Document:

exhibit_10-2.htm

EXHIBIT 10.2

 

MHM AGREEMENT

 

 

This memorandum Agreement is entered into this 18th day of October, 2010 by and between Ecologix Resource Group, Inc., a Delaware corporation (ECO) and MI-IM Group L LC., a Nevada Limited Liability Company, (MHM).

 

 

WHEREAS ECO is in the business, both directly and through subsidiaries, of cutting, processing and selling hardwood timber internationally,

 

 

WHEREAS ECO's operations are currently headquartered in Cameroon and require substantial transportation expertise, financial resources and the availability of heavy trucks and related equipment, and

 

 

WHEREAS MHM has represented that it has the necessary experience and expertise, to coordinate and facilitate ECO's need of transportation with local Cameroonian trucking company for the type and amount of trucks to meet ECO's current and anticipated needs for the foreseeable future in Cameroon.

 

NOW THEREFORE the parties have entered into this agreement on the date set forth above and for good and valuable consideration. The recitals above are an integral part of this Agreement.

 

1.    MHM BASIC RESPONSIBILITIES MHM in good faith will use their best efforts in coordinating between ECO and the trucking company selected by MHM that will be performing the trucking transport for ECO. MHM will use their best effort to facilitate all ECO timber transportation services requested and needed by ECO, its subsidiaries and affiliates as such will vary from time to time in Cameroon with the trucking company that MHM will introduce to ECO for their trucking needs in Cameroon. MHM will request from the trucking company to supply all necessary timber trucks and trailers with necessary drivers and fuel to transport ECO timber, both logs and sawn wood, to the ports in Cameroon or the Lot that ECO designates in Cameroon. MHM will determine that the trucking company can fulfill its duties. The Loading and unloading is the responsibility of ECO. ECO promises to load and unload the trucks in a timely manner. The parties understand that the number of timber trucks and related services may vary from day to day in relation to ECO and its customer's orders.

 

2.    ECO RESPONSIBILITIES. ECO will use its best effort to advise MHM of its projected and scheduled needs for trucks for delivery of timber with reasonable advance notice. ECO shall load and unload the trucks in and on ECO properties, which shall all have customary access roads to loading areas. ECO shall endeavor to provide (7) seven days advance notice of its needs when possible and MHM shall use its best efforts to continuously satisfy ECO's needs.

  

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MHM AGREEMENT

 

MHM in good faith will use their best effort to accommodate the coordination with the trucking company for the transportation needs as requested by ECO.

 

3. MHM COMPENSATION. MHM shall be compensated on the following basis and manner:

 

	
  

	
a.

	
MHM shall be paid $45 dollars (US) per truckload for truckloads one to 200 per month, $40 dollars per truckload for truckloads 201 to 400 per month and $35 per truckload for every load over 400 per month. Payment shall be made on a per truckload basis 15 days after the transport truck arrives at the Eco Yard.

 

	
  

	
b.

	
As reimbursement for its substantial set up expenses MHM shall receive 10,000,000 restricted common shares of ECO at the time of delivery of the first truckload by MHM.

 

	
  

	
c.

	
MHM shall receive a monthly issuance at the end of each quarter of options to purchase 2,500 shares for every timber truckload delivered to the port. The exercise price will be equal to the market price of ECO common stock on the 15th of the month of issuance. The options shall be for (5) five years. MHM will receive a minimum monthly issuance of 50,000 options at the end of each month at the rate of 2,500 shares per truckload.

 

	
  

	
d.

	
MHM may sell not sell more than 20% of the previous days trading volume of Ecologix common stock in any one day.

 

	 	
e.

