EXCHANGE AGREEMENT Dated as of July 9, 2019
Exhibit 10.5
Dated as of July 9, 2019
This Exchange Agreement (together with the exhibits and other attachments hereto, this “Agreement”) is entered into as of the date first set forth above (the “Closing Date”) by and between (i) West Of Xxxxxx Group, Inc., a Delaware corporation (the “Company”); (ii) Xxxx Xxx-Xxxxxxx (“Xx. Xxxxxxx”), (iii) Xxxxx Xxxxx (“Xx. Xxxxx”) and (iv) Xxxxx Xx (“Xx. Xx”). Xx. Xxxxxxx, Xx. Xxxxx and Xx. Xx may be referred to herein individually as a “Seller” and collectively as the “Sellers”. Each of the Company and each Seller may be referred to herein collectively as the “Parties” and separately as a “Party.”
WHEREAS, Sellers are all of the members of WHP Entertainment, LLC, a California limited liability company currently in the process of changing its name to Doiyen LLC (“Doiyen”), collectively owning 100% of the membership interests of Doiyen (the “Doiyen Interests”); and
WHEREAS the Company agrees to acquire the Doiyen Interests from the Sellers in exchange for the issuance by the Company to the Sellers of a total of 100 shares of common stock, par value $0.0001 per share, of the Company (the “Exchange Shares”);
NOW THEREFORE, on the stated premises and for and in consideration of the mutual covenants and agreements hereinafter set forth and the mutual benefits to the Parties to be derived herefrom, and intending to be legally bound hereby, it is hereby agreed as follows:
Article I. DEFINITIONS
Section 1.01 Definitions. In addition to the other terms defined herein, the following terms, as used herein, have the following meanings:
(a) | “Authority” means any governmental, regulatory or administrative body, agency or authority, any court or judicial authority, any arbitrator, or any public, private or industry regulatory authority, whether international, national, Federal, state, or local. | |
(b) | “Code” means the Internal Revenue Code of 1986, as amended. | |
(c) | “Law” means any domestic or foreign, federal, state, municipality or local law, statute, ordinance, code, rule, or regulation. | |
(d) | “Lien” means any mortgage, lien, pledge, charge, security interest or encumbrance of any kind in respect of such asset, and any conditional sale or voting agreement or proxy, including any agreement to give any of the foregoing. | |
(e) | “Person” means an individual, corporation, partnership (including a general partnership, limited partnership or limited liability partnership), limited liability company, association, trust or other entity or organization, including a government, domestic or foreign, or political subdivision thereof, or an agency or instrumentality thereof. | |
(f) | “Securities Act” means the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder. |
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(g) | “Tax(es)” means any federal, state, local or foreign tax, charge, fee, levy, custom, duty, deficiency, or other assessment of any kind or nature imposed by the Internal Revenue Service and any other Authority responsible for the collection, assessment or imposition of any Tax or the administration of any Law relating to any Tax (including any income (net or gross), gross receipts, profits, windfall profit, sales, use, goods and services, ad valorem, franchise, license, withholding, employment, social security, workers compensation, unemployment compensation, employment, payroll, transfer, excise, import, real property, personal property, intangible property, occupancy, recording, minimum, alternative minimum, environmental or estimated tax), including any liability therefor as a transferee (including under Section 6901 of the Code or similar provision of applicable Law) or successor, as a result of Treasury Regulation Section 1.1502-6 or similar provision of applicable Law or as a result of any Tax sharing, indemnification or similar agreement, together with any interest, penalty, additions to tax or additional amount imposed with respect thereto. |
Section 1.02 Interpretive Provisions. Unless the express context otherwise requires: (i) the words “hereof,” “herein,” and “hereunder” and words of similar import, when used in this Agreement, shall refer to this Agreement as a whole and not to any particular provision of this Agreement; (ii) terms defined in the singular shall have a comparable meaning when used in the plural, and vice versa; (iii) the terms “Dollars” and “$” mean United States Dollars; (iv) references herein to a specific Section, Subsection, Recital, or Exhibit shall refer, respectively, to Sections, Subsections, Recitals or Exhibits of this Agreement; (v) wherever the word “include,” “includes,” or “including” is used in this Agreement, it shall be deemed to be followed by the words “without limitation”; (vi) references herein to any gender shall include each other gender; (vii) references herein to any Person shall include such Person’s heirs, executors, personal representatives, administrators, successors and assigns; provided, however, that nothing contained herein is intended to authorize any assignment or transfer not otherwise permitted by this Agreement; (viii) references herein to a Person in a particular capacity or capacities shall exclude such Person in any other capacity; (ix) references herein to any contract or agreement (including this Agreement) mean such contract or agreement as amended, supplemented or modified from time to time in accordance with the terms thereof; (x) with respect to the determination of any period of time, the word “from” means “from and including” and the words “to” and “until” each means “to but excluding”; (xii) references herein to any Law or any license mean such Law or license as amended, modified, codified, reenacted, supplemented or superseded in whole or in part, and in effect from time to time; and (xiii) references herein to any Law shall be deemed also to refer to all rules and regulations promulgated thereunder.
