Document:

Share Subscription Agreement dated Nov 1 2003

  
 Exhibit 4.44

  
 SHARE SUBSCRIPTION
AGREEMENT 
  
 This Share Subscription Agreement
(this “Agreement”) is made effective as of, although not necessarily on, the 1st day of November,
2003 (the “Effective Date”) between Jeffrey Wiggins (the “Subscriber”), Trintech Group plc, a Company organized under the laws of Ireland (the “Company”), and Trintech, Inc., a
California corporation and a wholly-owned subsidiary of the Company (the “Subsidiary”). 
  
 RECITAL 
  
 Subscriber has agreed to subscribe for, and the Company has agreed to issue and sell to the Subscriber, Ordinary Shares in the Company, evidenced by an American Depositary Receipt (“ADR”) representing
American Depositary Shares (“ADSs”), for the consideration and upon the terms and conditions hereinafter contained. 
  
 TERMS AND PROVISIONS 
  
 In consideration of the mutual promises contained in this Agreement and other good and valuable consideration, the parties
agree as follows: 
  
 1. Share Subscription. Subject to
Section 2 of this Agreement, in consideration of the payment of $570,000 in cash pursuant to the escrow arrangement described in Section 2 below, the Subscriber irrevocably agrees to subscribe for and the Company irrevocably agrees to sell to the
Subscriber 150,000 ADSs, which shall be evidenced by an ADR (the “Trintech ADSs”). 
  
 2. Conditions to Subscription. The irrevocable obligation of the Subscriber to subscribe for the Trintech ADSs is subject to the execution and
delivery by the parties thereto of (i) the Stock Purchase Agreement dated as of November 1, 2003 among the Subsidiary, the Subscriber and DataFlow Services, Inc., (ii) this Agreement and (iii) the Escrow Agreement attached hereto as Exhibit A
(the “Escrow Agreement”), and the receipt by the Escrow Agent of the Escrowed Funds referenced in the Escrow Agreement (the “Escrowed Funds”). 
  
 3. Closing. Immediately on the satisfaction of the conditions set forth in Section 2 above, closing of the
transactions contemplated hereby (the “Closing”) shall take place at the offices of Scheef & Stone, L.L.P At the Closing (a) the Subscriber shall subscribe for the Trintech ADSs, and (b) the Escrow Agent shall release the
Escrowed Funds to the Company. At or as soon as reasonably practicable after the Closing the Company shall, or shall cause the Bank of New York to, issue the Trintech ADR evidencing the Trintech ADSs to the Subscriber. 
  
 4. Representations and Warranties of the Subscriber. The Subscriber
hereby represents and warrants to the Company that the statements contained in this Section 4 are correct and complete as of the date of execution hereof and were correct and complete as of the Effective Date. 
  
 4.1 Investment Experience. The Subscriber has
substantial knowledge and experience in financial and business matters so that he is capable of evaluating the merits 

  

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and risks of his investment in the Company and has the capacity to protect his own interests. The Subscriber has had an opportunity to discuss with
Company’s management the Company’s business and financial condition and such other matters that the Subscriber deemed relevant in connection with Subscriber’s decision to purchase the Trintech ADSs. 
  
 4.2 Acquiring for Own Account. The Subscriber is
acquiring the Trintech ADSs for investment for his own account, and not as a nominee or agent, and not with the view to, or for resale in connection with, any distribution thereof. The Subscriber understands that the Trintech ADSs have not been, nor
(other than as provided below in this Agreement) will they be, registered under the Securities Act of 1933, as amended (the “Securities Act”), by reason of a specific exemption from the registration provisions of the
Securities Act, the availability of which depends upon, among other things, the bona fide nature of the investment intent and the accuracy of the Shareholders’ representations as expressed herein. 
  
 4.3 Restricted Securities. The Subscriber
acknowledges that the Trintech ADSs constitute “restricted securities” within the meaning of the Securities Act and must be held indefinitely unless subsequently registered under the Securities Act or unless an exemption from such
registration is available. The Subscriber is aware of the provisions of Rule 144 promulgated under the Securities Act which permit limited resale of securities purchased in a private placement subject to the satisfaction of certain conditions,
including, among other things, the existence of a public market for the securities, the availability of certain current public information about the Company, the resale occurring not less than one year after a party has acquired and given full
consideration for the security to be acquired, the sale being effected through a “broker’s transaction” or in transactions directly with a “market maker” and the number of securities being sold during any three-month period
not exceeding specified limitations. 
  
 4.4
No Broker. No broker, finder or investment banker is entitled to any brokers’, finders’ or other fee or commission in connection with the transaction contemplated by this Agreement based upon arrangements made on or behalf of the
Subscriber. 
  
 4.5 Accredited Investor.
The Subscriber is an “accredited investor” within the meaning of Regulation D, Rule 501(a), promulgated by the Securities and Exchange Commission (the “SEC”) under the Securities Act. 
  
 4.6 Restrictive Legend. The ADR shall bear the
following restrictive legend: 
  
 THIS ADR, THE TRINTECH ADSs
EVIDENCED HEREBY AND THE SHARES REPRESENTED THEREBY ARE RESTRICTED SECURITIES AND HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”). NO OFFER, SALE, PLEDGE OR TRANSFER OF THIS ADR, THE TRINTECH
ADSs, OR THE SHARES MAY BE MADE EXCEPT (1)(a) IN RELIANCE ON AN EXEMPTION FROM THE 

  

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REGISTRATION REQUIREMENTS OF THE SECURITIES ACT, AND (b) UPON RECEIPT BY THE COMPANY AND THE BANK OF NEW YORK, AS DEPOSITARY, OF AN OPINION OF COUNSEL
REASONABLY ACCEPTABLE TO THE COMPANY AND THE DEPOSITARY THAT SUCH REGISTRATION IS NOT REQUIRED, OR (2) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT. 
  
 4.7 Registration Questionnaire. The Subscriber has completed or caused to be completed the
Registration Questionnaire attached hereto as Exhibit B for use in preparation of the Registration Statement and the answers to the Questionnaire are true and correct in all material respects as of the date of this Agreement and will be true
and correct as of the effective date of the Registration Statement; provided that the Subscriber shall be entitled to update such information by providing written notice thereof to the Company prior to the effective date of the Registration
Statement. 
  
 5 Representations and Warranties of the
Company. The Company hereby represents and warrants to the Subscriber that: 
  
 5.1 Capital Structure. 
  
 (i) As of the date hereof, the authorized share capital of the Company consists of 10,000,000 Series B preference shares, par value $0.0027 per share, none of which shares were issued and outstanding as of July 31,
2003, and 100,000,000 Ordinary Shares, par value $0.0027 per share, of which 30,156,809 shares were issued and outstanding as of July 31, 2003. All such issued shares of the Company have been duly authorized and validly issued, and all such issued
and outstanding shares are fully paid and non-assessable. 
  
 (ii) The Trintech ADSs to be issued to the Subscriber at or after Closing pursuant to the terms of this Agreement, will be duly authorized, validly issued, fully paid, non-assessable, and not subject to any call,
preemptive or similar rights. Upon issuance of the Trintech ADSs pursuant to this Agreement, the right, title and interest to such Trintech ADSs will be transferred to the Subscriber, free and clear of all liens, pledges, charges, claims, security
interests or other encumbrances of any sort (other than restrictions under applicable securities laws). 
  
