Document:

Unassociated Document

    Rule 10b5-1
      Stock Purchase Plan

    

          This
      Rule 10b5-1 Stock Purchase Plan (this “Purchase Plan”), is entered into on
      ___________, 2008 by and between Daewoo Securities Co., Ltd. (the “Broker”),
      Korea Milestone Acquisition Corporation, a Cayman Islands company (the
“Company”) and Sang-Chul Kim (the
      “Purchaser”).

     

    WHEREAS,
      Purchaser desires to establish a plan that qualifies for the affirmative defense
      and safe harbor provided by Rule 10b5-1 (“Rule 10b5-1”) under the
      Securities Exchange Act of 1934, as amended (the “Exchange Act”) to purchase
      warrants to purchase ordinary shares (the “Warrants”), of the Company, as
      described in the Company’s Registration Statement on Form F-1 relating to the
      initial public offering of the Company (the “IPO”). 

         

    WHEREAS,
      Purchaser desires to engage Broker as its exclusive agent to purchase Warrants
      on its behalf in accordance with this Purchase Plan; 

         

    WHEREAS,
      Purchaser has established or, prior to effecting transactions under this
      Purchase Plan will establish, an account (the “Account”) with Broker by
      executing an account agreement and all other necessary ancillary documents
      with
      Broker; and 

         

    NOW,
      THEREFORE,
      Broker,
      the Company and Purchaser hereby agree as follows: 

    

    1.     Engagement
      of Broker

     

          During
      the term of this Purchase Plan, Broker shall act as Purchaser’ exclusive agent
      to purchase Warrants pursuant to this Purchase Plan. Subject to the terms and
      conditions set forth herein, Broker hereby accepts such appointment and
      engagement. 

    

    2.     Trading
      Instructions 

    

           (a)     Broker
      is authorized to begin purchasing up to 5,000,000 Warrants (and up to an
      additional 375,000 Warrants in the event and to the extent that Broadband
      Capital Management LLC, representative of the underwriters of the Company’s IPO
      (the “Underwriter”) exercises its over-allotment option) as agent for Purchaser
      as set forth herein pursuant to this Purchase Plan on the later of (i) the
      date
      separate trading of the Warrants commences (“Separation Date”) and (ii) 60
      calendar days after termination of the “restricted period” in connection with
      the Company’s IPO under Regulation M under the Securities Exchange Act of 1934,
      as amended (the “Commencement Date”). Broker shall cease purchasing Warrants on
      the Termination Date (as defined below). The period beginning on the
      Commencement Date and ending on the Termination Date is referred to herein
      as
      the “Plan Period”. 

     

           (b)     In
      accordance with Broker’s customary procedures, Broker will deposit Warrants
      purchased hereunder into the Account against payment to Broker of the purchase
      price therefor and commissions and other fees in respect thereof. 

    

           (c)     Broker
      will notify Purchaser of all transactions executed under this Purchase Plan
      pursuant to customary trade confirmations, which shall be provided within 24
      hours of each transaction to Purchaser, SoftForum Building, 8th Floor, 545-7
      Dogokdong, Gangnam, Seoul, Korea, 135-170, Attn: Sang-Chul Kim, by facsimile
      at
      (82) (2) 2177-9696 and confirmed by telephone at (82) (2) 575-0466, with a
      copy
      to Kenneth R. Koch at Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C.,
      666
      Third Avenue, New York, New York 10017.

    

           (d)     (i)     On
      each day on which the NASDAQ Stock Market (the “Exchange”) is open for trading
      (each, a “Business Day”), Broker shall use commercially reasonable efforts to
      purchase, as agent and for the account of Purchaser, up to 5,000,000
      Warrants (and up to 5,375,000 Warrants in the event and to the extent that
      the
      Underwriter exercises its over-allotment option) at a price of $2.00 per
      Warrant. 

     

                    (ii)     Purchaser shall
      pay to Broker a commission of $0.03 per Warrant so purchased. 

         

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    (e)     Broker
      will make, keep and produce promptly upon request a daily time-sequenced
      schedule of all Warrant purchases made under this Purchase Plan, on a
      transaction-by-transaction basis, including (i) size, time of execution and
      price of purchase; and (ii) the exchange, quotation system, or other
      facility through which the Warrant purchase occurred, which obligations are
      set
      forth under the heading “Daily Time-Sequenced Schedule Obligations” on
Appendix
      A
      hereto.

