Document:

ex10-35.htm

Exhibit 10.35

    

    THIS
      DEED OF VARIATION TO THE LOAN AGREEMENT DATED 9TH
      NOVEMBER 2005 is made on  18th
      June
      2007.

    

    

    BETWEEN:

    

    

    OOO
      ZAURALNEFTEGAZ, a limited liability company incorporated under the
      laws of the Russian Federation under the main state registration number (ORGN)
      1024500513950, located at 27 Lenin Street, Kurgan, 640000, Kurgan Oblast,
      Russian Federation (“ZNG”); and

    

    CASPIAN
      FINANCE LIMITED, a company incorporated in England and Wales under
      company number 05530897 and whose registered office is at Millennium Bridge
      House, 2 Lambeth Hill, London EC4V 2AJ United Kingdom
      (the “Lender”).

    

     

    WHEREAS:

    

    
      	
              A.

            	
              ZNG
                and the Lender entered into a loan agreement on 9th
                November
                2005 (“Loan Agreement”), whereby, inter alia, the Lender
                agreed to make available to ZNG a new loan facility of US$6,874,325
                (the
                “Initial
                Facility”).

            

    

    

    
      	
              B.

            	
              ZNG
                and the Lender further entered into a Deed of Variation of the Loan
                Agreement dated 16 January 2007 (“Jan Agreement”)
                whereby, inter alia, the Lender agreed to make available to ZNG an
                additional loan facility of US$2,000,000 (“Jan
                Facility”)

            

    

    

    
      	
              C.

            	
              ZNG
                and the Lender further entered into an additional Deed of Variation
                of the
                Loan Agreement dated 23rd
                April 2007
                (“Apr Agreement”) whereby, inter alia, the Lender agreed
                to make available to ZNG an additional loan facility of US$300,000
                (“Apr Facility”) (together the Loan Agreement, the Jan
                Agreement, the Apr Agreement and this Deed are referred to as the
                “ZNG Loan
                Agreements”).

            

    

    

    
      	
               D.

            	
              ZNG
                has drawn down in full each of the Initial Facility and the Jan Facility.
                The Apr Facility has at the date hereof been drawn down in the amount
                of
                US$156,276.41.

            

    

    

    
      	
               E.

            	
              The
                Lender is willing to make available to ZNG a further additional loan
                amount of US$7,359,190 (the “Additional Loan”) upon and
                subject to the terms of this Deed and the Loan
                Agreement.

            

    

    

    

    IT
      IS THEREFORE AGREED AS FOLLOWS:

    

    
      	
              1.

            	
              Terms
                and Definitions

            

    

     

    
      	
              1.1

            	
              Terms
                and Definitions used in this Deed shall have the same meaning as
                given in
                the Loan Agreement unless otherwise defined herein or the context
                otherwise requires.

            

    

     

    
      	
              1.2

            	
              Save
                as expressly varied or amended by or otherwise stated in this Deed,
                the
                terms and conditions of the Loan Agreement shall remain in full force
                and
                legal effect and shall apply
                to this Deed and the Additional Loan mutatis
                mutandis.

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
      	
               

            	
            

    

     

    
      	
              2.

            	
              Loan
                and Purpose

            

    

     

    The
      Lender hereby agrees to lend to ZNG, upon and subject to the terms of this
      Deed
      and the Loan Agreement, a further loan amount of US$7,359,190 (“Additional Loan
      Sum”). The terms relating to the Commitment in the Loan Agreement shall, where
      relevant, refer to the Additional Loan Sum for the purpose of this
      Deed.

     

    
      	
              3.

            	
              Drawdown

            

    

     

    The
      Drawdown Notice to be used for the Additional Loan must be in the form set
      out
      in Schedule 1 to this Deed or in such other form as may be acceptable to Lender
      and shall relate to only to the party and the purpose set out in the agreed
      work
      programme and budget for ZNG attached as Schedule 2 to this deed.  The
      Drawdown Notice shall specify the Drawdown Date and the amount of the
      Advance.

     

    
      	
              4.

            	
              Variation

            

    

     

    
      	
              4.1

            	
              The
                Lender and ZNG hereby agree to delete clause 6.2 of the Loan Agreement
                as
                follows and replace the same as follows for all purposes with effect
                from
                the date of the Loan Agreement:

            

    

     

    “6.2
      Interest will be calculated and accrue on a compound daily basis: (calculated
      on
      a year of 365 days and number of days elapsed) and added daily to the
      outstanding total loan amounts outstanding by ZNG under all or any of the ZNG
      Loan Agreements from  time to time .

