Document:

ex10-16.htm

    
      

    

    EXHIBIT
10.16

     

     

    EXCLUSIVE
PATENT AND TRADE SECRET LICENSE AGREEMENT

     

    This Exclusive Patent and Trade Secret
License Agreement (this “Agreement”) is made effective as of April 2, 2008 by
and between: Visual Management Systems, Inc, a Nevada corporation ("Licensee"),
having its principal place of business at 1000 Industrial Way North Suite C,
Toms River, NJ 08755; and IDS Patent Holding, LLC, a New York limited liability
company ("the Licensor"), with a principal place of business at 543 Broadway,
Massapequa, New York 11758 (each individually a “Party” to this Agreement or
jointly the “Parties”).

     

    WITNESSETH:

     

    WHEREAS, the Licensor desires to
license to the Licensee and the Licensee desires to obtain a license from the
Licensor to use the  intellectual property owned or controlled by the
Licensor as described in U.S. Patent Application Serial Numbers: 10/145,058 and
10/279,279 (the “Patent Applications”) filed by the Licensor, and any related
Trade Secrets or know how (collectively, the “Licensed Technology”), and to
maintain said license as regards any issued patents included in the Licensed
Technology for the entire unexpired term of such patents, and as regards any
Trade Secret, perpetually.

     

    WHEREAS, the Licensee desires to make
exclusive use of the Licensed Technology only in the business of the
manufacture, distribution, integration and installation of digital video
surveillance devices for the security industry (the “Licensed Use”), which
security industry (the “Industry”) is the Licensee’s normal line of business,
and Licensor desires to grant to Licensee an exclusive license for the Licensed
Use within the Industry, excepting that upon certain conditions as set forth
herein Licensor may grant third party licenses for the Licensed Use within the
Industry.

     

    NOW, THEREFORE, in consideration of the
mutual covenants and promises contained herein and for good and valuable other
consideration the receipt and sufficiency of which is hereby acknowledged, the
parties hereto do hereby agree as follows:

     

     

    ARTICLE
I — GRANTS OF LICENSES

     

    1.01           Grant

     

    
      	 
      	
              (a)

            	
              Subject
      to Section 1.01(b), Licensor grants to the Licensee and its Related
      Companies an exclusive (subject to the terms of this Agreement) license to
      the Licensed Technology to make, have made, use and sell products
      utilizing the Licensed Technology and to practice the Licensed Technology
      worldwide during the term of this Agreement, for the Licensed Use in the
      Industry.

            
	 	 	 
	 
      	
              (b)

            	
              The
      license granted in Section 1.01(a) shall be exclusive to Licensee for the
      Licensed Use in the Industry, subject to Section
1.01(c)

            
	 	 	 
	 
      	
              (c)

            	
              The
      Licensor shall not retain the right to use the Licensed Technology for the
      Licensed Use in the Industry for any purpose whatsoever, except in the
      case of settlement of any or all claims made by Licensor against
      third-parties for infringement of any kind of the Licensed
      Technology.  Licensor retains the right, in such situations to,
      in its reasonable business judgment, enter into one or more further
      licenses of the Licensed Technology in the Industry, except where use of
      any such Licensed Technology would compete in any material respect with
      the then current business of
Licensee.

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    1.02           Duration

     

    All
licenses granted herein for any Licensed Patent component of the Licensed
Technology and any Licensed Use shall continue until expiration of any issued
patents that form a part of the Licensed Technology, subject in all respects to
Article II, below.  All licenses granted herein for any Trade Secret
component of the Licensed Technology, for the lesser of (i) in perpetuity or
(ii) until the Trade Secret is no longer protectable as a trade secret, subject
in all respects to Article II, below.

     

    1.03           Scope

     

    
      	 
      	
              (a)

            	
              The
      licenses granted herein are licenses to (i) make, have made, use, lease,
      sell, export and import digital video surveillance devices or other
      Industry products utilizing the Licensed Technology (the “Licensed
      Products”); (ii) make, have made, use, export and import machines, tools,
      materials and other instrumentalities, insofar as such machines, tools,
      materials and other instrumentalities are involved in, incidental to or
      otherwise desirable for the development, manufacture, testing or repair of
      Licensed Products which are or have been made, used, leased, owned, sold,
      exported or imported by the grantee of such license; and (iii) convey to
      any customer, with respect to any Licensed Product which is sold or leased
      to such customer, rights to use and resell such Licensed Product as sold
      or leased (whether or not as part of a larger combination), (iv) combine
      and/or bundle such Licensed Products (as sold or leased) with any other
      product utilized in the Industry, (v) a method or process which is other
      than the inherent use of such Licensed Product itself (as sold or leased),
      (vi) a method or process involving the use of a Licensed Product to
      manufacture (including associated testing) any other product utilized in
      the Industry, and (vii) all other rights in respect of the Licensed
      Product held by the Licensor with respect to Industry
      applications.

            
	 	 	 
	 
      	
              (b)

            	
              The
      grant of each license hereunder includes the right to grant sublicenses
      within the scope of such license.  Any such sublicense may be
      made effective retroactively, but not prior to the effective date
      hereof.

            
	 	 	 
	 
      	
              (c)

            	
              Notwithstanding
      anything to the contrary contained herein, the licenses granted hereunder
      and all other terms and conditions hereof shall be subject to all
      restrictions imposed by all other agreements between the Parties and any
      restrictions imposed on the Licensor by law.

            
	 	 	 
	 
      	
              (d)

            	
              If
      the scope of the license provided for in this Agreement is found by any
      court having jurisdiction to be too broad or too restrictive, then the
      license shall nevertheless remain effective, but shall be considered
      amended to a point considered by said court as reasonable and, as so
      amended, shall be fully
enforceable.

            

    

     

    
      
        
        

      

      
        -2-

        
          

        

      

      
        
        

      

    

     

    1.04           Future
Licensor Patents and Trade Secrets

     

    
      	 
      	
              (a)

            	
              Licensor
      shall give Licensee prompt written notice of all material developments in
      the Patent Applications.  Licensor shall, at Licensee’s expense,
      provided Licensee with such additional information and documents with
      regard to any Licensor Patents and Trade Secrets which Licensee may
      reasonably request from time to time.

