Document:

ableenergy_10q-ex1027.htm

     

    Exhibit
10.27

     

     

    CREDIT
CASH, LLC

    PURCHASE
AGREEMENT NO.07

    

    This
Purchase Agreement ("Agreement") is made and entered into as of the
16th day of July 2007
by and among CREDIT CASH, LLC, a
Delaware limited liability company with an office located at 505
Park Ave., 6th Floor,
New York, NY 10022 (the "Company") and ALL AMERICAN PLAZAS, INC. a
Pennsylvania company with an office located at 1181 Harrisburg Pike, Carlisle,
PA 17013 (the "Merchant").

     

    PURCHASE
AND SALE OF FUTURE RECEIVABLES

    
    

     

    
      	Purchase Price: 	$400,000.00; 
	Collection
    Amount: 	The Purchase Price,
      plus 2%
      fee (i.e., $8,000), plus
      interest calculated at the Interest Rate, plus Costs and
      Expenses 

    

     

    The
Company purchases from the Merchant, and the Merchant hereby sells, assigns and
transfers to the Company, effective upon payment by the Company to the Merchant
of the Purchase Price specified above, all of Merchant's interest in each of its
future credit card receivables arising from the sale of goods to customers
located in the United States (the "Future Receivables") due to Merchant from its credit
card processor (together with any
successor, the "Processor"), Merchant (i) agrees to enter into
an agreement with Processor acceptable to the Company to obtain credit and
processing services (the "Processor Agreement") and (ii) hereby authorizes
Processor, through the execution of Irrevocable Payment Instructions, to pay to
the Company all of the cash attributable to the Merchant under the Processor
Agreement; provided, however, that the
Company agrees to remit to Merchant, 85% of the cash received from the Processor
and the Company may retain 15% (the "Payment Percentage") of the of the cash received from
the Processor to be applied to the Collection Amount until the cash payments
applied by the Company equal to the Collection Amount; provided, further, that if the
Company, in its reasonable judgment, deems that it is insecure at any time in
the timely payment of the Collection Amount on the basis of the then current
Payment Percentage, regardless of
whether an Event of Default has occurred, Merchant agrees that the
Company may increase the Payment Percentage from time to time to assure timely
payment of the Collection Amount by retaining a greater percentage of the cash
received from the Processor. Notwithstanding the foregoing, Merchant shall, at
all times, be jointly and severally be liable for the repayment of all of the
obligations hereunder and under any other agreement between the Company and any
Merchant. Merchant represents that it has good and marketable title to the
Future Receivables, free and clear of all liens and encumbrances, other than any
security interest granted to the Processor and any financial institution ("Bank") pursuant to the Processor Agreement.
Merchant shall be responsible to Processor and the Bank for all credit card
transactions returned to Processor and Bank for any reason, and the Company
shall not be obligated to return any portion (or all) of the Collection Amount
received by the Company to any person or entity, including, without limitation,
Processor or Bank.

     

    
      
        
        

      

      
        Page 1 of
7

        
          

        

      

      
        
        

      

    

     

    Interest
shall be charged to Merchant by the Company at the per annum rate equal to the
highest prime rate (the "Prime Rate") in effect during each month as
generally reported by Citibank, N.A. plus 3.75% (the "Interest Rate"), but the Interest Rate shall never
be less than 12% nor more than 24% per annum or the maximum permitted by law.
The Interest Rate shall be calculated based on a three hundred sixty (360) day
year for the actual number of days elapsed and shall be charged to Merchant on
the daily balance of all outstanding obligations.

    

    In
computing interest on the obligations of Merchant to the Company, all checks,
wire transfers and other items of payment received by the Company (including
payment of the obligations in full) shall be deemed applied by the Company on
the day such payment is received or, if received after 2pm New York, NY time,
the next business day. However, the Company shall be entitled to charge the
Merchant's account one (1) business day of "clearance" or "float" at the
Interest Rate set forth above, on all checks, wire transfers and other items
received by the Company, regardless of whether such one (1) business day of
clearance or float actually occur, and such charge shall be deemed to be the
equivalent of charging one (1) business day of interest on such payments and/or
collections. The one (1) business day clearance or float charge on all payments
and collections is acknowledged by the parties to constitute an integral aspect
of the pricing of the Company's financing to Merchant. The Company shall not,
however, be required to credit Merchant's account for the amount of any item of
payment which is unsatisfactory to the Company, in the Company's reasonable
business discretion, and the Company may charge Merchant's loan account for the
amount of any item of payment which is returned to the Company
unpaid.

