVAL OF REPRESENTATIONS AND
COVENANTS

7.1 Vendor's Representations and Covenants. All
representations, covenants and agreements made by the Vendor in this Agreement
or under this Agreement will, unless otherwise expressly stated, survive closing
and any investigation at any time made by or on behalf of the Purchaser will
continue in full force and effect for the benefit of the Purchaser.

7.2 Purchaser’s Representations and Covenants. All
representations, covenants and agreements made by the Purchaser in this
Agreement or under this Agreement will, unless otherwise expressly stated,
survive closing and any investigation at any time made 

by or on behalf of the Vendor and will continue in full force
and effect for the benefit of the Vendor.

8. LIABILITIES NOT ASSUMED

8.1 Liabilities Not Assumed. The Purchaser will not
assume any liabilities of the Vendor. The Purchaser will not be responsible for
any liability of the Vendor, past, present or future, relating to the Claims,
and the Vendor will indemnify and save harmless the Purchaser from and against
any such claim.

9. CONDITIONS PRECEDENT TO THE OBLIGATIONS OF
THE PURCHASER

9.1 Conditions. All obligations of the Purchaser under
this Agreement are subject to the fulfillment of the following conditions:

	 	(a) 	
      Vendor's Representations. The Vendor’s
      representations contained in this Agreement will be true.

	 	 	 
	 	(b) 	
      Vendor’s Covenants. The Vendor will have performed
      and complied with all agreements, covenants and conditions as required by
      this Agreement.

	 	 	 
	 	(c) 	
      Consents. The Purchaser will have received duly
      executed copies of the consents or approvals referred to in paragraph
      4.1.

9.2 Exclusive Benefit. The foregoing conditions are for
the exclusive benefit of the Purchaser and any such condition may be waived in
whole or in part by the Purchaser delivering to the Vendor a written waiver to
that effect signed by the Purchaser.

10. CONDITIONS PRECEDENT TO THE OBLIGATIONS OF THE
VENDOR

10.1 Conditions. All obligations of the Vendor under
this Agreement are subject to the fulfillment of the following conditions:

	 	(a) 	
      Purchaser's Representations. The Purchaser’s
      representations contained in this Agreement will be true.

	 	 	 
	 	(b) 	
      Purchaser’s Covenants. The Purchaser will have
      performed and complied with all covenants, agreements and conditions as
      required by this Agreement.

	 	 	 
	 	(c) 	
      Consents of Third Parties. All consents or
      approvals required to be obtained by the Vendor for the purpose of
      selling, assigning or transferring the Claims have been obtained, provided
      that this condition may only be

relied upon by the Vendor if the Vendor has diligently exercised its best efforts to procure all such consents or approvals and the Purchaser has not waived the need for all such consents or approvals.

10.2 Exclusive Benefit. The foregoing conditions are for the exclusive benefit of the Vendor and any such condition may be waived in whole or in part by the Vendor delivering to the Purchaser a written waiver to that effect signed by the
Vendor.

11. GENERAL

11.1 Governing Law. This Agreement and each of the documents contemplated by or delivered under or in connection with this Agreement are governed exclusively by, and are to be enforced, construed and interpreted exclusively in accordance with
the laws of British Columbia which will be deemed to be the proper law of the Agreement.

11.2 Professional Fees. Each of the parties will bear the fees and disbursements of their respective lawyers, advisers and consultants engaged by them respectively in connection with the transactions contemplated by this Agreement prior to
the closing.

11.3 Assignment. No party will assign this Agreement, or any part of this Agreement, without the prior written consent of the other party. Any purported assignment without the required consent is not binding or enforceable against any
party.

11.4 Enurement. This Agreement enures to the benefit of and binds the parties and their respective successors and permitted assigns.

11.5 Notice. All notices required or permitted to be given under this Agreement will be in writing and personally delivered to the address of the intended recipient set out on the first page of this Agreement or at such other address as may
from time to time be notified by any of the parties in the manner provided in this Agreement.

11.6 Further Assurances. The parties will execute and deliver all further documents and take all further action reasonably necessary or appropriate to give effect to the provisions and intent of this Agreement and to complete the transactions
contemplated by this Agreement.

11.7 Remedies Cumulative.  The rights and remedies under this Agreement are cumulative and are in addition to and not in substitution for any other rights and remedies available at law or in equity or otherwise. Any party to this Agreement
may terminate this Agreement if any other party is in breach of or defaults under any material term or condition of this Agreement or has made a material misrepresentation in this Agreement. No single or partial exercise by a party of 

any right or remedy precludes or otherwise affects the exercise
of any other right or remedy to which that party may be entitled.

11.8 Entire Agreement. This Agreement constitutes the
entire agreement between the parties and there are no representations, express
or implied, statutory or otherwise and no collateral agreements other than as
expressly set out or referred to in this Agreement.

11.9 Headings. The division of this Agreement into
sections and the insertion of headings are for convenience only and do not form
part of this Agreement and will not be used to interpret, define or limit the
scope, extent or intent of this Agreement.

11.10 Severability. Each provision of this Agreement is
severable. If any provision of this Agreement is or becomes illegal, invalid or
unenforceable, the illegality, invalidity or unenforceability of that provision
will not affect the legality, validity or enforceability of the remaining
provisions of this Agreement.

11.11 Schedules. The Schedules attached hereto form an
integral part of this Agreement.

11.12 Time of the Essence. Time will be of the essence
of this Agreement.

11.13 Counterparts. This Agreement and all documents
contemplated by or delivered in connection with this Agreement may be executed
and delivered by facsimile or original and in any number of counterparts, and
each executed counterpart will be considered to be an original. All executed
counterparts taken together will constitute one agreement.

IN WITNESS WHEREOF the parties have duly executed this
Agreement by their duly authorized officers effective the first day and year
written above.

VENDOR: JAMES LAIRD

per: /s/ James Laird

PURCHASER: JASON GIN

per: /s/ Jason Gin

SCHEDULE “A”

THIS IS SCHEDULE “A” to the Asset
Purchase Agreement.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00110-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00110-of-00352.parquet"}]]