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Delaware corporation (the +ADw-b+AD4gHA-Buyer+IB0APA-/b+AD4-) whose
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Leawood, Kansas 66211, and David Hawkins, residing at 816 Wagon
Knob Road, Odessa, Missouri 64076 (Mr. Bodine and Mr. Hawkins are
collectively referred to herein as the
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and warranties contained in this Agreement and other good and
valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, Buyer and Seller agrees as follows:
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conditions of this Agreement, Seller will, at Closing, sell,
convey, transfer, assign and deliver to Buyer, and Buyer will
purchase and acquire from Seller, free and clear of all liens
(except for Permitted Liens), the entire right, title and interest
in and to the following assets (+IBw-collectively, the
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records, files and reports, whether written, printed or
electronically stored, related to the Business or the Assets.
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style+AD0-'font-size:10.0pt'+AD4-. All of Seller+IBk-s rights and
incidents of interest in and to causes of action, suits,
proceedings, judgments, claims and demands of any nature, whenever
maturing or asserted, relating to or arising directly or indirectly
out of the Assets or the Business, including all interests in and
rights to claims under insurance policies and insurance contracts
and claims thereunder. +ADw-/span+AD4APA-/p+AD4- +ADw-/td+AD4-
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style+AD0-'font-size:10.0pt'+AD4-Intangible
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style+AD0-'font-size:10.0pt'+AD4-. All goodwill of Seller
associated with the Business, all Intellectual Property Rights
owned or used by Seller, including the trade name +IBw-Austin
International Marketing and Investments, Inc.+IB0-, all telephone
listings and telephone numbers, all lists of customers, files,
books and records and other information relating to the day to day
carrying on of the Business by Seller, and all other rights used by
Seller in connection with the Business (collectively, the
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described in Section 1.1, the properties, assets, rights and
interests owned by Seller and listed on +ADw-u+AD4-Schedule
1.2+ADw-/u+AD4- (collectively, the +ADw-b+AD4gHA-Excluded
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conditions of this Agreement, Buyer will, as of the Closing Date,
assume and agree to discharge only those unpaid obligations and
liabilities and trade payables included in the Seller+IBk-s
Financial Statements attached hereto as +ADw-u+AD4-Schedule
2.17.1+ADw-/u+AD4- and all liabilities and obligations arising
after the date hereof with respect to any Contracts transferred to
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class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-1.4.+ADw-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-u+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-Payment of Purchase
Price+ADw-/span+AD4APA-/u+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-. Buyer will pay the purchase
price for the Assets as provided in +ADw-u+AD4-Schedule
1.4+ADw-/u+AD4- (the +ADw-b+AD4gHA-Purchase Price+IB0APA-/b+AD4-).
Notwithstanding any provision to the contrary, the payment of the
Purchase Price shall not, in any way, be contingent upon either of
the Shareholders+IBk- employment or affiliation with Buyer.
+ADw-/span+AD4APA-/p+AD4- +ADw-/td+AD4- +ADw-/tr+AD4-
+ADw-/table+AD4- +ADw-p
style+AD0-'margin:0in+ADs-margin-bottom:.0001pt'+AD4APA-span
style+AD0-'font-size:7.5pt'+AD4AJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-p
style+AD0-'margin:0in+ADs-margin-bottom:.0001pt'+AD4APA-b+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-2. REPRESENTATIONS AND WARRANTIES
OF SELLER +ADw-/span+AD4APA-/b+AD4APA-/p+AD4- +ADw-p
style+AD0-'margin:0in+ADs-margin-bottom:.0001pt'+AD4APA-span
style+AD0-'font-size:7.5pt'+AD4AJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-p
style+AD0-'margin-top:0in+ADs-margin-right:0in+ADs-margin-bottom:0in+ADs-margin-left:24.45pt+ADs-
margin-bottom:.0001pt'+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-Seller and the Shareholders,
jointly and severally, hereby represent and warrant to Buyer as
follows, and acknowledge and confirm that Buyer is relying upon
such warranties and representations in connections with the
purchase of the Assets. +ADw-/span+AD4APA-/p+AD4- +ADw-p
style+AD0-'margin:0in+ADs-margin-bottom:.0001pt'+AD4APA-span
style+AD0-'font-size:7.5pt'+AD4AJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-table class+AD0-MsoNormalTable border+AD0-0 cellspacing+AD0-0
cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-border-collapse:collapse+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0AIg-4+ACUAIg-
style+AD0-'width:4.0+ACUAOw-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:7.5pt'+AD4AJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td width+AD0AIg-4+ACUAIg- valign+AD0-top
style+AD0-'width:4.0+ACUAOw-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-2.1.+ADw-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-u+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-Organization, Power and
Authority+ADw-/span+AD4APA-/u+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-. Seller is a corporation duly
organized, validly existing and in good standing under the Laws of
the State of Kansas, and has the power and authority to own,
operate and lease its properties and carry on the Business as it is
presently being conducted. Except for such lack of qualification
that will not have a Material Adverse Effect on the Business, the
Seller is duly qualified and licensed to transaction business in
each jurisdiction in which the nature of the Business or the
location of its properties makes such qualification or licensing
necessary. +ADw-/span+AD4APA-/p+AD4- +ADw-/td+AD4- +ADw-/tr+AD4-
+ADw-/table+AD4- +ADw-p
style+AD0-'margin:0in+ADs-margin-bottom:.0001pt'+AD4APA-span
style+AD0-'font-size:7.5pt'+AD4AJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-table class+AD0-MsoNormalTable border+AD0-0 cellspacing+AD0-0
cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-border-collapse:collapse+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0AIg-4+ACUAIg-
style+AD0-'width:4.0+ACUAOw-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:7.5pt'+AD4AJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td width+AD0AIg-4+ACUAIg- valign+AD0-top
style+AD0-'width:4.0+ACUAOw-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-2.2.+ADw-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-u+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-Validity of
Agreement+ADw-/span+AD4APA-/u+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-. Seller has the authority to
