Document:

wmindex10q43011x204_51911.htm

 

 Exhibit 10.23

 

Services Agreement

between

West Mountain Index Advisor, Inc.

and

Logic International Consulting Group, LLC

  

Exhibit 10.23 -- Page 1

  

This third party services agreement (the “Agreement”), made effective as of April 7, 2011 (the “Effective Date”) between Logic International Consulting Group, LLC (or “Logic”), a limited liability company with offices at 711 Fifth Avenue, New York, New York and West Mountain Index Advisor, Inc. aka Terra Mining Corporation or (“the “Company”), with its address at 2186 S. Holly Street, Suite 104, Denver, Co 80222.

	
  

	
1.

	
Intent of Agreement.

Whereas, the West Mountain Index Advisor, Inc. or (the “COMPANY”)  specializes in the exploration, planning, permitting, acquisition and development of metals mining operations and has secured the rights and leases to a high grade gold and silver mining operation in Alaska. The Company has secured the right to earn 80% of the project through $9.5 M of expenditure into the property.

Whereas, the COMPANY desires to have LOGIC to provide certain services (as hereinafter defined) and LOGIC agrees to provide those services on the terms set forth in this Agreement.

2.           Term.

This Agreement will commence on the Effective Date and continue in effect until April 6, 2013 (the “Initial Term”).  Either party may terminate this Agreement as of the end of any calendar month upon providing 90 days prior written notice to the other party.

After the expiration of the Initial Term, this Agreement will automatically renew for additional terms of 12 month periods (each an “Additional Term”), unless either party gives the other 30 days written notice of termination prior to the date of the expiration of the Initial Term or the relevant Additional Term.

3.           Termination for Cause.

In addition, COMPANY may at any time during the term of this Agreement, by written notice, immediately terminate the retention of LOGIC for cause, the cause to be specified in the notice.  For purposes of this Agreement, “cause” shall mean (i) any willful misconduct of LOGIC, its employees, agents or subcontractors including, without limitation, misappropriation of funds or property of COMPANY or any of its affiliates, securing or attempting to secure personally any profit in connection with any transaction entered into on behalf of COMPANY or any of its affiliates, or any willful and intentional act having the effect of injuring the reputation, business, or business relationships of COMPANY or any of its affiliates; (ii) willful failure, neglect, or refusal to perform LOGIC’s duties hereunder; (iii) breach of any material covenants contained in this Agreement; or (iv) charge of felony of LOGIC, its employees, agents or subcontractors providing services hereunder or conviction of LOGIC, its employees, agents or subcontractors providing services hereunder (or nolo contendere plea) in connection with a felony or misdemeanor.  Termination for cause shall be effective upon the giving of such notice.  Any such termination shall be without any liability owed to LOGIC, except that LOGIC shall be entitled to receive any pro rata portion of earned and unpaid fees accrued through the date of termination pursuant to this Section.

  

Exhibit 10.23 -- Page 2

  

	
  

	
3.

	
Consulting Fee.

 COMPANY shall pay LOGIC as follows:

	
  

	
i)

	
Monthly Retainer: COMPANY will pay LOGIC a monthly fee of $40,000 per month for each month during the Initial Term and during any Additional Term and will be effective with the 1st month’s payment due upon the execution of this agreement by both parties.  It is further agreed that the initial 1st month payment will be discounted to $30,000.00.

	
  

	
ii)

	
Additional Fees: In addition to the monthly retainer, COMPANY may incur additional fees based on services performed by LOGIC and agreed to in writing by COMPANY from time to time.

	
  

	
iii)

	
Expenses: LOGIC will submit invoices for any expenses that has incurred on behalf of COMPANY for which it seeks reimbursement.  Expenses will not be incurred without the prior permission of COMPANY or its designee.

	
  

	
iv)

	
Invoices: LOGIC will submit an invoice monthly to COMPANY and COMPANY will remit payment for the Consulting Fees and expenses submitted within 15 business days of receipt of the invoice.

It is acknowledged and understood that the foregoing compensation is in addition to the Warrant issued to Logic pursuant to the terms of the Initial Agreement.

5.           Dedication of Time for Services.

LOGIC will expend such amount of time as to reasonably achieve services provided for in this Agreement.

