Document:

Exhibit 10.30

 

CONFIDENTIAL SETTLEMENT AGREEMENT

This Confidential Settlement Agreement (the “Settlement Agreement”) is entered into as of March 31, 2018 by and among VerifyMe, Inc., a Nevada corporation (the “Company”),  Laurence J. Blickman (“Blickman”) Paul F. Klapper (“Klapper”), Stephen H. Silver, individually and as Trustee of the Stephen H. Silver Revocable Trust (“Silver”), PFK Development Group, Ltd. (“PFKD”), PFK Acquisition Group II, LLC (“PFKA”), Clydesdale Partners, LLC (“Clydesdale”), and Clydesdale Partners II, LLC (“Clydesdale II” and, together with PFKA and Clydesdale, the “Funds”) (the “Parties” and each individually a “Party”).

 

WHEREAS, the Company and PFKD have entered into that certain Revenue Sharing Agreement, dated September 1, 2014 and attached hereto as Schedule 1 (the “Klapper Revenue Sharing Agreement”);

 

WHEREAS, the Company and Stephen H. Silver have entered into that certain Revenue Sharing Agreement, dated September 1, 2014 and attached hereto as Schedule 2 (the “Silver Revenue Sharing Agreement” and, together with the Klapper Revenue Sharing Agreement, the “Revenue Sharing Agreements”);

 

WHEREAS, pursuant to the Revenue Sharing Agreements, the Company agreed to pay to each of PFKD and Silver a 5% commission arising from certain revenue the Company may generate in the future;

 

WHEREAS, pursuant to loans made by certain parties, the Company agreed to issue Klapper and/or the Funds warrants to purchase up to Three Million Seven Hundred Thousand (3,700,000) shares of the Company’s common stock, par value $0.001 (“Common Stock”) at an exercise price of $0.40 per share (the “Warrants”);

 

WHEREAS, the Warrants have not been issued;

 

WHEREAS, Blickman is a director of the Company and an investor in the Funds; and

 

WHERAS, disputes have arisen as to whether Klapper agreed to cancel the Warrants in exchange for valid consideration and whether the Revenue Sharing Agreements were issued in accordance with applicable laws.

 

NOW, THEREFORE, in consideration of the foregoing and the mutual promises set forth below, the sufficiency of which is hereby acknowledged, the Parties agree as follows:

 

1.          Effective Date.  The Effective Date of this Settlement Agreement will be the date this Settlement Agreement is executed by all the Parties.

 

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2.          Termination of Revenue Sharing Agreements; Cancellation of Warrants.  The Revenue Sharing Agreements shall be terminated, and the Warrants shall be cancelled, in full as of the Effective Date without any liability to the Company.

 

3.          Settlement Terms.  On the Effective Date, the Company shall pay Five Hundred Thousand Dollars ($500,000) (the “Settlement Amount”) to PFKD and Silver and issue them One Million (1,000,000) shares of Common Stock (the “Settlement Shares”).  The Settlement Amount shall be paid in accordance with the instructions set forth on Schedule 3 attached hereto and the Settlement Shares shall be issued on the Effective Date by delivery in accordance with Schedule 3.  In connection with the issuance of the Settlement Shares, on the Effective Date, the Company, Clydesdale and Silver shall execute a Stock Purchase Agreement and the Company, the Funds and Silver shall execute a Registration Rights Agreement in the forms attached hereto as Exhibits A and B with respect to the Settlement Shares.

 

4.          Registration of Shares. Pursuant to the Registration Rights Agreement, the Company will file a registration statement on Form S-1 (the “Registration Statement”) with the Securities and Exchange Commission on or before the earlier of (i) fifteen (15) days following the filing of the Company’s Annual Report on Form 10-K (which includes Part III) for the fiscal year ended December 31, 2017, or (ii) April 30, 2018, and use commercially reasonable efforts to register the Settlement Shares, the shares of Common Stock listed on Schedule 4 attached hereto as having been purchased less than twelve (12) months ago, and the other shares of Common Stock listed on Schedule 4 that will be distributed by the Funds to their investors pursuant to Section 6 below.

