EX-10.2 4 g14215exv10w2.htm EX-10.2 SHARE SURRENDER AGREEMENT EX-10.2 Share Surrender Agreement
Exhibit 10.2
SHARE SURRENDER AGREEMENT
     THIS SHARE SURRENDER AGREEMENT (this “Agreement”) is made as of this 14th day of July, 2008, by and among Longfoot Communications Corp., a Delaware corporation (the “Company”), Frost Gamma Investments Trust (“FGIT”), Dr. Jane Hsiao (“Dr. Hsiao”), Dr. Subbarao Uppaluri (“Dr. Uppaluri”), Steven D. Rubin (“Rubin”), Sim Farar (“Farar”) and PP6O, LLC (“PP6O”, and together with FGIT, Dr. Hsiao, Dr. Uppaluri, Rubin and Farar, the “Stockholders” and each such person, a “Stockholder”).
     WHEREAS, in connection with the transactions contemplated by a Merger Agreement (as may be amended or supplemented, the “Merger Agreement”), to be dated on or about the date hereof, by and among the Company, Kidville Holdings, LLC, a Delaware limited liability company, and Kidville Merger Corp. Inc., a Delaware corporation, the Stockholders have deemed it appropriate to surrender to the Company certain shares (the “Shares”) of common stock, par value $0.001 per share, of the Company, as set forth on Schedule A hereto.
     NOW, THEREFORE, in consideration for their mutual promises and intending to be legally bound, the Parties agree as follows:
     1. Surrender of Shares
          (a) Surrender and Acceptance by Company. The Stockholders hereby surrender (the “Surrender”) to the Company, and the Company hereby accepts from the Stockholders, the Shares, free and clear of any liens, mortgages, adverse claims, charges, security interests, encumbrances, any interest of any third party or other restrictions or limitations whatsoever of any kind.
          (b) Effective Time of Surrender. The Surrender shall become effective at one minute prior to the Effective Time (as defined in the Merger Agreement).
     2. Applicable Law. This Agreement shall be governed by the laws of the State of Delaware without regard to the rules of conflict of laws of such state that would cause the laws of another jurisdiction to apply.
     3. Entire Agreement; Amendments. This Agreement and the documents contemplated hereby represent the entire agreement among the parties hereto with respect to the subject matter hereof, and no amendment hereto shall be effective unless in writing and signed by the party sought to be charged thereby.
     4. Counterparts; Facsimile Signature. This Agreement may be executed in one or more counterparts, each of which shall be deemed an original, but all of which, together, shall constitute one and the same instrument. Facsimile and other electronically scanned signatures shall be deemed originals for all purposes of this Agreement.
     5. Benefits; Binding Effect. This Agreement shall be for the benefit of and binding upon the parties hereto and their respective heirs, personal representatives, legal representatives, successors and, where permitted and applicable, assigns, including, without limitation, any successor to the Company, FGIT or PP6O, whether by merger, consolidation, sale of stock, sale of assets or otherwise.
[Signatures Follow on Next Page]

 


 

     IN WITNESS WHEREOF, the undersigned have executed this Agreement as of the date first written above.
         
  LONGFOOT COMMUNICATIONS CORP.
 
 
  By:   /s/ Alan Jay Weisberg    
    Name:   Alan Jay Weisberg   
    Title:   Chief Financial Officer   
 
  FROST GAMMA INVESTMENTS TRUST
 
 
  By:   /s/ Dr. Phillip Frost    
    Name:   Dr. Phillip Frost   
    Title:   Trustee   
 
  PP6O, LLC
 
 
  By:   /s/ Sim Farar    
    Name:   Sim Farar   
    Title:   Member   
 
     
  /s/ Dr. Jane Hsiao, Ph.D.    
  Dr. Jane Hsiao, Ph.D.   
     
 
     
  /s/ Dr. Subbarao Uppaluri    
  Dr. Subbarao Uppaluri   
     
 
     
  /s/ Steven D. Rubin    
  Steven D. Rubin   
     
 
     
  /s/ Sim Farar    
  Sim Farar   
     
 
Signature Page to Share Surrender Agreement

 


 

Schedule A
               
 
  Stockholder     Number of Shares Surrendered    
 
Frost Gamma Investments Trust
      1,168,836    
 
Dr. Jane Hsiao
      292,208    
 
Dr. Subbarao Uppaluri
      81,169    
 
Steven D. Rubin
      81,169    
 
Sim Farar and PP6O, LLC, collectively
      586,672