Document:

EXHIBIT 10.1

SIXTH AMENDMENT TO THE 
 INDEPENDENT CONTRACTOR CONSULTANCY AGREEMENT

This Sixth Amendment to the Independent Contractor Consultancy Agreement (the “Sixth Amendment”) is made and entered into by and between Ross Stores, Inc. (the “Company”) and Norman A. Ferber (the “Contractor”).  For the purposes of this agreement, the “Company” includes subsidiaries, parents and affiliates of Ross Stores, Inc.  The Company and Contractor previously entered into an Independent Contractor Consultancy Agreement that originally became effective February 1, 2000 and continued in effect until January 31, 2001.  The original Consultancy Agreement was extended from February 1, 2001 until January 31, 2006 through five successive Amendments to the Consultancy Agreement (together, the “Consulting Agreement”).  It is now the intention of the Company and the Contractor to further amend the Consulting Agreement as set forth below.  Accordingly, the Company and the Contractor now agree
as follows:

	
  
 
  	
  
A.
  	
  
Amendments.
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
Paragraph 2.3, will be added as follows:
  
	
   
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
2.3          Life   Insurance.  Within 30 days of the   execution of this Sixth Amendment, Company will pay to Contractor the sum of   $12,840 (the “Life Insurance Premium Benefit”), which is an amount the   parties hereby agree is the sum of the estimated annual premiums for the   three-year term of this Sixth Amendment for a policy of life insurance on the   life of Contractor (the policy will be issued for the benefit of the Norman   A. Ferber and Rosine Ferber 2001 Insurance Trust or as otherwise designated   by Contractor), with a death benefit in the amount of $2,000,000.  In addition to such sum, Company shall pay   to Contractor at the same time as its payment of the Life Insurance Premium   Benefit an amount necessary to enable Contractor to realize the Life   Insurance Premium Benefit net of any federal, state and local income tax   liability attributable to such payments by the
Company.  For such purpose, Contractor shall be   deemed to pay federal, state and local income taxes at the highest applicable   marginal rates.  Contractor will   designate the beneficiaries of such life insurance.
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
Paragraph 8.1, will be amended in its entirety to   read as follows:
  
	
   
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
8.1          Term.  This Sixth Amendment is effective as of   February 1, 2006 (“Effective Date”) and will continue until January 31, 2009   (“Consultancy Termination Date”).    This Consulting Agreement is renewable upon the mutual consent of both   parties.  The terms of such renewal   must be in writing and signed by both Company and Contractor.
  

	
  
 
  	
  
 
  	
  
Paragraph 8.2 will be amended in its entirety to   read as follows:
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
8.2          Termination   of Agreement Prior To The Consultancy Termination Date.  Other than as provided in subsection 8.4   below (“Termination Due to Death”), Contractor shall receive the full annual   fees specified in subsection 2.1 for the duration of this Agreement or any   renewal term, regardless of whether this Agreement terminates prior to the   Consultancy Termination Date, unless the Agreement is terminated by Company   for Cause or by Contractor without Good Reason.  For purposes of this Agreement, “Cause” shall mean Contractor’s   breach of sections 5 (“Confidentiality”) and 7 (“No Conflict of Interest”)   and “Good Reason” shall mean Company’s material breach of this Agreement.
  
	
   
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
Paragraph 8.4, will be added as follows:
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
8.4          Termination   Due to Death.  In the event of   Contractor’s death, this Consulting Agreement will immediately terminate and   no further fees will be owed.
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
Paragraph 9.5, will be amended in its entirety to   read as follows:
  
	
  
 
  	
  
 
  	
  
 
  
	
   
  	
  
 
  	
  
9.5          Entire   Agreement.  This Sixth Amendment   to the Consultancy Agreement, along with the Fifth, Fourth, Third, Second and   First Amendments to the Consultancy Agreement and the original Consultancy   Agreement that became effective February 1, 2000, constitute the entire   agreement between the parties relating to this subject matter and all prior   or contemporaneous oral or written agreements concerning such subject matter,   including relevant terms from the parties’ prior Amended and Restated   Employment Agreement and subsequent amendments.  The terms of the Sixth Amendment, and the surviving terms of   the prior amendments and the original Consultancy Agreement, will govern all   services undertaken by Contractor for Company beginning February 1, 2006 and   continuing until January 31, 2009, unless otherwise agreed in writing by the   parties.
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
B.
  	
