Document:

a6382011ex10c.htm

Exhibit 10(c)

 

FIRST ADDENDUM TO PURCHASE AND SALE AGREEMENT

	
Premises:

	
2706-10 Fox Street;2900-40 Fox Street;2701 W

	
  

	
Hunting Park Ave.;2711 W. Hunting Park

	
  

	
Ave.; 2729-33 W. Hunting Park Ave.;

	
  

	
2749 W. Hunting Park Ave.; 2801 W. Hunting

	
  

	
Park Ave.; 2803 W. Hunting Park Ave.;2851-55

	
  

	
W. Hunting Park Ave, all in Philadelphia, Pa.

	
Seller:

	
Tasty Baking Company

	 	 
	Buyer:	TKMG Associates, L.P.

       

Date of Purchase and Sale Agreement (the "Agreement"): April 5, 2010

 

Date of First Addendum:                                                                            July 2, 2010

Seller and Buyer, intending to be legally bound hereby, agree to the following:

1.           Binding Amendment.  This First Addendum to Purchase and Sale Agreement shall bind the Buyer and Seller. To the extent this First Addendum is inconsistent with the Agreement this First Addendum shall control. All other terms, conditions, and provisions of the Agreement shall remain unchanged and in full force and effect to the extent not amended by this First Addendum. Capitalized terms which are not defined herein shall have the meaning set forth in the Agreement.

2.           Extension of Feasibility Period. The Agreement is hereby amended to provide that the Feasibility Period is extended to July 30, 2010. However, the date of Settlement will not be affected by this extension.

3           Deposit.  Commencing on July 7, 2010, $25,000 of the Initial Deposit shall become non refundable but still applied to the Purchase Price. Thus, if Buyer terminates the Agreement pursuant to the terms of the Feasibility Paragraph 3 of the Agreement on or after July 7, 2010 but on or before July 30, 2010, Seller shall be entitled to $25,000 of the Initial Deposit and the remaining $75,000 of the Initial Deposit shall be returned to the Buyer.

4.           Zoning.  Buyer and Seller agree that the Zoning Condition has been satisfied.

5.           Counterparts.  This First Addendum may be executed in any number of counterparts, each of which shall be deemed an original fully executed First Addendum.  

 

  

  

  

 

Telefax or Electronic signatures shall be taken as originals, and shall be followed by manually executed copies.

IN WITNESS WHEREOF, each party hereto, being authorized to do so and intending to be legally bound hereby, has duly executed and entered into this First Addendum to Purchase and Sale Agreement on the date set forth above.

 

	 	SELLER:	 
	 	 	 
	 	Tasty Baking Company	 
	 	 	 
	 	By: /s/Laurence Weilheimer	 
	 	Name: Laurence Weilheimer	 
	 	Title: Sr. Vice President	 
	 	 	 
	 	 	 
	 	BUYER:	 
	 	 	 
	 	TKMG Associates, L.P.	 
	 	By TK GP, Inc.	 
	 	 	 
	 	 	 
	 	By: /s/Richard A. Koory	 
	 	
Richard A. Koory

	 
	 	
General Counsel

	 
	 	 	 
	 	 	 
	 	GUARANTOR	 
	 	 	 
	 	Metro Development Company	 
	 	 	 
	 	By Richard A. Koory	 
	 	
Richard A. Koory

	 
	 	

General CounselExhibit 10.1

                              CONSULTING AGREEMENT

THIS AGREEMENT is dated and effective on the 3rd day of May, 2010.

BETWEEN:

               FIRST  LIBERTY  POWER  CORP.  of 114 West  Magnolia  St.,  #400 -
               Bellingham, WA 98225

               (the "Company")

AND:

               JOHN H. HOAK, with an address at Box 565, Big Horn, Wyoming 82833

               (the "Director")

WHEREAS:

A. The  Company  desires to appoint the  Director  as a member of the  Company's
Board of Directors (the  "Services") in regards to the Company's  management and
operations;

B. The  Director has agreed to serve in this  capacity  subject to the terms and
conditions of this Agreement.

     NOW THEREFORE THIS AGREEMENT  WITNESSES that in consideration of the mutual
covenants  and  promises  set  forth  herein,  and for other  good and  valuable
consideration,  the receipt and  sufficiency of which is hereby  acknowledged by
each, the parties hereto agree as follows:

                                    ARTICLE 1

                      APPOINTMENT AND AUTHORITY OF DIRECTOR

1.1  Appointment  of  Director.  The Company  hereby  appoints the Director as a
director  of the Company as  hereinafter  set forth and subject to the terms and
conditions of the Company's  Articles and Bylaws.  The Company hereby authorizes
the  Director to exercise  such powers as  provided  under this  Agreement.  The
Director accepts such appointment on the terms and conditions herein set forth.

