Document:

f8kjuly3009ex10i_grnenergy.htm

    STOCK
PURCHASE ACQUISITION AGREEMENT

     

    Of

     

    COMANCHE
LIVESTOCK EXCHANGE, L.L.C.

     

    By

     

    GREEN
ENERGY LIVE, INC.

     

     

    

    
      
        	
                SECTION
      1 CLEL / PROPERTY

              	
                1

              
	
                SECTION
      2 CLOSING DATE / DELIVERY / FULL PAYMENT

              	
                2

              
	
                SECTION
      3 PURCHASE PRICE / NOTE / CONDITIONS

              	
                2

              
	
                SECTION
      4 DUE DILIGENCE.

              	
                3

              
	
                SECTION
      5 REPRESENTATIONS AND WARRANTIES OF GELV

              	
                3

              
	
                SECTION
      6 REPRESENTATIONS AND WARRANTIES OF THE SOLE OWNE

              	
                4

              
	
                SECTION
      7 TRANSITION
      OBLIGATIONS                                                                                                                                  

              	
                4

              
	
                SECTION
      8 CONDITIONS
      PRECEDENT                                                                                                                                  

              	
                6

              
	
                SECTION
      9 CLOSING /
      PERFORMANCE                                                                                                                                  

              	
                7

              
	
                SECTION
      10 NOTICE OF DEFAULT AND ADVERSE DEVELOPMENTS

              	
                8

              
	
                SECTION
      11 TERMINATION OF THIS
      AGREEMENT                                                                                                                                  

              	
                9

              
	
                SECTION
      12 GENERAL
      PROVISIONS                                                                                                                                  

              	
                9

              
	 	 
	
                Articles
      of Incorporation of
      CLEL                                                                                                                               

              	
                13

              
	
                The
      Bylaws of
      CLEL                                                                                                                               

              	
                14

              
	
                Audited
      Financial Statements of CLEL, dated FY 2008 and FY
      2007                                                                                                                               

              	
                15

              
	
                Six-month
      or Quarterly Financial Statements for the period January 2009 through June
      2009

              	
                16

              
	
                Real
      Estate Contract included in this
      Acquisition                                                                                                                               

              	
                17

              

      

    

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      

      
      

      This
STOCK PURCHASE ACQUISITION AGREEMENT (the "AGREEMENT") is entered into as when
both parties below sign and comes into effect on the same day by and
between:

      

      
        	
                1.  

              	
                The
      Sole Owner (“Sole Owner”) of Comanche Livestock Exchange, LLC, located at
      Highway 67/377, Comanche, Texas 76442;
and

              

      

       

      

      
        	
                2.  

              	
                Green
      Energy Live, Inc., a Nevada corporation, (“GELV”), located at 1740 44th
      Street, Suite 5-230, Wyoming, Michigan
  49519-6443.

              

      

      

      WHEREAS:
Sole Owner has the intention to exchange or sell all of their interests
(“Interests”) in CLEL to GELV, and GELV has the intention to purchase those same
Interests.

      

      NOW,
THEREFORE, upon their own separate consultation, the Parties hereby enter into
this Agreement as follows:

       

      
        	
                SECTION
      1  

              	
                CLEL
      / PROPERTY

              

      

       

      
        	
                1.1  

              	
                Main CLEL
      Description.  The assets represented under the Interests
      to be exchanged under this Agreement are Comanche Livestock Exchange, Inc,
      and its subsidiaries. (“CLEL ”), as well as all tangible/intangible
      property owned by CLEL.

              

      

      

      
        	
                a)  

              	
                CLEL
      is in the business of auctioning for large and small cattle
      producers.

              

      

       

       

      
        
           

        

        
          1

          
            

          

        

        
           

        

      

      
 

      
        	
                1.2  

              	
                Real Property as described in
      Exhibit E.  An asset also purchased under this Agreement
      is the land/property as described under Exhibit
  E

              

      

      

      
        	
                1.3  

              	
                Other
      Assets.  All CLEL assets associated with the running of
      CLEL, including, but not limited to the name usage and goodwill, licenses,
      contracts, franchises, and other miscellaneous and intangible
      personal/CLEL property associated with
CLEL.

              

      

       

      
        	
                SECTION
      2  

              	
                CLOSING
      DATE / DELIVERY / FULL PAYMENT

              

      

       

      
        	
                2.1  

              	
                Date, time and place of
      closing.  This transaction shall close 1) upon signing
      this Agreement, the attached employment agreement with Dean Cagle, the
      attached Comanche Real Estate contract, and the attached Comanche
      Promissory Note for Nine Hundred Fifty Thousand
      Dollars  (US$950,000) Note (“Note”)(See Section 3), and 2) upon
      delivery of a Fifty Thousand Dollars (US$50,000.00) (Earnest Money) in the
      form of Green Energy Live, Inc. stock issuance to
  Seller.

              

      

      

      
        	
                2.2  

              	
                Delivery.

              

      

      

      
        	
                a)  

              	
                Delivery,
      which includes the Interests, property, and operations (the
      “Deliverables”), shall take place upon closing under Section
      2.1.  Those Deliverables shall be returned in full if Note is
      not paid per Section 3.

              

      

      

      
        	
                2.3  

              	
                Restoration.  If
      any part of CLEL is damaged or destroyed by fire or other casualty loss,
      Sole Owner shall restore CLEL to its previous condition as soon as
      reasonably possible, but, in any event, by the Closing
    Date.

              

      

      

      
        	
                a)  

              	
                If
      Sole Owner is unable to do so without fault, GELV may either (1) terminate
      this contract and any and all payments shall be refunded to GELV in full,
      or (2) the parties may agree to extend the time for performance up to 45
      days and the Closing Date shall be extended as necessary or (3) GELV may
      accept CLEL in its damaged condition and accept an assignment of insurance
      proceeds. If CLEL is totally destroyed by fire, windstorm, or other
      catastrophe this contract shall become null and void and the Earnest
      Interests shall be refunded to GELV in
full.

              

      

       

      
        	
                SECTION
      3  

              	
                PURCHASE
      PRICE / NOTE / CONDITIONS

              

      

       

      

      
        	
                a)  

              	
                Sole Owner’ Interest
      Purchase.  Sole Owner shall have satisfied all clauses
      under this agreement.  The following are the stock purchase
      conditions:

              

      

      

      
        	
                i.  

              	
                Purchase Amount. One
      Million Dollars (US$1,000,000) as follows: Fifty Thousand Dollars
      (US$50,000.00) (“Earnest Money”) in the form of Green Energy Live, Inc.
      stock issuance to Seller and Nine hundred Fifty Thousand Dollars
      (US$950,000.00) Note (“Note”) for all interests of Sole Owner in
      CLEL.

              

      

      

      
        	
                ii.  

              	
                Note Payment Terms. The
      Note shall be paid in the following
manner:

              

      

      

      
        	
                1.  

              	
                US$450,000
      paid approximately 60 days after effective SEC registration of
      GELV;

              

      

      
        	
                2.  

              	
                US$250,000
      within 12 months of Closing Date;
and

              

      

      
        	
                3.  

              	
                Balance
      of US$250,000 within 24 months of Closing
Date.

              

      

       

       

       

      
        
           

        

        
          2

          
            

          

        

        
           

        

      

      
 

      
        	
                iii.  

              	
                Financial Audits and SEC
      Registration.  Sole Owner agree and represent their
      understanding that payment of the Note and this Agreement is dependent
      upon CLEL completing a PCAOB certified financial audit, paid for and
      handled by GELV, and a GELV successful registration statement with the
      Securities and Exchange Commission (“SEC”) by September 15,
      2009.  See Section 3(c).

              

      

      

      
        	
                b)  

              	
                The Sale Amount
      Allocation.  $850,000 shall be applied to the Property as
      described under Section 1.2 and $150,000 shall be applied to the Interests
      as described in Section 1.1.

