Document:

Unassociated Document

    
       

      /  

      PROMISSORY
        NOTE 

      

      
        	
                ₤300,000

              	
                November
                  28, 2002

              
	 	
                London,
                  United Kingdom

              

      

      

      Intec
        Invest Ltd (Shortly to be known as ACI Corporation Ltd (U.K.)) is the ultimate
        holding company in the ACI Group. The group is in the process of constructing
        Elastomer plants in the USA, Europe and Asia. 

      

      The
        funds
        secured by the promissory note are to be utilized mainly by Bovis Lend Lease
        LMB
        to cover the costs of pre engineering, design, architectural and tender costs
        for the sites in the project Czech Republic, West Virginia, USA and Malaysia.
        

      

      The
        group
        has been funded to date through equity payments contributed by the shareholders.
        There is currently no debt in the company. 

      

      FOR
        VALUE RECEIVED,
        Intec
        Invest Ltd, a company incorporated in the United Kingdom, and having its
        registered office at City Business Center, 17 Lower Rd, London SE16 2XB UK
        (hereinafter referred to as "Borrower"), hereby promises to pay to Weavering
        Capital Fund Limited 015,
        a
        company ("Lender"), the sum of three hundred thousand Pounds (₤300,000) pursuant
        to the terms set forth in this instrument, which is hereinafter referred
        to as
        this "Note." 

      

      1. Repayment. Borrower
        shall repay the principal balance due, and all interest accrued thereon, under this Note in full on 24/11/2004.

       

      2. Interest
        Rate.
        Until
        repaid in full, the principal balance of this Note shall bear interest
        at a rate of 12 per cent per annum, paid semi-annually in arrears.  

       

      3. Manner
        and Location
        of Payment.
        All
        payments of this Note are payable in Pounds
        Sterling, at OWOMFG Trust Services Limited, P.O. Box 961, 30 De Castro Street,
        Road Town, Tortola, British Virgin Islands. or at such other address as the
        Lender may, from time to time, designate by written notice given to Borrower
        at
        the address shown above for Borrower.

      

      4.
        Waiver.
        Borrower waives diligence, demand, presentment for payment, protest and notice
        of non-payment and of protest, notice of default, and all other notices or
        demands of any kind. The failure of Lender to exercise any option hereunder
        shall not constitute a waiver of the right to exercise the same in the event
        of
        any subsequent default or in the event of continuance of any existing
        default.

      

      5.
        Cost
        of Collection.
        Borrower agrees to pay all costs of collection incurred by Lender. Costs
        of
        collection shall include, without limitation, reasonable attorneys' fees
        if this
Note
        is
        placed in the hands of attorneys for collection or if suit is brought, together
        with all court costs and other expenses incurred in the prosecution of said
        action. 

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      

      6.
        Governing
        Law; Consent to Jurisdiction.
        This
        Note shall be deemed to be a contract under the laws of the United Kingdom
        and
        for all purposes shall be governed by and construed and enforced in accordance
        with the laws of said Country, without giving effect to the conflict of laws
        principles thereof.

      

      IN
        WITNESS WHEREOF,
        this
        Note has been executed and delivered by Borrower to Lender as of the date
        first
        hereinabove written. 

      

      Intec
        Invest Ltd

      By

       

      ________________________________

      Michael
        Edward Howarth 

      Chief
        Financial Officer 

       

      168660

       

      The
        Lender agrees to issue funds upon receipt of a facsimile copy of this promissory
        note. The original which will be forwarded by courier and shall upon its
        receipt
        by the lender be the sole enforceable document against the company and its
        guarantors. 

      

      PERSONAL
        GUARANTEE 

      

      We
        the
        undersigned Patrick E Adair of 1910/Suite 110, Northwest Boulevarde, Coeur
        d’Alene, Idaho and Michael E Howarth of 1 Columbus Place, Apartment N5N, New
        York, New York, 10019 agree to be jointly and severally responsible to repay
        the
        above promissory note in the event of a default by the borrower. The Lender
        shall seek repayment of the above promissory note first from the borrower
        prior
        to making demand on either of the personal guarantors. In the event of a
        default
        by the borrower the lender shall provide notice of said default to one or
        both
        of the guarantors. Guarantors shall have 30 days from notification of default
        to
        pay this promissory note in full. Guarantors agree to be bound by the legal
        jurisdiction set forth above in the promissory note.

      

      
        	
                Michael
                  E Howarth

              	
                 Patrick
                  E Adair

              
	
                An
                  individual

              	
                 An
                  individual

              

      

       

      
 

      2Unassociated Document

    

    
      
        

      

    

    CONFIDENTIAL

    

    

    INTELLECTUAL
      PROPERTY LICENSING AGREEMENT

    (Exclusive
      Worldwide Manufacturing, Marketing and Operational Rights)

    by
      and
      between

    

    Owner/Licensor:
      ACI Corporation AG

    and

    Licensee:
      ACI Technologies Ltd.