	
Numbers of shares shall be adjusted for stock splits, stock dividends and the like. Such shares as are issued pursuant to this agreement are "restricted securities" as defined by Rule 144 under the Securities Act of 1933, as amended, (the "Securities Act") and shall be otherwise restricted as provided below. The certificates evidencing such shares shall bear the following restrictive legends:

 

The shares evidenced by this certificate have not been registered under the Securities Act of 1933, as amended (the "Securities Act"), and may not be sold or otherwise transferred unless registered under the Securities Act or there is an opinion front counsel to the Company that such sale or other transfer may be made pursuant to an exemption front the registration requirement of the Securities Act.

 

  

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MHM AGREEMENT

 

This stock certificate and the shares represented thereby are issued and shall be held subject to those particular qualifications, limitations and restrictions concerning the sale or transfer of stock as set forth in the AGREEMENT dated as of October 18, 2010 between MI-1M, on the one hand. and ECO on the other, which matters are hereby referred to and made a part hereof to all of which the holder of this certificate assents.

 

4. MHM DISCLOSURE. MHM has disclosed and will continue to disclose to ECO all material information respecting the matters that are the subject of this Agreement.

 

5.TAXES MHM shall be responsible for any and all tax liability for any consideration it receives pursuant to this Agreement, and acknowledges that it shall seek it's own tax advice and is not relying upon any tax advice or representation regarding tax liability from ECO.

 

6.      LEGAL COMPLIANCE: MHM shall comply with all laws, rules and regulations in the US and Cameroon, including obtaining and keeping current any necessary licenses and permits.

 

7.      TIME: This Agreement shall be for a period of three (3) years from the date hereof unless terminated for cause by either party upon 90 days written notice.

 

8.      NON COMPETE MHM shall not compete in Cameroon, directly or indirectly, with ECO including without limitation engaging in any business activity in which ECO is engaged in throughout the term of this Agreement.

 

9.      NON DISCLOSURE   During the term of this Agreement and thereafter, MHM shall not, without the prior written consent of management of ECO, disclose or use for any purpose confidential information or proprietary data of ECO, except as required  by applicable law or legal process; provided, however, that "confidential information" shall not include any information known generally to the public or ascertainable from public or published information (other than as a result of unauthorized disclosure by MHM) or any information of a type not otherwise considered confidential by persons engaged in the same business or a business similar to that conducted by ECO.

 

  

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MHM AGREEMENT

 

 

10).       MODIFICATION  No provision of this Agreement shall be modified, waived or discharged unless the modification, waiver or discharge is agreed to in writing and signed by an authorized officer of ECO & MHM. No waiver by either party of any breach of, or of compliance with, any condition or provision of this Agreement by the other party shall be considered a waiver of any other condition or provision or of the same condition or provision at another time.

 

11.        COMPLETE AGREEMENT No agreements, representations or understandings (whether oral or written and whether express or implied) which are not expressly set forth in this Agreement have been made or entered into by either party with respect to the subject matter hereof

 

12.      CHOICE OF LAW, JURISDICTION The validity, interpretation, construction and performance of this Agreement shall be governed by the laws of the State of California (other than choice-of-law provisions). Each party submits to the exclusive jurisdiction and venue of the Federal and State Courts of the State of California for resolution of any dispute, claim or controversy arising out of or relating to this Agreement.

 

13.      ADVICE OF COUNSEL Each party acknowledges that it has been advised by and consulted with legal counsel prior to signing this Agreement and that it is entering into this Agreement knowingly and voluntarily.

 

  

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MHM AGREEMENT

 

 

 

14.       CONSENT, ASSIGNMENT Neither party shall assign any right or delegate any obligation hereunder without the other party's written consent, and any purported assignment or delegation by a party hereto without the other party's written consent shall be void. This Agreement shall be binding upon and inure to the benefit of ECO and its successors and MHM, and its successors.

 

15.       COUNTERPARTS  This document may be executed in multiple counterparts, each of which shall be considered an original. Electronically or facsimile signatures shall be deemed valid as originals.

 

IN WITNESS WHEREOF, each of the parties has executed this Agreement by its duly authorized officer effective as of the date indicated above.

