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Exhibit 10.15    
    

 
 

STOCK PURCHASE AND SALE AGREEMENT    
    

        This Stock Purchase and Sale Agreement (as it may from time to time be amended, this "Agreement"), dated as of
September 6, 2007, is made and entered into by and among LLM Structured Equity Fund L.P., a Delaware limited partnership ("LLM Structured
Equity"), LLM Investors L.P., a Delaware limited partnership ("LLM Investors") and Capital Management Systems, Inc.
("CMS") (each a "Seller" and collectively, the
"Sellers") and James Cahill (the "Buyer"). Certain capitalized terms are defined on Schedule A to
this Agreement. 

RECITALS:  

        WHEREAS, the Sellers collectively own 1,725,000 shares in the aggregate (the
"Shares") of the common stock, par value $0.0001 per share, of Prospect Acquisition Corp., a Delaware corporation (the
"Issuer"); and 

        WHEREAS, on the terms and subject to the conditions set forth in this Agreement, the Sellers wish to sell a number of Shares to the Buyer
in the respective amounts set forth opposite each Seller's name on Schedule B hereto and the Buyer wishes to purchase the Shares from Sellers. 

AGREEMENT:  

        NOW, THEREFORE, in consideration of the premises, representations, warranties and the mutual covenants contained
in this Agreement, and for other good and valuable consideration, the receipt, sufficiency and adequacy of which are hereby acknowledged, the parties hereto, intending legally to be bound, agree as
follows: 

 
 

ARTICLE I.
  PURCHASE OF SHARES    
    

        Section 1.1    Sale of Shares.    Subject to the terms and conditions hereof and in
reliance upon the representations and warranties of the parties contained herein, at the Closing, each Seller shall sell, assign, transfer and deliver the Shares it is selling hereunder to the Buyer,
free and clear of all liens, other than such restrictions as may be imposed pursuant to state or federal securities laws, in consideration of the payment of the Purchase Price noted herein. 

        Section 1.2    Purchase Price.    Subject to the terms and conditions hereof and in
reliance upon the representations and warranties of the parties contained herein, at the Closing, the Buyer shall pay to Sellers by wire transfer or by such other method as may be reasonably
acceptable to the Sellers, in immediately available funds, or by check payable to the seller, in the aggregate amount of One Thousand Two Hundred Fifty Dollars ($1,250.00) (the
"Purchase Price"), in consideration of the sale, assignment, transfer and delivery of the Shares by the Sellers under this Agreement. 

        Section 1.3    Closing.    The closing of the purchase and sale of the Shares (the
"Closing") shall be held on September 7, 2007 (the "Closing Date") at the offices of Bingham
McCutchen LLP, 399 Park Avenue, New York, New York 10022, or such other place as may be agreed upon by the parties hereto. 

        Section 1.4    Closing Deliveries.    At the Closing, each party shall execute and
deliver this Agreement and such other appropriate and customary documents as the other parties reasonably may request for the purpose of consummating the transactions contemplated by this Agreement.
All actions taken at the Closing shall be deemed to have been taken simultaneously. 

        (a)    Buyer Deliveries.    Without limiting the generality of the foregoing, at the Closing the Buyer shall deliver
to each Seller such Seller's respective portion of the Purchase Price. 

        (b)    Seller Deliveries.    Without limiting the generality of the foregoing, at the Closing, or within a reasonable
time after the Closing Date but in no event later than five days after Closing 

 

Date,
the Sellers shall deliver to the Buyer the certificate or certificates representing the Shares purchased by the Buyer, which certificates shall be properly endorsed for transfer or accompanied
by duly executed stock powers. 

        Section 1.5    Further Assurances.    The parties hereto shall execute and deliver such
additional documents and take such additional actions as any party reasonably may deem to be practical and necessary in order to consummate the transactions contemplated by this Agreement. 

 
 

ARTICLE II.
  REPRESENTATIONS AND WARRANTIES OF THE BUYER    
    

        Section 2.1    Power and Authority; Enforceability.    The Buyer hereby represents to
each Seller that, (i) this Agreement constitutes its legal, valid, and binding obligation, enforceable against it in accordance with its terms, (ii) it has full power and authority to
execute and deliver this Agreement and to perform its obligations hereunder, (iii) it has taken all actions necessary to authorize the execution and delivery of this Agreement, the performance
of its obligations hereunder and the consummation of the transactions contemplated hereby, and (iv) this Agreement has been duly authorized, executed and delivered by, and is enforceable
against, it, subject to bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium and other laws of general applicability relating to or affecting creditors' rights and to general
equitable principles (whether considered in a proceeding in equity or law). 

        Section 2.2    No Violation; Necessary Approvals.    The Buyer hereby represents to
each Seller that neither its execution and delivery of this Agreement, nor its consummation or performance of any of transactions contemplated hereby, will: (a) with or without notice or lapse
of time, constitute, create or result in a breach or violation of, default under, loss of benefit or right under or acceleration of performance of any obligation required under any (i) law
(statutory, common or otherwise), constitution, ordinance, rule, regulation, executive order or other similar authority ("Law") enacted, adopted,
promulgated or applied by any legislature, agency, bureau, branch, department, division, commission, court, tribunal or other similar recognized organization or body of any federal, state, county,
municipal, local or foreign government or other similar recognized organization or body exercising similar powers or authority (a "Governmental Body"),
(ii) order, ruling, decision, award, judgment, injunction or other similar determination or finding by, before or under the supervision of any Governmental Body or arbitrator (an
"Order"), or (iii) contract, agreement, arrangement, commitment, instrument, document or similar understanding (whether written or oral),
including a lease, sublease and rights thereunder ("Contract") or permit, license, certificate, waiver, notice and similar authorization
("Permit") to which, in the case of (i), (ii) or (iii), it is a party or by which it is bound or any of its assets are subject;
(b) require any Consent under any Contract to which it is a party or by which it is bound or any of its assets are subject; or (c) require any Permit under any Law or Order other than
(i) required filings, if any, with the Securities and Exchange Commission ("SEC") and
(ii) notifications or other filings with state or federal regulatory agencies after the Closing that are necessary or convenient and do not require approval of the agency as a condition to the
validity of the transactions contemplated hereunder. 

