Document:

AUTHOR AGREEMENT

 

AGREEMENT made _______________, 2013 (“Effective
Date”) between Readaboo, LLC, a New York limited liability company (“Readaboo” or “Company”), and
_________________________ (“Author”) concerning the work or works set forth on Exhibit A., attached hereto and incorporated
herein (collectively, the “Work").

 

1.     
Rights Granted 

 

1.1             
The Author grants to Readaboo the non-exclusive right to sell the Work in digital
format in the English language throughout the World.

 

1.2             
All rights to the Work not specifically granted to Readaboo in this Agreement are
reserved by the Author. 

 

2.     
Delivery of the Work 

 

2.1             
The Author shall deliver to Readaboo the following:

 

		(a)	a digital file of the complete manuscript for the Work in the following formats: (all checked apply)

 

___
EPub

 

___
Kindle/Mobi

 

___
PDF

 

___Other:
_____________

 

		(b)	a digital file of the cover art and any illustrations, in .jpg or .gif format

 

		(c)	the retail price of the Work

 

		(d)	one-paragraph description of the Work

 

		(e)	author biography

 

		(f)	name of publisher and publication date; print length; and ISBN of the print edition, if any.

 

2.2             
After the Work has been accepted, Readaboo may, at its option, format the Work
into another electronic e-book format if the Author has not provided Epub, Mobi and PDF versions to Readaboo already. Readaboo,
however, shall make no changes to the Work other than those necessary to comply with the new format.

 

3.     
Sale of the Work 

 

3.1             
Readaboo shall make the Work available for sale on its web site upon the beta launch
of Readaboo’s subscription service.

 

    	READABOO,
                                         LLC -- CONFIDENTIAL 	

Page 1

    	 

    

 

 

4.     
Copyright 

 

4.1             
Readaboo shall include a copyright notice in all publications of the Work in conformity
with the United States Copyright Act, as amended, and the Universal Copyright Convention, in the name of the Author. It shall be
the responsibility of the Author to register the copyright on the Work in the Author’s name with the United States Copyright
Office if not already registered.

 

4.2             
Any textual or illustrative material prepared for the Work by Readaboo at its expense
shall be the property of Readaboo.

 

4.3             
NOTE: IMPORTANT! If Author’s cover design/illustrations were created by another
person, Author must check with the designer concerning Author’s rights to publish the design or illustrations. The designer
retains copyright unless written grant of rights or permission is given to Author. 

 

5.     
Quoted Material 

 

5.1             
The Work shall contain no material including but not limited to art, illustrations,
and quotes, from other copyrighted works without a written consent of the copyright holder. The Author will obtain such consents
at his or her own expense and file them with Readaboo at the time the Work is delivered. Any obligations associated with permissions,
such as free copies, will be the obligation of the Author.

 

6.     
Royalties 

 

6.1             
Readaboo shall sell the Work as part of a five-book package (“BookBunch”)
to its subscribers. 

 

6.2             
Readaboo shall pay the Author a royalty on sales of the Work in the amount of 70%
of the Work’s pro rata share of the subscription price of $4.99. Example: if a subscriber chooses a package
that includes one book with a retail price of $2.99, and four books with a retail price of $1.99, the $2.99 author would receive
a royalty of $0.95, calculated as follows:

 

$2.99 [retail price] /$10.95[sum
of retail prices of the 5 books chosen] = 0.273

0.273 x $4.99 [subscription
price] = $1.36 x 70% royalty= $0.95.

 

6.3             
  No royalties are paid for digital copies sold to the Author, distributed
for review, advertising, publicity, or sales promotion. 

 

7.     
 Payment and Accounting 

 

7.1             
Author must own a valid PayPal account to receive royalties. Authors who are U.S.
citizens must provide a valid tax identification number to comply with U.S. tax law.

 

7.2             
Royalty payments are processed with fifteen days after the end of each calendar
quarter, in U.S. dollars. Readaboo observes standard holidays recognized in the United States. Royalty payments are only made on
author accounts with outstanding balances of $10.00 US or more accrued by the last day of the previous month. Accounts with outstanding
balances of less than $10.00 US are not paid until they reach $10.00 US or until the account is terminated, whichever happens first.
Accounts with accrued royalties of between $10.00 and $75.00 inclusive, shall be paid and sent via PayPal. Accounts with accrued
royalties over $75.00 shall be paid via PayPal or by check to the Author’s address of record at the option of the Author.

