Document:

exhibit_10-25.htm

Exhibit 10.25

REGULATION S STOCK PURCHASE AGREEMENT

This Regulation S Stock Purchase Agreement (“Agreement”), is dated as of July 29, 2012 between Andain, Inc., a Nevada corporation having offices at 400 South Beverly Drive, Suite 312 Beverly Hills, California 90212 (“Company”), and Gai Mar-Chaim resident in 10 Hazayit St., Asseret 76858, Israel  (“Purchaser”).

ARTICLE  I

PURCHASE, SALE AND TERMS OF SHARES

1.3           The Shares. The Company agrees to issue and sell to the Purchaser in an offshore transaction negotiated outside the U.S. and to be consummated and closed outside the U.S. and, in consideration of and in express reliance upon the representations, warranties, covenants, terms and conditions of this Agreement, the Purchaser agrees to purchase from the Company Four Million (18,000,000) shares (“Shares”) of the Company’s common stock (“Common Stock”) at a per share purchase price which shall be One Tenth of a US Cent ($0.001) per share (“Purchase Price”).  The Purchaser understands and agrees that the Company in its sole discretion reserves the right to accept or reject this subscription for the Shares, in whole or in part, prior to receipt by the Company of the Purchase Price, or any applicable portion thereof, as set forth in Article II hereafter.

 

1.4           Payment of Purchase Price; Closing.  The transaction will be closed in Tel-Aviv Israel and the Purchaser will pay the purchase price by wire transfer within Three (3) business days of both Parties executing this Agreement. The Company will within in Three (3) business days upon receipt of the funds, cause  the Share certificate(s) to be delivered to the Purchaser, at 10 Hazayit St., Asseret 76858, Israel

 

  

  

  

 

ARTICLE II

REPRESENTATIONS AND WARRANTIES OF THE PURCHASER

2.2.          Representations by the Purchaser.  The Purchaser makes the following representations and warranties to the Company:

	
  

	
(g)

	
Access to Information.  The Purchaser, in making the decision to purchase the Shares, has relied solely upon independent investigations made by it and/or its representatives, if any.  The Purchaser and/or its representatives during the course of this transaction, and prior to the purchase of any Shares, has had the opportunity to ask questions of and receive answers from the management of the Company concerning the terms and conditions of the offering of the Shares and to receive any additional information, documents, records and books relative to its business, assets, financial condition, results of operations and liabilities (contingent or otherwise) of the Company.

	
  

	
(h)

	
Sophistication and Knowledge. The Purchaser and/or its representatives has such knowledge and experience in financial and business matters that it can represent itself and is capable of evaluating the merits and risks of the purchase of the Shares.  The Purchaser is not relying on the Company with respect to the tax and other economic considerations of an investment in the Shares, and the Purchaser has relied on the advice of, or has consulted with, only the Purchaser's own advisor(s).

	
  

	
(i)

	
Lack of Liquidity.  The Purchaser acknowledges that the purchase of the Shares involves a high degree of risk and further acknowledges that it can bear the economic risk of the purchase of the Shares, including the total loss of its investment.  The Purchaser has no present need for liquidity in connection with its purchase of the Shares.

	
  

	
(j)

	
No Public Solicitation.  The Purchaser is not subscribing for the Shares as a result of or subsequent to any advertisement, article, notice or other communication published in any newspaper, magazine or similar media or broadcast over television or radio, or presented at any seminar or meeting, or any solicitation of a subscription by a person not previously known to the Purchaser in connection with investments in securities generally.  Neither the Company nor the Purchaser has engaged in any ‘Directed Selling Efforts in the U.S.’ as defined in Regulation S promulgated by the SEC under U.S. securities laws.

	
  

	
(k)

	
Authority.  The Purchaser has full right and power to enter into and perform pursuant to this Agreement and make an investment in the Company, and this Agreement constitutes the Purchaser’s valid and legally binding obligation, enforceable in accordance with its terms. The Purchaser is authorized and otherwise duly qualified to purchase and hold the Shares and to enter into this Agreement

 

  

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(l)

	
Regulation S Exemption.  The Purchaser understands that the Shares are being offered and sold to it in reliance on an exemption from the registration requirements of United States federal and state securities laws under Regulation S promulgated under the Securities Act of 1933, as amended (“Securities Act”) and that the Company is relying upon the truth and accuracy of the representations, warranties, agreements, acknowledgments and understandings of the Purchaser set forth herein in order to determine the applicability of such exemptions and the suitability of the Purchaser to acquire the Shares.  In this regard, the Purchaser represents, warrants and agrees that:

	
  

	
(xi)

	
The Purchaser is not a U.S. Person (as defined below).  A U.S. Person means any one of the following:

	
  

	
(a)

	
any U.S. Citizen

	
  

	
(b)

	
any natural person resident in the United States of America;

	
  

	
(c)

	
any partnership or corporation organized or incorporated under the laws of the United States of America;

	
  

	
(d)

	
any estate of which any executor or administrator is a U.S. person;

	
  

	
(e)

	
any trust of which any trustee is a U.S. person;

	
  

	
(f)

	
any agency or branch of a foreign entity located in the United States of America;

	
  

	
(g)

	
any non-discretionary account or similar account (other than an estate or trust) held by a dealer or other fiduciary for the benefit or account of a U.S. Person;

	
  

	
(h)

	
any discretionary account or similar account (other than an estate or trust) held by a dealer or other fiduciary organized, incorporated or (if an individual) resident in the United States of America; and

	
  

	
(i)

	
any partnership or corporation if:

	
  

	
(1)

	
organized or incorporated under the laws of any foreign jurisdiction; and

	
  

	
(2)

	
formed by a U.S. Person principally for the purpose of investing in securities not registered under the Securities Act, unless it is organized or incorporated, and owned, by accredited investors (as defined in Rule 501(a) under the Securities Act) who are not natural persons, estates or trusts.

 

  

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(xii)

	
At the time of the origination of contact concerning this Agreement and the date of the execution and delivery of this Agreement, the Purchaser was outside of the United States.

	
  

	
(xiii)

	
The Purchaser will not, during the period commencing on the date of issuance of the Shares and ending on the first anniversary of such date, or such shorter period as may be permitted by Regulation S or other applicable securities law (“Restricted Period”), offer, sell, pledge or otherwise transfer the Shares in the United States, or to a U.S. Person for the account or benefit of a U.S. Person, or otherwise in a manner that is not in compliance with Regulation S.

	
  

	
(xiv)

	
The Purchaser will, after expiration of the Restricted Period, offer, sell, pledge or otherwise transfer the Shares only pursuant to registration under the Securities Act or an available exemption therefrom and, in accordance with all applicable state and foreign securities laws.

