Document:

DK-EX10.4 10Q PRSU Agreement-6.30.14

Exhibit 10.4

DELEK US HOLDINGS, INC.
2006 LONG-TERM INCENTIVE PLAN
PERFORMANCE-BASED RESTRICTED STOCK UNIT AGREEMENT

This Agreement is made as of _____ (the “Grant Date”) by and between Delek US Holdings, Inc., a Delaware corporation (the “Company”), and __________ (the “Participant”).

Whereas, pursuant to the Delek US Holdings, Inc. 2006 Long-Term Incentive Plan, as amended (the “Plan”), the Company desires to grant to the Participant, and the Participant desires to accept, an Award of Performance-Based Restricted Stock Units with respect to shares of the Company’s common stock, $0.01 par value (the “Common Stock”), upon the terms and conditions set forth in this Agreement and the Plan.  Capitalized terms used but not defined herein shall have the meanings ascribed to such terms in the Plan.

Now, therefore, the parties hereto agree as follows:

1.Award.  The Company hereby grants to the Participant pursuant to the Plan an Award of Performance-Based Restricted Stock Units (the “PRSUs”) as set forth in Exhibit A hereto.

2.    PRSUs.  The PRSUs constitute an unfunded and unsecured promise of the Company to deliver to the Participant, subject to the satisfaction of the vesting conditions set forth in Section 3 below and Exhibit A hereto and subject to the other terms and conditions of this Agreement and the Plan, that number of shares of Common Stock referenced by the PRSUs.  Until such delivery, the Participant shall have the rights of a general unsecured creditor of the Company with respect to the PRSUs and shall not have any rights as a stockholder of the Company.

3.    Vesting / Forfeiture.  Except as otherwise provided herein, the Plan or any other agreement(s) between the Company and the Participant, the PRSUs shall vest pursuant to the terms and conditions set forth in Exhibit A hereto and all vesting is subject to the Participant’s continuous employment or other service with the Company or its affiliates through each applicable vesting date.

		
	(a)
	Change in Control.  For purposes of this Agreement, a “Change in Control” of the Company shall have occurred only if, and only to the extent that, such event has occurred under the terms of the Participant’s employment agreement with the Company and/or its subsidiaries in effect upon the occurrence of such event.  Upon the occurrence of a Change in Control,

(i)    In the event the entity surviving the Change in Control (the “Successor”) assumes the award granted hereby, (A) any in process Performance Periods shall end upon the date immediately preceding the Change in Control, (B) the number of PRSUs that shall be eligible to vest shall be the Target PRSUs if less than one-half of the Performance Period has elapsed prior to the effective date of the Change in Control, or the actual number of PRSUs that would have vested if the date of the Change in Control were the end of the Performance Period and the actual performance as of that date had been the actual performance for the entire Performance Period, if one-half or more of the Performance Period has elapsed prior to the effective date of the Change in Control and (C) notwithstanding subparagraph (b) herein, in the event the Participant’s employment with the Successor is terminated without Cause by the Successor, or for Good Reason by the Participant, prior to the expiration of the Restricted Period, the number of PRSUs otherwise eligible to vest pursuant to this paragraph shall immediately vest and be released to the Participant upon the Participant’s termination of employment.

(ii)    In the event the Successor does not assume the award granted hereby, the PRSUs shall vest with respect to a number of PRSUs equal to (A) the Target PRSUs if less than one-half of the Performance Period has elapsed prior to the effective date of the Change in Control, or (B) the actual number of PRSUs that would have vested if the date of the Change in Control were the end of the Performance Period and the actual performance as of that date had been the actual performance for 

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the entire Performance Period, if one-half or more of the Performance Period has elapsed prior to the effective date of the Change in Control, and the appropriate number of PRSUs shall be vested and released in accordance herewith.  For purposes of evaluating performance for any shortened Performance Period, appropriate adjustments to the performance targets, performance periods and the determination of actual performance shall be made by the Committee to enable it to make appropriate comparisons with peer groups and otherwise to carry out the intent of this paragraph.

(b)    Termination of Employment.  In the event that the Participant’s employment with the Company and/or its subsidiaries is terminated prior to the end of the Performance Period and prior to the occurrence of a Change in Control, the Participant shall forfeit the PRSUs and all of the Participant’s rights hereunder shall cease; provided, that the Committee shall have the discretion to provide for the vesting of all or a portion of the PRSUs upon or following the Participant’s termination of employment in circumstances such as Participant’s involuntary termination other than for cause, death, disability or retirement pursuant to any applicable Company policy as the Committee shall determine in its sole discretion.  The Participant’s rights to the PRSUs shall not be affected by any change in the nature of the Participant’s employment so long as the Participant continues to be an employee or other applicable service provider, within the discretion of the Committee, of the Company or any of its Subsidiaries.

