Document:

Exhibit
10.9

 

SOFTWARE
LICENSING AGREEMENT

 

This
SOFTWARE LICENSING AGREEMENT (the “Agreement”) is entered into this 28th day of April, 2016 (the “Effective
Date”) by and between Forex Development Corporation a Delaware corporation with principal offices at 115 W 18th St., 2nd
Floor, New York, NY 10011 (“Licensor”) and Atom8 Financial Services LLP, (Company No. OC376560), with principal offices
at 2nd Floor, Centenary House, Palliser Road, London, W14 9EQ. Atom8 Financial Services LLP is authorized and regulated by the
Financial Conduct Authority. FRN: 590299 (“Licensee”).

 

RECITALS

 

WHEREAS,
Licensee is the owner of, or has acquired the rights to the Software and Documentation defined below; and

 

WHEREAS,
Licensee, a leading provider of ECN FX and spread betting services;

 

NOW,
THEREFORE, in consideration of the foregoing and the mutual covenants contained herein, the parties agree as follows:

 

1.
Definitions

 

1.1
“Documentation” shall mean all manuals, user documentation, and other related materials pertaining to the
Software which are furnished to Licensee by Licensor in connection with the Software.

 

1.2
“License Fee” shall mean the fees listed on Exhibit A attached hereto.

 

1.3
“Software” means the software program supplied by Licensor herewith, which are further described in Exhibit
A attached hereto, and may also include documentation, associated media, printed materials, and online and electronic documentation.

 

2.
Grant of License. Subject to the terms and conditions of this Agreement, the Licensor hereby grants to Licensee, for the
term of this Agreement a worldwide, non-exclusive, non-transferable license (the “License”) to:

 

(a)
Install and use the Software on a single computer; OR install and store the Software on a storage device, such as a network
server, used only to install the Software on Licensor other computers over an internal network, provided that Licensee obtains
a license for each separate computer on which the Software is installed and run. The License for the Software may not be shared
or used concurrently on different computers.

 

(b)
Make one copy of the Software in machine-readable form solely for backup purposes. Licensee must reproduce on any such copy all
copyright notices and any other proprietary legends on the original copy of the Software.

 

3.
License Restrictions

 

3.1
No Distribution. Other than as set forth in Section 2 (Grant of License), Licensee may not make or distribute copies of
the Software, or electronically transfer the Software from one computer to another or over a network.

 

	Forex Development Corporation	

 

    	 

    	 

    

 

3.2
No Sublicense. Licensee may not rent, lease, or sublicense the Software.

 

3.3
Assignment and Transfer. Licensee may permanently transfer all of Licensor rights under this License only as part of a
sale or transfer of all or substantially all of the assets of the Licensee, provided that Licensee retain no copies, Licensee
transfer all of the Software (including all component parts, the media and printed materials, any upgrades, this License, and
the serial numbers), and the recipient agrees to the terms of this License. If the Software is an upgrade, any transfer must include
all prior versions of the Software. Licensee may not sell or transfer any Software purchased under a volume discount.

 

4.
Modifications and Upgrades.

 

4.1
Error Corrections and Updates. Licensor will provide to Licensee all error corrections, bug fixes, patches or other updates
to the Software licensed hereunder in object code form to the extent available in accordance with the Licensor’s release
schedule for a period of 5 year(s) from the date of shipment/download.

 

4.2
Other Modifications. Licensee may, from time to time, request that Licensor incorporate certain features, enhancements
or modifications into the Software. Licensor may, in its sole discretion, undertake to incorporate such changes and distribute
the Software so modified to all or any of Licensor’s licensees. Licensee may not modify the Software or create derivative
works based upon the Software.

 

4.3
Title to Modifications. All such error corrections, bug fixes, patches, updates and other modifications shall be the sole
property of Licensor. All upgrades and updates are provided to Licensee on a license exchange basis. Licensee agrees that it will
not continue to use earlier versions of the Software or transfer it to another person or entity unless such transfer is pursuant
to Section 3 (License Restrictions).

 

5.
Copies. Except as specifically set forth herein, no Software or Documentation which is provided by Licensor pursuant to
this Agreement in human readable form, such as written or printed documents, shall be copied in whole or in part by Licensee without
Licensor’s prior written consent. Additional copies of printed materials may be obtained from Licensor at the charges then
in effect. Except as specifically set forth herein, any Software provided in machine readable form may not be copied by Licensee
in whole or in part, except for Licensee’s backup or archive purposes. Licensee agrees to maintain appropriate records of
the number and location of all copies of the Software and make such records available upon Licensor’s request. Licensee
further agrees to reproduce all copyright and other proprietary notices on all copies of the Software in the same form and manner
that such copyright and other proprietary notices are originally included on the Software.

