Filed by Bowne Pure Compliance










Exhibit 10.1




Employment Agreement




This Employment Agreement (“Agreement”) is made and entered into this 1st day of November 2008,
(the “Effective Date”) by and between Biogold Fuels Corporation, a Nevada corporation and its subsidiaries (the
“Company”) and Ron Moss (“Executive”).



WHEREAS, Executive has the experience to provide services to the Company of an extraordinary character which
gives such services a unique value; and



WHEREAS, The Company desires to retain the services of Executive, and Executive desires to be employed by the
Company for the term of this Agreement;



NOW, THEREFORE, in consideration of the premises and of the mutual benefits and covenants contained herein, the
parties hereto, intending to be bound, hereby agree as follows:



1. Employment. The Company hereby employs Executive as General Counsel, Secretary and interim Chief
Financial Officer of the Company. For the term of Executive’s employment, and upon the other conditions set forth
in this Agreement, Executive accepts such employment and agrees to perform services for the Company, subject always
to such resolutions as are established from time to time by the Board of Directors of the Company.



2. Term. The term of this Agreement shall commence on the date hereof (the “Commencement Date”) and
continue for a period of three years (the “Term”). At the end of such initial Term, this Agreement shall be
extended automatically for successive three (3) year Terms of employment, unless either the Company or the
Executive notifies the other party in writing at least one hundred and eighty (180) days prior to the end of the
incumbent Term of any intention not to renew this Agreement, in which case this Agreement will terminate at the end
of such incumbent Term. All references herein to the “Term” shall refer to both such initial Term and any such
successive Terms. The date upon which the Term of this Agreement expires shall be referred to herein as the
“Expiration Date.”



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3. Position and Duties.



3.1. Services with the Company. During the term of this Agreement, Executive agrees to perform such
duties and exercise such powers related thereto as may from time to time be assigned to him by the Company’s Chief
Executive Officer, President or Board of Directors. Executive shall duly and diligently perform all duties
assigned to him while in the employ of the Company. He shall be bound by and faithfully observe and abide by all
rules and regulations of the Company which are brought to his notice or of which he should be reasonably aware.



3.2. No Conflicting Duties. During Executive’s employment, Executive shall devote substantially all
his business efforts and time to the Company.  Except upon the prior written consent of the Company, Executive will
not, during the term of this Agreement, (i) accept any other employment, or (ii) engage, directly or indirectly, in
any other business activity (whether or not pursued for pecuniary advantage) that might interfere with Executive’s
duties and responsibilities hereunder or create a conflict of interest with the Company.  In addition, the
Executive will not serve on the board of directors of any company other than Biogold Fuels Corporation without the
consent of the majority of other board members of Biogold Fuels Corporation.  Notwithstanding the foregoing,
Executive may serve on corporate, civic or charitable boards or committees, deliver lectures, fulfill speaking
engagements, teach at educational institutions, or manage personal investments without such advance written
consent, provided that such activities do not individually or in the aggregate interfere with the performance of
Executive’s duties under this Agreement.



3.3. Uniqueness of Executive’s Services. Executive hereby represents and agrees that the services to
be performed under the terms of this Agreement are of a special, unique, unusual, extraordinary, and intellectual
character that gives them a unique value. Executive recognizes the uniqueness of the services he provides to the
Company and realizes the Company may elect to purchase a life insurance policy to protect against Executive’s death
for the benefit of the Company. In such event, Executive shall reasonably cooperate and take all steps necessary
to assist Company in acquiring such policy or policies.



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4. Compensation.



4.1 Base Salary. As compensation for all services to be rendered by Executive under this Agreement,
the Company shall pay according to its normal payroll procedures and policies to Executive a base annual salary of
One Hundred and Fifty Thousand Dollars ($150,000) (“Base Salary”). In addition, upon execution of this Agreement,
Executive shall receive 1,000,000 shares of the common stock of the Company (“Shares”), with 500,000 to be given to
Executive upon execution of this Agreement, an additional 250,000 Shares to be given to Executive upon the six (6)
month anniversary of this Agreement and an additional 250,000 Shares to be given to Executive upon the one (1) year
anniversary of this Agreement.



Executive’s Base Salary shall be reviewed at least annually; however, the Company shall not reduce the
Executive’s Base Salary at any time during this Agreement.



4.2 Options. In addition to the annual base salary set forth in Section 4.1 above, the Board may, in
its sole discretion, award Executive bonus compensation in the form of stock options or stock awards under the
Company’s then current employee stock option plan at intervals throughout the term of this Agreement and any
renewal terms.



4.3. Cash Incentive Bonus. In the sole discretion of the Board of Directors, the Company may pay
Executive an annual cash bonus (“Cash Bonus”). The Board of Directors shall set the Cash Bonus in a fair and
reasonable manner. Said Cash Bonus may be equal to up to seventy percent (70%) of Executive’s Base Salary.



