Document:

EX-10(mmm)

 Exhibit 10(mmm) 
  

					
	

	 		  	 Alcoa Inc.
  

390 Park Avenue
 New York
NY 10022 – 4608 USA
 Tel: 1 212 836 2600

Fax: 1 212 836 2809

 October 4, 2013 

PERSONAL & CONFIDENTIAL 
 Graeme Bottger 

Hand Delivered 
 Dear Graeme, 

As a follow up to our discussions concerning your employment, and in light of your role as a valued member of our management team, I am writing to offer you a
special retention arrangement. 
 We mutually agree that in exchange for your continued employment through December 31, 2014, and your agreement to
enter into the attached Non-Competition Agreement, the Company will make the following payments in respect of your Australian pension plan tax liability: 

1. Before October 30, 2013, Alcoa will reimburse you for the tax liability for non-expatriate plan accruals for tax years 2009 through
2012. We estimate this tax liability to be approximately $310,000, which grossed up to avoid any additional tax liability is approximately $520,000. 

2. Each year, beginning with your 2013 US tax filings, Alcoa will take into account the increase in your non-expatriate plan accruals and will
reimburse you for this additional tax liability (including gross up) when due. 
 3. At the time you repatriate to Australia, an exit tax
will be payable to the U.S. for your plan accruals for the period from 1999 through 2008. Alcoa will reimburse you for this tax liability estimated to be $380,000, which grossed up to avoid any adverse tax consequences to you is approximately
$700,000. 
 The Company will provide the foregoing payments, upon you providing the Company with evidence of your payment (gross up will be calculated
based on actual tax payments). To the extent you terminate your employment prior to December 31, 2014, except as provided in this agreement, the Company will not provide further payments described above, and you will be obligated to reimburse
the Company for any previous payments made on your behalf. 
 As part of this agreement, and specifically in consideration of the foregoing payments, your
continued employment and retention period, you agree to the terms contained within the attached Non-Competition Agreement. 
 The foregoing payments will
not be treated as compensation for any purpose under any compensation or benefit plan or program of the Company. 

 Graeme Bottger 

 Page
 2
 
  

 The terms of this agreement can be revised in writing by mutual agreement between you and Alcoa. 

We are very pleased to be able to make this offer to you and we hope you will give it favorable consideration. Please indicate your acceptance by signing on
the space indicated below and returning one original to me. 
  

			
	Sincerely,
	
	Alcoa Inc.
		
	By	 	 /s/ William F. Oplinger

		 	William F. Oplinger, Executive Vice President & Chief Financial Officer

 Agreed to and accepted this 8th day of OCTOBER, 2013 

 

			
	By	 	 /s/ Graeme Bottger

		 	Graeme Bottger

  

	Cc:	Mike Barriere, Executive Vice President Human Resourcesf8k021214ex4i_nextgeneration.htm

Exhibit 4.1

 

AGREEMENT

 

This Agreement (the "Agreement") is dated January 22, 2014 and is made by and between Next Generation Energy Corp. (the "Company") and Actual Investments, LLC ("Debt Holder").

 

WHEREAS, Debt Holder presently owns 6,071,429 shares of common stock of the Company;

 

WHEREAS, the Company is indebted to the Company in the amount of $30,000 (the "Debt") as evidenced by that certain Promissory Note dated November 27, 2012;

 

WHEREAS, the Company and Debt Holder have elected to enter into this Agreement, pursuant to which the Debt Holder will convert the Debt into 10,000,000 shares of common stock of the Company (the "Shares") at a conversion price of $0.003 per share;

 

NOW, THEREFORE, in consideration of the mutual conditions and covenants contained in this Agreement, and for other good and valuable consideration, the sufficiency and receipt of which is hereby acknowledged, it is hereby stipulated, consented to and agreed by and between the Company and the Debt Holder as follows:

 

	
  

	
1.

	
Debt Holder will convert the Debt into the Shares, which shall be delivered by the Company to Debt Holder within ten (10) business days of execution of this Agreement.

 

	
  

	
2.

	
Each party shall be responsible for their own attorneys' fees and costs.

 

	
  

	
3.

	
Each party acknowledges and represents that: (a) they have read the Agreement; (b) they clearly understand the Agreement and each of its terms; (c) they fully and unconditionally consent to the terms of this Agreement; (d) they have had the benefit and advice of counsel of their own selection; (e) they have executed this Agreement, freely, with knowledge, and without influence or duress; (f) they have not relied upon any other representations, either written or oral, express or implied, made to them by any person; and (g) the consideration received by them has been actual and adequate.

