Document:

Nonqualified Stock Option Award Agreement

 EXHIBIT 10.25 
 Execution Version 
 Comverse Technology, Inc. 

2011 Stock Incentive Compensation Plan 
 NONQUALIFIED STOCK OPTION AWARD AGREEMENT 
 THIS NONQUALIFIED STOCK OPTION
AWARD AGREEMENT (this “Award Agreement”) is made effective as of May 21, 2012 (the “Date of Grant”) by and between Comverse Technology, Inc., a New York corporation (with any successor, the “Company”), and Philippe
Tartavull (the “Participant”). 
 R E C I T A L S: 

WHEREAS, the Company has adopted the Comverse Technology, Inc. 2011 Stock Incentive Compensation Plan, as amended from time to time (the
“Plan”), which Plan is incorporated herein by reference and made a part of this Award Agreement. Capitalized terms not otherwise defined herein shall have the same meanings as in the Plan; and 

WHEREAS, the Committee has determined that it would be in the best interests of the Company and its stockholders to grant the option
provided for herein to the Participant pursuant to the Plan and the terms set forth herein. 
 NOW THEREFORE, in consideration
of the mutual covenants hereinafter set forth, the parties agree as follows: 
 1. Grant of the Option. 

(a) The Company hereby grants to the Participant the right and option (the “Option”) to purchase, on the terms and conditions
hereinafter set forth, all or any part of an aggregate of 788,644 Shares, subject to adjustment as set forth in the Plan. The Option is intended to be a Nonqualified Stock Option. 

(b) The Company has announced its intention to distribute 100% of the shares of Comverse, Inc. (“CNS”) to its shareholders
subject to certain conditions (the “Proposed Spinoff”). Subject to the Committee’s determination (and notice to the Participant), acting pursuant to its authority under Article 12 of the Plan, upon consummation of the Proposed
Spinoff, to the extent that the Participant commences or continues to provide Continuous Service to CNS or its subsidiaries, the Option, to the extent then unexercised, will be replaced with an equivalent value award representing the right to
receive common stock of CNS in settlement thereof on substantially similar terms and conditions, including vesting, granted under a stock incentive plan to be adopted by CNS. 
 2. Option Price. The purchase price of the Shares subject to the Option shall be $ 6.34 per Share (the “Option Price”), an amount equal to the closing price per Share as reported on
the NASDAQ Global Select Market on the Date of Grant, subject to adjustment as set forth in the Plan. 
 3. Vesting.

 (a) Except as otherwise provided in Section 4 hereof, the Option shall vest in equal installments on each of the first,
second and third anniversaries of the Date of Grant, 

 
subject to the Participant’s Continuous Service through the applicable vesting date. At any time, the portion of the Option which has become vested as described in Section 3 or
Section 4 hereof is hereinafter referred to as the “Vested Portion.” The Vested Portion of the Option shall remain exercisable for the period set forth in Section 5. 

(b) Notwithstanding any provision of Section 3(a) to the contrary, in the event of a Change of Control, (i) if the continuing
entity fails to assume or replace the Option with a new award of equivalent value and substantially equivalent terms, the Option shall become fully vested, and (ii) if the continuing entity assumes or replaces the Option with a new award of
equivalent value and substantially equivalent terms, the vesting schedule of the Option shall not accelerate and the unvested portion of the Option shall be immediately forfeited upon any subsequent termination of Participant’s Continuous
Service unless otherwise provided in Section 4 hereof. 
 4. Forfeiture and Termination of Continuous Service.

 (a) If the Participant’s Continuous Service is terminated by the Company or one of its Subsidiaries without Cause, in
the absence of a Change of Control, any portion of the Option that would have vested during the one (1) year period following the Participant’s termination date (had the Participant’s Continuous Service continued during such period)
shall become immediately fully vested. 
 (b) If the Participant’s Continuous Service is terminated (i) by the Company
or one of its Subsidiaries without Cause either (A) prior to a Change of Control but in contemplation thereof, or (B) within twenty four (24) months following a Change of Control, (ii) by the Participant for Good Reason, or
(iii) due to the Participant’s death or Disability, the Option shall become immediately fully vested. 
 (c) If the
Participant’s Continuous Service is terminated for any reason other than as described in Section 4(a) or (b) hereof, the Option shall, to the extent not then vested, be immediately cancelled by the Company and forfeited without
consideration. 
 (d) If the Participant’s Continuous Service is terminated for Cause, the Vested Portion of the Option
shall be immediately cancelled by the Company and forfeited without consideration. 
 (e) If the Participant’s Continuous
Service is terminated for any reason other than Cause, the Vested Portion of the Option shall remain exercisable for the period set forth in Section 5. 
 5. Exercise of Option. 
 (a) Period of Exercise. Subject to the
provisions of the Plan and this Award Agreement, the Participant may exercise all or any part of the Vested Portion of the Option at any time prior to the earlier to occur of: 

(i) the 10th anniversary of the Date of Grant; and 

(ii) the date that is one (1) year following termination of the Participant’s Continuous Service for any reason
other than Cause. 