Article II. EXCHANGE
Section 2.01 The Exchange.
(a) | On the terms and subject to the conditions set forth in this Agreement, each Seller shall sell, assign, transfer and deliver to the Company, free and clear of all liens, pledges, encumbrances, charges, restrictions or known claims of any kind, nature, or description, all of the Doiyen Interests held by such Seller in exchange for the issuance to Seller of the Exchange Shares. The Parties acknowledge and agree that the Doiyen Interest held by each Seller, and the number of Exchange Shares to be received by each Seller, are as follows: |
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(i) | Xx. Xxxxxxx holds 75% of the Doiyen Interests and in exchange therefore shall receive 75 Exchange Shares. | |
(ii) | Xx. Xxxxx holds 20% of the Doiyen Interests and in exchange therefore shall receive 20 Exchange Shares. | |
(iii) | Xx. Xx holds 5% of the Doiyen Interests and in exchange therefore shall receive 5 Exchange Shares. |
(b) | The exchange as set forth in this Section 2.01, subject to the other terms and conditions herein, is referred to herein as the “Exchange.” | |
(c) | At the Closing, each Seller shall, on delivery to the Company of the applicable Assignment of Membership Interests in the form as attached hereto as Exhibit A, Exhibit B and Exhibit C, with respect to the Doiyen Interests held by such Seller (the “Assignments”), be recorded in the stock ledger of the Company as the owners of the applicable portion of the Exchange Shares. |
Section 2.02 Closing. The closing of the transactions contemplated by this Agreement (the “Closing”) shall occur on the Closing Date simultaneously with the execution and delivery of this Agreement by remote exchange of electronic documents.
Section 2.03 Seller’s Deliverables. At the Closing, each Seller shall deliver to the Company the Assignment as applicable to such Seller, and thus all right, title and interest in and to the Doiyen Interests, free and clear of all liens, pledges, encumbrances, charges, restrictions or known claims of any kind, nature, or description.
Section 2.04 Company Share Issuance. At the Closing, the Company shall record the Sellers as the owners of the applicable portion of the Exchange Shares in the books and records of the Company. The Exchange Shares shall not be certificated.
Section 2.05 Additional Documents. At and following the Closing, the Parties shall execute, acknowledge, and deliver (or shall ensure to be executed, acknowledged, and delivered), any and all certificates, opinions, financial statements, schedules, agreements, resolutions, rulings or other instruments required by this Agreement to be so delivered at or prior to the Closing, together with such other items as may be reasonably requested by the Parties and their respective legal counsel in order to effectuate or evidence the transactions contemplated hereby.
Section 2.06 Taxes. Each Seller will pay all income, gain, sales, use, value added, transfer, stamp, registration, documentary, excise, real property transfer or gains, or similar Taxes incurred as a result of the transactions contemplated by this Agreement with respect to such Seller.
Article III. REPRESENTATIONS AND WARRANTIES OF EACH SELLER
As an inducement to, and to obtain the reliance of the Company, each Seller, severally and not jointly and severally, represents and warrants to the Company, as of the Closing Date, as follows:
Section 3.01 Existence and Power. Such Seller is a natural person and has the full power and is duly authorized under all applicable Laws, regulations, ordinances, and orders of public authorities to carry on its business in all material respects as it is now being conducted and to enter into this Agreement and fulfill its obligations herein.
