Document:

btzo_ex101.htm

EXHIBIT 10.1

 

COMPROMISE AND SETTLEMENT AGREEMENT AND GENERAL RELEASE

 

This  Settlement  Agreement  (“Agreement”) is  made  by  and  between  Bitzio,  Inc.,  a Delaware corporation (“Bitzio”) and Dvaraka Marketing, LLC, a California limited liability company (“Dvaraka”) and Amish Shah, an individual residing in California (“Shah”).  Shah and Dvaraka are herein after referred to jointly as “the Shah Parties.”  This Agreement is effective as of this 15th day of August, 2012 (“Settlement Effective Date”).  Bitzio and the Shah Parties are sometimes referred to collectively herein as the “Parties” and/or individually as a “Party.”

 

RECITALS

 

A.        Dvaraka and Bitzio entered into a consulting agreement dated December 1, 2011 (the “Dvaraka Consulting Agreement”) pursuant to which Dvaraka provides the services of Shah.

 

B.         Shah and Bitzio have entered into a stock option agreement dated September 30, 2011 (the “Option Agreement”) in connection with the acquisition of Digispace Solutions, LLC, pursuant to which Shah was granted an option to purchase 500,000 shares of common stock of Bitzio (the “Options”).

 

C.         Pursuant to agreements dated August 3, 2011, September 1, 2011, September 30, 2011, and December 19, 2011, Bitzio (through its wholly owned subsidiary Digital Solutions, Inc. dba DigiSpace Holdings, Inc.),  purchased  on  January  10,  2012  all  of  the  equity  of  Digispace Solutions LLC from Shah and his former partner, Jose Rivera (collectively, the “Digispace Share Acquisition Agreement”).

 

D.         Subsequently, Digital Solutions, LLC merged into Digital Solutions, Inc. with Digital Solutions, Inc. the surviving entity.

 

E.         Certain disputes have arisen regarding the terms of the Dvaraka Consulting Agreement and the DigiSpace Share Acquisition Agreement and each party’s compliance with the terms thereof, as well as disputes over Shah’s performance of his duties as an officer and director of Bitzio and/or certain of its subsidiaries, and various actions taken in relation thereto (the “Dispute”).

 

F.         Following good faith negotiations, with no Party admitting liability, the Parties seek to extinguish all claims which they have or may have against each other arising from the  Dispute, save and except only breaches of obligations of this Agreement and the related agreements incorporated herein.

 

I.  AGREEMENT

 

Except for the obligations set forth in this Agreement, each party, in consideration of the promises and concessions made by the other, hereby compromises and settles any and all past, present, or future claims, demands, obligations, or causes of action, whether based in tort, contract, or other theory or theories of recovery, at law or in equity, which that party has against the other party and/or the other party's predecessors and/or successors in interest, heirs, assigns, and agents, arising from the Dispute.

 

  

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II.  CONSIDERATION

 

In consideration of this Settlement Agreement, the Parties have entered into the mutual releases set forth below and the agreements and covenants set forth herein.   In addition, the Parties hereby (a) terminate the Dvaraka Consulting Agreement and the Option Agreement, and (b) concurrently enter into the Shah Agreement in the form attached hereto as Exhibit A, including  the  DigiSpace  Asset  Purchase  Agreement  and  the  TAC  Purchase  Agreement referenced therein.  The DigiSpace Asset Purchase Agreement, TAC Purchase Agreement and the Shah Agreement are incorporated herein as though fully set forth.  This Agreement is the Settlement Agreement referenced in Article 1.3 of the Shah Agreement.   Shah hereby resigns as an officer and director of Bitzio and of each and every subsidiary of Bitzio.