  
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 (b) Method of Exercise. 

(i) The Participant or the Participant’s representative may exercise the Vested Portion or any part thereof by
giving written notice to the Company in the form attached hereto as Exhibit A (the “Notice of Exercise”). Such Notice of Exercise shall be accompanied by payment in full of the aggregate Option Price for the Shares to be
exercised. The aggregate Option Price may be paid in cash, its equivalent (e.g., by check, draft, money order, cashier’s check or wire transfer payable to the Company) or any other form of payment permitted by the Committee in accordance with
Section 6.5 of the Plan. Neither the Participant nor the Participant’s representative shall have any rights to dividends, voting rights or other rights of a stockholder with respect to Shares subject to an Option until the Participant has
given a Notice of Exercise of the Option, paid the Option Price in full for such Shares, become the record holder of such Shares/been issued certificates in the Participant’s name (or the name of the Participant’s representative, as
applicable) representing such Shares and, if applicable, satisfied any other conditions imposed by the Committee pursuant to the Plan. In the event of the Participant’s death, the Vested Portion shall be exercisable by the executor or
administrator of the Participant’s estate, or the person or persons to whom the Participant’s rights under this Award Agreement shall pass by will or by the laws of descent and distribution as the case may be, during the period(s) set
forth in this Section 5. Any heir or legatee of the Participant shall take rights herein granted subject to the terms and conditions of this Award Agreement and the Plan. 

(ii) Notwithstanding any other provision of the Plan, this Award Agreement or the Employment Agreement to the contrary,
the Option may not be exercised, in whole or in part, prior to the completion of any registration or qualification of the Option or the Shares under applicable securities or other laws, or under any ruling or regulation of any governmental body or
national securities exchange that the Committee shall in its sole discretion determine to be necessary or advisable. 
 (iii) Upon the Company’s determination that the Option has been validly exercised as to any of the Shares, the Company shall issue certificates in the Participant’s name for such Shares.

 6. No Right to Continued Service. The granting of the Option evidenced hereby and this Award Agreement shall impose no
obligation on the Company, any Subsidiary or any Affiliate to continue the employment or service of the Participant and shall not lessen or affect any right that the Company, any Subsidiary or any Affiliate may have to terminate the employment or
service of such Participant. 
 7. Securities Laws/Legend on Certificates. The issuance and delivery of Shares shall
comply with all applicable requirements of law, including (without limitation) the Securities Act of 1933, as amended, the rules and regulations promulgated thereunder, state securities laws and regulations, and the regulations of any stock exchange
or other securities market on which the Company’s securities may then be traded. If the Company deems it necessary to ensure that the issuance of securities under the Plan is not required to be registered under any applicable securities laws,
the Participant shall deliver to the Company an agreement or certificate containing such representations, warranties and covenants, as reasonably requested by the Company, which satisfies such requirements. Any certificates representing the Shares
shall be subject to such stop transfer orders and other restrictions as the Committee may deem reasonably advisable, and the Committee may cause a legend or legends to be put on any such certificates to make appropriate reference to such
restrictions. 

  
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 8. Transferability. The Option may not be assigned, alienated, pledged, attached,
sold, transferred or encumbered by the Participant except in the event of the Participant’s death (subject to the applicable laws of descent and distribution) and any such purported assignment, alienation, pledge, attachment, sale, transfer or
encumbrance shall be void and unenforceable against the Company or any Subsidiary or Affiliate. No transfer shall be permitted for value or consideration. Any permitted transfer of the Option to heirs or legatees of the Participant shall not be
effective to bind the Company unless the Committee shall have been furnished with written notice thereof and a copy of such evidence as the Committee may deem necessary to establish the validity of the transfer and the acceptance by the transferee
or transferees of the terms and conditions hereof. 
 9. Adjustment of Option. Except as provided by Sections 1(b) and
3(b), adjustments to the Option shall be made in accordance with the terms of the Plan. Fractional shares shall not be issued and any rights thereto shall be forfeited without consideration. 

