Document:

Stock Purchase And Sale Agreement

Stock Purchase and Sale Agreement

THIS
STOCK PURCHASE AGREEMENT dated November  ___ 2007 ("Agreement"), by and
among Arte Invest Corporation, a corporation with offices located at
c/o 341 Raven Circle, in the City of Wyoming,
County of Kent, Zip Code 19934 ("Buyer"); and 

Arteinvet,
SPA, an Italian corporation with offices located at Via Di Pietra, 70 Rome
00186 ("Arteinvest"); and Diamond Financial Corporation, Ltd, a UK
corporation ("Diamond"); and

Co.Ge.S.Fin.,
Ltd., a UK corporation ("Co.Ge.S.Fin"); and Sorice Luciano, an
individual residing in Italy ("Sorice"). 

Diamond,
Co.Ge.S.Fin and Sorice are collectively referred to hereinafter as
"Shareholders" or "Sellers".

W I T N E S S E T H:

WHEREAS,
 the Shareholders own 100% of the issued and outstanding shares of capital
stock of Arteinvest (the "Arteinvest Shares");

WHEREAS, Buyer wishes to buy and the Sellers wish to sell to
Buyer, on the terms and for the consideration hereinafter provided, all of their
shares of capital stock of Arteinvest, a Company organized and existing under
the laws of Italy ("Company"), which will represent one hundred percent (100%)
of the issued and outstanding capital stock of the Company.

NOW, THEREFORE, in consideration of the promises and the
respective agreements hereinafter set forth, Buyer and Seller hereby agree as
follows:

1.

PURCHASE OF COMPANY COMMON STOCK.

1.1

Sale of Common Stock.  Upon the terms and subject to
the provisions of this Agreement, the Sellers agrees that they will sell,
convey, transfer, assign and deliver to Buyer at the Closing provided for in
Article 2, free and clear of all claims, liens, pledges, encumbrances,
mortgages, charges, security interests, options, preemptive rights or other
interests or equities whatsoever, all of the shares of duly and validly issued,
fully paid and nonassessable, common stock (collectively, "Purchased Stock") of
the Company owned by the Sellers. 

 

1.2

Consideration for Sale and Transfer of the Purchased Stock.
 Subject to the terms and conditions of this Agreement and in reliance upon
the representations, warranties and covenants of Seller herein contained, and in
full consideration of such sale, conveyance, transfer, assignment and delivery
of the Purchased Stock to Buyer, Buyer agrees to pay and deliver to the Seller a
total consideration of ten-dollars ($10.00). As additional consideration, Buyer
shall issue and exchange with Sellers______shares of the authorized common
stock of Buyer.

(the consideration in Section 1.2 is hereinafter referred to as
the "Stock Purchase Price").

2.

THE CLOSING AND PAYMENT OF STOCK PURCHASE PRICE.

2.1

Closing.  The closing ("Closing") with respect to the
acquisition of the Purchased Stock under this Agreement and all other
transactions contemplated hereby shall take place, for reference purposes at the
offices of Buyer's attorney, Cilio & Partners, PC, 405 Park Avenue, Suite
802, New York, NY 10022 or as otherwise established by Buyer; provided that,
Buyer and Sellers agree that the Closing shall be effected by exchange of signed
documents via facsimile transmission followed by delivery of original signature
by overnight delivery.  The Closing shall occur no later than November 30,
2007, unless the parties mutually agree to extend such date.  The time and
date of the Closing is hereinafter called the "Closing Date."

2.2

Payment of Stock Purchase Price.  At the Closing, the
Buyer shall deliver the Stock Purchase Price in the form of one or more
certificates representing 100% of the issued and outstanding common shares of
Arteinvest, SPA.  The shares shall be issued pursuant to a list of
shareholders to be provided by Sellers prior to the Closing Date.  

2.3

Transfer of Purchased Stock.  At the Closing, the
Sellers shall transfer to Buyer, the Purchased Stock, free and clear of all
claims, liens, pledges, encumbrances, mortgages, charges, security interests,
options, preemptive rights, restrictions or any other interests or imperfections
of title whatsoever.  Said transfer shall be effected by delivery to Buyer
of the stock certificates, duly endorsed for transfer, or an assignment separate
from certificate sufficient to transfer the Purchased Stock to Buyer.  If
Seller cannot deliver stock certificate(s) for any of the Purchased Stock
because any certificate therefor cannot be located for any reason, then Seller
shall deliver an affidavit of lost certificate and indemnity agreement (without
bond) in favor of Buyer at the Closing with respect to such shares of Purchased
Stock.

2.4

Seller’s Delivery at Closing. At Closing, Sellers shall
also deliver or cause to be delivered to the Buyer (a) the corporate records and
seals of the Company including, without limiting the generality of the
foregoing, the Company’s formation and operating documents and all minutes and
resolutions of the Company’s directors and shareholders; (b) resignations of all
of the directors and officers of the Company requested by the Buyer and releases
by all such directors and officers of the Company of all claims they have
against the Company (except to the extent they are expressly intended to survive
the Closing hereunder), conditional on the completion of the sale of the
Purchased Stock pursuant hereto; (c) copies of all documents (including, without
limitation, records, correspondence and contracts) that have not been previously
delivered before Closing and that the Buyer in its reasonable opinion considers
to be necessary or desirable for the conduct by the Buyer of any activities
related to the assets or business operations of the Company; (d) irrevocable
assignment of patents and trademarks, patent and trademarks applications, and
any other forms of intellectual property to the Company; (e) the certificates
required from Seller pursuant to Sections 7.1 and 7.2 hereof; and (f)
opinion of counsel regarding the Company in substantially the form of Exhibit B
annexed hereto.

2.6

Loss or Damage Prior to Closing. From the date of this
Agreement through Closing, the Sellers shall cause the Company to continue to
operate in the ordinary course, and to satisfy and comply with its obligations
and shall not make or initiate any actions that could result in the default of
any of Company's obligations or adversely affect the business of the Company or
the purchase and sale herein contemplated.

3.

REPRESENTATIONS AND WARRANTIES OF THE COMPANY AND
SELLERS.

Sellers hereby represents, warrant and agrees as follows:

3.1

Organization and Qualification of Company.  The
Company is duly organized, validly existing and in good standing under the laws
of Italy.  The Company has all requisite corporate power and authority to
own or lease all of its properties and assets and to conduct its business in the
manner and in the places where such properties are owned or leased or such
business is now conducted by it. The Company is duly qualified, licensed and
authorized to do business as a corporation and is in good standing in the
jurisdictions in which it conducts business, and is not required to be so
licensed, qualified or authorized to conduct its business or own its property in
any other jurisdiction.

The minute books of the Company are current and contain correct
and complete copies of the Articles of Incorporation and Bylaws of the Company,
including all amendments thereto and restatements thereof, and of all minutes of
meetings, resolutions and other actions and proceedings of its stockholders and
board of directors and all committees thereof, duly signed by the authorized
officers and directors or all the Shareholders.  The stock record book of
the Company is also current, correct and complete and reflects the issuance of
all of the outstanding shares of the Company's capital stock since the date of
its incorporation.

3.2

Authority of Company and the Sellers.  This Agreement
and each of the agreements and other documents and instruments delivered or to
be delivered to Buyer pursuant to or in contemplation of this Agreement will
constitute, when so delivered, the valid and binding obligations of such of
Sellers as are parties thereto and shall be enforceable in accordance with their
respective terms.  The execution, delivery and performance of this
Agreement and each of the agreements and other documents and instruments
delivered or to be delivered to Buyer by Sellers or the Company have been duly
authorized by all necessary action of Sellers and, with respect to Company, are
within Company's corporate powers, and will not: (a) Result in a breach of or
constitute a default or result in any right of termination or other effect
adverse to the Company under any indenture or loan or credit agreement of any of
the Sellers or the Company, or any other agreement, lease or instrument to which
any of the Sellers or the Company is a party or by which any property of the
Sellers or the Company is bound or affected; (b) result in, or require, the
creation or imposition of any mortgage, deed of trust, pledge, lien, security
interest or other charge or encumbrance or claim of any nature whatsoever on the
Purchased Stock or any property or assets now owned, leased or used by the
Company; (c) result in a violation of or default under any law, rule, or
regulation, or any order, writ, judgment, injunction, decree, determination,
award, now in effect having applicability to Sellers or the Company; (d) violate
any provisions of the Articles of Incorporation or Bylaws of the Company, or (e)
require any approval, consent or waiver of, or filing with, any entity, private
or governmental. Notwithstanding any of the foregoing or any other provision of
this Agreement, (y) the Sellers' government security clearance is personal to
Sellers, and cannot be transferred; and (z) certain government contracts may
require the consent of the other party to an actual or deemed assignment.

3.3

Capitalization.  The Purchased Stock has been duly and
validly authorized, and is duly and validly issued, fully paid and
nonassessable.  The Purchased Stock is free and clear of any and all
claims, liens, pledges, charges, encumbrances, mortgages, security interests,
options, preemptive or other rights, restrictions on transfer, or other
interests or equities or imperfections of title whatsoever.  The Purchased
Stock represents all of the outstanding equity securities of the Company, there
are no other equity securities of Company outstanding on the date hereof and
there are no existing warrants, preemptive or other rights, options, calls,
commitments, conversion privileges, or other agreements (all of the foregoing
being collectively called "Options") obligating the Company to issue any or all
of its authorized and unissued capital stock, or any security convertible into
and/or exchangeable for capital stock of the Company.    The
Purchased Stock represents one hundred percent (100%) of the issued and
outstanding capital stock of the Company, and no person has any right to acquire
the Purchased Stock or any interest therein except Buyer.  

3.4

Financial Information; Material Adverse Change.  The
financial information provided to Buyer (the "Financial Information") and
auditor selected by Buyer is true and correct in all material respects, and do
not fail to disclose any material liability of the Company.  Neither the execution nor delivery of this
Agreement nor the completion of the transactions contemplated hereby will result
in acceleration of any of the dates for payment of any of the liabilities of the
Company.  The Company has valid and legal title to all assets set
forth on the Financial Information, and such assets constitute all of the assets
necessary for the conduct of the business operations of Company in the ordinary
course.  Since the date of the Financial Information, there has been no
material adverse change in the financial condition, results of operations, or
business prospects of the Company.  

3.5 

Valid Title to Purchased Stock. The Sellers will deliver to
Buyer, valid and marketable title to the Purchased Stock at the Closing, free
and clear of any claims, liens, pledges, charges, encumbrances, mortgages,
security, interests, options, preemptive or other rights, restrictions on
transfer or other interest or equities or any other imperfections of title
whatsoever.

3.6

Conduct of the Business.  The Company is not a party
to, or subject to or bound by nor are any of its assets subject to or bound by
any agreement, oral or written, or any  judgment, law, rule, regulation,
order, writ, injunction or decree of any court or governmental or administrative
body, which prohibits or adversely affects or upon the consummation of the
transactions contemplated hereby would prohibit or adversely affect: (a) the use
of any or all of the assets and property of Company necessary for operation in
the ordinary and usual course of business; or (b) the conduct of its business
and operations, in each case, in all material respects in the same manner as
such business has been conducted by it.  All governmental licenses, consents, permits
and authorities required for the conduct in the ordinary course of the
operations of the business of the Company and the owning of its assets, have
been obtained, are validly issued and are in good standing and to the best of
Seller’s knowledge, such conduct and uses by Company are not in breach or
default of any statute, bylaw, regulation, covenant, restriction, plan, permit,
license or authority.  

3.7

Articles of Incorporation.  The Articles of
Incorporation of the Company and all amendments thereto to have been validly
adopted by the stockholders and directors of the Company and the Articles of
Incorporation, as amended, are in full force and effect and are legal, valid,
binding and enforceable in accordance with its terms.

3.8

Bylaws.  The Bylaws of the Company, and all amendments
to the Bylaws, have been validly adopted, and the Bylaws, as amended, are in
full force and effect and are legal, valid, binding and enforceable in
accordance with their terms.

3.9

Share Redemptions and Distributions. The Company is not
obligated to redeem any shares from any shareholder, and no dividends or other distributions in respect of any
equity security have been made or authorized by the Company to the Seller or
former shareholders of the Company. 