 

III.  RELEASES

 

Release by the Shah Parties. With the exception of the representations, warranties, and/or obligations under this Agreement, which are not released, Shah and Dvaraka, for and on behalf of himself and itself, and his and its present and future executors, trustees, beneficiaries, administrators, trusts, parent, subsidiary and affiliated companies, successors, affiliates, assigns, officers, partners, directors, employees, shareholders, managers, members, lenders, attorneys, and agents, or any and all other persons who could claim through him or it (collectively, the “Shah Releasors”), do hereby unconditionally and irrevocably remise, release, acquit, forever discharge and covenant not to sue Bitzio, or its trustees, beneficiaries, administrators, trusts, parent companies, subsidiaries, successors, affiliates, assigns, officers, directors, employees, shareholders, managers, members, and agents, including, without limitation, all current and former officers and directors of Bitzio and each of its subsidiaries, from any and all claims, counterclaims, actions, causes of action, suits, debts, demands, set-offs, costs, losses, expenses, sums of money, accounts, reckonings, debts, charges, complaints, controversies, disputes, damages, judgments, executions, promises, omissions, duties, agreements, indemnitees, rights, and any and all demands, obligations and liabilities, of whatever kind or character, direct or indirect, both in law and in equity, whether known or unknown or capable of being known, suspected or unsuspected, and whether or not concealed or hidden, which have existed or may have existed or which do exist or may exist.

 

Release by Bitzio. With the exception of the representations, warranties, and/or obligations under this Agreement, which are not released, Bitzio, for and on behalf of itself, and its subsidiaries, affiliated companies, successors, affiliates, assigns, officers, partners, directors, employees, shareholders, managers, members, lenders, attorneys, and agents, or any and all other persons who could claim through it (collectively, the Bitzio Releasors), do hereby unconditionally and irrevocably remise, release, acquit, forever discharge and covenant not to sue Shah or Dvaraka, or his or its administrators, executors, trustees, beneficiaries, administrators, trusts, parent companies, subsidiaries, successors, affiliates, assigns, officers, directors, employees, shareholders, managers, members, and agents, including, without limitation, all current and former officers and directors of Dvaraka and each of its subsidiaries, from any and all claims, counterclaims, actions, causes of action, suits, debts, demands, set-offs, costs, losses, expenses, sums of money, accounts, reckonings, debts, charges, complaints, controversies, disputes, damages, judgments, executions, promises, omissions, duties, agreements, indemnitees, rights, and any and all demands, obligations and liabilities, of whatever kind or character, direct or indirect, both in law and in equity, whether known or unknown or capable of being known, suspected or unsuspected, and whether or not concealed or hidden, which have existed or may have existed or which do exist or may exist.

 

  

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IV.  FULL RELEASE OF KNOWN AND UNKNOWN CLAIMS WAIVER OF LEGAL RIGHTS

It is the intention of the Shah Parties and Bitzio that this Agreement be effective as a full release of each and every matter to which specific or general reference is made herein. The Shah Parties and Bitzio expressly acknowledge the limiting provisions of  Cal.Civ.C., § 1542.   The Shah Parties and Bitzio each acknowledge that each is familiar with, and has discussed with their respective counsel, § 1542, which provides as follows:

 

	A general release does not extend to claims which the creditor does not know or suspect to exist in his or her favor at the time of executing the release, which if known by him or her must have materially affected his or her settlement with the debtor.

 

The Shah Parties and Bitzio each waives and relinquishes any rights and benefits which each has or may have under  Cal.Civ.C. § 1542 to the full extent that each may lawfully waive all such rights and benefits pertaining to the subject matter of this Agreement. The Shah Parties and Bitzio each acknowledge that each is aware that they may hereafter discover facts in addition to or different from those which they now know or believe to be true with respect to the subject matter of the Agreement, but it is their mutual intention herein to fully and finally forever settle and release any and all matters, disputes, and differences, known or unknown, which heretofore have existed between them, except as are created herein. In furtherance of this mutual intent, the releases herein given shall be, and will remain, in effect as full and complete general releases, notwithstanding discovery or existence of any additional or different facts hereafter.

 

The Shah Parties and Bitzio agree that the settlement and compromise herein is in their collective best interests.

