Document:

f8k123109ex10i_soact.htm

    Exhibit 10.1

     

     

    

    
       

      
        December
30, 2009

        OFFER
LETTER OF AGREEMENT

        William
Shatner

        Studio
City, CA

        

        Dear
Bill:

        

        We are
pleased to make you the following offer. This agreement supersedes all others
between us. We agree to grant you 500,000 three-year warrants of stock in So Act
Network, Inc., (trading symbol SOAN) at $0.52 per share for your endorsement of
our network (your photo, name, and quote approved by you). These warrants will
come with Registration Rights and we will allow all or partial exercise by you
at any time within the three year period. We also agree that we will add these
warrants to our next Registration Statement even if you have not previously
exercised any warrants prior to such time.

         

        As you
may know, we are the ‘Social Network with a Conscience’ using the best features
of Facebook, Myspace, Twitter, YouTube and Google but without spam or ads.
Within 10 days of receipt of this letter signed by you below, you or your
designee will receive these warrants of our common stock in exchange for your
two-year passive endorsement as further described in paragraph three below. As
we evolve, we feel that our value will appreciate and our liquidity will
increase as the world learns about the amazing network we have built & how
it is improving our world.

         

        So Act
assumes complete legal liability for the use of your name under this agreement.
Further, we hold you harmless for any such use and agree to defend and indemnify
you from and against any and all liability of any kind whatsoever arising out of
or related to your affiliation with So Act, at our sole expense in the event of
any action or claim. You agree that we may post your name, approved photo, and a
quote you have approved by you on our So Act web site and within the So Act
Network, solely in connection with the promotion of the So Act Network. The
quotes we will be using for all of our 24 celebrities under this program will be
general and related to the Network use and benefits. Here is your preferred
quote. “Amidst all the gloom, here is a ray of hope. It’s called So Act.” Below
the quote you have approved will be “William Shatner – Movie and Television
Star”.

         

        As is
required for public company disclosure, you agree that we may post a simple
press release announcing the passive endorsement that you have already approved
prior to its being distributed. Finally, you agree to post a simple So Act logo
(linking to us at SoAct.Net) at your web site and/or other social network home
pages such as Facebook, MySpace, Twitter, etc. (if any) that say, “Amidst all
the gloom, here is a ray of hope. It’s called So Act.” We will provide you or
your designee with a simple web source code to accomplish this. By signing below
and faxing back to me at 847-327-1547, you are
signifying your acceptance of the terms outlined herein. We look forward to your
joining us on this worthy mission. We will work hard to make our network a huge
success for you, personally, professionally and financially.

         

      

      Warm
Regards,

       

       

      /s/  Greg Halpern 

      Greg Halpern - Chairman, CEO & President

      So Act Network, Inc.

       

       

       

      Accepted and agreed to as of the date first above written:

       

       

       

       

      By:  /s/   
William Shatner      

            William Shatner

       

       

      A Delaware Corporation (A Public Company)

      
        
          

        
Act@SoAct.Net  Phone 210-401-7667  Business office: 10685-B
Hazlehurst Drive, #6572 Houston, TX  77043  
http://SoAct.Netfs1a2ex10vi_kraigbio.htm

     

    Exhibit 10.6

     

    KRAIG
BIOCRAFT LABORATORIES, INC.

     

    ADDENDUM
TO THE

     

    FOUNDERS
STOCK PURCHASE AND INTELECTUAL PROPERTY TRANSFER

     

    AGREEMENT

     

    THIS
ADDENDUM to the FOUNDERS STOCK PURCHASE AND INTLLECTUAL

    PROPERTY
TRANSFER AGREEMENT ("Agreement") dated the April 26, 2006, between

    Kraig
Biocraft Laboratories, Inc., a Wyoming corpotaion (the "Company") and
Kim

    Thompson,
an individual ("Mr. Thompson") is dated December 26, 2006.

     

    The Board
ofDircetors of the Company (the "Board") and Executive each desires that the
FOUNDERS STOCK PURCHASE
AND INTELECTUAL PROPERTY TRANSFER AGREEMENT be modified and amended by this
ADDENDUM as described below.

