Document:

ASSET
PURCHASE AND SALE AGREEMENT

    

    

    This
Asset Purchase and Sale Agreement (the “Agreement”) is made and executed as of
the 17th day of July, 2009, by and between NeoMedia Technologies, Inc., a
company organized under the laws of the State of Delaware, United States of
America, with its principal offices located at Two Concourse Parkway, Suite 500,
Atlanta, GA 30328, USA ( the “Seller”) and Greg Lindholm, an individual residing
in, and subject to, the laws of the State of Florida, United States of America,
with his principal place of business located at 586 Lakewood Drive, Oldsmar, FL
34677 (the “Purchaser”) (collectively referred to herein as “Parties” or
individually as “Party”).  This Agreement shall be effective July 16,
2009 (the “Effective Date”).

    

    WITNESSETH

    

    WHEREAS,
Seller owns or controls, or both all rights to certain intellectual property and
related technology and know-how, known collectively as the Wang Interchange
Source Processor (“WISP”), which is an integrated set of software utilities that
facilitates the complete migration of Wang VS applications to UNIX and Windows
(collectively, the “Assets”), all of which Assets are listed in Schedule 1
attached hereto;  and

    

    WHEREAS,
Purchaser wishes to purchase the Assets and Seller is willing to sell the Assets
in exchange for a Royalty as described below.

    

    NOW,
THEREFORE, in consideration of the premises and the mutual covenants and
agreements contained herein, and for other good and valuable consideration, the
receipt and adequacy of which are hereby acknowledged by each of the Parties
hereto, the Parties agree as follows:

    

    ARTICLE
I.   Definitions

    

    1.1           “Confidential
Information” shall mean all information disclosed to a Party (“Receiving Party”)
by the other Party (“Disclosing Party”) in connection with this Agreement that
is conveyed (a) in written, graphic, or other tangible form and conspicuously
marked “confidential”, “proprietary” or in some other manner to indicate its
confidential or proprietary nature; or (b) orally, provided that such
information is designated in writing as confidential or proprietary within
thirty (30) days of such oral disclosure. Additionally, subject to Article VI
below, the following information shall be deemed Confidential Information even
if not conspicuously marked “confidential” or “proprietary”:  all
know-how in whatever form,  documentation, formulations, algorithms,
compilations, manuals, manufacturing processes, business methods, computer
programs, symbols, or other know-how and supporting material related to the
research, development, manufacture, marketing, sale, copyrights, trademarks,
patents, technology, trade secrets and internal management systems relating to
the Assets, whether conveyed verbally, in writing, on diskette, on tape or other
media.

    

    1.2           “Documentation”
shall mean all elements of Know-how, Software, customer agreements, service
history and other Licensed Technology that are in writing or other tangible
form.

    

    1.3           “Know-how”
shall mean all trade secrets and Confidential Information, including process or
production information, formulas, information on compositions of matter,
techniques or methods related to the manufacture, package, assembly, marketing,
sale or distribution of the Licensed Products, Know-how or Licensed
Technology.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    1.4           “Licensed
Products” shall mean any product that is manufactured, used, marketed,
distributed or sold by Purchaser or any of its Subsidiaries or affiliates using
any of the Licensed Technology or Know-how.

    

    1.5           “Licensed
Technology” shall mean, individually and collectively, the Know-how and
Confidential Information which are sold pursuant to the terms of this Agreement,
and are necessary for the marketing, sale or distribution of the services
provided by the Assets, and which are being sold by the Seller to the Purchaser
pursuant to this Agreement.

    

    1.6           “Licensed
Trademarks & Copyrights” shall mean the Seller trademarks of “WISP” and
other related Seller trademarks, tradenames and copyrighted material associated
with any and all Products made with the Licensed Technology, Licensed Patents
and Know-how.

    

    1.7           “Subsidiaries”
shall mean those corporate entities in which a Party directly or indirectly owns
50% or more of the voting securities of such corporate entities, or is
otherwise related
to a Party through 50%
or more of common ownership of the stock by the
same parent.

    

    

    1.8      “Customers”
shall mean the listed persons and business and governmental entities who, as of
the date of this Agreement, purchase services provided by means of the Assets
(the “Services”) as set forth in Schedule 2 attached hereto, successors, assigns
or transferees of such persons and business and governmental entities, and all
other persons or business and governmental entities who may hereafter become a
purchaser of the Services.  “Customer” shall mean an individual person
or business or governmental entity, and its successors, assigns or transferees
who, as of the date of this Agreement or who thereafter, purchases the
Services.

    

    ARTICLE
II.  SALE OF ASSETS

    

    2.1           As
of the Effective Date, Purchaser shall purchase and accept, and Seller shall
sell, assign, transfer, convey and deliver to Purchaser, all of Seller’s rights,
titles and interests in and to the Assets.  As of the Effective Date
of this Agreement, except as may otherwise be set forth herein, Purchaser shall
have all rights to, responsibilities for, obligations of, and liabilities
related to the Assets and Seller shall be relieved of all such rights,
responsibilities, obligations, and liabilities.

