Exhibit 10.4
 
SETTLEMENT AGREEMENT entered into between HENRY S. SNOW and SANDRA L. SNOW
("Plaintiffs"); vFINANCE, INC. n/k/a vFINANCE.COM, INC. ("Defendant"); and
MICHAEL GOLDEN and BEN LICHTENBERG ("Co-Defendants") relating to the settlement
of all claims, cross-claims and counterclaims between the aforesaid parties in
the action bearing Case Number 50 2002 CA-009820XXCD AI which is pending in the
Circuit Court of the 15th Judicial Circuit of Florida, in and for Palm Beach
County (the "Action") involving: delivery by Defendant to Plaintiffs of
certificates representing one million (1,000,000) shares of common stock of
Defendant free and clear of all liens, claims and encumbrances except as set
forth herein (the "Shares") and payment to Plaintiffs of the sum of $10,000.00
within 30 days by the Co-Defendants.

PLAINTIFFS, DEFENDANT AND CO-DEFENDANTS HEREBY AGREE AS FOLLOWS:

1. Defendant shall deliver to Plaintiffs, and Plaintiffs shall accept
from Defendant, a certificate representing the Shares, free and clear of all
liens, claims and encumbrances except that the Shares shall be restricted
securities of the Defendant and may only be sold as allowed and as limited by
Rule 144 under the Securities Act of 1933, as amended ("Rule 144"). The
certificate representing the Shares, together with the additional obligations of
Defendant set forth herein, are in full and complete payment and settlement of
any and all claims by Plaintiffs against Defendant and any and all counterclaims
by Defendant against Plaintiffs. The certificates shall be delivered in not
larger than 100,000 share certificates beating a restricted legend and. shall be
delivered not later than thirty days after the date hereof.

1(a). Defendant guarantees to Plaintiffs that any public sale of any of the
Securities after one year from the date hereof, shall result in a sale price of
not less than $.175 per share. Defendant shall pay in cash to Plaintiffs, the
difference (the "Shortfall"), if any between $.175 per share and the actual net
sale price of any of the Shares, to any bona fide third party for value.
Plaintiffs shall give notice to Defendant of arty proposed sale for less than
$.175 per share and Defendant shall have 48 hours from receipt of such notice,
in writing, to purchase the Shares which are the subject of that notice for
$.175 per Share. If Defendant fails to exercise such option then, within ten
(10) days after receipt of written notice of the sale, Defendant shall pay the
Shortfall to the Plaintiffs. Plaintiffs understand that under Rule 144 they may
not sell the Shares for one year from the date hereof subject to the
requirements contained in. Rule 144 and, in addition, Plaintiffs agree not to
sell more than 100,000 Shares in any calendar month. Defendant agrees to take
all steps reasonably necessary to permit Plaintiffs to sell the Shares under
Rule 144 including the issuance and delivery to the transfer agent of an opinion
of counsel authorizing the removal of the restrictive legend on the Share
certificate.

1(b). In the event Defendant defaults in any of its obligations hereunder,
including, without limitation, delivery of the Shares and payment of any
Shortfall, then, within 10 days after written notice and an opportunity to cure
said default. Plaintiffs shall have the right to the immediate entry of a
judgment in the sum of $220,000 less any sums theretofore received by Plaintiffs
for sale of any of the Shares. This liquidated damage clause is not intended to
he a penalty but is a reasonable estimation by Plaintiffs and Defendant of
Plaintiffs damages in the event of a breach of this agreement by Defendant.

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2. Upon delivery of the certificates for the Shares, (a) Plaintiffs and
Defendant hereby remise, release and forever discharge each other (herein
defined as them and. their heirs, administrators, predecessors, successors,
trustees, beneficiaries, assigns, parents, subsidiaries, affiliates, officers,
directors, members, shareholders, partners, employees, agents and insurers)
from. and against any and all claims and demands which they have or may have
against each other whether known or unknown, liquidated or unliquidated,
contingent or fixed; from the beginning of time to the present except for any
claims hereunder; and (b) Plaintiffs and Defendant shall execute and file an
agreed upon order dismissing the Action with .prejudice except that the Court
shall retain jurisdiction to enforce the terms of this Settlement Agreement.