 

5.          Confirmation of Currently Owned Stock and Warrants.  The Parties hereby agree that, immediately prior to the Effective Date, the shares of Common Stock and the warrants and options to purchase shares of the Common Stock (excluding the Warrants, as defined above) owned by Klapper, PFKD, the Funds, Silver and members of Silver’s family are as set forth on Schedule 4 attached hereto. Within ten (10) days after the Effective Date, the Company will: (a) issue any previously unissued or incorrectly issued shares, warrants or options as set forth on Schedule 4, including, without limitation, all shares issuable upon the exercise of such warrants and options that are exercised prior to the Effective Date, with all such shares that are no longer subject to the Rule 144 holding period being issued as unlegended shares, and (b) subject to delivery of the share certificates to the Company’s stock transfer agent, cause the stock transfer agent to replace the certificates for all outstanding shares listed on Schedule 4 that are no longer subject to the Rule 144 holding period with unlegended certificates for such shares (or otherwise remove the legend from such certificates).  For the purposes of this Section 5, shares are not subject to the Rule 144 holding period (i) twelve (12) months after payment in the case of a person who is not (and has not for the past three months been) an affiliate of the Company, or (ii) three (3) months after a person ceases to be a director of the Company.

 

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6.            Distribution of Common Stock and Warrants.  Within ten (10) days after the Effective Date, each of the Funds shall take the necessary steps to distribute all of the shares of the Common Stock (including any Settlement Shares held by such Fund, other than 166,667 Settlement Shares that will first be transferred to an unrelated third party), and all of the warrants to purchase shares of the Common Stock, held by such Fund to such Fund’s investors, pro rata in accordance with the amounts of such investors’ respective investments in such Fund, and direct the Company to reissue such shares and warrants in the names of such investors.  Such distribution and direction shall be effected by means of the letters attached hereto as Exhibit C.  The Company shall promptly transfer such shares and warrants to such investors at the Company’s sole expense, subject for each Fund investor to providing a taxpayer identification number and other reasonable information requested by the transfer agent of the Company.

 

7.           Board of Directors.  As of the Effective Date, Klapper will resign from the Company’s Board of Directors.  In conjunction with Klapper’s resignation, the Company will issue a press release thanking him for his service on the Company’s Board of Directors and announcing the amicable settlement of all prior disputes between Klapper and the Company.

 

8.            Mutual Releases. As of the Effective Date, each of the Parties and the other signatories thereto shall sign the General Release in the form attached to this Settlement Agreement as Exhibit D.

 

9.            Blickman Investments. By signing this Settlement Agreement, Klapper and each of the respective Funds acknowledges that Blickman, directly or indirectly, owns the membership interests in the Funds set forth on Schedule 5 attached hereto.

 

10.          No Admission of Wrongdoing.  The Parties deny that they engaged in any wrongdoing, breached any contract, or violated any applicable duty or rule (statutorily, common law, or otherwise) in connection with the matters contemplated in this Settlement Agreement.  Nothing in this Settlement Agreement shall be construed as an admission by any of the Parties of any fault, wrongdoing or liability whatsoever.  Neither this Settlement Agreement, nor any of its terms, shall be offered by any of the Parties in evidence in any arbitral, civil, criminal, administrative, or other proceeding as a concession or admission of fault, wrongdoing or liability.  Nothing in this Section 10, however, shall prevent any Party from using or offering this Settlement Agreement in evidence in any proceeding to enforce and/or effectuate the terms of this Settlement Agreement.

 

11.          Governing Law/Jurisdiction.  This Settlement Agreement and any dispute arising out of or relating to this Settlement Agreement shall in all respects be governed by and construed in accordance with the laws of the State of Nevada, without regard to any rules or principles governing conflicts of laws.  The Parties hereby irrevocably submit to the exclusive jurisdiction of the courts of the State of Nevada for any dispute arising out of or relating to this Settlement Agreement, and agree that any action to enforce the terms of this Settlement Agreement shall be brought in the courts of the State of Nevada, Clark County, or in the United States District Court for the District of Nevada.

 

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12.          Representation by Counsel/Independent Review: The Parties warrant that they have the requisite experience and sophistication to understand, interpret, and agree to the particular language of the provisions hereof.  In addition, the Parties warrant that they were each fully advised by counsel with respect to its rights and obligations and with respect to the execution of this Settlement Agreement.