 

	
  

	
4.

	
This Agreement contains the entire agreement and understanding concerning the subject matter hereof between the parties and supersedes and replaces all prior negotiations, proposed agreement and agreements, written or oral. Each of the parties hereto acknowledges that neither any of the parties hereto, nor agents or counsel of any other party whomsoever, has made any promise, representation or warranty whatsoever, express or implied, not contained herein concerning the subject hereto, to induce it to execute this Agreement and acknowledges and warrants that it is not executing this Agreement in reliance on any promise, representation or warranty not contained herein.

 

  

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5.

	
Debt Holder releases and discharges the Company, the Company's employees, officers, directors, heirs, executors, successors, administrators, attorneys, insurers, and assigns from all actions, cause of action, suits, debts, dues, sums of money, accounts, reckonings, bonds, bills, specialties, covenants, contracts, controversies, agreements, promises, variances, trespasses, damages, judgments, extents, executions, claims, and demands whatsoever, in law, admiralty or equity, against the Company, that Debt Holder or his executors, administrators, successors and assigns ever had, now have or hereafter can, shall or may, have for, upon, or by reason of any matter, cause or thing whatsoever, whether or not known or unknown, from the beginning of the world to the day of the date of this Agreement.

 

	
  

	
6.

	
This Agreement may not be modified or amended in any manner except by an instrument in writing specifically stating that it is a supplement, modification or amendment to the Agreement and signed by each of the parties hereto.

 

	
  

	
7.

	
Should any provision of this Agreement be declared or be determined by any court or tribunal to be illegal or invalid, the validity of the remaining parts, terms or provisions shall not be affected thereby and said illegal or invalid part, term or provision shall be severed and deemed not to be part of this Agreement.

 

	
  

	
8.

	
The Parties agree that this Agreement is governed by the Laws of the State of Virginia and that any and all disputes that may arise from the provisions of this Agreement shall be tried in the Alexandria General District Court, State of Virginia or the US District Court — Eastern District of Virginia. The Parties agree to waive their right to trial by jury for any dispute arising out of this Agreement.

 

  

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9.

	
This Agreement may be executed in facsimile counterparts, each of which, when all parties have executed at least one such counterpart, shall be deemed an original, with the same force and effect as if all signatures were appended to one instrument, but all of which together shall constitute one and the same Agreement.

 

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

 

	Next Generation Energy Corp.	  
	  	  	  
	By: 	/s/ Darryl Reed	  
	Name:	Darryl Reed  	  
	Title:	CEO	 

 

	Actual Investment, LLC	  
	  	  	  
	By: 	/s/ Nicco Reggente 	  
	Name:	Nicco Reggente 	  
	Title:	Manager	 

 

 

3f8k021214ex10i_nextgenerat.htm

Exhibit 10.1

 

AGREEMENT

 

This Agreement (the "Agreement") is dated January 21, 2014 (the "Effective Date") and is made by and between Next Generation Energy Corp. (the "Company"), on one hand, and Joel Sens ("Sens"), Knox County Minerals LLC ("Knox") and Seawright Holdings Inc. ("Seawright" and collectively with the Sens and Knox, the "Sens Parties"), on the other hand. The Sens Parties and the Company will individually be referred to as the Party and jointly as the Parties.

 

WHEREAS, Sens has served as the director, secretary and treasurer of the Company since May 4, 2010.

 

WHEREAS, Sens presently owns 14,650,000 shares of common stock of the Company of which 4.650,000 shares are owned directly by Sens (the "Direct Shares") and 10,000,000 shares of common stock are owned by Seawright Holdings Inc. (the "Indirect Shares").

 

WHEREAS, Sens has agreed to resign as an executive officer and director of the Company and to return the Direct Shares and Indirect Shares to the Company for cancellation and return to treasury.

 

NOW, THEREFORE, in consideration of the mutual conditions and covenants contained in this Agreement, and for other good and valuable consideration, the sufficiency and receipt of which is hereby acknowledged, it is hereby stipulated, consented to and agreed by and between the Company and Sens Parties as follows:.

 

1.         Sens hereby resigns as an executive officer and director as of the date of this Agreement.

 

2.         The Sens Parties agree to return the Direct Shares to the Company for cancellation. Within five (5) days of signing this Agreement, the Sens Parties will deliver the certificate representing the Direct Shares to the Company. The Sens Parties agrees that it will provide any additional information or documentation requested by the Company in order that the Company may take all steps necessary to cancel the Direct Shares.