  
No   Other Modifications.
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
Except as modified by this Sixth Amendment, the original   Consultancy Agreement that became effective February 1, 2000 and the First,   Second, Third, Fourth and Fifth Amendments thereto shall remain in force and   effect during the term of this Amendment.
  
	
   
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
IN WITNESS WHEREOF, the parties have executed this   Amendment, effective February 1, 2006.
  

	
  
 
  	
  
Company:
  	
  
 
  	
  
Contractor:
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
Ross Stores, Inc.
  	
  
 
  	
  
Norman A. Ferber
  
	
   
  	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
By:
  	
  
/s/ Michael Balmuth
  	
  
 
  	
  
By:
  	
  
/s/ Norman A Ferber
  
	
  
 
  	
  
 
  	
  

  	
  
 
  	
  
 
  	
  

  
	
  
 
  	
  
Name:
  	
  
  Michael   Balmuth
  	
  
 
  	
  
Title:
  	
  
Chairman of the Board
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
   
  	
  Title:
  	
  Vice Chairman, CEO, Pres
  	
   
  	
  Date:
  	
  2/14/06
  
	
   
  	
   
  	
   
  	
   
  	
   
  	
   
  
	
   
  	
  Date:
  	
  2/14/06
  	
   
  	
   
  	
   
  

2ASSET PURCHASE AGREEMENT AND SHARE EXCHANGE

 

 

by and among

 

ONLINE MARKETING GROUP, INC.

 

a Delaware Corporation

 

and

 

MATT ABRAMS AND SARA ABRAMS

 

individuals

 

 

 

 

 

 

 

 

 

 

effective as of October 31, 2005

 

 

 

 

 

ASSET PURCHASE AGREEMENT AND SHARE EXCHANGE

 

THIS ASSET PURCHASE AGREEMENT AND SHARE EXCHANGE, made and entered into this 31st day of October, 2005 by and among Online Marketing Group, Inc., a Delaware corporation with its principal place of business located at c/o MCF 600 California Street, 9th Floor, San Francisco, CA 94108 (“OMG”) and Matt Abrams and Sara Abrams individuals located at ________________ (“Sellers”).

 

Premises

 

A.         This Agreement provides for the acquisition of all of the assets as set forth on Schedule A attached hereto (“Assets”) by OMG and the issuance of a total of 20,000,000 restricted common shares of OMG to the Sellers. 

 

B.         The boards of directors of OMG and the Sellers have determined, subject to the terms and conditions set forth in this Agreement, that the transaction contemplated hereby is desirable and in the best interests of their stockholders, respectively. This Agreement is being entered into for the purpose of setting forth the terms and conditions of the proposed acquisition.

 

Agreement

 

NOW, THEREFORE, on the stated premises and for and in consideration of the mutual covenants and agreements hereinafter set forth and the mutual benefits to the parties to be derived here from, it is hereby agreed as follows:

 

ARTICLE I

REPRESENTATIONS, COVENANTS AND WARRANTIES OF 

ONLINE MARKETING GROUP, INC.

 

As an inducement to and to obtain the reliance of the Sellers, OMG represents and warrants as follows:

 

Section 1.1    Organization. OMG is a corporation duly organized, validly existing, and in good standing under the laws of Delaware and has the corporate power and is duly authorized, qualified, franchised and licensed under all applicable laws, regulations, ordinances and orders of public authorities to own all of its properties and assets and to carry on its business in all material respects as it is now being conducted, including qualification to do business as a foreign corporation in the jurisdiction in which the character and location of the assets owned by it or the nature of the business transacted by it requires qualification. Included in the Schedules attached hereto (hereinafter defined) are complete and correct copies of the articles of incorporation, bylaws and amendments thereto as in
effect on the date hereof. The execution and delivery of this Agreement does not and the consummation of the transactions contemplated by this Agreement in accordance with the terms hereof will not violate any provision of Holding’s articles of incorporation or bylaws. OMG has full power, authority and legal right and has taken all action required by law, its articles of incorporation, its bylaws or otherwise to authorize the execution and delivery of this Agreement.