 5.2 SEC Disclosures. The Company has provided the Subscriber true and complete copies of the Company’s annual report on Form 20-F for the
fiscal year ended January 31, 2003 and quarterly report on Form 6-K for the fiscal quarter ended July 31, 2003 (collectively, the “SEC Documents”), which the Company filed under the Securities Exchange Act of 1934, as amended (the
“Exchange Act”), with the Securities and Exchange Commission (the “SEC”). As of their respective dates, the SEC Documents complied in all material respects with the requirements of the Exchange Act, and the SEC
Documents as of their respective dates did not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements made therein, in light of the circumstances in which
they were made, not misleading. The financial statements of the Company, including the notes thereto, included in the SEC Documents comply as to form in all material respects with 

  

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applicable accounting requirements and with the published rules and regulations of the SEC with respect thereto, have been prepared in accordance with
generally accepted accounting principles in the United States consistently applied and fairly present in all material respects the consolidated financial position of the Company at the dates thereof and of its operations and cash flows for the
periods then ended. Since July 31, 2003, there have not been any changes in the assets, liabilities, financial condition, business or operations of the Company from that reflected in the SEC Documents except changes which have not been, either
individually or in the aggregate, materially adverse to the Company. Since July 31, 2003, there has not been, occurred or arisen any event or condition which has had a material adverse effect on the business, assets (including intangible assets),
financial conditions or results of operations of the Company and its subsidiaries, taken as a whole. Since July 31, 2003, the Company has filed all forms, reports and documents with the SEC required to be filed by it pursuant to the U.S. federal
securities laws and the rules and regulations of the SEC (collectively, “Securities Laws”), each of which complied as to form, at the time such form, document or report was filed, in all material respects with the applicable
requirements of all Securities Laws, except for such failures to file or to comply with Securities Laws as are not, individually or in the aggregate, materially adverse to the Company and its subsidiaries, taken as a whole. 
  
 5.3 No Broker. No broker, finder or investment banker is entitled to
any brokers’, finders’ or other fee or commission in connection with the transactions contemplated by this Agreement based upon arrangements made by or on behalf of the Company. 
  
 6. Additional Agreements of the Subscriber. Subject to applicable securities laws and the applicable terms of this
Agreement, in consideration for the Company’s agreeing to its obligations under this Agreement and as an inducement to the Company to enter into this Agreement, Subscriber agrees that, for a period beginning on the Effective Date and ending on
the date which is 180 days after the Effective Date (the “Lock-Up Period”), such Subscriber shall not offer to sell, contract to sell or otherwise sell, dispose of, loan, pledge or grant any rights with respect to (each a
“Transfer”) any of the Trintech ADSs or the Ordinary Shares of Trintech underlying the ADSs. The foregoing restriction is expressly agreed to preclude the Subscriber from engaging in any hedging or other transaction which is designed to or
reasonably expected to lead to or result in a transfer of such securities during the Lock-Up Period even if such securities would be disposed of by someone other than the Subscriber. Such prohibited hedging or other transactions would include
without limitation any short sale (whether or not against the box) or any purchase, sale or grant of any right (including without limitation any put or call option) with respect to such securities. 
  
 7. Registration Rights. 
  
 7.1 General. The Company shall: 
  
 7.1.1. subject to receipt from the Subscriber of the
Registration Statement Questionnaire, use reasonable efforts to (i) prepare and file with the SEC a resale registration statement on Form F-3 (the “Registration Statement”) to enable the resale of the Registrable Shares (defined
below) by the Subscriber on a delayed or continuous basis under Rule 415 of the Securities Act, and (ii) cause the Trintech ADSs to be listed on the Nasdaq National Market system (to the extent not already so listed), in each such case as soon as is
reasonably practicable 

  

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after the date hereof, and in no event later than the date necessary, in Trintech’s reasonable judgment, to cause the Registration Statement and the
listing on the Nasdaq National Market to be effective before the last day of the Lock-Up Period. “Registrable Shares” means each of the Trintech ADSs until the earlier of: (1) the date on which such Trintech ADSs have been resold or
otherwise transferred pursuant to the Registration Statement; (2) the date such Trintech ADSs are transferred by the Subscriber in compliance with Rule 144 under the Securities Act, (3) the date such Trintech ADSs may be sold or transferred pursuant
to Rule 144 under the Securities Act (or any other similar provisions then in force) without any volume or manner of sale restrictions thereunder and the restrictive legend on the ADR, relating to the fact that the Trintech ADSs represented by the
ADR are restricted securities, has been removed; or (4) the date on which such Trintech ADSs cease to be outstanding (whether as a result of redemption, repurchase and cancellation or otherwise). 
  
 7.1.2. use reasonable efforts to prepare and file with the
SEC such amendments and supplements to the Registration Statement and the Prospectus (as defined in Section 7.3 below) used in connection therewith and take all such other actions as may be necessary to keep the Registration Statement current and
effective for a period (the “Registration Period”) continuing until, with respect to the Registrable Shares, the earlier of (i) the date on which all Registrable Shares then held by the Subscriber may be sold or transferred in
compliance with Rule 144 under the Securities Act (or any other similar provisions then in force) without any volume or manner of sale restrictions thereunder and the restrictive legend on the ADR, relating to the fact that the Trintech ADSs
represented by the ADR are restricted securities, has been removed, and (ii) such time as all Registrable Shares held by the Subscriber have been sold (A) pursuant to a registration statement, (B) to or through a broker or dealer or underwriter in a
public distribution or a public securities transaction, or (C) in a transaction exempt from the registration and prospectus delivery requirements of the Securities Act under Section 4(1) thereof so that all transfer restrictions and restrictive
legends with respect thereto, if any, are removed upon the consummation of such sale; 
  
 7.1.3. as soon as reasonably practicable, furnish to the Subscriber with respect to the Registrable Shares registered under the
Registration Statement such reasonable number of copies of the Registration Statement and Prospectus, including any supplements to or amendments of the Prospectus or Registration Statement, in order to facilitate the public sale or other disposition
of all or any of the Registrable Shares by the Subscriber; 
  
 7.1.4. as soon as reasonably practicable, take such action as may be necessary to qualify, or obtain, an exemption for the Registrable Shares under such of the state securities laws of United States jurisdictions as
shall be necessary to qualify, or obtain an exemption for, the sale of the Registrable Shares in states as shall be reasonably specified in writing by the Subscriber; provided, however, that the Company shall not be required to qualify to do
business or consent to service of process in any jurisdiction in which it is not now so qualified or has not so consented; 
  
 7.1.5. bear all expenses in connection with the procedures in Section 7.1.1 and 7.1.2 and the registration of the Registrable Shares
pursuant to the Registration Statement including without limitation: (i) all registration and filing fees and expenses; (ii) fees and expenses of compliance with federal securities and state “blue sky” or securities laws; (iii) 

  

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expenses of printing; (iv) all application and filing fees in connection with listing the Registrable Shares on the Nasdaq National Market; and (v) all fees
and disbursements of counsel of the Company and independent certified public accountants of the Company; provided, however, that the Subscriber shall be responsible for paying the underwriting commissions or brokerage fees, and taxes of any
kind (including, without limitation, transfer taxes) applicable to any disposition, sale or transfer of the Registrable Shares. The Company shall, in any event, bear its internal expenses (including, without limitation, all salaries and expenses of
its officers and employees performing legal or accounting duties); and 
  
 7.1.6. advise the Subscriber by e-mail, fax or other type of communication, and, if requested by such person, confirm such advice in writing as soon as reasonably practicable: (i) after it shall receive notice or
obtain knowledge of the issuance of any stop order by the SEC delaying or suspending the effectiveness of the Registration Statement or of the initiation or threat of any proceeding for that purpose, or any other order issued by any state securities
commission or other regulatory authority suspending the qualification or exemption from qualification of such Registrable Shares under state securities or “blue sky” laws; and it will use its reasonable efforts to prevent the issuance of
any stop order or other order or to obtain its withdrawal as soon as reasonably practicable at the earliest possible moment if such stop order or other order should be issued; and (ii) when the Prospectus or any supplements to or amendments of the
Prospectus have been filed, and, with respect to the Registration Statement or any post-effective amendment thereto, when the same has become effective. 
  
