Document:

Release and Indemnification Agr

    EXHIBIT
      10.26

     

    RELEASE
      AND INDEMNIFICATION AGREEMENT

     

    THIS
      AGREEMENT is made the 15th day of November, 2005

     

    BETWEEN:

     

    SURGE
      GLOBAL ENERGY (CANADA), LTD.,
      a
      corporation existing under the laws of the Province of Alberta ("Surge
      Canada")

     

    AND

     

    SURGE
      GLOBAL ENERGY, INC.,
      a
      corporation existing under the laws of the state of Delaware ("Surge
      U.S.")

     

    WHEREAS
      Surge U.S. intends to further capitalize Surge Canada on the date
      hereof;

     

    AND
      WHEREAS Surge U.S., Surge Canada and the new management team of Surge Canada
      are
      desirous of fixing the real and contingent liability position of Surge Canada
      at
      the time of completing (the "Closing")
      the
      private placement of $
      aggregate principal amount of 7.0% convertible secured debentures due November
      15, 2007 of Surge Canada on the date hereof (the "Closing
      Date");

     

    AND
      WHEREAS Surge U.S. has represented to Surge Canada that, as at the date hereof,
      the aggregate liabilities of Surge Canada (including monies owed to Surge U.S.)
      do not exceed Cdn. $630,000 excluding: (i) the outstanding compensation of
      Fred
      Kelly in the aggregate amount of Cdn. $120,000; (ii) the direct costs of
      drilling the Test Well (as defined in the Farmout Agreement) pursuant to the
      Farmout Agreement (as defined below); and (iii) any other bona fide liabilities
      of Surge Canada not to exceed Cdn. $250,000 in the aggregate (the "Surge
      Canada Liabilities");

     

    AND
      WHEREAS Surge Canada has on the date hereof paid Surge U.S. Cdn. $630,000 in
      full and final satisfaction of all of the Surge Canada Liabilities;

     

    AND
      WHEREAS Surge U.S. has represented to Surge Canada that prior to the date hereof
      neither it nor Surge Canada has granted any Interest to any Person in connection
      with, nor are there any Interests in, the Farmout Lands, and for greater
      certainty, neither Dynamo Energy Corporation nor Gary Vandergrift have an
      Interest in the Farmout Lands;

     

    AND
      WHEREAS Surge Canada, Surge U.S. and Valiant Trust Company have entered into
      or
      become a party to the escrow agreement substantially in the form attached hereto
      as Schedule "A";

     

    AND
      WHEREAS the foregoing recitals are made as representations and statements of
      fact by Surge U.S. and Surge Canada to the other;

     

    NOW,
      THEREFORE, in consideration of the covenants and agreements herein contained,
      and for other good and valuable consideration (the receipt and sufficiency
      of
      which are hereby acknowledged) the parties agree as follows:

     

    1. Definitions.
      As
      used
      in this Agreement, the following terms have the following meanings:

     

    
      	
              (a)

            	
              "Affiliate"
                has the same meaning as "affiliate" under the Securities
                Act
                (Alberta);

            

    

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	
              (b)

            	
              "Farmout
                Agreement"
                means the farmout agreement dated February 25, 2005 (as amended)
                between
                Surge U.S., Surge Canada, Deep Well Oil & Gas, Inc. and Northern
                Alberta Oil Ltd., whereby Surge Canada has a right to earn a 40%
                working
                interest in the Farmout Lands;

            

    

     

    
      	
              (c)

            	
              "Farmout
                Lands"
                means all right, title, interest and estate of Surge Canada, Surge
                U.S.,
                Deep Well Oil & Gas, Inc. and Northern Alberta Oil Ltd. in the
                Petroleum and Natural Gas Rights in lands set out in Schedule "A"
                to the
                Farmout Agreement;

            

    

     

    
      	
              (d)

            	
              "Interest"
                means a lien, mortgage, pledge, claim, option, encumbrance, charge,
                Security Interest, penalty, royalty, finders' fee, burden, net profits
                interest, carried working interest or other adverse claim of any
                Person in
                the Farmout Lands, but shall specifically exclude claims in the Farmout
                Lands by the Lubicon Lake Indian Nation or any other aboriginal or
                first
                nation group under the laws of
                Canada;

            

    

     

    
      	
              (e)

            	
              "Leases"
                means collectively the fee simple certificates of title, leases,
                licenses,
                permits, royalty agreements and other instruments, by virtue of which
                the
                holder is entitled to drill for, win, take, own or remove the Petroleum
                Substances within, upon or under all or any part of the Farmout Lands
                (or
                any replacement thereof, renewals thereof or leases derived therefrom),
                but only insofar as the same relate to the Farmout
                Lands;

            

    

     

    
      	
              (f)

            	
              "Person"
                means any individual, body corporate, partnership (limited or general),
                trust, trustee, executor or similar official, governmental agency
                or
                authority or other entity;

            

    

     

    
      	
              (g)

            	
              Petroleum
                and Natural Gas Rights"
                means all right, title, interest and estate of Surge Canada, Surge
                U.S.,
                Deep Well Oil & Gas, Inc. or Northern Alberta Oil Ltd. in and to the
                Farmout Lands including, the interests set forth in the Farmout Agreement
                and to the Leases to the extent they apply to the Farmout
                Lands;

            

    

     

    
      	
              (h)

            	
              "Petroleum
                Substances"
                means petroleum, natural gas and all related hydrocarbons including,
                without limitation, all liquid hydrocarbons and all other mineral
                substances, whether liquid, solid or gaseous and whether hydrocarbons
                or
                not (except coal but including sulphur, coalbed methane and hydrogen
                sulphide), produced in association with such petroleum, natural gas
                or
                related hydrocarbons or found in any water produced from the Farmout
                Lands, insofar only as the rights to the same are granted by the
                Leases;
                and

            

    

     

    
      	
              (i)

            	
              "Security
                Interest"
                means any mortgage, charge, pledge, lien, hypothec, assignment by
                way of
                or in effect as security, or security interest whatsoever, but does
                not
                include a right of set off or a set
                off.

            

    

     

    2. Release
      in Favour of Surge Canada.
      In
      consideration of the sum of Cdn. $630,000 and other good and valuable
      consideration given by Surge Canada, the receipt and sufficiency of which is
      hereby acknowledged, Surge U.S. hereby remises, releases and forever discharges
      for itself and its successors and assigns, Surge Canada and each of its
      shareholders, current and former directors, officers, employees, agents and
      representatives and its successors and assigns from any and all actions, causes
      of action, claims and demands whatsoever, whether known or unknown and whether
      or not well founded in fact or in law and of and from any and all suits, debts
      and dues, sums of money, accounts, reckonings, bonds, bills, specialities,
      covenants, controversies, agreements, promises, trespasses, damages, judgments,
      executions, claims and demands whatsoever in law or in equity which Surge U.S.
      or its successors or assigns has had or now has or to which any of them
      hereafter can, shall or may have for, or by reason of any matter, cause or
      thing
      whatsoever, occurring or existing up to and inclusive of the date hereof, except
      for: (i) the outstanding compensation of Fred Kelly in the aggregate amount
      of
      Cdn. $120,000; (ii) the direct costs of drilling the Test Well (as defined
      in
      the Farmout Agreement) pursuant to the Farmout Agreement; and (iii) any other
      bona fide liabilities of Surge Canada not to exceed Cdn. $250,000 in the
      aggregate.

     

     

    
      
        
        

      

      
        1

        
          

        

      

      
        
        

      

    

     

    3. Indemnification
      in Favour of Surge Canada.
      Subject
      to Section 4, Surge U.S. will indemnify and save Surge Canada and each of its
      shareholders and partners, and each of their respective current and former
      directors, officers, employees, agents and representatives (collectively, the
      "Indemnified
      Persons")
      harmless of and from any loss, liability, claim, damage (including incidental
      and consequential damage) or expense (whether or not involving a third-party
      claim) including legal expenses (collectively, "Damages")
      suffered by, imposed upon or asserted against any of the Indemnified Persons
      as
      a result of, in respect of, connected with, or arising out of, under, or
      pursuant to any breach or inaccuracy of any representation or warranty given
      by
      Surge U.S. in the recitals to this Agreement (such Damages are herein called
      "Indemnified
      Loss").

     

    4. Time
      Limitations. The
      representations and warranties of Surge U.S. contained in the recitals to this
      Agreement and the indemnification in favour of Surge Canada provided in Section
      3 of this Agreement will survive the Closing and, notwithstanding the Closing
      and any investigation made by or on behalf of Surge Canada, will continue for
      a
      period of twenty-four (24) months after the Closing Date and any claim in
      respect thereof will be made in writing and will be subject to Section 5 and
      Section 6 except that:

     

    
      	
              (a)

            	
              the
                release in favour of Surge Canada set forth in Section 2 of this
                Agreement
                will survive and continue in full force and effect without limitation
                of
                time;
                and

            

    

     

    
      	
              (b)

            	
              a
                claim for any breach by Surge U.S. of any of the representations
                and
                warranties contained in the recitals to this Agreement involving
                fraud or
                fraudulent misrepresentation may be made at any time subject only
                to
                applicable limitation periods imposed by applicable
                law.

            

    

     

    5. Procedure
      for Indemnification - Other Claims.
      A claim
      for indemnification for any matter not involving a third-party claim may be
      asserted by notice to Surge U.S. from whom indemnification is
      sought. 

