Document:

ex10-2.htm

    Exhibit
      10.2

     

    Private
      & Confidential

     

    BROKER
      AGREEMENT

     

    SERVICES

     

    
      	A.	
              This
                agreement (the “Agreement”) is by and between Mark D. Persaud, as a
                California broker (the “Broker”), and OL Funding, Inc., a California
                corporation (the “Company”), whereby Broker agrees to serve as the
                representative Broker for Company.

            

    

     

    
      	B.	
              The
                parties agree that Broker may provide services outside of the scope
                of
                Real Estate. Company does not limit the work Broker performs for
                others.
                Services for Company are not required to be performed during any
                set
                hours, nor is there a guarantee of hours to be provided by Broker.
                Either
                party may terminate this Agreement as set forth
                herein.

            

    

     

    DECISION-MAKING
      CAPACITY OF BROKER – Broker agrees to generally defer to the President of
      Company with respect to all decision-making on behalf of Company.
      Notwithstanding the foregoing, Broker shall retain final decision-making
      authority with respect to any decision that may adversely affect Broker’s
      licensing status with the California Department of Real Estate (“DRE”). Company
      hereby agrees to promptly present to Broker all such matters that may adversely
      affect Broker’s license for discussion and resolution.

     

    TERM
      – The term of this Agreement will be for a period of one (1) year,
      commencing on August 1, 2007 and subject to the termination provisions provided
      herein. Notwithstanding the foregoing, this Agreement will not be effective
      until Broker is listed as Broker of Record for Company by the California
      DRE.

    

    BROKER
      COMPENSATION

     

    
      	A.
               	
              Company
                will pay to Broker a $600 fee per transaction, the total sum of which
                shall be based on the number of transactions closed and funded by
                the
                Company during any calendar month (the “Broker Fee”). The Broker Fee shall
                be paid to Broker by Company no later than five (5) business days
                following the close of each transaction. Additionally, notwithstanding
                anything in this agreement to the contrary, any transactions originated
                by
                the Broker, the Broker shall receive a 100% commission, less ordinary
                costs; including admin costs, processing costs, on transactions brought
                without any of Company’s leads, and Broker shall receive 40% commission on
                transactions brought in with Company’s leads - less ordinary costs;
                including admin costs, processing costs. Additional, compensation
                shall
                include $5,000 good faith start-up
                money, as well as, back-end compensation in the form of _____% of
                stock,
                before the company goes to, series A and series B, or
                IPO.

            

    

     

    TERMINATION

     

    
      	A.  	
              Notwithstanding
                anything to the contrary contained herein, this Agreement shall terminate
                immediately upon any of the following
                occurrences:

            

    

     

    
      	 	
              1.
                Any material breach of the Agreement by Company or Broker, subject
                to a
                five (5) day cure period upon written notice to the breaching
                party;

            

    

    
      	 	
              2.
                Any violation of applicable and governing real estate laws by Company
                or
                Broker; or

            

    

    
      	 	
              3.
                Dissolution of the Company; or

            

    

    
      	 	
              4.
                As of the effective date of the Agreement between Broker’s individual or
                corporate entity with Company; or

            

    

    
      	 	
              5.
                Death of the Broker.

            

    

     

    
      	B.
               	
              This
                Agreement may be terminated by either party upon thirty (30) days
                written
                notice to the other party. Upon termination of this Agreement, Broker
                shall be entitled to receive the Broker Fee on all loans closed and
                funded
                to Company as of the date of termination. Such Broker Fee shall be
                paid by
                Company no later than five (5) business days following the end of
                the
                termination calendar month.

            

    

    

    DEATH
      OF BROKER – Should Broker die during the term of this Agreement, estate of
      Broker shall be entitled to payments in the same manner as if Broker had
      terminated the Agreement as set forth above.

