Document:

ex10x1.htm

Exhibit 10.1

 

	
**Note:

	
Confidential Information has been omitted pursuant to a request for confidential treatment and has been filed separately with the Securities and Exchange Commission

ACCREDITED MEMBERS, INC.

March 9, 2011

Mr. Ben Stein

________________________________

RE:           Agreement

Dear Mr. Stein:

Accredited Members Inc. (“AMI”) is excited that you have agreed to provide certain services for and on behalf of AMI and serve as the face of AMI’s national membership campaign.  To that end AMI appreciates that you have agreed to permit AMI to use your name and likeness in promoting its business in general and AMI memberships (see attached brochure) in various mediums including print and the internet in advertisements, our website, and in sales presentations.  This letter sets forth the mutual understanding and agreements between yourself and AMI by which you have agreed to provide certain services on behalf of AMI.

 

1.           Services.                       AMI provides various investment related products and services primarily focusing on micro-cap companies, including: the publication of investment related research and information regarding microcap companies; the publication of a magazine; maintaining a website that includes financial information as well as provides online social networking; and holding conferences intended for individuals and companies to identify and build relationships.  To help AMI promote its business Mr. Stein will perform the following services for and on behalf of AMI:

a.           Mr. Stein will make himself available for a video and/or photo shoot in Los Angles California on March 2011, with the specific date and time to be determined by AMI (but expected to be on March 24, 2011).  At that time AMI and its representatives will shoot a brief video in which Mr. Stein will appear and speak, and will also take various pictures with and of Mr. Stein.  During the video and photo shoot Mr. Stein will promote the benefits of AMI’s products and services (including memberships, its research, as well as the benefits of using investment research in micro cap investment allocations).  All videos and photographs taken will be used by AMI to promote its business in written materials, on AMI’s website, as well as in promotional materials and advertisements.

b.           Mr. Stein will make himself available the same day as the film/video production/shoot outlined above for his photograph to be taken with products and materials developed by, and intended to promote, AMI (such as AMI analyst reports & the AMI Magazine).  AMI will use these photos in various forms of its materials and through various mediums, including its written materials ass well as print and internet advertisements.

 

 

 

  

  

  

2.           Name and Likeness.

a.           During the term of this letter agreement Mr. Stein hereby grants AMI a non-exclusive (except as otherwise indicated) worldwide right and license to use Mr. Stein’s name and likeness (including but not limited to the photographs and video taken in accordance with section one above) for the promotion of its business activities and operations and for the offer and sale of its products and services (including on its website, written materials, and in all forms of advertisements).

b.           Mr. Stein acknowledges and agrees that during the term of this letter agreement he will not permit his name and likeness to be used with respect to the promotion of companies, or other products and services, that are competitive to those provided by and through AMI.

c.           Prior to their initial use, any written materials or videos to be used by AMI using Mr. Stein’s name and likeness will be subject to Mr. Stein’s prior approval, which shall not be unreasonably withheld.

3           Fees and Expenses.

a.           During the term of this letter agreement AMI will pay Mr. Stein $*** [Confidential treatment requested — the omitted information has been filed separately with the Securities and Exchange Commission], through four quarterly payments of $*** [Confidential treatment requested — the omitted information has been filed separately with the Securities and Exchange Commission]. The first payment will be made on the execution of this letter agreement (which is intended to be the payment for the period of April 1, 2001 through June 30, 2011). The second payment would be due to Mr. Stein on July 1, 2011, the third payment will be due October 1, 2011 and the final payment will be due January 1, 2012.

b.           AMI will pay all of Mr. Stein’s reasonable expenses in performing services for and on behalf of AMI, including travel related expenses (if any).

4.           Term of the Agreement.  This agreement between AMI and Mr.  Stein is for a term through March 31, 2012   At any time AMI and Mr. Stein may elect to renew their agreements and understandings set forth in this letter agreement or enter into another agreement on mutually agreeable terms and conditions.

5.           Restrictions.  During the term of this letter agreement Mr. Stein will not endorse, promote, or permit his name and likeness to be used for the promotion of other providers of investment research or companies that provide similar products and services to AMI.