3. Co-Defendants, GOLDEN and LICHTENBERG, shall pay to the Plaintiffs the sum of
$10,000.00 within thirty (30) days or on or before October 28, 2006 in
settlement of all claims filed in this case. Defendant, vFINANCE and
Co-Defendants, GOLDEN and LICHTENBERG, will exchange Mutual General Releases.

4. The terms of this Settlement Agreement, the facts and circumstances
underlying and giving rise to the Action and any matters discussed with the
Mediator shall be confidential and may not be disclosed to the media or to
anyone (except for the spouse, accountants, attorneys, investment advisors,
financial planners, officer and directors of the parties hereto and their
affiliates who, by accepting any such confidential information, shall be
presumed to have agreed to the provisions of this paragraph) unless such
disclosure is required by any law enforcement agency or any regulatory or
self-regulatory organization asserting jurisdiction, or is required pursuant to
any lawfully issued subpoena or other :legal process. To the extent that a party
hereto discloses any information related to the settlement to the persons listed
above in the "except for", that party will inform such persons of the
requirement to keep such information confidential. The parties agree not to
disparage each other or any of the parties being released pursuant to this
agreement In the event any party brings an action for breach of this agreement,
the prevailing party shall be entitled to the reasonable fees and expenses of
its counsel and such other remedies as may be available at law or in equity.

5. The parties hereto shall execute such additional documents as are typical for
settlements of this type and as may reasonably be requested by any other party
hereto in order to implement or further assure the terms hereof including copies
hereof. Any dispute as to the appropriateness of any such document or any
provision thereof or hereof shall be resolved by Mark A. Buckstein ("Mediator")
in his sole and absolute discretion which shall be binding upon the parties.

6. Except as otherwise provided herein, the parties hereto each shall bear the
fees and costs of their respective attorneys and experts and each has executed
this agreement freely and voluntarily after consulting with their own counsel
and, if appropriate, experts, and not based upon any advice or recommendations
by the Mediator. The execution of this settlement agreement does not constitute
any admission or acknowledgment of liability or the truth of any allegations
contained in any pleadings in the Action. The: parties are settling this matter
to avoid any further fees and expenses and to bring closure to this dispute. The
fees of the Mediator shall be borne one-third by Plaintiffs, one-third by
Defendant and one-third by Co-Defendants.

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7.  This Settlement Agreement may be executed in counterparts and signed via
facsimile and distributed among counsel for the parties and any copy of any
signature of any party to this Settlement Agreement shall be deemed to be an
original and shall have the same legal force and effect of any original
signature.

8.  The parties shall submit a Stipulation to the Court incorporating the terms
of this Settlement Agreement by reference and an Order dismissing all claims,
counter-claims and cross-claims with prejudice, providing that all claims,
demands, debts and causes of action filed in or arising from this lawsuit have
been released and reserving jurisdiction of the Court to enforce the terms and
conditions of this Settlement Agreement.

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IN WITNESS WHEREOF, the parties hereto have executed. this Settlement Agreement
on this 16th day of October, 2006.

vFinance, Inc. n/k/a vFinance.com, Inc. (Defendant)
 

          By : /s/ Leonard J. Sokolow       Title:

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Chief Executive Officer and    

 

        /s/ Henry S. Snow (Plaintiff)    

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Henry S. Snow    

 

        /s/ Sandra L. Snow (Plaintiff)    

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Sandra L. Snow
   

 

        /s/ Michael Golden (Co-Defendant)    

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Michael Golden    

 

        /s/ Ben Lichtenberg (Co-Defendant)    

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Ben Lichtenberg

 

        /s/ Simeon Brier        

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Attorney for vFinance Inc.

 

        /s/ Joel D. Kenwood      

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Attorney for Defendant
 

        /s/ Neal Baritz       

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Attorney for Co-Defendant

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