 

 

 

Section 1.2    Capitalization. The authorized capitalization of OMG consists of 100,000,000 Common Shares, $0.001 par value per share, and 10,000,000 shares of Preferred Stock, $.001 par value. As of the date hereof, OMG has no common shares issued and outstanding. 

 

All issued and outstanding shares are legally issued, fully paid and nonassessable and are not issued in violation of the preemptive or other rights of any person. OMG has no securities, warrants or options authorized or issued.

 

Section 1.3     Litigation and Proceedings. There are no actions, suits, proceedings or investigations pending or threatened by or against or affecting OMG or its properties, at law or in equity, before any court or other governmental agency or instrumentality, domestic or foreign or before any arbitrator of any kind that would have a material adverse affect on the business, operations, financial condition or income of OMG. OMG is not in default with respect to any judgment, order, writ, injunction, decree, award, rule or regulation of any court, arbitrator or governmental agency or instrumentality or of any circumstances which, after reasonable investigation, would result in the discovery of such a default.

 

Section 1.4    Material Contract Defaults.             OMG is not in default in any material respect under the terms of any outstanding contract, agreement, lease or other commitment which is material to the business, operations, properties, assets or condition of OMG, and there is no event of default in any material respect under any such contract, agreement, lease or other commitment in respect of which OMG has not taken adequate steps to prevent such a default from occurring.

 

Section 1.5     Information. The information concerning OMG as set forth in this Agreement and in the attached Schedules is complete and accurate in all material respects and does not contain any untrue statement of a material fact or omit to state a material fact required to make the statements made in light of the circumstances under which they were made, not misleading. 

 

Section 1.6     Approval of Agreement.  The directors of OMG have authorized the execution and delivery of the Agreement by and have approved the transactions contemplated hereby.

 

Section 1.7     No Conflict With Other Instruments. The execution of this Agreement and the consummation of the transactions contemplated by this Agreement will not result in the breach of any term or provision of, or constitute an event of default under, any material indenture, mortgage, deed of trust or other material contract, agreement or instrument to which OMG is a party or to which any of its properties or operations are subject.

 

Section 1.8    Governmental Authorizations.     OMG has all licenses, franchises, permits or other governmental authorizations legally required to enable it to conduct its business in all material respects as conducted on the date hereof. Except for compliance with federal and state securities and corporation laws, as hereinafter provided, no authorization, approval, consent or order of, or registration, declaration or filing with, any court or other governmental body is required in connection with the execution and delivery by OMG of this Agreement and the consummation of the transactions contemplated hereby.

 

 

 

ARTICLE II

REPRESENTATIONS, COVENANTS AND WARRANTIES

OF THE SELLERS

 

As an inducement to, and to obtain the reliance of OMG, Sellers represents and warrants as follows:

 

Section 2.1    Assets. Sellers owns a 100% right, interest and title to the Assets and has the right transfer the Assets to OMG upon the terms of this Agreement. The Assets are free and clear of all liens, charges and encumbrances and interest in the Assets is protected in accordance with provisions of United States law.      

 

Section 2.2     Absence of Certain Changes or Events. Since the date of this Agreement, Sellers has not sold, transferred or caused to be placed a lien upon the Assets, and to the best knowledge of Sellers, no such transfer or lien has occurred.

 

Section 2.3    Title and Related Matters.   Sellers have good and marketable title to and is the sole and exclusive owner of all of its properties, inventory, interests in properties and assets, real and personal (collectively, the “Assets”) free and clear of all liens, pledges, charges or encumbrances. Except as set forth in the Schedules attached hereto, Sellers owns free and clear of any liens, claims, encumbrances, royalty interests or other restrictions or limitations of any nature whatsoever and all procedures, techniques, marketing plans, business plans, methods of management or other information utilized in connection with Sellers’ business. Except as set forth in the attached Schedules, no third party has any right to, and Sellers has not received any notice of
infringement of or conflict with asserted rights of others with respect to any product, technology, data, trade secrets, know-how, proprietary techniques, trademarks, service marks, trade names or copyrights which, singly or in the aggregate, if the subject of an unfavorable decision, ruling or finding, would have a materially adverse affect on the business, operations, financial conditions or income of Sellers or any material portion of its properties, assets or rights.