              

      

      

      
        	
                c)  

              	
                Successful
      Audit.  The Purchase
      contemplated under this agreement by GELV is dependent upon a successful
      audit of the financial status of CLEL and its assets
      that GELV is fully reporting on the Securities and
      Exchange Commission (SEC).  The audit shall be conducted
      by an accounting firm chosen by GELV.  GELV shall pay all
      expenses associated to this condition.  In the event GELV
      are unable to obtain approval of the SEC, Sole Owner may terminate this
      contract subject to the provisions of Paragraph
  11.

              

      

      

      
        	
                d)  

              	
                Purchase Price based on No Debt
      in CLEL.  The Purchase Price is
      based upon no debt in CLEL.  Any debt incurred prior to
      acquisition of Interests shall be deducted from the Note, unless Sole
      Owner personally retains such debt.  Any debt incurred for
      normal business operations, after
      acquisition of Interests, shall be incurred by CLEL and
    GELV.

              

      

       

      
        	
                SECTION
      4  

              	
                DUE
      DILIGENCE.

              

      

       

      
        	
                4.1  

              	
                Site
      Inspection.  This Agreement is subject to site inspection
      of the property under Section 1.  The property and assets under
      Section 1 shall be in reasonable condition for proper use in the business
      of CLEL.  A site inspection shall take place concurrently with
      the audit of CLEL and shall have the same termination provisions under
      Section 11.3(a)

              

      

      

      
        	
                4.2  

              	
                Exhibits. By the Closing
      Date, Sole Owner shall provide all documents requested by GELV including
      but not limited to the following:

              

      

      

      
        	
                a)  

              	
                Articles
      of Incorporation of CLEL (“Exhibit
A”).

              

      

      

      
        	
                b)  

              	
                The
      By-Laws of CLEL. (“Exhibit B”).

              

      

      

      
        	
                c)  

              	
                Audited
      Full Year Financial Statements of CLEL dated FY 2008 and FY 2007 (“Exhibit
      C”).

              

      

      

      
        	
                d)  

              	
                Six-month
      or Quarterly Financial Statements for the period January 2009 through June
      2009 (“Exhibit D”).

              

      

      

      
        	
                e)  

              	
                Real
      Estate Contract included in this Acquisition (“Exhibit
  E”).

              

      

      

      
        	
                f)  

              	
                Additional
      information listed in SECTION 7

              

      

       

       

      
        
           

        

        
          3

          
            

          

        

        
           

        

      

       

       

      
        	
                SECTION
      5  

              	
                REPRESENTATIONS
      AND WARRANTIES OF GELV

              

      

       

      
        	
                5.1  

              	
                GELV
      warrants that its stock is registered on a public
  market.

              

      

      

      
        	
                5.2  

              	
                GELV
      shall have the means to perform financial audits of
  CLEL.

              

      

       

      
        	
                SECTION
      6  

              	
                REPRESENTATIONS
      AND WARRANTIES OF THE SOLE OWNER

              

      

       

      The Sole
Owner hereby jointly and severally make the following representations and
warranties to GELV, all of which shall be true and correct as of the date of
this Agreement and on the Closing Date:

      

      
        	
                6.1  

              	
                100% Ownership of
      CLEL.  Sole Owner owns 100% of CLEL, and hereby
      represents that there are no other owners or third party liens against
      such ownership of CLEL.

              

      

      

      
        	
                6.2  

              	
                Title to Real CLEL.
      After Closing, GELV shall have, good and marketable title to all
      CLEL assets reflected in the Financial
  Statements

              

      

      

      
        	
                6.3  

              	
                Financial Condition. The
      financial statements of Sole Owner set forth in Exhibit D, fairly
      represent (in accordance with generally accepted accounting principles
      except as otherwise set forth in Notes thereto consistently applied) the
      financial condition and results of operations of Sole Owner at and for
      period reported thereon. There exists no material adverse change in such
      financial condition or results of operations of the Sole Owner since
      January 1, 2008, copies of which have been provided to GELV and which
      fairly present the financial condition and results of operations of the
      Sole Owner; provided, however, that GELV understands and acknowledges that
      the continuation of trends reflected in the Financial Statements shall not
      constitute a material adverse
change.

              

      

      

      
        	
                6.4  

              	
                No Right of Termination by
      Major Customers or Suppliers. There are no grounds that would allow
      any of the Sole Owner’ ten (10) largest (by level of revenue received by
      CLEL ) CLEL customers, or any of the Sole Owner’ major suppliers to
      terminate their existing service
contracts.

              

      

      

      
        	
                6.5  

              	
                Maintain Lease to
      CLEL.  If CLEL operates on property currently not owned
      by CLEL Business, but by Sole Owner, Sole Owner warrants he will continue
      to lease CLEL of which CLEL is currently located to CLEL at the same or
      lesser monthly rate.  At the time of Closing, the Sole Owner
      shall extend a long-term lease with GELV for CLEL
  use.

              

      

      

      
        	
                6.6  

              	
                Tax Liabilities. CLEL
      does not have any federal, state or foreign tax liability that may be
      assessed against or collected from GELV as a successor of the Sole Owner
      or otherwise.  CLEL has paid all taxes due and payable; has
      established adequate reserves for any taxes not yet due and payable; has
      timely filed all tax returns required to be filed; and does not have any
      current or pending tax audits.  There are no CLEL assets that
      are subject to any liens for taxes.

              

      

       

      
        	
                SECTION
      7  

              	
                TRANSITION
      OBLIGATIONS

              

      

       

      
        	
                7.1  

              	
                Operation
      of the CLEL Business after Closing.

              

      

      

      
        	
                a)  

              	
                CLEL
      shall become a subsidiary of GELV.  After the Closing Date, the
      Sole Owner shall remain an employee of CLEL for two (2) years (Sole Owner
      shall have a salary of $50,000 total a year, or such larger amount as the
      Board may from time to time determine) and shall operate CLEL in the
      ordinary course and shall use his best efforts to maintain favorable
      relationships with CLEL customers and suppliers.  There shall be
      an option to renew employment for another two years, subject to approval
      by the GELV board of directors.  A separate employment agreement
      accompanies this document with further terms and conditions that have been
      agreed upon by both parties.

              

      

      

      
        	
                b)  

              	
                The
      Sole Owner, as employee after the Closing Date, shall maintain an average
      of a minimum Yearly Net Profit of  Fifty Thousand Dollars
      (US$50,000 Net Profit)  for the next two (2) years after
      Closing.

              

      

      

      
        	
                c)  

              	
                If
      and to the extent that the Sole Owner has been making any payments on any
      leases or executory contracts, the Sole Owner shall continue to make such
      payments.  Such payments shall be disclosed to
    GELV.

              

      

      

      
        	
                7.2  

              	
                Employee
      Matters.

              

      

      

      
        	
                a)  

              	
                Until
      the Note is paid in full, Sole Owner shall continue to handle Employee
      Matters so as to not disrupt CLEL.

              

      

      

      
        	
                7.3  

              	
                No Conflicting
      Agreements. No Party shall enter into any agreement that would
      adversely affect (i) its ability to perform its obligations under this
      Agreement, or (ii) the rights of any other Party under this Agreement or
      the Procedures Order.

              

      

      

      
        	
                7.4  

              	
                Financial and Budgetary
      Information.  The Sole Owner shall work with GELV to have
      CLEL’s and its assets’ financial and budgetary information audited by a
      certified public accounting firm, and must be acceptable under by both
      GAAP and SEC standards.

              

      

      

      
        	
                7.5  

              	
                Filing
      and Audit Cooperation.

              

      

      

      
        	
                a)  

              	
                The
      Sole Owner and GELV shall (i) cause any necessary filings with any
      governmental agency to be made expeditiously, and (ii) obtain or cooperate
      in obtaining any necessary government or third-party approvals (including,
      without limitation, any filings or registrations with the SEC or state
      securities regulatory authorities). In addition, each of the Parties
      agrees to use its best efforts to expeditiously prepare, file and seek
      confirmation of this Agreement.

