Document:

ex10-21.htm

Exhibit 10.21

ASSET PURCHASE AGREEMENT

THIS AGREEMENT is made as of this 31st day of December, 2012 (the “Effective Date”), by and between VERIFYME, INC., a Texas corporation (“SELLER”), and LASERLOCK TECHNOLOGIES, INC., a Nevada corporation (“PURCHASER”) (collectively the “Parties”).

 

W I T N E S S E T H:

WHEREAS, SELLER is in the business of developing and selling local, mobile and cloud-based biometric security systems and methods of providing same and currently owns certain intellectual property assets including software, trademarks and goodwill associated therewith and domain names relating thereto and identified more fully in the attached Schedule A (collectively, the “Assets”);

WHEREAS, PURCHASER desires to purchase from SELLER, and SELLER wishes to sell to PURCHASER, the Assets; and

WHEREAS, SELLER and PURCHASER have agreed to enter into a Patent and Technology License Agreement in the form set forth as Schedule B to this Agreement (the “Patent and Technology License Agreement”) pursuant to which SELLER will license to PURCHASER certain technology and U.S. patents relating to local, mobile and cloud-based biometric security systems and methods of providing same.

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

1.           PURCHASE OF THE ASSETS

A.  Upon the terms and subject to the conditions of this Agreement, at Closing (as defined herein), SELLER shall sell, transfer and assign to PURCHASER, and PURCHASER shall purchase and acquire from SELLER, all right, title and interest owned by SELLER, throughout the world in and to all of the Assets.  The Assets comprise the following properties:

1.  The Trademark Rights identified more fully in the attached Schedule A.

2.  The Software identified more fully in the attached Schedule A.

3.  The Domain Name identified more fully in the attached Schedule A.

2.  TERM

A.  This Agreement shall be effective as of the Effective Date and shall extend until Closing and transfer of the Assets to PURCHASER (the “Term”).  For the avoidance of doubt, the sale, transfer and assignment of the Assets from SELLER to PURCHSASER is permanent.

 

  

  

  

 

3. PURCHASE PRICE AND CLOSING

A.  Purchase Price.  Subject to the other provisions of this Agreement, at the Closing, PURCHASER shall pay to SELLER, for the transfer of the Assets, One Hundred Thousand Dollars ($100,000) (the “Purchase Price”), to be paid by issuing (i) a number of shares of Common Stock, par value $.001 per shares (“Shares”), of LaserLock Technologies, Inc., equal to (x) $100,000 divided by (y) $0.045 and (ii) cashless exercise warrants to purchase an equal number of Shares exercisable at a price of Ten Cents ($0.10) per Share with a term of five (5) years.

B.  Time and Place of the Closing.  The closing of the transactions contemplated by this Agreement (the “Closing”) shall take place at such location as the Parties may designate in writing.

C.  Deliveries by SELLER at the Closing.  At the Closing, SELLER shall deliver to PURCHASER the following:

1.  The Patent and Technology License Agreement, duly executed by SELLER.

2.  Assignment of the Trademark Rights, substantially in the form attached as Schedule C, in recordable form and duly executed by SELLER;

3.  Assignment of the Software, substantially in the form attached as Schedule D and duly executed by SELLER;

4.  Assignment of the Domain Name, substantially in the form attached as Schedule E and duly executed by SELLER;

5.  Such other documents and instruments as PURCHASER may reasonably request and SELLER can reasonably and lawfully provide as shall be necessary in connection with transactions contemplated hereby.

D.  Deliveries by PURCHASER at the Closing.  At the Closing, PURCHASER shall deliver to SELLER the following:

1.  The Purchase Price.

2.  The Patent and Technology License Agreement, duly executed by PURCHASER.

3.  Such other documents and instruments as SELLER may reasonably request and PURCHASER can reasonably and lawfully provide as shall be necessary in connection with transactions contemplated hereby.

