Document:

Exhibit 10.4

 

INDEMNIFICATION AGREEMENT

 

THIS AGREEMENT
is entered into, effective as of ______________, 2013, between Roomlinx, Inc., a Nevada corporation (the “Company”)
and __________ (“Indemnitee”).

 

WHEREAS, it
is essential to the Company to retain and attract as executive officers the most capable persons available;

 

WHEREAS, Indemnitee
is an executive officer of the Company;

 

WHEREAS, both
the Company and Indemnitee recognize the increased risk of litigation and other claims currently being asserted against executive
officers of corporations; and

 

WHEREAS, in
recognition of Indemnitee’s need for substantial protection against personal liability in order to enhance Indemnitee’s
continued and effective service to the Company, and in order to induce Indemnitee to provide continued services to the Company
as an executive officer, the Company wishes to provide in this Agreement for the indemnification of and the advancing of expenses
to Indemnitee to the fullest extent (whether partial or complete) permitted by law and as set forth in this Agreement and for the
coverage of Indemnitee under the Company’s liability insurance policies.

 

NOW, THEREFORE,
in consideration of the above premises and of Indemnitee’s continuing to serve as an executive officer of the Company
and intending to be legally bound hereby, the parties agree as follows:

 

1.        Certain
Definitions.

 

(a)          Board:
The Board of Directors of the Company.

 

(b)          Change
in Control: A Change in Control shall be deemed to occur if:

 

(i)          any
“person,” as such term is defined in Section 3(a)(9) of the Securities Exchange Act of 1934 (the “Exchange
Act”), as modified and used in Section 13(d) and 14(d) thereof (but not including (a) the Company or any of its subsidiaries,
(b) a trustee or other fiduciary holding securities under an employee benefit plan of the Company or any of its subsidiaries, (c)
an underwriter temporarily holding securities pursuant to an offering of such securities, or (d) a corporation owned, directly
or indirectly, by the stockholders of the Company in substantially the same proportions as their ownership of stock of the Company)
(hereinafter a “Person”) is or becomes the beneficial owner, as defined in Rule 13d-3 of the Exchange Act, directly
or indirectly, of securities of the Company (not including in the securities beneficially owned by such Person any securities acquired
directly from the Company or its affiliates, excluding an acquisition resulting from the exercise of a conversion or exchange privilege
in respect of outstanding convertible or exchangeable securities) representing 50% or more of the combined voting power of the
Company’s then outstanding securities; or

 

(ii)         during
any period of two consecutive years beginning on the date hereof, individuals who at the beginning of such period constitute the
Board and any new director (other than a director designated by a Person who has entered into any agreement with the Company to
effect a transaction described in Clause (i), (iii) or (iv) of this Section) whose election by the Board or nomination
for election by the Company’s stockholders was approved by a vote of at least two-thirds of the directors then still in office
who either were directors at the beginning of the period or whose election or nomination for election was previously so approved
(each such director, a “Continuing Director”), cease for any reason to constitute a majority thereof; or

 

(iii)        the
stockholders of the Company approve a merger or consolidation of the Company with any other corporation, other than (a) a
merger or consolidation which would result in the voting securities of the Company outstanding immediately prior thereto continuing
to represent (either by remaining outstanding or by being converted into voting securities of the surviving or acquiring entity),
in combination with the ownership of any trustee or other fiduciary holding securities under an employee benefit plan of the Company,
at least 50% of the combined voting power of the voting securities of the Company or such surviving or acquiring entity outstanding
immediately after such merger or consolidation, or (b) a merger or consolidation effected to implement a recapitalization
of the Company (or similar transaction) in which no Person acquires more than 50% of the combined voting power of the Company’s
then outstanding securities; or

 

    	 

    	 

    

 

(iv)         the
stockholders of the Company approve a plan of complete liquidation of the Company or an agreement for the sale or disposition by
the Company of all or substantially all of the Company’s assets.

 

(c)          Disinterested
Director: A director of the Company who is not and was not a party to the Proceeding in respect of which indemnification is
sought by Indemnitee.

 

(d)          Expenses:
Any expense, including without limitation, attorneys’ fees, retainers, court costs, transcript costs, fees and expenses of
experts, including accountants and other advisors, travel expenses, duplicating costs, postage, delivery service fees, filing fees,
and all other disbursements or expenses of the types typically paid or incurred in connection with investigating, defending, being
a witness in, or participating (including on appeal), or preparing for any of the foregoing, in any Proceeding relating to any
Indemnifiable Event, and any expenses of establishing a right to indemnification under any of Sections 2, 4 or 5 of this Agreement,
in each case, to the extent actually and reasonably incurred.

 

(e)          Indemnifiable
Costs: Any cost that is eligible for indemnification pursuant to applicable law, including, without limitation, any and all
Expenses, liability or loss, judgments, fines and amounts paid in settlement and any interest, assessments, or other charges imposed
thereon, and any federal, state, local, or foreign taxes imposed as a result of the actual or deemed receipt of any payments under
this Agreement.

