Document:

EMPLOYMENT AGREEMENT

THIS EMPLOYMENT AGREEMENT is entered into on December 29, 2011 by and between Universal Solar Technology, Inc. (“Company”), a Nevada corporation having its principal place of business at No. 1 Pingbei Road 2, Nanping Science & Technology Industrial Park, Zhuhai City, Guangdong Province, The People’s Republic of China and Weilei Lv, an Chinese citizen (“Executive”), with reference to the following facts:

RECITALS

WHEREAS, Company is primarily engaged in the business of development, manufacturing and distribution of silicon ingots, wafers, high efficiency solar photovoltaic cells modules and other PV application; and

WHEREAS, Company desires to employ Executive and to ensure the continued availability to Company of Executive’s services, and Executive desires to accept such employment from Company and render such services, all in accordance with and subject to the terms and conditions herein set forth;

NOW, THEREFORE, in consideration of the promises and of the mutual covenants contained herein, and for other good and valuable consideration, receipt of which is hereby acknowledged, Company and Executive do hereby agree as follows:

AGREEMENT

1.            Term of Employment.

1.01.        Specified Term.  Company employs Executive, and Executive accepts employment with Company, for a period of two years beginning on December 29, 2011, and ending on December 28, 2013.

1.02.        Earlier Termination.  This Agreement may be terminated earlier as hereinafter provided.

1.03.        Continuing Effect. Notwithstanding any termination of this Agreement except for termination under Section 7.02, at the end of the Term or otherwise, the provisions of Sections 10 and 11 shall remain in full force and effect and the provisions of Section 11 shall be binding upon the legal representatives, successors and assigns of the Executive.

2.            Duties and Obligations of Executive.

2.01.        Title and Description of Duties.  Executive shall serve as the Chief Financial Officer (“CFO”) of Universal Solar Technology, Inc.  In that capacity, Executive shall do and perform all services, acts, or things necessary or advisable to fulfill the duties of a Chief Financial Officer.  However, Executive shall at all times be subject to the direction of the Chief Executive Officer (“CEO”), and to the policies established by the Company’s Board of Directors.

  

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2.02.       Loyal and Conscientious Performance of Duties.  Executive agrees that to the best of his ability and experience he will at all times loyally and conscientiously perform all of the duties and obligations required of him either expressly or implicitly by the terms of this Agreement.

2.03.       Devotion of Entire Time to Company's Business and Exception.

(a)           Executive shall devote his ability and attention to the business of Company during the term of this Agreement. However, the expenditure of reasonable amounts of time for educational, charitable, or professional activities shall not be deemed a breach of this Agreement if those activities do not materially interfere with the services required under this Agreement.

(b)           This Agreement shall not be interpreted to prohibit Executive from making passive personal investments or conducting private business affairs if those activities do not materially interfere with the services required under this Agreement.  For instance, working as part-time consultant for other companies in the Executive’s off hours shall not be deemed as a breach of this Agreement. However, Executive shall not, directly or indirectly, acquire, hold, or retain any interest in any business competing with or similar in nature to the business of Company.

2.04.       Location of Office.  Executive’s principal business office shall be in Nanyang city of China.  However, Executive’s job responsibilities shall include all business travel necessary to the performance of his job.

2.05.       Uniqueness of Executive’s Services.  Executive represents and agrees that the services to be performed under the terms of this Agreement are of a special, unique, unusual, extraordinary, and intellectual character that gives them a peculiar value, the loss of which cannot be reasonably or adequately compensated in damages in an action at law.  Executive therefore expressly agrees that Company, in addition to any other rights or remedies that Company may possess, shall be entitled to injunctive and other equitable relief to prevent or remedy a breach of this Agreement by Executive.

2.06.       Adherence to Inside Information Policies.  Executive acknowledges that Company is publicly-held and, as a result, has implemented inside information policies designed to preclude its executives and those of its subsidiaries from violating federal securities laws by trading on material, non-public information or passing such information on to others in breach of any duty owed to Company its parent or any third party.  Executive shall promptly execute any agreements generally distributed by Company to its employees requiring such employees to abide by its inside information policies.

 

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Employment Agreement

Chief Financial Officer

   

  

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3.           Obligations of Company.

3.01.       General Description.  Company shall provide Executive with the compensation, incentives, benefits, and business expense reimbursement specified elsewhere in this Agreement.