6.           Public Statements. 

a.           Mr. Stein acknowledges that AMI through its parent company Accredited Members Holding Corporation may have an obligation to disclose the terms of this letter agreement in accordance with the federal securities laws.

 

 

  

  

  

b.           Mr. Stein understands that AMI (or its parent company) may issue one or more press releases concerning this letter agreement and the relationship between Mr. Stein and AMI.     Mr. Stein shall have the opportunity to review any such news release prior to its dissemination.

7.           Confidentiality.  Mr. Stein acknowledges that he may receive information regarding AMI that is not public and/or is otherwise proprietary or confidential.  Mr. Stein agrees not to disclose such information to anyone outside of AMI, and further agrees not to use such information for any purpose, except for the benefit of AMI.  This restriction does not apply to any information that AMI makes public.

8.           Remedies. Both AMI and Mr. Stein agree and acknowledge that the breach or threatened breach by Mr. Stein of the terms of this letter agreement may result in significant and continuing injury to AMI, the monetary value of which would be impossible to establish. Therefore, Mr. Stein agrees that AMI shall be entitled to seek equitable relief or injunctive relief in the event of any breach or threatened breach of this agreement between the parties.  AMI shall also be entitled to any other remedies available to it pursuant to law or this letter agreement.

9.           Signatures.  This letter agreement may be executed in one or more counterparts which when taken together will constitute one and the same instrument.  Execution of the document by facsimile or pdf shall be considered an original document.

10.           Governing Law; Venue.  Any disputes arising from the agreements and understanding set forth in this letter agreement will be governed by and construed under the laws of the State of Colorado without regard to conflicts of laws principles. Venue for any such dispute shall be the federal and state courts located in the metropolitan area of Denver, Colorado.

11.           Entire Agreement. This Agreement represents the entire agreement between the parties and supersedes all prior negotiations, representations, agreements, arrangements, and understandings, if any, either written or oral, between the parties with respect to the subject matter of this Agreement, none of which shall be used to interpret or construe this Agreement.

12.           Assignment Prohibited.  No assignment of this letter agreement shall be made without the prior written consent of the other party.

If this letter correctly sets forth your understanding of the terms of our agreement, kindly so acknowledge by signing the duplicate copy of this letter and returning it to the undersigned.

	 	Very truly yours, 

ACCREDEDITED MEMBERS, INC.

	 
	 	 	 	 
	
 

	
By: 

	/s/ J.W. Roth	 
	 	 	

J.W. Roth, Co-Chairman

	 
	 	 	 	 
	 	 	 	 

The terms set forth in this letter agreement are agreed and acknowledged as of this 10th day of March, 2011.

	 	

BEN STEIN

	 
	 	 	 	 
	
 

	
 

	/s/ Ben SteinASSET PURCHASE AGREEMENT

Ex. 10.1

RESCISSION AGREEMENT

This Rescission Agreement (this “Agreement”) is made and entered into as of May 13, 2011, by and among Gold Standard Mining Corp., a Wyoming corporation (“GS Wyoming”), Rosszoloto Co. Ltd., a limited liability company organized under the laws of Russia (“Rosszoloto”) and Araik Khachatryan (“Khachatryan”).  GS Wyoming, Rosszoloto and Khachatryan are each referred to individually as a “Party” and collectively as the “Parties.” 

RECITALS

WHEREAS, the Parties previously entered into that certain Exchange Agreement, dated as of February 9, 2009 (the “Exchange Agreement”), pursuant to which GS Wyoming agreed to issue to Khachatryan (the sole owner of Rosszoloto as of the date of the Exchange Agreement) shares of common stock of GS Wyoming, which shares were converted into 49,500,000 shares of common stock of Gold Standard Mining Corp., a Nevada corporation (“GSMC”) (the “GSMC Shares”), in view of the GS Wyoming Acquisition (as defined below), in exchange for all of the outstanding equity interests of Rosszoloto (the “Rosszoloto Interests”); and

WHEREAS, GSMC (f/k/a Fluid Solutions, Inc.) acquired all of the outstanding capital stock of GS Wyoming, pursuant to an exchange agreement, dated May 6, 2009, with GS Wyoming and its shareholders (the “GS Wyoming Acquisition”); and 

