Document:

eastcoast_8ka-ex1001.htm

 

Exhibit 10.1

SETTLEMENT, RELEASE AND LICENSE AGREEMENT

 

This Settlement, Release and License Agreement ("Agreement") is entered into between Melvino Technologies Limited, a corporation organized under the laws of British Virgin Islands of Tortola and having a place of business at P.O. Box 3174, Palm Chambers, 197 Main Street, Road Town, Tortola, British Virgin Islands ("Melvino") and ArrivalStar S.A., a corporation organized under the laws of Luxembourg and having offices at 127 rue du Muhlenbach, L-2168, Luxembourg ("ArrivalStar"), on the one hand (together sometimes referred to as the "Patent Holders"), and EarthSearch Communications International, lnc.(referred to as "Licensee") (all collectively referred to herein as the "Parties.")

 

WHEREAS, Melvino owns all right, title and interest in, and/or has the right to license, the patents identified in Schedule A attached hereto, including any continuations, continuations-in-part, divisionals, re-issues or re-examinations of such patents, including any counterparts thereof in any country of the world in which there are counterparts of the foregoing U.S. patents (collectively, the "ArrivalStar Patents"), and ArrivalStar is the exclusive licensee of the ArrivalStar Patents, with the right to sub-license all ArrivalStar Patents.

 

WHEREAS, Patent Holders assert that certain products and/or services made, used, sold and/or offered for sale by Licensee infringe certain claims of the ArrivalStar Patents;

 

WHEREAS, Licensee wishes to obtain a license and release for any and all past, present, and future actions with respect to the ArrivalStar Patents, and the Patent Holders are willing to grant such a license and release under the terms hereof;

 

NOW, THEREFORE, in accordance with the foregoing recitals, and in consideration of the mutual covenants contained herein, the Patent Holders and Licensee agree as follows:

 

1a. "Patent Holders" means Melvino Technologies Limited, a corporation organized under the laws of British Virgin Islands of Tortola and having a place of business at P.O. Box 3174, Palm Chambers, 197 Main Street, Road Town, Tortola, British Virgin Islands and ArrivalStar S.A., a corporation organized under the laws of Luxembourg and having offices at 127 rue du Muhlenbach, L-2168, Luxembourg.

 

1b. "ArrivalStar Patents" means all patents owned, licensed, or controlled by the Patent Holders including but not limited to the patents identified in Schedule A attached hereto, including any continuations, continuations-in-part, divisionals, re-issues, re-examinations, renewals, extensions, and parents of such patents, and including any counterparts thereof in any country of the world in which there are counterparts of the foregoing U.S. patents, and also including without limitation, any and all current or future worldwide patents and patent applications and all corresponding foreign patents and patent applications and any continuations, continuations-in-part, divisionals, re-issues, re-examinations, renewal, extensions, or parent thereof that are directed to information systems or methods, or communications systems, or methods, for the transportation, logistics, shipping, warehousing, cargo, and/or parcel delivery industries that are owned by (now or hereinafter) or exclusively licensed to (now or hereinafter) Melvino, ArrivalStar, their subsidiaries, Affiliates or principals, assigns and successors.

 

  

  

  

 

2. "Affiliates" as used herein means, with respect to each party, any person, corporation, partnership, trust, or other entity, existing or which has yet to exist, that, directly or indirectly, legally or beneficially, owns, is/will be owned by, or is/will be under common ownership with the party or the party's ultimate parent. For purposes of the foregoing, "own", "owned", or "ownership" means holding ownership of, or the right to vote, fifty percent (50%) or more of the voting stock or ownership interest entitled to elect a board of directors or a comparable managing authority.

