Document:

EX-10.1

 Exhibit 10.1 
  

			
	 

	 	 132.SGP.Cisco Systems (USA) Pte. Ltd.

UE BizHub East
 8 Changi Business Park Avenue 1

SINGAPORE 486018
 http://www.cisco.com

 Letter of Transfer 

International Transfer 

18-Feb-2021 

Tiang Yew Irving Tan 
 300 East Tasman Drive 

SAN JOSE, CALIFORNIA 95134 
 USA 

Dear Tiang Yew Irving: 
 This letter is to confirm
the details of your transfer under Cisco’s Local International Transfer Policy to 132.SGP.Cisco Systems (USA) Pte. Ltd. in Singapore. This letter pertains only to the remuneration, services and changes that will occur as a result of your
transfer, as indicated by the International Transfer policy. Under separate cover, you will receive an offer letter outlining the compensation, benefits and employment conditions associated with your local offer at 132.SGP.Cisco Systems (USA) Pte.
Ltd. in Singapore. Your actual start is conditional upon the issuance and maintenance of a valid residency, work and/or any other permits necessary to legally reside and work in Singapore. 

Compensation and Benefits 
 Effective
February 8, 2021, you will receive the salary, applicable bonuses, equity compensation, and benefits that are offered in Singapore. Salary actions, including timing and amounts of increases, will be consistent with the salary program in effect
in Singapore. 
 You will be eligible for the local health and welfare plan coverage in Singapore. Please be aware that there may be an enrolment
process related to the local benefits plan. 
 Your coverage under your current plan in United States will cease with the effective date of your
transfer i.e. February 8, 2021. Additionally you will be eligible for other benefit plans like retirement plans, life insurance, business travel accident insurance, and disability as applicable in Singapore to which you are transferring.
Working hours, vacation, public holidays, and sick leave will follow policies in effect for Singapore. 
 You will no longer participate in United
States benefit plans. 

  
  

 

			
	Employee Initials /s/ IT	  	Page 1

 Transfer Remuneration and Transition Support 

You will receive the following allowances and services to assist with your transition: 

Tiang Yew Irving Tan 
 New Location:
Singapore 
 Summary of International Transfer - Benefit & Services 

 

							
	 	 	 	 
	
  Benefit / Service
	  	Description	  	Delivery	 	Frequency
	 	 		 
	 Relocation Time

Off (RTO)
	  	 Up to 3 business days off to complete personal matters as part of the
relocation
	  	Discuss and agree RTO with your manager. No reporting is needed, unless legally required	 	Up to 1 month prior to relocation and up to 3 months post relocation
	Tax Briefing	  	
Mandatory tax briefing, one for current country and one for new country, through the Cisco approved tax provider
	  	Direct billed to Cisco	 	Prior to transfer
	Tax Preparation	  	 Tax preparation
through the Cisco approved provider for the current and new location for the year of transfer
	  	Direct billed to Cisco	 	At country specific tax year-end
	Enroute Travel – Employee and Dependents	  	 Enroute travel in accordance with the
Cisco Global Travel Policy.
 Must be booked through the Relocation Vendor using Cisco Relocation Travel desk (CisART).
	  	Airfare/train direct billed to Cisco	 	Prior to transfer
	 Baggage and Transportation

to/from airport
	  	 Reimbursement of up to the equivalent of
500.00 USD for baggage fees against actual receipts.
 Transportation to and from the airport/train station and meals on day of travel reimbursed
with receipts through Relocation Vendor expense tool.
	  	Submit eligible expenses through Relocation Vendor expense tool	 	Upon transfer
	Temporary Living - Accommodation	  	 60 days of temporary living (serviced
apartment or hotel depending on the number of days) to be used in current and/or new location
	  	Direct billed to Cisco or reimbursed by Relocation Vendor	 	Upon transfer
	Temporary Living - Transportation	  	 60 days rental car and fuel reimbursement per Cisco Global Travel
Policy
	  	Submit eligible expenses through Relocation Vendor expense tool	 	Upon transfer
	Household Goods Shipment- Air	  	 Air shipment managed by Cisco Relocation
Provider.
 160 cu ft (1x D + x LDN container)
	  	Direct billed to Cisco	 	Prior to transfer
	Household Goods Shipment - Sea	  	 Sea
shipment based on family size managed by Cisco Relocation Provider.
 40 foot container

