Document:

exh10-5.htm

Exhibit 10.5

 

 

MASTER M2M BUSINESS DEVELOPMENT AGREEMENT

 

Entered into in Montréal on January ___, 2011

 

 

	
BETWEEN:

	
IMETRIK GLOBAL INC, a corporation legally constituted having its principal place of business at 740, Notre-Dame Ouest, Bureau 1575, Montréal, Québec  H3C 3X6, Canada, represented by Guy Chevrette, its President, duly authorized for the purpose hereof as he so declares;

 

(hereinafter referred to as “Global”)

 

	
AND:

	
IMETRIK M2M SOLUTIONS, INC., a corporation legally constituted having its principal place of business at 1000 East William Street, Suite 204, Carson City, Nevada, 89701, USA, represented by Michel St-Pierre, its President, duly authorized for the purpose hereof as he so declares;

 

(hereinafter referred to as the “iMetrik”)

 

 

WHEREAS Global (previously known as iMetrik Solutions Inc.) has been developing and commercializing since 2005, Machine-to-Machine (“M2M”) applications, using a third party licensed software technological platform (the “IP-M2M Platform”) around which Global has built the necessary infrastructure to create a fully operational communication system (the “M2M Platform”) designed to efficiently develop, enable and provide M2M applications.

 

WHEREAS in addition to the IP-M2M Platform, the M2M Platform consists of electronic devices (the “Devices”) and a Core Network Infrastructure (the “Network”) that are connected through an existing mobile network operator (“MNO”) to provide the end-user customers with real time measuring and control over their assets.

 

WHEREAS Global has so far used the M2M Platform, through its subsidiary, iMetrik Automotive Solutions Inc., for mobile assets and mainly for the automotive industry.

 

WHEREAS iMetrik intends to develop stationary M2M solutions to provide its M2M customers with integral end to end solutions and become a leader in connection with stationary assets in industrial and/or personal market segments such as building arrangement, pumps, HVAC, lighting systems, power generator, vending machines, point of sale terminal, photocopier, information technology equipment, home surveillance and remote healthcare monitoring (the “Stationary M2M Solutions”).

 

  

  

  

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WHEREAS Global is positioning itself as a global mobile virtual network operator, known as MVNO, in the M2M sector and does not wish to develop the specific and various applications required to service the end users, but instead intend to concentrate its effort in the development of the generic global M2M Platform.

 

WHEREAS Global and iMetrik wish to become each other exclusive business partner to develop Stationary M2M Solutions.

 

WHEREAS Global wishes to provide iMetrik with the strength of the M2M Platform and to offer iMetrik with its full support to allow iMetrik to develop and implement highly value-added and efficient Stationary M2M Solutions for iMetrik’s own customers.

 

WHEREAS Global and iMetrik wish to collaborate in the development of the Stationary M2M Solutions, each with its respective expertise as MVNO and solution provider, the whole in accordance with the terms and conditions contained in this Agreement.

 

NOW, THEREFORE, THE PARTIES AGREE AS FOLLOWS:

 

 

	
1.  

	
Right to use the M2M Platform

 

	
1.1       

	
 Subject to compliance with all the terms and conditions of this Agreement, Global grants to iMetrik, and iMetrik hereby accepts from Global, the right to use the M2M Platform for the purposes of:

 

	
1.1.1     

	
developing end to end Stationary M2M Solutions for customers or their end users, as the case may be, including a royalty free license to use any application programmable interface (“API”) to be provided by Global to allow iMetrik the development of its own M2M software applications in relation to the Stationary M2M Solutions under the M2M Platform;

 

	
1.1.2     

	
marketing, licensing, selling and supporting worldwide end to end Stationary M2M Solutions for customers; and

 

	
1.1.3     

	
marketing, licensing and distributing worldwide end to end Stationary M2M Solutions to distributors who will then sub-license, sell and distribute such Stationary M2M Solutions to their own customers.

 

	
1.2       

	
 Subject to compliance with all the terms and conditions of this Agreement, the rights hereby granted to iMetrik shall be on an exclusive basis.

 

	
1.3       

	
The delivery of the Stationary M2M Solutions will be accomplished through a password-protected internet site hosted and maintained by iMetrik.

 

	
1.4       

	
In the delivery of the Stationary M2M Solutions to customers, iMetrik shall use the best practices applied in the industry to protect the intellectual property related to the M2M Platform.

 

 

	
2.  

	
Obligations of Global

 

	
2.1       

	
Global shall be responsible to define and/or adapt the M2M Platform using the Web based services to insure:

 

  

  

  

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·     

	
provisioning

 

	
·     

	
activation of Devices

 

	
·     

	
developing and manufacturing dedicated computer API with appropriate mobile network connectivity

 

	
·     

	
provide the Network to support the delivery of the Stationary M2M Solutions

 

	
·     

	
provide the information about network usage for revenue sharing purposes

 

	
·     

	
design generic embedded applications framework for the Devices, and obtain all the required certification for the Devices

 

	
·     

	
execute and maintain in good standing all the necessary agreements with MNOs

 

	
·     

	
provide iMetrik’s staff with all the training necessary to develop Stationary M2M Solutions and properly support iMetrik’s customers

 

	
·     

	
provide iMetrik with API so that iMetrik has full control to develop its specific software programs necessary for its Stationary M2M Solutions

 

 

	
3.  

	
Obligations of iMetrik

 

	
3.1  

	
iMetrik shall be responsible for the following :

 

	
·     

	
provide inputs to Global for typical Stationary M2M Solutions and identify areas for faster market penetration, so that iMetrik acquires a leadership position in the Stationary M2M Solutions

 

	
·     

	
define applications that align the product/service offering with M2M market requirements

 

	
·     

	
provide sales and professional services to M2M customers, as well as first level (tier-1) client support

 

	
·     

	
develop and finance all required software programs (including Web applications) necessary for the Stationary M2M Solutions

 

 

	
4.  

	
Confidentiality

 

Each party will maintain the Confidential Information of the other party in strict confidence and will exercise due care with respect to the handling and protection of such Confidential Information, consistent with its own policies concerning protection of its own Confidential Information of like importance.  Each party will use the Confidential Information of the other party only as expressly permitted herein, and will disclose such Confidential Information only to its employees, contractors and advisors as is reasonably required in connection with the exercise of its rights and obligations under this Agreement (and only subject to binding use and disclosure restrictions at least as protective as those set forth herein executed in writing by such employees,

 

  

  

  

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contractors and advisors).   In addition, the parties agree that the terms of this Agreement are confidential and shall be treated as Confidential Information in accordance with the terms hereof, except for any public disclosure requirement to which iMetrik is submitted. These confidentiality restrictions and obligations shall terminate five (5) years after the expiration or termination of this Agreement.

