Document:

EX-10.4

Exhibit 10.4

FLAGSTAR BANK, FSB

SEVERANCE AGREEMENT

     THIS SEVERANCE AGREEMENT (this “Agreement”) by and between Flagstar Bank, FSB, a
federally-chartered savings bank, Flagstar Bancorp, Inc. (collectively, the “Bank”), and Robert O.
Rondeau, Jr. (the “Executive”), is entered into as of the 30th day of January, 2009 (the “Effective
Date”).

     WHEREAS, the Bank and the Executive entered into an Employment Agreement origninally effective
December 31, 2000 (the “Employment Agreement”); and

     WHEREAS, the Bank and the Executive desire to terminate the employment relationship now
existing between the Bank and the Executive effective January 30, 2009 (the “Termination Date”);
and

     WHEREAS, the Bank and the Executive desire to enter into this Agreement to fully set forth the
terms and conditions of the Executive’s separation from employment with the Bank.

     NOW, THEREFORE, for good and valuable consideration, the adequacy and sufficiency of which is
hereby acknowledged, the undersigned parties do agree as follows:

     1. Consideration to Employee: The Bank will pay the Executive severance equal to the
sum of two years of the Executive’s base salary plus two years of the Executive’s targeted bonus
(the “Severance Payment”). From this Severance Payment, the Bank shall make any and all deductions
required by law. The Bank will make this payment to the Executive in one lump sum payable 10 after
the Termination Date. The Executive agrees that absent this Agreement, the Bank is under no
obligation to make the Severance Payment set forth herein.

     2. Waiver of all other Benefits from Employer: In consideration for the Severance
Payment, the Executive waives any and all rights to any other compensation or benefits contemplated
under the Employment Agreement that the Executive may have been entitled to. Except for the
Severance Payment, neither the Bank nor any entity or person affiliated with the Bank will be
obligated to pay the Executive any further compensation or benefits.

     3. General Release: In consideration of the payments described in Paragraph 1 above,
the Executive, on behalf of himself, his heirs, assigns and successors, generally and irrevocably
waives, releases and discharges the Bank and its predecessors, successors and assigns, parent
companies, subsidiaries, affiliates, officers, directors, members, employees, attorneys and agents
(“Related Persons”), past and present, from any civil, criminal, or equitable action, right or
cause of action for monetary or equitable relief, any charge, complaint, or grievance with any
governmental agency, court, or otherwise, or any claim for any relief, including damages, lost
wages, declaratory, monetary, or other relief, whether known or unknown, vested or contingent,
suspected or unsuspected, that the Executive may now have or has ever had against the aforesaid
entities. This Agreement irrevocably waives, releases and bars any such action, claim, or
grievance whatsoever by the Executive against the aforesaid entities,

 

 

including but not limited to back pay, front pay, wages, additional sums, damages, breach of
contract, intentional or other tort, accident or injury whether currently known or unknown, and all
claims under all federal, state, and local statutes, regulations, and ordinances, or common law
claims, including, but not limited to, The National Labor Relations Act, as amended, Title VII of
the Civil Rights Act of 1964, as amended, the Equal Pay Act, as amended, the Pregnancy
Discrimination Act, as amended, any State Civil or Human Rights Act, 42 U.S.C. § 1981, The
Americans with Disabilities Act, as amended, the Age Discrimination in Employment Act of 1967, as
amended, the Rehabilitation Act of 1973, the Worker Adjustment and Retraining Notifications Act, as
amended, the Family and Medical Leave Act, as amended, the Fair Labor Standards Act, as amended,
any state Wage Payment Act, the Employee Retirement Income Security Act, claims for retaliatory
discharge under any state Workers’ Compensation Act, and any other state, federal, or local
statute, ordinance, common law, or regulation, or any alleged contractual right or right under any
employee benefit plan, excepting only vested retirement benefits as provided by law.

HAVING ELECTED TO EXECUTE THIS AGREEMENT TO FULFILL THE PROMISES AND TO RECEIVE THE SUMS AND
BENEFITS HEREIN, THE EXECUTIVE FREELY AND KNOWINGLY, AND AFTER DUE CONSIDERATION AND HAVING BEEN
ADVISED TO SECURE THE ADVICE AND COUNSEL OF AN ATTORNEY OF EXECUTIVE’S CHOOSING, ENTERS INTO THIS
AGREEMENT AND RELEASE INTENDING TO WAIVE, SETTLE, AND RELEASE ANY CLAIM HE HAS OR MIGHT HAVE
AGAINST EMPLOYER.

BY SIGNING BELOW, THE EXECUTIVE ACKNOWLEDGES HE HAS CAREFULLY READ THIS AGREEMENT, THAT HE
UNDERSTANDS ITS TERMS, AND THAT HE HAS ENTERED INTO THIS AGREEMENT VOLUNTARILY AND NOT IN RELIANCE
ON ANY PROMISES OR REPRESENTATIONS OTHER THAN THOSE CONTAINED IN THE AGREEMENT ITSELF.

EXECUTIVE HAS BEEN AFFORDED THE OPPORTUNITY TO REVIEW AND CONSIDER THIS DOCUMENT FOR AT LEAST 21
DAYS, AND HAVS SEVEN DAYS FROM THE DATE GIVEN BELOW TO REVOKE THIS RELEASE AND WAIVER.

[The remainder of this page is left intentionally blank.]

2

 

     IN WITNESS WHEREOF, the parties have executed this Agreement as of this 30th day of January
2009, effective as of the Effective Date specified above.

	 	 	 	 	 
	 	FLAGSTAR BANK, FSB

 	 
	 	By:  	/s/ Mark T. Hammond
 	 
	 	 	Mark T. Hammond, President and CEO 	 
	 	 	 	 
	 
	 	FLAGSTAR BANCORP, INC.

 	 
	 	By:  	/s/ Mark T. Hammond
 	 
	 	 	Mark T. Hammond, President and CEO 	 
	 	 	 	 
	 
	 	ROBERT O. RONDEAU, JR., Executive

 	 
	 	By:  	/s/ Robert O. Rondeau, Jr.
 	 
	 	 	Robert O. Rondeau, Jr. 	 
	 	 	 	 
	 

3ex101.htm

    Exhibit
10.1

     

     

    
      SHARE EXCHANGE
AGREEMENT

      

      This
SHARE EXCHANGE AGREEMENT
(the “Agreement”) dated as of January 30,
2009 is by and among AUXERRE
TRADING LTD., a Limited Liability Company formed under the laws of the
British Virgin Islands, Reg. No. 537804 (the “Auxerre”) and the
holder of a 100% capital stock or equity interests in KARBON, CJSC, a Closed Joint
Stock Company formed under the laws of the Russian Federation, Reg. No.
10256010355583 (the “Company”), and
PREMIER
ENERGY  CORP., a Florida corporation (“Premier”), filing
reports pursuant to the Securities Exchange Act of 1934, as amended (the “Exchange
Act”).  Each of the
parties to this Agreement is individually referred to herein as a “Party” and collectively, as the
“Parties.”

       

      BACKGROUND

      

      WHEREAS, Auxerre owns 100% of
the capital stock or equity interest (“Equity
Interest”) issued and outstanding of
the Company;

      

      WHEREAS, at the time of
“Closing” (as hereinafter defined), Premier will have 210,600,000 shares of
common stock issued and outstanding representing all of the issued and
outstanding capital stock interest of Premier, there being no other shares of
capital stock, warrants, options or convertible securities of Premier issued or
to be outstanding prior to the completion of this Agreement;

      

      WHEREAS, the Company has
601,000 capital stock interests outstanding and no other capital stock interests
or warrants, options or convertible securities issued or to be outstanding
pending the completion of this Agreement;

      

      WHEREAS, Premier desires to
issue and exchange 107,406,000 shares of its common stock (“Premier
Stock”),
representing 51% of the common stock of Premier, in exchange for the 51% of the
Company or 306,510 shares of the Company; and

      

      WHEREAS, the Board of
Directors of the Company, Auxerre and Premier have determined that is desirable
to effect this Agreement.

      

      AGREEMENT

      

      NOW THEREFORE, the parties
agree as follows:

      

      ARTICLE
I

      

      Exchange of
Shares

      

      SECTION 1.01. The above recitals
are incorporated by reference as if fully stated herein.

       

      
        
          
          

        

        
          1

          
            

          

        

        
          
          

        

      

       

      SECTION
1.02. Exchange by
Auxerre and Premier.  At the Closing (as defined in Section
1.03), Auxerre shall sell, transfer, convey, assign and deliver to Premier the
51% Equity Interest free and clear of all Liens (as defined below) in exchange
for 107,406,000 shares of common stock of Premier representing the 51% capital
stock interest in Premier.

       

      SECTION
1.03. Closing.  The
closing (the “Closing”)
of the transactions contemplated hereby (the “Transactions”)
shall take place at the offices of Premier commencing at 10:00 a.m. local time
on the second business day following the satisfaction or waiver of all
conditions to the obligations of the parties to consummate the Transactions
contemplated hereby (other than conditions with respect to actions the
respective parties will take at the Closing itself), or such other date and time
as the parties may mutually determine (the “Closing
Date”).

      

      SECTION 1.04. Return of Shares by ZRV
Consulting LLC.  In conjunction with the Closing, ZRV
Consulting Inc. (“ZRV”) will return to the treasury of Premier 107,406,000
shares of common stock which shall be reissued to Auxerre as the Premier Stock,
representing 51% of the outstanding capital stock of Premier.

      

      

      ARTICLE
II

       

      Representations and
Warranties of Auxerre

       

      Auxerre
hereby represents and warrants to Premier with respect to itself, as
follows:

       

      SECTION
2.01. Good Title;
Validity of Option; Organization.  Except for the discharge of
those liens, security interests, pledges, equities and claims effected hereby,
Auxerre is the record and beneficial owner, and has good title to the Equity
Interest, with the right and authority to sell and deliver such Equity
Interest.  Upon delivery of any certificate or certificates duly
assigned, representing the same as herein contemplated and/or upon registering
of Premier as the new owner of such Equity Interest in the share register of the
Company, Premier will receive good title to such Equity Interest, free and clear
of all liens, security interests, pledges, equities and claims of any kind,
voting trusts, stockholder agreements and other encumbrances (collectively,
“Liens”).

