Document:

Exhibit 10.1

Exhibit 10.1

CONSULTING AGREEMENT

	THIS AGREEMENT (the "Agreement") is made this 18th day of December, 2003, between Texen Oil & Gas, Inc., a Nevada corporation (hereinafter referred to as the "Company), and Pinnacle Research and Consulting Group Ltd., hereinafter referred to as "Consultant." 

RECITALS

	A.  The Company desires to be assured of the association and services of Consultant in order to avail itself of Consultant's experience, skills and abilities and background and knowledge, to advise it upon oil and gas operations, and is therefore willing to engage Consultant upon the terms and conditions herein contained.

	B.  Consultant agrees to be engaged and retained by the Company and upon said terms and conditions.

	NOW, THEREFORE, in consideration of the recitals, promises and conditions in this Agreement, the Consultant and the Company agree as follows:

	1.  CONSULTING SERVICES.  The Company hereby retains Consultant to advise it regarding oil and gas operations. 

	2.  TERM.  The term of this Agreement shall be for a period of one year commencing December 18, 2003  and is renewable for successive six month terms by mutual agreement of the parties. 

	3.  COMPENSATION OF CONSULTANT.  The Company hereby agrees to compensate Consultant 500,000 shares of the Company's common stock issued without restrictive legend.

	4.  EXPENSES.  The Company agrees to pay all reasonable business expenses authorized by the Company and incurred by Consultant in furtherance of the business of the Company, including travel, food, lodging and entertainment expenses, upon presentation by Consultant of receipts in form reasonably satisfactory to the Company.

	5.  RELATIONSHIP OF PARTIES.  This Agreement shall not constitute and employer-employee relationship.  It is the intention of each party that Consultant shall be an independent contractor and not an employee of the Company.  Consultant shall not have authority to act as the agent of the Company except when such authority is specifically delegated to Consultant by the Company.  Subject to the express provisions herein, the manner and means utilized by Consultant in the performance of Consultant's services hereunder shall be under the sole control of the Consultant.  All compensation paid to Consultant hereunder shall constitute earnings to Consultant from self-employment income.  The Company shall not withhold any amounts therefrom as federal or state income tax withholding from wages or as employee contributions under the Federal Insurance Contributions Act (Social Security) or any similar federal or state law applicable to employers and employees.

 

 

	6.  NOTICES.  Any notice, request, demand or other communication required or permitted hereunder shall be deemed to be properly given when personally served in writing or when deposited in the United States mail, postage prepaid, addressed to the other party at the address appearing at the end of this Agreement.  Either party may change its address by written notice made in accordance with this section.

	7.  BENEFIT OF AGREEMENT.  This Agreement shall inure to the benefit of and be binding upon the parties hereto and their respective legal representatives, administrators, executors, successors, subsidiaries and affiliates.

	8.  GOVERNING LAW.  This Agreement is made and shall be governed and construed in accordance with the laws of the state of Nevada and it is agreed that jurisdiction and venue of any actions pertaining to this Agreement will be in Las Vegas, Nevada.

	9.  ASSIGNMENT.  Any attempt by either party to assign any rights, duties or obligations which arise under this Agreement without the prior written consent of the other party shall be void, and shall constitute a breach of the terms of this Agreement.

	10.  ENTIRE AGREEMENT; MODIFICATION.  This Agreement constitutes the entire agreement between the Company and the Consultant.  No promises, guarantees, inducements, or agreements, oral or written, express or implied, have been made other than as contained in this Agreement.  This Agreement can only be modified or changed in writing signed by the party or parties to be charged.

	11.  LITIGATION EXPENSES.  If any action at law or in equity is brought by either party to enforce or interpret the terms of this Agreement, the prevailing party shall be entitled to reasonable attorney's fees, costs and disbursements in addition to any other relief to which it may be entitled.

	In witness whereof, the parties have executed the day and year first above written. 

	
TEXEN OIL & GAS, INC.
	
Pinnacle Research & Consulting Group Ltd.

	

	
BY: 
	
/s/ Tatiana Golovina 
	
BY: 
	
/s/ Ross Little 

	
 
	
Tatiana Golovina, President
	
 
	
Ross Little, President

 

 

 

 

 

 - 2 -Exhibit 10.2

Exhibit 10.2

CONSULTING AGREEMENT

	THIS AGREEMENT (the "Agreement") is made this12th day of December, 2003, between Texen Oil & Gas, Inc., a Nevada corporation (hereinafter referred to as the "Company), and Woodburn Holdings Ltd., hereinafter referred to as "Consultant." 

