Document:

EXHIBIT
      10.1

     

    EXCLUSIVE
      OPTION TO PURCHASE

    
       

      This
        Exclusive Option to Purchase is made and entered into by and between Ameriwest
        Energy Corp., (“Ameriwest”), and Alpha Development Corporation and JK Minerals,
        Inc. (collectively, "Seller"), on
        the
        15th
        day of
        April,
        2008,
        (hereinafter "Execution Date"). For good and valuable consideration, the
        parties
        agree to the following definitions, terms and conditions:

       

      Section
        1. Definitions
        

      
        	
                1.1

              	
                “Assets”
                  are defined as all of Seller's right, title and interest in and
                  to
                  hydrocarbon substances, the
                  tangibles and the miscellaneous interests insofar as and to the
                  extent
                  they pertain to the Cole Creek
                  Unit and Adjacent Leases (Exhibit A), located in Natrona and Converse
                  Counties, Wyoming,
                  including:

              

      

      

      
        	 	
                (a)

              	
                any
                  and all wells, well bores, and
                  casing;

              

      

      
        	 	
                (b)

              	
                any
                  and all teases, leaseholds, contracts and agreements; any
                  and all hydrocarbon substances produced after the
                  Closing;

              

        	 	
                (d)

              	
                any
                  and all records, hooks, documents, licenses, reports and data;
                  and

              

        	 	
                (e)

              	
                any
                  and all tangible depreciable property and assets, including pumping
                  units,
                  pumps,
                  buildings, lines, tanks, treaters, and all other equipment used
                  in the
                  production of hydrocarbon
                  substances at the Cole Creek
                  Unit.

              

      

       

      As
        part
        of the Assets to be conveyed to Ameriwest at Closing, Seller shall convey
        its
        Working Interest
        in and to all formations that are Below the Base of the Shannon Formation,
        which
        in most cases
        is
        35%, at
        the
        Net Revenue Interest that exists as of the Execution Date in all leases and
        wells. Seller shall also convey its interest in and to all depths and formations
        from the surface to the
        base
        of the Shannon Formation. These interests were purchased from Mon Oil Corp.
        at a
77%
        Net
        Revenue Interest and comprise a Working Interest of approximately 68.475%
        in and
        to the
        "Shannon" leasehold purchased from Mon Oil Corp. as described on Exhibit
        "B".

       

      “Assets”
        shall exclude, and Ameriwest shall not be purchasing or assuming, any
        liabilities of Seller
        whether related to the Assets or otherwise.

      

        
          	
                  1.2

                	
                  “Option
                    Fee” is defined as $400,000.00, payable in two $200,000.00 installment
                    payments. Failure to make any installment payment - timely and
                    in full -
                    shall automatically cause this Agreement to terminate. The Option
                    Fee and
                    all other payments for extended option fees shall not be nonrefundable.
                    The Option Fee and all other payments for extended option fees
                    shall not
                    be credited against the Purchase Price, if closing
                    occurs.

                

        

      

       

      “First
        Option Period” is defined as that period of time commencing at 5:00 p.m. MST on
Tuesday,
        April 15, 2008 and ending at 5:00 p.m. MST on Monday, June 16, 2008. The
        first
installment
        payment of the Option Fee shall be paid by Ameriwest to Seller by wire, cash
        or
        cash equivalent,
        or cashier's check on or before 5:00 p.m. MST on Tuesday, April 15,
        2008.

      

      
        	
                1.4

              	
                “Second
                  Option Period” is defined as that period of time commencing at 5:00 p.m.
                  MST on Monday, June 16, 2008 and ending at 5:00 p.m. MST on Monday,
                  August
                  18, 2008. The second installment payment of the Option Fee shall
                  be paid
                  by Ameriwest to Seller by wire, cash or cash equivalent, or cashier's
                  check on or before 5:00 p.m. MST on Monday, June 16,
                  2008.

