EXHIBIT 10.1
AGREEMENT AND PLAN OF MERGER
This
Agreement and Plan of Merger (this "Agreement") is made and entered
into as of the 10th day of August,
2005, by and among
RoomLinX, Inc., a
Nevada
corporation ("RMLX"), SS-R Acquisition Corp., a Delaware corporation and a
wholly owned subsidiary of RMLX
("Subcorp"),
and SuiteSpeed,
Inc., a Delaware
corporation ("SuiteSpeed").
PRELIMINARY STATEMENTS
A. RMLX
desires to
combine its business with the business presently
operated by SuiteSpeed (the "SuiteSpeed
Business") through the merger of Subcorp
with and into SuiteSpeed, with SuiteSpeed as the surviving
corporation
(the
"Merger"). Pursuant to the Merger,
each share of
SuiteSpeed's
capital stock
outstanding at the Effective Time will be converted
into the right to
receive
RMLX Common Stock and cash in lieu of
fractional shares,
and SuiteSpeed will
become a wholly owned subsidiary of RMLX,
all as more fully provided herein.
B. The
Board of Directors of SuiteSpeed has determined that the Merger is
consistent with and in furtherance of the long-term business strategy of
SuiteSpeed and that it is in the best
interests of the holders of shares of
SuiteSpeed's capital stock to have a continuing
equity interest in the combined
businesses of RMLX and SuiteSpeed through
the ownership of RMLX Common Stock.
C. The
respective Boards of Directors of RMLX, Subcorp and SuiteSpeed
have
determined that the Merger, structured in the manner
contemplated
herein, is
desirable and in the best interests of their respective stockholders and, by
resolutions duly adopted, have approved and
adopted this Agreement.
D.
Stockholders
owning at least 98% of the outstanding shares of
SuiteSpeed Common Stock are expected to execute a consent approving this
Agreement and the Merger.
E. The
parties intend that the Merger constitute a "reorganization"
within
the meaning of Section 368(a) of the Internal
Revenue Code of 1986,
as amended
(the "Code").
F. The
parties desire that at
the Closing, the
existing notes payable to
Michael Wasik by SuiteSpeed in the
aggregate principal
amount of $170,000
will
be converted into shares of RMLX Common
Stock as described herein.
NOW,
THEREFORE, in consideration of the mutual covenants herein
contained,
the parties hereby adopt this Agreement as
and for a Plan of Merger (the "Plan")
under Section 368(a) of the Code, and in order to implement the Plan, the
parties hereby represent, warrant, covenant
and agree as follows:
ARTICLE I
DEFINITIONS
1.1
Specific Definitions.
For purposes of this
Agreement, the
following
terms shall have the following
meanings:
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"Affiliate" shall mean, with respect to any entity (the "Subject
Entity"),
any person or other entity which controls,
is controlled by, or
is under common
control with, the Subject Entity.
"Average
Market Price", on a particular Trading Day, shall mean the
average of the high bid price and the low asked price of one share of RMLX
Common Stock on the OTC Bulletin Board on such Trading Day, as such bid and
asked prices are reported by Bloomberg
L.P., or if such bid and asked prices are
not reported by Bloomberg L.P., as
furnished by Pink Sheets LLC.
"Business
Day" shall mean a Monday, Tuesday, Wednesday, Thursday or
Friday
other than a day on which commercial banks in the State of New Jersey
are not
open for business.
"Certificates" shall
mean stock certificates that, immediately prior to
the Effective Time, represent shares of SuiteSpeed
Common Stock to be converted
into the right to receive RMLX Common Stock
pursuant to Section 2.7.
"Exchange
Act" shall mean the Securities Exchange Act of 1934, as
amended.
"FNB
Notes" shall mean the promissory notes payable by SuiteSpeed to
First
National Bank of Colorado in the aggregate
principal amount of $300,000, copies
of which have been furnished to RMLX prior
to the date hereof.
"GAAP"
shall mean United States generally accepted accounting principles,
consistently applied.
"Laws"
shall mean all
statutes, laws, rules, regulations, orders and
ordinances relating to SuiteSpeed and its Subsidiaries or RMLX and its
Subsidiaries.
"Liens"
shall mean liens, encumbrances, security interests, pledges,
title
restrictions and other limitations on use, other than
restrictions on
transfer
imposed by federal or state securities
laws.
"Parties"
shall mean the parties
hereto; "Party" shall mean any of the
parties hereto.
"Person"
means any individual, corporation, partnership, limited
liability
company, business trust, sole
proprietorship or other entity.
"Pre-Closing Tax
Period" shall mean any period ending on or before the
Closing Date for which the Tax obligations
of SuiteSpeed and its Subsidiaries or
RMLX and its Subsidiaries may be
measured.
"Reasonable Best
Efforts" shall mean best efforts, to the extent
commercially reasonable.
"RMLX
Common Stock" shall mean the common stock, par value $.001 per
share, of RMLX.
"RMLX
Material Adverse Effect" shall mean a material adverse effect on
the
business, operations, assets, financial condition, results of operations or
prospects of RMLX and its Subsidiaries,
taken as a whole, or a
material adverse
affect on the ability of the Parties to
consummate the transactions contemplated
hereby on a timely basis.
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"SEC"
shall mean the Securities and Exchange Commission.
"Securities Act" shall mean the Securities Act of 1933, as
amended.
"Stockholder
Consent Documents"
shall mean (a) consents, executed
subsequent to the execution of this Agreement and in form and substance
satisfactory to RMLX, pursuant to which stockholders of SuiteSpeed owning at
least 98% of the outstanding shares of SuiteSpeed Common Stock shall have
approved the Merger and this Agreement
("SuiteSpeed
Stockholder Consents")
and
(b) a notice, in form and substance satisfactory to RMLX, pursuant to which
SuiteSpeed shall notify all other
stockholders,
in accordance with
Section 262
of the Statute, that the Merger has been
approved (the "262 Letter").
"SuiteSpeed Common
Stock" shall mean the common stock, par value $0.0001
per share, of SuiteSpeed.
"SuiteSpeed Employee" shall mean a Person who is an employee of
SuiteSpeed
or its Subsidiaries immediately prior to the Effective Time and becomes an
employee of the Surviving Corporation, RMLX or its Subsidiaries immediately
after the Effective Time.
"SuiteSpeed Material
Adverse Effect" shall mean a material adverse effect
on the business, operations, assets, financial
condition, results of operations
or prospects of SuiteSpeed and its
Subsidiaries,
taken as whole, or a
material
adverse affect on the ability of the
Parties to
consummate
the transactions
contemplated hereby on a timely basis.
