Document:

PROMISSORY NOTE
                                 ---------------

$2,000,000.00                   Houston, Texas           Effective July 31, 2009

For value received, LAZARUS LOUISIANA REFINERY II, LLC ("Borrower"), promises to
pay to the order of BLUE DOLPHIN ENERGY COMPANY ("Lender") at 801 Travis Street,
Suite 2100, Houston,  Texas 77002, or at such other address as Lender shall from
time to time  specify in writing,  the  principal  sum of TWO MILLION AND NO/100
DOLLARS  ($2,000,000.00),  in legal and  lawful  money of the  United  States of
America,  on the outstanding  principal from the date advanced until paid at the
rate set out below.

1.       Payment  Terms.  This Note is due and  payable as  follows:  The unpaid
principal balance of this Note shall all be due and payable in full on or before
January 31, 2010.

2.       Late  Charge.  Upon  maturity  of  this  Note,  if any  portion  of the
outstanding principal balance (plus all accrued but unpaid interest) is not paid
within 10 days of the  maturity  date,  Borrower  will be charged a  delinquency
charge of 5% of the sum of the outstanding  principal  balance (plus all accrued
but unpaid  interest).  Borrower  agrees  with Lender that the charges set forth
herein  are  reasonable  compensation  to Lender for the  handling  of such late
payments. All past due installments of principal shall bear interest at the rate
of eighteen  percent (18%) per annum,  with no  compounding.  All payments shall
first be applied to accrued  interest,  if any,  with the balance of the payment
reducing the unpaid principal balance hereof.

3.       Prepayment. Borrower shall have the right to prepay, prior to maturity,
all or any part of the principal of this Note without penalty.  All payments and
prepayments  of principal or interest on this Note shall be made in lawful money
of the United States of America in immediately  available  funds, at the address
of Lender indicated herein, or such other place as the holder of this Note shall
designate in writing to Borrower

4.       Default.  The occurrence or existence of any of the following events or
conditions shall constitute an "Event of Default":

                  (a) the  failure  of the  Borrower  to pay when due any of the
principal or interest payable pursuant to this Note;  provided however, an Event
of Default shall not arise  hereunder  until the  expiration of thirty (30) days
after the maturity  date if prior to the  maturity  date,  Borrower  provides to
Lender a written  loan  commitment  from a third  party  lender  evidencing  its
commitment to loan money to Borrower  within thirty (30) days after the maturity
date;

                  (b)  the  assignment  by  the  Borrower  for  the  benefit  of
creditors or the application by the Borrower to any court for the appointment of
a trustee  or  receiver  for any of the  assets of the  Borrower  that have been
pledged  to  secure  the  repayment  of  the  Note  or the  commencement  of any
proceedings  relating  to the  Borrower  under any  bankruptcy,  reorganization,
arrangement,  readjustment of debts or other insolvency law of any jurisdiction,
or the entering of an order  appointing such trustee or receiver or adjudicating
the  Borrower  bankrupt  or  insolvent  or  approving  the  petition in any such
proceedings;

<PAGE>

                  (c) the  breach or  violation  by the  Borrower  of any of its
agreements  or  covenants  contained  in this Note,  other  than the  payment of
principal  or  interest,  or in any other  document  or  agreement  between  the
Borrower  and the Lender  concerning  the  indebtedness  evidenced by this Note,
including,  but not limited to, the Mortgage and Security Agreement described in
Section 13 of this Note.

                  (d) any prepayment of (i) the  indebtedness of the Borrower to
Notre Dame Investors, Inc. ("Notre Dame") existing as of the date hereof or (ii)
the future indebtedness of the Borrower to Rio Vista Energy Partners, L.P. ("Rio
Vista")  or any of its  affiliates,  which  is made out of the  proceeds  of any
future  loan  received  by the  Borrower  or its  affiliates  and is not made in
accordance with the following order of repayment on a proportionate  basis based
on relative principal  balances:  (i) first to Notre Dame and (ii) second to the
Lender and Rio Vista or its applicable affiliate.

