Document:

exhibit10_1.htm

    
      
         

      

      
        Execution Copy  

        
          

        

      

      
         

      

    

    Loan
Agreement

    

    Dated
as of April ___, 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:
      jackronnel@my-homi.com;
      with a copy to Reif & Reif Law Offices, 17-4 Yitzchak Rabin Rd., Bet
      Shemesh 99585, Israel, Fax: +972-2-999-7993, e-mail: Mail@ReifLaw.com
      (the “Borrower”);

            

    

    

    
      	
              And:

            	
              Daniel Cohen, of 10 Iris
      Street, PO Box 4591, Caesarea 30889, Israel (the “Lender”);

            

    

    

    
      	
              Whereas:

            	
              Borrower
      requires immediate funds, which, in the current economic climate, it has
      not been able to obtain in a timely manner from banking institutions, as
      interim financing until receipt of the proceeds which it anticipates
      receiving from the rights offering which was approved by Borrower’s Board
      of Directors on March 26, 2009 and which Borrower expects to proceed as
      soon as an appropriate SEC Registration Statement becomes effective (forms
      are currently being drafted by Borrower’s US Legal Counsel) (the “Rights Offering”);
      and

            

    

     

    
      	
              Whereas:

            	
              Borrower
      has requested that Lender, who holds office as President of Borrower,
      assist Borrower by agreeing to loan such funds to Borrower in the amount
      and under the terms set forth in this Agreement below;
  and

            

    

     

    
      	
              Whereas:

            	
              Lender
      is willing to make a loan to Borrower, all subject to and in accordance
      with the terms of this Agreement;

            

    

     

     

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

     

    
      	
              1.  

            	
              The
      Loan

            

    

     

    
      	
              1.1  

            	
              Upon
      the terms and conditions set forth in this Agreement, Lender agrees to
      loan to Borrower the principal amount of $150,000.- (one hundred and fifty
      thousand US Dollars) (the “Loan”).

            

    

     

    
      	
              1.2  

            	
              The
      Loan will be made available to Borrower within 3 business days of the date
      hereof (hereinafter: the “Loan Date”), by means of
      SWIFT wire transfer to Borrower’s account No. 0605079633 at HSBC Republic
      Bank, a division of HSBC Bank USA, in the branch located at 452, Fifth
      Avenue, New York, NY 10018.

            

    

     

    
      	
              2.  

            	
              Interest

            

    

     

    
      	
              2.1  

            	
              Borrower
      shall pay interest on the entire outstanding balance of the Loan,
      commencing as of the Loan Date, at the rate of 6% per annum (the “Interest”).

            

    

     

    
      	
              2.2  

            	
              On
      the Repayment Date (as defined below), Borrower shall pay to Lender all of
      the Interest that has accrued and is outstanding on the Loan up until that
      date.

            

    

     

    
      	
              3.  

            	
              Repayment

            

    

     

    
      	
              3.1  

            	
              Borrower
      shall repay the entire Loan, with all accrued Interest, in a single, cash
      payment to Lender, no later than the 4 month anniversary of the Loan Date
      (the “Repayment
      Date”).

            

    

     

    
      	
              3.2  

            	
              Notwithstanding
      the foregoing, and notwithstanding Lender’s declaration that, as at the
      date hereof, he would prefer for the Loan to be repaid in cash, Lender
      nevertheless agrees that Borrower may elect to effect repayment of any
      part, or all, of the Loan and/or accrued Interest, to Lender, no later
      than the Repayment Date, by means of the issue to Lender of shares of
      Borrower’s common stock. The purchase price of each share so issued shall
      be deemed to be the same price per share as in the Rights Offering (the
      “Price Per
      Share”), such that the outstanding balance of the Loan plus accrued
      Interest shall be reduced, at the time of issue of such shares, by the
      quantity of shares so issued multiplied by the Price Per Share. If, for
      example, the Price Per Share is $0.04 and if the Repayment Date falls
      exactly on the 4 month anniversary of the Loan Date, and the outstanding
      balance of the Loan plus the accrued Interest is $153,000, then the issue,
      on that date, of 3,825,000 shares of Borrower’s common stock, to Lender’s
      order, as set forth herein, would constitute full repayment of the Loan
      and all accrued Interest.