    

    

    

    Dated:
      20
      September 2005

     

    

    
      
        

      

       

       

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      
        

      

    

     

    INTELLECTUAL
      PROPERTY LICENSING AGREEMENT

    (Exclusive
      Worldwide Manufacturing, Marketing and Operational Rights)

    

    
      
        

      

    

     

    This
      Intellectual Property Licensing Agreement (“Agreement”) is entered into
      effective this 20th
      day of
      September 2005 by and between Owner/Licensor ACI
      Corporation AG,
      a
      company organized and existing under the laws of Germany (“Owner/Licensor
      ACI AG”)
      and
      Licensee ACI
      Technologies, Ltd.,
      a
      company organized and existing under the laws of Hong Kong (“Licensee
      ACI Tech”).

     

    RECITALS

    

    WHEREAS,
      Owner/Licensor
      ACI AG is
      the
      inventor and owner of certain Intellectual Property and Technology for the
      processing of previously vulcanized rubber materials using cryogenic
      technologies and processes;

    

    WHEREAS,
      Owner/Licensor
      ACI AG desires
      to grant certain exclusive worldwide licensing rights to Licensee
      ACI Tech;
      and
Licensee
      ACI Tech
      desires
      to receive said licensing rights from Owner/Licensor
      ACI AG,
      on the
      terms and conditions set forth in this Agreement;

    

    NOW,
      THEREFORE,
      in
      consideration of the foregoing and of the mutual promises contained in this
      Agreement, the Parties agree as follows:

    

    1.0. Construction
      and Definitions.

    

    1.1. Definitions.
      The
      following capitalized terms have the meanings set forth below:

    

    (a) “Binary
      Code”
means
      computer software in machine-readable, executable format that is created by
      compiling and linking Source Code.

    

    (b) “Derivative
      Work”
has
      the
      meaning ascribed to it under the United States Copyright Law, Title 17 U.S.C.
      Sec. 101 et.
      seq.,
      as the
      same may be amended from time to time.

    

    (c) “Improvement”
means
      any adaptation, improvement, upgrade, update, enhancement, new version, patch,
      extension, Derivative Work, or add-on of or to any Technology. Without limiting
      the foregoing, any invention (whether patented or not) that would infringe
      another patented invention will be considered an “Improvement” to such first
      patented invention.

    

    (d) “Intellectual
      Property Rights”
means
      any or all of the following and all rights in, arising out of, or associated
      with: (i) all patents made throughout the world and incorporated herein by
      this
      reference, and applications therefore, including provisional applications,
      and
      all reissues, renewals, extensions, continuations and continuations-in-part
      thereof (“Patents”); (ii) all rights (other than Patents) in inventions (whether
      patentable or not), invention disclosures, improvements, trade secrets,
      proprietary information, know-how, technology and technical data throughout
      the
      world (“Trade Secrets”); (iii) all copyrights, copyright registrations and
      applications therefore and all other rights corresponding thereto throughout
      the
      world (“Copyrights”); (iv) all mask works, mask work registrations and
      applications therefore throughout the world; (v) all industrial designs and
      any
      registrations and applications therefore throughout the world; (vi) any other
      rights in databases and data collections throughout the world; (vii) any other
      rights throughout the world in computer software including all source code,
      object code, firmware, development tools, files, records and data, and all
      media
      on which any of the foregoing is recorded; and (viii) any similar, corresponding
      or equivalent rights to any of the foregoing any where in the
      world.

     

    
      
         

      

      
        Page
          2 of
          12

        
          

        

      

      
         

      

    

    

    (e) “Manufacturing
      Rights”
means
      exclusive rights to receive orders and manufacture and construct or manage
      the
      manufacturer and construction of ACI-50 cryogenic processing plants, or upgrades
      to existing cryogenic plants based on ACI-50 technology, throughout the
      world.

    

    (f) “Marketing
      Rights”
means
      exclusive rights to conduct any and all activities related to the sales,
      marketing and business development of ACI-50 cryogenic processing plants, or
      upgrades to existing plants based on ACI-50 technology, and to any and all
      materials or products produced from the operation of said cryogenic processing
      plants, including controlling strategic and tactical operations and management,
      throughout the world.

    

    (g) “Operational
      Rights”
means
      exclusive rights to conduct any and all activities related to the operations
      of
      ACI-50 cryogenic processing plants, or upgrades to existing plants based on
      ACI-50 technology, and the production of materials or products from the
      operation of said cryogenic processing plants, throughout the
      world.

    

    (h) “Minimum
      Maintenance Royalties”
means
      the minimum amount paid by Licensee
      ACI Tech
      to
Owner/Licensor
      ACI AG
      on an
      annual basis for the purpose of maintaining the current force and effect of
      Licensee
      ACI Tech’s
      licensing rights as granted in this Agreement to Licensee
      ACI Tech
      from
Owner/Licensor
      ACI AG. 

    

    (i) “Royalty
      Term”
means
      a
      perpetual period of years from the effective date of this
      Agreement.

    

    (j)
       “Software”
means
      computer software in Source Code or Binary Code form.

    

    (k) “Source
      Code”
means
      computer software in human readable form, including software capable of being
      compiled into Binary Code.

    

    (l) “Success-based
      Royalties”
means
      the amounts paid by Licensee
      ACI Tech
      to
Owner/Licensor
      ACI AG
      on a
      quarterly basis for the sale, manufacture, construction and commissioning of
      ACI-50 cryogenic processing plants, or upgrades to existing plants based on
      ACI-50 technology, throughout the world.