              

      

       

       

      
        
           

        

        
          4

          
            

          

        

        
           

        

      

      
 

      
        	
                b)  

              	
                After
      the Closing Date, the Sole Owner shall provide GELV and/or its
      representatives, agents and designees with (i) reasonable access to the
      CLEL books and records, employees, agents, accountants, advisors and other
      representatives, and (ii) such other persons and information as GELV shall
      request with respect to the assets, liabilities and equity of CLEL;
      provided, however, that any such access shall only be given during normal
      CLEL hours; provided further that any reasonable fees, costs and expenses
      incurred or suffered by the Sole Owner in connection with providing such
      access shall be paid by GELV.

              

      

      

      
        	
                7.6  

              	
                Further Assurances.
      After the Closing, (i) the Sole Owner shall, at the request of GELV, take
      such additional actions, and execute and deliver such additional documents
      and instruments, as may be reasonably necessary or appropriate to effect
      the transactions contemplated by, and to carry out the intent of, this
      Agreement, and (ii) GELV shall, at the request of the Sole Owner, take
      such additional actions, and execute and deliver such additional documents
      and instruments, as may be reasonably necessary or appropriate to effect
      the transactions contemplated by, and to carry out the intent of, this
      Agreement.

              

      

      

      
        	
                7.7  

              	
                Amendment to CLEL Corporate
      Documents.  Any Certificate of Incorporation and By-laws
      of CLEL, on or prior to the Closing Date, if and to the extent directed by
      GELV, the certificate of incorporation and by-laws of CLEL shall be
      amended to be in form and substance satisfactory to
  GELV.

              

      

       

       

      
        
           

        

        
          5

          
            

          

        

        
           

        

      

      
 

       

      
        	
                SECTION
      8  

              	
                CONDITIONS
      PRECEDENT

              

      

       

      
        	
                8.1  

              	
                Mutual Conditions. The
      obligations of the Sole Owner and GELV under this Agreement are subject to
      the satisfaction of each of the following
  conditions:

              

      

      

      
        	
                a)  

              	
                Authorizations. All
      Authorizations required to consummate the transactions under this
      Agreement shall have been obtained.

              

      

      

      
        	
                8.2  

              	
                Conditions to obtain GELV's
      Obligations. In addition to satisfaction of the mutual conditions
      set forth in Section 8.1 of this Agreement, the obligations of GELV under
      this Agreement shall be subject to the satisfaction of each of the
      following conditions:

              

      

      

      
        	
                a)  

              	
                Representations and Warranties
      of the Sole Owner. The representations and warranties of the Sole
      Owner in this Agreement shall be true and correct on the Closing Date as
      if made on and as of that date, except for changes occurring in the
      ordinary course of CLEL (provided that such changes do not have a material
      adverse effect on CLEL taken as a whole), or with the prior written
      consent of GELV.

              

      

      

      
        	
                b)  

              	
                Sole Owner owns 100% of CLEL.
      The Sole Owner hereby represents that they are the Sole Owner of
      CLEL, its subsidiaries, and the assets under these
      businesses.  The Sole Owner shall indemnify GELV for any
      misrepresentation of ownership or claims against ownership of
      CLEL.

              

      

      

      
        	
                c)  

              	
                Compliance with
      Conditions. All of the terms, conditions, covenants and agreements
      to be complied with or performed by the Sole Owner under this Agreement on
      or before the Closing Date shall have been duly complied with or performed
      in all material respects.

              

      

      

      
        	
                d)  

              	
                No Material Change.
      There shall have been no material adverse change in the operations of
      CLEL.

              

      

      

      
        	
                e)  

              	
                Material Documents Satisfactory
      to GELV.  All required documents from Sole Owner shall be
      in form and substance reasonably satisfactory to
  GELV.

              

      

      

      
        	
                f)  

              	
                Closing Documents. The
      Sole Owner shall deliver to GELV all the closing documents specified in
      Section 9.2(a) of this Agreement, each of which shall be dated as of the
      Closing Date, duly executed and in a form reasonably satisfactory to
      GELV.

              

      

      

      
        	
                g)  

              	
                No GELV Termination
      Event.  No GELV Termination Event shall have occurred
      (other than GELV Termination Events, if any, that have been waived by GELV
      in writing).

              

      

      

      
        	
                h)  

              	
                No Default Notice or
      Termination Notice. GELV has not sent (i) any uncured Default
      Notice to Sole Owner (other than Default Notices, if any, that have been
      rescinded or waived by GELV in writing), or (ii) a Termination Notice to
      Sole Owner.

              

      

      

      
        	
                i)  

              	
                Pre-Closing Balance
      Sheet. GELV shall have received the Pre- Closing Balance Sheet at
      least five (5) business days prior to the Closing Date, which shall be in
      form and substance reasonably satisfactory to
  GELV.

              

      

       

       

      
        
           

        

        
          6

          
            

          

        

        
           

        

      

       

      
 

      
        	
                8.3  

              	
                Conditions to obtain Sole
      Owner’s Obligations. In addition to satisfaction of the mutual
      conditions set forth in Section 8.1 of this Agreement, the obligations of
      the Sole Owner under this Agreement shall be subject to satisfaction of
      each of the following conditions:

              

      

      

      
        	
                a)  

              	
                Representations and Warranties
      of GELV. The representations and warranties of GELV in this
      Agreement shall be true and correct in all material respects on the
      Closing Date as if made on and as of that
date

              

      

      

      
        	
                b)  

              	
                Compliance with
      Conditions. All of the terms, conditions, covenants and agreements
      to be complied with or performed by GELV or GELV on or before the Closing
      Date under this Agreement shall have been duly complied with or performed
      in all material respects.

              

      

      

      
        	
                c)  

              	
                Closing Documents. GELV
      shall deliver to Sole Owner all the closing documents specified in Section
      9.2(b) of this Agreement, each of which shall be dated as of the Closing
      Date, duly executed and in a form reasonably satisfactory to Sole
      Owner.

              

      

      

      
        	
                d)  

              	
                No Default Notice. Sole
      Owner has not sent (i) any Default Notice to GELV (other than Default
      Notices, if any that have been rescinded or waived by Sole Owner in
      writing), or (ii) a Termination Notice to
GELV.

              

      

      

      
        	
                e)  

              	
                No Sole Owner’s Termination
      Event. No Sole Owner’s Termination Event shall have occurred (other
      than Sole Owner’s Termination Events, if any, that have been waived by
      Sole Owner in writing).

              

      

       

      
        	
                8.4  

              	
                Waiver of Conditions
      Precedent. If any condition described in this Section 8 has not
      been satisfied, the Party that is entitled to require that such condition
      be satisfied may (in its sole discretion) waive such
      condition.

              

      

       

      
        SECTION
9    CLOSING
/ PERFORMANCE

      

       

      
        	
                9.1  

              	
                Closing Date. The
      transactions contemplated by this Agreement shall close (the "Closing")
      per Section 2.1.

              

      

      

      
        	
                9.2  

              	
                Performance at Closing.
      The following documents shall be executed and delivered at the
      Closing:

              

      

      

      
        	
                a)  

              	
                 By Sole Owner. The Sole
      Owner shall deliver to GELV:

              

      

      

      
        	
                i.  

