Document:

global_s1a5-ex40661.htm

 

    
      

    

    Exhibit 4.6.6.1

     

    

    

    
      	
              Certificate
      # __________

            	
               #
      of Augustine Warrants____________

            

    

    

    This Is
To Certify
That:  ___________________________________________________

    

    Is The
Owner of:
____________________________________________________________

    

    Global
Resource Corporation -  Augustine Common Stock Purchase
Warrant

    

    FOR VALUE
RECEIVED, Global Resource Corporation, a Nevada corporation (the "Company"),
whose address is 408 Bloomfield Drive, Unit # 1, West Berlin, New Jersey 08091
grants the following rights to the above ("Holder").

    

    1. As
used herein, the following terms shall have the following meanings, unless the
context shall otherwise require:

    

    (a) "Common Stock" shall mean the
common stock, par value $0.001, of the Company.

    

    (b) "Corporate Office" shall mean the
office of the Company (or its successor) at which at any particular time its
principal business shall be administered, which office is located at the date
hereof at 408 Bloomfield Drive, Unit # 1, West Berlin, New Jersey
08091.

    

    (c) "Exercise Date" shall mean any date
upon which the Holder shall give the Company a Notice of Exercise, which shall
be deemed the date the Notice of Exercise was first deposited in the U.S. Mails,
if mailed, or the date received by the courier company if delivered by
recognized courier company, or the date received by the Company if otherwise
given or delivered.

    

    (d) "Exercise Price" shall mean the
price to be paid to the Company for each share of Common Stock to be purchased
upon exercise of this Warrant in accordance with the terms hereof, which shall
be $2.75 per
share.

    

    (e) "Expiration Date" shall mean 5:00
PM (Eastern Time) on December 31, 2008.

    

    (f) "SEC"
shall mean the United States Securities and Exchange Commission.

    

    2.1 EXERCISE OF WARRANT: This Warrant
shall entitle Holder to purchase the number of shares of Common Stock (the
"Shares") shown at the head of this Warrant at the Exercise Price. This Warrant
shall be exercisable at any time and from time to time prior to the Expiration
Date (the "Exercise Period") upon execution. This Warrant and the right to
purchase the Shares hereunder shall expire and become void at the Expiration
Date.

    

    2.2 MANNER OF
EXERCISE:                                                                

    

    (a)
Holder may exercise the Warrant at any time and from time to time during the
Exercise Period by delivering to the Company at its Corporate Office (i) a duly
executed Notice of Exercise in substantially the form attached as Appendix 1
hereto and (ii) a bank cashier's or certified check for the aggregate Exercise
Price of the Shares being purchased.

    

    
      
        
           

        

        
           

          
            

          

        

        
           

        

      

    

    

    

    (b) From time to time upon exercise of
this Warrant in accordance with its terms, the Company will cause its transfer
agent to countersign and deliver the stock certificate to the Holder
representing the Shares being purchased pursuant to such exercise subject to
adjustment as described herein.

    

    2.3 TERMINATION: All rights of the
Holder in this Warrant shall terminate on the Expiration Date.

    

    (a) No Right Prior to Exercise: Prior
to its exercise pursuant to Section 2.2 above, this warrant shall not entitle
the Holder to any voting or other rights as holder of Shares.

    

    (b) Adjustments: In case of any
reclassification, capital reorganization, stock dividend, or other change of
outstanding shares of Common Stock, or in case of any consolidation or merger of
the Company with or into another corporation (other than a consolidation or
merger in which the Company is the continuing corporation and which does not
result in any reclassification, capital reorganization, stock dividend, or other
change of outstanding shares of Common Stock), or in case of any sale or
conveyance to another corporation of the property of the Company as, or
substantially as, an entirety (other than a sale/leaseback, mortgage or other
financing transaction), the Company shall cause effective provision to be made
so that the Holder shall have the right thereafter, by exercising this Warrant,
to purchase the kind and number of shares of stock or other securities or
property (including cash) receivable upon such reclassification, capital
reorganization, stock dividend, or other charge, consolidation, merger, sale or
conveyance as the Holder would have been entitled to receive had the Holder
exercised his Warrant in full immediately before such reclassification, capital
reorganization, stock dividend, or other charge, consolidation, merger, sale or
conveyance. Any such provision shall include provision for adjustments that
shall be as nearly equivalent as may be practicable to the adjustments provided
for in this Section 2.3. The foregoing provisions shall similarly apply in
successive reclassifications, capital reorganizations, stock dividends, and
other changes of outstanding shares of Common Stock and to successive
consolidations, mergers, sales or conveyances.

    

    (c) Fractional Shares: No fractional
Shares shall be issuable upon exercise or conversion of this Warrant and the
number of Shares to be issued shall be rounded down to the nearest whole Share.
If a fractional Share interest arises upon any exercise or conversion of the
Warrant, the Company shall eliminate such fractional Share interest by paying
Holder the amount computed by multiplying the fractional interest by the closing
bid price of a full Share on the date of the Notice of Exercise.

