Document:

ASSET
      PURCHASE AGREEMENT

     

    AMONG

    

      TITAN
        WIRELESS RM, INC. 

      

        AND

        
          

            READY
              MOBILE, LLC 

             

          

        

      

    

    

      DC
        CELLULAR VENTURES, LLC

       

      ASPER
        ELIASON PARTNERSHIP

       

      ELIASON
        MANAGEMENT COMPANY, INC.,

       

      JAY
        ELIASON

       

       

    

    

      DATED
        AS OF APRIL 8, 2007

       

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    TABLE
      OF CONTENTS

    

      
        	
                ARTICLE
                  I.

              	
                PURCHASE
                  AND SALE OF ASSETS

              	 	
                1

              
	
                1.1.

              	
                Sale
                  of Assets

              	 	
                1

              
	
                1.2.

              	
                Excluded
                  Assets

              	 	
                2

              
	
                1.3.

              	
                Assumed
                  Liabilities; Excluded Liabilities; Employees

              	 	
                2

              
	
                1.4.

              	
                Purchase
                  Price; Adjustment; Payment

              	 	
                3

              
	
                1.5.

              	
                Purchase
                  Price Allocation

              	 	
                4

              
	
                1.6.

              	
                Records
                  and Contracts

              	 	
                4

              
	
                1.7.

              	
                Further
                  Assurances

              	 	
                4

              
	
                1.8.

              	
                Sales
                  and Transfer Taxes

              	 	
                5

              
	
                1.9.

              	
                Transfer
                  of Subject Assets

              	 	
                
                  5

                

              
	 	 	 	 
	
                ARTICLE
                  II.

              	
                CLOSING
                  AND TERMINATION

              	 	
                
                  5

                

              
	
                2.1.

              	
                Closing
                  Date

              	 	
                
                  5

                

              
	
                2.2.

              	
                Termination
                  of Agreement

              	 	
                
                  5

                

              
	
                2.3.

              	
                Procedure
                  Upon Termination

              	 	
                
                  5

                

              
	
                2.4.

              	
                Effect
                  of Termination

              	 	
                6

              
	 	 	 	 
	
                ARTICLE
                  III.

              	
                REPRESENTATIONS
                  AND WARRANTIES OF THE SELLER AND THE OWNERS

              	 	
                
                  6

                

              
	
                3.1.

              	
                Organization
                  and Good Standing

              	 	
                
                  6

                

              
	
                3.2.

              	
                Authorization
                  of Agreement

              	 	
                
                  6

                

              
	
                3.3.

              	
                Ownership
                  of Seller

              	 	
                
                  6

                

              
	
                3.4.

              	
                No
                  Subsidiaries

              	 	
                
                  6

                

              
	
                3.5.

              	
                Conflicts;
                  Consents of Third Parties

              	 	
                
                  7

                

              
	
                3.6.

              	
                Ownership
                  and Transfer of Assets

              	 	
                7

              
	
                3.7.

              	
                Financial
                  Statements

              	 	
                7

              
	
                3.8.

              	
                Absence
                  of Certain Developments

              	 	
                8

              

      

       

      
        
          
          

        

        
          -i-

          
            

          

        

        
          
          

        

      

       

      
        	
                3.9.

              	
                Taxes

              	 	
                9

              
	
                3.10.

              	
                Real
                  Property

              	 	
                11

              
	
                3.11.

              	
                Tangible
                  Personal Property

              	 	
                12

              
	
                3.12.

              	
                Intangible
                  Property

              	 	
                12

              
	
                3.13.

              	
                Material
                  Contracts

              	 	
                13

              
	
                3.14.

              	
                Employee
                  Benefits

              	 	
                13

              
	
                3.15.

              	
                Labor

              	 	
                14

              
	
                3.16.

              	
                Litigation

              	 	
                15

              
	
                3.17.

              	
                Compliance
                  with Laws; Permits

              	 	
                15

              
	
                3.18.

              	
                Environmental
                  Matters

              	 	
                15

              
	
                3.19.

              	
                Insurance

              	 	
                16

              
	
                3.20.

              	
                Inventories;
                  Receivables; Payables

              	 	
                
                  16

                

              
	
                3.21.

              	
                Customers
                  and Suppliers

              	 	
                
                  16

                

              
	
                3.22.

              	
                No
                  Misrepresentations

              	 	
                
                  16

                

              
	
                3.23.

              	
                Financial
                  Advisors

              	 	
                
                  16

                

              
	
                3.24.

              	
                Patriot
                  Act

              	 	
                17

              
	 	 	 	 
	
                ARTICLE
                  IV.

              	
                REPRESENTATIONS
                  AND WARRANTIES OF PURCHASER AND PURCHASER

              	 	
                17

              
	
                4.1.

              	
                Organization
                  and Good Standing

              	 	
                17

              
	
                4.2.

              	
                Authorization
                  of Agreement

              	 	
                17

              
	
                4.3.

              	
                Conflicts;
                  Consents of Third Parties

              	 	
                18

              
	
                4.4.

              	
                Litigation

              	 	
                18

              
	
                4.5.

              	
                Financial
                  Advisors

              	 	
                18

              
	
                4.6.

              	
                Patriot
                  Act

              	 	
                18

              
	
                4.7.

              	
                No
                  Misrepresentations

              	 	
                18

              

      

       

      
        
          
          

        

        
          -ii-

          
            

          

        

        
          
          

        

      

       

      
        	
                ARTICLE
                  V.

              	
                COVENANTS

              	 	
                19

              
	
                5.1.

              	
                Access
                  to Information

              	 	
                19

              
	
                5.2.

              	
                Conduct
                  of the Business Pending the Closing

              	 	
                19

              
	
                5.3.

              	
                Consents

              	 	
                20

              
	
                5.4.

              	
                Other
                  Actions

              	 	
                20

              
	
                5.5.

              	
                No
                  Solicitation

              	 	
                21

              
	
                5.6.

              	
                Conduct
                  of the Business by Purchaser

              	 	
                21

              
	
                5.7.

              	
                Preservation
                  of Records

              	 	
                21

              
	
                5.8.

              	
                Publicity

              	 	
                22

              
	
                5.9.

              	
                Use
                  of Name

              	 	
                22

              
	 	 	 	 
	
                ARTICLE
                  VI.

              	
                CONDITIONS
                  TO CLOSING

              	 	
                22

              
	
                6.1.

              	
                Conditions
                  Precedent to Obligations of Purchaser

              	 	
                22

              
	
                6.2.

              	
                Conditions
                  Precedent to Obligations of the Seller and Owners

              	 	
                23

              
	
                 

              	 	 	
                 

              
	
                ARTICLE
                  VII.

              	
                DOCUMENTS
                  TO BE DELIVERED

              	 	
                24

              
	
                7.1.

              	
                Documents
                  to be Delivered by the Seller

              	 	
                24

              
	
                7.2.

              	
                Documents
                  to be Delivered by the Purchaser

              	 	
                24

              
	 	 	 	 
	
                ARTICLE
                  VIII.

              	
                NON-COMPETITION,
                  NON-SOLICITATION

              	 	
                24

              
	
                8.1.

              	
                Non-competition

              	 	
                24

              
	
                8.2.

              	
                Non-solicitation

              	 	
                25

              
	
                8.3.

              	
                Exception

              	 	
                25

              
	 	 	 	 
	
                ARTICLE
                  IX.

              	
                INDEMNIFICATION

              	 	
                25

              
	
                9.1.

              	
                Indemnification

              	 	
                25

              
	
                9.2.

              	
                Limitations
                  on Indemnification

              	 	
                26

              
	
                9.3.

              	
                Indemnification
                  Procedures

              	 	
                27

              

      

       

      
        
          
          

        

        
          -iii-

          
            

          

        

        
          
          

        

      

       

      
        	
                ARTICLE
                  X.

              	
                MISCELLANEOUS

              	 	
                28

              
	
                10.1.

              	
                Payment
                  of Sales, Use or Similar Taxes

              	 	
                28

              
	
                10.2.

              	
                Survival
                  of Representations and Warranties

              	 	
                28

              
	
                10.3.

              	
                Expenses

              	 	
                28

              
	
                10.4.

              	
                Specific
                  Performance

              	 	
                28

              
	
                10.5.

              	
                Further
                  Assurances

              	 	
                28

              
	
                10.6.

              	
                Submission
                  to Jurisdiction; Consent to Service of Process

              	 	
                28

              
	
                10.7.

              	
                Entire
                  Agreement; Amendments and Waivers

              	 	
                29

              
	
                10.8.

              	
                Table
                  of Contents and Headings

              	 	
                29

              
	
                10.9.

              	
                Notices

              	 	
                29

              
	
                10.10.

              	
                Severability

              	 	
                30

              
	
                10.11.

              	
                Binding
                  Effect; Assignment

              	 	
                30

              

      

    

     

    
      
        
        

      

      
        -iv-

        
          

        

      

      
        
        

      

    

    ASSET
      PURCHASE AGREEMENT

     

    ASSET
      PURCHASE AGREEMENT, dated as of April 8, 2007 (the “Agreement”), between Titan
      Wireless RM, Inc., a Delaware corporation (the “Purchaser”), Ready Mobile, LLC,
      an Iowa limited liability company (the “Seller”), and DC Cellular Ventures, LLC;
      Asper Eliason Partnership; Eliason Management Company, Inc.; and Jay Eliason
      (the “Owners”).

     

    WITNESSETH:

     

    WHEREAS,
      subject to the terms and conditions hereof, Seller desires to sell, transfer
      and
      assign to Purchaser, and Purchaser desires to purchase from Seller, all of
      the
      properties, rights and assets constituting the business of Seller, which is
      engaged in the creation, marketing, and distribution of prepaid telephone
      products for the wireless markets (the “Business”); and

     

    NOW,
      THEREFORE, in consideration of the premises and the mutual covenants and
      agreements hereinafter contained, the parties hereby agree as
      follows:

     

    ARTICLE
      I.

    PURCHASE
      AND SALE OF ASSETS.

     

    1.1.  Sale
      of Assets.
      Seller
      agrees to sell, assign, transfer and deliver to Purchaser, and Purchaser agrees
      to purchase from Seller, all of Seller’s right, title and interest in and to all
      of the properties, assets and business of the Business, of every kind and
      description, tangible and intangible, real, personal or mixed, and wherever
      located, but excluding the Excluded Assets, including, without limitation,
      the
      following:

     

    (a) Equipment.
      All
      assets of any kind or nature, including all fixed assets, equipment, furniture,
      fixtures, leasehold improvements located within the Seller’s office located at
      955 Kacena Road Suite A, Hiawatha, Iowa 52233, equipment co-located at 155
      North
      400 W, Salt Lake City, Utah, inventory, office materials, software, supplies
      and
      other tangible personal property of every kind and description owned by Seller
      and used or held for use in connection with the Business, all as set forth
      on
      Schedule 1.1(a) attached hereto (“Equipment”);

     

    (b) Contracts.
      All of
      the rights of Seller under, and interest of Seller in and to, all contracts
      relating to the Business, a true, correct and complete list of which contracts
      is attached hereto as Schedule 1.1(b) (“Contracts”);

     

    (c) Intellectual
      Property.
      All of
      Seller’s Intellectual Property relating to the Business, as set forth on
      Schedule 1.1(c) attached hereto;

     

    (d) Goodwill.
      All of
      the goodwill of Seller in, and the going concern value of, the Business, and
      all
      of the business and customer lists and accounts, proprietary information,
      marketing materials and trade secrets related to the Business; 

     

    (e) Claims.
      All
      claims, entitlements, rebates, refunds, settlements, awards or other rights
      related to any Assets or the operation of the Business prior to the Closing
      Date; and

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    (f) Records.
      All of
      Seller’s customer logs, location files and records, and other business files and
      records, in each case relating to the Business.

     

    The
      assets, properties and business of Seller being sold to and purchased by
      Purchaser under this Section 1.1 are referred to herein collectively as the
      “Assets.”

     

    1.2.  Excluded
      Assets.
      There
      shall be excluded from the Assets and retained by Seller, (the “Excluded
      Assets”)
      all
      accounts receivable, all unbilled revenue and all assets identified on Schedule
      1.2 attached hereto, and all other assets of Seller which are not used or held
      for use in connection with the Business or otherwise necessary to the operation
      of the Business; and

     

    1.3.  Assumed
      Liabilities; Excluded Liabilities; Employees.

     

    (a) Assumed
      Liabilities.
      Purchaser shall accept and assume, and shall become and be fully liable and
      responsible for, and other than as expressly set forth herein Seller shall
      have
      no further liability or responsibility for or with respect to, (i) liabilities
      and obligations arising out of events occurring on and after the Closing Date
      related to Purchaser’s ownership of the Assets and Purchaser’s operation of the
      Business after the consummation of the transactions contemplated herein; (ii)
      all obligations and liabilities of Seller which are to be performed after the
      Closing Date arising under the Contracts; and (iii) the liabilities identified
      on Schedule 1.3(a) attached hereto (collectively with the assumed lease
      described in Section 1.3 (d), the “Assumed Liabilities”). The assumption of the
      Assumed Liabilities by Purchaser hereunder shall not enlarge any rights of
      third
      parties under contracts or arrangements with Purchaser or Seller or any of
      their
      respective affiliates or subsidiaries. 

     

    (b) Excluded
      Liabilities.
      It is
      expressly understood that, except for the Assumed Liabilities, Purchaser shall
      not assume, pay or be liable for any liability or obligation of Seller of any
      kind or nature at any time existing or asserted, whether, known, unknown, fixed,
      contingent or otherwise, not specifically assumed herein by Purchaser, and
      any
      liability or obligation relating to, resulting from or arising out of (i) the
      Excluded Assets, (ii) the employees of the Business or (iii) any fact existing
      or event occurring prior to, or relating to the operation of the Business prior
      to, the date hereof.

     

    (c) Employees,
      Wages and Benefits.

     

    (i) Seller
      shall terminate or reassign all of its employees related to the Business
      effective as of the Closing Date. Effective as of the Closing Date Purchaser
      shall enter into employment agreements with Dennis Henderson, Fred Haumesser
      and
      Glen Jasper substantially in the form attached hereto as Exhibit B. Purchaser
      shall not assume or have any obligations or liabilities with respect to other
      such employees or such terminations, including, without limitation, any
      severance obligation. 

     

    (ii) Purchaser
      specifically reserves the right, on or after the date hereof, to employ or
      reject any of Seller’s employees (other than Dennis Henderson, Fred Haumesser,
      Glen Jasper) or other applicants in its sole and absolute discretion. Nothing
      in
      this Agreement shall be construed as a commitment or obligation of Purchaser
      to
      accept for employment, or otherwise continue the employment of, any of Seller’s
      employees, other than as expressly set forth herein, and no employee shall
      be a
      third party beneficiary of this Agreement.

