Document:

Exhibit 4.1

 

Execution Version

 

CROWDFUNDER, INC.

 

REGISTRATION RIGHTS AGREEMENT

 

This REGISTRATION RIGHTS
AGREEMENT (this “Agreement”)
is entered into as of July 20, 2008, by and between CrowdFunder, Inc., a Colorado
corporation (the “Company”),
and Gubb, Inc., a California corporation (“Shareholder”),

 

RECITALS

 

A.            The Company
issued 920,000 shares of the Company’s common stock (the “Shares”) to
Shareholder as consideration for the purchase and sale of certain assets of
Shareholder pursuant to that Asset Purchase Agreement, dated as of the date
hereof (the “Purchase
Agreement”).

 

B.            The closing
under the Purchase Agreement is conditioned upon the execution and delivery of
this Agreement by the Company and the Shareholder.

 

NOW, THEREFORE, for good and valuable consideration, the receipt of
which is hereby acknowledged, the parties hereto agree as follows:

 

AGREEMENT

 

NOW, THEREFORE, in
consideration of the premises and for other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the parties
hereto agree as follows:

 

1.             DEFINITIONS.
Unless otherwise defined herein, as used in this
Agreement the following terms shall have the following respective meanings:

 

(a)      “Common Stock” means
common stock of the Company.

 

(b)      “Exchange Act” means
the Securities Exchange Act of 1934, as amended.

 

(c)      “Initial Offering” means
the Company’s first firm commitment underwritten public offering of its Common
Stock registered and declared effective under the Securities Act.

 

(d)      “Person” means any
individual, firm, company, corporation, unincorporated association,
partnership, limited liability company, trust, syndicate, estate, joint venture
or other entity, and shall include any successor (by merger or otherwise) of
such entity.

 

(e)      “Register,” “Registered,” and “Registration” refer
to a registration effected by preparing and filing a registration statement in
compliance with the Securities Act and the applicable rules and
regulations thereunder, and the declaration or ordering of effectiveness of
such registration statement or document.

 

 

(f)       “Registration Expenses” means
all expenses incurred by the Company in complying with Section 2.1 hereof,
including, without limitation, for each registration, all registration and
filing fees (exclusive of Selling Expenses), printing expenses, fees and
disbursements of counsel for the Company, blue sky fees and expenses, NASD
fees, fees to list the Shares on securities exchanges and quotation systems and
the expense of any special audits incident to or required by any such
registration (but excluding the compensation of regular employees of the
Company which shall be paid in any event by the Company).

 

(g)      “Rule 144” means Rule 144
of the rules and regulations promulgated under the Securities Act or any
similar or analogous rule promulgated under the Securities Act.

 

(h)      “SEC” means the
Securities and Exchange Commission.

 

(i)       “Securities Act” means
the Securities Act of 1933, as amended.

 

(j)       “Selling Expenses” means
all underwriting discounts, selling commissions and fees, and disbursements of
counsel for the Shareholder applicable to the sale.

 

(k)     “Shares” means the shares of
Common Stock held by the Shareholder and its permitted assigns.

 

(l)       “Special Registration Statement” means (i) a
registration statement relating to any employee benefit plan, (ii) with
respect to any corporate reorganization or transaction under Rule 145 of
the Securities Act, including any registration statements related to the
issuance or resale of securities issued in such a transaction, (iii) a
registration related to stock issued upon conversion of debt securities or (iv) any
registration statement for the purpose of effecting a business combination.

 

2.                                        REGISTRATION

 

2.1          Piggyback Registrations.

 

(a)   The Company shall notify the Shareholder in writing prior to the
filing of any registration statement under the Securities Act for purposes of a
public offering of securities of the Company (including, but not limited to,
registration statements relating to secondary offerings of securities of the
Company, but excluding Special Registration Statements) and will afford the
Shareholder a reasonable opportunity to include in such registration statement
all or part of the Shares requested to be registered by the Shareholder.  If the Shareholder desires to include in any
such registration statement all or any part of the Shares held by it, the
Shareholder shall, within fifteen (15) days after receipt of the
above-described notice from the Company, so notify the Company in writing.  Such notice shall state the intended method
of disposition of the Shares requested to be registered by the
Shareholder.  If the Shareholder decides
not to include all of its Shares in any registration statement thereafter filed
by the Company, the Shareholder shall nevertheless continue to have the right
to include any Shares in any subsequent registration statement or registration
statements as may be filed by the Company with respect to offerings of its
securities, all upon the terms and

 

 

conditions set forth herein.  Notwithstanding anything to the contrary
herein, the Shareholder shall not register and sell more than thirty-nine
percent (39%) of Shareholder’s Shares in the first 12-month period from the
date of this Agreement.  Thereafter, the
Shareholder shall not register and sell more than twenty-five percent (25%) of
Shareholder’s Shares during any subsequent 12-month period while this Agreement
is in effect.

 

(b)      If the
registration statement under which the Company gives notice under this Section 2.1
is for an underwritten offering, the Company shall so advise the
Shareholder.  In such event, the right of
the Shareholder to have its Shares included in a registration pursuant to this Section 2.1
shall be conditioned upon the Shareholder’s participation in such underwriting
and the inclusion of the Shareholder’s Shares in the underwriting to the extent
provided herein.  If the Shareholder
proposes to distribute its Shares through such underwriting, it shall accept
the terms of the underwriting as agreed upon between the Company and the
underwriter or underwriters selected for such underwriting by the Company.  Notwithstanding any other provision of this
Agreement, if the Company and its underwriter or underwriters determine in good
faith that marketing factors require a limitation of the number of shares to be
underwritten, the Company shall have the right to reduce the number of shares
proposed to be registered to a minimum of twenty-five percent (25%) on a pro rata basis. The number of shares that may
be included in the underwriting shall be allocated as follows: first, to the
Company; second, to the Shareholder if its seeks registration under this Section 2.1;
and third, to any shareholder of the Company (other than the Shareholder) on a pro rata basis, or in such other
proportions as mutually agreed to by such selling holders.

 

(c)      The
Company shall have the right to terminate or withdraw any registration
initiated by it under this Section 2.1 prior to the effectiveness of such
registration whether or not the Shareholder has elected to include securities
in such registration.  The Registration
Expenses of such withdrawn registration shall be borne by the Company in
accordance with Section 2.2 hereof.

 

2.2          Registration Expenses.  Except as specifically provided herein, all
Registration Expenses (exclusive of stock transfer taxes, underwriting
discounts and commissions) incurred in connection with any registration,
qualification or compliance pursuant to Section 2.1 herein shall be borne
by the Company.  All Selling Expenses
incurred in connection with any registrations hereunder shall be borne by the
Shareholder of the securities so registered pro
rata on the basis of the number of shares so registered.

 

2.3          Obligations of the Company.  Whenever required to effect
the registration of the Shares, the Company shall use all reasonable efforts
to:

 

(a)      Prepare
and file with the SEC a registration statement with respect to such Shares and
use all reasonable efforts to cause such registration statement to become
effective, and, upon the request of the Shareholder, keep such registration
statement effective for up to ninety (90) days or, if earlier, until the the
Shareholder has completed the distribution related thereto; provided, however,
that at any time, upon written notice to the Shareholder and for a period not
to exceed sixty (60) days thereafter (the “Suspension Period”), the Company may delay
the filing or effectiveness of any registration statement or suspend the use or
effectiveness of any registration statement if the Company reasonably believes
that there is or

 

 

may be in existence material nonpublic information or events involving
the Company, the failure of which to be disclosed in the prospectus included in
the registration statement could result in a Violation (as defined below).  In the event that the Company shall exercise
its right to delay or suspend the filing or effectiveness of a registration
hereunder, the applicable time period during which the registration statement
is to remain effective shall be extended by a period of time equal to the
duration of the Suspension Period.  The
Company may extend the Suspension Period for an additional consecutive sixty
(60) days with the consent of the holders of a majority of the shares
registered under the applicable registration statement, which consent shall not
be unreasonably withheld.  If so directed by the Company, the
Shareholder registering shares under such registration statement shall (i) not
offer to sell any Shares pursuant to the registration statement during the
period in which the delay or suspension is in effect after receiving notice of
such delay or suspension; and (ii) use its best efforts to deliver to the
Company (at the Company’s expense) all copies, other than permanent file copies
then in the Shareholder’s possession, of the prospectus relating to such Shares
current at the time of receipt of such notice.

 

(b)      Prepare
and file with the SEC such amendments and supplements to such registration
statement and the prospectus used in connection with such registration
statement as may be necessary to comply with the provisions of the Securities
Act with respect to the disposition of all securities covered by such
registration statement for the period set forth in subsection (a) above.

 

(c)      Furnish
to the Shareholder such number of copies of a prospectus, including a
preliminary prospectus, in conformity with the requirements of the Securities
Act, and such other documents as it may reasonably request in order to
facilitate the disposition of Shares owned by it that are included in such
registration.

 

(d)      Use its
reasonable efforts to register and qualify the securities covered by such
registration statement under such other securities or blue sky laws of such
jurisdictions as shall be reasonably requested by the Shareholder; provided
that the Company shall not be required in connection therewith or as a
condition thereto to qualify to do business or to file a general consent to
service of process in any such states or jurisdictions, except for those
jurisdictions in which the Company is already qualified to do business or
subject to consent to service of process and except as may be required by the
Securities Act.

 

(e)      In the
event of any underwritten public offering, enter into and perform its
obligations under an underwriting agreement, in usual and customary form, with
the managing underwriter(s) of such offering.  The Shareholder shall also enter into and
perform its obligations under such an agreement.