4.4 Expenses. The Company shall reimburse Executive for all reasonable pre-approved business or
travel expenses and office related expenses incurred by Executive in the performance of his duties; including but
not limited to: airfare, motor vehicle rental, lodging, meals, telephone, copy costs, and supplies.



4.5 Mobile Telephone. The Company will provide Executive with the exclusive use of a mobile (cellular
and/or digital) telephone. Such use shall be reasonable in nature and will be predominately for business purposes.



4.6 Stock and Option Registration Rights. In the event the Company conducts a public offering of the
Company’s shares, the Company shall provide Executive with registration rights to all shares, warrants and options
which Executive then holds or otherwise directly or constructively owns.



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5. Vacation, Sick Leave and Insurance



5.1 Annual Vacation. Executive shall be entitled to fifteen (15) days vacation time each year without
loss of compensation. In the event that Executive is unable for any reason to take the total amount of vacation
time authorized herein during any year, any unused vacation time shall carry over from year to year. Vacation days
will accrue at the rate of one and one quarter (1.25) days per each month of service rendered, which accrual shall
start effective January 1, 2009. Any earned but unused vacation time will be paid to Executive based upon his
annual rate of all compensation paid in the previous twelve months (12) upon termination or expiration of this
Agreement.



5.2. Sick Leave. Executive shall be entitled to twelve (12) days sick leave each year without loss
of compensation. In the event that Executive is unable for any reason to take the total amount of vacation time
authorized herein during any year, any unused vacation time shall carry over from year to year. Sick leave days
will accrue at the rate of one (1) day per each month of service rendered. Any earned but unused sick leave will
be paid to Executive based upon his annual rate of all compensation paid in the previous twelve months upon
termination or expiration of this Agreement.



5.3. Health Insurance. The Company shall provide Executive and his immediate family members with
comprehensive PPO or POS health insurance benefits which shall cover medical, dental and vision.



6. Compensation Upon the Termination of Executive’s Employment.



6.1 Compensation Upon Termination Not For Cause or for Good Reason. If, during the term of this Agreement,
the Company terminates Executive’s Employment for any reason other than Cause, death or Permanent Disability, then,
in addition to the amounts payable in accordance with Section 5(b), the Company shall pay Executive severance pay
at a rate equal to your Base Salary in effect at the time of termination for a period of 12 months following the
termination of Employment (the “Continuation Period”), provided that Executive’s termination as interim Chief
Financial Officer only shall not trigger this provision.  Such severance pay shall be paid in accordance with the
Company’s standard payroll procedures on the Company’s payroll dates and shall be subject to all applicable
withholdings; provided that, if the Company’s stock becomes is publicly traded on an established securities market
at the time of termination, such severance pay shall be paid in a single lump-sum cash payment on the 12 month
anniversary of the employment termination date to the extent required by Code section 409A.



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Any other provision of this Agreement notwithstanding, subsection 6.1 shall not apply unless and until (i)
Executive has executed (and does not revoke) a full and complete general release of all claims in a form provided
by the Company without alteration and (ii) Executive has returned all Company property.



The benefits provided for in this provision are exclusive of any other rights or remedies which Executive
would possess in the event the Company terminates the Agreement without cause. The Company agrees that in the
event it terminates Executive=s employment without cause, Executive retains all rights and remedies available under
the law, and the Company will not urge or otherwise argue or assert in any legal, including judicial or
arbitration, proceeding that any provision of this Agreement as constitutes a waiver of rights by Executive.



6.2 Compensation Upon Termination Upon Death. In the event that Executive’s employment is terminated pursuant
to section 10.2, Executive’s beneficiary or beneficiary designated by Executive in writing to the Company, or in
the absence of such beneficiary, Executive’s estate, shall be entitled to receive Executive’s then current Base
Salary through three hundred and sixty-five (365) days after the date of his death.



6.3 Compensation Upon Termination Upon Disability. In the event that Executive’s employment is terminated
pursuant to section 10.1, Executive shall be entitled to receive Executive’s then current Base Salary through three
hundred sixty five (365) days after the date of his disability.



6.4. Change of Control. If there is a Change of Control (as defined below), and subsequent thereto the
Executive’s employment with the Company terminates at any time within three (3) years after such Change of Control
for reasons other than as provided in Section 7(b)(i), then the Executive shall be paid pursuant to this Agreement
an amount equal to three (3) years’ salary at the Executive’s then current compensation (pursuant to Section 3(a))
at the date of termination. A Change of Control shall be deemed to have occurred at such time as any person, other
than the Company, its existing shareholders or any of its or their affiliates on the date hereof, purchases the
“beneficial ownership” (as defined in Rule 13d-3 under the Securities Exchange Act of 1934), directly or
indirectly, of 50% or more of the combined voting power of voting securities then ordinarily having the right to
vote for directors of the Company.



