Document:

altn_ex49.htm

EXHIBIT 4.9
 
NEITHER THIS SECURITY NOR THE SECURITIES FOR WHICH THIS SECURITY IS EXERCISABLE HAVE BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS AS EVIDENCED BY A LEGAL OPINION OF COUNSEL TO THE TRANSFEROR TO SUCH EFFECT, THE SUBSTANCE OF WHICH SHALL BE REASONABLY ACCEPTABLE TO THE COMPANY. 
 
COMMON STOCK PURCHASE WARRANT
ALTERNUS ENERGY INC.
 
	Warrant Shares:
	Issuance Date: __, 2019

 
Warrant No: 00__
 
THIS COMMON STOCK PURCHASE WARRANT (the “Warrant”) certifies that, for value received, [*], Email:[*], or its assigns (the “Holder”) is entitled, upon the terms and subject to the limitations on exercise and the conditions hereinafter set forth, at any time on or after the date hereof (the “Initial Exercise Date”) and on or prior to the close of business on the three (3) year anniversary of the Initial Exercise Date (the “Termination Date”) but not thereafter, to subscribe for and purchase from ALTERNUS ENERGY INC., a Nevada corporation (the “Company”), up to [*] () shares (as subject to adjustment hereunder, the “Warrant Shares”) of Common Shares. The purchase price of one Common Share under this Warrant shall be equal to the Exercise Price, as defined in Section 2(b) .
 
Section 1. Definitions. Capitalized terms used and not otherwise defined herein shall have the meanings set forth in that certain Securities Purchase Agreement (the “Purchase Agreement”), dated May __, 2019, among the Company and the purchasers signatory thereto and the Note issued to the Holder contemporaneously with this Warrant.
 
Section 2. Exercise.
 
(a) Exercise of the purchase rights represented by this Warrant may be made, in whole or in part, at any time or times on or after the Initial Exercise Date and on or before the Termination Date by delivery to the Company (or such other office or agency of the Company as it may designate by notice in writing to the registered Holder at the address of the Holder appearing on the books of the Company) of a duly executed facsimile copy of the Notice of Exercise Form annexed hereto. Within four (4) Trading Days following the date of exercise as aforesaid, the Holder shall deliver the aggregate Exercise Price for the shares specified in the applicable Notice of Exercise by wire transfer or cashier’s check drawn on a United States bank. Notwithstanding anything herein to the contrary (although the Holder may surrender the Warrant to, and receive a replacement Warrant from, the Company), the Holder shall not be required to physically surrender this Warrant to the Company until the Holder has purchased all of the Warrant Shares available hereunder and the Warrant has been exercised in full, in which case, the Holder shall surrender this Warrant to the Company for cancellation within three (3) Trading Days of the date the final Notice of Exercise is delivered to the Company. Partial exercises of this Warrant resulting in purchases of a portion of the total number of Warrant Shares available hereunder shall have the effect of lowering the outstanding number of Warrant Shares purchasable hereunder in an amount equal to the applicable number of Warrant Shares purchased. The Holder and the Company shall maintain records showing the number of Warrant Shares purchased and the date of such purchases. The Company shall deliver any objection to any Notice of Exercise Form within one (1) Trading Day of delivery of such notice. The Holder and any assignee, by acceptance of this Warrant, acknowledge and agree that, by reason of the provisions of this paragraph, following the purchase of a portion of the Warrant Shares hereunder, the number of Warrant Shares available for purchase hereunder at any given time may be less than the amount stated on the face hereof.
 
	 
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(b) Exercise Price. The exercise price per share of the Common Shares under this Warrant shall be Thirty Cents (US$0.30), subject to adjustment as described herein (“Exercise Price”).
 
(c) Mechanics of Exercise.
 
(i) Delivery of Certificates Upon Exercise. Certificates for shares purchased hereunder shall be transmitted by the Transfer Agent to the Holder by crediting the account of the Holder’s prime broker with The Depository Trust Company through its Deposit or Withdrawal at Custodian system (“DWAC”) if the Company is then a participant in such system and either (A) there is an effective registration statement permitting the issuance of the Warrant Shares to or resale of the Warrant Shares by the Holder or (B) Rule 144 is available, and otherwise by physical delivery to the address specified by the Holder in the Notice of Exercise by the date that is three (3) Trading Days after the latest of (A) the delivery to the Company of the Notice of Exercise, (B) surrender of this Warrant (if required) and (C) payment of the aggregate Exercise Price as set forth above (such date, the “Warrant Share Delivery Date”). The Warrant Shares shall be deemed to have been issued, and Holder or any other person so designated to be named therein shall be deemed to have become a holder of record of such shares for all purposes, as of the date the Warrant has been exercised, with payment to the Company of the Exercise Price and all taxes required to be paid by the Holder, if any, pursuant to Section 2(d)(vi) prior to the issuance of such shares, having been paid. 
 
(ii) Delivery of New Warrants Upon Exercise. If this Warrant shall have been exercised in part, the Company shall, at the request of a Holder and upon surrender of this Warrant certificate, at the time of delivery of the certificate or certificates representing Warrant Shares, deliver to the Holder a new Warrant evidencing the rights of the Holder to purchase the unpurchased Warrant Shares called for by this Warrant, which new Warrant shall in all other respects be identical with this Warrant.
 
(iii) In addition to any other remedies which may be available to the Holder, in the event that the Company fails for any reason to effect delivery of the Warrant Shares by the Warrant Share Delivery Date, the Holder may revoke all or part of the relevant Warrant exercise by delivery of a notice to such effect to the Company, whereupon the Company and the Holder shall each be restored to their respective positions immediately prior to the exercise of the relevant portion of this Warrant.
 
(iv) No Fractional Shares or Scrip. No fractional shares or scrip representing fractional shares shall be issued upon the exercise of this Warrant. As to any fraction of a share which the Holder would otherwise be entitled to purchase upon such exercise, the Company shall, at its election, either pay a cash adjustment in respect of such final fraction in an amount equal to such fraction multiplied by the Exercise Price or round up to the next whole share.
 
(v) Charges, Taxes and Expenses. Issuance of certificates for Warrant Shares shall be made without charge to the Holder for any issue or transfer tax or other incidental expense in respect of the issuance of such certificate, all of which taxes and expenses shall be paid by the Company, and such certificates shall be issued in the name of the Holder or in such name or names as may be directed by the Holder; provided, however, that in the event certificates for Warrant Shares are to be issued in a name other than the name of the Holder, this Warrant when surrendered for exercise shall be accompanied by the Assignment Form attached hereto duly executed by the Holder and the Company may require, as a condition thereto, the payment of a sum sufficient to reimburse it for any transfer tax incidental thereto. The Company shall pay all Transfer Agent fees required for same-day processing of any Notice of Exercise.
 