 

6.
License Fees and Payment.

 

6.1
License Fee. In consideration of the license rights granted in Section 2 (Grant of License), Licensee shall pay the license
fees or other consideration for the Software and as set forth on Exhibit A attached hereto. All amounts payable hereunder by Licensee
shall be payable in United States funds without deductions for taxes, assessments, fees, or charges of any kind. Checks shall
be made payable to Licensor and shall be forwarded to 115 W 18th St., 2nd Floor, New York, NY 10011.

 

6.2
Taxes and Other Charges. Licensee shall be responsible for paying all (i) sales, use, excise, value- added, or other tax
or governmental charges imposed on the licensing or use of the Software hereunder, (ii) freight, insurance and installation charges,
and (iii) import or export duties or like charges.

 

7.
Delivery. Within 30 days of the Effective Date of this Agreement, the Licensor shall deliver to Licensee a master copy
of the Software and Documentation licensed hereunder in object code form, suitable for reproduction, in electronic files only.

 

8.
Intellectual Property Rights; Ownership.

 

8.1
Proprietary Notices. Licensee agrees to respect and not to remove, obliterate, or cancel from view any copyright, trademark,
confidentiality or other proprietary notice, mark, or legend appearing on any of the Software or output generated by the Software,
and to reproduce and include same on each copy of the Software.

 

	Forex Development Corporation	

 

    	 

    	 

    

 

8.2
No Reverse Engineering. Licensee agrees not to decompile, reverse engineer, disassemble, modify or otherwise reduce the
Software, or any portion thereof to a human- perceivable form.

 

8.3
Ownership. Licensee further acknowledges that all copies of the Software in any form provided by Licensor or made by Licensee
are the sole property of Licensor and/or its suppliers. Licensee shall not have any right, title, or interest to any such Software
or copies thereof except as provided in this Agreement, and further shall secure and protect all Software and Documentation consistent
with maintenance of Licensor’s proprietary rights therein.

 

9.
Confidentiality.

 

9.1
General Provisions. Each party acknowledges and agrees that any information received under this Agreement, including client
and/ o technical information constitutes the proprietary confidential information of the disclosing party, and that the other
party’s protection thereof is essential to this Agreement.

 

Each
party shall retain in strict confidence and not disclose any such information to any third party (except as authorized by this
Agreement) without the other party’s express written consent. The prohibitions contained in this Section 9.1 (General Provisions)
preclude dissemination of such information to Licensee’s subsidiaries or affiliates.

 

9.2
Confidentiality. Each party acknowledges and agrees that the terms and conditions of this Agreement shall be treated as
confidential information and that no reference to the terms and conditions of this Agreement or to activities pertaining thereto
can be made in any form without the prior written consent of the other party; provided, however, that the general existence of
this Agreement shall not be treated as confidential information, and that either party may disclose the terms and conditions of
this Agreement: (a) as required by any court or other governmental body or as otherwise required by law; (b) to legal counsel,
accountants, banks, proposed investors, and financing sources of the parties and their advisors; (c) in confidence, in connection
with the enforcement of this Agreement or rights under this Agreement; or (d) in confidence, in connection with a merger or acquisition
or proposed merger or acquisition, or the like.

 

9.3
Exceptions. Each party shall be relieved of its obligation of confidentiality hereunder to the extent any such information:
(a) was in the public domain at the time of disclosure or has become in the public domain through no fault of such party; (b)
was known to such party, without restriction, at the time of disclosure as shown by its files in existence at the time of disclosure;
(c) was disclosed by such party with the prior written approval of the other party; (d) was independently developed by such party
without any use of the other party’s confidential information; or (e) becomes known to such party, without restriction,
from a source other than the other party and without breach of this Agreement.

 

9.4
Injunctive Relief. Each party acknowledges that any breach of any of its obligations with respect to confidentiality or
use of the other party’s confidential information hereunder is likely to cause or threaten irreparable harm to the other
party, and, accordingly, it agrees that in the event of such breach the other party shall be entitled to equitable relief to protect
its interest therein, including but not limited to preliminary and permanent injunctive relief, as well as money damages.

 

9.5
Survival. Licensee’s obligations under this Section 9 (Confidentiality) shall survive the termination of this Agreement
or of any license granted under this Agreement for whatever reason.

 

10.
Limited Warranty and Disclaimer.

 

10.1
Limited Warranty. The Company warrants that, for a period of ninety (90) days from the date of delivery (as evidenced by
a copy of Licensor receipt): (i) when used with a recommended hardware configuration, the Software will perform in substantial
conformance with the documentation supplied with the Software; and (ii) the physical media on which the Software is furnished
will be free from defects in materials and workmanship under normal use.

