CONTRIBUTIONAGREEMENT
ThisCONTRIBUTIONAGREEMENT (this“Agreement”)isenteredinto effectiveas ofJuly4th,2014(the“EffectiveDate”),byandbetweenBlueFashionCorp.,aNevadacorporation(“BlueFashion”)andGimworkProjectLP(“Contributor”).
RECITALS:
A.Contributor desirestocontributeandassignallofitsassetsandliabilitiesassociatedwithitssearchtechnologysoftwareandonlineplatform(the“Business”)toBlueFashioninreturnforcommonstock,parvalue$0.001pershare,ofBlueFashion(the“CommonStock”).
C. BlueFashionagreestoacceptsuchassetcontributionandassumesuchliabilitiesofContributorpursuanttothetermsofthisAgreement.
NOW,THEREFORE,forgoodandvaluableconsideration,thereceiptandsufficiencyofwhichthepartiesherebyacknowledge,thepartiesheretoagreeasfollows:
1. ContributionandIssuanceofCommonStock.
(a) AsoftheEffectiveDate,Contributordoesherebyassign,transferanddelivertoBlueFashionallofContributor’sright,titleandinterestinandtoallassets,bothtangibleandintangible,ownedbyContributorpriorthedatehereof,andallrights,privileges,dutiesandobligationsofContributorassociatedwith the Business (the “Assigned Assets and Assumed Liabilities”), including,without limitation:
(i) all accounts,including,withoutlimitation,depositaccounts,investmentaccounts,allpresentandfuturerightsofContributortopaymentforservicesrendered,allaccountsreceivable,notesreceivable,contractrights,bookdebts,debentures,draftsandotherobligationsorindebtednessowingtoContributor,nomatterhowtheyarise (including,withoutlimitation,any such obligation thatmight be characterized asan account, contractright orgeneral intangible undertheUCCin effect in any jurisdiction);
(ii) all inventory,including,withoutlimitation,allgoods,merchandiseandotherpersonalproperty,nowownedbytheContributor;
(iii) all intellectualproperty,including,withoutlimitation,royalty rights, copyrights,trademarksanddomainnames;
(iv) all realpropertyownedbyContributor;
(v) all contractrights, includingwithout limitation,all contractsassociated withthe Business;
(vi) allfurniture,fixturesandequipment;
(vii) all ofContributor’sunsatisfieddebts,claims,commitments,suits,obligations,andotherliabilities,(whetherabsolute,accrued,assertedorunasserted,fixed,contingentorotherwise)arisingoutofContributor’sownershipof theAssignedAssetsandfromtheoperationofContributor’s Businessorotheractivitiesof Contributor prior to the Effective Date including, without limitation, contractual obligations (including lease obligations), local,state and federal taxes, license fees, accrued and unpaid costs of overhead, employment related liabilities (including wages and liabilities related to employee benefit), liabilities that may arise from adverse claims, disputes,proceedings, investigations or inquiries (asserted, instituted or rendered, or otherwise existing or occurring, priorto, onorat anytimeafter, theEffectiveDate) arisingout ofContributor’s ownership of the Assigned Assets, fromthe operation of theContributor’s Businessor other activities of Contributor prior to the Effective Date, accounts payable and trade debts and commitments based on express or implied warranties, and any taxes, fees, expenses, liabilities,debtsorobligationsof Contributorrelating to thisAgreement; and
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(viii) anycostsandexpensesincurredortobeincurredinconnectionwiththetransferandassumptionofthesame.
(b) BlueFashionherebyacceptstheassignmentandassumptionoftheAssignedAssetsandAssumedLiabilitiesandagreestoassumeandperformallagreements,covenantsandobligationsrequiredofContributorthereunder.
(d) InconsiderationoftheAssignedAssetsandAssumedLiabilities,BlueFashionshallissuetoContributorOneHundredThousandShares(100,000)sharesoffullypaidandnon-assessableCommonStock.
