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Re: Indemnity Agreement ("AGREEMENT") respecting Section 1.3(b) of the Agreement

Indemnification Agreement

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INNUITY, INC. /UT/

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Title: Re: Indemnity Agreement ("AGREEMENT") respecting Section 1.3(b) of the Agreement
Governing Law: Washington     Date: 11/10/2005

Re: Indemnity Agreement (
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                                                                   Exhibit 99.18

 

                                                                November 9, 2005

 

Vista.com, Inc.

8440 154th Ave. NE

Redmond, WA 98052

 

Attention: John Wall, Chief Executive Officer

 

Source Energy Corporation

3040 Granite Meadow Lane

Sandy, Utah 84092

 

Re: Indemnity Agreement ("AGREEMENT") respecting Section 1.3(b) of the Agreement

    and Plan of Merger ("MERGER AGREEMENT"), among Vista.com, Inc., a Washington

    corporation ("VISTA"), Vista Acquisition Corp., a Washington corporation

    ("MERGER SUBSIDIARY"), and Source Energy Corporation, a Utah corporation

    ("SOURCE"); and payment of the aggregate sum of $300,000 and issuance of

    500,000 shares of Common Stock of Vista ("VISTA COMMON STOCK") to Jenson

    Services, Inc., a Utah corporation ("JENSON SERVICES") and/or Craig

    Carpenter ("CARPENTER").

 

Gentlemen:

 

     In partial consideration of the Closing (as defined in the Merger

Agreement), in connection with which (a) Jenson Services will be issued 350,000

shares of Vista common stock (70,000 shares of which Jenson Services has

directed be paid to Leonard W. Burningham), plus the additional sum of $150,000

($25,000 of which has already been paid to Jenson Services, receipt of which is

hereby acknowledged); and (b) Carpenter will be issued 150,000 shares of Vista

common stock, plus the additional sum of $150,000, Jenson Services and Carpenter

hereby jointly and severally agree to pay and indemnify and hold Source and

Vista harmless from and against: (i) any and all manners of actions, causes of

action, suits, debts, liabilities, sums of money, accounts, covenants,

controversies, agreements, promises, damages, judgments, executions, costs,

expenses, rights, claims or demands whatsoever of Source or against Source

existing at the date of Closing or arising out of any action or inaction of

Source or its officers, directors, principal shareholders, employees or agents,

at law or in equity, existing on or at any time before the date of Closing or

thereafter arising, whether anticipated or unanticipated, known or unknown,

contingent or non-contingent, liquidated or non-liquidated, including without

limitation, (x) any and all attorney fees owing to Leonard W. Burningham,

Branden T. Burningham and Bradley C. Burningham, and (x) any and all accountant

fees owing to Mantyla McReynolds, but (y) excluding the $75,000 currently owed

to Carpenter; as well as (ii) any liabilities (of any nature or type whatsoever)

arising out of or in connection with breach of the covenants or representations

and warranties of Carpenter or Jenson Services contained in this Agreement

(matters described in clauses (i) and (ii), collectively the "LIABILITIES"). In

further consideration of the indemnification obligations of Jenson Services and

Carpenter (as contemplated hereunder), the above-described shares of Vista

common stock to be granted to Jenson Services, Carpenter and Leonard W.

Burningham will be entitled to certain registration

 

                                                                EXECUTION VERSION

 

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Page 2

 

 

rights; provided, that Jenson Services and Messrs. Carpenter and Burningham each

become a party to that certain Registration Rights Agreement dated June 6, 2005,

by and among Vista and the parties listed therein (the "REGISTRATION RIGHTS

AGREEMENT"), by executing and delivering to Vista a counterpart signature page

thereto, and thereupon such shares of Vista common stock so issued shall be

deemed "REGISTRABLE SECURITIES" thereunder in accordance with Section 2.2(b) of

the Registration Rights Agreement.

 

     Each of Jenson Services and Carpenter hereby represents and warrants to

Vista that (i) the information contained in the reports and/or registration

statements of Source that have been filed with the Securities and Exchange

Commission (the "SEC REPORTS") as of the date hereof, and (ii) Source's

representations and warranties set forth in Article 3 of the Merger Agreement,

are true, correct and complete in all material respects and do not contain any

misstatement of a material fact or omit to s


 
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