Document:

f8k052110ex10i_feelgolf.htm

Exhibit 10.1

 

	 	
 

SOLUTIONS

	 

 

Barter Media Solutions - Media Funding Agreement 

 

THIS AGREEMENT is BETWEEN:

 

National Barter Network LLC

D/b/a Barter Media Solutions, d/b/a Media Funding Solutions

800 N. Rainbow Blvd - Suite 174 - Las Vegas, NV 89107

702-216-2940 (phone) 702-216-2941 (fax)

Represented by Jay Greenlees and Marc Hatch

www.bartermediasolutions.com - www.bartermediasolutions.net - www.mediafundingsolutions.com 

Hereinafter (" BMS")

 

- And -

 

Feel Golf Co

1354 Dayton St

Salinas, CA USA 93901 

831-422-9300-P - X 109        831-422-9301-F

 

Hereinafter ( FEEL )

 

The parties hereby acknowledge that this is a binding legal agreement, and its terms shall not be modified unless mutually agreed by both parties in writing.

 

1. Relationship of Parties:

BMS is a National Barter Exchange and Services company that provide national advertising and national media funding through various barter and alternative finance programs.

 

Feel Golf Co. - A public company, is a producer and distributor of golf products and is contracting for a $593,050.00 media schedule to be run under the Barter Media Solutions funding program whereby media is exchanged for a 15% cash placement fee and inventories acceptable to BMS in the amount of $593,050.00 at published retail value.

 

2. Media Funding Agreement

BMS agrees to provide FEEL with the attached media campaign, or approved alternative within the 14 day insertion guidelines, with a trade total of $593,050.00 and a cash placement fee total of $88,957.50

 

Feel agrees to provide BMS with 15 million Free Trading shares of Feel Golf Stock

 

BMS agrees to accept the $88,957.50 placement fee in converted value of Free Trading stock liquidated on the insertion order schedule to fund the placement fee required to initiate each 4 week phase of the campaign. BMS will liquidate portions of the 15 million shares as needed to fund the placement fee and provide FEEL with an accounting of liquidation value.

 

Any excess value after the $88,957.50 has been received by BMS will be applied to the $593,050.00 media value owed to BMS at the per share value in effect as of the date of this signing

 

The balance of the $593,050.00 Media Value is to be paid in acceptable inventory transferred free and clear to the BMS inventory facility or direct to its clients as outlined on purchase orders supplied by BMS to FEEL at full published retail value.

Current Acceptable Inventory has been identified as Golf Club: "Tsunami" Ceramic Putter @ 299.00

Other mutually agreeable inventories available in quantities of greater than 500 pieces or additional shares of free Trading stock may be used to pay the balance of the $593,050.00 Media Value

 

3. Terms of Media Placements

 

  

  

  

 

	
·  

	All ads and clients are subject to approval by the media property

	
·  

	
Advertisers may not have been a cash paying client or have contacted the local sales department within the past 12 months.

	
·  

	Creative delivered 14 days prior to start date.

	
·  

	
Affidavits are supplied within approximately 2 weeks of the end of the run or the end of the month for what ran in that month.

	
·  

	
Log reports and pre-logs are requested on a regular basis and are made available at the discretion of the system.

	
·  

	
Delivery plus or minus 5% is considered final delivery

	
·  

	
No Refunds on Cancellations -- Changes available within 14 day insertion guidelines

	
·  

	
We are not responsible for any claims or liability for advertiser's content & will not be responsible for errors in content on creative supplied

	
·  

	
Jurisdiction & venue for this agreement shall lie in Clark County, Nevada.

	
·  

	No terms or conditions other than those set forth herein shall bind parties.

	
·  

	
This agreement may be modified only in writing and signatures. No oral representations shall supersede the terms of this

	
·  

	
Agreement. The individual(s) below warrant that they have the full legal authority to sign this agreement on behalf of their respective parties.

 

4. Governing Law and 3urisdiction:

This Agreement shall be governed by the laws of the State of Nevada and in Clark County and both parties shall submit to the jurisdiction of the state and federal courts and to seek remedy by court-sanctioned arbitration prior to resorting to tort action.

 

5. Modification:

No verbal modification of this Agreement shall be made. No modification of this Agreement shall be made unless a memorandum regarding same is executed by an executive officer of both parties. No agent, employee, or other representative of either party is empowered to alter any terms of this Agreement hereof, unless done so in writing and signed by an executive officer of both parties.

