INTELLECTUAL PROPERTY LICENSE AGREEMENTIntellectual Property License Agreement • March 31st, 2008 • Transax International LTD • Services-prepackaged software • Florida
This INTELLECTUAL PROPERTY LICENSE AGREEMENT (“Agreement”) is dated as of March 26, 2008 (the “Effective Date”) between MEDLINK TECHNOLOGIES, INC., a Mauritius corporation (“Licensor”), and TRANSAX INTERNATIONAL LIMITED, a Colorado corporation (“Licensee”). Licensor and Licensee are sometimes referred to herein individually as a “Party” and collectively as the “Parties.” Capitalized terms used herein but nor otherwise defined shall have the meanings ascribed to them in the Stock Purchase Agreement (as defined below).
ESCROW AGREEMENTEscrow Agreement • March 31st, 2008 • Transax International LTD • Services-prepackaged software • Florida
WHEREAS, concurrent with the execution of this Agreement, Buyer and Seller have entered into a Sstock Purchase and Option Agreement (the “Purchase Agreement”) pursuant to which Buyer shall acquire at least 45% and potentially all of the issued and outstanding capital stock of Transax Limited, a Colorado corporation (the “Company”) from Seller in accordance with the terms thereof (the “Acquisition”);
STOCK PURCHASE AND OPTION AGREEMENTStock Purchase and Option Agreement • March 31st, 2008 • Transax International LTD • Services-prepackaged software • Florida
THIS STOCK PURCHASE AND OPTION AGREEMENT is dated as of March 26, 2008, by and between TRANSAX INTERNATIONAL LIMITED, a Colorado corporation, (“Seller”), and ENGETECH, INC., a Turks & Caicos corporation (“Buyer”).
STOCK PLEDGE AGREEMENTStock Pledge Agreement • March 31st, 2008 • Transax International LTD • Services-prepackaged software • Florida
THIS STOCK PLEDGE AGREEMENT (the “Agreement”) is entered into as of the 26 day of March, 2008 (the “Effective Date”), by and among ENGETECH, INC., a Turks and Caicos corporation (the “Pledgor”) and TRANSAX INTERNATIONAL LIMITED, a Colorado corporation (the “Secured Party”).
PROMISSORY NOTETransax International LTD • March 31st, 2008 • Services-prepackaged software • Florida
FOR VALUE RECEIVED, ENGETECH, INC., a Turks and Caicos corporation (“Borrower”), unconditionally promises to pay to the order of TRANSAX INTERNATIONAL LIMITED, a Colorado corporation (“Lender”), the principal sum of $2,880,000 as provided below. Borrower further agrees as follows:
Transax International Sells 45% of Brazil Operations for U.S. $3.2 Million plus Performance Bonus, with Option for 55% Balance. Previous LOI Replaced with New AgreementTransax International LTD • March 31st, 2008 • Services-prepackaged software
MIAMI, FL, March XX, 2008-- Transax International Limited (Transax) (OTCBB: TNSX), a network solutions company for healthcare providers and health insurance companies, announced today it has signed a stock purchase and option agreement to sell 45% of its Brazil operations for U.S. $3.2 million. The Company would also receive a performance bonus, depending on transaction volumes reached during 2008, which could be worth up to an additional U.S. $1.2 million.