10. Definitions. For purposes of this Award Agreement: 
 “Change of Control” shall have the meaning given to such term in the Plan; provided, however, that following consummation of the Spin Off, all references in such definition to “the
Company” and “the Board” shall be deemed references to “CNS” and “the Board of Directors of CNS”. For the avoidance of doubt, the Spin Off shall not constitute a Change of Control. 

“Employment Agreement” shall mean the employment agreement by and among the Company, CNS and the Participant, dated as of
April 26, 2012, as may be amended from time to time. 
 “Disability” shall have the meaning given to such term in
the Employment Agreement. 
 “Good Reason” shall have the meaning given to such term in the Employment Agreement.

 11. Withholding. The Company shall have the power and the right to deduct or withhold automatically or require the
Participant to remit to the Company, the amount necessary to satisfy federal, state, and local taxes, domestic or foreign, required by law or regulation to be withheld with respect to any taxable event arising as a result of this Award Agreement and
the Plan. With respect to required withholding, the Participant may elect (subject to the Company’s automatic withholding right set out above), subject to the approval of the Committee, to satisfy the withholding requirement, in whole or in
part, by having the Company withhold Shares having a Fair Market Value on the date the tax is to be determined equal to the minimum statutory total tax that could be imposed on the transaction. 

12. Notices. Any notification required by the terms of this Award Agreement shall be given in writing and shall be deemed
effective upon personal delivery or within three (3) days of deposit with the United States Postal Service, by registered or certified mail, with postage and fees prepaid. A notice shall be addressed to the Company, Attention: Corporate
Secretary, at its principal executive office and to the Participant at the address that the Participant most recently provided to the Company. 

  
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 13. Entire Agreement. This Award Agreement, the Plan, and for purposes of
Section 10 only, the Employment Agreement, constitute the entire contract between the parties hereto with regard to the subject matter hereof. They supersede any other agreements, representations or understandings (whether oral or written and
whether express or implied) which relate to the subject matter hereof. 
 14. Waiver. No waiver of any breach or
condition of this Award Agreement shall be deemed to be a waiver of any other or subsequent breach or condition whether of like or different nature. 
 15. Successors and Assigns. The provisions of this Award Agreement shall inure to the benefit of, and be binding upon, the Company and its successors and assigns and upon the Participant, the
Participant’s assigns and the legal representatives, heirs and legatees of the Participant’s estate, whether or not any such person shall have become a party to this Award Agreement and agreed in writing to be joined herein and be bound by
the terms hereof. 
 16. Choice of Law; Jurisdiction; Waiver of Jury Trial. This Award Agreement shall be governed by the
laws of the State of Delaware, excluding any conflicts or choice of law rule or principle that might otherwise refer construction or interpretation of this Award Agreement to the substantive law of another jurisdiction. 

SUBJECT TO THE TERMS OF THIS AWARD AGREEMENT, THE PARTIES AGREE THAT ANY AND ALL ACTIONS ARISING UNDER OR IN RESPECT OF THIS AWARD
AGREEMENT SHALL BE LITIGATED IN THE FEDERAL OR STATE COURTS IN DELAWARE. BY EXECUTING AND DELIVERING THIS AWARD AGREEMENT, EACH PARTY IRREVOCABLY SUBMITS TO THE PERSONAL JURISDICTION OF SUCH COURTS FOR ITSELF, HIMSELF OR HERSELF AND IN RESPECT OF
ITS, HIS OR HER PROPERTY WITH RESPECT TO SUCH ACTION. EACH PARTY AGREES THAT VENUE WOULD BE PROPER IN ANY OF SUCH COURTS, AND HEREBY WAIVES ANY OBJECTION THAT ANY SUCH COURT IS AN IMPROPER OR INCONVENIENT FORUM FOR THE RESOLUTION OF ANY SUCH ACTION.

 EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES ALL RIGHT TO TRIAL BY JURY IN ANY ACTION, PROCEEDING OR
COUNTERCLAIM ARISING OUT OF OR RELATING TO THIS AWARD AGREEMENT. 
 17. Option Subject to Plan. By entering into this
Award Agreement the Participant agrees and acknowledges that the Participant has received and read a copy of the Plan. The Option is subject to the Plan. The terms and provisions of the Plan are hereby incorporated herein by reference. In the event
of a conflict between any term or provision contained herein, other than Section 10 hereof or in the Employment Agreement and a term or provision of the Plan, the applicable terms and provisions of the Plan will govern and prevail. 

