Document:

Exhibit
10.4

 

AMENDMENT
NO. 1

 

ENCISION
INC.

 

1997 STOCK
OPTION PLAN

 

This Amendment No. 1 is
effective as of July 24, 2002 with respect to the 1997 Stock Option Plan (the “Plan”)
of Encision Inc. (the “Company”).

 

The Board of Directors of
the Company recommended and the shareholders of the Company approved on July 24,
2002 an amendment to Section 6.1 of the Plan to increase the aggregate number
of shares of Common Stock that may be issued under Options granted under the
Plan from 800,000 to 900,000.

 

All defined terms not
otherwise defined herein shall have the meaning set for in the Plan.

 

The Plan is hereby
amended as follows:

 

1. Section 6.1 of the
Plan is amended by deleting “800,000” and inserting in lieu thereof “900,000.”

 

Except as amended hereby,
the Plan is unchanged and remains in full force and effect.Exhibit
10.5

 

AMENDMENT
NO. 2

 

ENCISION
INC.

 

1997 STOCK
OPTION PLAN

 

This Amendment No. 2 is
effective as of August 16, 2004 with respect to the 1997 Stock Option Plan (the
“Plan”) of Encision Inc. (the “Company”).

 

The Board of Directors of
the Company recommended and the shareholders of the Company approved on August
16, 2004 an amendment to Section 6.1 of the Plan to increase the aggregate
number of shares of Common Stock that may be issued under Options granted under
the Plan from 900,000 to 1,200,000.

 

All defined terms not
otherwise defined herein shall have the meaning set for in the Plan.

 

The Plan is hereby
amended as follows:

 

1. Section 6.1 of the
Plan is amended by deleting “900,000” and inserting in lieu thereof “1,200,000.”

 

Except as amended hereby,
the Plan is unchanged and remains in full force and effect.ex 10.9 Agreement with MK Trust

    Exhibit
      10.9 

     

    NOTE
      MODIFICATION AGREEMENT 

     

    DATED
      JUNE ______,2004 

     

    PARTIES: 

     

    IBSG
      International, Inc., a Florida corporation with offices at 1132 Celebration
      Boulevard, Celebration, Florida 34747 ("International")
      _____________________________as Trustee of the M & K Trust dated April 16,
      2002, with an address at 14035 Sierra Vista Drive, Orlando, Florida 32837
      ("Trust") 

     

    RECITALS: 

     

    A.
      Trust
      is the owner and holder of beneficial, legal and equitable title to that certain
      promissory note
      dated November 10, 2003 in the face amount of One Million ($1,000,000.00)
      Dollars made by International to the order of Trust, a copy of which is attached
      hereto and markedExhibit
      A(the
      "Note"). 

     

    B.
      International and Trust wish to partially satisfy the Note and to modify the
      payment terms thereof,
      all as more particularly set forth hereinbelow. 

     

    NOW
      THEREFORE, the parties hereto have agreed upon the following terms:

     

    TERMS: 

     

    1.
      The
      foregoing Recitals are true and correct and are incorporated herein.

     

    2.
      Together with the execution hereof, International shall Pay to Trust, the sum
      of
      One Hundred Twenty Five Thousand ($125,000.00); and Issue to Trust, One Million
      Five Hundred Thousand (1,500,000) shares of its $0.001 par value common capital
      stock, which stock shall constitute restricted securities as that term is
      defined in Rule 144 of the Securities Act of 1933, and may not be sold or
      offered for sale except pursuant to an effective registration statement under
      the Securities Act of 1933 or an opinion of counsel for the corporation that
      registration is not required under the Act. 

     

    3.
      Upon
      payment of the sum, and issuance of the shares as described in paragraph 2,
      the
principal
      debt remaining on the Note is hereby reduced to One Hundred Twenty Five Thousand
      ($125,000.00)
      Dollars, which principal sum shall be due, without interest, on January 2,
      2005.

     

    4.
      Upon
      payment of the sum, and issuance of the shares as described in paragraph 2,
      Trust hereby
      releases its security interest in the assets of International, which were
      pledged as security for the Note, which shall continue as an unsecured
      obligation of International. At the request of counsel for International, Trust
      will execute such other and further documentation as may reasonably be requested
      in connection with evidencing the reduction of the debt evidenced by the Note
      and the release of the security interest in the assets of International.