4. REPRESENTATIONS AND WARRANTIES

A.  SELLER represents and warrants that, to the best of its knowledge and belief, it is the owner of the entire right, title, and interest in and to the Assets; that it has the right and power to sell, transfer and assign the Assets to PURCHASER; and that there are no other agreements with any other party in conflict with such sale, transfer and assignment of the Assets to PURCHASER.

 

  

	

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B.  PURCHASER acknowledges and agrees that the Assets are sold “AS IS”.

C.  SELLER EXPRESSLY DISCLAIMS ANY AND ALL WARRANTIES CONCERNING THE ASSETS, INCLUDING THE SOFTWARE AND DOCUMENTATION, INCLUDING ANY WARRANTIES OF MERCHANTABILITY AND/OR FITNESS FOR ANY PARTICULAR PURPOSE, AND WARRANTIES OF PERFORMANCE, AND ANY WARRANTY THAT MIGHT OTHERWISE ARISE FROM COURSE OF DEALING OR USAGE OF TRADE. NO WARRANTY IS EITHER EXPRESS OR IMPLIED WITH RESPECT TO THE USE OF THE ASSETS, INCLUDING THE SOFTWARE AND DOCUMENTATION. Under no circumstances shall SELLER be liable for incidental, special, indirect, direct or consequential damages or loss of profits, interruption of business, or related expenses which may arise from use of Assets, including the Software or documentation, including but not limited to those resulting from defects in software and/or documentation, or loss or inaccuracy of data of any kind.

D.  PURCHASER ACKNOWLEDGES AND AGREES THAT THE CONSIDERATION WHICH SELLER IS CHARGING HEREUNDER DOES NOT INCLUDE ANY CONSIDERATION FOR ASSUMPTION BY SELLER OF THE RISK OF PURCHASER’S CONSEQUENTIAL OR INCIDENTAL DAMAGES WHICH MAY ARISE IN CONNECTION WITH PURCHASER’S USE OF THE ASSETS, INCLUDING THE SOFTWARE, DERIVATIVE PRODUCTS AND DOCUMENTATION. ACCORDINGLY, PURCHASER AGREES THAT SELLER SHALL NOT BE RESPONSIBLE TO PURCHASER FOR ANY LOSS-OF-PROFIT, INDIRECT, INCIDENTAL, SPECIAL, OR CONSE-QUENTIAL DAMAGES ARISING OUT OF THE SALE, LICENSING OR USE OF THE ASSETS, INCLUDING THE SOFTWARE, DERIVATIVE PRODUCTS OR DOCUMENTATION. Any provision herein to the contrary notwithstanding, the maximum liability of SELLER to any person, firm or corporation whatsoever arising out of or in the connection with any sale, license, use or other employment of any Assets, including Software delivered to PURCHASER hereunder, whether such liability arises from any claim based on breach or repudiation of contract, warranty, tort or otherwise, shall in no case exceed the lesser of the Purchase Price or the actual price paid to SELLER by PURCHASER for the Assets, including the Software, whose license, use, or other employment gives rise to the liability. The essential purpose of this provision is to limit the potential liability of SELLER arising out of this Agreement. The parties acknowledge that the limitations set forth in this Section are integral to the amount of consideration levied in connection with the sale of the Assets, including the Software and any services rendered hereunder and that, were SELLER to assume any further liability other than as set forth herein, such consideration would of necessity be set substantially higher.

5.  TERMINATION

A.  Termination.  Either party may terminate this Agreement prior to Closing upon written notice to the other party.

 

  

	

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B.  Effect of Termination.  In the event of termination of this Agreement pursuant to Section 5.A., all obligations under this Agreement (other than those provisions set forth in Section 6) shall terminate and shall be of no further force or effect.

6.  CONFIDENTIALITY

A.  “Confidential Information” shall mean any confidential technical data, trade secret, know-how or other confidential information disclosed by any party hereunder in writing, orally, or by drawing or other form and which shall be marked by the disclosing party as “Confidential” or “Proprietary.” If such information is disclosed orally, or through demonstration, in order to be deemed Confidential Information, it must be specifically designated as being of a confidential nature at the time of disclosure and reduced in writing and delivered to the receiving party within thirty (30) days of such disclosure.

