Document:

EXHIBIT
10.17

    

    DISTRIBUTOR
/ BLENDERS AGREEMENT

    

    This
Distributor / Blenders Agreement ("Agreement") is entered into as of the 1st day
of March, 2009 (the “Effective Date”), by and between PERF GO-GREEN HOLDINGS,
INC., a Delaware Corporation (”Perf"), and INVENTEK COLLOIDAL CLEANERS, Inc. a
Delaware  Corporation ("Inventek”) (each of the foregoing is a “Party”
and collectively they are the “Parties”).

     

    RECITALS

     

    A.           Whereas
Inventek desires to enter into a strategic relationship with Perf whereby
Inventek shall grant Perf a perpetual royalty free license and exclusive right
to sell worldwide the five (5) products listed in Exhibit A and any additional
products as the Parties shall mutually agree (the “Products”).

     

    B.           Whereas
Perf is a marketing and distribution corporation engaged in the sale of certain
biodegradable products to retail and commercial customers worldwide and wishes
to offer a line of private label cleaning products to its customer base;
and

     

    C.           Whereas
Inventek is an inventor and manufacturer of certain colloidal-based products
that are used in the manufacturing of natural, biodegradable cleaning products
(“Products”); and

     

    D.           The
Parties wish to enter into a Distributor / Blender relationship in which Perf
will sell Products to retail and commercial, as well as federal, state and local
government agencies under the Perf’s private label name Perf Go
Clean.

     

     

    NOW,
THEREFORE, in consideration of the premises herein contained, as well as the
mutual obligations herein made and other good and valuable consideration, the
receipt and sufficiency of which is acknowledged, the Parties, intending to be
legally bound, hereby covenant and agree as follows:

     

    
      	
              1.

            	
              SCOPE
      OF SERVICES

            

    

     

    1.1           Perf
shall use its commercially reasonable efforts to solicit orders for Products
from potential customers. Perf shall pay all costs and expenses incurred in
providing such services.

     

    1.2           Perf
shall have an exclusive, non-transferable, (unless agreed to in writing by BOTH
PARTIES), perpetual license and right to sell the Products in accordance with
the terms of this Agreement.

     

    1.3           The
Products are described in Exhibit A of this Agreement.  From time to
time both Parties may review and add Products to this list.  A line
card of Inventek’s products are described in Exhibit B of this
Agreement.

     

    1.4           From
time to time, and as often as reasonably necessary Perf shall keep Inventek
informed of market developments, competitive activities, any and all
non-proprietary feedback Perf receives from its customers, potential customers,
competitors, suppliers, and downstream in-direct distribution on Inventek, its
Products, and its pricing.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    1.5           Each
Party shall provide reasonable support for the sale of Products by
Perf.  Inventek will furnish marketing support to assist Perf in
introducing Products and services to customers and potential
customers.  Each Party shall pay its own expenses in connection with
any marketing activities.

     

    1.6           Inventek
may provide Perf with other services as may be reasonably requested by Perf,
such as storage and shipping.  Prices for such services would be
agreed to in advance.

     

    1.7           Inventek
and its principal stockholders and affiliates, successors and assigns agree not
compete with Perf in the sale of products substantially similar to the Products,
either directly or indirectly.

     

    
      	
              2.

            	
              PRICING
      AND PAYMENT TERMS.

            

    

     

    2.1           Perf
shall pay to Inventek one million dollars ($1,000,000), for the paid-up
distributorship rights to the Products. Such payment will be made in Perf’s
common stock, with the number of shares determined by utilizing the price of
fifty cents ($0.50) per share which shall equal two million (2,000,000) shares
of Perf’s common stock (the “Shares”).  Such Shares shall be issued as
soon as reasonably practical after Perf amends its Certificate of Incorporation
to increase the number of shares of common stock Perf is authorized to
issue.  As additional consideration, Perf shall issue to Inventek
warrants to purchase 2,000,000 shares of Perf’s common stock with an exercise
price of fifty cents ($0.50) (the “Warrant”).  The Warrant shall be
exercisable for a period of two years and shall not be exercisable until such
time as Perf amends its Certificate of Incorporation in order to increase the
number of shares of common stock Perf is authorized to issue.

