Document:

Settlement
      Agreement

    

    

    
      	Party
              A:	
              China
                Construction Bank Corporation Shanghai Yangpu
                branch

            

    

    
      	Party
              B:	
              Shanghai
                Wanxing Bio-pharmaceutical Co., Ltd.

            

    

    
      	Party
              C:	
              Shanghai
                Fengxi Driver’s Training School

            

    

    

    After
      friendly negotiation, Party A, Party B and Party C reached the following
      settlement agreement:

    

    1.
      The
      three parties confirmed that, as of March. 31, 2008, Party B has repaid loan
      principles at an amount of 16.20million RMB, the remaining loan principle to
      be
      repaid is $13.80 million RMB. 

    

    2.
      Party
      B shall complete the loan repayment before September, 2008, as detailed
      below:

    Before
      this agreement signed, repay 0.5 million RMB of loan principles;

    Before
      end of June 2008, repay 4 million RMB of loan principles;

    Before
      end of September 2008, repay the remaining loan principle and
      interest

    

    In
      case
      Party B fails to make the repayment, Party C agrees to allow the People’s court
      to force implementation of Party C’s property, which will be used to repay Party
      A.

    

    3.
      During
      this period, the interest of the loan shall be continuously counted as per
      the
      over-due interest regulations of People’s Bank of China until the final payment
      made. 

    

    4.
      In
      case party B fails to make the repayment as per above schedule on time, Party
      A
      is entitled to request the People’s Court of Shanghai, Yangpu District to force
      implementation and put Party B’s mortgaged land and property for auction. Party
      A has the priority right to receive any funds gained from the auction.

    

    5.
      This
      agreement is in four copies. Party A, B, C and the People’s Court of Shanghai,
      Yangpu District each holds one copy. 

    

    
      	PartyA:	
              China
                Construction Bank Corporation Shanghai Yangpu branch.
                (stamp)

            

    

    
      	PartyB:	
              Shanghai
                Wanxing Bio-pharmaceutical Co., Ltd.
                (stamp)

            

    

    
      	PartyC:	
              Shanghai
                Fengxi Driver’s Training School.
                (stamp)

            

    

    

    

    Signing
      date: April 3, 2008Settlement
      Agreement

    

    

    
      	Party
              A:	
              Industrial
                Bank Co., Ltd Shanghai branch

            

    

    
      	Party
              B:	
              Shanghai
                Wanxing Bio-pharmaceutical Co., Ltd.

            

    

    
      	Party
              C:	
              Beijing
                Guoan Electric Company

            

    

    

    Upon
      negotiation, Party A and Party B reached the following settlement agreement
      

    

    1.
      Party
      B shall repay fund to Party A as per the following time frame:

    

    Before
      April 30, 2008, repay RMB 3 millions;

    Before
      June 30, 2008, repay RMB 10 millions:

    Before
      September 30, 2008, repay the remaining loan principle and interest

    

    2.
      Party
      C will take the warranty liability for the above loan repayment.

    

    3.
      In
      case Party B fails to perform the above loan repayment obligation on time,
      Party
      A is entitled to seize Party B’s bank accounts described above and request the
      court to force implementation to Party B and Party C. 

    

    4.
      This
      agreement is in four copies. Party A, B, C and the second intermediate people’s
      court of Shanghai each holds one copy. This agreement enters into effect upon
      signing (stamp). 

    

    

    
      	Party
              A:	
              Industrial
                Bank Co., Ltd Shanghai branch.
                (stamp)

            

    

    

    
      	Party
              B:	
              Shanghai
                Wanxing Bio-pharmaceutical Co., Ltd.
                (stamp)

            

    

    

    
      	Party
              C:	
              Beijing
                Guoan Electric Company. (stamp)

            

    

    

    

    Signing
      date: April 08, 2008Employment
      Agreement

    

    THIS
      EMPLOYMENT AGREEMENT (the
“Agreement”) is made and entered into as of March 1, 2008 (the “Effective Date”)
      by and between Zulu Energy Corp., a
      Colorado corporation (the “Company”) and Paul Stroud, an
      individual (“Employee”).

    

    WHEREAS,
      the Company desires to retain the services of Employee as set forth herein,
      and

    

    WHEREAS,
      Employee is willing to be employed by the Company as set forth
      herein.

