Document:

exv10w42

 

EXHIBIT 10.42

Assumption of Guarantee for Payment of

Consideration for the Transfer of Ownership Interest

On March 04, 2005 Apron, s.r.o., Id. no.: 47913304, seated at Sobolákova 309,
148 00 Praha 4, Kunratice, (hereafter “Apron”), as the Purchaser, and AESP,
Inc., seated at 1810 N.E. 144th Street, North Miami, FL 33181, U.S.A.,
(hereafter “AESP”), as the Transferor, entered into a Contract on Transfer of
Ownership Interest in INTELEK spol. s r.o., seated at Vlárská 953/22, 627 00
Brno, the Czech Republic, registered with the Commercial Register kept by the
Regional Court in Brno, Section C, Insert no. 12338, Id. no.: 49446118
(hereafter the “Company“), on the basis of which AESP has transferred to Apron
100% ownership interest in the Company (hereafter the “Contract on Transfer of
Ownership Interest “).

With regard to the above-mentioned, AESP and Ing. Ivo Kravá...ek, birth no.
610920/1461, resident at Brno, Dominikánské nám. 8, post code: 602 00,
(hereafter “Ing. Kravá...ek”) have agreed that Ing. Kravá...ek shall
pay to AESP the Consideration for the transfer of the ownership interest in the
Company in the amount of USD 540.000,- (slovy: five hundred forty thousand US
dollars), in the manner and terms stipulated in Sect. 3 of the Contract on
Transfer of Ownership Interest, by January 01, 2008 at the latest, should Apron
fail to do so as the Purchaser.

With regard to the above-mentioned, I, Ing. Ivo Kravá...ek, hereby
expressly declare to AESP that I shall pay to AESP the Consideration for the
transfer of the ownership interest in the Company in the amount of USD 540,000
(in words: five hundred forty thousand US dollars), in the manner and terms
stipulated in Sect. 3 of the Contract on Transfer of Ownership Interest, by
January 01, 2008 at the latest, should Apron fail to do so as the Purchaser.

     According to an agreement between AESP and Ing. Kravá...ek, this
Declaration of guarantee shall expire and become ineffective if the Contract on
Transfer of Ownership Interest dated March 04, 2005 is discharged for reasons
stipulated in Sect. 3 Para. 3 or Para. 4 thereof.

The participants to this Declaration confirm that they are familiar with the
contents of the Contract on Transfer of Ownership Interest.

Signed in Prague on March 4,
2005

/s/ Ivo Kravacek

Ivo Kravacek

/s/ Slav Stein

AESP, Inc.

Slav Steinexv10w43

 

EXHIBIT 10.43

TERMINATION AGREEMENT

     This Termination Agreement (“Agreement”) is made and entered into as of the 31st
day of March, 2005 (“Effective Date”), by and between AESP, Inc., f/k/a Advanced Electronic Support
Products, Inc. (“AESP”), a Florida corporation, and Slav Stein (“Stein”).

     WHEREAS, AESP and Stein are parties to that certain Employment Agreement, dated February 19,
1997 (“Employment Agreement”); and

     WHEREAS, AESP and Stein have agreed that the Employment Agreement shall be terminated
effective as of the Effective Date; and

     WHEREAS, notwithstanding the termination of the Employment Agreement, Stein shall continue as
an at-will employee of AESP following the Effective Date.

     NOW, THEREFORE, in consideration of the foregoing, the parties hereto agree as follows:

	1.  	The Employment Agreement is hereby terminated, effective as of the Effective Date. As of such
date, the parties hereby release each other from any and all obligations under the Employment
Agreement.
	 
	2.  	Notwithstanding the termination of the Employment Agreement pursuant to this Agreement,
following the Effective Date Stein shall continue to serve as an at-will employee of AESP. In
that regard, and subject to such future determinations with respect to Stein’s compensation as
may be made by the Board of Directors of AESP, Stein shall continue to earn his current annual
base salary of $198,000 per annum, shall continue to receive an automobile allowance of $500
per month and shall continue to participate in the benefit plans of the Company in which he
currently participates. Further, notwithstanding the termination of the Employment Agreement,
Stein shall continue to hold the Company stock options that he currently holds, all in
accordance with the terms of the agreements with respect to such options.
	 
