Document:

CC Filed by Filing Services Canada Inc. 403-717-3898

Exclusive Licensing Agreement Letter

		
	DATE:

	August 15, 2008

This agreement is between:

	
	Constant Environment, Inc.

With Head Office at:

1310 Contour Drive, Mississauga, Ontario.  Canada.  L5H 1B2

(Hereafter referred to as LICENSEE)

	         

                       and,

      

	  Micro Climate Technology Inc. 

With Head Office at:

4271 Longmoor Drive, Burlington, ON.  Canada.  L7L 5A4

(Hereafter referred to as LICENSOR.)

		
	PRODUCT & SERVICE being Licensed:

	Exclusive rights to the LICENSOR’S patented Micro Climate Generator technology, designs, MCG30 Micro Climate Generator technology and design, and all related consulting and sales opportunities that arise from the technology.  

		
	TERRITORY:

	All territories, domestic & International

		
	TERM:

	Renewable five (5) year term that becomes perpetual once MAXIMUM ROYALTY condition is met.  

		
	TERM RENEWAL or EXTENSION:

	The agreement will automatically be renewed for an additional TERM once the MINIMUM ROYALTY is achieved.   If the MINIMUM ROYALTY is not achieved during the TERM of the agreement, the LICENSEE will have an option during the following three months to pay the LICENSOR the outstanding balance to renew another TERM.  The Term can also be renewed and extended at anytime during term by mutual consent, and LICENSOR will give LICENSEE first opportunity to renew agreement as long as LICENSEE is active in their effort to promote and sell the PRODUCT & SERVICE. 

		
	CONDITIONS:

	·

LICENSOR agrees to provide LICENSEE with unrestricted and exclusive rights to the Micro Climate Generator technology, designs, drawings, technical documentation, material lists, and technical support. 

·

LICENSEE and associated companies and agents agree to produce, market, and sell the products and associated consulting services.  

·

Once the LICENSEE’S cumulative royalty payments meet the MAXIMUM ROYALTY amount, the LICENSEE will no longer be obligated to make royalty payments and will have exclusive and unrestricted rights to the licensed PRODUCT & SERVICE.

Page 1 of 3

Exclusive Licensing Agreement Letter

		
	ROYALTY:

	LICENSEE will pay LICENSOR a Royalty of two thousand five hundred ($2,500.00) Canadian dollars for each MCG30, or machine based on the MCG30 plateform, sold. .  LICENSEE will report related invoiced sales  monthly, and royalty payments will be made monthly based on receipt of customer payments from the previous month.   Payments will continue until the agreement is terminated or the LICENSEE meets the MAXIMUM ROYALTY amount.

		
	MINIMUM ROYALTY:

	Minimum Royalty payable per TERM is one hundred thousand Canadian dollars ($100,000).

		
	MAXIMUM ROYALTY:

	Maximum Royalty payable is two hundred thousand Canadian dollars ($200,000). 

		
	TERMINATION:

	This agreement can be terminated by specified conditions in this agreement or upon both parties mutually agreeing to terminate this agreement, with reasonable notice and transition time.  

		
	PACKAGING:

	All costs associated with the production of packaging for the LICENSEE are at the LICENSEE’S expense. 

		
	MARKETING:

	All costs associated with the production of Marketing materials for the LICENSEE are at the LICENSEE’S expense (Packaging, TV commercials, Promotional ads, etc).

		
	LIABILITY:

	LICENSOR assumes no liability on behalf of the LICENSEE, and will have no liability for the actions, or lack thereof, of the LICENSEE.

		
	SUCCESSORS & ASSIGNS:

	This Agreement shall enure to the benefit of and be binding upon the respective heirs, executors, administrators and assigns of each of the parties hereto.

		
	TRANSFERABILITY:

	This agreement is not transferable without the written approval of all parties.

		
	HEADINGS:

	The headings of the paragraphs hereof are inserted for convenience of reference only and shall not affect the interpretation or construction of this Agreement.

		
	GOVERNING LAW:

	This Agreement shall be governed by and construed in accordance with the laws of the Province of Ontario Canada.

Page 2 of 3

Exclusive Licensing Agreement Letter

The signing parties agree to the terms stated above.

		
	Constant Environment, Inc.

	Micro Climate Technology

	(LICENSEE)

	(LICENSOR)

	 
	 

	__________________________________________

Signature of Authorized signing Officer

	_________________________________________

Signature of Authorized signing Officer

	 
	 

	_________________Jeff Mak   ____________

Name of Authorized signing Officer – Printed

	______Al Jacobs____________________

Name of Authorized signing Officer – Printed

	 
	 

	_________________CEO___________________

Position of Authorized signing Officer

	______ President____________________

Position of Authorized signing Officer

Page 3 of 3CC Filed by Filing Services Canada Inc. 403-717-3898

CONSULTING AGREEMENT

EXHIBIT 10.1

CONSULTING AGREEMENT

This CONSULTING AGREEMENT (the “Agreement”) is entered into as of November 7th 2008 by and between Hollund Industrial Marine, Inc., a Washington corporation (“Hollund”), and Valor Energy Corp., a US corporation (“Valor”).

RECITALS

WHEREAS, Hollund desires to engage Valor as a consultant to a project involving the development, production, and testing of the TigerLynk Underwater Remote Manipulating System, (the “Machine’); and

WHEREAS, Valor desires to provide consulting services to Hollund as part of the terms of the Agreement;

NOW, THEREFORE, in consideration of the mutual promises, undertakings and agreements below, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:

AGREEMENT

A. Services.

Valor will provide consulting services to Hollund during the development, production and testing of the Machine. Valor’s role will be one of project oversight. Valor will guide third-party contractors in the performance of the required work. Valor will provide to Hollund knowledge and project coordination expertise with the focus on;

i.

