Document:

Filed by Automated Filing Services Inc. (604) 609-0244 - Avalon Energy Corporation - Exhibit 10.3

AGREEMENT

BY AND BETWEEN THE PARTIES: Avalon Gold Corporation, a
Nevada Corporation with offices at Suite 806 – 1288 Alberni St. , Vancouver,
British Columbia, Canada, V6E 4N5, being represented by Robert Waters,
President, hereinafter “Avalon”.

AND

Tom Bergman, who has an office located at Suite 12 - 1060 South
Main St., Brigham City, Utah, 84302.

RECITALS:

Avalon Gold Corporation is a Public Company, which is fully
trading on the Nasdaq OTC Bulletin Board in the United States of America Public
Markets (Symbol : AVGC) and is desirous of acquiring an asset to work with and
increase in value for the benefit of its shareholders. Tom Bergman is the owner
of a mineral asset in the form of certain State of Nevada Mining Claims (claims)
known as Lode Mining Claims LSA1, LSA2, LSA3, LSA4, LSA5, LSA6, LSA7, (140Acres)
located in Lander County, Nevada, in sections 14 and 23, Township 31N, Range
43E, in the Mt. Diablo meridian.

Tom Bergman will transfer a ninety-percent (90%) ownership in
the claims, retaining a non-assessable, carried ten-percent (10%), and Avalon
agrees to acquire and take full responsibility for the claims for the purpose of
increasing the claims value.

UNDER THE TERMS AND CONDITIONS AS FOLLOWS:

	 	(1) 	
      Avalon, upon signing this agreement, will pay the sum of
      $1,000.00 USD to Tom Bergman and will issue 1,000,000 Avalon shares to Tom
      Bergman and/or his nominees; which stock will be classified as being under
      rule 144 of the Securities and Exchange Commission for a period of one
      year, with trading restrictions under rule 144 for another year.

	 	 	 
	 	(2) 	
      Avalon will, in addition to the treasury stock being
      transferred to Tom Bergman and/or his nominees upon signing this
      agreement, agree to a further payment of $5,000.00 USD in cash or stock
      equivalent of Avalon shares to Tom Bergman, ninety (90) days from the date
      of this agreement.

	 	 	 
	 	(3) 	
      Avalon will subsequently agree to further payments of
      $2,000.00 USD in cash or stock equivalent of Avalon shares to Tom Bergman,
      payable on the 31st of every month for ten (10)
  months.

	 	 	 
	 	(4) 	
      Tom Bergman will have the option to choose either cash or
      stock in all payments due to him and/or his
nominees.

	 	(5) 	
      The ten-percent (10%) retained interest of Tom Bergman in
      the claims is non- assessable, meaning that Avalon cannot make a funds
      call to Tom Bergman and /or his nominees for any reason whatsoever and
      cannot for any reason reduce the ten-percent (10%) retained interest. In
      the event of Avalon selling their interest in the claims, Tom Bergman
      would continue to have a ten-percent (10%) non- assessable interest
      ownership under the same terms and conditions of this agreement, unless
      Tom Bergman agrees to sell his interest to the purchaser of Avalon’s
      interest. In any event Avalon has a first right of refusal to purchase the
      retained interest of Tom Bergman , should Tom Bergman decide to sell his
      interest. In addition, and in the event that Avalon for any reason decides
      to sell their interest in the claims within thirteen (13) months from the
      date of signing this agreement, it will be entirely Avalon’s
    decision.

	 	 	 
		(6) 	
      Tom Bergman will prepare and submit all required
      paperwork for yearly mining claim Assessment Work, State of Nevada fees
      for each claim, State of Nevada Mining Permits, State of Nevada
      exploration permits, State of Nevada Reclamation programs, and yearly
      reportable mining tax forms, etc., and any other paperwork that may be
      required by the Local, State or Federal governments. Avalon will pay the
      actual fees as required by a check made out to the proper government
      office to be submitted with the paperwork prepared by Tom Bergman. Fees
      for the years 2003/2004 become due September 1 and the necessary amounts
      will be provided to Avalon by Tom Bergman

	 	 	 
		(7) 	
      The State of Nevada requires that work must be performed
      on the claims each year before the 1st of September and
      recorded at the mining office. Avalon will be responsible to insure that
      this assessment work is accomplished. Tom Bergman will assist Avalon, but
      the ultimate responsibility will be with Avalon. Mining Claim assessment
      work basically consists of performing a minimum of $100.00 worth of work
      per claim, per year before 1st day of September. Assessment work can be
      Labor, Equipment time, sampling, basically anything that improves the
      claims. Tom Bergman must notify Avalon of requirements on a timely
      basis.