     

    5.
      Except
      as modified herein, all terms and conditions of the Note are hereby ratified
      and
confirmed
      by International. 

     

    IN
      WITNESS WHEREOF, the parties hereto executed this Agreement, and set their
      respective hands and seals hereto as of the day and year first above written.
      

     

    Witnesses:
      M & K Trust 

     

    _____________________________
      

     

    By_______________________________
      

     

    Print
      Name______________________ 

     

    Trustee
      

     

     

     

    IBSG
      International, Inc., a Florida corporation 

     

    ______________________________
      

     

    ______________________________
      

     

    By_____________________________
      

     

    Print
      Name______________________ 

     

    Title____________________________NEED NEED NEED ex 10.11 Agreement for acquisition of Secure Blue, Inc.

    

      .ASSET
        PURCHASE AGREEMENT

       

      ASSET
        PURCHASE AGREEMENT dated as of May, _ _ 2004 among Les Pilkington ("Seller"),
        a resident of Geneva Switzerland and Intelligent Business Systems International
        Inc., a Florida
        corporation with its principle executive offices located at 1132
        Celebration Blvd., Celebration, FL 34747 U.S.A.("Buyer")
         

       

      O.S-A. PREAMBLE

       

      Seller
        desires to sell to Buyer, and Buyer desires to purchase from Seller, certain
        assets of Seller on the terms and conditions hereinafter set forth;

       

      NOW,
        THEREFORE, in consideration of the premises and of the covenants made herein
        and
        of the mutual benefits to be derived herefrom, the parties hereto, intending
        to
        be legally bound,
        agree as follows:

       

       

      ARTICLE
        I
DEFINITIONS

       

      1.1
        Definitions.
        The following words and terms as used in this Agreement shall have the
following
        meanings:

       

      "Affiliate":
        with reference to a specified person, any person that directly or indirectly
        through
        one or more intermediaries controls or is controlled by or is under common
        control with the
        specified person. For purposes of this definition, (i) "control" (including,
        with correlative meaning,
        the terms "controlled by" and "under common control with"), as used with
        respect
        to any person,
        shall mean the possession, directly or indirectly, of the power to direct
        or
        cause the direction
        of the management and policies of such person, whether through the ownership
        of
        voting securities or by contract or otherwise.

       

      "Agreement":
        this Agreement, all Schedules and Exhibits hereto, and all amendments
made
        hereto and thereto by written agreement among the parties.

       

      "Bill
        of Sale": the meaning specified in Section 2.1.

       

      "Business
        Day": a day other than a Saturday, Sunday or day on which commercial banks
        in
        New York City are generally closed for business.

       

      "Buyer":
        the meaning specified in the introductory paragraph. "Buyer Indemnified Party":
        the meaning specified in Section 7.1. "Closing
        and Closing Date": the meanings specified in Section 2.4 "Consent":
        the meaning specified in Section 3.1.2. "Encumbrances":
        the meaning specified in Section 3.1.6.

       

      "Governmental
        Authorizations": the meaning specified in Section 3.1.4. "Loss":
        the meaning specified in Section 7.1. "Purchased
        Assets": the meaning specified in Section 2.1. "Purchase Price": the meaning
        specified in Section 2.2. "Securities Act": the Securities Act of 1933, as
        amended. "Seller":
        the meaning specified in the introductory paragraph. "Seller
        Indemnified Party": the meaning specified in Section 8.1.

       

      1.2
        Interpretation.
        The following provisions shall govern the interpretation of this Agreement:

       

              "Herein"
        and
        "hereunder" and other words of similar import refer to this Agreement as
        a whole
        and not to any particular Article, Section, subsection
        or Exhibit.

        Headings
        or captions are for convenience of reference only and shall not affect
the
        construction or interpretation of 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 individuals shall include
        persons and vice versa.

      
        The
        calculation of
        time within which or following which any act is to be done or step is to
        be
        taken pursuant to this Agreement excludes the date which is the
        reference day in calculating such period.

       

              Whenever
        anything is
        required to be done or any action is required to be taken hereunder
        on or by a day which is not a Business Day, then such thing may be validly
        done
        and such action may be validly taken on or by the next
        succeeding day that is a Business Day.