execute and deliver this Agreement and the other agreements,
documents and instruments entered into or to be entered into by
Seller in connection with this Agreement (this Agreement, together
with such other agreements, documents and instruments required to
be entered into by Seller by this Agreement being herein referred
to collectively as the +ADw-b+AD4gHA-Seller+IBk-s
Agreements+IB0APA-/b+AD4-), to perform its obligations hereunder
and thereunder and to consummate the transactions contemplated
hereby and thereby without the necessity of any act or Consent of
any other Person. The Seller+IBk-s Agreements constitute, or will,
when executed and delivered, constitute the valid and legally
biding obligations of Seller and the Shareholders, enforceable
against the Seller and/or the Shareholders in accordance with their
terms. +ADw-/span+AD4APA-/p+AD4- +ADw-/td+AD4- +ADw-/tr+AD4-
+ADw-/table+AD4- +ADw-p
style+AD0-'margin:0in+ADs-margin-bottom:.0001pt'+AD4APA-span
style+AD0-'font-size:7.5pt'+AD4AJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-table class+AD0-MsoNormalTable border+AD0-0 cellspacing+AD0-0
cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-border-collapse:collapse+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0AIg-4+ACUAIg-
style+AD0-'width:4.0+ACUAOw-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:7.5pt'+AD4AJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td width+AD0AIg-4+ACUAIg- valign+AD0-top
style+AD0-'width:4.0+ACUAOw-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-2.3.+ADw-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-p+AD4APA-u+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-Conflicts and
Defaults+ADw-/span+AD4APA-/u+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-. Except as set forth on
+ADw-u+AD4-Schedule 2.3+ADw-/u+AD4-, neither the execution and
delivery of Seller+IBk-s Agreements by Seller, nor the performance
by Seller of the transactions contemplated hereby will (i) violate
or conflict with any of the terms of the Articles of Incorporation
or Bylaws of Seller or any provision thereof+ADs- (ii) violate or
constitute an occurrence of default under any provision of, or
conflict with, or result in acceleration of default under, or give
rise to a right by any party to terminate its obligations under,
any contract, sales commitment, license, permit, purchase order,
security agreement, mortgage, conveyance to secure debt, note,
deed, loan, Lien, lease, agreement, instrument, order, judgment,
decree or other arrangement by which any of the Assets are
affected+ADs- (iii) result in the creation or imposition
+ADw-/span+AD4APA-/p+AD4- +ADw-/td+AD4- +ADw-/tr+AD4-
+ADw-/table+AD4- +ADw-p
style+AD0-'margin:0in+ADs-margin-bottom:.0001pt'+AD4APA-span
style+AD0-'font-size:7.5pt'+AD4AJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-p align+AD0-center
style+AD0-'margin:0in+ADs-margin-bottom:.0001pt+ADs-text-align:center'+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-3 +ADw-/span+AD4APA-/p+AD4-
+ADw-div class+AD0-MsoNormal align+AD0-center
style+AD0-'text-align:center'+AD4- +ADw-hr size+AD0-3
width+AD0AIg-100+ACUAIg- noshade color+AD0AIgAj-999999+ACI-
align+AD0-center+AD4- +ADw-/div+AD4- +ADw-table
class+AD0-MsoNormalTable border+AD0-0 cellspacing+AD0-0
cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-border-collapse:collapse+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0AIg-8+ACUAIg-
style+AD0-'width:8.0+ACUAOw-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:7.5pt'+AD4AJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-p+AD4APA-span style+AD0-'font-size:10.0pt'+AD4-of
any Liens in favor of any third Person upon any of the Assets+ADs-
or (iv) result in the violation or breach of or conflict with any
Law applicable to Seller or any of the Assets, except such
violations or conflicts as do not have a Material Adverse Affect.
Seller is not in violation of its Articles of Incorporation or
Bylaws and, to Seller+IBk-s knowledge, except as set forth on
+ADw-u+AD4-Schedule 2.3+ADw-/u+AD4-, Seller is not in violation of
or default under any provision of any contract, Permit, order,
judgment, decree to which Seller is a party or is bound or by which
any of the Assets are affected which would have a Material Adverse
Effect, and to Seller+IBk-s and Shareholders+IBk- knowledge there
exists no condition or event which, after notice or lapse of time
or both, would result in any such violation or default.
+ADw-/span+AD4APA-/p+AD4- +ADw-/td+AD4- +ADw-/tr+AD4-
+ADw-/table+AD4- +ADw-p
style+AD0-'margin:0in+ADs-margin-bottom:.0001pt'+AD4APA-span
style+AD0-'font-size:7.5pt'+AD4AJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-table class+AD0-MsoNormalTable border+AD0-0 cellspacing+AD0-0
cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-border-collapse:collapse+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0AIg-4+ACUAIg-
style+AD0-'width:4.0+ACUAOw-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:7.5pt'+AD4AJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td width+AD0AIg-4+ACUAIg- valign+AD0-top
style+AD0-'width:4.0+ACUAOw-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-2.4.+ADw-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-u+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-Ownership of Assets and
Leases+ADs- Condition+ADw-/span+AD4APA-/u+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-. At the Closing Seller will have
good and marketable title to or a valid and enforceable leasehold
interest in, as the case may be, the Assets, free and clear of any
Liens, except for Liens expressly set forth in the Contracts
(+ADw-b+AD4gHA-Permitted Liens+IB0APA-/b+AD4-). Except in
connection with this Agreement, no person has any right to acquire
the Assets or any portion thereof. Since the Balance Sheet Date,
none of the Assets have been materially and adversely affected in
any way as a result of any casualty, whether or not covered by
insurance. +ADw-/span+AD4APA-/p+AD4- +ADw-/td+AD4- +ADw-/tr+AD4-
+ADw-/table+AD4- +ADw-p
style+AD0-'margin:0in+ADs-margin-bottom:.0001pt'+AD4APA-span
style+AD0-'font-size:7.5pt'+AD4AJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-table class+AD0-MsoNormalTable border+AD0-0 cellspacing+AD0-0
cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-border-collapse:collapse+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0AIg-4+ACUAIg-
style+AD0-'width:4.0+ACUAOw-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:7.5pt'+AD4AJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td width+AD0AIg-4+ACUAIg- valign+AD0-top
style+AD0-'width:4.0+ACUAOw-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-2.5.+ADw-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-u+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-Real
Property+ADw-/span+AD4APA-/u+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-. +ADw-u+AD4-Schedule
2.5+ADw-/u+AD4- constitutes a complete and correct list of all Real
Property that was leased or used in the Business by Seller.