"SuiteSpeed Options"
shall mean all options to purchase or acquire shares
of SuiteSpeed Common Stock, whether issued by SuiteSpeed pursuant to
SuiteSpeed's stock option plans or
otherwise.
"Stockholder" or
"SuiteSpeed
Stockholder"
shall mean each holder of
SuiteSpeed Common Stock immediately prior
to the Effective Time.
"Subsidiary" when used
with reference to a Person, shall mean any entity
(i) the accounts of which would be consolidated with those of such Person in
such Person's financial statements if such
financial statements were prepared in
accordance with GAAP or (ii) of which
securities or other
ownership interests
representing more than 50% of the equity or
more than 50% of the ordinary voting
power or, in the case of a partnership,
more than 50% of the general partnership
interests or more than 50% of the
profits or losses are
owned, controlled
or
held by such Person and/or one or more
subsidiaries of such Person.
2.
"Tax", "tax", "Taxes" or "taxes" shall mean any of the following
imposed by or payable to any governmental
authority: any income, gross receipts,
license, payroll, employment, excise, severance, stamp,
business,
occupation,
premium, windfall profits, environmental (including taxes
under Section 59A of
the Code), capital stock, franchise,
profits, withholding,
social security
(or
similar), unemployment, disability, real property, personal property, sales,
use, transfer, registration, or value added tax, any alternative or add-on
minimum tax, any estimated tax, and any levy, impost, duty, assessment,
withholding or any other governmental charge of any kind whatsoever, in each
case including any interest, penalty, or addition thereto,
whether disputed
or
not.
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3. "Tax Returns" or "tax returns" shall mean all returns and reports with
respect to sales, franchise, income and all
other Taxes.
1.2
Additional
Definitions.
The following terms are defined in the
following sections of this Agreement:
TERM
SECTION
Agreement
Opening Paragraph
Benefit Plan
3.18.1
Certificate of Merger
2.2
Closing
2.2
Closing Date
2.2
Code
Preliminary Statement E
Copyrights
3.10.1
Debt
3.2.3
Disposition
2.16.1
Dissenting Shares
2.9.1
Effective Time
2.2
Employment Agreement
6.3.2
Enforcement Notice
3.24.1.2
Environmental Law
3.24.1.4
ERISA
3.18.1
Fully Diluted Number
2.7.1
Intellectual Property
3.10.1
Laws
3.23
Maskworks
3.10.1
Merger
Preliminary Statement A
Merger Conversion Number
2.7.1
Merger Share Number
2.7.1
Option Plan
2.15.1
Parties
Lead-in
Patents
3.10.1
Pension Plan
3.18.2
Plan
Lead-in
Plan of Reorganization
2.14
Registered Intellectual Property
3.10.1
Registration Rights Agreement
6.4.3
Regulated Substance
3.24.1.2
Releasing
3.24.1.3
RMLX
Opening Paragraph
RMLX Business
4.1.1
RMLX Common Stock
1.1
RMLX Current Balance Sheet
4.1.1
RMLX Debt
4.2.2
RMLX Disclosure Schedule
4.1.1
RMLX Intellectual Property
4.4.1
RMLX Preferred Stock
4.2.1
RMLX Registered Intellectual Property
4.4.2
RMLX SEC Documents
4.6
RMLX Statement Date
4.9
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Secretary of State
2.2
Statement Date
3.28
Statute
2.1
Subcorp
Opening Paragraph
Subject Entity
1.1
SuiteSpeed
Opening Paragraph
SuiteSpeed Affiliate's Letter
6.2.5
SuiteSpeed Business
Preliminary Statement A
SuiteSpeed Current Balance Sheet
3.1.1
SuiteSpeed Disclosure Schedule
3.1.1
SuiteSpeed Employees
5.1
SuiteSpeed Financial Statements
3.25.1
SuiteSpeed Intellectual Property
3.10.1
SuiteSpeed Internal Controls
3.25.4
SuiteSpeed Real Property Leases
3.7.1
SuiteSpeed Registered Intellectual Property
3.10.2
SuiteSpeed Statement Date
3.28
Surviving Corporation
2.1
Tax Counsel
6.1
Tax Returns
3.26.1
Trademarks
3.10.1
1.3
Interpretation.
Unless otherwise
indicated to the contrary herein by
the context or use thereof: (i) the words, "herein," "hereto," "hereof" and
words of similar import refer to this Agreement as a whole and not to any
particular Section or paragraph hereof; (ii) words importing the masculine
gender shall also include the
feminine and neutral genders, and vice versa;
(iii) words importing the singular shall also include the plural, and vice
versa; and (iv) the word "including" means
"including without limitation". This
Agreement represents a collaborative effort undertaken by the Parties.
Accordingly, this Agreement is not to be
strictly construed against either Party
by virtue of the identity of the
draftsperson of any provision of this Agreement
or of this Agreement as a whole. ARTICLE
II
THE MERGER
2.1 The
Merger. Upon the terms
and subject to the conditions hereof, and
in accordance with the applicable
provisions of the
General Corporation
Law of
the State of Delaware (the "Statute"), Subcorp shall be merged with and into
SuiteSpeed at the Effective Time. As a result of the Merger, the separate
corporate existence of Subcorp shall cease
and SuiteSpeed
shall continue its
existence under the laws of the State of
Delaware. SuiteSpeed,
in its capacity
as the corporation surviving the Merger, is
hereinafter sometimes referred to as
the "Surviving Corporation."
2.2
Effective Time. As promptly as possible on the Closing
Date, the
parties shall cause the Merger to be
consummated by filing with the Secretary of
State of the State of Delaware (the "Secretary of State") a certificate of
merger (the "Certificate of Merger") in
such form as is required by and executed
in accordance with Section 251 of the
Statute. The Merger shall become effective
(the "Effective Time") upon filing of the Certificate of Merger with the
Secretary of State or at such later time and date as shall be agreed
upon by
RMLX and SuiteSpeed and specified in the
Certificate
of Merger.
Prior to the
filing referred to in this Section 2.2
but after SuiteSpeed
has delivered to
RMLX the Stockholder Consent Documents,
a closing (the
"Closing") shall be held
at the offices of Lowenstein Sandler PC, 65 Livingston
Avenue, Roseland, New
Jersey 07068 or such other place as the
parties may agree, on the first business
day after the date on which the Stockholder
Consent Documents are delivered to
RMLX (such date, the "Closing Date") or on such other date as
the parties may
agree.
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2.3 Effects of
the Merger. From and
after the Effective
Time, the Merger
shall have the effects set forth in this
Agreement,
the Certificate of Merger
and the applicable provisions of the
Statute. Without limiting the generality of
the foregoing, and subject thereto, at the
Effective Time, all of the property,
rights, privileges, powers and franchises of
SuiteSpeed and Subcorp shall vest
in the Surviving Corporation, and all of the debts, liabilities, obligations,
restrictions, disabilities and duties of
SuiteSpeed and Subcorp shall become the
debts, liabilities, obligations, restrictions, disabilities and duties of the
Surviving Corporation.
