Document:

Exhibit 10.2

 

 

ESCROW DEPOSIT AGREEMENT

This ESCROW DEPOSIT AGREEMENT (this "Agreement") dated as of this [__]th day of February 2018 by and among Riot Blockchain, Inc., a Nevada corporation (the "Parent") having an address at 202 6th Street, Suite 401, Castle Rock, CO 80104, Kairos Global Technology Inc., the Company's subsidiary (the "Company") Prive Technologies LLC having an address at [___] ("Prive") and CORPORATE STOCK TRANSFER, INC. (the "Escrow Agent"), a stock transfer agent, having an office at 3200 Cherry Creek South Drive, Suite 430, Denver, CO 80209.  All capitalized terms not herein defined shall have the meaning ascribed to them in that certain Asset Purchase Agreement, dated February [___], 2018 as amended or supplemented from time-to-time, including all attachments, schedules and exhibits thereto (the "Purchase Agreement").

W I T N E S S E T H:

WHEREAS, pursuant to the terms of the Purchase Agreement the Company desires to purchase the Purchased Assets from Prive, as representative of the Sellers.  The Purchased Assets are being acquired by the Company in consideration for (i) Eleven Million Dollars ($11,000,000) in cash and (ii) One Million (1,000,000) shares of Parent's common stock (the "Shares"); and

WHEREAS, the Parent, the Company and Prive desire to establish an escrow account with the Escrow Agent into which the Company shall deposit the Two Hundred Thousand (200,000) of the Shares (the "Escrowed Shares") and Escrow Agent is willing to accept said Escrowed Shares in accordance with the terms hereinafter set forth; and

WHEREAS, unless the release of the Escrowed Shares is consummated within two (2) years of the Closing Date, (the "Termination Date") pursuant to Section 2.09 of the Purchase Agreement, the Escrowed Shares shall thereafter be returned to the Company for cancellation; and

WHEREAS, the Company and Prive each represent and warrant to the Escrow Agent that neither has stated to any individual or entity that the Escrow Agent's duties will include anything other than those duties stated in this Agreement; and

WHEREAS, the Company warrants to the Escrow Agent that a copy of the Purchase Agreement has been attached hereto as Schedule I.

NOW, THEREFORE, IT IS AGREED as follows:

1. Delivery of Escrowed Shares.  On the Closing Date, the Parent shall deliver the Escrowed Shares to the Escrow Agent (the "Escrow Account").

2. Release of Escrowed Shares.  The Escrowed Shares shall be released by the Escrow Agent in accordance with the terms herein and below:

 

 

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(a) In the event that the Company and Prive advise the Escrow Agent in writing that the Purchase Agreement has been terminated (the "Termination Notice"), the Escrow Agent shall promptly return the Escrowed Shares to the Company.

(b) Intentionally Omitted

(c) Provided that the Escrow Agent does not receive the Termination Notice in accordance with Section 2(a) on or prior to the Termination Date, the Escrow Agent shall, upon receipt of written instructions in a form and substance satisfactory to the Escrow Agent, received from the Company, release the Escrowed Shares to Sellers in accordance with such written instructions, which instructions shall be in accordance with this Section 2(c). The Escrowed Shares shall be released on or before the Termination Date in accordance with the written instructions of the Company, provided that the Company certifies that it has generated at least Ten Million Dollars ($10,000,000) in Net Cash Flow (as defined in the Asset Purchase Agreement) from the Equipment.

(d) If by 3:00 P.M. Eastern time on the Termination Date the Escrow Agent has not received written instructions from the Company regarding the release of the Escrowed Shares, then the Escrow Agent shall promptly return the Escrowed Shares to the Company.  The Escrowed Shares returned to the Company shall be free and clear of any and all claims of the Escrow Agent.

(e) If the Termination Date or any date that is a deadline under this Agreement for giving the Escrow Agent notice or instructions or for the Escrow Agent to take action is not a Business Day, then such date shall be the Business Day that immediately preceding that date. A Business Day is any day other than a Saturday, Sunday or a Bank holiday.