 

V.  MUTUAL REPRESENTATIONS

Each Party to this Agreement hereby represents, warrants and agrees as follows:

 

A.        Such Party has received competent and independent legal advice from its counsel regarding the meaning and legal effect of and the advisability of entering into this Agreement and fully understands the same;

 

B.         Each of the Parties is the owner of the claims herein released and have not assigned to any person or entity any claims against any other Party whom they are releasing herein;

 

C. Each person executing this Agreement warrants that he or she has the full right and authority to enter into this Agreement on behalf of the Party on whose behalf he or she purports to act and the full right and authority to bind fully said Party to the terms and obligations of this Agreement; and

 

D. This Agreement and the releases set forth above shall be valid and enforceable notwithstanding any breach or failure to perform by any Party of this Agreement or of the DigiSpace Asset Purchase Agreement or Shah Consulting Agreement.

 

  

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VI.   NONDISPARAGEMENT

 

The Parties agree that they will not make any negative or derogatory remarks about the other party. In this regard, the Parties agree that they each shall be entitled to indicate that, the dispute between the Parties has been resolved amicably. Any other statement about the relationship of the Parties, including any press release or communication to vendors, suppliers, employees and third-parties, if beyond merely confirming certain terms of this Agreement, shall be provided to the other party in advance for approval or disapproval, provided that if such disclosure is required by applicable law, the other party shall act reasonably and provide either approval or comments, in writing, within two (2) days of request, or shall be deemed to have granted approval.

 

VII.   ADDITIONAL COVENANTS AND CONDITIONS

 

A.        Successors, Assigns and Third Parties:  This Agreement shall inure to the benefit of and be binding upon the Parties to this Agreement and their respective owners, heirs, successors, assigns, attorneys, agents, employees, directors, consultants, advisors, representatives (past and present), and each of them.  Further, the releases of the Parties and entities who are not signatories to this Agreement are made expressly for their benefit and they shall be deemed third party beneficiaries of this Agreement and the General Releases contained herein.

 

B.        Further Assurances:   The Parties agree to perform such acts and to prepare, execute and file any documents or stipulations reasonably required to perform the covenants contained herein, to satisfy the conditions contained herein or to give full force and effect to this Agreement.

 

C.        Meaning of Pronouns and Effect of Captions:   As used in this Agreement, the masculine, feminine and/or neuter gender, in the singular or plural, shall be deemed to include the others whenever the text so requires. Captions and paragraph headings are inserted solely for convenience and shall not be deemed to restrict or limit the meaning of the text.

 

D.        Interpretation:  Each Party acknowledges that it has received independent legal advice regarding this Agreement and has had the opportunity to negotiate modifications to the language of this Agreement.   Accordingly, in any dispute regarding the interpretation or construction of this Agreement, no presumption shall operate in favor of or against any Party by virtue of its role in drafting or not drafting the terms and conditions set forth herein.

 

E.        Admissions:  This Agreement is intended to be in compromise and settlement of doubtful, disputed and unliquidated claims.   Nothing herein shall constitute or be asserted as constituting any admission of liability or wrongdoing by or against any Party.

 

F.        Counterparts:  This Agreement may be signed in one or more counterparts, each of which shall be deemed an original.  This Agreement shall be deemed fully executed when all Parties have executed at least one of the counterparts, even though no single counterpart bears all such signatures.

 

  

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G.         Notices: All notices required hereunder may be given as follows:

	
(a)

	
To the Shah Parties:

	
Dana B. Robinson, Esq. Techlaw LLP

	  	  	
3655 Nobel Dr. Ste. 620

San Diego, CA 92122

	  	  	
dana@techlawllp.com

	 	 	 
	
(b)

	
To Bitzio

	
Bitzio, Inc.

	 	 	548 Market Street, Suite 18224
	 	 	San Francisco, California 94104
	 	 	 
	 	 	
With a copy by email to:

David Lewis

	 	 	davidllewis@rogers.com

 

H.        Governing  Law:    This  Agreement  shall  be  governed  by  and  construed  in accordance with the laws of the State of California and deemed performed in the County of San Diego, California.  The parties consent to the jurisdiction and venue of the U.S. District Court, Southern District of California, as set forth above.