WHEREAS, at the date of the GS Wyoming Acquisition, GS Wyoming’s sole asset was the Exchange Agreement to acquire Rosszoloto; and

WHEREAS, Rosszoloto is engaged in the business of operating gold mines in the Amur region of Russia; and 

WHEREAS, GSMC’s sole purpose in acquiring GS Wyoming was to acquire Rosszoloto, and on June 3, 2010, GS Wyoming completed the acquisition of Rosszoloto; and

WHEREAS, the Parties and GSMC understood that as a reporting company under the United States Securities Exchange Act of 1934, as amended, GSMC would be required to file quarterly and annual financial statements on a consolidated basis (including Rosszoloto) prepared in accordance with generally accepted accounting principles in the United States (“GAAP”), and to have an audit of such annual financial statements; and

WHEREAS, GSMC has been engaged in a costly and time consuming attempt to convert Rosszoloto’s financial information from the format in which it has been historically maintained under Russian accounting conventions into GAAP compliant financial records and statements, and

WHEREAS, the board of directors of GSMC has determined that this effort to convert Rosszoloto’s financial information into GAAP compliant format is wasting GSMC’s resources and impeding the efforts of management to fully explore and develop the mining properties in Russia; and

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WHEREAS, since the closing of the acquisition of Rosszoloto, there have been no financial transactions between Rosszoloto, on the one hand, and GSMC and GS Wyoming, on the other hand (e.g. dividends from Rosszoloto, capital contributions or loans from GMSC) or intermingling of assets or liabilities of these companies; and

WHEREAS, the Parties desire to rescind the Exchange Agreement, effective as of the date of the Exchange Agreement, and place the Parties in the same position had the Exchange Agreement not been entered into or closed. 

NOW, THEREFORE, in consideration of the premises and of the mutual covenants and agreements herein set forth, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties covenant and agree as follows:  

1.

Rescission of Exchange Agreement.  The Parties hereto hereby rescind and cancel the Exchange Agreement, effective as of the date of the Exchange Agreement, and declare the Exchange Agreement and all transactions arising therefrom to be null and void ab initio.  Each of the Parties hereto further agrees to take all such actions to place each Party in his or its respective position as if no Party had entered into the Exchange Agreement.  

2.

Surrender of Shares.  Concurrently with the execution of this Agreement, Khachatryan shall surrender to GSMC for cancellation any and all certificates representing the GSMC Shares, and GS Wyoming shall transfer back to Khachatryan the Rosszoloto Interests.  Each of the Parties hereto further agrees to take all steps necessary and proper to unwind the Exchange Agreement, including, without limitation, promptly executing, delivering and/or filing any and all instruments, documents, notices or other agreements that reflect or evidence the cancellation of the Exchange Agreement.  

3.

Representations and Agreements of GS Wyoming.  GS Wyoming hereby represents and warrants that GS Wyoming has not endorsed, sold, transferred, assigned or pledged the Rosszoloto Interests or any interest in the Rosszoloto Interests.  GS Wyoming agrees to indemnify and hold Khachatryan harmless from any damages, losses, liabilities, costs and expenses resulting from a breach of the foregoing representation.

4.

Representations and Agreements of Khachatryan.  Khachatryan hereby represents and warrants that he has not currently endorsed, sold, transferred, assigned or pledged the GSMC Shares or any interest in the GSMC Shares.  Khachatryan agrees to indemnify and hold GS Wyoming and GSMC harmless from any damages, losses, liabilities, costs and expenses resulting from a breach of the foregoing representation. 

5.

Access to Information; Cooperation.  Following the execution of this Agreement, Khachatryan will permit, and will cause Rosszoloto to permit, upon reasonable prior notice and at reasonable times, access to, and will promptly make available to GSMC and GS Wyoming and their duly authorized representatives for inspection, review, and photocopying, all properties, books, records, accounts, documents and other information of or relating in any way to Rosszoloto as GSMC or GS Wyoming may believe necessary for each to comply with any applicable corporate, tax, securities or other law, rule or regulation (e.g. filing tax returns and complying with disclosure obligations under the United States Securities Exchange Act of 1934, as amended, in the case of GSMC) or to comply with any applicable law, rule or regulation or upon demand from a governmental authority.  