     

    6. Indemnification
      Proceedings - Third Party Claims. 

     

    
      	
              (a)

            	
              Promptly
                after receipt by an Indemnified Person under Section 3 of a notice
                of
                commencement of any proceeding against it by a third party, the
                Indemnified Person will, if a claim is to be made against Surge U.S.
                under
                such Section, give notice to Surge U.S. of the commencement of such
                claim.
                The failure to notify Surge U.S. will not relieve Surge U.S. of any
                liability that it may have to any Indemnified Person, except to the
                extent
                that Surge U.S. demonstrates that the defense of such action is prejudiced
                by the Indemnified Person's failure to give such
                notice.

            

    

     

    
      	
              (b)

            	
              If
                any proceeding referred to in Section 6(a)
                (a
                "Proceeding")
                is brought against an Indemnified Person and it gives notice to Surge
                U.S.
                of the commencement of the Proceeding, Surge U.S. will be entitled
                to
                participate in the Proceeding as hereinafter provided. Subject to
                the next
                following sentence, to the extent that Surge U.S. wishes to assume
                the
                defense of the Proceeding with counsel satisfactory to the Indemnified
                Person, it may do so provided it reimburses the Indemnified Person
                for all
                of its out-of-pocket expenses (including solicitor's fees and
                disbursements) arising prior to or in connection with such assumption.
                Surge U.S. may not assume defence of the Proceeding if (i) Surge
                U.S. is
                also a party to the Proceeding and the Indemnified Person determines
                in
                good faith that joint representation would be inappropriate, or (ii)
                Surge
                U.S. fails to provide reasonable assurance to the Indemnified Person
                of
                its financial capacity to defend the Proceeding and provide
                indemnification with respect to the Proceeding. After notice from
                Surge
                U.S. to the Indemnified Person of its election to assume the defense
                of
                the Proceeding as against the Indemnified Person, Surge U.S. will
                not, as
                long as it diligently conducts such defense, be liable to the Indemnified
                Person under this Section 6
                in
                connection with the defense of the Proceeding, other than reasonable
                costs
                of investigation. If Surge U.S. assumes the defense of a Proceeding
                as
                against the Indemnified Person (i) no compromise or settlement of
                such
                claims may be made by Surge U.S. without the Indemnified Person's
                consent
                (which may not be unreasonably withheld) unless (A) there is no finding
                or
                admission of any violation of applicable laws or any violation of
                the
                rights of any person and no adverse effect on any other claims that
                may be
                made against the Indemnified Person, and (B) the sole relief provided
                is
                monetary damages that are paid in full by Surge U.S., and (ii) the
                Indemnified Person will have no liability with respect to any compromise
                or settlement of such claims effected without its consent not to
                be
                unreasonably withheld. If notice is given to Surge U.S. of the
                commencement of any Proceeding and Surge U.S. does not, within thirty
                (30)
                days after receipt of such notice, give notice to the Indemnified
                Person
                of its election to assume the defence of the Proceeding, Surge U.S.
                will
                not be entitled to assume the defence and will be bound by any
                determination made in the Proceeding or any compromise or settlement
                effected by the Indemnified Person acting in good
                faith.

            

    

     

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

    
      	
              (c)

            	
              Notwithstanding
                the foregoing, if an Indemnified Person determines in good faith
                that
                there is a reasonable probability that a Proceeding may adversely
                affect
                it or its Affiliates other than as a result of monetary damages for
                which
                it would be entitled to indemnification under this Agreement, the
                Indemnified Person may, by notice to Surge U.S., assume the exclusive
                right to defend, compromise, or settle the Proceeding. In such case,
                Surge
                U.S. will not be bound by any compromise or settlement effected without
                its consent (which may not be unreasonably withheld) but will be
                bound by
                a final and conclusive judgment of a court of competent
                jurisdiction.

            

    

     

    
      	
              (d)

            	
              Where
                the defence of a Proceeding is being undertaken and controlled by
                Surge
                U.S., the Indemnified Person will use its reasonable best efforts
                to make
                available to Surge U.S. those employees, officers and directors whose
                assistance, testimony or presence is necessary to assist Surge U.S.
                in
                evaluating and defending any such claims. However, Surge U.S. will
                be
                responsible for the reasonable out-of-pocket expenses associated
                with any
                employees, officers and directors made available by the Indemnified
                Person
                to Surge U.S. pursuant to this Section 6(d).

            

    

     

    
      	
              (e)

            	
              With
                respect to any Proceeding at the request of Surge U.S., the Indemnified
                Person will make available to Surge U.S. or its representatives on
                a
                timely basis all documents, records and other materials in the possession
                of the Indemnified Person, at the expense of the Indemnifying Party,
                reasonably required by Surge U.S. for its use in defending any such
                claim
                and will otherwise cooperate on a timely basis with Surge U.S. in
                the
                defence of such claim.

            

    

     

    7. Notices.
      All
      notices, demands and other communications to be given or delivered under or
      by
      reason of the provision of this Agreement will be in writing and be sent to
      the
      parties hereto at the addresses, as set forth below, or at such other address
      of
      such party as such party will have furnished to the other parties in writing
      and
      in accordance with this Section 7:

     

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

     

    
      	
              (a)

            	
              If
                to Surge Canada to:

            

    

     

    Suite
      1818, 144 - 4th Avenue S.W.

    Calgary,
      Alberta

    T2P
      3N4

    

    Attention: Chief
      Executive Officer

    Facsimile
      No.: (403)
      440-1114

     

    
      	
              (b)

            	
              If
                to Surge U.S. to:

            

    

     

    Suite
      410, 12220 El Camino Real

    San
      Diego, California

    92130

     

    Attention: Chairman

    Facsimile
      No.: (858)
      704-5011

     

    All
      notices and other communications will be deemed effectively given as to the
      party to whom it is addressed as of the earliest of the following times: (i)
      when received, (ii) when delivered personally, (iii) one (1) Business Day after
      being delivered by facsimile (with appropriate confirmation of receipt), (iv)
      one (1) Business Day after being timely deposited with an overnight courier
      service with instructions (and the capability) to make delivery on the next
      day,
      (v) if sent internationally, five (5) Business Days after being deposited in
      international mail, first class with postage prepaid, or (vi) if sent
      domestically, five (5) Business Days after being deposited in U.S. or Canadian
      mail, first class with postage prepaid.

     

    8. Business
      Day.
      Business Day means any day, other than a Saturday, Sunday or any other day
      on
      which banks are generally not open for business in either Calgary, Alberta
      or
      San Diego, California. Any day on 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.

     

    9. Governing
      Law.
      This
      Agreement will be construed in accordance with the laws of the Province of
      Alberta and the federal laws of Canada applicable therein. Each of the parties
      hereto attorns to the jurisdiction of the courts of the Province of
      Alberta.

     

    10. Amendment,
      Modification or Waiver.
      This
      Agreement may be amended or modified and any term of this Agreement may be
      waived if such amendment, modification or waiver is in writing and signed by
      all
      parties.

     

    11. Time
      of the Essence.
      Time is
      of the essence of this Agreement.

     

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

     

    12. Counterparts.
      This
      Agreement may be executed in several counterparts, each one of which will
      constitute an original and all collectively will constitute but one instrument.
      Counterparts may be executed either in original or faxed form and the parties
      adopt any signatures received by a receiving fax machine as original signatures
      of the parties; provided, however, than any party providing its signature in
      such manner will promptly forward to the other parties an original of the signed
      copy of this Agreement which was so faxed.

     

    IN
      WITNESS WHEREOF, the parties have been duly executed this Agreement as of the
      date first above written.

     

    

      
        	 	
                SURGE
                  GLOBAL ENERGY (CANADA), LTD.

              
	 	 	 
	 	
                By:
                  

              	
                /s/
                  C.W. Leigh Cassidy 
                  

                

                Executive
                  Chairman and

              
	 	 	
                Chief
                  Executive Officer

              
	 	 	 
	 	
                By:

              	
                /s/
                  Fred W. Kelly 
                  

                

                Chief
                  Operating Officer

              
	 	 	 
	 	 	 
	 	 	 
	 	
                SURGE
                  GLOBAL ENERGY, INC.

              
	 	 	 
	 	
                By:

              	
                /s/
                  David Perez 
                  

                

                Chairman

              
	 	 	 
	 	
                By:

              	
                /s/
                  Fred W. Kelly 
                  

                

                Chief
                  Executive Officer

              

      

    

    
 

    
      
        
           

        

        
        

      

      
        5

        
          

        

      

      
        
        

        
        

      

    

    SCHEDULE
      A

    

    ESCROW
      AGREEMENT

     

    THIS
      AGREEMENT is made the 15th day of November, 2005

     

    AMONG:

     

    VALIANT
      TRUST COMPANY,
      a trust
      company existing under the laws of the Province of Alberta (the "Escrow
      Agent")

     

    AND

     

    SURGE
      GLOBAL ENERGY (CANADA), LTD.,
      a
      corporation existing under the laws of the Province of Alberta ("Surge
      Canada")

     

    AND

     

    SURGE
      GLOBAL ENERGY, INC.,
      a
      corporation existing under the laws of the state of Delaware ("Surge
      U.S.")

