Document:

Unassociated Document

    EXHIBIT
      10.9

    

    AGREEMENT

    

    WHEREAS,
      Oil For America (OFA) has obtained the right to drill a twin to the Evaline
      1-18
      Well from the present lease holder and operator Helis Oil & Gas, LLC
      (Helis), at such location as OFA has determined to be the best location to
      produce oil from the Lodgepole Reef, and

     

    WHEREAS,
      OFA has obtained the right under an Operating Agreement to drill two additional
      Lodgepole Reefs identified by OFA on the leases owned by Helis (the “Leases”),
      which rights are documented in the attached Agreement between OFA and Helis;
      and

     

    WHEREAS,
      OFA has obtained the agreement of Coastal Petroleum Company (Coastal) to act
      as
      operator of the project until the twin to the Evaline 1-18 well is producing;
      and

     

    WHEREAS,
      each of the undersigned persons (“Participants”) desire to participate in the
      costs of drilling this twin well and the operations thereof, and to have their
      pro-rata share of the opportunity to participate in the wells to test the two
      additional Lodgepole Reefs on the Leases; 

     

    NOW
      THEREFORE, the undersigned parties agree upon the following terms which shall
      govern their rights and responsibilities:

     

    1. The
      expected cost of the twin well to the Evaline 1-18 is $600,000 to drill,
      complete and connect the production to the existing surface facilities at the
      well (the “Anticipated Cost(s)”). The Anticipated Cost is divided into six parts
      (the “Participating Interests”) and each Participant shall pay to Coastal their
      pro-rata share of this cost at the time of signing this Agreement. Coastal
      shall
      act as operator of the program. (Coastal itself is purchasing a 1/6
      Participant’s Interest.) 

     

    2. In
      the
      event actual costs exceed the Anticipated Costs (“Additional Costs”), each
      Participant shall be obligated to pay their pro-rata share of the Additional
      Costs within ten (10) days of the notice from Coastal requesting such payment.
      The Participating Interest of any person who fails to pay such cost when due
      shall be divided equally amongst the remaining Participants who agree to pay
      such pro-rata share not paid timely by a Participant. Any funds remaining after
      completion of the well will be returned pro rata to the Participants. A person
      may purchase more than one Participant Interest.

     

    3. Coastal
      shall drill, complete and tie the production into the current facilities as
      soon
      as reasonably possible pursuant to the Operating Agreement with Helis and this
      Agreement. At the time satisfactory production is achieved, Coastal shall assign
      its responsibilities as operator of the well to Helis.

     

    4. At
      the
      time the required production is established (more than 100 barrels per day),
      Helis shall assign a 60% working interest in the lease to Oil For America.
      Oil
      For America shall assign the 60% interest to Coastal, which shall act as
      operator of the 60% interest for the benefit of the Participating Interests,
      Bill Cullen, OFA and itself as operator. Coastal shall forward the shares of
      revenues less costs in the following manner:

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    Before
      Payout of the Well: 

     

    
      	 	
              (i)

            	
              A
                9% working interest (out of the 60% working interest owned by OFA)
                to each
                Participant

            

    

     

    
      	 	
              (ii)

            	
              A
                5% working interest (out of the 60% working interest) to Coastal
                as
                operator.

            

    

     

    
      	 	
              (iii)

            	
              A
                1% working interest (out of the 60% working interest) to Bill
                Cullen

            

    

     

    After
      Payout of the Well:

     

    
      	 	
              (i)

            	
              A
                6.75% working interest (out of the 60% working interest) to each
                Participant

            

    

     

    
      	 	
              (ii)

            	
              A
                13.5% working interest (out of the 60% working interest) to
                OFA

            

    

     

    
      	 	
              (iii)

            	
              A
                5% working interest (out of the 60%) to Coastal as
                operator

            

    

     

    
      	 	
              (iv)

            	
              A
                1% working interest (out of the 60% working interest) to Bill
                Cullen

            

    

     

    5. Bill
      Cullen may reassign his interest at any time after proper notice to Coastal;
      such interest to be assigned pro-rata to the benefit of the parties pursuant
      to
      the above ratios of working interests, excluding his interest.