(vi) Closing of Books. The Company will not close its stockholder books or records in any manner which prevents the timely exercise of this Warrant, pursuant to the terms hereof.
 
	 
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(d) Holder’s Exercise Limitations. The Company shall not effect any exercise of this Warrant, and a Holder shall not have the right to exercise any portion of this Warrant, pursuant to Section 2 or otherwise, to the extent that after giving effect to such issuance after exercise as set forth on the applicable Notice of Exercise, the Holder (together with the Holder’s Affiliates, and any other Persons acting as a group together with the Holder or any of the Holder’s Affiliates), would beneficially own in excess of the Beneficial Ownership Limitation (as defined below). For purposes of the foregoing sentence, the number of Common Shares beneficially owned by the Holder and its Affiliates shall include the number of Common Shares issuable upon exercise of this Warrant with respect to which such determination is being made, but shall exclude the number of Common Shares which would be issuable upon (i) exercise of the remaining, nonexercised portion of this Warrant beneficially owned by the Holder or any of its Affiliates and (ii) exercise or conversion of the unexercised or nonconverted portion of any other securities of the Company subject to a limitation on conversion or exercise analogous to the limitation contained herein beneficially owned by the Holder or any of its Affiliates. Except as set forth in the preceding sentence, for purposes of this Section 2(e) , beneficial ownership shall be calculated in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder, it being acknowledged by the Holder that the Company is not representing to the Holder that such calculation is in compliance with Section 13(d) of the Exchange Act and the Holder is solely responsible for any schedules required to be filed in accordance therewith. To the extent that the limitation contained in this Section 2(e) applies, the determination of whether this Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates) and of which portion of this Warrant is exercisable shall be in the sole discretion of the Holder, and the submission of a Notice of Exercise shall be deemed to be the Holder’s determination of whether this Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates) and of which portion of this Warrant is exercisable, in each case subject to the Beneficial Ownership Limitation, and the Company shall have no obligation to verify or confirm the accuracy of such determination. In addition, a determination as to any group status as contemplated above shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder. For purposes of this Section 2(e) , in determining the number of outstanding Common Shares, a Holder may rely on the number of outstanding Common Shares as reflected in (A) the Company’s most recent periodic or annual report filed with the Commission, as the case may be, (B) a more recent public announcement by the Company or (C) a more recent written notice by the Company or the Transfer Agent setting forth the number of Common Shares outstanding. Upon the written or oral request of a Holder, the Company shall within two Trading Days confirm orally and in writing to the Holder the number of Common Shares then outstanding. In any case, the number of outstanding Common Shares shall be determined after giving effect to the conversion or exercise of securities of the Company, including this Warrant, by the Holder or its Affiliates since the date as of which such number of outstanding Common Shares was reported. The “Beneficial Ownership Limitation” shall be 9.99% of the number of shares of the Common Shares outstanding immediately after giving effect to the issuance of Common Shares issuable upon exercise of this Warrant. The Holder may decrease the Beneficial Ownership Limitation at any time and the Holder, upon not less than 61 days’ prior notice to the Company, may increase the Beneficial Ownership Limitation provisions of this Section 2(e) , provided that the Beneficial Ownership Limitation in no event exceeds 9.99% of the number of shares of the Common Shares outstanding immediately after giving effect to the issuance of Common Shares upon exercise of this Warrant held by the Holder and the provisions of this Section 2(e) shall continue to apply. Any such increase will not be effective until the 61st day after such notice is delivered to the Company. The provisions of this paragraph shall be construed and implemented in a manner otherwise than in strict conformity with the terms of this Section 2(e) to correct this paragraph (or any portion hereof) which may be defective or inconsistent with the intended Beneficial Ownership Limitation herein contained or to make changes or supplements necessary or desirable to properly give effect to such limitation. The limitations contained in this paragraph shall apply to a successor holder of this Warrant. 
 
Section 3. Certain Adjustments. 
 
(a) Stock Dividends and Splits. If the Company, at any time while this Warrant is outstanding: (i) pays a stock dividend or otherwise makes a distribution or distributions on shares of its Common Shares or any other equity or equity equivalent securities payable in Common Shares (which, for avoidance of doubt, shall not include any Common Shares issued by the Company upon exercise of this Warrant or pursuant to any of the other Transaction Documents), (ii) subdivides outstanding Common Shares into a larger number of shares, (iii) combines (including by way of reverse stock split) outstanding Common Shares into a smaller number of shares, or (iv) issues by reclassification of shares of the Common Shares any shares of capital stock of the Company, then in each case the Exercise Price shall be multiplied by a fraction of which the numerator shall be the number of Common Shares (excluding treasury shares, if any) outstanding immediately before such event and of which the denominator shall be the number of Common Shares outstanding immediately after such event, and the number of shares issuable upon exercise of this Warrant shall be proportionately adjusted such that the aggregate Exercise Price of this Warrant shall remain unchanged. Any adjustment made pursuant to this Section 3(a) shall become effective immediately after the record date for the determination of stockholders entitled to receive such dividend or distribution and shall become effective immediately after the effective date in the case of a subdivision, combination or re‐classification.
 
	 
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(b) Subsequent Rights Offerings. In addition to any adjustments pursuant to Section 3(a) above, if at any time the Company grants, issues or sells any rights to purchase stock, warrants, securities or other property pro rata to the record holders of any class of Common Shares (the “Purchase Rights”), then the Holder will be entitled to acquire, upon the terms applicable to such Purchase Rights, the aggregate Purchase Rights which the Holder could have acquired if the Holder had held the number of Common Shares acquirable upon complete exercise of this Warrant (without regard to any limitations on exercise hereof, including without limitation, the Beneficial Ownership Limitation) immediately before the date on which a record is taken for the grant, issuance or sale of such Purchase Rights, or, if no such record is taken, the date as of which the record holders of Common Shares are to be determined for the grant, issue or sale of such Purchase Rights (provided, however, to the extent that the Holder’s right to participate in any such Purchase Right would result in the Holder exceeding the Beneficial Ownership Limitation, then the Holder shall not be entitled to participate in such Purchase Right to such extent (or beneficial ownership of such Common Shares as a result of such Purchase Right to such extent) and such Purchase Right to such extent shall be held in abeyance for the Holder until such time, if ever, as its right thereto would not result in the Holder exceeding the Beneficial Ownership Limitation).
 