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7. Proprietary Matter. Except as permitted or directed by the Company, Executive shall not during the
term of his employment or at any time thereafter divulge, furnish, disclose, or make accessible (other than in the
ordinary course of the business of the Company) to anyone for use in any way any confidential, secret, or
proprietary knowledge or information of the Company (“Proprietary Matter”) which Executive has acquired or become
acquainted with or will acquire or become acquainted with, whether developed by himself or by others, including,
but not limited to, any trade secrets, confidential or secret designs, processes, formulae, software or computer
programs, plans, devices or material (whether or not patented or patentable, copyrighted or copyrightable) directly
or indirectly useful in any aspect of the business of the Company, any confidential customer, distributor or
supplier lists of the Company, any confidential or secret development or research work of the Company, or any other
confidential, secret or non-public aspects of the business of the Company. Executive acknowledges that the
Proprietary Matter constitutes a unique and valuable asset of the Company acquired at great time and expense by the
Company, and that any disclosure or other use of the Proprietary Matter other than for the sole benefit of the
Company would be wrongful and would cause irreparable harm to the Company. Both during and after the term of this
Agreement, Executive will refrain from any acts or omissions that would reduce the value of Proprietary Matter to
the Company. The foregoing obligations of confidentiality, however, shall not apply to any knowledge or
information which is now published or which subsequently becomes generally publicly known, other than as a direct
or indirect result of the breach of this Agreement by Executive.



8. Ventures. If, during the term of this Agreement, Executive is engaged in or associated with the
planning or implementing of any project, program, or venture involving the Company and a third party or parties,
all rights in the project, program, or venture shall belong to the Company and shall constitute a corporate
opportunity belonging exclusively to the Company. Except as expressly approved in writing by the Company,
Executive shall not be entitled to any interest in such project, program, or venture or to any commission, finder’s
fee or other compensation in connection therewith, other than the compensation to be paid to Executive as provided
in this Agreement.



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9. Solicitation of Employees.



9.1. Agreement Not to Solicit Employees. During his employment by the Company hereunder and for the
one (1) year period following the termination of such employment for any reason, Executive shall not, either
directly or indirectly, on his own behalf or in the service or on behalf of others solicit, divert or hire away, or
attempt to solicit, divert or hire away any employees, consultants, and customers of the Company.



10. Termination Prior to Expiration of the Term.



10.1 Disability. Executive’s employment shall terminate upon Executive becoming totally or
permanently disabled for a period of six (6) months or more. For purposes of this Agreement, the term “totally or
permanently disabled” or “total or permanent disability” means Executive’s inability on account of sickness or
accident, whether or not job related, to engage in regularly or to perform adequately his assigned duties under
this Agreement. Prior to terminating the Agreement pursuant to this provision, the Company shall engage and
consult one or more physicians as may be reasonable.



10.2 Death of Executive. Executive’s employment shall terminate immediately upon the death of
Executive.



10.3 Termination for Cause. The Company may terminate Executive’s employment for “Cause” (as
hereinafter defined). No termination for “Cause” may be invoked by Company without first providing Executive with
at least thirty (30) days written notice to correct any breach, default or causation. Such written notice shall set
forth with reasonable specificity the Company’s basis for such notice of termination and Executive shall have
thirty (30) days to correct the condition set forth in the notice.



10.3.1. Cause Defined. For all purposes of this agreement, “Cause” shall mean:



(i) the commission, conviction of, or a plea of “guilty” or “no contest” to, a felony under the
laws of the United States or any state by Executive;



(ii) Executive’s failure to perform his duties and responsibilities to the Company;



(iii) Executive’s commission of any act of fraud, embezzlement, dishonesty, misrepresentation,
misappropriation or any other willful misconduct that has caused or is reasonably expected to
result in injury to the Company (or a successor, if appropriate);



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(iv) Executive’s unauthorized use or disclosure of any proprietary information or trade secrets
of the Company (or a successor, if appropriate) or any other party to whom Founder owes an
obligation of nondisclosure as a result of Founder’s relationship with the Company (or a
successor, if appropriate);



(v) Executive’s breach of a fiduciary duty owed to the Company;



(vi) Executive’s breach of his duty not to engage in any transaction that represents, directly or
indirectly, self-dealing with the Company which has not been approved by a majority of the
disinterested directors of the Company’s Board of Directors, if such material breach remains
uncured after the lapse of 30 days following the date that the Company has given the Executive
written notice thereof;



(vii) Executive’s violation of any Company policy pertaining to ethics, wrongdoing or conflicts
of interest which would include that Executive cannot provide services to any other entity, other
than as approved by the Company’s Board of Directors, provided that Executive shall have the
right to become an outside advisor to other companies where such a role does not conflict with
Executive’s obligations to the Company;



(viii) Executive’s death or disability; or



(ix) Any other gross or willful misconduct by Executive.



10.5 Voluntary Termination of Employment By Executive For Other than Good Reason. Executive may
voluntarily terminate his employment with the Company upon 30 days prior written notice for other than Good Reason.
Executive shall not be entitled to any further payments of compensation beyond Executive’s resignation date if
Executive voluntarily resigns under this Section 10.5.



