Document:

EXHIBIT 10.3 - EMPLOYMENT AGREEMENT

 

 

 Exhibit 10.3
 EMPLOYMENT AGREEMENT
 

 This employment agreement (this "Agreement") dated as of September 1, 2012 (the "Effective Date"), is made by and between Cyto Wave Technologies Inc., a Delaware corporation (the "Company") and George Yu (the “Executive”) (collectively, the “Parties”).
 

 WHEREAS, the Company is in the business (the “Business”) of developing medical devices that allow the detection, capture and targeted destruction of metastatic circulating tumor cells and in order to help pursue its business objectives, comply, satisfy and maintain the Company’s reporting obligations in the United States, requires the skills, advice and supervision of a suitable President and Chief Executive Officer;
 

 WHEREAS, the Executive will have the duties and responsibilities as described in Section 1 of the Agreement during the period when the Executive is the President and Chief Executive Officer of the Company; and
 

 WHEREAS, the Parties wish to establish the terms of the Executive’s employment with the Company;
 

 NOW, THEREFORE, in consideration of the foregoing, of the mutual promises contained herein and of other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties, intending to be legally bound, hereby agree as follows:
 

 1.
 POSITION/DUTIES.
 

 (a)
 During the Employment Term (as defined in Section 2 below), the Executive shall serve as the President and Chief Executive Officer of the Company. In this capacity the Executive shall be responsible for the following:
 

 (i)
 assisting the Company with its management and business operations and policies;
 

 (ii)
 assisting the CFO with establishing and maintaining proper internal financial controls;
 

 (iii)
 identifying projects that fall within the ambit of the Company’s Business and which may enhance shareholder value for the Company;
 

 (iv)
 communicating with the media and all financial institutions with a view to enhancing and promoting the image of the Company;
 

 

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 (v)
 developing all aspects of any program in connection with the development and the financing of the development of the Business;
 

 (vi)
 creating, developing, coordinating and managing any and all development and financing programs in respect of the Business and each of their proposed or potential commercial applications together with all capital funding projects and resources which are, or which may be, necessarily incidental thereto;
 

 (vii)
 negotiating all proposed or potential joint venture and/or financing arrangements in connection with the ongoing development of the Business and each of their proposed or potential commercial applications;
 

 (viii)
 preparing and disseminating any and all business plans, news releases and special shareholder or investment reports for the Company, or for any of the Company’s subsidiaries, as the case may be and as may be determined by the Company in its sole and absolute discretion, and in connection with the ongoing development and financing of the Business;
 

 (ix)
 setting up of all corporate alliances for the Company, or for any of the Company’s subsidiaries, as the case may be and as may be determined by the Company in its sole and absolute discretion, with all potential and strategic business and financial partners for the purposes of the ongoing development and financing of the Business; 
 

 (x)
 assisting with other development and financing services in connection with the Business as may be directed, from time to time, by the Board of Directors of the Company in its sole and absolute discretion;
 

 (xi)
 assisting the Company with its reporting requirements and provide managerial advice, including preparation of quarterly and annual reports as required under Sections 13(d) and 15 of the Securities and Exchange Act of 1934, as amended;
 

 (xii)
 assisting with establishing accounting procedures and policies as well as establishing and maintaining internal financial controls and procedures; and
 

 (xiii)
 such other assistances as the board may reasonably request.
 

 (b)
 During the Employment Term, the Executive shall report directly to the Board of Directors of the Company. The Executive shall obey the lawful directions of the Board of Directors and shall use his diligent efforts to promote the interests of the Company and to maintain and promote the reputation thereof.  
 

 (c)
 During the Employment Term, the Executive shall use his best efforts to perform his duties under this Agreement.
   
 

 

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 2.
 EMPLOYMENT TERM.  Except for earlier termination as provided in Section 6, the Executive's employment under this Agreement shall be for two (2) years starting on the Effective Date and ending on August 31, 2014 (the "Initial Term"). Subject to Section 6, this Agreement shall renew automatically for subsequent one-year periods (each an “Additional Term”). Renewal shall be on the same terms and conditions contained herein, unless modified and agreed to in writing by the Parties, and this Agreement shall remain in full force and effect (with any collateral written amendments) without the necessity to execute a new document. A Party hereto determining not to renew agrees to notify the other Parties hereto in writing at least 60 calendar days prior to the end of the Initial Term or Additional Term of its intent not to renew this Agreement (the “Non-Renewal Notice”).  
 