    

    NOW,
      THEREFORE, in consideration of the mutual covenants contained herein, the
      parties agree as follows:

    

    1.
       Employment.
      Employee
      is hereby employed and engaged to serve the Company as Chief Executive Officer,
      President and Chief Operating Officer, or such additional titles as the Company
      shall specify from time to time with the consent of Employee, and Employee
      does
      hereby accept and agrees to such engagement and employment. 

    

    2.
       Duties.
      Employee’s duties shall be such duties and responsibilities as the Company,
      through its Board of Directors or otherwise, shall specify from time to time.
      Employee shall have such authority, discretion, power and responsibility, and
      shall be entitled to office, secretarial and other facilities and conditions
      of
      employment, as are customary or appropriate to Employee’s position. Employee
      shall diligently and faithfully execute and perform such duties and
      responsibilities, subject to the general supervision and control of the
      Company’s Board of Directors. Employee shall be responsible and report to the
      Company’s Board of Directors. 

    

    The
      Employee will devote his time, attention, and energies to the Company’s business
      and, during the term of this Agreement, will not engage in any other business
      activity, except as set forth herein. Nothing
      in
      this Agreement shall preclude Employee from devoting time to the
      following activities, provided such activities: (i) do not materially interfere
      with the performance of Employee’s duties and responsibilities under this
      Agreement; (ii) there is no conflict of interest with the interests of the
      Company, and (iii) if Employee receives direct compensation for an activity
      set
      forth in subsection (d), below, such activity has been disclosed in writing
      by
      the Employee and approved by the Company’s Board of Directors as set forth
      herein:

    

    
      	 	
              (a)

            	
              serving
                as a director or member of a committee of any organization or
                corporation;

            

    

    

    
      	 	
              (b)
                

            	
              serving
                as a consultant in his area of expertise to government, industrial,
                and
                academic panels; 

            

    

    

    
      	 	
              (c)

            	
              managing
                personal investments; or 

            

    

    

    
      	 	
              (d)

            	
              engaging,
                directly or indirectly, in any other non-competing
                business.

            

    

    

    Employee
      agrees to disclose in writing to the Company’s Board of Directors any
      non-competing business activity for which Employee receives or shall receive
      direct compensation. Approval of such business activity shall be granted by
      the
      Board within 30 (thirty) days of receipt of Employee’s disclosure unless the
      Board determines, in good faith, that there is an irreconcilable conflict of
      interest or such activity materially interferes with Employee’s duties to the
      Company. Such activities shall be deemed approved if the Board fails to respond
      to Employee’s disclosure within 30 (thirty) days of receipt of
      same.

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    3. Term.
      The
      term of this Agreement shall be ongoing unless terminated by either party
      pursuant to Section 13. 

    

    4.
       Compensation
      of Employee. 

    

    (a) Base
      Compensation.
      As
      compensation for the services provided by Employee under this Agreement, the
      Company shall pay Employee an annual salary in accordance with the Company's
      usual payroll procedures as follows:

    
      
        

          
            	
                  	(i)	
                    So
                      long as the Company secures cumulative financing totaling less
                      than
                      $5,000,000.001 (five million dollars), base compensation shall
                      be $180,000 (one hundred eighty thousand dollars) per
                      year;

                  

          

        

      

       

    

    
      	
            	(ii)	
              Immediately
                upon securing cumulative financing totaling $5,000,000.00 (five million
                dollars) – $10,000,000.00 (ten million dollars), base compensation
                shall be $240,000 (two hundred forty thousand dollars) per
                year;

            

    

    

    
      	
            	(iii)	
              Immediately
                upon securing cumulative financing totaling more than $10,000,000.00
                (ten
                million dollars), base compensation shall be $300,000.00 (three hundred
                thousand dollars) per year. 

            

    

    

    (b) Stock
      Options.
      Upon
      execution of this Agreement, the Company shall grant Employee options to
      purchase up to 1,500,000 (one million five hundred thousand) shares of the
      Company’s common stock with an exercise price equal to $1.00 per share. Upon the
      Company’s adoption of a qualified stock option plan, Employee may exchange such
      options for qualified options under the Company’s stock option plan, with
      vesting and terms to be in accordance with the stock option plan. The stock
      of
      the Company that is provided to Employee pursuant to this provision or any
      stock
      option plan shall be properly registered shares with the United States
      Securities and Exchange Commission. 

