Document:

ex10-1.htm

    
      

      

    

    Exhibit 10.1

     

     

    
      THE
SECURITIES TO WHICH THIS AMENDMENT APPLIES, AND THE UNDERLYING SHARES TO WHICH
THE PROMISSORY NOTE IS CONVERTIBLE INTO, HAVE NOT BEEN REGISTERED UNDER THE
SECURITIES ACT OF 1933 AND MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED OR
HYPOTHECATED IN THE ABSENCE OF A REGISTRATION STATEMENT IN EFFECT WITH RESPECT
TO THE SECURITIES UNDER SUCH ACT OR AN OPINION OF COUNSEL SATISFACTORY TO THE
COMPANY THAT SUCH REGS1TRATION IS NOT REQUIRED OR UNLESS SOLD PURSUANT TO RULE
144 OF SUCH ACT

       

      AMENDMENT
TO

      JAYHAWK
ENERGY, INC.

      CONVERTIBLE
PROMISSORY NOTE

       

      THIS
AMENDMENT, made effective this 30thday
of July, 2009, amends and modifies that certain Convertible Promissory Note
dated July 30, 2008 in the original principal amount of .eight hundred thousand
and no/100 dollars ($800,000.00) (the "Note") payable to Starshell
Consultants Ltd. (the "Holder"). A copy of the Note is
attached hereto.

       

      Jayhawk
Energy, Inc. (the "Maker")
executed and delivered the Note in connection with the extension of a loan in
said amount on such date (the "Loan"). The Maker and Holder have
agreed to amend the terms of the Note as provided in this
Amendment.

       

      NOW,
THEREFORE, in consideration of the foregoing premises and other good and
valuable consideration, the receipt and sufficiency of which being hereby
acknowledged and affirmed,
Maker and Holder do hereby agree that the Note is hereby amended as
follows:

       

      1. By
extending the Maturity Date of the Note to July 30, 2010.

       

      2. By
providing that the interest accrued, through July 30. 2009, on the principal of
the Note (the "Interest") shall be converted,
by way of the execution of the Notice of Conversion attached hereto, into three
hundred eighty thousand (384,000) shares of restricted common stock of Maker.
Holder and Maker agree that the Interest amount accrued is ninety six thousand
and no/100 dollars ($96,000.00). The restricted common stock to which the
Interest is being converted by Holder shall be valued at zero and 25/100 dollars
($0.25) per share ("Amended  Conversion
Price").

       

      3. By
providing that in exchange for the extension of the Note Holder shall be paid a
fee of five percent (5%), or forty
thousand and no/100 dollars ($40,000.00) (the "Extension  Fee"), of the outstanding
principal amount owed on the Note. The Extension Fee shall be paid to Holder in
the form of one
hundred sixty thousand (160,000) shares of restricted common stock of
Maker which shall be valued at zero and 25/100 dollars ($0.25) per
share.

       

      With the
exception of the amendments set forth
above, and specifically the Conversion Price and
Amended Conversion Price of the Interest owed, the remainder of the terms
and conditions of the Note shall remain in effect and shall be enforceable
against the parties as provided in the Note. Any interest which shall accrue on
the Note, after the date of this Amendment, shall be convertible by Holder at
the Conversion Price as that term is defined in the Note. Copies of the
Company's
most recent 10-K and 10-Q filings with the Securities and Exchanue Commission
("SEC") are attached hereto as
Exhibits "B"' and "C" respectively.

       

      
        [signature
page to follow]

         

        
          
            
            

          

          
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          [signature
page to Convertible Promissory Note Amendment]

           

          IN
WITNESS WHEREOF, Maker and Holder have each set their hand as of the day and
year first above
written.

           

          MAKER:

           

          JAYHAWK
ENERGY, INC.

          a
Colorado corporation

           

          
            
              
                
                  
                    
                      	
                              By:
      /s/ Lindsay Gorrill

                            	 	 	
                               

                            	 
	
                              Lindsay
      Gorrill. President

                            	 	 	
                               

                            	 

                    

                  

                

              

            

          

           

          HOLDER:

           

          STARSHELL
CONSULTANTS LTD.

