Document:

csev_ex1001.htm

Exhibit 10.01

 

THIRD LOAN EXTENSION AGREEMENT

 

This THIRD LOAN EXTENSION AGREEMENT (this “Agreement”) is dated as of January 31, 2011, by and between ONE Bio, Corp., a Florida corporation trading on the OTC Bulletin Board under the symbol “ONBI.OB” (the “Borrower” or the “Company”) and each of the purchasers named on Schedule 1 hereto (collectively, the “Purchasers”).

 

Reference is herein made to that certain Securities Purchase and Registration Rights Agreement, by and between the Borrower and the Purchasers, dated as of January 8, 2010 (the “Purchase Agreement”), that certain Amended and Restated Promissory Note, which was executed by the Borrower and each of the Purchasers on August 12, 2010 in the principal amounts with respect to each such Purchaser as specified on Schedule 1 to the Purchase Agreement (each, an “Amended Note” and, collectively, the “Amended Notes”), that certain Loan Extension and Modification Agreement, dated August 12, 2010, by and among the Borrower and the Purchasers (the “August Modification Agreement”) and that certain Loan Extension Agreement, dated December 10, 2010, by and among Borrower and Purchasers (the “Second Modification Agreement”). Capitalized terms not otherwise defined herein shall have the meaning ascribed to such term in the August Modification Agreement (unless modified in the Second Modification Agreement) or in the Second Modification Agreement and, to the extent no meaning is ascribed to such term in the August Modification Agreement or the Second Modification Agreement, shall have the meaning ascribed to such term in the Purchase Agreement.

 

WITNESSETH:

 

WHEREAS, pursuant to the August Modification Agreement, the Purchasers were each issued an Amended Note, with each such note maturing on the Maturity Date (as defined in the Amended Notes) of December 10, 2011, unless extended to January 10, 2011 with the written consent of each of the respective Purchasers;

 

 WHEREAS, pursuant to the Second Modification Agreement, the Borrower and the Purchasers agreed, among other things, to extend the Maturity Date (as defined in the Amended Notes) of all the Amended Notes to January 31, 2011;

 

WHEREAS, the Borrower seeks the Purchasers’ consent to (a) further extend the Maturity Date (as defined in the Amended Notes) of all the Amended Notes to April 1, 2011, (b)  have an option, exercisable by the Borrower hereafter, to further extend the Maturity Date to May 1, 2011, and to (c) have an option, exercisable by the Borrower hereafter, to further extend the Maturity Date to June 1, 2011, and the Purchasers, upon and subject to all covenants, terms and conditions provided herein, and on the basis of the facts and statements contained in the foregoing recitals, are willing to consent to such one or more extensions of the Maturity Date (as defined in the Amended Notes); and

 

WHEREAS, in addition to the extension and possible further future extension of the Maturity Date (as defined in the Amended Notes), the Borrower also seeks the Purchasers’ consent to modify certain terms and conditions of the August Modification Agreement and the Second Modification Agreement with respect to the issuance of the New Warrants, as more fully set forth herein, and the Purchasers, upon and subject to all covenants, terms and conditions provided herein and in the Amended Loan Documents, and on the basis of the facts and statements contained in the foregoing recitals, are willing to consent to such modifications.

 

WHEREAS, Frontier Pty Ltd, an Australian company (the “Former Purchaser”) has been repaid in accordance with the terms of the Amended Note issued to the Former Purchaser pursuant to the August Modification Agreement, but remains entitled to receive its pro rata share of the Cancellation Premium provided for in Section 5 of the August Modification Agreement and its pro rata share of the Extension Warrants provided for in Section 3 of the Second Modification Agreement but not yet issued;

 

  

1

  

 

NOW, THEREFORE, for valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Borrower and Purchasers agree as follows:

1. Further Extension of Maturity Date; Additional Interest Upon Maturity.

(a) In accordance with the terms of the Amended Notes, and each of the undersigned Purchasers (but not the Former Purchaser) hereby agree to further extend the Maturity Date (as defined in the Amended Notes) to: (a) April 1, 2011; (b) May 1, 2011, upon notice from the Borrower to the Purchasers given not later than March 21, 2011; and (c) June 1, 2011, upon notice from the Borrower to the Purchasers given not later than April 21, 2011 (each such date being the “Amended Maturity Date” for purposes of this Agreement to the extent Borrower has elected to extend the Maturity Date to such date);, provided as to each such extension that no Event of Default has occurred and is continuing under the Amended Notes.