2.4
Certificate of Incorporation and Bylaws.
2.4.1 The certificate of incorporation of SuiteSpeed shall be
amended in the Merger to read in its entirety as set forth on Annex A to the
Certificate of Merger that is attached
hereto as Appendix 2.4
and as so amended
shall be the certificate of incorporation of the Surviving Corporation until
thereafter amended as provided therein and
by law.
2.4.2 The by-laws of Subcorp, as in effect immediately prior to
the
Effective Time, shall be the by-laws of the Surviving Corporation until
thereafter amended as provided therein,
in the certificate of
incorporation of
the Surviving Corporation and by law.
2.5
Directors and Officers of the Surviving Corporation. From and after
the Effective Time, (a) the directors of Subcorp immediately prior to the
Effective Time shall be the initial
directors of the Surviving Corporation, each
to hold office in accordance with applicable law, the certificate of
incorporation and by-laws of the Surviving
Corporation, and (b)
the officers of
Subcorp immediately prior to the Effective
Time shall be the initial officers of
the Surviving Corporation, in each case until their
respective successors
are
duly elected or appointed and
qualified.
2.6
Additional
Actions. If, at any time after the
Effective Time,
the
Surviving Corporation shall consider or be advised
that any further deeds,
assignments or assurances in law or any
other acts are necessary or desirable to
(a) vest, perfect or confirm, of record or otherwise, in the Surviving
Corporation its right, title or interest in, to or under any of the
rights,
properties or assets of SuiteSpeed
or Subcorp,
or (b) otherwise
carry out the
provisions of this Agreement, SuiteSpeed and Subcorp and their respective
officers and directors shall be deemed to have granted to the Surviving
Corporation an irrevocable power of attorney to execute and deliver
all such
deeds, assignments or assurances in law
and to take all acts necessary, proper
or desirable to vest, perfect or confirm
title to and possession of such rights,
properties or assets in the Surviving
Corporation and otherwise to carry out the
provisions of this Agreement, and the officers and directors of
the Surviving
Corporation are authorized to act on its behalf in
the name of SuiteSpeed
and
Subcorp or otherwise to take any and all
such actions.
2.7
Conversion of Securities.
2.7.1 Additional
Definitions. For
purposes of this Agreement, the
following terms shall have the following
meanings:
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"Fully Diluted
Number" shall mean the sum of (i) the
number of
shares of SuiteSpeed Common Stock
outstanding immediately prior to the Effective
Time and, (ii) the number of shares of SuiteSpeed Common Stock covered by
SuiteSpeed Options outstanding immediately
prior to the Effective Time.
"Merger Conversion
Number" shall mean the Merger Share Number
divided by the Fully Diluted Number,
rounded to four decimal places.
"Merger Share Number" shall mean 21,450,000.
2.7.2 Conversion. At the Effective Time, by virtue of the Merger
and
without any action on the part of the
Parties or the holders of any of the
following securities:
2.7.2.1 each issued and outstanding share of common stock of
Subcorp shall be converted into one validly
issued, fully paid and nonassessable
share of common stock, par value $0.0001 per share, of the Surviving
Corporation;
2.7.2.2 each
share of SuiteSpeed Common Stock held in
SuiteSpeed's treasury and each share of
SuiteSpeed Common Stock owned by RMLX or
any of its Subsidiaries shall be canceled without any
conversion thereof and no
payment or distribution shall be made with
respect thereto; and
2.7.2.3 subject to the
provisions
of Sections
2.8 and 2.9,
each share of SuiteSpeed Common Stock issued and
outstanding
immediately prior
to the Effective Time (other than (i)
shares canceled in accordance with Section
2.7.2.2 and (ii) Dissenting Shares) shall
be converted into the right to receive
a number of validly issued, fully paid and nonassessable
shares of RMLX
Common
Stock equal to the Merger Conversion Number. As of the Effective Time and
subject to Section 2.9, each such share of SuiteSpeed Common Stock shall no
longer be outstanding and shall
automatically be canceled, and each holder of a
certificate representing any such shares of
SuiteSpeed Common Stock shall cease
to have any rights with respect thereto other than the right to receive
(i)
shares of RMLX Common Stock to be issued in consideration therefor upon the
surrender of such certificate, (ii) any dividends and other
distributions
in
accordance with Section 2.11.2 and (iii)
any cash, without interest, to be paid
in lieu of any fractional share of RMLX Common Stock in
accordance with Section
2.10.
2.8
Adjustment of the
Exchange Ratios.
In the event that,
prior to the
Effective Time, any stock split,
combination, reclassification or stock dividend
with respect to the RMLX Common
Stock, any change or conversion of RMLX
Common
Stock into other securities or any other dividend
or distribution with
respect
to the RMLX Common Stock should occur or, if a record date
with respect to any
of the foregoing should occur, appropriate and proportionate
adjustments shall
be made to the Merger Conversion Number, and thereafter all references to
the
Merger Conversion Number shall be deemed
to be to such Merger Conversion Number
as so adjusted.
2.9
Dissenting Shares.
2.9.1 Notwithstanding
any provision of this Agreement to the
contrary, shares of SuiteSpeed Common Stock that are outstanding immediately
prior to the Effective Time and which are held by
stockholders
who shall not
have voted in favor of the Merger (or
consented thereto in
writing pursuant
to
Section 228 of the Statute) and who shall have demanded properly in writing
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appraisal for such shares in accordance with Section 262 of the Statute
(collectively, the "Dissenting Shares")
shall not be converted into or represent
the right to receive the consideration set forth in Section 2.7.2. Such
stockholders shall be entitled to receive
such consideration as is determined to
be due with respect to such Dissenting
Shares in accordance
with the provisions
of Section 262 of the Statute, except that all Dissenting Shares held by
stockholders who shall have failed to perfect or who effectively shall have
withdrawn or lost their rights to appraisal
of such shares under
Section 262 of
the Statute shall thereupon be deemed to have been
converted into and to have
become exchangeable for, as of the Effective Time, the right to receive the
shares of RMLX Common Stock specified in Section 2.7.2, without any interest
thereon, upon surrender, in the manner provided in Section 2.11, of the
certificate or certificates that formerly
evidenced such Dissenting Shares.
2.9.2 SuiteSpeed shall give RMLX (i) prompt notice in writing of
any
demands for appraisal received by
SuiteSpeed,
withdrawals of such demands, and
any other related instruments served pursuant to the Statute and
received by
SuiteSpeed and (ii) the opportunity to
direct all
negotiations and
proceedings
with respect to demands for appraisal under
the Statute.
