Exhibit 10.1
DOMAIN
NAME ACQUISITION AGREEMENT
Subject to the terms
and conditions attached hereto and expressly made a part hereof
(the “Terms and Conditions”), and such additional terms
and conditions set forth below, Portfolio Brains LLC, a California
limited liability company (“Purchaser”), hereby agrees,
either directly or through an affiliate, to acquire from the
Seller(s) set forth below all right, title and interest in and
to the domain names set forth on Exhibit A hereto, for
the Purchase Price set forth below.
|
Seller(s):
|
|
Tucows.com
Co.
|
|
|
|
|
|
Purchase
Price:
|
|
US $983,713.00 (Nine
Hundred and Eighty Three Thousand Seven Hundred and Thirteen
Dollars)
|
|
|
|
|
|
Holdback:
|
|
US $98,371.00 (Ninety
Eight Thousand Three Hundred And Seventy One Dollars)
|
|
|
|
|
|
Effective
Date:
|
|
May 1,
2008
|
IN WITNESS WHEREOF,
intending to be legally bound, the parties have executed and
delivered this Domain Name Acquisition Agreement as of the
Effective Date.
|
Portfolio Brains
LLC
|
|
Tucows.com Co.
|
|
|
|
|
|
|
|
|
|
By:
|
/s/ STEVE
HISEY
|
|
By:
|
/s/ BILL
SWEETMAN
|
|
|
Name:
|
Steve Hisey
|
|
|
Name:
|
Bill
Sweetman
|
|
|
Title:
|
General
Manager
|
|
|
Title:
|
General Manager,
Domain
|
|
|
|
Portfolio
|
|
Address:
|
|
Address:
|
|
|
|
|
|
Fax No.: (213)
607-0430
|
|
Fax No.: (416)
531-5584
|
DOMAIN
NAME ACQUISITION AGREEMENT
TERMS
AND CONDITIONS
These Terms and
Conditions are hereby agreed to and made a part of the Domain Name
Acquisition Agreement (the “Agreement”) to which they
are attached. Capitalized terms used but not otherwise
defined herein shall have the meaning ascribed to such terms in the
Agreement.
1.
Purchase and Sale
1.1
Assets to be Acquired. On the terms and subject to the
conditions of this Agreement, Seller shall, on the Effective Date,
sell, convey and assign to Purchaser, free and clear of all claims,
liens and interests of any kind, all of Seller’s right
(including all intellectual property rights), title and interest in
and to the domain names set forth on Exhibit A (the
“Assets”).
1.2
Liabilities. Purchaser shall, on the Effective Date, assume
all liabilities and obligations arising out of the ownership, use
and operation of the Assets after the Effective Date, except as set
forth in Section 2.5. Except as set forth in the
preceding sentence, Seller shall retain, and shall be responsible
for paying, performing and discharging when due, and Purchaser
shall not assume or have any responsibility for, all assets (other
than the Assets) and all liabilities of Seller as of the Effective
Date.
1.3
Purchase Price. In consideration for the transfer of the
Assets, at the Closing, Purchaser shall pay to Seller the Purchase
Price, less the Holdback, by wire transfer of immediately available
funds, to the account(s) designated in writing by
Seller.
1.4
Holdback. Purchaser shall retain the Holdback for one year
as security for claims pursuant to Section 4. On the one
year anniversary of the Effective Date, that portion of the
Holdback as to which no claims for indemnification have been made
pursuant Section 4 shall be tendered to Seller by wire
transfer of immediately available funds. The remaining
Holdback, if any, shall be delivered at such time (or times) as,
and to the extent that any claims shall be finally resolved in
favor of Seller by wire transfer of immediately available
funds.
1.5
Closing. Subject to satisfaction of the conditions set forth
in Section 1.6, the Closing shall place on the Effective Date,
at the offices of Purchaser, or at such other place and time as the
parties shall mutually agree.
1.6
Closing deliveries by Seller. Purchaser’s obligation
to effect the Closing and deliver the Purchase Price is expressly
conditioned upon the prior receipt by Purchaser of the following,
any of which may be waived by the Purchaser in its sole
discretion:
(a) The
Domain Name Transfer Agreement, in the form set forth on
Exhibit B hereto, duly executed by Seller.
(b) The
Power of Attorney, in the form set forth on Exhibit C
hereto, duly executed and notarized.
2.
Representations and Warranties of Each Seller . As a
material inducement to Purchaser to enter into the Agreement, each
Seller represents and warrants to Purchaser as follows:
2.1
Authorization, Etc. Seller has full power, authority and
legal capacity to execute and deliver this Agreement, to perform
its obligations hereunder and to consummate the transactions
contemplated hereby. Seller has duly executed and delivered this
Agreement. This Agreement constitutes the legal, valid and
binding obligation of Seller enforceable against Seller in
accordance with its terms.
2.2
No Conflict; Approvals. The execution, delivery and
performance of this Agreement by Seller does not and will not
(a) violate, conflict with or result in the breach of any
provision of the charter, by-laws, operating agreement, or other
constituent documents of Seller (if applicable), (b) conflict
with or violate any law or order applicable to Seller or any of its
assets, properties or businesses, (c) require any consent,
approval or authorization of any third party, or (d) conflict
with, require any consent under, or result in the creation of any
encumbrance on any of the Assets pursuant to, any note, bond,
mortgage, indenture, contract, agreement, lease,
sublease, license,
permit, franchise or other instrument or arrangement to which
Seller is a party or by which any of the Assets is bound or
affected.
2.3
Revenue Information. All information provided to Purchaser
with respect to the historical revenue and traffic generated by the
Assets (the “Seller’s Data”) was prepared from
the books and records of the Seller, fairly presents such
historical financial information and is complete and correct in all
material respects.
2.4
Registered Owner. Seller has good, valid, marketable and
transferable registrations to all Assets, in each case free and
clear of any Lien (other than as set forth in the registration
agreement(s) applying thereto). For purposes hereof, the
term “Lien” means any lien, mortgage, security
interest, charge, pledge, retention of title agreement, adverse
claim, easement, encroachment, restrictive covenant or other
encumbrance affecting title to any property of any sort. Each
registration agreement related to such Assets is in full force and
effect and all registration fees associated therewith have been
duly paid and there are currently no amounts due to the registrar
of such Assets in connection therewith.
2.5
Litigation. There are no claims, or threatened claims, that
any of the Assets violates the trademark rights of any other person
or entity, or otherwise violates any law. Seller has no
knowledge of any facts or circumstances that would be the basis for
any claim that the Assets violate the trademark rights of any other
person or entity, or otherwise violates any law. There is no
action pending or, to Seller’s knowl