(c) Pro Rata Distributions. If the Company, at any time while this Warrant is outstanding, shall distribute to all holders of Common Shares (and not to the Holder) evidences of its indebtedness or assets (including cash and cash dividends) or rights or warrants to subscribe for or purchase any security other than the Common Shares , then in each such case the Exercise Price shall be adjusted by multiplying the Exercise Price in effect immediately prior to the record date fixed for determination of stockholders entitled to receive such distribution by a fraction of which the denominator shall be the VWAP determined as of the record date mentioned above, and of which the numerator shall be such VWAP on such record date less the then per share fair market value at such record date of the portion of such assets or evidence of indebtedness so distributed applicable to one outstanding share of the Common Shares as determined by the Board of Directors in good faith. In either case the adjustments shall be described in a statement provided to the Holder of the portion of assets or evidences of indebtedness so distributed or such subscription rights applicable to one Common Share. Such adjustment shall be made whenever any such distribution is made and shall become effective immediately after the record date mentioned above.
 
	 
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(d) Fundamental Transaction. If, at any time while this Warrant is outstanding, (i) the Company, directly or indirectly, in one or more related transactions effects any merger or consolidation of the Company with or into another Person, (ii) the Company, directly or indirectly, effects any sale, lease, license, assignment, transfer, conveyance or other disposition of all or substantially all of its assets in one or a series of related transactions, (iii) any, direct or indirect, purchase offer, tender offer or exchange offer (whether by the Company or another Person) is completed pursuant to which holders of Common Shares are permitted to sell, tender or exchange their shares for other securities, cash or property and has been accepted by the holders of 50% or more of the outstanding Common Shares, (iv) the Company, directly or indirectly, in one or more related transactions effects any reclassification, reorganization or recapitalization of the Common Shares or any compulsory share exchange pursuant to which the Common Shares are effectively converted into or exchanged for other securities, cash or property, or (v) the Company, directly or indirectly, in one or more related transactions consummates a stock or share purchase agreement or other business combination (including, without limitation, a reorganization, recapitalization, spin-off or scheme of arrangement) with another Person or group of Persons whereby such other Person or group acquires more than 50% of the outstanding Common Shares (not including any Common Shares held by the other Person or other Persons making or party to, or associated or affiliated with the other Persons making or party to, such stock or share purchase agreement or other business combination) (each a “Fundamental Transaction”), then, upon any subsequent exercise of this Warrant, the Holder shall have the right to receive, for each Warrant Share that would have been issuable upon such exercise immediately prior to the occurrence of such Fundamental Transaction, at the option of the Holder (without regard to any limitation in Section 2(e) on the exercise of this Warrant), the number of Common Shares (or successor security) of the successor or acquiring corporation or of the Company, if it is the surviving corporation, and any additional consideration (the “Alternate Consideration”) receivable as a result of such Fundamental Transaction by a holder of the number of Common Shares for which this Warrant is exercisable immediately prior to such Fundamental Transaction (without regard to any limitation in Section 2(e) on the exercise of this Warrant). For purposes of any such exercise, the determination of the Exercise Price shall be appropriately adjusted to apply to such Alternate Consideration based on the amount of Alternate Consideration issuable in respect of one Common Share in such Fundamental Transaction, and the Company shall apportion the Exercise Price among the Alternate Consideration in a reasonable manner reflecting the relative value of any different components of the Alternate Consideration. If holders of Common Shares are given any choice as to the securities, cash or property to be received in a Fundamental Transaction, then the Holder shall be given the same choice as to the Alternate Consideration it receives upon any exercise of this Warrant following such Fundamental Transaction. Notwithstanding anything to the contrary, in the event of a Fundamental Transaction, the Company or any Successor Entity (as defined below) shall, at the Holder’s option, exercisable at any time concurrently with, or within 30 days after, the consummation of the Fundamental Transaction, purchase this Warrant from the Holder by paying to the Holder an amount of cash equal to the Black Scholes Value of the remaining unexercised portion of this Warrant on the date of the consummation of such Fundamental Transaction. “Black Scholes Value” means the value of this Warrant based on the Black and Scholes Option Pricing Model obtained from the “OV” function on Bloomberg, L.P. (“Bloomberg”) determined as of the day of consummation of the applicable Fundamental Transaction for pricing purposes and reflecting (A) a risk-free interest rate corresponding to the U.S. Treasury rate for a period equal to the time between the date of the public announcement of the applicable Fundamental Transaction and the Termination Date, (B) an expected volatility equal to the greater of 100% and the 100 day volatility obtained from the HVT function on Bloomberg as of the Trading Day immediately following the public announcement of the applicable Fundamental Transaction, (C) the underlying price per share used in such calculation shall be the sum of the price per share being offered in cash, if any, plus the value of any non-cash consideration, if any, being offered in such Fundamental Transaction and (D) a remaining option time equal to the time between the date of the public announcement of the applicable Fundamental Transaction and the Termination Date. The Company shall cause any successor entity in a Fundamental Transaction in which the Company is not the survivor (the “Successor Entity”) to assume in writing all of the obligations of the Company under this Warrant and the other Transaction Documents in accordance with the provisions of this Section 3(e) pursuant to written agreements in form and substance reasonably satisfactory to the Holder and approved by the Holder (without unreasonable delay) prior to such Fundamental Transaction and shall, at the option of the Holder, deliver to the Holder in exchange for this Warrant a security of the Successor Entity evidenced by a written instrument substantially similar in form and substance to this Warrant which is exercisable for a corresponding number of shares of capital stock of such Successor Entity (or its parent entity) equivalent to the Common Shares acquirable and receivable upon exercise of this Warrant (without regard to any limitations on the exercise of this Warrant) prior to such Fundamental Transaction, and with an exercise price which applies the exercise price hereunder to such shares of capital stock (but taking into account the relative value of the Common Shares pursuant to such Fundamental Transaction and the value of such shares of capital stock, such number of shares of capital stock and such exercise price being for the purpose of protecting the economic value of this Warrant immediately prior to the consummation of such Fundamental Transaction), and which is reasonably satisfactory in form and substance to the Holder. Upon the occurrence of any such Fundamental Transaction, the Successor Entity shall succeed to, and be substituted for (so that from and after the date of such Fundamental Transaction, the provisions of this Warrant and the other Transaction Documents referring to the “Company” shall refer instead to the Successor Entity), and may exercise every right and power of the Company and shall assume all of the obligations of the Company under this Warrant and the other Transaction Documents with the same effect as if such Successor Entity had been named as the Company herein. 
 
