Document:

exhibit10-01.htm

Exhibit 10.01

MODIFICATION AND EXTENSION TO AMENDED PARTICIPATION AGREEMENT

AMENDED DECEMBER 31, 2014

(Turnkey Drilling, Re Entry, and Multiple Wells)

This Modification and Extension to Amended Participation Agreement dated December 31, 2014 amending the March 26, 2014 Modification and Extension to Amended Participation Agreement is in accordance with Exhibit “B” of an *Asset Purchase Agreement made and entered into as of January 21, 2014, the Effective Date (“Effective Date”), by and among Shale Corp., a corporation organized under the laws of the Province of Ontario in Canada with its principal place of business located at 365 Bay St, Suite 400, Toronto On, M5H 2V1(the “Company”), and the Investor acting as Mondial Ventures, Inc., along with approvals from Success Oil Co., Inc., its Operator and Partner, EGPI Firecreek, Inc. via its wholly owned subsidiary Energy Producers, Inc., Partner, and TWL Investments, aLLC, investing participants, herewith amend, modify and extend the following provision to the January 21, 2014 Amended Participation Agreement (please see *Asset Purchase Agreement included as Exhibit A in the Exhibit 10.1 to a Current Report on Form 8-K filed by Mondial Ventures, Inc. with the Securities and Exchange Commission on April 3, 2014):

Section II. paragraph one shall be modified and extended to read:

 

II.

Consideration

 

Participants shall deliver to Operator Participant’s share of the Turnkey Cost to Casing Point for drilling of the first Prospect Well, and the first Program initiated from successful financing will be for the Ellenburger Prospect Well formation at approximately 8,300 foot depth, as provided for in this Agreement and listed as follows in this section II. 1) below within a reasonable time after the execution and effective date of this Agreement not to exceed the period ending January 31, 2015, unless mutually extended by all parties to this Agreement in writing to be attached hereto. In addition, if the Turnkey Costs are delivered for the first Prospect Well listed in II. 1) below, the parties agree to extend timing for agreed participation up to two years but no less than one year. A draft for formal terms will be then delivered by participant 1 in coordination with Success for acceptance by the parties.

 

Agreed this 31st day of December, 2014 by the undersigned:

 

 

	
 Mondial Ventures, Inc.

	
Success Oil Co., Inc.

	
 TWL Investments, a LLC

	
 

/s/Dennis R Alexander

	
 

/s/Jeru M. Morgan

	
 

/s/Larry W. Trapp

	
 President and CEO

	
 President and CEO

	
 Managing Director

	  	  	  
	
Energy Producers, Inc., a wholly owned Subsidiary of EGPI Firecreek, Inc.

	  	  
	  	  	  
	
/s/Dennis R Alexander

	  	  
	
 Dennis R. Alexander

	  	  
	
 President and CEOexhibit10-02.htm

Exhibit 10.02

NINTH AMENDMENT TO

MODIFICATION, AMENDMENT, AND FURTHER EXTENSION

OF THE “AGREEMENT TO EXTEND OPTION” DATED EFFECTIVE ON DECEMBER 31, 2013

WHEREAS THIS AGREEMENT MODIFIES, AMENDS, AND EXTENDS THE PREVIOUS DECEMBER 31, 2013 AGREEMENT TO EXTEND OPTION BETWEEN THE FOLLOWING PARTIES:

EGPI Firecreek, Inc. on behalf of itself and all of its wholly  owned subsidiaries including, but not limited to, Energy Producers, Inc. (“EPI”), and conjunction with Mondial Ventures, Inc., and now amended to be by and through the Amalgamation processes between Shale Corp. and Newco resulting in the surviving entity now known as 2301840 Ontario Inc. Incorporated under the Laws of the Province of Ontario, and which is now a wholly owned subsidiary of Boomerang Oil, Inc. (formerly 0922337 BC LTD) (“Boomerang”), a Majority owned subsidiary of Mondial Ventures, Inc. ("Mondial"), having entered into an Agreement to Extend Option (the "Agreement") with Success Oil Company Inc. ("Success"), (individually and collectively referred to as the "Parties'', most recently on December 31, 2013, regarding a certain option agreement (the "Option Agreement") for participation rights in certain oil and gas property interests dated November 30, 2011 and most recently amended herewith as of December 31, 2014.

In the best interests of the parties the following provisions of the Agreement shall be revised, amended and or modified to read as follows:

Section 2, shall be restated to read: the Parties wish to extend the Option Agreement, through January 31, 2015 unless further modified or extended by the parties to this Agreement in writing and attached or made a part of hereto.

Section 5. shall be restated to read as follows:

January 31, 2015, unless further modified or extended by the parties to this Agreement in writing and attached or made a part of hereto.