     

    Interest
      is payable with effect as follows:

     

    
      	
               

            	
              a)

            	
              the
                earlier of (i) the date on which ZNG’s monthly turnover as shown by its
                monthly management accounts exceeds US$200,000 and (ii) the fifth
                anniversary of this Deed; and

            

    

     

    
      	
               

            	
              b)

            	
              thereafter,
                on a monthly basis on the final day of each calendar month using
                all
                available turnover provided that if the interest due in any amount
                thereafter exceeds the monthly turnover of ZNG then all of the turnover
                save for the direct budgeted operating expenses of ZNG and management
                fees
                agreed to be paid to SEG under the Joint Venture Agreement shall
                be
                allocated prior to the payment of the said interest and any interest
                not
                able to be paid under this clause 4.1(b) shall accrue and be payable
                as
                soon as the level of turnover (less the said SEG fees)
                permits.”

            

    

     

    
      	
              4.2

            	
              Clause
                4.5, 8.1and 8.3 of the Loan Agreement shall not apply to the Additional
                Loan Sum. The work programme and budget attached at schedule 2 hereto
                shall replace the Work Programme and Budget in respect of the Additional
                Loan.

            

    

     

    
      	
              5.

            	
              Warranties

            

    

     

    ZNG
      hereby repeats all of the representations and warranties in clause 12 of the
      Loan Agreement with effect from the date hereof and further represents to the
      Lender that no Event of Default has occurred.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    .

     

    
      	
              6.

            	
              Notices

            

    

     

    Any
      notice to be given pursuant to the terms of this Deed shall be given in writing
      to the party due to receive such notice at the address stated below or such
      other address as may have been notified to the other parties in accordance
      with
      this clause.  Notice shall be delivered personally or sent by first
      class pre-paid recorded delivery or registered post (air mail if overseas)
      or by
      facsimile transmission to the numbers and parties detailed below and shall
      be
      deemed to be given in the case of delivery personally on delivery and in the
      case of posting (in the absence of evidence of earlier receipt) 48 hours after
      posting (six days if sent by air mail) and in the case of facsimile transmission
      on completion of the transmission provided that the sender shall have received
      printed confirmation of transmission.

     

    
      	
              ZNG:

              c/o
                Zauralneftegaz Limited

              18b
                Charles Street

              London
                W1J 5DU

              United
                Kingdom

               

              With
                a copy to:

               

              Siberian
                Energy Group Inc.

              275
                Madison Avenue

              6th
                floor

              New
                York, NY 10016

              USA

            	
              Attn.:

               

              Company
                Secretary

               

               

              Attn:

               

              David
                Zaikin

            	
              Fax:

               

              +44
                20 7667 6471

               

               

              Fax:

               

              +1
                (905) 771-9198

            
	
              The
                Lender:

               

              Caspian
                Finance Limited

              c/o
                Salans

              Millennium
                Bridge House

              2
                Lambeth Hill

              London
                EC4V 2AJ

              United
                Kingdom

            	
              Attn
                :

               

              Laura
                Raynor

            	
              Fax:

               

              +44
                20 7429 6001

            

    

    

     

    
      	
              7.

            	
              Law
                and Disputes

            

    

     

    This
      Agreement shall be governed by and construed in accordance with the laws of
      England.  Any dispute arising out of or in connection with this
      Agreement, including any question regarding its existence, validity or
      termination, or the legal relationships established by this Agreement, shall
      be
      referred to and finally resolved by arbitration under the Rules of the London
      Court of International Arbitration, which Rules are deemed to be incorporated
      by
      reference into this clause.  All arbitration proceedings shall be
      conducted in English before a single arbitrator in London. Judgment on any
      resulting award may be entered in any court having jurisdiction over the
      affected party, and may be executed against the assets of the affected party
      in
      any jurisdiction.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
 

    The
      arbitrator shall have jurisdiction to award, and shall award, the prevailing
      party its reasonable attorneys fees, costs and expenses.

     

    
      	
              8.

            	
              Language

            

    

     

    This
      Deed
      may be executed in English and in Russian.  In case of any conflict
      between the English and Russian versions, the terms of the English version
      shall
      prevail.