3.10

Disclosure.  To the best of Sellers' knowledge, (a) no
representation, warranty or statement contained in this Agreement or other
document furnished or to be furnished to Buyer pursuant hereto or in connection
with the transactions contemplated under this Agreement contains or will contain
any untrue statement of a material fact or omits or will omit to state a
material fact or any fact necessary to make the statements contained therein not
materially misleading; and (b) there is no fact, which materially and adversely
affects, or, in the future may materially and adversely affect, the condition of
the Company which has not been fully disclosed by Seller to Buyer.

3.11

Material Contracts.  Exhibit C hereto sets
forth a complete listing of all material contracts of the Company (the “Open
Contracts”).  Other than the Open Contracts, each of which has been entered
into by the Company in the ordinary course for the sale of inventory and the
provision of services, there is no written or oral agreement, option,
understanding or commitment or any right or privilege capable of becoming an
agreement, for the purchase from the Company of any of the assets.
  

3.12

Litigation.  Neither the Sellers nor the Company is party to
any actions, suits or other legal, administrative or arbitration proceedings or
government investigations, actual or, to the best of Sellers’ knowledge
threatened, which could reasonably be expected to result in impairment or loss
of the Sellers’ interests in the Purchased Stock or any Company assets.
 There are no claims, claims for damages, actions, causes of action, suits
or proceedings by or against the Company, or affecting any of its assets, either
to best of Sellers’ knowledge threatened or affecting the subject matter of this
purchase and sale, nor any suits or proceedings at law or equity before or by
any federal, state, municipal or other governmental department, commission,
board, bureau, agency or instrumentality, which could reasonably be expected to
adversely affect the business of the Company or the purchase and sale herein
contemplated.  

3.13

Subsidiaries.  The Company owns any shares in those
corporations or any beneficial interests in any other entities as set forth in
Exhibit D.

3.14

Brokers.  Neither Sellers nor Company has engaged or
consulted with any advisor or broker to whom Buyer will or may become obligated
to pay any consideration on or following the Closing.

3.15

Taxes.  The Company has duly and timely filed all
returns, elections, filings and reports in respect of income and other taxes
required to be filed by it by law and all such returns, elections, filings and
reports are true, complete and correct in all material respects; there are no
tax arrears, including income tax, goods and services tax, employee withholdings
or property tax nor any related interest or penalties owing to any foreign,
federal, state, territorial or municipal tax authorities; the Sellers has no
knowledge of any delinquent taxes or any actual or threatened assessment of
deficiency or additional tax or other governmental charge; there has been no tax
audit of the Company by any taxing or other authority within 24 months of the
Closing Date, the Seller has no knowledge of any such audit currently pending or
threatened and there are no tax liens on any of the assets or properties of the
Company; there are no agreements, waivers, or other arrangements with any
taxation authority providing for an extension of time with respect to the filing
of any tax return, election or payment of any tax,  governmental
 charges , penalty, interest or fine, by the Company; there are no actions,
suits, proceedings, investigations or claims now threatened or pending (to the
knowledge of the Sellers) against or affecting the Company in respect of taxes,
governmental charges, penalties, interest or fines, or any matters under
discussion with any governmental authority relating, to taxes, governmental
charges, penalties, interest or fines asserted by any such authority.

4.

REPRESENTATIONS
AND WARRANTIES BY BUYER.

As of the date hereof and as of the date of the Closing, Buyer
represents and warrants as follows:

4.1

Organization and Qualification of Buyer.  Buyer is
duly organized, validly existing and in good standing under the laws of
Delaware.  Buyer has full corporate power and authority to own or lease all
of its properties and assets and to conduct its business in the manner and in
the places where such properties are owned and leased or such business is now
conducted by it.  

4.2

Authority of Buyer.  This Agreement and each of the
agreements and other documents and instruments delivered or to be delivered by
Buyer pursuant to or in contemplation of this Agreement will constitute, when so
delivered, the valid and binding obligation of Buyer and shall be enforceable in
accordance with their respective terms.  The execution, delivery and
performance of this Agreement and each such agreement, document and instrument
has been duly authorized by all necessary corporate action of Buyer and is
within Buyer's corporate powers.  The execution, delivery and performance
of any such agreement, document or instrument by Buyer and the execution,
delivery and performance of this Agreement or any other agreement, document or
instrument by the Buyer does not and will not with the passage of time or the
giving of notice or both: 

(i)

result in a breach of or constitute a default under any indenture
or loan or credit agreement or under any agreement of the Buyer, or any other
material agreement, lease or instrument to which Buyer is a party or by which
the property of Buyer is bound or affected; 

(ii)

result in a violation of or default under any law, rule, or
regulation, or any order, writ, judgment, injunction, decree, determination,
award, indenture, material agreement, lease or instrument now in effect having
applicability to Buyer;

(iii)

 violate any provisions of the Articles of Incorporation or
Bylaws of Buyer; or 

(iv)

require any approval, consent or waiver of, or filing with, any
entity, private or governmental, which has not been obtained. 

4.3

Governmental Approvals.  All requisite consents,
authorizations, licenses, permits, orders, certificates and approvals of all
third parties and/or governmental agencies, including without limitation any
governmental agency or authority of the United States, or other jurisdiction
whose approval is necessary for Buyer to consummate the transactions
contemplated by this Agreement have been obtained.

4.4

Disclosure.  No representation or warranty in this
Article 4, and no statement contained elsewhere in this Agreement or in any
schedule, exhibit, certificate or other document furnished or to be furnished by
Buyer to Sellers pursuant hereto or in connection with the transactions
contemplated under this Agreement contains any untrue statement of a material
fact or omits or will omit to state a material fact or any fact necessary to
make the statements contained therein not materially misleading. 

4.5

Purchase for Investment.  Buyer hereby represents and
warrants to each Seller that Buyer is acquiring the Purchased Stock for its own
account, for investment, and not with a view to the distribution thereof in
violation of the Securities Act of 1933 or of the State Laws.  Buyer
understands that the Purchased Stock have not been registered under the
Securities Act of 1933 (the “Act”) or any state securities law, by reason of
their sale to the Seller in transactions exempt from registration; and, that the
Purchased Stock must be held by Buyer indefinitely unless a subsequent
disposition thereof is registered under the Act and the state securities laws or
is exempt from registration.   Buyer represents and warrants to the
Sellers that the sale of the Purchased Stock to it hereunder is exempt from
registration under the provisions of Section 4(2) of the Act. 

4.6

Capitalization.  As of the Closing Date, Sellers hold a total
of Fourteen Million Seven Hundred Eight Thousand One Hundred Fifty
(14,708,150) shares of authorized common stock (Azioni
Ordinarie) of Arteinvest, SpA and no shares authorized of preferred
stock. At closing, a total of Fourty Million (40,000,000) shares of
the issued and outstanding common shares will be validly issued, fully paid and
non-assessable, as of the Closing Date.

5.

COVENANTS OF THE SELLERS. 

The Sellers covenants and agrees as follows throughout the period
from the date hereof through and including the Closing:

5.1

Restrictions.  Sellers agree that they shall not do
any of the following (except with the prior written consent of the Buyer):

(a)

Redeem, purchase, repurchase or retire any of the capital stock of
the Company, or declare or pay any dividends or make any other payments or
distribution upon any of the capital stock of the Company; 

(b)

Make or permit any material change in or cease in whole or in
significant part its present business; 

(c)

Sell, lease, transfer or otherwise dispose of all or any material
portion of its assets including, without limitation, rights to patents, knowhow,
intellectual property or other intangible assets or cancel any debts or claims,
except sales of inventory in the ordinary course of business or immaterial
amounts of other intangible personal property not required in the business;

(d)

Make any change in the Articles of Incorporation or Bylaws of the
Company;

(e)

Make any change in the authorized or issued and outstanding
capital stock of the Company including any changes involving treasury shares;

(f)

Grant any options or rights to purchase any securities of the
Company; in addition, Seller agrees that all outstanding options and warrants to
acquire shares of Company stock shall have been exercised or cancelled prior to
Closing;

(g)

Effect any dissolution, winding up, liquidation or termination of
the business of the Company.

(h)

Enter into any transaction or fail to perform any act required by
Sellers, or cause the Company to enter into any transaction or fail to perform
any act required of Company, which could reasonably be expected to cause any
representation or warranty of Sellers set forth in Article 3 to be untrue as of
Closing. 

5.2

Notice of Breach.  To the extent Sellers obtains
actual knowledge that any of the representations or warranties contained in
Article 3 hereof would be incorrect in any material respect were those
representations or warranties made immediately after such knowledge was
obtained, Sellers shall notify Buyer in writing promptly of such fact and
exercise reasonable efforts to remedy same to the extent within Sellers'
control.

5.3

Access.  Sellers will permit Buyer, its counsel, its
auditors and its appraisers to inspect and copy all records and documents
relating to the business operations of the Company that are in the Company's and
Sellers' custody, care or control and shall have access to all places of their
business throughout all regular business hours, provided such inspections do not
unduly disrupt the conduct of business, provided, further, that Buyer shall not
contact the Company's customers or suppliers without the prior written consent
of Sellers, which consent shall not be unreasonably withheld or delayed.

5.4

Authorization from Others.  Sellers shall use
reasonable efforts to obtain all authorizations, consents and approvals of third
parties or governmental agencies that may be required to permit the consummation
of the transactions contemplated by this Agreement.

5.5

Consummation of Agreement.  Sellers shall use
reasonable efforts to satisfy all conditions to the Closing that are within
Sellers' control to the end that the transactions contemplated by this Agreement
shall be fully carried out. 

5.7

Business Intact; Relationships with Customers and
Suppliers.  Sellers shall use best efforts to keep intact the business
of the Company, to keep available its key employees and to maintain the goodwill
of its customers, distributors and suppliers and other persons having business
dealings with it.

5.8

Restrictions on Resale.  Sellers acknowledge that the shares of Buyer’s common stock issued pursuant to this Agreement
are restricted securities under the Securities Act of 1933, as amended and are
subject to restrictions upon transfer.  Currently, under Rule 144 of the
Securities Act, a non-affiliate (defined as someone who is not an officer,
director or holder of 10% or more of a company’s common stock) is allowed to
resell shares after one (1) year, if such a sale is conducted through a market
transaction.
Rule 144 is subject to
revision by the Commission. The certificates representing the Shares will
contain a restrictive legend which reads as substantially
follows:

THESE
SECURITIES HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF
1933, AS AMENDED, OR THE LAWS OF ANY STATE, AND ARE BEING ISSUED PURSUANT TO AN
EXEMPTION FROM REGISTRATION PERTAINING TO SUCH SECURITIES AND PURSUANT TO A
REPRESENTATION BY THE SECURITY HOLDER NAMED HEREIN THAT SAID SECURITIES HAVE
BEEN ACQUIRED FOR PURPOSES OF INVESTMENT AND NOT FOR PURPOSES OF DISTRIBUTION.
 THESE SECURITIES MAY NOT BE OFFERED, SOLD, TRANSFERRED, PLEDGED OR
HYPOTHECATED IN THE ABSENCE OF REGISTRATION, OR THE AVAILABILITY OF AN EXEMPTION
FROM SUCH REGISTRATION.  THE STOCK TRANSFER AGENT HAS BEEN ORDERED TO
EFFECTUATE TRANSFERS ONLY IN ACCORDANCE WITH THE ABOVE INSTRUCTIONS.

6.

COVENANTS OF SELLER AND BUYER.

6.1

Regulatory Filings.  Each of the parties hereto will
furnish to the other party hereto such necessary information and reasonable
assistance as such other party may reasonably request in connection with its
preparation of necessary filings or submissions to any governmental agency.
 Buyer and Sellers each agree to timely file any information reports,
applications or notices required to be filed in connection with the transactions
contemplated by this Agreement .

6.2

Consummation of Agreement.   Buyer shall use its
reasonable efforts to satisfy all conditions to the Closing that are within its
control to the end that the transaction contemplated by this Agreement shall be
fully carried out.