 

(f)       Notify
the Shareholder, if covered by such registration statement, during the time
when a prospectus is required to be delivered under the Securities Act, of the
happening of any event as a result of which the prospectus included in such
registration statement, as then in effect, includes an untrue statement of a
material fact or omits to state a material fact required to be stated therein
or necessary to make the statements therein not misleading in the light of the
circumstances then existing, and at the request of the Shareholder promptly
prepare and furnish to the Shareholder and each underwriter, if any, a

 

 

reasonable number of copies of a supplement to or an amendment of such
prospectus as may be necessary so that, as thereafter delivered to the
purchasers of such securities, such prospectus shall not include an untrue
statement of a material fact or omit to state a material fact required to be
stated therein or necessary to make the statements therein not misleading in
the light of the circumstances under which they were made.

 

(g)      List
the Shares being registered on any national securities exchange (or the
National Association of Securities Dealers Automated Quotation System (NASDAQ))
on which a class of the Company’s equity securities is listed or qualify the
Shares being registered for inclusion on a national securities exchange (or
NASDAQ) of the Company’s choosing if the Company does not have a class of
equity securities listed on a national securities exchange.

 

(h)      Provide
a transfer agent and registrar for the securities being registered and a CUSIP
number, not later than the effective date of the registration statement.

 

(i)       Promptly
notify the Shareholder of any stop order issued or threatened in writing to be
issued by the SEC in connection therewith and take all reasonable actions
required to prevent the entry of such stop order or to remove it if entered.

 

(j)       Use the
Company’s reasonable efforts to obtain a “comfort letter” from its independent
public accountants, and legal opinions of counsel to the Company addressed to
the Shareholder, in customary form and covering such matters of the type
customarily covered by such letters.  The
Company shall furnish to counsel for the Shareholder a signed counterpart of
any such comfort letter or legal opinion. 
Delivery of any such opinion or comfort letter shall be subject to the
Shareholder furnishing such written representations or acknowledgments as are
customarily provided by selling shareholders who receive such comfort letters
or opinions, and an opinion of counsel for the selling shareholders addressed
to the Company and the underwriters in customary form and covering such matters
of the type customarily covered by such opinion letters.

 

(k)     Take
all other reasonable actions necessary to expedite and facilitate disposition
by the Shareholder of the Shares pursuant to the registration statement.

 

2.4          Delay of Registration; Furnishing
Information.

 

(a)      The
Shareholder shall not have any right to obtain or seek an injunction
restraining or otherwise delaying any such registration as the result of any
controversy that might arise with respect to the interpretation or
implementation of this Section 2.

 

(b)      It
shall be a condition precedent to the Company’s obligations to take any action
pursuant to this Agreement that the Shareholder shall furnish to the Company
such information regarding it, the Shares held by it and the intended method of
disposition of such securities as shall be reasonably required to effect the
registration of its Shares and shall execute such documents in connection with
such registration as the Company may reasonably request.

 

 

2.5          Termination of Registration Rights.  The registration rights granted under this Section 2
shall terminate as to the Shareholder three (3) years after the date of
the closing of the Company’s Initial Offering, or when, after the closing of
the Company’s Initial Offering, with respect to the Shareholder’s shares, all
of the Shareholder’s shares can be sold pursuant to Rule 144(k) of
the Securities Act.

 

2.6          Indemnification.  In the event any Shares are included in a
registration statement under Section 2.1:

 

(a)      To the
extent permitted by law, the Company will indemnify and hold harmless the
Shareholder, any underwriter (as defined in the Securities Act) for the
Shareholder and each person, if any, who controls the Shareholder or
underwriter within the meaning of the Securities Act or the Exchange Act
against any actual expenses (including legal fees and costs), losses, claims,
damages (including settlement amounts) or liabilities (joint or several)
(collectively, “Losses”)
to which they may become subject under the Securities Act, the Exchange Act or
other federal or state law, insofar as such Losses arise out of or are based
upon any of the following statements, omissions or violations (any of the
following, a “Violation”)
by the Company:  (i) any untrue
statement or alleged untrue statement of a material fact contained in such
registration statement, including any preliminary prospectus or final
prospectus contained therein, or any amendments or supplements thereto, (ii) the
omission or alleged omission to state therein a material fact required to be
stated therein, or necessary to make the statements therein, not misleading, or
(iii) any Violation or alleged Violation of the Securities Act, the
Exchange Act, any state securities law or any rule or regulation
promulgated under the Securities Act, the Exchange Act or any state securities
law in connection with the offering covered by such registration
statement.  The Company will reimburse
(as incurred) the Shareholder, underwriter or controlling person for any
Losses  reasonably incurred by them in
connection with investigating or defending any Violations; provided, however,
that the indemnity agreement contained in this Section 2.6(a) shall
not apply to amounts paid in settlement of any claims for Violations if such
settlement is made without the consent of the Company, which consent shall not
be unreasonably withheld, nor shall the Company be liable in any such case for
any Losses to the extent the same arise out of, or are based upon, a Violation
that results from written information furnished expressly for use in connection
with such registration by, or on behalf of, the Shareholder, underwriter or
controlling person.

 

(b)      To the
extent permitted by law, the Shareholder will indemnify and hold harmless the
Company and its officers, directors, agents and employees, each underwriter and
the Shareholder selling securities in such registration statement, and any
person who controls any of the foregoing within the meaning of the Securities
Act or the Exchange Act, against any Losses to which the Company or such
officer, director, agent, employee, or underwriter or other selling shareholder
or controlling person may become subject under the Securities Act, the Exchange
Act or other federal or state law, insofar as such Losses arise out of, or are
based upon, any Violation by the Shareholder, if and to the extent (and only to
the extent) that the statement or omission was made in reliance upon, and in
conformity with, written information furnished by, or on behalf of, the
Shareholder expressly for use in connection with such registration; and the
Shareholder will reimburse (as incurred) any Losses reasonably incurred by the
Company or its officers, directors, agents, employees, or underwriters or other
selling

 

 

shareholders or controlling persons in connection with investigating or
defending any such Violations; provided, however, that (i) the indemnity
agreement contained in this Section 2.6(b) shall not apply to amounts
paid in settlement of any claims for Violations if such settlement is made
without the consent of the Shareholder, which consent shall not be unreasonably
withheld, and (ii) the obligations of the Shareholder shall be limited to
an amount equal to the net proceeds to the Shareholder from the sale of Shares
in the transaction giving rise to the Violation.

 

(c)      Promptly
after receipt of notice of the commencement of any action (including any
governmental action), an indemnified party will, if a claim is to be made
against any indemnifying party under this Section 2.6, deliver to the
indemnifying party a written notice of the commencement, and the indemnifying
party shall have the right to participate in, and, to the extent the indemnifying
party so desires, jointly with any other indemnifying party similarly notified,
to assume the defense thereof with counsel mutually satisfactory to the
parties; provided, however, that an indemnified party shall have the right to
retain its own counsel, with the fees and expenses to be paid by the
indemnifying party if, in the opinion of counsel for the indemnifying party,
representation of such indemnified party by the counsel retained by the
indemnifying party would be inappropriate due to actual or potential differing
interests between such indemnified party and any other party represented by
such counsel in the proceeding.  The
failure to deliver written notice to the indemnifying party within a reasonable
period of time after notice of the commencement of any such action shall
relieve such indemnifying party of any liability to the indemnified party under
this Section 2.6 only to the extent such failure is prejudicial to the
ability of the indemnifying party to defend such action, but the omission to
deliver written notice to the indemnifying party will not relieve it of any
liability that it may have to any indemnified party otherwise than under this Section 2.6.

 

(d)      If the
indemnification provided for in this Section 2.6 is held by a court of
competent jurisdiction to be unavailable to an indemnified party with respect
to any Losses, then the indemnifying party, in lieu of indemnifying such
indemnified party, shall to the extent permitted by applicable law contribute
to the amount paid or payable by such indemnified party as a result of such
Losses in such proportion as is appropriate to reflect the relative fault of
the indemnifying party on the one hand and of the indemnified party on the
other in connection with the Violations that resulted in such Losses; provided,
that in no event shall any contribution by the Shareholder under this Section 2.6(d) exceed
the net proceeds to the Shareholder from the sale of the Shares in the
transaction giving rise to the Violation, except in the case of willful fraud
by the Shareholder.  The relative fault
of the indemnifying party and of the indemnified party shall be determined by
reference to, among other things, whether the Violation resulting in such
Losses relates to information supplied by the indemnifying party or by the
indemnified party and the parties’ relative intent, knowledge, access to
information and opportunity to correct or prevent such Violation.

 

(e)      Notwithstanding
the foregoing, to the extent that the provisions on indemnification and contribution
contained in the underwriting agreement entered into in connection with the
underwritten public offering are in conflict with the foregoing provisions, the
provisions in the underwriting agreement shall control.

 

 

(f)       The
obligations of the Company and the Shareholder under this Section 2.6
shall survive completion of any offering of Shares in a registration statement
and, with respect to liability arising from an offering to which this Section 2.6
would apply that is covered by a registration filed before termination of this
Agreement, such termination.  No
indemnifying party, in the defense of any such claim or litigation, shall,
except with the consent of each indemnified party, consent to entry of any
judgment or enter into any settlement which does not include as an
unconditional term thereof the giving by the claimant or plaintiff to such
Indemnified Party of a release from all liability in respect to such claim or
litigation.

 

2.7          Assignment of Registration Rights.  The rights to cause the Company to register
Shares pursuant to this Section 2 may be assigned by the Shareholder to a
transferee or assignee of Shares that (a) is a subsidiary, parent or
member of the Shareholder that is a corporation, partnership or limited
liability company, (b) is the Shareholder’s family member or trust for the
benefit of an individual Shareholder, or (c) is an entity affiliated by
common control (or other related entity) with such Shareholder; provided, however, (i) the
assignor or transferor shall, within ten (10) days after such transfer,
furnish to the Company written notice of the name and address of such
transferee or assignee and the securities with respect to which such
registration rights are being assigned and (ii) such assignee or
transferee shall agree to be subject to all restrictions set forth in this
Agreement.