 

 3.
 COMPENSATION.  In consideration of the services to be rendered hereunder, the Company hereby agrees to pay the Executive an annual base salary of US$5,000 per month payable on the first day of each calendar month (the “Base Salary”).  
 

 

 4.
 EXPENSES.  Upon presentation of appropriate documentation, the Executive shall be reimbursed for all reasonable and necessary business and entertainment expenses, including business related travel expenses, incurred in connection with the performance of his duties hereunder, all in accordance with the Company's expense reimbursement policy applicable to senior executives. 
 

 

 5.
 TERMINATION.  The Executive's employment and the Employment Term shall terminate on the first of the following to occur:
 

 (a)
 Disability.  The thirtieth (30th) day following a written notice of termination by the Company to the Executive due to Disability. For purposes of this Agreement, "Disability" shall mean a determination  by the Company in accordance with applicable law that due to a physical or mental injury, infirmity or incapacity, the Executive is unable to perform the essential functions of his job with or without accommodation for 180 days (whether or not consecutive) during any 12-month period.
 

 (b)
 Death.  Automatically on the date of death of the Executive.
 

 (c)
 Cause.  Immediately upon written notice of termination by the Company to the Executive for Cause. "Cause" shall mean, as determined by the Board (or its designee) (1) conduct by the Executive in connection with his employment duties or responsibilities that is fraudulent, unlawful or grossly negligent; (2) the willful misconduct of the Executive; (3) the willful and continued failure of the Executive to perform the Executive's duties with the Company (other than any such failure resulting from incapacity due to physical or mental illness); (4) the commission by the Executive of any felony or any crime involving moral turpitude; (5) violation of any material policy of the Company or any material provision of the Company's code of conduct, employee handbook or similar documents; or (6) any material 
 

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 breach by the Executive of any provision of this Agreement or any other written agreement entered into by the Employee with the Company.  
 

 (d)
 Without Cause.  On the sixtieth (60th) day following delivery of a Non-Renewal Notice or other written notice by either Party to the other Party without Cause, other than for death or Disability of the Executive.  
 

 

 6.
 CONSEQUENCES OF TERMINATION.
 

 (a)
 Disability.  Upon termination of the Employment Term because of the Executive's Disability, the Company shall pay or provide to the Executive (1) any unpaid Base Salary through the date of termination; (2) reimbursement for any unreimbursed expenses properly incurred through the date of termination.  
 

 (b)
 Death.  Upon the termination of the Employment Term because of the Executive's death, the Executive's estate shall be entitled to (1) any unpaid Base Salary through the date of termination; (2) reimbursement for any unreimbursed expenses properly incurred through the date of termination.  
 

 (c)
 Termination for Cause. Upon the termination of the Employment Term by the Company for Cause or by either party in connection with a failure to renew this Agreement, the Company shall pay to the Executive (1) any unpaid Base Salary through the date of termination; (2) reimbursement for any unreimbursed expenses properly incurred through the date of termination.  
 

 (d)
 Termination without Cause.  Upon the termination of the Employment Term by the Company without Cause, the Company shall pay or provide to the Executive (1) any unpaid Base Salary through the date of termination; (2) reimbursement for any unreimbursed expenses properly incurred through the date of termination.  
 

 

 7.
 NO ASSIGNMENT.  This Agreement is personal to each of the Parties.  Except as provided below, no Party may assign or delegate any rights or obligations hereunder without first obtaining the written consent of the other Party hereto; provided, however, that the Company may assign this Agreement to any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of the business or assets of the Company.
 

 

 8.
 NOTICES. For the purpose of this Agreement, notices and all other communications provided for in this Agreement shall be in writing and shall be deemed to have been duly given (1) on the date of delivery if delivered by hand, (2) on the date of transmission, if delivered by confirmed facsimile or email, (3) on the first business day following the date of deposit if delivered by guaranteed overnight delivery service, or (4) on the fourth business day 
 

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 following the date delivered or mailed by United States registered or certified mail, return receipt requested, postage prepaid, addressed as follows:
 

 If to the Executive: 
 

 George Yu
 201 Spear Street, Suite 1100
 San Francisco, CA  94105
 

 If to the Company:
 

 Cyto Wave Technologies, Inc.
 201 Spear Street, Suite 1100
 San Francisco, CA  94105
 

 

 or to such other address as either Party may have furnished to the other in writing in accordance herewith, except that notices of change of address shall be effective only upon receipt.
 