18. Amendment. The Committee may amend or alter this Award Agreement and the Option granted hereunder at any time, subject to the
terms of the Plan. 

  
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 19. Severability. The provisions of this Award Agreement are severable and if any one
or more provisions are determined to be illegal or otherwise unenforceable, in whole or in part, the remaining provisions shall nevertheless be binding and enforceable. 
 20. Headings. Section and sub-section headings are for convenient reference only and shall not control or affect the meaning of construction of any of its provisions. 

21. Signature in Counterparts. This Award Agreement may be signed in counterparts, each of which shall be an original, with the
same effect as if the signatures thereto and hereto were upon the same instrument. 
 [SIGNATURE PAGE FOLLOWS]

  
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 Execution Version 
 IN WITNESS WHEREOF, the parties hereto have executed this Award Agreement. 
  

			
	COMVERSE TECHNOLOGY, INC.
		
	By:	 	/s/ Shefali Shah
		 	Name: Shefali Shah
		 	Title: Senior Vice President and General Counsel

  

	
	 Agreed and acknowledged as
 of
the date first above written:

	
	/s/ Philippe Tartavull
	Name: Philippe Tartavull

 EXHIBIT A 

Notice of Exercise 

Comverse Technology, Inc. 
 810 Seventh Avenue

 New York, New York 10019 

	 Attention: Corporate Secretary 
	Date of Exercise: _________________ 

 Ladies &
Gentlemen: 
 1. Exercise of Option. This constitutes notice to Comverse Technology, Inc. (the
“Company”) that pursuant to my Nonqualified Stock Option Award Agreement, dated _________________ (the “Award Agreement”), I elect to purchase the number of Shares set forth below and for the price set forth below.
Capitalized terms used and not otherwise defined herein shall have the meaning ascribed to such term in the Award Agreement. By signing and delivering this notice to the Company, I hereby acknowledge that I am the holder of the Option exercised by
this notice and have full power and authority to exercise the same. 
  

					
			
	 Number of Shares as to
 which
the Option is exercised
 (“Optioned Shares”):
	 		 	  

			
	 Optioned Shares to be
 issued
in name of:
	 		 	  

			
	 Total exercise price:
	 	$	 	  

			
	 Cash payment
 delivered
herewith:
	 	$	 	  

  
 2. Form of Payment. Forms of
payment other than cash or its equivalent (e.g., by check, draft, money order, cashier’s check or wire transfer payable to the Company) are permissible only to the extent approved by the Committee, in its discretion. 

3. Delivery of Payment. With this notice, I hereby deliver to the Company the full purchase price of the Optioned Shares and any
and all withholding taxes due in connection with the exercise of my Option. 
 4. Rights as Stockholder. While the
Company will endeavor to process this notice in a timely manner, I acknowledge that until the issuance of the Optioned Shares (as evidenced by the appropriate entry on the books of the Company or of a duly authorized transfer agent of the Company),
no right to vote or receive dividends or any other rights as a stockholder shall exist with respect to such shares, notwithstanding the exercise of my Option. No adjustment shall be made for a dividend or other right for which the record date is
prior to the date of issuance of the Optioned Shares. 

  
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 5. Interpretation. Any dispute regarding the interpretation of this notice shall be
submitted promptly by me or by the Company to the Committee. The resolution of such a dispute by the Committee shall be final and binding on all parties. 
 6. Entire Agreement. The Plan, the Award Agreement under which the Optioned Shares were granted and, for purposes of Section 10 of the Award Agreement only, the Employment Agreement are
incorporated herein by reference, and together with this notice constitute the entire agreement of the parties with respect to the subject matter hereof. In the event of a conflict between any term or provision contained herein or in the Employment
Agreement and a term or provision of the Plan, the applicable terms and provisions of the Plan will govern and prevail. 
  