 

For the purpose of this Agreement, “Confidential Information” means any and all (i) technical and non-technical information including patent, trade secret and proprietary information, software, codes, formula, works, techniques, sketches, drawings, models, inventions, know-how, processes, apparatus, equipment and algorithms, (ii) information relating to costs, prices and names, finances, marketing plans, business opportunities, personnel, research, development or know-how; (iii) all non-public customer’s information and (iv) other materials Global and iMetrik provide to each other in the course of this Agreement that have been marked as confidential, whose confidential nature has been made known or that due to their character and nature, a reasonable person under like circumstances would treat as confidential.  Notwithstanding the foregoing, Confidential Information does not include information which: (i) is already known to the other party at the time of disclosure; (ii) is or becomes publicly known through no wrongful act of the other party; (iii) is independently developed without benefit of the other’s Confidential Information; or (iv) is received by or from a third party without restriction and without a breach of an obligation of confidentiality.

 

 

	
5.  

	
Source Code

 

Although this Agreement contemplates the delivery of API to iMetrik for the development of its own software, it may happen, for practical reasons, that certain portions of the source code related to any part of the M2M Platform (including the IP-M2M Platform) (the “Source Code”) be provided to iMetrik in order to facilitate the development of its own software for Stationary M2M Solutions, and in such circumstances, the following provisions shall apply:

 

	
5.1       

	
 iMetrik is granted a license to strictly use the Source Code for the exclusive development of software applications related to Stationary M2M Solutions and for no other purposes, and Global and its licensor shall retain full ownership of the Source Code at all times.

 

	
5.2       

	
 iMetrik shall make only as many copies of the Source Code as are strictly necessary for the purposes permitted under this Agreement.  Each electronic copy of the Source Code shall, if possible, be kept in a directory of a computer separate and apart from other programs and electronic material, the access to which directory shall be restricted.  iMetrik shall keep an up to date log of all copies made of the Source Code and shall include in the log the names of those employees having access to each copy.

 

	
5.3       

	
 iMetrik acknowledges that the Source Code is the valuable property of Global, is confidential to Global and has been treated by Global as confidential.

 

	
5.4       

	
Global shall grant iMetrik access to the Source Code for the purposes of producing modified object code to conform to the special needs of its customers, and for providing on-going customer support.  iMetrik agrees not to use the Source Code for any other purpose.

 

  

  

  

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5.5       

	
iMetrik agrees not to copy or otherwise make use of the Source Code or the structure, sequence or organization of the Source Code, or the information otherwise contained in the Source Code, except as shall be strictly necessary to provide customer support as permitted under this Agreement.

 

	
5.6       

	
iMetrik acknowledges that access to the Source Code shall be provided to employees of iMetrik on a “need to know” basis only.  Prior to permitting its employees access to the Source Code, iMetrik shall ensure that such employees shall sign an agreement acknowledging the confidential nature of the Source Code and agreeing to keep the Source Code confidential; that agreement shall further provide that such employees shall not copy or otherwise make use of the Source Code, the structure, sequence or organization of the Source Code, or the information otherwise contained in the Source Code, except as shall be strictly necessary to provide customer support as permitted under this Agreement.

 

	
5.7       

	
Upon expiry or termination of this Agreement or iMetrik being provided with the necessary API in replacement of the Source Code, iMetrik shall return to Global all copies of the Source Code and its related documentation in iMetrik’s possession, together with a sworn declaration of two of iMetrik’s officers or directors, stating that this Section 5.7 has been complied with. The sworn declaration shall include the log of all copies made of the Source Code.

 

	
5.8       

	
Each parties shall retain all rights, title and interest on its own intellectual property at all times.

 

 

	
6.  

	
Scope of the business relationship

 

	
6.1       

	
The core objective of this Agreement is to establish the business framework between Global and iMetrik so that each of them, in their own sphere of expertise, is in a position to take a leading position in the M2M market environment, which is anticipated to be fast growing over the next five years. Each of the parties is committed to put the necessary financial and operational resources to develop and grow the Stationary M2M Solutions.

 

	
6.2       

	
Global and iMetrik shall be each other exclusive business partners for the development of Stationary M2M Solutions. Therefore, both parties shall agree that any potential business related to Stationary M2M Solutions be submitted to this Agreement, subject to the provisions of sections 6.7 and 6.8.

 

	
6.3       

	
Each parties agrees that any new business opportunity in the Stationary M2M Solutions will be submitted to a Steering Committee with representatives of both parties that will be responsible to analyze such market opportunity, conduct any market study necessary to properly establish the size of the contemplated market and come up with a business case that is most susceptible to address the needs of all the parties involved, and including the end-user customers, the whole in accordance with the product/service development process put in place by Global.

 

	
6.4       

	
Each of the Stationary M2M Solutions will be evaluated by the Steering Committee and a fair split of the benefits will be agreed between Global and iMetrik on a case by case basis, and based on the operational costs and the capital investment associated with the delivery of the services by each of Global, as the

 

  

  

  

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provider of the M2M Platform, and iMetrik, as the provider of the Stationary M2M Solutions, including licensing and MNO fees, Network investment, service support and marketing.

 

	
6.5       

	
Each new Stationary M2M Solution brought to market will be identified in an addenda to this Agreement, executed by both parties, with all the specifications associated with it, including the agreed upon split of benefits.

 

	
6.6       

	
iMetrik shall be the owner of the clients using the Stationary M2M Solutions, Global remaining as a supplier of the M2M Platform to iMetrik

 

	
6.7       

	
Notwithstanding any other provision to this Agreement, to promote the connection of its Network to a specific MNO, Global will be allowed to let any such MNO develop its own Stationary M2M Solutions.

 

	
6.8       

	
In the event Global, through its subsidiaries, has clients in the mobile assets sector that require a complete offering combining mobile and fixed assets solutions, iMetrik agrees that Global shall be entitled to resale to its own clients the Stationary M2M Solutions developed by iMetrik and, failing to come to an agreement with iMetrik (iMetrik thereby becoming the supplier to Global) on that matter, Global (or its subsidiary) shall be entitled to develop its own Stationary M2M Solutions to service its own clients.

 

 

	
7.  

	
Steering Committee

 

	
7.1       

	
To facilitate the handling of all matters and questions in connection with the management of the business under this Agreement, including the decision to proceed with a new Stationary M2M Solution under this Agreement, which shall be approved by both parties as evidence by the execution of an addenda to this Agreement, and the general supervision of the relationship between Global and iMetrik, each of them appoints the following representative:

 

For Global:                    Guy Chevrette or any replacement appointed by him

 

For iMetrik:                   Michel St-Pierre or any replacement appointed by him

 

with full and complete authority to act on its behalf in relation to all matters in connection with or arising out of this Agreement and from time to time change its representative by notice in writing, and any decision of such representative shall be conclusively binding on such party.

 

	
7.2       

	
If a disagreement cannot be resolved by the representatives at the Steering Committee within fifteen (15) days after either representative has expressed in writing his disagreement to any unresolved matter submitted to the Steering Committee, then the representatives shall refer the matter to a neutral arbitrator appointed by them or, failing to agree on such appointment, by an arbitrator designated by a judge of the Superior Court in the judicial district of Montréal.  The decision of such arbitrator shall be final and binding on the parties hereto.

 

  

  

  

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8.  

