SECURITY AGREEMENTSecurity Agreement • March 3rd, 2006 • Zann Corp • Pharmaceutical preparations • Florida
This Security Agreement (as amended, modified or otherwise supplemented from time to time, this "Security Agreement"), dated as of February [3], 2006, is executed by David Weiker, Sr., an individual (together with its successors and assigns, "Investor"), in favor of Robert Simpson ("Secured Party").
SERIES C PREFERRED STOCK PURCHASE AGREEMENTSeries C Preferred Stock Purchase Agreement • March 3rd, 2006 • Zann Corp • Pharmaceutical preparations • Nevada
David Weiker, Sr. (the "Purchaser") hereby purchases from Robert Simpson (the "Seller"), and the Seller hereby sells to the Purchaser 10,000,000 shares (the "Shares") of Series C Preferred Stock, par value $0.001 ("Preferred Stock") of Zann Corp., a Nevada corporation (the "Company"), for an aggregate purchase price of $500,000.00 (the "Purchase Price"), which amount shall be payable by means of Purchaser's payment to Seller of a $50,000 in cash, which amount Purchaser has previously paid to Seller as a non-refundable deposit, and Purchaser's delivery to Seller of that certain secured interest bearing promissory note in the original principal amount of $450,000 (the "Note"), a copy of which is annexed hereto as Exhibit A. The Purchaser acknowledges receipt of a stock certificate representing the Shares (a copy of which is annexed hereto as Exhibit B) and the Seller acknowledges receipt from the Purchaser of the Purchase Price.
SETTLEMENT AGREEMENT AND RELEASESettlement Agreement • March 3rd, 2006 • Zann Corp • Pharmaceutical preparations
This Settlement Agreement and Release (the "Release Agreement") is entered by and between ROBERT C. SIMPSON (RS) and ZANN CORP (ZC)., a Nevada corporation (collectively, the "Purchaser") and CHARLES DUKE and JONATHON DEREK SELTZER (collectively, the "Sellers" or D/S), the significant stockholders of SARTAM INDUSTRIES, INC., a Florida corporation ("Sartam"). The purpose of this Release Agreement is to terminate that certain Stock Purchase Agreement dated June 27, 2005, along with all related documents referenced therein and otherwise attached thereto as attachments, and that certain Amended Promissory Note dated August 4, 2005 and that certain consulting Agreement between Purchaser and Seller (all hereafter collectively referred to as the "Agreements").
