Document:

ex10-1.htm

Exhibit 10.1

 

ASSET PURCHASE AGREEMENT

This Asset Purchase Agreement (this “Agreement”) is made and entered into on the 10th day of August 2010, by and between Steve Elisberg (the “Seller”), and MedCareers Group, Inc., a Nevada company (the “Purchaser”), each a “Party” and collectively the “Parties.”

W I T N E S S E T H:

WHEREAS, the Seller desires to sell to the Purchaser the URL www.workabroad.com (the “URL” or the “Assets”) and Purchaser desires to purchase the Assets from the Seller subject to the terms and conditions of this Agreement.

NOW, THEREFORE, in consideration of the respective representations and warranties hereinafter set forth and of the mutual covenants and agreements contained herein, the Parties hereto agree as follows:

	
ARTICLE I

 SALE AND PURCHASE OF ASSETS

 

1.1           Sale and Purchase.  Subject to the terms and conditions contained herein, Seller hereby agrees to sell, transfer, convey and deliver to Purchaser, and Purchaser agrees to accept from Seller, all of Seller’s right, title and interest in and to the Assets.  Purchaser is not assuming any liabilities other than the annual hosting fees and the continuing payment obligations to Seller described below.

 

1.2           The Purchase Price.  The total purchase price shall be $225,000 paid as follows:  (a) $22,500.00 down payment which has previously been paid to Seller on or about March 8, 2010; and $2,248.17 on each of April 8 and on the eighth of each month thereafter for 35 payments.  The monthly payments equal $202,500 amortized over 10 years at 6% annual interest.  The total unpaid principal and interest is payable in full 36 months on March 8, 2013.  Any payment not received by Seller within three Business days of the due date shall require payment of a $300 late fee.

	
ARTICLE II

 CLOSING; CONDITIONS TO CLOSING; DELIVERIES

 

2.1            Closing.  The closing of this transaction (the “Closing”) shall be held within ten days of the date that Purchaser has obtained an audit of the operations of the Assets in a reasonably satisfactory form to Purchaser at such time and place upon which the Parties shall mutually agree (the “Closing Date”).  Purchaser acknowledges that it has completed all required audit work and this condition has been satisfied in full.

 

	
ARTICLE III

SELLER’S REPRESENTATIONS AND WARRANTIES

 

Seller represents and warrants to Purchaser as follows:

 

3.1           Title to Assets.

 

(a)  Seller has good and marketable title to all of the Assets and the full right and power to transfer the Assets.  The Assets are owned by Seller free and clear of all liens, security interests, encumbrances, and restrictions of any kind and nature whatsoever; and upon Purchaser making all required payments to Seller hereunder, Purchaser will acquire good and valid title to the Assets free and clear of all liens, claims, security interests, and restrictions of any kind and nature whatsoever.  At Closing the sole restrictions on title are Seller’s rights to control the Assets until Purchaser makes all required payments after Closing as provided herein.

 

  

  

  

	
ARTICLE IV

 REPRESENTATIONS AND WARRANTIES OF PURCHASER

 

Purchaser hereby represents and warrants to Seller as follows:

 

4.1           Organization and Good Standing.  Purchaser is a corporation duly organized and validly existing under the laws of the State of Nevada.

 

4.2           Authority.  Purchaser has full authority or capacity to execute and to perform this Agreement in accordance with its terms; the execution and delivery of this Agreement and the consummation of the transactions contemplated hereby does not and will not result in a breach, violation or default of any agreement or other instrument or restriction to which Purchaser is bound or affected.