 7.2 Transfer of Registrable Shares; Suspension. 
  
 7.2.1. The Subscriber agrees that it will not effect any disposition of the Registrable Shares or its right to purchase the Registrable
Shares that would constitute a sale within the meaning of the Securities Act, except as contemplated in the Registration Statement referred to in Section 7.1 or in accordance with the Securities Act, and that it will promptly notify the Company of
any changes in the information set forth in the Registration Statement regarding the Subscriber or its plan of distribution. 
  
 7.2.2. Except in the event that paragraph 7.2.3 below applies, the Company shall, at all times during the Registration Period, as soon as
reasonably practicable (i) prepare and file from time to time with the SEC a post-effective amendment to the Registration Statement or a supplement to the related Prospectus or a supplement or amendment to any document incorporated therein by
reference or file any other required document so that such Registration Statement will not contain an untrue statement of a material fact or omit to state a material fact necessary to make the statements therein not misleading, and so that, as
thereafter delivered to purchasers of the Registrable Securities being sold thereunder, such Prospectus will not contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the
statements therein, in light of the circumstances under which they were made, not misleading; (ii) provide the Subscriber copies of any documents filed pursuant to Section 7.2.2(i); and (iii) inform the Subscriber that the Company has complied with
its obligations in Section 7.2.2(ii) (or that, if the Company has filed a post-effective amendment to the Registration Statement which has not yet been declared effective, the Company will notify the Subscriber to that effect, will use its
reasonable efforts to secure the effectiveness of such 

  

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post-effective amendment as soon as practicable and will promptly notify the Subscriber pursuant to Section 7.2.2(iii) hereof when the amendment has become
effective). 
  
 7.2.3. In the event of (i) any
request by the SEC or any other federal or state governmental authority during the period of effectiveness of the Registration Statement for amendments or supplements to a Registration Statement or related Prospectus or for additional information;
(ii) the issuance by the SEC or any other federal or state governmental authority of any stop order suspending the effectiveness of a Registration Statement or the initiation of any proceedings for that purpose; (iii) the receipt by the Company of
any notification with respect to the suspension of the qualification or exemption from qualification of any of the Registrable Shares for sale in any jurisdiction or the initiation or threatening of any proceeding for such purpose; or (iv) any event
or circumstance which necessitates the making of any changes in the Registration Statement or Prospectus, or any document incorporated or deemed to be incorporated therein by reference, so that, in the case of the Registration Statement, it will not
contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading, and that in the case of the Prospectus, it will not contain any untrue
statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, then the Company shall deliver a notice in writing to the
Subscriber (the “Suspension Notice”) to the effect of the foregoing and, upon receipt of such Suspension Notice, the Subscriber will refrain from selling any Registrable Shares pursuant to the Registration Statement (a
“Suspension”) until the Subscriber’s receipt of copies of a supplemented or amended Prospectus prepared and filed by the Company, or until it is advised in writing by the Company that the current Prospectus may be used. In the
event of any Suspension, the Company will use its reasonable efforts, consistent with the best interests of the Company and its stockholders, to cause the use of the Prospectus so suspended to be resumed as soon as reasonably practicable after the
delivery of a Suspension Notice to the Subscriber. 
  
 7.3.
Indemnification. For the purpose of this Section 7.3, the term “Registration Statement” shall include any preliminary or final prospectus, exhibit, supplement or amendment included in or relating to the Registration
Statement referred to in Section 7.1 and the term “Rules and Regulations” means the rules and regulations promulgated under the Securities Act. 
  
 7.3.1 Indemnification by the Company. The Company agrees to indemnify and hold harmless the
Subscriber and each person, if any, who controls the Subscriber within the meaning of the Securities Act, against any losses, claims, damages, liabilities or expenses to which the Subscriber or such controlling person may become subject, under the
Securities Act, the Exchange Act, or any other federal or state statutory law or regulation insofar as such losses, claims, damages, liabilities or expenses (or actions in respect thereof as contemplated below) arise out of or are based upon (i) any
untrue statement or alleged untrue statement of any material fact contained in the Registration Statement, including the Prospectus, financial statements and schedules, and all other documents filed as a part thereof, as amended at the time of
effectiveness of the Registration Statement, including any information deemed to be a part thereof as of the time of effectiveness pursuant to paragraph (b) of Rule 430A, or pursuant to Rule 434 of the Rules and Regulations, or the Prospectus, in
the form first filed with the Commission pursuant to Rule 424(b) of the Regulations, or filed as part of the Registration Statement at the time of effectiveness if no Rule 424(b) filing is required (the “Prospectus”), or 

  

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any amendment or supplement thereto (ii) the omission or alleged omission to state in any of them a material fact required to be stated therein or necessary
to make the statements in any of them (in the case of the Prospectus only, in light of the circumstances under which they were made), not misleading, or (iii) any inaccuracy in the representations and warranties of the Company contained in this
Agreement, or any failure of the Company to perform its obligations under this Agreement, and will reimburse the Subscriber and each such controlling person for any legal and other expenses as such expenses are reasonably incurred by the Subscriber
or such controlling person in connection with investigating, defending, settling, compromising or paying any such loss, claim, damage, liability, expense or action; provided, however, that the Company will not be liable in any such case to
the extent that any such loss, claim, damage, liability or expense arises out of or is based upon (i) an untrue statement or alleged untrue statement or omission or alleged omission made in the Registration Statement, the Prospectus or any amendment
or supplement of the Registration Statement or Prospectus in reliance upon and in conformity with written information furnished to the Company by or on behalf of the Subscriber expressly for use in the Registration Statement or the Prospectus, or
(ii) the failure of the Subscriber to comply with the covenants and agreements contained in Sections 7.2 of this Agreement respecting resale of Registrable Shares, or (iii) the inaccuracy of any representations made by the Subscriber in this
Agreement or (iv) any untrue statement or omission of a material fact in any Prospectus that is corrected in any subsequent Prospectus that was delivered to the Subscriber before the pertinent sale or sales by the Subscriber. 
  