If an event of default shall occur,  the holder hereof may, at the option of the
holder,  without  demand,  notice or  presentment,  declare  the  entire  unpaid
principal  balance of this  Note,  together  with all  accrued  unpaid  interest
thereon,  to be due and  payable  immediately.  Upon any such  declaration,  the
principal  of this  Note and any  such  accrued  interest  shall  become  and be
immediately  due and payable,  and the holder  hereof may  thereupon  proceed to
protect and enforce the obligations of the Borrower  hereunder either by suit in
equity or by  action of law or by other  appropriate  proceedings,  whether  for
specific  performance  (to the  extent  permitted  by law)  of any  covenant  or
agreement  contained  herein  or in aid of the  exercise  of any  power  granted
herein,  or proceed to enforce  the payment of this Note or to enforce any other
legal or equitable  right of the holder hereof.  In the event default is made in
the prompt payment of this Note when due or declared due, and the same is placed
in the hands of an attorney for  collection,  or suit is brought on same, or the
same is collected  through  probate,  bankruptcy or other judicial  proceedings,
then the Borrower agrees and promises to pay all costs of collection,  including
reasonable attorney's fees.

5.       Joint and Several  Liability;  Waiver.  Each borrower,  maker,  signer,
surety  and  endorser  hereof,  as  well  as all  heirs,  successors  and  legal
representatives  of said parties,  shall be directly and primarily,  jointly and
severally,  liable for the  payment of all  indebtedness  hereunder.  Lender may
release or modify the  obligations of any of the foregoing  persons or entities,
or  guarantors  hereof,  in  connection  with this loan  without  affecting  the
obligations of the others.  Except as  specifically  provided  herein,  all such
persons or entities  expressly waive presentment and demand for payment,  notice
of default,  notice of intent to accelerate maturity,  notice of acceleration of
maturity,  protest, notice of protest, notice of dishonor, and all other notices
and demands for which  waiver is not  prohibited  by law,  and  diligence in the
collection hereof; and agree to all renewals, extensions,  indulgences,  partial
payments,   releases  or  exchanges  of  collateral,  or  taking  of  additional
collateral,  with or  without  notice,  before  or after  maturity.  No delay or
omission of Lender in exercising any right  hereunder  shall be a waiver of such
right or any other right under this Note.

6.       No Usury  Intended;  Usury Savings  Clause.  In no event shall interest
contracted  for,  charged  or  received  hereunder,  plus any other  charges  in
connection  herewith  which  constitute  interest,  exceed the maximum  interest
permitted  by  applicable  law.  The amounts of such  interest or other  charges
previously paid to the holder of the Note in excess of the amounts  permitted by
applicable  law  shall  be  applied  by the  holder  of the Note to  reduce  the
principal of the  indebtedness  evidenced by the Note,  or, at the option of the
holder of the Note,  be refunded.  To the extent  permitted by  applicable  law,
determination of the legal maximum amount of interest shall at all times be made
by  amortizing,  prorating,  allocating  and spreading in equal parts during the

                            Promissory Note - Page 2

<PAGE>

period of the full stated term of the loan and indebtedness, all interest at any
time contracted for,  charged or received from the Borrower hereof in connection
with the loan and  indebtedness  evidenced  hereby,  so that the actual  rate of
interest on account of such indebtedness is uniform throughout the term hereof.

7.       Texas  Finance Code. In no event shall Chapter 346 of the Texas Finance
Code (which regulates  certain  revolving loan accounts and revolving  tri-party
accounts)  apply to this  Note.  To the  extent  that  Chapter  303 of the Texas
Finance  Code and/or  Articles  1D.002 and 1D.003 of the Texas  Credit Title are
applicable to this Note, the "weekly  ceiling"  specified in such article is the
applicable  ceiling;  provided  that,  if any  applicable  law  permits  greater
interest, the law permitting the greatest interest shall apply.