SuiteSpeed shall
not,
except with the prior written consent of RMLX, make any payment
with respect to
any demands for appraisal or offer to
settle or settle any such demands.
2.10
No Fractional Shares. No certificates or scrip representing
fractional shares of RMLX Common Stock shall
be issued upon the
surrender for
exchange of Certificates and such
fractional shares shall not entitle the record
or beneficial owner thereof to vote or to any
other rights as a stockholder of
RMLX. In lieu of receiving any such
fractional share
(after taking into account
all Certificates delivered by a
Stockholder), the Stockholder shall receive cash
(without interest) in an amount rounded to
the nearest whole cent, determined by
multiplying (i) the Average Market Price on
the date immediately
preceding the
date on which the Effective Time shall
occur (or, if no such price is available,
the last day on which such price is
available prior to the
Effective Time) by
(ii) the fractional share to which such
holder would otherwise be entitled.
2.11
Exchange Procedures; Distributions with Respect to Unexchanged
Shares; Stock Transfer Books.
2.11.1 As of the Effective Time, RMLX shall deliver to its
transfer
agent a letter providing the transfer agent with all information reasonably
required to enable the transfer agent, upon RMLX' receipt of the letters of
transmittal described below, to issue stock certificates to the former
stockholders of SuiteSpeed. RMLX shall be
entitled to place such legends on such
certificates as RMLX shall determine to be
appropriate.
2.11.2 As soon as practicable after the Effective Time, RMLX shall
send to each Person who was, at the
Effective Time, a holder of record of shares
of SuiteSpeed Common Stock which were
converted into the
right to receive RMLX
Common Stock pursuant to Section 2.7.2, a
letter of transmittal
which (i) shall
specify that delivery shall be effected and risk of loss and title to such
holder's Certificates shall pass, only upon actual
delivery thereof to RMLX or
its agent and (ii) shall contain
instructions for use in effecting the surrender
of the Certificates. Upon surrender to RMLX or its
agent of Certificates
for
cancellation, together with such letter of
transmittal
duly executed and
such
other documents as RMLX may reasonably
require, such holder shall be entitled to
receive in exchange therefor (A) a
certificate
representing the number of whole
shares of RMLX Common Stock into which the
SuiteSpeed Common
Stock represented
by the surrendered Certificate shall have been
converted at the Effective Time,
(B) cash in lieu of any fractional share of
RMLX Common Stock in accordance with
Section 2.10 and (C) dividends and distributions, if any, that are payable in
accordance with Section 2.11.3,
and the Certificates
so surrendered shall
then
be canceled. Subject to Sections 2.9,
2.10 and 2.11.3,
until surrendered as
contemplated by this Section 2.11.2, each Certificate from and after the
Effective Time shall be deemed to represent
only the right to receive, upon such
surrender, the number of shares of RMLX
Common Stock into which such SuiteSpeed
Common Stock shall have been converted.
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2.11.3 No dividends or
other distributions
declared or made
after
the Effective Time with respect to the RMLX Common Stock with a record date
after the Effective Time shall be paid to any holder
entitled by reason of
the
Merger to receive certificates representing RMLX Common Stock and no cash
payment in lieu of a fractional
share of RMLX Common
Stock shall be paid to any
such holder pursuant to Section 2.10 until
such holder shall have
surrendered
its Certificates pursuant to this Section
2.11. Subject to applicable law,
following surrender of any such
Certificate, such
holder shall be paid, in each
case, without interest, (i) the amount of any dividends or
other
distributions
theretofore paid with respect to the shares
of RMLX Common Stock
represented by
the certificate received by such holder and
having a record date on or after the
Effective Time and a payment date prior to such surrender and (ii) at the
appropriate payment date or as promptly as
practicable thereafter, the amount of
any dividends or other distributions
payable with respect to such shares of RMLX
Common Stock and having a record date on or
after the Effective
Time but prior
to such surrender and a payment date on or
after such surrender.
2.11.4 If any certificate representing shares of RMLX Common Stock
or any cash is to be issued or paid to any Person other than the registered
holder of the Certificate surrendered in exchange therefor, it shall be a
condition to such exchange that such
surrendered
Certificate shall be
properly
endorsed and otherwise in proper form for transfer and
such Person either
(i)
shall pay to RMLX any transfer or other Taxes required as a result of the
issuance of such certificates of RMLX Common Stock
and the distribution of such
cash payment to such Person or (ii) shall
establish to the
satisfaction of RMLX
that such Tax has been paid or is not
applicable.
RMLX shall be entitled to
deduct and withhold from the consideration otherwise payable pursuant to this
Agreement to any former holder of shares of
SuiteSpeed Common Stock such amounts
as RMLX is required to deduct and
withhold with respect to the making of such
payment under the Code, or any provision of
state, local or
foreign Tax law. To
the extent that amounts are so withheld by
RMLX, such withheld
amounts shall be
treated for all purposes of this
Agreement as having
been paid to the holder of
the shares of SuiteSpeed Common Stock in respect of which
such deduction
and
withholding was made by RMLX. All amounts in respect of Taxes received or
withheld by RMLX shall be disposed
of by RMLX in
accordance
with the Code or
such state, local or foreign Tax law, as
applicable.
2.11.5 If any Certificate shall have been lost, stolen or
destroyed,
upon the making of an affidavit of that fact by the Person claiming such
Certificate to be lost, stolen or destroyed
and subject to such other conditions
as the Board of Directors of RMLX may
reasonably
impose, RMLX shall cause its
transfer agent to issue in exchange for such lost, stolen or destroyed
Certificate the shares of RMLX Common Stock as
determined
under Section
2.7.2
and pay any cash, dividends or other distributions as determined in
accordance
with Sections 2.10 and 2.11.3 in respect of such
Certificate;
provided, that
RMLX may, in its reasonable discretion and as a condition precedent to the
issuance thereof, require the owner of such lost, stolen or destroyed
Certificate to deliver a bond in such sum as it may reasonably require as
indemnity against any claim that may be made against RMLX or the Surviving
Corporation with respect to the Certificate
alleged to have been lost, stolen or
destroyed.
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2.11.6 At the close of
business on the day on
which the
Effective
Time occurs, SuiteSpeed's stock transfer books shall be closed and
thereafter
there shall be no further registration of transfers of shares of SuiteSpeed
Common Stock on SuiteSpeed's records. From and after the Effective
Time, the
holders of shares of SuiteSpeed
Common Stock
outstanding
immediately prior
to
the Effective Time shall cease to have any
rights with respect to
such shares
except as otherwise provided herein or by
applicable law.