	
  

	
(xv)

	
The Purchaser has not in the United States, engaged in, and prior to the expiration of the Restricted Period will not engage in, any short selling of or any hedging transaction with respect to the Shares, including without limitation, any put, call or other option transaction, option writing or equity swap.

	
  

	
(xvi)

	
Neither the Purchaser nor or any person acting on its behalf has engaged, nor will engage, in any directed selling efforts to U.S. Citizens with respect to the Shares and the Purchaser and any person acting on its behalf have complied and will comply with the “offering restrictions” requirements of Regulation S under the Securities Act.

	
  

	
(xvii)

	
The transactions contemplated by this Agreement have not been pre-arranged with a buyer located in the United States or with a U.S. Person, and are not part of a plan or scheme to evade the registration requirements of the Securities Act.

	
  

	
(xviii)

	
Neither the Purchaser nor any person acting on its behalf has undertaken or carried out any activity for the purpose of, or that could reasonably be expected to have the effect of, conditioning the market in the United States, its territories or possessions, for any of the Shares.  The Purchaser agrees not to cause any advertisement of the Shares to be published in any newspaper or periodical or posted in any public place and not to issue any circular relating to the Shares, except such advertisements that include the statements required by Regulation S under the Securities Act, and only offshore and not in the U.S. or its territories, and only incompliance with any local applicable securities laws.

 

  

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(xix)

	
Each certificate representing the Shares shall be endorsed with the following legends:

“THE SHARES ARE BEING OFFERED TO INVESTORS WHO ARE NOT U.S. PERSONS (AS DEFINED IN REGULATION S UNDER THE SECURITIES ACT OF 1933, AS AMENDED (“THE SECURITIES ACT”)) AND WITHOUT REGISTRATION WITH THE UNITED STATES SECURITIES AND EXCHANGE COMMISSION UNDER THE SECURITIES ACT IN RELIANCE UPON REGULATION S PROMULGATED UNDER THE SECURITIES ACT.”

“TRANSFER OF THESE SHARES IS PROHIBITED, EXCEPT IN ACCORDANCE WITH THE PROVISIONS OF REGULATION S, PURSUANT TO REGISTRATION UNDER THE SECURITIES ACT, OR PURSUANT TO AVAILABLE EXEMPTION FROM REGISTRATION. HEDGING TRANSACTIONS MAY NOT BE CONDUCTED UNLESS IN COMPLIANCE WITH THE SECURITIES ACT.”

Any other legend required to be placed thereon by applicable federal or state securities laws.

	
  

	
(xx)

	
The Purchaser consents to the Company making a notation on its records or giving instructions to any transfer agent of the Company in order to implement the restrictions on transfer of the Shares set forth in this Section 1.4.

ARTICLE III

REPRESENTATIONS AND WARRANTIES OF THE COMPANY

The Company represents and warrants as follows:

3.1   Organization and Standing of the Company.  The Company is a duly organized and validly existing corporation in good standing under the laws of the State of Nevada and has all requisite corporate power and authority for the ownership and operation of its properties and for the carrying on of its business as now conducted and as now proposed to be conducted and to execute and deliver this Agreement and other instruments, agreements and documents contemplated herein (together with this Agreement, the “Transaction Documents”), to issue, sell and deliver the Shares and to perform its other obligations pursuant hereto.  The Company is duly licensed or qualified and in good standing as a foreign corporation authorized to do business in all jurisdictions wherein the character of the property owned or leased or the nature of the activities conducted by it makes such licensing or qualification necessary, except where the failure to be so licensed or qualified would not have a material adverse effect on the business, operations or financial condition of the Company.

 

  

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3.2           Corporate Action.  The Transaction Documents have been duly authorized, executed and delivered by the Company and constitute the legal, valid and binding obligations of the Company, enforceable against the Company in accordance with their respective terms.  The Shares have been duly authorized.  The issuance, sale and delivery of the Shares have been duly authorized by all required corporate action on the part of the Company.  The Shares, when issued and paid for in accordance with the Transaction Documents, will be validly issued, fully paid and nonassessable, with no personal liability attaching to the ownership thereof and will be free and clear of all liens, charges, restrictions, claims and encumbrances imposed by or through the Company, except as expressly set forth in the Transaction Documents.

3.3           Governmental Approvals.  No authorization, consent, approval, license, exemption of or filing or registration with any court or governmental department, commission, board, bureau, agency or instrumentality, domestic or foreign, is or will be necessary for, or in connection with, the execution and delivery by the Company of this Agreement, for the offer, issue, sale, execution or delivery of the Shares, or for the performance by the Company of its obligations under the Transaction Documents except for any filings required by applicable securities laws.

3.4           Litigation. Except as set forth on Schedule 2.4 and Section 3.11, there is no litigation or governmental proceeding or investigation pending or, to the knowledge of the Company, threatened against the Company affecting any of its properties or assets, nor, to the best knowledge of the Company, has there occurred any event or does there exist any condition on the basis of which any litigation, proceeding or investigation might properly be instituted.  The Company is not in default with respect to any order, writ, injunction, decree, ruling or decision of any court, commission, board or other government agency, which such default might have a material adverse effect on the business, assets, liabilities, operations, Intellectual Property Rights, (as defined hereinafter) management or financial condition of the Company.  There are no actions or proceedings pending or, to the Company’s knowledge, threatened (or any basis therefor known to the Company) against the Company which might result, either in any case or in the aggregate, in any material adverse change in the business, operations, Intellectual Property Rights, affairs or financial condition of the Company or in any of its properties or assets, or which might call into question the validity of any of the Transaction Documents, any of the Shares, or any action taken or to be taken pursuant hereto or thereto.

3.5           Compliance with Other Instruments.  The Company is in compliance in all respects with its Certificate of Incorporation and Bylaws, each as amended and/or restated to date, and in all respects with the material terms and provisions of all mortgages, indentures, leases, agreements and other instruments by which it is bound or to which it or any of its properties or assets are subject.  The Company is in compliance in all material respects with all judgments, decrees, governmental orders, laws, statutes, rules or regulations by which it is bound or to which it or any of its properties or assets are subject.  Neither the execution and delivery of the Transaction Documents nor the issuance of the Shares, nor the consummation or performance of any transaction contemplated hereby or thereby, has constituted or resulted in or will constitute or result in a default or violation of, create a conflict with, trigger any “change of control” or other right of any person under, or require any consent, waiver, release or approval under or with respect to, any term or provision of any of the foregoing documents, instruments, judgments, agreements, decrees, orders, statutes, rules and regulations.