8.       Governing Law, Venue. This Note is being executed and delivered, and is
intended to be  performed  in the State of Texas.  Except to the extent that the
laws of the United States may apply to the terms hereof, the substantive laws of
the State of Texas shall  govern the  validity,  construction,  enforcement  and
interpretation  of this Note. In the event of a dispute  involving  this Note or
any  other  instruments  executed  in  connection   herewith,   the  undersigned
irrevocably  agrees  that  venue  for such  dispute  shall  lie in any  court of
competent jurisdiction in Harris County, Texas.

9.       Captions.  The captions in this Note are inserted for convenience  only
and are not to be used to limit the terms herein.

10.      Notices.  All  notices,  requests,  demands  and  other  communications
required or permitted  hereunder shall be in writing,  and shall be deemed to be
given or delivered when actually received by the party to whom directed,  or, if
earlier and regardless of whether actually received, upon deposit in a regularly
maintained  receptacle  for the United  States mail,  registered  or  certified,
postage  fully  prepaid,  addressed to the party to whom directed at its address
set forth  below or at such  other  address  as such  party may have  previously
specified by notice actually received by the other party:

         If to Borrower:            Lazarus Louisiana Refinery II, LLC
                                    801 Travis Street, Suite 2100
                                    Houston, Texas  77002

         If to Lender:              Blue Dolphin Energy Company
                                    801 Travis Street, Suite 2100
                                    Houston, Texas 77002

11.      No Shop.  Until this Note has been paid in full,  Borrower  agrees that
neither it nor any of its affiliates or members will enter into any  discussions
or  negotiations,  or  solicit,  encourage  or make any offer,  relating  to the
acquisition of any equity  interest or any material assets of Borrower or any of
its affiliates  (other than with respect to the Longview,  Texas  facility,  the
Church Point,  Louisiana facility,  and any transaction with Rio Vista or any of
its affiliates  involving the Regional facility),  or provide any information to
any party to facilitate or otherwise in connection with the same.  Lender agrees
that neither it nor any of its  affiliates  will enter into any  discussions  or
negotiations,  or  solicit,  encourage  or  make  any  offer,  relating  to  the
acquisition  of any equity  interest or any material  assets of Lender or any of
its  affiliates,  or  provide  any  information  to any party to  facilitate  or
otherwise  in  connection  with  the  same,  until  the  first  to  occur of the
following:  (i) an Event of Default pursuant to this Note or (ii) the failure of
the Bridge Loan Closing to occur on or before July 15, 2009,  regardless  of the

                            Promissory Note - Page 3

<PAGE>

reason for the failure to close a transaction. Nothing set forth in this Section
shall be construed to mean that the parties have agreed to close any transaction
other than the loan  evidenced by this Note,  or agreed to agree with respect to
any such other transaction.

12.      Original Note. Lazarus Energy Holdings, LLC has previously executed and
delivered  to Lender a  Promissory  Note  dated June 2,  2009,  in the  original
principal  amount of $100,000  (the  "Original  Note").  This Note  replaces the
Original Note with respect to the  indebtedness  represented  thereby,  and also
evidences the obligation to repay the loan of $200,000 made by the Lender to the
Borrower on July 1, 2009,  and the  additional  loan of  $1,700,000  made by the
Lender to the Borrower on the date hereof.  This Note shall not be  considered a
novation or discharge of the Original Note.