    

    2.2           
Seller shall assist Purchaser in transitioning Customer relationships from
Seller to Purchaser.  The Parties shall jointly draft and send to each
Customer a letter advising the Customer of the fact that Purchaser will now be
responsible for all future relations with Customers related to the Services and
how to contact Purchaser.  In the event that, after the Effective
Date, a Customer contacts Seller about any issue related to the Services, or to
the Assets or sale thereof to Purchaser, Seller shall refer such Customer to
Purchaser.  In the event any other person or entity makes an inquiry
of Seller about purchasing the Services, Seller shall refer such person or
entity to Purchaser.

    

    2.3           
Upon the Effective Date, Purchaser shall be responsible for billing of all
Customers.  To assist Purchaser in such billing, Seller shall make
available to Purchaser, upon Purchaser’s request and at Seller’s place of
business, copies of its billing record for the Customers.  In the
event a Customer remits to Seller, after the Effective Date, a payment due to
Purchaser, Seller shall, within thirty (30) days, forward such payment in full
to Purchaser.  Seller shall have the sole right to any payments
received by Seller prior to the Effective Date and shall have no obligation to
forward such payments to Purchaser.

    

    2.4           As
of the Effective Date, Purchaser shall be responsible for providing the Services
to the Customers, including but not limited to responding to and rectifying any
Customer service claims or complaints, whether the matter that gave rise to such
claim or complaint occurred prior to or after the Effective Date. WISP support
services are only provided to Customers who purchase and keep current a WISP
Maintenance and Support Agreement, nothing in this agreement changes this or
requires Purchaser to provide support beyond the level stated in the WISP
Maintenance and Support Agreement.

    

    
      
         

      

      
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    2.5           Purchaser
shall not represent to any entity or person, in any manner, that it represents,
acts on behalf of, is an agent for, or is otherwise authorized to bind or act on
behalf of Seller.

    

    2.6           As
of the Effective Date, Purchaser shall have the exclusive right to prosecute,
maintain, defend and enforce the Assets, entirely at its own cost and discretion
and Seller shall have no obligation to take any action for the prosecution,
maintenance, defense or enforcement of the Assets in any way.

     

    2.7           Except
for the Assets sold under this Agreement, Purchaser is not granted any license
or other rights relating to the products or patents or other intellectual
property rights of the Seller whether by implication or otherwise.

     

    2.8           As
of the Effective Date, the Parties shall terminate that certain other agreement
between them entitled “Consulting Agreement” and dated March 24,
2008.  Seller shall pay Purchaser all amounts due Purchaser under the
Consulting Agreement as of the date of termination and Purchaser shall provide
all services required of it up through the date of termination of the Consulting
Agreement.

    

    ARTICLE
III.  REVENUES AND ROYALTY

    3.1           Purchaser
shall be entitled to all payments received from Customers on or after the
Effective Date resulting from the sale, lease, licensing, maintenance or other
services provided by means of the Assets (the “Revenues”).  In
consideration for its acquisition of the Assets, Purchaser shall pay to Seller a
royalty of twenty percent (20%) of the Revenues for three (3) years following
the Effective Date (the “Royalty”).

    

    3.2         In
the event that changes or upgrades will need to be made to the Assets in order
for the Services to continue to perform in a satisfactory manner, Purchaser
shall make such changes in a manner and time frame as required by and specified
in a customer's extant WISP Maintenance and Support
Agreement.  Purchaser shall be solely responsible, at its sole
expense, for making any such changes or upgrades. Purchaser is not required to
make any changes for or provide any services to any customer who does not have
an extant WISP Maintenance and Support Agreement.

    

    3.3           Payment
of Royalties shall be made on a monthly basis for the three (3) year period
following the Effective Date.  Each payment shall be made within
thirty (30) days after the end of each month and shall include a summary
statement of the Revenues and the Royalty calculation.  In the event
of termination of this Agreement, a final Royalty payment shall be made within
thirty (30) days following such termination.

    

    3.3           All
payments owed to Seller pursuant to this Article III Revenues and Royalty shall
be made in U.S. Dollars by check sent by U.S. mail to the last known address of
the Seller or by other mutually agreed upon method.

    

    ARTICLE
IV. WARRANTIES

    

    No
warranties, express, implied or statutory are made with respect to the Assets or
any part thereof except as expressly set forth in this Section.

    

    4.1.           The
Seller represents and warrants that: (i) the Seller is duly authorized and has
the requisite power and authority to enter into this Agreement and to perform
its obligations hereunder; (ii) the Seller has the right to sell the Assets;
(iii) the execution, delivery and performance by it of this Agreement will not
violate any provision of any applicable law or regulation presently in effect or
any provision of its constituent documents or result in a breach of any
agreement, obligation or restriction by which it is bound; (iv) this Agreement
is a legal, valid and binding obligation of Seller, enforceable against it in
accordance with its terms and conditions; (v) it is not under any obligation to
any person, contractual or otherwise, conflicting or inconsistent in any respect
with the terms of this Agreement or which would impede the diligent and complete
fulfillment of its obligations hereunder; and (vi) the Assets sold by it
hereunder are provided on an “AS IS” basis and subject to the further
limitations set forth in Section 4.3 below.