              	
                Certificates
      of the officers or partners of CLEL in form and substance reasonably
      satisfactory to GELV with respect to such matters as GELV may reasonably
      request (including, but not necessarily limited to, a certificate with
      respect to each Sole Owner that (i) all conditions precedent to be
      satisfied by such Sole Owner under this Agreement have been satisfied in
      all material respects, (ii) such Sole Owner has performed all of its
      duties under this Agreement in all material respects, (iii) the
      representations and warranties of such Sole Owner in this Agreement are
      true and correct on the Closing Date, except for changes occurring in the
      ordinary course of the CLEL (provided that such changes do not have a
      material adverse effect on the CLEL taken as a whole), or with the prior
      written consent of GELV, and (iv) evidencing the incumbency and signatures
      of such CLEL officers authorized to act on behalf of such Sole Owner with
      respect to the transactions contemplated by this
  Agreement.

              

      

       

       

      
        
           

        

        
          7

          
            

          

        

        
           

        

      

      
 

      
        	
                ii.  

              	
                To
      the extent deemed necessary or appropriate by GELV, such bills of sale,
      warranty deeds and other instruments of transfer and assignment as GELV
      may reasonably request to insure the full conveyance of the Interests to
      GELV.

              

      

      

      
        	
                iii.  

              	
                Copies
      of all Authorizations required to be obtained by the Sole Owner to
      consummate the transactions contemplated by this
  Agreement.

              

      

      

      
        	
                iv.  

              	
                Certified
      copies of the resolutions of each Sole Owner’s board of directors or
      partners then in full force and effect authorizing the transactions
      contemplated by this Agreement and the execution of all of the documents
      entered into by such Sole Owner to effectuate such
      transactions.

              

      

      

      
        	
                v.  

              	
                Opinions
      of Sole Owner’s counsel with respect to such matters as GELV shall
      reasonably request, which opinions shall be in form and substance
      reasonably satisfactory to GELV.

              

      

      

      
        	
                vi.  

              	
                Physical
      possession of original copies of all Assets that constitute contracts,
      agreements, securities and similar assets, and (iii) all of the
      Records.

              

      

      

      
        	
                vii.  

              	
                An
      updated schedule of all liabilities and obligations to be assumed or paid
      by GELV and/or its subsidiaries.

              

      

      

      
        	
                b)  

              	
                By GELV.  GELV
      shall deliver to Sole Owner:

              

      

      

      
        	
                i.  

              	
                Copies
      of the resolutions of GELV's board of directors then in full force and
      effect authorizing the transactions contemplated by this Agreement and the
      execution of all of the documents entered into by GELV to effectuate such
      transactions.

              

      

      

      
        	
                ii.  

              	
                Opinions
      of GELV's counsel with respect to such matters as Sole Owner shall
      reasonably request, which opinions shall be in form and substance
      reasonably satisfactory to the Sole
Owner.

              

      

      

      
        	
                9.3  

              	
                Other Documents and
      Acts. The Sole Owner and GELV shall also execute such other
      documents and perform such other acts, before and after the Closing Date,
      as may be reasonably necessary or appropriate for the consummation of the
      Transactions.

              

      

       

      
        	
                SECTION
      10 

              	
                NOTICE
      OF DEFAULT AND ADVERSE DEVELOPMENTS

              

      

       

      

      
        	
                10.1  

              	
                Notice of Default. If
      any Party determines that any other Party is in default of its material
      obligations, or has breached any of its representations and warranties in
      any material respect, under this Agreement, such Party shall provide the
      defaulting Party and the other non-defaulting Parties with notice (a
      "Default Notice") specifying in reasonable detail the nature of such
      default or breach; provided, however, that delivery of a Default Notice by
      any Party to a defaulting Party shall not constitute a waiver of (i) any
      default or breach by the defaulting Party, or (ii) any rights or remedies
      under this Agreement of any non-defaulting
  Party.

              

      

      

      
        	
                10.2  

              	
                Notice of Adverse
      Developments. Each Party shall promptly notify the other Parties of
      each development known to such Party that may have a material adverse
      effect on the operation of the Sole Owner’s CLEL or any of the Assets;
      provided, however, that the compliance by the Sole Owner shall not relieve
      the Sole Owner of any obligation with respect to their representations,
      warranties, covenants and agreements in this Agreement or waive any
      condition to GELV's obligations under this
  Agreement,

              

      

      

       

      
        
           

        

        
          8

          
            

          

        

        
           

        

      

       

       

      
        	
                SECTION
      11 

              	
                TERMINATION
      OF THIS AGREEMENT

              

      

       

      
        	
                11.1  

              	
                By Any Party. If any
      Party has delivered a Default Notice to the other Parties pursuant to
      Section 10 of this Agreement and the default described in such notice has
      not been cured within thirty (30) days after delivery of such notice, then
      the Party giving such notice may terminate this
  Agreement.

              

      

      

      
        	
                11.2  

              	
                Failure to obtain Financial
      Audits.  If CLEL cannot obtain either a PCAOB certified
      financial audit or a successful registration statement with the SEC by
      September 15, 2009, this Agreement shall terminate.  The parties
      may extend this requirement date by mutual
  agreement.

              

      

      

      
        	
                11.3  

              	
                Notice of Termination.
      Any Party that elects to exercise its right to terminate this Agreement
      pursuant to this Section of this Agreement may do so by sending a written
      notice (a "Termination Notice") to the other Parties in the manner
      provided in Section 12.2 of this Agreement. In the event of any
      termination of this Agreement, the Parties shall have no further
      obligations or liabilities to one another under this
      Agreement.

              

      

      

      
        	
                a)  

              	
                Returning to Conditions
      existing prior to Closing Date.  If in the event that
      Section 7.1(b) is not obtained, GELV shall return all Interests to Sole
      Owner.  Sole Owner shall return all Payments under Section
      3.  Sole Owner shall not retain any payments.  All
      Parties shall proceed to complete all filings to come back to the
      conditions prior to the Closing Date as reasonably as
      possible.  The Note shall be
  terminated.

              

      

       

      
        	
                SECTION
      12

              	
                GENERAL
      PROVISIONS

              

      

       

      
        	
                12.1  

              	
                Expenses. Except as
      otherwise provided in this Agreement and the Procedures Order, all
      expenses involved in the preparation and consummation of this Agreement
      shall be borne by the Party incurring such expense whether or not the
      transactions contemplated by this Agreement are
      consummated.  All filing and auditing expenses related to this
      acquisition shall be paid by GELV.  Each party shall engage
      their own legal counsel.

              

      

      

      
        	
                12.2  

              	
                Notices. All notices,
      requests, demands, and other communications pertaining to this Agreement
      shall be in writing and shall be deemed duly given when delivered
      personally (which shall include delivery by (i) Federal Express or other
      nationally recognized, reputable overnight courier service that issues a
      receipt or other confirmation of delivery, or (ii) fax upon confirmation
      of delivery) to the Party for whom such communication is intended, or
      three (3) business days after the date mailed by certified or registered
      U.S. mail, return receipt requested, postage prepaid, addressed as
      follows:

              

      

      

      
        	
                If
      to the Sole Owner:

              	
                Comanche
      Livestock Exchange, LLC

                Highway
      67/377

                Comanche,
      Texas 76442

                 

              
	
                If
      to GELV:

              	
                1740
      44th Street, Suite 5-230, Wyoming, Michigan 49519-6443

                 

              
	
                With
      a copy to:

                 

              	
                Cident
      Law Group PLLC

                ATTN:
      Matthew Maza

                410
      Broadway Ave East #361

                Seattle,
      Washington 98102

              

      

      

      Any Party
may change its address for notices by notice to the other Parties given pursuant
to this Section 12.2. For purposes of this Agreement, any notice delivered to
Sole Owner shall be deemed to have been given to all of the other Sole Owner at
the time such notice is delivered to Sole Owner and any notice delivered to GELV
shall be deemed to have been given to GELV.

       

       

      
        
           

        

        
          9

          
            

          

        

        
           

        

      

       

      
 

      
        	
                12.3  

              	
                Attorneys' Fees. If any
      Party initiates any litigation against any other Party involving this
      Agreement prior to the Closing Date, each prevailing Party in any such
      litigation shall be entitled to receive reimbursement from the other
      Parties in that litigation of such prevailing Party's reasonable
      attorneys' fees and other costs and expenses incurred by such prevailing
      Party in connection with that litigation, including any appeal, and such
      reimbursement may be included in the judgment or final order issued in
      that proceeding.