 

	Forex Development Corporation	

 

    	 

    	 

    

 

10.2
Disclaimer of Warranties. NO OTHER WARRANTY EXCEPT AS SET FORTH IN THE FOREGOING LIMITED WARRANTY, LICENSOR AND ITS SUPPLIERS
DISCLAIM ALL OTHER WARRANTIES, EITHER EXPRESS OR IMPLIED, OR OTHERWISE INCLUDING THE WARRANTIES OF MERCHANTABILITY AND FITNESS
FOR A PARTICULAR PURPOSE. ALSO, THERE IS NO WARRANTY OF NONINFRINGEMENT, TITLE OR QUIET ENJOYMENT. IF APPLICABLE LAW IMPLIES ANY
WARRANTIES WITH RESPECT TO THE SOFTWARE, ALL SUCH WARRANTIES ARE LIMITED IN DURATION TO NINETY (90) DAYS FROM THE DATE OF DELIVERY.
NO ORAL OR WRITTEN INFORMATION OR ADVICE GIVEN BY LICENSOR ITS DEALERS, DISTRIBUTORS, AGENTS OR EMPLOYEES SHALL CREATE A WARRANTY
OR IN ANY WAY INCREASE THE SCOPE OF THIS WARRANTY.

 

10.3
USA Only. SOME STATES DO NOT ALLOW THE EXCLUSION OF IMPLIED WARRANTIES, SO THE ABOVE EXCLUSION MAY NOT APPLY TO LICENSEE.
THIS WARRANTY GIVES LICENSEE SPECIFIC LEGAL RIGHTS AND LICENSEE MAY ALSO HAVE OTHER LEGAL RIGHTS THAT VARY FROM STATE TO STATE.

 

11.
Exclusive Remedy. Licensor exclusive remedy under Section 10 (Limited Warranty and Disclaimer) is to return the Software
to the place Licensee acquired it, with a copy of Licensor receipt and a description of the problem. Licensor will use reasonable
commercial efforts to supply Licensee with a replacement copy of the Software that substantially conforms to the documentation,
provide a replacement for defective media, or refund to Licensee Licensor purchase price for the Software, at its option. Licensor
shall have no responsibility if the Software has been altered in any way, if the media has been damaged by accident, abuse or
misapplication, or if the failure arises out of use of the Software with other than a recommended hardware configuration.

 

12.
Limitation of Liability. NEITHER LICENSOR NOR ITS SUPPLIERS SHALL BE LIABLE TO LICENSEE OR ANY THIRD PARTY FOR ANY INDIRECT,
SPECIAL, INCIDENTAL OR CONSEQUENTIAL DAMAGES (INCLUDING DAMAGES FOR LOSS OF BUSINESS, LOSS OF PROFITS, BUSINESS, INTERRUPTION
OR THE LIKE), ARISING OUT OF THE USE OR INABILITY TO USE THE SOFTWARE OR THIS LICENSE BASED ON ANY THEORY OF LIABILITY INCLUDING
BREACH OF CONTRACT, BREACH OF WARRANTY, TORT (INCLUDING NEGLIGENCE), PRODUCT LIABILITY OR OTHERWISE, EVEN IF COMPANY OR ITS REPRESENTATIVES
HAVE BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES AND EVEN IF A REMEDY SET FORTH HEREIN IS FOUND TO HAVE FAILED OF ITS ESSENTIAL
PURPOSE.

 

LICENSOR’S
TOTAL LIABILITY TO LICENSEE FOR ACTUAL DAMAGES FOR ANY CAUSE WHATSOEVER WILL BE LIMITED TO THE GREATER OF $ US DOLLARS OR THE
AMOUNT PAID BY LICENSEE FOR THE SOFTWARE THAT CAUSED SUCH DAMAGE.

 

13.
Indemnification.

 

13.1
Indemnification of Licensee. Licensor shall indemnify, hold harmless and defend Licensee against any action brought against
Licensee to the extent that such action is based on a claim that the unmodified Software, when used in accordance with this Agreement,
infringes a United States copyright and Licensor shall pay all costs, settlements and damages finally awarded; provided, that
Licensee promptly notifies Licensor in writing of any claim, gives Licensor sole control of the defense and settlement thereof
and provides all reasonable assistance in connection therewith. If any Software is finally adjudged to so infringe, or in Licensor’s
opinion is likely to become the subject of such a claim, Licensor shall, at its option, either: (i) procure for Licensee the right
to continue using the Software (ii) modify or replace the Software to make it non-infringing, or (iii) refund the fee paid, less
reasonable depreciation, upon return of the Software. Licensor shall have no liability regarding any claim arising out of: (w)
use of other than a current, unaltered release of the Software unless the infringing portion is also in the then current, unaltered
release, (x) use of the Software in combination with non-Licensor software, data or equipment if the infringement was caused by
such use or combination, (y) any modification or derivation of the Software not specifically authorized in writing by Licensor
or (z) use of third party software. THE FOREGOING STATES THE ENTIRE LIABILITY OF LICENSOR AND THE EXCLUSIVE REMEDY FOR LICENSEE
RELATING TO INFRINGEMENT OR CLAIMS OF INFRINGEMENT OF ANY COPYRIGHT OR OTHER PROPRIETARY RIGHT BY THE SOFTWARE.