 

 9.
 PROTECTION OF THE COMPANY'S BUSINESS.
 

 (a)
 Confidentiality.  The Executive acknowledges that during the course of his employment by the Company (prior to and during the Employment Term) he has and will occupy a position of trust and confidence. The Executive shall hold in a fiduciary capacity for the benefit of the Company and shall not disclose to others or use, whether directly or indirectly, any Confidential Information regarding the Company, except (i) as in good faith deemed necessary by the Executive to perform his duties hereunder, (ii) to enforce any rights or defend any claims hereunder or under any other agreement to which the Executive is a party, provided that such disclosure is relevant to the enforcement of such rights or defense of such claims and is only disclosed in the formal proceedings related thereto, (iii) when required to do so by a court of law, by any governmental agency having supervisory authority over the business of the Company or by any administrative or legislative body (including a committee thereof) with jurisdiction to order him to divulge, disclose or make accessible such information, provided that the Executive shall give prompt written notice to the Company of such requirement, disclose no more information than is so required, and cooperate with any attempts by the Company to obtain a protective order or similar treatment, (iv) as to such Confidential Information that shall have become public or known in the Company's industry other than by the Executive's unauthorized disclosure, or (v) to the Executive's spouse, attorney and/or his personal tax and financial advisors as reasonably necessary or appropriate to advance the Executive's tax, financial and other personal planning (each an "Exempt Person"), provided, however, that any disclosure or use of Confidential Information by an Exempt Person shall be deemed to be a breach of this Section 9(a) by the Executive. The Executive shall take all reasonable steps to safeguard the Confidential Information and to protect it against disclosure, misuse, espionage, loss and theft.  The Executive understands and agrees that the Executive shall acquire no rights to any such Confidential Information. "Confidential Information" shall mean information about the 
 

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 Company, its subsidiaries and affiliates, and their respective clients and customers that is not disclosed by the Company and that was learned by the Executive in the course of his employment by the Company, including, but not limited to, any proprietary knowledge, trade secrets, data and databases, formulae, sales, financial, marketing, training and technical information, client, customer, supplier and vendor lists, competitive strategies, computer programs and all papers, resumes, and records (including computer records) of the documents containing such Confidential Information.
 

 (b)
 Property.  The Executive acknowledges that all originals and copies of materials, records and documents generated by him or coming into his possession during his employment by the Company or its subsidiaries are the sole property of the Company and its subsidiaries ("Company Property").  During the Employment Term, and at all times thereafter, the Executive shall not remove, or cause to be removed, from the premises of the Company or its subsidiaries, copies of any record, file, memorandum, document, computer related information or equipment, or any other item relating to the business of the Company or its subsidiaries, except in furtherance of his duties under this Agreement.  When the Executive's employment with the Company terminates, or upon request of the Company at any time, the Executive shall promptly deliver to the Company all copies of Company Property in his possession or control.
 

 (c)
 Non-Disparagement.  Executive shall not, and shall not induce others to, Disparage the Company or its subsidiaries or affiliates or their past and present officers, directors, employees or products. "Disparage" shall mean making comments or statements to the press, the Company's or its subsidiaries' or affiliates' employees or any individual or entity with whom the Company or its subsidiaries or affiliates has a business relationship which would adversely affect in any manner (1) the business of the Company or its subsidiaries or affiliates (including any products or business plans or prospects), or (2) the business reputation of the Company or its subsidiaries or affiliates, or any of their products, or their past or present officers, directors or employees.
 

 (d)
 Cooperation.  Subject to the Executive's other reasonable business commitments, following the Employment Term, the Executive shall be available to cooperate with the Company and its outside counsel and provide information with regard to any past, present, or future legal matters which relate to or arise out of the business the Executive conducted on behalf of the Company and its subsidiaries and affiliates, and, upon presentation of appropriate documentation, the Company shall compensate the Executive for any out-of-pocket expenses reasonably incurred by the Executive in connection therewith.
 

