Document:

greenchek_licenseagrment.htm

     

     

     

     

    
      AMENDMENT
NO. 2 TO LICENSE AGREEMENT

       

      THIS
AMENDMENT NO. 2 to the LICENSE AGREEMENT (“Amendment No.
2”) is made as of December 31, 2009 (the “Amendment No. 2
Effective Date”), by and among Greenchek Technology Inc., formerly
Ridgestone Resources Inc., a Nevada corporation hereinafter collectively
referred to as “Licensee” and China Bright
Technology Development Limited, a Hong Kong corporation, hereinafter referred to
as “China Bright” and
Lincoln Parke hereinafter referred to as “Principal” and, together
with China Bright, the “Licensor”.

       

      RECITALS

       

      WHEREAS, Licensee and Licensor
desire to amend the License Agreement entered into between them on July 10, 2008
(the “License Agreement”) and to further amend the Amendment to License
Agreement dated July 10, 2009;

      

      WHEREAS, Licensee has not
completed the performance of all of the terms and conditions of said License
Agreement and Amendment to License Agreement;

      

      Whereas,
Section 2 of the License Agreement provides for the payment by
Licensee to Licensor of a First Installment License Fee in an amount equal to
Three Hundred Thousand Dollars ($300,000) within thirty days of the execution of
the License Agreement, of which has been previously paid by Licensee, receipt of
which is acknowledged; a Second Installment License Fee of One Million Dollars
($1,000,000) by December 31, 2008 and further amended to extend the payment date
to December 31, 2009 of such Second Installment License Fee remains unpaid as of
the Amendment No. 2 Effective Date (the “Unpaid Second
Installment Fee”);

      

      Whereas,
Section 6(a) of the Amendment to License Agreement provides for the
payment by Licensee to Licensor of a Consideration Fee in an amount equal to
Five Hundred Thousand Dollars ($500,000) within thirty (30) days after signing
the Amendment to License Agreement of such Consideration Fee remains unpaid as
of the Amendment No. 2 Effective date (the “Unpaid Consideration
Fee”);

      

      Whereas,
Licensee and Licensor desire to amend the License Agreement and the
Amendment to License Agreement to provide for a reduced payment by Licensee of
Five Hundred Fifty Thousand Dollars ($550,000) (the “Reduced Second
Installment and Consideration Amounts”) which shall represent payment
IN FULL of the Unpaid
Second Installment Fee and the Unpaid Consideration Fee, which together
represent an aggregate principal amount of One Million Five Hundred Thousand
Dollars ($1,500,000) as set forth below; and;

      

      WHEREAS, the parties desire to
now amend License Agreement and Amendment to License Agreement in order to
modify certain terms of the License Agreement and Amendment to License
Agreement;

      

      NOW THEREFORE, in
consideration of the mutual promises contained herein, it is agreed that the
License Agreement dated July 10, 2008 and the Amendment to License Agreement
dated July 10, 2009 is amended in the following particulars:

      

      1. Defined Terms. Capitalized
terms used but not otherwise defined herein shall have the meanings set forth in
the License Agreement.

       

       

      
        
           

        

        
           

          
            

          

        

        
           

        

      

       

      
 

      2. Payment of Reduced Second Installment
and Consideration Amounts. Notwithstanding anything in the License
Agreement and Amendment to License Agreement to the contrary, Licensee shall pay
to Licensor the Reduced Second Installment and Consideration Amounts in full
within fourteen (14) days of the Amendment No. 2 Effective Date (“Amended
Deadline”). The Reduced Second Installment and Consideration Amounts
payment to Licensor (i) shall be made by check or wire transfer of
immediately available funds into an account designated in writing by Licensor;
and (ii) is nonrefundable and non-creditable against any other Licensee Fee
payments due Licensor under the License Agreement or Amendment to License
Agreement or this Amendment No. 2 to License Agreement. In consideration for
Licensee’s payment of the Reduced Second Installment and Consideration Amounts
by the Amended Deadline, Licensor shall forgive the amount of Nine Hundred Fifty
Thousand Dollars ($950,000) which represents the difference of Unpaid Second
Installment Fee plus Unpaid Consideration Fee minus Reduced Second Installment
and Consideration Amounts; provided, however,
that such forgiveness shall not waive Licensor’s right to receive such Unpaid
Second Installment Fee And Unpaid Consideration Fee, if such Reduced Second
Installment and Consideration Amounts is not paid in full by Licensee to
Licensor by the Amended Deadline.

