Document:

Exhibit
10.18

    

    EMPLOYMENT
AGREEMENT

     

    THIS EMPLOYMENT AGREEMENT
(this "Agreement") is
entered into as of the 15th day of
April, 2009, by and between AgFeed Industries, Inc., a
corporation under the laws of Nevada (the "Company"), and Selina Jin (the "Executive").

     

    WHEREAS,
the Company desires to set forth the nature and terms upon which the Company
will employ Executive, including the amount of compensation and other benefits
to be provided to Executive and any of the rights of the Executive in the event
of the Executive's termination of employment with the Company.  The
Executive is willing to commit to serve the Company on the terms and conditions
herein provided.

     

    NOW,
THEREFORE, in consideration of the promises and the respective covenants and
agreements of the parties herein contained, and intending to be legally bound
hereby, the parties hereto agree as follows:

     

    1.           Employment.  The
Company hereby agrees to employ the Executive, and the Executive hereby agrees
to serve the Company, on the terms and conditions set forth
herein.  So long as Executive is employed by the Company, Executive
shall devote such business time and energy to the business of the Company as the
Company reasonably determines.

     

    2.           Term.  The
term ("Term") of Executive's employment under Section 1 will commence on the
date hereof (the "Effective Date") and shall continue until the third
anniversary of the Effective Date, subject to renewal or earlier termination as
may be set forth in this Agreement.

     

    3.           Position and
Duties.  Subject to the ultimate control of the Company, the
Executive shall serve as the Chief Financial Officer of the Company and its
subsidiaries, and shall handle such responsibilities and duties as are normally
associated with this position and as may be delegated by the Chief Executive
Officer and Chairman of AgFeed from time to time, including, but not limited to:
(i) overseeing corporate finance; (ii) planning and budgeting; (iii) overseeing
internal control functions for financial system, such as SOX compliance; (iv)
giving financial advice in business development and acquisitions integration and
information technologies. The Executive shall report directly to the Chief
Executive Officer and Chairman of AgFeed.

     

    4.           Compensation and Related
Matters.

     

    (a)           Base
Salary.  During the Executive's employment with the Company,
the Company shall pay to the Executive a base salary at a rate of One Hundred
Twenty Thousand RMB (RMB120,000) per annum (Ten Thousand RMB (RMB10,000) per
month), commencing
on the Effective Date.  The Chairman and Chief Executive Officer of
AgFeed, together with AgFeed's Compensation Committee, shall review the
Executive's performance and base salary no less than annually and shall decide
whether to grant any increase or decrease in the Executive's base salary and, if
so, the amount of such increase or decrease based upon such review.

     

    (b)           Payment of Base
Salary.  The base salary (as determined in accordance with
Section 4(a)) shall be to the Executive in immediately available funds by wire
transfer as directed by the Executive no less frequently than monthly in
arrears.

     

    (c)                      Bonuses.  The
Executive shall be eligible for and may receive bonuses.  The amount,
if any, and timing of any bonuses, shall be solely within the discretion of the
Company.

    
      
         

      

      
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    (d)           Expenses.  During
the Term, the Executive shall be entitled to receive prompt reimbursement for
all pre-approved expenses incurred by the Executive in performing services
hereunder, including all expenses of travel and living on business at the
request of and in the service of the Company, provided that such expenses are
incurred and accounted for in accordance with the policies and procedures
established by the Company.

     

    (e)           Benefits.  The
Company shall provide the Executive with welfare benefits in accordance with the
Company’s employee manual.

     

    (f)                      Vacation.  The
Executive will be entitled to receive vacations as specified in the Company’s
employee manual.

     

    (g)           Stock
Options.  On the Effective Date, subject to appropriate
approvals, including approval of the Compensation Committee of AgFeed's Board of
Directors, the Executive shall be granted a stock option (the “Option”) to acquire
30,000 shares of the Company's common stock, par value $0.001 per share, under
the Company's 2008 Long-Term Incentive Plan (the "Plan").  The Option
will be subject to the terms and conditions set forth in the Plan, including but
not limited to, determination of the exercise price of the Option and the
expiration date of the Option.  In the event that the Executive ceased
to be employed by the Company or AgFeed prior to the initial vesting date, the
Option shall be forfeited and deemed void and of no effect.

     

    5.           Directors and Officers
Liability Insurance.  During the term of this Agreement, AgFeed
shall have in force and effect (at its own cost) Directors and Officers
Liability Insurance, with coverage in such amounts as may be deemed appropriate
by AgFeed’s Board of Directors.  The Executive shall be a covered
employee under such insurance.

     

    6.           Termination.

     

    (a)              The
Executive's employment under this Agreement may be terminated by the Executive
or the Company at any time, with or without Cause (as defined
below).

     

    (b)              In
the event of termination by the Company without Cause, or in the event of the
Executive's death or disability or a Constructive Termination (as defined
below), the Company shall pay the Executive a lump sum severance amount equal
to:

     

    (i)                      $3,000,
if such termination or Constructive Termination occurs on or before the first
anniversary of the Effective Date;

     

    (ii)                     $6,500,
if such termination or Constructive Termination occurs after the first
anniversary but on or before the second anniversary of the Effective Date;
or

     

    (iii)                    $10,000,
if such termination or Constructive Termination occurs on or after the second
anniversary of the Effective Date.

     

    In the
event of termination by the Company with Cause, or if the Executive voluntarily
terminates her employment, then the Executive shall not be entitled to the
severance payment described in Section 6(b).