	
Warranties

 

Global does not warrant that the M2M Platform will be error-free in all circumstances.  In the event of any defect or error covered by such warranty, iMetrik agrees to provide Global with sufficient detail to allow Global to reproduce the defect or error.  As iMetrik's exclusive remedy for any defect or error in the M2M Platform, and as Global's entire liability in contract, tort, or otherwise, Global will correct, within a commercially reasonable time, such error or defect at Global's facility by issuing corrected instructions, a restriction, or a bypass.  EXCEPT AS EXPRESSLY SET FORTH IN THIS PARAGRAPH, GLOBAL SHALL HAVE NO LIABILITY FOR THE M2M PLATFORM OR ANY SERVICES PROVIDED; GLOBAL MAKES AND iMetrik RECEIVES NO WARRANTIES, EXPRESS, IMPLIED, STATUTORY, OR IN ANY OTHER PROVISION OF THIS AGREEMENT OR ANY OTHER COMMUNICATION; AND GLOBAL SPECIFICALLY DISCLAIMS ANY WARRANTY OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE.

 

 

	
9.  

	
Limitation of liabilities

 

In no event shall either party nor their respective employees, officers and directors be liable for consequential, special, indirect, incidental, punitive or exemplary damages, costs, expenses, or losses (including, lost profits and opportunity costs). iMetrik agrees that Global, its employees, officers and directors shall not be liable to iMetrik for any actions, damages, claims, liabilities, costs expenses, or losses in any way arising out of or relating to this Agreement for an aggregate amount in excess of the fees paid by iMetrik to Global within the previous 6 months.  The provisions of this article shall apply regardless of the form of action, damage, claim, liability, cost, expense, or loss, whether in contract, statute, tort (including negligence) or otherwise.

 

 

	
10.  

	
Indemnification

 

iMetrik hereby agrees to indemnify, hold harmless and defend Global and any member, director, officer, employee or agent thereof, from and against all liabilities incurred by or asserted against Global or any of the above persons in connection with any third party claim to the extent such liabilities result from the use of the M2M Platform other than in accordance with applicable documentation or instructions supplied by Global; provided that Global shall (i) promptly notify iMetrik of any third party claim subject to indemnification hereunder, (ii) give iMetrik the right to control and direct the preparation of a defense, the defense and settlement of any such claim and (iii) give full cooperation to iMetrik for the defense of same.

 

 

	
11.  

	
Infringement

 

	
11.1      

	
Global hereby agrees to indemnify, hold harmless and defend iMetrik from and against any and all claims, liabilities, losses, expenses (including reasonable attorneys' fees), fines, penalties, taxes or damages (collectively "Liabilities") asserted against iMetrik by a third party to the extent such Liabilities result from the claim by a third party that the M2M Platform infringe upon such third party's trade secret, trademark, service mark, copyright or patent issued or in existence as of the date of this Agreement; provided, that iMetrik (i) promptly notifies Global of any third party claim subject to indemnification hereunder, (ii) gives Global the right to control and direct the preparation of a defence, the defence and settlement of any such claim, and (iii) gives full cooperation to Global for the

 

  

  

  

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defense of same.  The foregoing provisions shall not apply to any infringement arising out of (i) the use of the M2M Platform other than in accordance with applicable documentation or instructions supplied by Global; or (iv) the combination of the M2M Platform with materials not supplied or authorized by Global.  It is further understood that these indemnity obligations imposed upon Global shall be limited to the M2M Platform, and in no circumstances should these indemnity obligations extend to the specific use of the M2M Platform in the Stationary M2M Solutions.

 

	
11.2      

	
In case the M2M Platform or any portion thereof is held, or in Global’s reasonable opinion is likely to be held, in any such suit to constitute infringement of a third party’s intellectual property right, Global may within a reasonable time, at its option, either:  (i) secure for iMetrik the right to continue the use of such infringing item; or (ii) replace, at Global's sole expense, such item with a substantially equivalent non-infringing item or modify such item so that it becomes non-infringing.  In the event Global is, in Global’s reasonable discretion, unable to either procure the right to continued use of the allegedly infringing item or replace the allegedly infringing item as provided in this Section 11.2, the allegedly infringing item shall be returned to Global, and Global’s maximum liability for such infringement shall be to refund to iMetrik the amount paid to Global for such item.

 

	
11.3      

	
In the event that iMetrik provides Global with access to software, specifications, content or other iMetrik-provided materials, iMetrik hereby agrees to indemnify, hold harmless and defend Global from and against any and all Liabilities incurred by or asserted against Global in connection with any third party claim relating to the use by Global of the iMetrik materials, including, but not limited to, a third-party claim that the iMetrik materials infringe upon such third party’s trade secret, trademark, service mark, copyright, patent or other intellectual property rights

 

 

	
12.  

	
Term and Renewal

 

	
12.1      

	
The term of this Agreement will begin on date of signature and will continue for three (3) years, unless it is terminated earlier in accordance with the provisions hereof.

 

	
12.2      

	
This Agreement will continue for other periods of three (3) years each, unless terminated by iMetrik by written notice to Global at least 6 months prior to the expiry of the initial term or any subsequent term.

 

	
12.3      

	
Four months before the expiry of the initial term and each of the subsequent term, the parties agree to negotiate in good faith to adjust the terms and conditions of this Agreement in order to reasonably address the evolving conditions of the Stationary M2M Solutions, so that this Agreement remains viable for both parties. More particularly, at each such interval, parties shall evaluate the appropriateness to maintain exclusivity under this Agreement, based on the market share of iMetrik compared to the overall estimated market for Stationary M2M Solutions.

 

  

  

  

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12.4      

	
Upon the normal expiration of the initial term or any subsequent term, as applicable, iMetrik shall be entitled to continue to provide its existing customers with all the services attached to the Stationary M2M Solutions, for the entire term of the agreement entered into with each of those customers or as long as the Devices remain activated for each of those customers, the whole remaining subject to the terms and conditions of this Agreement.

 

 

	
13.  

	
Termination

 

	
13.1      

	
Either party may terminate this Agreement by written notice to the other party upon the occurrence of any of the following events: (i)the other party files a voluntary petition in bankruptcy or for similar relief; (ii) an involuntary petition in bankruptcy is filed against the other party and is not dismissed within ninety (90) days of filing; (iii) a receiver is appointed for the other party, and if involuntarily appointed is not dismissed within ninety (90) days; (iv) the other party makes an assignment for the benefit of creditors; (v) the other party ceases to do business or (vi) the other party fails to substantially comply with any material terms or conditions of this Agreement and fails to cure such default within sixty (60) days after receipt of written notice from the non-defaulting party specifying the nature of the default and stating an intent to terminate if such default is not cured within such time period. This right of termination shall be without prejudice to any other right or remedy available to the non-defaulting party.

 

	
13.2      

	
In the event of early termination of this Agreement by Global due to an event of default of iMetrik pursuant to Section 13.1, Global grants to iMetrik and its successors and legal representatives a six months non-exclusive non-transferable limited license for the sole purpose of supporting the Stationary M2M Solutions for the current customers at the termination date.  During this 6-month period all payments required to be paid to Global for its services hereunder shall be paid in full.