              As
        used in this
        Agreement reference to dollar amounts, unless otherwise specifically
        indicated, shall mean the lawful money of the United States of
        America.

       

              The
        term "knowledge"
        means, with respect to an individual making a representation
        to his or her "knowledge," those facts and circumstances actually
        known by such individual, and with respect to an entity making a representation
        to its "knowledge," those facts and circumstances actually known
        by any individual who has managerial authority with respect to such
        entity after due inquiry.

      ARTICLE
        II
SALE
        AND PURCHASE OF THE ASSETS

       

      2
        1 Sale
        and Purchase of the Assets.
        Subject to the terms and conditions of this Agreement,
        at the Closing, Seller shall sell, transfer, convey, assign and deliver to
        Buyer, and Buyer
        shall purchase from Seller, all of Seller's right, tide and interest to the
        assets listed on Schedule
        2.1, including but not limited to the source code of the Intellectual Property,
        and all of Seller's
        rights under any service agreements and warranties in connection therewith
        (the
"Purchased
        Assets"), Seller shall convey to Buyer all of Seller's right, title and interest
        in and to the
        Purchased Assets free and clear of any Encumbrance, which conveyance shall
        be
        made pursuant
        to a bill of sale, substantially in the form of Exhibit A attached hereto
        (the
        "Bill of Sale") and the other instruments of conveyance to be delivered pursuant
        to this Agreement.

       

      2.2  Purchase
        Price and Payment.
        The purchase price (the "Purchase Price") to be paid
        by Buyer for the Purchased Assets shall be Two Million Shares of the restricted
        common stock
        of Buyer, with 1,000,000 shares released to Seller at the Closing and 1,000,000
        shares released
        upon achieving the benchmarks described on Schedule 2.2 attached
        hereto.

       

      2.3  Excluded
        Liabilities.
        Buyer not shall assume any debts, liabilities or obligations of
        any kind of Seller or Red Hand Ltd ("Red Hand") a corporation that previously
        owned the Assets,
        nor shall either Buyer assume or incur, or be deemed to assume or incur,
        any
        liability, obligation,
        debt or expense of Seller or Red Hand under this Agreement or otherwise,
        whether
known
        or unknown, fixed or contingent. Seller agrees to satisfy all of such debts,
        liabilities and obligations,
        whether known at Closing or thereafter determined, as and when due and Seller
        shall indemnify
        and hold Buyer harmless therefore, as set forth herein.

       

            
        2.4  Closing.
        The closing of the sale and purchase of the Purchased Assets (the

      "Closing")
        will take place at the offices of on
        May 27,
        2004, as to which date, TIME SHALL BE OF THE ESSENCE, or at such other place,
        time and
        date as the parties may agree upon in writing (the "Closing Date").

       

      2.5 Purchase
        Price Allocation.
        The Purchase Price shall be allocated as reasonably determined
        by Buyer. Seller and Buyer further agree to file all income tax returns or
        reports, including,
        without limitation, IRS Form 8594, for their respective taxable years in
        which
        the Closing
        occurs and to reflect the allocation of Purchase Price as so determined on
        any
        such return or
        report and agree not to take any position inconsistent therewith before any
        governmental agency
        charged with the collection of any tax or in any judicial
        proceeding.

       

       

      ARTICLE
        El 
REPRESENTATIONS
        AND WARRANTIES

       

        
        3.1 Representations
        and Warranties of Seller.
        Seller warrants to the Buyer as follows:

       

           
3.1.1
Authorization.
        The Seller has full power and authority to enter into and perform its
        or his obligations under this Agreement and to consummate the transactions
        contemplated contain
        any untrue statement of a material fact regarding Seller or the Purchased
        Assets
        or omits or
        will omit to state a material fact necessary to make the statements regarding
        Seller or the Purchased
        Assets contained herein or therein, in light of the circumstances in which
        they
        are made, not misleading.

       

      3.1.10  No
        Other Agreement.
        The Seller does not have any contract, agreement, arrangement
        or understanding with respect to the sale or other disposition of any assets
        (including the
        Purchased Assets, except as set forth in this Agreement.