6.3

Authorization From Others.  Buyer shall use its
reasonable efforts to obtain all authorizations, consents and approvals of third
parties or governmental agencies that may be required to permit the consummation
of the transactions contemplated by this Agreement.

7.

CONDITIONS PRECEDENT TO THE OBLIGATIONS OF BUYER TO CLOSE.

The obligation of Buyer to acquire the Purchased Stock as
contemplated hereby, and to perform its other obligations hereunder to be
performed on or after the Closing, shall be subject to the fulfillment, on or
prior to the Closing Date, unless otherwise waived in writing by Buyer, of the
following conditions: 

7.1

Representations and Warranties.  The representations
and warranties of Sellers set forth in Article 3 hereof shall be true and
correct in all material respects on the Closing Date as if made on and as of
such date, and Buyer shall have received a certificate to such effect, executed
by Sellers and dated as of the Closing Date, in form satisfactory to Buyer.

7.2

Performance of Covenants.  Sellers shall have
performed all covenants and obligations contained in this Agreement to be
performed on or prior to the Closing Date and Buyer shall have received a
certificate to such effect, executed by the Sellers and dated as of the Closing
Date, in form satisfactory to Buyer. 

7.3

Threatened or Pending Proceedings. No proceedings shall
have been initiated or threatened by any governmental department, commission,
bureau, board, agency or instrumentality, foreign or domestic, or any other bona
fide third party seeking to enjoin or otherwise restrain or to obtain an award
for damages in connection with the consummation of the transactions contemplated
hereby.

7.4

Material Adverse Change.  There shall have been no
material adverse change in the financial condition, results of operations, or
business prospects of Company from July 1, 2007, through the Closing Date.
 Material adverse change shall mean any event, occurrence, condition or
other change in effect which has resulted or could reasonably expected to be
materially adverse to any of the following:  the Company, its business, its
prospects, its operations or results of operations, the condition (financial or
otherwise) of the Company or any material asset.

8.

CONDITIONS PRECEDENT TO OBLIGATIONS OF SELLERS TO CLOSE.

The obligation of Sellers to sell the Purchased Stock as
contemplated hereby, and to perform his other obligations hereunder to be
performed on or after the Closing, shall be subject to the fulfillment, on or
prior to the Closing Date, unless otherwise waived in writing by the Seller, of
the following conditions: 

8.1

Representations and Warranties.  The representations
and warranties of Buyer set forth in Article 4 hereof shall be true and correct
in all material respects on the Closing Date as if made on and as of such date,
and the Sellers shall have received a certificate to such effect, executed by
the President or any Vice President of Buyer and dated as of the Closing Date,
in form satisfactory to the Sellers. 

8.2

Performance of Covenants.  Buyer shall have performed
all of its covenants and obligations contained in this Agreement to be performed
on or prior to the Closing Date and the Seller shall have received a certificate
to such effect, executed by the President or any Vice President of the Buyer and
dated as of the Closing Date, in form satisfactory to Sellers. 

8.3

Corporate Action.  All corporate action necessary to
authorize (i) the execution, delivery and performance by Buyer of this Agreement
and any other agreements or instruments contemplated hereby to which Buyer is a
party and (ii) the consummation of the transactions and performance of its other
obligations contemplated hereby and thereby shall have been duly and validly
taken by Buyer, and the Sellers shall have been furnished with copies of all
applicable resolutions adopted by the Board of Directors of Buyer, certified by
the Secretary or Assistant Secretary of Buyer.

8.4

Threatened or Pending Proceedings.  No proceedings
shall have been initiated or threatened by any governmental department,
commission, board, bureau, agency or instrumentality, foreign or domestic, or
any other bona fide third party seeking to enjoin or otherwise restrain or to
obtain an award for damages in connection with the consummation of the
transactions contemplated hereby. 

8.5

Delivery of Certificates and Documents to Sellers. The
Buyer shall have delivered, or cause to be delivered, to the Seller certificates
as to the legal existence and good standing of Buyer issued by the State of
Delaware and/or such other appropriate official thereof. 

 

9.

TERMINATION OF AGREEMENT.

9.1

Termination.  At any time prior to the Closing Date,
this Agreement may be terminated (a) by the consent of the Buyer and Sellers,
(b) by Sellers if there has been a material misrepresentation, breach of
warranty or breach of covenant by Buyer in its representations, warranties and
covenants set forth herein, (c) by Buyer if there has been a material
misrepresentation, breach of warranty or breach of covenant by the Seller in
their representations, warranties and covenants set forth herein, (d) by the
Sellers if the conditions stated in Article 8 have not been satisfied at or
prior to the Closing Date or (e) by Buyer if the conditions stated in Article 7
have not been satisfied at or prior to the Closing Date.

9.2

Effect of Termination.  If this Agreement shall be
terminated as above provided, this Agreement shall become null and void and have
no effect all obligations of the parties hereunder shall terminate without
liability of any party to the other; provided however, that nothing in this
Section 9.2 shall prevent any party from seeking or obtaining damages or
appropriate equitable relief for the breach of any representation, warranty or
covenant made by any other party hereto. 

9.3

Right to Proceed.  Anything in this Agreement to the
contrary notwithstanding, if any of the conditions specified in Article 7 hereof
have not been satisfied at or prior to the Closing, Buyer, having otherwise
satisfied its obligations or met conditions to Closing hereunder, shall have the
right to proceed with the transactions contemplated hereby without waiving any
of its rights hereunder, and if any of the conditions specified in Article 8
hereof have not been satisfied at or prior to the Closing, the Sellers, having
otherwise satisfied their obligations or met conditions to Closing hereunder,
shall have the right to proceed with the transactions contemplated hereby
without waiving any of their rights hereunder.

9.4

Notice of Breach.  To the extent Buyer obtains
knowledge before the Closing Date that any of the representations or warranties
contained in Article 4 hereof would be incorrect in any material respect were
those representations or warranties made immediately after such knowledge was
obtained, the Buyer shall notify Sellers in writing promptly of such fact and
exercise its reasonable efforts to remedy same to the extent within Buyer's
control.  To the extent Seller obtains knowledge before the Closing Date
that any of the representations or warranties contained in Article 3 hereof
would be incorrect in any material respect were those representations or
warranties made immediately after such knowledge was obtained, the Sellers shall
notify Buyer in writing promptly of such fact and exercise its reasonable
efforts to remedy same to the extent within Seller's control.

10.

RIGHTS AND OBLIGATIONS SUBSEQUENT TO CLOSING. 

10.1

Survival of Representations and Warranties.  All
representations, warranties, covenants and obligations herein shall be deemed to
have been relied upon by the other party, and shall survive the execution and
delivery of this Agreement for a period of one (1) year from the date of
Closing, except for any covenant or obligation that, by its terms, is to be
performed subsequent to such date.

10.2

Further Assurances.  From time to time after the
Closing and without further consideration, the parties will execute and deliver,
or arrange for the execution and delivery of such other instruments of
conveyance and transfer and take such other action or arrange for such other
actions as may reasonably be requested to more effectively complete any of the
transactions provided for in this Agreement or any document annexed hereto.

11.

INDEMNIFICATION.

11.1

Indemnification by the Sellers.  The Sellers hereby
agrees to defend, indemnify and hold Buyer, the Company and their respective
officers, directors, shareholders, employees, agents, attorneys and
representatives, harmless from and against any damages, liabilities, losses and
expenses (including, without limitation, reasonable attorneys' fees) which may
be sustained or suffered by Buyer or Company arising out of, based upon, or by
reason of a material breach of any representation or warranty, or a failure to
perform any agreement or covenant made by the Seller in this Agreement.

11.2

Indemnification by the Buyer.  The Buyer hereby agrees
to defend, indemnify and hold the Sellers and his employees, agents, attorneys,
and representatives, harmless from and against any damages, liabilities, losses
and expenses (including, without limitation, reasonable attorneys' fees) which
may be sustained or suffered by the Sellers arising out of, based upon, or by
reason of a material breach of any representation or warranty, or a failure to
perform any agreement or covenant, made by the Buyer in this Agreement or in any
exhibit, schedule, certificate or financial statement delivered hereunder, or
arising out of, based upon, or by reason of any claim, action or proceeding
asserted or instituted growing out of any such materially breached
representations, warranties or covenants.

11.3 Notice; Defense of Claims.  Each party to this
Agreement shall give prompt written notice to the other party or parties to this
Agreement under each claim for indemnification hereunder specifying the amount
and nature of the claim, and of any matter which is likely to give rise to an
indemnification claim.  Each party to this Agreement has the right to
participate at its own expense in the defense of any such matter or its
settlement, or the indemnified party may direct the indemnifying party to take
over the defense of such matter so long as such defense is expeditious.
 Failure to give timely notice of a matter which may give rise to an
indemnification claim shall not affect the rights of the indemnified party to
collect such claims from the indemnifying party so long as such failure to so
notify does not materially adversely affect the indemnifying party's ability to
defend such claim against a third party.  No indemnifying party, in the
defense of any claim or litigation shall, except with the consent of an
indemnified party, which consent shall not be unreasonably withheld or delayed,
consent to entry of any judgment or enter into any settlement by which such
indemnified party is to be bound and which judgment or settlement does not
include as an unconditional term thereof the giving by the claimant or plaintiff
to such indemnified party of a release from all liability in respect to such
claim or litigation.   

12.

NONDISCLOSURE COVENANTS.

12.1

Disclosure of Information.  It is understood that the
business of Company is of a confidential nature.  Prior to the date hereof
the Company may have revealed and on or after the date hereof the Company may
reveal to the Seller confidential information concerning Company or any of
Company's affiliates or subsidiaries which, if known to competitors thereof,
would damage Company or its said affiliates or subsidiaries.  The Sellers
agree that they will not knowingly divulge or appropriate to his own use, or to
the use of any third party, any secret or confidential information or knowledge
obtained by them concerning Company or its subsidiaries or affiliates,
including, but not limited to, information pertaining to methods, processes,
designs, equipment, catalogs, customer lists and operating procedures.  The
restrictions contained in this paragraph against disclosing or using
confidential information shall not apply to information which is in the public
domain other than by reason of Seller's breach of this Agreement or to
information previously disclosed by Sellers or the Company to prospective
purchasers of the Company, which prospective purchasers have executed and
delivered nondisclosure agreements to the Company.  Sellers represents that
such confidentiality agreements are contracts between the Company and such
prospective buyers and that they provide in pertinent part for inter
alia:  a prohibition on the prospective Buyer's use or disclosure of
such confidential information, a return (except for one certain prospective
buyer) of the confidential material at the Company's request, and a prohibition
on solicitation of the Company's employees for a period of two (2) years after
the date of execution of the confidentiality agreement.

13.

MISCELLANEOUS.

13.1

Taxes.  Any taxes in the nature of sales or transfer
tax and any stock transfer tax, payable on the sale or transfer of all or any
portion of the Purchased Stock or the    consummation of any
other transaction contemplated hereby shall be paid by Sellers.

13.2

Assignability.  Neither this Agreement nor any rights
or obligations hereunder, are assignable by Sellers or the Company.  The
rights of Buyer under this Agreement are assignable in part or wholly to any
company controlled by, controlling or under common control with Buyer, and any
assignee of Buyer shall succeed to and be possessed of the rights of Buyer
hereunder to the extent of the assignment made; provided, however, that and such
assignment by Buyer shall not relieve Buyer of its obligations hereunder.
 

13.4

Section Headings.  The Section and paragraph headings
in this Agreement are for convenience of reference only and shall not be deemed
to alter or affect provisions thereof. All Exhibits and/or Schedules hereto
shall be initialed for identification or may be physically annexed hereto, but
in either event such Exhibits or Schedules shall be deemed to be a part hereof.

13.5

Waiver.  Neither the failure nor any delay on the part
of any party hereto in exercising any right, power or remedy hereunder shall
operate as a waiver thereof, or of any other right, power or remedy or preclude
any further or other exercise thereof, or the exercise of any other right, power
or remedy.