3.02.       Indemnification of Losses of Executive Company shall indemnify Executive for all necessary expenditures or losses incurred by Executive in direct consequence of the discharge of his duties on Company’s behalf.

 

4.           Compensation of Executive.

 

4.01.       Monthly Salary.

(a)           As compensation for the services to be rendered by Executive hereunder, Company shall pay Executive an monthly before-individual-income-tax salary at the rate per month of RMB10,000.

(b)           Executive shall receive such monthly increases in salary as may be determined by Company’s CEO in his sole discretion at least annually on or about each anniversary of the execution of this Agreement.

(c)           Executive shall pay the due individual income tax levied by the applicable laws and other individual tax (if applicable) levied for the above benefits paid by Executives. Company shall be entitled to deduct from each salary payment, all deductions as may be required by applicable laws, including, without limitation, deductions for U.S.A. federal, state and local income taxes and FICA, and deductions for P.R.C. applicable laws.

 

4.02.       Salary Continuation During Disability.  If Executive for any reason whatsoever becomes permanently disabled so that he is unable to perform the duties prescribed herein, Company agrees to pay Executive his monthly installments of salary, payable in the same manner as provided for the payment of salary herein, for a period of up to six (6) months from the date of disability or until the expiration of the employment term provided for herein, whichever occurs sooner.

 

5.           Executive Benefits.

 

5.01.       Annual Vacation.  Executive shall be entitled to two (2) week vacation time each year with full pay.  Executive may be absent from his employment for vacation only at such times as Company’s CEO shall determine from time to time.  If Executive is unable for any reason to take the total amount of authorized vacation time during any year, he may accrue that time and add it to vacation time for any following year or may receive a cash payment in an amount equal to the amount of annual salary attributable to that period.

  

Universal Solar Technology, Inc.

Employment Agreement

Chief Financial Officer

  

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5.02.       Illness. On completion of one (1) year in the service of Company, Executive shall be entitled to five (5) days per year as sick leave with full pay.  Sick leave may not be accumulated or accrued for any following year.

5.03.       Employee Benefit Programs.  Executive is entitled to participate in any pension, 401(k), insurance or other employee benefit plan that is maintained by Company for its executive officers, including programs of life and medical insurance and reimbursement of membership fees in civic, social and professional organizations

5.04.       Insurance. Company shall provide to Executive and pay premiums on Company’s group medical insurance policy offered through Company, covering Executive and Executive’s dependents.

5.05.       Severance Package.  If Executive’s employment with Company is terminated pursuant to Sections 7.03 or 7.04, Executive shall be entitled to three (3) month severance package consisting of Executive's compensation and all benefits as provided for in Sections 5.  Payments shall be made in a lump sum.

6.           Business Expenses.

6.01.       Business Expenses.

(a)          Company shall promptly reimburse Executive for all reasonable business expenses incurred by Executive in promoting the business of Company, including expenditures for entertainment, gifts, and travel.

(b)          Each such expenditure shall be reimbursable only if it is of a nature qualifying it as a proper deduction on the federal and state or China income tax return of Company.

(c)          Each such expenditure shall be reimbursable only if Executive furnishes to Company adequate records and other documentary evidence required by federal and state statutes and regulations issued by the appropriate taxing authorities for the substantiation of that expenditure as an income tax deduction.

7.           Termination of Employment.

7.01.       Death or Disability.  Except as otherwise provided herein, this Agreement shall automatically terminate without act by any party upon the death or disability of Executive.  For purposes of this Section 7.01, “disability” shall mean that for a period of 6 consecutive months, Executive is incapable of substantially fulfilling the duties set forth in Section 2 because of physical, mental or emotional incapacity resulting from injury, sickness or disease.  In the event of death of Executive, Executive’s estate shall receive any unpaid, earned compensation due Executive and this Agreement shall terminate. In the event of Executive’s disability, the Executive will be paid compensation, benefits and bonus which may accrue during the period of disability as set forth in Sections 5.

 

Universal Solar Technology, Inc.