13.      Mortgage and Security Agreement.  The indebtedness  represented by this
Note  is  secured  pursuant  to  (i) a  Mortgage  dated  the  date  hereof  (the
"Mortgage")  granting  to  Lender a prior  and  perfected  first  lien  security
interest to secure the  payment of this Note  against  the  approximately  3.673
acres of real property located in Jefferson Davis Parish, Louisiana owned by the
Borrower  ("Disposal  Well Property") and a second lien to secure the payment of
this  Note  against  the  approximately  38 acres of real  property  located  in
Jefferson Davis Parish,  Louisiana owned by the Borrower ("Refinery  Property"),
and (ii) a Security  Agreement dated the date hereof (the "Security  Agreement")
granting to Lender a prior and perfected first lien security  interest to secure
the payment of this Note against the tangible personal property  associated with
the  Disposal  Well  Property  and owned by the  Borrower,  and a second lien to
secure  the  payment  of  this  Note  against  the  tangible  personal  property
associated with the Refinery Property and owned by the Borrower. As set forth in
the Mortgage and Security  Agreement  and further  acknowledged  herein,  in the
event that the  Borrower  grants to Rio Vista or any of its  affiliates a future
security  interest in the Refinery  Property and  associated  tangible  personal
property owned by the Borrower ("Rio Vista Security Interest"),  as security for
a loan not in excess of the total aggregate amount of  $4,000,000.00  (including
but not limited to all principal advances, interest, default interest, attorneys
fees,  costs,  collection  costs  and  expenses),  then the Rio  Vista  Security
Interest  shall be treated  pari passu  with the  Lender's  rights in and to the
Refinery  Property and associated  personal  property owned by the Borrower,  as
granted in the Mortgage and Security Agreement.

                            Promissory Note - Page 4

<PAGE>

                                        BORROWER:

                                        By: LAZARUS LOUISIANA REFINERY II, LLC

                                        By:____________________________________
                                                     Jonathan P. Carroll
                                                     Director / Manager

THE STATE OF TEXAS   ss.
                     ss.
COUNTY OF HARRIS     ss.

         BEFORE ME, the undersigned  authority,  on this day personally appeared
JONATHAN P. CARROLL,  known to me to be the person(s) whose names are subscribed
to the foregoing instrument,  and acknowledged to me that they executed the same
for the purposes and consideration therein stated.

GIVEN UNDER MY HAND AND SEAL OF OFFICE, this ____ day of July, 2009.

         [SEAL]

                                                 Notary Public in and for the
                                                 State of Texas

                                                 Printed Name of Notary

                                                 My Commission Expires:

E:\BUSLAW\Casey\BlueDolphin.General\Lazarus\$300,000.Note.v3.doc

                            Promissory Note - Page 5
<PAGE>helix_8k-ex1004.htm

Exhibit 10.4

 

August 4, 2009

 

	PERSONAL AND CONFIDENTIAL 	VIA E-MAIL

 

 

Mr. Ian Gardner

Chief Executive Officer

Helix Wind Corp.

1848 Commercial Street

San Diego, California 92113

RE: PLACEMENT AGENCY AGREEMENT

Dear Mr. Gardner:

This letter agreement (“Agreement”) is made effective August 4, 2009 (“Effective Date”) and sets forth the terms and conditions upon which Dominick & Dominick LLC (“Dominick”) will act as the exclusive financial advisor and placement agent, for the proposed offering (the “Offering”) of
debt and/or equity securities of Helix Wind Corp. (the “Company”) in an aggregate amount of up to Thirty Million Dollars ($30,000,000) in gross proceeds. The terms of our engagement are set forth below.

	
1.
	
The Offering.

	
  
	
(a)
	
Dominick currently anticipates raising a minimum of Five Million Dollars ($5,000,000) up to Thirty Million Dollars ($30,000,000) through a “PIPE” transaction involving the sale of debt and/or equity securities, including warrants (collectively, the “Securities”), to institutional and accredited investors. The actual terms of the Offering will depend on market conditions, and will be subject
to negotiation between the Company and Dominick and prospective investors. The Offering will be made to institutional and accredited investors only (as such terms may be defined in Regulation D (“Regulation D”) under the Securities Act of 1933, as amended (the “Act”) in a private placement pursuant to Rule 506 under Regulation D. Dominick shall rely upon and distribute only that information provided and/or approved by the Company (as amended and supplemented from time to time, the “Offering
Documents”), copies of which the Company will provide to Dominick upon request.

	
  
	
(b)
	
Dominick will use its commercially reasonable efforts to complete the Offering and to promptly report to the Company any subscriptions in connection therewith. Dominick shall maintain a record with respect to the distribution of each of the Offering Documents and any amendment(s) thereto, which record shall indicate the date sent and name and address of the party furnished with such Offering Documents, and shall
promptly forward to the Company copies of such record upon the Company’s request. Subscription documents and all other communication from Dominick shall be forwarded to Ian Gardner at the above address or to such other persons and places as the Company shall advise in writing. Dominick shall have the right, at its option, to engage other broker dealer firms to assist in the sale of the Securities.