       

      SECTION
2.02. Power and
Authority.  Auxerre has the legal power and authority to
execute and deliver this Agreement and to perform its obligations
hereunder.  All acts required to be taken by Auxerre to enter into
this Agreement and the Company and to carry out the Transactions have been
properly taken.  This Agreement constitutes a legal, valid and binding
obligation of Auxerre, enforceable against Auxerre in accordance with the terms
hereof.

       

      
        
          
          

        

        
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      SECTION
2.03. No
Conflicts.  The execution and delivery of this Agreement by
Auxerre and the performance by Auxerre of its obligations hereunder in
accordance with the terms hereof: (i) will not require the consent of any third
party or any federal, state, local or foreign government or any court of
competent jurisdiction, administrative agency or commission or other
governmental authority or instrumentality, domestic or foreign (“Governmental
Entity”) under any statutes, laws, ordinances, rules, regulations,
orders, writs, injunctions, judgments, or decrees (collectively, “Laws”);
(ii) will not violate any Laws applicable to Auxerre and (iii) will not violate
or breach any contractual obligation to which Auxerre is a party.

       

      SECTION
2.04. No Finder’s
Fee.  Auxerre has not created any obligation for any finder’s,
investment banker’s or broker’s fee in connection with the
Transactions.

      

      SECTION
2.05. Acquisition
Entirely for Own Account.  The Premier Stock proposed to be
acquired by Auxerre hereunder will be acquired for investment for its own
account, and not with a view to the resale or distribution of any part thereof,
and Auxerre has no present intention of selling or otherwise distributing the
Premier Stock, except in compliance with applicable securities
laws.

       

      SECTION
2.06. Available
Information.  Auxerre has such knowledge and experience in
financial and business matters that it is capable of evaluating the merits and
risks of investment in Premier, it has received all documents and information
from Premier that it has requested and been allowed the opportunity to ask
questions of and receive answers from Premier officers and
directors.  Auxerre does not desire to receive any further documents,
information or answers.

       

      SECTION
2.07. Non-Registration.  Auxerre
acknowledges that the Premier Stock has not been registered under the Securities
Act of 1933, as amended (the “Securities
Act”) and, if issued in accordance with the provisions of this Agreement,
will be issued by reason of a specific exemption from the registration
provisions of the Securities Act which depends upon, among other things, the
bona fide nature of the investment intent and the accuracy of Auxerre
representations as expressed herein.

       

      SECTION
208. Restricted
Securities.  Auxerre understands that the Premier Stock is
characterized as “restricted securities” under the Securities Act inasmuch as
this Agreement contemplates that, if acquired by Auxerre pursuant hereto, the
Premier Stock would be acquired in a transaction not involving a public
offering.  Auxerre acknowledges that the Premier Stock issued to
Auxerre in accordance with the provisions of this Agreement, such Premier Stock
may not be resold without registration under the Securities Act or the existence
of an exemption therefrom.  Auxerre represents that it is familiar
with Rule 144 promulgated under the Securities Act, as presently in effect, and
understands the resale limitations imposed thereby and by the Securities
Act.

       

      SECTION
2.09. Legends.  It
is understood that the Premier Stock will bear the following legend or one that
is substantially similar to the following legend:

       

      THESE
SECURITIES HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OR UNDER APPLICABLE
STATE SECURITIES LAWS AND MAY NOT BE SOLD, TRANSFERRED OR OTHERWISE DISPOSED OF
UNLESS REGISTERED UNDER THE SECURITIES ACT AND ANY APPLICABLE STATE SECURITIES
LAWS OR PURSUANT TO AVAILABLE EXEMPTIONS FROM SUCH REGISTRATION, PROVIDED THAT
THE SELLER DELIVERS TO THE COMPANY AN OPINION OF COUNSEL (WHICH OPINION IS
REASONABLY SATISFACTORY TO THE COMPANY) CONFIRMING THE AVAILABILITY OF SUCH
EXEMPTION. THESE SECURITIES MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN
ACCOUNT SECURED BY SUCH SECURITIES TO THE EXTENT PERMITTED BY APPLICABLE FEDERAL
AND STATE SECURITIES LAWS; and

       

      
        
          
          

        

        
          3

          
            

          

        

        
          
          

        

      

      

      any
legend required by the “blue sky” laws of any state to the extent such laws are
applicable to the securities represented by the certificate so
legended.

       

      SECTION
2.10. Auxerre
Investor Status.  Auxerre is an (i) “accredited investor”
within the meaning of Rule 501 promulgated under the Securities Act; or (ii) a
non-United States persons as defined in Regulation S of the Securities
Act.

       

      ARTICLE
III

      

      Representations and
Warranties of Auxerre and the Company

       

      In order
to induce Premier to enter into this Agreement and to consummate the
Transactions contemplated hereby, as of the date hereof and as of the Closing
Date, Auxerre and the Company hereby represent and warrant to Premier that the
statements contained in this Article III are true
and correct, subject to those exceptions set forth in the disclosure schedules
attached hereto and delivered to Premier on the date hereof (the “Company
Disclosure Schedule”).  The Company Disclosure Schedule with
respect to this Article III will be arranged in paragraphs corresponding to the
numbered and lettered paragraphs contained in this Article III.  Any
matter disclosed in a numbered and lettered section of the Company Disclosure
Schedule shall be deemed to be disclosed in other locations throughout the
Company Disclosure Schedule to the extent such disclosure is reasonably
apparent:

       

      SECTION
3.01. Organization, Standing and
Power.  The Company is duly organized, validly existing and in
good standing under the laws of the jurisdiction in which it is organized and
possesses all governmental franchises, licenses, permits, authorizations and
approvals necessary to enable it to own, lease or otherwise hold its properties
and assets and to conduct its businesses as presently conducted, other than such
franchises, licenses, permits, authorizations and approvals the lack of which,
individually or in the aggregate, has not had and would not reasonably be
expected to have a material adverse effect on the Company, a material adverse
effect on the ability of the Company to perform its obligations under this
Agreement or on the ability of the Company to consummate the Transactions (a
“Company
Material Adverse Effect”).  The Company is duly qualified to do
business in each jurisdiction where the nature of its business or its ownership
or leasing of its properties make such qualification necessary except where the
failure to so qualify would not reasonably be expected to have a Company
Material Adverse Effect.  The Company has delivered to Premier true
and complete copies of the Charter, Constituent Agreement, Registration
Certificate, Codes of Statistics and Permit to issue shares or actions of the
Company and such other constituent instruments of the Company as may exist, each
as amended to the date of this Agreement (as so amended, the “Company
Constituent Instruments”).

       

      
        
          
          

        

        
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      SECTION
3.02. No Company
Subsidiaries; No Equity Interests.  The Company does not as of
the date of this Agreement own, directly or indirectly, any capital stock,
membership interest, partnership interest, joint venture interest or other
equity interest in any person.

       

      SECTION
3.03. Capital
Structure.  The authorized capital of the Company consists of
601,000 of which 601,000 equity or capital stock interests (“Capital
Stock’) are
issued and outstanding.  Except as set forth above, no shares of
Capital Stock or other voting securities of the Company are issued, reserved for
issuance or outstanding.  All outstanding shares of the Capital Stock
of the Company are duly authorized, validly issued, fully paid and nonassessable
and not subject to or issued in violation of any purchase option, call option,
right of first refusal, preemptive right, subscription right or any similar
right under any provision of the applicable corporate laws of the Russian
Federation, the Company Constituent Instruments or any Contract (as defined in
Section
3.05) to which the Company is a party or otherwise
bound.  Except as set forth in this Section
3.03, there are not any bonds, debentures, notes or other indebtedness of
the Company having the right to vote (or convertible into, or exchangeable for,
securities having the right to vote).  As of the date of this
Agreement, there are not any options, warrants, rights, convertible or
exchangeable securities, “phantom” stock rights, stock appreciation rights,
stock-based performance units, commitments, Contracts, arrangements or
undertakings of any kind to which the Company or Auxerre is a party or by which
it is bound (i) obligating the Company or Auxerre to issue, deliver or sell, or
cause to be issued, delivered or sold, additional shares of Capital Stock or
other equity interests in, or any security convertible or exercisable for or
exchangeable into any capital stock of or other equity interest in, the Company,
(ii) obligating the Company or Auxerre to issue, grant, extend or enter into any
such option, warrant, call, right, security, commitment, contract, arrangement
or undertaking or (iii) that give any person the right to receive any economic
benefit or right similar to or derived from the economic benefits and rights
occurring to holders of the Capital Stock of the Company.

       

      SECTION
3.04. Authority;
Execution and Delivery; Enforceability.  The Company has all
requisite corporate power and authority to execute and deliver this Agreement
and to consummate the Transactions.  The execution and delivery by the
Company of this Agreement and the consummation by the Company of the
Transactions have been duly authorized and approved by the Board of Directors of
the Company and no other corporate proceedings on the part of the Company are
necessary to authorize this Agreement and the Transactions.  When
executed and delivered, this Agreement will be enforceable against the Company
in accordance with its terms.

       

      SECTION
3.05  No
Conflicts; Consents.

       

      (a)         The
execution and delivery by the Company and Auxerre of this Agreement does not,
and the consummation of the Transactions and compliance with the terms hereof
and thereof will not, conflict with, or result in any violation of or default
(with or without notice or lapse of time, or both) under, or give rise to a
right of termination, cancellation or acceleration of any obligation or to loss
of a material benefit under, or result in the creation of any Lien upon any of
the properties or assets of the Company under, any provision of (i) the Company
Constituent Instruments or, (ii) any material contract, lease, license,
indenture, note, bond, agreement, permit, concession, franchise or other
instrument (a “Contract”)
to which the Company or Auxerre is a party or by which its properties or assets
is bound or (iii) any material judgment, order or decree (“Judgment”)
or material Law applicable to the Company or its properties or assets, other
than, in the case of clauses (ii) and (iii) above, any such items that,
individually or in the aggregate, have not had and would not reasonably be
expected to have a Company Material Adverse Effect.

       

      
        
          
          

        

        
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      (b)         No
material consent, approval, license, permit, order or authorization (“Consent”)
of, or registration, declaration or filing with, or permit from, any
Governmental Entity is required to be obtained or made by or with respect to the
Company in connection with the execution, delivery and performance of this
Agreement or the consummation of the Transactions.

       

      SECTION
3.06. Taxes.