 

    	READABOO,
                                         LLC -- CONFIDENTIAL	

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7.3             
Royalties are paid only on sales deemed final. Criteria for deeming a sale final
are as follows: 

 

		(a)	the sale has been processed by Readaboo’s sales, and

 

		(b)	the proceeds of the sale have been deposited in Readaboo’s bank account.

 

		(c)	Only when these two criteria have been met, will royalties be credited to an author’s account.

 

7.4             
Sales deemed final may be reversed in the following circumstances: 

 

		(a)	The customer requests, and Readaboo issues, a refund for a subscription.

 

		(b)	Credit card fraud involving a subscription.

 

		(c)	A credit card is used for the purchase of a subscription and the credit card company issues a chargeback,
which is defined as a refusal to pay because the customer deems the charge unauthorized. Because of the slow nature of credit card
companies, a chargeback may take several months to resolve. For this reason, sales deemed final may be reversed at any time.

 

7.5 
If a sale deemed final is reversed and the royalty has already been paid to the
Author, the amount of the royalty paid will be deducted from future royalties owed to the Author by Readaboo. If future royalties
owed to the Author by Readaboo are insufficient to cover the cost of sales that have been reversed, the Author is responsible for
refunding the money to Readaboo within 30 days. 

 

8.     
 Author’s Warranties and indemnity 

 

8.1             
Author warrants to Readaboo that:

 

		(a)	Author is the sole author of the Work and sole owner of the rights granted in this Agreement and
has the right to enter this Agreement and can convey the rights granted to Readaboo;

 

		(b)	The Work is original except for material for which written third party permissions have been obtained;
the Work does not infringe upon or violate any copyright, trademark, or trade secret; statements in the Work asserted as fact are
true or based upon generally accepted research practices; and

 

		(c)	The Work contains no material that is libelous, in violation of any right of privacy or publicity,
or harmful so as to subject Readaboo to liability to any third party or otherwise contrary to law.

 

 

    	READABOO,
                                         LLC -- CONFIDENTIAL	

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8.2             
The Author shall indemnify and hold Readaboo and its distributors and licensees
harmless against all liability, including expenses and reasonable attorneys’ fees, from any claim finally sustained against
Readaboo resulting from a breach by Author of the foregoing warranties. Each party will give prompt notice to the other if any
claim is made and the Author will cooperate with Readaboo, who will direct the defense thereof. Pending any settlement, final resolution
or clear abandonment of the claim, Readaboo may engage counsel of its choice and may withhold in a reasonable amount sums due the
Author under this or any other Agreement between the parties. The provisions of this paragraph shall survive termination of this
Agreement.

 

8.3             
Readaboo reserves the right to stop selling the Work and to freeze all unpaid royalties
for any author whose Work is involved in a legal dispute, or pending legal dispute. 

 

8.4             
If, during the existence of this Agreement any entity makes unauthorized use of
Author’s Work, it is the sole responsibility of Author to take legal action as may be required to restrain such wrong or
to seek damages and Author shall bear all costs and expenses and, subsequently, Author shall keep all remunerations resulting from
the legal actions. 

 

8.5             
The Author acknowledges that because of the digital nature of these files, it is
possible for them to be replicated and distributed illegally once they are purchased by the customer/subscriber and outside of
the control of Readaboo. The Author shall not hold Readaboo liable if such a situation should occur. 

 

8.6             
Author is responsible for keeping Readaboo current on any and all email address
and mailing address changes. Readaboo will terminate an author’s contract without notice if the author does not respond to
Readaboo’s communications. 

 

8.7             
If an Author uses an email service that filters incoming email for spam, this may
create communication difficulties for Readaboo and the Author. Author is encouraged to provide Readaboo with at least two email
addresses from different services to further prevent communication difficulties. 

 

9.     
Term and Termination 

 

9.1             
The term of this Agreement shall commence on the Effective Date and shall remain
in Effect until cancelled by either party. Either party may terminate this Agreement by giving the other party thirty days (30)
written notice. In the event of termination of this Agreement for any reason, all rights granted by the Author in Section 1 automatically
revert back to Author.

 

10. 
Confidentiality 

 

10.1         
During the course of this Agreement and beyond, Author may receive information
relating to Readaboo and related entities that is not known to the general public ("Confidential Information"). Confidential
Information includes, without limitation, this Agreement and information relating to sales consummated. The Author agrees that:

 

    	READABOO,
                                         LLC -- CONFIDENTIAL	

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		(a)	all Confidential Information will remain Readaboo’s exclusive property;

 

		(b)	the Author will use Confidential Information only as is reasonably necessary for the relationship
with Readaboo; and

 

		(c)	the Author will not disclose Confidential Information to any individual, company, or other third
party other than authorized agents, representatives and advisors.