              

      

       

      
        	
                1.5

              	
                “Option
                  Extension Period” is defined as that period of time commencing at 5:00
                  p.m. MST on Monday, August 18, 2008, ending at 5:00 p.m. MST on
                  Wednesday,
                  September 17, 2008. Ameriwest may elect to postpone closing until
                  5:00
                  p.m. MST on Wednesday, September 17, 2008, provided Ameriwest makes
                  a
                  third payment in the amount of $200,000.00 to Seller on or before
                  5:00
                  p.m. MST on Monday, August 18, 2008 by wire, cash or cash equivalent,
                  or
                  cashier's check. Once this payment has been made and the Option
                  Period has
                  been extended to 5:00 p.m. MST, Wednesday, September 17, there
                  shall be no
                  further extensions or option time and no change in any of the provisions
                  of this Agreement, except as the parties may otherwise agree in
                  writing.
                  In the event that Ameriwest establishes good cause for the need
                  of an
                  extension of the closing date or in the event of an occurrence
                  no fault of
                  Ameriwest, the parties will negotiate in good faith to reach agreement
                  that provides Ameriwest with additional time within which to close
                  the
                  transaction. Ameriwest and Seller agree that no damages of any
                  kind shall
                  be asserted if the option granted herein is not exercised, except
                  that all
                  of the Option Fees and other amounts paid hereunder shall be forfeited
                  by
                  Ameriwest and retained by
                  Seller.

              

      

    

    
      

      
        
          
            
            

          

          
            
            

            
              

            

          

          
            
            

          

        

      

      

      

        
          	
                  1.6

                	
                  "Closing”
                    is defined as Ameriwest's purchase of the Assets and payment
                    of the
                    Purchase Price which shall occur in a timely manner, and in no
                    event later
                    than 5:00 p.m. MST on Monday, August 18, 2008, unless otherwise
                    properly
                    extended pursuant to Section 1.5, and then, in no event later
                    than
                    September 17, 2008. Failure to pay the Purchase Price fully and
                    promptly
                    at Closing shall automatically cause this Agreement to terminate
                    and of no
                    further force and effect. On or before Closing, Seller shall
                    prepare such
                    assignments, transfers, sale documents and title documents as
                    may be
                    reasonably requested or required to convey the Assets. Such documents,
                    fully executed by Seller, shall be delivered to Ameriwest upon
                    payment of
                    the Purchase Price at Closing. Failure to pay the Purchase Price
                    at
                    Closing shall cause this Agreement to
                    terminate.

                

        

      

       

      

        
          	
                  1.7

                	
                  “Purchase
                    Price” is defined as the sum of $10,000,000.00 (USD) paid by wire, cash
                    or
                    cash equivalent, or cashier's check or such other method agreed
                    to by
                    Ameriwest and Sellers.

                

        

      

       

      Section
        2. Grant
        of Option- Assignment; Due Diligence- Termination.

      
        
          	
                  2.1.

                	
                  Subject
                    to the terms of this Agreement, Seller hereby grants to Ameriwest
                    during
                    the First Option Period and Second Option Period, and during
                    any Option
                    Extension Period, the sole and exclusive option to purchase the
                    Assets for
                    payment of the Purchase Price. Ameriwest may assign all of any
                    part of its
                    right, title and interest hereunder to a third party, or parties,
                    and will
                    provide Seller prior written notice of the name, address, telephone
                    number
                    and email address of each assignee.

                

        

        

        
          	
                  2.2

                	
                  Ameriwest
                    will conduct its due diligence and other requirements on every
                    matter
                    related to this purchase during the First Option Period and Second
                    Option
                    Period, and during any Option Extension Period. Seller represents
                    they are
                    not aware of any title defect associated with any of the assets
                    or
                    properties listed above and do not believe there are any environmental
                    defects with respect to the assets of the subject property (outside
                    of
                    those customarily associated with normal oilfield activities).
                    All of
                    these have been previously disclosed to Ameriwest and are represented
                    by
                    Seller to be nonmaterial and
                    minor.

                

        

      

       

      
        
          
            	2.3	
                    Ameriwest
                      may terminate this Agreement at any time, but must, except
                      in the event of
                      a breach by
                      Sellers, pay Sellers the second installment payment of the
                      Option Fee,
                      regardless of whether termination
                      occurs prior to 5:00 p.m. MST on Monday, June 16,
                      2008.