 

13.          Interpretation. In the event of an ambiguity in or dispute regarding the interpretation of this Settlement Agreement, the interpretation of this Settlement Agreement shall not be resolved by any rule of interpretation providing for interpretation against the party who causes the uncertainty or against the draftsman, and all Parties expressly agree that in the event of an ambiguity in or dispute regarding the interpretation of this Settlement Agreement, this Settlement Agreement will be interpreted as if each Party participated equally in the drafting.  No Party may offer in evidence or otherwise use, for purposes of suggesting any interpretation of this Settlement Agreement, any prior drafts of this Settlement Agreement.

 

14.          Entire Agreement.  This Settlement Agreement, together with the Schedules and Exhibits hereto, constitutes the entire understanding and agreement among the Parties with respect to the matters addressed herein, and supersedes any prior written or oral agreements, representations, warranties or statements.  No other representations, covenants, undertakings, or prior or contemporaneous agreements or understandings, oral or written, regarding such matters which are not specifically contained or incorporated herein by reference shall be deemed in any way to bind the Parties except as set forth in this Settlement Agreement and the Schedules and Exhibits hereto. To the extent that there is any inconsistence or ambiguity between the terms of any of the Exhibits and this Settlement Agreement, the terms of this Settlement Agreement shall prevail.

 

15.          Attorneys’ Fees. Except as otherwise expressly provided herein, the Parties shall bear their own attorneys’ fees and costs. In the event any action is instituted with respect to or arising out of this Settlement Agreement, the prevailing Party shall be entitled to an award of reasonable attorneys’ fees and costs, including expert fees and costs.

 

16.          Binding Effect.  This Settlement Agreement shall be binding upon, and inure to the benefit of, all Parties, their successors and assigns.  Except as set forth in any of the Exhibits hereto, this Settlement Agreement is not intended, and shall not be construed, to create rights in or confer benefits to any other persons, and there shall not be any third-party beneficiaries thereto.

 

17.          Severability. The provisions of this Settlement Agreement are severable.  Should any provision be found to be invalid, unlawful or unenforceable by a court of competent jurisdiction, the remaining terms and provisions of this Settlement Agreement shall remain in full force and effect.  If any provision of this Settlement Agreement is held to be invalid, unlawful or unenforceable by a court of competent jurisdiction, that provision shall be replaced by a valid and enforceable substitute provision that carries out, as closely as possible, the intentions of the Parties under this Settlement Agreement.

 

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18.          Amendment/Modification.  This Settlement Agreement may be modified only by a writing which expressly refers to this Settlement Agreement and is signed by or on behalf of all Parties.

 

19.          Counterparts; Facsimile.  This Settlement Agreement may be executed in any number of counterparts and such counterparts may be delivered by facsimile, email or other electronic means.  Each such counterpart shall be deemed an original, and all of the counterparts together shall constitute one and the same instrument.

 

20.          Headings.  The headings used herein are included for convenience of reference only and shall be ignored in the construction or interpretation of this Settlement Agreement.

 

21.          Warranty of Authority.  Each person executing this Settlement Agreement represents and warrants that he or she has full authority to sign this Settlement Agreement on behalf of the Party for which he or she is acting and that the Parties will thereby be fully bound by the terms of this Settlement Agreement.  The Parties specifically represent and warrant that they have not sold, assigned, transferred, conveyed or otherwise disposed of any claim, demand or action which is the subject of this Settlement Agreement.

 

22.          Waiver of Breach.  The Parties may not waive or vary any right hereunder except by an express written waiver or variation.   Any failure to exercise or any delay in exercising any such rights, or any partial or defective exercise of any such rights, shall not operate as a waiver or variation of that or any other such right.  The waiver by one Party of any breach of this Settlement Agreement by another Party shall not be deemed a waiver of any other prior or subsequent breach of this Settlement Agreement.

 

23.          Restricted Stock.  The Company acknowledges that, as of the date of this Settlement Agreement, three hundred thousand (300,000) shares of the Common Stock of the Company issued to Klapper as restricted shares for his services as a director of the Company are fully vested.