        Section 2.3    Investment Representations.    The Buyer hereby represents and warrants
to each Seller, the following: 

        (a)   It
hereby acknowledges that an investment in the Shares involves certain significant risks. It acknowledges that there is a substantial risk that it will lose all or a
portion of its investment and should be financially capable of bearing the risk of such investment for an indefinite period of time. It has no need for liquidity in its investment in the Shares for
the foreseeable future and is able to bear the risk of that investment for an indefinite period. It understands that there presently is no public market for the Shares and none is anticipated to
develop in the foreseeable future. Its 

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present
financial condition is such that it is under no present or contemplated future need to dispose of any portion of the Shares subscribed for hereby to satisfy any existing or contemplated
undertaking, need or indebtedness. Its overall commitment to investments which are not readily marketable is not disproportionate to its net worth and the investment in the Shares will not cause such
overall commitment to become excessive. 

        (b)   It
acknowledges that the Shares have not been registered under the Securities Act, or any state securities act, and are being sold on the basis of exemptions from
registration under the Securities Act and applicable state securities acts, except those state securities acts that require registration of the Shares thereunder. Reliance on such exemptions, where
applicable, is predicated in part on the accuracy of its' representations and warranties set forth herein. It acknowledges and hereby agrees that the Shares will not be transferable under any
circumstances unless it either registers the Shares in accordance with federal and state securities laws or finds and complies with an exemption under such laws. Accordingly, it hereby acknowledges
that there can be no assurance that it will be able to liquidate its investment in the Shares. It understands that the Issuer is under no obligation to register the Shares under the Securities Act or
to comply with any applicable exemption under the Securities Act on behalf of such Buyer with respect to any resale of the Shares and that it will not be able to avail itself of the provisions of
Rule 144 promulgated under the Securities Act with respect to the resale of the Shares until the Shares have been beneficially owned by it for a period of at least one (1) year from date
of purchase. It further understands that any certificates evidencing the Shares bear a legend referring to the foregoing transfer restrictions. 

        (c)   In
evaluating the merits and risks of an investment in the Shares, it has had the opportunity to seek the advice of its legal and financial advisors, has availed itself
of that right to the extent deemed appropriate, and has not relied on the advice of any Seller or Seller's legal and financial counsel. 

        (d)   The
Shares are being acquired solely for its own account, for investment purposes only, and are not being purchased with a view to or for the resale, distribution,
subdivision or fractionalization thereof; and it has no present plans to enter into any contract, undertaking, agreement or arrangement for such resale, distribution, subdivision or fractionalization.
It is not taking and will not take or cause to be taken any action that would cause it to be deemed an "underwriter" within the meaning of Section 2(11) of the Securities Act. 

        (e)   There
are substantial risk factors pertaining to an investment in the Shares. It acknowledges that the Issuer is an entity with limited operating history and financial
resources; and it is fully able to bear the economic risks of such investment for an indefinite period, and can afford a complete loss thereof. 

        (f)    It
has been given the opportunity to (i) ask questions of and receive answers from the Sellers and the Issuer and their designated representatives concerning the
terms and conditions of the Shares, and the business and financial condition of the Issuer and (ii) obtain any additional information that the Sellers possess or can acquire without
unreasonable effort or expense that is necessary to assist it in evaluating the advisability of the purchase of the Shares and an investment in the Issuer. It further represents and warrants that,
prior to signing this Agreement, it has asked such questions, received such answers and obtained such information as it has deemed necessary or advisable to evaluate the merits and risks of the
purchase of the Shares and an investment in the Issuer. It is not relying on any oral representation made by any person as to the Issuer or its operations, financial condition or prospects. 

        (g)   It
understands that no federal, state or other governmental authority has made any recommendation, findings or determination relating to the merits of an investment in
the Shares. 

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        Section 2.4    Agreement to Sell Back Securities.    The Buyer hereby agrees to permit
the Issuer to repurchase from the Buyer, in such proportion as Buyer holds of the total outstanding Shares of the Issuer immediately prior to the Issuer's initial public offering of its securities
(the "Designated Time"), at a purchase price equal to $0.0001 per share, a number of Shares necessary to ensure that the aggregate amount of Shares held
by the Buyer, any transferees permitted by this Agreement and all other holders of the Issuer's outstanding Shares at the Designated Time does, not exceed 20% of the issued and outstanding common
stock of the Issuer after the consummation of the Issuer's initial public offering of its securities. 

 
 

ARTICLE III.
  REPRESENTATIONS AND WARRANTIES OF THE SELLERS    
    

        Section 3.1    Power and Authority; Enforceability.    Each Seller hereby represents to
the Buyer, as to itself, that this Agreement constitutes its legal, valid, and binding obligation, enforceable against it in accordance with its terms. It has full power and capacity to execute and
deliver this Agreement and to perform its obligations hereunder. This Agreement has been duly executed, and delivered by, and is enforceable against, such Seller. 

        Section 3.2    No Violation; Necessary Approvals.    Each Seller hereby represents to
the Buyer, as to itself, that (i) neither its execution and delivery of this Agreement, nor its consummation or performance of any of transactions contemplated hereby, will: (a) with or
without notice or lapse of time, constitute, create or result in a breach or violation of, default under, loss of benefit or right under or acceleration of performance of any obligation required under
any Law, Order, Contract or Permit to which it is a party or by which it is bound or any of its assets are subject, (b) result in the imposition of any lien, claim or encumbrance upon any
assets owned by it; (c) require any Consent under any Contract or organizational document to which it is a party or by which it is bound; or (d) require any Permit under any Law or Order
other than (i) required filings, if any, with the SEC and (ii) notifications or other filings with state or federal regulatory agencies after the Closing that are necessary or convenient
and do not require approval of the agency as a condition to the validity of the transactions contemplated hereunder; or (e) trigger any rights of first refusal, preferential purchase or similar
rights with respect to any of the Shares. 

        Section 3.3    Capitalization.    Prior to the sale of the Shares to the Buyer pursuant
to this Agreement, (i) LLM Structured Equity hereby represents that it owned 1,352,400 shares of common stock of the Issuer (ii) LLM Investors hereby represents that it owned 27,600
shares of the common stock of the Issuer, and (iii) CMS hereby represents that it owned 345,000 shares of the common stock of the Issuer. 

        Section 3.4    Title to Securities.    Each Seller hereby represents to the Buyer that
all of the Shares being sold by such Seller hereunder have been duly and validly authorized and issued and are fully paid and non-assessable. Upon the sale and purchase of the Shares
pursuant to the terms hereof, the Buyer will have or receive good title to the Shares being sold by such Seller hereunder, free and clear of all liens, claims and encumbrances of any kind, other than
(i) transfer restrictions under federal and state securities laws, and (ii) liens, claims or encumbrances imposed due to the actions of the Buyer. 

        Section 3.5    Nature of Representations and Warranties.    Notwithstanding any other
provision of this Article 3, each representation and warranty made by the Sellers hereunder should be deemed to be made severally, and not jointly. 

 
 

ARTICLE IV.
  MISCELLANEOUS    
    

        Section 4.1    Entire Agreement.    This Agreement, together with the certificates,
documents, instruments and writings that are delivered pursuant hereto, constitutes the entire agreement and 

4

 

understanding
of the parties hereto in respect of its subject matter and supersedes all prior understandings, agreements, or representations by or among the parties hereto, written or oral, to the
extent they relate in any way to the subject matter hereof or the transactions contemplated hereby. 

        Section 4.2    Successors.    All of the terms, agreements, covenants, representations,
warranties, and conditions of this Agreement are binding upon, and inure to the benefit of and are enforceable by, the parties hereto and their respective successors. 

        Section 4.3    Assignments.    Except as otherwise provided herein, no party hereto may
assign either this Agreement or any of its rights, interests, or obligations hereunder without the prior written approval of the other party, other than an assignment by the Buyer to an affiliate
thereof. Any purported assignment in violation of this Section 4.3 shall be void and ineffectual and shall not operate to transfer or assign any interest or title to the purported assignee. 

        Section 4.4    Notices.    All notices, requests, demands, claims and other
communications hereunder will be in writing. Any notice, request, demand, claim or other communication hereunder will be deemed duly given if (and then three business days after) it is sent by
registered or certified mail, return receipt requested, postage prepaid, and addressed to the intended recipient as set forth below: 

	If to a Buyer:	 	James Cahill

3 Kimberly Drive

Redding, CT 06896

Phone: 203-938-9924

Fax: 203-938-9924
	

If to a Seller:	
 	

Capital Management Systems, Inc.

308 E. Lancaster Ave, Suite 300

Wynnewood, PA 19096

Phone: 610-896-3000

Fax: 610-896-3083
	

 	
 	

LLM Structured Equity Fund L.P.

265 Franklin Street, 20th Floor

Boston, MA 02110

Phone: 617-330-7755

Fax: 617-330-7759
	

 	
 	

LLM Investors L.P.

265 Franklin Street, 20th Floor

Boston, MA 02110

Phone: 617-330-7755

Fax: 617-330-7759
	

Copy to (which will not constitute notice):	
 	

Bingham McCutchen LLP

399 Park Avenue

New York, New York 10022

Attn: Floyd I. Wittlin, Esq.

Phone: (212) 705-7000

Fax: (212) 752-5378

        Any
party hereto may send any notice, request, demand, claim, or other communication hereunder to the intended recipient at the address set forth above using any other means (including
personal delivery, expedited courier, messenger service, telecopy, telex, ordinary mail, or electronic mail), but no 

5

 

such
notice, request, demand, claim, or other communication will be deemed to have been duly given unless and until it actually is received by the intended recipient. Any party hereto may change the
address to which notices, requests, demands, claims, and other communications hereunder are to be delivered by giving the other parties hereto notice in the manner herein set forth. 

        Section 4.5    Specific Performance.    Each party hereto acknowledges and agrees that
the other parties would be damaged irreparably if any provision of this Agreement is not performed in accordance with its specific terms or is otherwise breached. Accordingly, each party agrees that
the other parties will be entitled to an injunction or injunctions to prevent breaches of the provisions of this Agreement and to enforce specifically this Agreement and its terms and provisions in
any action instituted in any court of the United States or any state thereof having jurisdiction over the parties hereto and the matter, in addition to any other remedy to which they may be entitled,
at Law or in equity. 

        Section 4.6    Waiver of Jury Trial.    THE PARTIES HERETO EACH HEREBY AGREE TO WAIVE
THEIR RESPECTIVE RIGHTS TO JURY TRIAL OF ANY DISPUTE BASED UPON OR ARISING OUT OF THIS AGREEMENT OR ANY OTHER AGREEMENTS RELATING HERETO OR ANY DEALINGS AMONG THEM RELATING TO THE TRANSACTIONS. THE
SCOPE OF THIS WAIVER IS INTENDED TO BE ALL ENCOMPASSING OF ANY AND ALL ACTIONS THAT MAY BE FILED IN ANY COURT AND THAT RELATE TO THE SUBJECT MATTER OF THE TRANSACTIONS, INCLUDING, CONTRACT CLAIMS,
TORT CLAIMS, BREACH OF DUTY CLAIMS, AND ALL OTHER COMMON LAW AND STATUTORY CLAIMS. THE PARTIES HERETO EACH ACKNOWLEDGE THAT THIS WAIVER IS A MATERIAL INDUCEMENT TO ENTER INTO A BUSINESS RELATIONSHIP
AND THAT THEY WILL CONTINUE TO RELY ON THE WAIVER IN THEIR RELATED FUTURE DEALINGS. EACH PARTY HERETO FURTHER REPRESENTS AND WARRANTS THAT IT HAS REVIEWED THIS WAIVER WITH ITS LEGAL COUNSEL, AND THAT
EACH KNOWINGLY AND VOLUNTARILY WAIVES ITS JURY TRIAL RIGHTS FOLLOWING CONSULTATION WITH LEGAL COUNSEL. NOTWITHSTANDING ANYTHING TO THE CONTRARY HEREIN, THIS WAIVER IS IRREVOCABLE, MEANING THAT IT MAY
NOT BE MODIFIED ORALLY OR IN WRITING, AND THE WAIVER WILL APPLY TO ANY AMENDMENTS, RENEWALS, SUPPLEMENTS OR MODIFICATIONS TO THIS AGREEMENT OR TO ANY OTHER DOCUMENTS OR AGREEMENTS RELATING HERETO. IN
THE EVENT OF AN ACTION, THIS AGREEMENT MAY BE FILED AS A WRITTEN CONSENT TO TRIAL BY A COURT. 

