EXHIBIT 10.2
ASSIGNMENT OF INTELLECTUAL PROPERTY
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1. For good and valuable consideration received from CYNET, INC.
("Assignee"), a Texas corporation, the receipt and sufficiency of which is
xxxxxx acknowledged, XXX XXXXX ("Assignor"), an individual of Xxxxxx County,
Texas, does hereby transfer and assign to Assignee, its successors and assigns,
all of his rights, title and interest, in and to all of the intellectual
property in which he owns an interest. "Intellectual Property" means all (i)
patents, patent applications, patent disclosures, and all related continuation,
continuation-in-part, divisional, reissue, reexamination, utility, model,
certificate of invention and design patents, patent applications, registrations,
and application for registrations, (ii) trademarks, service marks, trade dress,
logos, trade names, and corporate names and registrations and applications for
registration thereof, (iii) copyrights and registrations and applications for
registration thereof, (iv) mask works and registrations and applications for
registration thereof, (v) computer software, data and documentation, (vi) trade
secrets and confidential business information, whether patentable or
unpatentable and whether or not reduced to practice, knowhow, manufacturing and
production processes and techniques, research and development information,
copyrightable works, financial, marketing, and business data, pricing and cost
information, business and marketing plans and customer and supplier lists and
information, (vii) other proprietary rights relating to any of the foregoing,
and (viii) copies of tangible embodiments thereof.
2. Assignor represents and warrants that he owns the intellectual property
transferred hereby free and clear of any and all liens, pledges, encumbrances,
and claims of any kind or nature whatsoever other than as set out in this
agreement and that Assignor has the full right to transfer such intellectual
property and such contracts.
3. The terms and provisions of this Assignment shall be binding upon and
inure to the benefit of the parties hereto and their respective heirs,
executors, administrators and assigns. This Assignment shall be construed in
accordance with the laws of the State of Texas.
4. Assignee agrees to pay Assignor $250,000 upon execution of this
assignment agreement.
5. The effective date of this assignment is March 3, 1997.
ASSIGNEE:
CYNET, INC.
By: /s/ XXX XXXXX
Xxx Xxxxx, its President
ASSIGNOR:
/s/ XXX XXXXX
Xxx Xxxxx
/s/ XXXXXXX XXXXX
Witness
