Document:

EX-10.46

 Exhibit 10.46 
  

			
	

	  	CLIFFORD CHANCE LLP
		
		  	EXECUTION VERSION

  
 DATED 25 MARCH 2014 

AXALTA COATING SYSTEMS BELGIUM BVBA 

AS THE CHARGOR 
 IN FAVOUR OF 

BARCLAYS BANK PLC 
 AS THE
COLLATERAL AGENT 
  
  

SECURITY OVER SHARES AGREEMENT 
  

 

 CONTENTS 
  

							
	Clause	  	Page	 
			
	1.	 	Definitions and Interpretation	  	 	1	  
			
	2.	 	Covenant to Pay and Charge	  	 	4	  
			
	3.	 	Deposit of Certificates, Related Rights and Release	  	 	4	  
			
	4.	 	Voting Rights and Dividends	  	 	5	  
			
	5.	 	Pensions Representations and Undertakings	  	 	8	  
			
	6.	 	Further Assurance	  	 	9	  
			
	7.	 	Power of Attorney	  	 	10	  
			
	8.	 	Security Enforcement	  	 	10	  
			
	9.	 	Receivers and Administrators	  	 	12	  
			
	10.	 	Effectiveness of Collateral	  	 	14	  
			
	11.	 	Application of Proceeds	  	 	16	  
			
	12.	 	Other Security Interests	  	 	16	  
			
	13.	 	Assignment	  	 	16	  
			
	14.	 	Waivers and Counterparts	  	 	17	  
			
	15.	 	Law	  	 	17	  
			
	16.	 	Enforcement	  	 	17	  

 THIS AGREEMENT is made by way of deed on 25 March 2014 

BETWEEN 
  

	(1)	AXALTA COATING SYSTEMS BELGIUM BVBA a limited liability company incorporated under Belgian law with registered office at Antoon Spinoystraat 6B, 2800 Mechelen registered with the Crossroads Bank for Enterprises
(Kruispuntbank voor Ondernemingen) with enterprise number 0844.220.989, RPM/RPR Mechelen (the “Chargor”); and 

  

	(2)	BARCLAYS BANK PLC as collateral agent (in such capacity, together with any successor collateral agent appointed pursuant to the Credit Agreement referred to below, the “Collateral Agent”) for the
Secured Parties (as defined in the Credit Agreement referred to below). 

 RECITALS: 

 

	(A)	It is a condition of the Credit Agreement (as defined below) that security is given over the shares of Axalta Coating Systems U.K. (2) Limited (“Axalta 2”) as a new Subsidiary Guarantor under the
Credit Agreement. 

  

	(B)	It is intended by the parties to this Agreement that this document will take effect as a deed despite the fact that a party may only execute this Agreement under hand. 

 

	(C)	The Collateral Agent is acting under and holds the benefit of the rights conferred upon it in this Agreement on trust for the Secured Parties. 

IT IS AGREED as follows: 
  

	1.	DEFINITIONS AND INTERPRETATION 

  

	1.1	Definitions 

 In this Agreement: 

“Charged Portfolio” means the Shares and the Related Assets. 

“Collateral Rights” means all rights, powers and remedies of the Collateral Agent provided by or pursuant to this Agreement or
by law. 
 “Credit Agreement” means the credit agreement dated 1 February 2013 (as it may hereafter be amended, amended
and restated, supplemented, replaced, refinanced or otherwise modified from time to time (including any increases of the principal amount outstanding thereunder)) among Flash Dutch 2 B.V. and U.S. Coatings Acquisition Inc., as Borrowers, Flash Dutch
1 B.V., as Holdings, Coatings Co. U.S. Inc., as U.S. Holdings, Barclays Bank PLC, as administrative agent and collateral agent, and the other parties thereto. 

“Enforcement Event” means the exercise of any rights under Section 8.02 (Remedies Upon Event of Default) of the
Credit Agreement by the Administrative Agent (as defined in the Credit Agreement). 

  
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 “Intercreditor Agreement” has the meaning given to it in the Credit Agreement.

 “Pensions Notice” means a contribution notice or a financial support direction issued by the Pensions Regulator under the
Pensions Act 2004. 
 “Receiver” means a receiver or receiver and manager or administrative receiver of the whole or any
part of the Charged Portfolio. 
 “Related Assets” means all dividends, interest and other monies at any time payable at any
time in respect of the Shares and all other rights, benefits and proceeds in respect of or derived from the Shares (whether by way of redemption, bonus, preference, option, substitution, conversion, compensation or otherwise) held by, to the order
or on behalf of the Chargor at any time. 
 “Secured Obligations” means the collective Obligations of the Loan Parties now
or hereafter existing under the Loan Documents, any Secured Cash Management Agreement or any Secured Hedge Agreement (as such Loan Documents, Secured Cash Management Agreements and/or Secured Hedge Agreements may be amended, amended and restated,
supplemented, replaced, refinanced or otherwise modified from time to time (including any increases of the principal amount outstanding thereunder)), whether direct or indirect, absolute or contingent, and whether for principal, reimbursement
obligations, interest, fees, premiums, penalties, indemnifications, contract causes of action, costs, expenses or otherwise. 

“Security” means the security created under or pursuant to or evidenced by this Agreement. 

“Security Period” means the period beginning on the date of this Agreement and ending upon payment in full of all Secured
Obligations (other than (A) contingent indemnification obligations as to which no claim has been asserted and (B) obligations and liabilities under Secured Cash Management Agreements and Secured Hedge Agreements) and the expiration or
termination of all Letters of Credit (other than Letters of Credit which have been Cash Collateralized). 
 “Shares” means
all of the shares in the capital of Axalta Coating Systems U.K. (2) Limited, (registered in England and Wales with number 8813062) held by, to the order or on behalf of the Chargor at any time. 

“UK DB Plans” means (i) the HPG Pension Scheme governed by its Second Definitive Trust Deed and Rules dated 13 April
2011, (ii) the Du Pont (U.K.) Limited Pensions Fund governed by rules annexed to a Deed of Amendment dated 12 November 2008 and (iii) and any other relevant pension scheme to the benefit of Axalta 2 employees the existence and details of
which are notified in writing by Axalta 2 to the Collateral Agent. 
  

	1.2	Terms defined in the Credit Agreement 

 Unless defined in this Agreement, or the context
otherwise requires, a term defined in the Credit Agreement has the same meaning in this Agreement or any notice given under or in connection with this Agreement. 

  
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	1.3	Construction 

 In this Agreement or in any notice given under or in connection with this
Agreement: 
  

	 	(a)	any reference to the “Collateral Agent”, the “Secured Parties or a “Chargor” shall be construed so as to include its or their (and any subsequent) successors in title,
permitted assigns and permitted transferees in accordance with their respective interests and, in the case of the Collateral Agent, any person for the time being appointed as Collateral Agent in accordance with the Credit Agreement;

  

	 	(b)	“assets” includes present and future properties, revenues and rights of every description; 

  

	 	(c)	a “Loan Document” or any other agreement or instrument is a reference to that Loan Document or other agreement or instrument as amended, novated, supplemented, extended, replaced or restated;

  

	 	(d)	“indebtedness” includes any obligation (whether incurred as principal or as surety) for the payment or repayment of money, whether present or future, actual or contingent; 

 

	 	(e)	a “person” means any natural person, corporation, limited liability company, trust, joint venture, association, company, partnership, Governmental Authority or other entity; 

 

	 	(f)	a “regulation” includes any regulation, rule, official directive, request or guideline of any governmental, intergovernmental or supranational body, agency, department or of any regulatory,
self-regulatory or other authority or organisation; 

  

	 	(g)	a provision of law is a reference to that provision as amended or re-enacted; 

  

	 	(h)	a time of day is a reference to New York time; 

  

	 	(i)	references in this Agreement to any Clause or Schedule shall be to a clause or schedule contained in this Agreement; and 

  

	 	(j)	Clause and Schedule headings are for ease of reference only. 

  

	1.4	Currency Symbols and Definitions 

 “$” and “dollars”
denote the lawful currency of the United States of America. 
  

	1.5	Third party rights 

 A person who is not a Party has no right under the Contracts (Rights
of Third Parties) Act 1999 to enforce or to enjoy the benefit of any term of this Agreement. 

  
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	1.6	Accounts 

 In any litigation or arbitration proceedings arising out of or in connection
with the Loan Documents, the entries made in the accounts maintained by any Secured Party are prima facie evidence of the matters to which they relate. 
  

	1.7	Certificates and determinations 

 Any certification or determination by a Finance Party
of a rate or amount under this Agreement is, in the absence of manifest error, conclusive evidence of the matter to which it relates. 
  

	1.8	Incorporation of provisions from the Credit Agreement 

 Sections 3.01 (Taxes),
9.07 (Indemnification of Agents), 10.01 (Amendments, Etc.), 10.02 (Notices; Electronic Communications), 10.04 (Expenses and Taxes) 10.05 (Indemnification by the Borrowers), 10.09 (Setoff) and 10.24
(Judgment Currency) of the Credit Agreement are deemed to form part of this Agreement as if expressly incorporated into it and as if all references in those provisions to the Credit Agreement were references to this Agreement. 

 

	1.9	Intercreditor Agreement 

 Notwithstanding any provision to the contrary in this
Agreement, if any intercreditor agreement is entered into in accordance with Section 9.11 (Collateral and Guaranty Matters) of the Credit Agreement (including the Intercreditor Agreement), in the event of any conflict or inconsistency
between the provisions of such intercreditor agreement (including the Intercreditor Agreement) and this Agreement, the provisions of such intercreditor agreement (including the Intercreditor Agreement) shall prevail. 

 

	2.	COVENANT TO PAY AND CHARGE 

  

	2.1	Covenant to Pay 

 The Chargor covenants with the Collateral Agent that it shall, on
demand of the Collateral Agent pay, discharge and satisfy the Secured Obligations and indemnify the Collateral Agent and each of the Secured Parties against any losses, costs, charges, expenses and liabilities arising from any breach or failure to
pay, discharge and satisfy the Secured Obligations in accordance with their respective terms. 
  

	2.2	Charge 

 The Chargor charges the Charged Portfolio with full title guarantee and by way
of first fixed charge, in favour of the Collateral Agent, as continuing security for the payment and discharge of the Secured Obligations. 
  

	3.	DEPOSIT OF CERTIFICATES, RELATED RIGHTS AND RELEASE 

  

	3.1	Deposit of certificates 

 The Chargor will immediately upon the execution of this
Agreement (or upon coming into possession of the Chargor at any time) deposit with the Collateral Agent (or     

  
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procure the deposit of) all certificates and other documents of title to the Shares, and stock transfer forms (executed in blank by or on behalf of the Chargor) in respect of the Shares. 

 

	3.2	Related Assets 

 The Chargor shall, promptly upon the accrual, offer or issue of any
Related Assets (in the form of stocks, shares, warrants or other securities) in which the Chargor has a beneficial interest, procure the delivery to the Collateral Agent of (a) all certificates and other documents of title representing those
Related Assets and (b) such duly executed blank stock transfer forms or other instruments of transfer in respect of those Related Assets as the Collateral Agent may require. 

 

	3.3	Release 

 Upon the expiry of the Security Period, the Security granted by this Agreement
shall automatically terminate and all rights to the Charged Portfolio shall revert to the Chargor. The Collateral Agent shall, at the request and cost of the Chargor, execute and deliver such documents as the Chargor shall reasonably request to
evidence such termination without recourse to, or any representation or warranty by, the Collateral Agent or any of its nominees. 
  

