AIRBORNE WIRELESS NETWORK (OTCMKTS:ABWN) Files An 8-K Entry into a Material Definitive AgreementItem 1.01 Entry into a Material Definitive Agreement.
On December 26, 2017, Airborne Wireless Network, a Nevada corporation (the “Company”), and Intellicom Technologies, Ltd. (“ITC”) entered into a Services Agreement (the “Services Agreement”) under which ITC agreed to provide skilled communications engineering services to the Company. Under the Services Agreement, the Company agrees to pay for the applicable services in accordance with ITC’s stated billable hourly rates, and will pay any invoices received for such services within 30 days of receipt of an invoice. The Company also agreed to reimburse ITC for all expenses incurred in accordance with its provision of the services, so long as the Company has approved of the incurrence of such expenses in advance.
The term of the Services Agreement expires upon the completion of all services to be provided thereunder by ITC, and also may be terminated by either party without cause upon 30 days’ prior written notice. The Services Agreement contains standard events of default, which, if experienced by one party, permit the other party to terminate upon written notice. ITC has committed: (i) to keep confidential all confidential or proprietary information of the Company disclosed to it in connection with its provision of the services; (ii) to assign all title and interest in any intellectual property which relate to, is suggested by or results from its provision of the services under the Services Agreement; and (iii) to indemnify the Company for any losses arising from ITC’s failure to comply with applicable laws or regulations, ITC’s breach of any representations, warranties or covenants contained in the Services Agreement or ITC’s negligence. For a period of two years following the expiration of the term or earlier termination Services Agreement, the Company will not employ or engage, or solicit for employment or engagement, any ITC employees who provided services to the Company under the Services Agreement.
There is no material relationship between the Company or its affiliates and ITC other than in respect of the Services Agreement, except that ITC began providing services to the Company in February of 2017 without a written contract. This description of the Services Agreement does not purport to be complete and is qualified in its entirety by reference to the terms of the Services Agreement, which is attached hereto as Exhibit 10.1 and incorporated herein by this reference.
Item 8.01 Other Events.
On January 2, 2018, the Company issued a press release announcing its entry into the Services Agreement. A copy of the press release is attached as Exhibit 99.1 and is incorporated herein by reference.
Item 9.01. Financial Statement and Exhibits.
AIRBORNE WIRELESS NETWORK ExhibitEX-10.1 2 abwn_ex101.htm SERVICES AGREEMENT abwn_ex101.htmEXHIBIT 10.1 SERVICES AGREEMENT THIS SERVICES AGREEMENT,…To view the full exhibit click
About AIRBORNE WIRELESS NETWORK (OTCMKTS:ABWN)
Airborne Wireless Network, formerly Ample-Tee, Inc., is a development-stage company. The Company is developing a meshed network. The Company is seeking opportunities for the acquisition of assets. For its wholesale carrier network, the Company intends to use commercial aircraft as mini-satellites. The Company’s wholesale carrier network would be the airborne broadband pipeline, providing connectivity for broadband carrier services using commercial aircraft. As of May 31, 2016, the Company had no operations and had not earned any revenues.