 

  

  

  

 

3.         The Sens Parties agree to return the Indirect Shares to the Company for cancellation. Within five (5) days of signing this Agreement, the Sens Parties will deliver the certificate representing the Indirect Shares to the Company. The Sens Parties agrees that it will provide any additional information or documentation requested by the Company in order that the Company may take all steps necessary to cancel the Indirect Shares.

 

4.         The Sens Parties relinquishes any right to any compensation owed to him by the Company.

 

5.         In consideration of returning the Indirect Shares to the Company for cancellation, the Company has agreed to reduce the debt Seawright owes the Company by $25,000.

 

6.         The Parties release and discharge the other Party, including each Parties' officers, directors, affiliates, heirs, executors, successors, administrators, attorneys, insurers, and assigns from all actions, cause of action, suits, debts, dues, sums of money, accounts, reckonings, bonds, bills, specialties, covenants, contracts, controversies, agreements, promises, variances, trespasses, damages, judgments, extents, executions, claims, and demands whatsoever, in law, admiralty or equity, against the other Party, that the releasing Party or its executors, administrators, successors and assigns ever had, now have or hereafter can, shall or may, have for, upon, or by reason of any matter, cause or thing whatsoever, whether or not known or unknown, from the beginning of the world to the day of the Effective Date of this Agreement. The Parties warrants and represents that no other person or entity has any interest in the matters released herein, and that it has not assigned or transferred, or purported to assign or transfer. To any person or entity all or any portion of the matters released herein. This release shall not apply to the outstanding debt payable by Seawright Holdings, Inc to the Company.

 

  

2

  

 

7.         The release provisions of this Agreement will apply to the fullest extent of the law, whether in contract, statute, tort (such as negligence).

 

8.         Each party shall be responsible for their own attorneys' fees and costs.

 

9.         Each party acknowledges and represents that: (a) they have read the Agreement; (b) they clearly understand the Agreement and each of its terms; (c) they fully and unconditionally consent to the terms of this Agreement; (d) they have had the benefit and advice of counsel of their own selection; (e) they have executed this Agreement, freely, with knowledge, and without influence or duress; (f) they have not relied upon any other representations, either written or oral, express or implied, made to them by any person; and (g) the consideration received by them has been actual and adequate.

 

10.       This Agreement contains the entire agreement and understanding concerning the subject matter hereof between the parties and supersedes and replaces all prior negotiations, proposed agreement and agreements, written or oral. Each of the parties hereto acknowledges that neither any of the parties hereto, nor agents or counsel of any other party whomsoever, has made any promise, representation or warranty whatsoever, express or implied, not contained herein concerning the subject hereto, to induce it to execute this Agreement and acknowledges and warrants that it is not executing this Agreement in reliance on any promise, representation or warranty not contained herein.

 

11.       This Agreement may not be modified or amended in any manner except by an instrument in writing specifically stating that it is a supplement, modification or amendment to the Agreement and signed by each of the parties hereto.

 

  

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12.       Should any provision of this Agreement be declared or be determined by any court or tribunal to be illegal or invalid, the validity of the remaining parts, terms or provisions shall not be affected thereby and said illegal or invalid part, term or provision shall be severed and deemed not to be part of this Agreement.

 

13.       The Parties agree that this Agreement is governed by the Laws of the State of Virginia and that any and all disputes that may arise from the provisions of this Agreement shall be tried in the Alexandria General District Court. The Parties agree to waive their right to trial by jury for any dispute arising out of this Agreement.

 

14.       This Agreement may be executed in facsimile counterparts, each of which, when all parties have executed at least one such counterpart, shall be deemed an original, with the same force and effect as if all signatures were appended to one instrument, but all of which together shall constitute one and the same Agreement.

 

  

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

 

	Next Generation Energy Corp.	  
	  	  	  
	By: 	/s/ Darryl Reed	  
	Name:	Darryl Reed  	  
	Title:	Chief Executive Officer	 
	 	 	 
	/s/ Joel Sens	 
	Joel Sens	 
	 	 	 
	Knox County Minerals LLC 	 
	 	 	 
	By:	/s/ Joel Sens	 
	Name:	Joel Sens 	 
	Title:	Managing Member	 

 

	Seawright Holdings Inc.	  
	  	  	  
	By: 	/s/ Joel Sens	  
	Name:	Joel Sens	  
	Title:	CEO	 

 

 

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