Document:

ex1014k93010.htm

    Exhibit
10.14

    Amended
and Restated Salary Continuation Agreement entered

    into
by Home Federal Bank with R. Shane Correa

    

    HOME
FEDERAL BANK

    SALARY
CONTINUATION AGREEMENT

    

    THIS SALARY CONTINUATION AGREEMENT (the
“Agreement”) is adopted this 20th day
of July, 2010, by and between HOME FEDERAL BANK, a federally-chartered savings
bank located in Nampa, Idaho (the “Bank”), and R. SHANE CORREA (the
“Executive”).

    

    The
purpose of this Agreement is to provide specified benefits to the Executive, a
member of a select group of management or highly compensated employees who
contribute materially to the continued growth, development and future business
success of the Bank.  This Agreement shall be unfunded for tax
purposes and for purposes of Title I of the Employee Retirement Income Security
Act of 1974 (“ERISA”), as amended from time to time.

    

    Article
1

    Definitions

    

    Whenever used in this Agreement, the
following words and phrases shall have the meanings specified:

    

    
      	
              1.1  

            	
              “Accrual
      Balance” means the liability that should be accrued by the Bank,
      under Generally Accepted Accounting Principles (“GAAP”), for the Bank’s
      obligation to the Executive under this Agreement, by applying Accounting
      Principles Board Opinion Number 12 as amended by Statement of Financial
      Accounting Standards Number 106 and the Discount Rate.  Any one
      of a variety of amortization methods may be used to determine the Accrual
      Balance.  However, once chosen, the method must be consistently
      applied.

            

    

    

    
      	
              1.2  

            	
              “Beneficiary”
      means each designated person or entity, or the estate of the deceased
      Executive, entitled to any benefits upon the death of the Executive
      pursuant to Article 4.

            

    

    

    
      	
              1.3  

            	
              “Beneficiary
      Designation Form” means the form established from time to time by
      the Plan Administrator that the Executive completes, signs and returns to
      the Plan Administrator to designate one or more
    Beneficiaries.

            

    

    

    
      	
              1.4  

            	
              “Board” means
      the Board of Directors of the Bank as from time to time
      constituted.

            

    

    

    
      	
              1.5  

            	
              “Change in
      Control” means (i) any "person," as such term is used in Sections
      13(d) and 14(d) of the Securities Exchange Act of 1934, as amended (the
      "Exchange Act") (other than Home Federal Bancorp, Inc. (“Company”)), any
      Consolidated Subsidiaries (as hereinafter defined), any person (as
      hereinabove defined) acting on behalf of the Company as underwriter
      pursuant to an offering who is temporarily holding securities in
      connection with such offering, any trustee or other fiduciary holding
      securities under an employee benefit plan of the Company, or any
      corporation owned, directly or indirectly, by the stockholders of the
      Company in substantially the same proportions as their ownership of stock
      of the Company), is or becomes the "beneficial owner" (as defined in Rule
      13d-3 under the Exchange Act), directly or indirectly, of securities of
      the Company representing 25% or more of the combined voting power of the
      Company's
      then outstanding securities;(ii) individuals who are members of the Board
      on the Effective Date (the "Incumbent Board") cease for any reason to
      constitute at least a majority thereof, provided that any
      person becoming a director subsequent to the Effective Date whose
      election was approved by a vote of at least three-quarters of the
      directors comprising the Incumbent Board or whose nomination for election
      by the Company's stockholders was approved by the nominating committee
      serving under an Incumbent Board or who was appointed as a result of a
      change at the direction of the Office of Thrift Supervision ("OTS") or the
      Federal Deposit Insurance Corporation ("FDIC"), shall be considered a
      member of the Incumbent Board; (iii) the stockholders of the Company
      approve a merger or consolidation of the Company with any other
      corporation, other than (1) a merger or consolidation which would result
      in the voting securities of the Company outstanding immediately prior
      thereto

            

    

     

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    
      	
                

            	
              continuing
      to represent (either by remaining outstanding or by being converted into
      voting securities of the surviving entity) more than 50% of the combined
      voting power of the voting securities of the Company or such surviving
      entity outstanding immediately after such merger or consolidation or (2) a
      merger or consolidation effected to implement a recapitalization of the
      Company (or similar transaction) in which no person (as hereinabove
      defined) acquires more than 25% of the combined voting power of the
      Company's then outstanding securities; or (iv) the stockholders of the
      Company approve a plan of complete liquidation of the Company or an
      agreement for the sale or disposition by the Company of all or
      substantially all of the Company's assets (or any transaction having a
      similar effect); provided that
      the term "Change in Control" shall not include an acquisition of
      securities by an employee benefit plan of the Bank or the Company or a
      change in the composition of the Board at the direction of the OTS or the
      FDIC.

            

    

     

    
      	
              1.6  

            	
              “Change in Control
      Benefit” means the benefit described in Section
  2.4.

            

    

    

    
      	
              1.7  

            	
              “Code” means the
      Internal Revenue Code of 1986, as amended, and all regulations and
      guidance thereunder, including such regulations and guidance as may be
      promulgated after the Effective Date of this
  Agreement.

            

    

    

    
      	
              1.8  

            	
              “Commencement
      Date” means the date the conversion of the Bank from the mutual to
      stock form of organization was
completed.

            

    

    

    
      	
              1.9  

            	
              “Company” means
      Home Federal Bancorp, Inc.

            

    

    

    
      	
              1.10  

            	
              “Disability”
      means the Executive’s suffering a sickness, accident or injury which has
      been determined by the insurance carrier of any individual or group
      disability insurance policy covering the Executive, or by the Social
      Security Administration, to be a disability rendering the Executive
      totally and permanently disabled.  The Executive must submit
      proof to the Plan Administrator of the insurance carrier’s or Social
      Security Administration’s determination upon the request of the Plan
      Administrator.

            

    

    

    
      	
              1.11  

            	
              “Disability
      Benefit” means the benefit described in Section
  2.3.

            

    

    

    
      	
              1.12  

            	
              “Discount Rate”
      means the rate used by the Plan Administrator for determining the Accrual
      Balance.  The initial Discount Rate is six percent
      (6%).  Notwithstanding the foregoing, for the purposes of
      crediting interest following any event causing payment under Section 2.1,
      2.4 or 3.1, the Discount Rate is seven and one-half percent (7.5%), and
      for the purposes of crediting interest following an event causing payment
      under Section 2.2 or 2.3, the Discount Rate is the Annual Compounding
      Long-Term Applicable Federal Rate for the month in which the event
      occurred, adjusted annually thereafter to reflect the Applicable Federal
      Rate in effect as of the first day of each successive Plan
      Year.  However, the Plan Administrator, in its discretion, may
      adjust the Discount Rate to maintain the rate within reasonable standards
      according to GAAP and/or applicable bank regulatory
    guidance.

            

    

    

    
      	
              1.13  

            	
              “Early
      Retirement” means Termination of Employment before Normal
      Retirement Age for reasons other than death, Disability, Termination for
      Cause or Involuntary Termination.

            

    

    

    
      	
              1.14  

            	
              “Early Retirement
      Benefit” means the benefit described in Section
  2.2.

            

    

    

    
      	
              1.15  

            	
              “Early Retirement
      Date” means the month, day and year in which Early Retirement
      occurs.

            

    

    

    
    

    
      	
              1.16  

            	“Effective
      Date” means July 20, 2010

    

     

    
      	
              1.17  

            	
              “Final Salary”
      means the average of the Executive’s final thirty-six (36) months of base
      salary.

            

    

    

    
      	
              1.18  

            	
              “Involuntary
      Termination” means the Executive has been notified in writing by
      the Bank of a Termination of Employment before Normal Retirement Age for
      reasons other than due to death, Disability, Early Retirement or
      Termination for Cause.

            

    

    

    
      	
              1.19  

            	
              “Normal Retirement
      Age” means the Executive’s sixty-fifth (65th)
      birthday.

            

    

    
 

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    
      	
              1.20  

            	
              “Normal Retirement
      Benefit” means the benefit described in Section
  2.1.

            

    

    

    
      	
              1.21  

            	
              “Plan
      Administrator” means the plan administrator described in Article
      8.

            

    

    

    
      	
              1.22  

            	
              “Plan Year”
      means each twelve (12) month period commencing on October 1st
      and ending on September 30th
      of each year.  The initial Plan Year shall commence on the
      Effective Date and end on the following September
  30.

            

    

    

    
      	
              1.23  

            	
              “Specified
      Employee” means a key employee (as defined in Section 419(i) of the
      Code without regard to paragraph 5 thereof) of the Bank if any stock of
      the Bank is publicly traded on an established securities market or
      otherwise, as determined by the Plan Administrator based on the twelve
      (12) month period ending each December 31 (the “identification
      period”).  If the Executive is determined to be a Specified
      Employee for an identification period, the Executive shall be treated as a
      Specified Employee for purposes of this Agreement during the twelve (12)
      month period that begins on the first day of the fourth month following
      the close of the identification
period.