 

 

- 1 -

 

 

	
  
	
(c)
	
Dominick shall advise the Company of any jurisdiction in which Dominick proposes to place securities under the Offering in advance of making any such offer, and Dominick shall not make any offer in any jurisdiction in which the Company advises Dominick that offers may not be made. The Company shall advise Dominick as to the information the Company has received from the Company’s counsel concerning the jurisdictions
in which the underlying securities are either registered or exempted under the “blue sky” laws of such jurisdictions.  The Company will provide Dominick, upon its request, with a copy of the blue sky filings made in connection with the offering or a copy of any blue sky opinion or memorandum that is prepared by the Company’s counsel. In the event that a sale is made by Dominick in a particular jurisdiction, the Company will, at its cost, make any required filings in order to comply
with the blue sky laws of that jurisdiction.

	
2.
	
Retainer. The Company shall pay to Dominick a retainer in the amount of Twenty Thousand Dollars ($20,000) (“Retainer”) upon execution of this Agreement. The Retainer shall be a non-refundable, advance payment to Dominick for its good faith efforts in preparing the Company for investor-related
presentations and conducting a due diligence review of the Company in connection therewith.

	
3.
	
Fees and Expenses.

	
  
	
(a)
	
Concurrently with the Closing of the Offering (or each Closing in the event that more than one closing is held), the Company will pay Dominick a cash fee equal to: (i) Eight Percent (8%) of the gross proceeds from the sale of equity securities (including securities convertible into preferred or common stock) or (ii) Four Percent (4%) of the gross proceeds of a debt placement to be paid at the Closing (“Cash
Fee”) Each Cash Fee will be paid upon the closing of each tranche (“Closing”).

	
  
	
(b)
	
In addition, the Company agrees to reimburse Dominick upon request for its out-of-pocket expenses, including travel and entertainment expenses. Dominick shall obtain the Company’s written approval prior to incurring any specific expense in excess of Five Hundred Dollars ($500.00). The Company shall prepay or reimburse Dominick upon presentation for any costs incurred by Dominick for collection of Compensation
or expenses hereunder, including but not limited to reasonable attorneys’ fees and court costs.

	
  
	
(c)
	
Furthermore, upon any Closing, the Company shall grant to Dominick, and Dominick’s designees, warrants to purchase Eight Percent (8%) of that number of securities placed in the Offering. The warrants will be exercisable into securities similar to those issued as part of the Offering, on the same terms issued to the investor(s) in the Offering, including but not limited to exercise price, antidilution adjustments
and/or registration rights.

 

	
4.
	
Term.

	
  
	
(a)
	
The term of this Agreement will continue for a period of Twelve (12) months commencing upon the Effective Date; provided, however that this Agreement may be terminated by the Company or Dominick effective upon Thirty (30) days’ prior written notice thereof to the other party, such notice not to be delivered earlier than One Hundred Eighty (180) days from the date hereof. Upon any expiration or termination,
Dominick will be entitled to receive, and the Company shall promptly pay, all fees earned and expenses incurred through the date of termination, subject to the provisions of 4(b) below.

	
  
	
(b)
	
The Eighteen (18) month period immediately following the Term of this Agreement shall be referred to as the Tail Period.  Dominick shall be entitled to receive, and the Company shall be obligated to pay to Dominick, all fees defined in this Agreement for any such transaction(s) entered into by the Company during the Tail Period with: (i) any entity introduced to the Company by Dominick during the Term;
or, (ii) any entity with whom Dominick contacted or was working on behalf of the Company or at the Company’s direction during the Term.

 

 

 

- 2 -

 

 

	
5.
	