     

    
      
         

      

      
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    4.2           Purchaser
represents and warrants that:  (i) Purchaser is duly authorized and
has the requisite power and authority to enter into this Agreement and to
perform its obligations hereunder; (ii) Purchaser has conducted sufficient due
diligence investigation with respect to the Assets in all respects, including
but not limited to, the legal status and the technical effectiveness thereof;
(iii) the execution, delivery and performance by it of this Agreement will not
violate any provision of any applicable law or regulation presently in effect or
any provision of its constituent documents or result in a breach of any
agreement, obligation or restriction by which it is bound; (iv) this Agreement
is a legal, valid and binding obligation of Purchaser, enforceable against it in
accordance with its terms and conditions; (v) it is not under any obligation to
any person, contractual or otherwise, conflicting or inconsistent in any respect
with the terms of this Agreement or which would impede the diligent and complete
fulfillment of its obligations hereunder; and (vi) the Assets purchased by it
hereunder are purchased on an “AS IS” basis and subject to the further
limitations set forth in Section 4.3 below.

     

    

    4.3           The
provisions of Article V allocate the risks under this Agreement between the
Seller and the Purchaser, and the respective benefits and obligations described
herein reflect such allocation of risk and the limitation of liability agreed to
under this Agreement.  Nothing in this Article IV shall be construed
as: (i) a warranty or representation by Seller as to the validity or scope of
any component of the Assets; or (ii) a warranty or representation that anything
made, used, sold or otherwise disposed of under this Agreement does not or will
not infringe the intellectual property rights of third parties; or (iii) a
requirement that either Party shall file any patent application, secure any
patent or maintain any patent in force; or (iv) conferring a right to use in
advertising, publicity or otherwise any trademark or trade name of the other
Party; or (v) granting by implication, estoppel or otherwise any License or
rights under any Patent, technology, trademark or copyright other than the
Licensed Patents, Know-how and Licensed Trademarks &
Copyrights.

    

    THE WARRANTIES EXPRESSLY
SET FORTH IN THIS SECTION ABOVE ARE EXCLUSIVE AND IN LIEU OF ALL OTHER
WARRANTIES, AND THERE ARE NO OTHER REPRESENTATIONS OR WARRANTIES OF ANY KIND,
WHETHER WRITTEN, ORAL, EXPRESS, IMPLIED OR STATUTORY, INCLUDING BUT NOT LIMITED
TO IMPLIED WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR
PURPOSE.  SELLER SHALL NOT HAVE ANY LIABILITY OF ANY NATURE WITH
REGARD TO THE VALUE, ADEQUACY, FREEDOM FROM FAULT OR INFRINGEMENT, QUALITY,
EFFICIENCY, SUITABILITY, EFFECTIVENESS, ACCURACY, CHARACTERISTICS, VALIDITY,
SCOPE OR USEFULNESS OF THE ASSETS, INCLUDING BUT NOT LIMITED TOANY LICENSED
TECHNOLOGY, KNOW-HOW OR LICENSED TRADEMARK & COPYRIGHT.  IN NO
EVENT WILL THE SELLER OR ANY OF ITS SUPPLIERS, SUBSIDIARIES, EMPLOYEES,
OFFICERS, DIRECTORS OR AGENTS BE LIABLE FOR: (1) LOST PROFITS, LOST DATA OR LOST
USE, OR ANY OTHER INCIDENTAL OR CONSEQUENTIAL DAMAGES, OR FOR ANY INDIRECT,
SPECIAL OR PUNITIVE DAMAGES REGARDLESS OF THE FORM OF ACTION, WHETHER IN
CONTRACT, TORT (INCLUDING NEGLIGENCE), STRICT PRODUCT LIABILITY OR OTHERWISE,
EVEN IF SELLER OR ANY OF ITS SUPPLIERS, SUBSIDIARIES, EMPLOYEES, OFFICERS,
DIRECTORS OR AGENTS HAVE BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES; (2)
DAMAGES CAUSED BY THE PURCHASER’S FAILURE TO PERFORM ITS RESPONSIBILITIES UNDER
THIS AGREEMENT; (3) REPAIRS OR ALTERATIONS TO THE LICENSED TECHNOLOGY OR
LICENSED PRODUCTS DONE WITHOUT THE PRIOR WRITTEN APPROVAL OF THE SELLER; (4) USE
OF THE ASSETS IN A MANNER THAT IS NOT AUTHORIZED BY THIS AGREEMENT; OR (5) THE
MANUFACTURE, USE, MARKETING, DISTRIBUTION, SALE, OR OTHER DISPOSITION BY
PURCHASER, ITS AFFILIATES OR SUBSIDIARIES OR THEIR VENDEES OR OTHER TRANSFEREES
OF LICENSED PRODUCTS INCORPORATING OR SOLD IN CONNECTION WITH THE KNOW-HOW,
LICENSED TECHNOLOGY OR LICENSED TRADEMARKS & COPYRIGHTS.  NOTHING
CONTAINED IN THIS AGREEMENT SHALL BE CONSTRUED AS A WARRANTY OR REPRESENTATION
THAT THE POSSESSION OR USE OF THE ASSETS WILL PRODUCE PRODUCTS FREE FROM DEFECTS
OR INFRINGEMENT OF INTELLECTUAL PROPERTY RIGHTS OF THIRD
PARTIES.   NO DEMAND, CLAIM, SETTLEMENT, AWARD OR JUDGMENT BY OR
TO ANY THIRD PARTY CONCERNING ANY OF THE FOREGOING ENTITLE PURCHASER TO
REIMBURSEMENT OF ANY COMPENSATION OR ROYALTY PAID PURSUANT TO THIS AGREEMENT OR
TO ANY OTHER RELIEF.

