Document:

Exhibit 10.12

 

 

LICENSE AND SUBLICENSE AGREEMENT
This License and Sublicense Agreement is made as of this 1st day of May, 2012, by and between SDJ Technologies, Inc. ("SDJ"),
a corporation organized and existing under the laws of the State of Delaware, having an office at 2125 B Madera Road, Simi Valley,
CA 93065, and Tandon Enterprises, Inc. ("Tandon"), a corporation organized and existing under the laws of the State
of Delaware, having an office at 2125 B Madera Road, Simi Valley, CA 93065. RECITALS: WHEREAS, Tandon is the licensee of certain
Patents and owner or licensor of or has the right to use or exploit, certain Technical Information (as hereinafter defined); and
WHEREAS, Tandon wishes to grant to SDJ a non-exclusive sublicense to use the subject matter of certain Patents and a non-exclusive
license or sublicense, as the case may be, to certain Technical Information, each to be used by SDJ in connection with the development,
manufacture, sale and distribution of Products (as hereinafter defined) and SDJ wishes to receive such a license, on the terms
and subject to the conditions set forth herein; NOW, THEREFORE, in consideration of the mutual covenants and agreements provided
herein, SDJ and Tandon hereby agree as follows: I. Definitions A. “Affiliate” means, with respect to a party,
any corporation or other business entity directly or indirectly controlling, controlled by or under common control with such party;
as used herein, the term "control" means possession of the power to direct, or cause the direction of the management
and policies of a corporation or other entity whether through the ownership of voting securities, by contract or otherwise. B.
"Licensed Patents" means all patents and patent applications listed in Exhibit A attached hereto and made a part
hereof. C. "Products" means (i) assembled memory modules and (ii) memory data storage products. D. "Technical
Information" means all know-how, trade secrets, inventions, data, technology, and other information now owned or licensed
by Tandon, or which Tandon has the right to use or exploit, or hereafter acquired licensed or sublicensed by Tandon during the
term of this Agreement, relating to the Licensed Patents, including, but not limited to, (i) scientific data, (ii) processes and
analytic methodology and (iii) that listed in Exhibit A attached hereto and made a part hereof. II. Grant of License Subject to
the terms of this Agreement, Tandon hereby grants, and SDJ hereby accepts, a similar non-exclusive, worldwide, royalty-free non-transferable,
non-sublicensable, sublicense to use the subject matter of the Licensed Patents and a similar non-exclusive license or sub-license,
as the 

 

    	 

    	 

    

 

 

 case
may be, to the Technical Information, each for use by SDJ solely in connection with the manufacture, design, distribution and
sale of Products.  III. Fee In consideration of the rights granted to SDJ under this Agreement, SDJ shall issue to Tandon
as a fee a one time issuance of 1,000,000 shares of its common stock. IV. Disclosure of New Information, Developments,
and Improvements A. Disclosure. Tandon shall keep SDJ fully informed of all relevant information it becomes aware of
concerning the Licensed Patents. Toward such end, Tandon shall freely provide SDJ with all Technical Information or other know-how,
trade secrets, inventions, data, technology and information acquired or developed by Tandon or its Affiliates, or which Tandon
or its Affliates have the right to use or exploit, during the term of this Agreement relating to the Licensed Patents. B. Cooperation.
In connection with the furnishing by Tandon of Technical Information, Tandon agrees, at the request and expense of SDJ, to (i)
allow SDJ personnel to visit Tandon's manufacturing and research facilities and to consult with Tandon personnel at mutually agreeable
times, to discuss and review the Technical Information for the purposes contemplated by this Agreement; and (ii) send Tandon personnel
to visit SDJ's manufacturing and research facilities at mutually agreeable times, to similarly discuss and review such Technical
Information. V. Confidential Information During the term of this Agreement and for a period of 5 (five) years after expiration
or termination hereof, each party shall keep confidential and not disclose to others or use for any purpose other than as authorized
herein, any confidential information supplied by the other party or its employees or representatives and identified by the disclosing
party as confidential ("Confidential Information"); provided, however, that these obligations of confidentiality and
non-use shall not apply to the extent that the receiving party can establish that information is not the other party's Confidential
Information, including but not limited to establishing that the information: (i) entered the public domain without the receiving
party's breach of any obligation owed to the disclosing party; (ii) had become known to the receiving party prior to the disclosing
party's disclosure of such information; (iii) was permitted to be disclosed by the prior written consent of the disclosing party;
(iv) had become known to the receiving party from a source other than the disclosing party, other than by breach of a confidentiality
obligation owed to the disclosing party; (v) was disclosed by the disclosing party to a third party without restrictions on its
disclosure; or (vi) was independently developed by the receiving party without breach of this Agreement. In addition, each party
shall have the right to disclose Confidential Information supplied by the other party to third parties under a secrecy agreement
with essentially the same confidentiality provisions provided herein, solely in connection with the exercise of its rights under
this Agreement.  IV. Infringement  