 (e)
 Liability.
 Notwithstanding the provisions in this Section 9 the Executive shall not be liable for any mistakes of fact, errors of judgment, for losses sustained by the Company or any subsidiary, or for any acts or omissions of any kind, unless caused by the Executive’s intentional violation of the law.
 

 (f)
 Survival of Provisions.  The obligations contained in this Section 9 shall survive in accordance with their terms the termination or expiration of the Executive's employment with the Company and shall be fully enforceable thereafter.
 

 

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 10.
 INDEMNIFICATION.  The Company agrees to indemnify the Executive from and against any and all losses, claims, damages and liabilities, joint and several (collectively, “Losses”), to which the Executive may become subject under any applicable federal or state law, arising from or related to the Executive’s positions, conducts, activities, duties, or omissions at the Company; provided that the Company will not be liable to the extent that any Loss is found in a final judgment in a court to have resulted primarily from the Executive’s intentional violation of the law.  The Company will reimburse the Executive for all expenses (including reasonable counsel fees and expenses) as such may be incurred in connection with the investigation of or preparation for or defense of any pending or threatened claim or any action or proceeding arising thereof, whether or not such the Company is a party.  The indemnification provided for in this Agreement shall be in addition to any rights that the Executive may have at common law or otherwise.
  
 11.
 SECTION HEADINGS AND INTERPRETATION. The section headings used in this Agreement are included solely for convenience and shall not affect, or be used in connection with, the interpretation of this Agreement. Expressions of inclusion used in this agreement are to be understood as being without limitation.
 

 12.
 SEVERABILITY.  The provisions of this Agreement shall be deemed severable and the invalidity of unenforceability of any provision shall not affect the validity or enforceability of the other provisions hereof.  
 

 13.
 COUNTERPARTS.  This Agreement may be executed in several counterparts, each of which shall be deemed to be an original but all of which together will constitute one and the same Agreement.
 

 14.
 GOVERNING LAW AND VENUE.  The validity, interpretation, construction and performance of this Agreement shall be governed by the laws of the State of Delaware without regard to its conflicts of law principles. The Parties agree irrevocably to submit to the exclusive jurisdiction of the courts located in the State of Delaware, for the purposes of any suit, action or other proceeding brought by any Party arising out of any breach of any of the provisions of this Agreement and hereby waive, and agree not to assert by way of motion, as a defense or otherwise, in any such suit, action, or proceeding, any claim that it is not personally subject to the jurisdiction of the above-named courts, that the suit, action or proceeding is brought in an inconvenient forum, that the venue of the suit, action or proceeding is improper, or that the provisions of this Agreement may not be enforced in or by such courts. 
 

 15.
 ENTIRE AGREEMENT. This Agreement contains the entire agreement between the Parties with respect to the subject matter hereof and supersedes all prior agreements, written or oral, with respect thereto. No agreements or representations, oral or otherwise, express or implied, with respect to the subject matter hereof have been made by either party which are not expressly set forth in this Agreement.
 

 16.
 WAIVER AND AMENDMENT.  No provision of this Agreement may be modified, amended, waived or discharged unless such waiver, modification, amendment or discharge is agreed to in writing and signed by the Executive and such officer or director as may 
 

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 be designated by the Board. No waiver by either Party at any time of any breach by the other Party hereto of, or compliance with, any condition or provision of this Agreement to be performed by such other Party shall be deemed a waiver or similar or dissimilar provisions or conditions at the same or at any prior or subsequent time.  
 

 17.
 WITHHOLDING. The Company may withhold from any and all amounts payable under this Agreement such federal, state, local and foreign taxes as may be required to be withheld pursuant to any applicable law or regulation.
 

 18.
 AUTHORITY AND NON-CONTRAVENTION.  The Executive represents and warrants to the Company that he has the legal right to enter into this Agreement and to perform all of the obligations on his part to be performed hereunder in accordance with its terms and that he is not a party to any agreement or understanding, written or oral, which could prevent him form entering into this Agreement or performing all of his obligations hereunder.
 

 19.
 COUNTERPARTS.  This Agreement may be executed in counterparts, each of which shall be deemed an original but all of which shall constitute one and the same instrument.
 