     (a)  Performance of Services.  Director agrees to perform his duties as set
          forth herein to the best of his abilities and in foil  compliance with
          the law. The Director shall faithfully,  honestly and diligently serve
          the  Company  and  cooperate  with the  Company  and  utilize  maximum
          professional  skill and care and to act in the best  interests  of the
          Company.

1.2  Authority  of  Director.  The  Director  shall have no right or  authority,
express or implied,  to commit or  otherwise  obligate the Company in any manner
whatsoever  except to the extent  specifically  provided  herein or specifically
authorized in writing by the Company.
<PAGE>
                                       2

1.3 Independent Director.  In performing the Services,  the Director shall be an
independent  Director and not an employee or agent of the  Company,  except that
the Director shall be the agent of the Company solely in circumstances where the
Director  must be the  agent to cany out its  obligations  as set  forth in this
Agreement.  Nothing in this Agreement shall be deemed to require the Director to
provide  the  Services  exclusively  to the  Company  and  the  Director  hereby
acknowledges  that the Company is not required and shall not be required to make
any remittances and payments  required of employers by statute on the Director's
behalf and the Director or any of its agents shall not be entitled to the fringe
benefits provided by the Company to its employees.

                         ARTICLE 2 DIRECTOR'S AGREEMENTS

2.1  Expense  Statements.  The  Director  may incur  expenses in the name of the
Company  as agreed in advance in  writing  by the  Company,  provided  that such
expenses  relate solely to the carrying out of the  Services.  The Director will
immediately  forward all invoices for expenses  incurred on behalf of and in the
name of the Company and the Company  agrees to pay said  invoices  directly on a
timely basis. The Director agrees to obtain approval from the Company in writing
for any  individual  expense of $1,000 or greater  or any  aggregate  expense in
excess of $1,000  incurred in any given month by the Director in connection with
the carrying out of the Services.

2.2  Regulatory  Compliance.  The Director  agrees to comply with all applicable
securities  legislation  and  regulatory  policies in relation to providing  the
Services,  including  but not  limited  to  United  States  securities  laws (in
particular,  Regulation FD) and the policies of the United States Securities and
Exchange Commission.

2.3 Prohibition  Against Insider Trading.  The Director hereby acknowledges that
the Director is aware, and further agrees that the Director will advise those of
its  directors,   officers,   employees  and  agents  who  may  have  access  to
Confidential Information, that United States securities laws prohibit any person
who has  material,  non-public  information  about a company from  purchasing or
selling  securities of such a company or from  communicating such information to
any other person under circumstances in which it is reasonably  foreseeable that
such person is likely to purchase or sell such securities.

                         ARTICLE 3 COMPANY'S AGREEMENTS

3.1 Cash Compensation.  The cash portion of remuneration of the Director for the
Services  hereunder  shall be at the rate  US$2,500.00  per month.  All payments
pursuant to this Agreement shall be payable in advance on the first business day
of each calendar month, with the first instalment payable on the Effective Date.

3.2  Compensation  Shares.  The  compensation  for  agreeing  to enter into this
Agreement  and provide the Services to be rendered by the  Director  pursuant to
this Agreement shall be payable in 250,000 fully paid and non-assessable  shares
of  the  Company's   common  stock  issuable   immediately   upon  signing  (the
"Compensation Shares") for the first year of the Term, and an additional 250,000
Compensation  Shares  issuable upon completion of the first year of Term and the
commencement of the second year of the Term.

3.3 Voting of Compensation  Shares. The Director covenants and agrees that, with
respect to the Compensation Shares that it receives, it shall, at all times that
it is the  beneficial  owner of such  shares,  vote such  shares on all  matters
coming before it as any stockholder of the Company.
<PAGE>
                                       3

3.4  Information.  Subject  to the terms of this  Agreement,  including  without
limitation  Article 5 hereof, and provided that the Director agrees that it will
not disclose any material  non-public  information to any person or entity,  the
Company shall make available to the Director such information and data and shall
permit the Director to have access to such documents as are reasonably necessary
to enable it to perform the  Services  under this  Agreement.  The Company  also
agrees that it will act reasonably and promptly in reviewing materials submitted
to it from time to time by the  Director and inform the Director of any material
inaccuracies or omissions in such materials.