 

    	 

    	 

    

 

 

 
A. Defense of Litigation. If any infringement action is brought against SDJ or any of its Affiliates because of actual
or anticipated infringement regarding the subject matter hereof, SDJ shall promptly notify Tandon and send Tandon copies of all
papers that have been served. Tandon shall promptly defend against such infringement action, once notified by SDJ. If Tandon fails
to defend such infringement action after being notified by SDJ, SDJ shall have the right but not the obligation to defend the
action itself. If SDJ does undertake such defense, Tandon shall cooperate with SDJ and SDJ shall be entitled to select counsel.
B. Response to Infringement by Third Parties. If, during the term of subject matter hereof of them, this Agreement, either
party becomes aware of any third party infringement or threatened infringement of any subject matter hereof, the following provisions
shall apply: (i) The party having such knowledge shall promptly give notice to the other party, with all available details. (ii)
Tandon shall have the right, but not the obligation, to bring suit in its name, or in the name of SDJ if necessary, at its own
expense to restrain such infringement and to recover profits and damages. SDJ agrees to being joined as a party plaintiff and
to cooperate in the prosecution thereof as is reasonably necessary, at Tandon's expense. If Tandon decides to undertake such suit,
then Tandon shall have the sole right to control prosecution, and the right to settle and compromise such action with SDJ's prior
written consent, which shall not be unreasonably withheld. (iii) If Tandon fails to take action within sixty (60) days after becoming
aware of such infringement, in the first instance or by notice from SDJ, then SDJ, at any time prior to Tandon thereafter filing
an action, shall have the right but not the obligation to take such action in its own name or in the name of Tandon as it deems
necessary or appropriate. Tandon shall cooperate with SDJ as is reasonably necessary in any such action brought by SDJ. If SDJ
brings legal action, SDJ shall have the sole right to control prosecution, and the right to settle and compromise such action
with Tandon's prior written consent, which shall not be unreasonably withheld. (iv) In the event any monetary recovery in connection
with such infringement action is obtained, such recovery shall be applied in the following priority: first, to reimburse Tandon
and SDJ by the proportion and up to the extent of their out-of-pocket expenses (including reasonable attorneys' fees) in prosecuting
such infringement; second, to be shared by the proportion and up to the extent of any damages established, third, the balance,
if any, to be shared one-half by Tandon and one-half by SDJ. VII. Representations, Warranties, and Covenants A. Tandon
Representations. Tandon represents, warrants and covenants that: (i) Tandon is a corporation duly organized, existing and
in good standing under the laws of the State of Delaware with full right, power and authority to enter into and perform this Agreement
and to grant all of the rights, powers and authorities herein granted.

 

    	 

    	 

    

 

 