     

    

    

    IN
      WITNESS WHEREOF, the parties have executed this Deed as of the date
      first above written.

    

    
      	
              Executed
                as a Deed by

              OOO
                ZAURALNEFTEGAZ:

            	
                          /S/
                Oleg Zhuravlev

              Authorised
                signatory [General
                Director]

                              Oleg
                Zhuravlev

              Name

            

    

     

    
      	
              Executed
                as a Deed by

              CASPIAN
                FINANCE LIMITED

              acting
                by two Directors/

              a
                Director and the Secretary:

            	
              /S/
                Simon
                Escott

              Director

              Simon
                Escott

              Name

              /S/
                Robert
                Wilde

              Director/Secretary

              Robert
                Wilde

              Name

            

    

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

     SCHEDULE
      1

    

    Form
      of Request for an Advance

    

    
      	
              To:

            	
              Caspian
                Finance Limited
                (“Lender”)

            

    

     

    
      	
              From:

            	
              OOO
                Zauralneftegaz.
                (“ZNG”)

            

    

     

    Date                   2007

     

    Request
      for an Advance

    

    We
      refer
      to the loan agreement dated 9th November
      2005 (as
      varied by the Deed of Variation of Loan Agreement dated   June
      2007) between ZNG and the Lender (the “Loan
      Agreement).  Terms defined in the Loan Agreement have the
      same meaning in this letter and references to clauses in this letter are
      references to clauses of the Loan Agreement.

     

    We
      wish
      to borrow an Advance subject to the terms and conditions of the Agreement as
      follows:

     

    (a)           Amount:                      [                                ]

     

    (b)           Purpose:                      [Specify
      purpose]

     

    (c)           Drawdown
      Date:

     

    (d)           Payment
      instructions: [To bank as detailed in clause 3.2 ]

     

    We
      confirm that the conditions set out in clause 3 will be satisfied on the
      Drawdown Date for the proposed Advance.

     

    
      	
               

            	
              Yours
                faithfully

            

    

     

    

    
      	
               

            	
              By:

            

    

     

    

     

    
      	
               

            	
              Authorised
                Signatory

            

    

    
      	
               

            	
              for
                and on behalf of

            

    

    
      	
               

            	
              OOO
                Zauralneftegaz

            

    

    

     

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

     

    
 

     

    SCHEDULE
      2

    

    Work
      Programme and Business Planex10-1.htm

Exhibit 10.1

    This
      agreement (the “Agreement”) is made and entered into as of
      this
      __________             day
      of August, ______, 2007 (the “Agreement Date”) by and between NuTech Digital,
      Inc., a California corporation (“NuTech”) and Jump Communications, Inc., a
      Nevada corporation (“Jump”), hereinafter jointly referred to as the
“Companies”:

    

    Whereas,
      the Management and Boards of Directors of NuTech and Jump have determined that
      a
      sale of assets and grant of licenses by Jump to NuTech is advisable and in
      the
      best interests of their respective companies and shareholders, and NuTech
      desires to purchase assets from Jump and to accept the licenses granted,
      and

    

    Whereas,
      the Management and Boards of Directors of NuTech and Jump have determined that
      it is in the best interests of their respective Companies and shareholders
      to
      establish subsidiaries of NuTech in order to more efficiently and effectively
      carry on the business of NuTech, and

    

    Whereas,
      NuTech and Jump desire to make certain representations, warranties, covenants
      and agreements in connection with this Agreement.

    

    NOW,
      THEREFORE, in consideration of the foregoing and the mutual promises,
      covenants and conditions contained herein, the parties hereby agree as
      follows:

    

    1.
      Closing. The closing of the transactions contemplated by this
      Agreement (the “Closing”), shall take place at 1:00 p.m. (PDT) at the offices of
      Jump Communications, Inc., 10390 Wilshire Boulevard, Penthouse 20, Los Angeles,
      California 90024, on or before August 23, 2007, unless another date or place
      is
      agreed to in writing by the parties hereto.  The date on which the
      Closing actually occurs is hereinafter referred to as the “Closing Date.” At the
      Closing, concurrently with the execution and delivery of this Agreement, and
      as
      a condition and inducement to and for the Companies to enter into this
      Agreement, NuTech and Jump will enter into the following agreements (among
      others):

    
      	
               

            	
              A.
                Asset Purchase Agreement, substantially in the form attached hereto
                as
                Exhibit A (the Asset Purchase Agreement),
                and

            

    

    
      	
               

            	
              B.
                License Agreement, substantially in the form attached hereto as Exhibit
                B
                (the License Agreement).

