Document:

Exhibit
4(d)(2)

 

GATEWAY
ENERGY CORPORATION

SUBSCRIPTION
AGREEMENT

 

Common
Stock

 

Gateway Energy Corporation

One Allen Center

500 Dallas Street, Suite 2615

Houston, Texas 77002

 

The undersigned John A. Raasch (“Subscriber”)
does hereby irrevocably agree to subscribe for and purchase 150,000 shares of
Gateway Energy Corporation Common Stock at $0.30 per share, or $45,000 (the “Subscription
Price”). The undersigned and Gateway Energy Corporation (the “Company”)
expressly agree that this Subscription Agreement shall be null and void unless
and until Josh H. Buterin places into a bank account of the Company the sum of
$115,000 pursuant to a Gateway Energy Corporation Convertible Promissory Note
dated September 27, 2004.  Upon the
payment of such amount by Josh H. Buterin, this Subscription Agreement shall be
fully enforceable, and payment of the Subscription Price into the same bank
account of the Company shall be required.

 

Upon payment of the Subscription Price, the
Company shall issue to the undersigned the number of Shares specified in the
first paragraph of this Subscription Agreement with an appropriate legend
indicating that the securities have not been registered under the Securities
Act of 1933 and are resalable either pursuant to an effective registration
statement or exemption from registration under Rule 144.

 

IN WITNESS WHEREOF, Subscriber has executed
this Subscription Agreement as of the 1st day of November, 2004.

 

 

	
   

  	
  SUBSCRIBER

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  /s/ John A.
  Raasch

  	
   

  
	
   

  	
  John A. Raasch

  
				

 

 

Accepted this 1st day of November, 2004.

 

GATEWAY ENERGY CORPORATION

 

 

	
  By:

  	
  /s/ John A.
  Raasch

  	
   

  	
   

  
	
   

  	
  John A. Raasch, PresidentExhibit
4(d)(3)

 

GATEWAY
ENERGY CORPORATION

SUBSCRIPTION
AGREEMENT

 

Common
Stock

 

Gateway Energy Corporation

One Allen Center

500 Dallas Street, Suite 2615

Houston, Texas 77002

 

The undersigned Charles A. Holtgraves (“Subscriber”)
does hereby irrevocably agree to subscribe for and purchase 50,000 shares of
Gateway Energy Corporation Common Stock at $0.30 per share, or $15,000 (the “Subscription
Price”). The undersigned and Gateway Energy Corporation (the “Company”)
expressly agree that this Subscription Agreement shall be null and void unless
and until Josh H. Buterin places into a bank account of the Company the sum of
$115,000 pursuant to a Gateway Energy Corporation Convertible Promissory Note
dated September 27, 2004.  Upon the
payment of such amount by Josh H. Buterin, this Subscription Agreement shall be
fully enforceable, and payment of the Subscription Price into the same bank
account of the Company shall be required.

 

Upon payment of the Subscription Price, the
Company shall issue to the undersigned the number of Shares specified in the
first paragraph of this Subscription Agreement with an appropriate legend
indicating that the securities have not been registered under the Securities
Act of 1933 and are resalable either pursuant to an effective registration
statement or exemption from registration under Rule 144.

 

IN WITNESS WHEREOF, Subscriber has executed
this Subscription Agreement as of the 1st day of November, 2004.

 

 

	
   

  	
  SUBSCRIBER

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  /s/ Charles
  A. Holtgraves

  	
   

  
	
   

  	
  Charles A. Holtgraves

  
				

 

 

Accepted this 1st day of November, 2004.

 

GATEWAY ENERGY CORPORATION

 

 

	
  By:

  	
  /s/ John A.
  Raasch

  	
   

  	
   

  
	
   

  	
  John A. Raasch, PresidentExhibit
10(h)

 

LICENSE AGREEMENT

 

 

                THIS LICENSE AGREEMENT (“Agreement”) dated
as of the 15th day of November, 2004, is made by the between Advanced Energy
Recovery, Inc., a Delaware corporation, (“AER”), Allen Drilling Acquisition
Company, a wholly-owned subsidiary of AER and a Nebraska corporation (“ADAC”),
Elgin Holdings, LLC, a Texas limited liability company (“Elgin”), Gateway
Energy Corporation, a Delaware corporation (“Gateway”), and Gateway Processing
Company, a Texas corporation (“GPC”) (AER, ADAC and Elgin are collectively
referred to as the “AER Parties”).