            
	 	 	 
	 
      	
              (b)

            	
              Licensor
      hereby grants and agrees to grant to Licensee and its Related Companies
      and their duly authorized agents, under 37 CFR § 1.14(a) and comparable
      rules of foreign patent practice, a power of inspection of all U.S. and
      foreign patent applications included in the Licensed Patents and Licensor
      further agrees to execute and deliver to Licensee and its Related
      Companies such further documents and take such further action as may be
      requested to carry out the intent of this provision.  Licensor
      shall keep Licensee fully informed of the progress of the prosecution of
      all such Licensed Patents.

            

    

     

    1.05           Confidentiality
of Trade Secrets

     

    The
parties hereto shall hold the Trade Secrets in confidence, shall reproduce the
Trade Secrets only to the extent necessary or desirable for the exercise of its
rights hereunder or for further research and development related to the Trade
Secrets and shall restrict disclosure of such Trade Secrets to those individuals
who have a reasonable need to know, provided, however, that confidentiality
obligations hereunder shall not apply to any Trade Secrets which (a) have been
or become published or otherwise known to the public or in the industry through
no breach of this Agreement on the part of a party, (b) are independently
developed by the Licensee or its Related Companies
without the use of or reference to any Trade Secrets provided by
Licensor, or (c) are required to be disclosed pursuant to a valid and proper
requirement of a governmental agency or court of competent
jurisdiction.  The parties shall use reasonable efforts to provide
each other with prompt written notice of any requirement of a governmental
agency or court to disclose such Trade Secrets after receipt of written notice
thereof and shall use reasonable efforts to assist the other party in preventing
such disclosure or limiting the disclosure, if prevention is not
possible.

     

    1.06           Ability
to Provide Licenses

     

    
      	 
      	
              (a)

            	
              Licensor
      warrants that, upon execution hereof by it and as of the effective date
      hereof, there are no commitments or restrictions which will limit the
      licenses and rights which are purported to be granted hereunder by it,
      except, as otherwise imposed upon the Licensor by law.

            
	 	 	 
	 
      	
              (b)

            	
              Licensor’s
      failure to meet any obligation hereunder, due to the assignment of title
      to any Licensed Patent, or the granting of any licenses, to the United
      States Government or any agency or designee thereof pursuant to a statute
      or regulation of, or contract with, such Government or agency, shall not
      constitute a breach of this
Agreement.

            

    

     

    
      
        
        

      

      
        -3-

        
          

        

      

      
        
        

      

    

     

    1.07           Representations
of Licensor

     

    
      	 
      	
              (a)

            	
              Licensee
      acknowledges and understands that the Patent Applications as filed with
      the United States Patent and Trademark Office (the “USPTO”) were finally
      rejected by the USPTO examiner, and that such rejections are currently the
      subject of an appeal by the Licensor.  As such, Licensor gives
      no assurances that a patent will be issued with respect to one or both of
      the Patent Applications.  The Licensee agrees that the use of
      the Licensed Technology is at Licensee’s risk.  The Licensed
      Technology is provided “AS IS” “WITH ALL FAULTS” and without warranty of
      any kind.

            
	 	 	 
	 
      	
              (b)

            	
              LICENSOR
      MAKES NO WARRANTY OF ANY KIND TO LICENSEE OR ANY THIRD PARTY, EXPRESS,
      IMPLIED OR STATUTORY, WITH RESPECT TO THE LICENSED TECHNOLOGY, OR OUTPUT
      OF OR RESULTS OBTAINED FROM THE LICENSED TECHNOLOGY, INCLUDING, WITHOUT
      LIMITATION, ANY IMPLIED WARRANTY OF MERCHANTABILITY, FITNESS FOR A
      PARTICULAR PURPOSE, ACCURACY, OPERABILITY OR NON-INFRINGEMENT AND ALL SUCH
      WARRANTIES ARE HEREBY EXCLUDED BY LICENSOR AND WAIVED BY
      LICENSEE.

            

    

     

    1.08           Patent
Maintenance and Other Fees

     

    
      	 
      	
              (a)

            	
              Licensor
      shall pay all sums required and necessary for payment of all fees,
      including, without limitation, governmental and attorneys’, and other
      amounts payable and/or owing to any entity relating to prosecution of the
      Licensed Technology and for maintenance fees for all of the Licensed
      Technology, including without limitation any and all fees related to
      Licensed Patent maintenance, provided, however, that such obligation is
      subject to the Licensor receiving capital contributions from its members
      sufficient for such purposes. Licensor shall provide Licensee with a list
      of all United States and foreign patents now or hereafter included within
      the Licensed Technology that are issued by the USPTO or any foreign patent
      office and the dates upon which maintenance fees are due, should any such
      patents issue.  Licensor shall supplement this list upon the
      issuance of any new patents in the future which are included within the
      Licensed Technology.  Licensor shall provide Licensee with
      written confirmation of payment of all maintenance fees within 5 business
      days of payment thereof.  If, for any reason, Licensor fails to
      make a required maintenance fee payment, Licensee and/or its Related
      Companies may, in its sole discretion, make the required maintenance fee
      payment.  Licensor hereby appoints Licensee and its Related
      Companies as Licensor’s attorney-in-fact for the purpose of making any
      such maintenance fee payment.

            

    

    

    
      
        
        

      

      
        -4-

        
          

        

      

      
        
        

      

    

     

     

    ARTICLE
II  — TERMINATION

     

    2.01           Breach
or Bankruptcy

     

    In the
event of a breach of this agreement by or bankruptcy of either party, the other
party may, in addition to any other remedies that it may have, at any time
terminate this Agreement by not less than thirty days' written notice specifying
such breach, unless within the period of such notice all breaches specified
therein shall have been remedied.

     

    2.02           Voluntary
Termination

     

    By
written notice from the Licensee to the Licensor, the Licensee may voluntarily
terminate all or a specified portion of the licenses and rights granted to it
hereunder.  Such notice shall specify the effective date (not more
than six (6) months prior to the giving of said notice) of such termination and
shall clearly specify any affected Licensed Patent, Trade Secret, Invention or
product.