Storage in Transit: up to 30 days
	  	Direct billed to Cisco	 	Prior to transfer

  
  

 

			
	Employee Initials /s/ IT	  	Page 2

							
	 	 		 
	Vehicle - Loss on sale subsidy	  	 Reimbursement of up to the equivalent of 10,000.00 USD.

If taxable in Singapore, Cisco will be responsible for the applicable tax liability.
	  	Submit supporting documentation and eligible expenses through Relocation Vendor expense tool	 	Prior to transfer
	Miscellaneous Allowance	  	 One-time net allowance of 77,077 SGD
	  	Paid via new country payroll after relocation	 	Following transfer
	
Departure
 Services
	  	 Service to assist with departure support
in the current location through Cisco Relocation Provider
	  	Direct billed to Cisco	 	Upon transfer
	 Home sale
assistance –
 Buyer Value
 Option
	  	 Agent commissions and customary closing
costs on the sale of the primary residence in the US.
 Selling agent must be registered with Relocation Vendor network.

Please refer to the Cisco Home Sale and Marketing Assistance guide for details.

If taxable in Singapore, Cisco will be responsible for the applicable tax liability.
	  	Direct billed to Cisco.	 	Following transfer
	Home Marketing Assistance	  	 Reimbursement up to 10,000.00 USD for the
following:
 i. Painting
 ii. Tune up
exterior landscaping
 iii. Professional carpet cleaning

iv. Professional home staging
 v. Buyer
closing costs
 If taxable in Singapore, Cisco will be responsible for the applicable tax liability.
	  	Submit eligible expenses through Relocation Vendor expense tool.	 	During the Home Sale process
	 Home Sales

Incentive
	  	 Sales
incentive of 2% of the home sale value if an offer is received and accepted within the first 90 days of listing; 1% if an offer is received and accepted between 91 and 180 days of listing.

Employee is responsible for taxes.
	  	Paid via payroll through first available payroll cycle after the home is acquired by the Relocation Vendor.	 	During the Home Sale process

 The relocation elements of the compensation package are contingent upon your execution of the attached Relocation Agreement and
compliance with the terms of that Agreement. No substitutions or cash outs for any of the provided relocation components are permitted. All relocation benefits are available for up to 12 months from the transfer/assignment start date, unless
separately specified. 
 Other Transfer Terms and Conditions 

Code of Business Conduct 
 In order to
commence your transfer, you must have executed the most recent Code of Business Conduct. 

  
  

 

			
	Employee Initials /s/ IT	  	Page 3

 Taxes and Tax Services 

Taxes 
 As result of your transfer, you will be
responsible for all income taxes in both your current location and the new location, as per country specific tax rules and regulations. 
 Failure to
comply may create issues with visa renewals, incur tax penalties which will be your responsibility and even in severe cases, involve penal punishment. 
 Some
countries offer a special tax regime which provides a preferential effective rate of income taxation through reductions in the tax rate or the tax base. Obtaining this special tax status is the employee’s responsibility. 

Tax Gross-up may be applied when the transfer related remuneration and services you receive under the
International Transfer policy requires the company to provide the remuneration or services as a guaranteed net payment after taxes are deducted. Tax Gross-up is however limited to income and social taxes, and
to a limited extent, the exit taxes in effect in certain countries. 
 Please review the Global Tax Policy for further details. Cisco shall
have the right and privilege at any time it deems necessary and proper to amend, add, or delete provisions to and from the Global Tax Policy without prior notice. 

Tax Briefing 
 Cisco has retained an
international tax firm, Ernst & Young, to assist you with the understanding of your taxes, both in the current and new Payroll location.