     

    INDEPENDENT
      CONTRACTOR

     

    A.
      Broker
      hereunder is an independent contractor and is responsible for his business
      license, taxes and insurance. It is understood that Broker is entitled to
      benefits available to employees, such as FICA taxes, state disability, state
      unemployment, workers compensation, including - pension and profit sharing
      plan
      contributions and other employment benefits or insurance available to the
      employees of Company.

     

     

    
      
        
        

      

      
        47

        
          

        

      

      
        
        

      

    

    

    B.
      It is
      hereby acknowledged that federal, state and employment taxes will not be
      withheld from the Broker’s Fee. Broker expressly assumes full responsibility for
      the payment of any and all applicable federal and state income and employment
      taxes. In the event that any taxing agency (federal, state or municipal)
      requires Company to pay any unpaid tax of Broker for an agreed upon justified
      reason, Broker agrees to pay such tax. In the event that Company is compelled
      to
      pay such tax for Broker, Broker shall reimburse such amount to Company within
      sixty (60) days of written notice to Broker by Company.

    

    C.
      Company shall be responsible for all of Company’s applicable business license,
      taxes and insurance, as well as any benefits available to employees, such as
      FICA taxes, state disability, state unemployment, workers compensation, pension
      or profit sharing plan contributions or any other employment benefits or
      insurance available to the employees of Company.

    

    D.
      Company expressly assumes full responsibility for the payment of any and all
      applicable federal and state income and employment taxes. In the event that
      any
      taxing agency (federal, state or municipal) requires Broker to pay any unpaid
      tax of Company for an agreed upon justified reason, Company agrees to pay such
      tax. In the event that Broker is compelled to pay such tax for Company, Company
      shall reimburse such amount to Broker within sixty (60) days of written notice
      to Company by Broker.

    

    LIQUIDATION
      OF COMPANY – Upon dissolution of Company for any reason, and during the
      course of the Company winding up its affairs, specifically the settling and
      closing of the Company's Business, the Company agrees to categorize Broker
      Fees
      owed to Broker as of the date of dissolution as a liability, to be handled
      in
      the manner consistent with other creditors of the Company with respect to the
      disposal and conveyance of the Company's property.

    

    EXPENSES
      OF THE COMPANY – Company shall be responsible for all expenses incurred by
      the Company, including, but not limited to, salaries, commissions, insurance,
      equipment and general office overhead. In no way shall the Company be entitled
      to reimbursement by the Broker for any such expenses. Additionally, Company
      shall be responsible for legal, filing and licensing costs.

     

    CONFIDENTIALITY
      AND NON-DISPARAGEMENT

    Company
      will not authorize or release advertising or publicity materials or give
      interviews concerning the existence or details of this Agreement without
      Broker's prior written approval. Nevertheless, after Broker has announced the
      association between Broker and Company or the association otherwise becomes
      public, Company may respond, discuss and comment that Broker is associated
      with
      Company in a favorable and positive and non-disparaging manner during any public
      events and/or interviews. It is specifically acknowledged and agreed that the
      amount of compensation paid to Broker hereunder must be held in strict
      confidence and under no circumstances be released publicly by Company, Company’s
      agent, employees or representatives, unless otherwise required by law. Such
      confidentiality is the essence of the Agreement. Further, during the Term and
      for a period of one (1) year thereafter, Company will not make or authorize
      any
      statements in derogation of Broker or Broker’s business or his representatives,
      nor shall Broker make or authorize any statements in derogation of
      Company.

    

    COMPLETION
      OF DRE FORMS – Company shall be responsible for completing and filing all
      forms required by the California Department of Real Estate, including, but
      not
      limited to, Form RE 201 and/or Form RE 204A. Additionally, Company shall be
      responsible for completing and filing all forms required by any State Forms
      that
      is required for Broker to conduct business within that State or Jurisdiction.
      The Broker shall have the opportunity to review and appropriately revise any
      such forms before filing.