     

    2.2           The
Warrant shall be subject to adjustment for stock splits, stock dividends and
other dilative events upon which Perf issues shares of its common stock at a
price per share of less than $0.50.  Shares issuable under Perf’s 2008
Share Incentive Plan and pursuant to convertible securities outstanding as of
the date hereof shall be excluded from such anti-dilutive
provisions.

     

    2.3           Perf
shall determine the prices at which it sells the Products. The transfer prices
charged to Perf by Inventek for the Products will be based on the mutually
agreed upon price schedule, identified in the Exhibit A.

     

    2.4           Product
may be delivered to Perf, at the sole discretion of Perf, as a final Product, or
in a form of concentrate to be processed into final Product by Perf or by a
contract packager of Perf’s choice. Concentrate price are identified in the
Exhibit A.

     

    3.              TERM.  This
Agreement shall terminate five (5) years from the Effective Date of this
Agreement unless extended in accordance with this Section 3 (the “Term,” which
shall include all
extensions thereof).  The Term shall be automatically renewed for
successive five (5) year term.

     

     

    
      
         

      

      
        Page 2 of
6

        
          

        

      

      
         

      

    

     

    4.    REPRESENTATIONS
AND WARRANTIES

     

    4.1           Intellectual
Property.  Schedule C sets forth a list of all patents and
registered trademarks, trade names and copyrights, and all pending applications
for patents, trademarks, and copyrights, owned by or licensed on an exclusive
basis to Inventek (the “Material Intellectual Property”), together with a
summary description in respect of the filing, registration or issuance
thereof.  No licenses, sublicenses, covenants or agreements have been
granted or entered into by Inventek in respect of such Material Intellectual
Property.  No material patents or material registered trademarks,
trade names or copyrights, other than the Material Intellectual Property,
non-exclusive licenses to commercially available software and to patents and
copyrights embedded in equipment or fixtures, are necessary for the manufacture
and sale of the Products.  Inventek has not received notice that any
Material Intellectual Property has been declared unenforceable or otherwise
invalid by any governmental authority.  Inventek owns the Material
Intellectual Property purported to be owned by it, free and clear of all
security interests, liens and encumbrances, other than the license granted
hereunder.  Except for employees of Inventek, the Material
Intellectual Property has not been disclosed to any person, firm or
company.  None of the Material Intellectual Property purported to be
owned by Inventek is currently being challenged in a lawsuit or action before
any court or other governmental body.  To Inventek's knowledge after
reasonable investigation, Inventek’s manufacturing of the Products does not
infringe any patent, trademark or copyright of any third
party.  Inventek shall defend and indemnify Perf for any liability,
claim or damage incurred by Perf associated with the Material Intellectual
Property.

     

    4.2           Due
Authorization.  This Agreement and all actions provided for
herein have been duly authorized by all necessary corporate
actions.

     

    4.3           Consents.  The
execution, delivery and performance of this Agreement by each of the Parties and
the consummation of the transactions contemplated by this Agreement will not (i)
require the consent, approval or authorization of any other individual,
corporation, partnership, limited liability company, trust, joint venture or
other entity or public authority; (ii) violate or contravene the organizational
certificates, documents and agreements, as amended to date, of Inventek, (iii)
violate or contravene any law, statute, rule, regulation, order, judgment or
decree to which Inventek is subject, or (iv) conflict with or result in a breach
of or constitute a default by any party under any contract, agreement,
instrument or other document to which Inventek or its shareholders is a party or
by Inventek or its shareholders or any of its or their assets or properties are
bound or subject.

     

    4.4           Products.                                Inventek
represents and warrants that the Products shall function in
accordance with the specifications provided to Perfand attached as part of
Schedule
D.   Inventek
represents and warrants that there has never been any material defects in,
failures to warn, or breaches of warranties or representations with respect to,
any product manufactured, shipped, sold or delivered by Inventek.

