Document:

helix_8k-ex1004.htm

EXHIBIT 10.4

 

PUT RIGHT AGREEMENT

 

PUT RIGHT AGREEMENT (this “Agreement”) dated as of ____ __, 2009, between Helix Wind, Corp., a Nevada corporation (the “Company”),
and _________________GmbH, a German corporation (“Holder”).

 

WHEREAS, pursuant to the terms and provisions of that certain Stock Purchase Agreement dated of even date herewith, by and among the Company, Holder, the other Sellers and Venco Power GmbH (the “Purchase
Agreement”; capitalized terms used but not defined herein shall have the meanings ascribed to them in the Purchase Agreement), the Holder has acquired _______ shares of the Company’s common stock, par value $0.0001 per share (the “Shares”); and

 

WHEREAS, the Company has agreed in the Purchase Agreement to provide the Holder with certain put rights with respect to the Shares, as further described and provided for in this Agreement.

 

NOW, THEREFORE, for and in consideration of the premises and covenants contained herein and other good and valuable consideration in hand received by each party from the other, the  receipt, adequacy and sufficiency of which is hereby acknowledged, the
parties hereto hereby covenant and agree as follows:

 

1.   Put Rights. Subject to the terms and conditions herein, at
any time during the Put Period (as defined below) the Company irrevocably and unconditionally grants to the Holder the right, privilege, and option to sell to the Company (the “Put Option”), and the Company irrevocably and unconditionally agrees to buy, all or any portion of the Shares (“Put Shares”) upon the exercise by the Holder of its rights hereunder at
$2.00 per Share (the “Put Price”).

 

Notwithstanding the foregoing, if at any time commencing after the first anniversary of the Closing Date, (i) the volume weighted average for 90 days of the Company’s common stock on the stock exchange or national quotation system where the Common Stock is then traded or quoted is at least $3.00 per share
and (ii) the trading volume averages at least 50,000 shares per day during such same 90-day period (together, the “Automatic Termination Event”), this Put Option shall thereupon expire and without any further action by any of the parties shall automatically become null and void.

 

2.   Term.   The “Put Period” shall commence on the Closing Date and shall end on the earlier
of the Automatic Termination Event or at 11:59 p.m., San Diego, California time, on the date which is the second anniversary of the Closing Date, which date is hereby stipulated and agreed by the parties hereto to be _____, 20__.

 

3.   Exercise of Put Rights.  The Put Option shall be exercisable by notice in writing sent by the Holder (a
“Put Notice”) to the Company advising of the Holder’s election to exercise the Put Option.  Each Put Notice shall set forth the number of Put Shares to be sold to the Company.  The closing of the purchase and sale of the Put Shares shall take place within thirty (30) days after the Company’s receipt of the Put Notice (“Put Closing”).  The
exercise of the Put Option shall constitute an unconditional and irrevocable commitment by the Holder to sell, on the one hand, and the Company to purchase, on the other hand, all Put Shares being put to the Company by the Holder in accordance with the provisions of this Agreement.  On the date of the Put Closing, the Holder shall deliver to the Company at the Company’s offices set forth in Section 5 below stock certificate(s) representing such Put Shares. To the extent that the Holder is
not exercising the Put Option in full with respect to the Put Shares held by the Holder, the Company shall deliver at the Put Closing a stock certificate representing the number of shares of Common Stock not being sold by the Holder to the Company.

 

 

 

 

 

Alternatively, the Put Notice can provide that the Holder desires to purchase additional shares of common stock of the Company at the Put Price by a cashless exercise of the Put Option. If the Holder elects to receive additional shares of common stock of the Company, the
Company shall issue the Holder a number of shares of common stock computed using the following formula:

 

X=Y (A-B)

          A

	 	
   Where X= 
	
the number of shares of Common Stock to be issued to the Holder

	
  
	
Y=
	
the number of Put Shares purchasable under the Put Notice

 

	
  
	
A=
	
the market value of the stock on the date of the Put Notice

 

	
  
	
B=
	
$2.oo

 

4.   Covenants of the Holder.

 

(a)   The Holder represents, warrants, covenants and agrees that:

 

(i)   Upon exercise of the Put Option, Holder will be authorized and entitled to sell, transfer and convey to the Company the Put Shares, without any further required approvals or authorizations;
and

 

(ii)   Holder owns the Put Shares free and clear of any and all liens, claims, encumbrances or rights of others other than the Lock-Up Agreement with the Company, and when delivered to the Company
pursuant to the Put Option, the Put Shares shall be free and clear of any and all claims, liens, encumbrances or security interests of any kind whatsoever.

