Document:

Unassociated Document

    NOTES
REPURCHASE AGREEMENT

     

    This
NOTES REPURCHASE AGREEMENT (this “Agreement”)
dated September 22, 2009 is made by and between China Shen Zhou Mining &
Resources, Inc., a Nevada corporation with limited liability having its
registered office at Zeyang Building, No. 166 Fushi Road, Shijingshan District,
Beijing China, whose shares of commons stocks of are listed and traded on
NYSE-AMEX (the “Company”)
and Mountview Path Limited, a corporation incorporated under the laws of the
British Virgin Islands and having its registered office at P.O. Box 957,
Offshore Incorporations Centre, Road Town, Tortola, British Virgin Islands (the
“Seller”).

     

    
      RECITALS:

       

      WHEREAS, the Company has
issued to Citadel Equity Fund Ltd. (“Citadel”),
and Citadel has purchased from the Company, the Company’s 6.75% Senior
Convertible Notes due 2012 of US$28,000,000 principal amount (the “Notes”)
pursuant to that certain Notes Purchase Agreement dated December 21, 2006 by and
between the Company and Citadel (the “Notes Purchase
Agreement”).

       

      WHEREAS, in connection with
such transaction, an Indenture dated December 27, 2006, as amended and
supplemented by the First Supplemental Indenture dated May 17, 2007 and the
Second Supplemental Indenture dated September 28, 2007, (the “Indenture”)
was entered into by and between the Company and The Bank of New York (the “Trustee”)
and a Share Pledge Agreement dated December 27, 2006 (the “Share Pledge
Agreement”) was entered into by and among Ms. Xiao Jing Yu and Mr. Xue
Ming Xu (each a “Pledgor”
and together the “Pledgors”),
The Bank of New York, as collateral agent and Citadel. Capitalized terms that
are not otherwise defined in this Agreement shall have the meanings ascribed to
them in the Indenture or other relevant Transaction Documents (as that term is
defined in the Notes Purchase Agreement), as applicable.

       

      WHEREAS, Citadel and China
Mining Resources Group Limited, being the holding company of Best Tone Holdings
Limited, entered into that certain Amended and Restated Trade Confirmation dated
April 8, 2009, pursuant to which Citadel agreed to sell, transfer and deliver to
China Mining Resources Group Limited all of Citadel’s rights and interest in the
Notes and all rights and interest of Citadel under the Transaction Documents (as
that term is defined in the Notes Purchase Agreement).

       

      WHEREAS, Citadel and Best Tone
Holdings Limited entered into that certain Assignment and Assumption Agreement
dated as of April 8, 2009, pursuant to which Citadel agreed to sell, assign,
transfer and deliver to Best Tone Holdings Limited and Best Tone Holdings
Limited thereby agreed to purchase and assume from Citadel all of the legal and
beneficial right, title and interest of Citadel in the Notes and under the
Transaction Documents (as that term is defined in Notes Purchase
Agreement).

       

      WHEREAS, Best Tone Holdings
Limited and the Seller entered into that certain Trade Confirmation dated August
19, 2009, pursuant to which Best Tone Holdings Limited agreed to sell, transfer
and deliver to the Seller all of Best Tone Holdings Limited’s rights and
interest in the Notes and all rights and interest of Best Tone Holdings Limited
under the Transaction Documents (as that term is defined in the Notes Purchase
Agreement).

       

      WHEREAS, Best Tone Holdings
Limited and the Seller entered into certain Assignment and Assumption Agreement
dated August 19, 2009, pursuant to which Best Tone Holdings Limited agreed
to sell, assign, transfer and deliver to the Seller and the Seller thereby
agreed to purchase and assume from Best Tone Holdings Limited all of the legal
and beneficial right, title and interest of Best Tone Holdings Limited in the
Notes and under the Transaction Documents.

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      WHEREAS, the Company now
wishes to repurchase from the Seller, and the Seller wishes to sell to the
Company, the Notes in an aggregate principal amount of US$28,000,000 (the “Repurchased
Notes”) upon the terms and conditions set forth in this
Agreement.

       

      NOW THEREFORE, in
consideration of the foregoing and the mutual promises, covenants and agreements
of the parties contained herein, the parties hereto agree as
follows:

    

     

    
      	
               
      

            	
              1.