4.    Issuance / Delivery of Shares.  Except as otherwise provided herein, a stock certificate registered in the name of the Participant representing the shares of Common Stock comprising the vested portion of the PRSUs shall be issued and delivered to the Participant promptly following the vesting date.  Subject to Section 5 below, the Participant shall have no right to receive any dividend or distribution with respect to such shares if the record date for such dividend or distribution is prior to the vesting date of the PRSUs.

5.    Dividend Equivalents.  The Participant shall be credited with dividend equivalents for any cash dividends paid on the number of shares of Common Stock covered by the PRSUs as a cash deferral (bearing interest at the then prevailing prime interest rate as set forth in The Wall Street Journal), which deferral shall be settled in cash upon vesting of the related PRSUs, subject to the same terms and conditions as such PRSUs.  For the avoidance of doubt, no dividend equivalents shall be paid with respect to PRSUs that do not vest.

6.    Withholding / Consents.  The delivery of shares of Common Stock represented by PRSUs is conditioned on the Participant’s satisfaction of any applicable withholding taxes in accordance with the Plan and any other agreement(s) between the Company and the Participant.  The Participant’s rights in respect of the PRSUs are conditioned on the receipt to the full satisfaction of the Company of any required consents that the Company may determine to be necessary or advisable, including, without limitation, consents to deductions from wages or other arrangements satisfactory to the Company.

7.    Nontransferability.  The RSUs may not be loaned, pledged, hypothecated or otherwise encumbered or subject to any lien, obligation or liability of the Participant to any party (other than the Company or an affiliate thereof), or sold, assigned or transferred (collectively, “Transferred”) by the Participant other than by will or the laws of descent and distribution or to a beneficiary upon the death of the Participant.  Any attempt by the Participant or any other person claiming against, through or under the Participant to cause the PRSUs or any part of it to be Transferred in any manner and for any purpose shall be null and void and without effect upon the Company, the Participant or any other person.

8.    Compliance with Law / Transfer Orders / Legends.  The Company will not be obligated to issue or deliver shares of Common Stock pursuant to this Agreement unless the issuance and delivery of such shares complies with applicable law, including, without limitation, the Securities Act of 1933, as amended, the Securities Exchange Act of 1934, as amended, and the requirements of any stock exchange or market upon which the Common Stock may then be listed, and shall be further subject to the approval of counsel for the Company with respect to such compliance.  All certificates for shares of Common Stock delivered under this Agreement shall be subject to such stock-transfer orders and other restrictions as the Company may deem advisable under the rules, regulations, and other requirements of the Securities and Exchange Commission, any stock exchange or market upon which the Common Stock may then be listed, and any applicable federal or state securities law.  The Company may cause a legend or legends to be placed on any such certificates to make appropriate reference to such restrictions.

Delek US Holdings, Inc. • 2006 Long-Term Incentive Plan • Performance-Based Restricted Stock Unit Agreement • Page 2 of 5

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9.    No Employment or Other Rights.  Nothing contained in the Plan or this Agreement shall confer upon the Participant any right with respect to the continuation of his or her employment or other service with the Company or its affiliates or interfere in any way with the right of the Company and its affiliates at any time to terminate such employment or other service or to increase or decrease, or otherwise adjust, the other terms and conditions of the Participant’s employment or other service.

10.    Provisions of the Plan.  The provisions of the Plan, the terms of which are incorporated in this Agreement, shall govern if and to the extent that there are inconsistencies between those provisions and the provisions hereof.  The Participant acknowledges receipt of a copy of the Plan prior to the execution of this Agreement.

11.    Administration.  The Committee shall have the power to interpret the Plan and this Agreement and to adopt such rules for the administration, interpretation and application of the Plan as are consistent therewith and to interpret or revoke any such rules.  No member of the Board or the Committee shall be personally liable for any action determination or interpretation made in good faith with respect to the Plan or the PRSUs granted hereunder.  In its absolute discretion, the Board may at any time and from time to time exercise any and all rights and duties of the Committee under the Plan and this Agreement.  All decisions and determinations made by the Board pursuant to the provisions hereof and, except to the extent rights or powers under the Plan are reserved specifically to the discretion of the Board, all decisions and determinations of the Committee, shall be final, binding and conclusive on all persons.