            

    

    

    2. 
      Formation of NAC.  Jump and NuTech agree to the
      formation of a corporation to be named “NuTech Acquisition Corp.” (or such other
      name as may be available) (hereinafter “NAC”) as soon as practicable after
      execution of this Agreement as follows:

    A.
      NAC
      will be formed pursuant to the laws of the State of Nevada. There will be one
      class of common shares. The Board of Directors will be composed of three
      Directors. Upon the formation of NAC, an organizational meeting will be held
      and
      the following actions, among others necessary or customary, will take
      place:

    i.
      Eighty-five percent of the issued and outstanding shares will be issued to
      Jump,
      and fifteen percent of the issued and outstanding shares shall be issued to
      Lee
      Kasper (Kasper), the President of NuTech, on condition that Kasper enters into
      the employment agreement substantially in the form attached hereto as Exhibit
      C
      (the Kasper Employment Agreement). NAC will reserve an additional five (5)
      percent of its shares for additional executive compensation.

    

     

    
      
        
          
          

        

        
          1

          
            

          

        

        
          
          

        

      

     

    ii.
      Jump
      shall designate two (2) Directors, of which one shall be the Chairman of the
      Board. The third director will be Kasper unless he rejects such designation,
      in
      which case the Board of Directors will be composed of the two Directors
      designated by Jump.

    B.   As
      soon as practicable after the formation of NAC, NuTech agrees to transfer the
      assets and liabilities of NuTech to NAC as follows:

    i.
      The
      assets and liabilities to be transferred from NuTech to NAC shall not include
      any of the assets and liabilities sold or granted to NuTech pursuant to the
      Asset Purchase Agreement and/or the License Agreement.

    ii.
      All
      other assets and liabilities of NuTech as of the date of transfer shall be
      transferred to NAC including without limitation, the following:

    a.
      All trade debts, unpaid loans
      whether owing to third parties or management of NuTech, whether or not
      collateralized or secured, and any and all other obligations of NuTech for
      payment of money or services, whether or not matured or arising in the future,
      all as set forth on the most recent audited financial statements of NuTech,
      as
      included in the current filings with the Securities and Exchange Commission
      (SEC), a copy of which is attached hereto as Exhibit D (the Audited
      Financials).

    b.
      All
      assets of NuTech including good will, physical assets, contract rights,
      copyrights, patents, accounts receivable and all other assets including those
      set forth in the Audited Financials.

    iii.
      In order to facilitate the transfer
      of the assets and liabilities, NuTech shall execute a Bill of Sale substantially
      in the form of Exhibit D, attached hereto (the “Bill of Sale”), and NuTech and
      NAC shall enter into an Assignment and Assumption Agreement, substantially
      in
      the form of

    Exhibit
      E, attached hereto (the “Assignment and Assumption Agreement”). NuTech will be
      solely responsible for the cost and expense of obtaining any and all third
      party
      consents to the transfer of the assets and liabilities, including any loans
      outstanding between Kasper and NuTech.

    

    C.
      NAC
      and NuTech shall enter into a General Release, substantially in the form
      attached hereto as Exhibit F (the “General Release”).

    

    3.
      Execution of Jump Transaction Documents. Concurrently with the
      transfer of assets and liabilities to NAC and the execution and delivery of
      the
      General Release, NAC and Jump will enter into the following
      agreements:

    i.
      Asset
      Purchase Agreement, substantially in the form attached hereto as Exhibit G
      (the
      NAC Purchase Agreement); and

    ii.
      License Agreement, substantially in the form attached hereto as Exhibit
      H
      (the NAC License Agreement).

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

    

    4.
      Formation of Jump Operating Company. The Parties
      hereto agree to the formation of a corporation to be named
“Jump Operating Company” (or such other name as may be available) (hereinafter
“JOC”) as soon as practicable after execution of this Agreement
      as
      follows:

    

    A.
      JOC
      will be formed pursuant to the laws of the State of Nevada. There will be one
      class of common shares. The Board of Directors will be composed of three
      Directors. JOC will be one hundred percent owned by NuTech.

    

    B.   As
      soon as practicable after the formation of JOC, NuTech agrees to transfer to
      JOC
      all the assets, hardware and licenses sold and/or licensed and/or granted to
      NuTech pursuant to the Asset Purchase Agreement, Exhibit A, and the License
      Agreement, Exhibit B.