 

3. Patent Holders warrant and represent that (a) except as stated below with respect to WNS Holdings LLC, they exclusively own the entire right, title, and interest in, and have the exclusive and entire right to enforce and license, the United States ArrivalStar Patents identified in Schedule A; (b) they have the right to license the Worldwide Patents identified in Schedule A; (c) they have the right to enter into this Agreement; (d) there are no liens, conveyances, mortgages, assignments, encumbrances or other agreements to which Patent Holders are a party or by which they are bound, which would prevent or impair the full exercise of all substantive rights granted to Licensee, its subsidiaries, and its Affiliates by Patent Holders pursuant to the terms of the Agreement; and (e) they have not assigned or transferred to any other person or entity any of their claims, demands or causes of action settled and released herein. Patent Holders warrant that no other entity or individual including but not limited to ArrivalStar Jersey Ltd., Noticom International, LLC, LaBarge, Inc., WNS Holdings, LLC, Global Research Systems, Inc. and the inventors holds any right, title or interest in or to any of the patents identified in Schedule A or to any corresponding foreign patents and patent applications or any continuations, continuations-in-part, divisionals, re-issues, re­examinations, renewals, extensions, or parents thereof, except that Patent Holders represent that WNS Holdings LLC holds an interest in two of the patents identified in Schedule A with an asterisk (*). Patent Holders represent that said interest of WNS Holdings LLC does not preclude Patent Holders from licensing the subject patents to Licensee, its subsidiaries and its Affiliates or otherwise from entering into this Agreement and granting the warranties, releases, licenses and covenants included herein.

 

4. The terms, provisions and payments set forth in this agreement are not and shall not be construed as an admission by Licensee of the infringement, validity, or enforceability of the ArrivalStar Patents.

 

  

2

  

 

5. In full settlement all claims asserted by and/or which could have been asserted by Patent Holders against Licensee in connection with the ArrivalStar Patents in civil action 1:10-cv-04349 filed July 13, 2010 in the United States District Court for the Northern District of Illinois, and in full consideration of the license, releases, and covenants in this Agreement, Licensee shall pay the sum of fifteen thousand dollars (US$15,000) ("the Settlement Amount"), which shall be due by September 30, 2010 to Patent Holders and their attorneys, Dowell Baker, P.C., to the following client trust account:

 

First Merchants Bank 

ABA No. 074900657 

Credit to Lafayette Bank and Trust — Lafayette, Indiana

Account No. 9009108

Dowell Baker, P.C. Client Trust IOLTA Account

Account No. 9000201658

 

6. So long as Licensee's sales of GPS-related vehicle tracking software and services remain less than two million dollars (US$2,000,000) per fiscal year, no additional payments from Licensee to Patent Holders shall be due, except as provided in Paragraph 10. In the event that Licensee's sales of GPS-related vehicle tracking software and services exceed two million dollars (US$2,000,000) in any fiscal year, an additional payment of twenty-five thousand dollars (US$25,000) shall be immediately due and payable to Patent Holders and their attorneys, Dowell Baker, P.C., to the client trust account listed in Paragraph 5. Such payment pursuant to this paragraph shall be due and payable only a single time, and not in subsequent years if Licensee's sales of GPS-related vehicle tracking software and services continue to exceed two million dollars (US$2,000,000) per fiscal year, except as provided in Paragraph 7. As used herein, "GPS-related vehicle tracking software and services" shall be limited to software and services tracking vehicle mounted GPS hardware and shall not include hardware sales.

 

7. In the event that Licensee's sales of GPS-related vehicle tracking software and services exceed four million dollars (US$4,000,000) in any fiscal year, an additional payment of seventy-five thousand dollars (US$75,000), minus any payment already made pursuant to Paragraph 6, shall be immediately due and payable to Patent Holders and their attorneys, Dowell Baker, P.C., to the client trust account listed in Paragraph 5. Such payment pursuant to this paragraph shall be due and payable only a single time, and not in subsequent years if Licensee's sales of GPS-related vehicle tracking software and services continue to exceed four million dollars (US$4,000,000) per fiscal year. "GPS­-related vehicle tracking software and services" shall be limited to software and services tracking vehicle mounted GPS hardware and shall not include hardware sales.

 

8. Patent Holders grant to Licensee, its subsidiaries, and Affiliates, a fully paid-up, worldwide, irrevocable, non-exclusive, non-transferable (except as set forth below) right and royalty-free license to the ArrivalStar Patents in connection with any product, service, or systems provided or developed by or for Licensee, either now existing or later developed. Such license shall be deemed to extend to and include an immunity from suit against all past, present and future customers, suppliers, sublicensees, consultants and users of any product, service, or system provided by or for Licensee but solely with respect to such product, service, or system of Licensee. Patent Holders shall not enter into any agreement or take any action which would interfere with the release, covenants not to sue and license grants in this Agreement.