	
  

	
6.

	
Services.

LOGIC services shall consist of but not be limited to the following:

 

	
·

	
Consulting services to the CEO, board of directors and the executive management;

	
·

	
Assistance to senior line and executive management on company building;

	
·

	
Review of the COMPANY’s financial models and projections;

	
·

	
Assistance with functional operation, corporate governance matter;

	
·

	
Hedging strategy development;

	
·

	
Introduction to qualified strategic partners and professional service providers (e.g. ., public accounting firms, auditors, legal counsel, tax professionals,  financial advisors, brokers and/or banking relationships);

	
·

	
Coordination of Investor Relations functions.

  

Exhibit 10.23 -- Page 3

  

7.         Non-Circumvention:

The COMPANY agrees not to circumvent, avoid, bypass LOGIC, to avoid payment of fees provided however, for the avoidance of doubt, LOGIC acknowledges that nothing herein shall obligate the COMPANY to enter into any agreement with parties introduced by LOGIC for a period of twelve months after the termination of this Agreement.  The decision to enter into any agreement with third parties introduced by LOGIC shall be in the sole and exclusive discretion of the COMPANY.

 

8.           Delivery Method.

LOGIC will provide Services to COMPANY including but not limited to, electronic files, e-mail and telephone consultations, when applicable. COMPANY does not assume any responsibility or liability relating to or arising out of any services rendered by LOGIC.

9.       No Promotion.

Each party agrees that it will not, without the prior written consent of the other in each instance, (a) use in advertising, publicity, or otherwise the name of any other party or its affiliates, or any partner or employee of the other, nor any trade name, trademark, trade device, service mark, symbol or any abbreviation, contraction or simulation thereof owned by the other or its affiliates, or (b) represent, directly or indirectly, that any product or any service provided by such party has been approved or endorsed by the other. This provision shall survive termination of this Agreement.

10.        Confidential Information of COMPANY.

(a)           In the course of providing services hereunder, LOGIC will have access to confidential financial and business records, data and customer lists, and other proprietary information owned by COMPANY and used in the course of its business.  Information that is confidential and proprietary to COMPANY and its affiliates includes, without limitation, all customer pricing information, vendor and procurement information, products, product information, new product development, client lists, business prospects and opportunities, all other information about any customer to whom COMPANY, its affiliates or their respective businesses provided services and any other confidential or proprietary information of COMPANY and its affiliates (hereinafter collectively, “Confidential Information”).  LOGIC, during the term of this Agreement and thereafter, shall not use, divulge, furnish or make accessible to anyone (other than to an authorized representative of COMPANY or unless required in the ordinary course of business on behalf of COMPANY) any knowledge or information with respect to any Confidential Information.  All records, files, documents and the like relating to COMPANY’s business which LOGIC shall prepare, use, or come into contact with shall remain COMPANY’s sole property.

  

Exhibit 10.23 -- Page 4

  

(b)           LOGIC acknowledges and agrees that any violation or threatened violation of the foregoing covenants in this Section 10 would cause irreparable injury to COMPANY and its business, that the remedy at law for any breach by LOGIC of such covenants would be inadequate, and that COMPANY shall be entitled, in addition to and not in limitation of any other rights or remedies available at law or in equity, to temporary and/or permanent injunctive relief upon application to a court (whether prior to or after the commencement of an arbitration proceeding relating to this Agreement) without the necessity of proving actual damages.

11.         Confidential Information of LOGIC.

(a)           In the course of providing services hereunder, COMPANY will have access to confidential financial and business records, data and customer lists, and other proprietary information owned by LOGIC and used in the course of its business.  Information that is confidential and proprietary to LOGIC and its affiliates includes, without limitation, in respect of clients brought to COMPANY by LOGIC: contact information, personnel records, investment history and strategies, and financial statements and records (“Confidential Information”).  COMPANY, during the term of this Agreement and thereafter, shall not use, divulge, furnish or make accessible to anyone (other than to an authorized representative of LOGIC or unless required in the ordinary course of business on behalf of LOGIC) any knowledge or information with respect to any Confidential Information.  All records, files, documents and the like relating to LOGIC’s business which COMPANY shall prepare, use, or come into contact with shall remain LOGIC’s sole property.