	4.	VOTING RIGHTS AND DIVIDENDS 

  

	4.1	Dividends prior to an Enforcement Event 

 Prior to the occurrence of an Enforcement Event
and receiving notice from the Collateral Agent (unless such Enforcement Event has occurred as a result of an Event of Default pursuant to Section 8.01(f) (Insolvency Proceedings, Etc.) or Section 8.01(g) (Inability to Pay Debts;
Attachment) of the Credit Agreement, in which case no notice will be required) and following the cure or waiver of the relevant Enforcement Event, the Chargor shall be entitled to receive all dividends, interest and other monies or distributions
of an income nature arising from the Shares in accordance with the Credit Agreement. 
  

	4.2	Dividends after an Enforcement Event 

 Following an Enforcement Event and before the cure
or waiver of the relevant Enforcement Event, the Collateral Agent may, at its discretion and upon giving notice to the relevant Chargor (unless such Enforcement Event has occurred as a result of an Event of Default pursuant to Section 8.01(f)
(Insolvency Proceedings, Etc.) or Section 8.01(g) (Inability to Pay Debts; Attachment) of the Credit Agreement, in which case no notice will be required), in the name of the Chargor or otherwise and without any further consent or
authority from the Chargor, apply all dividends, interest and other monies arising from the Shares as though they were the proceeds of sale in accordance with Clause 11 (Application of Proceeds) or otherwise in accordance with the Credit
Agreement. 

  
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	4.3	Voting rights prior to Collateral Agent Notice 

 Prior to the giving of notice pursuant
to Clause 4.4 (Voting rights after Collateral Agent Notice) (and following the cure or waiver of the relevant Enforcement Event), the Chargor shall be entitled to exercise all voting rights in relation to the Shares. 

 

	4.4	Voting rights after Collateral Agent Notice 

 Subject to Clause 4.5 (Waiver of voting
rights by Collateral Agent), upon the occurrence of an Enforcement Event, the Collateral Agent may (but without having any obligation to do so) give notice to the Chargor that this Clause 4.4 will apply. With effect from the giving of that
notice the Collateral Agent may, at its discretion, in the name of the Chargor or otherwise and without any further consent or authority from the Chargor: 
  

	 	(a)	exercise (or refrain from exercising) any voting rights in respect of the Shares; and 

  

	 	(b)	exercise (or refrain from exercising) the powers and rights conferred on or exercisable by the legal or beneficial owner of the Shares including the right, in relation to any company whose shares or other securities are
included in the Shares, to concur or participate in: 

  

	 	(i)	the reconstruction, amalgamation, sale or other disposal of such company or any of its assets or undertaking (including the exchange, conversion or reissue of any shares or securities as a consequence thereof);

  

	 	(ii)	the release, modification or variation of any rights or liabilities attaching to such shares or securities; and 

  

	 	(iii)	the exercise, renunciation or assignment of any right to subscribe for any shares or securities, 

in each case in the manner and on the terms the Collateral Agent thinks fit, and the proceeds of any such action shall form part of the
Shares. 
  

	4.5	Waiver of voting rights by Collateral Agent 

  

	 	(a)	The Collateral Agent may, in its absolute discretion and without any consent or authority from the other Secured Parties or the Chargor, at any time, by notice to the Chargor (which notice shall be irrevocable) elect to
give up the right to exercise (or refrain from exercising) all voting rights and powers in respect of the Shares conferred or to be conferred on the Collateral Agent pursuant to Clause 4.4 (Voting rights after Collateral Agent Notice) and the
other Secured Parties unconditionally waive any rights they may otherwise have to require the Collateral Agent not to make such election or to require the Collateral Agent to indemnify, compensate or otherwise make good for any losses, costs or
liabilities incurred by any of them in relation to or as a consequence of the Collateral Agent making such election. 

  
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	 	(b)	Once a notice has been issued by the Collateral Agent under paragraph (a) of this Clause 4.5, on and from the date of such notice the Collateral Agent shall cease to have the rights to exercise or refrain from
exercising voting rights and powers in respect of the Shares conferred or to be conferred on it pursuant to Clause 4.4 (Voting rights after Collateral Agent Notice) or any other provision of this Agreement and all such rights will be
exercisable by the Chargor. The Chargor shall be entitled, on and from the date of such notice, to exercise all voting rights and powers in relation to the Shares. 

 

	4.6	Shares: Voting rights 

 Save as permitted by the Loan Documents, the Chargor shall not
exercise (and shall procure that any nominee acting on its behalf does not exercise) its voting rights in relation to the Shares in any manner, or otherwise permit or agree to or concur or participate in any: 

 

	 	(a)	variation of the rights attaching to or conferred by all or any part of the Shares; 

  

	 	(b)	increase in the issued share capital of any company whose shares are charged pursuant to this Agreement; 

  

	 	(c)	exercise, renunciation or assignment of any right to subscribe for any shares or securities; or 

  

	 	(d)	reconstruction, amalgamation, sale or other disposal of any company or any of the assets or undertaking of any company (including the exchange, conversion or reissue of any shares or securities as a consequence thereof)
whose shares are charged pursuant to this Agreement, which, in the opinion of the Collateral Agent, would prejudice the value of, or the ability of the Collateral Agent to realise, the Security created pursuant to this Agreement provided that
the proceeds of any such action shall form part of the Shares, 

 which would adversely affect the validity or
enforceability of the Security created by this Agreement or the value of the Charged Portfolio. 
  

	4.7	Shares: Payment of calls 

 The Chargor shall pay when due (taking any applicable grace
period into account) all calls or other payments which may be or become due in respect of any of the Shares, and in any case of default by it in such payment, the Collateral Agent may, if it thinks fit following an Enforcement Event, make such
payment on its behalf in which case any sums paid by the Collateral Agent shall be reimbursed by each relevant Chargor to the Collateral Agent on demand and shall carry interest from the date of payment by the Collateral Agent until reimbursed in
accordance with Section 2.08 (Interest) of the Credit Agreement. 

  
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	5.	PENSIONS REPRESENTATIONS AND UNDERTAKINGS 

  

	5.1	Representations 

 The Chargor makes the following representations and warranties to the
Collateral Agent and acknowledges that the Collateral Agent has become a party to this Agreement in reliance on these representations and warranties: 
  

	 	(a)	except in relation to the UK DB Plans, neither it nor any of its Subsidiaries is or has at any time been an employer (for the purposes of sections 38 to 51 of the Pensions Act 2004) of an occupational pension scheme
which is not a money purchase scheme (both terms as defined in the Pension Schemes Act 1993); 

  

	 	(b)	except in relation to the UK DB Plans, neither it nor any of its Subsidiaries is or has at any time in the last six (6) years been “connected” with or an “associate” of (as those terms are used
in sections 39 and 43 of the Pensions Act 2004) such an employer and 

  

	 	(c)	neither it nor any of its Subsidiaries has at any time been served with a Pensions Notice and is not aware of any action having been taken by the Pensions Regulator that is preparatory to the issue of a Pensions Notice
to it or any of its Subsidiaries. 

  

	5.2	Undertakings 

  

	 	(a)	The Chargor shall ensure that all pension schemes operated by or maintained for the benefit of it and its Subsidiaries and/or any of its employees are funded in accordance with Part 3 of the Pensions Act 2004 if
applicable and that no action or omission is taken by it or any of its Subsidiaries in relation to such a pension scheme which has or is reasonably likely to have a Material Adverse Effect (except in relation to the UK DB Plans, including, without
limitation, the termination or commencement of winding-up proceedings of any such pension scheme or the Chargor or any of its Subsidiaries ceasing to employ any member of such a pension scheme). 

 

	 	(b)	The Chargor shall ensure that, except in relation to the UK DB Plans, neither it nor any of its Subsidiaries is or has been at any time an employer (for the purposes of sections 38 to 51 of the Pensions Act 2004) of an
occupational pension scheme which is not a money purchase scheme (both terms as defined in the Pension Schemes Act 1993) or is or has at any time last six (6) years been “connected” with or an “associate” of (as those terms
are used in sections 38 or 43 of the Pensions Act 2004) such an employer. 

  

	 	(c)	The Chargor shall, if the Collateral Agent requests, deliver or procure the delivery to the Collateral Agent, of any actuarial reports in relation to all pension schemes mentioned in (a) above. 

 

	 	(d)	The Chargor shall promptly on becoming aware of the same, notify the Collateral Agent of any material change in the rate of contributions to any pension schemes mentioned in (a) above, paid or recommended to be
paid (whether by the scheme actuary or otherwise) or required by law or otherwise. 

  
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	 	(e)	The Chargor shall immediately on becoming aware of the same, notify the Collateral Agent of any investigation or proposed investigation by the Pensions Regulator which is reasonably likely to lead to the issue of a
Pensions Notice to it or one of its Subsidiaries. 

  

	 	(f)	The Chargor shall immediately notify the Collateral Agent if it or any of its Subsidiaries receives a Pensions Notice. 

  

	6.	FURTHER ASSURANCE 

  

	6.1	Covenant for Further Assurance 

 The Chargor will promptly at its own cost do all such
acts or execute all such documents (including assignments, transfers, mortgages, charges, notices and instructions) as the Collateral Agent may reasonably specify (and in such form as the Collateral Agent may reasonably require in favour of the
Collateral Agent or its nominee(s)): 
  

	 	(a)	to perfect the Security created or intended to be created in respect of the Charged Portfolio (which may include the execution by the Chargor of a mortgage, charge or assignment over all or any of the assets
constituting, or intended to constitute, the Charged Portfolio) or for the exercise of the Collateral Rights; 

  

	 	(b)	for the exercise of the rights, powers and remedies of the Collateral Agent provided by or pursuant to this Agreement or by law in each case in accordance with the rights vested in it under this Agreement.

  

	6.2	Prescribed Wording 

 The following covenants shall be implied in respect of any action
taken by the Chargor to comply with its obligations under Clause 6.1: 
  

	 	(a)	the Chargor has the right to take such action in respect of the Charged Portfolio; and 

  

	 	(b)	the Chargor will at its own cost do all that it reasonably can to give the Collateral Agent or its nominee the title and/or rights that it purports to give. 

  
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	7.	POWER OF ATTORNEY 

  

	7.1	Appointment and powers 

 The Chargor by way of security irrevocably appoints the
Collateral Agent and any Receiver severally to be its attorney and in its name, on its behalf and as its act and deed to execute, deliver and perfect all documents and do all things which the attorney may consider to be required or desirable for:

  

	 	(a)	carrying out any obligation imposed on the Chargor by this Agreement or any other agreement binding on the Chargor to which the Collateral Agent is a party (including the execution and delivery of any deeds, charges,
assignments or other security and any transfers of the Charged Portfolio); and 

  

	 	(b)	enabling the Collateral Agent to exercise, or delegate the exercise of, all or any of the Collateral Rights; 

  

	 	(c)	enabling any Receiver to exercise, or delegate the exercise of, any of the rights, powers and authorities conferred on them by or pursuant to this Agreement or by law, (including, after the occurrence of an Enforcement
Event, the exercise of any right of a legal or beneficial owner of the Charged Portfolio), 

 following the occurrence of an
Enforcement Event and having given notice to the Chargor provided that such notice shall be deemed to have been automatically given if an Event of Default pursuant to Section 8.01(f) or 8.01(g) of the Credit Agreement has occurred. 

 

	7.2	Ratification 

 The Chargor shall ratify and confirm all things done and all documents
executed by any attorney in the exercise or purported exercise of all or any of his powers. 
  