            

    

     

    
      
         

      

      
        
          
            2

             

             

            Loan
Agreement: HOMI - Cohen

            Execution
Copy

          

        

        
          

        

      

      
         

      

    

    For
any sums that may be payable by Lender in the Rights Offering, in respect of
shares which Lender may subscribe for in such Rights Offering, up to the total
amount then owed by Borrower to Lender under this Agreement, Lender, or
Borrower, may elect, by written notice to the other, that such sums be offset
against the outstanding balance of the Loan and accrued Interest then owed to
Lender.

     

    
      	
              3.3  

            	
              If
      Borrower elects to repay any part of the Loan and/or accrued Interest by
      means of the issue of shares as set forth in Section 3.2 above, then the
      shares must be duly issued in Lender’s name, or to his order, and
      registered in Lender’s name, or to his order, in Borrower’s share
      register, and duly executed share certificates must be delivered to
      Lender, or to his order, all no later than the Repayment
    Date.

            

    

     

    
      	
              3.4  

            	
              For
      avoidance of any doubt, Borrower undertakes to fully repay the Loan and
      all accrued Interest, no later than the Repayment Date, either by means of
      a cash payment as set forth in Section 3.1 above, or by means of a share
      issue, as set forth in Sections 3.2 and 3.3 above, or by means of a
      combination of such cash payment and such share
  issue.

            

    

     

    
      	
              3.5  

            	
              Borrower
      may at any time prepay to Lender, pari passu, any part of the outstanding
      balance of the Loan and accrued Interest, by any of the methods set forth
      in Section 3.4 above.

            

    

     

    
      	
              3.6  

            	
              Without
      derogating from any statutory remedies and/or other remedies available
      under the terms of this Agreement, if Borrower is in default under this
      Agreement and does not fully repay the Loan and accrued Interest in the
      manner set forth above, no later than the Repayment Date, then Lender
      shall be entitled to elect, by means of written notice to Borrower,
      whether repayment of the outstanding balance of the Loan and accrued
      Interest must be made by means of cash payment, or by means of share issue
      under the principles outlined above, or by a combination of these methods,
      and Borrower undertakes to comply with such election by
      Lender.

            

    

     

    
      	
              4.  

            	
              Late
      Payment

            

    

     

    Without
derogating from any statutory remedies and/or other remedies available under the
terms of this Agreement, any sums not paid by Borrower at the appointed time
under this Agreement shall be  subject to interest at the highest rate
of interest then charged by Bank Leumi of Israel in respect of Dollar sums
overdrawn beyond an agreed credit facility, such interest to accrue from the
date payment was originally due until the date of actual payment; this interest
rate shall initially be determined on the date payment was originally due, and
thereafter monthly until the date of actual payment. Nothing in this Section 4 may be construed in any way as derogating
from Borrower’s undertaking and obligation to repay the Loan and pay the
Interest as set forth above. Arrears interest accruing pursuant to the terms of
this Section 4 shall, for all intents and purposes, be deemed part of the
Interest, as defined herein.

     

    
      	
              5.  

            	
              Specified Purpose of
      Loan

            

    

     

    
      	
              5.1  

            	
              The
      Parties hereby confirm and agree that Borrower requested the Loan for the
      sole purpose of using all of said Loan to finance its activity in the
      ordinary course of business, including making financing available to one
      or more of its subsidiaries, to finance their activity in the ordinary
      course of business (the “Specified
      Purpose”).

            

    

     

    
      	
              5.2  

            	
              Borrower
      hereby undertakes to use the Loan solely for the Specified Purpose and not
      to use any part of the Loan for any purpose other than the Specified
      Purpose.

            

    

     

    
      
         

      

      
        
          3

           

          
            
              Loan
Agreement: HOMI - Cohen

              Execution
Copy

            

          

        

        
          

        

      

      
         

      

    

     

    
      	
              5.3  

            	
              Borrower
      hereby recognizes and acknowledges that Lender’s consent to make the Loan
      to Borrower in accordance with the terms hereof is inter alia subject to
      and in reliance upon Borrower’s undertaking as set forth in Section 5.2
      above, which is a fundamental condition of this
  Agreement.