    

    In no
event shall the Interest Rate exceed the highest rate permitted under any
applicable law or regulation. If any part or provision of this Agreement is in
contravention of any such law or regulation, such part or provision shall be
deemed amended to conform thereto, and any payments of interest made in excess
of such highest rate permitted, if any, shall be deemed to be payments of
principal obligations, to the extent of such excess.

    

    This
Agreement is in addition to and supplements all previous Purchase Agreements,
between Merchant and Credit Cash, LLC, each of which remains valid and
effective. Merchant hereby confirms that the balance of all outstanding loans
made to Merchant, as of July 16, 2007, amounts to $1,010,932.50, plus accrued
interest.

    

    The
Merchant understands and agrees that all loans and advances by the Company to
Merchant under this Agreement, all other Purchase Agreements, and any other
related agreements, constitute one loan, and all indebtedness and obligations of
Merchant to the Company under this Agreement and all other Purchase Agreements,
and related agreements, present and future, constitute one general obligation
secured by the Collateral and security held and to be held by the Company
hereunder and by virtue of all other agreements between Merchant (and all
guarantors) and the Company now and hereafter existing. It is distinctly
understood and agreed that all of the rights of the Company contained in this
Agreement shall likewise apply insofar as applicable to any modification of or
supplement to this Agreement and to any other agreements, present and future,
between the Company and Merchant.

     

    
      
        
        

      

      
        Page 2 of
7

        
          

        

      

      
        
        

      

    

     

    The
parties hereby agree to the additional terms set forth below including, but not
limited to, covenants to operate the Merchant's business in the ordinary course
and prohibiting changes in credit card processors or arrangements and diversions
of the Merchant's credit card transactions to another processor or to another
credit card network or association.

     

    1.    Representations and Warranties of Merchant. Merchant
represents and warrants to the Company as follows: (a) all of the information
provided by the Merchant to the Company pursuant to this Agreement and otherwise
is true, correct and complete in all respects; (b) Merchant has full power and
authority to enter into this Agreement and to perform the transactions
contemplated hereby; (c)
if an
entity, (i) Merchant is duly incorporated/formed/organized, validly existing and
in good standing under the laws of the jurisdiction of its
incorporation/formation/organization, and (ii) Merchant has full
corporate/partnership/limited liability company power and authority to enter
into this Agreement and perform the transactions contemplated hereby; (d)
Merchant is duly qualified to do business in each jurisdiction in which it
conducts its business; (e) this Agreement is the legal and valid obligation of
Merchant, enforceable against Merchant in accordance with its terms; (f)
Merchant is solvent, has not made an assignment for the benefit of creditors or
filed in any court, pursuant to any statute of the United States or any state, a
petition for bankruptcy or insolvency, or filed for reorganization or for the
appointment of a receiver or trustee of all or a material portion of its
property, and Merchant does not have reason to believe any involuntary
bankruptcy action or order will be filed with respect to Merchant; (g) all
amounts are due with respect to all Future Receivables are due in United States
Dollars; (h) any taxes or fees relating to the Future Receivables or goods or
services sold by Merchant are solely Merchant's responsibility; and (i) the
historical credit card receivable data provided by Merchant to the Company does
not represent sales to any subsidiary, affiliate or parent company.

    

    2.    Covenants of
Merchant. Merchant hereby covenants and agrees as follows: (a) to conduct
its business and use the Purchase Price in the ordinary course of business
consistent with past practice; (b) to exclusively use the Processor to process
all of its credit card transactions; (c) not to take any action to discourage
the use of credit cards or to permit any event to occur which could have an
adverse effect on the use, acceptance or authorization of credit cards for the
purchase of Merchant's services and products; (d) not
to change its arrangements with Processor without the prior written consent of
the Company; (e) not to permit any event to occur that could cause a diversion
of any of Merchant's credit card transactions to another credit card processor
or to another credit card network or association; (f) to comply with all of the
terms and conditions imposed by the Processor and/or Bank, including, without
limitation, pursuant to the Processor Agreement; (g) to provide the Company with
at least 10 days' prior written notice of any event which would cause any of the
information provided by Merchant to the Company in this Agreement, in the
Merchant Information Sheet or otherwise to be untrue, incorrect or incomplete in
any respect; (h) not to grant any lien on or security interest in, or sell,
assign transfer, pledge or otherwise dispose of, any Future Receivables; (i) to
comply with all laws, rules and regulations applicable to Merchant; and (j) not
to sell, assign, assign, transfer, pledge or otherwise dispose of all or a
substantial portion of its
business or assets. In addition, Merchant covenants and agrees that each
Future Receivable will (i) be based upon a bona fide sale and delivery of
inventory or rendition of services made by Merchant in the ordinary course of
business and (ii) represent a payment obligation for goods or services accepted
by Merchant's customer of which such customer is obligated to pay the full
amount without dispute, claim, offset, defense, deduction, rejection,
recoupment, counterclaim or contra account.

