Document:

Exhibit 10.2

Exhibit 10.2

RegeneRx Biopharmaceuticals, Inc.

Stock Option Grant Notice

(2010 Equity Incentive Plan)

RegeneRx Biopharmaceuticals, Inc. (the “Company”), pursuant to its 2010 Equity Incentive Plan (the
“Plan”), hereby grants to Optionholder an option to purchase the number of shares of the Company’s
Common Stock set forth below. This option is subject to all of the terms and conditions as set
forth herein and in the Option Agreement, the Plan, and the Notice of Exercise, all of which are
attached hereto and incorporated herein in their entirety.

	 	 	 	 	 
	Optionholder:
	 	 	 	 
	Date of Grant:

	 	 

	 	 
	Vesting Commencement Date:

	 	 

	 	 
	Number of Shares Subject to Option (“Shares”):

	 	
 	 	 
	Exercise Price (Per Share):
	 	 	 	 
	Total Exercise Price:

	 	 

	 	 
	Expiration Date:

	 	 

	 	 
	 

	 	 

	 	 

	 	 	 	 	 
	Type of Grant:

	 	o   Incentive Stock Option1
	 	o Nonstatutory Stock Option
	 
	 	 	 	 
	Exercise Schedule:

	 	o   Same as Vesting Schedule	 	 
	 
	 	 	 	 
	Vesting Schedule:	 	[1/4th of the shares vest one year after the Vesting Commencement Date; the balance of the shares vest in
a series of 36 successive equal monthly installments measured from the first anniversary of the Vesting Commencement
Date.]
	 
	 	 	 	 
	Payment:	 	By one or a combination of the following items (described in the Option Agreement):
	 
	 	 	 	 
	 	 	o   By cash or check

o   Pursuant to a Regulation T Program if the Shares are publicly traded

o   By delivery of already-owned shares if the Shares are publicly traded

o   By net exercise 2

Additional Terms/Acknowledgements: The undersigned Optionholder acknowledges receipt of, and
understands and agrees to, this Stock Option Grant Notice, the Option Agreement and the Plan.
Optionholder further acknowledges that as of the Date of Grant, this Stock Option Grant Notice, the
Option Agreement, and the Plan set forth the entire understanding between Optionholder and the
Company regarding the acquisition of stock in the Company and supersede all prior oral and written
agreements on that subject with the exception of (i) options previously granted and delivered to
Optionholder under the Plan, and (ii) the following agreements only:

	 	 	 	 	 
	Other Agreements:
	 	 	 	 
	 

	 	 

	 	 
	 

	 	 

	 	 

 

	 	 	 
	1	 	If this is an Incentive Stock Option, it (plus other
outstanding Incentive Stock Options) cannot be first exercisable for more than
$100,000 in value (measured by exercise price) in any calendar year. Any
excess over $100,000 is a Nonstatutory Stock Option.

	 
	2	 	An Incentive Stock Option may not be exercised by a net
exercise arrangement.

 

 

 

	 	 	 	 	 	 	 	 	 	 	 
	RegeneRx Biopharmaceuticals, Inc.	 	 	 	Optionholder:	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	By:
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 

	 	Signature
	 	 	 	 	 	Signature	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	Title:

	 	 	 	 	 	Date:	 	 	 	 
	 

	 	 

	 	 	 	 	 	 

	 	 
	Date:
	 	 	 	 	 	 	 	 	 	 
	 

	 	 

	 	 	 	 	 	 	 	 

 

 

RegeneRx Biopharmaceuticals, Inc.

2010 Equity Incentive Plan

Option Agreement

(Incentive Stock Option or Nonstatutory Stock Option)

Pursuant to your Stock Option Grant Notice (“Grant Notice”) and this Option Agreement,
RegeneRx Biopharmaceuticals, Inc. (the “Company”) has granted you an option under its 2010 Equity
Incentive Plan (the “Plan”) to purchase the number of shares of the Company’s Common Stock
indicated in your Grant Notice at the exercise price indicated in your Grant Notice. Defined terms
not explicitly defined in this Option Agreement but defined in the Plan shall have the same
definitions as in the Plan.

The details of your option are as follows:

1. Vesting. Subject to the limitations contained herein and the potential vesting
acceleration provisions set forth in Section 9 of the Plan, your option will vest as provided in
your Grant Notice, provided that vesting will cease upon the termination of your Continuous
Service.

2. Number of Shares and Exercise Price. The number of shares of Common Stock subject
to your option and your exercise price per share referenced in your Grant Notice may be adjusted
from time to time for Capitalization Adjustments.

