Document:

exhibit_10-13.htm

Exhibit 10.13

THIS WARRANT AND THE SECURITIES ISSUABLE UPON EXERCISE OF THIS WARRANT HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), OR ANY STATE OR OTHER JURISDICTION’S SECURITIES LAWS. NEITHER THE ISSUANCE AND SALE OF THIS WARRANT NOR THE SECURITIES ISSUABLE UPON EXERCISE OF THIS WARRANT MAY BE SOLD, OFFERED FOR SALE, PLEDGED, HYPOTHECATED OR OTHERWISE TRANSFERRED EXCEPT IN ACCORDANCE WITH REGULATIONS, AS PROMULGATED BY THE SECURITIES AND EXCHANGE COMMISSION ("REGULATION S"), PURSUANT TO REGISTRATION UNDER THE ACT OR BASED ON AN OPINION OF COUNSEL SATISFACTORY, IN FORM AND SUBSTANCE, TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED UNDER SUCH ACT.  HEDGING TRANSACTIONS INVOLVING THESE SECURITIES MAY NOT BE CONDUCTED UNLESS IN COMPLIANCE WITH THE ACT.

ACRO INC.

WARRANT TO PURCHASE SHARES OF COMMON STOCK

Class of Stock: Common Stock.

Number of Shares: As defined in Section 1(b) below.

Issuance Date: As defined in Section 1(c) below.

Acro, Inc., a company organized under the laws of the State of Nevada (the "COMPANY"), hereby certifies that, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, BIOTECH KNOWLEDGE LLC, the registered holder hereof (the "HOLDER"), is entitled, subject to the terms set forth below, to purchase from the Company, at the Exercise Price (as defined below) then in effect, upon surrender of this Warrant to Purchase Shares of Common Stock ("WARRANT"), at any time or times on or after the date hereof, but not after 11:59 P.M., NY Time, on the earlier of (i) three year anniversary of the Issuance Date, (ii) any merger or consolidation in which the Company is a constituent party, or a subsidiary of the Company is a constituent party and the Company issues shares of its capital stock pursuant to such merger or consolidation, or the sale, lease, transfer, exclusive license or other disposition, in a single transaction or series of related transactions, by the Company or any subsidiary of the Company of all or substantially all the assets of the Company and its subsidiaries taken as a whole, or the sale or disposition (whether by merger or otherwise) of one or more subsidiaries of the Company if substantially all of the assets of the Company and its subsidiaries taken as a whole are held by such subsidiary or subsidiaries, or the sale, transfer or issuance (whether by merger, consolidation or otherwise) of voting securities (or securities convertible into voting securities) of the Company such that the holders of at least fifty percent (50%) of the voting power of the Company as of immediately prior to any such transaction or series of related transactions cease to hold a majority of the voting power of the Company as of immediately following any such transaction ("EXPIRATION DATE"), up to the Number of Shares (as defined below) of fully paid and nonassessable shares of the Company's Common Stock (the "WARRANT SHARES").

1.  DEFINITIONS

a.  "Note" shall mean that certain Convertible Promissory note between Acro, Inc. and BioTech Knowledge LLC, dated March 24, 2010.

 

  

  

  

 

b. "Number of Shares" shall equal the number of shares of Common Stock issued by the Company to the Holder pursuant to the Optional Conversion, as defined in the Note.

c. "Issuance Date" shall mean the date of the Optional Conversion, as defined in the Note.