 7.3.2 Indemnification by the Subscriber. The
Subscriber will indemnify and hold harmless the Company, each of its directors, each of its officers who sign the Registration Statement and each person, if any, who controls the Company within the meaning of the Securities Act, against any losses,
claims, damages, liabilities or expenses to which the Company, each of its directors, each of its officers who sign the Registration Statement or controlling person may become subject, under the Securities Act, the Exchange Act, or any other federal
or state statutory law or regulation insofar as such losses, claims, damages, liabilities or expenses (or actions in respect thereof as contemplated below) arise out of or are based upon (i) any failure on the part of the Subscriber to comply with
the covenants and agreements contained in Section 7.2 of this Agreement respecting the sale of the Registrable Shares or (ii) the inaccuracy of any representation or warranty made by the Subscriber in this Agreement or (iii) any untrue or alleged
untrue statement of any material fact contained in the Registration Statement, the Prospectus, or any amendment or supplement to the Registration Statement or Prospectus, or the omission or alleged omission to state therein a material fact required
to be stated therein or necessary to make the statements therein (in the case of the Prospectus only, in light of the circumstances under which they were made), not misleading, in each case to the extent, but only to the extent, that such untrue
statement or alleged untrue statement or omission or alleged omission was made in the Registration Statement, the Prospectus, or any amendment or supplement thereto, in reliance upon and in conformity with written information furnished to the
Company by or on behalf of the Subscriber expressly for use therein; provided, however, that the Subscriber shall not be liable for any such untrue or alleged untrue statement or omission or alleged omission of which the Subscriber has
delivered to the Company in writing a correction at least ten business days before the occurrence of the transaction from which such loss was incurred, and the Subscriber will reimburse the Company, each of its directors, each of its officers who
signed the Registration Statement or controlling person for any legal and other expense reasonably incurred by the Company, each of its directors, each of its officers who 

  

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signed the Registration Statement or controlling person in connection with investigating, defending, settling, compromising or paying any such loss, claim,
damage, liability, expense or action for which such person is entitled to be indemnified in accordance with this Section 7.3.2. 
  
 7.3.3 Indemnification Procedure. 
  
 (i) Promptly after receipt by an indemnified party under this Section 7.3 of notice of the threat or commencement of any action, such
indemnified party will, if a claim in respect thereof is to be made against an indemnifying party under this Section 7.3, promptly notify the indemnifying party in writing of the claim; but the omission so to notify the indemnifying party will not
relieve it from any liability which it may have to any indemnified party for contribution or otherwise under the indemnity agreement contained in this Section 7.3 except to the extent it is materially prejudiced as a result of such failure.

  
 (ii) In case any such action is brought
against any indemnified party and such indemnified party seeks or intends to seek indemnity from an indemnifying party, the indemnifying party will be entitled to participate in, and, to the extent that it may wish, jointly with all other
indemnifying parties similarly notified, to assume the defense thereof; provided, however, if the defendants in any such action include both the indemnified party and the indemnifying party and the indemnified party shall have
reasonably concluded that there may be a conflict between the positions of the indemnifying party and the indemnified party in conducting the defense of any such action or that there may be legal defenses available to it or other indemnified parties
that are different from or additional to those available to the indemnifying party, the indemnified party or parties shall have the right to select separate counsel to assume such legal defenses and to otherwise participate in the defense of such
action on behalf of such indemnified party or parties. Upon receipt of notice from the indemnifying party to such indemnified party of its election so to assume the defense of such action, the indemnifying party will not be liable to such
indemnified party under this Section 7.3 for any legal or other expenses subsequently incurred by such indemnified party in connection with the defense thereof unless: 
  
 (1) the indemnified party shall have employed such counsel in connection with the assumption of legal
defenses in accordance with the proviso to the preceding sentence (it being understood, however, that the indemnifying party shall not be liable for the expenses of more than one separate counsel, approved by such indemnifying party representing all
of the indemnified parties who are parties to such action), or 
  
 (2) the indemnifying party shall not have counsel reasonably satisfactory to the indemnified party to represent the indemnified party within a reasonable time after notice of commencement of action, in each of which
cases the reasonable fees and expenses of counsel shall be at the expense of the indemnifying party. 
  
 7.3.4. Contribution. If a claim for indemnification under this Section 7.3 is unavailable to an indemnified party (by reason of
public policy or otherwise), then each indemnifying party, in lieu of indemnifying such indemnified party, shall contribute to the amount paid or payable by such indemnified party as a result of any losses, claims, damages, liabilities or expenses
referred to in this Agreement, in such proportion as is appropriate to reflect 

  

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the relative fault of the indemnifying party and indemnified party in connection with the actions, statements or omissions that resulted in such losses,
claims, damages, liabilities or expenses as well as any other relevant equitable considerations. The relative fault of such indemnifying party and indemnified party shall be determined by reference to, among other things, whether any action in
question, including any untrue or alleged untrue statement of a material fact or omission or alleged omission of a material fact, has been taken or made by, or relates to information supplied by, such indemnifying party or indemnified party, and the
parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such action, statement or omission. The amount paid or payable by a party as a result of any losses, claims, damages, liabilities or expenses shall
be deemed to include, subject to the limitations set forth in this Section 7.3, any reasonable attorneys’ or other reasonable fees or expenses incurred by such party in connection with any proceeding to the extent such party would have been
indemnified for such fees or expenses if the indemnification provided for in this Section was available to such party in accordance with its terms. 
  
 The parties hereto agree that it would not be just and equitable if contribution pursuant to this Section 7.3 were determined by pro rata allocation or by
any other method of allocation that does not take into account the equitable considerations referred to in the immediately preceding paragraph. No party to this Agreement guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of
the Securities Act) shall be entitled to contribution from any other party to this Agreement who was not guilty of such fraudulent misrepresentation. 
  
 8. Subsidiary Guaranty of Stock Price. If the closing price of ADSs issued by the Company on the Nasdaq National Market System does not equal or
exceed $5.00 for at least 10 consecutive trading days between the end of the Lock-Up Period and January 31, 2006, then on or before February 28, 2006 the Subsidiary shall pay to the Subscriber an amount equal to the product of (a) 150,000 multiplied
by (b) amount by which $5.00 exceeds the highest closing price achieved between the end of the Lock-Up Period and January 31, 2006. 
  
 If any change is made to ADSs issued by the Company by reason of any stock dividend, stock split, combination of shares or ADSs, exchange of shares or
ADSs, or other change affecting the Company’s outstanding ADSs as a class without receipt of consideration, then appropriate adjustment shall be made to (i) the price threshold pursuant to which rights are triggered under the preceding
paragraph, and (ii) the dollar amount and the multiplier specified in Clause (b) above, in order to prevent the dilution or enlargement of benefits under this Section 8. 
  
 9. Miscellaneous. 
  
 9.1 All notices and other communications required or permitted hereunder shall be in writing and shall be delivered by hand or delivered by overnight
courier, freight prepaid, or sent via facsimile (with acknowledgement of complete transmission) to the parties at the following addresses (or at such other address for a party as shall be specified by like notice): 
  

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 If to the Company or the Subsidiary, to: 
  

			
	 	  	Trintech Group plc
	 	  	South Country Business Park
	 	  	Leopardstown, Dublin 18
	 	  	Attention: Corporate Secretary
	 	  	Fax: (650) 227-7100
		
	With a copy to:	  	Trintech, Inc.
	 	  	15851 Dallas Parkway, Suite 966
	 	  	Addison, TX 75001
	 	  	Attention: General Counsel
	 	  	Fax: (603) 590-1427
		
	If to the Subscriber, to:	  	Jeffrey Wiggins
	 	  	5648 Lindsey Dr.
	 	  	Plano, TX 75093
	 	  	Fax:
                                       
 
		
	With a copy to:	  	David N. Reed, Esq.
	 	  	Meadows, Owens, Collier, Reed,
	 	  	Cousins & Blau, L.L.P.
	901 Main Street, Suite 3700
	 	  	Dallas, TX 75202
	 	  	Fax: (214) 747-3732

  
 Each such notice or other
communication shall for all purposes of this Agreement be treated as effective when received, and shall in any event be deemed to have been received when delivered, if delivered personally or sent by telecopy and confirmed in writing. 
  