 

  

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IN WITNESS WHEREOF, the Parties have executed this Settlement Agreement effective on the day and year set forth above.

 

	
 

	
By: 

		 
	 	 	AMISH SHAH	 
	 	 	 	 
	 	 	DVARAKA MARKETING, LLC, a limited liability	 
	 	 	company formed under the laws of California	 
	 	 	 	 
	 	 	 	 
	 	By: 		 
	 	 	AMISH SHAH, CEO	 
	 	 	I am authorized to bind DVARAKA MARKETING, LLC.	 
	 	 	 	 
	 	 	 	 
	 	 	BITZIO, INC., a corporation incorporated under the laws of Nevada	 
	 	 	 	 
	 	By: 		 
	 	 	William Schonbrun CEO 

I am authorized to bind Bitzio, Inc.

	 

 

 

6btzo_ex102.htm

EXHIBIT 10.2

 

AGREEMENT

 

THIS AGREEMENT (the "Agreement") is effective as of August 31, 2012 (the “Effective Date”)

B E T W E E N:

DVARAKA MARKETING, LLC, a limited liability company formed under the laws of the State of California, with a principal place of business at 8605 Santa Monica Blvd., Suite 57149, Los Angeles CA 90069 ( “Dvaraka”)

 

- and -

 

AMISH SHAH, and individual with an address at 8605 Santa Monica Blvd., Suite 57149, Los Angeles CA  90069 (“Shah”)

 

- and -

BITZIO, INC., a corporation incorporated under the laws of the State of Nevada, with a principal place of business at 548 Market Street, Suite 18224, San Francisco, California 94104 ( “Bitzio”),

 

each a “Party” and collectively, the “Parties”.

 

WHEREAS Dvaraka and Bitzio have entered into a consulting agreement dated December 1, 2011 (the “Consulting Agreement”) pursuant to which Dvaraka provides the services of Shah;

 

AND WHEREAS Shah and Bitzio have entered into a stock option agreement dated September 30, 2011 (the “Option Agreement”) in connection with the acquisition of Digispace, pursuant to which Shah was granted an option to purchase 500,000 shares of common stock of Bitzio (the “Options”);

 

AND WHEREAS pursuant to agreements dated August 3, 2011, September 1, 2011, September 30, 2011, and December 19, 2011, Bitzio (through a wholly owned subsidiary) agreed to purchase all of the shares of Digispace Solutions LLC from Shah and his former partner, Jose Rivera (collectively, the “Digispace Agreement”;

THIS AGREEMENT WITNESSES that in consideration of the covenants and agreements contained herein and other good and valuable consideration, the sufficiency of which is hereby acknowledged, the Parties agree as follows:

 

  

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ARTICLE ONE - ACQUISITION OF THE ASSETS OF DIGISPACE SOLUTIONS LLC FROM BITZIO

	
1.1

	
Subject to the terms and conditions set out in a definitive Asset Purchase Agreement and in consideration of the terms and conditions of this Agreement, Bitzio agrees to sell to Shah and Shah agrees to acquire from Bitzio the assets and liabilities associated with Digispace Solutions LLC (“Digispace”) as set forth in the Asset Purchase Agreement set out in Schedule A attached hereto (the “Digispace Purchase Agreement”).

	
1.2

	
The acquisition  of Digispace  shall be on an “As Is” basis  and not affect  any monies  paid by Bitzio (directly or indirectly) to Digispace or Shah, investments made therein or debts incurred thereby.

 

	
1.3

	
The Parties agree to waive any legal action they may have in connection with representations as to the liabilities of the company under the Digispace Agreement, as further set forth in the Settlement Agreement, attached hereto as Exhibit B (the “Settlement Agreement”).

 

	
1.4

	
As part of the acquisition of Digispace as set out in 1.1 above, Bitzio shall include, inter alia, the assets know as “The App Code” info product (“TAC”) and “Everyone Apps”. These assets shall be transferred to Shah (or as he directs) solely on an “As Is” basis with no representations or warranties of any nature. TAC includes any trademarks web information and other related materials, as set forth in the purchase agreement attached hereto as Exhibit C (the “TAC Purchase Agreement”).