	8.	SECURITY ENFORCEMENT 

  

	8.1	Time for Enforcement 

 Any time after the occurrence of an Enforcement Event and upon the
Collateral Agent giving notice to the Chargor (unless the Enforcement Event was caused by an Event of Default pursuant to Section 8.01(f) (Insolvency Proceedings, Etc.) or Section 8.01(g) (Inability to Pay Debts; Attachment)
of the Credit Agreement, in which case no notice is required) the security created by or pursuant to this Agreement is immediately enforceable and the Collateral Agent may, without notice to the Chargor or prior authorisation from any court, in its
absolute discretion: 
  

	 	(a)	secure and perfect its title to all or any part of the Charged Portfolio (including transferring the Charged Portfolio into the name of the Collateral Agent or its nominees); 

 

	 	(b)	enforce all or any part of that Security (at the times, in the manner and on the terms it thinks fit and take possession of and hold or dispose of all or any part of the Charged Portfolio (at the times, in the manner
and on the terms it thinks commercially reasonable (including whether for cash or non-cash consideration)); and 

  

	 	(c)	whether or not it has appointed a Receiver, exercise all or any of the rights, powers, authorities and discretions conferred by the Law of Property Act 1925 (as varied or extended by this Agreement) on mortgagees and by
this Agreement on any Receiver or otherwise conferred by law on mortgagees or Receivers. 

  
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	8.2	Power of sale 

  

	 	(a)	The power of sale or other disposal conferred on the Collateral Agent and on the Receiver by this Agreement shall operate as a variation and extension of the statutory power of sale under Section 101 of the Law of
Property Act 1925 and such power shall arise (and the Secured Obligations shall be deemed due and payable for that purpose) on the date of this Agreement. 

  

	 	(b)	The restrictions contained in Sections 93 and 103 of the Law of Property Act 1925 shall not apply to this Agreement or to the exercise by the Collateral Agent of its right to consolidate all or any of the Security
created by or pursuant to this Agreement with any other security in existence at any time or to its power of sale, which powers may be exercised by the Collateral Agent without notice to the Chargor on or at any time after this Agreement has become
enforceable in accordance with Clause 8 (Security Enforcement). 

  

	8.3	Chargee’s liability 

 Neither the Collateral Agent nor any Receiver will be liable
to account as mortgagee or mortgagee in possession in respect of the Charged Portfolio or be liable for any loss upon realisation or for any neglect or default of any nature whatsoever in connection with the Charged Portfolio for which a mortgagee
or mortgagee in possession might as such be liable. 
  

	8.4	Right of Appropriation 

 To the extent that any of the Charged Portfolio constitutes
“financial collateral” and this Agreement and the obligations of the Chargor hereunder constitute a “security financial collateral arrangement” (in each case as defined in, and for the purposes of, the Financial Collateral
Arrangements (No. 2) Regulations 2003 (SI 2003 No. 3226), as amended, (the “Regulations”) the Collateral Agent shall have the right to appropriate all or any part of such financial collateral in or towards discharge of the
Secured Obligations and may exercise such right to appropriate upon giving written notice to the Chargor. For this purpose, the parties agree that the value of such financial collateral so appropriated shall be the market price of the Shares
determined by the Collateral Agent by reference to a public index or by such other process as the Collateral Agent may select, including independent valuation. The parties agree that the method of valuation provided for in this Agreement shall
constitute a commercially reasonable method of valuation for the purposes of the Regulations. 
  

	8.5	Statutory powers 

 The powers conferred by this Agreement on the Collateral Agent are in
addition to and not in substitution for the powers conferred on mortgagees and mortgagees in possession under the Law of Property Act 1925, the Insolvency Act 1986 or otherwise by law and in the case of any conflict between the powers contained in
any such Act and those conferred by this Agreement the terms of this Agreement will prevail. 

  
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	9.	RECEIVERS AND ADMINISTRATORS 

  

	9.1	Appointment and removal 

 After this Agreement becomes enforceable in accordance with
Clause 8 (Security Enforcement), the Collateral Agent may by deed or otherwise (acting through an authorised officer of the Collateral Agent): 
  

	 	(a)	without prior notice to the Chargor: 

  

	 	(i)	appoint one or more persons to be a Receiver of the whole or any part of the Charged Portfolio; 

  

	 	(ii)	appoint two or more Receivers of separate parts of the Charged Portfolio; or 

  

	 	(iii)	remove (so far as it is lawfully able) any Receiver so appointed; and 

  

	 	(iv)	appoint another person(s) as an additional or replacement Receiver(s). 

  

	 	(v)	appoint one or more persons to be an administrator of the Chargor pursuant to paragraph 14 of Schedule B1 of the Insolvency Act 1986; and 

 

	 	(b)	following notice to the Chargor, appoint one or more persons to be an administrator of the Chargor pursuant to paragraph 12 of Schedule B1 of the Insolvency Act 1986. 

 

	9.2	Capacity of Receivers 

 Each person appointed to be a Receiver pursuant to Clause 9.1
(Appointment and removal) will be: 
  

	 	(a)	entitled to act individually or together with any other person appointed or substituted as Receiver; 

  

	 	(b)	for all purposes deemed to be the agent of the Chargor which shall be solely responsible for his acts, defaults and liabilities and for the payment of his remuneration and no Receiver shall at any time act as agent for
the Collateral Agent; and 

  

	 	(c)	entitled to remuneration for his services at a rate to be fixed by the Collateral Agent from time to time (without being limited to the maximum rate specified by the Law of Property Act 1925). 

 

	9.3	Statutory powers of appointment 

 The powers of appointment of a Receiver shall be in
addition to all statutory and other powers of appointment of the Collateral Agent under the Law of Property Act 1925 (as extended by this Agreement) or otherwise and such powers shall remain exercisable from time to time by the Collateral Agent in
respect of any part of the Charged Portfolio. 

  
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	9.4	Powers of Receivers 

 Every Receiver shall (subject to any restrictions in the instrument
appointing him but notwithstanding any winding-up or dissolution of the Chargor) have and be entitled to exercise, in relation to the Charged Portfolio in respect of which he was appointed, and as varied and extended by the provisions of this
Agreement (in the name of or on behalf of the Chargor or in his own name and, in each case, at the cost of the Chargor): 
  

	 	(a)	all the powers conferred by the Law of Property Act 1925 on mortgagors and on mortgagees in possession and on receivers appointed under that Act; 

 

	 	(b)	all the powers of an administrative receiver set out in Schedule 1 to the Insolvency Act 1986 (whether or not the Receiver is an administrative receiver); 

 

	 	(c)	all the powers and rights of an absolute owner and power to do or omit to do anything which the Chargor itself could do or omit to do; 

 

	 	(d)	the power to delegate (either generally or specifically) the powers, authorities and discretions conferred on it by this Agreement or any of the Loan Documents (including the power of attorney) on such terms and
conditions as it shall see fit which delegation shall not preclude either the subsequent exercise any subsequent delegation or any revocation of such power, authority or discretion by the Receiver itself; and 

 

	 	(e)	the power to do all things (including bringing or defending proceedings in the name or on behalf of the Chargor) which seem to the Receiver to be incidental or conducive to: 

 

	 	(i)	any of the functions, powers, authorities or discretions conferred on or vested in him; 

  

	 	(ii)	the exercise of any rights, powers and remedies of the Collateral Agent provided by or pursuant to this Agreement or by law (including realisation of all or any part of the Charged Portfolio); or 

 

	 	(iii)	bringing to his hands any assets of the Chargor forming part of, or which when got in would be, Charged Portfolio. 

  

	9.5	Consideration 

 The receipt of the Collateral Agent or any Receiver shall be a conclusive
discharge to a purchaser and, in making any sale or disposal of any of the Charged Portfolio or making any acquisition, the Collateral Agent or any Receiver may do so for such consideration, in such manner and on such terms as it thinks fit. 

 

	9.6	Protection of purchasers 

 No purchaser or other person dealing with the Collateral Agent
or any Receiver shall be bound to inquire whether the right of the Collateral Agent or such Receiver to exercise any of its powers has arisen or become exercisable or be concerned with any propriety or regularity on the part of the Collateral Agent
or such Receiver in such dealings. 

  
 - 13 

	9.7	Discretions 

 Any liberty or power which may be exercised or any determination which may
be made under this Agreement by the Collateral Agent or any Receiver may, subject to the terms and conditions of the Credit Agreement and following an Enforcement Event which has not been cured or waived, be exercised or made in its absolute and
unfettered discretion without any obligation to give reasons. 
  

	10.	EFFECTIVENESS OF COLLATERAL 

  

	10.1	Collateral Cumulative 

 The collateral constituted by this Agreement and the Collateral
Rights shall be cumulative, in addition to and independent of every other security which the Collateral Agent or any other Secured Party may at any time hold for the Secured Obligations or any rights, powers and remedies provided by law. No prior
security held by the Collateral Agent or any other Secured Party over the whole or any part of the Charged Portfolio shall merge into the collateral constituted by this Agreement. 

 

	10.2	No Waiver 

 No failure on the part of the Collateral Agent to exercise, nor any delay on
its part in exercising, any Collateral Right, shall operate as a waiver of that Collateral Right or constitute an election to affirm this Agreement. No election to affirm this Agreement on the part of the Collateral Agent shall be effective unless
it is in writing. No single or partial exercise of any Collateral Right shall preclude any further or other exercise of that or any other Collateral Right. 
  

	10.3	Illegality, Invalidity, Unenforceability 

 If, at any time, any provision of this
Agreement is or becomes illegal, invalid or unenforceable in any respect under the law of any jurisdiction, neither the legality, validity or enforceability of the remaining provisions of this Agreement nor of such provision under the laws of any
other jurisdiction shall in any way be affected or impaired thereby and, if any part of the Security intended to be created by or pursuant to this Agreement is invalid, unenforceable or ineffective for any reason, that shall not affect or impair any
other part of the Security. 
  

	10.4	No liability 

 None of the Collateral Agent, its nominee(s) or any Receiver shall be
liable: 
  

	 	(a)	to account as a mortgagee or mortgagee in possession; or 

  

	 	(b)	for any loss arising by reason of taking any action permitted by this Agreement or any neglect or default in connection with the Charged Portfolio or taking possession of or realising all or any part of the Charged
Portfolio, except in the case of gross negligence or wilful default upon its part. 

  
 - 14 

	10.5	Implied Covenants for Title 

  

	 	(a)	The covenants set out in Sections 3(1), 3(2) and 6(2) of the Law of Property (Miscellaneous Provisions) Act 1994 will not extend to Clause 2.2 (Charge). 

 

	 	(b)	It shall be implied in respect of Clause 2.2 (Charge) that the Chargor is charging the Charged Portfolio free from all charges and encumbrances (whether monetary or not) and from all other rights exercisable by
third parties (including liabilities imposed and rights conferred by or under any enactment) other than any charges and encumbrances permitted by Section 7.01 (Liens) of the Credit Agreement. 

 

	10.6	Continuing security 

  

	 	(a)	The Security created by or pursuant to this Agreement shall remain in full force and effect as a continuing security for the Secured Obligations until the payment in full of the Secured Obligations (other than
(A) contingent indemnification obligations as to which no claim has been asserted and (B) obligations and liabilities under Secured Cash Management Agreements and Secured Hedge Agreements). 

 

	 	(b)	No part of the Security from time to time intended to be constituted by this Agreement will be considered satisfied or discharged by an intermediate payment, discharge or satisfaction of the whole or any part of the
Secured Obligations. 

