Document:

mPhase Technologies Inc. - Exhibit 10.28 - Prepared By TNT Filings Inc.

 

EXHIBIT 10.28

3rd Amendment to Software License Agreement 

This 3rd Amendment made as of the 15th day of March, 2006 (the
"Amendment") supplements the terms and conditions of the Software License
Agreement (the "Agreement"), dated November 28, 2004, between mPhase
Technologies, Inc. ("Company") and Espial Group Inc. ("Espial") and amended on
June 17th, 2005 and on October 20th, 2005, All capitalized
terms used herein, but not defined, shall have the respective meanings assigned
to such terms in the Agreement, as amended. 

Espial and Company agree as follows; 

1. Supplement. 

1.1. Add Exhibit A-2 to the Agreement as follows: 

*

Price: $* due on the date of this Amendment. 

*

1.3 Removal of PS work no longer required 

mPhase no longer require the $* professional services as per Exhibit B
of the Agreement. As such, the parties agree that all content under Exhibit B of
the Agreement is hereby cancelled. 

II. Effect of Supplement. 

* Portions of this exhibit have been omitted pursuant to a request by the
Company to the Securities and Exchange Commission for Confidential Treatment
pursuant to Rule 406 of the Securities Act of 1933, as amended. Such omitted
portions have been filed separately with the Commission. 

In the event of any conflict or inconsistency between the 
terms of this 3rd Amendment and the terms pf this Agreement as amended, the
terms of this 3rd Amendment shall prevail. Except as specifically and to the
extent modified by this 3rd Amendment, all of the terms and
provisions of the Agreement as amended shall continue to remain unchanged and in
full force and effect. 

IN WITNESS WHEREOF the parties have duly executed this Amendment. 

	MPHASE TECHNOLOGIES,
    INC.	ESPIAL GROUP INC.
	 	 
	By: /s/ Ronald Durando	By: /s/ Kumanan
    Yogaramam
	Name: Ronald A.
    Durando	Name: Kumanan
    Yogaramam
	Title:  President
    and CEO	Title:  CTO
	 	 
	03/17/2006	17 March 2006Exhibit 10.9

    Exhibit
      10.9

     

     

    SETTLEMENT
      AGREEMENT AND MUTUAL RELEASE

    

    THIS
      SETTLEMENT AGREEMENT AND MUTUAL RELEASE (hereinafter this “Agreement”) is made
      this 16
      day of
      March, 2006 by and between SEREFEX CORPORATION (hereinafter referred to as
      “SEREFEX”) and THOMAS
      J.
      CONWELL, THOMAS J. CONWELL REV TRUST, JUDITH A. CONWELL, JUDITH A. CONWELL
      REV
      TRUST, KENT CONWELL and LIONS GATE MANAGEMENT, LTD. CO., a Florida Corporation,
      JOINTLY AND SEVERALLY
      (hereinafter collectively referred to as “Defendants”) and these parties agree
      as follows:

     

    RECITALS:

     

    WHEREAS,
      the
      parties to this Agreement are parties to a civil action pending in the
Circuit
      Court for the Twentieth Judicial Circuit of Florida, in and for Collier County,
      Florida,
      being
      Case No. 04-2834-CA,
      styled
Serefex
      Corporation v. Conwell, et al.,
      (hereinafter the “Lawsuit”).

     

    WHEREAS,
      due
      to the
      uncertainty of the claims and the necessity on the part of both parties to
      bring
      these matters to an expeditious conclusion, the parties desire to settle all
      issues between them, both those which were raised or could have been raised
      by
      the pleadings filed in the Lawsuit, and, therefore, enter into this Agreement
      settling all issues between them on the terms and conditions set forth
      herein.

     

    WHEREAS,
      the parties to this Agreement have agreed to settle their disputes in the manner
      set forth in this Agreement.

     

    WHEREAS,
      the
      consideration for this Agreement and for the execution and delivery of all
      documents and/or items pursuant to it are the mutual promises contained in
      this
      Agreement.

     

    WHEREAS,
      the parties to this Agreement have agreed to settle their dispute in the manner
      set forth below.