 

 

	
14.  

	
Governmental Compliance

 

iMetrik shall, at its expense, obtain any and all governmental approvals when and as such approvals may be required by the laws or regulations in connection with this Agreement, the use of the M2M Platform in regard of the Stationary M2M Solutions it develops, or any of iMetrik’s activities hereunder.  iMetrik shall comply with all laws, rules, regulations, orders, decrees, judgments and other governmental acts or other restrictions which may be imposed from time to time, of Canada, USA and any other country that may have jurisdiction over iMetrik, its activities hereunder the use of the M2M Platform.  Global and iMetrik each agrees to take such action and execute such documents as the other party may request to assist such party in complying with all applicable laws.

 

  

  

  

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15.  

	
Notices

 

All notices or other communications required to be given hereunder shall be in writing and delivered either personally or by mail, or electronic mail, certified, return receipt requested, postage prepaid, and addressed to the address first set forth below or as otherwise requested by the receiving Party:

 

To: Global:

 

iMETRIK GLOBAL INC.

740, Notre-Dame Ouest

Bureau 1575

Montréal, Québec

Canada H3C 3X6

Attention:  Mr. Guy Chevrette, Président

Email:  guy.chevrette@imetrik .com

To iMetrik:

 

iMETRIK M2M SOLUTIONS INC.

1000 East William Street

 Suite 204

 Carson City, Nevada

 89701, USA

Attention:  Mr. Michel St-Pierre , President

Email:  mstpierre@imetrikm2m.com

 

 

Notices delivered personally shall be effective upon delivery, and notices delivered by mail shall be effective upon their receipt by the Party to whom they are addressed.

 

 

	
16.  

	
Export Laws

 

This Agreement is subject to any governmental laws, orders or other restrictions on the export of software and related information and documentation that may be imposed by governmental authorities.  iMetrik shall comply with any governmental laws, orders or other restrictions on the export and re-export of software (including technical data and any related information and documentation) which may be imposed from time to time by the governments of Canada and any country to which any software is shipped.

 

 

	
17.  

	
Severability

 

In the event that any term or provision of this Agreement shall be held to be invalid, void or unenforceable, then the remainder of this Agreement shall not be affected, impaired or invalidated, and each such other term and provision of this Agreement shall be valid and enforceable to the fullest extent permitted by law.

 

  

  

  

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18.  

	
Assignment

 

This Agreement, or the rights hereunder, may not be assigned or otherwise transferred by iMetrik or Global, except to an affiliate, without the prior written approval of the other party, which approval shall not be unreasonably withheld; provided, however, that any merger or consolidation of iMetrik or Global, as the case may be, with or into another entity or the sale of all or substantially all of the iMetrik’s or Global’s, as the case may be, assets shall not be considered an assignment for purposes of this paragraph, unless such merger, consolidation or sale is to a direct competitor of Global.

 

 

	
19.  

	
Governing law, jurisdiction and venue

 

This Agreement will be governed and construed in accordance with the laws of the Province of Quebec. In the event that a dispute should arise with respect to this Agreement, jurisdiction and venues therefore shall lie with the courts of the Province of Quebec.

 

 

	
20.  

	
Independent contractors

 

It is understood and agreed that each of the parties hereto is an independent contractor and that neither party is, nor shall be considered to be, an agent, distributor, fiduciary or representative of the other.  Neither party shall act or represent itself, directly or by implication, as an agent of the other or in any manner assume or create any obligation on behalf of, or in the name of, the other.

 

 

	
21.  

	
Arbitration

 

Any controversy or claim arising out of or relating to this Agreement, or the breach thereof, other than any controversy or claim relating to a party's confidentiality obligations under this Agreement or where injunctive relief is explicitly provided for, will be settled by binding arbitration conducted before a single arbitrator agreed upon by the parties, who is knowledgeable in the technology and legal issues relating to software.  Should the parties fail to reach an agreement on the choice of the arbitrator within a period of fifteen (15) days following a written notice to that effect, such arbitrator shall be designated by a judge of the Superior Court in the judicial district of Montréal.  Aside from that, the arbitration shall be governed by the Articles 940 and following of Code of Civil Procedure of the Province of Québec as amended from time to time.  The place of arbitration should be in Montreal, Province of Québec, Canada.  The arbitration award shall be final and binding on the parties hereto.  In no event shall the arbitration award provide any remedy beyond those permitted under this Agreement and in any award providing a remedy beyond those permitted under this Agreement shall not be confirmed, no presumption of validity shall attach, and such award shall be vacated.

 

 

	
22.  

	
Non-solicitation of employees

 

Neither party shall, during the term of this Agreement and for one (1) year after its termination, solicit for hire as an employee, consultant or otherwise any of the other party's personnel who have had direct involvement with this Agreement, without such other party's express written consent.

 

  

  

  

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23.  

	
Waiver

 

Failure or delay by either party to enforce compliance with any term or condition of this Agreement shall not constitute a waiver of such term or condition.

 

 

	
24.  

	
Entire Agreement

 

This Agreement and all schedules hereto constitute the entire agreement between the parties with regard to the subject matter of this Agreement and supersede all previous communications, whether oral or written, between the parties with respect to such subject matter.  In the event of any conflict between the terms of this Agreement and the terms of any Schedules to this Agreement, the terms of such Agreement shall govern.  Neither the course of conduct between the parties nor trade usage shall modify or alter this Agreement.   No waiver or modification of any of the provisions hereof shall be binding unless in writing and signed by duly authorized representatives of Global and iMetrik.

 

 

	
25.  

	
Counterparts

 

This Agreement may be executed in as many counterparts as may be required, and all counterparts shall collectively constitute a single Agreement.  A facsimile or other legally sufficient signature of or on behalf of one or more of the parties hereto shall be deemed an original signature for all purposes.

 

 

IN WITNESS WHEREOF this Agreement has been duly executed by the Parties hereto as of the day and year first above written.

 

 

	  	  	
IMETRIK GLOBAL INC.

 

 

	  	  	 
 

	  	  	
per:         Guy Chevrette, President

	 	 	 
	 	 	 
	  	  	  
	  	  	
IMETRIK M2M SOLUTIONS INC.

 

 

	  	  	
MICHEL ST-PIERRE

	  	  	
per:         Michel St-Pierre, Presidentex1001.htm

Exhibit 10.01

SECURITIES PURCHASE AGREEMENT

THIS PURCHASE AGREEMENT (“Agreement”) is made as of the 28th day of August, 2012 by and between CLICKER, Inc., a Nevada corporation (the “Company”), and the Investor set forth on the signature page affixed hereto (the “Investor”).

Recitals

A.           The Company and the Investor are executing and delivering this Agreement in reliance upon the exemption from securities registration afforded by the provisions of Regulation D (“Regulation D”), as promulgated by the U.S. Securities and Exchange Commission (the “SEC”) under the Securities Act of 1933, as amended; and

B.           The Investor wishes to purchase from the Company, and the Company wishes to sell and issue to the Investor, upon the terms and conditions stated in this Agreement, a $50,000 principal amount of 10% convertible debenture, in the form attached hereto as Exhibit A (the “Debenture”).

