Your Internet Defender, Inc. 8-K/A


Exhibit 10.26


 


SPIN-OUT AGREEMENT


 


THIS SPIN-OUT AGREEMENT (this “Agreement”)
is entered into as of August 12, 2014 by and between Lisa Grossman, an individual (the “Buyer”), and
Your Internet Defender Inc., a Nevada corporation (the “Seller”).


 


RECITALS


 


WHEREAS, Seller is an online information management company engaged
in the business of providing specialized services and solutions in the areas of online reputation management and organic search
engine optimization (the “Business”).


 


WHEREAS, Seller entered into that certain Securities Exchange and
Acquisition Agreement (the “Securities Exchange Agreement”), dated as of August 5, 2014, between Seller
and Corindus, Inc., a Delaware corporation (“Corindus”), pursuant to which Seller acquired 100% of the
outstanding capital stock of Corindus and Corindus Security Corporation (the “Corindus Shares”).


 


WHEREAS, the execution and delivery of this Agreement is required
in connection with the Securities Exchange Agreement, and the consummation of the assignment, assumption, purchase and sale transaction
contemplated by this Agreement is also a condition to the completion of the transactions contemplated by the Securities Exchange
Agreement.


 


WHEREAS, Buyer desires to buy all of Seller’s assets excluding
the Corindus Shares (the “Assets”), and to assume, as between Seller and Buyer, all responsibility for
any debts, obligations and liabilities of Seller, on the terms and subject to the conditions specified in this Agreement.


 


WHEREAS, Seller desires to sell and transfer the Assets to the Buyer,
on the terms and subject to the conditions specified in this Agreement.


 


NOW, THEREFORE, in consideration of the premises and the covenants,
promises and agreements herein set forth and for other good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the parties hereto, intending legally to be bound, agree as follows:


 


1.            Sale and Purchase of Assets.


 


1.1          Sale of Assets and Assignment of Contracts.


 


(a)          Assets of Seller. On the terms and subject to the conditions
of this Agreement and for the consideration set forth herein, Seller hereby sells, conveys, assigns, transfers and delivers to
Buyer, and Buyer hereby purchases and acquires from Seller, all of the assets and properties of Seller, including, without limitation,
those assets of Seller identified in Exhibit A (but excluding the Corindus Shares) (together with the Contracts, the
“Assets”).


 



    	 



    	 



    

 


(b)          Contracts. Seller hereby assigns and delegates, and
the Buyer hereby assumes, all rights to and duties under the contracts of Seller listed on Exhibit B and currently
used by Seller to operate the Assets (collectively, the “Contracts”).


 


1.2          Purchase Price. Subject to the other terms and conditions
of this Agreement, and in full consideration for the Assets, Buyer shall cancel Seller’s indebtedness to Buyer in
the aggregate principal amount of $248,831.59 (plus accrued and unpaid interest if any) pursuant to the promissory note dated
June 30, 2014 (the “Promissory Note”) and Buyer shall assume all Liabilities (as such term is defined
below) of Seller pursuant to Section 1.3 hereof (collectively, the “Purchase Price”).


 


1.3          Assignment and Assumption of Liabilities. In connection
with the purchase and sale of the Assets pursuant to this Agreement, Seller hereby assigns to Buyer, and Buyer hereby assumes
and agrees to pay, honor and discharge, and to indemnify Seller and Seller’s affiliates against, all debts, adverse claims,
liabilities, judgments and obligations, including tax obligations, of Seller as of the date hereof whether accrued, contingent
or otherwise and whether known or unknown, including those arising under any law (including common law) or any rule or regulation
of any governmental authority or imposed by any court or any arbitrator in a binding arbitration resulting from, arising out of
or relating to the assets, activities, operations, actions or omissions of Seller, or products manufactured or sold thereby or
services provided thereby, or under contracts, agreements (whether written or oral), leases, commitments or undertakings thereof
(collectively, “Liabilities”).


 


1.4          Seller’s Deliveries. On the date hereof, Seller
shall deliver or cause to be delivered to Buyer (a) a Bill of Sale, attached hereto as Exhibit C, for the Assets; (b) an
Assignment of Contracts, attached hereto as Exhibit D; and (c) an Assignment of Intellectual Property, attached hereto
as Exhibit E.