 

(b)   At any time after the date hereof, including without limitation, upon the exercise of the Put Option the Holder agrees to take any action and execute such additional documents and instruments
as may be requested by the Company which shall be necessary or desirable to carry out the purposes of this Agreement,.

 

5.   Notices.  All notices or other communications hereunder shall be delivered by (a) registered or certified mail, return receipt
requested, postage prepaid, (b) a nationally recognized overnight courier, (c) personally, by hand, or (d) facsimile transmission (with acknowledgement of complete transmission), to the persons at the addresses set forth below (or at such other address as such persons shall designate by like notice):

 

 

 

 

 

	
If to the Company, to:

 

Helix Wind, Corp.

1848 Commercial Street

San Diego, California 92113

Attn:

Facsimile:

	
 

With a copy to:

 

David Lubin & Associates, PLLC

5 North Village Avenue

Rockville Centre, New York 11570

Attn: David Lubin, Esq.

Facsimile: (516) 887-8250

	

	
Venco Power GmbH

Luisenburgweg 29

95182 Döhlau O.T. Tauperlitz

Germany

Facsimile No.: +49 9281 74119

 

If to the Sellers or the Principals, to:

 

FIBER-TECH Products GmbH

Tuchschererstraße 10

09116 Chemnitz

Germany

Facsimile No.:  +49 371 84276-28

 

	
Weser-Anlagentechnik Beteiligungs GmbH

Dorumer Weg 19

27576 Bremerhaven

Germany

Facsimile No.:  +49 4705 810 575

 

CLANA Power Systems GmbH

Luisenburgweg 29

95182 Döhlau O.T. Tauperlitz

Germany

Facsimile No.:  +49 9281 74119

 

With a copy to:

	
Coleman Tally LLP

7000 Central Parkway NE

Suite 1150

Atlanta, Georgia 30328

Facsimile: 770-698-9729
	  
	  	
Attn: John Boykin, Esq.

Facsimile:  (770) 698-9729

 

 

 

 

 

Any notice or other communications to be given or that may be given pursuant to this Agreement shall be in writing and shall be deemed to have been given: (x) five days after the deposit of such notice or communication in the United States mail, registered or certified, return receipt requested, with proper postage affixed
thereto; (y) the first business day after depositing such notice or communication with a nationally recognized overnight courier guaranteeing delivery no later than the next business day; or (z) upon delivery if delivered personally or sent by facsimile transmission to the appropriate address and person as provided hereinabove.  Rejection or other refusal to accept or the inability to deliver because of changed address of which no notice was given shall be deemed to be receipt of the notice, demand
or request sent.  By giving at least thirty (30) days’ written notice hereof, any party hereto shall have the right from time to change its respective address, and shall have the right to specify as its address any other address within the United States of America or Germany.

 

6.   Transferability.  In addition to the restrictions set forth in the Lock-Up Agreement restricting the transferability
of the Put Shares, the Holder shall not, directly or indirectly, sell, exchange, pledge, transfer, grant a proxy with respect to, devise, assign or in any way dispose of, encumber or grant a security interest in the Put Option at any time without the prior written consent of the Company.

 

(a)   Default. The Company hereby expressly acknowledges and agrees that, in the event of any such Put Default, Holder’s damages would
be difficult or impossible to ascertain or determine, the Holder will suffer immediate and irreparable harm, and the Holder shall be entitled, in addition to any and all other rights or remedies which may be available to the Holder under applicable Laws, to an injunction issued by a court of competent jurisdiction restraining the aforesaid breach or default of the Company and/or to an action for specific performance of the obligations of the Company hereunder, all without the necessity of posting a bond. Nothing
contained hereinabove, however, is intended to limit in any way any of the rights or remedies of the Holder under this Agreement, under the Secured Note or under any applicable Laws in respect of any breach or default of the Company under the terms of this Agreement.

