Document:

exhibit4-1.htm

    

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

                

                    Exhibit
              4.1      
    

        

      

      
        

        

        

        

        

        

        

      

      
        ADVANCE
          DISPLAY TECHNOLOGIES, INC.

        

        

        

        

        

        _________________________________

        

        Series
          G Preferred Stock

        SUBSCRIPTION
          AGREEMENT

        _________________________________

        

        

        

        

        

        

        

        

        

        

        

        

        

        

        

        

        

        

        

        

      

      
        

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      ADVANCE
        DISPLAY TECHNOLOGIES, INC.

      

      Series
        G Preferred Stock

      SUBSCRIPTION
        AGREEMENT

      

      

      THIS
        SUBSCRIPTION AGREEMENT (this
“Agreement”) is executed and delivered, as of the date set forth on the
        signature page hereof (the “Subscription Date”), by and between Advance Display
        Technologies, Inc., a Colorado corporation (“Company”), and the undersigned
        subscriber (“Subscriber”).

      

      1.  Subscription.  Subject
        to the terms and conditions set forth in this Agreement, Subscriber hereby
        agrees to subscribe for the number of shares of Series G Preferred Stock
        of
        Company (the “Shares”) at the times and in the manner set forth in the
        Subscription Schedule on the signature page of this Agreement (the “Total
        Subscription”).

       

      2.  Price.  The
        purchase price for the Shares set forth on the signature page of this Agreement
        (the “Purchase Price”) has been derived from the fair market value of the shares
        of Company’s common stock into which the Shares are convertible.  For
        this purpose, the fair market value was calculated by reference to the closing
        price of the Company’s Common Stock on the OTC Bulletin Board on the last
        trading day preceding the Subscription Date.

       

      3.  Acceptance.  Company,
        in consideration of and in reliance on Subscriber’s representations, warranties,
        covenants in this Agreement, and Subscriber’s agreement to pay the Total
        Subscription Price set forth in the Subscription Schedule, hereby accepts
        the
        subscription of Subscriber and agrees to issue the Shares to Subscriber,
        subject
        to the terms and conditions of this Agreement.

       

      4.  Issuance
        of shares.  Company shall issue the Shares to Subscriber within
        ten (10) days of its receipt of payment in full for all of the Shares, provided,
        however, that Company shall have no obligation to issue any Shares to Subscriber
        unless and until Subscriber has made to Company, and Company has accepted,
        full
        payment of Subscriber’s Total Subscription.

       

      5.  Cancellation
        of Subscription by Company.  At any time prior to Company’s
        receipt and acceptance of full payment for the Total Subscription, Company
        may
        elect to terminate its obligations to deliver any of the Shares to Subscriber
        under this Agreement by returning to the Subscriber all prior payments made
        by
        the Subscriber toward the Total Subscription, together with interest at the
        prime rate as published by the Wall Street Journal from the date of Company’s
        receipt of such payments.  In such an event, Company will be relieved
        of any obligation to deliver the Shares and Subscriber shall have no further
        right or obligation to purchase the Shares.

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      6.  Partial
        Cancellation of Subscription by Company.  At any time prior to
        Company’s receipt and acceptance of full payment for the Total Subscription,
        Company may, in its sole discretion, elect to cancel any part of the Total
        Subscription, irrespective of whether Subscriber has previously paid some
        or all
        of the Total Subscription to Company by delivering to Subscriber a written
        notice of partial cancellation of the amount of the Subscription cancelled
        (the
“Cancelled Subscription”) and returning to the Subscriber all prior payments, if
        any, made by the Subscriber toward the Cancelled Subscription, together with
        interest at the prime rate as published by the Wall Street Journal from the
        date
        of Company’s receipt of such payments.  In such an event, Company
        shall be obligated to sell, and Subscriber shall be obligated to buy, the
        Shares
        attributable to the portion of the Total Subscription that was not cancelled
        (the “Accepted Shares”).  No later than ten (10) days after Company’s
        receipt of payment from Subscriber for the Accepted Shares, the Company will
        issue the Accepted Shares to Subscriber.  Upon such payment and
        delivery, the Company will be relieved of any obligation to deliver additional
        Shares to Subscriber and Subscriber will have no further right or obligation
        to
        purchase additional Shares under this Agreement.

