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Global Epoint Inc – ‘10KSB’ for 12/31/99 – EX-10.32

On:  Friday, 6/2/00, at 4:49pm ET   ·   For:  12/31/99   ·   Accession #:  950123-0-5556   ·   File #:  1-15775

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  As Of                Filer                Filing    For·On·As Docs:Size              Issuer               Agent

 6/02/00  Global Epoint Inc                 10KSB      12/31/99    5:220K                                   RR Donnelley/FA

Annual Report — Small Business   —   Form 10-KSB
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10KSB       On-Point Technology Systems, Inc.                     51    294K 
 2: EX-10.26.1  Amendment No. 4 to Loan and Security Agreement         3     14K 
 3: EX-10.28.2  English Translation of Contract                       13     44K 
 4: EX-10.32    Stipulated Judgment Against Us Telecard, Inc.          3     14K 
 5: EX-27       Financial Data Schedule                                1      6K 

EX-10.32   —   Stipulated Judgment Against Us Telecard, Inc.

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EXHIBIT 10.32 MILES D. SCULLY (SBN 135853) KEVIN W. ALEXANDER (SBN 175204) GORDON & REES, LLP 101 West Broadway, Suite 1600 San Diego, CA 92101 Telephone: (619) 696-6700 Facsimile: (619) 696-7124 Attorneys for Plaintiff ON-POINT TECHNOLOGY SYSTEMS, INC. SUPERIOR COURT OF CALIFORNIA-COUNTY OF SAN DIEGO ON-POINT TECHNOLOGY SYSTEMS, ) CASE NO. GIC735997 INC., a Nevada Corporation, ) ) Plaintiff, ) STIPULATED JUDGMENT ) vs. ) ) U.S. TELECARD, INC., a Georgia ) corporation, RICK ARRINGTON and ) DOES 1-200, inclusive, ) ) Defendants. ) ______________________________________) WHEREAS, plaintiff On-Point Technology Systems, Inc. ("On-Point") filed the instant action on or about September 24, 1999, alleging causes of action against defendants U.S. Telecard, Inc. ("Telecard") and Rick Arrington ("Arrington") for declaratory relief, breach of written contract, breach of the implied covenant of good faith and fair dealing, account stated and common count, among others; WHEREAS, On-Point, Telecard and Arrington desire to enter into a Stipulated Judgment with respect to claims at issue in the instant action; IT IS HEREBY STIPULATED by and between the parties that: 1. Judgment is awarded in favor of On-Point and against Telecard on all causes of action, and On-Point is to recover damages from Telecard in the amount of eight hundred thousand dollars ($800,000.00); 1 --------------------------------------------------------------------------- STIPULATION TO RESPOND TO COMPLAINT
EX-10.322nd Page of 3TOC1stPreviousNextBottomJust 2nd
2. Telecard shall satisfy said Judgment by paying On-Point six thousand dollars ($6,000.00) per month, for 60 consecutive months, beginning April 10, 2000 and becoming due on the tenth day of each successive month thereafter until March 10, 2004, and by paying On-Point an additional five hundred thousand dollars ($500,000.00) on or before April 10, 2004. The above payments shall be made by check or draft payable to On-Point, on or before the dates set forth herein, and delivered to On-Point's place of business located at 1370 W. San Marcos Blvd., Suite 100, San Marcos, CA 92069, Attn: Frederick Sandvick. In the event that Telecard fails to make timely payment to On-Point pursuant to this paragraph, the entire Judgment amount shall become due and payable immediately to On-Point. 3. On-Point shall dismiss all claims against Arrington without prejudice. 4. Telecard and Arrington shall waive all applicable statutes of limitations in connection with the claims alleged by On-Point for a period of six years from the date of entry of this Judgment. DATED: November 12, 1999 ON-POINT TECHNOLOGY SYSTEMS, INC. By: /s/ Frederick Sandvick --------------------------------------- Frederick Sandvick Chief Executive Officer DATED: November 12, 1999 U.S. TELECARD, INC. By: /s/ Rick Arrington --------------------------------------- Rick Arrington Chief Executive Officer DATED: November 12, 1999 By: /s/ Rick Arrington --------------------------------------- RICK ARRINGTON 2 --------------------------------------------------------------------------- STIPULATION TO RESPOND TO COMPLAINT
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DATED: November 15, 1999 GORDON & REES, LLP By: /s/ Miles D. Scully --------------------------------------- MILES D. SCULLY KEVIN W. ALEXANDER Attorneys for Plaintiff ON-POINT TECHNOLOGY SYSTEMS, INC DATED: November ___, 1999 By: /s/ Alan B. Waln --------------------------------------- ALAN B. WALN Attorney for Defendants U.S. TELECARD, INC. and RICK ARRINGTON IT IS HEREBY ADJUDGED, ORDERED AND DECREED that plaintiff On-Point is entitled to JUDGMENT against Telecard, and that damages are awarded in favor of On-Point and against Telecard, pursuant to the stipulation herein. DATED: December 15, 1999 J. Richard Haden ----------------- --------------------------------------- JUDGE OF THE SUPERIOR COURT 3 --------------------------------------------------------------------------- STIPULATION TO RESPOND TO COMPLAINT

Dates Referenced Herein   and   Documents Incorporated by Reference

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Filed on:6/2/00
For Period End:12/31/99
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Filing Submission 0000950123-00-005556   –   Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)

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