+ADw-/span+AD4APA-/p+AD4- +ADw-/td+AD4- +ADw-/tr+AD4-
+ADw-/table+AD4- +ADw-p
style+AD0-'margin:0in+ADs-margin-bottom:.0001pt'+AD4APA-span
style+AD0-'font-size:7.5pt'+AD4AJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-table class+AD0-MsoNormalTable border+AD0-0 cellspacing+AD0-0
cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-border-collapse:collapse+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0AIg-4+ACUAIg-
style+AD0-'width:4.0+ACUAOw-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:7.5pt'+AD4AJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td width+AD0AIg-4+ACUAIg- valign+AD0-top
style+AD0-'width:4.0+ACUAOw-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-2.6.+ADw-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-u+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-Licenses and
Permits+ADw-/span+AD4APA-/u+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-. To Seller+IBk-s and
Shareholders+IBk- knowledge, +ADw-u+AD4-Schedule 2.6+ADw-/u+AD4-
sets forth a correct and complete list of all Permits required for
the conduct of the Business immediately prior to the Closing under
any applicable Law. To Seller+IBk-s knowledge, Seller is in
compliance with all of the material terms and conditions of the
Permits. +ADw-/span+AD4APA-/p+AD4- +ADw-/td+AD4- +ADw-/tr+AD4-
+ADw-/table+AD4- +ADw-p
style+AD0-'margin:0in+ADs-margin-bottom:.0001pt'+AD4APA-span
style+AD0-'font-size:7.5pt'+AD4AJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-table class+AD0-MsoNormalTable border+AD0-0 cellspacing+AD0-0
cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-border-collapse:collapse+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0AIg-4+ACUAIg-
style+AD0-'width:4.0+ACUAOw-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:7.5pt'+AD4AJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td width+AD0AIg-4+ACUAIg- valign+AD0-top
style+AD0-'width:4.0+ACUAOw-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-2.7.+ADw-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-u+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-Nondisclosure and Non-competition
Agreements+ADw-/span+AD4APA-/u+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-. Except as set forth on
+ADw-u+AD4-Schedule 2.7+ADw-/u+AD4-, Seller is not a party to or
bound by any nondisclosure, know-how or other similar technology
agreement relating to the Business, nor is Seller a party to any
non-competition agreement or covenant, or any similar agreement
relating to the Business. +ADw-/span+AD4APA-/p+AD4- +ADw-/td+AD4-
+ADw-/tr+AD4- +ADw-/table+AD4- +ADw-p
style+AD0-'margin:0in+ADs-margin-bottom:.0001pt'+AD4APA-span
style+AD0-'font-size:7.5pt'+AD4AJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-table class+AD0-MsoNormalTable border+AD0-0 cellspacing+AD0-0
cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-border-collapse:collapse+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0AIg-4+ACUAIg-
style+AD0-'width:4.0+ACUAOw-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:7.5pt'+AD4AJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td width+AD0AIg-4+ACUAIg- valign+AD0-top
style+AD0-'width:4.0+ACUAOw-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-2.8.+ADw-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-u+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-Labor
Relations+ADw-/span+AD4APA-/u+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-. Seller is not a party to any
collective bargaining or union contract and to Seller+IBk-s
knowledge there is no current union organization effort with
respect to Seller+IBk-s employees. During the most recent two-year
period, Seller has not received any notice of, and there have not
been, any strikes, slowdowns, work stoppages, lockouts or threats
thereof, by or with respect to any of Seller+IBk-s employees.
+ADw-/span+AD4APA-/p+AD4- +ADw-/td+AD4- +ADw-/tr+AD4-
+ADw-/table+AD4- +ADw-p
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style+AD0-'text-align:center'+AD4- +ADw-hr size+AD0-3
width+AD0AIg-100+ACUAIg- noshade color+AD0AIgAj-999999+ACI-
align+AD0-center+AD4- +ADw-/div+AD4- +ADw-table
class+AD0-MsoNormalTable border+AD0-0 cellspacing+AD0-0
cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
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0in'+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-u+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-Employees and Employee
Plans+ADw-/span+AD4APA-/u+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-. +ADw-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-/tr+AD4- +ADw-/table+AD4- +ADw-p
style+AD0-'margin:0in+ADs-margin-bottom:.0001pt'+AD4APA-span
style+AD0-'font-size:7.5pt'+AD4AJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-table class+AD0-MsoNormalTable border+AD0-0 cellspacing+AD0-0
cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-border-collapse:collapse+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0AIg-8+ACUAIg-
style+AD0-'width:8.0+ACUAOw-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:7.5pt'+AD4AJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td width+AD0AIg-5+ACUAIg- valign+AD0-top
style+AD0-'width:5.0+ACUAOw-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-2.9.1.+ADw-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-u+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-Schedule
2.9.1+ADw-/span+AD4APA-/u+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4- lists (i) all employees of Seller
and their respective starting dates, current titles, current rates
of pay and benefits and (ii) all Employee Plans.
+ADw-/span+AD4APA-/p+AD4- +ADw-/td+AD4- +ADw-/tr+AD4-
+ADw-/table+AD4- +ADw-p
style+AD0-'margin:0in+ADs-margin-bottom:.0001pt'+AD4APA-span
style+AD0-'font-size:7.5pt'+AD4AJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-table class+AD0-MsoNormalTable border+AD0-0 cellspacing+AD0-0
cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-border-collapse:collapse+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0AIg-8+ACUAIg-
style+AD0-'width:8.0+ACUAOw-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:7.5pt'+AD4AJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td width+AD0AIg-5+ACUAIg- valign+AD0-top
style+AD0-'width:5.0+ACUAOw-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-2.9.2.+ADw-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-Neither Seller nor the
Shareholders have taken any action directly or indirectly to
obligate Seller to adopt any additional Employee Plans. True,
correct and complete copies of all written Employee Plans and
related documents, including amendments thereto, any related trust
agreements, any documents setting out Seller+IBk-s employee
policies and procedures, any insurance contracts under which
benefits are provided, as currently in effect, and descriptions of
any such plan that is not written, have been supplied to Buyer.
