Exhibit
6.8
ENGAGEMENT
AGREEMENT
This
Engagement Agreement (this “Agreement”) is effective as of October 5th, 2022 (the “Effective Date”)
by
and
among The iRemedy Healthcare Companies, Inc. (“Issuer”), and OpenDeal Broker LLC dba the Capital R (“ODB”),
a New York limited liability company. Issuer and ODB are hereby referred to collectively as the “Parties” or individually
as a “Party”.
RECITALS
WHEREAS,
ODB is a FINRA registered private placement broker-dealer;
WHEREAS,
Issuer intends to issue certain securities in compliance with the Securities Act including, but not limited to,
exemptions from registration under the Securities Act, such as Rule 506(b), 506(c), Regulation S, and Regulation A/A+ to the extent described
on Schedule A (“Private Security(ies)”); and
WHEREAS,
Issuer wishes to engage ODB, and ODB wishes to accept such engagement, to host the offering(s) of the Private Securities (each an “Offering”
and if multiple, collectively the “Offerings”) and to perform related services with respect thereto.
NOW,
THEREFORE, in consideration of the foregoing and the mutual covenants and conditions set forth herein, and intending to be legally bound,
the Parties hereby agree as follows:
| 1.1 | “Action”
shall have the meaning set forth in Section 7.2 of this Agreement. |
| 1.2 | “Affiliate”
means any person that is directly or indirectly, through one or more intermediaries, Controlling,
Controlled by, or under common Control with, one of the Parties hereto. For purposes of this
definition, “Control” shall mean possessing, directly or indirectly, the power
to direct or cause the direction of the management, policies, and operations of a person,
whether through ownership of voting securities, by contract, or otherwise. |
| 1.3 | “Books
and Records” shall have the meaning set forth in Schedule B-1. |
| 1.4 | “Branding”
means trademarks, service marks, domain names, logos, links, navigation, and other indicators
of origin. |
| 1.5 | “Content”
means any or all text, images, video, audio, graphics, and other data, products, materials,
services, text, pointers, technology, code, language, functions, and software, including
Branding. |
| 1.6 | “Close”
and “Closing” means the time at which the terms of the Offering are met
for any Subscriber and the investment is deemed accepted and irrevocable. |
| 1.7 | “Disclosing
Party” shall have the meaning set forth in Section 5.1. |
| 1.8 | “Exchange
Act” means the Securities Exchange Act of 1934, as amended. |
| 1.9 | “Escrow
Agent” means either a (i) registered broker or dealer that carries customer or
broker or dealer accounts and holds funds or securities for those persons; or (ii) bank or
credit union (where such credit union is insured by National Credit Union Administration)
that has agreed in writing either to hold the funds in escrow for the persons who have the
beneficial interests therein and to transmit or return such funds directly to the persons
entitled thereto when so directed by ODB, or to maintain a bank or credit union account (or
accounts) for the exclusive benefit of investors and the issuer. |
| 1.10 | “Escrow
Account” means an account managed by an Escrow Agent for the benefit of the Offering. |
| 1.11 | “Fees”
shall have the meaning set forth in Section 3.1 of this Agreement. |
| 1.12 | “FINRA”
means the Financial Industry Regulatory Authority, Inc. or any successor thereto. |
| 1.13 | “Investor(s)”
means persons who subscribe to Issuer’s Offering and a Closing on such Offering occurs. |
| 1.14 | “Issuer
Branding” means all Branding (other than from ODB) used by Issuer and includes
any Branding provided by Issuer to ODB for use on the Private Placements Platform . |
| 1.15 | “Issuer
Content” means the Content owned by, licensed for use by, or otherwise permitted
to be used by Issuer in any manner, which for the avoidance of doubt shall in no event include
ODB Content. |
| 1.16 | “Issuer
Indemnified Parties” shall have the meaning set forth in Section 7.3 of
this Agreement. |
| 1.17 | “Issuer
Name” means, and includes, the name of Issuer or any of its Affiliates, or the
name of any member, stockholder, partner, manager, or employee of Issuer or any of its Affiliates,
or any trade name, trademark, logo, service mark, symbol or any abbreviation, contraction,
or simulation thereof owned or used by Issuer or any of its Affiliates. |
| 1.18 | “Issuer
Site” means those internet sites as set forth on Schedule A maintained by
the Issuer or an Affiliate of the Issuer for the purpose of offering the Private Securities. |
| 1.19 | “Law”
or “Legal Requirement” means any statute, law, ordinance, rule, or regulation,
or any order, judgment, directions, guidance or plan, of any court, arbitrator, department,
agency, authority, instrumentality, or other body, whether federal, state, municipal, foreign,
self-regulatory, or other that governs the activities of either of the Parties. |
| 1.20 | “Losses”
shall have the meaning set forth in Section 7.2 of this Agreement. |
| 1.21 | “Material”
means information that a reasonable Investor would consider important in deciding whether
or not to purchase the Private Securities. |
| 1.22 | “ODB
Branding” means all Branding (other than from Issuer) used by ODB and includes
any Branding provided by ODB to Issuer for use on the Issuer Site. |
| 1.23 | “ODB
Content” means the Content owned by, licensed for use by, or otherwise permitted
to be used by ODB in any manner, which for the avoidance of doubt shall in no event include
Issuer Content. |
| 1.24 | “ODB
Indemnified Parties” shall have the meaning set forth in Section 7.2 of
this Agreement. |
| 1.25 | “ODB
Name” means, and includes, the name of ODB or any of its Affiliates, or the name
of any member, stockholder, partner, manager, or employee of ODB or any of its Affiliates,
or any trade name, trademark, logo, service mark, symbol or any abbreviation, contraction,
or simulation thereof owned or used by ODB or any of its Affiliates. |
| 1.26 | “Offering”
means the offering, pursuant to a registration statement or an offering statement under the
Securities Act or an exemption therefrom, of Private Securities to Investors. |
| 1.27 | “Private
Placements Platform” means such technology owned, operated, or made available by