     

    (c)                      In
the event of termination by the Company without Cause, or in the event of the
Executive's death or disability or a Constructive Termination, any options
granted to the Executive (including the Option) shall vest immediately and may
be exercised in full or in part within one (1) year from the date of
termination, the Executive's death or disability, or Constructive
Termination.  The effect of any other termination of the Executive's
employment on options granted to the Executive shall be the immediate
cancellation and forfeiture of any unexercised portion of the Option (whether or
not vested).

    
      
         

      

      
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    (d)           For
the purposes of this Agreement, "Cause" shall mean (1) a refusal, failure, or
inability to perform any reasonable assigned duties; (2) a material breach or
violation of this Agreement; (3) conduct by the Executive that constitutes gross
negligence or wilful misconduct; (4) material failure to follow AgFeed's
policies, directives, or orders applicable to AgFeed employees holding
comparable positions; (5) intentional destruction or theft of AgFeed property or
falsifications of AgFeed documents; (6) conviction of a felony or any crime
involving moral turpitude or a misdemeanor where imprisonment in excess of
fifteen (15) days is imposed; or (7) violation of AgFeed's Code of
Conduct.

     

    (e)           For
the purposes of this Agreement, "Constructive Termination" shall mean: (1)
material reduction by the Company of the scope of the Executive's duties for
forty (40) consecutive Business Days, (2) a material reduction in the
Executive's base salary, or (3) the continued assignment to the Executive of any
duties materially inconsistent with the level of her position with the Company;
provided that none of the foregoing events shall be deemed to result in a
Constructive Termination if the Executive consents to such events or if such
events are the result of actions of the Company or its Board of Directors that
are applicable to all officers of the Company.

     

    (f)                      The
Company may extend the Term of this Agreement for successive two year terms so
long as the Company provides the Executive at least sixty (60) calendar days
advance written notice and with the consent of the Executive prior to the
expiration of the Term.

     

    (g)           A
“Business Day”
means any day other than (1) a Saturday, Sunday or legal holiday, or (2) a day
on which commercial banks in Beijing, PRC are authorized or required by law to
close.

     

    7.           Confidential
Information.  In the course of the Executive’s employment with
the Company, the Executive may become aware of confidential information
including, without limitation, financial information, computer system and
software designs, customer lists, market research, strategic plans, and other
non-public or similar information that relates to the business of AgFeed and
their affiliates, investors, business partners, customers and/or
clients.  The Executive will not use or disclose any such confidential
information of AgFeed, the Company and their affiliates, investors, business
partners, customers or clients except in the course of her duties to AgFeed or
unless ordered to do so by a court of competent jurisdiction (in which latter
case the Executive will promptly inform AgFeed of such order).  The
Executive will comply with AgFeed’s or the Company's policies and procedures for
the protection of confidential information.  Further, the Executive’s
obligation not to disclose or use such confidential information will continue
after the termination of the Executive’s employment for whatever
reason.  Confidential information excludes any information which was
not obtained from AgFeed (or a director, officer, employee or agent of AgFeed)
or which is or becomes known by the public or in AgFeed’s or the Company's
industry other than by a breach by the Executive of a confidentiality obligation
to AgFeed.

     

    8.           Non-Solicitation and
Non-Compete

     

    (a)           The
Company and the Executive agree that until the Termination Date, the Executive
shall devote substantially all of her working time to the business and affairs
of AgFeed.

     

    (b)           The
Executive agrees that for a period of twelve (12) months following the date of
termination of the Executive’s employment with the Company for any reason (the
“Termination
Date”), the Executive will not, and will not assist anyone else to,
directly or indirectly solicit or induce any of AgFeed’s employees to terminate
their employment with AgFeed or divert, interfere with or take away from AgFeed
any person, company or entity which, within the six month period immediately
preceding the Termination Date, was an investor, customer, client, supplier,
business partner, prime contractor, subcontractor, employee or independent
contractor of AgFeed.

     

    (c)                      From
the Termination Date and for a period of twelve (12) months thereafter, the
Executive agrees that she will not, directly or indirectly, as an equity owner,
director, employee, consultant, lender, agent or in any other capacity, (1)
engage or participate in, or have any interest in any corporation, entity or
other person that engages or participates in any actual, contemplated, or
proposed business or activity engaged or participated in by AgFeed or their
subsidiaries on the Termination Date, or (2) engage or participate in, or have
an interest in any corporation, entity or other person that participates in a
merger, acquisition or consolidation with AgFeed or any of their
subsidiaries.

    
      
         

      

      
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    (d)           For
purposes of Section 8(c), the Executive will be deemed directly or indirectly to
be engaged or participating in the operation of such a business or activity, or
to have an interest in a corporation, entity or other person, if she is a
proprietor, partner, joint venturer, shareholder, director, officer, lender,
manager, employee, consultant, advisor or agent or if she, directly or
indirectly (including as a member of a group), controls all or any part thereof;
provided, that nothing in Section 8(c) shall prohibit the Executive from holding
less than five percent (5%) of a class of an entity's outstanding securities
that are listed on a national securities exchange or traded in the
over-the-counter market.

     

    9.           Binding
Agreement.  This Agreement and all rights of the Executive
hereunder shall inure to the benefit of and be enforceable by the Executive's
personal or legal representatives, executors, administrators, successors, heirs,
distributes, devisees and legatees.  If the Executive should die while
any amounts would still be payable to the Executive hereunder if the Executive
had continued to live, all such amounts, unless otherwise provided herein, shall
be paid in accordance with the terms of this Agreement to the Executive's
devisee, legatee, or other designee or, if there be no such designee, to the
Executive's estate.  This Agreement and all rights of the Company
hereunder shall inure to the benefit of and be enforceable to the Company, and
its successors and assigns.