       

      (a)         The
Company has timely filed, or has caused to be timely filed on its behalf, all
Tax Returns required to be filed by it, and all such Tax Returns are true,
complete and accurate, except to the extent any failure to file or any
inaccuracies in any filed Tax Returns, individually or in the aggregate, have
not had and would not reasonably be expected to have a Company Material Adverse
Effect.  All Taxes shown to be due on such Tax Returns, or otherwise
owed, have been timely paid, except to the extent that any failure to pay,
individually or in the aggregate, has not had and would not reasonably be
expected to have a Company Material Adverse Effect.  There are no
unpaid taxes in any material amount claimed to be due by the taxing authority of
any jurisdiction, and the officers of the Company know of no basis for any such
claim.

       

      (b)         The
Company Financial Statements (as defined in Section
3.15) reflect an adequate reserve for all Taxes payable by the Company
(in addition to any reserve for deferred Taxes to reflect timing differences
between book and Tax items) for all Taxable periods and portions thereof through
the date of such financial statements.  No deficiency with respect to
any Taxes has been proposed, asserted or assessed against the Company, and no
requests for waivers of the time to assess any such Taxes are pending, except to
the extent any such deficiency or request for waiver, individually or in the
aggregate, has not had and would not reasonably be expected to have a Company
Material Adverse Effect.

       

      (c)         For
purposes of this Agreement:

       

      “Taxes”
includes all forms of taxation, whenever created or imposed, and whether of the
United States or elsewhere, and whether imposed by a local, municipal,
governmental, state, foreign, federal or other Governmental Entity, or in
connection with any agreement with respect to Taxes, including all interest,
penalties and additions imposed with respect to such amounts.

       

      “Tax
Return” means all federal, state, local, regional, provincial and foreign
Tax returns, declarations, statements, reports, schedules, forms and information
returns and any amended Tax return relating to Taxes.

        

      SECTION
3.07. Benefit
Plans.  The Company does not have or maintain any collective
bargaining agreement or any bonus, pension, profit sharing, deferred
compensation, incentive compensation, stock ownership, stock purchase, stock
option, phantom stock, retirement, vacation, severance, disability, death
benefit, hospitalization, medical or other plan, arrangement or understanding
(whether or not legally binding) providing benefits to any current or former
employee, officer or director of the Company (collectively, “Company
Benefit Plans”).  As of the date of this Agreement there are
not any severance or termination agreements or arrangements between the Company
and any current or former employee, officer or director of the Company, nor does
the Company have any general severance plan or policy.

       

      
        
          
          

        

        
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      SECTION
3.08. Litigation.  There
is no action, suit, inquiry, notice of violation, proceeding (including any
partial proceeding such as a deposition) or investigation pending or threatened
in writing against or affecting the Company or Auxerre, or any of its properties
before or by any court, arbitrator, governmental or administrative agency,
regulatory authority (“Action”)
which (i) adversely affects or challenges the legality, validity or
enforceability of this Agreement or (ii) could, if there were an unfavorable
decision, individually or in the aggregate, have or reasonably be expected to
have a Company Material Adverse Effect. Neither the Company, nor any director or
officer thereof (in his or her capacity as such), is or has been the subject of
any Action involving a claim or violation of or liability under any securities
laws or a claim of breach of fiduciary duty.

       

      SECTION
3.09. Compliance
with Applicable Laws.  The Company is in compliance with all
applicable Laws, including those relating to occupational health and safety and
the environment, except for instances of noncompliance that, individually and in
the aggregate, have not had and would not reasonably be expected to have a
Company Material Adverse Effect.  The Company has not received any
written communication during the past two years from a Governmental Entity that
alleges that the Company is not in compliance in any material respect with any
applicable Law. This Section
3.09 does not relate to matters with respect to Taxes, which are the
subject of Section
3.06.

       

      SECTION
3.10. Oil and Gas
Operations.  Except as otherwise set forth in the Disclosure
Schedule, and except for matters as would not reasonably be expected to result
in a Company Material Adverse Effect on the Company, to the knowledge of the
Company, all wells included in the Company’s oil and gas interests have been
drilled and (if completed) completed, operated and produced in accordance with
generally accepted oil and gas field practices and in compliance in all material
respects with applicable oil and gas leases, pooling and unit agreements, and
applicable laws, rules, regulations, judgments, orders and decrees issued by any
court or governmental authority.  No well included in the Company’s
oil and gas interests is subject to penalties on allowables because of any
overproduction or any other violation of applicable laws that would prevent such
well from being entitled to its full legal and regular allowable from and after
the Closing Date as prescribed by any governmental authority.  Except
as otherwise set forth in the Disclosure Schedule, to the knowledge of the
Company:

      

      (a) there are
no wells that the Company is currently obligated by law or contract to plug and
abandon;

      

      (b) there are
no wells that are subject to exceptions to a requirement to plug and abandon
issued by a governmental authority having jurisdiction over the applicable
lease;

       

      
        
          
          

        

        
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      (c) there are
no wells that have been plugged and abandoned but have not been plugged in
accordance, in all material respects, with all applicable requirements of each
governmental authority having jurisdiction over the Company’s oil and gas
interests;

      

      (d) with
respect to the oil, gas and other mineral leases, unit agreements, pooling
agreements, communitization agreements and other documents creating interests
comprising the Company’s oil and gas interests:  (i) the Company has
fulfilled all requirements in all material respects for filings, certificates,
disclosures of parties in interest, and other similar matters contained in (or
otherwise applicable thereto by law, rule or regulation) such leases or other
documents and is fully qualified to own and hold all such leases or other
interests, (ii) there are no provisions applicable to such leases or other
documents which increase the royalty share of the lessor thereunder, and (ii)
upon the establishment and maintenance of production in commercial quantities,
such leases and other documents are to be in full force and effect over the
economic life of the property involved and do not have terms fixed by a certain
number of years; and

      

      (e) no person
has any call upon, option to purchase, preferential right to purchase or similar
rights with respect to the Company’s oil and gas interests or to the production
therefrom.

      

      Notwithstanding
anything in this Section 3.10 to the contrary, the representations and
warranties contained in subsections (a) through (e) above are made to the
knowledge of the Company with respect to those oil and gas interests not
operated by the Company.

      

      SECTION
3.11. Contracts.  Except
as disclosed in Section
3.11 of the Company Disclosure Schedule, there are no Contracts that are
material to the business, properties, assets, condition (financial or
otherwise), results of operations or prospects of the Company.  The
Company is not in violation of or in default under (nor does there exist any
condition which upon the passage of time or the giving of notice would cause
such a violation of or default under) any Contract to which it is a party or by
which it or any of its properties or assets is bound, except for violations or
defaults that would not, individually or in the aggregate, reasonably be
expected to result in a Company Material Adverse Effect.

       

      SECTION
3.12. Title to
Properties.  The Company does not own any real
property.  The Company has sufficient title to, or valid leasehold
interests in, all of its properties and assets used in the conduct of its
businesses.  All such assets and properties, other than assets and
properties in which the Company has leasehold interests, are free and clear of
all Liens except for Liens that, in the aggregate, do not and will not
materially interfere with the ability of the Company and the Company
Subsidiaries to conduct business as currently conducted.

       

      SECTION
3.13. Intellectual
Property.  The Company owns, or is validly licensed or
otherwise have the right to use, all patents, patent rights, trademarks,
trademark rights, trade names, trade name rights, service marks, service mark
rights, copyrights and other proprietary intellectual property rights and
computer programs (collectively, “Intellectual
Property Rights”) which are material to the conduct of the business of
the Company.  Section
3.13 of the Company Disclosure Schedule sets forth a description of all
Intellectual Property Rights which are material to the conduct of the business
of the Company.  There are no claims pending or, to the knowledge of
the Company, threatened that the Company is infringing or otherwise adversely
affecting the rights of any person with regard to any Intellectual Property
Right.  To the knowledge of the Company, no person is infringing the
rights of the Company with respect to any Intellectual Property
Right.

       

      
        
          
          

        

        
          8

          
            

          

        

        
          
          

        

      

       

      SECTION
3.14. Labor
Matters.  There are no collective bargaining or other labor
union agreements to which the Company is a party or by which any of them is
bound.  No material labor dispute exists or, to the knowledge of the
Company, is imminent with respect to any of the employees of the
Company.

       

      SECTION
3.15. Financial
Statements.  Prior to the Closing the Company will deliver to
Premier its audited consolidated financial statements for the fiscal period of
time commencing with its inception to a date within 135 days of the closing.
(collectively, the “Company
Financial Statements”).  Upon delivery, the Company Financial
Statements will have been prepared in accordance with U.S. promulgated generally
accepted accounting principles applied on a consistent basis throughout the
periods indicated and in respect of interim periods subject to year end
adjustments.  The Company Financial Statements will fairly present in
all material respects the financial condition and operating results of the
Company, as of the dates, and for the periods, indicated therein.  The
Company will not have any material liabilities or obligations, contingent or
otherwise, other than (i) liabilities incurred in the ordinary course of
business subsequent to December 31, 2007, and (ii) obligations under
contracts and commitments incurred in the ordinary course of business and not
required under generally accepted accounting principles to be reflected in the
Company Financial Statements, which, in both cases, individually and in the
aggregate would not be reasonably expected to result in a Company Material
Adverse Effect.

        

      SECTION
3.16. Insurance.  The
Company is insured by insurers of recognized financial responsibility against
such losses and risks and in such amounts as are prudent and customary in the
businesses in which the Company is engaged and in the geographic areas where it
engages in such businesses.  The Company has no reason to believe that
it will not be able to renew its existing insurance coverage as and when such
coverage expires or to obtain similar coverage from similar insurers as may be
necessary to continue its business on terms consistent with market for the
Company’s lines of business.

       

      SECTION
3.17. Transactions
With Affiliates and Employees.  Except as set forth in the
Company Financial Statements, none of the officers or directors of the Company
or Auxerre and, to the knowledge of the Company, none of the employees of the
Company is presently a party to any transaction with the Company (other than for
services as employees, officers and directors), including any contract,
agreement or other arrangement providing for the furnishing of services to or
by, providing for rental of real or personal property to or from, or otherwise
requiring payments to or from any officer, director or such employee or, any
entity in which any officer, director, or any such employee has a substantial
interest or is an officer, director, trustee or partner.