In consideration of the mutual promises made herein and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:

1.           Definitions.  In addition to those terms defined above and elsewhere in this Agreement, for the purposes of this Agreement, the following terms shall have the meanings set forth below:

“Affiliate” means, with respect to any Person, any other Person which directly or indirectly through one or more intermediaries Controls, is controlled by, or is under common control with, such Person.

“Business Day” means a day, other than a Saturday or Sunday, on which banks in New York City are open for the general transaction of business.

“Common Stock Equivalents” means any securities of the Company or the Subsidiaries which would entitle the holder thereof to acquire at any time Common Stock, including without limitation, any debt, preferred stock, rights, options, warrants or other instrument that is at any time convertible into or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock.

“Company’s Knowledge” means the actual knowledge of the executive officers (as defined in Rule 405 under the 1933 Act) of the Company, after due inquiry.

“Confidential Information” means trade secrets, confidential information and know-how (including but not limited to ideas, formulae, compositions, processes, procedures and techniques, research and development information, computer program code, performance specifications, support documentation, drawings, specifications, designs, business and marketing plans, and customer and supplier lists and related information).

 

  

 

  

“Control” (including the terms “controlling”, “controlled by” or “under common control with”) means the possession, direct or indirect, of the power to direct or cause the direction of the management and policies of a Person, whether through the ownership of voting securities, by contract or otherwise.

“Intellectual Property” means all of the following: (i) patents, patent applications, patent disclosures and inventions (whether or not patentable and whether or not reduced to practice); (ii) trademarks, service marks, trade dress, trade names, corporate names, logos, slogans and Internet domain names, together with all goodwill associated with each of the foregoing; (iii) copyrights and copyrightable works; (iv) registrations, applications and renewals for any of the foregoing; and (v) proprietary computer software (including but not limited to data, data bases and documentation).

“Irrevocable Transfer Agent Instructions” means the instruction letter, dated as of August 28, 2012, by and between the Company and Signature Stock Transfer, Inc., in the form attached hereto as Exhibit C.

“Material Adverse Effect” means a material adverse effect on (i) the assets, liabilities, results of operations, condition (financial or otherwise), business, or prospects of the Company and its Subsidiaries taken as a whole, or (ii) the ability of the Company to perform its obligations under the Transaction Documents.

“Person” means an individual, corporation, partnership, limited liability company, trust, business trust, association, joint stock company, joint venture, sole proprietorship, unincorporated organization, governmental authority or any other form of entity not specifically listed herein.

“Purchase Price” means Fifty Thousand Dollars ($50,000).

“SEC Filings” has the meaning set forth in Section 4.6.

“SEC” means the United States Securities and Exchange Commission.

“Securities” means the Debentures and the Shares.

“Shares” means the shares of Common Stock issuable upon conversion of the Debenture.

“Subsidiary” of any Person means another Person, an amount of the voting securities, other voting ownership or voting partnership interests of which is sufficient to elect at least a majority of its Board of Directors or other governing body (or, if there are no such voting interests, 50% or more of the equity interests of which) is owned directly or indirectly by such first Person.

“Transaction Documents” means this Agreement, the Debenture and the Irrevocable Transfer Agent Instructions.

 

  

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“1933 Act” means the Securities Act of 1933, as amended, or any successor statute, and the rules and regulations promulgated thereunder.

“1934 Act” means the Securities Exchange Act of 1934, as amended, or any successor statute, and the rules and regulations promulgated thereunder.

2.           Purchase and Sale of the Debenture.  Subject to the terms and conditions of this Agreement, on the Closing Date, the Company shall sell and issue to the Investor, a Debenture in the principal amount of $50,000 in exchange for $50,000.

3.           Closing.  Upon confirmation that the other conditions to closing specified herein have been satisfied or duly waived by the Investor, the Company shall deliver to the Investor, a Debenture registered the name of the Investor, and the Investor shall cause a wire transfer in same day funds to be sent to the account of the Company as instructed in writing by the Company, in an amount representing the Purchase Price for the Debenture (the “Closing Date”). The closing of the purchase and sale of the Debenture shall take place at the offices of Clicker, Inc. 1111 Kane Concourse, Suite 304, Bay Harbor Islands, Florida 33154, or at such other location and on such other date as the Company and the Investor shall mutually agree.

4.           Representations and Warranties of the Company.  The Company hereby represents and warrants to the Investor that, except as set forth in the schedules delivered herewith (collectively, the “Disclosure Schedules”):

4. 1           Organization, Good Standing and Qualification.  Each of the Company and its Subsidiaries is a corporation duly organized, validly existing and in good standing under the laws of the jurisdiction of its incorporation and has all requisite corporate power and authority to carry on its business as now conducted and to own its properties.  Each of the Company and its Subsidiaries is duly qualified to do business as a foreign corporation and is in good standing in each jurisdiction in which the conduct of its business or its ownership or leasing of property makes such qualification or leasing necessary unless the failure to so qualify has not and could not reasonably be expected to have a Material Adverse Effect.  The Company’s Subsidiaries are listed on Schedule 4.1 hereto.

4.2           Authorization.  The Company has full power and authority and, has taken all requisite action on the part of the Company, its officers, directors and stockholders necessary for (i) the authorization, execution and delivery of the Transaction Documents, (ii) authorization of the performance of all obligations of the Company hereunder or thereunder, and (iii) the authorization, issuance (or reservation for issuance) and delivery of the Securities.  The Transaction Documents constitute the legal, valid and binding obligations of the Company, enforceable against the Company in accordance with their terms, subject to bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium and similar laws of general applicability, relating to or affecting creditors’ rights generally.

4.3           Capitalization.  Schedule 4.3 sets forth (a) the authorized capital stock of the Company on the date hereof; (b) the number of shares of capital stock issued and outstanding; (c) the number of shares of capital stock issuable pursuant to the Company’s stock plans; and (d) the number of shares of capital stock issuable and reserved for issuance pursuant to securities (other than the Securities) exercisable for, or convertible into or exchangeable for any shares of capital stock of the Company.  All of the issued and outstanding shares of the Company’s capital stock have been duly authorized and validly issued and are fully paid, nonassessable and free of pre-emptive rights.  Except as described on Schedule 4.3, all of the issued and outstanding shares of capital stock of each Subsidiary have been duly authorized and validly issued and are fully paid, nonassessable and free of pre-emptive rights, were issued in full compliance with applicable state and federal securities law and any rights of third parties and are owned by the Company, beneficially and of record, subject to no lien, encumbrance or other adverse claim.  Except as described on Schedule 4.3, no Person is entitled to pre-emptive or similar statutory or contractual rights with respect to any securities of the Company.  Except as described on Schedule 4.3, there are no outstanding warrants, options, convertible securities or other rights, agreements or arrangements of any character under which the Company or any of its Subsidiaries is or may be obligated to issue any equity securities of any kind and except as contemplated by this Agreement, neither the Company nor any of its Subsidiaries is currently in negotiations for the issuance of any equity securities of any kind.

