Document:

Exhibit 10.1

Exhibit 10.1

EIGHTH AMENDMENT TO LEASE AND DEVELOPMENT AGREEMENT

This EIGHTH AMENDMENT TO LEASE AND DEVELOPMENT AGREEMENT (the “Amendment”) is made and entered
into this 15th day of September, 2011 by and between the ST. LOUIS COUNTY PORT
AUTHORITY, a public body corporate and politic of the State of Missouri (the “Landlord”) and
PINNACLE ENTERTAINMENT, INC., a Delaware corporation (the “Tenant.”)

RECITALS

A. Landlord and Tenant entered into a Lease and Development Agreement dated as of August 12,
2004, as amended by letter agreement of even date, letter agreement dated October 4, 2005, Second
Amendment to Lease and Development Agreement dated October 28, 2005 (the “Second Amendment”), Third
Amendment to Lease and Development Agreement dated August 11, 2006 (the “Third Amendment”), Fourth
Amendment to Lease and Development Agreement dated January 18, 2007 (the “Fourth Amendment”), and
as further amended by Fifth Amendment to Lease and Development Agreement dated March 30, 2007 (the
“Fifth Amendment”), and as further amended by Sixth Amendment to Lease and Development Agreement
dated November 26, 2007 (the “Sixth Amendment “), and as further amended by Seventh Amendment to
Lease and Development Agreement dated February 19, 2010 (the “Seventh Amendment”) (collectively,
the “Lease and Development Agreement”) which governs among other things the development of the
Property.

B. The Landlord and Tenant desire to amend the Lease and Development Agreement to (a)
eliminate the requirement that Tenant construct a hatch shell on the Park Property, (b) amend the
description of the improvements to be constructed by Tenant during Phase II of the Project (c)
amend the deadline for completion of Phase II of the Project, (d) include provisions related to the
formation of a Community Improvement District and a Transportation Development District or a Port
Improvement District; and (e) make certain other changes to the Lease and Development Agreement.

C. Capitalized terms used herein and not otherwise defined, or redefined as the case may be,
shall have the meanings ascribed to them in the Lease and Development Agreement.

 

 

NOW, THEREFORE, in consideration of the mutual covenants and agreements of the parties
contained herein, Landlord and Tenant agree to amend the Lease and Development Agreement as
follows:

1. Section 4 is amended as follows:

a. The language added after the caption “Project Construction and Development” shall
be amended and restated as follows:

“The Tenant shall at its sole cost and expense, undertake a two phase project for an
aggregate investment of at least $450,000,000. “Phase I of the Project” shall mean the (i)
development, construction and operation of the Gaming Facilities on the Property which shall
mean a minimum 90,000 square foot casino containing not less than 2000 slots and 50 table
games, three restaurants, a gift shop and parking sufficient to service the aforesaid
facilities (the “Gaming Facilities”), (ii) the Environmental Remediation of the Landlord’s
Property and the Known Conditions of the Access Road Property, (iii) a contribution by
Tenant in the amount of $5,100,000 to the Landlord, or such other party as is designated by
Landlord, for the construction of the community/aquatic center and the soccer fields; and
(iv)the development and construction of the Project Roadway, including replacement of the
Weber Road Bridge (hereinafter defined). Tenant has completed Phase I of the Project with a
total investment of not less than $375,000,000. “Phase II of the Project” shall mean the
development and construction on the Property of: (i) a hotel with a minimum of 200 rooms
with lobby; (ii) a meeting room/event space of not less than 10,000 square feet that is
adjacent to the hotel with a capacity of at least 500 guests with sit-down tables or 750
guests in the absence of tables; and (ii) a parking garage with a minimum of 1600 spaces.
Tenant intends to make a total investment of not less than $78,000,000 on Phase II of the
Project. Phase I and Phase II of the Project are collectively called the “Project”.”

A new Exhibit C to the Lease and Development Agreement is substituted entitled “Essential
Elements”, which is attached to hereto as Exhibit 1.

b. Section 4(h) is amended and restated as follows:

“Community Facilities. Tenant’s right and obligation to construct the hatch shell on the
Park Property are eliminated and Tenant shall have no rights with respect to the use and
development of the Park Property other than the rights provided in section 4(x) and the right of
access through the Park Property provided in the Access Easement recorded at Book 18915 Page 2072
of St. Louis County Recorder of Deeds. Tenant shall not be subject to any liquidated damages or
penalty, financial or otherwise, as a result of the hatch shell not being constructed. Landlord
acknowledges that Tenant has satisfied all of its obligations under this Section 4(h).”

