Document:

exhibit10_2.htm

    
      
         

      

      
        
          Execution
Copy  

        

        
          

        

      

    

    IPR Assignment
Agreement

    

    Dated
as of the 30th day of
June 2009

    
      	
              By
      and between:

            	
              Hotel
      Outsource Management International, Inc., a Delaware
      corporation whose address for the purposes of notices sent under this
      Agreement shall be One Embarcadero Center, Suite 500, San
      Francisco  CA 94111, Fax: +1-415-433 5994, e-mail: danielcohen@my-homi.com,
      with a mandatory
      copy to Reif & Reif Law Offices, 17-4 Yitzchak Rabin Road, Bet
      Shemesh 99585, Israel, Fax: +972-2-999-7993, e-mail: Aryeh@ReifLaw.com;
      (“Seller”);

            

    

     

    
      	
              And:

            	
              HOMI
      Industries Ltd, a company incorporated and existing under the laws
      of Israel, No. 512805193, whose address for the purposes of this Agreement
      shall be c/o HOMI Israel Ltd., Gav-Yam Centre, Building #3, 3rd Floor, 9
      Shenkar Street, Herzliya Pituach 46725, Fax: 09-9728626, email: jackronnel@my-homi.com,
      with a mandatory
      copy to Adv. Aryeh Reif, 17-4 Yitzchak Rabin Road, Bet Shemesh
      99585, Fax: 02-9997993, email: Aryeh@ReifLaw.com
      (“Buyer”);

            

    

     

    
      	
              Whereas:

            	
              Seller
      has developed and/or is the owner of technology, know-how and patent
      rights relating to the marketing, lease, supply, installation and/or
      outsource operation of minibars and/or other in-room refreshment
      dispensing devices (“HOMI® Services”), as well as
      the development, manufacture and sale of such devices (collectively, the
      “IP
      Rights”);

            

    

     

    
      	
              Whereas:

            	
              Seller
      wishes to sell and assign all of the IP Rights to Buyer, which is a wholly
      owned subsidiary of Seller, and Buyer wishes to purchase and take
      assignment of all the IP Rights, all in accordance with and subject to the
      terms and conditions set forth
herein;

            

    

     

     

    Therefore,
the Parties have made condition and agreed as follows:

     

     

    
      	
              1.  

            	
              Sale and Assignment of
      IP Rights

            

    

     

    
      	
              1.1  

            	
              Seller
      confirms that the IP Rights are free and clear of all liens, claims and
      encumbrances of any kind.

            

    

     

    
      	
              1.2  

            	
              Seller
      hereby sells and assigns the IP Rights to Buyer and Buyer hereby purchases
      and takes assignment of the IP Rights from Seller, with retroactive effect
      as of January 1, 2009 (the “Sale &
      Assignment”).

            

    

     

    
      	
              1.3  

            	
              Seller
      warrants to Buyer that Seller is the sole owner and the sole holder of the
      IP Rights and that Seller has the full right to assign and sell the IP
      Rights to Buyer. Seller further warrants to Buyer that it is not aware of
      any third party rights that are infringed by the IP Rights and the
      commercialization thereof.

            

    

     

    
      	
              1.4  

            	
              In
      view of the fact that Seller’s commercialization of the IP Rights, in the
      context of the HOMI®
      Services, has been performed under the “HOMI” trademark (the “Trademark”), and Seller
      has registered that trademark in its name in numerous countries around the
      world and has accumulated goodwill in the “HOMI” name and mark (the “Goodwill”), it is hereby
      agreed that the Sale & Assignment includes the grant by Seller, to
      Buyer, of an exclusive, worldwide, royalty-free license to supply
      HOMI®
      Services under the Trademark and the Goodwill, including the right to
      grant sub-licenses under terms that shall have been approved in advance by
      Seller.

            

    

     

    Buyer
undertakes to strictly comply at all times with directions and procedures that
Seller may provide from time to time in connection with proper usage of the
Trademark and make sure that its actions at all time enhance the reputation of
the Trademark.

