Document:

srer_ex1016.htm

EXHIBIT 10.16

 

LEASE ASSUMPTION AGREEMENT

This Lease Assumption Agreement (this “Agreement”) is entered into effective December 31, 2012 (the “Effective Date”) by and between SearchCore, Inc., a Nevada corporation (the “Company”) and RJM BV, a Dutch corporation (“RJM”).  Each of the Company and RJM may be referred to herein as a “Party” and collectively as the “Parties.”

RECITALS

WHEREAS, the Company previously entered into that certain Office Lease Agreement, dated January 17, 2011 (the “Lease”), a copy of which is attached hereto as Exhibit A;

 

WHEREAS, the Company and RJM entered into that certain Agreement and Plan of Reorganization dated December 11, 2012 (the “Agreement and Plan of Reorganization”), whereby the Company desires to sell and RJM desires to purchase various assets of the Company;

WHEREAS, as partial consideration under the Agreement and Plan of Reorganization, RJM desires to assume the Lease as set forth herein.

NOW THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Parties agree as follows:

AGREEMENT

1. As partial consideration under the Agreement and Plan of Reorganization, RJM assumes any and all obligations of the Company contained in the Lease.

IN WITNESS WHEREOF, the parties have caused this Agreement to be executed as of the Effective Date.

	
“Company”

	 	
“RJM”

	  	 	  
	
SearchCore, Inc.,

	 	
RJM BV,

	
a Nevada corporation

	 	
a Dutch corporation

	  	 	  
	  	 	  
	/s/ James Pakulis  	 	/s/ Mario Lap  
	
By:  James Pakulis

	 	
By:  Mario Lap

	
Its:  President and Chief Executive Officer

	 	
Its:  President

  

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Exhibit A

 

Lease

 

 

 

2srer_ex1017.htm

EXHIBIT 10.17

 

AGREEMENT ASSUMPTION AGREEMENT

This Lease Assumption Agreement (this “Agreement”) is entered into effective December 31, 2012 (the “Effective Date”) by and between WeedMaps Media, Inc., a Nevada corporation (“WeedMaps”) and SearchCore, Inc., a Nevada corporation and the sole shareholder of WeedMaps (“SearchCore” and, together with WeedMaps, the “Company”) and RJM BV, a Dutch corporation (“RJM”).  Each of the Company and RJM may be referred to herein as a “Party” and collectively as the “Parties.”

RECITALS

WHEREAS, the Company previously entered various agreements set forth on Exhibit A (the “Assumed Agreements”);

WHEREAS, the Company and RJM entered into that certain Agreement and Plan of Reorganization dated December 11, 2012 (the “Agreement and Plan of Reorganization”), whereby the Company desires to sell and RJM desires to purchase various assets of the Company;

WHEREAS, as partial consideration under the Agreement and Plan of Reorganization, RJM desires to assume the Assumed Agreements as set forth herein.

NOW THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Parties agree as follows:

AGREEMENT

1. As partial consideration under the Agreement and Plan of Reorganization, RJM assumes any and all obligations of the Company contained in the Assumed Agreements.

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IN WITNESS WHEREOF, the parties have caused this Agreement to be executed as of the Effective Date.

	
“Company”

	 	
“WeedMaps”

	  	 	  
	
SearchCore, Inc.,

	 	
WeedMaps Media, Inc.,

	
a Nevada corporation

	 	
a Nevada corporation

	  	 	  
	
/s/ James Pakulis

	 	
/s/ James Pakulis

	
By:  James Pakulis

	 	
By:  James Pakulis

	
Its:  President and Chief Executive Officer

	 	
Its:  President

	  	 	  
	  	 	  
	
“RJM”

	 	  
	  	 	  
	
RJM BV,

	 	  
	
a Dutch corporation

	 	  
	  	 	  
	
/s/ Mario Lap

	 	  
	
By:  Mario Lap

	 	  
	
Its:  President

	 	  

 

  

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Exhibit A

Assumed Agreements

	
1.  