 

2. EXERCISE OF WARRANT.

a.  Subject to the terms and conditions hereof, this Warrant may be exercised by the Holder on any day prior to the Expiration Date, in whole or in part, by (i) delivery of a written notice, in the form attached hereto as EXHIBIT A (the "EXERCISE NOTICE"), of the Holder's election to exercise this Warrant, (ii) payment to the Company of an amount equal to the applicable Exercise Price multiplied by the number of Warrant Shares as to which this Warrant is being exercised (the "AGGREGATE EXERCISE PRICE") in cash or wire transfer of immediately available funds, and (iii) the delivery to the Company of this Warrant. Execution and delivery of the Exercise Notice with respect to less than all of the Warrant Shares shall have the same effect as cancellation of the original Warrant and issuance of a new Warrant evidencing the right to purchase the remaining number of Warrant Shares.  If this Warrant is submitted in connection with any exercise pursuant to this Section 2(a) and the number of Warrant Shares represented by this Warrant submitted for exercise is greater than the number of Warrant Shares being acquired upon an exercise, then the Company shall as soon as practicable and in no event later than five business days after any exercise and at its own expense, issue a new Warrant representing the right to purchase the number of Warrant Shares purchasable immediately prior to such exercise under this Warrant, less the number of Warrant Shares with respect to which this Warrant is exercised. No fractional Shares of Common Stock are to be issued upon the exercise of this Warrant, but rather the number of Shares of Common Stock to be issued shall be rounded up or down to the nearest whole number.

THE WARRANT MAY NOT BE EXERCISED WITHIN THE UNITED STATES, AND NO SHARES MAY BE DELIVERED WITHIN THE UNITED STATES UPON EXERCISE, OTHER THAN IN OFFERINGS DEEMED TO MEET THE DEFINITION OF "OFFSHORE TRANSACTION" PURSUANT TO RULE 902(H) OF REGULATION S, UNLESS REGISTERED UNDER THE ACT OR WRITTEN OPINION OF COUNSEL, SATISFACTORY, IN FORM AND SUBSTANCE, TO THE COMPANY, TO THE EFFECT THAT AN EXEMPTION FROM SUCH REGISTRATION IS AVAILABLE.

b.  EXERCISE PRICE. For purposes of this Warrant, "EXERCISE PRICE" means $0.016 U.S. Dollars, subject to adjustment as provided herein.

 

3. ADJUSTMENT OF EXERCISE PRICE. If the Company at any time after the date of issuance of this Warrant subdivides (by any stock split, stock dividend, recapitalization or otherwise) its outstanding Shares of Common Stock into a greater number of shares, the Exercise Price in effect immediately prior to such subdivision will be proportionately reduced and the number of Warrant Shares will be proportionately increased. If the Company at any time after the date of issuance of this Warrant combines (by combination, reverse share split or otherwise) its outstanding Shares of Common Stock into a smaller number of shares, the Exercise Price in effect immediately prior to such combination will be proportionately increased and the number of Warrant Shares will be proportionately decreased. Any adjustment under this Section 3 shall become effective at the close of business on the date the subdivision or combination becomes effective.

 

  

2

  

 

4. WARRANT HOLDER NOT DEEMED A SHAREHOLDER. Except as otherwise specifically provided herein, no Holder, solely in such person's capacity as a holder, of this Warrant shall be entitled to vote or receive dividends or be deemed the holder of share of the Company for any purpose, nor shall anything contained in this Warrant be construed to confer upon the Holder, solely in such person's capacity as a holder of this Warrant, any of the rights of a shareholder of the Company or any right to vote, give or withhold consent to any corporate action (whether any reorganization, issue of stock, reclassification of stock, consolidation, merger, conveyance or otherwise), receive notice of meetings, receive dividends or subscription rights, or otherwise, prior to the issuance to the Holder of the Warrant Shares which such person is then entitled to receive upon the due exercise of this Warrant.

5. REISSUANCE OF WARRANTS.

a.  TRANSFER OF WARRANT. This Warrant may not be offered for sale, sold, transferred or assigned without the consent of the Company.

b.  LOST, STOLEN OR MUTILATED WARRANT. Upon receipt by the Company of evidence reasonably satisfactory to the Company of the loss, theft, destruction or mutilation of this Warrant, and, in the case of loss, theft or destruction, of any indemnification undertaking by the Holder to the Company in customary form and, in the case of mutilation, upon surrender and cancellation of this Warrant, the Company shall execute and deliver to the Holder a new Warrant representing the right to purchase the Warrant Shares then underlying this Warrant.