 


1.5          Buyer’s Deliveries. On the date hereof, Buyer
shall deliver or cause to be delivered to Seller against delivery of the Bill of Sale (a) the original Promissory Note annotated
by the Seller as “Paid in Full” and (b) such other documents and instruments as shall be reasonably requested by the
Seller to effect the transactions contemplated hereby. To the extent not already in Seller’s possession, the Buyer shall
transfer to Seller all of the existing corporate books and records in the possession of Buyer relating to Seller, including, but
not limited to, all corporate minute books, stock ledgers, certificates and corporate seals of Seller and all agreements, litigation
files, real property files, personnel files and filings with governmental agencies.


 


2.            Representations
and Warranties of Seller. Seller hereby represents and warrants to Buyer that:


 


2.1          Organization and Authority. Seller (a) is a corporation
duly organized, validly existing and in good standing under the laws of the State of Nevada, (b) has all necessary corporate
power to own and lease its properties and to enter into and perform this Agreement.


 



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2.2          Authority Relating to this Agreement. The execution
and delivery of this Agreement and the performance hereunder by Seller have been duly authorized by all necessary corporate action
on the part of Seller and, assuming execution of this Agreement by Buyer, this Agreement will constitute a legal, valid and binding
obligation of Seller, enforceable against Seller in accordance with its terms, subject as to enforcement (a) to bankruptcy, insolvency,
reorganization, arrangement, moratorium and other laws of general applicability relating to or affecting creditors’ rights
and (b) to general principles of equity, whether such enforcement is considered in a proceeding in equity or at law.


 


2.3          Change of Name. Seller shall take such corporate action
as is necessary to change the Seller’s name as soon as reasonably practicable after the date hereof. Promptly after the
name change, Seller shall notify Buyer, whereupon, Buyer shall be free to utilize the name “Your Internet Defender”
free of any claims from Seller.


 


2.4          Use
of Websites and Intellectual Property. Seller shall immediately cease using the websites, www.yourinternetdefender.com
and www.YIDefender.com (collectively, the “Websites”) and shall deliver to Buyer such information and authorizations
held by Seller as shall be reasonably necessary for Buyer’s utilization of the Websites. Buyer shall refrain from using
the name “Your Internet Defender” until such time as Seller has changed its name.


 


2.5          Liabilities. The Seller incurred no Liabilities between
July 1, 2014 and the date hereof.


 


3.            Representations
and Warranties of Buyer. Buyer hereby represents and warrants to Seller that:


 


3.1          Authority Relating to this Agreement. Buyer has the
legal capacity and full power and authority to execute and deliver this Agreement and to perform Buyer’s obligations hereunder.
This Agreement constitutes the valid and legally binding obligation of Buyer, enforceable against Buyer in accordance with its
terms, subject as to enforcement (a) to bankruptcy, insolvency, reorganization, arrangement, moratorium and other laws of general
applicability relating to or affecting creditors’ rights and (b) to general principles of equity, whether such enforcement
is considered in a proceeding in equity or at law.


 


3.2          Compliance. Neither the execution and delivery of
this Agreement nor the consummation of the transactions contemplated hereby by Buyer will result in the breach of any term or
provision of, or constitute a default under, or violate any agreement, indenture, instrument, order, law or regulation to which
Buyer is a party or by which Buyer is bound.


 


3.3          Liabilities. Following the date hereof, Seller will
have no liability for any of the Assets or the Business or any Liabilities, or the business or activities of Seller prior to the
date hereof, and, there are no outstanding guaranties, performance or payment bonds, letters of credit or other contingent contractual
obligations that have been undertaken by Seller directly or indirectly in relation to Assets or the Business, or the business
of Seller prior to the date hereof.


 



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4.            Other Agreement.


 


4.1          Access to Information; Cooperation.


 


(a)          Buyer shall afford to Seller and its authorized accountants,
counsel and other designated representatives, reasonable access (and including using reasonable efforts to give access to persons
or firms possessing information) and duplicating rights during normal business hours to allow records, books, contracts, instruments,
computer data and other data and information (collectively, “Information”) within the possession or
control of Buyer or its affiliates insofar as such access is reasonably required by Seller. Information may be requested under
this Section 4.1(a), for, without limitation, audit, accounting, claims, litigation and tax purposes, as well as for purposes
of fulfilling disclosure and reporting obligations and performing this Agreement and the transactions contemplated hereby. No
files, books or records relating to the Assets, the Business or the Liabilities existing on the date hereof shall be destroyed
by Buyer after the date hereof but prior to the expiration of any period during which such files, books or records are required
to be maintained and preserved by applicable law without giving Seller at least 30 days’ prior written notice, during which
time Seller shall have the right to examine and to remove any such files, books and records prior to their destruction.