	
Listing Agreement dated January 4, 2011 with Prescription Vending Machines, Inc.

	
2.  

	
Website Promotion and Testing Services Agreement dated June 24, 2011 with SC Laboratories, Inc.

	
3.  

	
Domain Name Purchase Agreement dated November 18, 2011 with Global Life Enhancements, Inc.

	
4.  

	
Non-Recourse Secured Promissory Note dated November 18, 2011 with Global Life Enhancements, Inc.

	
5.  

	
Various Marketing Agreements and/or Video Production Agreements for WeedMaps.com or Marijuana.com.

	
6.  

	
Severance Agreement and General Release dated July 25, 2012 by and between SearchCore, Inc. and Gerald Lotter.

	
7.  

	
Global Securities Purchase, Consulting, and Resignation Agreement by and between SearchCore, WeedMaps, and Justin Hartfield dated as of July 31, 2012.

	
8.  

	
Global Securities Purchase and Resignation Agreement by and between SearchCore, WeedMaps, and Doug Francis dated as of July 31, 2012.

	
9.  

	
Separation Agreement and Release of All Claims by and between SearchCore, Inc. and Randolph Briggs dated effective as of August 1, 2012.

	
10.  

	
Consulting Services Agreement by and between SearchCore, Inc. and Randolph Briggs dated December 1, 2012.

	
11.  

	
Global Securities Purchase Agreement by and between SearchCore, WeedMaps, and Keith Hoerling dated August 14, 2012.

 

 

  

3srer_ex1018.htm

EXHIBIT 10.18

 

NON-COMPETITION AGREEMENT

This Non-Competition Agreement (this “Agreement”) is entered into effective December 31, 2012 (the “Effective Date”), by and among RJM BV, a Dutch corporation (“RJM” or the “Buyer”), SearchCore, Inc., a Nevada corporation (the “Seller”), James Pakulis, an individual (“Pakulis”) and Brad Nelms, an individual (“Nelms”, and together with Pakulis and Seller, the “Bound Parties”) pursuant to the Agreement and Plan of Reorganization dated December 11, 2012, by and among the Buyer, Seller, and WeedMaps Media, Inc., a Nevada corporation (“WeedMaps”) (the “Purchase Agreement”).  Capitalized terms used and not otherwise defined in this Agreement have the meanings ascribed to them in the Purchase Agreement.

 

RECITALS:

 

WHEREAS, the Bound Parties have been involved in the operation of the business of WeedMaps, defined for purposes of this Agreement as internet search and website operation for the medicinal cannabis industry (the “Business”);

 

WHEREAS, pursuant to the Purchase Agreement, the Seller is selling WeedMaps to Buyer and Buyer is purchasing WeedMaps from SearchCore;

 

WHEREAS, the execution and delivery of this Agreement is a condition precedent to, and an integral part of, the consideration flowing from Buyer for its consummation of the transactions contemplated by the Purchase Agreement including its payment of the Purchase Price; and

 

WHEREAS, the execution and delivery of this Agreement is necessary to ensure that Buyer receives the full benefit of the Purchase Agreement and preserve the goodwill associated with the Business, the Bound Parties agree to certain restrictions on their business activities from and after the Effective Date, upon the terms and subject to the conditions set forth in this Agreement.

 

NOW, THEREFORE, in consideration of the mutual covenants contained in this Agreement and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereby agree as follows:

 

1. Term.  The term of this Agreement shall commence on the Effective Date and expire on the day before the fifth (5th) anniversary hereof (the “Term”).