3. Acceptance by Escrow Agent.  The Escrow Agent hereby accepts and agrees to perform its obligations hereunder, provided that:

(a) The Escrow Agent may act in reliance upon any signature believed by it to be genuine, and may assume that any person who has been designated by the Company to give any written instructions, notice or receipt, or make any statements in connection with the provisions hereof has been duly authorized to do so.  Escrow Agent shall have no duty to make inquiry as to the genuineness, accuracy or validity of any statements or instructions or any signatures on statements or instructions.  The names and true signatures of each individual authorized to act singly on behalf of the Company and Prive are stated in Schedule II, which is attached hereto and made a part hereof. The Company and Prive may each remove or add one or more of its authorized signers stated on Schedule II by notifying the Escrow Agent of such change in accordance with this Agreement, which notice shall include the true signature for any new authorized signatories.

(b) The Escrow Agent may act relative hereto in reliance upon advice of counsel in reference to any matter connected herewith.  The Escrow Agent shall not be liable for any mistake of fact or error of judgment or law, or for any acts or omissions of any kind, unless caused by its willful misconduct or gross negligence.

 

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(c) The Company and Prive each agree to indemnify, defend and hold the Escrow Agent harmless from and against any and all claims, losses, costs, liabilities, damages, suits, demands, judgments or expenses (including but not limited to reasonable attorney's fees) "Claims") claimed against or incurred by Escrow Agent arising out of or related, directly or indirectly, to this Escrow Agreement unless caused by the Escrow Agent's gross negligence or willful misconduct; provided that the party with the obligation to indemnify receives prompt written notice of any such Claim and has the sole right to defend any such Claim.

(d) In the event that the Escrow Agent shall be uncertain as to its duties or rights hereunder, the Escrow Agent shall be entitled to (i) refrain from taking any action other than to keep safely the Escrowed Shares until it shall be directed otherwise by a court of competent jurisdiction, or (ii) deliver the Escrowed Shares to a court of competent jurisdiction.

4. Intentionally Omitted.

5. Resignation and Termination of the Escrow Agent.  The Escrow Agent may resign at any time by giving thirty (30) days' prior written notice of such resignation to Prive and the Company.  Upon providing such notice, the Escrow Agent shall have no further obligation hereunder except to hold as depositary the Escrow Funds that it receives until the end of such 30-day period.  In such event, the Escrow Agent shall not take any action, other than receiving the Escrowed Shares in accordance with this Agreement, until the Company has designated a banking corporation, trust company, attorney or other person as successor.  Upon receipt of such written designation signed by Prive and the Company, the Escrow Agent shall promptly deliver the Escrowed Shares to such successor and shall thereafter have no further obligations hereunder.  If such instructions are not received within thirty (30) days following the effective date of such resignation, then the Escrow Agent may deposit the Escrowed Shares held by it pursuant to this Agreement with a clerk of a court of competent jurisdiction pending the appointment of a successor.  In either case provided for in this Section, the Escrow Agent shall be relieved of all further obligations and released from all liability thereafter arising with respect to the Escrowed Shares.

6. Termination.  The Company and Prive may terminate the appointment of the Escrow Agent hereunder upon written notice specifying the date upon which such termination shall take effect, which date shall be at least thirty (30) days from the date of such notice.  In the event of such termination, the Company and Prive shall, within thirty (30) days of such notice, appoint a successor escrow agent and the Escrow Agent shall, upon receipt of written instructions signed by the Company and Prive, turn over to such successor escrow agent all of the Escrowed Shares; provided, however, that if the Company and Prive fail to appoint a successor escrow agent within such thirty (30)-day period, such termination notice shall be null and void and the Escrow Agent shall continue to be bound by all of the provisions hereof.  Upon receipt of the Escrowed Shares, the successor escrow agent shall become the escrow agent hereunder and shall be bound by all of the provisions hereof and Escrow Agent shall be relieved of all further obligations and released from all liability thereafter arising with respect to the Escrowed Shares and under this Agreement.

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7. Intentionally Omitted.