     

    2.03           Abandonment

     

    The
Licensee shall be deemed to have abandoned those rights granted hereunder if
both the Licensee and its Related Companies exercise none of their rights
hereunder in respect of any (i) Licensed Technology within four years from the
date on which the first of the Licensed Patents, if granted, is issued by the
USPTO and the Licensee has received notice thereof pursuant to Section 1.04(a)
or (ii) Trade Secret within four years from the date of this
Agreement.   If the Licensee and its Related Companies abandon
any of their rights hereunder, the Licensor may terminate (by written notice
from the Licensor to the Licensee) all or a specified portion of only those
rights granted hereunder which have been abandoned.  Such notice shall
specify the effective date of such termination and shall clearly specify the
Licensed Patent and/or Trade Secret rights to which it applies.

     

    2.04           Expiration
of Term

     

    This
Agreement shall continue from the date hereof until terminated pursuant to its
terms.

     

    2.05           Breach
By Licensee of Other Agreements

     

    In the
event that the Licensee fails to perform any obligation or otherwise breaches
any agreement under the terms of either (a) that certain Unsecured Convertible
Promissory Note, issued by the Licensee to Intelligent Digital Systems, LLC,
dated as of the date hereof (the “Note”), (b) that certain Operating Agreement
of Licensor, dated as of the date hereof (the “IPH Operating Agreement), or (c)
that certain Consulting Agreement, by and between the Licensee and Jay Russ,
dated as of the date hereof (the “Consulting Agreement,” and together with the
Note and the IPH Operating Agreement , the “IDS Agreements”), and in the case of
(a) above, such failure constitutes an “event of default” (as such term is
defined in the Note) under such Note, then in any such case, Licensor shall have
the right, exercisable by delivery of written notice thereof to the Licensee in
accordance with the terms of Section 3.09 of this Agreement, to immediately
terminate this Agreement and all of Licensor’s obligations hereunder without
liability of any kind.

     

    
      
        
        

      

      
        -5-

        
          

        

      

      
        
        

      

    

     

    2.06           Survival

     

    Any
termination of licenses and rights of a party under the provisions of this
Article II shall not affect such party's licenses, rights and obligations with
respect to any Licensed Product made prior to such termination, and shall not
affect the other party's licenses and rights (and obligations related thereto)
hereunder.

     

     

    ARTICLE
III — MISCELLANEOUS PROVISIONS

     

    3.01           Disclaimer

     

    Licensor
makes no representations, extends no warranties of any kind, and confers no
right by implication, estoppel or otherwise, other than the licenses, rights and
warranties herein expressly granted.

     

    3.02           Negative
Covenant

     

    Licensor
shall not, without the prior written consent of the Licensee, engage in any
research or development activities relating to the Licensed Technology for the
benefit of any third party other than Licensee or governmental authorities and
not-for-profit entities providing funding therefor.

     

    3.03           Infringement

     

    Upon
learning of any infringement by any third party of any claim of any Licensed
Patent or the unauthorized disclosure of any Trade Secret to any person or
entity (other than the parties hereto and their employees), the party learning
of such infringement or disclosure shall promptly notify the other party hereto
in writing thereof providing factual details thereof.  The right to
proceed against third parties and/or institute a suit for any cause arising out
of such unlicensed use or settle any such suit or dispute rests with
Licensor.  Licensee agrees to reasonably cooperate with Licensor in
all respects, including to be named as a plaintiff in any suit or proceeding
brought against any third party, to have any of Licensee’s employees testify
when requested by Licensor, and to make available any records, papers,
information, specimens, and the like, each at Licensor’s sole cost and
expense.  Any recovery received pursuant to such suit, proceeding or
settlement shall belong exclusively to Licensor.  Should Licensor fail
to institute a suit or undertake actions to prevent the continuation of the
unlicensed use within two (2) months of notification by Licensee, then Licensee
shall have the right to initiate a suit, proceeding and/or settlement, Licensee
shall have the right to control and manage such suit, proceeding and/or
settlement and Licensor agrees to be named as a plaintiff (if necessary) and
assist and cooperate with Licensee in all respects as reasonably requested by
Licensee in bringing and proceeding with any such suit, at Licensee’s sole cost
and expense.  Any recovery received pursuant to such suit, proceeding
or settlement shall be allocated among the parties as follows:  To
first pay for or reimburse Licensee for all costs and expenses relating to such
suit or proceeding initiated by Licensee; and second, any remaining balance to
Licensor.

     

    
      
        
        

      

      
        -6-

        
          

        

      

      
        
        

      

    

     

    3.04           Patent
Reexamination

     

    Upon
learning of the filing of any petition with the USPTO or any foreign
governmental patent authority for the reexamination of a Licensed Patent
included in the Licensed Technology (a “Reexamination”), the party learning of
such Reexamination shall promptly notify the other party hereto in writing
thereof providing factual details thereof.  Licensor and Licensee
and/or their Related Companies shall each have the option either alone or
jointly to take such measures as may be required to defend such Reexamination or
otherwise protect such Licensed Patent(s).  If both parties elect to
defend any such Reexamination, they shall cooperate and assist in the
preparation and defense of such proceeding and any other related
action.  Costs and expenses, including attorneys’ and experts’ fees
shall be split evenly by the Licensor and the Licensee.

     

    3.05           Commercialization
of Licensed Products

     

    Licensee
and its Related Companies shall have no obligation to commercialize, develop,
market and sell Licensed Products, and shall be free to sell such Licensed
Products at any price determined by the Licensee and/or its Related Companies in
its sole and absolute discretion, except to the extent any such obligation is
otherwise imposed upon Licensor by law.

     

    3.06           Indemnification

     

    
      	 
      	
              (a)

            	
              Licensee
      shall defend, indemnify and hold Licensor harmless from all liabilities,
      losses and expenses arising from (i) any act or omission of Licensee which
      results in the breach of any restriction imposed by law on the Licensor
      arising in connection with the Licensee’s acquisition or development of
      the Licensed Technology, or (ii) the use by Licensee of any of the rights
      granted hereunder.

            
	 	 	 
	 
      	
              (b)

            	
              The
      parties shall defend, indemnify and hold each other harmless from all
      liabilities, losses and expenses arising from any negligent act of
      omission which results in the misappropriation of any Trade
      Secret.

            
	 	 	 
	 
      	
              (c)

            	
              If
      in connection with any infringement action, Reexamination or related
      action, one party elects not to participate in such action, then the party
      pursuing such action shall defend, indemnify and hold the other party
      harmless from all liabilities, losses and expenses arising from such
      infringement action, Reexamination or related action, other than liability
      for costs and expenses (including reasonable attorney’s fees) otherwise
      expressly provided for herein.