 

11. 
General provisions 

 

11.1         
This Agreement shall be of no force and effect unless signed by both parties within
60 days of the Effective date first stated above. 

 

11.2         
Governing Law; Dispute Forum. If a
dispute arises between Readaboo and Author, this Agreement shall be governed in all respects by the laws of the State of New York
as they apply to agreements entered into and to be performed entirely within New York between New York residents, without regard
to conflict of law provisions. Author agrees that any claim or dispute Author has against Readaboo must be resolved exclusively
by a state court located in New York County, New York, except as otherwise agreed by the parties. Author agrees to submit to the
personal jurisdiction of the court located within New York, New York for the purpose of litigating all such claims or disputes.
Readaboo will, however, consider reasonable requests to resolve the dispute through alternative dispute resolution procedures,
such as mediation or arbitration, as alternatives to litigation.

 

11.3         
No advertisements shall be included in any format of the Work without the Author’s
written consent. 

 

11.4         
If Readaboo is required by law to withhold and pay to any U.S. or foreign government
taxing authority any portion of the amounts due the Author under this Agreement, such payments shall be deducted from the amounts
due the Author hereunder.

 

11.5         
In the event of the bankruptcy, insolvency or liquidation of Readaboo, this Agreement
shall terminate and all rights granted to Readaboo shall revert to the Author automatically and without the necessity of any demand
or notification.

 

11.6         
This Agreement shall be binding upon and inure to the benefit of the heirs, executors
or administrators and assigns of the Author and the successors and assigns of Readaboo and may not be assigned by either without
the written consent of the other, with the following exceptions. The Author may assign the Author’s right to receive payment
under this Agreement upon written notice to Readaboo. Readaboo may upon written notice to the Author assign this Agreement to any
company that acquires or succeeds to all or a substantial portion of the assets of Readaboo.

 

11.7         
This Agreement contains the entire understanding of the Author and Readaboo with
reference to the Work; there are no warranties other than those expressly stated in this Agreement. No waiver or modification of
any provision of this Agreement shall be valid unless in writing and signed by both parties. No waiver of any breach shall be deemed
a waiver of any subsequent breach. If any provision of this Agreement is held to be invalid or unenforceable, the remaining provisions
shall not be affected.

 

    	READABOO,
                                         LLC -- CONFIDENTIAL	

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Author hereby acknowledges and agrees he
or she has received a copy of and has fully reviewed and understands the Agreement, exhibits, schedules and attachments.

 

IN WITNESS WHEREOF, the parties have caused
this Agreement to be signed and delivered as of the Effective Date.

 

	Readaboo, LLC:	 	Author:
	By:	 	 
	 	 	 
	 	 	Signature
	
        

        

        Signature
	 	

        

	 	 	 
	

        Name and Title
	 	

        Printed Name

	 	 	 
	 	 	 
	 	 	

        Social Security No. or Tax Identification Number

 

    	READABOO, LLC -- CONFIDENTIAL	
 
 Page 6ex10-1.htm

Exhibit 10.1

 

MUTUAL TERMINATION OF INDEPENDENT CONTRACTOR AGREMENT

 

July 22, 2014

 This Mutual Termination of Independent Contractor Agreement (the “Agreement”) is between STW Resources Holding Corp., a Nevada corporation, located at 3424 S CR 1192, Midland, Texas 79706 (the “Company”), and Audry Lee Maddox,  who resides at 5512 Los Patios, Midland, Texas 79707 (the “Contractor”).

WHEREAS, Company and Contractor entered into a series of Independent Contractor Agreement – Cash Compensation agreements, the latest beginning January 01, 2013 and ending December 31, 2013, a copy of which is attached as Exhibit A to this Agreement (the “Independent Contractor Agreements”), whereby Contractor served as the Company’s Chief Operating Officer;

                WHEREAS, the Company was financially unable to pay all of Contractor’s cash compensation of $12,500.00 per month under the Independent Contractor Agreements, the total amount of which accrued as of June 30, 2014 is $245,500.00 (“Back Pay”), as set forth in Exhibit B to this Agreement, Unpaid Cash Compensation Schedule;

WHEREAS, Contractor has accrued Director’s Compensation of $37,500.00 through June 30, 2014, which is to be paid as directed by the Board of Directors to all Directors, either in cash or stock of the Company (the “Accrued Director Compensation”), as the Board so determines in its sole discretion, pursuant to the Board of Directors Appointment Agreement signed by Contractor on June 12, 2013, a copy of which is attached as Exhibit C to this Agreement (the “Director Agreement”); and

WHEREAS, contemporaneous with the signing of this Agreement, Contractor desires to tender his resignation as Chief Operating Officer of the Company, as an officer or manager of the Company’s wholly or partially owned subsidiaries and as a Director of the Company, all of which are to be effective June 30, 2014.