     

    NOW,
THEREFORE, in consideration of the mutual promises and undertakings contained in
this ADDENDUM , the adequacy of which are hereby acknowledged, and intending to
be legal[y bound hereby, the parties hereto agree as follows:

     

    Section
2, titled Royalties, shall be deleted, and no royalties shall be owed to Mr. Thompson pursuant to
the FOUNDERS STOCK PURCHASE AND INTELEMAL PROPERTY TRANSFER AGREEMENT, All
references royalties in the agreement are rendered meaningless and void, and
such is the intention of the parties entering into this addendum.

     

    Section
3, titled Exclusive license For Ikon
protective apparel, shall be deleted, and no exclusive license shall be
issued to Mr. Thompson pursuant to section 3.

     

    In
exchange for Mr. Thompson's entering into this addendum and surrendering the
rights contained in former
sections 2 and 3, the Company shall use its best reasonable efforts Lo
issue
to Mr. Thompson, within 12 months from the cafe of this agreement,
200,000 shares of the Company's preferred stock, Said stock shall have no
preference for the payment of dividends, and may be issued without any right to
recieve any dividend. The preferred shares
will however have super voting rights equivalent to 100 votes of Class A
Common shares per share of preferred, such that the total issuance of
preferred shares to Mr. Thompson shall have the voting power of 20,000,000 Class
A shares.

     

    In the
event that the Company, through the use of its best reasonable efforts, is
unable to issue to Mr. Thompson the preferred shares referenced above, the
Company will provide Mr. Thompson with the alternative consideration of one
hundred and twenty thousand dollars S 120,000, payable on the one year
anniversary of this addendum.

     

    IN
WITNESS WHEREOF, the parties hereto have executed this Addendum under seal the
day and year above first written.

     

    
      
        	
                Executive

              	 	 	Company	 
	 	 	 	 	 
	
                /s/Kim
      Kraig Thompson

              	 	 	
                /s/Kim
      Kraig Thompson

              	 
	
                Kim
      Kraig Thompson

              	 	 	
                Kim
      Kraig Thompson

              	 
	
                 

              	 	 	
                C.E.O

              	 
	 	 	 	On
      behalf of Kraig Biocraft Laboratories, Inc,	 

      

    

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
 

    KRAIG
BIOCRAFT LABORATORIES, INC.

     

    FOUNDER'S STOCK
PURCHASE

    AND

    INTELECTUAL
PROPERTY TRANSFER AGREEMENT

     

    This
FOUNDER'S STOCK PURCHASE AND INTELECTUAL PROPERTY TRANSFER AGREEMENT
("Agreement") is dated as of the first day of April 26, 2006, by and between
Kraig Biocraft Laboratories, Inc., a Wyoming corporation (the "Company" or the
'Corporatiorr) and Kim Thompson, an individual ("Mr, Thompson").

     

    The Board
of Directors of the Company (the "Board") and Mr. Thompson each desires that Mr.
Thompson acquire an equity interest in the Company as a founder of the company,
and on the terms and conditions hereinafter set forth. Furthermore Company and
Mr. Thompson each desires that the Company acquire an interest in certain
intellectual property, technology and trade secrets of Mr. Thompson for the
purpose of commercializing the same. The parties enter into this agreement
setting forth the terms and conditions therewith.

     

        NOW,
THEREFORE, in consideration of the foregoing and of the mutual promises and
undertakings contained in this Agreement, and for other good and valuable
consideration, the receipt and adequacy of which are hereby acknowledged, and
intending to be legally bound hereby, the parties hereto agree as
follows;

     

        WHEREAS, the
Corporation desires to issue, and Mr. Thompson desires to acquire, stock of the
Corporation as herein described, on the terms and conditions hereinafter set
forth, and

     

        WHEREAS, the
issuance of common stock, royalties and other benefits hereby is in
consideration for intellectual property and technology transfer advanced to the
Corporation by Mr. Thompson, the adequacy and sufficiency of which is hereby
acknowledged by the Corporation_ and for other good and valuable consideration,
and

     

        WHEREAS, the
issuance of common stock hereby is intended to comply with all provisions
promulgated by the Securities and Exchange Commission (the "SEC") under the
Securities Act of 1933, as amended (the "Act"), and is intended to comply with
regulation D. including sections 504, 505 and 506.