     

    5.           GENERAL
PROVISIONS

     

    5.1           Entire
Agreement.  This Agreement, and its exhibits incorporated by
reference constitute the entire and sole agreement between the Parties with
respect to the subject matter hereof
and supersede any prior agreements, negotiations, understandings, or other
matters, whether oral or written, with respect to the subject matter
hereof.  This Agreement cannot be modified, changed, or amended,
except in writing signed by a duly authorized representative of each of the
parties.

     

     

    
      
         

      

      
        Page 3 of
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    5.2           Investment
Representation.  By accepting the Shares and the Warrant,
Inventek acknowledges that it is being taken for its own account as principal,
for investment purposes only, and not with a view to, or for, resale,
distribution or fractionalization thereof, in whole or in part, and no other
person has a direct or indirect beneficial interest in such Shares or Warrant
and such Shares or Warrant may only be transferred, subject to compliance with
the legend set forth below.  THE SECURITIES
EVIDENCED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS
AMENDED.  SUCH SECURITIES MAY NOT BE SOLD, ASSIGNED, TRANSFERRED,
PLEDGED OR HYPOTHECATED UNLESS REGISTERED UNDER THE SECURITIES ACT OF 1933, AS
AMENDED, AND APPLICABLE STATE SECURITIES LAWS, OR PERF RECEIVES AN OPINION OF
COUNSEL, IN FORM AND SUBSTANCE REASONABLY SATISFACTORY TO PERF, THAT THE
SECURITIES EVIDENCED HEREBY MAY BE SOLD IN ACCORDANCE WITH AN EXEMPTION
THEREUNDER.

     

    Unless the shares on the common stock
issuable upon the exercise of the Warrant are registered under the Securities
Act of 1933, as amended (the “Act”), Inventek, will be
required to provide Perf with an investment letter and the certificates
representing such shares will contain a legend to the effect that Inventek may
not transfer, sell, pledge or hypothecate such shares unless the registration
provisions of the Act have been complied with or Perf has received an opinion of
counsel that such registration is not required.

     

    5.3           Binding
Agreement.  This Agreement shall be binding upon and inure to
the benefit of the Parties and their respective successors and assigns. Perf
shall not assign or otherwise transfer its rights under this Agreement without
the prior written consent of Inventek which shall not be unreasonably
withheld.

     

    5.4           [Survival.  All
promises, covenants, agreements, representations and warranties contained herein
shall survive the execution and delivery, and the subsequent termination, of
this Agreement.]?

     

    5.5           Notices.  Any
notice required or permitted to be given under this Agreement shall be given in
writing by hand delivery, commercial overnight courier or registered or
certified U.S. Mail, to the addresses below, and shall be deemed duly given upon
receipt, or if by registered or certified mail three (3) business days following
deposit in the U.S. Mail.  The parties hereto may from time to time
designate in writing other addresses expressly for the purpose of receipt of
notice hereunder.

     

    
      	
               
      

            	
              Perf

            

    

    
      	
               
      

            	
              12
      East 52nd Street

            

    

    
      	
               
      

            	
              4th
      Floor

            

    

    
      	
               
      

            	
              New
      York, NY 10022

            

    

    
      	
               
      

            	
              _________________________

            

    

     

    
    

    
      
         

      

      
        Page 4 of
6

        
          

        

      

      
         

      

    

    
      	 	Inventek
      Colloidal Cleaners
	
               
      

            	
              3901
      G Street, 2nd
      Floor

            

    

    
      	
               
      

            	
              Philadelphia,
      Pa. 19124

            

    

    
      	
               
      

            	
              ___________________________

            

    

     

    5.6           Severability. If any
provision of this Agreement is declared invalid or unenforceable, such provision
shall be deemed modified to the extent necessary and possible to render it valid
and enforceable. In any event, the unenforceability or invalidity of any
provision shall not affect any other provision of this Agreement, and this
Agreement shall continue in full force and effect, and be construed and
enforced, as if such provision had not been included, or had been modified as
above provided, as the case may be.