       

      7.  Voting
        of the Shares.  Subscriber shall have no right to vote the Shares
        prior to payment and acceptance of the Total Subscription or the Accepted
        Subscription, as the case may be.

       

      8.  Restrictions
        on Transfer.

       

      8.1  The
        certificates representing the Shares will bear a legend in substantially
        the
        following form:

       

      THESE
        SECURITIES HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS
        AMENDED, OR ANY STATE SECURITIES LAWS.  THEY MAY NOT BE SOLD, OFFERED
        FOR SALE, PLEDGED OR HYPOTHECATED IN THE ABSENCE OF A REGISTRATION STATEMENT
        IN
        EFFECT WITH RESPECT TO THE SECURITIES UNDER SUCH ACT OR AN OPINION OF COUNSEL
        SATISFACTORY TO COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED.

      

      8.2  No
        holder
        of the Shares may sell, transfer or dispose of any Series G Preferred Stock
        (except pursuant to an effective registration statement under the Securities
        Act) without first delivering to Company an opinion of counsel (reasonably
        acceptable in form and substance to Company) that neither registration nor
        qualification under the Securities Act and applicable state securities laws
        is
        required in connection with such transfer.

       

      9.  Subscriber’s
        Representations, Warranties, Covenants and Agreements.  Subscriber
        hereby represents and warrants to, and covenants and agrees with, Company
        as
        follows:

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      10.  Subscriber
        has been given adequate access to all information about Company and Subscriber’s
        investment in Company that was material to Subscriber’s decision to invest
        therein.  Subscriber has reviewed the Certificate of Incorporation and
        bylaws of Company as well as its recent filing with the U.S. Securities and
        Exchange Commission.  Subscriber acknowledges that Subscriber is fully
        informed and knowledgeable about Company, its business (the “Business”),
        management and personnel; that Subscriber has had discussions with Company
        concerning the Business and has obtained information from Company; and that
        Company has answered all questions that the undersigned had concerning the
        Business.  Subscriber has been furnished materials relating to
        Company, the Business and the financial condition of Company and the offering
        of
        the Shares that Subscriber has requested and has been afforded the opportunity
        to ask questions and receive answers concerning an investment in
        Company.  Subscriber acknowledges that Subscriber has had the
        opportunity to request such additional information from the President of
        Company.

       

      10.1  Subscriber
        acknowledges that an investment in Company involves a substantial degree
        of risk
        and is suitable only for persons with adequate means who have no need for
        liquidity in their investments.

       

      10.2  Subscriber
        acknowledges that no market for the Shares exists nor is any such market
        expected to develop and that, therefore, Subscriber’s investment in Company will
        not be liquid.

       

      10.3  Subscriber
        has knowledge and experience in financial and business matters and is capable
        of
        evaluating the merits and risks of an investment in Company and the suitability
        of the investment for Subscriber.

       

      10.4  Subscriber
        is making this capital contribution for investment purposes only and has
        no
        present intention to sell or exchange the Shares; Subscriber has adequate
        means
        for providing for Subscriber’s current needs in any foreseeable contingency; and
        Subscriber has no need to sell the Shares in the foreseeable
        future.

       

      10.5  Subscriber,
        if a corporation, partnership, trust or other entity, is duly organized,
        and is
        authorized and otherwise duly qualified to purchase and hold the Shares,
        and
        such entity has its principal place of business at the address set forth
        on the
        signature page hereof.

       

      10.6  Subscriber
        has the legal capacity to execute, deliver and perform this Agreement, and
        has
        Subscriber’s residence at the address set forth on the signature page
        hereof.

       

      10.7  Subscriber
        is an “accredited investor” as that term is defined in Rule 501 of Regulation D
        promulgated under the Securities Act of 1933, as amended.