    

    3.    Credit
Investigation. Merchant hereby
authorizes the Company and its agents and employees to investigate any
references or any other statements of data provided by the Merchant or obtained
from or about the Merchant for purposes of this Agreement.

    

    4.    Security Interests. As
security for the prompt performance, observance and payment in full of all
obligations of Merchant to Company hereunder and under any and all other
agreements between Merchant and Company, Merchant hereby pledges, assigns,
transfers and grants to Company a first priority security interest in, and
continuing lien upon, and right of setoff against, all of Merchant's
Accounts,
including but not limited to, Accounts arising from Merchant's sales that are,
or will be paid by the use of credit cards or charge cards, debit cards or other
types of bank cards, whether now existing or hereafter created or acquired and
wherever located (defined herein as Future Receivables), and the contract

     

    
      
        
        

      

      
        Page 3 of
7

        
          

        

      

      
        
        

      

    

     

    rights,
general intangibles and Proceeds thereof all of Merchant's interest in all
Processor Agreements and all of Merchant's rights to the Proceeds and payments
due to Merchant under all Processor Agreements; Merchant's interest in all
Deposit Accounts, all whether now existing or hereafter arising or created and
wherever located, and all Proceeds (including cash and non-cash proceeds) of any
and all of the foregoing; all or Merchant's books, Records and all other
evidences of the foregoing; and all renewals, substitutions and
replacements of any
and all of the foregoing. In addition to the foregoing, Merchant also
grants to the Company, a first priority security interest in, and continuing
lien upon, and right of setoff against, all of the assets of every kind and
nature of Merchant, in each case, whether now owned or existing or hereafter
created, acquired or arising and wherever located, including but not limited to,
the following assets: (a) Accounts, contract rights and the proceeds thereof;
(b) Chattel Paper, including Electronic Chattel Paper and tangible Chattel
Paper; (c) General Intangibles, including but not limited to patents, trademarks
and tradenames and the goodwill and inherent value associated therewith, lax
refunds, customer lists, insurance claims and goodwill of Merchant; (e)
Instruments; (f) Proceeds, including Cash Proceeds and Non-Cash Proceeds, and
proceeds of any insurance policies covering any of the Collateral; (g)
Promissory Notes; (h) Records, including all books, records and other property
at any time evidencing or relating to any of the foregoing, and all electronic
means of storing such Records; (i) to the extent not otherwise included above,
all collateral support and Supporting Obligations relating to any of the
foregoing; and (j) to the extent not otherwise included above, all Proceeds,
products, accessions, rents and profits of or in respect of any of the
foregoing. All capitalized terms in this description that are not otherwise
defined shall have the meanings given to them under the Uniform Commercial Code
as adopted by the State of New York (the "UCC") and this Agreement shall
constitute a security agreement under the UCC. Merchant hereby authorizes the
Company to file such financing statements as the Company deems necessary to
perfect the security interest granted by Merchant herein.

    

    5.    Termination. This
Agreement shall terminate upon the indefeasible payment in full of the
Collection Amount by the Merchant to the Company.

     

    6.    Events of Default.
The occurrence of any of the following actions shall constitute an "Event of Default" hereunder:
(a) if Merchant shall fail to pay the Company any amounts owing to the Company
upon demand by the Company, (b) Merchant makes any assignment for the benefit of
creditors, or a proceeding is commenced by or against Merchant under any
bankruptcy, insolvency or similar law seeking an order to adjudicate Merchant
bankrupt or insolvent or other relief with respect to Merchant's debts or
seeking appointment of a receiver or similar official for Merchant or any
substantial part of Merchant's assets; (c) Merchant becomes insolvent or admits
in writing its inability to pay its debts as they become due; (d) Merchant
breaches any covenant and/or agreement set forth herein; or (e) any
representation or warranty of Merchant shall have been false or misleading when
made or at any time during the term of this Agreement.