You are required to meet with the tax vendor consultants both at current and new locations. These meetings are critically important to ensure tax
and legal compliance are met and any risk for the Company due to your transfer is effectively managed. 
 You are encouraged to seek tax advice from
your personal tax advisor at your own expense to determine the impact of any relocation payments upon your individual tax liability. You are also encouraged to save all of your relocation expense receipts for tax purposes. 

The IRS provides tax information, forms and publications at no charge to the public at
http://www.irs.gov. 
 Tax
Preparation 
 In addition to the tax briefing, Cisco has retained Ernst & Young to assist you with the preparation and filing of your
taxes, both in the current and new Payroll location for the year of transfer. 
 You will be fully responsible for all penalties and interest charges
assessed by any tax authority due to your failure to (1) provide information to Cisco’s tax vendor, Ernst & Young, on a timely basis, (2) notify Ernst & Young of any significant personal income or investment
transactions, or (3) cooperate with Cisco with respect to the tax gross-up process. 
 This letter,
together with its attachments, states our entire understanding of your transfer remuneration and services. However, this letter does not modify, amend or supersede written Cisco agreements and policies that are consistent with enforceable
provisions of this letter such as Cisco’s “Proprietary Information and Invention Agreement” and Cisco’s Arbitration Agreement. In addition, this letter, its attachments and their contents do not modify or supersede any local laws
which may prohibit the application of other policies deemed corporate policies of Cisco Systems, Inc. such as the International Transfer policy or the Tax Policy. You should not sign this letter unless you understand it. You should also

  
  

 

			
	Employee Initials /s/ IT	  	Page 4

 
be aware that some listed provisions may be changed from time to time as legal requirements may dictate, new practices may require, or for other reasons at the discretion of the Company. In the
event this should happen, notification will be provided. If questions should arise concerning any provision listed or any subsequent revisions to policies applicable to employees on international transfer, you are urged to consult with your Cisco
Relocation Services Provider, or your Cisco Relocation Advisor. 
 Please acknowledge receipt of this letter and agreement with its terms by signing
this letter and returning a scanned copy to Sara Modena at                     . 

Sincerely yours, 
  

									
	/s/ Chuck Robbins	  	                              
      	  	February 22, 2021	  	                    	  	
					
	Signature	  		  	Date	  		  	
	Chuck Robbins	  		  		  		  	
	Manager	  		  		  		  	

  
  

 

									
	ACKNOWLEDGE AND CONCUR: 	  	/s/ Irving Tan	  	 	 	February 21, 2021	 	
		  	Tiang Yew Irving Tan	  	        ID Number	 	            Date	 	

  
  

  
  

 

			
	Employee Initials /s/ IT	  	Page 5

 