 

6. Entire Agreement/Severability:

This Agreement constitutes the entire agreement and understanding of the parties with respect to the subject matter of this Agreement, and supersedes all prior understandings and agreements, whether oral or written, between or among the parties hereto with respect to the specific subject matter hereof. If any provision of this Agreement is determined by any court to be invalid, illegal, or unenforceable in any respect, such provision will be enforced to the maximum extent possible given the intent of the parties hereto. If such clause or provision cannot be so enforced, such provision shall be stricken from this Agreement and the remainder of this Agreement shall be enforced as if such invalid, illegal, or unenforceable clause or provision had (to the extent not enforceable) never been contained in this Agreement. Should a change in ownership and/or management of either party occur - This agreement and its terms and conditions and obligations of the parties shall remain intact and shall transfer to party's new owner(s) and/or management. Each of the undersigned represent that they have the legal authority to bind their respective party to this agreement

 

AGREED, UNDERSTOOD & ACCEPTED:

 

For: Feel Golf

	/s/ Lee Miller	 	Lee Miller	 	CEO	 	6/1/10
	Signature	 	Print Name	 	Title	 	Date

 

For BMS:

 

	 	 	 	 	 	 	 
	Signature	 	Print Name	 	Title	 	Datef8k052110ex10ii_feelgolf.htm

Exhibit 10.2

 

MUTUAL RELEASE AND SETTLEMENT AGREEMENT

This Mutual Release and Settlement Agreement (“Agreement”) is entered into this 28th day of October, 2010 by and between National Barter Network, LLC, dba Barter Media Solutions, dba Media Funding Solutions (at times herein referred to as “Party One”) and Feel Golf Co., Inc., a California corporation (at times herein referred to as “Party Two”), and with regards to the holding and release of stock as set forth herein, Labertew & Associates, LLC.  The labeling of the parties as Party One and Party Two is for convenience only.

WHEREAS the parties entered into Barter Media Solutions – Media Funding Agreement (the “Media Agreement”), whereby Party One received 15,000,000 (Fifteen Million) restricted shares of Party Two’s common stock, dated May 21, 2010, in exchange for Party One providing certain advertising and media services to Party Two;

WHEREAS the parties have determined not to go forward with the advertising and media services originally contemplated in the Agreement;

WHEREAS prior to the execution of the Agreement, the parties engaged in other advertising and media transactions;

WHEREAS there have been allegations that there may consideration owing between the parties related to the prior advertising and media transactions;

WHEREAS the parties wish to settle any and all claims between one another pursuant to this  Agreement;

NOW, THEREFORE, in consideration of the mutual covenants contained herein and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties agree as follows:

1.           Partial Return/Retention of Stock.   Party One agrees, within one week of execution of this Agreement, to return Stock Certificate # 177, representing 15,000,000 (Fifteen Million) shares of common stock of Party Two, to Party Two’s transfer agent, Globex Transfer, LLC, which transfer agent shall be supplied joint written instructions from Party One and Party Two to: (a) return 7,500,000 (Seven Million Five Hundred Thousand) shares to treasury; (b) issue ten certificates of 750,000 (Seven Hundred Fifty Thousand) shares each, in the name of Party One, but which shall be mailed, registered or express mail, to the law firm for Party One, Labertew & Associates, LLC, 2825 East Cottonwood Parkway, Suite 500, Salt Lake City, Utah 84121 (“Law Firm”, and which  Law Firm agrees to hold in and release from escrow such shares pursuant to the leakout provisions of Paragraph 2 of this Agreement; and (c) to allow for Party One’s sale and transfer of up to 750,000 (Seven Hundred Fifty Thousand) every two weeks, commencing Monday, November 22, 2010, subject to this Agreement and Party One’s compliance with applicable federal securities laws.  All associated costs related to the re-issuance and receipt of 10 new certificates, as well as the cost of any legal opinion related to the sale of the stock, shall be borne by Party One.

 

  

  

  

 

2.           Release and Leakout of Stock.  Party One shall be entitled to sell into the public market up to 750,000 (Seven Hundred Fifty Thousand) shares every two weeks, commencing Monday, November 22, 2010, subject to Party One’s compliance with applicable federal securities laws.  Law Firm agrees to release and deliver each of the ten stock certificates to Party One every two weeks, commencing Monday November 22, 2010, and in no event shall Law Firm release more than one stock certificate to Party One every two weeks commencing Monday, November 22, 2010.

3.           Best Efforts Regarding Reporting Requirements. Party Two agrees to use its best efforts to timely file all required periodic reports with the Securities and Exchange Commission, including the 10Q due November 15, 2010, and the 10K due April 1, 2011.

