Document:

helix_8k-ex1001.htm

    Exhibit
10.1

     

     

    
      HELIX
WIND, CORP.

      1848
Commercial Street

      San
Diego, California 92113

      

      June 24,
2009

      

      

      Strictly
Confidential

      

      
        Venco
Power GmbH

      

      
        Luisenburgweg
29

      

      
        Doehlau
Germany

      

      

      
        	
                 
      

              	
                Re:

              	
                Letter of
      Intent

              

      

      

      Gentlemen:

      

      This
letter hereby sets forth our binding intent with respect to the proposed
acquisition (the “Transaction”) by a wholly-owned subsidiary of Helix Wind,
Corp., a Nevada corporation (“Helix”), of all the outstanding shares of Venco
Power GmbH, a German company (“Venco”), from the shareholders of Venco listed on
the signature page of this letter of intent (the “Venco Shareholders”) on the
terms and conditions set forth in this letter of intent.

      

      The proposed terms of the Transaction
are as follows:

      

      1.           Consideration.  The
total purchase price for the shares of Venco shall be 2,800,000 Euros assuming 1
Euro is equal/above $1.35 and below $1.40. Payment shall consist of thirty
three percent (33%) of the Purchase Price in cash EUROs and the balance in
shares of common stock of Helix. Depending on the value of 1 EUR versus the US
dollar (US$) then the purchase price shall be adjusted at closing according to
“Table N”. The purchase price shall be payable in to the three Venco
Shareholders on a pro rata basis based upon their respective percentages of
share ownership as follows:

      

      
        
          	
                	
                  (i) 

                	
                   (x)
      Of the Euros to be paid simultaneous with the consummation of the
      Transaction (the “Closing”), all debts shall be netted against the 33% of
      Purchase Price paid in Euros. The balance, if any, is to be paid by a
      2-year note (the “Note”) which shall be paid as follows: (y) One Half of
      the balance due in Euros on the 12-month anniversary of the Closing, and
      (z) the second one half of the balance on the 24-month anniversary of the
      Closing. Matthias Pfalz and Reinhard Caliebe shall, within the term of the
      Note, assist as reasonably necessary in the filing in Germany of the
      contemplated patents for the 50kw unit Vertikon 50, also known as D15000.
      The Note shall be secured by all the assets of Venco and shall become null
      and void if Matthias Pfalz, and Reinhard Caliebe fail to so assist and
      cooperate in the filing of the foregoing patent applications after
      reasonable notice and
request.

                

        

      

       

      Helix
will place in escrow 7.5% of gross sales of VENCO based turbines until the
amount of the 3rd
payment, as indicated in 1.(i)(z) above, is reached. The amount of such gross
sales will be held in escrow by the bank and will be paid out at the end of 24
months following the Closing when the final payment under the Note is
due.  The identity of the escrow agent and the bank for the deposit of
the gross sales shall be reasonably acceptable to the Venco
Shareholders.

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      
        Venco
Power GmbH

        Page 2 of
6

        

      The 2
payments due pursuant to the Note shall be adjusted based on the value of the
Euro on the payment date thereof as follows:

      

      ”Table
N”

      if 1 Euro
is below $1.19 then the deal value shall be deemed 3.00MM Euro and the cash
payment adjusted accordingly;

      if 1 Euro
is equal/above $1.20 and below $1.25 then the deal value shall be deemed
2.95MM Euro;

      if 1 Euro
is equal/above $1.25 and below $ 1.30 then the deal value shall be
2.90MM Euro;

      if 1 Euro
is equal/above $1.30 and below $1.35 then the deal value shall be2.85MM
Euro;

      if 1 Euro
is equal/above $1.35 and below $1.40 then the deal value shall be 2.80MM
Euro; and

      if 1 Euro
is equal/above $1.40 Deal value = 2.75MM EUR.