ODB, or an Affiliate of ODB, for Issuer’s use in the Offering on the website located
at xxxxx://xxxxxxxx.xx. |
| 1.28 | “Private
Security(ies)” shall have the meaning set forth in the Recitals. This definition
does not restrict the Parties to expand the scope of securities that may also include various
public offerings. |
| 1.29 | “SEC”
means the U.S. Securities and Exchange Commission. |
| 1.30 | “Securities
Act” means the Securities Act of 1933, as amended. |
| 1.31 | “Services”
shall have the meaning set forth in Section 2.1 of this Agreement. |
| 1.32 | “Subscriber”
means a prospective Investor that has not been Closed upon. Subscriber may be used interchangeably
with “Investor” in this Agreement. |
| 1.33 | “Term”
shall have the meaning set forth in Section 8.1 of this Agreement. |
| 2 | INTRODUCED
CUSTODIAL AND RELATED SERVICES |
| 2.1 | Offering
Listing and Broker-Dealer Services. ODB shall provide a landing page to Issuer’s
Offering on the Private Placements Platform and shall perform related services, including
broker-dealer services, with respect to the Issuer to the extent explicitly contemplated
by specific provisions contained in Schedule B-1 of this Agreement, and shall not
be responsible for any duties or obligations not specifically allocated to ODB pursuant to
this Agreement, which services shall be contingent upon Issuer meeting its obligations as
outlined in this Agreement including Schedule B-2, and as limited by Schedule C
of this Agreement (the “Services”). ODB may also, in its sole discretion,
take such actions as it deems reasonably necessary to perform due diligence or investigation
with respect to the Issuer and/or any Offering at any time and from time to time. |
| 2.3 | Modifications
to ODB Systems, Platforms and Operations. ODB upgrades and enhances its platform and
amends, modifies, and changes its operations and procedures on a consistent basis. ODB reserves
the right, therefore, in its sole discretion, to change or modify the Private Placements
Platform at any time and from time to time. |
| 2.4 | No
Discretionary Authority. Unless and only to the extent specifically described in any
separate agreement between ODB and the Issuer: (a) ODB shall, at all times, act solely in
a passive, non-discretionary capacity with respect to the Issuer and each Investor and shall
not be responsible or liable for any investment decisions or recommendations with respect
to the purchase or disposition of any Private Security or other assets; (b) ODB shall not
be responsible for questioning, investigating, analyzing, monitoring, or otherwise evaluating
any of the investment decisions of any Investor or reviewing the prudence, merits, viability,
or suitability of any investment decision made by any Investor, including the decision to
purchase or hold the Private Securities or such other investment decisions or direction that
may be provided by any individual or entity with authority over the relevant Investor; and
(c) ODB shall not be responsible for directing investments or determining whether any investment
by an Investor or any person or entity with authority to make investment decisions on Investor’s
behalf is acceptable under applicable Law. |
However,
ODB reserves the right to perform due diligence on and review suitability of each investor as required by regulation. Additionally, ODB
reserves the right to deny or oppose the transaction if ODB, in its sole discretion, believes or has reason to believe that the investment
is unsuitable for the investor, or if ODB believes or has reason to believe that the investor violated or may violate securities or anti-money
laundering laws, and the Issuer shall indemnify ODB for any such action taken by ODB.
| 2.5 | Offering
Terms. ODB will provide the Services in conformance with the terms of the Offering, including
providing the Services in conjunction with (i) an Escrow Agent or (ii) another third party
mutually agreed to by the Parties associated with such Offering. |
| 3.1 | Fees.
Issuer shall pay to ODB the fees specified in Schedule D to this Agreement (collectively,
“Fees”). Issuer agrees to pay any invoice provided by ODB within seven
(7) calendar days of receipt and understands that failure to make timely payment may result
in the Services being suspended, discontinued or withdrawn. |
|
4 |
NAMES,
BRANDS, WEBSITES AND CONTENT |
|
4.1 |
Use
of ODB Name, ODB Branding and ODB Content. Issuer shall not, and shall cause its representatives not to,
without the prior written consent of ODB: (a) use in advertising, publicity, or otherwise any ODB Name, ODB Branding, or ODB Content,
or (b) represent, directly or indirectly, that Issuer, any Affiliate of Issuer, or any representative of Issuer or the Private Securities
have been approved, endorsed, or recommended by ODB or any of its Affiliates. In addition, all use of the ODB Name, ODB Branding,
or ODB Content and all descriptive materials about the Services used by the Issuer on the Issuer Site or elsewhere, must be reviewed
and approved by ODB, as to appearance, substance, and placement, prior to use by Issuer. ODB may also require a “jump”
or other interstitial page in connection with any links or references to ODB or any of its websites or otherwise if deemed necessary
by ODB to ensure clear demarcation between any websites or content of ODB and any websites or content of Issuer. Issuer understands
that any breach hereof may also cause a breach of Law, and Issuer will be liable hereunder for any failure to obtain such prior approval
or otherwise comply with these provisions. |
| 4.2 | Use
of Issuer Name, Issuer Branding, and Issuer Content. ODB shall not, and shall cause its
representatives not to, without the prior written consent of Issuer use in advertising, publicity,
or otherwise any Issuer Name, Issuer Branding, or Issuer Content. In addition, all use of
the Issuer Name, Issuer Branding, or Issuer Content on the Private Placements Platform must
be reviewed and approved by Issuer, as to appearance, substance, and placement, prior to
use by ODB. Issuer may also require a “jump” or other interstitial page in connection
with any links or references to Issuer or any of its websites or otherwise to ensure clear
demarcation between any websites or content of Issuer and any websites or content of ODB.