8. Compensation.  Escrow Agent shall be entitled, for the duties to be performed by it hereunder, to a fee of $1,000, which fee shall be paid by the Company upon the signing of this Agreement. In addition, the Company shall be obligated to reimburse Escrow Agent for all fees, costs and expenses incurred or that become due in connection with this Agreement or the Escrow Account, including reasonable attorney's fees.  Neither the modification, cancellation, termination or rescission of this Agreement nor the resignation or termination of the Escrow Agent shall affect the right of Escrow Agent to retain the amount of any fee which has been paid, or to be reimbursed or paid any amount which has been incurred or becomes due, prior to the effective date of any such modification, cancellation, termination, resignation or rescission.  To the extent the Escrow Agent has incurred any such expenses, or any such fee becomes due, prior to any closing, the Escrow Agent shall advise the Company and the Company shall direct all such amounts to be paid directly at any such closing.

9. Notices.  All notices, requests, demands and other communications required or permitted to be given hereunder shall be in writing and shall be deemed to have been duly given if sent by hand-delivery, by facsimile (followed by first-class mail), by nationally recognized overnight courier service or by prepaid registered or certified mail, return receipt requested, to the addresses set forth below:

If to Prive:

Prive Technologies LLC 

218 S Audubon Ave

Tampa, FL 33609

Attn: Bryan Pascual

If to the Company:

Riot Blockchain, Inc.

202 6th Street, Suite 401

Castle Rock, CO 80104

Attention:

Fax: _____________________

If to Escrow Agent:

Corporate Stock Transfer, Inc.

3200 Cherry Creek South Drive, Suite 430

Denver, CO 80209

Attention:

Fax:________________________

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10. General.

(a) This Agreement shall be governed by and construed and enforced in accordance with the laws of the State of New York applicable to agreements made and to be entirely performed within such State, without regard to choice of law principles and any action brought hereunder shall be brought in the courts of the State of New York, located in the County of New York.  Each party hereto irrevocably waives any objection on the grounds of venue, forum non-conveniens or any similar grounds and irrevocably consents to service of process by mail or in any manner permitted by applicable law and consents to the jurisdiction of said courts.  Each of the parties hereto hereby waives all right to trial by jury in any action, proceeding or counterclaim arising out of the transactions contemplated by this Agreement.

(b) This Agreement sets forth the entire agreement and understanding of the parties with respect to the matters contained herein and supersedes all prior agreements, arrangements and understandings relating thereto.

(c) All of the terms and conditions of this Agreement shall be binding upon, and inure to the benefit of and be enforceable by, the parties hereto, as well as their respective successors and assigns.

(d) This Agreement may be amended, modified, superseded or canceled, and any of the terms or conditions hereof may be waived, only by a written instrument executed by each party hereto or, in the case of a waiver, by the party waiving compliance.  The failure of any party at any time or times to require performance of any provision hereof shall in no manner affect its right at a later time to enforce the same.  No waiver of any party of any condition, or of the breach of any term contained in this Agreement, whether by conduct or otherwise, in any one or more instances shall be deemed to be or construed as a further or continuing waiver of any such condition or breach or a waiver of any other condition or of the breach of any other term of this Agreement.  No party may assign any rights, duties or obligations hereunder unless all other parties have given their prior written consent.

(e) If any provision included in this Agreement proves to be invalid or unenforceable, it shall not affect the validity of the remaining provisions.

(f) This Agreement and any modification or amendment of this Agreement may be executed in several counterparts or by separate instruments and all of such counterparts and instruments shall constitute one agreement, binding on all of the parties hereto.

11. Form of Signature. The parties hereto agree to accept a facsimile transmission copy of their respective actual signatures as evidence of their actual signatures to this Agreement and any modification or amendment of this Agreement; provided, however, that each party who produces a facsimile signature agrees, by the express terms hereof, to place, promptly after transmission of his or her signature by fax, a true and correct original copy of his or her signature in overnight mail to the address of the other party.

12. No Third-Party Beneficiaries.  This Agreement is solely for the benefit of the parties and their respective successors and permitted assigns, and no other person has any right, benefit, priority or interest under or because of the existence of this Agreement.

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IN WITNESS WHEREOF, the parties have duly executed this Agreement as of the date first set forth above.