(b) Borrower further agrees that if any indebtedness under the Amended Notes remains outstanding after the Amended Maturity Date, such outstanding indebtedness shall bear Additional Interest at the rate of 5% per month or any part of a month that such balance remains outstanding, in addition to the Interest Rate then in effect with respect to the Amended Notes.

2. Extension of New Financing and New Warrant Issuance Date; Cancellation of Cancellation Premium as to Purchasers; Unconditional Payment of Cancellation Premium as to Former Purchaser.

(a) Purchasers and the Borrower hereby agree that the terms of the New Warrants (whose exercise price is not yet fixed) issuable to each of the Purchasers pursuant to the terms of the August Modification Agreement shall be as set forth in the August Modification Agreement (as amended by the terms of the Second Modification Agreement), except that references to Amended Maturity Date in Sections 3 and 4 of the August Modification Agreement shall be replaced with June 30, 2011.

(b) Notwithstanding anything to the contrary herein or in the Second Modification Agreement, and notwithstanding that the Company did not consummate a New Financing prior to January 31, 2011, the Purchasers agree that the Company shall no longer have any obligation to pay the Cancellation Premium to the Purchasers pursuant to Section 5 of the August Modification Agreement..

(c) Notwithstanding anything to the contrary herein or in the Second Modification Agreement, as a result of not consummating a New Financing prior to January 31, 2011, the Company acknowledges that it now has an unconditional obligation to pay the Cancellation Premium to the Former Purchaser pursuant to Section 5 of the August Modification Agreement in two equal installments each payable on June 10, 2011 and December 10, 2011, but without regard to whether or not a New Financing occurs or New Warrants are issued after January 31, 2011.  For the avoidance of doubt, the Company’s unconditional obligation to pay the Cancellation Premium to the Former Purchaser is in addition to, and not in lieu of or substitution for its obligations to issue Extension Warrants to the Former Purchaser pursuant to the Second Modification Agreement and Section 3 below.

3. Issuance of Extension Warrants; Further Extension Fees and Shares.

(a) Borrower is concurrently herewith issuing to the Purchasers and the Former Purchaser the Extension Warrants pursuant to its existing obligations set forth in Section 3 of the Second Modification Agreement.

(b) Additionally, in exchange for the Purchasers’ agreement to further extend the Maturity Date of the Amended Notes through the Amended Maturity Date, Borrower shall:

(i) upon execution and delivery of this Agreement, pay to the Purchasers  $29,000 as a non-refundable extension fee, with the amount of such payment to be allocated among the Purchasers in accordance with Schedule 1 attached hereto.

  

2

  

 

(ii) on April 1, 2011, issue to the Purchasers warrants (the “Second Extension Warrants”), that shall then be immediately exercisable upon issuance for a period of five (5) years following the date of issuance and which shall entitle the Purchasers to purchase up to an aggregate of 90,000 shares of Common Stock at an initial exercise price of $3.00 per share, for cash or on a cashless exercise basis, and otherwise in the form previously agreed upon for the New Warrants, with the number of such Second Extension Warrants issued pursuant hereto to be allocated among the Purchasers in accordance with Schedule 1 attached hereto;

(iii) on April 2, 2011, if any of the Amended Notes were outstanding and not full repaid by April 1, 2011, pay to the Purchasers  $72,500 as a non-refundable fee, and shall issue to the Purchasers 58,000 shares of Common Stock for no additional consideration, with the amount of such payment and shares to be allocated among the Purchasers in accordance with Schedule 1 attached hereto; and

(iv) on May 2, 2011, if any of the Amended Notes were outstanding and not full repaid by May 1, 2011, pay to the Purchasers $72,500 as a non-refundable fee, and shall issue to the Purchasers 58,000 shares of Common Stock for no additional consideration, with the amount of such payment and shares to be allocated among the Purchasers in accordance with Schedule 1 attached hereto; and

(v) within five days of the execution and delivery of this Agreement, cause one or more of its principal shareholders to deposit share certificates, with stock powers duly endorsed in blank and signature guarantees, representing 300,000 shares of its Common Stock, as additional Pledged Stock under the Stockholder Pledge and Security Agreement, and the extension of the Maturity Date contemplated by this Agreement shall be ineffective if such additional share certificates are not received within such time period.