     

     

    
      
        2

      

      
        
          
            IPR
Assignment Agreement

            HOMI
Inc – HOMI Industries

            Execution
Copy

          

        

        
          

        

      

      
         

      

    

    
       

    

    
      	
              2.  

            	
              Consideration

            

    

     

    In
full and final consideration of the Sale & Assignment as set forth in
Section ‎1
above, Buyer shall pay to Seller, at the signing hereof, the sum of US$1,913,000
(one million, nine hundred and thirteen thousand US Dollars) (the “Purchase Price”).

     

    
      	
              3.  

            	
              Registration

            

    

     

    Buyer
shall, at its own expense, file such notices and/or registration and/or recordal
that may be necessary in order to perfect the Sale & Assignment, including,
without limitation, the recordal of the assignment of Seller’s patent rights in
relation to the IP Rights, and the recordal of the trademark license. Seller
agrees to fully cooperate with Buyer in this regard and to promptly execute,
free of charge, any and all such documents as may be required in such context,
upon Buyer’s reasonable request.

     

    
      	
              4.  

            	
              Miscellaneous

            

    

     

    No
Amendment to this Agreement, or any part thereof, shall be valid or binding upon
the Parties unless drawn up in writing and signed by both Parties. The Preamble,
and any Appendices, Exhibits or Schedules to this Agreement, constitute an
integral part hereof. The headings used in this Agreement are for convenience of
reference only and will not be used in the construction of this Agreement. Any
use of the word “including” in this Agreement shall be construed as meaning
“including, without limitation”, unless expressly stipulated to the contrary.
All pronouns contained herein, and any variations thereof, shall be deemed
equally to refer to the masculine, feminine or neutral, singular or plural, as
the context may require. No principle of construction against the drafter shall
apply in any way to this Agreement or any of the Exhibits, Appendices and/or
Schedules attached hereto. No failure or delay on the part of any Party in
exercising any right and/or remedy to which it may be entitled hereunder and/or
by law shall operate as a waiver by that Party of any right whatsoever. No
waiver of any right under this Agreement shall be deemed as a waiver of any
further or future right hereunder, whether or not such right is the same kind of
right as was waived in a previous instance. In case any provision of the
Agreement shall be declared invalid, illegal or unenforceable, the validity,
legality and enforceability of the remaining provisions shall not in any way be
affected or impaired thereby and shall continue in full force and effect. This
Agreement constitutes the entire agreement between the Parties with respect to
the subject matter hereof and replaces any previous agreements between the
Parties, if at all, whether written or verbal, pertaining to any of the
subject-matter hereof. This Agreement shall be deemed to have been made and
concluded in Israel and the construction, validity and performance of this
Agreement shall be governed by the laws of Israel without giving effect to the
conflicts of law principles thereunder. By their execution hereof, the parties
irrevocably agree to submit all disputes arising hereunder to the jurisdiction
of the competent courts of Tel-Aviv, Israel. Notices sent by one Party to the
other under this Agreement will be sent by registered mail to the addresses
specified in the Preamble, delivered by hand, transmitted by fax, or sent by
e-mail or other electronic means of communication and will be deemed to have
reached their destination within 3 days of being deposited with the Post Office
for dispatch as registered mail (7 days in the case of air mail), upon actual
delivery when delivered by hand, and upon receipt of the recipient’s
confirmation of receipt when sent by fax, e-mail or other electronic means of
communication. This Agreement may be executed in any number of counterparts, in
original or by facsimile, and each such counterpart hereof shall be deemed to be
an original instrument, but all such counterparts together shall constitute one
and the same agreement.

     

    In witness whereof the
Parties have executed this

     

    IPR Assignment agreement on
the date first above written:

    
      	
              _______________________________

              Hotel
      Outsource Management International, Inc.

            	 
      	
              _________________________

              HOMI
      Industries LtdPECO II, Inc

Borders Separation Release

Exhibit 10.1

PECO II, Inc.

