Document:

Crude Oil Sales Contract

 Exhibit 10.1 
  

					
	 CONTRACT
	  	:	  	CONTRACT OF SALE OF HARKEN CRUDE
	 VALUE
	  	:	  	UNDETERMINED.
	 TOTAL TERM
	  	:	  	1 MAY 2005 TO APRIL 30, 2006

  
 The following contracting parties: On
the one hand, PETROBRAS COLOMBIA LIMITED, a corporation incorporated under the laws of the U.K. with a branch office duly constituted in Colombia and represented in this act by JOSE RAIMUNDO BRANDAO PEREIRA, of legal age, and alien I.D. No.
307.839 issued in Bogotá in his capacity as General Manager, hereinafter referred to as THE BUYER, and on the other hand, HARKEN DE COLOMBIA LTD, a corporation incorporated under the laws of the Cayman Islands, with a branch
office established in Colombia in accordance with Public Deed No. 406 dated 19 February 1993, issued by the Eleventh Notary Public of the Bogotá Circle, whose main business address is in Bogotá D.C., hereinafter referred to for all
purposes as THE SELLER, represented by GUILLERMO SÁNCHEZ B., as certified in the Certificate of Existence and Legal Representation of the Bogotá Chamber of Commerce, of legal age, resident in the city of Bogotá,
identified with U.S. Passport No 132457597, have agreed to execute this contract of oil purchase/sale subject to the following clauses: 
  
 WHEREAS: 
  

	a)	On 29 December 2003, ECOPETROL S.A. and THE SELLER entered into the Alcaraván Association Contract. 

  

	b)	THE SELLER maintains in production under the Alcaraván Association Contract the Estero and Cajaro wells located in the Paloblanco Field and the Canacabare well,
located in the Anteojos field, in the municipalities of Maní and Orocué, province of Casanare. 

  

	c)	On 14 September 2004, the AGENCIA NACIONAL DE HIDROCARBUROS and THE SELLER entered into the Rio Verde exploration and explication contract. 

 

	d)	THE SELLER maintains in production under the Rio Verde Field Contract the Macarenas and Tilodiran wells. The Paloblanco, Anteojos and Rio Verde Fields shall hereinafter be
referred to as The Fields. 

  

	e)	That THE SELLER maintains in production the Olivo well within the Bolivar Association Contract and the Catalino-Olivo Field. Palo Blanco, Anteojos and Rio Verde shall
hereinafter be referred to as the “Fields”. 

  

	f)	That THE SELLER maintains in production the Torcaz 2 and Torca 3 wells within the Bocachico Association Contract and the Torcaz Field. Palo Blanco, Anteojos, Rio Verde,
Catalina-Olivo and Torcaz fields shall hereinafter be referred to as the “Fields”. 

	

 CONTRACT VRP – 005 – 2004        Page 2 of
7 
  

	g)	In performance of such contracts, 100% of their production belongs to THE SELLER, after discounting the nation’s royalties, excluding production from the Cajaro well in
the Alcaravan Association Contract, whose Commerciality was declared and, consequently, 50% of the production, discounting the nation’s royalties, belongs to ECOPETROL.  

  

	h)	By means of communication UN-COL/GEAL 0052/2005, THE SELLER presented a proposal to THE BUYER for the purchase of Oil from the aforementioned fields owned by THE
BUYER. 

  

	i)	THE SELLER by means of communication GG-095-05 accepted the above-mentioned offer in the conditions indicated in such letter. 

  

	j)	THE BUYER and THE SELLER hereby agree on the sale of the oil owned by THE SELLER produced in the Fields. 

  
 Based on the above, THE BUYER and THE SELLER 
  
 AGREE: 
  
 CLAUSE ONE.—PURPOSE AND QUANTITIES: THE SELLER is hereby bound to sell and deliver to THE BUYER and THE
BUYER is bound to receive and pay for, in the conditions provided herein, the oil corresponding to the Fields, corresponding to the share it owns, as follows: 
  
 Alcaravan Association Contract, Sole Risk Modality: 

	 	-	Production equivalent to 100% after royalties. 

 Alcaravan Association
Contract, Cajaro Commercial Area: 

	 	-	Production equivalent to 50% after royalties 

 Rio Verde Exploration and
Exploitation Association Contract: 

	 	-	Production equivalent to 100% after royalties. 

 Bolívar Association
Contract, Sole Risk Modality: 

	 	-	Production equivalent to 100% after royalties. 

 Bocachico Association
Contract, Sole Risk Modality: 

	 	-	Production equivalent to 100% after royalties. 

  
 PARAGRAPH 1: The volumes of oil purchased shall be those included in each shipment of Vasconia blend, made by Petrobras, as per the information provided by OCENSA
or by the party acting as the programmer of Vasconia Blend oil shipments. 
  
 PARAGRAPH 2: THE BUYER shall ask OCENSA to include the oil in the volumetric compensation carried out by the Company to establish the volume of Vasconia Mix crude oil that corresponds to each barrel of oil produced in the
Fields delivered by THE SELLER in the Santiago Field. 
  
 PARAGRAPH
3: THE BUYER shall be in control of all the operations and activities deemed necessary for an efficient technique and economical operation of the oil management in the Santiago 

 
CONTRACT VRP – 005 – 2004        Page 3 of 7 
  
 Station. THE BUYER shall not be held responsible for losses caused on THE SELLER for delays in receipt of the crude due to
operational difficulties of the Santiago Field production station. 
  