     

    REPRESENTATIONS
      AND COVENANTS – Company represents and warrants to Broker that it is not a
      party to or bound by any presently effective agreement, contract, or
      understanding with any third party or entity that would in any way restrict
      or
      prohibit Company from undertaking or performing its obligations or the terms
      and
      conditions set forth in this agreement. Broker represents and warrants to
      Company that Broker is not a party to or bound by any presently effective
      agreement, contract or understanding, whether for employment or otherwise,
      with
      any third party or entity that would in any way restrict or prohibit Broker
      from
      undertaking or performing Broker’s obligations or the terms and conditions set
      forth in this Agreement. Notwithstanding anything to the contrary in this
      agreement, Broker’s services shall not restrict his work as an advisor,
      consultant, lawyer, investor, or in any such business capacity. It is understood
      that Broker owns, operates, and invests in several businesses. As such, each
      party holds harmless and defends the other party from liability for any such
      obligations or covenants set forth above.

    

    INDEMNIFICATION
      – Company agrees to indemnify Broker and hold Broker harmless from and
      against any liability, loss, damage, cost or expense including reasonable legal
      fees paid or incurred by Company by reason of any breach or threatened breach
      by
      Company or failure of the covenants, representations or warranties contained
      herein.

    

    ACCOUNTING
      – The Company shall maintain records in sufficient detail for the purpose
      of
      determining the amount of the Broker Fee and shall provide Broker with a written
      accounting each month. In the event of a termination of this Agreement, Broker
      shall have the right to inspect the Company accounting records for the limited
      purpose of verifying calculation of the Broker Fee, subject to such restrictions
      as Company may reasonably impose to protect the confidentiality of the records.
      Such inspections shall be made during reasonable business hours as may be set
      by
      Company at the main office.

    

    NOTICES
      - All notices shall be addressed to the respective party at the applicable
      address set forth immediately below (or such other address as the parties
      designate in writing from time to time). All notices and, other communications
      required or permitted hereunder shall be in writing and shall be deemed
      effectively given upon personal delivery, confirmation of telex or telecopy
      (to
      be followed by a confirmation copy sent by first class mail), or upon the fifth
      day following mailing by registered mail, postage prepaid, whichever shall
      be
      first, shall be deemed the date such notice is effective and addressed (a)
      if to
      Company at such address as listed below, or to Broker at such other address
      listed below at:

    
 

    
      
        
        

      

      
        48

        
          

        

      

      
        
        

      

    

     

    To
      Company:

    OL
      Funding, Inc. –

    9840
      Melvin Ave. Northridge, CA 91324

    Phone:
      818. 322.8612

    Fax:
      818.340.7026

    Attn:
      Robert Teaney, President

    To
      Broker:

    Mark
      D.
      Persaud

    3123
      Dona
      Susana Drive

    Studio
      City, CA 91604

    Phone:
      323.650.9323

    Fax:
      323.650.2226

    

    WAIVER
      - The waiver of any of the provisions, terms or conditions contained in
      this
      Agreement shall not be considered as a waiver of any of the other provisions,
      terms or conditions hereof.

    

    GOVERNING
      LAW - This Agreement has been entered into in the State of California and
      its validity, construction, interpretation and legal effect shall be governed
      by
      the laws of the State of California applicable to contracts entered into and
      performed within the State of California. In the event any provisions hereof
      shall for any reason be illegal or unenforceable then, and in such event, the
      same shall not affect the validity of the remaining portion and provisions
      hereof.

    

    SEVERABILITY
      - If any term or provision of this Agreement is held illegal, invalid or
      unenforceable, such illegality, invalidity or unenforceability shall not affect
      the legality, validity or enforceability of the remainder of this Agreement
      or
      any other provisions herein.

    

    RESOLUTION
      OF DISPUTES - Any controversy arising out of or related to this Agreement or
      the breach thereof shall be settled by arbitration in Los Angeles County,
      California, in accordance with the rules of the American Arbitration
      Association, and judgment entered upon the award rendered may be enforced by
      appropriate judicial action pursuant to the California Code of Civil Procedure.
      Both parties shall equally share any fees and expenses of the arbitrator, other
      tribunal fees and expenses, and each party shall bear its own attorney’s fees,
      any costs of producing witnesses and any other costs or expenses incurred by
      such party in connection therewith.