12.    Resolution of Disputes.  Any dispute or disagreement which may arise under, or as a result of, or in any way related to, the interpretation, construction or application of this Agreement shall be determined by the Committee.  Any determination made hereunder shall be final, binding and conclusive on the Participant and Company for all purposes.

13.    Miscellaneous.  This Agreement shall be binding upon and shall inure to the benefit of the parties hereto and their respective successors and permitted assigns.  This Agreement shall be governed by and construed in accordance with the laws of the State of Delaware, without regard to its principles of conflicts of law.  This Agreement constitutes the entire agreement between the parties with respect to the subject matter hereof and, except as otherwise provided in the Plan, may not be modified other than by written instrument executed by the parties.

IN WITNESS WHEREOF, this Agreement has been executed as of the date first above written.

DELEK US HOLDINGS, INC.                PARTICIPANT:

                                                    
By:    Donald N. Holmes                
Title:    EVP / Human Resources

                        
By:    Kent B. Thomas
Title:    EVP / General Counsel

Delek US Holdings, Inc. • 2006 Long-Term Incentive Plan • Performance-Based Restricted Stock Unit Agreement • Page 3 of 5

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EXHIBIT A:

Delek US Holdings, Inc.
Performance-Based Restricted Stock Unit Award Targets

1.Target PRSUs.  The target number of PRSUs that will vest for the Participant in connection with this award is _____.

2.Maximum Shares.  The maximum number of PRSUs that will vest for the Participant in connection with this award is _____.

3.Performance Period.  The “Performance Period” for this award shall begin on _____ and end on _____.

4.Performance Goal.  The “Performance Goal” for this award is the total shareholder return of the Company for the Performance Period ranked against the total shareholder return of companies that are included in the Company Peer Group (as defined below) for the Performance Period as further described below.

5.Definitions.  For purposes of this Exhibit A, the following terms have the following meanings:

(a)    “Comparator Group” means the following companies:  _____.  Companies who become no longer publicly traded at any time during the Performance Period (including by reason of being acquired by another public company) shall be eliminated from the Comparator Group ab initio for the entirety of the Performance Period.  Companies that become bankrupt during the Performance Period will be assigned the lowest rank in the percentiles.

(b)    “TSR Rank” means the aggregate total shareholder return on Common Stock over the Performance Period, ranked against the total shareholder return over the same period for each of the companies that comprise the Comparator Group.  Total shareholder return will be calculated using a beginning price equal to the trading volume weighted average price over the period beginning 20 trading days prior to the start of the Performance Period and ending the trading day before the start of the Performance Period, and an ending price equal to the trading volume weighted average price over the period beginning 20 trading days prior to the end of the Performance Period and ending with the end of the Performance Period, and accounting for immediate reinvestment (as of the ex-dividend date) of all cash dividends and other cash distributions (excluding cash distributions resulting from share repurchases or redemptions by the Company) over this period.  Following the Performance Period, the total shareholder return shall be computed for the Company and each company in the Comparator Group and each of such companies shall be ranked in accordance with this metric.  The Schedule in paragraph 6 below refers to percentiles of this TSR Rank.

6.Percentage of PRSUs Vested.  Following the end of the Performance Period, the Committee will determine the extent to which the PRSUs have become vested pursuant to this award according to the following schedule:

The percentage of the Target PRSUs that will vest with TSR performance is as follows:

	
		
	TSR Rank
	Percentage of Target PRSUs Vested

	75th Percentile or above
	_____%

	50th Percentile
	_____%

	25th Percentile
	_____%

	Below 25th Percentile
	0%

Delek US Holdings, Inc. • 2006 Long-Term Incentive Plan • Performance-Based Restricted Stock Unit Agreement • Page 4 of 5

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Thus, up to _____% of the Target PRSUs may be earned if maximum performance is achieved for the Performance Goals.  Vesting related to performance between the percentiles listed above will be determined by straight line interpolation.  Any PRSUs that do not vest as provided above on the applicable determination date shall be forfeited.  The Committee shall have the discretion to substitute a cash payment for any portion of the shares of Common Stock otherwise issuable pursuant to this award as determined by the Committee.  Such cash payment shall be equal to the product of (a) the number of shares of Common Stock otherwise issuable pursuant to this award that the Committee has determined to be substituted for, and (b) the Fair Market Value of the Company’s Common Stock on the date the cash payment is made, net of any applicable withholding amounts.