            

    

    

    
      	
              1.24  

            	
              “Termination of
      Employment” means termination of the Executive’s employment with
      the Bank for reasons other than death or Disability.  Whether a
      Separation from Service has occurred is determined in
      accordance with the requirements of Code Section 409A based on
      whether the facts and circumstances indicate that the Bank and Executive
      reasonably anticipated that no further services would be performed after a
      certain date or that the level of bona fide services the Executive would
      perform after such date (whether as an employee or as an independent
      contractor) would permanently decrease to no more than twenty percent
      (20%) of the average level of bona fide services performed (whether as an
      employee or an independent contractor) over the immediately preceding
      thirty-six (36) month period (or the full period of services to the Bank
      if the Executive has been providing services to the Bank less than
      thirty-six (36) months).

            

    

    

    
      	
              1.25  

            	
              “Vested Accrual
      Balance” means the following vesting schedule applied to the
      Accrual Balance:

            

    

    

    
      	
              Plan
      Year

            	
              Vested
      Percentage

            
	
              1

            	
              10%

            
	
              2

            	
              20%

            
	
              3

            	
              30%

            
	
              4

            	
              40%

            
	
              5

            	
              50%

            
	
              6

            	
              60%

            
	
              7

            	
              70%

            
	
              8

            	
              80%

            
	
              9

            	
              90%

            
	
              10+

            	
              100%

            

    

    

    Article
2

    Distributions
During Lifetime

    

    
      	
              2.1

            	
              Normal Retirement
      Benefit.  Upon Termination of Employment on or after
      Normal Retirement Age for reasons other than death, the Bank shall pay to
      the Executive the benefit described in this Section 2.1 in lieu of any
      other benefit under this Article.

            

    

    

    
      	
               
      

            	
              2.1.1

            	
              Amount of
      Benefit.  The annual benefit under this Section 2.1 is
      fifty percent (50%) of Final
Salary.

            

    

    

    
      	
               
      

            	
              2.1.2

            	
              Payment of
      Benefit.  The Bank shall pay the annual Normal Retirement
      Benefit to the Executive in twelve (12) equal monthly installments
      commencing with the first of the month
following

            

    

     

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    
      	
               
      

            	
               

            	
              Termination
      of Employment.  The annual Normal Retirement Benefit shall be
      paid to the Executive for a period of fifteen (15)
  years.

            

    

     

    
      	
              2.2

            	
              Early Retirement
      Benefit.  Upon Early Retirement, the Bank shall pay to
      the Executive the benefit described in this Section 2.2 in lieu of any
      other benefit under this Article.

            

    

    

    
      	
               
      

            	
              2.2.1

            	
              Amount of
      Benefit.  The Early Retirement Benefit under this Section
      2.2 is the Vested Accrual Balance as of the end of the month prior to the
      Early Retirement Date.

            

    

    

    
      	
               
      

            	
              2.2.2

            	
              Payment of
      Benefit.  The Bank shall pay the Early Retirement Benefit
      to the Executive in one hundred eighty (180) equal monthly installments,
      crediting interest equal to the Discount Rate compounded monthly on the
      unpaid Vested Accrual Balance, commencing with the first of the month
      following Normal Retirement Age.

            

    

    

    
      	
              2.3

            	
              Disability
      Benefit.  Upon
      Disability prior to Normal Retirement Age, the Bank shall pay to the
      Executive the benefit described in this Section 2.3 in lieu of any other
      benefit under this Article.

            

    

    

    
      	
               
      

            	
              2.3.1

            	
              Amount of
      Benefit.  The
      Disability Benefit under this Section 2.3 is the Vested Accrual Balance as
      of the end of the month prior to
Disability.

            

    

    

    
      	
               
      

            	
              2.3.2

            	
              Payment of
      Benefit.  The Bank shall pay the Disability Benefit to
      the Executive in one hundred eighty (180) equal monthly installments,
      crediting interest equal to the Discount Rate compounded monthly on the
      unpaid Accrual Balance, commencing with the first of the month following
      Disability.

            

    

    

    
      	
              2.4

            	
              Change in Control
      Benefit.  Upon Involuntary Termination within twenty-four
      (24) months following a Change in Control, the Bank shall pay to the
      Executive the benefit described in this Section 2.4 (subject to Section
      2.4.3) in lieu of any other benefit under this
  Article.

            

    

     
 

    
      	
               
      

            	
              2.4.1

            	
              Amount of
      Benefit.  The Change
      in Control Benefit under this Section 2.4 is one hundred percent (100%) of
      the Accrual Balance as of the end of the month prior to the Change in
      Control.

            

    

    

    
      	
               
      

            	
              2.4.2

            	
              Payment of
      Benefit.  The Bank shall
      pay the Change in Control Benefit to the Executive in one hundred eighty
      (180) equal monthly installments, crediting interest equal to the Discount
      Rate compounded monthly on the unpaid benefit, commencing with the first
      of the month following Normal Retirement
Age.

            

    

    

    
      	
               
      

            	
              2.4.3

            	
              Excess Parachute
      Payment.  Notwithstanding any other provision of this
      Agreement, if payments and the value of benefits received or to be
      received under this Agreement, together with any other amounts and the
      value of benefits received or to be received by the Executive, would cause
      any amount to be nondeductible by the Company or any of the Consolidated
      Subsidiaries for federal income tax purposes pursuant to or by reason of
      Section 280G of the Code, then payments and benefits under this Agreement
      shall be reduced (not less than zero) to the extent necessary to as to
      maximize amounts and the value of benefits to be received by the Executive
      without causing any amount to become nondeductible pursuant to or by
      reason of Section 280G of the Code.  For this purpose, the term
      “Consolidated Subsidiaries” means any subsidiary or subsidiaries of the
      Company (or its successors) that are part of the affiliated group (as
      defined in Section 1054 of the Code, without regard to subsection (b)
      thereof) that includes the Bank, including but not limited to the
      Company.

            

    

    

    
      	
              2.5

            	
              Restriction on Timing
      of Distributions.  Notwithstanding any provision of this
      Agreement to the contrary, if the Executive is considered a Specified
      Employee at Termination of Employment, the provisions of this Section 2.5
      shall govern all distributions hereunder.  Benefit distributions
      that are made due to a Termination of Employment occurring while the
      Executive is a Specified Employee shall not be made during the first six
      (6) months following Termination of Employment, rather, any distribution
      which would otherwise be paid to the Executive during such period shall be
      accumulated and paid to the Executive in a

            

    

     

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    
      	
               

            	
              lump
      sum on the first day of the seventh month following the Termination of
      Employment.  All subsequent distributions shall be paid in the
      manner specified.

            

    

     

    
      	
              2.6

            	
              Distributions Upon
      Income Inclusion Under Section 409A of the Code. If any amount is
      required to be included in income by the Executive prior to receipt due to
      a failure of this Agreement to meet the requirements of Code Section 409A
      and related Treasury guidance or Regulations, the Executive may petition
      the Plan Administrator for a distribution of that portion of the Accrual
      Balance that is required to be included in the Executive’s
      income.  Upon the grant of such a petition, which grant shall
      not be unreasonably withheld, the Bank shall distribute to the Executive
      immediately available funds in an amount equal to the portion of the
      Accrual Balance required to be included in income as a result of the
      failure of this Agreement to meet the requirements of Code Section 409A
      and related Treasury guidance or Regulations, within ninety (90)
      days.  Such a distribution shall affect and reduce the
      Executive’s benefits to be paid under this
  Agreement.

            

    

    

    
      	
              2.7

            	
              Change in Form or
      Timing of Distributions.  All changes in the form or timing of
      distributions hereunder must comply with the following
      requirements.  The
changes:

            

    

    
      	
               
      

            	
               

            

    

    
      	
              (a)  

            	
              may
      not accelerate the time or schedule of any distribution, except as
      provided in Section 409A of the Code and the regulations
      thereunder;

            

    

    

    
      	
              (b)  

            	
              must,
      for benefits distributable under Sections 2.2 and 2.4, be made at least
      twelve (12) months prior to the first scheduled
    distribution;

            

    

    

    
      	
              (c)  

            	
              must,
      for benefits distributable under Sections 2.1, 2.2, 2.3 and 2.4, delay the
      commencement of distributions for a minimum of five (5) years from the
      date the first distribution was originally scheduled to be made; and

            

    

    

    
      	
              (d)  

            	
              must
      take effect not less than twelve (12) months after the amendment is
      made.

            

    

    

    Article
3

    Distribution
at Death

    

    
      	
              3.1

            	
              Death During Active
      Service.  If the Executive dies while in the active
      service of the Bank, the Bank shall pay to the Beneficiary the benefit
      described in this Section 3.1.  This benefit shall be paid in
      lieu of the benefits under Article 2, and in lieu of any other benefits
      under this Article.