 


(b)          Buyer and her respective affiliates, employees and agents shall
each hold in strict confidence all Information concerning the Seller in their possession or furnished by the Seller or Seller’s
representative pursuant to this Agreement with the same degree of care as Buyer utilizes as to Buyer’s own confidential
information (except to the extent that such Information is (i) in the public domain through no fault of Seller or (ii) later lawfully
acquired from any other source by Buyer), and Buyer shall not release or disclose such Information to any other person, except
Buyer’s auditors, attorneys, financial advisors, bankers, other consultants and advisors or persons to whom such party has
a valid obligation to disclose such Information, unless compelled to disclose such Information by judicial or administrative process
or, as advised by its counsel, by other requirements of law.


 


(c)          Buyer shall use her best efforts to forward promptly to the
Seller all notices, claims, correspondence and other materials which are received and determined to pertain to the Seller.


 


4.2          Guarantees, Surety Bonds and Letter of Credit Obligations.
In the event that Seller is obligated for any debts, obligations or liabilities related to the Assets or the Business or any Liabilities
or the business or activities of Seller prior to the date hereof by virtue of any outstanding guarantee, performance or surety
bond or letter of credit provided or arranged by Seller on or prior to the date hereof, Buyer shall use her best efforts to cause
to be issued replacements of such bonds, letters of credit and guarantees and to obtain any amendments, novations, releases and
approvals necessary to release and discharge fully Seller from any liability thereunder. Buyer shall be responsible for, and shall
indemnify, hold harmless and defend Seller from and against, any costs or losses incurred by Seller arising from such bonds, letters
of credit and guarantees and any liabilities arising therefrom and shall reimburse Seller for any payments that Seller may be
required to pay pursuant to enforcement of its obligations relating to such bonds, letters of credit and guarantees.


 



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4.3          Insurance. Buyer acknowledges that any insurance coverage
and bonds provided by Seller for the Business will terminate with respect to any insured damages resulting from matters occurring
subsequent to the date hereof.


 


4.4          Employment Matters. Effective on the date hereof,
Seller shall terminate the Employees. Buyer shall have the right, but not the obligation, to offer employment to the Employees,
at the salary levels and on other terms and conditions to be determined in Buyer’s sole discretion. Seller shall have no
liability for, and Buyer shall assume all liability for, any employee plans, programs, agreements, arrangements and methods of
contribution or compensation, accrued wages (including salaries and commissions), severance pay, sick leave or other benefits,
of any type or nature on account of Seller’s employment of or termination of such Employees. “Employees”
shall mean all employees of the Seller with responsibility for operating the Assets or in any way involved in the business of
the Seller prior to the date hereof.


 


4.5          Agreements Regarding Taxes.


 


(a)          Returns for Periods Through the Pre-Closing Date. Seller
will include the income and loss of the Business on Seller’s federal and state income tax returns for all periods through
the date hereof and pay any federal and state income taxes attributable to such income. Seller and Buyer agree to allocate income,
gain, loss, deductions and credits between the period up to the date hereof (the “Pre-Closing Period”)
and the period from and after the date hereof (the “Post-Closing Period”) based on a closing of the
books of the Business. Buyer agrees to indemnify Seller for any additional tax owed by Seller (including tax owed by Seller due
to this indemnification payment) resulting from any transaction engaged in by the Seller during the Pre-Closing Period or on the
date hereof before Buyer’s purchase of the Assets.


 


(b)          Audits. In the event that after the date hereof any
tax authority informs Buyer of any notice of proposed audit, claim, assessment or other dispute concerning an amount of taxes
which pertain to Seller, or to the Business, during the period prior to the date hereof, Buyer must promptly notify Seller of
the same within 15 calendar days of the date of the notice from the tax authority. To the extent of any conflict or inconsistency,
the provisions of this Section 4.5 shall control over the provisions of Section 5.1 below.


