Document:

wns_ex103.htm

Exhibit 10.3

 

GOING PUBLIC ENGAGEMENT

 

Agreement (this "Agreement") dated as of May 16, 2009 between WNS STUDIOS, INC. ( the "Company”), and Shmuel's Hatzlacha Consulting, Inc (the "Consultant").

 

WHEREAS, the Consultant has experience in taking companies public and locating financing sources for such public companies; and

 

WHEREAS, the Company desires to become a public company and wants to engage the Consultant on the terms and conditions contained herein.

 

NOW, THEREFORE, in consideration of the premises and the representations, covenants and agreements hereinafter set forth, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Company and the Consultant agree as follows:

 

Section 1.  Term of Engagement.  The Company agrees that Consultant shall serve as the Company’s exclusive financial advisor for no less than an initial term of one (1) year commencing on May 16, 2009 and ending on April 30, 2010 or when the Company becomes an SEC reporting company, whichever is later.

 

Section 2.  Duties. Working with the Company, Consultant hereby agrees to perform consulting and advisory services for the Company in conjunction with the development of a full federally registered securities registration package for the sale to the public of the securities of the Company. Said duties shall include:

Phase 1 - The first step is for Consultant to conduct a business plan review in an effort to introduce the Company to broker-dealers and others who might be interested in raising capital for the Company.  Next is to prepare a registration statement on Form S-1. Company agrees to pay all required fees and expenses, including without limitation, legal and an audit of the Company by a Public Company Accounting Oversight Board registered accounting firm, as further provided below.

 

Phase II - Once S-1 Registration Statement is filed with SEC, the SEC will issue comment letters.  All comment letters require filing responsive amendments.  Constantly updated information, including financial statements, will be required with each amendment.

 

Phase III -  The preparation of the Form 15c-211 to be filed with FINRA by the appropriate licensed market maker as the original application for the listing of the securities of the Company on the NASD Over the Counter Bulleting Board.

 

Phase VI – After the Company is public (i.e., the SEC has declared the registration statement effective), there are many continuing SEC reporting requirements and restrictions.  These include filing a Form 10-Q with reviewed financial statement 45 days after the end of each quarter; filing a Form 10-K with audited financial statements 90 days after the end of each fiscal year; reports on a Form 8-K each time a material event occurs in the Company; and obligations of the officers, directors and principal stockholders of the Company to file ownership and trading reports.

 

  

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Company agrees to provide Consultant with any information and documents as may be requested by Consultant in connection with the services to be performed for Company.  Company shall be solely responsible for the accuracy of the information and representations contained in any documents to be prepared by Consultant on behalf of Company.  Company agrees that Consultant shall have no responsibility to verify the accuracy or adequacy of any statement, document, fact or information provided to Consultant by Company or Company’s attorney, accountant, representative or agents. Consultant agrees not to use any information provided by the Company without the approval of the Company.

 

Section 3. Non-Circumvention.  The Company acknowledges that the Consultant will introduce the Company to certain of its contacts, including without limitation, brokers-dealers, market makers and investment bankers and underwriters (collectively, "Contacts") for the purpose of assisting the Company in become a public company. The Company agrees that without the prior written consent of Consultant, it shall not directly or indirectly conduct any business discussions with any Contact or any representative thereof or any person or entity introduced to the Company or any of its officers, directors, employees, stockholders, agents or representatives by a Contact or any of his representatives. In addition, once discussions have been held, the Company shall not attempt to circumvent or negotiate directly or indirectly with a Contact for the purpose of excluding Consultant and depriving Consultant of the fee described below. The provisions of this paragraph shall survive for two (2) years from the termination of this Agreement.

Section 4.   Consultant’s Fee.  For providing services as set forth herein, the Company hereby agrees to pay Consultant as follows:

(i)           7% of the aggregate value of the capital invested in the Company directly or indirectly by the Contacts. The Company shall pay to Consultant said fee only if a transaction is consummated with one of the Contacts or a person or group introduced by a Contact. The value of the transaction shall be equal to the gross cash proceeds received by the Company plus the fair market value of any securities or other property received or to be received by the Company in the transaction. For purposes of computing the value of the fee, any amounts payable to the Company in installments shall be deemed paid in full at the consummation of the transaction. The Consultant shall be entitled to the fees enumerated herein if, within two years after the termination of this Agreement, any financing transaction is consummated with any person or group of persons or any affiliate of any such persons or their affiliates which are identified to the Company, its officers, directors, stockholders or representatives by the Consultant in accordance with the terms of this Agreement. Any assets acquired by the Company which belonged to an affiliate of the Company shall not be included in this provision.