      

      3. Termination for Payment Breach;
Effect of Termination. If Licensee fails to pay to Licensor the Reduced
Second Installment and Consideration Amounts in full by the Amended Deadline,
Licensor shall have the right to immediately terminate the License Agreement
without any ability or right of Licensee to cure. Notwithstanding Section 4
of the License Agreement, in the event of any termination of the License
Agreement, Licensee’s payment obligations with respect to the Reduced Second
Installment and Consideration Amounts and all amounts pursuant to Section 2
of the License Agreement and Amendment to License Agreement, shall survive such
termination of the License Agreement and Amendment to License Agreement and the
return by Licensee of the assets, know-how and information set forth in
Section 8.1 of the License Agreement.

      

      4. Effect of Amendment No. 2 to License
Agreement. Other than as expressly set forth herein, this Amendment No. 2
to License Agreement shall not constitute a waiver, amendment or modification of
any other provision of the License Agreement or Amendment to License Agreement
or any other provision not expressly referred to herein. All other provisions of
the License Agreement dated July 10, 2008 and the Amendment to License Agreement
dated July 10, 2009 shall remain in full force and effect.

      

       

      IN WITNESS WHEREOF, this
Amendment No. 2 to License Agreement has been duly executed by the parties this
31st day
of December 2009.

       

      Licensee:

      GREENCHEK
TECHNOLOGY INC. (Formerly Ridgestone Resources Inc.)

       

      BY:   
”Lincoln
Parke”              

      Name:  Lincoln
Parke

      Title:  President
and CEO

       

      Licensor:

      CHINA
BRIGHT TECHNOLOGY DEVELOPMENT LIMITED

       

      BY:       
”Chong
Lee”               

      Name:    Chong
Lee

      Title:      Director

       

      In their
personal capacity:

       

      BY:        
”Lincoln
Parke”         

      Name:      Lincoln
Parkeex10-1.htm

    EXHIBIT 10.1

     

    RESCISSION
AGREEMENT

     

     

    THIS RESCISSION AGREEMENT
("Rescission Agreement") is made and entered into by and between SPQR Energy, Inc., a
Texas corporation with offices at 19607 Piney Place Ct., Houston, Texas 77094,
its parent and affiliates (hereinafter collectively referred to as “Seller”) and
Exobox Technologies Corp., a Nevada corporation with offices at 2121 Sage Road,
Suite 200, Houston, Texas 77056 ("Buyer"), effective the 22nd day of October,
2009.

     

    W
I T N E S S E T H:

     

    That Seller and Buyer
desire to rescind and render null and void that certain Purchase and Sale
Agreement relating to oil and/or gas assets entered into between Buyer and
Seller effective the 22nd day of October 2009.  Accordingly, in
consideration of the mutual promises contained herein, the mutual benefits to be
derived by each party hereunder and other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged and agreed to, Buyer
and Seller agree as follows:

     

    SPECIFIC
PROVISIONS

     

    
      	
              1.

            	
              RESCISSION:  The
      Purchase and Sale Agreement pertaining to certain oil and/or gas assets
      entered into between Buyer and Seller effective October 22, 2009, a copy
      of which is attached hereto as Exhibit "A" ("Purchase and Sale
      Agreement"), is hereby rescinded in full and rendered null and void as if
      it were never entered into between Buyer and
  Seller.

            

    

     

    
      	
              2.

            	
              NO
      FURTHER RIGHTS:  Buyer and Seller each agrees that it
      shall have no further rights, entitlements, liabilities or obligations
      with respect to the Purchase and Sale Agreement and each expressly assumes
      and agrees to pay for all of its respective costs, fees, expenses and
      damages, if any, incurred in connection with the Purchase and Sale
      Agreement and this Rescission Agreement ("Claims"). Buyer and Seller each
      further expressly, fully and completely releases the other with respect to
      all Claims it has, had or may have against the
    other.

            

    

     

    
      	
              3.