     

    6. OFA
      may
      assign its interest to its individual partners and/or their
      assigns.

     

    7. OFA
      shall
      confidentially identify to Coastal and the Participants each of the other two
      Lodgepole Prospects on the leases. Coastal shall prepare a drilling and
      completion plan along with an Authorization For Expenditure (“AFE”) and give at
      least 30 days notice to each Participant of its intention to commence
      operations. Coastal, along with OFA, shall endeavor to obtain the agreement
      of
      Helis to reduce its working interest for the new wells prior to the preparation
      of the AFE. Any reduction shall be apportioned among the parties pro rata.
      Each
      Participant shall have 21 days to pay their share of the AFE to Coastal in
      order
      to participate in the program. In the event one or more Participants decline
      to
      participate in the new program such share will be offered on a
      first-come-first-served basis to the remaining participants. In the event none
      of the Participants acquires the declined share it will be offered to other
      persons who have indicated an interest in acquiring a Participating Interest,
      including OFA or its individual partners. Neither Coastal nor any of the
      Participants shall be entitled under this Agreement to any further prospects
      from OFA in this area, unless acquired under the terms of another agreement
      with
      OFA.

    
      
        
        

      

      
        Page
          2

        
          

        

      

       

    

     

    8. Neither
      Coastal nor any Participant shall have any right to OFA's proprietary AI, AII,
      AIII or AIV Technology, any of OFA’s maps, photos or data, which are the
      exclusive property of OFA. Neither Coastal nor any of the Participants will
      disclose any of such information revealed to them by OFA.

     

    9. All
      notices and other communications given or made pursuant to this Agreement shall
      be in writing and shall be deemed effectively given: (a) upon personal delivery
      to the party to be notified, (b) when sent by confirmed electronic mail or
      facsimile if sent during normal business hours of the recipient, and if not
      so
      confirmed, then on the next business day, (c) five (5) days after having been
      sent by registered or certified mail, return receipt requested, postage prepaid,
      or (d) one (1) day after deposit with a nationally recognized overnight courier,
      specifying next day delivery, with written verification of receipt. All
      communications shall be sent to the respective parties at their address as
      set
      forth on the signature page, or to such e-mail address, facsimile number or
      address as subsequently modified by written notice given in accordance with
      this
      Section. 

     

    10. If
      any
      action at law or in equity (including arbitration) is necessary to enforce
      or
      interpret the terms of any of this Agreement, the prevailing party shall be
      entitled to reasonable attorney’s fees, costs and necessary disbursements in
      addition to any other relief to which such party may be entitled.

     

    11. Amendments
      and Waivers.
      Any
      term of this Agreement may be amended, terminated or waived only with the
      written consent of each of the Parties hereto. 

     

    12. Severability.
      The
      invalidity or unenforceability of any provision hereof shall in no way affect
      the validity or enforceability of any other provision. No delay or omission
      to
      exercise any right, power or remedy accruing to any party under this Agreement,
      upon any breach or default of any other party under this Agreement, shall impair
      any such right, power or remedy of such non-breaching or non-defaulting party
      nor shall it be construed to be a waiver of any such breach or default, or
      an
      acquiescence therein, or of or in any similar breach or default thereafter
      occurring; nor shall any waiver of any single breach or default be deemed a
      waiver of any other breach or default theretofore or thereafter occurring.
      Any
      waiver, permit, consent or approval of any kind or character on the part of
      any
      party of any breach or default under this Agreement, or any waiver on the part
      of any party of any provisions or conditions of this Agreement, must be in
      writing and shall be effective only to the extent specifically set forth in
      such
      writing. All remedies, either under this Agreement or by law or otherwise
      afforded to any party, shall be cumulative and not alternative.

     

    13. This
      Agreement (including the Exhibits hereto), constitute the full and entire
      understanding and agreement between the parties with respect to the subject
      matter hereof, and any other written or oral agreement relating to the subject
      matter hereof existing between the parties are expressly
      canceled.