 

(f)          Indemnifiable
Event: Any event or occurrence that takes place either prior to or after the execution of this Agreement, related to the fact
that Indemnitee is or was a director of the Company, or while a director is or was serving at the request of the Company as a director
or officer of another corporation, partnership, joint venture, trust or other enterprise or related to anything done or not done
by Indemnitee in any such capacity, whether or not the basis of the Proceeding is alleged action in an official capacity as a director
of the Company, or in any other capacity, as described above.

 

(g)          Independent
Counsel: means a law firm, or a member of a law firm, that is experienced in matters of corporation law and neither presently
is, nor in the past three years has been, retained to represent: (i) the Company or any of its subsidiaries or affiliates,
(ii) the Indemnitee or (iii) any other party to the Proceeding giving rise to a claim for indemnification or Expense
Advances hereunder, in any matter (other than with respect to matters relating to indemnification and advancement of expenses).
No law firm or lawyer shall qualify to serve as Independent Counsel if that person would, under the applicable standards of professional
conduct then prevailing, have a conflict of interest in representing either the Company or Indemnitee in an action to determine
Indemnitee’s rights under this Agreement. The Indemnitee shall select a law firm or member of a law firm to serve as Independent
Counsel, subject to the consent of the Company, which consent shall not be unreasonably withheld. Subject to the foregoing, any
law firm or a member of a law firm in the Am Law 200 shall be presumed to qualify as Independent Counsel. In the event that the
Indemnitee and the Company are unable to agree upon the selection of the Independent Counsel, the parties shall first try to settle
the dispute by mediation under the Commercial Mediation Rules of the American Arbitration Association. Any dispute that cannot
be resolved by mediation shall be finally resolved by arbitration by the American Arbitration Association under its Commercial
Arbitration Rules. The fees for any such dispute resolution procedure shall be borne by the Company.

 

(h)          Proceeding:
Any threatened, pending, or completed action, suit or proceeding, whether civil, criminal, administrative or investigative that
relates to an Indemnifiable Event.

 

(i)          Reviewing
Party: Reviewing Party shall have the meaning ascribed to such term in Section 3.

 

    	 

    	 

    

 

2.          Agreement
to Indemnify.

 

(a)          General
Agreement regarding Indemnification. In the event Indemnitee was, is, or becomes a party to or witness or other participant
in, or is threatened to be made a party to or witness or other participant in, a Proceeding by reason of (or arising in part out
of) an Indemnifiable Event, the Company shall indemnify Indemnitee from and against Indemnifiable Costs, to the fullest extent
permitted by applicable law, as the same exists or may hereafter be amended or interpreted (but in the case of any such amendment
or interpretation, only to the extent that such amendment or interpretation permits the Company to provide broader indemnification
rights than were permitted prior thereto); provided that the Company’s commitment set forth in this Section 2(a) to indemnify
the Indemnitee shall be subject to the limitations and procedural requirements set forth in this Agreement.

 

(b)          Partial
Indemnification. If Indemnitee is entitled under any provision of this Agreement to indemnification by the Company for some
or a portion of Indemnifiable Costs, but not, however, for the total amount thereof, the Company shall nevertheless indemnify Indemnitee
for the portion thereof to which Indemnitee is entitled.

 

(c)          Advancement
of Expenses.   If so requested by Indemnitee, the Company shall advance to Indemnitee, to the fullest extent permitted by applicable
law, any and all Expenses incurred by Indemnitee (an “Expense Advance” or an “Advance”) within 10 calendar
days after the receipt by the Company of a request from Indemnitee for an Advance, whether prior to or after final disposition
of any Proceeding. Indemnitee shall, and hereby undertakes to, repay to the Company any funds advanced to Indemnitee or paid on
his or her behalf if it shall ultimately be determined that Indemnitee is not entitled to indemnification. Indemnitee shall make
any such repayment promptly following written notice of any such determination. Payment by the Company of Indemnitee’s expenses
in connection with any Proceeding in advance of the final disposition thereof shall not be deemed an admission by the Company that
it shall ultimately be determined that Indemnitee is entitled to indemnification. Any request for an Expense Advance shall be accompanied
by an itemization of the Expenses for which advancement is sought, and a reasonably detailed summary shall be provided if the Company
so requests. Advances shall be made without regard to Indemnitee’s ability to repay the Expenses. If Indemnitee has commenced
legal proceedings in a court of competent jurisdiction in the State of Nevada to secure a determination that Indemnitee should
be indemnified under applicable law, as provided in Section 4, any determination made by the Reviewing Party that Indemnitee would
not be permitted to be indemnified under applicable law shall not be binding and Indemnitee shall not be required to reimburse
the Company for any Expense Advance until a final judicial determination is made with respect thereto (as to which all rights of
appeal therefrom have been exhausted or have lapsed). Indemnitee’s obligation to reimburse the Company for Expense Advances
shall be unsecured and no interest shall be charged thereon.