ODB understands that any breach hereof may also cause a breach of Law, and ODB will be liable
hereunder for any failure to obtain such prior approval or otherwise comply with these provisions. |
| 4.3 | No
Responsibility for Issuer Site or Issuer Content. ODB is not preparing, endorsing, adopting,
reviewing, or approving in any way the Issuer Site or Issuer Content or any offering material,
including any offering memorandum, or any other materials of any kind prepared by Issuer
or on behalf of Issuer (even if prepared by ODB on behalf of Issuer) wherever it may appear,
except to the extent that the Issuer Site, Issuer Content, or other material specifically
references ODB, and has been approved by ODB in writing, and then only to the limited extent
of such reference. Notwithstanding the foregoing, in the event any of the information Issuer
provided on or through the Issuer Site, in Issuer Content, offering materials, or otherwise,
proves incorrect, outdated, or otherwise materially deficient, Issuer shall notify ODB within
twenty-four (24) hours of gaining knowledge of such occurrence and work in good faith to
amend the Issuer Site, Issuer Content, offering materials, and the like to the Parties’
mutual satisfaction. |
| 4.4 | No
License of Intellectual Property. No license or grant of any intellectual property of
any nature whatsoever, including any Branding or Content, or any data, business method, patents
or applications thereof, or similar material shall be deemed granted, licensed, or otherwise
from either Party (or any Affiliate thereof) to the other (or any Affiliate thereof) under
this Agreement except as provided in the event of a successful Offering, ODB may use
Issuer’s name and/or current logo to inform the general public of those certain clients
ODB has provided Services to. |
| 5 | CONFIDENTIAL
INFORMATION |
| 5.1 | Either
Party or their Affiliate (in either case a “Disclosing Party”) may disclose
to the other thereof (the recipient being the “Receiving Party”) certain
technical or other business information that is not generally available to the public, the
specific terms of this Agreement, and/or personal information relating to any person (specifically
including in the case of ODB, information relating to an Investor). All such information
is referred to herein as “Confidential Information”. Notwithstanding the foregoing,
the Books and Records as they pertain to the Private Securities (and with the permission
of the Investors with respect to any personally identifying information), will be made available
to Issuer, and shall be Confidential Information as to ODB, and xxxxxxx be used by Issuer
in accordance with Law or as otherwise authorized by the Investor to whom the information
pertains by affirmative or negative consent, as permitted. The Parties severally agree that
before a Disclosing Party shares Confidential Information with an Affiliate, such Affiliate
shall be bound by at least the same or greater confidentiality obligations with respect to
the Confidential Information, and at such time as the Affiliate is bound, the Affiliate may
also be considered a “Receiving Party”. |
| 5.2 | The
Receiving Party agrees to use Confidential Information solely in conjunction with its performance
under |
this
Agreement, in conducting an Offering, and or as otherwise authorized by the Investor to whom the information pertains by affirmative
or negative consent, as permitted, and not to disclose or otherwise use such information in any other fashion and to maintain such information
with at least the standard of care it uses to protect its own Confidential Information, but in no event less than a reasonable standard
of care.
| 5.3 | The
Receiving Party will not be required to keep confidential such Confidential Information to
the extent that it: (a) becomes generally available without fault on its part; (b) is already
rightfully in the Receiving Party’s possession prior to its receipt from the disclosing
Party; (c) is independently developed by the Receiving Party; |
(d)
is rightfully obtained by the Receiving Party from third parties; or (e) is otherwise required to be disclosed by Law.
| 5.4 | Information
related to this Agreement shall be deemed Confidential Information, but in the event either
Party wishes to disclose such information, such Party shall seek the prior written consent
of the other, and such consent shall not be unreasonably withheld. |
| 5.5 | Each
Party agrees not to disclose the Confidential Information without the prior written consent
of the other Party, which consent shall not be unreasonably withheld, unless required by
Law, including, but not limited to, regulatory or judicial requests for information (whether
formal or informal), or to assert its rights under this Agreement, and except for disclosure
on a “need to know basis” to its own employees, and its legal, investment, and
financial advisers, other professional advisers, or others as authorized by the Investor
to whom the information pertains by affirmative or negative consent, as permitted, on a confidential
basis (in each case pursuant to written agreements with each such person requiring it to
maintain such information as confidential to the same extent as if it were a party to this
Agreement). |
| 5.6 | This
Section 5 shall survive for a period of three (3) years beyond termination of this
Agreement, except with respect to Confidential Information that is personal or identifying
information regarding or relating to an Investor, in
which case this Section 5 shall be indefinite, unless in the case of Issuer, such disclosure
is authorized by the relevant Investor in connection with the Private Securities and
in the case of ODB, is otherwise permitted by Law. |
| 6 | REPRESENTATIONS,
WARRANTIES AND COVENANTS |
| 6.1 | Mutual
Representations, Warranties and Agreements. Each Party represents and warrants to the
other Party that: |
a.
it is duly organized and validly existing under the laws of the jurisdiction of its establishment;
| b. | it
has the full power and authority to enter into this Agreement and to perform its obligations
under this Agreement; |
| c. | it
has obtained all material consents and approvals and taken all actions necessary for it to
validly enter into and give effect to this Agreement and to engage in the activities contemplated
and perform its obligations under this Agreement; |
| d. | this
Agreement will, when executed, constitute lawful, valid, and binding obligations on it, enforceable
in accordance with its terms; |
| e. | it
is understood that no sale of the Private Securities shall be regarded as effective unless
and until accepted by the Issuer and the Issuer reserves the right, in its sole discretion,
to reject any subscription for Private Securities under a subscription agreement in whole
or in part; and |
| f. | neither
the execution and delivery of this Agreement, nor the performance by such Party of its obligations
hereunder, will (i) violate any Legal Requirement; (ii) require any authorization, consent,
approval, exemption or other action by or notice to any government entity; or (iii) violate
or conflict with, or constitute a default (or an event which, with notice or lapse of time,
or both, would constitute a default), under the governing documents of such Party or any
contract, commitment, understanding, arrangement, agreement, or restriction of any kind or
character to which such Party is a party to or by which such Party or any of its assets or