            

    

     

    
      	
              6.  

            	
              Borrower’s General
      Covenants

            

    

     

    
      	
              6.1  

            	
              Borrower
      shall keep proper records and books of account in accordance with
      generally accepted accounting principles consistently applied, and shall
      maintain, preserve and keep all of its properties and assets in good
      working order and condition, subject to ordinary wear and
      tear.

            

    

     

    
      	
              6.2  

            	
              Borrower
      shall conduct its affairs in such manner as is appropriate for a public
      company whose shares are traded on the New York OTCBB, and in accordance
      with all laws and regulations by which it is
  bound.

            

    

     

    
      	
              6.3  

            	
              Other
      than in the ordinary course of business or otherwise as agreed to in
      writing by the Lender, on a case by case basis, Borrower shall not create,
      incur, or assume any indebtedness, nor shall it create incur, assume or
      suffer any mortgage, pledge, lien, security interest, charge or
      encumbrance of any kind or nature in or upon any of its property or
      assets, whether now owned or hereafter acquired, nor shall it sell, lease,
      assign, transfer or otherwise dispose of any of its assets, including its
      accounts receivable.

            

    

     

    
      	
              7.  

            	
              Representations and
      Warranties

            

    

     

    Borrower
hereby represents and warrants to Lender as follows:

     

    
      	
              7.1  

            	
              that
      it is duly organized and existing under the laws of the jurisdiction in
      which it was incorporated, with the requisite corporate or other power to
      own and operate its properties and assets, and to carry on its business as
      presently conducted and to execute and perform its obligations under this
      Agreement;

            

    

     

    
      	
              7.2  

            	
              that
      this Agreement is valid and binding upon it and it is bound by it and
      obliged to act in accordance with its terms; and that the execution and
      performance by it of this Agreement, and compliance therewith, and the
      consummation of
      the transactions contemplated by this Agreement will not result in any
      violation of and will not conflict with, or result in a breach of any of
      the terms of, or constitute a default under, any document, other
      obligation, law, regulation or order to which it is or will be party or by
      which it is or will be bound;

            

    

     

    
      	
              7.3  

            	
              that
      all actions on its part and on the part of its directors, required for the
      authorization, execution, and performance by it, of this Agreement, and
      the consummation of all the transactions contemplated herein, have been
      obtained, or that they will be obtained within 30 days of the date hereof
      and until such time as they are obtained no use will be made of the Loan,
      which will, until such time, be deemed held in trust for Lender by
      Borrower;

            

    

     

    
      	
              7.4  

            	
              that
      this Agreement and the entire contents thereof do not require that any
      notice be made to any authorities, other than
      notice which has already been made by Borrower or which will be made by
      Borrower in a timely manner (such as a Form 8-K), in accordance with all
      laws and regulations by which Borrower is bound, in accordance with
      directions which Borrower will receive from its US Legal
      Counsel.

            

    

     

    
      	
              8.  

            	
              Events of
      Default

            

    

     

    The
occurrence and continuation of any of the following events shall be considered
an Event of Default upon the occurrence of which the entire unpaid balance of
the Loan and Interest, and all reasonable costs of collection, including
reasonable attorney fees and expenses, shall become immediately due and
payable:

     

    
      	
              8.1  

            	
              Borrower
      shall fail to make any payment which it is obliged to make under the terms
      of this Agreement and such failure is not fully remedied within thirty
      (30) days after the occurrence
thereof;

            

    

     

    
      	
              8.2  

            	
              for the avoidance of doubt it
      is hereby stipulated and emphasized that it is the fundamental obligation
      and undertaking of Borrower to repay the Loan and pay the Interest, in
      their entirety, on the Repayment Date, and that failure by Borrower to
      repay the Loan and pay the Interest, in their entirety, on the Repayment
      Date, shall be considered an Event of Default, regardless of the reason
      for such failure, and without Lender being required to deliver any kind of
      notice to Borrower;

            

    

     

    
      
         

      

      
        
          4

           

          
            
              Loan
Agreement: HOMI - Cohen

              Execution
Copy

            

          

        

        
          

        

      

      
         

      

    

     

    
      	