 


(c)          Cooperation on Tax Matters. Buyer and Seller shall cooperate
fully, as and to the extent reasonably requested by any party, in connection with the filing of tax returns pursuant to this Section
4.5 and any audit, litigation or other proceeding with respect to taxes. Such cooperation shall include the retention and
(upon the other party’s request) the provision of records and information which are reasonably relevant to any such audit,
litigation or other proceeding and making employees available on a mutually convenient basis to provide additional information
and explanation of any material provided hereunder. Buyer shall (i) retain all books and records with respect to tax matters pertinent
to the Business and Seller relating to any taxable period beginning before the date hereof until the expiration of the statute
of limitations (and, to the extent notified by Seller, any extensions thereof) of the respective taxable periods, and abide by
all record retention agreements entered into with any taxing authority, and (ii) give Seller reasonable written notice prior to
transferring, destroying or discarding any such books and records and, if Seller so requests, Buyer agrees to allow Seller to
take possession of such books and records.


 



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4.6          As Is; No other Representations and Warranties. Except
with respect to the representations and warranties contained in Section 2, Buyer is acquiring the Assets AS IS, WHERE IS.
SELLER MAKES NO OTHER REPRESENTATION OR WARRANTY, EXPRESS OR IMPLIED, AND SELLER DISCLAIMS THE IMPLIED WARRANTIES OF MERCHANTABILITY
OR FITNESS FOR A PARTICULAR PURPOSE WITH RESPECT THERETO. EXCEPT FOR THE REPRESENTATIONS AND WARRANTIES SET FORTH IN SECTION
2, NONE OF THE SELLER OR ITS AFFILIATES OR ANY OTHER PERSON MAKES ANY REPRESENTATION OR WARRANTY, WRITTEN OR ORAL, STATUTORY,
EXPRESS OR IMPLIED, WITH RESPECT TO THE ASSETS OR THE OPERATIONS, LIABILITIES, CONDITION (FINANCIAL OR OTHERWISE) OR PROSPECTS
OF THE BUSINESS.


 


5.            Indemnity;
Release.


 


5.1          Buyer’s Indemnity. Buyer shall indemnify and
hold harmless Seller from and against any and all losses, costs, expenses, liabilities, obligations, claims, demands, causes of
action, suits, settlements and judgments of every nature, including the costs and expenses associated therewith and reasonable
attorneys’ and witness fees incurred (“Seller’s Damages” and when used together with or
in the alternative to Buyer’s Damages, “Damages”), which arise out of:


 


(a) the breach by Buyer of any representation or warranty
made by Buyer pursuant to this Agreement;


 


(b) any breach or nonfulfillment of any covenant or
agreement (including any other agreement of Buyer to indemnity set forth in this Agreement) on the part of Buyer under this Agreement;


 


(c) the Assets, the Business or any Liability or any other
debt, liability or obligation of the Seller prior to the date hereof;


 


(d) the conduct and operations of the business of Seller
prior to the date hereof;


 


(e) the conduct and operations of the business of Seller
pertaining to the Assets, the Liabilities or the Business whether before or after the date hereof;


 


(e) any federal or state income tax payable by Seller and
attributable to the transaction contemplated by this Agreement or to the business of Seller prior to the date hereof; and


 


(f) claims of any type or nature relating to the retention,
or alleged retention by Buyer, or any of Buyer’s affiliates or agents, of any broker or finder in connection with the transactions
contemplated by this Agreement.


 


5.2          Seller’s Indemnity. Seller shall indemnify and
hold harmless Buyer from and against any and all losses, costs, expenses, liabilities, obligations, claims, demands, causes of
action, suits, settlements and judgments of every nature, including the costs and expenses associated therewith and reasonable
attorneys’ and witness fees incurred (“Buyer’s Damages”), which arise out of the breach
by Seller of any representation or warranty made by Seller pursuant to this Agreement.