 

2.8          “Market
Stand-Off” Agreement.  The Shareholder hereby agrees that, if
requested by the Company or the representative of the underwriters of equity
securities of the Company, the Shareholder shall not sell, dispose of,
transfer, make any short sale of, grant any option for the purchase of, or
enter into any hedging or similar transaction with the same economic effect as
a sale, any equity securities of the Company held by the Shareholder (other
than those included for sale in the registration or acquired in the Initial
Offering or in the open market thereafter) for a period specified by the
representative of the underwriters of equity securities of the Company not to
exceed one hundred eighty (180) days (or such longer period as the underwriters
or the Company shall request in order to facilitate compliance with NASD Rule 2711
or NYSE Member Rule 472 or any successor or similar rule or
regulation) following the effective date of a registration statement of the
Company filed under the Securities Act provided that the same lock-up is agreed
to by all directors and officers of the Company and shareholders individually
owning more than one percent (1%) of the Company’s outstanding Common Stock.

 

2.9          Agreement
to Furnish Information.  The Shareholder agrees to execute and deliver
such other agreements as may be reasonably requested by the Company or the
underwriter that are consistent with the the Shareholder’s obligations under Section
2.8 or that are necessary to give further effect thereto.  In addition, if requested by the Company or
the representative of the underwriters of equity securities of the Company, the
Shareholder shall provide, within ten (10) days of such request, such information
as may be required by the Company or such representative in connection with the
completion of any public offering of the Company’s securities pursuant to a
registration statement filed under the Securities Act.  The obligations described in Section 2.8 and
this Section 2.9 shall not apply to a Special Registration Statement.  The Company may impose stop-transfer
instructions with respect to the shares of Common Stock (or other securities)
subject to the foregoing restriction until the end of said day period.  The Shareholder agrees that any transferee of
any Shrares shall be bound by

 

 

Sections 2.8
and 2.9.  The
underwriters of the Company’s stock are intended third party beneficiaries of
Sections 2.8 and 2.9 and shall have the right, power and authority to enforce
the provisions hereof as though they were a party hereto.

 

2.10        Reports Under
Securities Acts.  With a view to
making available to the Shareholder the benefits of Rule 144 of the
Securities Act and any other rule or regulation that may at any time
permit the Shareholder to sell securities of the Company to the public without
registration or pursuant to a registration on Form S-3 or Form S-3B,
the Company agrees to use commercially reasonable efforts to:

 

(a)      Make
and keep public information available, as those terms are understood and
defined in Rule 144 of the Securities Act, at all times after ninety (90)
days from the effective date of the first registration statement filed by the
Company for the offering of its securities to the general public;

 

(b)      Take
such action, including the voluntary registration of its Common Stock under Section 12
of the Exchange Act, as is necessary to enable the Shareholder to utilize Form S-3
or Form S-3B for the sale of the Shares, such action to be taken as soon
as practicable after the end of the fiscal year in which the first registration
statement filed by the Company for the offering of its securities to the
general public is declared effective;

 

(c)      File
with the SEC in a timely manner all reports and other documents required of the
Company under the Securities Act and the Exchange Act; and

 

(d)      Furnish
to the Shareholder, so long as the the Shareholder owns any Shares, promptly
upon written request (i) a written statement by the Company that it has
complied with the reporting requirements of the Exchange Act (at any time after
ninety (90) days from the date on which it becomes subject to such reporting
requirements), or that it qualifies as a registrant whose securities may be
resold pursuant to Form S-3 or Form S-3B (at any time after it so
qualifies), (ii) a copy of the most recent annual or quarterly report of
the Company and such other reports and documents so filed by the Company, and (iii) such
other information as may be reasonably requested in availing the Shareholder of
any rule or regulation of the SEC that permits the selling of any such
securities without registration or pursuant to such Form S-3 or Form S-3B.

 

3.                                      MISCELLANEOUS.

 

3.1          Amendments and Waivers.  Any term of this Agreement may be amended and
the observance of any term may be waived (either generally or in a particular
instance and either retroactively or prospectively) only with the written
consent of the Company and the Shareholder.

 

3.2          Governing Law; Jurisdiction; Venue.  This Agreement shall be governed by and
construed under the laws of the State of Colorado without regard to principles
of conflict of laws.  The parties
irrevocably consent to the jurisdiction and venue of the state courts located
in Boulder County, Colorado and federal courts located in Denver, Colorado in
connection with any action relating to this Agreement.

 

 

3.3          Successors and Assigns.
Except as otherwise expressly provided herein, the provisions hereof shall
inure to the benefit of, and be binding upon, the parties hereto and their
respective successors, assigns, heirs, executors, and administrators and shall
inure to the benefit of and be enforceable by each person who shall be a holder
of Shares from time to time; provided,
however, that prior to the receipt by the Company of adequate
written notice of the transfer of any Shares specifying the full name and
address of the transferee, the Company may deem and treat the person listed as
the holder of such shares in its records as the absolute owner and holder of such
shares for all purposes, including the payment of dividends or any redemption
price.

 

3.4          Severability.  If one or more provisions of this Agreement
are held to be unenforceable under applicable law, such provision shall be
excluded from this Agreement, and the balance of this Agreement shall be
interpreted as if such provision was so excluded and shall be enforceable in
accordance with its terms.

 

3.5          Entire Agreement; Counterparts.  This Agreement constitutes the entire
agreement between the parties about its subject and supersedes all prior
agreements.  This Agreement may be
executed in two or more counterparts, which together shall constitute one
instrument.

 

3.6          Notices.  All
notices required or permitted hereunder shall be in writing and shall be deemed
effectively given: (a) upon personal delivery to the party to be notified,
(b) when sent by confirmed electronic mail or facsimile if received during
normal business hours of the recipient; if not, then on the next business day, (c) five (5) days
after deposit with the United States Post Office, by registered or certified
mail, return receipt requested, postage prepaid, or (d) one (1) business
day after deposit with a nationally recognized overnight courier, specifying
next day delivery, with verification of receipt.  All communications shall be sent to the party
to be notified at the address as such party may designate to the other parties
hereto.

 

3.7          Attorneys’ Fees.  In the event that any suit or action is
instituted to enforce any provision in this Agreement, the prevailing party in
such dispute shall be entitled to recover from the losing party all fees, costs
and expenses of enforcing any right of such prevailing party under or with
respect to this Agreement, including, without limitation, such reasonable fees
and expenses of attorneys and accountants, which shall include, without
limitation, all fees, costs and expenses of appeals.

 

3.8          Aggregation.  All Shares held or acquired by affiliated
entities or persons or persons or entities under common management or control
shall be aggregated together for the purpose of determining the availability of
any rights under this Agreement.

 

3.9          Titles and Subtitles.  The titles of the sections
and subsections of this Agreement are for convenience of reference only and are
not to be considered in construing this Agreement.

 

3.10        Pronouns.  All pronouns contained herein, and any
variations thereof, shall be deemed to refer to the
masculine, feminine or neutral, singular or plural, as to the identity of the
parties hereto may require.

 

 

[Signature page follows.]

 

 

IN WITNESS
WHEREOF, the parties hereto have executed this Registration
Rights Agreement as of the date set forth in the first paragraph hereof.

 

 

	
  COMPANY:

  
	
   

  
	
  CROWDFUNDER, INC.

  
	
   

  
	
  By: 

  	
  /s/ MARK KRELOFF

  	
   

  
	
  Name: Mark Kreloff

  
	
  Title: Chairman/CEO

  
	
   

  
	
   

  
	
  SHAREHOLDER:

  
	
   

  
	
  GUBB,
  INC.

  
	
   

  
	
  By: 

  	
  /s/ JOE BERGERON

  	
   

  
	
  Name: Joe Bergeron

  
	
  Title: President

  

 

Signature Page to Registration Rights AgreementExhibit 10.1

 

Execution Version

 

ASSET PURCHASE AGREEMENT

 

Dated as of July 20, 2008

 

by and between

 

CROWDFUNDER, INC.

 

and

 

Gubb, inc.

 

 

TABLE OF CONTENTS

 

	
   

  	
   

  	
   

  	
   

  	
  Page

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  SECTION 1.

  	
   

  	
  Certain
  Definitions

  	
   

  	
  1

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  SECTION 2.

  	
   

  	
  Transfer
  of Assets and Payment of Purchase Price

  	
   

  	
  3

  
	
  2.1

  	
   

  	
  Agreement to Sell and Purchase

  	
   

  	
  3

  
	
  2.2

  	
   

  	
  [Intentionally Omitted]

  	
   

  	
  3

  
	
  2.3

  	
   

  	
  Excluded Liabilities

  	
   

  	
  3

  
	
  2.4

  	
   

  	
  Purchase Price

  	
   

  	
  3

  
	
  2.5

  	
   

  	
  Closing. The closing of the sale of the Assets to
  Buyer and all related transactions described herein (the “Closing”) shall
  take place remotely via the exchange of documents and signatures on the later
  of (a) July 20, 2008 or (b) seven (7) business days
  following the effectiveness of the Buyer’s registration statement with the Securities
  and Exchange Commission), or at such other time and place as the Buyer and
  Seller mutually agree upon, orally or in writing (such date, the “Closing
  Date”)

  	
   

  	
  4

  
	
  2.6

  	
   

  	
  Closing Costs; Transfer Taxes and Fees

  	
   

  	
  4

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  SECTION 3.

  	
   

  	
  Representations
  and Warranties of Seller

  	
   

  	
  4

  
	
  3.1

  	
   

  	
  Authorization

  	
   

  	
  4

  
	
  3.2

  	
   

  	
  Consents; No Conflicts

  	
   

  	
  4

  
	
  3.3

  	
   

  	
  Title to Assets

  	
   

  	
  5

  
	
  3.4

  	
   

  	
  Intellectual Property

  	
   

  	
  5

  
	
  3.5

  	
   

  	
  Liabilities. There are no accrued, contingent or
  other Liabilities of any nature, either matured or unmatured relating to the
  Assets except for: (a) Liabilities incurred by the Seller in connection
  with the Assets in the ordinary course of business consistent with the past
  practices of Seller not yet due and payable and (b) Liabilities of the
  Seller under the Acquired Contracts not yet due and payable

  	
   

  	
  6

  
	
  3.6

  	
   

  	
  Contracts

  	
   

  	
  7

  
	
  3.7

  	
   

  	
  Compliance with Law; Legal Proceedings

  	
   

  	
  7

  
	
  3.8

  	
   

  	
  Permits and Licenses

  	
   

  	
  7

  
	
  3.9

  	
   

  	
  Tax Matters

  	
   

  	
  7

  
	
  3.10

  	
   

  	
  Governmental Approvals

  	
   

  	
  7

  
	
  3.11

  	
   

  	
  Non Contravention; Consents. Neither the execution
  and delivery by the Seller of any of the Transaction Documents, nor the
  consummation or performance by the Seller of any of the transactions
  contemplated hereby, will directly or indirectly (with or without notice or
  lapse of time):

  	
   

  	
  7

  
	
  3.12

  	
   

  	
  Brokers. The Seller has not agreed or become obligated
  to pay, nor has Seller taken any action that might result in any Person
  claiming to be entitled to receive, any brokerage commission, finder’s fee or
  similar commission or fee in connection with any of the Transactions

  	
   

  	
  8

  
	
  3.13

  	
   

  	
  Representations and Warranties

  	
   

  	
  8

  

 

i

 

	
  SECTION 4.

  	
   

  	
  Representations
  and Warranties of Buyer

  	
   

  	
  8

  
	
  4.1

  	
   

  	
  Authorization

  	
   

  	
  8

  
	
  4.2

  	
   

  	
  Litigation. There are no actions, suits, proceedings
  or investigations pending, or to the Buyer’s Knowledge, threatened, that
  question the validity of this Agreement or any of the other Transaction
  Documents or the consummation of the transactions contemplated thereby

  	
   

  	
  8

  
	
  4.3

  	
   

  	
  Approvals. All consents, approvals, authorizations
  and orders (corporate, governmental or otherwise) necessary for the due
  authorization, execution and delivery by Buyer of this Agreement and the
  consummation of the transactions contemplated hereby have been obtained or
  will be obtained prior to the Closing Date (subject to any necessary filings
  required by applicable securities laws that may properly be obtained
  following the Closing Date)

  	
   

  	
  8

  
	
  4.4

  	
   

  	
  Brokers. The Buyer has not agreed or become
  obligated to pay, nor has Buyer taken any action that might result in any
  Person claiming to be entitled to receive, any brokerage commission, finder’s
  fee or similar commission or fee in connection with any of the Transactions

  	
   

  	
  9

  
	
  4.5

  	
   

  	
  Representations and Warranties

  	
   

  	
  9

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  SECTION 5.

  	
   

  	
  Deliveries
  of Seller on the Closing Date

  	
   

  	
  9

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  SECTION 6.

  	
   

  	
  Deliveries
  of Buyer on the Closing Date

  	
   

  	
  9

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  SECTION 7.

  	
   

  	
  Additional
  Agreements and Covenants

  	
   

  	
  9

  
	
  7.1

  	
   

  	
  Cooperation of Buyer and Seller

  	
   

  	
  9

  
	
  7.2

  	
   

  	
  Further Assurances of Seller and Buyer

  	
   

  	
  9

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  SECTION 8.

  	
   

  	
  Indemnification

  	
   

  	
  10

  
	
  8.1

  	
   

  	
  Indemnification by Seller

  	
   

  	
  10

  
	
  8.2

  	
   

  	
  Indemnification by Buyer

  	
   

  	
  10

  
	
  8.3

  	
   

  	
  Procedures for Third-Party Indemnification

  	
   

  	
  10

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  SECTION 9.

  	
   

  	
  Survival
  of Representations; Effect of Certificates

  	
   

  	
  10

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  SECTION 10.

  	
   

  	
  Brokerage
  Indemnity

  	
   

  	
  10

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  SECTION 11.

  	
   

  	
  Notices

  	
   

  	
  11

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  SECTION 12.

  	
   

  	
  Termination

  	
   

  	
  11

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  SECTION 13.

  	
   

  	
  Miscellaneous

  	
   

  	
  12

  
	
  13.1

  	
   

  	
  Entire Agreement

  	
   

  	
  12

  
	
  13.2

  	
   

  	
  Governing Law

  	
   

  	
  12

  
	
  13.3

  	
   

  	
  Representation by Counsel

  	
   

  	
  12

  
	
  13.4

  	
   

  	
  Benefit of Parties; Assignment

  	
   

  	
  12

  
	
  13.5

  	
   

  	
  Pronouns

  	
   

  	
  13

  
	
  13.6

  	
   

  	
  Headings

  	
   

  	
  13

  
	
  13.7

  	
   

  	
  Expenses

  	
   

  	
  13

  
	
  13.8

  	
   

  	
  Counterparts and Facsimiles

  	
   

  	
  13

  

 

ii

 

	
  13.9

  	
   

  	
  Dispute Resolution

  	
   

  	
  13

  
	
  13.10

  	
   

  	
  Confidentiality

  	
   

  	
  14

  

 

iii

 

EXHIBITS

 

	
  Exhibit A

  	
   

  	
  Assets

  
	
  Exhibit B

  	
   

  	
  Excluded Assets

  
	
  Exhibit C

  	
   

  	
  Form of Bill of Sale and Assignment Agreement

  
	
  Exhibit D

  	
   

  	
  Form of Registration Rights Agreement

  

 

i

 

ASSET PURCHASE AGREEMENT

 

This ASSET PURCHASE AGREEMENT (this “Agreement”),
dated as of July 20, 2008, is by and between CROWDFUNDER, INC., a Colorado
corporation (“Buyer”), and GUBB, INC., a California corporation (“Seller”).

 

RECITALS:

 

A.                                   Seller owns certain software
identified on Exhibit A hereto (the “Software”) and certain
other assets commonly known as “Gubb.net”.

 

B.                                     Buyer desires to purchase
from Seller, and Seller desires to sell to Buyer, on the terms and conditions
set forth herein, all of Seller’s right, title and interest in and to the
Software and certain other assets.

 

AGREEMENT

 

NOW, THEREFORE, in consideration of the
foregoing, and the mutual agreements, representations, warranties and covenants
contained herein, and for other good and valuable consideration set forth
herein, the parties hereto agree as follows:

 

SECTION 1.    Certain
Definitions.  For purposes of this
Agreement, in addition to the terms defined elsewhere in this Agreement, the
following terms shall have the respective meanings set forth below:

 

“Actions” mean any claims, actions,
suits, proceedings and investigations, whether at law or in equity, before any
court, arbitrator, arbitration panel or Governmental Authority.

 

“Affiliate” of a party means any
Person that, directly or indirectly, controls, is controlled by, or is under
common control with, such party.

 

“Assets” means the Software and any
other assets that are identified on Exhibit A hereto; provided, however,
that the Assets shall not include any Excluded Assets.

 

“Assignment Agreement” means the Bill
of Sale and Assignment Agreement between Buyer and Seller pursuant to which the
Seller shall deliver good, valid and marketable title in and to the Assets to
Buyer.

 

“Closing” means the closing of the
transactions contemplated hereby.

 

“Code” means the Internal Revenue Code
of 1986, as amended, and the rules and regulations thereunder.

 

“Contracts” means all contracts,
agreements, indentures, licenses, leases, commitments, plans, arrangements,
sales orders and purchase orders of every kind, and all amendments thereto and
modifications thereof, in each case whether written or oral.

 

 

“Damages” means losses, liabilities,
obligations, penalties, costs, damages, claims and expenses (including
reasonable costs of investigation and attorneys’ fees and disbursements).

 

“Excluded Assets” means and includes
all assets identified on Exhibit B hereto.

 

“Governmental Authority” means any
agency, instrumentality, department, commission, court, tribunal or board of
any government, whether foreign or domestic and whether national, Federal,
state, provincial or local.

 

“Intellectual Property Rights” means
any intellectual property, industrial property and any other proprietary rights
that may exist or be created under the laws of any jurisdiction throughout the
world, including all Proprietary Rights, any applications for registration and
registrations of the foregoing property and the foregoing rights (whether
pending, existing, abandoned or expired), and any physical embodiments of the
foregoing property and the foregoing rights.

 

“Laws” means, with respect to a
Person, all applicable laws, rules, regulations, codes, orders, ordinances,
judgments, injunctions, decrees and policies.

 

“Legal Requirement” means any federal,
state, local, municipal, foreign or other law, statute, legislation,
constitution, principle of common law, resolution, ordinance, code, edict,
decree, proclamation, treaty, convention, rule, regulation, ruling, directive,
pronouncement, requirement, specification, determination, decision, opinion or
interpretation issued, enacted, adopted, passed, approved, promulgated, made,
implemented or otherwise put into effect by or under the authority of any
Governmental Authority.

 

“Liabilities” means debts,
liabilities, claims, obligations, duties and responsibilities of any kind and
description, whether absolute or contingent, monetary or non-monetary, direct
or indirect, known or unknown, matured or unmatured, or of any other nature.

 

“Lien” means any security interest,
lien, mortgage, claim, charge, pledge, restriction, equitable interest or
encumbrance of any nature.