 

(d)          Exception
to Obligation to Indemnify and Advance Expenses. Notwithstanding anything in this Agreement to the contrary, Indemnitee shall
not be entitled to indemnification or advancement pursuant to this Agreement in connection with any Proceeding initiated by Indemnitee
against the Company or any director or officer of the Company unless (i) the Company has joined in or the Board has consented to
the initiation of such Proceeding; or (ii) the Proceeding is one to enforce indemnification rights under this Agreement, including
Section 5.

 

3.          Reviewing
Party.

 

(a)          Definition
of Reviewing Party. Other than as contemplated by Section 3(b), the person, persons or entity who shall determine whether Indemnitee
is entitled to indemnification in the first instance (“the Reviewing Party”) shall be (i) the Board of Directors of
the Company acting by a majority vote of a quorum of Disinterested Directors or (ii) if there are no Disinterested Directors, or
if the Disinterested Directors so direct, by Independent Counsel in a written determination to the Board of Directors, a copy of
which shall be delivered to Indemnitee.

 

(b)          Reviewing
Party Following Change in Control.   After a Change in Control, the Reviewing Party shall be the Independent Counsel. With respect
to all matters arising from such a Change in Control concerning the rights of Indemnitee to indemnity payments and Expense Advances
under this Agreement or any other agreement or under applicable law or the Company’s Articles of Incorporation or Bylaws
now or hereafter in effect relating to indemnification for Indemnifiable Events, the Company shall seek legal advice only from
the Independent Counsel. Such counsel, among other things, shall render its written opinion to the Company and Indemnitee as to
whether and to what extent the Indemnitee should be permitted to be indemnified under applicable law. The Company agrees to pay
the reasonable fees of the Independent Counsel and to indemnify fully such counsel against any and all expenses (including attorneys’
fees), claims, liabilities, loss, and damages arising out of or relating to this Agreement or the engagement of Independent Counsel
pursuant hereto.

 

    	 

    	 

    

 

4.           Indemnification
Process and Appeal.

 

(a)          Indemnification
Payment.

 

(i)          The
determination with respect to Indemnitee’s entitlement to indemnification shall, to the extent practicable, be made by the
Reviewing Party not later than 30 calendar days after receipt by the Company of a written demand on the Company for indemnification
(which written demand shall include such documentation and information as is reasonably available to Indemnitee and is reasonably
necessary to determine whether and to what extent Indemnitee is entitled to indemnification). The Reviewing Party making the determination
with respect to Indemnitee’s entitlement to indemnification shall notify Indemnitee of such written determination no later
than two business days thereafter.

 

(ii)         Unless
the Reviewing Party has provided a written determination to the Company that Indemnitee is not entitled to indemnification under
applicable law, Indemnitee shall be entitled to indemnification of Indemnifiable Costs, and shall receive payment thereof, from
the Company in accordance with this Agreement as early as practicable, but not later than 10 business days after the Reviewing
Party has made its determination with respect to Indemnitee’s entitlement to indemnification.

 

(b)          Suit
to Enforce Rights.   If (i) no determination of entitlement to indemnification shall have been made within the time limitation
for such a determination set forth in Section 4(a)(i), (ii) payment of indemnification pursuant to Section 4(a)(ii) is not made
within the period permitted for such payment by such section, (iii) the Reviewing Party determines pursuant to Section 4(a)
that Indemnitee is not entitled to indemnification under this Agreement, or (iv) Indemnitee has not received advancement of Expenses
within the time period permitted for such advancement by Section 2(c), then Indemnitee shall have the right to enforce the indemnification
rights granted under this Agreement by commencing litigation in any court of competent jurisdiction in the State of Nevada seeking
an initial determination by the court or challenging any determination by the Reviewing Party or any aspect thereof. The Company
hereby consents to service of process and to appear in any such proceeding. Any determination by the Reviewing Party not challenged
by the Indemnitee within six months of the date of the Reviewing Party’s determination shall be binding on the Company and
Indemnitee. The remedy provided for in this Section 4 shall be in addition to any other remedies available to Indemnitee in
law or equity.

 

(c)          Defense
to Indemnification, Burden of Proof, and Presumptions.

 

(i)          
To the maximum extent permitted by applicable law in making a determination with respect to entitlement to indemnification (or
payment of Expense Advances) hereunder, the Reviewing Party shall presume that an Indemnitee is entitled to indemnification (or
payment of Expense Advances) under this Agreement, and the Company shall have the burden of proof to overcome that presumption
in connection with the making by the Reviewing Party of any determination contrary to that presumption.

 

(ii)         It
shall be a defense to any action brought by Indemnitee against the Company to enforce this Agreement that it is not permissible
under applicable law for the Company to indemnify Indemnitee for the amount claimed.

