Document:

ex101.htm

Exhibit 10.1

 

EMPLOYMENT SEPARATION AGREEMENT

 

This Employment Separation Agreement (this "Agreement") is made this 29th day of August, 2011 (the "Effective Date") by and between GAME TRADING TECHNOLOGIES, INC., with offices at 10957 McCormick Road, Hunt Valley, Maryland 21031 (the "Company") and RICHARD J. LEIMBACH ("Employee").

 

Explanatory Statement

 

Employee was employed with the Company until the 1st day of September, 2011 (the "Separation Date"). In exchange for consideration Employee is not otherwise entitled to, Employee agrees to release the Company from all claims for individualized relief Employee may have against the Company.

 

Now therefore, in consideration of the mutual agreements, promises and covenants set forth below, the receipt and adequacy of which is hereby acknowledged, the parties agree as follows:

 

1.     Final Wages; Severance. Employee shall receive a final paycheck for work performed through the Separation Date, and accrued but unused vacation sick and personal leave in the amount of One Thousand One Hundred Fifty Four dollars ($1,154.00) (the "Final Wages"). Additionally: (i) on the next regular pay date following Employee's execution and delivery of this Agreement and the expiration of the Rescission Period (as defined below) the Company shall begin payments to Employee equal to salary continuation for a period of twenty six (26) weeks; and (ii) continue providing to the Employee group insurance (health, dental, life) equivalent to that provided to all Company senior executives (the "Severance Pay") for a period of fifty two (52) weeks.

 

2.     Full Payment. Employee agrees that, upon payment of the Final Wages, the Company shall have fully discharged all obligations to Employee for, and Employee shall have received payment in full of, all wages, overtime pay, vacation, sick and personal leave, and all other earned compensation of any kind to Employee.

 

3.     COBRA. If Employee is entitled to COBRA notice for health insurance continuation benefits, notice will be provided to Employee under separate cover and consistent with applicable law.

 

4.     No Further Employment; Cooperation. Employee acknowledges that Employee has no claim to reinstatement as an employee of the Company. Employee agrees that after the Separation Date Employee is not authorized to perform any work for, or to represent himself or herself as being otherwise affiliated with the Company, without written consent from the Company. Employee also hereby agrees to cooperate with the Company, upon request by the Company, to effect a seamless transition of Employee's responsibilities, to include assistance in ongoing communication with auditors, report preparation of 2011 quarterly SEC filings, and communication with the SEC, FINRA, and other related regulatory agencies for a period that extends through the filing date of the Company's 2011 SEC Form 10-K.

 

The Company shall defend, indemnify and hold harmless Employee from any and all claims, liabilities, losses, damages, and expenses, including reasonable attorneys' fees, in connection with the performance of Employee's obligations under this Section 4 to the maximum extent permitted by the Company's Bylaws, Certificate of Incorporation, and standard form of Indemnification Agreement with such

indemnitees to be in accordance with the Company's standard practices for senior executive officers but on terms no less favorable than provided to any other Company senior executive officer or director.

 

  

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5. Releases; Covenant Not To Sue Or Make Claims.

 

(a) Except for the obligations contained in this Agreement, Employee for himself/herself, and for Employee's personal representatives, agents, heirs and assigns, forever does release and remise the Company and its successors, assigns, employees, shareholders, officers, directors, agents, parent companies, subsidiaries, affiliates, and related companies (the "Released Parties") from and against any and all monetary claims, liabilities, demands, expenses, costs or any other obligation to Employee arising out of or in any way relating to Employee's employment with or separation from employment with the Company from the beginning of time through the Effective Date, including but not limited to: (i) any claims arising under any Federal, State or local law (ii) individualized relief for claims arising under any anti-discrimination statute including but not limited to the Title VII of the Civil Rights Act of 1964, Equal Pay Act of 1963, Age Discrimination in Employment Act of 1967, Rehabilitation Act of 1973, Sections 501 and 505, the Americans with Disabilities Act of 1990 and Civil Rights Act of 1991, the Maryland Human Relations Act; (iii) claims for nonpayment of wages or other compensation, including but not limited to monetary claims arising under the Maryland Wage Payment & Collection Act or the Maryland Wage and Hour Law; (iv) claims arising under the Older Workers' Benefits Protections Act, the Family Medical Leave Act and the Employee Retirement Income Security Act; (v) claims alleging tort and breach of contract including but not limited to claims for emotional distress and wrongful termination; and (vi) claims under any compensation or benefit plan of the Company including but not limited to claims under any Company benefit program, incentive, stock, stock option, deferred compensation or bonus plans, sick leave, personal leave and vacation pay, and which arose on or before the Effective Date.

 

(b) Employee understands that Employee's release of the Released Parties under Section 5(a) above is required as a condition precedent to the payment of the Severance Pay. Employee understands that this Agreement represents a full and final settlement and release of all claims Employee may have relating in any way to the parties' employment relationship. Employee also agrees that Employee will not sue, whether alone or with others, any of the Released Parties on any claim released by this Agreement and that, to the extent permitted by law, Employee will refrain from participating in any action, whether administrative, legal or arbitral or of filing a claim for individualized relief against any of the Released Parties, and Employee agrees to withdraw any such claim Employee may have already filed.

 

(c) Employee acknowledges that while employed by the Company, the Company provided Employee with notice of Employee's rights under the Family and Medical Leave Act ("FMLA"), and that, during Employee's employment, Employee did not request (and had no reason to request) any leave under the FMLA or requested and was granted leave under the FMLA. The Employee understands and agrees that, in entering into this Agreement, the Company is expressly relying on the foregoing representations by Employee. The Employee further agrees that the representations made by her herein are admissions by Employee and are admissible, if offered by the Company, as a sworn statement of fact by Employee in any proceeding between Employee and Employer.

 

(d) Nothing in this Agreement shall or is intended to: (1) impose any condition, penalty, or other limitation affecting Employee's right to challenge the release contained herein; (2) unlawfully release or waive any of Employee's rights under applicable laws; (3) waive or release any claim that arises after this Agreement is signed; (4) waive or release Employee's right to file an administrative charge with any local, state, or federal administrative agency with jurisdiction to receive and investigate Employee's claims under applicable law, although Employee does waive and release Employee's right to

individualized relief under such applicable law, including, but not, limited to compensatory damages, punitive damages, liquidated damages, or attorneys' fees and costs; or (5) prevent or interfere with Employee's ability or right to provide truthful testimony, if under subpoena or court order to do so, or respond as otherwise required by law.

 

  

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6.            Continuing Obligations. Employee reaffirms (i) Employee's obligations to maintain strictly confidential all proprietary information and trade secrets of the Company, and (ii) Employee's post-employment obligations under any employment agreement or employment policy executed by Employee with the Company in connection with Employee's employment including but not limited to those in sections 8 and 9 of the Employment Agreement dated September 27, 2010 between Employee and the Company ("Employment Agreement"). If the Company fails to make four (4) or more payments required by this Agreement, Employee shall be released from all post-employment obligations under the Employment Agreement. Employee represents and warrants that Employee does not have custody, control or possession of any Company property including, but not limited to, proprietary information, trade secrets or work product generated within the scope of Employee's employment with the Company; and Employee has not disclosed or otherwise made available to any third party, outside of authorized officers of the Company, any of the aforementioned materials or information. Employee further represents and warrants that Employee has returned to the Company all originals and all copies of Confidential Information of the Company as defined in the Employment Agreement, as well as all other tangible and intangible property owned by the Company.

 

7.            Non-Disparagement; Reference(s) & Unemployment. Employee agrees not to disparage the Company, either orally, in writing, or otherwise, at any time regarding the parties' employment relationship. The Company agrees that, provided that Employee fully complies with all terms and conditions of this Agreement, the Company: (i) shall not contest any request by Employee for unemployment benefits; and (ii) will provide, to subsequent potential employers of Employee, only Employee's title, dates of work and confirmation of salary.

 

8.            Effect of Death. In the event of the death of Employee, this Agreement shall automatically terminate and be of no further force or effect.

 

9.            Specific Performance; Remedies. Employee hereby agrees that damages at law will be an insufficient remedy to the Company in the event that Employee violates or threatens to violate the terms of Paragraphs 5, 6 or 7 of this Agreement, and that the Company may seek injunctive relief in any court of competent jurisdiction to restrain the breach or threatened breach of, or otherwise to specifically enforce, any of the covenants of such paragraphs. The existence of this right shall not preclude any other rights and remedies at law or in equity, which the Company may have for damages to it. Employee hereby further agrees to waive any requirement for obtaining a bond with respect to any such relief and also agrees to reimburse the Company for its reasonable attorneys' fees and costs incurred in seeking such relief. Any controversy or claim brought pursuant to this Paragraph, shall be tried solely and exclusively in the Circuit Court for Baltimore County (or if jurisdiction exists, in the United States District Court for the District of Maryland, Northern Division), and Employee consents to the jurisdiction and venue of such court, regardless of where Employee is residing at the time of such action.

 

9.1Termination of Severance Pay. Employee further agrees that, in the event of Employee's

breach or threatened breach of the Paragraphs 5, 6 or 7 of this Agreement, the Company shall be entitled, in addition to any other remedies and damages available to it, to terminate the remaining Severance Pay due under this Agreement.

 

  

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10.            Dispute Resolution. Except for any controversy or claim arising out of Employee's breach or threatened breach of the covenants contained in Paragraphs 5, 6 or 7 of this Agreement (as addressed in Paragraph 9 above), the parties agree that any controversy or claim arising out of or relating to this Agreement shall be resolved in accordance with the American Arbitration Associations' Employment Arbitration Rules and Mediation Procedures. THE PARTIES HEREBY WAIVE SPECIFICALLY THEIR RESPECTIVE RIGHTS TO A TRIAL BY COURT OR A JURY OF ANY SUCH CONTROVERSY OR CLAIM IDENTIFIED HEREIN EXCEPT AS SET FORTH IN PARAGRAPH 9 HEREOF. Employee understands that if Employee files a lawsuit regarding a dispute arising out of or relating to this Agreement the Company may use this Agreement in support of its request to the court to dismiss the lawsuit and require Employee to arbitrate such dispute. Employee understands that this arbitration provision affects Employee's legal rights and that Employee may seek legal advice before signing this Agreement.

 

10.1 Alternative Dispute Resolution. To the extent that the arbitration provision contained in Paragraph 10 is unenforceable as a matter of law, THE PARTIES HEREBY WAIVE SPECIFICALLY THEIR RESPECTIVE RIGHTS TO A TRIAL BY JURY OF ANY CONTROVERSY OR CLAIM ARISING OUT OF OR RELATING TO THIS AGREEMENT EXCEPT AS SET FORTH IN PARAGRAPH 9 HEREOF. Any controversy or claim brought pursuant to this Paragraph, shall be tried solely and exclusively in the Circuit Court for Baltimore County (or if jurisdiction exists, in the United States District Court for the District of Maryland, Northern Division), and Employee consents to the jurisdiction and venue of such court, regardless of where Employee is residing at the time of such action.

 

11.            Governing Law. This Agreement shall be governed, construed and enforced in accordance with the laws of the State of Maryland, exclusive of its conflicts of law provisions. Any order entered in a Maryland court shall be enforceable in any other state, regardless of that State's statutes, laws or case law, the same as if the enforcement thereof were brought in Maryland, applying Maryland law.

 

12.            Miscellaneous. This Agreement contains the entire understanding among the parties hereto with respect to the subject matter hereof, and supersedes all prior and contemporaneous agreements and understandings, inducements or conditions, express or implied, oral or written, except as herein contained. This Agreement may not be modified or amended other than by an agreement in writing. If any provision or part of any provision of this Agreement shall be held invalid, illegal or unenforceable, such invalidity or unenforceability shall not affect any other provision hereof. This Agreement is assignable by the Company. This Agreement may not be assigned by Employee. This Agreement shall inure to the benefit of, be binding upon and be enforceable by the parties, and their heirs, personal representatives, successors and permitted assigns. This Agreement may be executed in counterparts, each of which shall constitute a duplicate original, and a facsimile shall be deemed and constitute and original.

 

13.            Survival of Obligations., Severability and Reformation. The covenants, warranties, agreements and obligations of this Agreement shall survive the execution, delivery and performance hereof, and shall survive the termination of Employee's employment. In the event of any direct conflict between the actual written terms of this Agreement, any employment agreement entered into between the parties or the Company's Employee Handbook or Manual, the provisions of this Agreement shall supersede and control. If any part of this Agreement shall be held unenforceable, such unenforceability shall not affect any other part or provision hereof. Further, should any provisions within this Agreement ever be reformed or rewritten by a judicial body, those provisions as rewritten shall be binding, but only in that jurisdiction, on the Company and Employee as if contained in the original Agreement.

 

  

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14.Review Period. Employee further states that he/she has carefully read the foregoing, has

had sufficient opportunity to review and deliberate the foregoing with counsel of his own choosing, knows and understands its contents, and signs the same as his free and independent act. Consistent with the Older Workers Benefit Protection Act, Employee is specifically advised to consult with an attorney before executing this Agreement. No inducements, representations, or agreements have been made or relied upon to make this Agreement except as stated in this Agreement.

 

a. Employee is afforded twenty-one (21) days from Employee's initial receipt of the

 

Agreement within which to consider accepting and being bound by the Agreement ("Review Period"). To accept the Agreement. Employee must execute and return the Agreement to Todd Hays on or before the close of the Review Period which ends at 5:00 p.m. on the 2nd day of September, 2011. The offer contained in this Agreement expires immediately after the close of the Review Period. Employee understands and acknowledges that his Release and waiver of claims is exchanged for the Severance Pay, an amount which Employee is not otherwise entitled to receive from Employer.

 

b. After Employee's execution of this Agreement, Employee has seven (7) days in

 

which to rescind his agreement by notifying Todd Hays in writing of his intent to rescind ("Rescission Period"). At the expiration of the seven (7) days allowed for Employee's revocation of the Agreement, if Employer has not received written notice of Employee's revocation, the entire Agreement shall become binding and irrevocable. The Release shall become effective at the expiration of the seven (7) days allowed for Employee's revocation of the Agreement.

 

c. In the event that Employee revokes the Agreement within seven (7) days of

 

executing it, Employee shall return all copies of the executed Agreement, and the Agreement and Release shall become null and void and shall not serve as evidence for any purpose.

 

15.           Options.Employee acknowledges and agrees that pursuant to Section 3(b) of the

Employment Agreement he had a five (5) year option to purchase up to two hundred twenty five thousand (225,000) shares of the Company's common stock, with seventy five thousand (75,000) options vested as of the Effective Date and one hundred fifty thousand (150,000) options not vested as of the Effective Date (the "Options"). Employee further acknowledges and agrees that in exchange for the Severance Pay and other consideration provided by this Agreement, he waives all rights to the Options and agrees to the termination of the Options.

 

IN WITNESS WHEREOF, the parties have hereunto set their hands, intending to create a document under seal, this 29th day of August, 2011.

 

 

	EMPLOYER:	EMPLOYEE:

 

 

 

 

5ex101.htm

Exhibit 10.1

 

 

PURCHASE AGREEMENT

This Purchase Agreement (“Agreement”) is made to be effective as of June 30, 2011 among SF BLU VU, INC., a Nevada corporation, (“Purchaser”) and LIVEWIRE MC2, LLC, a California limited liability company, (“LVWR”) and the selling members of LVWR, identified on the signature pages (“Selling Members”).

WHEREAS, Purchaser has common stock eligible for trading on the over-the-counter market and files reports with the United States Securities and Exchange Commission (“SEC”) under Section 12(g) of the Exchange Act.

WHEREAS, Purchaser and the Selling Members desire to enter a transaction to combine business operations (the “Transaction”) so that LVWR will become a wholly-owned subsidiary of Purchaser.

NOW, THEREFORE, for good and valuable consideration, Purchaser, LVWR, and the Selling Members agree as follows.

1.           At the Closing Date, Purchaser agrees to issue Thirty Million (30,000,000) shares of its common stock (the “Securities”) for 100% of the outstanding membership interests of LVWR, subject to the terms and conditions of this Agreement.

2.           At the Closing Date, the Selling Members agree to transfer to Purchaser 100% of the outstanding membership interests of LVWR, subject to the terms and conditions of this Agreement.

3.           The Closing Date shall mean the date of Purchaser’s filing of a Form 8-K (the “Super 8-K”) with the SEC.  Purchaser, LVWR, and the Selling Members agree to use reasonable efforts to cause the Super 8-K to be filed by August 31, 2011.

The Closing will take place at the offices of Weed & Co. LLP, 4695 MacArthur Court, Suite 1430, Newport Beach, California 92660 on the Closing Date in accordance with the terms of this Agreement, or at such other place or time as the parties mutually agree.

 

  

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REPRESENTATIONS AND WARRANTIES OF PURCHASER

4.           Purchaser makes the following representations and warranties.

4.1           Organization and Authority.  Purchaser is a corporation duly incorporated, validly existing and in good standing under the laws of the State of Nevada, with the corporate power and authority to carry on its business as now being conducted.  The execution and delivery of this Agreement and the consummation of the Transaction has been, or will be prior to closing, duly authorized by all requisite corporate actions on the part of Purchaser. This Agreement has been duly executed and delivered by Purchaser and constitutes the valid, binding, and enforceable obligation of Purchaser.

4.2           Ability to Carry Out Agreement.  To the best of Purchaser's knowledge and belief, the execution and performance of this Agreement will not violate, or result in a breach of, or constitute a default in, any provisions of applicable law, any agreement, instrument, judgment, order or decree to which Purchaser is a party or to which Purchaser is subject.  No consents of any persons under any contract or agreement required to be disclosed pursuant to this Agreement are required for the execution, delivery, and performance by Purchaser of this Agreement.

4.3           The Securities.  The Securities will be issued at Closing, free and clear of liens, claims, and encumbrances, and Purchaser has all necessary right and power to issue the Securities to the Selling Members as provided in this Agreement without the consent or approval of any person, firm, corporation, or governmental authority.

4.4           Capitalization of Purchaser.  Purchaser is a Nevada corporation in good standing.  Purchaser’s authorized capital consists of two classes of stock.  One class of stock consists of 100,000,000 shares of $.0001 par value common stock, of which 19,933,529 shares are issued and outstanding.  One class of stock consists of 10,000,000 shares of $.0001 par value Preferred Stock, of which 1,000,000 shares have been designated Series A Preferred Stock and are issued and outstanding.  The board of directors, by resolution only and without further action or approval, may cause the corporation to issue one or more classes or one or more series of Preferred Stock within any class thereof and which classes or series may have such voting powers, full or limited, or no voting powers, and such designations, preferences and relative, participating, optional or other special rights, and qualifications, limitations or restrictions thereof, as shall be standard expressed in the resolution or resolutions adopted by the board of directors, and to fix the number of shares constituting any classes or series and to increase or decrease the number of shares of any such class or series.

4.5           No Undisclosed Liabilities. Purchaser has no liabilities, which are not specified in its SEC filings.  Purchaser has ongoing relationships with its transfer agent, Continental Stock Transfer & Trust Co., its accountants, Sherb & Co., its legal counsel, Weed & Co. LLP, and its Secretary, Richard O. Weed, that will continue after the Closing Date.

4.6.           SEC Reporting Obligations.  Purchaser will be current with its SEC reporting obligations on the Closing Date.

4.7           Status of the Purchaser.  Purchaser is a reporting issuer pursuant to the Exchange Act.  Purchaser participates in the Pink OTC Markets Electronic Quotation Service.

4.8           Date of Representations and Warranties.  Each of the representations and warranties of Purchaser set forth in this Agreement is true and correct at and as of the Closing Date, with the same force and effect as though made at and as of the Closing Date, except for changes permitted or contemplated by this Agreement.  Without limiting the generality of the foregoing, Purchaser represents and warrants that immediately prior to the Closing Date, its liabilities will be $100,000 or less.

 

  

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REPRESENTATIONS AND WARRANTIES OF LVWR

5.           LVWR makes the following representations and warranties.

5.1.           Organization and Authority.  LVWR is a California limited liability company in good standing.  The execution and delivery of this Agreement and the consummation of the Transaction has been, or will be prior to closing, duly authorized by all requisite actions on the part of LVWR.  This Agreement has been duly executed and delivered by LVWR and constitutes the valid, binding, and enforceable obligation of LVWR.

5.2           Ability to Carry Out Agreement.  To the best of LVWR 's knowledge and belief, the execution and performance of this Agreement will not violate, or result in a breach of, or constitute a default in, any provisions of applicable law, any agreement, instrument, judgment, order or decree to which LVWR is a party or to which LVWR is subject.  No consents of any persons under any contract or agreement required to be disclosed pursuant to this Agreement are required for the execution, delivery, and performance by LVWR of this Agreement.

REPRESENTATIONS AND WARRANTIES OF THE SELLING MEMBERS

6.           The Selling Members, each individually, make the following representations and warranties.

6.1.           Financial Statements.  The Selling Members have furnished or will furnish Purchaser with true and complete copies of the audited financial statements of LVWR, including balance sheet and the related statements of operations, statement of changes in capital and cash flows for the most recently completed fiscal year (December 31, 2010) and unaudited financial statements for all subsequent interim periods.  The financial statements shall fairly present in all material respects the financial position of LVWR in conformity with GAAP.

6.2           Disclosure.  This Agreement does not, and the documents and certificates executed by the Selling Members or otherwise furnished by the Selling Members and/or LVWR to Purchaser do not contain any untrue statement of a material fact or omit to state a material fact necessary in order to make the statements contained herein or therein, in light of the circumstances under which they were made, not misleading.

6.3           Conduct of Business as Usual.  Up until the Closing Date, the Selling Members shall insure that LVWR's operations shall be conducted only in the usual and ordinary course, and that no change will be made to such operations that might adversely affect the value to be transferred to Purchaser.

6.4           Best Efforts. The Selling Members shall use their best efforts to fulfill all conditions of the Closing including the timely solicitation of affirmative consent of all third parties necessary to effect a Closing under this Agreement.

6.5           Tax Advice.  The Selling Members shall consult with tax advisors, tax lawyers and accountants of their own choosing to satisfy themselves concerning the tax character of the transactions contemplated by this Agreement.  The Selling Members acknowledge that tax consequences, if any, of this Agreement shall be the responsibility of the party incurring the same.

 

  

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COVENANTS AND AGREEMENTS OF THE SELLING MEMBERS

7.           Up to and including the Closing Date, the Selling Members covenant that:

7.1 Access and Information. After the execution of this Agreement, the Selling Members will permit Purchaser to have reasonable access to all information necessary to verify the representations and warranties made herein.  After the Closing, the Selling Members will continue to permit Purchaser access to such additional documentation and information as is reasonably necessary to completion of the Transaction.

COVENANTS AND AGREEMENTS OF THE PURCHASER

8.           Up to and including the Closing Date, Purchaser covenants that:

8.1           Affirmative Covenants. From the date hereof through the Closing Date, Purchaser will take every action reasonably required of it to satisfy the conditions to Closing set forth in this Agreement and otherwise to ensure the prompt and expedient consummation of the Transaction substantially as contemplated by the provisions of this Agreement, and will exert all reasonable efforts to cause the Transaction to be consummated.

8.2           Access and Information. Purchaser shall provide to the Selling Members  and to the their accountants, counsel and other representatives reasonable access during normal business hours during the period prior to the Closing to all of its properties, books, contracts, commitments, records (including, but not limited to, tax returns), but no investigation pursuant to this section shall affect any representations or warranties of Purchaser.

8.3           Conduct of Business Pending the Closing of the Transaction. Prior to the consummation of the Transaction or the termination of this Agreement pursuant to its terms, unless the Selling Members shall otherwise consent in writing, and except as otherwise contemplated by this Agreement, Purchaser shall comply with each of the following:

(1) The business of Purchaser shall be conducted only in the ordinary and usual course, Purchaser shall use reasonable efforts to keep intact its business organization and goodwill, keep available the services of its officers and employees and maintain good relationships with suppliers, lenders, creditors, distributors, employees, customers, and other persons having business or financial relationships with Purchaser, and Purchaser shall immediately notify the Selling Members  of any event or occurrence or emergency material to, and not in the ordinary and usual course of business of, Purchaser.

(2) Purchaser shall not (a) amend its Articles of Incorporation (or similar charter document) or Bylaws (or similar governing document), or (b) split, combine, or reclassify any of its outstanding securities or declare, set aside, or pay any dividend or other distribution on or make or agree or commit to make any exchange for or redemption of any such securities payable in cash, stock, or property.

(3) Purchaser shall not (a) issue or agree to issue any additional shares of, or rights of any kind to acquire any shares of, its capital stock of any class, or (b) enter into any contract, agreement, commitment, or arrangement with respect to any of the foregoing.

(4) Purchaser shall not create, incur, or assume any long-term or short-term indebtedness for money borrowed or make any capital expenditures or commitment for capital expenditures, except in the ordinary course of business and consistent with past practice.

 

  

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(5) Purchaser shall not (a) adopt, enter into, or amend any bonus, profit-sharing, compensation, stock option, warrant, pension, retirement, deferred compensation, employment, severance, termination, or other employee benefit plan, agreement, trust fund, or arrangement for the benefit or welfare of any officer, director or employee; or (b) agree to any material (in relation to historical compensation) increase in the compensation payable or to become payable to, or any increase in the contractual term of employment of, any officer, director, or employee, except, with respect to employees who are not officers or directors, in the ordinary course of business in accordance with past practice.

(6) Purchaser shall not sell, lease, mortgage, encumber, or otherwise dispose of or grant any interest in any of Purchaser’s assets or properties, except for sales, encumbrances, and other dispositions or grants in the ordinary course of business and consistent with past practice and except for liens for taxes not yet due or liens or encumbrances that are not material in amount or effect and do not impair the use of Purchaser’s property, or as specifically provided for or permitted in this Agreement.

(7) Purchaser shall not enter into, or terminate, any material contract, agreement, commitment, or understanding.

(8) Purchaser shall not enter into any agreement, commitment, or understanding, whether in writing or otherwise, with respect to any of the matters referred to in Paragraphs (1) through (7), inclusive, of this section.

(9) Purchaser will file properly and promptly when due all federal, state, local, foreign and other tax returns, reports, and declarations required to be filed by Purchaser and will pay, or make full and adequate provision for the payment of, all taxes and governmental charges due from or payable by Purchaser.

(10) Purchaser will comply with all laws and regulations applicable to Purchaser and Purchaser’s operations.

8.4           Publicity. Prior to the Closing any written news releases by Purchaser pertaining to this Agreement or the Transaction shall be submitted to the Selling Members for review and approval prior to release by Purchaser, and shall be released only in a form approved by the Selling Members.

8.5           Offer to Convert Outstanding Notes of LVWR to Common Stock.  Promptly after the Closing, Purchase will cooperate with the conversion of any Outstanding Notes of LVWR such that each One Dollar (USD$1.00) of principal and interest on the notes shall receive 5 shares of Purchaser’s common stock.  Any shares of Purchaser’s common stock issued in the conversion shall be restricted securities and subject to lock-up and no-sale agreements for a minimum of 365 days following issuance.

9.           TERMINATION

9.1           Termination Without Cause.  This Agreement may be terminated at any time prior to the Closing Date without cost or penalty to either party by mutual consent of the Selling Members and Purchaser.

9.2           Termination with Cause.  This Agreement may be terminated, with the terminating party to be reimbursed by the other party of all expenses and costs related to this Agreement, if:

(A) Breach or Noncompliance by the Selling Members.  The Selling Members shall fail to comply in any material aspect with any of their representations, warranties, or obligations under this Agreement, or if any of the representations or warranties made by the Selling Members under this Agreement shall be inaccurate in any material respect and is not cured within ten (10) business days of notice of such breach.

(B) Breach or Noncompliance by Purchaser. Purchaser shall fail to comply in any material aspect with any of its representations, warranties, or obligations under this Agreement, or if any of the representations or warranties made by Purchaser under this Agreement shall be inaccurate in any material respect and is not cured within ten (10) business days of notice of such breach.

 

  

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10.           SECURITIES REGISTRATION; DISCLOSURE

10.1           Private Transaction.  The Selling Members understand that the shares issued pursuant to this Agreement, have not been nor will they be registered under the Securities Act, but are issued pursuant to an exemption from such registration.  The Securities will be restricted securities and subject to lock-up and no-sale agreements for a minimum of 365 days following issuance.

10.2           Access to Information.  The Selling Members represents that, by virtue of their economic bargaining power or otherwise, they have had access to or has been furnished with, prior to or concurrently with Closing, the same kind of information that would be available in a registration statement under the Securities Act should registration of the shares issued pursuant to this Agreement have been necessary, and that they have had the opportunity to ask questions of and receive answers from Purchaser's officers and directors, or any party acting on their behalf, concerning the business of Purchaser and that they have had the opportunity to obtain any additional information, to the extent that Purchaser possesses such information or can acquire it without unreasonable expense or effort, necessary to verify the accuracy of information obtained or furnished by Purchaser.

11.           INDEMNIFICATION

11.1           Indemnification by Purchaser.  Purchaser shall indemnify, save and hold harmless the Selling Members  and their affiliates, employees, accountants, auditors, attorneys, partners, agents, and other representatives from and against any and all costs, losses (including, without limitation, diminution in value), liabilities, damages, lawsuits, deficiencies, adverse claims, taxes and expenses (whether or not resulting from third-party claims), including, without limitation, interest, penalties, reasonable attorneys' fees and all amounts paid in investigation, defense or settlement of any of the foregoing (collectively, "Damages"), incurred in connection with or resulting from any breach of any covenant or warranty, or the inaccuracy of any representation made by the Purchaser in or pursuant to this Agreement.

11.2           Indemnification by Selling Members.  The Selling Members shall indemnify, save and hold harmless Purchaser, and its affiliates, officers, employees, directors, accountants, auditors, attorneys, partners, agents and other representatives, from and against any and all Damages incurred in connection with or arising out of or resulting from any breach of any covenant or warranty, or the inaccuracy of any representation, made by the Selling Members in or pursuant to this Agreement.

11.3           Defense of Third-Party Claims.  If any lawsuit or enforcement action is filed against any party entitled to the benefit of indemnification pursuant to this Agreement, written notice thereof shall be given to the indemnifying party as promptly as practicable (and in any event no later than fifteen (15) days after the service of the citation or summons); provided, however, that the failure of any indemnified party to give timely notice shall not affect the rights to indemnification contemplated by this Agreement, except to the extent that the indemnifying party demonstrates actual damage caused by such failure.  After such notice, if the indemnifying party shall acknowledge in writing to the indemnified party that the indemnifying party shall be obligated pursuant to the terms of its indemnification pursuant to this Agreement in connection with such lawsuit or action, then the indemnifying party shall be entitled, if such party so decides, to take control of the defense and investigation of such lawsuit or action and to employ and engage attorneys of its own choice to handle and defend the same, at the indemnifying party's cost, risk and expense; provided, however, that the indemnifying party and its counsel shall proceed with diligence and in good faith with respect thereto.  The indemnified party shall cooperate in all reasonable respects with the indemnifying party and such attorneys in the investigation, trial and defense of such lawsuit or action and any appeal resulting therefrom; provided, however, that the indemnified party may, at its own cost, participate in the investigation, trial and defense of such lawsuit or action and any appeal resulting therefrom.

12.           POST-CLOSING ITEMS

12.1           Name Change.  As soon as practicable after the Closing, Purchaser shall cause its name to be changed to LIVEWIRE ERGOGENICS INC.

12.2           Change of Officers and Directors.  As soon as practicable after the Closing, the Purchaser shall enter employment agreements with Bill Hodson and Brad Nichols.

 

  

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13.           MISCELLANEOUS PROVISIONS

13.1           Survival of Representations and Warranties.  All representations, warranties, and covenants made by any party in this Agreement shall survive the Closing hereunder and the consummation of the transactions contemplated hereby for two (2) years from the Closing Date. The Selling Members and Purchaser are executing and carrying out the provisions of this Agreement in reliance on the representations, warranties, and covenants and agreements contained in this Agreement or at the Closing of the transactions herein provided for including any investigation upon which they might have made or any representations, warranty, agreement, promise, or information, written or oral, made by the other party or any other person other than as specifically set forth herein.

13.2           Costs and Expenses.  Subject to Section 9.2 herein, all costs and expenses in the proposed sale and transfer described in this Agreement shall be borne by the Selling Members and Purchaser in the following manner:

(A) Attorney Fees and Costs.  Each party has been encouraged to and received an opportunity to be represented by its own attorney(s) in this transaction.  Each party shall pay the fees of its own attorney(s), if any, except as may be expressly set forth herein to the contrary.

(B) Costs of Closing.  Each party shall bear its reasonable share of all other Closing costs and expenses arising from this Agreement.

13.3           Further Assurances.  At any time and from time to time, after the effective date, each party will execute such additional instruments and take such action as may be reasonably requested by the other party to confirm or perfect title to any property transferred hereunder or otherwise to carry out the intent and purposes of this Agreement.

13.4           Waiver.  Any failure of any party to this Agreement to comply with any of its obligations, agreements, or conditions hereunder may be waived in writing by the party to whom such compliance is owed. The failure of any party to this Agreement to enforce at any time any of the provisions of this Agreement shall in no way be construed to be a waiver of any such provision or a waiver of the right of such party thereafter to enforce each and every such provision. No waiver of any breach of or non-compliance with this Agreement shall be held to be a waiver of any other or subsequent breach or non-compliance.

13.5           Headings.  The paragraph and subparagraph headings in this Agreement are inserted for convenience only and shall not affect in any way the meaning or interpretation of this Agreement.

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

13.7           Governing Law.  This Agreement shall be governed by the laws of the United States, State of California.

13.8           Binding Effect.  This Agreement shall be binding upon the parties hereto and inure to the benefit of the parties, their respective heirs, administrators, executors, successors, and assigns.

13.9           Entire Agreement.  This Agreement contains the entire agreement between the parties hereto and supersedes any and all prior agreements, arrangements, or understandings between the parties relating to the subject matter of this Agreement.  No oral understandings, statements, promises, or inducements contrary to the terms of this Agreement exist. No representations, warranties, covenants, or conditions, express or implied, other than as set forth herein, have been made by any party.

13.10           Severability. I f any part of this Agreement is deemed to be unenforceable the balance of the Agreement shall remain in full force and effect.

13.11           Amendment.  This Agreement may be amended only by a written instrument executed by the parties or their respective successors or assigns.

 

  

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13.12           Facsimile Counterparts.  A facsimile, telecopy or other reproduction of this Agreement may be executed by one or more parties hereto and such executed copy may be delivered by facsimile of similar instantaneous electronic transmission device pursuant to which the signature of or on behalf of such party can be seen, and such execution and delivery shall be considered valid, binding and effective for all purposes. At the request of any party hereto, all parties agree to execute an original of this Agreement as well as any facsimile, telecopy or other reproduction hereof.

13.13           Time is of the Essence. Time is of the essence of this Agreement and of each and every provision hereof.

IN WITNESS WHEREOF, the parties have executed this Agreement the day and year first above written.

 

	 	
“Purchaser”

	 
	 	

SF BLU VU, INC., a Nevada corporation

	 
	 	 	 
	 	

By: _____________________

	 
	 	

Name: Richard O. Weed

	 
	 	

Title: President

	 

 

“LVWR”

LIVEWIRE MC2, LLC, a California limited liability company,

By: _____________________

Name: Bill Hodson

Title: President

 

	 	

LIVEWIRE MC2, LLC

	 
	 	

SSN or EIN __________________________________

	 
	 	 	 
	 	

Complete Mailing Address

	 
	 	

_____________________________________________

	 
	 	

_____________________________________________

	 
	 	

_____________________________________________

	 

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8

  

“Selling Members”

By: _____________________

Name: Bill Hodson, 31.43

 

	 	
 

	 
	 	

Bill Hodson SSN __________________________________

	 
	 	 	 
	 	

Complete Mailing Address

	 
	 	

_____________________________________________

	 
	 	

_____________________________________________

	 
	 	

_____________________________________________

	 

 

By: _____________________

Name: Brad Nichols, 32.43

 

	 	
 

	 
	 	

Brad Nichols SSN __________________________________

	 
	 	 	 
	 	

Complete Mailing Address

	 
	 	

_____________________________________________

	 
	 	

_____________________________________________

	 
	 	

_____________________________________________

	 

By: _____________________

Name: Danya Thompson, 7

 

	 	
 

	 
	 	

Danya Thompson SSN __________________________________

	 
	 	 	 
	 	

Complete Mailing Address

	 
	 	

_____________________________________________

	 
	 	

_____________________________________________

	 
	 	

_____________________________________________

	 

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9

  

 

By: _____________________

Name: Terry Barnaby, 5

 

	 	
 

	 
	 	

Terry Barnaby SSN __________________________________

	 
	 	 	 
	 	

Complete Mailing Address

	 
	 	

_____________________________________________

	 
	 	

_____________________________________________

	 
	 	

_____________________________________________

	 

By: _____________________

Name: Tony Torgerud, 7

 

	 	
 

	 
	 	

Tony Torgerud SSN __________________________________

	 
	 	 	 
	 	

Complete Mailing Address

	 
	 	

_____________________________________________

	 
	 	

_____________________________________________

	 
	 	

_____________________________________________

	 

By: _____________________

Name: Dave Brown, 2

 

	 	
 

	 
	 	

Dave Brown SSN __________________________________

	 
	 	 	 
	 	

Complete Mailing Address

	 
	 	

_____________________________________________

	 
	 	

_____________________________________________

	 
	 	

_____________________________________________

	 

 

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10

  

By: _____________________

Name: Jim Beuchler, 0.14

 

	 	
 

	 
	 	

Jim Beuchler SSN __________________________________

	 
	 	 	 
	 	

Complete Mailing Address

	 
	 	

_____________________________________________

	 
	 	

_____________________________________________

	 
	 	

_____________________________________________

	 

LiveWire SW

By: _____________________

Name: ______________, 10

Title: __________________

 

	 	
 

	 
	 	

LiveWire SW EIN __________________________________

	 
	 	 	 
	 	

Complete Mailing Address

	 
	 	

_____________________________________________

	 
	 	

_____________________________________________

	 
	 	

_____________________________________________

	 

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11

  

LiveWire NE

By: _____________________

Name: ______________, 5

Title: __________________

 

 

	 	
 

	 
	 	

LiveWire NE EIN __________________________________

	 
	 	 	 
	 	

Complete Mailing Address

	 
	 	

_____________________________________________

	 
	 	

_____________________________________________

	 
	 	

_____________________________________________

	 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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