24.          Covenant to Remove Restrictive Legends.  In connection with requests by Klapper, Silver, the Funds or investors in the Funds to remove restrictive legends from restricted stock certificates held by any of these persons, the Company shall cause its counsel to promptly issue legal opinions necessary for the removal of such legends, subject to (i) the requirement that an exemption from registration exists under Rule 144 under the Securities Act of 1933 or another applicable provision of, or rule under, that Act, and  (ii) the requesting persons’ compliance with customary practices, including execution of a seller’s representation letter.

 

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IN WITNESS THEREOF, the Parties hereto knowingly and voluntarily executed this Settlement Agreement as of the date set forth above:

VERIFYME, INC.

By: ________________________

Its: ________________________

PAUL F. KLAPPER

___________________________

STEPHEN H. SILVER

___________________________

PFK DEVELOPMENT GROUP, LTD.

By: ________________________

Its: ________________________

PFK ACQUISITION GROUP II, LLC

By: _________________________

Its: _________________________

CLYDESDALE PARTNERS, LLC

By: _________________________

Its: _________________________

CLYDESDALE PARTNERS II, LLC

By: _________________________

Its: _________________________

 

 

6Exhibit 10.31

STOCK PURCHASE AGREEMENT

THIS STOCK PURCHASE AGREEMENT (the “Purchase Agreement”) is entered into as of this ____ day of _________, 2018 (the “Effective Date”) by and between the parties on the signature page to this Agreement (each, a “Purchaser”), and VerifyMe, Inc., a Nevada corporation (the “Company”) (collectively, the Purchasers and the Company are the “Parties”).

WHEREAS, the Company and the Purchaser are parties to that certain Confidential Settlement Agreement, dated the date of this Purchase Agreement (the “Settlement Agreement”);

WHEREAS, the Settlement Agreement provides among other things that the Company will issue to the Purchasers a total of 1,000,000 shares of common stock, $0.001 par value per share, of the Company (the “Settlement Shares”);

WHEREAS, the Settlement Agreement also provides that the Company and the Purchasers execute a Stock Purchase Agreement with respect to the issuance of the Settlement Shares;

NOW, THEREFORE, in consideration of the mutual promises contained herein, and for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Parties hereto agree as follows:

1.         Terms of Issuance.

1.1          The Company agrees to issue and offer to the Purchasers, and the Purchasers agree to accept, the number of Settlement Shares set forth on each Purchaser’s signature page.

1.2          The closing of the transactions contemplated by this Purchase Agreement (the “Closing”) shall take place by email simultaneously.  Prior to the Closing, the Company shall deliver to each Purchaser a copy of the issuance instructions to the Company’s transfer agent instructing the transfer agent to issue the Settlement Shares.

2.         Representations and Warranties of the Company.  As an inducement to the Purchasers to enter into this Purchase Agreement and consummate the transaction contemplated hereby, the Company hereby makes the following representations and warranties, each of which is true and correct in all material respects on the date hereof and will be true and correct in all material respects on the Closing date:

2.1          Organization.  The Company is a corporation duly organized, validly existing, and in good standing under the laws of the State of Nevada and is duly authorized to conduct business as currently conducted.

2.2          Authority.  The Company has full power and authority to execute and deliver this Purchase Agreement and to perform its obligations hereunder.  This Purchase Agreement constitutes the valid and legally binding obligation of the Company, enforceable in accordance with its terms. The execution, delivery, and performance of this Purchase Agreement and all other agreements contemplated hereby have been duly authorized by the Company.

 

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2.3          Non-Contravention.  The execution and delivery of this Purchase Agreement by the Company and the observance and performance of the terms and provisions contained herein do not constitute a violation or breach of any applicable law, or any provision of any other contract or instrument to which the Company is a party or by which it is bound, or any order, writ, injunction, decree, statute, rule, by-law or regulation applicable to the Company.

2.4          Litigation.  There are no actions, suits, or proceedings pending or, to the best of the Company’s knowledge, threatened, which could in any manner restrain or prevent the Company from effectually and legally selling the Settlement Shares pursuant to the terms and provisions of this Purchase Agreement.

2.5          Brokers’ Fees.  The Company has no liability or obligation to pay fees or commissions to any broker, finder, or agent with respect to the transactions contemplated by this Purchase Agreement.