Section 9.b. shall read as follows:

The note, which is acknowledged to be in default, and further as described in paragraphs 6 and 8, shall remain due and payable until April 1, 2014 during which time EGPI or Mondial may, within 5 days thereof, either i) pay the full amount due, or ii) convert the entire balance of the note to shares in EGPI Firecreek, Inc. (“EGPI”) or Mondial (“MNVN”) on terms then negotiated, but on terms no less favorable than those given to any other lender or creditor of EGPI or Mondial, and in accordance with rules and regulations governing such transactions. If neither of i) or ii) are acceptable to Success then the obligation created under the EGPI Note shall convert/revert to the Joint Operating Billing Statement (JIBS), and be attributable to the interest holders on a pro rata basis according to their interests, derived from the net of current existing proved producing revenues with reserves at the date of even with this agreement, according to interests then held by EPI, a wholly owned subsidiary of EGPI Firecreek, Inc. and, Boomerang Oil Inc., a majority owned subsidiary of Mondial, and under the same terms as agreed upon in the Note, and upon such occurring the then EGPI Note shall forever be fully discharged, voided and canceled by Success.

IN WITNESS WHEROF, the Parties have caused this Agreement to be executed on the date set forth below.

(These revisions, amendments, and or modifications shall be effective as of December 31, 2015.)

 

	
SUCCESS OIL CO., INC.

	
EGPI FIRECREEK, INC.,

	
MONDIAL VENTURES, INC.

	  	
and on behalf of EPI

	
By and through Shale Corp. (now 2301840 Ontario Inc.)  a wholly owned subsidiary of Boomerang Oil, Inc., a Majority owned subsidiary of Mondial Ventures, Inc.

	  	  	  
	  	  	  
	
/s/Jeru Morgan

	
/s/Dennis Alexander

	
/s/Dennis Alexander

	 	  	  
	
By: Jeru Morgan,

	
By: Dennis Alexander

	
By: Dennis Alexanderkblb_ex1010.htm

Exhibit 10.10

 

CALM SEAS CAPITAL, LLC

4650 Wedekind Rd. Suite 2 Sparks, NV 89431

October 2nd, 2014

Kim Thompson, CEO

Kraig Biocraft Laboratories, Inc.

120 N. Washington Square, Suite 805

Lansing, MI 48933

In Re: Proposed Equity Line Transaction - Term Sheet

Dear Mr. Thompson:

This Letter is to serve as a binding Memorandum of Understanding for an Equity Line transaction by Calm Seas Capital, LLC (“Investor”) and Kraig Biocraft Laboratories, Inc. (the “Company”) in accordance with the terms and conditions on the attached Term Sheet, which is hereby incorporated herein by reference. If this transaction is acceptable to the Company, please so indicate by signing and dating where indicated below and returning this Letter MOU to us.  In addition, please initial each of the pages of the attached Term Sheet and return it to us with the accepted Letter MOU.

Yours truly,

 

 

	
CALM SEAS CAPITAL, LLC

	  
	  	  	  	  
	
By: /s/ Michael McCarthy

	  	  	  

 

AGREEMENT and ACCEPTANCE

The foregoing Letter MOU together with the attached and incorporated Term Sheet is approved as of this 2nd day of October, 2014:

 

 

	
KRAIG BIOCRAFT LABORATORIES, INC.

	  
	  	  	  	  
	
By: /s/ Kim Thompson

	  	  	  
	
Kim Thompson, CEO

	  	  	  

 

  

1

  

 

KRAIG BIOCRAFT LABORATORIES, INC.

TERM SHEET

(October 2, 2014)

 

	
Issuer:

	
Kraig Biocraft Laboratories, Inc. ( KBLB).

	
Offering:

	
Up to $7,500,000 in shares of Common Stock.

	
Investor(s):

	
Calm Seas Capital, LLC, as lead investor, and associated entities.

	  	  

	
Execution Date

	 	
The Execution Date is the date on which the final documents for the Equity Line of Credit are signed by both the Company and the Investor(s).

	
Structure

	 	
Equity Line of Credit, with bi-monthly puts against the Commitment Amount (as defined below), during the “Term”.

	
Term

	 	
The Term shall be that period commencing with the Effective Date and ending on the earlier of (a) the drawing down of the entire Commitment Amount or (b) that date 24 months after the Effective Date (as defined below) (the “Term”).

	
Commitment Amount

	 	
The Investor shall commit to purchase up to $7,500,000 of the Company’s Common Stock over the course of no more than 24 months (the “Commitment Period”) after the date a registration statement for the resale of the Common Stock has been declared effective (the “Effective Date”) by the U.S. Securities and Exchange Commission (“SEC”).