	 	 	 
	 	(8) 	
      In the event that Avalon does not perform the required
      assessment work on the claims by or before August 1st of any
      year, Tom Bergman reserves the right to perform that work under Nevada
      State Law. Further, if Avalon does not pay the required fees by the State
      of Nevada on or before October 20th of any year, Tom Bergman
      reserves the right to pay the fees under Nevada State Law.

	 	 	 
	 	(9) 	
      Avalon agrees to conduct itself concerning the claims in
      a manner so as to not cause the claims to suffer any undue legal or other
      undesirable problems.

	 	 	 
	 	(10)	
      Avalon agrees to expand the claims boundaries and to make
      any new claims a part of this agreement, as might be necessary, to protect
      the rights of Tom Bergman and the Avalon
shareholders.

 

	 	(11)	
      The parties both Avalon
        and Tom Bergman agree that time is of the essence in all particulars
        of this agreement. 

			
             
      

	 	(12)	
      The parties both
        Avalon and Tom Bergman agree that this agreement can be expanded by mutual
        consent upon the terms and conditions herein. 

			
       

	 	(13)	
      The parties agree
        that this agreement constitutes the entirety of the agreement between
        the parties and any other agreements either verbal or written are of no
        consequence concerning this agreement other than some particular consultants
        / finders fees which apply and are understood by the principal parties.
      

Signed and Agreed to this 26th day of January 2004 by the
parties,

	/s/ Robert Waters
    	 	/s/
      Tom Berman 
	Avalon Gold Corporation 	 	Tom Bergman 

By its: PresidentFiled by Automated Filing Services Inc. (604) 609-0244 - Avalon Energy Corporation - Exhibit 10.5

ADDENDUM TO THE AGREEMENT

THIS ADDENDUM is dated for reference December 10, 2004:

BY AND BETWEEN THE PARTIES:

	Avalon Gold Corporation (A Nevada Corporation)
  
	Suite 806 – 1288 Alberni St. 	  
	Vancouver, British Columbia 	  
	V6E 4N5 	SELLER OF THE FIRST PART 
	  	  
	  	  
	AND 	  
	  	  
	  	  
	Golden Spirit Mining Ltd. (A Delaware
      Corporation) 
	Suite 806 – 1288 Alberni St. 	  
	Vancouver, British Columbia 	  
	V6E 4N5 	PURCHASER OF THE SECOND PART

FURTHER TO THE ORIGINAL AGREEMENT DATED FOR REFERENCE
10TH DAY OF NOVEMBER, 2004:

The following clauses are amended to read as
follows:

	1 	
      GRANT

	 	 
	1.1 	
      “ In consideration of the Purchaser allotting, issuing
      and delivering to the Seller ....... $750,000 on or before December 10, 2004 “
      shall be replaced with December 24, 2004.

	4 	
      THE PARTICIPATION AGREEMENT

	 	 
	4.1 	
      “ In the event that the Purchaser exercises the right to
      purchase granted hereunder and pays the Purchase Price to the Seller on or
      before December 10, 2004 ....” shall be replaced with December 24, 2004
      .......

ADDITIONAL CONSIDERATION

Further, in consideration of extending the due dates to
Decemmber 24, 2004, the Purchaser will allot, issue and deliver to the Seller on
execution of this addendum 1,000,000 non-refundable restricted 144 shares in the
capital stock of the Purchaser within 2 business days. 

IN WITNESS WHEREOF the parties hereto have hereunto executed
these presents as of the day and year first above written.

AVALON GOLD CORPORATION

 

Per:
____________________________
       
Authorized Signatory

 

 

GOLDEN SPIRIT MINING LTD.

 

Per:
____________________________
       
Authorized SignatoryFiled by Automated Filing Services Inc. (604) 609-0244 - Avalon Energy Corporation - Exhibit 10.7

CONTRACT FOR INVESTMENT BANKING SERVICES

          THIS
CONTRACT FOR INVESTMENT BANKING SERVICES AGREEMENT ("Agreement") is made and
entered into on this 15th day of May 2005, by and between Avalon Energy
Corporation., a Nevada Corporation ("Client") and Palisades Financial Ltd., a
British Columbia Corporation ("Contractor").