 

	 	Ecologix Resource Group, Inc	 
	 	 	 	 
	
 

	
By: 

	/s/ Robert Radoff	 
	 	 	 	 
	 	Robert Radoff, President	 
	 	 	 	 
	 	 	 	 
	 	

MHM Group LLC.

	 
	 	 	 	 
	 	

By:

	/s/ Hisham Elzein	 
	 	 	 	 
	 	Hisham Elzeinexhibit_10-3.htm

EXHIBIT 10.3

 

 

THIS NOTE AND THE SECURITIES ISSUABLE UPON THE CONVERSION HEREOF HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”). NEITHER THIS NOTE NOR THE SECURITIES ISSUABLE UPON ITS CONVERSION MAY BE SOLD, TRANSFERRED, PLEDGED, HYPOTHECATED OR OTHERWISE DISPOSED OF UNLESS COVERED BY AN EFFECTIVE REGISTRATION STATEMENT UNDER THE ACT, PURSUANT TO RULE 144 UNDER THE ACT, IF AVAILABLE, OR AN OPINION FROM COUNSEL TO THE HOLDER, REASONABLY SATISFACTORY TO COUNSEL TO MAKER, THAT AN EXEMPTION FROM  REGISTRATION IS AVAILABLE UNDER THE ACT.

 

Ecologix Resources Inc. a/k/a Battery Control Corp.

18% Senior Convertible Promissory Note

Due December 29, 2009

 

	US $850,000.00	June 29, 2009

 

Ecologix Resources Inc. a/k/a Battery Control Corp., a public company, trading on the OTCBB under the symbol BATY.OB, organized under the laws of the Delaware (the “Company” or the “Maker”), for value received, hereby promises to pay to Marvin Mermelstein, a natural person, or its registered assigns (the "Payee" or the "Holder"), at 6500 North Hamlin, Lincolnwood IL, upon due presentation and surrender of this 18% Convertible Promissory Note (this “Note”) on December 29, 2009 (the “Maturity Date”), the principal amount $750,000 of the total Senior Note of Eight Hundred Fifty Thousand Dollars ($850,000.00) and accrued interest thereon as hereinafter provided.

 

ARTICLE I

PAYMENT OF PRINCIPAL AND INTEREST; METHOD OF PAYMENT

 

1.1   Payment of Principal and Interest. Payment of the principal and accrued interest on this Note shall be made in such coin or currency of the United States of America as at the time of payment shall be legal tender for the payment of public and private debts. Interest (computed on the basis of a 360-day year for the number of days elapsed) on the unpaid portion of said principal amount from time to time outstanding shall be paid by the Company at the rate of Eighteen Percent (18%) per annum, in like coin and currency, on a monthly basis. Interest shall accrue from the date set forth above (the “Issuance Date"). Both principal hereof and interest thereon are payable at the Holder's address above or such other address as the Holder shall designate from time to time by written notice to the Company. The Company will pay or cause to be paid all sums becoming due hereon for principal and interest by check, sent to the Holder's above address or to such other address as the Holder may designate for such purpose from time to time by written notice to the Company, without any requirement for the presentation of this Note or making any notation thereon, except that the Holder hereof agrees that payment of the final amount due shall be made only upon surrender of this Note to the Company for cancellation. Principal payments shall be paid monthly based up 10% of Sales of the Company for the proceeding month.

 

Prior to any sale or other disposition of this instrument, the Holder hereof agrees to endorse hereon the amount of principal paid hereon and the last date to which interest has been paid hereon and to notify the Company of the name and address of the transferee in accordance with the terms of Section 2.2 of this Note.

 

  

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1.2   Additional Payments. In addition to the payment of principal and interest as described above, the holder of this note shall be entitled to the following:

 

a.    Warrants

(i)    Eight Hundred Fifty Thousand (850,000.) cashless warrants priced at 1 cent ($0.01) “penny warrants.” Holder, depending on their pro-rata amount invested, shall receive they pro-rata amount of warrants. Each $1.00 advanced under this Note shall entitle the Holder to receive one warrant.