	
ARTICLE V

 GENERAL PROVISIONS

5.1           Seller’s Rights.  So long as Purchaser makes all payments in a timely manner as provided herein, Seller shall point the URL per Purchaser’s direction.  Seller may maintain control over moving or hosting the URL until all payment obligations have been satisfied and made.  Prior to a default, Purchaser shall be able to operate the Assets as it desires so long as it is a legal purpose.  Purchaser shall be in default if payments are not timely made and cured within 15 days written notice from Seller.  Upon a default, Seller may redirect the URL as it desires and terminate this Agreement and all of Purchaser’s rights shall be terminated and Seller may keep all prior payments made.  Seller’s rights shall be deemed a security interest in the URL.  Seller has no obligation to transfer full control of the URL to Purchaser until all required payments have been made.   Late fees are owing when applicable as provided in Section 1.2 above and do not limit Seller’s default remedies provided in this Section 5.1.  In all cases, if a default exists as defined under this Section 5.1, Seller shall be entitled to exercise the remedies provided herein as Seller elects in its sole discretion.

5.2           Governing Law.  This Agreement shall be governed by and construed and enforced in accordance with the local laws of the State of Florida without regard to conflict of laws principles.  Seller and Purchaser hereby irrevocably consent and submit to the jurisdiction of any State or Federal court located in Dade County, Florida over any action or proceeding arising out of any dispute between Seller and Purchaser, and waive any right they have to bring an action or proceeding with respect thereto in any other jurisdiction.  Each Party further irrevocably consents to the service of process against them in any such action or proceeding by the delivery of a copy of such process at the address set forth above.

  

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5.3           Notices.  All notices, requests, demands and other communications hereunder shall be in writing and shall be delivered:  (a) personally; (b) by facsimile transmission; (c) by a commercial overnight delivery service (e.g., Federal Express, UPS, Airborne, etc.) and paid for by the sender; or (d) by certified, registered or express mail, postage prepaid.  Any such notice shall be deemed given when so delivered:  (i) personally, upon such service or delivery; (ii) if sent by facsimile transmission, on the day so transmitted, if the sender calls to confirm that such notice has been received by facsimile and has a printed report which indicates that such transmission was, in fact, sent to the facsimile number indicated below; (iii) if sent by commercial overnight delivery service, on the date reflected by such service as delivered to the addressee; or (iv) if mailed by certified or registered mail, five business days after the date of deposit in the United States mail.  In each instance, such notice, request, demand or other communications shall be addressed as follows:

	 	
(a)  in the case of the Seller:

Steve Elisberg

To Be Provided

	 	
(b)  in the case of Purchaser:

	
  

	
MedCareers Group, Inc.

	
  

	
Attn:  Robert Bryan Crutchfield

Five Concourse Parkway, Suite 2925

Atlanta, GA  30328

	
  

	
Phone: (866) 472-7781

	
  

	 	
Fax: 770-392-5269

	
  

	
with a copy to:

	
  

	
The Loev Law Firm, PC

	
  

	
Attn: David M. Loev, Esq.

	
  

	
6300 West Loop South, Suite 280

	
  

	
Bellaire, Texas 77401

	
  

	
Telephone: (713) 524-4110

	
  

	
Fax: (713) 524-4122

or to such other address or to such other person as Purchaser or Seller, shall have last designated by written notice given as herein provided.

 

5.4           Binding Effect; Assignment.  This Agreement shall be binding upon the Parties and inure to the benefit of the successors and assigns of the respective Parties hereto.

 

5.5           Effect of Facsimile and Photocopied Signatures. This Agreement may be executed in several counterparts, each of which is an original.  It shall not be necessary in making proof of this Agreement or any counterpart hereof to produce or account for any of the other counterparts.  A copy of this Agreement signed by one Party and faxed or scanned and emailed to another Party (as a PDF or similar image file) shall be deemed to have been executed and delivered by the signing Party as though an original.  A photocopy or PDF of this Agreement shall be effective as an original for all purposes.

 

  

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5.6           Transaction Expenses.  Each Party shall be responsible for the payment of any and all of its own expenses, including without limitation the fees and expenses of counsel, accountants and other advisers, arising out of or relating directly or indirectly to the transactions contemplated by this Agreement, whether or not such transactions are consummated in whole or in part.

