MobilePro Corp 6701 Democracy Blvd. Suite 300 Bethesda, MD 20817Mobilepro Corp • January 11th, 2006 • Telephone & telegraph apparatus
This Letter of Intent summarizes the primary terms upon which Mobilepro Corp., a Delaware corporation or an affiliate (“Buyer”) intends to acquire from Kite Broadband, LLC, a Mississippi limited liability company and its non-Buyer members (“KB”) all of the non-Buyer membership interests and from Kite Networks, Inc., a Mississippi corporation and its shareholders (“KN”) 100% of the issued and outstanding capital stock of Kite Networks, Inc. (the “Stock”). With respect to such transactions, the parties generally intend to negotiate a Stock Purchase Agreement for the acquisition of KN and a transfer agreement and waiver of rights agreement for the acquisition of KB and other ancillary agreements as will be reasonably requested by either party and reasonably agreed to by the other party including customary Officer’s Certificates ("Definitive Agreements"), such Definitive Agreements being generally contemplated to be in accordance with the following terms:
