from 8-K
1 page
<page> Assignment Agreement for License Agreement Rxsystems, Inc. (Hereinafter "Rxsystems") and Surforama.com, Inc. (Hereinafter "Surforama"), Intending to Be Legally Bound, Agree as Follows: Whereas Rxsystems Is the Holder of a License Agreement (Hereinafter "License") Issued by Rtin Holdings, Inc. (Hereinafter "Rtin") on March 19, 2002 for $3,500,000. Whereas Rxsystems Desires to Assign, Convey, and Transfer the License to Surforama. Now Therefore, 1. in Consideration for the Payments Described in Item 3 Below, Rxsystems Hereby Transfers, Assigns, and Conveys All of Their Right, Title, and Interest in the License to Surforama. 2. Surforama Hereby Agrees to Indemnify Rxsystems for Any Claims With Respect to the License Against the Company in Any Amount Now or in the Future. 3. Surforama Agrees To: A. as Provided in the License, Pay to Rtin $3,176,615 in Monthly Payments in the Amount of $25,000.00 Through December 1, 2005, With the Remaining Balance to Be Paid as Determined by the Negotiations of Surforama and Rtin; B. Reimburse David Parker $370,000 in a Form of Consideration and Schedule of Payments to Be Determined by the Negotiations of David Parker and Surforama for Personal Monies Advanced by Mr. Parker to Secure the License. 4. This Agreement Shall Be Considered a Binding Agreement and an Immediate Assignment of Rights. Executed on This 27th Day of May, 2003 Rxsystems, Inc. Surforama.com, Inc. /S/ David B. Parker /S/ David B. Parker By: David B. Parker By: David B. Parker Its: CEO; President Its: CEO; President