	RIOT BLOCKCHAIN, INC.	 	 	
PRIVE TECHNOLOGIES LLC 

 

	 
	
/s/

	 	 	
/s/

	 
	
Name

	 	 	
Name

	 
	
Title

	 	 	
Title

	 

  

	
CORPORATE STOCK TRANSFER, INC.

 

	 	 	 	 
	
/s/

	 	 	
 

	 
	
Name

	 	 	
 

	 
	
Title

	 	 	
 

	 

 

 

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Schedule I

ASSET PURCHASE AGREEMENT

 

 

 

 

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Schedule II

The Escrow Agent is authorized to accept instructions signed or believed by the Escrow Agent to be signed by any one of the following on behalf of the Company and Prive.

RIOT BLOCKCHAIN, INC.

 

 

		Name 	
True Signature

 

		_______________________	
_____________________

 

PRIVE TECHNOLOGIES LLC

 

 

		Name 	
True Signature

 

		_______________________	
_____________________

 

		_______________________	
_____________________

8Exhibit 10.3

 

 

ASSET PURCHASE AGREEMENT

THIS AGREEMENT made this 15th day of February, 2018

 BETWEEN:

BLOCKCHAIN MINING SUPPLY & SERVICES LTD.

a corporation incorporated under the laws of the Province of Ontario

(the "Vendor")

- and -

RIOT BLOCKCHAIN, INC.

a corporation incorporated under the laws of the State of Nevada

(the "Purchaser")

WHEREAS the Vendor is the owner of certain assets being 3,000 Bitmain Antminer S9 model & 3,000 PSU more fully described on Schedule I attached hereto (the "Assets");

AND WHEREAS the Purchaser is desirous of purchasing the Assets from the Vendor;

NOW THEREFORE THIS AGREEMENT WITNESSETH that in consideration of the mutual covenants and agreements set out herein, the parties respectively covenant and agree as follows.

	1.	
Definitions.

Where used in this Agreement or in any amendment, the following terms shall have the following meanings respectively:

		(a)	
"Agreement" means this Agreement of Purchase and Sale, including all schedules, and all instruments supplemental to or in amendment or confirmation of this Agreement;

		(b)	
"Assets" means 3,000 Bitmain Antminer S9 model, and 3,000 PSU;

		(c)	
"Escrow Funding Date:" means the 15th day of February, 2018;

		(d)	
"Purchase Price" means the purchase price to be paid by the Purchaser to the Vendor as described in Section 2 of this Agreement; and

	2.	
Purchase Price. The purchase price payable to the Vendor by the Purchaser for the Assets shall be the sum of EIGHT MILLION, FIVE HUNDRED THOUSAND ($8,500,000 USD) US DOLLARS (the "Purchase Price").

		a.	
Payment of Purchase Price. The Purchase Price shall be payable as follows:

		i.	
SEVEN MILLION ($7,000,000 USD) US DOLLARS which shall be paid to an escrow account selected by the Purchaser on the Escrow Funding Date (the "Escrow Funds") pursuant to the Escrow Agreement (the "Escrow Agreement) in the form attached hereto as Exhibit A; and

 

 

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		ii.	
ONE MILLION FIVE HUNDRED THOUSAND ($1,500,000) US DOLLARS which shall be paid to the Vendor no later than one hundred and eighty (180) days after the Closing Date (as defined below) or at such time when the Assets become operational, whichever is sooner.

	3.	
Inspection. Purchaser shall have opportunity to inspect the Assets on or before the Escrow Funding Date .

	4.	
Release of Escrow. The Escrow Funds shall be released from escrow to Vendor at such time when the Assets are retrieved by Purchaser from its present location municipally known as 191 Superior Blvd, in the City of Mississauga, Ontario L5T 2L6 (the "Closing Date"). Purchaser shall send written notice to the Vendor advising of such date and time when the Assets are retrieved in full, and Vendor shall inspect the premises to confirm same. Notwithstanding, the Closing Date shall be no more than seven days (7) days from the Escrow Funding Date. If no written notice by Purchaser is sent to Vendor advising of retrieval or if Assets are not physically retrieved within seven (7) days of the Escrow Funding Date then on the eighth (8) day all Escrow Funds shall be released to the Vendor.

