Altira Assumption Agreement among Argo, Inc., Safetek Acquisition Corp., and Altira Capital & Consulting, LLC

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Summary

This agreement, dated May 25, 2001, is between Argo, Inc. (Assignor), Safetek Acquisition Corp. (Assignee), and Altira Capital & Consulting, LLC. It transfers all of Argo's rights and obligations under a prior consulting agreement with Altira to Safetek Acquisition Corp. Altira consents to this transfer. The agreement ensures that Safetek Acquisition Corp. will assume all responsibilities and benefits of the original consulting agreement with Altira, effective immediately.

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EX-10.4 6 safe8k50401ex104.txt ALTIRA ASSUMPTION AGREEMENT ALTIRA ASSUMPTION AGREEMENT THIS AGREEMENT dated this 25th day of May, 2001 between Argo, Inc. a Israeli corporation ("Assignor"); Safetek Acquisition Corp. a Delaware corporation ("Assignee"); and Altira Capital & Consulting, LLC. ("Altira"). W I T N E S S E S T H : WHEREAS, Assignor is a party to that certain contract (the "Altira Consulting Agreement") dated ____________ _____, 2001, between Argo and Altira, Inc; WHEREAS, Assignor wishes to assign its interest in the Altira Consulting Agreement to Assignee, and Assignee is willing to accept such assignment; WHEREAS, Altira is also a party to the Altira Consulting Agreement between Argo and Altira, and Altira is willing to consent to the Assignment by Assignor to Asignee of Assignor's interest in the Altira Consulting Agreement. N O W T H E R E F O R E , In consideration of the Premises and for other good and valuable consideration, the Parties hereto agree that: 1. Assignor hereby assigns to Assignee, and Assignee hereby irrevocably and unconditionally assumes, all of the rights, conditions, and obligations of Assignor in the Altira Consulting Agreement between Argo and Altira. 2. Altira hereby consents to the foregoing Assignment. Argo, Inc. Safetek Acquisition, Inc. (Assignor) (Assignee) By: ______________________________ By: ______________________________ Zvi Nachum, President Shmuel M. Shneibalg, President Altira, Inc. By: ______________________________ Rob Shorr, President