    

    4.1 REPRESENTATIONS AND WARRANTIES: The
Company hereby represents and warrants to the Holder as follows:

    

    (a) All Shares which may be issued upon
the exercise of the purchase right represented by this warrant shall, upon
issuance, by duly authorized, validly issued, fully-paid and nonassessable, and
free of any liens and encumbrances except for restriction on transfer provided
for herein or under applicable federal and state securities laws, and not
subject to any pre-emptive rights.

    

    
      
        
           

        

        
           

          
            

          

        

        
           

        

      

    

    

    

    (b) The Company is a corporation duly
organized and validly existing under the laws of the State of Nevada, and has
full power and authority to issue this warrant and to comply with the terms
hereof. The execution, delivery and performance by the Company of its
obligations under this Warrant, including, without limitation, the issuance of
the Shares upon any exercise of the Warrant, have been duly authorized by all
necessary corporate action. This Warrant has been duly executed and delivered by
the Company and is a valid and binding obligation of the Company, enforceable in
accordance with its terms, except as enforcement may be limited by applicable
bankruptcy, insolvency, reorganization or similar laws affecting enforceability
of creditors' rights generally and except as the availability of the remedy of
specific enforcement, injunctive relief or other equitable relief is subject to
the discretion of the court before which any proceeding therefore my be
brought.

    

    (c) The Company is not subject to or
bound by any provision of any certificate or articles of incorporation or
by-laws, mortgage, deed of trust, lease, note, bond, indenture, other instrument
or agreement, license, permit, trust, custodianship, other restriction or any
applicable provision of any law, statue, any court, governmental body,
administrative agency or arbitrator which could prevent or be violated by or
under which there would be a default (or right of termination) as a result of
the execution, delivery and performance by the Company of this
Warrant.

    

    
      
        	
                Dated:

              	
                 Countersigned
      By:

              
	
                Olde
      Monmouth Stock Transfer Co., Inc.

              	 
      
	
                200
      Memorial Parkway,

              	 
      
	
                Atlantic
      Highlands, NJ 07716

              	 
      
	 
      	 
      
	
                Authorized
      Signature

              	 
      

      

    

     

    
      	
              ________________________________________

            	
               
      
                ________________________________________

              

            
	
              Secretary

            	
               President

            

    

    

    Affix
Corporate Seal Belowglobal_s1a5-ex1038.htm

 

    
      

    

    Exhibit 10.38

     

    
      

      

      29th
September, 2009

      Dear
Frank,

       

      Thank you
for your notification of offers pursuant to Section 7 of the Severance Agreement
dated 12th
November, 2008 for GBRC to purchase some of your shares in GBRC at US$0.75 and
US$0.50 per share respectively. GBRC hereby confirms that it does not wish to
exercise its rights of pre-emption in respect of any of the 950,000 GBRC shares
that you will be entitled, as of 1st
October, 2009, to deal with in accordance with Section 7 of the said Severance
Agreement.

       

      In
consideration of the GBRC confirmation, you have agreed:

       

      
        
          	
                   
      

                	
                  1.

                	
                  not
      to sell, assign, transfer, pledge or encumber more than 20,000 shares per
      week commencing on and from the 28th September, 2009 and
      continuing for the following 78 weeks;
and

                

        

        
          	
                   
      

                	
                  2.

                	
                  to
      withdraw the offers referred to in the first paragraph
    above.

                

        

        
          	
                   
      

                	
                  3.

                	
                      
      

                

        

      

       

      In
addition, you confirm that the following transfers of shares will be made from
the 950,000 shares referred to in the second paragraph above: 

       

      
        	
                Perfect
      Marriage Ministries

              	
                22,000
      shares

              
	
                Shawn
      Pringle

              	
                50,000
      shares

              
	
                Bailey
      Pringle

              	
                10,000
      shares

              
	
                Ashlee
      Pringle

              	
                10,000
      shares

              
	
                Elyse
      Thompson

              	
                  30,000
      shares

              
	
                Ryan
      Thompson

              	
                    8,000
      shares

              
	
                Jennifer
      Thompson

              	
                  10,000
      shares

              

      

      

      In all
other respects, the terms and conditions (including rights and obligations) of
the parties in and under the Severance Agreement remain unchanged.

       

      This
letter has no legal effect whatever unless and until you sign, date and deliver
to GBRC the acknowledgment of agreement endorsed on the duplicate copy of this
letter. Upon delivery of the duplicate, this agreement shall take full and final
legal effect as an amendment as contemplated in Section 20 of the Severance
Agreement. 

       

      I would
like to take this opportunity to thank you for your co-operation on the issues
raised by this letter.

      

      Yours
sincerely,

      

      /s/ P.A.
Worthington

      

      P.A.
Worthington

      Acting
Chairman

      Global
Resource Corporation

      
Agreed and
acknowledged this 1 day of October, 2009 by FRANK PRINGLE.

       

      /s/ Frank Pringle

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