      

      The
12-month payment shall be reduced by the amount of any unpaid obligation of
Venco existing as of the date of the consummation of the Transaction if certain
representations to be specifically agreed upon in the Definitive Agreement
described below (undisclosed liabilities, legal issues, employee payments, tax
obligations, etc.) are breached, however if there are any liabilities not
scheduled by Venco at closing, such liabilities will reduce the payment
indicated in 1.(i)(y) above, up to a maximum defined at the Final Agreement
after audit of the Venco books. The 24-month payment shall be contingent on (a)
all manufacturing, trade secrets and other intellectual property rights of Venco
being transferred to Helix; (b) the non-financial support and assistance of
Matthias Pfalz and Michael Duwe, to the extent reasonably within their power and
control as consultants to Helix, in establishing a manufacturing facility either
in Germany, Thailand, China or the U.S and by a supplier, in the sole discretion
and at the sole cost of Helix; (c) Reinhard Caliebe and Andreas Görke having
committed no breach or default under the employment agreements as negotiated and
agreed upon which would cause such employment agreements not to be in full force
upon the date such payment is due; and (d) Matthias Pfalz and Michael Duwe
having committed no breach or default under the consulting agreements as
negotiated and agreed upon which would cause such consulting agreements not to
be in full force upon the date such payment is due.

      

      
        
          	
                	
                  (ii) 

                	
                   The
      number of shares of common stock of Helix (the “Shares”) to be issued to
      Venco shall be based on (y) 1,876,000  Euros times the weighted
      average conversion rate of the Euro 10 days prior to the date of Closing
      divided by (z) $2.00 (US).

                

        

      

      

      The
Shares shall be registered in the next registration statement filed by Helix in
August 2009 and shall be subject to a 2-year lock-up - during the first year no
sales or transfers of any Shares and during the second year after Closing can
sell no more than 8.5% of the total number of Shares per month.

      

      The Venco
Shareholders shall also be granted a put option to be exercised at any time
within 2 years after Closing to sell the Shares to Helix at $2.00 per Share,
provided, however, that during the
2nd
year after Closing if the volume weighted average for 90 days of the common
stock of Helix is $3 or more with no less than 50,000 shares per day, the put
shall expire. If by the end of the 2nd year
the put has not expired, the holder has the option, but not the obligation, to
put the Shares it still holds to Helix for $2 per Share.

       

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      Venco
Power GmbH

      Page 3 of
6

      
 

      2.           Definitive Agreement;
Closing.  Consummation of the Transaction as contemplated
hereby will be subject to the negotiation and execution of a mutually
satisfactory definitive share purchase agreement (the “Definitive Agreement”),
setting forth the specific terms and conditions of the
Transaction.  If the Definitive Agreement fails to be entered into by
the parties for any reason whatsoever, this letter of intent shall, except for
any provisions which expressly survive the termination of this letter of intent,
become null and void and of no further force or effect upon the exercise by
either of the parties hereto of the termination rights provided for in Section 6
of this letter of intent below.  The execution of the Definitive
Agreement by both parties is subject to approval by all the shareholders of
Venco and the respective board of directors of both companies and the completion
by Helix of a satisfactory review of the legal, financial and business condition
and prospects of Venco.  The parties will use their reasonable best
efforts to negotiate in good faith the Definitive Agreement, which will contain,
among other standard terms and conditions, representations, warranties,
covenants, indemnities and other provisions customary in transactions of this
nature, including without limitation, representations and warranties as to the
condition of the title held to the assets of Venco, the financial information of
Venco, the payment of taxes and contingent liabilities by Venco and arrangements
with the existing suppliers of Venco to manufacture the Venco products in
Germany at fixed COGS for at least 12-months after Closing. The fixed COGS shall
be as follows, subject to a maximum 10% variance for each item listed
below:

      

      D1: 2,625
EURO including minipole, brake and battery charger

      D361:
3,940 EURO including minipole and brake, no inverter

      D15000:
120,000 EURO including 35m tower and inverter (subject to modifications. Final
COGS for this platform due July 21). Different pricing options are being
developed for smaller Rated Capacity units.

      Crate for
D1: 90 EURO (150kg)

      Crate for
D361: 150 EURO (230 kg including weight of Windy Boy inverter)

      

      

      The
Closing shall occur when, among other conditions to be contained in the
Definitive Agreement, (a) 2 year employment agreements with Reinhard Caliebe and
Andreas Gorke are executed and delivered; (b) consulting agreements with
Matthias Pfalz and Michael Duwe containing non-compete provisions are executed
and delivered; (c) any necessary third-party consents shall be obtained prior to
consummation of the Transaction, including but not limited to any consents
required to be obtained from Venco lenders, creditors and vendors, (d) Helix
shall have consummated its capital raise in the minimum amount of $5,000,000,
(e) Helix shall be reasonably satisfied with the accounting treatment of the
Transaction for accounting and financial statement purposes, including without
limitation, the receipt of audited financial statements of Venco in accordance
with applicable rules of the Securities and Exchange Commission, and (f) the
Venco Shareholders shall be reasonably satisfied with the accounting treatment
of the Transaction for tax accounting purposes. The non-compete provisions which
are included in the employment agreements and the consulting agreements referred
to herein shall terminate and have no further force and effect if Helix either
files or is forced into bankruptcy.