2.11.7 All shares of RMLX Common Stock issued pursuant to the
Merger
shall be represented by a stock certificate
which shall contain a legend stating
substantially as follows:
"THE SHARES OF COMMON STOCK REPRESENTED BY THIS CERTIFICATE HAVE NOT
BEEN REGISTERED
UNDER THE SECURITIES ACT OF 1933 OR ANY STATE
SECURITIES LAW. SUCH
SHARES MAY NOT BE SOLD, PLEDGED, DISPOSED OF OR
OTHERWISE
TRANSFERRED IN THE ABSENCE OF SUCH REGISTRATION OR AN OPINION
OF COUNSEL
SATISFACTORY TO THE
ISSUER THAT SUCH
REGISTRATION IS
NOT
REQUIRED."
2.12
Abandoned Property. None of RMLX, Subcorp or SuiteSpeed shall be
liable to any former holder of SuiteSpeed Common Stock for any shares of
RMLX
Common Stock held (and any cash, dividends
and distributions
payable in respect
thereof) which are not claimed by such
former holder on a
timely basis and are
delivered to a public official under any
applicable abandoned property, escheat
or similar law.
2.13
No Further Ownership Rights in SuiteSpeed Common Stock. All
certificates representing shares of RMLX Common Stock delivered upon the
surrender for exchange of any Certificate in accordance
with the terms
hereof,
as well as any cash paid pursuant to Section 2.10 or Section 2.11, shall be
deemed to have been delivered (and paid) in full satisfaction of all rights
pertaining to the SuiteSpeed Common Stock previously represented by such
Certificate.
2.14 Tax
Consequences.
It is intended that
the Merger shall constitute a
"reorganization" within the meaning of
Section 368(a) of the Code, and that this
Agreement shall constitute a "plan of reorganization" for the purposes of the
Code.
2.15
Treatment of Stock Options
2.15.1 Option
Conversion. At the
Effective Time,
all SuiteSpeed
Options then outstanding under the 2004 Stock Option/ Stock
Issuance Plan (the
"Option Plan"), whether vested or unvested, shall be assumed by RMLX in
accordance with this Section 2.15.1.
Each SuiteSpeed
Option so assumed by
RMLX
at the Effective Time will continue to have,
and be subject to, the
same terms
and conditions set forth in the Option Plan
immediately
prior to the
Effective
Time (including, without limitation, any repurchase rights), except that (i)
each SuiteSpeed Option will be exercisable (or will become exercisable in
accordance with its terms) for that number of
whole shares of RMLX Common Stock
equal to the product of the number of shares of
SuiteSpeed
Common Stock that
were underlying such SuiteSpeed
Option immediately prior to the Effective
Time
multiplied by the Merger Conversion Number, rounded down to the nearest
whole
number of shares of RMLX Common Stock, and
(ii) the per share exercise price for
the shares of RMLX Common Stock issuable upon exercise of such assumed
SuiteSpeed Option will be equal to the
quotient determined by dividing the
exercise price per share of SuiteSpeed Common Stock at which such
SuiteSpeed
Option was exercisable immediately prior to the Effective
Time by the Merger
Conversion Number, rounded down to the nearest whole
cent; provided,
however,
that in the case of any SuiteSpeed Option to which Section 422 of the Code
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applies, the option price, the number of shares purchasable pursuant to such
option and the terms and conditions of exercise of such option shall be
determined in accordance with Section
424(a) of the Code. In connection with the
assumption by RMLX of the SuiteSpeed
Options pursuant to this Section
2.15.1,
SuiteSpeed shall be deemed to have assigned
to RMLX, effective at
the Effective
Time, SuiteSpeed's right, if any, to repurchase
unvested shares of
SuiteSpeed
Common Stock issuable upon the exercise of
the SuiteSpeed Options
or previously
issued upon the exercise of options granted
under the Option Plan, in accordance
with the terms of the Option Plan and the
related stock option
agreements
and
stock purchase agreements entered into
under the Option Plan.
2.15.2 Procedures
for Option
Conversion.
As soon as
practicable
after the Effective Time, RMLX shall deliver to the
participants in the
Option
Plan appropriate notices setting forth such participants' rights pursuant
thereto, that RMLX has assumed all
obligations of
SuiteSpeed under the
Option
Plan and that the grants pursuant to the
Option Plan shall continue in effect on
the same terms and conditions (subject to the adjustments required by this
Section 2.15 after giving effect to the Merger). RMLX shall comply with the
terms of the Option Plan and the parties
intend that, to the extent required by,
and subject to the provisions of, such Option Plan and Sections
422 and 424(a)
of the Code, that Options which qualified as incentive
stock options prior
to
the Effective Time will continue to qualify
as incentive stock options after the
Effective Time, and this provision
shall be interpreted
consistent
with that
intent. RMLX shall take all corporate
action necessary to reserve for issuance a
sufficient number of shares of RMLX Common
Stock for delivery
upon exercise of
the SuiteSpeed Options assumed in accordance with this
Section 2.15, and shall
promptly after closing file a registration statement with the SEC with
respect
to such assumed Option Plan in accordance
with the Securities Act.
2.15.3 Consent.
SuiteSpeed
has obtained on or prior to the date
hereof a consent (in form and substance
reasonably
satisfactory
to RMLX) from
each holder of a SuiteSpeed Option to the amendment of such
SuiteSpeed
Option
pursuant to this Section 2.15 (unless such consent is not required
under the
terms of the applicable agreement,
instrument or plan).
ARTICLE III
REPRESENTATIONS AND WARRANTIES OF SUITESPEED
SuiteSpeed
represents and warrants to RMLX and Subcorp as follows:
3.1
Organization.
3.1.1 SuiteSpeed is a corporation duly organized, validly existing
and in good standing under the laws of the State of
Delaware and has the power
and authority to own, lease and operate its properties and to conduct the
SuiteSpeed Business. SuiteSpeed is duly qualified to transact business as a
foreign corporation and is in good standing in each
jurisdiction in which
the
conduct of its business or the ownership, leasing or operation of its
property
requires such qualification, except for failures to be so
qualified or in good
standing which would not, singly or in the aggregate with all such other
failures, have a SuiteSpeed Material Adverse Effect.
SuiteSpeed does not
have
any liability or obligation relating to any
failure in the past to qualify to do
business in any jurisdiction other than
liabilities and obligations reflected in
SuiteSpeed's consolidated balance sheet as of March 31, 2005
(the "SuiteSpeed
Current Balance Sheet"), a copy of which is set forth in
Section 3.25.1 of the
disclosure schedule delivered by SuiteSpeed
to RMLX
contemporaneously with
the
execution of this Agreement (the
"SuiteSpeed Disclosure
Schedule").
SuiteSpeed
is not in violation of any of the
provisions of its
organizational
documents.