Employment Agreement

Chief Financial Officer

  

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7.02.       Termination for Cause. Company may terminate Executive’s employment pursuant to the terms of this Agreement at any time for cause by giving written notice of termination.  Such termination will become effective upon the giving of such notice.  Upon any such termination for cause, Executive shall have no right to compensation, bonus or reimbursement under Section 5. For purposes of this Section 7.02, “cause” shall mean: (i) Executive is convicted of a felony which is directly related to Executive’s employment or the business of Company or could otherwise reasonably be expected to have a material adverse effect on Company’s business, prospects or future stock price which price should be measured over a period of at least six months.  Felonies involving the driving of motor vehicles shall not be grounds for termination; (ii) Executive, in carrying out his duties hereunder, has been found in a civil action to have committed gross negligence or intentional misconduct resulting in either case in direct material harm to Company; (iii) Executive is found in a civil action to have breached his fiduciary duty to Company resulting in direct profit to him; (iv) Executive is found in a civil action to have materially breached any provision of Section 9 or Section 10; (v) Executive’s repeated refusal to act in accordance with the reasonable directions of Company’s Board directing Executive to perform services consistent with Executive’s status as an officer of Company, which refusal is not cured by Executive within twenty (20) days of Executive’s receipt of written notice thereof from Company (provided, however, that if such breach cannot be cured within twenty (20) days and Executive commences the cure thereof and diligently pursues the same, such failure shall not constitute “cause” unless such breach is not cured in its entirety within thirty (30) days of Executive’s receipt of the written notice of breach); (vi) Executive commits acts of dishonesty, fraud, misrepresentation, or other acts of moral turpitude, that would prevent the effective performance of his duties; and (vii) Executive’s material breach of any obligations of Executive which remains uncured for more than twenty (20) days after written notice thereof by Company to Executive.  Executive's failure to comply with the requirements of Section 9 of this Agreement shall constitute a material breach of this Agreement.  The term "found in a civil action" shall not apply until all appeals permissible under the applicable rules of procedure or statute have been determined and no further appeals are permissible.

7.03.       Termination Without Cause.  Company’s Board, in its sole discretion, may terminate Executive’s employment without cause at any time upon thirty (30) days written notice.  Upon effectiveness of such termination, Executive shall be entitled to the severance package provided for in Section 5.05.

7.04.       Effect of Merger, Transfer of Assets, or Dissolution.  This Agreement shall be automatically terminated by any voluntary or involuntary dissolution of Company resulting from either a merger or consolidation in which Company is not the consolidated or surviving corporation, or a transfer of all or substantially all of the assets of Company. Upon effectiveness of such termination, Executive shall be entitled to the severance package provided for in Section 5.05.

 

Universal Solar Technology, Inc.

Employment Agreement

Chief Financial Officer

  

  

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7.05.       Termination by Executive.  Executive may terminate his obligations under this Agreement by giving Company at least two (2) months notice in advance or tendering to Company a total amount aggregating two (2) months of his annual salary.

8.           Non-Competition Agreement.

8.01.       Competition with Company.  Until termination of his employment and for a period of 12 months commencing on the date of termination, Executive, directly or indirectly, in association with or as a stockholder, director, officer, consultant, employee, partner, joint venture, member or otherwise of or through any person, firm, corporation, partnership, association or other entity, shall not compete with Company or any of its affiliates in any line of business which is competitive with the business of Company within any metropolitan area in the United States and the People’s Republic of China; provided, however, the foregoing shall not prevent Executive from accepting employment with an enterprise engaged in two or more lines of business, one of which is the same or similar to Company's business (the “Prohibited Business”) if Executive’s employment is totally unrelated to the Prohibited Business; provided, further, the foregoing shall not prohibit Executive from owning up to 5% of the securities of any publicly-traded enterprise provided Executive is not an executive, director, officer, consultant to such enterprise or otherwise reimbursed for services rendered to such enterprise.

8.02.       Solicitation of Customers.  During the periods in which the provisions of Section 8.01 shall be in effect, Executive, directly or indirectly, will not seek Prohibited Business from any Customer (as defined below) on behalf of any enterprise or business other than Company that is in direct competition with Company's business, refer Prohibited Business from any Customer to any enterprise or business other than Company to any enterprise or business that is in direct competition with Company's business or receive commissions based on sales or otherwise relating to the Prohibited Business from any Customer that is in direct competition with Company's business, or any enterprise or business other than Company.  For purposes of this Agreement, the term "Customer" means any person, firm, corporation, partnership, association or other entity to which Company or any of its affiliates sold or provided goods or services during the six-month period prior to the time at which any determination is required to be made as to whether any such person, firm, corporation, partnership, association or other entity is a Customer, or who or which was approached by or who or which has approached an employee of Company for the purpose of soliciting business from the Company or the third party, as the case may be.