(c) Purchasers acknowledge that upon payment in full of the Amended Notes, (i) in accordance with the Stockholder Pledge and Security Agreement, the Pledged Shares will be released, and (ii) UTA’s signature authority over certain PRC-based bank accounts of the Company’s Subsidiaries shall be terminated, subject in each case to prior satisfaction of any other agreements in writing then existing among Purchasers and the Company relating to the establishment of share and cash collateral for other obligations of the Company to the Purchasers relating to the Conversion Shares.

4. Partial Conversion of Amended Notes.  Purchasers and the Borrower hereby mutually agree that $150,000 of the Amended Notes shall be, and hereby are being, converted into 150,000 shares of Common Stock of the Borrower (“Conversion Shares”) at the conversion rate of $1.00 per share of Common Stock, with the amount of the Notes being converted and Conversion Shares to be allocated among the Purchasers in accordance with Schedule 1 attached hereto. The Borrower shall promptly cause share certificates representing the Conversion Shares to be issued in the names of the respective Purchasers.  Any further Company obligations relating to the Conversion Shares are and shall be deemed indebtedness of the Company that is secured by the terms of the Amended Loan Documents.

5. Registration Rights. The shares of Common Stock (i) issuable upon exercise of the New Warrants, the Extension Warrants and the Second Extension Warrants, (ii) issuable pursuant to Section 3 of this Agreement, and (iii) issued as the Conversion Shares shall be deemed Registrable Securities entitled to the benefits of Section 12 of the Purchase Agreement, provided, however, that notwithstanding anything to the contrary in Section 12 of the Purchase Agreement, the Company (i) shall not be required to file a Registration Statement with respect to any Registrable Securities prior to the first to occur of (x) July 15, 2011, and (y) 45 days after the closing of any New Financing, and (ii) may include such Registrable Securities in a Registration Statement covering the resale of any shares of Common Stock issued or issuable as part of a New Financing.

6. Fees and Expenses.  The Borrower shall promptly reimburse Purchasers for all of Purchasers’ legal fees and other out-of-pocket expenses incurred in connection with the preparation and negotiation of this Agreement.   Borrower concurrently with the execution of this Agreement is advancing $15,000 to Purchasers’ counsel as a full reimbursement of such legal expenses, and the extension of the Maturity Date contemplated by this Agreement shall be ineffective if such advance is not received within five days of the execution and delivery of this Agreement.

 

  

3

  

7. Enforceability.  Except as specifically modified herein, the August Modification Agreement, the Second Modification Agreement and the Amended Loan Documents remain in full force and effect.

8. Borrower Representations and Warranties.  Borrower, by execution of this Agreement, hereby represents and warrants that as of the date hereof, with the understanding that Purchasers are expressly relying thereon as an inducement to enter in this Agreement and extend the maturity of the Amended Notes:

(a) no Event of Default has occurred or is continuing; and

(b) The representations and warranties of the Borrower set forth in Sections 7(b) through 7(g) of the Second Modification Agreement remain true and correct as of the date of this Agreement.

 

Concurrently herewith and as a condition to the effectiveness of this Agreement, Borrower is delivering to the Purchaser a certification of its Chief Executive Officer and Chief Financial Officer as to the accuracy of the foregoing representations and warranties.

9. Amendment and Waiver.  No term, covenant, agreement or condition of this Agreement may be amended unless in a writing and executed by all of the parties hereto affected thereby.  No waiver of any term, covenant, agreement or condition of this Agreement by a party shall be effective unless in writing executed by the waiving party.

10. Successors and Assigns.  This Agreement shall be binding on and inure to the benefit of the respective successors and assigns of the parties hereto whether so expressed or not, except that the assignment of the rights and obligations of the Borrower hereunder shall be subject to the restrictions on transfers and assignments contained in the Amended Loan Documents.

11. Counterparts.  This Agreement may be executed by one or more of the parties to this Agreement in any number of separate counterparts, each of which, when so executed, shall be deemed an original, and all of said counterparts taken together shall be deemed to constitute but one and the same instrument.

12. Integration and Severability.  This Agreement, taken together with the August Modification Agreement, the Second Modification Agreement and the Amended Loan Documents, embodies the entire agreement and understanding among the Purchasers and the Borrower with respect to the matters addressed herein, and supersedes all prior agreements and understandings relating to the subject matter hereof.  In case any one or more of the provisions contained in this Agreement or in any instrument contemplated hereby, or any application thereof, shall be invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of the remaining provisions contained herein and therein, and any other application thereof, shall not in any way be affected or impaired thereby.