        Section 4.7    Counterparts.    This Agreement may be executed in two or more
counterparts, each of which will be deemed an original but all of which together will constitute one and the same instrument. 

        Section 4.8    Headings.    The article and section headings contained in this
Agreement are inserted for convenience only and will not affect in any way the meaning or interpretation of this Agreement. 

        Section 4.9    Governing Law.    This Agreement, the entire relationship of the parties
hereto, and any litigation between the parties (whether grounded in contract, tort, statute, law or equity) shall be governed by, construed in accordance with, and interpreted pursuant to the laws of
the State of New York, without giving effect to its choice of laws principles. 

        Section 4.10    Amendments.    This Agreement may not be amended, modified or waived as
to any particular provision, except by a written instrument executed by all parties hereto. 

        Section 4.11    Severability.    The provisions of this Agreement will be deemed
severable and the invalidity or unenforceability of any provision will not affect the validity or enforceability of the other provisions hereof; provided that if any provision of this Agreement, as
applied to any party hereto or to any circumstance, is adjudged by a Governmental Body, arbitrator, or mediator not to be enforceable 

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in
accordance with its terms, the parties hereto agree that the Governmental Body, arbitrator, or mediator making such determination will have the power to modify the provision in a manner consistent
with its objectives such that it is enforceable, and/or to delete specific words or phrases, and in its reduced form, such provision will then be enforceable and will be enforced. 

        Section 4.12    Expenses.    Except as otherwise expressly provided in this Agreement,
each party hereto will bear its own costs and expenses incurred in connection with the preparation, execution and performance of this Agreement and the consummation of the transactions contemplated
hereby, including all fees and expenses of agents, representatives, financial advisors, legal counsel and accountants, provided that upon the consummation of the initial public offering of the Issuer,
all such accrued fees and expenses of legal counsel of the Buyer shall be paid by the Issuer. 

        Section 4.13    Construction.    The parties hereto have participated jointly in the
negotiation and drafting of this Agreement. If an ambiguity or question of intent or interpretation arises, this Agreement will be construed as if drafted jointly by the parties hereto and no
presumption or burden of proof will arise favoring or disfavoring any party hereto because of the authorship of any provision of this Agreement. Any reference to any federal, state, local, or foreign
Law will be deemed also to refer to Law as amended and all rules and regulations promulgated thereunder, unless the context requires otherwise. The words
"include," "includes," and "including" will be deemed to
be followed by "without limitation." Pronouns in masculine, feminine, and neuter genders will be construed to include any other gender, and words in the
singular form will be construed to include the plural and vice versa, unless the context otherwise requires. The words "this Agreement,"
"herein," "hereof," "hereby,"
"hereunder," and words of similar import refer to this Agreement as a whole and not to any particular subdivision unless expressly so limited. The
parties hereto intend that each representation, warranty, and covenant contained herein
will have independent significance. If any party hereto has breached any representation, warranty, or covenant contained herein in any respect, the fact that there exists another representation,
warranty or covenant relating to the same subject matter (regardless of the relative levels of specificity) which such party hereto has not breached will not detract from or mitigate the fact that
such party hereto is in breach of the first representation, warranty, or covenant. 

        Section 4.14    Waiver.    No waiver by any party hereto of any default,
misrepresentation, or breach of warranty or covenant hereunder, whether intentional or not, may 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 because of any prior or subsequent occurrence. 

        Section 4.15    Remedies.    The parties hereto shall have all remedies for breach of
this Agreement available to them as provided by law or equity. 

        Section 4.16    Publicity.    None of the parties hereto, nor their respective
representatives, agents, affiliates, subsidiaries, directors, advisors, controlling persons, employees or members shall issue or cause the publication of any press release, advertisement or other
public communication relating to this Agreement or any of the other documents contemplated hereunder, without the prior written consent of the other party, except where the disclosure of information
is required by law, rule, regulation, regulatory inquiry or other judicial process. 

        Section 4.17    Third Party Beneficiary.    Each of the parties hereto hereby agrees
and acknowledges that the Issuer shall be a third party beneficiary of this Agreement with respect to Section 2.4 and this Article IV as if the Issuer shall have been a party to this
Agreement. 

[SIGNATURE PAGES FOLLOW]

7

        IN
WITNESS WHEREOF, the undersigned have executed this Stock Purchase and Sale Agreement to be effective as of the date first set forth above. 

	 	 	SELLERS:
	

 	
 	
LLM STRUCTURED EQUITY FUND L.P.
	

 	
 	

By:	
 	

/s/ Patrick J. Landers

	 	 	Name:	 	Patrick J. Landers
	 	 	Title:	 	Managing Director
	

 	
 	
LLM INVESTORS L.P.
	

 	
 	

By:	
 	

/s/ Patrick J. Landers

	 	 	Name:	 	Patrick J. Landers
	 	 	Title:	 	Managing Director
	

 	
 	
CAPITAL MANAGEMENT SYSTEMS, INC.
	

 	
 	

By:	
 	

/s/ Richard A. Mitchell

	 	 	Name:	 	Richard A. Mitchell
	 	 	Title:	 	V.P.
	

 	
 	
BUYER:
	

 	
 	
/s/ James Cahill

SCHEDULE A  

 DEFINITIONS  

        As used in the Stock Purchase and Sale Agreement dated as of September 6, 2007, by and among LLM Structured Equity Fund L.P., LLM Investors L.P., Capital
Management Systems, Inc. and James Cahill (the "Agreement"), the following terms shall have for all purposes the following meanings: 

        "Buyer" shall have the meaning set forth in the preamble to the Agreement. 

        "Closing" shall have the meaning set forth in Section 1.3 of the Agreement. 

        "Closing Date" shall have the meaning set forth in Section 1.3 of the Agreement. 

        "Consent" means any consent, approval, notification, waiver, or other similar action that is necessary or convenient. 