3.5 INDEMNIFICATION. The Company shall indemnify and defend Director to the full
extent  of the law from  and  against  any and all  claims  that may be  brought
against Director in connection with his service to the Company. In addition, the
Company  agrees to maintain  directors and officers  insurance in reasonable and
appropriate amounts during the term of Director's service to the Company.

                   ARTICLE 4 DURATION, TERMINATION AND DEFAULT

4.1 Effective Date.  This Agreement shall become  effective as of March 24, 2010
(the  "Effective  Date"),  and shall  continue to March 24, 2012 (the "Term") or
until earlier terminated pursuant to the terms of this Agreement.

4.2 Termination.  Without prejudicing any other rights that the Company may have
hereunder  or at law or in equity,  the Company  may  terminate  this  Agreement
immediately upon delivery of written notice to the Director if:

     (a)  the Director breaches section 2.2 of this Agreement;

     (b)  the Director  breaches any other  material term of this  Agreement and
          such breach is not cured to the reasonable satisfaction of the Company
          within thirty (30) days after written notice  describing the breach in
          reasonable detail is delivered to the Director;

     (c)  the Company acting reasonably  determines that the Director has acted,
          is acting or is likely to act in a manner  detrimental  to the Company
          or has violated the confidentiality of any information as provided for
          in this Agreement;

     (d)  the Director is unable or unwilling to perform the Services under this
          Agreement, or

     (e)  the Director  commits  fraud,  serious  neglect or  misconduct  in the
          discharge of the Services.

4.3 Duties Upon  Termination.  Upon termination of this Agreement by the Company
for any of the reasons set forth above,  the Director  shall upon receipt of all
sums due and owing,  promptly  deliver  the  following  in  accordance  with the
directions of the Company:

     (a)  a final  accounting,  reflecting  the balance of expenses  incurred on
          behalf of the Company as of the date of termination; and

     (b)  all documents  pertaining to the Company or this Agreement,  including
          but  not  limited  to,  all  books  of  account,   correspondence  and
          contracts,  provided that the Director shall be entitled thereafter to
          inspect,  examine and copy all of the  documents  which it delivers in
          accordance with this provision at all reasonable  times upon three (3)
          days' notice to the Company.
<PAGE>
                                       4

4.4 Compensation of Director on Termination.  Upon termination of this Agreement
by the Company for any of the reasons set forth in section 4.2, above, or if the
Director resigns, the Director shall be entitled to receive as its full and sole
compensation  in discharge of  obligations  of the Company to the Director under
this  Agreement  all sums due and payable  under this  Agreement  to the date of
termination  and the  Director  shall  have no  right  to  receive  any  further
payments;  provided,  however,  that the Company  shall have the right to offset
against any payment  owing to the  Director  under this  Agreement  any damages,
liabilities,  costs or expenses  suffered by the Company by reason of the fraud,
negligence or wilful act of the Director,  to the extent such right has not been
waived by the Company. Upon termination of this Agreement by the Company for any
reason  other than one or more of the reasons set forth in section  4.2,  above,
the Director shall receive, in addition to any unpaid compensation, full vesting
in the Compensation Shares.

                                    ARTICLE 5

                       CONFIDENTIALITY AND NON-COMPETITION

5.1 Maintenance of Confidential  Information.  The Director acknowledges that in
the course of its  appointment  hereunder the Director will,  either directly or
indirectly,  have access to and be entrusted  with  information  (whether  oral,
written or by inspection) relating to the Company or its respective  affiliates,
associates or customers (the  "Confidential  Information").  For the purposes of
this Agreement, "Confidential Information" includes, without limitation, any and
all Developments (as defined herein),  trade secrets,  inventions,  innovations,
techniques,   processes,   formulas,   drawings,   designs,  products,  systems,
creations, improvements, documentation, data, specifications, technical reports,
customer lists,  supplier lists,  distributor lists,  distribution  channels and
methods,  retailer  lists,  reseller  lists,  employee  information,   financial
information,  sales or marketing  plans,  competitive  analysis  reports and any
other thing or information whatsoever,  whether copyrightable or uncopyrightable
or patentable or unpatentable.  The Director  acknowledges that the Confidential
Information  constitutes a proprietary  right,  which the Company is entitled to
protect.  Accordingly the Director covenants and agrees that during the Term and
thereafter until such time as all the Confidential  Information becomes publicly
known  and made  generally  available  through  no  action  or  inaction  of the
Director,   the  Director  will  keep  in  strict  confidence  the  Confidential
Information and shall not,  without prior written consent of the Company in each
instance,  disclose, use or otherwise disseminate the Confidential  Information,
directly or indirectly, to any third party.