 

  

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3.6           Title to Assets; Intellectual Property Rights.

(a)           The Company has good and marketable title in fee to such of its fixed assets as are real property, and good and merchantable title to all of its other assets, now carried on its books, free of any mortgages, pledges, charges, liens, security interests or other encumbrances.  The Company enjoys peaceful and undisturbed possession under all leases under which it is operating, and all said leases are valid and subsisting and in full force and effect.

(b)           The Company owns or has a valid right to use patents, patent applications, patent right, trade secrets, confidential business information, formula, processes, laboratory notebooks, algorithms, copyrights, mask works, claims of infringement against third parties, licenses, permits, license rights, contract rights with employees, consultants and third parties, trademarks, trademark rights, inventions and discoveries, and all other intellectual property, including, without limitation, all other such rights generally classified as intangible, intellectual property assets in accordance with GAAP (collectively the, “Intellectual Property Rights”) being used to conduct its business as now operated and as now proposed by the Company to be operated and to the best of the Company’s knowledge, the conduct of its business as now operated and as now proposed to be operated does not and will not conflict with or infringe upon the Intellectual Property Rights of others.  To the best of the Company’s knowledge, no claim is pending or threatened against the Company and/or its officers, employees and consultants to the effect that any such Intellectual Property Right owned or licensed by the Company, or which the Company otherwise has the right to use, is invalid or unenforceable by the Company.

(c)           The Company has taken all reasonable measures to protect and preserve the security, confidentiality and value of its Intellectual Property Rights, including its trade secrets and other confidential information.  The Company is and will be the exclusive owner of all right, title and interest in its Intellectual Property Rights as purported to be owned by the Company, and such Intellectual Property Rights are valid and in full force and effect.  The Company has not received notice of and, to the best of the Company’s knowledge there are no claims that the Company’s Intellectual Property Rights or the use or ownership thereof by the Company infringes, violates or conflicts with any such right of any third party.

3.7           Taxes.  Except as set forth on Schedule 2.7, the Company has accurately prepared and timely filed all federal, state and other tax returns required by law to be filed by it, has paid or made provision for the payment of all taxes shown to be due and all additional assessments, and adequate provisions have been made and are reflected in the Company’s financial statements for all current taxes and other charges to which the Company is subject and which are not currently due and payable.

3.8           Disclosure.  There is no fact within the knowledge of the Company or any of its executive officers which has not been disclosed herein or in writing by them to the Purchaser and which materially adversely affects, or in the future in their opinion may, insofar as they can now foresee, materially adversely affect the business, operations, properties, Intellectual Property Rights, assets or condition, financial or other, of the Company.  Without limiting the foregoing, the Company has no knowledge that there exists, or there is pending or planned, any patent, invention, device, application or principle or any statute, rule, law, regulation, standard or code which would materially adversely affect the business, operations, Intellectual Property Rights, affairs or financial condition of the Company.

 

  

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3.9           Brokers or Finders.  No person has or will have, as a result of the transactions contemplated by this Agreement, any right, interest or valid claim against or upon the Purchaser for any commission, fee or other compensation as a finder or broker because of any act or omission by the Company or its respective agents.

3.10         Capitalization; Status of Capital Stock.  As of the date hereof, the Company had a total authorized capitalization consisting of five hundred million (500,000,000) shares of Common Stock, $0.001 par value, and ten million (10,000,000) shares of preferred stock, $0.001 par value.  As of November 21, 2010, 9,980,000 shares of Common Stock were issued and outstanding, and no shares of preferred stock were outstanding.  As of that date, the Company also had an option outstanding that converts into one million shares of Common Stock, exercisable equal to the public offering price of the Common Stock in a future Form S-1 registration statement.  All the outstanding shares of capital stock of the Company have been duly authorized, and are validly issued, fully paid and non-assessable.  None of the Company’s outstanding securities or authorized capital stock is subject to any rights of redemption, repurchase, rights of first refusal, preemptive rights or other similar rights, whether contractual, statutory or otherwise, for the benefit of the Company, any stockholder, or any other person.  There are no restrictions on the transfer of shares of capital stock of the Company other than those imposed by relevant federal and state securities laws and as otherwise contemplated by this Agreement.  There are no agreements, understandings, trusts or other collaborative arrangements or understandings concerning the voting or transfer of the capital stock of the Company to which the Company is a party.   The Company does not have outstanding, and has no obligation to grant or issue, any “phantom stock” or other right measured by the profits, revenues or results of operations of the Company or any portion thereof; or any similar rights.

3.11         SEC Reports.  The Company has furnished the Purchaser with true and complete copies of its current annual and quarterly reports (“Current Reports”).  As of their respective filing dates, the Current Reports and all other filings made by the Company under the Securities Exchange Act of 1934, as amended (“1934 Act”) (collectively, “SEC Reports”), complied with the requirements of the Act or the 1934 Act, as the case may be, and none of such filings contained any untrue statement of a material fact or omitted to state any material fact required to be stated therein or necessary to make the statements therein, in light of the circumstances under which they were made, not misleading.

3.12         Books and Records.  The books of account, ledgers, order books, records and documents of the Company accurately and completely reflect all material information relating to the business of the Company, the location and collection of its assets, and the nature of all transactions giving rise to the obligations or accounts receivable of the Company.

 

  

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3.13     Refusal of Registration.  The parties hereby acknowledge and agree that the Company shall be required, as a term of this contract, to refuse to register any transfer of the Shares not made in accordance with the provisions of Regulation S, or pursuant to Registration, or another exemption from registration, under the Securities Act.

ARTICLE IV

MISCELLANEOUS

4.1           No Waiver; Cumulative Remedies.  No failure or delay on the part of any party to this Agreement in exercising any right, power or remedy hereunder shall operate as a waiver thereof; nor shall any single or partial exercise of any such right, power or remedy preclude any other or further exercise thereof or the exercise of any other right, power or remedy hereunder.  The remedies herein provided are cumulative and not exclusive of any remedies provided by law.

4.2           Amendments; Waivers and Consents.  Any provision in the Agreement to the contrary notwithstanding, and except as hereinafter provided, changes in, termination or amendments of or additions to this Agreement may be made, and compliance with any covenant or provision set forth herein may be omitted or waived, if either Party shall obtain consent thereto in writing from the other Party.  Any waiver or consent may be given subject to satisfaction of conditions stated therein and any waiver or consent shall be effective only in the specific instance and for the specific purpose for which given.