            

    

     

    3.07           Further
Assurances

     

    The
parties hereto agree to execute and deliver any and all further documents and to
perform such other acts as may be necessary or desirable to carry out and make
effective the transactions contemplated by this Agreement and to protect the
rights of the parties hereunder.  Without limiting the generality of
the foregoing, Licensor shall, at Licensee’s expense, execute such assignments,
memoranda or other documents to be recorded with the U.S. Patent and Trademark
Office and/or the U.S. Copyright Office as the Licensee may reasonably
request.

     

    
      
        
        

      

      
        -7-

        
          

        

      

      
        
        

      

    

     

    3.08           Nonassignability

     

    The
parties hereto have entered into this Agreement in contemplation of personal
performance, each by the other, and intend that the licenses and rights granted
hereunder to a party not be extended to entities (other than the Licensee’s
Related Companies) without the other party's express written
consent.  Notwithstanding the foregoing, Licensee and its Related
Companies shall have the right to grant exclusive or nonexclusive sublicenses
within the scope of this license in any country upon such terms and conditions
as Licensee and/or its Related Companies deems appropriate.

     

    3.09           Addresses

     

    Any
notice or other communication hereunder shall be sufficiently given to the
Licensee when sent by certified mail addressed to:

     

    Visual
Management Systems, Inc.

    1000
Industrial Way North Suite C

    Toms
River, NJ 08755

    

    or to
Licensor when sent by certified mail addressed to:

     

    IDS
Patent Holding, LLC

     

    Facsimile:
(516) 541-1077

     

    

     

    Changes
in such addresses may be specified by written notice.

     

    3.10           Choice
of Law

     

    The
parties desire and agree that the law of the State of New York (without regard
to principles of conflicts of laws) shall apply in any dispute arising with
respect to this Agreement.

     

    3.11           Integration

     

    This
Agreement sets forth the entire agreement and understanding between the parties
as to the subject matter hereof and merges all prior discussions between
them.  Neither of the parties shall be bound by any warranties,
understandings or representations with respect to such subject matter other than
as expressly provided herein or in a writing signed with or subsequent to
execution hereof by an authorized representative of the party to be bound
thereby.

     

    3.12           Cumulative
Rights

     

    The
rights, powers and remedies of each party shall be in addition to, and not in
limitation of, all rights, powers and remedies provided at law or in equity, or
under any other agreement between the parties hereto.  All of such
rights, powers and remedies shall be cumulative, and may be exercised
successively or concurrently.

     

    
      
        
        

      

      
        -8-

        
          

        

      

      
        
        

      

    

     

    3.13           Counterparts

     

    This
Agreement may be executed in any number of copies or counterparts, each of which
shall be deemed an original and all of which together shall constitute one and
the same instrument.

     

     

     

    [Signature
page follows]

    
      
        
        

      

      
        -9-

        
          

        

      

      
        
        

      

    

    

     

    IN WITNESS WHEREOF, each of the parties
has caused this Exclusive Patent and Trade Secret License Agreement to be
executed in duplicate originals by its duly authorized representatives on the
respective dates entered below.

     

    Visual
Management Systems, Inc.

     

    

     

    By: _______________________________

    Name:
Jason Gonzalez

    Title:
President

    Date:
April 2, 2008

     

    IDS
Patent Holding, LLC.

    By:  Intelligent
Digital Systems, LLC, its Managing Member

     

    

     

    By: _______________________________

    Name: Jay
Russ

    Title:
Managing Member

    Date:
April 2, 2008

     

    

    
      
        
        

      

      
        -10-

        
          

        

      

      
        
        

      

    

     

    DEFINITIONS
APPENDIX

     

    GENERAL
DEFINITIONS:

     

    

     

    “Invention”
means any idea, discovery, or other invention in which Licensor has rights and
that are covered by the Patent Applications, including without limitation those
patentable, covered by a patent or any application for patent filed in any
country prior to the termination of this Agreement or otherwise protectable
under Title 35 of the United States Code (or any comparable foreign laws), or
any federal and/or state laws relating to ideas, discoveries, inventions or
trade secrets, specifically including, without limitation, any new process,
method, machine, manufacture or composition of matter or any improvement of any
of the foregoing.

     

    “Licensed
Patents” means all patents issued (including, without limitation, any reissues,
extensions or reexaminations thereof) in respect of the Patent Applications or
applied for in any or all countries of the world for Inventions:

     

    
      	 
      	
              (i)

            	
              which
      Inventions are owned (either solely or jointly with others), licensed or
      controlled at any time by Licensor or any of Licensor’s Related Companies,
      or

            
	 	 	 
	 
      	
              (ii)

            	
              with
      respect to which Inventions Licensor shall at any time otherwise have the
      right to grant the licenses and rights which are herein granted by
      Licensor (but only to the extent of such
right).

            

    

     

     

    “Licensed
Product” means any tangible property, the manufacture or sale of which by the
Licensee or any of its Related Companies would, but for licenses or rights under
this Agreement, constitute (i) infringement of Licensed Patents or Trade Secrets
by the Licensee or such Related Company or (ii) any other violation of
applicable law by the Licensee or such Related Company for which Licensor would
be entitled to compensation or other remedy on account thereof.

     

    “misappropriated”
and “misappropriation” shall have the meaning ascribed to such terms under the
UTSA.

     

    “Related
Companies” of an entity are those entities so designated by notice given by the
Licensee to the Licensor together with the now existing or hereafter arising
Subsidiaries and affiliates of such entity for so long as such Subsidiaries and
affiliates constitute Subsidiaries and affiliates of such entity.

     

    “Subsidiary”
means a corporation or other legal entity (i) the majority of whose shares or
other securities entitled to vote for election of directors (or other managing
authority) is now or hereafter controlled by such company either directly or
indirectly; or (ii) which does not have outstanding shares or securities but the
majority of whose ownership interest representing the right to manage such
corporation or other legal entity is now or hereafter owned and controlled by
such company either directly or indirectly; but any such corporation or other
legal entity shall be deemed to be a Subsidiary of such company only as long as
such control or ownership and control exists.