3. Exercise Restriction for Non-Exempt Employees. In the event that you are an
Employee eligible for overtime compensation under the Fair Labor Standards Act of 1938, as amended
(i.e., a “Non-Exempt Employee”), and except as otherwise provided in the Plan, you may not exercise
your option until you have completed at least six (6) months of Continuous Service measured from
the Date of Grant specified in your Grant Notice, notwithstanding any other provision of your
option.

4. Method of Payment. Payment of the exercise price is due in full upon exercise of
all or any part of your option. You may elect to make payment of the exercise price in cash or by
check or in any other manner permitted by your Grant Notice, which may include one or more of the
following:

(a) Provided that at the time of exercise the Common Stock is publicly traded, pursuant to a
program developed under Regulation T as promulgated by the Federal Reserve Board that, prior to the
issuance of Common Stock, results in either the receipt of cash (or check) by the Company or the
receipt of irrevocable instructions to pay the aggregate exercise price to the Company from the
sales proceeds.

(b) Provided that at the time of exercise the Common Stock is publicly traded, by delivery to
the Company (either by actual delivery or attestation) of already-owned shares of Common Stock that
are owned free and clear of any liens, claims, encumbrances or security interests, and that are
valued at Fair Market Value on the date of exercise. “Delivery” for these
purposes, in the sole discretion of the Company at the time you exercise your option, shall
include delivery to the Company of your attestation of ownership of such shares of Common Stock in
a form approved by the Company. Notwithstanding the foregoing, you may not exercise your option by
tender to the Company of Common Stock to the extent such tender would violate the provisions of any
law, regulation or agreement restricting the redemption of the Company’s stock.

 

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(c) If the Option is a Nonstatutory Stock Option, by a “net exercise” arrangement pursuant to
Section 5(c)(iv) of the Plan, or any successor provision.

5. Whole Shares. You may exercise your option only for whole shares of Common Stock.

6. Securities Law Compliance. Notwithstanding anything to the contrary contained
herein, you may not exercise your option unless the shares of Common Stock issuable upon such
exercise are then registered under the Securities Act or, if such shares of Common Stock are not
then so registered, the Company has determined that such exercise and issuance would be exempt from
the registration requirements of the Securities Act. The exercise of your option also must comply
with other applicable laws and regulations governing your option, and you may not exercise your
option if the Company determines that such exercise would not be in material compliance with such
laws and regulations.

7. Term. You may not exercise your option before the commencement of its term or
after its term expires. The term of your option commences on the Date of Grant and expires,
subject to the provisions of Section 5(h) of the Plan, upon the earliest of the following:

(a) immediately upon the termination of your Continuous Service for Cause;

(b) three (3) months after the termination of your Continuous Service for any reason other
than Disability or death, provided that if during any part of such three (3)-month period you may
not exercise your option solely because of the condition set forth in Section 6 above entitled
“Securities Law Compliance,” your option shall not expire under this Section 7(b) until it shall
have been exercisable for an aggregate period of three (3) months after the termination of your
Continuous Service; and if (i) you are a Non-Exempt Employee, (ii) your Continuous Service
terminates within six (6) months after the Date of Grant specified in your Grant Notice, and (iii)
you have vested in a portion of your option at the time of your termination of Continuous Service,
your option shall not expire until the earlier of (x) the later of (A) the date that is seven (7)
months after the Date of Grant specified in your Grant Notice, or (B) the date that is three (3)
months after the termination of your Continuous Service, or (y) the Expiration Date;

(c) twelve (12) months after the termination of your Continuous Service due to your
Disability;

(d) eighteen (18) months after your death if you die either during your Continuous Service or
within three (3) months after your Continuous Service terminates for any reason other than Cause;

 

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(e) the Expiration Date indicated in your Grant Notice; or

(f) the day before the tenth (10th) anniversary of the Date of Grant.

If your option is an Incentive Stock Option, note that, to obtain the federal income tax
advantages associated with an Incentive Stock Option, the Code requires that at all times beginning
on the date of grant of your option and ending on the day three (3) months before the date of your
option’s exercise, you must be an employee of the Company or an Affiliate, except in the event of
your death or Disability. The Company has provided for extended exercisability of your option
under certain circumstances for your benefit but cannot guarantee that your option will necessarily
be treated as an Incentive Stock Option if you continue to provide services to the Company or an
Affiliate as a Consultant or Director after your employment terminates or if you otherwise exercise
your option more than three (3) months after the date your employment terminates.

