EXHIBIT 10.1
Intellectual Property Assignment Agreement
This agreement dated this 4th Day of June, 1998,
Among:
Between:
First Recovery Systems Inc.
Having its office at #203-20189
56lh Avenue, Xxxxxxx, XX X0X 0X0
Of the firm part
And
Xxxx X. Xxxxxx
#000-00000 00xx Xxxxxx
Xxxxxxx, XX X0X 0X0
Of the second part
Whereas:
A. Xxxx X Xxxxxx is the inventor and patent holder of an apparatus for the
extraction of gold from placer deposits. Patent number in Canada 1,110,206
and patent number in United States of America 4,265.743.
B. Rotary receptacle stratifier with liquid flow for placer mineral processing
patent number in Canada 1,153,336 and Placer mineral concentrator and
process patent number in United Stated of America. Patent No. 4,347,130.
Now therefor this agreement witness that in consideration of the mutual
premises, warranties covenants, and agreements hereinafter set forth, the
parties represent warrant covenant and agree each with the other as fellow:
1. Assignment and transfer of patents Xxxx X Xxxxxx hereby assigns and
transfers to Firstline Recovery Systems Inc. all of Younge's rights in
and to the technology patents, and all other rights therein of any
nature whatsoever. Younge shall upon request by Firsdiae execute and
deliver all documents necessary to perfect the assignment herein
and/or to register the intellectual property rights in the technology.
2. Consideration for assignment and transfer, Firstline agrees to pay
$10.00 to Xxxx X. Xxxxxx. As additional consideration for Younge's
transfer to Firstline Younge will further receive 100,000 class "A"
common shares in Firstline Recovery Systems Inc. The 100,000 shares to
be held in trust by Xxxx X. Xxxx.
XX
XXX
3. Entire agreement: This agreement consititutes the entire agreement
among the parties with respect to the subject matter hereof and
supercedes and prior understandings and agreements among them.
4. Successors and assigns: This agreement or any part hereof shall not be
assigned by Younge this agreement or any part hereof including without
limitation any rights to or ownership of the technology, patents, or
the intellectual property relating thereto, may be assigned by
Firstline in their sole discretion. This agreement will enure to the
benefit of and be binding upon each of the parties and their
respective heir's, executors, administrators, successors and permitted
assigns.
In witness whereof the parties have executed and delivered this agreement as of
the date First written above.
Signed and delivered by
Xxxx X. Xxxxxx in the presence of
/s/ /s/ XXXX X. XXXXXX
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Witness name - signature
0000 Xxxxxx Xxxxxxxx
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Xxxxxxx
Xxxxxx XX X0X 0X0
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City, Province
Supervisior
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Occupation
Signed sealed and delivered by
Firstline Recovery Systems Inc.
By the authorized signatory
/s/ XXXX XXXXXXX
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Per Authorized signatory, Xxxx Xxxxxxx
Firstline Recovery System Inc.
