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This document is an agreement whereby the assignor assigns and transfers to the assignee all of assignor's rights and interests in and to the described property and assets. As drafted, this agreement is between a stockholder who assigns his or her rights to specific assets and a company which issues shares to the assignor as consideration. This document contains standard clauses but the terms and provisions of this document can be modified to fit the needs of the drafting parties. It should be used by stockholders or other individuals located in Pennsylvania who are seeking to assign certain assets.
Assignment of Assets Docstoc Legal Agreements This Assignment of Assets is an Agreement whereby the Assignor assigns and transfers to Assignee all of Assignor's rights and interests in and to the within described property and assets. ALL INFORMATION AND FORMS ARE PROVIDED “AS IS” WITHOUT ANY EXPRESS OR IMPLIED WARRANTY, INCLUDING AS TO LEGAL EFFECT OR COMPLETENESS. They are for guidance and should be ® modified by you or your attorney to meet your specific needs and the laws of your state. Use at your own risk. Docstoc, its employees or contractors who wrote or modified any form, are NOT providing legal or any other kind of advice and are not creating or entering into an Attorney-Client relationship. The information and forms are not a substitute for the advice of your own attorney. Subject to our Terms of Service (http://www.docstoc.com/popterm.aspx?page_id=15). See back cover page and read more here (http://www.docstoc.com/popterm.aspx?page_id=114) for additional disclaimers and more. This document is not approved, endorsed by, or affiliated with any State, or governmental or licensing entity. Entire document © Docstoc, Inc., 2010, 2011. Attorney Drafted ASSIGNMENT OF ASSETS THIS ASSIGNMENT OF ASSETS AGREEMENT is made this ____ [Day] of ____ [Month], 20____, by and between ___________________________ [Instruction: Insert the name of stockholder] (hereinafter referred to as the "Stockholder") and _________________________ [Instruction: Insert the name of the company], a company established under the laws of Pennsylvania located at _____________________________ [Instruction: Insert the address of the company] (hereinafter referred to as the "Company"). WITNESSETH: WHEREAS, the Company was lawfully formed by Articles of Incorporation filed with the Secretary of State of Pennsylvania; and WHEREAS, certain assets must be lawfully transferred to the Company so the Company may be capitalized; and WHEREAS, the Stockholder wishes to transfer and the Company wishes to acquire certain assets, as specified in Exhibit A, attached; and IT IS HEREBY AGREED, for and in consideration of the mutual covenants and agreements hereinafter entered into, as follows: 1. The Stockholder herewith transfers and assigns to the Company those assets specified in Exhibit A, attached. 2. The Company herewith issues to the Stockholder ____________________________ [Instruction: Insert the number of shares issued] shares of stock in the Company, par value ________ ($___) [Instruction: Insert the value per share, e.g., Five hundred dollars ($500)] per share, in consideration of the abovementioned transfer and assignment of assets. SIGNATURES: __________________________ Stockholder’s Printed Name __________________________ Stockholder’s Signature __________________________ Company Representative’s Printed Name __________________________ Company Representative’s Signature __________________________ Witness #1’s Printed Name __________________________ Witness #1’s Signature __________________________ Witness #2’s Printed Name __________________________ Witness #2’s Signature EXHIBIT A Note: Carefully read and follow the Instructions and Comments contained in this document for your customization to suit your specific circumstances and requirements. You will want to delete the Instructions and Comments from open bracket (“[“) to close bracket (“]”) after reading and following them. You (or your attorney) may want to make additional modifications to meet your specific needs and the laws of your state ◊Where within this document you see this symbol: ◊ or an instruction states “Insert any number you choose◊,” or something similar, or there is a blank for the user to complete, please note that although Docstoc believes the information or number may be any that the user chooses, and that there is no law governing what the information or number should be, you might want to verify this, including by consulting with your own attorney practicing in your state, and be reasonable. INFORMATION AND FORMS ARE PROVIDED "AS IS" WITHOUT ANY EXPRESS OR IMPLIED WARRANTY OF ANY KIND INCLUDING WARRANTIES OF MERCHANTABILITY, NONINFRINGEMENT OF INTELLECTUAL PROPERTY, OR FITNESS FOR ANY PARTICULAR PURPOSE. IN NO EVENT SHALL DOCSTOC, INC., OR ITS AGENTS, OFFICERS, ATTORNEYS, ETC., BE LIABLE FOR ANY DAMAGES WHATSOEVER (INCLUDING, WITHOUT LIMITATION, DAMAGES FOR LOSS OF PROFITS, BUSINESS INTERRUPTION, LOSS OF INFORMATION) ARISING OUT OF THE USE OF OR INABILITY TO USE THE MATERIALS, EVEN IF DOCSTOC HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. Your use of this document is deemed to be your agreement to the foregoing, the disclaimers on the cover page, and that you have read and agree to our Terms of Service (http://www.docstoc.com/popterm.aspx?page_id=15), as well as our disclaimer that Legal information is not legal advice, and the important content available here: Read More (http://www.docstoc.com/popterm.aspx?page_id=114) _id=114)
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