8. Exercise.

(a) You may exercise the vested portion of your option during its term by delivering a Notice
of Exercise (in a form designated by the Company) together with the exercise price to the Secretary
of the Company, or to such other person as the Company may designate, during regular business
hours, together with such additional documents as the Company may then require.

(b) By exercising your option you agree that, as a condition to any exercise of your option,
the Company may require you to enter into an arrangement providing for the payment by you to the
Company of any tax withholding obligation of the Company arising by reason of (i) the exercise of
your option, (ii) the lapse of any substantial risk of forfeiture to which the shares of Common
Stock are subject at the time of exercise, or (iii) the disposition of shares of Common Stock
acquired upon such exercise.

(c) If your option is an Incentive Stock Option, by exercising your option you agree that you
will notify the Company in writing within fifteen (15) days after the date of any disposition of
any of the shares of the Common Stock issued upon exercise of your option that occurs within two
(2) years after the date of your option grant or within one (1) year after such shares of Common
Stock are transferred upon exercise of your option.

9. Transferability. Except as otherwise provided in this Section 9, your option is
not transferable, except by will or by the laws of descent and distribution, and is exercisable
during your life only by you.

(a) Certain Trusts. Upon receiving written permission from the Board or its duly authorized
designee, you may transfer your option to a trust if you are considered to be the sole beneficial
owner (determined under Section 671 of the Code and applicable state law) while the option is held
in the trust, provided that you and the trustee enter into transfer and other agreements required
by the Company.

 

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(a) Domestic Relations Orders. Upon receiving written permission from the Board or its duly
authorized designee, and provided that you and the designated transferee enter
into transfer and other agreements required by the Company, you may transfer your option
pursuant to a domestic relations order that contains the information required by the Company to
effectuate the transfer. You are encouraged to discuss the proposed terms of any division of this
option with the Company prior to finalizing the domestic relations order to help ensure the
required information is contained within the domestic relations order. If this option is an
Incentive Stock Option, this option may be deemed to be a Nonstatutory Stock Option as a result of
such transfer.

(b) Beneficiary Designation. Upon receiving written permission from the Board or its duly
authorized designee, you may, by delivering written notice to the Company, in a form provided by or
otherwise satisfactory to the Company, designate a third party who, in the event of your death,
shall thereafter be entitled to exercise this option and receive the Common Stock or other
consideration resulting from such exercise. In the absence of such a designation, your executor or
administrator of your estate shall be entitled to exercise this option and receive, on behalf of
your estate, the Common Stock or other consideration resulting from such exercise.

10. Option not a Service Contract. Your option is not an employment or service
contract, and nothing in your option shall be deemed to create in any way whatsoever any obligation
on your part to continue in the employ of the Company or an Affiliate, or of the Company or an
Affiliate to continue your employment. In addition, nothing in your option shall obligate the
Company or an Affiliate, their respective stockholders, Boards of Directors, Officers or Employees
to continue any relationship that you might have as a Director or Consultant for the Company or an
Affiliate.

11. Withholding Obligations.

(a) At the time you exercise your option, in whole or in part, or at any time thereafter as
requested by the Company, you hereby authorize withholding from payroll and any other amounts
payable to you, and otherwise agree to make adequate provision for (including by means of a
“cashless exercise” pursuant to a program developed under Regulation T as promulgated by the
Federal Reserve Board to the extent permitted by the Company), any sums required to satisfy the
federal, state, local and foreign tax withholding obligations of the Company or an Affiliate, if
any, which arise in connection with the exercise of your option.

(b) Upon your request and subject to approval by the Company, in its sole discretion, and in
compliance with any applicable legal conditions or restrictions, the Company may withhold from
fully vested shares of Common Stock otherwise issuable to you upon the exercise of your option a
number of whole shares of Common Stock having a Fair Market Value, determined by the Company as of
the date of exercise, not in excess of the minimum amount of tax required to be withheld by law (or
such lower amount as may be necessary to avoid classification of your option as a liability for
financial accounting purposes). If the date of determination of any tax withholding obligation is
deferred to a date later than the date of exercise of your option, share withholding pursuant to
the preceding sentence shall not be permitted unless you make a proper and timely election under
Section 83(b) of the Code, covering the aggregate number of shares of Common Stock acquired upon
such exercise with respect to which such determination is otherwise deferred, to accelerate the
determination of such tax withholding obligation to the date of exercise of your option.
Notwithstanding the filing
of such election, shares of Common Stock shall be withheld solely from fully vested shares of
Common Stock determined as of the date of exercise of your option that are otherwise issuable to
you upon such exercise. Any adverse consequences to you arising in connection with such share
withholding procedure shall be your sole responsibility.