     

    5.7           Governing Law and
Jurisdiction.  This Agreement shall be governed and construed
for all purposes by the law of the State of New York without regard to the
conflict of law provisions thereof.  By executing this Agreement, the
Parties hereby consent to the personal jurisdiction of, and agree that any legal
action arising under this Agreement shall be instituted solely in, the federal
or state district courts situated in the State of New York.

     

    5.8           No
Waiver.  Any waiver or consent shall apply only to the specific
instance and for the specific purpose for which given.  No failure or
delay in exercising any right, power or remedy hereunder shall operate as a
waiver, nor shall any single or partial exercise of any such right, power or
remedy preclude any other or further exercise thereof or the exercise of any
other right, power or remedy hereunder.

     

    5.9           Signatures.  This
Agreement may be executed in two or more counterparts, each of which shall be
deemed an original, but all of which together shall constitute one and the same
instrument.  Facsimile signature pages shall be treated as original
signature pages.  By executing this Agreement, the signatory
represents and warrants he is duly authorized to execute this Agreement on
behalf of the Party for whom he signs.

     

    IN
WITNESS WHEREOF, the parties, by their duly authorized representatives, have
caused this Agreement to be executed as of the date first written
above.

    

    
      	
              Perf
      Go-Green Holdings, Inc.

            	
              Inventek
      Colloidal Cleaners LLC

            
	 	 
	
              By:
      ______________________

              Michael
      Caridi, COO

            	
              By:
      ______________________

              Yasmin
      Andrecola, President

            
	 
      	 
      
	 
      	
              Inventek
      Colloidal Cleaners LLC

            
	 
      	 
      
	 
      	
              By:
      ______________________

            
	 
      	
              Paul
      N. Andrecola, P.E., PhD, COO

            

    

    

    
      
         

      

      
        Page 5 of
6

        
          

        

      

      
         

      

    

    EXHIBITS
INTENIONALLY OMITTED

     

     

     

     

     

     

     

     

    Page 6 of
6a6005890ex10_1.htm

     

    Exhibit
10.1

    

    
      July 8,
2009

    

     

    The Frost
National Bank

    777 Main
Street, Suite 500

    Fort
Worth, Texas 76102

     

    
      	Attention:	
               

            	
              Mr.
      John S. Warren

            

    

     

    
      	
               
      

            	
              Re:

            	
              Fifth
      Amendment to Credit Agreement dated as of January 18, 2008 among Approach
      Resources Inc. (“Borrower”), the Frost National Bank and the institutions
      named therein (“Lenders”) and The Frost National Bank, as Agent
      (“Agent”)

            

    

    

    Gentlemen:

    

    Reference
is hereby made to that certain Credit Agreement dated as of January 18, 2008
among Approach Resources Inc., a Delaware corporation (“Borrower”), the Frost
National Bank, as Agent (“Agent”), and the Lenders that are signatory parties
hereto (the “Lenders”),  as amended by letter amendment dated as of
February 19, 2008, letter amendment dated as of May 6, 2008, third amendment
dated as of August 26, 2008, fourth amendment dated as of April 8, 2009 and as
amended as of the date hereof (as amended, the “Loan Agreement”).  All
capitalized terms herein shall have the meanings ascribed to them in the Loan
Agreement.

    

    Pursuant to this letter amendment (the
“Amendment”), Agent, Lenders and Borrower agree, effective as of the date
hereof, to amend the Loan Agreement according to the terms and provisions set
forth below.

    

    1.           Amendment to Section
1.   Defined Terms.

    

    Effective
as of the date hereof, the definition of “Maturity Date” is deleted in its
entirety and the following is substituted therefor:

    

     
“Maturity Date means July 31, 2011.”

    

    2.           Extension
Fee.  In consideration for Lenders’ agreement to extend the
Maturity Date, Borrower shall pay to Agent, for the ratable benefit of Lenders,
an extension fee in the amount of $250,000, calculated as 0.25% of the
Commitment Amount now in effect.