 

(iii)        For
purposes of this Agreement, the termination of any claim, action, suit, or proceeding, by judgment, order, settlement (whether
with or without court approval), conviction, or upon a plea of nolo contendere, or its equivalent, shall not create a presumption
that Indemnitee did not meet any particular standard of conduct or have any particular belief or that a court has determined that
indemnification is not permitted by applicable law.

 

5.          Indemnification
for Expenses Incurred in Enforcing Rights.   The Company shall indemnify Indemnitee against any and all Expenses to the fullest
extent permitted by law and, if requested by Indemnitee pursuant to the procedures set forth in Section 2(c), shall advance such
Expenses to Indemnitee, that are incurred by Indemnitee in connection with any claim asserted against or action brought by Indemnitee
for:

 

    	 

    	 

    

 

(a)          enforcement
of this Agreement;

 

(b)          indemnification
of Indemnifiable Costs or Expense Advances by the Company under this Agreement or any other agreement or under applicable law or
the Company’s Articles of Incorporation or Bylaws now or hereafter in effect relating to indemnification for Indemnifiable
Events; and/or

 

(c)          recovery
under directors’ and officers’ liability insurance policies maintained by the Company.

 

6.           Notification
and Defense of Proceeding.

 

(a)          Notice.
  Promptly after receipt by Indemnitee of notice of the commencement of any Proceeding, Indemnitee will, if a claim in respect thereof
is to be made against the Company under this Agreement, notify the Company of the commencement thereof. The failure to notify or
promptly notify the Company shall not relieve the Company from any liability which it may have to the Indemnitee otherwise than
under this Agreement, and shall not relieve the Company from liability hereunder except to the extent the Company has been materially
prejudiced or as further provided in Section 6(c).

 

(b)          Defense.
With respect to any Proceeding as to which Indemnitee notifies the Company of the commencement thereof, the Company will be entitled
to participate in the Proceeding at its own expense and except as otherwise provided below, to the extent the Company so wishes,
it may assume the defense thereof with counsel selected by the Company and reasonably acceptable to Indemnitee. After notice from
the Company to Indemnitee of its election to assume the defense of any Proceeding, the Company will not be liable to Indemnitee
under this Agreement or otherwise for any Expenses subsequently incurred by Indemnitee in connection with the defense of such Proceeding
other than reasonable costs of investigation or as otherwise provided below. Indemnitee shall have the right to employ separate
counsel in such Proceeding, but all Expenses related thereto incurred after notice from the Company of its assumption of the defense
shall be at Indemnitee’s expense unless: (i) the employment of counsel by Indemnitee has been authorized by the Company,
(ii) Indemnitee has reasonably determined that there may be a conflict of interest between Indemnitee and the Company in the defense
of the Proceeding, (iii) after a Change in Control, the employment of counsel by Indemnitee has been approved by the Independent
Counsel, or (iv) the Company shall not within 60 calendar days in fact have employed counsel to assume the defense of such Proceeding,
in each of which case all Expenses of the Proceeding shall be borne by the Company. If the Company has selected counsel to represent
Indemnitee and other current and former directors, officers or employees of the Company in the defense of a Proceeding, and a majority
of such persons, including Indemnitee, reasonably object to such counsel selected by the Company pursuant to the first sentence
of this Section 6(b), then such persons, including Indemnitee, shall be permitted to employ one additional counsel(s) and
local counsel of their choice and the reasonable fees and expenses of such counsel(s) shall be at the expense of the Company; provided,
however, that such counsel shall, if required by any company with which the Company obtains or maintains insurance, be approved
by such company or chosen from amongst the list of counsel approved by such company. In the event separate counsel(s) is retained
by Indemnitee and/or by a group of persons including Indemnitee pursuant to this Section 6(b), the Company shall cooperate
with such counsel(s) with respect to the defense of the Proceeding, including making documents, witnesses and other information
related to the defense available to such separate counsel(s) pursuant to joint-defense agreements or confidentiality agreements,
as appropriate. The Company shall not be entitled to assume the defense of any Proceeding (x) brought by or on behalf of the
Company, (y) as to which Indemnitee shall have made the determination provided for in clause (ii) above or (z) as
to which Independent Counsel has approved the employment of counsel by Indemnitee in accordance with clause (iii) above.

 

(c)          Settlement
of Claims.   The Company shall not be liable to indemnify Indemnitee under this Agreement or otherwise for any amounts
paid in settlement of any Proceeding effected without the Company’s written consent. The Company shall not settle any Proceeding
in any manner that would impose any monetary damages, penalty or limitation on Indemnitee without Indemnitee’s prior written
consent. Neither the Company nor the Indemnitee will unreasonably withhold their consent to any proposed settlement. The Company
shall not be liable to indemnify the Indemnitee under this Agreement with regard to any judicial award if the Company was not given
a reasonable and timely opportunity, at its expense, to participate in the defense of such action; the Company’s liability
hereunder shall not be excused if participation in the Proceeding by the Company was barred by this Agreement.