 

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(c) You may not exercise your option unless the tax withholding obligations of the Company
and/or any Affiliate are satisfied. Accordingly, you may not be able to exercise your option when
desired even though your option is vested, and the Company shall have no obligation to issue a
certificate for such shares of Common Stock unless such obligations are satisfied.

12. Tax
Consequences.  You hereby agree that the Company does not have a duty to
design or administer the Plan or its other compensation programs in a manner that minimizes your
tax liabilities. You shall not make any claim against the Company, or any of its Officers,
Directors, Employees or Affiliates related to tax liabilities arising from your option or your
other compensation. In particular, you acknowledge that this option is exempt from Section 409A of
the Code only if the exercise price per share specified in the Grant Notice is at least equal to
the “fair market value” per share of the Common Stock on the Date of Grant and there is no other
impermissible deferral of compensation associated with the option.

13. Notices. Any notices provided for in your option or the Plan shall be given in
writing and shall be deemed effectively given upon receipt or, in the case of notices delivered by
mail by the Company to you, five (5) days after deposit in the United States mail, postage prepaid,
addressed to you at the last address you provided to the Company.

14. Governing Plan Document. Your option is subject to all the provisions of the
Plan, the provisions of which are hereby made a part of your option, and is further subject to all
interpretations, amendments, rules and regulations, which may from time to time be promulgated and
adopted pursuant to the Plan. In the event of any conflict between the provisions of your option
and those of the Plan, the provisions of the Plan shall control.

15. No Obligation to Notify. The Company shall have no duty or obligation to advise
you as to the time or manner of exercising your option. Furthermore, the Company shall have no
duty or obligation to warn or otherwise advise you of a pending termination or expiration of the
option or a possible period in which the option may not be exercised. The Company has no duty or
obligation to minimize the tax consequences of the option to you.

* * *

This Option Agreement shall be deemed to be signed by the Company and Participant upon the
signing by Participant of the Stock Option Grant Notice to which it is attached.

 

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RegeneRx Biopharmaceuticals, Inc.

2010 Equity Incentive Plan

Notice of Exercise

	 	 	 	 	 	 	 	 	 
	RegeneRx Biopharmaceuticals, Inc.
	 	 	 	 	 	 	 	 
	15245 Shady Grove Road, Suite 470
	 	 	 	 	 	 	 	 
	Rockville, Maryland 20850

	 	 	 	Date of Exercise:	 	 	 	 
	 

	 	 	 	 	 	 

	 	 
	Ladies and Gentlemen:
	 	 	 	 	 	 	 	 

This constitutes notice under my stock option that I elect to purchase the number of shares
for the price set forth below.

	 	 	 	 	 	 	 
	Type of option (check one):

	 	Incentive o
	 	Nonstatutory o
	 	 
	 
	 	 	 	 	 	 
	Stock option dated:

	 	                    	 	 	 	 
	 
	 	 	 	 	 	 
	Number of shares as to which
option is exercised:

	 	                    	 	 	 	 
	 
	 	 	 	 	 	 
	Shares to be issued in name of:

	 	                    	 	 	 	 
	 
	 	 	 	 	 	 
	Total exercise price:

	 	$                    	 	 	 	 
	 
	 	 	 	 	 	 
	Cash payment delivered herewith:

	 	$                    	 	 	 	 
	 
	 	 	 	 	 	 
	Regulation T Program (cashless
exercise)

	 	$                    	 	 	 	 
	 
	 	 	 	 	 	 
	Value of                      shares of
RegeneRx Biopharmaceuticals,
Inc. common stock delivered
herewith1:

	 	$                    	 	 	 	 
	 
	 	 	 	 	 	 
	Value of                      shares of
RegeneRx Biopharmaceuticals,
Inc. common stock pursuant to
net exercise2:

	 	$                    	 	 	 	 

By this exercise, I agree (i) to provide such additional documents as you may require pursuant
to the terms of the RegeneRx Biopharmaceuticals, Inc. 2010 Equity Incentive Plan, (ii) to provide
for the payment by me to you (in the manner designated by you) of your withholding obligation, if any, relating to the exercise of this option, and (iii) if this
exercise relates to an incentive stock option, to notify you in writing within fifteen (15) days
after the date of any disposition of any of the shares of Common Stock issued upon exercise of this
option that occurs within two (2) years after the date of grant of this option or within one (1)
year after such shares of Common Stock are issued upon exercise of this option.