 

7.   Amendment and Modification.  This Agreement shall not be amended, modified, or supplemented except by a writing signed by each
of the parties hereto.

 

8.   Entire Agreement.  This Agreement contains the entire agreement between the parties hereto with respect to the subject matter
hereof and supercedes all prior understandings, agreements, and arrangements, whether written or oral, regarding such subject matter.

 

9.   Governing Law.  This Agreement shall in all respects be governed by and construed in accordance with the laws of the United
Kingdom without giving effect to principles of conflict of laws.

 

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

 

11.   Time of Essence.  Time is of the essence of this Agreement and each and every provision hereof.

 

12.   Captions.  The captions contained in this Agreement are for reference purposes only and are not part of this Agreement.

 

[REMAINDER OF THE PAGE INTENTIONALLY LEFT BLANK-SIGNATURES CONTAINED ON FOLLOWING PAGE]

 

 

 

 

 

	
[Signature page to Put Right Agreement]

 

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

 

 

	  	
HELIX WIND, CORP.

A Nevada Corporation

	  	  
	  	
By:
	  
	  	  	
[Name]
	  
	  	  	
[Title]
	  
	  	  
	  	  
	  	  
	  	
By:
	  
	  	  	
[Name of Holder]Converted by EDGARwiz

Exhibit 10.1

CONSULTING SERVICES AGREEMENT

This Consulting Services Agreement (“Agreement”), dated June 5, 2008, is made by and between Web3Direct, Inc., a Florida corporation (“Consultant”), whose address is 1775 Forest Boulevard, Jacksonville, Florida 32246, and City Capital Corporation, a Nevada corporation (“Client”), having its principal place of business at 2000 Mallory Lane, Suite 130-301, Franklin, Tennessee 37067.

WHEREAS, Consultant has extensive background in the area of marketing and business growth consulting services;

WHEREAS, Consultant desires to be engaged by Client to provide such services to the Client on the terms and subject to the conditions set forth herein and has provided such services to Client since January 1, 2008;

WHEREAS, Client is a publicly held corporation and desires to further develop its business; and

WHEREAS, Client desires to engage Consultant to provide marketing and business growth consulting services to the Client on the terms and subject to the conditions set forth herein.

NOW, THEREFORE, in consideration for those services Consultant provides to Client, the parties agree as follows:

1.

Services of Consultant.

Consultant agrees to perform for Client all necessary services required in connection with providing marketing and business growth consulting services.

2.

Consideration.

For the services rendered by Consultant for Client, Client shall pay to Consultant for the fixed monthly retainer of Ten Thousand Dollars ($10,000) per month for the twelve (12) month period ending December 31, 2008.  Payment of the retainer shall be in the form of restricted shares of Client’s common stock (valued based on the closing price of this common stock on June 5, 2008 of twenty cents ($0.20) per share.  The retainer is payable on the first of each calendar month in advance (with the retainer for the period of January 1, 2008 through June 30, 2008 due upon the execution of this Agreement).

3.

Confidentiality.

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Each party agrees that during the course of this Agreement, information that is confidential or of a proprietary nature may be disclosed to the other party, including, but not limited to, product and business plans, software, technical processes and formulas, source codes, product designs, sales, costs and other unpublished financial information, advertising revenues, usage rates, advertising relationships, projections, and marketing data (“Confidential Information”). Confidential Information shall not include information that the receiving party can demonstrate (a) is, as of the time of its disclosure, or thereafter becomes part of the public domain through a source other than the receiving party, (b) was known to the receiving party as of the time of its disclosure, (c) is independently developed by the receiving party , or (d) is subsequently learned from a third party not under a confidentiality obligation to the providing party.  If Client and Consultant terminate this Agreement, all confidential materials in the possession of Consultant shall be returned to Client

4.

Expenses.

Miscellaneous expenses (other than standard office expenses) are not included in these fees and are billed separately.  These include items such as third party technical services (copywriting, programming and coding, printing of materials, graphic design, subscriptions on behalf of the company, purchase of media time or space, etc.), as well as travel expenses where necessary, such as coach transportation under four (4) hours (business class over 4 hours), meals, lodging, etc.