            	
              NOTES
      REPURCHASE; PAYMENT; CANCELLATION

            

    

     

    
      	
               
      

            	
              1.1.

            	
              Repurchase
      and Sale of the Repurchased Notes. At the closing (the “Closing”),
      the Company shall repurchase the Repurchased Notes from the Seller and the
      Seller shall sell to the Company the Repurchased Notes for an aggregate
      purchase price of US$28 million, (the “Repurchase
      Price”) which shall be satisfied by (i) payment in cash of US$8
      million by the Company to the Seller at Closing and (ii) by the Company
      allotting and issuing 5 million shares of the Company’s common stock at an
      issued price of US$4 per share to the Seller at Closing. Notwithstanding
      any terms of this Agreement, the Seller shall be entitled to all rights
      and privileges in respect of the Repurchased Notes as a noteholder up to
      and including the Closing Date (as defined below), except that the right
      to receive any Interest and Additional Interest payable on the Repurchased
      Notes in respect of any Record Date prior to the Closing Date is waived.
      For the avoidance of doubt, except as provided in the preceding sentence,
      the Seller shall not be entitled to any accrued and unpaid Interest on the
      Repurchased Notes.

            

    

     

    
      	
               
      

            	
              1.2.

            	
              Closing.
      The Closing shall occur at the Beijing office of Cadwalader, Wickersham
      & Taft LLP at 2301 China Central Place Tower 2, No. 79 Jianguo Road,
      Beijing, or at such other place as the Company and the Seller shall
      mutually agree, on November 30, 2009 or such other  date as the
      parties mutually agree (the “Closing
      Date”).

            

    

     

    
      	
               
      

            	
              1.3.

            	
              Cancellation
      of Notes. On the Closing Date, the Seller shall, against the payment of
      the Repurchase Price by the Company, surrender to the Trustee the
      respective Repurchased Notes for the prompt cancellation of such
      Repurchased Notes by the Trustee pursuant to Section 2.11 of the
      Indenture. The Company and the Seller hereby agree to take all actions
      necessary and proper in order for the Trustee to promptly cancel such
      Repurchased Notes pursuant to this Agreement and the terms of the
      Indenture.  All costs and expenses for cancellation of the
      Repurchased Notes shall be borne by the
Company.

            

    

     

    
      	
               
      

            	
              2.

            	
              WAIVER
      AND FORBEARANCE

            

    

     

    
      	
               
      

            	
              2.1.

            	
              Waiver.
      The Seller hereby waives, pursuant to Section 6.04 of the Indenture, all
      Defaults, Events of Defaults and their consequences, if any, on the part
      of the Company for failure to duly observe and perform covenants set forth
      in the Indenture (collectively, the “Waived
      Matters”), provided, that this
      waiver shall terminate, and be deemed to have never taken effect, if the
      Company defaults in its obligations to complete the repurchase of the
      Repurchased Notes at the Closing.

            

    

     

    
      
        
        

      

      
        -2-

        
          

        

      

      
        
        

      

    

     

    
      	
               
      

            	
              2.2.

            	
              Forbearance.
      The Seller hereby agrees to forbear, and directs the Trustee to forbear,
      from taking or exercising any Enforcement Action (as defined below) in
      connection with the Waived Matters (the “Forbearance”),
      provided that
      this Section 2.2 shall terminate if the waiver is terminated as provided
      in 2.1 above. “Enforcement Action” means any Default-related right, remedy
      or other action available to the Seller or the Trustee or aiding and
      abetting, assisting, cooperating with or otherwise supporting any other
      Person in taking or exercising any Default-related right, remedy or other
      action available to such Person.

            

    

     

    
      	
               
      

            	
              3.

            	
              FURTHER
      ACTIONS

            

    

     

    
      	
               
      

            	
              3.3.

            	
              The
      Pledge Agreement and the obligations, rights and restrictions thereunder
      and in connection therewith on all of the parties thereto are cancelled as
      of the Closing Date.  The Company and the Seller hereby agree to
      take all actions necessary and proper in order for the Bank of New York,
      as collateral agent, to promptly release the security interest created
      thereunder and to deliver the Pledged Stock, as defined in the Pledge
      Agreement, to the relevant Pledgor. All costs and expenses for the release
      the security interest created thereunder and to deliver the Pledged Stock
      shall be borne by the Company.