	 	 	 	 	 
	 

	 	Very truly yours,	 	 
	 
	 	 	 	 
	 

	 	 

	 	 

 

	 	 	 
	1	 	Shares must meet the public trading requirements set
forth in the option. Shares must be valued in accordance with the terms of the
option being exercised, must have been owned for the minimum period required in
the option, and must be owned free and clear of any liens, claims, encumbrances
or security interests. Certificates must be endorsed or accompanied by an
executed assignment separate from certificate.

	 
	2	 	An Incentive Stock Option may not be exercised by a net
exercise arrangement.ex101.htm

Exhibit 10.1

 

ACQUISITION AGREEMENT

           This ACQUISITION AGREEMENT (the “Agreement”)  is entered into and made effective as of the 24th day of June, 2010 by and between the undersigned shareholders (“Sellers”) of BioCube, Inc., a Nevada corporation ("BioCube");  and Alliance Network Communications Holdings, Inc.., a Delaware corporation ("ALHN" or "Purchaser") for the acquisition of all of the ownership interests in BioCube

WHEREAS, the Sellers, upon the terms and conditions set forth below, desire to transfer 100% of the ownership interests to ALHN, such that, following such transaction, BioCube will become a 100% wholly-owned subsidiary of ALHN.

           NOW, THEREFORE, in consideration of the mutual covenants, agreements, representations and warranties contained in this Agreement, the Parties hereto agree as follows:

1.    SALE AND PURCHASE OF EQUITY INTERESTS.

1.1           PURCHASE AND SALE.  Subject to the terms and conditions herein set forth, ALHN hereby agrees to acquire and Sellers hereby agrees to transfer one hundred percent (100%) of the ownership interests in BioCube to ALHN, represented by 5,050,000 shares of common stock of BioCube (the "Stock").

1.2           CONSIDERATION.  The consideration for the Stock shall be the issuance to Sellers of 8,750,000 common shares of ALHN (the "ALHN Stock"), which shares shall be issued as set forth on Schedule “A” hereto

2.  REPRESENTATIONS AND WARRANTIES

2.1           REPRESENTATIONS AND WARRANTIES OF SELLERS AND BIOCUBE. The Sellers and BioCube represent and warrant as follows:

a)        CORPORATE ORGANIZATION AND GOOD STANDING. BioCube is a corporation duly organized, validly existing, and in good standing under the laws of the State of Nevada, and is qualified to do business as a foreign corporation in each jurisdiction, if any, in which its property or business requires such qualification.

b)        CORPORATE AUTHORITY.  BioCube has all requisite corporate power and authority to execute, deliver, perform and conclude the transactions contemplated by this Agreement and all other agreements and instruments related to this Agreement.

c)        NO VIOLATION.  Consummation of the acquisition contemplated herein will not constitute or result in a breach or default under any provision of any charter, bylaw, indenture, mortgage, lease, or agreement, or any order, judgment, decree, law, or regulation by which Sellers or BioCube is bound.

  

  

  

d)        INVESTOR STATUS.  Sellers is an “accredited investor” as defined in Regulation D of the Securities Act of 1933 or Sellers, either alone or with Sellers’s professional advisors who are unaffiliated with, have no equity interest in and are not compensated by Buyer or any affiliate or selling agent of Buyer, directly or indirectly, have sufficient knowledge and experience in financial and business matters that Sellers is capable of evaluating the merits and risks of an investment in the ALHN Stock and of making an informed investment decision with respect thereto and has the capacity to protect Sellers’s own interests in connection with Sellers’s proposed investment in ALHN Stock.

e)        INVESTMENT.  Sellers is acquiring the ALHN Stock solely for Sellers’s own account as principal, for investment purposes only and not with a view to the resale or distribution thereof, in whole or in part, and no other person or entity has a direct or indirect beneficial interest in such ALHN Stock.

2.2           REPRESENTATIONS AND WARRANTIES OF BUYER. The Buyer represents and warrants as follows:

a)        ORGANIZATION AND GOOD STANDING. Buyer is a Nevada corporation , and is qualified to do business as a foreign corporation in each jurisdiction, if any, in which its property or business requires such qualification.

b)        AUTHORITY.  Buyer has the authority to execute, deliver, perform and conclude the transactions contemplated by this Agreement and all other agreements and instruments related to this Agreement.

c)        NO VIOLATION.  Consummation of the acquisition contemplated herein will not constitute or result in a breach or default under any provision of any charter, bylaw, indenture, mortgage, lease, or agreement, or any order, judgment, decree, law, or regulation by which Buyer is bound.