  

	10.7	Immediate recourse 

 The Chargor waives any right it may have of first requiring the
Collateral Agent or a Secured Party to proceed against or enforce any other rights or Security or claim payment from any person before claiming from the Chargor under this Agreement. This waiver applies irrespective of any law or any provision of
this Agreement to the contrary. 
  

	10.8	Avoidance of Payments 

 Notwithstanding Clause 3.3 (Release) if any amount paid or
credited to it is capable of being avoided or reduced by virtue of any bankruptcy, insolvency, liquidation or similar laws the liability of the Chargor under this Agreement and the security constituted by this Agreement shall continue and that
amount shall not be considered to have been irrevocably paid. 
  

	10.9	No prejudice 

 The Security created by or pursuant to this Agreement and the Collateral
Rights, shall not be prejudiced by any unenforceability or invalidity of any other agreement or document or by any time or indulgence granted to the Chargor or any other person, or the Collateral Agent or any of the other Secured Parties or by any
variation of the terms of the trust upon which the Collateral Agent holds the Security or by any other thing which might otherwise prejudice that Security or any Collateral Right. 

  
 - 15 

	11.	APPLICATION OF PROCEEDS 

 All monies received or recovered and any non-cash recoveries
made or received by the Collateral Agent or any Receiver pursuant to this Agreement or the powers conferred by it shall (subject to the claims of any person having prior rights thereto and by way of variation of the provisions of the Law of Property
Act 1925) be applied in accordance with Section 8.04 (Application of Funds) of the Credit Agreement. 
  

	12.	OTHER SECURITY INTERESTS 

  

	12.1	Redemption or transfer 

 In the event of any action, proceeding or step being taken to
exercise any powers or remedies conferred by any prior ranking security in case of exercise by the Collateral Agent or any Receiver of any power of sale under this Agreement the Collateral Agent may redeem such prior security or procure the transfer
thereof to itself. 
  

	12.2	Accounts 

 The Collateral Agent may, at any time after the occurrence of an Enforcement
Event, settle and pass the accounts of the prior security and any accounts so settled and passed will be conclusive and binding on the Chargor. 
  

	12.3	Costs of redemption or transfer 

 All principal monies, interest, costs, charges and
expenses of and incidental to any redemption or transfer will be paid by the Chargor to the Collateral Agent on demand together with accrued interest thereon (after as well as before judgment) at the rate from time to time applicable to unpaid sums
specified in the Credit Agreement from the time or respective times of the same having been paid or incurred until payment thereof (after as well as before judgment). 
  

	12.4	Subsequent Interests 

 If the Collateral Agent at any time receives notice of any
subsequent mortgage, assignment, charge or other interest affecting all or any part of the Charged Portfolio, all payments made by the Chargor to the Collateral Agent or any of the Secured Parties after that time shall be treated as having been
credited to a new account of the Chargor and not as having been applied in reduction of the Secured Obligations as at the time when the Collateral Agent received notice. 
  

	13.	ASSIGNMENT 

  

	13.1	No assignments or transfers by Chargor 

 The Chargor may not assign any of its rights or
transfer any of its rights or obligations under this Agreement other than as permitted under the Credit Agreement. 
  

	13.2	Assignments and transfers by the Collateral Agent 

 The Collateral Agent may assign and
transfer all or any of its rights and obligations under this Agreement subject to Section 10.07 (Successors and Assigns) of the Credit 

  
 - 16 

 
Agreement. The Collateral Agent shall be entitled to disclose such information concerning the Chargor and this Agreement as the Collateral Agent considers appropriate to any actual or proposed
direct or indirect successor or to any person to whom information may be required to be disclosed by any applicable law in accordance with Section 10.08 (Confidentiality) of the Credit Agreement. 

 

	14.	WAIVERS AND COUNTERPARTS 

  

	14.1	Waivers 

 No waiver by the Collateral Agent of any of its rights under this Agreement
shall be effective unless given in writing. 
  

	14.2	Counterparts 

 This Agreement may be executed in any number of counterparts, and this has
the same effect as if the signatures on the counterparts were on a single copy of this Agreement. 
  

	15.	LAW 

 This Agreement and any non-contractual obligations arising out of or in connection
with it are governed by English law. 
  

	16.	ENFORCEMENT 

  

	16.1	Jurisdiction of English Courts 

  

	 	(a)	The courts of England have exclusive jurisdiction to settle any dispute arising out of or in connection with this Agreement (including a dispute relating to the existence, validity or termination of this Agreement or
the consequences of its nullity) or any non-contractual obligations arising out of or in connection with this Agreement (a “Dispute”). 

  

	 	(b)	The parties agree that the courts of England are the most appropriate and convenient courts to settle disputes and accordingly no party will argue to the contrary. 

 

	16.2	Service of process 

 The Chargor agrees that the documents which start any proceedings
before the English courts in relation to the Secured Notes, the Secured Notes Indenture or any Notes Security Agreement, and any other documents required to be served in connection with those proceedings, may be served on it by being delivered to
Axalta Coating Systems U.K. (2), Unit 1, Quadrant Park, Mundells, Welwyn Garden City, Hertfordshire, England AL7 1FS, or to such other address in England and Wales as the Chargor may specify by notice in writing to the Notes Collateral Agent.
Nothing in this paragraph shall affect the right of any Secured Party to serve process in any other manner permitted by law. This Clause applies to proceedings in England and proceedings elsewhere. 

  
 - 17 

 THIS AGREEMENT has been signed on behalf of the Collateral Agent and executed as a deed by the Chargor and
is delivered by it on the date specified above. 
 This Agreement was executed outside Belgium. 

  
 - 18 

 EXECUTION PAGE 
  

					
	Chargor	  		  	
			
	EXECUTED AS A DEED on behalf of	  	)	  	
	AXALTA COATING SYSTEMS	  	)	  	
	BELGIUM BVBA	  	)	  	
	a company incorporated in Belgium	  	)	  	
	duly represented by	  	)	  	
		  	)	  	
	Name:  Johnannes Mendel	  	)	  	/s/ Johnannes Mendel
	Title:    Managing Director	  	)	  	
		  	)	  	
	Name:  Lucas van den Hemel	  	)	  	/s/ Lucas van den Hemel
	Title:    Managing Director	  	)	  	
	in the presence of:	  	)	  	
		  	)	  	
	being persons who, in accordance with the	  	)	  	
	laws of Belgium are acting under the	  	)	  	
	authority of the company	  	)	  	

  
 - 19 

					
	The Collateral Agent	  		  	
			
	Signed by BARCLAYS BANK PLC	  	)	  	
	for and on its behalf by	  	)	  	
	its duly authorised officer	  	)	  	
		  	)	  	
	 /s/ Vanessa A. Kurbatskiy
	  	)	  	
		  	)	  	
	Name:  Vanessa A. Kurbatskiy	  	)	  	
	Title:    Vice President	  	)	  	

  
 - 20Exhibit 10.11

COLLABRIA LLC

SOFTWARE LICENSE AGREEMENT

 

This Software as a Service License Agreement (“Agreement”) between Collabria LLC (“Collabria”) and Cleartronic, Inc., Inc. (“CLRI”), entered into as of the Effective Date identified in Schedule A, governs CLRI’s licensed rights to use, reproduce, market and license access to COLLABRIA’s ReadyOP software as a service (the “Service”) and related products and documentation proprietary to COLLABRIA, and consists of the following:

This Signature Page

Schedule A – Scope, General Terms and License Fees

Schedule B – Territory

Schedule C – Standard Terms and Conditions

Appendix I to Schedule C – ReadyOp License Agreement

Appendix II to Schedule C – End User License Agreement

Schedule D – Consideration for Licensed Products and Schedule of Royalty Fees

Schedule E – Licensed Marks

Schedule F – CLRI Administrative & Billing Contact

  		
	1.

    COLLABRIA Address and Contact:

    Collabria LLC

    Attn: Marc Moore

    1211 North Westshore

    Suite 401

    Tampa, FL 33607

    Tel.: +1 (813) 289-7620

    Fax: +1 813 

    	1.

    CLRI Address and Contact:

    Cleartronic, Inc.

    Attn:  Larry M. Reid

    8000 N Federal Hwy

    Suite 100

    Boca Raton, FL 33487

    Tel.: 561-939-3300

    Fax: 561-953-5073

    

By signing below, the parties acknowledge that they agree with the terms and conditions of this Agreement, and each signatory represents and certifies that he is authorized to sign on behalf of his respective party and bind it to all of the terms and conditions of this Agreement:

  		
	Collabria LLC

    

    

    By:  /s/ Marc Moore

     

    Printed Name: Marc Moore

     

    Title:  CEO

     

    Date:  8/15/15

    	Cleartronic, Inc.

    

    

    By:  /s/ Larry M. Reid

     

    Printed Name:  Larry M. Reid

     

    Title: President & CEO

     

    Date:  8/15/15

    

-1-

COLLABRIA LLC

SOFTWARE LICENSE AGREEMENT

SCHEDULE A

  SCOPE, GENERAL TERMS AND LICENSE FEES

 

1. EFFECTIVE DATE

August 15, 2014

2. LICENSED PRODUCT(S)

The Licensed Product(s) are identified in Schedule D.

3. LICENSED MARKS

The Licensed Marks are identified in Schedule E.

4. TERRITORY

The Territory of applicability for this Agreement is identified in Schedule B.

5. LICENSE TERM

The initial term of this Agreement is five years from the Effective Date, subject to terms governing termination and renewal as set forth in Schedule C.

6. LICENSE FEES 

The License Fees are set forth in Schedule D.

-2-

 

COLLABRIA LLC

SOFTWARE LICENSE AGREEMENT

SCHEDULE B

  TERRITORY

1. MARKETS

CLRI is authorized to sell the Service into the following markets and market segments:

Small, Medium & Large Business 

Small, Medium & Large Municipalities 

Small, Medium & Large Government Agencies

2. GEOGRAPHY

 

2.1  Authorized Geographic Areas.  CLRI is authorized to sell the Service into the following geographic areas:

Worldwide

2.2  Limitations.  Based on the limited laws to adequately protect the intellectual property of COLLABRIA Products, CLRI will distribute Licensed Products in accordance with the restrictions imposed by the Bureau of Industry and Security (BIS) of the U.S. Dept. of Commerce (www.bxa.doc.gov).  Additionally, CLRI agrees to not market, sell or otherwise introduce COLLABRIA Products in any country outside of the United States without first receiving specific written approval for each country on a by-country basis from an authorized corporate officer of COLLABRIA.

This schedule may be modified per agreement of both parties.

-3-

COLLABRIA LLC

SOFTWARE LICENSE AGREEMENT

SCHEDULE C

  STANDARD TERMS AND CONDITIONS

The following standard terms and conditions apply:

1 DEFINITIONS.  For purposes of this Agreement, the following definitions apply to the respective terms:

1.1 “Agreement” means this Agreement, consisting of the Signature Page, Schedules A through F, Appendix I to Schedule C, and any additional documents attached and initialed by the parties.

1.2 The terms “buy”, “purchase”, “sale”, “sell” and other similar terms, when used in connection with the license of access to the Licensed Product(s) shall mean the granting of a license or sublicense and shall not be deemed for any purpose to mean a transfer of title or other rights of ownership in the Licensed Product(s), other than the rights specifically set out in this Agreement or in applicable End User License Agreements.