    

    (m) “Technology”
means
      technology, including all patents, confidential business information, trade
      secrets, know-how, show-how, techniques, design rules, inventions (whether
      or
      not patented or patentable), algorithms, routines, software, files, databases,
      works of authorship, processes, prototypes, devices and hardware.

     

    
      
         

      

      
        Page
          3 of
          12

        
          

        

      

      
         

      

    

    

    (n) “Owner/Licensor
      ACI AG Intellectual
      Property Rights”
means
      the rights of Owner/Licensor
      ACI AG,
      as of
      the effective date, in or under any Intellectual Property Rights owned by
Owner/Licensor
      ACI AG,
      or
      sublicensable by Owner/Licensor
      ACI AG
      without
      any further financial obligations on the part of Owner/Licensor
      ACI AG.

    

    (o) “Owner/Licensor
      ACI AG
      Software”
means
      the Software that is used by Owner/Licensor
      ACI AG
      for
      manufacturing of an ACI-50 cryogenic processing plant facility.

    

    (p) “Owner/Licensor
      ACI AG
      Technology”
means
      the Technology that is used by Owner/Licensor
      ACI AG
      for
      manufacturing and construction of an ACI-50 cryogenic processing plant
      facility.

    

    1.2. Construction
      of Contract Language.

    

    (a) For
      purposes of this Agreement, whenever the context requires: the singular number
      will include the plural, and visa versa; the masculine gender will include
      the
      feminine and neuter genders; the feminine gender will include the masculine
      and
      neuter genders; and the neuter gender will include the masculine and feminine
      genders.

    

    (b) The
      Parties hereto agree that any rule of construction to the effect that
      ambiguities are to be resolved against the drafting Party will not be applied
      in
      the construction or interpretation of this Agreement.

    

    (c) As
      used
      in this Agreement, the words “include” and “including,” and variations thereof,
      will not be deemed to be terms of limitation, but rather will be deemed to
      be
      followed by the words “without limitation.”

    

    (d) Except
      as
      otherwise indicated, all references in this Agreement to “Sections” are intended
      to refer to Sections to this Agreement.

    

    (e) The
      headings in this Agreement are for the convenience of reference only, will
      not
      be deemed to be a part of this Agreement, and will not be referred to in
      connection with the construction or interpretation of this
      Agreement.

    

    2.0. Licenses
      to Licensee
      ACI Tech.

    

    2.1. License
      to Utilize Owner/Licensor
      ACI AG
      Intellectual Property Rights.
      Subject
      to the terms and conditions of this Agreement, Owner/Licensor
      ACI AG
      hereby
      grants to Licensee
      ACI Tech,
      an
      exclusive, worldwide, perpetual license to make (including to have made), use,
      sell, offer for sale, export and import, or otherwise utilize in whatever manner
      that is determined by Licensee
      ACI Tech
      in its
      sole discretion to be appropriate, all rights and benefits in and to the
Owner/Licensor
      ACI AG
      Intellectual Property Rights (including Owner/Licensor
      ACI AG
      Software
      and Owner/Licensor
      ACI AG
      Technology) in furtherance of Licensee
      ACI Tech’s
      exclusive rights as set forth in paragraphs 2.2, 2.3, 2.4, 2.5 and 2.6
      below.

     

    
      
         

      

      
        Page
          4 of
          12

        
          

        

      

      
         

      

    

    

    2.2. License
      to Utilize Owner/Licensor
      ACI AG Software.
      Subject
      to the terms and conditions of this Agreement, Owner/Licensor
      ACI AG
      hereby
      grants to Licensee
      ACI Tech,
      an
      exclusive, worldwide, perpetual license to use, reproduce, compile into Binary
      Code form, and create Derivative Works from the Source Code of the Owner/Licensor
      ACI AG Software,
      for those ACI-50 cryogenic processing plants manufactured and constructed by
      Licensee
      ACI Tech
      or those
      plants manufactured and constructed under the management of, or subject to
      the
      approval of, the Licensee
      ACI Tech.

    

    2.3. License
      to Utilize Owner/Licensor
      ACI AG Technology.
      Subject
      to the terms and conditions of this Agreement, Owner/Licensor
      ACI AG
      hereby
      grants to Licensee
      ACI Tech,
      an
      exclusive, worldwide, perpetual license to use Owner/Licensor
      ACI AG
      Technology, including all patents, confidential business information, trade
      secrets, know-how, techniques, design rules, inventions (whether or not patented
      or patentable), algorithms, routines, software, files, databases, works of
      authorship, process, prototypes, devises and hardware for manufacturing
      purposes, all rights and benefits in and to the Owner/Licensor
      ACI AG
      Technology, only for those ACI-50 processing plants manufactured and constructed
      by Licensee
      ACI Tech
      or those
      plants manufactured and constructed under the management of, or subject to
      the
      approval of, the Licensee
      ACI Tech,
      or
      subject to a sublicense issued by Licensee
      ACI Tech.