            

    

     

    
      	
               
      

            	
              4.

            	
              SELLER’S
      REPRESENTATIONS AND WARRANTIES

            

    

     

    
      	
               
      

            	
              4.1.

            	
              Seller’s
      Authority. The Seller is the beneficial owner of all the Repurchased
      Notes, and has all requisite right, power and authority to enter into this
      Agreement and to consummate the transactions contemplated hereby. This
      Agreement has been duly executed and delivered by the Seller and
      constitutes the legal, valid and binding obligation of the Seller,
      enforceable against the Seller in accordance with its
    terms.

            

    

     

    
      	
               
      

            	
              4.2.

            	
              Title
      to the Repurchased Notes. The Seller represents and warrants to, and
      agrees with, the Company that it is and as of the Closing Date will be the
      beneficial owner of the Repurchased Notes, free and clear of any
      encumbrances, including, without limitation, any charge, claim, condition,
      equitable interest, lien, option, pledge, security interest, right of
      first refusal, or restriction of any kind, including any restriction on
      use, voting, transfer, receipt of income, or exercise of any other
      attribute of ownership.

            

    

     

    
      	
               
      

            	
              4.3.

            	
              Disclosure
      of Information. The Seller has received all the information it considers
      necessary or appropriate to determine whether to sell the Repurchased
      Notes to the Company pursuant to this Agreement. The Seller acknowledges
      (i) the Company has not made any representation or warranty, express or
      implied, except as set forth herein, regarding any aspect of the sale and
      purchase of the Repurchased Notes, the operation or financial condition of
      the Company or the value of the Repurchased Notes, (ii) that except the
      representations and warranties given by the Company as provided in Section
      5, it is not relying upon the Company in making its decision to sell the
      Repurchased Notes to the Company pursuant to this Agreement and (iii) that
      the Company is relying upon the truth of the representations and
      warranties in this Section 4 in connection with the purchase of the
      Repurchased Notes hereunder.

            

    

     

    
      
        
        

      

      
        -3-

        
          

        

      

      
        
        

      

    

     

    
      	
               
      

            	
              5.

            	
              COMPANY’S
      REPRESENTATIONS AND WARRANTIES

            

    

     

    
      	
               
      

            	
              5.1.

            	
              Company’s
      Authority. The Company has all requisite corporate right, power and
      authority to enter into this Agreement and to consummate the transactions
      contemplated hereby. This Agreement has been duly executed and delivered
      by the Company and constitutes the legal, valid and binding obligation of
      the Company, enforceable against the Company in accordance with its
      terms.

            

    

     

    
      	
               
      

            	
              5.2.

            	
              No
      insolvency. The Company has taken no action, and no steps have been taken
      or legal proceedings started or threatened against it for an
      administration, winding-up, examinership, interim or bankruptcy order to
      be made against it or for its dissolution or reorganization or for the
      appointment of a receiver, administrative receiver, examiner, supervisor,
      trustee or similar officer over, or for the taking into possession or
      enforcement of security by an encumbrancer, mortgagee or chargee in
      respect of, all or any part of its assets, undertaking or revenues. The
      Company is not insolvent and is able to pay its debts as and when they
      become due.

            

    

     

    
      	
               
      

            	
              5.3.

            	
              Disclosure
      of Information. The Company has received all the information it considers
      necessary or appropriate to determine whether to purchase the Repurchased
      Notes from the Seller pursuant to this Agreement. The Company acknowledges
      (i) the Seller has not made any representation or warranty, express or
      implied, except as set forth herein, regarding any aspect of the sale and
      purchase of the Repurchased Notes, the operation or financial condition of
      the Company or the value of the Repurchased Notes, (ii) that except the
      representations and warranties given by the Seller as provided in Section
      4, it is not relying upon the Seller in making its decision to purchase
      the Repurchased Notes from the Seller pursuant to this Agreement and (iii)
      that the Seller is relying upon the truth of the representations and
      warranties in this Section 5 in connection with the purchase of the
      Repurchased Notes hereunder.

            

    

     

    
      	
               
      

            	
              5.4.