    

    5.
      Formation of NAC Operating Company. The Parties
      hereto agree to the formation of a corporation to be named
“NAC Operating Company” (or such other name as may be available) (hereinafter
“NAC OC”) as soon as practicable after execution of this Agreement
      as
      follows:

    

    A.
      NAC OC
      will be formed pursuant to the laws of the State of Nevada. There will be one
      class of common shares. The Board of Directors will be composed of three
      Directors. One of the three will be Kasper unless he rejects such designation,
      in which case the Board of Directors will be composed of the two directors
      to be
      elected by the shareholders of NAC.  NAC OC will be one hundred
      percent owned by NAC.

    

    B.   As
      soon as practicable after the formation of NAC OC, NAC agrees to transfer to
      NAC
      OC all the assets, hardware and licenses sold and/or licensed and/or granted
      to
      NAC pursuant to the Asset Purchase Agreement, attached hereto as Exhibit G
      (the
      NAC Purchase Agreement); and the License Agreement, attached hereto as Exhibit
      H
      (the NAC License Agreement).

    

    

    6.
      Actions and Omissions. To effectuate the transactions
      contemplated by each and every of the foregoing Agreements and the provisions
      hereof, it is agreed that no Company, shareholder, officer, director, or
      individual that is a party to this transaction or any Agreement constituting
      part of this transaction shall take any action that would, or fail to take
      any
      action the omission of which would, be reasonably likely to prevent or impede
      the change of ownership of NuTech, the formation of NAC, or the implementation
      and effectuation of the transactions contemplated by this Agreement and any
      Agreement that is part hereof.

     

    
 

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

    7.
      Additional Agreements. If, at any time before or after the
      Effective Time, Jump or NuTech believes or is advised that any further
      instruments, deeds, assignments or assurances are reasonably necessary or
      desirable to consummate the actions contemplated by this Agreement or any
      Agreement forming part thereof, or to carry out the purposes and intent of
      this
      Agreement at or after the Effective Time, then NuTech, NAC, and their respective
      officers and directors shall execute and deliver all such proper deeds,
      assignments, instruments and assurances and do all other things necessary or
      desirable to consummate and to carry out the purposes and intent of this
      Agreement.

    

    8.
      Representations and Warranties of Jump. Jump represents and
      warrants as follows:

    

    A.
      Organization and Standing. Jump is a corporation duly organized, validly
      existing and in good standing under the laws of the State of Nevada and has
      the
      corporate power and authority to carry on its business as it is now being
      conducted.

    

    B.
      Authority Relative to this Agreement. No further corporate or other action
      is necessary on its part to make this Agreement valid and binding upon it and
      enforceable against it in accordance with its terms or to carry out the
      transactions contemplated hereby other than the authorization of its Board
      of
      Directors, which authorization will be obtained as soon as
      possible.

    

    C.
      No
      Violations. The execution, delivery and performance of this Agreement by the
      Jump do not and will not (i) constitute a breach or a violation of any law,
      rule
      or regulation, agreement, indenture, deed of trust, mortgage, loan agreement
      or
      other instrument to which Jump is a party or by which it is bound; (ii)
      constitute a violation of any order, judgment or decree to which Jump is a
      party
      or by which it is bound.

    

    D.
      Compliance With Applicable Laws. To Jump’s knowledge, the conduct of the
      business of Jump does not violate or infringe any federal, state, local or
      foreign law, statute, ordinance, license or regulation that is presently in
      effect.  To Jump’s knowledge, such conduct does not violate or
      infringe any right or concession, copyright, trademark, trade name, patent,
      know-how or other proprietary right of others, the enforcement of which would
      materially adversely affect the transactions contemplated
      hereunder.  Jump has maintained and continues to maintain all licenses
      and permits required by all local, state and federal authorities and regulating
      bodies.

    

    E.
      Approvals and Consents. Other than the approval of the Board of Directors as
      set forth in 8B above, no consent, approval or authorization is required in
      connection with the execution or delivery of this Agreement by Jump or the
      consummation by it of the transactions contemplated hereby.

     

    
 

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

    9.
      Representations and Warranties of NuTech. NuTech represents and
      warrants as follows:

    

    A.
      Organization and Standing. NuTech is a corporation duly organized, validly
      existing and in good standing under the laws of the State of California and
      has
      the corporate power and authority to carry on its business as it is now being
      conducted.