     

    7.    Remedies. Upon the
occurrence of an Event of Default, the Company shall be entitled to exercise all
rights available to it at law or in equity. In addition, upon the occurrence of
an Event of Default, or if the Company believes itself insecure for any reason,
including without limitation, the Future Receivables are less than Merchant's
historical credit card receivables, the Company shall have the right, upon
written notice to Merchant and the Processor, to unilaterally increase the
Payment Percentage. Merchant hereby expressly authorizes the Processor to pay
any increased Payment Percentage of Future Receivables to the Company upon
receipt of such written notice. Furthermore, alter the occurrence of an Event of
Default which is not waived by the Company, the Company shall have all of the
rights and remedies of a secured party under Article 9 of the Uniform Commercial
Code with respect to any other property or collateral in which the Company has a
security interest. If notice of intended disposition of any such property or
collateral is required by law, it is agreed that five days notice constitutes
reasonable notice. The net cash proceeds resulting from the exercise of any of
the foregoing rights, after deducting all charges, costs and expenses (including
reasonable attorneys' fees) will be applied by the Company to the payment of the
unpaid Collection Amount and any other fees or amounts
due from Merchant to the Company, in such order as the Company may elect.
Merchant remains liable to the Company for any deficiencies.

     

    
      
        
        

      

      
        Page 4 of
7

        
          

        

      

      
        
        

      

    

     

    8.    Indemnification.
Merchant hereby agrees to jointly and severally indemnify, defend and hold
harmless the Company and its members, managers, officers, employees and agents
from and against any damage, claim, liability, costs and expenses (including,
without limitation, reasonable attorneys' fees) incurred in connection with this
Agreement. This Section 8 shall survive the termination of this
Agreement.

     

    9.    Miscellaneous,

     

    (a)    This
Agreement, and all attendant documentation, as the same may be amended from time
to time, constitutes the entire agreement among the parties with regard to the
subject matter hereof, and supersedes any prior agreements or understandings.
This Agreement can be changed only by a writing signed by all parties. The
failure or delay of the Company in exercising any right hereunder will not
constitute a waiver thereof or bar the Company from exercising any of its rights
at any time.

     

    (b)    This
Agreement shall be governed and construed in accordance with the laws of the
State of New York, without regard to conflict of law provisions. The parties
agree to submit to the jurisdiction of the New York state courts or any federal
court sitting in the state of New York in the event of any dispute hereunder.
To the extent permitted by applicable law, each party hereby waives any
right to a trial by jury
in any action or
proceeding arising directly or indirectly out of this Agreement or any other agreement or transaction among the
parties.

     

    (c)    This
Agreement binds and benefits each party and their respective successors, heirs
and assigns, provided, however, that
Merchant may not assign this Agreement or any rights hereunder without the prior
written consent of the Company.

     

    (d)    If any
provision of this Agreement is contrary to, prohibited by, or deemed invalid
under applicable laws or regulations, such provision will be inapplicable and
deemed omitted to such extent, but the remainder will not be invalidated thereby
and will be given effect so far as possible. Section headings are for
convenience only and are not controlling.

     

    (e)    Any
notice or other communication hereunder shall be made in writing and deemed
given (i) three days after being deposited in the U.S. mail, first class,
postage prepaid, or (ii) when delivered by a nationally recognized overnight
courier which provides
confirmation of delivery, addressed to the Company at 505 Park Avenue, 6th
Floor, New York, NY 10022, or to Merchant at the address set forth in the
Merchant Information Sheet. Any party may change its address to which notice is
sent hereunder by providing written notice to the other parties in accordance
herewith.

     

    (f)    The
Company may examine the books and records of Merchant relating to the Future
Receivables at any time during the term of this Agreement.

    

    10.   (a)    "Costs and Expenses"
shall include, but not be limited to commissions, fees, internal and external
field examination expenses for routine and non-routine audits and field
examinations, filing, recording and search expenses, reasonable internal and
external attorney's fees and disbursements (as may be incurred with respect to
the effectuation of this Agreement or any claim of any nature or litigation
whatsoever arising out of or as a result of the interpretation of this Agreement
or the financing provided for hereunder, including, but not limited to, all fees
and expenses for the service and filing of papers, premiums on bonds and
undertakings, fees of marshals, sheriffs, custodians, auctioneers and others,
travel expenses and all court costs and collection charges), postage, wire
transfer fees in the amount of $50.00 for each wire transfer initiated by
Company and/or for Company's services in wiring, certifying or transferring
funds; check dishonor fees and other internal and/or external fees, costs and
expenses arising out of or relating to the negotiations, preparation,
consummation, administration and enforcement of this Agreement or any other
agreement between Merchant and Company including, but not limited to any
guaranty of the obligations of Merchant.