6.  NOTICES. Whenever notice is required to be given under this Warrant, unless otherwise provided herein, such notice shall be given in accordance with Section 4(b) of the Note.

7.  AMENDMENT AND WAIVER. This Warrant may be amended only by a written instrument signed by the Company and the Holder. Any term of this Warrant may be waived only by an instrument in writing signed by the party against which enforcement of the waiver is sought.

8.   LEGENDS.  This warrant and the Shares (and the securities issuable, directly or indirectly, upon conversion of the Shares, if any) shall be imprinted with a legend in substantially the following form:

THIS WARRANT AND THE SECURITIES ISSUABLE UPON EXERCISE OF THIS WARRANT HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), OR ANY STATE OR OTHER JURISDICTION’S SECURITIES LAWS. NEITHER THE ISSUANCE AND SALE OF THIS WARRANT NOR THE SECURITIES ISSUABLE UPON EXERCISE OF THIS WARRANT MAY BE SOLD, OFFERED FOR SALE, PLEDGED, HYPOTHECATED OR OTHERWISE TRANSFERRED EXCEPT IN ACCORDANCE WITH REGULATIONS, AS PROMULGATED BY THE SECURITIES AND EXCHANGE COMMISSION ("REGULATION S"), PURSUANT TO REGISTRATION UNDER THE ACT OR BASED ON AN OPINION OF COUNSEL SATISFACTORY, IN FORM AND SUBSTANCE, TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED UNDER SUCH ACT.  HEDGING TRANSACTIONS INVOLVING THESE SECURITIES MAY NOT BE CONDUCTED UNLESS IN COMPLIANCE WITH THE ACT.

 

  

3

  

 

9.  GOVERNING LAW. The Warrant is governed by the laws of the State of New York.  The Holder, in its personal or corporate capacity and, if applicable, on behalf of each beneficial purchaser for whom it is acting, irrevocably agree to the jurisdiction of the courts of the State of New York, without reference to its conflict of laws provisions.

10.  CONSTRUCTION; HEADINGS. This Warrant shall be deemed to be jointly drafted by the Company and the Holder, and shall not be construed against any person as the drafter hereof. The headings of this Warrant are for convenience of reference and shall not form part of, or affect the interpretation of, this Warrant.

 

IN WITNESS WHEREOF, the Company has caused this Warrant to Purchase Shares of Common Stock to be duly executed as of the Issuance Date set out above.

ACRO, INC.

 

By:  /s/Gadi Aner        

Name: Gadi Aner                                                  

Title: CEO                                

 

  

4

  

EXHIBIT A

EXERCISE NOTICE

TO BE EXECUTED BY THE REGISTERED HOLDER TO EXERCISE THIS WARRANT 

TO PURCHASE SHARES OF COMMON STOCK

ACRO, INC.

The undersigned Holder hereby exercises the right to purchase _________________ of the shares of Common Stock ("WARRANT SHARES") of Acro, Inc., a company organized under the laws of the State of Nevada (the "Company"), evidenced by the attached Warrant to Purchase Shares of Common Stock (the "WARRANT"). Capitalized terms used herein and not otherwise defined shall have the respective meanings set forth in the Warrant.

     1. Form of Exercise Price. The Holder intends that payment of the Exercise Price shall be made as:

____________ a "CASH EXERCISE" with respect to _________________ Warrant Shares.

     2. Payment of Exercise Price. The Holder is hereby delivering to the Company payment in the amount of $_________ representing the Aggregate Exercise Price for such Warrant Shares.

     3. Delivery of Warrant Shares. The Company shall deliver to the Holder __________ Warrant Shares in accordance with the terms of the Warrant.

     4.  The Holder hereby deliver a written opinion of counsel, satisfactory, in form and substance, to the Company, to the effect that the Warrant and the securities delivered upon exercise thereof have been registered under the Act or are exempt from registration thereunder, or alternatively represents, warrants, and certify that (i) it is not a U.S. person, (as that term is defined under Regulation S), (ii) the Warrant is not being exercised on behalf of a U.S. person, (iii) the Warrant is not being exercised within the United States.