       

      3.1.11  Investment
        Representations.
        Seller will be acquiring Buyer's Common Stock (Buyer's
        Securities") for investment for its own account and not with a view to, or
        for
        resale in connection
        with, any distribution thereof in violation of applicable law, and Seller
        has no
        present intention
        to sell, convey, dispose of or otherwise distribute any interest in or risk
        related to Buyer's Securities
        issued hereunder except pursuant to an effective registration statement or
        in a
        manner consistent
        with the requirements of the federal and state securities laws. Seller has
        no
        contract, understanding,
        agreement or arrangement with any person to sell, assign, or otherwise transfer
        to such
        person, or to any other person, any or all of the Buyer Securities that Seller
        will receive in connection
        with the transactions contemplated by this Agreement. Seller acknowledges
        that
        it understands
        that the Buyer's Securities it will receive hereunder have not been registered
        under the Securities
        Act by reason of a specific exemption from the registration provisions of
        the
        Securities Act
        which depends upon, among other things, the bona fide nature of the investment
        intent as expressed
        herein. Seller hereby agrees that the certificates representing the Buyer
        Securities may bear
        a restrictive legend (and Buyer's transfer agent may be given stop transfer
        instructions) to the effect
        described above and shall include such additional legends as necessary to
        comply
        with applicable
        U.S. federal securities Laws, state blue sky laws and other applicable
        restrictions due to such
        lack of registration.

       

      3.1.13
        Investment Representations, the Seller is an "Accredited Investor", as
        such term is defined
        under Rule 501 promulgated under the Securities Act because each the Seller
        (i)
        is a natural
        person who has an individual net worth, or joint net worth with the Seller's
        spouse of more than
        $1,000,000; or (ii) is a natural person who had an individual income in excess
        of $200,000 in each
        of the two most recent years or joint income with the Seller's spouse in
        excess
        of $300,000 in each
        of those years and has a reasonable expectation of reaching the same income
        level in the current
        year.

       

      3.2
        Representations
        and Warranties of Buyer.
        The Buyer represents and warrants to Seller
        as follows:

       

         
        3.2.1  Corporate
        Existence.
        Buyer is a corporation duly incorporated, validly existing and
        in good standing under the laws of each of their respective states of
        incorporation. Buyer has full
        corporate power and authority to enter into and perform this Agreement and
        to
        consummate the
        transactions contemplated herein.

       

      3.2.2  Authorization.
        The execution, delivery and performance of this Agreement by the
        Buyer and the consummation of the transactions contemplated herein have been
        duly authorized
        by all requisite corporate action. This Agreement has been duly executed
        and
delivered
        Buyer and constitutes the valid, legal and binding obligation of the Buyer
        enforceable in accordance
        with its terms, except as enforceability may be limited by equitable principles
        or by bankruptcy,
        fraudulent conveyance or insolvency laws affecting creditors' rights
        generally.

       

      3.2.1  

      3.2.3  No
        Violation.
        The execution and delivery of this Agreement by the Buyer and the
        consummation of the transactions contemplated herein do not and will not
        violate
        or result in a default
        under the charter or bylaws of the Buyer, or any judgment, order, decree,
        law,
        rule or regulation
        applicable to the Buyer, respectively, except for violations or defaults
        which
        would not prevent
        the consummation of the transactions contemplated by this Agreement. No Consent
        is required
        to be obtained by the Buyer in connection with the execution and delivery
        of
        this Agreement
        by the Buyer or the consummation of the transactions contemplated
        herein.

       

      3.2.4  Brokers:
        Finders.
        Other than TBeck Capital Inc. the Buyer not has retained any broker
        or finder in connection with the transactions contemplated herein so as to
        give
        rise to any valid
        claim for any brokerage or finder's commission, fee or similar
        compensation.

       

      3.2.5  Accuracy
        of Statements.
        Neither this Agreement nor any statement, list, certificate
        or other information furnished or to be furnished by or on behalf of Buyer
        to
        Seller in connection
        with this Agreement or any of the transactions contemplated hereby contains
        or
        will contain
        any untrue statement of a material fact regarding Buyer or will omit to state
        a
        material fact necessary
        to make the statements regarding Buyer contained herein or therein, in light
        of
        the circumstances
        in which they are made, not misleading.