 

“Open Source Materials” software code
that is distributed as “free software” or “open source software” or is
otherwise distributed publicly in source code form under terms that permit
modification and redistribution of such software, including, without
limitation, software code that is licensed under the GNU General Public
License, GNU Lesser General Public License, Mozilla License, Common Public
License, Apache License, BSD License, Artistic License, or Sun Community Source
License.

 

“Person” means any natural person,
corporation, trust, business trust, joint venture, association, company, firm,
partnership, limited liability company or other entity or government or
Governmental Authority.

 

“Proprietary Rights” means all of
Seller’s registered copyrights and all applications therefor, unregistered
copyrights, registered trademarks and all applications therefor, unregistered
trademarks, service marks, trade names, internet domain names, logos, designs,
trade secrets, know-how, customer lists and general intangible assets.

 

2

 

“Seller’s Knowledge” means the
knowledge, assuming due inquiry, of Joseph Bergeron III.

 

“Registration Rights Agreement” means
the agreement by and between Seller and Buyer relating to the shares of
restricted stock issued to Seller in consideration for the Assets.

 

“Taxes” mean all taxes, charges, fees,
levies, customs, duties or other assessments, including, without limitation,
income, gross receipts, excise, real and personal property, sales, transfer,
license, payroll and franchise taxes imposed by any Governmental Authority and
shall include any interest, penalties or additions to tax attributable to any
of the foregoing.

 

“Tax Return” means any return
(including any information return), report, statement, declaration, estimate,
schedule, notice, notification, form, election, certificate or other document
or information that is, has been or may in the future be filed with or
submitted to, or required to be filed with or submitted to, any Governmental
Authority in connection with the determination, assessment, collection or
payment of any Tax or in connection with the administration, implementation or
enforcement of or compliance with any Legal Requirement relating to any Tax.

 

“Transaction Documents” means,
collectively, this Agreement, the Assignment and Assumption Agreement, the
Registration Rights Agreement, and the other documents, instruments and
agreements to be executed and delivered in connection with the transactions
contemplated hereby or thereby.

 

SECTION 2.   Transfer
of Assets and Payment of Purchase Price.

 

2.1       Agreement
to Sell and Purchase.  Based upon and
subject to the terms and conditions, and representations and warranties, of
this Agreement, Seller hereby agrees to sell, convey, transfer, assign and
deliver to Buyer on the Closing Date, and Buyer hereby agrees to purchase and
accept on the Closing Date, all right, title or interest of Seller in and to
the Assets, free and clear of all Liens and Liabilities.

 

2.2       [Intentionally
Omitted].

 

2.3       Excluded
Liabilities.  Except as expressly
specified in Section 2.2, Buyer shall not assume, or otherwise be
responsible for, any of Seller’s Liabilities (collectively, the “Excluded
Liabilities”).

 

2.4       Purchase
Price.

 

(a)      Upon
the terms and subject to the conditions set forth herein, Buyer shall issue to
Seller in consideration for the Assets 920,000 shares of restricted common
stock of the Buyer at a per share price of $0.2725 for a total purchase price
of $250,700 (the “Purchase Price”).

 

(b)      Within
60 days following the Closing Date, the Buyer and the Seller shall mutually
agree on a written statement setting forth the parties’ good faith
determination of the manner in which the consideration referred to in Section 2.4(a) is
to be allocated among the

 

3

 

Assets. 
The parties acknowledge and agree that such allocation is consistent
with Section 1060 of the Code.  The
allocation prescribed by such statement shall be conclusive and binding upon
the parties for all purposes, and neither party shall file any Tax Return or
other document with, or make any statement or declaration to, any Governmental
Authority that is inconsistent with such allocation, unless required by an
applicable Legal Requirement.

 

2.5       Closing.  The closing of the sale of the Assets to
Buyer and all related transactions described herein (the “Closing”)
shall take place remotely via the exchange of documents and signatures on the
later of (a) July 20, 2008 or (b) seven (7) business days
following the effectiveness of the Buyer’s registration statement with the
Securities and Exchange Commission), or at such other time and place as the
Buyer and Seller mutually agree upon, orally or in writing (such date, the “Closing
Date”).

 

2.6       Closing
Costs; Transfer Taxes and Fees. 
Seller shall be responsible for any and all transfer Taxes and any sales
or other Taxes imposed by reason of the transfers of Assets provided hereunder
and any deficiency, interest or penalty asserted with respect thereto.  Seller shall pay the fees and costs of
recording or filing all applicable conveyance instruments, and shall pay the
fees and costs of recording or filing all UCC termination statements and other
releases of Liens necessary to deliver the Assets as contemplated herein.

 

SECTION 3.   Representations
and Warranties of Seller.  Seller
represents and warrants to Buyer as follows:

 

3.1       Authorization.  Seller is duly incorporated, validly existing
and in good standing under the laws of the State of California.  Seller has the power and authority to own,
operate, lease, possess or dispose of the properties, including the Assets,
that it purports to own, operate, possess or lease and to own and operate its
business as currently conducted.  Seller
has the power, authority and legal right to execute, deliver and perform its
obligations under the Transaction Documents to which it is a party.  Each Transaction Document executed and
delivered by Seller has been duly executed and delivered thereby, and
constitutes the legal, valid and binding obligation of Seller, enforceable
against Seller in accordance with their respective terms (except as limited by
applicable bankruptcy, insolvency, reorganization, moratorium or other similar
laws now or hereafter in effect relating to or affecting creditors’ rights
generally and subject to the limitations imposed by general equitable
principles (regardless of whether such enforceability is considered in a proceeding
at law, in equity or in arbitration)).

 

3.2       Consents;
No Conflicts.  No consent, approval,
waiver of, notice to, or filing with, any other Person is required on behalf of
Seller in connection with the execution, delivery or performance by it of the
Transaction Documents executed and delivered by Seller, or the consummation of
the transactions contemplated thereby. 
The execution and delivery by Seller of the Transaction Documents
executed and delivered by Seller do not, and the performance by Seller of its
obligations thereunder and the consummation of the transactions contemplated
thereby do not (a) violate or conflict with any provision of Seller’s
Certificate of Incorporation or bylaws, (b) violate or breach, or (with or
without the giving of notice or lapse of time or both) constitute a default (or
give rise to any right of termination or cancellation) under, or give rise to
or accelerate any material obligation under, any contract to which Seller is a
party or by which Seller or any of its assets are bound; or (c) violate
any Law.

 

4

 

3.3       Title to Assets.  The Seller owns and has good, valid and
marketable title to all of the Assets, including without limitation all of the
Intellectual Property Rights included in the Assets.  All of the Assets are owned by the Seller
free and clear of any Liens.  Following
the Closing, Buyer will have good and valid title to the Assets, free and clear
of all title defects, objections or Liens and Liabilities.  None of the Assets are being leased or
licensed to the Seller.

 

3.4       Intellectual Property.

 

(a)           The Seller owns or possesses sufficient right, title and
interest in and to all Intellectual Property Rights necessary for the
utilization of the Assets as now utilized and as presently proposed to be
utilized by Buyer, which Assets are sufficient to allow the Buyer to continue
to utilize the Assets at and following the Closing (collectively, “Business
Intellectual Property Rights”).  Exhibit A
lists all Business Intellectual Property Rights subject to a registration or
application for registration of any kind and any material Business Intellectual
Property Rights regardless of whether subject to an registration or application
for registration, and specifies as to each all such Business Intellectual
Property Rights, (i) the nature of the Business Intellectual Property
Right, (ii) the owner of the Business Intellectual Property Right (and, in
the case that the Seller is not the owner, the nature of the rights held by the
Seller); and (iii) the jurisdictions by or in which such Business
Intellectual Property Right has been issued or registered or in which an
application for such issuance or registration has been filed, including the
respective registration or application numbers and dates of issuance,
registration or filing.

 

(b)           The Seller is the sole and exclusive owner of all right,
title and interest in and to the Business Intellectual Property Rights free and
clear of all encumbrances or other rights, licenses, equities or claims.  Other than with respect to generally
commercially available software products obtained by the Seller in object code
form under standard end-user license agreements, there are no outstanding
options, licenses, agreements, claims, encumbrances, obligations or shared
ownership interests of any kind relating to the Business Intellectual Property
Rights, nor is the Seller bound by or a party to any options, licenses,
obligations or agreements of any kind with respect to the Intellectual Property
Rights of any other person or entity. 
All of the Business Intellectual Property Rights are valid, subsisting
and enforceable.  The Company has taken
reasonable steps to protect, preserve and maintain the Business Intellectual
Property Rights.

 

(c)           To the Seller’s knowledge, the Assets, as utilized in the
past, as now utilized, and as presently proposed to be utilized by Buyer does
not and will not, and the products and services developed, marketed or sold (or
proposed to be developed, marketed or sold) by the Seller do not and will not,
infringe, misappropriate or otherwise violate any Intellectual Property Rights
of any other party.  To the Seller’s
knowledge, no person has infringed, misappropriated or otherwise violated, and
is not now infringing, misappropriating or otherwise violating, any Business
Intellectual Property Rights.  The Seller
has not received any communications alleging, and otherwise has no knowledge of
(i) the invalidity or unenforceability of any Business Intellectual
Property Rights, (ii) any infringement, misappropriation or other
violation or breach by the Seller of any Intellectual Property Rights of any
other person, or (iii) any conflict between the rights held by the Seller
in any Intellectual Property Rights and the rights of any other person.  For purposes of this Section 3.4, the
Seller shall be deemed to have knowledge of a patent right if the Seller has
actual knowledge of the

 

5

 

patent right or would be found to be on
notice of such patent right as determined by reference to United States patent
laws.