            

    

    

    
      	
               
      

            	
              3.1.1

            	
              Amount of
      Benefit.  The death benefit under this Section 3.1 is the
      Vested Accrual Balance as of the end of the month prior to
      death.

            

    

    

    
      	
               
      

            	
              3.1.2

            	
              Payment of
      Benefit.  The Bank shall pay the death benefit to the
      Beneficiary in one hundred eighty (180) equal monthly installments,
      crediting interest equal to the Discount Rate compounded monthly on the
      unpaid Accrual Balance, commencing with the first of the month following
      death.

            

    

     

    
      	
              3.2

            	
              Death During Payment
      of a Benefit.  If the Executive dies after any benefit
      payments have commenced under Article 2 of this Agreement but before
      receiving all such payments, the Bank shall pay the remaining benefits to
      the Beneficiary at the same time and in the same amounts they would have
      been paid to the Executive had the Executive
  survived.

            

    

     

    
      	
              3.3

            	
              Death After
      Termination of Employment But Before Payment of a Benefit
      Commences. If the Executive
      is entitled to any benefit payments under Article 2 of this Agreement, but
      dies prior to the commencement of said benefit payments, the Bank shall
      pay the same benefit payments to the Beneficiary that the Executive was
      entitled to prior to death except that the benefit payments shall commence
      on the first day of the month following the date of the Executive’s
      death.

            

    

    

    Article
4

    Beneficiaries

     

    
 

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    
      	
              4.1

            	
              Beneficiary
      Designation.  The Executive shall have the right, at any
      time, to designate a Beneficiary to receive any benefit distributions
      under this Agreement upon the death of the Executive.  The
      Beneficiary designated under this Agreement may be the same as or
      different from the beneficiary designation under any other benefit plan of
      the Bank in which the Executive
participates.

            

    

    

    
      	
              4.2

            	
              Beneficiary
      Designation; Change.  The Executive shall designate a
      Beneficiary by completing and signing the Beneficiary Designation Form and
      delivering it to the Plan Administrator or its designated
      agent.  The Executive’s Beneficiary designation shall be deemed
      automatically revoked if the Beneficiary predeceases the Executive or if
      the Executive names a spouse as Beneficiary and the marriage is
      subsequently dissolved.  The Executive shall have the right to
      change a Beneficiary by completing, signing and otherwise complying with
      the terms of the Beneficiary Designation Form and the Plan Administrator’s
      rules and procedures, as in effect from time to time.  Upon the
      acceptance by the Plan Administrator of a new Beneficiary Designation
      Form, all Beneficiary designations previously filed shall be
      cancelled.  The Plan Administrator shall be entitled to rely on
      the last Beneficiary Designation Form filed by the Executive and accepted
      by the Plan Administrator prior to the Executive’s
  death.

            

    

    

    
      	
              4.3

            	
              Acknowledgment.  No
      designation or change in designation of a Beneficiary shall be effective
      until received, accepted and acknowledged in writing by the Plan
      Administrator or its designated
agent.

            

    

    

    
      	
              4.4

            	
              No Beneficiary
      Designation.  If the Executive dies without a valid
      beneficiary designation, or if all designated Beneficiaries predecease the
      Executive, then the Executive’s spouse shall be the designated
      Beneficiary.  If the Executive has no surviving spouse, any
      benefit shall be paid to the personal representative of the Executive's
      estate.

            

    

    
      	
               
      

            	 

    

    
      	
              4.5

            	
              Facility of
      Payment.  If the Plan Administrator determines in its
      discretion that a benefit is to be distributed to a minor, to a person
      declared incompetent or to a person incapable of handling the disposition
      of that person’s property, the Plan Administrator may direct payment of
      such benefit to the guardian, legal representative or person having the
      care or custody of such minor, incompetent person or incapable
      person.  The Plan Administrator may require proof of
      incompetence, minority or guardianship as it may deem appropriate prior to
      distribution of the benefit.  Any payment of a benefit shall be
      a payment for the account of the Executive and the Executive’s
      Beneficiary, as the case may be, and shall be a complete discharge of any
      liability under this Agreement for such payment
  amount.

            

    

    

    Article
5

    Claims
And Review Procedures

    

    
      	
              5.1

            	
              Claims
      Procedure.  An Executive or Beneficiary (“claimant”) who
      has not received benefits under this Agreement that he or she believes
      should be distributed shall make a claim for such benefits as
      follows:

            

    

    

    
      	
               
      

            	
              5.1.1

            	
              Initiation – Written
      Claim.  The claimant initiates a claim by submitting to
      the Plan Administrator a written claim for the benefits.  If
      such a claim relates to the contents of a notice received by the claimant,
      the claim must be made within sixty (60) days after such notice was
      received by the claimant.  All other claims must be made within
      one hundred eighty (180) days of the date on which the event that
      caused the claim to arise occurred.  The claim must state with
      particularity the determination desired by the
  claimant.

            

    

     

    

    
      	
               
      

            	
              5.1.2

            	
              Timing of Plan
      Administrator Response.  The Plan
      Administrator shall respond to such claimant within ninety (90) days after
      receiving the claim.  If the Plan Administrator determines that
      special circumstances require additional time for processing the claim,
      the Plan Administrator can extend the response period by an additional
      ninety (90) days by notifying the claimant in writing, prior to the end of
      the initial ninety (90) day period, that an additional period is
      required.  The notice of extension must set forth the special
      circumstances and the date by which the Plan Administrator expects to
      render its decision.

            

    

    

    
      	
               
      

            	
              5.1.3

            	
              Notice of
      Decision.  If the Plan Administrator denies part or all
      of the claim, the Plan Administrator shall notify the claimant in writing
      of such denial.  The Plan Administrator
  shall

            

    

     

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    
      	 	
               

            	
              write
      the notification in a manner calculated to be understood by the
      claimant.  The notification shall set
  forth:

            

    

     

    
      	
               

            	
              (a)

            	
              The
      specific reasons for the denial;

            

    

    

    
      	
               
      

            	
              (b)

            	
              A
      reference to the specific provisions of this Agreement on which the denial
      is based;

            

    

    

    
      	
               
      

            	
              (c)

            	
              A
      description of any additional information or material necessary for the
      claimant to perfect the claim and an explanation of why it is
      needed;

            

    

    

    
      	
               
      

            	
              (d)

            	
              An
      explanation of this Agreement’s review procedures and the time limits
      applicable to such procedures; and

            

    

    

    
      	
               
      

            	
              (e)

            	
              A
      statement of the claimant’s right to bring a civil action under ERISA
      Section 502(a) following an adverse benefit determination on
      review.

            

    

    

    
      	
              5.2

            	
              Review
      Procedure.  If the Plan Administrator denies part or all
      of the claim, the claimant shall have the opportunity for a full and fair
      review by the Plan Administrator of the denial as
  follows:

            

    

    

    
      	
               
      

            	
              5.2.1

            	
              Initiation – Written
      Request.  To initiate the review, the claimant, within
      sixty (60) days after receiving the Plan Administrator’s notice of denial,
      must file with the Plan Administrator a written request for
      review.

            

    

    

    
      	
               
      

            	
              5.2.2

            	
              Additional Submissions
      – Information Access.  The claimant shall then have the
      opportunity to submit written comments, documents, records and other
      information relating to the claim.  The Plan Administrator shall
      also provide the claimant, upon request and free of charge, reasonable
      access to, and copies of, all documents, records and other information
      relevant (as defined in applicable ERISA regulations) to the claimant’s
      claim for benefits.

            

    

    

    
      	
               
      

            	
              5.2.3

            	
              Considerations on
      Review.  In considering the review, the Plan
      Administrator shall take into account all materials and information the
      claimant submits relating to the claim, without regard to whether such
      information was submitted or considered in the initial benefit
      determination.

            

    

    

    
      	
               
      

            	
              5.2.4

            	
              Timing of Plan
      Administrator Response.  The Plan Administrator shall
      respond in writing to such claimant within sixty (60) days after receiving
      the request for review.  If the Plan Administrator determines
      that special circumstances require additional time for processing the
      claim, the Plan Administrator can extend the response period by an
      additional sixty (60) days by notifying the claimant in writing, prior to
      the end of the initial sixty (60) day period, that an additional period is
      required.  The notice of extension must set forth the special
      circumstances and the date by which the Plan Administrator expects to
      render its decision.

            

    

    

    
      	
               
      

            	
              5.2.5

            	
              Notice of
      Decision.  The Plan Administrator shall notify the
      claimant in writing of its decision on review.  The Plan
      Administrator shall write the notification in a manner calculated to be
      understood by the claimant.  The notification shall set
      forth:

            

    

    

    
      	
               
      

            	
              (a)

            	
              The
      specific reasons for the denial;

            

    

    

    
      	
               
      

            	
              (b)

            	
              A
      reference to the specific provisions of this Agreement on which the denial
      is based;

            

    

    

    
      	
               
      

            	
              (c)

            	
              A
      statement that the claimant is entitled to receive, upon request and free
      of charge, reasonable access to, and copies of, all documents, records and
      other information relevant (as defined in applicable ERISA regulations) to
      the claimant’s claim for benefits;
and

            

    

    

    
      	
               
      

            	
              (d)

            	
              A
      statement of the claimant’s right to bring a civil action under ERISA
      Section 502(a).