 

	Forex Development Corporation	

 

    	 

    	 

    

 

13.2
Indemnification of Licensor. Except for the foregoing infringement claims, Licensee shall indemnify and hold harmless Licensor,
its officers, directors, affiliates, consultants, agents and employees from and against any claims, demands, or causes of action
whatsoever, including without limitation those arising on account of Licensee’s modification or enhancement of the Software
or otherwise caused by, or arising out of, or resulting from, the exercise or practice of the license granted hereunder by Licensee,
its sub-licensees, if any, its subsidiaries or their officers, employees, agents or representatives.

 

14.
Insurance. Licensee shall carry and maintain paid up policies for adequate products liability insurance, with Licensor
identified as an additional insured, and Licensee shall provide Licensor with proof of all such insurance, copies of all such
policies, and any renewals thereof at Licensor’s request.

 

15.
Default and Termination.

 

15.1
Events of Default. This Agreement may be terminated by the non-defaulting party if any of the
following events of default occur: (1) if a party materially fails to perform or comply with this Agreement or any provision hereof;
(2) if either party fails to strictly comply with the provisions of Section 9 (Confidentiality) or makes an assignment in violation
of Section 21.9 (Assignments); (3) if a party becomes insolvent or admits in writing its inability to pay its debts as they mature,
or makes an assignment for the benefit of creditors; (4) if a petition under any foreign, state, or United States bankruptcy act,
receivership statute, or the like, as they now exist, or as they may be amended, is filed by a party; or (5) if such a petition
is filed by any third party, or an application for a receiver is made by anyone and such petition or application is not resolved
favorably within ninety (90) days.

 

15.2
Effective Date of Termination. Termination due to a material breach of Section 2 (Grant of License), Section 5 (Copies),
Section 8 (Intellectual Property Rights; Ownership), or Section 9 (Confidentiality) shall be effective on notice. In all other
cases, termination shall be effective thirty (30) days after notice of termination to the defaulting party if the defaults have
not been cured within such thirty (30) day period.

 

15.3
Obligations on Termination. Within ten (10) days after termination of this Agreement, Licensee shall cease and desist all
use of the Software and Documentation and shall return to Licensor all full or partial copies of the Software and Documentation
in Licensee’s possession or under its control.

 

16.
Basis of Bargain. The Limited Warranty, Exclusive Remedies and Limited Liability set forth above are fundamental elements
of the basis of the Agreement between Licensor and Licensee. Licensor would not be able to provide the Software on an economic
basis without such limitations.

 

17.
U.S. Government Restricted Rights Legend. This Software and the Documentation are provided with “Restricted Rights”.
Use, duplication, or disclosure by the U.S. Government is subject to restrictions as set forth in this License.

 

18.
Outside of the USA Consumer End Users Only. The limitations or exclusions of warranties and liability contained in this
License do not affect or prejudice the statutory rights of a consumer, i.e., a person acquiring goods otherwise than in the course
of a business.

 

19.
Relationship of Parties. Licensee is an independent contractor of Licensor and nothing contained in this Agreement shall
be construed to constitute either party as a partner, joint venturer,

co-owner,
employee, or agent of the other party, and neither party shall hold itself out as such. Neither party has any right or authority
to incur, assume or create, in writing or otherwise, any warranty, liability or other obligation of any kind, express or implied,
in the name of or on behalf of the other party, it being intended by both Licensor and Licensee that each shall remain an independent
contractor responsible for its own actions. Licensee agrees to indemnify and hold the Company harmless from and against any damage
or expenses, including reasonable attorneys fees, arising out of Licensee’s breach of the provisions of this Section 9 (Relationship
of Parties).

 

20.
Arbitration. All disputes, claims, or controversies arising out of or relating to this Agreement or any other agreement
executed and delivered pursuant to this Agreement or the negotiation, validity or performance hereof and thereof or the transactions
contemplated hereby and thereby that are not resolved by mutual agreement shall be resolved solely and exclusively by binding
arbitration to be conducted before American Arbitration Association or its successor (the “Arbitrator”). The arbitration
shall be held in New York. before a single arbitrator and shall be conducted in accordance with the rules and regulations promulgated
by the Arbitrator unless specifically modified herein.