B.  Notwithstanding the foregoing, Confidential Information shall not include information which: (i) is known to the receiving party at the time of disclosure or becomes known to the receiving party without breach of this Agreement; (ii) is or becomes publicly known through no wrongful act of the receiving party or any subsidiary of the receiving party; (iii) is rightfully received from a third party without restriction on disclosure; (iv) is independently developed by the receiving party or any of its subsidiary; (v) is furnished to any third party by the disclosing party without restriction on its disclosure; (vi) is approved for release upon a prior written consent of the disclosing party; (vii) is disclosed pursuant to judicial order, requirement of a governmental agency or by operation of law.

C.  The receiving party agrees that it will not disclose any Confidential Information to any third party and will not use Confidential Information of the disclosing party for any purpose other than for the performance of the rights and obligations hereunder during the term of this Agreement and for a period of five (5) years thereafter, without the prior written consent of the disclosing party. The receiving party further agrees that Confidential Information shall remain the sole property of the disclosing party and that it will take all reasonable precautions to prevent any unauthorized disclosure of Confidential Information by its employees. No license shall be granted by the disclosing party to the receiving party with respect to Confidential Information disclosed hereunder unless otherwise expressly provided herein.

D.  Upon the request of the disclosing party, the receiving party will promptly return all Confidential Information furnished hereunder and all copies thereof.

E.  The Parties agree that all publicity and public announcements concerning the formation and existence of this Agreement shall be jointly planned and coordinated by and among the Parties. Neither party shall disclose any of the specific terms of this Agreement to any third party without the prior written consent of the other party, which consent shall not be withheld unreasonably. Notwithstanding the foregoing, any party may disclose information concerning this Agreement as required by the rules, orders, regulations, subpoenas or directives of a court, government or governmental agency, after giving prior notice to the other party.

 

  

	

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F.  If a party breaches any of its obligations with respect to confidentiality and unauthorized use of Confidential Information hereunder, the non-breaching party shall be entitled to equitable relief to protect its interest therein, including but not limited to injunctive relief, as well as money damages notwithstanding anything to the contrary contained herein.

G.  Except as otherwise set forth in this Agreement, neither party will make any public statement, press release or other announcement relating to the terms of or existence of this Agreement without the prior written approval of the other.

7.  INDEMNITY

A.  PURCHASER agrees to defend, indemnify and hold SELLER and its officers, directors, agents, and employees, harmless against all costs, expenses, and losses (including reasonable attorney fees and costs) incurred through claims of third parties against SELLER based on the manufacture, sale, use or license by PURCHASER of products and services embodying the Assets, including the Software, including, but not limited to, actions founded on product liability.

B.  SELLER agrees to defend, indemnify and hold PURCHASER and its officers, directors, agents, sublicensees, employees, and customers, harmless against all costs, expenses, and losses (including reasonable attorney fees and costs) incurred through claims of third parties against PURCHASER based on a breach by SELLER of any representation and warranty made in this Agreement, including but not limited to claims by a third party of infringement based on the manufacture, use, or sale of products and services embodying or employing the Assets, including the Software, or actions founded on product liability based on the sale of products and services embodying the Assets, including the Software, provided, however, any provision herein to the contrary notwithstanding, the maximum liability of SELLER to any person, firm or corporation whatsoever arising out of or in the connection with any sale, license, use or other employment of any Assets, including Software delivered to PURCHASER hereunder, whether such liability arises from any claim based on breach or repudiation of contract, warranty, tort or otherwise, shall in no case exceed the actual price paid to SELLER by PURCHASER for the Assets, including the Software, whose sale, license, use, or other employment gives rise to the liability. The essential purpose of this provision is to limit the potential liability of SELLER arising out of this Agreement. The parties acknowledge that the limitations set forth in this Section are integral to the amount of consideration levied in connection with the sale of the Assets, including the Software and any services rendered hereunder and that, were SELLER to assume any further liability other than as set forth herein, such consideration would of necessity be set substantially higher.