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10.6. Surrender of Records and Property. Upon termination of his employment with the Company,
Executive shall deliver promptly to the Company all records, electronic media, manuals, books, blank forms,
documents, letters, memoranda, notes, notebooks, reports, data, tables, and calculations or copies thereof, which
are the property of the Company and which relate in any way to the business, products, practices or techniques of
the Company, and all other property (keys, office equipment, computers, mobile phones, credit cards, etc.) of the
Company and Proprietary Matter, including but not limited to, all documents which in whole or in part contain any
trade secrets or confidential information of the Company, which in any of these cases are in his possession or
under his control.



11. Assignment/Successors. This Agreement shall not be assignable, in whole or in part, by either
party without the written consent of the other party except that Company may, without the consent of Executive,
assign its rights and obligations under this Agreement to any corporation, firm or other business entity (i) with
or into which the Company may merge or consolidate, or (ii) to which the Company may sell or transfer all or
substantially all of its assets or of which fifty percent (50%) or more of the equity investment and of the voting
control is owned, directly or indirectly, by, or is under common ownership with, the Company. After any such
assignment by the Company and such written agreement by the assignee, the Company shall be discharged from all
further liability hereunder and such assignee shall thereafter be deemed to be the Company for the purposes of all
provisions of this Agreement including this section.



This Agreement shall be binding upon, and inure to the benefit of, both parties and their respective
successors and assigns, including any corporation or other entity with which, or into which, the Company may be
merged or which may succeed to its assets or business, provided, however, that the obligations of Executive are
personal and shall not be assigned by Executive.



12. Indemnification. The company shall indemnify Executive as provided in the California Corporations
Code, Company Articles or Company’s Bylaws in effect at the commencement of this Agreement. The scope of
indemnification to which Executive is entitled shall not be diminished, but may be expanded by the Company, by
amendment of the Company’s Bylaws, Articles of Incorporation or otherwise. Executive shall indemnify and hold the
Company harmless from all liability for loss, damages or injury resulting from the negligence or misconduct of
Executive. The Parties are concurrently entering into a separate indemnification agreement to provide
indemnification for the Executive, attached hereto at Exhibit A (the “Indemnification Agreement”).



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13. Miscellaneous.



13.1 Governing Law. All questions concerning the construction, validity, enforcement and
interpretation of this Agreement shall be governed by the internal laws of the State of New York, without giving
effect to any choice of law or conflict of law provision or rule (whether of the State of New York or any other
jurisdictions) that would cause the application of the laws of any jurisdictions other than the State of New York.
 Each party hereby irrevocably submits to the exclusive jurisdiction of the state and federal courts sitting in The
City of New York, Borough of Manhattan, for the adjudication of any dispute hereunder or in connection herewith or
with any transaction contemplated hereby or discussed herein, and hereby irrevocably waives, and agrees not to
assert in any suit, action or proceeding, any claim that it is not personally subject to the jurisdiction of any
such court, that such suit, action or proceeding is brought in an inconvenient forum or that the venue of such
suit, action or proceeding is improper.  Each party hereby irrevocably waives personal service of process and
consents to process being served in any such suit, action or proceeding by mailing a copy thereof to such party at
the address for such notices to it under this Agreement and agrees that such service shall constitute good and
sufficient service of process and notice thereof.  Nothing contained herein shall be deemed to limit in any way any
right to serve process in any manner permitted by law. EACH PARTY HEREBY IRREVOCABLY WAIVES ANY RIGHT IT MAY HAVE,
AND AGREES NOT TO REQUEST, A JURY TRIAL FOR THE ADJUDICATION OF ANY DISPUTE HEREUNDER OR IN CONNECTION WITH OR
ARISING OUT OF THIS AGREEMENT OR ANY TRANSACTION CONTEMPLATED HEREBY.



13.2 Entire Agreement. This Agreement contains the entire agreement of the parties relating to the
subject matter hereof and supersedes all prior agreements and understandings with respect to such subject matter
with the exception of the Indemnification Agreement which is incorporated by reference, and the parties hereto have
made no agreements, representations or warranties relating to the subject matter of this Agreement which are not
set forth herein.



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13.3 Withholding Taxes. The Company may withhold from any benefits payable under this Agreement all
federal, state, city or other taxes as shall be required pursuant to any law or governmental regulation or ruling.



13.4 Amendments. No amendment or modification of this Agreement shall be deemed effective unless made
in writing signed by the parties hereto.



13.5 No Wavier. No term or condition of this Agreement shall be deemed to have been waived nor shall
there be any estoppel to enforce any provisions of this Agreement, except by a statement in writing signed by the
party against whom enforcement of the waiver or estoppel is sought. Any written waiver shall not be deemed a
continuing waiver unless specifically stated, shall operate only as to the specific term or condition waived and
shall not constitute a waiver of such term or condition for the future or as to any act other than that
specifically waived.



13.6 Severability. To the extent any provision of this Agreement shall be invalid or unenforceable,
it shall be considered deleted here from and the remainder of such provision and of this Agreement shall be
unaffected and shall continue in full force and effect.