 

  

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Consultant agrees that the fee payable to him for any capital raises in excess of $5,000,000 shall be negotiated between the parties, but said fee shall not be in excess of $7%.

 

(ii)           $9,000 as a retainer, to be paid

 

Notwithstanding anything contained herein to the contrary, the Company shall pay the Consultant if there is any capital invested in the Company directly or indirectly a Contact, regardless of such Contact invested in a registered offering, a private placement, a convertible debenture offering or otherwise.

 

Section 5. Indemnification.  The Company hereby agrees to indemnify and hold harmless Consultant, its partners, employees, agents, representatives, assigns, and controlling persons (and other officers, directors, employees, agents, representatives, assigns and controlling persons) from any and all losses, claims, damages, liabilities, costs, and expenses (and all other actions, suits, proceedings, or claims in respect thereof) and any legal or other expenses in giving testimony or furnishing documents in response to a subpoena or otherwise (including, without limitation, the cost of investigating, preparing or defending any such action, suit, proceeding, or claim, whether or not in connection with any action, suit, proceeding or claim for which it is a party), as and when incurred, directly or indirectly, caused by, relating to, based upon or arising out of the services pursuant to this agreement so long as Consultant has not committed intentional or willful misconduct, nor acted with gross negligence, in connection with the services which form the basis of the claim for indemnification.  Company further agrees that Consultant shall incur no liability on account of this agreement or any acts or omissions arising out of or relating to this agreement except for such intentional or willful misconduct.  This paragraph shall survive the expiration or termination of this agreement.

 

Section 6. Independent Contractor Status:  Consultant shall perform its services under this contract as an independent contractor and not as an employee of Company or an affiliate thereof.  It is expressly understood and agreed to by the parties hereto that Consultant shall have no authority to act for, represent or bind Company or any affiliate thereof in any manner, except as provided for expressly in this Agreement or in writing by Company.

 

Section 7. Miscellaneous. This Agreement shall inure to the benefit of the parties hereto and their respective successors and assigns. No failure or delay by the Consultant or any of its representatives in exercising any right, power or privilege under this Agreement shall operate as a waiver thereof nor shall any single or partial exercise thereof preclude any other or future exercise of any right, power or privilege hereunder. In case any provision of this Agreement shall be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions of the Agreement shall not in any way be affected or impaired thereby. This Agreement shall be governed by and construed in accordance with the laws of the State of New York without giving effect to choice of law doctrine. Each party hereto consents to personal jurisdiction in New York State and voluntarily submits to its jurisdiction in any action or proceeding with respect to this Agreement.  Venue for any action arising hereunder shall lie in the state and federal courts located in New York, New York.  This Agreement shall constitute the entire agreement, whether oral or written, of the parties hereto and may only be amended by a writing executed by the parties hereto. The Company acknowledges that this Agreement shall only relate to the services provided for herein and any other services requested of the Consultant by the Company shall be subject to a separate agreement.

 

 

  

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The individuals are executing this agreement personally on behalf of a Company to which they will be establishing promptly after the execution hereof.

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

 

	 	
CLIENT

	 	
Consultant

	 
	 	  	 	  	 
	 	
WNS STUDIOS, INC 

	 	
Shmuel’s Hatzlacha Consulting inc

	 
	 	 	 	 	 
	   By:   	
/s/ Yehoshua Lustig

	By:   	
/s/ Shmuel shneibalg

	 
	 	Yehoshua Lustig	 	Shmuel shneibalg	 

 

  

4wns_ex106.htm

Exhibit 10.6

 

 

PURCHASE AND SALE AGREEMENT

This Purchase and Sale Agreement (the “Agreement”) is made and entered into as of November __, 2011, by and between Moses Gross (“Investor”) and Yehoshua Lustig (the “Seller”).