            	
              The
      issued shares of the common stock of the Company are listed and traded on
      NYSE-AMEX.

            

    

     

    
      	
               
      

            	
              6.

            	
              CONDITIONS
      PRECEDENT TO THE COMPANY’S OBLIGATION TO
CLOSE

            

    

     

    
      	
               
      

            	
              6.1.

            	
              The
      Company’s obligation to repurchase the Repurchased Notes and to take the
      other actions required to be taken by the Company is subject to the
      satisfaction, or waiver, of the following
  conditions:

            

    

     

    (a)
Accuracy of Representations and Warranties. The Seller’s representations and
warranties in Section 4 shall be accurate as of the date of this Agreement, and
shall be accurate as of the Closing Date as if made on the date
thereof.

     

    
      
        
        

      

      
        -4-

        
          

        

      

      
        
        

      

    

     

    (b)
Performance. The Seller shall have duly performed and complied with all of the
obligations that the Seller is required to perform or to comply with pursuant to
this Agreement on or prior to the Closing.

     

    
      	
               
      

            	
              7.

            	
              CONDITIONS
      PRECEDENT TO THE SELLER’S OBLIGATION TO
CLOSE

            

    

     

    
      	
               
      

            	
              7.1.

            	
              The
      Seller’s obligation to sell the Repurchased Notes and to take the other
      actions required to be taken by the Seller is subject to the satisfaction,
      or waiver, of the following
conditions:

            

    

     

    (a)
Accuracy of Representations and Warranties. The Company’s representations and
warranties in Section 5 shall be accurate as of the date of this Agreement, and
shall be accurate as of the Closing Date as if made on the date
thereof.

     

    (b)
Performance. The Company shall have duly performed and complied with all of the
obligations that the Company is required to perform or to comply with pursuant
to this Agreement on or prior to the Closing Date.

     

    
      	
               
      

            	
              8.

            	
              MUTUAL
      RELEASE AND COVENANT NOT TO SUE

            

    

     

    
      	
               
      

            	
              8.1.

            	
              Release
      by the Company. In consideration of the matters referenced in this
      Agreement, the Company on behalf of itself and its respective
      subsidiaries, affiliates, agents, officers, owners, directors, employees,
      counsel, insurers, successors, assigns, heirs, executors or administrators
      (collectively, the “Related
      Parties”), hereby forever release, discharge, cancel, waive, and
      acquit the Seller and its Related Parties of and from any and all rights,
      claims, demands, causes of action, obligations, damages, penalties, fees,
      costs, expenses, and liabilities of any nature whatsoever, whether in law
      or equity (collectively, the “Claims”),
      which the Company has, had or may hereafter have against the Seller or any
      of its Related Parties arising out of, or by reason of, any cause or
      matter, existing as of the date of this Agreement, whether known to the
      Company at the time of execution of this agreement or not, provided,
      however, that this release shall not apply to any breaches by the Seller
      or its Related Parties of this
Agreement.

            

    

     

    
      	
               
      

            	
              8.2.

            	
              Release
      by the Seller.  In consideration of the matters referenced in
      this Agreement, the Seller on behalf of itself and its Related Parties,
      hereby forever release, discharge, cancel, waive, and acquit the Company
      and its Related Parties of and from any and all Claims, which the Seller
      has, had or may hereafter have against the Company or any of its Related
      Parties arising out of, or by reason of, any cause or matter, existing as
      of the date of this Agreement, whether known to the Seller at the time of
      execution of this agreement or not, provided, however, that this release
      shall not apply to any breaches by the Company or its Related Parties of
      this Agreement.

            

    

     

    
      	
               
      

            	
              8.3.

            	
              Covenant
      Not to Sue.  The Company and the Seller further covenant and
      agree not to institute, nor cause to be instituted, nor aid (except as
      required by law) any legal proceeding of any nature whatsoever, except
      that a party hereto may file a legal proceeding against the other solely
      to enforce the terms of this
Agreement.

            

    

     

    
      
        
        

      

      
        -5-

        
          

        

      

      
        
        

      

    

     

    
      	
               
      

            	
              9.

            	
              MISCELLANEOUS

            

    

     

    
      	
               
      

            	
              9.1.