 

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c. Section 4(i) is amended and restated as follows:

“Phase II of the Project. Within thirty (30) calendar days of the execution of this
Amendment, Tenant shall provide Landlord with a timetable including milestones for the completion
of all material elements of Phase II of the Project. Tenant, at Tenant’s sole cost and expense,
shall achieve substantial completion of Phase II of the Project by October 31, 2013.Tenant shall
have the right, in Tenant’s discretion, to engage any one or more third party developers,
contractors, or other qualified person or corporation to develop, construct or operate all or any
portion of Phase II of the Project. In the event Tenant fails to achieve substantial completion of
Phase II by October 31, 2013, Tenant shall pay to Landlord additional payment or payments in the
amounts set forth below on November 1 of each year (or prorated if less than a year), commencing on
November 1, 2013 until such time as Tenant has met its obligations with respect to Phase II or
paid a total amount of $20,000,000 to the Landlord, which sums will be collected by Landlord as
liquidated damages and not as penalty and in such event, the Landlord shall not have any other
rights or remedies against Tenant with respect to Tenant’s failure to open and operate Phase II of
the Project; provided however, that if the Lease shall be terminated by Tenant pursuant to the
provisions of Section 24 after any such annual payments have been paid or have become due and
payable, then Landlord’s recovery of amounts due for failure to open and operate Phase II of the
Project, in addition to any payments due under Section 24, shall be limited, effective as of the
date this Lease is terminated, to the greater of $12,000,000 or the total amount theretofore paid
or due Landlord pursuant to this subsection (i).

	 	 	 	 	 
	Year one
	 	$	2,000,000	 
	Year two
	 	$	3,000,000	 
	Year three
	 	$	4,000,000	 
	Year four
	 	$	5,000,000	 
	Year five
	 	$	6,000,000	 

Notwithstanding the foregoing, in the event Tenant fails to achieve substantial completion of Phase
II of the Project by October 31, 2013 due to fire, labor disputes, adverse weather conditions,
unavoidable casualties or other causes which are unforeseeable and beyond the Tenant’s reasonable
control (“Force Majeure Event”), then Tenant shall not be subject to the liquidated damages set
forth in this section to the extent and for so long as such failure is the result of a Force
Majeure Event.”

 

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d. Section 4(k) is amended and restated as follows:

“Improvement Districts. At the request of Landlord, Tenant shall reasonably cooperate with
Landlord to form a Community Improvement District (CID) as authorized pursuant to Sections 67.1401
to 67.1571 of the Revised Statutes of Missouri, a Transportation Development District (TDD) as
authorized pursuant to Sections 238.200 to 238.275 of the Revised Statutes of Missouri, or a Port
Improvement District (PID) as authorized pursuant to Sections 68.200 to 68.260 of the Revised
Statutes of Missouri, or any combination thereof, (collectively, the “Taxing Districts”), which
includes the Project, subject to Tenant and Landlord’s agreement to the following:

a.
the governance of the proposed Taxing District(s);

b. the boundaries of the proposed Taxing District(s);

c. the funding mechanism, source of tax, and objectives of the proposed Taxing
District(s); and

d. the use of funds of the proposed Taxing District(s).

Notwithstanding the foregoing, Tenant and Landlord agree that: (i) the Taxing District(s) shall not
impose an aggregate sales tax rate applicable to Tenant that exceeds 8.75% when combined with all
other sales tax rates that apply to the Project (provided that such maximum rate shall be increased
or decreased in the event (and to the extent) of any increase or decrease in either the Missouri
state-wide sales tax rate or the St. Louis County county-wide sales tax rate currently applicable
to Tenant); (ii) Tenant shall support and accept Landlord’s proposal with respect to the formation
of any proposed Taxing District(s) and the itemized issues set forth in ‘a’ through ‘d’ above as
long as (x) the objectives and use of funds of any proposed Taxing District(s) are reasonably
calculated to benefit the Lemay community or any segment thereof, and (y) the formation, governance
or implementation of any such Taxing District(s) does not conflict with or otherwise unreasonably
impair Tenant’s business operations or the Project (except for the legitimate sales tax burden
imposed by any proposed Taxing District(s)); (iii) the formation of the Tax District(s) will not
result in any additional costs to Tenant, in terms of increased sales or other tax, directly
related to the construction of Phase II of the Project; and (vi) the formation of the Tax District
will not result in increased property taxes on the Property or the improvements thereon.”

e. Section 4(l) is hereby deleted in its entirety.