   

d)        UNDISCLOSED LIABILITIES.  There are no debts, claims, liabilities or obligations owed by or claimed against Buyer or the business of Buyer, except as reflected on the books and records of the Buyer and the business and as disclosed by Buyer in writing to Sellers.

e)        FINANCIAL STATEMENTS.    Attached to this Agreement as Schedule "B" are true and correct copies of the audited financial statements of ALHN for the fiscal year ended January 31, 2009 and for the subsequent quarterly period ended April 30, 2010, prepared in accordance with the books and records of ALHN and in accordance with generally accepted accounting principles as applied in the United States on a consistent basis for all periods, and without misstating or omitting any material information.

   f)           CAPITAL STRUCTURE. The authorized capital stock of ALHN consists of Twenty-One Thousand (21,000) shares of Series A preferred stock, par value $0.001 per share, of which Twenty-One Thousand (21,000)  shares are issued and outstanding, and Three Hundred Million (300,000,000) shares of common stock, $0.001 par value, of which Nineteen Million Nine Hundred Ninety Seven Thousand, Seven Hundred Seventy Eight (19,977,778) shares of common stock are issued and outstanding.  ALHN does not have outstanding any other stock or other securities convertible or exchangeable for any shares of its capital stock or containing any profit participation features, nor any rights, warrants or options to subscribe for or to purchase its capital stock or any stock or securities convertible into or exchangeable for its capital stock or any stock appreciation rights or phantom stock plan except as listed on Schedule 2.2f.  ALHN is not subject to any option or other obligation (contingent or otherwise) to repurchase or otherwise acquire or retire any shares of its capital stock or any warrants, options or other rights to acquire or issue its capital stock.  There are approximately 25 shareholders of record of ALHN, exclusive of shares held by brokers, clearing agencies or other nominees.  All of such shareholders have valid title to such shares and acquired their shares in a lawful transaction and in accordance with Nevada corporate law and the applicable securities laws of the United States and any state in which shares were issued or transferred.    There are no pre-emptive rights with respect to any past, current or future issue of ALHN common stock.

 

  g)           LITIGATION.   There are no pending or threatened claims, litigation, demands or other liabilities of or against Buyer except as disclosed in its quarterly report on Form 10-Q for the quarter ended April 30, 2010.

  

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3.  CONDITIONS PRECEDENT

3.1           Conditions to Each Party’s Obligations. The respective obligations of each Party hereunder shall be subject to the satisfaction prior to or at the Closing (as hereinafter defined) of the following conditions:

a)        No Restraints. No statute, rule, regulation, order, decree, or injunction shall have been enacted, entered, promulgated, or enforced by any court or governmental entity of competent jurisdiction which enjoins or prohibits the consummation of this Agreement and shall be in effect.

b)        Legal Action. There shall not be pending or threatened in writing any action, proceeding, or other application before any court or governmental entity challenging or seeking to restrain or prohibit the consummation of the transactions contemplated by this Agreement, or seeking to obtain any material damages.

3.2           Conditions to Sellers’s Obligations. The obligations of the Sellers shall be subject to the satisfaction prior to or at the Closing of the following conditions unless waived by the Sellers:

a)        Representations and Warranties of Buyer. The representations and warranties of Buyer set forth in this Agreement shall be true and correct as of the date of this Agreement and as of the Closing as though made on and as of the Closing, except: (i) as otherwise contemplated by this Agreement; or (ii) in respects that do not have a Material Adverse Effect on the Parties or on the benefits of the transactions provided for in this Agreement. “Material Adverse Effect” for purposes of this Agreement shall mean any change or effect that, individually or when taken together with all other such changes or effects which have occurred prior to the date of determination of the occurrence of the Material Adverse Effect, is or is reasonably likely to be materially adverse to the business, assets, financial condition, or results of operation of the entity.

b)        Performance of Obligations of Buyer. Buyer shall have performed all agreements and covenants required to be performed by it under this Agreement prior to the Closing, except for breaches that do not have a Material Adverse Effect on the Parties or on the benefits of the transactions provided for in this Agreement.

3.3           Conditions to Buyer’s Obligations. The obligations of Buyer shall be subject to the satisfaction prior to or at the Closing of the following conditions unless waived by Buyer:

a)        Representatives and Warranties of Sellers. The representations and warranties of the Sellers set forth in this Agreement shall be true and correct as of the date of this Agreement and as of the Closing as though made on and as of the Closing, except: (i) as otherwise contemplated by this Agreement, or (ii) in respects that do not have a Material Adverse Effect on the Parties or on the benefits of the transactions provided for in this Agreement.