            	
              Governing
      Law. This Agreement shall be governed by and construed exclusively in
      according with the laws of the State of New York without giving effect to
      any choice of law rule that would cause the application of the laws of any
      jurisdiction other than the laws of the State of New York to the rights
      and duties of the parties
hereunder.

            

    

     

    
      	
               
      

            	
              9.2.

            	
              Reliance.  The
      Company and the Seller represent and warrant that: (a) each has relied on
      its own judgment regarding the consideration for and language of this
      Agreement; (b) each has been given a reasonable period of time to consider
      this Agreement, has been advised to consult with independent counsel
      before signing this Agreement, and has consulted with independent counsel
      with respect hereto; (c) no party has in any way coerced or unduly
      influenced any other party to execute this Agreement; (d) no party has
      relied upon any advice or any representation of any other party’s counsel;
      and (e) this Agreement is written in a manner that is understandable to
      all of the parties.

            

    

     

    
      	
               
      

            	
              9.3.

            	
              Entire
      Agreement. This
      Agreement constitutes the entire agreement between the parties hereto
      relating to the subject matter hereof and supersedes all prior agreements
      or understandings, both oral and written, between the parties hereto
      relating to the subject matter
hereof.

            

    

     

    
      	
               
      

            	
              9.4.

            	
              Binding
      Effect; Benefit.
      This Agreement shall inure to the benefit of and be binding upon
      the parties and their respective heirs, successors, legal representatives
      and permitted assigns. Nothing in this Agreement, expressed or implied, is
      intended to confer on any person other than the parties, and their
      respective heirs, successors, legal representatives and permitted assigns,
      any rights, remedies, obligations or liabilities under or by reason of
      this Agreement.

            

    

     

    
      	
               
      

            	
              9.5.

            	
              Assignment. No party may assign,
      delegate or otherwise transfer any of its rights or obligations under this
      Agreement without the written consent of the other
  party.

            

    

     

    
      	
               
      

            	
              9.6.

            	
              Amendment;
      Waiver.

            

    

     

    (a) This
Agreement may not be amended, modified or supplemented except by a written
instrument executed by each of the parties.

     

    (b) No
waiver of any provision of this Agreement shall be effective unless set forth in
a written instrument signed by the party waiving such provision. No failure or
delay by a party in exercising any right, power or privilege hereunder shall
operate as a waiver thereof, nor shall any single or partial exercise of the
same preclude any other or further exercise thereof or the exercise of any other
right, power or privilege. Without limiting the foregoing, no waiver by a party
of any breach by any other party of any provision hereof shall be deemed to be a
waiver of any subsequent breach of that or any other provision hereof. The
rights and remedies herein provided shall be cumulative and not exclusive of any
rights or remedies provided by law.

     

    
      	
               
      

            	
              9.7.

            	
              Notices. Each notice, demand or
      other communication under this Agreement shall be in writing and delivered
      or sent to the relevant party at its address or fax number set out below
      (or such other address or fax number as the addressee has by five (5)
      days’ prior written notice specified to the other party). Any notice,
      demand or other communication so addressed to the relevant party shall be
      deemed to have been delivered (a) if delivered in person or by messenger,
      when proof of delivery is obtained by the delivering party; (b) if sent by
      post within the same country, on the third (3rd) day following posting,
      and if sent by post to another country, on the fifth (5th) day following
      posting, and (c) if given or made by fax, upon dispatch and the receipt of
      a transmission report confirming dispatch. The initial address and
      facsimile for the parties for the purposes of this Agreement
      are:

            

    

     

    
      
        
        

      

      
        -6-

        
          

        

      

      
        
        

      

    

     

    (a) if to
the Company, to:

     

    China
Shen Zhou Mining & Resources, Inc.

    No. 166
Fushi Road Zeyang Tower,

    Shijingshan
District,

    Beijing,

    People’s
Republic of China 100043

    Fax: +86
10 5890 7524

    Attention:
Chief Financial Officer

     

    (b) if to
the Seller, to:

     

    Mountview
Path Limited

    908 China
Merchants Tower,

    168-200
Connaught Road,

    Sheung
Wan, Hong Kong

    Fax: +852
25877199

     

    
      	
               
      

            	
              9.8.

            	
              Counterparts. This Agreement may be
      signed in any number of counterparts including counterparts transmitted by
      facsimile, each of which shall be deemed an original, with the same effect
      as if the signatures thereto and hereto were upon the same
      instrument.