    

           (f)     Purchaser
      agrees that this Purchase Plan constitutes an irrevocable “good till cancel”
limit order to purchase Warrants at $2.00 per Warrant pursuant to the terms
      of
      this Purchase Plan.

    

    3.     Funding
      of Account

    

    Purchaser
      shall maintain an Account of no less than $10,750,000 to fund the purchase
      of
      the Warrants. Purchaser
      agrees to fund the Account fully on or before the Effective Date of the
      Company’s Registration Statement on Form F-1 in connection with the IPO.
Other than for purposes of making Warrant purchases, no funds may be
      withdrawn from the Account prior to the Termination Date. Upon
      the
      earlier to occur of 46 days after the Effective Date or upon notification from
      the Underwriter that the over-allotment option will not be exercised for more
      than 375,000 Units, the
      Broker shall return to Purchaser an amount equal to (x) $2.00 multiplied by
      (y)
      the difference between 375,000 and the actual number of Warrants issued by
      the
      Company upon exercise of the over-allotment option.

    

    4. Broker’s
      Discretion to Deviate from Trading Instructions 

         

    (a)     Subject
      to the Warrant Purchase Guidelines and other terms and conditions set forth
      in
      this Purchase Plan, Broker shall have full discretion with respect to the
      execution of all purchases, and Purchaser acknowledges and agrees that Purchaser
      does not have, and shall not attempt to exercise, any influence over how, when
      or whether to effect such purchases of Warrants pursuant to this Purchase Plan.
      

           

    (b)     Notwithstanding
      any provision herein to the contrary, including the provisions of Section
      2(d)(i), in the event that, on any Business Day, in the opinion of Broker’s
      counsel, effecting purchases hereunder would result in a violation of applicable
      law or a breach of any contract to which Broker or its affiliates are a party
      or
      by which it or its affiliates are bound or such purchases would result in a
      violation of applicable law by Purchaser (collectively, “Restrictions”), Broker
      may refrain from purchasing Warrants or purchase fewer than the otherwise
      applicable number of Warrants to be purchased set forth in the Warrant Purchase
      Guidelines, as determined by Broker, in its discretion with regard to such
      Restrictions, provided,
      however,
      that as
      soon as such Restrictions are no longer in effect, Broker shall resume effecting
      purchases hereunder. In this connection, Broker may receive a notice from the
      Company indicating that Regulation M precludes purchases for a period of time
      and Broker shall suspend purchasing once it has received such a notice until
      such time as it receives an additional notice from the Company to the effect
      that such Restrictions under Regulation M have terminated.

    

    5.     Termination
      Date 

         

    This
      Purchase Plan shall terminate upon the Termination Date. “Termination Date”
means the earliest of: 

         

    (a)     the
      date that is fifteen (15) months after the consummation of the IPO;

     

    (b)    
the
      date of the consummation
      of the Company's initial business combination;

         

    (c)     the
      date on which the Purchaser purchases 5,000,000 Warrants (or 5,375,000 Warrants
      in the event and to the extent that the Underwriter exercises its over-allotment
      option) pursuant to this Agreement; or

         

    (d)     the
      date that Broker receives notice that Purchaser has filed a petition for
      bankruptcy or reorganization, or a petition for bankruptcy has been filed
      against Purchaser and has not been dismissed within sixty (60) calendar
      days of its filing.

              

    If
      Broker
      determines that any event specified in Paragraphs (a), (b), (c) or (d) of
      this Section 5 has occurred, Broker shall promptly notify Purchaser that
      this Purchase Plan has terminated pursuant to the terms of this Section 5
      and the date of such termination. 