THEREFORE, for good and valuable consideration, the receipt and sufficiency of which from company is acknowledged and accepted by Contractor, it is agreed as follows:

1.           Contractor resigns his positions as Chief Operating Officer and as a Director of the Company, effective June 30, 2014, together with any officer, manager or director positions which Contractor may hold with any of Company’s wholly owned or partially owned subsidiaries.  Contractor will sign and deliver to the Company his officer and manager resignations in the form of Exhibit D-1, Audry Lee Maddox Resignation of Officer and Manager Positions with STW Resources Holding Corp. and its Subsidiaries, attached hereto, and will sign and deliver to the Company his director resignation in the form of Exhibit D-1, Audry Lee Maddox Resignation as Director of STW Resources Holding Corp. attached hereto.

2.           Company accepts and confirms Contractor’s resignations of his officer, manager and director positions with the Company, effective June 30, 2014.

3.           Starting as of July 1, 2014, neither Company nor any of Company’s wholly or partially owned subsidiaries shall have any further obligation under the Independent Contractor Agreements, the Director Agreement or any other informal agreements, if such exist, to pay Contractor any manner of compensation (salary, stock or profit sharing, etc.) or benefits (car allowance, health benefits, cell phone, etc.). Contractor specifically waives payment of same and discharges Company of any further obligation to pay same, and in lieu thereof, any payments to Contractor shall be paid solely thereafter under the payment terms of this Agreement.

 

Mutual Termination of Independent Contractor Agreement

 

	Initials: ______ (Company)    ______ (Contractor)	 Page 1 

 

  

  

  

4.           As additional consideration to Contractor (the “Additional Consideration”), the Company will: (a) assign any of its rights in Contractor’s membership in Ranchland County Club of Midland, Texas (currently held under Company’s and Contractor’s name jointly) to Contractor in his sole name; and (b) issue to Contractor as severance compensation one million, five hundred thousand (1,500,000) shares of the Company’s restricted Common Stock, to be issued on or before 30 days after the date that Contractor executes this Agreement and delivers to Company Contractor’s written resignations, set forth in Exhibits D-1 and D-2, for which Contractor will not be required to provide any future services to the Company as an officer of the Company,  as an officer or manager of any of the Company’s subsidiaries or as a director of the Company.

5.           Upon the execution of this Agreement and for a minimum of ninety days thereafter, the Company shall diligently apply and use its best efforts to remove Contractor from any and all personal guarantees or other guarantees of the Company’s financial obligations for which Contractor is a guarantor; and, to the extent that there remains any unreleased guaranty obligations, the Company, at its own expense, shall defend, indemnify and hold harmless Contractor from any guaranty obligations that are not released and remain in full force and effect.

6.           With regard to Contractor’s personally incurred travel expenses and miscellaneous expenses, accrued on or before June 25, 2014 on behalf of the Company that remain unreimbursed as of the date of this Agreement, upon submission of proof of such accrued expense payments (such proof having been submitted on or before July 30, 2014), the Company will reimburse Contractor for such personally incurred Company-related expenses on or before August 15, 2014.

7.           With regard to Contractor’s Back Pay, the Company agrees to pay the Back Pay to Contractor over a thirty-six (36) month period following the execution of this Agreement, with the Company making minimum monthly payments of $5,000.00 per month, beginning on August 1, 2014.  With regard to the Accrued Director Compensation, the payment of it shall be subject to approval by the Company’s Board of Directors at the meeting where all Directors’ compensation for 2014 is approved or modified and paid in cash or the Company’s shares of common stock in the sole discretion of the Board of Directors which Board shall treat Contractor in the same manner as all of the other Directors of the Company.

8.           Contractor represents and warrants to Company, that as seven business days after the date of complete execution of the Agreement, Contractor has or will have turned over to Company all tangible company information and documents, both physical information and documents and all electronic versions thereof, as well as has or will have given all login information and passwords to Company with regard to any online information or services websites.  On or before seven business days after the date of the complete execution of this Agreement, Contractor will provide his laptop and/or desktop computer or “cloud” offline storage accounts to a third party information technology (IT) firm in Midland, Texas designated by the Company (and at the Company’s expense) to download and copy all Company information and company emails and delete such files from Contractor’s laptop, desktop or cloud storage accounts.  Contractor may be present along with a designated Company representative to verify that only Company related matters are downloaded/copied/deleted.  Failure or refusal of Contractor to comply with this Section 8 shall give the Company the right to proceed with enforcing noncompliance by judicial means if necessary, notwithstanding any other release language in this Agreement.