    

    (c) Phantom
      Stock Plan.
      In
      addition to the stock options set forth above, the Company agrees to credit
      Employee with 2,000,000 (two million) shares of stock, with 40% (forty percent)
      of such shares allocated on January 1, 2009; 30% (thirty percent) allocated
      on
      January 1, 2010; and the remaining 30% (thirty percent) allocated on January
      1,
      2011, as set forth in a separate Phantom Stock Plan. The Company agrees to
      provide a Phantom Stock Plan to Employee within 30 (thirty) days of the
      Effective Date. Any stock of the Company that is provided to Employee pursuant
      to this provision shall be properly registered shares with the United States
      Securities and Exchange Commission. 

    

    (d) Signing
      Bonus.
      Employee
      shall receive a signing bonus of $100,000.00 (one hundred thousand dollars)
      immediately upon the Company securing $5,000,000.00 (five million dollars)
      in
      financing.

    

    (e) Annual
      Bonus. Employee
      shall be eligible to receive an annual bonus determined by the Board of
      Directors based on the performance of the Company and Employee.

    

    (f) Automobile
      Allowance.
      In
      addition to the compensation set forth above, the Company shall provide Employee
      with $800.00 (eight hundred dollars) per month as an automobile
      allowance.

     

    
      
        
1 All
        references to monetary amounts in this Agreement shall be in United States
        dollars.

    

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

    
      
        5.
          Benefits. Employee shall be entitled to participate in any and
          all Company benefit plans, in effect from time to time, including, but
          not
          limited to, pension and 401k plans, short-term disability, long-term disability,
          health, dental and vision insurance plans available to the Company's senior
          management executives and their dependents. Such participation shall be
          subject
          to the terms of the applicable plan documents and generally applicable
          Company
          policies.

      

    

     

    6.
       Vacation,
      Sick Leave and Holidays.
      Employee
      shall be entitled to 5 (five) weeks of paid vacation, with such vacation to
      be
      scheduled and taken in accordance with the Company's standard vacation policies.
      All unused, accrued vacation can be carried into the next year. Remaining
      unused, accrued vacation time will be paid during the first quarter of the
      following year. In addition, Employee shall be entitled to such sick leave
      and
      holidays at full pay in accordance with the Company's policies established
      and
      in effect from time to time.

    

    7.
       Business
      Expenses.
      The
      Company shall promptly reimburse Employee for all reasonable out-of-pocket
      business expenses incurred in performing Employee’s duties and responsibilities
      hereunder in accordance with the Company's policies, including reimbursement
      of
      no less than business class airfare on international flights and first-class
      airfare on domestic flights, provided Employee promptly furnishes to the Company
      adequate records of each such business expense. Such expenses shall be
      reimbursed in accordance with the Company’s regular reimbursement
      practices.

    

    8.
       Location
      of Employee's Activities. The
      Company shall maintain its principal place of business at a fully operational
      office located in Sheridan, Wyoming area as determined by the Company’s Board of
      Directors. The Company shall maintain a secondary place of business at a fully
      operational office located in the metro Denver, Colorado area. The employee’s
      primary work location shall be the Sheridan, Wyoming office. The Company may
      open other offices in other locations, as necessary. The Company agrees to
      reimburse Employee for all reasonable travel expenses between such locations,
      including accommodations, mileage, and meal expenses. Employee will engage
      in
      such travel and spend such time in other places as may be reasonably necessary
      or appropriate in discharging Employee’s duties hereunder. 

    

    9.
       Confidential
      Information/Documents/Inventions. 

    

    (a)  Confidential
      Information.
      Employee
      shall not, in any manner, for any reason, either directly or indirectly, divulge
      or communicate to any person, firm or corporation, any confidential information
      concerning any matters not generally known or otherwise made public by Company
      which affects or relates to the Company’s business, finances, marketing and/or
      operations, research, development, inventions, products, designs, plans,
      procedures, or other data (collectively, “Confidential Information”) except in
      the ordinary course of business, as necessary to joint venture partners or
      as
      required by applicable law. Confidential Information shall not include: (i)
      information obtained or which became known to Employee other than through his
      employment by the Company; (ii) information in the public domain at the time
      of
      the disclosure of such information by Employee; (iii) information that Employee
      can document was independently developed by Employee; (iv) information that
      is
      disclosed by Employee with the prior written consent of the Company; and (v)
      information that is disclosed by Employee as required by law, governmental
      regulation or court order.
      This
      provision shall survive the termination of this Agreement.

