Document:

ex10-18.htm

EXHIBIT 10.18

TN-K Energy Group Inc.

649 Sparta Highway, Suite 102

Crossville, TN  38555

 

As of June 29, 2010

Mr. Dan Page

Post Office Box 574

Crossville, TN  38557

	
Re: 

	
TN-K Energy Group Inc., formerly known as Digital Lifestyles Group, Inc. (the “Company”)

Fourth Amendment to Convertible Line of Credit Note Agreement

 

Dear Mr. Page:

Reference is hereby made to that certain Convertible Line of Credit Note Agreement dated as of April 23, 2007 by and between the Company and you, as amended by the First Amendment dated September 27, 2008 and as further amended by the Second Amendment dated May 1, 2009 and the Third Amendment dated December 8, 2009 (collectively, the “Note”).

You hereby agree to amend the Note to extend the due date of the Note to December 31, 2010.

All other terms and conditions as set forth in the Note shall remain the same.

 

This Fourth Amendment may not be amended or waived except by an instrument in writing signed by the Company and you.  This Fourth Amendment may be executed in any number of counterparts, each of which shall be an original and all of which, when taken together, shall constitute one agreement.  Delivery of an executed signature page of this Fourth Amendment by facsimile transmission shall be effective as delivery of a manually executed counterpart hereof or thereof, as the case may be. This Fourth Amendment shall be governed by, and construed in accordance with, the laws of the State of Tennessee.  This Fourth Amendment sets forth the entire agreement between the parties hereto as to the matters set forth herein and supersede all prior communications, written or oral, with respect to the matters herein.

TN-K Energy Group Inc.

By: /s/ Ken Page

Ken Page, Chief Executive Officer

The foregoing terms are agreed to as of

the day and date above.

 

/s/ Dan Page

Dan Pageex10-16.htm

Exhibit 10.16

2010-2011 EXTENSION TO

JUNE 15, 2006 AMENDED

GLOBAL GOLD CORPORATION– DRURY J. GALLAGHER

EMPLOYMENT AGREEMENT

AMENDMENT entered on August 19, 2010 and effective as of the 1st day of July, 2010 between Global Gold Corporation, a Delaware corporation (the "Company"), and Drury J. Gallagher (the "Employee") to the Employment Agreement between the parties dated as of February 1, 2003 as previously amended as of the  day of June 15, 2006 (the "Agreement").

W I T N E S S E T H :

WHEREAS, the Company has employed the Employee as Treasurer and Chairman Emeritus and needs to retain  the active service of the Employee in light of the Company’s obligations and in light of other considerations;

 

WHEREAS, the Corporation and the Employee desire to memorialize the automatic extension ratified by the Corporation on June 18, 2010 and enter into an extension of the Agreement on the terms and conditions hereinafter set forth;

 

NOW, THEREFORE, the parties hereto agree as follows:

	
  

	
1.

	
CHANGE IN TERM OF AGREEMENT. The term of the Agreement is extended pursuant to the Agreement  until June 30, 2011.

 

	
  

	
2.

	
COMPENSATION. Employee’s annual compensation for the term of this amendment shall be at a base salary of $125,000 per year and 20,000 shares vesting in two installments on August 19, 2010 and December 31, 2010, and pursuant to the terms set forth in the Restricted Stock Award attached to this Extension, and 100,000 Options vesting on November 19, 2010.

	 	
3.

	
SURVIVAL OF AGREEMENT.   This Extension is limited as specified above and shall not constitute a modification or waiver of any other provision of the Agreement except as required by terms agreed here.  Except as specifically amended by this Extension, the Agreement terms shall remain in full force and effect and all of its terms are hereby ratified and confirmed.

 

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

	
  

	
GLOBAL GOLD CORPORATION

 

 

	 	
 
By___________________________

	
 
________________________

 

	 	
Van Z. Krikorian, Chairman and CEO

	
Drury J. GallagherUnassociated Document

    
Exhibit 10.6 

    
 

    
LETTER OF
INTENT

    

    
This Letter of Intent is made and
entered into as of August 16, 2010, by and between KENSINGTON LEASING, LTD., a
Nevada Corporation, whose common stock trades on the over-the-counter bulletin
board under the trading symbol, “KNSL” (hereinafter referred to as ‘KNSL”), and
WEALTHMAKERS, LTD., a privately held Wyoming corporation (hereinafter “WM”), and
sets forth the basic terms and conditions by which KNSL will acquire 100% of the
outstanding capital stock of WM held by its selling shareholders, subject to the
consummation of a definitive agreement, as follows:

     

    1.  KNSL
is a publicly held Nevada corporation whose common stock trades on the
over-the-counter bulletin board.  KNSL has an authorized share capital
of 100 million shares of common stock, 7,888,000 shares of which are issued and
outstanding.