1.3 “Confidential Information” means all business, marketing and technical information of each party considered by each to be trade secrets or otherwise valuable proprietary information, designated or marked as such by either party, or orally disclosed by one party to the other party as proprietary and followed by a written notice of such designation within thirty (30) days of the oral disclosure indicating the information was confidential.  Confidential Information shall not include information that (i) is now or later becomes publicly known (other than as a result of a breach of this Agreement); (ii) is independently developed by the receiving party; (iii) the receiving party lawfully obtains from any third party without restrictions on use or disclosure; or (iv) is required to be disclosed pursuant to court order or operation of law.

1.4 “Derivative Works” means a revision, modification, translation, abridgment, condensation or expansion of the Software or Documentation or any form in which the Software or Documentation may be recast, transferred, or adapted, which, if prepared without COLLABRIA’s consent, would be a copyright infringement.

1.5 “Documentation” means those software user manuals, reference manuals and installation guides, or portions thereof (if any), which are distributed in conjunction with the Software, identified in Schedule D.

1.6 “End User” means a person or entity that subscribes to the Service for Internal Use.

1.7 “End User License Agreement” means the agreement between COLLABRIA and an End User to subscribe to the Service, a form of which is attached hereto as Appendix I.

1.8 “COLLABRIA Intellectual Property” means the Licensed Product(s), the Marks and any intellectual property right associated therewith.

1.9 “Internal Use” means use for purposes that do not directly produce revenue for the user.

1.10 “Licensed Product(s)” means the Software and Documentation identified in Schedule D.  COLLABRIA reserves the right at any time to make changes to any Licensed Product(s), including without limitation changes required (i) for security or (ii) to facilitate performance.

1.11 “Marks” means the COLLABRIA trademarks, trade names, service marks, logos, designs and insignias, as well as any third-party marks licensed to COLLABRIA that COLLABRIA has a right to sublicense, as identified in Schedule E.

-4-

COLLABRIA LLC

SOFTWARE LICENSE AGREEMENT

1.12 “Software” means the software developed and maintained by COLLABRIA which makes available the Licensed Product(s) solely for access and use by End Users. 

1.13 “Territory” means the market and geographical restrictions set forth in Schedule B.

1.14 “Software” means the computer programs, including (binary) object code, identified in Schedule D.

1.15 Licensed Product(s).  COLLABRIA hereby grants to CLRI a nonexclusive and nontransferable right and license to (i) market and license access to the Licensed Product(s) within the Territory directly to End Users solely as a part of the Service offering.  CLRI shall have no rights to use, copy, market, distribute, sublicense or sell the Licensed Product(s) other than in connection with the Software, either on a stand-alone basis or bundled with or embedded in any other product.  CLRI may not sublicense the Licensed Products to any third party who intends to offer the Licensed Products as software to End Users. 

1.16 Trademarks.  COLLABRIA hereby grants to CLRI the nonexclusive and nontransferable right and license to use and display the Marks solely in connection with and only to the extent reasonably necessary for the marketing, license of access to and support of the Service during the term of this Agreement, provided that any such use and display shall comply with COLLABRIA’s then current trademark usage policies identified in Schedule E.  

1.17 Third-Party License.  If all or any part of the Licensed Product(s) delivered to CLRI has been licensed to COLLABRIA by a third-party software supplier, then CLRI is granted a sublicense to the third-party software subject to the same terms and conditions as those contained in the agreement between COLLABRIA and such third-party software supplier.  

1.18 Product Modification.  CLRI shall have no rights directly or indirectly to (i) decompile, reverse engineer, disassemble, modify or perform any similar type of operation on the Licensed Product(s), or any portion thereof, or (ii) prepare any other form of Derivative Works.  CLRI hereby irrevocably assigns to COLLABRIA all right, title, and interest in and to all Derivative Works, whether or not authorized by COLLABRIA.

1.19 Limitations.  Notwithstanding any of the foregoing, CLRI is prohibited from marketing and licensing access to the Service in any country where the proprietary rights of CLRI and its third-party licensors in the Licensed Product(s) would not be recognized or would not be protected under the laws of such country.  The list of countries where such distribution is prohibited is included in Schedule B.

1.20 Reservation of Rights.  COLLABRIA reserves all rights not expressly granted under this Agreement, including, but not limited to, the rights to market, sublicense, sell and distribute the Licensed Product(s) to application service providers and End Users directly or indirectly through its distribution channels.  Without limiting the generality of the foregoing, CLRI shall have no right to license access to the Licensed Product(s) except to End Users for Internal Use in connection with the Software as expressly set forth herein.

2

PRICING, PAYMENT, REPORTS AND RECORDS

 2.1Pricing and License Fees.  CLRI shall pay to COLLABRIA the License Fees set out in Schedule D as required therein, exclusive of all applicable taxes. 

2.2 Taxes.  CLRI agrees to pay all taxes associated with the marketing and licensing of access to the Software, including but not limited to sales, use, excise, added value and similar taxes and all customs, duties or governmental impositions, but excluding taxes on COLLABRIA’s net income.  

-5-

COLLABRIA LLC

SOFTWARE LICENSE AGREEMENT

 

2.3  Any tax or duty COLLABRIA may be required to collect or pay upon the marketing or licensing of access to the Service shall be paid by CLRI, and such sums shall be due and payable to CLRI.upon delivery.  If CLRI claims a tax exemption, CLRI must provide COLLABRIA with valid tax exemption certificates.

2.4 Payment and Reporting.  CLRI is required to submit to COLLABRIA a monthly sales report no later than fifteen days after the last day of the previous calendar month together with payment for the amounts due COLLABRIA. The report will detail (i) the customer, (ii) the quantity and retail price of Licensed Products (as described in Schedule D) that are subscribed to by said customer, (iii) the calculation of fees, costs, and any other amounts payable by End Users with respect to each subscription, and (v) the total amounts due to COLLABRIA based on said report.  CLRI agrees to make available other information that may be requested by COLLABRIA.

 2.5 Interest.  Interest shall accrue on any unpaid payment or payment balance at an annual rate of 1.5% per month, or, if lower, at the highest lawful rate, calculated from the date the payment is due to the date it is received by COLLABRIA.

 2.6 Record Keeping.  CLRI shall at all times maintain accurate and current written records of CLRI’s marketing and licensing activities related to the Service, including, but not limited to, subscription figures, end-user feedback, and any other information as to which record keeping may be requested by COLLABRIA after the date hereof.  The records shall be adequate to determine CLRI’s compliance with this Agreement and the sums due to COLLABRIA.  The records shall conform in accordance with good data processing practice commonly accepted in the industry.

2.7 Records Examinations.  CLRI agrees to allow COLLABRIA to examine CLRI’s records to monitor CLRI’s compliance with this Agreement.  Any examination will be conducted only by an authorized representative of COLLABRIA, and will occur during regular business hours at CLRI’s offices and will not interfere unreasonably with CLRI’s business activities.  Examinations will be made no more frequently than quarterly, and COLLABRIA will give CLRI no less than fifteen (15) business days prior written notice of the date of the examination and the name of the COLLABRIA authorized representative who will be conducting the examination (“Examiner”).  The audit will be conducted at COLLABRIA’ expense unless the results of such audit establish that inaccuracies in the monthly reports have resulted in underpayment to COLLABRIA of more than 10% of the amount due in any month, in which case CLRI shall bear the expenses of the audit.  Examiner’s activities shall be subject to a non-disclosure agreement between Examiner and CLRI.  Examiner will give CLRI and COLLABRIA an examination report containing only the information necessary to indicate compliance or non-compliance with this Agreement.

3 INTELLECTUAL PROPERTY RIGHTS

3.1 Acknowledgment of COLLABRIA’s Rights.  For purposes of this Agreement, and with the exception only of those elements (if any) of the Licensed Product(s) that COLLABRIA specifically identifies and designates as third-party software, CLRI acknowledges and confirms COLLABRIA’s exclusive worldwide rights in, and the validity of, the COLLABRIA Intellectual Property.  CLRI agrees not to challenge or otherwise to interfere with COLLABRIA’s use and ownership of the COLLABRIA Intellectual Property.  CLRI agrees not to use, employ or attempt to register any trademarks, trade names, service marks, logos, designs or insignias that are similar to, or likely to be confusing with, the Marks.  Title to the Licensed Product(s) is vested and shall remain in COLLABRIA, or, as applicable, in such third party from whom COLLABRIA holds rights of license and distribution, and title does not pass with any license under this Agreement.

3.2 End User License Agreements.  CLRI agrees to exercise commercially reasonable efforts to ensure that each End User understands, and agrees to be bound by, an appropriate End User License Agreement that is no less restrictive in its application to the Service and the Licensed Product(s) than the then-current form of COLLABRIA’s End User License Agreement, the most current version of which is attached as Appendix I hereto. 

-6-

COLLABRIA LLC

SOFTWARE LICENSE AGREEMENT

3.3 CLRI’s Waiver of Rights.  CLRI further acknowledges that it has no rights of any kind anywhere in the world in any COLLABRIA Intellectual Property other than those limited rights granted by this Agreement.  Accordingly, CLRI waives (a) all claims of any right by CLRI in any COLLABRIA Intellectual Property and (b) the right, if any, to file or own in its own name or in that of any designee, any application for registration of any trademark, copyright, patent, industrial design, trade secret or other intellectual property which forms part of any COLLABRIA Intellectual Property, or to own any registration or patent resulting therefrom.  In the event CLRI, in any jurisdiction of the world, files such an application or obtains such a patent or registration in violation of this provision, such application, registration or patent shall be deemed held in trust by CLRI for COLLABRIA and shall be assigned by CLRI to COLLABRIA without conditions and upon demand by COLLABRIA.

3.4 Preservation and Security of Proprietary Information.  CLRI shall not sell, assign, lease, license, transfer or otherwise disclose the Licensed Product(s) except as expressly authorized by this Agreement.  CLRI shall safeguard the Service and any and all copies of the Licensed Product(s) against unauthorized disclosure, reproduction or tampering, and shall assist COLLABRIA in the enforcement of COLLABRIA’s rights in the event of unauthorized disclosure by any person under CLRI’s control or service.  CLRI shall also ensure that COLLABRIA’s copyright, trademark and patent notices, which may from time to time be updated, are prominently displayed in the Service and on all copies of the Licensed Product(s) and all documentation containing or regarding the Service or the Licensed Product(s).  CLRI shall not remove or obscure any copyright, trademark, patent or other proprietary rights notice already present on any of the Licensed Product(s) or Documentation.  The notice of COLLABRIA’s intellectual property rights contained in the Service and in each Licensed Product shall read as follows: “Licensed Software, Copyright © 2014 Collabria LLC, all rights reserved.”

 3.5 Right to Inspect Materials Incorporating the Marks.  At COLLABRIA’s request, CLRI shall provide COLLABRIA with samples of all materials, whether electronic, physical or otherwise, used by CLRI that contain and/or incorporate the Marks.

3.6 Goodwill.  To protect and preserve the reputation and goodwill of COLLABRIA and of the Licensed Product(s), CLRI shall (1) avoid deceptive, misleading or unethical practices that are or might be detrimental to COLLABRIA, the Licensed Product(s), the Service or the public, including any disparagement of COLLABRIA, the Licensed Product(s) or the Service; (2) make no false or misleading representations with regard to COLLABRIA, the Licensed Product(s) or the Service; (3) refrain from publishing or employing any misleading or deceptive advertising material reflecting upon COLLABRIA, the Licensed Product(s) or the Service; and (4) refrain from making any representations, warranties or guarantees with respect to the specifications, features or capabilities of the Service or the Software that are inconsistent with the Documentation and marketing literature distributed by COLLABRIA, including all warranties and disclaimers contained in such literature.