RECITALS

          A.      Client
is in the business of finding and exploring and developing oil and gas leases of
merit.

          B.      Client
and Contractor desire to enter into a relationship whereby Contractor will
provide access to investors and funding for the exploration and development of
these properties, with particular emphasis on the Uinta Basin Project in Utah,
U.S.A.

ARTICLE I 
TERM OF CONTRACT

          1.1      Term
of Contract. The term of this Agreement shall be two years from the
date set forth above, unless terminated earlier.

ARTICLE II
SERVICES TO BE PERFORMED BY
CONTRACTOR

          2.1.      Specific
Services. Contractor agrees to use his or her best efforts to provide
essential information and solicit contacts with individuals and/or companies
interested in providing financial services to the Client. 

          2.2.      Methods
of Performing Services. Contractor shall determine the method, details,
and means of performing the services described in Section 2.1 of this
Agreement.

          2.3      Status
of Contractor. Contractor is not an employee of Client for any purpose
whatsoever, but is an independent contractor. Client is interested only in the
results obtained by Contractor, who shall have the sole control of the manner
and means of performing under this Agreement. Client shall not have the right to
require Contractor to do anything, which would jeopardize the relationship of
independent contractor between Contractor and Client. All expenses and
disbursements, including, but not limited to, those for travel and maintenance,
entertainment, office, clerical, and general expenses, that may be incurred by
Contractor in connection with this Agreement shall be borne wholly and
completely by Contractor, and Client shall not be responsible or liable
therefore. Contractor does not have, nor shall it hold itself out as having, any
right, power or authority to create any contract or obligation, either express
or implied, on behalf of, in the name of, or obligating Client, or to pledge
Client's credit, or to extend credit in Client's name unless Client shall
consent thereto in advance in writing. Client 

Page 1 of 8

shall have the right to appoint or otherwise designate suitable
representatives (herein collectively referred to as "Contractor's
Representatives"). Contractor shall be solely responsible for Contractor's
representatives and their acts. Contractor's Representatives shall be at
Contractor's own risk, expense, and supervision, and Contractor's
Representatives shall not have any claim against Client for salaries,
commissions, items of cost, or other form of compensation or reimbursement, and
Contractor represents, warrants, and covenants that Contractor's Representatives
shall be subordinate to Contractor and subject to each and all of the terms,
provisions and conditions applying to Contractor hereunder. Contractor agrees he
or she is not entitled to the rights or benefits afforded to Client's employees,
including disability or unemployment insurance, workers' compensation, medical
insurance, sick leave, or any other employment benefit. Contractor is
responsible for providing; at his or her own expense, disability, unemployment,
and other insurance, workers' compensation, training, permits and licenses for
himself or herself and for his or her employees and subcontractors.

          2.4      Payment
of Income Taxes. Contractor is responsible for paying when due all
income taxes, including estimated taxes, incurred as a result of the
compensation paid by Client to Contractor for services under this Agreement. On
request, Contractor will provide Client with proof of timely payment. Contractor
agrees to indemnify Client for any claims, costs, losses, fees, penalties,
interest, or damages suffered by Client resulting from Contractor's failure to
comply with this provision.

          2.5      Use
of Employees or Subcontractors. Contractor may, at Contractor's own
expense, use any employees or subcontractors as Contractor deems necessary to
perform the services required of Contractor by this Agreement. Client may not
control, direct or supervise Contractor's employees or subcontractors in the
performance of those services.

ARTICLE III 
COMPENSATION

          3.1     
Compensation. Four hundred thousand (400,000) shares of the Client’s US
$0.001 par value common stock with Rule 144 restrictions. 

          3.2      Payment
of Expenses. Contractor will be responsible for all expenses incurred
in performing services under this Agreement.

ARTICLE IV
OBLIGATIONS OF CONTRACTOR

          4.1      Minimum
Amount of Service. Contractor agrees to devote a minimum of one hundred
(100) hours per month to performing the above-described services.

Page 2 of 8

          4.2     
Non-Exclusive Relationship. Contractor may represent, perform services
for, and contract with as many additional clients, persons, or companies as
Contractor, in his or her sole discretion, sees fit.

          4.3      Time
and Place of Performing Work. Contractor may perform the services under
this agreement at any suitable time and location he or she chooses.