RECITALS

	A.  The Company desires to be assured of the association and services of Consultant in order to avail itself of Consultant's experience, skills and abilities and background and knowledge, to advise it upon oil and gas operations, and is therefore willing to engage Consultant upon the terms and conditions herein contained.

	B.  Consultant agrees to be engaged and retained by the Company and upon said terms and conditions.

	NOW, THEREFORE, in consideration of the recitals, promises and conditions in this Agreement, the Consultant and the Company agree as follows:

	1.  CONSULTING SERVICES.  The Company hereby retains Consultant to advise it regarding oil and gas operations.

	2.  TERM.  The term of this Agreement shall be for a period of one year commencing December 12, 2003, and is renewable for successive six month terms by mutual agreement of the parties. 

	3.  COMPENSATION OF CONSULTANT.  The Company hereby agrees to compensate Consultant with an option to acquire 250,000 shares of the Company's common stock registered in its Form S-8 registration statement with the Securities and Exchange Commission.  The option exercise price is $0.00001 per share and is evidenced by and subject to the terms of a stock option grant to Robert M. Baker of even date therewith.  The grant is incorporated herein by reference.

	4.  RELATIONSHIP OF PARTIES.  This Agreement shall not constitute and employer-employee relationship.  It is the intention of each party that Consultant shall be an independent contractor and not an employee of the Company.  Consultant shall not have authority to act as the agent of the Company except when such authority is specifically delegated to Consultant by the Company.  Subject to the express provisions herein, the manner and means utilized by Consultant in the performance of Consultant's services hereunder shall be under the sole control of the Consultant.  All compensation paid to Consultant hereunder shall constitute earnings to Consultant from self-employment income.  The Company shall not withhold any amounts therefrom as federal or state income tax withholding from wages or as employee contributions under the Federal Insurance Contributions Act (Social Security) or any similar federal or state law applicable to employers and employees.

 

	5.  NOTICES.  Any notice, request, demand or other communication required or permitted hereunder shall be deemed to be properly given when personally served in writing or when deposited in the United States mail, postage prepaid, addressed to the other party at the address appearing at the end of this Agreement.  Either party may change its address by written notice made in accordance with this section.

	6.  BENEFIT OF AGREEMENT.  This Agreement shall inure to the benefit of and be binding upon the parties hereto and their respective legal representatives, administrators, executors, successors, subsidiaries and affiliates.

	7.  GOVERNING LAW.  This Agreement is made and shall be governed and construed in accordance with the laws of the state of Nevada and it is agreed that jurisdiction and venue of any actions pertaining to this Agreement will be in Las Vegas, Nevada.

	8.  ASSIGNMENT.  Any attempt by either party to assign any rights, duties or obligations which arise under this Agreement without the prior written consent of the other party shall be void, and shall constitute a breach of the terms of this Agreement.

	9.  ENTIRE AGREEMENT; MODIFICATION.  This Agreement constitutes the entire agreement between the Company and the Consultant.  No promises, guarantees, inducements, or agreements, oral or written, express or implied, have been made other than as contained in this Agreement.  This Agreement can only be modified or changed in writing signed by the party or parties to be charged.

	10.  LITIGATION EXPENSES.  If any action at law or in equity is brought by either party to enforce or interpret the terms of this Agreement, the prevailing party shall be entitled to reasonable attorney's fees, costs and disbursements in addition to any other relief to which it may be entitled.

	In witness whereof, the parties have executed the day and year first above written. 

	
TEXEN OIL & GAS, INC.

	
WOODBURN HOLDINGS LTD.

	
 

	
BY: 
	
/s/ Tatiana Golovina
	
BY: 
	
/s/ Robert Baker

	
 
	
Tatiana Golovina, President
	
 
	
Robert M. Baker, President

 

 

 

 

 

 - 2 -DIGITAL LIGHTWAVE EXHIBIT 10.1

Exhibit 10.1 

 

THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AND HAVE BEEN ACQUIRED FOR INVESTMENT AND NOT WITH A VIEW TO, OR IN CONNEC­TION WITH, THE SALE OR DISTRIBUTION THEREOF. NO SUCH SALE OR DISTRIBU­TION MAY BE EFFECTED WITHOUT AN EFFECTIVE REGISTRATION STATEMENT RELATED THERETO OR AN OPINION OF COUNSEL IN A FORM SATISFACTORY TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED UNDER THE SECURITIES ACT OF 1933. 

 

SECURED PROMISSORY NOTE 

 

	 $665,000.00 	
February 13, 2004

Clearwater, Florida

 

For value received, Digital Lightwave, Inc., a Delaware corporation (the " Company "), promises to pay to Optel Capital, LLC (the " Holder "), the principal sum of Six Hundred Sixty Five Thousand Dollars ($665,000.00). Interest shall accrue from the date of this Note on the unpaid principal amount at a rate equal to 10.0% per annum, compounded annually. This Note is subject to the following terms and conditions.