 

(d)           It will not be necessary to use in connection with the
Assets as now utilized and as presently proposed to be utilized by Buyer any
Intellectual Property Rights invented, conceived of, authored, created, reduced
to practice or developed by any of its employees or contractors prior to their
employment or engagement by the Seller. 
Each employee and contractor of the Seller has assigned to the Seller
pursuant to a legally binding agreement all Intellectual Property Rights he or
she owns or possesses that are related to the Business Intellectual Property
Rights and the Assets as now utilized and as presently proposed to be utilized
by Seller.  The execution nor delivery of
this Agreement will not, to the Seller’s Knowledge, conflict with or result in
a breach of the terms, conditions or provisions of, or constitute a default
under, any agreement, contract, covenant or instrument under which any of such
employees or contractor is now obligated. 
No employee or contractor of the Seller is in default or breach of any
term of any employment agreement, nondisclosure agreement, assignment of
invention agreement or similar agreement or contract relating in any way to the
protection, ownership, development, use or transfer of the Business
Intellectual Property Rights.

 

(e)           At no time during the conception or reduction to practice
of any the Business Intellectual Property Rights was any developer, inventor,
author or other contributor to such Business Intellectual Property Rights
operating under any grants from any governmental entity or agency or private
source, performing research sponsored by any governmental entity or agency or
private source, or subject to any employment agreement or invention assignment
or nondisclosure agreement or other obligation with any third party that could
adversely affect the Seller’s rights in such Business Intellectual Property
Rights.

 

(f)            Exhibit A lists all Open Source Materials
ever utilized or distributed in any manner or form by the Company and lists the
license applicable to the Open Source Materials, lists all Assets with which
the Open Source Materials are utilized or distributed, and describes the manner
in which the Open Source Materials have been utilized or distributed.  Without limiting the foregoing, as to any
Open Source Materials ever utilized or distributed by the Company, the Company
is in compliance with the terms of each license applicable to the Open Source
Materials, and none of the licenses applicable to the Open Source Materials, as
a condition of the use or distribution of the Open Source Materials, require or
impose any limitation, restriction or condition on the use or distribution of
any other software incorporated into, derived from or used or distributed with
the Open Source Materials.

 

(g)           The Seller is in compliance with (i) all applicable
laws governing the collection, use or transfer of personal information, (ii) the
privacy policies of Seller and Seller’s customers, and (iii) related
policies, programs or other notices applicable to Seller’s collection or use of
personal information.

 

3.5           Liabilities.  There are no accrued, contingent or other
Liabilities of any nature, either matured or unmatured relating to the Assets
except for:  (a) Liabilities
incurred by the Seller in connection with the Assets in the ordinary course of
business consistent with the past practices of Seller not yet due and payable
and (b) Liabilities of the Seller under the Acquired Contracts not yet due
and payable.

 

6

 

3.6           Contracts. 
The Seller is not a party to, or bound to, any Contracts that relate to
the ownership and operation of any of the Assets.

 

3.7           Compliance with Law; Legal Proceedings.  Seller has, in connection with the ownership
of the Assets, complied in all material respects with all Laws, and there are
no known violations of any Law.  Seller
has not received, at any time prior to the Closing Date, from any Person any
written or oral claim of violation of any Law arising from or in connection with
Seller’s ownership of the Assets.  There
are no Actions pending or, to Seller’s Knowledge, threatened against or
affecting the Assets.

 

3.8           Permits and Licenses.  The Seller does not have any local,
municipal, state and federal consents, orders, filings, franchisees, permits,
licenses, agreements, waivers and authorizations required in connection with
the ownership of the Assets.

 

3.9           Tax Matters.

 

(a)           The Seller has filed all Tax Returns with respect to the
Assets that it was required to file and all such Tax Returns were correct and
complete in all material respects.  All
Taxes owed by the Seller (whether or not shown on any Tax Return) have been
paid.  The Seller is not currently the
beneficiary of any extension of time within which to file any Tax Return.

 

(b)           There is no material dispute or claim concerning any Tax
Liability of the Seller with respect to the Assets either (i) claimed or
raised by any authority in writing or (ii) as to which the Seller
otherwise has Knowledge.  There are no
Liens on any of the Assets that arose in connection with any failure (or
alleged failure) to pay any Tax.

 

(c)           The Seller has not waived any statute of limitations in
respect of Taxes or agreed to any extension of time with respect to a Tax
assessment or deficiency.

 

3.10         Governmental Approvals.  To Seller’s Knowledge, no authorization,
approval, order, license, permit, franchise or consent of any Governmental
Authority and no registration, declaration or filing by Seller with any
Governmental Authority is required in connection with the execution and delivery
of the Transaction Documents and the consummation of the transactions
contemplated hereby.

 

3.11         Non Contravention; Consents.  Neither the execution and delivery by the
Seller of any of the Transaction Documents, nor the consummation or performance
by the Seller of any of the transactions contemplated hereby, will directly or
indirectly (with or without notice or lapse of time):

 

(a)           to the Knowledge of Seller, contravene, conflict with or
result in a violation of, or give any Governmental Authority or other Person
the right to challenge any of the transactions contemplated hereby or to
exercise any remedy or obtain any relief under, any Legal Requirement or any
order to which the Seller or any of the Assets is subject;

 

(b)           cause the Buyer or any Affiliate of the Buyer to become
subject to, or to become liable for the payment of, any Tax;

 

7

 

(c)           contravene, conflict with or result in a violation of any
of the terms or requirements of, or give any Governmental Authority the right
to revoke, withdraw, suspend, cancel, terminate or modify, any governmental
authorization included in the Assets;

 

(d)           contravene, conflict with or result in a violation or
breach of, or result in a default under, any provision of any Contract to which
Seller is a party or to which either is otherwise bound;

 

(e)           give any Person the right to (i) declare a default or
exercise any remedy under any Contract, (ii) accelerate the maturity or
performance of any Contract, or (iii) cancel, terminate or modify any
Contract; or

 

(f)            result in the imposition or creation of any Lien upon or
with respect to any of the Assets.

 

3.12         Brokers.  The
Seller has not agreed or become obligated to pay, nor has Seller taken any
action that might result in any Person claiming to be entitled to receive, any
brokerage commission, finder’s fee or similar commission or fee in connection
with any of the Transactions.

 

3.13         Representations and Warranties.  The representations and warranties contained
in this Section 3 do not contain any untrue statement of a fact or omit to
state a fact necessary in order to make the statements made not
misleading.  To Seller’s Knowledge, there
are no other facts or circumstances not disclosed herein that may adversely
affect the value of the Assets.

 

SECTION 4.    Representations
and Warranties of Buyer.  Buyer
represents and warrants to Seller as follows:

 

4.1           Authorization. 
Buyer is a corporation duly organized, validly existing and in good
standing under the laws of the State of Colorado.  Buyer has the power,
authority and legal right to execute, deliver and perform its obligations under
the Transaction Documents to which it is a party.  Each Transaction Document executed and
delivered by Buyer has been duly executed and delivered thereby, and
constitutes the legal, valid and binding obligation of Buyer enforceable
against it in accordance with their respective terms (except as limited by
applicable bankruptcy, insolvency, reorganization, moratorium or other similar
laws now or hereafter in effect relating to or affecting creditors’ rights
generally and subject to the limitations imposed by general equitable
principles (regardless of whether such enforceability is considered in a
proceeding at law, in equity or in arbitration)).

 

4.2           Litigation. 
There are no actions, suits, proceedings or investigations pending, or
to the Buyer’s Knowledge, threatened, that question the validity of this
Agreement or any of the other Transaction Documents or the consummation of the
transactions contemplated thereby.

 

4.3           Approvals. 
All consents, approvals, authorizations and orders (corporate,
governmental or otherwise) necessary for the due authorization, execution and
delivery by Buyer of this Agreement and the consummation of the transactions contemplated
hereby have been obtained or will be obtained prior to the Closing Date
(subject to any necessary filings

 

8

 

required by applicable securities laws that
may properly be obtained following the Closing Date).

 

4.4           Brokers.  The
Buyer has not agreed or become obligated to pay, nor has Buyer taken any action
that might result in any Person claiming to be entitled to receive, any
brokerage commission, finder’s fee or similar commission or fee in connection
with any of the Transactions.

 

4.5           Representations and Warranties.  The representations and warranties contained
in this Section 4 do not contain any untrue statement of a fact or omit to
state a fact necessary in order to make the statements made not misleading with
respect to the power and authority of Buyer to execute and deliver this
Agreement and to consummate the transactions contemplated hereby.

 

SECTION 5.    Deliveries of
Seller on the Closing Date.  Seller agrees on the Closing Date to deliver
to Buyer the following (a) the Assignment Agreement in the form attached
as Exhibit C, (b) the Registration Rights Agreement in the
form attached as Exhibit D, (c) the assignment of other
documents as counsel for Buyer may reasonably request or may otherwise be
reasonably necessary for the purpose of consummating the transactions described
herein, and (d) evidence satisfactory to Buyer that all required consents
and approvals, or waivers, for the execution and delivery of this Agreement and
the consummation of the transactions contemplated hereby shall have been
obtained.

 

SECTION 6.    Deliveries
of Buyer on the Closing Date.  Buyer
agrees on the Closing Date to deliver to Seller the following (a) the
Purchase Price to be delivered pursuant to Section 2.4, (b) the
Assignment Agreement in the form attached as Exhibit C and (c) the
Registration Rights Agreement in the form attached as Exhibit D.

 

SECTION 7.    Additional
Agreements and Covenants.

 

7.1           Cooperation of Buyer and Seller.  Seller will cooperate with Buyer, and Seller
will use all reasonable efforts to have employees of Seller cooperate with
Buyer, at Buyer’s request and expense, after the Closing in furnishing
information, evidence, testimony and other assistance in connection with any
Actions involving Seller and based upon, acts of Seller that were in effect or
occurred on or prior to the Closing with respect to the Assets.  Additionally, Buyer and Seller shall
cooperate fully, as and to the extent reasonably requested by the other party,
in connection with any audit, litigation or other Action, or other matters
relating to the period prior to the Closing Date.