    

    3.           Ratification by
Guarantors.  Each Guarantor hereby ratifies and reaffirms all
of its obligations under its Guaranty Agreement (the “Guaranty”) of Borrower's
obligations under the Loan Agreement, as amended hereby.  Each
Guarantor also hereby agrees that nothing in this Amendment shall adversely
affect any right or remedy of Lenders under the Guaranty and that the execution
and delivery of this Amendment shall in no way change or modify its obligations
as guarantor under the Guaranty.  Although each Guarantor has been
informed by Borrower of the matters set forth in this Amendment and such
Guarantor has acknowledged and agreed to the same, such Guarantor understands
that Agent has no duty to notify such Guarantor or to seek such Guarantor’s
acknowledgment or agreement, and nothing contained herein shall create such a
duty as to any transaction hereafter.

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    4.          
Representations and
Warranties.  By executing this Amendment, Borrower hereby
represents, warrants and certifies to Lenders that, as of the date hereof, (a)
there exists no Event of Default or events which, with notice or lapse of time,
would constitute an Event of Default; (b) Borrower has performed and
complied with all agreements and conditions contained in the Loan Agreement or
the other Loan Documents which are required to be performed or complied with by
Borrower; and (c) the representations and warranties contained in the Loan
Agreement and the other Loan Documents are true in all respects, with the same
force and effect as though made on and as of the date hereof.

    

    5.           Confirmation and
Ratification.  Except as affected by the provisions set forth
herein, the Loan Agreement shall remain in full force and effect and is hereby
ratified and confirmed by all parties.  The execution, delivery and
effectiveness of this Amendment shall not, except as expressly provided herein,
operate as a waiver of any right, power or remedy of Lenders under the Loan
Agreement or the other Loan Documents.

    

    6.           Reference to Loan
Agreement.  Each of the Loan Agreement and the Loan Documents,
and any and all other agreements, documents or instruments now or hereafter
executed and delivered pursuant to the terms hereof or pursuant to the terms of
the Loan Agreement, as amended hereby, are hereby amended so that any reference
in the Loan Agreement, the Loan Documents and such other documents to the Loan
Agreement shall mean a reference to the Loan Agreement as amended
hereby.

     

    7.
         Multiple
Counterparts.  This Amendment may be executed in a number of
identical separate counterparts, each of which for all purposes is to be deemed
an original, but all of which shall constitute, collectively, one
agreement.  No party to this Amendment shall be bound hereby until a
counterpart of this Amendment has been executed by all parties hereto. 
Delivery of an executed counterpart of a signature page of this Amendment by
telecopy shall be effective as delivery of a manually executed counterpart of
this amendment.

     

    

    8.           Final
Agreement.  THE LOAN AGREEMENT, AS AMENDED BY THIS AMENDMENT,
AND ALL PROMISSORY NOTES AND OTHER LOAN DOCUMENTS EXECUTED PURSUANT THERETO OR
HERETO, REPRESENT THE FINAL AGREEMENT AMONG THE PARTIES AND MAY NOT BE
CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS OR SUBSEQUENT ORAL AGREEMENTS
OF THE PARTIES.  THERE ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN OR
AMONG ANY OF THE PARTIES.

    

    Please signify your acceptance to the
foregoing terms and provisions by executing a copy of this Amendment at the
space provided below.

     

     

    
      
        
          
            
              
                
                  
                    
                      
                        
                          	 	Very
      truly yours,
	 	 
	 
      	
                                  BORROWER:

                                
	 
      	 
      	 
      
	
                                    

                                	
                                  APPROACH
      RESOURCES INC.,

                                
	
                                    

                                	
                                  a
      Delaware corporation

                                
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	
                                  By:

                                	
                                   /s/ J. Ross Craft

                                
	 
      	 
      	
                                  J.
      Ross Craft, President and Chief Executive
  Officer

                                

                        

                      

                    

                  

                

              

            

          

        

      

    

    
 

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      
        
          
            
              
                
                  
                    
                      
                        
                          
                            
                              
                                
                                  
                                    	 
      	
                                            GUARANTORS:

                                          
	 
      	 
      	 
      	 
      
	 
      	
                                            APPROACH
      OIL & GAS INC.,

                                            a
      Delaware corporation

                                          
	 
      
	 
      	 
      	 
      
	 
      	
                                            By:

                                          	
                                            /s/ J. Ross Craft

                                          
	 
      	 
      	
                                            J.
      Ross Craft, President and Chief Executive Officer

                                          
	 
      	 
      	 
      	 
      
	 
      	
                                            APPROACH
      OIL & GAS (CANADA) INC.,

                                            an
      Alberta, Canada corporation

                                          
	 
      
	 
      	 
      	 
      	 
      
	 
      	
                                            By:

                                          	
                                            /s/ J. Ross Craft

                                          
	 
      	 
      	
                                            J.
      Ross Craft, President and Chief Executive Officer

                                          
	 
      	 
      	 
      	 
      
	 
      	
                                            APPROACH
      RESOURCES I, LP,

                                            a
      Texas limited partnership

                                          
	 
      
	 
      	 
      	 
      	 
      
	 
      	
                                            By:

                                          	 
      	
                                            Approach
      Operating, LLC,

                                          
	 
      	 
      	 
      	
                                            a
      Delaware limited liability company,

                                          
	 
      	 
      	 
      	
                                            its
      general partner

                                          
	 
      	 
      	 
      	 
      
	 
      	
                                            By:

                                          	 
      	
                                            Approach
      Resources Inc.,

                                          
	 
      	 
      	 
      	
                                            a
      Delaware corporation,

                                          
	 
      	 
      	 
      	
                                            its
      sole member

                                          
	 
      	 
      	 
      	 
      
	 
      	
                                            By:

                                          	 
      	
                                            /s/ J. Ross Craft

                                          
	 
      	 
      	 
      	
                                            J.
      Ross Craft, President and Chief Executive Officer

                                          
	 
      	 
      	 
      	 
      

                                  

                                

                              

                            

                          

                        

                      

                    

                  

                

              

            

          

        

      

    

     

     

     

    ACCEPTED
AND AGREED TO

    effective
as of the date and year

    first
above written:

    

    AGENT:

    

    THE FROST
NATIONAL BANK

     

    
      
        
          
            	
                    By:

                  	
                    /s/ John S. Warren

                  	 
      
	 
      	
                    John
      S. Warren, Senior Vice President

                  	 
      

          

        

      

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    LENDERS:

    

    
      
        
          	
                  THE
      FROST NATIONAL BANK

                	 
	 
      	 
      	 
      	 
	
                  By:

                	 
      	
                  /s/
      John S. Warren

                	 
	 
      	 
      	
                  John
      S. Warren, Senior Vice President

                	 

        

      

    

    

    

    
      
        
          
            
              	
                      JPMORGAN
      CHASE BANK, NA

                    	 
	 
      	 
      	 
      	 
	
                      By:

                    	 
      	
                      /s/
      Elizabeth Johnson

                    	 
	
                      Name:

                    	 
      	
                      Elizabeth
      Johnson

                    	 
	
                      Title:

                    	 
      	
                      Vice
      President

                    	 

            

          

        

      

    

     

     

    
      
        
          
            
              
                
                  
                    
                      
                        
                          
                            
                              
                                
                                  	
                                          FORTIS
      CAPITAL CORP.,

                                          
                                            a
      Connecticut corporation

                                          

                                        	 	 	 
	 
      	 
      	 
      	 	 	 
	
                                          By:

                                        	 
      	
                                          /s/
      Michele Jones

                                        	 	 By:	/s/
      Ilene Fowler
	
                                          Name:

                                        	 
      	
                                          

                                            Michele
      Jones

                                          

                                        	 	 Name:	Ilene
      Fowler
	
                                          Title:

                                        	 
      	
                                          Director

                                        	 	 Title:	Director

                                

                              

                            

                          

                        

                      

                    

                  

                

              

            

          

        

      

    

     

     

    
      
        
          
            
              	
                      KEYBANK
      NATIONAL ASSOCIATION

                    	 
	 
      	 
      	 
      	 
	
                      By:

                    	 
      	
                      /s/
      Todd Coker

                    	 
	
                      Name:

                    	 
      	
                      Todd
      Coker

                    	 
	
                      Title:

                    	 
      	
                      Assistant
      Vice President

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