RELEASE AND WAIVER AGREEMENT

CONCERNING MY SEPARATION FROM EMPLOYMENT

1.

I, Guy Kevin Borders, who resides at 3421 Pelham Place, Avon, OH,  44011 have agreed to accept a Separation Benefit, upon my separation from employment with PECO II, Inc. (the Company).

2.

I understand that, upon my signature, and that of a representative of the Company, this Agreement between the Company and me will govern the terms of my separation.  I understand that my employment will end effective June 30, 2009.

3.

I acknowledge that I have received all salary earned and accrued through the effective date of my separation.

4.

I understand that the Company is providing the Separation Benefit as a special benefit to me, in return for this Agreement.  I understand that the Separation Benefit is over and above what I would normally receive upon separation.  I will also be paid for unused earned vacation pay for calendar year 2009.

5.

I understand that the Separation Benefit provided under this Agreement shall be:

a.

A gross payment equivalent to $66,795.

6.

I understand that my receipt of the Separation Benefit in no way affects any right I may have to receive continued medical coverage under COBRA (the Consolidated Omnibus Budget Reconciliation Act).  I further understand that the complete terms of my release and waiver agreement, and all the terms of my separation are contained in this single Agreement.  I am relying on no information or representation concerning my separation, other than the terms set out in this Agreement.

7.

I understand that under this Agreement the final date for exercising my stock options shall be December 31, 2009.

8.

I understand that under this Agreement the Company shall give consideration to utilizing me as a consultant for tasks that can benefit from my capabilities.

9.

In consideration of the Separation Benefit, I waive and release any right that I may have to bring any claim, to litigate, or seek settlement, damages or liabilities regarding; (1) my employment with the Company or any other entity affiliated with the Company; (2) termination of employment; (3) the Company’s offer of and my acceptance of the Separation Benefit (my “Waiver”) and; (4) violation of any federal, state or local law, regulation, order or other requirement of law, breach of contract, commission of a civil wrong or otherwise by the Company.

Borders Separation Release

Exhibit 10.1

10.

My Waiver shall apply to the Company, any parent corporation of the Company, their respective affiliates, successors, and assigns, and all of their past and present employees, officers, agents, shareholders and directors, as well as all administrators, service providers, and fiduciaries (as the term fiduciary is defined under the Employee Retirement Income Security Act of 1974, as amended (ERISA), of any employee benefit plan sponsored by such persons.  None of these parties admits any liability or responsibility of any sort in connection with any matter described in this Agreement.

11.

I realize there are many laws and regulations prohibiting employment discrimination or otherwise regulating employment or claims related to employment pursuant to which I may have rights or claims.  My Waiver includes, but is not limited to claims arising under federal, state, or local laws prohibiting employment discrimination on the basis of age, race, color, national origin, gender, religion, disability, or veteran status, including but not limited to claims arising under; (1) Title VII of the Civil Rights Act of 1964, as amended, including the Equal Employment Opportunity Act of 1972; (2) the Age Discrimination in Employment Act of 1967, as amended (the “ADEA”); (3) the Americans with Disabilities Act of 1990; (4) the National Labor Relations Act, as amended; (5) the Employee Retirement Income Security Act of 1974, as amended (“ERISA”); (6) the Civil Rights Act of 1991; (7) the Worker Adjustment and Retraining Notification Act of 1988; (8) the Family and Medical Leave Act; (9) 42 U.S.C. Section 1981; (10) the Older Workers Benefit Protection Act of 1990; as amended; and (11) the Ohio Civil Rights Statute.  My Waiver extends to all such claims, even if I do not currently know or believe that a claim exists.  I intend to waive and release any rights I may have under these and other laws, and under laws of contract and tort, but I do not intend to waive nor am I waiving (A) any rights or claims that may arise under the ADEA after the date that I sign this Agreement or (B) any claim that I may have under ERISA to a vested pension benefit or (C) applicable workers compensation and unemployment benefit laws.

12.