 

Date: _______________ __, ______

BIOTECH KNOWLEDGE LLC

 

By:___________________________

Name: Ehud Keinan

Title: Sole Member

 

 

5exhibit_10-15.htm

 

Exhibit 10.15

 

FINDERS AGREEMENT

 

This Finders Agreement (the "Agreement") is entered into as of March 13, 2010 (the "Effective Date"), between, ACRO INC., a Nevada corporation (the "Company"), and SIDEN INVESTMENT INC., a company form under the laws of the province of British Columbia, Canada, ("Finder") on the terms and conditions set forth below.

 

1.           UNDERLYING FACTS/RECITALS.

 

  1.1                The Company is contemplating one or more non-brokered financings (the “Proposed Offerings”).

 

  1.2                In connection with the Proposed Offerings, the Company has agreed to retain the Finder on a non-exclusive basis to find, as may be permitted under applicable securities legislation, potential subscribers to the Proposed Offerings of not less than $110,000 in the aggregate on the terms and conditions herein.

 

  1.3                The parties have agreed to the payment by the Company to the Finder of certain fees respecting the provision of the Finder’s services if a Financing can be arranged and consummated.

 

  1.4                Company desires to retain Finder and Finder desires to provide services to Company on the terms and conditions set forth in this Agreement.

 

2.           ENGAGEMENT.  Company hereby engages Finder on a non-exclusive basis solely to introduce to the Company potential investors, who are identified in Exhibit "A" attached hereto, or otherwise identified in writing by the Finder to the Company, who were introduced to the Company by Finder during the Term (“Investors”) to participate in an offering of Company securities. The Company intends to offer units ("Unit") for $0.05 each ("Unit Purchase Price"), each Unit consisting of two shares of common stock ("Unit Shares") and one warrant to purchase one share of common stock, exercisable for 12 months, following the initial closing of Proposed Offering, at $0.025 per share, subject to terms and conditions agreed by the Company ("Unit Warrant"). The minimum offering is $25,000 ("Investment Threshold"), maximum expected offering is $50,000.  Finder shall not make any introductions in Israel, and Investors shall exclude residents of Israel.

 

3.           TERM.  The term of this Agreement shall commence on the Effective Date, and shall continue until terminated pursuant to section 8 ("Term").  Provided that the Investment Threshold is met not later than March 20, 2010, the obligation to pay the Compensation to Finder will survive 3 years following the termination of this Agreement if Investors were introduced to the Company by the Finder during the Term.

 

4.           COMPENSATION. Company shall have the exclusive right, in its sole discretion, to accept or reject any Investors presented to it by Finder. Company shall have no obligation to enter into any transaction with any Investor presented to it by Finder. Subject to section 3, if during the Term, the Company agrees to sell Units to Investors, and actually accepts, during the Term or within 3 years following termination thereof, cash payment equal to the applicable Unit Purchase Price for all such Units purchased by Investors introduced by Finder ("Consideration") in an aggregate amount equal or exceeding the Investment Threshold, Finder shall receive a "Warrant" based on the below formula. The obligation to issue the Warrants shall arise only after Company has actually received the applicable Consideration for the Units sold to introduced Investor.  The Finder Warrant will be issued within five (5) business days of the actual receipt of the Consideration:

 

  

  

  

 

	
For Investment:

	
Provided that the Investment Threshold is met, upon actual receipt of cash payment from Investors, Finder shall be issued a warrant (a “Finder Warrant”) granting Finder the right to purchase Shares at a price of US $0.025 per Share in an amount equal to 8% percent of the number of Units actually issued to the introduced Investors in such transaction. The Finder Warrant shall be exercisable for a period of twelve (12) months from the date of issuance of the Units. By way of example, in the event the introduced Investors are issued 200,000 Units, Finder would receive a Finder Warrant for 16,000 Shares, exercisable at $0.025 for one Share.  The terms and conditions of the Finder Warrant shall be identical to the Unit Warrant.