8.  NOTICE AND PAYMENT

A.  Any notice required to be given under this Agreement shall be in writing and delivered personally to the other designated party at the above-stated address or mailed by certified, registered or Express mail, return receipt requested or by Federal Express.

B. Either party may change the address to which notice or payment is to be sent by written notice to the other under any provision of this paragraph.

 

  

	

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9.  JURISDICTION/DISPUTES

This Agreement shall be governed in accordance with the laws of the State of Texas.  All disputes under this Agreement shall be resolved by litigation in the courts  in Morris County in the State of Texas including the federal courts therein and the Parties all consent to the jurisdiction of such courts, agree to accept service of process by mail, and hereby waive any jurisdictional or venue defenses otherwise available to it.  With respect to litigation in the federal courts where multiple districts within the State of Texas have jurisdiction, the Parties agree to jurisdiction in the Eastern District of Texas.

10.  AGREEMENT BINDING ON SUCCESSORS

The provisions of the Agreement shall be binding upon and shall inure to the benefit of the Parties hereto, their heirs, administrators, successors and assigns.

11.  ASSIGNABILITY

Neither party may assign this Agreement or the rights and obligations thereunder to any third party without the prior express written approval of the other party which shall not be unreasonably withheld.

12.  WAIVER

No waiver by either party of any default shall be deemed as a waiver of prior or subsequent default of the same or other provisions of this Agreement.

13.  SEVERABILITY

If any term, clause or provision hereof is held invalid or unenforceable by a court of competent jurisdiction, such invalidity shall not affect the validity or operation of any other term, clause or provision and such invalid term, clause or provision shall be deemed to be severed from the Agreement.

14.  INTEGRATION

This Agreement constitutes the entire understanding of the Parties, and revokes and supersedes all prior agreements between the Parties and is intended as a final expression of their Agreement.  It shall not be modified or amended except in writing signed by the Parties hereto and specifically referring to this Agreement.  This Agreement shall take precedence over any other documents which may conflict with this Agreement.

15.  COUNTERPARTS AND FACSIMILE SIGNATURES

This Agreement may be executed in one or more counterparts, all of which shall be considered one and the same agreement. Facsimile execution and delivery of this Agreement by any of the Parties shall be legal, valid and binding execution and delivery of such document for all purposes.

 

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IN WITNESS WHEREOF, the Parties hereto, intending to be legally bound hereby, have each caused to be affixed hereto its or his/her hand and seal the day indicated.

	  	  	  	  	  	  	  	  
	VERIFYME, INC.  	 	LASERLOCK TECHNOLOGIES, INC.
	 	 	 	 	 	 	 	 
	
By: 

	
/s/ Claudio Ballard

	  	  	
By: 

	
/s/ Norman A. Gardner

	
Title: 

	
President

	 	 	
Title: 

	
Chief Executive Officer

	
Date:

	
December 31, 2012

	  	  	
Date:

	
December 31, 2012

 

 

	 
ASSET PURCHASE AGREEMENT

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Exhibit 10.22

 

TECHNOLOGY AND SERVICES AGREEMENT (ZAAH)

 

TECHNOLOGY AND SERVICES AGREEMENT (ZAAH), dated as of December 31, 2012 (this “Agreement”), by and between LaserLock Technologies, Inc. (“LaserLock”), a Nevada corporation, and Zaah Technologies, Inc. (“Zaah”).  In consideration of the premises and the mutual agreements and covenants hereinafter set forth, LaserLock and Zaah hereby agree as follows:

 

ARTICLE 1

 

DEFINITIONS

 

SECTION 1.01.  Definitions. As used in this Agreement, the following terms shall have the following meanings:

 

“Affiliate” means, with respect to any specified Person, any other Person that directly, or indirectly through one or more intermediaries, controls, is controlled by, or is under common control with, such specified Person.

 

“Common Stock” means the common stock, $0.001 par value per share, of LaserLock.