              

      

      

      
        	
                12.4  

              	
                Waiver. Unless otherwise
      specifically agreed in writing to the contrary by each adversely affected
      Party: (i) the failure of any Party at any time to require performance by
      the other of any provision of this Agreement shall not affect such Party's
      right thereafter to enforce the same; (ii) no waiver by any Party of any
      default by any other Party shall be valid unless in writing and
      acknowledged by an authorized representative of the non-defaulting Party,
      and no such waiver shall be taken or held to be a waiver by the
      non-defaulting Party of any other preceding or subsequent default; and
      (iii) no extension of time granted by any Party for the performance of any
      obligation or act by the any other Party shall be deemed to be an
      extension of time for the performance of any other obligation or act under
      this Agreement.

              

      

      

      
        	
                12.5  

              	
                Assignment; Survival of
      Representations, Warranties and Covenants. Except as otherwise
      contemplated by this Agreement, no Party may assign its rights or delegate
      its obligations under this Agreement without the prior written consent of
      the other Parties. Subject to the foregoing, this Agreement shall be
      binding upon and shall inure to the benefit of the Parties and their
      respective successors and assigns, and no other person shall acquire or
      have any right under or by virtue of this Agreement. The representations
      and warranties of the Sole Owner in this Agreement shall expire on the
      Closing Date and neither the Sole Owner nor GELV shall have any liability
      to any Person after the Closing Date for any breach of any of its
      representations, warranties, covenants or agreements under this Agreement;
      provided, however, that notwithstanding anything to the contrary in this
      Agreement, the following shall survive the termination of this Agreement:
      (i) GELV's obligations under Section 12.1 of this Agreement, (ii) the
      post-closing obligations of the Parties set forth in Section 7 of this
      Agreement, and (iii) the Sole Owner’s obligation under Section 12.1 of
      this Agreement.

              

      

      

      
        	
                12.6  

              	
                Entire Agreement. This
      Agreement and the Exhibits and Schedules to this Agreement (which are
      incorporated by reference in this Agreement), constitute the entire
      agreement among the Parties with respect to the Transactions, and
      supersede and terminate any prior agreements (including, but not limited
      to, the Plan Sponsor Agreement) between the Parties (written or
      oral).  Neither this Agreement nor any Exhibit or Schedule may
      be altered or amended except by an instrument in writing by all of the
      Parties.

              

      

      

      
        	
                12.7  

              	
                Duplicate Originals.
      This Contract may be executed in multiple counterparts and shall be deemed
      to be fully executed when each of the parties hereto has signed one of the
      counterparts, even though no one of the counterparts has been signed by
      all of the parties hereto and all counterpart signature pages have been
      exchanged between all parties. A facsimile copy of this Contract,
      including any signature thereon, may be considered an original for all
      purposes. Upon exchange of facsimile copies resulting in each party’s
      having one set of copies with all required signatures, the document shall
      be deemed fully executed and binding. Signature pages signed on multiple
      counterparts may be separated from each counterpart and affixed to one
      master document which shall be effective as the Contract and which may be
      recorded as one instrument.

              

      

       

       

      
        
           

        

        
          10

          
            

          

        

        
           

        

      

      
 

      
        	
                12.8  

              	
                Construction. The
      Section headings of this Agreement are for convenience only and in no way
      modify, interpret or construe the meaning of specific provisions of this
      Agreement. As used in this Agreement, the neuter gender shall also denote
      the masculine and feminine, and the masculine gender shall also denote the
      neuter and feminine, where the context so
  permits.

              

      

      

      
        	
                12.9  

              	
                Severability. If any one
      or more of the provisions contained in this Agreement should be found
      invalid, illegal or unenforceable in any respect, the validity, legality,
      and enforceability of the remaining provisions contained in this Agreement
      shall not in any way be affected or impaired thereby. Any illegal or
      unenforceable term shall be deemed to be void and of no force and effect
      only to the minimum extent necessary to bring such term within the
      provisions of applicable law and such term, as so modified, and the
      remainder of this Agreement shall then be fully
    enforceable.

              

      

      

      
        	
                12.10  

              	
                Choice of Law / Venue.
      This Agreement shall be governed by and construed in accordance with the
      laws of the State of Texas, without regard to the choice of law rules
      utilized in that jurisdiction.  The venue shall be Comanche
      County, Texas.  In the event a dispute shall arise between the
      parties to this agreement it is hereby agreed that the parties shall elect
      a mediator to determine the dispute.  In the event, the parties
      cannot agree upon a mediator, then either party may petition the District
      Court of Comanche County to appoint a mediator to handle the
      matter.  If the parties do not resolve the dispute at mediation
      then either party may file a cause of action in court of competent
      jurisdiction in Comanche County to resolve the dispute.  In any
      event, the matter should be mediated at a location agreed to by the
      parties.

              

      

      

      
        	
                12.11  

              	
                Counsel. Each Party has
      been represented by its own counsel in connection with the negotiation and
      preparation of this Agreement and, consequently, each Party hereby waives
      the application of any rule of law that would otherwise be applicable in
      connection with the interpretation of this Agreement (including, but not
      limited to, any rule of law to the effect that any provision of this
      Agreement shall be interpreted or construed against the Party whose
      counsel drafted that provision).

              

      

      

      
        	
                12.12  

              	
                Enforcement of the Rights of
      GELV and the Sole Owner. Until all of the transactions contemplated
      by this Agreement have been consummated on the Closing Date, (i) all of
      GELV's rights under this Agreement shall be for the benefit of GELV, (ii)
      GELV shall be entitled to enforce any such rights against any other Party,
      and (iii) all of the Sole Owner’s rights under this Agreement shall be for
      the benefit of the Sole Owner may be enforced by the Sole
      Owner.  (See Termination rights under Section
    11).

              

      

      

      
        	
                a)  

              	
                Good Faith
      Termination.  Each party to this agreement acknowledges
      that the other party may in good faith terminate this agreement for the
      following causes specifically identified or expressly stated in this
      agreement without liability for breach of contract or damages, to wit: (1)
      a material defect in title to the CLEL which Sole Owner cannot or will not
      cure, (2) a material environmental contamination which Sole Owner cannot
      or will not remediate, (3) a default of a material obligation, or (4)
      total destruction of CLEL.  In addition, either party may
      terminate this agreement without cause at any time prior to closing by
      tendering to the other party a written notice of termination; however,
      such a “without cause termination” shall be subject to the obligation to
      pay liquidated damages.

              

      

      

      
        	
                b)  

              	
                Liquidated
      Damages shall be all fees and costs associated in forming this
      transaction, which shall include, but not limited to, traveling costs,
      attorneys’ fees, accountants’ fees, and reasonable time
      spent.  Proof of expense shall be by printed/written
      evidence.

              

      

      

      
        	
                c)  

              	
                No
      Liquidated Damages shall be paid for failure to maintain any conditions
      under Sections 5, 6, 7, 8, or 9.  Parties may waive conditions
      placed upon the other party in any of these
  Sections.

              

      

      

       

      
        
           

        

        
          11

          
            

          

        

        
           

        

      

       

      
 

      IN WITNESS WHEREOF, each of
the Parties has caused this Agreement to be executed by a respective duly
authorized officer as of the date first written above.

      

      
        
          	
                  “Sole Owner”

                	 
      	 
      	 
      	
                  “GELV”

                	 
      	 
      
	
                  Comanche
      Livestock Exchange, LLC

                	 
      	 
      	 
      	
                  Green
      Energy Live, Inc.