 

	
  

	
If at any time, the Company proposes to file a registration statement under the Securities Act of 1933, as amended ("Securities Act") on Form S-1 or S-3 (or any other appropriate form for the general registration of securities) with respect to any resale of shares of Common Stock by shareholders of the Company, other than a registration statement relating either to the sale of securities to employees of the Company pursuant to a stock option, stock purchase or similar plan or a Securities and Exchange Commission ("SEC") Rule 145 transaction, a registration on any form which does not include substantially the same information as would be required to be included in a registration statement covering the sale of the shares of Common Stock, the Company shall give the Finder a written notice at least 20 days before the filing with the Securities and Exchange Commission of such registration statement.  If the Finder desires to have any of the shares underlying the Finder Warrant ("Finder's Shares") included in such registration statement, the Finder shall so advise the Company in writing within 10 days after the date of mailing of such notice from the Company. The Company shall thereupon include in such filing the number of Finder's Shares for which registration is so requested, subject to their right to reduce the number of such shares as hereinafter provided, and shall use its commercial reasonable efforts to effect registration under the Securities Act of such shares; provided, however, that the Company shall have the right to terminate or withdraw any registration initiated by it under this Section prior to the effectiveness of such registration whether or not the Finder has elected to include securities in such registration.  In the event the offering of the Company’s capital stock or other securities covered by such registration statement is to be underwritten, the Company shall not be required to include any of the Finder's Shares  in such offering unless Finder accept the terms of the underwriting as agreed upon between the Company and its underwriters, and then only in such quantity as the underwriters determine in their sole discretion will not jeopardize the success of the offering by the Company, and in such event the offering of the Finder's Shares included in the registration statement shall also be underwritten on the same basis as the shares offered by the Company and the Company shall furnish the Finder with a written statement of the managing or principal underwriter as to the maximum number of shares, if any, (the “Maximum Includable Securities”) of each type or class of the Company’s securities that the managing or principal underwriter, in its good faith judgment, deems practicable to offer and sell at that time in a firm commitment underwritten offering without materially and adversely affecting the marketability or price of the securities of the Company to be offered.  If the total number of securities proposed to be included in such registration statement is in excess of the Maximum Includable Securities, the number of securities to be included within the coverage of such registration statement shall be reduced to the Maximum Includable Securities. It shall be a condition precedent to the obligations of the Company to take any action pursuant to this Section with respect to the Finder's Shares that the Finder shall furnish to the Company such information regarding itself, the Finder's Shares held by it, and the intended method of disposition of such securities as shall be reasonably required to effect the registration of the Finder's Shares.  This obligation shall terminate when the Shares could be sold without restriction under Rule 144(k) promulgated by the SEC under the Securities Act of 1933.

 

  

2

  

 

5.           DUTIES AND INDEPENDENT CONTRACTOR STATUS.

 

  5.1                Finder's Duties.  Subject to section 5.6 and the other terms and conditions of this Agreement, Finder will perform its services without any supervision from Company.  Notwithstanding anything in this Agreement to the contrary, Finder shall not negotiate on behalf of Company, nor bind Company to any agreement.

 

  5.2                Materials Entrusted to Finder. Company may from time to time provide Finder with written materials such as Proposed Offering memoranda, financial documents, and other materials to aid in attracting investment. Finder agrees that he will not make any copies of such materials without Company’s written consent. Finder agrees that any such materials will only be shared with Investors and that Finder will notify Company in writing of all persons and organizations to whom such materials are sent.