                  

          

        

      

       

      Section
        3. Exercise
        of Option.

      
        	3.1	
                If
                  Ameriwest elects to exercise its option to purchase the Assets,
                  Ameriwest
                  shall provide written notice
                  of its intent to Seller prior to the expiration of the Option Period
                  or
                  any Option Extension.

              

      

       

      Section
        4. Maintenance
        of Assets and Prohibition on Seller Transfers.

      
        	4.1	
                Seller
                  agrees, during the Option Period and until Closing: (a)
                  to maintain and preserve the Assets in
                  at least as good condition as exists as of the Execution Date;
                  (b) to
                  fully comply with all requirements and demands of regulatory agencies
                  pertaining to the Assets; (c) to promptly inform Ameriwest
                  of any regulatory action, notices or demands affecting the Assets;
                  (d) to
                  keep the Unit properly bonded; (e) to keep all leases affecting
                  any of the
                  Assets in good standing; and (f) not to transfer
                  any interest in any well, well bore, casing, lease, leasehold,
                  mineral
                  interest, royalty, contract,
                  or other agreement related to the Assets without the written approval
                  of
                  Ameriwest.

              

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      Section
        5. Condition
        of Title at Closing.

      
        
          
            	5.1	
                    At
                      Closing, Seller agrees: (a) to provide good and merchantable
                      title, free
                      and clear of any and all voluntary
                      or involuntary liens or encumbrances related to or affecting
                      the Assets;
                      (b) to provide a bill
                      of sale for the personal property associated with, or used
                      in the
                      production of, the Assets; and (c)
                      to provide recordable assignments for the leasehold and to
                      execute any
                      such documents deemed
                      necessary by Ameriwest to convey good and merchantable title
                      to Ameriwest
                      or its Assignee.

                  

          

        

      

       

      Section
        6. Miscellaneous.

      
        
          
            	6.1	
                    Seller
                      and Ameriwest agree to keep this Agreement confidential and
                      not disclose
                      the terms of this Agreement
                      to any third party, except to the extent necessary for Ameriwest
                      to comply
                      with any of its
                      disclose requirements.

                  

          

        

      

       

      
        	6.2	
                Seller
                  and Ameriwest have discussed the current re-development program
                  proposed
                  by Slawson
                  Exploration, operator of the formations below the Shannon. Ameriwest
                  is
                  fully aware of the new wells
                  proposed by Slawson which are planned to be drilled in the summer
                  of 2008.
                  Notwithstanding
                  anything to the contrary herein, until Closing, Seller reserves
                  the
                  absolute right to
                  negotiate, enter binding agreements and otherwise deal with these
                  proposed
                  wells and any other
                  matters related to any Slawson operations, and at Closing, Ameriwest
                  will
                  take the Assets subject
                  to agreements negotiated by Seller, if any. Ameriwest hereby agrees
                  to
                  ratify any farmout agreement negotiated by Seller. During the terms
                  of the
                  Option Period or any Option Extension, Seller
                  will disclose new agreements with Slawson to Ameriwest in a timely
                  manner
                  and will generally
                  inform Ameriwest in a timely manner of material developments pertaining
                  to
                  Slawson operations
                  or proposals.

              

      

       

      
        	6.3	
                Any
                  notices to be given hereunder shall be sent to the
                  following:

              

      

      

        
          	
                  Seller:
                    Thomas F. Stroock, President

                	
                  AND

                	
                  Jon
                    C. Nicolaysen, President

                
	 	 	 	 
	 	
                  
                    Alpha
                      Development Company

                  

                	
                  JK
                    Minerals, Inc.

                
	 	
                  P.
                    0. Box 2875

                	
                  P.
                    0. Box 3393

                
	 	
                  Casper,
                    WY 82602

                	
                  Casper,
                    WY 82602

                
	 	 	 	 
	
                  Ameriwest:

                	
                  Walter
                    R. Merschat, President

                  Ameriwest
                    Energy Corp.