8.03.       No Payment.  Executive acknowledges and agrees that no separate or additional payment to him will be required in consideration of his undertakings in this Section 8.

  

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Employment Agreement

Chief Financial Officer

  

  

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9.            Non-Disclosure of Confidential Information.

 

9.01.      Confidential Information. Confidential Information includes, but is not limited to, trade secrets as defined by the common law and statute in Delaware or any future Delawarean statute, processes, policies, procedures, techniques, designs, drawings, know-how, show-how, technical information, specifications, computer software and source code, information and data relating to the development, research, testing, costs, marketing, Company's budgets and strategic plans, and the identity and special needs of Customers, databases, data, all technology relating to Company's businesses, systems, methods of operation, client or Customer lists, Customer information, solicitation leads, marketing and advertising materials, methods and manuals and forms, all of which pertain to the activities or operations of Company, names, home addresses and all telephone numbers and e-mail addresses of Company's executives, former executives, clients and former clients. In addition, Confidential Information also includes Customers and the identity of and telephone numbers, e-mail addresses and other addresses of executives or agents of Customers (each a “Contact Person”) who are the persons with whom Company's executives and agents communicate in the ordinary course of business. Confidential Information also includes, without limitation, Confidential Information received from the Company's subsidiaries and affiliates. For purposes of this Agreement, the following will not constitute Confidential Information (i) information which is or subsequently becomes generally available to the public through no act of Executive, (ii) information set forth in the written records of Executive prior to disclosure to Executive by or on behalf of Company which information is given to Company in writing as of or prior to the date of this Agreement, and (iii) information which is lawfully obtained by Executive in writing from a third party (excluding any affiliates of Executive) who did not acquire such confidential information or trade secret, directly or indirectly, from Executive or Company.

9.02.       Legitimate Business Interests. Executive recognizes that Company has legitimate business interests to protect and as a consequence, Executive agrees to the restrictions contained in this Agreement because they further Company's legitimate business interests. These legitimate business interests include, but are not limited to: (i) trade secrets; (ii) valuable confidential business or professional information that otherwise does not qualify as trade secrets including all Confidential Information; (iii) substantial relationships with specific prospective or existing Customers or clients; (iv) Customer or client goodwill associated with Company's business; and (v) specialized training relating to Company's technology, methods and procedures.

9.03.       Confidentiality.  For a period of two (2) years following termination of employment, the Confidential Information shall be held by Executive in the strictest confidence and shall not, without the prior written consent of Company, be disclosed to any person other than in connection with Executive's employment by Company.  Executive further acknowledges that such Confidential Information as is acquired and used by Company or its affiliates is a special, valuable and unique asset.  Executive shall exercise all due and diligence precautions to protect the integrity of Company’s Confidential Information and to keep it confidential whether it is in written form, on electronic media or oral.  Executive shall not copy any Confidential Information except to the extent necessary to his employment nor remove any Confidential Information or copies thereof from Company's premises except to the extent necessary to his employment and then only with the authorization of the CEO of Company.  All records, files, materials and other Confidential Information obtained by Executive in the course of his employment with Company are confidential and proprietary and shall remain the exclusive property of Company or its Customers, as the case may be.  Executive shall not, except in connection with and as required by his performance of his duties under this Agreement, for any reason use for his own benefit or the benefit of any person or entity with which he may be associated or disclose any such Confidential Information to any person, firm, corporation, association or other entity for any reason or purpose whatsoever without the prior written consent of the CEO of Company.

   

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Employment Agreement

Chief Financial Officer

  

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10.        Conflicts of Interest.  While employed by Company, Executive shall not, directly or indirectly:

(a)           participate as an individual in any way in the benefits of transactions with any of Company's Customers, including, without limitation, having a financial interest in Company's Customers, or making loans to, or receiving loans, from, Company's Customers;

(b)           realize a personal gain or advantage from a transaction in which Company has an interest or use information obtained in connection with Executive's employment with Company for Executive's personal advantage or gain; or

(c)           accept any offer to serve as an officer, director, partner, consultant, manager with, or to be employed in a technical capacity by, a person or entity which does business with Company.

11.         General Provisions.

11.01.     Notices. Notices and Addresses. All notices, offers, acceptance and any other acts under this Agreement (except payment) shall be in writing, and shall be sufficiently given if delivered to the addressees in person, by Federal Express or similar receipted delivery, by facsimile delivery or, if mailed, postage prepaid, by certified mail, return receipt requested, as follows:

	  	
To Company:

	
Universal Solar Technology, Inc.