 

1.3   Extension of Payment Date. If this Note becomes due and payable on a Saturday, Sunday or other day on which banks in the State of New York are authorized to remain closed, the due date hereof shall be extended to the next succeeding full Business Day. “Business Day" shall mean a day other than a Saturday, Sunday or other day on which banks in the State of New York are authorized by law to remain closed. All payments received by the Holder shall be applied first to the payment of all accrued interest payable hereunder.

 

ARTICLE II

CONVERSION

 

2.1   Conversion into Common Stock at Option of Holder. At any time and from time to time until the Maturity Date, this Note is convertible in whole or in part at the Company's option into shares of the Company’s common stock (the “Common Stock”) at $1.00 per share. However if the Company is default of payment, the Holder may elect to convert, by a written notice of conversion in the form of Attachment I hereto (a “Conversion Notice”) one sixth of the principal and interest per month at a 10% discount to market based upon a forward 10 day Volume Weighted Average Price (VWAP). Interest shall accrue to and through the day prior to the date of conversion (which shall be the date that this Note and the duly executed Conversion Notice is deemed to be delivered hereunder). The number of shares of Common Stock issuable upon conversion hereunder shall be determined by dividing (X) sum of (a) the outstanding principal of this Note being converted plus (b) the accrued and unpaid interest payable with respect to the principal amount of this Note being converted by (Y) the Conversion Price then in effect. No fractional shares or scrip representing fractional shares will be issued upon any conversion, but an adjustment in cash will be made, in respect of any fraction of a share (which will be valued based upon the Conversion Price then in effect) which would otherwise be issuable upon the surrender of this Note for conversion. As soon as practicable following conversion and upon the Holder's compliance with the conversion procedure described in Section 2.2 hereof, the Company shall deliver a certificate for the number of full shares of Common Stock issuable upon conversion and a check for any fractional share and, in the event the Note is converted in part, a new Note of like tenor in the principal amount equal to the remaining principal balance of this Note after giving effect to such partial conversion.

 

2.2   Transfer of Note; Conversion Procedure. This Note is not divisible. This Note and all rights hereunder may be sold, transferred or otherwise assigned to any person in accordance with and subject to the provisions of the Securities Act of 1933, as amended (the "Securities Act"), and the rules and regulations promulgated thereunder. Upon the transfer of this Note through the use of the assignment form attached hereto as Attachment II, and in accordance with applicable law or regulation and the payment by the Holder of fund s sufficient to pay any transfer tax, the Company shall issue and register this Note in the name of the new holder.

 

  

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The Company shall convert this Note upon surrender thereof for conversion properly endorsed and accompanied by a properly completed and executed Conversion Notice attached hereto as Attachment I and any documentation deemed necessary by the Company showing the availability of an exemption under applicable state and federal securities laws. Subject to the terms of this Note, upon surrender of this Note and the delivery of the Conversion Notice, the Company shall issue and deliver with all reasonable dispatch to or upon the written order of the Holder of such Note and in such name or names as such Holder may designate, a certificate or certificates for the number of full shares of Common Stock due to such Holder upon the conversion of this Note. The person or persons to whom such certificate or certificates are issued by the Company shall be deemed to have become the holder of record of such shares of Common Stock as of the date of the surrender of this Note. Upon conversion, the Holder will be required to execute and deliver any documentation deemed necessary by the Company showing the availability of an exemption under applicable state and federal securities laws.

 

2.3   Covenants.

 

(a)           Issuance and Shares of Common Stock upon Conversion. The Company covenants that it will at all times reserve and keep available, free from preemptive rights, out of its authorized Common Stock, solely for the purpose of issuance upon conversion of this Note, such number of shares of Common Stock as shall equal the aggregate number of shares of Common Stock that would be issued under this Note if fully converted. The Company also covenants that all of the shares of Common Stock that shall be issuable upon conversion of this Note shall, at the time of delivery, be duly and validly issued, fully paid, non-assessable and free from all taxes, liens and charges with respect to the issue thereof (other than those which the Company shall promptly pay or discharge).