            

    

    

    Article
6

    Amendments
and Termination

     

    
 

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    
      	
              6.1

            	
              Amendments.  This
      Agreement may be amended only by a written agreement signed by the Bank
      and the Executive.  However, the Bank may unilaterally amend
      this Agreement to conform with written directives to the Bank from its
      auditors or banking regulators or to comply with legislative changes or
      tax law, including without limitation Section 409A of the Code and any and
      all Treasury regulations and guidance promulgated
    thereunder.

            

    

    

    
      	
              6.2

            	
              Plan Termination
      Generally.  This Agreement may be terminated only by a
      written agreement signed by the Bank and the Executive.  The
      benefit hereunder shall be the Accrual Balance as of the date the
      Agreement is terminated.  Except as provided in Section 6.3, the
      termination of this Agreement shall not cause a distribution of benefits
      under this Agreement.  Rather, after such termination benefit
      distributions will be made at the earliest distribution event permitted
      under Article 2 or Article 3.

            

    

    

    
      	
              6.3

            	
              Plan Terminations
      Under Section 409A.  Notwithstanding anything to the
      contrary in Section 6.2, if this Agreement terminates in the following
      circumstances:

            

    

    

    
      	
               
      

            	
              (a)

            	
              Within
      thirty (30) days before or twelve (12) months after a change in the
      ownership or effective control of the Bank, or in the ownership of a
      substantial portion of the assets of the Bank as described in Section
      409A(2)(A)(v) of the Code, provided that all distributions are made no
      later than twelve (12) months following such termination of this Agreement
      and further provided that all the Bank's arrangements which are
      substantially similar to this Agreement are terminated so the
      Executive and all participants in the similar arrangements are
      required to receive all amounts of compensation deferred under the
      terminated arrangements within twelve (12) months of such
      termination;

            

    

    

    
      	
               
      

            	
              (b)

            	
              Upon
      the Bank’s dissolution or with the approval of a bankruptcy court provided
      that the amounts deferred under this Agreement are included in the
      Executive's gross income in the latest of (i) the calendar year in which
      this Agreement terminates; (ii) the calendar year in which the amount is
      no longer subject to a substantial risk of forfeiture; or (iii) the first
      calendar year in which the distribution is administratively practical;
      or

            

    

    

    
      	
               
      

            	
              (c)

            	
              Upon
      the Bank’s termination of this and all other plans which are substantially
      similar to this Agreement (as referenced in Section 409A of the Code or
      the regulations thereunder), provided that all distributions are made no
      earlier than twelve (12) months and no later than twenty-four (24) months
      following such termination, and the Bank does not adopt any new plans
      which are substantially similar to this Agreement for a minimum of five
      (5) years following the date of such
  termination;

            

    

    

    the Bank
may distribute the Accrual Balance, determined as of the date of the termination
of this Agreement, to the Executive in a lump sum subject to the above
terms.

    

    Article
7

    Administration
of Agreement

    

    
      	
              7.1

            	
              Plan Administrator
      Duties.  This Agreement shall be administered by the Plan
      Administrator which shall consist of the Board, or such committee or
      person(s) as the Board shall appoint.  The Executive may be a
      member of the Plan Administrator.  The Plan Administrator shall
      also have the discretion and authority to (i) make, amend, interpret and
      enforce all appropriate rules and regulations for the administration of
      this Agreement and (ii) decide or resolve any and all questions including
      interpretations of this Agreement, as may arise in connection with the
      Agreement.

            

    

    

    
      	
              7.2

            	
              Agents.  In
      the administration of this Agreement, the Plan Administrator may employ
      agents and delegate to them such administrative duties as it sees fit,
      (including acting through a duly appointed representative), and may from
      time to time consult with counsel who may be counsel to the
      Bank.

            

    

    

    
      	
              7.3

            	
              Binding Effect of
      Decisions.  The decision or action of the Plan
      administrator with respect to any questions arising out of or in
      connection with the administration, interpretation and application of the
      Agreement and

            

    

     

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    
      	
               

            	
              the
      rules and regulations promulgated hereunder shall be final and conclusive
      and binding upon all persons having any interest in the
      Agreement.  No Executive or Beneficiary shall be deemed to have
      any rights, vested or nonvested, regarding the continued use of any
      previously adopted assumptions, including but not limited to the Discount
      Rate.

            

    

     

    
      	
              7.4

            	
              Indemnity of Plan
      Administrator.  The Bank shall indemnify and hold
      harmless the members of the Plan Administrator against any and all claims,
      losses, damages, expenses or liabilities arising from any action or
      failure to act with respect to this Agreement, except in the case of
      willful misconduct by the Plan Administrator or any of its
      members.

            

    

    

    
      	
              7.5

            	
              Bank
      Information.  To enable the Plan Administrator to perform
      its functions, the Bank shall supply full and timely information to the
      Plan Administrator on all matters relating to the Executive’s Final
      Salary, the date and circumstances of the retirement, Disability, death or
      Termination of Employment of the Executive, and such other pertinent
      information as the Plan Administrator may reasonably
    require.

            

    

    

    
      	
              7.6

            	
              Annual
      Statement.  The Plan Administrator shall provide to the
      Executive, within ninety (90) days after the end of each Plan Year, a
      statement setting forth the benefits payable under this
      Agreement.

            

    

    

    Article
8

    Miscellaneous

    

    
      	
              8.1

            	
              Binding
      Effect.  This Agreement shall bind the Executive and the
      Bank and their beneficiaries, survivors, executors, administrators and
      transferees.

            

    

    

    
      	
              8.2

            	
              No Guarantee of
      Employment.  This Agreement is not an employment policy
      or contract. It does not give the Executive the right to remain an
      employee of the Bank, nor does it interfere with the Bank's right to
      discharge the Executive.  It does not require the Executive to
      remain an employee nor interfere with the Executive's right to terminate
      employment at any time.

            

    

    

    
      	
              8.3

            	
              Non-Transferability.  Benefits
      under this Agreement cannot be sold, transferred, assigned, pledged,
      attached or encumbered in any
manner.

            

    

    

    
      	
              8.4

            	
              Tax
      Withholding.  The Bank shall withhold any taxes that, in
      its reasonable judgment, are required to be withheld from the benefits
      provided under this Agreement.  The Executive acknowledges that
      the Bank’s sole liability regarding taxes is to forward any amounts
      withheld to the appropriate taxing
authorities.

            

    

    

    
      	
              8.5

            	
              Applicable
      Law.  This Agreement and all rights hereunder shall be
      governed by the laws of the State of Idaho, except to the extent preempted
      by the laws of the United States of
America.

            

    

    

    
      	
              8.6

            	
              Unfunded
      Arrangement.  The Executive and Beneficiary are general
      unsecured creditors of the Bank for the payment of benefits under this
      Agreement.  The benefits represent the mere promise by the Bank
      to pay such benefits.  The rights to benefits are not subject in
      any manner to anticipation, alienation, sale, transfer, assignment,
      pledge, encumbrance, attachment or garnishment by
      creditors.  Any insurance on the Executive's life is a general
      asset of the Bank to which the Executive and Beneficiary have no preferred
      or secured claim.

            

    

    

    
      	
              8.7

            	
              Reorganization. The Bank shall
      not merge or consolidate into or with another company, or reorganize, or
      sell substantially all of its assets to another company, firm or person
      unless such succeeding or continuing company, firm or person agrees to
      assume and discharge the obligations of the Bank under this
      Agreement.  Upon the occurrence of such an event, the term
      “Bank” as used in this Agreement shall be deemed to refer to the successor
      or survivor entity.

            

    

    

    
      	
              8.8

            	
              Entire
      Agreement. This Agreement
      constitutes the entire agreement between the Bank and the Executive as to
      the subject matter hereof.  No rights are granted to the
      Executive by virtue of this Agreement other than those specifically set
      forth herein.

            

    

     

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    
      	
              8.9

            	
              Interpretation.  Wherever
      the fulfillment of the intent and purpose of this Agreement requires and
      the context will permit, the use of the masculine gender includes the
      feminine and use of the singular includes the
  plural.

            

    

    

    
      	
              8.10

            	
              Alternative
      Action.  In the event it shall become impossible for the
      Bank or the Plan Administrator to perform any act required by this
      Agreement due to regulatory or other constraints, the Bank or Plan
      Administrator may in its discretion perform such alternative act as most
      nearly carries out the intent and purpose of this Agreement and is in the
      best interests of the Bank, provided that such alternative act does not
      violate Section 409A of the Code.

            

    

    

    
      	
              8.11

            	
              Headings.  Article
      and section headings are for convenient reference only and shall not
      control or affect the meaning or construction of any provision
      herein.