properties may be bound or affected. |
| 6.2 | Issuer
Representations, Warranties and Covenants. Issuer represents, warrants, and covenants
to ODB that: |
| a. | the
Private Securities are, and during the Term shall remain, registered or exempt from the registration
requirements of the Securities Act, and the rules and regulations promulgated thereunder,
and are, and during the Term shall remain, registered or exempt from the registration requirements
of any state where Issuer from time to time will offer such securities; |
| b. | it
will not, during the Term, either (i) act as a “broker” or “dealer”
as those terms are defined under the Exchange Act or otherwise act in a capacity under any
other Law that is not permitted, unless pursuant to an applicable exemption, or provide investment
advice with respect to any Investor or (ii), with respect to any Investor, hold or have access
to any funds or securities, or extend credit for the purpose of purchasing securities through
ODB, including specifically the Private Securities; and |
| c. | Issuer
owns the Issuer Branding, Issuer Site, and Issuer Content and/or has the right to grant the
licenses and/or rights of use as contemplated by this Agreement. |
| 6.3 | ODB
Representations, Warranties and Covenants. ODB represents, warrants, and covenants to
Issuer that: |
| a. | it
is, and during the term of this Agreement will remain, duly registered and in good standing
as a broker- dealer with the SEC and is a member firm in good standing with FINRA; |
| b. | it
has obtained and currently maintains all applicable state licenses and registrations necessary
to perform the services described herein and to receive compensation hereunder, and, in performing
such services, will comply with all applicable state laws relating to the Offering; |
| c. | neither
ODB, nor any managing member of ODB, nor any director or executive officer of ODB, or other
officer of ODB participating in the Offering, is subject to the disqualification provisions
of Rule 262 of Regulation A under the Securities Act. No registered representative of ODB
or any other person being compensated by or through ODB for the solicitation of investors,
is subject to the disqualification provisions of Rule 262 of Regulation A; and |
| d. | ODB,
with its Affiliates, owns the ODB Branding, Private Placements Platform, and ODB Content
and/or has the
right to grant the licenses and/or rights of use as contemplated by this Agreement. |
| 6.4 | Disclaimer
of Warranties. THE SERVICES ARE PROVIDED ON AN “AS IS” AND “AS AVAILABLE”
BASIS. ODB SPECIFICALLY DISCLAIMS ANY AND ALL WARRANTIES FOR THE SERVICES, EXPRESS OR IMPLIED,
INCLUDING IMPLIED WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE. NEITHER
ODB NOR ANY AFFILIATE OF ODB WARRANTS THAT THE SERVICE WILL MEET ISSUER’S OR ANY INVESTOR’S
REQUIREMENTS OR THAT THE SERVICES WILL BE UNINTERRUPTED OR ERROR-FREE. NO ORAL OR WRITTEN
INFORMATION GIVEN BY ODB OR ITS AFFILIATES SHALL CREATE ANY WARRANTIES OR IN ANY WAY INCREASE
THE SCOPE OF ODB’S OBLIGATIONS HEREUNDER. |
| 7 | LIMITATIONS
OF LIABILITY; INDEMNIFICATION |
| 7.1 | Limitation
of Liability. IN NO EVENT SHALL EITHER PARTY BE LIABLE TO ANOTHER PARTY FOR ANY SPECIAL,
INDIRECT, CONSEQUENTIAL, PUNITIVE, OR EXEMPLARY DAMAGES OF ANY NATURE, EVEN IF SUCH PARTY
SHALL HAVE BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. THE FOREGOING SHALL APPLY REGARDLESS
OF THE NEGLIGENCE OR OTHER FAULT OF ANY PARTY AND REGARDLESS OF WHETHER SUCH LIABILITY SOUNDS
IN CONTRACT, NEGLIGENCE, TORT, STRICT LIABILITY, OR ANY OTHER THEORY OFLIABILITY. |
| 7.2 | ODB
Indemnification. Issuer agrees to indemnify, defend, and hold ODB and its Affiliates
and their respective officers, directors, agents, and employees (each a “ODB Indemnified
Party” or, collectively, “ODB Indemnified Parties”) harmless
against any investigation, claim, action, or proceeding (including a regulatory inquiry,
whether formal or informal, or any arbitration or court
action) (“Action”) brought by an Investor, court, regulator, or
self-regulatory organization asserting jurisdiction over the ODB Indemnified Party or by
any other party against any ODB Indemnified Party if such Action relates to the Issuer, any
Affiliate of Issuer, the Private Promptly after receipt by a ODB Indemnified Party of notice
of any claim or the commencement of any Action with respect to which a ODB Indemnified Party
is entitled to indemnity hereunder, ODB will notify Issuer in writing of such claim or of
the commencement of such Action, and the Issuer, if requested by the ODB Indemnified Party,
will assume the defense of such Action and will employ counsel reasonably satisfactory to
the ODB Indemnified Party and will pay the fees and expenses of such counsel, provided that
any failure to promptly notify Issuer shall not affect the indemnification right of a ODB
Indemnified Party, except to the extent that the Issuer is materially prejudiced by such
failure. Notwithstanding the preceding sentence, the ODB Indemnified Party will be entitled
to employ counsel separate from counsel for the Issuer and from any other party in such action
if counsel for the ODB Indemnified Party reasonably determines that it would be inappropriate
or ill-advised for the same counsel to represent both Parties. In such event, the reasonable
fees and disbursements of no more than one such separate counsel will be paid by the Issuer,
in addition to local counsel. If the ODB Indemnified Party elects the Issuer to assume the
defense of such Action, Issuer will have the exclusive right to settle the claim or proceeding,
provided that Issuer will not settle any such claim or Action without the prior written consent
of the ODB Indemnified Party, which consent shall not be unreasonably withheld. If the ODB
Indemnified Party assumes the defense (with payment of any related costs and expenses by
Issuer), the ODB Indemnified Party will have the exclusive right to settle the claim or proceeding,
provided that the ODB Indemnified Party will not settle any claim or Action without the prior
written consent of the Issuer, which consent shall not be unreasonably withheld. |
| 7.3 | Issuer
Indemnification. ODB agrees to indemnify, defend, and hold Issuer and its Affiliates
and their respective officers, directors, agents, and employees (each an “Issuer
Indemnified Party” and, collectively, “Issuer Indemnified Parties”)
harmless against any Action brought by an Investor, Investor, court, or regulator asserting
jurisdiction over the Issuer Indemnified Party or by any other party against any Issuer Indemnified
Party relating to ODB, any Affiliate of ODB or the Services, insofar as the Action arises
out of or is based upon (a) any material breach or alleged Material breach of any of ODB’s
representations, warranties, covenants, or agreements hereunder and including any representations,
warranties, covenants, or agreements contained in the Schedules to this Agreement; and (b)
infringement or misappropriation by ODB of any third party’s property and/or intellectual
property rights, including, but not limited to, patents, trademarks, copyrights, trade secrets,
and publicity rights. Further, ODB shall indemnify the Issuer Indemnified Parties against
all Losses incurred by or levied or brought against the Issuer Indemnified Parties arising
out of, or related to, Actions warranting indemnification pursuant to this Section 7.3
as such Losses arise.