(b)           The parties to this Agreement intend that the covenants contained in this Section 10 shall be construed as a series of separate covenants, one for each state, county and city included within the United States, including the District of Columbia, and one for each country in which clients of LOGIC shall be located and, except for geographic coverage, each such separate covenant shall be deemed identical.  The parties agree that the covenants deemed included in such Section 11, taken as a whole, are reasonable in their temporal and geographic coverage, and neither party shall raise any issue of temporal or geographic reasonableness in any proceeding to enforce any such covenant.

(c)           COMPANY acknowledges and agrees that any violation or threatened violation of the foregoing covenants in this Section 11 would cause irreparable injury to LOGIC and its business, that the remedy at law for any breach by COMPANY of such covenants would be inadequate, and that LOGIC shall be entitled, in addition to and not in limitation of any other rights or remedies available at law or in equity, to temporary and/or permanent injunctive relief upon application to a court (whether prior to or after the commencement of an arbitration proceeding relating to this Agreement) without the necessity of proving actual damages.

  

Exhibit 10.23 -- Page 5

  

12.    Entire Agreement.

This Agreement sets forth the entire agreement and understanding between the parties and supersedes all prior discussions, agreements and understandings of every kind and nature between them concerning the subject matter hereof (excluding any rights and agreements in respect of the Warrant issued to LOGIC by  the COMPANY pursuant to the Initial Agreement).  No variation hereof shall be deemed valid unless in writing and signed by the party to be bound thereby and no discharge of the terms hereof shall be deemed valid unless by full performance by the parties or by writing signed by the parties.  No waiver by a party of any breach by the other party of any provision or condition of this Agreement to be performed by it shall be deemed a waiver of the breach of a similar or dissimilar provision or condition at the same time or any prior or subsequent time or of the provision or condition itself.

13.       Notices.

All notices relating to this Agreement shall be in writing and shall be deemed to have been given at the time when delivered personally, against appropriate receipt, or when mailed in any general or branch office of the United States Postal Service, by registered or certified mail, postage prepaid, return receipt requested, addressed to the address of the other party as set forth on the signature page hereof, or to such changed address as the other party may fix by notice; provided, however, that any notice of change of address shall be effective only upon receipt.

	
  

	
14.

	
Assignment.

This Agreement shall inure to the benefit of and be binding upon COMPANY, its successors and assigns, including without limitation any corporation which may acquire all or substantially all of COMPANY’s assets and business or with or into which COMPANY may be consolidated or merged.  The obligations of LOGIC hereunder may be delegated only to another party controlled by or under common control with LOGIC upon COMPANY’s consent to the assignment upon receiving no less than five days

Notice of the proposed assignment, which consent shall not be unreasonably withheld by COMPANY.

 

 

	
  

	
15.

	Enforceability.

    

If any provision of this Agreement or the application of any provision of this Agreement is declared to be illegal, invalid or otherwise unenforceable by a court of competent jurisdiction, the remainder of this Agreement shall not be affected except to the extent necessary to delete such illegal, invalid or unenforceable provision, unless such declaration shall substantially impair the benefit of the remaining portions of this Agreement.

  

Exhibit 10.23 -- Page 6

  

 

	
  

	
16.

	
Independent Contractor.

 

 

COMPANY and LOGIC hereby acknowledge that LOGIC is entering into this Agreement as an independent contractor and that this Agreement does not create and shall not be construed to create a relationship of principal and agent, joint ventures, co-partners, employer and employee, master and servant, or any other similar relationship between COMPANY and LOGIC, its employees, agents or subcontractors.  LOGIC’s employees, agents and subcontractors shall not be entitled to any employment rights or benefits of COMPANY.  LOGIC shall not use, and shall keep its employees, agents, and/or subcontractors from using, the names of COMPANY and its affiliates in any sales or marketing publication or advertisement. LOGIC is not registered with the Securities and Exchange Commission in any capacity and it will not seek to act in the capacity of a broker-dealer in respect of the COMPANY or its securities as part the services provided to the COMPANY under this Agreement.  Under no circumstances will LOGIC, its employees, agents or subcontractors have any authority to legally bind COMPANY or any of its affiliates or otherwise enter into agreements on behalf of COMPANY or any of its affiliates.

