Document:

ex107.htm

INDEPENDENT CONTRACTOR

AGREEMENT

 

AGREEMENT, dated March 28th, 2011 between PUISSANT INDUSTRIES INC. (hereinafter "the Company") and Fred L Akers (hereinafter "the Contractor"). Now, therefore, the parties agree as follows:

 

1. ENGAGEMENT. The Company shall engage the Independent Contractor, and the Contractor shall serve the Company upon the terms and conditions hereinafter set forth.

 

2. TERM. The term of this Agreement shall expire on March 28, 2012, and shall renew automatically for twelve month term unless the Company provides Contractor 30 days advanced written notification of the termination of the Agreement.

 

3. SERVICES. During the period or periods of its engagement hereunder, the Contractor shall serve the Company and shall perform Pipeline, Gathering System and Compressor Station services for properties required or requested in connection with their business, within the limitations outlined.

 

4. COMPENSATION. In consideration for the services outlined above the Company will be obligated to compensate Contractor as follow:

Fee: The Company will pay a non-refundable retainer of 20,000 common shares of the Company.

Reimbursement of Approved Out-of-pocket Expenses: The Company shall be responsible for all pre-approved in writing out-of-pocket, reasonable and necessary business expenses incurred by the Contractor in furtherance of the agreement.

Additional Services: In the event the Contractor is requested to provide additional pre-approved services in writing to the Company, the Contractor will bill separately at $50.00 per hour.

 

5. INDEMNIFICATION AND HOLD HARMLESS PROVISION. The Contractor agrees hereby to indemnify and hold harmless the Company from any and all claims by the Contractor which may arise out of and in the course of the performance of his duties hereunder. Any and all claims for unemployment benefits and/or claims for workers' compensation benefits are hereby expressly waived by the Contractor who agrees to maintain separate policies of liability, health, and accident insurance as may be necessary in connection with the performance of his duties herein.

 

INITIAL:   FA     MH

  

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Independent Contractor Agreement

Puissant Industries, Inc. and Fred L. Akers

Page 2

 

6. RELATIONSHIP BETWEEN PARTIES. The Contractor is engaged by the Corporation only for the purposes and to the extent set forth in the Agreement, and his relation to the Corporation shall, during the period or periods of his engagement and services hereunder, be that of an independent contractor.  The Contractor shall be free to dispose of such portion of his entire time, energy, and skill during regular business hours (as he is not obligated to devote hereunder to the Company) in such matters as he sees fit to such persons, firms, or corporations as he deems advisable. The Contractor shall not be considered as having an employment status or as to being entitled to participate in any plans, arrangements, or distributions by the Company pertaining to or in connection with any insurance, pension, bonus, profit-sharing, or similar benefits for their regular employees.

 

7. PROFESSIONAL RESPONSIBILITY. Nothing in this agreement shall be construed to interfere with or otherwise affect the rendering of services by the Contractor in accordance with his independent and professional judgement. The Contractor shall perform his services in a good and workmanlike manner and in accordance with generally accepted oil and gas field practices.

 

9. GOVERNING LAW. The Agreement shall be governed by and construed in accordance with the laws of the State of Kentucky.

 

10. ENTIRE AGREEMENT. The Agreement contains all of the terms, promises, covenants, conditions and representations made or entered into, by, or between Company and Contractor. This Agreement may not be modified or amended unless such amendment is set forth in writting and executed by both the Contractor and Company with the formalities hereof.

 

In Witness Whereof, the parties hereto have executed the Agreement on the date and year above first written.

 

	 	 	 	 	 
	
/s/ Mark Holbrook

	 	 	
/s/ Fred L Akers

	 
	
Mark Holbrook, President

	 	 	
Fred L Akers "Contractor"

	 
	
PUISSANT INDUSTRIES, INC,

"Company"ex108.htm

ASSIGNMENT OF

OIL AND GAS WELLS AND LEASES

LAUREL COUNTY, KENTUCKY

Whereas A.D.I.D CORPORATION, a Kentucky Corporation, with its mailing address being P.O. Box 337, Emlyn, Kentucky 40730, hereinafter referred to as "ASSIGNOR", and AMERICAN RESOURCE MANAGEMENT, INC., a Wyoming Corporation with its mailing address being P.O. Box 1263, London, Kentucky 40742, hereinafter referred to as "ASSIGNEE".