    

    (b)  Documents.
      All
      documents and materials furnished to Employee by the Company and relating to
      the
      Company’s business or prospective business are and shall remain the exclusive
      property of the Company. Employee shall deliver all such documents and materials
      and all copies thereof to the Company upon demand therefore and in any event
      upon termination of this Agreement.

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

    (c)  Inventions.
      All
      ideas, inventions, and other developments or improvements conceived or reduced
      to practice by Employee, alone or with others, during the term of this
      Agreement, during working hours, that are within the scope of the business
      of
      the Company or that relate to or result from any of Employee’s work or projects
      or the services provided by Employee to the Company pursuant to this Agreement,
      shall be the exclusive property of the Company. Employee agrees to assist the
      Company, at the Company’s expense, to obtain patents and copyrights on any such
      ideas, inventions, writings, and other developments, and agrees to execute
      all
      documents necessary to obtain such patents and copyrights in the name of the
      Company. In consideration of said assistance, Company agrees to share with
      the
      Employee (and any others who conceived or reduced to practice an invention)
      a
      total of no less than 25% (twenty-five percent) of the portion of any net
      profits realized by the Company’s commercialization of said invention. This
      clause excludes all intellectual property work initiated prior to the execution
      of this Agreement.

     

    10.
       Non-Compete.
      During
      the term of this Agreement and, if this Agreement is terminated pursuant to
      Section 13(a), for a period of 6 (six) months following the termination of
      this
      Agreement, Employee shall not: (a) engage directly or indirectly in any business
      or activity in Botswana, Africa which is substantially similar to any business
      or activity engaged in (or proposed to be engaged in) by the Company in
      Botswana; (b) engage directly or indirectly in any business or activity in
      Botswana, Africa competitive with any business or activity engaged in (or
      proposed to be engaged in) by the Company in Botswana; (c) solicit directly
      or
      indirectly any employee, agent, representative, contractor, supplier, vendor,
      customer, franchisee, lender or investor of the Company, or attempting to do
      so;
      or (d) interfere directly or indirectly with any contractual or other
      relationship between the Company and any employee, agent, representative,
      contractor, supplier, vendor, customer, franchisee, lender or investor. The
      parties agree that this restriction is reasonable as to time and geographic
      area. Any potentially competing activity is expressly excluded from application
      of this section if (a) Employee notifies Company of the nature and scope of
      the
      activity in advance of undertaking said activity and (b) Company consents to
      the
      undertaking of said activity by Employee upon notification of intent to
      undertake.

    

    11.
       Injunctive
      Relief. Employee
      acknowledges and agrees that the covenants and obligations of Employee set
      forth
      in Sections 9 and 10 with respect to non-competition, non-solicitation,
      confidentiality and the Company’s property relate to special, unique and
      extraordinary matters and that a violation of any of the terms of such covenants
      and obligations will cause the Company irreparable injury for which adequate
      remedies are not available at law. Therefore, Employee agrees that the Company
      shall be entitled to an injunction, restraining order or such other equitable
      relief (without the requirement to post bond) as a court of competent
      jurisdiction may deem necessary or appropriate to restrain Employee from
      committing any violation of the covenants and obligations referred to in this
      Section 11. These injunctive remedies are cumulative and in addition to any
      other rights and remedies the Company may have at law or in equity.

    

    12.
       Survival
      of Sections 9, 10 and 11.
      Notwithstanding the foregoing, if this Agreement is terminated upon the
      dissolution of the Company, the filing of a petition in bankruptcy by the
      Company or upon an assignment for the benefit of creditors of the assets of
      the
      Company, Sections 9, 10 and 11 shall be of no further force or
      effect.

    

    13.
       Termination.
      Employee’s employment hereunder shall terminate under the following
      circumstances and terms:

    

    (a) Termination
      by Employee.
      Employee
      shall have the right to terminate this Agreement and his employment hereunder
      at
      any time for any reason during the term of this Agreement upon 30 (thirty)
      days’
written notice to the Company. Upon such termination, the Company shall pay
      Employee a cash lump sum equal to all accrued base salary through the date
      of
      termination plus all accrued vacation pay and bonuses, if any. Any shares of
      common stock, including phantom stock, or options granted to Employee that
      have
      not vested shall become immediately vested. If any stock granted to Employee
      is
      not registered as of the date of Employee’s termination, the Company shall
      register such shares within 6 (six) months following the date of Employee’s
      termination. All stock options shall be exercisable for 3 (three) years
      following the date of Employee’s termination.