2.6          Reporting Company.  The Company is a publicly-held company subject to reporting obligations pursuant to Section 13 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) and has a class of common stock registered pursuant to Section 12(g) of the Exchange Act.

2.7          SEC Reports.  The Company has filed with the Securities and Exchange Commission (the “SEC”) all reports required to be filed since January 1, 2017.  None of the reports filed with the SEC contained any material statements which were not true and correct or omitted to state any statements of material fact necessary in order to make the statements made not misleading.

2.8          Outstanding Securities.  All issued and outstanding shares of capital stock and equity interests in the Company have been duly authorized and validly issued and are fully paid and non-assessable.

2.9          No Material Adverse Change.  Since April 12, 2017 (filing date of the last Form 10-K), there has not been individually or in the aggregate a Material Adverse Change with respect to the Company. For the purposes of this Purchase Agreement, “Material Adverse Change” means any event, change or occurrence which, individually or together with any other event, change, or occurrence, could result in a material adverse change on the Company or material adverse change on its business, assets, financial condition, or results of operations. Provided, however, a Material Adverse Change does not exist solely because (i) there are changes in the economy, credit markets or capital markets, or (ii) changes generally affecting the industry in which the Company operates.

 

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3.         Representations and Warranties of the Purchasers.  As an inducement to the Company to enter into this Purchase Agreement and to consummate the transactions contemplated hereby, each Purchaser, severally and not jointly, hereby makes the following representations and warranties, each of which is true and correct in all material respects on the date hereof and will be true and correct in all material respects on the Closing date:

3.1          Authority.  Such Purchaser has full power and authority to execute and deliver this Purchase Agreement and to perform its obligations hereunder.  This Purchase Agreement constitutes the valid and legally binding obligation of such Purchaser, enforceable in accordance with its terms. The execution, delivery, and performance of this Purchase Agreement and all other agreements contemplated hereby have been duly authorized by such Purchaser.

3.2          Non-Contravention. The execution and delivery of this Purchase Agreement by such Purchaser and the observance and performance of the terms and provisions of this Purchase Agreement on the part of such Purchaser to be observed and performed will not constitute a violation of applicable law or any provision of any contract or other instrument to which such Purchaser is a party or by which it is bound, or any order, writ, injunction, decree statute, rule or regulation applicable to it.

3.3          Litigation There are no actions, suits, or proceedings pending or, to the best of such Purchaser’s knowledge, threatened, which could in any manner restrain or prevent such Purchaser from effectually and legally accepting the Settlement Shares pursuant to the terms and provisions of this Purchase Agreement.

3.4          Brokers’ Fees.  Such Purchaser has no liability or obligation to pay fees or commissions to any broker, finder, or agent with respect to the transactions contemplated by this Purchase Agreement.

3.5          Information.  Such Purchaser has relied solely on the reports of the Company filed with the SEC, other publicly available information and other written and electronic information prepared by the Company in making its decision to accept the Settlement Shares. The Purchasers acknowledge that the acquisition of the Settlement Shares entails a high degree of risk, including the risks highlighted in the risk factors contained in filings by the Company with the SEC including its annual report on Form 10-K for the year ended December 31, 2016, and the Risk Factors contained on Exhibit A. Such Purchaser represents that it has had an opportunity to ask questions and receive answers from the Company regarding the terms and conditions of this Purchase Agreement and the reasons for this offering, the business prospects of the Company, the risks attendant to the Company’s business, and the risks relating to an investment in the Company. Such Purchaser acknowledges the receipt (without exhibits) of or access to the reports filed with SEC at www.sec.gov which includes the Company’s reports referred to in this Section 3.5.

3.6          Investment.  Such Purchaser is acquiring the Settlement Shares for its own account for investment and not with a view to, or for sale in connection with, any distribution thereof, nor with any present intention of distribution or selling the same, and, except as contemplated by this Purchase Agreement, and has no present or contemplated agreement, undertaking, arrangement, obligation, indebtedness or commitment providing for the disposition thereof.  Such Purchaser understands that the Settlement Shares may not be sold, transferred or otherwise disposed of without registration under the Securities Act of 1933, as amended (the “Securities Act”) or an exemption therefrom, and that in the absence of an effective registration statement covering the Settlement Shares or an available exemption from registration under the Act, the Securities must be held indefinitely.