          4.4      Web
Site Information. Client will supply to Contractor, without cost, from
time to time, reasonable quantities of information and literature on the Web
Site and related activities, which Agent, in its sole discretion, determines
would be helpful to Contractor to perform the services under this Agreement.

          4.5     
Workers' Compensation. Contractor agrees to provide workers'
compensation insurance for Contractor's employees and agents and agrees to hold
harmless and indemnify Client for any and all claims arising out of any injury,
disability or death of any Contractor's employees or agents.

          4.6      Contractor's
Qualifications. Contractor represents that he or she has the
qualifications and skills necessary to perform the services under this Agreement
in a competent, professional manner, without the advice or direction of Client.
This means Contractor is able to fulfill the requirements of this Agreement.
Failure to perform all the services required under this Agreement constitutes a
material breach of the Agreement. Contractor has complete and sole discretion
for the manner in which the work under this Agreement will be performed.

ARTICLE V 
OBLIGATIONS OF CLIENT

          5.1     
Cooperation of Client. Client agrees to comply with all reasonable
requests of Contractor and provide access to all documents reasonably necessary
to the performance of Contractor's duties under this Agreement.

          5.2      Place
of Work. Contractor agrees that Client is not responsible for
furnishing space on Client's premises for use by Contractor while performing the
services under this Agreement.

ARTICLE VI
TERMINATION OF AGREEMENT

          6.1     
Expiration of Agreement. Unless otherwise terminated as provided in
this Agreement, this Agreement will continue in effect for a period of two years
and shall then terminate unless renewed in writing by both parties.

          6.2      Termination
on Notice. Notwithstanding any other provision of this Agreement,
either party may terminate this Agreement at any time by giving thirty (30) days
written notice to 

Page 3 of 8

the other party. Unless otherwise terminated as provided in
this Agreement, this Agreement will continue in force for a period of thirty
months (30) months.

          6.3     
Termination on Occurrence of Stated Events. This Agreement will
terminate automatically on the occurrence of any of the following events:

(a)      Bankruptcy or insolvency of
either party;

(b)      Sale of the business of
either party;

(c)      Death of Contractor;
and/or

(d)      Assignment of this
Agreement by either party without the consent of the other party.

          6.4     
Termination for Default. If either party defaults in the performance of
this Agreement or materially breaches any of its provisions, the non-breaching
party may terminate this Agreement by giving at least thirty (30) days written
notification to the breaching party. Termination will take effect immediately on
receipt of notice by the breaching party or five (5) days after mailing notice,
whichever occurs first. For the purposes of this Section 6.4, material breach of
this Agreement includes, but is not limited to, the following:

(a)      Client's failure to pay
Contractor any compensation due within forty-five (45) days after written demand
for payment.

(b)      Contractor's failure to
complete the services specified in Section 2.1 of this Agreement.

(c)      Contractor's material
breach of any warranty, representation or agreement contained in this
Agreement.

ARTICLE VII
NON-DISCLOSURE OF PROPRIETARY
INFORMATION; NON-COMPETITION AND NON-CIRCUMVENTION

          7.1     
New Developments. Contractor agrees that all designs, plans, reports,
specifications, drawings, inventions, processes, and other information or items
produced by Contractor while performing services under this Agreement will be
assigned to Client as the sole and exclusive property of Client and Client's
assigns, nominees and successors, as will any copyrights, patents or trademarks
obtained by Contractor while performing services under this Agreement. On
request and at Client's expense, Contractor agrees to help Client obtain patents
and copyrights for any new developments. This includes providing data, plans,
specifications, descriptions, documentation , and other information, as well as
assisting Client in completing any required application or registration.