4.3           Addresses for Notices.  Any notice or other communication required or permitted to be given hereunder shall be in writing and shall be mailed by certified mail, return receipt requested, or delivered against receipt to Company and/or to Purchaser at the addresses for each set forth above.  Any notice or other communication given by certified mail shall be deemed given at the time of certification thereof, except for a notice changing a party’s address which shall be deemed given at the time of receipt thereof.

4.4           Costs; Expenses and Taxes.   Upon execution of this Agreement and with each delivery of the Purchase Price as set forth in 1.3, the Company shall pay no monies in the aggregate, to cover fees and disbursements of counsel to the Purchaser incurred in connection with the negotiation, drafting and completion of the Transaction Documents and all related matters. The Company shall pay any and all stamp, or other similar taxes payable or determined to be payable in connection with the execution and delivery of this Agreement, the issuance of any securities and the other instruments and documents to be delivered hereunder or thereunder, and agrees to save the Purchaser harmless from and against any and all liabilities with respect to or resulting from any delay in paying or omission to pay such taxes.

4.5           Effectiveness; Binding Effect; Assignment.  This Agreement shall be binding upon and inure to the benefit of the Company, the Purchaser and the respective successors and assigns.

 

  

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4.6           Survival of Representations and Warranties.  All representations and warranties made in the Transaction Documents, the Shares, or any other instrument or document delivered in connection herewith or therewith, shall survive the execution and delivery hereof or thereof.

4.7           Prior Agreements.  The Transaction Documents executed and delivered in connection herewith constitute the entire agreement between the parties with respect to the subject matter set forth herein and supersede any prior understandings or agreements concerning the subject matter hereof.

4.8           Severability.  The provisions of the Transaction Documents are severable and, in the event that any court of competent jurisdiction shall determine that any one or more of the provisions or part of a provision contained therein shall, for any reason, be held to be invalid, illegal or unenforceable in any respect, such invalidity, illegality or unenforceability shall not affect any other provision or part of a provision of such Transaction Document and the terms of the Shares shall be reformed and construed as if such invalid or illegal or unenforceable provision, or part of a provision, had never been contained herein, and such provisions or part reformed so that it would be valid, legal and enforceable to the maximum extent possible.

4.9           Governing Law; Venue.

(a)           This Agreement shall be enforced, governed and construed in accordance with the laws of the State of Nevada without giving effect to choice of laws principles or conflict of laws provisions. Any suit, action or proceeding pertaining to this Agreement or any transaction relating hereto shall be brought to the courts of the State of Nevada located in Las Vegas and the undersigned hereby irrevocably consents and submits to the jurisdiction of such courts for the purpose of any such suit, action, or proceeding.  Purchaser acknowledges and agrees that venue hereunder shall lie exclusively in Las Vegas, Nevada.

(b)           Purchaser hereby waives, and agrees not to assert against the Company, or any successor assignee thereof, by way of motion, as a defense, or otherwise, in any such suit, action or proceeding, (i) any claim that the Purchaser is not personally subject to the jurisdiction of the above-named courts, and (ii) to the extent permitted by applicable law, any claim that such suit, action or proceeding is brought in an inconvenient forum or that the venue of any such suit, action or proceeding is improper or that this Agreement may not be enforced in or by such courts.

4.10         Headings.  Article, section and subsection headings in this Agreement are included herein for convenience of reference only and shall not constitute a part of this Agreement for any other purpose.

4.11         Counterparts.  This Agreement may be executed in any number of counterparts, all of who taken together shall constitute one and the same instrument, and any of the parties hereto may execute this Agreement by signing any such counterpart.

4.12         Further Assurances.  From and after the date of this Agreement, upon the request of the Purchaser or the Company, the Company and the Purchaser shall execute and deliver such instruments, documents and other writings as may be reasonably necessary or desirable to confirm and carry out and to effectuate fully the intent and purposes of the Transaction Documents and the Shares.

 

  

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IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the date first above written.

	  	
Andain, Inc.

	  	  
	  	
By: /s/  Sam Shlomo Elimelech

	  	
Name: Sam Shlomo Elimelech, President

	  	  
	  	
Purchaser:

	  	  
	  	
By: /s/  Gai Mar-Chaim

	  	
Name: Gai Mar-Chaim

11ex10-1.htm

Exhibit 10.01

 

SETTLEMENT AGREEMENT AND RELEASE

           This Settlement Agreement and Release (the “Agreement”) is made effective as of the last date written below (the “Closing Date”), by Alexis Ann Jacobs (“Jacobs”), Keith E. Whann (“Whann”), CAA Liquidation, LLC (fka Chattanooga Auto Auction Limited Liability Company) (“CAA”), Auction Venture Limited Liability Company (“Auction Venture”), David Bynum (“Bynum”), Tony Moorby (“Moorby”), Acacia Automotive, Inc. (“AA”), Acacia Chattanooga Vehicle Auction, Inc. (“AC”), and Steven L. Sample (“Sample”) (hereinafter each referred to individually as a “Party” and collectively as the “Parties”).

RECITALS

           WHEREAS, CAA and AA entered into an Asset Purchase Agreement dated August 31, 2009 (the “Asset Purchase Agreement”) with respect to the acquisition of the assets and business of CAA by AA through AC, and for the management of CAA’s business by AA from August 31, 2009 through December 26, 2009, the closing date contemplated by the Asset Purchase Agreement, pursuant to a Management Agreement dated August 31, 2009 (the “Management Agreement”);

           WHEREAS, CAA sold a vehicle auction (the “Auction Business”) located at 2120 Stein Drive, Chattanooga, Tennessee (the “Premises”) to AA pursuant to the Asset Purchase Agreement dated August 31, 2009 that was amended December 10, 2009 (as amended, the Asset Purchase Agreement is hereinafter referred to as the “APA”);

           WHEREAS, Jacobs, AC, and Sample entered into a Revolving Loan Note dated December 10, 2009 (the “Short Term Note”);

           WHEREAS, AC, as a wholly owned subsidiary of AA, took title to the Auction Business when the sale closed on or about December 26, 2009;

           WHEREAS, AC leased the Premises from Auction Venture pursuant to a Lease dated December 26, 2009 (the “Lease”);

           WHEREAS, AA executed and delivered to Auction Venture a Guaranty of Lease executed December 10, 2009 (the “Lease Guaranty”) with an effective date of December 26, 2009;

           WHEREAS, as part of the sale of the Auction Business, Jacobs extended a $2,000,000.00 revolving credit facility (the “Line of Credit”) to AC pursuant to a Revolving Loan Agreement dated December 26, 2009 (the “Loan Agreement”) and a Revolving Loan Note dated December 26, 2010 (the “Loan Note”);

