LETTER AGREEMENTAsset Purchase Agreement • March 23rd, 2005 • Proginet Corp • Services-prepackaged software • New York
This letter agreement (“Agreement”) is between Proginet Corporation (“Proginet”) and V-ONE Corporation (“V-One”) and sets forth the terms and conditions pursuant to which Proginet will (i) acquire certain assets and assume certain liabilities of V-One in the Chapter 11 bankruptcy case of V-One (the “Sale Transaction”) and (ii) make certain financing available to V-One in the Chapter 11 bankruptcy case for the purpose of preserving V-One’s business pending the closing of the sale to Proginet (the “DIP Financing”). All references to dollars and financial terms included herein are in U.S. DOLLARS.