 

(b)           Restrictive Legend. Each certificate evidencing shares of Common Stock issued to the Holder following the conversion of this Note shall bear the following restrictive legend until such time as the transfer of such security is not restricted under the federal securities laws:

 

THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED, SOLD, ASSIGNED, TRANSFERRED, PLEDGED, ENCUMBERED OR OTHERWISE DISPOSED OF EXCEPT PURSUANT TO (I) AN EFFECTIVE REGISTRATION STATEMENT UNDER THE ACT, (II) TO THE EXTENT APPLICABLE, RULE 144 UNDER THE ACT (OR ANY SIMILAR RULE UNDER SUCH ACT RELATING TO THE DISPOSITION OF SECURITIES), OR (III) AN OPINION OF COUNSEL, IF SUCH OPINION SHALL BE REASONABLY SATISFACTORY TO COUNSEL TO THE ISSUER, THAT AN EXEMPTION FROM REGISTRATION UNDER SUCH ACT IS AVAILABLE.

 

2.4   Adjustment of Conversion Price and Number of Underlying Shares. The number of shares of Common Stock issuable upon the conversion of this Note and the Conversion Price shall be subject to adjustment from time to time as follows:

 

  

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(a)           Dividends; Reclassifications, etc. In the event that the Company shall, at any time prior to the earlier to occur of (i) the complete conversion of this Note and (ii) the Maturity Date: (A) declare or pay to the holders of the Common Stock a dividend payable in any kind of shares of capital stock of the Company; (B) change or divide or otherwise reclassify its Common Stock into the same or a different number of shares with or without par value, or in shares of any class or classes; (C) transfer its property as an entirety or substantially as an entirety to any other company or entity; or (D) make any distribution of its assets to holders of its Common Stock as a liquidation or partial liquidation dividend or by way of return of capital; then, upon the subsequent conversion of this Note, the Holder shall receive, in addition to or in substitution for the shares of Common Stock to which it would otherwise be entitled upon such exercise, such additional shares of stock or scrip of the Company, or such reclassified shares of stock of the Company, or such shares of the securities or property of the Company resulting from transfer, or such assets of the Company, which it would have been entitled to receive had it converted this Note into shares of Common Stock prior to the happening of any of the foregoing events.

 

(b)           Reorganization of the Company. If the Company is a party to a merger or other transaction which reclassifies or changes its outstanding Common Stock, upon consummation of such transaction, this Note shall automatically become convertible into the kind and amount of securities, cash or other assets which the Holder would have owned immediately after such transaction if the Holder had converted this Note into shares of Common Stock at the Conversion Price in effect immediately before the effective date of the transaction. Concurrently with the consummation of such transaction, the person obligated to issue securities or deliver cash or other assets upon exercise of this Note shall execute and deliver to the Holder a new Note so providing and further providing for adjustments which shall be as nearly equivalent as may be practical to the adjustments provided in this Section 2.4(b). The successor company also shall mail to the Holder a notice describing the new Notes.

 

ARTICLE III

MISCELLANEOUS

 

3.1   Default. If one or more of the following described events (each of which being an “Event of Default” hereunder) shall occur and shall be continuing,

 

(a)           the Company shall breach, fail to perform, or fail to observe in any material respect any material covenant, term, provision, condition, agreement or obligation of the Company under this Note, and such breach or failure to perform shall not be cured within ten (10) days after written notice to the Company; or

 

(b)           bankruptcy, reorganization, insolvency or liquidation proceedings or other proceedings for relief under any bankruptcy law or any law for the relief of debtors shall be instituted by or against the Company and, if instituted against the Company, Company shall by any action or answer approve of, consent to or acquiesce in any such proceedings or admit the material allegations of, or default in answering a petition filed in any such proceeding or such proceedings shall not be dismissed within forty-five (45) calendar days thereafter; or