       

      
        
          
          

        

        
          9

          
            

          

        

        
          
          

        

      

       

      SECTION
3.18. Internal
Accounting Controls.  The Company maintains a system of
internal accounting controls sufficient to provide reasonable assurance that (i)
transactions are executed in accordance with management's general or specific
authorizations, (ii) transactions are recorded as necessary to permit
preparation of financial statements in conformity with generally accepted
accounting principles and to maintain asset accountability, (iii) access to
assets is permitted only in accordance with management's general or specific
authorization, and (iv) the recorded accountability for assets is compared with
the existing assets at reasonable intervals and appropriate action is taken with
respect to any differences.  The Company has established disclosure
controls and procedures for the Company and designed such disclosure controls
and procedures to ensure that material information relating to the Company, is
made known to the officers by others within those entities.  The
Company's officers have evaluated the effectiveness of the Company's controls
and procedures.  Since December 31, 2007, there have been no
significant changes in the Company’s internal controls or, to the Company's
knowledge, in other factors that could significantly affect the Company's
internal controls.

       

      SECTION
3.19. Solvency.  Based
on the financial condition of the Company as of the Closing Date and after
giving effect to the Closing, (i) the Company's fair saleable value of its
assets exceeds the amount that will be required to be paid on or in respect of
the Company's existing debts and other liabilities (including known contingent
liabilities) as they mature, (ii) the Company's  assets do not
constitute unreasonably small capital to carry on its business for the current
fiscal year as now conducted and as proposed to be conducted including its
capital needs taking into account the particular capital requirements of the
business conducted by the Company, and projected capital requirements and
capital availability thereof, and (iii) the current cash flow of the Company,
together with the proceeds the Company  would receive, were it to
liquidate all of its assets, after taking into account all anticipated uses of
the cash, would be sufficient to pay all amounts on or in respect of its debt
when such amounts are required to be paid.  The Company does not
intend to incur debts beyond its ability to pay such debts as they mature
(taking into account the timing and amounts of cash to be payable on or in
respect of its debt).

       

      SECTION
3.20. Application
of Takeover Protections.  The Company  has taken all
necessary action, if any, in order to render inapplicable any control share
acquisition, business combination, poison pill (including any distribution under
a rights agreement) or other similar anti-takeover provision under the Company's
charter documents or the laws of the jurisdiction of the Company’s incorporation
that is or could become applicable as a result of Auxerre and the Company
fulfilling their obligations or exercising their rights under this
Agreement.

       

      SECTION
3.21. No
Additional Agreements.  The Company has no agreement or
understanding with Auxerre with respect to the transactions contemplated by this
Agreement other than as specified in this Agreement.

       

      
        
          
          

        

        
          10

          
            

          

        

        
          
          

        

      

       

      SECTION
3.22. Investment
Company.  The Company is not, and is not an affiliate of, and
immediately following the Closing will not have become, an “investment company”
within the meaning of the Investment Company Act of 1940, as
amended.

       

      SECTION
3.23. Disclosure.  All
disclosure regarding the Company, its business and the transactions contemplated
hereby, furnished by or on behalf of the Company (including the Company’s
representations and warranties set forth in this Agreement) are true and correct
and do not contain any untrue statement of a material fact or omit to state any
material fact necessary in order to make the statements made therein, in light
of the circumstances under which they were made, not misleading.

       

      SECTION
3.24. Information
Supplied.  None of the information supplied or to be supplied
by the Company for inclusion or incorporation by reference in any filing to be
made under the Securities Exchange Act of 1934 will contain any untrue statement
of a material fact or omit to state any material fact required to be stated
therein or necessary in order to make the statements therein, in light of the
circumstances under which they are made, not misleading.

        

      SECTION
3.25. Absence of
Certain Changes or Events.  Except as disclosed in the Company
Financial Statements, from December 31, 2007 to the date of this Agreement, the
Company has conducted its business only in the ordinary course, and during such
period there has not been:

       

      (a)         any
change in the assets, liabilities, financial condition or operating results of
the Company, except changes in the ordinary course of business that have not
caused, in the aggregate, a Company Material Adverse Effect;

       

      (b)         any
damage, destruction or loss, whether or not covered by insurance, that would
have a Company Material Adverse Effect;

       

      (c)         any
waiver or compromise by the Company of a valuable right or of a material debt
owed to it;

       

      (d)         any
satisfaction or discharge of any lien, claim, or encumbrance or payment of any
obligation by the Company, except in the ordinary course of business and the
satisfaction or discharge of which would not have a Company Material Adverse
Effect;

       

      (e)         any
material change to a material Contract by which the Company or any of its
respective assets is bound or subject;

       

      (f)         any
mortgage, pledge, transfer of a security interest in, or lien, created by the
Company, with respect to any of its material properties or assets, except liens
for taxes not yet due or payable and liens that arise in the ordinary course of
business and do not materially impair the Company’s ownership or use of such
property or assets;

       

      
        
          
          

        

        
          11

          
            

          

        

        
          
          

        

      

       

      (g)         any
loans or guarantees made by the Company to or for the benefit of its employees,
officers or directors, or any members of their immediate families, other than
travel advances and other advances made in the ordinary course of its
business;

       

      (h)         any
alteration of the Company’s method of accounting or the identity of its
auditors;

       

      (i)         any
declaration or payment of dividend or distribution of cash or other property to
the Stockholders or any purchase, redemption or agreements to purchase or redeem
any shares of Company Stock;

       

      (j)         any
issuance of equity securities to any officer, director or
affiliate;

       

      (k)         any
arrangement or commitment by the Company to do any of the things described in
this Section 3.25.

       

      ARTICLE
IV

      

      Representations and
Warranties of_Premier

       

      In order
to induce the Company to enter into this Agreement and to consummate the
transactions contemplated hereby, as of the date hereof and as of the Closing
Date, Premier hereby represents and warrant to Auxerre and the Company that the
statements contained in this Article IV are true and correct subject to those
exceptions set forth in the disclosure schedules attached hereto and delivered
to the Company on the date hereof (the “Premier
Disclosure
Schedule”).  The Premier Disclosure Schedule with respect to
this Article IV will be arranged in paragraphs corresponding to the numbered and
lettered paragraphs contained in this Article IV.  Any matter
disclosed in a numbered and lettered section of the Premier Disclosure Schedule
shall be deemed to be disclosed in other locations throughout the Premier
Disclosure Schedule to the extent such disclosure is reasonably
apparent:

       

      SECTION
4.01. Organization, Standing and
Power.  Premier is duly organized, validly existing and in good
standing under the laws of the State of Florida.  Premier has
delivered to the Company and Auxerre (i) true and complete copies of the
Articles of Incorporation of Premier, as amended to the date of this Agreement
(as so amended, the “Premier
Charter”),
and the Bylaws of Premier, as amended to the date of this Agreement (as so
amended, the “Premier
Bylaws”).

       

      SECTION
4.02. No Subsidiaries;
No Equity Interests.  Premier does not own, directly or
indirectly, any capital stock, membership interest, partnership interest, joint
venture interest or other equity interest in any person.

      

      SECTION
4.03. Capital
Structure.  The authorized capital stock of Premier consists of
250,000,000 shares of Common Stock, $0.0001 par value per share, and 10,000,000
shares of preferred stock, $0.0001 par value.  As of the date hereof
(i) 210,000,000 shares of Premier Common Stock are issued and outstanding
(107,406,000 shares of which will be returned to treasury), (ii) no shares of
preferred stock are outstanding and (iii) no shares of the Premier Common Stock
or preferred stock currently are held by Premier in its treasury.  All
of said shares are fully paid and nonassessable and not subject to or issued in
violation of any purchase option, call option, right of first refusal,
preemptive right, subscription right or any similar right under any provision as
relating to Premier, the Business Corporation Act of the State of Florida, the
Premier Charter, the Premier Bylaws or any Contract to which Premier is a party
or otherwise bound.  As of the date of this Agreement, there are not
any options, warrants, rights, convertible or exchangeable securities, “phantom”
stock rights, stock appreciation rights, stock-based performance units,
commitments, Contracts, arrangements or undertakings of any kind.  The
shareholder list to be provided at closing to the Company shall be a current
shareholder list generated by its stock transfer agent, and such list shall
accurately reflect all of the issued and outstanding shares of Premier’s Common
Stock.

       

      
        
          
          

        

        
          12

          
            

          

        

        
          
          

        

      

        

      SECTION
4.04. Authority;
Execution and Delivery; Enforceability.  The execution and
delivery by Premier of this Agreement and the consummation by Premier of the
Transactions have been duly authorized and approved by the Board of Directors of
Premier, and no other corporate proceedings on the part of Premier is necessary
to authorize this Agreement and the Transactions.  This Agreement
constitutes a legal, valid and binding obligation of the Selling Parties,
enforceable against them in accordance with the terms hereof.

       

      SECTION
4.05. No
Conflicts; Consents.

       

      (a)         The
execution and delivery by Premier of this Agreement, does not, and the
consummation of the Transactions and compliance with the terms hereof and
thereof will not, conflict with, or result in any violation of or default (with
or without notice or lapse of time, or both) under, or give rise to a right of
termination, cancellation or acceleration of any obligation or to loss of a
material benefit under, or to increased, additional, accelerated or guaranteed
rights or entitlements of any person under, or result in the creation of any
Lien upon any of the properties or assets of Premier under, any provision of (i)
Premier Charter, Premier Bylaws, (ii) any Material Contract to which Premier is
a party or by which any of its properties or assets is bound or (iii) subject to
the filings and other matters referred to in Section
4.05(b), any material Judgment or material Law applicable to Premier’s
properties or assets, other than, in the case of clauses (ii) and (iii) above,
any such items that, individually or in the aggregate, have not had and would
not reasonably be expected to have a Premier Material Adverse
Effect.

        

      (b)         No
Consent of, or registration, declaration or filing with, or permit from, any
Governmental Entity is required to be obtained or made by or with Premier in
connection with the execution, delivery and performance of this Agreement or the
consummation of the Transactions, other than the (A) filing with the SEC of
reports under Sections 13 of the Exchange Act, and (B) filings under state “blue
sky” laws, as may be required in connection with this Agreement and the
Transactions.

       

      SECTION
4.06. SEC
Documents; Undisclosed Liabilities.