5.

Indemnification.

(a)

Client.

Client agrees to indemnify, defend, and shall hold harmless Consultant and /or his agents, and to defend any action brought against said parties with respect to any claim, demand, cause of action, debt or liability, including reasonable attorneys’ fees to the extent that such action is based upon a claim that: (i) is true, (ii) would constitute a breach of any of Client's representations, warranties, or agreements hereunder, or (iii) arises out of the negligence or willful misconduct of Client, or any Client Content to be provided by Client and does not violate any rights of third parties, including, without limitation, rights of publicity, privacy, patents, copyrights, trademarks, trade secrets, and/or licenses.

(b)

Consultant.

Consultant agrees to indemnify, defend, and shall hold harmless Client, its directors, employees and agents, and defend any action brought against same with respect to any claim, demand, cause of action, debt or liability, including reasonable attorneys' fees, to the extent that such an action arises out of the gross negligence or willful misconduct of Consultant.

(c)

Notice.

In claiming any indemnification hereunder, the indemnified party shall promptly provide the indemnifying party with written notice of any claim, which the indemnified party believes 

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falls within the scope of the foregoing paragraphs. The indemnified party may, at its expense, assist in the defense if it so chooses, provided that the indemnifying party shall control such defense, and all negotiations relative to the settlement of any such claim. Any settlement intended to bind the indemnified party shall not be final without the indemnified party's written consent, which shall not be unreasonably withheld.

6.

Limitation of Liability.

Consultant shall have no liability with respect to Consultant’s obligations under this Agreement or otherwise for consequential, exemplary, special, incidental, or punitive damages even if Consultant has been advised of the possibility of such damages. In any event, the liability of Consultant to Client for any reason and upon any cause of action, regardless of the form in which  the legal or equitable action may be brought, including, without limitation, any action in tort or contract, shall not exceed ten percent (10%) of the fee paid by Client to Consultant for the specific service provided that is in question.

7.

Termination and Renewal.

(a)

Term.

This Agreement shall become effective on the date appearing next to the signatures below and terminate one (1) year thereafter. Unless otherwise agreed upon in writing by Consultant and Client, this Agreement shall not automatically be renewed beyond its Term.

(b)

Termination.

Either party may terminate this Agreement on thirty (30) calendar day’s written notice, or if prior to such action, the other party materially breaches any of its representations, warranties or obligations under this Agreement. Except as may be otherwise provided in this Agreement, such breach by either party will result in the other party being responsible to reimburse the non-defaulting party for all costs incurred directly as a result of the breach of this Agreement, and shall be subject to such damages as may be allowed by law including all attorneys' fees and costs of enforcing this Agreement.

(c)

Termination and Payment.

Upon any termination or expiration of this Agreement, Client shall pay all unpaid and outstanding fees through the effective date of termination or expiration of this Agreement. And upon such termination, Consultant shall provide and deliver to Client any and all outstanding services due through the effective date of this Agreement.

8.

Miscellaneous.

(a)

Independent Contractor.

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This Agreement establishes an “independent contractor” relationship between Consultant and Client.  Consultant reserves the right to determine the method, manner and mean by which the services will be performed. Consultant is not required to perform the services during a fixed hourly or daily time and if the services are performed at the Client’s premises, then Consultant’s time spent at the premises is to be at the discretion of the Consultant; subject to the Client’s normal business hours and security requirements.

The services shall be performed by Consultant or Consultant’s staff, and Client shall not be required to hire, supervise or pay any assistants to help Consultant who performs the services under this agreement. Consultant shall not be required to devote Consultant’s full time nor the full time of Consultant’s staff to the performance of the services required hereunder, and it is acknowledged that Consultant has other Clients and Consultant offers services to the general public.

(b)

Rights Cumulative; Waivers.

The rights of each of the parties under this Agreement are cumulative.  The rights of each of the parties hereunder shall not be capable of being waived or varied other than by an express waiver or variation in writing.  Any failure to exercise or any delay in exercising any of such rights shall not operate as a waiver or variation of that or any other such right.  Any defective or partial exercise of any of such rights shall not preclude any other or further exercise of that or any other such right.  No act or course of conduct or negotiation on the part of any party shall in any way preclude such party from exercising any such right or constitute a suspension or any variation of any such right.