 (ii)
The execution, delivery, and performance of this Agreement do not conflict with, violate, or breach any agreement to which Tandon
is a party, or Tandon's certificate of incorporation or bylaws. (iii) This Agreement has been duly executed and delivered by Tandon
and is a legal, valid, and binding obligation enforceable against Tandon in accordance with its terms. (iv) Tandon knows of no
fact which does or could materially adversely affect the rights granted to SDJ hereunder. B. SDJ Representations. SDJ represents,
warrants and covenants that: (i) SDJ is a corporation duly organized, existing, and in good standing under the laws of the State
of Delaware, with full right, power and authority to enter into and perform this Agreement and to grant all of the rights, powers,
and authorities herein granted. (ii) The execution, delivery, and performance of this Agreement do not conflict with, violate,
or breach any agreement to which SDJ is a party, or SDJ's certificate of incorporation or bylaws. (iii) This Agreement has been
duly executed and delivered by SDJ, and is a legal, valid, and binding obligation enforceable against SDJ in accordance with its
terms. VIII. Term and Termination A. Term. This Agreement shall be effective as of the date first set forth above
and shall remain in effect for years, unless earlier terminated as provided herein. The provisions of Paragraphs V., VI. B and
VII hereof shall survive the expiration or termination of this Agreement, except as otherwise provided herein. B. Termination
for Breach. If either SDJ or Tandon breaches or defaults in the performance or observance of any of the material provisions
of this Agreement, and such breach or default is not cured within thirty (30) days after the giving of notice by the other party
specifying such breach or default, the non-defaulting party shall have the right to terminate this Agreement, effective without
further notice to the defaulting party. C. Effect of Termination. Except as otherwise provided in this Agreement, upon
termination of this Agreement: (i) All rights, privileges, licenses and sublicenses granted hereunder shall terminate and revert
to Tandon, and SDJ shall not thereafter make any use whatsoever of any Technical Information or Licensed Patents; (ii) Except
as provided herein, SDJ shall promptly return or provide to Tandon all Technical Information previously supplied by Tandon; and

 

    	 

    	 

    

 

 

(iii) Tandon, at its election, shall grant SDJ sufficient time to
sell off its existing stock of the Products. (iv) Notwithstanding anything herein to the contrary, SDJ shall be entitled to retain
one archival copy of all materials covered by Paragraph V., for the sole purpose of determining SDJ's ongoing confidentiality
obligations. D. No Prejudice. Termination of this Agreement for any reason shall be without prejudice to and shall not
affect the right of either party to recover any and all damages to which it may be entitled, or exercise any other remedies which
it may otherwise have. IX. No other License or Sublicense During
the term hereof, Tandon agrees that if shall not grant any other right to use or exploit or any license or sublicense, to any
third party with respect to the Licensed Patents or the Technical Information. X. Miscellaneous A. Entire Agreement.
This Agreement sets forth the entire agreement and understanding between the parties and supersedes all previous agreements, promises,
representations, understandings, and negotiations, whether written or oral, between the parties with respect to the subject matter
hereof; none of the terms of this Agreement shall be amended or modified except in writing signed by the parties hereto. B. Assignment.
Neither party may assign any right or obligation hereunder without the written consent of the other party, except if such assignment
arises under a transaction in which the assigning party is selling its entire business or a line of business to which this Agreement
relates or that party is being acquired or merging with a third party. This Agreement shall be binding upon and inure to the benefit
of the parties' respective successors and assigns. Any attempted assignment in violation of this provision shall be void and of
no effect. C. Severability. If and solely to the extent that any provision of this Agreement shall be invalid or unenforceable,
or shall render this entire Agreement to be unenforceable or invalid, such offending provision shall be of no effect and shall
not affect the validity of the remainder of this Agreement or any of its provisions; provided, however, the parties shall use
their respective reasonable efforts to renegotiate the offending provisions to best accomplish the original intentions of the
parties. D. Waivers. A waiver by either party of any term or condition of this Agreement in any one instance shall not
be deemed or construed to be a waiver of such term or condition for any similar instance in the future or of any subsequent breach
hereof. All rights, remedies, undertakings, obligations and agreements contained in this Agreement shall be cumulative and none
of them shall be a limitation of any other remedy, right, undertaking, obligation, or agreement.