+ADw-/span+AD4APA-/p+AD4- +ADw-/td+AD4- +ADw-/tr+AD4-
+ADw-/table+AD4- +ADw-p
style+AD0-'margin:0in+ADs-margin-bottom:.0001pt'+AD4APA-span
style+AD0-'font-size:7.5pt'+AD4AJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-table class+AD0-MsoNormalTable border+AD0-0 cellspacing+AD0-0
cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-border-collapse:collapse+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0AIg-8+ACUAIg-
style+AD0-'width:8.0+ACUAOw-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:7.5pt'+AD4AJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td width+AD0AIg-5+ACUAIg- valign+AD0-top
style+AD0-'width:5.0+ACUAOw-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-2.9.3.+ADw-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-Seller has fulfilled its
obligations, to the extent applicable, under the minimum funding
requirements of Section 302 of ERISA and Section 412 of the Code,
with respect to each +IBw-employee plan+IB0- (as defined in Section
3(2) of ERISA) set forth in +ADw-u+AD4-Schedule 2.9.1+ADw-/u+AD4-.
To Seller+IBk-s knowledge, each Employee Plan is in compliance with
and has been administered in all respects consistent with, the
presently applicable provisions of ERISA, the Code and other
applicable Laws. Seller has made all payments to all Employee Plans
as required by the terms of each such plan in accordance, if
applicable, with the actuarial and funding assumptions in effect as
of the most recent actuarial valuations of such plans. Seller has
funded or will fund each Employee Plan attributable to it in
accordance with the terms thereof through Closing, including
payment of applicable premiums on any insurance contract funding an
Employee Plan for coverage provided through Closing. To the extent
that any annual contribution for the current year is not yet
required for any Employee Plan as of the Closing Date, Seller will
make a pro rata contribution to such plan for the period ended at
the Closing Date or said contribution will be accrued on the
closing balance sheet. +ADw-/span+AD4APA-/p+AD4- +ADw-/td+AD4-
+ADw-/tr+AD4- +ADw-/table+AD4- +ADw-p
style+AD0-'margin:0in+ADs-margin-bottom:.0001pt'+AD4APA-span
style+AD0-'font-size:7.5pt'+AD4AJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-table class+AD0-MsoNormalTable border+AD0-0 cellspacing+AD0-0
cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-border-collapse:collapse+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0AIg-8+ACUAIg-
style+AD0-'width:8.0+ACUAOw-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:7.5pt'+AD4AJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td width+AD0AIg-5+ACUAIg- valign+AD0-top
style+AD0-'width:5.0+ACUAOw-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-2.9.4.+ADw-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-To Seller+IBk-s knowledge, no
+IBw-prohibited transaction+IB0-, as defined in Section 406 of
ERISA and Section 4975 of the Code, has occurred in respect of any
such Employee Plan, and no civil or criminal action brought
pursuant to Part 5 of Title I of ERISA is pending or to
Seller+IBk-s knowledge threatened in writing or orally against any
fiduciary of any such plan. +ADw-/span+AD4APA-/p+AD4- +ADw-/td+AD4-
+ADw-/tr+AD4- +ADw-/table+AD4- +ADw-p
style+AD0-'margin:0in+ADs-margin-bottom:.0001pt'+AD4APA-span
style+AD0-'font-size:7.5pt'+AD4AJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-table class+AD0-MsoNormalTable border+AD0-0 cellspacing+AD0-0
cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-border-collapse:collapse+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0AIg-4+ACUAIg-
style+AD0-'width:4.0+ACUAOw-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:7.5pt'+AD4AJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td width+AD0AIg-4+ACUAIg- valign+AD0-top
style+AD0-'width:4.0+ACUAOw-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-2.10.+ACY-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-u+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-Litigation+ADw-/span+AD4APA-/u+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-. +ADw-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-/tr+AD4- +ADw-/table+AD4- +ADw-p
style+AD0-'margin:0in+ADs-margin-bottom:.0001pt'+AD4APA-span
style+AD0-'font-size:7.5pt'+AD4AJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-table class+AD0-MsoNormalTable border+AD0-0 cellspacing+AD0-0
cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-border-collapse:collapse+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0AIg-8+ACUAIg-
style+AD0-'width:8.0+ACUAOw-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:7.5pt'+AD4AJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td width+AD0AIg-5+ACUAIg- valign+AD0-top
style+AD0-'width:5.0+ACUAOw-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-2.10.1.+ACY-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-p+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-Except as set forth on
+ADw-u+AD4-Schedule 2.10.1+ADw-/u+AD4-, no litigation, action,
suit, judgment, investigation, claim or proceeding is pending or to
Seller+IBk-s knowledge threatened against Seller or the Assets,
either at Law or in equity, before any Governmental Authority or
any arbitration panel. To +ADw-/span+AD4APA-/p+AD4- +ADw-/td+AD4-
+ADw-/tr+AD4- +ADw-/table+AD4- +ADw-p
style+AD0-'margin:0in+ADs-margin-bottom:.0001pt'+AD4APA-span
style+AD0-'font-size:7.5pt'+AD4AJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-p align+AD0-center
style+AD0-'margin:0in+ADs-margin-bottom:.0001pt+ADs-text-align:center'+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-5 +ADw-/span+AD4APA-/p+AD4-
+ADw-div class+AD0-MsoNormal align+AD0-center
style+AD0-'text-align:center'+AD4- +ADw-hr size+AD0-3
width+AD0AIg-100+ACUAIg- noshade color+AD0AIgAj-999999+ACI-
align+AD0-center+AD4- +ADw-/div+AD4- +ADw-table
class+AD0-MsoNormalTable border+AD0-0 cellspacing+AD0-0
cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-border-collapse:collapse+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0AIg-13+ACUAIg-
style+AD0-'width:13.0+ACUAOw-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4-+ADw-span
style+AD0-'font-size:7.5pt'+AD4AJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-p+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-Seller+IBk-s knowledge, there are
no facts or circumstances or other events which have occurred that
reasonably can be expected to give rise to any such litigation.