 
 18-Feb-2021 

Tiang Yew Irving Tan 
 300 East Tasman Drive 

SAN JOSE, CALIFORNIA 95134 
 USA 

Relocation Payback Agreement 

I understand and agree that Cisco Systems, Inc. (“Cisco”) may, in its sole discretion, require that I provide acceptable documentation of some
or all of my relocation expenses before reimbursing me for those expenses.
 I further understand and agree that Cisco’s obligation to make any
relocation payment(s) is contingent upon my continued employment with the Company. If I voluntarily terminate my employment within the first 24 months of my relocation, I agree to pay back a prorated portion of all the relocation payments
advanced to me or paid on my behalf by Cisco. 
 In the event that Cisco involuntarily terminates my employment without cause or as result of a
restructuring, no reimbursement is required. However, in the event that my employment is involuntarily terminated during the 24 months of employment in the new Payroll location for Cause as defined below, I agree to repay Cisco for
the relocation costs Cisco advanced to me or paid on my behalf by Cisco in a prorated amount. A termination for “Cause” will mean a termination for any of the following reasons: (i) your continued material failure to
perform your duties to Cisco (other than due to your death or disability after there has been delivered to you a written demand for performance which describes the specific material deficiencies in your performance and the specific manner in which
your performance must be improved, all in accordance with the Cisco performance management plan, and which provides thirty (30) business days from the date of notice, or the amount of time specified in any applicable Cisco performance
management plan, whichever is greater, to remedy such performance deficiencies; (ii) your engaging in an act of willful misconduct that has had or will have a material adverse effect on Cisco’s reputation or business; (iii) your being
convicted of, or a plea of no contest to, a felony; (iv) your committing an act of fraud against, or willful misappropriation of property belonging to, Cisco; or (v) your material breach of the Cisco Code of Business Conduct, Conflict of
Interest Agreement or Proprietary Information and Inventions Agreement. 
 I agree to pay the balance in full to Cisco within thirty
(30) days of my termination date. 
 In the event that the move is cancelled voluntarily by me prior to the completion of the transfer, I agree
to repay Cisco for any funds advanced or benefits paid on my behalf.
 In cases where the move is cancelled by Cisco prior to the completion of
the transfer, Cisco agrees to reimburse me for relocation costs incurred in preparation for the move. I agree in this scenario, to provide receipts as proof of the relocation costs incurred.

 

			
	   /s/ Irving Tan
	  	February 21, 2021
	Signature	  	Date

  
  

 

			
	Employee Initials /s/ IT	  	Page 6Converted by EDGARwiz

BUSINESS ADVISORY AGREEMENT

THIS AGREEMENT (the “Agreement”) dated as of February 10th 2020 by and between Astro Aerospace Ltd. (the “Company”) and SBC Investments Ltd. (the “Advisor”).

W I T N E S S E T H:

WHEREAS, the Company desires to retain Advisor to provide business advisory services to the Company; and

NOW, THEREFORE, in consideration of the foregoing and the mutual promises and covenants herein contained, it is hereby agreed as follows:

SECTION 1.  Retention.

(a)

The Company hereby retains the Advisor to perform the services set forth in below during the twelve (12) month period commencing on the date hereof.  This Agreement shall automatically renew for additional one (1) year periods unless terminated in writing not less than thirty (30) days prior to the original or any subsequent expiration date (the original one-year period and any renewals thereof shall collectively hereafter be referred to as the “Term”).  The Advisor hereby accepts such retention and shall perform for the Company the duties described herein, faithfully and to the best of its ability.  During the Term, the Advisor shall report directly to the President or to any other senior officer designated in writing by the President of the Company.

(b)

The Advisor shall render such advice and services to the Company as may be reasonably requested by the Company concerning equity and/or debt financings, strategic planning, merger and acquisition possibilities and business development activities including, without limitation, the following:

(i)

Study and review of the business, operations, and historical financial performance of the Company (based upon management’s forecast of financial performance) so as to enable the Advisor to provide advice to the Company;

(ii)

Assist the Company in attempting to formulate the best strategy to meet the Company’s working capital and capital resource needs;

(iii)

Introduce the Company to potential non-US lenders of funds as well as to potential non-US investors (whether such investment is in the form of debt and/or equity financing or some combination thereof).

(iv)

Assist in the formulation of the terms and structure of any reasonable proposed business combination transaction involving the Company, including without limitation, any merger or consolidation, sale of assets, or sale or exchange of stock (a “Business Combination”);

(v)

Assist in the presentation to the Board of Directors of the Company of any proposed transaction.

SECTION 2.  Compensation.

(a)

A one-time fee of  1,500 Series B Preferred. ( EACH PREF CONVERTS INTO 1333 SHARES) shares of the Company’s stock for the introduction and subsequent closing of the acquisition of Horizon Aircraft Corporation. In conjunction with the closing of Horizon the Company must close a financing in excess of $5,000,000 USD. The fee will be payable once Horizon Aircraft Corporation is closed and the financing is completed. 

(b)

If during the Term if the Company completes an equity financing on which the Advisor worked, including any securities convertible into equity (an “Equity Financing”), the Company shall pay the Advisor at closing (i) a fee equal to five percent (5%) of the equity the Company issued in the Equity Financing payable, at the discretion of the Advisor, in cash or in the same form of Company’s equity issued in the Equity Financing.