	 
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(e) Calculations. All calculations under this Section 3 shall be made to the nearest cent or the nearest 1/100th of a share, as the case may be. For purposes of this Section 3 , the number of Common Shares deemed to be issued and outstanding as of a given date shall be the sum of the number of Common Shares (excluding treasury shares, if any) issued and outstanding.
 
(f) Notice to Holder.
 
(i) Adjustment to Exercise Price. Whenever the Exercise Price is adjusted pursuant to any provision of this Section 3 , the Company shall promptly mail to the Holder a notice setting forth the Exercise Price after such adjustment and any resulting adjustment to the number of Warrant Shares and setting forth a brief statement of the facts requiring such adjustment.
 
(ii) Notice to Allow Exercise by Holder. If (A) the Company shall declare a dividend (or any other distribution in whatever form) on the Common Shares, (B) the Company shall declare a special nonrecurring cash dividend on or a redemption of the Common Shares, (C) the Company shall authorize the granting to all holders of the Common Shares rights or warrants to subscribe for or purchase any shares of capital stock of any class or of any rights, (D) the approval of any stockholders of the Company shall be required in connection with any reclassification of the Common Shares, any consolidation or merger to which the Company is a party, any sale or transfer of all or substantially all of the assets of the Company, or any compulsory share exchange whereby the Common Shares are converted into other securities, or (E) the Company shall authorize the voluntary or involuntary dissolution, liquidation or winding up of the affairs of the Company, then, in each case, to the extent that such information constitutes material non-public information (as determined in good faith by the Company) the Company shall follow the procedure described in Section 13 of the Subscription Agreement and shall deliver to the Holder at its last address as it shall appear upon the Warrant Register of the Company, at least 20 calendar days prior to the applicable record or effective date hereinafter specified, a notice stating (x) the date on which a record is to be taken for the purpose of such dividend, distribution, redemption, rights or warrants, or if a record is not to be taken, the date as of which the holders of the Common Shares of record to be entitled to such dividend, distributions, redemption, rights or warrants are to be determined or (y) the date on which such reclassification, consolidation, merger, sale, transfer or share exchange is expected to become effective or close, and the date as of which it is expected that holders of the Common Shares of record shall be entitled to exchange their shares of the Common Shares for securities, cash or other property deliverable upon such reclassification, consolidation, merger, sale, transfer or share exchange; provided that the failure to mail such notice or any defect therein or in the mailing thereof shall not affect the validity of the corporate action required to be specified in such notice. To the extent that any notice provided hereunder constitutes, or contains, material, non-public information regarding the Company or any of the Subsidiaries, the Company shall simultaneously file such notice with the Commission pursuant to a Current Report on Form 8-K. The Holder shall remain entitled to exercise this Warrant during the period commencing on the date of such notice to the effective date of the event triggering such notice except as may otherwise be expressly set forth herein.
 
Section 4. Transfer of Warrant.
 
(a) Transferability. Subject to compliance with any applicable securities laws and the provisions of the Purchase Agreement, this Warrant and all rights hereunder (including, without limitation, any registration rights) are transferable, in whole or in part, upon surrender of this Warrant at the principal office of the Company or its designated agent, together with a written assignment of this Warrant substantially in the form attached hereto duly executed by the Holder or its agent or attorney and funds sufficient to pay any transfer taxes payable upon the making of such transfer. Upon such surrender and, if required, such payment, the Company shall execute and deliver a new Warrant or Warrants in the name of the assignee or assignees, as applicable, and in the denomination or denominations specified in such instrument of assignment, and shall issue to the assignor a new Warrant evidencing the portion of this Warrant not so assigned, and this Warrant shall promptly be cancelled. The Warrant, if properly assigned in accordance herewith, may be exercised by a new holder for the purchase of Warrant Shares without having a new Warrant issued.
 
(b) New Warrants. This Warrant may be divided or combined with other Warrants upon presentation hereof at the aforesaid office of the Company, together with a written notice specifying the names and denominations in which new Warrants are to be issued, signed by the Holder or its agent or attorney. Subject to compliance with Section 4(a) , as to any transfer which may be involved in such division or combination, the Company shall execute and deliver a new Warrant or Warrants in exchange for the Warrant or Warrants to be divided or combined in accordance with such notice. All Warrants issued on transfers or exchanges shall be dated the initial issuance date of this Warrant and shall be identical with this Warrant except as to the number of Warrant Shares issuable pursuant thereto.
 
	 
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(c) Warrant Register. The Company shall register this Warrant, upon records to be maintained by the Company for that purpose (the “Warrant Register”), in the name of the record Holder hereof from time to time. The Company may deem and treat the registered Holder of this Warrant as the absolute owner hereof for the purpose of any exercise hereof or any distribution to the Holder, and for all other purposes, absent actual notice to the contrary.
 
Section 5. Miscellaneous.
 
(a) No Rights as Stockholder Until Exercise. This Warrant does not entitle the Holder to any voting rights, dividends or other rights as a stockholder of the Company prior to the exercise hereof as set forth in Section 2(d)(i) .
 
(b) Loss, Theft, Destruction or Mutilation of Warrant. The Company covenants that upon receipt by the Company of evidence reasonably satisfactory to it of the loss, theft, destruction or mutilation of this Warrant or any stock certificate relating to the Warrant Shares, and in case of loss, theft or destruction, of indemnity or security reasonably satisfactory to it (which, in the case of the Warrant, shall not include the posting of any bond), and upon surrender and cancellation of such Warrant or stock certificate, if mutilated, the Company will make and deliver a new Warrant or stock certificate of like tenor and dated as of such cancellation, in lieu of such Warrant or stock certificate.
 
(c) Saturdays, Sundays, Holidays, etc. If the last or appointed day for the taking of any action or the expiration of any right required or granted herein shall not be a Trading Day, then, such action may be taken or such right may be exercised on the next succeeding Trading Day.
 