2. Section 29 is amended to substitute the following notice addresses for Tenant:

Pinnacle Entertainment, Inc.,

8919 Spanish Ridge Avenue

Las Vegas, Nevada 89148

Attention: John A. Godfrey, Executive Vice President and General Counsel

Copies to Lathrop & Gage, LLP

Pierre Laclede Center

7701 Forsyth Boulevard, Suite 400

St. Louis, MO 63105

Attn: Jerry Riffel

 

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3. The parties hereto agree that the legal description of the Property is the legal
description as reflected in that Correction to Memorandum of Lease recorded in the office of the
Recorder of Deeds of St. Louis County, Missouri on August 20, 2010, as Instrument No. 00859, at
Book 19071, Page 3997, and is the legal description attached hereto as Exhibit 2.

4. Except as modified and amended by this Agreement, the Lease and Development Agreement shall
remain in full force and effect in accordance with its terms. Unless the context otherwise
indicates, all other terms and conditions of the Lease and Development Agreement which are the same
as or directly related to the revised terms and conditions set out in this Agreement are similarly
modified to be consistent with this Amendment. The provisions of this Amendment shall inure to the
benefit of and be binding upon the parties hereto, their successors and assigns.

5. If there is a conflict between the Lease and Development Agreement and this Eighth
Amendment, the Eighth Amendment shall control.

6. This Amendment may be executed in counterparts.

IN WITNESS WHEROF, the undersigned have set their hands and seals as of the date first written
above.

	 	 	 	 	 
	 	LANDLORD:

ST. LOUIS COUNTY PORT AUTHORITY

 	 
	 	By:  	/s/
Dennis G. Coleman	 
	 	 	Name:  	Dennis G. Coleman	 
	 	 	Title:  	Executive Director	 
	 
	 	TENANT:

PINNACLE ENTERTAINMENT, INC.

 	 
	 	By:  	/s/ Anthony Sanfilippo
 	 
	 	 	Name:  	Anthony Sanfilippo 	 
	 	 	Title:  	President and Chief Executive
Officer 	 
	 

 

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Exhibit 1

EXHIBIT C

Essential Elements

PINNACLE ENTERTAINMENT, INC. COMMITMENT  

	 	 	 
	Phase
I
	 	 
	 
	 	 
	Minimum Investment:

	 	$375 million
	 
	 	 
	Elements Included:

	 	- 90,000 sq. ft. casino, containing not less than 2,000 slots and 50 tables
	 
	 	 
	 

	 	- 3 restaurants
	 
	 	 
	 

	 	- parking sufficient to serve aforesaid facilities
	 
	 	 
	 

	 	- Connector road from I-55 into the property, including Weber bridge replacement
	 
	 	 
	 

	 	- Environmental Remediation of Landlord Property (80 acre parcel) and the Known Conditions of
the Access Road Property
	 
	 	 
	 

	 	- $5.1 million contribution for community/aquatic center and baseball and soccer fields
	 
	 	 
	Phase II
	 	 
	 
	 	 
	Minimum Investment:

	 	$75 million
	 
	 	 
	 

	 	Elements Included:- Hotel with minimum of 200 rooms with a lobby and
adjacent meeting room/event space of no less than 10,000 square feet
with a capacity of at least 500 guests with sit-down tables or 750
guests in the absence of tables
	 
	 	 
	 

	 	- parking garage with a minimum of 1,600 parking spaces

 

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Exhibit 2

LEGAL DESCRIPTION OF
PROPERTY

Exhibit A

Parcel No 1:

Part of Blocks 1 and 2 of ALLEN’S
SUBDIVISION in the CHOUQUETTE TRACT in U.S. Survey 904, Township 44 North,
Range 7 East, St. Louis County, Missouri and being more particularly described
as follows:

Beginning at the Southwest corner of
property described as Tract No. 3, in deed to the National Lead Company,
recorded in Book 2269, Page 137, St. Louis County Recorder’s office,
being in the Eastern line of the Missouri Pacific Railroad Company,
right-of-way, 80 feet wide; thence North 1 degree 15 minutes East 796.50 feet
along the Western line of said National Lead Company property, and along the
Eastern line of said Missouri Pacific Railroad Company, right-of-way, to the
Northwestern corner of said National Lead Company property, in the Southern
line of East Arlee Avenue, 30 feet wide; thence North 89 degrees 59 minutes
East 136.04 feet along the Northern line of said National Lead Company
property, and along the Southern line of said East Arlee Avenue, to the
Northeastern line of said National Lead Company property; thence South 37 degrees
49 minutes East 14.83 feet along the Northeastern line of said National
Lead Company property, to the Western line of property described as Tract
No. 1, in said deed to the National Lead Company, recorded in said Book
2269, Page 137; thence North 22 degrees 11 minutes East 437.86 feet,
North 29 degrees 07 minutes East 453.32 feet, and North 41 degrees
11 minutes East 475.93 feet along the Western line of said property described as Tract
No. 1 in said deed to the National Lead Company, to its Northwestern
corner, being also the Southwestern corner of property described in deed to the
National Lead Company, recorded in Book 2667, Page 100, St. Louis County
Recorder’s Office; thence North 28 degrees 45 minutes
East 547.90 feet
along the Western line of said property described in deed to the National Lead
Company, recorded in said Book 2667, Page 190, to its intersection with the
Western line of property described in deed to the National Lead Company,
recorded in Book 3727, Page 1, St. Louis County Recorder’s Office; thence
North 7 degrees 41 minutes East 270.57 feet, North 33 degrees 14 minutes East
412.29 feet, and North 45 degrees 39 minutes East 308.34 feet along the Western
line of said property described in deed to the National Lead Company, recorded
in said Book 3727, Page 1, to its most Northern corner, being also the
Northwestern corner of property described in deed to the National Lead Company,
recorded in Book 1672, Page 509, and re-recorded in the Deed of Correction, in
Book 1701, Page 501, St. Louis County Recorder’s Office; thence South
58 degrees 00 minutes East 67.16 feet along the Northern line of said National
Lead Company property, described in deed re-recorded in said Book 1701, Page
501, to its Northeastern corner, being in the Western line of property
described in deed to National Pigments & Chemical Company, recorded in Book
1238, Page 99, St. Louis County Recorder’s Office; thence North
32 degrees 00 minutes East 346.52 feet, and North 40 degrees 59 minutes East 69.47
feet along the Western line of said National Pigments & Chemical Company
property, to its Northwestern corner in the Southern line of the River Des
Peres Drainage Works, right-of-way, 280 feet wide; thence South 50 degrees 01
minutes 30 seconds East 675 feet, more or less, along the Northern line of said
National Pigments & Chemical Company property, and along the Southern line
of said River Des Peres Drainage Works, right-of-way, to the Mississippi River;
thence Southwardly 3800 feet, more or less, along the Mississippi River, to the
Southern line of said property described as Tract No. 3 in deed to the
National Lead Company, recorded in said Book 2269, Page 137; thence North 67
degrees 49 minutes West 735 feet, more or less, and North 90 degrees 00 minutes
West 112.19 feet along the Southern line of said property described as Tract
No. 3, to its Southwestern corner in the Eastern line of said Missouri
Pacific Railroad Company, right-of-way, and the point of beginning, according
to survey executed by Pitzman’s Co. Surveyors & Engineers during the
month of June 1987.

Parcel No. 2:

Easement for ingress and egress for the
benefit of the land described herein as Parcel No. 1 as created and
established by General Warranty Deed and Agreement, dated July 19, 1923,
executed by and between Casper P. De Lore and Amalia De Lore, his wife, and
Titanium Pigment Company, Inc., recorded July 26, 1923 in book 607 Page 98,
as confirmed and affected by instrument recorded August 16, 1933 in
Book 1238 Page 99.

Parcel No. 3:

Easement for ingress and egress for the
benefit of the land described herein as Parcel No. 1 as created and
established by City of St. Louis Ordinance No. 40034, approved
April 12, 1933 and Grant of Easements, dated as of August 1, 1933,
executed by and between Casper P. De Lore, otherwise known and designated as
C.P. De Lore and Amalia De Lore, his wife and National Pigments & Chemical
Company, recorded August 18, 1933 in Book 1255 Page 96.