	
  

	
17.

	
Choice of Law.

This Agreement shall be governed by the laws of the State of New York governing contracts made and to be performed in such State without giving effect to principles of conflicts of laws. The parties agree that any suit, action or proceeding based on, arising out of or relating to this Agreement shall be brought in any federal or state court of competent jurisdiction in New York County, New York, including the Supreme Court of the State of New York and the United States District Court for the Southern District of New York and not in or before any other court, agency or tribunal. Each party hereby irrevocably consents to the exercise of personal jurisdiction over such party by the respective foregoing forum courts, agrees that venue shall be proper in such forum courts, and irrevocably waives and releases any and all defenses based on lack of personal jurisdiction, improper venue or forum non conveniens.

[Signature Page Follows]

  

Exhibit 10.23 -- Page 7

  

IN WITNESS WHEREOF, the undersigned have hereunto set their hands effective as of the date fist set forth above.

  Logic International Consulting Group, LLC

	
 By:

	
Kevin Cassidy

	  	 /s/ Kevin Cassidy
	  	
CEO and Partner

	  	
Print Name & Title

	  	  
	
 

West Mountain Index Advisor, Inc.

	  	  
	  	  
	  	  
	
By:

	
Gregory Schifrin

	  	/s/ Gregory Schifrin
	  	
CEO

	  	
Print Name & Title

 

 

 

Exhibit 10.23 -- Page 8wmindex10q43011x205_51911.htm

 

 

Exhibit 10.24

 

THIS WARRANT AND THE SECURITIES ISSUABLE UPON EXERCISE OF THIS WARRANT HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR SECURITIES LAWS OF ANY STATE OF THE UNITED STATES AND MAY NOT BE SOLD, OFFERED FOR SALE, ASSIGNED, TRANSFERRED OR OTHERWISE DISPOSED OF, UNLESS REGISTERED PURSUANT TO THE PROVISIONS OF THE SECURITIES ACT OR AN OPINION OF COUNSEL IS OBTAINED STATING THAT SUCH DISPOSITION IS IN COMPLIANCE WITH AN AVAILABLE EXEMPTION FROM SUCH REGISTRATION AND IN COMPLIANCE WITH ANY APPLICABLE STATE SECURITIES LAWS.

 

April 7, 2011

 

 

Warrant for the Purchase of Common Stock

(Void if not exercised on or before April 6, 2014)

No. W-26

Holder: Logic International

 

FOR VALUE RECEIVED, this Warrant is hereby issued by West Mountain Index Advisors, Inc., a Colorado corporation (the “Company”), to the Logic International Consulting Group LLC, a New York LLC, (the “Holder”).  Subject to the provisions of this Warrant (“Warrant”), the Company hereby grants to Holder the right to purchase 1,200,000 shares of the Company’s common stock, par value $.001 per share (“Common Stock”), at US $1.00 per share (“Exercise Price”) during the period from issuance of this Warrant through April 6, 2014.

 

The Holder agrees with the Company that this Warrant is issued, and all the rights hereunder shall be held, subject to all of the conditions, limitations and provisions set forth herein.

 

1.           Exercise of Warrant.  Subject to the terms and conditions set forth herein, the Holder may exercise this Warrant on or after April 8, 2011 and no later than April 6, 2014. If the underlying Shares are registered on Form S-1 or S-3, and for so long as the underlying Shares continue to be so registered, the Company, in its sole discretion, may require the Holder to exercise all or part of the Warrant if the close price is $4.00 per share for five trading days. To exercise this Warrant the Holder shall present and surrender this Warrant to the Company at its principal office, with the Warrant Exercise Form, attached hereto as Appendix A, duly executed by the Holder and accompanied by payment in cash or by check, payable to the order of the Company, of the aggregate Exercise Price for the total aggregate number of securities for which this Warrant is exercised or a cashless exercise at the sole decision of the Holder.  The Common Stock deliverable upon such exercise, and as adjusted from time to time, are hereinafter referred to as “Warrant Stock.”