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Section 3.02 Due Authorization. Such Seller has taken all actions required by Law or otherwise to authorize the execution, delivery and performance of this Agreement and to consummate the transactions herein contemplated
Section 3.03 Valid Obligation. This Agreement and all agreements and other documents executed by such Seller in connection herewith constitute the valid and binding obligations of such Seller, enforceable in accordance with its or their terms, except as may be limited by the Enforceability Exceptions
Section 3.04 Governmental Authorization. Neither the execution, delivery nor performance of this Agreement by such Seller requires any consent, approval, license or other action by or in respect of, or registration, declaration or filing with any Authority.
Section 3.05 Title to and Issuance of Doiyen Interests. Such Seller is the record and beneficial owner and holder of the Doiyen Interests as set forth in Section 2.01(a), free and clear of all Liens. None of the Doiyen Interests held by such Seller is subject to pre-emptive or similar rights and such Seller does not have any pre-emptive rights or similar rights to purchase or receive any Doiyen Interests or other interests in the Company. Such Seller has the power and authority to transfer the Doiyen Interests to the Company as contemplated pursuant to the terms of this Agreement. Upon delivery of the Exchange Shares to such Seller in exchange for the Doiyen Interests held by such Seller as contemplated hereby, the Company shall acquire good and valid title to such Doiyen Interests, free and clear of all Liens.
Section 3.06 Broker’s, Finder’s or Similar Fees. There are no brokerage commissions, finder’s fees or similar fees or commissions payable by such Seller in connection with the transactions contemplated hereby based on any agreement, arrangement or understanding with such Seller or any action taken by such Seller.
Section 3.07 Investment Representations.
(a) | Investment Purpose. Such Seller understands and agrees that the consummation of this Agreement including the delivery of the Exchange Shares to such Seller in exchange for the Doiyen Interests held by such Seller as contemplated hereby constitutes the offer and sale of securities under the Securities Act and applicable state statutes and that the Exchange Shares are being acquired for such Seller’s own account and not with a present view towards the public sale or distribution thereof, except pursuant to sales registered or exempted from registration under the Securities Act. | |
(b) | Investor Status. Such Seller is (i) an “accredited investor” as that term is defined in Rule 501(a) of Regulation D (an “Accredited Investor”), and/or (ii) an exempt investor in accordance with the provisions of Regulation S promulgated under the Securities Act. Such Seller has been furnished with all documents and materials relating to the business, finances and operations of the Company and its subsidiaries and information that such Seller requested and deemed material to making an informed decision regarding this Agreement and the underlying transactions. |
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(c) | Information. Such Seller and its advisors, if any, have been furnished with all materials relating to the business, finances and operations of the Company and materials relating to the offer and sale of the Exchange Shares which have been requested by such Seller or its advisors. Such Seller and its advisors, if any, have been afforded the opportunity to ask questions of the Company. Such Seller understands that their investment in the Exchange Shares involves a significant degree of risk. | |
(d) | Governmental Review. Such Seller understands that no United States federal or state agency or any other government or governmental agency has passed upon or made any recommendation or endorsement of the Exchange Shares. |
Article IV. REPRESENTATIONS AND WARRANTIES OF THE COMPANY
As an inducement to, and to obtain the reliance of the Sellers, the Company represents and warrants to each of the Sellers as of the Closing Date as follows:
Section 4.01 Organization. The Company is a corporation duly organized, validly existing, and in good standing under the Laws of the State of Delaware and has the corporate power and is duly authorized under all applicable Laws, regulations, ordinances, and orders of public authorities to carry on its business in all material respects as it is now being conducted.
Section 4.02 No Conflict; Due Authorization. The execution and delivery of this Agreement does not, and the consummation of the transactions contemplated hereby will not, violate any provision of the Certificate of Incorporation and Bylaws of the Company as in effect on the Closing Date (the “Company Organizational Documents”). The Company has taken all action required by Law, the Company Organizational Documents, or otherwise to authorize the execution and delivery of this Agreement, and the Company has full power, authority, and legal right and has taken all action required by Law, the Company Organizational Documents or otherwise to consummate the transactions herein contemplated.