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

    (b) Termination
      by the Company. The
      Company shall have the right to terminate Employee’s employment as
      follows:

    

    
      	 	
              (i)

            	
              Without
                Cause. The
                Company shall have the right to terminate this Agreement and Employee’s
                employment hereunder without cause at any time upon 30 (thirty) days’
                written notice. “Without cause” shall mean for no reason or any reason
                other than as set forth in subsection (b)(ii) below. If the Company
                terminates Employee without cause, the Company agrees to pay Employee
                a
                lump-sum separation fee at the time of termination equal to 12 (twelve)
                months salary plus benefits. Any shares of common stock, including
                phantom
                stock, or options granted to Employee that have not vested shall
                become
                immediately vested. If any stock granted to Employee is not registered
                as
                of the date of Employee’s termination, the Company shall register such
                shares within 6 (six) months following the date of Employee’s termination.
                All stock options shall be exercisable for 3 (three) years following
                the
                date of Employee’s termination. 

            

    

    

    
      	
            	(ii)	
              For
                Cause.
                The Company shall have the right to terminate this Agreement and
                Employee’s employment hereunder at any time for cause upon written notice.
                The term “for cause” shall mean Employee's personal dishonesty, willful
                misconduct, breach of fiduciary duty involving personal profit, willful
                violation of any law, rule or regulation relating to the operation
                of the
                business or to the Company, or a material breach by Employee of any
                provision of this Agreement. If Employee is terminated “for cause,” the
                written notice given hereunder by the Company to Employee shall specify
                in
                reasonable detail the cause for termination. If Employee is terminated
                “for cause” under this subsection (b)(ii), any shares of common stock or
                options granted to Employee that have not vested shall be
                terminated.

            

    

    

    (c) Event
      of Sale, Merger or Change of Control.
      In
      the
      event of the sale, merger or change of control of the Company, or an agreement
      to sell, merge or change control of the Company during the term of this
      Agreement, the Company or its successor(s) agrees to immediately vest all
      unvested stock, including phantom stock, and options and offer Employee
      employment under the terms set forth herein, for a period of at least 12
      (twelve) months after the sale or merger closing date. If this employment
      extension is not given by the Company or its successor(s) and accepted by
      Employee, then the Company or its successor(s) shall comply with the termination
      provisions of Section 13(b)(i), above. 

    

    (d) Termination
      Upon Death.
      If
      Employee dies during the term of this Agreement, Employee’s estate shall be
      entitled to receive any earned but unpaid compensation or expense reimbursement
      due hereunder through the date of death and any shares of common stock,
      including phantom stock, or options granted to Employee by the Company, which
      shall become immediately vested. Employee’s estate shall have the right of
      option exercise of such shares for 3 (three) years following the Employee’s
      death. If any stock granted to Employee is not registered as of the date of
      Employee’s death, the Company shall register such shares within 6 (six) months
      following the date of Employee’s death. In the event of a merger, consolidation,
      sale, or change of control, the Employee’s rights hereunder shall be assigned to
      the surviving or resulting company, which company shall then honor this
      Agreement with Employee and Employee’s estate. In addition, if Employee dies
      during the term of this Agreement and Employee’s death occurs as a direct result
      of activities undertaken on behalf of the Company, in addition to any other
      insurance benefits available to Employee, the Company agrees to pay Employee’s
      estate a lump-sum amount equivalent to 12 (twelve) months salary from the date
      of Employee’s death. 

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

    (e) Termination
      Upon Disability.
      If,
      during the term of this Agreement, Employee suffers and continues to suffer
      from
      a “Disability” (as defined below), then the Company may terminate this Agreement
      by delivering to Employee 30 (thirty) calendar days’ prior written notice of
      termination based on such Disability, setting forth with specificity the nature
      of such Disability and the reasons for the Company’s determination of
      Disability. “Disability” shall mean Employee’s inability, with reasonable
      accommodation, to substantially perform Employee’s duties, services and
      obligations under this Agreement due to physical or mental illness or other
      disability for a continuous, uninterrupted period of 180 (one hundred and
      eighty) calendar days or 210 (two hundred and ten) days during any twelve (12)
      month period. Upon any such termination for Disability, Employee shall receive
      (i) a cash lump sum equal to all accrued base salary through the date of
      termination plus all accrued vacation pay and bonuses, if any; (ii) a lump
      sum
      amount equivalent to 12 (twelve) months of salary from the date of termination;
      and (iii) any shares of common stock, including phantom stock, or options
      granted to Employee that have not vested shall become immediately vested. All
      options shall be exercisable by the Employee’s estate for 3 (three) years
      following Employee’s termination. If any stock granted to Employee is not
      registered as of the date of Employee’s termination, the Company shall register
      such shares within 6 (six) months following the date of Employee’s
      termination