 PARAGRAPH 4: THE BUYER shall be responsible for any damage caused to THE SELLER, provided these have been caused due to negligence or willful misconduct of THE BUYER, for not shipping the oil that is the subject
matter of this contract in accordance with Paragraph One. 
  
 PARAGRAPH 5:
Oil from the Torcaz fields (Puerto Salgar, Cundinamarca) and Olivo (Aguachica, Cesar), will be included in the blend available for sale in the Estero Field, except that Harken de Colombia Ltd., shall make use at any time of the crude blend from
Olivo, Torcaz, Macarenas and Cajaro to market it as it deems convenient. To such end, THE SELLER shall so notify in writing at least thirty (30) days in advance. 
  
 CLAUSE TWO.—QUALITY: The typical quality of the oil to be purchased shall have the following specifications: Minimum API
gravity 18° API, 0.5% of BS&W and less than 1% sulfur content, with the specifications indicated in Attachment A to this Contract, which forms a part of it.  
  
 PARAGRAPH 1: The quality referenced in this Clause corresponds to that of the oil delivered to THE BUYER, produced in
the Fields. When any of the specifications indicated are not within those that have been pointed out, THE BUYER reserves the right to receive the oil and purchase it. It is understood that THE SELLER shall make his best effort to
deliver the crude oil contracted with the BSW and salt content within the parameters agreed. Any variation regarding the quality specifications indicated above that is accepted by both parties shall be registered in a document signed by the
representatives of the parties. 
  
 PARAGRAPH 2: The quality mentioned in
this Clause shall refer to the CRUDE BLEND passing through the inlet flange of the LACT unit described herein in Clause Three. 
  
 CLAUSE THREE.—DELIVERY SITE AND OWNERSHIP: The oil that is the subject matter of this purchase/sale contract shall be delivered by THE SELLER to
THE BUYER at the inlet flange of the LACT unit, point of arrival of the Estero pipeline to the Santiago Field Station, which belongs to the Upia Association. 
  
 CLAUSE FOUR.—EFFECT: This contract shall be in effect as of 1 May 2005 to 30 April 2006. Notwithstanding the above, this
contract shall be extended automatically for a period equal to the initial period, unless either of the Parties gives thirty days notice of its intent not to renew the contract. 
  
 CLAUSE FIVE.—PRICES: The oil price indicated in this contract, placed at the delivery site agreed upon and mentioned in
Clause Three of this Contract, shall be that obtained by Petrobras in its Vasconia Blend exports, deducting the following charges as indicated below: 
  
 a) Commercialization charges of US$ 0.05/barrel exported 
 b) Rate for third parties of the Oleoducto de Colombia, minus a 10% discount. 
 c) Transportation fees from
Ocensa’s El Porvenir—Vasconia pipeline 
 d) Transportation fees to El Porvenir through the pipeline of US$ 0.5708/barrel.

 CONTRACT VRP – 005 – 2004        Page 4 of 7 

 

	 	e)	Transportation taxes from the Santiago—El Porvenir, El Porvenir—Vasconia, and Oleoducto de Colombia pipelines from Vasconia to Coveñas. 

  
 PARAGRAPH: The transportation fees shall be readjusted every year on January
1st, n accordance with the “F” factor established in Resolution 058 / 2 May 1980, issued by the Ministry
of Mines and Energy. Notwithstanding the above, if for any reason a new resolution is enacted by the Ministry of Mines and Energy and, thus, new fees are established, then the new ones shall immediately apply. 
  
 CLAUSE SIX.—BILLING AND FORM OF PAYMENT: Based on the volume of oil exported by
THE BUYER, THE SELLER shall bill THE BUYER, at his offices in Bogotá. D.C., once THE BUYER has provided the information required, which shall be provided ten (10) days following the date on the “Bill of Lading”
corresponding to the export in which the oil from the Fields has been included. Payments shall be made in U.S. Dollars thirty days following the date on the “Bill of Lading” to the account indicated by THE SELLER. In order to do so,
THE SELLER shall present the invoice at least 15 days in advance of the date on the “Bill of Lading”. The original invoice must be sent in original and registered at the window that receives invoices. PARAGRAPH 1: THE
BUYER shall have a period of ten (10) days after receiving the bills of oil sale to check or object to them. Any invoice that has not been objected to within these periods shall be considered final, correct and indisputable. Any adjustment or
correction required on the invoice shall mean that the valid date of presentation is that upon which said adjustment or correction is received by THE BUYER. THE BUYER shall inform THE SELLER within the term provided of any
invoice that has been objected to, for it to be adjusted and corrected, clearly specifying the items that must be adjusted or corrected and the corresponding reasons therefor. 
  
 PARAGRAPH 1: In the event that for any reason the price of an export made by THE BUYER, in which the crude that is the subject
matter of this Contract is not available within the term established in this Clause, THE BUYER can use a provisional price for THE SELLER to invoice provisionally the oil for the time being and for the payment to be made within the
term of thirty days following the date on the “Bill of Lading” agreed in this Clause. As soon as THE BUYER learns the actual price of the export, he shall inform THE SELLER for the latter to make the respective adjustments on
the invoice corresponding to the following shipment in which Estero oil will be included. 
  