       

      (a)         Premier
has filed all reports, schedules, forms, statements and other documents required
to be filed by Premier with the SEC since its organization pursuant to Sections
13(a), 14 (a) and 15(d) of the Exchange Act (the “Premier
SEC
Documents”).

       

      (b)         As
of its respective filing date, each Premier SEC Document complied in all
material respects with the requirements of the Exchange Act and the rules and
regulations of the SEC promulgated thereunder applicable to such Premier SEC
Document, and did not contain any untrue statement of a material fact or omit to
state a material fact required to be stated therein or necessary in order to
make the statements therein, in light of the circumstances under which they were
made, not misleading.  Except to the extent that information contained
in any Premier SEC Document has been revised or superseded by a later filed
Premier SEC Document, none of the Premier SEC Documents contains any untrue
statement of a material fact or omits to state any material fact required to be
stated therein or necessary in order to make the statements therein, in light of
the circumstances under which they were made, not misleading. The financial
statements of Premier included in the Premier SEC Documents comply as to form in
all material respects with applicable accounting requirements and the published
rules and regulations of the SEC with respect thereto, have been prepared in
accordance with the U.S. generally accepted accounting principals (“GAAP”)
(except, in the case of unaudited statements, as permitted by the rules and
regulations of the SEC) applied on a consistent basis during the periods
involved (except as may be indicated in the notes thereto) and fairly present
the financial position of Premier as of the dates thereof and the results of its
operations and cash flows for the periods shown (subject, in the case of
unaudited statements, to normal year-end audit adjustments).

       

      
        
          
          

        

        
          13

          
            

          

        

        
          
          

        

      

        

      (c)         Except
as set forth in the Premier SEC Documents, Premier has no liabilities or
obligations of any nature (whether accrued, absolute, contingent or otherwise)
required by GAAP to be set forth on a balance sheet of Premier or in the notes
thereto.

       

      (d)         Since
the date of the latest audited financial statements included within the Premier
SEC Documents, except as specifically disclosed in the Premier SEC Documents,
Premier has not changed its auditors and Premier does not have pending before
the SEC any request for confidential treatment of information.

      

      SECTION
4.07. Brokers.  No
broker, finder, investment banker or other person is or will be, in connection
with the transactions contemplated by this Agreement, entitled to any brokerage,
finder’s or other fee or compensation based on any arrangement or agreement made
by or on behalf of Premier and for which Auxerre or the Company will have any
obligation or liability.  Premier shall indemnify and hold Auxerre and
the Company harmless from any and all claims, liabilities, damages, costs and
expenses asserted against them by any person claiming to have acted on behalf of
Premier, or to have been retained by Premier as a broker in connection with the
transaction contemplated by this Agreement.

      

      SECTION
4.08. Absence of
Certain Changes or Events.  Except as disclosed in the Premier
SEC Documents, from the date of the most recent audited financial statements
included in the Premier SEC Documents to the date of this Agreement, Premier,
conducted its business only in the ordinary course, and during such period there
has not been:

       

      (a)         any
change in the assets, liabilities, financial condition or operating results of
Premier from that reflected in the Premier SEC Documents, except changes in the
ordinary course of business that have not caused, in the aggregate, a Material
Adverse Effect;

       

      (b)         any
damage, destruction or loss, whether or not covered by insurance, that would
have a Premier Material Adverse Effect;

       

      (c)         any
waiver or compromise by Premier of a valuable right or of a material debt owed
to it;

       

      (d)         any
satisfaction or discharge of any lien, claim, or encumbrance or payment of any
obligation by Premier, except in the ordinary course of business and the
satisfaction or discharge of which would not have a Premier Material Adverse
Effect;

       

      (e)         any
material change to a material Contract by which Premier or any of its assets is
bound or subject;

       

      (f)         any
material change in any compensation arrangement or agreement with any employee,
officer, director or stockholder;

       

      (g)         any
resignation or termination of employment of any officer of Premier;

       

      (h)         any
mortgage, pledge, transfer of a security interest in, or lien, created by
Premier, with respect to any of its material properties or assets, except liens
for taxes not yet due or payable and liens that arise in the ordinary course of
business and do not materially impair Premier ownership or use of such property
or assets;

       

      
        
          
          

        

        
          14

          
            

          

        

        
          
          

        

      

       

      (i)         any
loans or guarantees made by Premier to or for the benefit of its employees,
officers or directors, or any members of their immediate families, other than
travel advances and other advances made in the ordinary course of its
business;

       

      (j)         any
declaration, setting aside or payment or other distribution in respect of any of
Premier capital stock, or any direct or indirect redemption, purchase, or other
acquisition of any of such stock by Premier;

       

      (k)         any
alteration of Premier method of accounting or the identity of its
auditors;

       

      (l)         any
issuance of equity securities to any officer, director or affiliate;
or

       

      (m)                   any
arrangement or commitment by Premier to do any of the things described in this
Section
4.08.

       

      SECTION
4.09. Taxes.

       

      (a)         Premier
has timely filed, or has caused to be timely filed on its behalf, all Tax
Returns required to be filed by it, and all such Tax Returns are true, complete
and accurate, except to the extent any failure to file or any inaccuracies in
any filed Tax Returns, individually or in the aggregate, have not had and would
not reasonably be expected to have a Premier Material Adverse
Effect.  All Taxes shown to be due on such Tax Returns, or otherwise
owed, has been timely paid, except to the extent that any failure to pay,
individually or in the aggregate, has not had and would not reasonably be
expected to have a Premier Material Adverse Effect.

       

      (b)         The
most recent financial statements contained in the Premier SEC Documents reflect
an adequate reserve for all Taxes payable by Premier (in addition to any reserve
for deferred Taxes to reflect timing differences between book and Tax items) for
all Taxable periods and portions thereof through the date of such financial
statements.  No deficiency with respect to any Taxes has been
proposed, asserted or assessed against Premier, and no requests for waivers of
the time to assess any such Taxes are pending, except to the extent any such
deficiency or request for waiver, individually or in the aggregate, has not had
and would not reasonably be expected to have a Premier Material Adverse
Effect.

        

      (c)         There
are no Liens for Taxes (other than for current Taxes not yet due and payable) on
the assets of Premier.  Premier is not bound by any agreement with
respect to Taxes.

       

      SECTION
4.10. Absence of
Changes in Benefit Plans.  From the date of the most recent
audited financial statements included in the Premier SEC Documents to the date
of this Agreement, there has not been any adoption or amendment in any material
respect by Premier of any collective bargaining agreement or any bonus, pension,
profit sharing, deferred compensation, incentive compensation, stock ownership,
stock purchase, stock option, phantom stock, retirement, vacation, severance,
disability, death benefit, hospitalization, medical or other plan, arrangement
or understanding (whether or not legally binding) providing benefits to any
current or former employee, officer or director of Premier (collectively, “Premier
Benefit
Plans”).  As of the date of this Agreement there are not any
employment, consulting, indemnification, severance or termination agreements or
arrangements between Premier and any current or former employee, officer or
director of Premier, nor does Premier have any general severance plan or
policy.

       

      SECTION
4.11. ERISA
Compliance; Excess Parachute Payments.  Premier has, and since
its inception has never had, maintained, or contributed to any “employee pension
benefit plans” (as defined in Section 3(2) of ERISA), “employee welfare benefit
plans” (as defined in Section 3(1) of ERISA) or any other Premier Benefit Plan
for the benefit of any current or former employees, consultants, officers or
directors of Premier.

       

      
        
          
          

        

        
          15

          
            

          

        

        
          
          

        

      

       

      SECTION
4.12. Litigation.  Except
as disclosed in the Premier SEC Documents, there is no Action which (i)
adversely affects or challenges the legality, validity or enforceability of any
of this Agreement or the Shares or (ii) could, if there were an unfavorable
decision, individually or in the aggregate, have or reasonably be expected to
result in a Premier Material Adverse Effect.  There has not been, and
to the knowledge of Premier, there is not pending any investigation by the SEC
involving Premier or any current or former director or officer of Premier (in
his or her capacity as such).  The SEC has not issued any stop order
or other order suspending the effectiveness of any registration statement filed
by Premier under the Exchange Act or the Securities Act. Neither Premier nor any
subsidiary, nor any director or officer thereof (in his or her capacity as
such), is or has been the subject of any Action involving a claim or violation
of or liability under federal or state securities laws or a claim of breach of
fiduciary duty.

       

      SECTION
4.13. Compliance
with Applicable Laws.  Except as disclosed in the Premier SEC
Documents, Premier is in compliance with all applicable Laws, including those
relating to occupational health and safety and the environment, except for
instances of noncompliance that, individually and in the aggregate, have not had
and would not reasonably be expected to have a Premier Material Adverse Effect.
Except as set forth in the Premier SEC Documents, Premier has not received any
written communication during the past two years from a Governmental Entity that
alleges that such Company is not in compliance in any material respect with any
applicable Law.  Premier is in compliance with all effective
requirements of the Sarbanes-Oxley Act of 2002, as amended, and the rules and
regulations thereunder, that are applicable to it, except where such
noncompliance could not have or reasonably be expected to result in a Premier
Material Adverse Effect.  This Section
4.13 does not relate to matters with respect to Taxes, which are the
subject of Section
4.09.

        

      SECTION
4.14. Contracts.  Except
as disclosed in the Premier SEC Documents, there are no Contracts that are
material to the business, properties, assets, condition (financial or
otherwise), results of operations or prospects of Premier.  Premier is
not in violation of or in default under (nor does there exist any condition
which upon the passage of time or the giving of notice would cause such a
violation of or default under) any Contract to which it is a party or by which
it or any of its properties or assets is bound, except for violations or
defaults that would not, individually or in the aggregate, reasonably be
expected to result in a Premier Material Adverse Effect.

       

      SECTION
4.15. Title to
Properties.  Premier has good title to, or valid leasehold
interests in, all of its properties and assets used in the conduct of its
businesses.  All such assets and properties, other than assets and
properties in which Premier has leasehold interests, are free and clear of all
Liens except for Liens that, in the aggregate, do not and will not materially
interfere with the ability of Premier to conduct business as currently
conducted.  Premier has complied in all material respects with the
terms of all material leases to which it is a party and under which it is in
occupancy, and all such leases are in full force and effect.  Premier
enjoys peaceful and undisturbed possession under all such material
leases.