                	 
      	 
      
	 	 	 	 	 	 	 
	/s/
      Dean Cagle	 
      	
                  7/22/2009

                	 
      	/s/
      Karen Clark	 
      	
                  7/24/2009

                
	
                  Dean
      Cagle

                  Sole
      Owner

                	 
      	
                  Date

                	 
      	
                  Karen
      Clark

                  President/CEO

                	 
      	
                  Date

                
	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      	 
      	 
      

        

      

       

       

      
        
           

        

        
          12

          
            

          

        

        
           

        

      

       

       

       

      Exhibit
A

       

       

      Articles
of Incorporation of CLEL

       

       

       

      
        
           

        

        
          13

          
            

          

        

        
           

        

      

       

       

       

      

      Exhibit
B

       

       

      The
Bylaws of CLEL

       

      

      

      
        
           

        

        
          14

          
            

          

        

        
           

        

      

      

       

      Exhibit
C

      

       

       

      Audited
Financial Statements of CLEL, dated FY 2008 and FY 2007

       

      

       

      
        
           

        

        
          15

          
            

          

        

        
           

        

      

       

       

      Exhibit
D

      

       

       

      Six-month
or Quarterly Financial Statements for the period January 2009 through June
2009

       

      

       

      
        
           

        

        
          16

          
            

          

        

        
           

        

      

       

      Exhibit
E

      

       

       

      Real
Estate Contract included in this Acquisition

       

      

       

      
        
           

        

        
          17

          
            

          

        

        
           

        

      

       

       

      Exhibit
F

      

      Green
Energy Live, Inc Employment Agreementf8kjuly3009ex10ii_grnenergy.htm

    Exhibit
10.2

     

     

    GREEN
ENERGY LIVE, INC.

    EMPLOYMENT
AGREEMENT

    

    In conjunction
with

    STOCK PURCHASE ACQUISITION
AGREEMENT

    Of

    COMANCHE LIVESTOCK EXCHANGE,
LLC

    By

    GREEN ENERGY LIVE,
INC.

    
    

    

    THIS EMPLOYMENT AGREEMENT (the
"Agreement") is entered into as of Final Closing Date (the "Effective Date"), by
and between GREEN ENERGY LIVE,
INC., a Nevada corporation (the "Parent Company"), Comanche Livestock Exchange,
LLC,(the
“Company”) and DEAN
CAGLE (the "Executive") (hereinafter collectively referred to as "the
parties").

    

    WHEREAS,

    

    The
Parent Company has acquired the Company under the “STOCK PURCHASE ACQUISITION
AGREEMENT

    Of
COMANCHE LIVESTOCK EXCHANGE, LLC By GREEN ENERGY LIVE, INC.”.

    

    NOW, THEREFORE, in
consideration of the premises and the mutual covenants and promises of the
parties contained herein, the parties, intending to be legally bound, hereby
agree as follows:

    

    
      	
              1)  

            	
              Term. The term of
      employment under this Agreement shall be for the period commencing on the
      day that the Parent Company acquires the Company (the "Commencement Date")
      and ongoing until twenty-four (24) months or by
      Termination under Section 4 (the "Term"), subject to a two (2) year
      extension.

            

    

    

    
      	
              2)  

            	
              Employment.

            

    

    

    
      	
              a)  

            	
              Position. The Executive
      shall be employed by the Company as the President of
      the Company. The Executive shall perform the duties, undertake the
      responsibilities and exercise the authority customarily performed,
      undertaken and exercised by persons employed in a similar executive
      capacity. The Executive shall report only to the Board of the Parent
      Company.

            

    

     

    
      	
              b)  

            	
              Obligations. The Executive
      agrees to devote reasonable business time and attention to the business
      and affairs of the Company. The foregoing, however, shall not preclude the
      Executive from serving on corporate, civic or charitable boards or
      committees or managing personal investments, so long as such activities do
      not interfere with the performance of the Executive's responsibilities
      hereunder.  Parent Company understands Executive operates a
      private cattle business and shall allow Executive to operate such private
      cattle business to the extent that such other business does not materially
      interfere with the operation of the
Company.

            

    

     

    
      	
              c)  

            	
              Duties. President shall have
      full use of Company or Company’s cash and accounts receivables for the
      purpose of reasonably maintaining and expanding the Company’s
      business.

            

    

    

    
      	
              3)  

            	
              Base Salary. The Company
      agrees to pay or cause to be paid to the Executive a base salary of
      $50,000 per year
      or such larger amount as the Board may from time to time determine (the
      "Base Salary"). Such Base Salary shall be payable in accordance with the
      Company's customary practices applicable to its executive
      officers.

            

    

    

    
      	
              a)  

            	
              Expenses. All Company
      related expenses incurred by Executive shall be paid by
      Company.

            

    

     

     

     

    
      
         

      

      
        1

        
          

        

      

      
         

      

    

     

     

    
      	
              b)  

            	
              Health Insurance.
      Executive shall continue with the Health Insurance program as currently
      provided by the Company prior to the Company being acquired by the Parent
      Company.

            

    

    

    
      	
              4)  

            	
              Termination.

            

    

     

    
      	
              a)  

            	
              Death. The Executive's
      employment hereunder shall terminate upon the Executive's
      death.  In this unlikely event, this employment contract is
      assigned to Colt Lee Cagle, son of Dean Cagle.  In the event
      that Colt Lee Cagle does not accept this position, then the next person to
      be offered this position before any other party is Douglas Gayle Jones,
      current Manager of Comanche Livestock Exchange,
  LLC.

            

    

     

    
      	
              b)  

            	
              Disability. Either the
      Executive or the Company shall be entitled to terminate the Executive's
      employment for "Disability" by giving the other party a Notice of
      Termination (as defined below). For purposes of this Agreement,
      "Disability" shall mean the Executive's inability to perform his duties
      for a period of 180 consecutive days as a result of physical or mental
      impairment, illness or injury, and such condition, in the opinion of a
      medical doctor selected by the Company and reasonably acceptable to the
      Executive or his legal representative, is total and
      permanent.  In this unlikely event, this employment contract is
      assigned to Colt Lee Cagle, son of Dean Cagle.  In the event
      that Colt Lee Cagle does not accept this position, then the next person to
      be offered this position before any other party is Douglas Gayle Jones,
      current Manager of Comanche Livestock Exchange,
  LLC.

            

    

     

    
      	
              c)  

            	
              Cause. The Company shall
      be entitled to terminate the Executive's employment for "Cause." For
      purposes of this Agreement, "Cause" shall mean that the Executive (i)
      pleads "guilty" or "no contest" to or is convicted of an act which is
      defined as a felony under federal or state law, or engages in willful
      misconduct which could reasonably be expected to harm the Company's
      business or its reputation. For this purpose, an act or failure to act
      shall be considered "willful misconduct" only if done, or omitted to be
      done, by the Executive in bad faith and without a reasonable belief that
      such act or failure to act was in the best interests of the
      Company.

            

    

     

    
      	
              d)  

            	
              Good Reason. The
      Executive may terminate his employment hereunder for "Good Reason" by
      delivering to the Company (i) a Preliminary Notice of Good Reason (as
      defined below), and (ii) not earlier than 30 days from the delivery of
      such Preliminary Notice of Good Reason, a Notice of Termination. For
      purposes of this Agreement, "Good Reason" shall mean the occurrence of any
      of the following without the Executive's prior written
      consent:

            

    

     

    
      	
              A.  

            	
              the
      failure to continue in the hired role of the
  Company;

            

    

     

    
      	
              B.  

            	
              a
      material diminution in the Executive's duties, or the assignment to the
      Executive of duties materially inconsistent with, or the failure to assign
      to the Executive duties which are materially consistent with, his duties,
      positions, authority, responsibilities and reporting requirements as set
      forth in Section 2 of this Agreement, or the assignment of duties which
      materially impair the Executive's ability to function as the Chairman and
      Chief Executive Officer of the
Company;

            

    

     

    
      	
              C.  