WHEREAS, the Seller owns 3,600,000 shares (the “Shares”) of common stock of WNS Studios, Inc., a Nevada corporation (the “Company”);

WHEREAS, Seller wishes to sell to Investor, and Investor wishes to purchase from Seller, all of the Shares, for such consideration and on such terms as set out below;

NOW THEREFORE, in consideration of the above premises and the mutual representations, warranties, covenants and agreements hereinafter set forth and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties agree as follows:

1.   Purchase Price; Closing Deliveries.

(a)           The Investor hereby purchases all the Shares for an aggregate purchase price of  $3,600.00.

(b)           Simultaneous with the execution and delivery of this Agreement, (i) Investor shall pay Seller said purchase price, in cash or cashiers’ or bank check or wire transfer to an account designated by Seller and (ii) the Seller shall deliver or cause to be delivered to Investor the stock certificates evidencing the Shares, duly endorsed in blank or accompanied by stock powers duly executed in blank, in proper form for transfer and with all required stock transfer tax stamps affixed.

2.  Representations of Seller.

Seller hereby represents and warrants to Investor the following:

(a) The Shares represent 75% of the capital of the Company on a fully diluted basis. The Company has no affiliates (as such term is defined in the Securities Act of 1933, as amended) other than the Seller or David Leifer.

 

(b) Neither Seller nor any of his family members or affiliates has any interest, direct or indirect, in any shares of capital stock or other equity in the Company or has any other direct or indirect interest in any tangible or intangible property which the Company uses or has used in the business conducted by the Company, or has any direct or indirect outstanding indebtedness to or from the Company, or related, directly or indirectly, to its assets, other than the Shares.

 

(c) Seller has the absolute and unrestricted right, power, legal capacity and authority to enter into and perform his obligations under this Agreement, to carry out his obligations hereunder and to consummate the transactions contemplated hereby. This Agreement has been duly executed and delivered by the Seller. The execution, delivery and performance of this Agreement have been duly and validly approved and authorized by all necessary action on the part of the Seller.

 

(d) Assuming the due authorization, execution and delivery by Investor, this Agreement, when executed and delivered by the Seller will be, valid and binding obligations of the Seller, enforceable against him in accordance with its terms.

 

  

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(e) Neither the execution and delivery of this Agreement, nor the consummation of the transactions contemplated hereby, will conflict with, or (with or without notice or lapse of time, or both) result in a termination, breach or violation of (a) any instrument, contract or agreement to which Seller is a party or by which he or any of his assets or properties are bound, or (b) any federal, state, local or foreign law, ordinance, judgment, decree, order, statute, or regulation, or that of any other governmental body or authority, applicable to Seller or his assets or properties.

 

(f)           Seller is the sole record and beneficial owner of the Shares and has good and marketable title to the Shares, free and clear of all Encumbrances, other than the Encumbrances created by applicable federal and state securities laws. Upon payment of the purchase price and the execution and delivery of this Agreement, Investor shall be the lawful record and beneficial owner of the Shares, free and clear of all Encumbrances, other than the Encumbrance created by applicable federal and state securities laws.  "Encumbrance" shall mean any pledge, hypothecation, assignment, lien, charge, claim, security interest, security title, mortgage, security deed or deed of trust, easement or encumbrance, or preference, priority or other security agreement or preferential arrangement of any kind or nature whatsoever or any other right of any third party.

 

(g)           Other than this Agreement, there are no stockholders’ agreements, voting trust, proxies, options, rights of first refusal or any other agreements or understandings with respect to the Shares.

 

(h)           Neither Seller nor the Company is a party to or threatened with, any litigation, suit, action, investigation, proceeding or controversy before any court, administrative agency or other governmental authority.

(i)           No filing with, authorization from or consent or approval of any governmental body, agency, official or authority or any other third party is necessary or required to be made or obtained to enable Investor to enter into, and to perform his obligations under, this Agreement.

3.    Investor’s Representations.

Investor hereby represents and warrants to the Seller the following:

(a)             Investor has the absolute and unrestricted right, power, legal capacity and authority to enter into and perform its obligations under this Agreement, to carry out his obligations hereunder and to consummate the transactions contemplated hereby. This Agreement has been duly executed and delivered by Investor.