     

    
      
        
        

      

      
        -2-

        
          

        

      

      
        
        

      

    

     

    (iii) Seller
      shall pay all wages, salaries, commissions, and the cost of all fringe benefits
      provided to its employees which shall have become due for work performed as
      of
      and through the date hereof, and Seller shall collect and pay all Taxes in
      respect of such wages, salaries, commissions and benefits.

     

    (iv) Seller
      acknowledges and agrees that Purchaser shall not acquire any rights or interests
      of Seller in, or assume or have any obligations or liabilities of Seller under,
      any benefit plans maintained by Seller, or for the benefit of any employees
      of
      Seller, including, without limitation, obligations for severance. 

     

    (d) Assumed
      Lease.
      Purchaser shall assume all lease obligations as described in Schedule
      1.3(d).

     

    1.4 Purchase
      Price.
      (a) The
      consideration for the Assets shall be fifty-five
      (55%) percent of earnings before interest, depreciation, taxes and amortization
      (EBITDA) for the first thirty-six (36) months subsequent to the Closing, payable
      monthly in arrears. The EBITDA of the Business will be calculated by subtracting
      (1) 58% of recurring revenue from refill pins for costs associated with the
      Sprint MVNO cost of goods sold, (2) 16.0% for months 1-12, 15.5% for months
      13-24 and 15% for months 25-36 of all recurring revenue from refill pins for
      variable costs of goods sold associated with refill pin revenue including but
      not limited to USF, billing, customer service, printing, shipping and
      commissions, (3) 110% of recurring revenue from handset sales (4) $150,000
      per
      month for months 1-6, $160,000 per month for months 7-12, $170,000 per month
      for
      months 13-24 and $180,000 per month for months 25-36 for fixed charges and
      (5)
      any amortization of MDF contracts for the applicable periods from recurring
      revenue derived from the Retail Chain Channel. For purposes of this EBITDA
      computation the business of the Seller shall be the wireless business done
      in
      the Retail Chain Channel. To further define the channel of the Seller, it
      represents wireless sales in retail chains that have more than 25 locations.
      For
      purposes of this EBITDA computation the amortization of MDF contracts shall
      be
      the amortization of funds paid to retailers in the Retail Chain Channel by
      the
      Buyer either as part of the assumption of liabilities in this agreement or
      funds
      paid to acquire contracts during the earn out period and will not include any
      amounts paid by the Seller.  The amortization will evenly spread out
      monthly over the life of the contract and for contracts acquired in months
      25-36
      the amortization will be based on a minimum term of two years.

     

    (b) Until
      such time as the payments described in (i) and (ii) below have totaled the
      amount set forth in Schedule 1.4 (a) as attached, 40% of the payment for each
      of
      the 36 months shall be delivered to Seller by wire transfer on or before the
      15th day following the last day of each such month and 60% of the payment for
      each of the 36 months shall either: (i) be delivered to Sprint by wire transfer
      on or before the 15th day following the last day of such month in satisfaction
      of amounts due to Sprint that occurred prior to the acquisition or (ii) used
      to
      offset amounts paid to Sprint by Purchaser or any of its affiliates in
      connection with that certain transfer agreement as attached in Exhibit 1.4(b).
      On or before the 15th day following the last day of each month, Purchaser shall
      deliver to Seller proof of any and all payments to Sprint in form reasonably
      satisfactory to Seller. After the 60% payments have totaled the amount set
      forth
      in Schedule 1.4(a), 100% of the payment due shall be delivered to Seller by
      wire
      transfer on or before the 15th day following the last day of each such month.
      Wire transfer instructions are attached hereto as Schedule 1.4(b), which
      instructions may be modified from time to time by the Seller and or Sprint
      as
      appropriate, upon 5 business days advance written notice to
      Purchaser

     

    
      
        
        

      

      
        -3-

        
          

        

      

      
        
        

      

    

    

    (c) Purchaser
      shall prepare and deliver to Seller a computation of actual EBITDA for the
      Business for each month, which computation shall be delivered to Seller on
      or
      before the 15th day following the last day of each such month. Purchaser shall
      provide Seller with full access at all reasonable times to the books, records,
      work papers, information and employees of Purchaser applicable to the Business,
      and shall provide information to and cooperate with Seller in each case as
      necessary or useful for review of each EBITDA computation. 

    

    (d) Seller
      shall have 30 days after receipt of each monthly EBITDA computation to express
      any objections. The respective EBITDA computation shall become final, binding
      and conclusive unless Seller has given written notice of its disagreement (the
      "Disagreement
      Notice")
      prior
      to expiration of such 30-day period, which Disagreement Notice shall specify
      in
      reasonable detail the nature of any disagreement so asserted. Seller and
      Purchaser and their authorized representatives agree to meet and confer in
      good
      faith to resolve any such dispute within 10 days of the delivery of such
      Disagreement Notice. In the event that the parties cannot agree on the aggregate
      amount of the Purchase Price within 30 days after the expiration of the first
      thirty-six (36) months subsequent to the Closing, the parties shall jointly
      retain Grant Thornton LLP accounting firm in Kansas City, Missouri (the
      "Accounting
      Arbitrator") to
      investigate and resolve disputed items. Each party agrees to execute a
      reasonable engagement letter if requested by the Accounting Arbitrator. Seller
      and Purchaser will each make available to the Accounting Arbitrator interviews
      with such individuals and such information, books and records as may be
      reasonably required by the Accounting Arbitrator to issue its written report.
      Nothing herein shall be construed to require the Accounting Arbitrator to follow
      the rules or procedures of any arbitration association. The Accounting
      Arbitrator shall be authorized to investigate and resolve only those items
      applicable to matters that are disputed by the parties.

    

    1.5.  Purchase
      Price Allocation.
      Purchaser and Seller shall mutually agree on the allocation of the Purchase
      Price. Such allocation shall be binding upon Purchaser and Seller for all
      purposes (including financial accounting purposes, financial and regulatory
      reporting purposes and tax purposes). Purchaser and Seller each further agrees
      to file its Federal income tax returns and its other tax returns reflecting
      such
      allocation, Form 8594 and any other reports required by Section 1060 of the
      Internal Revenue Code of 1986, as amended (the “Code”).

     

    1.6.  Records
      and Contracts.
      Seller
      shall deliver to Purchaser all of the Contracts, with such assignments thereof
      and consents to assignments as are necessary to assure Purchaser of the full
      benefit of the same. Seller shall also deliver to Purchaser all of Seller’s
      files and records constituting Assets.

     

    1.7.  Further
      Assurances.
      Seller
      shall, from time to time after the consummation of the transactions contemplated
      herein, at the request of Purchaser and without further consideration, execute
      and deliver further instruments of transfer and assignment and take such other
      action as Purchaser may reasonably require to more effectively transfer and
      assign to, and vest in, Purchaser the Assets free and clear of all
      Liens.

     

    
      
        
        

      

      
        -4-

        
          

        

      

      
        
        

      

    

     

    1.8.  Sales
      and Transfer Taxes.
      All
      sales, transfer, use, recordation, documentary, stamp, excise taxes, personal
      property taxes, fees and duties (including any real estate transfer taxes)
      under
      applicable law incurred in connection with this Agreement or the transactions
      contemplated hereby will be borne and paid by Purchaser.

     

    1.9.  Transfer
      of Subject Assets.
      Seller
      shall deliver or cause to be delivered to Purchaser good and sufficient
      instruments of transfer transferring to Purchaser title to all of the Assets,
      together with all required consents. Such instruments of transfer (a) shall
      contain appropriate warranties and covenants which are usual and customary
      for
      transferring the type of property involved under the laws of the jurisdictions
      applicable to such transfers, (b) shall be in form and substance reasonably
      satisfactory to Purchaser and its counsel, (c) shall effectively vest in
      Purchaser good and marketable title to all of the Assets free and clear of
      all
      Liens (as hereafter defined), and (d) where applicable, shall be accompanied
      by
      evidence of the discharge of all Liens against the Assets.

     

    ARTICLE
      II.

    CLOSING
      AND TERMINATION

     

    2.1.  Closing
      Date.
      Subject
      to the satisfaction of the conditions set forth in Sections 6.1 and 6.2 hereof
      (or the waiver thereof by the party entitled to waive that condition), the
      closing of the sale and purchase of the Assets provided for in Section 1.1
      hereof (the “Closing”) shall take place at the offices of Sichenzia Ross
      Friedman Ference LLP located at 1065 Avenue of the Americas, 21st Floor, New
      York, NY 10018 (or at such other place as the parties may mutually agree upon)
      on May 9, 2007. The date on which the Closing shall be held is referred to
      in
      this Agreement as the “Closing Date”

     

    2.2.  Termination
      of Agreement. This
      Agreement may be terminated prior to the Closing as follows:

     

    (a) at
      the
      election of the Seller or the Purchaser on or after May 15, 2007, if the Closing
      shall not have occurred by the close of business on such date, provided that
      the
      terminating party is not in default of any of its obligations hereunder;

     

    (b) by
      mutual
      written consent of the Seller and the Purchaser; or

     

    (c) by
      the
      Seller or the Purchaser if there shall be in effect a final nonappealable order
      of a court, government or governmental agency or body of competent jurisdiction
      (“Governmental Body”) of competent jurisdiction restraining, enjoining or
      otherwise prohibiting the consummation of the transactions contemplated hereby;
      it being agreed that the parties hereto shall promptly appeal any adverse
      determination which is not nonappealable (and pursue such appeal with reasonable
      diligence).

     

    2.3.  Procedure
      Upon Termination.
      In the
      event of termination and abandonment by the Purchaser or the Seller, or both,
      pursuant to Section 2.2 hereof, written notice thereof shall forthwith be given
      to the other party or parties, and this Agreement shall terminate, and the
      purchase of the Assets hereunder shall be abandoned, without further action
      by
      the Purchaser or the Seller. If this Agreement is terminated as provided herein
      each party shall redeliver all documents, work papers and other material of
      any
      other party relating to the transactions contemplated hereby, whether so
      obtained before or after the execution hereof, to the party furnishing the
      same.

     

    
      
        
        

      

      
        -5-

        
          

        

      

      
        
        

      

    

     

    2.4.  Effect
      of Termination.
      In the
      event that this Agreement is validly terminated as provided herein, then each
      of
      the parties shall be relieved of their duties and obligations arising under
      this
      Agreement after the date of such termination and such termination shall be
      without liability to the Purchaser or the Seller; provided, however, that
      nothing in this Section 2.4 shall relieve the Purchaser or the Seller of any
      liability for a breach of this Agreement.

     

    ARTICLE
      III.

    REPRESENTATIONS
      AND WARRANTIES OF THE SELLER AND THE OWNERS

     

    The
      Seller and the Owners, jointly and severally hereby represent and warrant to
      the
      Purchaser that:

     

    3.1.  Organization
      and Good Standing.
      The
      Seller is a limited liability company duly organized, validly existing and
      in
      good standing under the laws of the jurisdiction of its organization as set
      forth above and has all requisite company power and authority to own, lease
      and
      operate its properties and to carry on its business as now conducted. The Seller
      is duly qualified or authorized to do business as a foreign limited liability
      company and is in good standing under the laws of each jurisdiction in which
      it
      owns or leases real property and each other jurisdiction in which the conduct
      of
      its business or the ownership of its properties requires such qualification
      or
      authorization, except where failure to be so qualified would not have a material
      adverse effect on the business, assets or financial condition of the Seller
      taken as a whole (“Material Adverse Effect”). 

     

    3.2.  Authorization
      of Agreement.
      The
      Seller and the Owners have all requisite corporate or personal, as the case
      may
      be, power, authority and legal capacity to execute and deliver this Agreement,
      and each other agreement, document, or instrument or certificate contemplated
      by
      this Agreement or to be executed by the Seller or the Owners in connection
      with
      the consummation of the transactions contemplated by this Agreement (together
      with this Agreement, the “Seller Documents”), and to consummate the transactions
      contemplated hereby and thereby. This Agreement has been, and each of the Seller
      Documents will be at or prior to the Closing, duly and validly executed and
      delivered by the Seller or the Owners and (assuming the due authorization,
      execution and delivery by the other parties hereto and thereto) this Agreement
      constitutes, and each of the Seller Documents when so executed and delivered
      will constitute, legal, valid and binding obligations of the Seller, enforceable
      against the Seller or the Owners, as applicable, in accordance with their
      respective terms, subject to applicable bankruptcy, insolvency, reorganization,
      moratorium and similar laws affecting creditors’ rights and remedies generally,
      and subject, as to enforceability, to general principles of equity, including
      principles of commercial reasonableness, good faith and fair dealing (regardless
      of whether enforcement is sought in a proceeding at law or in
      equity).

     

    3.3.  Ownership
      of Seller.
      The
      Owners collectively own 57.5807% of the interests of the Seller, free and clear
      of any and all liens, charges or encumbrances or any kind or
      nature.

     

    3.4.  No
      Subsidiaries.
      The
      Seller has no subsidiaries. 

     

    
      
        
        

      

      
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    3.5.  Conflicts;
      Consents of Third Parties. 

     

    (a) Except
      as
      set forth in Schedule 3.5(a), none of the execution and delivery by the Seller
      or Owners of this Agreement and the Seller Documents, the consummation of the
      transactions contemplated hereby or thereby, or compliance by the Seller with
      any of the provisions hereof or thereof will (i) conflict with, or result in
      the
      breach of, any provision of the certificate or formation of the Seller; (ii)
      conflict with, violate, result in the breach or termination of, or constitute
      a
      default under any note, bond, mortgage, indenture, license, agreement or other
      instrument or obligation to which the Seller or any Owner is a party or by
      which
      any of them or any of their respective properties or assets is bound; (iii)
      violate any statute, rule, regulation, order or decree of any governmental
      body
      or authority by which the Seller is bound; or (iv) result in the creation of
      any
      Lien upon the properties or assets of the Seller except, in case of clauses
      (ii), (iii) and (iv), for such violations, breaches or defaults as would not,
      individually or in the aggregate, have a Material Adverse Effect.

     

    (b) No
      consent, waiver, approval, order, permit or authorization of, or declaration
      or
      filing with, or notification to, any person or Governmental Body is required
      on
      the part of the Seller, the Seller in connection with the execution and delivery
      of this Agreement or the Seller Documents, or the compliance by the Seller
      as
      the case may be, with any of the provisions hereof or thereof.

     

    3.6.  Ownership
      and Transfer of Assets.
      Except
      as set forth on Schedule 3.6, Seller has good and marketable title to all of
      the
      Assets free and clear of all mortgages, pledges, security interests, charges,
      liens, restrictions and encumbrances of any kind (collectively, “Liens”)
      whatsoever. Upon the sale, assignment, transfer and delivery of the Assets
      to
      the Purchaser hereunder and under the Seller Documents, there will be vested
      in
      the Purchaser good, marketable and indefeasible title to the Assets, free and
      clear of all Liens. The Assets include all of the assets and properties (i)
      held
      for use by Seller to conduct the Business as presently conducted and (ii)
      necessary for Purchaser to operate the Business in the same manner as such
      business is currently operated by Seller. All of the tangible Assets are in
      good
      repair, have been well maintained and are in good operating condition, do not
      require any material modifications or repairs, and comply in all material
      respects with applicable laws, ordinances and regulations, ordinary wear and
      tear excepted. 