 

Section 2.4    Litigation and Proceedings.         There are no actions, suits or proceedings pending or threatened by or against or affecting Sellers, at law or in equity, before any court or other governmental agency or instrumentality, domestic or foreign or before any arbitrator of any kind that would have a material adverse effect on the business, operations, financial condition, income or business prospects of Sellers. Sellers does not have any knowledge of any default on its part with respect to any judgment, order, writ, injunction, decree, award, rule or regulation of any court, arbitrator or governmental agency or instrumentality.

 

Section 2.5    Contracts.     On the Closing Date, Sellers are not a party to any contract, agreement, commitment or instrument or subject to any charter or other corporate restriction or any judgment, order, writ, injunction, decree or award which materially and adversely affects, or in the future may (as far as Sellers can now foresee) materially and adversely affect the Assets. 

 

Section 2.6    No Conflict With Other Instruments.     The execution of this Agreement and the consummation of the transactions contemplated by this Agreement will not result in the breach of any term or provision of, or constitute an event of default under, any material indenture, mortgage, deed of trust or other material contract, agreement or instrument to which Sellers is a party or to which any of its properties or operations are subject.

 

 

 

Section 2.7    Material Contract Defaults.           To the best of Sellers’ knowledge and belief, it is not in default in any material respect under the terms of any outstanding contract, agreement, lease or other commitment which is material to the business, operations, properties, assets or condition of Sellers, and there is no event of default in any material respect under any such contract, agreement, lease or other commitment in respect of which Sellers has not taken adequate steps to prevent such a default from occurring.

 

Section 2.8    Governmental Authorizations. To the best of Sellers’ knowledge, Sellers has all licenses, franchises, permits and other governmental authorizations that are legally required to enable it to conduct its business operations in all material respects as conducted on the date hereof. Except for compliance with federal and state securities or corporation laws, no authorization, approval, consent or order of, or registration, declaration or filing with, any court or other governmental body is required in connection with the execution and delivery by Sellers of the transactions contemplated hereby.

 

Section 2.9    Compliance With Laws and Regulations.         To the best of Sellers’s knowledge and belief, Sellers has complied with all applicable statutes and regulations of any federal, state or other governmental entity or agency thereof, except to the extent that noncompliance would not materially and adversely affect the business, operations, properties, assets or condition of Sellers or would not result in Sellers ‘s incurring any material liability.

 

ARTICLE III

	
            EXCHANGE PROCEDURE AND OTHER CONSIDERATION
 

 

Section 3.1    Bill of Sale for Assets. On the Closing Date, Sellers shall deliver to OMG a bill of sale for the Assets and any and all other documents to transfer the Assets to OMG

 

Section 3.2     Issuance of OMG Common Shares. In exchange for the transfer of the Assets to OMG pursuant to Section 3.1, OMG shall issue to the Sellers a total of 20,000,000 shares in the following manner: 13,333,333 shares to Matt Abrams and 6,666,667 shares to Sara Abrams. Such shares are restricted in accordance with Rule 144 of the 1933 Securities Act. 

 

Section 3.3    Events Prior to Closing. Upon execution hereof or as soon thereafter as practical, management of OMG and Sellers shall execute, acknowledge and deliver (or shall cause to be executed, acknowledged and delivered) any and all certificates, opinions, financial statements, schedules, agreements, resolutions rulings or other instruments required by this Agreement to be so delivered, together with such other items as may be reasonably requested by the parties hereto and their respective legal counsel in order to effectuate or evidence the transactions contemplated hereby, subject only to the conditions to Closing referenced herein below.

 

Section 3.4    Closing. The closing (“Closing”) of the transactions contemplated by this Agreement shall be on or about October 31, 2005 (“Closing Date”).

 

	
            Section 3.5
 	
            Termination.
 

 

	
            (a)
 	
            This Agreement may be terminated by the board of directors of OMG or by the Sellers, respectively, at any time prior to the Closing Date if:
 

 

 

 

 

 

	
            (i)
 	
            there shall be any action or proceeding before any court or any governmental body which shall seek to restrain, prohibit or invalidate the transactions contemplated by this Agreement and which, in the judgment of such board of directors, made in good faith and based on the advice of its legal counsel, makes it inadvisable to proceed with the exchange contemplated by this Agreement; or 
 

 

	
            (ii)
 	
            any of the transactions contemplated hereby are disapproved by any regulatory authority whose approval is required to consummate such transactions.
 