       

      10.8  All
        information that Subscriber has provided to Company concerning Subscriber,
        Subscriber’s financial position and knowledge of financial and business matters,
        or, in the case of a corporation, partnership, trust or other
        entity,

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      the
        knowledge of financial and business matters of the person making the investment
        decision on behalf of such entity, including all information contained herein,
        is true and complete as of the date set forth at the end hereof, and if there
        should be any adverse change in such information prior to this subscription
        being accepted, Subscriber will immediately provide Company with accurate
        and
        complete information concerning any such change.

       

      10.9  Subscriber
        acknowledges that no federal or state agency has made any finding or
        determination as to the fairness of this investment, nor any recommendation
        or
        endorsement, of the investment in the Shares.

       

      10.10  Subscriber
        acknowledges that the Series G Preferred Stock has not been registered under
        the
        Securities Act of 1933, as amended (the “Act”), or the blue sky laws of any
        state.

       

      10.11  Subscriber
        understands that Company has relied upon an exemption from registration provided
        in the Act and upon all of the foregoing representations and warranties of
        Subscriber.

       

      10.12  Subscriber
        certifies, under penalties of perjury, (i) that the social security or Federal
        taxpayer identification number shown on the signature page of this Agreement
        is
        true and complete and (ii) that Subscriber is not subject to backup withholding
        either because Subscriber has not been notified that he or she is subject
        to
        backup withholding as a result of a failure to report all interest or dividends,
        or the Internal Revenue Service has notified Subscriber that he or she is
        no
        longer subject to backup withholding.

       

      11.  Confidential
        Information.  Subscriber acknowledges that the information,
        observations and data obtained by him or her during the course of Subscriber’s
        ownership of any interest in Company concerning the business and affairs
        of
        Company are the property of Company, including information concerning
        acquisition opportunities in or reasonably related to the Business of which
        Subscriber becomes aware during such period.  Therefore, Subscriber
        agrees that he or she will not disclose to any unauthorized person or use
        for
        Subscriber’s own account any of such information, observations or data without
        the written consent of the President of Company unless and to the extent
        that
        the aforementioned matters become generally known to and available for use
        by
        the public other than as a result of Subscriber’s acts or
        omissions.  Subscriber agrees to deliver to Company on the date of
        disposition of the Shares, or at any other time Company may request in writing,
        all memoranda, notes, plans, records, reports and other documents (and copies
        thereof) relating to the Business (including, without limitation, all
        acquisition prospects, lists and contact information) which he or she may
        then
        possess or have under Subscriber’s control.

       

      12.  Indemnification.  Subscriber
        agrees to indemnify and hold harmless Company, its directors, officers,
        employees, stockholders and affiliates, and any person acting on behalf of
        Company, from and against any and all damage, loss, liability, cost and expense
        (including attorneys’ fees) which any of them may incur by

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      reason
        of
        the failure by Subscriber to fulfill any of the terms or conditions of this
        Agreement, or by reason of any breach of the representations and warranties
        made
        by Subscriber herein, or in any other document provided by Subscriber to
        Company.  All representations, warranties and covenants contained in
        this Agreement, and the indemnification contained in this paragraph, shall
        survive the acceptance of this subscription.

       

      13.  Headings.  The
        headings throughout this Agreement are for convenience of reference only,
        and
        shall in no way be deemed to define, limit, or add to the meaning of any
        of the
        provisions of this Agreement.

       

      14.  Counterparts.  This
        Agreement may be executed in counterparts, both of which when taken together
        shall be deemed one original.

       

      15.  No
        Waiver.  Notwithstanding any of the representations, warranties,
        acknowledg­ments or agreements made herein by Subscriber, Subscriber does
        not thereby or in any other manner waive any of the rights granted to him
        or her
        under federal or state securities laws.

       

      16.  Entire
        Agreement; Modification.  This Agreement constitutes the entire
        agreement among the parties hereto with respect to the subject matter hereof,
        and neither this Agreement nor any of the provisions hereof shall be waived,
        changed, discharged or terminated except by an instrument in writing signed
        by
        the party against whom any waiver, change, discharge or termination is
        sought.