            

    

    

    
      	
              8.12

            	
              Validity.  In
      case any provision of this Agreement shall be illegal or invalid for any
      reason, said illegality or invalidity shall not affect the remaining parts
      hereof, but this Agreement shall be construed and enforced as if such
      illegal or invalid provision had never been inserted
    herein.

            

    

    

    
      	
              8.13

            	
              Notice.  Any
      notice or filing required or permitted to be given to the Bank or Plan
      Administrator under this Agreement shall be sufficient if in writing and
      hand-delivered or sent by registered or certified mail to the address
      below:

            

    

     

    
      	
              Home
      Federal Bank

            
	
              P.O.
      Box 190

            
	
              Nampa,
      ID 83653

            

    

     

    Such
notice shall be deemed given as of the date of delivery or, if delivery is made
by mail, as of the date shown on the postmark on the receipt for registration or
certification.

    

    Any
notice or filing required or permitted to be given to the Executive under this
Agreement shall be sufficient if in writing and hand-delivered or sent by mail
to the last known address of the Executive.

    

    
      	
              8.14

            	
              Compliance with
      Section 409A.  This Agreement shall at all times be
      administered and the provisions of this Agreement shall be interpreted
      consistent with the requirements of Section 409A of the Code and any and
      all regulations thereunder, including such regulations as may be
      promulgated after the Effective Date of this
  Agreement.

            

    

    

    
      	
              8.15

            	
              Termination for
      Cause.  Notwithstanding any provision of this Agreement
      to the contrary, the Bank shall not distribute any benefit under this
      Agreement if the Executive’s employment with the Bank is terminated due to
      a Termination for Cause.

            

    

    

    
      	
              8.16

            	
              Suicide or
      Misstatement.  No benefit shall be distributed if the
      Executive commits suicide within two (2) years after the Effective Date,
      or if an insurance company which issued a life insurance policy covering
      the Executive and owned by the Bank denies coverage (i) for material
      misstatements of fact made by the Executive on an application for such
      life insurance, or (ii) for any other
reason.

            

    

    

    

    IN
WITNESS WHEREOF, the Executive and a duly authorized representative of the Bank
have signed this Agreement.

    

    EXECUTIVE:                                                                           BANK:

              
HOME FEDERAL BANK

    

    

    __________________________________                         By:
________________________________

    R. Shane
Correa                                                                           Title:
_______________________________

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    {  }           New
Designation

    {  }           Change
in Designation

    

    I, R.
Shane Correa, designate the following as Beneficiary under this
Agreement:

    

    
      	
              Primary:

              ___________________________________________________________

               

              ___________________________________________________________

               

            	
               

              _____%

               

              _____%

               

            
	
              Contingent:

              ___________________________________________________________

               

              ___________________________________________________________

               

            	
               

              _____%

               

              _____%

               

            

    

    
      	
              Notes:

            

    

    
      	
              ·  

            	
              Please
      PRINT CLEARLY or TYPE the names of the
  beneficiaries.

            

    

    
      	
              ·  

            	
              To
      name a trust as Beneficiary, please provide the name of the trustee(s) and
      the exact
      name and date of the trust
agreement.

            

    

    
      	
              ·  

            	
              To
      name your estate as Beneficiary, please write “Estate of [your
      name]”.

            

    

    
      	
              ·  

            	
              Be
      aware that none of the contingent beneficiaries will receive anything
      unless ALL of the primary beneficiaries predecease
  you.

            

    

    

    I
understand that I may change these beneficiary designations by delivering a new
written designation to the Plan Administrator, which shall be effective only
upon receipt and acknowledgment by the Plan Administrator prior to my
death.  I further understand that the designations will be
automatically revoked if the Beneficiary predeceases me, or, if I have named my
spouse as Beneficiary and our marriage is subsequently dissolved.

    

    Name:                              _______________________________

    

    Signature:                      _______________________________                                                                Date:           _______

    

    
      SPOUSAL
CONSENT (Required if spouse is not named Beneficiary and Plan Administrator
requests):

      

      I consent
to the beneficiary designation above, and acknowledge that if I am named
Beneficiary and our marriage is subsequently dissolved, the designation will be
automatically revoked.

      

    

    
      Spouse
Name:               _______________________________

    

    
      

      Signature:                      _______________________________                                                                Date:           _________________

      

    

    

    Received
by the Plan Administrator this ________ day of ___________________,
200__

    

      By:             _________________________________

    

    Title:           _________________________________form8k121410ex10-1.htm

 

Exhibit 10.1

 

STOCK PURCHASE AGREEMENT

A Stock Purchase Agreement made the 8th day of December 2010 by and between BIG CAT ENERGY CORPORATION, a Nevada corporation (“Big Cat”) whose address is PO Box 500, Upton, Wyoming 82730 and HIGH PLAINS GAS, INC., a Nevada corporation (“High Plains”) whose address is 3601 Southern Rd, Gillette, Wyoming 82718.

RECITALS

WHEREAS Big Cat is a publicly held company engaged in the distribution and sale of certain natural resources technology; and

WHEREAS High Plains is a publicly held company engaged in the business of exploration of natural resource properties in the United States; and

 WHEREAS High Plains desires to purchase 20,000,000 shares of the common stock, par value $.001 per share, of Big Cat (the “Big Cat Stock”) and Big Cat is willing sell the Big Cat Stock and to receive part payment through the purchase of restricted common stock, par value $.001 per share of High Plains (the “High Plains Stock”) as provided herein and to grant High Plains a seat on Big Cat’s Board of Directors;

THEREFORE, for good and valuable consideration the receipt and sufficiency of which is hereby acknowledged, the parties agree as follows:

AGREEMENT

	
1.  

	
Stock Purchase.   High Plains agrees to purchase 20,000,000 restricted shares (the “Big Cat Shares”) of common stock of Big Cat at a price of $.03 per share for a total purchase price of $600,000.   In connection with the purchase, Big Cat agrees to issue to High Plains warrants (the “Big Cat Warrants”) to purchase 10,000,000 additional restricted shares of the common stock of Big Cat, in the form attached hereto as Exhibit A, such warrants being exercisable at $0.15 each for a period of five (5) years from the date of Closing.    The Big Cat Shares and the Big Cat Warrants shall be issued and delivered into Escrow with Cutler Law Group for delivery to High Plains within two business days after all funds reflected in paragraph 2 hereto are paid in full.

  

1

  

	
2.  

	
Payment.    High Plains agrees to pay for the stock purchase as follows:

	
(a)  

	
$75,000 wired to Big Cat on or before November 24, 2010 (which Big Cat hereby acknowledges receipt in full).

 

	
(b)  

	
An additional $50,000, wired to Big Cat on or before December 15, 2010.

 

	
(c)  

	
An additional $75,000, wired to Big Cat on or before December 31, 2010.

 

	
(d)  

	
The balance of the purchase price paid by issuing to Big Cat such number of restricted shares of High Plains common stock equal to four hundred thousand dollars ($400,000) divided by 75% of the volume weighted average trading price of the High Plains shares for the five trading days prior to the execution of this Agreement.   Such shares shall be issued into Escrow with Cutler Law Group and delivered within 2 business days after all of the foregoing funds are paid in full.

 

 

	
3.  

	
Closing and Post Closing Matters.    The Closing of the purchase and sale

 

transactions (the "Closing") will occur informally and shall be effective upon satisfaction of the conditions precedent specified below which shall occur on or before December 10, 2010, 5:00 pm Mountain Standard Time unless otherwise agree by the parties.   Conditions precedent to the Closing are as follows:

 

	
1-  

	
Each party shall have received an executed copy of this Agreement with Exhibits

 

	
2-  

	
High Plains shall have wired the $75,000 payment to Big Cat as provided herein.

 

	
3-  

	
High Plains and Big Cat execute and enter into that certain Registration Rights Agreement (“Registration Rights Agreement”) in the form attached hereto as Exhibit B.

 

 

Post Closing,

 

 

	
1.  

	
High Plains shall deliver to Escrow a stock certificate for the High Plains Stock and a letter stating the basis of the computation of the number of shares represented by the certificate within ten days of the Closing.

 

	
2.  

	
Big Cat shall have delivered to Escrow an original stock certificate of Big Cat for 20,000,000 restricted common shares and a warrant to purchase an additional 10,000,000 restricted shares, on terms provided herein, within ten days of the Closing.

 

	
3.  

	
On or before December 15, 2010, High Plains shall wire $50,000 to Big Cat’s account.

 

	
4.  

	
On or before December 31, 2010, High Plains shall wire $75,000 to Big Cat’s account.

 

  

2

  

	
5.  

	
Big Cat shall register the Big Cat Stock and the shares of common stock issuable upon exercise of the Warrant (the “Warrant Shares”) pursuant to the terms of the Registration Rights Agreement.

 

	
6.  

	
Each party may publicly announce the transaction by press release or pursuant to Form 8-K as soon as Closing has occurred, or as otherwise required by law.