      

      
        After the
Closing, all new obligations and liabilities of the business of Venco moving
forward shall, subject to the approval by Helix, be the responsibility and
obligation of Helix.

      

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      
        Venco
Power GmbH

        Page 4
of 6

         

        
 

      

      3.           Conduct of
Business.  Prior to the execution of a Definitive Agreement and
the closing of the Transaction, Venco will conduct its operations in the
ordinary course consistent with past practice and will not issue any capital
stock, warrants, options or other rights or commitments of any character to
subscribe for purchase from Venco, or obligate Venco to issue, any equity
interests of any class or any securities convertible into or exchangeable for
such interests, nor will Venco make any distributions, dividends or other
payments to any affiliate or shareholders.

      

      4.           Public
Announcements.  Neither Venco nor its officers, directors,
employees, shareholders, agents, representatives or affiliates will make any
public disclosure concerning the matters set forth in this letter of intent or
the negotiation of the proposed Transaction without the prior written consent of
Helix. Correspondingly, neither Helix nor its officers, directors, employees,
shareholders, agents, representatives or affiliates will make any public
disclosure concerning the matters set forth in this letter of intent or the
negotiation of the proposed Transaction without the prior written consent of the
Venco Shareholders. If and when such either such party desires to make such
public disclosure, after receiving such prior written consent from the
non-dsclosing party hereto, the disclosing party will give the non-disclosing
party an opportunity to review and comment on any such disclosure in advance of
its release.  Notwithstanding the above, to the extent that either
party is advised by counsel that disclosure of the matters set forth in this
letter of intent is required by applicable securities laws or to the extent that
such disclosure is ordered by a court of competent jurisdiction or is otherwise
required by law, then such disclosing party will provide the other party, if
reasonably possible under the circumstances, prior notice of such disclosure as
well as an opportunity to review and comment on such disclosure in advance of
the public release.

      

      5.           Exclusivity.  In
consideration hereof and the mutual covenants and agreements contained herein,
until the earlier of the closing of the Transaction or termination of this
letter of intent in accordance with its terms, Venco, its officers, directors,
employees, shareholders and other representatives will not, and will not permit
any of their respective affiliates to, directly or indirectly, solicit, discuss,
accept, approve, respond to or encourage (including by way of furnishing
information) any inquiries or proposals relating to, or engage in any
negotiations with any third party with respect to any transaction similar to the
Transaction or any transaction involving the transfer of a significant or
controlling interest in the assets or capital stock of Venco, including, but not
limited to, a merger, acquisition, strategic investment or similar transaction
(“Acquisition Proposal”). Venco and its officers or their respective affiliates
will immediately notify Helix of the receipt of any third party inquiry or
proposal relating to an Acquisition Proposal and will provide Helix with copies
of any such notice inquiry or proposal.

      

      6.           Termination.  This
letter of intent may be terminated by Helix or Venco at any time without cost or
liability if the Definitive Agreement is not executed within 90 days after the
execution and delivery of this letter for any reason whatsoever, including any
possible delay caused by required compliance with applicable antitrust
provisions.

      

      If there is no Closing, the obligations
and rights of the parties pursuant to the Distribution Agreement currently
existing between Helix and Venco shall remain in full force and effect in
accordance with the terms thereof and neither Helix nor Venco shall manufacture
any Venco or Helix products for its own account or make any use of any
technology, trade secrets or other intellectual property which either such party
has gained access to or become aware of as the result of the Transaction
contemplated hereunder.

      

      7.           No
Brokers.   Each party represents and warrants to the other
that there are no brokers or finders entitled to any compensation with respect
to the execution of this letter of intent, and each agrees to indemnify and hold
the other harmless from and against any expenses or damages incurred as a result
of a breach of this representation and warranty.

       

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      Venco
Power GmbH

      Page 5 of
6

      
 

      8.           Expenses.  Each
of the parties will be responsible for its own expenses in connection with the
Transaction, including fees and expenses of legal, accounting and financial
advisors, provided, however, that if Helix terminates this letter of intent or
the Definitive Agreement for any reason other than the breach or default of the
Venco Shareholders, Helix shall be required to reimburse the Venco Shareholders
promptly upon demand for verifiable itemized expenses incurred by the Venco
Shareholders in connection with or arising from this Transaction, up to a
cumulative total of 3,000 Euros, upon submission of proper invoices by the Venco
Shareholders to Helix.  The foregoing provision shall be deemed to
expressly survive the termination of this letter of intent and  the
termination of the Definitive Agreement.