 

2. Confidentiality; Non-Disclosure.  The Bound Parties acknowledge and agree that they have and in the future may continue to have access to secret and confidential information relating to the Business (“Confidential Information”) and that the following restrictive covenants are necessary to protect the interests and continued success of the Business.  The Bound Parties shall not disclose any Confidential Information to any person or entity at any time during or after the expiration or earlier termination of this Agreement.  As used in this Agreement, Confidential Information includes, without limitation, all information of a technical or commercial nature (such as information consisting of research and development, patents, trademarks and copyrights and applications thereto, formulas, codes, computer programs, software, methodologies, processes, innovations, software tools, know-how, knowledge, designs, drawings specifications, concepts, data, reports, techniques, documentation, pricing marketing plans, customer and prospect lists, trade secrets, financial information, salaries, business affairs, suppliers, profits, markets, sales strategies, forecasts and personnel information), whether written  or oral, relating to the Business, its customers and/or other business associates.  The term “Confidential Information” shall not include information that has been made available to the public generally through no fault or breach of any Bound Party or that the Buyer regularly gives to third parties without restriction on use or disclosure.

 

  

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3. Non-Competition.  The Bound Parties agree that during the Term they will not, directly or indirectly, whether or not for compensation, be engaged in or have any financial interest in any business, wherever located, competing with or which may compete with the Business as it exists on the Effective Date.  For purposes of this Agreement, a Bound Party will be deemed to be “engaged in or to have a financial interest in” a business if a Bound Party is an owner, shareholder, employee, officer, director, partner, agent, consultant, service provider, representative, salesperson, advisor, investor, principal, joint venturer or member of or to any Person, which is engaged in such a business, or if such Bound Party directly or indirectly receives remuneration from or performs services for such a Person, or if a member of such Bound Party’s immediate family beneficially owns an equity interest, or interest convertible into equity, in any such entity; provided, however, that the foregoing will not prohibit any Bound Party from owning, for the purpose of passive investment, less than 5% of any class of securities of a publicly held corporation actively traded on a national securities exchange.

 

4. Non-Solicitation/Non-Interference.During the Term the Bound Parties shall not, directly or indirectly, acting as an employee, owner, shareholder, partner, member, joint venturer, contractor, advisor, representative, officer, director, agent, salesperson, consultant, service provider, advisor, investor or principal of any Person:

 

(a) solicit, advise, provide or sell, directly or indirectly, any services or products of the same or similar nature to services or products of the Business, to any client or prospective client of WeedMaps.  For purposes of this Agreement the terms prospective client shall mean any Person or group of associated Persons whose business WeedMaps has solicited at any time from the Effective Date to the termination of this Agreement;

 

(b) solicit, request or otherwise attempt to induce or influence, directly or indirectly, any present client, distributor or supplier, or prospective client, distributor or supplier, of WeedMaps, to cancel, limit or postpone their business with WeedMaps, or otherwise take action which might be to the disadvantage of WeedMaps; or

 

(c) hire or solicit for employment, directly or indirectly, or induce or actively attempt to influence, any employee, officer, director, agent, contractor or other business associate of WeedMaps (excluding employees prior to December 31, 2012), to terminate his or, her employment or discontinue such person’s consultant, contractor or other business association with WeedMaps.

 

  

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5. Consideration.  The parties acknowledge and agree that this Agreement is being entered into by the Bound Parties (i) in order to induce Buyer to enter into the Purchase Agreement and to consummate the transactions contemplated thereby, (ii) in consideration of the Purchase Price to be paid for WeedMaps, and (iii) to preserve the goodwill associated with the Business.  The Bound Parties acknowledge that no consideration beyond the Purchase Price set forth in the Purchase Agreement shall be paid to them in consideration of this Agreement.

 

6. Violation of Covenants.  If any Bound Party violates any of the restrictive covenants contained in this Agreement, (i) the applicable restrictive period (with respect to each violating Bound Party) shall be increased by the period of time from the commencement of any such violation until the time such violation shall be cured by the violating Bound Party to the satisfaction of Buyer, and (ii) Buyer may pursue any and all remedies available to it at law and/or in equity to enforce, and recover damages for the breach of, the restrictive covenants contained in this Agreement, including, without limitation, demanding injunctive relief under Section 8.

 

7. Scope of Covenants.  In the event that any of the provisions of this Agreement should ever be adjudicated to exceed the time, geographic, product or service and/or other limitations permitted by applicable law in any jurisdiction, then such provisions shall be deemed reformed in such jurisdiction to the maximum time, geographic, product or service and/or other limitations permitted by applicable law.  If the covenants of this Agreement are determined to be wholly or partially unenforceable in any jurisdiction, such determination shall not be a bar to or in any way diminish the Buyer’s right to enforce such covenants in any other jurisdiction.