 

5.7           Waiver.  The waiver of one breach or default hereunder shall not constitute the waiver of any other or subsequent breach or default.

 

5.8           Severability of Invalid Provision.   If any provision of this Agreement is held invalid or unenforceable by any court of competent jurisdiction, the other provisions of this Agreement will remain in full force and effect.  Any provision of this Agreement held invalid or unenforceable only in part or degree will remain in full force and effect to the extent not held invalid or unenforceable.

 

5.9           Entire Agreement.  This Agreement represents the entire agreement between the parties relating to the subject matter thereof and supersedes all prior agreements, term sheets, understandings and negotiations, written or oral, with respect to such subject matter.

 

 

IN WITNESS WHEREOF, the Parties hereto have duly executed this Agreement the day and date first above written.

	
 

PURCHASER:

 

MedCareers Group, Inc. 

 

 

/s/ Robert Bryan Crutchfield

Robert Bryan Crutchfield

Chief Executive Officer

 

 

 

	
 

SELLER:

 

 

 

 

/s/ Steve Elisberg

Steve Elisberg

 

 

 

 

  

-4-ex10-2.htm

Exhibit 10.2

 

 

MedCAREERS Group

 

WorkAbroad.com Development Proposal

 

 

 

	
Prepared for:

	
R. Bryan Crutchfield

	
  

	
C. John Dean

 

 

 

Proprietary Statement

This document contains confidential and proprietary information and is the property of KOSTYA, Inc. This document was prepared for the requesting party for the sole purpose of evaluating the services proposed. It is submitted to you in confidence, on the condition that you and your representatives have, by receiving it, agreed not to reproduce or copy it, in whole or in part, or to furnish such information to others, or to make any other use of it except for the evaluation purposes stated above, and to return it to KOSTYA, Inc. upon request. The previous statement shall not apply to the extent that such statement violates any federal or state laws requiring such information to be made available to the public.

 

	
KOSTYA, Inc.

	
360 Village Trace, Suite 15D

	
T. 888-756-7892

	
info@kostya.net

	
Marietta, GA 30067

	
F. 206-350-0524

  

  

  

 

Bryan Crutchfield

C. John Dean

MedCAREERS Group, Inc.

5 Concourse Parkway

Suite 2925

Atlanta, GA 30328

 

 

April 9, 2010

 

 

Dear Bryan and John,

 

Thank you for taking time to discuss the details of the WorkAborad project.

 

We look forward to working with you to develop a next generation job board platform to power WorkAbroad.com

 

In the proposal that follows, we provide a roadmap to plan, execute and deliver the product that best meets your business requirements.

 

We welcome the opportunity to walk through our proposal with you and address any questions that you may have. Feel free to contact me (404.477.4441) with questions or areas that may need further clarification.

 

 

Best Regards,

 

 

Konstantin Derenstein

CEO

KOSTYA, Inc.

 

 

MedCAREERS Group - WorkAbroad.com Development Proposal 

Proprietary & Confidential - KOSTYA, Inc.

  

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1. Project Background

 

MedCAREERS Group mission is to become a leader in the healthcare career arena with a focus on the healthcare professional. MedCAREERS Group’s goal is to build itself into a complete resource for the healthcare professional with an emphasis and understanding of what healthcare professionals need as a resource to assist them in maximizing their careers. MedCAREERS Group aims to be the "go to" place for the healthcare professional community. MedCAREERS Group intends to offers easy, comprehensive solutions and information that is exclusively healthcare related.

 

Workabroad.com is a tremendous domain name for furthering MedCAREERS Group strategy of providing information to and facilitating the life and careers of healthcare professionals.  There are a number of international healthcare professionals that currently visit workabroad.com and MedCAREERS Group intends to expand the offerings on the website to further meet the needs of these people.