     

    (b)    In addition
to the foregoing, Merchant shall be charged a one-time set up fee of
$N/A.

    

    11.   Disbursing Agent. It is
hereby acknowledged that the Company may receive from the Processor cash
attributable to Merchant and one or more of Merchant's affiliates or
subsidiaries or in a name other than Merchant that Merchant uses as tradename,
fictitious name, assumed name or other designation (collectively referred to
herein as "Tradenames"). Merchant
expressly authorizes the Company to receive all such cash on behalf of Merchant
and to retain the Payment Percentage for credit against the Merchant's
obligations under 

     

    
      
        
        

      

      
        Page 5 of
7

        
          

        

      

      
        
        

      

    

     

    this
Agreement. Merchant hereby represents and warrants to the Company that Merchant
has been appointed
as the "Disbursing Agent" for all of Merchant's affiliates,
subsidiaries and Tradename entities and that it is in the best interest and
convenience of the Merchant that all loans and advances made by the Company
pursuant to this Agreement be made only to the Merchant, for itself and as
Disbursing Agent. Accordingly, the Merchant shall be the sole entity entitled to
receive the funds advanced by the Company under this Agreement and the Merchant
shall make disbursements to its affiliates, subsidiaries and Tradename entities
in Merchant's discretion. All of the monies received by the Company will be
credited by the Company to the Merchant's account and the Company shall remit
all monies pursuant to this Agreement and the Irrevocable Payment Instructions
only to the Merchant. The Merchant, for itself and as Disbursing Agent, hereby
irrevocably waives any claim it may have against the Company and hereby
indemnifies and holds the Company harmless from and against all damages, losses,
claims, demands, liabilities, obligations, actions and causes of action
whatsoever which Merchant or any of Merchant's affiliates, subsidiary or
Tradename entities may have against the Company which may arise as a result of
the Company remitting all monies under this Agreement solely to the Merchant,
for itself and as Disbursing Agent, and/or the Payment Percentage being credited
by the
Company solely the Disbursing Agent's account with the Company.

     

    12.   Charges to Merchant's
Account. All fees, interest, commissions, charges, Costs and Expenses
incurred with or in respect of this Agreement, or any supplement or amendment
hereto (all of which shall be cumulative and not exclusive) shall be charged to
Merchant's account as maintained by Company. In furtherance thereof, Merchant
hereby authorizes Company to charge the Merchant's account maintained by
Company: (a) all Costs and Expenses and (b) alt fees, interest and other charges
provided in this Agreement and further authorizes the Company to pay all such
charges by deducting the amounts from the Purchase Price and/or from the
Merchant's portion of the cash proceeds received by the Company from the
Processor that would otherwise remitted to Merchant.

     

    13.   The
Company shall render to Merchant a monthly statement of its account which
statement shall be deemed correct, accepted by, and conclusively binding upon
Merchant as an account stated, except to the extent that Merchant shall deliver
to the Company written notice of any specific exceptions thereto within twenty
(20) days after the date such statement is rendered.

     

    The
undersigned, for good and valuable consideration, the receipt and sufficiency of
which are hereby acknowledged, have executed this Agreement as
of the latest date set forth below, intending to be legally
bound.

     

    This
Agreement may be executed in any number of counterparts (whether facsimile or
original), each of which shall be deemed an original as to the party whose
signature appears thereon and all of which together shall constitute one and the
same instrument. An executed facsimile of this Agreement shall be deemed a valid
and binding agreement between the parties hereto.

     

    
      	CREDIT CASH,
      LLC 	ALL AMERICAN PLAZAS,
      INC. 
	 	 