      

      9.           Choice of Law;
Mediation.  This letter of intent shall be governed by and
construed in accordance with the internal substantive laws of the United
Kingdom. If there is any dispute between the parties regarding the terms of this
letter of intent which, after attempting in good faith to resolve the issue
between themselves remains unresolved, each party shall select a person and the
two selected persons shall mutually select a third person. Said three persons
shall determine the outcome of the dispute.

      

      10.           Compliance with the
Securities Laws.  Venco acknowledges that it and its officers,
directors, shareholders and employees and other representatives may, in
connection with their consideration of the proposed Transaction, come into
possession of material non-public information about
Helix.  Accordingly, Venco will use its best efforts to ensure that
none of its officers, directors, shareholders and employees or other
representatives will trade (or cause or encourage any third party to trade) in
any of the securities of Helix while in possession of any such material,
non-public information.

      

      Helix
acknowledges that it and its officers, directors, shareholders and employees and
other representatives may, in connection with their consideration of the
proposed Transaction, come into possession of material non-public information
about Venco.  Accordingly, Helix will use its best efforts to ensure
that none of its officers, directors, shareholders and employees or other
representatives will trade (or cause or encourage any third party to trade) in
any of the securities of Venco while in possession of any such material,
non-public information.

       

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      Venco
Power GmbH

      Page 6 of
6

      
 

      11.           Counterparts.  This
letter of intent may be executed in counterparts, each of which shall be deemed
an original, but all of which together shall constitute one and the same
instrument.  Fax copies of signatures shall be treated as originals
for all purposes.

       

      

       

      Very
truly yours,

       

      HELIX
WIND, CORP.

       

      By: /s/ Ian Gardner        

      Name: Ian
Gardner

      Title: CEO

      

      

      

      Agreed and
Accepted:

      

      Shareholders
VENCO Power GmbH

      

      

      

      By: /s/ Dr. Matthias Pfalz        

      Name: Dr.
Matthias Pfalz

      Title: CEO

      Fiber-Tech
Products GmbH, Shareholder

      

      

      

      By: /s/ Andreas Görke        

      Name:
Andreas Görke

      Title: CEO

      Weser
Anlagentechnik Beteiligungs GmbH

      

      

      By: /s/ Reinhard Caliebe        

      Name:
Reinhard Caliebe

      Title: CEO

      CLANA
Power Systems GmbHhelix_8k-ex1002.htm

    Exhibit
10.2

     

    
      
        
          
            
              
                
                  	
                          The
      Advantage 

                            of
      Vertical Axis Wind Turbines

                          

                        	 
      	 
      
	
                           

                        	 
      	 
      
	 
      	 
      	 
      
	 
      	 
      	 
      
	
                          VENCO
      Power GmbH, Halle-Kasseler-Strasse, D-37355
    Bernterode-Schacht

                        	 
      	
                          VENCO
      Power GmbH

                        
	 
      	 
      	
                          Halle-Kasseler-Strasse

                        
	 
      	 
      	
                          D-37355
      Bernterode-Schacht

                        
	 
      	 
      	
                          Germany

                        
	 
      	 
      	 
      
	 
      	 
      	
                          Tel.:
      +49 (0) 36074 79 240

                        
	 
      	 
      	
                          Fax:
      +49 (0) 36074 79 241

                        
	 
      	 
      	
                          office@vencopower.com

                        
	 
      	 
      	
                          www.vencopower.com

                        
	 
      	 
      	 
      
	 	 	 
	 	 	Date
	 	 	June 11,
      2009

                

              

            

          

        

      

    

    
      
 

    

    
      Agreement

       

      

      

       

      By and
Between

       

      VENCO
Power GmbH

      Represented
by Mr. Michael Duwe

      Halle-Kasseler-Strasse

      37355
Bernterode-Schacht

      Germany                                                                herinafter
VENCO

       

      and

       

      Helix
Wind Corp.

      Represented
by Mr. Ian Gardner

      1848
Commercial Street

      San
Diego, California 92113

      United
States of America

      hereinafter Distribution
Partner

       

       

      
        	
                1.  