     

    14.
       Resignation
      as Officer.
      In the
      event that Employee’s employment with the Company is terminated for any reason,
      Employee agrees to immediately resign as an Officer and/or Director of the
      Company and any related entities. “Related entities” shall include subsidiaries,
      parents, and affiliates of the Company. 

    

    15.
       Governing
      Law, Jurisdiction and Venue.
      This
      Agreement shall be governed by and construed in accordance with the laws of
      the
      State of Colorado without giving effect to any applicable conflicts of law
      provisions.

    

    16.
       Independent
      Legal Advice.
      The
      Company has requested that Employee obtain independent legal advice with respect
      to this Agreement before executing same. Employee, in executing this Agreement,
      represents and warranties to the Company that he has been so advised to obtain
      independent legal advice, and that prior to the execution of this Agreement
      he
      has so obtained independent legal advice, or has, in his discretion, knowingly
      and willingly elected not to do so.

    

    17.
       Indemnification.

    

    (a) The
      Company agrees that if Employee is made a party, or is threatened to be made
      a
      party, to any action, suit or proceeding, whether civil, criminal,
      administrative or investigative (a "Proceeding"), by reason of the fact that
      he
      is or was a director, officer or employee of the Company or is or was serving
      at
      the request of the Company as a director, officer, member, employee or agent
      of
      another corporation, partnership, joint venture, trust or other enterprise,
      including service with respect to employee benefit plans, whether or not the
      basis of such Proceeding is Employee’s alleged action in an official capacity
      while serving as a director, officer, member, employee or agent, Employee shall
      be indemnified and held harmless by the Company to the fullest extent permitted
      or authorized by the Company's certificate of incorporation or bylaws or, if
      greater, by the laws of the State of Colorado, against all cost, expense,
      liability and loss (including, without limitation, attorney's fees, judgments,
      fines, ERISA excise taxes or penalties and amounts paid or to be paid in
      settlement) reasonably incurred or suffered by Employee in connection therewith,
      and such indemnification shall continue as to Employee even if he has ceased
      to
      be a director, member, employee or agent of the Company or other entity and
      shall inure to the benefit of Employee’s heirs, executors and administrators.
      The Company shall advance to Employee to the extent permitted by law all
      reasonable costs and expenses incurred by him in connection with a Proceeding
      within 20 (twenty) days after receipt by the Company of a written request,
      with
      appropriate documentation, for such advance. Employee shall repay the amount
      of
      such advance if it shall ultimately be determined that Employee is not entitled
      to be indemnified against such costs and expenses.

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

    (b) Neither
      the failure of the Company (including its Board of Directors, independent legal
      counsel or stockholders) to have made a determination prior to the commencement
      of any proceeding concerning payment of amounts claimed by Employee that
      indemnification of Employee is proper because he has met the applicable standard
      of conduct, nor a determination by the Company (including its Board of
      Directors, independent legal counsel or stockholders) that Employee has not
      met
      such applicable standard of conduct, shall create a presumption that Employee
      has not met the applicable standard of conduct.

    

    (c) The
      Company agrees to maintain at all times on behalf of Employee a Director &
Officer Liability Insurance Policy issued by a nationally known insurance
      carrier in a reasonable amount for a comparably sized company in the
      industry.

    

    (d) Promptly
      after receipt by Employee of notice of any claim or the commencement of any
      action or proceeding with respect to which Employee is entitled to indemnity
      hereunder, Employee shall notify the Company in writing of such claim or the
      commencement of such action or proceeding, and the Company shall (i) assume
      the
      defense of such action or proceeding, (ii) employ counsel reasonably
      satisfactory to Employee, and (iii) pay the reasonable fees and expenses of
      such
      counsel. Notwithstanding the preceding sentence, Employee shall be entitled
      to
      employ counsel separate from counsel for the Company and from any other party
      in
      such action if Employee reasonably determines that a conflict of interest exists
      which makes representation by counsel chosen by the Company not advisable.
      In
      such event, the reasonable fees and disbursements of such separate counsel
      for
      Employee shall be paid by the Company to the extent permitted by
      law.

