Document:

Share Cancellation / Exchange / Return to Treasury Agreement

SHARE CANCELLATION/EXCHANGE/RETURN TO TREASURY AGREEMENT

 

THIS AGREEMENT made the 14th day of September, 2013.

BETWEEN:

mCig, Inc.

(the "Company")

 

AND:

Paul Rosenberg

(the "Shareholder")

 

WHEREAS: 

 

A.   The Shareholder is the holder of 250,000,000 shares of the Company’s common stock and wishes to cancel 230,000,000 of such shares (the “Shareholder Shares”) in exchange for 23,000,000 preferred shares of the Company’s Series A Preferred Stock (the “Series A Preferred Stock”);

 

B.   The Shareholder agrees to the cancellation of the Shareholder Shares to seek the benefits of the designation and ranking of the Series A Preferred Stock; and

 

C.   Each of the Company and the Shareholder deem it to be in their respective best interests to immediately cancel the Shareholder Shares and issue the Series A Preferred Stock.

 

NOW THEREFORE THIS AGREEMENT WITNESSETH that in consideration of the mutual covenants contained herein (the sufficiency whereof is hereby acknowledged by the parties hereto), the parties hereby agree to and with each other as follows:

 

		
	1.  

	CANCELLATION OF THE SHAREHOLDER SHARES

 

		
	1.1  

	The Shareholder Shares shall be cancelled effective on the date of this Agreement.

 

		
	2.  

	ISSUANCE OF THE SERIES A PREFERRED STOCK

 

		
	2.1  

	The Series A Preferred Stock shall be issued and effective on the date of this Agreement, upon consent resolution from the Board of Directors of the Company.

  

		
	3.  

	RELEASE

 

		
	3.1  

	The Shareholder, together with his affiliates, shareholders, heirs, executors, administrators, and assigns, does hereby remise, release and forever discharge the Company, its respective directors, officers, shareholders, employees and agents, and their respective successors and assigns, of and from all claims, causes of action, suits and demands whatsoever which the Shareholder ever had, now or may have howsoever arising out of the original grant and this cancellation of the Shareholder Shares.

 

		
	4.  

	COUNTERPARTS

 

		
	4.1  

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

 

		
	5.  

	ELECTRONIC MEANS

 

		
	5.1  

	Delivery of an executed copy of this Agreement by electronic facsimile transmission or other means of electronic communication capable of producing a printed copy will be deemed to be execution and delivery of this Agreement as of the date set forth on page one of this Agreement.

 

		
	6.  

	FURTHER ASSURANCES

 

		
	6.1  

	As and so often as may be required, the parties will execute and deliver all such further documents, do or cause to be done all such further acts and things, and give all such further assurances as in the opinion of the Company or its counsel are necessary or advisable to give full effect to the provisions and intent of 

this Agreement.

 

7. CONVERTIBLE

7.1. The preferred shares are convertible and can be exchanged for a stated number of shares of the company's common stock, but not earlier than one year after the date of signature of this agreement.

		
	8.  

	PROPER LAW

 

		
	8.1  

	This Agreement will be governed by and construed in accordance with the law of the State of Nevada.

 

 

IN WITNESS WHEREOF the parties have executed and delivered this Agreement.

 

				
	mCig, Inc.

	 

	 

	 

	 

	 

	 

	Per:

	/s/ Paul Rosenberg

	 

	 

	 

	Authorized Signatory 

	 

	 

	 

	 

	 

	 

	 

	/s/ Paul Rosenberg

Paul Rosenbergex10.16

 
 

 

 

 

 July 1, 2013
 

 Bioshaft Water Technology Inc.
 111 West Ocean Blvd., 4th Floor
 Long Beach, CA 90802
 

 	 	
	 RE:
	 CONSULTING AGREEMENT BETWEEN

	  
	 BIOSHAFTWATER TECHNOLOGY INC. (the "Company")

	  
	 AND Hydro E +, LLC (the "Consultant")

		

 

 Further to the discussion between Bioshaft Water Technology Inc. and Hydro E +, LLC below are the terms of the agreement between the Company and the consultant engaging as a Corporate Engineering and Patent Design support Consultant.
 

 AGREEMENT
 

 DATED on this 1st day of July, 2013 by Bioshaft Water Technology Inc. a State of Nevada Corporation with offices in Long Beach, CA (the "Company") and Hydro E +, LLC a State of California Corporation with offices in Chula Vista, CA (the "Consultant").
 