            

    

     

    
      	
               
      

            	
              9.9.

            	
              Severability. If any provision
      contained in this Agreement shall for any reason be determined to be
      partially or wholly invalid, illegal or unenforceable by any court of
      competent jurisdiction, such provision shall be of no force and effect to
      the extent so determined, but the invalidity, illegality or
      unenforceability of such provision shall have no effect upon and shall not
      impair the validity, legality or enforceability of any other provision of
      this Agreement.

            

    

     

    
      	
               
      

            	
              9.10.

            	
              Further
      Assurances. Each
      party shall at its own costs and expenses give such further assurance,
      provide such further information, take such further actions and execute
      and deliver such further documents and instruments as are, in each case,
      within its power to give, provide and take so as to give full effect to
      the provisions of this Agreement.

            

    

     

    
      
        
        

      

      
        -7-

        
          

        

      

      
        
        

      

    

     

    
      	
               
      

            	
              9.11.

            	
              Each
      party hereto shall bear its own costs and expenses incurred in connection
      with the negotiation, preparation and execution of this
      Agreement.

            

    

     

    [Signature
page follows on the next page]

     

    
      
        
        

      

      
        -8-

        
          

        

      

      
        
        

      

    

     

    IN
WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly
executed by their respective authorized officers as of the day and year first
above written.

     

     

    
      
        
          
            
              
                
                  	 	CHINA SHEN ZHOU
      MINING & RESOURCES, INC.	 
	 	 	 	 
	
                           

                        	
                          By:
      

                        	/s/ Xiaojing Yu	 
	 	Name:
      Xiaojing Yu	 
	 	Title:
      Chief Executive Officer	 

                

              

            

          

        

      

    

     

    
       

      
        
          
            
              
                
                  
                    	 	MOUNTVIEW PATH
      LIMITED	 
	 	 	 	 
	
                             

                          	
                            By:
      

                          	/s/ Mingyuan Zhang	 
	 	Name: Mingyuan
      Zhang	 
	 	Title: Director	 

                  

                

              

               

              
                
                  
                  

                

                
                  -9-Unassociated Document

    PCZL
26.06.09

    AGREEMENT

    

    THIS
AGREEMENT (“Agreement”)
is made between Adama Technologies Corp, a Delaware corporation with a principal
place of business at 8 Karl Netter St. Tel-Aviv, Israel, (the “Company”) and each of Mr. Boaz
Benrush  I.D. Number 029579372, residing at 11 Zvi Peretz Haiot
Street, Tel Aviv, Israel, and Mr. Oren Bar-nir Gayer  I.D. Number
038946760, residing at 37 Givat Halevona Street, Reut, Israel (collectively: the
“Directors”).

    

    WITNESSETH:

     

    
      	
              WHEREAS,

            	
              the
      Company wishes to incorporate a fully owned subsidiary, Adama Israel Ltd.
      (the "Subsidiary")
      and nominate the Directors as directors of the Subsidiary;
    and

            

    

     

    
      	
              WHEREAS,

            	
              the
      parties hereto wish to regulate the equity compensation package to the
      Directors in accordance with the terms and conditions set forth
      herein.

            

    

     

    NOW, THEREFORE, in
consideration of the foregoing premises, representations, warranties, covenants
and agreements herein contained, and intending to be legally bound hereby, the
parties do hereby mutually agree as follows:

     

    
      	
              1.

            	
              The Business
      Development Activities

            

    

     

    The
Directors shall, in addition to their on-going duties as directors of the
Subsidiary, take an active part in promoting the following activities of the
Company (the: “Business
Development Activities”):

     

    
      	
               
      

            	
              (a)

            	
              Identify investor/s
      that will invest in the Company by way of equity or debt of at least 1
      Million US Dollars, in one or more
  tranches.

            

    

     

    
      	
               
      

            	
              (b)

            	
              Identify and
      facilitate the recruitment of new senior employees, which will promote the
      Company’s strategic and operational
  plans.

            

    

     

    
      	
               
      

            	
              (c)

            	
              Facilitate and lead
      current negotiations with Solucorp Industries Ltd. (“Solucorp”) with respect to
      amendments in the Exclusive Brownfield License Agreement and/or negotiate
      with Solucorp the possibility to receive licensing rights of Solucorp's
      IFS technology.