        "Contract" shall have the meaning set forth in Section 2.2 of the Agreement. 

        "Designated Time" shall have the meaning set forth in Section 2.4 of the Agreement. 

        "Governmental Body" shall have the meaning set forth in Section 2.2 of the Agreement. 

        "Issuer" shall have the meaning set forth in the recitals to the Agreement. 

        "Law" shall have the meaning set forth in Section 2.2 of the Agreement. 

        "Lien" shall mean a mortgage, deed of trust, pledge, hypothecation, assignment, encumbrance, charge, restriction, lien (statutory or
otherwise, including, without limitation, any lien for taxes), security interest, preference, participation interest, priority or security agreement or preferential arrangement of any kind or nature
whatsoever, including, without limitation, any conditional sale or other title retention agreement, any financing lease having substantially the same economic effect as any of the foregoing and the
filing of any document under the law of any applicable jurisdiction to evidence any of the foregoing, other than (i) statutory, mechanics' or other Liens incurred in the ordinary course of
business or (ii) Liens for taxes incurred but not yet due. 

        "Order" shall have the meaning set forth in Section 2.2 of the Agreement. 

        "Permit" shall have the meaning set forth in Section 2.2 of the Agreement. 

        "Purchase Price" shall have the meaning set forth in Section 1.2 of the Agreement. 

        "SEC" shall have the meaning set forth in Section 2.2 of the Agreement. 

        "Securities Act" shall mean the Securities Act of 1933, as amended, or any successor federal statute, and the applicable rules and
regulations promulgated and in effect from time to time thereunder. 

        "Seller" and "Sellers" shall have the meaning set forth in the preamble to the Agreement. 

        "Shares" shall have the meaning set forth in the recitals to the Agreement. 

 
 

SCHEDULE B    
    
    SHARES    

	Seller
 
	 	Shares Sold
	 	SalesPrice of

Shares

	LLM Structured Equity Fund L.P.	 	169,050	 	$	980.00
	LLM Investors L.P.	 	3,450	 	$	20.00
	Capital Management Systems, Inc.	 	43,125	 	$	250.00
	 	 	
	 	

	 	Total	 	215,625	 	$	1250.00

QuickLinks

Exhibit 10.15

STOCK PURCHASE AND SALE AGREEMENT

ARTICLE I. PURCHASE OF SHARES

ARTICLE II. REPRESENTATIONS AND WARRANTIES OF THE BUYER

ARTICLE III. REPRESENTATIONS AND WARRANTIES OF THE SELLERS

ARTICLE IV. MISCELLANEOUS

SCHEDULE B SHARESFiled by Automated Filing Services Inc. (604) 609-0244 - Here Enterprises Inc. - Exhibit 10.1

General Terms and Conditions

1. TERM AND TERMINATION

1.1. Effective Date and Term 

The initial term will begin on the Effective Date. The period
between the Effective Date, and the date of Termination or Expiration, if any,
is the “Term.” 1.2. Termination Unless otherwise specified in a Service
Attachment, following the expiration of a service’s respective term, the term
will automatically renew for the length of the initial term (“Renewal Term”)
unless cancelled in writing by either party at least 30 days before the
expiration of the Term or Renewal Term. 

We reserve the right to terminate this Agreement for a
violation of our AUP. One party may also terminate this Agreement upon the
occurrence of a material breach, which has not been cured by the other party
within 30 days of their receipt of written notice of the breach. For the
purposes of defining a material breach, materiality shall be determined from the
perspective of a reasonable business person with significant experience in
conducting business on the Internet. Notices of material breach must contain
sufficient detail for the party against whom the assertion of material breach is
directed to identify the breach and attempt to take corrective action.

1.3. Guarantees 

In certain cases, this Agreement, or particular Service
Attachments may be terminated by you within a defined period of time for any
reason, or no reason at all (“Guarantee”). Any time provisions of this Guarantee
begin to elapse on the Effective Date and are calculated on a calendar day
basis. A Guarantee only applies during the Term and does not apply to any
Renewal Terms. Non-recurring charges, as defined below, are never subject to the
Guarantee. 

2. PAYMENT

2.1. Credit 

During the Term and any Renewal Terms, we may periodically
review your credit history. This review may consist of a review of your payment
history with us, your broader credit history as reported elsewhere, and the
amount of fraud reported to us as originating with your account. By entering
into this Agreement, you consent to this review, and the disclosure of your
credit history, at our option, to recognized credit agencies. 

2.2. Non-recurring Charges 

You must pay any non-recurring charges, such as set up fees, as
set out on our web site. Payment of these non-recurring charges is a
pre-requisite to our obligation to provide services to you. 

2.3. Recurring Charges 

If you provide us with a credit card, we will bill all charges authorized by this Agreement to that credit card. In addition, we reserve the right to bill that credit card for past due services regardless of whether we regularly billed that credit
card in the past. If you choose monthly billing, you are required to keep a valid credit card on file. Should you choose to remove this credit card, you will be required to choose a billing cycle for which recurring automatic charges are not
required. We reserve the right to bill you for fees charged to us by our credit card processor, plus $200 special processing fee, for disputes initiated by you, which are resolved in our favor. 

Unless otherwise set out on an individual Service Attachment, you agree to pay all charges by the due date indicated on the invoice ("Due Date"). You will pay us interest on payments made following the Due Date at the rate of 1.5% per month or the
maximum rate allowable by law. You may be assessed a processing fee on late payments, at our sole discretion, if we incur administrative and/or legal costs associated with your late payment. Those costs are calculated on an hourly basis, rounded up
to the next full hour, and are based on our current hourly rates. If your check is returned by your bank, you will be billed any return check fee charged to us plus a $25 special handling & processing fee. If you do not pay all undisputed
amounts by the Due Date, we reserve the right to disconnect services and refuse to continue to provide them to you. 

2.4. Refunds 

We have calculated our fees based on the Term. Accordingly, fees will only be refunded as is expressly set out in this Agreement. Regardless of the Guarantee, Effective Date, Term, or Renewal Term, should you be required to make advance payment for
certain services, or pay certain service fees, those fees are not refundable should you choose to terminate the Agreement for any reason. 