	  	  	
No. 1 Pingbei Road 2, Nanping Science &

	  	  	
Technology Industrial Park Zhuhai City,

	  	  	
Guangdong Province The People’s Republic of

	  	  	
China 519060

	  	  	  
	  	
To Executive:

	
Weilei Lv

	  	  	
Nanyang city, China

or to such other address as either of them, by notice to the other may designate from time to time. The transmission confirmation receipt from the sender's facsimile machine shall be evidence of successful facsimile delivery. Time shall be counted to, or from, as the case may be, the delivery in person or by mailing

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Employment Agreement

Chief Financial Officer

   

  

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11.02.     Attorneys’ Fees and Costs.  If any legal action is necessary to enforce or interpret the terms of this Agreement, the prevailing party shall be entitled to reasonable attorneys' fees, costs, and necessary disbursements in addition to any other relief to which that party may be entitled. This provision shall be construed as applicable to the entire Agreement.

11.03.     Modifications. Any modification of this Agreement will be effective only if it is in writing signed by the party to be charged.

11.04.     Effect of Waiver.  The failure of either party to insist on strict compliance with any of the terms, covenants, or conditions of this Agreement by the other party shall not be deemed a waiver of that term, covenant, or condition, nor shall any waiver or relinquishment of any right or power at any one time or times be deemed a waiver or relinquishment of that right or power for all or any other times.

11.05.     Partial Invalidity.  If any provision in this Agreement is held by a court of competent jurisdiction to be invalid, void, or unenforceable, the remaining provisions shall nevertheless continue in full force without being impaired or invalidated in any way.

11.06.     Law Governing Agreement.  This Agreement shall be governed by and construed in accordance with the laws of the State of Nevada.

11.07.     Counterparts.  This Agreement 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. The execution of this Agreement may be by actual or facsimile signature.

11.08.     Additional Documents.  The parties hereto shall execute such additional instruments as may be reasonably required by their counsel in order to carry out the purpose and intent of this Agreement and to fulfill the obligations of the parties hereunder.

11.09.     Section and Paragraph Headings.  The section and paragraph headings in this Agreement are for reference purposes only and shall not affect the meaning or interpretation of this Agreement.

11.10.     Arbitration.  Except for a claim for equitable relief, any controversy, dispute or claim arising out of or relating to this Agreement, or its interpretation, application, implementation, breach or enforcement which the parties are unable to resolve by mutual agreement, shall be settled by submission by either party of the controversy, claim or dispute to binding arbitration in China International Economic and Trade Arbitration Commission (unless the parties agree in writing to a different location), before three arbitrators in accordance with the rules of the American Arbitration Association then in effect.  In any such arbitration proceeding the parties agree to provide all discovery deemed necessary by the arbitrators.  The decision and award made by the arbitrators shall be final, binding and conclusive on all parties hereto for all purposes, and judgment may be entered thereon in any court having jurisdiction thereof.

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Employment Agreement

Chief Financial Officer

  

  

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11.11.     Entire Agreement.  This Agreement supersedes any and all other Agreements, either oral or in writing, between the parties hereto with respect to the employment of Executive by Company, and contains all of the covenants and Agreements between the parties with respect to that employment in any manner whatsoever. Each party to this Agreement acknowledges that no representations, inducements, promises, or Agreements, orally or otherwise, have been made by any party, or anyone acting on behalf of any party, which are not embodied herein, and that no other Agreement, statement, or promise not contained in this Agreement shall be valid or binding.

IN WITNESS WHEREOF, Company and Executive have executed this Agreement as of the date and year first above written.

	
COMPANY:

	  	
EXECUTIVE:

	
Universal Solar Technology, Inc.

	  	
Weilei Lv

	  	  	  
	
/s/ Wensheng Chen

	  	
/s/ Weilei Lv

	
         

	  	
     

	
Wensheng Chen

	  	
Weilei Lv

Universal Solar Technology, Inc.