	5.	
Warranty. Vendor hereby transfers and assigns to Purchaser any and all warranties with respect to the Assets provided by Bitmain to Vendor in connection with its original purchase of the Assets, and Vendor provides the Purchaser with full benefit of the warranty over the assets provided by Bitmain as published by Bitmain online.  Vendor is the true and lawful owner, and has good title to, all of the Assets, free and clear of all encumbrances.  The Assets owned are in good operating condition and repair and are adequate for the uses to which they are being put, ordinary wear and tear excepted.  As of the Escrow Funding Date, there will be no restrictions on the Purchaser's right or ability to modify, relocate, or dispose of the Assets as the Purchaser sees fit..

	6.	
Title. All right, title and interest to the Assets shall pass to Purchaser on the Closing Date by operation of law.

	7.	
Risk of Loss. All risk of loss with respect to the Assets shall remain with Vendor until the Closing Date.

	8.	
Duty to Insure. Vendor shall adequately insure the Assets against loss or damage by insurable hazards to at least equal to that of the Purchase Price until the Closing Date.

 

 

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	9.	
No taxable supply. It is acknowledged and understood that the Assets are a taxable supply under the Excise Tax Act, RSC 1985 C E-15 (the "ETA"), however will not be subject to excise tax of GST/HST under the ETA pursuant to Schedule VI (Subsection 123(1)), Part V as an exempt supply of goods for export. Purchaser confirms that upon taking title to the Assets, the Assets will immediately be exported from Canada. If Assets remain in Canada, and excise taxes under the ETA become exigible, Purchaser shall be wholly responsible for same.

	10.	
Representations and Warranties of Vendor:

Vendor hereby makes the following representations and warranties, as of the date hereof, to and in favour of Purchaser, and acknowledges that Purchaser is relying upon such representations and warranties in connection with entering into this Agreement:

10.1 Incorporation and Corporate Power of Vendor. Vendor is a corporation incorporated, organized, validly subsisting and in good standing under the laws of the jurisdiction of its incorporation. Vendor has all requisite corporate power, authority and capacity to carry on its business as presently conducted and to execute and deliver this Agreement and all other agreements and instruments to be executed by it as contemplated herein and to perform its other obligations hereunder and under all such other agreements and instruments contemplated herein. Vendor has the corporate power, authority and capacity to own and dispose of the Assets to Purchaser.

10.2 Authorization by Vendor. The execution and delivery of this Agreement and all other agreements and instruments to be executed by it as contemplated herein and the completion of the transactions contemplated hereby and thereby have been duly authorized by all necessary corporate action on the part of Vendor and no further corporate action is required to be taken by the directors or shareholders to authorize the completion of the transactions contemplated herein.

10.3 Title to Assets. Vendor has good and marketable legal and beneficial title to the Assets, in each case, which will be free and clear of any and all liens and encumbrances.  There is no agreement, option or other right or privilege outstanding in favour of any Person for the purchase from Vendor of the Assets or any part thereof.

10.4 Regulatory Approvals. No regulatory approval or filing with, notice to, or waiver from any governmental authority is required to be obtained or made by Vendor: (a) in connection with the execution and delivery of, and performance by Vendor of its obligations under, this Agreement or the consummation of the transactions contemplated hereby; (b) to transfer any and all rights and benefits thereunder to Purchaser; or (c) to the knowledge of the Vendor, to permit the Purchaser to operate the Assets as contemplated.

10.5 Absence of Conflicting Agreements. The execution, delivery and performance of this Agreement by Vendor and the completion of the transactions contemplated by this Agreement do not and will not result in or constitute any of the following:

 

 

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		i.	
a default, breach or violation or an event that, with notice or lapse of time or both, would be a default, breach or violation of any of the terms, conditions or provisions of the articles or by-laws of Vendor;

		ii.	
an event which, pursuant to the terms of any contract or licence, would cause any right or interest of Vendor to come to an end or be amended in any way that is detrimental to the Assets or the business of Purchaser;

		iii.	
the violation of any applicable law.