(c)

Benefit; Successors Bound. 

This Agreement and the terms, covenants, conditions, provisions, obligations, undertakings, rights, and benefits hereof, shall be binding upon, and shall inure to the benefit of, the undersigned parties and their heirs, executors, administrators, representatives, successors, and permitted assigns.

(d)

Entire Agreement.

This Agreement contains the entire agreement between the parties with respect to the subject matter hereof.  There are no promises, agreements, conditions, undertakings, understandings, warranties, covenants or representa­tions, oral or written, express or implied, between them with respect to this Agreement or the matters described in this Agreement, except as set forth in this Agreement.  Any such negotiations, promises, or understandings shall not be used to interpret or constitute this Agreement.

(e)

Assignment.

Neither this Agreement nor any other benefit to accrue hereunder shall be assigned or transferred by either party, either in whole or in part, without the written consent of the other party, and any purported assignment in violation hereof shall be void.

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(f)

Amendment.

This Agreement may be amended only by an instrument in writing executed by all the parties hereto.

(g)

Severability.

Each part of this Agreement is intended to be severable.  In the event that any provision of this Agreement is found by any court or other authority of competent jurisdiction to be illegal or unenforceable, such provision shall be severed or modified to the extent necessary to render it enforceable and as so severed or modified, this Agreement shall continue in full force and effect.

(h)

Section Headings.

The Section headings in this Agreement are for reference purposes only and shall not affect in any way the meaning or interpretation of this Agreement.

(i)

Construction.

Unless the context otherwise requires, when used herein, the singular shall be deemed to include the plural, the plural shall be deemed to include each of the singular, and pronouns of one or no gender shall be deemed to include the equivalent pronoun of the other or no gender.

(j)

Further Assurances.

In addition to the instruments and documents to be made, executed and delivered pursuant to this Agreement, the parties hereto agree to make, execute and deliver or cause to be made, executed and delivered, to the requesting party such other instruments and to take such other actions as the requesting party may reasonably require to carry out the terms of this Agreement and the transactions contemplated hereby.

(k)

Notices.

Any notice which is required or desired under this Agreement shall be given in writing and may be sent by personal delivery or by mail (either a. United States mail, postage prepaid, or b. Federal Express or similar generally recognized overnight carrier), addressed as follows (subject to the right to designate a different address by notice similarly given):

To Client:

Ephren W. Taylor II, Chief Executive Office

City Capital Corporation

2000 Mallory Lane, Suite 130-301

Franklin, Tennessee 37067.

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To Consultant:

Waldo E. Brantley III, President

Web3Direct, Inc.

1775 Forest Boulevard

Jacksonville, Florida 32246

(l)

Governing Law.

This Agreement shall be governed by the interpreted in accordance with the laws of the State of Nevada without reference to its conflicts of laws rules or principles.  Each of the parties consents to the exclusive jurisdiction of the federal courts of the State of California in connection with any dispute arising under this Agreement and hereby waives, to the maximum extent permitted by law, any objection, including any objection based on forum non coveniens, to the bringing of any such proceeding in such jurisdictions.

(m)

Consents.

The person signing this Agreement on behalf of each party hereby represents and warrants that he has the necessary power, consent and authority to execute and deliver this Agreement on behalf of such party.

(n)

Survival of Provisions.

The provisions contained in paragraphs 3, 5, 6, and 8 of this Agreement shall survive the termination of this Agreement.

(o)

Execution in Counterparts.

This Agreement may be executed in any number of counterparts, each of which shall be deemed an original and all of which together shall constitute one and the same agreement.

IN WITNESS WHEREOF, the parties have caused this Agreement to be executed and have agreed to and accepted the terms herein on the date written above.

CLIENT:

City Capital Corporation

By: /s/  Ephren W. Taylor II

Ephren W. Taylor II, CEO 

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CONSULTANT:

Web3Direct, Inc.

By: /s/  Waldo E. Brantley III

Waldo E. Brantley III, President

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