	3.  	Notwithstanding the termination of the Employment Agreement pursuant to this Agreement,
following the Effective Date, AESP shall continue to indemnify Stein with respect to his
actions as an officer and director of AESP to the fullest extent provided by law, as more
particularly set forth in AESP’s articles of incorporation and by-laws.
	 
	4.  	This Agreement contains the entire understanding of the parties in respect of its subject
matter and supersedes all prior agreements and understandings (oral or written) between or
among the parties with respect to such subject matter.
	 
	5.  	The rights and obligations of this Agreement shall bind and inure to the benefit of the
parties and their respective successors and assigns.

 

 

     IN WITNESS WHEREOF, the parties have executed this Agreement the day and year first above
written.

	 	 	 	 	 
	 	 	/s/ Slav Stein
	 	 	 
	 	 	Slav Stein
	 
	 	 	 	 
	 	 	AESP, INC., a Florida corporation
	 
	 	 	 	 
	

	 	BY:
	 	/s/ John F. Wilkens
	

	 	 	 	 
	 	 	Name (print): John F. Wilkens
	 	 	Title: Chief Financial Officerexv10w44

 

EXHIBIT 10.44

TERMINATION AGREEMENT

     This Termination Agreement (“Agreement”) is made and entered into as of the 31st
day of March, 2005 (“Effective Date”), by and between AESP, Inc., f/k/a Advanced Electronic Support
Products, Inc. (“AESP”), a Florida corporation, and Roman Briskin (“Briskin”).

     WHEREAS, AESP and Briskin are parties to that certain Employment Agreement, dated February 19,
1997 (“Employment Agreement”); and

     WHEREAS, AESP and Briskin have agreed that the Employment Agreement shall be terminated
effective as of the Effective Date; and

     WHEREAS, notwithstanding the termination of the Employment Agreement, Briskin shall continue
as an at-will employee of AESP following the Effective Date.

     NOW, THEREFORE, in consideration of the foregoing, the parties hereto agree as follows:

	6.  	The Employment Agreement is hereby terminated, effective as of the Effective Date. As of such
date, the parties hereby release each other from any and all obligations under the Employment
Agreement.
	 
	7.  	Notwithstanding the termination of the Employment Agreement pursuant to this Agreement,
following the Effective Date Briskin shall continue to serve as an at-will employee of AESP.
In that regard, and subject to such future determinations with respect to Briskin’s
compensation as may be made by the Board of Directors of AESP, Briskin shall continue to earn
his current annual base salary of $198,000 per annum, shall continue to receive an automobile
allowance of $500 per month and shall continue to participate in the benefit plans of the
Company in which he currently participates. Further, notwithstanding the termination of the
Employment Agreement, Briskin shall continue to hold the Company stock options that he
currently holds, all in accordance with the terms of the agreements with respect to such
options.
	 
	8.  	Notwithstanding the termination of the Employment Agreement pursuant to this Agreement,
following the Effective Date, AESP shall continue to indemnify Briskin with respect to his
actions as an officer and director of AESP to the fullest extent provided by law, as more
particularly set forth in AESP’s articles of incorporation and by-laws.
	 
	9.  	This Agreement contains the entire understanding of the parties in respect of its subject
matter and supersedes all prior agreements and understandings (oral or written) between or
among the parties with respect to such subject matter.
	 
	10.  	The rights and obligations of this Agreement shall bind and inure to the benefit of the
parties and their respective successors and assigns.

 

 

     IN WITNESS WHEREOF, the parties have executed this Agreement the day and year first above
written.

	 	 	 	 	 	 	 
	 	 	/s/ Roman Briskin	 	 
	 	 	 	 	 
	 	 	Roman Briskin	 	 
	 
	 	 	 	 	 	 
	 	 	AESP, INC., a Florida corporation	 	 
	 
	 	 	 	 	 	 
	

	 	BY:
	 	/s/ John F. Wilkens	 	 
	

	 	 	 	 	 	 
	 	 	Name (print): John F. Wilkens

Title: Chief Financial Officerexv10w45

 

AMENDMENT 10.45

FIRST AMENDMENT TO ACCOUNT TRANSFER

AND PURCHASE AGREEMENT

     THIS FIRST AMENDMENT TO ACCOUNT TRANSFER AND PURCHASE AGREEMENT (this “Amendment”) is
entered into by and between AESP, INC., a Florida corporation (“Seller”), Slav Stein and Roman
Briskin (collectively, the “Guarantors”) and KBK FINANCIAL, INC., a Minnesota corporation (“KBK”).