13.6

Expenses.  Buyer and Sellers shall pay the fees and
expenses of their respective accountants and legal counsel incurred in
connection with the transactions contemplated by this Agreement. Buyer
acknowledges that it has paid certain expenses for the financial statements and
for corporate legal work during the period of the negotiations for this
Agreement. Sellers acknowledges that legal fees incurred by the Sellers in
connection with this Purchase and Sale Agreement are the personal expenses of
individual Sellers. 

13.7

Notices.  Any notices required or permitted to be
given hereunder shall be given in writing and delivered in person or sent
certified mail, postage prepaid, return receipt requested, to the respective
parties at their addresses set forth above or at such other addresses as may
hereinafter be designated by such party in writing to other parties.

13.8

Governing Law.  This Agreement shall be governed by and
construed in accordance with the laws of the State of Delaware applicable to
agreements made and to be performed in that state, without regard to any of its
principles of conflicts of laws or other laws that would result in the
application of the laws of another jurisdiction. This Agreement shall be
construed and interpreted without regard to any presumption against the party
causing this Agreement to be drafted. Each of the parties unconditionally and
irrevocably consents to the exclusive jurisdiction of the courts of the State of
Delaware and the Federal district court for the Delaware with respect to any
suit, action or proceeding arising out of or relating to this Agreement or the
transactions contemplated hereby, and each of the parties hereby unconditionally
and irrevocably waives any objection to venue in any such court.

13.9

Entire Agreement.  This Agreement contains the entire
agreement between the parties hereto with respect to the transaction
contemplated herein and shall not be modified or amended except by an instrument
in writing signed by the parties hereto. 

13.10 Validity.  The invalidity or unenforceability of
any particular provision of this Agreement shall not affect any other provisions
hereof, and this Agreement shall be construed in all other respects as if such
invalid and unenforceable provisions were omitted. 

13.11 Intentionally Omitted.  

13.12 Counterparts.  This Agreement may be signed in
any number of counterparts each of which shall be deemed to be an original and
all of which together shall constitute but one and the same instrument.

IN WITNESS WHEREOF, we have set our hands and seals as of the date
first above written.

BUYER:

Arte Invest Corporation

By:  _______________________________

SELLERS:

Diamond
Financial Corporation, Ltd

By:_______________________

______________________

Sorice
Luciano

Co.Ge.S.Fin.,
Ltd.

Arteinvet,
SPA

      

By:__________________

By:___________________ 

ARTE INVEST
STOCK PURCHASE AGREEMENT - 1ex10_1.htm

    
      
        
          

          

        

        

      

      SHARE
EXCHANGE AGREEMENT

       

      THIS SHARE EXCHANGE AGREEMENT
is made effective the first day of December, 2007.

       

      BETWEEN:

       

      ECCO ENERGY, INC.

      a
corporation existing under the laws of Nevada

      having an
office at 3315 Marquart, Suite 206

      Houston,
Texas, 77027

      

      (hereinafter
referred to as “Ecco”)

      

                                    -
and -

      

      OLD JERSEY OIL VENTURES, LLC a
New Jersey Limited Liability Company, having an office at 8 Sunset Drive,
Chatham, New Jersey, 07928

      

      (hereinafter
referred to as “Old Jersey”)

      

                                     -
and -

      

      EUGENE A. NOSER, JR. an
individual residing at 8 Sunset Drive, Chatham, New Jersey, 07928

      

      (hereinafter
referred to as “EAN” or “Member”)

      

                                    -
and -

      

      WHEREAS Ecco has a total of
9,374,753 common shares issued and outstanding, 100,000 shares of Class A
preferred shares issued and outstanding and 1,000,000 shares of Class B
preferred shares issued and outstanding;

      

      AND WHEREAS on the terms and
subject to the conditions herein set forth, Ecco desires to purchase from the
Member all of the issued and outstanding OLD JERSEY Membership Interests and the
OLD JERSEY Member desires to sell all of the OLD JERSEY Membership Interests to
Ecco;

       

      AND WHEREAS prior to the
Transaction Old Jersey intends to dispose of all of its assets other than the
VTEX Debt as hereinafter defined and settle all of its liabilities;

      

       

      NOW THEREFORE THIS AGREEMENT
WITNESSES that in consideration of the premises and the respective
covenants and agreements herein contained, the parties hereto covenant and agree
as follows:

       

      ARTICLE
1

       

      INTERPRETATION

       

      
        	
                1.1  

              	
                Definitions

              

      

       

      In this
Agreement, unless otherwise defined, capitalized words and terms shall have the
following meanings:

       

      “Agreement” means this share
exchange agreement as the same may be supplemented or amended from time to
time;

       

      “Alternative Transaction” means
an amalgamation, merger, arrangement, share exchange or other business
combination involving Ecco or OLD JERSEY; any sale, lease, exchange, transfer or
other disposition of all or a material portion of the assets of Ecco or OLD
JERSEY or any takeover bid, reorganization, recapitalization, liquidation or
winding-up of or involving Ecco or OLD JERSEY (except, in each case, as may be
contemplated in this Agreement);

       

       “Business” means the business
carried on by OLD JERSEY including but not limited to the holding of the VTEX
Debt;

       

      “Business Day” means a day
which is not a Saturday, Sunday or a statutory holiday in the State of New
Jersey;

       

      “Member” means Eugene A. Noser,
Jr. in his capacity as holder of all the membership interest in Old
Jersey;

       

       “OLD JERSEY” means OLD JERSEY
OIL VENTURES, LLC;

       

       “OLD JERSEY Membership
Interests” means the issued and outstanding sharing percentages of OLD
JERSEY beneficially owned by the Member and representing an aggregate of 100% of
the issued and outstanding sharing percentages of OLD JERSEY;

       

      “Closing” means the completion
of the Transaction upon completion of the deliveries set out in Section 7.2
hereof;

       

      “Closing Date” means the date
selected by the parties to hold the Closing, provided that the Closing Date
shall be no later than January 31, 2008 or such other date as may be mutually
agreed upon;

       

       “Governmental Authority” means
any (a) multinational, federal, territorial, state, regional, municipal, local
or other government, governmental or public department, court, tribunal,
commission, board or agency, domestic or foreign, or (b) regulatory authority,
including any securities commission or stock exchange;

       

       “Membership Agreement” means
the OLD JERSEY LIMITED LIABILITY COMPANY AGREEMENT dated effective as of the
registration date of December 18, 2000.

       

      “Payment Shares” means the
600,000 Ecco Series C Convertible Preferred Shares to be issued to the Member as
described in section 2.2;

       

       “person” includes an
individual, sole proprietorship, partnership, limited partnership,
unincorporated association or organization, unincorporated syndicate, body
corporate, trust, trustee, executor, administrator, legal representative of the
Government or any agency or instrumentality thereof;

       

       “Tax Act” means the Internal
Revenue Code of the United States;

       

      “Ecco” means Ecco Energy,
Inc.;

       

      “Ecco Public Record” has the
meaning set forth in subsection 5.1(e) hereof;

       

       “Ecco Shares” means the common
shares in the capital of Ecco;

       

       “Transaction” means the
completion of the proposed acquisition by Ecco of OLD JERSEY; and

       

      “VTEX Debt” means the debt
held by Old Jersey due from VTEX Energy, Inc. in the approximate sum of
$3,000,000.

       

      
        	
                1.2  

              	
                Currency

              

      

       

      All sums
of money which are referred to in this Agreement are expressed in lawful money
of United States unless otherwise specified.

       

      
        	
                1.3  

              	
                Interpretation
      Not Affected by Headings, etc.

              

      

       

      The
division of this Agreement into articles, sections and other portions and the
insertion of headings are for convenience of reference only and shall not affect
the construction or interpretation of this Agreement.

       

      
        	
                1.4  

              	
                Number,
      etc.

              

      

       

      Unless
the subject matter or context requires the contrary, words importing the
singular number only shall include the plural and vice versa; words importing
the use of any gender shall include all genders and words importing persons
shall include natural persons, firms, trusts, partnerships, limited liability
companies and corporations.

       

      
        	
                1.5  

              	
                Date
      for Any Action

              

      

       

      In the
event that any date on which any action is required or permitted to be taken
hereunder by any person is not a Business Day, such action shall be required to
be taken on the next succeeding day which is a Business Day.

       

      
        	
                1.6  

              	
                Statutory
      References

              

      

       

      Any
reference in this Agreement to a statute includes all regulations and rules made
thereunder, all amendments to such statute in force from time to time and any
statute, regulation or rule that supplements or supersedes such statute,
regulation or rule.

       

      
        	
                1.7  

              	
                Entire
      Agreement

              

      

       

      This
Agreement, together with the documents required to be delivered pursuant to this
Agreement, constitutes the entire agreement among the parties hereto pertaining
to the subject matter hereof and supersedes all prior agreements,
understandings, negotiations, and discussions, whether oral or written, between
the parties hereto with respect to the subject matter hereof.  There
are no representations, warranties, covenants or conditions with respect to the
subject matter hereof except as contained in this Agreement and any document
delivered pursuant to this Agreement.

       

      
        	
                1.8  

              	
                Accounting
      Principles

              

      

       

      Wherever
in this Agreement reference is made to generally accepted accounting principles,
unless expressly stated otherwise, such reference shall be deemed to be the
United States generally accepted accounting principles from time to time as at
the date on which a calculation is made or required to be made in accordance
with generally accepted accounting principles.

       

      ARTICLE
2

       

      THE
TRANSACTION

       

      
        	
                2.1  

              	
                Sale
      and Purchase of OLD JERSEY Membership
Interests

              

      

       

      
        	
                2.1.1  

              	
                Subject
      to the terms and conditions hereof, the Member covenants and agrees to
      sell, assign and transfer to Ecco and Ecco covenants and agrees to
      purchase from the Member, its OLD JERSEY Membership Interest being all the
      Membership Interest of Old Jersey.

              

      

       

      
        	
                2.2  

              	
                Purchase
      Price for the OLD JERSEY Membership
Interests

              

      

       

      
        	
                2.2.1  

              	
                The
      purchase price payable by Ecco for the OLD JERSEY Membership Interests
      shall be paid and satisfied by the issuance by Ecco at the Time of Closing
      of, in aggregate, 600,000 shares of Ecco Series C Convertible Preferred
      Stock to the Member or his designee at a deemed price per share of $5.00
      per share (collectively, the “Payment
      Shares”).

              

      

       

      ARTICLE
3

       

      COVENANTS

       

      
        	
                3.1  

              	
                Mutual
      Covenants

              

      

       

      Each of
the parties hereby covenants and agrees as follows:

       

      
        	
                (a)  

              	
                to
      make available and afford such other parties reasonable access to the
      property, assets, undertakings, agreements, financial statements, reports,
      accounting records and records pertaining to Ecco and OLD
      JERSEY;

              

      

       

      
        	
                (b)  

              	
                to
      use its reasonable best efforts to satisfy (or cause the satisfaction of)
      the conditions precedent to its obligations hereunder which are reasonably
      under its control and to take, or cause to be taken, all other actions and
      to do, or cause to be done, all other things necessary, proper or
      advisable under applicable laws and regulations to complete the
      Transaction in accordance with the terms of this
      Agreement.  Without limiting the generality of the foregoing, in
      the event that any person, including without limitation, any securities
      regulatory authority, seeks to prevent, delay or hinder implementation of
      all or any portion of the Transaction or seeks to invalidate all or any
      portion of this Agreement, each of the parties shall use its reasonable
      best efforts to resist such proceedings and to lift or rescind any
      injunction or restraining order or other order or action seeking to stop
      or otherwise adversely affect the ability of the parties to complete the
      Transaction;

              

      

       

      
        	
                (c)  

              	
                to
      use its reasonable best efforts to obtain, before the Closing Date, all
      authorizations, waivers, exemptions, consents, orders and other approvals
      from domestic or foreign courts, Governmental Authorities, shareholders
      and third parties as are necessary for the consummation of the
      transactions contemplated hereby;

              

      

       

      
        	
                (d)  

              	
                to
      use its reasonable best efforts to defend or cause to be defended any
      lawsuits or other legal proceedings brought against it challenging this
      Agreement or the completion of the Transaction.  No party will
      settle or compromise any claim brought by their respective present, former
      or purported holders of any of their securities in connection with the
      transactions contemplated by this Agreement prior to the Closing Date
      without the prior written consent of each of the others, such consent not
      to be unreasonably withheld or
delayed;

              

      

       

      
        	
                (e)  

              	
                to
      not, until the earlier of the termination of this Agreement in accordance
      with Section 6.2 hereof and the
      completion of the Transaction, directly or indirectly, through any
      officer, director, employee, representative or agent, solicit, initiate,
      promote, assist or encourage any expression of interest, proposal or offer
      from, or entertain or enter into discussions or negotiations with any
      person relating to any Alternative Transaction.  Each of the
      parties agrees that it will immediately notify the other parties in
      writing upon receipt of any expression of interest, proposal or offer from
      any person relating to any Alternative Transaction and forthwith disclose
      to the other parties hereto all relevant details
      thereof.  Nothing contained herein will prevent a party
      from;

              

      

       

      
        	
                (i)  

              	
                responding
      as required by law to any unsolicited expression of interest, proposal or
      offer,

              

      

       

      
        	
                (ii)  

              	
                making
      such disclosure which, in the case of a party which is a corporation, in
      the judgment of the board of directors of such party (upon the advice of
      counsel) is required by law to the extent required to satisfy the
      fiduciary obligations of the members of such party’s board of directors;
      or

              

      

       

      
        	
                (iii)  

              	
                fulfilling
      the fiduciary duties of the members of the board of directors of such
      party to the party and its shareholders in relation to such transaction if
      to do so would, in the opinion of the board of the directors of such party
      (upon the advice of counsel), be a proper exercise of such directors’
      fiduciary duties; but nothing referred to in this proviso shall entitle a
      party to terminate this Agreement.