 

 

b)        Performance of Sellers. Sellers shall have performed all agreements and covenants required to be performed by them under this Agreement prior to Closing, except for breaches that do not have a Material Adverse Effect on the Parties or on the benefits of the transactions provided for in this Agreement.

4. CLOSING AND DELIVERY OF DOCUMENTS

4.1           Time and Place. The Closing of the transaction contemplated by this Agreement shall take place immediately upon the full execution of this Agreement, the satisfaction of all conditions, and completion of due diligence by Buyer and Sellers which shall be completed within five (5) days of execution by all parties, or at such other time and place as the Parties mutually agree, by the exchange of the Stock for the ALHN Stock.  All proceedings to be taken and all documents to be executed at the Closing shall be deemed to have been taken, delivered and executed simultaneously, and no proceeding shall be deemed taken nor documents deemed executed or delivered until all have been taken, delivered and executed.  The date of Closing may be accelerated or extended by agreement of the parties.

 

 

  

3

  

Any copy, facsimile telecommunication or other reliable reproduction of the writing or transmission required by this Agreement or any signature required thereon may be used in lieu of an original writing or transmission or signature for any and all purposes for which the original could be used, provided that such copy, facsimile telecommunication or other reproduction shall be a complete reproduction of the entire original writing or transmission or original signature.

4.2           Deliveries by Buyer. At Closing, or in accordance with the terms of this Agreement, Buyer shall make the following deliveries to Sellers:

a)        Stock certificates of Buyer representing the ALHN Stock referred to in and in accordance with Section 1.2;

b)        Certified resolutions of the Board of Directors of ALHN authorizing the execution and performance of this Agreement;

c)        The appointment of three members designated by Sellers to the Board of Directors of Buyer, followed by the resignation of the current directors and offciers of ALHN.

c)        Any other Closing Documents as may be necessary or reasonably requested in order to consummate the transaction contemplated under this Agreement.

4.3           Deliveries by Sellers. At Closing or as soon as practicable thereafter, Sellers shall make the following deliveries to Buyer:

a)        The Stock, fully endorsed for transfer to Buyer;

b)        Certified resolutions of the Board of Directors of BioCube authorizing the execution and performance of this Agreement and the transactions contemplated herein; and

c)        Any other Closing Documents as may be necessary or reasonably requested in order to consummate the transaction contemplated under this Agreement.

5.  INDEMNIFICATION AND ARBITRATION

5.1.           Indemnification. The Sellers, on the one hand, and the Buyer, on the other hand, (each party, “Indemnifying Party”) shall agree to indemnify, and hold harmless the other party (“Indemnified Party”) from any and all claims, demands, liabilities, damages, losses, costs and expenses that the other party shall incur or suffer, that arise, result from or relate to any breach of, or failure by Indemnifying Party to perform any of their respective representations, warranties, covenants, or agreements in this Agreement or in any exhibit, addendum, or any other instrument furnished by the Indemnifying Party under this Agreement.

5.2           Arbitration & Governing Law. The parties hereby agree that any and all claims (except only for requests for injunctive or other equitable relief) whether existing now, in the past or in the future as to which the parties or any affiliates may be adverse parties, and whether arising out of this Agreement or from any other cause, will be resolved by arbitration before the American Arbitration Association within the State of Nevada.

  

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a)        The parties hereby irrevocably consent to the jurisdiction of the American Arbitration Association and the situs of the arbitration (and any requests for injunctive or other equitable relief) within the State of Nevada. Any award in arbitration may be entered in any domestic or foreign court having jurisdiction over the enforcement of such awards.

b)        The law applicable to the arbitration and this Agreement shall be that of the State of Nevada.

c)        The arbitrator may, in its discretion, allow the parties to make reasonable disclosure and discovery in regard to any matters which are the subject of the arbitration and to compel compliance with such disclosure and discovery order.  The arbitrator may order the parties to comply with all or any of the disclosure and discovery provisions of the Federal Rules of Civil Procedure, as they then exist, as may be modified by the arbitrator consistent with the desire to simplify the conduct and minimize the expense of the arbitration.

d)   Regardless of any practices of arbitration to the contrary, the arbitrator will apply the rules of contract and other law of the jurisdiction whose law applies to the arbitration so that the decision of the arbitrator will be, as much as possible, the same as if the dispute had been determined by a court of competent jurisdiction.