 

    	 

    	 

    

 

7.          Non-Exclusivity.
  The rights of Indemnitee hereunder shall be in addition to any other rights Indemnitee may have under the laws of the State
of Nevada, the Company’s Articles of Incorporation, Bylaws, applicable law, or otherwise. To the extent that a change in
applicable law (whether by statute or judicial decision) permits greater indemnification by agreement than would be afforded currently
under the Company’s Articles of Incorporation, Bylaws, applicable law, or this Agreement, it is the intent of the parties
that Indemnitee enjoy by this Agreement the greater benefits so afforded by such change.

 

8.          Liability
Insurance.   The Company shall use its best efforts (a) to continue to maintain in effect directors’ and officers’
insurance policies and fiduciary liability insurance policies (collectively, “D&O Insurance Policies”) with terms,
conditions, retentions and limits of liability that are at least as favorable as those contained in the Company’s D&O
Insurance Policies in effect as of the date hereof (D&O Insurance Policies containing such terms, conditions, retentions and
limits of liability, referred to herein as “Comparable D&O Insurance Policies”), and, for so long as Indemnitee
serves as a director of the Company and for a period of six (6) years thereafter, to cause Indemnitee to be covered under such
Comparable D&O Insurance Policies in accordance with their respective terms, and (b) for a period of not less than six
(6) years following the occurrence of (i) a Change in Control or (ii) the Company ceasing to operate its business as
a going concern, to maintain in effect Comparable D&O Insurance Policies, and, until the earlier of (x) such time as the
Company is no longer required to maintain such Comparable D&O Insurance Policies pursuant to this clause (b) or (y)
the sixth (6th) anniversary of Indemnitee ceasing to serve as a director of the Company, to cause Indemnitee to be covered
under such Comparable D&O Insurance Policies in accordance with their respective terms. In the event the Company, at any time
it is required to maintain Comparable D&O Insurance Policies pursuant to the foregoing sentence, is not able to obtain Comparable
D&O Insurance Policies, the Company shall be obligated to maintain D&O Insurance Policies with the best coverage then available
for the time periods provided in, and otherwise in accordance with the terms of, the foregoing sentence.

 

9.          Amendment
of this Agreement.   No supplement, modification, or amendment of this Agreement shall be binding unless executed
in writing by both of the parties hereto. No waiver of any of the provisions of this Agreement shall operate as a waiver of any
other provisions hereof (whether or not similar), nor shall such waiver constitute a continuing waiver. Except as specifically
provided herein, no failure to exercise or any delay in exercising any right or remedy hereunder shall constitute a waiver thereof.

 

10.        Subrogation.
  In the event of payment under this Agreement, the Company shall be subrogated to the extent of such payment to all of the rights
of recovery of Indemnitee, who shall execute all papers required and shall do everything that may be reasonably necessary to secure
such rights, including the execution of such documents necessary to enable the Company effectively to bring suit to enforce such
rights.

 

11.        No
Duplication or Shortfall of Payments.   The Company shall make any payment required to be made under this Agreement
to the extent, but only to the extent, Indemnitee has not otherwise actually received payment (whether under the Company’s
Articles of Incorporation, the Company’s Bylaws, any insurance policy, by law, or otherwise) of the amounts otherwise payable
hereunder.

 

12.        Binding
Effect.   This Agreement shall be binding upon and inure to the benefit of and be enforceable by the parties hereto
and their respective successors, assigns, including any direct or indirect successor by purchase, merger, consolidation, or otherwise
to all or substantially all of the business and/or assets of the Company, spouses, heirs, and personal and legal representatives.
The Company shall require and cause any successor (whether direct or indirect by purchase, merger, consolidation, or otherwise)
to all, substantially all, or a substantial part, of the business and/or assets of the Company, by written agreement in form and
substance satisfactory to Indemnitee, expressly to assume and agree to perform this Agreement in the same manner and to the same
extent that the Company would be required to perform if no such succession had taken place. This Agreement shall continue in effect
regardless of whether Indemnitee continues to serve as a director or officer of the Company or of any other enterprise at the Company’s
request.

 

    	 

    	 

    

 

13.         Severability.
  If any provision (or portion thereof) of this Agreement shall be held by a court of competent jurisdiction to be invalid, void,
or otherwise unenforceable, the remaining provisions shall remain enforceable to the fullest extent permitted by law. Furthermore,
to the fullest extent possible, the provisions of this Agreement (including, without limitation, each portion of this Agreement
containing any provision held to be invalid, void, or otherwise unenforceable that is not itself invalid, void, or unenforceable)
shall be construed so as to give effect to the intent manifested by the provision held invalid, void, or unenforceable.

 

14.         Governing
Law.   This Agreement shall be governed by and construed and enforced in accordance with the laws of the State of
Nevada applicable to contracts made and to be performed in such State without giving effect to the principles of conflicts of laws,
except to the extent that the laws of the State of Nevada are mandatorily applicable.