            

    

     

    
      	
               
      

            	
              (d)

            	
              Promote the signing of
      the first project of the
Company.

            

    

     

    
      	
              2.

            	
              Equity based
      Compensation payment

            

    

     

    
      	
               
      

            	
              2.1.

            	
              In
      consideration for the Business Development Activities, the Company will
      award the Directors the following equity compensation package based on the
      milestones as set forth in section
2.2.

            

    

     

    
      	
               
      

            	
              2.2.

            	
              The
      Company will, upon execution of this Agreement, adopt an Employee Share
      Option Plan for the grant of shares and options to purchase shares of the
      Company to employees, office holders, consultants and service providers of
      the Company or any subsidiaries or affiliated companies of the Company, in
      the form attached as Exhibit
      2.2 hereto (the "Plan"). The Plan will
      comply with the provisions of Section 102(b)(2) of the Israeli Income Tax
      Ordinance (Capital Gain Option Through a Trustee) and any rules and
      regulations promulgated thereunder including the Income Tax Rules (Tax
      Relief upon the Allotment of Shares to Employees), 2003.  The
      Company will issue to the Directors, under the Plan and subject to the
      provisions of this Agreement, an aggregate of Fourteen Million
      (14,000,000) shares of Common Stock of the Company, which constitute 15.4%
      of the Company's issued and outstanding share capital of the Company on a
      fully diluted basis on the date hereof (the “Shares”).

            

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    The
Shares will be issued to Adv. Amir Rachmani (the " Trustee")  on
behalf of the Directors, in equal parts, within 30 days from the date hereof.
The Shares will be held by the Trustee for at least the appropriate holding
period required under Section 102(b)(2) of the Israeli Income Tax Ordinance
(Capital Gain Option Through a Trustee).

     

    The
foregoing notwithstanding, the Directors' entitlement to the Shares or any part
thereof will only be affected if the Company has achieved the following
milestones (each, a "Milestone"):

     

    
      	
               
      

            	
              (a)

            	
              Two
      Million (2,000,000) Shares upon execution
      of this Agreement.

            

    

     

    
      	
               
      

            	
              (b)

            	
              Three
      Million (3,000,000) Shares if the Company
      has recruited at least one new senior employee within one year from the
      date hereof.

            

    

     

    
      	
               
      

            	
              (c)

            	
              Five
      Million (5,000,000) Shares if the Company
      has entered into  a term-sheet with Solucorp for the amendment
      of the Exclusive Brownfield License Agreement and/or for the grant of
      licensing rights to Solucorp's IFS technology, within one year from the
      date hereof.

            

    

     

    
      	
               
      

            	
              (d)

            	
              Four
      Million (4,000,000) Shares if the Company
      has entered into a contract for its first project, within 2 years from the
      date hereof.

            

    

     

    In the
event that any of the Milestones have not achieved within their respective time
frame, the applicable number of Shares to which the Directors would have been
entitled to had such Milestone been achieved, will be returned to the Company
and the Directors will not be entitled to any rights with respect
thereto.

     

    
      	
               
      

            	
              2.3.

            	
              Upon
      closing of any equity or debt agreement entered into between the Company
      and an investor/s, for the extension to the company (by way of debt or
      equity) of an amount of up to 4 Million USD, in the aggregate under any
      such agreements, the Company will grant to the Directors, under the Plan,
      such amount of additional shares of Common Stock of the Company, so as to
      retain the Directors’ joint shareholdings in the Company of 15.4%, on a
      fully diluted basis (the "Additional Shares"). The
      Directors shall not be entitled to Additional Shares with respect of
      equity or debt agreements to which the Company is a Party if the aggregate
      amount extended to the Company (by way of debt or equity) under any such
      agreements exceeds 4 Million USD.

            

    

     

    
      	
               
      

            	
              2.4.

            	
              The
      Shares granted to the Directors in accordance with this Section will be
      returned to the Company if the Company does not enter into equity or debt
      agreements with an investor/s, under which an aggregate amount of at least
      1 Million US Dollars is extended to the Company (by way of equity or
      debt), during a period of one year following the date
    hereof.