 

  

3

  

Except as described on Schedule 4.3, the issuance and sale of the Securities hereunder will not obligate the Company to issue shares of Common Stock or other securities to any other Person (other than the Investor) and will not result in the adjustment of the exercise, conversion, exchange or reset price of any outstanding security.

Except as described on Schedule 4.3, the Company does not have outstanding stockholder purchase rights or “poison pill” or any similar arrangement in effect giving any Person the right to purchase any equity interest in the Company upon the occurrence of certain events.

4.4           Valid Issuance.  The Debenture has been duly and validly authorized and, when issued and paid for pursuant to this Agreement, shall be free and clear of all encumbrances and restrictions (other than those created by the Investor), except for restrictions on transfer set forth in the Transaction Documents or imposed by applicable securities laws.  Upon the due conversion of the Debenture, the Shares will be validly issued, fully paid and non-assessable free and clear of all encumbrances and restrictions, except for restrictions on transfer set forth in the Transaction Documents or imposed by applicable securities laws and except for those created by the Investor.  The Company shall reserve a sufficient number of shares of Common Stock for issuance upon the exercise of the Debenture, free and clear of all encumbrances and restrictions, except for restrictions on transfer set forth in the Transaction Documents or imposed by applicable securities laws and except for those created by the Investor.

4.5           Consents.  The execution, delivery and performance by the Company of the Transaction Documents, and the offer, issuance and sale of the Securities require no consent of, action by or in respect of, or filing with, any Person, governmental body, agency, or official other than filings that have been made pursuant to applicable state securities laws, and post-sale filings pursuant to applicable state and federal securities laws which the Company undertakes to file within the applicable time periods.  Subject to the accuracy of the representations and warranties of the Investor set forth in Section 5 hereof, the Company has taken all action necessary to exempt (i) the issuance and sale of the Securities, (ii) the issuance of the Shares upon due conversion of the Debenture, and (iii) the other transactions contemplated by the Transaction Documents from the provisions of any shareholder rights plan or other “poison pill” arrangement, any anti-takeover, business combination or control share law or statute binding on the Company or to which the Company or any of its assets and properties may be subject and any provision of the Company’s Articles of Incorporation or By-laws that is or could reasonably be expected to become applicable to the Investor as a result of the transactions contemplated hereby, including without limitation, the issuance of the Securities and the ownership, disposition or voting of the Securities by the Investor or the exercise of any right granted to the Investor pursuant to this Agreement or the other Transaction Documents.

4.6           Delivery of SEC Filings; Business.  The Company has made available to the Investor through the EDGAR system, true and complete copies of the Company’s most recent Annual Report on Form 10-K for its last fiscal year (the “10-K”), and all other reports filed by the Company pursuant to the 1934 Act since the filing of the 10-K and prior to the date hereof (collectively, the “SEC Filings”).  The SEC Filings are the only filings required of the Company pursuant to the 1934 Act for such period.  The Company and its Subsidiaries are engaged in all material respects only in the business described in the SEC Filings and the SEC Filings contain a complete and accurate description in all material respects of the business of the Company and its Subsidiaries, taken as a whole.

 

  

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4.7           Use of Proceeds.  The net proceeds of the sale of the Debenture hereunder shall be used by the Company for working capital and general corporate purposes.

4.8           No Conflict, Breach, Violation or Default.  The execution, delivery and performance of the Transaction Documents by the Company and the issuance and sale of the Securities will not conflict with or result in a breach or violation of any of the terms and provisions of, or constitute a default under (i) the Company’s Articles of Incorporation or the Company’s Bylaws, both as in effect on the date hereof (true and complete copies of which have been made available to the Investor through the EDGAR system), or (ii)(a) any statute, rule, regulation or order of any governmental agency or body or any court, domestic or foreign, having jurisdiction over the Company, any Subsidiary or any of their respective assets or properties, or (b) any agreement or instrument to which the Company or any Subsidiary is a party or by which the Company or a Subsidiary is bound or to which any of their respective assets or properties is subject.

4.9           Brokers and Finders.  No Person will have, as a result of the transactions contemplated by the Transaction Documents, any valid right, interest or claim against or upon the Company, any Subsidiary or an Investor for any commission, fee or other compensation pursuant to any agreement, arrangement or understanding entered into by or on behalf of the Company.

4.10           No Directed Selling Efforts or General Solicitation.  Neither the Company nor any Person acting on its behalf has conducted any general solicitation or general advertising (as those terms are used in Regulation D) in connection with the offer or sale of any of the Securities.

4.11           No Integrated Offering.  Neither the Company nor any of its Affiliates, nor any Person acting on its or their behalf has, directly or indirectly, made any offers or sales of any Company security or solicited any offers to buy any security, under circumstances that would adversely affect reliance by the Company on Section 4(2) for the exemption from registration for the transactions contemplated hereby or would require registration of the Securities under the 1933 Act.

4.12           Private Placement.  The offer and sale of the Securities to the Investor as contemplated hereby is exempt from the registration requirements of the 1933 Act.

 

5.           Representations and Warranties of the Investor.  The Investor hereby represents and warrants to the Company that:

5.1           Organization and Existence.  Such Investor is a validly existing corporation, limited partnership or limited liability company and has all requisite corporate, partnership or limited liability company power and authority to invest in the Securities pursuant to this Agreement.

5.2           Authorization.  The execution, delivery and performance by such Investor of the Transaction Documents to which such Investor is a party have been duly authorized and will each constitute the valid and legally binding obligation of such Investor, enforceable against such Investor in accordance with their respective terms, subject to bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium and similar laws of general applicability, relating to or affecting creditors’ rights generally.

 

  

5

  

5.3           Purchase Entirely for Own Account.  The Securities to be received by such Investor hereunder will be acquired for such Investor’s own account, not as nominee or agent, and not with a view to the resale or distribution of any part thereof in violation of the 1933 Act, and such Investor has no present intention of selling, granting any participation in, or otherwise distributing the same in violation of the 1933 Act without prejudice, however, to such Investor’s right at all times to sell or otherwise dispose of all or any part of such Securities in compliance with applicable federal and state securities laws.  Nothing contained herein shall be deemed a representation or warranty by such Investor to hold the Securities for any period of time.  Such Investor is not a broker-dealer registered with the SEC under the 1934 Act or an entity engaged in a business that would require it to be so registered.

5.4           Investment Experience.  Such Investor acknowledges that it can bear the economic risk and complete loss of its investment in the Securities and has such knowledge and experience in financial or business matters that it is capable of evaluating the merits and risks of the investment contemplated hereby.

5.5           Disclosure of Information.  Such Investor has had an opportunity to receive all information related to the Company requested by it and to ask questions of and receive answers from the Company regarding the Company, its business and the terms and conditions of the offering of the Securities.  Such Investor acknowledges receipt of copies of the SEC Filings.  Neither such inquiries nor any other due diligence investigation conducted by such Investor shall modify, amend or affect such Investor’s right to rely on the Company’s representations and warranties contained in this Agreement.