              8.3  

            	
              Borrower
      shall default in the performance of any material covenant or obligation
      contained herein or in any other agreement, debenture, pledge, promissory
      note or other instrument of indebtedness with Lender and such default is
      not remedied within thirty (30) days after the occurrence
      thereof;

            

    

     

    
      	
              8.4  

            	
              Borrower
      uses and/or attempts and/or permits use of the Loan, or any part thereof,
      for any purpose other than the Specified
  Purpose;

            

    

     

    
      	
              8.5  

            	
              any
      representation or warranty made by or on behalf of Borrower to Lender,
      howsoever in connection with the Loan and/or this Agreement, shall at any
      time prove to have been incorrect or
misleading;

            

    

     

    
      	
              8.6  

            	
              any
      judgment materially affecting the ability of Borrower to repay the Loan
      and pay the Interest shall be entered against Borrower or any attachment,
      levy or execution against a substantial portion of its properties shall
      remain unpaid, or shall not be released, discharged, dismissed, suspended
      or stayed for a period of thirty (30) days or more after its entry, issue
      or levy, as the case may be;

            

    

     

    
      	
              8.7  

            	
              any
      proceedings seeking to declare Borrower bankrupt, or insolvent, or seeking
      liquidation, winding up, reorganization, arrangement with creditors,
      composition of debts or any other similar proceedings shall be initiated
      against Borrower, and such proceeding shall not be dismissed within thirty
      (30) days;

            

    

     

    
      	
              8.8  

            	
              any
      event shall occur materially affecting the ability of Borrower to repay
      the Loan and pay the Interest under the terms of this
      Agreement.

            

    

     

    
      	
              9.  

            	
              Miscellaneous

            

    

     

    
      	
              9.1  

            	
              In
      view of the fact that Lender is a shareholder in Borrower and holds office
      as a Director and as President of Borrower, Lender hereby agrees that, so
      long as he owns more than 1% of Borrower’s issued and outstanding share
      capital or is a member of Borrower’s Board of Directors or management, he
      will not participate in any vote taken by any of the organs within
      Borrower’s corporate structure in connection with this Agreement. This
      clause is in addition to, and without derogating from, the provisions of
      applicable law that may apply to this Agreement in connection with its
      being an agreement between a corporation and individuals who are
      shareholders and directors of that
corporation.

            

    

     

    
      	
              9.2  

            	
              Lender
      shall be entitled, at any time and without requiring the consent of
      Borrower or any other individual, to assign all or any part of his rights
      under this Agreement, to any other entity. Borrower shall not be entitled
      to assign all or any part of its rights and/or obligations under this
      Agreement, without Lender’s advance written
  consent.

            

    

     

    
      	
              9.3  

            	
              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.

            

    

     

    
      	
              9.4  

            	
              As
      used in this Agreement, the term “including”, and all derivations thereof,
      shall mean “including, without limitation”, unless expressly stipulated to
      the contrary. Where the context permits, use of the singular number
      includes the plural and vice versa and words denoting any gender shall
      include all genders. The Preamble, and any Appendices, Exhibits or
      Schedules to this Agreement, constitute an integral part hereof. Section
      headings are for convenience purposes only, and may not be used in the
      construction or interpretation of this
  Agreement.

            

    

     

    
      	
              9.5  

            	
              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.

            

    

     

    
      
         

      

      
        
          5

           

          
            
              Loan
Agreement: HOMI - Cohen

              Execution
Copy

            

          

        

        
          

        

      

      
         

      

    

     

    
      	
              9.6  

            	
              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.

            

    

     

    
      	
              9.7  

            	
              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.

            

    

     

    
      	
              9.8  

            	
              This
      Agreement shall be governed by and construed in accordance with the laws
      of Israel, without regard to its rules of conflict of laws. The parties
      hereby agree and submit to the exclusive jurisdiction of the competent
      courts in the city of Tel-Aviv, with respect to any claim or dispute
      arising out of and/or in connection with this Agreement. For this purpose,
      Borrower hereby gives notice that an address for service of court papers
      in any action relating to this Agreement shall be c/o HOMI Israel Ltd.,
      Gav-Yam Center, Building #3, 3rd Floor, 9 Shenkar Street, Herzliya Pituach
      46725, Israel.