     

    IT
      IS STIPULATED AND AGREED AS FOLLOWS:

     

    1. DEFENDANTS
      JOINTLY AND SEVERALLY AGREE AS FOLLOWS:

     

    A. To
      transfer, assign, convey or deliver to SEREFEX all
      shares
      and/or holdings in Serefex Corporation and or SpectraFax Corporation
      (collectively the “Serefex Shares”) that are currently titled in their names,
      held in their possession and/or under their control, including but not limited
      to all shares listed in the attached Exhibit “A”. To the extent Defendants have
      already delivered any certificates for any of the Serefex Shares that are titled
      in their name to SEREFEX, or is obligated to deliver any such certificate titled
      in their name to SEREFEX, Defendants further agree to execute any documents
      that
      may be required to effect the legal transfer of title to such shares from the
      Defendants to SEREFEX, including but not limited to any Power of Attorney to
      Transfer Securities or Stock Power, the form of which is attached hereto as
      Exhibit “B” (“Stock Power”). To the extent any of the Serefex Shares have been
      issued to any of the Defendants, but the Defendants do not have possession
      or
      control over such shares, Defendants shall nonetheless execute any document
      or
      take any other action required to transfer ownership and title to such shares
      to
      SEREFEX, including but not limited to the execution of any Agreement of
      Indemnity/Affidavit of Loss, the form of which is attached hereto as Exhibit
“C”
(“Affidavit of Loss”), and thereafter to execute a Stock Power to transfer such
      shares to SEREFEX. To the extent any of the Serefex Shares are held in any
      account titled in the name of any of the Defendants or is under the control
      of
      any of the Defendants, Defendants further agree to assign, transfer and convey
      to SEREFEX all rights, interests, benefits or privileges to such Serefex Shares
      in those accounts in order to effectuate the transfer of shares to SEREFEX.
      The
      parties acknowledge that the amounts of the shares indicated in this paragraph
      are approximate, and the actual share amounts may vary from these
      approximations. Defendants acknowledge that they, jointly and severally, have
      the obligation to take whatever action is required to transfer the Serefex
      Shares to SEREFEX, which transfer shall be effectuated by any means necessary
      to
      transfer the shares including, but not limited to, assignment/transfer of stock
      forms, affidavit of lost certificate(s), and instruction to necessary transfer
      agents as to the transfer of the stock outlined in this paragraph. The
      Defendants shall initiate the transfer, assignment, conveyance and delivery
      of
      the Serefex Shares to SEREFEX no later than three (3) days after being advised
      that the board of directors of SEREFEX has approved this Agreement. The
      Defendants shall use their best efforts to complete the transfer, assignment,
      conveyance and delivery of the Serefex Shares to SEREFEX.

     

    
      
        
        

      

      
        1

        
          

        

      

      
        
        

      

    

     

    B. To
      pay to
      SEREFEX the sum of $ 25,000.00 by cashier’s check, on or before May 26, 2006.
      Said funds shall be transmitted to SEREFEX in care of their counsel, Michael
      Marsalese. Defendants acknowledge and agree that their obligation to pay the
      $
      25,000.00 to SEREFEX is joint and several.

     

    C. To
      pay in
      advance by cashier’s check all fees associated with the transfer of the Serefex
      Shares outlined in Paragraph 1 (A) above, including any and all costs and fees
      associated with transferring, replacing any lost, missing or stolen stock
      certificates, including but not limited to certificate numbers 2, 68, 70, 1023,
      1104, 1479, 1626 and 2216.

     

    D. To
      bear
      their own costs and attorneys’ fees relating to or arising from the
      Lawsuit.

     

    E. To
      refrain from making any disparaging remarks, comments, or communications (either
      oral or written) against SEREFEX, any of its officers, directors, agents,
      advisors, and/or assigns, and to refrain from making any statements, interviews
      or comments relative to the terms of this Agreement to any news organization,
      provided SEREFEX fully complies with the terms of this Agreement.

     

    F. To
      execute and file a joint stipulation for dismissal with prejudice of all claims
      and counterclaims asserted in the Lawsuit, with all parties to bear their own
      attorneys’ fees and costs. Such stipulation shall be filed concurrently with the
      joint stipulation of dismissal to be filed by SEREFEX, pursuant to paragraph
      2.H. below.

     

    2. SEREFEX
      AGREES AS FOLLOWS:

     

    A. To
      accept
      the transfer, assignment, conveyance and delivery to SEREFEX of the Serefex
      Shares in the manner described above in partial settlement of its claims in
      the
      Lawsuit. 