 

15.         Notices.
  All notices, demands, and other communications required or permitted hereunder shall be made in writing and shall be deemed to
have been duly given if delivered by hand, against receipt, transmitted by facsimile upon confirmation that such facsimile has
been received or mailed, postage prepaid, certified or registered mail, return receipt requested, and addressed

 

to the Company at:

 

Roomlinx, Inc.

11101 W 120th
Avenue, Suite 200

Broomfield, CO 80021

Attn: Michael Wasik

Fax: (303) 554-1110

 

and

 

to Indemnitee at:

 

___________________

___________________

___________________

 

Notice of change
of address shall be effective only when done in accordance with this Section. All notices complying with this Section shall be
deemed to have been received on the date of delivery or on the third business day after mailing.

 

* * *

 

    	 

    	 

    

 

IN WITNESS WHEREOF,
the parties hereto have duly executed and delivered this Agreement as of the day first written above.

 

	COMPANY:	
        ROOMLINX, INC. 
	 
	 	 	 
	 	By:  	 	 
	 	 	Name:  	Michael Wasik	 
	 	 	Title:  	Chief Executive Officer	 
	 
	INDEMNITEE: 	 	 
	 	 	 
	 	 	 
	 	Name:ex10-6.htm

EXHIBIT 10.6

 

SUBSCRIPTION AGREEMENT

IN

LUCAS ENERGY, INC.

A.           Subscription.  This Agreement has been executed by Meson Capital Partners LP, having a principal place of business at 2687 California St., San Francisco, California 94115 (the “Subscriber”) in connection with the subscription to purchase 185,185 shares of the restricted common stock (the “Common Stock”, “Shares” or “Securities”) of Lucas Energy, Inc., a Nevada corporation (the “Company”) at a price equal to $1.35 per Share (representing $0.01 above the closing price of the Company’s common stock on the NYSE MKT on July 17, 2013) or $250,000 in aggregate (the “Purchase Price”), which funds the Subscriber agrees to provide in connection with this Subscription Agreement (this “Agreement”). The offering of the Shares shall be defined herein as the “Offering”.

When the context in which words are used in this Agreement indicates that such is the intent, singular words shall include the plural, and vice versa, and masculine words shall include the feminine and neuter genders, and vice versa.  Any reference to a person shall include an individual, trust, estate, or any incorporated or unincorporated organization, including general or limited partnerships, limited liability companies, corporations, joint ventures and cooperatives, and all heirs, executors, administrators, legal representatives, successors and assigns of such person where permitted or required by the context. Captions are inserted for convenience only, are not a part of this Agreement, and shall not be used in the interpretation of this Agreement.

B.           [Intentionally Removed.]

C.           Representations and Warranties of Subscriber. Subscriber hereby represents and warrants to the Company as follows:

i)           Subscriber is an “Accredited Investor” as such term is defined under Rule 501 of the Securities Act of 1933, as amended (the “Securities Act” or the “1933 Act”) and has such knowledge and experience in financial and business matters that Subscriber is capable of evaluating the merits and risks of an investment in the Company and the suitability of the Securities as an investment for Subscriber;

ii)           The Subscriber is acquiring the Securities for its own account for long-term investment and not with a view toward resale, fractionalization or division, or distribution thereof, and it does not presently have any reason to anticipate any change in its circumstances, financial or otherwise, or particular occasion or event which would necessitate or require its sale or distribution of the Securities.  No one other than the Subscriber has any beneficial interest in said securities.  The Subscriber is purchasing the Securities for its account for the purpose of investment and not with a view to, or for sale in connection with, any distribution thereof;

Page 1 of 6

Subscription Agreement

Lucas Energy, Inc.

  

  

  

iii)           Subscriber is able to bear the economic risk of the investment in the Securities and Subscriber has sufficient net worth to sustain a loss of Subscriber’s entire investment in the Company without economic hardship if such a loss should occur;

iv)           The undersigned recognizes that the investment herein is a speculative venture and that the total amount of funds tendered to purchase Securities is placed at the risk of the business and may be completely lost.  The purchase of Securities as an investment involves special risks;

v)            Subscriber acknowledges and is aware of the following:

(1)           There are substantial restrictions on the transferability of the Securities; the Securities will not be, and investors in the Company have no right to require that the Securities be registered under the 1933 Act; there may not be any public market for the Securities; Subscriber may not be able to use the provisions of Rule 144 of the 1933 Act with respect to the resale of the Securities; and accordingly, Subscriber may have to hold the Securities indefinitely and it may not be possible for Subscriber to liquidate Subscriber’s investment in the Company. Subscriber agrees that the Securities shall not be sold, transferred, pledged or hypothecated unless such sale is exempt from registration under the 1933 Act. Subscriber also acknowledges that Subscriber shall be responsible for compliance with all conditions on transfer imposed by any blue sky or securities law administrator and for any expenses incurred by the Company for legal or accounting services in connection with reviewing a proposed transfer; and