 

	Forex Development Corporation	

 

    	 

    	 

    

 

The
parties covenant and agree that they will participate in the arbitration in good faith. In the case of temporary or preliminary
injunctive relief any party may proceed in court without prior arbitration for the limited purpose of avoiding immediate and irreparable
harm. The provisions of this Section 20 (Arbitration) shall be enforceable in any court of competent jurisdiction.

 

Each
of the parties hereto irrevocably and unconditionally consents to the exclusive jurisdiction of the Arbitrator to resolve all
disputes, claims or controversies arising out of or relating to this Agreement or any other agreement executed and delivered pursuant
to this Agreement or the negotiation, validity or performance hereof and thereof or the transactions contemplated hereby. Each
party further irrevocably waives any objection to proceeding before the Arbitrator based upon lack of personal jurisdiction or
to the laying of venue and further irrevocably and unconditionally waives and agrees not to make a claim in any court that arbitration
before the Arbitrator has been brought in an inconvenient forum. Each of the parties hereto hereby consents to service of process
at the address to which notices are to be given. Each of the parties hereto agrees that its submission to jurisdiction and its
consent to service of process are made for the express benefit of the other party hereto.]

 

21.
Miscellaneous Provisions.

 

21.1
Governing Law. This Agreement will be construed in accordance with and governed by the laws of the United Kingdom, without giving
effect to the conflict of law principles of English Law.

 

21.2
Successors and Assigns. Except as otherwise expressly provided in this Agreement, this Agreement will be binding on, and
will inure to the benefit of, the successors and permitted assigns of the parties to this Agreement, provided that Licensee shall
not assign its rights and obligations under this Agreement without the prior written consent of Licensor. Nothing in this Agreement
is intended to confer upon any party other than the parties hereto or their respective successors and assigns any rights or obligations
under or by reason of this Agreement, except as expressly provided in this Agreement.

 

21.3
Notices. All notices and other communications required or permitted hereunder will be in writing and will be delivered
by hand or sent by overnight courier, fax or e-mail to:

 

if
to Licensor:

Attention:
Mitch Eaglstein

 

if
to Licensee:

Attention:
David Andrews

 

Each
party may furnish an address substituting for the address given above by giving notice to the other parties in the manner prescribed
by this Section 21.3 (Notices). All notices and other communications will be deemed to have been given upon actual receipt by
(or tender to and rejection by) the intended recipient or any other person at the specified address of the intended recipient.

 

21.4
Severability. In the event that any provision of this Agreement is held to be unenforceable under applicable law, this
Agreement will continue in full force and effect without such provision and will be enforceable in accordance with its terms.

 

21.5
Construction. The titles of the sections of this Agreement are for convenience of reference only and are not to be considered
in construing this Agreement. Unless the context of this Agreement clearly requires otherwise: (a) references to the plural include
the singular, the singular the plural, and the part the whole, (b) references to one gender include all genders, (c) “or”
has the inclusive meaning frequently identified with the phrase “and/or,” (d) “including” has the inclusive
meaning frequently identified with the phrase “including but not limited to” or “including without limitation,”
and (e) references to “hereunder,” “herein” or “hereof” relate to this Agreement as a whole.
Any reference in this Agreement to any statute, rule, regulation or agreement, including this Agreement, shall be deemed to include
such statute, rule, regulation or agreement as it may be modified, varied, amended or supplemented from time to time.

 

	Forex Development Corporation	

 

    	 

    	 

    

 

21.6
Entire Agreement. This Agreement embodies the entire agreement and understanding between the parties hereto with respect
to the subject matter of this Agreement and supersedes all prior or contemporaneous agreements and understandings other than this
Agreement relating to the subject matter hereof.

 

21.7
Amendment and Waiver. This Agreement may be amended only by a written agreement executed by the parties hereto. No provision
of this Agreement may be waived except by a written document executed by the party entitled to the benefits of the provision.
No waiver of a provision will be deemed to be or will constitute a waiver of any other provision of this Agreement. A waiver will
be effective only in the specific instance and for the purpose for which it was given and will not constitute a continuing waiver.

 

21.8
Counterparts. This Agreement may be in any number of counterparts, each of which will be deemed an original, but all of
which together will constitute one instrument.

 

21.9
Assignment. Neither party may assign this Agreement or any rights or obligations hereunder without the prior written consent
of the other party, which shall not be unreasonably withheld.

 

21.10
Export Regulations. Licensee understands that Licensor is subject to regulation by agencies of the U.S. government, including
the U.S. Department of Commerce, which prohibit export or diversion of certain technical products to certain countries. Licensee
warrants that it will comply in all respects with the export and re-export restrictions applicable to the technology and documentation
licensed hereunder.

 

IN
WITNESS WHEREOF, the parties hereto have caused this Agreement to be signed by duly authorized officers or representatives as
of the Effective Date.