(d) Authorized Shares. The Company covenants that, during the period the Warrant is outstanding, it will reserve from its authorized and unissued Common Shares a sufficient number of shares to provide for the issuance of the Warrant Shares upon the exercise of any purchase rights under this Warrant. The Company further covenants that its issuance of this Warrant shall constitute full authority to its officers who are charged with the duty of executing stock certificates to execute and issue the necessary certificates for the Warrant Shares upon the exercise of the purchase rights under this Warrant. The Company will take all such reasonable action as may be necessary to assure that such Warrant Shares may be issued as provided herein without violation of any applicable law or regulation, or of any requirements of the Trading Market upon which the Common Shares may be listed. The Company covenants that all Warrant Shares which may be issued upon the exercise of the purchase rights represented by this Warrant will, upon exercise of the purchase rights represented by this Warrant and payment for such Warrant Shares in accordance herewith, be duly authorized, validly issued, fully paid and non-assessable and free from all taxes, liens and charges created by the Company in respect of the issue thereof (other than taxes in respect of any transfer occurring contemporaneously with such issue). Except and to the extent as waived or consented to by the Holder, the Company shall not by any action, including, without limitation, amending its certificate of incorporation or through any reorganization, transfer of assets, consolidation, merger, dissolution, issue or sale of securities or any other voluntary action, avoid or seek to avoid the observance or performance of any of the terms of this Warrant, but will at all times in good faith assist in the carrying out of all such terms and in the taking of all such actions as may be necessary or appropriate to protect the rights of Holder as set forth in this Warrant against impairment. Without limiting the generality of the foregoing, the Company will (i) not increase the par value of any Warrant Shares above the amount payable therefor upon such exercise immediately prior to such increase in par value, (ii) take all such action as may be necessary or appropriate in order that the Company may validly and legally issue fully paid and nonassessable Warrant Shares upon the exercise of this Warrant and (iii) use commercially reasonable efforts to obtain all such authorizations, exemptions or consents from any public regulatory body having jurisdiction thereof, as may be, necessary to enable the Company to perform its obligations under this Warrant. Before taking any action which would result in an adjustment in the number of Warrant Shares for which this Warrant is exercisable or in the Exercise Price, the Company shall obtain all such authorizations or exemptions thereof, or consents thereto, as may be necessary from any public regulatory body or bodies having jurisdiction thereof.
 
	 
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(e) Jurisdiction. All questions concerning governing law, jurisdiction, venue and the construction, validity, enforcement and interpretation of this Warrant shall be determined in accordance with the provisions of the Purchase Agreement.
 
(f) Restrictions. The Holder acknowledges that the Warrant Shares acquired upon the exercise of this Warrant, if not registered, or unless Rule 144 is available, will have restrictions upon resale imposed by state and federal securities laws.
 
(g) Non-waiver and Expenses. No course of dealing or any delay or failure to exercise any right hereunder on the part of Holder shall operate as a waiver of such right or otherwise prejudice the Holder’s rights, powers or remedies. Without limiting any other provision of this Warrant or the Purchase Agreement, if the Company willfully and knowingly fails to comply with any provision of this Warrant, which results in any material damages to the Holder, the Company shall pay to the Holder such amounts as shall be sufficient to cover any costs and expenses including, but not limited to, reasonable attorneys’ fees, including those of appellate proceedings, incurred by the Holder in collecting any amounts due pursuant hereto or in otherwise enforcing any of its rights, powers or remedies hereunder.
 
(h) Notices. Any notice, request or other document required or permitted to be given or delivered to the Holder by the Company shall be delivered in accordance with the notice provisions of the Purchase Agreement.
 
(i) Limitation of Liability. No provision hereof, in the absence of any affirmative action by the Holder to exercise this Warrant to purchase Warrant Shares, and no enumeration herein of the rights or privileges of the Holder, shall give rise to any liability of the Holder for the purchase price of any Common Shares or as a stockholder of the Company, whether such liability is asserted by the Company or by creditors of the Company.
 
(j) Remedies. The Holder, in addition to being entitled to exercise all rights granted by law, including recovery of damages, will be entitled to specific performance of its rights under this Warrant. The Company agrees that monetary damages would not be adequate compensation for any loss incurred by reason of a breach by it of the provisions of this Warrant and hereby agrees to waive and not to assert the defense in any action for specific performance that a remedy at law would be adequate.
 
(k) Successors and Assigns. Subject to applicable securities laws, this Warrant and the rights and obligations evidenced hereby shall inure to the benefit of and be binding upon the successors and permitted assigns of the Company and the successors and permitted assigns of Holder. The provisions of this Warrant are intended to be for the benefit of any Holder from time to time of this Warrant and shall be enforceable by the Holder or holder of Warrant Shares.
 
(l) Amendment. This Warrant may be modified or amended or the provisions hereof waived with the written consent of the Company and the Holders of not less than a majority of the outstanding Warrants issued pursuant to the Purchase Agreement.
 
(m) Severability. Wherever possible, each provision of this Warrant shall be interpreted in such manner as to be effective and valid under applicable law, but if any provision of this Warrant shall be prohibited by or invalid under applicable law, such provision shall be ineffective to the extent of such prohibition or invalidity, without invalidating the remainder of such provisions or the remaining provisions of this Warrant.
 
(n) Headings. The headings used in this Warrant are for the convenience of reference only and shall not, for any purpose, be deemed a part of this Warrant.
 
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IN WITNESS WHEREOF, the Company has caused this Warrant to be executed by its officer thereunto duly authorized as of the date first above indicated.
 
	 	ALTERNUS ENERGY INC.	
	 	 	 	 
		By:		
	 
	Name: 
	Vincent Browne	 
	 	Title: 	CEO	 

 
	 
	9altn_ex101.htm

EXHIBIT 10.1
  
 
PROFESSIONAL CONSULTING AGREEMENT
 
This Professional Consulting Agreement ("Agreement") is made effective as of July 24, 2015 ("Effective Date"), by and between Power Clouds, Inc., a Nevada corporation ("Company") and VestCo Corp., a Delaware corporation (“VestCo”), for the term set forth in Section 3 below. The Company and VestCo (collectively “Parties”) agree to the following terms and conditions:
 
1. ENGAGEMENT. Company hereby retains VestCo to perform executive management services, and VestCo hereby accepts such retention and agrees to do and perform executive management services upon the terms and conditions set forth herein. Vincent Browne will be the designated individual for the term of this agreement.
 