 

  5.3                Independent Finder Status.  This Agreement does not constitute a hiring by either party.  The parties intend that so far as shall be in conformity with the law, Finder shall be an independent contractor and not Company's employee.  There is no requirement that Finder devote his full productive time to Company. The parties are and shall remain independent contractors bound by the provisions hereof. No member of Finder nor any other officer, director, or employee of Finder shall be deemed to be an employee of Company for any purpose, including for purposes of any of Company's employee benefit programs, income withholding taxes, social security or similar withholding taxes, or unemployment benefits under the law of any jurisdiction. As an independent contractor, Finder shall be responsible for and obligated to pay all taxes based on or arising out of this Agreement that may now or hereafter be imposed under the authority of applicable taxing jurisdictions. Finder shall further be responsible for securing such health, disability and life insurance for itself, or if acting on behalf of a corporate entity, such health, disability, and life insurance for Finder’s corporate officers, directors, or employees (including without limitation each member of Finder's team) as Finder deems advisable.

 

  

3

  

 

  5.4                No Partnership; Indemnity. This Agreement shall not be construed as a partnership, and Company shall not be liable for any obligation incurred by Finder, nor shall Company be liable for any injuries, liabilities or damages suffered by or caused by Finder.  Each party shall indemnify, defend and hold the other harmless from any and all damages, claims, losses, causes of action, costs, expenses and fees in connection with any liability or obligation incurred by the other party.

 

  5.5                Finder and Company Obligations.  Finder agrees not to (i) provide advice to any Investor about the merits of the Proposed Offering; (ii) participate in any negotiations between the Company and Investors; (iii) assist the Company or Investors with the completion of the transaction; (iv) handle funds or securities involved in completing a transaction; (v) hold itself out as providing any securities-related services other than a listing or matching service; or (vi) take any other action that will require its registration as a broker-dealer under the U.S. Securities laws, any applicable “blue sky” laws, and the rules of the National Association of Securities Dealers.  Each party covenants to (i) not take any actions in connection with the Proposed Offering that may disqualify it as a private offering in any jurisdiction in which the stock is offered (including the U.S.), (ii) if the securities are sold to non-U.S. Investors outside the U.S., to comply with the requirements of Regulation S under the Securities Act, and (iii) if a Proposed Offering or Sale is made in the U.S. or to U.S. Investors, comply with the registration requirements of the Securities Act provided by Section 4(2) thereof and Regulation D thereunder. In connection with Proposed Offering made pursuant to Regulation S, each party agrees (i) not to engage in any “directed selling efforts” (as that term is defined in Regulation S) with respect to the Stock and (ii) to comply with the offering restriction requirements of Regulation S. In connection with offers made in the U.S. pursuant to Regulation D, Finder agrees (i) to limit introduction to Investors in connection with the Proposed Offering or Sale to persons reasonably believed by it to be “accredited investors” within the meaning of Rule 501(a) under the Securities Act and (ii) not to engage in any form of general solicitation or general advertising in connection with the Proposed Offering within the meaning of Rule 502 under the Securities Act.

 

Each party understands that the other party is relying in part upon the truth and accuracy of, and other party compliance with, the representations, warranties, agreements, acknowledgments and understandings of the other party set forth herein in order to enter into this Agreement.

 

Each party agrees to indemnify and hold harmless the other party and any of its affiliates, any director, officer, agent or employee of the other party or any of its affiliates and each other person, if any, controlling the other party or any of its affiliates (hereinafter collectively referred to as “Indemnified Parties”), to the full extent lawful, from and against, and that the Indemnified Parties shall have no liability to such party or such party owners, parents, creditors or security holders for, any losses, expenses (including reasonable legal fees), claims or proceedings including shareholder actions (hereinafter collectively referred to as “losses”) related to or arising out breach of such party of this subsection (i) or any transaction or conduct in connection therewith.

 

6.           NO AGENCY AUTHORITY; CONFLICTS OF INTEREST.  Finder will not represent itself as having any powers except those authorized by this Agreement, and subject to any applicable law.  Finder shall have no authority to bind Company by any promise or representation unless specifically authorized by the Company, in writing, in any particular transaction.  Finder shall have no authority to order, direct or command any of Company's employees.