 9.2 Counterparts. This Agreement may be executed in one or more
counterparts, all of which shall be considered one and the same agreement and shall become effective when one or more counterparts have been signed by each of the parties and delivered to the other party, it being understood that all parties need
not sign the same counterpart. 
  
 9.3 Entire Agreement.
This Agreement constitutes the entire agreement between the parties relating to the subject matter of this Agreement at the date hereof to the exclusion of any terms implied by law which may be excluded by contract. 
  
 9.4 Assignment. None of the parties may assign all or any of
their rights or obligations under this Agreement without the prior written consent of each of the other parties hereto. 
  
 9.5 Arbitration. Except if any dispute arises with respect to the enforceability of this Section 9, if any dispute arises with respect to this
Agreement or the transactions contemplated hereby, then any party (the “Demanding Party”) may demand, by written notice to each other party to the dispute (collectively, the “Responding Party”), that such issue
shall be settled by binding arbitration to be held in Dallas, Texas (an “Arbitration Agreement”). All claims shall be settled by arbitration in accordance with the Commercial Arbitration Rules then in effect of the American
Arbitration Association (the “Arbitration Rules”). The final decision of the 

  

 -11- 

 
arbitrator shall be furnished to Demanding Party and the Responding Party in writing and shall constitute a conclusive determination of the issue in
question, binding upon all parties, and shall not be contested by any of them. The non-prevailing party, as determined by the arbitrator, shall bear all costs and expenses associated with such arbitration, including all arbitrators’ fees and
attorneys’ fees. 
  
 9.6 Governing Law. This
Agreement and all acts and transactions pursuant hereto and the rights and obligations of the parties hereto shall be governed, construed and interpreted in accordance with the laws of the State of Texas, without giving effect to principles of
conflicts of law. 
  
 9.7 Currency. All references
in this Agreement shall be deemed as made to U.S. dollars and unless otherwise specifically indicated, are expressed in U.S. currency. 
  
 [remainder of page intentionally left blank] 
  

 -12- 

 IN WITNESS WHEREOF each party has caused this Agreement to be duly executed the day and year first
herein written. 
  

			
	Given under the common seal of:
	
	TRINTECH GROUP PLC
		
	 By
	 	 /s/ Cyril McGuire

	 Name:
	 	 CYRIL MCGUIRE

	 Title:
	 	 CEO

  

			
	TRINTECH, INC.
		
	 By
	 	 /s/ Cyril McGuire 

	 Name:
	 	 CYRIL MCGUIRE

	 Title:
	 	 CEO

  

	
	SUBSCRIBER
	
	 /s/ Jeffrey Wiggins

	

	 Jeffrey WigginsGrant to Trintech Technologies Ltd from Enterprise Ireland

  
 Exhibit 4.45

  
 Mr Noel Ryan 
 European Financial Controller 
 Trintech Technologies Limited 
 Trintech Building 
 South County Business Park 
 Leopardstown 
 Dublin 18 
  
 23rd April 2004 
  
 Project Ref: 131936/01/D2 
  

	 	Matter:	 	Funding to Trintech Technologies Limited (the “Company”) 

  
 Dear Mr Ryan 
  
 This letter of offer is in substitution for Enterprise Ireland’s letter of offer dated 28th March 2003, and your acceptance of this letter dated 30th April 2003, which letter is hereby
withdrawn and cancelled. 
  
 Thank you for the Company’s application of 30
August 2002 for funding towards the costs of undertaking a research and development programme under the Research Technology and Innovation Initiative (RTI) as described in Schedule A overleaf. 
  
 Based on the information contained in your Application, Enterprise Ireland is offering
funding towards the costs detailed in Schedule A to this letter (the “Offer”). The Offer is subject to the terms and conditions set out in this letter and those contained in Schedules A and B of this letter. 
  
 To accept the Offer, please arrange to return the enclosed Acceptance copy of this letter to
be signed by the managing director or any two directors of the Company to me within 30 days of the date of this letter. Otherwise, the offer will lapse automatically. 
  
 Enterprise Ireland has assigned me as your client service executive assigned to this project. If you need any assistance regarding
completion of the Acceptance Letter, please call me at 051-333500. 
  
 Please note
that you should return all documentation related to this Offer to me, with the exception of the actual claim, which should be sent to the Manager, Grants Administration in Wilton Park House, Wilton Place, Dublin 2. If you have any queries relating
to claims and/or the completion of same, please contact Lucy Clarke @ 808 2877 or log on to our website (enterprise-ireland.com) for further information on claims, including soft copies of claim forms. 
  

	
	 Yours sincerely

	
	 /s/ Sarah Jenkinson

	

	 Sarah Jenkinson
 Client Service Unit

  

	 	Matter:	 	Funding to Trintech Technologies Limited (the “Company”) 

	 	    	 	        Project No: 131936/01/D2 

  
 We refer to Enterprise Ireland’s offer of funding dated 23rd April 2004 under the Research Technology Innovation Initiative and acknowledge that Enterprise Ireland has relied on the truth and accuracy of the information contained in the Application for
the purpose of making the Offer. 
  
 We have read the above Offer Letter and the
Schedule to the Offer Letter and we hereby agree to accept the Offer on the terms and conditions set out in such letter and schedules. 
  
 We have noted, in particular, that claims for payment must be made in accordance with Schedule A, Clause 3 of this Offer Letter. 
  

					
	 Signed:
	 	 	 	 
			
	 /s/ Cyril McGuire
	 	 	 	 Managing Director 1,
 Trintech Technologies Limited (please print Managing Director’s/Director’s name)
 Director, Trintech Technologies Limited (Please print Director’s name)

	
	 	 	 
	 	 	 	 
	
	 	 	 
	 	 	 	 
	
	 	 	 
	 	 	 	 
	
	 	 	 	 

  
 Dated 26th day of April 2004

  
 We, in our capacity as controlling shareholders of the Company, have read the
Agreement and agree to be bound by the provisions of Clause 6.2 of Schedule B and to procure, insofar as it is within our power to do so, that the Company will comply with the Agreement. 
  

