BINDING LETTER AGREEMENTAcquisition Agreement • June 3rd, 2011 • H & H Imports, Inc. • Services-motion picture & video tape production • Florida
This Binding Letter Agreement (this “Agreement”) confirms the terms under which TV Goods, Inc., a Florida corporation (“TVG”), will acquire certain assets owned by Seen On TV, LLC, a Nevada limited liability company (“SOTV”) and/or Mary Beth Fasano, President of SOTV (“Fasano” and together with SOTV, “Seller”) including certain domain names, associated intellectual property, trademarks, trade names, and the phone number, 866 As Seen on TV, and related ancillary assets (collectively, the “Property”). This Agreement is intended to set forth the major terms of the acquisition of the Property. It is the intent of the parties hereto (the “Parties”) that this Agreement will be replaced by mutually agreed upon more comprehensive documents (the “Final Agreements”) that will incorporate the business terms agreed upon in this Agreement which are binding on the Parties, within the next thirty (30) days, or such extended time as agreed to by the Parties. Notwithstanding the foregoing, the Parties