 CONSULTING SERVICES
 

 A.) The Company hereby retains the services of the Consultant to render corporate finance, marketing and business development in the form of:
 

 1.  Provide engineering support to Sales for proposal generation.
 2.  Assist Engineering with Patent support for MAAD Technology.
 3.  Provide support to Saudi Engineering Operation.
 

 B.) The Consultant hereby accepts such retention on the terms and conditions herein set forth and agree to use their best efforts to perform these services at the request of the Company.
 

 C.) The Consultant shall not be required to devote any minimum or specific expenditure of time in performing these services, provided that the Consultant shall be reasonably accessible to the Company and shall devote such efforts to the effective performance of such services as may be commensurate therewith.
 

 

 

 Bioshaft Water Technology Inc.
 111 West Ocean Blvd., 4th Floor Long Beach, CA 90802
 

 
 
 

 

 

 TERM
 

 The term of this Agreement shall be through the 30th day of June 2014
 

 After 1st day of July, 2014 this Agreement can be terminated with 30 days written notice by either party.
 

 COMPENSATION
 

 In full consideration and compensation for the consulting services to be rendered to the Company by the Consultant, the Consultant shall be remunerated as follows (all figures are in US dollars)
 

 1. The Company shall pay the Consultant Seven thousand dollars ($7,000.00) for the services rendered by the Consultant on the Company's behalf.
 

 2. The Seven thousand dollars ($7,000.00) is payable on the execution of the contract and every thirty days afterward.
 

 EXPENSES
 

 The compensation includes reasonable expense in connection with the services stated above, including but not limited to: telephone, facsimile, postage, photocopying, travel and courier expenses. The Company agrees to reimburse the Consultant for special pre-approved travel expenses for marketing, training or special projects.
 

 COMPANY’S OBLIGATIONS
 

 The Company shall make available to the Consultant all information concerning the business, assets, operations and financial condition of the Company, which the Consultant reasonably requests in connection with the performance of its obligations. The Consultant may rely on the accuracy of all such information without independent verification.
 

 CONFIDENTIALITY
 

 The Consultant hereby agrees to maintain in the strictest confidence all such information provided to it by the Company, provided that such information is first identified by the Company as confidential information.
  
  
 Bioshaft Water Technology Inc.
 111 West Ocean Blvd., 4th Floor Long Beach, CA 90802
 

 
 
 

 INDEMNIFICATION
 

 The Company shall indemnify and hold harmless the Consultant against any and all loss, liability, damage, cost or expense arising out of any claim or lawsuit, actual or threatened, which the Consultant may suffer, sustain or become subject to, as a result of, or in connection with, the performance of their obligations under this Agreement, except for any loss, liability or expense which is suffered as the result of, or in connection with, the Consultant's willful misconduct, provided that the Consultant shall give prompt written notice to, and shall cooperate with and render assistance to, the Company regarding any such claim or lawsuit, and provided further the Company shall have the option to undertake and conduct the defense of any such claim or lawsuit.
 

 ENTIRE AGREEMENT
 

 This Agreement constitutes the entire Agreement between the parties and replaces all previous agreements, written or oral between the parties. This agreement can only be amended in writing and both parties must sign all amendments.
 

 Please indicate acceptance of these terms by signing below where indicated.
 

 	 	
	 Hydro E+, LLC
	 BioShaft Water Technology

	  
	  

	  
	  

	 /s/ Nelson Galan
	 /s/ Walter J. Zurawick Jr.

	 July 1, 2013
	 July 1, 2013

	  
	  

	 Nelson Galan, CFO
	 Walter J. Zurawick Jr., CEO

 

 

 

 

 
 
  
  
  
  
  
  
 

 

 

 Bioshaft Water Technology Inc.
 111 West Ocean Blvd., 4th Floor Long Beach, CA 90802ex10.17

 
 

 

 

 July 1, 2013
 

 Bioshaft Water Technology Inc.
 111 West Ocean Blvd., 4th Floor
 Long Beach, CA 90802
 

 	 	
	 RE:
	 CONSULTING AGREEMENT BETWEEN

	  
	 BIOSHAFTWATER TECHNOLOGY INC. (the "Company")

	  
	 AND Canadian Environmental Designers, Inc. (CED) (the "Consultant")

	  
	  

 

 Further to the discussion between Bioshaft Water Technology Inc. and Canadian Environmental Designers, Inc. (CED), below are the terms of the agreement between the Company and the consultant engaging as the Vice President of Operations and Business Development Consultant.
 