					
	 Signed:
	 	 	 	 
			
	 /s/ Cyril McGuire
	 	 	 	 Director, Trintech Group Plc
 (Please print name of underwriting/parent company and Director’s name)

	
	 	 	 
	 	 	 	 
	
	 	 	 	 

  
 Dated 26th day of April 2004

	1	 	Please strike out the word ‘Managing’ if the offer is not being accepted by the managing director. 

  

 2 

 Schedule A to the Offer Letter 
  
 RTI Revenue Grant 
  

							
	Company Name	  	Trintech Technologies Limited
				
	Establishment No	  	7994	  	Project No.	  	131936/01/D2
				
	Project Offer Date (i.e., date of Offer Letter)	  	28 March 2003	  	Source of funding:	  	EU

  

			
	Project Start Date being the first date on which grant-eligible expenditures may be incurred:	  	30 August 2002
		
	Project Duration being the period within which expenditures are eligible for grant assistance:	  	Two years from Project Offer Date

  

			
	Enabling Legislation	  	Section 7(i) Industrial Development Act 1998

  

			
	 Controlling Shareholders

	  	 Addresses

	Trintech Group Plc	  	Trintech Building, South Country Business Park, Leopardstown. Dublin 18

  

			
	Description Of Project	  	Development of an Open Pay Product for Smart Card and PIN Capability.

  
 Grant Offered

  

				
	 Eligible Expenditure

	  	€

	 
	 Materials and prototypes
	  	351,800	 
	 Salaries and wages to persons engaged on the project
	  	629,120	 
	 Overheads
	  	30,640	 
	 Travel and subsistence
	  	188,740	 
	 Fees to technical advisers engaged in connection with the project
	  	513,000	 
	 Total estimated costs of eligible expenditure
	  	1,713,300	 
	 	  	
	

	 Grant as a % of actual cost of eligible expenditure
	  	20.43	%
	 	  	
	

	 Maximum Grant amount
	  	350,027	 
	 	  	
	

  
 Conditions
Specifically Related To RTI Revenue Grant 
  

	1.	 	The Company covenants and undertakes to Enterprise Ireland for the Term of the Agreement: 

  

	 	1.1.	 	to carry out the Project wholly or mainly within the State; 

  

	 	1.2.	 	to ensure that any new product developed as a result of the Project will, if commercially viable, be manufactured within the State within two years of the completion of the study;

  

	 	1.3.	 	to ensure that any new process or method developed as a result of the Project will, if commercially viable, be used commercially by the Company within the State within two years of
the completion of the study; 

  

	 	1.4.	 	to keep records of the progress of the Project through its various stages as a basis for the preparation of a progress report to accompany each claim and to furnish all information
and reports that Enterprise Ireland may require from time to time including the standard Project Progress Report concerning the Project and information about the costs of the Project and the results thereof; 

  

 3 

	 	1.5.	 	if any patent or other Intellectual Property right is established as a result of the work carried out as part of the Project, to register such right as the sole property of the
Company and Trintech Limited not to create or allow to subsist any Encumbrance over any of its assets, including any Intellectual Property owned or used by it without the prior written consent of Enterprise Ireland; 

  

	 	1.6.	 	the Company committing to its Research & Development spend in Ireland being no less than an aggregate of €6,000,000 for the fiscal years ending 31 January 2004 and 31
January 2005, and, additionally, not to transfer Research & Development activities to Montevideo (Uruguay), for the term of the RTI agreement. In the event of the Research & Development spend in Ireland not being fully maintained at this
level, over the stated period, the Company shall repay the Grant in full to Enterprise Ireland; 

  

	 	1.7.	 	to ensure that any person, who has already been paid or may be paid an employment grant under the Employment Grant Agreement dated 17 April 2000, will not be the subject of any
grant assistance under this Agreement. 

  

	2.	 	Eligible salary costs in respect of the Company’s Managing Director or Chief Executive is restricted as follows: 

  

	 	i.	 	Max 30% of actual salary allowed for grant aid purposes in the case where the Company employs 50 people or less at the Project Start Date; 

  

	 	ii.	 	0% of actual salary allowed for grant aid purposes in the case where the Company employs in excess of 50 people at the Project Start Date. 

  

	3.	 	Claims for payment of the Grants must be submitted to Enterprise Ireland in accordance with the following schedule: 

  
 A minimum claim of 20% within six months of the Project Offer Date;

  
 A final claim to be submitted within 3 months of the end of
the Project Duration. 
  
 Interim claims may be submitted during
the Project Duration. 
  
 In the event of the Company failing to
submit any claims in accordance with the above schedule, the Company may at Enterprise Ireland’s discretion, forfeit its entitlement to make any further claim or claims. See also Schedule B, Clause 3. 
  

	4.	 	The Company entering into a supplemental agreement relating to the cancellation by Enterprise Ireland of €381,000 (representing 40 jobs @ €9,525 per job), this amount
being part of the Employment Grant Agreement dated 17 April 2000, which offered an amount of €1,190,379 for the creation of 125 jobs over a base level of 125 jobs. 

  

 4 

	5.	 	Grant balances available on foot of grants offered and/or approved in favour of the Company (as detailed below) are hereby cancelled and withdrawn:- 

  

												
	 Date Approved

	  	Grant Type

	  	Amount Approved

	  	Amount Paid

	  	Balance Cancelled

	 06/1987
	  	Enterprise Development	  	€	415,204	  	€	320,437	  	€	94,767
	 11/1990
	  	do.	  	€	634,869	  	€	634,565	  	€	304
	 04/1992
	  	do.	  	€	99,040	  	€	98,812	  	€	228
	 07/1996
	  	Measure 6	  	€	575,039	  	€	565,447	  	€	9,592
	 07/1996
	  	Measure 1	  	€	8,888	  	€	2,994	  	€	5,894
	 04/1996
	  	Techstart	  	€	8,888	  	€	8,153	  	€	735

  

	6.	 	The Company undertaking to repay the following amounts to Enterprise Ireland due under the Target Marketing Consultancy Programme by Trintech Technologies Limited and Exceptis
Technologies Limited on the submission of the signed acceptance of this Agreement:- 

  

					
	Project No. 30682	  	Trintech Technologies Limited	  	€254,620.57
			
	Project No. 31501	  	Exceptis Technologies Limited	  	€112,266.42

  

	7.	 	That the shareholding of the Company and Trintech Limited will not change for the Term of the Agreement without Enterprise Ireland’s written consent. 

 

	8.	 	The Company and Trintech Limited have entered into an irrevocable licensing agreement for the Term of the Agreement. 

  

 5 

 Schedule B To the Offer Letter 
  
 General Terms and Conditions 
  

Definitions 
  

			
		
	“Acceptance Letter”	  	means the letter from the Company to Enterprise Ireland accepting the Offer in the Offer Letter.
		
	“Agreement “	  	means the Application, the Offer Letter, the schedules to the Offer Letter and the Letter of Acceptance.
		
	“Application”	  	means the completed Research Technology and Innovation (RTI) Competitive Grants Scheme Company Application Form and all written documentation furnished by or on behalf of the Company to EI prior
to the date of this letter in support of the application.
		
	“Company”	  	means the Company that has been offered the funding in the Offer Letter.
		
	“Controlling Interest”	  	means ownership of more than 50% of the issued ordinary share capital of the Company and/or ownership of shares in the capital of the Company conferring in aggregate more than 50% of the total
voting rights conferred by all the shares in the share capital of the Company from time to time and/or having the right to appoint the majority of the directors to the Board of the Company.
		
	“Controlling Shareholder”	  	means those shareholders in the Company whose names are set out in Schedules with the letter “A” and a numeral.
		
	“Encumbrance”	  	any mortgage, charge, pledge, lien, option, restriction, right of first refusal, right of pre-emption, third party right or interest, any other encumbrance or security interest of any kind and
any other type of preferential arrangement (including, without limitation, title, transfer and retention arrangements) having similar effect.
		