    
      
        
        

      

      
        Page
          3

        
          

        

      

       

    

     

    14. The
      parties agree that any unresolved controversy or claim arising out of or
      relating to this Agreement, except as: (i) otherwise provided in this
      Agreement, or (ii) any such controversies or claims arising out of either
      party’s intellectual property rights for which a provisional remedy or equitable
      relief is sought, shall be submitted to arbitration by one arbitrator mutually
      agreed upon by the parties, and if no agreement can be reached within thirty
      (30) days after names of potential arbitrators have been proposed by the
      American Arbitration Association (the “AAA”),
      then
      by one arbitrator having reasonable experience in oil and gas transactions
      of
      the type provided for in this Agreement and who is chosen by the AAA. The
      arbitration shall take place in Tallahassee, Florida, in accordance with the
      AAA
      rules then in effect, and judgment upon any award rendered in such arbitration
      will be binding and may be entered in any court having jurisdiction thereof.
      There shall be limited discovery prior to the arbitration hearing as follows:
      (a) exchange of witness lists and copies of documentary evidence and documents
      relating to or arising out of the issues to be arbitrated; (b) depositions
      of all party witnesses; and (c) such other depositions as may be allowed by
      the
      arbitrators upon a showing of good cause. Depositions shall be conducted in
      accordance with the Florida Code of Civil Procedure, the arbitrator shall be
      required to provide in writing to the parties the basis for the award or order
      of such arbitrator, and a court reporter shall record all hearings, with such
      record constituting the official transcript of such proceedings. The prevailing
      party shall be entitled to reasonable attorney’s fees, costs, and necessary
      disbursements in addition to any other relief to which such party may be
      entitled. Each of the parties to this Agreement consents to personal
      jurisdiction for any equitable action sought in the U.S. District Court for
      the
      Northern District of Florida or any court of the State of Florida having subject
      matter jurisdiction.

     

    15. The
      date
      of this contract is August 10, 2006.

     

    16. This
      Agreement may be signed in counterparts.

     

    [REMAINDER
      OF THIS PAGE INTENTIONALLY BLANK]

    
      
        
        

      

      
        Page
          4

        
          

        

      

       

    

     

     

    
      	Coastal
              Petroleum Company:	 	Participant
              1:
	 	 	 	 	 
	
              By:

               

              Address:

            	
               

              
                

              

               

              
                

              

            	 	By:
              
               

              Address:

            	
               

              
                

              

               

                

              

            
	 	 	 	 	 
	Oil
              For America:	 	Participant
              2:
	 	 	 
	By:
              
               

              Address:

            	
               

              
                

              

               

              
                

              

            	 	By:
              
               

              Address:

            	
               

              
                

              

               

              
                

              

            
	 	
               

            	 	 	
               

            
	Participant
              3:	 	Participant
              4:
	 	 	 
	By:
              
               

              Address:

            	
               

                

              

               

              
                

              

            	 	By:
              
               

              Address:

            	
               

                

              

               

              
                

              

            
	 	 	 	 	 
	Participant
              5:	 	Participant
              6:
	 	 	 
	By:
              
               

              Address:

            	
               

              
                

              

               

              
                

              

            	 	By:
              
               

              Address:

            	
               

              
                

              

               

              
                

              

            

    

     

    
      
        
        

      

      
        Page
          5Unassociated Document

    EXHIBIT
      4.1

    2004
      STOCK BENEFIT PLAN

    AMENDED
      JULY 26, 2006

    

    ASTRIS
      ENERGI, INC.. (an Ontario corporation), hereby adopts The Amended 2004 Stock
      Benefit Plan of Astris Energi Inc. (the "Plan"
      )
      this
      26th day of July 2006. Under the Plan, the Company may issue stock, or grant
      options to acquire the Company 's common stock, without nominal or par value
      (the "Stock"
      ),
      from
      time to time to employees of the Company or its subsidiaries, all on the terms
      and conditions set forth herein ("Benefits").
      In
      addition, at the discretion of the Board of Directors, Benefits may from time
      to
      time be granted under this Plan to other individuals, including consultants
      or
      advisors, who contribute to the success of the Company or its subsidiaries
      but
      are not employees of the Company or its subsidiaries , provided that bona fide
      services shall be rendered by consultants and advisors and such services must
      not be in connection with the offer or sale of securities in a capital-raising
      transaction. Furthermore, no stock may be issued, or option granted, under
      the
      benefit plan to consultants, advisors, or other persons who directly or
      indirectly promote or maintain a market for the Company 's
      securities.