     

        NOW,
THEREFORE, IT IS AGREED between the parties as follows:

     

    1. Stock.
Mr. Thompson hereby purchases from the Corporation, and the

    Corporation
hereby sells to Mr. Thompson, thirty three million two hundred and twenty nine
thousand two hundred (33,229,200) shares of the Common Class A Stock of the
Corporation (the "Stock") at nil par value, in exchange for

     

    Intellectual
Property and Technology transferred to the Corporation, listed in Exhibit A
(hereafter ''the Transferred Intellectual Property").

     

    2. Royalties.
The Corporation further agrees that Mr. Thompson shall receive from
the Corporation, its licensees, subsidiaries, successors and assigns, royalties
on all products employing certain aspects
of the Technology, Specifically Corporation grants and guarantees Mr. Thompson
the following royalty payments:

     

    a. A 1.65
% royalty on al/ use or gross solos of products that are composed of a protein
fiber where one or more protein constituents of the fiber are endogenous to
2ornbyx, and one or more are
exogenous to Bombyx, or
where two or more proteins which are not found together in silk fibers in
nature, are expressed in Bombyx to create a new silk fiber. With the
exception
that no royalty under this provision shall be owing in the event that said silk
fiber is composed entirely of synthetic proteins that do not occur in nature.
Said royalty is payable within 60 days of each financial quarter.

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

       

       

             b. A 1.65 %
royalty on alt use or
gross sales of products that are composed of a protein fiber where one or more
protein constituents of the fiber are exogenous to Bombyx, and where erre or
more of said exogenous protein(s) is not a synthetic protein that is not found
in nature, or is not a protein(s) that is found in spiders. Said
royalty is payable within 60 days of each financial quarter.

    

     

           c. A 0.85 %
royalty on all use or gross sales of products that are composed of a protein
fiber which is produced in or from the silk glands of 8ornbyx, through the use
of genetic engineering or DNA manipulation, or RNA manipulation, or induced
mutation, or the interdiction of genetic sequences which are foreign to Bombyx.
Said royalty is payable within 60 days of each financial quarter.

     

    For
purposes of this section it is understood that silk is a protein fiber.

     

    The
maximum total royalty due under this Section 2 shall be 1 .75%.

     

    In the
event of Mr. Thompson's death, the royalty payments will continue to
Mr. Thompson's designee, as he may hereafter appoint. The Company's obligation
to pay royalties to Ivir. Thompson or his designee on each of the products shall
be in force from the date of this agreement and shall remain in effect on each
of the product as described above until the longer of (I) expiration of the
last-to-expire patent, held or
licensed by the Company on such a product or its method of creation or on the
transgenic organism which expresses the product or its protein component(s) or
(ii) eighteen years from the date of the first commercial sale of such a product
which is covered by this
Agreement. In no event shall royalties be owed under this paragraph after twenty
seven years from the dale of this agreement.

     

    3. Exclusive
license for non protective apparel. The Corporation further agrees that
Mr. Thompson shalt receive from the Corporation an exclusive license on all
non-protective apparel applications of the company's products and technology.
Pursuant to said license, Mr. Thompson will have exclusive rights to sea, make,
or
have made, non-protective apparel which uses the Company's technology or
products worldwide. Non-protective apparel, as used herein, refers to articles
of clothing or decoration which are sold primarily to markets and customers who
are not purchasing the products primarily for protective purposes. Use of the
Company's technology to make shirts, pants, kimonos, undergarments, dresses,
business suits, and curtains are all examples of non-protective apparel.
Sporting goods and sporting protective apparel are excluded from the definition
of non-protective apparel. Shirts with moisture wicking
properties sold to runners is for example excluded, but shirts sold with
a sports brand logo, but
used primarily as an article of casual apparel is included as non-protective
apparel within the meaning of this article.