Employment Agreement

Chief Financial Officer

  

  

Page 10 of 10Exhibit 4.1

SUBSCRIPTION AGREEMENT

RICHFIELD OIL & GAS COMPANY

A Nevada Corporation

THIS SUBSCRIPTION AGREEMENT made this ___ day of __________, 2011 by and between Richfield Oil & Gas Company, a Nevada corporation (the “Issuer”), and _________________ (the “Subscriber”), who, for and in consideration of the promises and covenants set forth herein, do here to agree as follows:

1.         Subscription.   The Subscriber hereby subscribes for _______ Common shares at a price of US$0.16 per share (the “Subscription Price”), and agrees to make a capital contribution to the Issuer in the amount of ____________________   USDollars and __/100 (US$__________) which the Subscriber has tendered herewith. This Subscription Agreement (“Subscription”) is an irrevocable offer by the Subscriber to subscribe for the securities offered by the Issuer, and, subject to the terms hereof; shall become a contract for the sale of said securities upon the acceptance thereof by the Issuer.

2.         Warrant.   The Subscriber hereby shall be granted a warrant to acquire an additional one-half share for each share issued pursuant to paragraph 1 above at a price of $0.25 per share at any time during the one year period starting on the date of the acceptance by the issuer and ending 1 year from that date.

3.          Acceptance.   This Subscription Agreement is made subject to the Issuer’s discretionary right to accept or reject the subscription herein, and the Subscriber will be promptly notified as to whether the subscription has been accepted. If the Issuer shall for any reason reject all or part of this subscription, the amount paid by the Subscriber with respect to the rejected Subscription or part thereof, will be refunded, without interest. Acceptance of this Subscription by the Issuer will be evidenced by the execution hereof by an officer of the Issuer.

4.          Subscriber Representations. The Subscriber hereby represents and warrants that:

 (a)            The Subscriber’s representations in this Agreement and the information contained in the Subscriber’s Purchaser Questionnaire are complete and accurate to the best of the Subscriber’s knowledge, and the Issuer and any sales agent may rely upon them. The Subscriber will notify the Issuer and any such agent immediately if any material change occurs in any of this information before the sale of the Shares.

(b)            The Subscriber is an “accredited investor” as defined under Rule 501 of Regulation D.

 

(c)            The Subscriber is able to bear the economic risk of an investment in the securities for an indefinite period of time, can afford the loss of the entire investment in the securities, and will, after making an investment in the securities, have sufficient means of providing for his (or her) current needs and possible future contingencies. Additionally, the Subscriber’s overall commitment to investments which are not readily marketable is not disproportionate to his/her net worth and this Subscription will not cause such overall commitment to become excessive.

 

(d)            The securities subscribed for herein will not be sold by the Subscriber without registration under applicable securities acts or a proper exemption from such registration.

 

  

  

 

(e)           The securities subscribed for herein are being acquired for the Subscriber’s own account, for investment purposes, and not on behalf of any other person or with a view to, or for resale in connection with, any distribution thereof within the meaning of the Securities Act of 1933. The Subscriber is aware that there are substantial restrictions on the transferability of the securities, that there will be no known public market for the securities, and, accordingly, it is unlikely that the Subscriber will be able to liquidate an investment in the securities.

 

(f)            The Subscriber has had access to any and all information concerning the Issuer which the Subscriber and the Subscriber’s financial, tax and legal advisors required or considered necessary to make a proper evaluation of this investment. In making the decision to purchase the securities herein subscribed for, the Subscriber and his advisers have relied solely upon their own independent investigations, and fully understand that there are no guarantees, assurances or promises’ in connection with any investment hereunder and understand that the particular tax consequences arising from this investment in the Issuer will depend upon the individual circumstances of the Subscriber, The Subscriber further understands that no opinion is being given as to any securities or tax matters involving the Offering.

 

(g)           All of the representations and warranties of the Subscriber contained herein and all information furnished by the Subscriber to the Issuer are true, correct and complete in all respects, and the subscriber agrees to notify the Issuer immediately of any change in any representation, warranty or other information set forth herein.

 

(h)           The Subscriber also understands and agrees that stop transfer instructions relating to the securities will be placed in the Issuer’s stock transfer ledger, and that the certificates evidencing the securities sold will bear legends in substantially the following form:

 “The securities represented by this Certificate have not been registered under the Securities Act of 1933 (the “Act”) and are “restricted securities” as that term is defined in Rule 144 under the Act. The securities may not be offered for sale, sold or otherwise transferred except pursuant to an effective registration statement under the Act or pursuant to an exemption from registration under the Act, the availability of which is to be established to the satisfaction of the Issuer.”