(2)           No federal or state agency has made any finding or determination as to the fairness of the Offering of the Securities for investment or any recommendation or endorsement of the Securities;

vi)            The Subscriber has carefully considered and has, to the extent it believes such discussion is necessary, discussed with its professional, legal, tax and financial advisors, the suitability of an investment in the Securities for its particular tax and financial situation and that the Subscriber and its advisers, if such advisors were deemed necessary, have determined that the Securities are a suitable investment for it;

vii)            The Subscriber confirms and certifies that:

	
  

	
(a)

	
The Subscription hereunder is irrevocable by Subscriber, except as required by law, Subscriber is not entitled to cancel, terminate or revoke this Agreement or any agreements of Subscriber hereunder.  If Subscriber is more than one person, the obligations of Subscriber hereunder shall be joint and several and the agreements, representations, warranties and acknowledgments herein contained shall be deemed to be made by and be binding upon each such person and his or her heirs, executors, administrators, successors, legal representatives and permitted assigns.

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Subscription Agreement

Lucas Energy, Inc.

  

  

  

	
  

	
(b)

	
No federal or state agency has made any findings or determination as to the fairness of the terms of this Offering for investment purposes; or any recommendations or endorsements of the Securities.

	
  

	
(c)

	
The Offering is intended to be exempt from registration under the Securities Act by virtue of Section 4(2) of the Securities Act and the provisions of Rule 506 of Regulation D and/or Regulation S thereunder, which is in part dependent upon the truth, completeness and accuracy of the statements made by the Subscriber herein.

	
  

	
(d)

	
It is understood that in order not to jeopardize the Offering’s exempt status under Section 4(2) of the Securities Act and Regulation D or Regulation S, any transferee may, at a minimum, be required to fulfill the Subscriber suitability requirements thereunder.

	
  

	
(e)

	
No person or entity acting on behalf, or under the authority, of Subscriber is or will be entitled to any broker’s, finder’s or similar fee or commission in connection with this subscription.

	
  

	
(f)IN MAKING AN INVESTMENT DECISION, SUBSCRIBER MUST RELY ON HIS, HER, OR ITS OWN EXAMINATION OF THE COMPANY AND THE TERMS OF THE OFFERING, INCLUDING THE MERITS AND RISKS INVOLVED.  THE SHARES HAVE NOT BEEN RECOMMENDED BY ANY FEDERAL OR STATE SECURITIES COMMISSION OR REGULATORY AUTHORITY. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE.

	
  

	
(g)

	
THIS SUBSCRIPTION DOES NOT CONSTITUTE AN OFFER OR SOLICITATION IN ANY STATE OR JURISDICTION IN WHICH SUCH AN OFFER OR SOLICITATION IS NOT PERMITTED UNDER APPLICABLE LAW OR TO ANY FIRM OR INDIVIDUAL THAT DOES NOT POSSESS THE QUALIFICATIONS PRESCRIBED IN THIS SUBSCRIPTION.

D.            Indemnification. Subscriber acknowledges that Subscriber understands the meaning and legal consequences of the representations and warranties in paragraph C hereof, and Subscriber hereby agrees to indemnify and hold harmless the Company and its affiliates, partners, officers, directors, agents, attorneys, and employees from and against any and all loss, damage or liability due to or arising out of a breach of any such representations or warranties. Notwithstanding the foregoing, however, no representation, warranty, acknowledgment or agreement made herein by Subscriber shall in any manner be deemed to constitute a waiver of any rights granted to Subscriber under federal or state securities laws. The representations and warranties set forth herein shall survive the date upon which the Subscriber is admitted as a shareholder of the Company.  No representation, warranty or covenant in this Agreement contains any untrue statement of a material fact, or omits to state a material fact necessary to make the statements contained therein, in light of the circumstances under which they were or are to be made, not misleading.

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Subscription Agreement

Lucas Energy, Inc.

  

  

  

E.           Compliance with Securities Laws. Subscriber understands and agrees that a legend has been or will be placed on any certificate(s) or other document(s) evidencing the Securities in substantially the following form:

"THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 OR ANY STATE SECURITIES ACT.  THE SECURITIES HAVE BEEN ACQUIRED FOR INVESTMENT AND MAY NOT BE SOLD, TRANSFERRED, PLEDGED OR HYPOTHECATED UNLESS (I) THEY SHALL HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 AND ANY APPLICABLE STATE SECURITIES ACT, OR (II) THE CORPORATION SHALL HAVE BEEN FURNISHED WITH AN OPINION OF COUNSEL, SATISFACTORY TO COUNSEL FOR THE CORPORATION, THAT REGISTRATION IS NOT REQUIRED UNDER ANY SUCH ACTS."