Less and Excepting

Lot 2 of River City Casino subdivision
as reflected on subdivision plat prepared by David Mason & Associates
recorded with the St. Louis County Recorder of Deeds on November 19, 2009
as instrument 200911190063 in Plat Book 357, Pages 445-447.

 

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Exhibit 10.1

 

 

ASSET PURCHASE AGREEMENT

 

THIS ASSET PURCHASE AGREEMENT (this "Agreement"), made this 13th day of September, 2011 (the "Effective Date") by and between GAME PLAN HOLDINGS, INC., a corporation organized and existing under the laws of the state of Nevada (hereinafter the "Company") and VANTAGE ASSETS HOLDINGS, LTD., a British Virgin Islands corporation (hereinafter referred to as a "Seller"). The Company and Seller shall each separately be referred to as a "Party" and collectively as the "Parties."

 

WHEREAS, Seller own all right, title and interest in the www.checkinsave.corn website (the "Website") and the associated business plan and intellectual property; and

 

WHEREAS, Seller and the Company wish to enter this Agreement so the Company may acquire all right, title and interest in the Website and the associated business plan and intellectual property and the Company may launch the Website with the assistance of Seller.

 

NOW, THEREFORE, in consideration of the mutual covenants and obligations contained herein, the sufficiency of which are hereby acknowledged, the Parties agree as follows:

 

AGREEMENT

 

SECTION 1.     Definitions

 

In this Agreement:

 

1.1     "Breach" means a breach of a representation, warranty, covenant, obligation, or other provision of this Agreement or any instrument delivered pursuant hereto, and will be deemed to have occurred if there is or has been (a) any inaccuracy in, or breach of, or any failure to perform, or comply with such representation, warranty, covenant, obligation, or other provision, or (b) any claim (by any Person (as hereinafter defined)) or other occurrence or circumstance that is or was inconsistent with such representation, warranty, covenant, obligation, or other provision, and the term "Breach" means any such inaccuracy, breach,
failure, claim, occurrence, or circumstance.

 

1.2     "Encumbrance" means any charge, claim, community property interest, condition, equitable interest, lien, option, pledge, security interest, right of first refusal, or restriction of any kind, including any restriction on use, voting, transfer, receipt of income, or exercise of any other attribute of ownership.

 

1.3     "Governmental Body" means any national, federal, state or local governmental, judicial or regulatory agency, authority or body within or outside the United States.

  

 

1.4     "Indemnified Person" shall mean the Person who is entitled to indemnification under the terms of this Agreement.

 

 

 

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1.5     "Legal Requirement" means any federal, state, local, municipal, foreign, international, multinational, judgment or other administrative order, decree, constitution, law, ordinance, principle of common law, rule, regulation, statute, or treaty.

 

1.6      "Person" means any individual, corporation (including any non-profit corporation), general or limited partnership, limited liability company, joint venture, estate, buyer, association, organization, labor union, or other entity or governmental body.

 

1.7     "Proceeding" means any action, arbitration, audit, hearing, investigation, litigation,  or suit (whether civil, criminal, administrative, investigative, or informal) commenced, brought, conducted, or heard by or before, or otherwise involving, any Governmental Body or arbitrator.

 

1.8     "Tax" means any net income, gross income, gross receipts, sales, use, ad valorem, franchise, profits, license, excise, severance, stamp, occupation, premium, property or windfall profit tax, custom duty or other tax, governmental fee or other like assessment or charge of any kind whatsoever, together with any interest and any penalty, addition to tax or additional amount imposed by any taxing authority (whether domestic or foreign).

 

1.9     "Tax Return" means any return (including any information return), report, statement, schedule, notice, form, or other document or information filed with, or submitted to, or required to be filed with or submitted to, any Governmental Body in connection with the determination, assessment, collection, or payment of any Tax or in connection with the administration, implementation, or enforcement of, or compliance with, any Legal Requirement relating to any Tax.

 

SECTION 2.      Purchase and Sale

 

2.1     Sale of the Assets. Seller hereby sells to the Company and the Company hereby   purchases from the Seller any and all right, title and interest to the assets utilized in conducting the Seller's business associated with the Website including, but not limited to, the assets described in Schedule A, as attached hereto and incorporated by reference herein (the "Assets"). The Company will assume the
obligations and liabilities related to the Assets only as disclosed on Schedule B, as attached hereto and incorporated by reference herein.