2. FurtherAssurances.Eachpartyheretoagreestoexecute,acknowledge,deliver,file,recordandpublishsuchfurtherinstrumentsanddocumentsanddoallsuchfurtheractionthingsasmayberequiredbylaw,orasmayberequiredtocarryouttheintentandpurposeofthisAgreement.
3. ThirdPartyConsents.IfandtotheextenttheassignmentofanycontractofContributorrequiresthirdpartyconsent,ContributoragreestouseitsbesteffortstopursueandobtainsuchconsentassoonaspracticablefollowingtheEffectiveDate.
4. SuccessorsandAssigns.ThisAgreementshallbebindinguponthepartiesheretoandtheirrespectiveexecutors,administrators,successorsandassigns,andshallinuretothebenefitofthepartiesheretoand,exceptasotherwiseprovidedherein,theirrespectiveexecutors,administrators,successorsandassigns.
5. Venue;GoverningLaw.Eachofthepartiesheretoconsentstothejurisdictionofanycourtin Clark County,Nevadaforany action arising outofmatters relating to this Agreement.ThisAgreementshallbeinterpreted,construedandgovernedbyandinaccordancewiththelawsoftheStateofNevadawithoutregardtotheconflictsoflawprinciplesthereof.
6. Notices.Allnoticesrequiredorpermittedhereundershallbesentinaccordancewiththeprovisionsandtotheaddressesmaintainedintherecordsofeachparty.
7. Waiver.Nofailureordelaybyeitherpartyinexercisinganyrighthereundershalloperateasawaiverthereofnorshallanysingleorpartialexercisethereofprecludeanyotherorfurtherexerciseofanyotherrighthereunder.Anyagreementonthepartofapartyheretotoanysuchextensionorwaivershallbevalidonlyifsetforthinaninstrumentinwritingsignedonbehalfofsuchparty.
8. EntireAgreement.ThisAgreement(includinganyschedulesandexhibitshereto)constitutestheentireagreement,andsupersedesallotherprioragreements,understandings,representationsandwarranties,bothwrittenandoral,amongthepartiesheretowithrespecttothesubjectmatterhereof.
9. Severability.TheprovisionsofthisAgreementshallbedeemedseverableandtheinvalidityorunenforceabilityofanyprovisionshallnotaffectthevalidityorenforceabilityoftheotherprovisionshereof.IfanyprovisionofthisAgreement,ortheapplicationthereoftoanypersonoranycircumstanceisdeterminedbyacourtofcompetentjurisdictiontobeinvalid,illegal,voidorunenforceablethe remaining provisions hereof, shall, subject to the following sentence, remain in full force and effect and shall in no way be affected, impaired or invalidated thereby, so long as the economic or legal substance of the transactions contemplated hereby is not affected in any manner adverse to any party. Upon suchdeterminationthat any provisionor the application thereof is invalid, illegal, void or unenforceable, the parties hereto shall negotiate in good faith to modify this Agreement so as to effect the original intent of the parties as closely as possible in a mutually acceptable manner so that the transactionscontemplated hereby are consummated as originally contemplated to the fullest extent permitted by applicablelaw.
10. Amendment.ThisAgreementmaybechangedonlybyanagreementinwritingsignedbythepartieshereto.
11. Counterparts.ThisAgreementmaybeexecutedinoneormorecounterpartsandassoexecutedshallconstituteasingleinstrument.
[SIGNATURESTOFOLLOW]
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INWITNESSWHEREOF,thepartiesheretohaveexecutedthisAgreementeffectiveasofthedatesetforthintheintroductoryparagraphhereof.
| BLUEFASHIONCORP. |
| By:/s/ Authorized Signatory |
| Name: |
| Title: ChiefExecutiveOfficer |
| Gimwork ProjectLP |
| By:/s/ Rasmus Refer |
| Name: RasmusRefer |
| Title: Owner |
| By:/s/ Michael Heiberg |
| Name: MichaelHeiberg |
| Title: CEO and Owner |
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