True and complete copies of such organizational documents, as currently in
effect, have previously been delivered to
RMLX's counsel.
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3.1.2 True
and complete copies of SuiteSpeed's minute books
(covering all meetings of the board of directors, committees thereof and
shareholders of SuiteSpeed since January 1, 1999) and stock
transfer records
(since inception) have been delivered to RMLX's counsel prior to the date
hereof.
3.1.3 Section 3.1.3 of the SuiteSpeed Disclosure Schedule lists
each
stock purchase agreement, registration rights agreement, stockholders'
agreement, voting rights agreement, investor agreement and other agreement
entered into by SuiteSpeed in connection with the issuance of any shares
of
SuiteSpeed Common Stock and, to SuiteSpeed's
knowledge,
all other agreements
among the shareholders of SuiteSpeed, in their capacities as such. True and
complete copies of each of the agreements
listed in such Section 3.1.3 have been
delivered to RMLX's counsel prior to the
date hereof.
3.2
Capitalization; Funded Debt.
3.2.1 Section 3.2.1 of the SuiteSpeed Disclosure Schedule sets
forth
the number of shares of each class and
series of capital stock of SuiteSpeed
which are authorized for issuance and, as
of the date hereof, the number of such
shares that are outstanding. Such Section 3.2.1 also sets forth the names
and
addresses of the record and, to the extent known by SuiteSpeed, beneficial
owners of such outstanding shares (showing, for each such owner, the number
of
such shares owned of record and
beneficially) as of the date hereof. All of such
outstanding shares are fully paid and
non-assessable,
have been validly
issued
and were issued in compliance with all applicable laws and agreements to which
SuiteSpeed is or was a party. No outstanding shares of SuiteSpeed's capital
stock are, or have ever been, subject to preemptive rights or rights of first
refusal other than rights described in the
agreements listed in Section 3.1.3 of
the SuiteSpeed Disclosure Schedule, which rights have been waived or
satisfied
in all applicable instances.
3.2.2 Section 3.2.2 of the SuiteSpeed Disclosure Schedule lists,
for
each person who owns any options or rights
to purchase any shares of the capital
stock of SuiteSpeed, the class and series of shares
issuable upon exercise
of
such options or rights, the number of shares subject to
such warrants,
options
or rights, the grant date of such options or
rights, the vesting
date or dates
of such options or rights and the plans and
agreement (true and
complete copies
of which have been delivered to RMLX's
counsel) pursuant to which such options
or rights have been granted. Except as set forth in Section 3.2.1 of the
SuiteSpeed Disclosure Schedule, SuiteSpeed does not have outstanding any
subscriptions, options, rights, convertible securities or other
agreements or
commitments to issue, or contracts or any
other agreements obligating SuiteSpeed
to issue, or to transfer from treasury, any
shares of capital stock of any class
or kind, or securities convertible into
such capital stock. Each option or right
granted by SuiteSpeed has been granted in
accordance with all
applicable
laws
and regulations, including (with respect to the
SuiteSpeed Options) Rule 701 of
the SEC and all applicable state securities
laws.
3.2.3 Except for the FNB Notes and as set forth in Section
3.2.3 of
the SuiteSpeed Disclosure Schedule,
SuiteSpeed has no term
or funded debt, debt
to banks or debt to Affiliates (the
"Debt"). Such Section
3.2.3 lists each loan
agreement, credit agreement, mortgage, indenture, promissory note, security
agreement or other agreement or instrument to which SuiteSpeed is a party
evidencing term or funded debt, debt to banks or debt to
Affiliates, true
and
complete copies of which (including, without limitation, all documentation
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relating to the FNB Notes) have been
delivered to RMLX's
counsel prior to the
date hereof. Except as set forth in such Section 3.2.3 of the SuiteSpeed
Disclosure Schedule, no event has occurred which (whether with or without
notice, lapse of time or the happening or occurrence of any
other event) would
constitute a default by SuiteSpeed under any agreement or other instrument
relating to any funded debt, bank loan or debt to Affiliates listed in such
Section 3.2.3 of the SuiteSpeed
Disclosure Schedule
which has not been cured or
waived (true and complete copies of which waivers are set
forth in such Section
3.2.3 of the SuiteSpeed Disclosure
Schedule).
3.2.4 Except
as set forth in Section 3.2.4 of the SuiteSpeed
Disclosure Schedule, SuiteSpeed has not guaranteed the obligations of any
third-party, including any joint venture, any
officer, director or
shareholder
of SuiteSpeed or any entity affiliated with any such officer, director or
shareholder.
3.2.5 There are no declared and unpaid dividends on any shares of
SuiteSpeed Common Stock.
3.3
Subsidiaries; Acquisitions; Dispositions; Jurisdictions.
3.3.1 SuiteSpeed does not directly or indirectly own or control,
and
has never directly owned or controlled, any
Subsidiary .
3.3.2 SuiteSpeed does not, directly or indirectly, (i) own of
record
or beneficially (A) any shares of capital stock or
securities convertible
into
capital stock of any other corporation or (B) any equity interest in any
partnership, joint venture, limited liability company or other business
enterprise or (ii) own or control any other entity. Since January 1, 1999,
SuiteSpeed has not acquired the capital
stock or assets of any business entity,
or invested in any partnership,
limited partnership,
limited liability company,
joint venture or other business entity.
3.3.3 There are no agreements between SuiteSpeed and any
third-party
relating to the operation, governance,
ownership or other material aspect of any
joint venture.
3.3.4 Except
as set forth in Section 3.3.4 of the SuiteSpeed
Disclosure Schedule, SuiteSpeed has not,
since its formation, purchased, sold or
otherwise disposed of any assets or entity
otherwise than in the ordinary course
of business.
3.3.5 The SuiteSpeed
Business is not
conducted through any
entity
other than SuiteSpeed.
3.4 Tax
Jurisdictions. Section
3.4 of the SuiteSpeed
Disclosure Schedule
lists each jurisdiction with respect to
which SuiteSpeed is required to file Tax
Returns.
3.5
Other Business Names. Section 3.5 of the SuiteSpeed Disclosure
Schedule lists each business name or trade name used in
connection
with the
SuiteSpeed Business by SuiteSpeed or its predecessors or by any companies
acquired by or merged into such
entities, and each jurisdiction in which any
such trade name is registered.
3.6 Owned
Real Property. SuiteSpeed does not own any real property.
3.7 Leased
Real Property.
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3.7.1 Section 3.7.1 of the SuiteSpeed Disclosure Schedule sets
forth
all leases pursuant to which SuiteSpeed
leases any real estate
(the "SuiteSpeed
Real Property Leases"). True and complete
copies of the SuiteSpeed Real Property
Leases have been delivered to counsel for
RMLX prior to the date hereof.