 

  

3

  

 

9. Patent Holders do hereby release, forever discharge, and covenant not to sue Licensee from any and all claims, actions, causes of action, suits, damages, injuries, duties, rights, obligations, liabilities, adjustments, responsibilities, judgments, trespasses, and demands, whatsoever, in law or in equity, whether known or unknown, suspected or unsuspected to exist, now existing or later acquired, which were made or could have been made or may be made in the future by Patent Holders relating to the ArrivalStar Patents. This release is not intended and shall not be construed to affect Patent Holders' claims (including claims for patent infringement) against any other current or future alleged infringer of the ArrivalStar Patents.

 

10. Except as defined in paragraph 8, the releases and license set forth above are assignable and transferable by Licensee only in the case of a merger or sale of all or substantially all of its assets or stock, in the case of an acquisition of Licensee or to a subsidiary or a present or future Affiliate of licensee, and only upon a an additional payment of eighty-five thousand dollars (US$85,000), minus any payments already made pursuant to Paragraphs 6 and/or 7, to Patent Holders and their attorneys, Dowell Baker, P.C., to the client trust account listed in Paragraph 5. Such payment pursuant to this paragraph shall be due and payable immediately upon any merger or sale, and shall be payable only a single time, and not in the event of any subsequent mergers or sales.

 

11. This Agreement shall be binding upon Melvino, ArrivalStar, their successors, principals and assigns as well as any future successor owner of the ArrivalStar Patents.

 

12. Each Party hereto warrants and represents to the others that (a) its execution of this Agreement has been duly authorized by all necessary corporate action of such Party; and (b) it has requisite legal rights necessary to grant the other Party all releases, covenants not to sue as set forth above.

 

13. The Parties agree that the terms of this Agreement will be treated as strictly confidential and maintained in confidence and will not be disclosed to any other person or entity except as may be required by law or pursuant to a protective order entered by a Court or tribunal. Licensee may represent that it is licensed under the ArrivalStar Patents without violating this confidentiality provision.

 

14. This Agreement will become binding and effective upon the exchange of facsimile or email copies of the required signatures. 

 

  

4

  

 

WHEREFORE, the Parties hereby acknowledge their agreement and consent to the terms and conditions set forth above through their respective signatures as contained below and each Party represents and warrants that the representatives signing below have the authority to legally bind such Party:

 

	  

 

	
MELVINO TECHNOLOGIES LIMITED

 

______________________________

	
EARTHSEARCH COMMUNICATIONS INTERNATIONAL, INC.

 

             /s/ Kayode Aladesuyi                         

	 	 
	
Dated:  ________________________

	Dated:                          9/1/2010                         
	 	 

	
Its:  ___________________________

	Its:                                CEO                               

 

ARRIVALSTAR S.A.

 

______________________________

 

Dated:  ________________________

 

Its:  ___________________________

 

 

  

5

  

 

Schedule A

United States Patents

 

	
1. 

	
5,400,020

	
2. 

	
5,444,444*

	
3. 

	
5,623,260

	
4. 

	
5,648,770*

	
5. 

	
5,657,010

	
6. 

	
5,668,543

	
7. 

	
6,278,936

	
8. 

	
6,313,760

	
9. 

	
6,317,060

	
10. 

	
6,363,254

	
11. 

	
6,363,323

	
12. 

	
6,411,891

	
13. 

	
6,415,207

	
14. 

	
6,486,801

	
15. 

	
6,492,912

	
16. 

	
6,510,383

	
17. 

	
6,618,668

	
18. 

	
6,683,542

	
19. 

	
6,700,507

	
20. 

	
6,714,859

	
21. 

	
6,741,927

	
22. 

	
6,748,318

	
23. 

	
6,748,320

	
24. 

	
6,763,299

	
25. 

	
6,763,300

	
26. 

	
6,804,606

	
27. 

	
6,859,722

	
28. 

	
6,904,359

	
29. 

	
6,952,645

	
30. 

	
6,975,998

	
31. 

	
7,030,781

	
32. 

	
7,089,107

	
33. 

	
7,191,058

	
34. 