Promptly
after receipt by an Issuer Indemnified Party of notice of any claim or the commencement of
any Action with respect to which an Issuer Indemnified Party is entitled to indemnity hereunder,
Issuer will notify ODB in writing of such claim or of the commencement of such Action, and
ODB, if requested by the Issuer Indemnified Party, will assume the defense of such Action
and will employ counsel reasonably satisfactory to the Issuer Indemnified Party and will
pay the fees and expenses of such counsel, provided that any failure to promptly notify ODB
shall not affect the indemnification rights of an Issuer Indemnified Party except to the
extent that ODB is materially prejudiced by such failure. Notwithstanding the preceding sentence,
the Issuer Indemnified Party will be entitled to employ counsel separate from counsel for
ODB and from any other party in such action if counsel for the Issuer Indemnified Party reasonably
determines that it would be inappropriate or ill-advised for the same counsel to represent
both Parties. In such event, the reasonable fees and disbursements of no more than one such
separate counsel will be paid by ODB, in addition to local counsel. If the Issuer Indemnified
Party elects ODB to assume the defense of such Action, ODB will have the exclusive right
to settle the claim or proceeding, provided that ODB will not settle any such claim or Action
without the prior written consent of the Issuer Indemnified Party, which consent shall not
be unreasonably withheld. If the Issuer Indemnified Party assumes the defense (with payment
of any related costs and expenses by ODB), the Issuer Indemnified Party will have the exclusive
right to settle the claim or proceeding, provided that the Issuer Indemnified Party will
not settle any claim or Action without the prior written consent of ODB, whichconsent shall
not be unreasonably withheld, delayed, or conditioned. |
| 7.4 | No
Claim Preclusion. Nothing in this Section shall be construed to preclude either Party
from making any claim against the other arising out of a failure to perform obligations under
this Agreement. Neither Party shall be precluded from claiming or commencing an action for
contribution to any amounts the other may be required or otherwise agreed to be paid to an
Investor or other third party, including a regulator, with jurisdiction over the Services. |
| 8.1 | Term.
This Agreement shall be effective on the Effective Date and continue in force until the later
of (i) so long as the Private Securities remain on the
Private Placements Platform or (ii) all fees due to ODB pursuant to Section 3 have
been remitted in full (the “Term”), unless otherwise terminated pursuant
to the provisions of this Section |
8.
For the avoidance of doubt, an Offering’s failure to meet its terms shall constitute the time at which ODB may elect, without recourse,
to remove the Private Securities from the Private Placements Platform.
| 8.2 | Termination
Without Cause. This Agreement may be terminated without cause by either Party, upon thirty
(30) days prior written notice, provided that such termination notice may not be given until
at least ninety (90) days after the launch of the Offering on the Private Placement Platform. |
| 8.3 | Termination
for Regulatory, Legal, Reputational, or Other Risks. |
| a. | In
the event that any due diligence or investigation results in findings that would pose regulatory,
legal, reputational, or other risks to ODB, ODB shall provide Issuer notice of such risks
and a reasonable opportunity to cure them. If the risks are not addressed or cured to ODB’s
reasonable satisfaction, ODB may terminate this Agreement. |
| b. | In
ODB’s sole discretion, if the risks described in 8.3(a) are of sufficient size, significance,
or immediacy that a delay in termination of this Agreement would be inappropriate, ODB may
terminate this Agreement immediately. |
| 8.4 | Termination
for Cause or Insolvency. Either Party may terminate this Agreement immediately if the
other Party: |
| a. | is
in breach of any material obligation herein or in the Schedules attached to this Agreement,
and (i) such breach is incapable of being cured, or (ii) if such breach is capable of cure,
such breach is not cured within thirty (30) days after receipt of written notice of such
breach from the non-breaching Party, or within such additional cure period as the non-breaching
Party may authorize; |
| b. | voluntarily
or involuntarily becomes the subject of a petition in bankruptcy or of any proceeding relating
to insolvency, receivership, liquidation, or composition for the benefit of creditors; |
| c. | admits
in writing its inability to pay its debts as they become due; |
| d. | fails
to provide notice and take corrective action, as specified in Section 4.3. |
| 8.5 | Termination
for Force Majeure. In the event of a force majeure that lasts longer than thirty (30)
days from the date that a Party claiming relief due to the force majeure event gives notice
to the other Party, the Party not claiming relief under the force majeure event may terminate
this Agreement upon written notice to the other Party. For the avoidance of doubt, the COVID-19
pandemic does not constitute a force majeure event. |
| 8.6 | Compliance
with Laws. If at any point during the Term, either Party’s performance under this
Agreement conflicts or threatens to conflict with any Legal Requirement, such Party may suspend
performance under this Agreement and negotiate in good faith to amend this Agreement so that
each Party’s performance hereunder complies with such Legal Requirement. If after thirty
(30) days, the Parties are unable to agree on a mutually acceptable amendment, either Party
may immediately terminate this Agreement upon written notice to the other Party. |
| 8.7 | Actions
Upon Termination. Upon the termination of this Agreement, Issuer shall remove all references
to any ODB Name, ODB Branding, and ODB Content from the Issuer Site or Issuer Content and
shall terminate all links on the Issuer Site to any Private Placements Platform. ODB shall
remove all references to Issuer Name, Issuer Branding, and Issuer Content and shall terminate
all links on the Private Placements Platform to any Issuer Site. Each Party shall promptly
return all Confidential Information, documents, manuals, and other materials stored in any
form or media (including, but not limited to, electronic copies) belonging to the other Party,
except as may be otherwise provided in this Agreement or required by Law. |
| 8.8 | Termination
Fee. Termination Fees are set forth in Schedule D. |
| 8.9 | Cooperation.
In all events, if there are one or more Investors at the time of termination, the Parties
will cooperate in planning and implementing an orderly transition of the custody of the Private
Securities to such person designated by the Issuer authorized under applicable Law to assume
custody of the securities, or to the Issuer itself if it is authorized to hold such securities
in custody, or to such other person selected by ODB if Issuer does not so select such person
within a reasonable period, but not to exceed ninety (90) days. In all events, Issuer shall
pay the reasonable costs of such transition. As part of such a transition, the Parties agree
to seek the affirmative or negative consent of Investors to the sharing of Confidential Information
necessary for their transition. |
| 9.1 | Arbitration
Proceedings Disclosure. The Parties hereby agree that any controversy under or in
connection with this Agreement will be subject to arbitration and agree and acknowledge the
following with respect to arbitration proceedings: |
| a. | Arbitration
is final and binding on the Parties; |
| b. | The
Parties are waiving their right to seek remedies in court, including the right to a jury
trial; |
| c. | Pre-arbitration
discovery generally is more limited than and different from court proceedings; |
| d. | The
arbitrators’ award is not required to include factual findings or legal reasoning;
and |
| e. | A
Party’s right to appeal or to seek modification of rulings by the arbitrators is strictly
limited. |
| 9.2 | Arbitration
Agreement. Any controversy between the Parties arising out of this Agreement shall be
submitted to arbitration and conducted before FINRA Dispute Resolution before a panel of
three arbitrators and in accordance with FINRA rules. Arbitration must be commenced by service
upon the other Party of a written demand for arbitration or a written notice of intention
to arbitrate. Proceedings and hearings will take place in New York, New York. Both Parties
waive any right that either of them may have to institute or conduct litigation or arbitration
in any other forum or location, or before any other body. Arbitration is final and binding
on both Parties. An award rendered by the arbitrator(s) may be entered in any court of applicable
jurisdiction over the Parties. Each party shall bear its own expenses, including legal
fees and disbursements, and the costs of that arbitrator shall be borne one half by each
party. Each party shall choose one arbitrator and the chosen arbitrators shall select the
third arbitrator; provided that if the chosen arbitrators are unable to select the third
arbitrator, such arbitrator shall be selected in accordance with the rules of FINRA. An award
rendered by the arbitrator(s) shall be selected in any court of applicate jurisdiction of
the Parties. |
10 | GENERAL
TERMS AND CONDITIONS |
| 10.1 | Compliance
with Law. Each Party shall comply with any Legal Requirement applicable to the performance
of its obligations hereunder. |
| 10.2 | Non-exclusive
ODB Relationship. ODB reserves the right, without obligation or liability to the Issuer,
to market and provide either directly, through other parties, or through any other type of
distribution channel, services to others that are the same as or similar to the Services. |
| 10.3 | No
Agency. Neither Party is an agent, representative, or partner of the other Party. Neither
Party shall have any right, power, or authority to enter into any agreement for or on behalf
of, or to incur any obligation or liability for, or to otherwise bind the other Party. This
Agreement shall not be interpreted or construed to create an association, joint venture,
co-ownership, co-authorship, or partnership between the Parties or to impose any partnership
obligation or liability upon either Party. |
| 10.4 | Amendments
and Modifications. No change, amendment, or modification of any provision of this Agreement
will be valid unless set forth in writing and signed by the Parties. |
| 10.5 | Assignment.