4.           Mutual Release.  Party One releases, waives and forever discharges and covenants not to sue Party Two, its successors in interest, its past, present and future assigns, officers, directors, agents and/or affiliates, and Party Two specifically releases, waives and forever discharges and covenants not to sue Party One, its successors in interest, its past, present and future assigns, officers, directors, agents and/or affiliates, from and for any and all claims, demands, actions, liabilities and causes of actions, of every kind and character, whether asserted or unasserted, whether known or unknown, suspected or unsuspected, in law or in equity, for or by reason of any matter, cause or thing whatsoever, excepting only the obligations created by, and the representations and covenants made in, this Agreement.

5.            No Conflict With Other Instruments.  The execution of this Agreement and the consummation of the transactions contemplated by this Agreement will not result in the breach of any term or provision of, or constitute an event of default under, any material contract, agreement, instrument, law or regulation to which any of the parties are subject.

6.           No Representation Regarding Tax Treatment.  No representation or warranty is being made by any party to any other regarding the treatment of the transactions contemplated herein for federal or state income taxation.

7.           Governing Law.  This Agreement shall be governed by, enforced and construed under and in accordance with the laws of the State of California.  In the event of any disputes arising under or relating to this Agreement, the Parties agree to submit to jurisdiction in Monterey County, State of California.

8.           Notices.   Any notices or other communications required or permitted hereunder shall be sufficiently given if personally delivered or delivered to the respective parties' attorneys, if sent by facsimile, email, or U.S. mail, postage prepaid, or prepaid overnight courier.

9.           Attorney’s Fees.  In the event that any party institutes any action or suit to enforce this Agreement or to secure relief from any default hereunder or breach hereof, the breaching party or parties shall reimburse the nonbreaching party or parties for all costs, including reasonable attorneys' fees, incurred in connection therewith.

 

  

  

  

 

10.           No Admission of Fault.  By executing this Agreement, neither party admits fault or breach of any obligation to the other.

11.           Entire Agreement.  This Agreement represents the entire agreement between the parties relating to the subject matter hereof.  All previous agreements between the parties, whether written or oral, have been merged into this Agreement.  This Agreement alone fully and completely expresses the agreement of the parties relating to the subject matter hereof.  There are no other courses of dealing, understandings, agreements, representations, written or oral, except as set forth herein.

12.           Counterparts; Facsimile.  This Agreement may be executed in multiple counterparts, each of which shall be deemed an original and all of which taken together shall be but a single instrument.  Facsimile and electronically transmitted signatures shall constitute original signatures, and shall be followed by delivery of original signatures.

13.           Waiver; Amendment.  No waiver by any party of the performance of any obligation by the other shall be construed as a waiver of the same or any other default then, theretofore, or thereafter occurring or existing.  This Agreement may only be amended by a writing signed by all parties hereto, with respect to any of the terms contained herein, and any term or condition of this Agreement may be waived or the time for performance thereof may be extended by a writing signed by all parties thereto.

14.           Authority.  Each individual signing this Agreement warrants and represents that he or she has the full authority and is duly authorized and empowered to execute this Agreement on behalf of the party for which he or she signs.

15.           Validity.  If any provision of this Agreement shall be held by a court of competent jurisdiction to be illegal, invalid or unenforceable, the remaining provisions shall remain in full force and effect. This Agreement has been negotiated by the parties and their respective counsel and shall be interpreted fairly in accordance with its terms and without any strict construction in favor of or against either party.

16.           Binding Effect.  This Agreement shall be binding on the parties, their successors in interest, subsidiaries, assignees or acquirers, including any acquirer of substantially all of the assets of a party.

17.           Future Cooperation. The parties agree to cooperate fully, to execute any and all supplementary documents and to take all additional actions that may be necessary or appropriate to give full force and effect to the terms and intent of this Agreement.

  

  

  

 

IN WITNESS WHEREOF, the parties have executed this Agreement effective as of the date first set forth above.

_/s/ Jay Greenlees__________________

National Barter Network, LLC, dba

Barter Media Solutions, dba Media Funding Solutions

By Jay Greenlees

Its Manager

_/s/ Lee Miller_____________________

Feel Golf Co., Inc.

By Lee Miller

Its President

AS TO THE OBLIGATIONS RELATED TO HOLDING AND RELEASING OF STOCK:

_/s/ Michael L. Labertew____________

Labertew & Associates, LLC

By Michael L. Labertew

Its Manager

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00181-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00181-of-00352.parquet"}]]