Fees Paid Upon A Merger.  In the event that the Company requests Dominick’s assistance with finding, qualifying and merging or otherwise combining with a company, irrespective of whether the Company is the surviving entity, then the Company will pay a cash fee equal to Four and One Half Percent (41⁄2%) of the total transaction value of such
merger or combination (“Merger Fee”).  The transaction value includes, by way of example only: (i) cash, notes, securities and other property of value; (ii) assumed liabilities; (iii) the total amount of payments to be made in installments; and (iv) amounts paid or payable under consulting, supply, service, distribution, licensing or lease agreements not to compete or similar arrangements.

Notwithstanding anything to the contrary contained in this Agreement, Dominick shall be entitled to receive a Merger Fee during the Term, for only those transactions entered into by the Company with; (i) any entity introduced to the Company by Dominick during the Term; or, (ii) any entity with whom Dominick was working on behalf of the
Company or at the Company’s direction during the Term.

	
6.
	
Offering Memorandum, Representations and Warranties.  The Company represents and warrants to Dominick that all information(a) made available to Dominick, its agents, or representatives by the Company or (b) contained in any Offering Documents or related materials will be complete and correct in all material respects and will not contain any untrue
statement of a material fact or omit to state a material fact necessary in order to make the statements therein not misleading in the light of the circumstances under which such statements are or will be made. The Company will promptly advise Dominick of the occurrence of any event or the existence of any condition described in paragraph 9 of this Agreement, the receipt by the Company of any communication from the SEC or any state securities commissioner or regulatory authority concerning this Offering,
and the commencement of any lawsuit or proceeding to which the Company is a party relating to this Offering. The Company further represents and warrants to Dominick that all such information will have been prepared by the Company in good faith and will be based upon assumptions which are reasonable. The Company acknowledges and agrees that, in rendering its services hereunder, Dominick will be using and relying on such information (and information available from public sources and other sources deemed reliable
by Dominick) without independent verification thereof by Dominick or independent appraisal by Dominick of any of the Company’s assets.  Dominick does not assume responsibility for the accuracy or completeness of any information regarding the Company or any securities issued by the Company.

The Company will advise Dominick immediately of the occurrence of any event or any other change known to the Company which results in the Offering Documents containing an untrue statement of a material fact or omitting to state a material fact required to be stated therein or necessary to make the statements therein or previously made,
in light of the circumstances under which they were made, not misleading.  

	
7.
	
Exclusions.  It is expressly understood and acknowledged that Dominick’s engagement hereunder does not constitute a commitment, express or implied, or undertaking on the part of Dominick to provide any funding, financing, purchase or placement of the securities and does not ensure the successful completion of any funding or financing. Nothing
in this Agreement nor the nature of Dominick services shall be deemed to create a fiduciary or agency relationship other than as specifically defined in this Agreement. In no event shall Dominick be required by this Agreement to make decisions for the Company or to provide legal or accounting services.  The Company confirms that it will rely on its own legal counsel, accountants and other similar expert advisors for legal, accounting, tax and other similar advice. Dominick shall discharge its obligations
hereunder on a “commercially reasonable efforts” basis only. All final decisions with respect to acts of the Company or its affiliates, whether or not made pursuant to or in reliance upon information or advice furnished by Dominick hereunder, shall be those of the Company or such affiliates, and Dominick shall under no circumstances be liable for any expense incurred or loss suffered by the Company as a consequence of such decisions.

 

 

- 3 -

 

 

	
8.
	
Other Finders and Placement Agents. The Company represents and warrants that there is no other person or entity that is entitled to a finder’s fee or any type of brokerage commission in connection with the transactions contemplated by this Agreement as a result of any Agreement or understanding with the Company. Notwithstanding the foregoing, Dominick
will: (i) waive that amount of fees to which it would be otherwise entitled hereunder in connection with fees paid by the Company, if any, to Atoll Financial Group, Inc. (“Atoll”) for any financing closed through October 14, 2009; and (ii) be entitled to One Hundred Percent (100%) of its stated fees in paragraph 3 of this Agreement for any financing provided by any investor(s) of Atoll thereafter. The Company expressly represents that it will have otherwise terminated any relationship with Atoll on
or before October 14, 2009, of which a copy of the termination letter will be forwarded to Dominick.