2.5. Charges for Previously Provided Services and Storage of Equipment 

We reserve the right to bill you retroactively for any services provided to you for which we had not previously billed. We also reserve the right to bill you retroactively for the costs of the removal and storage of equipment you have placed in our
facility if this Agreement is terminated and this equipment is not removed by you. We also reserve the right to sell your equipment to satisfy your outstanding storage charges. 

2.6. Bill Disputes 

You have up to 25 days (commencing five days after the date of our bill, or on the date on which your credit card is charged) to initiate a dispute over charges or to receive credits, if applicable. In order to dispute your bill, you must send us a
written itemized description of the specific items you dispute in your bill. This itemization must be in sufficient detail for us to identify the items in dispute. We must receive this information prior to the date set out above. You agree to pay by
the Due Date all charges not specifically itemized in your written notice of dispute. 

3. TAXES

You are responsible for all taxes and fees associated with the services which we are legally required or permitted to collect from you. These taxes and fees may include, but are not limited to, any sales, use, transfer, gross receipts, federal
excise, right-of-way, franchise, privilege, property, occupational and similar taxes and surcharges, regardless of your physical location. If these taxes are assessed on us, based on the services provided to you, and we are required to pay these
taxes, they will be billed to you, in addition to a reasonable special handling & processing fee. You are not responsible for taxes based on our income. 

4. USE OF SERVICES

You are bound by our AUP, and may only use services provided by us for the purposes set out in the AUP. You are responsible for the activities of your customers and third party users of services provided by us through you. 

4.1. Material, Products, Information and Services. 4.1.1. Server Ready 

You will provide us with material and data in a condition that is capable of being deployed by us without any specialized effort on our part. In most cases, that requires that the material and data be “Server Ready” and that term is used
throughout this Agreement to refer to this obligation. 

4.1.2. Working Order 

All Server Ready material provided to us must be previously validated and tested. We have no responsibility, and will make no effort to validate material and data placed on our servers and network. In the event that material provided to us is not
Server Ready, we may at any time reject and delete this material. You may be offered the opportunity to make rejected material Server Ready; however, we are under no obligation to allow you to do so. Rejection of material for its failure to be
Server Ready shall not constitute a material breach of this Agreement by us. 

4.1.3. Knowledge 

Use of our services requires that you possess a certain level of knowledge. At a minimum, you represent and warrant that you have sufficient knowledge about administering, designing and operating a web site, and if engaged in commercial activity,
have significant experience in conducting business on the Internet, and operating the hardware and software necessary to conduct that business. Your failure to anticipate the complexity of operation of the services purchased from us shall not be a
basis for you to terminate this Agreement. 

Superb offers a number of services designed to assist you in the use and operation of your hardware and software. These services are provided at an additional cost, and pursuant to various contract addenda. We may terminate this agreement, at our
sole and exclusive option, should your requests for support exceed those typically experienced by us for similarly situated customers. 

5. MATERIAL, SERVICES AND INFORMATION

5.1. Connection Speed 

Connection speed represents the maximum speed of a connection
and does not represent guarantees of available end-to-end bandwidth. 

5.2. Hardware, equipment and software 

You are responsible for, and must provide, all telephone,
computer, hardware and software equipment, and services necessary to access our
network. It is your obligation to determine if the equipment necessary to
connect with our network, and interact with it, is compatible. We are not
responsible for incompatibility of our equipment and network with yours. Such an
incompatibility is not grounds for termination of this Agreement by you, nor
shall it constitute a material breach by us. 

5.3. Reasonable use 

We have determined what constitutes reasonable use of our
network for the particular services and products you purchase from us. These
standards are based on typical customer use of our network, for similar services
and products. It is your obligation to monitor the use of your services and/or
server(s) –to ensure that there are not unusual spikes and peaks in your
bandwidth or disk usage. We understand that your business often succeeds beyond
your initial expectations, or that you may face, at times, unexpected or
unforeseen traffic levels. For that reason, we are pleased to offer you
unlimited bandwidth, up to the capacity of the server’s connection (while
metering and billing you based on the total traffic per month). However, should
your use of our network and/or products exceed the limits described above, you
will incur additional charges for that use. These charges will apply regardless
of whether you initiated the additional use, or it was caused by a third
party.

5.4. Reselling 

You are allowed to resell to third-parties, the storage and
transfer services provided by us, under the following conditions: 

- You must provide to third-parties an active link to our
current AUP; 
- Third-parties to whom you provide services, must specifically
disclaim any right to legal recourse against us for services provided by us, or
our suppliers, to you, or to the third-party through you; 
- You take full
and unlimited responsibility for the actions of the third-parties, and agree to
cooperate with us unconditionally should we be made aware that the third-party
is acting in a way that violates our AUP, this Agreement, or the law; 
- You
are required to have at least one other non-resold account; and 
- You are
required to provide all support to the third-parties for any resold products or
services.

In addition to being a material breach of this Agreement, your
failure to comply with the provisions of this section shall entitle us to full
recourse against you for any damages, losses, or expenses sustained by that
failure. This remedy shall be in addition to, and not 

in lieu of, those provided for in this Agreement and at law,
and shall survive termination of this Agreement. 

6. LICENSES, WARRANTIES, LIMITATION OF WARRANTIES, AND

LIMITATION OF LIABILITY

6.1. Licenses and Intellectual Property 

6.1.1. License from us to you 

We grant to you a non-exclusive, non-transferable, worldwide,
royalty free license to use technology provided by us solely to access and use
the services. This license terminates on the expiration or termination of this
Agreement. Except for the license rights set out above, this license does not
grant any additional rights to you. All right, title and interest in our
technology shall remain with us or our licensors. You are not permitted to
circumvent any devices designed to protect our, or our licensor’s, ownership
interests in the technology provided to you. In addition, you may not reverse
engineer this technology. 

Any license provided to you, is provided with "RESTRICTED
RIGHTS" applicable to private and public licensees. These rights include, but
are not limited to, restrictions on use, duplication, or disclosure by the
United States Government as set forth in this Agreement and as provided in
subparagraph (c)(1)(ii) of the Rights in Technical Data and Computer Software
clause at DFARS 252.227 -7013 or subparagraphs (c)(1) and (2) of the Commercial
Computer Software Restricted Rights at 48 CFR 52.227 -19, as applicable. 