            

    

     

    
      	
              9.9  

            	
              Notices
      sent by one party to the other under this Agreement will be sent by
      registered mail to the addresses specified herein, delivered by hand, or
      transmitted by fax and will be deemed to have reached their destination
      within 5 days of being deposited with the Post Office for dispatch as
      registered mail (10 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.

            

    

     

    
      	
              9.10  

            	
              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

     

    Loan Agreement on the date
first above written:

     

    

    
      	
              SIGNED
      for and on behalf of

            	
              )

            
	
              Hotel
      Outsource Management International, Inc.

            	
              )

            
	 
      	
              )

            
	
              By:

            	
              )

            
	 
      	 
      
	
              SIGNED
      by:

            	
              )

            
	
              Daniel
      Cohen

            	
              )ex10-1.htm

     

    
      

      
ASSET PURCHASE
AGREEMENT

    
      

      This
Asset Purchase Agreement (“Agreement”) is made as of this 20th day of April,
2009 by and between Kinder Travel, Inc., a Nevada corporation (the “Seller”) and
Dirk Holzhauer, a resident of British Columbia, Canada (the
“Buyer”).

      

      RECITALS

      

      A.           WHEREAS,
Seller is engaged in the sale of travel related products. Sales are generated
from the principal office located in the Province of British Columbia, Canada
(the “Business”).

      

      B.           WHEREAS,
Seller desires to sell to Buyer, and Buyer desires to purchase from Seller, the
assets, liabilities and property described herein (the “Business”).

      

      AGREEMENTS

      

      Therefore,
for good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the parties agree as follows:

      

      1.           Transaction. Upon the
Closing hereof (as defined in Section 7 below), the Seller shall transfer and
deliver to the Buyer all of the of the “Purchased Assets” (as defined in section
2 below) in exchange for which the Buyer shall return to Seller 191,631 shares
of Seller’s common stock owned by Buyer on the terms and subject to the
conditions specified in this Agreement;

      

      2.           Purchased
Assets.  The term “Purchased Assets” shall mean all assets of
the Business, including, but not limited to the following:

      

      (a)           Seller’s
suppliers, customer and vendor lists and records pertaining
thereto;

      

      (b)           The
trade name “Kinder Travel,” “Kinder Travel & Tours,” “Envoy Travel,” and any
related trade names;

      

      (c)           All
registered and unregistered trademarks, service marks, sales marks, colors,
names and slogans relating to the Business, and all applications for any of the
foregoing, together with all of the Seller’s rights to use all of the foregoing
forever, and all goodwill associated with the foregoing;

      

      (d)           The
existing phone number(s) and web-sites of the Business;

      

      (e)           All
assets referred to or referenced within the financial statements of the Business
as of the date of Closing with adjustments for non-Business related
transactions, an example of which is set forth at Exhibit A attached hereto and
incorporated herein by this reference;

      

      (f)           Any
and all trade secrets, trade practices, décor, goodwill, clients, equipment,
furniture, assets, machinery, trade fixtures, miscellaneous supplies, inventory,
existing contracts and tangible personal property; and

      

      (g)           Any
other necessary items needed to fully transfer the entire Business to
Buyer.

      

      3.           Liabilities.  All
liabilities referred to or referenced within the financial statements of the
Business as of the date of Closing with adjustments for non-Business related
transactions shall be assumed by and shall become the responsibility of the
Buyer following the Closing (as defined below).

      

      4.           Purchase
Price.  In consideration of the sale, transfer and assignment
to the Buyer of the Business, the Buyer shall, at Closing, retire an aggregate
of one hundred and ninety-one thousand, six hundred and thirty-one (191,631)
shares of common stock of the Seller (the "Payment Shares") which equals
fifty-seven thousand, four hundred and eighty-nine US Dollars (USD 57,489) based
on the last closing price of the Shares of $0.30 per share as reported by the OTC Bulletin Board on October
8, 2008 (hereinafter referred to as the “Purchase
Price”).  The parties agree that the “Purchase Price” will be
calculated as the midpoint between the two valuations of the business using the
“Tangible Asset” and “Industry Multiplier” valuation methods as of December 31,
2008 as determined by the audited financial statements of the Company filed with
the US Securities and Exchange Commission on April 13, 2009. This calculation is
provided in Exhibit A attached hereto.