     

    The
party's anticipate that Mr. Thompson will assign these rights
to a corporation to be formed and referred to herein as "New Company" The
Company will receive 24% of the founder's equity in "New Company, and Mr.
Thompson will receive 76% of the founder's equity.' "New Company" will be
responsible to pay any royalties an its sales that Company would otherwise be
obligated to pay. In the event that Mr. Thompson so elects, he
may exclude the Company from equity participation in New Company and otherwise
retains the rights described in this provision, provided that he will pay the
Company a 4% royalty on all of his use or gross sales of the products described
in this numbered paragraph 3. Otherwise, Mr. Thompson may elect to relinquish all such
rights to the Corporation, in exchange for a 7% royalty on all use or gross sales of the products
described in this numbered paragraph 3, or 45% of the net proceeds thereof,
whichever is greater.

     

    4. All
certificates representing any shares of Stock of the Corporation subject to the
provisions of this Agreement shall have endorsed thereon legends in substantially the following
form:

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

       

       

          "The
securities represented by this Certificate have not been registered under the
Securities Act of 1933, They may not be sold, offered for sale, pledged or
hypothecated in the absence of an effective registration statement as to the
securities under said Act or an opinion of counsel satisfactory to the Company
that such registration is not reouired."

    

     

    5. Allocation of public offering. The Company
grants Mr. Thompson such right to participate in public offerings of the
company's stock as may be determined by the board of directors, by allowing him
to sell the Company's stock in his possession up to a maximum of 20% of the
total public offering. This provision is subject to the reasoned discretion of
the board of directors, and the rights of any other person or entity, if any,
which have contractual rights to similarly participate in such a public
offering. In that event, then the total allocation of privately held shares to
be sold in the Company's public offing shall be apportioned between Mr. Thompson
and any such other persons or entities in the same purport ion as the amount of
founders stock held between Mr. Thompson and such other persons or
entities.

     

    6. Mr.
Thompson shall be granted such "piggy-back" registration rights on registrations
of the Corporation as may be determined by the board of directors,

    
      

      7. Mr.
Thompson shall exercise all rights and privileges of a shareholder of the
Corporation with respect to the Stock.

       

      8. The
parties agree to execute such further instruments and to take such further
action as may reasonably be necessary to carry out the intent of this
Agreement.

    

     

    9. This
Agreement shall be binding and inure to the benefit of the successors and
assigns of the Corporation and be binding and inure to the benefit of Mr.
Thompson's heirs, successors, and assigns.

     

    10. The
parties agree to take all such further action(s) as may reasonably be necessary
to carry out and consummate this Agreement as soon as practicable, and to take
whatever steps may be necessary to obtain any governmental approval in
connection with or otherwise qualify the issuance of the securities that are the
subject of this Agreement.

     

    11.
LIMITED
WARRANTY. THE TRANSFERRED INTELLECTUAL PROPERTY
FROM MR. THOMPSON TO COMPANY IS PROVIDED WITHOUT WARRANTY OF MERCHANTABILITY OR
FITNESS FOR A PARTICULAR PURPOSE OR ANY OTHER WARRANTY, EXPRESS OR IMPLIED. MR. THOMPSON MAKES NO REPRESENTATION OR
WARRANTY THAT THE TRANSFERRED INTELLECTUAL PROPERTY OR METHODS WILL NOT INFRINGE
ANY PATENT OR OTHER PROPRIETARY RIGHT. 

     

        IN NO EVENT
WILL MR. THOMPSON BE LIABLE FOR ANY INCIDENTAL, SPECIAL OR CONSEQUENTIAL DAMAGES
RESULTING FROM EXERCISE OF THE TRANSFERRED INTELLECTUAL PROPERTY OR MANUFACTURE,
SALE, OR USE OF THE INVENTION OR LICENSED PRODUCTS OR
LICENSED METHODS.

     

    THE
COMPANY AGREES THAT IT WILL USE OR EMPLOY THE TRANSFERRED INTELLECTUAL PROPERTY
SOLELY AT ITS OWN RISK.