              

      

       

      
        	
                (f)  

              	
                to
      promptly notify each of the other parties if any of the representations
      and warranties made by it in this Agreement ceases to be true, accurate
      and complete in any material respect and of any failure to comply in any
      material respect with any of its
obligations;

              

      

       

      
        	
                (g)  

              	
                to
      co-operate with each of the other parties hereto in good faith in order to
      ensure the timely completion of the
Transaction;

              

      

       

      
        	
                (h)  

              	
                to
      use its reasonable best efforts to co-operate with each of the other
      parties hereto in connection with the performance by the other of its
      obligations under this Article III;

              

      

       

      
        	
                (i)  

              	
                that
      all press releases or other similar public written communications of any
      sort by Ecco or by OLD JERSEY relating to this Agreement or the
      Transaction and the method of release for publication thereof, will be
      provided for review and comment by OLD JERSEY or Ecco, as the case may
      be.  Each of Ecco and OLD JERSEY will deal expeditiously with a
      request for comments on such written communication provided that the party
      issuing such press release shall not be delayed if to do so would be
      contrary to its legal obligations;

              

      

       

      
        	
                (j)  

              	
                to
      indemnify and hold harmless each of the other parties hereto (and such
      other parties’ respective directors, officers and advisers) (collectively,
      the “Non-Offending
      Persons”) from and against all claims, damages, liabilities,
      actions or demands to which the Non-Offending Persons may be subject
      insofar as such claims, damages, liabilities, actions or demands arise out
      of or are based upon the information supplied by a party (other than the
      Non-Offending Persons).  Each party hereto shall obtain and hold
      the rights and benefits of this subsection in trust for and on behalf of
      such party’s directors, officers and advisers;
    and  

              

      

       

      
        	
                (k)  

              	
                to
      deliver or cause to be delivered all closing deliveries required to be
      delivered by it pursuant to this
Agreement.

              

      

       

      
        	
                3.2  

              	
                Covenants
      of Ecco

              

      

       

      Ecco
covenants and agrees with each of the other parties hereto that, until the
earlier of the Closing Date or the day upon which this Agreement is terminated
in accordance with section 6.2 herein, it will:

       

      
        	
                (a)  

              	
                in
      a timely and expeditious manner:

              

      

       

      
        	
                (i)  

              	
                file
      the designation of Series C Convertible Preferred Stock attached hereto as
      Exhibit “A” with the Secretary of State of the State of Nevada and obtain
      the approval thereof.

              

      

       

      
        	
                (b)  

              	
                forthwith
      use all commercially reasonable efforts to satisfy (or cause the
      satisfaction of) the conditions precedent to its obligations hereunder set
      forth in section 4.1 herein to the extent the same are within its
      control and to take, or cause to be taken, all other actions and to do, or
      cause to be done, all other things necessary, proper or advisable under
      all applicable laws to complete the Transaction and to validly issue the
      Payment Shares, including using its commercially reasonable efforts
      to:

              

      

       

      
        	
                (i)  

              	
                obtain
      all necessary waivers, consents and approvals required to be obtained by
      it from other parties to loan agreements, leases, licenses, agreements and
      other contracts;

              

      

       

      
        	
                (ii)  

              	
                effect
      all necessary registrations and filings and submissions of information
      requested by any regulatory authority, stock exchange or Governmental
      Authority required to be effected by it in connection with the Transaction
      and participate and appear in any proceedings of either Ecco or OLD JERSEY
      before any regulatory authority or Governmental Authority to the extent
      permitted by such authorities; and

              

      

       

      
        	
                (iii)  

              	
                fulfill
      all conditions and satisfy all provisions of this Agreement and the
      Transaction;

              

      

       

      
        	
                (c)  

              	
                subject
      to applicable laws, not take any action, refrain from taking any action,
      nor permit any action to be taken or not taken inconsistent with this
      Agreement or which would reasonably be expected to significantly impede
      the consummation of the
Transaction;

              

      

       

      
        	
                (d)  

              	
                conduct
      and operate its business and affairs only in the ordinary and usual course
      in a prudent manner and so as not to make any of its representations and
      warranties herein contained untrue and use commercially reasonable efforts
      to preserve its business organization, goodwill and material business
      relationships with other persons and for greater certainty will not
      without the prior consent of OLD
JERSEY:

              

      

       

      
        	
                (i)  

              	
                incur
      any material liability; or

              

      

       

      
        	
                (ii)  

              	
                increase
      the compensation paid, whether by way of management fees or
      otherwise,

              

      

       

      
        	
                 
      

              	
                to
      any directors, officers or employees of or consultants to
      Ecco;

              

      

       

      in each
case, and in all material respects Ecco shall conduct itself so as to keep OLD
JERSEY fully informed as to the material decisions or actions required or
required to be made with respect to the operation of its business;

       

      
        	 	
                not
      merge into or with, or amalgamate or consolidate with, or enter into any
      other corporate reorganization with, any other person or perform any act
      which would render inaccurate in any material way any of its
      representations and warranties set forth herein as if such representations
      and warranties were made at a date subsequent to such act and all
      references to the date of this Agreement were deemed to be such later
      date, except as contemplated in this Agreement, and without limiting the
      generality of the foregoing, it will
not:

              

      

       

      
        	
                (iii)  

              	
                make
      any distribution by way of dividend, distribution of property or assets,
      return of capital or otherwise to or for the benefit of its shareholders
      including, but not limited to increase or decrease its paid-up capital or
      purchase or redeem any shares;

              

      

       

      
        	
                (iv)  

              	
                increase
      or decrease its paid-up capital or purchase or redeem any
      shares;

              

      

       

      
        	
                (v)  

              	
                issue
      or enter into any new commitment to issue any of its shares or securities
      convertible into, or rights, warrants or options to acquire, any such
      shares; or

              

      

       

      
        	
                (vi)  

              	
                split
      any of the Ecco Shares;

              

      

       

      
        	
                (e)  

              	
                prepare
      and file with all applicable securities commissions or similar securities
      regulatory authorities, all such notifications and fees as to maintain its
      status as a reporting issuer not in default of any applicable securities
      laws and to permit the issuance of the Payment Shares to the
      Member;

              

      

       

      
        	
                (f)  

              	
                not
      alter or amend its articles or notice of articles as the same exist at the
      date of this Agreement, other than as required to effect the
      Transaction.

              

      

       

      
        	
                3.3  

              	
                Covenants
      of OLD JERSEY

              

      

       

      OLD
JERSEY covenants and agrees with Ecco that, until the earlier of the Closing
Date or the day upon which this Agreement is terminated in accordance with
section 6.2 herein, it will:

       

      
        	
                (a)  

              	
                except
      for non-substantive communications, furnish promptly to Ecco a copy of
      each notice, report, schedule or other document or communication
      delivered, filed or received by OLD JERSEY in connection with the
      Transaction, any filings under applicable laws and any dealings with
      regulatory or governmental authorities in connection with or in any way
      affecting the transactions contemplated
herein;

              

      

       

      
        	
                (b)  

              	
                forthwith
      use all commercially reasonable efforts to satisfy (or cause the
      satisfaction of) the conditions precedent to its obligations hereunder set
      forth in section 4.2 herein to the extent the same are within its
      control and to take, or cause to be taken, all other actions and to do, or
      cause to be done, all other things necessary, proper or advisable under
      all applicable laws to complete the Transaction, including using its
      commercially reasonable efforts to:

              

      

       

      
        	
                (i)  

              	
                obtain
      all necessary waivers, consents and approvals required to be obtained by
      it from other parties to loan agreements, leases, licenses, agreements and
      other contracts;

              

      

       

      
        	
                (ii)  

              	
                effect
      all necessary registrations and filings and submissions of information
      requested by any regulatory authority or Governmental Authority required
      to be effected by it in connection with the Transaction and participate
      and appear in any proceedings of OLD JERSEY or Ecco before any regulatory
      authority or Governmental Authority to the extent permitted by such
      authorities; and

              

      

       

      
        	
                (iii)  

              	
                fulfill
      all conditions and satisfy all provisions of this Agreement and the
      Transaction;

              

      

       

      
        	
                (c)  

              	
                subject
      to applicable laws, not take any action, refrain from taking any action,
      nor permit any action to be taken or not taken inconsistent with this
      Agreement or which would reasonably be expected to significantly impede
      the consummation of the
Transaction;

              

      

       

      
        	
                (d)  

              	
                conduct
      and operate its business and affairs only in the ordinary course
      consistent with past management practice and use commercially reasonable
      efforts to preserve its VTEX Debt, its business organization, goodwill and
      material business relationships with other persons and for greater
      certainty, it will not enter into any material transaction out of the
      usual and ordinary course of business other than those proposed, and in
      all material respects conduct itself so as to keep Ecco fully informed as
      to the material decisions or actions required or required to be made with
      respect to the operation of its business, provided that such disclosure is
      not otherwise prohibited by reason of a confidentiality obligation owed to
      a third party for which a waiver could not be
  obtained;

              

      

       

      
        	
                (e)  

              	
                not
      alter or amend its Membership Agreement, by-laws or other relevant
      constating documents as the same exist at the date of this
      Agreement;

              

      

       

      
        	
                (f)  

              	
                not
      merge into or with, or amalgamate or consolidate with, or enter into any
      other corporate reorganization with, any other person or perform any act
      which would render inaccurate in any material way any of its
      representations and warranties set forth herein as if such representations
      and warranties were made at a date subsequent to such act and all
      references to the date of this Agreement were deemed to be such later
      date, except as contemplated in this Agreement, and without limiting the
      generality of the foregoing, it will
not:

              

      

       

      
        	
                (i)  

              	
                make
      any distribution by way of dividend, distribution of property or assets,
      return of capital or otherwise to or for the benefit of its Member other
      than the distribution of all common stock of
  VTEX;

              

      

       

      
        	
                (ii)  

              	
                increase
      or decrease its paid-up capital or purchase or redeem any;
    or

              

      

       

      
        	
                (iii)  

              	
                issue
      or enter into any commitment to issue any of its Membership Interest or
      securities convertible into, or rights, warrants or options to acquire any
      such Membership Interest; and

              

      

       

      
        	
                (g)  

              	
                take
      all necessary Limited Liability Company action and proceedings to approve
      and authorize the valid and effective transfer of the OLD JERSEY
      Membership Interests to Ecco.