    

    2.4. License
      to Utilize Manufacturing Rights.
      Subject
      to the terms and conditions of this Agreement, Owner/Licensor ACI AG hereby
      grants to Licensee
      ACI Tech
      an
      exclusive, worldwide, perpetual, sub-licensable license to act as sole
      manufacturing agent related to the Intellectual Property Rights and Technology
      subject to this Agreement, including but not limited to conducting any and
      all
      activities related to the receiving of orders, manufacturing and construction,
      or the management of the manufacturing and construction, of ACI-50 cryogenic
      processing plants throughout the world.

    

    2.5. License
      to Utilize Marketing Rights.
      Subject
      to the terms and conditions of this Agreement, Owner/Licensor ACI AG hereby
      grants to Licensee
      ACI Tech
      an
      exclusive, worldwide, perpetual, sub-licensable license to act as sole marketing
      agent related to the Intellectual Property Rights and Technology subject to
      this
      Agreement, including but not limited to conducting any and all activities
      related to the sales, marketing and Business Development of ACI-50 cryogenic
      processing plants, including controlling strategic and tactical operations
      and
      management of said ACI-50 cryogenic processing plants, throughout the
      world.

    

    2.6. License
      to Utilize Operational Rights.
      Subject
      to the terms and conditions of this Agreement, Owner/Licensor
      ACI AG
      hereby
      grants to Licensee
      ACI Tech
      an
      exclusive, worldwide, perpetual, sub-licensable license to act as sole
      operational agent related to the Intellectual Property Rights and Technology
      subject to this Agreement, including but not limited to conducting any and
      all
      activities related to the operations of ACI-50 cryogenic processing plants
      and
      the production of materials or products from the operation of said ACI-50
      cryogenic processing plants, throughout the world.

    

    2.7. Reservation
      of Rights.
      Owner/Licensor
      ACI AG
      hereby
      reserves all rights not expressly granted hereunder, including but not limited
      to Design and Development Rights related to the Intellectual Property Rights
      subject to this Agreement. No implied licenses are granted under this Agreement
      to Licensee
      ACI Tech
      with
      respect to any unrelated technology or Intellectual Property Rights that may
      be
      acquired or developed by Owner/Licensor
      ACI AG
      subsequent to the effective date of this Agreement. However, Owner/Licensor
      ACI AG
      grants
      to Licensee
      ACI Tech
      an
      exclusive, perpetual right of first refusal to obtain exclusive worldwide
      licensing rights to said technology consistent with paragraphs 2.2, 2.3, 2.4,
      2.5 and 2.6 above, if and when it is subsequently obtained or developed by
      Owner/Licensor
      ACI AG.

     

    
      
         

      

      
        Page
          5 of
          12

        
          

        

      

      
         

      

    

    

    3.0. Fees,
      Royalties, Purchasing of Equipment and Engineering
      Services.
      For the
      rights and licenses herein granted, Licensee
      ACI Tech agrees
      to
      pay, or cause to be paid, fees and royalties to Owner/Licensor
      ACI AG and
      to
      purchase equipment and engineering services from
      Owner/Licensor ACI AG,
      as
      follows:

    

    3.1. Minimum
      Maintenance Royalties.
      Licensee
      ACI Tech
      shall
      pay to Owner/Licensor
      ACI AG,
      on or
      before 31 December each year, the minimum amount of Two Hundred and Fifty
      Thousand Euros (€250,000). In the event that no Success-based Royalties have
      been paid during a given year, then the full amount of this Minimum Maintenance
      Royalty shall be paid. Licensee
      ACI Tech may
      deduct any Success-based Royalties paid during the year from the Minimum
      Maintenance Royalties owing for that calendar year. If Two Hundred and Fifty
      Thousand Euros (€250,000) or more in Success-based Royalties have been paid by
Licensee
      ACI Tech
      to
Owner/Licensor
      ACI AG
      during
      the calendar year then no Minimum Maintenance Royalty fee shall be due or owing.
      Owner/Licensor
      ACI AG
      shall
      have the right to waive the payment of this Minimum Maintenance Royalty for
      any
      given year at its sole discretion. However, any such waiver for a particular
      year does not waive Owner/Licensor
      ACI AG’s
      rights
      to enforce the collection of this Minimum Maintenance Royalty in any subsequent
      year.

    

    3.2. Success-based
      Royalties.
      It is
      agreed that Licensee
      ACI Tech
      shall
      pay to Owner/Licensor
      ACI AG,
      on a
      quarterly basis, the amount of Two Hundred and Fifty Thousand Euros (€250,000)
      for each ACI-50 cryogenic processing plant that Licensee
      ACI Tech
      sells,
      manufacturers, constructs and commissions, throughout the world. So that there
      is no confusion, the Parties agree that there are four (4) ACI-50 plants in
      what
      is popularly referred to as a “Quad” plant. This Success-based Royalty fee shall
      be due and payable to Owner/Licensor
      ACI AG
      from
Licensee
      ACI Tech at
      the
      end of the calendar quarter in which the processing plant was commissioned
      and
      approved for operation. Licensee
      ACI Tech
      shall
      render a full statement of its account and make payment of royalties on or
      before thirty (30) days after the close of each calendar quarter. Owner/Licensor
      ACI AG
      shall
      have the right to waive the payment of this Success-based Royalty for any given
      processing plant commissioning at its sole discretion. However, any such waiver
      for a particular commissioning does not waive Owner/Licensor
      ACI AG’s
      rights
      to enforce the collection of this Success-based Royalty related to any
      subsequent commissioning.