Issuer shall not assign, sublicense, or otherwise transfer this Agreement or any right, interest,
or benefit hereunder, except by operation of law, without the prior written consent of ODB,
which consent may be withheld in ODB’s sole discretion. ODB shall have the right to
assign, sublicense, or otherwise transfer this Agreement or any right, interest, or benefit
hereunder, including an assignment by operation of law, to any affiliate of ODB that is properly
authorized under applicable Law to provide the Services by giving notice to Issuer within
thirty (30) days of any of the actions listed herein. In the event ODB merges with or is
otherwise combined with another registered broker dealer, upon reasonable notice, this Agreement
shall automatically transfer to the successor of ODB provided such transfer does not materially
prejudice the Issuer. |
| 10.6 | Governing
Law. This Agreement shall be interpreted, construed, and enforced in all respects in
accordance with the laws of the State of New York, except with respect to the choice of law
provisions therein or to the extent inconsistent with FINRA Rules applicable to an arbitration
proceeding under Section 9 above. |
| 10.7 | No
Waiver. The failure of either Party to insist upon or enforce strict performance by the
other Party of any provision of this Agreement, or to exercise any right under this Agreement,
shall not be construed as a waiver or relinquishment to any extent of such Party’s
right to assert or rely upon any such provision or right in that or any other instance; rather
the same shall be and remain in full force and effect. |
| 10.8 | Notice.
Any notice required or permitted under this Agreement shall be in writing and delivered to
the receiving Party’s principal place of business as set forth on the signature block
to this Agreement in a manner contemplated in this Section and addressed to the attention
of its General Counsel, Chief Compliance Officer, or equivalent. Notice shall be deemed duly
given (a) if delivered by hand, when received; (b) if transmitted by email, upon confirmation
that the entire document has been successfully received; (c) if sent by recognized overnight
courier service, on the business day following the date of deposit with such courier service
so long as the deposit was made by that overnight courier service’s deadline or on
the second business day following the date of deposit if after that overnight courier service’s
deadline; or (d) if sent by certified mail, return receipt requested, on the third business
day following the date of deposit in the United States mail. |
| 10.9 | Entire
Agreement. This Agreement and the Schedules hereto and incorporated herein by reference
constitute the entire agreement between the Parties and supersede any and all prior agreements
or understandings between the Parties with respect to the subject matter hereof. Neither
Party shall be bound by, and each Party specifically objects to, any term, condition, or
other provision or other condition which is different from or in addition to the provisions
of this Agreement (whether or not it would Materially alter this Agreement) and which is
proffered by the other Party in any purchase order, correspondence, or other document, unless
the Party to be bound thereby specifically agrees to such provision in writing. |
| 10.10 | Severability;
Survival. In the event that any provision of this Agreement conflicts with the law under
which this Agreement is to be construed, or if any such provision is held invalid by a court
with jurisdiction over the Parties to this Agreement, such provision shall be deemed to be
restated to reflect as closely as possible the original intentions of the Parties in accordance
with applicable Law, and the remainder of this Agreement shall remain in full force and effect.
All provisions herein that by their terms or intent are to survive the termination of this
Agreement shall so survive, specifically including Sections 3, 5, 6, 7 and 9. |
| 10.11 | Headings.
The headings used in this Agreement are for convenience only and are not to be construed
to have legal significance. |
| 10.12 | Third
Parties. This Agreement is between the Parties hereto and is not intended to confer any
benefits on third Parties including, but not limited to, Investors. |
| 10.13 | Force
Majeure. Neither Party will be liable for delay or default in the performance of its
obligations under this Agreement if such delay or default is caused by conditions beyond
its reasonable control, including, but not limited to, fire, flood, accident, earthquakes,
telecommunications line failures, storm, acts of war, riot, acts of terrorism, government
interference, strikes and/or walk-outs. For the avoidance of doubt, the COVID-19 pandemic
does not constitute a force majeure event. In addition, ODB shall not be responsible for
downtime or other problems with any website, including the ODB website, caused by any public
or third-party private network, including the Internet or any communications carrier network,
or computer hardware or software problems regardless of whether they arise in the ordinary
course of business or constitute extraordinary events. |
This
Agreement contains an arbitration agreement.
IN
WITNESS HEREOF, the Parties hereto have caused this Agreement to be executed by duly authorized officers or representatives as of the
Effective Date.
ODB: OpenDeal
Broker LLC d/b/a the Capital R
By:
/s/ Xxxxxx Xxxxx
Xxxxxx
Xxxxx, Chief Compliance Officer
Address:
1345 Avenue of the Xxxxxxxx, Xxxxx 00, Xxx Xxxx, XX 00000 Email: Xxxxxx@xxxxxxxxxxx.xx
Issuer: The
iRemedy Healthcare Companies, Inc.