	
	Very truly yours,
	
	  
	
	  
	(social security number)

  
 9exhibit_10-1.htm

EXHIBIT 10.1

 

LETTER OF INTENT

Subject to the conditions found herein, this Letter of Intent is intended to serve as a non-binding agreement (except for those Sections entitled “Closing”, “No Shop”, and “Applicable Law” which shall be binding) pursuant to which International Gold Corp., a Nevada corporation publicly trading on the OTCQB of the OTC market under the symbol “ITGC” (“PubCo”), will exchange certain of its shares with SignalChem Lifesciences Corporation, a British Columbia corporation (“OpCo”). The terms and conditions set forth herein are based on preliminary and limited information provided by the parties hereto and are subject to change pending the completion of due diligence, the approval of the Board of Directors of both companies and the execution of definitive agreements.

 

	
Share Exchange

	
A tax-free exchange of shares in which (i) the shareholders of OpCo would exchange all of their shares of OpCo for shares of PubCo and (ii) OpCo merges with a wholly-owned subsidiary of PubCo (“Exchange Sub”). The transaction between OpCo and PubCo shall sometimes be referred to hereafter as the “Exchange”.

 

	
Surviving Entity

	
OpCo would be the surviving company of the Exchange with the Exchange Sub and would be maintained as a separate wholly-owned subsidiary of PubCo. Any business or liabilities (excluding liabilities reported on the last quarterly report on Form 10-Q plus new interest related to such liabilities and normal business expenses incurred from the date of the financial statements to the closing) of PubCo would be spun out of PubCo (if any exist) prior to the Exchange so that PubCo would have no other business or liabilities other than the business of OpCo immediately upon the Exchange.

 

	
Simultaneous Offering

	
As a condition to the Exchange and simultaneous with the Exchange, PubCo will sell a minimum of $4 million of its shares of common stock (“Common Shares”) at a mutually agreed price (the “Offering”).  The investors in the Offering shall receive customary rights to have their shares registered with the U.S. Securities and Exchange Commission.  Other terms of the Offering shall be mutually agreed upon.

 

 

 

 

 

  

1

  

 

 

 

	
Capitalization

	
PubCo has 100,000,000 authorized Common Shares and no other authorized class of capital stock.

 

PubCo currently has 6,250,000 Common Shares outstanding.

 

Prior to the Exchange, PubCo will issue no more than 4,734,000 Common Shares at a minimum of $0.20 per share (of which 3,234,000 shall be issued at a minimum of $0.05 per share), so that at the time of the Exchange PubCo will have no more that 10,984,000 Common Shares outstanding.

 

	
Consideration

	
The shareholders of OpCo will exchange all of their shares of OpCo for a minimum of 78.45% of the outstanding Common Shares of PubCo after the Exchange (but excluding the Offering and the Finders’ Fee).  By way of example, if there are 10,984,000 Common Shares outstanding prior to the Exchange, then after the Exchange (excluding the Offering and the Finders’ Fee), the OpCo shareholders would own 40,000,000 Common Shares out of 50,984,000 outstanding Common Shares.

 

	
Due Diligence

	
Each of PubCo and OpCo shall have 45 days from the date hereof to conduct an investigation of the other’s prospects, business, assets, contracts, rights, liabilities and obligations, including financial, marketing, employee, legal, regulatory and environmental matters, to satisfy itself as to the desirability of proceeding with the Exchange.  During this time each of PubCo and OpCo shall provide the other with access to its books, records and operations as reasonably requested.

	  

Conditions

	  

OpCo conditions to closing:

 

a) Delivery to OpCo of customary legal opinions (including a legal opinion as to the tax free nature of the Exchange), closing certificates, necessary consents and approvals of government bodies or lenders as concerns PubCo.

 

b) Confirmation to OpCo that as of the date immediately prior to the effectiveness of the Exchange, PubCo has no material liabilities (other than as set out in the Section entitled “Surviving Entity”).

 

c) The Exchange, the Offering and all related transactions have been approved by the PubCo board of directors.

 

d) Preparation of a “Super 8-K” to be filed within four days of the Exchange, using information provided OpCo.

 

e) Continued reporting compliance with the Securities Exchange Act of 1934, as amended, and the rules and regulations of the British Columbia Securities Commission (the “BCSC”).

 

f) Continued quotation on the OTCQB and the absence of any cease trade orders from the US Securities and Exchange Commission or the BCSC.

 

g) Completion of Side Sale (as defined below) at or prior to Exchange.

 

 

 

  

2

  

 

 

 

 

	 	
PubCo conditions to closing:

 

a) Delivery to PubCo of customary legal opinions, closing certificates, necessary consents and approvals of government bodies or lenders as concerns OpCo.