    

    3.3. Equipment
      Purchasing and Engineering Services.
      Licensee
      ACI Tech
      agrees
      to purchase the equipment used in the construction of all ACI-50 cryogenic
      processing plants from Owner/Licensor
      ACI AG,
      if
      pricing for such equipment remains competitive, and to engage Owner/Licensor
      ACI AG
      as its
      primary engineering firm, subject to separate purchase agreements and
      professional services agreements as may be necessary and beneficial to the
      Parties. 

    

    3.4. Accurate
      Records.
      Licensee
      ACI Tech
      agrees
      to keep full and accurate records showing the sales, manufacture, construction
      and commissioning of all ACI-50 cryogenic process plants throughout the world.
      Licensee
      ACI Tech
      shall
      make these records available, if requested to do so, to Owner/Licensor
      ACI AG
      on a
      quarterly basis.

     

    
      
         

      

      
        Page
          6 of
          12

        
          

        

      

      
         

      

    

     

    4.0. Improvements.

    

    4.1. Disclosure
      of Improvements.
      So long
      as Licensee
      ACI Tech
      is
      otherwise in the business of selling, manufacturing, constructing and
      commissioning ACI-50 cryogenic processing plants and products subject to this
      Agreement, Licensee
      ACI Tech
      shall
      promptly disclose to Owner/Licensor
      ACI AG
      any
      Improvements relevant to Owner/Licensor
      ACI AG
      Technology or Owner/Licensor
      ACI AG
      Software
      created by or for Licensee
      ACI Tech.
      Licensee
      ACI Tech
      shall
      provide to Owner/Licensor
      ACI AG reasonable
      assistance, at no cost to Owner/Licensor
      ACI AG,
      in
      transferring the informational and engineering details of such Improvements
      to
Owner/Licensor
      ACI AG.

    

    4.2. Improvement
      License.
      Licensee
      ACI Tech
      shall
      grant, and does hereby grant, to Owner/Licensor
      ACI AG
      a
      royalty-free, fully paid up, non-transferable, perpetual, non-sublicensable,
      worldwide, non-exclusive license to utilize or otherwise exploit
      Improvements.

    

    4.3. Delivery
      of Owner/Licensor
      ACI AG Software
      Source Code.
      It is
      agreed that Owner/Licensor
      ACI AG
      shall
      deliver to Licensee
      ACI Tech,
      within
      sixty (60) days after the effective date of this Agreement, a complete copy
      of
      the Source Code for all of the Owner/Licensor
      ACI AG
      Software. Thereafter, Licensee
      ACI Tech
      shall
      promptly deliver to Owner/Licensor
      ACI AG,
      upon
      request, a copy of any Source Code for any Improvement to the Owner/Licensor
      ACI AG
      Software
      that must be disclosed pursuant to Section 4.1 above.

    

    5.0. Confidential
      Information.

    

    5.1. Confidential
      Information.
      “Confidential
      Information”
means
      any information: (i) disclosed by one Party (the “Disclosing
      Party”)
      to the
      other (the “Receiving
      Party”)
      in
      written, graphic, machine-readable or other tangible form and marked as
“Confidential” or “Proprietary;” (ii) disclosed orally or by demonstration and
      identified at the time of initial disclosure as confidential or proprietary
      and
      subsequently summarized in writing and similarly marked and delivered to the
      Receiving Party within thirty (30) days of the initial disclosure; (iii) that
      at
      the time of disclosure the information is or should reasonably be known by
      the
      Receiving Party to be proprietary or confidential information of the Disclosing
      Party; or (iv) information that is otherwise deemed to be “Confidential
      Information” by the terms of this Agreement. Notwithstanding the foregoing,
      Confidential Information shall include without limitation: (a) information,
      technical data, and know-how that is not otherwise in the public domain
      immediately prior to the effective date of this Agreement that either Party
      undertakes to restrict or control the disclosure to third parties in a manner
      reasonably intended to maintain its confidentiality; and (b) information
      embodied in or learned from either party’s software and technology, whether or
      not marked. As used in this Section 5, the terms “Receiving Party” and
“Disclosing Party” may be understood to refer to and include Owner/Licensor
      ACI AG,
      Licensee
      ACI Tech,
      and any
      subsidiaries or contractors that either of these parties may have. 

    

    5.2. Confidential
      Information Exclusions.
      Confidential Information shall exclude information that the Receiving Party
      can
      demonstrate is: (i) in the public domain (through no unauthorized act or failure
      to act on the part of Receiving Party; (ii) known to the Receiving Party from
      a
      source other than the Disclosing Party (including former employees of the
      Disclosing Party); (iii) furnished to the Receiving Party by a third party
      as a
      matter of right and without restriction on disclosure; (iv) furnished to others
      by the Disclosing Party without restriction on disclosure; or (v) independently
      developed by the Receiving Party without use of the Disclosing Party’s
      Confidential Information. Nothing in this Agreement shall prevent the Receiving
      Party from disclosing Confidential Information to the extent that Receiving
      Party is legally compelled to do so by any court, administrative agency, or
      other governmental or investigative agency pursuant to proceedings over which
      such agency or court has jurisdiction. However, prior to any such disclosure,
      the Receiving Party shall: (a) assert the confidential nature of the
      Confidential Information to the agency or court; (b) immediately notify the
      Disclosing Party in writing of the agency’s or court’s order or request to
      disclose; and (c) cooperate fully with the Disclosing Party in protecting
      against any such disclosure and/or obtaining a protective order narrowing the
      scope of the compelled disclosure and protecting its
      confidentiality. 