       

      17.  Notice.  Notices
        required or permitted to be given under this Agreement shall be in writing
        and
        shall be deemed to be sufficiently given when sent by registered or certified
        mail, postage prepaid, addressed to the other party at the address of such
        party
        set forth on the signature page to this agreement, or to such other address
        furnished by notice given in accordance with this paragraph.

       

      18.  Successors;
        Binding Effect.  Except as otherwise provided herein, this
        Agreement shall be irrevocable and binding upon and inure to the benefit
        of the
        parties hereto and their respective heirs, executors, administrators,
        successors, legal representatives and assigns.  If Subscriber is more
        than one person, the obligations of Subscriber shall be joint and several
        and
        the agreements, representations, warranties and acknowledgments herein contained
        shall be deemed to be made by and be binding upon each such person and the
        person’s respective heirs, executors, administrators, successors, legal
        representatives and assigns.

       

      19.  Assignability.  Subscriber
        agrees not to transfer or assign this Agreement, or any of Subscriber’s interest
        herein, without the written consent of Company, which consent may be withheld
        in
        its sole discretion, and any such transfer or assignment in violation of
        this
        Agreement shall be null and void
ab initio.  Further, Subscriber agrees that the
        transfer or assignment of the Shares shall be made only in accordance with
        this
        Agreement, Company’s Certificate of Incorporation and applicable
        laws.

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      20.  Applicable
        Law.  This Agreement and all rights and remedies hereunder shall
        be governed by and construed in accordance with the laws of the State of
        Colorado, without regard to the conflicts of laws thereof.

       

      

      

      

      

      [remainder
        of page intentionally left blank]

      IN
        WITNESS WHEREOF, the undersigned Subscriber does represent and certify under
        penalty of perjury that the foregoing statements are true and correct and
        that
        Subscriber has, by the following signature, executed this Agreement as of
        November 13, 2007.

      

      SUBSCRIBER:

      

      Lawrence
        F. DeGeorge

      
        	
                 

                By:  /s/
                  Lawrence F. DeGeorge

                Name: Lawrence
                  F. DeGeorge

                 

                 

              	
                Address
                  for Notices:

                  

                  

                 

                 

              
	
                Taxpayer
                  Identification or Social Security Number of Subscriber:

                  

              	
                Telephone:

                  

              

      

      

      Subscription
        Schedule

       

      
        	
                Number
                  of Shares subscribed for

              	
                Price
                  per share

              	
                Total
                  Subscription Price

              
	
                13,475

              	
                $90

              	
                $1,212,750

              

      

      

      
        	
                 

              	
                Payments
                  of the Total Subscription Price shall be made by Subscriber in
                  the amounts
                  requested by Company not less than ten (10) business days after
                  Subscriber’s receipt from Company of a written demand for
                  payment.  No such demand shall be for an amount greater than
                  $100,000 without Subscriber’s consent.  No demand may be made
                  during the ten (10) business days after a prior demand was
                  made.  The Company may request amounts larger than $100,000 or
                  upon less than ten (10) business days notice but Subscriber shall
                  have no
                  obligation to honor any such
                  requests.

              

      

      

      

      Subscription
        Date:

      November
        13, 2007.

      

      ADVANCE
        DISPLAY TECHNOLOGIES, INC.

      7334
        South Alton Way, Suite F

      Centennial,
        CO  80112

      (303)
        267-0111

      

      By:  /s/
        Matthew W. Shankle

      Matthew
        W. Shankle, PresidentUnassociated Document

    
      

    
EXHIBIT
    10.1

    SUBSCRIPTION
      AGREEMENT

     

    This
      Subscription
      Agreement (this “Agreement”)
      is made as of
      September 26, 2007 by and between HALLADOR PETROLEUM COMPANY, a Colorado
      corporation (the “Corporation”)
      and CORTLANDT S.
      DIETLER, an individual (“Subscriber”).

