Exhibit 10.5
ASSIGNMENT AGREEMENT
THIS AGREEMENT is made effective this 16th day of July, 2005.
BETWEEN:
SOUND REVOLUTION RECORDINGS INC., a company incorporated under the laws of British Columbia
("Sound Revolution" )
OF THE FIRST PART
AND:
CHARITY TUNES INC. , a company incorporated under the laws of Delaware
("Charity Tunes" )
OF THE SECOND PART
AND:
DAVID HERSK d.b.a HERSK & ASSOCIATES with an address at 18 Western Terrace, Minneapolis, MN, 55426 USA
(" Hersk" )
OF THE THIRD PART
WHEREAS:
A. Sound Revolution and Charity Tunes are each wholly owned subsidiaries of Sound Revolution Inc., a Delaware company whose shares are listed for trading on the Over-the-Counter Bulletin Board under the symbol SRVN. Sound Revolution Inc. and its subsidiaries are participating in a re-organization whereby Sound Revolution Inc. and Sound Revolution are transferring all assets related to their music downloads business to Charity Tunes;
B. Sound Revolution is a party to an Agreement with Hersk which was entered into on or about January 11, 2005, whereby Hersk granted to Sound Revolution rights to perform and distribute a catalogue of approximately 6,664 sound recordings for a period of six years (the " Agreement" );
C. Sound Revolution now wishes to assign to Charity Tunes all of Sound Revolution' s rights, title and interests in the Agreement;
1
D. Hersk wishes to consent to the assignment contained in this agreement.
NOW, THEREFORE, in consideration of the foregoing and the mutual agreements contained herein, the parties hereto agree as follows:1. Sound Revolution hereby grants, assigns, transfers and sets over absolutely and unconditionally unto Charity Tunes all of its rights, title and interest, both in law and ...
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