     

    10.           Prior
Agreements.  All prior agreements between the Company and the
Executive with respect to the employment of the Executive are hereby superseded
and terminated effective as of the date hereof and shall be without further
force or effect.

     

    11.           Miscellaneous.  No
provisions of this Agreement may be modified, waived or discharged unless such
waiver, modification or discharge is agreed to in a writing signed by the
Executive and a duly authorized officer of the Company.  No waiver by
either party hereto at any time of any breach by the other party hereto of, or
compliance with, any condition or provision of this Agreement to be performed by
such other party shall be deemed a waiver of similar or dissimilar provisions or
conditions at the same or at any prior or subsequent time.  No
agreements or representations, oral or otherwise, express or implied, with
respect to the subject matter hereof have been made by either party which are
not set forth expressly in this Agreement.

     

    12.           Governing
Law/Venue.  This Agreement shall be governed by and construed
under the laws of the PRC, without regard to that country's conflicts of laws
principles.

     

    13.           Validity.  The
invalidity or unenforceability of any provision or provisions of this Agreement
shall not affect the validity or enforceability of any other provision of this
Agreement, which shall remain in full force and effect.

     

    14.           Severability;
Headings.  If any portion of this Agreement is held invalid or
inoperative, the other portions of this Agreement shall be deemed valid and
operative and, so far as is reasonable and possible, effect shall be given to
the intent manifested by the portion held invalid or inoperative.  The
paragraph headings herein are for reference purposes only and are not intended
in any way to describe, interpret, define or limit the extent of intent of the
Agreement or of any part hereof.

     

    
      
        
        

      

      
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    IN WITNESS WHEREOF, the
parties have executed this Employment Agreement on the date and year first above
written.

     

    
      
        
          
            
              	
                      COMPANY:

                    
	 
      
	
                      AGFEED
      INDUSTRIES, INC.

                    
	 
      
	
                      By:

                    	
                      /s/ Songyan Li

                    
	
                      Name:
      Songyan Li

                    
	
                      Title:
      Chairman

                    
	 
      
	
                      EXECUTIVE:

                    
	 
      
	
                      /s/ Selina Jin

                    
	
                      SELINA
      JIN

                    

            

          

        

      

    

    
      
         

      

      
        5Unassociated Document

    Exhibit
10.47

    

    ACCOUNT
PURCHASE AGREEMENT

    

    This
Agreement is dated as of April 6, 2009 between Premier Trade Solutions, Inc.,
(“PTSI”) and Drinks Americas, Inc. (“Client”). The Client and PTSI agree as
follows:

    

    ARTICLE
I

    Purpose
of Agreement

    

    1.01 Purpose of Agreement. The
Client desires to sell and assign to PTSI accounts receivable and PTSI desires
to purchase selected accounts on the terms and conditions set forth herein and
in connection with the Assignment and Schedule of Accounts executed in
connection with each Account purchase. The purpose of this agreement is
commercial in nature and not for household, family and/or personal
use.

    

    ARTICLE
II

    Definitions

    

    2.01 “Account” means any right
of payment of the net amount for goods sold, or leased and delivered or services
rendered in the ordinary course of Client’s business which is not evidenced by
an instrument or chattel paper.

    

    2.02 “Acceptable Account”
means an Account which conforms to the warranties and terms set forth
herein or at PTSI’s sole discretion, net of any credits or allowances of any
nature and is not an Unacceptable Account as defined below.

    

    2.3 “Account Debtor” means
Client’s customer or any other person or entity owing money to the Client with
respect to the Account.

    

    2.4 “Account Debtor Dispute”
means a claim by Account Debtor against Client, of any kind whatsoever,
that reduces or may reduce the amount collectible from Account Debtor by PTSI
which arises at anytime, whether before or after signing of this Agreement or
the purchase of any Account.

    

    2.5 “Collateral” means the
intangible or tangible property given as security to PTSI by Client for any
obligations and liabilities of Client to PTSI under this Agreement.

    

    2.6 “Client” means the seller
and assignor of the Accounts.

    

    2.7 “Event of Default” shall
mean the existence of a default pursuant to Article VII hereunder, or a default
under any documents given to PTSI in connection with this
Agreement.

    

    2.8 “Initial Payment” shall
mean with respect to a given Account an amount equal to the gross face amount of
such Account less stated trade discounts offered by the Customer to the Account
Debtor less twenty percent (20.0%). This percentage may be adjusted by PTSI at
any time at PTSI’s sole discretion.

    

    
      
         

      

      
         

        
          

        

      

      
         

      

       

    

    2.9 “Net Purchase Price” means
an amount equal to the gross face amount of each Account less PTSI’s Fee and
less other charges with respect to such Account including but not limited to any
amount of any trade discounts, credits or allowances, or any other reductions or
adjustments to such Account taken by the Account Debtor.

    

    2.10 “Part Payment” means any
payment made by PTSI to the Client which is less than the full Net Purchase
Price as more fully described in Article III below.

    

    2.11 “PTSI Fee” means a fee of
one and three-quarters percent (1.75%) charged on the gross invoice amount for
the first thirty (30) day period from the date of invoice purchase to the date
of invoice payment, with an additional fee of seven basis points (0.07%) charged
for each day thereafter until paid in full

    

    2.12 “Repurchase Price” for
any Account means the Net Purchase Price less any amounts collected from the
Account Debtor on the Account plus PTSI’s Fee and all other fees, costs or
expenses associated with the repurchase or collection of such Account. In any
event where repurchase is required under this Agreement, PTSI, in its
discretion, may charge back the Repurchase Price to Client’s account which may
create a deficit balance under Section 3.04 below.