     

    3.7.  Financial
      Statements.
      The
      Seller has delivered or caused to be delivered to the Purchaser copies of (i)
      the balance sheets of the Seller as at December 31, 2006 and 2005 and the
      related statements of income of the Seller for the years then ended (such
      statements are referred to herein as the “Seller Financial Statements”). Each of
      the Seller Financial Statements is complete and correct in all material
      respects, will be prepared in conformity with the practices consistently applied
      by the Seller without modification of the accounting principles used in the
      preparation thereof and will present fairly the financial position, results
      of
      operations of the Seller as at the dates and for the periods indicated. For
      the
      purposes hereof, the unaudited but reviewed consolidated balance sheet of the
      Seller as at December 31, 2006 is referred to as the “Seller Balance Sheet” and
      December 31, 2006 is referred to as the “Seller Balance Sheet Date”. 

     

    
      
        
        

      

      
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    3.8.  Absence
      of Certain Developments.
      Except
      as expressly contemplated by this Agreement or as set forth on Schedule 3.8,
      since the date of the Seller Balance Sheet Date:

     

    (i) there
      has
      not been an event which had a Material Adverse Effect nor has there occurred
      any
      event which, to the knowledge of the Seller, is reasonably likely to result
      in a
      Material Adverse Effect;

     

    (ii) there
      has
      not been any damage, destruction or loss, whether or not covered by insurance,
      with respect to the property and assets of the Seller having a replacement
      cost
      of more than $5,000 for any single loss or $20,000 for all such
      losses;

     

    (iii) there
      has
      not been any declaration, setting aside or payment of any distribution in
      respect of any membership interest of the Seller or any repurchase, redemption
      or other acquisition by the Seller of any outstanding membership, or other
      ownership interest in, the Seller;

     

    (iv) the
      Seller has not awarded or paid any bonuses to employees of the Seller with
      respect to the fiscal year ended 2006, except to the extent accrued on the
      Seller Balance Sheet or entered into any employment, deferred compensation,
      severance or similar agreement (nor amended any such agreement) or agreed to
      increase the compensation payable or to become payable by it to any of the
      Seller’s directors, officers, employees, agents or representatives or agreed to
      increase the coverage or benefits available under any severance pay, termination
      pay, vacation pay, company awards, salary continuation for disability, sick
      leave, deferred compensation, bonus or other incentive compensation, insurance,
      pension or other employee benefit plan, payment or arrangement made to, for
      or
      with such directors, officers, employees, agents or representatives (other
      than
      normal increases in the ordinary course of business consistent with past
      practice and that in the aggregate have not resulted in a material increase
      in
      the benefits or compensation expense of the Seller or to provide incentives
      to
      increase sales of products in the Business);

     

    (v) there
      has
      not been any change by the Seller in accounting or Tax reporting principles,
      methods or policies;

     

    (vi) the
      Seller has not entered into any transaction or Contract or conducted its
      business other than in the ordinary course consistent with past
      practice;

     

    (vii) the
      Seller has not failed to promptly pay and discharge current liabilities except
      where disputed in good faith by appropriate proceedings;

     

    (viii) the
      Seller has not made any loans, advances or capital contributions to, or
      investments in, any Person or paid any fees or expenses to the Seller or any
      Affiliate of the Seller;

     

    (ix) the
      Seller has not mortgaged, pledged or subjected to any Lien any of its assets,
      or
      acquired any assets or sold, assigned, transferred, conveyed, leased or
      otherwise disposed of any assets of the Seller, except for assets acquired
      or
      sold, assigned, transferred, conveyed, leased or otherwise disposed of in the
      ordinary course of business consistent with past practice;

     

    
      
        
        

      

      
        -8-

        
          

        

      

      
        
        

      

    

     

    (x) the
      Seller has not discharged or satisfied any Lien, or paid any obligation or
      liability (fixed or contingent), except in the ordinary course of business
      consistent with past practice and which, in the aggregate, would not be material
      to the Seller;

     

    (xi) the
      Seller has not canceled or compromised any debt or claim or amended, canceled,
      terminated, relinquished, waived or released any Contract or right except in
      the
      ordinary course of business consistent with past practice and which, in the
      aggregate, would not be material to the Seller;

     

    (xii) the
      Seller has not made or committed to make any capital expenditures or capital
      additions or betterments in excess of $25,000 individually or $100,000 in the
      aggregate;

     

    (xiii) the
      Seller has not instituted or settled any material legal proceeding;
      and

     

    (xiv) the
      Seller has not agreed to do anything set forth in this Section 3.8.

     

    3.9.  Taxes.

     

    (a) Except
      as
      set forth on Schedule 3.9, to the best of the Seller’s knowledge, (A) all Tax
      returns required to be filed by or on behalf of the Seller have been properly
      prepared and duly and timely filed with the appropriate taxing authorities
      in
      all jurisdictions in which such Tax returns are required to be filed (after
      giving effect to any valid extensions of time in which to make such filings),
      and all such Tax returns were true, complete and correct in all material
      respects; (B) all Taxes payable by or on behalf of the Seller or in respect
      of
      its income, assets or operations have been fully and timely paid, and adequate
      reserves or accruals for Taxes have been provided in the Seller Balance Sheet
      with respect to any period for which Tax Returns have not yet been filed or
      for
      which Taxes are not yet due and owing; and (C) the Seller has not executed
      or
      filed with the Internal Revenue Service (the “IRS”) or any other taxing
      authority any agreement, waiver or other document or arrangement extending
      or
      having the effect of extending the period for assessment or collection of Taxes
      (including, but not limited to, any applicable statute of limitation), and
      no
      power of attorney with respect to any Tax matter is currently in force. “Tax or
      Taxes” means all federal, state, local or other taxes or similar governmental
      charges, fees, levies or assessments.

     

    (b) The
      Seller has complied in all material respects with all applicable laws (as
      defined in Section 3.18), rules and regulations relating to the payment and
      withholding of Taxes and has duly and timely withheld from employee salaries,
      wages and other compensation and has paid over to the appropriate taxing
      authorities all amounts required to be so withheld and paid over for all periods
      under all Laws.

     

    (c) Purchaser
      has received complete copies of (A) all federal, state, local and foreign income
      or franchise Tax Returns of the Seller relating to the taxable periods since
      2004 and (B) any audit report issued within the last three years relating to
      any
      material Taxes due from or with respect to the its income, assets or operations.
      All income and franchise Tax returns filed by or on behalf of the Seller for
      the
      taxable years ended on the respective dates set forth on Schedule 3.9 have
      been
      examined by the relevant taxing authority or the statute of limitations with
      respect to such Tax Returns has expired.

     

    
      
        
        

      

      
        -9-

        
          

        

      

      
        
        

      

    

     

    (d) Schedule
      3.9 lists all material types of Taxes paid and material types of Tax returns
      filed by or on behalf of the Seller. Except as set forth on Schedule 3.9 no
      claim has been made by a taxing authority in a jurisdiction where the Seller
      does not file Tax Returns such that it is or may be subject to taxation by
      that
      jurisdiction. 

     

    (e) Except
      as
      set forth on Schedule 3.9, all deficiencies asserted or assessments made as
      a
      result of any examinations by the IRS or any other taxing authority of the
      Tax
      Returns of or covering or including the Seller that are owed by the Seller
      have
      been fully paid, and there are no other audits or investigations by any taxing
      authority in progress, nor has the Seller received any written notice from
      any
      taxing authority that it intends to conduct such an audit or investigation.
      No
      issue has been raised in writing by a federal, state, local or foreign taxing
      authority in any current or prior examination which, by application of the
      same
      or similar principles, could reasonably be expected to result in a proposed
      deficiency for any subsequent taxable period.

     

    (f) Except
      as
      set forth on Schedule 3.9, the Seller has not (A) agreed to or is not required
      to make any adjustments pursuant to Section 481(a) of the Code or any similar
      provision of state, local or foreign law by reason of a change in accounting
      method initiated by the Seller or has any knowledge that the IRS has proposed
      any such adjustment or change in accounting method, or has any application
      pending with any taxing authority requesting permission for any changes in
      accounting methods that relate to the business or operations of the Seller,
      (B)
      executed or entered into a closing agreement pursuant to Section 7121 of the
      Code or any predecessor provision thereof or any similar provision of state,
      local or foreign law with respect to the Seller, or (C) requested any extension
      of time within which to file any Tax Return, which Tax Return has since not
      been
      filed within the period of limitations.

     

    (g) No
      property owned by the Seller is (i) property required to be treated as being
      owned by another Person pursuant to the provisions of Section 168(f)(8) of
      the
      Internal Revenue Code of 1954, as amended and in effect immediately prior to
      the
      enactment of the Tax Reform Act of 1986, (ii) constitutes “tax-exempt use
      property” within the meaning of Section 168(h)(1) of the Code or (iii) is
“tax-exempt bond financed property” within the meaning of Section 168(g) of the
      Code.

     

    (h) The
      Seller is not a foreign person within the meaning of Section 1445 of the
      Code.

     

    (i) The
      Seller is not a party to any tax sharing or similar agreement or arrangement
      (whether or not written) pursuant to which it will have any obligation to make
      any payments after the Closing.

     

    (j) There
      is
      no contract, agreement, plan or arrangement covering any person that,
      individually or collectively, could give rise to the payment of any amount
      that
      would not be deductible by the Purchaser, the Affiliates or their respective
      affiliates by reason of Section 280G of the Code, or would constitute
      compensation in excess of the limitation set forth in Section 162(m) of the
      Code.

     

    (k) The
      Seller is not subject to any private letter ruling of the IRS or comparable
      rulings of other taxing authorities.

     

    
      
        
        

      

      
        -10-

        
          

        

      

      
        
        

      

    

     

    (l) There
      are
      no liens as a result of any unpaid Taxes upon any of the assets of the
      Seller.

     

    (m) Except
      as
      set forth on Schedule 3.9, the Seller has no elections in effect for federal
      income tax purposes under Sections 108, 168, 441, 463, 472, 1017, 1033 or 4977
      of the Code.

     

    (n) The
      Seller has never owned any Subsidiaries and has never been a member of any
      consolidated, combined or affiliated group of corporations for any Tax
      purposes.

     

    3.10.  Real
      Property.

     

    (a) Seller
      does not own any interest in any real property. Schedule 3.10(a) sets forth
      a
      complete list of all real property and interests in real property leased by
      the
      Seller (individually, a “Real Property Lease” and the real properties specified
      in such leases being referred to herein individually as a “Seller Property” and
      collectively as the “Seller Properties”) as lessee or lessor. The Seller
      Property constitutes all interests in real property currently used or currently
      held for use in connection with the Business of the Seller and which are
      necessary for the continued operation of the Business of the Seller as the
      Business is currently conducted. The Seller has a valid and enforceable
      leasehold interest under each of the Real Property Leases, subject to applicable
      bankruptcy, insolvency, reorganization, moratorium and similar laws affecting
      creditors’ rights and remedies generally and subject, as to enforceability, to
      general principles of equity (regardless of whether enforcement is sought in
      a
      proceeding at law or in equity), and Seller has not received any written notice
      of any default or event that with notice or lapse of time, or both, would
      constitute a default by the Seller under any of the Real Property Leases. All
      of
      the Seller Property, buildings, fixtures and improvements thereon owned or
      leased by the Seller are in good operating condition and repair (subject to
      normal wear and tear). The Seller has delivered or otherwise made available
      to
      the Purchaser true, correct and complete copies of the Real Property Leases,
      together with all amendments, modifications or supplements, if any,
      thereto.

     

    (b) The
      Seller has all material certificates of occupancy and Permits of any
      Governmental Body necessary or useful for the current use and operation of
      each
      Seller Property, and the Seller has fully complied with all material conditions
      of the Permits applicable to it. No default or violation, or event that with
      the
      lapse of time or giving of notice or both would become a default or violation,
      has occurred in the due observance of any Permit. 

     

    (c) There
      does not exist any actual or, to the best knowledge of the Seller, threatened
      or
      contemplated condemnation or eminent domain proceedings that affect any Seller
      Property or any part thereof, and the Seller has not received any notice, oral
      or written, of the intention of any Governmental Body or other Person to take
      or
      use all or any part thereof.

     

    (d) The
      Seller has not received any written notice from any insurance company that
      has
      issued a policy with respect to any Seller Property requiring performance of
      any
      structural or other repairs or alterations to such Seller Property.

     

    
      
        
        

      

      
        -11-

        
          

        

      

      
        
        

      

    

     

    (e) The
      Seller does not own or hold, and is not obligated under or a party to, any
      option, right of first refusal or other contractual right to purchase, acquire,
      sell, assign or dispose of any real estate or any portion thereof or interest
      therein.

     

    3.11.  Tangible
      Personal Property.

     

    (a) Schedule
      3.11(a) sets forth all leases of personal property (“Personal Property Leases”)
      involving annual payments in excess of $5,000 relating to personal property
      used
      in the business of the Seller or to which the Seller is a party or by which
      the
      properties or assets of the Seller is bound. The Seller has delivered or
      otherwise made available to the Purchaser true, correct and complete copies
      of
      the Personal Property Leases, together with all amendments, modifications or
      supplements thereto. 

     

    (b) The
      Seller has a valid leasehold interest under each of the Personal Property Leases
      under which it is a lessee, subject to applicable bankruptcy, insolvency,
      reorganization, moratorium and similar laws affecting creditors’ rights and
      remedies generally and subject, as to enforceability, to general principles
      of
      equity (regardless of whether enforcement is sought in a proceeding at law
      or in
      equity), and there is no default under any Personal Property Lease by the
      Seller, or, to the best knowledge of the Seller, by any other party thereto,
      and
      no event has occurred that with the lapse of time or the giving of notice or
      both would constitute a default thereunder.

     

    (c) The
      Seller has good and marketable title to all of the items of tangible personal
      property reflected in the Seller Balance Sheet (except as sold or disposed
      of
      subsequent to the date thereof in the ordinary course of business consistent
      with past practice), free and clear of any and all liens other than as set
      forth
      on Schedule 3.11. All such items of tangible personal property which,
      individually or in the aggregate, are material to the operation of the business
      of the Seller are in good condition and in a state of good maintenance and
      repair (ordinary wear and tear excepted) and are suitable for the purposes
      used.

     

    (d) All
      of
      the items of tangible personal property used by the Seller under the Personal
      Property Leases are in good condition and repair (ordinary wear and tear
      excepted) and are suitable for the purposes used. 