            	
              FURTHER
      COOPERATION:  Buyer and Seller each shall execute,
      acknowledge, and deliver to the other all documents, and take all such
      acts which from time to time reasonably may be requested by the other
      party in order to carry out the purposes and intent of this Rescission
      Agreement.

            

    

     

    GENERAL
PROVISIONS

     

    
      	
              4.

            	
              AUTHORITY:  The
      parties represent to each other that each has the full authority to enter
      into this Agreement.

            

    

     

    
      	
              5.

            	
              COMPLETE
      AGREEMENT: This is the complete agreement of the Parties hereto
      regarding the subject matter of this Agreement, superseding all
      others.  No term or provision of this Agreement may be added,
      changed, modified, deleted or waived, in whole or in part, without the
      express, signed written consent of Buyer and
  Seller.

            

    

     

    
      	
              6.

            	
              GOVERNING
      LAW: This
      Agreement is made in Houston, Texas and is to be construed and enforced in
      accordance with the laws of the State of Texas applicable to contracts
      between residents of the State of Texas that are to be wholly performed
      within Texas and without regard to the choice of law or conflicts of law
      principles of Texas or any other jurisdiction.  All parties to
      this Agreement hereby irrevocably and unconditionally consent to the
      arbitration and venue provisions set forth in Paragraph No. 12 below and
      hereby irrevocably and unconditionally waive any defense of an
      inconvenient forum to the maintenance of arbitration as specified below,
      any objection to venue with respect to any such arbitration and any right
      of jurisdiction or venue on account of the place of residence or domicile
      of any party hereto.

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
      	
              7.

            	
              PARTIES
      BOUND:  This Agreement shall be binding on Buyer and
      Seller, their respective agents, representatives, assignees, successors,
      executors and
administrators.

            

    

     

    
      	
              8.

            	
              THIRD
      PARTY BENEFICIARIES:
      Except as expressly provided herein, this Agreement is solely
      between and for the benefit of Buyer and Seller, and no individual or
      entity that is not a signatory to this Agreement may enforce or claim any
      benefit under any of the provisions
  hereof.

            

    

     

    
      	
              9.

            	
              FURTHER
      ASSURANCES:  Buyer
      and Seller shall execute all such other documents and do such other things
      as may be reasonably required in order to effectuate, evidence, and/or
      confirm the intended purpose of this
  Agreement.

            

    

     

    
      	
              10.

            	
              CUMULATIVE
      REMEDIES:  The rights and remedies provided herein are
      cumulative and not exclusive of any rights or remedies provided by law or
      in equity, and may be pursued separately, successively, or
      concurrently.

            

    

     

    
      	
              11.

            	
              REPRESENTATIONS
      AND WARRANTIES:  Buyer and Seller each represents and
      warrants to the other that, as of the Effective Date:  (i) it
      has all requisite power and authority to enter into this Agreement and
      perform its obligations hereunder; (ii) the execution, delivery, and
      performance of its obligations under this Agreement have been duly
      authorized by it and this Agreement has been duly executed and delivered
      by its authorized representative; (iii) its execution and delivery of, and
      the performance of its obligations under, this Agreement will not (a)
      result in a breach of, or constitute a default under, any agreement,
      lease, or instrument (including any organizational instrument or document)
      to which it is a party or by which it or its properties may be bound or
      affected, or (b) violate any applicable legal requirement, including any
      law, rule, regulation, statute, ordinance, writ, order, or determination
      of an arbitrator or a court or other governmental authority; (iv) no
      litigation, investigation, or other legal, administrative, or arbitration
      proceeding is pending or, to the best of its best knowledge, threatened
      against it or any of its properties or revenues, existing or future, which
      if adversely determined could prevent the performance of or have a
      material adverse effect on its ability to perform its obligations
      hereunder; and (v) its obligations under this Agreement are legal, valid,
      and binding against it, except to the extent enforcement may be limited by
      applicable bankruptcy, insolvency, reorganization, or other similar legal
      requirements affecting creditor's rights generally and by principles of
      equity.

            

    

     

     

     

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

    
      	
              12.