 

Platform Overview

 

KOSTYA’s Job Board platform will laverage search engine optimization technology to seamlessly integrate job search and job posting with popular social networking sites.  This platform will include:

 

	
  

	
·

	
Search Engine Optimized architecture

	
  

	
·

	
Integration with Social Networks (LinkedIn, Facebook, Twitter)

	
  

	
·

	
Job Aggregator and Internet Spidering Capabilities

	
  

	
·

	
Integration with Indeed.com

 

2. Project Methodology

 

KOSTYA follows internationally recognized standards for project management best practices on all of its projects.  KOSTYA will tailor its Project Engagement Methodology to accommodate the following objectives:

 

	
·

	
Initiation: KOSTYA and MedCAREERS Group will conduct business and technical meetings to identify all key personnel and information required for the project.  Deliverables and a high level project schedule are identified and documented during this phase. A dedicated Project Manager will be assigned to the project.

 

	
·

	
Planning: KOSTYA will create a detailed project plan, including a project schedule and list of deliverables to be presented to MedCAREERS Group.  In this phase, KOSTYA will need access to technical information (existing source code, design documents, website access, etc.) identified during initiation.

 

 

MedCAREERS Group - WorkAbroad.com Development Proposal 

Proprietary & Confidential - KOSTYA, Inc.

  

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·

	
Executing: KOSTYA will provide deliverables and perform all services outlined in the project plan for BMedCAREERS Group.

 

	
·

	
Monitoring and Control: For the duration of the project, KOSTYA will provide MedCAREERS Group with project status updates and progress reports.  Issue and Change logs will be maintained by KOSTYA. Project Manager will be the principal contact point for communication regarding the project.

 

3. Software Lifecycle

 

KOSTYA has developed a strong approach to successful implementation of software development project. This proven method will provide the framework for this project.

 

	
·

	
Requirements: Requirements sessions consist of interviews between MedCAREERS Group and members of our team. These interviews help MedCAREERS Group refine their understanding of system requirements and identify any gaps in the existing documentation.  This is a critical phrase that will be a foundation for the rest of the process.

	
·

	
Design: We begin designing a system from high level module breakdown to detailed design.   The elements of design include user interface abstractions, navigation methods, information architecture.  Detailed design includes software architecture: technology selection, database modeling, system interface design.  Detailed design refines the logic driving the system to the point where it can be unambiguously and efficiently realized in an application.

	
·

	
Development: KOSTYA employs an agile development process. MedCAREERS Group is allowed input and can provide feedback throughout this process. This ensures that clients receive a solution that fits their requirements.

	
·

	
Quality Assurance: KOSTYA enforces strict quality control to ensure that the website emerges from the development process is error-free, reliable and meets MedCAREERS Group objectives.  To facilitate high standards of quality, KOSTYA creates a set of test cases that will be checked after design phase is completed, or before a new release is deployed.

	
·

	
Deployment: KOSTYA will configure and deploy the application for MedCAREERS Group on a production server. We install the completed application and perform functional and performance testing to ensure it is stable at the expected operating conditions.

	
·

	
Maintenance: Our commitment to successful development does not end after the application is launched.  KOSTYA offers services to support and continue to improve the application on an ongoing basis.

 

 

MedCAREERS Group - WorkAbroad.com Development Proposal 

Proprietary & Confidential - KOSTYA, Inc.

  

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4. Our Approach

 

KOSTYA’s approach is to construct a custom website application that is designed specifically to fit the needs of MedCAREERS Group website.