 PARAGRAPH 2: THE SELLER shall bill THE BUYER for the value of the oil sales of the corresponding period plus the VAT applicable on domestic sales. 
  
 CLAUSE SEVEN. INSPECTION AND MEASUREMENT: The quality parameters indicated in Clause
Two of this Contract (    °API,    % of sulfur, BSW and Salt) shall be determined in accordance with the operating procedures established by mutual agreement between the Parties according to a written
document. The certification of quality and volume received shall be delivered by PETROBRAS COLOMBIA LIMITED. If both the dynamic and static measurements are available, the dynamic measurement shall be considered official and the static measurement
shall be used as a redundant measurement. As for the sites where there is only static measurement (manual and automatic), the manual measurement shall be considered official and the automatic measurement shall be redundant. All the equipment and/or
instruments used for dynamic and static measurement systems must be calibrated. 

 CONTRACT VRP – 005 – 2004        Page 5 of 7 

 
 The sulfur content of the oil for effects of billing shall be the value reported by the
Instituto Colombiano del Petróleo—ICP, in accordance with the biannual analyses carried out on each crude. THE BUYER shall update this information biannually and present it to THE SELLER. Either of the Parties may designate
an independent inspector at any time to certify the quality and quantity, verify the gauging of the tanks or the calibration of the volume measurement instruments. The cost shall be shared in equal parts between THE BUYER and THE
SELLER. 
  
 CLAUSE EIGHT.—TERMINATION: THE SELLER or THE
BUYER may at any time consider this contract of sale terminated with no obligation to indemnify the other party for any damage, provided said decision is communicated to the other party in writing at least thirty (30) calendar days in advance of
the actual date of termination of the contract. 
  
 CLAUSE
NINE.—TRANSFER: THE SELLER may not assign, sell or transfer all or any part of its rights and obligations contracted herein to a third party without the prior written consent from the other party. 
  
 CLAUSE TEN.—RESPONSIBILITY: THE SELLER SHALL be held responsible for the
management and transportation of the crude oil that is the subject matter of this contract to the delivery site established in Clause Three herein. Therefore, THE SELLER assumes responsibility for any event that may arise before reaching the
delivery site. THE SELLER must have a contingency plan to remedy these situations, including those derived from spills and damage caused by the transporters used by THE SELLER. PARAGRAPH: THE SELLER is bound to comply with and
have its contractors comply with all the security policies in effect to access the Petrobras facilities in the Santiago Field. THE BUYER reserves the right to allow access to the facilities of the Santiago Field in the event of non-compliance
with these norms, which, in turn, must be informed by THE BUYER to THE SELLER for their fulfillment. 
  
 CLAUSE ELEVEN.—FORCE MAJEURE: Neither THE BUYER nor THE SELLER shall be held responsible for the failure to fulfill nor the
unsatisfactory fulfillment of any or all of the obligations indicated herein, if said failure is caused by events that constitute duly proven force majeure or acts of God. Force majeure shall not release THE BUYER from his obligation to pay
THE SELLER for the invoices on account of oil delivered by THE SELLER, in accordance with the terms stipulated herein. 
  
 CLAUSE TWELVE.—APPLICATION OF COLOMBIAN LAW: This contract is governed by Colombian law and the Parties waive the right to diplomatic claim as regards the
rights and obligations in this contract, except in the event of denial of justice. PARAGRAPH: For all purposes of this contract, it is understood that the provisions of Article 25 of Law 40 / 1993 have been incorporated herein, along with the
ruling issued by the Constitutional Court regarding said Article on November twenty fourth (24), 1993 (Docket D-275) and Chapter Two, Section Two, Part Two of Law 418 / 1997. 
  
 CLAUSE THIRTEEN.—NOTICES: All notices provided in accordance with this contract must be sent by registered mail, fax, telex, or
delivered at the addresses indicated below, and they will be considered received at the respective address on the date that appears on the receipt of the letter or on the date upon which it is sent by telex or fax: THE BUYER Petrobras
Colombia Limited Care of: 

 
CONTRACT VRP – 005 – 2004        Page 6 of 7 
  
 Miguel Olarte, Carrera 7 número 71 –21, piso 17 Torre B - FAX 3135149. THE SELLER Harken de Colombia Ltd, Calle
114 No. 9-01, Oficina 10-03, Edificio Teleport, Torre A, Bogotá. 
  
 CLAUSE FOURTEEN.—TAXES AND EXPENSES: Both parties of this purchase/sale contract declare that they are aware of and accept the taxes and/or withholding applicable to them in accordance with the current laws. In the event
that remittance taxes are caused, these will be paid for by THE SELLER. The stamp tax shall be paid in equal parts between THE SELLER and THE BUYER. For the effects of the stamp tax, this sale shall be considered for an
undetermined but determinable amount. Its final value will result from applying the unit prices agreed in Clause Five herein by the volume delivered in accordance with production and the share interest of THE SELLER in the Alcaraván
Association Contract or the Rio Verde Exploration and Exploitation Contract. In addition, THE SELLER hereby declares that he is aware of and will subject to any other withholding applicable by virtue of entering into and fulfilling of this
transaction. 
  
