Document:

PATENT SALE AGREEMENT

This Patent Sale Agreement (“Agreement”) is entered into on May 10, 2010 (Effective  Date) by and between P.T Holding, represented by its owner Dr. Boris Sigalov, from 31/10 Hofein Street, Holon, Israel (“Seller”), Dr. Boris Sigalov, from 31/10 Hofein Street, Holon, Israel (the "Inventor") and SolarFlex Corp., a Delaware Corporation, having its principle place of business at 113 Barksdale Professional Center, Newark, Delaware, USA 19711 ("Purchaser")

 

RECITALS

Whereas,        Purchaser desires to purchase Seller’s Patent Rights (as defined below), and Seller is willing to sell such Patent Rights to Purchaser under the terms and conditions set forth herein;

Now, Therefore, in consideration of the following mutual promises and other good and valuable consideration, the receipt and sufficiency of which is acknowledged, the parties, intending to be legally bound, agree as follows:

1. Definitions

For the purposes of this Agreement, the terms hereunder shall have the meanings as defined below:

	
1.1.1

	
“Patent Rights” shall mean the specific patent application listed in Exhibit A and any future application which claims priority of the Patent Application (the “Patent Application and/or "Patent”), the same to be held by and enjoyed by Purchaser to the full end of the term for which said Patents are granted, together with all rights of actions for past infringement thereof including the right to recover damages for said infringement.

2. Transfer of Patents and Additional Rights

2.1          Seller hereby agrees to sell, assign, transfer and convey to Purchaser all of Seller’s right, title and interest in and to the worldwide Patent Rights. This sale includes all right, title and interest of Seller in all causes of action and enforcement rights for the Patents, including all of its rights to pursue damages, injunctive relief and other remedies for past, current and future infringement of the Patent Rights.

3. Consideration

3.1          In consideration for the sale of the Patent Rights to Purchaser under this Agreement, Purchaser agrees to pay to Seller a sum equal to 10% (ten percent) of the royalties that Seller will receive in relation to the Patent for an indefinite period.

 

  

  

  

	
4.

	
Representations and Warranties

4.1          Mutual Representations and Warranties

Each party represents and warrants to the other as follows:

(a)  it has the complete and unrestricted power and right to enter into this Agreement and to perform its obligations hereunder;

(b) the execution, delivery and performance of this Agreement by such party does not conflict with any agreement, instrument or understanding, oral or written, to which such party is a party or by which such party may be bound, nor violate any law or regulation of any court, governmental body or administrative or other agency having authority over such party;

(c) all consents, approvals and authorizations from all governmental authorities, administrative or other agencies, trustees or any other persons having authority over such party required to be obtained by such party in connection with the execution and delivery of this Agreement have been obtained.

 (d) it has not entered into any agreement with any Third Party that is in conflict with the rights granted to the other party pursuant to this Agreement.

4.2          Seller and Inventor Representations and Warranties

 

(a) prior to assigning the Patent Application to the Seller, the Inventor was the true owner of all right, title and interest in and to the Patent Rights, and Inventor and Seller know of no asserted or unasserted claims of ownership of the Patent Rights by any party other than the Seller;

(b) Seller knows of no inventors of the Patent Rights other than the Inventor, and knows of no asserted or unasserted claims of inventorship of the Patent Rights by any person other than the named inventors of the Patent Rights; and

(c) Seller knows of no asserted claims of prior invention of the Patent rights by any third party.

	
5.

	
Disclaimer of Other Warranties

   

The warranties set forth in Article 5 above are provided in lieu of, and each party hereby disclaims, all other warranties, express and implied, relating to the subject matter of this Agreement, including but not limited to the implied warranties of merchantability and fitness for a particular purpose, title, validity of the patent rights, and non-infringement of third party rights.

  

  

  

 

	
6.

	
General Provisions

6.1          Paragraph Headings

  

The paragraph headings are inserted only for purposes of reference. Such captions shall not affect the scope, meaning or intent of the provisions of this Agreement nor shall such headings otherwise be given any legal effect.

6.2          Joint Drafting

Seller and Purchaser acknowledge that each has participated in the drafting and negotiation of this Agreement. For purposes of interpreting this Agreement, each provision, paragraph, sentence and word herein shall be deemed to have been jointly drafted by Seller and Purchaser. They intend for this Agreement to be construed and interpreted neutrally in accordance with the plain meaning of the language contained herein, and not presumptively construed against any actual or purported drafter or any specific language contained herein.

6.3 Forum

This Agreement and all aspects of the relationship between the parties hereto shall be construed and enforced in accordance with and governed by the laws of the State of ISRAEL. It is hereby agreed between the parties to this Agreement that all disputes arising from the terms and/or subject matter of this Agreement shall be submitted to the jurisdiction of the appropriate courts of Tel Aviv, Israel.