(c)

If during the Term the Company completes a Business Combination, other than Horizon Aircraft Corporation, with a public or private company on which the Advisor worked, the Company shall pay the Advisor, a fee equal to 2.5% of the Company’s issued and outstanding common stock, on an as-converted, fully diluted basis (the “Business Combination Fee”).  The Business Combination Fee shall be deemed earned and payable upon the closing of the Business Combination.

(d)

Each potential source of financing, potential Business Combination candidate or any other Company either (a) introduced to the Company by Advisor (and each financing source introduced to the Company by any Advisor Source) or (b) is introduced by Company to Advisor whereby Advisor provided advisory services related to a potential transaction, including but not limited to any Equity Financing or Business Combination (collectively, a “Fee Transaction”) during the Term of this Agreement shall be deemed a “Advisor Source”.  In the event Company completes a Fee Transaction with any Advisor Source (or with a financing source introduced to Company by any Advisor Source listed in Schedule A) within two (2) years of the termination of this Agreement, Company shall pay to Advisor its full fee due under sections 2(a), or 2(b), except if the Company has terminated this Agreement following the failure of Advisor to perform any of its material obligations under this Agreement, provided that the Company has complied with its material obligations hereunder.

(e)

Except as otherwise provided for herein:

(i)

All fees due the Advisor hereunder shall have no offsets, are non-refundable, non-cancelable and shall be free and clear of any and all encumbrances.

(ii)

All unrestricted securities fees due the Advisor hereunder shall be made via DTC or the DWAC system if eligible for such system, or by certificates issued by the transfer agent for the Company or the Company, as applicable, and shall be delivered to the Advisor by the Closing Agent immediately upon closing of any Fee Transaction.

(iii)

All securities fees due the Advisor hereunder shall be duly issued, fully-paid (exclusive of warrants or options) and non-assessable and shall be in the same form, with the same terms and conditions as the securities provided to the Company pursuant to any Fee Transaction.

(iv)

For the purposes of this Agreement, “Registrable Securities” shall mean (i) all shares of Common Stock of the Company paid or payable to the Advisor under this Agreement, (ii) all shares of Common Stock into which convertible securities issued or issuable to the Advisor under this Agreement are convertible and (iii) all shares of common stock into which derivative securities (including, without limitation, warrants and options) issued or issuable to the Advisor are exercisable.  The Company hereby grants to the Advisor “customary piggyback registration rights” and shall register all of the Registrable Securities on any registration statement it files with the Securities and Exchange Commission relating to its securities (excluding registration statements on Form S-8) and in compliance with any and all federal and state securities laws, in the name(s) of and to the account(s) designated by the Advisor.  The Company agrees to pay all costs associated with registering the Registrable Securities for resale.  In order to effectuate the foregoing provisions, at the Advisor’s request, either simultaneously herewith or at any time hereafter, the Company shall execute and deliver to the Advisor a Registration Rights Agreement reflecting the foregoing provisions.

(f)

The Company shall authorize and direct the closing agent to distribute directly or from escrow any and all fees due the Advisor hereunder.  The Company agrees that such fees and the manner of payment and delivery as herein provided shall be included in the documentation of any Fee Transaction.  The Advisor is hereby authorized to notify the Closing Agent, on behalf of the Company and as its agent, to make all payments required hereunder directly to the Advisor.

SECTION 3.  Expenses.  The Company shall reimburse the Advisor for any out-of-pocket expenses incurred by the Advisor in relation to Advisor’s services provided under this Agreement.  Any individual expense in excess of $1,000 shall require the prior written approval of the Company and shall be evidenced by written documentation prior to reimbursement.  Reimbursement by the Company to the Advisor will be made within fifteen (15) days of the Company’s receipt of said documentation.