     

    
      
        
        

      

      
        -11-

        
          

        

      

      
        
        

      

    

     

    “Trade
Secrets” means all of Licensor’s trade secrets (as defined under the UTSA),
know-how, and other confidential information, including, without limitation,
applications, technical and business data, know-how, formulae, processes,
models, designs, plans, drawings, specifications, samples, reports, data charts,
customer lists, studies, price lists, findings, inventions and ideas relating to
any of the Licensed Patents or Inventions and all copyright in any of the
foregoing (a) which are owned (either solely or jointly with others), licensed
or controlled at any time by Licensor or any of Licensor’s Related Companies, or
(b) with respect to which Inventions Licensor shall at any time otherwise have
the right to grant the licenses and rights which are herein granted by Licensor
(but only to the extent of such right).

     

    “UTSA”
means the Uniform Trade Secret Act adopted by the National Commissioners on
Uniform State Laws in 1979, as amended in 1985.

     

     

     

     

    -12-ex10-17.htm

    
      

    

    EXHIBIT
10.17

     

    Registration
Rights Agreement

    

    THIS
REGISTRATION RIGHTS AGREEMENT (the "Agreement") is made as of April 2, 2008 (the
"Effective Date"), by and among Visual Management Systems, Inc., a Nevada
corporation, with a principal place of business at 1000 Industrial Way North
Suite C, Toms River, NJ 08755 (the "Company"), and Intelligent Digital Systems,
LLC, a Delaware limited liability company (the “Holder”).

     

    Recitals

     

    WHEREAS,
the Company may issue shares of its Common Stock, par value $0.001 per share
(the "Common Stock"), to the Holder pursuant to the terms of the Unsecured
Convertible Promissory Note of even date herewith (the "Note”) issued pursuant
to that certain Asset Purchase Agreement of even date herewith by and among the
Company, the Holder, Jay Russ, an individual, and IDS Patent Holding, LLC, a New
York limited liability company (the "Asset Purchase Agreement");

     

    WHEREAS,
it is a condition precedent to the consummation of the transaction contemplated
by the Asset Purchase Agreement that the Company provide for the rights set
forth in this Agreement.

     

    NOW,
THEREFORE, in consideration of the mutual promises and covenants set forth
herein, the parties hereto further agree as follows:

     

    
      	
              1.

            	
              Definitions.  For
      purposes of this Agreement:

            
	 	 
	 
      	
              1.1.

            	
              The
      term "1934 Act" shall mean the Securities Exchange Act of 1934, as
      amended.

            
	 	 	 
	 
      	
              1.2.

            	
              The
      term "Act" means the Securities Act of 1933, as
amended.

            
	 	 	 
	 
      	
              1.3.

            	
              The
      term “Registration Statement” means any such form under the Act as in
      effect on the date hereof or any registration form under the Act
      subsequently adopted by the SEC that functions to register publicly
      tradable shares of the Common Stock of the Company

            
	 	 	 
	 
      	
              1.4.

            	
              The
      terms "Register," "Registered," and "Registration" refer to a registration
      effected by preparing and filing a Registration Statement or similar
      document in compliance with the Act, and the declaration or ordering of
      effectiveness of such Registration Statement or
  document.

            
	 	 	 
	 
      	
              1.5.

            	
              The
      term "Registrable Securities" means (a) all shares of  Common
      Stock, issuable to the Holder upon conversion of all or any portion of the
      principal amount or accrued interest under the Note, and (b) any shares of
      Common Stock issued or issuable by the Company in exchange or substitution
      for or otherwise in respect of any shares referred to in the foregoing
      clause (a) by way of stock dividend or split or in connection with a
      combination or subdivision of shares, reclassification, recapitalization,
      merger, consolidation or other reorganization of the
    Company.

            
	 	 	 
	 
      	
              1.6.

            	
              The
      term "Rule 144" shall mean Rule 144 as promulgated by the SEC under the
      Act, as such Rule may be amended from time to time, or any similar
      successor rule that may be promulgated by the SEC.

            
	 	 	 
	 
      	
              1.7.

            	
              The
      term "Rule 145" shall mean Rule 145 as promulgated by the SEC under the
      Act, as such Rule may be amended from time to time, or any similar
      successor rule that may be promulgated by the SEC.

            
	 	 	 
	 
      	
              1.8.

            	
              The
      term "SEC" shall mean the Securities and Exchange
    Commission.

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	
              2.

            	
              Demand
      Registration.  At any time after the Note shall have become
      convertible into Common Stock in accordance with its terms, if the Company
      shall receive a written request from the Holder that the Company file a
      Registration Statement under the Securities Act with respect to any or all
      of the Registrable Securities, then the Company shall use its best efforts
      as soon as practicable, and in any event within ninety (90) days of the
      receipt of such a request, to file such Registration Statement and, as
      expeditiously as reasonably possible, cause such Registration Statement to
      become effective under the Act.  The Company shall be obligated
      to effect only one (1) registration pursuant to this Section
      2.

            
	 	 
	
              3.

            	
              Piggyback
      Registration Rights.  If at any time after the Note shall have
      become convertible into Common Stock in accordance with its terms (but
      without any obligation to do so) the Company proposes to register
      (including for this purpose a registration effected by the Company for its
      shareholders) any of its stock or other securities under the Act in
      connection with a public offering of such securities solely for cash,
      other than: (i) a registration on Form S-8 or other similar successor
      form, relating solely to the sale of securities to participants in a
      Company stock plan or to other compensatory arrangements to the extent
      includable on Form S-8, or other similar successor form, or (ii) a
      registration on Form S-4, or other similar successor form, the Company
      shall, at such time, promptly give to the Holder written notice of such
      registration.  Upon the written request of the Holder given
      within twenty (20) days after receipt by the Holder of such notice by the
      Company, the Company shall use its best efforts to cause to be registered
      under the Act all of the Registrable Securities that the Holder has
      requested to be included and  registered on such Registration
      Statement.  In the event that in connection with an underwritten
      offering the managing underwriter advise the Company that market factors
      require a limitation of the number of shares to be underwritten, then
      subject to the terms of any other agreements to which the Company is a
      party, the Company and its underwriter shall allocate the number of shares
      requested to be registered as follows: (i) first, to the Company, and (ii)
      second, to the Holder and other security holders requesting registration
      of securities pro rata according to the number of shares requested to be
      registered by each such security holder.  The Company shall have
      no obligations under this Section 3 to make any offering of its
      securities, or to complete an offering of its securities that it proposes
      to make, and shall incur no liability to the Holder for its failure to do
      so.  In
      connection with any offering involving an underwriting of shares being
      issued by the Company, the Company shall not be required to include any of
      the Registrable Securities in such underwriting unless the Holder accepts
      the terms of such underwriting as agreed upon by the Company and such
      underwriter(s).