    

    2.13 “Unacceptable Account”
shall mean Accounts which are not acceptable in PTSI’s sole discretion
including but not limited to the following Accounts:

    

    (a)
Accounts owed by any unit of government, whether foreign or domestic (provided,
however, that there shall be included in Acceptable Accounts that portion of
Accounts owed by such units of government for which the Client has provided
evidence satisfactory to PTSI that (i) PTSI has a first priority perfected
security interest and (ii) such Accounts may be enforced by PTSI directly
against such unit of government under all applicable laws);

    

    (b)
Accounts owed by an Account Debtor located outside the United States which are
not (i) backed by a bank letter of credit naming PTSI as beneficiary or assigned
to PTSI, in PTSI’s possession and acceptable to PTSI in all respects, in its
sole discretion, (ii) covered by a foreign receivables insurance policy
acceptable to PTSI in its sole discretion;

    

    (c)
Accounts owed by an Account Debtor that is insolvent, the subject of bankruptcy
proceedings or has gone out of business;

    

    (d)
Accounts owed by a shareholder, subsidiary, affiliate, officer or employee of
the Client;

    

    (e)
Accounts not subject to a duly perfected security interest in PTSI’s favor or
which are subject to any lien, security interest or claim in favor of any Person
other than PTSI including without limitation any payment or performance
bond;

    

    (f)
Accounts that have been restructured, extended, amended or
modified;

    

    (g) That
portion of Accounts that constitutes advertising, finance charges, service
charges or sales or excise taxes; and

    

    (h)
Accounts, or portions thereof, that fail to conform to the representation and
warranties contained herein or are otherwise deemed unacceptable by PTSI in its
sole discretion.

    

    
      
         

      

      
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    ARTICLE
III

    Purchase
of Accounts

    

    3.01 Approval: PTSI shall
consider the purchase of Accounts submitted to PTSI by Client for approval. PTSI
is not obligated to buy any Account from Client which PTSI does not deem
acceptable in its sole discretion.

    

    3.02 Purchase: Upon approval
and acceptance by PTSI of an Account for the assignment and sale of an Account
to PTSI, Client shall be entitled to an Initial Payment.

    

    3.03 Purchase Price: As
consideration for the assignment and sale of an Account to PTSI, PTSI shall pay
the to the Client the Net Purchase Price on the terms and conditions as stated
herein.

    

    3.04 Payment of Purchase
Price: If no Default exists hereunder, PTSI shall pay for each Account purchased
hereunder the Net Purchase Price for such Account to Client as
follows:

    (a) Upon
assignment or sale of an Account to PTSI, and receipt of all documents and forms
described in Section 3.05 below and upon fulfillment of all terms precedent to
such sale or assignment as more fully described below, PTSI shall pay to the
Client the Initial Payment for such Account.

    

    (b) After
collection of an Account in full by PTSI, and if there is no Event of Default
hereunder, PTSI shall pay to the Client the amount collected on the Account
less: (i) the Initial Payment, (ii) Part Payment(s), and (iii) any fees,
expenses or charges owed to PTSI as more fully described herein.

    

    (c) In
the event of a default hereunder (or an event which with the passage of time or
notice would become an event of default), PTSI may withhold any payment
otherwise due to Client under this Agreement and charge any obligation of Client
to PTSI against such amount or PTSI may hold such amount as collateral for any
such obligations of Client to PTSI.

    

    3.05 Reporting and Statement
of Account: On a weekly basis, or as otherwise determined by PTSI in its sole
discretion, PTSI shall prepare, and make available to the Client, an accounting
of the purchases, collections, fees and charges related to this Agreement which
have occurred during that week or other period. Should such a statement of
account indicate a deficit balance, the Client shall immediately pay to PTSI,
the amount of such deficit plus accrued interest on such deficit balance.
Interest shall accrue on any deficit balance at the annual rate of eighteen
percent (18%), calculated on a daily basis, not to exceed the applicable legal
limit, until such deficit is paid in full.

    

    3.06 Required Forms: When
Client offers Accounts to PTSI for sale, PTSI shall receive (i) an assignment of
Accounts, in a form satisfactory to PTSI and signed by an authorized
representative of Client, (ii) an original invoice or such other document
acceptable to PTSI in its sole discretion, (iii) a copy of the Bill of Lading,
(iv) proof of delivery, (v) contract, purchase order, or purchase order number
which corresponds with such invoice(s), as appropriate to the business of
Client, (vi) notification of assignment and waiver of offset signed by the
Account Debtor in a form acceptable to PTSI in its sole discretion, (vii) a
three party agreement with any entity or person which holds a security interest
in the Accounts of Customer or otherwise has an interest in the same, and (vii)
and any other document which PTSI may require.

    

    
      
         

      

      
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    3.07 Labels: Client shall
imprint, label, or otherwise mark each original invoice (or the electronic
equivalent of an invoice) or other such documentation accepted by PTSI for each
Account being sold to PTSI which indicates that the Account has been sold to
PTSI with the following language:

    

    This
invoice has been assigned to

    and
is payable to:

    Premier
Trade Solutions, Inc.

    P.
O. Box 1049

    Denver,
CO 80201-1049

    

    3.08 Notification: PTSI may at
any time, and at its sole discretion, notify any Account Debtor of the
assignment of the Account sold to PTSI and direct the Account Debtor to make
payments directly to PTSI.

    

    3.09 Sole Property: Once PTSI
has purchased an Account, any and all payments from the Account Debtor as to
that Account are the sole property of PTSI.

    

    3.10 Book Entry: Client shall,
immediately upon sale of Accounts to PTSI, make proper entries on its
books

    and
records disclosing the absolute sale of said Accounts to PTSI, including the
proper inclusion of the language stated in paragraph 3.06 above, on said books
and records and other documents as so directed by PTSI. Such entry shall include
the fee set forth in the Account Purchase Addendum for each particular account
purchased by PTSI.