     

    WHEREAS
      Surge Canada and Surge U.S. are parties to a release and indemnification
      agreement (the "Indemnification
      Agreement")
      dated
      on even date hereof;

     

    AND
      WHEREAS as security for the indemnification obligations of Surge U.S. pursuant
      to the Indemnification Agreement, Surge U.S. has agreed to deposit 6,300,000
      common shares of Surge Canada (together with all securities and other property
      that may at any time be received or receivable or otherwise distributed or
      distributable in substitution or exchange for any such common shares, including
      without limitation, upon the subdivision, consolidation or reclassification
      thereof, the "Escrowed
      Shares"),
      in
      escrow with the Escrow Agent;

     

    AND
      WHEREAS the parties desire to more specifically set forth their rights and
      obligations with respect to the Escrowed Shares and the distribution and release
      thereof;

     

    AND
      WHEREAS the execution and delivery of this Agreement is a condition to the
      obligations to consummate the transactions contemplated under the
      Indemnification Agreement;

     

    AND
      WHEREAS the foregoing recitals are made as representations and statements of
      fact by Surge U.S. and Surge Canada to the other (collectively, the
      "Escrow
      Participants")
      and
      not by the Escrow Agent;

     

    NOW,
      THEREFORE, in consideration of the covenants and agreements herein contained,
      and for other good and valuable consideration (the receipt and sufficiency
      of
      which are hereby acknowledged) the parties agree as follows:

     

    1. Escrow
      Agent Not a Trustee.
      The
      Escrow Agent accepts duties and responsibilities under this Agreement, and
      the
      Escrowed Shares and any share certificates or other evidence of these
      securities, solely as a custodian, bailee and agent. No trust is intended to
      be,
      or is or will be, created hereby and the Escrow Agent shall owe no duties
      hereunder as trustee.

     

     

    
      
        
        

      

      
        A-1

        
          

        

      

      
        
        

      

    

     

    2. Establishment
      of Escrow Account.
      Surge
      U.S. hereby deposits with the Escrow Agent the Escrowed Shares, together with
      a
      power of attorney in respect thereof, to be held in escrow by the Escrow Agent
      in accordance with the terms of this Agreement and agrees to deliver forthwith
      to the Escrow Agent any certificates evidencing such securities. The Escrow
      Agent accepts the Escrowed Shares and agrees to establish and maintain an
      account (an "Escrow
      Account")
      for
      the Escrowed Shares in its capacity as Escrow Agent pursuant to the terms of
      this Agreement. The Escrowed Shares will, following their deposit with the
      Escrow Agent, remain registered in the name of Surge U.S. and/or a permitted
      transferee of Surge U.S. pursuant to Section 3(d). Surge U.S. agrees to
      provide the Escrow Agent with such additional powers of attorney in respect
      of
      the Escrowed Shares as the Escrow Agent may reasonably request in connection
      with carrying out its duties hereunder.

     

    3. Release
      of Escrow Account.

     

    
      	
              (a)

            	
              Release.
                The Escrowed Shares will only be distributed and released on joint
                written
                instructions signed by Surge U.S. and Surge Canada, including a Release
                Notice as defined in paragraph 3(b). Subject to paragraph 3(g),
                as soon as reasonably practicable (and in any event, not later than
                three
                (3) Business Days), following receipt of the Release Notice or other
                joint
                written instructions signed by Surge U.S. and Surge Canada, the Escrow
                Agent will release all or a portion of the Escrowed Shares from the
                Escrow
                Account in accordance with the Release Notice or the joint written
                instructions.

            

    

     

    
      	
              (b)

            	
              Surge
                Canada and Surge U.S. Obligations.
                If
                Surge Canada and Surge U.S. have agreed to the amount of a claim
                (a
                "Claim")
                that Surge Canada is entitled to recover from Surge U.S. pursuant
                to
                Section 3 of the Indemnification Agreement or if Surge Canada is
                entitled
                to recover a Claim from Surge U.S. pursuant to a judgment of a court
                of
                competent jurisdiction (from which there lies no appeal), Surge Canada
                and
                Surge U.S. agree to deliver a joint notice (a "Release
                Notice")
                to the Escrow Agent in accordance with paragraph 3(a) directing the
                Escrow Agent to release to Surge Canada or its nominee that number
                of
                Escrowed Shares (the "Released
                Shares")
                from the Escrow Account having a Fair Market Value equal to the amount
                of
                such Claim, as set forth in the Release Notice. If the amount of
                the Claim
                exceeds the Fair Market Value of the Escrowed Shares then held in
                the
                Escrow Account, the Release Notice will direct the Escrow Agent to
                release
                all of the Escrowed Shares of Surge U.S. then constituting the Escrow
                Account. On November 15, 2007, Surge Canada and Surge U.S. each agree
                that
                they will deliver a Release Notice to the Escrow Agent directing
                the
                Escrow Agent to release to Surge U.S. the Escrowed Shares remaining
                in the
                Escrow Account having an aggregate Fair Market Value in excess of
                any
                amounts with respect to which Surge Canada (A) is entitled to (as a
                result of a resolved Claim), but has not yet received, disbursement
                from
                the Escrow Account pursuant to this Agreement, and (B) has delivered
                a notice of Claim pursuant to the Indemnification Agreement, as set
                forth
                in the Release Notice. Promptly upon resolution of all Claims pending
                after receipt of the Release Notice on November 15, 2007, Surge Canada
                and
                Surge U.S. will deliver to the Escrow Agent a further Release Notice
                directing the Escrow Agent to release all of the Escrowed Shares
                then
                remaining in the Escrow Account that are not payable to Surge Canada
                in
                accordance with such resolution of such Claims, as set forth in the
                Release Notice. For these purposes, "Fair
                Market Value"
                of an Escrowed Share shall be determined as of the Business Day
                immediately preceding the date the Release Notice is delivered and
                (i) at
                any date prior to a Going Public Transaction shall be the greater
                of $1.00
                per common share of Surge Canada and the price per common share determined
                by the board of directors of Surge Canada, acting reasonably, and
                (ii) at
                any date following a Going Public Transaction will mean the value
                of a
                common share of Surge Canada calculated with reference to the fifteen
                (15)
                day weighted average trading price on the stock exchange on which
                the
                common shares of Surge Canada are then traded; provided if the common
                shares are then traded on more than one stock exchange, then on the
                stock
                exchange on which the largest volume of common shares were traded
                during
                such fifteen (15) consecutive trading day period. The weighted average
                price per common share shall be determined by dividing the aggregate
                sale
                price of all common shares sold on such exchange or market, as the
                case
                may be, during the said fifteen (15) consecutive trading days by
                the total
                number of shares so sold. For purposes of this paragraph 3(b), trading
                day
                means, with respect to a stock exchange, a day on which such exchange
                is
                open for the transaction of business. For these purposes "Going
                Public Transaction"
                means the occurrence of either of: (i) a final receipt for a prospectus
                of
                Surge Canada filed in at least one "jurisdiction" (as listed in Appendix
                B
                to Multi-Lateral Instrument 45-102) has been obtained and the common
                shares of Surge Canada are listed and posted for trading on the Toronto
                Stock Exchange or the TSX Venture Exchange; or (ii) the sale, exchange,
                reorganization or arrangement of all the common shares of Surge Canada
                for, or the sale of all or substantially all of the assets of Surge
                Canada
                in a transaction that results in the holders of common shares of
                Surge
                Canada receiving for their common shares consideration consisting
                of: (A)
                cash; and/or (B) securities which are not subject to resale restrictions
                (except for those applicable to "control persons") in Alberta and
                Ontario
                and are listed and posted for trading on the Toronto Stock Exchange
                or the
                TSX Venture Exchange.

            

    

     

     

    
      
        
        

      

      
        A-2

        
          

        

      

      
        
        

      

    

     

    
      	
              (c)

            	
              Entitlements.
                Prior to the release of the Escrowed Shares from escrow, Surge U.S.
                and
                any transferee of Escrowed Shares (and, for greater clarity, not
                the
                Escrow Agent) will be:

            

    

     

    
      	 	
              (i)

            	
              entitled
                to exercise all rights as a holder of such Escrowed Shares, including,
                without limitation, the right to vote the Escrowed Shares in accordance
                with their terms;

            

    

     

    
      	 	
              (ii)

            	
              paid
                all dividends (other than stock dividends) and like distributions
                declared
                in respect of the Escrowed Shares;
                and

            

    

     

    
      	 	
              (iii)

            	
              entitled
                to any and all benefits and/or rights pertaining to the Escrowed
                Shares,
                which shall be conveyed, transferred or dealt with in such manner
                as Surge
                U.S. and/or the transferee, as the case may be, may from time to
                time
                direct.

