Document:

f8k102313ex10i_yappn.htm

Exhibit 10.1

 

AMENDMENT TO SERVICES AGREEMENT

 

By this Amendment to the Services Agreement dated March 21, 2013 (the "Services Agreement") by and between Ortsbo, Inc., an Ontario, Canada corporation and its subsidiary Ortsbo USA Inc., a Delaware corporation (collectively, "Ortsbo") at 30 West Beaver Creek Road Suite 111 Richmond Hill, ON L4B 3Kl, Yappn Acquisition Sub, Inc. (“Yappn Acquisition”) a Delaware corporation at 1001 Avenue of the Americas, 11th Floor, New York, New York 10018, and Yappn Corp. (“Yappn”), a Delaware corporation at 1001 Avenue of the Americas, 11th Floor, New York, New York 10018.

 

WHEREAS, Acquisition Sub assumed the liabilities of Intertainment Media under the Services Agreement,

 

WHEREAS, the parties wish to provide for certain additional agreements and obligations as set forth herein;

 

NOW THEREFORE, for good and valuable consideration, the parties agree as follows:

 

1.           “Ortsbo Property” is defined in Section 5.1 of the Agreement.

 

2.           Ortsbo hereby grants Yappn Corporation (“Yappn”) an exclusive license to use Ortsbo Property relating to Social Media applications. Ortsbo may not use the Ortsbo Property in connection with a Third Party use.

 

3.          Ortsbo also herby grants Yappn a right of first refusal to purchase the Ortsbo Property (the “Right of First Refusal”).  In the event that Ortsbo shall receive and wishes to accept an offer to sell all or part of the Ortsbo Property (the “Offer”), Ortsbo shall deliver a written notice to Yappn containing the proposed terms and conditions of the Offer, including all material terms of the offer and the names and addresses of the offeree. At the request of Yappn, Ortsbo shall demonstrate to a reasonable satisfaction of Yappn’s board of directors that the Offer is bona fide.   Yappn shall have the right, subject to any applicable approvals, exercisable by written notice to Ortsbo to purchase the Ortsbo Property, including the applicable source code of Ortsbo’s representational state transfer (RST) application programming interface (API) subject to negotiated and acceptable terms which may require a fair market opinion. If and to the extent that Yappn does not exercise its right to purchase the Ortsbo Property, Ortsbo may continue to consummate the Offer. The right of first refusal granted pursuant to this paragraph shall terminate two years from the date of this Agreement.

 

4.           Ortsbo also hereby grants Yappn the right to purchase a copy of the source code of Ortsbo’s representational state transfer (RST) application programming interface (API) as it relates to Social Media applications for a purchase price of $2,000,000 which may be paid in cash or restricted shares of the Common Stock of Yappn based on a per share price of $.15 per share. Yappn may exercise the right granted to it pursuant to this paragraph by notifying Ortsbo of its intent and the purchase and sale of the source code of Ortsbo representational state transfer (RST) application programming interface (API) as it relates to Social Media applications shall take place as soon as reasonably practicable after such notice but no longer than 180 days from such notice.

 

  

  

  

 

5.           Within ten days of the date hereof Yappn shall issue Ortsbo 1,666,666 shares of its restricted Common Stock (based on a $.15 per share price).

 

6.1 Representations and Warranties:

	
  

	
(a)

	
Ortsbo acknowledges that the shares of Common Stock issuable pursuant to this Amendment Agreement (the “Shares”) have not been registered under Act and accordingly are “restricted securities” within the meaning of Rule 144 of the Act.  As such, the Shares may not be resold or transferred unless Yappn has received an opinion of counsel and in form reasonably satisfactory to Yappn that such resale or transfer is exempt from the registration requirements of that Securities Act of 1933, as amended (the “Act”)

 

	
(b)  

	
Ortsbo has been afforded the opportunity to ask questions of and receive answers from duly authorized officers or other representatives of Yappn concerning an investment in the Shares and any additional information that Ortsbo has requested.

 

	
  

	
(c)

	
Ortsbo’s parent company, Intertainment Media Inc. has experience in investments in restricted and publicly traded securities, and has experience in investments in speculative securities and other investments that involve the risk of loss of investment.  Ortsbo and Intertainment Media Inc. acknowledge that an investment in the Shares is speculative and involves the risk of loss. Ortsbo’s parent company, Intertainment Media Inc. has the requisite knowledge to assess the relative merits and risks of this investment without the necessity of relying upon other advisors, and Ortsbo and Intertainment Media Inc. can afford the risk of loss of his entire investment in the Shares.

	
  

	
(d)

	
Ortsbo is acquiring the Shares for its own account for long-term investment and not with a view toward resale or distribution thereof except in accordance with applicable securities laws.

 

	
  

	
(e)

	
Ortsbo represents and warrant that its entry into this Amendment Agreement and the obligations and duties undertaken hereunder will not conflict with, constitute a breach of or otherwise violate the terms of any agreement or court order to which Ortsbo is a party, and Ortsbo has all requisite corporate authority and approval to enter into this Amendment Agreement and it is not required to obtain the consent of any person, firm, corporation or other entity in order to enter into this Agreement.

 

  

  

  

 

7. Ortsbo hereby indemnifies and agrees to defend and hold harmless Yappn from and against any and all claims, demands and actions, and any liabilities, damages or expenses resulting therefrom, including court costs and reasonable attorneys' fees, arising out of or relating to the agreements and representations made by Ortsbo in this Amendment Agreement.  Yappn’s obligations under this paragraph shall survive the termination, for any reason, of this Amendment Agreement.