	
7,400,970

 

  

6

  

 

Worldwide Patents

 

AT 257265 

AT 273547 

AU 2608700 

AU 3393300 

AU 3998401 

AU 6284999 

AU 6404799 

AU 6453598 

AU 7391696 

BR 0007537 

BR 0008670 

BR 9808005 

CA 2267206 

CA 2283239 

CA 2360288 

CA 2363556 

CA 2528647 

CN 1345413 

DE 60104824 

DE 69631255 

EP 0929885 

EP 0966720 

EP 1261902 

EP 1264296

MXPA01008914 

WO 9814926 

WO 0019171 

WO 0019170

 

 

 7eastcoast_8ka-ex1002.htm

Exhibit 10.2

LICENSE AGREEMENT

 

THIS LICENSE AGREEMENT (hereinafter this "Agreement") is made and entered into by and between BBGN&A LLC, a limited liability company established under Nevada law (hereinafter "Licensor"), having its office at [ADDRESS], and EAST COAST DIVERSIFIED CORPORATION, a corporation organized under Nevada law (including its affiliates, hereinafter "Licensee"), having its principle office at 120 Interstate North Parkway SE, Suite 445, Atlanta, Georgia 30339 (collectively "Parties").

 

RECITALS

 

	
1.  

	
WHEREAS, Licensor has the right to grant licenses with respect to the Licensed Rights (as hereinafter defined), and wishes to grant such a license to Licensee; and

 

	
2.  

	
WHEREAS, Licensee wishes to obtain a license of the Licensed Rights upon the terms and conditions hereinafter set forth

 

NOW, THEREFORE, in consideration of the premises and the faithful performance of the covenants herein contained it is agreed as follows:

 

ARTICLE I — DEFINITIONS

 

For the purpose of this agreement, the following definitions shall apply:

 

	
1.

	
Licensed Rights:  Shall mean:

 

	 	
a. 

	
Patent Application Serial No. 61/245,141, filed by Kayode Aladesuyi;

 

	 	
b.

	
Patent Application Serial No. 11/854, 305, filed by Kayode Aladesuyi;

 

	 	
c. 

	
Any and all improvements developed by Licensor, whether patentable or not, relating to the Licensed Rights, which Licensor may now or may hereafter develop, own or control;

 

	 	
d. 

	
Any or all patents, which may issue on patent rights and improvements thereof, developed by Licensor and any and all divisions, continuations, continuations-in-part, reissues and extensions of such patents; and

 

	 	
e. 

	
All rights in and related to (whether held, owned or in the possession of Licensor now or in the future) the LogiBoxx trademark and trade name including all future U.S. trademark registrations related thereto, all logos related thereto and the goodwill appurtenant to each;

 

each of subsection a. - e. in this ARTICLE I paragraph 1 is owned by Licensor.

 

	
2.

	
Gross Sales: Shall mean, for any period of time, all income, revenue or proceeds accrued,recorded or booked by Licensee and its affiliates on an accrual accounting basis, during such period of time.

 

 

  

  

  

 

 

	
3.

	
Exclusive License: Shall mean a non-transferable, exclusive license to use the Licensed Rights within the Territory in the course of Licensee's business during the term .of and according to the terms and conditions of this Agreement.

 

	
4.

	
Royalty(ies): Shall mean revenues received in the form of cash from Licensee as a result of licensing of the Licensed Rights.

 

	
5.

	
Territory: Shall mean the United States of America.

 

	
6.

	
Business Day: Shall mean any day of the year on which national banking institutions in New York are open to the public for conducting business and are not required or authorized to close.

 

ARTICLE II — GRANT OF EXCLUSIVE LICENSE

 

	
1.

	
Licensor hereby grants to the Exclusive License to Licensee.

 

	
2.

	
Licensor retains the right to continue to use Licensed Rights in any way for non-commercial purposes.

 

	
3.

	
Licensee represents and acknowledges that:

 

	
a.  

	
prior to the date hereof, Licensee made use of Licensed Rights;

 

	
b.  

	
other than pursuant to this Agreement, Licensee does not have and never has had any claim of interest, right or title to Licensed Rights or any improvements to or upon Licensed Rights.

 

	
4.

	
Licensee acknowledges that the Exclusive License herein granted shall be geographically limited to use of Licensed Rights in Territory and does not grant a global license.

 

ARTICLE III — LICENSE PAYMENTS

 

	
1.  