     

    NOTHING
IN THIS AGREEMENT SHALL BE CONSTRUED AS:

     

    
      	
              (A) 

            	
              A
      WARRANTY OR REPRESENTATION BY MR. THOMPSON AS TO
      THE VALIDITY OR SCOPE OF THE TRANSFERRED INTELLECTUAL PROPERTY OR OF MR.
      THOMPSON PATENT RIGHTS, IF ANY:
      OR

            

    

     

    
    

    
      	
              (B) 

            	
              A
      WARRANTY OR REPRESENTATION THAT THE TRANSFERRED
      INTELLECTUAL PROPERTY, OR ANYTHING MADE, USED, SOLD OR OTHERWISE DISPOSED
      OF UNDER ANY LICENSE GRANTED IN THIS AGREEMENT IS OR WILL BE FREE FROM
      INFRINGEMENT OF PATENTS OR OTHER INTELLECTUAL PROPERTY OR BIOLOGICAL
      MATERIALS OF THIRD PARTIES;
OR

            

    

     

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

     

    
    

    
      	
              (C) 

            	
              AN
      OBLIGATION TO BRING OR PROSECUTE ACTIONS OR SUITS AGAINST THIRD PARTIES;
      OR

            

    

     

    
      	
              (D) 

            	
              CONFERRING BY IMPLICATION,
      ESTOPPEL OR OTHERWISE ANY LICENSE OR RIGHTS UNDER ANY
      PATENTS OR OTHER INTELLECTUAL PROPERTY OF MR.
      THOMPSON OTHER THAN THE TRANSFERRED INTELLECTUAL
      PROPERTY AS DEFINED ABOVE, REGARDLESS OF WHETHER SUCH
      PATENTS ARE DOMINANT
      OR SUBORDINATE TO THE TRANSFERRED INTELLECTUAL PROPERTY ; OR

            

    

     

    
      	
              (E) 

            	
              A
      WARRANTY OR REPRESENTATION THAT THE TRANSFERRED INTELLECTUAL PROPERTY IS
      WORKABLE, VIABLE OR COMMERCIALY
PRACTICAL

            

    

    
    

     

    
    

    
      	(F)	AN
      OBLIGATION FOR MR. THOMPSON TO FURNISH ANY KNOW-HOW
      NOT EXPLICITLY AND SPECIFICALLY PROVIDED IN THIS
    AGREEMENT.

    

     

    12. This Agreement constitutes the entire
agreement between the parties with respect to the subject matter hereof. This
Agreement may not be amended, modified or revoked, in whole or in part, except
by an agreement in writing signed by each of the parties hereto.

     

    13. CHOICE OF LAW, It is
the intention of the parties to this Agreement that this Agreement and the
performance under this Agreement, and all suits and special proceedings under
this Agreement, be construed in accordance with the laws of the State of
Michigan, and that the laws of that state shall govern any dispute that is
presented to arbitration as hereinafter provided.

     

    14. INDEMNIFICATION,
Company shall indemnify Mr. Thompson against any and all expenses,
including amounts paid upon judgments, counsel fees, environmental penalties and
fines, and amounts paid in settlement (before or after suit is commenced),
incurred by
Mr. Thompson in connection with [his or her] defense or settlement of any
claim, action, suit or proceeding in which [he or she] is made a party or which
may be asserted against [him or her] by reason of [his or her] this Agreement or
the issuance of royalties or securities pursuant hereto, Such indemnification
Shall be in addition to any other rights to which those indemnified may be
entitled under any law, bylaw agreement, or otherwise. This provision shall survive the
expiration or
termination of this agreement for any reason.

     

    15. Notices. All notices, requests, demands and
other communications provided for by this Agreement shall be in writing and shall
deemed to have been
given at the time when mailed at any office of the United States Postal
Service enclosed in a certified postage-paid envelope addressed to the
respective party at the addresses set forth below (together with an electronic
copy to the designated e-mail addresses listed below if notice is being served
on Mr. Thompson) or to such changed address as such party may have fixed by
notice to the other party, provided, however, that any notice or change of address
shall be affected only upon receipt and further provided that any notice may be
personally delivered to the respective party by the party giving notice in lieu
of being mailed.