10.6 Intellectual Property.  The Assets do not violate or infringe the intellectual property of any third party and Purchaser will have all rights to intellectual property (without the need to make any payments in connection therewith) required to operate the Assets in the manner currently contemplated.

10.7 Warranty Matters.  There have not been any warranty claims made against Vendor in respect of its business or sales of miners or for which Vendor was responsible in the 24 months prior to the date hereof.

	11.	
Representations and Warranties of Purchaser:

Purchaser hereby makes the following representations and warranties, as of the date hereof, to and in favour of Vendor, and acknowledges that Vendor is relying upon such representations and warranties in connection with entering into this Agreement:

11.1 Incorporation and Corporate Power. Purchaser is a corporation incorporated and organized and subsisting under the laws of the jurisdiction of its incorporation. Purchaser has the corporate power, authority and capacity to execute and deliver this Agreement and Purchaser as the requisite funds to satisfy the payment of the Purchase Price and has the authority to execute and deliver all other agreements and instruments to be executed by it as contemplated herein and to perform its obligations under this Agreement and under all such other agreements and instruments.

11.2 Authorization by Purchaser. The execution and delivery of this Agreement and all other agreements and instruments to be executed by it as contemplated herein and the completion of the transactions contemplated by this Agreement and all such other agreements and instruments have been duly authorized by all necessary corporate action on the part of Purchaser.

	11.3	
Enforceability of Obligations. This Agreement constitutes a valid and binding obligation of Purchaser enforceable against Purchaser in accordance with its terms.

11.4 Absence of Conflicting Agreements. The execution, delivery and performance of this Agreement by Purchaser and the completion of the transactions contemplated by this Agreement do not and will not result in or constitute any of the following:

		i.	
a default, breach or violation or an event that, with notice or lapse of time or both, would be a default, breach or violation of any of the terms, conditions or provisions of the articles or by-laws of Purchaser; or

		ii.	
the violation of any applicable law.

 

 

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12.      General.

	 	
a.

	
Confidentiality.  The parties shall hold in strictest confidence any information and material which is related to either Purchaser or Vendor's business or is designated by either Purchaser or Vendor as proprietary and confidential, herein or otherwise.  Vendor further covenants not to disclose or otherwise make known to any Party nor to issue or release for publication any articles or advertising or publicity matter relating to this Agreement in which the name of Purchaser or any of its affiliates is mentioned or used, directly or indirectly, unless prior written consent is granted by the other party; provided, however, that the Purchaser shall be entitled to make any disclosures required by it as a public company under applicable law, regulation or stock exchange rule without any consent of Vendor, including the filing of this Agreement as an exhibit thereto.

 

	 	
b.

	
Force Majeure. Any delay or failure of Vendor to perform its obligations under this Agreement will be excused to the extent that the delay or failure was caused directly by an event beyond the Vendor's control, without the Vendor's fault or negligence and that by its nature could not have been foreseen by the Vendor or, if it could have been foreseen, was unavoidable (which events may include natural disasters, embargoes, explosions, riots, wars, acts of terrorism, strikes, labour stoppages or slowdowns or other industrial disturbances, and shortage of adequate power or transportation facilities).

 

	 	
c.

	
Notices.  All notices and other communications pertaining to this Agreement shall be in writing and shall be deemed duly to have been given if personally delivered to the other Party or if sent by certified mail, return receipt requested, postage prepaid or by Federal Express, United Parcel or other nationally recognized overnight carrier. All notices or communications between Purchaser and Vendor pertaining to this Agreement shall be addressed to the Vendor at: joekalfa@gmail.com and to the Purchaser at john@riotblockchain.com. Either Party may change its notification address by giving written notice to that effect to the other Party in the manner provided herein.

 

	 	
d.

	
Waiver.  Any waiver by either Party of a breach of any provision of this Agreement shall not operate as or be construed to be a waiver of any other breach of such provision or of any breach of any other provision of this Agreement.  The failure of a Party to insist upon strict adherence to any term of this Agreement on one or more occasions shall neither be considered a waiver nor deprive that Party of any right thereafter to insist upon strict adherence to that term or any other term of this Agreement.  Any waiver must be in writing and signed by the Party to be charged therewith.