            

    

     

    
      	
              (d)

            	
              Transfer
                of Escrowed Shares.
                During the period that any Escrowed Share is held by the Escrow Agent
                pursuant to this Agreement, neither Surge U.S. nor any permitted
                transferee of Surge U.S. (as set forth below) will be entitled to,
                and
                Surge U.S. and each transferee described in clause (i) of this
                Section 3(d) hereby covenants and agrees that it will not, sell or
                dispose of, transfer, relinquish or otherwise deal with any of its
                right,
                title or interest in any of the Escrowed Shares unless (i) such
                transferee is a successor to Surge U.S. by merger, amalgamation,
                combination or otherwise, (ii) prior
                to such transfer Surge U.S. or such transferee, as applicable, delivers
                to
                Surge Canada and the Escrow Agent a certificate of an officer of
                Surge
                U.S. or of such transferee or an officer thereof, as applicable,
                certifying that such transferee is a person or entity referred to
                in
                clause (i) of this Section 3(d), and (iii) such transferee
                agrees in writing with the parties hereto that the transferred Escrowed
                Shares will continue to be held by the Escrow Agent and remain subject
                to
                terms of this Agreement. In the event that a take-over bid as defined
                in
                the Securities
                Act
                (Alberta) is made to all or substantially all the holders of common
                shares
                of Surge Canada by a person, firm or corporation, to acquire common
                shares
                of Surge Canada such that upon completion of such take-over bid that
                person, firm or corporation will control directly or indirectly greater
                than 662⁄3% of the votes attaching to all of the outstanding common shares
                of Surge Canada, Surge Canada and Surge U.S. each agree that in the
                event
                they want to accept the take-over bid, they will deliver a Release
                Notice
                to the Escrow Agent to tender any or all of the Escrowed Shares to
                the
                offeror under the take-over bid and Surge U.S. will deliver to the
                Escrow
                Agent a signed acceptance to the take-over bid and the appropriate
                documentation required by the Escrow Agent, acting reasonably, to
                effect
                the tender in respect of any or all of Surge U.S.'s Escrowed Shares.
                The
                Escrow Agent shall thereupon tender certificates for the specified
                number
                of Escrowed Shares to the offeror under the bid together with such
                signed
                acceptances to such take-over bid. If the Escrowed Shares are not
                taken up
                and paid for pursuant to such take-over bid, they shall be forthwith
                redeposited and held hereunder in accordance with the terms hereof.
                If the
                Escrowed Shares are taken up and paid for pursuant to such take-over
                bid
                the cash and securities received in exchange for such Escrowed Shares
                shall be forthwith redeposited and held hereunder in accordance with
                the
                terms hereof.

            

    

     

     

    
      
        
        

      

      
        A-3

        
          

        

      

      
        
        

      

    

     

    
      	
              (e)

            	
              No
                Limitation of Remedies.
                Surge U.S. hereby acknowledges and agrees that (i) any claims made
                by
                Surge Canada pursuant to the Indemnification Agreement shall be satisfied,
                first, from the Escrow Account and, to the extent that any such claim
                exceeds the Fair Market Value of the Escrowed Shares remaining in
                the
                Escrow Account, (ii) the payment of the Escrow Account to Surge
                Canada pursuant to this Agreement with respect to Damages (as defined
                in
                the Indemnification Agreement) will not limit or otherwise affect
                any
                right of indemnification which Surge Canada or the Indemnified Persons
                (as
                defined in Indemnification Agreement) may otherwise have pursuant
                to
                Section 3 of the Indemnification Agreement, and (iii) to the extent
                that any such claim exceeds the Fair Market Value of the Escrowed
                Shares
                remaining in the Escrow Account, the Escrow Account does not constitute
                an
                exclusive remedy for Damages incurred by Surge Canada or the Indemnified
                Persons pursuant to the Indemnification
                Agreement.

            

    

     

    
      	
              (f)

            	
              Termination.
                This Agreement will terminate when all of the Escrow Account has
                been
                released and distributed in accordance with this Section 3. Upon such
                termination, this Agreement will have no further force and effect,
                except
                that the provisions of Section 3 and Section 4 will survive such
                termination.

            

    

     

    
      	
              (g)

            	
              Surge
                Canada.
                Surge Canada agrees that it will cause to be delivered to the Escrow
                Agent
                such replacement certificates for Escrowed Shares as may be required
                to
                facilitate the release and delivery of Escrowed Shares from time
                to time
                in accordance with the provisions of this Section 3. For greater
                certainty, the Escrow Agent shall have no obligation to release or
                deliver
                any Escrowed Shares in accordance with the provisions of this Section
                3
                until it has received from Surge Canada the necessary replacement
                certificates, if any, required for such release and
                delivery.

            

    

     

    4. Concerning
      the Escrow Agent.
      Notwithstanding any provision contained herein to the contrary, the Escrow
      Agent, including its officers, directors, employees, agents and shareholders
      will:

     

    
      	
              (a)

            	
              not
                be liable for any action taken or omitted under this Agreement so
                long as
                it will have acted in good faith and without gross
                negligence;

            

    

     

    
      	
              (b)

            	
              be
                protected in acting and relying upon any notice, direction, instruction,
                order, certificate, confirmation, request, waiver, consent, receipt,
                statutory declaration or other paper or document (collectively referred
                to
                as "Documents")
                furnished to it and purportedly signed by an officer or person required
                to
                or entitled to execute and deliver to the Escrow Agent any such Document
                in connection with this Agreement, not only as to its due execution
                and
                the validity and effectiveness of its provisions, but also as to
                the truth
                or accuracy of any information therein contained, which it in good
                faith
                believes to be genuine;

            

    

     

    
      	
              (c)

            	
              have
                no responsibility to inquire into or determine the genuineness,
                authenticity, or sufficiency of any securities, cheques, or other
                documents or instruments submitted to it in connection with its duties
                hereunder;

            

    

     

     

    
      
        
        

      

      
        A-4

        
          

        

      

      
        
        

      

    

     

    
      	
              (d)

            	
              have
                no responsibility for seeking, obtaining, compiling, preparing or
                determining the accuracy of any information or document, including
                the
                representative capacity in which a party purports to act, that the
                Escrow
                Agent receives as a condition to a release from escrow or a transfer
                of
                escrow securities within escrow under this
                Agreement;

            

    

     

    
      	
              (e)

            	
              have
                no responsibility for Escrowed Shares that it has released or tendered
                according to this Agreement;

            

    

     

    
      	
              (f)

            	
              be
                entitled to deem the signatories of any documents or instruments
                submitted
                to it hereunder as being those purported to be authorized to sign
                such
                documents or instruments on behalf of the Escrow Participants, and
                will be
                entitled to rely upon the genuineness of the signatures of such
                signatories without inquiry and without requiring substantiating
                evidence
                of any kind;

            

    

     

    
      	
              (g)

            	
              be
                entitled to refrain from taking any action contemplated by this Agreement
                in the event that it becomes aware of any disagreement among the
                Escrow
                Participants as to any facts or as to the happening of any contemplated
                event precedent to such action;

            

    

     

    
      	
              (h)

            	
              have
                the right not to act and will not be liable for refusing to act unless
                it
                has received clear and reasonable documentation that complies with
                the
                terms of this Agreement. Such documentation must not require the
                exercise
                of any discretion or independent
                judgment;

            

    

     

    
      	
              (i)

            	
              have
                no duties except those which are expressly set forth herein, and
                it shall
                not be bound by any notice of claim or demand with respect to, or
                any
                waiver, modification, amendment, termination or rescission of this
                Agreement, unless received by it in writing and executed by Surge
                Canada
                and Surge U.S. and, if its duties are herein affected, unless it
                shall
                have given its prior written
                consent;

            

    

     

    
      	
              (j)

            	
              have
                no responsibility or liability for any diminution in value of any
                assets
                held hereunder which may result from any investments or reinvestment
                made
                in accordance with any provision which may be contained
                herein;

            

    

     

    
      	
              (k)

            	
              be
                entitled to compensation from Surge Canada for its services hereunder
                as
                per Schedule A
                attached hereto, which is made a part hereof, and for reimbursement
                of its
                out-of-pocket expenses including, but not by way of limitation, the
                fees
                and costs of attorneys or agents which it may find necessary to engage
                in
                performance of its duties hereunder. Any amount due under this section
                and
                unpaid after request for such payment will bear interest from the
                expiration of such period at a rate per annum equal to the then current
                rate charged by the Escrow Agent, payable on
                demand;

            

    

     

    
      	
              (l)

            	
              be,
                and hereby is, jointly and severally indemnified and saved harmless
                by the
                Escrow Participants from all losses, liabilities, costs and expenses,
                including, without limitation, attorney and legal counsel fees and
                expenses, which may be incurred by it as a result of its acceptance
                of the
                escrow account or arising from the performance of its duties hereunder,
                unless such losses, liabilities, costs and expenses shall have been
                finally adjudicated to have resulted from the bad faith or gross
                negligence of the Escrow Agent, and such indemnification shall survive
                its
                resignation or removal, or the termination of this
                Agreement;

            

    

     

    
      	
              (m)

            	
              in
                the event that (i) any dispute will arise between the Escrow Participants
                with respect to the disposition or disbursement of any of the assets
                held
                hereunder, or (ii) the Escrow Agent is uncertain as to how to proceed
                in a
                situation not explicitly addressed by the terms of this Agreement
                whether
                because of conflicting demands by the Escrow Participants or otherwise,
                be
                permitted to interplead all of the assets held hereunder into a court
                of
                competent jurisdiction, and thereafter be fully relieved from any
                and all
                liability or obligation with respect to such interpleaded assets
                and the
                cost thereof shall be for the account of the Escrow Participants.
                The
                Escrow Participants further agree to pursue any redress or recourse
                in
                connection with such a dispute, without making the Escrow Agent a
                party to
                same;

            

    

     

     

    
      
        
        

      

      
        A-5

        
          

        

      

      
        
        

      

    

     

    
      	
              (n)