 CLAUSE FIFTEEN.—SETTLEMENT OF CONTROVERSIES: a)
Any controversy that may arise due to this Contract related to technical matters that cannot be settled directly by the Parties during the performance of the Contract shall be settled recurring to friendly procedures as regulated in the
Colombian Business Code. The friendly mediator for each controversy shall be appointed by mutual agreement between THE BUYER and THE SELLER. The friendly settlement process shall take place at the offices of the friendly mediator in
Bogotá D.C., in Spanish. Each party shall have the right to refer any controversy to the friendly mediator, notifying the other Party and the friendly mediator in a timely manner, where said notice must indicate the following terms that must
be accepted by the friendly mediator by means of a tripartite agreement with THE BUYER and THE SELLER: (I) the friendly settlement shall be made in accordance with the applicable Colombian law; (II) The documentary evidence
shall not require the presentation of certificates of legalization, unless required by the friendly mediator; (III) The term to prepare the pleadings and supporting evidence by the parties shall be forty five (45) business days as of the date
of the tripartite agreement indicated above; (IV) The last day of the period of forty-five (45) business days referred to in Section III shall be the only date upon which the pleadings can be presented before the friendly mediator; and (V)
A term of 30 Colombian business days for the Friendly mediator to settle the controversy in writing staring on the Colombian business day following the period of forty-five (45) business days indicated in Section III. Each friendly settlement
shall have the effect of a transaction as per Colombian Law, and therefore constitutes res judicata. If the Friendly mediator fails to deliver the settlement within the term established above, the decision, if any, shall not be binding for
the Parties, and either Party shall have the right to refer the controversy to arbitration in accordance with Section b) of this clause. If THE BUYER and THE SELLER cannot agree on the friendly mediator by the thirtieth (30) day
following the notice of said controversy, either Party shall have the right to refer it to arbitration as prescribed by Section b) of this clause. b) Any controversy regarding this Contract other than those settled in accordance with Section
a) of this clause, except for that agreed expressly therein, which cannot be settled directly by the parties during the performance of the contract, shall be settled by arbitration in accordance with the rules of arbitration subject to the
Bogotá Chamber of Commerce. Said arbitration shall be carried out with a panel of three arbitrators appointed by mutual agreement between the parties. Should an agreement not be reached, the arbitrators will be chosen by lots drawn to
decide on them by the Chamber of Commerce in Bogotá, D.C., Colombia and conducted in Spanish. The decision of the arbitrators shall be final and binding for the Parties, to obtain jurisdictional decision of enforcement in any court with
jurisdiction over the Party that will execute it. 

 
CONTRACT VRP – 005 – 2004        Page 7 of 7 
  
 c) The arbitrators shall base their decision on the law and the applicable law will be Colombian law. d) Any fees and expenses
associated with the friendly settlement according to Section a) of this clause or arbitration according to Section b) of this clause shall be paid by the losing party. The fees and expenses associated with the actions required to enforce the
decision of the arbitrator shall be paid by the party against which the execution has been established. 
  
 In witness whereof, this document is signed in Bogotá D.C. on the eighteen day of April 2005, two thousand five (2005), in two identical copies. 
  

					
	THE BUYER	 	 	 	THE SELLER
			
	  	 	 	 	  
	 JOSE RAIMUNDO BRANDAO PEREIRA
	 	 	 	 GUILLERMO SANCHEZ B.Form of Indemnification Agreement for Officers and Directors

 Exhibit 10.15 
  
 INDEMNIFICATION AGREEMENT 
  
 THIS INDEMNIFICATION AGREEMENT is made and entered into this              day of
                     2005, (the “Agreement”), by and between IBuyDigital.com, Inc., a Delaware corporation (the “Company,”
which term shall include, where appropriate, any Entity (as hereinafter defined) controlled directly or indirectly by the Company), and
                             (the “Indemnitee”): 
  
 WHEREAS, the Company desires Indemnitee to be an officer and/or director of
the Company; 
  
 WHEREAS, applicable state and federal rules and
regulations and increased corporate and securities litigation have subjected officers and directors of public companies to litigation risks and expenses, and the limitations on the availability of directors and officers liability insurance have made
it increasingly difficult for the Company to attract and retain such persons; 
  
 WHEREAS, the Company’s Certificate of Incorporation (the “Certificate of Incorporation”) requires the Company to indemnify its officers and directors, subject to reservation of right to amend or repeal
any provision of the Certificate of Incorporation, and permit it to make other indemnification arrangements and agreements; 
  
 WHEREAS, 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; and 
  
 WHEREAS, Indemnitee is relying upon the rights afforded under this Agreement in becoming and remaining as an officer and/or director of the Company.

  
 NOW, THEREFORE, in consideration of the promises and the
covenants contained herein, the Company and Indemnitee do hereby covenant and agree as follows: 
  
 1. Definitions. 
  
 (a) “Corporate Status” describes the status of a person who is serving or has served (i) as an officer or director of the Company, (ii) in any
capacity with respect to any employee benefit plan of the Company, or (iii) as a director, partner, trustee, officer, employee, or agent of any other Entity at the request of the Company. For purposes of subsection (iii) of this Section 1(a), if
Indemnitee is serving or has served as a director, partner, trustee, officer, employee or agent of a Subsidiary (as defined below), Indemnitee shall be deemed to be serving at the request of the Company. 

 (b) “Entity” shall mean any corporation, partnership, limited liability company, joint venture,
trust, foundation, association, organization or other legal entity. 
  