(i)           Subscriber has been given the unrestricted opportunity to ask questions of, and receive answers from, the Issuer, or persons acting on its behalf, concerning the terms and conditions of, and all other matters relating to the offering, and has been given the unrestricted opportunity to obtain such additional information with respect to the offering as he has desired, including, but not limited to, any additional information necessary to verify the accuracy of the information set forth in the attached documentation.

 

(j)           The Subscriber knows that the securities subscribed for herein are offered and sold pursuant to exemptions from registration under the Securities Act of 1933, and state securities law based, in part, on these warranties and representatives, which are the very essence at this Subscription Agreement, and constitute a material part of the bargained-for consideration without which this Agreement would not have been executed.

 

(k)           By reason of the Subscriber’s business or financial experience or the business or financial experience of professional advisors who are unaffiliated with and who are not compensated by the Issuer or any affiliate or selling agent of the Issuer, directly or indirectly, the Subscriber has the capacity to protect his/her own interest in connection with this transaction or has a pre-existing personal or business relationship with the Issuer or one or more of its officers, directors or controlling persons consisting of personal or business contacts of a nature and duration such as would enable a reasonably prudent purchaser to be aware of the character, business acumen and general business and financial circumstances of such person with whom such relationship exists.

  

  

 

(l)            This Agreement when fully executed and delivered by the Issuer will constitute a valid and legally binding obligation of the Subscriber, enforceable in accordance with its terms. The Subscriber, if it is a partnership, joint venture, corporation, trust or other entity, was not formed or organized for the specific purpose of acquiring the Shares. The purchase of the Shares by the Subscriber, if it is an entity investor, is a permissible investment in accordance with the Subscriber’s Articles of Incorporation, bylaws, partnership agreement, declaration of trust or other similar charter document, and has been duly approved by all requisite action by the entity’s owners, directors, officers or other authorized managers. The person signing this document and all documents necessary to consummate the purchase of the Shares has all requisite authority to sign such documents on behalf of the Subscriber, if it is an entity investor.

 

(m)          The Subscriber has not duplicated or distributed the Business Plan to anyone other than his personal advisors, and will not do so in the future.

 

(n)           The securities offered hereby were not offered to the Subscriber by way of general solicitation or general advertising and at no time was the Subscriber presented with or solicited by means of any leaflet, public promotional meeting, circular, newspaper or magazine article, radio or television advertisement.

 5.          Entire Agreement.      This Subscription Agreement together with the other documents executed contemporaneously herewith, constitute the entire agreement between the parties with respect to the matters covered thereby, and may only be amended by a writing executed by all parties hereto.

6.           Survival of Representations.       The representations, warranties, acknowledgments and agreements made by the Subscriber shall Survive the acceptance of this Subscription and run in favor or, and for the benefit of, the Issuer.

7.           Waiver.        No waiver or modification of any of the terms of this Agreement shall be valid unless in writing. No waiver of a breach of, or default under, any provision hereof shall be deemed a waiver of such provision or of any subsequent breach or default of the same or similar nature or of any other provision or condition of this Agreement.

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

 9.           Notices.        Except as otherwise required in this Agreement, any notice required or permitted under this Agreement shall be given in writing and shall be deemed effectively given upon personal delivery or upon deposit with the United States Post Office, by registered or certified mail, postage prepaid, addressed as follows:

	 	
To the Issuer: 

	
Richfield Oil & Gas Company

15 West South Temple

Suite 1050

Salt Lake City, Utah  84101

	
  

	
To the Subscriber:

	
At the address set forth beneath the

Subscriber’s signature

  

  

 

 

10.         Non-Assignable.      The obligations of the Subscriber hereunder shall not be delegated or assigned to any other party without the prior written consent of the Issuer.

SUBSCRIBER:

	  	    	  
	  	
(Signature)

	  
	  	    	  
	  	
(Print Name)

	  

Direction to Issue Shares as follows:

	  	
  

	  	
_______ shares

	  	
Name

	  	  
	  	  	  	  
	  	
    

	  	  
	  	
  

	  	  
	  	
  

	  	  
	  	
Address

	  	  

	
Tax ID No.:

	
  

	  
	  	  	  

Number of Units Subscribed For Purchase:

___________

Dollar Amount of Subscription:

US$ ____________

Wiring Instructions

	  	
    

	  
	  	
  

	  
	  	
  

	  
	  	
  

	  

	
ACCEPTED:

	  
	
Richfield Oil & Gas Company

	  
	
By:

	
    

	  	  
	
Date:

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00197-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00197-of-00352.parquet"}]]