 

In the event of termination pursuant to this paragraph (a) of this Section 3.5, no obligation, right, or liability shall arise hereunder and each party shall bear all of the expenses incurred by it in connection with the negotiation, drafting and execution of this Agreement and the transactions herein contemplated.

 

	
            (b)
 	
            This Agreement may be terminated at any time prior to the Closing Date by action of the board of directors of OMG if Sellers shall fail to comply in any material respect with any of its covenants or agreements contained in this Agreement or if any of the representations or warranties of Sellers contained herein shall be inaccurate in any material respect, which noncompliance or inaccuracy is not cured after 20 days written notice thereof is given to Sellers. If this Agreement is terminated pursuant to this paragraph (b) of this Section 3.5, this Agreement shall be of no further force or effect and no obligation, right or liability shall arise hereunder.
 

 

	
            (c)
 	
            This Agreement may be terminated at any time prior to the Closing Date by action of the Sellers if OMG shall fail to comply in any material respect with any of its covenants or agreements contained in this Agreement or if any of the representations or warranties of OMG contained herein shall be inaccurate in any material respect, which noncompliance or inaccuracy is not cured after 20 days written notice thereof is given to OMG. If this Agreement is terminated pursuant to this paragraph (d) of this Section 3.5, this Agreement shall be of no further force or effect and no obligation, right or liability shall arise hereunder.
 

 

In the event of termination pursuant to paragraph (b) and (c) of this Section 3.5, the breaching party shall bear all of the expenses incurred by the other party in connection with the negotiation, drafting and execution of this Agreement and the transactions herein contemplated.

 

Section 3.6     Directors of OMG After Closing. After the Closing Date, David Baker shall resign as the sole director of OMG and Matt Abrams shall be appointed to the Board of Directors and shall hold office until his successor shall have been duly elected and shall have qualified or until his earlier death, resignation or removal. 

 

Section 3.7     Officers of OMG. Upon the closing, the following persons shall be elected as officers of OMG in accordance with procedures set forth in the OMG bylaws:

 

	
            NAME
 	
            OFFICE
 

 

	
            Matt Abrams
 	
            Chief Executive Officer, Chief Financial Officer and Secretary
 

 

 

 

 

ARTICLE IV

SPECIAL COVENANTS

 

Section 4.1    Access to Properties and Records.   Prior to closing, OMG and Sellers will each afford to the officers and authorized representatives of the other full access to the properties, books and records of each other, in order that each may have full opportunity to make such reasonable investigation as it shall desire to make of the affairs of the other and each will furnish the other with such additional financial and operating data and other information as to the business and properties of each other, as the other shall from time to time reasonably request.

 

Section 4.2   Availability of Rule 144. OMG and Sellers shareholders holding “restricted securities,” as that term is defined in Rule 144 promulgated pursuant to the Securities Act will remain as “restricted securities”. OMG is under no obligation to register such shares under the Securities Act, or otherwise. The stockholders of OMG and Sellers holding restricted securities of OMG as of the date of this Agreement and their respective heirs, administrators, personal representatives, successors and assigns, are intended third party beneficiaries of the provisions set forth herein. The covenants set forth in this Section 4.2 shall survive the Closing and the consummation of the transactions herein contemplated.

 

Section 4.3    Special Covenants and Representations Regarding the OMG  Common Shares to be Issued in the Exchange. The consummation of this Agreement, including the issuance of the OMG Common Shares to the Interest Holders of Sellers as contemplated hereby, constitutes the offer and sale of securities under the Securities Act, and applicable state statutes. Such transaction shall be consummated in reliance on exemptions from the registration and prospectus delivery requirements of such statutes which depend, inter alia, upon the circumstances under which the Sellers Interest Holders acquire such securities. 

 

Section 4.4    Third Party Consents.   OMG and Sellers agree to cooperate with each other in order to obtain any required third party consents to this Agreement and the transactions herein contemplated.

 

	
            Section 4.5
 	
            Actions Prior and Subsequent to Closing.
 