	
First Put 

	 	
The Company may issue its first “Put Notice” during the first 5 business days of the month succeeding the month in which the Effective Date occurs.

	
Put Date   

	 	
The date of delivery of the Put Notice shall be the “Put Date”

	
Put Ceiling

	 	
The maximum amount which the Company shall be entitled to request by each Put shall be the lesser of (a) $100,000 or (b) 200% of the average daily volume (“ADV”) multiplied by the average of the daily closing prices for the ten (10) trading days immediately preceding the Put Date.  The ADV shall be computed using the 10 trading days prior to the Put Date.

	
Put Floor

	 	
The Company shall automatically withdraw that portion of the Put Notice amount if the Market Price with respect to that put does not meet the Minimum Acceptable Price, which is defined as 75% of the average closing “bid” price for the Common Stock for the 10 trading days prior to the Put Date.

	
Put by

Mutual Agreement

	 	
Notwithstanding the ceiling for each Put, as described above, at any time either as a part of a monthly Put or as an additional Put(s) during a month, the Company may request permission to request funds in excess of the Put Ceiling for such month and may deliver to Investor(s) a Put or Puts in excess of the Put Ceiling, which Put or Puts Investor(s) may fund, in its/their sole discretion, subject to the terms and conditions herein applicable to the monthly Puts.

	
Pricing Period

	 	
The five (5) consecutive trading days immediately after the Put Date.

	
Market Price

	 	
The lowest price of the Common Stock during the Pricing Period.

	
Purchase Price

	 	
The purchase price shall be eighty percent (80%) of the Market Price.

 

  

2

  

 

	
Put Closing Date                 

	 	
Seven (7) business days after the Put Date; the Investor(s) shall make the investment required by the Put Notice, subject to the Put Ceiling.  Payments of the Puts shall be made by wire transfer.

	
Registration Statement             

	 	
The Investor(s) will work with the Company to have a registration statement covering the Common Stock (or a portion thereof if there is a Rule 415 cutback - see below) prepared and filed by the Company’s corporate counsel, at the Company’s expense, within 75 days after the Execution Date.  Such Registration Statement shall be prosecuted with all due speed to be declared effective within 120 days after the Effective Date.

	
Expenses                             

	 	
The Company agrees to pay all expenses related to the preparation of the final documents to be signed on the Execution Date and the Company shall pay all expenses related to the filing and prosecution of the Registration Statement.  The Company will select counsel of its choice to prepare the Registration Statement.

	
Commitment Fee                   

	 	
Waived.

	
Rule 415 Cutback                      

	 	
In the event that the SEC objects to the number of shares proposed to be registered, the Company shall use its best efforts to register the maximum number of shares permissible by the SEC to retain the status of the offering as a secondary offering under SEC Rule 415.

	
Equity Issuance

Restriction      

	 	
Waved.

	
Right of First Offer

	 	
If the Company has a bona fide proposal to sell, or offers to sell, any New Security (as hereinafter defined) to any third party, the Company shall first offer such New Securities to the Investor (the “Offer Notice”).  The Offer Notice shall be in writing and set forth all of the material terms of the offer of New Securities.  The Investor shall have 10 business days from the date on which the Company delivers written Offer Notice to elect, in its sole discretion, to purchase some or all of the New Securities.  The Company shall not offer or sell any New Securities until after such 10 business day period has expired.  For the purposes of this letter agreement, “New Security” shall mean any equity securities of the Company, whether or not such equity securities is currently authorized, as well as any rights, options, or warrants to purchase such equity securities, and any securities of any type whatsoever that is, or may become, convertible or exchangeable into or exercisable for such equity securities.

	
Covenants

	 	
1.  During the Term, the Company shall maintain the effectiveness of the Registration Statement.

2.  During the Term, the Company shall maintain its status as a FULLY REPORTING SEC Public Company trading on the OTCBB and or the OTCQB and or AMEX and or NASDAQ or similar exchanges.

3.  During the Term, the Company shall timely file all required SEC reports.

4.  The Company shall maintain a contractual relationship for the performance of financial public relations services for a period of 36 months from the effective date, with the extent of the costs of such services to be proportional to the size and growth of the Company.

	
Short Sales                  

	 	
During the Term, the Investor(s) agree(s) not to engage in any short selling of the Company’s Common Stock.

	
Exclusivity                                  

	 	
From the date of the execution of this Term Sheet until the Effective Date, the Company shall not pursue any other transaction of the nature contemplated herein with any other person unless and until good faith negotiations with the Investor have been terminated.

 

 

3

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00239-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00239-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00239-of-00352.parquet"}]]