 (c) “Expenses” shall mean all fees, costs and expenses incurred by Indemnitee in connection with any Proceeding (as defined below), including, without limitation, attorneys’ fees, disbursements and retainers (including,
without limitation, any such fees, disbursements and retainers incurred by Indemnitee pursuant to Sections 10 and 11(c) of this Agreement), fees and disbursements of expert witnesses, private investigators and professional advisors (including,
without limitation, accountants and investment bankers), court costs, transcript costs, fees of experts, travel expenses, duplicating, printing and binding costs, telephone and fax transmission charges, postage, delivery services, secretarial
services, and other disbursements and expenses. 
  
 (d)
“Indemnifiable Expenses,” “Indemnifiable Liabilities” and “Indemnifiable Amounts” shall have the meanings ascribed to those terms in Section 3(a) below. 
  
 (e) “Liabilities” shall mean judgments, damages, liabilities, losses, penalties, excise taxes, fines and amounts
paid in settlement. 
  
 (f) “Prior Event” shall mean
any claim, threatened claim or facts giving rise to a future claim that was present as of                     , 2005. 
  
 (g) “Proceeding” shall mean any threatened, pending or completed
claim, action, suit, arbitration, alternate dispute resolution process, investigation, administrative hearing, appeal, or any other proceeding, whether civil, criminal, administrative, arbitrative or investigative, whether formal or informal,
including a proceeding initiated by Indemnitee pursuant to Section 10 of this Agreement to enforce Indemnitee’s rights hereunder. 
  
 (h) “Subsidiary” shall mean any corporation, partnership, limited liability company, joint venture, trust or other Entity of which the Company
owns (either directly or through or together with another Subsidiary of the Company) either (i) a general partner, managing member or other similar interest or (ii) (A) 50% or more of the voting power of the voting capital equity interests of such
corporation, partnership, limited liability company, joint venture or other Entity, or (B) 50% or more of the outstanding voting capital stock or other voting equity interests of such corporation, partnership, limited liability company, joint
venture or other Entity. 
  
 2. Services of Indemnitee. In
consideration of the Company’s covenants and commitments hereunder, Indemnitee agrees to serve or continue to serve as an officer and director of the Company. However, this Agreement shall not impose any obligation on 

  

 2 

 
Indemnitee or the Company to continue Indemnitee’s service to the Company beyond any period otherwise required by law or by other agreements or
commitments of the parties, if any. 
  
 3. Agreement to
Indemnify. The Company agrees to indemnify Indemnitee as follows: 
  
 (a) Proceedings Other Than By or In the Right of the Company. Subject to the exceptions contained in Section 4(a) below, if Indemnitee was or is a party or is threatened to be made a party to any Proceeding (other than an action by
or in the right of the Company) by reason of Indemnitee’s Corporate Status or in any way relating to a Prior Event, Indemnitee shall be indemnified by the Company against all Expenses and Liabilities incurred or paid by Indemnitee in connection
with such Proceeding (referred to herein as “Indemnifiable Expenses” and “Indemnifiable Liabilities,” respectively, and collectively as “Indemnifiable Amounts”). 
  
 (b) Proceedings By or In the Right of the Company. Subject to the
exceptions contained in Section 4(b) below, if Indemnitee was or is a party or is threatened to be made a party to any Proceeding by or in the right of the Company by reason of Indemnitee’s Corporate Status, Indemnitee shall be indemnified by
the Company against all Indemnifiable Expenses. 
  
 (c)
Conclusive Presumption Regarding Standard of Care. In making any determination required to be made under Delaware law or other law with respect to entitlement to indemnification hereunder, the person, persons or entity making such
determination shall presume that Indemnitee is entitled to indemnification under this Agreement if Indemnitee submitted a request therefor in accordance with Section 5 of this Agreement, and the Company shall have the burden of proof to overcome
that presumption in connection with the making by any person, persons or entity of any determination contrary to that presumption. 
  
 4. Exceptions to Indemnification. Indemnitee shall be entitled to indemnification under Sections 3(a) and 3(b) above in all circumstances other
than with respect to any specific claim, issue or matter involved in the Proceeding out of which Indemnitee’s claim for indemnification has arisen, as follows: 
  
 (a) Proceedings Other Than By or In the Right of the Company. If indemnification is requested under Section 3(a) and
it has been finally adjudicated by a court of competent jurisdiction that, in connection with such specific claim, issue or matter, Indemnitee failed to act (i) in good faith and (ii) in a manner Indemnitee reasonably believed to be in or not
opposed to the best interests of the Company, or, with respect to any criminal action or proceeding, Indemnitee had reasonable cause to believe that Indemnitee’s conduct was unlawful, Indemnitee shall not be entitled to payment of Indemnifiable
Amounts hereunder. 
  