 

Upon receipt by the Company of this Warrant, together with the executed Warrant Exercise Form and payment of the Exercise Price, if any, for the securities to be acquired, in

 

  

Exhibit 10.24 -- Page 1

  

proper form for exercise, and subject to the Holder’s compliance with all requirements of this Warrant for the exercise hereof, the Holder shall be deemed to be the holder of record of the Warrant Stock issuable upon such exercise, notwithstanding that the stock transfer books of the Company shall then be closed or that certificates representing such securities shall not then be actually delivered to the Holder; provided, however, that no exercise of this Warrant shall be effective, and the Company shall have no obligation to issue any Warrant Stock to the Holder upon any attempted exercise of this Warrant, unless the Holder shall have first delivered to the Company, in form and substance reasonably satisfactory to the Company, appropriate representations so as to provide the Company reasonable assurances that the securities issuable upon exercise may be issued without violation of the registration requirements of the Securities Act and applicable state securities laws, including without limitation representations that the exercising Holder is an “accredited investor” as defined in Regulation D under the Securities Act and that the Holder is familiar with the Company and its business and financial condition and has had an opportunity to ask questions and receive documents relating thereto to his reasonable satisfaction.

 

2.           Reservation of Shares.  The Company will reserve for issuance and delivery upon exercise of this Warrant all shares of Warrant Stock.  All such shares shall be duly authorized and, when issued upon such exercise, shall be validly issued, fully paid and non-assessable and free of all preemptive rights.

 

3.           Assignment or Loss of Warrant.  Subject to the transfer restrictions herein (including Section 6), this Warrant is fully assignable by the Holder hereof and upon surrender of this Warrant to the Company or at the office of its stock transfer agent, if any, with the Assignment Form, attached hereto as Appendix B, duly executed and funds sufficient to pay any transfer tax, the Company shall, without charge, execute and deliver a new Warrant or Warrants in the name of the assignee(s) named in such instrument of assignment and if applicable a new Warrant to Holder with respect to any portion of the Warrant not being assigned and this Warrant shall promptly be canceled.  Upon receipt by the Company of evidence reasonably satisfactory to it of the loss, theft, destruction or mutilation of this Warrant, and of reasonably satisfactory indemnification by the Holder, and upon surrender and cancellation of this Warrant, if mutilated, the Company shall execute and deliver a replacement Warrant of like tenor and date.

 

4.           Rights of the Holder.  The Holder shall not, by virtue hereof, be entitled to any rights of a stockholder in the Company, either at law or in equity, and the rights of the Holder are limited to those expressed in this Warrant.

 

5.           Adjustments.

 

(a)           Adjustment for Recapitalization.  If the Company shall at any time after the date hereof subdivide its outstanding shares of Common Stock by recapitalization, reclassification or split-up thereof, or if the Company shall declare a stock dividend or distribute shares of Common Stock to its shareholders, the number of shares of Common Stock subject to this Warrant immediately prior to such subdivision shall be proportionately increased, and if the Company shall at any time after the date hereof combine the outstanding shares of Common Stock by recapitalization, reclassification or combination thereof, the number of shares of Common Stock subject to this Warrant immediately prior to such combination shall be

 

(b)  proportionately decreased. In either case, the exercise price shall also be proportionately adjusted.

 

  

Exhibit 10.24 -- Page 2

  

 

 

(c)           Adjustment for Reorganization, Consolidation, Merger, Etc.  If at any time after the date hereof the Company has a Change in Control, the Holder agrees that, either (a) Holder shall exercise its purchase right under this Warrant and such exercise will be deemed effective immediately prior to the consummation of such Change in Control or (b) if the Holder elects not to exercise the Warrant, this Warrant will not expire upon the consummation of the Change of Control but shall automatically convert to a warrant to acquire such securities as Holder would have acquired if the Warrant had been exercised in its entirety immediately prior to the consummation of such Change in Control.. For purposes of this Warrant, a “Change in Control” shall be deemed to occur in the event of a change in ownership or control of the Company effected through any of the following transactions: (i) the acquisition, directly or indirectly, by any person or related group of persons (other than the Company or a person that immediately before the Change of Control directly or indirectly controls, or is controlled by, or is under common control with, the Company) of beneficial ownership (within the meaning of Rule 13d-3 of the Securities Exchange Act of 1934, as amended) of outstanding securities possessing more than fifty percent (50%) of the total combined voting power of the Company’s outstanding securities; or (ii) the sale, transfer or other disposition of all or substantially all of the Company’s assets; or (iii) the consummation of a merger or consolidation of the Company with or into another entity or any other corporate reorganization, if more than fifty percent (50%) of the combined voting power of the continuing or surviving entity’s securities outstanding immediately after such merger, consolidation or other reorganization is owned by persons who were not stockholders of the Company immediately prior to such merger, consolidation or other reorganization.