	“Grant”	  	means the amount contributed or to be contributed by Enterprise Ireland towards the cost of a project referred to in Schedule A of the Offer Letter.
		
	“Intellectual Property”	  	any and all rights pertaining to inventions, discoveries, concepts, ideas and improvements to existing technology whether or not written down or otherwise converted to tangible form, patents,
designs, trade marks, trade names, logos, rights in any domain names, database rights, goodwill, copyright(s), knowhow, reputation, modes, get-up, computer programs and analogous property, plans, models, literary, dramatic, musical and artistic
works and all other forms of industrial or intellectual property (in each case in any part of the world and whether or not registered or registrable and to the fullest extent thereof and for the full period thereof and all extensions and renewals
thereof) and all applications for registration thereof and all rights and interest, present and future, thereto and therein.
		
	“Offer Letter”	  	means the letter of offer from Enterprise Ireland to the Company offering the Grants for the Projects.
		
	“Projects”	  	means the projects described in Schedule A to the Offer Letter.
		
	“Project Duration”	  	has the meaning ascribed to it in Schedule A to the Offer Letter.
		
	“Project Start Date”	  	means the date on which grant eligible expenditures may be incurred or new grant-aided employees may be recruited.
		
	“State”	  	means the island of Ireland, excluding Northern Ireland.

  

 6 

			
		
	“Term”	  	has the same meaning ascribed to it is Clause 4 of this Schedule B.
		
	Interpretation:	  	Words in the singular include the plural and vice versa.

  

	1.	 	Purpose of Grants 

  

	 	1.1	 	The Grants are provided to enable the implementation by the Company of the Projects described in Schedule A. 

  

	2	 	On-Going Requirements 

  
 The Company covenants and undertakes to Enterprise Ireland for the Term of this Agreement as follows: 
  

	 	2.1	 	to develop and implement the Projects in line with the written proposals set out in the application; 

  

	 	2.2	 	to provide the raw materials, personnel, business and technical knowledge, finance and facilities required for the successful implementation of the Projects;

  

	 	2.3	 	not to use the Grants for any purpose other than the purpose stated under the heading “Purpose Of Grants”, including funding of any distribution to shareholders by way of
dividend or otherwise; 

  

	 	2.4	 	to procure that the Controlling Interest in the Company will not change without Enterprise Ireland’s prior written consent, which shall not be unreasonably withheld;

  

	 	2.5	 	to comply with relevant legislation and obtain with any relevant permits, approvals permissions or consents necessary for the operation of its business including without prejudice
to the generality of the foregoing all permits, approvals, permissions, or consents relating to planning, building, environment, employment, taxation, health and safety and the Companies Acts 1963-2001 (as may be amended from time to time);

  

	 	2.6	 	not to dispose of or part with possession of any prototype produced as part of the Project unless under a non-disclosure agreement, without the written agreement of Enterprise
Ireland; 

  

	 	2.7	 	to permit the personnel of Enterprise Ireland, Irish Government and EU Auditors, and/or consultants engaged by same, to have access to the premises, personnel and records of the
Company during the normal business hours of the Company; 

  

	 	2.8	 	to comply with such procedures for claiming payment of the Grants as Enterprise Ireland may operate for time to time; 

  

	 	2.9	 	to immediately inform Enterprise Ireland of any changes proposed in the event of the Project differing from that specified in the Offer Letter; 

  

	 	2.10	 	to furnish Enterprise Ireland with a tax clearance certificate and statutory audited accounts for each year until the Grants have been fully paid to the Company;

  

	 	2.11	 	to keep all its key insurable assets insured to their full cost of re-instatement against loss or damage by fire and explosion or any other cause and to obtain, in accordance with
good business practice, consequential loss or business interruption insurance. 

  

	 	2.12	 	to furnish Enterprise Ireland with information on its sales, exports, employment and added value for the purpose of surveys which Enterprise Ireland may conduct or participate in
from time to time; 

  

 7 

	 	2.13	 	to keep and make available for inspection on behalf of Enterprise Ireland detailed records of time spent on the research and development Projects by the Company’s employees in
respect of whose remuneration Grants are payable, whether the employees are involved on the Projects on a full-time, part-time or occasional basis; 

  

	 	2.14	 	to maintain detailed records of grant-aided wage and salary costs incurred in executing the grant-aided research and development Projects and facilitate verification of salary rates
paid by means of documentation, including documentation returned to the Revenue Commissioners; 

  

	 	2.15	 	to maintain detailed records of the grant-aided cost of all materials and services, including consultancy, materials, construction, transportation and accommodation costs, incurred
in executing the Projects; 

  

	 	2.16	 	where reasonable to obtain three competitive quotations or tenders for all grant-aided construction work and capital equipment and to accept only the lowest tender, save with the
prior written consent of Enterprise Ireland and to furnish to Enterprise Ireland on request, details of such quotations or tenders; 

  

	 	2.17	 	to ensure that documentation of all of the detailed records of cost incurred on the Projects are approved in writing on behalf of the Company by a designated project manager and to
hold same for the purpose of providing a satisfactory audit trail; in doing so, to indicate that the said costs have been wholly and necessarily incurred for the purpose of the Projects; 

  

	 	2.18	 	to acknowledge that the Project has been co-financed by EU Structural Funds by displaying EU posters and/or stickers within the Company’s premises and informing Company staff
that the Project has been co-financed by the EU; 

  

	 	2.19	 	to display a commemorative plaque within the Company’s premises if the Total Maximum Grant offered is greater than €635,000; 

  

	 	2.20	 	to co-operate with Enterprise Ireland in aspects of public relations activity concerning the Projects and the European Commission; 

  

	 	2.21	 	to hold documentation of all of the detailed records of cost incurred on the Projects for a period of 5 years after the close of the Operational Programme 2000-2006 (ie 31 December,
2011) in accordance with Chapter II of Council Regulation (EU) No 1260/99 of 21st June 2000, as amended;

  

	 	2.22	 	to commence the Project within three months of the Project Offer Date; 

  

	 	2.23	 	to comply with all terms and conditions imposed on it by the Agreement; and 

  

	 	2.24	 	not to give guarantees for purposes other than the Company’s business. 

  

	3	 	Claims Procedure 

  

	 	3.1	 	The Grants will be payable to the Company when Enterprise Ireland has established to its reasonable satisfaction that: 

  

	 	3.1.1	 	the conditions of the Offer Letter have been complied with; 

  

	 	3.1.2	 	expenditures incurred by the Company in respect of Projects have been vouched and examined in such a manner as Enterprise Ireland may require and shown to the satisfaction of
Enterprise Ireland to have been reasonable and necessary for the purpose of the Project; 

  

 8 

	 	3.2	 	A claim must be made in writing and certified by the Company’s auditors in a manner satisfactory to Enterprise Ireland. 

  

	 	3.3	 	All grants involving expenditure in excess of €127,000 are subject to an administration fee of €1,270. A cheque for this fee, made payable to Enterprise Ireland’s
Grant Administration Department, Wilton Park House, Wilton Place, Dublin 2 must be enclosed with the Company’s first claim. 

