SATISFACTION OF OBLIGATION
EXHIBIT 14
This Agreement (“Agreement”), dated effective as of December 3, 2013 (the “Effective Date”), is entered into by and among CVSL Inc., a Florida corporation (the “Company”), Xxxxxx Capital Partners, Ltd., a Texas limited partnership (“RCP”) and International Equities Group, Inc., a Florida corporation (“IEG”).
WHEREAS, Seller is the record, legal and beneficial owner of $0.0001 par value shares of common stock of the Company (the “Stock”);
WHEREAS, the Company has agreed to issue IEG 10,000,000 shares of the Company’s common stock for various consulting and other services (the “Obligation”); and
WHEREAS, RCP desires to deliver its shares of the Company’s common stock to satisfy the Obligation on behalf of the Company.
NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:
1. IEG hereby agrees to accept the 10,000,000 shares of common stock of the Company owned by RCP in full satisfaction of the Company’s Obligation, and effective upon its receipt of such shares does hereby irrevocably release and discharge the Company from same.
2. This Agreement may be executed in multiple originals, each of which will be deemed an original but all of which together will constitute but one and the same instrument. This Agreement binds, and inures to the benefit of, the parties and their respective permitted successors and assigns. This Agreement constitute the entire agreement of the parties concerning the subject matter hereof and supersedes all prior agreements, if any.
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CVSL INC. |
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XXXXXX CAPITAL PARTNERS, LTD., a | ||
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Texas limited partnership | |
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By: |
/s/ Xxxxx X. Xxxxxxxx |
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By: |
Xxxx Xxxxxx Management, Inc., its general |
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Its: |
CFO |
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partner |
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By: |
/s/ Xxxx X. Xxxxxx | |
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Its: |
President | |
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INTERNATIONAL EQUITIES GROUP, INC | ||
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By: |
/s/ Xxxxxx Xxxxxx | |
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Its: |
President | |