	
For each calendar quarter, no later than the fifteenth (15th) day following the end of the immediately preceding calendar quarter, unless such fifteenth (15th) day is not a Business Day, in which case on the immediately following Business Day, Licensee shall pay to Licensor (or its designee), in immediately available funds, a fee equal to eight percent (8%) of the Gross Sales for such immediately preceding calendar quarter.

 

	
2.  

	
All sums payable by Licensee hereunder shall be paid to Licensor in the United States and in the currency of U.S. dollars.

 

	
3.  

	
In the event any Royalties are not paid as specified herein, then a compound annual interest of twenty percent (20%) shall be due to Licensor in addition to the Royalties accrued for the period of default.

 

  

  

  

 

ARTICLE IV — REPORTS, BOOKS AND RECORDS

 

 

	
1.  

	
For each calendar quarter, no later than the fifteenth (15th) day following the end of the immediately preceding calendar quarter, Licensee shall deliver to Licensor a written report setting forth the Gross Sales for such immediately preceding calendar quarter. If there are no Gross Sales in such immediately preceding calendar quarter, Licensee shall deliver to Licensor a written statement to that effect.

 

	
2.  

	
Licensee shall keep books and records in such reasonable detail as will permit the reports provided for in paragraph 1 of this ARTICLE IV hereof to be determined. Licensee further agrees to permit such books and reports to be inspected by a representative or representatives of Licensor to the extent necessary to verify the reports provided for in paragraph l of this ARTICLE IV hereof; provided, however, that such representative or representatives shall indicate to Licensor only whether the reports and Royalty paid are correct, if not, the reasons why not.

 

ARTICLE V — MARKING

 

Licensee agrees to mark or have marked all products made, used or leased by it under the Licensed Rights, if and to the extent such markings shall be practical, with such patent markings as shall be desirable or required by applicable patent laws.

 

ARTICLE VI — TERMINATION OR CONVERSION TO NON-EXCLUSIVE LICENSE

 

	
1.

	
At the option of Licensor, Licensor may terminate this agreement by written notice to

 

Licensee in case of:

 

	
a.  

	
Default in the payment of any Royalties required to be paid by Licensee to Licensor hereunder.

 

	
b.  

	
Default in the performance of any other material obligation contained in this agreement on the part of Licensee to be performed and such default shall continue for a period of thirty (30) days after Licensor shall have given to Licensee written notice of such default.

 

	
c.  

	
Adjudication that Licensee is bankrupt or insolvent.

 

	
d.  

	
The filling by Licensee of a petition of bankruptcy, or a petition or answer seeking reorganization, readjustment or rearrangement of its business or affairs under any law or governmental regulation relating to bankruptcy or insolvency.

 

	
e.  

	
The appointment of a receiver of the business or for all or substantially all of the property of Licensee; or the making by Licensee of assignment or an attempted assignment for the benefit of its creditors; or the institution by Licensee of any proceedings for the liquidation or winding up of its business or affairs.

 

	
2.

	
Termination of this agreement shall not in any way operate to impair or destroy any of Licensee's or Licensor's right or remedies, either at law or in equity, or to relieve Licensee of any of its obligations to pay Royalties or to comply with any other of the obligations hereunder, accrued prior to the effective date of termination.

 

  

  

  

 

	
3.  

	
Failure or delay by Licensor to exercise its rights of termination hereunder by reason of any default by Licensee in carrying out any obligation imposed upon it by this agreement shall not operate to prejudice Licensor's right of termination for any other subsequent default by Licensee.

 

	
4.  

	
Upon termination of this agreement, all of the Licensed Rights shall be returned to Licensor.

 

ARTICLE VII — TERM

 

This Agreement shall terminate and be of no further force or effect on September 17, 2015 (hereinafter "Initial Term"), unless renewed pursuant to this Agreement. Following the Initial Term, this Agreement shall automatically renew for additional five (5) year terms (each, a "Renewal Term") unless both Parties agree in writing to non-renewal no fewer than three (3) months prior to the end of the Initial Term or the applicable Renewal Term. In exchange for the renewal of this Agreement after the Initial Term and every Renewal Term, Licensee shall pay a fee (the "Renewal Fee") to Licensor on the date that the applicable Renewal Term begins. The Renewal Fee shall, at the discretion of Licensor, consist of either: 1) an amount equal to Five Hundred and Fifty Thousand Dollars ($550,000) in immediately available funds and in the currency of US Dollars; or 2) an amount of any publicly traded securities of Licensee (such securities to have piggyback registration rights), such amount to equal Five Hundred and Fifty Thousand Dollars ($550,000).