 3 

 (b) Proceedings By or In the Right of the Company. If indemnification is requested under Section
3(b) and 
  
 (i) it has been finally adjudicated by a court of
competent jurisdiction that, in connection with such specific claim, issue or matter, Indemnitee failed to act (A) in good faith and (B) in a manner Indemnitee reasonably believed to be in or not opposed to the best interests of the Company,
Indemnitee shall not be entitled to payment of Indemnifiable Expenses hereunder; or 
  
 (ii) it has been finally adjudicated by a court of competent jurisdiction that Indemnitee is liable to the Company with respect to such specific claim, no Indemnifiable Expenses shall be paid with respect to such
claim, issue or matter unless a court of competent jurisdiction in which such Proceeding was brought shall determine upon application that, despite the adjudication of liability, but in view of all the circumstances of the case, Indemnitee is fairly
and reasonably entitled to indemnification for such Indemnifiable Expenses which such court shall deem proper; or 
  
 (iii) it has been finally adjudicated by a court of competent jurisdiction that Indemnitee is liable to the Company for an accounting of profits made from
the purchase or sale by the Indemnitee of securities of the Company pursuant to the provisions of Section 16(b) of the Securities Exchange Act of 1934, the rules and regulations promulgated thereunder and amendments thereto or similar provisions of
any federal, state or local statutory law. 
  
 (c) Insurance
Proceeds. To the extent payment is actually made to the Indemnitee under a valid and collectible insurance policy in respect of Indemnifiable Expenses in connection with such specific claim, issue or matter, Indemnitee shall not be entitled to
payment of Indemnifiable Expenses hereunder except in respect of any excess beyond the amount of payment under such insurance. 
  
 5. Procedure for Payment of Indemnifiable Amounts and Indemnifiable Expenses. Indemnitee shall submit to the Company a written request specifying
the Indemnifiable Amounts or Indemnifiable Expenses, as applicable, for which Indemnitee seeks payment under Section 3 of this Agreement and the basis for the claim. The Company shall pay such Indemnifiable Amounts or Indemnifiable Expenses, as
applicable, to Indemnitee within ten (10) calendar days of receipt of the request. At the request of the Company, Indemnitee shall furnish such documentation and information as are reasonably available to Indemnitee and necessary to establish that
Indemnitee is entitled to indemnification hereunder. 
  

 4 

 6. Indemnification for Expenses of a Party Who is Wholly or Partly Successful. Notwithstanding any
other provision of this Agreement, and without limiting any such provision, to the extent that Indemnitee is, by reason of Indemnitee’s Corporate Status, a party to and is successful, on the merits or otherwise, in any Proceeding, Indemnitee
shall be indemnified against all Expenses reasonably incurred by Indemnitee or on Indemnitee’s behalf in connection therewith. If Indemnitee is not wholly successful in such Proceeding but is successful, on the merits or otherwise, as to one or
more but less than all claims, issues or matters in such Proceeding, the Company shall indemnify Indemnitee against all Expenses reasonably incurred by Indemnitee or on Indemnitee’s behalf in connection with each successfully resolved claim,
issue or matter. For purposes of this Agreement, the termination of any claim, issue or matter in such a Proceeding by dismissal, with or without prejudice, by reason of settlement, judgment, order or otherwise, shall be deemed to be a successful
result as to such claim, issue or matter. 
  
 7. Effect
of Certain Resolutions. Neither the settlement or termination of any Proceeding nor the failure of the Company to award indemnification or to determine that indemnification is payable shall create a presumption that Indemnitee is not entitled to
indemnification hereunder. In addition, the termination of any proceeding by judgment, order, settlement, conviction, or upon a plea of nolo contendere or its equivalent shall not create a presumption that Indemnitee did not act in good faith and in
a manner which Indemnitee reasonably believed to be in or not opposed to the best interests of the Company or, with respect to any criminal action or proceeding, had reasonable cause to believe that Indemnitee’s action was unlawful. 

 
 8. Agreement to Advance Indemnifiable Expenses; Undertaking. The
Company shall advance all Indemnifiable Expenses incurred by or on behalf of Indemnitee in connection with any Proceeding, including a Proceeding by or in the right of the Company, in which Indemnitee is involved by reason of such Indemnitee’s
Corporate Status or in any way relating to a Prior Event within ten (10) calendar days after the receipt by the Company of a written statement from Indemnitee requesting such advance or advances from time to time, whether prior to or after final
disposition of such Proceeding. To the extent required by Delaware law, Indemnitee hereby undertakes to repay any and all of the amount of Indemnifiable Expenses paid to Indemnitee if it is finally determined by a court of competent jurisdiction
that Indemnitee is not entitled under this Agreement to indemnification with respect to such Expenses. This undertaking is an unlimited general obligation of Indemnitee. 
  
 9. Procedure for Advance Payment of Expenses. Indemnitee shall submit to the Company a written request specifying the
Indemnifiable Expenses for which Indemnitee seeks an advancement under Section 8 of this Agreement, together with documentation evidencing that Indemnitee has incurred such Indemnifiable Expenses. Payment of Indemnifiable Expenses under Section 8
shall be made no later than ten (10) calendar days after the Company’s receipt of such request. 
  

 5 

 10. Remedies of Indemnitee. 
  
 (a) Right to Petition Court. In the event that Indemnitee makes a request for payment of Indemnifiable Amounts under
Sections 3 and 5 above or a request for an advancement of Indemnifiable Expenses under Sections 8 and 9 above and the Company fails to make such payment or advancement in a timely manner pursuant to the terms of this Agreement, Indemnitee may
petition the court of competent jurisdiction to enforce the Company’s obligations under this Agreement. 
  
 (b) Burden of Proof. In any judicial proceeding brought under Section 10(a) above, the Company shall have the burden of proving that Indemnitee is
not entitled to payment of Indemnifiable Amounts hereunder. 
  