  

	 	3.4	 	If Enterprise Ireland is not satisfied with the annual audited accounts or management accounts of the Company, Enterprise Ireland shall not be obligated to make a payment on foot of
any claim. 

  

	 	3.5	 	Enterprise Ireland shall not be obliged to entertain a claim by the Company for payment of a Grant if the Company is in breach of any provision of the Agreement.

  

	4	 	Termination 

  
 This Agreement shall terminate five years from the date of the last payment from the Grants. 
  

	5	 	Definitions 

  
 Any defined terms in this Schedule B shall have the same meaning where used in the Offer Letter or in Schedule A unless the context requires otherwise.

  

	6	 	Cessation, Repayment and Reduction of the Grants 

  

	 	6.1	 	Enterprise Ireland may immediately cease making any payments of the Grants and/or seek repayment of the Grants already paid to the Company or deemed to have been made and/or reduce
the amount of the Grants to be paid if any one or more of the following events occur: 

  

	 	6.1.1	 	the Company is in breach of any terms or conditions set out in the Offer Letter and/or the Schedules to the Offer Letter and such breach (if capable of remedy) is not remedied
within 21 days of the occurrence of such breach; 

  

	 	6.1.2	 	a receiver or manger is, or has been appointed over the business or any part of the business, assets or undertaking of the Company; 

  

	 	6.1.3	 	any notice is served on the Company that a court order has been made to wind-up the Company or if any petition is presented or a resolution is proposed or passed to wind-up the
Company or any of its subsidiaries; 

  

	 	6.1.4	 	the Company is unable to pay its debts as and when they fall due within the meaning of Section 214 of the Companies Act, 1963; 

  

	 	6.1.5	 	a distress or execution is levied or issued against any of the property of the Company or any of its subsidiaries; 

  

	 	6.1.6	 	the Company ceases to carry on the Project; 

  

	 	6.1.7	 	any warranty or representation by the Company which is contained in the Schedules to the Offer Letter is untrue or inaccurate; 

  

	 	6.1.8	 	the Company is unable to obtain any relevant permits, approvals, permissions or consents necessary for the operation of its business including without prejudice to the generality of
the foregoing all permits, approvals, permissions, or consents relating to planning, building, environment, health and safety and the Companies Acts 1963-2001 (as may be amended from time to time); and 

  

 9 

	 	6.1.9	 	the persons referred to in Schedule A1 no longer have a Controlling Interest in the Company unless otherwise agreed in writing by Enterprise Ireland. 

  

	 	6.2	 	In the event of a Controlling Shareholder or Controlling Shareholders having underwritten the Agreement, each such Controlling Shareholder or Controlling Shareholders and the
Company shall agree, on a joint and several basis, to repay on demand by Enterprise Ireland, any sums that shall fall due for repayment in accordance with Clause 6.1 above. 

  

	 	6.3	 	The Company covenants and undertakes to immediately notify Enterprise Ireland in writing of the occurrence of any of the events referred to above. 

  

	 	6.4	 	If Enterprise Ireland seek repayment of any Grants as a result of the occurrence of any of the events referred to above, the Company covenants and undertakes to make such repayments
immediately on receipt of a written demand from Enterprise Ireland. 

  

	 	6.5	 	Any cessation of the Grant payments and/or reduction in the amount of Grants shall be notified in writing to the Company by Enterprise Ireland. 

  

	7	 	Warranties 

  
 The Company warrants, represents and undertakes to Enterprise Ireland that for the Term of this Agreement: 
  

	 	7.1	 	the facts referred to in the application are true and correct in every particular; 

  

	 	7.2	 	the Company has the necessary financial resources, personnel, business and technical knowledge and other relevant resources to carry out the Project; 

  

	 	7.3	 	the Company shall not seek payment of Grants from Enterprise Ireland in respect of any expenditure incurred by the Company prior to the Project Start Date; 

 

	 	7.4	 	employees, in respect of whom the Company is in receipt of grant assistance under any of the Enterprise Ireland schemes (Employment; Training; Feasibility and Employment of Key
Personnel grants) will not be eligible for assistance from the Grant herein if the Company is, in respect of such employees and during the same time period, in receipt of grant assistance from Enterprise Ireland under any one of the above referred
to grant schemes; 

  

	 	7.5	 	the Company has the necessary legal powers to carry out the trading activities referred to in the application; 

  

	 	7.6	 	funding has not been and will not be sought for the Project from the State or any government agency for the purpose of funding the Project; 

  

	 	7.7	 	the Company’s main activity is: 

  

	 	7.7.1	 	the production of products for export or products of an advanced technological nature for supply to internationally trading or skilled sub-supply firms within the State or products
for sectors of the Irish market that are subject to international competition, such production comprising part of the Project; or 

  

	 	7.7.2	 	an activity covered by the Industrial Development (Service Industries) Order, 1998; 

  

	 	7.8	 	carrying out of the Projects will not impact or effect the intellectual property rights owned by any third party. 

  

 10 

	8	 	General Provisions 

  

	 	8.1	 	This Agreement shall be binding upon and enure for the benefit of Enterprise Ireland and its successors and assigns. 

  

	 	8.2	 	Enterprise Ireland acknowledges its statutory obligation of confidentiality to the Company in respect of all information received in regard to the Projects and undertakes not to
disclose such information except as required by law. 

  

	 	8.3	 	This Grant is subject to both the receipt of funding by Enterprise Ireland from the European Union Structural Funds and the availability of such funding for distribution to
industry. In the event of such funding not being received/available for distribution, or being discontinued for any reason the State, the Minister, the Commission of the European Union and Enterprise Ireland shall not be under any liability to
provide funding for or to compensate the Company. 

  

	 	8.4	 	Except with the prior written consent of Enterprise Ireland, the Company shall not be entitled to assign any part or the entire of the Agreement and the rights of the Company
pursuant to this Agreement shall be personal to the Company. 

  

	 	8.5	 	Nothing in this Agreement shall constitute or be deemed to constitute a partnership between the parties to the Agreement or constitute or be deemed to constitute any party to this
Agreement as agent of any other party to this Agreement for any purpose whatsoever and no such party shall by reason of this Agreement have authority or power to bind any other such party or to contract in the name of and create a liability against
any other such party in any way or for any purpose. 

  

	 	8.6	 	Any notice or other communication required or permitted to be given or made under this Agreement shall be addressed to the Secretary of the Company at its registered office and to
Enterprise Ireland addressed to the Secretary, Enterprise Ireland, Glasnevin Hill, Dublin 9 or such other address as may be notified from time to time. Any notice or other communication required or permitted to be made pursuant to this Agreement
shall be validly given or made if delivered personally or if despatched by registered post and shall be deemed to be given or made: 

  

	 	8.6.1	 	if delivered by hand - at the time of delivery; 

  

	 	8.6.2	 	if sent by post – forty eight hours after same shall have been posted. 

  

	 	8.7	 	A waiver by Enterprise Ireland of any breach of any terms or conditions of this Agreement or the acquiescence by Enterprise Ireland but for such acquiescence shall not constitute a
general waiver of such terms and conditions. 

  

	 	8.8	 	If there is any conflict between (i) the provisions of this Schedule B and (ii) Schedule A of the Offer letter, the provisions of Schedule A shall prevail. 

 

	 	8.9	 	This agreement shall be governed by the laws of Ireland. 

  

 11

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