 

b) Provide PubCo with audited financial statements by a PCAOB member firm and other due diligence items verifying ownership of the assets owned by OpCo.

 

c) Simultaneous closing of the Offering.

 

d) Preparation of a “Super 8-K” to be filed within four days of the Exchange, using information provided PubCo.

 

e) Entry into customary lock-up agreements for all shareholders of OpCo that will own more than 5% of PubCo’s Common Shares after the Exchange and the Offering; provided that after the first year of the lock up, each those shareholders that are party to a lock up may sell a portion of their shareholding on customary terms to be agreed upon.

 

f) No material adverse change in OpCo’s business, financial condition prospects, assets or operations.

 

g) The Exchange and all related transactions have been approved by OpCo’s board of directors and shareholders.

 

	
Closing

	
Within 60 days of this Letter of Intent, PubCo, the Exchange Sub and OpCo shall negotiate and execute a definitive Exchange agreement and related documents and certificates (the “Exchange Documents”), which shall incorporate in more complete detail the terms found herein.

 

	
Terms and Provisions

 

	
The Exchange Documents shall include normal provisions including, without limitation, representations, warranties, covenants, agreements and remedies as are appropriate to preserve and protect the economic benefits intended to be conveyed to and from PubCo, Exchange Sub and OpCo pursuant hereto.

 

	
No Shop

	
Both PubCo and OpCo agree that from the date of this Letter of Intent until the 60th day thereafter, neither party nor any of affiliates, officers, directors, employees, agents, or advisors shall, directly or indirectly, solicit offers from, negotiate with or in any manner encourage or consider any proposal of any other person or entity relating to the acquisition of an ownership in PubCo, Exchange Sub or OpCo or of the assets of such entities, in whole or in part, through purchase, Exchange, consolidation, share exchange or otherwise, or any other business combination involving such parties.

 

 

 

  

3

  

 

 

	
Audit

	
If necessary, each party shall commence an audit as soon as possible and otherwise take such action as may be necessary to allow the parties to file a Super 8-K with the Securities and Exchange Commission as soon as possible after the Closing.

 

	
Audit and Legal Fee

	
Each party shall be liable for their respective legal and accounting fees; provided that in the event that there is a closing, International Gold Corp. shall be liable for all outstanding expenses.

 

	
Side Sale

	
At or prior to the Exchange, Robert Baker shall sell, or cause Woodburn Holdings Ltd. to sell, (i) 3,500,000 shares in PubCo at $0.01 per share to Zahir Popat, (ii) 250,000 shares in PubCo at $0.01 per share to Alistair MacLennan and (iii) 250,000 shares in PubCo at $0.01 per share to Ian Klassen.

 

	
Confidentiality

	
This Letter of Intent is confidential and proprietary to PubCo and OpCo. PubCo and OpCo hereby represent, each to the other, that it shall not disclose this Letter of Intent or its contents to third parties without the prior written consent of the other party. Both parties shall ensure that its counsel and advisors shall be aware of the confidential nature of this agreement and will agree to be bound to the terms hereof. This provision shall be of no further force or effect in the event the parties fail to enter into the Exchange.

 

	
Applicable Law

	
This Letter of Intent shall be governed by and construed and enforced in accordance with the laws of the State of New York, without regard to conflicts of laws principles.

 

	
Contacts

	
SignalChem Lifesciences Corporation

550-5600 Parkwood Way

Richmond, BC V6V 2M2

Canada

Tel. 1-866-954-6273

 

International Gold Corp.

1111 West Georgia Street, Suite 1720

Vancouver, British Columbia

Canada V6E 4M8

 

 

	  	  

  

4

  

To confirm your agreement with these basic terms, please fax an executed copy of this Letter of Intent to Sanders Ortoli Vaughn-Flam Rosenstadt LLP, attention Steven A. Sanders, via email to sas@sovrlaw.com.

Agreed and confirmed:

SignalChem Lifesciences Corporation

By:      “Zahir Popat”                                                                          Date:07/10/2012 

Name: Zahir Popat

Title:  Chairman CEO

International Gold Corp.

By:      “Robert Baker”                                                                       Date:07/10/2012 

Name:  Robert Baker

Title:    President

Acknowledged by, and agreed to, in connection with those Sections entitled “Side Sale”, and “Applicable Law”:

Robert Baker

   cs “Robert Baker”           

Date:07/10/2012

Zahir Popat

  Cs “Zahir Popat”                                                      

Date: 07/10/2012

 

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