           WHEREAS, Sample and AA each executed a Guaranty for the Line of Credit dated December 26, 2010 (the “Guaranties”);

 

  

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           WHEREAS, AC executed and delivered to Jacobs a Security Agreement dated December 26, 2009 (the “Security Agreement”);

           WHEREAS, AA executed and delivered to Jacobs a Stock Pledge Agreement dated December 26, 2009 (the “Stock Pledge”);

           WHEREAS, AA and CAA entered into a Non-Competition Agreement dated December 26, 2009 (the “Non-Competition Agreement”);

           WHEREAS, CAA and AC entered into an Assignment and Assumption (GSA Contract) dated December 26, 2009 (the “GSA Assignment”);

           WHEREAS, CAA, AA, and AC entered into an Indemnification Agreement dated February 24, 2010 (the “Indemnification Agreement”);

           WHEREAS, CAA, AA, AC, and Sample entered into a Guaranty of Indemnification Agreement dated February 24, 2010 (the “Indemnification Guaranty”);

           WHEREAS, CAA, AC, and the United States of America entered into a Novation Agreement dated on or after December 26, 2009 (the “Novation Agreement”);

           WHEREAS, on September 17, 2010, Jacobs declared an event of default under the Loan Agreement and Loan Note and took control of the Auction Business;

           WHEREAS, on September 24, 2010, Jacobs filed a Complaint against AA, AC, and Sample in the United States District Court for the Southern District of Ohio (the “Federal Court”), which was assigned Case No. 2:10-cv-863 (the “First Federal Action”);

           WHEREAS, Jacobs caused the First Federal Action to be dismissed and closed by a Stipulation filed October 7, 2010;

           WHEREAS, on October 7, 2010, Jacobs filed a Complaint against AA, AC, and Sample in the Franklin County, Ohio, Court of Common Pleas (the “State Court”), which was assigned Case No. 2010-CV-14740 (the “State Court Action”);

           WHEREAS, AA, AC, and Sample removed the State Court Action to the Federal Court, which was assigned Case No. 2:10-cv-912 (the “Second Federal Action”);

           WHEREAS, the Federal Court granted Jacobs judgments in the Second Federal Action against each of AC, AA and Sample (“Defendant”) on February 23, 2011 in the amount of $831,489.66, plus interest and costs;

WHEREAS, in response, Defendants, filed a Motion for Relief from Cognovit Judgment pursuant to Fed. Rule Civ. P. 60(b) along with a Motion to stay execution of the judgments pursuant to Fed. R. Civ. P. 62;

 

  

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           WHEREAS, execution of the judgments issued by the Federal Court in the Second Federal Action on February 23, 2011 was stayed by the Federal Court on March 28, 2011;

WHEREAS, the principal amount of the judgments issued on February 23, 2011 in the Second Federal Action was subsequently corrected on July 26, 2011 in a nunc pro tunc entry by the Federal Court from $831,489.66 to $721,536.40 (the “Judgments”);

WHEREAS, on December 21, 2011, the Federal Court granted Defendants’ Motion for Relief from Cognovit Judgment, and vacated the Judgments against AC, AA, and Sample in the Second Federal Action;

           WHEREAS, on November 5, 2010, AA and Sample filed a Complaint against Jacobs, Whann, CAA, Auction Venture, Bynum, and Moorby in the Federal Court, which was assigned Case No. 2:10-cv-995 (the “Third Federal Action”);

WHEREAS, on January 7, 2011, Moorby and Bynum filed a Counterclaim against Sample and AA in the Third Federal Action.

           WHEREAS, the Management Agreement, APA, Lease, Lease Guaranty, Line of Credit, Loan Agreement, Loan Note, Guaranties, Security Agreement, Stock Pledge, Non-Competition Agreement, GSA Assignment, Indemnification Agreement, Indemnification Guaranty, Novation Agreement, and the Short Term Note are referred to collectively herein as the “Prior Agreements”;

WHEREAS, on February 28, 2012, Jacobs assigned to CAA all of her right title and interest in the Line of Credit, the Loan Agreement, the Loan Note, the Security Agreement, the Stock Pledge and the Guaranties and the financing statements identifying Jacobs as a creditor of AA, Sample and AC; and

WHEREAS, the Parties have agreed to settle all claims and judgments against each other arising out of or related to the claims asserted in the State Court Action, the First Federal Action, the Second Federal Action and the Third Federal Action (collectively, the “Litigation Proceedings”), as well as all claims that were or could have been asserted in the Litigation Proceedings, pursuant to, and on the terms set forth, in this Agreement.

TERMS

           NOW THEREFORE, for valuable consideration, including the covenants and agreements stated below, the sufficiency of which is hereby acknowledged, the Parties agree as follows:

	
1.  

	
Settlement Payment.

Sample, AC and AA jointly and severally agree to pay CAA the sum of $150,000 (“Settlement Payment”) at the closing of the transactions contemplated by this Agreement (the “Closing”) on the Closing Date.  The Settlement Payment shall be made in immediately available funds via cashier’s checks issued by a bank or banks insured by the FDIC and made payable to or properly endorsed to CAA.

 

  

3

  

	
2.  

	
Sale of Assets.

	
a.  

	
Purchase and Sale of AC’s Assets.

On and subject to the terms and conditions of this Agreement, at the Closing, AC shall sell, convey, assign, transfer, and deliver to CAA, and CAA shall purchase, acquire, and accept delivery of, all right, title, and interest in and to CAA, all of the assets of AC of every type and kind (the “Assets”), including without limitation, the following:

	
(i)  

	
all items of personal property owned by AC and the prepaid assets of AC as of the Closing on the Closing Date, including, but not limited to prepayments made as of the Closing Date for taxes, insurance, and other services;

	
(ii)  

	
AC’s interest in the name "Chattanooga Auto Auction" (the "Trade Name");

	
(iii)  

	
AC’s interest in all data and operating history of the operations of AC and its predecessors (the "Data"); and

	
(iv)  

	
to the extent assignable, all of AC's licenses to operate as an auto auction (the "Licenses").

	
b.  

	
Method of Conveyance.