     

    2.  WM
is a privately held Wyoming corporation.  WM has an authorized share
capital of 100 million shares of common stock, 15,354,000 shares of which are
issued and outstanding.  WM is a web-based predictive research
technology company that connects to automated trading platforms for stocks,
indexes, bonds, options, commodities and currencies and can trade in up to 80
markets around the world in a single Interactive Brokers Universal
account.

    

    3.  KNSL
shall issue 3,838,500 shares of its common stock in exchange for 100% of the
issued and outstanding capital shares of WM.  The value of the KNSL
common stock exchanged is based on the closing price reported on the
over-the-counter bulletin board as of August 13, 2010.

     

    4.  Upon
acceptance of this agreement by the board of directors of KNSL and WM, and the
selling shareholders of WM, a definitive agreement shall be entered into between
the parties.

     

    5.  Each
of the parties hereto shall, and shall cause their agents and representatives,
to keep confidential as proprietary and privileged information the negotiations
of the parties respecting the consummation of the transaction contemplated
hereby, and any other item which may be expressly identified or noticed as
confidential hereby (“Confidential Information”).  WM agrees not to
negotiate with any other merger or financing candidates during the pendency of
this agreement.

     

    6.  Consummation
of the definitive agreement shall be subject to there being no material change
in either party’s business, financial conditions, or prospects, from the date of
this letter of intent up to and including the date of the definitive
agreement.  Each party shall pay its own relative expenses incidental
to this letter of intent and the definitive agreement.  Neither party
shall make an announcement of the proposed transaction contemplated hereby,
prior to the execution of the definitive agreement without the prior written
consent of the other, which shall not be unreasonably withheld or
delayed.  However, KNSL is hereby specifically authorized to announce
the execution of this letter of intent to its shareholders and to the
public.  Nothing contained in this provision shall restrict in any
respect with either party’s ability to communicate information concerning this
letter of intent and the transactions contemplated hereby to its respective
affiliates, officers, directors, employees, attorneys, accountants, consultants
and advisors, and to third parties whose consent may be required in connection
with the transaction contemplated hereby.

     

    7.  This
agreement sets forth the basic terms and conditions of the proposed transaction
between the parties as currently contemplated.  Consummation of the
transactions contemplated hereby requires further negotiation, and requires the
drafting of a definitive agreement setting forth the terms and conditions not
inconsistent with the foregoing and other terms and conditions which are
customary and usual under the circumstances.  The parties will
cooperate and use their best efforts to negotiate such a definitive
agreement.  This letter of intent does not constitute or create, and
shall not be deemed to constitute or create, any obligation on the part of
either party to this letter of intent.  No such obligation shall be
created, except by the execution and delivery of the definitive agreement
contemplated hereby, containing such terms and conditions of the proposed
transaction as shall be agreed upon by the parties, and then only in accordance
with the terms and conditions of such definitive agreement.

     

    8.  This
agreement may be executed in one or more counterparts, each of which shall be
deemed as an original, but all of which taken together shall constitute one and
the same instrument.  This is the only agreement between the parties
with respect to the subject matter hereof, and shall be construed under the laws
of the state of California.

     

     

    
      
        	 	 	 
	 	 KENSINGTON
      LEASING, LTD.
	 	 
	 	 By	 
	 	 	 Angelique de
      Maison, CEO

      

       

    

    
      
        
          	 	 	 
	 	 WEALTHMAKERS,
      LTD.
	 	 
	 	 By	 
	 	 	Zirk Engelbrecht,
      Presidentsubscriptionagreement.htm - Generated by SEC Publisher for SEC Filing

 

SUBSCRIPTION AGREEMENT

(for completion by non-United States residents)

 

MODERN MOBILITY AIDS, INC.

1821 Walden Office Square, Suite 400

Schaumburg, IL 60173

Telephone: (847) 303-0280

 

 

The undersigned (the "Purchaser") hereby irrevocably subscribes for and agrees to purchase the number of shares of common stock in the capital of Modern Mobility Aids, Inc. (the “Company”), a Nevada company, disclosed on page 5 of this Agreement at a price of US$0.0125 per share for the aggregate price disclosed on page 5 of this Agreement (U.S. dollars) (the "Funds").  Together with this Subscription Agreement, the Purchaser is delivering to the Company the full amount of the purchase price for the Shares in respect of which it is subscribing.  