3.7
In the event that COLLABRIA is required by a third-party software supplier to cease and to cause its licensees to cease use, reproduction and distribution of a particular version of the Licensed Product(s), CLRI agrees to comply accordingly. 

 

4.CONFIDENTIAL INFORMATION.  CLRI shall not use or disclose any Confidential Information supplied by COLLABRIA relating to the Licensed Product(s) except as authorized in writing by COLLABRIA in advance of such disclosure and shall safeguard all Confidential Information provided by COLLABRIA to CLRI under this Agreement in the same or more restrictive manner as CLRI safeguards its own Confidential Information.  In the event CLRI is required to disclose COLLABRIA’s Confidential Information pursuant to a valid order by a court or other governmental body or as otherwise required by law, prior to any such compelled disclosure, CLRI will (i) notify COLLABRIA of the legal process, and allow COLLABRIA to assert the privileged and confidential nature of the Confidential Information against the third party seeking disclosure, and (ii) cooperate fully with COLLABRIA in protecting against any such disclosure and/or obtaining a protective order narrowing the scope of such disclosure and/or use of the Confidential Information.  

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5. In the event that such protection  against disclosure is not obtained, CLRI will be entitled to disclose the Confidential Information, but only to the extent necessary to legally comply with such compelled disclosure.

6. LIMITED WARRANTIES.  COLLABRIA provides, to End Users only, the express warranties contained in the applicable End User License Agreement accompanying the Service.  CLRI is responsible for providing a copy of the applicable End User License Agreement to End Users for their review and acknowledgement before such End Users first access the Service.  COLLABRIA does not warrant non-COLLABRIA products, which are provided by COLLABRIA on an “AS IS” basis.  Any warranty service for non-COLLABRIA products will be provided by the manufacturer of the products in accordance with the applicable manufacturer’s warranty.

EXCEPT AS SET FORTH IN THIS SECTION 6, COLLABRIA

EXPRESSLY DISCLAIMS ALL WARRANTIES, EXPRESS OR IMPLIED, INCLUDING, WITHOUT LIMITATION, ANY WARRANTIES AS TO SUITABILITY OR MERCHANTABILITY OR FITNESS FOR ANY PARTICULAR PURPOSE, AND IMPLIED WARRANTIES ARISING FROM COURSE OF DEALING OR COURSE OF PERFORMANCE.

7 INDEMNIFICATION

7.1 By COLLABRIA.

7.1.1 Indemnification Obligations.  Subject to the terms and conditions of this Agreement, COLLABRIA agrees to defend, indemnify and hold CLRI harmless from damages, liabilities, costs and expenses resulting from any and all legal actions brought against CLRI by a third party charging or alleging that a Licensed Product or Mark infringes any United States patent, copyright or trademark; provided that:  (a) CLRI gives COLLABRIA prompt written notice of any such legal action; (b) COLLABRIA is given immediate and complete control over the defense and/or settlement of any such legal action; and (c) CLRI fully cooperates with COLLABRIA in the defense of any such legal action and all related settlement negotiations.  CLRI shall permit COLLABRIA, at COLLABRIA’s sole discretion, to either (a) replace or modify any Licensed Product(s) or Marks affected so as to avoid infringement; or (b) procure the right, at COLLABRIA’s expense, for CLRI to use and market the Licensed Product(s) or Marks.

7.1.2 Exceptions.  Notwithstanding anything contained in this Agreement to the contrary, COLLABRIA shall have no liability and no obligations for any infringement based on: (a) use, sale or distribution of other than the two latest releases of the Licensed Product(s); (b) modification of the Licensed Product(s) by any party other than COLLABRIA; (c) the combination or use of the Licensed Product(s) with any other computer program, equipment, product, device, item or process not furnished by COLLABRIA, if such infringement would have been avoided by the use of the Licensed Product(s) alone and in their current unmodified form; (d) other acts of COLLABRIA which give rise to such claim and are beyond COLLABRIA’s direct control;  (e) a legal action brought by a third party who is an affiliate of CLRI; or (f) any infringement that is known or suspected by the CLRI as of the date CLRI orders the Licensed Product(s) from COLLABRIA.

 7.1.3Limitation.  COLLABRIA’s total obligation to CLRI under this Section 6.1 regarding any and all infringement legal actions shall not exceed the amount paid by CLRI to COLLABRIA during the previous twelve (12) months for the Licensed Product(s) giving rise to such claims.

THE ABOVE STATES THE ENTIRE LIABILITY OF COLLABRIA WITH RESPECT TO INFRINGEMENT OF PATENTS, COPYRIGHTS, TRADEMARKS OR ANY OTHER FORM OF INTELLECTUAL PROPERTY RIGHT BY ANY PRODUCT SUPPLIED BY COLLABRIA.

 7.2 By CLRI.  CLRI agrees to defend, indemnify and hold COLLABRIA and its officers, directors, shareholders, employees and agents harmless from damages, liabilities, costs and expenses resulting from any and all legal actions brought against COLLABRIA by a third party arising or resulting from, or related to, activities by CLRI under this Agreement or otherwise respecting the Licensed Product(s) or Marks, including but not limited to:  (i) CLRI’s use, marketing or license of access to the Service, Licensed Product(s) or Marks; (ii) any unauthorized representation, warranty or agreement, express or implied, made by CLRI with respect to the Service or Licensed Product(s); or (iii) any violation of laws or regulations, including export and import control laws and regulations, relating to the marketing or license of access to the Service or Licensed Product(s), provided that:  (a) COLLABRIA gives CLRI prompt written notice of any such legal action; (b) CLRI is given immediate and complete control over the defense and/or settlement of any such legal action; and (c) COLLABRIA fully cooperates with CLRI in the defense of any such legal action and all related settlement negotiations.

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7.3 General Condition to Indemnity Rights.  If an indemnified party herein desires to have separate legal counsel in any such action, such party shall be responsible for the costs and fees associated therewith.

8 LIMITATION OF LIABILITY.  SUBJECT TO SECTION 6 ABOVE, IN NO EVENT SHALL COLLABRIA BE LIABLE FOR ANY COSTS, LOSS, DAMAGES OR LOST OPPORTUNITY OF ANY TYPE WHATSOEVER, INCLUDING, BUT NOT LIMITED TO, LOST OR ANTICIPATED PROFITS, LOSS OF USE, LOSS OF DATA, OR ANY INCIDENTAL, EXEMPLARY, SPECIAL OR CONSEQUENTIAL DAMAGES, WHETHER UNDER CONTRACT, TORT, WARRANTY OR OTHERWISE, ARISING IN ANY WAY OUT OF THIS AGREEMENT OR ANY OTHER RELATED AGREEMENT, REGARDLESS OF WHETHER COLLABRIA WAS ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.

COLLABRIA’s liability for direct damages for any cause whatsoever, and regardless of the form of action, shall not exceed the amount received by COLLABRIA from CLRI during the previous twelve (12) months for the Licensed Product(s) giving rise to such claim..

9 TERM AND TERMINATION

 9.1Term and Extensions.  The initial term hereof shall be set forth in Schedule A.  Unless earlier terminated for breach as provided herein, or unless either party notifies the other in writing, not later than three (3) calendar months prior to expiration of the initial term, of its intention to terminate the Agreement upon said expiration, this Agreement shall automatically renew at the end of the initial term for successive twelve (12) month terms.  Either party may notify the other in writing of its intention to terminate this Agreement not later than three (3) calendar months prior to the expiration of any successive term.

9.2 Termination for Cause.  Either party may terminate this Agreement upon the breach by the other party of a material term hereof.  The terminating party will first give the other party written notice of the breach and sixty (60) calendar days in which to cure the alleged breach.  If a cure is not achieved during the cure period, then the non-breaching party may terminate this Agreement upon written notice.

9.3 Termination by COLLABRIA.  Notwithstanding Section 9.1 hereof, COLLABRIA may terminate this Agreement if CLRI fails to meet its payment obligations under this Agreement and this failure continues for thirty (30) calendar days following receipt of written notice and demand from CLRI.

9.4 Insolvency, Assignment, or Bankruptcy.  Either party may, at its option, immediately terminate this Agreement upon written notice to the other party if the other party (i) admits in writing its inability to pay its debts generally as they become due; (ii) makes a general assignment for the benefit of creditors; (iii) institutes proceedings to be adjudicated a voluntary bankrupt, or consents to the filing of a petition of bankruptcy against it; (iv) is adjudicated by a court of competent jurisdiction as being bankrupt or insolvent; (v) seeks reorganization under any bankruptcy act or consents to the filing of a petition seeking such reorganization; or (vi) is the subject of a decree by a court of competent jurisdiction appointing a receiver, liquidator, trustee or assignee in bankruptcy or in insolvency covering all or substantially all of such party’s property or providing for the liquidation of such party’s property or business affairs.

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9.5 Acceleration of Payment.  Upon termination of this Agreement by COLLABRIA under Section 9.1, 9,2, or 9.3 hereof, the due dates of all outstanding invoices to CLRI for Licensed Product(s) will automatically be accelerated so that they become due and payable on the effective date of termination, even if different terms had been previously granted or allowed.

9.6 Effect of Termination on Obligations.  Provided that CLRI fulfills its obligations specified in this Agreement with respect to such items, CLRI may continue to use and retain copies of the Licensed Product(s) to support and maintain the Service to the extent rightfully provided to End Users, directly or indirectly, by CLRI prior to termination of this Agreement for the duration of any End User Service subscriptions then in effect, provided, however, that COLLABRIA shall have received payment of License Fees and other fees owing from CLRI therefor.

 9.7Survival of Terms.  Termination of this Agreement shall not relieve either party of any obligations arising under this Agreement prior to the date of termination.  Any provisions of this Agreement that by their nature extend beyond the termination of this Agreement, including specifically, without limitation, obligations owing under Sections 1.18, 1.19, 1.21, 1.22, 2, 3, 4, 5, 6, 7, 9 and 10 hereof, will survive and remain in effect until all obligations are satisfied.

10 GENERAL PROVISIONS

10.1 Public Announcements and Promotional Materials.  COLLABRIA and CLRI shall cooperate with each other either to issue a joint press release and/or to enable each party to issue and post to its website an announcement concerning this Agreement, provided that each party approve any such press announcement prior to its release.  Any separate release shall be subject to approval by both parties prior to publication of such release.  COLLABRIA shall have the right to use CLRI’s name as a customer reference only with written approval by CLRI.

 10.2 Force Majeure.  If either party is prevented from performing any portion of this Agreement (except the payment of money) by causes beyond its control, including labor disputes, civil commotion, war, governmental regulations or controls, casualty, inability to obtain materials or services or acts of God, such defaulting party will be excused from performance for the period of the delay and for a reasonable time thereafter.

10.3 Dispute Resolution.  The parties agree to attempt in good faith to resolve all disputes arising between them first through expedited mediation (not to exceed 48 hours from the receipt by a party of the notice described below) and, if mediation is not successful, through negotiated settlement or court action.  Neither party shall file a lawsuit until the mediation has been completed, except that in the event that the actions of one party will cause or are causing the other immediate irreparable injury requiring temporary injunctive relief and the other party is unwilling to suspend its planned or existing activity to allow for expedited mediation, the aggrieved party may file suit and seek such temporary injunctive relief in a court with jurisdiction over the subject matter of the dispute.  Dispute resolution under this section shall be triggered by one party’s service upon the other of a written notice and request to mediate, identifying the subject matter of the dispute and the nature of the relief sought.  Unless otherwise agreed in writing at the time of mediation, mediation shall be conducted through and under the mediation rules of the American Arbitration Association.