13. Conflict with Existing Loan Documents.  Notwithstanding any provision to the contrary contained in this Agreement, the August Modification Agreement, the Second Modification Agreement, or any of the Amended Loan Documents, if any of the provisions of the August Modification Agreement, the Second Modification Agreement or the Amended Loan Documents conflict with or are inconsistent with the provisions of this Agreement, this Agreement shall control and govern.

 

  

4

  

14. Captions.  The captions and headings of this Agreement are for convenience of reference only and shall not affect the interpretation of this Agreement.

15. Governing Law.  WITH RESPECT TO ANY ACTION OR DISPUTE BETWEEN BORROWER AND THE PURCHASERS THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK.

16. Loan Extension Agreement.  It is the intention and understanding of the parties hereto that this Agreement shall act as an extension of the Loan and that this Agreement shall not act as a novation of such Loan.

 

[Signature Page to Immediately Follow]

 

  

5

  

 

	
IN WITNESS WHEREOF, the undersigned have caused this Agreement to be executed as of the date first written above.

 

	 	BORROWER:	 
	 	 	 
	 	ONE BIO, CORP.	 
	 	 	 	 
	
 

	
By: 

	/s/Marius Silvasan	 
	 	 	Name:	 
	 	 	Title:	 
	 	 	Address:	    8525 NW 53rd Terr., Suite C101	 
	 	 	 	    Doral, Fl 33166	 
	 	 	 	    Attention: Chief Executive Officer	 

 

	 	
PURCHASERS:

	 
	 	 	 
	 	
UTA CAPITAL LLC,

	 
	 	a Delaware limited liability company	 
	 	 	 	 
	 	By:	YZT Management LLC, its Managing Member	 
	 	 	 	 
	 	 	By:	/s/Udi Toledano	 
	 	 	Name:	Udi Toledano	 
	 	 	Title:	Managing Member	 
	 	 	Address:	
    100 Executive Drive, Suite 330

	 
	 	 	 	    West Orange, NJ 07052	 

 

	 	GAL DYMANT	 
	 	 	 	 
	 	/s/Gal Dymant	 
	 	
Gal Dymant

	 
	 	 	 	 
	 	Address:	
    Flat B, 21/F

	 
	 	 	    Tower 1, Estoril Court	 
	 	 	    55 Garden Road	 
	 	 	    Hong Kong, HK	 

 

 

6

 

      

	 	PURCHASERS CONT’D:	 
	 	 	 
	 	
ALAN FOURNIER

	 
	 	 	 	 
	 	 /s/Alan Fournier	 
	 	Alan Fournier	 
	 	 	 	 
	 	Address:	    11 Spring Hollow Road	 
	 	 	    Far Hills, New Jersey 07931	 

 

  

7

  

 

Schedule 1

 

	
Purchasers

	
Principal Amount of

the Amended Notes

	
Extension Warrants

to be Issued to

Purchasers

	
Percentage

of

Extension

and other

fees

	
Percentage

of Shares

and

Conversion

Shares

	
UTA Capital LLC

	
$  2,000,000.00

	
62,069

	
 

 

68.965%

	
 

 

68.965%

	
Gal Dymant

	
$   350,000.00

	
10,862

	
 

 

12.069%

	
 

 

12.069%

	
Alan Fournier

	
$   550,000.00

	
17,069

	
 

 

18.966%

	
 

 

18.966%

	
Total

	
$  2,900,000.00

	
90,000

	
 

 

100%

	
 

 

100%

 

  

8csev_ex1002.htm

Exhibit 10.02

 

ONE Bio Corp.

19950 West Country Club Drive, Suite 100

Aventura, Florida 33180

February 28, 2011

UTA Capital LLC

YZT Management LLC

c/o Mr. Udi Toledano, Managing Member

100 Executive Drive, Suite 330

West Orange, NJ 07052

Gal Dymant

Flat B, 21/F

Tower 1, Estoril Court

55 Garden Road

Hong Kong, HK

Alan Fournier

11 Spring Hollow Road

Far Hills, New Jersey 07931

Re: Consulting Agreement

Gentlemen:

This letter confirms the mutual understanding of One Bio Corp. (“ONE”) and UTA Capital, LLC, Gal Dymant and Alan Fournier (collectively, the “Consulting Firms”), regarding the provision of consulting and advisory services by the Consulting Firms to ONE, and the agreement of ONE to compensate the Consulting Firms for such services, all on the terms and conditions hereinafter set forth (the “Agreement”).  Our agreement is as follows:

1. Engagement.

 

(a)  ONE hereby retains the Consulting Firms to perform, and the Consulting Firms hereby agree to perform, consulting and advisory services for ONE during the Consulting Period (as defined below) in connection with financial matters, capitalization structures, private capital financing and business strategies.