              	
                VENCO manufactures
      small wind turbines with vertical axis technology and sells them under the
      brand name „VENCO“. By the time this Agreement is signed, the products
      listed below are subject to this
Agreement.

              

      

       

      
        
          
            	
                    VENCO-Twister
      series:

                  	
                    VENCO-Twister-300-T

                  
	 
      	
                    VENCO-Twister-1000-T

                  
	 
      	
                    VENCO-Twister-1000-TL

                  
	
                    VENCO-Vertikon
      series:

                  	
                    VENCO-Vertikon-H50

                  

          

        

      

       

       

      
        
          
          

        

        
          1

          
            

          

        

        
          
          

        

      

       

      
        
          	
                	
                  2. 

                	
                   Beginning
      on June 1, 2009, the Distribution Partner
      shall have the exclusive right to distribute as wholesaler or
      retailer VENCO-Products in the
      territory of „USA, United States of America“ (hereinafter „Core Territory“) as
      well as the right to distribute as wholesaler or retailer VENCO-Products
      in the  territories of  “Canada”, “Chile”, “Taiwan”,
      “Colombia”, “Cuba”, “Ecuador”, “Iceland”, “Israel”, “Jamaica”, “Japan”,
      “Malta”, “Nigeria”, “Panama”, “Peru”, “Saudi Arabia”, “Thailand”,
      “Uruguay”, “US Virgin Islands” (hereinafter Supplemental
      Territories).

                

        

      

       

      Distribution Partner, after
review with VENCO, may
add additional territories from time to time as its business expands. VENCO shall review proposed
territories to ensure they do not conflict with existing exclusive territories
from other Distributors. If not such conflicts exist then VENCO, at its sole
discretion, shall approve the additional territories.

       

      
        	
                a.  

              	
                Beginning
      on June 1, 2009, the Distribution Partner
      shall have the right to designate himself „Official Distribution Partner
      of VENCO“.

              

      

       

      
        	
                b.  

              	
                During
      the term of this Agreement, VENCO shall not enter
      into a similar distributorship agreement with any company in the Core Territory and
      covering the above listed VENCO-products. The
      Distribution
      Partner may, in his own discretion, enter into dealership
      agreements within the Core Territory and
      Supplemental
      Territories. This, however will not create any contractual
      relations between said Dealers and VENCO. The Distribution Partner
      shall ensure that the obligations of this Agreement will be adhered to by
      the Dealers.

              

      

       

      
        	
                c.  

              	
                VENCO may, at his own
      discretion, enter into similar agreements with other partners (Distribution Partners
      or Dealers) to
      distribute the above listed VENCO-products within
      the Supplemental
      Territories. VENCO shall inform the
      Distribution Partner
      of such cases. The respective region within the Supplemental
      Territories can be removed from the contractual substance of this
      Agreement in written notice by VENCO.

              

      

       

      
        	
                 
      

              	
                No
      claim for indemnification by Distribution Partner
      shall arise. In such cases, the Distribution Partner
      shall inform established Dealers in the
      respective regions of the new Distribution
  Partner.

              

      

       

      
        	
                d.  

              	
                Already
      existing Dealers
      in the Core Territory
      and Supplemental
      Territories shall be supported and supplied with adequate care by
      Distribution Partner
      in its function as retailer.

              

      

       

      
        	
                e.  

              	
                To
      the extent possible, VENCO shall obligate in
      future agreements its distribution partners in territories other than the
      Core Territory
      not to be active in the Core Territory subject
      to Agreement.  However, no guarantee can be provided that this
      condition can be fulfilled legally or in fact. VENCO expressly advises
      that for example contractually not bound purchasers of VENCO-Products with
      headquarters in other distribution territories cannot be prevented from
      reselling VENCO-Products in the
      Core Territory,
      subject to this Agreement either through their own outlets in this
      area, or through third parties, or via the
  Internet.

              

      

       

      
        	
                f.  

              	
                The
      Distribution Partner
      shall limit its distribution activities to the Core Territory and the
      Supplemental
      Territories and shall refer customers with headquarters in other
      distribution territories to the Distribution Partner in that
      territory.

              

      

       

      
        	
                g.  

              	
                VENCO will refer
      customers with headquarters in the Core Territory to
      purchase from the entitled Distribution
      Partner.

              

      

       

      
        	
                3.  

              	
                The
      term of this Agreement is till Dec. 31, 2010 and can be terminated with 3
      months notice prior to the end of 2010.  Should 3 months notice
      to terminate this Agreement not be provided, then the Agreement shall be
      renewed for 1 year.