    

    HEADINGS
      - The descriptive headings of the sections of this Agreement have been
      included for convenience of reference and shall not to any extent have the
      effect of modifying, amending or changing the express terms and provisions
      of
      this Agreement.

    

    ENTIRE
      AGREEMENT - This Agreement contains the entire understanding of the parties
      hereto with respect to the transactions contemplated hereby and supersedes
      all
      prior arrangements or understandings with respect thereto. There are no
      restrictions, agreements, promises, warranties, covenants, or undertakings
      other
      than those expressly set forth herein. This Agreement cannot be modified,
      changed, amended and/or cancelled in any way except by an instrument in writing
      signed by both parties.

    

    COUNTERPARTS
      - This Agreement may be executed in two or more counterparts, each of which
      will be deemed to be an original copy of this Agreement and all of which, when
      taken together, will be deemed to constitute one and the same
      agreement.

     

     

    
      
        
        

      

      
        49

        
          

        

      

      
        
        

      

    

     

    IN
      WITNESS WHEREOF, the parties have executed and delivered this instrument as
      of
      the date first written above.

     

    BROKER:

     

    ____________________________________

    By:
      Mark
      D. Persaud Broker ID Number

     

    COMPANY:

     

    ____________________________________

    OL
      Funding, Inc.

    By:
      Robert Teaney, President

     

     

     

    
      
         

      

      
        50ex10-3.htm

    Exhibit
      10.3

     

    Share
      Purchase Agreement

    

    THIS
      SHARE PURCHASE AGREEMENT (this “Agreement”) made and entered into the 3rd day of
      January
      2007, by and among OL Funding, Inc., a Nevada corporation,
      (“Seller”), and  Exquisite Properties, Ltd. a
      Guernsey corporation (the “Purchaser”) and is made in light of the fact that
      Seller owns or has authority to issue and desires to sell, and Purchaser desires
      to purchase, those shares identified below in accordance with and subject to
      the
      terms and provisions of this Agreement, which fact is a material part
      hereof.

    

    NOW
      THEREFORE, and in consideration of good and valuable consideration, in hand
      paid, including, but not limited to the mutual promises set forth herein, the
      receipt and sufficiency of which is acknowledged by each party hereto, and
      intending to be legally bound, the Seller and Purchaser agree as
      follows:

    

    1.  Purchase
      and sale of shares. Seller shall issue and sell to Purchaser, and
      Purchaser shall purchase from Seller, up to One Hundred Million (100,000,000)
      authorized shares (“Shares”) of common stock of OL Funding,
      Inc., a Nevada corporation, in exchange for payment of the “Purchase
      Price” (as hereinafter defined).  This Agreement permits the Purchaser
      to purchase and Seller to sell all Shares for which payment is made in the
      manner set forth below through and including the date of the “Closing” (as
      hereinafter designated) whereupon the rights and obligations to purchase and
      sell additional Shares shall be terminated (except for such shares offered
      under
      any option or warrant as provided below).  Seller shall deliver the
      shares in the name of the Purchaser or Purchaser’s nominee and Purchaser shall
      deliver the Purchase Price together with such bill of sale and receipt as Seller
      deems necessary.

    