              

      

       

      
        	
                3.4  

              	
                Covenants
      of the Member

              

      

       

      The
Member covenants and agrees with the other parties hereto that, until the
earlier of the Closing Date or the day upon which this Agreement is terminated
in accordance with section 6.2 herein, it will:

       

      
        	
                (a)  

              	
                in
      a timely and expeditious manner, provide such information with respect to
      such Member or designee as Ecco may reasonably
  require;

              

      

       

      
        	
                (b)  

              	
                except
      for non-substantive communications, furnish promptly to the other parties
      hereto a copy of each notice, report, schedule or other document or
      communication delivered, filed or received by the Member in connection
      with the Transaction, any filings under applicable laws and any dealings
      with regulatory or governmental authorities in connection with or in any
      way affecting, the transactions contemplated
  herein;

              

      

       

      
        	
                (c)  

              	
                forthwith
      use all commercially reasonable efforts to satisfy (or cause the
      satisfaction of) the conditions precedent to its obligations hereunder set
      forth in Section 4.2 herein to the extent the same are within its control
      and to take, or cause to be taken, all other action and to do, or cause to
      be done, all other things necessary, proper or advisable under all
      applicable laws to complete the Transaction, including using its
      commercially reasonable efforts to:

              

      

       

      
        	
                (i)  

              	
                obtain
      all necessary waivers, consents and approvals required to be obtained by
      it from other parties to loan agreements, leases, licenses, agreements and
      other contracts;

              

      

       

      
        	
                (ii)  

              	
                effect
      all necessary registrations and filings and submissions of information
      requested by any regulatory or governmental authorities required to be
      effected by it in connection with the Transaction;
  and

              

      

       

      
        	
                (iii)  

              	
                fulfill
      all conditions and satisfy all provisions of this Agreement and the
      Transaction; and subject to applicable laws, not take any action, refrain
      from taking any action, nor permit any action to be taken or not taken,
      inconsistent with this Agreement or which would reasonably be expected to
      significantly impede the consummation of the
  Transaction.

              

      

       

      ARTICLE
4

       

      CONDITIONS

       

      
        	
                4.1  

              	
                Conditions
      of Ecco

              

      

       

      The
obligations of Ecco to complete the Transaction are subject to the fulfillment
of the following conditions on or before the Closing Date:

       

      
        	
                (a)  

              	
                the
      Member shall have tendered all, but not less than all, evidence of all of
      the OLD JERSEY Membership Interests, duly endorsed, but undated for
      transfer or accompanied by duly executed interest transfer
      powers;

              

      

       

      
        	
                (b)  

              	
                there
      shall be no action taken under any applicable law by any court or
      Governmental Authority that makes it illegal or restrains, enjoins or
      prohibits the Transaction, results in a judgment or assessment of damages
      relating to the Transaction that is materially adverse to Ecco or that
      would impose any condition or restriction upon Ecco (after giving effect
      to the Transaction) which would so materially adversely impact the
      economic or business benefits of the Transaction as to render inadvisable
      the consummation of the
Transaction;

              

      

       

      
        	
                (c)  

              	
                all
      consents, waivers, permits, orders and approvals of all Governmental
      Authorities or other persons, the failure of which to obtain would be
      materially adverse to Ecco shall have been
  obtained;

              

      

       

      
        	
                (d)  

              	
                the
      representations and warranties of OLD JERSEY set forth in this Agreement
      shall be true and correct in all respects as of the date hereof and as of
      the Time of Closing (as if made on and as of that time) except as affected
      by the transactions contemplated or permitted by this Agreement and except
      to the extent that any such representation is made as of a specified date,
      in which case such representation or warranty shall have been true and
      correct as of such date and an officer’s certificate of OLD JERSEY to this
      effect shall have been delivered to
Ecco;

              

      

       

      
        	
                (e)  

              	
                the
      representations and warranties of the Member set forth in this Agreement
      shall be true and correct in all respects as of the date hereof and as of
      the Time of Closing (as if made on and as of that time) and delivery of
      the documents described in subsection 7.2 shall constitute a reaffirmation
      of such representations and
warranties;

              

      

       

      
        	
                (f)  

              	
                OLD
      JERSEY shall be in compliance in all material respects with its
      obligations under this Agreement and an officer’s certificate to this
      effect shall have been delivered to
Ecco.;

              

      

       

      
        	
                (g)  

              	
                from
      the date hereof until the Closing Date, there shall not have been any
      material adverse change the VTEX Debt or the discovery of any previously
      undisclosed material fact which has or will have a material adverse effect
      on the business, operations, assets, capitalization, financial condition,
      liabilities, results or prospects of OLD JERSEY;
  and

              

      

       

      
        	
                (h)  

              	
                completion
      of the Transaction shall have occurred on or before February 15, 2008 or
      such other date as the parties hereto may
agree.

              

      

       

      The
foregoing conditions precedent are for the benefit of Ecco and may be waived by
Ecco, in whole or in part, without prejudice to Ecco’s right to rely on any
other condition in favor of Ecco.  If any of the said conditions shall
not have been satisfied or waived by Ecco on or before the date required for
their performance and provided such non-compliance did not arise from acts or
omissions of Ecco, then Ecco’s obligation to complete the Transaction shall be
at an end upon written notice to the other parties hereto.  Should
Ecco close the Transaction it will be deemed that they have waived any of the
above conditions that may not have been met.

       

      
        	
                4.2  

              	
                Conditions
      of the Member

              

      

       

      The
obligations of the Member to complete the Transaction are subject to the
fulfillment of the following conditions on or before the Closing
Date:

       

      
        	
                (a)  

              	
                all
      necessary resolutions of the directors of Ecco to approve the Transaction
      in accordance with applicable law;

              

      

       

      
        	
                (b)  

              	
                there
      shall be no action taken under any applicable law by any court or
      Governmental Authority that makes it illegal or restrains, enjoins or
      prohibits the Transaction, results in a judgment or assessment of damages
      relating to the Transaction that is materially adverse to Ecco and OLD
      JERSEY on a consolidated basis or that would impose any condition or
      restriction upon Ecco and OLD JERSEY (after giving effect to the
      Transaction) which would so materially adversely impact the economic or
      business benefits of the Transaction as to render inadvisable the
      consummation of the Transaction;

              

      

       

      
        	
                (c)  

              	
                the
      Designation of the Payment Shares shall have been approved by the Nevada
      Secretary of State;

              

      

       

      
        	
                (d)  

              	
                all
      consents, waivers, permits, orders and approvals of all Governmental
      Authorities or other persons, the failure of which to obtain would be
      materially adverse to OLD JERSEY shall have been
  obtained;

              

      

       

      
        	
                (e)  

              	
                the
      representations and warranties of Ecco set forth in this Agreement shall
      be true and correct in all respects as of the date hereof and as of the
      Time of Closing (as if made on and as of that time) except as affected by
      the transactions contemplated or permitted by this Agreement and except to
      the extent that any such representation is made as of a specified date, in
      which case such representation or warranty shall have been true and
      correct as of such date and an officer’s certificate of Ecco to this
      effect shall have been delivered to OLD JERSEY and the
    Member;

              

      

       

      
        	
                (f)  

              	
                Ecco
      shall be in compliance in all material respects with its obligations under
      this Agreement and an officer’s certificate to this effect shall have been
      delivered to OLD JERSEY and the
Member;

              

      

       

      
        	
                (g)  

              	
                from
      the date hereof until the Closing Date, there shall not have been any
      material adverse change since the date of the Ecco Financial Statements or
      the discovery of any previously undisclosed material fact which has or
      will have a material adverse effect on the business, operations, assets,
      capitalization, financial condition, liabilities, results or prospects of
      Ecco;

              

      

       

      
        	
                (i)  

              	
                Ecco
      shall have delivered to the Member certificates duly registered in the
      name of such Member evidencing the number of Payment Shares to which such
      Member is entitled pursuant to this
Agreement;

              

      

       

      
        	
                (h)  

              	
                the
      completion of the Transaction shall have occurred on or before February
      15, 2008 or such later date as the parties hereto may
    agree.

              

      

       

      
        	
                (i)  

              	
                OLD
      JERSEY, in its absolute and sole discretion, shall be satisfied with its
      due diligence review of environmental matters and Environmental
      Liabilities, as such may relate to
Ecco;

              

      

       

      The
foregoing conditions precedent are for the benefit of OLD JERSEY and the Member
and may be waived by OLD JERSEY and the Member, in whole or in part, without
prejudice to OLD JERSEY and the  Member’s right to rely on any other
condition in favor of OLD JERSEY and the Member.  If any of the said
conditions shall not have been satisfied or waived by OLD JERSEY and the Member
on or before the date required for their performance and provided such
non-compliance did not arise from acts or omissions of the Member or OLD JERSEY,
then OLD JERSEY’s and the Member’s obligations to complete the Transaction shall
be at an end upon written notice to the other parties hereto.  Should
OLD JERSEY and the Member close the Transaction it will be deemed that they have
waived any of the above conditions that may not have been met.

      

       

      
        	
                4.3  

              	
                Notice
      and Cure Provisions

              

      

       

      Each
party will give prompt notice to the other parties hereto of the occurrence, or
failure to occur, at any time from the date hereof until the Closing Date, of
any event or state of facts which occurrence or failure would or would be likely
to:

       

      
        	
                (a)  

              	
                cause
      any of the representations or warranties of any party contained herein to
      be untrue or inaccurate in any material respect on the date hereof or at
      the Closing Date; or

              

      

       

      
        	
                (b)  

              	
                result
      in the failure to comply with or satisfy any covenant, condition or
      agreement to be complied with or satisfied by any party hereunder prior to
      the Closing Date.

              

      

       

      No party
may elect not to complete the transactions contemplated hereby pursuant to the
conditions precedent contained in sections 4.1 or 4.2 or any termination right
under section 6.2 unless the party intending to rely thereon has delivered
forthwith a written notice to the other parties prior to the Time of Closing
specifying in reasonable detail all breaches of covenants, representations and
warranties or other matters which the party delivering such notice is asserting
as the basis for the non-fulfillment of the applicable condition precedent or
termination right, as the case may be.  If any such notice is
delivered, provided that a party is proceeding diligently to cure such matter
and such matter is capable of being cured, no party may terminate this Agreement
until February 15, 2008 (or such other date as the parties hereto may mutually
agree).

       

      ARTICLE
5

       

      REPRESENTATIONS
AND WARRANTIES

       

      
        	
                5.1  

              	
                Representations
      and Warranties of Ecco

              

      

       

      Ecco
represents and warrants to and in favor of each of the other parties hereto as
follows and acknowledges that such parties are relying upon same in connection
with the transactions contemplated herein:

       

      
        	
                (a)  

              	
                Ecco
      is a corporation incorporated and validly existing under the laws of
      Nevada and has the corporate power to own or lease its property, to carry
      on its business as now being conducted, to enter into this Agreement and
      to perform its obligations
hereunder;

              

      

       

      
        	
                (b)  

              	
                this
      Agreement has been, and each additional agreement or instrument to be
      delivered pursuant to this Agreement, will be duly authorized, executed
      and delivered by Ecco and each is or will be a legal, valid and binding
      obligation of Ecco, enforceable against Ecco in accordance with its
      terms;

              

      

       

      
        	
                (c)  

              	
                the
      execution and delivery of this Agreement do not and the consummation of
      the Transaction will not:

              

      

       

      
        	
                (i)  

              	
                result
      in a breach or violation of the articles or other constituting documents
      of Ecco,

              

      

       

      
        	
                (ii)  

              	
                conflict
      with, result in a breach of, constitute a default under or accelerate the
      performance required by or result in the suspension, cancellation,
      material alteration or creation of an encumbrance upon any material agreement,
      license, permit or authority to which Ecco is a party or by which Ecco is
      bound or to which any material assets or property of Ecco is subject,
      or

              

      

       

      
        	
                (iii)  

              	
                violate
      any provision of law or regulation or any judicial or administrative
      order, award, judgment or decree applicable to
  Ecco;

              

      

       

      
        	
                (d)  

              	
                the
      authorized capital of Ecco consists of a _____________________shares, of
      which as of the date hereof, 9,374,750 common shares, 100,000 Class A
      Preferred shares and 1,000,000 Class B Preferred shares (and no more) are
      issued and outstanding as fully paid and non-assessable and upon issuance
      and the Ecco Shares to be issued in connection with the acquisition of the
      Payment Shares will be validly issued as fully paid and
      non-assessable;