     

    3.12.  Intangible
      Property.
      Schedule
      3.12 contains a complete and correct list of each patent, trademark, trade
      name,
      service mark and copyright owned or used by the Seller as well as all
      registrations thereof and pending applications therefor, and each license or
      other agreement relating thereto. Except as set forth on Schedule 3.12, each
      of
      the foregoing is owned by the party shown on such Schedule as owning the same,
      free and clear of all mortgages, claims, liens, security interests, charges
      and
      encumbrances and is in good standing and not the subject of any challenge.
      There
      have been no claims made and the Seller has not received any notice or otherwise
      knows or has reason to believe that any of the foregoing is invalid or conflicts
      with the asserted rights of others. The Seller possesses, owns or licenses
      all
      patents, patent licenses, trade names, trademarks, service marks, brand marks,
      brand names, copyrights, know-how, formulate and other proprietary and trade
      rights necessary for the conduct of its business as now conducted, not subject
      to any restrictions and without any known conflict with the rights of others
      and
      has not forfeited or otherwise relinquished any such patent, patent license,
      trade name, trademark, service mark, brand mark, brand name, copyright,
      know-how, formulate or other proprietary right necessary for the conduct of
      its
      business as conducted on the date hereof. The Seller is not under any obligation
      to pay any royalties or similar payments in connection with any license to
      any
      Affiliate thereof. As used in this Agreement, “Affiliate” means, with respect to
      any person, any other person directly or indirectly controlling, controlled
      by
      or under common control with such person and for purposes of individuals,
      Affiliates would include an individual’s spouse and minor children.

     

    
      
        
        

      

      
        -12-

        
          

        

      

      
        
        

      

       

    

    Notwithstanding
      the foregoing, Seller’s rights in the trademark “MOJO MOBILE”, the subject of
      United States Trademark Application No. 78/722455, have been the subject of
      a
      claim asserted by WorldGate Service, Inc. of Trevose, Pennsylvania. Seller
      has
      fully disclosed the matter to Purchaser, and subject to compensation paid to
      Purchaser of Seller of $10,000 USD, the sufficiency of which is agreed to be
      adequate, Purchaser agrees to assume full responsibility for the matter.

     

    3.13.  Material
      Contracts.
      Schedule
      3.13 sets forth all of the following Contracts to which the Seller is a party
      or
      by which it is bound (collectively, the “Material Contracts”): (i) Contracts
      with any current officer or director of the Seller; (ii) Contracts with any
      labor union or association representing any employee of the Seller; (iii)
      Contracts pursuant to which any party is required to purchase or sell a stated
      portion of its requirements or output from or to another party; (iv) Contracts
      for the sale of any of the assets of the Seller other than in the ordinary
      course of business or for the grant to any person of any preferential rights
      to
      purchase any of its assets; (v) joint venture agreements; (vi) material
      Contracts containing covenants of the Seller not to compete in any line of
      business or with any person in any geographical area or covenants of any other
      person not to compete with the Seller in any line of business or in any
      geographical area; (vii) Contracts relating to the acquisition by the Seller
      of
      any operating business or the capital stock of any other person; (viii)
      Contracts relating to the borrowing of money; or (ix) any other Contracts,
      other
      than Real Property Leases, which involve the expenditure of more than $50,000
      in
      the aggregate or $20,000 annually or require performance by any party more
      than
      one year from the date hereof. There have been made available to the Purchaser,
      its affiliates and their representatives true and complete copies of all of
      the
      Material Contracts. Except as set forth on Schedule 3.13, all of the Material
      Contracts and other agreements are in full force and effect and are the legal,
      valid and binding obligation of the Seller, enforceable against it in accordance
      with its terms, subject to applicable bankruptcy, insolvency, reorganization,
      moratorium and similar laws affecting creditors’ rights and remedies generally
      and subject, as to enforceability, to general principles of equity (regardless
      of whether enforcement is sought in a proceeding at law or in equity). Except
      as
      set forth on Schedule 3.13, the Seller is not in default in any material respect
      under any Material Contracts, nor, to the knowledge of the Seller, is any other
      party to any Material Contract in default thereunder in any material
      respect.

     

    3.14.  Employee
      Benefits.

     

    (a) Schedule
      3.14(a) sets forth a complete and correct list of (i) all “employee benefit
      plans”, as defined in Section 3(3) of the Employee Retirement Income Security
      Act of 1974, as amended (“ERISA”), and any other pension plans or employee
      benefit arrangements, programs or payroll practices (including, without
      limitation, severance pay, vacation pay, company awards, salary continuation
      for
      disability, sick leave, retirement, deferred compensation, bonus or other
      incentive compensation, stock purchase arrangements or policies,
      hospitalization, medical insurance, life insurance and scholarship programs)
      maintained by the Seller or to which the Seller contributes or is obligated
      to
      contribute thereunder with respect to employees of the Seller (“Employee Benefit
      Plans”) and (ii) all “employee pension plans”, as defined in Section 3(2) of
      ERISA, maintained by the Seller or any trade or business (whether or not
      incorporated) which are under control, or which are treated as a single
      employer, with Seller under Section 414(b), (c), (m) or (o) of the Code (“ERISA
      Affiliate”) or to which the Seller or any ERISA Affiliate contributed or is
      obligated to contribute thereunder (“Pension Plans”). Schedule 3.14(a)
      identifies, in separate categories, Employee Benefit Plans or Pension Plans
      that
      are (i) subject to Section 4063 and 4064 of ERISA (“Multiple Employer Plans”),
      (ii) multiemployer plans (as defined in Section 4001(a)(3) of ERISA)
      (“Multiemployer Plans”) or (iii) “benefit plans”, within the meaning of Section
      5000(b)(1) of the Code providing continuing benefits after the termination
      of
      employment (other than as required by Section 4980B of the Code or Part 6 of
      Title I of ERISA and at the former employee’s or his beneficiary’s sole
      expense).

     

    
      
        
        

      

      
        -13-

        
          

        

      

      
        
        

      

       

    

    (b) Each
      of
      the Employee Benefit Plans and Pension Plans intended to qualify under Section
      401 of the Code (“Qualified Plans”) so qualifies and the trusts maintained
      thereto are exempt from federal income taxation under Section 501 of the Code,
      and, except as disclosed on Schedule 3.14(b), nothing has occurred with respect
      to the operation of any such plan which could cause the loss of such
      qualification or exemption or the imposition of any liability, penalty or tax
      under ERISA or the Code.

     

    (c) All
      contributions and premiums required by Law or by the terms of any Employee
      Benefit Plan or Pension Plan which are money purchase plans or any agreement
      relating thereto have been timely made (without regard to any waivers granted
      with respect thereto) to any funds or trusts established thereunder or in
      connection therewith, and no accumulated funding deficiencies exist in any
      of
      such plans subject to Section 412 of the Code.

     

    (d) No
      Employee Benefit Plans and Pension Plans are subject to Title IV of
      ERISA.

     

    (e) Each
      of
      the Employee Benefit Plans and Pension Plans has been maintained, in all
      material respects, in accordance with its terms and all provisions of applicable
      Law.

     

    3.15.  Labor.

     

    (a) Except
      as
      set forth on Schedule 3.15(a), the Seller is not party to any labor or
      collective bargaining agreement and there are no labor or collective bargaining
      agreements which pertain to employees of the Seller. The Seller has delivered
      or
      otherwise made available to the Purchaser true, correct and complete copies
      of
      the labor or collective bargaining agreements listed on Schedule 3.15(a),
      together with all amendments, modifications or supplements thereto.

     

    (b) Except
      as
      set forth on Schedule 3.15(b), no employees of the Seller are represented by
      any
      labor organization. No labor organization or group of employees of the Seller
      has made a pending demand for recognition, and there are no representation
      proceedings or petitions seeking a representation proceeding presently pending
      or, to the best knowledge of the Seller, threatened to be brought or filed,
      with
      the National Labor Relations Board or other labor relations tribunal. There
      is
      no organizing activity involving the Seller pending or, to the best knowledge
      of
      the Seller, threatened by any labor organization or group of employees of the
      Seller.

     

    
      
        
        

      

      
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    (c) There
      are
      no (i) strikes, work stoppages, slowdowns, lockouts or arbitrations or (ii)
      material grievances or other labor disputes pending or, to the best knowledge
      of
      the Seller, threatened against or involving the Seller. There are no unfair
      labor practice charges, grievances or complaints pending or, to the best
      knowledge of the Seller, threatened by or on behalf of any employee or group
      of
      employees of the Seller.

     

    3.16.  Litigation.
      Except
      as set forth in Schedule 3.16, there is no suit, action, proceeding,
      investigation, claim or order pending or, to the knowledge of the Seller,
      overtly threatened against the Seller (or to the knowledge of the Seller,
      pending or threatened, against any of the officers, directors or key employees
      of the Seller with respect to their business activities on behalf of the Seller,
      or to which the Seller is otherwise a party, which, if adversely determined,
      would have a Material Adverse Effect, before any court, or before any
      governmental department, commission, board, agency, or instrumentality; nor
      to
      the knowledge of the Seller is there any reasonable basis for any such action,
      proceeding, or investigation. The Seller is not subject to any judgment, order
      or decree of any court or governmental agency except to the extent the same
      are
      not reasonably likely to have a Material Adverse Effect and is not engaged
      in
      any legal action to recover monies due it or for damages sustained by
      it. 

     

    3.17.  Compliance
      with Laws; Permits.

     

    (a) The
      Seller is in compliance with all federal, state and local statutes, laws, rules,
      regulations, orders and ordinances (“Laws”) applicable to it or to the conduct
      of its business or operations or the use of its properties (including any leased
      properties) and assets, except for such non-compliances as would not,
      individually or in the aggregate, have a Material Adverse Effect. The Seller
      has
      all governmental permits and approvals from state, federal or local authorities
      which are required for it to operate its business, except for those the absence
      of which would not, individually or in the aggregate, have a Material Adverse
      Effect. 

     

    3.18.  Environmental
      Matters.
      Except
      as set forth on Schedule 3.18 hereto:

     

    (a) the
      operations of the Seller are in compliance with all applicable laws promulgated
      by any governmental entity which prohibit, regulate or control any hazardous
      material or hazardous material activity (“Environmental Laws”) and all permits
      issued pursuant to Environmental Laws or otherwise;

     

    (b) the
      Seller has obtained all permits required under all applicable Environmental
      Laws
      necessary to operate its business;

     

    (c) the
      Seller is not the subject of any outstanding written order or Contract with
      any
      governmental authority or person respecting (i) Environmental Laws, (ii)
      Remedial Action or (iii) any release or threatened release of a Hazardous
      Material (“Release”);

     

    
      
        
        

      

      
        -15-

        
          

        

      

      
        
        

      

       

    

    (d) the
      Seller has not received any written communication alleging either or both that
      it may be in violation of any Environmental Law, or any permit issued pursuant
      to Environmental Law, or may have any liability under any Environmental
      Law;

     

    (e) the
      Seller does not have any current contingent liability in connection with any
      Release into the indoor or outdoor environment (whether on-site or
      off-site);

     

    (f) there
      are
      no investigations of the business, operations, or currently or previously owned,
      operated or leased property of the Seller pending or, to the Seller’s knowledge,
      threatened which could lead to the imposition of any liability pursuant to
      Environmental Law;

     

    (g) to
      the
      Seller’s knowledge, there is not located at any of the properties of the Seller
      any (i) underground storage tanks, (ii) asbestos-containing material or (iii)
      equipment containing polychlorinated biphenyls; and,

     

    (h) the
      Seller has provided to the Purchaser all environmentally related audits,
      studies, reports, analyses, and results of investigations that have been
      performed with respect to the currently or previously owned, leased or operated
      properties of the Seller.

     

    3.19.  Insurance.
      Schedule
      3.19 sets forth a complete and accurate list of all policies of insurance of
      any
      kind or nature covering the Seller or any of its employees, properties or
      assets, including, without limitation, policies of life, disability, fire,
      theft, workers compensation, employee fidelity and other casualty and liability
      insurance. All such policies are in full force and effect, and, to the Seller’s
      knowledge, it is not in default of any provision thereof, except for such
      defaults as would not, individually or in the aggregate, have a Material Adverse
      Effect. 

     

    3.20.  Inventories. The
      inventories of the Seller are in good and marketable condition, and are saleable
      in the ordinary course of business.

     

    3.21.  Customers
      and Suppliers.
      Schedule
      3.21 sets forth a list of the twenty (20) largest customers and the twenty
      (20)
      largest suppliers of the Seller, as measured by the dollar amount of purchases
      therefrom or thereby, during each of the fiscal year ended 2006, showing the
      approximate total sales by the Seller to each such customer and the approximate
      total purchases by the Seller from each such supplier, during such period.
      Since
      the Seller Balance Sheet Date, there has not been any material adverse change
      in
      the business relationship of the Seller with any customer or supplier listed
      on
      Schedule 3.21.

     

    3.22.  No
      Misrepresentations.
      No
      representation or warranty of the Seller contained in this Agreement or in
      any
      schedule hereto or in any certificate or other instrument furnished by the
      Seller to the Purchaser pursuant to the terms hereof, taken as a whole, contains
      any untrue statement of a material fact or omits to state a material fact
      necessary to make the statements contained herein or therein not
      misleading.

     

    3.23.  Financial
      Advisors.
      No
      Person has acted, directly or indirectly, as a broker, finder or financial
      advisor for the Seller in connection with the transactions contemplated by
      this
      Agreement and no Person is entitled to any fee or commission or like payment
      in
      respect thereof.
      Seller
      has previously retained Thomas Murphy & Associates. Seller believes that no
      fee is due to Thomas Murphy & Associates as a result of that agreement, but
      any such fee would be paid by Seller.

     

    
      
        
        

      

      
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    3.24.  Patriot
      Act.
      The
      Seller certifies that, to the best of the Seller’s knowledge, the Seller has not
      been designated, and is not owned or controlled, by a “suspected terrorist” as
      defined in Executive Order 13224. The Seller hereby acknowledges that the
      Purchaser seeks to comply with all applicable Laws concerning money laundering
      and related activities. In furtherance of those efforts, the Seller hereby
      represents, warrants and agrees that: (i) none of the cash or property owned
      by
      the Seller has been or shall be derived from, or related to, any activity that
      is deemed criminal under United States law; and (ii) no contribution or payment
      by the Seller has, and this Agreement will not, cause the Seller to be in
      violation of the United States Bank Secrecy Act, the United States International
      Money Laundering Control Act of 1986 or the United States International Money
      Laundering Abatement and Anti-Terrorist Financing Act of 2001. 

     

    ARTICLE
      IV.

    REPRESENTATIONS
      AND WARRANTIES OF

    PURCHASER

     

    The
      Purchaser represents and warrants that:

     

    4.1.  Organization
      and Good Standing. Purchaser
      is a corporation duly incorporated and validly existing and in good standing
      under the laws of the State of Delaware.