 

“Person” means any individual, partnership, firm, corporation, limited liability company, association, trust, unincorporated organization or other entity, as well as any syndicate or group that would be deemed to be a person under Section 13(d)(3) of the Securities Exchange Act of 1934, as amended.

 

“Warrants” means the warrants to purchase shares of Common Stock as set forth in Section 2.01.

 

ARTICLE 2

 

TRANSACTIONS

 

SECTION 2.01.  Consideration. In consideration of the transactions contemplated hereby, the parties hereto hereby agree that LaserLock shall pay to Zaah:

 

(a)           $450,000 on the date of this Agreement, consisting of $250,000 in cash and warrants to purchase 4,444,444 shares of Common Stock under a cashless exercise initially at an exercise price of $0.045 on the terms set forth under the warrants issued by LaserLock to Zaah under the Warrant, dated as of December 31, 2012.

 

(b)           $100,000, accrued in full as of the date of this Agreement, but payable in twelve (12) months from the date hereof to a designee of Zaah’s selection, with a right to convert (at Zaah’s sole discretion, from time to time at any time) to shares of Common Stock at the prevailing market price per share of Common Stock (which, as long as the Common Stock is listed, shall be the closing price on the last trading day prior to such issuance or sale of the Common Stock as traded on a national securities exchange, the NASDAQ Global Market, the NASDAQ Capital Market, or another nationally recognized trading system (including Pink OTC Markets, Inc.)); and

 

  

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(c)           a commission of 10% of the revenue generated by any LaserLock transaction originated through the efforts of Zaah, as substantiated by a written agreement between LaserLock and Zaah, specifically referencing the transaction in which Zaah is entitled to such commission, payable by LaserLock to Zaah in cash.  Such payment shall be made on the earlier of (i) the date of the signing of such transaction, (ii) the date of the closing of the transaction, or (iii) any date on which any funds are paid to LaserLock in respect of such transaction.

 

SECTION 2.02.  Services. Zaah and LaserLock hereby agree that Zaah shall provide to LaserLock (a) twelve (12) months of technical support, (b) up to twelve (12) days of meetings annually between the respective management teams of LaserLock and Zaah, (c) updates to technology as agreed in writing between LaserLock and Zaah, and (d) twelve (12) months of technical hosting.

 

SECTION 2.03.  LaserLock Representations. LaserLock hereby represents and warrants to Zaah as follows:

 

(a)           LaserLock has all necessary corporate power and authority to enter into this Agreement, to carry out its obligations hereunder and to consummate the transactions contemplated hereby.  This Agreement has been duly executed and delivered by LaserLock, and (assuming due authorization, execution and delivery by Zaah of this Agreement) shall constitute a legal, valid and binding obligation of LaserLock, enforceable against LaserLock in accordance with its terms.

 

(b)           The execution, delivery and performance of this Agreement by LaserLock will not result in any acceleration of, or requirement to repay, convert or exchange any of the indebtedness of LaserLock.

 

(c)           The Warrants are duly authorized by LaserLock.  The shares of Common Stock issuable upon exercise of the Warrants or otherwise issuable to Zaah in connection with the transactions contemplated hereby have been duly authorized and validly reserved for issuance and, upon issuance, will be duly and validly issued, fully paid, and nonassessable, and will be free of restrictions on transfer other than restrictions on transfer that result from applicable state and federal securities laws.

 

SECTION 2.04.  Further Action. Each party hereto shall use its reasonable best efforts to take, or cause to be taken, all appropriate action, do or cause to be done all things necessary, proper or advisable under applicable law, and execute and deliver such documents and other papers as may be reasonably required to carry out the provisions of this Agreement and consummate and make effective the transactions contemplated by this Agreement.