5.2  Exceptions.  The general  prohibition  contained in Section 5.1 against the
unauthorized  disclosure,  use or dissemination of the Confidential  Information
shall not apply in respect of any Confidential Information that:

     (a)  is available to the public generally in the form disclosed;

     (b)  becomes part of the public domain through no fault of the Director;

     (c)  is already in the lawful  possession  of the  Director  at the time of
          receipt of the Confidential Information; or

     (d)  is compelled by  applicable  law to be  disclosed,  provided  that the
          Director gives the Company  prompt written notice of such  requirement
          prior to such disclosure and provides assistance in obtaining an order
          protecting the Confidential Information from public disclosure.

5.3  Developments.  Any  information,  data,  work product or any other thing or
documentation whatsoever which the Director,  either by itself or in conjunction
with any third party, conceives, makes, develops, acquires or acquires knowledge
of during the  Director's  appointment  with the Company or which the  Director,
either by itself or in conjunction with any third party,  shall conceive,  make,
<PAGE>
                                       5

develop,  acquire or acquire  knowledge  of  (collectively  the  "Developments")
during the Term or at any time  thereafter  during which the Director is engaged
by the Company  that is related to the business of mining  property  acquisition
and exploration shall  automatically  form part of the Confidential  Information
and shall  become and remain the sole and  exclusive  property  of the  Company.
Accordingly,  the Director does hereby  irrevocably,  exclusively and absolutely
assign,  transfer and convey to the Company in perpetuity  all worldwide  right,
title  and  interest  in and to any and all  Developments  and  other  rights of
whatsoever  nature  and  kind in or  arising  from  or  pertaining  to all  such
Developments created or produced by the Director during the course of performing
this  Agreement,   including,  without  limitation,  the  right  to  effect  any
registration  in the world to protect the  foregoing  rights.  The Company shall
have the sole, absolute and unlimited right throughout the world,  therefore, to
protect the Developments by patent,  copyright,  industrial design, trademark or
otherwise and to make, have made, use, reconstruct,  repair, modify,  reproduce,
publish,  distribute and sell the Developments,  in whole or in part, or combine
the Developments  with any other matter,  or not use the Developments at all, as
the Company sees fit.

5.4 Protection of Developments. The Director does hereby agree that, both before
and after the  termination  of this  Agreement,  the Director shall perform such
further  acts and  execute  and  deliver  such  further  instruments,  writings,
documents and assurances  (including,  without limitation,  specific assignments
and other  documentation which may be required anywhere in the world to register
evidence of ownership  of the rights  assigned  pursuant  hereto) as the Company
shall  reasonably  require in order to give full  effect to the true  intent and
purpose of the assignment  made under Section 5.3 hereof.  If the Company is for
any reason unable,  after reasonable effort, to secure execution by the Director
on documents  needed to effect any registration or to apply for or prosecute any
right or protection relating to the Developments, the Director hereby designates
and  appoints  the Company and its duly  authorized  officers  and agents as the
Director's agent and attorney to act for and in the Director's  behalf and stead
to execute and file any such document and do all other  lawfully  permitted acts
necessary or advisable in the opinion of the Company to effect such registration
or to apply for or prosecute such right or protection, with the same legal force
and effect as if executed by the Director.

5.5  Remedies.  The parties to this  Agreement  recognize  that any violation or
threatened  violation by the Director of any of the provisions contained in this
Article 5 will result in  immediate  and  irreparable  damage to the Company and
that the Company could not adequately be compensated for such damage by monetary
award  alone.  Accordingly,  the  Director  agrees that in the event of any such
violation or threatened  violation,  the Company shall, in addition to any other
remedies  available to the Company at law or in equity,  be entitled as a matter
of right to apply to such  relief  by way of  restraining  order,  temporary  or
permanent  injunction  and to  such  other  relief  as any  court  of  competent
jurisdiction may deem just and proper.

5.6 Reasonable  Restrictions.  The Director agrees that all restrictions in this
Article 5 are reasonable and valid,  and all defenses to the strict  enforcement
thereof by the Company are hereby waived by the Director.