Section 4.03 Valid Obligation. This Agreement and all agreements and other documents executed by the Company in connection herewith constitute the valid and binding obligation of the Company, enforceable in accordance with its or their terms, except as may be limited by the Enforceability Exceptions.
Section 4.04 Governmental Authorization. Neither the execution and delivery nor performance of this Agreement by any the Company Party requires any consent, approval, license or other action by or in respect of, or registration, declaration or filing with any Authority.
Section 4.05 Approval of Agreement. The Board of Directors of the Company has authorized the execution and delivery of this Agreement by the Company and has approved this Agreement and the transactions contemplated hereby.
Section 4.06 Broker’s, Finder’s or Similar Fees. There are no brokerage commissions, finder’s fees or similar fees or commissions payable by the Company in connection with the transactions contemplated hereby based on any agreement, arrangement or understanding with the Company or any action taken by the Company.
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Article V. MISCELLANEOUS
Section 5.01 Governing Law; Jurisdiction; Waiver of Jury Trial.
(a) | This Agreement shall be governed by, enforced, and construed under and in accordance with the Laws of the State of Delaware, without giving effect to the principles of conflicts of law thereunder. | |
(b) | ANY LEGAL SUIT, ACTION OR PROCEEDING ARISING OUT OF OR BASED UPON THIS AGREEMENT, THE OTHER TRANSACTION DOCUMENTS OR THE CONTEMPLATED TRANSACTIONS MAY BE INSTITUTED IN THE FEDERAL COURTS OF THE UNITED STATES OF AMERICA OR THE COURTS OF THE STATE OF CALIFORNIA, IN EACH CASE LOCATED IN LOS ANGELES COUNTY, CALIFORNIA AND EACH PARTY IRREVOCABLY SUBMITS TO THE EXCLUSIVE JURISDICTION OF SUCH COURTS IN ANY SUCH SUIT, ACTION OR PROCEEDING. SERVICE OF PROCESS, SUMMONS, NOTICE OR OTHER DOCUMENT BY MAIL TO SUCH PARTY’S ADDRESS SET FORTH HEREIN SHALL BE EFFECTIVE SERVICE OF PROCESS FOR ANY SUIT, ACTION OR OTHER PROCEEDING BROUGHT IN ANY SUCH COURT. THE PARTIES IRREVOCABLY AND UNCONDITIONALLY WAIVE ANY OBJECTION TO THE LAYING OF VENUE OF ANY SUIT, ACTION OR ANY PROCEEDING IN SUCH COURTS AND IRREVOCABLY WAIVE AND AGREE NOT TO PLEAD OR CLAIM IN ANY SUCH COURT THAT ANY SUCH SUIT, ACTION OR PROCEEDING BROUGHT IN ANY SUCH COURT HAS BEEN BROUGHT IN AN INCONVENIENT FORUM. | |
(c) | EACH PARTY ACKNOWLEDGES AND AGREES THAT ANY CONTROVERSY WHICH MAY ARISE UNDER THIS AGREEMENT OR THE OTHER TRANSACTION DOCUMENTS IS LIKELY TO INVOLVE COMPLICATED AND DIFFICULT ISSUES AND, THEREFORE, EACH SUCH PARTY IRREVOCABLY AND UNCONDITIONALLY WAIVES ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LEGAL ACTION ARISING OUT OF OR RELATING TO THIS AGREEMENT, THE OTHER TRANSACTION DOCUMENTS OR THE CONTEMPLATED TRANSACTIONS. EACH PARTY TO THIS AGREEMENT CERTIFIES AND ACKNOWLEDGES THAT (A) NO REPRESENTATIVE OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT SEEK TO ENFORCE THE FOREGOING WAIVER IN THE EVENT OF A LEGAL ACTION, (B) SUCH PARTY HAS CONSIDERED THE IMPLICATIONS OF THIS WAIVER, (C) SUCH PARTY MAKES THIS WAIVER VOLUNTARILY, AND (D) SUCH PARTY HAS BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS Section 5.01(c). |
Section 5.02 Notices. Any notice or other communications required or permitted hereunder shall be in writing and shall be sufficiently given if personally delivered to it or sent by email with return receipt requested, overnight courier or registered mail or certified mail, postage prepaid, addressed to the Company at its principal office or to the addresses of the Sellers as set forth in the books and records of the Company. Any Party may change its address for notices hereunder upon notice to each other Party in the manner for giving notices hereunder. Any notice hereunder shall be deemed to have been given (i) upon receipt, if personally delivered, (ii) on the day after dispatch, if sent by overnight courier, (iii) upon dispatch, if transmitted by email with return receipt requested and received and (iv) three (3) days after mailing, if sent by registered or certified mail.