7.Adjustments Upon Change in Capitalization.  In the event of any reorganization, merger, consolidation, recapitalization, reclassification, stock split, spin-offs, stock dividend or similar capital adjustment, as a result of which shares of any class shall be issued in respect of outstanding shares of Common Stock or shares of Common Stock shall be changed into a different number of shares or into another class or classes or into other property or cash, the number of Target PRSUs shall be adjusted proportionately or as otherwise appropriate to reflect such event so as to preserve (without enlarging) the value of the award hereunder, with the manner of such adjustment to be determined by the Committee in its sole discretion.  This paragraph shall also apply with respect to any extraordinary dividend or other extraordinary distribution in respect of Common Stock (whether in the form of cash or other property).

Delek US Holdings, Inc. • 2006 Long-Term Incentive Plan • Performance-Based Restricted Stock Unit Agreement • Page 5 of 5hfco_ex101.htm

Exhibit 10.1

 

SHARE EXCHANGE AGREEMENT

 

THIS SHARE EXCHANGE AGREEMENT (this “Agreement”), dated as of April 21, 2014, is made by and between Hydrogen Future Corporation, a Nevada corporation (“HFCO”) and American Security Resources Corporation, a Nevada corporation (“ASRC”).

 

I. PREAMBLE

 

	
1.  

	
ASRC owns all of the issued and outstanding shares of common stock of Hydra Fuel Cell Corporation, a Nevada Corporation (“Hydra”).

 

	
2.  

	
Subject to fulfillment of the terms and conditions set forth below, ASRC desires to transfer to HFCO all of the issued and outstanding shares of common stock of Hydra (the “Hydra Shares”) for one share of HFCO’s Series B Convertible Preferred Stock, $0.001 par value per share (“HFCO Share”).

 

NOW, THEREFORE, the parties hereto agree, based on the above premises, which form an integral part hereof, on the following:

 

II. SHARE EXCHANGE

 

	
3.  

	
Subject to and upon the terms and conditions of this Agreement, ASRC agrees to sell, transfer and exchange (“Share Exchange”) at the Closing (as defined below) all of the Hydra Shares owned by it for the HFCO Share.  ASRC agrees to deliver to HFCO good title to the Hydra Shares, free and clear of all claims, liens, charges and encumbrances of any kind whatsoever, together with an effective instrument of assignment.  In return, HFCO agrees to deliver to ASRC good title to the HFCO Share, free and clear of all claims, liens, charges and encumbrances of any kind whatsoever, together with a certificate representing the HFCO Share.

 

III. TIME OF CLOSING AND CONDITION PRECEDENT

 

	
4.  

	
The closing of the Share Exchange (the “Closing”) shall be effective as of April 21, 2014 (the “Closing Date”).

 

IV. REPRESENTATIONS OF ASRC

 

	
5.  

	
ASRC hereby represents and warrants to HFCO, that:

 

	
5.1.  

	
Hydra has been duly formed and is validly existing and in good standing under the Laws of Nevada.  No order has been made, petition presented or resolution passed for the bankruptcy or dissolution of Hydra nor has any similar action been taken or is threatened.

 

	
5.2.  

	
ASRC has full power and authority to enter into, execute, deliver and perform this Agreement and all other agreements and instruments to be executed by it in connection herewith.  All of such actions have been duly authorized and approved by all persons or entities authorized to take such required action.  This Agreement constitutes ASRC ’s legal, valid and binding obligation enforceable against it in accordance with its terms except as such enforcement may be limited by bankruptcy, insolvency, reorganization or other laws and subject to general principles of equity.

 

	
5.3.  

	
Hydra has 100,000,000 authorized shares of common stock, $0.001 par value per share, and 1,000,000 authorized shares of preferred stock, $0.001 par value per share.  The Hydra Shares constitute all of the issued and outstanding shares of capital stock of Hydra.  There are no shares of preferred stock of Hydra issued and outstanding.  No person has any right, contingent or otherwise, to subscribe for or otherwise to acquire any shares or other securities of Hydra.

 

	
5.4.  

	
ASRC owns the Hydra Shares free of any lien or encumbrance, and such shares are freely transferable and are subject to no claim of right, except pursuant to this Agreement.

 

  

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5.5.  