2. DUTIES OF THE EXECUTIVE.
 
2.1 Consulting Services. VestCo shall designate Vincent Browne as the individual of VestCo to have the title, duties and responsibilities of the Chief Financial Officer (“Executive”) assigned and appointed by the Company's Board of Directors ("Board of Directors") both upon the initial term of this Agreement and as may be reasonably assigned from time to time. VestCo shall perform faithfully and diligently all duties as set forth in Exhibit A and incorporated herein by this reference. Executive shall have the necessary authority to make any representation for or contract on behalf of the Company. Upon full execution of this Agreement, the Company’s Board of Directors shall designate Executive as a Member of the Board, shall recommend Executive as a director, and the Board shall otherwise use its best efforts to have Executive elected as a director and to have him remain as a Member of the Board during the Term of this Agreement.
 
2.2 Best Efforts/Full-time. VestCo will expend Executive’s best efforts on behalf of Company, and will abide by all policies and decisions made by Company or its Board of Directors, as well as all applicable federal, state and local laws, regulations or ordinances, VestCo will act in the best interest of Company at all times and devote the majority of time to Company activities. The Company acknowledges and agrees that VestCo may spend some time, if necessary, during the term of this Agreement on projects outside the scope of his duties herein, so long as such activities do not negatively impact the Company.
 
2.3 Work Location. The services described in Section 2 shall be rendered by Executive at such locations as the parties may reasonably agree upon from time to time.
 
3. TERM.
 
3.1 Initial Term. The term of this Agreement shall be for an initial term commencing on the Effective Date set forth above and continuing for a period of twelve months following such date ("Initial Term"), unless sooner terminated in accordance with section 6 below.
 
3.2 Renewal. On completion of the Initial Term specified in subsection 3.1 above, this Agreement will automatically renew for subsequent one year terms unless either party provides written notice of intent not to renew at least ninety (30) days' prior to the expiration of the existing term. In the event either party gives notice of nonrenewal pursuant to this subsection 3.2, this Agreement will expire at the end of the current term. 
 
	 
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4. COMPENSATION.
 
4.1 Base Fee. As compensation for VestCo's performance of its duties hereunder, Company shall pay to VestCo a monthly fee of Twelve Thousand Dollars ($12,000.00) payable quarterly in advance pursuant to invoices submitted by VestCo. The first payment to be made on signing this agreement. The parties agree that the monthly fee shall be increased to Fifteen Thousand Dollars ($15,000) per month once third party financing / investment into the Company reaches a cumulative total of Sixty Million Dollars ($60,000,000). The parties agree that the monthly fee shall be increased to Twenty Thousand Dollars ($20,000) once the Company achieves a listing on the NASDAQ Capital Markets. In the event this Agreement is terminated by either party, for any reason, VestCo will be compensated in accordance with the terms and conditions set forth in Section 6 below.
 
4.2 Additional Compensation. VestCo will be entitled to receive a cash bonus, equal to Two Percent (2%) of Adjusted Annual Earnings for the Company. Adjusted Annual Earnings will be calculated as EBITDA for the Company less interest charges, as reported in the Form-10k filed with the U.S. Securities and Exchange Commission (SEC) for the respective period. For the purpose of this clause, Additional Compensation will apply for the calendar year ending December 31, 2016 onwards. 
 
4.3 Equity Compensation. 
 
(a). Service Warrants: Upon the full execution of this Agreement, the Company will issue to VestCo, warrants to purchase up to a total of one million, eight hundred thousand (1,800,000) shares of restricted common stock of the Company at an exercise price of Twenty Cents ($0.20) per share (“Warrants”), with 600,000 vesting annually over a period of three (3) years and having a three (3) year exercise term from issuance.
(b). Financing Warrants: Upon the full execution of this Agreement, the Company will issue to VestCo additional warrants to purchase up to One Million (1,000,000) shares of restricted common stock of the Company at an exercise price of Twenty Cents ($0.20) per share, which shall only vest at the time that third party financing/investment into the Company reaches a cumulative total of $60,000,000, from sources identified by VestCo; such warrants shall have a three (3) year exercise term from issuance.
 
(c). Earn-In warrants: VestCo will be entitled to receive up to Two Million (2,000,000) additional warrants with a three (3) year term from issuance, at a purchase price equal to the market price of the Common Stock at time of each issuance, based on the successful acquisition by the Company, of productive Solar projects over and above those built by the Company. Four Hundred Thousand (400,000) warrants shall be issued for every 50 Mw acquired.
 
4.4 Tax Elections. VestCo acknowledges that the Company shall not be responsible for providing any legal or tax advice to VestCo in connection with the consulting fee payable this Agreement. The Company shall bear no liability or responsibility for any penalties that VestCo may owe to the Internal Revenue Service.
 
4.5 Performance and Fee Review. The Board of Directors will review VestCo's performance on an annual basis. Adjustments to consulting fee or other compensation, if any, will be made by the Board of Directors in its sole and absolute discretion, at that time.
 
	 
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5. BUSINESS EXPENSES.
 
Executive acknowledges that he owes the Company a fiduciary obligation to minimize, to the extent practicable, expenses incurred in the course and scope of performing his duties under this Agreement. VestCo will be reimbursed for all reasonable, out-of-pocket business expenses incurred in the performance of his duties on behalf of Company. To obtain reimbursement, expenses must be submitted promptly with appropriate supporting documentation in accordance with Company's policies to be provided to VestCo. Business expenses will be submitted and reimbursed monthly.
 
6. TERMINATION
 
6.1 Termination for Cause by Company. Company may terminate this Agreement at any time for Cause. For purposes of this Agreement, "Cause" is defined as: (a) Consultant's breach of fiduciary duty to the Company or its Board of Directors; (b) acts or omissions constituting gross negligence, recklessness or willful misconduct on the part of Consultant with respect to Consultant's obligations or otherwise relating to the business of Company; (c) Consultant's material breach of this Agreement; (d) Consultant's conviction or entry of a plea of nolo contendere for fraud, misappropriation or embezzlement, or any felony or crime of moral turpitude; and (e) Consultant's willful neglect of duties as determined in the sole and exclusive discretion of the Board of Directors. In the event this Agreement is terminated in accordance with this subsection 6.1, Consultant shall be entitled to receive only the consultant fee then in effect, prorated to the date of termination. All other Company obligations to Consultant pursuant to this Agreement will become automatically terminated and completely extinguished. Consultant will not be entitled to receive the Payment described in subsection 6.2 below.
 