The sale, conveyance, assignment, transfer, and delivery by AC of the Assets to CAA in accordance with Section 2(a) shall be effected at the Closing by AC's execution and delivery to CAA of a Bill of Sale and Assignment of Intangible Assets in the form of Exhibit A (the "Bill of Sale").  The assignment of the Licenses, to the extent assignable and to the extent not accomplished by the execution and delivery of the Bill of Sale, shall be accomplished by the execution at or following Closing of any reasonable necessary consent or assignment documents.  The assignment of Seller's interest in the Trade Name, to the extent not accomplished by the execution and delivery of the Bill of Sale, shall be accomplished by the execution at or following Closing of any reasonable necessary consent or assignment documents.  All rights assigned to CAA are wholly unassignable, until and unless CAA first obtains consent and an agreement to strictly comply with the terms of the Agreement and all Exhibits thereto from any transferee of the loan documents.

	
c.  

	
Purchase Price.

At Closing, CAA shall pay to AC Five Thousand Dollars ($5,000) (the "Purchase Price"), payable by a credit in the amount of the Purchase Price in favor of AC against the outstanding balance of AC’s obligations to CAA under the Line of Credit.

 

  

4

  

 

	
3.  

	
GSA Contract Novation.

AC and CAA shall execute at Closing a Novation Agreement substantially in the form attached to the Amendment as Exhibit B (the "Second Novation Agreement"). CAA shall be responsible for delivering the executed Second Novation Agreement with respect to Contract Number GS-30F-J0048 (the “GSA Contract”) to the General Services Administration (“GSA”) along with all other documents and certificates reasonably requested by GSA including those items required under Federal Acquisition Regulation Subpart 42.1204. AC shall cooperate with CAA in providing any required documents consistent with the terms and conditions of the Agreement.  If the GSA requires that the form of the Second Novation Agreement be other than that attached hereto as Exhibit B, then the Parties shall negotiate any modifications in good faith and, if a satisfactory Second Novation Agreement has not been executed by the appropriate parties and the GSA within ninety (90) days following Closing, then the Parties shall enter into a Services Agreement permitting CAA to perform on behalf of AC the services contemplated under the GSA Contract, the terms of which shall be negotiated in good faith by AC and CAA.

	
4.  

	
Lease Termination.

AC and Auction Venture shall execute at Closing a Lease Termination Agreement with respect to the Lease of the Premises substantially in the form attached to the Amendment as Exhibit C (the "Lease Termination Agreement").

	
5.  

	
Consent by AA and Sample.

AC will at Closing take corporate action to approve this Agreement, including all Exhibits and the consummation of the settlement, releases and other transactions contemplated hereby and thereby in the form of director and shareholder actions annexed hereto as Exhibits D and E.  AA, in its capacity as the sole shareholder of AC and guarantor of the Lease, and Sample personally and in each of his capacities of a major shareholder of AA, the sole director of AA, the president and CEO of AA, as guarantor of the Line of Credit under the Guaranties, shall at Closing, execute and deliver to Jacobs the Consent annexed hereto as Exhibit F.

	
6.  

	
Further Release.

As a material and substantial inducement to Jacobs, CAA, Auction Venture and Whann to enter into and execute this Agreement and consummate the transactions contemplated hereby, Sample, AA and AC agree to execute and deliver to Jacobs, CAA, Auction Venture and Whann a general release in the form annexed hereto as Exhibit G upon the tender to AA of all of the following, each of which shall be tendered to AA by CAA as soon as reasonably practicable after the execution of the Second Novation Agreement:

	
a.  

	
The Second Novation Agreement, fully executed by all appropriate parties;

	
b.  

	
Share Certificate # 1001 evidencing 1000 shares of common stock of AC;

 

  

5

  

 

	
c.  

	
An executed termination statement with respect to the financing statements under the Security Agreement showing AC as debtor;

	
d.  

	
Notice of termination of the Security Agreement with respect to AC;

	
e.  

	
Notice of termination of the Stock Pledge with respect to AA;

	
f.  

	
Notice of full satisfaction of all of AC's obligations to CAA arising under the Line of Credit, the Loan Agreement, the Loan Note and the Security Agreement; and

	
g.  

	
A release, in the form annexed hereto as Exhibit H, of (i) AA from its obligations under the Guaranties and the Stock Pledge; and (ii) AC from its obligations under the Line of Credit, the Loan Agreement, the Loan Note or the Security Agreement.

	
7.  

	
Relinquishment and Disclaimer of Stock Interests.

Within 5 business days after this Agreement has been executed by all of the Parties, the Parties (except for Sample, Whann and Jacobs) shall transfer, convey, and assign to AA or Sample all share, option, and warrant interests (if any) in stock issued or to be issued by AA.  The transferring Parties make no representations or warranties in regard to said interests, except that they hereby represent and warrant that since December 1, 2009, they have not transferred, conveyed, assigned, gifted, pledged, hypothecated, or otherwise encumbered any of their respective share, option, or warrant interests (if any) in stock issued by AA or gifted by Sample.

CAA shall return the original Stock Pledge and related documents, including the AC stock certificate and the stock power, with its original, executed copy of this Agreement to AA.

Shares of AA that AA claims to have issued, which are to be cancelled and returned directly to AA, include:

	
·  

	
Tony Moorby: Certificate #C-522 for 500,000 shares issued 3-19-2007.

 

AA will provide to Moorby the documentation and instructions needed to remove the shares from any records ownership in his name.  Moorby shall promptly complete and execute the documentation and return it to AA within 5 business days.

 

Shares that have been gifted to recipients directly by Sample, and which shall be returned directly to Sample, include:

 

	
·  

	
Jo Ann Bynum:  10,000 shares gifted by Sample on Certificate #C-692 July 7, 2008;

 

	
·  

	
John David Bynum:  10,000 shares gifted by Sample on Certificate #C-691 July 7, 2008, and 5,000 shares gifted by Sample on Certificate Number C-705 December 19, 2008;

 

  

6

  

 

	
·  

	
Adrienne E. Moorby:  1,000 shares gifted by Sample on Certificate #C-610 August 7, 2007;

 

	
·  

	
Olivia M. Moorby:  1,000 shares gifted by Sample on Certificate #C-611 August 7, 2007;

 

	
·  

	
Robert A. L. Moorby:  1,000 shares gifted by Sample on Certificate #C-612 August 7, 2007;

 

	
·  

	
Aiden Moorby:  1,000 shares gifted by Sample on Certificate #C-613 August 7, 2007;

 

	
·  

	
Terry L. Moorby:  1,000 shares gifted by Sample on Certificate #C-614 August 7, 2007;

 

	
·  

	
Allison B. Moorby:  1,000 shares gifted by Sample on Certificate #C-633 August 14, 2007;

 

	
·  

	
Tony Moorby:  1,000 shares gifted by Sample on Certificate #C-615 August 7, 2007; 5,000 shares gifted by Sample on Certificate #C-652 November 9, 2007; and 5,000 shares gifted by Sample on Certificate #C-653 November 9, 2007.