           

          
            
              
                
                  
                    
                      
                        
                          	
                                  By:
      /s/ Don
      Scholar

                                	 	 	
                                   

                                	 
	
                                  Print
      Name: Don Scholar

                                	 	 	
                                   

                                	 
	Title:
      Director	 	 	 	 

                        

                      

                    

                  

                

              

            

             

            
              
                
                

              

              
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    NOTICE OF
CONVERSION

     

    To
..Jayhawk Energy, Inc. (the "Company"):

     

    The
undersigned, holder of the $800,000 Convertible Note of Jayhawk Energy, Inc. as
amended, due July 30, 2010 (the "Note"), hereby agrees to convert
Ninety Six Thousand and no/100 dollars ($96,000.00) unpaid accrued interest owed
under the Note into three hundred eighty four thousand (384,000) shares of
restricted common stock of the Company and requests that the certificates for
such shares be issued in the name of, and delivered to, Starshell Consultants
Ltd., whose address is 76 Dean Street, PO Box 1117, Belize City, Belize.
Conversion should be effected as of July 30. 2009.

     

    
      
        
          
            
              
                	 	 	 	 	 
	
                        Dated: August 22,
      2009

                      	 	 	
                         

                      	 

              

            

          

        

      

    

     

    
      
        
          
            
              
                
                  
                    
                      
                        	
                                 

                              	 	 	
                                /s/
      Don Scholar

                              	 
	
                                 

                              	 	 	
                                
                                  (signature
      must conform in all respects to name of
      holder as specified on the face of the Note)

                                

                              	 
	
                                 

                              	 	 	
                                 

                              	 
	 	 	 	Address:    	 
	 	 	 	 	 
	 	 	 	
                                Starshell
      Consultants Ltd.

                              	 
	 	 	 	 	 
	 	 	 	
                                76
      Dean Street. PO Box 1117

                                Belize
      City. Belize

                              	 

                      

                    

                  

                

              

            

          

        

      

    

     

     

    3SALES DISTRIBUTION AGREEMENT

                                                     

Exhibit 10.1

                                                          SALES DISTRIBUTION AGREEMENT

This marketing and retail sales distribution agreement (the "Agreement") is made by and between Artmex SP J ("Artmex") and/or assigns (the  "Assigns") to market and  distribute  the products  listed in Attachment A hereto  (the  "Products"),   and  Designer Export, Inc  ("Designer"), collectively the "Parties", on this 24th of June, 2009.

Whereas,  Designer is a distributor of high end men’s and women’s clothing, of which a non-exclusive list is provided in Attachment A, and Artmex, and its  Assigns are in the  business of  marketing  and  distributing  items to the General Public, the Parties agree as follows:

1.              A.    Designer agrees to supply the Products and fill Artmex's written orders for Products in a timely manner, and in any event will use its best efforts to fill placed orders within a period of thirty days (30) days or less following receipt of any written order.

                    B.  Artmex or Assigns has two options to pay for Products released by Designer to Artmex under this Agreement:  by wire transfer prior to product shipment; by sending a check/money order. If Artmex decides to pay by check/money order, then Designer will apply a certain amount of days before shipping to have the check/money order cleared. 

2.

Product cost in this agreement will be determined according to Attachment A. Designer is entitled to make reasonable adjustment(s) to the price of the products; discounts can also be negotiated. Artmex will pay shipping, unless other arrangements have been made.

3.

Term.  This agreement will run in perpetuity, unless terminated by either of the Parties.

4.

Termination. Termination of this Agreement may be commenced upon thirty (30) days written Notice.  Termination  will be effective sixty days  (60) days  following  the date that  Notice  of  termination  is received  by the  non-terminating  Party.  Artmex or Assigns will  be permitted to sell,  market,  and  distributes  all Products (that have been ordered from Designer, or are in the  possession of Artmex or Assigns at termination).

5.

Nature of the Relationship.  This Agreement is non-exclusive with respect to Designer's existing and future distribution channel.  However, Designer agrees not to sell, market or distribute the Products directly to the General Public, absent effective  termination of this Agreement. The General Public includes  primarily  retail  consumers who purchase the Products  primarily  for  individual  family,  work,  or household purposes;  however,  this  restriction  shall  not  prohibit  Designer from distributing  the  Products to any third Party who may then attempt to sell,  market,  or distribute  to the Products to the General  Public. 

6.

Artmex is allowed to sell to retail stores under the following conditions: Designer needs to be informed of the retailer with full name and address to whom Artmex plans to sell. Designer will then have the right to refuse. Should Designer allow Artmex to sell to the named retailer, then Artmex will receive an exclusive right to do so. This right will be granted newly 12 months in writing by Designer and every 12 months thereafter. Designer has the right to decide not to renew the exclusive right to Artmex.