 



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5.3          Release. The Buyer, on behalf of Buyer and Buyer’s
heirs, personal representatives, successors and assigns (collectively, the “Releasors”), hereby forever
fully and irrevocably releases and discharges the Seller and each of its Subsidiaries, and each of their respective predecessors,
successors, direct or indirect subsidiaries, directors, officers, employees, agents and other representatives (collectively, the
“Released Parties”), from any and all actions, suits, claims, demands, debts, agreements, obligations,
promises, judgments and liabilities of any kind whatsoever in law or equity and causes of action of every kind and nature or otherwise
(including, claims for damages, costs, expenses, and attorneys’, brokers’ and accountants’ fees and expenses)
arising out of or related to events, facts, conditions or circumstances existing or arising prior to or after the date hereof,
which the Releasors can, shall or may have against the Released Parties, whether known or unknown, suspected or unsuspected, anticipated
or unanticipated (collectively, the “Released Claims”). The Releasors irrevocably agree to refrain from
instituting any suit, action or proceeding of any kind, in any court or before any tribunal, against any Released Party based
upon, arising out of, or relating to any Released Claim, participating, assisting or cooperating in any such suit, action or proceeding
or encouraging or soliciting any third party to institute any such suit, action or proceeding. Notwithstanding the preceding sentences
of this Section 5.3, “Released Claims” does not include, and the provisions of this Section 5.3
shall not release or otherwise diminish, the obligations of either party hereto set forth in or arising under any provisions of
this Agreement.


 


5.4          Notice. In the event that either party hereto suffers
Damages, such party making a claim for indemnification (“Indemnitee”) shall within 60 days of discovering
or incurring such Damages give the other party hereto (“Indemnitor”) written notice thereof (“Notice
of Claim”). The Notice of Claim shall state in reasonable detail the nature of the claim, the specific provisions
in this Agreement alleged to have been breached and the amount of the claim for indemnification representing the Indemnitee’s
good faith estimate of the Damages. The Indemnitor shall have 30 days from receipt of the Notice of Claim to accept or reject
the claim for indemnification. The Indemnitee shall be deemed to have waived its right to indemnification for any Damages for
which notice is not given in a timely manner as set forth herein if and to the extent that the Indemnitor can show that such failure
to give timely notice has materially prejudiced the Indemnitor’s ability to defend or otherwise respond to such claim.


 


6.            Miscellaneous.


 


6.1          Assignment. This Agreement shall be binding upon and
inure to the benefit of the successors and assigns of the parties hereto.


 


6.2          Allocation of Purchase Price. Seller and Buyer shall
mutually agree that the allocation of the Purchase Price among the various items included in the Assets being transferred by Seller
to Buyer shall be as follows: If there is a balance in Accounts Receivable at the time of Closing, that amount will be allocated
to Accounts Receivable with the balance of the Purchase Price allocated to Intangible Assets. If there is no balance in Account
Receivable at the time of Closing, then the entire Purchase Price will be allocated to Intangible Assets. Buyer and Seller shall
file all tax returns and reports in a manner consistent with such allocation.


 



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6.3          Transfer Taxes. Any sales, use or other transfer taxes
arising out of or incurred in connection with the transactions contemplated by this Agreement, including, without limitation,
Nevada and New York state sales taxes, shall be paid by the Buyer.


 


6.4          Transaction Expenses. Buyer shall pay all of her expenses
incurred in connection with the transactions contemplated hereby, and the Seller shall pay all of its expenses incurred in connection
with the transactions contemplated hereby (including in each case all of the fees and expenses of all advisers used in the transactions
contemplated hereby, such as accounting and legal services).


 


6.5          Notices. All notices and other communications hereunder
will be in writing and will be deemed given if delivered by hand, mailed by registered or certified mail (return receipt requested),
sent by facsimile or sent by Federal Express or other recognized overnight courier to either party hereto at the following addresses
(or at such other address for such party as will be specified by like notice):


 


	 	If to Buyer:	Lisa Grossman
	 		20 E. Sunrise Highway, Suite 101
	 		Valley Stream, NY 11581
	 		Facsimile: (516) 256-3003
	 		Phone: (516) 303-8199




 


	 	If to Seller at:	Your Internet Defender Inc.
	 		c/o Corindus Vascular Robotics
	 		309 Waverley Oaks Road
	 		Suite 105
	 		Waltham, MA 02452
	 		Facsimile: (508) 653-3355
	 		Phone: (800) 605-9635
	 		Attn: Chief Executive Officer




 


	 	with a copy to:	McDermott Will & Emery LLP
	 		28 State Street
	 		Boston, MA 02109
	 		Facsimile: (617) 535-3876
	 		Phone: (617) 535-3876
	 		Attn: Richard B. Smith




 


The above addresses may be changed at any time by notice given as provided above; provided,
that any such notice of change of address by a party hereto will be effective only upon receipt by the other party hereto. All
notices, requests or instructions given in accordance herewith will be deemed received on the date of delivery, if hand delivered,
on the date of receipt, if transmitted by facsimile, three days after the date of mailing, if mailed by registered or certified
mail return receipt requested and one day after the date of sending if sent by Federal Express or other recognized overnight courier.