	
9.
	
Confidentiality.  Neither party shall issue any press release, statement, notice, document or other instrument referring to or mentioning the other without such other party’s prior written consent, except as required by a court of competent jurisdiction and/or applicable laws. The parties further acknowledge that this Agreement and the terms
hereof are confidential and will not be disclosed to anyone other than the officers and employees of each such party on a “need to know” basis together with the accountants, advisers and legal counsel of each such party, or as required by law, subpoena or at the request of any regulatory agency. Each party may find it necessary to disclose certain technical or business information which the disclosing party (“Disclosing Party”) desires the receiving party (“Receiving Party”)
to treat as Confidential. Confidential information (“Confidential Information”) means any information: (i) disclosed to a Receiving Party by the Disclosing Party, either directly or indirectly in writing, orally or by inspection of tangible objects, including without limitation announced and unannounced products, disclosed and undisclosed business plans and strategies, financial data and analysis, customer names and list, customer data, funding sources and strategies, and strategies involving strategic
business; and, (ii) which is conspicuously labeled and/or marked as being confidential or otherwise proprietary to the Disclosing Party. If information is disclosed orally, then in order to be considered as Confidential Information hereunder, the Disclosing Party shall, at the time of making such disclosure, state that the information is to be considered as confidential and within Five (5) business days following such oral disclosure, confirm in writing the information disclosed together with a confidential label
or legend.

The Receiving Party agrees that it shall take all reasonable measures to protect the secrecy of and avoid disclosure and unauthorized use of the Confidential Information. Without limiting the foregoing, the Receiving Party shall take at least those measures that the Receiving Party takes to protect its own most highly confidential information,
and, except as is expressly permitted in this Agreement, shall not use such Confidential Information for its benefit or for the benefit of any third party, regardless of whether there is no pecuniary benefit. The Receiving Party shall reproduce the Disclosing Party’s proprietary rights notices on any such approved copies, in the same manner in which such notices were set forth in or on the original.  The Receiving Party shall immediately notify the Disclosing Party in the event of any unauthorized
use or disclosure of the Confidential Information.

The Receiving Party's obligations under this Agreement shall not apply to any information which: (a) is already known and in the possession of the Receiving Party prior to the date of disclosure; (b) is rightfully received from any third party without any obligation of confidence; (c) is or becomes publicly available through no fault of
the Receiving Party; (d) is independently developed by the Receiving Party without knowledge or use of the Confidential Information of the Disclosing Party; (e) is released with prior written consent of the Disclosing Party; and/or, (f) as may be compelled under court order.

 

 

- 4 -

 

 

All documents and other tangible objects containing or representing Confidential Information and all copies thereof in possession of the Receiving Party shall be and remain the property of the Disclosing Party and shall be promptly returned or destroyed by the Receiving Party upon request of the Disclosing Party.

	
10.
	
Indemnification. As Dominick will be acting on the Company’s behalf, the Company agrees to indemnify and hold harmless Dominick, (its affiliates, and respective officers, directors, agents, employees and controlling persons, Dominick and each such persons being an “Indemnified Person”) from and against all claims, liabilities, losses, damages
and expenses (including reasonable attorneys’ fees and disbursements) joint or several, to which Dominick may become subject under any federal or state law or otherwise, and will reimburse Dominick for all fees and expenses (including reasonable attorneys’ fees and disbursements) as they are incurred in investigating, preparing, pursuing, or presenting testimony or relating to or defending any claim, action, proceeding or investigation, whether or not in connection with pending or threatened  litigation,
whether or not the Company has initiated such action and whether or not the Company or Dominick is a party, relating to, arising out of, or in connection with this engagement letter or Dominick’s role, advice or services in connection therewith. The Company will not be responsible for any such claims, liabilities, losses, damages or expenses if Dominick is found by a court of competent jurisdiction in a judgment that has become final (and not subject to further appeal) to have arisen solely and directly
out of the willful misconduct or gross negligence of Dominick, other than an action or failure to act undertaken or omitted at the request or with the consent of the Company. The Company will not, without Dominick prior written consent, settle, compromise, consent to the entry of any judgment in or otherwise seek to terminate any action, claim, suit or proceeding in respect of which indemnification may be sought hereunder (whether or not Dominick is a party thereto) unless such settlement, compromise, consent
or termination includes a release of Dominick from any liabilities arising out of such action, claim, suit or proceeding. The foregoing indemnification is effective immediately in respect of all events occurring or omitted prior to or after the date hereof.