 

(b)  ONE acknowledges that no Consulting Firm nor any officer, director or managing member of any Consulting Firm will have any liability or duties to ONE or its shareholders by reason of entering this Agreement or performing or failing to perform services hereunder. ONE agrees to indemnify and hold each Consulting Firm and its officers, directors, members, partners, shareholders and affiliates (“Indemnified Parties”) harmless from any loss, liability, cost or expense imposed on such Indemnified Parties as a result of the Consulting Firm entering this Agreement or performing or failing to perform services hereunder.

 

  

1

  

 

(c)  During the Consulting Period, a Consulting Firm shall not be required to devote any minimum business time and attention to the performance of the Consulting Firm’s duties hereunder, each Consulting Firm may perform services for other clients and may engage in any other business, profession or occupation for compensation or otherwise, including those which would conflict with any of its obligations hereunder.

 

2. Period. The Consulting Firm’s consultancy hereunder shall commence on the date hereof and continue until November 10, 2011.  In addition, the Consulting Period shall end if ONE is in default of any obligations due to any of the Consulting Firms, whether under this Agreement or otherwise.

 

3. Compensation of Consulting Firm for Services.

 

(a)  Compensation.  In exchange for a Consulting Firm agreeing to enter into this Agreement, ONE hereby grants to each Consulting Firm, severally and not jointly, the option to sell certain shares of ONE Common Stock identified on Schedule 1 to ONE on the terms set forth below (the “Put Right”):

 

(i) Price. The price per share to be paid by ONE for the shares shall be $5.00 per share, net of any taxes and transfer fees (the “Put Price”).

 

(ii) Put Right Exercise Period. The option may be exercised by a Consulting Form at any time or from time to time after June 8, 2011 and ending June 7, 2016.

 

(iii) Initial Volume Limitation; Proration. The aggregate number of shares required to be purchased pursuant to the Put Right shall not exceed 150,000 shares for all of the Consulting Firms, of which the maximum number of shares required to be purchased pursuant to the Put Right prior to November 10, 2011 shall not exceed 90,000 shares in the aggregate. In the event shares tendered for purchase by ONE prior to November 10, 2011 exceed that amount, ONE shall purchase the shares tendered pro rata based on the respective maximum share amounts listed on Schedule 1.

 

(iv) Exercise Procedure and Payment.  A Consulting Firm may exercise his or its Put Right by email or written notice to ONE, with a copy to other Consulting Firms (but shall not be required to give notice to any other Consulting Firm after November 10, 2011) stating the number of shares which it desires to sell to ONE, accompanied or followed by tender of share certificates duly endorsed or accompanied by stock powers duly signed in blank form, with signature guarantees. Payment of the Put Price shall be made by ONE by wire transfer of funds to the Consulting Firm within three business days of receipt of the foregoing documentation, but shall not be required to be made before June 10, 2011. Time shall be of the essence with respect to payment of the Put Price, failing which the Consulting Firms shall be entitled to their rights under Section 3(b) and 3(c) and Section 4(e). Upon receipt by the Consulting Firm of the Put Price the tendered shares shall be cancelled or, at the option of ONE, designated as treasury shares.