By:
/s/ Xxxxxxx Xxxxxx
Xxxx
Xxxxxx, Chief Executive Officer
Address:
0000 X. Xxxxxx Xxx, Xxxxxx XX 00000 Email: Xxxx@xXxxxxx.xxx
SCHEDULE
A – Private Securities and Internet Sites Used for Offering Such Securities
| 1. | Description
of the Securities and the registration exemptions such Private Securities are offered under. |
Securities:
Equity Securities Regulation Exemption: Regulation A+
| 2. | URLs
for Internet Sites Used for directing potential Investor to the Offering of such Securities
or N/A: |
SCHEDULE
B-1 – Private Placement Platform
Pursuant
to Section 2.1 of the Agreement, ODB agrees to provide, perform, or make available the following to Issuer:
| 1. | Execution
of Private Securities. After the Issuer has successfully closed on an Investor’s
subscription, ODB will, in the ordinary course and consistent with ODB’s policies and
procedures as in existence from time to time, provide technical services to allow the Issuer
to execute and deliver evidence of the Private Securities to the relevant Investor. |
| 2. | Use
of the ODB Private Placements Platform. ODB will make tools available to Issuer for the
Issuer to perform, or ODB to perform on behalf of Issuer, the following activities with respect
to the Private Placements Platform: |
| a. | display
information regarding the Offering as provided and instructed by the Issuer or an agent of
the Issuer, including, but not limited to, the number of units of the Private Securities
available, price, and terms provided ODB shall not update such Offering information
more frequently than every sixty (60) calendar days unless there has been a Material change
requiring such; |
| b. | enable
Investors to view such documents as the Issuer has created and determined to make available
to potential investors relating to the Private Securities, including, but not limited to,
an offering circular or a private placement memorandum and subscription agreement or other
similar offering materials; |
| c. | provide
Issuer with Investors’ (i) information relating to their qualifications to purchase
the Private Securities and (ii) completed subscription requests; |
| d. | verify
that an Investor has the appropriate status to purchase the Private Securities based on the
status requirements specified by the Issuer on the Private Placement Platform (in connection
with such verification, ODB relies solely on the information or documents with respect to
net worth or income as provided by such Investor to ODB, on the representation of verified
status from a certified public accountant, licensed attorney, or other person reasonably
capable of providing such attestation, or such other third party services that ODB reasonably
believes can provide such verification. ODB cannot and will not represent or warrant that
such information or documents are accurate or complete, and disclaims liability for any determination
by ODB of such status in reliance on such information, documents, or representations to the
extent that ODB has a reasonable belief that it has relied in good faith on such information
or attestation or service); ODB will provide a mechanism for the Issuer to review, accept,
or reject subscribers to its offering; |
| e. | provide
Investors with a mechanism to view the status of their subscription and the date that the
issuer has set for cash required for closing; |
| f. | record
identifying information regarding Investors and their holdings; and |
| g. | provide
services that allow an Investor to send consideration for the Private Securities either to
an escrow agent (in which case a separate escrow fee agreement between such escrow agent
or other payments processor and the Parties must be entered in to) or directly to the Issuer,
as determined by the Parties provided in the event consideration is sent to an escrow
agent, unless waived by ODB, closings shall (i) occur no more frequently than every twenty
eight (28) calendar days and (ii) when no less than (A) $50,000 is dispersible (if the Offering
is conducted pursuant to Reg D or S), (B) $100,000 is dispersible (if the Offering is conducted
pursuant to Reg A/A+) or (C) such other amount mutually agreed to by ODB and Issuer. |
| 3. | Broker
Services. ODB will provide the following additional services, as required: |
| a. | To
the extent that there are Investors in Alabama, Arizona, Florida, New Jersey, North Dakota,
Texas, Washington, or any other state in which the Issuer would be required to register as
an “Issuer Dealer” prior to making any offers or sales in such state, ODB will
act as accommodating broker of record with respect to sales of the Private Securities in
those states; and |
| b. | review
investor information, including KYC (Know Your Customer) data, perform AML (Anti-Money Laundering)
and other compliance background checks, and provide a recommendation to the Issuer, vis a
vis KYC and AML standards, as to whether or not to accept an investor’s subscription
for Private Securities. |
SCHEDULE
B-2 – Obligations of Issuer in Connection with Services
Notwithstanding
the Services as provided under the Agreement, Issuer is solely responsible for maintaining all records of Private Securities and for
maintaining accurate and complete records of the aggregate total units of Private Securities sold and redeemed by Issuer through the
ODB Private Placements Platform. Pursuant to its obligations, Issuer shall:
| 1. | based
upon the data, documents, and materials (“collectively the “Books and Records”)
provided by ODB or an Affiliate of
ODB, or contracted third-party vendor from time to time, maintain an accurate and complete
record on its official books and records of the number of units (which may be in aggregate
if permitted by Law) of Private Securities held by Investors; |
| 2. | maintain
an accurate and complete record on its official books and records of the number of units
of Private Securities, if any, held by ODB for ODB’s own benefit, or if certificated,
deliver to ODB an original, duly issued, and outstanding unit certificate in the name of
“ODB Capital Corporation” in an amount equal to the number of units of Private
Securities held by ODB; |
| 3. | provide
ODB, pursuant to such methods as ODB may reasonably require, with the details of, and all
monies associated with any dividend, interest, principal, or other payment due to Investors
and a detailed record of the recipients and amounts to be credited thereto, along with any
tax reporting codes, in a manner required by ODB from time to time in order for ODB to credit
Investors with such payments on a timely basis and to produce relevant tax documentation
therefrom (it is agreed that Issuer shall produce or cause to be produced by third parties
on behalf of Issuer, at Issuer’s expense, any Schedule K-1’s or similar documents
for delivery by ODB to Investors), and; |
| 4. | provide
to ODB, in such form and at such time as ODB may reasonably request, a copy of any documentation,
memoranda, agreements, or other documents or information that ODB believes is necessary for
it to satisfy any filing, reporting, or other applicable legal requirements it may have relating
to the custody of the Private Securities. |
SCHEDULE
C – Services Specifically NOT Provided
Notwithstanding
anything to the contrary contained in these Schedules or this Agreement, unless otherwise specifically agreed to in this Agreement or
in a separate written agreement between the Parties, the following services specifically are NOT provided by ODB or any Affiliate of
ODB under this Agreement:
| 1. | No