 

1. Terms. The Company is offering a minimum of 3,200,000 and up to a maximum of 32,000,000 shares of common stock (the “Offering”). Funds from this Offering will be placed in a separate, non-interest bearing bank account. This account is not an escrow, trust or similar account. The Company will hold the Funds in this account until the Company receives a minimum of $40,000, at which time the Funds will be appropriated by transferring to the Company’s current bank account. Any Funds received by the Company thereafter will be immediately available for the Company use. 

 

If the Company does not receive the minimum amount of $40,000 within 180 days of the effective date of the Company Prospectus, or within an additional 90 days, if the Company extends the offering period, all Funds will be promptly returned to the Purchasers acquiring shares in this Offering without a deduction of any kind. During the 180 day period and possible additional 90 day period, no funds will be returned to the Purchasers acquiring shares in this Offering. The Purchasers acquiring shares in this Offering will only receive a refund of the  Funds if the Company does not raise a minimum of $40,000 within the 180 day period referred to above, which could be expanded by an additional 90 days at the Company’s discretion for a total of 270 days. 

 

Officers, Directors, affiliates or anyone involved in marketing of the Company shares will not be allowed to purchase shares in the Offering.  The Purchaser will not have the right to withdraw the subscription funds advanced to the Company during the Offering period of up to 270 days. The Purchaser will only have the right to have the funds returned if the Company does not raise the minimum amount of the Offering, or if there is a material change in the terms of the Offering. The following are material changes that would entitle the Purchaser to a refund of the Funds:

 

 

-                      a change in the offering price;

-                      a change in the minimum sales requirement;

Page 1 of  6

 

-                     a change in the amount of proceeds necessary to release the funds held in the  separate bank account;

-                     a change to allow sales to affiliates in order to meet the minimum sales requirement; and

-                      an extension of the offering period beyond 270 days.

 

If any of the above material changes occur, a new offering may be made by means of a post-effective amendment.  

 

2.  Purchaser’s Representation and Warranties.  In order to induce the Company to accept this subscription, the Purchaser hereby represents and warrants to, and covenants with, the Company as follows: 

 

A.       The Purchaser is purchasing the Shares for the Purchaser’s own account (not as a nominee or agent) for investment purposes and not with a view towards resale or distribution of any part thereof.  The Purchaser has no present arrangement or intention to sell or distribute the Shares, or to grant participation in the Shares.  The Purchaser does not have any contract, undertaking, agreement or arrangement with any person to sell, transfer or grant participation to such person, or to any third person, with respect to any of the Shares sold hereby;

 

B.       The Purchaser has had the opportunity to review the Company’s Prospectus dated ___ day of  ____________, 2010 as filed with the U.S. Securities and Exchange Commission, and asked and received answers to any and all questions the Purchaser had with respect to the Company, its Business Plan, Management and current financial condition.  The Purchaser acknowledges that the Company is newly organized, have limited operating history, will likely require additional capital to complete its business plan and that there is no assurance that the Company can obtain additional capital or successfully complete its Business Plan;

 

C.      The Purchaser is an accredited investor and has such knowledge and expertise in financial and business matters that the Purchaser is capable of evaluating the merits and risks involved in an investment in the Shares and acknowledges that an investment in the Shares entails a number of very significant risks and the Purchaser is able to withstand the total loss of its investment.  The Purchaser acknowledges that the Company has recommended that each Purchaser obtain independent legal and financial advice prior to subscribing, including but not limited to advice as to the legality of any resale of the Shares, as well as the suitability of the investment for the Purchaser;

 

D.      Except as set forth in this Agreement, no representations or warranties have been made to the Purchaser by the Company or any agent, employee or affiliate of the Company and in entering into this transaction the Purchaser is not relying upon any information, other than that contained in the Company’s Prospectus filed with the Securities and Exchange Commission on _____ day of ____________, 2010 and this Agreement and the result of independent investigation by the Purchaser;

 

 

 

 

 

Page 2 of  6

 

 

E.       The Purchaser has full power and authority to execute and deliver this Agreement and to perform its obligations hereunder, and this Agreement is a legally binding obligation of the Purchaser enforceable against the Purchaser in accordance with its terms; 

 

          F.       This subscription for the Shares has not been induced by any representations or warranties by any person whatsoever with regard to the future value of the Company's securities;

 

          G.      The Purchaser agrees not to engage in hedging transactions with regard to the Shares unless in compliance with the Act; 

 

3.  Company Representations.  The Company represents and warrants to the Purchaser that:

 

A.       The Company is duly incorporated under the laws of the State of Nevada and is in good standing in accordance with all applicable federal and state laws;

 

B.       The execution, delivery and performance of this Agreement by the Company and the performance of its obligations hereunder do not and will not constitute a breach or violation of any of the terms and provisions of, or constitute a default under or conflict with or violate any provisions of (i) the Company’s Articles of Incorporation or By-laws, (ii) any indenture, mortgage, deed of trust, agreement or any instrument to which the Company is a party or by which it or any of its property is bound, (iii) any applicable statute or regulation, or (iv) any judgment, decree or order of any court or government body having jurisdiction over the Company or any of its property;