                         ARTICLE 6 DEVOTION TO CONTRACT

6.1 Devotion to Contract.  During the term of this Agreement, the Director shall
devote sufficient time,  attention,  and ability to the business of the Company,
and to any  associated  company,  as is  reasonably  necessary  for  the  proper
performance of the Services pursuant to this Agreement. Nothing contained herein
shall be deemed to require the Director to devote its exclusive time,  attention
and ability to the business of the Company.  During the term of this  Agreement,
the Director  shall,  and shall cause each of its agents assigned to performance
of the Services on behalf of the Director, to:
<PAGE>
                                       6

     (a)  at all times perform the Services faithfully,  diligently, to the best
          of its abilities and in the best interests of the Company;

     (b)  devote such of its time,  labour and  attention to the business of the
          Company as is  necessaiy  for the proper  performance  of the Services
          hereunder; and

     (c)  refrain  from acting in any manner  contrary to the best  interests of
          the Company or contrary to the duties of the Director as  contemplated
          herein.

6.2 Other  Activities.  The  Director  shall not be  precluded  from acting in a
function similar to that contemplated under this Agreement for any other person,
firm or company and it is expressly understood that the Director may be involved
as an owner,  officer and or  director in  companies  in  industries  similar to
Company.

                                    ARTICLE 7

                    PRIVATE PLACEMENT OF COMPENSATION SHARES

7.1 Documents  Required from  Director.  The Director shall  complete,  sign and
return to the  Company as soon as  possible,  on request  by the  Company,  such
additional documents,  notices and undertakings as may be required by regulatory
authorities and applicable law.

7.2 Acknowledgements of Director The Director acknowledges and agrees that:

     (a)  the Director  agrees and  acknowledges  that none of the  Compensation
          Shares have been registered  under the Securities Act of 1933 or under
          any state  securities  or "blue  sky" laws of any state of the  United
          States,  and, unless so registered,  may not be offered or sold in the
          United States or,  directly or  indirectly,  to U.S.  Persons (as that
          term is defined in  Regulation  S under the  Securities  Act of 1933),
          except in accordance  with the provisions of Regulation S, pursuant to
          an effective  registration statement under the Securities Act of 1933,
          or pursuant to an exemption  from, or in a transaction not subject to,
          the  registration  requirements  of the  Securities Act of 1933 and in
          each case only in accordance with applicable  state  securities  laws.
          However,  the parties  acknowledge that the Company shall register the
          Compensation Shares within one year from the date of this Agreement;

     (b)  the Director has not acquired the Compensation  Shares as a result of,
          and will not itself  engage in, any  "directed  selling  efforts"  (as
          defined in  Regulation  S under the 1933 Act) in the United  States in
          respect of any of the  Securities  which would include any  activities
          undertaken for the purpose of, or that could reasonably be expected to
          have the effect of,  conditioning  the market in the United States for
          the resale of any of the Compensation Shares; provided,  however, that
          the Director may sell or otherwise  dispose of any of the Compensation
          Shares  pursuant to  registration  thereof  under the 1933 Act and any
          applicable  state  securities  laws or under an  exemption  from  such
          registration requirements;

     (c)  the Compensation Shares will be subject in the United States to a hold
          period  from the date of issuance of the  Compensation  Shares  unless
          such  Compensation  Shares  are  registered  with the  Securities  and
          Exchange Commission ("SEC");

     (d)  the decision to execute this  Agreement and purchase the  Compensation
          Shares  agreed to be purchased  hereunder  has not been based upon any
          oral or written  representation  as to fact or otherwise made by or on
<PAGE>
                                       7

          behalf of the  Company  other than  those  made by the  Company in the
          information the Company has filed with the SEC;

     (e)  it will indemnify and hold harmless the Company and, where applicable,
          its directors,  officers, employees, agents, advisors and shareholders
          from and  against  any and all  loss,  liability,  claim,  damage  and
          expense whatsoever  (including,  but not limited to, any and all fees,
          costs and expenses  whatsoever  reasonably  incurred in investigating,
          preparing  or  defending  against any claim,  lawsuit,  administrative
          proceeding or investigation  whether commenced or threatened)  arising
          out of or based upon any  representation  or warranty of the  Director
          contained  herein or in any document  furnished by the Director to the
          Company in connection herewith being untrue in any material respect or
          any breach or failure by the  Director to comply with any  covenant or
          agreement made by the Director to the Company in connection therewith;