            
	 	 
	
              4.

            	
              Expenses.  All
      expenses incurred in complying with Sections 2 and 3 hereof, including
      without limitation all registration and filing fees, printing expenses,
      fees and disbursements of counsel for the Company and independent public
      accountants for the Company, any state securities or “blue sky” fees and
      expenses, fees of the National Association of Securities Dealers, Inc.,
      reasonable fees and disbursements of one (1) counsel to the Holder, fees
      and expenses of transfer agents and registrars, but excluding any Selling
      Expenses (as  hereinafter defined), are herein called
      “Registration Expenses”.  All underwriting discounts and selling
      commissions applicable to the sale of Registrable Securities are herein
      called “Selling Expenses”.  The Holder will pay all Selling
      Expenses in connection with each Registration Statement filed pursuant to
      Section 2 or Section 3 hereof on a pro rata basis (based on the number of
      shares registered) with each other party that registers shares pursuant to
      such registration.  The Company will pay all Registration
      Expenses in connection with each Registration Statement filed pursuant to
      Sections 2 and 3 hereof.

            
	 	 
	
              5.

            	
              Obligations
      of the Parties

            
	 	 
	 
      	
              5.1.

            	
              Obligations
      of the Company.  Whenever required under this Agreement to
      affect the registration of any Registrable Securities, the Company shall
      use its commercially reasonable efforts
to:

            

    

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

    
      	 
      	 
      	
              5.1.1.

            	
              Prepare
      and file with the SEC a Registration Statement with respect to such
      Registrable Securities and use its commercially reasonable efforts to
      cause such Registration Statement to become effective, and, upon the
      request of the Holder, keep such Registration Statement effective until
      the earlier of: (x) the date six months from the date of effectiveness
      thereof, or (y) the date on which all of the Registrable Securities are
      sold;

            
	 	 	 	 
	 
      	 
      	
              5.1.2.

            	
              Prepare
      and file with the SEC such amendments and supplements to such Registration
      Statement and the prospectus used in connection with such Registration
      Statement as may be necessary to comply with the provisions of the Act
      with respect to the disposition of all Registrable Securities covered by
      such Registration Statement;

            
	 	 	 	 
	 
      	 
      	
              5.1.3.

            	
              Use
      commercially reasonable efforts to register and qualify the securities
      covered by such Registration Statement under such other securities or blue
      sky laws of such jurisdictions as shall be reasonably requested by the
      Holder, provided that the Company shall not be required in connection
      therewith or as a condition thereto to qualify to do business or to file a
      general consent to service of process in any such states or
      jurisdictions.

            
	 	 	 	 
	 
      	 
      	
              5.1.4.

            	
              Notify
      Holder at any time when a prospectus relating thereto is required to be
      delivered under the Act, of the happening of any event as a result of
      which the prospectus included in such Registration Statement contains an
      untrue statement of a material fact or omits any fact necessary to make
      the statements therein not misleading, and, at the request of Holder, the
      Company will prepare a supplement or amendment to such prospectus so that,
      as thereafter delivered to the purchasers of such Registrable Securities,
      such prospectus will not contain any untrue statement of a material fact
      or omit to state any fact necessary to make the statements therein not
      misleading;

            
	 	 	 	 
	 
      	 
      	
              5.1.5.

            	
              Provide
      a transfer agent and registrar for all Registrable Securities registered
      pursuant hereunder, not later than the effective date of such Registration
      Statement;

            
	 	 	 	 
	 
      	 
      	
              5.1.6.

            	
              Advise
      the Holder promptly after it shall receive notice or obtain knowledge
      thereof, of the issuance of any stop order by the SEC suspending the
      effectiveness of such Registration Statement or the initiation or
      threatening of any proceeding for such purpose and use commercially
      reasonable efforts to prevent the issuance of any stop order or to obtain
      its withdrawal if such stop order should be issued.

            
	 	 	 	 
	 
      	
              5.2.

            	
              Obligations
      of the Holder.  It shall be a condition precedent to the
      obligations of the Company to take any action pursuant to Section 2 or
      Section 3 with respect to the Registrable Securities of the Holder, that
      the Holder shall furnish to the Company such information regarding itself
      and the Registrable Securities held by it to effect the registration of
      the Holder's Registrable Securities.  The Holder agrees to
      cooperate with the Company as reasonably requested by the Company in
      connection with the preparation and filing of any Registration Statements
      applicable to its Registrable Securities, and agrees that, upon receipt of
      any notice from the Company of the happening of any event of the kind
      described in Section 5.1.4 above, such Holder will immediately discontinue
      disposition of Registrable Securities pursuant the Registration Statement
      covering such Registrable Securities until such Holder’s receipt of the
      copies of the supplemental or amended prospectus contemplated by Section
      5.1.4 and, if so directed by the Company, Holder shall deliver to the
      Company (at the expense of the Company) or destroy (and deliver to the
      Company a certificate of destruction) all copies in such Holder’s
      possession of the prospectus covering such Registrable Securities current
      at the time of receipt of such
notice.

            

    

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

     

    
      	
              6.

            	
              Delay
      of Registration.  No Holder shall have any right to obtain or
      seek an injunction restraining or otherwise delaying any Registration as
      the result of any controversy that might arise with respect to the
      interpretation or implementation of this Agreement.

            
	 	 
	
              7.

            	
              Indemnification.

            
	 	 
	 
      	
              7.1.

            	
              To
      the extent permitted by law, the Company will indemnify and hold harmless
      the Holder against any losses, claims, damages, or liabilities to which
      they may become subject under the Act, the 1934 Act or other federal or
      state securities law, insofar as such losses, claims, damages, or
      liabilities (or actions in respect thereof) arise out of or are based upon
      any of the following statements, omissions or  violations
      (collectively, a "Violation"):

            
	 	 	 
	 
      	 
      	
              7.1.1.

            	
              Any
      untrue statement or alleged untrue statement of a material fact contained
      in a Registration Statement, including any preliminary prospectus or final
      prospectus contained therein or any amendments or supplements thereto
      (collectively, the "Filings");

            
	 	 	 	 
	 
      	 
      	
              7.1.2.