    

    1.
      Purpose of the Plan. The Plan is intended to aid the Company in maintaining
      and
      developing a management team, attracting qualified officers, employees,
      consultants and key advisors capable of contributing to the future success
      of
      the Company , and rewarding those individuals who have contributed to the
      success of the Company .The Company has designed this Plan to aid it in
      retaining the services of executives and employees and in attracting new
      personnel when needed for future operations and growth and to provide such
      personnel with an incentive to remain employees of the Company,to use their
      best
      efforts to promote the success of the Company 's business, and to provide them
      with an opportunity to obtain or increase a proprietary interest in the Company
      . It is also designed to permit the Company to reward those individuals who
      are
      not employees of the Company but who management perceives to have contributed
      to
      the success of the Company or who are important to the continued business and
      operations of the Company. The above goals will be achieved through the granting
      of Benefits.

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    2.
      Administration. The Plan shall be administered by the Board of Directors of
      the
      Company (the 'Board') which shall keep the minutes of its proceedings with
      regard to the Plan and all records, documents, and data pertaining to its
      administration of the Plan. A majority of the members of the Board shall
      constitute a quorum for the transaction of business, and the vote of a majority
      of those members present at any meeting shall decide any question brought before
      that meeting. In addition, the Board may take any action otherwise proper under
      the Plan by the affirmative vote, taken without a meeting, of a majority of
      its
      members. Any decision or determination reduced to writing and signed by a
      majority of the members shall be as effective as if it had been made by a
      majority vote at a meeting properly called and held. All questions of
      interpretation and application of the Plan shall be subject to the determination
      of the Board. The actions of the Board in exercising all of the rights, powers
      and authorities set out in this Plan, when performed in good faith and in its
      sole judgment, shall be final, conclusive, and binding on the
      parties.

     

    3.
      Shares
      of Stock Subject to this Plan. A total of Ten Million (10,000,000) Shares of
      Common Stock may be subject to, or issued pursuant to, Benefits granted under
      this Plan. If any right to acquire Stock granted under this Plan is exercised
      by
      the delivery of shares of Stock or the relinquishment of rights to shares of
      Stock, only the net shares of Stock issued (the shares of stock issued less
      the
      shares of Stock surrendered) shall count against the total number of shares
      reserved for issuance under the terms of this Plan. Prior to the date of this
      Amendment Five Million Shares (5,000,000) have been issued, the maximum under
      the plan prior to Amendment. Therefore, Five Million Shares (5,000,000) may
      be
      issued pursuant to the Plan as amended on July 26, 2006.

    

    4.
      Eligibility. The Plan Administrators may grant Benefits to employees, officers,
      and directors of the Company and its subsidiaries , as may be existing from
      time
      to time, and to other individuals who are not employees of the Company or its
      subsidiaries , including consultants and advisors, provided that such
      consultants and advisors render bona fide services to the Company or its
      subsidiaries and such services are not rendered in connection with the offer
      or
      sale of securities in a capital-raising transaction, or for establishing,
      maintaining or promoting a public market for the Company 's securities. In
      any
      case, the Plan Administrators shall determine, based on the foregoing
      limitations and the Company 's best interests, which employees, officers,
      directors, consultants and advisors are eligible to participate in this Plan.
      Benefits shall be in the amounts, and shall have the rights and be subject
      to
      the restrictions, as may be determined by the Plan Administrators, all as may
      be
      within the provisions of this Plan.

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    5.
      Authority to Grant Stock Awards. The Board in its discretion and subject to
      the
      provisions of the Plan may, from time to time, grant to eligible individuals
      of
      the Company Stock Awards. The Board may award and issue shares of Common Stock
      under the Plan in fulfillment of such Stock Awards. Stock Awards may be made
      in
      lieu of cash compensation or as additional compensation. Stock Awards may also
      be made pursuant to performance-based goals established by the
      Board.

