BINDING AGREEMENTAsset Purchase Agreement • May 21st, 2008 • FTS Group, Inc. • Knit outerwear mills • Florida
The purpose of this letter (the "Letter") is to set forth certain binding understandings between FTS Group, Inc. and OTG Technologies, Inc. a newly formed wholly-owned subsidiary of FTS Group, Inc. (Company was formed to facilitate the transaction, hereafter referred to as "FTS") and On The Go HealthCare, Inc. DBA On The Go Technologies, Inc. (hereafter referred to as "OTG") regarding the sale of selected assets owned by OTG as described in more detail on exhibit A (here after referred to as the "ASSETS"), assumption of certain debt of OTG as described in more detail on Exhibit B, the assumption of certain contracts of OTG as described in more detail on Exhibit C, Confidentiality and Non-Competition Agreement as described in more detail on Exhibit D, and a Promissory Note (the "Note") issued to the Company attached as Exhibit E.