     

    4.2.  Authorization
      of Agreement. The
      Purchaser has full corporate power and authority to execute and deliver this
      Agreement, the Employment Agreement and each other agreement, document,
      instrument or certificate contemplated by this Agreement or to be executed
      by
      the Purchaser in connection with the consummation of the transactions
      contemplated hereby and thereby (together with the Employment Agreement, the
      “Purchaser Documents”), and to consummate the transactions contemplated hereby
      and thereby. The execution, delivery and performance by the Purchaser of this
      Agreement and each Purchaser Document have been duly authorized by all necessary
      corporate action on behalf of the Purchaser. This Agreement has been, and each
      Purchaser Document will be at or prior to the Closing, duly executed and
      delivered by the Purchaser and (assuming the due authorization, execution and
      delivery by the other parties hereto and thereto) this Agreement constitutes,
      and each Purchaser Document when so executed and delivered will constitute,
      legal, valid and binding obligations of the Purchaser, enforceable against
      the
      Purchaser in accordance with their respective terms, subject to applicable
      bankruptcy, insolvency, reorganization, moratorium and similar laws affecting
      creditors’ rights and remedies generally, and subject, as to enforceability, to
      general principles of equity, including principles of commercial reasonableness,
      good faith and fair dealing (regardless of whether enforcement is sought in
      a
      proceeding at law or in equity).

     

    
      
        
        

      

      
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    4.3.  Conflicts;
      Consents of Third Parties. 

     

    (a) Except
      as
      set forth on Schedule 4.3 hereto, neither of the execution and delivery by
      the
      Purchaser of the Purchaser Documents, nor the compliance by the Purchaser with
      any of the provisions hereof or thereof will (i) conflict with, or result in
      the
      breach of, any provision of the certificate of incorporation, or certificate
      of
      formation, or by-laws of the Purchaser, (ii) conflict with, violate, result
      in
      the breach of, or constitute a default under any note, bond, mortgage,
      indenture, license, agreement or other obligation to which the Purchaser is
      a
      party or by which the Purchaser or its respective properties or assets are
      bound
      or (iii) violate any statute, rule, regulation, order or decree of any
      governmental body or authority by which the Purchaser is bound, except, in
      the
      case of clauses (ii) and (iii), for such violations, breaches or defaults as
      would not, individually or in the aggregate, have a material adverse effect
      on
      the business, properties, results of operations, prospects, conditions
      (financial or otherwise) of the Purchaser and its subsidiaries, taken as a
      whole.

     

    (b) No
      consent, waiver, approval, order, permit or authorization of, or declaration
      or
      filing with, or notification to, any Person or Governmental Body is required
      on
      the part of the Purchaser in connection with the execution and delivery of
      this
      Agreement or the Purchaser Documents or the compliance by Purchaser with any
      of
      the provisions hereof or thereof.

     

    4.4.  Litigation.
      There
      are no Legal Proceedings pending or, to the best knowledge of the Purchaser,
      threatened that are reasonably likely to prohibit or restrain the ability of
      the
      Purchaser to enter into this Agreement or consummate the transactions
      contemplated hereby.

     

    4.5.  Financial
      Advisors.
      No
      person has acted, directly or indirectly, as a broker, finder or financial
      advisor for the Purchaser in connection with the transactions contemplated
      by
      this Agreement and no person is entitled to any fee or commission or like
      payment in respect thereof.

     

    4.6.  Patriot
      Act.
      The
      Purchaser certifies that, to the best of the Purchaser’s knowledge, the
      Purchaser has not been designated, and is not owned or controlled, by a
“suspected terrorist” as defined in Executive Order 13224. The Purchaser hereby
      acknowledges that the Seller seeks to comply with all applicable Laws concerning
      money laundering and related activities. In furtherance of those efforts, the
      Purchaser hereby represents, warrants and agrees that: (i) none of the cash
      or
      property owned by the Purchaser has been or shall be derived from, or related
      to, any activity that is deemed criminal under United States law; and (ii)
      no
      contribution or payment by the Purchaser has, and this Agreement will not,
      cause
      the Purchaser to be in violation of the United States Bank Secrecy Act, the
      United States International Money Laundering Control Act of 1986 or the United
      States International Money Laundering Abatement and Anti-Terrorist Financing
      Act
      of 2001.

     

    4.7.  No
      Misrepresentations.
      No
      representation or warranty of the Seller contained in this Agreement or in
      any
      schedule hereto or in any certificate or other instrument furnished by the
      Seller to the Purchaser pursuant to the terms hereof, taken as a whole, contains
      any untrue statement of a material fact or omits to state a material fact
      necessary to make the statements contained herein or therein not
      misleading.

     

    
      
        
        

      

      
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    ARTICLE
      V.

    COVENANTS

     

    5.1.  Access
      to Information.
      The
      Seller and Owners agree that, prior to the Closing Date, the Purchaser shall
      be
      entitled, through its officers, employees and representatives (including,
      without limitation, its legal advisors and accountants), to make such
      investigation of the properties, businesses and operations of the Seller and
      such examination of the books, records and financial condition of the Seller
      as
      it reasonably requests and to make extracts and copies of such books and
      records. Any such investigation and examination shall be conducted during
      regular business hours and under reasonable circumstances, and the Seller shall
      cooperate fully therein. No investigation by the Purchaser prior to or after
      the
      date of this Agreement shall diminish or obviate any of the representations,
      warranties, covenants or agreements of the Seller contained in the Seller
      Documents. In
      order
      that the Purchaser may have full opportunity to make such physical, business,
      accounting and legal review, examination or investigation as it may reasonably
      request of the affairs of the Seller, Seller shall cause its officers,
      employees, consultants, agents, accountants, attorneys and other representatives
      to cooperate fully with such representatives in connection with such review
      and
      examination.

     

    5.2.  Conduct
      of the Business Pending the Closing.

     

    (a) Except
      as
      otherwise expressly contemplated by this Agreement or with the prior written
      consent of the Purchaser, the Seller shall:

     

    (i) conduct
      its business only in the ordinary course consistent with past
      practice;

     

    (ii) use
      its
      best efforts to (A) preserve its present business operations, organization
      (including, without limitation, management and the sales force) and goodwill
      and
      (B) preserve its present relationship with Persons having business dealings
      with
      it;

     

    (iii) maintain
      (A) all of its assets and properties in their current condition, ordinary wear
      and tear excepted and (B) insurance upon all of its properties and assets in
      such amounts and of such kinds comparable to that in effect on the date of
      this
      Agreement;

     

    (iv) (A)
      maintain its books, accounts and records in the ordinary course of business
      consistent with past practices, (B) continue to collect accounts receivable
      and
      pay accounts payable utilizing normal procedures and without discounting or
      accelerating payment of such accounts, and (C) comply with all contractual
      and
      other obligations applicable to its operation; and

     

    (v) comply
      in
      all material respects with applicable Laws.

     

    (b) Except
      as
      otherwise expressly contemplated by this Agreement or with the prior written
      consent of the Purchaser, the Seller shall not:

     

    (i) except
      for trade payables and for indebtedness for borrowed money incurred in the
      ordinary course of business and consistent with past practice, borrow monies
      for
      any reason or draw down on any line of credit or debt obligation, or become
      the
      guarantor, surety, endorser or otherwise liable for any debt, obligation or
      liability (contingent or otherwise) of any other Person; 

     

    
      
        
        

      

      
        -19-

        
          

        

      

      
        
        

      

       

    

    (ii) subject
      to any Lien (except for liens that do not materially impair the use of the
      property subject thereto in their respective businesses as presently conducted),
      any of its properties or assets (whether tangible or intangible);

     

    (iii) acquire
      any material properties or assets or sell, assign, transfer, convey, lease
      or
      otherwise dispose of any of its material properties or assets (except for fair
      consideration in the ordinary course of business consistent with past
      practice);

     

    (iv) cancel
      or
      compromise any debt or claim or waive or release any material right except
      in
      the ordinary course of business consistent with past practice;

     

    (v) enter
      into any commitment for capital expenditures in excess of $5,000 for any
      individual commitment and $20,000 for all commitments in the
      aggregate;

     

    (vi) introduce
      any material change with respect to its operation, including any material change
      in the types, nature, composition or quality of its products or services,
      experience any material change in any contribution of its product lines to
      its
      revenues or net income, or, other than in the ordinary course of business,
      make
      any change in product specifications or prices or terms of distributions of
      such
      products; 

     

    (vii) enter
      into any transaction or make or enter into any Contract which by reason of
      its
      size or otherwise is not in the ordinary course of business consistent with
      past
      practice;

     

    (viii) enter
      into or agree to enter into any merger or consolidation with, any corporation
      or
      other entity, and not engage in any new business or invest in, make a loan,
      advance or capital contribution to, or otherwise acquire the securities of
      any
      other Person;

     

    (ix) except
      for transfers of cash pursuant to normal cash management practices, make any
      investments in or loans to, or pay any fees or expenses to, or enter into or
      modify any Contract with any Affiliate; or

     

    (x) agree
      to
      do anything prohibited by this Section 5.2 or anything which would make any
      of
      the representations and warranties of the Seller in this Agreement or the Seller
      Documents untrue or incorrect in any material respect as of any time through
      and
      including the Closing Date.

     

    5.3.  Consents.
      The
      Seller shall use its best efforts, and the Purchaser shall cooperate with the
      Seller, to obtain at the earliest practicable date all consents and approvals
      required to consummate the transactions contemplated by this Agreement;
      provided, however, that neither the Seller nor the Purchaser shall be obligated
      to pay any consideration therefor to any third party from whom consent or
      approval is requested.

     

    5.4.  Other
      Actions.
      Each of
      the Seller, Owners and Purchaser shall use its best efforts to (i) take all
      actions necessary or appropriate to consummate the transactions contemplated
      by
      this Agreement, and (ii) cause the fulfillment at the earliest practicable
      date
      of all of the conditions to their respective obligations to consummate the
      transactions contemplated by this Agreement.

     

    
      
        
        

      

      
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    5.5.  No
      Solicitation.
      The
      Seller will not, and will not cause or permit any of its members, officers,
      employees, representatives or agents (collectively, the “Representatives”) to,
      directly or indirectly, (i) discuss, negotiate, undertake, authorize, recommend,
      propose or enter into, either as the proposed surviving, merged, acquiring
      or
      acquired entity, any transaction involving a merger, consolidation, business
      combination, purchase or disposition of any amount of the assets or capital
      stock or other equity interest in it other than the transactions contemplated
      by
      this Agreement (an “Acquisition Transaction”), (ii) facilitate, encourage,
      solicit or initiate discussions, negotiations or submissions of proposals or
      offers in respect of an Acquisition Transaction, (iii) furnish or cause to
      be
      furnished, to any Person, any information concerning its business, operations,
      properties or assets in connection with an Acquisition Transaction, or (iv)
      otherwise cooperate in any way with, or assist or participate in, facilitate
      or
      encourage, any effort or attempt by any other Person to do or seek any of the
      foregoing. The Seller will inform the Purchaser in writing immediately following
      the receipt by the Seller or any Representative of any proposal or inquiry
      in
      respect of any Acquisition Transaction.

     

    5.6.  Conduct
      of Business by Purchaser. From
      the
      date of Closing through the date of payment of the Purchase Price in accordance
      with terms specified in Section 1.4, Purchaser shall:

     

    (a) run
      the
      Business in a commercially reasonable manner;

    

    (b) dedicate
      capital and personnel to the Business and otherwise act in good faith in dealing
      with, managing and operating the Business; 

    

    (c) pursue
      customer opportunities for the Business, as the Purchaser may deem to be in
      the
      best interests; and

     

    (d) process
      all transactions and provide customer service with regard to the Business at
      a
      level at least equal to that currently provided by Seller to its
      customers;

     

    5.7.  Preservation
      of Records.
      The
      Seller, Owners and Purchaser agree that each of them shall preserve and keep
      the
      records held by it relating to the business of the Seller for a period of three
      years from the Closing Date (six years with respect to tax related records)
      and
      shall make such records and personnel available to the other as may be
      reasonably required by such party in connection with, among other things,
      preparation of financial statements, disclosure of information to the Securities
      and Exchange Commission, stock exchange or similar entity, any insurance claims
      by, legal proceedings against or governmental investigations of the Seller,
      the
      Purchaser or any of their Affiliates or in order to enable the Seller or
      Purchaser to comply with their respective obligations under this Agreement,
      the
      Employment Agreements and each other agreement, document or instrument
      contemplated hereby or thereby. In the event the Seller, the or Purchaser wishes
      to destroy such records after that time, such party shall first give ninety
      (90)
      days prior written notice to the other and such other party shall have the
      right
      at its option and expense, upon prior written notice given to such party within
      that ninety (90) day period, to take possession of the records within one
      hundred and eighty (180) days after the date of such notice.

     

    
      
        
        

      

      
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    5.8.  Publicity.
      The
      Seller shall not issue any press release or public announcement concerning
      this
      Agreement or the transactions contemplated hereby without obtaining the prior
      written approval of the Purchaser hereto, which approval will not be
      unreasonably withheld or delayed, unless, in the sole judgment of the Purchaser,
      disclosure is otherwise required by applicable Law, provided that, to the extent
      required by applicable Law, the party intending to make such release shall
      use
      its best efforts consistent with such applicable Law to consult with the other
      party with respect to the text thereof. 

     

    5.9.  Use
      of Name.
      Except
      as stated on Schedule 3.12, the Seller hereby agrees that upon the consummation
      of the transactions contemplated hereby, the Purchaser shall have the sole
      right
      to the use of the name “Ready Mobile” “Mojo Mobile” and variations thereof and
      the Seller shall not, and shall not cause or permit any Affiliate to use such
      name or any variation or simulation thereof. 

     

    ARTICLE
      VI.