 

	 	
e.

	
Modifications.  No revision or modification of this Agreement shall be effective unless in writing and executed by authorized representative of both parties.

 

 

 

 

 

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f.

	
Assignment.  Neither party shall assign, transfer, delegate or subcontract any of its rights or obligations under this Agreement without the prior written consent of the other party. Any purported assignment or delegation in violation of this Section shall be null and void. No assignment or delegation shall relieve the other party of any of its obligations hereunder.

 

	 	
g.

	
Severability.  If any portion of this Agreement is held invalid, such invalidity shall not affect the validity of the remaining portions of the Agreement, and the parties will substitute for any such invalid portion hereof a provision which best approximates the effect and intent of the invalid provision.

 

	 	
h.

	
Construction and Jurisdiction.  This Agreement, the legal relations between the parties and any action, whether contractual or non-contractual, instituted by any party with respect to any matter arising between the parties, including but not limited to matters arising under or in connection with this Agreement, such as the negotiation, execution, interpretation, coverage, scope, performance, breach, termination, validity, or enforceability of this Agreement, shall be governed by and construed in accordance with the internal laws of the State of New York without reference to principles of conflicts of laws.  The parties hereto hereby irrevocably submit to the exclusive jurisdiction of the courts of the State of New York and the Federal Courts of the United States of America located within the Eastern or Southern District of New York with respect to any matter arising between the parties, and hereby waive, and agree not to assert, as a defense in any action, suit or proceeding for the interpretation or enforcement hereof or thereof, that it is not subject thereto or that such action, suit or proceeding may not be brought or is not maintainable in said courts or that the venue thereof may not be appropriate or that this Agreement or any such document may not be enforced in or by such courts, and the parties hereto irrevocably agree that all claims with respect to such action or proceeding shall be heard and determined in such a New York State or Federal court.  The parties hereby consent to and grant any such court jurisdiction over the person of such parties and over the subject matter of such dispute and agree that mailing of process or other papers in connection with any such action or proceeding in any manner as may be permitted by applicable law, shall be valid and sufficient service thereof. With respect to any particular action, suit or proceeding arising between the parties, including but not limited to matters arising under or in connection with this Agreement, venue shall lie solely in any New York County or any Federal Court of the United States of America sitting in the Eastern or Southern District of New York.  The prevailing party in any dispute arising out of this Agreement shall be entitled to his or its reasonable attorney's fees and costs.

 

	 	
i.

	
Headings.  The paragraph titles of this Agreement are for conveniences only and shall not define or limit any of the provisions hereof.

 

	 	
j.

	
Entire Agreement.  This Agreement, all schedules attached hereto and the Escrow Agreement, is intended as the complete and exclusive statement of the agreement between Purchaser and Vendor with respect to the subject matter hereof, and supersede all prior agreements and negotiations related thereto.

 

 

 

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k.

	
Binding Effect.  The provisions hereof shall be binding upon and shall inure to the benefit of Purchaser and Vendor, their respective successors, and permitted assigns.

 

	 	
1.

	
Counterparts.  Provided that all parties hereto execute a copy of this Agreement, this Agreement may be executed in counterparts, each of which shall be deemed an original and all of which together shall constitute one and the same instrument.  Executed copies of this Agreement may be delivered by facsimile transmission or other comparable means.  This Agreement shall be deemed fully executed and entered into on the date of execution by the last signatory required hereby.

[SIGNATURES APPEAR ON FOLLOWING PAGES AND ARE SIGNED IN COUNTERPART]

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the date first written above by their respective officers thereunto duly authorized.

By the Purchaser

RIOT BLOCKCHAIN, INC.

Per: __________________________

Name:  John O'Rourke

Title:

I have authority to bind the corporation

By the Vendor

BLOCKCHAIN MINING SUPPLY &

SERVICES LTD.

Per: __________________________

Name:  Joe (Yonah) Kalfa

Title:    President

I have authority to bind the corporation

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Schedule "A"

 

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EXHIBIT A

ESCROW AGREEMENT

  

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