6.4 Notices.

Any notice, request, or communication under this Agreement shall be effective only if it is in writing and personally delivered; sent by certified mail, postage pre-paid; facsimile with receipt confirmed; or by nationally recognized overnight courier with signature required, addressed to the parties at the addresses stated below or such other persons and/or addresses as shall be furnished in writing by any party in accordance with this Section 6.4. Unless otherwise provided, all notices shall be sent:

If to Purchaser; to

SolarFlex Corp.,

113 Barksdale Professional Center,

Newark, Delaware, USA 19711

If to Seller, to:

P.T Holding

31/10 Hofein Street,

Holon,

Israel

 

  

  

  

 

If sent by facsimile transmission, the date of transmission shall be deemed to be the date on which such notice, request or communication was given. If sent by overnight courier, the next business day after the date of deposit with such courier shall be deemed to be the date on which such notice, request or communication was given. If sent by certified mail, the third business day after the date of mailing shall be deemed the date on which such notice, request or communication was given.

7.5 Entire Agreement

This Agreement, including its exhibits, constitutes the entire agreement between the parties with respect to the subject matter hereof, and merges and supersedes all prior and contemporaneous agreements, understandings, negotiations and discussions, including any letter of intent. No oral agreement or explanation by either party hereto shall alter the meaning or interpretation of this Agreement. No amendments or modifications shall be effective unless in writing signed by authorized representatives of both parties.

7.6 Counterparts

This Agreement may be executed in counterparts, each of which shall constitute an original document, but both of which shall constitute one and the same instrument.

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

	
Seller:

	
By:

	
DR BORIS SIGALOV /S/

	
Name:

	  
	
Title: OWNER AND DIRECTOR OF P.T. HOLDINGS

	  
	
MARCH 10 2010

 

	
Purchaser

	
By:

	  
	
Name: SERGEI ROGOV /S/

	
Title: CEO/DIRECTOR OF SOLARFLEX CORP

	  
	
MARCH 10 2010

 

  

  

  

 

EXHIBIT A

	
Country of filing

	 	
No. of application

	 	
Title of patent application

	  	 	  	 	  
	
Israel

	 	
198369

	 	
Solar Element and Method of manufacturing the SameUnassociated Document

Exhibit 10.7

 

SERVICES AGREEMENT

This Services Agreement (“Agreement”) is entered into this 8 day of April, 2010, by and between Blue Sphere, Corp. (the “Company”) a company registered in Nevada, USA, having its principal place of business at 35 Asuta St. Even Yehuda Israel and Alex Werber, having his principal place of business at Kohav Yeir israel (“Alex”).

	
Whereas,

	
Alex has the significant experience as Chief Financial Officer of technological companies, both private and public; and

 

	
Whereas,

	
Alex has offered his services to the Company and Company has requested to obtain such services from Alex, all as more fully described herein; and

 

Now, therefore, the parties agree as follows:

	
1.

	
Effective Date; Engagement

 

	
  

	
1.1.

	
This Agreement shall enter into effect as of April 8, 2010 (the "Effective Date").

 

	
  

	
1.2.

	
Company shall engage Alex and Alex agree to be engaged by the Company and to hold himself available to render at the request of Company, at such dates and times as shall be requested by the Company.

 

Alex agrees that if requested by the Company, he shall increase his time share provided that his terms of engagement shall be adjusted proportionally.

 

	
2.

	
Services

 

	
  

	
2.1.

	
Within the framework of this Agreement, Alex shall render his services as Chief Financial Officer (“CFO”) of the Company and its affiliated companies (the "Services"), according to the instructions and policy of the Company’s Board of Directors.

 

	
  

	
2.2.

	
Alex shall utilize the highest professional skill, diligence, ethics and care to ensure that all Services are performed to the full satisfaction of the Company and its affiliates and to provide the expertise required in connection with such services.

 

	
  

	
2.3.

	
In rendering the Services, Alex shall comply with all policies and procedures of the Company, as may be in effect from time to time.

 

	
  

	
2.4.

	
Alex represents and warrants that he acknowledges that as a CFO of the Company and its affiliates he is subject to a special degree of care and loyalty, as customarily for similar positions.

 

	
  

	
2.5.

	
In rendering the services Alex shall be subject to and/or report to the Company’s Chairman of the Board of Directors and/or Chief Executive Officer; or as otherwise instructed by such officers.

 

  

  

 

	
3.

	
Compensation

 

For and in consideration of the Services to be performed by Alex, Company agrees to pay Alex as follows:

	
  

	
3.1.

	
A total monthly fee of USD 2,000 accompanied by VAT (as specified below), (the “Fee”).