 

 

	
4.  

	
 Board Appointment.   The Board of Directors of Big Cat has appointed

 

______________to serve as a member of Big Cat’s Board of Directors, effective upon the Closing and to serve until a successor is elected and qualified.  A Certificate of the Corporate Secretary of Big Cat including a copy of the Board Resolution approving the board appointment of the High Plains nominee is attached hereto as Exhibit A.   High Plains agrees that its nominee will promptly provide a completed Directors and officers Questionnaire and any other necessary information to prepare SEC disclosure regarding the nominee’s business and professional background.

 

 

5.   Exempt Offering.   Each party agrees and acknowledges that the offer and issuance to High Plains of the Big Cat Stock and the offer and issuance of the High Plains Stock to Big Cat is made pursuant to the exemption found in Section 4(2) of the Securities Act of 1933 and/or Regulation D and other available exemptions as an offering exempt from registration and that each party has access to meaningful current information concerning the other and that such information has been made available to each party through publicly available reports and other disclosure.    Each party is able to fend for itself, to require disclosure of all information deemed material to an investment decision and to comprehend, review and understand disclosed information, risks of the investment and the business and operations of the issuer. Big Cat and High Plains are each a public reporting company filing periodic reports with the Securities and Exchange Commission and each party has had opportunity to review the publicly filed reports of the other for at least the last year.

 

 

6. Document Availability and Disclosure.   .A list of the filed periodic reports during the last three years for each of the parties is attached as Exhibits B and C respectively and such publicly filed documents are incorporated herein by this reference (the “SEC Documents”), however such lists are not exhaustive and do not contain every filing of record for Big Cat and High Plains respectively, as found at www.SEC.gov.   Each of High Plains and Big Cat has filed all reports, schedules, forms, statements and other documents required to be filed by it with the SEC under the Exchange Act.  As of their respective dates, the financial statements of disclosed in the SEC Documents (the “Financial Statements”) complied as to form in all material respects with applicable accounting requirements and the published rules and regulations of the SEC with respect thereto.  Such financial statements have been prepared in accordance with generally accepted accounting principles, consistently applied, during the periods involved (except

 

  

3

  

 

(i) as may be otherwise indicated in such financial statements or the notes thereto, or (ii) in the case of unaudited interim statements, to the extent they may exclude footnotes or may be condensed or summary statements) and, fairly present in all material respects the financial position of such party as of the dates thereof and the results of its operations and cash flows for the periods then ended (subject, in the case of unaudited statements, to normal year-end audit adjustments).  The SEC Documents do not include any untrue statements of material fact, nor do they omit to state any material fact required to be stated therein necessary to make the statements made, in light of the circumstances under which they were made, not misleading.  No other information provided by or on behalf of one party to the other which is not included in the SEC Documents contains any untrue statement of a material fact or omits to state any material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading.

 

 

7.           Representations and Warranties of Big Cat.   Big Cat  understands

 

that the High Plains Stock is being sold in reliance upon exemptions provided in the Securities Act of 1933 (the "Securities Act") or Regulation D thereunder for transactions involving private placement of limited offers and sales of its securities and Big Cat (for itself and its successors and assigns) makes the following representations, declarations and warranties with the intent that the same be relied upon in determining the suitability of the undersigned as an investor in High Plains. The following representations, warranties and agreements shall survive the Closing Date.

	
(a)  

	
Big Cat has received, read carefully and understands all exhibits hereto

and public documents incorporated herein by reference.

(b) Big Cat is a corporation, duly incorporated, validly existing and in good standing under the laws of the State of Nevada and has qualified as a foreign corporation and is in good standing, under the laws of all jurisdictions where the failure to so qualify would have a material adverse effect on its business.  Big Cat has made available to High Plains true, complete and correct copies of its articles of incorporation and by-laws, as amended to date and Big Cat is not in violation of any of such charter documents.  The minute book of High Plains has been made available to Big Cat and is true, correct and complete in all material respects.

 

  

4

  

(c)           The execution, delivery and performance by Big Cat of this Agreement is within Big Cat’s legal right, power and capacity, requires no action by or in respect of, or filing with, any governmental body, agency, or official and does not and will not contravene, or constitute a default under, any provision of applicable law or regulation or of any agreement, judgment, injunction, order, decree or other instrument to which Big Cat is a party or by which Big Cat or any of its properties is bound. This Agreement constitutes, when executed and delivered, a valid and binding agreement of Big Cat, enforceable against Big Cat in accordance with its terms, except as such enforcement may be limited by bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium and other similar laws affecting creditors’ rights generally and by equitable principles.

(d) there are no material pending or threatened litigation or liabilities (contingent or otherwise) affecting the business of Big Cat not previously disclosed in the publicly available reports of Big Cat.

(e) Big Cat’s total issued and outstanding common equity as of November 19, 2010 was 43,844,334 shares of common stock and warrants and stock options to purchase 12,235,000 shares of restricted common stock at prices between $.14-$.75 per share.  All of such outstanding shares have been validly issued and are fully paid and  nonassessable.  No shares of Common Stock are subject to preemptive rights or any other similar rights or any liens or encumbrances suffered or permitted by Big Cat.  As of the date hereof and as disclosed above, (i) there are no undisclosed outstanding options, warrants, scrip, rights to subscribe to, calls or commitments of any character whatsoever relating to, or securities or rights convertible into, any shares of capital stock of Big Cat or any of its subsidiaries, or contracts, commitments, understandings or arrangements by which Big Cat or any of its subsidiaries is or may become bound to issue additional shares of capital stock of B ig Cat or any of its subsidiaries or options, warrants, scrip, rights to subscribe to, calls or commitments of any character whatsoever relating to, or securities or rights convertible into, any shares of capital stock of Big Cat or any of its subsidiaries, (ii) there are no outstanding debt securities (iii) there are no outstanding registration statements and (iv) there are no agreements or arrangements under which Big Cat or any of its subsidiaries is obligated to register the sale of any of their securities under the Securities Act (except pursuant to the Registration Rights Agreement).  There are no securities or instruments containing anti-dilution or similar provisions that will be triggered by this Agreement or any related agreement or the consummation of the transactions described herein or therein.

  

5

  

(f) there has been no material adverse change in the accuracy of the financial statements of Big Cat and any subsidiaries or in the business and financial condition of Big Cat not reported in the publicly filed reports of Big Cat.

(g) there has been no material default by Big Cat or any subsidiary under any material contract included in the business of Big Cat or any subsidiaries;

(h) High Plains has made available to Big Cat during the course of this transaction and prior to the purchase of any of the High Plains Stock, the opportunity to ask questions of and receive answers from representatives of High Plains concerning the terms and conditions of the offering described herein and to obtain any additional information necessary to verify the information contained in the Exhibits or otherwise relative to the financial data and business of High Plains, to the extent that such party possessed such information or can acquire it without unreasonable effort or expense, and all such questions, if asked, have been answered satisfactorily and all such documents, if examined, have been found to be fully satisfactory.

(i) Big Cat understands and acknowledges that:

(i) Big Cat must bear the economic risk of Big Cat’s investment in the High Plains Stock for an indefinite period.

(ii) the High Plains Stock has not been registered under the Securities Act or any state securities laws, as applicable, and is being offered and sold in reliance upon exemptions provided in the Securities Act and state securities laws, as applicable, for transactions not involving any public offering and, therefore, cannot be resold or transferred unless the High Plains Stock is subsequently registered under the Securities Act and applicable state laws or unless an exemption from such registration is available;

(iii) Big Cat is acquiring the High Plains Stock for investment purposes, only for the account of the Big Cat and not with any view toward a distribution thereof;

(iv) Big Cat is acquiring the High Plains Stock for Big Cat’s own account rather than as a representative or nominee of others;

  

6

  

(v) Big Cat has no contract, undertaking, agreement or arrangement with any person to sell, transfer or pledge to such person or anyone else any of the High Plains Stock which Big Cat hereby agrees to acquire or any part thereof, and big Cat has no present plans to enter into any such contract, undertaking, agreement or arrangement;

(vi) Big Cat understands that the High Plains Stock cannot be sold or transferred without compliance with applicable securities laws.

(vii) Big Cat understands that High Plains does not have any obligation or intention to register the High Plains Stock for sale under the Securities Act or any state or other securities laws;

(viii) Big Cat has no right to require the registration of the High Plains Stock under the Securities Act or state securities laws or other securities regulations;

(ix)  Big Cat consents that any certificates representing the High Plains Stock will bear a restrictive legend prohibiting the transfer of the High Plains Stock.  Big Cat further consents and agrees that the High Plains Stock is a restricted security which cannot be transferred or sold in the absence of registration or the availability of an exemption from registration, as determined by counsel.

 

 

(j) Big Cat is aware and acknowledges that the High Plains Stock involves substantial risk of loss and there is no assurance of any income from such investment and because there are substantial restrictions on the transferability of the High Plains Stock it may not be possible for Big Cat to liquidate its investment readily in any event, including in case of an emergency.