              

      

       

      
        	
                 
      

              	
                Termination
      must be in writing.

              

      

       

      
        	
                a.  

              	
                The
      right of either party to terminate this Agreement at any time for
      important reasons is unaffected by the preceding
  clause.

              

      

       

      
        
          
          

        

        
          2

          
            

          

        

        
          
          

        

      

       

       

      
        	
                b.  

              	
                Should
      the Distribution
      Partner  not place for Core Territory a
      substantial order of 50 kW output in sum of Twister series or 100 kW
      output in sum of Vertikon Series, or 80 kW  output in
      combination of both series till Dec. 31, 2010, or within each one
      following renewed year,  this Agreement shall automatically
      terminate at the end of the following
month.

              

      

       

      
        	
                c.  

              	
                Should
      the Distribution
      Partner  not place for Supplemental
      Territories in sum for all 18 territories an additional substantial
      order of  540 kW (30 kW per territory) output in sum of Twister
      series or 1800 kW (100 kW per territory) output in sum of Vertikon Series,
      or 1260
      kW (70 kW per territory) output in combination of both series till Dec.
      31, 2010, or within each one following renewed year,  this
      Agreement shall automatically terminate at the end of the following
      month.

              

      

       

      
        	
                d.  

              	
                Without
      undue delay at the termination of this Agreement, the Distribution Partner
      shall return to VENCO any advertising,
      demonstration, or training materials that were supplied without charge or
      has not been paid so far by the Distribution
      Partner.

              

      

       

      
        	
                4.  

              	
                VENCO
      will assist the Distribution Partner in
      his marketing efforts by providing him with all present materials (such as
      leaflets, presentation photos, videos, DVD’s etc.) in electronic form and
      in English language. The Distribution Partner will translate to and
      produce materials in his language on his own efforts and expenses while
      the choice of materials to produce is left to Distribution Partner
      and to his own decision. Distribution Partner
      shall inform VENCO about produced
      materials for approval to avoid misinformation or misuse and to stay
      informed. The rights to use this materials remain by Distribution Partner
      until this Agreement is
terminated.

              

      

       

      
        	
                5. 

              	
                VENCO will supply the
      references of the Distribution Partner’s
      website on his own website
(www.vencopower.com).

              

      

       

      
        	
                6.  

              	
                Prices
      valid between the parties shall be agreed upon under separate
      terms.

              

      

       

      
        	
                7.  

              	
                The
      Distribution
      Partner may not represent VENCO nor may he enter
      into any obligations on behalf of VENCO.  The
      Distribution
      Partner is not granted the right to sign on behalf of VENCO nor to engage in
      his own name in business on behalf of VENCO.

              

      

       

      
        	
                8.  

              	
                This
      contract is subject to German law.

              

      

       

      
        	
                9.  

              	
                Venue
      for any disputes arising under this Agreement shall be VENCO
      headquarters.

              

      

       

      
        	
                10.  

              	
                There
      are no side agreements to this Agreement. Changes or modifications must be
      in writing in order to be valid. This requirement can only be waived by a
      separate agreement between the parties, which itself must be in
      writing.

              

      

       

      

      
        
          
          

        

        
          3

          
            

          

        

        
          
          

        

      

       

      
        	
                11.  

              	
                The
      validity of this contract as a whole shall not be affected by the fact
      that a single clause is invalid.  Rather the partners agree to
      retroactively replace any clauses deemed invalid with valid clauses that
      comport as closely as possible to the purpose of this Agreement and to the
      meaning of the clause deemed
invalid.

              

      

       

      
        
          
            	 
      	 
      	 
      	 
	
                    6/24/09
      

                      
      

                  	 
      	
                    June
      12, 2009 

                      
      

                  	 
	
                    Place,
      Date

                  	 
      	
                    Place,
      Date

                  	 
	 
      	 
      	 
      	 
	
                    /s/
      Ian Gardner 

                      
      

                  	 
      	
                    /s/
      Michael Duwe 

                      
      

                  	 
	
                    Helix
      Wind Ltd.

                  	 
      	
                    VENCO
      Power GmbH

                  	 
	
                    Ian
      Gardner

                  	 
      	
                    Michael
      Duwe

                  	 
	
                    (Chief
      Executive Officer)

                  	 
      	
                    (Managing
      Director)

                  	 

          

        

      

      
 

       

       

       

       

       

       

       

       

       

       

       

      4

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00160-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00160-of-00352.parquet"}]]