    

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

    6.     Representations,
      Warranties and Covenants 

         

    (a)     From
      the date hereof until the Termination Date, each of the Company and Purchaser
      agrees not to discuss with Broker the Company’s and/or a potential target
      company’s (a “Target”) business, operations or prospects or any other
      information likely to be related to the value of the Warrants or likely to
      influence a decision to buy Warrants. Notwithstanding the preceding sentence,
      with the approval of counsel to Broker, Purchaser and the Company may
      communicate with Broker personnel who are not responsible for, and have no
      ability to influence, the execution of this Purchase Plan. Notwithstanding
      the
      first sentence in this paragraph, the Company and Purchaser shall jointly
      provide Broker with written notification of (i) the Commencement Date, and
      (ii) the mailing of a proxy or other solicitation materials to shareholders
      of the Target with respect to a vote on the business combination or any fact
      that would make purchases under this Purchase Plan unlawful pursuant to
      Regulation M or otherwise, as soon as such fact is known to the Company or
      Purchaser. 

        

    (b)     
      Purchaser represents and warrants to Broker that it has duly authorized this
      Purchase Plan and the transactions contemplated hereby. 

         

    (c)     
      Purchaser agrees that it will not, and the Company agrees with Broker that
      neither it nor any “affiliated purchaser” as defined in Rule 10b-18 will,
      make any purchases of blocks as described in the proviso in
      Rule 10b-18(b)(4) during the four full calendar weeks immediately preceding
      the Commencement Date. 

         

    (d)     
      Purchaser represents and warrants to Broker that it is not aware of any
      material, nonpublic information concerning the Company or its securities
      (“Material, Nonpublic Information”) and is entering into this Purchase Plan in
      good faith and not as part of a plan or scheme to evade the prohibitions of
      Rule 10b5-1. 

         

    (e)     Broker
      represents and warrants to the Company and Purchaser that it has implemented
      reasonable policies and procedures, taking into consideration the nature of
      Broker’s business, to ensure that individuals making investment decisions will
      not violate the laws prohibiting trading on the basis of Material, Nonpublic
      Information. These policies and procedures include those that restrict any
      purchase or sale, or the causing of any purchase or sale, of any security as
      to
      which Broker has Material, Nonpublic Information, as well as those that prevent
      such individuals from becoming aware of or being in possession of Material,
      Nonpublic Information. 

         

    (f)     From
      the date hereof until the Termination Date, Purchaser agrees not to enter into
      any hedging transaction with respect to any Warrants.  

         

    (g)     Each
      of the Company and Purchaser agrees that, during the period from the
      Commencement Date to the date falling that number of days following the
      Termination Date equal to the “restricted period” applicable to the Company, it
      will not engage in any “distribution” with respect to which the Warrants are a
“covered security” (as such terms are defined in Regulation M) or any other
      activity that would prohibit the purchase of Warrants by Broker. 

         

    (h)     Each
      of the Company and Purchaser represents and warrants that as of the time of
      execution of this Purchase Plan, it has not entered into any similar plan or
      agreement with respect to Warrants or any security or interest convertible
      into
      or exchangeable for Warrants. Each of the Company and Purchaser agrees that
      without the prior written consent of Broker, it shall not, during the Plan
      Period, directly or indirectly (including, without limitation, by means of
      a
      cash-settled or other derivative instrument) purchase, offer to purchase, place
      any bid or limit order that would effect a purchase of, any Warrants (or an
      equivalent interest, including a unit of beneficial interest in a trust or
      limited partnership or a depository share), or any security convertible into
      or
      exchangeable for Warrants. 

         

    (i)     Each
      of the Company and Purchaser agrees to inform Broker (i) of any purchases
      made during the Plan Period by an “affiliated purchaser” as defined in
      Rule 10b-18 promptly upon becoming aware of such purchases and (ii) if
      any “affiliated purchaser” intends to make any such purchases, promptly upon
      being informed of such intention. 

    

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

     

    7.     Compliance
      with the Securities Laws 

           

    (a)     It
      is the intent of the parties that this Purchase Plan comply with the
      requirements of Rule 10b5-1(c)(1)(i)(B), and the parties agree that this
      Purchase Plan shall be interpreted to comply with the requirements of
      Rule 10b5-1(c). 

         

    (b)     Broker
      agrees that the purchases of Warrants under this Purchase Plan shall comply
      with
      all applicable US federal securities laws. 