    

    3.11 PTSI may settle any
Account Debtor Dispute with the relevant Account Debtor. Such settlement does
not

    relieve
Client of any obligation (including any repurchase obligation) under this
Agreement with respect to any Accounts.

    

    ARTICLE
IV

    Client’s
Representations, Warranties and Covenants

    

    4.01 Representations and
Warranties. Client hereby represents and warrants and as follows:

    

    4.01 (a) Client is properly
licensed, qualified and authorized to operate the business of Drinks Americas,
Inc. under the laws of Delaware under the trade name(s) of N/A and Client’s
trade name(s) have been properly filed and published as required by applicable
law. Client, and the persons executing this document, are duly authorized to
execute and deliver this Agreement and all other documents required to be
executed and delivered hereunder.

    

    4.01 (b) Client is solvent, is
not a Debtor under the United States Bankruptcy Code or under the direction of a
receiver, and Client has made and shall continue to make timely payment on
deposit of any tax required to be deducted and withheld by Client from the wages
of any of its employees.

    

    4.01 (c) Client is, at the
time of purchase of each Account by PTSI, the lawful owner of and has good and
undisputed title to such Account. Each Account, at the time of purchase is free
from any liens, mortgages, restrictions or encumbrances. Each Account offered
for sale to PTSI is an Acceptable Account as defined above.

    

    
      
         

      

      
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    4.01 (d) Each Account Debtor’s
business is solvent to the best of Client’s information and
knowledge.

    

    4.01 (e) Each Account offered
for sale to PTSI is an accurate and undisputed statement of indebtedness owed by
Account Debtor to Client for a certain sum which is due and payable in 30 days
or less, or within such time as is agreed to in writing by PTSI and Client, is
for a bona fide sale, delivery and acceptance of merchandise or performance of
services which have been received and finally accepted by the Account Debtor.
Client has all rights to transfer or sell such Accounts to PTSI and is payable
by Account Debtor without offset, deduction or counterclaim.

    

    4.01 (f) Client does not own,
control or exercise dominion over, in any way whatsoever, the Account Debtor or
the business of any Account Debtor for whom Accounts are to be sold by Client to
PTSI.

    

    4.01 (g) All financial
records, statements, books or other documents shown to PTSI by Client at
anytime, either before or after the signing of this Agreement are true and
accurate.

    

    4.01 (h) Client has not
transferred, pledged or granted a security interest in Client’s Accounts or
other personal property to any other party which Client has not fully disclosed
in writing to PTSI.

    

    4.01 (i) There is no action,
suit or proceeding at law or in equity or by or before any governmental
instrumentality or other agency now pending, or to the knowledge of Client,
threatened against or affecting Client, which if adversely determined, would
have a material adverse effect on the business, operations, property, assets or
condition, financial or otherwise, of Client.

    

    4.01 (j) The execution and
performance by Client of the terms and provisions of this Agreement and the
execution and delivery of any other documents required to be executed and
delivered hereunder have been duly authorized by all requisite company action,
and neither the execution nor the performance of this Agreement or any other
documents required to be delivered hereunder, will violate any provision of law,
any order of any court or other agency of government, the governing documents of
any Client, or any agreement or other instrument to which Client is a party, or
by which Client is bound, or be in conflict with, result in breach of, or
constitute (with due notice or lapse of time or both) a default under, or result
in the creation or imposition of any lien, charge or encumbrance of any nature
whatsoever upon any of the property or assets of Client, pursuant to any such
agreement or instrument, except as provided hereunder. Client agrees that it
will execute and perform all terms hereunder.

    

    4.01 (k) No Account presented
for sale to PTSI is disputed or subject to a claim of offset or a contra
account.

    

    4.02 Negative Covenants.
Client agrees as follows:

    

    4.02 (a) Client will not under
any circumstances or in any manner whatsoever, interfere with any of PTSI’s
rights under this Agreement.

    

    4.02 (b) For the duration of
this Agreement and for any period thereafter for as long as any obligation to
repurchase or indebtedness whatsoever remains owing by Client to PTSI, Client
will not sell or assign Accounts except to PTSI.

    

    
      
         

      

      
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    4.02 (c) Client shall not, and
shall not consent to the transfer, pledge or grant a security interest to,
placement of any lien or encumbrance, by any other party on any personal
property or accounts belonging to the Client for the term of this Agreement and
for as long as Client may be required to repurchase any Account or is indebted
to PTSI hereunder without the written consent of PTSI. Client shall provide
written notice to PTSI within five business days of Client obtaining any
knowledge, from any source, of the assertion, filing, recording or perfection by
any means, of any non-consensual lien, claim or encumbrance against the property
of Client.

    

    4.02 (d) Client will not
change or modify the terms of the original invoice or agreement with the Account
Debtor or the order of payment on Accounts sold to PTSI unless PTSI first
consents to such change or modification in writing.

    

    4.02
(e) Client shall not intentionally contribute to, or aggravate any Credit
Problem of an Account Debtor.

    

    4.02 (f) Client shall not be
involved in a dispute with an Account Debtor, regardless of validity, during the
term of this Agreement.

    

    4.03 Affirmative Covenants.
Client agrees as follows:

    

    4.03 (a) Client will maintain
such insurance covering Client’s business and/or the property of the Account
Debtors as is customary and adequate for businesses similar to the business of
Client in an amount as is sufficient to compensate for reasonably foreseeable
loss, and promptly pay all premiums with respect to the policies covering such
insurance. Further, at the request of PTSI, the Client shall have PTSI named as
loss payee for such insurance.