 

C.      The execution, delivery and performance of this Agreement and the consummation of the issuance of the Shares and the transactions contemplated by this Agreement are within the Company’s corporate powers and have been duly authorized by all necessary corporate and stockholder action on behalf of the Company;

 

D.      There is no action, suit or proceeding before or by any court or governmental agency or body, domestic or foreign, now pending or, to the knowledge of the Company, threatened against or affecting the Company or any of its properties, which might result in any material adverse change in the condition (financial or otherwise) or in the earnings, business affairs or business prospects of the Company, or which might materially and adversely affect the properties or assets thereof;

 

E.       The Company is not in default in the performance or observance of any material obligation agreement, covenant or condition contained in any material indenture, mortgage, deed of trust or other material instrument or agreement to which it is a party or by which it or its property may be bound; and neither the execution, nor the delivery by the Company, nor the performance by the Company of its obligations under this Agreement will conflict with or result in the breach or violation of any of the terms or provisions of, or constitute a default or result in the creation or imposition of a lien or charge on any assets or properties of the Company under any material deed of trust or 

 

 

 

Page 3 of  6

 

 

other material agreement or instrument to which the Company is party or by which it is bound or any statute or the Articles of Incorporation or By-laws of the Company, or any decree, judgment, order, ruling or regulation of any court or government agency or body having jurisdiction over the Company or its properties;

 

F.       There is no fact known to the Company (other than general economic conditions known to the public generally) that has not been disclosed in writing to the Purchaser that (i) could reasonably be expected to have a material adverse effect on the condition (financial or otherwise) or on the earnings, business affairs, business prospects, properties or assets of the Company, or (ii) could reasonably be expected to materially and adversely affect the ability of the Company to perform its obligations pursuant to this Agreement.

 

 

4. Non-Binding Until Accepted. The Purchaser understands that this subscription is not binding upon the Company until the Company accepts it, which acceptance is at the sole discretion of the Company and is to be evidenced by the Company’s execution of this Agreement where indicated.  The funds advanced by the Purchaser cannot be used by the Company until the Company has accepted the subscription, executed this Agreement and the minimum amount of $35,000 will be raised from all purchasers collectively within 180 days of the effective date of the Company’s Prospectus, or, if extended, within additional 90 days.

 

 

5. Non-Assignability.  Neither this Agreement nor any of the rights of the Purchaser hereunder may be transferred or assigned by the Purchaser.  

 

 

6. Modification/Entire Agreement.  

 

This Agreement: 

 

a) May only be modified by a written instruction executed by the Purchaser and the       Company; 

b) Sets forth the entire agreement of the Purchaser and the Company with respect to the subject matter hereof; and 

c) Shall enure to the heirs, legal representatives, successors and permitted assigns.

 

 

7.  Governing Law.  This Agreement will be construed and enforced in accordance with and governed by the laws of the State of Nevada.

 

8.  Notices.  All Notices or other communication hereunder shall be in writing and shall be deemed to have been duly given if delivered personally (including courier service) or mailed by certified or registered mail, return receipt requested, postage prepaid.

 

 

Page 4 of  6

 

 

 

IN WITNESS WHEREOF the Purchaser has executed this Securities Subscription Agreement on the date set forth below.

 

The Subscriber hereby offers to subscribe for ___________ Shares on the terms and conditions of this Agreement and agrees to pay the Funds and delivers herewith a certified check, money order or bank draft in the sum of $ ____________(U.S.) made payable to the Company.

 

DATED:  _________________________

 

                               (sign below if Subscriber is an individual)

 

	
SIGNED, SEALED AND DELIVERED

by the Subscriber in the presence of:

 

 

                                                          

 

 

                                                          

	
 

	
 

                                                             

Signature of the Subscriber

 

 

                                                             

Printed Name of Subscriber

 

 

                                                             

Residential Address of Subscriber

 

                                                             

 

 

 

                               (sign below if Subscriber is a corporation)

	
 

EXECUTED by

___________________________

in the presence of:

 

 

                                                             

Witness

	
 

	
 

 

___________________________

per:

 

                                                              

Authorized Signatory

 

 

 

Page 5 of  6

 

 

Acceptance by the Company

 

This Agreement is accepted by the Company as of the ____ day of _________,         .

	
 

	
 

MODERN MOBILITY AIDS, INC.

 

per:

                                                          

Authorized Signatory

 

 

 

 

 

 

 

 

 

 

 

Page 6 of  6

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