	
The consummation of the Share Exchange and all of the other transactions contemplated by this Agreement will not result:

 

	
(a)  

	
in a breach of any of the terms and provisions of or constitute a default under any indenture, mortgage, deed or trust, or other agreement or instrument to which it is a party; or

 

	
(b)  

	
in a violation of or default under any state or United States federal statute or any of the rules or regulations applicable to it of any court or of any United States federal and state regulatory body or administrative agency.

 

	
5.6.  

	
ASRC has fully evaluated its risks of holding the HFCO Share, has reviewed all information and documents which it deemed necessary or desirable with respect to HFCO and its business, understanding that there are substantial risks of loss incidental to holding the HFCO Share and has determined that the HFCO Share is suitable for it to receive and own hereunder.

 

	
5.7.  

	
ASRC acknowledges that it has given full access to HFCO to and provided HFCO with all information concerning the business and financial condition, properties, operations and prospects of Hydra relevant and material for purposes of HFCO making the Share Exchange contemplated by this Agreement and has not failed to disclose any material information necessary for HFCO to evaluate the Share Exchange.

 

V. REPRESENTATIONS OF HFCO

 

	
6.  

	
HFCO hereby represents and warrants to ASRC, that on Closing:

 

	
6.1.  

	
HFCO has been duly formed and is validly existing and in good standing under the Laws of Nevada. No order has been made, petition presented or resolution passed for the bankruptcy or dissolution of HFCO nor has any similar action been taken or is threatened.

 

	
6.2.  

	
HFCO does not own or control, directly or indirectly, any interest or other form of participation in any other corporation, limited liability company, partnership, joint venture or business entity.

 

	
6.3.  

	
HFCO has ten billion (10,000,000,000) authorized shares of common stock, $0.001 par value per share.

 

	
6.4.  

	
HFCO has full power and authority to enter into, execute, deliver and perform this Agreement and all other agreements and instruments to be executed by it in connection herewith.  All of such actions have been duly authorized and approved by all persons or entities authorized to take such required action.  This Agreement constitutes its legal, valid and binding obligation enforceable against it in accordance with its terms except as such enforcement may be limited by bankruptcy, insolvency, reorganization or other laws and subject to general principles of equity.

 

	
6.5.  

	
HFCO has caused the issuance of the HFCO Share from HFCO’s authorized but unissued Series B Convertible Preferred Stock, free of any lien or encumbrance, and such share is freely transferable, other than as generally provided under federal securities laws, and is subject to no claim of right.

 

	
6.6.  

	
The consummation of the Share Exchange and all of the other transactions contemplated by this Agreement will not result:

 

	
(a)  

	
in a breach of any of the terms and provisions of or constitute a default under any indenture, mortgage, deed or trust, or other agreement or instrument to which HFCO is a party; or

 

	
(b)  

	
in a violation of or default under any state or United States federal statute or any of the rules or regulations applicable to it of any court or of any United States federal and state regulatory body or administrative agency.

 

	
6.7.  

	
HFCO has fully evaluated its risks of holding Hydra Shares, has reviewed all information and documents which he or it deemed necessary or desirable with respect to the Hydra and its business, understanding that there are substantial risks of loss incidental to holding Hydra Shares and has determined that the Hydra Shares are suitable for it to receive and own hereunder.

 

	
6.8.  

	
HFCO acknowledges that it has given full access to ASRC to and provided ASRC with all information concerning the business and financial condition, properties, operations and prospects of Hydra relevant and material for purposes of ASRC making the Share Exchange contemplated by this Agreement and has not failed to disclose any material information necessary for ASRC to evaluate the Share Exchange.

 

  

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VI. TRANSFERABILITY OF HFCO SHARE

 

	
7.  

	
The HFCO Share to be issued to the ASRC as a result of the Share Exchange in accordance with this Agreement will not be registered under the United States Securities Act of 1933, as amended, or the securities laws of any other jurisdiction, nor is it currently contemplated that the HFCO Share will be registered at any time in the future.  There is not currently, nor is it expected that there will develop, a public market for HFCO Share.  By the execution of this Agreement and by acceptance of certificates for the HFCO Share pursuant to the terms of this Agreement, ASRC represents and warrants it is acquiring the HFCO Share for investment only and not with a view to the further distribution or resale of any such shares.

 

VII. LEGEND

 

	
8.  

	
The certificate representing the HFCO Share will bear a legend in substantially the following form (in addition to any legend required by the blue sky or securities laws of any state or jurisdiction to the extent such laws are applicable to the shares represented by the certificate so legended):

 

“THE SHARES EVIDENCED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR ANY APPLICABLE STATE LAW, AND SUCH SHARES MAY NOT BE SOLD OR OFFERED FOR SALE IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT AS TO SECURITIES UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR AN OPINION FROM COUNSEL SATISFACTORY TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED.”