       

      ARTICLE
        IV 
OPERATIONS OF SUBSIDIARY

       

      4.1
        Formation
        of Subsidiary.
        It is agreed that Buyer will form a wholly owned subsidiary that will own
        the
        Purchased Assets. It is also agreed that Les Pilkington shall be Chairman
        of the
        Board and President of the subsidiary. It is agreed that Roy Davis will be
        appointed as the chief executive officer of the subsidiary, and shall execute
        an
        employment agreement
        with the subsidiary within 30 days after the Closing that will reflect the
        terms
        of his employment.

       

      4.2
        Budgets.
        The Subsidiary described in paragraph 41 of this Agreement shall submit to
        the
        Buyer quarterly and annual =budgets for approval by Buyer. Buyer agrees to
        support the approved budget through equity contributions and\or
        loans.

       

      4.3
        Incentive
        Stock Options and Restricted Stock Grants.
        Buyer has agreed to the incentive stock
        options grants and restricted stock grants to Les Pilkington and his key
        management staff and
        the conditions upon which such incentives shall be deemed earned, as described
        in Schedule 4.3 attached hereto.

       

      ARTICLE
        V 
CONDITIONS
        TO CLOSING

       

      5.1
        Conditions
        to Obligation of Buyer.
        The obligation of Buyer under this Agreement
        to purchase the Purchased Assets is subject to the fulfillment, at or prior
        to
        the Closing,
        of each of the following conditions, each of which may be waived in whole
        or in
        part by Buyer in its sole discretion, provided the failure of any condition
        to
        be satisfied is not the result of Buyer's
        breach or default hereunder:

      5.1.1  Representations:
        Performance.
        The representations and warranties of Seller
        contained herein shall be true in all material respects on and as of the
        Closing
        Date. Seller

      shall
        have duly performed and complied in all material respects with all agreements
        and conditions
        required by this Agreement to be performed or complied with by them prior
        to or
        at the Closing.

       

      5.1.2  Certain
        Approvals.
        All Consents required to be obtained by Seller to consummate
        the transactions contemplated herein shall have been obtained.

       

      5.1.3  No
        Proceeding or Litigation.
        No claim, action, suit, arbitration, investigation or other
        formal proceeding shall be pending or threatened on or before the Closing
        which
        (i) seeks to (A)
        enjoin, restrain or prohibit the transactions contemplated herein, (B) impose
        limitations on the ability
        of Buyer to exercise full rights of ownership of the Purchased Assets or
        (C)
        require the divesture
        by Buyer or its Affiliates of any of the Purchased Assets or any other assets
        of
        Buyer or its
        Affiliates by reason of this Agreement, or (ii) could have a material adverse
        effect on the Purchased
        Assets or the use thereof or the transactions contemplated herein.

       

      5.1.4  Purchased
        Assets and Documents Delivered.
        Buyer shall have received at the Closing
        the following documents required to be delivered to Buyer by the Seller at
        the
        Closing as provided
        herein:
            (a)  the
        Bill of Sale;
            (b)    
        all
        other documents and items reasonably required to be delivered by
Seller
        to validly transfer title to the Purchased Assets to Buyer and to otherwise
        consummate the transactions contemplated hereby.

       

      5.2
        Conditions
        to Obligation of Seller.
        The obligation of Seller under this Agreement to
        sell the Purchased Assets is subject to the fulfillment, at or prior to the
        Closing, of each of the following
        conditions, each of which may be waived in whole or in part by Seller in
        its
        sole discretion:

       

             
        5.2.1  Representations;
        Performance.
        The representations and warranties of the Buyer contained
        herein hereof shall be true in all material respects on and as of the Closing
        Date. Buyer shall
        have duly performed and complied in all material respects with all agreements
        and Conditions
        required by this Agreement to be performed or complied with by it prior to
        or at
        the Closing.

       

                      
        5.2.2  Certain
        Approvals.
        All Consents required to be obtained by Buyer to consummate
        the transactions contemplated herein shall have been obtained. 