13.7 Survival. Sections 4.7, 7, 8, and 9 shall survive termination of this Agreement.



13.8 Notices. Any and all notices, requests or other communications required or permitted in or by
any provision of this Agreement shall be in writing and may be delivered personally or by certified mail directed
to the addressee at such person=s or entity=s last known post office address, and if given by certified mail, shall
be deemed to have been delivered when deposited in such, mail postage prepaid.



13.9 Legal Proceedings. In the event of legal proceedings, including arbitration as set forth in
Section 13.2 above, the prevailing party shall be entitled, in addition to such relief as is deemed to be
appropriate, to recover such costs and reasonable attorneys= fees as are incurred therein.



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13.10 Section 409A. Unless otherwise expressly provided, any payment of compensation by Company to
Executive, whether pursuant to this Agreement or otherwise, shall be made within two and one-half months (21/2
months) after the later of the end of the calendar year of the Company’s fiscal year in which Executive’s right to
such payment vests (i.e., is not subject to a “substantial risk of forfeiture” for purposes of Code Section 409A of
the Internal Revenue Code of 1986, as amended (“Code”)). To the extent that any severance payments (including
payments on termination for “good reason”) come within the definition of “involuntary severance” under Code Section
409A, such amounts up to the lesser of two times the Executive’s annual compensation for the year preceding the
year of termination or two times the 401(a)(17) limit for the year of termination, shall be excluded from “deferred
compensation” as allowed under Code Section 409A, and shall not be subject to the following Code Section
409A compliance requirements. All payments of “nonqualified deferred compensation” (within the meaning of Section
409A) are intended to comply with the requirements of Code Section 409A, and shall be interpreted in accordance
therewith. Neither party individually or in combination may accelerate any such deferred payment, except in
compliance with Code Section 409A, and no amount shall be paid prior to the earliest date on which it is permitted
to be paid under Code Section 409A. In the event that Executive is determined to be a “key employee” (as defined
in Code Section 416(i) (without regard to paragraph (5) thereof)) of Company at a time when its stock is deemed to
be publicly traded on an established securities market, payments determined to be “nonqualified deferred
compensation” payable following termination of employment shall be made no earlier than the earlier of (i) the last
day of the sixth (6th) complete calendar month following such termination of employment, or (ii) Executive’s death,
consistent with the provisions of Code Section 409A.  Any payment delayed by reason of the prior sentence shall be
paid out in a single lump sum at the end of such required delay period in order to catch up to the original payment
schedule.  Notwithstanding anything herein to the contrary, no amendment may be made to this Agreement if it would
cause the Agreement or any payment hereunder not to be in compliance with Code Section 409A.



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IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year first above written.



	 	 	 
	Biogold Fuels Corporation:

	 	Executive:
	 

By: /s/ Steve Racoosin

	 	 

/s/ Ron Moss
	 

	 	 
	Name: Steve Racoosin

Title: President

	 	Ron Moss






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Exhibit A

INDEMNIFICATION AGREEMENT




This Indemnification Agreement (this “Agreement”) is executed on and effective as of       (the
“Effective Date”), by and between BioGold Fuels Corporation, a Nevada corporation, and its direct and indirect
subsidiaries (the “Company”), and Ron Moss (“Indemnitee”).



Recitals:




The Company and Indemnitee recognize the difficulty in obtaining directors’ and officers’ liability insurance, the
increases in the cost of such insurance, and the general limitations in the coverage of such insurance.



The Company and Indemnitee further recognize the substantial increase in corporate litigation in general,
subjecting officers and directors to expensive litigation risks at the same time as the availability and coverage of
liability insurance has been severely limited.



Indemnitee does not regard the current protection available as adequate under the present circumstances, and
Indemnitee and other officers and directors of the Company may not be willing to serve or continue to serve as officers
and directors without additional protection.



The Company desires to attract and retain the services of highly qualified individuals, such as Indemnitee, to
serve as officers and directors of the Company and to indemnify its officers and directors so as to provide them with
the maximum protection permitted by law.



NOW, THEREFORE, in consideration of the foregoing recitals and the mutual promises set forth in this Agreement,
the parties to this Agreement agree as follows:



Section 1. Indemnification.