 

(d)           Certificate as to Adjustments.  The adjustments provided in this Section 5 shall be interpreted and applied by the Company in such a fashion so as to reasonably preserve the applicability and benefits of this Warrant (but not to increase or diminish the benefits hereunder).  In each case of an adjustment in the number of shares of Common Stock or other securities receivable on the exercise of the Warrant, the Company at its expense will promptly compute such adjustment in accordance with the terms of the Warrant and prepare a certificate executed by two executive officers of the Company setting forth such adjustment and showing in detail the facts upon which such adjustment is based. The Company will mail a copy of each such certificate to each Holder.

 

(e)           Notices of Record Date, Etc.  In the event that:

 

(i)           the Company shall declare any dividend or other distribution to the holders of Common Stock, or authorizes the granting to Common Stock holders of any right to subscribe for, purchase or otherwise acquire any shares of stock of any class or any other securities; or

 

(ii)           the Company has a Change in Control; or

 

(iii)           the Company authorizes any voluntary or involuntary dissolution, liquidation or winding up of the Company, then, and in each such case, the Company shall mail

 

(iv)    or cause to be mailed to the holder of this Warrant at the time outstanding a notice specifying, as the case may be, (a) the date on which a record is to be taken for the purpose of such dividend, distribution or right, and stating the amount and character of such dividend, distribution or right, or (b) the date on which such reorganization, reclassification, consolidation, merger, conveyance, dissolution, liquidation or winding up is to take place, and the time, if any is to be fixed, as to which the holders of record of Common Stock shall be entitled to exchange their shares of Common Stock for securities or other property deliverable upon such reorganization, reclassification, consolidation, merger, conveyance, dissolution, liquidation or winding up.  Such notice shall be mailed at least 20 days prior to the date therein specified.

 

  

Exhibit 10.24 -- Page 3

  

 

 

(f)           No Impairment.  The Company will not, by any voluntary action, avoid or seek to avoid the observance or performance of any of the terms to be observed or performed hereunder by the Company, but will at all times in good faith assist in the carrying out of all the provisions of this Section 6 and in the taking of all such action as may be necessary or appropriate in order to protect the rights of the Holder of this Warrant against impairment.

 

(f)           Cash Dividends.  No adjustment pursuant to this Warrant shall be made in respect of any dividend payable in cash provided that notice of such dividend has been given in accord with section 5(d) at least 15 days prior to the record date for the payment of such dividend.

 

6.           Transfer to Comply with the Securities Act.  This Warrant and any Warrant Stock may not be sold, transferred, pledged, hypothecated or otherwise disposed of except as follows:  (a) to a person who, in the opinion of counsel to the Company, is a person to whom this Warrant or the Warrant Stock may legally be transferred without registration and without the delivery of a current prospectus under the Securities Act with respect thereto and then only against receipt of an agreement of such person to comply with the provisions of this Section 6 with respect to any resale or other disposition of such securities; or (b) to any person upon delivery of a prospectus then meeting the requirements of the Securities Act relating to such securities and the offering thereof for such sale or disposition, and thereafter to all successive assignees.

 

7.           Registration Rights.  The Company agrees it shall within ninety days following the signing of the Warrant, file a registration statement with respect to the Warrant Stock at the Company’s expense on Form S-1 or S-3 (to the extent the Company is eligible to file on Form S-3), for the re-sale of the Warrant Stock under the Securities Act by the Holder  (the “Registration Statement”).  The Company will use its reasonable efforts to cause such Form S-1 or S-3 Registration Statement to become effective within ninety (930) days from the initial filing thereof (“Effective Date”).