e)   Any award or decision by the American Arbitration Association shall be final, binding and non-appealable except as to errors of law or the failure of the arbitrator to adhere to the arbitration provisions contained in this agreement.  Each party to the arbitration shall pay its own costs and counsel fees except as specifically provided otherwise in this agreement.

f)   In any adverse action, the parties shall restrict themselves to claims for compensatory damages and\or securities issued or to be issued and no claims shall be made by any party or affiliate for lost profits, punitive or multiple damages.

g)  The parties covenant that under no conditions will any party or any affiliate file any action against the other (except only requests for injunctive or other equitable relief) in any forum other than before the American Arbitration Association, and the parties agree that any such action, if filed, shall be dismissed upon application and shall be referred for arbitration hereunder with costs and attorney's fees to the prevailing party.

h)  It is the intention of the parties and their affiliates that all disputes of any nature between them, whenever arising, whether in regard to this agreement or any other matter, from whatever cause, based on whatever law, rule or regulation, whether statutory or common law, and however characterized, be decided by arbitration as provided herein and that no party or affiliate be required to litigate in any other forum any disputes or other matters except for requests for injunctive or equitable relief. This agreement shall be interpreted in conformance with this stated intent of the parties and their affiliates.

The provisions for arbitration contained herein shall survive the termination of this agreement for any reason.

  

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6.  GENERAL PROVISIONS.

6.1           FURTHER ASSURANCES.  From time to time, each party will execute such additional instruments and take such actions as may be reasonably required to carry out the intent and purposes of this Agreement.

6.2           WAIVER.  Any failure on the part of either party hereto to comply with any of its obligations, agreements, or conditions hereunder may be waived in writing by the party to whom such compliance is owed.

6.3           BROKERS.  Each party agrees to indemnify and hold harmless the other party against any fee, loss, or expense arising out of claims by brokers or finders employed or alleged to have been employed by the indemnifying party.

6.5           NOTICES.  All notices and other communications hereunder shall be in writing and shall be given by personal delivery, overnight delivery, mailed by registered or certified mail, postage prepaid, with return receipt requested, as follows:

If to Buyer, to:

Alliance Network Communications Holdings, Inc.

    120 Wall Street, Suite 2401

    New York, NY 10005

If to Sellers, to:

Boris Rubizhevsky

BioCube, Inc.

    1365 N. Courtenay Parkway, NE

    Merritt Island, FL 32953

The persons and addresses set forth above may be changed from time to time by a notice sent as aforesaid. If notice is given by personal delivery or overnight delivery in accordance with the provisions of this Section, such notice shall be conclusively deemed given at the time of such delivery provided a receipt is obtained from the recipient. If notice is given by mail, such notice shall be deemed given upon receipt and delivery or refusal.

6.6           ASSIGNMENT.  This Agreement shall inure to the benefit of, and be binding upon, the parties hereto and their successors and assigns; provided, however, that any assignment by either party of its rights under this Agreement without the written consent of the other party shall be void.

6.7           COUNTERPARTS.  This Agreement may be executed simultaneously in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.  Signatures sent by facsimile transmission shall be deemed to be evidence of the original execution thereof.

6.8           REVIEW OF AGREEMENT.  Each party acknowledges that it has had time to review this agreement and, as desired, consult with counsel.  In the interpretation of this Agreement, no adverse presumption shall be made against any party on the basis that it has prepared, or participated in the preparation of, this Agreement.

6.9           SCHEDULES.  All schedules attached hereto, if any, shall be acknowledged by each party by signature or initials thereon.

  

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     IN WITNESS WHEREOF, the parties have executed this Agreement effective on the date first written above.

Buyer:      ALLIANCE NETWORK COMMUNICATIONS HOLDINGS, INC.

BY:__________________________

 

                  NAME: _______________________

ITS: CEO

BIOCUBE, INC. 

BY:__________________________

                  NAME: Boris Rubizhevsky

ITS: CEO

Sellers:

_____________________________

Boris Rubizhevsky

_____________________________

For: Spring Creek Capital, Inc.

_____________________________

Jan Chason

_____________________________

For: FSR, Inc.

_____________________________

Dana L. Hipple

 

 

  

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SCHEDULE A

SHARES TO BE ISSUED

 

 

 

	 Shareholder:     	 Number of Shares:	 	 
	 Boris Rubizhevsky 	 6,000,000	 	 
	 Spring Creek Capital Corp.	 2,000,000	 	 
	 FSR, Inc.  	 250,000	 	 
	 Jan Chason 	 250,000	 	 
	 Dana L. Hipple 	  250,000	 	 
	 	 8,750,000	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 

 

 

 

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