1.1 Third Party Proceedings. The Company shall indemnify Indemnitee and any partnership, corporation,
trust, or other entity of which Indemnitee is or was a partner, stockholder, trustee, director, officer, employee, or
agent (each such partnership, corporation, trust, or other entity also being referred to as an “Indemnitee”) if
Indemnitee is or was a party or is threatened to be made a party to any threatened, pending, or completed action, suit
or proceeding, whether civil, criminal, administrative, or investigative (other than an action by or in the right of
the Company) by reason of the fact that Indemnitee is or was a director, officer, employee, or agent of the Company, or
any subsidiary of the Company, by reason of any action or inaction on the part of Indemnitee while an officer or
director or by reason of the fact that Indemnitee is or was serving at the request of the Company as a director,
officer, employee, or agent of another corporation, partnership, joint venture, trust, or other enterprise, against
expenses (including attorneys’ fees), judgments, fines, and amounts paid in settlement (if such settlement is approved
in advance by the Company, which approval shall not be unreasonably withheld) actually and reasonably incurred by
Indemnitee in connection with such action, suit, or proceeding, if Indemnitee acted in good faith and in a manner
Indemnitee reasonably believed to be in or not opposed to the best interests of the Company, and, with respect to any
criminal action or proceeding, had no reasonable cause to believe Indemnitee’s conduct was unlawful. The termination
of any action, suit, or proceeding by judgment, order, settlement, conviction, or upon a plea of nolo contendere or its
equivalent, shall not, of itself, create a presumption that Indemnitee did not act in good faith and in a manner that
Indemnitee reasonably believed to be in or not opposed to the best interests of the Company, and, with respect to any
criminal action or proceeding, had reasonable cause to believe that Indemnitee’s conduct was unlawful.



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1.2 Proceedings By or in the Right of the Company. The Company shall indemnify Indemnitee if Indemnitee
was or is a party or is threatened to be made a party to any threatened, pending, or completed action or suit by or in
the right of the Company or any subsidiary of the Company to procure a judgment in its favor by reason of the fact that
Indemnitee is or was a director, officer, employee, or agent of the Company, or any subsidiary of the Company, by
reason of any action or inaction on the part of Indemnitee while an officer or director or by reason of the fact that
Indemnitee is or was serving at the request of the Company as a director, officer, employee, or agent of another
corporation, partnership, joint venture, trust, or other enterprise, against expenses (including attorneys’ fees) and,
to the fullest extent permitted by law, amounts paid in settlement, in each case to the extent actually and reasonably
incurred by Indemnitee in connection with the defense or settlement of such action or suit, if Indemnitee acted in good
faith and in a manner Indemnitee reasonably believed to be in or not opposed to the best interests of the Company.



1.3 Mandatory Payment of Expenses. To the extent that Indemnitee has been successful on the merits or
otherwise in defense of any action, suit, or proceeding referred to in Sections 1.1 and 1.2 or the
defense of any claim, issue, or matter in Section 1.1 or 1.2, Indemnitee shall be indemnified against
expenses (including attorneys’ fees) actually and reasonably incurred by Indemnitee in connection with such defense.



Section 2. Expenses: Indemnification Procedure.



2.1 Advancement of Expenses. The Company shall advance all expenses incurred by Indemnitee, and, to the
fullest extent permitted by law, amounts paid in settlement by Indemnitee, in connection with the investigation,
defense, settlement, or appeal of any civil or criminal action, suit, or proceeding referenced in Section 1.1
or 1.2 of this Agreement. Indemnitee hereby undertakes to repay such amounts advanced only if, and to the
extent that, it shall ultimately be determined in a non-appealable, final judgment that Indemnitee is not entitled to
be indemnified by the Company as authorized by this Agreement. The advances to be made under this Agreement shall be
paid by the Company to Indemnitee within 20 days following delivery of a written request for such advance by Indemnitee
to the Company.



2.2 Notice/Cooperation by Indemnitee. Indemnitee shall, as a condition precedent to his or its right to
be indemnified under this Agreement, give the Company notice in writing as soon as practicable of any claim made
against Indemnitee for which indemnification shall or could be sought under this Agreement. Notice to the Company
shall be directed to the President of the Company at the address shown on the signature page of this Agreement, or such
other address as the Company shall designate in writing to Indemnitee. Notice shall be deemed received three business
days after the date postmarked if sent by domestic certified or registered mail, properly addressed; otherwise notice
shall be deemed received when such notice shall actually be received by the Company. In addition, Indemnitee shall
give the Company such information and cooperation as it may reasonably require and as shall be within Indemnitee’s
power.



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2.3 Procedure. Any indemnification and advances provided for in Section 1 and this Section
2 shall be made no later than 20 days after receipt of the written request of Indemnitee. If a claim under this
Agreement, under any statute, or under any provision of the Company’s Articles of Incorporation or Bylaws providing for
indemnification, is not paid in full by the Company within 20 days after a written request for payment of such claim
has first been received by the Company, Indemnitee may, but need not, at any time thereafter bring an action against
the Company to recover the unpaid amount of the claim and, subject to Section 12 of this Agreement, Indemnitee
shall also be entitled to be paid for the expenses (including attorneys’ fees) of bringing such action. It shall be a
defense to any such action (other than an action brought to enforce a claim for expenses incurred in connection with
any action, suit, or proceeding in advance of its final disposition) that Indemnitee has not met the standards of
conduct that make it permissible under applicable law for the Company to indemnify Indemnitee for the amount claimed,
but the burden of proving such defense shall be on the Company and Indemnitee shall be entitled to receive interim
payments of expenses pursuant to Section 2.1 unless and until such defense may be finally adjudicated by court
order or judgment from which no further right of appeal exists. It is the parties’ intention that if the Company
contests Indemnitee’s right to indemnification, the question of Indemnitee’s right to indemnification shall be for the
court to decide, and neither the failure of the Company (including its Board of Directors, any committee or subgroup of
the Board of Directors, independent legal counsel, or its stockholders) to have made a determination that
indemnification of Indemnitee is proper in the circumstances because Indemnitee has met the applicable standard of
conduct required by applicable law, nor an actual determination by the Company (including its Board of Directors, any
committee or subgroup of the Board of Directors, independent legal counsel, or its stockholders) that Indemnitee has
not met such applicable standard of conduct, shall create a presumption that Indemnitee has or has not met the
applicable standard of conduct.