 

  

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ARTICLE 3

 

MISCELLANEOUS

 

SECTION 3.01.  Amendment; Waiver. This Agreement may not be amended, supplemented, modified or restated except by an instrument in writing signed by, or on behalf of, the parties hereto or by a waiver in accordance with this Section 3.01.  Any extension or waiver to any obligations in this Agreement shall be valid only if set forth in an instrument in writing signed by the party to be bound thereby.  Any waiver of any term or condition shall not be construed as a waiver of any subsequent breach or a subsequent waiver of the same term or condition, or a waiver of any other term or condition of this Agreement.  The failure of any party to assert any of its rights hereunder shall not constitute a waiver of any of such rights.  All rights and remedies existing under this Agreement are cumulative to, and not exclusive of, any rights or remedies otherwise available.

 

SECTION 3.02.  Confidentiality. The parties hereto covenant and agree that they will not, and they will cause their principals, Affiliates, officers and other personnel and authorized representatives not to, use information concerning another party’s business, properties and personnel received in the course of negotiating this Agreement and investigation in connection with this transaction and will hold such information (and will cause the aforesaid persons to hold such information) in confidence until such information otherwise becomes publicly available or as may be required by applicable Law.

 

SECTION 3.03.  Expenses. Except as otherwise specified in this Agreement, each party hereto shall bear its own costs and expenses incurred in connection with this Agreement, including the fees and expenses of their respective accountants and legal counsel.

 

SECTION 3.04.  Notices. All notices, requests, claims, demands and other communications hereunder shall be in writing and shall be given or made (and shall be deemed to have been duly given or made upon receipt) by delivery in person, by an internationally recognized overnight courier service, by telecopy, facsimile or registered or certified mail (postage prepaid, return receipt requested) to the respective parties at the following addresses (or at such other address for a party as shall be specified in a notice given in accordance with this Section 3.04):

 

(a)           if to LaserLock:

 

LaserLock Technologies, Inc.

837 Lindy Lane

Bala Cynwyd, PA 19004

Facsimile:  (610) 668-2771

Attention:  Norman Gardner

Attention:  Neil Alpert

 

  

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with a copy to:

 

Morgan, Lewis & Bockius LLP

1701 Market Street

Philadelphia, PA 19103-2921

Facsimile:  (215) 963-5001

Attention:  Justin W. Chairman, Esq.

 

(b)           if to Zaah:

 

Zaah Technologies, Inc.

171 Milbar Blvd.

Farmingdale, NY 11735

Facsimile:  (631) 873-2050

 

SECTION 3.05.  Severability. If any term or other provision of this Agreement is invalid, illegal or incapable of being enforced by any Law or public policy, all other terms and provisions of this Agreement shall nevertheless remain in full force and effect for so long as the economic or legal substance of the transactions contemplated by this Agreement is not affected in any manner materially adverse to any party.  Upon such determination that any term or other provision is invalid, illegal or incapable of being enforced, the parties hereto shall negotiate in good faith to modify this Agreement so as to effect the original intent of the parties as closely as possible in an acceptable manner in order that the transactions contemplated by this Agreement are consummated as originally contemplated to the greatest extent possible.

 

SECTION 3.06.  Assignment. This Agreement may not be assigned by the parties hereto by operation of law or otherwise.

 

SECTION 3.07.  Third Party Beneficiaries and Transfers. Except in respect of VerifyMe, Inc., a Texas corporation, which the parties hereto acknowledge as an intended third-party beneficiary of this Agreement, this Agreement shall be binding upon and inure solely to the benefit of the parties hereto and their permitted assigns and nothing herein, express or implied, is intended to or shall confer upon any other Person, any legal or equitable right, benefit or remedy of any nature whatsoever under or by reason of this Agreement.

 

SECTION 3.08.  Governing Law; Consent to Jurisdiction. This Agreement shall be governed by, and construed in accordance with, the laws of the State of Florida.  The parties hereto hereby (a) submit to the exclusive jurisdiction of any state or federal court sitting in Broward County, Florida for the purpose of any action arising out of or relating to this Agreement brought by any party hereto, and (b) irrevocably waive, and agree not to assert by way of motion, defense, or otherwise, in any such action, any claim that it is not subject personally to the jurisdiction of the above named courts, that its property is exempt or immune from attachment or execution, that the action is brought in an inconvenient forum, that the venue of the action is improper, or that this Agreement or the transactions contemplated by this Agreement may not be enforced in or by any of the above named courts.

