ARRANGEMENT AGREEMENT among ACORN ENERGY, INC., COREWORX INC. and DECISION DYNAMICS TECHNOLOGY LTD. Dated as of March 2, 2010Arrangement Agreement • March 22nd, 2010 • Acorn Energy, Inc. • Services-computer programming services • Ontario
THIS ARRANGEMENT AGREEMENT (this “Agreement”) is made as of March 2, 2010 by and among Acorn Energy, Inc., a Delaware corporation (“Parent”), Coreworx Inc., a corporation incorporated under the Business Corporations Act (Ontario) and a wholly-owned subsidiary of Parent (“Purchaser”) and Decision Dynamics Technology Ltd. a corporation incorporated under the Canada Business Corporations Act (the “Company”).
1. Basic Transaction Structure. The shareholders of GPL other than Buyer (the “GPL Shareholders”) will sell all of their Shares constituting all of the issued and outstanding shares of GPL other than those shares owned by Buyer and all of their GPL...Letter of Intent • March 22nd, 2010 • Acorn Energy, Inc. • Services-computer programming services • Delaware
The consideration to be furnished by Buyer to the GPL Shareholders for the GPL Debt will be US $1,128,339 plus the accrued and unpaid interest as of the date of Closing. One-half of such consideration for the GPL Debt will be payable in shares of common stock of Buyer as described below, and one-half of such consideration will be paid in cash at Closing.