	
11.
	
Governing Law.  This Agreement shall be governed by and construed in accordance with the laws of the State of New York without giving effect to its conflicts of law principles. The Company and Dominick: (i) agree that any legal suit, action or proceeding arising out of or relating to this engagement letter and/or the transactions contemplated hereby
shall be instituted exclusively in New York Supreme Court, County of New York, or in the United States District Court for the Southern District of New York, (ii) waive any objection which it may have or hereafter have to the venue of any such suit, action or, proceeding, and (iii) irrevocably consent to the jurisdiction of the above courts in any such suit, action or proceeding.

	
12.
	
Privity. This Agreement does not create, and shall not be construed as creating, rights enforceable by any person or entity not a  party hereto, except those who may entitled thereto by virtue of the provisions of this paragraph  and those persons and entities who are entitled to the benefits of the indemnity provisions thereof.  This
Agreement shall inure to the benefit of the parties hereto, their respective successors and assigns, and to the indemnified parties hereunder and their successors and representatives. This Agreement may not be assigned by any party to an unaffiliated party without the express written consent of the other party hereto.

	
13.
	
Severability.  If the final determination of a court of competent jurisdiction declares, after the expiration of the time within which judicial review, that any term or provision hereof is invalid or unenforceable, (i) the remaining terms and provisions hereof shall be unimpaired and (ii) the invalid and enforceable term or provision shall be replaced
by a term or provision that is valid and enforceable and that comes closest to expressing the intention of the invalid or unenforceable term or provision.

	
14.
	
Counterparts.  This letter may be executed in one or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.

 

 

 

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15.
	
Legal Effect.  The legal relationship of the parties created by this Agreement is one of independent contractors only and no master-servant, co- or joint-venturers, licensor-licensee, partnership or other such relationship is intended or shall be deemed or construed.

	
16.
	
Amendment.  No amendment to this Agreement shall be valid unless such amendment is in writing and is signed by authorized representatives of all the parties to this Agreement.

	
17.
	
Waiver.  Any of the terms and conditions of this Agreement may be waived at any time and from time to time in writing by the party entitled to the benefit thereof, but a waiver in one instance shall not be deemed to constitute a waiver in any other instance. A failure to enforce any provision of this Agreement shall not operate as a waiver of this
provision or of any other provision hereof.

	
18.
	
Survival.  The parties acknowledge that certain provisions of this Agreement must survive any termination or expiration thereof in order to be fair and equitable to the party to whom any such promise or duty to perform is owed. Therefore, the parties agree that the provisions of paragraphs 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18 and
19 shall survive the termination or expiration of this Agreement for the period required to meet and satisfy any obligations and promises arising therein and thereunder.

	
19.
	
Entire Agreement. This Agreement sets forth the entire understanding of the parties relating to the subject matter hereof, and supersedes and cancels any prior communications, understanding and agreements between parties. This Agreement cannot be modified or changed, nor can any of its provisions be waived, except by written agreement signed by all parties.

If the foregoing correctly sets forth the understanding between the Company and Dominick, please sign below where indicated and return the Agreement to Dominick for counter-signature. We look forward to working with you toward the successful conclusion of this engagement, and developing a long-term relationship.

Very truly yours,

DOMINICK AND DOMINICK LLC

By: /s/ Michael L. Shwarts                                                    

      Michael L. Shwarts

      Managing Director - Investment Banking

 

Confirmed and accepted as of this 4th day of August, 2009:

HELIX WIND CORPORATION

By: /s/ Ian Gardner                                                        

      Ian Gardner

      Chief Executive Officer

 

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