 (c) Expenses. The Company agrees to reimburse Indemnitee in full for any Expenses incurred by Indemnitee in connection with investigating, preparing for, litigating, defending or settling any action brought by Indemnitee under
Section 10(a) above, or in connection with any claim or counterclaim brought by the Company in connection therewith, whether or not Indemnitee is successful in whole or in part in connection with any such action. 
  
 (d) Failure to Act Not a Defense. The failure of the Company
(including its Board of Directors or any committee thereof, independent legal counsel, or stockholders) to make a determination concerning the permissibility of the payment of Indemnifiable Amounts or the advancement of Indemnifiable Expenses under
this Agreement shall not be a defense in any action brought under Section 10(a) above, and shall not create a presumption that such payment or advancement is not permissible. 
  
 11. Defense of the Underlying Proceeding. 
  
 (a) Notice by Indemnitee. Indemnitee agrees to notify the Company promptly upon being served with any summons,
citation, subpoena, complaint, indictment, information, or other document relating to any Proceeding which may result in the payment of Indemnifiable Amounts or the advancement of Indemnifiable Expenses hereunder; provided, however, that the failure
to give any such notice shall not disqualify Indemnitee from the right, or otherwise affect in any manner any right of Indemnitee, to receive payments of Indemnifiable Amounts or advancements of Indemnifiable Expenses unless the Company’s
ability to defend in such Proceeding is materially and adversely prejudiced thereby. 
  
 (b) Defense by Company. Subject to the provisions of the last sentence of this Section 11(b) and of Section 11(c) below, the Company shall have the right to defend Indemnitee in any Proceeding which may give
rise to the payment of Indemnifiable Amounts hereunder; provided, however that the Company shall 

  

 6 

 
notify Indemnitee of any such decision to defend within ten (10) calendar days of receipt of notice of any such Proceeding under Section 11(a) above. The
Company shall not, without the prior written consent of Indemnitee, consent to the entry of any judgment against Indemnitee or enter into any settlement or compromise which (i) includes an admission of fault of Indemnitee or (ii) does not include,
as an unconditional term thereof, the full release of Indemnitee from all liability in respect of such Proceeding, which release shall be in form and substance reasonably satisfactory to Indemnitee. This Section 11(b) shall not apply to a Proceeding
brought by Indemnitee under Section 10(a) above or pursuant to Section 19 below. 
  
 (c) Indemnitee’s Right to Counsel. Notwithstanding the provisions of Section 11(b) above, if in a Proceeding to which Indemnitee is a party by reason of Indemnitee’s Corporate Status, (i)
Indemnitee reasonably concludes that he or she may have separate defenses or counterclaims to assert with respect to any issue which may not be consistent with the position of other defendants in such Proceeding, (ii) a conflict of interest or
potential conflict of interest exists between Indemnitee and the Company, or if the Company fails to assume the defense of such proceeding in a timely manner, Indemnitee shall be entitled to be represented by separate legal counsel of
Indemnitee’s choice at the expense of the Company. In addition, if the Company fails to comply with any of its obligations under this Agreement or in the event that the Company or any other person takes any action to declare this Agreement void
or unenforceable, or institutes any action, suit or proceeding to deny or to recover from Indemnitee the benefits intended to be provided to Indemnitee hereunder, Indemnitee shall have the right to retain counsel of Indemnitee’s choice, at the
expense of the Company, to represent Indemnitee in connection with any such matter. 
  
 12. Representations and Warranties of the Company. The Company hereby represents and warrants to Indemnitee as follows: 
  

(a) Authority. The Company has all necessary power and authority to enter into, and be bound by the terms of, this Agreement, and the execution,
delivery and performance of the undertakings contemplated by this Agreement have been duly authorized by the Company. 
  
 (b) Enforceability. This Agreement, when executed and delivered by the Company in accordance with the provisions hereof, shall be a legal, valid
and binding obligation of the Company, enforceable against the Company in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, moratorium, reorganization or similar laws affecting the
enforcement of creditors’ rights generally. 
  
 13.
Insurance. The Company shall, from time to time, make the good faith determination whether or not it is practicable for the Company to obtain and maintain a policy or 

  

 7 

 
policies of insurance with a reputable insurance company providing the Indemnitee with coverage for losses from wrongful acts, and to ensure the
Company’s performance of its indemnification obligations under this Agreement. In all policies of director and officer liability insurance, Indemnitee shall be named as an insured in such a manner as to provide Indemnitee the same rights and
benefits as are accorded to the most favorably insured of the Company’s officers and directors. Notwithstanding the foregoing, the Company shall have no obligation to obtain or maintain such insurance if the Company determines in good faith
that such insurance is not reasonably available, if the premium costs for such insurance are disproportionate to the amount of coverage provided, or if the coverage provided by such insurance is limited by exclusions so as to provide an insufficient
benefit. The Company shall promptly notify Indemnitee of any good faith determination not to provide such coverage. 
  
 14. Contract Rights Not Exclusive. The rights to payment of Indemnifiable Amounts and advancement of Indemnifiable Expenses provided by this
Agreement shall be in addition to, but not exclusive of, any other rights which Indemnitee may have at any time under applicable law, the Company’s Certificate of Incorporation, or any other agreement, vote of stockholders or directors (or a
committee of directors), or otherwise, both as to action in Indemnitee’s official capacity and as to action in any other capacity as a result of Indemnitee’s serving as a director of the Company. 
  