 

	
            (a)
 	
            From and after the date of this Agreement until the Closing Date, except as permitted or contemplated by this Agreement, Sellers will use their best efforts to:
 

 

	
            (i)
 	
            maintain and keep their properties in states of good repair and condition as at present, except for depreciation due to ordinary wear and tear and damage due to casualty;
 
	
            (ii)
 	
            maintain in full force and effect insurance comparable in amount and in scope of coverage to that now maintained by them;
 
	
            (iii)
 	
            perform in all material respects all of their obligations under material contracts, leases and instruments relating to or affecting its assets, properties and business;
 

 

	
            (b)
 	
            From and after the date of this Agreement until the Closing Date, OMG will not, without the prior consent of Sellers:
 

 

 

 

 

	
            (i)
 	
            except as otherwise specifically set forth herein, make any change in its articles of incorporation or bylaws;
 
	
            (ii)
 	
            declare or pay any dividend on its outstanding Common Shares, except as may otherwise be required by law, or effect any stock split or otherwise change its capitalization, except as provided herein;
 
	
            (iii)
 	
            enter into or amend any employment, severance or agreements or arrangements with any directors or officers;
 
	
            (iv)
 	
            grant, confer or award any options, warrants, conversion rights or other rights not existing on the date hereof to acquire any Common Shares; or 
 

	
            (v)
 	
            purchase or redeem any Common Shares.
 

 

	
            Section 4.6
 	
            Indemnification.
 

 

	
            (a)
 	
            OMG hereby agrees to indemnify Sellers as of the Closing Date against any loss, liability, claim, damage or expense (including, but not limited to, any and all expense whatsoever reasonably incurred in investigating, preparing or defending against any litigation, commenced or threatened or any claim whatsoever), to which it or they may become subject to or rising out of or based on any inaccuracy appearing in or misrepresentation made in this Agreement. The indemnification provided for in this paragraph shall survive the Closing and consummation of the transactions contemplated hereby and termination of this Agreement; and 
 

 

	
            (b)
 	
            Sellers hereby agrees to indemnify OMG, each of the officers, agents, directors and current shareholders of OMG as of the Closing Date against any loss, liability, claim, damage or expense (including, but not limited to, any and all expense whatsoever reasonably incurred in investigating, preparing or defending against any litigation, commenced or threatened or any claim whatsoever), to which it or they may become subject arising out of or based on any inaccuracy appearing in or misrepresentation made in this Agreement. The indemnification provided for in this paragraph shall survive the Closing and consummation of the transactions contemplated hereby and termination of this Agreement.
 

 

ARTICLE V

	
            CONDITIONS PRECEDENT TO OBLIGATIONS OF ONLINE MARKETING GROUP, INC.
 

 

The obligations of OMG under this Agreement are subject to the satisfaction, at or before the Closing Date, of the following conditions:

 

Section 5.1    Accuracy of Representations. The representations and warranties made by Sellers in this Agreement were true when made and shall be true at the Closing Date with the same force and effect as if such representations and warranties were made at the Closing Date (except for changes therein permitted by this Agreement), and Sellers shall have performed or compiled with all covenants and conditions required by this Agreement to be performed or complied with by OMG prior to or at the Closing. 

 

Section 5.2    Director Approval.   The Board of Directors of OMG shall have approved this Agreement and the transactions contemplated herein.

 

 

 

 

Section 5.3    No Material Adverse Change.       Prior to the Closing Date, there shall not have occurred any material adverse change in the financial condition, business or operations of nor shall any event have occurred which, with the lapse of time or the giving of notice, may cause or create any material adverse change in the financial condition, business or operations of Sellers.

 

Section 5.4    Other Items.                 OMG shall have received such further documents, certificates or instruments relating to the transactions contemplated hereby as OMG may reasonably request.

 

ARTICLE VI

	
            CONDITIONS PRECEDENT TO OBLIGATIONS OF SELLERS
 

 

The obligations of Sellers under this Agreement are subject to the satisfaction, at or before the Closing date (unless otherwise indicated herein), of the following conditions:

 

Section 6.1    Accuracy of Representations.      The representations and warranties made by OMG in this Agreement were true when made and shall be true as of the Closing Date (except for changes therein permitted by this Agreement) with the same force and effect as if such representations and warranties were made at and as of the Closing Date, and OMG shall have performed and complied with all covenants and conditions required by this Agreement to be performed or complied with by OMG prior to or at the Closing. Sellers shall have been furnished with a certificate, signed by a duly authorized executive officer of OMG and dated the Closing Date, to the foregoing effect.