 

	FOREX
    DEVELOPMENT CORPORATION	 
	 	 
	By:
    Mitch Eaglstein	Its:
    CEO, DIRECTOR
	 	 
	ATOM8
    FINANCIAL SERVICES LLP	 
	 	 
	By:
    David Andrews	Its:
    CEO

 

	Forex Development CorporationExhibit
10.10

 

***
Text Omitted and Filed Separately with

the
Securities and Exchange Commission

Confidential
treatment requested Under

Rules
24b-2 and 406 of the Securities

Act
of 1933, as Amended

 

Forex
Development Corporation

115
W 18th St. | New York, NY 10011

Tel:
(877) 445-6047 | E: info@forexdevelopment.com www.forexdevelopment.com

 

January
1, 2017

 

iForex
Group

15
Nikis St. Syntagma Square,

10557
Athens, Greece.

 

Attn:
Mr. Itai Sadeh, CEO

 

PRIVATE
& CONFIDENTIAL

 

This
letter will confirm the understanding and agreement (the “Agreement”) between Forex Development Corporation (“FDC”)
and Formula Investment House Ltd., an investment firm licensed and supervised by the British Virgin Islands’ Financial
Services Commission under license no. SIBA/L/13/1060 doing business as iForex Group (the
“Company”):

 

	 	1)	The
    Company engages FDC on an exclusive basis to provide advisory, sales, and marketing services to promote FxNet trading platform
    and FxNet liquidity to prospective brokers and other forex market participants (“FxNet Services”). 
	 	 	 
	 	2)	FxNet
    Services shall encompass (and a Success Fee as defined in Section 5 shall be payable to) promotion and sales of FxNet Services,
    preparing marketing material, arranging booths in exhibitions, trade shows and negotiating and liaising with prospective brokers
    and training of one dedicated representative/appointee of the Comapny. All deals shall be subject to Company’s approval.
	 	 	 
	 	3)	FDC
    accepts the engagement and, in that connection, agrees to:

 

	 	a)	Review
    and analyze, from a financial perspective, the general business, operations, financial condition and prospects of FxNet Services;
	 	 	 
	 	b)	Assist
    the Company in its preparation and refinement of marketing materials (e.g. Teaser, Management Presentation) describing the
    Company, and FxNet Services.

 

    	 

    	 

    

 

 

	 	c)	Seek
    prior written approval of the Company’s Compliance Officer before disseminating and using marketing materials shall
    in all cases;
	 	 	 
	 	d)	Provide,
    form time to time, training, coaching and mentoring to Company’s appointee who will be assigned to work in close coordiantion
    with FDC’s leadership for the promotion, introduction, and generation of qualified leads of prospective brokers. 
	 	 	 
	 	e)	Dedicate
    commitment form FDC’s leadership for at least 24 hours per week for the first 120 days from the signing of this agreement,
    which will include on-site work in London, UK on the premises of the Company. 
	 	 	 
	 	f)	Participate,
    under the Company’s guidance, in negotiations regarding the financial aspects of the liquidity agreements or other similar
    agreements with prospective brokers.
	 	 	 
	 	g)	Inform
    the Company when engaging with a new client of any potential conflict of interest and how it may be accessed and what should
    be done when potential conflicts become apparent and material.

 

	 	4)	In
    connection with FDC’s engagement, the Company will furnish FDC with any information concerning the Company requested
    by FDC that the Company deems appropriate, and will use its best efforts to provide FDC with reasonable access to the Company’s
    officers, directors, accountants, counsel and other advisors. 
	 	 	 
	 	 	The
    Company represents and warrants to FDC that all such information concerning the Company to be true and accurate in all material
    respects. Such information will not contain any untrue statement of a material fact or omit to state a material fact necessary
    to make the statements therein not misleading in light of the circumstances under which such statements are made. The Company
    acknowledges and agrees that FDC will be using and relying upon such information supplied by the Company and its officers,
    agents, and others and any other available information concerning the Company without any independent investigation or verification
    thereof or independent appraisal by FDC of the Company or its business or assets. FDC does not assume responsibility for the
    accuracy, completeness or reasonableness of any such information.
	 	 	 
	 	 	The
    Company will also represent to FDC that the marketing materials and any other documents related to the Company and FxNet Services
    do not contain any untrue statement or alleged untrue statement of a material fact or omit to state a material fact required
    to be stated or necessary to make any statement not misleading.
	 	 	 
	 	5)	As
    compensation for the advisory services to be rendered by FDC hereunder, the Company shall pay FDC in cash (all quoted in U.S.
    Dollars) and in profit sharing arrangement:

 

	 	a)	The
    Company shall pay FDC the higher of $**** per month or the ***** (**%) percent from the Company Trading Profit (“Commission”)
    on a quarterly basis earned by the Company from brokers/customers introduced by FDC. 
	 	 	 
	 	b)	The
    Company shall continue to pay FDC a fixed monthly fee of $***** per month. If the Commission for the month is higher than
    $*****, the Company shall pay FDC the Commission on a quarterly basis. 
	 	 	 
	 	c)	Parties
    can terminate the Agreement at any time with three months’ notice.