 

(c)           the Company shall have failed to pay the principal amount and accrued and unpaid interest hereunder when due; then, or at any time thereafter, and in each and every such case, unless such Event of Default shall have been waived in writing by the Holder (which waiver shall not be deemed to be a waiver of any subsequent default) or cured as provided herein, at the option of the Holder, and in the Holder’s sole discretion, the Holder may consider the entire principal amount of this Note (and all interest through such date) immediately due and payable in cash, without presentment, demand protest or notice of any kind, all of which are hereby expressly waived, anything herein or in any note or other instruments contained to the contrary notwithstanding, and Holder may immediately enforce any and all of the Holder’s rights and remedies provided herein or any other rights or remedies afforded by law. It is agreed that in the event of such action, the Holder shall be entitled to receive all reasonable fees, costs and expenses incurred, including without limitation such reasonable fees and expenses of attorneys.

 

 

  

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3.2   Senior Debt. This Note represents Senior Debt of the Company. The Company may not issue any additional Senior Debt, without the express written consent of the majority of the then Note holders.

 

3.3           Additional Shares. The Holder shall be entitled to additional shares for a period of eighteen (18) months from the date of this Note, if the Company sells any shares (other than employee stock options) at the same price as the newly sold shares, if that price is lower than the price contained herein for unconverted or outstanding debt and interest at the time of said sale.

 

3.4   Collection Costs. In the event that this Note shall be placed in the hands of an attorney for collection by reason of any Event of Default hereunder, the undersigned agrees to pay reasonable attorney’s fees and disbursements and other reasonable expenses incurred by the Holder in connection with the collection of this Note.

 

3.5   Prepayment. The principal amount of this Note and any accrued and unpaid interest thereon may be prepaid, in whole or in part, at any time without penalty or premium, at the discretion of the Company upon ten (10) days written notice to Holder; provided, however that holder shall be entitled to convert this Note in accordance with the terms hereof during such ten (10) day period.

 

3.6   Rights Cumulative. The rights, powers and remedies given to the Holder under this Note shall be in addition to all rights, powers and remedies given to it by virtue of any document or instrument executed in connection therewith, or any statute or rule of law.

 

3.7   No Waivers. Any forbearance, failure or delay by the Payee in exercising any right, power or remedy under this Note, any documents or instruments executed in connection therewith or otherwise available to the Holder shall not be deemed to be a waiver of such right, power or remedy, nor shall any single or partial exercise of any right, power or remedy preclude the further exercise thereof.

 

3.8   Amendments in Writing. No modification or waiver of any provision of this Note, or any documents or instruments executed in connection therewith shall be effective unless it shall be in writing and signed by the Holder, and any such modification or waiver shall apply only in the specific instance for which given.

 

3.9   Governing Law. This Note and the rights and obligations of the parties hereto, shall be governed, construed and interpreted according to the laws of the State of New York.

  

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3.10   Successors. The term “Payee” and “Holder” as used herein shall be deemed to include the Payee and its successors, endorsees and assigns.

 

3.1   Stamp or Transfer Tax. The Company will pay any documentary stamp or transfer taxes attributable to the initial issuance of the Common Stock issuable upon the conversion of this Note; provided, however, that the Company shall not be required to pay any tax or taxes which may be payable in respect of any transfer involved in the issuance or delivery of any certificates for the Common Stock in a name other than that of the Holder in respect of which such Common Stock is issued, and in such case the Company shall not be required to issue or deliver any certificate for the Common Stock until the person requesting the same has paid to the Company the amount of such tax or has established to the Company’s satisfaction that such tax has been paid.