     

    
      
         

      

      
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    ARTICLE
V. INDEMNIFICATION

    

    5.1           Purchaser
shall defend, indemnify and hold harmless Seller and its Subsidiaries,
directors, officers, employees, agents, representatives and consultants thereof
(“Indemnified Persons”) from and against any and all claims, actions, damages,
losses, expenses, costs (including without limitation reasonable attorneys’ fees
and litigation or arbitration costs) or other liability incurred by the Seller
and Indemnified Persons, arising out of or relating to any allegation of or
actual breach of any: (1) term or condition of this Agreement by Purchaser or
its subsidiaries, affiliates, officers, directors, employees, agents,
representatives, or consultants (“the Indemnifying Parties”); (2)
representation, warranty or covenant of Purchaser or the Indemnifying Parties
under this Agreement; (3) negligence or willful misconduct by Purchaser or the
Indemnifying Parties and (4) alleged infringement or violation by Purchaser or
the Indemnifying Parties of any third
person’s intellectual property rights arising as a result of Purchaser’s or
the Indemnifying Party’s use, sale,
import, export, marketing, distribution or manufacture of the Assets outside
the scope of the sale under this Agreement; provided, that Seller shall
provide to Purchaser prompt written notice of any such claim for which
indemnification is sought and shall further provide reasonable cooperation in
the defense and all related settlement negotiations thereof. Purchaser shall
have the sole right to control the defense of a claim for which indemnification
is sought hereunder. Notwithstanding any of the foregoing, the Seller and the
Indemnified Persons shall have the right, in its absolute discretion and at its
sole cost, to employ attorneys of its own choice in the defense of such
claim.  Neither Party
shall have any liability for claims arising out of the other Party’s use of the
Assets, including but not limited to the Licensed Technology, Know-how, Licensed
Patents, Licensed Trademarks & Copyrights or the Licensed Products whether
authorized by this Agreement or otherwise.

     

    5.2           Seller
shall defend, indemnify and hold harmless Purchaser and its Subsidiaries,
directors, officers, employees, agents, representatives and consultants thereof
(“Indemnified Persons”) from and against any and all claims, actions, damages,
losses, expenses, costs (including without limitation reasonable attorneys’ fees
and litigation or arbitration costs) or other liability incurred by the
Purchaser and Indemnified Persons, arising out of or relating to any allegation
of or actual breach of any: (1) term or condition of this Agreement by Seller or
its subsidiaries, affiliates, officers, directors, employees, agents,
representatives, or consultants (“the Indemnifying Parties”); (2)
representation, warranty or covenant of Seller or the Indemnifying Parties under
this Agreement; (3) negligence or willful misconduct by Seller or the
Indemnifying Parties and (4) alleged infringement or violation by Seller or the
Indemnifying Parties of any third
person’s intellectual property rights arising as a result of Seller’s or the
Indemnifying Party’s use, sale,
import, export, marketing, distribution or manufacture of the Assets outside
the scope of the sale under this Agreement; provided, that Purchaser
shall provide to Seller prompt written notice of any such claim for which
indemnification is sought and shall further provide reasonable cooperation in
the defense and all related settlement negotiations thereof. Seller shall have
the sole right to control the defense of a claim for which indemnification is
sought hereunder. Notwithstanding any of the foregoing, the Purchaser and the
Indemnified Persons shall have the right, in its absolute discretion and at its
sole cost, to employ attorneys of its own choice in the defense of such
claim. Neither Party
shall have any liability for claims arising out of the other Party’s use of the
Assets, including but not limited to the Licensed Technology, Know-how, Licensed
Patents, Licensed Trademarks & Copyrights or the Licensed Products whether
authorized by this Agreement or otherwise.