	 	 
	By:      /s/ Dean
      Landis              
                          
       	By:      /s/ Richard A.
      Mitstifer                            
      
	Name: Dean
      Landis 	Name: Richard A.
      Mitstifer 
	Title:
      President 	Title:
      President 

    

     

    notary
page follows

     

    
      
        
        

      

      
        Page 6 of
7

        
          

        

      

      
        
        

      

    

     

     

    STATE OF
NEW
YORK             
)

                                                            
)ss.: 

    COUNTY OF
NEW
YORK          )

    

    On this
16th day of July
2007 before me personally appeared Dean Landis personally known
to me or proved to me on the basis of satisfactory evidence
to be the individual whose name is subscribed to the within instrument and
acknowledged to me that he/she is the Managing Member and president of CREDIT
CASH, LLC, the company herein described and that he/she executed the same in
his/her capacity as an officer of said company, and that he/she signed the
instrument by order of the members of said company.

     

     

    
      	 	
              /s/
      James
      Ricchiuti                
                              
      

            
	 	NOTARY
    PUBLIC
	 	 
	 	
              JAMES
      RICCHIUTI

              Notary
      Public - State of New
      York

              No.
      02R16123649

              Qualified
      in Westchester County.

              Commission
      Expires March 7,
  2009 

            

    

     

     

    STATE OF PA                            
)

                                                           
)ss.: 

    COUNTY OF Berks                )

     

    On
this 16th day of July 2007
before me personally appeared Richard Mitstifer, personally
known to me or proved to me on the basis of satisfactory evidence to be the
individual whose name is subscribed to the within instrument and acknowledged to
me that he/she is the President of ALL AMERICAN PLAZAS, INC., the corporation
herein described and that he/she executed the same in his/her capacity as an
officer of said corporation, and that he/she signed the instrument by order of
the board of directors of said corporation.

     

    
      
        	 	
                /s/ Catherina
      M.
      Galena                                   
      

              
	 	NOTARY
    PUBLIC
	 	 
	 	
                COMMONWEALTH
      OF PENNSYLVANIA

                Notarial
      Seal

                Catherina
      M. Galena, Notary Public

                Bethel
      Twp., Becks County

                My
      Commission Expires
      Nov.
      22, 2008

                Member,
      Pennsylvania
      Associatlon Of
Notaries

              

      

       

    

    
 

    Page 7 of
7ableenergy_10q-ex1028.htm

     

    Exhibit
10.28

     

    Services
Agreement

     

    This
Services Agreement ("Agreement") is
entered into this 27th day
of August, 2007 between PriceEnergy.com,
Inc. ("PE"), A Delaware corporation
having its offices at 198 Green Pond Rd., Rockaway,
NJ, 07866
and Axis Consulting
Services, LLC,
a
Delaware Limited
Liability Corporation
located at 4
Pine
Grove
Terrace, Winooski, VT 05404 ("Consultant"), and collectively being referred
to as the "Parties" or
individually as a "Party".

     

    Recitals:

     

    
      
        	
                  A.   

              	
                Whereas, PE is a
      marketer of liquid energy products and other related energy products and
      services ("Products").

              

      

    

     

    
      
        	
                  B.   

              	
                Whereas,
      PE owns and operates a proprietary e-commerce technology platform that
      facilitates the sale
      and fulfillment of Products ("System").

              

      

    

     

    
      
        	
                  C.   

              	
                Whereas, PE, with
      the use of the System,
      manages the delivery
      of Products to PE's residential
      and commercial customers, which includes consumers who purchase
      directly from PE, as well as consumers who use the PE System
      to purchase from a PE
      retail
      channel partner,
      collectively
      referred
      to as
"Customers".

              

      

    

     

    
      
        	
                  D.  

              	
                Whereas, PE
      maintains a network of independent fuel distributors and other
      companies whom under agreement with PE, provide services to PE and/or
      Customers.

              

      

    

     

    
      
        	
                  E.   

              	
                Whereas,
      Consult t has certain knowledge, experience and skills that are desirable
      to PE and the Parties
      have determined it is desirable to enter into an
      agreement to
      secure the services of
Consultant.

              

      

    

     

     

    
      Therefore,
in
consideration of the respective covenants contained in the Agreement, the
parties agree as follows:

    

     

    
      
        	
                1.   

              	
                Term. Unless earlier terminated in accordance with Section 8, this agreement will include two
      phases.

              

      

    

     

    
      	
                    a.  

            	
              Phase
      1:
      Development and
      approval
      of a comprehensive
      marketing
      plan
      for
      The
      Energy Store, as further described in paragraph
      2, such development is expected to require an approximate
      half time commitment of a Full
      Time
      Equivalent ("FTE"), and a duration of two or
      three
      months commencing on or about August 27, 2007,
  and

            

    

    
       

      
        	
                      b.  