 

7.2           Further Assurances of Seller and Buyer.  Seller agrees at any time and from time to
time after the Closing, upon the request of Buyer, to do, execute, acknowledge
and deliver, or to cause to be done, executed, acknowledged and delivered, all
such further acts, assignments, transfers, powers of attorney and assurances as
may be required for the better assigning, transferring and conveying to Buyer,
or to any Person to whom Buyer assigns this Agreement, of the Assets, and to
carry out the terms and conditions of this Agreement.  Buyer agrees at any time and from time to
time after the Closing, upon the request of Seller, to do or

 

9

 

cause to be done all such further acts as may
be required to carry out the terms and conditions of this Agreement.

 

SECTION 8.    Indemnification.

 

8.1           Indemnification by Seller.  Seller agrees to indemnify Buyer and its
shareholders, Affiliates, successors, all past and present employees, officers,
directors, agents, insurers and assigns of Buyer against and hold it, him or
her harmless from any and all Damages that Buyer or its shareholders,
Affiliates, successors, all past and present employees, officers, directors,
agents, insurers and assigns of Buyer may sustain at any time by reason of any
of the Excluded Liabilities or the breach or inaccuracy of, or failure by
Seller to comply with, any of the warranties, representations, conditions,
covenants or agreements of Seller contained in this Agreement or in any
agreement, certificate or document executed and delivered pursuant to or in
connection with this Agreement or the Closing.

 

8.2           Indemnification by Buyer.  Buyer agrees to indemnify and hold Seller and
its shareholders, Affiliates, successors, all past and present employees,
officers, directors, agents, insurers and assigns of Seller harmless from and
against any and all Damages that it, she or he may sustain at any time by
reason of any breach or inaccuracy of, or failure by Buyer to comply with, any
warranties, representations, conditions, covenants or agreements of Buyer
contained in this Agreement or in any agreement, certificate or document
executed and delivered pursuant to or in connection with this Agreement or the
Closing

 

8.3           Procedures for Third-Party Indemnification.  In those instances in which a third-party
claim is asserted against any party hereto, or any party hereto is made a party
defendant in any third-party action or proceeding, and such claim, action or
proceeding involves a matter that is the subject of this indemnification, then
such party (an “Indemnified Party”) shall give written notice to the
other party hereto (the “Indemnifying Party”) of such claim, action or
proceeding, and such Indemnifying Party shall have the right to join in the
defense of said claim, action or proceeding at such Indemnifying Party’s cost
and expense and, if the Indemnifying Party agrees in writing to be bound by and
to promptly pay the full amount of any final judgment from which no further
appeal may be taken and, if the Indemnified Party is reasonably assured of the
Indemnifying Party’s ability to satisfy such agreement, then at the option of
the Indemnifying Party, such Indemnifying Party may take over the defense of
such claim, action or proceeding, except that, in such case, the Indemnified
Party shall have the right to join in the defense of said claim, action or
proceeding at its own cost and expense.

 

SECTION 9.    Survival
of Representations; Effect of Certificates. 
The parties hereto agree that all representations, warranties,
covenants, conditions and agreements contained herein or in any instrument or
other document delivered pursuant to this Agreement or in connection with the
transactions contemplated hereby shall survive the Closing.

 

SECTION 10.    Brokerage
Indemnity.  Buyer and Seller each
represent to the other that no broker or finder has been involved with any of
the transactions relating to this Agreement. 
In the event of a claim by any broker or finder that such broker or
finder represented or was retained by Seller or Buyer, Seller or Buyer, as the
case may be, agrees to indemnify and hold the other harmless from and against
any and all loss, liability, cost, damage, claim and expense, including,
without

 

10

 

limitation, attorneys’ fees and
disbursements, which may be incurred in connection with such claim.

 

SECTION 11.    Notices.  All notices, requests, demands and other
communications provided for by this Agreement shall be in writing and shall be
deemed to have been given when hand delivered, when received if sent by same
day or overnight recognized commercial courier service or three business days
after being mailed in any general or branch office of the United States Postal
Service, enclosed in a registered or certified postpaid envelope, addressed to
the address of the parties stated below or to such changed address as such
party may have fixed by notice:

 

To Buyer:

 

CrowdFunder, Inc.

875 Dellwood Avenue

Boulder, Colorado 80304

Attention:  Mark Kreloff

 

– copy to –

 

Holme Roberts & Owen LLP

1801 13th Street, Suite 300

Boulder, Colorado  80302-5259

Attention:  Adam Sher

 

provided, that any notice of change of address shall
be effective only upon receipt.

 

SECTION 12.    Termination.

 

12.1         This Agreement
may be terminated at any time prior to the Closing by any of the following:

 

(a)           by mutual written agreement of Buyer and Seller;

 

(b)           by either Buyer or Seller if the Closing has not occurred
by 11:59 p.m., July 31, 2008, upon written notice by such terminating
party, provided that at the time such notice is given a material breach of this
Agreement by such terminating party shall not be the reason for the Closing’s
failure to occur;

 

(c)           subject to the provisions of Section 12.2, by Buyer,
by written notice to Seller, if there has been a material violation or breach
of any of Seller’s covenants or agreements made herein or in connection herewith
or if any representation or warranty of Seller made herein or in connection
herewith proves to be materially inaccurate or misleading with respect to
Seller; or

 

(d)           subject to the provisions of Section 12.2, by Seller,
by written notice to Buyer, if there has been a material violation or breach of
any of Buyer’s covenants or agreements made herein or in connection herewith or
if any representation or warranty of Buyer made herein or in connection
herewith proves to be materially inaccurate or misleading with respect to
Buyer.

 

11

 

12.2         If
this Agreement is terminated as provided in Section 12.1, then there shall
be no liability or obligation on the part of any party hereto (or any of its
respective officers, directors or employees) except that if Buyer terminates
this Agreement pursuant to clause 12.1(c) or Seller terminates this
Agreement pursuant to clause 12.1(d), the non-terminating party shall
remain liable for any breach hereof.

 

SECTION 13.    Miscellaneous.

 

13.1         Entire Agreement. 
This Agreement, including the Exhibits hereto, sets forth the entire
agreement and understanding among the parties and merges and supersedes all
prior discussions, agreements and understandings of every kind and nature among
it as to the subject matter hereof, and no party shall be bound by any
condition, definition, warranty or representation other than as expressly
provided for in this Agreement or as may be on a date on or subsequent to the
date hereof duly set forth in writing signed by each party that is to be bound
thereby.  Unless otherwise expressly
defined, terms defined in the Agreement shall have the same meanings when used
in any Exhibit and terms defined in any Exhibit shall have the same
meanings when used in the Agreement. 
This Agreement (including the Exhibits hereto) shall not be changed,
modified or amended except by a writing signed by each party to be charged and
this Agreement may not be discharged except by performance in accordance with
its terms or by a writing signed by each party to be charged.

 

13.2         Governing Law. 
This Agreement and its validity, construction and performance shall be
governed in all respects by the laws of the State of Colorado without giving
effect to principles of conflicts of law.

 

13.3         Representation by Counsel.  Each party hereto represents and agrees with
the other that it has been represented by independent counsel of its own
choosing; it has had the full right and opportunity to consult with its
respective attorneys and other advisors and has availed itself of this right
and opportunity; its authorized officers have carefully read and fully
understand this Agreement in its entirety and have had it fully explained to it
by such party’s counsel; it is fully aware of the contents hereof and the
meaning, intent and legal effect thereof; and its authorized officer is
competent to execute this Agreement and has executed this Agreement free from
coercion, duress or undue influence. 
Each party and its counsel cooperated in the drafting and preparation of
this Agreement and the documents referred to herein.  Accordingly, any rule of law or any
legal decision that would require interpretation of any ambiguities in this
Agreement against the party that drafted it is of no application and is hereby
expressly waived.  The provisions of this
Agreement shall be interpreted in a reasonable manner to effect the intentions
of the parties and this Agreement.

 

13.4         Benefit of Parties; Assignment.  This Agreement shall be binding upon and
shall inure to the benefit of the parties hereto and its respective successors,
legal representatives and permitted assigns. 
The Agreement may not be assigned by either Buyer or Seller except with
the prior written consent of the other party; provided that no prior consent
shall be required for an assignment of this Agreement by Buyer to a direct or
indirect wholly-owned subsidiary. 
Nothing herein contained shall confer or is intended to confer on any
third party or entity that is not a party to this Agreement any rights under
this Agreement.

 

12

 

13.5     Pronouns.  Whenever the context requires, the use in
this Agreement of a pronoun of any gender shall be deemed to refer also to any
other gender, the use of the singular shall be deemed to refer also to the
plural and the use of the plural shall be deemed to refer also to the singular.

 

13.6     Headings.  The headings in the sections, paragraphs,
Exhibits of this Agreement are inserted for convenience of reference only and
shall not constitute a part hereof.  The
words “herein,” “hereof,” “hereto” and “hereunder,” and other words of similar
import refer to this Agreement as a whole and not to any particular provision
of this Agreement.

 

13.7     Expenses.  The parties hereto shall pay all of its own
expenses relating to the transactions contemplated by this Agreement,
including, without limitation, the fees and expenses of its respective counsel,
accountants and financial advisors.

 

13.8     Counterparts and
Facsimiles.  This Agreement may be
executed in one or more counterparts, each of which shall be deemed an original,
and all of which together shall constitute one and the same instrument.  The parties hereto may execute the signature pages hereof
and exchange such signature pages by facsimile transmission.