(b)           No filing with, authorization from or consent or approval of any governmental body, agency, official or authority or any other third party is necessary or required to be made or obtained to enable Investor to enter into, and to perform its obligations under, this Agreement.

 

(c)           Assuming the due authorization, execution and delivery by Seller, this Agreement, when executed and delivered by Seller will be, valid and binding obligations of Investor, enforceable against him in accordance with its terms.

 

(d)           Neither the execution and delivery of this Agreement, nor the consummation of the transactions contemplated hereby, will conflict with, or (with or without notice or lapse of time, or both) result in a termination, breach or violation of (a) any instrument, contract or agreement to which Investor is a party or by which it is bound, or (b) any federal, state, local or foreign law, ordinance, judgment, decree, order, statute, or regulation, or that of any other governmental body or authority, applicable to Investor or his assets or properties.

(e)           Investor is an accredited investor, is acquiring the Shares for his own account, for investment purposes only and not with a view to the resale or distribution of any part thereof.

4.  Indemnification.    Seller shall indemnify and hold harmless Investor and its officers, directors, employees, trustees, agents, stockholders, beneficiaries, affiliates, representatives and their successors and assigns from and against any and all damages, losses, liabilities, taxes and costs and expenses (including, without limitation, attorneys’ fees and costs) resulting from any misrepresentation, breach of warranty or non-fulfillment of any covenant or agreement of the part of Seller.

5.  Miscellaneous.

(a)           This Agreement shall be governed by and construed in accordance with the internal laws of the State of New York.

(b)           If any covenant or agreement contained herein, or any part hereof, is held to be invalid, illegal or unenforceable for any reason, such provision will be deemed modified to the extent necessary to be valid, legal and enforceable and to give effect of the intent of the parties hereto.

(c)           This Agreement constitutes the entire agreement between the parties with respect to the subject matter hereof.  This Agreement supersedes all prior agreements between the parties with respect to the subject matter hereof or thereof.  There are no representations, warranties, covenants or undertakings with respect to the subject matter hereof other than those expressly set forth herein or in the other agreements referenced herein.

(d)           This Agreement may not be amended or modified except by the express written consent of the parties hereto.  Any waiver by the parties of a breach of any provision of this Agreement shall not operate or be construed as a waiver of any subsequent breach thereof or of any other provision.

  

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(e)           This Agreement shall be binding upon, inure to the benefit of, and be enforceable by the parties hereto and their respective successors and permitted assignees and heirs and legal representatives.

(f)           The parties hereto intend that this Agreement shall not benefit or create any right or cause of action in or on behalf of any person other than the parties hereto.

(g)           The parties hereto agree to execute and deliver such further documents and instruments and to do such other acts and things any of them, as the case may be, may reasonably request in order to effectuate the transactions contemplated by this Agreement.

(h)           This Agreement may be executed in counterparts and by facsimile, each of which shall be deemed an original and all of which together shall constitute one and the same instrument.

 

(i)           This Agreement shall be construed to effectuate the mutual intent of the parties. The parties and their counsel have cooperated in the drafting and preparation of this Agreement, and this Agreement therefore shall not be construed against any party by virtue of its role as the drafter thereof. No drafts of this Agreement shall be offered by any party, nor shall any draft be admissible in any proceeding, to explain or construe this Agreement. Each party hereto acknowledges and agrees that he has received or has had the opportunity to receive independent legal counsel of his own choice and that it has been sufficiently apprised of its rights and responsibilities with regard to the substance of this Agreement. The headings contained in this Agreement are intended for convenience of reference only and are not intended to be a part of or to affect the meaning or interpretation of this Agreement. 

 

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

 

 

	 	SELLER:	 
	 	 	 
	 	/s/ Yehoshua Lustig	 
	 	Yehoshua Lustig	 
	 	 	 
	 	WNS STUDIOS, INC.	 
	 	 	 
	 	By: /s/ Yehoshua Lustig	 
	 	Name: Yehoshua Lustig	 
	 	Title: CEO	 
	 	 	 
	 	INVESTOR:	 
	 	 	 
	 	 /s/ Moses Gross	 
	 	Moses Gross	 

 

  

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