            	
              a
      reduction in or a material delay in payment of the Executive's total cash
      compensation and benefits from those required to be provided in accordance
      with the provisions of this
Agreement;

            

    

     

    
      	
              D.  

            	
              the
      Company, the Board or any person controlling the Company requires the
      Executive to be based outside of the United States, other than on travel
      reasonably required to carry out the Executive's obligations under this
      Agreement; or

            

    

     

    
      	
              E.  

            	
              the
      failure of the Company to obtain the assumption in writing of its
      obligation to perform this Agreement by any successor to all or
      substantially all of the assets of the Company not later than the
      effective date of a merger, consolidation, sale or similar transaction;
      provided, however, that "Good Reason" shall not include acts not taken in
      bad faith which are cured by the Company in all respects not later than 30
      days from the date of receipt by the Company of a written notice from the
      Executive identifying in reasonable detail the act or acts constituting
      "Good Reason" (a "Preliminary Notice of Good Reason") or acts taken by the
      Company to reassign the Executive's duties and/or titles to another person
      or persons if the Executive has suffered a physical or mental infirmity
      which renders him unable to substantially perform his duties under this
      Agreement, provided that any such acts may be taken by the Company
      only after receiving an opinion of a physician reasonably acceptable to
      the Executive or his legal representative stating that there is no
      reasonable likelihood that the Executive will be able to return to
      full‐time employment with the Company performing his duties hereunder
      within 180 days. A Preliminary Notice of Good Reason shall not, by itself,
      constitute a Notice of Termination.

            

    

     

     

     

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

     

     

    
      	
              e)  

            	
              Voluntary; Retirement.
      The Executive may terminate his employment hereunder at any time and for
      any reason other than Good Reason or Disability (or for no reason) by
      giving the Company a Notice of Termination. Such voluntary termination
      shall be a "Retirement" and such termination shall not be deemed a breach
      of this Agreement.

            

    

     

    
      	
              f)  

            	
              Notice of Termination.
      For purposes of this Agreement, a "Notice of Termination" shall mean a
      notice which indicates the specific termination provision in this
      Agreement relied upon and which sets forth in reasonable detail, if
      applicable, the facts and circumstances claimed to provide a basis for
      termination of the Executive's employment under the provision so
      indicated. For purposes of this Agreement, no purported termination of
      employment which requires a Notice of Termination shall be effective
      without such Notice of Termination. The Termination Date (as defined
      below) specified in such Notice of Termination shall be no less than two
      weeks from the date the Notice of Termination is given; provided, however,
      that (i) if the Executive's employment is terminated by the Company due to
      Disability, the date specified in the Notice of Termination shall be at
      least 30 days from the date the Notice of Termination is given to the
      Executive and (ii) if the Executive terminates his employment in
      accordance with Subsection 4(f) of this Agreement, the date specified in
      the Notice of Termination shall be at least 30 days from the date the
      Notice of Termination is given to the
Company.

            

    

     

    
      	
              g)  

            	
              Termination Date.
      "Termination Date" shall mean the date of the termination of the
      Executive's employment with the Company and specifically (i) in the case
      of the Executive's death, his date of death; (ii) in the case of a
      termination of the Executive's employment for Cause, the relevant date
      specified in Section 4 of this Agreement; (iii) in the case of the
      expiration of the Term of this Agreement in accordance with Section 1, the
      date of such expiration; and (iv) in all other cases, the date specified
      in the Notice of Termination.

            

    

    

    
      	
              5)  

            	
              Compensation Upon Termination
      of Employment.  If Executive is terminated
      by the Company, Company shall pay two (2) months compensation, at the last
      base rate paid prior to
termination.

            

    

    

    
      	
              6)  

            	
              Employee
      Covenants.

            

    

     

    
      	
              a)  

            	
              Unauthorized Disclosure.
      The Executive shall not, during the term of this Agreement and thereafter,
      make any Unauthorized Disclosure. For purposes of this Agreement,
      "Unauthorized Disclosure" shall mean disclosure by the Executive without
      the prior written consent of the Board to any person, other than an
      employee of the Company or a person to whom disclosure is reasonably
      necessary or appropriate in connection with the performance by the
      Executive of his duties as an executive officer of the Company, of any
      confidential information relating to the business or prospects of the
      Company including, but not limited to, any confidential information
      with respect to any of the Company's customers, products, methods of
      distribution, strategies, business and marketing plans and business
      policies and practices, except (i) to the extent disclosure is or may be
      required by law, by a court of law or by any governmental agency or other
      person or entity with apparent jurisdiction to require him to divulge,
      disclose or make available such information or (ii) in confidence to an
      attorney or other advisor for the purpose of securing professional advice
      concerning the Executive's personal matters provided such attorney or
      other advisor agrees to observe these confidentiality provisions.
      Unauthorized Disclosure shall not include the use or disclosure by the
      Executive, without consent, of any information known generally to the
      public or known within the Company's trade or industry (other than as a
      result of disclosure by him in violation of this Subsection 6(a)). This
      confidentiality covenant has no temporal, geographical or territorial
      restriction.

            

    

     

     

     

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

     

     

    
      	
              b)  

            	
              Non Competition. During the
      Non‐Competition/No‐Raid Period described below, the Executive shall not,
      directly or indirectly, in the continental United States of America,
      without the prior written consent of the Company, own, manage, operate,
      join, control, be employed by, consult with or participate in the
      ownership, management, operation or control of, or be connected with (as a
      stockholder, partner, or otherwise), any business, individual, partner,
      firm, corporation or other entity that competes, directly or indirectly,
      with the Company or any affiliate of the Company; provided, however, that
      the "beneficial ownership" (as that term is defined in Rule 13d‐3 under
      the Exchange Act) by the Executive after his termination of employment
      with the Company, either individually or as a member of a "group" for
      purposes of Section 13(d)(3) under the Exchange Act and the regulations
      promulgated thereunder, of not more than two percent (2%) of the voting
      stock of any publicly‐held corporation shall not be a violation of this
      Agreement.

            

    

     

    
      	
              c)  

            	
              Non‐Solicitation. During the
      Non‐Competition/No‐Raid Period described below, the Executive shall not,
      either directly or indirectly, alone or in conjunction with another
      person, interfere with or harm, or attempt to interfere with or harm, the
      relationship of the Company, its subsidiaries and/or affiliates, with any
      person who at any time was an employee, customer or supplier of the
      Company, its subsidiaries and/or affiliates or otherwise had a business
      relationship with the Company, its subsidiaries and/or
      affiliates.

            

    

     

    
      	
              d)  

            	
              For
      purposes of this Agreement, the "Non‐Competition/No‐Raid Period" means the period
      the Executive is employed by the Company plus one year
      thereafter.

            

    

     

    
      	
              e)  

            	
              Remedies. The Executive
      agrees that any breach of the terms of this Section 6 would result in
      irreparable injury and damage to the Company for which the Company would
      have no adequate remedy at law; the Executive therefore also agrees that
      in the event of said breach or any threat of breach, the Company shall be
      entitled to an immediate injunction and restraining order to prevent such
      breach and/or threatened breach and/or continued breach by the Executive
      and/or any and all persons and/or entities acting for and/or with the
      Executive, without having to prove damages, in addition to any other
      remedies to which the Company may be entitled at law or in equity.
      The terms of this Subsection 6(d) shall not prevent the Company from
      pursuing any other available remedies for any breach or threatened breach
      hereof, including but not limited to the recovery of damages from the
      Executive. The Executive and the Company further agree that the provisions
      of the covenants not to compete and solicit are reasonable and that the
      Company would not have entered into this Agreement but for the inclusion
      of such covenants herein. Should a court or arbitrator determine, however,
      that any provision of the covenants is unreasonable, either in period of
      time, geographical area, or otherwise, the parties hereto agree that the
      covenants should be interpreted and enforced to the maximum extent which
      such court or arbitrator deems
reasonable.