            	
              ARBITRATION
      AND VENUE: In
      the event of any dispute(s) (as defined herein below) arising out of or
      relating to this contract, or the breach thereof, the parties agree to
      participate in at least four (4) hours of mediation in accordance with the
      commercial mediation rules of the American Arbitration Association before
      having recourse to arbitration.  If the mediation procedure
      provided for herein does not resolve any such dispute, the parties agree
      that all disputes between the parties shall be resolved solely by binding
      arbitration administered by the American Arbitration Association in
      accordance with its commercial arbitration rules pursuant to the Federal
      Arbitration Act, 9 U.S.C. Sections 1-14 (in the event this act shall be
      held to be inapplicable, then the provisions of the Texas General
      Arbitration Act shall apply.)  Judgment upon the award rendered
      by the arbitrator may be entered in any Court having
      jurisdiction.  The term “dispute(s)” shall include, but is not
      limited to all claims, demands and causes of action of any nature, whether
      in contract or in tort, at law or in equity, or arising under or by virtue
      of any state or federal constitution, statute or regulation or judicial
      reasons, that are now recognized by law or that may be created or
      recognized in the future, for resulting past, present and future personal
      injuries, contract damages, intentional and/or malicious conduct, actual
      and/or constructive fraud, statutory and/or common law fraud, class action
      suit, misrepresentations of any kind and/or character, libel, slander,
      negligence, gross negligence, and/or deceptive trade practices/consumer
      protection act damages, all attorney’s fees, all penalties of any kind,
      prejudgment interest and costs of court by virtue of the matters alleged
      and/or matters arising between the parties.  The award of the
      arbitrator issued pursuant herein shall be final, binding and
      non-appealable.  The parties hereby waive any rights to punitive
      or exemplary damages and the Arbitrator(s) will not have the authority to
      award exemplary or punitive damages to either party.  Venue for
      any mediation or arbitration provided for by these provisions shall be
      Harris County, Texas.  Notwithstanding anything to the contrary
      in the aforementioned arbitration rules, no arbitration shall exceed a
      total of twelve (12) hours per dispute unless extended by mutual signed,
      written agreement of the parties.  Any suit for injunctive
      relief brought to protect the assets at issue pending resolution pursuant
      to this paragraph shall be brought in a court of competent jurisdiction in
      Harris County, Texas.

            

    

     

    
      	
              13.

            	
              NOTICE:
      Any notice required to be given under this Agreement shall be (i) sent by
      certified mail, return receipt requested; (ii) faxed as set forth herein;
      (iii) e-mailed as set forth herein or (iv) hand
      delivered.  Notice shall be effective upon the earlier of actual
      receipt by the Party to whom said notice is sent or the expiration of
      three (3) business days if sent by certified mail, return receipt
      requested.  Notice sent by fax or e-mail shall be effective upon
      receipt by the Party to whom said notice is sent if received on regular
      business days between the hours of 9:00 a.m. and 5:00 p.m.; provided,
      however, that notice received by fax or e-mail after 5:00 p.m. and before
      9:00 a.m. the next business day shall be deemed to have been received at
      9:00 a.m. the first business day following receipt of said
      notice.  Hand delivered notice shall be effective only upon
      actual receipt by the Party to whom said notice is
      sent.  Notices sent hereunder shall be addressed as
      follows.

            

    

     

     

     

     

     

     

     

     

     

     

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

    If by
certified mail, return receipt requested, or by hand delivery to Buyer,
then:

     

    Richard
J. Kampa, CEO

    Exobox
Technologies Corp.

    2121 Sage
Road, Suite 200

    Houston,
Texas  77056

     

    With a
copy not constituting notice to:

     

    Thomas
Pritchard

    Brewer
& Pritchard, P.C.

    3
Riverway, 18th
Floor

    Houston, Texas
77056

     

    Or, if by
fax to Buyer, then: (713) 625-7890,

     

    With a
non-notice copy to Thomas Pritchard: (713) 209-2921.

     

    Or, if by
e-mail to Buyer, then: Richard.Kampa@exobox.com.

     

    With a non-notice copy to
Thomas Pritchard: Pritchard@bplaw.com.