      

      
        
           

        

        
          1

          
            

          

        

        
           

        

      

      5.           Manner of Payment of the
Purchase Price.  Buyer is paying the Purchase Price by
delivering to the Seller (i) a signature guaranteed stock power executed in
blank, (ii) share certificates with a face value equal to an aggregate of at
least the same as the Purchase Shares as defined in Section 4, and (iii)
irrevocable instructions addressed to the transfer agent of the Seller to retire
the Purchase Shares and issue a certificate for the balance, if any, to the
Buyer.

      

      6.           Subject to Shareholder
Approval.  This Agreement is subject to approval by written
consent of the shareholders of the Seller who hold a majority of the total
issued and outstanding shares of common stock of the Seller. The Buyer
understands that without such approval this Agreement will be
terminated.

      

      7.           The Closing. The term
“Close,” “Closing,” “Closes” or “Closed” shall refer to the Closing of the
various transactions contemplated hereby, all of which shall be deemed
consummated when, and only when, the terms and conditions as set forth herein
have been fully complied with.

      

      8.           Conduct and Transactions of
Seller Prior to the Closing. In order to assure protection and
preservation of the Business, the Seller agrees that from the date of this
Agreement up to and including the Closing:

      

      (a)           The
Seller shall preserve, or cause to be preserved substantially intact, its
business organization, except such changes as may be required, with the Buyer's
consent, to effect the transactions contemplated hereby, and the Seller shall
use its best efforts to keep available the services of its present officers and
principal employees, and to preserve its existing business
relationships.

      

      (b)           The
Seller agrees that prior to Closing it will not, without the prior written
consent of the Buyer (which consent shall not be unreasonably
withheld):

      

      (i)           Merge
or consolidate, or sell all or substantially all of its assets or enter into any
agreement for such merger, consolidation, or sale of assets, except as required
by the transactions contemplated by this Agreement;

      

      (ii)           Change
the character of its business;

      

      (iii)           Except
in the ordinary course of business, waive any contractual rights of substantial
value; and

      

      (iv)           Breach
any agreement to which the Seller is a party if such breach would have a
material adverse effect on the business of the Seller.

      

      (c)           The
Seller will exert its best efforts to fulfill in a timely manner all objectives
and conditions to permit consummation of the transactions as contemplated and
execute and deliver to the Buyer any and all documents necessary to consummate
the transactions contemplated by this Agreement.

      

      9.           Conduct and Transactions by
the Buyer Prior to Closing. Between the date of this Agreement and the
Closing, the Buyer shall use its best efforts to fulfill in a timely manner all
objectives and conditions to permit consummation of the transactions as
contemplated herein and execute and deliver to the Seller any and all documents
necessary to consummate the transactions contemplated by this
Agreement.

      

      10.           Conditions
Precedent.

      

      (a)           Neither
the Buyer nor the Seller shall have (i) made a general assignment for the
benefit of creditors, (ii) filed a petition in bankruptcy, or been adjudicated a
bankrupt or insolvent, (iii) filed a petition seeking any reorganization,
arrangement, imposition, readjustment, liquidation, dissolution or similar
relief under any present or future bankruptcy or similar statute, law or
regulations, (iv) filed an answer admitting or not contesting the material
allegations of a petition against it in any such proceeding, or (v) sought or
consented to or acquiesced in the appointment of any trustee, receiver, or
liquidator of any material part of its properties.

      

      
        
           

        

        
          2

          
            

          

        

        
           

        

      

      (b)           There
shall not be pending any suit or action seeking to enjoin the transactions
contemplated by this Agreement nor shall any judgment, temporary restraining
order, injunction or similar relief restraining or inhibiting such transaction
have been issued by any court or governmental agency (other than any suit or
action with respect to which it is not reasonable to believe that the
transactions contemplated by this Agreement may be enjoined). If any request for
an injunction in connection with the transactions contemplated by this Agreement
is scheduled to be heard, the Closing shall not take place until after the
disposition of such request. If an injunction is granted, either party may
terminate this Agreement.

