Document:

Exhibit 10.3 - Amendment to Limited Liability Operating Agreement

Exhibit 10.3

	
STATE OF NORTH CAROLINA
	
:
	
LIAISON DESIGN GROUP LLC

	 	 	 	 	 	 	
FIRST AMENDMENT TO LIMITED LIABILITY

	
WAKE COUNTY 
	 	 	
:
	
COMPANY OPERATING AGREEMENT

THIS FIRST AMENDMENT TO LIMITED LIABILITY COMPANY OPERATING AGREEMENT (the "Amendment") made effective as of the 10th day of March, 2003, by and among the undersigned members (the "Members") of LIAISON DESIGN GROUP LLC, a North Carolina limited liability company (the "Company");

W I T N E S S E T H:

WHEREAS, the Company was formed pursuant to an Operating Agreement dated May 11, 2000 (the "Agreement"); and

WHEREAS, SAMBRICK COMMUNICATIONS, INC. ("SC") is selling a thirty percent (30%) membership interest in the Company to Member Sandra M. Conklin ("Conklin") and Conklin is selling a thirty percent (30%) membership interest in the Company to Seamus Deurr, a citizen and resident of North Carolina, all as provided in that certain Letter Agreement dated February 19, 2003 which is attached hereto as Exhibit A (the "Letter Agreement"), and the Members now desire to amend the Agreement to accept Seamus Deurr as a new Member in the Company and to adjust the Percentage Interests of the Members in the profits and losses of the Company prospectively as a result of the foregoing sales.

NOW, THEREFORE, in consideration of the premises, the covenants and agreements contained herein, and other good and valuable consideration, the parties hereto agree as follows:

1.The Agreement is hereby amended in every respect to reflect the foregoing sales of the membership interests in the Company, and the corresponding transfer of capital and profits interests to Conklin and Deurr as a new Member of the Company as set forth in the Letter Agreement. The Letter Agreement attached at Exhibit A is hereby incorporated by reference as if fully set forth herein, and its terms and provisions shall be deemed to amend the Agreement as effectually as the provisions included in the body of this Amendment, and shall govern the operation of the Company as to the matters reflected in the Letter Agreement.

2. Paragraph 3(a) of the Agreement is hereby amended and restated as follows:

"Sambrick Communications, Inc. ("Sambrick") has made an initial capital contribution to the Company valued at $24,000.00, and Sandra Moring shall not be required to make any initial capital contribution to the Company."

3.  As of the date of this Amendment, the capital accounts of the Members are hereby restated to reflect an agreed upon valuation of the Company of $84,000.00 (including the foregoing initial investment by SC), as evidenced by the purchase prices for the above referenced sales as sct forth in the Letter Agreement, as follows:

 

 

	 	
Member 

	 	
Capital Accounts

	 	
Sambrick Communications, Inc. 
	 	
$42,000.00

	 	
Sandra M. Conklin
	 	 	 	
$24,000.00

	 	
Seamus Deurr
	 	 	 	 	
$18,000.00

4. Paragraph4(a) of the Agreementis hereby amended to change the Percentage Interests effective as of the date hereof as follows:

	 	
Member

	 	
Percentage Interests

	 	
Sambrick Communications, Inc. 
	 	
30%

	 	
Sandra M. Conklin
	 	
40%

	 	
Seamus Deurr
	 	
50%

5. Paragraph 8(a) is amended to indicate that as of the date hereof, the Managers of the Company will be Frank J. Sambrick, Sandra M. Conklin, and Seamus Deurr. Seamus Deurr will serve as the "Managing Manager" and have responsibility and authority for the execution of the day to-day business management of the Company, subject to a vote of the Managers to approve those matters deemed necessary for approval by the Managers. Conklin shall sever as the President and Duerr as Vice President of the Company, and shall have such power and authority as would be applicable for such offices in a North Carolina corporation under general principles of North Carolina corporate law.

6. No dissolution (which leads to a termination) of the Company shall occur by reason of the amendments effected in this Amendment, and the Company shall continue its business uninterrupted.  Except to the extent amended herein, all terms and provisions of the Agreement shall continue in full force and effect.