 

    	 

    	 

    

 

 

 E.
Notices. Any notice, consent or approval permitted or required under this Agreement shall be in writing sent by registered
or certified airmail, postage pre-paid, or by overnight courier or by facsimile (confirmed by mail) and addressed as set forth
on the first page of this agreement. All notices shall be deemed to be effective on the date of mailing. In case any party changes
its address at which notices are to be received, written notice of such change shall be given as soon as practicable to the other
party. F. Compliance with Law. Each party hereto shall comply with all applicable laws, rules, ordinances, guidelines,
consent decrees and regulations of any federal, state or other governmental authority. G. Force Majeure. No party shall
be liable for failure to perform or delay in performing obligations set forth in this Agreement, and no party shall be deemed
in breach or default of its obligations, if, to the extent and for so long as, such failure, delay, breach, or default is due
to natural disasters or any similar causes reasonably beyond the control of such party. Any party desiring to invoke the protection
of Force Majeure shall promptly notify the other party of such desire and shall use reasonable efforts to resume performance of
its obligations. H. Governing Law. This Agreement is deemed to have been entered into in the State of California, and its
interpretation, construction, and the remedies for its enforcement or breach are to be applied pursuant to and in accordance with
the laws of the State of California. IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the
date first written above by their duly authorized officers. Tandon Enterprises, Inc. By: Name: Title: SDJ Technologies, Inc. By:
Name: Title: 

 

    	 

    	 

    

 

 

 
Exhibit A Licensed Patents U.S. Patent 8,122,319 U.S. Patent No. 6,119,049 U.S. Reissue Patent No. RE 39,016 U.S. Patent
No. 7,238,550 Technical Information That “unpatented technology” referenced in Section 4 of that certain Technology
Transfer and Hold Harmless Agreement by and between Tandon Enterprises, Inc. and Chuck Peddle.Exhibit 10.13

 

 

 

	NON-COMPETITION AND NON-SOLICITATION
    AGREEMENT This Non-Competition And Non-Solicitation Agreement (this “Agreement”) is dated as of May 1, 2012 by
    and between Tandon Enterprises, Inc., a Delaware corporation (“Tandon”), and SDJ Technologies, Inc., a Delaware
    corporation (“SDJ”). RECITALS WHEREAS, to date, Syrma Technologies Pvt Ltd. (“Syrma”) has overseen
    and fulfilled, on behalf of, SDJ, an assembled memory module business (the “AMM Business”) pursuant to which Syrma
    (i) assembled the modules, (ii) shipped directly to SDJ’s customers and (iii) effected the invoicing with respect to
    such shipment and sales; WHEREAS, further to a services agreement of even date herewith, Syrma and SDJ have agree that the
    relationship regarding the AMM Business will be altered as follows (i) Syrma will act as a contract manufacturer and will
    ship such modules to SDJ’s customers of the aforementioned assembled memory modules further to a customary EMS contract
    and (ii) SDJ will invoice it’s customers directly; [WHEREAS, to support the AMM Business, Tandon and Syrma executed
    a License Agreement of even date herewith (the “Syrma License”) whereby Tandon agreed to license certain intellectual
    property to Syrma necessary for the operation of the AMM Business;] WHEREAS, on July 7, 2010, SDJ and Monster Cable Products,
    Inc. (“Monster”) executed a License Agreement, as amended on each of August 24, 2011 and April 4, 2012 (the “Monster
    License”) whereby Monster granted SDJ the exclusive, world-wide right to develop, manufacture, sell and distribute memory
    data storage products under the Monster trademarks and logos (the “Monster Business”); WHEREAS, to support the
    Monster Business, Tandon and SDJ executed a License Agreement of even date herewith (the “SDJ License”) whereby
    Tandon agreed to license certain intellectual property to SDJ necessary for the operation of the Monster Business in exchange
    for shares of SDJ common stock; WHEREAS, the AMM Business and Monster Business are together known as the “Business”;
    WHEREAS, following the SEA Closing Date, SDJ desires to receive, and Tandon is willing to provide, or cause to provide for
    a limited period of time, certain services in connection with the Business, subject to the terms and conditions of a Services
    Agreement of each date herewith (the “Services Agreement”); WHEREAS, each of the SDJ License, Syrma License [and
    SDJ Sublicense] and Services Agreement shall be effective as of the closing of that certain Share Exchange Agreement of even
    date herewith (the “SEA”) by and between Tandon Digital, Inc., a Delaware corporation (’’Tandon Digital"),
    and SDJ, the closing of the SEA to be conditioned on the initial closing of up to a $5.5 million private placement of Tandon
    Digital's common stock (the “SEA Closing Date”);

