Incredimail 2011 Annual Report Download - page 180

(f) No Person is renegotiating, or has a right pursuant to the terms of any Material Agreement to renegotiate, any amount paid or payable to
the Company under any Material Agreement or any other material term or provision of any Material Agreement.
(g) Part 2.10(g)
of the Disclosure Schedule identifies and provides a brief description of each proposed bid, offer, award, written proposal,
term sheet or similar document has been submitted or received by the Company regarding an Acquisition Transaction since December 31, 2006 which is still pending
except where disclosure of such terms or the existence of such proposed Acquisition Transaction (except Company Stock Options issued pursuant to the Stock Option
Plans) is prohibited by confidentiality agreements.
2.11 Capital Expenditure and Commitments . Except as disclosed in the Financial Statements (including the notes thereto):
(a) Except as set forth in Part 2.11(a)
of the Disclosure Schedule, the Company has not made or undertaken to make any material capital
commitment, expenditure or purchase in excess of $25,000.
(b) The Company is not a party to any hire, hire purchase, credit sale or conditional sale agreement or any contract providing for payment on
deferred terms in respect of assets purchased by the Company.
(c)
The Company is not aware of any Encumbrances on, over or affecting the issued or unissued capital stock of the Company, nor is the
Company aware of any agreement or commitment to give or create any such Encumbrance and no claim has been made by any Person to be entitled to any such
Encumbrance.
(d)
The Company has not given any guarantee, indemnity or security for, or otherwise agreed to become directly or contingently liable for,
any obligation of any other individual or entity, except in its ordinary course of business, and to the best of its Knowledge, no individual or entity has given any
guaranty of or security for any of the Company’s obligations.
(e)
There are in force no powers of attorney given by the Company with respect to any asset or business of the Company, and no individual or
entity, as agent, representative, distributor or otherwise, is entitled or authorized to bind or commit the Company to any obligation not in the ordinary course of the
Company’s business.
(f) Other than as set forth in Part 2.11(f)
of the Disclosure Schedule, the Company has not made any application to nor received any grant,
allowance or other support or benefits (including, without limitation, tax benefits) from any Governmental Body, nor was at any time during the conception of any of
the Intellectual Property, any developer, inventor or other contributor to the Intellectual Property, operating under any grants from any Governmental Body or
performing research sponsored by any Governmental Body or private source.
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