Document:

EX10-2

	
Exhibit 10.2

	

THE SECURITY REPRESENTED BY THIS CERTIFICATE HAS NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE "U.S. SECURITIES ACT ACT") OR APPLICABLE STATE SECURITIES LAWS.  IT MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED OR OTHERWISE TRANSFERRED EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE U.S. SECURITIES ACT AND IN ACCORDANCE WITH ANY APPLICABLE STATE SECURITIES LAWS, OR PURSUANT TO AN EXEMPTION OR EXCLUSION FROM REGISTRATION UNDER THE U.S. SECURITIES ACT AND ANY APPLICABLE STATE SECURITIES LAWS.

PROMISSORY NOTE

 

	
$8,200,000
	
July 28, 2010

Phoenix, Arizona

	
            FOR VALUE RECEIVED, the undersigned, NORD RESOURCES CORPORATION, a Delaware corporation ("Maker"), whose address is 1 West Wetmore, Tucson, Arizona 85705, promises to pay to the order of FISHER SAND & GRAVEL CO., a North Dakota corporation, and its successors and assigns ("Holder"), the principal sum of EIGHT MILLION TWO HUNDRED THOUSAND AND 00/100 DOLLARS ($8,200,000) on or before July 31, 2012 pursuant to this Promissory Note (this "Note"), payable in lawful money of the United States of America from and after the date hereof as set forth above (the "Note Date").  Payments shall be made to Holder at its office at 1320 West Drivers Way, Tempe, AZ 85284 (or such other address as Holder may hereafter designate in writing to Maker).  

            The principal sum and any interest outstanding from time to time under this Note shall bear interest at .115% per week.  

            Maker shall make weekly payments as set forth below.  Payments shall first be applied to interest and then to principal.  Payment for any particular week shall be made by the Friday of the following week (or the subsequent business day should any Friday for which payment is due fall on a federal holiday).  The first payment shall be for the week beginning on July 26, 2010, and due on August 6, 2010.  For any specific week, Maker shall make payments based on the following formulas:  

If Maker ships four (4) or more loads of copper, the weekly payment shall be: 

	
$100,000
	
x
	
Weekly Realized Price

	 	 	
$3.00

	If Maker ships three (3) loads of copper, the weekly payment shall be: 

	
$75,000
	
x
	
Weekly Realized Price

	 	 	
$3.00

	If Maker ships two (2) or fewer loads of copper, the weekly payment shall be: 

	
Note Balance
	
x
	
.00115

	
For purposes of this Note, "Weekly Realized Price" shall mean the price received by Maker for sales during a given week, and "Note Balance" shall mean the outstanding principal balance of this Note at the beginning of a given week.

            Should Maker fail to make payment of any amount when due hereunder, then Holder shall give Maker written notice of same at the address set forth above.  If Maker fails to make such payment within three (3) business days of its receipt of written notice, then the whole sum shall become immediately due and payable at the option of Holder without further notice to Maker.

            IN WITNESS WHEREOF, Maker has executed this Note as of the date first written above.

	NORD RESOURCES CORPORATION, 

a Delaware corporation

By:/s/ Wayne Morrison

Name: Wayne Morrison

Its: VP & CFOex10-1.htm

    
      
        

      

    

    Exhibit
10.1

     

    
      Signal
Nutrition LLC

      247 Kemp
Ave.

      Fair
Haven, NJ 07704

      

      July 27,
2010

      

      PacificHealth
Laboratories

      100
Matawan Rd

      Matawan,
NJ 07747

      

      Based
upon your input I have set forth terms of a consulting agreement.

      

      
        	
                 
      

              	
                I.

              	
                Parties

              

      

      
        	
                 
      

              	
                a.

              	
                This
      consulting agreement is between PacificHealth Laboratories and Signal
      Nutrition LLC

              

      

      

      
        	
                 
      

              	
                II.

              	
                Responsibilities
      of Signal Nutrition, LLC

              

      

      

      
        	
                 
      

              	
                a.

              	
                Science

              

      

      
        	
                 
      

              	
                i.

              	
                Develop
      a cohesive scientific posture for the sales group using new and existing
      studies

              

      

      
        	
                 
      

              	
                ii.