 

ARTICLE VIII — LICENSED RIGHTS LITIGATION

 

Unless otherwise directed by Licensor in writing, Licensee shall undertake or direct or cause the undertaking or direction of the defense of any or all of the Licensed Rights with respect to any action, legal or otherwise (each, an "Action"), related to, connected to, or associated with the Licensed Rights (hereinafter "Defense Obligation"). Licensee covenants and agrees to pay and bear any and all costs and expenses, and acknowledges that Licensor shall have no duty, obligation, responsibility or commitment with respect to such Defense Obligation, whether financial, monetary or otherwise. Licensee acknowledges that it has no right or interest whatsoever in or with respect to the proceeds, awards or judgments arising out of, related to, connected with or associated with any Action. Licensee covenants and agrees that if it receives any such proceed, award or judgment, it shall immediately transfer such proceed, award or judgment to Licensor. Defense Obligations undertaken at Licensee's cost shall be performed by patent attorneys, if applicable, selected by Licensor. Both parties shall review and approve any and all documents related to, resulting from, or necessary for performance of such Defense Obligations.

 

ARTICLE IX — LICENSED RIGHTS FILINGS AND PROSECUTING

 

Unless otherwise directed by Licensor in writing, Licensee shall undertake or direct or cause the undertaking or direction of the preparation, filling, maintaining or prosecuting the application, new, old or pending, of any or all of the Licensed Rights or of any or all patentable improvements made by inventors (hereinafter "IP Obligations"). Licensee covenants and agrees to pay and bear any and all costs and expenses, and acknowledges that Licensor shall have no duty, obligation, responsibility or commitment with respect to such IP Obligations, whether financial, monetary or otherwise. In the event Licensee refuses to perform any IP Obligation, the rights to such Licensed Rights or improvement upon Licensed Rights, shall be returned Licensor. IP Obligations undertaken at Licensee's cost shall be performed by patent attorneys, if applicable, selected by Licensor. Both parties shall review and approve any and all documents related to, resulting from, or necessary for performance of such IP Obligations.

 

  

  

  

 

ARTICLE X — NOTICES, ASSIGNEES

 

	
1.  

	
Notices and payments required hereunder shall be deemed properly given if duly sent by first class mail and addressed to the parties at the addresses set forth above. All notices to Licensor shall also include a copy to: BBGN&A LLC, c/o JSBarkats LLC, 18 East 41st Street, 19th Floor, New York, New York 10017. The Parties hereto will keep each other advised of address changes.

 

	
2.  

	
Licensee shall not assign any or all of its rights or obligations pursuant to this Agreement.  This Agreement shall be binding upon and shall inure to the benefit of the assigns of Licensor and upon and to the benefit of the successors of the entire business of Licensor, but neither this agreement nor any of the benefits thereof nor any rights thereunder shall, directly or indirectly, without the prior written consent of Licensor, be assigned, divided, or shared by the Licensor to or with any other party or parties (except a successor of the entire business of the Licensor).

 

ARTICLE XI — MISCELLANEOUS

 

	
1.  

	
Licensee shall indemnify, hold harmless, and defend Licensor and its trustees, members, officers, employees and agents against any and all allegations and actions for death, illness, personal injury, property damage, and improper business practices arising out of the use of the Licensed Rights.

 

	
2.  