     WHEREAS, Seller and KBK Financial, Inc., a Delaware corporation (“KBK Delaware”)] entered into
that certain Account Transfer and Purchase Agreement dated as of September 18, 2003, as amended
from time to time (collectively, the “Purchase Agreement”), such agreement, and all rights and
obligations thereunder, having been assigned by KBK Delaware to KBK pursuant to a Bill of Sale
dated November 24, 2003; and

     WHEREAS, pursuant to the Purchase Agreement the parties have provided for the terms and
conditions under which KBK may from time to time purchase certain of Seller’s accounts; and

     WHEREAS, the Purchase Agreement and all other documents securing, governing, guaranteeing
and/or pertaining to the Purchase Agreement are hereinafter referred to collectively as the
“Purchase Documents”; and

     WHEREAS, the parties hereto now desire to modify the Purchase Agreement as hereinafter
provided;

     NOW, THEREFORE, in consideration of the mutual covenants, representations, warranties, and
agreements contained herein, and for other valuable consideration, the receipt and legal
sufficiency of which are hereby acknowledged, the parties hereto agree as follows:

ARTICLE I

Definitions

Section 1.01 The terms used in this Amendment to the extent not otherwise defined herein shall
have the same meanings as in the Purchase Agreement.

ARTICLE II

Amendments

Section 2.01 Effective as of the date hereof, Section 1(b) of the Addendum to the Purchase
Agreement is hereby amended in its entirety to read as follows:

“Tangible Net Worth. At the end of each fiscal month, its Tangible Net Worth at not less
than Two Million Four Hundred Thousand and NO/100 dollars ($2,400,000.00).”

ARTICLE III

Representations, Warranties, Ratification and Reaffirmation

Section 3.01 Seller hereby represents and warrants that: (i) the representations and warranties
contained in the Purchase Agreement are true and correct on and as of the date hereof as though
made on and as of the date hereof, and (ii) no event has occurred and is continuing that
constitutes an Event of Default or would constitute an Event of Default but for the requirement of
notice or lapse of time or both.

Section 3.02 The terms and provisions set forth in this Amendment shall modify and supersede all
inconsistent terms and provisions set forth in the Purchase Agreement, but except as expressly
modified and superseded by this Amendment, the terms and provisions of the Purchase Agreement are
ratified and confirmed and shall continue in full force and effect, Seller hereby agreeing that the
Purchase Agreement and the other Purchase Documents are and shall continue to be outstanding,
validly existing and enforceable in accordance with their respective terms.

Section 3.03 Guarantors previously executed that certain Limited Guaranty (the “Guaranty
Agreement”) dated September 18, 2003, for the benefit of KBK to unconditionally guarantee the
payment by Seller of certain losses incurred by KBK under the

 

 

Purchase Agreement, as more fully described therein. Guarantors, by executing this Amendment,
hereby consent to this Amendment and agree that, notwithstanding the execution of this Amendment,
the Guaranty Agreement remains in full force and effect and the obligations thereunder remain valid
and binding against Guarantors.

ARTICLE IV

Miscellaneous

Section 4.01 Each of the Purchase Documents is hereby amended so that any reference in the
Purchase Documents to the Purchase Agreement shall mean a reference to the Purchase Agreement as
amended hereby.

Section 4.02 This Amendment may be executed simultaneously in one or more counterparts, each of
shall be deemed an original, but all of which together shall constitute one and the same
instrument. Delivery of an executed counterpart of this Amendment by telecopy shall be equally as
effective as delivery of a manually executed counterpart of this Amendment. Any party delivering
an executed counterpart of this Amendment by telecopy also shall deliver a manually executed
counterpart of this Amendment but the failure to deliver a manually executed counterpart shall not
affect the validity, enforceability, and binding effect of this Amendment.

Section 4.03 The Agreement and this Amendment have been entered into in Tarrant County, Texas and
shall be performable for all purposes in, Tarrant County, Texas. THE AGREEMENT, AS AMENDED HEREBY,
SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF TEXAS. Courts
within the State of Texas shall have jurisdiction over any and all disputes arising under or
pertaining to the Agreement, as amended hereby, and venue in any such dispute shall be the courts
located in Tarrant County, Texas.

Section 4.04 This Amendment shall not become effective until executed by KBK.