 

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 IN WITNESS WHEREOF, the Parties have executed this Agreement as of the date first written above.
 

 

 CYTO WAVE TECHNOLOGIES, INC.
 

 

 /s/ Brent Suen_____________________________
 By:
 Brent Suen
 Title:
 Director of the Board
 

 

 EXECUTIVE 
 

 

 /s/ George Yu_____________________________
 By:
 George Yu
 

 9EXHIBIT 10.4 - SHARE PURCHASE AGREEMENT

  
 Exhibit 10.4
 SHARE PURCHASE AGREEMENT
 This Share Purchase Agreement (this “Agreement”) is dated as of _________, among Cyto Wave Technologies Inc., a Delaware corporation (the “Company”), and ________ (the “Investor”).
 WHEREAS, subject to the terms and conditions set forth in this Agreement, the Company desires to issue and sell to the Investor, and the Investor desires to purchase from the Company certain shares of common stock of the Company, as more fully described in this Agreement.
 NOW, THEREFORE, IN CONSIDERATION of the mutual covenants contained in this Agreement, and for other good and valuable consideration the receipt and adequacy of which are hereby acknowledged, the Company and the Investors agree as follows:
 ARTICLE 1.
DEFINITIONS
 1.1.
 Definitions.  In addition to the terms defined elsewhere in this Agreement, for all purposes of this Agreement, the following terms shall have the meanings indicated in this Section 1.1:
 

 “Action” means any action, suit, inquiry, notice of violation, proceeding (including any partial proceeding such as a deposition) or investigation pending or threatened in writing against or affecting the Company, any Subsidiary or any of their respective properties before or by any court, arbitrator, governmental or administrative agency or regulatory authority (federal, state, county, local or foreign).
  “Business Day” means any day except Saturday, Sunday and any day which is a federal legal holiday or a day on which banking institutions in the State of Delaware are authorized or required by law or other governmental action to close.
  “Closing” means the closing of the purchase and sale of the Shares pursuant to Article 2.
 “Common Stock” means the common stock of the Company, par value $0.00 per share, and any securities into which such common stock may hereafter be reclassified.
 “Intellectual Property Rights” has the meaning set forth in Section 3.1(h).
 “Investor Deliverables” has the meaning set forth in Section 2.3.
 “Person” means an individual or corporation, partnership, trust, incorporated or unincorporated association, joint venture, limited liability company, joint stock company, government (or an agency or subdivision thereof) or other entity of any kind.
  “Proceeding” means an action, claim, suit, investigation or proceeding (including, without limitation, an investigation or partial proceeding, such as a deposition), whether commenced or threatened.
 

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  “Transaction Documents” means this Agreement and any other documents or agreements executed in connection with the transactions contemplated hereunder.
 ARTICLE 2.
PURCHASE AND SALE
 2.1
 Purchase and Sale.  Subject to the terms and conditions set forth in this Agreement, on the Closing Date, the Company agrees to issue and sell to the Investor, and the Investor agrees to purchase from the Company, _______ shares of the Company’s common stock, par value $0.0001 per share (the “Shares”), at a purchase price of $___ per share, or an aggregate amount of $_______ (the “Purchase Price”).   
 

 2.3
 Closing.  The Closing shall take place on the Closing Date at such location as the parties may agree.
 

 2.4.
 Deliveries. At the Closing, (a) the Company shall deliver or cause to be delivered to the Investor evidence of the delivery of Shares to the Investor (the “Company Deliverables”); and (b)  the Investor shall deliver or cause to be delivered to the Company, the Purchase Price, in United States dollars and in immediately available funds, by wire transfer to an account designated in writing by the Company for such purpose (the “Investor Deliverables”).
 

 ARTICLE 3.
REPRESENTATIONS AND WARRANTIES
 3.1.
 Representations and Warranties of the Company.  The Company hereby makes the following representations and warranties to the Investor:
 

 (a)
 Subsidiaries.  The Company has no direct or indirect Subsidiaries.
   