     

     

    
      
        	If to
    Company:	Kraig Biocraft
      Laboratories, Inc.
	 	Attention: CORP
      95
	 	109
      E. 174h
      Street, Suite 7
	 	Cheyenne, WY
      82001

      

       

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

       

       

    

    
      
        	If to Mr.
      Thompson:	Mr. Kim K.
      Thompson
	 	1400
      Dennison Road
	 	East
      Lansing, Michigan 48823

      

       

      
        	
                With
      an electronic copy in either PDF or 

                MS
      Word compatible format to:

              	
                psnor88P@aolcom, and 

                Kim@Kraigbiocraftlaboratories.corn

              

      

       

    

    16. Binding Effect.
This Agreement shall inure to the benefit of and shall be binding upon the Company, its successors
and assigns, and any
corporation which may acquire all or substantially all of the Company's assets
or into which the Company may be consolidated or merged, and shall inure to the
benefit of Mr. Thompson's
personal or legal representatives, executors, administrators, successors, heirs,
distributees, devisees and legatees. Upon Mr. Thompson's death, all amounts,
warrants, and other compensation, to which he is entitled hereunder, unless
otherwise provided herein, shall be paid in accordance with the terms of this
Agreement to Mr. Thompson's designee, or, if there be no such designee, to Mr.
Thompson's estate,

     

    17. Effect of Prior Agreements. This agreement does not supersede, nor shall
it be interpreted as conflicting with, the employment agreement between
the parties and dated April 26, 2006.

     

    18. Settlement by Arbitration. Any
claim or controversy that arises out of or relates to this agreement, or the
breach of it, shall be settled by binding arbitration in accordance with the
rules of JAMS. Said arbitration shall be before a single arbitrator whose
decision shall be binding and final, Unless the parties agree otherwise, the
arbitration shall be held in the JAMS offices in Chicago, Illinois, Judgment upon
the award rendered may be entered in any court with jurisdiction. In the event
that the dispute involves the
withholding by the Company or the refusal to pay or issue, by the Company, of
any payment, compensation or security due under the provisions or this agreement
to Mr. Thompson, his spouse, family or
designee, and such spouse, family or designee are the prevailing or
substantially prevailing parties, the Arbitrator shall award pre judgment
interest on any such compensation at the annual rate of 14%, or the maximum
amount allowable under the law if less than 14%.

     

    19. Execution in Counterparts.
This Agreement may be executed by the parties hereto signing the same instrument, or by each pally hereto signing a
separate counterpart or
counterparts, each of which shall be deemed to be an original, but
all of which together shall constitute one and the same instrument The
parties agree that documents executed by facsimile shall be acceptable in this transaction, and the signatures
thereof shall have the serrie force and
effect as original signatures.

     

    IN WITNESS WHEREOF, the parties hereto have
executed this Agreement under seal the day and year above first
written.

     

    
       

      
        
          	
                  Mr.
      Thompson

                	 	 	Company	 
	 	 	 	 	 
	
                  /s/Kim
      Kraig Thompson

                	 	 	
                  /s/Kim
      Kraig Thompson

                	 
	
                  Kim
      Kraig Thompson

                	 	 	
                  Kim
      Kraig Thompson

                	 
	
                   

                	 	 	
                  C.E.O

                	 
	 	 	 	On
      behalf of Kraig Biocraft Laboratories, Inc,	 

        

      

       

    

    
      EXHIBIT
A: Intellectual Property and Technology transferred to the
Corporation.

       

      An ATTACHMENT
to: KRAIG BTOCRAFT LABORATORIES, INC., FOUNDER'S
STOCK PURCHASE
AND INTELECTUAL PROPERTY TRANSFER AGREEMENT.

    

     

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    
       

    

    EXHIBIT
A: Intellectual Property and Technology transferred to the
Corporation.

     

    An ATTACHMENT
to: KRAIG BTOCRAFT LABORATORIES, INC., FOUNDER'S
STOCK PURCHASE
AND INTELECTUAL PROPERTY TRANSFER AGREEMENT.

     

    Description
of Intellectual
Property and Technology.

     

    A
provisional patent application, and
the Lechnology and inventions described therein, filed with the US Paten[ arid
Trademark office on or about
January 28, 2006, and titled:

     

    Transgenic expression system for the
commercial production of exogenous proteins and protein composite silks,
targeting the silk glands of the silkworm (Bomhyx mori), and the creation and
production of unique silks made from new combinations of silk protein.

     

    Inventor:
Kim
K, Chompson

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