    

    B.
      Authority Relative to this Agreement. No further corporate or other action
      is necessary on its part to make this Agreement valid and binding upon it and
      enforceable against it in accordance with its terms or to carry out the
      transactions contemplated hereby other than the authorization of its Board
      of
      Directors, which authorization will be obtained as soon as
      possible.

    

    C.
      Compliance With Applicable Laws. To NuTech’s knowledge, the conduct of the
      business by NuTech does not violate or infringe any federal, state, local or
      foreign law, statute, ordinance, license or regulation that is presently in
      effect.  To NuTech’s knowledge, such conduct does not violate or
      infringe any right or concession, copyright, trademark, trade name, patent,
      know-how or other proprietary right of others, the enforcement of which would
      materially adversely affect the transactions contemplated
      hereunder.  NuTech has maintained and continues to maintain all
      licenses and permits required by all local, state and federal authorities and
      regulating bodies.

    

    D.
      No
      Violations. The execution, delivery and performance of this Agreement by
      NuTech do not and will not (1) constitute a breach or a violation of any law,
      rule or regulation, agreement, indenture, deed of trust, mortgage, loan
      agreement or other instrument to which NuTech is a party or by which it is
      bound; or (2) constitute a violation of any order, judgment or decree to which
      NuTech is a party.

    

    E.
      Approvals and Consents. Other than the approval of the Board of Directors as
      set forth in 9B above, no consent, approval or authorization is required in
      connection with the execution or delivery of this Agreement by NuTech or the
      consummation by it of the transactions contemplated hereby.

    

    10.
      Further Assurances. The parties hereto agree to use all
      reasonable good faith efforts to take all actions and to do all things
      necessary, proper or advisable to fulfill the terms and conditions set forth
      in
      this Agreement and to consummate the transactions contemplated
      hereby.  In addition, each party hereto agrees to execute reasonable
      supplemental or additional documents, to execute reasonable amendments to
      documents delivered at Closing, to re-execute documents delivered at Closing
      and
      to take any other reasonable actions as are necessary or reasonably appropriate
      to fully carry out and consummate the transactions contemplated herein or to
      correct errors or omissions, if any, in any document delivered at
      Closing.

     

    
 

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

    11.
      Conditions Precedent to Obligations of NuTech. The obligation
      of NuTech to consummate the transactions contemplated by this Agreement shall
      be
      subject to the satisfaction of the following conditions, unless waived in
      writing prior to the Closing by NuTech:

    A.
      Jump
      shall have performed, in all material respects, all obligations and complied
      with all covenants required by this Agreement to be performed or complied with,
      in all material respects, by it prior to the Closing.

    B.
      Each
      of the documents or other items to be delivered by Jump at the Closing shall
      have been delivered.

    

    12.
      Conditions Precedent to Obligations of
      Jump. The obligation of Jump to consummate the
      transactions contemplated by this Agreement shall be subject to the satisfaction
      of the following conditions, unless waived in writing prior to the Closing
      by
      Jump:

    A.
      NuTech
      shall have performed, in all material respects, all obligations and complied
      with all covenants required by this Agreement to be performed or complied with,
      in all material respects, by it prior to the Closing.

    

    B.
      Each
      of the documents and other items to be delivered by NuTech at the Closing shall
      have been delivered.

    

    C.
      Nothing having a Material Adverse Effect (as defined below) shall have occurred
      between the date hereof and the Closing in the business, operations, financial
      or other condition of the NuTech.  For purposes of this Agreement, the
      term “Material Adverse Effect” means an effect or condition that individually or
      when taken together with all other effects or conditions of like nature would
      be
      reasonably expected to have a material adverse effect on (i) the business,
      operations financial or other condition of the NuTech; or (ii) NuTech’s ability
      to consummate the transactions required by this Agreement.