 

8. If any term, provision, covenant or condition of this Agreement, or the application thereof to any person, place or circumstance, shall be held by a court of competent jurisdiction to be invalid, unenforceable or void, the remainder of this Amendment Agreement and such term, provision, covenant or condition as applied to other persons, places and circumstances shall remain in full force and effect.

 

9.  This Amendment Agreement shall be construed in accordance with, and all actions arising hereunder shall be governed by, the laws of the State of New York.  Any dispute arising hereunder shall be subject to the exclusive jurisdiction of the federal and state courts of the state of New York, New York County.

 

10.   Except as amended and/or supplemented hereby the terms and provisions of the Services Agreement shall remain in full force and effect.

 

IN WITNESS WHEREOF, the Parties hereto have set their hands, intending to be bound hereby, on the Effective Date shown below.

 

  

  

  

 

	ORTSBO USA INC.	 
	 	 	 
	
By: 

	/s/ David Lucatch	 
	 	 	 
	Name:	David Lucatch	 
	 	 	 
	Title:	President	 

 

 

	ORTSBO, INC.	 
	 	 	 
	
By: 

	/s/ David Lucatch	 
	 	 	 
	Name:	David Lucatch	 
	 	 	 
	Title:	President and CEO	 

 

	Yappn Corp.	 
	 	 	 
	
By: 

	/s/ Craig McCannell	 
	 	 	 
	Name:	Craig McCannell	 
	 	 	 
	Title:	CEO	 

 

 

	Yappn Acquisition Sub, Inc.	 
	 	 	 
	
By: 

	/s/ Craig McCannell	 
	 	 	 
	Name:	Craig McCannell	 
	 	 	 
	Title:	CEO	 

	Acknowledged:	 
	 	 
	Intertainment Media, Inc.	 
	 	 	 
	
By: 

	/s/ Anthony R. Pearlman	 
	 	 	 
	 	Anthony R. Pearlman (Name)	 
	 	 	 
	 	COO and President  (Title)EX-4.1

Exhibit 4.1

GENERAL MILLS, INC.

OFFICERS’ CERTIFICATE

AND

AUTHENTICATION ORDER

Pursuant to the Indenture, dated as of February 1, 1996 (as amended, the “Indenture”),

between General Mills, Inc. (the “Company”) and U.S. Bank National Association (formerly

known as First Trust of Illinois, National Association), as trustee (the “Trustee”), resolutions

adopted by the Board of Directors of the Company on April 24, 2012 and resolutions adopted by the
Finance Committee of the Board of Directors of the Company on June 24, 2013 (all such resolutions
being referred to herein collectively as the “Resolutions”), and an Officers’ Certificate and
Authentication Order dated January 31, 2013, the Company established the terms of a series of
Securities in accordance with Section 301 of the Indenture bearing the title “Floating Rate Notes
due 2016” (the “Notes”) and established the form of the Notes in accordance with Section 201 of the
Indenture. This Officers’ Certificate and Authentication Order is being delivered to the Trustee
pursuant to the Indenture and the Resolutions to request the authentication and delivery of
additional Notes pursuant to Section 303 of the Indenture and to comply with the provisions of
Section 102 of the Indenture.

Capitalized terms used but not defined herein and defined in the Indenture shall have the

respective meanings ascribed to them in the Indenture.

Pursuant to Section 303 of the Indenture, you are hereby requested, as Trustee under
the Indenture, to authenticate, in the manner provided by the Indenture, $250,000,000 aggregate
principal amount of the Notes registered in the name of Cede & Co., which Notes have
been heretofore duly executed by the proper officers of the Company and delivered to you as
provided in the Indenture, and to deliver said authenticated Notes to J.P. Morgan Securities LLC
through the facilities of The Depository Trust Company against payment therefor on October 29,
2013.

Each of the undersigned has read the pertinent sections of the Indenture, including Section
303 thereof and the definitions in the Indenture relating thereto, and certain other corporate
documents and records. In the opinion of each of the undersigned, the undersigned has made such
examination or investigation as is necessary to enable the undersigned to express an

informed opinion as to whether or not the conditions precedent to the issuance, authentication and

delivery of such Securities contained in the Indenture have been complied with. In the

opinion of the undersigned, all conditions precedent to the issuance, authentication and delivery
of the Notes have been complied with.

Insofar as this Officers’ Certificate and Authentication Order relates to legal matters, it is

based upon the Opinion of Counsel delivered by the Company to the Trustee contemporaneously

herewith.

1

IN WITNESS WHEREOF, the undersigned have hereunto signed our names on behalf of the
Company.

Dated: October 29, 2013

GENERAL MILLS, INC.

By /s/ Donal L. Mulligan

Donal L. Mulligan

Its Executive Vice President, Chief Financial Officer

By /s/ Kofi A. Bruce

Kofi A. Bruce

Its Vice President, Treasurer

CERTIFICATION

I, Chris A. Rauschl, an Assistant Secretary of the Company, do hereby certify that Donal L.
Mulligan is on the date hereof the duly elected or appointed Executive Vice President, Chief
Financial Officer of the Company and the signature set forth above is his own true signature, and
further certify that Kofi A. Bruce is on the date hereof the duly elected or appointed Vice
President, Treasurer of the Company and the signature set forth above is his own true signature.

/s/ Chris A. Rauschl

Chris A. Rauschl

Assistant Secretary

2

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