9.           Dispute Resolution.  The parties agree that any civil suit, action, or proceeding between Contractor (and Contractor’s attorneys, successors, and assigns) and the Company (and its affiliates, shareholders, directors, officers, executives, members, agents, successors, attorneys, and assigns) relating in any manner whatsoever to this Agreement shall be brought in either the United States District Court for the Western District of Texas or in a Texas state court in the County of Midland, state of Texas and that the parties shall submit to the jurisdiction of such court.  The parties irrevocably waive, to the fullest extent permitted by law, any objection they may have to the laying of venue for any such suit, action or proceeding brought in such court.

Mutual Termination of Independent Contractor Agreement

 

	Initials: ______ (Company)    ______ (Contractor)	 Page 2 

 

  

  

  

10.           This Agreement is intended to be the final, complete, and exclusive statement of the terms of the Parties’ mutual termination of the Independent Contractor Agreements, and may not be contradicted by evidence of any prior or contemporaneous statements or agreements, except for the terms and agreements specifically referenced herein (including Exhibit A, the Independent Contractor’s Agreement, and Exhibit C, the Director Agreement).  Notwithstanding Contractor’s resignation as a director, paragraphs 4.1 and 4.2 (Confidential Information), 4.3 (License and Assignment of Rights) and 4.4 (Noncompetition and Nonsolicitation) of the Director Agreement expressly survive Contractor’s resignation as a director of the Company and are governed by the terms of the Director Agreement.

11.           Contractor further agrees to reasonably cooperate with Company in entering into and signing any other documents necessary to effectuate the purposes of this Agreement.

12.           This Agreement may not be amended except by a writing signed by Contractor and by a duly authorized representative of the Company.  Delay or failure of either party to exercise any right under this Agreement shall not constitute a waiver of such right by such party.

13.           Contractor agrees that Contractor will not assign any rights or obligations under this Agreement (other than by operation of law), except the ownership rights in any shares of common stock to be issued to Contractor, except as may be restricted by the securities laws of the United States or any Shareholder Agreement applicable to all common stock shareholders.

14.           If any provision of this Agreement shall be held by a court or arbitrator to be invalid, unenforceable, or void, such provision shall be enforced to fullest extent permitted by law, and the remainder of this Agreement shall remain in full force and effect. In the event that the time period or scope of any provision is declared by a court or arbitrator of competent jurisdiction to exceed the maximum time period or scope that such court or arbitrator deems enforceable, then such court or arbitrator shall reduce the time period or scope to the maximum time period or scope permitted by law.

15.           This Agreement shall be governed by and construed in accordance with the laws of the State of Texas.

16.           This Agreement shall be construed as a whole, according to its fair meaning, and not in favor of or against any party.  Captions are used for reference purposes only and should be ignored in the interpretation of the Agreement.

17.           Binding Agreement:  Each party represents and warrants to the other that the person(s) signing this Agreement below has authority to bind the party to this Agreement and that this Agreement legally binds both the Company and Contractor.  This Agreement is binding upon and benefit the parties and their heirs, administrators, executors, successors and permitted assigns.  To the extent that the practices, policies, or procedures of the Company, now or in the future, are inconsistent with the terms of this Agreement, the provisions of this Agreement shall control.

18.           Contractor acknowledges Contractor has had the opportunity to consult legal counsel concerning this Agreement, that Contractor has read and understands the Agreement, that Contractor is fully aware of its legal effect, and that Contractor has entered into it freely based on Contractor’s own judgment and not on any representations or promises other than those contained in this Agreement.

Mutual Termination of Independent Contractor Agreement

 

	Initials: ______ (Company)    ______ (Contractor)	 Page 3 

 

  

  

  

19.           This Agreement may be signed in multiple counterparts.  The transmission by facsimile machine or by scanned e-mail of the signed document shall be considered the equivalent of an original signature by the sending Party, and accepted as such by the receiving Party.

SIGNED, effective July 22, 2014

Company: STW Resources Holding Corp.

 

By:  ____________________

Stanley T. Weiner, its CEO

 

Contractor: Audry Lee Maddox

 

X. _____________________

 

Audry Lee Maddox

 

 

 

Mutual Termination of Independent Contractor Agreement

 

	Initials: ______ (Company)    ______ (Contractor)	 Page 4

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