       

       

              
        5.2.3  No
        Proceeding or Litigation.
        No injunction or order of any court or administrative
        agency of competent jurisdiction shall be in effect and no actions by any
        public
        or governmental
        authority seeking any such injunction or order shall be pending as of the
        Closing Date
        that restrains or prohibits the purchase and sale of the Purchased Assets
        or any
        other action to be
        taken in connection herewith.

       

      5.2.4  Purchase
        Price and Documents Delivered.
        Seller shall have received at the Closing
        certificates evidencing the Purchase Price.

       

      5.2.1  

      ARTICLE
        VI 
POST-CLOSING
        COVENANTS

       

      6.1  Records.
        Seller shall provide Buyer with access to all relevant documents, source
        codes
        and other information pertaining to the Purchased Assets which are needed
        by
        Buyer for the purposes
        of preparing tax returns or responding to an audit by any governmental agency
        or
        for any other
        reasonable purpose.

       

      6.2  Sales
        and Transfer Taxes
        Seller shall be responsible for his individual tax due, including
        preparing applicable returns, and pay all applicable sales, transfer,
        documentary, use, filing
        and other taxes and fees that may become due and payable as a result of the
        sale, transfer and
        delivery of the Purchased Assets. The Buyer shall only be responsible for
        any
        appropriate taxes
        of the US as applies. All other non-US taxes are the responsibility of the
        Seller.

       

      6.3  Tax
        and Financial Cooperation.
        After the Closing, Seller, on the one hand, and Buyer,
        on the other hand, agree to cooperate with each other in connection with
        any
        official tax inquiry,
        tax audit, tax determination or tax-related proceeding affecting the tax
        liability of any party
        hereto or in connection with a determination of any tax liability or treatment
        to make available
        to each other party within a reasonable amount of time, at no cost to such
        party, or its employees
        and officers, together with documents, correspondence, reports, books and
        records of Seller
        and other materials bearing on such tax inquiry, audit, examination, proceeding
        or determination
        of tax liability or treatment, provided that each party shall be reimbursed
        for
        any out-of-pocket
        expenses it incurs in assisting another party hereunder.

       

      6.4  Further
        Assurances.
        Seller, on the one hand, and Buyer, on the other hand, shall cooperate
        and take such actions, and execute all such further instruments and documents,
        at or subsequent
        to the Closing, as either may reasonably request in order to convey tide
        to
        the Purchased
        Assets to Buyer and to otherwise effectuate the terms and purposes of this
        Agreement.

       

      ARTICLE
        VH 
INDEMNIFICATION
        BY SELLER

       

      7.1  Breach
        of Seller's Warranties.
        The Seller , jointly and severally, agrees to indemnify,
        defend and hold harmless Buyer and its shareholders, officers and directors,
        Affiliates, agents
        and employees (each a "Buyer Indemnified Party") from and against and in
        respect
        of any and
        all losses, damages, claims, liabilities, actions, suits, proceedings and
        costs
        and expenses of defense
        thereof, including reasonable attorneys' fees (a "Loss"), suffered or incurred
        by any such party
        by reason of or arising out of breach of the several representations and
        warranties of Seller set
        forth herein, subject to each of the terms, conditions and limitations set
        forth
        in Section 7.3 hereof.

       

       

      

                 
          7.2 Liabilities;
          Breach of Covenants.
          The Seller agrees to indemnify and hold harmless
          each Buyer Indemnified Party from and against and in respect of any and
          all
          Losses suffered
          or incurred by any such party as a result of any and all claims, demands,
          suits,
          causes of action,
          proceedings, judgments and liabilities, including reasonable counsel fees
          incurred in litigation
          or otherwise, assessed, incurred or sustained by or against any of them
          with
          respect to or arising
          out of (i) any Liabilities of Seller or (ii) any breach by Seller of any
          agreement or covenant of
          Seller hereunder.