    

    4.03 (b) Client will notify
PTSI in writing prior to any change in the location of any of its places of
business, including the location of the Client’s inventory or, if Client has or
intends to acquire any additional place of business. Client will not change its
chief executive office or the office or offices where Client’s books and records
concerning Accounts are kept.

    

    4.03 (c) Client will
immediately notify PTSI in writing of any proposed change of Client’s name,
identity, legal entity, corporate structure, business dissolution, use of any
additional trade name, or any proposed change in any of the officers,
principals, partners, and/or owners of Client and will not effect any such
change without PTSI’s written consent.

    

    4.03 (d) Client will
immediately notify PTSI in writing of the commencement of any legal proceeding
or service of any legal document affecting the Client including, but not limited
to, any judgments, liens, attachments, garnishments, complaints, or the filing
of a voluntary or involuntary petition under the United States Bankruptcy
Code.

    

    4.03 (e)
Whenever any payment on an Account purchased by PTSI comes into Client’s
possession Client shall hold such payment in trust and safekeeping, as the
property of PTSI, and immediately turn over to PTSI such payment in the same
form as it was received by Client to PTSI. Should Client come into possession of
a check or other form of payment consisting of payment upon Accounts purchased
by PTSI and payment upon Accounts not purchased by PTSI, Client shall turnover
said payment in the same form it was received by Client to PTSI immediately.
After receipt of good funds therefore, PTSI shall apply the funds, first to
those Accounts purchased by PTSI and, second, to any amounts owed to PTSI. If no
Default exists hereunder, any remaining balance shall be paid to the Client.
Further, Client shall hold in trust and safekeeping, as the property of PTSI,
and immediately turn over to PTSI, any goods or inventory returned to, reclaimed
or repossessed by the Client which are covered by an Account purchased by PTSI.
Client shall pay a misdirected payment fee in the amount of fifteen percent
(15%) of the amount of any payment on account of a Purchased Account which has
been received by Client and not delivered in kind to PTSI on the next business
day following the date of receipt by Client.

    

    
      
         

      

      
        6

        
          

        

      

      
         

      

       

    

    4.03
(f) At PTSI’s request, but at least once per quarter, or once per month
if Client is in default, Client will furnish to PTSI financial statements and
information as requested, including, but not limited to, satisfactory proof of
payment and compliance with all federal, state and local tax
requirements.

     

    4.03
(g) Client will immediately notify PTSI of any dispute between Client and
Account Debtor or of the return of any product by Account Debtor to
Client.

     

    4.03
(h) Client shall immediately notify PTSI of any
claim or loss or offset of any kind against Client or PTSI asserted by
Account Debtor during any time period covered by this
Agreement.

     

    4.03
(i) Upon the occurrence of an Account Debtor Dispute, Client shall
immediately pay to PTSI the Repurchase Price for any and all Accounts so
disputed.

    

    ARTICLE
V

    Security
Interest

    

    5.01 Security
Interest/Collateral: As further inducement for PTSI to enter into this
Agreement, Client hereby grants to PTSI, as security for the repayment of any
and all of Client's obligations hereunder, a security interest in all of
Client's equipment, fixtures, accounts, inventory, instruments, documents,
contract rights, chattel paper, general intangibles and the proceeds thereof
(including any insurance proceeds), now and hereafter owned by Client, or in
which Client now or hereafter may have any rights, together with any inventory
or goods owned by the secured party in the possession of Client wherever
situated and whenever acquired ("Collateral").

    

    5.02 Security Documents:
Client shall execute all and deliver to PTSI any and all documents and
instruments as

    

    PTSI may
request from time to time, including, without limitation, UCC financing
statements or amendments. Client authorizes PTSI to file a financing statement
with any appropriate authority reflecting its security interest and further
authorizes PTSI to file other filings including amendments (other than
amendments adding collateral) or terminations as PTSI deems appropriate. In
addition, Client further authorizes PTSI to have the postal service deliver
Client’s mail directly to PTSI. PTSI is entitled to retain any mail constituting
PTSI collateral and shall forward the remainder of the mail at Client’s written
instruction.

     

    ARTICLE
VI

    Operational
Provisions

     

    6.01 Repurchase of Accounts:
In the event any Account purchased by PTSI has not paid in full within 90 days
of the invoice date, PTSI may (but is not required to) demand that Client
repurchase such Account within five (5) days of notice to repurchase by PTSI,
or, at PTSI’s option, PTSI may charge the Repurchase Price against any reserve
held by PTSI. In the event, the remedies of Article VIII apply.

    

    
      
         

      

      
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    6.02 Power of Attorney: In
order to carry out this Agreement and avoid unnecessary notification of Account
Debtors, Client irrevocably appoints PTSI, or any person designated by PTSI, as
its special attorney in fact, or agent, with power to:

    

    
      	
               
      

            	
              i.

            	
              strike
      out Client’s address on all invoices delivered to Account Debtors and note
      PTSI’s address on all invoices.

            

    

    
      	
               
      

            	
              ii.

            	
              direct
      the Postal Service to have all of Client’s mail directed to be delivered
      to PTSI’s address and to receive, open and dispose of all mail addressed
      to Client (including any trade name of Client) sent to PTSI’s
      address.

            

    

    
      	
               
      

            	
              iii.

            	
              endorse
      the name of Client or Client’s trade name on any checks or other evidences
      of payment that may come into the possession of PTSI on Accounts purchased
      by PTSI or pursuant to default, and on any other documents relating to any
      of the Accounts or to Collateral.

            

    

    
      	
               
      

            	
              iv.