6.2 Termination by Company. Company may terminate this Agreement without Cause at any time by giving at least ninety (90) days' advance written notice to VestCo. In the event of such termination, VestCo will receive all outstanding base fees earned to the date of termination, including any Additional Compensation amounts payable, and, if the Agreement is terminated within the first twelve months, a termination payment equal to six (6) months of the monthly fee then in effect on date of termination, and if the Agreement is terminated after the first annual anniversary, a termination payment equal to one (1) month’s monthly fee then in effect on date of termination (collectively defined as “Termination Payment”). The Termination Payment will be payable in two (2) equal monthly payments with the first payment paid on Termination and the remainder the following month thereafter, provided that VestCo: (a) complies with all surviving provisions of this Agreement as specified in subsection 14.8 below; (b) executes a full general release, releasing all claims, known or unknown, that VestCo may have against Company arising out of or in any way related to VestCo's services or termination of this Agreement with Company. All other Company obligations to VestCo will be automatically terminated and completely extinguished. The Company may also direct VestCo to cease all work on behalf of the Company immediately if it decides to terminate this Agreement under this provision. 
 
6.3 Termination by VestCo for Good Reason. VestCo may terminate this Agreement for Good Reason, at any time, by giving at least ninety (90) days' advance written notice to Company. In the event of VestCo's termination of Agreement for Good Reason, VestCo will be entitled to receive the consulting fee then in effect, prorated to the date of termination, and the Termination Payment described in subsection 6.2 above, provided VestCo complies with all of the conditions in subsection 6.2 above. All other Company obligations to VestCo pursuant to this Agreement will become automatically terminated and completely extinguished. VestCo will be deemed to have resigned for Good Reason in the following circumstances: (a) Company's material breach of this Agreement; (b) VestCo's position and/or duties are so materially modified that VestCo's duties are no longer consistent with the VestCo performing as Executive; (c) VestCo no longer reports to the Chairman and CEO; VestCo’s current seat on the Board of Directors is eliminated.
 
	 
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6.4 Voluntary Resignation by VestCo Without Good Reason. VestCo may terminate this Agreement without Good Reason by giving at least ninety (90) days' advance written notice, In the event of VestCo's termination of this Agreement without Good Reason, VestCo will be entitled to receive only the outstanding base fees in effect at that time, for the notice period and no other amount for the remaining months of the subsequent one year renewal period, if any. VestCo will also be entitled to receive any earned to date along with any accrued bonus already earned All other Company obligations to VestCo pursuant to this Agreement will become automatically terminated and completely extinguished. In addition, VestCo will not be entitled to receive the Termination Payment described in subsection 6.2 above.
 
7. NO CONFLICT OF INTEREST. 
 
During the term of VestCo's retention with Company, VestCo must not engage in any work, paid or unpaid, that creates an actual conflict of interest with Company. Such work shall include, but is not limited to, directly or indirectly competing with Company in anyway, or acting as an officer, director, employee, consultant, stockholder, volunteer, lender, or agent of any business enterprise of the same nature as, or which is in direct competition with, the business in which Company is now engaged or in which Company becomes engaged during the term of VestCo's retention with Company, as may be determined by the Board of Directors in its sole discretion. If the Board of Directors believes such a conflict exists during the term of this Agreement, the Board of Directors may ask VestCo to choose to discontinue the other work or terminate this Agreement. In addition, VestCo agrees not to refer any client or potential client of Company to competitors of Company, without obtaining Company's prior written consent, during the term of VestCo's retention.
 
8. CONFIDENTIALITY AND PROPRIETARY INFORMATION. In the course of performing consulting services, the parties recognize that the VestCo may come in contact or become familiar with Company trade secrets or proprietary information which the Company or its subsidiaries or affiliates may consider confidential. VestCo agrees that it shall not disclose such trade secrets or proprietary information not in the public domain learned as a result of this Agreement unless and until such trade secrets or proprietary information becomes generally known or is in the public domain. 
 
9. NONSOLICITATION. VestCo understands and agrees that Company's employees and customers and any information regarding Company employees and/or customers is confidential and constitutes its trade secrets under Nevada law. VestCo agrees to use his best efforts to protect against the intentional or inadvertent disclosure of such trade secrets to the Company's competitors, customers or vendors, or to the general public.
 
9.1 Nonsolicitation of Customers or Prospects. VestCo agrees that during the term of this Agreement and for a period of one (1) year after the termination of this Agreement, VestCo will not, either directly or indirectly, separately or in association with others, interfere with, impair, disrupt or damage Company's relationship with any of its customers or customer prospects (excluding customers with which VestCo had a prior active business relationship) by soliciting or encouraging others to solicit any of them for the purpose of diverting or taking away business from Company.
 
	 
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9.2 Nonsolicitation of Company's Employees. VestCo agrees that during the term of this Agreement and for a period of two (2) years after the termination of this Agreement, VestCo will not, either directly or indirectly, separately or in association with others, interfere with, impair, disrupt or damage Company's business by soliciting, encouraging or recruiting any of Company's employees or causing others to solicit or encourage any of Company's employees to discontinue their employment with Company.
 
10. INDEPENDENT CONTRACTOR RELATIONSHIP. VestCo’s relationship with the Company is that of an independent contractor, and nothing in this Agreement is intended to, or should be construed to, create a partnership, agency, venture or employment relationship. VestCo is solely responsible for filing on a timely basis all tax returns and payments required to be made with any federal, state, or local tax authority with regard to the performance of services and receipt of fees under this Agreement. VestCo is solely responsible for, and must maintain adequate records of expenses incurred and fees received in the course of performing services under this Agreement. The Company will report all amounts paid to VestCo to applicable federal, state, and local tax agencies, among others, as required by law, including, but not limited to the Internal Revenue Service. 
 
11. INDEMNIFICATION. The Company has affirmatively advised VestCo that it has no interest in knowing or using any trade secrets or other confidential information that VestCo may have from any prior employment or consulting engagement. VestCo has confirmed to the Company and its Board of Directors that he will not use or disclose any trade secrets or other confidential information in the performance of his duties under this Agreement. VestCo agrees to make full and prompt disclosure of all information necessary to respond to a claim by any third party that he has improperly used or disclosed trade secrets or other confidential information so that the Company can appropriately respond to any such claim. VestCo further agrees and covenants to indemnify for all damages or consequential loss to the Company if it is later determined that he has made improper use or disclosure of the trade secrets or other confidential information of one or more third parties. In the event VestCo is named as a party in a legal action by any third party, or present or former employee of Company, for any act or omission falling within the scope of VestCo’s services as defined herein not to include criminal activities, Company shall, to the extent permitted by law, advance to VestCo expenses, including reasonable attorneys' fees actually and reasonably incurred by him (or at the Company's option, provide such legal services to him) and shall also indemnify him against any liability he may incur, to the extent permitted by law.
 