            

    

    

    
      	
              7)  

            	
              Indemnification.

            

    

     

    
      	
              a)  

            	
              The
      Company agrees that if the Executive is made a party, or is threatened to
      be made a party, to any action, suit or proceeding, whether civil,
      criminal, administrative or investigative (a "Proceeding"), by reason of
      the fact that he is or was a director, officer or employee of the Company
      or is or was serving at the request of the Company as a director, officer,
      member, employee or agent of another corporation, partnership, joint
      venture, trust or other enterprise, including service with respect to
      employee benefit plans, whether or not the basis of the Proceeding is the
      Executive's alleged action in an official capacity while serving as a
      director, officer, member, employee or agent, the Executive shall be
      indemnified and held harmless by the Company to the fullest extent legally
      permitted or authorized by the Company's certificate of incorporation or
      bylaws or resolutions of the Company's Board of Directors or, if greater,
      by the laws of the incorporation state of Company, against all cost,
      expense, liability and loss (including, without limitation, attorneys'
      fees, judgments, fines, ERISA excise taxes or other liabilities or
      penalties and amounts paid or to be paid in settlement) reasonably
      incurred or suffered by the Executive in connection therewith, and such
      indemnification shall continue as to the Executive even if he has ceased
      to be a director, member, employee or agent of the Company or other entity
      and shall inure to the benefit of the Executive's heirs, executors and
      administrators. The Company shall advance to the Executive all reasonable
      costs and expenses incurred by him in connection with a Proceeding within
      20 calendar days after receipt by the Company of a written request for
      such advance. Such request shall include an undertaking by the Executive
      to repay the amount of such advance if it shall ultimately be determined
      that he is not entitled to be indemnified against such costs and expenses;
      provided that the amount of such obligation to repay shall be limited
      to the after‐tax amount of any such advance except to the extent the
      Executive is able to offset such taxes incurred on the advance by the tax
      benefit, if any, attributable to a deduction realized by him for the
      repayment.

            

    

     

     

     

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

     

     

    
      	
              b)  

            	
              Neither
      the failure of the Company (including its Board of Directors, independent
      legal counsel or stockholders) to have made a determination prior to the
      commencement of any Proceeding concerning payment of amounts claimed by
      the Executive under Section 7(a) above that indemnification of the
      Executive is proper because he has met the applicable standard of conduct,
      nor a determination by the Company (including its Board of Directors,
      independent legal counsel or stockholders) that the Executive has not met
      such applicable standard of conduct, shall create a presumption in any
      judicial proceeding that the Executive has not met the applicable standard
      of conduct.

            

    

     

    
      	
              c)  

            	
              The
      Company agrees to continue and maintain a directors' and officers'
      liability insurance policy covering the Executive, until such time as
      actions against the Executive are no longer permitted by law, with terms
      and conditions no less favorable than the most favorable coverage then
      applying to any other senior level executive officer or director of the
      Company.

            

    

    

    
      	
              8)  

            	
              Successors
      and Assigns.

            

    

     

    
      	
              a)  

            	
              This
      Agreement shall be binding upon and shall inure to the benefit of the
      Company, its successors and assigns and the Company shall require any
      successor or assign to expressly assume and agree to perform this
      Agreement in the same manner and to the same extent that the Company would
      be required to perform it if no such succession or assignment had taken
      place. The term "the Company" as used herein shall include any such
      successors and assigns. The term "successors and assigns" as
      used herein shall mean a corporation or other entity acquiring or
      otherwise succeeding to, directly or indirectly, all or substantially all
      the assets and business of the Company (including this Agreement) whether
      by operation of law or otherwise.

            

    

     

    
      	
              b)  

            	
              Neither
      this Agreement nor any right or interest hereunder shall be assignable or
      transferable by the Executive, his beneficiaries or legal representatives,
      except by will or by the laws of descent and distribution. This Agreement
      shall inure to the benefit of and be enforceable by the Executive's
      legal personal representative.

            

    

    

    
      	
              9)  

            	
              Reserved.

            

    

    

    
      	
              10)  

            	
              Notice. For the purposes
      of this Agreement, notices and all other communications provided for in
      the Agreement (including the Notice of Termination) shall be in writing
      and shall be deemed to have been duly given when personally delivered or
      sent by registered or certified mail, return receipt requested, postage
      prepaid, or upon receipt if overnight delivery service or facsimile is
      used, addressed as follows:

            

    

    

    

    
      	
              If to
      Company:

               

              Green
      Energy Live, Inc.

              Attention:
      Karen Clark

              1740
      44th
      Street, Suite 5-230

              Wyoming,
      MI  49519

               

            	
              If
      to Executive:

               

              Dean
      Cagle

              Comanche
      Livestock Exchange, LLC

              Highway
      67/377

              Comanche,
      Texas 76442

               

               

            

    

     

     

    
      
         

      

      
        5

        
          

        

      

      
         

      

    

     

    
 

    
      	
              11)  

            	
              Settlement of Claims. The
      Company's obligation to make the payments provided for in this Agreement
      and otherwise to perform its obligations hereunder shall not be affected
      by any circumstances, including, without limitation, any set‐off,
      counterclaim, recoupment, defense or other right which the Company may
      have against the Executive or
others.

            

    

    

    
      	
              12)  

            	
              Survivorship. Except as
      otherwise set forth in this Agreement, the respective rights and
      obligations of the Executive and the Company hereunder shall survive any
      termination of the Executive's
employment.

            

    

    

    
      	
              13)  

            	
              Miscellaneous. No
      provision of this Agreement may be modified, waived or discharged unless
      such waiver, modification or discharge is agreed to n writing and signed
      by the Executive and the Company. No waiver by either party hereto at any
      time of any breach by the other party hereto of, or compliance with, any
      condition or provision of this Agreement to be performed by such other
      party shall be deemed a waiver of similar or dissimilar provisions or
      conditions at the same or at any prior or subsequent time. No agreement or
      representations, oral or otherwise, express or implied, with respect to
      the subject matter hereof have been made by either party which are not
      expressly set forth in this
Agreement.

            

    

    

    
      	
              14)  

            	
              Governing Law / Venue. This Agreement
      shall be governed by and construed in accordance with the laws of the
      State of Texas, without regard to the choice of law rules utilized in that
      jurisdiction.  The venue shall be Comanche County,
      Texas..

            

    

    

    
      	
              15)  

            	
              Severability. The
      provisions of this Agreement shall be deemed severable and the invalidity
      or unenforceability of any provision shall not affect the validity or
      enforceability of the other provisions
hereof.

            

    

    

    
      	
              16)  

            	
              Entire
      Agreement. This Agreement constitutes
      the entire agreement between the parties hereto and supersedes all
      prior agreements, if any, understandings and arrangements, oral or
      written, between the parties hereto with respect to the subject matter
      hereof. This Agreement may be executed in one or more
      counterparts.

            

    

    

    
      	
              17)  

            	
              Company Representation.
      The Company represents and warrants that it has obtained or will obtain
      any corporate approvals which are necessary for the Company to enter into
      and implement this Agreement.

            

    

    

    IN
WITNESS WHEREOF, the Company has caused this Agreement to be executed by its
duly authorized officer and the Executive has executed this Agreement as of the
day and year first above written.

    

    
      
        	
                “Executive”

              	 
      	 
      	 
      	
                “Company”

              	 
      	 
      
	
                Dean
      Cagle

              	 
      	 
      	 
      	
                Green
      Energy Live, Inc.

              	 
      	 
      
	 	 	 	 	 	 	 
	/s/
      Dean Cagle	 
      	07/24/2009	 
      	/s/
      Karen Clark	 
      	 07/24/2009
	 
      	 
      	
                Date

              	 
      	
                Karen
      Clark

                CEO

              	 
      	
                Date

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