            	
              The
      omission or alleged omission to state in the Filings a material fact
      required to be stated therein, or necessary to make the statements therein
      not misleading; or

            
	 	 	 	 
	 
      	 
      	
              7.1.3.

            	
              Any
      violation or alleged violation by the Company of the Act, the 1934 Act,
      any state securities law or any rule or regulation promulgated under the
      Act, the 1934 Act or any state securities law; and the Company will pay
      any legal or other expenses reasonably incurred by any person to be
      indemnified pursuant to this Section in connection with investigating or
      defending any such loss, claim, damage, liability, or action; provided,
      however, that the indemnity agreement contained in this subsection shall
      not apply to amounts paid in settlement of any such loss, claim, damage,
      liability, or action if such settlement is effected without the consent of
      the Company (which consent shall not be unreasonably withheld), nor shall
      the Company be liable in any such case for any such loss, claim, damage,
      liability, or action to the extent that it arises out of or is based upon
      a Violation that occurs in reliance upon and in conformity with written
      information furnished expressly for use in connection with such
      Registration by any such Holder.

            
	 	 	 	 
	 
      	
              7.2.

            	
              To
      the extent permitted by law, the Holder, will indemnify and hold harmless
      the Company, each of its directors, each of its officers who has signed
      the Registration Statement, its legal counsel and accountants, each
      person, if any, who controls the Company within the meaning of the Act,
      any underwriter, any other holder of securities, selling securities in
      such Registration Statement and any controlling person of any such
      underwriter or other holder of securities, against any losses, claims,
      damages, or liabilities (joint or several) to which any of the foregoing
      persons may become subject, under the Act, the 1934 Act or other federal
      or state securities law insofar as such losses, claims, damages, or
      liabilities (or actions in respect thereto) arise out of or are based upon
      any violation of the Act, the 1934 Act or other federal or state
      securities law, in each case to the extent (and only to the extent) that
      such violation occurs in reliance upon and in conformity with written
      information furnished by such Holder expressly for use in connection with
      such Registration; and each such Holder will pay, as incurred, any legal
      or other expenses reasonably incurred by any person intended to be
      indemnified pursuant to this subsection 7.2, in connection with defending
      any such loss, claim, damage, liability, or action; provided, however,
      that the indemnity agreement contained in this subsection 7.2 shall not
      apply to amounts paid in settlement of any such loss, claim, damage,
      liability or action if such settlement is effected without the consent of
      the Holder, which consent shall not be unreasonably withheld; provided,
      that, in no event shall any indemnity under this subsection exceed the net
      proceeds from the offering received by the Holder less the aggregate
      amount of any damages which the Holder has otherwise been required to pay
      in respect of such loss, claim, damage or liability or any substantially
      similar loss, claim, damage or liability arising from the sale of such
      Registrable Securities.

            

    

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

     

    
      	 
      	
              7.3.

            	
              Promptly
      after receipt by an indemnified party under this Section 7 of notice of
      the commencement of any action (including any governmental action), such
      indemnified party will, if a claim in respect thereof is to be made
      against any indemnifying party under this Section, deliver to the
      indemnifying party a written notice of the commencement thereof and the
      indemnifying party shall have the right to participate in, and, to the
      extent the indemnifying party so desires, jointly with any other
      indemnifying party similarly noticed, to assume the defense thereof with
      counsel mutually satisfactory to the parties; provided, however, that an
      indemnified party (together with all other indemnified parties that may be
      represented without conflict by one counsel) shall have the right to
      retain one separate counsel, with the fees and expenses to be paid by the
      indemnifying party, if representation of such indemnified party by the
      counsel retained by the indemnifying party would be inappropriate due to
      actual or potential differing interests between such indemnified party and
      any other party represented by such counsel in such
      proceeding.  The failure to deliver written notice to the
      indemnifying party within a reasonable time of the commencement of any
      such action, if materially prejudicial to its ability to defend such
      action, shall relieve such indemnifying party of any liability to the
      indemnified party under this Section, but the omission so to deliver
      written notice to the indemnifying party will not relieve it of any
      liability that it may have to any indemnified party otherwise than under
      this Section.

            
	 	 	 
	 
      	
              7.4.

            	
              If
      the indemnification provided for in this Section 7 is held by a court of
      competent jurisdiction to be unavailable to an indemnified party with
      respect of any loss, claim, damage or expense referred to therein, then
      the indemnifying party in lieu of indemnifying such indemnified party
      hereunder, shall contribute to the amount paid or payable by such
      indemnified party as a result of such loss, claim, damage or expense in
      such proportion as is appropriate to reflect the relative fault of the
      indemnifying party on the one hand and of the indemnified party on the
      other in connection with the statements or omissions that resulted in such
      loss, liability, claim or expense as well as any other relevant equitable
      considerations.  The relative fault of the indemnifying party
      and of the indemnified party shall be determined by reference to, among
      other things, whether the untrue or alleged untrue statement of a material
      fact relates to information supplied by the indemnifying party or by the
      indemnified party and the parties' relative intent, knowledge, access to
      information and opportunity to correct or prevent such statement or
      omission.  In no event shall any Holder be required to
      contribute an amount in excess of the net proceeds from the offering
      received by such Holder less the aggregate amount of any damages which the
      Holder has otherwise been required to pay in respect of such loss, claim,
      damage or liability or any substantially similar loss, claim, damage or
      liability arising from the sale of such Registrable
      Securities.

            
	 	 	 
	 
      	
              7.5.

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

            
	 	 	 
	 
      	
              7.6.

            	
              The
      obligations of the Company and Holders under this Section 7 shall survive
      the completion of any offering of Registrable Securities in a Registration
      Statement under this Agreement and/or the termination of this
      Agreement.

            

    

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

     

    
      	
              8.

            	
              Reports
      Under Securities Exchange Act of 1934.  With a view to making
      available the benefits of certain rules and regulations of the SEC,
      including Rule 144 that may at any time permit a Holder to sell securities
      of the Company to the public without registration or pursuant to a
      registration on Form S-3, the Company agrees to:

            
	 	 
	 
      	
              8.1.

            	
              Make
      and keep public information available, as those terms are understood and
      defined in Rule 144, at all times after the effective date of the first
      Registration Statement filed by the Company for the offering of its
      securities to the general public;

            
	 	 	 
	 
      	
              8.2.