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Miscellaneous.

5.1

Further Assurances.  Each Party will use all reasonable good faith efforts to take, or cause to be taken, all actions and to do, or cause to be done, all things necessary or reasonably desirable under applicable law to consummate the transactions contemplated by this Agreement.  The Parties agree (i) to furnish upon request to each other such further information, (ii) to execute and deliver to each other such other documents, and (iii) to do such other acts and things, all as any other Party may reasonably request for the purpose of carrying out the intent of this Agreement.

5.2

Survival of Representations and Warranties.  All representations, warranties and covenants under this Agreement shall survive the delivery of this Agreement.  

5.3

Affiliates.  Wherever used in this Agreement, the term “affiliate” means, as respects any person or entity, any other person or entity that directly, or indirectly through one or more intermediaries, controls, is controlled by, or is under common control with the first person or entity.  

5.4

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

5.5

Entire Agreement.  This Agreement contains the entire understanding between the Parties hereto with respect to the subject matter hereof, and supersedes all prior and contemporaneous agreements and understandings, inducements or conditions, express or implied, oral or written, between the Parties hereto, with respect thereto.

5.6

Effect of Headings.  The Section headings used in this Agreement are included for purposes of convenience only, and shall not affect the construction or interpretation of any of the provisions hereof.

5.7

Severability.  In the event that any provision of this Agreement is invalid or enforceable under any applicable statute or rule of law, then such provision shall be deemed inoperative to the extent that it may conflict therewith and shall be deemed modified to conform with such statute or rule of law.  Any provision hereof which may prove invalid or unenforceable under any law shall not affect the validity or enforceability of any other provision hereof.

5.8

Notices.  All notices, requests, demands, claims, and other communications hereunder will be in writing.  Any notice, request, demand, claim, or other communication hereunder shall be deemed duly given if it is delivered by a nationally recognized courier or other means of personal service, or sent by facsimile or registered or certified mail, return receipt requested, postage prepaid, and addressed to the intended recipient as set forth below:

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	If to GS Wyoming:

	Gold Standard Mining Corp.

28030 Dorothy Drive, Suite 307

Agoura Hills, CA 91301

Attention: CEO

	 	 
	If to Khachatryan or Rosszoloto:

	Araik Khachatryan

No. 9 Kntimirova St. 

Blagovenshensk, Russia

	 	 

Any Party may give any notice, request, demand, claim, or other communication hereunder using any other means, but no such notice, request, demand, claim, or other communication shall be deemed to have been duly given and until it actually is received by the individual for whom it is intended.  Any Party may change the address to which notices, requests, demands, claims, and other communications hereunder are to be delivered by giving the other Parties notice in the manner herein set forth.

5.9

Waivers.  No waiver by any Party of any misrepresentation or breach of any provision hereunder, whether intentional or not, shall be deemed to extend to any prior or subsequent misrepresentation or breach of any provision hereunder or affect in any way any rights arising by virtue of any prior or subsequent occurrence.

5.10

Successors and Assigns.  This Agreement shall be binding upon and inure to the benefit of the Parties and their successors and assigns, except that no Party may assign or transfer his or its rights or obligations under this Agreement.

5.11

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.  In the event that any signature is delivered by facsimile transmission or by e-mail delivery of a “pdf” format data file, such signature shall create a valid and binding obligation of the Party executing (or on whose behalf such signature is executed) with the same force and effect as if such facsimile or “pdf” signature page were an original thereof.

[Signature Page Follows]

IN WITNESS WHEREOF, the Parties have entered into this Agreement as of the date first set forth above.

	 	GOLD STANDARD MINING CORP., a Wyoming corporation

By:/s/ Pantelis Zachos________

      Pantelis Zachos

Chief Executive Officer 

	 	 
	 	ROSSZOLOTO CO. LTD.

By: /s/ Araik Khachatryan____

      Araik Khachatryan

      Chief Executive Officer

	 	 
	

	

/s/ Araik Khachatryan____

Araik Khachatryan

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