 

Sample will provide to Bynum and Moorby the documentation and instructions needed to transfer the above interests to Sample.  Bynum and Moorby shall promptly distribute and coordinate the completion and return of the documentation transferring all of the above interests to Sample within 5 business days.

 

AA believes it erroneously ordered the issuance of stock certificates number C-715 and C-716 for 10,000 shares each to Jacobs and Whann, respectively, and that those certificates were not received by Jacobs and Whann.  AA wishes to correct this error.  Whann and Jacobs deny having requested, been issued or received any stock of AA, and shall deliver to AA an affidavit confirming these facts.

 

	
8.  

	
Form 8K Filing.

 

As soon as reasonably practicable after the Closing, AA will file with the United States Securities and Exchange Commission (“SEC”) a Form 8K in the form attached hereto as Exhibit I.

 

	
9.  

	
Non-Compete.

 

	
a.  

	
For twenty-four (24) months following the Closing Date, Bynum and Moorby shall not knowingly, directly or indirectly, own, manage, operate, control, be employed by, work on behalf of, invest in, assist (financially or otherwise), provide advisory services to, provide consulting services to, or provide other services to any person or any entity who is engaged in the operation of a licensed auto auction or similar business, for the purpose of engaging in the operation of a licensed auto auction or similar business within fifty (50) miles of 1200 East Buena Vista Avenue, North Augusta, South Carolina 29841.

 

  

7

  

 

	
b.  

	
CAA Liquidation, LLC, Auction Venture Limited Liability Company, Whann, and Jacobs, agree to not operate a licensed auto auction or similar business from a physical location within 150 miles of 1200 East Buena Vista Avenue, North Augusta, South Carolina 29841 for a period of twelve (12) months following the Closing Date.

 

	
c.  

	
These restrictive covenants are distinct and severable, and in the event that any or all of the foregoing restrictive covenants shall be determined by a court of competent jurisdiction to be unenforceable by reason of their geographic or temporal restrictions being too great, or by reason that the range of activities covered are too great, or for any other reason, they shall be interpreted to extend over the maximum geographic area, period of time, range of activities, or other restrictions as to which they may be enforceable.

 

	
d.  

	
The Parties agree that a breach of these restrictive covenants will cause irreparable harm to AA, the extent of which is difficult to ascertain, and that the award of damages may not be adequate relief.  As a result, the Parties agree that, in the event of a breach or a threatened breach of any restrictive covenants herein contained, AA may institute an action to compel the specific performance of the covenants against the purported offending Party.  The Parties hereby further consent to the granting of such remedy, agree not to assert adequacy of money damages as a defense, and agree that such remedy shall be cumulative, not exhaustive, and in addition to any other available remedies.

 

	
10.  

	
Dismissal of Litigation Proceedings and Release of Judgments and Judgment Liens.

 

Concurrent with the Closing, the Parties will sign entries of release and dismissal, in the forms attached hereto as Exhibit J so as to dismiss with prejudice all pending Litigation Proceedings and to release and discharge any judgments or judgment liens obtained in or as a result of the Litigation Proceedings.  On or before the 21st day after the Closing Date, the Parties (by and through their respective counsel) shall file the fully executed entries of release and dismissal with the Court in the Second Federal Action and the Third Federal Action, respectively.  The court costs incurred in the Litigation Proceedings shall be borne equally.

 

	
11.  

	
UCC Termination.

 

CAA shall execute and file termination of all financing statements identifying it as a creditor of Sample.  AC and AA each acknowledge that the Security Agreement, Stock Pledge and corresponding financing statements shall remain in full force and effect until the requirements of paragraph 6 have been met.

 

	
12.  

	
No Disparagement.

 

The Parties agree not to disparage each other, or each other's employees or other representatives, orally or in writing, in relation to the Prior Agreements or the Litigation Proceedings or this Agreement.

 

  

8

  

 

	
13.  

	
Mutual Releases.

 

	
a.  

	
Except as otherwise provided herein, Jacobs, Whann, CAA, and Auction Venture, by and on behalf of each of themselves and their respective predecessors, successors and assigns, hereby fully, finally and forever release and discharge AA, AC, Sample, Bynum, and Moorby, as well as their respective divisions, agencies, affiliates, subsidiaries, parents, owners, partners, members, shareholders, attorneys, insurers, predecessors, successors, assigns, guarantors, employees, and agents, from any and all manner of claims, actions, or causes of action, in law or in equity, suits, debts, liens, contracts, agreements, promises, liabilities, demands, damages, losses, costs, attorneys’ fees, or expenses, of any nature, source, or origin, known or unknown, fixed or contingent, that the releasing Party has or had, including but not limited to any claims that were or could have been asserted in the Litigation Proceedings.  Jacobs, Whann, CAA, and Auction Venture covenant not to sue or bring claims against, or have any entities with which they are affiliated sue or bring claims against, AA, AC, Sample, Bynum, or Moorby, in relation to the Litigation Proceeding as well as all claims that were or could have been asserted in the Litigation Proceedings.  Notwithstanding the above, while Sample is fully, finally and forever released and discharged, the foregoing (i) does not release or terminate, in any respect, the rights of CAA or any obligations that AC has under the Line of Credit, the Loan Agreement, the Loan Note or the Security Agreement, and (ii) does not release AA from its obligations under the Guaranties or the Stock Pledge but shall be deemed to be a modification of the Guaranties and the Stock Pledge to limit the liability of AA thereunder to the Pledged Stock (as defined in the Stock Pledge).

 

	
b.  

	
Except as otherwise provided herein, AC, AA, and Sample, by and on behalf of each of themselves and their respective predecessors, successors and assigns, hereby fully, finally and forever release and discharge Jacobs, Whann, CAA, Auction Venture, Bynum, and Moorby, as well as their respective divisions, agencies, affiliates, subsidiaries, parents, owners, partners, members, shareholders, attorneys, insurers, predecessors, successors, assigns, guarantors, employees, and agents, from any and all manner of claims, actions, or causes of action, in law or in equity, suits, debts, liens, contracts, agreements, promises, liabilities, demands, damages, losses, costs, attorneys’ fees, or expenses, of any nature, source, or origin, known or unknown, fixed or contingent, that the releasing Party has or had, including but not limited to any claims that were or could have been asserted in the Litigation Proceedings.  AC, AA, and Sample covenant not to sue or bring claims against, or have any entities with which they are affiliated sue or bring claims against, Jacobs, Whann, CAA, Auction Venture, Bynum, or Moorby, in relation to the Litigation Proceedings as well as all claims that were or could have been asserted in the Litigation Proceedings.