7.

 There are no set  minimum quota  requirements  for sales  under  this Agreement. Designer is obliged to assist in the completion of each sales order regardless of the quantity. Orders will be taken on a case by cases basis by Designer. 

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8.

Designer warrants that Designer's Products are not subject to any claim, demand, or  legal  action  by  any  third  party.  Designer  warrants  and guarantees  that to the best of its  knowledge  all claims made by Designer about the Products are true and correct.

9.

 All notices and other communications  required or permitted under this Agreement  shall be validly  given,  made, or served if in writing and delivered  personally or sent by registered  mail, to the other party. Address where notice is to be sent: Artmex or Assigns: 56A Lubelska St, Lubartow, Poland, 21-100; Designer: 375 N. Stephanie St, Suite 1411, Henderson, NV, USA, 89014-8909. Each party may, by notice to the other as provided herein, designate a different address.

10.

Disputes.  All disputes arising out of or under this Agreement, which cannot be settled by  agreement  of the parties  shall be submitted to Arbitration Court at the Chamber of Commerce in Warsaw,  Poland . The prevailing party in any dispute shall be reimbursed  all of its  reasonable  costs,  including reasonable attorney's fees by the other party.

11.

This Agreement and the rights and obligations of the parties herein,  shall be construed in accordance with the laws of Poland. The Parties hereby consent to the jurisdiction and venue of the courts of Poland.

12.

This Agreement may be signed by facsimile if required in as many counterparts as may be required.

Designer Export, Inc                                                                                      Artmex SP J                            

375 N. Stephanie St, Suite 1411                                                                    56A Lubelska St, 

Henderson, NV, 89014-8909, USA                                                               Lubartow, Poland, 21-100

Corp. # E0183342009-3                                                                                                                        NIP 867-205-68-44

Citibank N.A.                                                                                                 PKO BP SA

Account # 203217633, routing # 322-271-724                                              USD PL 5910201260000000200617803

SWIFT code: CITI US 33                                                                               SWIFT code: BPKOPLPW

Signatures:

/S/ Yauheni Rabok                                                                                         /S/ Tadeusz Zyla            

Yauheni Rabok                                                                                              Tadeusz Zyla            

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ATTACHMENT A

			
	ITEM

	DESCRIPTION

	PRICE

	1. Suits, Men

	Ralph Lauren, classic, three button, 2 piece set, lined, cotton, unhemmed pants, olive stripes

	$180.00

	2. Coats, Men

	Hugo Boss, hidden button front pockets, button tab at shoulders, belt, lined

	$245.00

	3. Jackets, Men

	Michael Kors, button front,  front side pockets, rainwear

	$215.00

	4. Sweaters, Men

	Nautica, pullover, v-neck, cotton, red

	$ 50.00

	 
	Joseph & Lyman, pullover, ribbed trim detail, cotton/wool

	$ 40.00

	5. Shirts, Men

	Calvin Klein, pullover, cotton/polyester, grey

	$20.00

	 
	Clairborne, button front, button cuffs, cotton, black

	$30.00

	6. Pants, Men

	Polo by Ralph Lauren, zip fly, button waist, five pockets, corduroy feel, cotton/elastane, green

	$40.00

			
	ITEM

	DESCRIPTION

	PRICE

	1. Dresses, Women

	Nine West, 2 pieces dress set, cotton/poly/other, black

	$60.00

	 
	Kay Unger, hidden side zipper, lined, gem detailing, poly/acetate, black

	$50.00

	 
	DKNY, pullover, side belt oops, removable belt, baggy fit, cotton/span/ green

	$60.00

	2. Skirts, Women

	Anne Klein, pull on, hook & bar closure, pleated detail throughout, lined, silk

	$40.00

	 
	Jones New York, two side seam pockets, silk/viscose, black

	$50.00

	3. Tops, Women

	Elie Tahari, pull on  jacket, embroidery detail throughout, cotton/silk, beige

	$60.00

	 
	Ralph Lauren, button front with French cuffs, semi sheer, silk, cream

	$40.00

	4. Pants, Women

	Ellen Tracy, Pull on. Slide clasp with zip fly. Hidden button. Two front slant pockets, cotton/spandex, mahogony

	$55.00

Agreed to and accepted as of the 24th day of June, 2009  by:

Signatures: 

/S/ Yauheni Rabok                                                                                         /S/ Tadeusz Zyla            

Yauheni Rabok                                                                                              Tadeusz Zyla            

         

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