	
1.5

	
Any non-­‐Digispace expenses that Bitzio is currently charging to Digispace accounts will be transitioned to Bitzio prior to completion of the acquisition of Digispace.

 

	
1.6

	
Any costs or commissions related to Digispace or sales of TAC incurred prior to the acquisition, shall remain the responsibility of Bitzio, including, without limitation, $44,051 owed to joint venture affiliates for past TAC commissions (the “JV’s”), to be paid within forty-­‐five (45) days of closing. Payment to the JV’s will be facilitated by arranging to have Studio 23, Inc. DBA: “App Empire” pay $44,051 of the accounts payable due to Bitzio for September 2012 and October 2012 (the “Chad Funds”) to the trust account of Dana Robinson, with funds being paid by Robinson to the JV’s in the amounts set out in Exhibit D attached hereto. Should the Chad Funds not be sufficient to cover the sums due to JV’s by October 31, 2012, Shah shall provide written notice of the amount of the shortfall and Bitzio shall pay such amounts to Robinson within fifteen (15) days of receipt of the notice. In the event that Bitzio fails to make such payment (if necessary) Bitzio will agree to unlock Shah’s shares such that he may liquidate a sufficient amount of stock to repay the JV’s himself, and then seek reimbursement from Bitzio for any sums so paid. All sales of Bitzio stock shall be made in an orderly manner and shall be subject to all applicable regulations. Dvaraka is not responsible for accounting fees incurred as of the date of August 22, 2011.

 

	
1.7

	
Shah’s merchant account contains a sum held in reserve which Shah will retain as the funds are released.

 

	
1.8

	
Shah will take responsibility for hosting, at Shah’s expense, the seminar for Master Mind group members that was to be hosted by Bitzio.

 

  

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1.8

	
Shah shall be granted a perpetual, non-­‐resellable, non-­‐transferable, non-­‐sublicensable, royalty-­‐ free license to use Bitzio’s Apwall and Adwall, which license is provided on an AS IS basis with not warranties or indemnities related thereto.

 

	
1.9

	
Bitzio will cooperate with Shah in the transfer of the Digispace assets, and the assets of TAC and EA, including, for a period of forty-­‐five (45) days from Closing, making commercially reasonable efforts to provide prompt responses and support to Shah in the transition and transfer of websites, data, databases, software, agreements, and relationships, at no cost to Shah or Dvaraka. Bitzio will close the Digispace bank account within a reasonable time after Closing (but no more than 30 days after Closing), and ensure that any auto-­‐payments that are assumed by Dvaraka are transitioned, and any auto-­‐payments that are not assumed by Dvaraka are paid in full and terminated.

 

ARTICLE TWO - TERMINATION OF CONSULTING AGREEMENT

 

	
2.1

	
Shah shall be granted a perpetual, non-­‐resellable, non-­‐transferable, non-­‐sublicensable, royalty-­‐ free license to use Bitzio’s Apwall and Adwall, which license is provided on an AS IS basis with not warranties or indemnities related thereto.

 

	
2.2

	
The Consulting Agreement is terminated without cause, as of the Effective Date. Notwithstanding anything to the contrary in the Consulting Agreement, the Digispace Agreement or in any other agreement or understanding between the Parties or any affiliate thereof, the Parties agree that no cash, shares or option amounts, including penalty payments due or accruing, are owed or owing thereunder, no notice or pay in lieu of notice shall be made and that no fees, penalties or other amounts are due or payable as a result of such termination.

 

	
2.3

	
Shah shall resign as an officer and director of Bitzio as of the Effective Date. All communications (whether in writing or verbal) regardless of medium or forum, shall state the reason for the resignation was “to allow Shah to pursue other interests”. Shah will be entitled to access to his amish@bitzio.com email address for sixty (60) days after the Effective Date, and for sixty (60) days thereafter an autoresponder will be placed on his amish@bitzio.com email directing recipients to contact Shah at a new e-­‐mail address. Shah will be permitted to use this account for receiving e-­‐mail only and will not respond from this account or send any mail out from it.