SECTION 4.  Advisor Restrictions.  Advisor agrees that Advisor shall not (a) introduce the Company to any potential financing source who is a U.S. Person, as that term is defined in Regulation S promulgated under the Securities Act of 1933, as amended (the “33 Act”), and (b) will not itself engage in any “directed selling efforts” (as defined in Regulation S under the 1933 Act) in the United States which includes any activities undertaken for the purpose of, or that could reasonably be expected to have the effect of, conditioning the market in the United States for the resale of any of the securities.

SECTION 5.  Confidential Information.  The Advisor agrees that during and after the Term, it will keep in strictest confidence, and will not disclose or make accessible to any other person without the written consent of the Company, the Company’s products, services and 

technology, both current and under development, promotion and marketing programs, lists, trade secrets and other confidential and proprietary business information of the Company or any of its clients and third parties including, without limitation, Proprietary Information (as defined in Section 7) (all of the foregoing is referred to herein as the “Confidential Information”).  The Advisor agrees (a) not to use any such Confidential Information for itself or others, except in connection with the performance of its duties hereunder; and (b) not to take any such material or reproductions thereof from the Company’s facilities at any time during the Term except, in each case, as required in connection with the Advisor’s duties hereunder.

Notwithstanding the foregoing, the parties agree that the Advisor is free to use (a) information in the public domain not as a result of a breach of this Agreement, (b) information lawfully received from a third party who had the right to disclose such information and (c) the Advisor’s own independent skill, knowledge, know-how and experience to whatever extent and in whatever way he wishes, in each case consistent with his obligations as the Advisor and that, at all times, the Advisor is free to conduct any research relating to the Company’s business.

SECTION 6.  Indemnification.  The Company represents that all materials provided or to be provided to the Advisor or any third party regarding the Company’s financial affairs or operations are and shall be truthful and accurate and in compliance with any and all applicable federal and state securities laws.  The Company agrees to indemnify and hold harmless the Advisor and its professionals, lawyers, consultants and affiliates, their respective directors, officers, shareholders, partners, members, managers, agents and employees and each other person, if any, controlling the Advisor or any of its affiliates to the full extent lawful, from and against all losses, claims, damages, liabilities and expenses incurred by them (including reasonable attorneys’ fees and disbursements) that result from actions taken or omitted to be taken (including and untrue statements made or any statement omitted to be made) by the Company, its agents or employees which relate to the scope of this Agreement and the performance of the services by the Advisor contemplated hereunder.  The Advisor will indemnify and hold harmless the Company and the respective directors, officers, agents, affiliates and employees of the Company from and against all losses, claims damages, liabilities and expenses that result from bad faith, gross negligence or unauthorized representations of the Advisor.  In no event shall the Advisor be responsible or liable hereunder for an amount in excess of the compensation received by it pursuant to this Agreement.  Each person or entity seeking indemnification hereunder shall promptly notify the Company, or the Advisor, as applicable, of any loss, claim, damage or expense for which the Company or the Advisor, as applicable, may become liable pursuant to this Section 6.  No party shall pay, settle or acknowledge liability under any such claim without consent of the party liable for indemnification, and shall permit the Company or the Advisor, as applicable, a reasonable opportunity to cure any underlying problem or to mitigate actual or potential damages.  The scope of this indemnification between the Advisor and the Company shall be limited to, and pertain only to certain transactions contemplated or entered into pursuant to this Agreement.

The Company or the Advisor, as applicable, shall have the opportunity to defend any claim for which it may be liable hereunder, provided it notifies the party claiming the right to indemnification in writing within fifteen (15) days of notice of the claim.

3

The rights stated pursuant to this Section 6 shall be in addition to any rights that the Advisor, the Company, or any other person entitled to indemnification may have in common law or otherwise, including, but not limited to, any right to contribution.

SECTION 7.  Notices.  Any notice or other communication under this Agreement shall be in writing and shall be deemed to have been duly given: (a) upon facsimile transmission (with written transmission confirmation report) at the number designated below; (b) when delivered personally against receipt therefore; (c) one day after being sent by Federal Express or similar overnight delivery; or (d) five (5) business days after being mailed registered or certified mail, postage prepaid.  The addresses for such communications shall be as set forth below or to such other address as a party shall give by notice hereunder to the other party to this Agreement.