10.4 Limitation of Actions.  No action arising or resulting from this Agreement, regardless of its form, may be brought by either party more than two (2) years after termination of this Agreement.

10.5 Third-Party Claims.  Neither party shall be liable for any claim by the other based on any third-party claim, except as stated in Section 7 of this Agreement.

10.6 Choice of Law/Jurisdiction.  This Agreement will in all respects be governed by and construed in accordance with the laws of the state of Florida, without regard to choice of law provisions, and will not be construed in accordance with or governed by the United Nations Convention for International Sales of Goods.

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10.7 Attorneys’ Fees.  If either COLLABRIA or CLRI employs attorneys to enforce any rights arising out of or relating to this Agreement, the prevailing party shall be entitled to recover reasonable costs and attorneys’ fees.

10.8 Waiver.  No waiver of any right or remedy on one occasion by either party will be deemed a waiver of that right or remedy on any other occasion.

10.9 Superior Agreement.  This Agreement will not be supplemented or modified by any course of dealing or usage of trade.  Variance from or addition to the terms and conditions of this Agreement in any written notification from CLRI will be of no effect, unless otherwise expressly provided for in this Agreement.

10.10 Assignment.  This Agreement is not assignable by CLRI, in whole or in part, without COLLABRIA’s prior written consent.  COLLABRIA will not unreasonably withhold consent to an assignment of this Agreement or any part of this Agreement to a parent, subsidiary or affiliate of CLRI, provided that such entity is at least as capable as CLRI of satisfying CLRI’s responsibilities hereunder.  Any attempted assignment without COLLABRIA’s written consent will be null and void.

10.11 Notice.  Unless otherwise agreed to by the parties, all notices required under this Agreement (except those relating to product pricing, changes and upgrades) will be deemed effective when received and made in writing by either (i) registered mail, (ii) certified mail, return receipt requested, (iii) overnight mail, addressed and sent to the address indicated on the Signature Page, to the attention of the person designated as the responsible representative or to that person’s successor, or (iv) by facsimile appropriately directed to the attention of the person designated as the responsible representative or to that person’s successor.

 10.12Severability.  If any term, provision, covenant or condition of this Agreement is held invalid or unenforceable for any reason, the remainder of the provisions will continue in full force and effect as if this Agreement had been executed with the invalid portion eliminated.  The parties further agree to substitute for the invalid provision a valid provision that most closely approximates the intent and economic effect of the invalid provision.

10.13 Independent Contractors.  Each party acknowledges that the parties to this Agreement are independent contractors and that it will not, except in accordance with this Agreement, represent itself as an agent or legal representative of the other.

10.14 No Third-Party Contracts or Obligations.  COLLABRIA shall not be deemed a party to any contractual arrangement between CLRI and any third party.  None of the promises, covenants and undertakings COLLABRIA makes in this Agreement is intended to create a right or benefit enforceable by a third party.  CLRI is not, and shall not hold itself out to be COLLABRIA’s legal representative or permanent establishment, nor shall CLRI purport to create or assume any obligations or responsibility on COLLABRIA’s behalf.  Any such purported obligation or responsibility shall be void.

10.15 No Partnership or Joint Venture.  Neither this Agreement nor any course of conduct between the parties hereunder shall constitute or create a partnership, joint venture, principal-agent relationship or employer-employee relationship between the parties.

10.16 Compliance with Laws.  Each party represents and warrants that it shall comply at its own expense with all applicable laws, rules and regulations of governmental bodies and agencies, including all laws, rules and regulations affecting or governing exports, in its performance under this Agreement.

10.17 Government Rights.  CLRI agrees (i) to identify the Licensed Product(s) in all proposals and agreements with the United States Government or any contractor for the United States Government; and (ii) to identify or to mark the software products provided pursuant to any agreement with the United States Government or any contractor for the United States Government as necessary to obtain protection substantially equivalent to that afforded commercial computer software and related documentation developed at private expense and provided with Restricted Rights as defined in DFARS 48 C.F.R. 252.227-7013(c)(1)(ii) or 48 C.F.R. 52.227-19, as applicable, or any successor regulations.

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10.18 Headings.  The headings provided in this Agreement are for convenience only and will not be used in interpreting or construing this Agreement.

10.19 Counterparts.  This Agreement may be executed in two counterparts, each of which will be deemed an original and all of which when taken together will constitute one and the same document.

10.20 Scope of Agreement.  Each of the parties hereto acknowledges that it has read this Agreement, understands it and agrees to be bound by its terms.  The parties further agree that this Agreement is the complete and exclusive statement of agreement regarding the subject matter and supersedes all proposals (oral or written), understandings, representations, conditions, warranties, covenants and all other communications between the parties relating thereto.

10.21 Amendment.  This Agreement may be amended only by a writing that refers specifically to this Agreement, signed by authorized representatives of both parties.

*   *    *    END OF STANDARD TERMS AND CONDITIONS    *    *    *

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APPENDIX I TO SCHEDULE C

 

READYOP LICENSE AGREEMENT

 

ReadyOpTM is a secure web-based application that integrates multiple databases and a communications platform to support planning, response, command and communications for client organizations. ReadyOp is the sole property of Collabria LLC (“Collabria”) and is licensed to CLRI.  ReadyOp is offered as a licensed service for use only under the terms of this license.  CLRI and Collabria LLC, the license provider, reserves all rights not expressly granted in this Agreement.

 

Client Organization:  ________________________________     Planned Number of Users:  ______

Payment Received Date:  ___________   ReadyOp Service Start Date:  ____________________

1.

Upon receipt of payment from your organization, CLRI will hereby grant license to your organization to use ReadyOp for the period of one year or as otherwise agreed between your organization and CLRI.  You agree that any use of ReadyOp by any users in your organization must be in accordance with the ReadyOp End User License Agreement.  A copy of the ReadyOp End User License Agreement is included below. 

2.

Our Responsibilities. We shall: (i) provide our basic support for ReadyOp to You at no additional charge, (ii) use commercially reasonable efforts to make ReadyOp available 24 hours a day, 7 days a week, and (iii) provide ReadyOp only in accordance with applicable laws and government regulations.

3.

Our Protection of Your Data. We shall maintain appropriate administrative, physical, and technical safeguards for protection of the security, confidentiality and integrity of Your Data. We shall not (a) modify Your Data, (b) disclose Your Data except as compelled by law in accordance with Section 8.3 (Compelled Disclosure) or as expressly permitted in writing by You, or (c) access Your Data except to provide the Services and prevent or address service or technical problems, or at Your request in connection with customer support matters. 

4.

Your Responsibilities. You shall (i) be responsible for Users’ compliance with this Agreement, (ii) be responsible for the accuracy, quality and legality of Your Data and of the means by which You acquired Your Data, (iii) use commercially reasonable efforts to prevent unauthorized access to or use of the Services, and notify us promptly of any such unauthorized access or use, and (iv) use the Services only in accordance with the User Guide and applicable laws and government regulations. You shall not (a) make the Services available to anyone other than Users, (b) sell, resell, rent or lease the Services, (c) use the Services to store or transmit infringing, libelous, or otherwise unlawful or tortious material, or to store or transmit material in violation of third‐party privacy rights, (d) use the Services to store or transmit Malicious Code, (e) interfere with or disrupt the integrity or performance of the Services or third‐party data contained therein, or (f) attempt to gain unauthorized access to the Services or their related systems or networks.

5.

CLRI and Collabria will provide your organization with the ability to create secure login credentials for the ReadyOp site for your organization.  You agree to maintain the security and confidentiality of all ReadyOp login credentials.  You will be granted a maximum number of annual User Licenses per your payment and agreement with Collabria.  If your organization grants licenses in excess of the maximum number paid for by You, You agree to pay to CLRI  within 30 days the amount as specified in Quote for Services offered to You by CLRI.

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6.

ReadyOp is an Internet-based service.  As such, CLRI and Collabria cannot and does not guarantee access at all times to ReadyOp.  CLRI and Collabria LLC will endeavor to have the ReadyOp platform operational and accessible at all times; however, as the website is accessed via the Internet and public cmmunications systems, CLRI and Collabria LLCcannot and do not guarantee access to the ReadyOp site at all times by all users.  Likewise, CLRI and Collabria cannot and do not guarantee absolute security of its platform or of your data stored at the ReadyOp website.  We will do our best to secure both the ReadyOp site and your data, but we cannot guarantee success against current and future cyber attacks or other attacks by individuals outside CLRI and Collabria.

7.

The commencement date for your annual service will be the date when CLRI and Collabria provide the login credentials to you for your ReadyOp site unless otherwise agreed between CLRI and Collabria and You.  The ReadyOp annual service may be renewed by payment of the annual service amount at any time prior the end of the one year period.

We want you and your organization to enjoy the use of ReadyOp and to employ its capabilities to support your organization and its activities.  Our goal is to provide ReadyOp to you as an effective and efficient tool for your use.  Please contact us if you experience any issues or have any questions.  We will endeavor to do our best to support you and the authorized ReadyOp users in your organization.

For Cleartronic, Inc.:

For Client Organization:

__________________________________

________________________________

Date:  _________________________

Date:  _______________________

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APPENDIX II TO SCHEDULE C

 

END USER LICENSE AGREEMENT

IMPORTANT – READ BEFORE USING THE SERVICE

 

YOU SHOULD CAREFULLY READ THE FOLLOWING TERMS AND CONDITIONS BEFORE ACCESSING OR USING THE ACCOMPANYING HOSTED SOFTWARE, THE USE OF WHICH IS LICENSED FOR USE ONLY AS SET FORTH BELOW.  IF YOU DO NOT AGREE TO THE TERMS AND CONDITIONS OF THIS AGREEMENT, DO NOT USE THE SOFTWARE.  IF YOU USE ANY PART OF THE SOFTWARE, SUCH USE WILL INDICATE THAT YOU ACCEPT THESE TERMS.

ReadyOp End User License Agreement 

ReadyOp is the sole property of Collabria LLC (“Collabria”).  ReadyOp is offered to you as a licensed service for use only under the terms of this license.  ReadyOp has not and will not be not sold to You.  Collabria LLC, the license provider, reserves all rights not expressly granted to You. ReadyOp is referred to in this License Agreement as ReadyOp or the “Licensed Application.”

1. Scope of License: This license granted to You for ReadyOp by Collabria LLC is a non-transferable license to use ReadyOp on any computer device You own or control.  You may not copy (except as expressly permitted by this license), decompile, reverse engineer, disassemble, attempt to derive the source code of, modify, or create derivative works of ReadyOp, any updates, or any part thereof. Any attempt to do so is a violation of the rights of Collabria LLC. If You breach this restriction, You may be subject to prosecution and damages. The terms of the license will govern any upgrades provided by Collabria that replace and/or supplement ReadyOp, unless such upgrade is accompanied by a separate license in which case the terms of that license will govern.

2. Termination. The license is effective until terminated by You or Collabria. Your rights under this license will terminate automatically without notice from Collabria if You fail to comply with any term(s) of this license. Upon termination of the license, You shall cease all use of ReadyOp. 

3. Services. Third Party Materials. ReadyOp may enable access to Collabria’s and third party services and web sites (collectively and individually, "Services"). Use of the Services may require Internet access and that You accept additional terms of service.