 

3.12   Mutilated, Lost, Stolen or Destroyed Note. In case this Note shall be mutilated, lost, stolen or destroyed, the Company shall issue and deliver in exchange and substitution for and upon cancellation of the mutilated Note, or in lieu of and substitution for the Note, mutilated, lost, stolen or destroyed, a new Note of like tenor and representing an equivalent right or interest, but only upon receipt of evidence reasonably satisfactory to the Company of such loss, theft or destruction and an indemnity, if requested, also reasonably satisfactory to it.

 

3.13   No Rights as Shareholder. Nothing contained in this Note shall be construed as conferring upon the Holder the right to vote or to receive dividends or to consent or to receive notice as a shareholder in respect of any meeting of shareholders for the election of directors of the Company or of any other matter, or any rights whatsoever as shareholders of the Company.

 

3.14   Notices. Any and all notices or other communications or deliveries to be provided by the Holder hereunder, including, without limitation, any Conversion Notice shall be in writing and delivered personally, sent by a nationally recognized overnight courier service or sent by certified or registered mail, postage prepaid, addressed to the Company at  , attention: President, or such other address as the Company may specify for such purpose by notice to the Holder delivered in accordance with this Section. Any and all notices or other communications or deliveries to be provided by the Company hereunder shall be in writing and delivered personally or sent by a nationally recognized overnight courier service or sent by certified or registered mail, postage prepaid, addressed to the Holder, at the address appearing on the books of the Company, or if no such address appears, at the principal place of business of Holder. Any notice or other communication or deliveries hereunder shall be deemed given and effective on the earlier of (i) four days after deposit in the United States mail, (ii) the business day following the date of mailing, if sent by nationally recognized overnight courier service, or (iii) upon actual receipt by the party to whom such notice is required to be given.

 

IN WITNESS WHEREOF, Ecologix Resources Inc. a/k/a Battery Control Corp. this Note to be duly executed and delivered as of the date first above written.

 

	 	 	

Ecologix Resources Inc.

	 
	 	 	 	 
	
 

	
By: 

	/s/ Jason Fine	 
	 	Name:	Jason Fine	 
	 	Title:	Chief Executive Officer	 
	 	 	 	 

 

 

 

 

  

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ATTACHMENT I

 

CONVERSION NOTICE

 

TO: Ecologix Resources, Inc.

 

The undersigned holder of this Note hereby irrevocably exercises the option to convert $ principal amount of such Note (which may be less than the stated principal amount thereof) and $_____ of accrued and unpaid interest (which may be less than the aggregate amount of accrued and unpaid interest into shares of Common Stock of Ecologix Resources, Inc., in accordance with the terms of such Note, and directs that the shares of Common Stock issuable and deliverable upon such conversion, together with a check (if applicable) in payment for any fractional shares as provided in such Note, be issued and delivered to the undersigned unless a different name has been indicated below. If shares of Common Stock are to be issued in the name of a person other than the undersigned holder of such Note, the undersigned will pay all transfer taxes payable with respect thereto.

Address of Holder

 

	 	 	 
	 	 	 
	 	 	 
	 	 	

Print Name of Holder

	 	 	 
	 	 	 
	 	 	Signature of Holder

 

Principal amount of Note to be converted $__________

 

If shares are to be issued otherwise then to the holder:

 

Address of Transferee

	 	 	 
	 	 	 
	 	 	 
	 	 	

Print Name of Transferee

	 	 	 
	 	 	 
	 	 	
Social Security or Employer Identification 

Number of Transferee

 

 

 

  

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ATTACHMENT II

Assignment

 

For value received, the undersigned hereby assigns to _____________, $_____________ principal amount of __% Convertible Promissory Note due December 29, 2009, evidenced hereby and hereby irrevocably appoints  attorney to transfer the Note on the books of the within named corporation with full power of substitution in the premises.

Dated:

 

In the presence of:

 

	 	 	 
	 	 	

Print Name

	 	 	 
	 	 	 
	 	 	 
	 	 	

Signature

 

 

 

 

 

 

 

 

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