       

      SECTION
4.16. Intellectual
Property.  Premier owns, or is validly licensed or otherwise
has the right to use, all Intellectual Property Rights which are material to the
conduct of its business taken as a whole.  No claims are pending or,
to the knowledge of Premier, threatened that Premier is infringing or otherwise
adversely affecting the rights of any person with regard to any Intellectual
Property Right.  To the knowledge of Premier, no person is infringing
the rights of Premier with respect to any Intellectual Property
Right.

       

      
        
          
          

        

        
          16

          
            

          

        

        
          
          

        

      

       

      SECTION
4.17.Labor
Matters.  There are no collective bargaining or other labor
union agreements to which Premier is a party or by which it is
bound.  No material labor dispute exists or, to the knowledge of
Premier, is imminent with respect to any of the employees of
Premier.

        

      SECTION
4.18. Transactions With Affiliates
and Employees.  Except as set forth in the Premier SEC
Documents, none of the officers or directors of Premier and, to the knowledge of
Premier, none of the employees of Premier is presently a party to any
transaction with Premier (other than for services as employees, officers and
directors), including any contract, agreement or other arrangement providing for
the furnishing of services to or by, providing for rental of real or personal
property to or from, or otherwise requiring payments to or from any officer,
director or such employee or, to the knowledge of Premier, any entity in which
any officer, director, or any such employee has a substantial interest or is an
officer, director, trustee or partner.

       

      SECTION
4.19. Internal
Accounting Controls.  Premier maintains a system of internal
accounting controls sufficient to provide reasonable assurance that (i)
transactions are executed in accordance with management's general or specific
authorizations, (ii) transactions are recorded as necessary to permit
preparation of financial statements in conformity with generally accepted
accounting principles as applied in the United States and to maintain asset
accountability, (iii) access to assets is permitted only in accordance with
management's general or specific authorization, and (iv) the recorded
accountability for assets is compared with the existing assets at reasonable
intervals and appropriate action is taken with respect to any differences.
Premier has established disclosure controls and procedures and designed such
disclosure controls and procedures to ensure that material information is made
known to its officers.  Premier’s officers have evaluated the
effectiveness of the controls and procedures.  Since December 31,
2007, there have been no significant changes in the internal controls or, to
Premier’s knowledge, in other factors that could significantly affect the
internal controls.

       

      SECTION
4.20. Intentionally left
blank.

       

      SECTION
4.21. Application
of Takeover Protections.  Premier has taken all necessary
action, if any, in order to render inapplicable any control share acquisition,
business combination, poison pill (including any distribution under a rights
agreement) or other similar anti-takeover provision under the Premier charter
documents or the laws of its state of incorporation that is or could become
applicable to the Stockholders as a result of the Stockholders and Premier
fulfilling their obligations or exercising their rights under this Agreement,
including, without limitation, the issuance of the Shares to Premier and
his  ownership of the Shares.

        

      SECTION
4.22. No
Additional Agreements.  Premier does not have any agreement or
understanding with Auxerre with respect to the transactions contemplated by this
Agreement other than as specified in this Agreement.

       

      SECTION
4.23. Investment
Company.  Premier is not, and is not an affiliate of, and
immediately following the Closing will not have become, an “investment company”
within the meaning of the Investment Company Act of 1940, as
amended.

       

      
        
          
          

        

        
          17

          
            

          

        

        
          
          

        

      

       

      SECTION
4.24. Disclosure.  All
disclosure provided to Auxerre and the Company regarding Premier, its business
and the transactions contemplated hereby, furnished by or on behalf of Premier
(including the their representations and warranties set forth in this Agreement)
are true and correct and do not contain any untrue statement of a material fact
or omit to state any material fact necessary in order to make the statements
made therein, in light of the circumstances under which they were made, not
misleading.

       

      SECTION
4.25. Certain
Registration Matters.  Except as specified in Premier SEC
Documents, Premier has not granted or agreed to grant to any person any rights
(including “piggy-back” registration rights) to have any securities of Premier
registered with the SEC or any other governmental authority that have not been
satisfied.

       

      SECTION
4.26. Listing and
Maintenance Requirements.  Premier is, and has no reason to
believe that it will not in the foreseeable future continue to be, in compliance
with the listing and maintenance requirements for continued listing of the
Premier Stock on the Over-The-Counter Bulletin Board (“OTCBB”).  The
issuance and sale of the Shares under this Agreement does not contravene the
rules and regulations of the trading market on which Premier Stock is currently
eligible for listing or trading.

       

      SECTION
4.27. No Undisclosed
Events, Liabilities, Developments or Circumstances.  No event,
liability, development or circumstance has occurred or exists, or is
contemplated to occur with respect to Premier or its business, properties,
prospects, operations or financial condition, that would be required to be
disclosed by Premier under applicable securities laws on a registration
statement on Form SB-2 filed with the SEC relating to an issuance and sale by
Premier of its Common Stock and which has not been publicly announced will not
be publicly announced in the current report on Form 8-K that will be filed by
Premier at the Closing.

       

      SECTION
4.28. Foreign Corrupt
Practices.  To Premier’s knowledge, any director, officer,
agent, employee or other person acting on behalf of Premier has, in the course
of its actions for, or on behalf of, Premier (i) used any corporate funds for
any unlawful contribution, gift, entertainment or other unlawful expenses
relating to political activity; (ii) made any direct or indirect unlawful
payment to any foreign or domestic government official or employee from
corporate funds; (iii) violated or is in violation of any provision of the U.S.
Foreign Corrupt Practices Act of 1977, as amended; or (iv) made any unlawful
bribe, rebate, payoff, influence payment, kickback or other unlawful payment to
any foreign or domestic government official or employee.

      

      ARTICLE
V

      

      Deliveries

       

      SECTION
5.01. Deliveries
of Auxerre.

       

      (a)         Concurrently
herewith Auxerre is delivering to Premier this Agreement executed by each of
them.

       

      
        
          
          

        

        
          18

          
            

          

        

        
          
          

        

      

       

      (b)         At
or prior to the Closing, Auxerre shall deliver to Premier:

       

      (i)           certificates
representing its Company Stock;

       

      (ii)           duly
executed stock powers for transfer by Auxerre of its Company Stock to Premier;
and

      

      (iii)           such
other information and documents as Premier or its counsel may require, in each
of their sole discretion, to establish an exemption from registration
requirements of the Securities Act.

       

      SECTION
5.02. Deliveries
of Premier.

       

      (a)         Concurrently
herewith, Premier is delivering to Auxerre and the Company a copy of this
Agreement executed by Premier;

        

      (b)         At
or prior to the Closing, Premier shall deliver:

       

      (i)           to
the Company, a letter of resignation of each of the executive officers and
directors of Premier from all offices that they hold with Premier;

      

      (ii)           to
the Company, certificates from Premier, signed by its Secretary or Assistant
Secretary certifying that the attached copies of the Premier Charter, Premier
Bylaws and resolutions of the Board of Directors of Premier approving the
Agreement and the Transactions, are all true, complete and correct and remain in
full force and effect.

      

      (iii)           to
the Company, evidence of the election of up to (a) five persons to Premier’s
Board of Directors as shall be designated in writing by the Company and (b) two
persons to Premier’s Board of Directors as shall be designated in writing by
Premier.

       

      (iv)           to
the Company, such pay-off letters and releases relating to liabilities as the
Company shall request and such pay-off letters and releases shall be in form and
substance satisfactory to the Company;

       

      (v)           to
the Company, originals or certified copies of all existing corporate records,
accounting books and records (including without limitation, journals, schedules,
work papers, breakdowns, software records), lists of bank accounts and
signatories thereon, locations of safe deposit boxes with a list of signatories,
the name, address, contact numbers and contact persons of Premier’s current
independent auditors and controller and chief financial officer, and all other
administrative and financial documentation, files, records of
Premier;

       

      (c)         Certificates
representing 107,406,000 shares of common stock of Premier and evidence
reflecting the return to treasury of 107,406,000 shares of common stock
previously outstanding.

       

      
        
          
          

        

        
          19

          
            

          

        

        
          
          

        

      

       

      SECTION
5.03. Deliveries
of the Company.

       

      (a)         Concurrently
herewith, the Company is delivering to Premier this Agreement executed by the
Company.

        

      (b)           At
or prior to the Closing, the Company shall deliver a certificate from the
Company, signed by its authorized officer certifying and attaching copies of the
Company’s Constituent Instruments and resolutions of the Board of Directors of
the Company approving the Agreement and the Transactions are all true, complete
and correct and remain in full force and effect.

      

      ARTICLE
VI

      

      Conditions to
Closing

      

      SECTION
6.01.  Company and Auxerre
Conditions Precedent.  The obligations of the Company and
Auxerre to enter into and complete the Closing is subject, at the option of the
Company and Auxerre, to the fulfillment on or prior to the Closing Date of the
following conditions.

       

      (a)  Representations and
Covenants.  The representations and warranties of Premier
contained in this Agreement shall be true in all material respects on and as of
the Closing Date with the same force and effect as though made on and as of the
Closing Date.  Premier shall have performed and complied in all
material respects with all covenants and agreements required by this Agreement
to be performed or complied with by such parties on or prior to the Closing
Date.  Premier shall have delivered to the Company and Auxerre a
certificate, dated the Closing Date, to the foregoing effect.

       

      (b)  Litigation.  No
action, suit or proceeding shall have been instituted before any court or
governmental or regulatory body or instituted or threatened by any governmental
or regulatory body to restrain, modify or prevent the carrying out of the
Transactions or to seek damages or a discovery order in connection with such
Transactions, or which has or may have, in the reasonable opinion of the
Company, a materially adverse effect on the assets, properties, business,
operations or condition (financial or otherwise) of the Company.

       

      (c)  No Material Adverse
Change.  There shall not have been any occurrence, event,
incident, action, failure to act, or transaction since December 31, 2007 which
has had or is reasonably likely to cause a Premier Material Adverse
Effect.

        

      (d)  Post-Closing
Capitalization.  At, and immediately after, the Closing, the
authorized capitalization, and the number of issued and outstanding shares of
the capital stock of Premier, on a fully-diluted basis, as indicated on a
schedule to be delivered by the Parties at or prior to the Closing, shall be
acceptable to the Company and Auxerre in their sole and absolute
discretion.