 

Section 6.2    Officer’s Certificate.                    Sellers shall be furnished with a certificate dated the Closing date and signed by a duly authorized officer of OMG to the effect that:  (a)  the representations and warranties of OMG set forth in the Agreement and in all Exhibits, Schedules and other documents furnished in connection herewith are in all material respects true and correct as if made on the Effective Date; and (b)  OMG had performed all covenants, satisfied all conditions, and complied with all other terms and provisions of the Agreement to be performed, satisfied or complied with by it as of the Effective Date.

 

Section 6.3    No Material Adverse Change. Prior to the Closing Date, there shall not have occurred any material adverse change in the financial condition, business or operations of nor shall any event have occurred which, with the lapse of time or the giving of notice, may cause or create any material adverse change in the financial condition, business or operations of OMG.

 

ARTICLE VII

MISCELLANEOUS

 

Section 7.1   Brokers and Finders.  Each party hereto hereby represents and warrants that it is under no obligation, express or implied, to pay certain finders in connection with the bringing of the parties together in the negotiation, execution, or consummation of this Agreement. The parties each agree to indemnify the other against any claim by any third person for any commission, brokerage or finder’s fee or other payment with respect to this Agreement or the transactions contemplated hereby based on any alleged agreement or understanding between the indemnifying party and such third person, whether express or implied from the actions of the indemnifying party.

 

 

 

 

Section 7.2    Law,  Forum and Jurisdiction.      This Agreement shall be construed and interpreted in accordance with the laws of the State of California, United States of America.

 

Section 7.3    Notices.         Any notices or other communications required or permitted hereunder shall be sufficiently given if personally delivered to it or sent by registered mail or certified mail, postage prepaid, or by prepaid telegram addressed as follows:

 

 

	
            If to OMG:
 

 

	
            If to Sellers:
 

 

or such other addresses as shall be furnished in writing by any party in the manner for giving notices hereunder, and any such notice or communication shall be deemed to have been given as of  the date so delivered, mailed or telegraphed.

 

Section 7.4    Attorneys’ Fees.     In the event that any party institutes any action or suit to enforce this Agreement or to secure relief from any default hereunder or breach hereof, the breaching party or parties shall reimburse the non-breaching party or parties for all costs, including reasonable attorneys’ fees, incurred in connection therewith and in enforcing or collecting any judgment rendered therein.

 

Section 7.5    Confidentiality.         Each party hereto agrees with the other party that, unless and until the transactions contemplated by this Agreement have been consummated, they and their representatives will hold in strict confidence all data and information obtained with respect to another party or any subsidiary thereof from any representative, officer, director or employee, or from any books or records or from personal inspection, of such other party, and shall not use such data or information or disclose the same to others, except:  (i)  to the extent such data is a matter of public knowledge or is required by law to be published; and (ii)  to the extent that such data or information must be used or disclosed in order to consummate the
transactions contemplated by this Agreement.

 

Section 7.6    Schedules; Knowledge.     Each party is presumed to have full knowledge of all information set forth in the other party’s schedules delivered pursuant to this Agreement.

 

Section 7.7    Third Party Beneficiaries.  This contract is solely between OMG and Sellers and except as specifically provided, no director, officer, stockholder, employee, agent, independent contractor or any other person or entity shall be deemed to be a third party beneficiary of this Agreement.

 

Section 7.8    Entire Agreement.  This Agreement represents the entire agreement between the parties relating to the subject matter hereof. This Agreement alone fully and completely expresses the agreement of the parties relating to the subject matter hereof. There are no other courses of dealing, understanding, agreements, representations or warranties, written or oral, except as set forth herein. This Agreement may not be amended or modified, except by a written agreement signed by all parties hereto.

 

Section 7.9    Survival; Termination.        The representations, warranties and covenants of the respective parties shall survive the Closing Date and the consummation of the transactions herein contemplated for 18 months.

 

 

 

Section 7.10  Counterparts.          This Agreement may be executed in multiple counterparts, each of which shall be deemed an original and all of which taken together shall be but a single instrument.