     

    B. To
      accept
      payment of the sum of $ 25,000.00 by cashier’s check from the Defendants as
      described above, in partial settlement of the Lawsuit. Said sum shall be due
      and
      payable on or before May 26, 2006. Said funds shall be transmitted to SEREFEX
      in
      care of their counsel, Michael Marsalese.

     

    C. To
      bear
      its own costs and attorneys’ fees relating to or arising from the Lawsuit,
      provided Defendants fully comply with the terms of this Agreement.

     

    D. To
      use
      its best effort to seek to obtain board approval for this Agreement within
      five
      (5) days of the date of this Agreement.

     

    E. To
      refrain from making any disparaging remarks, comments, or communications (either
      oral or written) against Defendants or their family members, provided Defendants
      fully comply with the terms of this Agreement.

     

    F. To
      refrain from making any statements, interviews or comments relative to the
      terms
      of this Agreement to any news organization, provided Defendants fully comply
      with the terms of this Agreement. 

     

    G. Notwithstanding
      the above, the parties acknowledge that SEREFEX fully intends on disclosing
      the
      terms of this Agreement in its Edgar filings to the Securities and Exchange
      Commission, either as an attachment to the filings or contained in the body
      of
      the filings, and that such disclosure is expressly permitted by this
      Agreement.

     

    H. To
      execute and file a joint stipulation for dismissal with prejudice of all claims
      and counterclaims asserted in the Lawsuit, with all parties to bear their own
      attorneys’ fees and costs, within five (5) days after Defendants’ payment of the
      $ 25,000.00 set forth in Paragraph 1. B. above and transfer of all the Serefex
      Shares pursuant to Paragraph 1.A. above, provided Defendants have otherwise
      fully complied with the terms of this Agreement. In the event Defendants fail
      to
      fully comply with the terms of this Agreement, SEREFEX reserves the right to
      pursue the claims asserted in the Lawsuit and to recover from all Defendants,
      jointly and severally, any damages in excess of any recovery made under this
      Agreement, which SEREFEX shall be entitled to retain.

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

    3. MISCELLANEOUS:

     

    A. The
      parties agree that in the event other documents not described in this Settlement
      Agreement and Mutual Release are required to fully effectuate the terms,
      conditions and obligations, the parties have agreed to make, execute and deliver
      or cause to be made, executed and delivered, any and all such further documents
      or instruments necessary or desirable to complete or perfect the said terms,
      conditions or obligations.

     

    B. Any
      number of counterparts of this Agreement may be signed and delivered, including
      by facsimile, each of which, together, shall constitute one and the same
      Agreement.

     

    C. Effective
      only upon the transfer of the Serefex Shares and the $ 25,000.00 payment in
      accordance with this Agreement
      by Defendants, as well as their compliance with all terms of this
      Agreement,
      SEREFEX
      CORPORATION, THOMAS
      J.
      CONWELL, THOMAS J. CONWELL REV TRUST, JUDITH A. CONWELL, JUDITH A. CONWELL
      REV
      TRUST, KENT CONWELL, LIONS GATE MANAGEMENT, LTD. CO., a Florida Corporation,
      for
      themselves and on behalf of their respective shareholders, members, directors,
      officers, employees, managers, attorneys, other agents, successors, heirs,
      executors, and assigns, release and forever discharge one another along with
      their respective shareholders, members, officers, directors, managers,
      employees, attorneys, other agents, successors, assigns, and any affiliated
      company thereof, from all debts, demands, actions, causes of action, charges,
      complaints, judgments, suits, warranties, covenants, contracts, promises,
      obligations, liability, or claims of any kind, type or description, whether
      known or unknown, disputed or undisputed, accrued or unaccrued, liquidated
      or
      contingent, foreseen or unforeseen, asserted or unasserted, in contract, tort,
      at law, or in equity, existing at the time of this Agreement, arising out of
      or
      connected with any of the claims asserted or that could have been asserted
      in
the
      action filed in the Twentieth Judicial Circuit of Florida, in and for Collier
      County, Florida,
      being
      Case No. 04-2834-CA,
      styled
Serefex
      Corporation v. Conwell, et al.,
      including, without limitation any matter that could have been pleaded, that
      arose out of the same transaction or occurrence of the above-referenced
      litigation whatsoever in law or in equity, whether known or unknown, fixed
      or
      contingent, EXCEPT
      as
      relating to the enforcement of this Settlement
      Agreement and Mutual Release.
      