 



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6.6          Entire Agreement and Amendment. This Agreement constitutes
the entire agreement of the parties hereto and supersedes any and all prior negotiations, correspondence, understandings and agreements
between the parties hereto with respect to the subject matter hereof. This Agreement may only be amended by written instrument
signed by both parties hereto.


 


6.7          Governing
Law; Jurisdiction and Venue. This agreement, and any matter or dispute arising hereunder or in connection with this Agreement,
will be governed by and construed in accordance with the laws of the Commonwealth of Massachusetts without giving effect to conflict
of laws principles thereof. Each party hereto irrevocably consents to the exclusive jurisdiction of any state courts of the Commonwealth
of Massachusetts and any federal court located in the Commonwealth of Massachusetts, as well as to the jurisdiction of all courts
to which an appeal may be taken from such courts, for the purpose of any suit, action or other proceeding arising out of, or in
connection with, this agreement or any of the transactions contemplated hereby. Each party hereby expressly waives any and all
rights to bring any suit, action or other proceeding in or before any court or tribunal other than those located in the Commonwealth
of Massachusetts. In addition, each party consents to the service of process by personal service or any other manner in which
notices may be delivered hereunder in accordance with this agreement.


 


6.8          Severability. If any provision of this Agreement is
held to be unenforceable for any reason, it shall be adjusted rather than voided, if possible, in order to achieve the intent
of the parties to the extent possible. If any event, all other provisions of this Agreement shall be deemed valid and enforceable
to the fullest extent practicable.


 


6.9          Headings. The headings appearing at the beginning
of sections contained herein have been inserted for the convenience of the parties hereto and shall not be used to determine the
construction or interpretation of this Agreement.


 


6.10        Counterparts. This Agreement may be executed and
delivered (including by facsimile transmission) in counterparts, both of which will be considered one and the same agreement.


 


[SIGNATURE PAGES TO FOLLOW]


 



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IN WITNESS WHEREOF, the parties hereto have caused this Spin-Out Agreement to be executed
as of the date first written above.


 





	 	BUYER:
	 	 
	 	/s/ Lisa Grossman
	 	Lisa Grossman
	 	 	 
	 	SELLER:
	 	 	 
	 	YOUR INTERNET DEFENDER INC.
	 	 	 
	 	By:	/s/ David M. Handler
	 	 	David M. Handler
	 	 	Chief Executive Officer



 



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	TABLE OF EXHIBITS
	 	 	 
	Exhibit A	 	Description of Assets Sold
	Exhibit B	 	Contracts Assigned
	Exhibit C	 	Form of Bill of Sale (including an attached Exhibit A)
	Exhibit D	 	Form of Assignment of Contracts (including an attached Exhibit A)
	Exhibit E	 	Form of Assignment of Intellectual Property (including an attached Exhibit A)



 



    	 



    	 



    

 


EXHIBIT A TO SPIN-OUT AGREEMENT


 





DESCRIPTION OF ASSETS SOLD


 


Two websites: www.yourinternetdefender.com and www.YIDefender.com


 


Customer accounts currently being serviced (Track Data, New York Heath
Care, Inc. and a few smaller accounts) and those serviced in the past.


 


An SaaS application referred to as SEO Nexus. Nexus is software which
allows individual web owners to manage and automate the process of organic Google optimization, social networking and online marketing
across numerous web properties through a centralized cloud-based interface, operating on a hub-and-spoke basis.


 


The fully amortized tracking/operating system and related database.


 


All rights to the name “Your Internet Defender” after Name Change.


 



    	 



    	 



    

 


EXHIBIT B TO SPIN-OUT AGREEMENT


 


CONTRACTS ASSIGNED


 


Service Agreement with Track Data


 


Service Agreement with New York Health Care, Inc.