 

VIII. MISCELLANEOUS

 

	
9.  

	
Entire Agreement.  This Agreement supersedes any previous agreement between the parties hereto in relation to the matters dealt with herein and constitutes the entire understanding between the Shareholders in relation thereto.

 

	
10.  

	
Notice.  Any notice, request, consent or instruction deemed by any Shareholder to be necessary or desirable to be given to the other Shareholders shall be validly given, made or served, if in writing and sent by e-mail or courier (in the latter case, a copy also to be sent by mail) to the following addresses:

 

If to HFCO, to:

 

Frank Neukomm, Chief Executive Officer

2525 Robinhood Street, Suite 1100

Houston, Texas 77005

Email:  fneukomm@swbell.net

 

If to ASRC, to:

 

Robert Farr, President and Chief Operating Officer

2525 Robinhood Street, Suite 1100

Houston, Texas 77005

Email:  bobfarr2@swbell.net

 

Each party may at any time change its address by giving notice to the other party in the manner described above.

 

	
11.  

	
Severability.  If any provision of this Agreement or the application thereof to any person or circumstance shall, to any extent, be invalid or unenforceable, the remainder of this Agreement and the application of such provision to persons or circumstances other than those as which it is held invalid or unenforceable shall not be affected thereby, and each other provision of this Agreement shall be valid and shall be enforced to the fullest extent permitted by law.  Any gap resulting from such invalidity shall be filled by a provision consistent with the spirit and purpose of this Agreement.

 

	
12.  

	
Amendments.  Any modification, amendment, supplementation, termination or waiver of this Agreement shall require written form.  The written form may be dispensed only in writing.

 

Such modification, amendment, supplementation, termination or waiver shall be effective if duly signed by each party hereto at the date such modification, amendment, termination or waiver is agreed, provided that any modification, amendment, termination or waiver of any of the provisions of the Agreement made in accordance with this Section shall not impose any greater liability or more onerous an obligation on those persons who do not sign such modification, amendment, termination or waiver.

 

  

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13.  

	
Assignment.  This Agreement is binding upon and shall inure to the benefit of each party hereto and for the benefit of any person to whom any rights are assigned pursuant to this Section.  No party may assign its rights or obligations under this Agreement without the prior written consent of the other party hereto.

 

	
14.  

	
Waiver.  The waiver of a party of a breach of any provisions of this Agreement shall not operate or be construed as a waiver of any subsequent breach.

 

	
15.  

	
Further Assurances.  Each party agrees to take such further action and execute, deliver and/or file such documents or instruments as are necessary to carry out the purposes of this Agreement.

 

	
16.  

	
Governing Law and Jurisdiction.  This Agreement shall be governed by and construed according to the laws of the State of Texas, United States of America without regard to its conflicts of law rules.

 

	
17.  

	
In the event of any dispute, controversy or claim arising out of or in connection with this Agreement, the parties consent to the exclusive jurisdiction (including personal jurisdiction) of, and venue in, the United States federal courts of the District of Texas (or the state courts of the State of Texas in the event that such federal courts will not accept jurisdiction).

 

	
18.  

	
Counterparts.  This Agreement may be executed in counterparts, each of which will be deemed an original, but all of which together will constitute one and the same instrument.

 

	
19.  

	
Specific Performance.  In addition to any and all other remedies that may be available at law or in equity in the event of any breach of this Agreement, each party shall be entitled to specific performance of the agreements and obligations of the other party hereunder and to such other injunctive or other equitable relief as may be granted by a court of competent jurisdiction.

 

[REMAINDER OF PAGE INTENTIONALLY BLANK]

 

  

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IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed as of the date first above written.

 

	 	 
HYDROGEN FUTURE CORPORATION

	 
	 	 	 	 
	
 

	
By: 

	/s/ Frank Neukomm	 
	 	 	 
Frank Neukomm

	 
	 	 	 
Chief Executive Officer

	 
	 	 	 	 
	 	 	 	 
	 	 	 
AMERICAN SECURITY RESOURCES CORPORATION:

	 
	 	 	 	 
	 	By:	 
/s/ Robert C. Farr

	 
	 	 	 
Robert C. Farr

	 
	 	 	 
President and Chief Operating Officer

	 

 

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