 

 

(k) Big Cat has evaluated the risks of investing in the High Plains Stock, and has determined that the High Plains Stock is a suitable investment for Big Cat.  Big Cat can bear the economic risk of this investment and can afford a complete loss of the investment in the High Plains Stock. In evaluating the suitability of an investment in the stock, Big Cat has not relied upon any representations or other information (whether oral or written) other than as set forth in this Agreement and the Exhibits hereto, as well as its knowledge of the business of High Plains and access to the documents and records of High Plains.

(l)   Any information which Big Cat has heretofore furnished to High Plains with respect to Big Cat is correct and complete as of the date of this Agreement.

  

7

  

(m) The representations, warranties, agreements, undertakings and acknowledgments made by Big Cat in this Agreement are made with the intent that they be relied upon by High Plains in determining Big Cat’s  suitability as a purchaser of the High Plains Stock, and shall survive Big Cat’s purchase.

	
7.  

	
Representations and Warranties of High Plains. High Plains understands

that the Big Cat Stock is being sold in reliance upon exemptions provided in the Securities Act of 1933 (the "Securities Act") or Regulation D thereunder for transactions involving private placement of limited offers and sales of its securities and High Plains (for itself and and its successors and assigns) makes the following representations, declarations and warranties with the intent that the same be relied upon in determining the suitability of the undersigned as an investor in Big Cat. The following representations, warranties and agreements shall survive the Closing Date.

(a) High Plains has received, read carefully and understands all exhibits hereto and public documents incorporated herein by reference.

(b) High Plains is a corporation, duly incorporated, validly existing and in good standing under the laws of the State of Nevada and has qualified as a foreign corporation and is in good standing, under the laws of all jurisdictions where the failure to so qualify would have a material adverse effect on its business.  High Plains has made available to Big Cat true, complete and correct copies of its articles of incorporation and by-laws, as amended to date and High Plains is not in violation of any of such charter documents.  The minute book of High Plains has been made available to Big Cat and is true, correct and complete in all material respects.

 

(c)           The execution, delivery and performance by High Plains of this Agreement is within High Plains' legal right, power and capacity, requires no action by or in respect of, or filing with, any governmental body, agency, or official and does not and will not contravene, or constitute a default under, any provision of applicable law or regulation or of any agreement, judgment, injunction, order, decree or other instrument to which High Plains is a party or by which High Plains or any of its properties is bound. This Agreement constitutes, when executed and delivered, a valid and binding agreement of High Plains, enforceable against High Plains in accordance with its terms, except as such enforcement may be limited by bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium and other similar laws affecting creditors’ rights generally and by equitable principles.

  

8

  

(d) there are no material pending or threatened litigation or liabilities (contingent or otherwise) affecting the business of High Plains not previously disclosed in the publicly available reports of High Plains.

(e) High Plains’ total issued and outstanding common equity as of December 3, 2010 does not exceed 87,000,000 shares of common stock.

(f) there has been no material adverse change in the accuracy of the financial statements of High Plains and any subsidiaries or in the business and financial condition of High Plains not reported in the publicly filed reports of High Plains

(g) there has been no material default by High Plains or any subsidiary under any material contract included in the business of High Plains or any subsidiaries;

(h) Big Cat has made available to High Plains during the course of this transaction and prior to the purchase of any of the Big Cat Stock, the opportunity to ask questions of and receive answers from representatives of Big Cat concerning the terms and conditions of the offering described herein and to obtain any additional information necessary to verify the information contained in the Exhibits or otherwise relative to the financial data and business of Big Cat, to the extent that such party possessed such information or can acquire it without unreasonable effort or expense, and all such questions, if asked, have been answered satisfactorily and all such documents, if examined, have been found to be fully satisfactory.

(i) High Plains understands and acknowledges that:

(i) High Plains must bear the economic risk of High Plains' investment in the Big Cat Stock for an indefinite period.

(ii) the Big Cat Stock has not been registered under the Securities Act or any state securities laws, as applicable, and is initially being offered and sold in reliance upon exemptions provided in the Securities Act and state securities laws, as applicable, for transactions not involving any public offering and, therefore, cannot be resold or transferred unless the Big Cat Stock is subsequently registered under the Securities Act and applicable state laws or unless an exemption from such registration is available;

(iii) High Plains is purchasing the Big Cat Stock for investment purposes, only for the account of the High Plains;

(iv) High Plains is investing in the Big Cat Stock for High Plains’ own account rather than as a representative or nominee of others;

  

9

  

(v) High Plains has no contract, undertaking, agreement or arrangement with any person to sell, transfer or pledge to such person or anyone else any of the Big Cat Stock which High Plains hereby agrees to purchase or any part thereof, and High Plains has no present plans to enter into any such contract, undertaking, agreement or arrangement;

(vi) High Plains understands that the Big Cat Stock cannot be sold or transferred without compliance with applicable securities laws

 (viii) High Plains has the right to require the registration of the Big Cat Stock and the Warrant Shares under the Securities Act or state securities laws or other securities regulations in accordance with the terms of the Registration Rights Agreement;

(ix)  High Plains consents that any certificates representing the Big Cat Stock will initially bear a restrictive legend prohibiting the transfer of the Big Cat Stock.  Subsequent to registration of the Big Cat Stock and the Warrant Shares, such certificates will not bear any restrictive legend.

 

 

(j) High Plains is aware and acknowledges that the Big Cat Stock involves substantial risk of loss and there is no assurance of any income from such investment and because there are substantial restrictions on the transferability of the Big Cat Stock it may not be possible for High Plains to liquidate its investment readily in any event, including in case of an emergency.

 

 

(k) High Plains has evaluated the risks of investing in the Big Cat Stock, and has determined that the Big Cat Stock is a suitable investment for High Plains. High Plains can bear the economic risk of this investment and can afford a complete loss of the investment in the Big Cat Stock. In evaluating the suitability of an investment in the Stock, High Plains has not relied upon any representations or other information (whether oral or written) other than as set forth in this Agreement and the Exhibits hereto, as well as its knowledge of the business of Big Cat and access to the documents and records of Big Cat.

(l)   Any information which High Plains has heretofore furnished to Big Cat with respect to High Plains is correct and complete as of the date of this Agreement.

(m) The representations, warranties, agreements, undertakings and acknowledgments made by High Plains in this Agreement are made with the intent that they be relied upon by Big Cat in determining High Plains' suitability as a purchaser of the Big Cat Stock, and shall survive High Plains' purchase.

  

10

  

9. Indemnification. Each party to this agreement recognizes that the offer of its stock to the other was made in reliance upon the investor’s representations and warranties set forth in Paragraphs 7 and 8 above.    Each party agrees to indemnify the other and any affiliates and to hold each other harmless from and against any loss, damage or liability due to or arising out of a breach of any representation, warranty or agreement contained in this Agreement or in any other document provided by one party to the other in connection with an investment in the stock of the other.   Each party further hereby agrees to indemnify the other and any affiliates, and to hold them harmless against all liabilities, costs or expenses (including reasonable attorneys' fees) arising as a result of the sale or distribution of the stock of the other in violation of the Securities Act or other applicable law or any misrepresentation or breach with respect to the matters set forth herein. In addition, each party agrees to indemnify the other and any affiliates and to hold such persons and firms harmless from and against, any and all loss, damage, liability or expense, including costs and reasonable attorneys' fees, to which they may be put or which they may incur or sustain by reason of or in connection with any misrepresentation made by them with respect to the matters about which representations and warranties are required by the terms of this Agreement, or any breach of any such warranties or any failure to fulfill any covenants or agreements set forth herein. Notwithstanding any provision of this Agreement, neither party waives any rights granted to it under applicable securities laws.

10. Fees and Expenses.  Except as otherwise specifically set forth herein, each party will bear its own attorneys, brokers, investment bankers, agents, and finders fees for any and all such advisors employed by such party.  Further, the parties will indemnify each other against any claims, costs, losses, expenses or liabilities arising from any claim for commissions, finder's fees or other compensation in connection with the contemplated transaction which may be asserted by any person based on any agreement or arrangement for payment by the other party.    The prevailing party in any litigation regarding the construction or enforcement of this Agreement shall be entitled to recover its costs and reasonable attorneys fees.

11. General. This Agreement (including Exhibits hereto)

	
(a)  

	
shall be binding upon the parties and their respective  successors and assigns,

	
(b)  

	
shall be governed, construed and enforced in accordance with the laws of the State of Nevada without reference to any principles of conflicts of law and each party consents to the exclusive jurisdiction of the courts of the state of Nevada in respect of any and all disputes arising under this Agreement

	
(c)  

	
  may be amended, modified or waived only with the written consent of the parties;

  

11

  

(d) may be executed in one or more counterparts, each of which shall be deemed an

original and all of which taken together shall constitute one and the same instrument.

	
  

	
(e) may not be transferred or assigned, without the prior written consent of both parties.