      

       

      7.1  

      7.3
        Notice
        of Claim; Right to Defend.
        Buyer Indemnified Party shall give to Seller written
        notice of any claim, suit or demand which Buyer Indemnified Party believes
        will
        give rise to
        a claim for indemnification under either Section 7.1 or Section 7.2 hereunder;
        provided, however,
        that the failure of Buyer Indemnified Party to give such prompt written notice
        shall not affect
        the liability of Seller hereunder, except to the extent that the rights of
        Seller to defend themselves
        or to cure or mitigate the damages are actually prejudiced thereby. Thereafter,
        Buyer Indemnified
        Party shall furnish to Seller, in reasonable detail, such information as
        it may
        have with
        respect to such claim, action, suit or proceeding, including copies of any
        summons, complaint
        or other pleading which may have been served upon it or any written claim,
        demand, invoice,
        billing or other document evidencing or asserting the same. Buyer Indemnified
        Party shall
        designate in writing all information and documents which it furnishes to
        Seller
        pursuant to this
        Section 7.3 as being with respect to a claim, action, suit or proceeding
        under
        this Section 7.3. Provided
        Seller, within ten (10) days after receipt of such written notice from Buyer
        Indemnified Party,
        shall acknowledge in writing to Buyer Indemnified Party Seller's assumption
        of
responsibility
        for defense and indemnification with respect to such claim, action, suit
        or
proceeding,
        Seller shall have the right to assume defense of such claim, action, suit
        or
        proceedings through
        counsel selected by Seller at Seller's expense, and to contest or compromise
        such claim, action, suit or proceeding. Upon such assumption of defense by
        Seller, Buyer Indemnified Party shall
        cooperate with Seller in Seller's conduct of such defense to the extent
        reasonably requested by Seller and at Seller's expense and, so long as Seller
        is
        defending such claim, action, suit or proceeding,
        Buyer Indemnified Party shall not settle or compromise the same without Seller's
        prior
        written consent, which consent shall not be unreasonably withheld. Without
        the
        prior written consent
        of Buyer and Buyer Indemnified Party, Seller shall not be entitled to settle
        any
        claim, action,
        suit or proceedings the defense of which has been assumed by Seller if (i)
        the
        Losses to Buyer
        Indemnified Party are not fully covered by the indemnities provided herein,
        or
        (ii) such settlement
        might have a Material Adverse Effect or impose any material condition or
        limitation on the
        business, operations, prospects or condition (financial or otherwise) conducted
        by Seller as of the Closing Date, as continued by Buyer.

       

      ARTICLE
        INDEMNIFICATION
        BY BUYER

       

      8.1  Breach
        of Buyer's Warranties.
        Buyer agrees to indemnify, defend and hold harmless
        Seller and its respective partners, employees, Affiliates and agents, heirs
        and
        assigns (each
        a "Seller Indemnified Party") against and in respect of any and all Losses
        suffered or incurred
        by any such party by reason of or arising out of breach of the several
        representations and warranties
        of Buyer set forth herein, subject to each of the terms, conditions and
        limitations set forth
        in Section 8.3 hereof.

       

      8.2  Assumed
        Liabilities; Breach of Covenants.
        Buyer agrees to indemnify and hold harmless
        each Seller Indemnified Party against and in respect of any and all Losses
        suffered or incurred
        by any such party as a result of any and all claims, demands, suits, causes
        of
        action, proceedings,
        judgments and liabilities, including reasonable counsel fees incurred in
        litigation or otherwise,
        assessed, incurred or sustained by or against any of them with respect to
        or
        arising out of
        the (i) the breach by Buyer of any agreement or covenant of Buyer hereunder
        or
        (ii) the Assumed
        Liabilities.

       

      8.3  Notice
        of Claim: Right to Defend.
        Seller Indemnified Party shall give Buyer prompt
        written notice of any claim, suit or demand which Seller Indemnified Party
        believes will give
        rise to a claim for indemnification under either Section 8.1 or Section 8.2
        hereunder;provided,
        however, that 1 shall
        not effect the liability defend
        itself or to cure or mi! Indemnified
        Party shall fu with
        respect to such Clair complaint
        or other pleading invoice,
        billing or other doc shall
        designate in writing all this
        Section 8.3 as being with Provided Buyer, within ten (1( Party,
        shall acknowledge in responsibility
        for defense and| proceeding,
        Buyer shall have 1 through
        counsel selected by Bi action, suit or proceeding. Upor shall
        cooperate with Buyer in Bv by
        Buyer and at Buyer's expense Proceeding,
        Seller Indemnified prior
        written consent which consent!