 

(b)  Security.  As security for ONE’s Put Right obligations set forth above, ONE, no later than one day following the later of (1) release of any existing collateral securing any other obligations of ONE to a Consulting Firm, and (2) termination of UTA’s signature authority over ONE’s PRC-based accounts, but in any event no later than May 31, 2011, time being of the essence with respect to such date:

 

  

2

  

 

(i)  shall cause to be established and funded a PRC-based bank cash or investment account, under the sole control of UTA Capital LLC as regards withdrawals and transfers of funds (the “Blocked PRC Account”), that shall at all times hold cash or short-term cash-equivalents initially in the amount of $1,500,000, but at all times equal to not less than 200% of the aggregate amount due under all Put Rights if all shares subject thereto and not previously purchased by ONE were tendered, and in no event less than $750,000 until the first to occur of (x) all remaining shares subject to Put Rights are purchased, or (y) December 31, 2011, at which time the Share Collateral (as defined below in Section 3(b)(ii)) shall be released and the US Cash Collateral Account (as defined below in Section 3(c)) shall terminate; and

 

(ii)  shall cause one or more of its principal shareholders to deposit share certificates, with stock powers duly endorsed in blank and signature guarantees, representing 500,000 shares of its Common Stock (the “Share Collateral”), with the Consulting Firms or their designee, as security for the obligations of ONE hereunder.

 

(c)  Alternative Security at ONE’s Election. As alternative security for ONE’s Put Right obligations set forth above, ONE may at any time establish and grant to the Purchasers, and Purchasers shall accept, in lieu of and substitution for the Blocked PRC Account and Share Collateral, a first priority security interest in a U.S. bank deposit account (the “US Cash Collateral Account”), having cash or short-term cash-equivalents at all times equal to not less than 110% of the aggregate amount due under all Put Rights, pursuant to an account control  agreement with UTA Capital LLC and a US banking institution granting UTA Capital LLC customary rights as a pledgee and account control party under the Uniform Commercial Code, including the right to take full possession of and title thereto in the event ONE defaults in its obligations under this Agreement.

 

(d)  Increased Put Price upon Default.  In the event ONE defaults in its obligation to promptly purchase any shares which are the subject of Put Rights from any Consulting Firm, or to establish by May 31, 2011 the collateral described in Section 3(b) above, then, in addition to such Consulting Firm’s right to seek specific performance of (i) the Put Rights, (ii) the right to obtain the collateral described above and/or (iii) its rights as pledgee as against the Blocked PRC Account and Share Collateral or the US Cash Collateral Account described above, the per share Put Price for the un-purchased shares which are subject to the Put Rights shall be increased at the rate of 5% per month or any part of a month that such default continues.

 

(e)  ONE Right to Accelerate Consummation of Put Rights.  ONE shall have the right, at any time, to accelerate consummation and liquidation of all (but not less than all) then remaining outstanding Put Rights by prepaying the remaining unpaid aggregate Put Price, discounted, at the rate of 8% per annum, from the applicable Target Payment Date back to the actual prepayment date. The “applicable Target Payment Date” shall mean June 10, 2011 to the extent that any part of the first $450,000 of the original aggregate Put Price is being prepaid, and shall mean November 10, 2011 as to any of the remaining $300,000 of the original aggregate Put Price that is being prepaid.   Such discount rate shall not apply to any portion of the Put Price paid in satisfaction of any Put Rights exercised by a Purchaser in accordance with Section 3(a)(iv) this Agreement.

 

(f)  No Other Compensation.  Except as explicitly provided herein, a Consulting Firm shall not be entitled to any other compensation for its consulting and advisory services during or following the termination of the Consulting Period.

 

  

3

  

 

4. Miscellaneous.

 

(a)  Independent Contractor Status.  The parties hereto mutually agree that each Consulting Firm is being engaged hereunder as an independent contractor.  ONE will not withhold any wage or employment taxes in respect of compensation paid hereunder, but will issue the Consulting Firm information reports relating thereto, as required by applicable law and regulations.

 

(b) Entire Agreement. This Agreement contains the entire agreement between the parties hereto with respect to the subject matter hereof and supersedes all other agreements and understandings with respect thereto, oral or otherwise.

 

(c) Amendment and Waiver. No amendment, modification or waiver of this Agreement or any of its provisions shall be valid unless made in writing and signed by ONE and any Consulting Firm affected thereby.  No waiver of any of the provisions of this Agreement shall be deemed or shall constitute a waiver of any other provisions hereof (whether or not similar) nor shall such waiver constitute a continuing waiver.

 

(d) Severability.  If any provision or provisions of this Agreement shall be held invalid, illegal or unenforceable for any reason whatsoever, (a) the validity, legality and enforceability of the remaining provisions of this Agreement (including, without limitation, all portions of any paragraphs of this Agreement containing any such provision held to be invalid, illegal or unenforceable, that are not themselves invalid, illegal or unenforceable) shall not in any way be affected or impaired thereby, and (b) to the fullest extent possible, the provisions of this Agreement (including, without limitation, all portions of any paragraph of this Agreement containing any such provision held to be invalid, illegal or unenforceable, that are not themselves invalid, illegal or unenforceable) shall be construed so as to give effect to the intent manifest by the provision held invalid, illegal or unenforceable.