 


All service agreements with smaller accounts


 



    	 



    	 



    

 


EXHIBIT C TO SPIN-OUT AGREEMENT


 


BILL OF SALE


 


THIS BILL OF SALE (“Bill of Sale”) is
delivered as of August 12, 2014, from Your Internet Defender Inc., a Nevada corporation (“Seller”),
to Lisa Grossman (“Buyer”).


 


Seller and Buyer have entered into a Spin-Out Agreement dated as
of August 12, 2014 (the “Agreement”), providing for the sale by Seller to Buyer of the assets described
on Exhibit A attached hereto on the date hereof.


 


NOW, THEREFORE, for good and valuable consideration, Seller does
hereby sell, convey, assign, transfer and deliver good title in and to the assets which are listed on Exhibit A attached
hereto, as they exist on the date hereof.


 


IN WITNESS WHEREOF, this Bill of Sale has been duly executed as
of the day and year first above written.


 


	 	 	SELLER:
	 	 	 
	 	 	YOUR INTERNET DEFENDER INC.
	 	 	 	 
	 	 	By:	/s/ David M. Handler
	 	 	 	David M. Handler
	 	 	 	Chief Executive Officer
	 	 	 	 
	Acknowledged and Agreed:	 	 	 
	 	 	 	 
	BUYER:	 	 	 
	 	 	 	 
	/s/ Lisa Grossman	 	 	 
	Lisa Grossman	 	 	 



 



    	 



    	 



    

 


EXHIBIT A to BILL OF SALE


 





DESCRIPTION OF ASSETS SOLD


 


Two websites: www.yourinternetdefender.com and www.YIDefender.com


 


Customer accounts being serviced now (Track Data, New York Heath Care,
Inc. and a few smaller accounts) and those serviced in the past.


 


An SaaS application referred to as SEO Nexus. Nexus is software which
allows individual web owners to manage and automate the process of organic Google optimization, social networking and online marketing
across numerous web properties through a centralized cloud-based interface, operating on a hub-and-spoke basis.


 


The fully amortized tracking/operating system and related database.


 


All rights to the name “Your Internet Defender” after Name Change.


 



    	 



    	 



    

 


EXHIBIT D TO SPIN-OUT AGREEMENT


 


ASSIGNMENT OF CONTRACTS 


 


THIS ASSIGNMENT OF CONTRACTS (“Assignment of
Contracts”) is delivered as of August 12, 2014, from Your Internet Defender Inc., a Nevada corporation (“Seller”),
to Lisa Grossman (“Buyer”).


 


WHEREAS, Seller and Buyer have entered into a Spin-Out Agreement
dated as of August 12, 2014 (the “Agreement”), providing for the sale by Seller to Buyer of certain
Contracts listed on the attached Exhibit A, attached hereto and incorporated herein by reference (the “Contracts”);
and


 


WHEREAS, Buyer wishes to assume all rights and liabilities
associated with such Contracts and to release Seller therefrom.


 


NOW THEREFORE in consideration of the premises and the mutual
agreements and covenants herein contained, the parties hereto hereby covenant and agree as follows:


 


1.          The Seller does hereby assign all of its right, title and interest in and
to the Contracts to the Buyer, including but not limited to its right to all accounts receivable thereunder and any and all deposits
or other funds held or accruing under the terms of the Contracts.


 


2.          The Buyer does hereby certify that it has reviewed the Contracts. Buyer hereby
assumes all of the obligations and liabilities of Seller under the Contracts and agrees to be bound by all of the terms and conditions
of the Contracts. Buyer hereby affirms all of the Contracts, acknowledgements, representations, covenants, warranties, assumptions
and indemnities of Seller under the Contracts. Buyer hereby confirms that all Contracts, acknowledgements, representations, covenants,
warranties, assumptions and indemnities made by Seller in the Contracts are also made by Buyer to same extent as if Buyer had
signed the Contracts.


 


3.          The Contracts, are hereby ratified and confirmed, and all the terms, provisions
and conditions of the Contracts shall remain in full force and effect and shall be binding upon and inure to the benefit of the
parties hereto.


 


4.          The Seller and Buyer agree to cooperate with each other to ensure
that the Contracts are adequately transferred to the Buyer.


 



    	 



    	 



    

 


IN WITNESS WHEREOF, this Assignment of
Contracts has been duly executed as of the day and year first above written.