 (b)
 Organization and Qualification.  The Company is incorporated or otherwise organized, validly existing and in good standing under the laws of the jurisdiction of its incorporation or organization (as applicable), with the requisite power and authority to own and use its properties and assets and to carry on its business as currently conducted.  The Company is not in violation of any of the provisions of its respective certificate or articles of incorporation, bylaws or other organizational or charter documents. 
 

 (c)
 Authorization; Enforcement.  The Company has the requisite corporate power and authority to enter into and to consummate the transactions contemplated by each of the Transaction Documents and otherwise to carry out its obligations thereunder.  The execution and delivery of each of the Transaction Documents by the Company and the consummation by it of the transactions contemplated thereby have been duly authorized by all necessary action on the part of the Company and no further action is required by the Company in connection therewith.  Each Transaction Document has been (or upon delivery will have been) duly executed by the Company and, when delivered in accordance with the terms hereof, will constitute the valid and binding obligation of the Company enforceable against the Company in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium, liquidation or similar laws relating to, or affecting 
 

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 generally the enforcement of, creditors’ rights and remedies or by other equitable principles of general application.
 (d)
 No Conflicts.  The execution, delivery and performance of the Transaction Documents by the Company and the consummation by the Company of the transactions contemplated thereby do not and will not (i) conflict with or violate any provision of the Company’s certificate or articles of incorporation, bylaws or other organizational or charter documents, or (ii) conflict with, or constitute a default (or an event that with notice or lapse of time or both would become a default) under, or give to others any rights of termination, amendment, acceleration or cancellation (with or without notice, lapse of time or both) of, any agreement, credit facility, debt or other instrument (evidencing a Company debt) or other understanding to which the Company is a party or by which any property or asset of the Company is bound or affected, or (iii) result in a violation of any United States law, rule, regulation, order, judgment, injunction, decree or other restriction of any court or governmental authority to which the Company is subject (including federal and state securities laws and regulations), or by which any property or asset of the Company is bound or affected.
 (e)
 Issuance of the Shares.  The Shares have been duly authorized and, when issued and paid for in accordance with the Transaction Documents, will be duly and validly issued, fully paid and nonassessable, free and clear of all Liens.  The Company has reserved from its duly authorized capital stock the shares of Common Stock issuable pursuant to this Agreement in order to issue the Shares.
 (f)
 Capitalization.  The number of shares and type of all authorized, issued and outstanding capital stock of the Company, and all shares of Common Stock reserved for issuance under the Company’s various option and incentive plans, have been authorized by the Company’s Board of Directors.  No securities of the Company are entitled to preemptive or similar rights, and no Person has any right of first refusal, preemptive right, right of participation, or any similar right to participate in the transactions contemplated by the Transaction Documents.  There are no outstanding options, warrants, scrip rights to subscribe to, calls or commitments of any character whatsoever relating to, or securities, rights or obligations convertible into or exchangeable for, or giving any Person any right to subscribe for or acquire, any shares of Common Stock, or contracts, commitments, understandings or arrangements by which the Company or any Subsidiary is or may become bound to issue additional shares of Common Stock, or securities or rights convertible or exchangeable into shares of Common Stock.  The issue and sale of the Shares will not, immediately or with the passage of time, obligate the Company to issue shares of Common Stock or other securities to any Person (other than the Investors) and will not result in a right of any holder of Company securities to adjust the exercise, conversion, exchange or reset price under such securities.
 (g)
 Litigation.  There is no Action which adversely affects or challenges the legality, validity or enforceability of any of the Transaction Documents or the Shares.  
 (h)
 Patents and Trademarks.  The Company has rights to use, all patents, patent applications, trademarks, trademark applications, service marks, trade names, copyrights, licenses and other similar rights that are necessary or material for use in connection with their respective businesses and which the failure to so have could, individually or in the aggregate, have or reasonably be expected to result in a Material Adverse Effect (collectively, the “Intellectual Property Rights”).  The Company has not received a written notice that the Intellectual Property Rights used by the Company violates or infringes upon the rights of any Person.  To the knowledge of the Company, all such Intellectual Property Rights are enforceable and there is no existing infringement by another Person of any of the Intellectual Property Rights.
 