              	
                Phase
      2: Development, merchandising and management of The
      Energy
      Store, as
      further described
      in
      paragraph 2.
      The term
      of this phase
      will commence
      at the conclusion of Phase 1
      and
      extend until
      December 31, 2008 and is expected to require the minimum
      commitment
      of one FTE. At the end of the term, the Agreement will automatically
      terminate, unless extended in writing by agreement of the
      Parties.

              

      

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      
        	
                2.     

              	
                Obligations of Consultant. During the
      term of the Agreement, Consultant will serve as Manager of The
      Energy Store, an e-commerce retail sales portal for energy
      products and services, the scope and responsibilities and services as
      further described in the PE position description for
      Manager-The Energy
      Store, such position description is attached for
      reference.

              

      

    

     

    
      
        	
                3.     

              	
                Relationship of the Parties. The
      relationship of the Consultant with PE shall be that of an independent
      contractor and not an employee. Consultant shall be free from the control
      of
      PE
      with
      respect to Consultant's performance of the services as outlined in
      Section 2. Neither Party shall have the authority to contract for or bind
      the other Party in any manner and shall not represent itself as an agent
      of the other or as otherwise authorized to act for or on behalf of the
      other.

              

      

    

     

    
      
        	
                4.     

              	
                Fees. Consultant shall be paid a monthly
      fee of $2,750 for Phase 1 and a monthly fee of $5,600 for Phase
      2. PE and Consultant shall have the option, but not the obligation, to
      establish a performance based
      incentive plan based
      upon the achievement
      of
      performance
      objectives,
      as
      mutually
      agreed to by
      the Parties. Consultant shall invoice PE at the beginning of each calendar
      month. Payment is to be
      made by PE within thirty (30) days of invoice
      date.

              

      

    

     

    
      
        	
                5.    

              	
                Expenses. PE will reimburse Consultant
      for all reasonable, direct, out-of-pocket business travel expenses
      incurred while performing services as outlined in Agreement, including
      lodging, meals, mileage, tolls and parking. Such expenses shall not apply
      to travel expenses incurred for travel to PE
  headquarters.

              

      

    

     

    
      
        	
                6.    

              	
                Confidential Information. During the term
      of this Agreement, Consultant may be given access to confidential,
      proprietary, or other sensitive information or trade secrets of PE
      ("Confidential Information"). Consultant agrees to treat all Confidential
      Information as described in PE's standard Nondisclosure Agreement, such
      Nondisclosure Agreement is attached for reference and must be executed
      by
      Consultant in order for this Agreement to be
      effective.

              

      

    

     

    
      
        	
                7.    

              	
                Intellectual Property. All data,
      materials, software, intellectual property, processes, patents, copyrights
      and other information developed in conjunction with the performance of
      this Agreement shall be the property of PE. Upon termination of this
      Agreement, Consultant shall deliver to PE, without demand, all materials,
      data, software, intellectual property, manuals, books, reports and
      summaries developed and used in the performance of this
      Agreement.

              

      

    

     

    
      	
              8.            
        

            	
              Default. In the event that Consultant
      fails to satisfy its obligations under this Agreement, PE, using
      reasonable judgment,
      can terminate
      this
      Agreement upon 30
      days
      written notice, such decision in the sole discretion of
      PE.

            

    

     

    
      
        	
                9.            
      

              	
                Severability. If any provision of this
      Agreement is held to be invalid or unenforceable, the remaining provisions
      of this Agreement will remain in full
  force.

              

      

    

     

    
      
        	
                10.          
      

              	
                Entire Agreement. This Agreement, in
      combination with PE's Nondisclosure Agreement, constitutes the complete
      agreement between the Parties and that no other agreements, either written
      or oral, exist between the Parties.
      This Agreement shall
      be governed by the laws of the state of New
      Jersey.

              

      

    

     

    In
witness whereof, the Parties have caused their authorized
representatives
to execute this
Agreement effective
as of the date written above.

     

    
      
        	PriceEnergy.com,
      Inc. 	AXIS
      CONSULTING SERVICES, LLC 
	 	 
	By:            /s/ John
      Vrabel   
                                  	By:            /s/ Joseph
      Nocito                          
      
	 	 
	Name:       John
      Vrabel    
                                       	Name:       Joseph
      Nocito                                
      
	 	 
	Title:         C.O.O.                                               	Title:         President

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00149-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00149-of-00352.parquet"}]]