 

8. Injunctive Relief.  The Bound Parties acknowledge and agree that in the event of a breach or threatened breach of this Agreement by any Bound Party, Buyer may suffer irreparable harm and money damages alone would not afford Buyer an adequate remedy and, therefore, Buyer shall be entitled to obtain immediate injunctive relief, including, without limitation, a temporary restraining order and a preliminary and permanent injunction, in any court of competent jurisdiction (without being obligated to post a bond or other collateral) restraining the Bound Party(ies) from such breach or threatened breach of the restrictive covenants contained in this Agreement.  Nothing herein shall be construed as prohibiting Buyer from pursuing any other remedies available to it for such breach or threatened breach, including, without limitation, the recovery of monetary damages from the Bound Parties, jointly and severally.

 

  

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9. Waiver.  The waiver by either party of any breach by the other party of any provision of this Agreement shall not operate or be construed as a waiver of any subsequent breach by such party.

 

10. Assignment.  The Buyer may freely assign this Agreement, provided that Buyer requires such assignee to expressly assume its obligations hereunder.  The Bound Parties may not assign any of the Bound Parties’ duties, responsibilities or obligations hereunder and any attempted assignment by any Bound Party shall be void and of no force and effect.  This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and permitted assigns.

 

11. No Conflicts.  The Bound Parties, jointly and severally, represent and warrant to Buyer that the execution, delivery and performance by the Bound Parties of this Agreement has been fully authorized and do not conflict with and will not result in a violation or breach of, or constitute (with or without the giving of notice or the lapse of time or both) a default under any contract, agreement or understanding, whether oral or written, to which any Bound Party is a party or by which any Bound Party is bound and the there are no restrictions, covenants, agreements or limitations (including under any Bound Party’s Organizational Documents) on any Bound Party’s right or ability to enter into and fully perform this Agreement, and the Bound Parties agree to indemnify save Buyer harmless from any liability, cost or expense, including attorney’s fees, based upon or arising out of any such restrictions, covenants, agreements, or limitations that may be found to exist.

 

12. Entire Agreement.  This Agreement contains the entire agreement of the parties and all promises, representations, understandings, arrangements and prior agreements on such subject are merged herein and superseded hereby.  The provisions of this Agreement may not be amended, modified, repealed, waived or extended except by an agreement in writing signed by the party against whom enforcement of such amendment, modification, repeal, waiver or extension is sought.

 

13. Governing Law.  This Agreement and all matters arising under (directly or indirectly) or related to this Agreement, shall be governed by and construed in accordance with the laws of the State of California without giving effect to the choice of law or conflicts of law principles thereof.

 

14. Jurisdiction; Venue.  Each of the parties hereto agrees that any action or suit which may be brought by any party hereto against any other party hereto in connection with this Agreement or the transactions contemplated hereby may be brought only in a federal or state court in Orange County, California.

 

  

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

 

16. Survival.  Sections 2, 6 and 8 through 16 shall survive the expiration or earlier termination of this Agreement.

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IN WITNESS WHEREOF, the Parties hereto have executed this Agreement as of the date first written hereinabove.

	
“RJM”

	  	
“SearchCore”

	  	  	  
	
RJM BV,

	  	
SearchCore, Inc.,

	
a Dutch corporation

	  	
a Nevada corporation

	  	  	  
	  	  	  
	/s/ Mario Lap	  	/s/ James Pakulis
	
By:  Mario Lap

	  	
By:  James Pakulis

	
By:  President

	  	
Its:  President and Chief Executive Officer

	  	  	  
	  	  	  
	  	  	  
	  	  	  
	  	  	  
	  	  	  
	/s/ James Pakulis	  	/s/ Brad Nelms
	
By:  James Pakulis, an individual

	  	
By:  Brad Nelms, an individual

	  	  	  

 

 

 

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