Investment Banking, Underwriting, Advice, or Advisory Service. ODB is not providing investment
banking or underwriter services to Issuer, acting as an underwriter or selling group member,
and has no role in the issuance of the Private Securities. ODB is not providing any advice
or advisory services in connection with the Services as set forth in Schedule B, is
not recommending the Private Securities or the Offering, and is not making any suitability
determinations with respect to any Investor. ODB is not committing to and does not intend
to purchase any of the Private Securities for its own account or that of an Affiliate. |
| 2. | No
Approval of Issuer Content. ODB is not preparing, endorsing, adopting, or approving in
any way any offering memoranda or other offering documents, SEC, state, or other regulatory
filings, or any sales or marketing material or Issuer Content, specifically including any
Issuer Sites, or any other material or Content of any kind wherever they may appear except
to the extent that such websites, material, or Content specifically reference the ODB Name,
ODB Branding, ODB Content, or descriptive materials about the Services, and then only to
the extent of such references, and specifically not including other portions of such website
or materials, provided ODB reserves the right to reject Issuer Content it deems non-compliant. |
| 3. | No
Setting, Reviewing, or Guaranteeing of Price, Tax, or Other Data. ODB is not setting,
calculating, creating, approving, endorsing, adopting, reviewing, recommending, or guaranteeing
any price for the Private Securities or giving any opinion with respect to the accuracy,
reliability, or completeness of any data or information about the Private Securities appearing
on a Private Placements Platform or elsewhere. ODB is relying on the Issuer for all such
data and information. ODB is not preparing or calculating any tax statements or documentation
on behalf of Issuer, specifically including Schedule K-1s, except for those tax documents
normally and usually included as part of a brokerage account (including, but not limited
to, 1099s). |
| 4. | No
Offering of Issuer Securities. Except with respect to acting as accommodating broker
in accordance with the provisions of Schedule B-1 of this Agreement, ODB is not selling,
distributing, offering for sale or marketing, or participating in any sale, distribution,
offer, or marketing, in any way the Private Securities under this Agreement. |
SCHEDULE
D – Fees and Other Costs
| 1) | Cash
Commission. Five percent (5.0%) of the dollar value of the Private Securities issued
to Investors pursuant to each Offering at the time of closing (the “Cash Commission”). |
| 2) | Private
Securities Commission. ODB will be entitled to a Securities commission (the “Private
Securities Commission”) equivalent to two percent (2.0%) of the dollar value of
the Private Securities issued to Investors pursuant to each Offering at the time of closing.
ODB will comply with Lock-Up Restriction required by FINRA Rule 5110(e)(1), not selling,
transferring, assigning, pledging, or hypothecating, or subjecting such to any hedging, short
sale, derivative, put, or call transaction that would result in the effective economic disposition
of the Private Securities Commission for a period of 180 days beginning on the date of commencement
of sales of the public equity offering with respect to the Private Securities Commission,
unless FINRA Rule 5110(e)(2) applies. Pursuant to FINRA Rule 5110(g), ODB will not accept
a Private Securities Commission in options, warrants, or convertibles which violates 5110(g)
including, but not limited to, (a) is exercisable or convertible more than five (5) years
from the commencement of sales of the public offering; (b) has more than one demand registration
right at the issuer's expense; (c) has a demand registration right with a duration of more
than five (5) years from the commencement of sales of the public offering; (d) has a piggyback
registration right with a duration of more than seven (7) years from the commencement of
sales of the public offering; (e) has anti-dilution terms that allow the participating members
to receive more shares or to exercise at a lower price than originally agreed upon at the
time of the public offering, when the public shareholders have not been proportionally affected
by a stock split, stock dividend, or other similar event; or (f) has anti-dilution terms
that allow the participating members to receive or accrue cash dividends prior to the exercise
or conversion of the security. |
| 3) | Fee
for Termination Prior to Closing. If after ODB has setup an Offering to be displayed
on the Private Placements Platform and the Issuer has met the minimum investment amount necessary
to perform a closing, or the Issuer cancels or decides not to pursue the offering prior to
the final closing of the Offering, the Issuer shall immediately pay to ODB the greatest of
(a) $25,000; (b) all out of pocket costs incurred by ODB in enabling the Offering to be listed
on the Private Placements Platform; or (c) a dollar amount equal to the Cash Commission listed
in section 1 of this Schedule D based upon the dollar value of the maximum amount of securities
that is offered under the Offering; except that if circumstances beyond the control of the
Issuer make a closing impossible, then this Fee for Termination Prior to Closing will not
apply. For the avoidance of doubt, if the Issuer has not made such best efforts and a closing
is possible but the Issuer then terminates an Offering, such fee shall apply provided
that no fee shall be due under this provision in the event termination is for cause due
to ODB’s uncured breach. |
| 4) | Termination
Fees. For terminations pursuant to Sections 8.2(a), 8.3(a) or 8.4(a), Issuer shall at
the date of termination pay the greater of (a) $25,000, or (b) the current number of Investors
of Private Securities as established at the time of termination or transition, multiplied
by $25, provided that no Termination Fee shall be due under this provision in the
event termination is for cause due to ODB’s uncured breach. The Issuer Parties shall
be jointly and severally liable for any Termination Fees. |
| 5) | Non-Accountable
Expenses. Non-accountable expenses shall be limited to one-half percent (0.5%) of the
Offering’s proceeds to ODB. |
| 6) | Ancillary
Fees; Financial Consulting and Advisory Fees. No ancillary fees; financial consulting
or advisory fees, will be payable by Issuer without its written consent and cannot exceed
$30,000 under any circumstances. |
| 7) | Marketing
Fee. If the Issuer elects for one or more of ODB’s affiliates to provide marketing
support to an Offering, a five-thousand-dollar ($5,000) fee per Offering (each a “Marketing
Fee”) shall apply and shall be collected by ODB and passed through to an affiliate
for such services. |
| 8) | Payment
Processing Fees and Escrow Agent Fees. The Issuer shall be responsible for all fees associated
with payment processing. For the avoidance of doubt, payment processing fees associated with
Stripe Inc., BitPay Inc., and other third party service providers shall be pass through directly
to the Issuer without markup. In the event Issuer’s Offering requires an Escrow Account,
Issuer shall pay a fee of fifteen hundred dollar ($1,500) to ODB, which is the cost ODB incurs
to open and facilitate such Escrow Account, such fee to be passed through to an affiliate
which manages an omnibus Escrow Agent relationship. |
| 9) | Fees
to Investors. ODB generally will not charge fees to Investors unless otherwise agreed
to by the Parties. |