5.6           Restricted Securities.  Such Investor understands that the Securities are characterized as “restricted securities” under the U.S. federal securities laws inasmuch as they are being acquired from the Company in a transaction not involving a public offering and that under such laws and applicable regulations such securities may be resold without registration under the 1933 Act only in certain limited circumstances.

5.7           Legends.  It is understood that, except as provided below, certificates evidencing the Securities may bear the following or any similar legend:

(a)           “The securities represented hereby may not be transferred unless (i) such securities have been registered for sale pursuant to the Securities Act of 1933, as amended, (ii) such securities may be sold pursuant to Rule 144(i), or (iii) the Company has received an opinion of counsel reasonably satisfactory to it that such transfer may lawfully be made without registration under the Securities Act of 1933 or qualification under applicable state securities laws.”

(b)           If required by the authorities of any state in connection with the issuance of sale of the Securities, the legend required by such state authority.

5.8           Accredited Investor.  Such Investor is an accredited investor as defined in Rule 501(a) of Regulation D, as amended, under the 1933 Act.

5.9           No General Solicitation.  Such Investor did not learn of the investment in the Securities as a result of any public advertising or general solicitation.

5.10           Brokers and Finders.  No Person will have, as a result of the transactions contemplated by the Transaction Documents, any valid right, interest or claim against or upon the Company, any Subsidiary or an Investor for any commission, fee or other compensation pursuant to any agreement, arrangement or understanding entered into by or on behalf of such Investor.

 

  

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6.  Conditions to Closing.

6.1           Conditions to the Investor’s Obligations. The obligation of the Investor to purchase the Debenture at Closing is subject to the fulfillment to such Investor’s satisfaction, on or prior to the Closing Date, of the following conditions, any of which may be waived by the Investor:

(a)           The representations and warranties made by the Company in Section 4 hereof qualified as to materiality shall be true and correct at all times prior to and on the Closing Date, except to the extent any such representation or warranty expressly speaks as of an earlier date, in which case such representation or warranty shall be true and correct as of such earlier date, and, the representations and warranties made by the Company in Section 4 hereof not qualified as to materiality shall be true and correct in all material respects at all times prior to and on the Closing Date, except to the extent any such representation or warranty expressly speaks as of an earlier date, in which case such representation or warranty shall be true and correct in all material respects as of such earlier date.  The Company shall have performed in all material respects all obligations and conditions herein required to be performed or observed by it on or prior to the Closing Date.

(b)           The Company shall have obtained any and all consents, permits, approvals, registrations and waivers necessary or appropriate for consummation of the purchase and sale of the Securities, and the consummation of the other transactions contemplated by the Transaction Documents, all of which shall be in full force and effect.

(c)           No judgment, writ, order, injunction, award or decree of or by any court, or judge, justice or magistrate, including any bankruptcy court or judge, or any order of or by any governmental authority, shall have been issued, and no action or proceeding shall have been instituted by any governmental authority, enjoining or preventing the consummation of the transactions contemplated hereby or in the other Transaction Documents.

 

(d)           The Company shall have executed and delivered the Irrevocable Transfer Agent Instructions (including the same executed by Signature Stock Transfer, Inc.).

(e)           No stop order or suspension of trading shall have been imposed by Nasdaq, the SEC or any other governmental or regulatory body with respect to public trading in the Common Stock.

6.2           Conditions to Obligations of the Company. The Company's obligation to sell and issue the Debenture at Closing is subject to the fulfillment to the satisfaction of the Company on or prior to the Closing Date of the following conditions, any of which may be waived by the Company:

(a)           The representations and warranties made by the Investor in Section 5 hereof, other than the representations and warranties contained in Sections 5.3, 5.4, 5.5, 5.6, 5.7, 5.8 and 5.9 (the “Investment Representations”), shall be true and correct in all material respects when made, and shall be true and correct in all material respects on the Closing Date with the same force and effect as if they had been made on and as of said date.  The Investment Representations shall be true and correct in all respects when made, and shall be true and correct in all respects on the Closing Date with the same force and effect as if they had been made on and as of said date.  The Investor shall have performed in all material respects all obligations and conditions herein required to be performed or observed by them on or prior to the Closing Date.

(b)           The Investor shall have delivered the Purchase Price to the Company.

6.3           Termination of Obligations to Effect Closing; Effects.

(a)           The obligations of the Company, on the one hand, and the Investor, on the other hand, to effect the Closing shall terminate as follows:

(i)           Upon the mutual written consent of the Company and the Investor;

(ii)           By the Company if any of the conditions set forth in Section 6.2 shall have become incapable of fulfillment, and shall not have been waived by the Company;

(iii)           By the Investor if any of the conditions set forth in Section 6.1 shall have become incapable of fulfillment, and shall not have been waived by the Investor; or

(iv)           By either the Company or the Investor if the Closing has not occurred on or prior to August 30, 2012;

provided, however, that, except in the case of clause (i) above, the party seeking to terminate its obligation to effect the Closing shall not then be in breach of any of its representations, warranties, covenants or agreements contained in this Agreement or the other Transaction Documents if such breach has resulted in the circumstances giving rise to such party’s seeking to terminate its obligation to effect the Closing.

 

  

7

  

7.           Survival and Indemnification.

7.1  Survival.  The representations, warranties, covenants and agreements contained in this Agreement shall survive the Closing of the transactions contemplated by this Agreement.

7.2  Indemnification.  The Company agrees to indemnify and hold harmless each Investor and its Affiliates and their respective directors, officers, employees and agents from and against any and all losses, claims, damages, liabilities and expenses (including without limitation reasonable attorney fees and disbursements and other expenses incurred in connection with investigating, preparing or defending any action, claim or proceeding, pending or threatened and the costs of enforcement thereof) (collectively, “Losses”) to which such Person may become subject as a result of any breach of representation, warranty, covenant or agreement made by or to be performed on the part of the Company under the Transaction Documents, and will reimburse any such Person for all such amounts as they are incurred by such Person.

7.3  Conduct of Indemnification Proceedings.  Promptly after receipt by any Person (the “Indemnified Person”) of notice of any demand, claim or circumstances which would or might give rise to a claim or the commencement of any action, proceeding or investigation in respect of which indemnity may be sought pursuant to Section 7.2, such Indemnified Person shall promptly notify the Company in writing and the Company shall assume the defense thereof, including the employment of counsel reasonably satisfactory to such Indemnified Person, and shall assume the payment of all fees and expenses; provided, however, that the failure of any Indemnified Person so to notify the Company shall not relieve the Company of its obligations hereunder except to the extent that the Company is materially prejudiced by such failure to notify.  In any such proceeding, any Indemnified Person shall have the right to retain its own counsel, but the fees and expenses of such counsel shall be at the expense of such Indemnified Person unless: (i) the Company and the Indemnified Person shall have mutually agreed to the retention of such counsel; or (ii) in the reasonable judgment of counsel to such Indemnified Person representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them.  The Company shall not be liable for any settlement of any proceeding effected without its written consent, which consent shall not be unreasonably withheld, but if settled with such consent, or if there be a final judgment for the plaintiff, the Company shall indemnify and hold harmless such Indemnified Person from and against any loss or liability (to the extent stated above) by reason of such settlement or judgment.  Without the prior written consent of the Indemnified Person, which consent shall not be unreasonably withheld, the Company shall not effect any settlement of any pending or threatened proceeding in respect of which any Indemnified Person is or could have been a party and indemnity could have been sought hereunder by such Indemnified Party, unless such settlement includes an unconditional release of such Indemnified Person from all liability arising out of such proceeding.