     

    
      
         

      

      
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    5.3. Confidentiality
      Obligation.
      The
      Receiving Party shall treat as confidential all of the Disclosing Party’s
      Confidential Information and shall not use such information except as expressly
      permitted under this Agreement. Without limiting the foregoing, the Receiving
      Party shall use the same degree of care and means that it utilizes to protect
      its own information of a similar nature, but in no event less than reasonable
      care and means, to prevent the unauthorized use or the disclosure of such
      Confidential Information to third parties. The Confidential Information may
      be
      disclosed only to employees or contractors of the Receiving Party with a “need
      to know” who are instructed and agree not to disclose the Confidential
      Information and not to use the Confidential Information for any purpose except
      as set forth herein. The Receiving Party shall have appropriate written
      agreements with any such employees or contractors sufficient to comply with
      the
      provisions of this Agreement. A Receiving Party may not alter, de-compile,
      disassemble, reverse engineer, or otherwise modify any Confidential Information
      received hereunder and the mingling of the Confidential Information with
      information of the Receiving Party shall not affect the confidential nature
      or
      ownership of said Confidential Information. Subject to the foregoing,
Licensee
      ACI Tech
      shall
      have the right to use all Owner/Licensor
      ACI AG
      Confidential Information in accordance with the licenses granted pursuant to
      this Agreement.

    

    5.4. Confidentiality
      of Agreement.
      Each
      Party agrees that the terms and conditions, but not the existence, of this
      Agreement shall be treated as the other Party’s Confidential Information and
      that no reference to the commercial terms and conditions of this Agreement
      (or
      to activities pertaining thereto) may be made in any form of press release
      or
      public statement without first consulting the other Party. However, each Party
      may disclose the terms and conditions of this Agreement: (i) as may be required
      by law; (ii) to legal counsel of the Parties; (iii) in connection with the
      requirements of an initial public offering or securities filing; (iv) in
      confidence to accountants, banks, and financing sources, insurance organizations
      and their advisors; (v) in confidence in the connection with the enforcement
      of
      the terms of this Agreement; or (vi) in confidence in connection with a merger
      or acquisition or proposed merger or acquisition.

    

    5.5. No
      Confidential Information of Other Parties.
      Each
      Party represents and warrants to the other that it has not used and shall not
      use in the course of its performance of this Agreement the Confidential
      Information of any third party. The Parties further represent and warrant that
      to the extent a Party may, from time to time, be in possession of Confidential
      Information of a third party, this Confidential Information shall not be
      disclosed unless expressly authorized in writing by such third
      party.

    

    5.6. Public
      Announcements.
      The
      Parties agree to consult with each other before issuing any press release or
      making any public statement with respect to this Agreement, except as may be
      required by applicable law.

     

    
      
         

      

      
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    6.0. Representations,
      Warranties and Indemnities.

    

    6.1. Owner/Licensor
      ACI AG
      Representations.
      Owner/Licensor
      ACI AG
      hereby
      represents that it has the right to grant the licenses granted in this Agreement
      and that none of the licensing rights granted in this Agreement are currently
      granted to any other party.

    

    6.2. Warranty
      Disclaimers.
      Nothing
      set forth in this Agreement will be construed to be:

    

    (a) a
      warranty, representation or admission by Owner/Licensor
      ACI AG
      as to
      the validity, enforceability or scope of any Intellectual Property Right
      licensed or transferred hereunder;

    

    (b) a
      warranty or representation by Owner/Licensor
      ACI AG
      that the
      use of the Owner/Licensor
      ACI AG
      Intellectual Property Rights, Owner/Licensor
      ACI AG
      Technology and Owner/Licensor
      ACI AG Software for
      the
      manufacture, use, licensing, sale, importation or other exploitation of the
      Owner/Licensor
      ACI AG
      Intellectual Property Rights or the exercise of any license granted to
Licensee
      ACI Tech
      hereunder will be free from infringement of any intellectual property right
      of
      any third party; and 

    

    (c) an
      obligation on either Party to file any patent application or to secure any
      patent or to maintain any patent through the payment of patent maintenance
      fees.

    

    6.3. Owner/Licensor
      ACI AG
      Indemnification.
      Owner/Licensor
      ACI AG
      agrees
      to defend or at its option settle, any claim, suit or proceeding brought against
      Licensee
      ACI Tech
      to the
      extent arising out of any breach of the representations as set forth in Section
      6.1 above. Owner/Licensor
      ACI AG
      shall
      have the sole control of any such action or settlement negotiations and
Owner/Licensor
      ACI AG
      agrees
      to pay, subject to the limitations hereinafter set forth, any final judgment
      entered against Licensee
      ACI Tech
      in any
      such suit or proceeding defended by Owner/Licensor
      ACI AG.
      Licensee
      ACI Tech
      agrees
      that Owner/Licensor
      ACI AG
      at its
      sole option shall be relieved of the foregoing obligations unless Licensee
      ACI Tech
      notifies
Owner/Licensor
      ACI AG
      promptly
      in writing of such claim, suit or proceeding and gives Owner/Licensor
      ACI AG
      authority to proceed as contemplated herein. Licensee
      ACI Tech,
      at
Owner/Licensor
      ACI AG’s
      expense, shall also provide Owner/Licensor
      ACI AG
      full
      information and assistance to settle and/or defend any such claim, suit or
      proceeding. Owner/Licensor
      ACI AG
      shall
      not be liable for any costs or expenses incurred without its prior written
      authorization.