    CONDITIONS
      TO CLOSING

     

    6.1.  Conditions
      Precedent to Obligations of Purchaser.
      The
      obligation of the Purchaser to consummate the transactions contemplated by
      this
      Agreement is subject to the fulfillment, on or prior to the Closing Date, of
      each of the following conditions (any or all of which may be waived by the
      Purchaser in whole or in part to the extent permitted by applicable
      Law):

     

    (a) all
      representations and warranties of the Seller and Owners contained herein shall
      be true and correct as of the date hereof;

     

    (b) all
      representations and warranties of the Seller contained herein qualified as
      to
      materiality shall be true and correct, and the representations and warranties
      of
      the Seller contained herein not qualified as to materiality shall be true and
      correct in all material respects, at and as of the Closing Date with the same
      effect as though those representations and warranties had been made again at
      and
      as of that time;

     

    (c) the
      Seller shall have performed and complied in all material respects with all
      obligations and covenants required by this Agreement to be performed or complied
      with by it on or prior to the Closing Date;

     

    (d) the
      Purchaser shall have been furnished with certificates (dated the Closing date
      and in form and substance reasonably satisfactory to the Purchaser) executed
      by
      the Seller certifying as to the fulfillment of the conditions specified in
      Sections 6.1(a), 6.1(b) and 6.1(c) hereof, and resolutions of the Board of
      Directors of the Seller authorizing the acquisition of the Seller; 

     

    (e) the
      Purchaser shall have obtained all consents and waivers referred to in Section
      4.3 hereof with respect to the transactions contemplated by this Agreement
      and
      the Purchaser Documents;

     

    
      
        
        

      

      
        -22-

        
          

        

      

      
        
        

      

       

    

    (f) there
      shall not have been or occurred any event which will have a Material Adverse
      Effect;

     

    (g) the
      Seller shall have obtained all consents and waivers referred to in Section
      3.5
      hereof, in a form reasonably satisfactory to the Purchaser, with respect to
      the
      transactions contemplated by this Agreement and the Seller
      Documents;

     

    (h) no
      Legal
      Proceedings shall have been instituted or threatened or claim or demand made
      against the Seller or the Purchaser seeking to restrain or prohibit or to obtain
      substantial damages with respect to the consummation of the transactions
      contemplated hereby, and there shall not be in effect any order by a
      Governmental Body of competent jurisdiction restraining, enjoining or otherwise
      prohibiting the consummation of the transactions contemplated
      hereby;

     

    (i) Dennis
      Henderson, Fred Haumesser, Glen Jasper shall have entered into the Employment
      Agreements with the Purchaser, substantially in the form of Exhibit B hereto
      (the “Employment Agreements”; 

     

    (j) the
      Purchaser shall have received disclosure schedules required pursuant to Article
      3 hereof, which shall be reasonably satisfactory to the Purchaser.

     

    6.2.  Conditions
      Precedent to Obligations of the Seller and Owners.
      The
      obligations of the Seller and Owners to consummate the transactions contemplated
      by this Agreement are subject to the fulfillment, prior to or on the Closing
      Date, of each of the following conditions (any or all of which may be waived
      by
      the Seller in whole or in part to the extent permitted by applicable
      law):

     

    (a) all
      representations and warranties of the Purchaser contained herein shall be true
      and correct as of the date hereof;

     

    (b) all
      representations and warranties of the Purchaser contained herein qualified
      as to
      materiality shall be true and correct, and all representations and warranties
      of
      the Purchaser contained herein not qualified as to materiality shall be true
      and
      correct in all material respects, at and as of the Closing Date with the same
      effect as though those representations and warranties had been made again at
      and
      as of that date;

     

    (c) the
      Purchaser shall have performed and complied in all material respects with all
      obligations and covenants required by this Agreement to be performed or complied
      with by Purchaser on or prior to the Closing Date;

     

    (d) the
      Seller shall have been furnished with certificates (dated the Closing Date
      and
      in form and substance reasonably satisfactory to the Seller) executed by the
      Purchaser certifying as to the fulfillment of the conditions specified in
      Sections 6.2(a), 6.2(b) and 6.2(c), and resolutions of the Board of Directors
      of
      the Purchaser authorizing the acquisition of the Seller;

     

    (e) there
      shall not be in effect any order by a Governmental Body of competent
      jurisdiction restraining, enjoining or otherwise prohibiting the consummation
      of
      the transactions contemplated hereby; and

     

    
      
        
        

      

      
        -23-

        
          

        

      

      
        
        

      

       

    

    (f) the
      Purchaser shall have entered into the Employment Agreements, substantially
      in
      the form of Exhibit B hereto.

     

    ARTICLE
      VII.

    DOCUMENTS
      TO BE DELIVERED

     

    7.1.  Documents
      to be Delivered by the Seller.
      At the
      Closing, the Seller shall deliver, or cause to be delivered, to the Purchaser
      the following:

     

    (a) the
      opinion of Davis, Brown, Koehn, Shors and Roberts, PC counsel to the Seller,
      in
      a mutually acceptable form; 

     

    (b) the
      certificates and resolutions referred to in Section 6.1(d); 

     

    (c) hereof
      copies of all consents and waivers referred to in Section 6.1(g)
      hereof;

     

    (d) Employment
      Agreements, substantially in the form of Exhibit B hereto, duly executed;
      and

     

    (e) such
      other documents as the Purchaser shall reasonably request.

     

    7.2.  Documents
      to be Delivered by the Purchaser.
      At the
      Closing, the Purchaser shall deliver to the Seller the following:

     

    (a) the
      certificates and resolutions referred to in Section 6.2(d) hereof; 

     

    (b) the
      opinion of Sichenzia Ross Friedman Ference LLP, counsel to Purchaser, in a
      mutually acceptable form; and

     

    (c) such
      other documents as the Seller shall reasonably request.

     

    ARTICLE
      VIII.

    NON-COMPETITION,
      NON-SOLICITATION

     

    8.1 Non-competition.
      For a
      period of five (5) years after the Closing Date, Owners shall not, in any states
      in which the Company conducts business, directly or indirectly invest in, own,
      manage, operate, finance, control, advise, render services to or guarantee
      the
      obligations of any party engaged in or planning to become engaged in the
      Business (“Competing Business”), provided, however, that Seller may purchase or
      otherwise acquire up to (but not more than) five percent (5 %) of any class
      of
      the securities of any Person (but may not otherwise participate in the
      activities of such Person) if such securities are listed on any national or
      regional securities exchange or have been registered under Section 12(g) of
      the
      Securities Exchange Act of 1934, as amended. 

    

    
      
        
        

      

      
        -24-

        
          

        

      

      
        
        

      

       

    

    8.2 Non-solicitation.
      For a
      period of five (5) years after the Closing Date, Owners shall not, directly
      or
      indirectly: 

     

    (a) solicit
      the business of any person who is a customer of Purchaser; 

    

    (b) cause,
      induce or attempt to cause or induce any customer, supplier, licensee, licensor,
      franchisee, employee, consultant or other business relation of Purchaser to
      cease doing business with Purchaser, to deal with any competitor of Purchaser
      or
      in any way interfere with its relationship with Purchaser; 

    

    (c) cause,
      induce or attempt to cause or induce any customer, supplier, licensee, licensor,
      franchisee, employee, consultant or other business relation of Seller on the
      Closing Date or within the year preceding the Closing Date to cease doing
      business with Purchaser, to deal with any competitor of Purchaser or in any
      way
      interfere with its relationship with Purchaser; or 

    

    (d) hire,
      retain or attempt to hire or retain any employee or independent contractor
      of
      Purchaser or in any way interfere with the relationship between Purchaser and
      any of its employees or independent contractors. 

    

    8.3 Exception.
      Notwithstanding the above, it is specifically agreed that DC Cellular Ventures,
      and its owners and affiliates, may continue to engage in the business of
      creating, marketing, and distributing GSM (Global System for Mobile
      Communications) products and that the conduct of such business shall not be
      deemed to be a violation of this Section 8.

     

    ARTICLE
      IX.

    INDEMNIFICATION

     

    9.1.  Indemnification.

     

    (a) Subject
      to Section 9.2 hereof, the Seller and the Owners hereby agree to indemnify
      and
      hold the Purchaser and their respective directors, officers, employees,
      Affiliates, agents, successors and assigns (collectively, the “Purchaser
      Indemnified Parties”) harmless from and against:

     

    (i) any
      and
      all liabilities of the Seller of every kind, nature and description, absolute
      or
      contingent, existing as against the Seller prior to and including the Closing
      Date or thereafter coming into being or arising by reason of any state of facts
      existing, or any transaction entered into, on or prior to the Closing Date;
      

     

    (ii) subject
      to Section 9.3, any and all losses, liabilities, obligations, damages, costs
      and
      expenses based upon, attributable to or resulting from the failure of any
      representation or warranty of the Seller set forth in Section 3 hereof, or
      any
      representation or warranty contained in any certificate delivered by or on
      behalf of the Seller pursuant to this Agreement, to be true and correct in
      all
      respects as of the date made; 

     

    
      
        
        

      

      
        -25-

        
          

        

      

      
        
        

      

       

    

    (iii) any
      and
      all losses, liabilities, obligations, damages, costs and expenses based upon,
      attributable to or resulting from the breach of any covenant or other agreement
      on the part of the Seller under this Agreement; 

     

    (iv) any
      and
      all notices, actions, suits, proceedings, claims, demands, assessments,
      judgments, costs, penalties and expenses, including attorneys’ and other
      professionals’ fees and disbursements (collectively, “Expenses”) incident to any
      and all losses, liabilities, obligations, damages, costs and expenses with
      respect to which indemnification is provided hereunder (collectively, “Losses”);
      and

     

    (v) any
      noncompliance with the bulk-transfer provisions of the Uniform Commercial Code
      (or any similar law) or fraudulent transfer law in respect of the transactions
      contemplated hereby. 

     

    (b) Subject
      to Section 9.2, Purchaser hereby agrees to indemnify and hold the Seller, the
      Owners and their Affiliates, agents, successors and assigns (collectively,
      the
“Seller Indemnified Parties”) harmless from and against:

     

    (i) subject
      to Section 9.3, any and all Losses based upon, attributable to or resulting
      from
      the failure of any representation or warranty of the Purchaser set forth in
      Section 4 hereof, or any representation or warranty contained in any certificate
      delivered by or on behalf of the Parent pursuant to this Agreement, to be true
      and correct as of the date made;

     

    (ii) any
      and
      all Losses based upon, attributable to or resulting from the breach of any
      covenant or other agreement on the part of the Purchaser under this Agreement;
      

     

    (iii) any
      and
      all Losses of the Purchaser of every kind, nature and description, absolute
      or
      contingent, existing as against the Purchaser after the Closing Date coming
      into
      being or arising by reason of any state of facts existing, or any transaction
      entered into, after the Closing Date; 

     

    (iv) all
      costs
      and expenses of the Seller arising from or in connection with a claim, suit,
      action, proceeding or demand brought against the Seller by WorldGate Services,
      Inc. in connection with the use of the “MOJO MOBILE” trademark; and

     

    (v) any
      and
      all Expenses incident to the foregoing.

     

    9.2.  Limitations
      on Indemnification.
      An
      indemnifying party shall not have any liability under Section 9.1(a)(ii) or
      Section 9.1(b)(i) hereof unless the aggregate amount of Losses and Expenses
      to
      the indemnified parties finally determined to arise thereunder based upon,
      attributable to or resulting from the failure of any representation or warranty
      to be true and correct, exceeds $25,000 (the “Basket”) and, in such event, the
      indemnifying party shall be required to pay the entire amount of such Losses
      and
      Expenses in excess of $25,000 (the “Deductible”). Provided,
      however, that
      under no circumstance shall the Seller be required to indemnify Purchaser for
      Loss and Expense that, in the aggregate, exceed the amount of the Purchase
      Price
      received. Further
      provided, however,
      that
      under no circumstance shall the Owners be required to indemnify Purchaser for
      Loss and Expense that, in the aggregate, exceed the amount of
      $590,000.

     

    
      
        
        

      

      
        -26-

        
          

        

      

      
        
        

      

       

    

    9.3.  Indemnification
      Procedures.

     

    (a) In
      the
      event that any Legal Proceedings shall be instituted or that any claim or demand
      (“Claim”) shall be asserted by any Person in respect of which payment may be
      sought under Section 9.1 hereof (regardless of the Basket or the Deductible
      referred to above), the indemnified party shall reasonably and promptly cause
      written notice of the assertion of any Claim of which it has knowledge which
      is
      covered by this indemnity to be forwarded to the indemnifying party. The
      indemnifying party shall have the right, at its sole option and expense, to
      be
      represented by counsel of its choice, which must be reasonably satisfactory
      to
      the indemnified party, and to defend against, negotiate, settle or otherwise
      deal with any Claim which relates to any Losses indemnified against hereunder.
      If the indemnifying party elects to defend against, negotiate, settle or
      otherwise deal with any Claim which relates to any Losses indemnified against
      hereunder, it shall within five (5) days (or sooner, if the nature of the Claim
      so requires) notify the indemnified party of its intent to do so. If the
      indemnifying party elects not to defend against, negotiate, settle or otherwise
      deal with any Claim which relates to any Losses indemnified against hereunder,
      fails to notify the indemnified party of its election as herein provided or
      contests its obligation to indemnify the indemnified party for such Losses
      under
      this Agreement, the indemnified party may defend against, negotiate, settle
      or
      otherwise deal with such Claim. If the indemnified party defends any Claim,
      then
      the indemnifying party shall reimburse the indemnified party for the Expenses
      of
      defending such Claim upon submission of periodic bills. If the indemnifying
      party shall assume the defense of any Claim, the indemnified party may
      participate, at his or its own expense, in the defense of such Claim; provided,
      however, that such indemnified party shall be entitled to participate in any
      such defense with separate counsel at the expense of the indemnifying party
      if,
      (i) so requested by the indemnifying party to participate or (ii) in the
      reasonable opinion of counsel to the indemnified party, a conflict or potential
      conflict exists between the indemnified party and the indemnifying party that
      would make such separate representation advisable; and provided, further, that
      the indemnifying party shall not be required to pay for more than one such
      counsel for all indemnified parties in connection with any Claim. The parties
      hereto agree to cooperate fully with each other in connection with the defense,
      negotiation or settlement of any such Claim.

     

    (b) After
      any
      final judgment or award shall have been rendered by a court, arbitration board
      or administrative agency of competent jurisdiction and the expiration of the
      time in which to appeal therefrom, or a settlement shall have been consummated,
      or the indemnified party and the indemnifying party shall have arrived at a
      mutually binding agreement with respect to a Claim hereunder, the indemnified
      party shall forward to the indemnifying party notice of any sums due and owing
      by the indemnifying party pursuant to this Agreement with respect to such matter
      and the indemnifying party shall be required to pay all of the sums so due
      and
      owing to the indemnified party by wire transfer of immediately available funds
      within 10 business days after the date of such notice.

     

    (c) The
      failure of the indemnified party to give reasonably prompt notice of any Claim
      shall not release, waive or otherwise affect the indemnifying party’s
      obligations with respect thereto except to the extent that the indemnifying
      party can demonstrate actual loss and prejudice as a result of such
      failure.

     

    
      
        
        

      

      
        -27-

        
          

        

      

      
        
        

      

    

     

    ARTICLE
      X.

    MISCELLANEOUS

     

    10.1.  Payment
      of Sales, Use or Similar Taxes.
      All
      sales, use, transfer, intangible, recordation, documentary stamp or similar
      Taxes or charges, of any nature whatsoever, applicable to, or resulting from,
      the transactions contemplated by this Agreement shall be borne by the
      Purchaser.

     

    10.2.  Survival
      of Representations and Warranties.
      The
      parties hereto hereby agree that the representations and warranties contained
      in
      this Agreement or in any certificate, document or instrument delivered in
      connection herewith, shall survive the execution and delivery of this Agreement,
      and the Closing hereunder, regardless of any investigation made by the parties
      hereto; provided, however, that any claims or actions with respect thereto
      (other than claims for indemnifications with respect to the representation
      and
      warranties contained in Sections 3.7, 3.9, 3.16, 3.18, 3.23, 4.4 and 4.5 which
      shall survive for periods coterminous with any applicable statutes of
      limitation) shall terminate unless within twelve (12) months after the Closing
      Date written notice of such claims is given to the Seller or such actions are
      commenced.