            	
              in
      Client’s name, or otherwise, demand, sue for, collect, and give releases
      for any and all monies due to or become due on
  Accounts.

            

    

    
      	
               
      

            	
              v.

            	
              compromise,
      prosecute, or defend any action, claim or proceeding as to said
      Accounts.

            

    

    
      	
               
      

            	
              vi.

            	
              from
      time to time offer a trade discount to Client’s Account Debtor exclusive
      of Client’s normal business custom with said Account
    Debtor.

            

    

    
      	
               
      

            	
              vii.

            	
              initiate
      electronic debit or credit entries through the ACH system to Client’s
      account or any other deposit account maintained by Client wherever
      located.

            

    

    
      	
               
      

            	
              viii.

            	
              Sign
      Client’s name on any notice of assignment, financing statement, amendment
      to any financing statement and on any notices to Account
      Debtors.

            

    

    
      	
               
      

            	
              ix.

            	
              do
      any and all things necessary and proper to carry out the purposes intended
      by this Agreement.

            

    

    

    The
authority granted to PTSI under this provision shall remain in full force and
effect until all assigned Accounts are paid in full and any indebtedness of
Client to PTSI is discharged.

    

    6.03 Double Payments: Should
PTSI receive a double payment on an Account or other payment which is not
identified, PTSI shall carry these sums as open items in its accounting and
shall return any double payment to the payor or apply such unidentified payment
pursuant to the terms hereunder upon proper identification and
documentation.

    

    6.04 Hold Harmless: Client
shall hold PTSI harmless against any Account Debtor ill will arising from PTSI’s
collecting or attempting to collect on any Accounts.

    

    6.05 Taxes: Should any excise,
sale, use or other tax be imposed by any federal, state or local authority
requiring a deduction or withholding from the proceeds of sale of Accounts, or
if the Account Debtor is authorized to withhold and deduct such tax or levy,
then the Client shall immediately pay PTSI the amount of the tax or levy so
withheld, and the Client shall indemnify and hold PTSI harmless from any loss or
expense on account of such tax.

    

    6.06 Reports: Except as
provided in Section 3.06, and in the event Client requests information from PTSI
regarding Client’s account hereunder, such requests shall be subject to
additional fees as determined by PTSI which fees may change from time to
time.

    

    ARTICLE
VII

    Default

    

    7.01 Any one or more of the
following shall be an Event of Default hereunder:

     

    
      
         

      

      
        8

        
          

        

      

      
         

      

       

    

    7.01 (a) Client shall fail to
pay any indebtedness to PTSI when due or repurchase any Account when required
hereunder.

    

    7.01 (b) Client shall breach
any term, provision, promise, warranty, representation or covenant under this
Agreement, or under any other agreements, contracts, between Client and PTSI or
obligation to PTSI.

    

    7.01 (c) The appointment of
any receiver or trustee of all or a substantial portion of the assets of
Client.

    

    7.01 (d) Client shall become
insolvent or unable to pay debts as they mature, shall make a general assignment
for the benefit of creditors or shall voluntarily file a petition under the
United States Bankruptcy Code or any similar law.

    

    7.01 (e) Any involuntary
petition in bankruptcy shall be filed against Client and shall not be dismissed
within 60 days or an order for relief is entered against Client under the United
States Bankruptcy Code.

    

    7.01 (f) Any levies,
attachment, executions, tax assessments or similar process shall be issued
against the Collateral.

    

    7.01 (g) Any financial
statements, profit and loss statements, or schedules, other statements or
documents furnished by Client to PTSI are false or incorrect in any material
respect.

    

    7.01 (h) Any documents
submitted by Client to PTSI for the purchase of an Account are mistaken,
fraudulent, incorrect and/or erroneous, or if the Client fails to submit any
document required by PTSI under this Agreement for the purchase of that
Account.

    

    7.01 (i) Any Account Debtor
shall assert a claim or offset of any kind against Client or PTSI during any
time period covered by this Agreement.

    

    7.01 (j) Client shall attempt
to redirect Client’s mail for delivery to Client after PTSI has directed the
Postal Service to deliver such mail to PTSI.

     

    
      
         

      

      
        9

        
          

        

      

      
         

      

       

    

    ARTICLE
VIII

    Remedies

    

    8.01 In the event of an
occurrence of an Event of Default, PTSI may do any one or more of the
following:

    

    8.01 (a) Declare immediately
due and payable, and to charge back, all indebtedness of Client to PTSI,
including without limitation (i) outstanding purchased Accounts and (ii) all
other fees, costs and expenses as required hereunder.

    

    8.01 (b) Cease purchasing
Accounts under this Agreement.

    

    8.01 (b) Notify any Account
Debtor and take possession of Collateral and collect any Accounts without
judicial process.

    

    8.01 (c) Require Client to
assemble the Collateral and the records pertaining to Accounts and make them
available to PTSI at a place designated by PTSI.

    

    8.01 (d) Enter the premises of
Client and take possession of the Collateral and of the records pertaining to
the Accounts and any other Collateral.

    

    8.01 (e) Grant extensions,
compromise claims and settle Accounts for less than face value, all without
prior notice to Client.

    

    8.01 (f) Use, in connection
with any assembly or disposition of the Collateral, any trademark, trade name,
trade style, copyright, patent right or technical process used or utilized by
Client.

    

    8.01 (g) Hold Client liable
for any deficiency for any amounts due and owing to PTSI.

    

    8.01 (h) Require the Client to
repurchase any and all Accounts, whether disputed or undisputed, and pay the
Repurchase Price for those Accounts as provided herein.

    

    8.01 (i) Cease making reports
or accountings to the Client as otherwise required by this
Agreement.