    

    6.4. Licensee
      ACI Tech
      Indemnification.
      Licensee
      ACI Tech
      shall
      indemnify and hold Owner/Licensor
      ACI AG
      harmless
      from and against any and all claims, losses, liabilities, demands, judgments,
      costs or expenses (including reasonable attorneys’ fees) arising out of or
      related to (i) any failure by Licensee
      ACI Tech
      to
      comply with any terms or conditions of this Agreement related to the permitted
      scope of use of the Owner/Licensor
      ACI AG
      Intellectual Property Rights, Technology or Software; (ii) any use of the
Owner/Licensor
      ACI AG
      Intellectual Property Rights, Technology or Software in combination with any
      third-party intellectual property; or (iii) any Improvements created by or
      for
Licensee
      ACI Tech.

    

    6.5. Owner/Licensor
      ACI AG
      DISCLAIMER.
      EXCEPT
      AS EXPRESSLY SET FORTH IN THIS AGREEMENT, (A) ALL OWNER/LICENSOR
      ACI AG
      TECHNOLOGY, OWNER/LICENSOR
      ACI AG
      SOFTWARE
      AND OWNER/LICENSOR INTELLECTUAL PROPERTY RIGHTS, AND ALL OTHER THINGS OR RIGHTS
      PROVIDED OR LICENSED BY OWNER/LICENSOR
      ACI AG
      TO
LICENSEE
      ACI TECH
      HEREUNDER, ARE PROVIDED BY OWNER/LICENSOR
      ACI AG“AS
      IS”
AND WITHOUT WARRANTY OF ANY KIND, AND (B) OWNER/LICENSOR
      ACI AG
      MAKES
      NO, AND HEREBY DISCLAIMS ALL, OTHER WARRANTIES, WHETHER EXPRESS, STATUTORY,
      OR
      IMPLIED, INCLUDING WARRANTIES OF NON-INFRINGEMENT, MERCHANTABILITY OR FITNESS
      FOR A PARTICULAR PURPOSE WITH RESPECT THERETO.

     

    
      
         

      

      
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    7.0. Limitations
      of Liability.

    

    7.1. Exclusion
      of Damages.
      EXCEPT
      FOR A BREACH OF SECTION 5, IN NO EVENT WILL EITHER PARTY BE LIABLE TO THE OTHER
      PARTY FOR LOST PROFITS, COST OF PROCUREMENT OF SUBSTITUTE GOODS, OR FOR ANY
      INDIRECT, SPECIAL, RELIANCE, INCIDENTAL OR CONSEQUENTIAL DAMAGES, WHETHER BASED
      ON BREACH OF CONTRACT, TORT (INCLUDING NEGLIGENCE), PRODUCT LIABILITY, OR
      OTHERWISE, AND WHETHER OR NOT THE OTHER PARTY HAS BEEN ADVISED OF THE
      POSSIBILITY OF SUCH DAMAGE.

    

    7.2. Failure
      of Essential Purpose.
      The
      limitations specified in this Section 7 shall survive and apply even if any
      limited remedy specified in this Agreement is found to be
      unenforceable.

    

    8.0. Term
      and Termination.

    

    8.1. Term.
      The
      term of this Agreement shall begin on the effective date first mentioned above
      and continue for the entire Royalty Term unless this Agreement is terminated
      pursuant to Section 8.2.

    

    8.2. Termination.
      Owner/Licensor
      ACI AG
      may
      terminate this Agreement and all licenses to Licensee
      ACI Tech
      hereunder in the event of a material breach of the terms of this Agreement
      by
Licensee
      ACI Tech
      that is
      not cured within thirty (30) days of written notice of such breach. Any licenses
      under this Agreement to Owner/Licensor
      ACI AG
      of any
Licensee
      ACI Tech
      Intellectual Property, Technology or Software will survive such termination.
      Any
      sublicense agreement in effect at the time of termination shall remain in full
      force and effect but Owner/Licensor
      ACI AG
      shall
      assume all rights and responsibilities of Licensee
      ACI Tech
      under
      the terms of said sublicense agreement.

    

    8.3. Effect
      of Termination or Expiration.
      Upon
      termination or expiration of this Agreement for any reason, each Party shall
      immediately destroy or return to the other Party all tangible items in its
      possession or control that embody Confidential Information of such other
      Party.

    

    8.4. Survival.
      The
      provisions of Sections 1, 4.2, 4.3, 5, 6, 7, 8.3, 8.4, and 9 shall survive
      the
      termination or expiration of this Agreement for any reason.