     (f)  the issuance and sale of the Compensation  Shares to the Director will
          not be completed if it would be unlawful;

     (g)  the  Compensation  Shares  are not  listed  on any stock  exchange  or
          subject  to  quotation  and no  representation  has  been  made to the
          Director that the Compensation  Shares will become listed on any other
          stock exchange or subject to quotation on any other  quotation  system
          except  that  market  makers  are  currently  making  markets  in  the
          Company's common stock on the OTC Bulletin Board;

     (h)  no securities  commission or similar regulatory authority has reviewed
          or passed on the merits of the Compensation Shares;

     (i)  there is no government or other  insurance  covering the  Compensation
          Shares;

     (j)  there are risks  associated  with an  investment  in the  Compensation
          Shares,  including  the risk that the  Director  could lose all of its
          investment;

     (k)  the  Director  and the  Director's  advisor(s)  have had a  reasonable
          opportunity  to ask questions of and receive  answers from the Company
          in  connection  with  the  distribution  of  the  Compensation  Shares
          hereunder,  and  to  obtain  additional  information,  to  the  extent
          possessed  or  obtainable  without  unreasonable  effort  or  expense,
          necessary to verify the accuracy of the information about the Company;

     (1)  the books and records of the Company were  available  upon  reasonable
          notice   for   inspection,    subject   to   certain   confidentiality
          restrictions,  by the Director during reasonable business hours at its
          principal place of business,  and all documents,  records and books in
          connection with the distribution of the Compensation  Shares hereunder
          have  been  made  available  for  inspection  by  the  Director,   the
          Director's lawyer and/or advisor(s);

     (m)  the Company will refuse to register  any transfer of the  Compensation
          Shares not made in  accordance  with the  provisions  of Regulation S,
          pursuant to an effective  registration statement under the 1933 Act or
          pursuant to an available exemption from the registration  requirements
          of the 1933 Act;

     (n)  the statutory and regulatory  basis for the exemption  claimed for the
          offer of the  Compensation  Shares,  although in technical  compliance
          with Regulation S, would not be available if the offering is part of a
<PAGE>
                                       8

          plan or scheme to evade the  registration  provisions of the 1933 Act;
          and

     (o)  the Director has been advised to consult the Director's own legal, tax
          and  other  advisors  with  respect  to the  merits  and  risks  of an
          investment in the  Compensation  Shares and with respect to applicable
          resale restrictions,  and it is solely responsible (and the Company is
          not in any way responsible) for compliance with:

          (i)  any applicable laws of the  jurisdiction in which the Director is
               resident in connection with the  distribution of the Compensation
               Shares hereunder, and

          (ii) applicable resale restrictions.

7.3  Representations,  Warranties  and Covenants of the  Director.  The Director
hereby  represents  and  warrants  to and  covenants  with  the  Company  (which
representations, warranties and covenants shall survive the end of the expiiy of
the Term or early termination of this Agreement) that:

     (a)  The Director is a U.S. Person and is an "accredited  investor" as that
          term is defined in Rule 501 of Regulation D promulgated under the 1933
          Act;

     (b)  the Director is not acquiring the Compensation  Shares for the account
          or benefit of, directly or indirectly, any U.S. Person;

     (c)  the sale of the Compensation Shares to the Director as contemplated in
          this  Agreement  complies  with  or  is  exempt  from  the  applicable
          securities  legislation  of  the  jurisdiction  of  residence  of  the
          Director;

     (d)  the Director is acquiring the Compensation  Shares for investment only
          and not with a view to resale or distribution  and, in particular,  it
          has no intention to distribute  either  directly or indirectly  any of
          the Compensation Shares in the United States or to U.S. Persons;

     (e)  the  Director  is  executing  this  Agreement  and  is  acquiring  the
          Compensation  Shares as principal for the Director's own account,  for
          investment  purposes  only,  and not with a view to,  or for,  resale,
          distribution or fractionalisation thereof, in whole or in part, and no
          other  person has a direct or  indirect  beneficial  interest  in such
          Compensation Shares;

     (f)  the entering into of this Agreement and the transactions  contemplated
          hereby have been duly authorized by all necessary  corporate action on
          the part of the Director;  (g) the entering into of this Agreement and
          the transactions contemplated thereby will not result in the violation
          of any of the  terms  and  provisions  of any  law  applicable  to the
          Director, or of any agreement,  written or oral, to which the Director
          may be a party or by which the Director is or may be bound;