    

    8.     Indemnification 

          

    (a)     Purchaser
      agrees to indemnify and hold harmless Broker (and its directors, officers,
      employees and affiliates) from and against all claims, liabilities, losses,
      damages and expenses (including reasonable attorney’s fees and costs) arising
      out of or attributable to (i) any material breach by the Company or
      Purchaser of this Purchase Plan (including the Company’s and Purchaser’
representations and warranties), and (ii) any violation by the Company or
      Purchaser of applicable laws or regulations with respect to the transactions
      contemplated by this Purchase Plan. This indemnification will survive the
      termination of this Purchase Plan. Purchaser will have no indemnification
      obligations hereunder in the case of gross negligence or willful misconduct
      of
      Broker or any other indemnified person or if Broker fails to comply with Section
      7(b) hereof (unless such failure arises out of or is attributable to a breach
      by
      the Company or Purchaser of its representations, warranties or obligations
      hereunder), as determined by a final, non-appealable judgment of a court of
      competent jurisdiction. 

         

    (b)     Notwithstanding
      any other provision herein, no party hereto will be liable to the other for
      (i) special, indirect, punitive, exemplary, or consequential damages, or
      incidental losses or damages of any kind, including but not limited to lost
      profits, lost savings, loss of use of facility or equipment, regardless of
      whether arising from breach of contract, warranty, tort, strict liability or
      otherwise, and even if advised of the possibility of such losses or damages
      or
      if such losses or damages could have been reasonably foreseen, or (ii) any
      failure to perform or for any delay in performance that results from a cause
      or
      circumstance that is beyond its reasonable control, including but not limited
      to
      failure of electronic or mechanical equipment, strikes, failure of common
      carrier or utility systems, severe weather, market disruptions or other causes
      commonly known as “acts of God”. 

         

    (c)     The
      Company and Purchaser acknowledge and agree that Broker has not provided the
      Company or Purchaser with any tax, accounting or legal advice with respect
      to
      this Purchase Plan, including whether Purchaser would be entitled to any of
      the
      affirmative defenses under Rule 10b5-1. 

    

    9.     General 

         

    (a)     This
      Purchase Plan (including any Appendices, Annexes or Exhibits) constitutes the
      entire agreement between the parties hereto with respect to the subject matter
      hereof, and supersedes any previous or contemporaneous agreements,
      understandings, proposals or promises with respect thereto, whether written
      or
      oral. 

         

    (b)     This
      Purchase Plan will be governed by, and construed in accordance with, the laws
      of
      the State of New York, without regard to such State’s conflict of laws rules.

         

    (c)     This
      Purchase Plan and each party’s rights and obligations hereunder may not be
      assigned or delegated without the written permission of the other party and
      shall inure to the benefit of each party’s successors and permitted assigns,
      whether by merger, consolidation or otherwise. 

         

    (d)     This
      Purchase Plan may be executed in two or more counterparts and by facsimile
      signature. 

    

    

    (Remainder
      of Page intentionally left blank. Signature page(s) to follow)

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

    IN
      WITNESS WHEREOF,
      the
      undersigned have signed this Purchase Plan as of the date first written
      above.

             

    
      	 	 	 
	 	DAEWOO
              SECURITIES CO., LTD.
	 
 	 
 	 
 
	 	By:  	 
	 	
              
Name:
              Kim, Sung-Tae
Title:
              President and Chief Executive Officer   
	 	 

    

      

    
      	 	 	 
	 	KOREA
              MILESTONE ACQUISITION CORPORATION
	 
 	 
 	 
 
	 	By:  	 
	 	
              

              Name:   

              Title:

            
	 	 

    

     

    
      	 	 	 
	 	 
	 
 	 
 	 
 
	 	        
              	 
	 	
              
Sang-Chul
              Kim
	 	 

    

     

           

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

           

    APPENDIX
      A 

    

    

    Daily
      Time-Sequenced Schedule Obligations 

    
      	
               

            	
               

            	
               

            
	
              Obligor

            	
               

            	
              Obligation

            
	
              Broker
                

            	
               

            	
              Broker
                is to make, keep and produce promptly upon request a daily time-sequenced
                schedule of all Warrant purchases made under this Purchase Plan,
                on a
                transaction-by-transaction basis, including:

            
	
               
                

            	
               

            	
              •
                size, time of execution, price of purchase; and

            
	
               
                

            	
               

            	
              •
                the exchange, quotation system, or other facility through which the
                Warrant purchase occurred.