 15. Successors. This Agreement shall be (a) binding upon all
successors and assigns of the Company (including any transferee of all or a substantial portion of the business, stock and/or assets of the Company and any direct or indirect successor by merger or consolidation or otherwise by operation of law) and
(b) binding on and shall inure to the benefit of the heirs, personal representatives, executors and administrators of Indemnitee. This Agreement shall continue for the benefit of Indemnitee and such heirs, personal representatives, executors and
administrators after Indemnitee has ceased to have Corporate Status. 
  
 16. Subrogation. In the event of any payment of Indemnifiable Amounts under this Agreement, the Company shall be subrogated to the extent of such payment to all of the rights of contribution or recovery of Indemnitee against other
persons, and Indemnitee shall take, at the request of the Company, all reasonable action necessary to secure such rights, including the execution of such documents as are necessary to enable the Company to bring suit to enforce such rights.

  
 17. Change in Law. To the extent that a change in
Delaware law (whether by statute or judicial decision) shall permit broader indemnification or advancement of expenses than is provided under the terms of this Agreement, Indemnitee shall be entitled to such broader indemnification and advancements,
and this Agreement shall be deemed to be amended to such extent. 
  
 18. Severability. Whenever possible, each provision of this Agreement shall be interpreted in such a manner as to be effective and valid under applicable law, but if any provision of this Agreement, or any clause thereof, shall be
determined by a court of competent jurisdiction to be illegal, invalid or unenforceable, in whole or in part, such provision or clause 

  

 8 

 
shall be limited or modified in its application to the minimum extent necessary to make such provision or clause valid, legal and enforceable, and the
remaining provisions and clauses of this Agreement shall remain fully enforceable and binding on the parties. 
  
 19. Indemnitee as Plaintiff. Except as provided in Section 10(c) of this Agreement and in the next sentence, Indemnitee shall not be entitled to
payment of Indemnifiable Amounts or advancement of Indemnifiable Expenses with respect to any Proceeding brought by Indemnitee against the Company, any Entity which it controls, any director or officer thereof, or any third party, unless at least a
majority of the members of the Board of Directors of the Company other than Indemnitee has consented to the initiation of such Proceeding. This Section shall not apply to counterclaims or affirmative defenses asserted by Indemnitee in an action
brought against Indemnitee. 
  
 20. Modifications and
Waiver. Except as provided in Section 17 above with respect to changes in Delaware law which broaden the right of Indemnitee to be indemnified by the Company, no supplement, modification or amendment of this Agreement shall be binding unless
executed in writing by each of the parties hereto. No waiver of any of the provisions of this Agreement shall be deemed or shall constitute a waiver of any other provisions of this Agreement (whether or not similar), nor shall such waiver constitute
a continuing waiver. 
  
 21. General Notices. All notices,
requests, demands and other communications hereunder shall be in writing and shall be deemed to have been duly given (a) when delivered by hand, (b) when transmitted by facsimile and receipt is acknowledged, or (c) if mailed by certified or
registered mail with postage prepaid, on the third business day after the date on which it is so mailed: 
  

	 	(i)	If to Indemnitee, to: 

  
 [Name of Indemnitee] 
 [Address]

 [Address] 
 Fax:
(        ) 
  

	 	(ii)	If to the Company, to: 

  
 IBuyDigital.com, Inc. 
 252 Conover Street

 Brooklyn, New York 11231 
 Attention: President and Chief Executive Officer 
 Fax: (718) 254-9393 
  
 or to such other address as may have been furnished in the same manner by any party to the
others. 
  

 9 

 22. Governing Law; Consent to Jurisdiction; Service of Process. This Agreement shall be governed
by and construed in accordance with the laws of the State of Delaware without regard to its rules of conflict of laws. Each of the Company and the Indemnitee hereby irrevocably and unconditionally consents to submit to the exclusive jurisdiction of
the state and federal courts of the State of New York, (the “New York Courts”) for any litigation arising out of or relating to this Agreement and the transactions contemplated hereby (and agrees not to commence any litigation relating
thereto except in such courts), waives any objection to the laying of venue of any such litigation in the New York Court and agrees not to plead or claim in any New York Court that such litigation brought therein has been brought in an inconvenient
forum. Each of the parties hereto agrees, (a) to the extent such party is not otherwise subject to service of process in the State of New York, to appoint and maintain an agent in the State of New York as such party’s agent for acceptance of
legal process, and (b) that service of process may also be made on such party by prepaid certified mail with a proof of mailing receipt validated by the United States Postal Service constituting evidence of valid service. Service made pursuant to
(a) or (b) above shall have the same legal force and effect as if served upon such party personally within the State of New York. For purposes of implementing the parties’ agreement to appoint and maintain an agent for service of process in the
State of New York, each such party does hereby appoint Corporation Service Company as such agent and each such party hereby agrees to complete all actions necessary for such appointment. 
  
 [SIGNATURE PAGE FOLLOWS] 
  

 10 

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

									
	COMPANY:	 	 	 	 IBUYDIGITAL.COM, INC.

					
	 	 	 	 	 	 	 By:
	 	 
	 	 	 	 	 	 	 Name:
	 	 
	 	 	 	 	 	 	 Title:
	 	 
				
	INDEMNITEE:	 	 	 	 	 	 
					
	 	 	 	 	 	 	 	 	 

  

 11

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