     

    ARTICLE
IX

    Term
and Termination

    

    9.01 This Agreement shall
continue in full force and effect until the earliest of (a) a 30 notice by
either party of termination of the Agreement; or (b) any date set by PTSI upon
the occurrence of an Event of Default. On the date of termination, all
obligations owing by the Client to PTSI shall become immediately due and payable
in full without further notice or demand.

    

    9.02 After termination, Client
shall repurchase any and all Accounts, whether disputed or undisputed, as may be
requested by PTSI, and shall pay the Repurchase Price for those Accounts as
provided herein as well as any other indebtedness or obligations owed to PTSI by
Client . PTSI continues and shall continue to have a security interest in the
Collateral of Client until all amounts owed to PTSI by Client are paid in full
or are satisfied.

     

    
      
         

      

      
        10

        
          

        

      

      
         

      

       

    

    ARTICLE
X

    Miscellaneous
Provisions

    

    10.01 Binding on Future
Parties: This Agreement inures to the benefit of and is binding upon the heirs,
executors, administrators, successors and assigns of the parties
thereto.

    

    10.02 Cumulative Rights: No
failure or delay by PTSI in exercising any right, power or remedy under the
Agreement or documents given in connection with the Agreement shall operate as a
waiver thereof; nor shall any single or partial exercise of any such right,
power or remedy preclude any other or further exercise thereof or the exercise
of any other right, power or remedy under the Agreement. The remedies provided
herein are cumulative and not exclusive of any remedies provided by
law.

    

    10.03 Waiver: PTSI may not
waive its rights and remedies unless the waiver is in writing and signed by
PTSI. A waiver by PTSI of a right or remedy under this Agreement on one occasion
is not a waiver of the right or remedy on any subsequent occasion.

    

    10.04 Choice of Law: This
Agreement shall be governed by and construed in accordance with the laws of the
State of Colorado.

    

    10.05 Invalid Provisions: Any
provision of this Agreement which is prohibited or unenforceable shall be
ineffective to the extent of such prohibition or unenforceability without
invalidating the remaining provisions hereof.

    

    10.06 Entire Agreement: This
instrument contains the entire Agreement between the parties. This Agreement,
together with the documents given in connection herewith, comprises the complete
and integrated agreement of the parties on the subject matter hereof and
supersedes all prior agreements, written or oral, on the subject matter
hereof.

    

    10.07 Amendment: Except as
otherwise provided herein, any addendum or modification hereto must be signed by
both parties.

    

    10.08 Effective: This
Agreement becomes effective when it is accepted and executed by an authorized
officer of PTSI and shall be binding upon and inure to the benefit of the Client
and PTSI and their respective successors and assigns, except that the Client
shall not have the right to assign its rights thereunder or any interest therein
without PTSI’s prior written consent.

    

    10.09 Indemnification: Client
agrees to indemnify and hold PTSI harmless from any and all liability, claims
and damages, including attorneys’ fees, costs of suit and interest which PTSI
may incur as a result of the failure of Client to pay withholding taxes due and
payable to any taxing authority.

    

    10.10 Notices hereunder: All
notices and communications hereunder shall be given or made to the parties at
their respective addresses set forth below, or at such other address as the
addressee may hereafter specify for the purpose of written notice to the other
party hereto. Such notices and communications shall be effectively given by PTSI
when and if given in writing and delivered to the address set forth herein,
delivered by e-mail, facsimile or duly deposited in the mails with first-class
postage prepaid.

    

    10.11 Costs and Expenses:
Except as is prohibited by law, the Client agrees to pay on demand all costs and
expenses, including (without limitation) attorneys’ fees, incurred by PTSI in
connection with this Agreement and any other related document or agreement, and
the transactions contemplated hereby, including without limitation all such
costs, expenses and fees incurred in connection with the negotiation, due
diligence, preparation, execution, amendment, administration, performance,
collection and enforcement of the obligations and all such documents and
agreements and the creation, perfection, protection, satisfaction, foreclosure
or enforcement of any security interest granted hereunder, the collection of any
Account or any obligation owed by Client to PTSI.

    

    
      
         

      

      
        11

        
          

        

      

      
         

      

       

    

    10.12 Audit: The Client hereby
agrees to pay PTSI, on demand, audit fees in connection with any audits or
inspections conducted by PTSI of any Collateral or the Client’s operations or
business at the rates established from time to time by PTSI as its audit fees,
together with all actual out-of-pocket costs and expenses incurred in conducting
any such audit or inspection.

    

    10.13 Jurisdiction: The
parties hereby (a) consent to the personal jurisdiction of the state and federal
courts located in the State of Colorado in connection with any controversy
related to this Agreement; (b) waive any argument that venue in any such forum
is not convenient, (c) agree that any litigation initiated by PTSI or the Client
in connection with this Agreement shall be venued in either the State Courts of
the City and County of Denver, Colorado or the United States District Court,
District of Colorado, and (d) agree that a final judgment in any such suit,
action or proceeding shall be conclusive and may be enforced in other
jurisdictions by suit on the judgment or in any other manner provided by
law.

    

    10.14 Waiver of Jury Trial:
THE CLIENT HEREBY IRREVOCABLY
WAIVES ALL RIGHTS TO TRIAL

    

    BY
JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM ARISING OUT OF, BASED ON OR
PERTAINING TO THIS AGREEMENT.

     

    
      
         

      

      
        12

        
          

        

      

      
         

      

    

     

    Executed
and accepted this 6th day
of April, 2009 at Denver, Colorado.

    Premier
Trade Solutions, Inc.

    

    

    By:____________________________

    Title:

    Drinks
Americas, Inc.

    

     

    By:_____________________________

    Title:

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