     

    If by
certified mail, return receipt requested, or by hand delivery to Seller,
then:

     

    Claudio
Roman

    19607
Piney Point Ct.

    Houston,
Texas 77094

     

    Or, if by
fax to Seller, then: (832) 553-2803,

    
    

     

    
      	 	Or if by e-mail to
      Seller, then	

    

     

                      

    
      	
              14.

            	
              SEVERABILITY:  If
      any term or provision hereof is held to be unenforceable, in whole or in
      part, by any court, arbitration panel or other entity having valid
      jurisdiction to construe or enforce this Agreement, then said term or
      provision shall be amended or deleted as necessary, and the remaining
      portions of this Agreement shall continue in full force and
      effect.

            

    

     

    
      	
              15.

            	
              TIME:  Time
      shall be of the essence of this
  Agreement.

            

    

     

    
      	
              16.

            	
              HEADINGS:
      All headings used herein are for convenience only and shall not be used or
      referred to in the construction, amendment or interpretation of any term
      or provision of this
Agreement.

            

    

     

    
      	
              17.

            	
              AMBIGUITY:  If
      an ambiguity or question of intent or interpretation arises, this
      Agreement shall be construed as if drafted jointly by all parties to this
      Agreement, and no presumption or burden of proof shall arise favoring or
      disfavoring any party by virtue of the authorship of any of the provisions
      of this Agreement.

            

    

     

     

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

    
      	
              18.

            	
              GENDER
      AND TENSE: Unless the text specifically requires otherwise, the
      masculine shall include the feminine, the feminine shall include the
      masculine, the singular shall include the plural and the plural shall
      include the singular.

            

    

     

    
      	
              19.

            	
              ASSIGNMENT:  Neither
      Buyer nor Seller may assign this Agreement or any of its rights and
      obligations hereunder, whether voluntarily, involuntarily, or by operation
      of law, to any person or entity without the other Party’s prior, written
      consent.

            

    

     

    
      	
              20.

            	
              COUNTERPART
      AND FACSIMILE SIGNATURES:  This Agreement may be executed
      simultaneously in two or more counterparts, each of which shall be deemed
      an original, but all of which taken together shall constitute one and the
      same instrument.  Execution and delivery of this Agreement by
      exchange of facsimile copies bearing the facsimile signature of a party
      hereto shall constitute a valid and binding execution and delivery of this
      Agreement by such party.  Such facsimile copies shall constitute
      enforceable original
documents.

            

    

     

    
      	
              21.

            	
              ACKNOWLEDGEMENT: EACH
      PARTY SPECIFICALLY ACKNOWLEDGES AND AGREES (1) THAT IT HAS READ THIS
      AGREEMENT AND IS CHARGED WITH NOTICE AND KNOWLEDGE OF THE TERMS HEREOF,
      AND (2) THAT IT IS FULLY INFORMED AND HAS FULL NOTICE AND KNOWLEDGE OF THE
      TERMS, CONDITIONS AND EFFECTS OF THIS AGREEMENT.  EACH PARTY
      FURTHER AGREES THAT IT WILL NOT CONTEST THE VALIDITY OR ENFORCEABILTIY OF
      ANY SUCH PROVISIONS OF THIS AGREEMENT ON THE BASIS THAT THE PARTY HAD NO
      NOTICE OR KNOWLEDGE OF SUCH PROVISIONS OR THAT SUCH PROVISIONS ARE NOT
      “CONSPICUOUS’.  IN ADDITON, EACH PARTY ACKNOWLEDGES AND AGREES
      THAT NO CONSIDERATION SHALL BE GIVEN TO THE FACT OR PRESUMPTION THAT ONE
      PARTY HAD A GREATER OR LESSER ROLE IN THE DRAFTING OF THIS AGREEMENT, OR
      ANY PORTION THEREOF, AND THAT EXAMPLES SHALL NOT BE CONSTRUED TO LIMIT,
      EXPRESSLY OR BY IMPLICATION, THE MATTER THEY
      ILLUSTRATE.

            

    

     

    
      	
              22.

            	
              EFFECTIVE
      DATE: This
      Agreement is executed in multiple originals effective the date first set
      forth above.

            

    

     

    IN
WITNESS WHEREOF, the Parties hereto have caused their authorized representatives
to execute this Agreement effective on the date first above
written.

    

     

     

     

    
      
        
        

      

      
        5

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