 

SECTION 3.09.  Waiver of Jury Trial. Each of the parties hereto hereby irrevocably waives to the fullest extent permitted by applicable Law any right it may have to a trial by jury with respect to any litigation directly or indirectly arising out of, under or in connection with this Agreement or the Ancillary Agreements.  Each of the parties hereto (a) certifies that no representative of any other party has represented, expressly or otherwise, that such other party would not, in the event of litigation, seek to enforce the foregoing waiver and (b) acknowledges that it and the other parties hereto have been induced to enter into this Agreement and the Ancillary Agreements, as applicable, by, among other things, the mutual waivers and certifications in this Section 3.09.

 

  

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SECTION 3.10.  Entire Agreement. This Agreement constitutes the entire agreement of the parties hereto with respect to the subject matter hereof and supersedes all prior agreements and undertakings, both written and oral, between LaserLock and Zaah with respect to the subject matter hereof.

 

SECTION 3.11.  Counterparts. This Agreement may be executed and delivered (including by facsimile transmission) in one or more counterparts, and by the different parties hereto in separate counterparts, each of which when executed shall be deemed to be an original, but all of which taken together shall constitute one and the same agreement.

 

SECTION 3.12.  Public Announcements. Subject to its obligations under Law (including requirements of stock exchanges and other similar regulatory bodies and the requirements of the Exchange Act), no party hereto shall make any announcement regarding the entering into of this Agreement or the Closing to the financial community, governmental entities, employees, customers or the general public without the prior consent of the other party, which shall not be unreasonably withheld; provided, that if a party hereto is required by any such obligations under Law to make any such announcement as contemplated by this Section 3.12, the parties hereto shall cooperate with each other regarding the contents and timing of any such announcement, and the non-announcing party shall have the opportunity to review and comment upon the language of the proposed announcement in advance of public disclosure.  Any such comments shall be considered in good faith by the announcing party.

 

SECTION 3.13.  Termination. This Agreement shall terminate five (5) years from the date hereof.

 

SECTION 3.14.  Rules of Interpretation. In this Agreement, except to the extent otherwise provided or that the context otherwise requires: (a) when a reference is made in this Agreement to an Article, Section, Exhibit or Schedule, such reference is to an Article or Section of, or an Exhibit or Schedule to, this Agreement; (b) the table of contents and headings for this Agreement are for reference purposes only and do not affect in any way the meaning or interpretation of this Agreement; (c) whenever the words “include,” “includes” or “including” are used in this Agreement, they are deemed to be followed by the words “without limitation”; (d) the words “hereof,” “herein” and “hereunder” and words of similar import, when used in this Agreement, refer to this Agreement as a whole and not to any particular provision of this Agreement; (e) all terms defined in this Agreement have the defined meanings when used in any certificate or other document delivered or made available pursuant hereto, unless otherwise defined therein; (f) the definitions contained in this Agreement are applicable to the singular as well as the plural forms of such terms; (g) references to a Person are also to its successors and permitted assigns; and (h) references to sums of money are expressed in lawful currency of the United States of America, and “$” refers to U.S. dollars.

 

  

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IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed by their respective officers or other representatives thereunto duly authorized, as of the date first above written.

 

	 	
LASERLOCK TECHNOLOGIES, INC.

	 
	 	 	 	 
	
 

	
By: 

	
/s/ Norman A. Gardner

	 
	 	 	Name: Norman A. Gardner	 
	 	 	

Title:  Chief Executive Officer

	 

 

	 	
ZAAH TECHNOLOGIES, INC.

	 
	 	 	 	 
	
 

	
By: 

	
/s/  Sandy Fliderman

	 
	 	 	
Name:  Sandy Fliderman

	 
	 	 	
Title:  CTO

	 
	 	 	 	 

 

[Signature Page to Services Agreement (Zaah)]

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