              

      

       

      
        	
                (e)  

              	
                Ecco
      has prepared and filed all documents required to be filed by it with the
      Securities and Exchange Commission (the “Ecco Public Record”) and such
      documents, as of the date they were filed, complied with applicable laws
      and did not fail to state a material fact required to be stated in order
      to make the statements contained therein not misleading in the light of
      the circumstances in which they were made.  No material adverse
      change has occurred in relation to Ecco that is not disclosed in the Ecco
      Public Record.  Ecco is not subject to a cease trade order and
      is not aware of any deficiencies in the filing of any documents or reports
      with any securities commission or similar authority that would cause it to
      be placed on the list of defaulting reporting companies maintained by any
      securities commission or similar
authority;

              

      

       

      
        	
                (f)  

              	
                no
      person has any agreement, option, right or privilege (whether by law,
      pre-emptive or contractual) capable of becoming an agreement, including
      convertible securities, options, warrants or convertible obligations of
      any nature, for the purchase, subscription, allotment or issuance of any
      unissued shares or other securities of Ecco, other than stock options to
      acquire __________________ common shares at a weighted average exercise
      price of $______  per
share;

              

      

       

      
        	
                (g)  

              	
                the
      Ecco Financial Statements have been prepared in accordance with generally
      accepted accounting principles applied on a basis consistent with prior
      periods, are correct and complete and present fairly the assets,
      liabilities (whether accrued, absolute, contingent or otherwise) and
      financial condition of Ecco, as at the respective date
      thereof.  There has been no material alteration in the manner of
      keeping the books, accounts or records of Ecco or in the accounting
      practices therein reflected since September 30,
  2007;

              

      

       

      
        	
                (h)  

              	
                other
      than as disclosed in the Ecco Public Record, since September 30, 2007
      there has been no material adverse change in the condition (financial or
      otherwise), assets, liabilities, operations, earnings or business of
      Ecco;

              

      

       

      
        	
                (i)  

              	
                no
      consent, approval, order or authorization of, or registration or
      declaration with, any applicable Governmental Authority with jurisdiction
      over Ecco is required to be obtained by Ecco in connection with the
      execution and delivery of this Agreement or the consummation of the
      Transaction, except for those consents, orders, authorizations,
      declarations, registrations or approvals which are contemplated by this
      Agreement or those consents, orders, authorizations, declarations,
      registrations or approvals that, if not obtained, would not prevent or
      materially delay the consummation of the Transaction or otherwise prevent
      Ecco from performing its obligations under this Agreement and could not
      reasonably be expected to have a material adverse effect on
      Ecco;

              

      

       

      
        	
                (j)  

              	
                except
      as has been disclosed in the Ecco Public Record, there is no suit, action
      or proceeding pending, or to the knowledge of Ecco, threatened against
      Ecco that, individually or in the aggregate, could reasonably be expected
      to have a material adverse effect upon Ecco, and there is no judgment,
      decree, injunction, rule or order of any Governmental Authority with
      jurisdiction over Ecco outstanding against Ecco causing, or which insofar
      as can reasonably be foreseen, in the future would cause, a material
      adverse effect on Ecco;

              

      

       

      
        	
                (k)  

              	
                except
      as disclosed in the Ecco Public Record, there is no material environmental
      liability, nor factors likely to give rise to any material environmental
      liability, affecting any of the properties of Ecco, that individually or
      in the aggregate, could reasonably be expected to have a material adverse
      effect upon Ecco;

              

      

       

      
        	
                (l)  

              	
                Ecco
      has all permits, licenses, certificates of authority, orders and approvals
      of, and has made all filings, applications and registrations with,
      applicable Governmental Authorities that are required in order to permit
      it to carry on its business as presently
  conducted;

              

      

       

      
        	
                (m)  

              	
                Ecco
      has duly filed on a timely basis all material tax returns required to be
      filed by it and has paid all taxes which are due and payable and has paid
      all assessments and reassessments, and all other taxes, governmental
      charges, penalties, interest and fines due and payable on or before the
      date hereof, and adequate provision has been made for taxes payable for
      the current period for which tax returns are not yet required to be
      filed.  There are no actions, suits, or claims asserted, or
      assessed against Ecco in respect of taxes, governmental charges or
      assessments, nor are any matters under discussion with any Governmental
      Authority relating to taxes, governmental charges or assessments asserted
      by such Governmental Authority.  Ecco has withheld from each
      payment made by it to any person and remitted to the proper tax and other
      receiving offices within the time required all income tax and other
      deductions required to be withheld from such
  payments;

              

      

       

      
        	
                (n)  

              	
                the
      business of Ecco is being conducted in all material respects in compliance
      with all applicable laws, regulations and ordinances of all authorities
      having jurisdiction, except where the failure to comply would not be
      reasonably likely, individually or in the aggregate, to have a material
      adverse effect on Ecco; Ecco has not  been notified by any
      Governmental Authority of any investigation with respect to it that is
      pending or threatened, nor has any Governmental Authority notified Ecco of
      such Governmental Authority’s intention to commence or to conduct any
      investigation that would be reasonably likely to have a material adverse
      effect on Ecco;

              

      

       

      
        	
                (o)  

              	
                no
      Alternative Transaction is currently under discussion, consideration or
      negotiation with any third party;

              

      

       

      
        	
                (p)  

              	
                the
      corporate records and minute books of Ecco are up-to-date and contain
      complete and accurate minutes of all meetings of its directors and
      shareholders and all resolutions consented to in
  writing;

              

      

       

      
        	
                (q)  

              	
                at
      the Time of Closing, Ecco will have aggregate liabilities of not more than
      $ ● (whether accrued, contingent or otherwise) other than those associated
      with concluding the Transaction;
and

              

      

       

      
        	
                (r)  

              	
                except
      as set out in this Agreement, Ecco does not own nor has any agreements of
      any nature to acquire, directly or indirectly, any shares in the capital
      of or proprietary interest in any other business
  operation.

              

      

       

      
        	
                5.2  

              	
                Representations
      and Warranties of the Member

              

      

       

      The
Member hereby represents and warrants to Ecco as follows and acknowledges that
Ecco is relying upon same in connection with the transactions contemplated
herein:

       

      
        	
                (a)  

              	
                this
      Agreement has been, and each additional agreement or instrument required
      to be delivered pursuant to this Agreement will be, duly authorized,
      executed and delivered by the Member is or will be, a legal, valid and
      binding obligation of such Member, enforceable against such Member in
      accordance with its terms;

              

      

       

      
        	
                (b)  

              	
                the
      execution and delivery of this Agreement does not and the consummation of
      the Transaction will not:

              

      

       

      
        	
                (i)  

              	
                conflict
      with, result in a breach of or constitute a default under or accelerate
      the performance required by or result in the suspension, cancellation,
      material alteration of any material agreement,
      license, permit or authority, to which the Member is a party or by which
      such Member is bound, or

              

      

       

      
        	
                (ii)  

              	
                violate
      any provision of law or regulation or any judicial or administrative
      order, award, judgment or decree applicable to such
  Member;

              

      

       

      
        	
                (c)  

              	
                such
      Member is or will be at the Time of Closing the beneficial owner of all
      the Membership Interest in OLD JERSEY, free and clear of all liens,
      charges, mortgages, security interests, pledges, demands, claims and other
      encumbrances whatsoever, except those restrictions on transfer arising
      under the Membership Agreement of OLD
JERSEY;

              

      

       

      
        	
                (d)  

              	
                no
      person has any agreement or option or any right or privilege capable of
      becoming an agreement for the purchase of such Member’s ordinary OLD
      JERSEY Membership Interest in OLD JERSEY and none of such interests are
      subject to any voting trust, shareholders agreement, voting agreement or
      other agreement with respect to the disposition or enjoyment of any rights
      of such Membership Interest, except the Membership
    Agreement;

              

      

       

      
        	
                (e)  

              	
                no
      consent, approval, order or authorization of, or registration or
      declaration with, any applicable Governmental Authority with jurisdiction
      over such Member is required to be obtained by such Member in connection
      with the execution and delivery of this Agreement or the consummation of
      the Transaction, except for those consents, orders, authorizations,
      declarations, registrations or approvals which are contemplated by this
      Agreement;

              

      

       

      
        	
                (f)  

              	
                such
      Member is acquiring the Payment Shares as principal for its own account
      and any resale of the Payment Shares will be made in compliance with the
      requirements of applicable securities legislation;
  and

              

      

       

      
        	
                (g)  

              	
                no
      Alternative Transaction is currently under discussion, consideration or
      negotiation with any third party.

              

      

       

      
        	
                5.3  

              	
                Representations
      and Warranties of OLD JERSEY

              

      

       

      OLD
JERSEY represents and warrants to and in favor of Ecco as follows and
acknowledges that Ecco is relying upon same in connection with the transactions
contemplated herein:

       

      
        	
                (a)  

              	
                OLD
      JERSEY is a Limited Liability Company validly existing under the laws of
      New Jersey and has the power to own or lease its property, to carry on its
      business as now being conducted, to enter into this Agreement and to
      perform its obligations hereunder;

              

      

       

      
        	
                (b)  

              	
                this
      Agreement has been, and each additional agreement or instrument to be
      delivered pursuant to this Agreement will be, duly authorized, executed
      and delivered by OLD JERSEY and each is or will be, a legal, valid and
      binding obligation of OLD JERSEY, enforceable against OLD JERSEY in
      accordance with its terms;

              

      

       

      
        	
                (c)  

              	
                the
      execution and delivery of this Agreement do not and the consummation of
      the Transaction will not: (i) result in a breach or violation of the
      constituting documents of OLD JERSEY; (ii) conflict with, result in a
      breach of, constitute a default under or accelerate the performance
      required by or result in the suspension, cancellation, material alteration
      or creation of an encumbrance upon any material agreement,
      license, permit or authority to which OLD JERSEY is a party to or by which
      any of them is bound or to which any material assets or property of OLD
      JERSEY is subject; or (iii) violate any provision of law or regulation or
      any judicial or administrative order, award, judgment or decree applicable
      to OLD JERSEY;

              

      

       

      
        	
                (d)  

              	
                OLD
      JERSEY’s authorized capital consists of the OLD JERSEY Membership
      Interests, of which on Closing, all are issued and outstanding as fully
      paid and non-assessable; 

              

      

       

      
        	
                (d)  

              	
                OLD
      JERSEY does not own nor has any agreements of any nature to acquire,
      directly or indirectly, any shares in the capital of or proprietary
      interest in any other business
operations;

              

      

       

      
        	
                (e)  

              	
                no
      consent, approval, order or authorization of, or registration or
      declaration with, any applicable Governmental Authority with jurisdiction
      over OLD JERSEY is required to be obtained by OLD JERSEY in connection
      with the execution and delivery of this Agreement or the consummation of
      the Transaction, except for those consents, orders, authorizations,
      declarations, registrations or approvals which are contemplated by this
      Agreement or those consents, orders, authorizations, declarations,
      registrations or approvals that, if not obtained, would not prevent or
      materially delay the consummation of the Transaction or otherwise prevent
      OLD JERSEY from performing its obligations under this Agreement and could
      not reasonably be expected to have a material adverse effect on OLD
      JERSEY;

              

      

       

      
        	
                (f)  

              	
                there
      is no suit, action or proceeding pending, or to the knowledge of OLD
      JERSEY, threatened against OLD JERSEY that, individually or in the
      aggregate, could reasonably be expected to have a material adverse effect
      upon OLD JERSEY, and there is no judgment, decree, injunction, rule or
      order of any Governmental Authority with jurisdiction over OLD JERSEY
      outstanding against OLD JERSEY causing, or which insofar as can reasonably
      be foreseen, in the future would cause, a material adverse effect on OLD
      JERSEY;

              

      

       

      
        	
                (g)  

              	
                OLD
      JERSEY has good and marketable title to its properties and other assets
      (other than property or an asset as to which OLD JERSEY is a lessee, in
      which case it has a valid leasehold interest), except for such defects in
      title that individually or in the aggregate, could not reasonably be
      expected to have a material adverse effect on OLD
  JERSEY;