 

1.    Maturity . Principal and any accrued but unpaid interest under this Note shall be due and payable upon demand by the Holder at any time after July 31, 2004 (the " Maturity Date "). Notwithstanding the foregoing, the entire unpaid principal sum of this Note, together with accrued and unpaid interest thereon, shall become immediately due and payable immediately prior to the earlier to occur of (a) a Change of Control (as defined below), (b) the insolvency of the Company, (c) the commission of any act of bankruptcy by the Company, (d) the execution by the Company of a general assignment for the benefit of creditors, (e) the filing by or against the Company of a petition in bankruptcy or any petition for relief under the federal bankruptcy act or the continuation of such petition without dismissal for a period of 90 days or more, or (f) the appointment of a receiver or trustee to take possession of the property or assets of the Company. For purposes of this Note a "Change of Control" shall mean a sale of all or substantially all of the Company’s assets, or any merger or consolidation of the Company with or into another corporation; other than a merger or consolidation in which the holders of more than 50% of the shares of capital stock of the Company outstanding immediately prior to such transaction continue to hold (either by the voting securities remaining outstanding or by their being converted into voting securities of the surviving entity) more than 50% of the total voting power represented by the voting securities of the Company, or such surviving entity, outstanding immediately after such transaction.

 

2.    Payment; Prepayment . All payments shall be made in lawful money of the United States of America at such place as the Holder hereof may from time to time designate in writing to the Company. Payment shall be credited first to the accrued interest then due and payable and the remainder applied to principal. Prepayment of this Note may be made at any time without penalty.

 

3.    Transfer; Successors and Assigns . The terms and conditions of this Note shall inure to the benefit of and be binding upon the respective successors and assigns of the parties. This Note may be transferred only upon surrender of the original Note for registration of transfer, duly endorsed, or accompanied by a duly executed written instrument of transfer in form satisfactory to the Company. Thereupon, a new note for the same principal amount and interest will be issued to, and registered in the name of, the transferee. Interest and principal are payable only to the registered holder of this Note.

 

4.    Governing Law . This Note and all acts and transactions pursuant hereto and the rights and obligations of the parties hereto shall be governed, construed and interpreted in accordance with the laws of the State of Florida, without giving effect to principles of conflicts of law.

 

5.    Notices . Any notice required or permitted by this Agreement shall be in writing and shall be deemed sufficient upon receipt, when delivered personally or by courier, overnight delivery service or confirmed facsimile, or 48 hours after being deposited in the U.S. mail as certified or registered mail with postage prepaid, if such notice is addressed to the party to be notified at such party’s address or facsimile number as set forth below or as subsequently modified by written notice.

 

6.    Amendments and Waivers . Any term of this Note may be amended only with the written consent of the Company and the Holder. Any amendment or waiver effected in accordance with this Section 6 shall be binding upon the Company, each Holder and each transferee of any Note.

 

7.     Officers and Directors Not Liable . In no event shall any officer or director of the Company be liable for any amounts due or payable pursuant to this Note.

 

8.    Security Interest . This Note is secured by all of the assets of the Company in accordance with the Eleventh Amended and Restated Security Agreement among the Company, the Holder and Optel, LLC dated as of the date hereof (the " Security Agreement "). In case of an Event of Default (as defined in the Security Agreement), the Holder shall have the rights set forth in the Security Agreement.

 

9.    Counterparts . This Note may be executed in any number of counterparts, each of which will be deemed to be an original and all of which together will constitute a single agreement.

 

10.    Action to Collect on Note . If action is instituted to collect on this Note, the Company promises to pay all costs and expenses, including reasonable attorney’s fees, incurred in connection with such action.

 

11.    Loss of Note . Upon receipt by the Company of evidence satisfactory to it of the loss, theft, destruction or mutilation of this Note or any Note exchanged for it, and indemnity satisfactory to the Company (in case of loss, theft or destruction) or surrender and cancellation of such Note (in the case of mutilation), the Company will make and deliver in lieu of such Note a new Note of like tenor.

 

This Note was entered into as of the date set forth above.

 

		
COMPANY: 

	 	 
		
DIGITAL LIGHTWAVE, INC. 

	 	 
		
By:/s/ James R. Green 

		

		
Name: James R. Green 

		

		
(print)

		
Title: CEO 

		

	 	 
		
AGREED TO AND ACCEPTED: 

	 	 
		
OPTEL CAPITAL, LLC 

	 	 
		
By: /s/ Chris Phillips 

		

		
Name: Chris Phillips 

		

		
(print) 

		
Title: CFO

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