6.2 Licenses from you to us 

We may use information you provide to us to for technical
support, implementation, operation or administration of the services
(Operational Information). Operational Information, as well as aggregate
information gleaned from the operation of our business in general, will be used
to improve, or create new products and services. We shall be the exclusive
owners of the resulting intellectual property. You waive any rights you may in
this intellectual property, and assign all right, title and interest in it to us
and agree to cooperate with us to secure our rights. 

You grant to us, and any third parties used by us to provide
the services, a non-exclusive, non-transferable, worldwide, royalty free license
to use, disseminate, transmit and cache content, technology and information
provided by you and, if applicable, End Users, in conjunction with the services.
This license terminates on the expiration or termination of this Agreement. All
right, title and interest in your technology shall remain with you, your End
Users, or your licensors. 

6.3. Representations and Warranties 

6.3.1. Reciprocal 

We each warrant to the other that: (i) we have the power,
authority and legal right to enter into this Agreement; and (ii) we have the
power, authority and legal right to perform our obligations under this Agreement
and all incorporated provisions. 

6.3.2. Your Representations and Warranty 

You represent and warrant to us that: (i) you have the
experience and knowledge necessary to use the services; (ii) you understand and
appreciate the risks inherent to you, your business and your person, that come
from accessing the Internet; (iii) you will provide us with material that may be
implemented by us to provide the services without extra effort on our part; (iv)
you have sufficient knowledge about administering, designing and operating the
functions facilitated by the service to take advantage of the service; (v) that
you understand that you may not be able to access location based services, such
as “911” emergency calls, using the service; (vi) that in entering into this
Agreement, and performing the obligations set out in it, you will not violate
any applicable laws and regulations; (vii) that you will make back up copies of
your data even if you purchase “back up” services from us; and/or (viii)
that you will pass through the terms of our Acceptable Use Policy to your
customers in your agreements with them. You expressly warrant that you own the
entire right, title and interest to, or have an appropriate license to use, all
materials provided to us, or which may be accessed or transmitted using the
services. You also warrant that to the extent you do business with other parties
using the services, that they have the same ownership interests in the materials
provided to you, or accessed via you, that are set out in this paragraph. 

6.3.3. Our Representations and Warranty 

For each service we provide, we warrant that we will perform in
a competent manner. 

6.4 Disclaimers and Limitations of Liability 

EXCEPT AS SPECIFIED IN THIS SECTION, ALL EXPRESS OR IMPLIED
CONDITIONS, REPRESENTATIONS, AND WARRANTIES INCLUDING, WITHOUT LIMITATION, ANY
IMPLIED WARRANTIES OR CONDTIONS OF MERCHANTABILITY, FITNESS FOR A PARTICULAR
PURPOSE, SATISFACTORY QUALITY, AGAINST INFRINGEMENT OR ARISING FROM A COURSE OF
DEALING, USAGE, OR TRADE PRACTICE, ARE HEREBY EXCLUDED TO THE EXTENT ALLOWED BY
APPLICABLE LAW. This disclaimer and exclusion shall apply even if the express
warranty set forth above fails of its essential purpose. 

YOU MAY NOT BE ABLE TO USE LOCATION BASED EMERGENCY PRODUCTS,
SUCH AS “911,” USING THE PRODUCTS. WE HAVE NO LIABILITY FOR DAMAGES OR INJURIES,
OF ANY TYPE, THAT YOU, EMPLOYEES, AGENTS OR AFFILIATES SUSTAIN BASED ON THE FACT
THAT LOCATION BASED PRODUCTS ARE UNAVAILBLE. YOU AGREE DO INDEMNIFY AND HOLD US
HARMLESS BASED ON THIRD PARTY CLAIMS BASED IN WHOLE OR IN PART ON THEIR
INABILITY TO USE A LOCATION BASED SERVICE. 

PRODUCTS AND SERVICES PURCHASED THROUGH US ARE SOLD AS-IS. TO THE EXTENT THAT THESE PRODUCTS AND SERVICES HAVE WARRANTIES, YOU AGREE TO LOOK TO THE MANUFACTURER OR SUPPLIER FOR ALL CLAIMS. WARRANTIES MADE BY THESE MANUFACTURERS AND SUPPLIERS MAY NOT
BE PASSED THROUGH TO YOU, AND WE EXPRESSLY DISCLAIM ANY OBLIGATION TO AFFECT SUCH A PASS THROUGH SHOULD ONE BE POSSIBLE. 

IN NO EVENT WILL SUPERB’S LIABILITY HEREUNDER EXCEED THE AGGREGAGE FEES ACTUALLY RECEIVED BY SUPERB FROM CUSTOMER FOR THE 12 MONTH PERIOD IMMEDIATELY PRECEDING THE EVENT GIVING RISE TO SUCH LIABILITY. FOR THE PURPOSES OF THIS PARAGRAPH ONLY,
THE TERM SUPERB SHALL BE INTERPRETED TO INCLUDE SUPERB’S EMPLOYEE’S, AGENTS, OWNERS, DIRECTORS, OFFICERS, AFFILIATES, AND THIRD PARTIES PROVIDING SERVICES TO CUSTOMER THROUGH SUPERB. YOU AGREE THAT, TO THE MAXIMUM EXTENT PERMITTED BY 

APPLICABLE LAW, YOU WILL NOT UNDER ANY CIRCUMSTANCES INCLUDING, BUT NOT LIMITED TO, NEGLIGENCE, HOLD SUPERB OR ITS LICENSORS, AGENTS, EMPLOYEES, OFFICERS AND/OR THIRD PARTY VENDORS, LIABLE FOR ANY INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL OR
PUNITIVE DAMAGES WHATSOEVER INCLUDING, BUT NOT LIMITED TO, DAMAGES FOR LOSS OF PROFITS, COST SAVINGS, REVENUE, BUSINESS, DATA OR USE, OR ANY OTHER PECUNIARY LOSS BY YOU, ANY OF YOUR END USERS OR ANY OTHER THIRD PARTY. YOU AGREE THAT THE FOREGOING
LIMITATIONS APPLY WHETHER IN AN ACTION IN CONTRACT OR TORT OR ANY OTHER LEGAL THEORY AND APPLY EVEN IF SUPERB HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. SOME JURISDICTIONS DO NOT ALLOW THE LIMITATION OR EXCLUSION OF LIABILITY FOR
INCIDENTAL OR CONSEQUENTIAL DAMAGES; YOU AGREE THAT IN THOSE JURISDICTIONS SUPERB’S LIABILITY WILL BE LIMITED TO THE EXTENT PERMITTED BY LAW. 