3.7          Restricted Securities.  Such Purchaser understands that the Settlement Shares have not been registered under the Securities Act and are offered in reliance on an exemption from registration under the Securities Act pursuant to Section 4(a)(2) thereof and Rule 506 thereunder and the Settlement Shares will bear a restrictive legend.

 

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3.8          Investment Experience.  Such Purchaser represents that it is an “accredited investor” within the meaning of the applicable rules and regulations promulgated under the Securities Act, for one of the reasons set forth on Exhibit B. Such Purchaser represents and acknowledges that (i) it is experienced in evaluating and investing in private placement transactions in similar circumstances, (ii) it has such knowledge and experience in financial, tax and business matters so as to enable it to utilize the information made available to it in connection with the offering of the Settlement Shares to evaluate the merits and risks of the investment in the Settlement Shares and to make an informed investment decision with respect thereto, (iii) it is able to bear the substantial economic risks of an investment the Settlement Shares for an indefinite period of time, and (iv) it has no need for liquidity in such investment, (v) it can afford a complete loss of such investment.

3.9          No General Solicitation.  The offer to issue the Settlement Shares was directly communicated to such Purchaser by the Company.  At no time was such Purchaser presented with or solicited advertisement, articles, notice or other communication published in any newspaper, television or radio or presented at any seminar or meeting, or any solicitation by a person not previously known to the undersigned in connection with the communicated offer.

4.         Survival of Representations and Warranties and Agreements.  All representations and warranties of the Parties contained in this Purchase Agreement shall survive the Closing.

5.         Indemnification.

5.1          Indemnification Provisions for Benefit of the Purchasers.  In the event the Company breaches any of its representations, warranties, and/or covenants contained herein, and provided that the Purchasers make a written claim for indemnification against the Company, then the Company agrees to indemnify the Purchasers from and against the entirety of any losses, damages, amounts paid in settlement of any claim or action, expenses, or fees including court costs and reasonable attorneys’ fees and expenses, in connection with such breach.

5.2          Indemnification Provisions for Benefit of the Company.  In the event either Purchaser breaches any of its representations, warranties, and/or covenants contained herein, and provided that the Company makes a written claim for indemnification against such Purchaser, then such Purchaser agrees to indemnify the Company from and against the entirety of any losses, damages, amounts paid in settlement of any claim or action, expenses, or fees including court costs and reasonable attorney’s fees and expenses, in connection with such breach.

 

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6.         Post-Closing Covenants. The Parties agree as follows with respect to the period following the Closing:

6.1          General.  In case at any time after the Closing any further action is necessary to carry out the purposes of this Purchase Agreement, the Company will take such further action (including the execution and delivery of such further instruments and documents) as the Purchasers reasonably may request, all at the sole cost and expense of the Company.

6.2          Inspection.  At all times upon reasonable notice, the Purchasers or their authorized representatives shall have the power to inspect the books and records including the books and records of account of the Company for any proper purpose.  As part of such inspection, the Purchasers and their authorized representatives may make such copies and extra sets of the Company’s books and records as it or they may reasonably request.  All of the foregoing rights are subject to the inspecting persons executing a confidentiality agreement.

6.3          Registration Rights.  The Company shall file with the SEC a registration statement on Form S-1 registering the Settlement Shares for public sale as provided for in a Registration Rights Agreement, a copy of which is attached as Exhibit C hereto.

7.         Expenses.  Except as otherwise provided in this Purchase Agreement or the Settlement Agreement, all Parties hereto shall pay their own expenses, including legal and accounting fees, in connection with the transactions contemplated herein. In the event any action is instituted with respect to or arising out of this Purchase Agreement, the prevailing party shall be entitled to an award of reasonable attorney’s fees and costs including expert fees and costs.

8.         Severability.  In the event any part of this Purchase Agreement is found to be void, the remaining provisions of this Purchase Agreement shall nevertheless be binding with the same effect as though the void parts were deleted.

9.         Counterparts.  This Purchase Agreement may be executed in one or more counterparts, each of which shall be deemed an original but all of which together shall constitute one and the same instrument.  The execution of this Purchase Agreement may be by actual or facsimile signature.