    2.  Purchase
      price. The “Purchase Price” for the Shares shall be Five Cents ($.05)
      per share for each and all shares purchased all payable in good funds, United
      States legal tender.  This price will be in force until December 31,
      2007, which date, for purposes herein, shall be the date of the “Closing,”
unless otherwise terminated by the Board of
      Directors.    Payments must be received by the Seller or an
      Escrowee acceptable to the parties on or prior to the date of the Closing.
      Purchaser shall have the right to make partial payments of the Purchase Price
      and all payments tendered shall be deemed paid as of the Closing but, for any
      partial payments made and tendered prior to the Closing, Seller shall issue
      the
      number of shares for which payment was tendered and received, all such issuances
      being as of the Closing.  In the event of any partial payments made
      prior to the date of the Closing, Purchaser shall have the right, but not the
      obligation, to deposit such funds in an escrow, in lieu of payment to the
      Seller, which escrow for the first $500,000 deposited, shall be with counsel
      for
      the Seller but, thereafter, on terms substantially similar, may be with an
      escrow agent in Great Britain and governed by British law provided the effect
      of
      such escrow is substantially the same as accomplished by the escrow entered
      into
      with counsel for the Seller and all such escrows shall be pursuant to written
      escrow agreements in form and content satisfactory to the
      parties.  All Shares delivered to an Escrowee shall be deemed issued
      and outstanding only upon payment by Purchaser but may be held by Escrowee
      prior
      to such payment for the protection of the Purchaser.  Seller shall
      have no obligation to deliver any of the Shares until payment for such Shares
      has been delivered to Seller or an escrow providing for irrevocable delivery
      to
      Seller.

    

    3.  Representations
      and Warranties.

    

       
      a.         Seller represents and
      warrants to Purchaser that (i) the Shares are authorized to be issued and,
      when
      issued, will be fully-paid and non-assessable; (ii) Seller has no knowledge
      of
      any adverse claims affecting the Shares, there are no notations of any adverse
      claims marked on the certificates for the Shares, and, Purchaser will acquire
      the Shares free and clear of any security interests, mortgage, adverse claims,
      liens, or encumbrances of any nature or description whatsoever, subject only
      to
      matters pertaining to the sale of securities generally including but not limited
      to the Securities Act of 1933, as amended, and the rules and regulations
      promulgated thereunder, or any state statute, rule, or regulation relating
      to
      the sale of securities (collectively, “Securities Laws”), and (iii) Seller has
      and will have full right, power, and authority to issue and sell, transfer,
      and
      deliver the Shares to Purchaser who will therefore accept the Shares subject
      to
      matters pertaining to the Securities Laws generally and, in the event that
      the
      Shares are not subject to a valid registration statement,

     

       
      b.         Purchaser hereby
      represents and warrants to Seller  that (i) Purchaser will acquire the
      Shares for investment and not with a view to the unauthorized distribution
      thereof; (ii) Purchaser is an institutional investor, able, knowledgeable about
      such investments and willing to assume the risks of acquiring the Shares, (iii)
      Purchaser will accept the Shares subject to such legends as required by the
      various Securities Laws; (iv) Purchaser is not a “U.S. Person” as that term is
      defined in Rule 902 (o) of Regulation S; (v) at the time of execution of this
      Agreement through the Closing, Purchaser was outside the United States; (vi)
      Purchaser is not purchasing the Shares on the behalf of any U.S. person and
      the
      sale of the Shares has not been prearranged with any buyer in the United States;
      and (vii) Purchaser will not at any time sell, exchange, transfer, or otherwise
      dispose of the Shares under circumstances that would constitute a violation
      of
      the Securities Laws provided that, if the Shares do not presently bear a legend,
      then Seller represents and warrants that such Shares may be transferred subject
      only to Securities Laws generally.  Each of the warranties,
      representations, and covenants contained in this Agreement by any party thereto
      shall be continuous and shall survive the Closing.

     

     

    
      
        
        

      

      
        51

        
          

        

      

      
        
        

      

    

    
 

    4.  Option.  In
      connection with the purchase as provided in this Agreement, Purchaser shall
      have
      the right and option, evidenced by a warrant delivered as of the Closing, to
      purchase an additional number of shares (which number is as calculated below)
      up
      to the total offered (100,000,000) at the purchase price of Five Cents ($.05)
      per share, which option shall expire on the earlier date of (A)the date on
      which
      one or more securities issued by the Company or any successor entity to the
      Company or entity which acquires all of the stock of the Company is traded
      on a
      national exchange or listed for sale on a national listing service such as
      NASD’s OTCbb or Pinksheets, LLC or (B) December 31, 2008.