 

	
2.4

	
Shah shall not have any non-­‐compete or restrictions related to the Consulting Agreement.

 

ARTICLE THREE - TERMINATION OF OPTION AGREEMENT

 

	
3.1

	
The Option Agreement and all Options thereunder are terminated as of the Effective Date.

 

	
3.2

	
Each Party hereby releases and forever discharges the other Party, and its officers, directors, employees, shareholders and agents (collectively the “Releasees”) from any and all actions, causes of action, claims, complaints and demands whatsoever arising from the Option Agreement, this Agreement or the termination of the Option Agreement.

 

	
3.3

	
The Parties each further agrees not to make any claim or commence any proceedings against any other individual, partnership, association, trust, unincorporated organization or corporation with respect to any matters which may have arisen between the Parties in connection with the termination of the Option Agreement, this Agreement or the termination of the Options.

 

  

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ARTICLE FOUR - LOCK-UP OF SHARES

	
4.1

	
Shah agrees to lock up all common stock of Bitzio owned, held or controlled in any way, either directly  or  indirectly  by  Shah,  Dvaraka  or  any  affiliate  of  Shah  or  Dvaraka  (the  “Shares”) pursuant to the following terms:

 

	
 

	 	4.1.1	

no Shares may be sold or transferred in any way prior to January 1, 2012;

 

	
 

	 	4.1.2	

During the period from January 1, 2012 to June 30, 2013, no more than 250,000 Shares (in the aggregate) may be sold or transferred, provided that all such sales or transfers shall be pursuant to a 10B-­‐5 filing and shall not exceed one percent (1%) of the daily sales volume of Bitzio shares on any day, and in the event that 250,000 shares have not been sold by June 30, 2013, Shah may continue selling shares until he has sold an aggregate 250,000 shares at no more than one percent (1%) of the daily sales volume of Bitzio shares on any day;

 

	
 

	 	4.1.3	

During the period from July 1, 2013 to June 30, 2014, Shares sold shall be subject to the SEC Rule 144 provisions, as if Shah is an officer or director of Bitzio (regardless as to his actual status during that period);

 

	
 

	 	4.1.4	

All directors  and officers of Bitzio are subject to statutory  lockups/restrictions  on their ability to sell Bitzio stock.   Notwithstanding  the provisions set out in clauses 4.1.1 -­ 4.1.4 above, if Bitzio puts in place a formal lock-­‐up program for its directors and officers which offers greater liquidity, or additional benefits or more favourable terms  than  as set out herein,  Shah  shall  be permitted  to participate  on the same terms.

 

	
 

	 	4.1.1	

Subject to the prior written approval of Bitzio, Shah may enter into a private agreement to sell the Shares, provided such agreement does not adversely affect Bitzio or any funding or other agreements that it may have or be planning.

 

ARTICLE FIVE - INTERPRETATION AND ENFORCEMENT

	
5.1

	
Sections and Headings

 

The division of this Agreement into Articles and Sections and the insertion of headings are for the convenience of reference only and will not affect the construction or interpretation of this Agreement. The terms “this Agreement”, “hereof”, “hereunder” and similar expressions refer to this Agreement and not to any particular Article, Section or other portion of this Agreement. References in this Agreement to “$” or “dollars” refer to United States dollars. References in this Agreement to Articles and Sections refer to articles and sections of this Agreement, unless expressly stated otherwise.

 

  

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5.2

	
Number and Gender

 

In this Agreement, words importing the singular number only shall include the plural and vice versa, and words importing the masculine gender  shall  include the feminine and neuter genders and vice versa, and words importing persons shall include individuals, partnerships, associations, trusts, unincorporated organizations and corporations and vice versa.