For and in consideration of Ten Dollars ($10:00) and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, A.D.I.D CORPORATION ("ASSIGNOR") hereby warrant, sell, assign, transfer, set over, and convey unto AMERICAN RESOURCE MANAGEMENT, INC. ("ASSIGNEE") all of its right, title, and interest, representing a One Hundred Percent (100%) Working Interest and One Hundred Percent (100%) Net Revenue Interest ownership, subject to landowner royalty interest, in the following described oil and gas wells and related leases, located in Laurel County, Kentucky:

 

1. Barn Bowling No.1, Permit No.77420, Located 3-H-67, 2220' FNL,1450' FWL

2. Dewey Bowling No.2, Permit No.77542, Located 5-11-67, 225' FSL,580' FEL

3. Winford Bowling No.1, Permit No.77191, Located 3-H-67, 1255' FNL,1330 FEL

4. George Bowling No.1-JD, Permit No.77313, Located 23-1-67, 100' FSL, 180' FWL

5. Raymond Hensley No.1-JD, Permit No.77314, Located 3-H-67, 950 FNL, 2310' FWL

6. Harold Benge No.1, Permit No.77419, Located 23-1-67, 1760' FSL, 1310' FWL

7. Dave Johnson No.1, Permit No.77666, Located 2-H-67, 1100' FNL, 100' FWL

8. R.B. McKnight Heirs No.1, Permit No.77672, Located 23-1-67, 2140' FSL, 2010' FEL

9. Dave Johnson No.2, Permit No.77704, Located 3-H-67, 2175' FNL, 880 FEL

10. E.B. Whitaker No.1, Permit No.77773, Located 22 -1-67, 480' FNL, 1650' FEL

11. E.B. Whitaker No.2, Permit No.77803, Located 19-1-67, 610' FSL, 1660' FEL

12. Clarence Hammons No.1, Permit No.77839, Located 9-H-67, 410' FNL, 2300 FEL

13. Clarence Hammons No.2, Permit No.77840, Located 2-H-67, 590' FSL, 1520' FEL

14. Melvin Hicks No.1, Permit No.77901, Located 241-67, 2160' FSL, 50' FWL

15. Mike Hammons No.1, Permit No.77919, Located 2-11-67, 2290'FSL, 190'FWL

16. George Bowling No.2, Permit No.77935, Located 3-H-67, 580' FNL, 1300' FEL

17. Sudie Garland No.1, Permit No.77938, Located 2-H-67, 2690' FSL, 980' FWL

18. Hiram Cornett No.1, Permit No.77869, Located 19-1-67, 50' FNL, 1500' FEL

19. Ed Durham No.1, Permit No. EF-3413, Located 7-H-67, 1400' FNL, 3700' FWL

20. Abe Bowling No.1, Permit No. EF-3973, Located 7-11-67, 500' FNL, 3300' FWL

21. Carol Ann Becknell No.1, Permit No. N9093, Located 1-11-67, 550' FNL, 1350' FEL

 

 

The "ASSIGNOR" hereby warrants to "ASSIGNEE" that its interest being assigned by this instrument is unencumbered, that it has lawful authority to transfer respective interest, and that "ASSIGNOR" will defend title to the interest being assigned against all persons claiming by, through, or under any assignor. 

 

In witness whereof, this Assignment is made and entered into this 15th day of February, 2010, and effective as of  March 1, 2010.

  

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Page 2

 

Assignment of Oil and Gas Wells and Leases

Laurel County Kentucky

Dated: February 15, 2010 

 

 

	 	
A.D.I.D CORPORATION, 

a Kentucky Corporation, "ASSIGNOR""

	 
	 	 	 	 
	
 

	
By: 

	/s/ Marshall E. Holbrook	 
	 	 	
Marshall E. Holbrook, President

	 
	 	 	 	 
	 	 	 	 

 

	 	
American Resource Management, Inc.'

a Wyoming Corporation, "ASSIGNEE"

	 
	 	 	 	 
	
 

	
By: 

	/s/ Mark E. Holbrook	 
	 	 	
Mark E. Holbrook, President

	 
	 	 	 	 
	 	 	 	 

 

 

 

STATE OF KENTUCKY

COUNTY OF WHITLEY

 

I, Shelby L Adkins, Notary Public in and for the above State and County do hereby certify that the foregoing document was this 15th day of February, 2010, produced before me and acknowledged by Marshall E. Holbrook, as President of A.D.I.D CORPORATION, to be his own act and deed and the act and deed of said Corporation.

 

My commission will expire 6-16-2013     /s/ Shelby Atkins, Notary Public 

 

STATE OF KENTUCKY

COUNTY OF WHITLEY

 

I, Shelby L Adkins, Notary Public in and for the above State and County do hereby certify that the foregoing document was this 15th day of February, 2010, produced before me and acknowledged by Mark E. Holbrook, as President of AMERICAN RESOURCE MANAGEMENT, INC., to be his own act and deed and the act and deed of said Corporation.

 

My commission will expire 6-16-2013     /s/ Shelby Atkins, Notary Public 

 

 

  

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ASSIGNMENT OF

OIL AND GAS WELLS AND LEASES

CLAY COUNTY, KENTUCKY

Whereas A.D.I.D CORPORATION, a Kentucky Corporation, with its mailing address being P.O. Box 337, Emlyn, Kentucky 40730, hereinafter referred to as "ASSIGNOR", and AMERICAN RESOURCE MANAGEMENT, INC., a Wyoming Corporation with its mailing address being P.O. Box 1263, London, Kentucky 40742, hereinafter referred to as "ASSIGNEE".