    

    (e) After
      the
      termination of this Agreement and upon the request of Employee, the Company
      agrees to reimburse Employee for all reasonable travel, legal and other
      out-of-pocket expenses related to assisting the Company to prepare for or defend
      against any action, suit, proceeding or claim brought or threatened to be
      brought against the Company or to prepare for or institute any action, suit,
      proceeding or claim to be brought or threatened to be brought against a third
      party arising out of or based upon the transactions contemplated herein and
      in
      providing evidence, producing documents or otherwise participating in any such
      action, suit, proceeding or claim. In the event Employee is required to appear
      after termination of this Agreement at a judicial or regulatory hearing in
      connection with Employee's employment hereunder, or Employee's role in
      connection therewith, the Company agrees to pay Employee a sum, to be mutually
      agreed upon by Employee and the Company, a daily fee and reasonable expenses
      for
      each day of his appearance and each day of preparation therefor.

    

    18.
       Notices.
      All
      demands, notices, and other communications to be given hereunder, if any, shall
      be in writing and shall be sufficient for all purposes if personally delivered,
      sent by facsimile or sent by United States mail to the address below or such
      other address or addresses as such party may hereafter designate in writing
      to
      the other party as herein provided.

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

    

    
      	
              Company:

            	
              Employee:

            
	 	 
	
              Zulu
                Energy Corp.

            	
              Paul
                Stroud

            
	
              122
                N. Main Street

            	
              1745
                Meadowlark Lane

            
	
              Sheridan,
                WY 82801

            	
              Sheridan,
                Wyoming 82801

            
	
              Fax: ________________________________

            	
              Fax: ________________________________

            

    

    

    19. Successors.
      This
      Agreement is personal to Employee, and Employee’s duties hereunder shall not be
      assignable. This Agreement shall inure to the benefit of, and be enforceable
      by,
      Employee's legal representatives. This Agreement shall inure to the benefit
      of
      and be binding upon the Company and its successors and assigns.

     

    20. Amendment.
      This
      Agreement may not be amended or modified otherwise than by a written agreement
      executed by the parties or their respective successors and legal
      representatives.

    

    21. Entire
      Agreement.
      This
      Agreement contains the entire agreement of the parties and there are no other
      promises or conditions in any other agreement, whether oral or written. This
      Agreement supersedes any prior written or oral agreements between the parties.
      This Agreement may be modified or amended, if the amendment is made in writing
      and is signed by both parties. This Agreement is for the unique personal
      services of Employee and is not assignable or delegable, in whole or in part,
      by
      Employee. This Agreement may be assigned or delegated, in whole or in part,
      by
      the Company and, in such case, shall be assumed by and become binding upon
      the
      person, firm, company, corporation or business organization or entity to which
      this Agreement is assigned, subject to the provisions of section 13(d). The
      headings contained in this Agreement are for reference only and shall not in
      any
      way affect the meaning or interpretation of this Agreement. If any provision
      of
      this Agreement shall be held to be invalid or unenforceable for any reason,
      the
      remaining provisions shall continue to be valid and enforceable. The failure
      of
      either party to enforce any provision of this Agreement shall not be construed
      as a waiver or limitation of that party's right to subsequently enforce and
      compel strict compliance with every provision of this Agreement. This Agreement
      may be executed in two or more counterparts, each of which shall be deemed
      an
      original, but all of which together shall constitute one and the same instrument
      and, in pleading or proving any provision of this Agreement, it shall not be
      necessary to produce more than one of such counterparts.

    

    22. Enforcement
      of Agreement.
      If
      either party commences litigation to enforce any provision of this Agreement
      or
      to recover damages for breach hereof, the prevailing party shall be entitled
      to
      recover all expenses of litigation including, without limitation, reasonable
      attorneys’ fees.

    

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

     

    
      	
              ZULU
                ENERGY CORP.:

            	 	
              PAUL
                STROUD:

            
	 	 	 	 
	
              By:

            	
              /s/
                Pierre Besuchet

            	 	
              /s/
                Paul Stroud

            
	
              Name:

            	
              Pierre
                Besuchet

            	 	
              Paul
                Stroud, Employee

            
	
              Title:

            	
              Director

            	 	 

    

     

    
      
        
        

      

      
        8

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