 

RECITALS

 

                WHEREAS, GPC holds the
exclusive U. S. license to technology developed by Advanced Extraction
Technologies, Inc., a Texas corporation (“AET”), which employs the
state-of-the-art, patented, absorption based technology to remove nitrogen and
other gasses from natural gas pursuant to a First Amended and Restated
Agreement to Develop Natural Gas Treatment Projects Using Mehra Gas Treating
Units, dated as of January 1, 2004 (the “AET Agreement”); and

 

                WHEREAS, the
AET Agreement authorizes GPC to license the Know-How and Patent Rights (as
those terms are defined in the AET Agreement) in the United States to design,
construct, build, license, operate, sell, install, assign, lease, rent, repair,
maintain, revise and revamp Mehra Gas Treating Units (as defined in the AET
Agreement); and

 

                WHEREAS, ADAC and
Gateway have entered into that certain agreement dated March 6, 2003 with
respect to a project known as the “Madisonville Project”, which project
utilizes the Know-How and Patent Rights licensed to GPC pursuant to the AET
Agreement; and

 

                WHEREAS, Elgin is a
company holding significant rights to high Nitrogen gas within the Madisonville
Field which would benefit from the processing available pursuant to Mehra Gas
Treating Units; and

 

                WHEREAS, the parties
hereto desire to enter into an agreement with respect to a joint participation
in future projects which will treat natural gas to remove impurities from the
gas to enable the gas to meet pipeline quality specifications (“High Nitrogen
Projects”); and

 

                WHEREAS, Gateway
desires due diligence assistance in connection with certain future Gateway
projects, and assistance in the preparation and filing of Gateway’s Securities
and Exchange Commission (“SEC”) reports, and AER has agreed to provide such
assistance.

 

 

 

 

                NOW, THEREFORE, in
consideration of the premises, and other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the parties agree as
follows:

 

1.               GPC hereby grants to the AER Parties a
non-exclusive license to the Know-How and Patent Rights (as those terms are
defined in the AET Agreement) in the United States to design, construct, build,
license, operate, sell, install, assign, lease, rent, repair, maintain, revise
and revamp one or more Mehra Gas Treating Units (as defined in the AET
Agreement) operated in the AMI (as defined below) at or near the current
Madisonville facility.  The party or
parties hereto that own and operate the Mehra Gas Treating Unit(s) shall be
responsible for the payment or pre-payment of all of the license fees payable
to AET pursuant to the license agreement arising from such dedicated gas.  However, AER shall advance to Gateway, as a
prepayment of earnings from its Madisonville operations $91,250, which equals
the sum Gateway requires to advance pay any or all fees due AET under Gateway
the AET Agreement.  Said funds shall be
made available to Gateway on or before December 15, 2004.  With respect to the license granted hereby,
the AER Parties agree to be bound to the terms and conditions of the AET
Agreement.

 

2.               The AER Parties agree that all natural gas
produced and owned by the AER Parties and their controlled affiliates, which
shall exceed 5,000 Mcf per day, whether by their own producing wells or by
unitized well within the AMI, shall be dedicated to and processed by Mehra Gas
Treating Units pursuant to Gateway’s exclusive license under the AET
Agreement.  “AMI” shall have the meaning
set forth in the First Amended and Restated Master Agreement (the “Master
Agreement”), dated September 12, 2003, by and among GPC, Redwood Energy
Production, L.P., and Hanover Compression Limited Partnership or any
amendments, modifications or replacements that may be in place from time to
time.

 

3.               The AER Parties agree that with respect to
the gathering, treatment and transportation of gas within the AMI which may be
performed by the parties hereto, the economic terms of such additional services
shall be substantially similar to those terms provided for in the agreements
currently in place for the Madisonville Field in the agreements contemplated by
the Master Agreement or any amendments, modifications or replacements that may
be in place from time to time.  All such
services shall be governed by definitive agreements to be executed by the
parties.