 

    	 

    	 

    

 

 

	 	d)	The
    Company shall pay out-of-pcket, travel and accommodation expenses to FDC only if approved in advance by the Company subject
    to iFOREX travel policy.
	 	 	 
	 	e)	Company
    Trading Profit Share or the Commission shall be calculated and defined as the Gross Revenue of Company minus any direct
    costs such as Prime Broker/LP fees, volume based technology fees and other costs as approved by FDC, and Company Trading Profit
    is calculated during each calendar month.
	 	 	 
	 	f)	Company
    agrees to provide FDC, upon request, monthly records and accounting to support the calculation of Company Trading Profit,
    certified true and accurate by an authorized signatory of Company. Company and FDC agree that Company Trading Profit shall
    be distributed at least once per Quarter, with payment, if any, being made no later than five calendar days following the
    last day of the end of the Quarter. 
	 	 	 
	 	g)	FDC
    has the right to request Company Trading Profit to be distributed if:

 

	 	(i)	Company
    Trading Profits exceeds $*** in realized profit, and
	 	 	 
	 	(ii)	All
    profit and loss in the Company’s Client’s account has been realized at such time, i.e., all of Client’s
    trading positions are closed; If all the forgoing conditions are satisfied, the Company shall make the payment within five
    calendar days following such request.

 

	 	6)	The
    Company shall pay to FDC the Commission if a Transaction closing occurs either:

 

	 	i)	at
    any time during 12 months following the effective date of termination of FDC’s engagement hereunder (the “Tail
    Period”).

 

	 	7)	The
    Company shall reimburse FDC for its reasonable and documented out-of-pocket and incidental expenses incurred during the term
    of its engagement hereunder, provided that the Company first approves such expenses as
    per its travel policies and guidelines.
	 	 	 
	 	8)	FDC
    is acting as an independent contractor under this Agreement, and not in any other capacity including, without limitation,
    as a fiduciary, and any duties arising out of its engagement shall be owed solely to the Company. Except as outlined in Schedule
    1, nothing in this Agreement is intended to confer on any other person (including, without limitation, stockholders, employees
    or creditors of the Company) any rights or remedies hereunder or by reason hereof. The Company agrees that any information
    or documentation provided to the Company by FDC, and any analyses based upon such information and documentation, is owned
    exclusively by FDC. This Agreement shall not be deemed to transfer any ownership rights in such information and/or documentation
    to the Company, including but not limited to intellectual property rights, nor shall any license, express or implied, be granted
    to the Company under this Agreement.
	 	 	 
	 	9)	The
    Company agrees to the indemnification and other agreements set forth on Schedule 1 hereto, which is hereby incorporated by
    reference.

 

	 	10)	The
    Company agrees that during the term of FDC’s engagement hereunder, it will not contact or solicit institutions or other
    entities on a potential Transaction without FDC’s knowledge. The Company will also promptly inform FDC of any discussions
    it has or of any inquiry it may receive concerning a potential Transaction.

 

    	 

    	 

    

 

 

	 	11)	The
    term of FDC’s engagement hereunder shall extend from the date hereof for three months (3) months and shall automatically
    renew for successive monthly periods until either party delivers written notice to the other party of its election to terminate
    FDC’s engagement at least five days before the relevant renewal date. Additionally, this Agreement may be terminated
    by either party by giving ninety (90) calendar days written notice, which agreement of the parties may reduce period. Notwithstanding
    the foregoing, FDC shall be entitled to payment of the fees and expenses payable under Section 6 (by the terms there-of) and
    all of the provisions of this Agreement (including, without limitation, Schedule 1 hereto) other than Sections 1 and 2 shall
    survive any termination of this Agreement.
	 	 	 
	 	12)	The
    Company agrees that FDC will have the right to use the Company’s name, trademark, and logo for announcements, press
    releases and advertisements related to the completion of the transactions contemplated herein. Also, FDC will have the right
    to add “Powered by FDC” or similar branding tagline and its logo on any marketing collateral of Company.
	 	 	 