       

          9.1
        Survival
        of Repres of
        the respective parties, as set forth it
        \ the
        Closing Date (the ffenses.
        Except fees
        incurred prompt
        written notice of
        Buyer to r,
        Seller hav
        by
        a party of any condition or of any breach of any term, covenant, representation
        or warranty contained herein shall be effective unless in writing, and no
        waiver
        in any one or more instances shall be deemed to be a further or continuing
        waiver of any such condition or breach in any other instances or a waiver
        of any
        other condition or breach of any other term, covenant, representation
or
        warranty.

       

      9.6
        Notices.
        All notices, consents, requests, instructions, approvals and other communications
        provided for herein and all legal process in regard shall be validly given,
        made
        or served,
        if in writing and delivered personally or sent by overnight delivery by a
        nationally recognized
        overnight courier or registered or certified mail, postage prepaid:

       

      If
        to Seller at the following address:

       

      If
        to Buyer, at the following address:

       

      With
        a copy to:

       

      or,
        in each case, at such other address as may be specified in writing, but no
        such
        change shall be deemed
        to have been given until it is actually received by the parties sought to
        be
        charged with its contents.
        All notices and other communications given hereunder shall be effective upon
        delivery if
        delivered personally, if delivered by overnight courier, the next Business
        Day
        after timely deposit
        with such overnight courier, and if delivered by mail, the third Business
        Day
        after deposit in
        the United States mail.

       

      9.7  Submission
        to Jurisdiction.
        Each of the parties hereto hereby consents to the exclusive
        jurisdiction of any State or federal court located within the County of Orange,
        State of Florida
        and irrevocably agrees that all actions and proceedings relating to this
        Agreement or the transactions
        contemplated hereby shall be litigated in such courts. Each of the parties
        hereto waives
        any objection that it may have to the conduct of any action or proceeding
        in any
        such court based
        on improper venue or
        forum non conveniens, waives
        personal service of any and all process upon
        it, and consents that all service of process may be made by mail or courier
        service directed to it
        at the address set forth herein and that service so made shah1
        be deemed to be completed upon the
        earlier of actual receipt or ten (10) days after the same shall have been
        posted. Nothing contained
        in this Section 9.7 shall affect the right of any party hereto to serve legal
        process in any other
        manner permitted by law.

       

      9.8  Entire
        Agreement: Counterparts: Governing Law.
        This Agreement, together with the
        Schedules and Exhibits, constitutes the entire agreement and supersedes all
        prior agreements and
        understandings, both written and oral, among the parties with respect to
        the
        subject matter hereof.
        This Agreement may be executed in any number of counterparts, each of which
        shall be deemed an original, and all of which, together, shall constitute
        one
        and the same instrument. This Agreement shall be governed by the internal
        laws
        of the State of Florida.

       

      (SIGNATURES
        ON FOLLOWING PAGE]

       

      

      IN
        WITNESS WHEREOF, the parties have duly executed this Agreement as of the
        date
        first above written.

      

      SS
        SYSTEMS INTERNATIONAL INC

      

      STATE
        OF

       

      SELLER:

       

      COUNTY
        OF

       

      

      

      

      NOTARY
        PUBLIC

       

      PERSONALLY
        appeared before me, the undersigned authority in and for the county and state
        aforesaid, the within named Michael Rivers, who acknowledged to me that he
        is
        President of Intelligent
        Business Systems International Inc. and who acknowledged that he signed,
        delivered and
        executed the above and foregoing instrument on the date and year therein
        mentioned, for and on behalf of said corporation after first having been
        duly
        authorized so to do. GIVEN
        under my hand and official seal, this the 2
        day
        of May 2004.

      MY
        COMMISSION EXPIRES:

      ner
        Notary tadoa,
        England

       

      My
        commission is for life

       

      

      STATE
        OF ENGLAND

       

      COUNTY
        OF LONDON

       

      PERSONALLY
        appeared before me, the undersigned authority in and for the county and state
        aforesaid, the within named James Pilkington that he signed, delivered and
        executed the above and foregoing instrument on the date and year therein
        mentioned.

      GIVEN
        under my hand and official seal, this the 24th day of May, 2004. 

      

      

       

      Scrivener
        Notary

       

      NOTARY
        PUBLIC MY
        COMMISSION EXPIRES:

      My
        commission is for life London,
        England

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