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Section 5.03 Attorneys’ Fees. In the event that any Party institutes any action or suit to enforce this Agreement or to secure relief from any default hereunder or breach hereof, the prevailing Party shall be reimbursed by the losing Party for all costs, including reasonable attorney’s fees, incurred in connection therewith and in enforcing or collecting any judgment rendered therein.
Section 5.04 Confidentiality. Each Party agrees that, unless and until the transactions contemplated by this Agreement have been consummated, it and its representatives will hold in strict confidence all data and information obtained with respect to another Party or any subsidiary thereof from any representative, officer, director or employee, or from any books or records or from personal inspection, of such other Party, and shall not use such data or information or disclose the same to others, except (i) to the extent such data or information is published, is a matter of public knowledge, or is required by Law to be published; or (ii) to the extent that such data or information must be used or disclosed in order to consummate the transactions contemplated by this Agreement. In the event of the termination of this Agreement, each Party shall return to the applicable other Party all documents and other materials obtained by it or on its behalf and shall destroy all copies, digests, work papers, abstracts or other materials relating thereto, and each Party will continue to comply with the confidentiality provisions set forth herein.
Section 5.05 Third Party Beneficiaries. This contract is strictly between the Company and the Sellers and, except as specifically provided, no other Person and no director, officer, stockholder (other than the Sellers), employee, agent, independent contractor or any other Person shall be deemed to be a third-party beneficiary of this Agreement.
Section 5.06 Entire Agreement. This Agreement represents the entire agreement between the Parties relating to the subject matter thereof and supersedes all prior agreements, understandings and negotiations, written or oral, with respect to such subject matter.
Section 5.07 Survival; Termination. The representations, warranties, and covenants of the respective Parties shall survive the Closing Date and the consummation of the transactions herein contemplated for a period of two years.
Section 5.08 Amendment; Waiver; Remedies.
(a) | This Agreement may be amended, modified, superseded, terminated or cancelled, and any of the terms, covenants, representations, warranties or conditions hereof may be waived, only by a written instrument executed by each of the Parties. | |
(b) | Every right and remedy provided herein shall be cumulative with every other right and remedy, whether conferred herein, at law, or in equity, and may be enforced concurrently herewith, and no waiver by any Party of the performance of any obligation by the other shall be construed as a waiver of the same or any other default then, theretofore, or thereafter occurring or existing. | |
(c) | Neither any failure or delay in exercising any right or remedy hereunder or in requiring satisfaction of any condition herein nor any course of dealing shall constitute a waiver of or prevent any Party from enforcing any right or remedy or from requiring satisfaction of any condition. No notice to or demand on a Party waives or otherwise affects any obligation of that Party or impairs any right of the Party giving such notice or making such demand, including any right to take any action without notice or demand not otherwise required by this Agreement. No exercise of any right or remedy with respect to a breach of this Agreement shall preclude exercise of any other right or remedy, as appropriate to make the aggrieved Party whole with respect to such breach, or subsequent exercise of any right or remedy with respect to any other breach. |
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(d) | Notwithstanding anything else contained herein, no Party shall seek, nor shall any Party be liable for, consequential, punitive or exemplary damages, under any tort, contract, equity, or other legal theory, with respect to any breach (or alleged breach) of this Agreement or any provision hereof or any matter otherwise relating hereto or arising in connection herewith. |
Section 5.09 Arm’s Length Bargaining; No Presumption Against Drafter. This Agreement has been negotiated at arm’s-length by parties of equal bargaining strength, each represented by counsel or having had but declined the opportunity to be represented by counsel and having participated in the drafting of this Agreement. This Agreement creates no fiduciary or other special relationship between the Parties, and no such relationship otherwise exists. No presumption in favor of or against any Party in the construction or interpretation of this Agreement or any provision hereof shall be made based upon which Person might have drafted this Agreement or such provision.