     

    10.3.  Expenses.
      Except
      as otherwise provided in this Agreement, the Seller, and the Purchaser shall
      each bear its own expenses incurred in connection with the negotiation and
      execution of this Agreement and each other agreement, document and instrument
      contemplated by this Agreement and the consummation of the transactions
      contemplated hereby and thereby.

     

    10.4.  Specific
      Performance.
      The
      Seller and Owners acknowledge and agree that the breach of this Agreement would
      cause irreparable damage to the Purchaser and that the Purchaser will not have
      an adequate remedy at law. Therefore, unless validly terminated pursuant to
      Section 2.2 above, the obligations of the Seller and the Purchaser under this
      Agreement, including, without limitation, the Seller’s obligation to sell the
      Assets to the Purchaser and the Purchaser’s obligations under Section 5.6 shall
      be enforceable by a decree of specific performance issued by any court of
      competent jurisdiction, and appropriate injunctive relief may be applied for
      and
      granted in connection therewith. Such remedies shall, however, be cumulative
      and
      not exclusive and shall be in addition to any other remedies which any party
      may
      have under this Agreement or otherwise.

     

    10.5.  Further
      Assurances.
      The
      Seller and the Purchaser each agrees to execute and deliver such other documents
      or agreements and to take such other action as may be reasonably necessary
      or
      desirable for the implementation of this Agreement and the consummation of
      the
      transactions contemplated hereby.

     

    10.6.  Submission
      to Jurisdiction; Consent to Service of Process

     

    (a) The
      parties hereto hereby irrevocably submit to the non-exclusive jurisdiction
      of
      any federal or state court located within the State of Delaware over any dispute
      arising out of or relating to this Agreement or any of the transactions
      contemplated hereby and each party hereby irrevocably agrees that all claims
      in
      respect of such dispute or any suit, action proceeding related thereto may
      be
      heard and determined in such courts. The parties hereby irrevocably waive,
      to
      the fullest extent permitted by applicable Law, any objection which they may
      now
      or hereafter have to the laying of venue of any such dispute brought in such
      court or any defense of inconvenient forum for the maintenance of such dispute.
      Each of the parties hereto agrees that a judgment in any such dispute may be
      enforced in other jurisdictions by suit on the judgment or in any other manner
      provided by law.

     

    
      
        
        

      

      
        -28-

        
          

        

      

      
        
        

      

       

    

    (b) Each
      of
      the parties hereto hereby consents to process being served by any party to
      this
      Agreement in any suit, action or proceeding by the mailing of a copy thereof
      in
      accordance with the provisions of Section 10.9.

     

    10.7.  Entire
      Agreement; Amendments and Waivers.
      This
      Agreement (including the schedules and exhibits hereto) represents the entire
      understanding and agreement between the parties hereto with respect to the
      subject matter hereof and can be amended, supplemented or changed, and any
      provision hereof can be waived, only by written instrument making specific
      reference to this Agreement signed by the party against whom enforcement of
      any
      such amendment, supplement, modification or waiver is sought. No action taken
      pursuant to this Agreement, including without limitation, any investigation
      by
      or on behalf of any party, shall be deemed to constitute a waiver by the party
      taking such action of compliance with any representation, warranty, covenant
      or
      agreement contained herein. The waiver by any party hereto of a breach of any
      provision of this Agreement shall not operate or be construed as a further
      or
      continuing waiver of such breach or as a waiver of any other or subsequent
      breach. No failure on the part of any party to exercise, and no delay in
      exercising, any right, power or remedy hereunder shall operate as a waiver
      thereof, nor shall any single or partial exercise of such right, power or remedy
      by such party preclude any other or further exercise thereof or the exercise
      of
      any other right, power or remedy. All remedies hereunder are cumulative and
      are
      not exclusive of any other remedies provided by law.

     

    (a) Governing
      Law.
      This
      Agreement shall be governed by and construed in accordance with the laws of
      the
      State of Delaware.

     

    10.8.  Table
      of Contents and Headings.
      The
      table of contents and section headings of this Agreement are for reference
      purposes only and are to be given no effect in the construction or
      interpretation of this Agreement.

     

    10.9.  Notices.
      All
      notices and other communications under this Agreement shall be in writing and
      shall be deemed given when delivered personally or mailed by certified mail,
      return receipt requested, to the parties (and shall also be transmitted by
      facsimile to the Persons receiving copies thereof) at the following addresses
      (or to such other address as a party may have specified by notice given to
      the
      other party pursuant to this provision):

     

    If
      to
      Purchaser:

    

    Titan
      Wireless RM, Inc. 

    407
      International Parkway, Suite 403

    Richardson,
      TX 75081 

    Attn:
      Bryan Chance 

    Phone:
      (972) 470-9100

    Fax: 
      (972)
      767-3117 

    

    
      
        
        

      

      
        -29-

        
          

        

      

      
        
        

      

       

    

    With
      a
      copy to:

    

    Thomas
      A.
      Rose, Esq.

    Sichenzia
      Ross Friedman Ference LLP

    1065
      Avenue of the Americas

    New
      York,
      New York 10018

    Phone:
      212-930-9700

    Fax:
      212-930-9725

    

    If
      to
      Seller or Owners:

    

    Ready
      Mobile LLC

    4364
      114th Street

    Urbandate,
      IA 50322

    Attn:
      Jay
      Eliason

    Phone:
      515-334-4008

    Fax:
      515-334-4001

    

    With
      a
      copy to:

    

     Bev
      Evans, Esq. 

    Davis,
      Brown, Koehn, Shors and Roberts, PC

    666
      Walnut Street, Suite 2500

    Des
      Moines, IA 50309 

    Phone:
      (515) 288-2500

    Fax:
      (515) 243-0654

    

    10.10.  Severability.
      If any
      provision of this Agreement is invalid or unenforceable, the balance of this
      Agreement shall remain in effect.

     

    10.11.  Binding
      Effect; Assignment.
      This
      Agreement shall be binding upon and inure to the benefit of the parties and
      their respective successors and permitted assigns. Nothing in this Agreement
      shall create or be deemed to create any third party beneficiary rights in any
      person or entity not a party to this Agreement except as provided below. No
      assignment of this Agreement or of any rights or obligations hereunder may
      be
      made by either the Seller or the Purchaser (by operation of law or otherwise)
      without the prior written consent of the other parties hereto and any attempted
      assignment without the required consents shall be void.

     

    
      
        
        

      

      
        -30-

        
          

        

      

      
        
        

      

    

     

    [SIGNATURE
      PAGE TO ASSET PURCHASE AGREEMENT]

     

    
      	Titan
              Wireless RM,
              Inc. 	 	 	Ready
              Mobile
              LLC
	
            	 	 	 
	 	 	 	 
	By: 
              /s/ 	 	 	By: 
              /s/ 
	
              
                

              

              Name:

              
                

              
Title: 
              
                

              

            	 	 	
              
                

              

              Name:

              
                

              

              Title:

              
                

              

              
              

            

    

     

    
      	Asper
              Eliason
              Partnership 	 	 	
              DC
                Cellular Ventures, LLC

            
	
            	 	 	 
	 	 	 	 
	By: 
              /s/ 	 	 	By: 
              /s/ 
	
              
                

              

              Name:

              
                

              
Title: 
              
                

              

            	 	 	
              
                

              

              Name:

              
                

              

              Title:

              
                

              

            

    

     

    
      	Eliason
              Management
              Company, Inc	 	 	Jay Eliason
	
            	 	 	 
	 	 	 	 
	By: 
              /s/ 	 	 	/s/ 
	
              
                

              

              Name:

              
                

              
Title: 
              
                

              

            	 	 	
              
                

              

              
              

            

       

      
        
          
          

        

        
          -31-Exhibit 10.1

                              SETTLEMENT AGREEMENT

     This Settlement Agreement is made and entered into as of May 13, 2007 (the
"Effective Date") by and between Adept Technology, Inc. ("Adept"), on the one
hand, and Crosslink Ventures IV, L.P., Offshore Crosslink Omega Ventures IV (a
Cayman Islands Unit Trust), Crosslink Omega Ventures IV GmbH & Co. KG, Omega
Bayview IV, L.L.C., and Crosslink Crossover Fund IV, L.P. (collectively the
"Crosslink Parties") on the other hand. Adept and the Crosslink Parties are each
sometimes referred to herein as a "Party" and collectively as "the Parties."

                                    RECITALS

     A.         WHEREAS, on or about June 9, 2006, Adept and the Crosslink
Parties entered into a Common Stock Purchase Agreement of even date (the "Stock
Purchase Agreement"), pursuant to which the Crosslink Parties purchased 731,251
shares of Adept common stock for an aggregate purchase price of approximately
ten million U.S. dollars ($10,000,000.00);

     B.         WHEREAS, on or about each of October 17, October 19, and October
20, 2006, Adept filed amendments to certain previously filed Quarterly Reports
on Form 10-Q following its accounting review (the "Restated Financial Reports");

     C.         WHEREAS, as a result of Adept's accounting review and subsequent
SEC filings, the Crosslink Parties asserted a basis for claims for breach of
certain representations and warranties of Adept in the Stock Purchase Agreement
and other claims;

     D.         WHEREAS, Adept denied and continues to deny any and all claims
of the Crosslink Parties;

     E.         NOW THEREFORE, for good and valuable consideration, for the
purpose of settling disputed claims without litigation, and without admission of
any fault or liability on the part of any Party whatsoever, the Parties hereby
agree as follows:

                                    AGREEMENT

     1.         Transfer of Shares in Settlement of Dispute. In full and final
settlement of any and all claims that any of the Crosslink Parties have or may
have against Adept or any of the Crosslink Releasees (hereinafter defined),
Adept shall issue and transfer to the Crosslink Parties an aggregate total of
225,000 shares of Adept common stock (in the aggregate, the "Shares"), without
representations, warranties, registration, informational or any other
contractual rights except as explicitly set forth herein. The Shares shall be
issued to the Crosslink Parties, in lieu of any cash consideration, as follows:
109,545 of the Shares to Crosslink Ventures IV, L.P., 35,266 of the Shares to
Offshore Crosslink Omega Ventures IV (a Cayman Islands Unit Trust), 4,583 of the
Shares to Crosslink Omega Ventures IV GmbH & Co. KG, 8,685 of the Shares to
Omega Bayview IV, L.L.C., and 66,921 of the Shares to Crosslink Crossover Fund
IV, L.P. Registration rights shall be as set forth in the Registration Rights
Agreement with respect to the Shares attached hereto as Exhibit A.

     2.         No Assignment of Claims. Each of the Crosslink Parties
represents and warrants to Adept, and Adept represents and warrants to each of
the Crosslink Parties, that it has not hypothecated or otherwise encumbered or
assigned any claim or cause of action against the other or against any of its
respective Releasees (hereinafter defined).

     3.         No Legal Proceedings. Each of the Crosslink Parties represents
and warrants to Adept, and Adept represents and warrants to each of the
Crosslink Parties, that it has not instituted any legal proceeding against the
other or against any of its respective Releasees (hereinafter defined).

     4.         Authority to Enter Into Settlement Agreement. Each Party
represents and warrants to the other Parties that it full power and authority to
enter into this Settlement Agreement; that this Settlement Agreement has been
duly and validly authorized, executed and delivered on behalf of such Party; and
that this Settlement Agreement is a valid and binding agreement of such Party
enforceable against such Party in accordance with its terms, except as such
enforceability may be limited by bankruptcy laws and other similar laws
affecting creditors' rights generally and general principles of equity.

     5.         Reliance on Independent Legal Advice. Each Party represents and
warrants to the other Parties:

                (a) That it has received advice from his or its own respective,
independent legal counsel prior to its execution of this Settlement Agreement;

                (b) That the legal nature and effect of this Settlement
Agreement has been explained to it by its respective counsel;

                (c) That it fully understands the terms and provisions of this
Settlement Agreement and the nature and effect thereof;

                (d) That it is relying solely on the advice of its own legal
counsel in executing this Settlement Agreement;

                (e) That it has not relied upon any representation or statement
of any other Party or counsel for any other Party not contained in this
Settlement Agreement;

                (f) That it has carefully read this Settlement Agreement, knows
the contents thereof, and is executing the same freely and voluntarily; and

                (g) That it is aware that it or its respective attorneys may
hereafter discover facts different from or in addition to the facts that they
now know or believe to be true with respect to the subject matter hereof, but
that its intention is to fully and finally release its respective Releasees
(hereinafter defined) to the full extent of the Mutual Releases contained in
this Settlement Agreement.

<PAGE>

     6.         Adept Representations Regarding the Shares.

                Adept represents and warrants to each of the Crosslink Parties
that (a) Adept has all corporate power and authority to engage in the
transactions contemplated by this Settlement Agreement, (b) the Shares to be
issued pursuant to this Settlement Agreement are, or will be upon issuance, duly
authorized, validly issued and fully paid, (c) in reliance, in part, upon the
accuracy of the representations in Section 7, the Shares are, or shall be,
issued pursuant to an exemption from registration under applicable securities
laws, free and clear of any liens or encumbrances other than any created by the
Crosslink Parties or applicable securities laws, (d) there are no consents,
approvals, filings or notices of any governmental or third party necessary to be
obtained or made by Adept in connection with this Agreement (other than current
or periodic reports under the Securities and Exchange Act of 1934, as amended,
and other than pursuant to applicable securities laws or filings with the Nasdaq
Global Market) and (e) assuming all filings and disclosures pursuant to
applicable securities laws are completed, the execution, delivery and
performance by Adept of this Agreement does not violate, breach or conflict with
Adept's certificate of incorporation, bylaws, or any judgment, decree, order,
statute, law, rule or regulation applicable to Adept.

     7.         Crosslink Parties Securities Laws Representations.

     Each Crosslink Party hereby severally represents and warrants to Adept as
follows:

                (a) Purchase for Own Account, Etc. Such Crosslink Party is
acquiring its respective portion of the Shares for such Crosslink Party's own
account for investment purposes only and not with a present view towards the
public sale or distribution thereof except for sales duly registered under the
Securities Act. Such Crosslink Party is not a registered broker/dealer, nor is
an affiliate of a registered broker/dealer and such Crosslink Party does not
have any agreement or understanding, directly or indirectly, with any person
regarding the sale or distribution of the Shares or any common stock of Adept
("Common Stock"), except this Settlement Agreement. Such Crosslink Party
understands that it must bear the economic risk of this investment indefinitely,
unless the Shares are registered pursuant to the Securities Act and any
applicable state securities or blue sky laws or an exemption from such
registration is available.

                (b) Accredited Investor Status. Such Crosslink Party is an
"Accredited Investor" as that term is defined in Rule 501(a) of Regulation D,
and was not organized for the purpose of this investment.