            	
              Take
      such action, including the voluntary registration of its Common Stock
      under Section 12 of the 1934 Act, as is necessary to enable the Holders to
      utilize Form S-3 for the sale of their Registrable Securities, such action
      to be taken as soon as practicable after the end of the fiscal year in
      which the first Registration Statement filed by the Company for the
      offering of its securities to the general public is declared effective;
      and

            
	 	 	 
	 
      	
              8.3.

            	
              File
      with the SEC in a timely manner all reports and other documents required
      of the Company under the Act and the 1934 Act.

            
	 	 	 
	
              9.

            	
              Assignment
      of Registration Rights.  The rights to cause the Company to
      register Registrable Securities pursuant to this Section may be assigned
      (but only with all related obligations) by the Holder to a transferee or
      assignee of such securities who acquires:

            
	 	 
	 
      	
              9.1.

            	
              All
      of the Holder's Registrable Securities from such Holder;
  or

            
	 	 	 
	 
      	
              9.2.

            	
              Is
      a subsidiary, parent, constituent partner or other affiliate of the
      Holder; provided that the Company is, furnished with written notice of the
      transfer in accordance with the terms of the Note, such transferee or
      assignee agrees in writing to be bound by and subject to the terms and
      conditions of this Agreement, and such assignment shall be effective only
      if immediately following such transfer the further disposition of such
      Registrable Securities by the  transferee or assignee is
      restricted under the Act.

            
	 	 	 
	
              10.

            	
              "Market
      Stand-Off" Agreement.  The Holder hereby agrees that upon
      receipt by it of notification of the commencement of a public offering by
      the Company, it will not, without the prior written consent of the
      managing underwriter, during the period commencing on the date of the
      final prospectus relating to such public offering by the Company and
      ending on the date specified by the Company and the managing underwriter
      (such period not to exceed one hundred eighty (l80) calendar days) do any
      of the following:

            
	 	 
	 
      	
              10.1.

            	
              Lend,
      offer, pledge, sell, contract to sell, sell any option or contract to
      purchase, purchase any option or contract to sell, grant any option, right
      or warrant to purchase, or otherwise transfer or dispose of, directly or
      indirectly, any securities of the Company, including (without limitation)
      shares of Common Stock or any securities convertible into or exercisable
      or exchangeable for Common Stock (whether now owned or
      hereafter  acquired); or

            
	 	 	 
	 
      	
              10.2.

            	
              Enter
      into any swap or other arrangement that transfers to another, in whole or
      in part, any of the economic consequences of ownership of any securities
      of the Company, including (without limitation) shares of Common Stock or
      any securities convertible into or exercisable or exchangeable for Common
      Stock (whether now owned or hereafter acquired), whether any such
      transaction described in clause 10.1 or 10.2 above is to be settled by
      delivery of securities, in cash or otherwise.  The foregoing
      covenants shall not apply to the sale of any Registrable Securities
      pursuant to this Agreement or to an underwriter pursuant to an
      underwriting agreement and shall only be applicable to the Holder if all
      officers and directors of the Company enter into similar
      agreements.

            

    

     

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

     

    
      	
              11.

            	
              Miscellaneous
      Terms.

            
	 	 
	 
      	
              11.1.

            	
              Termination
      of Registration Rights.  The Holder shall not be entitled to
      exercise any right provided for in this Agreement after such time at which
      all Registrable Securities held by such Holder can be sold in any
      three-month period without registration in compliance with Rule 144 or
      Rule 145 of the Act.

            
	 	 	 
	 
      	
              11.2.

            	
              Governing
      Law.  This agreement in all respects shall be governed by the
      laws of the state of New York.

            
	 	 	 
	 
      	
              11.3.

            	
              Waivers
      and Amendments.  Any term of this Agreement may be amended or
      amended and restated and the observance of any term of this Agreement may
      be waived (either generally or in a particular instance and prospectively
      but not retroactively), only with the written consent of the Company and
      the written consent of the Holder.

            
	 	 	
               

            
	 
      	
              11.4.

            	
              Successors
      and Assigns.  Except as otherwise expressly provided herein, the
      provisions of this Agreement shall inure to the benefit of, and be binding
      upon, the successors, assigns, heirs, executors and administrators of the
      parties hereto

            
	 	 	 
	 
      	
              11.5.

            	
              Entire
      Agreement.  This Agreement constitutes the full and entire
      understanding and agreement between the parties with regard to the subject
      matter hereof.

            
	 	 	 
	 
      	
              11.6.

            	
              Notices.  All
      notices and other communications required or permitted hereunder shall be
      in writing and may be delivered in person or by facsimile, electronic
      mail, courier or U.S. mail, in which event it may be mailed by
      first-class, certified or registered, postage prepaid, addressed (a) to
      the Holder, at the address set forth in the Company's records or, at such
      other address as the Holder shall have furnished to the Company or (b) if
      to the Company, at its address set forth in the introductory paragraph of
      this Agreement, or at such other address as the Company shall have
      furnished to the Holder.  All such notices and other
      communications shall be deemed given upon personal delivery, upon
      confirmation of facsimile transfer, upon confirmation of electronic mail
      transmission, upon delivery by courier or three business days after
      deposit in the United States mail.

            
	 	 	 
	 
      	
              11.7.

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

            
	 	 	 
	 
      	
              11.8.

            	
              Severability.  If
      one or more provisions of this Agreement are held to be unenforceable
      under applicable law, such provision shall be reformed to the greatest
      extent possible and limited to any jurisdiction finding such illegality
      or, if such reformation is not possible, such provision shall be excluded
      from this Agreement, and the balance of the Agreement shall be interpreted
      as if such provision were so excluded, and shall be enforceable in
      accordance with its terms.

            

    

     

     

     

    [Signature
page follows]

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

     

    IN
WITNESS WHEREOF, the parties hereto have set their hands this 2nd day of
April, 2008.

     

     

    VISUAL
MANAGEMENT SYSTEMS, INC.

     

     

    By:___________________________________

    Name:  Jason
Gonzalez

    Title:  President

     

     

    INTELLIGENT
DIGITAL SYSTEMS, LLC

     

     

    

     

     

    By:___________________________________

    Name:  Jay
Russ

    Title:  Managing
Member

     

     

     

     

     

    8

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00140-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00140-of-00352.parquet"}]]