Section 4.05 SELLER AND GUARANTORS EACH HEREBY ACKNOWLEDGES THAT IT HAS NO DEFENSE,
COUNTERCLAIM, OFFSET, CROSS-COMPLAINT, CLAIM OR DEMAND OF ANY KIND OR NATURE WHATSOEVER THAT CAN BE
ASSERTED TO REDUCE OR ELIMINATE ALL OR ANY PART OF ITS LIABILITY TO REPAY THE INDEBTEDNESS AND
OBLIGATIONS NOW OR HEREAFTER OWING BY SELLER AND GUARANORS TO KBK OR TO SEEK AFFIRMATIVE RELIEF OR
DAMAGES OF ANY KIND OR NATURE FROM KBK. SELLER AND GUARANTORS EACH HEREBY VOLUNTARILY AND KNOWINGLY
RELEASES AND FOREVER DISCHARGES KBK, ITS PREDECESSORS, AGENTS, EMPLOYEES, SUCCESSORS AND ASSIGNS,
FROM ALL POSSIBLE CLAIMS, DEMANDS, ACTIONS, CAUSES OF ACTION, DAMAGES, COSTS, EXPENSES, AND
LIABILITIES WHATSOEVER, KNOWN OR UNKNOWN, ANTICIPATED OR UNANTICIPATED, SUSPECTED OR UNSUSPECTED,
FIXED, CONTINGENT, OR CONDITIONAL, AT LAW OR IN EQUITY, ORIGINATING IN WHOLE OR IN PART ON OR
BEFORE THE DATE THIS AMENDMENT IS EXECUTED, WHICH SELLER AND GUARANTORS MAY NOW OR HEREAFTER HAVE
AGAINST KBK, ITS PREDECESSORS, AGENTS, EMPLOYEES, SUCCESSORS AND ASSIGNS, IF ANY, AND IRRESPECTIVE
OF WHETHER ANY SUCH CLAIMS ARISE OUT OF CONTRACT, TORT, VIOLATION OF LAW OR REGULATIONS, OR
OTHERWISE, INCLUDING WITHOUT LIMITATION, ANY SUCH CLAIMS ARISING FROM THE CONTRACTING FOR,
CHARGING, TAKING, RESERVING, COLLECTING OR RECEIVING INTEREST IN EXCESS OF THE HIGHEST LAWFUL RATE
APPLICABLE, THE EXERCISE OF ANY RIGHTS AND REMEDIES UNDER THE PURCHASE AGREEMENT OR OTHER PURCHASE
DOCUMENTS, AND THE NEGOTIATION FOR AND EXECUTION OF THIS AMENDMENT.

Section 4.6 THE PURCHASE AGREEMENT AND THE OTHER PURCHASE DOCUMENTS, EACH AS AMENDED
HEREBY, REPRESENT THE FINAL AGREEMENT BETWEEN THE PARTIES HERETO WITH RESPECT TO THE TRANSACTIONS
CONTEMPLATED HEREIN AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS, OR
SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES. THERE ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN THE
PARTIES.

Section 4.07 Seller agrees to pay KBK a fee equal to $1,000.00 contemporaneously with the
effectiveness of this Amendment in consideration of the financial accommodations provided by KBK to
Seller contained herein.

     EXECUTED as of March 23, 2004.

 

 

	 	 	 	 	 	 	 
	 	 	SELLER:	 	 
	 
	 	 	 	 	 	 
	 	 	AESP, INC.	 	 
	 
	 	 	 	 	 	 
	

	 	By:
	 	/s/ Slav Stein	 	 
	

	 	 	 	 	 	 
	

	 	Name:
	 	Slav Stein	 	 
	

	 	Title:
	 	President & CEO	 	 
	 	 	GUARANTORS:	 	 
	 
	 	 	 	 	 	 
	 	 	/s/ Slav Stein	 	 
	 	 	 	 	 
	 	 	SLAV STEIN	 	 
	 
	 	 	 	 	 	 
	 	 	/s/ Roman Briskin	 	 
	 	 	 	 	 
	 	 	ROMAN BRISKIN	 	 
	 
	 	 	 	 	 	 
	

	 	KBK:	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	KBK FINANCIAL, INC.	 
	 
	

	 	By:
	 	/s/ Ramona Ledbetter	 	 
	

	 	 	 	 	 	 
	

	 	Name:
	 	Ramona Ledbetter	 	 
	

	 	Title:
	 	Legal Administrator

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00084-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00084-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00084-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00084-of-00352.parquet"}]]