              	
                Work
      with outside researchers to set up new studies that will support and
      extend the benefits of PHLI’s line of endurance
  products

              

      

      
        	
                 
      

              	
                iii.

              	
                Design,
      solicit and review study protocols to be conducted by outside
      investigators

              

      

      
        	
                 
      

              	
                iv.

              	
                Analyze
      any existing research that can be submitted for publication and used in
      marketing and sales efforts

              

      

      
        	
                 
      

              	
                v.

              	
                Assist
      in getting studies published

              

      

      
        	
                 
      

              	
                vi.

              	
                Liaison
      with potential licensees for PHLI
technology

              

      

      

      
        	
                 
      

              	
                b.

              	
                Marketing/Communications

              

      

      
        	
                 
      

              	
                i.

              	
                Analyze
      existing sales data and tactics

              

      

      
        	
                 
      

              	
                ii.

              	
                Formulate
      strategies that can help re-establish PHLI as a leader  in
      sports nutrition

              

      

      
        	
                 
      

              	
                iii.

              	
                Draft
      a 2011 marketing plan based upon product and corporate
    goals

              

      

      
        	
                 
      

              	
                iv.

              	
                Based
      upon approved marketing strategy, develop a detailed communication plan
      that includes elements, tactics, budget and
  timing.

              

      

      
        	
                 
      

              	
                v.

              	
                Manage
      outside creative group to develop creative elements to implement plan
      including ads, consumer, and trade
brochures

              

      

      

      
        	
                 
      

              	
                c.

              	
                New
      products

              

      

      
        	
                 
      

              	
                i.

              	
                Develop
      multiple new product concepts that complement existing endurance line and
      develop specific sales, marketing and science strategies to launch such
      products

              

      

      
        	
                 
      

              	
                ii.

              	
                Work
      with outside formulators to develop commercially viable
      products

              

      

       

      
        
           

        

        
           

          
            

          

        

        
           

        

      

       

      
        	
                 
      

              	
                d.

              	
                Other

              

      

      
        	
                 
      

              	
                i.

              	
                Author
      articles as requested for submission to specialty sports
      journals

              

      

      
        	
                 
      

              	
                ii.

              	
                Give
      lectures and talks as requested to consumers and trade on endurance
      nutrition

              

      

      

      
        	
                 
      

              	
                III.

              	
                Time
      Requirement

              

      

      
        	
                 
      

              	
                a.

              	
                It
      is estimated that Signal Nutrition would spend 80 hours per month in
      execution of this agreement

              

      

      

      
        	
                 
      

              	
                IV.

              	
                Compensation

              

      

      
        	
                 
      

              	
                a.

              	
                PacificHealth
      Laboratories will pay Signal Nutrition a monthly fee $11,000 on the first
      of every month, commencing on September 1,
2010.

              

      

      
        	
                 
      

              	
                b.

              	
                Additionally,
      PacificHealth Laboratories will pay any travel expenses for travel
      requested and approved by PacificHealth
  Laboratories

              

      

      
        	
                 
      

              	
                c.

              	
                After
      6 months, both parties will review the monthly fee and, if necessary, make
      any adjustments based on future anticipated
  activity.

              

      

      

      
        	
                 
      

              	
                V.

              	
                Term

              

      

      
        	
                 
      

              	
                a.

              	
                Subject
      to Article VI below, this agreement will run for 6 months starting on
      August 1, 2010 with the option to renew for an additional 6
      months.

              

      

      

      
        	
                 
      

              	
                VI.

              	
                Termination

              

      

      
        	
                 
      

              	
                a.

              	
                This
      agreement can be terminated by either party on 15 days notice.
      PacificHealth Laboratories will be responsible for paying any fees or
      approved travel expenses thru the date of
  termination

              

      

      

      

       

      
        
          	 	 	Sincerely,	 
	 	 	 	 
	 	 	 	 
	
                   

                	
                   

                	/s/
      Robert Portman	 
	 	 	Dr.
      Robert Portman	 

        

      Agreed
to

       

      
         

        
          
            	/s/
      Fred Duffner	 
	Fred
      Duffner	 
	CEO	 
	PacificHealth
      Laboratories

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