 AGREEMENT
 

 DATED on this 1st day of July, 2013 by Bioshaft Water Technology Inc. a State of Nevada Corporation with offices in Lake Forest, CA (the "Company") and Canadian Enviromental Designers, Inc. (CED) (the "Consultant").
 

 CONSULTING SERVICES
 

 A.) The Company hereby retains the services of the Consultant to render marketing, sales and business development in the form of:
 

 1.  Develop and implement a business development plan for the Middle East.
 2.  Recruit and train operation project managers and personnel for the Middle East operation.
 3.  Supervise all the operation design and manufacturing, installation, and maintenance of systems worldwide.
 4.  Provide periodical reports regarding progress of the Middle East operation.
 5.  Provide technical support to Bioshaft's operations worldwide.
 6.  Liaison with other managers.
 

 

 

 Bioshaft Water Technology Inc.
 111 West Ocean Blvd., 4th Floor Long Beach, CA 90802
 

 
 
 

 

 B.) The Consultant hereby accepts such retention on the terms and conditions herein set forth and agree to use their best efforts to perform these services at the request of the Company.
 

 C.) The Consultant shall not be required to devote any minimum or specific expenditure of time in performing these services, provided that the Consultant shall be reasonably accessible to the Company and shall devote such efforts to the effective performance of such services as may be commensurate therewith.
 

 TERM
 

 The term of this Agreement shall be through the June 30, 2014
 

 After June 30, 2014 this Agreement can be terminated with 30 days written notice by either party.
 

 COMPENSATION
 

 In full consideration and compensation for the consulting services to be rendered to the Company by the Consultant, the Consultant shall be remunerated as follows (all figures are in US dollars)
 

 1. The Company shall pay the Consultant, as a direct cost to the project being worked on, for the services rendered by the Consultant on the Company's behalf.
 

 2. All other projects under the Teaming Agreement, are paid by Zuheir Zahran Company directly.
 

 3. Additionally, special pre-approved expenses are invoiced and paid by the Company directly within 30 days from receiving an invoice from the Consultant.
 

 EXPENSES
 

 The compensation includes reasonable expense in connection with the services stated above, including but not limited to: telephone, facsimile, postage, photocopying, travel and courier expenses. The Company agrees to reimburse the Consultant for special pre-approved travel expenses for marketing, training or special projects.
 

 

 

 

 Bioshaft Water Technology Inc.
 111 West Ocean Blvd., 4th Floor Long Beach, CA 90802
 

 
 
 

 

 COMPANY’S OBLIGATIONS
 

 The Company shall make available to the Consultant all information concerning the business, assets, operations and financial condition of the Company, which the Consultant reasonably requests in connection with the performance of its obligations. The Consultant may rely on the accuracy of all such information without independent verification.
 

 CONFIDENTIALITY
 

 The Consultant hereby agrees to maintain in the strictest confidence all such information provided to it by the Company, provided that such information is first identified by the Company as confidential information.
  
 INDEMNIFICATION
 

 The Company shall indemnify and hold harmless the Consultant against any and all loss, liability, damage, cost or expense arising out of any claim or lawsuit, actual or threatened, which the Consultant may suffer, sustain or become subject to, as a result of, or in connection with, the performance of their obligations under this Agreement, except for any loss, liability or expense which is suffered as the result of, or in connection with, the Consultant's willful misconduct, provided that the Consultant shall give prompt written notice to, and shall cooperate with and render assistance to, the Company regarding any such claim or lawsuit, and provided further the Company shall have the option to undertake and conduct the defense of any such claim or lawsuit.
 

 ENTIRE AGREEMENT
 

 This Agreement constitutes the entire Agreement between the parties and replaces all previous agreements, written or oral between the parties. This agreement can only be amended in writing and both parties must sign all amendments.
 

 Please indicate acceptance of these terms by signing below where indicated.
 

 	 	
	 Canadian Environmental Designers, Inc. (CED)
	 BioShaft Water Technology

	  
	  

	  
	  

	 /s/ Bashar Amin
	 /s/ Walter J. Zurawick Jr.

	 July 1, 2013
	 July 1, 2013

	  
	  

	 Bashar Amin, President
	 Walter J. Zurawick Jr., President

 

 

 

 Bioshaft Water Technology Inc.
 111 West Ocean Blvd., 4th Floor Long Beach, CA 90802

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