 

High Level Functionality

 

The following are a set of high level functions:

 

Candidate

 

	
  

	
·

	
Job search (boolean, zip code radius), application

	
  

	
·

	
Multiple resumes, document files, video

	
  

	
·

	
Job alerts via email

	
  

	
·

	
RSS job feeds subscription

	
  

	
·

	
Email job to friend, show me jobs like this one

	
  

	
·

	
Registration, login, profile editing

	
  

	
·

	
Single sign on: Ning, BuddyPress, membership website

	
  

	
·

	
Application history, saved jobs, saved searches

	
  

	
·

	
Resume privacy & search control

	
  

	
·

	
Employers directory

	
  

	
·

	
Candidate payments

 

Employer

 

	
  

	
·

	
Job posting, applications tracking, adding video

	
  

	
·

	
Assessment questionnaire

	
  

	
·

	
Resume searching (incl. attached files / zip code radius)

	
  

	
·

	
Resume search agents / email alerts

	
  

	
·

	
Registration, login, account management

	
  

	
·

	
Sub accounts

	
  

	
·

	
Employer profile page

	
  

	
·

	
Employer career portal (branded mini site with job listing)

	
  

	
·

	
Job wrapping service

	
  

	
·

	
Bulk jobs posting via XML interface

	
  

	
·

	
Services purchase via credit card or invoice

	
  

	
·

	
Candidate bulk messaging

 

Administrator

 

	
  

	
·

	
Candidates & resumes management

	
  

	
·

	
Employers management

	
  

	
·

	
Jobs management

	
  

	
·

	
Content Management System

	
  

	
·

	
Look & feel / design customization

 

MedCAREERS Group - WorkAbroad.com Development Proposal 

Proprietary & Confidential - KOSTYA, Inc.

  

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·

	
Simplified content editing via front end

	
  

	
·

	
Personalized widgets / CRM Dashboard

	
  

	
·

	
Advertising / banner management

	
  

	
·

	
Bulk posting integration (XML / HTTP interface, Broadbean)

	
  

	
·

	
Job syndication: XML feeds for Indeed, Oodle, Google Base, etc

	
  

	
·

	
Backfilling: Simplyhired & Indeed jobs within your search results

	
  

	
·

	
Social networks & blogs integration, single sign on

	
  

	
·

	
Job wrapping (spider integrated)

	
  

	
·

	
Auto-post jobs to Twitter

	
  

	
·

	
Customizable registration & seach forms, dropdown listings

	
  

	
·

	
Configurable automated emails

	
  

	
·

	
Mass email marketing integration

	
  

	
·

	
External RSS feeds reader

	
  

	
·

	
25 configurable reports & XLS export

	
  

	
·

	
Candidate & employer data: export & import via CSV

	
  

	
·

	
Flexible pricing (incl. pay per application, charging job seeker)

	
  

	
·

	
Payment systems: Paypal, Authorize.net, Moneybookers

 

Additional Functionality

 

Additional functionality that is can be added to the platform, but not included in the original scope:

 

	
  

	
·

	
XML Spidering

	
  

	
·

	
LinkedIn Integration

	
  

	
·

	
Mobile Version

	
  

	
·

	
Employee Portal

	
  

	
·

	
Multilingual Support

 

Technology

 

Based on our preliminary analysis of the requirements and existing systems, we are anticipating that KOSTYA will license and customize JobMount platform from Apsen Technology Labs for the Job Board functionality.

 

MedCAREERS Group will have an option to purchase complete unencrypted source code for the final product.

 

 

 

MedCAREERS Group - WorkAbroad.com Development Proposal 

Proprietary & Confidential - KOSTYA, Inc.

  

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5. Estimated Cost

 

This project implementation be billed on a Fixed Bid basis. Below is the breakdown of costs by phase project duration.

 

	
Phase

	 	 	 	 	 
	  	 	
Duration (weeks)

	 	
Cost

	 
	
Requirements

	 	1	 	$	1,000	 
	
Specification

	 	1.5	 	$	1,500	 
	
Design

	 	2	 	$	4,000	 
	
Licensing

	 	-	 	$	6,500	 
	
Development

	 	8	 	$	5,500	 
	
Testing

	 	2	 	$	2,000	 
	
Deployment

	 	1.5	 	$	3,000	 
	  	 	16	 	$	21,500	 

 

The pricing above includes $2,000 ad Server integration.