I understand that the Company will provide me with twenty-one (21) calendar days to consider this Agreement, beginning with the date that I first received this Agreement.  During these twenty-one (21) days, I may consider whether or not to accept the Separation Benefit and to enter into this Agreement.  I understand that although I may sign this Agreement before the twenty-one (21) calendar days have elapsed, that I am under no obligation to do so.

13.

I understand that after signing this Agreement, and dating it as of my signature date, I shall have an additional seven (7) calendar days within which to revoke both this signed Agreement and my agreement to accept the Separation Benefit.  I understand that my acceptance of, and the Company’s obligation to provide the Separation Benefit shall therefore not become effective or enforceable until this seven (7) calendar day period has passed.  If I revoke this Agreement within this seven (7) calendar day period, I will give notice in writing to the Company, which I may do 

Borders Separation Release

Exhibit 10.1

by mail and by fax, to the attention of Jocelyn Koozer, Director of Human Resources.

14.

I reaffirm my agreement to comply with all prior agreements with, rules and policies of, the Company concerning proprietary, confidential and/or trade secret information of the Company.  I will hold all of the Company’s confidential information in strictest secrecy and confidence.  I will not directly or indirectly, take, use or disclose (or enable anyone else to take, use or disclose) any of the Company’s confidential information.  The terms of this Agreement shall be deemed to be confidential between the parties hereto except when obligated by law.

The Company’s confidential information includes all trade secrets, proprietary and other information that was disclosed to or acquired by me during my employment that related to the business of the Company and is not generally available to the public, or generally known to the Company’s competitors.  Confidential information includes without limitation; customer lists, requirements for products and related customer information; suppliers identities and products; bid and pricing information and product discount information pertaining to original equipment and spare parts.  Confidential information also includes any techniques, processes, or combinations thereof, compilations of information, records and specifications utilized or owned by the Company, development, marketing, business methods, strategies, policies or business opportunities.

15.

I understand the Company advises me to consult with an attorney, before I sign this Agreement.

16.

I acknowledge I have read this Agreement and that I have had an opportunity to question Company benefits personnel concerning the Separation Benefit that I will receive, following my separation.  I acknowledge that my decision to sign this Agreement is voluntary, and has been made without duress or coercion.  I understand the financial and legal implications of my Waiver and my entering into this Agreement.

17.

This Agreement shall be deemed to have been made within, and shall be interpreted, construed and enforced in accordance with the laws for the State of Ohio.  This Agreement and my Waiver are binding upon me, my successors, heirs and assigns.

18.

If one or more of the provisions or terms of this Agreement shall be ruled unenforceable, the Company may elect to enforce the remainder of this Agreement, or cancel it and get back from me, my successors or assigns or otherwise, any consideration paid.

Borders Separation Release

Exhibit 10.1

Signed by the parties on the dates indicated below.

			
	Guy Kevin Borders

	 
	/s/ GUY KEVIN BORDERS

	Print Name – Guy Kevin Borders

	 
	Signature

	 
	 
	 

	 
	 
	June 29, 2009

	 
	 
	Date of Signature

State of Ohio

:

:   SS

County of Lorain

:

On this 29th day of June 2009, before me, personally came Guy Kevin Borders, known to me to be the individual described in, and who executed the foregoing Release and Waiver and duly acknowledged to me he executed the same.

In witness whereof, I hereunto set my hand and official seal.

			
	 
	 
	/s/ NANCY M. DILLON

	 
	 
	Notary Public

Borders Separation Release

Exhibit 10.1

PECO II, Inc.

				
	John G. Heindel

	 
	By:

	/s/ JOHN G. HEINDEL

	Print Name – John G. Heindel

	 
	 
	Signature

	 
	 
	 
	 

	 
	 
	 
	 

	 
	 
	 
	Chairman/President/CEO/CFO

	 
	 
	 
	Title of Officer

	 
	 
	 
	 

	 
	 
	 
	July 6, 2009

	 
	 
	Date Accepted

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