Amendment to Limited Asset Purchase Agreement between iMedicor, Inc. and ClearLobby, Inc.

Contract Categories: Business Finance › Purchase Agreements
Summary

This amendment to the Limited Asset Purchase Agreement between iMedicor, Inc. (formerly Vemics, Inc.) and ClearLobby, Inc. confirms that the transfer of 2,000,000 shares of restricted common stock from iMedicor to ClearLobby will fully satisfy all outstanding payments owed under their original agreement. ClearLobby must acknowledge receipt of the shares within two business days. After six months, iMedicor will provide a legal opinion to remove share restrictions, provided SEC Rule 144 requirements are met.

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EX-10.19 2 ex10-19.htm ex10-19.htm
Exhibit 10.19

AMENDMENT TO THE LIMITED ASSET PURCHASE AGREEMENT DATED SEPTEMBER 22, 2008 BETWEEN VEMICS, INC. (NOW iMEDICOR, INC.) AND CLEARLOBBY, INC.
 
Payment of 2,000,000 shares of restricted 144 Common Stock of Imedicor, Inc., a Nevada Corporation (formerly known as Vemics, Inc., and currently trading under the symbol VMCI) shall, upon the receipt by ClearLobby, Inc., (the acknowledgment of which shall be made by ClearLobby to Imedicor via electronic mail within two (2) business days of receipt) be deemed as payment in full of all monies due and owing ClearLobby, Inc., from Vemics, Inc., (now known as Imedicor, Inc.) pursuant to the Agreement entered into on September 11, 2008 between ClearLobby, Inc., and Vemics, Inc. 
 
Imedicor, Inc., agrees that upon the six (6) month anniversary of the issuance date of the aforementioned shares, Imedicor's general counsel shall provide, and Imedicor shall make every effort to ensure its counsel provides, within five (5) calendar days of request, a legal opinion that the restrictions on the aforementioned shares can be removed, as long as the rules governing SEC Rule 144 that pertain to Imedicor and ClearLobby are met and satisfied.
 

AGREED:

iMedicor, Inc.:
  
   
/s/ Fred Zolla
September 3, 2009
Fred Zolla – CEO
Date
   
   
   
ClearLobby, Inc:
  
   
/s/ Sean Hanlon
September 3, 2009
Sean Hanlon - Owner
Date
   
   
   
ClearLobby, Inc:
  
   
/s/ Greg Englehardt
September 3, 2009
Greg Englehardt - Owner
Date