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

	 	 	 	 	 	 	 	
THE COMPANY:

	 
	 	 	 	 	 	 	 	
LIAISON DESIGN GROUP LLC

	 
	 	 	 	 	 	 	 	
BY: 
	
/s/ Sandra Conklin

	 	 	 	 	 	 	 	 	
SANDRA M. CONKLIN, Manager

	 
	 	 	 	 	 	 	 	
CONTINUING MEMBERS:

	 
	 	 	 	 	 	 	 	 	
/s/ Seamus Duerr

	 	 	 	 	 	 	 	 	
SEAMUS DUERR

	 
	 	 	 	 	 	 	 	 	
/s/ Sandra M. Conklin

	 	 	 	 	 	 	 	 	
SANDRA M. CONKLIN

	 
	 	 	 	 	 	 	 	
SAMBRICK COMMUNICATIONS, INC.

	 
	 	 	 	 	 	 	 	
BY:
	
/s/ Frank J. Sambrick

	 	 	 	 	 	 	 	 	
FRANK J. SAMBRICK, President

 

 

 

 

 - 2 -Exhibit 10.4 - Amendment to Partnership Agreement

Exhibit 10.4

Amendment to Partnership Agreement 

Between Sambrick Communications and 

Liaison Design Group, LLC

February 19, 2003

Payment of Money Owed Liaison Design Group by Sambrick Communications
 

	
A.
	
Beginning January 2003, Sambrick Communications agrees pay invoices owed to Liaison Design Group within 14 days of receipt of payment from SC's client. This will improve LDG's cash flow.

	 
	
B. 
	
LDG agrees to continue applying rent payments of $570.00 per month to the remaining balance (after implementation of agreement to change partnership percentages shown in paragraph C below) owed to LDG by SC. This will reduce SC's debt while aiding LDG's cash flow.

	 
	
C. 
	
The following is a breakdown of the issues discussed and agreed upon by both parties. Previously, SC owned 60% of Liaison Design Group (LDG) and Sandra Conklin owned 40%. When LDG began operation, SC's capital account totaled $24K and Sandra Conklin's capital account totaled $0.

	 
	 	
For the years 2000/2001, losses reducing the capitol account of SC were $30K. Losses reducing the capital account of Sandra Conklin were $20K.

	 
	 	
The changes to the partnership are as follows:

	 
	 	
1.
	
Set value of LDG at $60K.

	 
	 	
2.
	
Therefore, based on set value, reset capital accounts to: SC - $45.6K (this total includes the $24K initial capital investment) and Sandra Conklin $14.4K.

	 
	 	
3.
	
SC will sell 30% of its LDG shares to Sandra Conklin for $18K. Sandra Conklin will reduce SC's receivables to LDG by $18K. Sandra Conklin will then reduce the unpaid salary owed to her from LDG by $18K.

	 
	 	
4.
	
Result: SC owns 30% of LDG and Sandra Conklin owns 70% of LDG. Capital account balances change to SC - $34K; Sandra Conklin - $25.2K. 

	 
	 	
5.
	
Sandra Conklin will sell 30% of LDG to Seamus Duerr for $18K, with the agreement that he would have first right of refusal on purchasing additional shares sometime in the future.

	 
	 	
6.
	
Result: SC owns 30%, Seamus Duerr owns 30%, and Sandra Conklin owns 40%. Capital accounts become: SC - $34.8K, Duerr - $10.8K, Conklin $14.4K.

 

 

	 	
7. 
	
Seamus Duerr would become managing partner, with the same responsibilities and benefits designated for Sandra Conklin as managing/operating partner. In doing this, Sandra Conklin will not draw a salary as managing partner, but will assist Duerr as needed, on an hourly basis.

	 
	 	
This will significantly enhance the probability that LDG will show a profit.

	 
	
Repayment of Sambrick Communications Capital Account

	 
	 	
A. 
	
To assure prompt repayment of SC' s Capital Account, beginning one year from the date of this agreement, SC will receive $1.00 credit toward its past due balance for every $3.00 paid to LDG. This 3-1 ratio will reduce the past due amount owed to LDG while reducing SC's Capital Account.