Page 4 of 8

          7.2      Non-Disclosure
of Proprietary and Confidential Information By Contractor.

In consideration and recognition of the fact that during the
term of this Agreement, Contractor may have access to Proprietary Information
(as used in this Article VII "Proprietary Information" shall mean and include,
without limitation, any and all marketing and sales data, plans and strategies,
financial projections, Client lists, prospective Client lists, promotional
ideas, data concerning Client’s services, designs, methods, inventions,
improvements, discoveries, designs whether or not patentable, "know-how",
training and sales techniques, and any other information of a similar nature
disclosed to Contractor or otherwise made known to Contractor as a consequence
of or through this Agreement during the term hereof. The term Proprietary
Information shall not include any information that (i) at the time of the
disclosure or thereafter is or becomes generally available to and known by the
public, other than as a result of a disclosure by Contractor or any agent or
representative of Contractor in violation of this Agreement, or (ii) was
available to Contractor on a non-confidential basis from a source other than
Client, or any of Client's officers, directors, employees, agents or other
representatives) or other information and data of a secret and proprietary
nature which Client desires to keep confidential, and that Client has furnished,
or during the term will furnish such information to Contractor, Contractor
agrees and acknowledges (as used in this Article VII, Contractor shall mean and
include, Contractor and any subsidiaries, affiliates, related entities,
officers, agents, shareholders, partners, principals and/or employees) that
Client has exclusive proprietary rights to all Proprietary Information, and
Contractor hereby assigns to Client all rights that he or she might otherwise
possess in any Proprietary Information. Except as required in the performance of
Contractor's duties to Client, Contractor will not at any time during or after
the term hereof, directly or indirectly use, communicate, disclose, disseminate,
lecture upon, publish articles or otherwise put in the public domain, any
Proprietary Information relating to Client or Client's services, products or
business. Contractor agrees to deliver to Client any and all copies of
Proprietary Information in the possession or control of Contractor upon the
expiration or termination of this Agreement, or at any other time upon request
by Client. The provisions of this section shall survive the termination of this
Agreement.

          7.3      Non-Competition
and Non-Circumvention by Contractor. In consideration and recognition
of the fact that Contractor has access to Proprietary Information under the
terms and provisions of this Agreement and that Client will be introducing
Contractor to various product manufacturers, retailers and distributors,
Contractor represents, warrants and covenants to Client as follows:

	 	(a) 	
      Contractor shall at no time disclose to any person,
      without Client's prior written consent, any of the terms, conditions or
      provisions specified in this Agreement unless such disclosure is lawfully
      required by any federal governmental agency or is otherwise required to be
      disclosed by law or is necessary in any legal proceeding regarding the
      subject matter of this Agreement.

	 	 	 
	 	(b) 	
      During the term of this Agreement, Contractor shall not
      circumvent Client for the purpose of transacting any business with any
      person or entity which business shall interfere with any relationship
      whatsoever between such person or entity and Client, or use any
      Proprietary Information to compete with the business of Client. Contractor
      shall not solicit any of Client's employees, independent contractors
    or

Page 5 of 8

	 		
      agents for employment. Contractor shall not hire or
      engage in any way, any enterprise or person that competes with, or is
      engaged in a business substantially similar to, the business of
    Client.

	 	 	 
	 	(c) 	
      Contractor shall not for a period of one (1) year
      immediately following the termination of this Agreement with Client,
      either directly or indirectly (i) make known to any person, firm or
      corporation the names or addresses of any of Client's clients or any other
      information pertaining to them or Client's products or services; (ii) call
      on, solicit, or take away, or attempt to call on, solicit or take away any
      of Client's clients either on Contractor's behalf or that of another
      person, firm or corporation.

	 	 	 
	 	(d) 	
      Contractor shall not, during the term hereof or for a
      period of one (1) year following such term, enter into an agreement or
      contract directly with any manufacturer, retailer or distributor
      introduced to Contractor by Client for any services provided by Client
      herein or for any similar services.

	 	 	 
	 	(e) 	
      Contractor acknowledges and agrees that the
      representations, warranties and covenants made by Contractor and set forth
      in this section are material and that Client would not enter into this
      Agreement without Contractor's making such representations, warranties and
      covenants to Client.

	 	 	 
	 	(f) 	
      Contractor acknowledges and agrees that any breach by
      Contractor of the representations, warranties and covenants contained
      herein will cause irreparable harm and loss to Client, which harm and loss
      cannot be reasonably or adequately compensated in damages in an action at
      law. Therefore, Contractor expressly agrees that, in addition to any other
      rights or remedies which Client may possess, Client shall be entitled to
      injunctive and other equitable relief to prevent or remedy a breach of the
      representations, warranties and covenants made by Contractor
  herein.

	 	 	 
	 	(g) 	
      The terms and provisions of this section shall survive
      the termination of this Agreement for a period of one (1)
  year.