2.4 Notice to Insurers. If, at the time of the receipt of a notice of a claim pursuant to Section
2.2 of this Agreement, the Company has directors’ and officers’ liability insurance in effect, the Company shall
give prompt notice of the commencement of such proceeding to the insurers in accordance with the procedures set forth
in the respective policies. The Company shall thereafter take all necessary or desirable action to cause such insurers
to pay, on behalf of the Indemnitee, all amounts payable as a result of such proceeding in accordance with the terms of
such policies.



2.5 Selection of Counsel. In the event the Company shall be obligated under Section 2.1 of this
Agreement to pay the expenses of any proceeding against Indemnitee, the Company, if appropriate, shall be entitled to
assume the defense of such proceeding, with counsel approved by Indemnitee (whose approval shall not be unreasonably
withheld), upon the delivery to Indemnitee of written notice of its election so to do. After delivery of such notice,
approval of such counsel by Indemnitee and the retention of such counsel by the Company, the Company shall continue to
be liable to Indemnitee under this Agreement for any fees of counsel subsequently incurred by Indemnitee with respect
to the same proceeding.



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Section 3. Additional Indemnification Rights; Nonexclusivity.



3.1 Scope. Notwithstanding any other provision of this Agreement, the Company hereby agrees to indemnify
the Indemnitee to the fullest extent permitted by law, notwithstanding that such indemnification is not specifically
authorized by the other provisions of this Agreement, the Company’s Articles of Incorporation, the Company’s Bylaws, or
by statute. In the event of any change, after the date of this Agreement, in any applicable law, statute, or rule that
expands the right of a Nevada corporation to indemnify a member of its board of directors or an officer, such changes
shall be, ipso facto, within the purview of Indemnitee’s rights and Company’s obligations under this Agreement. In the
event of any change in any applicable law, statute, or rule that narrows the right of a Nevada corporation to indemnify
a member of its board of directors or an officer, such changes, to the extent not otherwise required by such law,
statute, or rule to be applied to this Agreement, shall have no effect on this Agreement or the parties’ rights and
obligations under this agreement.



3.2 Nonexclusivity. The indemnification provided by this Agreement shall not be deemed exclusive of any
rights to which Indemnitee or any other Indemnitee may be entitled under the Company’s Articles of Incorporation, its
Bylaws, any agreement, any vote of stockholders or disinterested directors, the Revised Statues of the State of Nevada,
or otherwise, both as to action in Indemnitee’s official capacity and as to action in another capacity while holding
such office. The indemnification provided under this Agreement shall continue as to Indemnitee and each other
Indemnitee for any action taken or not taken while Indemnitee is or was serving in an indemnified capacity even though
he may have ceased to serve in such capacity at the time of any action, suit, or other covered proceeding.



Section 4. Partial Indemnification. If Indemnitee is entitled under any provision of this Agreement to
indemnification by the Company for some or a portion of the expenses, judgments, fines, or penalties actually or
reasonably incurred by Indemnitee in the investigation, defense, appeal, or settlement of any civil or criminal action,
suit, or proceeding, but not, however, for the total amount of any such expenses, judgments, fines, or penalties, the
Company shall nevertheless indemnify Indemnitee for the portion of such expenses, judgments, fines, or penalties to
which Indemnitee is entitled.



Section 5. Directors and Officers Liability Insurance Extended Reporting Endorsement. For the period
beginning on the date of this Agreement and continuing for at least five years thereafter, Company acknowledges and
agrees to purchase at Company’s expense an extended reporting endorsement, or a “tail,” for each claims-made insurance
policy now in effect at the Company or its wholly-owned subsidiary, Full Circle Industries, Inc., to provide continued
coverage for any event or omission which may have occurred during the policy period which could give rise to coverage
under such policy. Company shall name Indemnitee as an additional insured with respect to each such extended reporting
endorsement.



Section 6. Severability. The provisions of this Agreement shall be severable as provided in this
Section 6. If this Agreement or any portion of this Agreement shall be invalidated on any ground by any court
of competent jurisdiction, then the Company shall nevertheless indemnify Indemnitee and each other Indemnitee to the
full extent permitted by any applicable portion of this Agreement that shall not have been invalidated, and the balance
of this Agreement not so invalidated shall be enforceable in accordance with its terms.