Assisting in the coordination of consultants, engineers and manufacturers before and during the construction of the Machine, and;

ii. 

Transferring of applicable knowledge experience to Hollund reps and consultants with the objective of preparing Hollund to continue future developments without the assistance of Valor. It will be the responsibility of Hollund to provide such person(s) for training during this period.

B. Compensation.

Hollund agrees to pay Valor a monthly fee of twelve thousand five hundred ($12,500) US dollars for eight (8) consecutive months for a total of one hundred thousand ($100,000) US dollars, commencing on the project funding date (the “Consultant Fee”). Valor will be responsible for hiring a full-time employee to act as a lead consultant under the exclusive oversight of Valor and its Board of Directors.

Hollund agrees to pay Valor a one-time fee of twenty five thousand ($25,000) US dollars, due upon the successful completion of production and testing of the Machine (the “Technology Support Fee”).

Valor will be responsible for all travel and incidental expenses related to the construction and testing of the Machine. 

 

C. Bonus.  

If Hollund should sell the technology to another party, Valor would be entitled to receive a one-time payment of fifty thousand ($50,000) US dollars, payable upon Hollund’s receipt of funds for the technology (the “Bonus”).

D. Marketing Rights.

Hollund agrees to grant Valor the conditional right to market Tigerlynk in North America for exclusive use by the oil and gas industry, provided (i) the machine is successfully completed and tested in a local lake in British Columbia within six (6) months of the project funding date and (ii) the machine is successfully completed on budget. These rights shall have a term of two years, commencing from the date of completion of successful testing. These rights shall be further extended for an additional term of two years, provided that Valor is able to secure sales of at least two (2) Tigerlynk units during the initial two-year term.

E. Waiver.

If Hollund should sell the technology to another party, Valor agrees to waive any marketing rights granted in this agreement upon Valor’s receipt of the Bonus

F. Disclaimer.

Valor will use its best efforts and act in good faith towards the accomplishments of Hollund objectives, including the completion of the Machine by Hollund’s deadline. However, Valor will not be held responsible for any technical failures that occur and will not be held responsible for failure to meet Hollund objectives. Valor is not providing a guarantee to Hollund, rather only its best efforts to accomplish Hollund objectives.

 

F. Representations.

Each signatory hereto acknowledges that he/she is authorized to sign on behalf of his/her respective parties.

IN WITNESS WHEREOF, THIS AGREEMENT SHALL BE MADE EFFECTIVE AS OF THE DATE WRITTEN ABOVE.

HOLLUND INDUSTRIAL MARINE, INC.

_\S\ Michael Lacy__________

Michael Lacy, President

/CEO

VALOR ENERGY CORP.

__\S\ Sheridan Westgarde___

Sheridan Westgarde, CEOCC Filed by Filing Services Canada Inc. 403-717-3898

EXHIBIT 10.1

ADDENDUM B

to the

PURCHASE & SALE AGREEMENT DATED JANUARY 20, 2008, THE LETTER AGREEMENT DATED FEBRUARY 20, 2008 AND THE ADDENDUM TO THE LETTER AGREEMENT DATED MARCH 25, 2008

made by and between Hollund Industrial Robotics Inc

and 

Valor Energy Corp.

(formerly Aquatic Cellulose International Corp.)

Reference is herein made to the Tiger•Lynk Purchase & Sale Agreement dated January 20, 2008, the Letter Agreement dated February 20, 2008 and the Addendum to the Letter Agreement dated March 25, 2008 made by and between Hollund Industrial Robotics Inc, a Canadian corporation (“Buyer”), and AQUATIC CELLULOSE INTERNATIONAL CORP, a Nevada corporation (“Seller”), collectively herein referred to as the “parties”.

This addendum is to document certain adjustments to the method of payment agreed to by the parties. 

The parties hereby agree to the following; 

1.

The amount owed to Aquatic of $205,000, as of June 24, 2008, shall hereby be amended to $140,000, due and payable according to the following amended terms;

a.

The sum of $30,000 will be paid on or before July 15th 2008.

b.

The sum of $30,000 will be paid on or before Sept 15th 2008.

c.

The remainder of $80,000 will be paid in three payments made on the first of each month starting December 1st 2008, and ending with the last payment on February 1st 2008.

2.

Lonnie Hayward will sign and send original signed copy of the two (2) auditor’s confirmation letters (attached hereto as Exhibit A and B) to Valor Energy 121G Shuswap St. Salmon Arm BC. Canada V1E 4P2. 

3.

Lonnie Hayward will transfer all authority and administrative control to any rights regarding valor energy trade marks, trade names or domain names, including valorenergy.com, and provide any information that may be reasonable required for the transfer of such.

 

4.

As of the signing of this agreement Hollund will no longer be in default under the terms of the agreement.

5.

New Terms of Default: Provided that the payments stipulated in section 1. a. and b. above are made in the timely manner specified, Valor will hereby waive its right to act upon any further payment default until Feb 2, 2009.

Each signatory hereto acknowledges that he/she is authorized to sign on behalf of his or her respective parties.

IN WITNESS WHEREOF, THIS ADDENDUM SHALL BE EFFECTIVE AS OF June 24 2008.

	HOLLUND INDUSTRIAL ROBOTICS INC.	
VALOR ENERGY CORP. (formerly AQUATIC CELLULOSE INTERNATIONAL CORPORATION)

    
	
 \S\ Lonnie Hayward                    

\S\Sheridan Westgarde     

Lonnie Hayward, President

Sheridan Westgarde, CEO

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