 

13.9     Dispute Resolution.

 

(a)           If any dispute or difference of any
kind whatsoever shall arise between the Buyer or the Seller (each a “Disputing
Party”) in connection with, or arising out of, this Agreement, or the
material breach, termination or validity thereof (a “Dispute”), the
Disputing Parties shall attempt, in good faith, to settle the Dispute in the
first instance by mutual discussions. 
All negotiations under this clause shall be confidential and shall be
treated as compromise and settlement negotiations, and no oral or documentary
representations made by the Disputing Parties during the negotiations shall be
admissible for any purpose in any subsequent proceedings.  If any Dispute is not resolved within thirty
(30) days of receipt by a Disputing Party of notice of a Dispute (or within
such longer period as to which the Disputing Parties have agreed in writing),
then, on the request of any Disputing Party, the Dispute shall be submitted to
arbitration in accordance with Section 13.10(b) below.

 

(b)           Any Dispute not resolved in accordance with Section 13.10(a) shall,
on the receipt of an arbitration demand, be finally and exclusively settled
through binding arbitration under and in accordance with the Commercial Rules of
the American Arbitration Association (the “AAA”), or any successor
thereto (the “Rules”), then in effect. The arbitration shall be held,
and the award shall be issued in, Denver, Colorado.  The arbitration shall be conducted before one
neutral arbitrator. The arbitrator shall be appointed by agreement of the
Disputing Parties within 30 days of the filing of the demand for arbitration
with the AAA.  If the parties are unable
to agree on an arbitrator within this 30 day period, the arbitrator shall be
selected and appointed in accordance with the Rules, provided that any
arbitrator appointed using the procedure described in this sentence shall be a
retired judge or a practicing attorney with no less than 15 years of experience
and an experienced arbitrator.  By
agreeing to arbitration, the Disputing Parties do not intend to deprive any
court of its jurisdiction to issue a pre-arbitral injunction, pre-arbitral
attachment, or other order in aid of arbitration proceedings and the
enforcement of any award.  Without
prejudice to any provisional remedies as may be available

 

13

 

under the jurisdiction of a court, the
arbitral tribunal shall have full authority to grant provisional remedies and
to direct the parties to request that any court modify or vacate any temporary
or preliminary relief issued by such court, and to award damages for the
failure of any party to respect the arbitral tribunal’s orders to that
effect.  Any arbitration proceedings,
decision or award rendered hereunder and the validity, effect and
interpretation of this arbitration agreement shall be governed by the Federal
Arbitration Act, 9 U.S.C. §1 et  seq.  In arriving at a decision, the arbitrator
shall be bound by the terms and conditions of this Agreement and shall apply
the governing law of this Agreement as designated in Section 15.2.  The arbitrator is not empowered to award
damages in excess of compensatory damages, and each party hereby irrevocably
waives any right to recover punitive, exemplary or similar damages with respect
to any Dispute.  The arbitrator shall
award the substantially prevailing party all reasonable costs, expenses and
attorneys’ fees incurred in connection with the arbitration proceeding.  The award, which shall be in writing and
shall state the findings of fact and conclusions of law upon which it is based,
shall be final and binding on the parties and shall be the sole and exclusive
remedy between the parties regarding the issues presented to the arbitral
tribunal.  Judgment upon any award may be
entered in any court of competent jurisdiction.

 

13.10       Confidentiality.  Each party shall (and shall direct its
directors, officers, members, managers, shareholders, employees and
representatives to) keep this Agreement (and the related agreements), and the
status of the transactions contemplated hereby and thereby, confidential, and
shall make no press release or public disclosure, either written or oral,
regarding the transactions contemplated hereby and thereby without the prior
knowledge and written consent of the other party hereto; provided, that the
foregoing shall not prohibit any disclosure (a) to attorneys, accountants,
investment bankers or other agents of the parties assisting the parties in
connection with the transactions contemplated hereby and thereby, (b) as
required by law and (c) any party to this Agreement (and each employee,
representative, or other agent of such party) may disclose to any and all
Persons, without limitation of any kind, the tax treatment and tax structure of
the transaction and all materials of any kind (including opinions and other tax
analyses) that are provided to the party relating to such tax treatment and tax
structure.  In the event that the
transactions contemplated by this Agreement (and the related agreements) are
not consummated for any reason whatsoever, the parties hereto agree not to
disclose or use any confidential information that they may have concerning the
affairs of the other parties except for information required by law to be
disclosed.  “Confidential information”
includes, but is not limited to, the following: 
financial records, reports, plans, proposals, financial information,
personnel information, contracts, ownership information, customer lists and
related information.

 

14

 

IN WITNESS WHEREOF, the parties have caused
this Asset Purchase Agreement to be duly executed on the day and year first
above written.

 

 

	
   

  	
  CROWDFUNDER,
  INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  MARK KRELOFF

  
	
   

  	
   

  	
  Mark
  Kreloff, President

  
	
   

  	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  GUBB,
  INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  JOE BERGERON

  
	
   

  	
  Name:

  	
  Joe
  Bergeron

  
	
   

  	
  Title:

  	
  President

  

 

Signature Page to Asset
Purchase Agreement

 

 

EXHIBIT A

 

ASSETS

 

	
  a)

  	
   

  	
  Proprietary source code for web-based list creation, management and
  organization system.

  
	
   

  	
   

  	
   

  
	
  b)

  	
   

  	
  Proprietary source for mobile list creation, management and
  organization.

  
	
   

  	
   

  	
   

  
	
  c)

  	
   

  	
  Interface developed by GUBB, INC. for gubb.net website.

  
	
   

  	
   

  	
   

  
	
  d)

  	
   

  	
  Domain name: gubb.net.

  
	
   

  	
   

  	
   

  
	
  e)

  	
   

  	
  Website and related operations of gubb.net; database that includes
  445,593 items within 127,495 user-created lists among 

  
	
  23,455 registered users (as of 5 June 2008).

  
	
   

  	
   

  	
   

  
	
  f)

  	
   

  	
  Artwork, logotypes and other brand-related materials developed by
  GUBB, INC. for gubb.net

  
	
   

  	
   

  	
   

  
	
  g)

  	
   

  	
  Without limiting the assets set forth in (a) through (f) of
  this Exhibit A, the source code that comprises all the files in the file
  

  
	
  listing attached hereto as a Unix/Linux directory printout. The
  Seller warrants that this file listing is the complete collection of files
  that comprises the entire functionality of the internet web sites as well as
  the mobile components contained therein.

  

 

 

EXHIBIT B

 

EXCLUDED ASSETS

 

None.

 

 

EXHIBIT C

 

FORM OF

BILL OF SALE AND ASSIGNMENT AGREEMENT

 

(Attached hereto)

 

 

BILL OF SALE AND ASSIGNMENT
AGREEMENT

 

This Bill of Sale and
Assignment Agreement (this “Agreement”), dated as of July 20, 2008,
is by and between CROWDFUNDER, INC., a Colorado corporation (“Buyer”),
and GUBB, INC., a California corporation (“Seller”).  The Seller, on the one hand, and the Buyer,
on the other hand, are each referred to herein as a “Party” and,
collectively, as the “Parties.”

 

WHEREAS, Buyer and
Seller have entered into that certain Asset Purchase Agreement, dated as of the
date hereof (the “Purchase Agreement”), pursuant to which Buyer will
purchase certain assets of the Seller in exchange for the consideration set
forth in the Purchase Agreement.

 

NOW,
THEREFORE, for good and valuable consideration, the receipt
and sufficiency of which are hereby acknowledged by the Parties, the Parties
hereby agree as follows:

 

1.             All capitalized terms used but not otherwise defined
herein shall have the meanings ascribed to them in the Purchase Agreement.

 

2.             Subject to the terms and conditions of the Purchase
Agreement, Seller hereby sells, assigns, transfers, conveys and delivers to
Buyer as of the Closing, good and valid title to the Assets, free and clear of
all Liens and Liabilities.

 

3.             Notwithstanding anything to the contrary contained
herein:  (a) nothing contained in
this Agreement is intended to provide any rights to either Seller or Buyer
(beyond those rights expressly provided to the Seller and Buyer, as the case
may be, in the Purchase Agreement); (b) nothing contained in this
Agreement is intended to impose any obligations or liabilities on either Seller
or Buyer (beyond those rights expressly provided to the Seller and Buyer, as
the case may be, in the Purchase Agreement); and (c) nothing contained in
this Agreement is intended to limit any of the rights or remedies available to
the Seller or Buyer, as the case may be, under the Purchase Agreement.

 

4.             Nothing contained in this Agreement is intended to
provide any right or remedy to any Person, other than the Parties to the
Purchase Agreement.

 

5.             This Agreement shall be binding upon and inure to the
benefit of Seller and Buyer and their respective successors and permitted
assigns.

 

6.             This Agreement may be executed in two or more
counterparts, each of which shall be deemed an original and all of which shall
constitute one instrument.

 

7.             This Agreement shall be construed in accordance with,
and governed in all respects by, the internal laws of the State of Colorado
(without giving effect to principles of conflicts of laws).

 

[Signature
page follows.]

 

 

IN WITNESS
WHEREOF, this Agreement has been duly executed and delivered by the parties
hereto as of the date first above written.

 

 

	
   

  	
  CROWDFUNDER,
  INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Mark
  Kreloff, President

  
	
   

  	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  GUBB,
  INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
  Name:

  	
  Joe
  Bergeron

  
	
   

  	
  Title:

  	
  President

  

 

Signature Page of Sale and
Assignment Agreement

 

 

EXHIBIT D

 

FORM OF

REGISTRATION RIGHTS AGREEMENT

 

(Attached hereto)

 

[SEE EXHIBIT 4.1 TO THIS CURRENT REPORT ON FORM 8-K]

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