You understand that by using any of the Services, You may encounter content that may be deemed offensive, indecent, or objectionable, which content may or may not be identified as having explicit language, and that the results of any search or entering of a particular URL may automatically and unintentionally generate links or references to objectionable material. Nevertheless, You agree to use the Services at Your sole risk and that Collabria shall not have any liability to You for content that may be found to be offensive, indecent, or objectionable.

Certain Services may display, include or make available content, data, information, applications or materials from third parties (“Third Party Materials”) or provide links to certain third party web sites. By using the Services, You acknowledge and agree that Collabria is not responsible for examining or evaluating the content, accuracy, completeness, timeliness, validity, copyright compliance, legality, decency, quality or any other aspect of such Third Party Materials or web sites. 

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Collabria does not warrant or endorse and does not assume and will not have any liability or responsibility to You or any other person for any third-party Services, Third Party Materials or web sites, or for any other materials, products, or services of third parties. Third Party Materials and links to other web sites are provided solely as a convenience to You. Financial information displayed by any Services is for general informational purposes only and is not intended to be relied upon as investment advice. Before executing any securities transaction based upon information obtained through the Services, You should consult with a financial professional. Location data provided by any Services is for basic navigational purposes only and is not intended to be relied upon in situations where precise location information is needed or where erroneous, inaccurate or incomplete location data may lead to death, personal injury, property or environmental damage. Neither Collabria, nor any of its content providers, guarantees the availability, accuracy, completeness, reliability, or timeliness of stock information or location data displayed by any Services.

You agree that any Services contain proprietary content, information and material that is protected by applicable intellectual property and other laws, including but not limited to copyright, and that You will not use such proprietary content, information or materials in any way whatsoever except for permitted use of the Services. You agree to not exploit the Services in any unauthorized way whatsoever, including but not limited to, by trespass or burdening network capacity. You further agree not to use the Services in any manner to harass, abuse, stalk, threaten, defame or otherwise infringe or violate the rights of any other party, and that Collabria is not in any way responsible for any such use by You, nor for any harassing, threatening, defamatory, offensive or illegal messages or transmissions that You may receive as a result of using any of the Services.

In addition, third party Services and Third Party Materials that may not available in all languages or in all countries. Collabria LLC makes no representation that such Services and Materials are appropriate or available for use in any particular location. To the extent You choose to access such Services or Materials, You do so at Your own initiative and are responsible for compliance with any applicable laws, including but not limited to applicable local laws. Collabria LLC, and its licensors, reserve the right to change, suspend, remove, or disable access to any Services at any time without notice. In no event will Collabria be liable for the removal of or disabling of access to any such Services. Collabria may also impose limits on the use of or access to certain Services, in any case and without notice or liability.

4. NO WARRANTY: YOU EXPRESSLY ACKNOWLEDGE AND AGREE THAT USE OF READYOP IS AT YOUR SOLE RISK AND THAT THE ENTIRE RISK AS TO SATISFACTORY QUALITY, PERFORMANCE, ACCURACY AND EFFORT IS WITH YOU. TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, READYOP AND ANY SERVICES PERFORMED OR PROVIDED BY READYOP ("SERVICES") ARE PROVIDED "AS IS" AND “AS AVAILABLE”, WITH ALL FAULTS AND WITHOUT WARRANTY OF ANY KIND, AND COLLABRIA LLC HEREBY DISCLAIMS ALL WARRANTIES AND CONDITIONS WITH RESPECT TO READYOP AND ANY SERVICES, EITHER EXPRESS, IMPLIED OR STATUTORY, INCLUDING, BUT NOT LIMITED TO, THE IMPLIED WARRANTIES AND/OR CONDITIONS OF MERCHANTABILITY, OF SATISFACTORY QUALITY, OF FITNESS FOR A PARTICULAR PURPOSE, OF ACCURACY, OF QUIET ENJOYMENT, AND NON-INFRINGEMENT OF THIRD PARTY RIGHTS. COLLABRIA LLC DOES NOT WARRANT AGAINST INTERFERENCE WITH YOUR ENJOYMENT OF READYOP, THAT THE FUNCTIONS CONTAINED IN READYOP, OR SERVICES PERFORMED OR PROVIDED BY, READYOP WILL MEET YOUR REQUIREMENTS, THAT THE OPERATION OF READYOP OR SERVICES WILL BE UNINTERRUPTED OR ERROR-FREE, OR THAT DEFECTS IN READYOP OR SERVICES WILL BE CORRECTED. NO ORAL OR WRITTEN INFORMATION OR ADVICE GIVEN BY COLLABRIA OR ITS AUTHORIZED REPRESENTATIVE SHALL CREATE A WARRANTY. SHOULD READYOP OR SERVICES PROVE DEFECTIVE, YOU ASSUME THE ENTIRE COST OF ALL NECESSARY SERVICING, REPAIR OR CORRECTION. SOME JURISDICTIONS DO NOT ALLOW THE EXCLUSION OF IMPLIED WARRANTIES ORLIMITATIONS ON APPLICABLE STATUTORY RIGHTS OF A CONSUMER, SO THE ABOVE EXCLUSION AND LIMITATIONS MAY NOT APPLY TO YOU.

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5. Limitation of Liability. TO THE EXTENT NOT PROHIBITED BY LAW, IN NO EVENT SHALL COLLABRIA BE LIABLE FOR PERSONAL INJURY, OR ANY INCIDENTAL, SPECIAL, INDIRECT OR CONSEQUENTIAL DAMAGES WHATSOEVER, INCLUDING, WITHOUT LIMITATION, DAMAGES FOR LOSS OF PROFITS, LOSS OF DATA, BUSINESS INTERRUPTION OR ANY OTHER COMMERCIAL DAMAGES OR LOSSES, ARISING OUT OF OR RELATED TO YOUR USE OR INABILITY TO USE READYOP, HOWEVER CAUSED, REGARDLESS OF THE THEORY OF LIABILITY (CONTRACT, TORT OR OTHERWISE) AND EVEN IF COLLABRIA HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. SOME JURISDICTIONS DO NOT ALLOW THE LIMITATION OF LIABILITY FOR PERSONAL INJURY, OR OF INCIDENTAL OR CONSEQUENTIAL DAMAGES, SO THIS LIMITATION MAY NOT APPLY TO YOU. In no event shall Collabria’s total liability to you for all damages (other than as may be required by applicable law in cases involving personal injury) exceed the amount of fifty dollars ($50.00). The foregoing limitations will apply even if the above stated remedy fails of its essential purpose.

6. You may not use or otherwise export or re-export ReadyOp except as authorized by United States law and the laws of the jurisdiction in which ReadyOp was obtained. In particular, but without limitation, ReadyOp may not be exported or re-exported (a) into any U.S. embargoed countries or (b) to anyone on the U.S. Treasury Department's list of Specially Designated Nationals or the U.S. Department of Commerce Denied Person’s List or Entity List. By using ReadyOp, you represent and warrant that you are not located in any such country or on any such list. You also agree that you will not use these products for any purposes prohibited by United States law, including, without limitation, the development, design, manufacture or production of nuclear, missiles, or chemical or biological weapons.

7. The laws of the State of Florida, excluding its conflicts of law rules, govern this license and your use of ReadyOp. Your use of ReadyOp may also be subject to other local, state, national, or international laws.

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AMENDMENT

SCHEDULE D -- LICENSED PRODUCTS AND FEES

COLLABRIA STANDARD PRICE LIST AND MARGIN STRUCTURE FOR CLRI

(All Prices are in US Dollars)

Licensed Fees

These MSRP prices are based on Ready-Op 1.0 and subject to change with a 60 day notice. Any service agreements in place at the time of a price change will be grandfathered in at the old pricing through the term of each current agreement. ReadyOp, Inc. or CLRI will pay Collabria a royalty as scheduled below for all products invoiced by ReadyOp, Inc. or CLRI, (ReadyOp, Inc. is a wholly owned subsidiary of CLRI).

			
	Collabria Licensed Products

	Suggested Selling Price

	Royalty Due Collabria

	ReadyOp Dashboard – includes a 50 seat licenses

	$X.XX per dashboard per year

	$X.XX

	Additional seat licenses

	$X.XX per 50 seats per year

	$X.XX

	ReadyOp Radio over IP Converter

	$X.XX

	$X.XX

 

By signing below, the parties acknowledge that they agree with the terms and conditions of this Amendment to the Software as a Service License Agreement, executed on July x, 2014, and each signatory represents and certifies that he or she is authorized to sign on behalf of his or her respective party and bind it to all of the terms and conditions of this Agreement:

		
	COLLABRIA LLC

By: /s/ Marc Moore

 

Printed Name: Marc Moore

 

Title: CEO

 

Date: 8/15/14

	CLEARTRONIC, INC. – READYOP, INC.

By:  /s/ Larry M. Reid

 

Printed Name: Larry M. Reid

 

Title: President & CEO

 

Date: 8/15/14

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COLLABRIA LLC

SOFTWARE LICENSE AGREEMENT

SCHEDULE E - LICENSED MARKS

COLLABRIA GENERAL TRADEMARK GUIDELINE

The purpose of these guidelines is to assist you in complying with the legal requirements of Collabria LLC (COLLABRIA) regarding trademark use.   

General Trademark Guidelines

You may use Collabria LLC (COLLABRIA) trademarks (including logos or taglines) to identify COLLABRIA products, services, and programs on all marketing and sales collaterals (such as, but not limited to, price quotes, datasheets, presentations, brochures, advertising, tradeshow materials, websites) provided you adhere to the following guidelines: 

1.

You may not incorporate or include COLLABRIA trademarks in your company name, product name, domain name, or in the name of your service. 

2.

Your product name may not be confusingly similar to any of COLLABRIA’s trademarks. 

3.

Your use may not be obscene or pornographic, and may not be disparaging, defamatory, or libelous to COLLABRIA, any of its products, or any other person or entity. 

4.

Your use may not directly or indirectly imply COLLABRIA’s sponsorship, affiliation, or endorsement of your product or service. 

5.

Reference to the COLLABRIA trademark may not be the most prominent visual element on your product or service. Your company name and/or logo, your product or service name, and your graphics should be significantly larger than the reference to COLLABRIA’s trademark. 

6.

If your use includes references to a COLLABRIA product, the full name of the product must be referenced at the first and most prominent mention (such as ReadyOp). When referencing any COLLABRIA trademarks, please mark with a TM as indicated below. 

7.

You may not shorten or abbreviate any of COLLABRIA’s trademarks. Always spell and capitalize COLLABRIA’s trademarks exactly as they appear below. 

8.

These guidelines are provided for guidance only. COLLABRIA reserves the right to request revised wording depending upon the particular circumstances relating to a specific product.

Trademarks

The following list sets forth certain of the trademarks used by Collabria LLC. This list is subject to change at any time.

Logos

Unless you are licensed by Collabria LLC under a specific licensing program or agreement, use of COLLABRIA logos such as the COLLABRIA corporate logo and product logos are not allowed. 

The following list sets forth certain of the logos used by Collabria LLC. This list is subject to change at any time. 

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COLLABRIA LLC

SOFTWARE LICENSE AGREEMENT

COLLABRIA LLC

  SOFTWARE LICENSE AGREEMENT

SCHEDULE F

CLRI Administrative & Billing Contact

Licensee: Cleartronic, Inc.

 

Contact Name: Larry M. Reid

 

Title: President & CEO

 

Contact Address: 8000 N Federal Hwy, Suite 100

       Boca Raton, FL 33487

 

Telephone (office): 561-939-3300 Ext 143

 

Telephone (cell): 954-821-3560

 

Email address: lreid@voiceinterop.com

-20-

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