8.           Miscellaneous.

8.1           Successors and Assigns.  This Agreement may not be assigned by a party hereto without the prior written consent of the Company or the Investor, as applicable, provided, however, that an Investor may assign its rights and delegate its duties hereunder in whole or in part to an Affiliate or to a third party acquiring some or all of its Securities in a private transaction without the prior written consent of the Company, after notice duly given by such Investor to the Company.  The provisions of this Agreement shall inure to the benefit of and be binding upon the respective permitted successors and assigns of the parties.  Nothing in this Agreement, express or implied, is intended to confer upon any party other than the parties hereto or their respective successors and assigns any rights, remedies, obligations, or liabilities under or by reason of this Agreement, except as expressly provided in this Agreement.

8.2           Counterparts; Faxes.  This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.  This Agreement may also be executed via facsimile, which shall be deemed an original.

8.3           Titles and Subtitles.  The titles and subtitles used in this Agreement are used for convenience only and are not to be considered in construing or interpreting this Agreement.

 

  

8

  

8.4           Notices.  Unless otherwise provided, any notice required or permitted under this Agreement shall be given in writing and shall be deemed effectively given as hereinafter described (i) if given by personal delivery, then such notice shall be deemed given upon such delivery, (ii) if given by telex or telecopier, then such notice shall be deemed given upon receipt of confirmation of complete transmittal, (iii) if given by mail, then such notice shall be deemed given upon the earlier of (A) receipt of such notice by the recipient or (B) three days after such notice is deposited in first class mail, postage prepaid, and (iv) if given by an internationally recognized overnight air courier, then such notice shall be deemed given one business day after delivery to such carrier.  All notices shall be addressed to the party to be notified at the address as follows, or at such other address as such party may designate by ten days’ advance written notice to the other party:

If to the Company:

CLICKER, Inc.

1111 Kane Concourse, Suite 304

Bay Harbor Islands, Florida 33154

Attn:  Chief Executive Officer

Fax: 305.396.3820

If to the Investor:

Millennium Investment Realty, LLC

18401 Collins Avenue

Sunny Isles Beach, FL 33160

Attn: Sebastian Tettamanti

8.5           Expenses.  The parties hereto shall pay their own costs and expenses in connection herewith.  In the event that legal proceedings are commenced by any party to this Agreement against another party to this Agreement in connection with this Agreement or the other Transaction Documents, the party or parties which do not prevail in such proceedings shall severally, but not jointly, pay their pro rata share of the reasonable attorneys’ fees and other reasonable out-of-pocket costs and expenses incurred by the prevailing party in such proceedings.

8.6           Amendments and Waivers.  Any term of this Agreement may be amended and the observance of any term of this Agreement may be waived (either generally or in a particular instance and either retroactively or prospectively), only with the written consent of the Company and the Investor.  Any amendment or waiver effected in accordance with this paragraph shall be binding upon each holder of any Securities purchased under this Agreement at the time outstanding, each future holder of all such Securities, and the Company.

8.7           Severability.  Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof but shall be interpreted as if it were written so as to be enforceable to the maximum extent permitted by applicable law, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction.  To the extent permitted by applicable law, the parties hereby waive any provision of law which renders any provision hereof prohibited or unenforceable in any respect.

8.8           Entire Agreement.  This Agreement, including the Exhibits and the Disclosure Schedules, and the other Transaction Documents constitute the entire agreement among the parties hereof with respect to the subject matter hereof and thereof and supersede all prior agreements and understandings, both oral and written, between the parties with respect to the subject matter hereof and thereof.

8.9           Further Assurances.  The parties shall execute and deliver all such further instruments and documents and take all such other actions as may reasonably be required to carry out the transactions contemplated hereby and to evidence the fulfillment of the agreements herein contained.

 

  

9

  

8.10           Governing Law; Consent to Jurisdiction; Waiver of Jury Trial.  This Agreement shall be governed by, and construed in accordance with, the internal laws of the State of New York, without regard to principles of conflicts of law.  THE COMPANY AND INVESTOR WAIVE ANY RIGHT TO A JURY TRIAL OF ANY CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING OUT OF THIS DEBENTURE OR ANY TRANSACTION CONTEMPLATED HEREIN, INCLUDING CLAIMS BASED ON CONTRACT, TORT, BREACH OF DUTY AND ALL OTHER COMMON LAW OR STATUTORY BASIS. Each party hereby submits to the exclusive jurisdiction of the state and federal courts located in the County of New York, State of New York.  If the jury waiver set forth in this Section is not enforceable, then any dispute, controversy or claim arising out of or relating to this Agreement or any of the transactions contemplated herein will be finally settled by binding arbitration in New York, New York in accordance with the then current Commercial Arbitration Rules of the American Arbitration Association by one arbitrator appointed in accordance with said rules.  The arbitrator shall apply New York law to the resolution of any dispute, without reference to rules of conflicts of law or rules of statutory arbitration.  Judgment on the award rendered by the arbitrator may be entered in any court having jurisdiction thereof.  Notwithstanding the foregoing, the parties may apply to any court of competent jurisdiction for preliminary or interim equitable relief, or to compel arbitration in accordance with this paragraph.  The expenses of the arbitration, including the arbitrator’s fees and expert witness fees, incurred by the parties to the arbitration, may be awarded to the prevailing party, in the discretion of the arbitrator, or may be apportioned between the parties in any manner deemed appropriate by the arbitrator.  Unless and until the arbitrator decides that one party is to pay for all (or a share) of such expenses, both parties shall share equally in the payment of the arbitrator’s fees as and when billed by the arbitrator.

[signature page follows]

 

 

 

 

 

 

  

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IN WITNESS WHEREOF, the parties have executed this Agreement or caused their duly authorized officers to execute this Agreement as of the date first above written.

 

	The Company:	CLICKER INC.	 
	 	 	 	 
	
 

	
By: 

	/s/ LLOYD LAPIDUS	 
	 	Name:	Lloyd Lapidus 	 
	 	Title:	Chief Executive Officer 	 
	 	 	 	 

	The Investor:  	Millennium Investment Realty, LLC	 
	 	 	 	 
	
 

	
By: 

	/s/ SEBASTIAN TETTAMANTI	 
	 	Name:	Sebastian Tettamanti 	 
	 	 	 	 
	 	 	 	 

                                                  

 

 

 

 

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