 

2.2          Purchase Price. In consideration for the aforementioned:

 

(a)           Upon launch of the website ("Website Launch"), the Company shall issue to Seller 500,000 shares of restricted common stock of the Company (the "Initial, Stock"), which Initial Stock shall be free trading after six months pursuant to the laws and regulations of the Securities and Exchange Commission. For the purposes of this Agreement, Website Launch shall mean the Website is live and accessible to the public and Website users have the ability to register on the Website;

 

(b)           In the event the Company achieves the "Performance Criteria" (as hereinafter defined), the Company shall issue to Seller 500,000 shares of restricted common stock of the Company (the "Performance Stock"). The term Performance Criteria shall mean:

 

 

  

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(i)           For purposes of this definition of Performance Criteria: (A)

 

"Registered Users" shall mean a Person who has registered on the Website by providing basic contact information and who has accessed the Website on at least one additional occasion (other than the initial input of contact information); and (B) Registered Venues shall mean participating partners (typically retail or restaurant establishments) who have signed an agreement with the Company to provide and honor points distributed over the Website's system.

 

(ii)           It is understood that the Company shall initially focus its marketing efforts on major metropolitan areas. The Performance Criteria shall be deemed to have been met upon the Website signing up 20,000 Registered Users and 100 Registered Venues in five major metropolitan areas.

 

(c)     The Company shall issue 500,000 shares of restricted common stock of the Company and pay to Seller 10% of the consideration paid if the Company successfully completes a sale of the Website during the three-year period of time following the date of this Agreement (the "Change in Control Stock").

 

2.3     Development. Seller's founders, Jordan Brill and Matthew Housser, shall provide continued support in the development, marketing and launch of the Website. The Company shall enter into consulting agreements with Mr. Brill (the "Brill Consulting Agreement") and Mr. Housser (the "Housser Consulting Agreement") whereby Mr. Brill and Mr. Housser will each be hired for the position of co-Chief Technical Officer on an independent contractor basis.

 

2.4     Forfeiture of Rights. In the event that either Mr. Brill or Mr. Housser cease to provide support for the development, marketing, launch and maintenance of the Website prior to a successful completion of the sale of the Website, or if either Mr. Brill or Mr. Housser or both of them breach any of the covenants, conditions or representations herein, he or they will forfeit all rights to the Performance Stock and the Change in Control Stock (unless otherwise previously issued).

 

SECTION 3.      Conditions to Closing

 

3.1     Time and Place. The closing of the transactions contemplated by this Agreement  (the "Closing") shall take place upon execution of this Agreement and the completion of conditions to closing (the "Closing Date").

 

3.2     Shareholder Approval. As a condition to Closing, the Company and Seller will each obtain the requisite shareholder approval and ratification of this Agreement.

 

3.3     Deliveries. At the Closing:

 

3.3.1 Seller shall deliver to the Company:

 

(a)          A copy of this Agreement executed by the Seller;

 

(b)        All Assets set forth in Schedule A; and

 

 

  

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(c)           Such other documents and instruments as the Company may reasonably request to effectuate the Closing and any other transactions contemplated hereby.

 

3.3.2 The Company will deliver to Seller:

 

(a)           A. copy of this Agreement executed by the Company;

 

(b)           The stock certificates evidencing the issuance of the Initial Stock;

 

(c)           Such other documents and instruments as the Seller may reasonably request to effectuate the Closing and/or any other transactions contemplated hereby;

 

(d.)           The Brill Consulting Agreement, fully executed; and

 

(e)           The Houser Consulting Agreement, fully executed.

 

SECTION 4. Representations and Warranties of the Seller

 

By affixing their signatures below, the Seller hereby represents and warrants to the Company, as a material inducement to the Company's entry into this Agreement, as follows:

 

4.1           Title to Assets. The Seller is the lawful and beneficial owners of the Assets and the Seller has good and marketable title thereto, and the delivery of the Assets by the Seller to the Company pursuant to this Agreement will convey to the Company lawful, valid, and indefeasible title thereto, free and clear of all Encumbrances whatsoever.

