Termination of Asset Purchase Agreement among Local.com Corporation, Rovion, Inc., and DigitalPost Interactive, Inc.
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Summary
Local.com Corporation, Rovion, Inc., and DigitalPost Interactive, Inc. have mutually agreed to terminate their Asset Purchase Agreement, originally dated February 11, 2011. This termination is effective immediately as of March 23, 2011, and releases all parties from their obligations under the original agreement. The decision was made in accordance with the terms set out in Section 8.1(a) of the original contract.
EX-10.1 2 a59098exv10w1.htm EX-10.1 exv10w1
Exhibit 10.1
Termination of Asset Purchase Agreement
Pursuant to Section 8.1(a) of that certain Asset Purchase Agreement (the “Agreement”) dated February 11, 2011, by and among Local.com Corporation, a Delaware corporation with a principal address of 7555 Irvine Center Drive, Irvine, CA 92618 (“Buyer”); Rovion, Inc., a Delaware corporation with a principal address of 76 Summer Street, 5th Floor, Boston, MA 02110 (“Subsidiary”); and DigitalPost Interactive, Inc., a Nevada corporation with a principal address of 4040 Barranca Parkway, Suite 220, Irvine, CA 92618 (“DGLP” and together with Subsidiary, “Seller”), Buyer and Seller hereby agree to terminate the Agreement effective immediately, this 23rd day of March, 2011.
IN WITNESS WHEREOF, the parties have executed this Termination of Asset Purchase Agreement as of March 23, 2011.
BUYER: Local.com Corporation | SELLER: DigitalPost Interactive, Inc. |
By: | /s/ Heath Clarke | By: | /s/ Michael Sawtell | |||||||
| Heath Clarke Chief Executive Officer | Michael Sawtell Chief Executive Officer | |||||||||
| Subsidiary: | ||||||||||
| Rovion, Inc. | ||||||||||
| By: | /s/ Brian Goss | |||||||||
| Brian Goss President | ||||||||||