     

    
      
         

      

      
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    5.3           The
Indemnifying Person in Sections 5.1, shall further indemnify and hold harmless
the Indemnified Persons in Section 5.1 for any claim by any person, whether or
not a Customer, arising out of the sale or use of the Services, whether such
claim arose prior to or after the Effective Date and whether or not such claim
relates to an alleged failure of the Services to operate properly or in a manner
consistent with any contractual obligation that Seller or Purchaser may have
with the person. Not by way of limitation, but by way of example, this indemnity
shall extend to claims made under tort or contract, or both, and claims for
legal or equitable, or both, relief. This indemnity shall apply to any such
claims whether or not either Party knew or should have known of such claim or
potential claim.

    

    ARTICLE
VI. CONFIDENTIALITY

    

    6.1           Neither
Party shall originate or otherwise publish any news release, or other public
announcement, written or oral, relating to this Agreement or the existence of an
arrangement between the Parties without the prior written approval of the other
Party.  If either of the Parties learn Confidential Information of the
other Party, such Party shall keep confidential the Confidential Information and
shall not use or disclose, either directly or indirectly, to any person or
entity the Confidential Information of the other Party for any purpose other
than as provided for in this Agreement without the express, written permission
of the other Party, except that each Party may: (i) use the Confidential
Information of the other Party to carry out the activities expressly permitted
hereunder; (ii) disclose the Confidential Information of the other Party to
those persons who have a need to know such Confidential Information in order to
carry out the activities expressly permitted hereunder on behalf of the
Receiving Party and who are bound by confidentiality obligations no less
stringent than those contained herein; and (iii) disclose the Confidential
Information as required by law or orders from any government departments,
legislative bodies or governing courts, provided that, in such event, the
Receiving Party subject to such obligation shall promptly notify the Disclosing
Party to allow intervention to contest or minimize the scope of the disclosure
or apply for a protective order. Each Party agrees to take precautions to
prevent unauthorized disclosure or use of the Confidential Information, and such
precautions shall be consistent with the precautions used to protect the
Receiving Party’s own confidential information of like significance, but in no
event less than the care exercised by a reasonable business person in the
protection of its valuable confidential information. In the event that the
Receiving Party learns or has reason to believe that any person who has had
access to the Confidential Information of the Disclosing Party has violated or
intends to violate the terms of this Agreement, the Receiving Party shall
immediately notify the Disclosing Party and shall cooperate with the Disclosing
Party in seeking any relief against any such person or violation.

    

    6.2           Notwithstanding
anything to the contrary set forth herein, Confidential Information shall not
include and the obligations of non-disclosure and confidentiality set forth in
this Section shall not extend to (i) any information lawfully in the Receiving
Party’s possession prior to the date of disclosure thereof by the Disclosing
Party which is not otherwise subject to a confidentiality agreement, (ii) any
information which is in the public domain or hereafter becomes a part thereof
through no fault of the Receiving Party, (iii) any information that becomes
available to the Receiving Party on a non-confidential and lawful basis from a
source other than the Disclosing Party and not otherwise through a breach of a
confidentiality and/or non-disclosure obligation by a third party, (iv) any
information independently developed by the Receiving Party and as to which the
Receiving Party can demonstrate by reasonable documentary proof is not based on
the Disclosing Party’s Confidential Information, and is
not otherwise
subject to any protection by law, or (v) any information disclosed
by the Disclosing Party to the Receiving Party that is expressed in writing by
the Disclosing Party to be non-confidential.

    

    
      
         

      

      
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    ARTICLE
VII.  RECORDS AND REPORTS

    

    7.1           Purchaser
agrees to keep and maintain, in accordance with generally accepted accounting
principles and procedures, complete and accurate customary records and books of
account of all Revenues and of all sales, whether for cash or on credit, and all
sales transactions underlying the Revenues.  Seller shall be entitled,
upon reasonable written notice, during business hours, through its duly
authorized agents, attorneys, or accountants, to audit any and all such
information in Purchaser’s records and books of account, bearing on Purchaser’s
Revenues and sales underlying the Revenues.  Seller shall be limited
to one audit per calendar year unless Seller has reason to believe Purchaser is
or has not reported accurately its Revenues or underlying sales.  In
such event, Seller may audit Purchaser’s records each quarter.  If any
such audit discloses that the payable Royalties were understated in Purchaser’s
reports to Seller, Purchaser shall immediately pay to Seller one hundred and
five percent (105%) of the additional payments due.  In addition, if
the understatement was more than five percent (5%) of the amount actually
reported by Purchaser to Seller, Purchaser shall pay to Seller on demand
Seller’s expenses incurred in such audit.

    

    7.2           Notwithstanding
any other provision of this Agreement, or termination of this Agreement for any
reason, Purchaser shall maintain the records and reports referred to herein for
a period of five (5) years after such records and reports are generated, or for
any longer period as may be required under applicable law.

    

    ARTICLE
VIII.  TAXES

    

    8.1           Each
Party shall be responsible to pay all applicable taxes, levies, duties in
connection with the Party’s respective benefits and obligations under this
Agreement.

    

    

    ARTICLE IX.  TERM AND
TERMINATION

    9.1           This
Agreement shall remain in full force and effect for three (3) years after the
Effective Date,
unless this Agreement is terminated earlier for any reason provided for
herein.