 

(e) Disclosure.  ONE and Purchasers acknowledge and agree that the terms of this Agreement shall be disclosed and summarized, in accordance with customary public company disclosure practices, in one or more SEC periodic reports on Form 8-K and/or 10-Q filed during the term of this Agreement.

 

(f) Specific Performance.  ONE hereby acknowledge and confirm that it is impossible to measure in money the damages which will accrue to a Consulting Firm or to its heirs, personal representatives, or assigns by reason of a ONE failure to perform any of its obligations under this Agreement and therefore agree that the terms of this Agreement shall be specifically enforceable by each Consulting Firm.  If any Consulting Firm or its or his heirs, personal representatives, or assigns institutes any action or proceeding to specifically enforce the provisions hereof, ONE (i) hereby waives the claim or defense therein that such party or such personal representative has an adequate remedy at law, and (ii) hereby confirms that it shall not offer in any such action or proceeding the claim or defense that such remedy at law exists.

 

(g) Governing Law; Jurisdiction. This Agreement shall be governed by and construed in accordance with the laws of the State of New York applicable to agreements made and to be performed entirely within such state (but without regard to the conflict of laws principals thereof). The parties hereto agree to the non-exclusive jurisdiction of the federal and state courts in the Borough of Manhattan in New York City, State of New York with respect to any disputes arising out of this Agreement.

 

(g) Notices.  All notices and other communications required or permitted under this Agreement shall be in writing and shall be either hand delivered in person, sent by facsimile, sent by certified or registered first-class mail, postage pre-paid, sent by nationally recognized express courier service next day delivery or sent by email with confirmation of receipt by the addressee. Such notices and other communications shall be effective upon receipt if hand delivered or sent by facsimile, upon receipt of confirmation of receipt by the addressee if sent by email, five (5) days after mailing if sent by mail, one day after dispatch if sent by express courier, to the addresses set forth on the signature page hereof, or to such other addresses as any party may notify the other parties in accordance with this Section 4(g).

 

[Text Continued on Following Page]

 

 

 

-  -

  

4

  

If the foregoing accurately reflects the agreement between us, please confirm your approval and acceptance thereof by signing the enclosed copy of this letter and returning it to the undersigned.

 

	 	 Very truly yours,	 
	 	 	 
	 	ONE BIO CORP.	 
	 	 	 	 
	 	
By: 

	/s/ Marius Silvasan	 
	 	 	Name:	 
	 	 	Title:	 
	 	 	 	 
	AGREED AND ACCEPTED AS OF 

THE DATE WRITTEN ABOVE:

	 	 	 
	 	 	 	 
	 	CONSULTING FIRMS:	 
	 	 	 	 
	 	
UTA CAPITAL LLC,

	 
	 	
a Delaware limited liability company

	 
	 	By: 	YZT Management LLC, its Managing Member	 
	 	 	 	 
	 	 	By:	/s/Udi Toledano	 
	 	 	Name:	Udi Toledano	 
	 	 	Title:	Managing Member	 
	 	 	Address:	    100 Executive Drive, Suite 330	 
	 	 	 	    West Orange, NJ 07052	 

 

	 	GAL DYMANT	 
	 	/s/ Gal Dymant	 
	 	Gal Dymant	 
	 	Address:	
    Flat B, 21/F

	 
	 	 	
    Tower 1, Estoril Court

	 
	 	 	    55 Garden Road	 
	 	 	    Hong Kong, HK	 
	 	 	 	 	 
	 	
ALAN FOURNIER

	 
	 	
/s/Alan Fournier

	 
	 	
Alan Fournier

	 
	 	Address:	
    11 Spring Hollow Road

	 
	 	 	    Far Hills, New Jersey 07931	 

 

  

5

  

Schedule 1

 

	
Consulting Firm

	
Maximum Number of Conversion Shares Subject to Put Right

	
UTA Capital LLC

	
103,448 Shares

	
Gal Dymant

	
18,104 Shares

	
Alan Fournier

	
28,448 Shares

	
Total

	
150,000 Shares

 

  

6

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00186-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00186-of-00352.parquet"}]]