IN THE JUDICIAL DISTRICT OF EDMONTON
DATED August 15th, 2003
AGREEMENT
BETWEEN:
Segway VI Corp.
("Segway")
(of New Jersey)
and
Selectrics Corporation
("Selectrics")
(of Delaware)
1. Segway hereby agrees to purchase all the outstanding shares of Selectrics by
issuing Common Shares of Segway in exchange of Selectrics shares on a
one-for-one share issuance basis;
2. Selectrics hereby warrants that they have been validly issued the Common
Shares of the Selectrics Corporation (of Delaware);
3. Selectrics hereby warrants that they have entered into agreements with the
owner of assets as outlined in the Technology Agreement and Patent Assignment
Agreement between Xx. Xxx Xxxxxxxxxxxx and Selectrics;
4. Management of Selectrics hereby warrants to Segway that they are authorized
to sign on behalf of Selectrics;
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5. Segway hereby absolutely and unconditionally remise, release and forever
discharge Selectrics and their successors and assigns, their Directors,
employees and agents, of and from any and all actions, causes of action, claims,
demands, costs or expenses, known or unknown, against Selectrics which
Selectrics ever had, now has or can, shall or may hereafter have, by reason of
or related to any matter or thing existing up to this date, and in particular,
without restricting the generality of the foregoing, of and from all actions,
causes of action, claims, demands, costs or expenses, known or unknown by reason
of or in any way related to this Agreement.
6. Selectrics hereby absolutely and unconditionally remise, release and forever
discharge Segway and their successors and assigns, their Directors, employees
and agents, of and from any and all actions, causes of action, claims, demands,
costs or expenses, known or unknown, against Segway which Segway ever had, now
has or can, shall or may hereafter have, by reason of or related to any matter
or thing existing up to this date, and in particular, without restricting the
generality of the foregoing, of and from all actions, causes of action, claims,
demands, costs or expenses, known or unknown by reason of or in any way related
to this Agreement.
SIGNED by the Directors of the respective Parties;
SIGNED by the Purchaser SIGNED by the Purchaser
/s/ Xxx Xxxxxxxxxxxx /s/ Xxx Xxxxxxxxxxxx
---------------------- -----------------------------
Director / Segway VI Director / Selectrics Corporation
Dated on August 15, 2003
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