     

    9.2.           Either
Party may terminate this Agreement by giving not less than thirty (30) calendar
days’ written notice to the other Party of a material breach of any of the terms
or conditions of this Agreement by the other Party, if the other Party fails to
cure its breach within the thirty (30) calendar days’ notice
period.

     

    9.3           The
Seller may terminate this Agreement upon written notice in the event of any of
the following occurrences:  (i) that a petition for Purchaser’s
bankruptcy has been filed and is not discharged within thirty (30) days, whether
voluntary or involuntary; (ii) an assignment of the Purchaser’s assets is made
for the benefit of creditors; (iii) the appointment of a trustee or receiver is
made to take charge of the Purchaser’s business for any reason; or (iv) the
Purchaser becomes insolvent or ceases to conduct business in the normal
course.

    9.4           Notwithstanding
the foregoing, the termination of this Agreement shall not relieve either Party
of any liability or obligation which accrued prior to such termination, and such
termination shall not affect any provision which shall be effective after such
termination as stipulated or implied herein.

    

    9.5           Upon
termination of this Agreement for any reason, other than its expiration at the
end of the three (3) year term following the Effective Date, all rights to the
Assets shall revert to Seller and Purchaser shall have no further right to the
Assets or the Revenues; rather, in such event, Seller shall be entitled to all
subsequent Revenues and shall assume all rights, duties, obligations and
liabilities pertaining to the Customers.  Such termination shall not
relieve the Purchaser of any financial obligation to the Seller which accrued
prior to such termination.

    

    9.6           Upon
the termination of this Agreement at the expiration of the three (3) year term
following the Effective Date, Purchaser shall retain all rights, duties,
obligations and liabilities pertaining to the Assets.

     

    
      
         

      

      
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    ARTICLE
X. NOTICES

    

    All
notices, demands, requests or other communications given to, made or required
hereunder shall be in writing and shall be deemed sufficiently given if sent by
an internationally-recognized courier service, such as DHL or Federal Express,
prepaid, for second business day delivery, properly addressed to the last-known
address of the Party to which it is sent, or sent by telefacsimile during
business hours in the recipient’s time zone to the last known telefax number of
the Party with a confirmation copy sent the same business day by international
courier as provided above.   All notices, demands or requests so
sent by international courier shall be deemed received when delivery is
confirmed by the courier or receipt is refused, whichever is
sooner.  All notices so sent by telefacsimile shall be deemed received
on the date transmitted, provided a confirmation report indicating successful
transmission is retained by the Party giving notice and a copy is sent by
international courier the same business day as provided above.  Until
a Party receives written notice in the manner herein prescribed to the contrary
from the other Party, notices shall be sent to:

    

    In case of
Seller:

    NeoMedia
Technologies, Inc.

    Attention
CEO or CFO

    Two
Concourse Parkway

    Suite
500

    Atlanta,
GA 30328

    Phone:  678
638 0460

    Fax:  678
638 0466

    

    In case of
PURCHASER:

    Greg
Lindholm

    586
Lakewood Drive

    Oldsmar,
FL 34677

    Attn:
Greg Lindholm

    Phone:­­­­­
239-826-7037

    Fax:
N/A

    

    Either
Party may change its address by giving written notice to the other Party in
accordance with this Article, in which case such new address may be relied upon
by the other Party as the last known address of such Party for purposes of this
Article.

    

    ARTICLE
XI. ASSIGNMENT

    

    11.1           The
rights and obligations granted and imposed upon the Parties pursuant to this
Agreement shall not be assignable or otherwise capable of delegation,
transferable, or subject to encumbrance by act of either Party without the
express written consent of the other Party, which shall not be unreasonably
withheld.

    

    11.2           For
purposes of this Article XI, an “assignment” (and, as appropriate, “assign”)
shall include, but shall not be limited to, any “Change in Control” which shall
mean: (i) the acquisition, directly or indirectly, by any person or entity
within any twelve month period of securities at issue (i.e., in the case of an
assignment by the Purchaser, the Purchaser’s outstanding stock; in the case of a
purchase by the Purchaser, the company being purchased) representing an
aggregate of fifty percent (50%) or more of the combined voting power of
Purchaser’s then outstanding securities; (ii) the sale or transfer of twenty
percent (20%) or greater of either the assets or voting securities of Purchaser;
or (iii) the consummation of (A) a merger, consolidation or other business
combination of the Purchaser with any other entity or affiliate thereof, or (B)
a plan of complete liquidation of Purchaser at issue or an agreement for the
sale or disposition by Purchaser of all or substantially all of its
assets.

     

    
      
         

      

      
        8

        
          

        

      

      
         

      

    

     

    ARTICLE
XII. GOVERNING JURISDICTION AND DISPUTE RESOLUTION

    

    12.1           All
disputes arising in connection with this Agreement shall be finally settled in
Atlanta, Georgia, through arbitration in accordance with the rules and
procedures of the American Arbitration Association (the “Rules”).