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 (i)
 Certain Fees.   No brokerage or finder’s fees or commissions are or will be payable by the Company to any broker, financial advisor or consultant, finder, placement agent, investment banker, bank or other Person with respect to the transactions contemplated by this Agreement.  The Investors shall have no obligation with respect to any fees or with respect to any claims (other than such fees or commissions owed by the Investor pursuant to written agreements executed by the Investor which fees or commissions shall be the sole responsibility of the Investor) made by or on behalf of other Persons for fees of a type contemplated in this Section that may be due in connection with the transactions contemplated by this Agreement. 
 (j)
 No Additional Agreements.  The Company does not have any agreement or understanding with the Investor with respect to the transactions contemplated by the Transaction Documents other than as specified in the Transaction Documents.
 
 3.2.
 Representations and Warranties of the Investor.  The Investor hereby represents and warrants to the Company as follows:
 

 (a)
 Investment Intent.  The Investor is acquiring the Shares as principal for its own account for investment purposes only and not with a view to or for distributing or reselling such Shares or any part thereof, without prejudice, however, to the Investor’s right at all times to sell or otherwise dispose of all or any part of such Shares in compliance with applicable federal and state securities laws.  Subject to the immediately preceding sentence, nothing contained herein shall be deemed a representation or warranty by the Investor to hold the Shares for any period of time.  The Investor is acquiring the Shares hereunder in the ordinary course of its business. The Investor does not have any agreement or understanding, directly or indirectly, with any Person to distribute any of the Shares.
 (b)
 Independent Investment Decision.  The Investor has independently evaluated the merits and risks of its decision to purchase Shares pursuant to the Transaction Documents, and hereby acknowledges that its purchase of the Shares is consistent with its general investment objectives.  The Investor and/or its representatives has such knowledge and experience in financial and business matters that it can represent itself and is capable of evaluating the merits and risks of the purchase of the Shares.  
 ARTICLE 4.
MISCELLANEOUS
 4.1.
 Fees and Expenses.  Each party shall pay the fees and expenses of its advisers, counsel, accountants and other experts, if any, and all other expenses incurred by such party incident to the negotiation, preparation, execution, delivery and performance of the Transaction Documents.  The Company shall pay all stamp and other taxes and duties levied in connection with the issuance of the Shares.
 

 4.2.
 Entire Agreement.  The Transaction Documents, together with the Exhibits and Schedules thereto, contain the entire understanding of the parties with respect to the subject matter hereof and supersede all prior agreements, understandings, discussions and representations, oral or written, with respect to such matters, which the parties acknowledge have been merged into such documents, exhibits and schedules.
 

 4.3.
 Notices.  Any and all notices or other communications or deliveries required or permitted to be provided hereunder shall be in writing and shall be deemed given and effective on the earliest of the date of transmission.  The address for such notices and communications shall be as follows:
 

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 If to the Company:
 

 Cyto Wave Technologies Inc.
 201 Spear Street, Suite 1100 
 San Francisco, CA 94105
 Attn: President & Chief Executive Officer
  
 If to the Investor:
 

 To the address set forth under the Investor’s name on the signature pages hereof;
 or such other address as may be designated in writing hereafter, in the same manner, by such Person.
 4.4.
 Amendments; Waivers; No Additional Consideration.  No provision of this Agreement may be waived or amended except in a written instrument signed by the Company and the Investor.  No waiver of any default with respect to any provision, condition or requirement of this Agreement shall be deemed to be a continuing waiver in the future or a waiver of any subsequent default or a waiver of any other provision, condition or requirement hereof, nor shall any delay or omission of either party to exercise any right hereunder in any manner impair the exercise of any such right.   
 

 4.5.
 Construction.  The headings herein are for convenience only, do not constitute a part of this Agreement and shall not be deemed to limit or affect any of the provisions hereof.  The language used in this Agreement will be deemed to be the language chosen by the parties to express their mutual intent, and no rules of strict construction will be applied against any party.  This Agreement shall be construed as if drafted jointly by the parties, and no presumption or burden of proof shall arise favoring or disfavoring any party by virtue of the authorship of any provisions of this Agreement or any of the Transaction Documents.
 

 4.6.
 Successors and Assigns.  This Agreement shall be binding upon and inure to the benefit of the parties and their successors and permitted assigns.  The Company may not assign this Agreement or any rights or obligations hereunder without the prior written consent of the Investor. –The Investor may assign any or all of its rights under this Agreement to any Person to whom it assigns or transfers any Shares, provided such transferee agrees in writing to be bound, with respect to the transferred Shares, by the provisions hereof that apply to the “Investor.”
 