    

    6.
      Board
      Discretion. Subject
      only to any applicable limitations set forth in the Plan, the number of shares
      of Common Stock covered by any Stock Award shall be determined by the
      Board.

    

    7.
      Stock
      Awards.

    

    (a)
      Awards in Lieu of Compensation. The Board may grant Common Stock to an Eligible
      Individual under the Plan, without any payment by the individual, in lieu of
      certain cash compensation or as additional compensation. The Stock Award is
      subject to appropriate tax withholding. After compliance with the tax
      withholding requirements, a stock certificate shall be issued to the individual
      recipient of the Stock Award. The certificate shall bear such legend, if any,
      as
      the Board determines is reasonably required by applicable law. Prior to receipt
      of a Stock Award, the individual must comply with appropriate requests of the
      Board to assure compliance with all relevant laws.

    

    (b)
      Performance Based Awards. The Board may award shares of Common Stock, without
      any payment for such shares, to designated individuals if specified performance
      goals established by the Board are satisfied. The designation of an employee
      eligible for a specific performance-based Stock Award shall be made by the
      Board
      in writing prior to the beginning of the twelve month period for
      which the
      performance is measured. The Board shall establish the number of shares to
      be
      issued to a designated employee if the performance goal is met. The Board must
      certify in writing that a performance goal has been met prior to issuance of
      any
      certificate for a performance-based Stock Award to any employee. If the Board
      certifies the entitlement of an employee to the performance-based Stock Award,
      the certificate shall be issued to the employee as soon as administratively
      practicable, and subject to other applicable provisions of the Plan, including
      but not limited to, all legal requirements and tax withholding. Performance
      goals determined by the Board may be based on specified increases
      inrevenue, net profits, stock price, Company or segment sales, market
      share, earnings per share, return on equity and/or business development
      milestones.

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    8.
      Registration. The Company may, but shall not be obligated to, register any
      securities covered by a Stock Award, pursuant to the Securities Act of 1933
      (as
      now in effect or as hereafter amended) and, in the event any shares are
      registered, the Company may remove any legend on certificates representing
      these
      shares. The Company shall not be obligated to take any other affirmative action
      in order to cause the Stock Award to comply with any law or regulation of any
      governmental authority.

    

    9.
      Withholding. If the grant of a Benefit hereunder, or exercise of an Option
      given
      as a Benefit is subject to withholding or other trust fund payment requirements
      of the Internal Revenue Code of 1986, as amended (the "Code"
      ),
      or
      applicable state or local laws, the Company will initially pay the Grantee's
      liability and will be reimbursed by Grantee no later than six months after
      such
      liability arises and Grantee hereby agrees to such reimbursement
      terms.

    

    10.
      Dilution or Other Adjustment. The shares of Stock subject to this Plan are
      subject to proportionate adjustment in the event of a stock dividend on the
      Stock or a change in the number of issued and outstanding shares of Stock as
      a
      result of a stock split, consolidation, or other recapitalization.

    

    11.
      Employment Obligation. The granting of any Stock Award shall not impose upon
      the
      Company any obligation to employ or continue to employ any grantee; and the
      right of the Company to terminate the employment of any officer or other
      employee shall not be diminished or affected by reason of the fact that a Stock
      Award has been granted to him.

    

    12.
      Expiration and Termination of this Plan. This Plan may be abandoned or
      terminated at any time by the Plan Administrators. This Plan shall otherwise
      terminate on the earlier of the date that is five years from the date first
      appearing in this Plan or the date on which the Ten Millionth share is issued
      hereunder.

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    13. In
      addition to the restrictions imposed by Rule 144, Rule 701 or any other
      applicable rule or statute, including the Securities Act of 1933 as amended,
      the
      shares issued hereunder shall be held in escrow and released to the employ
      on
      the following schedule:

    

    Shares
      shall be released to beneficiaries of this plan in accordance with the
      directives of the Board of Directors at the time of the specific grant or award
      of stock.

    

    14.
       Amendment
      of this Plan. This Plan may not be amended more than once during any six month
      period, other than to comport with changes in the Code or the Employee
      Retirement Income Security Act or the rules and regulations promulgated
      thereunder. The Plan Administrators may modify and amend this Plan in any
      respect.

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