3.7.2 SuiteSpeed is not in default in any material respect under
the
SuiteSpeed Real Property Leases. SuiteSpeed
is not aware of any facts that, with
notice and/or the passage of time, would constitute such a default. The
possession of the applicable real property by SuiteSpeed
under the
SuiteSpeed
Real Property Leases has not been disturbed
and, to SuiteSpeed's
knowledge, no
claim has been asserted against
SuiteSpeed
which is materially
adverse to its
rights in such leasehold interests.
3.7.3 To SuiteSpeed's
knowledge,
the portions of the buildings
leased by SuiteSpeed pursuant to the SuiteSpeed
Real Property Leases
comply in
all material respects with all applicable statutes, ordinances, rules and
regulations relating to the construction of such buildings and their current
use. The roof, exterior walls, and all other structural components of the
portions of such buildings leased to
SuiteSpeed are in good condition, ordinary
wear and tear excepted. SuiteSpeed has performed all
periodic maintenance which
it has been required to perform under
applicable lease
provisions, and has
not
deferred any such maintenance. The heating, air conditioning, plumbing, fire
sprinkler system, lighting and loading doors, if
any, and electrical systems of
the portions of such buildings leased by SuiteSpeed are in good operating
condition, ordinary wear and tear excepted. SuiteSpeed has not sublet such
buildings or any part thereof.
3.7.4 SuiteSpeed, as a tenant, has never assigned a lease to a
third
party.
3.7.5 Consummation of
the Merger will not constitute an assignment,
sublease or default under the SuiteSpeed Real Property Leases or otherwise
require any consent under any of the
SuiteSpeed Real Property Leases.
3.7.6 All of the SuiteSpeed Real Property Leases (i) are valid and
subsisting and in full force and effect
with respect to SuiteSpeed and, to
SuiteSpeed's knowledge, with respect to any other party
thereto and (ii)
were
entered into as a result of bona fide arm's
length negotiations
with the other
party or parties thereto. SuiteSpeed has valid leasehold interests in all
properties leased thereunder free and clear
of all Liens.
3.8
Tangible Personal Property.
3.8.1 Section 3.8.1 of the SuiteSpeed Disclosure Schedule
identifies
all items of tangible personal property owned and used by SuiteSpeed in
connection with the SuiteSpeed Business on the date hereof which had a book
value of more than $1,000 as of the date of the SuiteSpeed Current Balance
Sheet, including machinery, motor vehicles, computer equipment, furniture,
fixtures and leasehold improvements.
3.8.2 Section 3.8.2 of the SuiteSpeed Disclosure Schedule contains
a
true and complete list of all machinery,
motor vehicles, computer equipment,
other equipment, furniture, fixtures, and all other tangible
personal property
leased by SuiteSpeed for the SuiteSpeed
Business on the date
hereof pursuant to
leases which involve monthly payments of more than $500 on
account of any such
lease. True and complete copies of all leases pursuant to
which such items are
leased to SuiteSpeed have been furnished to RMLX's counsel prior to the date
hereof. SuiteSpeed is not in default in
any material respect
under any of such
leases and is not aware of any fact which,
with notice and/or
passage of time,
would constitute such a default.
All of the leases so
listed (i) are valid and
subsisting and in full force and effect
with respect to SuiteSpeed, and, to
SuiteSpeed's knowledge, with respect to any other party
thereto and (ii)
were
entered into as a result of bona fide arm's
length negotiations
with the other
party or parties thereto. SuiteSpeed has valid leasehold interests in all
personal property leased thereunder free
and clear of all Liens.
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3.8.3 All personal
property owned by
SuiteSpeed or leased and used
by SuiteSpeed in the SuiteSpeed
Business is in good
condition, normal wear
and
tear excepted, and is in good operating
order.
3.9 Proprietary Information. No
third party has claimed that SuiteSpeed or
any officer, director, or other person
engaged now or in the past five (5) years
by, or affiliated now or in the past five (5) years
with, SuiteSpeed
has (i)
violated or may be violating any of the terms or conditions of his or her
employment, non-competition or non-disclosure
agreement with such
third party,
(ii) disclosed or may be disclosing or utilized or may be utilizing
any trade
secret or proprietary information or documentation of
such third party or (iii)
interfered or may be interfering in the employment relationship between such
third party and any of its present or former employees. No third party has
requested information from SuiteSpeed which
suggests that such a claim might be
contemplated. To SuiteSpeed's knowledge, no
officer, director, or
other person
engaged now or in the past five (5) years
by, or affiliated
now or in the past
five (5) years with, SuiteSpeed has employed or proposes to employ any
trade
secret or any information or documentation proprietary to any former
employer,
and, to SuiteSpeed's knowledge, no officer, director, or other person
engaged
now or in the past five (5) years by, or
affiliated now or in
the past five (5)
years with, SuiteSpeed has violated any
confidential
relationship
which such
person may have had with any third party,
in connection with the
development or
sale of any product, service or proposed product or service of SuiteSpeed.
To
SuiteSpeed's knowledge, neither the consummation of the transactions
contemplated by this Agreement nor the
carrying on of the SuiteSpeed Business as
officers, employees or agents by any officer, director or key employee of
SuiteSpeed, or the conduct or proposed conduct
of the SuiteSpeed Business, will
conflict with or result in a breach of the
terms, conditions or provisions of or
constitute a default under any contract,
covenant or instrument
under which any
such officer, director or key employee is
obligated. For the
past three years,
each employee and consultant of SuiteSpeed who has been afforded access to
proprietary information of SuiteSpeed has executed a confidentiality and
non-disclosure agreement. Section 3.9 of
the SuiteSpeed Disclosure Schedule sets
forth copies of the template
confidentiality and non-disclosure agreements that
SuiteSpeed has used in the SuiteSpeed
Business over the past three years.
3.10
Intellectual Property.
3.10.1 For the purposes of this Agreement, the following terms
shall
have the following definitions:
"SuiteSpeed
Intellectual Property"
means any Intellectual Property
that is owned by or licensed to
SuiteSpeed.