            	
              have
                only those duties as are specifically provided herein, which will
                be
                deemed purely ministerial in nature, and will under no circumstance
                be
                deemed a fiduciary for any of the Escrow Participants. The Escrow
                Agent
                will neither be responsible for, nor chargeable with, knowledge of
                the
                terms and conditions of any other agreement, instrument or document
                among
                the Escrow Participants, in connection herewith, including without
                limitation the Indemnification Agreement. This Agreement sets forth
                all
                matters pertinent to the escrow contemplated hereunder, and no additional
                obligations of the Escrow Agent will be inferred from the terms of
                this
                Agreement or any other agreement. In no event shall the Escrow Agent
                be
                liable, directly or indirectly, for any damages or expenses arising
                out of
                the services provided hereunder, including its own negligence, but
                excluding its own gross negligence and wilful misconduct. In no event
                shall the Escrow Agent be liable to any Escrow Participant for special,
                indirect or consequential damages, or lost profits or loss of business,
                arising under or in connection with this
                Agreement;

            

    

     

    
      	
              (o)

            	
              have
                the right, but not the obligation, to, at the joint and several expense
                of
                the Escrow Participants, consult with legal counsel and other expert
                advisors as may be reasonably required for the purpose of discharging
                its
                duties or determining its rights under this Agreement and may rely
                and act
                upon the advice of such counsel or advisor and will not be liable
                for
                action taken or omitted to be taken in accordance with the advice
                of such
                counsel or advisor or in accordance with any opinion of counsel to
                Surge
                U.S. or Surge Canada addressed and delivered to the Escrow Agent;
                and

            

    

     

    
      	
              (p)

            	
              have
                the right to perform any of its duties hereunder through agents,
                attorneys, custodians or nominees. Surge Canada will pay or reimburse
                the
                Escrow Agent for any reasonable fees, expenses and disbursements
                of such
                counsel or advisors.

            

    

     

    5. Attachment
      of Escrow Fund; Compliance with Legal Orders.
      In the
      event that the Escrow Account will be attached, garnished or levied upon by
      any
      court order, or the delivery thereof will be stayed or enjoined by an order
      of a
      court, or any order, judgment or decree will be made or entered by any court
      order affecting any of the Escrowed Shares deposited under this Agreement,
      the
      Escrow Agent is hereby expressly authorized, in its sole discretion, to obey
      and
      comply with all writs, orders or decrees so entered or issued, which it is
      advised by legal counsel of its own choosing is binding upon it, whether with
      or
      without jurisdiction, and in the event that the Escrow Agent obeys or complies
      with any such writ, order or decree it will not be liable to any of the Escrow
      Participants or to any other person, firm or corporation, by reason of such
      compliance notwithstanding such writ, order or decree be subsequently reversed,
      modified, annulled, set aside or vacated.

     

    6. Resignation
      or Removal of Escrow Agent.
      The
      Escrow Agent may resign as such following the giving of thirty (30) days prior
      written notice to Surge U.S. and Surge Canada. Similarly, the Escrow Agent
      may
      be removed and replaced following the giving of thirty (30) days prior written
      notice to the Escrow Agent by Surge U.S. and Surge Canada. In either event,
      the
      duties of the Escrow Agent will terminate thirty (30) days after receipt of
      such
      notice (or as of such earlier date as may be mutually agreeable); and, upon
      receipt of all amounts owing to it hereunder, the Escrow Agent will then deliver
      the balance of the Escrow Account then in its possession to a successor escrow
      agent as will be appointed by Surge U.S. and Surge Canada as evidenced by a
      written notice filed with the Escrow Agent. If Surge U.S. and Surge Canada
      have
      failed to appoint a successor prior to the expiration of thirty (30) days
      following receipt of the notice of resignation or removal, the Escrow Agent
      may
      appoint a successor or, at the expense of the Escrow Participants, petition
      any
      court of competent jurisdiction for the appointment of a successor escrow agent
      or for other appropriate relief, and any such resulting appointment will be
      binding upon all of the parties hereto. Any new escrow agent appointed under
      these provisions must be a corporation authorized to carry on the business
      of a
      trust company in the Province of Alberta. Any corporation into which the Escrow
      Agent may be merged or with which it may be consolidated or amalgamated or
      any
      corporation resulting from any merger, consolidation or amalgamation to which
      the Escrow Agent shall be a party, shall be the new escrow agent under this
      Agreement without the execution of any instrument or any further act. All
      provisions hereunder limiting the Escrow Agent's liability and all
      indemnifications in its favour shall survive the resignation or removal of
      the
      Escrow Argent.

     

     

    
      
        
        

      

      
        A-6

        
          

        

      

      
        
        

      

    

     

    7. Notices.
      All
      notices, demands and other communications to be given or delivered under or
      by
      reason of the provision of this Agreement will be in writing and be sent to
      the
      parties hereto at the addresses, as set forth below, or at such other address
      of
      such party as such party will have furnished to the other parties in writing
      and
      in accordance with this Section 7:

     

    
      	
              (a)

            	
              If
                to Surge Canada to:

            

    

     

    Suite
      1818, 144 - 4th Avenue S.W.

    Calgary,
      Alberta 

    T2P
      3N4

    

    Attention: Chief
      Executive Officer

    Facsimile
      No.: (403)
      355-3371

     

    
      	
              (b)

            	
              If
                to Surge U.S. to:

            

    

     

    Suite
      410, 12220 El Camino Real, 

    San
      Diego, California 

    92130

     

    Attention: Chairman

    Facsimile
      No.: (858)
      704-5011

     

    
      	
              (c)

            	
              in
                the case of the Escrow Agent:

            

    

     

    Valiant
      Trust Company

    Suite
      310, 606 - 4th Street S.W.

    Calgary
      Alberta 

    T2P
      1T1

     

    Attention: Manager
      Client Relations

    Facsimile
      No.: (403)
      233-2801

     

    All
      notices and other communications will be deemed effectively given as to the
      party to whom it is addressed as of the earliest of the following times: (i)
      when received, (ii) when delivered personally, (iii) one (1) Business Day after
      being delivered by facsimile (with appropriate confirmation of receipt), (iv)
      one (1) Business Day after being timely deposited with an overnight courier
      service with instructions (and the capability) to make delivery on the next
      day,
      (v) if sent internationally, five (5) Business Days after being deposited in
      international mail, first class with postage prepaid, or (vi) if sent
      domestically, five (5) Business Days after being deposited in U.S. or Canadian
      mail, first class with postage prepaid.

     

     

    
      
        
        

      

      
        A-7

        
          

        

      

      
        
        

      

    

     

    8. Business
      Day.
      Business Day means any day, other than a Saturday, Sunday or any other day
      on
      which the Escrow Agent is generally not open for business in Calgary, Alberta.
      Any day on 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.

     

    9. Defined
      Terms.
      Capitalized terms used, but not defined, herein will have the meanings set
      forth
      in the Indemnification Agreement.

     

    10. Governing
      Law.
      This
      Agreement will be construed in accordance with the laws of the Province of
      Alberta and the federal laws of Canada applicable therein. Each of the parties
      hereto attorns to the jurisdiction of the courts of the Province of
      Alberta.

     

    11. Amendment,
      Modification or Waiver.
      This
      Agreement may be amended or modified and any term of this Agreement may be
      waived if such amendment, modification or waiver is in writing and signed by
      all
      parties.

     

    12. Time
      of the Essence.
      Time is
      of the essence of this Agreement.

     

    13. Assignments
      of Interests.
      No
      assignment of the interest of any of the Escrow Participants hereto will be
      binding upon the Escrow Agent unless and until written evidence of such
      assignment in form satisfactory to the Escrow Agent will be filed with and
      accepted by the Escrow Agent.

     

     

     

    
       

      
        A-8

        
          

        

      

      
        
        

         

      

    

    14.
      Counterparts.
      This
      Agreement may be executed in several counterparts, each one of which will
      constitute an original and all collectively will constitute but one instrument.
      Counterparts may be executed either in original or faxed form and the parties
      adopt any signatures received by a receiving fax machine as original signatures
      of the parties; provided, however, than any party providing its signature in
      such manner will promptly forward to the other parties an original of the signed
      copy of this Agreement which was so faxed.

     

    IN
      WITNESS WHEREOF, the parties have been duly executed this Agreement as of the
      date first above written.

     

    
      

        
          	 	
                  VALIANT
                    TRUST COMPANY

                
	 	 	 
	 	
                  By:
                    

                	
                   

                  
                    

                  

                   

                
	 	 	
                   

                
	 	 	 
	 	
                  By:

                	
                   
                    
                    

                  

                   

                

        

         

        
          
            
              	 	
                      SURGE
                        GLOBAL ENERGY (CANADA), LTD.

                    
	 	 	 
	 	
                      By:
                        

                    	
                       

                      
                        

                      

                      Executive
                        Chairman and Chief
                        Executive Officer

                    
	 	 	
                       

                    
	 	 	 
	 	
                      By:

                    	
                       

                      
                        

                      

                       

                    
	 	 	 
	 	 	 
	 	 	 
	 	
                      SURGE
                        GLOBAL ENERGY, INC.

                    
	 	 	 
	 	
                      By:

                    	
                       

                      
                        

                      

                      Chairman

                    
	 	 	 
	 	
                      By:

                    	
                       
                        
                        

                      

                      Chief
                        Executive Officer

                    

            

          

           

           

          A-9Escrow Agr

    EXHIBIT
      10.27

     

    ESCROW
      AGREEMENT

     

    THIS
      AGREEMENT is made the 15th day of November, 2005

     

    AMONG:

     

    VALIANT
      TRUST COMPANY,
      a trust
      company existing under the laws of the Province of Alberta (the "Escrow
      Agent")

     

    AND

     

    SURGE
      GLOBAL ENERGY (CANADA), LTD.,
      a
      corporation existing under the laws of the Province of Alberta ("Surge
      Canada")

     

    AND

     

    SURGE
      GLOBAL ENERGY, INC.,
      a
      corporation existing under the laws of the state of Delaware ("Surge
      U.S.")