 

	
4.

	
Reports

 

Alex shall submit to the Company reports at such times as requested by the Company which shall set forth any information and data requested by the Company.

 

	
5.

	
Confidentiality

 

	
  

	
5.1.

	
Alex shall not disclose or put to his own use, or to the use of any third party, any Proprietary Information (as hereinafter defined) of the Company of which Alex has been or hereafter becomes informed, whether or not developed by the Alex. Alex shall sign a confidentiality non-competition and assignment of rights agreement as shall be designated by the Company.

 

	
  

	
5.2.

	
Alex hereby agrees and declares that without derogating from the aforesaid, all proprietary information including but not limited to trade secrets and know-how, patents and other rights in connection therewith developed by or with contribution of my efforts during the period of my engagement by the Company or as a result thereof (directly or indirectly), shall be the sole property of the Company and Alex shall have no rights therein and hereby assign any and all rights he may has, if any, to the Company for no consideration. Alex further undertakes that he shall execute any document necessary to assign any patents and/or any other intellectual property (including copyrights and/or trade secrets) to the Company and otherwise transfer such proprietary rights to the Company for no consideration. Further, any document and/or opinion prepared by Alex during the period of his engagement by the Company shall constitute a proprietary document belonging to Company and Alex shall not utilize same for any purpose and shall not introduce same to any third party, except with Company’s prior consent in writing and Alex shall have no claim and/or demand from the Company in connection with any rights as aforementioned.

 

Execution of this document by Alex shall irrevocably empower the Chairman of the Board of Directors of the Company and any other person nominated by board of directors to execute any document to give effect to the above and the said Chairman or other person so nominated shall have the right to execute any power of attorney, deed of assignment or contract to give effect to the above.

 

	
6.

	
Term and Termination

 

	
  

	
6.1.

	
The term of this Agreement shall commence as of the Effective date until terminated as provided in section ‎6.2 below.

 

  

  

 

	
  

	
6.2.

	
This Agreement may be terminated by either party, at any time, without any further obligation under this Agreement to the other party and/or any one on its behalf (other than those obligations surviving termination or expiration hereof), by 30 days prior written notice, unless terminated as a result of a material breach, in which case this Agreement may be terminated by either party immediately.

 

	
7.

	
Assurances; No Conflict

 

	
  

	
7.1.

	
Alex hereby warrants, represents and confirms to Company that on the date hereof Alex is free to be engaged by Company upon the terms contained in this Agreement and that there are no engagements, contracts, consulting contracts or restrictive covenants preventing full performance of his duties hereunder.

 

Without derogating from the aforesaid, Alex shall not perform any other work with any third party without Company’s prior written consent.

 

	
  

	
7.2.

	
Alex hereby further represents warrants and confirms that nothing in this Agreement conflicts with any of Alex's current affiliations or other current relationships with any other entity.

 

	
  

	
7.3.

	
During the term of this Agreement Alex shall promptly notify Company in writing in advance of any additional entity that he shall render consulting services to and/or engage with.

 

	
8.

	
Miscellaneous

 

	
  

	
8.1.

	
Alex shall not assign this agreement or any of his rights and privileges hereunder, whether voluntarily or by operation of law, to any person, firm or corporation without the prior written consent of the Company. Company shall be entitled to assign this Agreement to an affiliate thereof.

 

8.2 Except as otherwise provided herein, this Agreement constitutes the entire agreement between the parties with respect to the matters referred to herein, and no other arrangement, understanding or agreement, verbal or otherwise, shall be binding upon the parties hereto. This Agreement may not be amended, modified or supplemented in any respect, except by a subsequent writing executed by both parties hereto.

 

8.3 No failure, delay or forbearance of either party in exercising any power or right hereunder shall in any way restrict or diminish such party's rights and powers under this Agreement, or operate as a waiver of any breach or non-performance by either party of any of the terms or conditions hereof.

 

8.4 If any term or provision of this Agreement shall be declared invalid, illegal or unenforceable, then such term or provision shall be enforceable to the extent that a court shall deem it reasonable to enforce such term or provision and if such term or provision shall be unreasonable to enforce to any extent, such term or provision shall be severed and all remaining terms and provisions shall be unaffected and shall continue in full force and effect.

 

8.5 Any notice from one party to the other shall be effectively served if sent in writing by recorded delivery to the address of the receiving party as stated in the preamble to this agreement, unless said party informs the other party in writing on a change of address.

  

  

 

In witness whereof, the parties have hereunto set their hand upon the date first above written.

 

	 	  	 	  	 
	 	
Blue Sphere

	 	
Alex Werber

	 
	 	 	 	 	 
	 	
By:

	 	  	 
	 	 	 	 	 
	 	
Position: CEO

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