      (f) contains the entire contract between  the parties with respect to the transactions

contemplated hereunder and supersede all prior arrangements or understandings with respect thereto.

  

12

  

IN WITNESS WHEREOF, the undersigned have executed this Agreement as of the date first above written.

BIG CAT  ENERGY CORPORATION

/s/ Tim Barritt___________________________________

TIM BARITT, CEO & PRESIDENT

HIGH PLAINS GAS, INC.

/s/ Mark Hettinger___________________________________

MARK D. HETTINGER, CEO

  

13

  

Exhibit A

CERTIFICATE OF SECRETARY

Richard G. Stifel, corporate secretary of Big Cat Energy Corporation hereby certifies that the following resolutions were adopted by the Board of Directors of Big Cat Energy Corporation at a meeting of the Board duly called and held November 23, 2010:

RESOLVED                                that the Company enter into a Definitive Agreement with High Plains Gas, Inc.  for the sale of 20,000,000 shares of restricted common stock of the Company to High Plains Gas, Inc. for and in consideration of $600,000 payable $200,000 in cash and $400,000 in restricted common stock of High Plains with the $400,000 value based on a per share price of 75% of the volume weighted average trading price of the High Plains shares for the 5 days prior to the execution of this Agreement;  and

RESOLVED further that the Company issue 10,000,000 warrants to purchase restricted common stock of the Company to High Plains, such warrants being exercisable for a period of five years from the date of signature of the Definitive Agreement at an exercise price of $.15 per share; and

RESOLVED further that the Company shall enter into and execute a Registration Rights Agreement with High Plains Gas, Inc. of even date with the Definitive Agreement; and

RESOLVED further that the Company approves appointment of a nominee of High Plains, being _____________,  to serve as a member of the Board of Directors of the Company to commence service effective upon the Closing of the Definitive Agreement; and

RESOLVED further that the officers of the Company are authorized to carry out the intents and purposes of the foregoing resolutions.

DATED the 23 day of November, 2010

/s/ Richard G Stifel___________________________________

Richard G. Stifel, Corporate Secretary

  

14

  

Exhibit B

	
High Plains Gas, Inc.

	
SEC Periodic Reports 2008 - 2010

(does not include all filings – see www.SEC.gov)

	
Filings

	
Description

	
Filing Date

	
10QSB

	
Optional form for quarterly and transition reports of small business issuers

	
2/13/2008

	
10KSB

	
Optional form for annual and transition reports of small business issuers [Section 13 or 15(d), not S-B Item 405]

	
6/24/2008

	
8-K

	
Current report, item 5.02

	
8/18/2008

	
10-Q

	
Quarterly report [Sections 13 or 15(d)]

	
8/27/2008

	
8-K

	
Current report, item 5.02

	
10/30/2008

	
8-K

	
Current report, items 1.01 and 7.01

	
10/31/2008

	
10-Q

	
Quarterly report [Sections 13 or 15(d)]

	
11/14/2008

	
8-K

	
Current report, item 5.02

	
11/20/2008

	
10KSB/A

	
[Amend] Optional form for annual and transition reports of small business issuers [Section 13 or 15(d), not S-B Item 405]

	
11/26/2008

	
10KSB/A

	
[Amend][Cover] Optional form for annual transition reports of small business issuers [Section 13 or 15(d), not S-B Item 405]

	
11/26/2008

	
10KSB/A

	
[Amend][Cover] Optional form for annual and transition reports of small business issuers [Section 13 or 15(d), not S-B Item 405]

	
12/10/2008

	
10-Q

	
Quarterly report [Sections 13 or 15(d)]

	
2/10/2009

	
8-K

	
Current report, items 5.02 and 9.01

	
2/19/2009

	
10KSB/A

	
[Amend][Cover] Optional form for annual and transition reports of small business issuers [Section 13 or 15(d), no S-B item 405]

	
3/11/2009

	
DEF 14C

	
Other definitive information statements

	
4/9/2009

	
10-Q/A

	
[Amend] Quarterly report [Sections 13 or 15(d)]

	
5/1/2009

	
10-Q/A

	
[Amend] Quarterly report [Sections 13 or 15(d)]

	
5/1/2009

	
10-Q/A

	
[Amend] Quarterly report [Sections 13 or 15(d)]

	
5/1/2009

	
8-K

	
Current report, item 5.02

	
6/17/2009

	
10-K

	
Annual report [Section 13 and 15(d), no S-K Item 405]

	
6/29/2009

	
8-K

	
Current report, items 1.01 and 9.01

	
7/20/2009

	
8-K

	
Current report, items 1.01 and 9.01

	
7/29/2009

	
8-K

	
Current report, item 5.02

	
8/24/2009

	
10-Q

	
Quarterly report [Sections 13 or 15(d)

	
9/18/2009

	
8-K

	
Current report, items 5.02 and 9.01

	
11/4/2009

	
10-Q

	
Quarterly report [Sections 13 or 15(d)]

	
11/23/2009

	
10-Q

	
Quarterly report [Sections 13 or 15(d)]

	
2/22/2010

	
10-K

	
Annual report [Section 13 and 15(d), no S-K Item 405]

	
7/14/2010

	
8-K

	
Current report, items 1.01 and 9.01

	
8/4/2010

	
10-Q

	
Quarterly report [Section 13 or 15(d)]

	
8/20/2010

	
8-K

	
Current report, items 5.03, 8.01, and 9.01

	
10/6/2010

	
8-K

	
Current report, items 1.01, 2.01, 5.01 and 9.01

	
10/22/2010

  

15

  

Exhibit C

	
Big Cat Energy Corp.

	
SEC Periodic Reports 2008 - 2010

(does not include all filings – see www.SEC.gov)

	  
	
Filings

	
Description

	
Filing Date

	
8-K

	
Current report, items 7.01 and 9.01

	
1/23/2008

	
DEF 14C

	
Other definitive information statements

	
3/11/2008

	
10QSB

	
Optional form for quarterly and transition reports of small business issuers

	
3/14/2008

	
8-K

	
Current report, items 7.01 and 9.01

	
3/31/2008

	
8-K

	
Current report, items 3.02 and 9.01

	
5/7/2008

	
8-K/A

	
[Amend] Current report, items 3.02 and 9.01

	
5/13/2008

	
8-K

	
Current report, item 7.01

	
6/25/2008

	
10-K

	
Annual report [Section 13 and 15(d), not S-K Item 405]

	
7/29/2008

	
8-K

	
Current report, items 4.01 and 9.01

	
8/4/2008

	
10-Q

	
Quarterly report [Sections 13 or 15(d)]

	
9/11/2008

	
8-K

	
Current report, items 7.01 and 9.01

	
10/6/2008

	
8-K

	
Current report, item 4.01

	
11/3/2008

	
8-K/A

	
[Amend] Current report, items 4.01 and 9.01

	
11/10/2008

	
8-K

	
Current report, items 7.01 and 9.01

	
11/12/2008

	
10-Q

	
Quarterly report [Sections 13 or 15(d)]

	
12/10/2008

	
8-K

	
Current report, items 7.01 and 9.01

	
12/15/2008

	
8-K

	
Current report, items 7.01 and 9.01

	
3/9/2009

	
10-Q

	
Quarterly report [Sections 13 or 15(d)]

	
3/16/2009

	
8-K

	
Current report, item 8.01

	
4/10/2009

	
8-K

	
Current report, items 7.01, 8.01, and 9.01

	
4/20/2009

	
10-Q/A

	
[Amend] Quarterly report [Sections 13 or 15(d)]

	
5/4/2009

	
10-K/A

	
[Amend] Annual report [Section 13 and 15(d), not S-K Item 405]

	
5/5/2009

	
8-K

	
Current report, items 7.01 and 9.01

	
7/6/2009

	
8-K

	
Current report, item 5.02

	
7/10/2009

	
8-K

	
Current report, item 5.02

	
7/13/2009

	
10-K

	
Annual report [Section 13 and 15(d), not S-K Item 405]

	
7/29/2009

	
8-K

	
Current report, item 7.01

	
8/10/2009

	
8-K

	
Current report, items 8.01 and 9.01

	
8/31/2009

	
10-Q

	
Quarterly report [Sections 13 or 15(d)]

	
9/11/2009

	
8-K

	
Current report, item 9.01

	
10/21/2009

	
8-K

	
Current report, items 8.01 and 9.01

	
12/10/2009

	
10-Q

	
Quarterly report [Sections 13 or 15(d)]

	
12/11/2009

	
8-K

	
Current report, item 5.02

	
12/30/2009

	
10-Q

	
Quarterly report [Sections 13 or 15(d)]

	
3/8/2010

	
8-K

	
Current report, items 3.02 and 9.01

	
4/13/2010

	
10-K

	
Annual report [Section 13 and 15(d), no S-K Item 405]

	
8/10/2010

	
10-Q

	
Quarterly report [Sections 13 or 15(d)]

	
9/10/2010

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