 

    	 

    	 

    

 

 

	WHEREAS, on and after the SEA Date,
    SDJ is to continue to engage in the Business, including the Restricted Activities (as defined herein); NOW, THEREFORE, in
    consideration of the foregoing and the mutual agreements contained herein, in the SEA and in the other documents referenced
    above, the parties hereto agree as follows: SECTION 1. Definitions.
    For purposes of this Agreement, the following terms shall have the following meanings: (a) “Affiliates”
    means, with respect to a party, any corporation or other business entity directly or indirectly controlling, controlled by
    or under common control with such party; as used herein, the term "control" means possession of the power to direct,
    or cause the direction of the management and policies of a corporation or other entity whether through the ownership of voting
    securities, by contract or otherwise. (b) “SDJ Bankruptcy” means that date SDJ becomes insolvent; or SDJ files
    a petition in bankruptcy or insolvency; or SDJ is adjudicated bankrupt or insolvent; or if SDJ files any petition or answer
    seeking reorganization, readjustment or arrangement of SDJ’s business under any law relating to bankruptcy or insolvency;
    or if a receiver, trustee or liquidator is appointed for any of the property of SDJ and within 60 days thereof SDJ fails to
    secure a dismissal thereof; or SDJ makes any assignment for the benefit of creditors; or of government expropriation of any
    material portion of the assets of SDJ. (c) “Competing
    Business” means any business that is engaged, directly or indirectly, in Restricted Activities. (d) “Non-Compete
    Period” means the period commencing on the SEA Closing Date and automatically terminating without further documentation
    on earlier of (i) the termination of the SDJ License or (ii) the SDJ Bankruptcy. (e) “Non-Solicitation
    Period” means that period commencing on the SEA Closing Date and automatically terminating without further documentation
    on the (i) earlier of the termination of the SDJ License or (ii) the SDJ Bankruptcy. (f) “Restricted
    Activities” means (i) the development, manufacture, sale and distribution of assembled memory modules and memory
    data storage products; (ii) the marketing, packaging, advertising and promotion of any of the products and services listed
    in this definition; in each case, carried on within the Territory during the Non-Compete Period. (g) “Territory”
    means the United States of America, Puerto Rico and Canada [others?] SECTION 2. Effectiveness.
    This Agreement shall be effective as of the SEA Closing Date and (a) shall be null and void and of no further force and effect
    if the SEA Agreement is terminated in accordance with its terms prior to SEA Closing Date and (b) shall terminate at the end
    of the Non-Compete Period.

 

    	 

    	 

    

 

 

	 SECTION 3. Agreement
    Not to Compete. (a) Except as provided in Sections 3(b) and (c), Tandon shall not and shall cause each of its Affiliates
    not to, (i) directly or indirectly, participate in, engage in or carry on any Restricted Activities or own, operate, control,
    share any revenues of or have any profit or other debt or
    equity interest in any Competing Business or (ii) actively assist any person or entity (other then SDJ or its subsidiaries)
    in any way (including by means of proving financing to such Person), directory or indirectly, to participate in, engage in
    or carry on any Restricted Activities or own, operate, control, share any revenues of or have any profit or other debt or
    equity interest in any Competing Business. (b) Notwithstanding anything herein to the contrary, Section 3(a) shall not prohibit
    either Tandon or its Subsidiaries from the following activities. (i) in the ordinary course of business of Tandon or any of
    its Affiliates, the purchase of products or services from, or sale of products or services to, a person or entity that is
    engaged in Restricted Activities, provided that the primary purpose of any such purchases or sales is not to assist such person
    or entity in engaging in or establishing a Competing Business; or (ii) the beneficial ownership of not more than an aggregate
    of 5.0% of the outstanding voting power of any person or entity engaged in any Competing Business whose securities are listed
    on any national securities exchange or automated quotation system, provided that Tandon nor Syrma, or any of its Affiliates,
    directly or indirectly, controls such Competing Business; (c) the event Tandon or any of its Affiliates acquires an ownership
    or other interest in, any Competing Business in excess of the percentage threshold set forth in Section 3(b)(ii), Section
    3(a) shall nevertheless be deemed not breached in the event that Tandon, or the relevant Affiliate, uses all reasonable efforts
    to dispose of such interest or indebtedness in excess of such thresholds in a bona fide sale at market value (as determined
    in good faith by the Board of Directors of Tandon) as soon as possible, Tandon, or the relevant Affiliates completes the sale
    of such interest or indebtedness in excess of such thresholds within 12 months of the date of acquisition of such interest
    or indebtedness. For the avoidance of doubt, Tandon, or the relevant Affiliates, will be in breach of this Agreement if it
    continues to have any ownership or other interest in, or indebtedness of, such Competing Business in excess of such thresholds
    beyond 12 months following the date of the acquisition of such interest or indebtedness. (d) During the Non-Compete Period,
    Tandon shall not, and shall cause each of its Affiliates not to, enter into any agreement to license or otherwise exploit
    any mark using the word "Monster" or any derivation thereof for use in any Restricted Activities or Competing Business.
    SECTION 4. Agreement not to Solicit.