     

    WHEREAS
      Surge Canada and Surge U.S. are parties to a release and indemnification
      agreement (the "Indemnification
      Agreement")
      dated
      on even date hereof;

     

    AND
      WHEREAS as security for the indemnification obligations of Surge U.S. pursuant
      to the Indemnification Agreement, Surge U.S. has agreed to deposit 6,300,000
      common shares of Surge Canada (together with all securities and other property
      that may at any time be received or receivable or otherwise distributed or
      distributable in substitution or exchange for any such common shares, including
      without limitation, upon the subdivision, consolidation or reclassification
      thereof, the "Escrowed
      Shares"),
      in
      escrow with the Escrow Agent;

     

    AND
      WHEREAS the parties desire to more specifically set forth their rights and
      obligations with respect to the Escrowed Shares and the distribution and release
      thereof;

     

    AND
      WHEREAS the execution and delivery of this Agreement is a condition to the
      obligations to consummate the transactions contemplated under the
      Indemnification Agreement;

     

    AND
      WHEREAS the foregoing recitals are made as representations and statements of
      fact by Surge U.S. and Surge Canada to the other (collectively, the
      "Escrow
      Participants")
      and
      not by the Escrow Agent;

     

    NOW,
      THEREFORE, in consideration of the covenants and agreements herein contained,
      and for other good and valuable consideration (the receipt and sufficiency
      of
      which are hereby acknowledged) the parties agree as follows:

     

    1. Escrow
      Agent Not a Trustee.
      The
      Escrow Agent accepts duties and responsibilities under this Agreement, and
      the
      Escrowed Shares and any share certificates or other evidence of these
      securities, solely as a custodian, bailee and agent. No trust is intended to
      be,
      or is or will be, created hereby and the Escrow Agent shall owe no duties
      hereunder as trustee.

     

     

    
      
        
        

      

      
        1

        
          

        

      

      
        
        

      

    

     

    2. Establishment
      of Escrow Account.
      Surge
      U.S. hereby deposits with the Escrow Agent the Escrowed Shares, together with
      a
      power of attorney in respect thereof, to be held in escrow by the Escrow Agent
      in accordance with the terms of this Agreement and agrees to deliver forthwith
      to the Escrow Agent any certificates evidencing such securities. The Escrow
      Agent accepts the Escrowed Shares and agrees to establish and maintain an
      account (an "Escrow
      Account")
      for
      the Escrowed Shares in its capacity as Escrow Agent pursuant to the terms of
      this Agreement. The Escrowed Shares will, following their deposit with the
      Escrow Agent, remain registered in the name of Surge U.S. and/or a permitted
      transferee of Surge U.S. pursuant to Section 3(d). Surge U.S. agrees to
      provide the Escrow Agent with such additional powers of attorney in respect
      of
      the Escrowed Shares as the Escrow Agent may reasonably request in connection
      with carrying out its duties hereunder.

     

    3. Release
      of Escrow Account.

     

    
      	
              (a)

            	
              Release.
                The Escrowed Shares will only be distributed and released on joint
                written
                instructions signed by Surge U.S. and Surge Canada, including a Release
                Notice as defined in paragraph 3(b). Subject to paragraph 3(g),
                as soon as reasonably practicable (and in any event, not later than
                three
                (3) Business Days), following receipt of the Release Notice or other
                joint
                written instructions signed by Surge U.S. and Surge Canada, the Escrow
                Agent will release all or a portion of the Escrowed Shares from the
                Escrow
                Account in accordance with the Release Notice or the joint written
                instructions.

            

    

     

    
      	
              (b)

            	
              Surge
                Canada and Surge U.S. Obligations.
                If
                Surge Canada and Surge U.S. have agreed to the amount of a claim
                (a
                "Claim")
                that Surge Canada is entitled to recover from Surge U.S. pursuant
                to
                Section 3 of the Indemnification Agreement or if Surge Canada is
                entitled
                to recover a Claim from Surge U.S. pursuant to a judgment of a court
                of
                competent jurisdiction (from which there lies no appeal), Surge Canada
                and
                Surge U.S. agree to deliver a joint notice (a "Release
                Notice")
                to the Escrow Agent in accordance with paragraph 3(a) directing the
                Escrow Agent to release to Surge Canada or its nominee that number
                of
                Escrowed Shares (the "Released
                Shares")
                from the Escrow Account having a Fair Market Value equal to the amount
                of
                such Claim, as set forth in the Release Notice. If the amount of
                the Claim
                exceeds the Fair Market Value of the Escrowed Shares then held in
                the
                Escrow Account, the Release Notice will direct the Escrow Agent to
                release
                all of the Escrowed Shares of Surge U.S. then constituting the Escrow
                Account. On November 15, 2007, Surge Canada and Surge U.S. each agree
                that
                they will deliver a Release Notice to the Escrow Agent directing
                the
                Escrow Agent to release to Surge U.S. the Escrowed Shares remaining
                in the
                Escrow Account having an aggregate Fair Market Value in excess of
                any
                amounts with respect to which Surge Canada (A) is entitled to (as a
                result of a resolved Claim), but has not yet received, disbursement
                from
                the Escrow Account pursuant to this Agreement, and (B) has delivered
                a notice of Claim pursuant to the Indemnification Agreement, as set
                forth
                in the Release Notice. Promptly upon resolution of all Claims pending
                after receipt of the Release Notice on November 15, 2007, Surge Canada
                and
                Surge U.S. will deliver to the Escrow Agent a further Release Notice
                directing the Escrow Agent to release all of the Escrowed Shares
                then
                remaining in the Escrow Account that are not payable to Surge Canada
                in
                accordance with such resolution of such Claims, as set forth in the
                Release Notice. For these purposes, "Fair
                Market Value"
                of an Escrowed Share shall be determined as of the Business Day
                immediately preceding the date the Release Notice is delivered and
                (i) at
                any date prior to a Going Public Transaction shall be the greater
                of $1.00
                per common share of Surge Canada and the price per common share determined
                by the board of directors of Surge Canada, acting reasonably, and
                (ii) at
                any date following a Going Public Transaction will mean the value
                of a
                common share of Surge Canada calculated with reference to the fifteen
                (15)
                day weighted average trading price on the stock exchange on which
                the
                common shares of Surge Canada are then traded; provided if the common
                shares are then traded on more than one stock exchange, then on the
                stock
                exchange on which the largest volume of common shares were traded
                during
                such fifteen (15) consecutive trading day period. The weighted average
                price per common share shall be determined by dividing the aggregate
                sale
                price of all common shares sold on such exchange or market, as the
                case
                may be, during the said fifteen (15) consecutive trading days by
                the total
                number of shares so sold. For purposes of this paragraph 3(b), trading
                day
                means, with respect to a stock exchange, a day on which such exchange
                is
                open for the transaction of business. For these purposes "Going
                Public Transaction"
                means the occurrence of either of: (i) a final receipt for a prospectus
                of
                Surge Canada filed in at least one "jurisdiction" (as listed in Appendix
                B
                to Multi-Lateral Instrument 45-102) has been obtained and the common
                shares of Surge Canada are listed and posted for trading on the Toronto
                Stock Exchange or the TSX Venture Exchange; or (ii) the sale, exchange,
                reorganization or arrangement of all the common shares of Surge Canada
                for, or the sale of all or substantially all of the assets of Surge
                Canada
                in a transaction that results in the holders of common shares of
                Surge
                Canada receiving for their common shares consideration consisting
                of: (A)
                cash; and/or (B) securities which are not subject to resale restrictions
                (except for those applicable to "control persons") in Alberta and
                Ontario
                and are listed and posted for trading on the Toronto Stock Exchange
                or the
                TSX Venture Exchange.

            

    

     

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

    
      	
              (c)

            	
              Entitlements.
                Prior to the release of the Escrowed Shares from escrow, Surge U.S.
                and
                any transferee of Escrowed Shares (and, for greater clarity, not
                the
                Escrow Agent) will be:

            

    

     

    
      	 	
              (i)

            	
              entitled
                to exercise all rights as a holder of such Escrowed Shares, including,
                without limitation, the right to vote the Escrowed Shares in accordance
                with their terms;

            

    

     

    
      	 	
              (ii)

            	
              paid
                all dividends (other than stock dividends) and like distributions
                declared
                in respect of the Escrowed Shares;
                and

            

    

     

    
      	 	
              (iii)

            	
              entitled
                to any and all benefits and/or rights pertaining to the Escrowed
                Shares,
                which shall be conveyed, transferred or dealt with in such manner
                as Surge
                U.S. and/or the transferee, as the case may be, may from time to
                time
                direct.