For and in consideration of Ten Dollars ($10:00) and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, A.D.I.D CORPORATION ("ASSIGNOR") hereby warrant, sell, assign, transfer, set over, and convey unto AMERICAN RESOURCE MANAGEMENT, INC. ("ASSIGNEE") all of its right, title, and interest, representing a One Hundred Percent (100%) Working Interest and One Hundred Percent (100%) Net Revenue Interest ownership, subject to landowner royalty interest, in the following described oil and gas wells and related leases, located in Clay County, Kentucky:

 

1. Barn Bowling No.1, Permit No.77420, Located 3-H-67, 2220' FNL,1450' FWL

2. Dewey Bowling No.2, Permit No.77542, Located 5-H-67, 225' FSL,580' FEL

3. Winford Bowling No.1, Permit No.77191, Located 3-11-67, 1255' FNL,1330 FEL

4. George Bowling No.1-JD, Permit No.77313, Located 23-1-67, 100' FSL, 180' FWL

5. Raymond Hensley No.1-JD, Permit No.77314, Located 3-H-67, 950 FNL, 2310' FWL

6. Harold Benge No.1, Permit No.77419, Located 23-1-67, 1760' FSL, 1310' FWL

7. Dave Johnson No.1, Permit No.77666, Located 2-H-67, 1100' FNL, 100' FWL

8. R.B. McKnight Heirs No.1, Permit No.77672, Located 23-1-67, 2140' FSL, 2010' FEL

9. Dave Johnson No.2, Permit No.77704, Located 3-H-67, 2175' FNL, 880 FEL

10. E.B. Whitaker No.1, Permit No.77773, Located 22-1-67, 480' FNL, 1650' FEL

11. E.B. Whitaker No.2, Permit No.77803, Located 19-1-67, 610' FSL, 1660' FEL

12. Clarence Hammons No.1, Permit No.77839, Located 9-11-67, 410' FNL, 2300 FEL

13. Clarence Hammons No.2, Permit No.77840, Located 241-67, 590' FSL, 1520' FEL

14. Melvin Hicks No.1, Permit No.77901, Located 2-H-67, 2160' FSL, 50' FWL

15. Mike Hammons No.1, Permit No.77919, Located 2-H-67, 2290'FSL, 190'FWL

16. George Bowling No.2, Permit No.77935, Located 3-H-67, 580' FNL, 1300' FEL

17. Sudie Garland No.1, Permit No.77938, Located 2-H-67, 2690' FSL, 980' FWL

18. Hiram Cornett No.1, Permit No.77869, Located 19-1-67, 50' FNL, 1500' FEL

19. Ed Durham No.1, Permit No. EF-3413, Located 7-H-67, 1400' FNL, 3700' FWL

20. Abe Bowling No.1, Permit No. EF-3973, Located 7-11-67, 500' FNL, 3300' FWL

21. Carol Ann Becknell No.1, Permit No. N9093, Located 1-H-67, 550' FNL, 1350' FEL

 

The "ASSIGNOR" hereby warrants to "ASSIGNEE" that its interest being assigned by this instrument is unencumbered, that it has lawful authority to transfer respective interest, and that "ASSIGNOR" will defend title to the interest being assigned against all persons claiming by, through, or under any assignor. 

 

In witness whereof, this Assignment is made and entered into this 15th day of February, 2010, and effective as of  March 1, 2010.

  

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Page 2

 

Assignment of Oil and Gas Wells and Leases

Clay County Kentucky

Dated: February 15, 2010 

 

 

	 	
A.D.I.D CORPORATION, 

a Kentucky Corporation, "ASSIGNOR""

	 
	 	 	 	 
	
 

	
By: 

	/s/ Marshall E. Holbrook	 
	 	 	
Marshall E. Holbrook, President

	 
	 	 	 	 
	 	 	 	 

 

	 	
American Resource Management, Inc.'

a Wyoming Corporation, "ASSIGNEE"

	 
	 	 	 	 
	
 

	
By: 

	/s/ Mark E. Holbrook	 
	 	 	
Mark E. Holbrook, President

	 
	 	 	 	 
	 	 	 	 

 

 

 

STATE OF KENTUCKY

COUNTY OF WHITLEY

 

I, Shelby L Adkins, Notary Public in and for the above State and County do hereby certify that the foregoing document was this 15th day of February, 2010, produced before me and acknowledged by Marshall E. Holbrook, as President of A.D.I.D CORPORATION, to be his own act and deed and the act and deed of said Corporation.

 

My commission will expire 6-16-2013     /s/ Shelby Atkins, Notary Public 

 

STATE OF KENTUCKY

COUNTY OF WHITLEY

 

I, Shelby L Adkins, Notary Public in and for the above State and County do hereby certify that the foregoing document was this 15th day of February, 2010, produced before me and acknowledged by Mark E. Holbrook, as President of AMERICAN RESOURCE MANAGEMENT, INC., to be his own act and deed and the act and deed of said Corporation.

 

My commission will expire 6-16-2013     /s/ Shelby Atkins, Notary Public 

 

 

  

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