 

4.2           Necessary Authority. The Seller has full power and authority to execute and deliver this Agreement and the other agreements contemplated hereby, and to consummate the transactions contemplated hereby and thereby. This Agreement has been duly executed and delivered by the Seller and constitutes the legal, valid and binding obligation of the Seller, enforceable against the Seller in accordance with its terms, except as may be limited by bankruptcy, insolvency, reorganization or other laws affecting the enforcement of creditors' rights generally now or hereafter
in effect, and subject to the availability of equitable remedies.

 

4.3           No Approvals or Conflicts. The execution, delivery and performance of this  Agreement by the Seller, and the consummation of the transactions contemplated hereby, do not and will not:

 

4.3.1      Require the consent or approval of, or filing with, any Person or Governmental Body;

 

4.3.2     Violate any law, regulation, judgment or order binding upon the Seller; or

 

4.3.3     To the best of Seller's knowledge constitute or result in the breach of any provision of, or constitute a default under, any agreement, indenture or other instrument to which the Seller is a party or by which the Seller or its assets may be bound,

 

 

  

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4.4            Completeness of Statements. No representation or warranty of the Seller herein, and no written statement or certificate furnished, or to be furnished, by or on behalf of the Seller to the Company, or its agents pursuant hereto or in connection with the transactions contemplated hereby, contains or will contain on the Closing any untrue statement of a material fact or omits or will omit to state a material fact necessary in light of the circumstances to make the statements contained herein or therein not misleading.

 

4.5            No Bankruptcy, Litigation. There has not been filed any petition or application, or any proceedings commenced, by or against, or with respect to any assets of, the Seller, under Title 11 of the United States Code or any other law, domestic or foreign, relating to bankruptcy, reorganization, compromise, arrangement, insolvency, readjustment of debt or creditors' rights, and the Seller has not made any assignment for the benefit of creditors. The Seller is not a party in any litigation or similar Proceeding.

 

4.6            Brokers' Fees. The Seller has no liability or obligation to pay any fees or commissions to any broker, finder, or agent with respect to the transactions contemplated by this Agreement.

 

4.7            Legal Compliance and Proceedings. The Seller has not received any notice from a Governmental Body alleging that it is not in compliance with all material Legal Requirements associated with the operation of the business and there is no pending Proceeding: (a) that has been commenced by or against the Seller or that otherwise relates to or may affect the business of, or any of the property or assets owned or used by, the Seller; or (b) that challenges, or that may have the effect of preventing, delaying, making illegal,
or otherwise interfering with, any of the transactions contemplated hereunder.

 

4.8            Taxes.

 

4.8.1 The Seller shall be solely responsible for and pay all Taxes applicable to the Seller in relation to the sale of the Assets.

 

4.8.2 The Seller has filed with the appropriate taxing authorities all Tax Returns that it was required to file, which Tax Returns are true, correct and complete in all material respects, and have paid, or made adequate provision for the payment of, all Taxes shown thereon as owing.

 

SECTION 5.      Representations and Warranties of the Company

 

By affixing its signature below, the Company represents and warrants to the Seller, as a material inducement Seller's entry into this Agreement, as follows:

 

5.1          Necessary Authority. The Company has full power and authority to execute and deliver this Agreement and the other agreements contemplated hereby, and to consummate the transactions contemplated hereby and thereby. This Agreement has been duly executed and delivered by the Company and constitutes the legal, valid and binding obligation of the Company, enforceable against the Company in accordance with its terms, except as the same may be limited by bankruptcy, insolvency, reorganization or other laws affecting the
enforcement of creditors' rights generally now or hereafter in effect, and subject to the availability of equitable remedies.

 

 

  

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5.2           No Approvals or Conflicts. The execution, delivery and performance of this Agreement by the Company and the consummation of the transactions contemplated hereby do not and will not:

5.2.1 Require the consent or approval of, or filing with, any person or public authority;

5.2.2 Constitute or result in the Breach of any provision of, or constitute a default Under any agreement, indenture or other instrument to which the Company is a party or by which its assets may be bound; or

 

5.2.3 Violate any law, regulation, judgment or order binding upon the Company.

 

SECTION 6.      Indemnification

 

6.1           Indemnification of Company. The Seller shall indemnify and hold harmless the Company and its representatives, agents, successors and assigns (collectively, the "Indemnified Persons") for, and will promptly pay to the Indemnified Persons the amount of any loss, liability, claim, damage (including incidental and consequential damages), expense (including costs of investigation and defense and reasonable attorneys' fees) or diminution of value, whether or not involving a third-party claim (collectively, "Damages"), arising, directly or indirectly, out of or in
connection with any Breach of this Agreement by the Seller.