 

    	 

    	 

    

 

 

	 (a) During the Non-Solicitation
    Period, neither Tandon nor any of its Affiliates will (a) solicit, recruit or hire any employee of SDJ or any of its subsidiaries
    or (b) solicit or encourage any employee of SDJ or any of its subsidiaries to leave the employment of SDJ or such subsidiary,
    provided that this Section will not prohibit (i) general solicitations of or advertisements for employment by Tandon or any
    of its Affiliates that are not specifically directed toward such employees and (ii) the solicitation, recruitment or hiring
    by Tandon or any of its Affiliates of any such employee whose employment with SDJ or any of its subsidiaries was involuntarily
    terminated prior to such solicitation, recruitment or hiring. (b) During the Non-Solicitation Period, neither SDJ nor any
    of its subsidiaries will (a) solicit, recruit or hire any employee of Tandon or any of its Affiliates or (b) solicit or encourage
    any employee of Tandon or any of its Subsidiaries to leave the employment of Tandon or such Affiliates, provided that this
    Section will not prohibit (i) general solicitations of or advertisements for employment by SDJ or any of its subsidiaries
    that are not specifically directed toward such employees and (ii) the solicitation, recruitment or hiring by SDJ or any of
    its subsidiaries of any such employee whose employment with Tandon or any of its Affiliates was involuntarily terminated prior
    to such solicitation, recruitment or hiring. SECTION 5. Miscellaneous.
    (a) Expenses. All costs and expenses
    incurred in connection with this Agreement and the transactions contemplated hereby shall be paid by the party incurring such
    costs and expenses. (b) Notices.
    All notices, requests, consents, claims, demands, waivers and other communications hereunder shall be in writing and shall
    be deemed to have been given (i) when delivered by hand (with written confirmation of receipt); (ii) when received by the
    addressee if sent by a nationally recognized overnight courier (receipt requested); (iii) on the date sent by facsimile or
    e-mail of a PDF document (with confirmation of transmission) if sent during normal business hours of the recipient, and on
    the next business day if sent after normal business hours of the recipient; or (iv) on the third day after the date mailed,
    by certified or registered mail, return receipt requested, postage prepaid. Such communications must be sent to the respective
    parties at the following addresses (or at such other address for a party as shall be specified in a notice given in accordance
    with this Section 5(b)): If to Tandon: 2125 B Madera Road, Simi Valley, CA 93065 Facsimile: 805-582-4431 E-mail: dltandon@tandon.com
    Attention: CEO If to SDJ: 2125 B Madera Road, Simi Valley, CA 93065 Facsimile: 805-582-4431 E-mail: jltandon@monsterdigital.com
    Attention: CEO

 

    	 

    	 

    

 

 