       

      
        
          
          

        

        
          20

          
            

          

        

        
          
          

        

      

       

      (e)  SEC
Reports.  Premier shall have filed all reports and other
documents required to be filed by Premier under the U.S. federal securities laws
through the Closing Date.

       

      (f)  OTCBB
Quotation.  Premier shall have maintained its status as a
Company whose common stock is eligible for quotation or listing on the
Over-the-Counter Bulletin Board and no reason shall exist as to why such status
shall not continue immediately following the Closing.

       

      (g)  Deliveries.  The
deliveries specified in Section 5.02 shall
have been made by Premier.

       

      (h)  No Suspensions of Trading in
Premier_Stock.  Trading
in Premier Stock shall not have been suspended by the SEC or any trading market
(except for any suspensions of trading of not more than one trading day solely
to permit dissemination of material information regarding the Company) at any
time since the date of execution of this Agreement, and Premier Stock shall have
been at all times since such date quoted for trading on a trading
market.

       

      (i)  Satisfactory Completion of
Due Diligence.  The Company and Auxerre shall have completed
their legal, accounting and business due diligence of Premier, and the results
thereof shall be satisfactory to the Company and Auxerre in their sole and
absolute discretion.

       

      SECTION
6.02.  Premier Conditions
Precedent.  The obligations of Premier to enter into and
complete the Closing is subject, at the option of Premier, to the fulfillment on
or prior to the Closing Date of the following conditions, any one or more of
which may be waived by Premier in writing.

       

      (a)  Representations and
Covenants.  The representations and warranties of the Company
and Auxerre contained in this Agreement shall be true in all material respects
on and as of the Closing Date with the same force and effect as though made on
and as of the Closing Date.  The Company and Auxerre shall have
performed and complied in all material respects with all covenants and
agreements required by this Agreement to be performed or complied with by the
Company and Auxerre on or prior to the Closing Date.  The Company and
Auxerre, shall have delivered to Premier a certificate, dated the Closing Date,
to the foregoing effect.

       

      (b)  Litigation.  No
action, suit or proceeding shall have been instituted before any court or
governmental or regulatory body or instituted or threatened by any governmental
or regulatory body to restrain, modify or prevent the carrying out of the
Transactions or to seek damages or a discovery order in connection with such
Transactions, or which has or may have, in the reasonable opinion of Premier, a
materially adverse effect on the assets, properties, business, operations or
condition (financial or otherwise) of the Company.

       

      (c)  No Material Adverse
Change.  There shall not have been any occurrence, event,
incident, action, failure to act, or transaction since December 31, 2007 which
has had or is reasonably likely to cause a Company Material Adverse
Effect.

       

      (d)  Deliveries.  The
deliveries specified in Section 5.01, Section 5.03 and 5.04 shall have been made
by Auxerre and the Company, respectively.

       

      
        
          
          

        

        
          21

          
            

          

        

        
          
          

        

      

       

      (e)  Satisfactory Completion of
Due Diligence.  Premier shall have completed its legal,
accounting and business due diligence of the Company and Auxerre, and the
results thereof shall be satisfactory to Premier in its sole and absolute
discretion.

       

      ARTICLE
VII

      

      Covenants

      

      SECTION
7.01.  
Public Announcements.  Premier, Auxerre and the Company will
consult with each other before issuing, and provide each other the opportunity
to review and comment upon, any press release or other public statements with
respect to the Agreement and the Transactions and shall not issue any such press
release or make any such public statement prior to such consultation, except as
may be required by applicable Law, court process or by obligations pursuant to
any listing agreement with any national securities exchange.

       

      SECTION
7.02.  Fees
and Expenses.  All fees and expenses incurred in connection
with this Agreement shall be paid by the Party incurring such fees or expenses,
whether or not this Agreement is consummated.

       

      SECTION
7.03.  Continued Efforts.
Each Party shall use commercially reasonable efforts to (a) take all action
reasonably necessary to consummate the Transactions, and (b) take such
steps and do such acts as may be necessary to keep all of its representations
and warranties true and correct as of the Closing Date with the same effect as
if the same had been made, and this Agreement had been dated, as of the Closing
Date.

        

      SECTION
7.04.  Exclusivity.  Neither
Auxerre nor the Company shall (i) solicit, initiate, or encourage the submission
of any proposal or offer from any person relating to the acquisition of any
capital stock or other voting securities of the Company, or any assets of the
Company (including any acquisition structured as a merger, consolidation, share
exchange or other business combination), (ii) participate in any discussions or
negotiations regarding, furnish any information with respect to, assist or
participate in, or facilitate in any other manner any effort or attempt by any
person to do or seek any of the foregoing, or (iii) take any other action that
is inconsistent with the Transactions and that has the effect of avoiding the
Closing contemplated hereby.  Auxerre or the Company shall notify
Premier immediately if any person makes any proposal, offer, inquiry, or contact
with respect to any of the foregoing.

       

      SECTION
7.05.  Filing of 8-K and Press
Release.  Premier shall file, as soon as is practicable after
the Closing Date, a current report on Form 8-K and attach as exhibits all
relevant agreements with the SEC, as soon as is practicable disclosing the terms
of this Agreement and other requisite disclosure regarding the Transactions and
including the requisite audited consolidated financial statements of the
Company.  In addition, Premier shall issue a press release prior to
9:30 a.m. (New York Time) on the business day following the Closing Date,
announcing the closing of the transaction.

       

      
        
          
          

        

        
          22

          
            

          

        

        
          
          

        

      

       

      SECTION
7.06.  Access.  Each
Party shall permit representatives of each other Party to have full access to
all premises, properties, personnel, books, records (including Tax records),
contracts, and documents of or pertaining to such Party.

       

      SECTION
7.07.  Preservation of
Business.  From the date of this Agreement until the Closing
Date, each of the Company and Premier shall operate only in the ordinary and
usual course of business consistent with past practice, and shall use reasonable
commercial efforts to (a) preserve intact its respective business organization,
(b) preserve the good will and advantageous relationships with customers,
suppliers, independent contractors, employees and other Persons material to the
operation of its respective business, and (c) not permit any action or omission
which would cause any of its respective representations or warranties contained
herein to become inaccurate or any of its respective covenants to be breached in
any material respect.

       

      SECTION
7.08.  Cancellation of Certain
Shares.  A total of 107,406,000 shares of Premier Common Stock,
in the aggregate, held by ZRV Consulting shall have been cancelled.

      

      ARTICLE
VIII

      

      Indemnification

       

      SECTION
8.01.  General Indemnification
Provision.  Each of Premier, Auxerre and the Company (each an
“Indemnifying
Party”) shall indemnify, defend and hold the other Party, its affiliates,
officers, directors, partners (general and limited), employees, agents,
attorneys successors and assigns (each an “Indemnified
Party”) harmless from and against all Losses incurred or suffered by a
Indemnified Party as a result of the breach of any  of the respective
Indemnifying Parties representations, warranties, covenants or agreements made
by the respective Indemnifying Parties in this Agreement.

       

      SECTION
8.02.  Indemnification
Principles.  For purposes of this Article VIII, “Losses”
shall mean each and all of the following items: claims, losses (including,
without limitation, losses of earnings), liabilities, obligations, payments,
damages (actual, punitive or consequential), charges, judgments, fines,
penalties, amounts paid in settlement, costs and expenses (including, without
limitation, interest which may be imposed in connection therewith, costs and
expenses of investigation, actions, suits, proceedings, demands, assessments and
reasonable fees, expenses and disbursements of counsel, consultants and other
experts).

       

      SECTION
8.03.  Claim
Notice; Right to Defend.  An Indemnified Party shall promptly
upon becoming aware of the facts indicating that a claim for indemnification may
be warranted, give to the Indemnifying Party a claim notice relating to such
Loss (a “Claim
Notice”).  Each Claim Notice shall specify the nature of the
claim and, if possible, the amount or the estimated amount thereof. No failure
or delay in giving a Claim Notice and no failure to include any specific
information relating to the claim (such as the amount or estimated amount
thereof) shall affect the obligation of the Indemnifying Party unless such
failure materially and adversely prejudices the Indemnifying
Party.  If such Loss relates to the commencement of any action or
proceeding by a third person, the Indemnified Party shall give a Claim Notice to
the Indemnifying Party regarding such action or proceeding and the Indemnifying
Party shall be entitled to participate therein to assume the defense thereof
with counsel reasonably satisfactory to the Indemnified Party.  After
the delivery of notice from the Indemnifying Party to the Indemnified Party of
its election to assume the defense of such action or proceeding, the
Indemnifying Party shall not be liable (except to the extent the proviso to this
sentence is applicable, in which event it will be so liable) to the Indemnified
Party under this Article VIII for any legal or other expenses subsequently
incurred by the Indemnified Party in connection with the defense thereof other
than reasonable costs of investigation, provided that each
Indemnified Party shall have the right to employ separate counsel to represent
it and assume its defense (in which case, the Indemnifying Party shall not
represent it) if (i) upon the advice of counsel, the representation of both
parties by the same counsel would be inappropriate due to actual or potential
differing interests between them, (ii) in the event the Indemnifying Party has
not assumed the defense thereof within 10 days of receipt of notice of such
claim or commencement of action, and in which case the fees and expenses of one
such separate counsel shall be paid by the Indemnifying Party or (iii) if such
Indemnified Party who is a defendant in any action or proceeding which is also
brought against the Indemnifying Party reasonably shall have concluded that
there may be one or more legal defenses available to such Indemnified Party
which are not available to the Indemnifying Party.  If the
Indemnifying Party so assumes the defense thereof, it may not agree to any
settlement of any such claim or action as the result of which any remedy or
relief, other than monetary damages for which the Indemnifying Party shall be
responsible hereunder, shall be applied to or against the Indemnified Party,
without the prior written consent of the Indemnified Party.  In any
action hereunder as to which the Indemnifying Party has assumed the defense
thereof with counsel reasonably satisfactory to the Indemnified Party, the
Indemnified Party shall continue to be entitled to participate in the defense
thereof, with counsel of its own choice, but, except as set forth above, the
Indemnifying Party shall not be obligated hereunder to reimburse the Indemnified
Party for the costs thereof.