    

    13.
      Termination. This Agreement may be terminated without further
      liability of any party at any time prior to the Closing:

    A.
      by
      mutual written agreement of NuTech and Jump;

     

    B.
      by
      either party if there has been a material breach by the other party of its
      respective representations, warranties and covenants; or

    

                   
      C. by either party if there has occurred an event constituting a Material
      Adverse Effect.

     

    D.
      If at
      any time, before or after Closing, NAC and or NuTech seeks protection under
      the
      Bankruptcy or insolvency laws of any State or the U. S. Federal Government,
      or
      otherwise seeks to terminate or wind up its business pursuant to any statute,
      or
      ceases to exploit, for any reason, the rights and licenses granted hereunder
      or
      pursuant to the NAC License Agreement, then and in such event, the Licenses
      shall be deemed terminated,
      without further action by any Party, and all rights and licenses shall revert
      to
      Jump Communications, Inc. or its successor in interest.

     

    
 

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

    

    14.
      Miscellaneous.

    

    A.
      Rules of Construction. All Exhibits attached hereto shall be deemed
      incorporated herein as if set forth in full herein and, unless otherwise defined
      therein, all terms used in any Exhibit or Schedule shall have the meaning
      ascribed to such term in this Agreement.  The words “include,”
“includes” and “including” shall be deemed to be followed by the phrase “without
      limitation.”  The words “hereof,” “herein” and “hereunder” and words
      of similar import when used in this Agreement shall refer to this Agreement
      as a
      whole and not to any particular provision of this Agreement.  Unless
      otherwise expressly provided herein, any agreement, plan, instrument or statute
      defined or referred to herein or in any agreement or instrument that is referred
      to herein means such agreement, plan, instrument or statute as from time to
      time
      amended, modified or supplemented, including (in the case of agreements or
      instruments) by waiver or consent and (in the case of statutes) by succession
      of
      comparable successor statutes and references to all attachments thereto and
      instruments incorporated therein.  

    

    B.
      Disclosures and Announcements. Both the timing and the content of
      all disclosure to third parties and public announcements concerning the
      transactions provided for in this Agreement by any Party hereto shall be subject
      to the approval of the other in all essential respects, except that no approvals
      shall be required as to any statements and other information which NuTech may
      submit to the Securities and Exchange Commission (“SEC”) or that NuTech may be
      required to make pursuant to any rule or regulation of the SEC or otherwise
      required by law.

    

    C.
      Assignment; Parties in Interest. Except as expressly provided herein, the
      rights and obligations of a party hereunder may not be assigned, transferred
      or
      encumbered without the prior written consent of the other parties. This
      Agreement shall be binding upon, inure to the benefit of, and be enforceable
      by
      the respective successors and permitted assigns of the parties
      hereto.  Nothing contained herein shall be deemed to confer upon any
      other person any right or remedy under or by reason of this
      Agreement.

    

    D.
Law
      Governing Agreement. This Agreement shall be construed and interpreted
      according to the internal laws of the State of Nevada, without regard to
      principles of conflict of laws.  The parties hereby stipulate that any
      action or other legal proceeding arising under or in connection with this
      Agreement may be commenced and prosecuted in its entirety in the federal or
      state courts located in the Southern District of the State of
      California.  Each party hereby submits to the personal jurisdiction
      thereof, and the parties agree not to raise the objection that such courts
      are
      not a convenient forum.  Process and pleadings mailed to a party at
      the address provided in the Notice section
      herein shall be deemed properly served and accepted for all
      purposes.  The parties hereto waive the right to trial by jury in any
      proceeding hereunder.

     

    
 

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

    

    E.
      Amendment and Modification. The parties may amend, modify and supplement
      this Agreement in such manner as may be agreed upon by them in
      writing.

    

    F.
      Notices. All notices, requests, demands and other communications
      hereunder shall be given in writing and shall be:  (i) personally
      delivered; (ii) sent by telecopier, facsimile transmission or other electronic
      means of transmitting written documents; or (iii) sent to the parties at their
      respective addresses indicated herein by registered or certified U.S. mail,
      return receipt requested and postage prepaid, or by private overnight mail
      courier service.  The respective addresses to be used for all such
      notices, demands or requests are as follows:

    

    NuTech
      Digital, Inc.

    3841
      Hayvenhurst Drive,

    Encino,
      CA 91436

    Attention:
      Lee H. Kasper

    

    or
      to
      such other person or address as NuTech shall furnish to Jump in
      writing.

    

    Jump
      Communications

    10390
      Wilshire Boulevard

    Penthouse
      20

    Los
      Angeles, California 90024

    Attention:
      A. Fred Greenberg

    Facsimile:
      (310) 777-0015

    

    With
      a
      required copy to:

    

    Fredric
      H. Aaron, Attorney at Law, PC

    14
      Vanderventer Avenue, Suite 212

    Port
      Washington, NY 11050

    Attention:
      Fredric H. Aaron, Esq.