+ADw-/span+AD4APA-/p+AD4- +ADw-/td+AD4- +ADw-/tr+AD4-
+ADw-/table+AD4- +ADw-p
style+AD0-'margin:0in+ADs-margin-bottom:.0001pt'+AD4APA-span
style+AD0-'font-size:7.5pt'+AD4AJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-table class+AD0-MsoNormalTable border+AD0-0 cellspacing+AD0-0
cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-border-collapse:collapse+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0AIg-8+ACUAIg-
style+AD0-'width:8.0+ACUAOw-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:7.5pt'+AD4AJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td width+AD0AIg-5+ACUAIg- valign+AD0-top
style+AD0-'width:5.0+ACUAOw-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-2.10.2.+ACY-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-There are no obligations or
restrictions imposed on Seller, Seller+IBk-s conduct of the
Business or the Assets as a result of any litigation involving
Seller or the Assets. +ADw-/span+AD4APA-/p+AD4- +ADw-/td+AD4-
+ADw-/tr+AD4- +ADw-/table+AD4- +ADw-p
style+AD0-'margin:0in+ADs-margin-bottom:.0001pt'+AD4APA-span
style+AD0-'font-size:7.5pt'+AD4AJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-table class+AD0-MsoNormalTable border+AD0-0 cellspacing+AD0-0
cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-border-collapse:collapse+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0AIg-4+ACUAIg-
style+AD0-'width:4.0+ACUAOw-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:7.5pt'+AD4AJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td width+AD0AIg-4+ACUAIg- valign+AD0-top
style+AD0-'width:4.0+ACUAOw-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-2.11.+ACY-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-u+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-Tax+ADw-/span+AD4-+ADw-/u+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-. +ADw-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-/tr+AD4- +ADw-/table+AD4- +ADw-p
style+AD0-'margin:0in+ADs-margin-bottom:.0001pt'+AD4APA-span
style+AD0-'font-size:7.5pt'+AD4AJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-table class+AD0-MsoNormalTable border+AD0-0 cellspacing+AD0-0
cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-border-collapse:collapse+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0AIg-8+ACUAIg-
style+AD0-'width:8.0+ACUAOw-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:7.5pt'+AD4AJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td width+AD0AIg-5+ACUAIg- valign+AD0-top
style+AD0-'width:5.0+ACUAOw-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-2.11.1.+ACY-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-Except as set forth on
+ADw-u+AD4-Schedule 2.11.1+ADw-/u+AD4-, Seller has, as of the date
hereof, correctly and properly prepared, and will prior to Closing
have duly and timely filed, all Tax Returns required to be filed by
it prior to such dates and has timely paid, or will prior to
Closing timely pay, all Taxes shown as due on such returns and
reports, including all withholding or other payroll related taxes
shown on such returns and reports. No assessments or notices of
deficiency or other communications have been received by Seller
with respect to any such Tax Return which has not been paid in
full, completely discharged or fully reserved in the Seller
Financial Statements. There are no agreements between Seller and
any Governmental Authority, including the Internal Revenue Service,
waiving or extending any statute of limitations for assessment or
collection with respect to any Tax Return which Seller has filed.
+ADw-/span+AD4APA-/p+AD4- +ADw-/td+AD4- +ADw-/tr+AD4-
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style+AD0-'font-size:10.0pt'+AD4-2.11.2.+ACY-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
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style+AD0-'font-size:10.0pt'+AD4-Except as set forth on
+ADw-u+AD4-Schedule 2.11.2+ADw-/u+AD4-, Seller (i) has timely
withheld proper and correct amounts in compliance with the Tax
withholding provisions of all applicable Laws for all compensation
paid to Seller+IBk-s officers and employees, (ii) has correctly and
properly prepared and duly and timely filed all returns and reports
relating to those amounts withheld from its officers and employees
and to its employer liability for employment Taxes under the Code
and applicable state and local Laws and (iii) has duly and timely
paid and remitted to the appropriate Governmental Authorities the
amounts withheld from its officers and employees and any additional
amounts that represent its employer liability under applicable Law
for employment Taxes, except where the failure to take any of the
above actions could not reasonably be expected to have a Material
Adverse Effect. +ADw-/span+AD4APA-/p+AD4- +ADw-/td+AD4-
+ADw-/tr+AD4- +ADw-/table+AD4- +ADw-p
style+AD0-'margin:0in+ADs-margin-bottom:.0001pt'+AD4APA-span
style+AD0-'font-size:7.5pt'+AD4AJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
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+ADw-td width+AD0AIg-8+ACUAIg-
style+AD0-'width:8.0+ACUAOw-padding:0in 0in 0in 0in'+AD4- +ADw-p
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style+AD0-'font-size:7.5pt'+AD4AJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td width+AD0AIg-5+ACUAIg- valign+AD0-top
style+AD0-'width:5.0+ACUAOw-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-2.11.3.+ACY-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
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style+AD0-'font-size:10.0pt'+AD4-No issue has been raised by the
Internal Revenue Service or any state or local Governmental
Authority in connection with any audit of Tax Returns or reports
which Seller has filed that will have, or can be expected to have,
a Material Adverse Effect. +ADw-/span+AD4APA-/p+AD4- +ADw-/td+AD4-
+ADw-/tr+AD4- +ADw-/table+AD4- +ADw-p
style+AD0-'margin:0in+ADs-margin-bottom:.0001pt'+AD4APA-span
style+AD0-'font-size:7.5pt'+AD4AJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-table class+AD0-MsoNormalTable border+AD0-0 cellspacing+AD0-0
cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-border-collapse:collapse+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0AIg-8+ACUAIg-
style+AD0-'width:8.0+ACUAOw-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:7.5pt'+AD4AJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
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style+AD0-'width:5.0+ACUAOw-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-2.11.4.+ACY-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-The Seller Financial Statements
include for all periods up to and including the Closing Date,
adequate provision for all unpaid applicable Taxes hereof relating
to Seller. +ADw-/span+AD4APA-/p+AD4- +ADw-/td+AD4- +ADw-/tr+AD4-
+ADw-/table+AD4- +ADw-p
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style+AD0-'font-size:7.5pt'+AD4AJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