12. AGREEMENT TO ARBITRATE. To the fullest extent permitted by law, VestCo and Company agree to arbitrate any controversy, claim or dispute between them arising out of or in any way related to this Agreement, and any disputes upon termination of this Agreement, including but not limited to breach of contract, tort, discrimination, harassment, and any claims for violation of any local, state or federal law, statute, regulation or ordinance or common law. For the purpose of this agreement to arbitrate, references to "Company" include all parent, subsidiary or related entities and their employees, supervisors, officers, directors, agents, pension or benefit plans, pension or benefit plan sponsors, fiduciaries, administrators, affiliates and all successors and assigns of any of them, and this agreement shall apply to them to the extent VestCo's claims arise out of or relate to their actions on behalf of Company.
 
13. INJUNCTIVE RELIEF. The parties acknowledges that a breach of the covenants contained in sections 8-11 (collectively "Covenants") would cause irreparable injury to the non-breaching party and agree that in the event of any such breach, the non-breaching party shall be entitled to seek temporary, preliminary and permanent injunctive relief without the necessity of proving actual damages or posting any bond or other security.
 
	 
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14. GENERAL PROVISIONS.
 
14.1 Successors and Assigns. The rights and obligations of Company under this Agreement shall inure to the benefit of and shall be binding upon the successors and assigns of Company. VestCo shall not be entitled to assign any of VestCo's rights or obligations under this Agreement.
 
14.2 Severability. In the event any provision of this Agreement is found to be unenforceable by an arbitrator or court of competent jurisdiction, such provision shall be deemed modified to the extent necessary to allow enforceability of the provision as so limited, it being intended that the parties shall receive the benefit contemplated herein to the fullest extent permitted by law. If a deemed modification is not satisfactory in the judgment of such arbitrator or court, the unenforceable provision shall be deemed deleted, and the validity and enforceability of the remaining provisions shall not be affected thereby.
 
14.3 Interpretation; Construction. The headings set forth in this Agreement are for convenience only and shall not be used in interpreting this Agreement. 
 
14.4 Governing Law. This Agreement will be governed by and construed in accordance with the laws of the State of Florida. Each party consents to the jurisdiction and venue of the state or federal courts in Florida, if applicable, in any action, suit, or proceeding arising out of or relating to this Agreement.
 
14.5 Notices. Any notice required or permitted by this Agreement shall be in writing and shall be delivered as follows with notice deemed given as indicated: (a) by personal delivery when delivered personally; (b) by overnight courier upon written verification of receipt; (c ) by telecopy or facsimile transmission upon acknowledgment of receipt of electronic transmission; or (d) by certified or registered mail, return receipt requested, upon verification of receipt. Notice shall be sent to the addresses set forth below, or such other address as either party may specify in writing.
 
14.6 Survival. The rights and obligations contained in Sections 7 ("No Conflict of Interest"), 8 ("Confidentiality and Proprietary Rights"), 9 ("Nonsolicitation"), 12 ("Agreement to Arbitrate"), 14 ("General Provisions") and 15 ("Entire Agreement") of this Agreement shall survive any termination of expiration of the Agreement.
 
15. WAIVER. Failure to invoke any right, condition, or covenant in this Agreement by the Company shall not be deemed to imply or constitute a waiver of any rights, condition, or covenant and VestCo may not rely on such failure. 
 
16. ENTIRE AGREEMENT. This Agreement constitutes the entire agreement between the parties relating to this subject matter and supersedes all contemporaneous oral or written agreements concerning such subject matter terms This Agreement may be amended or modified only with the written consent of VestCo and the Board of Directors of Company. No oral waiver, amendment or modification will be effective under any circumstances whatsoever.
 
*** Signature Page to Follow***
 
	 
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THE PARTIES TO THIS AGREEMENT HAVE READ THE FOREGOING AGREEMENT AND FULLY UNDERSTAND EACH AND EVERY PROVISION CONTAINED HEREIN. WHEREFORE, THE PARTIES HAVE EXECUTED THIS AGREEMENT ON THE DATES SHOWN BELOW:
 
	COMPANY:
	 	VESTCO:	 
	Power Clouds, Inc.
	 	VestCo Corp.	 
	 
		 	 		 
	By:
	/s/ Roberto Forlani
	 
	By:
	/s/ Vincent Browne
	 

	Name: 
	Roberto Forlani
	 
	Name: 
	Vincent Browne
	 

	Title: 
	Chief Executive Officer
	 
	Title: 
	President
	 

	Date:	July 24, 2015 
	 	Date: 	July 24, 2015	 

 
	 
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EXHIBIT A
 
Executive’s duties include, but shall not be limited to, the following:
 
Specific Responsibility areas: PWCL
 
	 
	·	Financial Control:

  
	 
	o 	Budgets and internal reporting controls - All subsidiaries in all countries
	 
	o 	Banking relationships
	 
	o 	Cash flow and treasury management

  
	 
	n	This means I approve payments before they are made (above agreed limits) for all activities so we know where we are in cash terms

 
	 
	o 	Audit and Auditor management
	 
	o 	SEC Reports
	 
	o 	Investor & Shareholder reports
	 
	o 	Balance sheet performance
	 
	o 	Responsible for optimal capital structure

  
	 
	·	Legal & Regulatory

  
	 
	o 	Company secretarial (ensuring all filings are accurate and up-to-date)
	 
	o 	Involved with and approve contracts for vendors, plants, EPC, grid connections etc.
	 
	o 	Help negotiate vendor contracts
	 
	o 	Manage legal resources – Tali and others
	 
	o 	SEC Reports
	 
	o 	NASDAQ reports (both)

  
	 
	·	Investor Relations

  
	 
	o 	Main contact for investor community
	 
	o 	Investor roadshow management and attendance
	 
	o 	Stock trading and performance
	 
	o 	Negotiation of new investment
	 
	o 	Quarterly investor meetings and reports
	 
	o 	Business plan update and presentation

  
	 
	·	Mergers and Acquisitions:

  
	 
	o 	Seek out, negotiate and find funding for additional businesses (or existing plants etc) that will add to the Company operations.

  
World Media & Technology Corp.:
 
	 
	·	Preparation of financials and financial statements for WRMT’s SEC Filings
	 
	·	Investor relations as required.

 
 
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