"Intellectual
Property" means any or
all of the following
and all
rights in, arising out of, or associated
therewith:
(i) all United States
and
foreign patents and utility models and
applications
therefor and all
reissues,
divisions, renewals, extensions,
provisionals, continuations
and
continuations-in-part thereof, and equivalent or similar
rights anywhere in the
world in inventions and discoveries
("Patents");
(ii) all inventions
(whether
patentable or not), invention disclosures, improvements, trade secrets,
proprietary information, know how, technology, technical data and customer
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lists, and all documentation embodying or
evidencing any of the foregoing; (iii)
all copyrights, copyright registrations and
applications therefor and all other
rights corresponding thereto throughout the
world ("Copyrights");
(iv) all mask
works, mask work registrations and
applications therefor,
and any equivalent or
similar rights in semiconductor masks, layouts, architectures or topology
("Maskworks"); (v) all industrial designs
and any registrations and applications
therefor throughout the world; (vi) all trade names, logos, common law
trademarks and service marks, trademark and service mark registrations and
applications therefor and all goodwill
associated therewith throughout the world
("Trademarks"); (vii) all databases and database collections and all rights
therein throughout the world; (viii) all computer software
including all source
code, object code, firmware, development code, files, records
and data, and any
medium on which any of the foregoing is recorded; (ix) all World Wide Web
addresses, sites and domain names; and (x) any similar, corresponding or
equivalent rights to any of the foregoing
anywhere in the world.
"Registered
Intellectual
Property" means
all United States,
international and foreign: (i) Patents,
including applications
therefor; (ii)
registered Trademarks, applications to register Trademarks, including
intent-to-use applications, or other registrations or
applications related
to
Trademarks; (iii) Copyright registrations and applications to register
Copyrights; (iv) Maskwork registrations and
applications to register Maskworks;
and (v) any other Intellectual Property owned by a Party hereto that is the
subject of an application, certificate, filing, registration or other
document
issued by, filed with, or recorded by, any state,
government
or other public
legal authority at any time. 32. 3.10.2 Section 3.10.2 of the SuiteSpeed
Disclosure Schedule lists all Registered
Intellectual
Property, in whole or
in
part owned by or filed in the name of SuiteSpeed ("SuiteSpeed Registered
Intellectual Property").
3.10.3 Each
item of SuiteSpeed Intellectual Property owned by
SuiteSpeed, including all SuiteSpeed
Registered Intellectual Property listed in
Section 3.10.2 of the SuiteSpeed
Disclosure Schedule,
is free and clear of
all
Liens, other than end-user licenses granted
by SuiteSpeed pursuant to a standard
form of end-user license, a true and complete copy of which,
if applicable, is
set forth in Section 3.10.3 of the
SuiteSpeed Disclosure Schedule.
3.10.4 SuiteSpeed
owns exclusively, and has good title to, all
copyrighted works that are software
products of
SuiteSpeed
or other works of
authorship that SuiteSpeed otherwise purports to own, except for any items
described in Section 3.10.4 of the
SuiteSpeed Disclosure
Schedule
representing
material portions of freeware owned by third parties and except
for immaterial
portions of freeware (which are not required to be disclosed in such Section
3.10.4).
3.10.5 Except
as otherwise indicated in Section 3.10.5 of the
SuiteSpeed Disclosure Schedule and except for end-user licenses granted by
SuiteSpeed pursuant to its standard form of
end-user license,
if applicable,
SuiteSpeed has not transferred ownership of, or granted any
license or right to
use, any Intellectual Property that is, or
was, SuiteSpeed Intellectual Property
to any other person or knowingly permitted SuiteSpeed's rights in such
SuiteSpeed Intellectual Property to lapse
or enter into the public domain.
3.10.6 Except as set
forth in Section 3.10.6 of the SuiteSpeed
Disclosure Schedule, the SuiteSpeed Intellectual Property constitutes all the
Intellectual Property used in the conduct of the SuiteSpeed Business as
currently conducted including (i) the making, using, selling, marketing or
importing of any product or device, (ii)
the practice of any process, (iii) the
offering or performance of any service, or (iv) the copying, display,
performance, distribution, creation of
derivative works of, or the exploitation
of, any device or work.
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3.10.7 Section 3.10.7 of the SuiteSpeed Disclosure Schedule
contains
a list of all contracts, licenses and agreements (other than off-the-shelf
end-user licenses available to the general
public) pursuant to which any person,
including any Affiliate of SuiteSpeed
(other than a
Subsidiary of
SuiteSpeed),
has licensed any Intellectual Property to SuiteSpeed.
Copies of such
documents
currently in effect have been provided to
RMLX's counsel prior the date hereof.
3.10.8 The
consummation of the
transactions
contemplated by
this
Agreement will not cause or obligate
SuiteSpeed (i) to
grant to any third party
any rights or licenses with respect to any
SuiteSpeed
Intellectual Property
or
(ii) to pay any royalties or other amounts in excess of those being paid by
SuiteSpeed prior to the date hereof.
3.10.9
Section 3.10.9 of the SuiteSpeed Disclosure Schedule contains
a list of all agreements, licenses and contracts
pursuant to which
SuiteSpeed
has agreed to indemnify, hold harmless, or otherwise agree
to be liable for any
losses, costs or damages of a third party with respect to any Intellectual
Property or product or service of
SuiteSpeed.
True and complete
copies of all
such agreements, licenses and contracts
have been provided to
RMLX's counsel
prior to the date hereof.
3.10.10 All material SuiteSpeed Intellectual Property, including
any
item thereof, is fully transferable, alienable or licensable by SuiteSpeed
without restriction and without payment of
any kind to any third party.
3.10.11 The
consummation of the
transactions
contemplated by this
Agreement will not result in the loss of, or
otherwise adversely
affect, any
ownership rights of SuiteSpeed in any
SuiteSpeed Intellectual Property or result
in the breach or termination of any license, contract or agreement to which
SuiteSpeed is a party respecting any
material SuiteSpeed Intellectual Property.
3.10.12 Except as set
forth in Section
3.10.12 of the
SuiteSpeed
Disclosure Schedule, to the knowledge of SuiteSpeed, the operation of the
SuiteSpeed Business, including (i) the making,
using, selling, marketing or
importing of any product or device, (ii)
the practice of any process, (iii) the
offering or performance of any service, or (iv) the copying, display,
performance, distribution, creation of
derivative works of, or the exploitation
of any device or work does not
infringe or misappropriate the Intellectual
Property of any Person, violate the rights of any Person,
or constitute
unfair
competition or unfair trade practices under the laws of any
jurisdiction,
and
SuiteSpeed has not received written notice from any Person
claiming that such
operation or any act, product, technology or service of the
SuiteSpeed Business
infringes or misappropriates the Intellectual Property of any Person or
constitutes unfair competition or unfair trade
practices under the laws of any
jurisdiction. To SuiteSpeed's knowledge, (i) the making, using, selling,
marketing or importing of any product or
device currently under
development by
SuiteSpeed, (ii) the practice of any process
currently under development by
SuiteSpeed, (iii) the offering or performance of any service
currently under
development by SuiteSpeed, or (iv) the copying, display, performance,
distribution, creation of derivative works
of, or the exploitation of any device
or work currently under development by SuiteSpeed, does not infringe or
misappropriate t