            

    

     

    
      	
              (d)

            	
              Transfer
                of Escrowed Shares.
                During the period that any Escrowed Share is held by the Escrow Agent
                pursuant to this Agreement, neither Surge U.S. nor any permitted
                transferee of Surge U.S. (as set forth below) will be entitled to,
                and
                Surge U.S. and each transferee described in clause (i) of this
                Section 3(d) hereby covenants and agrees that it will not, sell or
                dispose of, transfer, relinquish or otherwise deal with any of its
                right,
                title or interest in any of the Escrowed Shares unless (i) such
                transferee is a successor to Surge U.S. by merger, amalgamation,
                combination or otherwise, (ii) prior
                to such transfer Surge U.S. or such transferee, as applicable, delivers
                to
                Surge Canada and the Escrow Agent a certificate of an officer of
                Surge
                U.S. or of such transferee or an officer thereof, as applicable,
                certifying that such transferee is a person or entity referred to
                in
                clause (i) of this Section 3(d), and (iii) such transferee
                agrees in writing with the parties hereto that the transferred Escrowed
                Shares will continue to be held by the Escrow Agent and remain subject
                to
                terms of this Agreement. In the event that a take-over bid as defined
                in
                the Securities
                Act
                (Alberta) is made to all or substantially all the holders of common
                shares
                of Surge Canada by a person, firm or corporation, to acquire common
                shares
                of Surge Canada such that upon completion of such take-over bid that
                person, firm or corporation will control directly or indirectly greater
                than 662⁄3% of the votes attaching to all of the outstanding common shares
                of Surge Canada, Surge Canada and Surge U.S. each agree that in the
                event
                they want to accept the take-over bid, they will deliver a Release
                Notice
                to the Escrow Agent to tender any or all of the Escrowed Shares to
                the
                offeror under the take-over bid and Surge U.S. will deliver to the
                Escrow
                Agent a signed acceptance to the take-over bid and the appropriate
                documentation required by the Escrow Agent, acting reasonably, to
                effect
                the tender in respect of any or all of Surge U.S.'s Escrowed Shares.
                The
                Escrow Agent shall thereupon tender certificates for the specified
                number
                of Escrowed Shares to the offeror under the bid together with such
                signed
                acceptances to such take-over bid. If the Escrowed Shares are not
                taken up
                and paid for pursuant to such take-over bid, they shall be forthwith
                redeposited and held hereunder in accordance with the terms hereof.
                If the
                Escrowed Shares are taken up and paid for pursuant to such take-over
                bid
                the cash and securities received in exchange for such Escrowed Shares
                shall be forthwith redeposited and held hereunder in accordance with
                the
                terms hereof.

            

    

     

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

     

    
      	
              (e)

            	
              No
                Limitation of Remedies.
                Surge U.S. hereby acknowledges and agrees that (i) any claims made
                by
                Surge Canada pursuant to the Indemnification Agreement shall be satisfied,
                first, from the Escrow Account and, to the extent that any such claim
                exceeds the Fair Market Value of the Escrowed Shares remaining in
                the
                Escrow Account, (ii) the payment of the Escrow Account to Surge
                Canada pursuant to this Agreement with respect to Damages (as defined
                in
                the Indemnification Agreement) will not limit or otherwise affect
                any
                right of indemnification which Surge Canada or the Indemnified Persons
                (as
                defined in Indemnification Agreement) may otherwise have pursuant
                to
                Section 3 of the Indemnification Agreement, and (iii) to the extent
                that any such claim exceeds the Fair Market Value of the Escrowed
                Shares
                remaining in the Escrow Account, the Escrow Account does not constitute
                an
                exclusive remedy for Damages incurred by Surge Canada or the Indemnified
                Persons pursuant to the Indemnification
                Agreement.

            

    

     

    
      	
              (f)

            	
              Termination.
                This Agreement will terminate when all of the Escrow Account has
                been
                released and distributed in accordance with this Section 3. Upon such
                termination, this Agreement will have no further force and effect,
                except
                that the provisions of Section 3 and Section 4 will survive such
                termination.

            

    

     

    
      	
              (g)

            	
              Surge
                Canada.
                Surge Canada agrees that it will cause to be delivered to the Escrow
                Agent
                such replacement certificates for Escrowed Shares as may be required
                to
                facilitate the release and delivery of Escrowed Shares from time
                to time
                in accordance with the provisions of this Section 3. For greater
                certainty, the Escrow Agent shall have no obligation to release or
                deliver
                any Escrowed Shares in accordance with the provisions of this Section
                3
                until it has received from Surge Canada the necessary replacement
                certificates, if any, required for such release and
                delivery.

            

    

     

    4. Concerning
      the Escrow Agent.
      Notwithstanding any provision contained herein to the contrary, the Escrow
      Agent, including its officers, directors, employees, agents and shareholders
      will:

     

    
      	
              (a)

            	
              not
                be liable for any action taken or omitted under this Agreement so
                long as
                it will have acted in good faith and without gross
                negligence;

            

    

     

    
      	
              (b)

            	
              be
                protected in acting and relying upon any notice, direction, instruction,
                order, certificate, confirmation, request, waiver, consent, receipt,
                statutory declaration or other paper or document (collectively referred
                to
                as "Documents")
                furnished to it and purportedly signed by an officer or person required
                to
                or entitled to execute and deliver to the Escrow Agent any such Document
                in connection with this Agreement, not only as to its due execution
                and
                the validity and effectiveness of its provisions, but also as to
                the truth
                or accuracy of any information therein contained, which it in good
                faith
                believes to be genuine;

            

    

     

    
      	
              (c)

            	
              have
                no responsibility to inquire into or determine the genuineness,
                authenticity, or sufficiency of any securities, cheques, or other
                documents or instruments submitted to it in connection with its duties
                hereunder;

            

    

     

    
      	
              (d)

            	
              have
                no responsibility for seeking, obtaining, compiling, preparing or
                determining the accuracy of any information or document, including
                the
                representative capacity in which a party purports to act, that the
                Escrow
                Agent receives as a condition to a release from escrow or a transfer
                of
                escrow securities within escrow under this
                Agreement;

            

    

     

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

     

    
      	
              (e)

            	
              have
                no responsibility for Escrowed Shares that it has released or tendered
                according to this Agreement;

            

    

     

    
      	
              (f)

            	
              be
                entitled to deem the signatories of any documents or instruments
                submitted
                to it hereunder as being those purported to be authorized to sign
                such
                documents or instruments on behalf of the Escrow Participants, and
                will be
                entitled to rely upon the genuineness of the signatures of such
                signatories without inquiry and without requiring substantiating
                evidence
                of any kind;

            

    

     

    
      	
              (g)

            	
              be
                entitled to refrain from taking any action contemplated by this Agreement
                in the event that it becomes aware of any disagreement among the
                Escrow
                Participants as to any facts or as to the happening of any contemplated
                event precedent to such action;

            

    

     

    
      	
              (h)

            	
              have
                the right not to act and will not be liable for refusing to act unless
                it
                has received clear and reasonable documentation that complies with
                the
                terms of this Agreement. Such documentation must not require the
                exercise
                of any discretion or independent
                judgment;

            

    

     

    
      	
              (i)

            	
              have
                no duties except those which are expressly set forth herein, and
                it shall
                not be bound by any notice of claim or demand with respect to, or
                any
                waiver, modification, amendment, termination or rescission of this
                Agreement, unless received by it in writing and executed by Surge
                Canada
                and Surge U.S. and, if its duties are herein affected, unless it
                shall
                have given its prior written
                consent;

            

    

     

    
      	
              (j)

            	
              have
                no responsibility or liability for any diminution in value of any
                assets
                held hereunder which may result from any investments or reinvestment
                made
                in accordance with any provision which may be contained
                herein;

            

    

     

    
      	
              (k)

            	
              be
                entitled to compensation from Surge Canada for its services hereunder
                as
                per Schedule A
                attached hereto, which is made a part hereof, and for reimbursement
                of its
                out-of-pocket expenses including, but not by way of limitation, the
                fees
                and costs of attorneys or agents which it may find necessary to engage
                in
                performance of its duties hereunder. Any amount due under this section
                and
                unpaid after request for such payment will bear interest from the
                expiration of such period at a rate per annum equal to the then current
                rate charged by the Escrow Agent, payable on
                demand;

            

    

     

    
      	
              (l)

            	
              be,
                and hereby is, jointly and severally indemnified and saved harmless
                by the
                Escrow Participants from all losses, liabilities, costs and expenses,
                including, without limitation, attorney and legal counsel fees and
                expenses, which may be incurred by it as a result of its acceptance
                of the
                escrow account or arising from the performance of its duties hereunder,
                unless such losses, liabilities, costs and expenses shall have been
                finally adjudicated to have resulted from the bad faith or gross
                negligence of the Escrow Agent, and such indemnification shall survive
                its
                resignation or removal, or the termination of this
                Agreement;

            

    

     

    
      	
              (m)

            	
              in
                the event that (i) any dispute will arise between the Escrow Participants
                with respect to the disposition or disbursement of any of the assets
                held
                hereunder, or (ii) the Escrow Agent is uncertain as to how to proceed
                in a
                situation not explicitly addressed by the terms of this Agreement
                whether
                because of conflicting demands by the Escrow Participants or otherwise,
                be
                permitted to interplead all of the assets held hereunder into a court
                of
                competent jurisdiction, and thereafter be fully relieved from any
                and all
                liability or obligation with respect to such interpleaded assets
                and the
                cost thereof shall be for the account of the Escrow Participants.
                The
                Escrow Participants further agree to pursue any redress or recourse
                in
                connection with such a dispute, without making the Escrow Agent a
                party to
                same;

            

    

     

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

     

    
      	
              (n)