     

    1.  Subscription.

     

    (a)  Subscriber
      hereby
      subscribes for 16,129 shares (the “Shares”)
      of the
      Corporation’s common stock, par value $0.01 per share (the “Common
      Stock”),
      at a
      subscription price of $3.10 per share (the “Per
      Share
      Subscription Price”),
      for a total
      subscription price of $49,999.90 (the “Total
      Subscription Price”).

     

    (b)  The
      closing of the
      sale and purchase of the Shares (the “Closing”)
      will take place
      in the offices of Morgan, Lewis & Bockius LLP, 300 S. Grand Avenue, Suite
      2200, Los Angeles, California 90071 at 9:00 a.m. local time on October 5,
      2007, or such later date and time as the Corporation and Subscriber agree (the
      “Closing
      Date”).
      At the Closing,
      (i) the Corporation will deliver to Subscriber a copy of this Agreement
      countersigned by the Corporation, and (ii) Subscriber will pay the Total
      Subscription Price to the Corporation by wire transfer of immediately available
      funds to an account designated by the Corporation to Subscriber in writing.
      Subject to the Closing, the Corporation shall cause its transfer agent to issue
      a certificate representing the Shares in the name of Subscriber and to deliver
      such certificate to Subscriber at the address set forth on the signature page
      hereto, within five (5) business days after the date on which the Closing
      occurs. 

     

    2.  Acknowledgments.
      Subscriber hereby
      acknowledges that Subscriber, either alone or together with Subscriber’s
      advisors (if any), has read, understands and agrees with and to the
      following:

     

    (a)  AN
      INVESTMENT IN
      THE SHARES INVOLVES A HIGH DEGREE OF RISK; THE CORPORATION MAY NEED ADDITIONAL
      CAPITAL IN THE FUTURE TO REACH ITS GROWTH OBJECTIVES OR MEET ITS EXPENSES AND
      THE SHARES MAY LOSE ANY VALUE OR MAY NOT GAIN ANY VALUE; THE SHARES ARE NOT
      REGISTERED AND MAY NOT BE SOLD EXCEPT IN COMPLIANCE WITH STATE AND FEDERAL
      SECURITIES LAWS AND REGULATIONS.

     

    (b)  Subscriber
      acknowledges and agrees that the Corporation may at any time sell shares of
      its
      capital stock at a price greater or less than the Per Share Subscription Price
      pursuant to this Agreement. Subscriber acknowledges and agrees that the Shares
      may ultimately prove to be worth significantly more or significantly less than
      Subscriber perceives them to be worth now, and that no representation or
      warranty is made by the Corporation as to the “fair value” of the Shares or the
      interest in the Corporation that they represent, either now or in the
      future.

     

    (c)  The
      Shares have not
      been registered under the Securities Act of 1933, as amended (the “Securities
      Act”),
      or any state
      securities laws by reason of specific exemptions under the provisions thereof
      which depend in part upon the representations made by Subscriber in this
      Agreement. The Corporation is relying upon Subscriber’s representations
      contained in this Agreement for the purpose of determining whether this
      transaction meets the requirements for such exemptions.

     

    (d)  The
      Shares are
“restricted securities” under applicable federal securities laws and the
      Securities Act and the rules of the Securities and Exchange Commission provide,
      in substance, that Subscriber may only dispose of the Shares pursuant to an
      effective registration statement under the Securities Act or an exemption from
      such registration if available. The Corporation has no obligation or intention
      to register any of the Shares under, or to take action so as to permit sales
      pursuant to, the Securities Act. Accordingly, Subscriber may dispose of the
      Shares only in certain transactions that are exempt from registration under
      the
      Securities Act, including “private placements,” in which event the transferee
      will acquire “restricted securities” subject to the same limitations as in the
      hands of Subscriber. Additionally, applicable state securities laws may allow
      sales of the Shares only if the Shares are registered or the transaction is
      subject to an applicable exemption. As a consequence, Subscriber must bear
      the
      economic risks of an investment in the Shares for an indefinite period of
      time.