                	 
	 	
                  123
                    West lst
                    Street,
                    Suite 215

                  Casper,
                    WY 82601

                	 

        

      

       

      
        	6.4	
                This
                  Agreement and its terms shall not be modified or terminated except
                  by a
                  written agreement duly
                  executed by the parties.

              

      

       

      
        	6.5	
                This
                  Agreement shall he governed by and construed under the laws of
                  the State
                  of Wyoming.

              

      

       

      
        	6.6	
                The
                  parties acknowledge that Jon C. Nicolaysen holds an ownership interest
                  related to the Assets and
                  hereby state that full disclosure of said interest has been made
                  to the
                  parties.

              

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      DATED
        AND
        EFFECTIVE ON THE DATE FIRST SHOWN ABOVE.

      

        
          	
                  ALPHA
                    DEVELOPMENT CORPORATION:

                	
                  AMERIWEST
                    ENERGY CORP.:

                
	 	 
	
                  By

                	  
	 	
                  By

                	  
	 
	
                   

                	
                  Thomas
                    F. Stroock, President

                	 	
                   

                	
                  Walter
                    R. Merschat, President/CEO

                
	 	 	 	 	 	 
	
                  By

                	  
	 	 	 	 
	
                   

                	
                  Karen
                    M. Sloan, Secretary

                	 	 	 	 
	 	 	 	 	 	 
	
                  JK
                    MINERALS, INC.

                	 
	 	 	 	 	 	 
	
                  By

                	  
	 	 	 	 
	 	
                  Jon.
                    C. Nicolaysen, PresidentWIRELESS
      TELECOM GROUP, INC.

    25
      Eastmans Road

    Parsippany,
      New Jersey 07054

    (973)
      386-9696 (phone)

    (973)
      386-9191 (fax)

    

              April
      11, 2008

    

    James
      M.
      Johnson 

    Wireless
      Telecom Group, Inc.

    25
      Eastmans Road

    Parsippany,
      New Jersey 07054

    

    Dear
      Mr.
      Johnson:

     

    We
      are
      pleased to offer certain benefits and payments in the event your employment
      with
      the Company (or any successor) is terminated prior to March 29, 2015 either
      (i)
      by the Company (or any successor), other than for Cause (as defined below);
      or
      (ii) by you, for Good Reason (as defined below). Each such termination is
      hereinafter referred to as a “Qualifying Termination.” 

    

    This
      letter agreement (this “Agreement”) confirms our mutual agreement and
      understanding with respect to the following:

    

    1. Severance.
      If the
      termination of your employment is a Qualifying Termination, you will be entitled
      to receive Severance (as defined below) and Continuation of Benefits (as defined
      below) for the Severance Period (as defined below) in lieu of any payments
      otherwise payable to you under the Company’s standard severance policy. You will
      not be entitled to such Severance or Continuation of Benefits if the Company
      terminates your employment for Cause, if you terminate your employment
      voluntarily without Good Reason, or if your employment is terminated due to
      death or permanent disability.

    

    2. Mitigation
      and Offset.
      If you
      engage in Subsequent Employment (as defined below) during the Severance Period
      and receive benefits from a subsequent employer during the Severance Period,
      your continuing benefits will be terminated (on a benefit by benefit basis).
      You
      agree to provide the Company with prompt written notice of any Subsequent
      Employment and benefits received by you during, or in respect of, the Severance
      Period.

    

    3. Definitions.

     

    For
      purposes of this Agreement, the following terms shall have the meanings set
      forth below:

    

    (i) “Cause”
      shall mean the occurrence of any one or more of the following: (i) fraud,
      embezzlement and /or misappropriation of the Company’s (or any successor’s)
      funds; (ii) gross or willful misconduct by you in the performance of your
      duties; (iii) a material violation of the Company’s (or any successor’s) Code of
      Conduct; or (iv) a conviction by, or entry or a plea of guilty or nolo contendre
      in, a court of competent jurisdiction for any crime which constitutes a felony
      or act or moral turpitude in the jurisdiction involved.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    (ii) “Continuation
      of Benefits” shall mean the continuation of all benefits (to the extent
      permissible under the terms and conditions of each applicable employee benefit
      program and applicable law) in which you then participate for the term of the
      Severance Period, provided that you continue to pay the Company the employee
      contributions you were paying immediately prior to your termination of
      employment.