 

  

4

  

 

7.           USE OF COMPANY'S MARKETING MATERIALS. Company will provide Finder with information and document’s pertaining to the Company's current Proposed Offering.

 

8.           TERMINATION.

 

  8.1               Termination of Relationship.  Company or Finder shall have the right to terminate this Agreement at any time, with or without cause, for any reason whatsoever, upon written notice to the other party at least thirty (30) days prior to termination. Provided that the Investment Threshold is met not later than June 30, 2010, Finder shall receive the compensation described in Section 4 for investments actually made by any potential Investors introduced prior to the termination of this Agreement, provided that such investments were consummated within 3 years following termination of this Agreement. Nothing in this section, however, shall be interpreted to limit Company's right to reject or accept Investors presented to it by Finder.

 

  8.2                Return of Company Property.  Promptly, and not later than ten (10) days after the termination of this Agreement, all property, including Confidential Information, belonging to Company shall be returned or made available for return to Company or its authorized representative.

 

9.           COVENANT NOT TO USE TRADE SECRETS.

 

  9.1                Referral Sources and Solicitation.  Information regarding the names, addresses and telephone numbers of Company's or Finder’s clients, Company’s or Finder’s business plans, marketing materials, market studies, and financial data ("Confidential Information") coming into the possession of the other party during the term of this Agreement, or any prior Agreement, are trade secrets wholly-owned by Company or the Finder, as the case may be.  All forms and other materials, whether furnished or purchased by the relevant party, upon which this information is recorded shall be the sole and exclusive property of the other party. The list of potential Investors provided by Finder will be included as Finder’s Confidential Information. During the term of this Agreement, Finder shall only use Company’s Confidential Information to carry out the intent of this Agreement for the benefit of Company.  Finder will not disclose such Confidential Information to a third party (other than directors, officers, employees or outside advisors of Finder) without the prior written consent of the Company. All other uses are strictly prohibited. During the tern of this Agreement, and after termination of this Agreement, Finder and Company shall not, directly or indirectly, make known to any person, firm or corporation the Confidential Information of the other, or use the Confidential Information of the other for any personal or business purpose. Additionally, Finder and Company shall not, for a period of three (3) years immediately following the termination of this Agreement, either directly or indirectly, call on, solicit, or take away any of the clients or referral sources or Confidential Information of the other, with whom the other party became acquainted during its affiliation with the other, either for itself or for any person, firm, corporation, association or other entity for any reason or purpose whatsoever.

 

  9.2                Injunctions, Etc.  In the event of a breach or threatened breach by either party of the provisions of this Section 9, Company or Finder, as the case may be, shall be entitled to an injunction restraining the other from disclosing or using, in whole or in part, the Confidential Information, or from rendering any services to or soliciting from any person, firm, corporation, association or other entity to whom such Confidential Information, in whole or in part, has been disclosed or threatened to be disclosed.  Nothing herein shall be construed as prohibiting the party whose Confidential Information has been misused from pursuing any other remedies available to it for such breach or threatened breach, including the recovery of damages from Finder.

 

  

5

  

 

  9.3                Material non-public information.  Each party acknowledges that it is (i) aware that the United States securities laws prohibit any person who has material non-public information about a company from purchasing or selling securities of such company, or from communicating such information to any other person under circumstances in which it is reasonably foreseeable that such person is likely to purchase or sell such securities, and (ii) familiar with the Securities and Exchange Act of 1934 and the rules and regulations promulgated thereunder and agrees that the Finder will neither use, nor cause any third party to use, any Confidential Information or any other information provided in connection with the Proposed Offering, including the existing of such process in contravention of such Act or any such rules and regulations thereof, including Rules 10b-5 and 14e-3.

 

              10.           GENERAL PROVISIONS.

 

      10.1                 Effect of Headings; Schedules.  The subject headings of the sections of this Agreement are included for purposes of convenience only and shall not affect the construction or interpretation of any of its provisions.