SECTION 8.  Independent Contractors.  The Advisor shall be deemed to be an independent contractor and, except as expressly provided or authorized in this Agreement, shall have no authority to act for on behalf of or represent the Company.  This Agreement does not create a partnership or joint venture.

SECTION 9.  Other Activities of Advisor.  The Company recognizes that the Advisor now renders and may continue to render financial consulting and other investment banking services to other companies that may or may not conduct business and activities similar to those of the Company.  The Advisor shall not be required to devote its full time and attention to the performance of its duties under this Agreement, but shall devote only so much of its time and attention as it deems reasonable or necessary for such purposes.

SECTION 10.  Successors and Assigns.  This Agreement and all of the provisions hereof shall be binding upon and inure to the benefit of the parties hereto and their respective successors and permitted assigns.  This Agreement and any of the rights, interests or obligations hereunder may not be assigned by either party without the prior written consent of the opposing party, which consent shall not be unreasonably withheld.

SECTION 11.  Severability of Provisions.  If any provision of this Agreement shall be declared by a court of competent jurisdiction to be invalid, illegal or incapable of being enforced in whole or in part, the remaining conditions and provisions or portions thereof shall nevertheless remain in full force and effect and enforceable to the extent they are valid, legal and enforceable, and no provision shall be deemed dependent upon any other covenant or provision unless so expressed herein.

SECTION 12.  Entire Agreement: Modification.  This Agreement and the schedules hereto contain the entire agreement of the parties relating to the subject matter hereof, and the parties hereto and thereto have made no agreements, representations or warranties relating to the subject matter of this Agreement which are not set forth herein.  No amendment or modification of this Agreement shall be valid unless made in writing and signed by each of the parties hereto.

SECTION 13.  Non-Waiver.  The failure of any party to insist upon the strict performance of any of the terms, conditions and provisions of this Agreement shall not be construed as a waiver or relinquishment of future compliance therewith; and the said terms, 

conditions and provisions shall remain in full force and effect.  No waiver of any term or condition of this Agreement on the part of any party shall be effective for any purpose whatsoever unless such waiver is in writing and signed by such party.

SECTION 14.  Governing Law.  The parties hereto acknowledge that the transactions contemplated by this Agreement bear a reasonable relation to the state of Texas.  This Agreement shall be governed by, and construed and interpreted in accordance with, the internal laws of the state of Texas without regard to such state’s principles of conflicts of laws.  The parties irrevocably and unconditionally agree that the exclusive place of jurisdiction for any action, suit or proceeding (“Actions”) relating to this Agreement shall be in the state or federal courts situated in the city of Dallas and state of Texas.  Each party irrevocably and unconditionally waives any objection it may have to the venue of any Action brought in such courts or to the convenience of the forum.  Final judgment in any such Action shall be conclusive and may be enforced in other jurisdictions by suit on the judgment, a certified or true copy of which shall be conclusive evidence of the fact and the amount of any indebtedness or liability of any party therein described.  Service of process in any action by any party may be made by serving a copy of the summons and complaint, in addition to any other relevant documents, by commercial overnight courier to any other party at their address set forth in this Agreement.

SECTION 15.  Headings.  The headings of the Sections are inserted for convenience of reference only and shall not affect any interpretation of this Agreement.

SECTION 16.  Counterparts.  This Agreement may be executed in counterpart signatures, each of which shall be deemed an original, but all of which, when taken together, shall constitute one and the same instrument, 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) the same with the same force and effect as if such facsimile signature page were an original thereof.

IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year first written above.

By: ___/s/Bruce Bent_________________________

Bruce Bent, President

SBC Investments Ltd

By: ___/s/Katie Fell__________________________ 

Katie Fell, Director

5

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00322-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00322-of-00352.parquet"}]]