 

6.2           Indemnification of Seller. The Company will indemnify and hold harmless the Seller and its Indemnified Persons, and will promptly pay to such Indemnified Persons, the amount of any Damages arising, directly or indirectly, out of or in connection with a Breach of this Agreement by the Company.

 

SECTION 7.      General

 

7.1.           Notice. All notices, demands or other communications given hereunder shall be in writing and shall be deemed to have been duly given on the first business day after mailing by United States registered or certified mail, return receipt requested, postage prepaid, addressed to the addresses given below. The Company or Seller may change their address for purposes of this provision by giving written notice pursuant to the terms of this provision.

 

7.2           Entire Agreement. This Agreement and the Schedules attached hereto constitute the entire agreement among the parties hereto, and no party hereto shall be bound by any communications between them on the subject matter hereof unless such communications are in writing and bear a date contemporaneous with, or subsequent to, the date hereof.

 

7.3           Fees and Costs. Each Party shall be responsible for paying his, her or its own fees and costs in connection with this Agreement, including, but not limited to, his, her or its respective attorneys' fees, accountant fees and consultant fees.

 

 

  

6

  

 

 

7.4           Successors and Assigns. This Agreement shall be binding upon the Parties hereto, their heirs, personal representatives, successors and assigns.

 

7.5           Execution of Counterparts. This Agreement may be executed in one or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same document.

 

7.6           Governing Law; Jurisdiction. This Agreement shall be governed by the internal laws of the State of Nevada, without regard to principles of conflicts of laws. Any dispute arising under or in connection with this Agreement or the other agreements contemplated hereby shall be resolved before the American Arbitration Association, Las Vegas, Nevada.

 

7.7           Amendments and Waivers. No amendment of any provision of this Agreement shall be valid unless the same shall be in writing and signed by the Parties hereto. No waiver by any Party of any default, misrepresentation, or breach of warranty or covenant hereunder, whether intentional or not, shall be deemed to extend to any prior or subsequent default, misrepresentation, or breach of warranty or covenant hereunder or affect in any way any rights arising by virtue of any prior or subsequent such occurrence.

 

7.8           Severability. Any term or provision of this Agreement that is invalid or unenforceable in any situation in any jurisdiction shall not affect the validity or enforceability of the remaining terms and provisions hereof or the validity or enforceability of the offending term or provision in any other situation or in any other jurisdiction.

 

[SIGNATURE PAGE TO FOLLOW]

 

  

7

  

 

IN WITNESS WHEREOF, each of the Parties has executed this Agreement as of the date first set forth above.

 

 

"COMPANY"

 

GAME PLAN HOLDINGS, INC.

A Nevada Corporation

 

By:  /s/ Charles Hazzard

Name:  Charles Hazzard

Title:  President

9/13/11

 

Adress for Notice:

 

______________________

______________________

______________________

 

"SELLER"

 

VANTAGE ASSETS HOLDINGS, INC.

a British Virgin Islands Corporation

 

By:  /s/ Jordan Brill      /s/ Matthew Houser

Name:  Jordan Brill   Matthew Houser

Title:  Co-Founders

 

 

Adress for Notice:

 

 

______________________

______________________

______________________

 

 

 

 

 

  

8

  

 

 

 

SCHEDULE A

 

ASSETS

 

This list of assets is not exhaustive. Any and all assets utilized in connection with the Website, whether included on this list or not, are being purchased by the Company.

 

	
  

	
1.

	
Any and all hardware, software, code base, code and revisions and versioning system contents thereof related to the Website;

	
  

	
2.

	
Any and all design, schemas and structures for the Website;

	
  

	
3.

	
Any and all database content, images and design for the Website;

	
  

	
4.

	
Any and all registered names, domain names, trademarks, copyright and intellectual, property related to the Website;

	
  

	
5.

	
Any and all external accounts with any third party companies, including, but not limited to, Content Delivery Networks, Internet Service Providers and data centers;

	
  

	
6.

	
Any and all know-how of the Seller's founders, including, but not limited to, process, procedure and documentation.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

 

  

 

 

 

 

SCHEDULE B

 

ASSUMED LIABILITIES

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