 

	
5.3

	
Entire Agreement

 

This Agreement, and the Exhibits hereto, constitute the entire agreement between the Parties with respect to the subject matter hereof and replaces and supersedes any prior understandings and agreements between them with respect thereto. There are no representations, warranties, forms, conditions, undertakings or collateral agreements, express or implied, between the Parties with respect to the subject matter hereof, other than as expressly set forth in this Agreement.

 

	
5.4

	
Amendments and Waivers

 

No amendment to this Agreement shall be valid or binding, unless set forth in writing and duly executed by all Parties. No waiver of any breach of any term or provision of this Agreement will be effective or binding, unless made in writing and signed by the Party purporting to give the same and, unless otherwise provided in the written waiver, will be limited to the specific breach waived. Any handwritten changes made to this Agreement (with the exception of the Effective Date when the Effective Date is handwritten onto the Agreement) must be initialled by all Parties in order to be binding on the Parties.

 

	
5.5

	
Severability

 

If any provision of this Agreement is determined to be invalid or unenforceable in whole or in part, such invalidity or unenforceability will attach only to such provision or part thereof, and the remaining part of such provision and all other provisions hereof shall continue in full force and effect.

 

	
5.6

	
Notices

 

Any demand, notice or other communication to be given in connection with this Agreement will be given in writing and may be given by personal delivery, by electronic delivery (with proof of successful transmission) or by registered or certified mail, return receipt requested, addressed to the recipient as follows:

 

	
To the Dvaraka and Shah:

	
8605 Santa Monica Blvd.

Suite 57149 

Los Angeles California, 90069

	 	 
	To Bitzio:	
Bitzio, Inc. 

548 Market Street, Suite 18224

San Francisco, California 94104

 

or such other address or individual as may be designated by notice by either party to the other.

 

  

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Any communication given by personal delivery will be conclusively deemed to have been given on the day of actual delivery thereof; or if made or given by electronic delivery, on the business day following receipt thereof; or if made or given by registered or certified mail, on the 7th day, other than a Saturday, Sunday or Statutory holiday in California, following the deposit thereof in the mail.

If the party giving any communication  knows or ought reasonably to know of any difficulties with the postal system that might affect the delivery of mail, then such communication will not be mailed but will be given by facsimile or personal delivery.

 

	
5.7

	

Governing Law

 

This Agreement will be deemed to have been entered into, and will be governed by, and interpreted and construed in accordance with the laws of the State of California.

 

	
5.8

	
Court Jurisdiction

 

For  the  purpose  of  all  legal  proceedings  this  Agreement  shall  be  deemed  to  have  been performed in the State of California.   The Corporation and the Consultant each hereby attorns to the exclusive jurisdiction of the courts of the State of California and all courts competent to hear appeals therefrom.

 

	
5.9

	
Counterparts

 

This Agreement may be executed in two or more identical counterparts, facsimile counterparts or electronic counterparts, each of which when executed by a party shall be deemed to be an original and such counterparts shall together constitute one and the same Agreement.

 

	
5.10

	
Copy of Agreement

The Consultant acknowledges receipt of a copy of this Agreement duly signed by the Consultant and the Corporation.

 

Signature page follows

 

  

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

 

	
 

	
By: 

		 
	 	 	
AMISH SHAH

	 
	 	 	 	 
	 	 	
DVARAKA MARKETING, LLC, a limited liability

company formed under the laws of California

	 

 

 

	
 

	
By: 

		 
	 	 	AMISH SHAH, CEO	 
	 	 	
I am authorized to bind DVARAKA MARKETING, LLC.

	 
	 	 	 	 
	 	 	 	 
	 	 	BITZIO, INC., a corporation incorporated under the laws of Nevada	 
	 	 	 	 
	 	By:		 
	 	 	
William Schonbrun, CEO

	 
	 	 	
I am authorized to bind Bitzio, Inc.

	 

 

  

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Schedule A

Digispace Purchase Agreement

 

 

 

 

 

  

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Schedule B

Settlement Agreement

 

 

 

 

 

  

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Schedule C

TAC Purchase Agreement

 

 

 

 

 

  

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Exhibit D

List of JVs to be Paid from the Chad Funds

 

 

 

 

 

 

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