 

      10.2                 Entire Agreement; Modification; Waiver.  This Agreement constitutes the entire agreement between the parties pertaining to the subject matter contained in this Agreement, except for the other agreements referenced in this Agreement.  This Agreement supersedes all prior and contemporaneous agreements (other than those entered into in writing simultaneously with this Agreement), including without limitation the Finders Agreement between the parties dated February 1, 2007, and all prior and contemporaneous representations and understandings of the parties.  No supplement, modification or amendment of this Agreement shall be binding unless executed in writing by all parties.  No waiver of any of the provisions of this Agreement shall be deemed, or shall constitute, a waiver of any other provision, whether or not similar, nor shall any waiver constitute a continuing waiver.  No waiver shall be binding unless executed in writing by the party making the waiver.

 

      10.3                 Counterparts.  This Agreement may be executed simultaneously in one or more counterparts or by facsimile, and each such agreement or facsimile so executed, shall be deemed to be an original, and all such counterparts together shall constitute one and the same instrument.

 

      10.4                 Parties in Interest.  Nothing in this Agreement, whether express or implied, is intended to confer any rights or remedies under or by reason of this Agreement on any persons other than the parties to this Agreement and their respective successors and assigns.  Nothing in this Agreement is intended to relieve or discharge the obligation or liability of any third person to any party to this Agreement, nor shall any provision give any third person any right of subrogation or action over against any party to this Agreement.

 

      10.5                 Successors and Assigns.  This Agreement shall be binding upon and inure to the benefit of the parties and their respective heirs, beneficiaries, legal representatives, successors and assigns. This Agreement may only be assigned by Finder with the express written consent of Company.

 

      10.6                 Survival of Representations, Warranties and Covenants.  The representations, warranties and covenants of the parties contained in this Agreement shall survive the execution of this Agreement.

 

      10.7                 Notices.  All notices, requests, demands and other communications under this Agreement shall be in writing and shall be deemed duly given (i) on the date of delivery if personally delivered, (ii) one business day after delivery by overnight courier or facsimile, or (iii) three business days after mailing if mailed by first-class mail, postage prepaid, to the parties at their addresses set forth below, or such other address designated from time to time in writing by such party to all other parties.

 

  

6

  

 

     10.8                 Governing Law, Venue and Severability.  This Agreement shall be governed by and construed under the laws of the New York, without giving rise to any conflict of law provisions thereunder, and any actions in connection with or arising out of this Agreement shall be commenced and maintained only in New York.  If any provision of this Agreement is invalid or unenforceable, such provision shall (i) be modified to the minimum extent necessary to render it valid and enforceable, or (ii) if it cannot be so modified, be deemed not to be a part of this Agreement and shall not affect the validity or enforceability of the remaining provisions.

 

      10.9                 Necessary Acts.  Each party to this Agreement agrees to perform any further acts and execute and deliver any further documents that may be reasonably necessary to carry out the provisions of this Agreement.

 

                              10.10              Arbitration. Any controversy or claim arising out of or relating to this Agreement or the breach thereof shall be settled by arbitration in New York, New York before a referee in accordance with American Arbitration Associations rules. The judgment upon the award rendered in the arbitration may be entered in any court having jurisdiction hereof, and the judgment shall be final and binding on the parties.

 

	 	
Company: 

 

ACRO INC.

a Nevada Corporation

	 
	 	 	 	 
	
 

	
By: 

	 	 
	 	Name: Gadi Aner	 	 
	 	Title: CEO	 	 
	 	Address:   18 Inbar St.  Caesarea, Israel	 	 

 

	 	
Finder:

 

SIDEN INVESTMENT INC.

	 
	 	 	 	 
	
 

	
By: 

	 	 
	 	Name: David Sidoo	 	 
	 	Title: President	 	 
	 	
Address:   Suite 1305 - 1090 West Georgia Street 

                    Vancouver,B.C. V6E 3V7

	 	 

 

7

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00171-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00171-of-00352.parquet"}]]