            	
              have
                only those duties as are specifically provided herein, which will
                be
                deemed purely ministerial in nature, and will under no circumstance
                be
                deemed a fiduciary for any of the Escrow Participants. The Escrow
                Agent
                will neither be responsible for, nor chargeable with, knowledge of
                the
                terms and conditions of any other agreement, instrument or document
                among
                the Escrow Participants, in connection herewith, including without
                limitation the Indemnification Agreement. This Agreement sets forth
                all
                matters pertinent to the escrow contemplated hereunder, and no additional
                obligations of the Escrow Agent will be inferred from the terms of
                this
                Agreement or any other agreement. In no event shall the Escrow Agent
                be
                liable, directly or indirectly, for any damages or expenses arising
                out of
                the services provided hereunder, including its own negligence, but
                excluding its own gross negligence and wilful misconduct. In no event
                shall the Escrow Agent be liable to any Escrow Participant for special,
                indirect or consequential damages, or lost profits or loss of business,
                arising under or in connection with this
                Agreement;

            

    

     

    
      	
              (o)

            	
              have
                the right, but not the obligation, to, at the joint and several expense
                of
                the Escrow Participants, consult with legal counsel and other expert
                advisors as may be reasonably required for the purpose of discharging
                its
                duties or determining its rights under this Agreement and may rely
                and act
                upon the advice of such counsel or advisor and will not be liable
                for
                action taken or omitted to be taken in accordance with the advice
                of such
                counsel or advisor or in accordance with any opinion of counsel to
                Surge
                U.S. or Surge Canada addressed and delivered to the Escrow Agent;
                and

            

    

     

    
      	
              (p)

            	
              have
                the right to perform any of its duties hereunder through agents,
                attorneys, custodians or nominees. Surge Canada will pay or reimburse
                the
                Escrow Agent for any reasonable fees, expenses and disbursements
                of such
                counsel or advisors.

            

    

     

    5. Attachment
      of Escrow Fund; Compliance with Legal Orders.
      In the
      event that the Escrow Account will be attached, garnished or levied upon by
      any
      court order, or the delivery thereof will be stayed or enjoined by an order
      of a
      court, or any order, judgment or decree will be made or entered by any court
      order affecting any of the Escrowed Shares deposited under this Agreement,
      the
      Escrow Agent is hereby expressly authorized, in its sole discretion, to obey
      and
      comply with all writs, orders or decrees so entered or issued, which it is
      advised by legal counsel of its own choosing is binding upon it, whether with
      or
      without jurisdiction, and in the event that the Escrow Agent obeys or complies
      with any such writ, order or decree it will not be liable to any of the Escrow
      Participants or to any other person, firm or corporation, by reason of such
      compliance notwithstanding such writ, order or decree be subsequently reversed,
      modified, annulled, set aside or vacated.

     

    6. Resignation
      or Removal of Escrow Agent.
      The
      Escrow Agent may resign as such following the giving of thirty (30) days prior
      written notice to Surge U.S. and Surge Canada. Similarly, the Escrow Agent
      may
      be removed and replaced following the giving of thirty (30) days prior written
      notice to the Escrow Agent by Surge U.S. and Surge Canada. In either event,
      the
      duties of the Escrow Agent will terminate thirty (30) days after receipt of
      such
      notice (or as of such earlier date as may be mutually agreeable); and, upon
      receipt of all amounts owing to it hereunder, the Escrow Agent will then deliver
      the balance of the Escrow Account then in its possession to a successor escrow
      agent as will be appointed by Surge U.S. and Surge Canada as evidenced by a
      written notice filed with the Escrow Agent. If Surge U.S. and Surge Canada
      have
      failed to appoint a successor prior to the expiration of thirty (30) days
      following receipt of the notice of resignation or removal, the Escrow Agent
      may
      appoint a successor or, at the expense of the Escrow Participants, petition
      any
      court of competent jurisdiction for the appointment of a successor escrow agent
      or for other appropriate relief, and any such resulting appointment will be
      binding upon all of the parties hereto. Any new escrow agent appointed under
      these provisions must be a corporation authorized to carry on the business
      of a
      trust company in the Province of Alberta. Any corporation into which the Escrow
      Agent may be merged or with which it may be consolidated or amalgamated or
      any
      corporation resulting from any merger, consolidation or amalgamation to which
      the Escrow Agent shall be a party, shall be the new escrow agent under this
      Agreement without the execution of any instrument or any further act. All
      provisions hereunder limiting the Escrow Agent's liability and all
      indemnifications in its favour shall survive the resignation or removal of
      the
      Escrow Argent.

     

     

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

     

    7. Notices.
      All
      notices, demands and other communications to be given or delivered under or
      by
      reason of the provision of this Agreement will be in writing and be sent to
      the
      parties hereto at the addresses, as set forth below, or at such other address
      of
      such party as such party will have furnished to the other parties in writing
      and
      in accordance with this Section 7:

     

    
      	
              (a)

            	
              If
                to Surge Canada to:

            

    

     

    Suite
      1818, 144 - 4th Avenue S.W.

    Calgary,
      Alberta 

    T2P
      3N4

    

    Attention: Chief
      Executive Officer

    Facsimile
      No.: (403)
      355-3371

     

    
      	
              (b)

            	
              If
                to Surge U.S. to:

            

    

     

    Suite
      410, 12220 El Camino Real, 

    San
      Diego, California 

    92130

     

    Attention: Chairman

    .Facsimile
      No.: (858)
      704-5011

     

    
      	
              (c)

            	
              in
                the case of the Escrow Agent:

            

    

     

    Valiant
      Trust Company

    Suite
      310, 606 - 4th Street S.W.

    Calgary
      Alberta 

    T2P
      1T1

     

    Attention: Manager
      Client Relations

    Facsimile
      No.: (403)
      233-2801

     

    All
      notices and other communications will be deemed effectively given as to the
      party to whom it is addressed as of the earliest of the following times: (i)
      when received, (ii) when delivered personally, (iii) one (1) Business Day after
      being delivered by facsimile (with appropriate confirmation of receipt), (iv)
      one (1) Business Day after being timely deposited with an overnight courier
      service with instructions (and the capability) to make delivery on the next
      day,
      (v) if sent internationally, five (5) Business Days after being deposited in
      international mail, first class with postage prepaid, or (vi) if sent
      domestically, five (5) Business Days after being deposited in U.S. or Canadian
      mail, first class with postage prepaid.

     

     

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

     

    8. Business
      Day.
      Business Day means any day, other than a Saturday, Sunday or any other day
      on
      which the Escrow Agent is generally not open for business in Calgary, Alberta.
      Any day on 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.

     

    9. Defined
      Terms.
      Capitalized terms used, but not defined, herein will have the meanings set
      forth
      in the Indemnification Agreement.

     

    10. Governing
      Law.
      This
      Agreement will be construed in accordance with the laws of the Province of
      Alberta and the federal laws of Canada applicable therein. Each of the parties
      hereto attorns to the jurisdiction of the courts of the Province of
      Alberta.

     

    11. Amendment,
      Modification or Waiver.
      This
      Agreement may be amended or modified and any term of this Agreement may be
      waived if such amendment, modification or waiver is in writing and signed by
      all
      parties.

     

    12. Time
      of the Essence.
      Time is
      of the essence of this Agreement.

     

    13. Assignments
      of Interests.
      No
      assignment of the interest of any of the Escrow Participants hereto will be
      binding upon the Escrow Agent unless and until written evidence of such
      assignment in form satisfactory to the Escrow Agent will be filed with and
      accepted by the Escrow Agent.

     

     

    
      
        
        

      

      
        8

        
          

        

      

      
        
        

      

    

    14.
      Counterparts.
      This
      Agreement may be executed in several counterparts, each one of which will
      constitute an original and all collectively will constitute but one instrument.
      Counterparts may be executed either in original or faxed form and the parties
      adopt any signatures received by a receiving fax machine as original signatures
      of the parties; provided, however, than any party providing its signature in
      such manner will promptly forward to the other parties an original of the signed
      copy of this Agreement which was so faxed.

     

    IN
      WITNESS WHEREOF, the parties have been duly executed this Agreement as of the
      date first above written.

     

    

      
        	 	
                VALIANT
                  TRUST COMPANY

              
	 	 	 
	 	
                By:

              	
                /s/ J.
                  Robert Morris 
                  

                

              
	 	 	 
	 	
                By:

              	
                /s/
                  Concepcion Jalbuena
                  

                

              
	 	 	 
	 	 	 
	 	 	 
	 	
                SURGE
                  GLOBAL ENERGY (CANADA), LTD.

              
	 	 	 
	 	
                By:
                  

              	
                /s/
                  C.W. Leigh Cassidy 
                  

                

                Executive
                  Chairman and Chief Executive Officer

              
	 	 	
                 

              
	 	 	 
	 	
                By:

              	
                /s/
                  Fred W. Kelly 
                  

                

                Chief
                  Operating Officer

              
	 	 	
                 

              
	 	 	 
	 	 	 
	 	
                SURGE
                  GLOBAL ENERGY, INC.

              
	 	 	 
	 	
                By:

              	
                /s/
                  David Perez 
                  

                

                Chairman

              
	 	 	
              
	 	 	 
	 	
                By:

              	
                /s/
                  Fred W. Kelly 
                  

                

                Chief
                  Executive Officer

              
	 	 	
                 

              

      

    

     

     

    9

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00102-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00102-of-00352.parquet"}]]