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style+AD0-'font-size:10.0pt'+AD4-6 +ADw-/span+AD4APA-/p+AD4-
+ADw-div class+AD0-MsoNormal align+AD0-center
style+AD0-'text-align:center'+AD4- +ADw-hr size+AD0-3
width+AD0AIg-100+ACUAIg- noshade color+AD0AIgAj-999999+ACI-
align+AD0-center+AD4- +ADw-/div+AD4- +ADw-table
class+AD0-MsoNormalTable border+AD0-0 cellspacing+AD0-0
cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-border-collapse:collapse+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
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style+AD0-'width:8.0+ACUAOw-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:7.5pt'+AD4AJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td width+AD0AIg-5+ACUAIg- valign+AD0-top
style+AD0-'width:5.0+ACUAOw-padding:0in 0in 0in 0in'+AD4- +ADw-p
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style+AD0-'font-size:10.0pt'+AD4-2.11.5.+ACY-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
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style+AD0-'font-size:10.0pt'+AD4-Seller is not a +IBw-United States
real property holding corporation+IB0- as defined in Section
897(c)(2) of the Code. +ADw-/span+AD4APA-/p+AD4- +ADw-/td+AD4-
+ADw-/tr+AD4- +ADw-/table+AD4- +ADw-p
style+AD0-'margin:0in+ADs-margin-bottom:.0001pt'+AD4APA-span
style+AD0-'font-size:7.5pt'+AD4AJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-table class+AD0-MsoNormalTable border+AD0-0 cellspacing+AD0-0
cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-border-collapse:collapse+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0AIg-8+ACUAIg-
style+AD0-'width:8.0+ACUAOw-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:7.5pt'+AD4AJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td width+AD0AIg-5+ACUAIg- valign+AD0-top
style+AD0-'width:5.0+ACUAOw-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-2.11.6.+ACY-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
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0in'+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-Seller is not a party to any tax
sharing agreement. +ADw-/span+AD4APA-/p+AD4- +ADw-/td+AD4-
+ADw-/tr+AD4- +ADw-/table+AD4- +ADw-p
style+AD0-'margin:0in+ADs-margin-bottom:.0001pt'+AD4APA-span
style+AD0-'font-size:7.5pt'+AD4AJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-table class+AD0-MsoNormalTable border+AD0-0 cellspacing+AD0-0
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style+AD0-'width:100.0+ACUAOw-border-collapse:collapse+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
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style+AD0-'width:4.0+ACUAOw-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:7.5pt'+AD4AJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td width+AD0AIg-4+ACUAIg- valign+AD0-top
style+AD0-'width:4.0+ACUAOw-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-2.12.+ACY-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-u+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-Compliance with
Laws+ADw-/span+AD4APA-/u+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-. Except as set forth on
+ADw-u+AD4-Schedule 2.12+ADw-/u+AD4-, to Seller+IBk-s knowledge
Seller has complied with all Laws, except where the failure of
Seller to comply could not, individually or in the aggregate,
reasonably be expected to have a Material Adverse Effect. To
Seller+IBk-s knowledge, no fact, circumstance, condition or
situation exists which, after notice or lapse of time or both,
would constitute noncompliance by Seller (except where such
noncompliance could not, individually or in the aggregate,
reasonably be expected to have a Material Adverse Effect) or give
rise to any future liability of Seller with respect to any Laws
heretofore or currently in effect. Seller is not required to make
any unusual expenditure to achieve or maintain compliance with any
Laws. Seller has not received notice of any violation of any Law,
or any potential liability under any Law, nor is Seller aware of
any such violation. Except as set forth on Schedule 2.12, to the
knowledge of Seller, there is not any present requirement of any
applicable Law which is due to be imposed on Seller or the Assets
that is reasonably likely to increase the cost of complying with
such Laws. +ADw-/span+AD4APA-/p+AD4- +ADw-/td+AD4- +ADw-/tr+AD4-
+ADw-/table+AD4- +ADw-p
style+AD0-'margin:0in+ADs-margin-bottom:.0001pt'+AD4APA-span
style+AD0-'font-size:7.5pt'+AD4AJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-table class+AD0-MsoNormalTable border+AD0-0 cellspacing+AD0-0
cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-border-collapse:collapse+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0AIg-4+ACUAIg-
style+AD0-'width:4.0+ACUAOw-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:7.5pt'+AD4AJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td width+AD0AIg-4+ACUAIg- valign+AD0-top
style+AD0-'width:4.0+ACUAOw-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-2.13.+ACY-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-u+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-Contracts+ADw-/span+AD4APA-/u+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-. +ADw-u+AD4-Schedules 2.13 (a),
(b) and (c)+ADw-/u+AD4- to this Agreement constitute a complete and
accurate list of each contract, lease, agreement, engagement or
commitment, whether oral or written, express or implied relating to
the Business, to which Seller is a party by which Seller or any of
the Assets is bound (the +ADw-b+AD4gHA-Contracts+IB0APA-/b+AD4-).
+ADw-u+AD4-Schedule 2.13(a)+ADw-/u+AD4- includes a complete and
accurate list of all carriers or providers of wireless or land
based telecommunications services from which Seller has purchased
the Products or other telecommunications time or services
+ADw-b+AD4-(+IBw-Telecom Carriers+IB0-), +ADw-/b+AD4-together with
a list of all contracts or amendments thereto that have been
entered into between such Telecom Carriers and Seller.
+ADw-u+AD4-Schedule 2.13(b)+ADw-/u+AD4- constitutes a complete and
accurate list of all persons or entities acting as resellers of
telecommunications services, and includes a complete and accurate
list of (i) all ISOs, agents or distributors who are promoting the
sale of the Products or are commissioned based on the sales of the
Products, including all undocumented relationships with agents and
distributors +ADw-b+AD4-(+IBw-Undocumented Agency
Relationships+IB0-)+ADs- +ADw-/b+AD4-and (ii) all merchants or
retailers offering the Products for sale, including those operating
POS terminals. +ADw-u+AD4-Schedule 2.13(c)+ADw-/u+AD4- is a
complete and accurate list of all other contracts entered into by
Seller or the Shareholders in connection with the Business. In each
case, Schedule 2.13 indicates the name and address of the
contracted party and identifies the type of contract concerned.