	 	13)	The
    Company represents and warrants to FDC that there are no brokers, representatives or other persons which have an interest
    in compensation due to FDC from any transaction contemplated herein and that no other agreements of like nature are in force
    or conflict with this Agreement. Each party to this Agreement acknowledges that no representations, inducements, or agreements,
    orally or otherwise, have been made by any party, or anyone acting on behalf of any party, which are not embodied herein.
    This Agreement (including the schedules and attachments hereto) embodies the entire agreement and understanding between the
    parties hereto and supersedes all prior agreements and understandings relating to the subject matter hereof. This Agreement
    may not be amended or modified except in writing and shall be governed by and construed by the laws of the State of New York,
    without regard to principles of conflicts of laws. If any provision of this Agreement is determined to be invalid or unenforceable
    in any respect, such determination shall not affect any other provision of this Agreement, which will remain in full force
    and effect. If any provision of this Agreement is determined to be invalid or unenforceable in any respect, that provision
    will be deemed modified or, if necessary, rescinded to be valid and enforceable. All other provisions of this Agreement will
    continue and remain in full force and effect.
	 	 	 
	 	14)	The
    benefits of this Agreement shall, together with Schedule 1 hereto, inure to the benefit of respective successors and assigns
    of the parties hereto and of the indemnified parties hereunder and their successors and assigns and representatives, and the
    obligations and liabilities assumed in this Agreement by the parties hereto shall be binding upon their respective successors
    and assigns; provided that the Company may not assign this Agreement without the prior written consent of FDC.
	 	 	 
	 	15)	In
    no event shall FDC, or any other agent, affiliate, or contractor of FDC, be liable to the Company for any incidental, indirect,
    special or consequential damages (i.e. lost profits) arising out of, or in connection with, this Agreement, whether or not
    such party was advised of the possibility of such damage. The Company further agrees that the liability limit of FDC and its
    affiliates, agents or contractors shall, in the absence of gross negligence, willful misconduct or a violation law on the
    part of FDC or any of its Indemnified Persons (as defined in Schedule 1), in no event be greater than the aggregate dollar
    amount which the Company paid during the term of this agreement, including any agreement, including any reasonable attorney’s
    fees and court costs.
	 	 	 
	 	16)	The
    Company agrees that during the term of this Agreement, and for twelve (12) months following the termination of this Agreement
    for any reason, the Company will not, directly or indirectly, hire or seek to hire (whether on the Company’s behalf
    or on behalf of some other person or entity) any person who is, during the term or at the time of the termination of this
    Agreement, an employee, consultant or independent contractor of FDC, or who had left the employ of FDC within six (6) months
    prior to such solicitation or hire. Nor will the Company, during this period, directly or indirectly encourage or induce any
    employee, consultant or independent contractor of FDC to leave FDC’s employ.

 

    	 

    	 

    

 

 

	 	17)	All
    notices, demand or other communications given hereunder shall be in writing and shall be deemed to have been duly given when
    delivered in person or transmitted by facsimile transmission or on the third calendar day after being mailed by United States
    registered or certified mail, return receipt requested, postage prepaid, to the addresses herein above first mentioned or
    to such other addresses as any party hereto shall designate to the other for such purpose. For the avoidance of doubt, e-mail
    shall not be an accepted means of providing any notice to the other party required hereunder.
	 	 	 
	 	18)	While
    certain principals of FDC are attorneys, FDC is not, in any manner, providing legal services or legal advice to the Company.
    Furthermore, the Company agrees and acknowledges that FDC is not an advisor as to tax, accounting or regulatory matters in
    any jurisdiction.
	 	 	 
	 	19)	The
    Company represents that it is a sophisticated business enterprise that has retained FDC for the limited purposes outlined
    in this Agreement, and the parties acknowledge and agree that their respective rights and obligations are contractual in nature.
    Each party disclaims any intention to impose fiduciary obligations on the other by the engagement contemplated by this Agreement.
	 	 	 
	 	20)	Any
    dispute or controversy arising out of this Agreement shall be determined by arbitration by the rules of the Financial Industry
    Regulatory Authority then in effect. Any arbitration award shall be final and binding upon the Company, and FDC and judgment
    upon the award may be entered in any court having jurisdiction. The arbitration shall take place in New York City, New York.
	 	 	 
	 	21)	If
    necessary, the Company agrees to provide FDC with information and supporting documentation to enable FDC to comply with the
    requirements under Title III of the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept
    and Obstruct Terrorism Act of 2001 (the “USA Patriot Act”) (Public Law 107-56).
	 	 	 
	 	22)	The
    prevailing party in any dispute relating to or arising from this Agreement shall have the right to collect from the other
    party its reasonable costs and attorneys’ fees.

 

FDC
is delighted to accept this engagement and looks forward to working with you. Please confirm that the foregoing correctly sets
forth our agreement by signing this letter in the space provided, after that this letter shall be a binding agreement as of the
date first above written.

 

	Agreed:
    Forex Development Corporation	 	Agreed:
    iForex Group
	 	 	 	 	 
		/s/
    Mitch Eaglstein	 	 	/s/
    Itai Sadeh
	By:	Mitch
    Eaglstein	 	By:	Itai
    Sadeh
	Title:	CEO	 	Title:	CEO

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