              

      

       

      
        	
                (h)  

              	
                OLD
      JERSEY has all permits, licenses, certificates of authority, orders and
      approvals of, and has made all filings, applications and registrations
      with, applicable Governmental Authorities that are required in order to
      permit it to carry on its business as presently conducted, except for such
      permits, licenses, certificates, orders, filings, applications and
      registrations, the failure to have or make, individually or in the
      aggregate, have not had and could not reasonably be expected to have, a
      material adverse effect on OLD
JERSEY;

              

      

       

      
        	
                (i)  

              	
                OLD
      JERSEY has duly filed on a timely basis all material tax returns required
      to be filed by it and has paid all taxes which are due and payable and has
      paid all assessments and reassessments, and all other taxes, governmental
      charges, penalties, interest and fines due and payable on or before the
      date hereof, and adequate provision has been made for taxes payable for
      the current period for which tax returns are not yet required to be filed;
      there are no actions, suits, or claims asserted or assessed against OLD
      JERSEY in respect of taxes, governmental charges or assessments, nor are
      any matters under discussion with any Governmental Authority relating to
      taxes, governmental charges or assessments asserted by such Governmental
      Authority.  OLD JERSEY has withheld from each payment made by it
      to any person and remitted to the proper tax and other receiving offices
      within the time required all income tax and other deductions required to
      be withheld from such payments;

              

      

       

      
        	
                (j)  

              	
                the
      business of OLD JERSEY is being conducted in all material respects in
      compliance with all applicable laws, regulations and ordinances of all
      authorities having jurisdiction, except where the failure to comply would
      not be reasonably likely, individually or in the aggregate, to have a
      material adverse effect on OLD JERSEY; OLD JERSEY has not  been
      notified by any Governmental Authority of any investigation with respect
      to it that is pending or threatened, nor has any Governmental Authority
      notified OLD JERSEY of such Governmental Authority’s intention to commence
      or to conduct any investigation that would be reasonably likely to have a
      material adverse effect on OLD
JERSEY;

              

      

       

      
        	
                (k)  

              	
                the
      records and minute books of OLD JERSEY are up-to-date and contain complete
      and accurate minutes of all meetings of its directors and Member and all
      resolutions consented to in
writing;

              

      

       

      
        	
                (l)  

              	
                at
      the Time of Closing, OLD JERSEY will have no aggregate liabilities
      (whether accrued, contingent or otherwise) other than those associated
      with concluding the Transaction and will have no assets other than the
      VTEX Debt;

              

      

       

      
        	
                (m)  

              	
                no
      Alternative Transaction is currently under discussion, consideration or
      negotiation with any third party; and agreement of any kind
      whatsoever.

              

      

       

      
        	
                5.4  

              	
                Survival
      of Representations and Warranties

              

      

       

      The
representations and warranties of the parties contained in this Agreement or any
document or certificate given pursuant hereto shall survive the Closing of the
Transaction until the second anniversary of Closing.  No claim for
breach of any representation, warranty or covenant shall be valid unless the
party against whom such claim is made has been given notice thereof before the
expiry of such two-year period.

       

      ARTICLE
6

       

      AMENDMENT
AND TERMINATION

       

      
        	
                6.1  

              	
                Amendment

              

      

       

      This
Agreement may, at any time and from time to time, be amended by written
agreement of the parties hereto without further notice to or authorization by
the shareholders of Ecco, and any such amendment may, without
limitation:

       

      
        	
                (a)  

              	
                change
      the time for performance of any of the obligations or acts of the parties
      hereto;

              

      

       

      
        	
                (b)  

              	
                waive
      compliance with or modify any representations, warranties or covenants of
      the parties;

              

      

       

      
        	
                (c)  

              	
                waive
      or modify performance of any of the obligations of any of the parties
      hereto; or

              

      

       

      
        	
                (d)  

              	
                waive
      compliance with or modify any conditions precedent contained
      herein;

              

      

       

      provided
that notwithstanding the foregoing, the number of Payment Shares to be issued to
the  Member  may not be decreased without the approval of
OLD JERSEY and the Member or increased without the further approval of the
directors of Ecco.

       

      
        	
                6.2  

              	
                Termination

              

      

       

      This
Agreement may be terminated at any time by mutual consent of the
parties.  In the event of the termination of this
Agreement  it shall become void and no party shall have any liability
or further obligation to any other party, except that nothing contained in this
section 6.2 shall
relieve or have the effect of relieving any party from liability for damages
incurred or suffered by another party as a result of a breach of this Agreement
by a party acting in bad faith intended and designed to prevent the conditions
precedent set out in this Agreement from being
satisfied.  Notwithstanding the foregoing, the provisions of
subsection 3.1(i) and sections 8.2, 8.3, 8.8 and 8.9
shall survive any termination of this Agreement.

       

      
        	
                6.3  

              	
                Prior
      Agreements

              

      

       

      This
Agreement supersedes and replaces any prior agreement entered into by some or
all of the parties to this Agreement pertaining to the subject matter of this
Agreement, if applicable. Any such prior agreement shall be rendered void ab
initio and no party shall have any claim against any other party in respect of
such prior agreement.

       

      ARTICLE
7

       

      CLOSING
ARRANGEMENTS

       

      
        	
                7.1  

              	
                Time
      and Place of Closing

              

      

       

      Closing
of the Transaction shall take place at the Time of Closing on the Closing Date
at the offices of Ecco at 3315 Marquart, Suite 206, Houston, Texas,
77027.

       

      7.2           Closing
Deliveries

       

      
        	
                (a)  

              	
                At
      the Time of Closing, Ecco will deliver or cause to be
      delivered:

              

      

       

      
        	
                (i)  

              	
                share
      certificates evidencing the Payment Shares registered in the name of the
      Member or his designees as provided for in section 2.2.1
      hereof;

              

      

       

      
        	
                (ii)  

              	
                certified
      copies of the resolutions of the Board of Directors and, if required, the
      shareholders of Ecco approving the various components of the
      Transaction;

              

      

       

      
        	
                (iii)  

              	
                the
      officer’s certificates referred to in subsections 4.2 (e) and (f) hereof;
      and

              

      

       

      
        	
                (iv)  

              	
                such
      other documentation as may reasonably be necessary to facilitate the
      Closing.

              

      

       

      
        	
                (b)  

              	
                At
      the Time of Closing, OLD JERSEY will deliver or cause to be
      delivered:

              

      

       

      
        	
                (i)  

              	
                certified
      copies of the resolutions of the Member approving the Transaction and the
      matters related thereto, including the transfer of the OLD JERSEY
      Membership Interests to Ecco;

              

      

       

      
        	
                (ii)  

              	
                certificates
      in respect of the OLD JERSEY Membership Interests issued to the OLD JERSEY
      Member which will be transferred to
Ecco;

              

      

       

      
        	
                (iii)  

              	
                the
      officer’s certificates referred to in subsection 4.1 (d)
      hereof;

              

      

       

      
        	
                (iv)  

              	
                direction
      to Ecco regarding the Payment Shares to be issued to the Member or
      designees; and

              

      

       

      
        	
                (v)  

              	
                such
      other documentation as may reasonably be necessary to facilitate the
      Closing.

              

      

       

      
        	
                (c)  

              	
                At
      the Time of Closing, the Member will deliver or cause to be
      delivered:

              

      

       

      
        	
                (i)  

              	
                certificates
      evidencing the OLD JERSEY Membership Interests owned by him, duly endorsed
      for transfer to Ecco; and

              

      

       

      
        	
                (ii)  

              	
                such
      other documentation as may reasonably be necessary to facilitate the
      Closing.

              

      

       

      ARTICLE
8

       

      GENERAL

       

      
        	
                8.1  

              	
                Notices

              

      

       

      Any
notice, consent, waiver, direction or other communication required or permitted
to be given under this Agreement shall be in writing and may be given by
delivering same or sending same by facsimile transmission addressed to the party
to which the notice is to be given at its address for service
herein.  Any notice, consent, waiver, direction or other communication
aforesaid shall, if delivered, be deemed to have been given and received on the
date on which it was delivered to the address provided herein (if a Business
Day, if not, the next succeeding Business Day) and if sent by facsimile
transmission be deemed to have been given and received at the time of receipt
unless actually received after 4:00 p.m. at the point of delivery in which case
it shall be deemed to have been given and received on the next Business
Day.

       

      The
address for service of the parties shall be as follows:

       

      
        	
                (a)  

              	
                if to
    Ecco:

              

      

       

      3315
Marquart, Suite 206

      Houston,
Texas, 77027

      

      Attention:
Sam Skipper

      Facsimile:
(713) 771-5556

      Email:                      sskipper@Ecco.com

       

      (b)           if to OLD JERSEY or
Member:

       

      

      8 Sunset
Drive

      Chatham,
New Jersey, 07928

      

      Attention:
Eugene A. Noser, Jr.

      Facsimile:

      Email:

       

      
        	
                8.2  

              	
                Confidentiality

              

      

       

      Prior to
Closing and, if the Transaction is not completed, at all times thereafter, each
of the parties hereto will keep confidential and refrain from using all
information obtained by it in connection with the transactions contemplated by
this Agreement relating to any other party hereto, provided however that such
obligation shall not apply to any information which was in the public domain at
the time of its disclosure to a party or which subsequently comes into the
public domain other than as a result of a breach of such party’s obligations
under this section 8.2.

       

      
        	
                8.3  

              	
                Assignment

              

      

       

      No party
may assign this Agreement or its rights or obligations hereunder without the
prior written consent of the other parties hereto.

       

      
        	
                8.4  

              	
                Binding
      Effect

              

      

       

      This
Agreement shall be binding upon and shall enure to the benefit of the parties
hereto and their respective successors and permitted assigns.

       

      
        	
                8.5  

              	
                Waiver

              

      

       

      Any
waiver or release of any of the provisions of this Agreement, to be effective,
must be in writing executed by the party granting the same.

       

      
        	
                8.6  

              	
                Governing
      Law

              

      

       

      This
Agreement shall be governed by and construed and interpreted in accordance with
the laws of the State of New Jersey and the laws of the United States applicable
therein and is to be treated in all respects as a New Jersey
contract.

       

      
        	
                8.7  

              	
                Expenses

              

      

       

      Each of
the parties hereto shall be responsible for the expenses incurred by such party
in connection with the Transaction.

       

      
        	
                8.8  

              	
                Time
      of Essence

              

      

       

      Time is
of the essence of this Agreement and of each of its provisions.

       

      
        	
                8.9  

              	
                Public
      Announcements

              

      

       

      Each of
the parties hereto shall co-operate with the other parties in releasing
information concerning this Agreement and the transactions contemplated herein,
and shall furnish to and discuss with the other parties hereto drafts of all
press and other releases prior to publication.  No press release or
other public announcement concerning the proposed transactions contemplated by
this Agreement will be made by any party hereto without the prior consent of the
other parties, such consent not to be unreasonably withheld or delayed; provided
that nothing contained herein shall prevent any party hereto at any time from
furnishing any information to any governmental agency or regulatory authority or
to the public if so required by applicable law.

       

      
        	
                8.10  

              	
                Further
      Assurances

              

      

       

      Each
party will, upon request but without further consideration, from time to time
promptly execute and deliver all further documents and take all further action
necessary or appropriate to give effect to and perform the provisions and intent
of this Agreement and to complete the transactions contemplated
hereby.

       

      
        	
                8.11  

              	
                Counterparts
      and Facsimile Signatures

              

      

       

      This
Agreement and any amendment, supplement or restatement of this Agreement may be
executed and delivered in one or more counterparts and may be executed and
delivered by facsimile and each of which when executed and delivered shall be
deemed an original and all of which counterparts and facsimiles together shall
be deemed to constitute one and the same instrument.

       

      

      IN WITNESS WHEREOF this
Agreement has been executed by the parties hereto on the date effective December
1, 2007.

      
         

         

         

                                      

        OLD
JERSEY OIL VENTURES, LLC Per:

        Name:
EUGENE A. NOSER Title: Managing Member

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