    

    Purchaser
      may exercise this option, in whole or in part and may assign any part of such
      right to an entity controlled by or affiliated with
      Purchaser.   The number of shares to be available under this
      option shall be equal to the number of shares purchased by Purchaser as of
      the
      Closing such that, as to each of the shares acquired by Purchaser or a assignee
      acquiring an interest from Purchaser from the Company, Purchaser or Purchaser’s
      assignee shall receive a warrant for the purchase of an additional share of
      common stock, calculated on a pro rata basis, but limited such that the total
      number of shares offered under such warrant, when added to the total number
      of
      shares purchased as of the Closing shall not exceed 100,000,000.  By
      way of example, if Purchaser has purchased 6,000,000 shares of common stock
      as
      of the Closing, Purchaser would receive the warrant and therefore have the
      option for the purchase of an additional 6,000,000 shares but if Purchaser
      has
      purchased 60,000,000 shares of common stock as of the Closing, Purchaser would
      receive the warrant and therefore have the option for the purchase of an
      additional 40,000,000 shares as the total offered together with the total
      purchased is limited to 100,000,000 shares.  In no event shall this
      option be construed to permit purchase of more than 100,000,000 shares of stock
      under the option and as of the Closing.

    

    5.  Miscellaneous.  Each
      party shall have the right of specific performance and time is of the essence
      as
      to performance of each of the terms hereof.  All notices, requests,
      consents, and other communications required or desired under this Agreement
      shall be in writing and shall be mailed by certified mail, postage prepaid,
      or
      delivered personally to the address shown in the records of the official
      recorder’s office or registry in the jurisdiction in which the entity, to whom
      notice is to be given, is incorporated or organized or to such other address
      of
      which the addressee has notified the sender in writing.  Notices
      mailed in accordance with this section shall be deemed given when
      mailed.  All covenants and agreements contained in this Agreement by
      or on behalf of any of the parties hereto shall bind and inure to the benefit
      of
      his, her or its respective heirs, personal representatives, successors, and
      assigns, whether so expressed or not. No party to this Agreement may, however,
      assign his rights hereunder or delegate his obligations hereunder to any other
      person or entity without the express prior written consent of the other parties
      hereto. The section headings contained in this agreement are inserted as a
      matter of convenience and shall not be considered in interpreting or construing
      this agreement.  This agreement shall be construed in accordance with
      and governed by the laws of the State of Nevada.  This agreement,
      including any exhibits hereto, constitutes and contains the entire agreement
      of
      Purchaser and Seller with respect to the purchase and sale of the shares and
      supersedes any prior agreement by the parties, whether written or oral. The
      waiver of a breach of any term or condition of this agreement must be in writing
      signed by the party sought to be charged with such waiver, and such waiver
      shall
      not be deemed to constitute the waiver of any other breach of the same or of
      any
      other term or condition of this agreement. No modification of this agreement
      shall be valid unless in a written document signed by the parties
      hereto.  This agreement may be executed concurrently in two or more
      counterparts, any one or more of which may be executed by facsimile (which
      facsimile signatures shall be agreed to be binding and valid) each of which
      shall be deemed an original but all of which together shall constitute one
      and
      the same instrument.  The invalidity or unenforceability of any
      provision of this Agreement shall not affect the validity or enforceability
      of
      the remaining provisions.

    

    
      	
               

            	
              IN
                WITNESS WHEREOF, the Seller and Purchaser have executed this agreement
                as
                of the day and year first written
                above.

            

    

    

    
      	
              SELLER:

            	
              PURCHASER:

            
	 	
              OL
                Funding, Inc.,

            	 	
              Exquisite
                Properties, Ltd.

            
	 	 	 	  
               New
              Haven
	
              By:

            	 	 
              
              By:

            	
               

            
	 	
              Bryce
                M. Knight, President

            	
               

            	Principal
	 	 	 	
               

            

    

    

    Dated:                                                                   Dated:

     

     

     

    
      
         

      

      
        52

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00130-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00130-of-00352.parquet"}]]