     

    12.2             Any
decision rendered by any arbitration tribunal pursuant to this Article shall be
final and binding on the Parties thereto, and judgment thereon may be entered by
any court of competent jurisdiction.  The Parties specifically agree
that any arbitration tribunal shall be empowered to award and order equitable or
injunctive relief with respect to matters brought before it.

     

    12.3             Notwithstanding
the terms of this Article or the provisions of the Rules, at any time before and
after a demand notice is presented, the Parties shall be free to apply to any
court of competent jurisdiction for interim or conservatory measures (including
temporary conservatory injunctions).   The Parties acknowledge
and agree that any such action by a Party shall not be deemed to be a breach of
such Party’s obligation to arbitrate all disputes under this Article or infringe
upon the powers of any arbitral panel.

     

    12.4            This Agreement shall be
construed and enforced in accordance with the laws of the State of Georgia,
United States of America without regard to its principles of conflicts of
law.

     

    ARTICLE
XIII.  SEVERABILITY, WAIVER, PARTS, ENTIRE AGREEMENT, AMENDMENT, FORCE
MAJEURE, RELATIONSHIP OF PARTIES, NO THIRD-PARTY BENEFICIARIES

    

    13.1           If
a court or arbitrative panel of competent jurisdiction finds any provision of
this Agreement to be invalid or unenforceable, the provisions of this Agreement
shall be separable and such invalid or unenforceable term(s) shall be
ineffective in the affected jurisdictions to the extent of such prohibition or
unenforceability without invalidating the remaining provisions of this
Agreement.  The remaining provisions of this Agreement and the
invalidated provisions in other non-affected jurisdictions shall remain in full
force and effect until the Agreement terminates or expires.

    

    13.2           The
waiver by either Party of a breach of any provision of this Agreement shall not
operate or be construed as a waiver of any subsequent breach of that particular
provision or any other provision of the Agreement.  Failure by any
Party at any time to enforce any of the provisions of this Agreement shall not
affect or impair such provisions in any way, or the right of any Party at any
time to avail itself of any remedies it may have for breach of such provisions
pursuant to this Agreement, either in equity or in law.

    

    13.3           This
Agreement may be executed in two (2) counterparts, which together shall form a
single agreement as if both Parties had executed the same document.

    

    13.4           This
Agreement constitutes the entire understanding between the Parties, and
supersedes all previous undertakings, agreements, and understandings, whether
oral or written, between the Parties hereto.  No modification,
amendment or alteration of this Agreement shall be effective unless agreed to in
a writing signed by both Parties.

    

    13.5           Notwithstanding
any provisions herein, neither Party shall be held liable or responsible to the
other Party for failure or delay in fulfilling or performing any obligation
under this Agreement if such failure or delay is caused by actions, inactions or
events which are beyond the reasonable control of the affected Party, the effect
of which is to prevent or interfere with such Party’s performance hereunder,
including but not limited to any weather; natural disasters; government action
or inaction or other governmental laws, orders, restrictions, embargos or
blockades; war; national or regional emergency; city riot or other civil
disobedience; revolution or rebellion; strike or other work stoppage; fire;
explosion; flood; sabotage; pestilence; accident or breakdown of machinery,
unavailability of fuel, labor, containers or transportation facilities;
accidents of navigation or breakdown or damage of vessels, or other conveyances
for air, land or sea or other impediments or hindrances to transportation; or
any other circumstances of like or different character commonly referred to as
an act of God or force majeure.  Each Party agrees to give the other
Party prompt written notice of the occurrence of any such condition and shall
make all reasonable efforts to perform despite such occurrence.  In
the event that such condition continues for more than three (3) months, the
Parties may consult with each other to determine whether or not to terminate
this Agreement.

     

    
      
         

      

      
        9

        
          

        

      

      
         

      

    

    

    13.6           The
relationship between Seller and Purchaser is that of independent contractors
with respect to all matters related to this Agreement.  Each Party
agrees that it shall have no authority, whether express or implied, to make
contracts, representations, warranties or any other obligations in the name of,
or binding upon, the other Party.

    

    13.7           This
Agreement is made for the benefit of the Parties hereto and is not intended to
benefit any third parties and shall not be available for enforcement or benefit
of any third parties not a Party to this Agreement as evidenced by a duly
authorized signature hereto.

    

    IN
WITNESS WHEREOF, the undersigned duly authorized representatives of the Parties
hereto have executed this Agreement as of the day and year first written
above.