10.       Benefit.  This Purchase Agreement shall be binding upon and inure to the benefit of the parties hereto and their legal representatives, successors and assigns.  Nothing in this Purchase Agreement, express or implied, is intended to confer on any person other than the Parties or their respective heirs, successors and assigns any rights, remedies, obligations, or other liabilities under or by reason of this Purchase Agreement.

 

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11.       Notices and Addresses. All notices, offers, acceptance and any other acts under this Purchase Agreement shall be in writing, and shall be sufficiently given if delivered to the addressees in person, by FedEx or similar overnight next business day delivery, or by email followed by overnight next business day delivery, as follows:

	
If to the Company:

	
VerifyMe, Inc.

837 Lindy Lane

Bala Cynwyd, PA 19004

Telephone: (610) 688-1952

Attention: Chief Executive Officer

Email: ngardner@verifyme.com

With a copy (for informational purposes only) to:

 

Nason Yeager Gerson White & Lioce, P.A.,

3001 PGA Boulevard, Suite 305

Palm Beach Gardens, FL 33410

Telephone:  (561) 471-3507

 Attention: Michael D. Harris, Esq.

E-Mail: mharris@nasonyeager.com

	
If to the Purchaser:

	
The address set forth on the signature page attached hereto.

or to such other address as any of them, by notice to the other may designate from time to time.

12.       Governing Law / Jurisdiction.  This Purchase Agreement and any dispute, disagreement, or issue of construction or interpretation arising hereunder, whether relating to its execution, its validity, the obligations provided therein or performance, shall be governed or interpreted according to the laws of the State of Nevada, without regard to any rules or principles governing conflicts of laws.  The Parties hereby irrevocably submit to the exclusive jurisdiction of the courts of the State of Nevada for any dispute arising out of or relating to this Purchase Agreement, and agree that any action to enforce the terms of this Purchase Agreement shall be brought in the courts of the State of Nevada, Clark County, or in the United States District Court for the District of Nevada.

13.       Entire Agreement.  This Purchase Agreement constitutes the entire agreement between the Parties, and supersedes all prior oral and written agreements between the Parties, with respect to the subject matter hereof.

14.       Amendment. Neither this Purchase Agreement nor any provision hereof may be changed, waived, discharged or terminated orally, except by a statement in writing signed by the party or parties against whom enforcement of the change, waiver discharge or termination is sought.

15.       Assignment.  No Party hereto shall assign its rights or obligations under this Purchase Agreement without the prior written consent of the other Parties.

16.       Section Headings.  Section headings herein have been inserted for reference only and shall not be deemed to limit or otherwise affect, in any matter, or be deemed to interpret in whole or in part any of the terms or provisions of this Purchase Agreement.

[Signature Page Attached]

 

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IN WITNESS WHEREOF the parties hereto have set their hand and seals as of the above date.

 

	 	
VERIFYME, INC.:

	 	 	 
	 	 	 
	 	 	 
	 	
By:   

	  
	 	
Name:  

	
Patrick White

	 	
Title: 

	
Chief Executive Officer

 

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PURCHASER:

	 
	 	  	 	 
	 	  	 	 
	 	
By: 

	 	 	 
	 	 	 	 	 
	 	
By:   

	 	 	 
	 	
Name: [Print Name and Title]

	 
	 	  	 
	 	  	 
	 	  	 
	 	
Address:  

	 	  	 
	 	 	  	 
	 	 	 	 
	 	
Email:  

	 	 	 
	 	 	 	 
	 	
Tax ID of Purchaser:    

	 	 

 

 

 

Amount: five hundred thousand (500,000) shares.

 

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PURCHASER:

	 
	 	 	 	 
	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	
By:   

	 	 	 
	 	
Name: [Print Name and Title]

	 
	 	  	 
	 	  	 
	 	  	 
	 	
Address:  

	 	  	 
	 	 	  	 
	 	 	 	 
	 	
Email:  

	 	 	 
	 	 	 	 
	 	
Tax ID of Purchaser:    

	 	 

 

 

 

Amount: five hundred thousand (500,000) shares.

 

 

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