	
In connection with the performance of this Agreement, each party (the "Receiving Party") may have access to certain confidential and proprietary information of the other party (the "Disclosing Party"). For purposes of this Agreement, "Confidential Information" shall mean any and all information proprietary to the Disclosing Party, whether or not reduced to writing or other tangible medium of expression, and whether or not patented, patentable, capable of trade secret protection or protected as an unpublished or published work under the United States Copyright Act, and shall include, without limitation, the terms and existence of this Agreement, information relating to intellectual property and to business plans, financial matters, products and services. Recognizing that such information represents valuable assets and property of the Disclosing Party and the harm that may befall the Disclosing Party if any of such Confidential Information is disclosed, the Receiving Party agrees to hold all such Confidential Information in strict confidence and not to use or otherwise disclose any such Confidential Information to third parties without having received the prior consent of the Disclosing Party. Notwithstanding the previous sentence, the confidentiality obligations set forth in this paragraph shall not apply to the extent that any Confidential Information is ordered to be disclosed by a court of competent jurisdiction in a final non-appealable decision or is otherwise required to be disclosed by law (but only to the limited extent of such order or legal requirement).

 

 

  

  

  

 

	
3.  

	
The parties hereto deem this Agreement to be an agreement that is executed and performed entirely within the State of New York. This Agreement, and all rights and obligations created by it, shall be interpreted in accordance with the laws of the State of New York governing agreements to be executed and performed entirely within the State of New York, without reference to the choice of law provisions thereof. The Parties hereto hereby irrevocably submit to the exclusive jurisdiction of any federal or state court located within the State of New York, County of New York over any dispute arising out of or relating to this Agreement or any of the transactions contemplated hereby and each party hereby irrevocably agrees that all claims in respect of such dispute or any suit, action proceeding related thereto shall be heard and determined in such courts. The Parties hereby irrevocably waive, to the fullest extent permitted by applicable law, any objection which they may now or hereafter have to the laying of venue of any such dispute brought in such court or any defense of inconvenient forum for the maintenance of such dispute. Each of the Parties hereto agrees that a judgment in any such dispute may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by law

 

	
4.  

	
No waiver by a party of any provision of this Agreement shall be considered a waiver of any other provision, or any subsequent breach of the same or any other provision, including the time for performance of any such provision. The exercise by a party of any remedy, whether at law or equity, shall not prevent the exercise by that party of any other remedy that may be available.

 

	
5.  

	
This Agreement inures to the benefit of, and is binding on the parties, their respective heirs, personal representatives, affiliates, successors and permitted assigns, except to the extent of any contrary provision of this Agreement.

 

	
6.  

	
If any term, provision, covenant or condition of this Agreement is held by a court of competent jurisdiction to be invalid, void or otherwise unenforceable, the remaining provisions of this Agreement shall remain in full force and effect and shall in no way be affected, impaired or invalidated.

 

	
7.  

	
This Agreement may be executed in any number of counterparts, all of which will be construed together and will constitute a single original.

 

	
8.  

	
This Agreement constitutes the entire agreement between the Parties and supersedes all prior discussions, negotiations, and agreements, whether oral or written. Any subsequent amendment, including an oral modification supported by new consideration, must be reduced to writing and signed by both parties before it will be effective. No amendment to this Agreement, whether written or oral, shall in any way modify or amend this Agreement, increase or expand the Licensee's rights hereunder or abridge or reduce the Licensee's duties, obligations, requirements or covenants hereunder without the express prior written consent of the Licensor, in the Licensor's sole discretion. Emails, including emails that bear an electronic "signature block" identifying the sender, do not constitute signed writings for purposes of this agreement.

 

  

  

  

 

	
9.

	
The Parties hereto represent and warrant to each other that they have the full right, power and authority to enter into and perform all of their obligations hereunder, that they are under no legal impediment which would prevent their signing of this Agreement or consummating the same, and to the best of their knowledge, the entering into of this Agreement will not create any default under any other agreement or breach of same to which they or any of their affiliates may be a party or to an order, judgment, or decree to which they may be subject or bound.

 

[SIGNATURE PAGE FOLLOWS]

 

  

  

  

 

IN WITNESS WHEREOF, the Parties hereto have caused this License Agreement to be executed by their duly authorized representatives as of September 17, 2010.

 

 

	 	
Licensor: 

 

BBGN&A LLC

	 	 	 
	 	By: 	/s/ Kayode Aladesuyi
	 	 	 
	 	Name:	Kayode Aladesuyi
	 	 	 
	 	Title:	CEO
	 	 	 
	 	
Licensee:

 

East Coast Diversified Corporation

	 	 	 
	 	By:	/s/  Frank Russo 
	 	 	 
	 	Name:	 Frank Russo
	 	 	 
	 	Title:	Vice President / Director

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