     

    (e)  The
      certificate(s)
      evidencing the Shares will bear the following legend, which shall be in addition
      to any other legends required by law or contract:

     

    THE
      SHARES
      REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES
      ACT OF 1933 OR ANY STATE SECURITIES LAWS AND MAY NOT BE SOLD OR TRANSFERRED
      IN
      THE ABSENCE OF SUCH REGISTRATION OR AN EXEMPTION THEREFROM UNDER THE SECURITIES
      ACT OF 1933 AND APPLICABLE STATE SECURITIES LAWS.

     

    (f)  Neither
      the
      Corporation nor any person acting on its behalf has offered or sold the Shares
      to Subscriber by any form of general solicitation, general or public media
      advertising or mass mailing.

     

    3.  Representations
      and Warranties.
      Subscriber hereby
      represents and warrants to the Corporation as follows:

     

    (a)  Subscriber
      has all
      necessary power and authority under all applicable provisions of law to execute
      and deliver this Agreement and to carry out its provisions. All action on
      Subscriber’s part required for the lawful execution and delivery of this
      Agreement has been taken. Upon the execution and delivery of this Agreement,
      this Agreement will be a valid and binding obligation of Subscriber, enforceable
      in accordance with its terms, except as limited by (a) applicable
      bankruptcy, insolvency, reorganization, moratorium or other laws of general
      application affecting enforcement of creditors’ rights, and (b) general
      principles of equity that restrict the availability of equitable remedies.
      

     

    (b)  Subscriber
      has such
      knowledge, skill and experience in investment financial and business matters
      that Subscriber is capable of evaluating the merits and risks of the purchase
      of
      the Shares and of protecting Subscriber’s interests in connection therewith.
      Subscriber is able to fend for himself in connection with the transactions
      contemplated by this Agreement and has the ability to bear the economic risk
      of
      the investment, including complete loss of the investment. Subscriber
      understands that no federal or state agency has passed upon the Shares or made
      any finding or determination concerning the fairness or advisability of this
      investment. To the extent that Subscriber has deemed it appropriate to do so,
      Subscriber has retained, and relied upon, appropriate professional advice
      regarding the tax, legal and financial merits and consequences of an investment
      in the Shares.

     

    (c)  Subscriber,
      either
      alone or together with Subscriber’s advisors (if any), has made such independent
      investigation of the Corporation, its management and related matters as
      Subscriber deems to be, or such advisors (if any) have advised to be, necessary
      or advisable in connection with an investment in the Shares. Subscriber and
      Subscriber’s advisors (if any) have received all information and data that
      Subscriber and such advisors (if any) believe to be necessary in order to reach
      an informed decision as to the advisability of an investment in the
      Shares.

     

    (d)  Subscriber,
      either
      alone or together with Subscriber’s advisors (if any), has reviewed Subscriber’s
      financial condition and commitments and, based on such review, Subscriber is
      satisfied that (i) Subscriber has adequate means of providing for
      Subscriber’s financial needs and possible contingencies and has assets or
      sources of income which, taken together, are more than sufficient so that
      Subscriber could bear the risk of loss of Subscriber’s entire investment in the
      Shares, (ii) Subscriber has no present or contemplated future need to
      dispose of all or any portion of the Shares to satisfy any existing or
      contemplated undertaking, need or indebtedness, and (iii) Subscriber is
      capable of bearing the economic risk of an investment in the Shares for the
      indefinite future.

     

    (e)  Subscriber
      is
      acquiring the Shares for Subscriber’s own account, for investment only and not
      with a view to or in connection with any resale or distribution of the Shares,
      and Subscriber has no present intention of making any sale, assignment, pledge,
      gift, transfer or other disposition of the Shares or any interest therein.
      Subscriber understands that the Shares have not been registered under the
      Securities Act or any state securities laws by reason of specific exemptions
      which depend upon, among other things, the bona fide nature of the investment
      intent and the accuracy of Subscriber’s representations as expressed
      herein.