 

	
c.  

	
Except as otherwise provided herein, Bynum and Moorby, by and on behalf of each of themselves and their respective predecessors, successors and assigns, hereby fully, finally and forever release and discharge AA, AC, Sample, Jacobs, Whann, CAA, and Auction Venture, as well as their respective divisions, agencies, affiliates, subsidiaries, parents, owners, partners, members, shareholders, attorneys, insurers, predecessors, successors, assigns, guarantors, employees, and agents, from any and all manner of claims, actions, or causes of action, in law or in equity, suits, debts, liens, contracts, agreements, promises, liabilities, demands, damages, losses, costs, attorneys’ fees, or expenses, of any nature, source, or origin, known or unknown, fixed or contingent, that the releasing Party has or had, including but not limited to any claims that were or could have been asserted in the Litigation Proceedings and any claims arising out of or related to any employment agreements or compensation agreements.  Bynum and Moorby covenant not to sue or bring claims against, or have any entities with which they are affiliated sue or bring claims against, AC, AA, Sample, Jacobs, Whann, CAA, or Auction Venture, in relation to the Litigation Proceedings as well as all claims that were or could have been asserted in the Litigation Proceedings or any prior employment.

 

  

9

  

 

	
14.  

	
Other Terms.

 

	
a.  

	
This Agreement shall not be interpreted to render either party the prevailing party for any purpose, including, but not limited to, an award of attorney fees under any applicable statute or otherwise.

 

	
b.  

	
This Agreement shall be binding on the Parties’ respective successors and assigns.

 

	
c.  

	
The Parties acknowledge that they have been and are represented by attorneys regarding the terms of this Agreement, and have fully and adequately discussed the terms of the Agreement with their respective legal counsel.

 

	
d.  

	
The Parties acknowledge that each of them fully understands this Agreement and its final and binding effect, and that each of them has freely and voluntarily entered into it, without coercion, duress, or undue influence.

 

	
e.  

	
This Agreement shall not be construed against any Party as the drafter.  Should any provision of this Agreement be declared or determined by any court to be illegal or invalid, the validity of the remaining parts, terms or provisions shall not be affected thereby and the illegal or invalid part, term or provision shall be deemed not to be a part of this Agreement.

 

	
f.  

	
This Agreement shall be controlled and interpreted according to the laws of the State of Ohio.

 

	
g.  

	
The Parties hereby consent to the exclusive jurisdiction of the courts of Franklin County in the State of Ohio or the federal courts in the State of Ohio having jurisdiction over Franklin County (to the extent the federal courts otherwise have subject matter jurisdiction), and waive any contention that any such court is an improper venue.

 

  

10

  

 

	
h.  

	
This Agreement constitutes the entire agreement between the Parties and supersedes all prior agreements between the Parties concerning the subjects of this Agreement.

 

	
i.  

	
The Parties to this Agreement each acknowledge that no representations, inducements, promises, agreements, or warranties, oral or otherwise, have been made by them, or anyone acting on their behalf, which are not embodied in this Agreement, and that they have not executed this Agreement in reliance upon any such representation, inducement, promise, agreement, or warranty not contained in this Agreement.

 

	
j.  

	
No modification, waiver, or termination of this Agreement shall be valid and binding, unless executed in writing by all the Parties to this Agreement.

 

	
k.  

	
This Agreement may be executed in several counterparts, including by facsimile, PDF or other electronic transmission, each of which taken together shall constitute the entire Agreement.

 

	
l.  

	
The Parties further agree that this Agreement shall become final and binding upon them upon transmission by facsimile or otherwise to the other Party’s counsel of copies of their respective signatures upon this Agreement.

 

	
m.  

	
The Parties agree to cooperate and exercise reasonable efforts to accomplish and implement all acts necessary to reasonably conclude this Agreement and the actions contemplated by it in good faith and will take no action that is inconsistent with full performance of this Agreement or any term thereof.

 

	
n.  

	
The undersigned affirmatively state that they are specifically authorized to enter into this Agreement on behalf of the Party for whom he or she is signing.

 

	
o.  

	
Each Party shall bear its own attorneys’ fees, costs and expenses associated with any disputes about or related to this Agreement.

 

  

11

  

/s/ Alexis Ann Jacobs                                                                                          Dated:                      February 28, 2012 

Alexis Ann Jacobs

/s/ Steven L. Sample                                                                                             Dated:                      February 28, 2012 

Steven L. Sample

 

/s/ Keith E. Whann                                                                                               Dated:                      February 28, 2012                                

Keith E. Whann

 

 

/s/ David Bynum                                                                                                   Dated:                      February 28, 2012                                

David Bynum

 

/s/ Tony Moorby                                                                                                  Dated:                      February 28, 2012                                

Tony Moorby

 

CAA Liquidation, LLC                                                                                         Dated:                      February 28, 2012                                

By: /s/ Keith Whann                     

Name: Keith Whann                      

Its: Vice President                          

 

Auction Venture Limited Liability Company                                                    Dated:                      February 28, 2012 

By: /s/ Alexis A. Jacobs               

Name: __________    

Its: Sole Member                            

 

Acacia Automotive, Inc.                                                                                      Dated:                      February 28, 2012 

By: /s/ Steven L. Sample               

Name: Steven L. Sample                

Its: CEO                                           

 

Acacia Chattanooga Vehicle Auction, Inc.                                                      Dated:                      February 28, 2012                                

By: /s/ Keith Whann                     

Name: Keith Whann                     

Its: President                                  

 

  

12

  

EXHIBIT A

Form of Bill of Sale and Assignment of Intangible Assets

[See attached.]

 

  

A-1

  

 

EXHIBIT B

Form of Second Novation Agreement

[See attached.]

 

  

B-1

  

 

EXHIBIT C

Form of Lease Termination Agreement

[See attached.]

 

  

C-1

  

 

EXHIBIT D

Form of Director Actions

[See attached.]

 

  

D-1

  

EXHIBIT E

Form of Shareholder Actions

[See attached.]

 

  

E-1

  

 

EXHIBIT F

Form of Consent by AA and Sample

[See attached.]

 

  

F-1

  

 

EXHIBIT G

Form of Further General Release

[See attached.]

 

  

G-1

  

EXHIBIT H

Form of Release by CAA

[See attached.]

 

  

H-1

  

 

EXHIBIT I

Form of 8-K

[See attached.]

 

  

I-1

  

EXHIBIT J

Forms of Entries of Release and Dismissal

[See attached.]

 

  

J-1

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