Attached files
file | filename |
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8-K - Green Technology Solutions, Inc. | v205233_8k.htm |
EX-10.2 - Green Technology Solutions, Inc. | v205233_ex10-2.htm |
Exhibit
10.3
SALE AND
ASSIGNMENT OF
RIGHTS
UNDER JOINT VENTURE AGREEMENT
BE IT
KNOWN, that on the 8th day of
November, 2010, before me, KATHLEEN M. DELANEY, Notary Public, duly commissioned
and qualified, personally came and appeared:
INNOVATIVE
ENERGY SYSTEMS, INC., a Wyoming corporation located at 2710 Thomas Ave.,
Cheyenne, WY and represented herein by THOMAS CLOUD, President, hereafter
referred to as “SELLER”;
Who
declared that for the price of TWO HUNDRED FIFTY THOUSAND AND NO/100
($250,000.00) DOLLARS cash, receipt of which is acknowledged, SELLER hereby
sells, transfers and delivers with full title and assignment to all rights
SELLER may have, unto:
GREEN
TECHNOLOGY SOLUTIONS, INC., a Delaware corporation located at 2880 Zanker Rd.,
Suite 203, San Jose, CA 95134 and represented herein by JOHN SHEARER, President
hereafter referred to as “PURCHASER”;
The
following described contract:
JOINT
VENTURE AGREEMENT between Innovative Energy Systems, Inc. and Bio Pulp Works,
LLC dated November 3, 2010 and attached hereto.
The
Assignor warrants and represents that said contract is in full force and effect
and is fully assignable.
The
Assignee hereby assumes and agrees to perform all the remaining obligations of
the Assignor under the contract and agrees to indemnify and hold the Assignor
harmless from any claim or demand resulting from the non-performance by the
Assignee.
The
Assignee shall be entitled to all rights under the contract previously held by
the Assignor, which rights are also assigned hereunder.
The
Assignor warrants that the contract is without modification, and remains on the
terms contained.
The
Assignor further warrants that it has full right and authority to transfer said
contract and that the contract rights herein transferred are free of lien,
encumbrance, or adverse claim.
This
assignment shall be binding upon and inure to the benefit of the parties, their
successors and assigns.
INNOVATIVE
ENERGY SYSTEMS, INC.
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GREEN
TECHNOLOGY SOLUTIONS, INC.
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BY:
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By:
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THOMAS
CLOUD, President
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JOHN
SHEARER, President
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