Seller has delivered or made available to Buyer complete copies of
all Contracts and all modifications or amendments thereto.
+ADw-/span+AD4APA-/p+AD4- +ADw-/td+AD4- +ADw-/tr+AD4-
+ADw-/table+AD4- +ADw-p
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style+AD0-'font-size:7.5pt'+AD4AJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
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style+AD0-'font-size:10.0pt'+AD4-7 +ADw-/span+AD4APA-/p+AD4-
+ADw-div class+AD0-MsoNormal align+AD0-center
style+AD0-'text-align:center'+AD4- +ADw-hr size+AD0-3
width+AD0AIg-100+ACUAIg- noshade color+AD0AIgAj-999999+ACI-
align+AD0-center+AD4- +ADw-/div+AD4- +ADw-table
class+AD0-MsoNormalTable border+AD0-0 cellspacing+AD0-0
cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-border-collapse:collapse+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
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style+AD0-'width:4.0+ACUAOw-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:7.5pt'+AD4AJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
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style+AD0-'width:4.0+ACUAOw-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-2.14.+ACY-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-u+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-Consents+ADw-/span+AD4APA-/u+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-. The parties acknowledge that
many of the Contracts require consent of the other contracting
party prior to an assignment or transfer thereof and that consents,
in many cases, will not be obtained. Buyer and (subject to the
terms of +ADw-u+AD4-Section 4.1+ADw-/u+AD4-) Seller will continue
to attempt to obtain consents to assignment for all of the
Contracts following the Closing. +ADw-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-/tr+AD4- +ADw-/table+AD4- +ADw-p
style+AD0-'margin:0in+ADs-margin-bottom:.0001pt'+AD4APA-span
style+AD0-'font-size:7.5pt'+AD4AJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
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style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
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style+AD0-'width:4.0+ACUAOw-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:7.5pt'+AD4AJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
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style+AD0-'width:4.0+ACUAOw-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-2.15.+ACY-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-u+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-Brokers, Finders and
Agents+ADw-/span+AD4APA-/u+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-. Seller is not directly or
indirectly obligated to anyone acting as an agent, broker, finder
or in any other similar capacity in connection with this Agreement
or Seller+IBk-s Agreements or the transactions contemplated hereby
or thereby. +ADw-/span+AD4APA-/p+AD4- +ADw-/td+AD4- +ADw-/tr+AD4-
+ADw-/table+AD4- +ADw-p
style+AD0-'margin:0in+ADs-margin-bottom:.0001pt'+AD4APA-span
style+AD0-'font-size:7.5pt'+AD4AJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-table class+AD0-MsoNormalTable border+AD0-0 cellspacing+AD0-0
cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-border-collapse:collapse+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
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style+AD0-'width:4.0+ACUAOw-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:7.5pt'+AD4AJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
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class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-2.16.+ACY-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
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2.16+ADw-/u+AD4- to this Agreement constitutes a full and complete
list of all insurance policies maintained by Seller with respect to
the Assets. All such policies are in full force and effect and, to
Seller+IBk-s knowledge, no event has occurred that would give any
insurance carrier a right to terminate any such policy. All
premiums due on such policies have been paid in full.
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style+AD0-'font-size:10.0pt'+AD4- to this Agreement contains true,
correct and complete copies of Seller+IBk-s balance sheets as of
July 31, 2003, and the related statements of earnings and retained
earnings (the +ADw-b+AD4gHA-Seller Financial
Statements+IB0APA-/b+AD4-). The Seller Financial Statements are
complete, have been prepared in accordance with Seller+IBk-s normal
practices, fully and properly reflect all transactions of the
Seller, fairly present the financial condition of Seller as of the
respective dates thereof and disclose all known liabilities of
Seller, whether absolute, contingent, accrued or otherwise,
existing as of the date thereof. +ADw-/span+AD4APA-/p+AD4-
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subject to, no liability or obligation (whether accrued, absolute,
contingent or otherwise), except for (a) the liabilities and
obligations which are disclosed or reserved against in the Seller
Financial Statements to the extent and in the amounts so disclosed
or reserved against, and (b) liabilities incurred or accrued in the
Ordinary Course since the Balance Sheet Date.
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except for the payment of available cash to the Shareholders at or
prior to Closing, there has not been (i) any Material Adverse
Change in Seller+IBk-s financial condition or the financial
condition, (ii) any sale or transfer of any assets or properties
except in the Ordinary Course with suitable replacements therefor,
or (iii) capital expenditures by Seller involving payment in the
aggregate in excess of +ACQ-5,000. +ADw-/span+AD4APA-/p+AD4-
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Financial Projections referred to in +ADw-u+AD4-Schedule
2.17.4+ADw-/u+AD4- reflect Seller+IBk-s good faith estimate of the
future financial performance of Seller. To the knowledge of Seller,
except as disclosed in the Financial Projections or
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commentary thereto furnished by Seller, there are no market or
business conditions or developments relating to the Business that
could reasonably be expected in the future to have a Material
Adverse Effect. +ADw-/span+AD4APA-/p+AD4- +ADw-/td+AD4-
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Business reflect actual transactions and have been incurred by
Seller in the Ordinary Course. +ADw-/span+AD4APA-/p+AD4-
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style+AD0-'font-size:10.0pt'+AD4-. All the Receivables will reflect
actual transactions, have arisen from bona fide transactions in the
Ordinary Course and are not subject to any material setoff or
counterclaim. +ADw-/span+AD4APA-/p+AD4- +ADw-/td+AD4- +ADw-/tr+AD4-
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constitute the only intellectual property rights used by Seller in
connection with the conduct of the Business.
+ADw-/span+AD4APA-/p+AD4- +ADw-/td+AD4- +ADw-/tr+AD4-
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style+AD0-'font-size:10.0pt'+AD4-Seller has no patents, registered
copyrights or registered trademarks, trade names or service marks
or applications therefor. +ADw-/span+AD4APA-/p+AD4- +ADw-/td+AD4-
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style+AD0-'font-size:10.0pt'+AD4-Except as set forth on
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exclusive right to use and sell, transfer and convey to Buyer the
Intellectual Property Rights free and clear of all Liens and free
from any past, present or future royalty payments, license fees,
charges or other payments, conditions or restrictions.