     

    D. This
      Settlement Agreement and Mutual Release is a compromise of disputed claims
      between the parties and is made in good faith to settle the present dispute
      and
      avoid all future disputes between the parties. It is not intended to be
      construed as an admission of any liability on the part of any of the parties
      released in this Agreement.

     

    E. This
      Agreement shall be governed by and construed in accordance with the laws of
      the
      State of Florida.

     

    F. The
      parties agree that their successors, assigns, and related entities shall be
      bound by the terms of this Agreement.

     

    G. No
      change, modification, termination, or attempted waiver of any of the provisions
      of this Agreement shall be binging upon any party hereto unless reduced to
      writing and signed by the party or parties against whom enforcement is
      sought.

     

    H. All
      understandings and agreements between the parties are contained herein and
      the
      parties acknowledge that no representations or warranties have been made other
      than those specifically set forth herein.

     

    I. The
“date
      of this Agreement” is the date which appears in the first paragraph
      hereof.

     

    J. If
      any
      litigation shall be instituted for the purpose of enforcing or interpreting
      any
      of the provisions of this Agreement, the prevailing party or parties as
      determined by the court having jurisdiction thereof, shall be entitled to
      recover, in addition to all other relief, an amount equal to all costs and
      expenses incurred in connection therewith, including, without limitation,
      reasonable attorney’s fees at the trial level and in connection with all
      appellate proceeding.

     

    K. The
      parties agree that every provision of this Agreement shall be construed as
      if
      both parties were equally responsible for drafting the provision.

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

     

    L. The
      parties agree that this Agreement is subject to approval of the board of
      directors of SEREFEX.

     

    M. The
      parties agree to use best efforts to procure a stipulation and order authorizing
      and directing RBC Dain Rauscher to transfer to SEREFEX any and all of the
      Serefex Shares RBC Dain Rauscher holds for the Defendants, including but not
      limited to all shares held in RBC Dain Rauscher account number
      5509-5152.

     

    N. This
      Agreement may be executed in counterparts, and a facsimile signature shall
      be
      deemed as good as an original.

     

    O. Concerning
      the Serefex Shares identified on Exhibit A, the parties agree as follows: (1)
      The parties acknowledge that certificated shares identified on the attached
      Receipt dated March 1, 2004 have been delivered to Serefex already; however,
      Defendants still have the obligation to effect the legal transfer of these
      shares to Serefex by execution of the required stock powers; (2) With respect
      to
      the 700,000 Lionsgate Management shares represented by certificate numbers
      917,
      920 and 921, Defendants represent that Lionsgate Management held such shares
      in
      trust for Defendant Thomas J. Conwell as the beneficial owner of such shares,
      as
      explained in the Affidavit of Thomas J. Conwell attached as Exhibit __. To
      the
      extent any Defendant has or had any right, title or interest in such shares,
      all
      Defendants hereby convey and transfer such rights, title or interest to Serefex
      by execution of this Agreement and, with respect to Defendant Thomas J. Conwell
      specifically, by execution of the Affidavit attached as Exhibit __; (3) With
      respect to the 100,000 Alliance shares represented by certificate number 2377,
      Defendants represent that they have never owned any rights, title or interest
      with respect to such shares. To the extents Defendants might have any rights,
      title or interest in such shares; Defendants hereby convey and transfer such
      rights, title or interest to Serefex by execution of this
      Agreement.

     

    IN
      WITNESS whereof, the Parties hereto have executed this Settlement
      Agreement and  Mutual
      Release as
      of the
16
      day of
      March 2006.

     

    SEREFEX
      CORPORATION                               
LIONS
      GATE MANAGEMENT, LTD. CO., 

    

    ____________________________   ____________________________________

    By:       
By:

    Its:                                                                       
      Its:

     

                                                                               
      THOMAS
      J.
      CONWELL REV TRUST 

     

    ____________________________   ____________________________________

    THOMAS
      J.
      CONWELL                                      By:

                                                                                
      Its:

     

                                                                                
      JUDITH A. CONWELL REV TRUST, 

    

    ____________________________   ____________________________________

    JUDITH
      A.
      CONWELL                                       
By:

                                                                                
      Its:

     

    ____________________________   

    KENT
      CONWELL       

     

    

    
      
        
        

      

      
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