            

    

     

    
      	
               
      

            	
              2.5.

            	
              The
      Shares and the Additional Shares will be granted to the Directors in
      consideration for payment by the Directors of their par value (0.001 USD
      per Share) (the "Par
      Value Amount"). The Par Value Amount will be extended to the
      Directors as a non-recourse loan from the Company and will be repaid to
      the Company only following the sale of the Shares and the Additional
      Shares, if applicable, by the
Directors.

            

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    
      	
              3.

            	
              Expenses and
      payments

            

    

     

    
      	
               
      

            	
              3.1.

            	
              In
      addition to any monetary compensation that will be granted to the
      Directors, the Company and/or the Subsidiary will reimburse the Directors
      for any documented, out-of-pocket expenses from time to time properly
      incurred by the Directors in connection with the Business Development
      Activities, including (but not limited to) necessary traveling
      expenses.

            

    

     

    
      	
               
      

            	
              3.2.

            	
              All
      payments shall include V.A.T., if required by law, which shall be added to
      the amounts or consideration set forth
above.

            

    

     

    
      	
              4.

            	
              Term of the
      Agreement

            

    

     

    This
Agreement shall be effective as of March 1st, 2009
and shall continue until the achievement of the milestones set out in section 2
above or such other time, as mutually agreed in writing by both
parties.

     

    
      	
              5.

            	
              Confidentiality

            

    

     

    The
Directors acknowledges that they will be exposed to confidential information
related to the Company or any subsidiaries or affiliated companies of the
Company in connection with the Business Development Activities and this
Agreement, and therefore, each of the Directors hereby undertakes to preserve
absolute confidentiality of any information disclosed to it by the Company or
any subsidiaries or affiliated companies of the Company in connection with and
as a result of the Business Development Activities rendered by such Director.
This obligation shall also apply to the Directors after termination of this
Agreement.

     

    
      	
              6.

            	
              Indemnity
      Agreements.

            

    

     

    At or
prior to the execution of this Agreement, the Company and the Subsidiary shall
enter into an indemnity agreement with each of the Directors, in the form
attached hereto as Exhibit
6 (the "Indemnity
Agreements"), under which the Company and the Subsidiary will undertake
to indemnify the Directors to the full extent permitted by law.

     

    
      	
              7.

            	
              Directors
      and Officers Insurance.

            

    

     

    At or
prior to the execution of this Agreement, the Subsidiary shall obtain and
maintain in full force and effect, a Directors and Officers insurance policy of
financially sound and reputable insurers, covering the Directors, in scope and
amount acceptable to the Directors.

     

    
      	
              8.

            	
              General

            

    

     

    
      	
               
      

            	
              8.1.

            	
              Neither
      party hereto shall assign any of its rights and obligations hereunder
      without the prior written consent of the other
  party.

            

    

     

    
      	
               
      

            	
              8.2.

            	
              This
      Agreement shall not be modified except by an instrument in writing signed
      by both parties.

            

    

     

    
      	
               
      

            	
              8.3.

            	
              The
      laws of the State of Israel shall govern this Agreement, and that the
      competent court in Tel–Aviv shall have exclusive jurisdiction over any
      matter arising out of, or in connection with, this
    Agreement.

            

    

     

    
      	
               
      

            	
              8.4.

            	
              All
      notices, requests, reports, consents and other communications hereunder
      shall be in writing, and shall be delivered either (i) by hand,
      (ii) by e-mail or facsimile transmission, with a written
      acknowledgement of the recipient, (iii) by courier, or (iv) by
      registered mail, return receipt requested.  Until changed by a
      written notice given by either party to the other party, the addresses of
      the parties shall be as set herein.

            

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    In
witness whereof, the duly authorized representatives of the Company and the
Directors have executed this Agreement as of the date stated below.

     

    Adama
Technologies Corporation

    

    
      By: /s/
Aviram Malik

    

    
      Title:
President

    

    
      Date:
July 22, 2009

    

    

    
      	
              By:
      Boaz Benrush

            	
              By:  /s/
      Oren Bar-nir Gayer

            
	
              Title:
      Director

            	
              Title:
      Director

            
	
              Date:
      July 22, 2009

            	
              Date:
      July 22, 2009

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