       

      
        
          
          

        

        
          23

          
            

          

        

        
          
          

        

      

      

      ARTICLE
IX

      

      Miscellaneous

      

      SECTION
9.01.  Notices.  All
notices, requests, claims, demands and other communications under this Agreement
shall be in writing and shall be deemed given upon receipt by the Parties at the
following addresses (or at such other address for a Party as shall be specified
by like notice):

       

      If to
Auxerre Trading Ltd., to:

      

      Reg.# 537 804

      13, rue du Marché

      1204 Geneva

      Switzerland

      

      Copy:

      

      Akara Bldg., De Castro
Street,

      Wickhams Cay 1

      Road Town, Tortola,

      British
Virgin Islands

      

      If to the
Company, to:

       

      Karbon,
CJSC

      Reg.# 1025601035558

      32, Belyaevskaya str.

      Orenburg, Russian Federation
460027

      

      Copy:

      

      55, Lusinovskaya str.

      Moscow, Russian Federation
115093.

      

      If to
Premier Energy Corp, to:

      

      14785 Preston Road, Suite
550

      Dallas, TX  75254

       

      With a copy to:

      

      Law Offices of Stephen M. Fleming
PLLC

      403
Merrick Avenue, 2nd
Floor

      East Meadow, New York
11554

      Facsimile: 516-977-1209

      

      SECTION 9.02.  Amendments; Waivers; No
Additional Consideration.  No provision of this Agreement may
be waived or amended except in a written instrument signed by the Company,
Auxerre and Premier.  No waiver of any default with respect to any
provision, condition or requirement of this Agreement shall be deemed to be a
continuing waiver in the future or a waiver of any subsequent default or a
waiver of any other provision, condition or requirement hereof, nor shall any
delay or omission of either Party to exercise any right hereunder in any manner
impair the exercise of any such right.  No consideration shall be
offered or paid to any Party to amend or consent to a waiver or modification of
any provision of any transaction document unless the same consideration is also
offered and paid to all Stockholders who then hold Shares (or are entitled to
receive Shares hereunder).

       

      
        
          
          

        

        
          24

          
            

          

        

        
          
          

        

      

       

      SECTION
9.03.  Termination.

       

      (a)  Termination of
Agreement.  The Parties may terminate this Agreement as
provided below:

       

      (i)  All
of the parties may terminate this Agreement by mutual written consent at any
time prior to the Closing;

       

      (ii)  Premier
may terminate this Agreement by giving written notice to the Company, and
Auxerres at any time prior to the Closing (A) in the event the Company or
Auxerre have breached any material representation, warranty, or covenant
contained in this Agreement in any material respect, Premier has notified the
Company and Auxerre of the breach, and the breach has continued without cure for
a period of twenty days after the notice of breach, or (B) if the Closing shall
not have occurred on or before 60 days after the date of this Agreement by
reason of the failure of any condition precedent under Section
6.02 hereof (unless the failure results primarily from Premier itself
breaching any representation, warranty, or covenant contained in this
Agreement); and

       

      (iii)  The
Company or Auxerre may terminate this Agreement by giving written notice to
Premier at any time prior to the Closing (A) in the event Premier has breached
any material representation, warranty, or covenant contained in this Agreement
in any material respect, the Company or Auxerre has notified Premier of the
breach, and the breach has continued without cure for a period of twenty days
after the notice of breach or (B) if the Closing shall not have occurred on or
before 60 days after the date of this Agreement, by reason of the failure of any
condition precedent under Section
6.01 hereof (unless the failure results primarily from the Company, or
Auxerre themselves breaching any representation, warranty, or covenant contained
in this Agreement).

        

      (b)  Effect of
Termination.  If any Party terminates this Agreement pursuant
to Section
8.03(a) above, all rights and obligations of the Parties hereunder shall
terminate without any Liability of any Party to any other Party.

       

      SECTION
9.04.  Replacement of
Securities.  If any certificate or instrument evidencing any
Shares is mutilated, lost, stolen or destroyed, Premier shall issue or cause to
be issued in exchange and substitution for and upon cancellation thereof, or in
lieu of and substitution therefor, a new certificate or instrument, but only
upon receipt of evidence reasonably satisfactory to Premier of such loss, theft
or destruction and customary and reasonable indemnity, if
requested.  The applicants for a new certificate or instrument under
such circumstances shall also pay any reasonable third-party costs associated
with the issuance of such replacement Shares.  If a replacement
certificate or instrument evidencing any Shares is requested due to a mutilation
thereof, Premier may require delivery of such mutilated certificate or
instrument as a condition precedent to any issuance of a
replacement.

       

      SECTION
9.05.  Remedies.  In
addition to being entitled to exercise all rights provided herein or granted by
law, including recovery of damages, each of Premier, Auxerre and the Company
will be entitled to specific performance under this Agreement. The Parties agree
that monetary damages may not be adequate compensation for any loss incurred by
reason of any breach of obligations described in the foregoing sentence and
hereby agrees to waive in any action for specific performance of any such
obligation the defense that a remedy at law would be adequate.

       

      
        
          
          

        

        
          25

          
            

          

        

        
          
          

        

      

       

      SECTION
9.06.  Interpretation.  When
a reference is made in this Agreement to a Section, such reference shall be to a
Section of this Agreement unless otherwise indicated. Whenever the words
“include”, “includes” or “including” are used in this Agreement, they shall be
deemed to be followed by the words “without limitation”.

       

      SECTION
9.07.  Severability.  If
any term or other provision of this Agreement is invalid, illegal or incapable
of being enforced by any rule or Law, or public policy, all other conditions and
provisions of this Agreement shall nevertheless remain in full force and effect
so long as the economic or legal substance of the Transactions contemplated
hereby is not affected in any manner materially adverse to any Party. Upon such
determination that any term or other provision is invalid, illegal or incapable
of being enforced, the Parties shall negotiate in good faith to modify this
Agreement so as to effect the original intent of the Parties as closely as
possible in an acceptable manner to the end that Transactions contemplated
hereby are fulfilled to the extent possible.

       

      SECTION
9.08.  Counterparts; Facsimile
Execution.  This Agreement may be executed in one or more
counterparts, all of which shall be considered one and the same agreement and
shall become effective when one or more counterparts have been signed by each of
the Parties and delivered to the other Parties. Facsimile execution and delivery
of this Agreement is legal, valid and binding for all purposes.

       

      SECTION
9.09.  Entire Agreement; Third
Party Beneficiaries.  This Agreement, taken together with the
Company Disclosure Schedule and Premier Disclosure Schedule, (a) constitute the
entire agreement, and supersede all prior agreements and understandings, both
written and oral, among the Parties with respect to the Transactions and (b) are
not intended to confer upon any person other than the Parties any rights or
remedies.

       

      SECTION
9.12.  Governing
Law.  This Agreement shall be governed by, and construed in
accordance with, the laws of the State of New York, regardless of the laws that
might otherwise govern under applicable principles of conflicts of laws
thereof.  ALL PARTIES HEREBY SUBMITS TO THE EXCLUSIVE JURISDICTION OF
THE UNITED STATES FEDERAL COURTS LOCATED IN NEW YORK, NEW YORK WITH RESPECT TO
ANY DISPUTE ARISING UNDER THIS AGREEMENT. ALL PARTIES IRREVOCABLY WAIVE THE
DEFENSE OF AN INCONVENIENT FORUM TO THE MAINTENANCE OF SUCH SUIT OR
PROCEEDING.  ALL PARTIES FURTHER AGREE THAT SERVICE OF PROCESS UPON A
PARTY MAILED BY FIRST CLASS MAIL SHALL BE DEEMED IN EVERY RESPECT EFFECTIVE
SERVICE OF PROCESS UPON THE PARTY IN ANY SUCH SUIT OR
PROCEEDING.  NOTHING HEREIN SHALL AFFECT EITHER PARTY’S RIGHT TO SERVE
PROCESS IN ANY OTHER MANNER PERMITTED BY LAW.  BOTH PARTIES AGREE THAT
A FINAL NON-APPEALABLE JUDGMENT IN ANY SUCH SUIT OR PROCEEDING SHALL BE
CONCLUSIVE AND MAY BE ENFORCED IN OTHER JURISDICTIONS BY SUIT ON SUCH JUDGMENT
OR IN ANY OTHER LAWFUL MANNER.  THE PARTY WHICH DOES NOT PREVAIL IN
ANY DISPUTE ARISING UNDER THIS NOTE SHALL BE RESPONSIBLE FOR ALL FEES AND
EXPENSES, INCLUDING ATTORNEYS’ FEES, INCURRED BY THE PREVAILING PARTY IN
CONNECTION WITH SUCH DISPUTE.

       

      
        
          
          

        

        
          26

          
            

          

        

        
          
          

        

      

       

      SECTION
9.13.  Assignment.  Neither
this Agreement nor any of the rights, interests or obligations under this
Agreement shall be assigned, in whole or in part, by operation of law or
otherwise by any of the Parties without the prior written consent of the other
Parties. Any purported assignment without such consent shall be void. Subject to
the preceding sentences, this Agreement will be binding upon, inure to the
benefit of, and be enforceable by, the Parties and their respective successors
and assigns.

      

      [The
Remainder of Page Intentionally Kept Blank]

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

      
        
          
          

        

        
          27

          
            

          

        

        
          
          

        

      

      

      The
Parties hereto have executed and delivered this Share Exchange Agreement as of
the date first above written.

       

       

      
        	 	PREMIER ENERGY
      CORP.	 
	 	 	 	 
	
                 

              	
                By:
      

              	/s/ Anton
      Prodanovic	 
	 	 	Name: Anton
      Prodanovic	 
	 	 	Title: CEO	 
	 	 	 	 

      

    

     

    
      
        	 	KARBON,
      CJSC	 
	 	 	 	 
	 	
                By:
      

              	/s/ O.
      Eranun	 
	 	 	Name: O. Eranun	 
	 	 	Title:
      Director	 
	 	 	 	 

      

    

     

    
      
        
          	 	AUXERRE TRADING
      LTD.	 
	 	 	 	 
	 	
                  By:
      

                	/s/ L.
      Enilina	 
	 	 	Name: L. Enilina	 
	 	 	Title: Director	 
	 	 	 	 

        

      

       

       

      
        
          
          

        

        
          28

          
            

          

        

        
          
          

        

      

       

      Company
Disclosure Schedule

      

      None

      

      Premier
Disclosure Schedule

      

      None

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

      29

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00152-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00152-of-00352.parquet"}]]