7. INDEMNIFICATION

You agree to indemnify, defend and hold harmless Superb and its parent, subsidiary and affiliated companies, and each of their respective officers, directors, employees, shareholders and agents (each an "indemnified party" and, collectively,
"indemnified parties") from and against any and all claims, damages, losses, liabilities, suits, actions, demands, proceedings (whether legal or administrative), and expenses (including, but not limited to, reasonable attorney's fees) threatened,
asserted, or filed by a third party against any of the indemnified parties arising out of or relating to (i) your use of our products (ii) any violation by you of the AUP; (iii) any breach of any of your representations, warranties or covenants
contained in this Agreement; or (iv) any acts or omissions by you. The terms of this section shall survive any termination of this Agreement. For the purpose of this paragraph only, the terms used to designate you include you, your customers,
visitors to your website, and users of your products or services, the use of which is facilitated by us.

If you fail to comply with any terms of this Agreement, you
shall be fully responsible for the cost of labour and any and all other costs,
losses or legal expenses incurred by us in order to rectify the damage caused by
you, or due to that damage.

8. OPERATION OF FACILITIES 

In order to implement the services, you may be required to
provide us with technical information. If we do not receive this information in
a commercially reasonable amount of time, and the Agreement is terminated by us,
you will continue to be responsible for all non-recurring charges, and any
recurring charges accrued and/or invoiced up to and until termination. We may
provide you with an IP address, or addresses. We retain ownership of these IP
addresses and may change them at any time. Upon termination of this Agreement,
you will not have the ability to transfer these addresses. 

9. NOTICES

All notices must be sent in one of the following manners (i) by
a recognized express carrier using delivery confirmation; (ii) by registered
mail, return receipt requested; or (iii) by facsimile in which both the
broadcasting machine and receiving machine date stamp each page of a transmitted
document. Notices shall be deemed effective 2 business days following the date
upon which receipt is indicated. However, if in the case of items (i) or (ii)
above, should the notices be refused or the date of receipt be otherwise
unavailable, notice will be deemed received 10 business days from actual deposit
with the carrier. We reserve the right to contact you by e-mail regarding issues
related to your account and this contract, other than material breaches and our
termination of this Agreement. Our e-mail notices are effective 10 minutes after
they are sent by our servers. Your e-mail communications to us shall not
constitute notice. All notices will be sent to you at the address set out on
your initial order form. It is your obligation to ensure that we have correct
information to which to send notices. All notices to us shall be sent as
follows. 

All notices: 
Superb Internet Corporation 
14 th floor

700 West Pender Street 
Vancouver BC V6C 1G8 
Canada 
Fax:
+604.608.2953 

Copies of all legal notices: 
General Counsel 
Superb
Internet Corporation
 14 th floor 
700 West Pender Street 
Vancouver BC
V6C 1G8 
Canada 
Fax: +604.608.2953 

10. OPERATION OF OUR FACILITIES

We retain the right to maintain and operate our facilities in such a manner as will best enable us to conduct our normal business operations. You may not terminate this Agreement based on changes in this operation unless such a change materially
alters the type of product or service provided by us. In particular, you are not guaranteed a particular IP or IP block, shared server allocation, server rack, colocation space, or other physical location. At times, IP renumbering of
server/equipment moves may be necessary; you agree to cooperate with us in the case of such a renumbering or move. 

11. GENERAL  

11.1. Choice of law, jurisdiction and forum 

This Agreement shall be governed by the laws of the Commonwealth of Virginia without regard to its choice of law rules. The parties specifically disclaim the application of the United Nations Convention for the International Sale of Goods. Federal
courts located in Fairfax County, Virginia shall have sole and exclusive jurisdiction over this Agreement. All actions relating to this Agreement shall be brought in the U.S. District Court for the Eastern District of Virginia. The parties expressly
agree that jurisdiction is proper in the court set out in this paragraph. 

11.2. Force Majure 

Other than obligations regarding payments or confidentiality, neither party shall be in default or otherwise liable for any delay in or failure to perform under this Agreement if such a delay or failure is caused by an event beyond its reasonable
control. Events beyond a party’s reasonable control include, but are not limited to, any act of God, any act of a common enemy, the elements, earthquakes, floods, fires, epidemics, inability to secure products or services from other persons,
entities or transportation facilities, failures or delay in transportation or communications, or any act or failure to act by the other party or such other party’s employees, agents or contractors. Such a delay or failure shall not constitute a
breach of this Agreement. Lack of funds shall not constitute a reason beyond a party’s reasonable control. 

11.3. Transfer and Assignment 

You may not sell, assign or transfer any of your rights or obligations under this Agreement without our prior written consent. We reserve the right to transfer services we provide to you, or assign this Agreement, at any time, without your consent
or knowledge. 

11.4. Waiver 

Any failure or delay on our part in exercising any of the rights or powers given to us in this Agreement shall not operate as a waiver of such a right or power, or affect our right to exercise the same or any other right or power at a later date.

11.5. Severability 

Should any paragraph or aspect of this Agreement be determined to be contrary to law, the remainder of the Agreement shall be interpreted in such a manner as if the omitted portions had not been included. 

11.6. Drafting 

 Each party acknowledges that they have been given the opportunity
  to review this Agreement and discuss it with counsel of their choice. The Agreement
  shall be interpreted as if it had been jointly drafted, and shall not be construed
  against the drafter. 

11.7. Survival 

The following paragraphs shall survive the termination or expiration
  of this Agreement: 2 (Payment), 3 (Taxes), 5.4 (Reselling), 6 (Warranties and
  Limitation of Warranties), 7 (Indemnification), 9 (Notices), 11 (General).

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