BILL OF SALE
XXXX OF SALE
This
Xxxx
of Sale (this “Xxxx
of
Sale”),
dated
as of October 2, 2007 (the “Effective
Date”)
by and
between GAMI, LLC, a Florida limited liability company (“Acquiror”), and
Inverted Paradigm Corp., a Delaware corporation (“Transferor”).
Recitals;
A.
TRANSFEROR desires to sell the rights to Silent-Sword Software and issue 750,000
shares of 100-for-l post-split stock of IVPC and ACQUIROR agrees to purchase
said software and stock for the purchase price of $ 150,000 (the “Agreement”).
The
terms and conditions set forth herein, for the transfer by Transferor and
purchase by Acquiror of the Software, known as “Silent-Sword”, all patents,
pending patent, intellectual properties, rights to, software code, etc., to
be
all inclusive of material and intangible aspects Silent-Sword in which the
Acquiror can operate the software, of Transferor as set forth in the Agreement
and 750,000 shares of IVPC Common Stock Post-Split of 100- for-l. Capitalized
terms used herein without definition shall have the meanings ascribed to them
in
the Agreement.
B.
The
assets being sold by Transferor and purchased by Acquiror include, but are
not
limited to, all of Transferor’s tangible and intangible property used in the
Business of Silent-Sword (the “Purchased Assets”) as set forth in the Agreement
and 750,000 shares of IVPC Common Stock post-split.
C.
Acquiror desires to obtain all right, title and interest in and to any and
all
of the Purchased Assets.
D.
This
Xxxx of Sale is being executed and delivered in order to affect the transfer
of
the Purchased Assets to Acquiror, as provided in the Agreement.
NOW
THEREFORE, for valuable consideration, the receipt and sufficiency of which
are
hereby acknowledged, Transferor agree as follows:
1.
Assignment.
Transferor hereby sells, grants, conveys, bargains, transfers, assigns and
delivers to Acquiror, and to Acquiror’s successors and assigns, all of
Transferor’s rights, titles and interests, legal and equitable, throughout the
world, in and to the Purchased Assets, to have and to hold the same forever.
This is a transfer and conveyance by Transferor to Acquiror of good and
marketable title to the Purchased Assets, free and clear of all encumbrances.
Subject to the conditions and limitations contained in the Agreement, Transferor
hereby covenants and agrees to warrant and defend title to the Purchased Assets
against any and all claims whatsoever to the extent represented and warranted
to
in the Agreement.
2.
Further
Assurances.
Transferor agrees that it will, at Acquiror’s request at any time and from time
to time after the date hereof and without further consideration, do, execute,
acknowledge and deliver or will cause to be done, executed, acknowledged and
delivered all such further acts, deeds, assignments, transfers, conveyances,
powers of attorney
and other instruments and assurances as may be considered by Acquiror, its
successors and assigns, to be necessary or proper to better effect the sale,
conveyance, transfer, assignment, assurance, confirmation and delivery of
ownership of the Purchased Assets to Acquiror, or to aid and assist in
collecting and reducing to the possession of Acquiror, any and all Purchased
Assets.
4.
Amendment
or Termination; Successors and Assigns.
This
Xxxx of Sale may not be amended or terminated except by a written instrument
duly signed by each of the parties hereto. This Xxxx of Sale shall inure to
the
benefit of, and be binding upon, each of the parties hereto and their respective
successors and assigns.
5.
No
Third
Parties.
Nothing
in this Xxxx of Sale, expressed or implied, is intended or shall be construed
to
confer upon or give to any person, firm or corporation other than Acquiror
and
Transferor, their successors and assigns, any remedy or claim under or by reason
of this instrument or any term, covenant or condition hereof, and all of the
terms, covenants, conditions, promises and agreements contained in this
instrument shall be for the sole and exclusive benefit of the Acquiror and
Transferor, their successors and assigns.
6.
Construction.
This
Xxxx of Sale, being further documentation of a portion of the conveyances,
transfers and assignments provided for in and by the Agreement, neither
supersedes, amends, or modifies any of the terms or provisions of the Agreement
nor does it expand upon or limit the rights, obligations or warranties of the
parties under the Agreement. In the event of a conflict or ambiguity between
the
provisions of this Xxxx of Sale and the Agreement, the provisions of the
Agreement will be controlling.
7.
Governing
Law.
The
rights and obligations of the parties under this Xxxx of Sale will be construed
under and governed by the internal laws of the State of Florida (regardless
of
its or any other jurisdiction’s conflict-of-law provisions), with venue in
Brevard County, Florida.
8.
Counterparts.
This
Xxxx of Sale may be executed by facsimile in one or more counterparts and by
facsimile, each of which shall be deemed an original and all of which taken
together shall constitute one and the same instrument.
IN
WITNESS WHEREOF, the parties have executed this Xxxx of Sale as of the Effective
Date.
ACQUIROR:
|
TRANSFEROR
|
|||||||
GAMI,
LLC
|
INVERTED
PARADIGM CORP
|
|||||||
By:
|
/s/
Xxxxxxx X. Xxxxxxx
|
By:
|
/s/
Xxxxx Xxxxx
|
|||||
Name:
|
Xxxxxxx
X. Xxxxxxx
|
Name:
|
Xxxxx
Xxxxx
|
|||||
Title:
|
Managing
Member
|
Title:
|
Chief
Executive Officer
|