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style+AD0-'font-size:10.0pt'+AD4-To the best knowledge of Seller,
except as set forth in +ADw-u+AD4-Schedule 2.20.4+ADw-/u+AD4-,
there is no unresolved claim or demand by any third party asserting
a conflict with the rights of others in connection with
Seller+IBk-s use of any of the Intellectual Property Rights in
connection with the conduct of the Business, except inconsequential
claims or demands that could not, individually or in the aggregate,
reasonably be expected to have a Material Adverse Effect.
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+ADw-u+AD4-Schedule 2.20.5+ADw-/u+AD4-, to the knowledge of Seller
the conduct by Seller of the Business does not infringe upon and no
claim or allegation has been made that the conduct of the Business
infringes upon any trademark, trade name, service mark, patent,
invention, know-how, copyright, confidential business information,
trade secret, proprietary information, industrial design, drawing,
process, or formula owned or licensed by any third party.
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Suppliers+ADw-/span+AD4APA-/u+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-. +ADw-u+AD4-Schedule
2.21+ADw-/u+AD4- lists the material customers and suppliers of the
Business as of the Balance Sheet Date, and there has been no
termination or cancellation of, and no material modification or
material change in, Seller+IBk-s business relationship with any
material customer or group of customers or suppliers.
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cash to Shareholders at or prior to Closing, since the Balance
Sheet Date the Seller has conducted the Business in the Ordinary
Course (as defined herein) and has not engaged in any action that
would have violated Section 4.6 hereof had such Section applied to
the Seller during such time period. +ADw-/span+AD4APA-/p+AD4-
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style+AD0-'font-size:10.0pt'+AD4-Disclosure+ADw-/span+AD4APA-/u+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-. This Agreement and the Schedules
hereto disclose all facts material to Seller and the Assets.
Neither this Agreement nor any other certificate, financial
statement or other document delivered to Buyer in connection
therewith contains an untrue statement of a material fact or omits
to state a material fact necessary to make the statements and facts
contained therein, in light of the circumstances in which they were
or are made, not false or misleading. Any disclosure made in any
Schedule hereto shall be deemed to be made in any other Schedule
where applicable. +ADw-/span+AD4APA-/p+AD4- +ADw-/td+AD4-
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style+AD0-'margin:0in+ADs-margin-bottom:.0001pt'+AD4APA-span
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style+AD0-'font-size:10.0pt'+AD4-Accuracy+ADw-/span+AD4APA-/u+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-. The representations and
warranties of Seller set forth in this Agreement are true and
correct on the date of this Agreement and will be true and correct
as of the Closing (with the same force and effect as if such
representations and warranties were made anew at and as of the
Closing). +ADw-/span+AD4APA-/p+AD4- +ADw-/td+AD4- +ADw-/tr+AD4-
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OF BUYER +ADw-/span+AD4APA-/b+AD4APA-/p+AD4- +ADw-p
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style+AD0-'font-size:10.0pt'+AD4-Buyer hereby represents and
warrants to Seller as follows: +ADw-/span+AD4APA-/p+AD4- +ADw-p
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Authority+ADw-/span+AD4APA-/u+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-. Buyer is a corporation duly
organized, validly existing and in good standing under the laws of
the State of Delaware and has the corporate power and authority to
own, operate and lease its properties and to carry on its business
as presently being conducted. +ADw-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-/tr+AD4- +ADw-/table+AD4- +ADw-p
style+AD0-'margin:0in+ADs-margin-bottom:.0001pt'+AD4APA-span
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style+AD0-'font-size:10.0pt'+AD4-Validity of
Agreement+ADw-/span+AD4APA-/u+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-. This Agreement, together with
the other agreements, documents and instruments required to be
entered into by Buyer by this Agreement (collectively, +IBw-Buyer
Agreements+IB0-), will, when executed and delivered by Buyer,
constitute the legal, valid and binding obligations of the Buyer,
enforceable against the Buyer in accordance with their respective
terms. The Buyer has the corporate power and authority to enter
into the Buyer Agreements and to undertake and perform fully the
transactions contemplated hereby and thereby.
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style+AD0-'font-size:10.0pt'+AD4-Conflicts and
Defaults+ADw-/span+AD4APA-/u+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-. Neither the execution and
delivery of the Buyer Agreements by Buyer nor the performance by
Buyer of the transactions contemplated hereby or thereby will
violate or conflict with any of the terms of the Articles of
Incorporation or Bylaws of Buyer or any provisions thereof.
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style+AD0-'font-size:10.0pt'+AD4-Capitalization of
Buyer.+ADw-/span+AD4APA-/u+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4- The authorized capital stock of
Buyer consists of (i) sixty million (60,000,000) shares of common
stock, +ACQ-0.02 par value per +ADw-/span+AD4APA-/p+AD4-
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+ADw-b+AD4-(+IBw-Common Stock+IB0-), +ADw-/b+AD4-of which, as of
June 30, 2003, approximately 26,681,768 were outstanding, and (ii)
ten million (10,000,000) shares of preferred stock, +ACQ-1.00 par
value per share, none of which are outstanding. All of the
outstanding shares of Common Stock have been validly issued and are
fully paid, nonassessable and not subject to any preemptive rights,
and all shares of Common Stock issued pursuant to this Agreement
will be, when issued, duly authorized and validly issued, fully
paid, nonassessable and not subject to any preemptive rights. All
of the outstanding shares of Common Stock and options and warrants
to purchase shares of Common Stock (collectively, +IBw-Buyer
Securities+IB0-) were issued in compliance with the Securities Act
and applicable state securities laws. There are no stockholder
agreements, voting trusts or other arrangements or understandings
to which Buyer is a party or by which it or the Buyer+IBk-s Board
of Directors is bound. Approximately 925,000 shares of Buyer are
issued and held by Buyer in its treasury as of the date hereof.
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style+AD0-'font-size:10.0pt'+AD4-SEC Reports+ADs- Financial
Statements+ADw-/span+AD4APA-/u+AD4APA-span
style+AD0-'font-size:10.0pt'+
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