     

    (f)  Subscriber
      understands that any public market for any of the securities issued by the
      Corporation is limited and that there is no assurance that an active public
      market will ever exist for such securities. 

     

    (g)  Subscriber
      is an
“Accredited Investor” within the meaning of Rule 501 promulgated under the
      Securities Act, and has completed or will complete and deliver an Accredited
      Investor Questionnaire to the Corporation on or before the Closing
      Date.

     

    (h)  Subscriber
      is an
      individual and the office or offices of Subscriber in which his investment
      decision was made is located at the address or addresses of Subscriber set
      forth
      on the signature page hereof.

     

    4.  Covenant.
      Subscriber hereby
      agrees to furnish any additional information requested by the Corporation to
      assure compliance of this transaction with applicable federal and state
      securities laws, and to make any filings with the Securities and Exchange
      Commission as may be required of Subscriber pursuant to the Securities Exchange
      Act of 1934, as amended, and the rules promulgated thereunder. 

     

    5.  General
      Provisions.

     

    (a)  Governing
      Law;
      Jurisdiction.
      This Agreement
      shall be governed, construed and interpreted in accordance with the laws of
      the
      State of Colorado, without giving effect to principles of conflicts of law
      and
      choice of law that would cause the laws of any other jurisdiction to apply.
      

     

    (b)  Successors
      and
      Assigns.
      This Agreement
      may not be assigned, conveyed or transferred without the prior written consent
      of the Corporation. Subject to the foregoing, the rights and obligations of
      the
      Corporation and Subscriber under this Agreement shall be binding upon and
      benefit their respective permitted successors, assigns, heirs, administrators
      and transferees. The terms and provisions of this Agreement are for the sole
      benefit of the parties hereto and their respective permitted successors and
      assigns, and are not intended to confer any third-party benefit on any other
      person.

     

    (c)  Entire
      Agreement.
      This Agreement
      constitutes the full and entire understanding and agreement between the parties
      with regard to the subjects hereof and no party shall be liable or bound to
      any
      other in any manner by any representations, warranties, covenants and agreements
      except as specifically set forth herein.

     

    (d)  Severability.
      In case any
      provision of the Agreement shall be invalid, illegal or unenforceable, the
      validity, legality and enforceability of the remaining provisions shall not
      in
      any way be affected or impaired thereby.

     

    (e)  Amendment
      or
      Waiver.
      This Agreement
      may not be amended, and no term or provision of this Agreement may be waived,
      except upon the written consent of the Corporation and Subscriber.

     

    (f)  Expenses.
      Each party shall
      pay all costs and expenses that it incurs with respect to the negotiation,
      execution, delivery and performance of the Agreement.

     

    (g)  Titles
      and
      Subtitles.
      The titles of the
      sections and subsections of the Agreement are for convenience of reference
      only
      and shall not be considered in construing this Agreement.

     

    (h)  Counterparts.
      This Agreement
      may be executed in any number of counterparts and by facsimile, each of which
      shall be an original, but all of which together shall constitute one instrument.
      If executed by facsimile, the parties shall subsequently exchange original
      signed copies by mail or courier service.

     

    [SIGNATURES
      ON
      FOLLOWING PAGE]

    

     

    
      
        
          1-LA/953496.3 

        

         

      

      
         

        
          

        

      

      
         

        
          

        

      

    

    IN
      WITNESS WHEREOF, the undersigned has caused this Subscription Agreement to
      be
      executed as of the date first written above.

     

    SUBSCRIBER:

     

    

     

    By:  /s/
      Cortlandt S.
      Dietler  

     

    Name: Cortlandt
      S.
      Dietler

     

    CORPORATION:

     

    

     

    HALLADOR
      PETROLEUM
      COMPANY

     

    

     

    

     

    By:  /s/
      Victor P.
      Stabio   

     

    Name:  Victor
      P.
      Stabio   

     

    Title:  Chief
      Executive
      Officer and President

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00132-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00132-of-00352.parquet"}]]