      

      11.           Closing
Deliveries.  On the date hereof the parties are executing
and/or delivering such documents as are reasonably required in order to
effectuate the consummation of the transaction contemplated hereby.

      

      12.           Taxes. The parties
hereto have been advised and have agreed to seek independent counsel regarding
the tax consequences and liabilities that may arise upon the Closing of this
Agreement.

      

      13.           Further
Assurances.  The parties shall execute such further documents,
and perform such further acts, as may be necessary to transfer and convey the
Purchased Assets to Buyer, on the terms herein contained, and to otherwise
comply with the terms of this Agreement and to consummate the transaction
contemplated hereby.

      

      14.           Miscellaneous.

      

      a           Entire
Agreement.  This Agreement and the instruments to be delivered
by the parties pursuant to the provisions hereof constitute the entire agreement
between the parties.

      

      b.           Survival;
Nonwaiver.  All representations and warranties shall survive
the consummation of the transaction contemplated herein and for a period of two
(2) years following the date hereof (and none shall merge into any instrument of
conveyance) regardless of any investigation or lack of investigation by any of
the parties hereto.  The failure in any one or more instances of a
party to insist upon performance of any of the terms, covenants or conditions of
this Agreement, to exercise any right or privilege in this Agreement conferred,
or the waiver by said party of any breach of any of the terms, covenants or
conditions of this Agreement, shall not be construed as a subsequent waiver of
any such terms, covenants, conditions, right or privileges, but the same shall
continue and remain in full force and effect as if no such forbearance or waiver
had occurred.  No waiver shall be effective unless it is in writing
and signed by an authorized representative of the waiving party.

      

      c.           Applicable
Law.  This Agreement shall be governed and controlled as to
validity, enforcement, interpretation, construction, effect and in all other
respects by the internal laws of the State of Nevada applicable to contracts
made in that State, without regard to any conflict of law principles of the
State of Nevada.  Buyer and Seller irrevocably consent and submit to
the exclusive jurisdiction of any local, state or federal court State of Nevada
for enforcement of this Agreement.  Buyer and Seller irrevocably waive
any objection they may have to venue in the defense of an inconvenient forum to
the maintenance of such actions or proceedings to enforce this
Agreement.

      

      d.           Binding
Effect.  This Agreement shall inure to the benefit of and be
binding upon the parties hereto and their successors and permitted
assigns.  Nothing in this Agreement, express or implied, is intended
to confer on any person other than the parties hereto, and their respective
successors and permitted assigns any rights, remedies, obligations or
liabilities under or by reason of this Agreement.

      

      e.           Amendments.  This
Agreement shall not be modified or amended except pursuant to an instrument in
writing executed and delivered on behalf of each of the parties
hereto.

      

      
        
           

        

        
          3

          
            

          

        

        
           

        

      

      f.           Headings.  The
headings contained in this Agreement are for convenience of reference only and
shall not affect the meaning or interpretation of this Agreement.

      

      g.           Severability.  Whenever
possible, each provision of this Agreement shall be interpreted in such manner
as to be effective and valid under applicable law, but if any provision of this
Agreement is held to be invalid, illegal or unenforceable in any respect under
any applicable law or rule in any jurisdiction, such invalidity, illegality or
unenforceability shall not affect any other provision or any other jurisdiction,
and this Agreement shall be reformed, construed and enforced in such
jurisdiction so as to best give effect to the intent of the parties under this
Agreement.

      

      h.           Counterparts.  This
Agreement may be executed in separate counterparts, each of which is deemed to
be an original and all of which taken together constitute one and the same
agreement.

      

      i.           No Strict
Construction.  The parties hereto jointly participated in the
negotiation and drafting of this Agreement.  The language used in this
Agreement shall be deemed to be the language chosen by the parties hereto to
express their collective mutual intent, this Agreement shall be construed as if
drafted jointly by the parties hereto, and no rule of strict construction shall
be applied against any person or entity.

      

      j.           Interpretation.  Whenever
the term “include” or “including” is used in this Agreement, it shall mean
“including, without limitation,” (whether or not such language is specifically
set forth) and shall not be deemed to limit the range of possibilities to those
items specifically enumerated.  The words “hereof”, “herein” and
“hereunder” and words of similar import refer to this Agreement as a whole and
not to any particular provision. Terms defined in the singular have a comparable
meaning when used in the plural and vice versa.

