AGREEMENT TO SELL URL (Universal Resource Locator)
Agreement made this 24th day of November, 1999 by and between CardTek
(International) Holdings Ltd., Suite 2B, Mansion House, 000 Xxxx Xxxxxx,
Xxxxxxxxx (hereinafter referred to as "Seller") and Power Direct, Inc. of
Delaware, USA (hereinafter referred to as the "Buyer").
Whereas the Seller desires to sell and the buyer desires to buy the four (4)
assets known as the URL (Universal Resource Locator) registered as
"Xxxxxx0x.xxx", "Xxxxxxxx0x.xxx", "Xxxxxxxxxx0x.xxx" and "Xxxxxxxxx0x.xxx", the
parties hereto agree and covenant as follows:
1. The total purchase price for the URL is eight hundred thousand (800,000)
shares of Power Direct. Inc.'s restricted (rule 144) common stock.
2. The shares are to be delivered at the time of the passing ownership papers
of the URL's to the Buyer by the Seller.
3. The property to be sold hereunder shall be conveyed by a standard Xxxx of
Sale, duly executed by the Seller.
4. The Seller promises and agrees to convey good, clear, and marketable title
to all the property to be sold hereunder, the same to be free and clear of
all liens and encumbrances.
5. Consummation of the sale, with payment by the Buyer of total purchase price
and the delivery by the Seller of a Xxxx of Sale, will take place on or
before February 24th, 2000.
6. All of the terms, representations and warranties shall survive the closing.
This Agreement shall bind and inure to the benefit of the Seller and Buyer
and their respective heirs, executors, administrators, suctessors and
assigns.
7. If this Agreement shall contain any term or provision which shall be
invalid or against public policy or if the application of same is invalid
or against public policy, then, the remainder of this Agreement shall not
be affected thereby and shall remain in full force and effect.
IN WITNESS WHEREOF, the parties hereto have caused this instrument to be
executed in duplicate on November 24th, 1999.
/s/ X. Xxxxx /s/ Xxxx Sha
------------------------ ------------------------
SELLER Xxxxxxx Xxxxx BUYER Xxxx Sha
Director President
IMT, Inc. Power Direct, Inc.
on behalf of
CardTek (International) Holdings Ltd.
E-48