                (c) Reliance on Exemptions. Such Crosslink Party understands
that the Shares are being issued to such Crosslink Party in reliance upon
specific exemptions from the registration requirements of United States federal
and state securities laws and that Adept is relying upon the truth and accuracy
of, and such Crosslink Party's compliance with, the representations, warranties,
agreements, acknowledgments and understandings of such Crosslink Party set forth
herein in order to determine the availability of such exemptions and the
eligibility of such Crosslink Party to acquire the Shares.

<PAGE>

                (d) Governmental Review. Such Crosslink Party understands that
no United States federal or state agency or any other government or governmental
agency has passed upon or made any recommendation or endorsement of the Shares.

                (e) Transfer or Resale. Such Crosslink Party understands that
(i) the sale or resale of the Shares have not been and are not being registered
under the Securities Act or any state securities laws, and the Shares may not be
transferred unless (A) the Crosslink Party shall have delivered to the Company
an opinion of counsel (which opinion shall be in form, substance and scope
customary for opinions of counsel in comparable transactions) to the effect that
the Shares to be sold or transferred may be sold or transferred pursuant to an
exemption from such registration; or (B) sold under and in compliance with Rule
144 promulgated under the Securities Act (or a successor rule) ("Rule 144"); or
(C) sold or transferred to an affiliate or limited partner of the Crosslink
Party who agrees to sell or otherwise transfer the Shares only in accordance
with the provisions of this Section and who is an Accredited Investor.
Notwithstanding the foregoing or anything else contained herein to the contrary,
the Shares may be pledged as collateral in connection with a bona fide margin
account or other lending arrangement, provided such pledge is consistent with
applicable laws, rules and regulations, including all applicable securities
laws.

                (f) Legend. Each of the Crosslink Parties understands that until
such time as the Shares issued pursuant to this Agreement may have been
registered under the Securities Act or otherwise may be sold by the Crosslink
Party under Rule 144(k), certificates for the Shares may bear a restrictive
legend in substantially the following form:

                The securities represented by this certificate have not been
                registered under the Securities Act of 1933, as amended, or the
                securities laws of any state of the United States or in any
                other jurisdiction. The securities represented hereby may not be
                offered, sold or transferred in the absence of an effective
                registration statement for the securities under applicable
                securities laws unless offered, sold or transferred pursuant to
                an available exemption from the registration requirements of
                those laws.

     The legend set forth above shall be removed and Adept shall issue (or
instruct the transfer agent to issue) a certificate without such legend to the
holder of any Shares upon which it is stamped, if, unless otherwise required by
state securities laws, (a) such holder provides Adept with an opinion of
counsel, in form, substance and scope customary for opinions of counsel in
comparable transactions, to the effect that a public sale or transfer of such
Shares may be made without registration under the Securities Act; or (b) such
holder provides Adept with reasonable assurances that such Shares can be sold
under Rule 144(k).

                (g) Residency. Such Crosslink Party is a resident of the
jurisdiction set forth under the name of such Crosslink Party on Schedule I to
the Stock Purchase Agreement.

<PAGE>

                (h) Execution, Delivery, Performance. There are no consents,
approvals, filings or notices of any governmental or third party necessary to be
obtained or made by such Crosslink Party in connection with this Agreement
(other than current or periodic reports under the Securities and Exchange Act of
1934, as amended) and the execution, delivery and performance by such Crosslink
Party of this Agreement does not violate, breach or conflict with any
certificate of incorporation, bylaw, operating agreement or other similar
governing document, judgment, decree, order, statute, law, rule or regulation
applicable to such Crosslink Party.

     8.         Termination of Representations and Warranties Under Stock
Purchase Agreement. Each of the Parties hereto agrees that the representations
and warranties and the agreements and covenants in the Stock Purchase Agreement,
and all indemnification obligations with respect thereto, that would have
otherwise expired or terminated one (1) year following the Closing of the Stock
Purchase Agreement, shall be deemed to have expired and terminated instead on
the Effective Date of this Settlement Agreement. This Agreement does not
supercede or amend the Stock Purchase Agreement in any other respect.

     9.         Waiver of Civil Code ss. 1542. Each of the Crosslink Parties
represents and warrants to Adept, and Adept represents and warrants to each of
the Crosslink Parties, that it has been informed of, has read, is familiar with,
understands, and does hereby expressly waive all rights that it has or may have
under Section 1542 of the California Civil Code and all other similar rights in
other states or territories of the United States of America, or any other
jurisdiction. Said Section 1542 provides:

     A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT
KNOW OR SUSPECT TO EXIST IN HIS FAVOR AT THE TIME OF EXECUTING THE RELEASE,
WHICH IF KNOWN BY HIM, MUST HAVE MATERIALLY AFFECTED HIS SETTLEMENT WITH THE
DEBTOR

     10.        Release by the Crosslink Parties of Adept. Crosslink Ventures
IV, L.P., Offshore Crosslink Omega Ventures IV (a Cayman Islands Unit Trust),
Crosslink Omega Ventures IV GmbH & Co. KG, Omega Bayview IV, L.L.C., and
Crosslink Crossover Fund IV, L.P., for themselves, and for each of their
respective past, present, and future officers, directors, shareholders, heirs,
administrators, executors, partners, members, insurers, sureties, attorneys,
consultants, experts, employees, owners, investors, alter egos, agents,
representatives, predecessors, successors and assigns, and any past, present or
future parent, subsidiary or affiliate corporations, partnerships, LLC's or
other related business entities, and each of their respective past, present, and
future officers, directors, shareholders, heirs, administrators, executors,
partners, members, insurers, sureties, attorneys, consultants, experts,
employees, owners, investors, alter egos, agents, representatives, predecessors,
successors and assigns (collectively the "Crosslink Releasors"), do hereby
release, acquit, and forever discharge Adept and its past, present, and future
officers, directors, shareholders, heirs, administrators, executors, partners,
members, insurers, sureties, attorneys, accountants, consultants, experts,
employees, owners, investors, alter egos, agents, representatives, predecessors,

<PAGE>

successors and assigns, and any past, present or future parent, subsidiary or
affiliate corporations, partnerships, LLC's or other related business entities,
and each of their respective past, present, and future officers, directors,
shareholders, heirs, administrators, executors, partners, members, insurers,
sureties, attorneys, consultants, experts, employees, owners, investors, alter
egos, agents, representatives, predecessors, successors and assigns
(collectively the "Crosslink Releasees"), of and from any and all claims, causes
of action, debts, losses, damages, obligations, liabilities, promises,
representations, warranties, acts or omissions, of any kind or nature
whatsoever, from the beginning of time to the Effective Date (whether at law or
in equity, whether in tort or in contract, whether statutory or at common law,
whether for rescission, damages, or any other relief, and whether known or
unknown, suspected or unsuspected), including but not limited to any and all
claims arising under the state or federal securities laws, claims for breach of
the Stock Purchase Agreement, and claims for fraud, misrepresentation,
negligence, breach of duty, or concealment, which have arisen, are arising, or
may in the future arise out of, from, or relating to, directly or indirectly,
the Stock Purchase Agreement, the shares purchased pursuant to the Stock
Purchase Agreement, Adept's accounting review, financial results, SEC filings,
or Restated Financial Reports, or any other matter from the beginning of time to
the Effective Date; provided, however, that this Release shall not release the
Crosslink Parties from any of their respective duties or obligations under this
Settlement Agreement, the Registration Rights Agreement attached hereto as
Exhibit A, or under those provisions of the Stock Purchase Agreement that are
not addressed herein.

     11.        Release by Adept of the Crosslink Parties. Adept, for itself,
and for each of its respective past, present, and future officers, directors,
shareholders, heirs, administrators, executors, partners, members, insurers,
sureties, attorneys, consultants, experts, employees, owners, investors, alter
egos, agents, representatives, predecessors, successors and assigns, and any
past, present or future parent, subsidiary or affiliate corporations,
partnerships, LLC's or other related business entities, and each of their
respective past, present, and future officers, directors, shareholders, heirs,
administrators, executors, partners, members, insurers, sureties, attorneys,
consultants, experts, employees, owners, investors, alter egos, agents,
representatives, predecessors, successors and assigns (collectively the "Adept
Releasors"), does hereby release, acquit, and forever discharge Crosslink
Ventures IV, L.P., Offshore Crosslink Omega Ventures IV (a Cayman Islands Unit
Trust), Crosslink Omega Ventures IV GmbH & Co. KG, Omega Bayview IV, L.L.C., and
Crosslink Crossover Fund IV, L.P., and each of their respective past, present,
and future officers, directors, shareholders, heirs, administrators, executors,
partners, members, insurers, sureties, attorneys, accountants, consultants,
experts, employees, owners, investors, alter egos, agents, representatives,
predecessors, successors and assigns, and any past, present or future parent,
subsidiary or affiliate corporations, partnerships, LLC's or other related
business entities, and each of their respective past, present, and future
officers, directors, shareholders, heirs, administrators, executors, partners,
members, insurers, sureties, attorneys, consultants, experts, employees, owners,
investors, alter egos, agents, representatives, predecessors, successors and
assigns (collectively the "Adept Releasees"), of and from any and all claims,
causes of action, debts, losses, damages, obligations, liabilities, promises,
representations, warranties, acts or omissions, of any kind or nature
whatsoever, from the beginning of time to the Effective Date (whether at law or
in equity, whether in tort or in contract, whether statutory or at common law,
whether for rescission, damages, or any other relief, and whether known or
unknown, suspected or unsuspected), including but not limited to any and all
claims arising under the state or federal securities laws, claims for breach of
the Stock Purchase Agreement, and claims for fraud, misrepresentation,
negligence, breach of duty, or concealment, which have arisen, are arising, or
may in the future arise out of, from, or relating to, directly or indirectly,

<PAGE>

the Stock Purchase Agreement, the shares purchased pursuant to the Stock
Purchase Agreement, Adept's accounting review, financial results, SEC filings,
or Restated Financial Reports, or any other matter from the beginning of time to
the Effective Date; provided, however, that this Release shall not release Adept
from any of its duties or obligations under this Settlement Agreement, the
Registration Rights Agreement attached hereto as Exhibit A, or under those
provisions of the Stock Purchase Agreement that are not addressed herein.

     12.        Covenant Not To Sue. Except for the enforcement of this
Settlement Agreement, each of the Parties, for itself, and for its respective
Releasors (hereinbefore defined) hereby covenants not to sue any of the other
Parties or their respective Releasees (hereinbefore defined) based on any claim
covered by the foregoing Mutual Releases.

     13.        Governing Law; Jurisdiction. This Settlement Agreement shall be
governed by and construed in accordance with the laws of the State of Delaware
applicable to contracts made and to be performed in the State of Delaware. Adept
and the Crosslink Parties irrevocably consent to the jurisdiction of the United
States federal courts and the state courts located in the State of Delaware in
any suit or proceeding based on or arising under this Settlement Agreement and
irrevocably agree that all claims in respect of such suit or proceeding may be
determined in such courts. Adept and the Crosslink Parties irrevocably waive the
defense of an inconvenient forum to the maintenance of such suit or proceeding.
The Parties further agree that service of process upon the other Party mailed by
first class mail shall be deemed in every respect effective service of process
upon such Party in any such suit or proceeding. Nothing herein shall affect the
right of the Parties to serve process in any other manner permitted by law. The
Parties agree that a final non-appealable judgment in any such suit or
proceeding shall be conclusive and may be enforced in other jurisdictions by
suit on such judgment or in any other lawful manner.

     14.        No Admission of Fault. This Settlement Agreement is a compromise
settlement of disputed claims and may not be deemed or used as an admission of
liability or fault on the part of any Party hereto.

     15.        Each Party To Bear Own Costs and Attorneys' Fees. Each Party
hereto shall bear its own respective costs, expenses, and attorneys' fees with
respect to this Settlement Agreement and the matters settled hereby.

     16.        Entire Agreement. This Settlement Agreement constitutes the
entire agreement between the Parties with respect to the subject matter hereof,
and supersedes all previous agreements, negotiations, or understandings, whether
written or oral, concerning the settlement of the Crosslink claims; provided,
however, that this Settlement Agreement, except as expressly provided herein,
shall not supercede the Stock Purchase Agreement, the Registration Rights
Agreement entered into in connection with the Stock Purchase Agreement, or the
Registration Rights Agreement with respect to the Shares attached hereto as
Exhibit A.

     17.        Amendment Only In Writing. This Settlement Agreement may be
amended only by a written agreement executed by all Parties hereto.

<PAGE>

     18.        Severability. In case any provision of this Settlement Agreement
shall be declared invalid, illegal or unenforceable, the validity, legality and
enforceability of the remaining provisions of this Settlement Agreement shall
not in any way be affected or impaired thereby.

     19.        Counterparts. This Settlement Agreement may be executed in
counterparts, each of which shall be deemed a duplicate original, but all of
which together shall constitute one and the same instrument.

     20.        Joint Participation in Drafting. Each party to this Settlement
Agreement has participated in the negotiation and drafting of this Agreement. As
such, the language used herein shall be deemed to be the language chosen by the
Parties hereto to express their mutual intent, and no rule of strict
construction will be applied against any Party to this Agreement.

     [intentionally left blank]

<PAGE>

     IN WITNESS WHEREOF, the Parties hereto have executed this Settlement
Agreement as of the Effective Date.

                                Adept Technology, Inc.

                                By:   /s/ Robert H. Bucher
                                      --------------------
                                      Its: President and Chief Executive Officer

                 [CROSSLINK ENTITIES' SIGNATURE PAGES TO FOLLOW]
<PAGE>

     IN WITNESS WHEREOF, the Parties hereto have executed this Settlement
Agreement as of the Effective Date.

                                Crosslink Ventures IV, L.P.

                                By:     Crosslink Ventures IV Holdings, L.L.C.,
                                        its General Partner

                                        By: /s/ Michael J. Stark
                                            --------------------
                                            Michael J. Stark, Managing Member

                                        Offshore Crosslink Omega Ventures IV,
                                        (a Cayman Islands Unit Trust)

                                By:     Crosslink Ventures IV Holdings, L.L.C.,
                                        its General Partner

                                        By: /s/ Michael J. Stark
                                            --------------------
                                            Michael J. Stark, Managing Member

                                Crosslink Omega Ventures IV GmbH & Co. KG

                                By:     Crosslink Verwaltungs GmbH,
                                        its General Partner

                                        By: /s/ Michael J. Stark
                                            --------------------
                                            Michael J. Stark, Managing Member

                                Omega Bayview IV, L.L.C.

                                        By: /s/ Michael J. Stark
                                            --------------------
                                            Michael J. Stark, Managing Member

                                Crosslink Crossover Fund IV, L.P.

                                By:     Crossover Fund IV Management, L.L.C.,
                                        its General Partner

                                        By: /s/ Michael J. Stark
                                            --------------------
                                            Michael J. Stark, Managing Member

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