ARTICLE VIII 
GENERAL PROVISIONS

          8.1     
Notices. Unless otherwise provided in this Agreement, any notice
required or permitted by this Agreement to be given to either party shall be
deemed to have been duly given if in writing and delivered personally or mailed
by first-class, registered or certified mail, postage prepaid and addressed as
follows:

Page 6 of 8

	 	If to Contractor: 	Palisades Financial Ltd. 
	 	  	1288 Alberni Street, Suite 806 
	 	  	Vancouver, British Columbia 
	 	  	Canada V6E 4N5 
	 	  	  
	 	  	  
	 	If to Client: 	Avalon Energy Corporation 
	 	  	1288 Alberni Street, Suite 806 
	 	  	Vancouver, British Columbia 
	 	  	Canada V6E 4N5 

          8.2     
Assignment of Contract. Contractor shall not assign or otherwise
transfer its rights under this Agreement, without the prior written consent of
Client. Any attempt to make such an assignment without Client's consent shall be
void. Client's consent shall not be reasonably withheld.

          8.3     
Amendments. Contractor and Client agree that this Agreement shall be
modified only by a written agreement duly executed by persons authorized to
execute agreements on their behalf.

          8.4      Nonwaiver.
Contractor and Client agree that no failure to exercise, and no delay
in exercising any right, power, or privilege hereunder on the part of either
party shall operate as a waiver of any right, power or privilege. Contractor and
Client further agree that no single or partial exercise of any right, power, or
privilege hereunder shall preclude its further exercise.

          8.5      Payment
of Monies Due Deceased Contractor. If Contractor dies before completing
the services under this Agreement, any monies due Contractor from Client under
this Agreement as of the date of death will be paid to Contractor's executors,
administrators, heirs, personal representatives, successors and assigns.

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

        8.7      Severability.
If any part of this Agreement is adjudged by any court of competent
jurisdiction to be invalid, that judgment shall not affect or nullify the
remainder of this Agreement, and the effect shall be confined to the part
immediately involved in the controversy adjudged.

          8.8      Governing
Law. This Agreement shall be deemed to have been made in, and shall be
construed pursuant to, the laws of the State of Nevada.

          8.9      Entire
Agreement. Client and Contractor acknowledge and agree that this
Agreement including the Exhibits attached hereto, is the complete and exclusive
statement of the mutual understanding of the parties and that it supersedes and
cancels all previous written and oral agreements and communications relating to
the subject matter of this Agreement.

Page 7 of 8

          8.10     
Indemnification. Contractor shall save Client and its agents, officers,
directors, shareholders, employees, attorneys, successors, predecessors, parent
and subsidiary corporations, affiliates, accountants, representatives,
contractors, and assigns and all persons acting by, through, under or in concert
with any of them, harmless from and against and shall indemnify Client and its
agents, officers, directors, shareholders, employees, attorneys, successors,
predecessors, parent and subsidiary corporations, affiliates, accountants,
representatives, contractors, and assigns and all persons acting by, through,
under or in concert with any of them, for any liability, loss, costs, expenses,
or damages howsoever caused by reason of any injury (whether to body, property,
or personal or business character or reputation) sustained by any person or to
property by reason of any act, neglect, default or omission of Contractor or any
of Contractor's agents, employees, or other representatives, and Contractor
shall pay all amounts to be paid or discharged in case of an action or any such
damages or injuries. If Client or its agents, officers, directors, shareholders,
employees, attorneys, successors, predecessors, parent and subsidiary
corporations, affiliates, accountants, representatives, contractors, and assigns
and all persons acting by, through, under or in concert with any of them, is
sued in any court for damages by reason of any of the acts of Contractor,
Contractor or such other party shall defend the resulting action (or cause same
to be defended) at Contractor's expense and shall pay and discharge any judgment
that may be rendered in any such action; if Contractor fails or neglects to so
defend in such action, Client may defend such action and any expenses, including
reasonable attorneys' fees, which Client may pay or incur in defending such
action and the amount of any judgment which Client may be required to pay shall
be promptly reimbursed by Contractor upon demand by Client.

IN WITNESS WHEREOF, the undersigned have caused this Agreement
to be signed on the date first written above.

	CONTRACTOR 	 	 CLIENT 
	 	 	 	 	 
	Palisades Financial Ltd. 	 	 Avalon Energy Corporation 
	a British Columbia Corporation 	 	 a Nevada Corporation 
	 	 	 	 	 
	 	 	 	 	 
	By: 	  	 	By: 	  
	 	 	 	 	 
	Its: 	President 	 	Its: 	President 
	  	  	 	  	  
	 	 	 	 	 
	 	 	 	 	 
	  	  	 	By: 	  
	 	 	 	 	 
	  	  	 	Its: 	Secretary 

Page 8 of 8

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