 

4.               Gateway hereby grants to AER, or its
designee, the option to participate (a) on a pari
passu basis with Gateway or its controlled affiliates in any High
Nitrogen Projects in which Gateway is a participant and in which the project
utilizes Gateway’s exclusive license under the AET Agreement, provided that AER
shall have a right, upon exercise of such option, to an interest in such
project equal to one-third (1/3) of the total interest that would otherwise
Gateway have therein,

 

 

 

and (b) on a pari
passu basis with any third party financing source in one-third (1/3)
of the financing of any High Nitrogen Projects in which Gateway is a
participant and in which the project utilizes Gateway’s exclusive license under
the AET Agreement.  To exercise this
option, AER must provide its pro rata amount of cash and other consideration in
the same form and subject to the same terms and conditions as Gateway provides in
such project.  This option shall expire
on November 15, 2007, unless Gateway has not presented eight (8) or more
applicable projects prior to such date, in which case this option shall
continue until immediately after the eight (8th) such option is thereafter
presented.  Gateway shall have the right
to designate up to two (2) projects each year which will not be subject to the
option granted to AER pursuant to this Section 4, and such designated projects
shall not count as one of the eight projects described in the preceding
sentence.  Notwithstanding the foregoing,
with respect to any project developed by Gateway and in which AET by virtue of
the AET Agreement elects to participate up to 25%, then AER and Gateway shall
each proportionately reduce their rights under this Section 4.  For purposes of this Section 4, a single High
Nitrogen Project shall mean a project with capacity of at least 4,000 Mcf/d,
and shall include any additions to the capacity of the plants or additional
plants included in the High Nitrogen project.

 

5.               AER will make available, on an “as needed
basis”, one or more of its employees, (Larry J. Horbach and/or Chuck A.
Holtgraves) to consult with and assist Gateway employees in the preparation and
filing of it’s SEC reports for a period of up to one (1) year from the date of
this Agreement. Gateway shall reimburse AER for all out-of-pocket expenses
incurred by such employees of AER;

 

 

6.               AER will provide due diligence service
assistance to Gateway on High Nitrogen Projects which may be potentially
developed by Gateway, on a project by project basis, for a period of three
years, from the date of this agreement. Gateway shall reimburse AER for all
out-of-pocket expenses incurred by AER in connection with this due diligence
effort;

 

7.               The parties agree, that except for the
RECITALS above, no further representations, warranties, or closing obligations
are required.

 

8.               This Agreement shall be governed by and
construed in accordance with the laws of the State of Texas.

 

9.               Any notice, request, consent or
communications (a “Notice”) shall be effective only if it is in writing and
delivered, with receipt confirmed, address as follows:

 

 

 

 

                    If to AER to:

 

 

 

 

 

 

 

                    If to ADAC and Elgin, to:

 

 

 

 

 

 

 

 

 

                                If
to Gateway and GPC, to:

 

                    Gateway Energy Corporation

                    500 Dallas Street, Suite 2615

                    Houston, TX 77002

                    Attn:  President

 

                    With a copy to:

 

                    Shook, Hardy & Bacon
L.L.P.

                    2555 Grand Boulevard

                    Kansas City, MO 64108

                    Attn:  Craig L. Evans

 

                IN WITNESS
WHEREOF, the parties hereto have entered in this Agreement as of the date first
herein above set forth.

 

	
   

  	
   

  	
   

  	
   

  	
  ADVANCED ENERGY RECOVERY, INC

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
  Charles A. Holtgraves

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
  President

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
  ALLEN DRILLING ACQUISITION COMPANY

  

 

 

 

	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
  Charles A. Holtgraves

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  

 

 

 

	
   

  	
   

  	
   

  	
   

  	
  ELGIN HOLDINGS, LLC

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
  Charles A. Holtgraves

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  GATEWAY ENERGY CORPORATION

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
  John Raasch

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
  President

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  GATEWAY PROCESSING COMPANY

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
  John Raasch

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
  President

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