 

8.           Legend. Unless the Warrant Stock has been registered under the Securities Act on Form S-1 or Form S-3, upon exercise of this Warrant and the issuance of any of the shares of Warrant Stock, all certificates representing shares shall bear on the face thereof substantially the following legend:

 

THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE BEEN ACQUIRED BY THE HOLDER FOR ITS OWN ACCOUNT, FOR INVESTMENT PURPOSES AND NOT WITH A VIEW TO THE DISTRIBUTION OF SUCH SECURITIES.  THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), OR ANY APPLICABLE STATE SECURITIES LAWS AND MAY NOT BE SOLD OR OTHERWISE TRANSFERRED EXCEPT (I) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE ACT AND COMPLIANCE WITH SUCH STATE SECURITIES LAWS, (II) IN COMPLIANCE WITH RULE 144 UNDER THE ACT AND APPLICABLE STATE SECURITIES LAWS, OR (III) UPON THE DELIVERY TO THE COMPANY OF AN OPINION OF COUNSEL OR OTHER EVIDENCE SATISFACTORY TO THE COMPANY THAT SUCH REGISTRATION AND/ OR COMPLIANCE IS NOT REQUIRED.

 

9.           Notices.  All notices required hereunder shall be in writing and shall be deemed given when telegraphed, e-mailed, delivered personally or within two days after mailing when mailed by certified or registered mail, return receipt requested, to the Company or the Holder, as the case may be, for whom such notice is intended, if to the Holder, at the e-mail or mailing address of record of such party as most recently provided in writing by such party to the other.  The initial addresses of the parties are set forth below.

 

10.           Applicable Law.  The Warrant is issued under and shall for all purposes be governed by and construed in accordance with the laws of the State of Colorado, without regard to the conflict of laws provisions of such State.

 

IN WITNESS WHEREOF, the Company has caused this Warrant to be signed on its behalf, in its corporate name, by its duly authorized officer, all as of the day and year first above written.

 

WestMountain Index Advisor, Inc.

 

 

                                                                        /s/ Gregory Schifrin

By: Gregory Schifrin

2186 S. Holly St., Suite 104, Denver, CO 80222

 

Holder: Logic Int.

Address:

  

Exhibit 10.24 -- Page 4

  

Appendix A

WARRANT EXERCISE FORM

 

The undersigned hereby irrevocably elects to (i) exercise the attached Warrant to purchase __________ shares of the Common Stock of WestMountain Advisor, Inc., a Colorado corporation (the “Company”), pursuant to the provisions of Section 1 of the attached Warrant, and hereby makes payment of $__________ in payment therefore.  If the Warrant is not being exercised in full, the undersigned hereby instructs the Company to issue a Warrant or Warrants for the unexercised portion of the Warrant and send it to the undersigned at the address stated below.  The undersigned’s execution of this form constitutes the undersigned’s agreement to all the terms of the Warrant and to comply therewith.

 

________________________________________________________

Signature

 

Print Name:  ______________________________________________

 

________________________________________________________

Signature, if jointly held

 

Print Name:  ______________________________________________ 

 

Date:  ___________________________________________________                                                                        

 

  

Exhibit 10.24 -- Page 5

  

Appendix B

 

ASSIGNMENT FORM

 

FOR VALUE RECEIVED_____________________________ (“Assignor”) hereby sells, assigns and transfers unto _______________________________ (“Assignee”) all of Assignor’s right, title and interest in, to and under Warrant No. W-XX issued by WestMountain Index Advisor, Inc., dated April 1, 2011.

 

NOTE:  If only a portion of the Warrant rights are to be assigned and transferred, adjust the above statement and the balance of this form accordingly.

 

DATED: _________________

 

ASSIGNOR:

________________________________________________________

Signature

Print Name:  ______________________________________________

 

 

________________________________________________________

Signature, if jointly held

Print Name:  ______________________________________________                                                                        

 

ASSIGNEE:

 

The undersigned agrees to all of the terms of the Warrant and to comply therewith.

________________________________________________________

Signature

Print Name:  ______________________________________________

 

________________________________________________________

Signature, if jointly held

Print Name:  ______________________________________________ 

 

 

 

 

 

Exhibit 10.24 -- Page 6

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