Section 5.10 Headings. The headings contained in this Agreement are intended solely for convenience and shall not affect the rights of the Parties.
Section 5.11 No Assignment or Delegation. No Party may assign any right or delegate any obligation hereunder, including by merger, consolidation, operation of law, or otherwise, without the written consent of the all of the other Parties and any purported assignment or delegation without such consent shall be void, in addition to constituting a material breach of this Agreement. This Agreement shall be binding on the permitted successors and assigns of the Parties.
Section 5.12 Further Assurances. Each Party shall execute and deliver such documents and take such action, as may reasonably be considered within the scope of such Party’s obligations hereunder, necessary to effectuate the transactions contemplated by this Agreement.
Section 5.13 Specific Performance. The Parties agree that irreparable damage would occur in the event that any of the provisions of this Agreement were not performed by them in accordance with the terms hereof or were otherwise breached and that each Party hereto shall be entitled to an injunction or injunctions, specific performance and other equitable relief to prevent breaches of the provisions hereof and to enforce specifically the terms and provisions hereof, without the proof of actual damages, in addition to any other remedy to which they are entitled at law or in equity. Each Party agrees to waive any requirement for the security or posting of any bond in connection with any such equitable remedy, and agrees that it will not oppose the granting of an injunction, specific performance or other equitable relief on the basis that (a) any other Party has an adequate remedy at law, or (b) an award of specific performance is not an appropriate remedy for any reason at law or equity.
Section 5.14 Counterparts. This Agreement may be executed in multiple counterparts, each of which shall be deemed an original and all of which taken together shall be but a single instrument. The execution and delivery of a facsimile or other electronic transmission of a signature to this Agreement shall constitute delivery of an executed original and shall be binding upon the person whose signature appears on the transmitted copy.
[Signatures Appear on Following Page]
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IN WITNESS WHEREOF, the Parties have executed this Agreement as of the Closing Date.
West Of Xxxxxx Group, Inc. | ||
By: | /s/ Xxxx Xxx-Xxxxxxx | |
Name: | Xxxx Xxx-Xxxxxxx | |
Title: | Chief Executive Officer | |
Sellers: | ||
Xxxx Xxx-Xxxxxxx | ||
By: | /s/ Xxxx Xxx-Xxxxxxx | |
Name: | Xxxx Xxx-Xxxxxxx | |
Xxxxx Xxxxx | ||
By: | /s/ Xxxxx Xxxxx | |
Name: | Xxxxx Xxxxx | |
Xxxxx Xx | ||
By: | /s/ Xxxxx Xx | |
Name: | Xxxxx Xx |
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Exhibit A
Assignment of Membership Interests
[Xxxx Xxx-Xxxxxxx]
This Assignment of Membership Interests (“Assignment”) dated this 9th day of July, 2020, is entered into by and between Xxxx Xxx-Xxxxxxx (“Assignor”) and West Of Xxxxxx Group, Inc., a Delaware corporation (“Assignee”).
Assignor currently holds 75% of the Membership Interest of WHP Entertainment, LLC, a California limited liability company currently in the process of changing its name to Doiyen LLC (the “Company”).
Assignor, for and in consideration of the sum of Ten and No/100 Dollars ($10.00) and other good and valuable consideration received from or on behalf of the Assignee at or before the ensealing and delivery of these presents, the receipt and sufficiency whereof is hereby acknowledged, now hereby assigns, transfers and sets over unto the Assignee all right, title and interest in all of the Membership Interest in the Company held by Assignor (the “Transferred Interests”), which Membership Interest has been delivered to Assignee on the date hereof, to have and to hold the same unto the Assignee, the Assignee’s legal representatives, successors and assigns forever.
Assignor, in connection with Assignor’s assignment of the Transferred Interests, does hereby warrant, covenant and agree with the Assignee that Assignor has good right and authority to execute this Assignment and Assignor is the sole beneficial owner of the Membership Interest as of the date hereof.
IN WITNESS WHEREOF, the Assignor and Assignee have each caused this Assignment to be executed on the date written below.