    

    9.0. General
      Provisions.

    

    9.1. Notices.
      All
      notices, requests and other communications to any Party hereunder shall be
      in
      writing (including facsimile transmission) and shall be sent to the signatories
      of this Agreement at their respective primary place of business. All such
      notices, requests and other communications shall be deemed received on the
      date
      of the receipt by the Receiving Party if received prior to 17:00 hours (5:00
      p.m.) in the place of receipt and such day is a business day in the place of
      receipt. Otherwise, any such notice, request or communication shall be deemed
      received on the next succeeding business day in the place of
      receipt.

     

    
      
         

      

      
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    9.2. Amendments
      and Waivers.

    

    (a) Any
      provision of this Agreement may be amended or waived if, but only if, such
      amendment or waiver is in writing and is signed, in the case of an amendment
      by
      each Party to this Agreement, or in the case of a waiver by the Party against
      whom the waiver is to be effective.

    

    (b) No
      failure or delay by any Party in exercising any right, power or privilege
      hereunder shall operate as a waiver thereof nor shall any single or partial
      exercise thereof preclude any or other further exercise thereof or the exercise
      of any other right, power or privilege. The rights and remedies herein provided
      shall be cumulative and not exclusive of any rights or remedies provided by
      law.

    

    9.3. Expenses.
      All
      costs and expenses incurred in connection with this Agreement shall be paid
      by
      the Party incurring such cost or expense.

    

    9.4. Successors
      and Assigns.
      The
      provisions of this Agreement shall be binding upon and inure to the benefit
      of
      the Parties hereto and their respective successors and assigns; provided that
      no
      Party may assign, delegate or otherwise transfer any of its rights or
      obligations under this Agreement without the prior written consent of the other
      Party hereto.

    

    9.5. Governing
      Law.
      This
      Agreement shall be governed by and construed in accordance with the laws of
      Germany, without regard to the conflicts of law rules that may exist under
      German law.

    

    9.6. Counterparts;
      third Party Beneficiaries.
      This
      Agreement may be signed in any number of counterparts, each of which shall
      be an
      original, with the same effect as if the signatures were upon the same
      instrument. This Agreement shall become effective when each Party shall have
      received a counterpart of this Agreement signed by the other Party. No provision
      of this Agreement is intended to confer upon any person or entity other than
      the
      Parties to this Agreement any rights or remedies hereunder.

    

    9.7. Entire
      Agreement; Severability.
      This
      Agreement constitutes the entire agreement between the Parties with respect
      to
      the subject matter of this Agreement and supercedes all prior agreements and
      understandings, both oral and written, between the Parties with respect to
      the
      subject matter of this Agreement. If at any time subsequent to the effective
      date hereof any term or provision of this Agreement shall be determined to
      be
      partially or wholly illegal, void or unenforceable, such provision shall be
      of
      no force and effect to the extent so determined, but the illegality or
      unenforceability of such term or provision shall have no effect upon and shall
      not impair the legality or enforceability of any other term or provision of
      this
      Agreement.

    

    9.8. Captions.
      The
      captions herein are included for convenience of reference only and shall be
      ignored in the construction or interpretation of this Agreement.

     

    
      
         

      

      
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    9.9. Representation
      by Counsel; Interpretation.
      Owner/Licensor
      ACI AG
      and
Licensee
      ACI Tech
      each
      acknowledge that they have been represented by counsel in connection with this
      Agreement, or has had opportunity to seek legal counsel and has voluntarily
      elected not to do so. Accordingly, any rule of law or any legal decision that
      would require interpretation of any claimed ambiguities in this Agreement
      against the Party that drafted it has no application and is expressly waived.
      The provisions of this Agreement shall be interpreted in a reasonable manner
      to
      effect the intent of Owner/Licensor
      ACI AG
      and
Licensee
      ACI Tech.

    

    9.10. Consent
      to Jurisdiction.
      Each of
      the Parties agrees that all actions, suits or proceedings arising out of or
      based upon this Agreement or the subject matter hereof shall be brought and
      maintained exclusively in the applicable court located in Berlin,
      Germany.

     

    9.11. Injunctive
      Relief.
      It is
      understood and agreed that, notwithstanding any other provision of this
      Agreement, either Party’s breach of confidentiality obligations or provisions
      relating to proprietary rights will cause irreparable damage for which recovery
      of money damages would be inadequate, and that the other Party will therefore
      be
      entitled to seek timely, injunctive relief to protect such Party’s rights under
      this Agreement in addition to any and all remedies available at law. Each Party
      further agrees that no bond or other security shall be required in obtaining
      such equitable relief, nor will proof of actual damages be required for such
      equitable relief. Each Party hereby expressly consents to the issuance of such
      injunction and to the ordering of such specific performance.

    

    IN
      WITNESS WHEREOF,
      the
      Parties, by their duly authorized representatives, have executed this Agreement
      as of the effective date first set forth above.

    

    

      
        	
                For
                  ACI
                  Corporation AG:

              	
                For
                  ACI
                  Technologies, Ltd.:

              
	 	 
	
                

              	
                

              
	
                By:
                  ______________________________

              	
                By:
                  _____________________________

              
	
                Michael
                  Howarth,

              	
                Scott
                  Frickman

              
	
                Managing
                  Director

              	
                Director

              

      

    

     

     

    
      
         

      

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