     (h)  the Director has duly  executed and  delivered  this  Agreement and it
          constitutes a valid and binding agreement of the Director  enforceable
          against the Director in accordance with its terms;
<PAGE>
                                       9

     (i)  the Director has the requisite  knowledge and  experience in financial
          and  business  matters as to be capable of  evaluating  the merits and
          risks of the prospective investment in the Compensation Shares and the
          Company;

     (j)  the Director is not an underwriter of, or dealer in, the common shares
          of the  Company,  nor is the  Director  participating,  pursuant  to a
          contractual  agreement  or  otherwise,  in  the  distribution  of  the
          Compensation Shares;

     (k)  the Director is not aware of any  advertisement  of  pertaining to the
          Company or any of the Compensation Shares; and

     (1)  no   person   has  made  to  the   Director   any   written   or  oral
          representations:

          (i)  that any person will resell or repurchase any of the Compensation
               Shares;

          (ii) that any  person  will  refund the  purchase  price of any of the
               Compensation Shares;

          (iii)as to the  future  price  or  value  of  any of the  Compensation
               Shares; or

          (iv) that any of the Compensation Shares will be listed and posted for
               trading  on any stock  exchange  or  automated  dealer  quotation
               system or that  application has been made to list and post any of
               the  Compensation  Shares of the Company on any stock exchange or
               automated dealer quotation system,  except that currently certain
               market  makers make market in the common shares of the Company on
               the OTC Bulletin Board.

7.4 Legending of Compensation Shares. The Director hereby acknowledges that upon
the  issuance  thereof,  and until  such time as the same is no longer  required
under  the  applicable   securities  laws  and  regulations,   the  certificates
representing any of the Compensation  Shares will bear a legend in substantially
the following form:

          NONE  OF  THE  SECURITIES   REPRESENTED   HEREBY  HAVE  BEEN
          REGISTERED  UNDER THE 1933 ACT, OR ANY U.S. STATE SECURITIES
          LAWS, AND, UNLESS SO REGISTERED, MAY NOT BE OFFERED OR SOLD,
          DIRECTLY  OR  INDIRECTLY,  IN THE UNITED  STATES (AS DEFINED
          HEREIN) OR TO U.S.  PERSONS  EXCEPT IN  ACCORDANCE  WITH THE
          PROVISIONS OF  REGULATION S UNDER THE 1933 ACT,  PURSUANT TO
          AN EFFECTIVE  REGISTRATION  STATEMENT UNDER THE 1933 ACT, OR
          PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION
          NOT SUBJECT TO, THE  REGISTRATION  REQUIREMENTS  OF THE 1933
          ACT AND IN EACH  CASE  ONLY IN  ACCORDANCE  WITH  APPLICABLE
          STATE  SECURITIES  LAWS. IN ADDITION,  HEDGING  TRANSACTIONS
          INVOLVING  THE  SECURITIES  MAY NOT BE  CONDUCTED  UNLESS IN
          COMPLIANCE  WITH THE 1933  ACT.  "UNITED  STATES"  AND "U.S.
          PERSON" ARE AS DEFINED BY REGULATION S UNDER THE 1933 ACT.

7.5 The Director hereby acknowledges and agrees to the Company making a notation
on its records or giving instructions to the registrar and transfer agent of the
Company  in order to  implement  the  restrictions  on  transfer  set  forth and
described in this Agreement.
<PAGE>
                                       10

                             ARTICLE 8 MISCELLANEOUS

8.1 Notices.  All notices  required or allowed to be given under this  Agreement
shall be made either  personally by delivery to or by facsimile  transmission to
the  address  as  hereinafter  set  forth  or to such  other  address  as may be
designated from time to time by such party in writing:

     (a)  in the case of the Company, to:

          FIRST LIBERTY POWER CORP.
          114 West Magnolia St., #400 - 136, Bellingham, WA
          98225
          Attention: Glyn Garner

     (b)  and in the case of the Director to:

          JOHN H. HOAK
          Box 565, Big Horn, WY 82833

8.2 Independent Legal Advice. The Director acknowledges that:

     (a)  this Agreement was prepared by the W.L.  Macdonald Law Corporation for
          the Company;

     (b)  W.L. Macdonald Law Corporation received  instructions from the Company
          and does not represent the Director;

     (c)  the Director has been  requested to obtain his own  independent  legal
          advice on this Agreement prior to signing this Agreement;

     (d)  the Director has been given adequate time to obtain  independent legal
          advice;

     (e)  by  signing  this  Agreement,  the  Director  confirms  that he  fully
          understands this Agreement; and

     (f)  by signing this Agreement  without first obtaining  independent  legal
          advice,  the  Director  waives his right to obtain  independent  legal
          advice.