Signed, sealed and delivered in the presence of:
Witnesses: | Assignor: Xxxx Xxx-Xxxxxxx | |||
Print Name: | By: | /s/ Xxxx Xxx-Xxxxxxx | ||
Name: | Xxxx Xxx-Xxxxxxx | |||
Print Name: | Assignee: West Of Xxxxxx Group | |||
By: | /s/ Xxxx Xxx-Xxxxxxx | |||
Name: | Xxxx Xxx-Xxxxxxx | |||
Title: | Chief Executive Officer |
Exhibit B
Assignment of Membership Interests
[Xxxxx Xxxxx]
This Assignment of Membership Interests (“Assignment”) dated this 9th day of July, 2020, is entered into by and between Xxxxx Xxxxx (“Assignor”) and West Of Xxxxxx Group, Inc., a Delaware corporation (“Assignee”).
Assignor currently holds 20% of the Membership Interest of WHP Entertainment, LLC, a California limited liability company currently in the process of changing its name to Doiyen LLC (the “Company”).
Assignor, for and in consideration of the sum of Ten and No/100 Dollars ($10.00) and other good and valuable consideration received from or on behalf of the Assignee at or before the ensealing and delivery of these presents, the receipt and sufficiency whereof is hereby acknowledged, now hereby assigns, transfers and sets over unto the Assignee all right, title and interest in all of the Membership Interest in the Company held by Assignor (the “Transferred Interests”), which Membership Interest has been delivered to Assignee on the date hereof, to have and to hold the same unto the Assignee, the Assignee’s legal representatives, successors and assigns forever.
Assignor, in connection with Assignor’s assignment of the Transferred Interests, does hereby warrant, covenant and agree with the Assignee that Assignor has good right and authority to execute this Assignment and Assignor is the sole beneficial owner of the Membership Interest as of the date hereof.
IN WITNESS WHEREOF, the Assignor and Assignee have each caused this Assignment to be executed on the date written below.
Signed, sealed and delivered in the presence of:
Witnesses: | Assignor: Xxxxx Xxxxx | |||
Print Name: | By: | /s/ Xxxxx Xxxxx | ||
Name: | Xxxxx Xxxxx | |||
Print Name: | Assignee: West Of Xxxxxx Group | |||
By: | /s/ Xxxx Xxx-Xxxxxxx | |||
Name: | Xxxx Xxx-Xxxxxxx | |||
Title: | Chief Executive Officer |
Exhibit C
Assignment of Membership Interests
[Xxxxx Xx]
This Assignment of Membership Interests (“Assignment”) dated this 9th day of July, 2020, is entered into by and between Xxxxx Xx (“Assignor”) and West Of Xxxxxx Group, Inc., a Delaware corporation (“Assignee”).
Assignor currently holds 5% of the Membership Interest of WHP Entertainment, LLC, a California limited liability company currently in the process of changing its name to Doiyen LLC (the “Company”).
Assignor, for and in consideration of the sum of Ten and No/100 Dollars ($10.00) and other good and valuable consideration received from or on behalf of the Assignee at or before the ensealing and delivery of these presents, the receipt and sufficiency whereof is hereby acknowledged, now hereby assigns, transfers and sets over unto the Assignee all right, title and interest in all of the Membership Interest in the Company held by Assignor (the “Transferred Interests”), which Membership Interest has been delivered to Assignee on the date hereof, to have and to hold the same unto the Assignee, the Assignee’s legal representatives, successors and assigns forever.
Assignor, in connection with Assignor’s assignment of the Transferred Interests, does hereby warrant, covenant and agree with the Assignee that Assignor has good right and authority to execute this Assignment and Assignor is the sole beneficial owner of the Membership Interest as of the date hereof.
IN WITNESS WHEREOF, the Assignor and Assignee have each caused this Assignment to be executed on the date written below.
Signed, sealed and delivered in the presence of:
Witnesses: | Assignor: Xxxxx Xx | |||
Print Name: | By: | /s/ Xxxxx Xx | ||
Name: | Xxxxx Xx | |||
Print Name: | Assignee: West Of Xxxxxx Group | |||
By: | /s/ Xxxx Xxx-Xxxxxxx | |||
Name: | Xxxx Xxx-Xxxxxxx | |||
Title: | Chief Executive Officer |