    

    (iii) “Good
      Reason” shall mean (a) the assignment to you of duties materially and adversely
      inconsistent with your position, title, duties, responsibilities or status
      with
      the Company as an officer of the Company, (b) any removal of you from, or any
      failure to re-elect you as an officer of the Company, (c) a reduction in your
      salary, or (d) relocation of your principal place of employment to a place
      more
      than thirty (30) miles from its current location, in each case without your
      written consent.

    

    (iv) “Severance”
      shall mean (a) at the sole discretion of the Company, either (1) a lump sum
      cash
      severance payment in an amount equal to 75% of your annual base compensation
      then in effect, payable as soon as practicable by the Company, and in no event
      later than 30 days after termination of your employment or (2) the continuation
      of your base compensation then in effect for the term of the Severance
      Period.

    

    (iv) “Severance
      Period” shall mean the period commencing on the date of the Qualifying
      Termination and ending on the nine (9) month anniversary of the date of your
      Qualifying Termination.

    

    (v) “Subsequent
      Employment” shall mean any employment or provision of services whether as owner,
      principal, agent, partner, director, officer, independent contractor,
      consultant, or employee for any entity, corporation, partnership or individual,
      including, without limitation, self-employment.

    

    4. No
      Employment Rights.
      This
      Agreement sets forth the terms of certain financial assurances that will apply
      upon a Qualifying Termination and does not constitute, and should not be
      considered as, a contract of employment for any duration. Accordingly, this
      Agreement will not affect your ability or the ability of the Company (subject
      to
      the terms of any other agreement(s) that may exist) to terminate your services
      at any time and for any reason.

    

    5. Successors
      and Assigns.
      This
      Agreement shall inure to the benefit of and be binding upon the Company and
      its
      successors. This Agreement is fully assignable by the Company to its successors
      whether direct or indirect, by purchase, merger, consolidation or otherwise,
      to
      all or substantially all of its assets provided each such successor expressly
      assumes and agrees to perform the obligations set forth in this Agreement in
      the
      same manner and to the same extent that the Company would be required to perform
      it if no such succession had taken place.

    

    6. Effectiveness.
      This
      Agreement shall be effective as of April 11, 2008.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    7. Governing
      Law.
      This
      Agreement shall be governed by the laws of the State of New York, without regard
      to the conflicts of law provisions thereof.

    

    8. Entire
      Agreement.
      This
      Agreement constitutes the complete agreement and understanding between us
      relating to severance and the continuation of benefits following a Qualifying
      Termination and may not be modified or amended except in writing signed by
      the
      parties. Additionally, this Agreement is intended to supplement (and not
      supersede) any employment or other agreement relating to your compensation,
      your
      employment status or the termination of your employment that you may have with
      the Company, including, without limitation, any agreement relating to payment
      or
      amounts (other than Severance and Continuation of Benefits) upon termination
      of
      your employment.

    

    9. General
      Release.
      As a
      condition of receiving the Severance and Continuation of Benefits described
      herein, you will be required to sign a separation agreement and general release
      in a form acceptable to the Company. Such release shall, among other things,
      discharge the Company from any and all obligations to make any further payments
      to you, whether by way of salary, bonus or other compensation or remuneration
      of
      any kind.

    

    If
      you
      agree with the terms and provisions of this Agreement, please sign and date
      both
      copies of this Agreement in the place indicated. Keep one copy for your files
      and return the other copy to the Company.

    

    
      	
              Very
                truly yours,

            
	 
	
              WIRELESS
                TELECOM GROUP, INC.

            
	 
	
              By: 

            	
              /s/
                Paul Genova

            
	
              Name:
                Paul Genova

            
	
              Title:
                President and Chief Financial
                Officer

            

    

    

    ACCEPTED
      AND AGREED TO:

     

    
      	
              /s/
                James M. Johnson

            	 	
              April
                14, 2008

            
	
              James
                M. Johnson

            	 	
              Date

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00140-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00140-of-00352.parquet"}]]