 

Section 7.11   Amendment or Waiver.     Every right and remedy provided herein shall be cumulative with every other right and remedy, whether conferred herein, at law, or in equity, and may be enforced concurrently herewith, and no waiver by any party of the performance of any obligation by the other shall be construed as a waiver of the same or any other default then, theretofore, or thereafter occurring or existing. At any time prior to the Closing Date, this Agreement may be amended by a writing signed by all parties hereto, with respect to any of the terms contained herein, and any term or condition of this Agreement may be waived or the time for performance hereof may be extended by a writing signed by the party or parties for whose benefit the provision is intended.

 

Section 7.12  Expenses.     Each party herein shall bear all of their respective cost s and expenses incurred in connection with the negotiation of this Agreement and in the consummation of the transactions provided for herein and the preparation thereof.

 

Section 7.13  Headings; Context.  The headings of the sections and paragraphs contained in this Agreement are for convenience of reference only and do not form a part hereof and in no way modify, interpret or construe the meaning of this Agreement.

 

Section 7.14  Benefit.          This Agreement shall be binding upon and shall inure only to the benefit of the parties hereto, and their permitted assigns hereunder. This Agreement shall not be assigned by any party without the prior written consent of the other party. 

 

Section 7.15  Public Announcements.    Except as may be required by law, neither party shall make any public announcement or filing with respect to the transactions provided for herein without the prior consent of the other party hereto.

 

Section 7.16  Severability.  In the event that any particular provision or provisions of this Agreement or the other agreements contained herein shall for any reason hereafter be determined to be unenforceable, or in violation of any law, governmental order or regulation, such unenforceability or violation shall not affect the remaining provisions of such agreements, which shall continue in full force and effect and be binding upon the respective parties hereto.

 

Section 7.17  Failure of Conditions; Termination.         In the event of any of the conditions specified in this Agreement shall not be fulfilled on or before the Closing Date, either of the parties have the right either to proceed or, upon prompt written notice to the other, to terminate and rescind this Agreement. In such event, the party that has failed to fulfill the conditions specified in this Agreement will liable for the other parties legal fees. The election to proceed shall not affect the right of such electing party reasonably to require the other party to continue to use its efforts to fulfill the unmet conditions.

 

Section 7.18  No Strict Construction.       The language of this Agreement shall be construed as a whole, according to its fair meaning and intendment, and not strictly for or against either party hereto, regardless of who drafted or was principally responsible for drafting the Agreement or terms or conditions hereof.

 

 

 

Section 7.19  Execution Knowing and Voluntary.         In executing this Agreement, the parties severally acknowledge and represent that each:  (a) has fully and carefully read and considered this Agreement;  (b) has been or has had the opportunity to be fully apprized by its attorneys of the legal effect and meaning of this document and all terms and conditions hereof;  (c) is executing this Agreement voluntarily, free from any influence, coercion or duress of any kind.

 

Section 7.20   Amendment. At any time after the Closing Date, this Agreement may be amended by a writing signed by both parties, with respect to any of the terms contained herein, and any term or condition of this Agreement may be waived or the time for performance hereof may be extended by a writing signed by the party or parties for whose benefit the provision is intended.

 

Section 7.21  Conflict of Interest. Both Sellers and OMG understand that Anslow & Jaclin, LLP is representing both parties in this transaction which represents a conflict of interest. Both Sellers and OMG have the right to different counsel due to this conflict of interest. Notwithstanding the above, both Sellers and OMG agree to waive this conflict and have Anslow & Jaclin, LLP represent both parties in the above-referenced transaction. Both Sellers and OMG agree to hold this law firm harmless from any and all liabilities that may occur or arise due to this conflict.

 

IN WITNESS WHEREOF, the corporate parties hereto have caused this Agreement to be executed by their respective officers, hereunto duly authorized, and entered into as of the date first above written.

 

 

	
            ATTEST:
 	
            ONLINE MARKETING GROUP, INC.
 

 

 

	
            ______________________________
 	
            By:   _______________________ 
 

David Baker

 

	
            WITNESS:
 

 

	
            ______________________________
 	
            By:   _______________________ 
 

Matt Abrams

 

	
            ______________________________
 	
            By:   _______________________ 
 

Sara Abrams

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