8.3 Change of Address.  Any party may, from time to time, change its address for
service hereunder by written notice to the other party in the manner aforesaid.

8.4  Entire  Agreement.  As of from  the  date  hereof,  any  and  all  previous
agreements,  written  or oral  between  the  parties  hereto or on their  behalf
relating to the  appointment  of the  Director by the Company are null and void.
The  parties  hereto  agree  that  they  have  expressed   herein  their  entire
understanding and agreement  concerning the subject matter of this Agreement and
it is expressly agreed that no implied covenant,  condition, term or reservation
or prior  representation or warranty shall be read into this Agreement  relating
to or concerning the subject  matter hereof or any matter or operation  provided
for herein.

8.5 Further  Assurances.  Each parly  hereto will  promptly and duly execute and
deliver to the other party such further  documents and  assurances and take such
further action as such other party may from time to time  reasonably  request in
<PAGE>
                                       11

order to more effectively carry out the intent and purpose of this Agreement and
to  establish  and  protect  the rights and  remedies  created or intended to be
created hereby.

8.6 Waiver.  No provision  hereof shall be deemed waived and no breach  excused,
unless such waiver or consent  excusing the breach is made in writing and signed
by the party to be charged  with such waiver or consent.  A waiver by a party of
any provision of this Agreement  shall not be construed as a waiver of a further
breach of the same provision.

8.7  Amendments  in Writing.  No amendment,  modification  or rescission of this
Agreement  shall be  effective  unless  set forth in  writing  and signed by the
parties hereto.

8.8 Assignment.  Except as herein expressly provided,  the respective rights and
obligations  of the Director and the Company under this  Agreement  shall not be
assignable  by either party  without the written  consent of the other party and
shall, subject to the foregoing, enure to the benefit of and be binding upon the
Director  and the Company and their  permitted  successors  or assigns.  Nothing
herein  expressed  or implied is intended to confer on any person other than the
parties hereto any rights,  remedies,  obligations  or  liabilities  under or by
reason of this Agreement.

8.9  Severability.  In the event that any provision  contained in this Agreement
shall be declared  invalid,  illegal or unenforceable by a court or other lawful
authority  of  competent  jurisdiction,  such  provision  shall be deemed not to
affect or impair the validity or  enforceability  of any other provision of this
Agreement, which shall continue to have full force and effect.

8.10 Headings.  The headings in this  Agreement are inserted for  convenience of
reference only and shall not affect the construction or  interpretation  of this
Agreement.

8.11 Number and Gender.  Wherever the singular or masculine or neuter is used in
this Agreement, the same shall be construed as meaning the plural or feminine or
a body politic or corporate and vice versa where the context so requires.

8.12 Time. Time shall be of the essence of this Agreement. In the event that any
day on or before  which any action is  required to be taken  hereunder  is not a
business  day,  then such action  shall be required to be taken at or before the
requisite  time on the next  succeeding  day  that is a  business  day.  For the
purposes of this Agreement,  "business day" means a day which is not Saturday or
Sunday or a statutoiy holiday in Reno, Nevada, U.S.A.

8.13  Enurement.  This Agreement is intended to bind and enure to the benefit of
the Company, its successors and assigns, and the Director and the personal legal
representatives of the Director.

8.14 Counterparts.  This Agreement may be executed in several counterparts, each
of  which  will be  deemed  to be an  original  and all of which  will  together
constitute one and the same instrument.

8.15 Currency. Unless otherwise provided, all dollar amounts referred to in this
Agreement are in lawful money of the United States of America.

8.16  Electronic  Means.  Delivery  of an  executed  copy of this  Agreement  by
electronic  facsimile  transmission  or other means of electronic  communication
capable of producing a printed copy will be deemed to be execution  and delivery
of this Agreement as of the effective date of this Agreement.

8.17 Proper Law. This  Agreement will be governed by and construed in accordance
with the law of Nevada.  The parties  hereby attorn to the  jurisdiction  of the
Courts in the State of Nevada.
<PAGE>
                                       12

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

FIRST LIBERTY POWER CORP.

Per:
    -----------------------------------
    Authorized Signatory

/s/ John H. Hoak
---------------------------------------
JOHN H. HOAK
May 3, 2010

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