      

      k.           Attorneys' Fees. In
the event that either party hereto brings an action or proceeding against the
other party to enforce or interpret any of the covenants, conditions, agreements
or provisions of this Agreement, the prevailing party in such action or
proceeding shall be entitled to recover all costs and expenses of such action or
proceeding, including, without limitation, reasonable attorneys' fees, charges
and disbursements actually incurred, and the reasonable fees and costs of expert
witnesses actually incurred.

      

      

      IN WITNESS WHEREOF, the
parties have executed this Asset Purchase Agreement on the date first
above
written.

       

      
        	BUYER:	 	SELLER:	 
	_________________________	 	_________________________	 
	Dirk
    Holzhauer	 	Aaron Whiteman,
      President	 

      

      

        
          
             

          

          
            4

            
              

            

          

           

        
Exhibit
A

      Valuation
of Travel Business of Kinder Travel Inc.

      

      Valuation
by Tangible Asset Method

      The
Balance Sheet Tangible Asset Method of business valuation is typically used for
businesses that are losing money.  Selling such a business is often a
methd of getting the best possible price for the equipment, inventory, or other
assets of the business.  Kinder Travel has at best broken even since
inception and sales for the past three years have been on a steady decline.
Therefore, this business falls within the category of a business where this
method would be considered appropriate.

      

      Therefore,
based on the December 31, 2008 Balance Sheet of the Company included with
the Company’s Form 10-K Annual Report as filed with US Securities and Exchange
Commission on April 13, 2009, the tangible assets of the business are as
follows:

      

      
        
          	
                  Cash
      on deposit at financial institutions

                	 	$	21,220	 
	
                  Net
      Book Value of Vehicles and Equipment

                	 	 	21,957	 
	
                  Travel
      Agency Bond

                	 	 	15,000	 
	
                  Valuation
      - Tangible Asset Method (CDN Dollars)

                	 	$	58,177	 

        

      

       

      Valuation
by Industry Multiplier Method

      The
Industry Multipler (or Rule-of-Thumb) Method of business valuation looks at a
series of past business acquisitions in the same industry to determine what
multiplier of gross revenue was used to valuate the business. According to the
"Business Reference Guide" published by Business Brokerage Press, the
multiplier for the travel industry should fall between 40% - 60% of annual
commissions. Kinder Travel Inc.'s annual commissions have declined steadily for
the past 3 years which would indicate that a multiplier at the low end of this
range would be the most appropriate.

      

      Therefore,
taking an average of the past 3 years commission revenue as determined from the
December 31, 2008 Income Statement of the Company included with the Company’s
Form 10-K Annual Report filed with the US Securities and Exchange Commission
(the "SEC") on April 13, 2009 and the December 31, 2007 and 2006 Income
Statements included with the Company’s Form 10-KSB Annual Report filed with
the SEC on April 14, 2008, and applying a 40% multiplier, would yield a
valuation as follows:

      

      
        
          	
                  2006
      annual commissions

                	 	$	232,227	 
	
                  2007
      annual commissions

                	 	 	195,580	 
	
                  2008
      annual commissions

                	 	 	191,878	 
	
                  Average

                	 	 	206,562	 
	
                  Multiplier

                	 	 	X 0.40	 
	
                  Valuation
      - Industry Multiplier Method (CDN Dollars)

                	 	$	82,625	 

        

      

      

      Calculation
of Midpoint Between Valuation Methods

      Therefore,
for the purposes of this agreement, the value of the travel business of Kinder
Travel Inc. will be determined as the midpoint between the two valuations
determined above as follows:

      

      
        
          	
                  Tangible
      Asset Method

                	 	 	58,177	 
	
                  Industry
      Multiplier Method

                	 	 	82,625	 
	
                  Midpoint
      (CDN Dollars)

                	 	$	70,401	 
	
                  US/CDN
      Exchange Rate (December 31, 2008)

                	 	 	0.8166	 
	
                  Valuation
      of Travel Business (US Dollars)

                	 	$	57,489	 

        

      

      

      
        
           

        

        
          5

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00157-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00157-of-00352.parquet"}]]