     

    

      
        
          
            
              	NeoMedia
      Technologies, Inc.   	 	 	Greg
      Lindholm	 
	 	 	 	 	 	 
	By:	/s/
      Michael W. Zima	 	By:	/s/
      Greg Lindholm	 
	 	
                      Signature

                    	 	 	      
                      Signature

                    	 
	 	 	 	 	 	 
	 	
                      Michael
      W. Zima

                    	 	 	
                      Greg
      Lindholm

                    	 
	 	
                      Name

                    	 	 	      
                      Name

                    	 
	 	 	 	 	 	 
	 	
                      Chief
      Finanal Officer

                    	 	 	
                      N/A 

                    	 
	 	
                      Title 

                    	 	 	
                      Title

                    	 
	 	 	 	 	 	 
	 	July
      17, 2009	 	 	July
      17, 2009	 
	 	
                      Date

                    	 	 	      
                      Date

                    	 

            

             

          

        

      

    

    
      
         

      

      
        10Exhibit 10.114
    

    

    

    
      July 15, 2009
    

    
      Mr. Benjamin Palleiko
    

    
      One Meadowland Drive
    

    
      Hopkinton, MA 01748
    

    
      

    

    
      Dear Ben:
    

    
      I am pleased to offer you the position of Senior Vice President and
      Chief Financial Officer effective July 15, 2009. You will report to the
      CEO. In this role you will be the senior financial officer of the
      company, and will have responsibility for overseeing the development of
      strategic plans, budgets and financing programs for the company and its
      subsidiaries. You will be responsible for accounting and control, SEC
      reporting, and will coordinate external auditors. You will be a member
      of the senior management team at Ore and will be expected to attend
      Board of Directors' meetings, in the discretion of the CEO, as well as
      supporting the CEO in developing and communicating growth strategies to
      internal and external audiences. This is a critical role in the company
      as we transition Ore from an old-model biotech company into a new-model
      asset management and drug development enterprise.
    

    
      In accordance with our Ore Compensation Plan (the "Plan") a Senior Vice
      President is an Ore job level M19. Your starting salary shall be
      $215,000 per annum paid semi-monthly. Your salary will be reviewed in
      December of each year and may be adjusted in accordance with your
      performance and other conditions. Such adjustment (if any) will be
      implemented in January of the following year. In addition, all Ore
      employee salaries will be reviewed once the company concludes a business
      transaction which generates a significant positive cash inflow for the
      company. Such adjustment shall be solely at the discretion of the
      Compensation Committee of the Board of Directors, in consultation with
      the CEO, although we currently anticipate that your salary following any
      such adjustment will be not less than $295,000 per year.
    

    
      Subject to the Ore Pharmaceuticals 1997 Equity Incentive Plan (the
      ”Equity Plan”), you are to be granted thereunder in connection with your
      employment an option to purchase 115,000 shares of Common Stock,
      exercisable at the fair market value on the date of your employment, and
      vesting as follows:  28,750 shares shall vest on July 15, 2010, and of
      the remaining 86,250 option shares, 1/24th of the shares
      shall vest on July 31, 2010 and at the end of each full month thereafter
      so that the option shall be fully vested as of June 30, 2012.
    

    
      In addition, you will be awarded in connection with your employment,
      under the Equity Plan as well, an option for an additional 125,000
      shares of Common Stock (the "Bonus Options"), exercisable at the fair
      market value on the date of your employment and vesting in full upon the
      Company’s, directly or indirectly through an entity in which the Company
      retains a significant economic interest, consummating one or more
      related debt or equity capital raising transactions as a result of which
      the Company or such related entity shall have received at least $10
      million in net working capital proceeds, all as determined by and in the
      sole discretion of the Company’s Board of Directors (a “Financing”),
      provided that such Financing occurs by July 15, 2011.
    

    
      You also will be eligible to participate in the Ore Pharmaceutical
      Incentive Compensation Plan at such time as the Board of Directors
      approves performance targets under the plan. That plan is a
      performance-based program that annually awards cash and stock to
      participants based on their performance against an agreed upon set of
      specific goals. We will meet to agree upon those goals within one month
      of your hiring date. Your initial target cash bonus will be 40% of
      salary, calculated based upon your salary level at the end of any
      particular year and assuming you receive a performance rating of
      "Greatly Exceeds Expectations", and pro-rated for your employment term
      this year.  You also would be eligible to receive certain options based
      on performance.
    

    
      
        

        

      

      
        

        

        
          

        

      

      
        

        

      

    

    
      Like all full-time employees you are eligible to participate in the Ore
      benefits programs, This plan includes among other things health and
      dental benefits, a 401k plan, life insurance, and vacation. It is
      understood that your eligibility for health and dental benefits will
      commence on September 1, 2009, unless otherwise agreed or required by
      law.
    

    
      As a condition of employment all Ore personnel are required to sign the
      company's standard Employee Confidentiality, Assignment of Inventions
      and Noncompetition Agreement. A copy of the standard agreement is
      attached for your information.
    

    
      You understand that you are an "at will" employee. Either party may
      terminate your employment at any time.
    

    
      Please indicate your acceptance of this offer by signing in the space
      below.
    

    
      

    

    
      Welcome to Ore.
    

    
      Sincerely,
    

    
      /s/ Mark J. Gabrielson
Mark J. Gabrielson
CEO
    

    
      Accepted and Agreed:
    

    
      /s/ Benjamin L. Palleiko
Benjamin L. Palleiko
7/15/09
Date

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