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Section 7. Exceptions. Any other provision in this Agreement to the contrary notwithstanding, the Company
shall not be obligated pursuant to the terms of this Agreement:



7.1 Claims Initiated by Indemnitee. To indemnify or advance expenses to Indemnitee with respect to
proceedings or claims initiated or brought voluntarily by Indemnitee and not by way of defense, except with respect to
proceedings brought to establish or enforce a right to indemnification under this Agreement or any other statute or law
or otherwise as required under the Revised Statues of the State of Nevada, but such indemnification or advancement of
expenses may be provided by the Company in specific cases if the Board of Indemnitees finds it to be appropriate;



7.2 Insured Claims. To indemnify Indemnitee for expenses or liabilities of any type whatsoever
(including, but not limited to, judgments, fines, ERISA, excise taxes or penalties, and amounts paid in settlement)
that have been paid directly to Indemnitee by an insurance carrier under a policy of officers’ and directors’ liability
insurance maintained by the Company; or



Section 8. Construction Of Certain Phrases.



8.1 For purposes of this Agreement, references to the “Company” shall include, in addition to the resulting
corporation, any constituent corporation (including any constituent of a constituent) absorbed in a consolidation or
merger, so that if Indemnitee is or was a director, officer, employee, or agent of such constituent corporation, or is
or was serving at the request of such constituent corporation as a director, officer, employee, or agent of another
corporation, partnership, joint venture, trust, or other enterprise, Indemnitee shall stand in the same position under
the provisions of this Agreement with respect to the resulting or surviving corporation as Indemnitee would have with
respect to such constituent corporation if its separate existence had continued.



8.2 For purposes of this Agreement, references to “other enterprises” shall include employee benefit plans;
references to “fines” shall include any excise taxes assessed on Indemnitee with respect to an employee benefit plan;
and references to “serving at the request of the Company” shall include any service as a director, officer, employee,
or agent of the Company that imposes duties on, or involves services by, such director, officer, employee, or agent
with respect to an employee benefit plan, its participants, or beneficiaries; and if Indemnitee acted in good faith and
in a manner Indemnitee reasonably believed to be in the interest of the participants and beneficiaries of an employee
benefit plan, Indemnitee shall be deemed to have acted in a manner “not opposed to the best interests of the Company”
as referred to in this Agreement.



Section 9. Counterparts. This Agreement may be executed in one or more counterparts, each of which shall
constitute an original.



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Section 10. Successors And Assigns. This Agreement shall be binding upon the Company and its successors
and assigns, and shall inure to the benefit of Indemnitee and each other Indemnitee and their respective estates,
heirs, successors, legal representatives, and assigns.



Section 11. Attorneys’ Fees. In the event that any action is instituted by Indemnitee under this
Agreement to enforce or interpret any of the terms of this Agreement, Indemnitee shall be entitled to be paid all court
costs and expenses, including reasonable attorneys’ fees, incurred by Indemnitee with respect to such action, unless as
a part of such action, the court of competent jurisdiction determines that each of the material assertions made by
Indemnitee as a basis for such action was not made in good faith or was frivolous. In the event of an action
instituted by or in the name of the Company under this Agreement or to enforce or interpret any of the terms of this
Agreement, Indemnitee shall be entitled to be paid all court costs and expenses, including attorneys’ fees, incurred by
Indemnitee in defense of such action (including with respect to Indemnitee’s counterclaims and cross-claims made in
such action), unless as a part of such action the court determines that each of Indemnitee’s material defenses to such
action was made in bad faith or was frivolous.



Section 12. Notice. All notices, requests, demands, and other communications under this Agreement shall
be in writing and shall be deemed duly given on the third business day after the date postmarked, if delivered by
domestic certified or registered mail with postage prepaid, or, if delivered by other means, on the date actual notice
is received. Addresses for notice to either party are as shown on the signature page of this Agreement, or as
subsequently modified by written notice.



Section 13. Consent To Jurisdiction. The Company and Indemnitee each hereby irrevocably consent to the
non-exclusive jurisdiction of the courts of the State of Nevada for all purposes in connection with any action or
proceeding that arises out of or relates to this Agreement and agree that any action instituted under this Agreement
may be brought in any court of competent jurisdiction in the State of Nevada.



Section 14. Choice Of Law. THIS AGREEMENT SHALL BE GOVERNED BY AND ITS PROVISIONS CONSTRUED IN ACCORDANCE
WITH THE LAWS OF THE STATE OF NEVADA, AS APPLIED TO CONTRACTS BETWEEN NEVADA RESIDENTS ENTERED INTO AND TO BE PERFORMED
ENTIRELY WITHIN NEVADA.



[Signature Pages Follow]








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IN WITNESS WHEREOF, the parties to this Agreement have executed this Agreement as of the date first written above.



COMPANY:



Biogold Fuels Corporation



By: /s/ Steve Racoosin                    

Name: : Steve Racoosin                   

Title: President




INDEMNITEE: Ron Moss



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