 


	 	 	SELLER:
	 	 	 	 
	 	 	YOUR INTERNET DEFENDER INC.
	 	 	 	 
	 	 	By:	/s/ David M. Handler
	 	 	 	David M. Handler
	 	 	 	Chief Executive Officer
	 	 	 	 
	Acknowledged and Agreed:	 	 	 
	 	 	 	 
	BUYER:	 	 	 
	 	 	 	 
	/s/ Lisa Grossman	 	 	 
	Lisa Grossman	 	 	 



 



    	 



    	 



    

 


EXHIBIT A TO ASSIGNMENT OF CONTRACTS


 


Service Agreement with Track Data


 


Service Agreement with New York Health Care, Inc.


 


All service agreements with smaller accounts


 



    	 



    	 



    

 


EXHIBIT E TO SPIN-OUT AGREEMENT


 


ASSIGNMENT OF INTELLECTUAL PROPERTY


 


THIS ASSIGNMENT OF INTELLECTUAL PROPERTY (“Assignment
of IP”) is delivered as of August 12, 2014, from Your Internet Defender Inc., a Nevada corporation
(“Seller”), to Lisa Grossman (“Buyer”).


 


WHEREAS, Seller and Buyer have entered into a Spin-Out Agreement
dated as of August 12, 2014 (the “Agreement”), providing for the sale by Seller to Buyer of the Seller’s
Intellectual Property, including, but not limited to, the items listed on the attached Exhibit “A” all of their intellectual
property relating to the development of the websites www.yourinternetdefender.com and www.YIDefender.com (the “Websites”)
to Buyer; and


 


AND WHEREAS, Buyer wishes to receive the intellectual property
and assume all liabilities associated with such intellectual property; and


 


NOW THEREFORE in consideration of the premises and the mutual
agreements and covenants herein contained, the parties hereto hereby covenant and agree as follows:


 


Definitions


 


1.01                  In this Agreement the following definitions shall apply:


 


a)          “Documents” shall mean file memoranda, notes, records, charts
and other documents made, received, held or used by the Seller in respect to the IP, as defined herein.


 


b)          “IP” shall mean the Websites, all concepts, source code, domain
names, discoveries, designs, inventions, developments and improvements made, invented, authored, written, registered or discovered,
solely, jointly or partly by the Seller relating to the Websites and all intellectual property rights attaching thereto, including,
for greater certainty any trade secrets, patents, trade-marks and copyrights.


 


Article 2 - Assignment


 


2.01                  The Seller hereby irrevocably sells, assigns and transfers, and agrees to sell,
assign, and transfer exclusively to Buyer, all of its right, title and interest in and to the Documents and the IP.


 


2.02                  The Seller hereby irrevocably waives all moral rights or similar rights that
it may have in the Documents or the IP in favour of Buyer to the extent they cannot be assigned to Buyer.


 



    	 



    	 



    

 


Article 3 - General Provisions


 


3.01                   This Agreement shall inure to the benefit of and be binding upon the assigns
of the parties.


 


3.02                   This Assignment shall be governed by and construed in accordance of the laws
of the state of Massachusetts.


 


IN WITNESS WHEREOF, this Assignment of IP
has been duly executed as of the day and year first above written.


 


	 	 	SELLER:
	 	 	 	 
	 	 	YOUR INTERNET DEFENDER INC.
	 	 	 	 
	 	 	By:	/s/ David M. Handler
	 	 	 	David M. Handler
	 	 	 	Chief Executive Officer
	 	 	 	 
	Acknowledged and Agreed:	 	 	 
	 	 	 	 
	BUYER:	 	 	 
	 	 	 	 
	/s/ Lisa Grossman	 	 	 
	Lisa Grossman	 	 	 



 



    	 



    	 



    

 


EXHIBIT A TO ASSIGNMENT OF INTELLECTUAL PROPERTY


 


Two websites: www.yourinternetdefender.com and www.YIDefender.com


 


An SaaS application referred to as SEO Nexus. Nexus is software which
allows individual web owners to manage and automate the process of organic Google optimization, social networking and online marketing
across numerous web properties through a centralized cloud-based interface, operating on a hub-and-spoke basis.


 


The fully amortized tracking/operating system and related database.