 

Optional components not included in the above price are:

 

	
  

	
·

	
Salary Guide - $3,000

	
  

	
·

	
Job Spidering Technology - $99 / per client / month

	
  

	
·

	
Web Scraping Technology - $99 / 10,000 pages / month

 

Software Maintenance, Production Support and Hosting services are billed on a monthly basis. 12 month support contract is required.

 

	
Service

	 	 	 
	  	 	
Cost

	 
	
Maintenance & Production Support

	 	$	1,500	 
	
Virtual Private Hosting

	 	$	500	 
	  	 	$	2,000	 

 

MedCAREERS Group - WorkAbroad.com Development Proposal 

Proprietary & Confidential - KOSTYA, Inc.

  

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Changes or additions requested by MedCAREERS Group that go beyond the original scope, will be billed at the rates presented below.  Formal change requests must be submitted and accepted by both parties before changes to the project will be incorporated.

 

	
Resource

	 	
Rate (hour)

	 
	
Software Architect

	 	$	100.00	 
	
Developer

	 	$	30 -$80	*
	
Graphical Designer

	 	$	30.00	 
	
Project Manager

	 	$	100.00	 
	
Tester

	 	$	30.00	 
	
System Engineer

	 	$	110.00	 
	
Copy Writer

	 	$	25.00	 

 

* The rates for developers depending on location of the developer and skill-level. KOSTYA currently has development resources in Atlanta USA, Kharkov and Kiev, Ukraine and Rostov-on-Don, Russia

 

6. Estimated Schedule

 

Estimated start time: June, 2010

 

Estimated duration of the project is 16 weeks, with a start time determined by MedCAREERS Group, but no later than July, 2010.

 

8. Additional Services

 

Mobile Development

 

With experience in mobile development, KOSTYA can create a mobile application or version of the website that can be access from mobile devices. We can develop applications for Blackberry, iPhone / iPad and Windows Mobile devices.

 

Managed Hosting

 

KOSTYA offers dedicated, full-service managed hosting for its clients.  After the design phase is complete, KOSTYA will be able to provide MedCAREERS Group with a proposal for website monitoring, hosting and support.

 

Search Engine Marketing

 

KOSTYA offers Search Engine Marketing services, including Search Engine Optimization and Pay-Per-Click Management. We would be glad to discuss various opportunities that would bring traffic to MedCAREERS Group website.

 

 

MedCAREERS Group - WorkAbroad.com Development Proposal 

Proprietary & Confidential - KOSTYA, Inc.

  

-8-

  

 

7. Assumptions

 

In this proposal, KOSTYA made the following assumptions:

 

	
·

	
This proposal does not include Sales or Marketing Services. It will be the sole responsibility of MedCAREERS Group to promote the website and attract employees, candidates and advertisers

	
·

	
MedCAREERS Group project sponsors will be available to KOSTYA to conduct requirement sessions, review designs, and perform user acceptance.

	
·

	
MedCAREERS Group will be responsible for providing Merchant Account information for accepting Credit Card Payment. Authorize.net or PayPal can be used within the platform.

	
·

	
KOSTYA’s guarantees uptime of 99.9% for WorkAborad.com

 

	
·

	
Hosting fees are subject to change if traffic or performance requirements of the website change significantly above the assumed traffic of 30,000 views per day.  Currently, WorkAborad.com is receiving on average 3,000 views per day.

 

	
For MedCAREERS Group:

By: /s/ Robert Bryan Crutchfield

Print Name: Robert Bryan Crutchfield

Title: CEO

 

	
For KOSTYA, Inc.

By: /s/ Konstantin Derenstein

Print Name: Konstantin Derenstein

Title: CEO

 

 

 

MedCAREERS Group - WorkAbroad.com Development Proposal 

Proprietary & Confidential - KOSTYA, Inc.

  

-9-

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