 4.7.
 No Third-Party Beneficiaries.  This Agreement is intended for the benefit of the parties hereto and their respective successors and permitted assigns and is not for the benefit of, nor may any provision hereof be enforced by any other Person.
 

 4.8.
 Governing Law.  All questions concerning the construction, validity, enforcement and interpretation of this Agreement shall be governed by and construed and enforced in accordance with the laws of the State of Delaware without giving effect to choice of laws principles or conflict of laws provisions thereof.  The parties hereby irrevocably consent and submit to the jurisdiction of the state and federal courts located in the State of Delaware for all purposes, including the enforcement of a judgment of an arbitration award resulting from any arbitration pursuant hereto.  Investor hereby waives, and agrees not to assert against the Company, or any successor assignee thereof, by way of motion, as a defense, or 
 

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 otherwise, in any such suit, action or proceeding, (i) any claim that the Investor is not personally subject to the jurisdiction of the above-named courts or to an arbitration proceeding hereunder, and (ii) to the extent permitted by applicable law, any claim that such arbitration proceeding or proceeding relating to the enforcement of an arbitration award is in an inconvenient forum or that the venue of any such proceeding is improper or that this Agreement may not be enforced in or by arbitration or that judgment upon an arbitration award may not be entered in any such courts.
 

 4.9.
 Counterparts.  This Agreement may be executed in two or more counterparts, all of which when taken together shall be considered one and the same agreement and shall become effective when counterparts have been signed by each party and delivered to the other party, it being understood that both parties need not sign the same counterpart.  In the event that any signature is delivered by facsimile transmission, such signature shall create a valid and binding obligation of the party executing (or on whose behalf such signature is executed) with the same force and effect as if such facsimile signature page were an original thereof.
 

 4.10.
 Severability.  If any provision of this Agreement is held to be invalid or unenforceable in any respect, the validity and enforceability of the remaining terms and provisions of this Agreement shall not in any way be affected or impaired thereby and the parties will attempt to agree upon a valid and enforceable provision that is a reasonable substitute therefor, and upon so agreeing, shall incorporate such substitute provision in this Agreement.
 

 4.11.
 Replacement of Shares.  If any certificate or instrument evidencing any Shares is mutilated, lost, stolen or destroyed, the Company shall issue or cause to be issued in exchange and substitution for and upon cancellation thereof, or in lieu of and substitution therefor, a new certificate or instrument, but only upon receipt of evidence reasonably satisfactory to the Company of such loss, theft or destruction and customary and reasonable indemnity, if requested.  The applicants for a new certificate or instrument under such circumstances shall also pay any reasonable third-party costs associated with the issuance of such replacement Shares.  If a replacement certificate or instrument evidencing any Shares is requested due to a mutilation thereof, the Company may require delivery of such mutilated certificate or instrument as a condition precedent to any issuance of a replacement.
 
 4.12.
 Remedies.  In addition to being entitled to exercise all rights provided herein or granted by law, including recovery of damages, each of the Investors and the Company will be entitled to specific performance under the Transaction Documents.  The parties agree that monetary damages may not be adequate compensation for any loss incurred by reason of any breach of obligations described in the foregoing sentence and hereby agrees to waive in any action for specific performance of any such obligation the defense that a remedy at law would be adequate.
 

 

 

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 IN WITNESS WHEREOF, the parties hereto have caused this Share Purchase Agreement to be duly executed by their respective authorized signatories as of the date first indicated above.
 CYTO WAVE  TECHNOLOGIES INC.
 By:  ____________________
 Name:  George Yu
Title:  President & CEO
 

 [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK
SIGNATURE PAGE FOR INVESTOR FOLLOWS]
 

 Company Signature Page
 Share Purchase Agreement
 

 

 

 
 IN WITNESS WHEREOF, the parties hereto have caused this Share Purchase Agreement to be duly executed by their respective authorized signatories as of the date first indicated above.
 

 [Investor]
 

 

 By: _______________________
 

 

 

 

 

 Address for Notice:
 

 

  
 

 Investor Signature Page
 Share Purchase Agreement

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