	 (c) Headings.
    The headings in this Agreement are for reference only and shall not affect the interpretation of this Agreement. (d) Severability.
    If any term or provision of this Agreement is invalid, illegal or unenforceable in any jurisdiction, such invalidity, illegality
    or unenforceability shall not affect any other term or provision of this Agreement or invalidate or render unenforceable such
    term or provision in any other jurisdiction. (e) Entire
    Agreement. This Agreement and the documents to be delivered hereunder constitute the sole and entire agreement of the
    parties to this Agreement with respect to the subject matter contained herein, and supersede all prior and contemporaneous
    understandings and agreements, both written and oral, with respect to such subject matter. (f) Assignability.
    This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and permitted
    assigns; provided, however, that no party hereto may assign its rights or delegate its obligations under this Agreement without
    the express prior written consent of the other party hereto. Notwithstanding anything herein to the contrary, (i) in the event
    any person or entity acquires, by any means, including by merger or consolidation, assets of SDJ or its subsidiaries, including
    equity interests in any such Subsidiaries, that constitute all or substantially all the consolidated assets of SDJ and its
    subsidiaries, SDJ may assign its rights and obligations hereunder to such acquirer and (ii) Tandon agrees not to effect or
    enter into any agreement to effect, any sale, transfer or other disposition by any means of assets constituting all or substantially
    all the consolidated assets of Tandon to any person or entity if the successor, surviving or acquiring person or entity will
    not automatically succeed to the obligations of Tandon under this Agreement by operation of law, unless such person or entity
    agrees in writing, for the benefit of SDJ, to assume the obligations of Tandon hereunder with respect to the assets so acquired
    by such person entity. (g) No Third-party
    Beneficiaries. Except as provided herein, this Agreement is for the sole benefit of the parties hereto and their respective
    successors and permitted assigns and nothing herein, express or implied, is intended to or shall confer upon any other person
    or entity any legal or equitable right, benefit or remedy of any nature whatsoever under or by reason of this Agreement. (h)
    Amendment and Modification. This
    Agreement may only be amended, modified or supplemented by an agreement in writing signed by each party hereto. (i) Waiver.
    No waiver by any party of any of the provisions hereof shall be effective unless explicitly set forth in writing and signed
    by the party so waiving. No waiver by any party shall operate or be construed as a waiver in respect of any failure, breach
    or default not expressly identified by such written waiver, whether of a similar or different character, and whether occurring
    before or after that waiver. No failure to exercise, or delay in exercising, any right, remedy, power or privilege arising
    from this Agreement shall operate or be construed as a waiver thereof; nor shall any single or partial exercise of any right,
    remedy, power or privilege

 

    	 

    	 

    

 

 

	hereunder preclude any other or further
    exercise thereof or the exercise of any other right, remedy, power or privilege. (j) Governing
    Law. This Agreement shall be governed by and construed in accordance with the internal laws of the State of California
    without giving effect to any choice or conflict of law provision or rule (whether of the State of California or any other
    jurisdiction) that would cause the application of laws of any jurisdiction other than those of the State of California . (k)
    Submission to Jurisdiction. Any legal
    suit, action or proceeding arising out of or based upon this Agreement or the transactions contemplated hereby may be instituted
    in the federal courts of the United States of America or the courts of the State of California in each case located in the
    city of Los Angeles and county of Los Angeles, and each party irrevocably submits to the exclusive jurisdiction of such courts
    in any such suit, action or proceeding. (l)Waiver
    of Jury Trial. Each party acknowledges and agrees that any controversy which may arise under this Agreement is likely
    to involve complicated and difficult issues and, therefore, each such party irrevocably and unconditionally waives any right
    it may have to a trial by jury in respect of any legal action arising out of or relating to this Agreement or the transactions
    contemplated hereby. (m) Specific Performance.
    The parties agree that irreparable damage would occur if any provision of this Agreement were not performed in accordance
    with the terms hereof and that the parties shall be entitled to specific performance of the terms hereof, in addition to any
    other remedy to which they are entitled at law or in equity. (n) Counterparts.
    This Agreement may be executed in counterparts, each of which shall be deemed an original, but all of which together shall
    be deemed to be one and the same agreement. A signed copy of this Agreement delivered by facsimile, e-mail or other means
    of electronic transmission shall be deemed to have the same legal effect as delivery of an original signed copy of this Agreement.

 

    	 

    	 

    

 

 

	IN
    WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first above written. Tandon Enterprises, Inc.
    By: Name:
    Title: SDJ Technologies, Inc.
    By: Name:
    Title:

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