F.           U.S.A. Patriot Act and Anti-Money Laundering Representations. Subscriber represents and warrants that Subscriber is not and is not acting as an agent, representative, intermediary or nominee for, a person identified on the list of blocked persons maintained by the Office of Foreign Assets Control, U.S. Department of Treasury. In addition, Subscriber is in full compliance with all applicable U.S. laws, regulations, directives, and executive orders imposing economic sanctions, embargoes, export controls or anti-money laundering requirements, including but not limited to the following laws: (1) the International Emergency Economic Powers Act, 50 U.S.C. 1701-1706; (2) the National Emergencies Act, 50 U.S.C. 1601-1651; (3) section 5 of the United Nations Participation Act of 1945, 22 U.S.C. 287c; (4) Section 321 of the Antiterrorism Act, 18 U.S.C. 2332d; (5) the Export Administration Act of 1979, as amended, 50 U.S.C. app. 2401-2420; (6) the Trading with the Enemy Act, 50 U.S.C. app. 1 et seq.; (7) the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001, Public Law 107-56; and (8) Executive Order 13224 (Blocking Property and Prohibiting Transactions with Persons Who Commit, Threaten to Commit, or Support Terrorism) of September 23, 2001.

G.           Entire Agreement.   This Subscription is the entire and fully integrated agreement of the parties regarding the subject matter hereof, and there are no oral representations, warranties, agreements, or promises pertaining to this Subscription or the Securities.

H.           Construction.  The parties acknowledge that each of them has had the benefit of legal counsel of its own choice and has been afforded an opportunity to review this Agreement with its legal counsel and that this Agreement shall be construed as if jointly drafted by the parties hereto.  All references in this Agreement as to gender shall be interpreted in the applicable gender of the parties.

I.            Purchase Payment.   The purchase price shall be paid to the Company in cash, check or via wire transfer simultaneously with the undersigned’s entry into this Agreement.

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Subscription Agreement

Lucas Energy, Inc.

  

  

  

J.           Construction of Terms. As used in this Agreement, the terms “herein,” “herewith,” “hereof” and “hereunder” are references to this Agreement, taken as a whole; the term “includes” or “including” shall mean “including, without limitation;” the word “or” is not exclusive; and references to a “Section,” “subsection,” “clause,” “Exhibit,” “Appendix,” “Schedule,” “Annex” or “Attachment” shall mean a Section, subsection, clause, Exhibit, Appendix, Schedule, Annex or Attachment of this Agreement, as the case may be, unless in any such case the context requires otherwise. Exhibits, Appendices, Schedules, Annexes or Attachments to any document shall be deemed incorporated by reference in such document. All references to or definitions of any agreement, instrument or other document (a) shall include all documents, instruments or agreements issued or executed in replacement thereof, and (b) except as otherwise expressly provided, shall mean such agreement, instrument or document, or replacement or predecessor thereto, as modified, amended, supplemented and restated through the date as of which such reference is made.

K.           Effect of Facsimile and Photocopied Signatures. This Agreement may be executed in several counterparts, each of which is an original.  It shall not be necessary in making proof of this Agreement or any counterpart hereof to produce or account for any of the other counterparts.  A copy of this Agreement signed by one party and (a) faxed to another party or (b) scanned and emailed to another party, shall be deemed to have been executed and delivered by the signing party as though an original.  A photocopy or PDF of this Agreement shall be effective as an original for all purposes.

L.           Severability. The holding of any provision of this Subscription Agreement to be invalid or unenforceable by a court of competent jurisdiction shall not affect any other provision of this Subscription Agreement, which shall remain in full force and effect.

M.         Further Assurances. The parties agree to execute and deliver all such further documents, agreements and instruments and take such other and further action as may be necessary or appropriate to carry out the purposes and intent of this Subscription Agreement.

N.           Governing Law. This Agreement shall be interpreted in accordance with the laws of the State of Texas.  In the event of a dispute concerning this Agreement, the parties agree that venue lies in a court of competent jurisdiction in any Texas court.

O.          Amount of Subscription. The undersigned hereby subscribes to purchase 185,185 Shares in connection with this Subscription for a total of $250,000.

This Agreement is executed (on the applicable following page) this 17th day of July, 2013.

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Subscription Agreement

Lucas Energy, Inc.

  

  

  

“PURCHASER”

Meson Capital Partners LP

2687 California St.

San Francisco, California 94115

Social Security or Taxpayer I.D. Number:  ____________________

The undersigned hereby represents, warrants and covenants that the undersigned is a general partner or managing partner of the partnership named below (“Partnership”), and has been duly authorized by the Partnership to acquire the Shares and that he has all requisite authority to acquire such Shares for the Partnership.

The undersigned represents and warrants that each of the above representations or agreements or understandings set forth herein applies to that Partnership and he is authorized by such Partnership to execute this Subscription Agreement.

Meson Capital Partners LP

/s/ Ryan J. Morris

______________________________

Ryan J. Morris

Managing Partner

ACCEPTED BY THE COMPANY this the 17th day of July, 2013.

Lucas Energy, Inc.

/s/ Anthony C. Schnur

______________________________

Anthony C. Schnur

Chief Executive Officer

 

 

 

 

Page 6 of 6

Subscription Agreement

Lucas Energy, Inc.

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