            

    

    

    All
      Warrant amounts and limit prices listed herein shall be increased or decreased
      to reflect stock

    splits
      should they occur. 

    
       

       

       

      6EXHIBIT
      10.1

    BIOMETRX,
      INC.

    

    AMENDED
      AND RESTATED

    2008
      EMPLOYEE/PROFESSIONAL/CONSULTANT STOCK

    COMPENSATION
      PLAN

    

    1.  Purpose.
      The
      purpose of this Plan is to provide compensation in the form of Common Stock
      of
      the Company to Eligible Recipients (as defined herein) that have previously
      rendered services or that will render services during the term of this Amended
      and Restated Employee/Professional/Consultant Stock Compensation Plan
      (hereinafter referred to as the Plan)

    

    2.  Administration.
      (a)  This Plan shall be administered by the Board of Directors who may
      from time to time issue orders or adopt resolutions, not inconstant with the
      provisions of this Plan, to interpret the provisions and supervise the
      administration of this Plan.  The President shall make initial
      determinations as to which employees, consultants, professionals or advisors
      (hereinafter referred to as “eligible recipients”) will be considered to receive
      shares under this Plan, in addition, will provide a list to the Board of
      Directors. All final determinations shall be by the affirmative vote of a
      majority of the members of the Board of Directors at a meeting called for such
      purpose, or reduced to writing and signed by a majority of the members of the
      Board. Subject to the Corporation's Bylaws,
      all  decisions  made  by  the  Directors  in  selecting  eligible  recipients,
      establishing the number of shares, and construing the provisions of this Plan
      shall be final, conclusive and binding on all persons including the Corporation,
      shareholders and Eligible Recipients.

    

    (b)  The
      Board of Directors may from time to time appoint a Stock Compensation Plan
      Committee, consisting of at least one Director and one officer, none of whom
      shall be eligible to participate in the Plan while members of the Committee.
      The
      Board of Directors may delegate to such Committee power to select the particular
      Eligible Recipients that are to receive shares, and to determine the number
      of
      shares to be allocated to each such Eligible Recipient.

    

    (c)
      If
      the SEC Rules and or regulations relating to the issuance of Common Stock under
      a Form S-8 should change during the terms of this Plan, the Board of Directors
      shall have the power to alter this Plan to conform to such changes.

    

    3.  Eligibility.  Shares
      shall be granted only to (Employees, Professionals and Consultants (“Eligible
      Recipients”) that are within that class for which Form S-8 is
      applicable.

    

    4.  Shares
      Subject to the Plan.  The
      total number of shares of Common Stock to be subject to this Plan is 7,500,000.
      The shares subject to the Plan will be registered with the SEC on or about
      March
      13, 2008 in a Form S-8 Registration. For each 12 month period during which
      the
      Plan is effective, the number of shares issued under the Plan shall be limited
      to 2,500,000.

    

    5.  Death
      of an Eligible Recipient. If
      an
      Eligible Recipient dies while he is an Employee, Professional or Consultant
      of
      the Corporation or of any subsidiary, or within 90 days after such termination,
      the shares, to the extent that the Eligible Recipient was to be issued shares
      under the plan, may be issued to his personal representative or the person
      or
      persons to whom his rights under the
      plan  shall  pass  by  his  will  or  by  the  applicable  laws  of  descent
      and distribution.

    
      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

    6.  Termination
      of Eligible Recipient, retirement or disability.  If
      an Eligible Recipient shall cease to be retained by the Corporation for any
      reason (including retirement and disability) other than death after he shall
      have continuously been so retained for his specified term, he may, but only
      within the three-month period immediately following such termination, request
      his pro-rata number of shares for his services already rendered.

    

    7.  Termination
      of the Plan.  This
      Plan shall terminate upon the issuance of all shares available under the Plan
      or
      otherwise terminated by the Board of Directors. .

    

    8.  Effective
      Date of the Plan.  This
      Plan shall become effective upon its adoption by the Board of
      Directors.

    

    CERTIFICATION
      OF ADOPTION

    (By
      the
      Board of Directors)

    

    The
      undersigned, being the President and Chairman of the Board of Directors of
      Biometrx, Inc. hereby certifies that the foregoing Plan was adopted by a
      unanimous vote of the Board of Directors on September 23, 2008.

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