    Facsimile:
      (516) 802-3807

    

    or
      to
      such other person or address as Jump shall furnish to NuTech in
      writing.

    

    If
      personally delivered, such communication shall be deemed delivered upon actual
      receipt; if electronically transmitted pursuant to this paragraph, such
      communication shall be deemed delivered the next business day after transmission
      (and sender shall bear the burden of proof of delivery); if sent by overnight
      courier pursuant to this paragraph, such communication shall be deemed delivered
      upon receipt; and if sent by U.S. mail pursuant to this paragraph,
      such communication shall be deemed delivered as of the date of delivery
      indicated on the receipt issued by the relevant postal service, or, if the
      addressee fails or refuses to accept delivery, as of the date of such failure
      or
      refusal.  Any party to this Agreement may change its address for the
      purposes of this Agreement by giving notice thereof in accordance with this
      Section.

     

    
 

    
      
        
        

      

      
        8

        
          

        

      

      
        
        

      

    

    

    G.
      Expenses. Regardless of whether or not the transactions
      contemplated hereby are consummated, each of the parties hereto shall bear
      their
      own respective expenses and the expenses of its counsel and other agents in
      connection with the transactions contemplated hereby.

    

    H.
      Entire Agreement; Enforceability. This Agreement, including all
      the Exhibits and Schedules, ancillary agreements and any other instruments
      to be
      executed and delivered by the parties hereto (the “Transaction
      Documents”):  (i) constitutes the entire agreement among the parties
      with respect to the transactions contemplated herein and supersedes all prior
      agreements and understandings, both written and oral, among the parties, with
      respect to the subject matter hereof and thereof, and (ii) shall be binding
      upon, and is solely for the benefit of, each party hereto and nothing in this
      Agreement is intended to confer upon any third party any rights or remedy of
      any
      nature whatsoever hereunder or by reason of this Agreement or any of the
      Transaction Documents.

    

    I.
      Severability. Any term or provision of this Agreement which is invalid,
      illegal or unenforceable in any jurisdiction shall, as to that jurisdiction,
      be
      ineffective to the extent of such invalidity, illegality or unenforceability
      without rendering invalid, illegal or unenforceable the remaining terms and
      provisions of this Agreement or affecting the validity or enforceability of
      any
      of the terms or provisions of this Agreement in any other
      jurisdiction.  If any provision of this Agreement is so broad as to be
      unenforceable, the provision shall be interpreted to be only so broad as is
      enforceable.

    

    J.
      Counterparts. This Agreement may be executed in one or more counterparts,
      each of which shall be deemed an original, but all of which together shall
      constitute one and the same instrument.  This Agreement shall become
      effective when one or more counterparts have been signed by each of the parties
      and delivered (by facsimile or otherwise) to the other parties, it being
      understood that all parties need not sign the same counterpart.  Any
      counterpart or other signature delivered by facsimile shall be deemed for all
      purposes as constituting good and valid execution and delivery of this Agreement
      by a party.

    

    K.
      Headings. The headings contained in this Agreement are for reference
      purposes only and shall not affect in any way the meaning or interpretation
      of
      this Agreement.  Section, subsection, preamble, recital and party
      references are to this Agreement unless otherwise stated.  No party or
      its counsel shall be deemed the
      drafter of this Agreement for purposes of construing its provisions, and all
      language in all parts of this Agreement shall be construed in accordance with
      its fair meaning, and not strictly for or against any party.  The
      parties waive any rule of law or judicial precedent that provides that
      contractual ambiguities are to be construed against the party who shall have
      drafted the contractual provision in question.

     

     

    [Signature
      Page Follows]

    
 

    
 

    
      
        
        

      

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

    

    

    Jump
      Communications Corp.

    By:  /S/
      A. Frederick
      Greenberg                                           

    

    

    A.
      Frederick Greenberg, President and CEO

    

            /S/
      A. Frederick Greenberg

    

    A.
      Frederick Greenberg, as shareholder

    

    NuTech
      Digital, Inc.

    By:
      /S/Lee H. Kasper

    

    

    

    Lee
      H.
      Kasper, President and CEO

    

           /S/ Lee
      H. Kasper

    

    Lee
      H.
      Kasper, as shareholder

    

    

    
      
        
          
          

        

        
          10

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