These amendments have been agreed upon by:

	 	
/s/ Frank Sambrick
	 	
2/21/2003

	 	
Frank Sambrick of Sambrick Communications 
	
Date

	 
	 	
/s/ Sandra Moring Conklin
	 	
2/21/2003

	 	
Sandra Moring Conklin
	 	 	 	
Date

 

 

 

 

 

 

 

 

 - 2 -EXHIBIT 10.17
                                Form of Agreement

                               Stanley Wunderlich

October 15, 2005

Norbert Sporns
CEO
HQ Sustainable Maritime Industries, Inc.
7305 Marie-Victorin
Suite 100
Brossard Quebec,
Canada
J4W 1A6

Dear Mr. Sporns,

This  Agreement,  dated as of October 15, 2005 is entered into by and between HQ
Sustainable  Maritime  Industries,  Inc. ("The Company") with offices located at
7305  Marie-Victorin  Suite 100  Brossard,  Quebec  Canada  J4W 1A6 and  Stanley
Wunderlich . (the "Consultant").

                                    RECITALS

Whereas,  the Consultant has experience in the investment  banking and financial
services   business,   investor   relations,   public  relations  and  corporate
development activities,

Whereas,  the Consultant desires to provide the financial advisory services (the
"Services") set forth in Section 3 hereof to the Company and the Company desires
to retain the consultant to provide the Services to the Company.

NOW THEREFORE,  in consideration  of the premises and the mutual  convenants and
agreement  hereinafter  set forth,  the  parties  hereto  covenant  and agree as
follows:

1.  Retention.  The Company  hereby retains the  Consultant,  and the Consultant
agrees to be retained by the Company, to perform the Services as a Consultant to
the Company on the terms and conditions set forth herein. The parties agree that
the Consultant shall be retained by the Company as an independent  contractor on
a consulting basis and not as an employee of the Company.

2. Term. The term of this Agreement  shall commence on the date hereof and shall
end on  December  31,  2006,  unless  terminated  earlier  pursuant to Section 6
hereof.

3. Duties of  Consultant.  During the term of this  Agreement  Consultant  shall
provide the Company  with such  regular and  customary  consulting  advice as is
reasonably requested by the Company, within the scope of the services enumerated
below.  It is  understood  and  acknowledged  by the  parties  that the value of
Consultant's  advice is not readily  quantifiable,  and that Consultant shall be
obligated to render advice upon the request of the Company,  in good faith,  but
not be obligated to spend any specific  amount of time in so doing.  In addition
the annexed document  describing the "China Program" will be considered the core
essential services to be provided.

4. Compensation. In consideration for the services rendered by Consultant to the
Company  pursuant to this  Agreement,  the Company  shall pay to the  Consultant
$3,000.00 upon the signing of this agreement  (October 15th thru November 30th),
and $2,000.00 by the tenth of December and for each successive  month during the
term of this Agreement.  This fee will include all regular,  ongoing routine out
of pocket expenses,  including  communications,(except press releases) mailings,
fax broadcasts, etc. Unusual special requests would be, approved in advance, and
paid for by the company i.e. trip to China.  The company  agrees to issue freely
tradable shares in accordance with attached annexed schedule.

5.  Confidentiality.  Consultant  acknowledges  that  as a  consequence  of  its
relationship with the Company,  it has been and will continue to be given access
to ideas, trade secrets, methods, customer information, business plans and other
confidential   and  proprietary   information  of  the  Company   (collectively,
"Confidential  Information").  Consultant  agrees  that  it  shall  maintain  in
confidence,  and shall not disclose directly or indirectly, to any third parties
or use for any purposes (other than the performance  hereof),  any  Confidential
Information  for  the  term  of this  Agreement  and a  period  of  seven  years
thereafter,  unless previously  approved by the Company in writing.  The parties
hereto  agree that  irreparable  damage would occur in the event that any of the
provisions of this Section 5 are not  performed by the  Consultant in accordance
with their specific  terms or are otherwise  breached by the  Consultant.  It is
accordingly  agreed that the  Company  shall be  entitled  to an  injunction  or
injunctions  to prevent  breaches of this section 5 and to enforce  specifically
the terms and  provisions  hereof in any court of the United States or any State
having  jurisdiction  in addition to any other remedy to which they are entitled
at law or in equity.

<PAGE>

6. Termination: This agreement shall terminate upon the earlier of:
         i)       Expiration of the term of the agreement; or
         ii)      Thirty (30) days written notice by either party

7. Compliance with Law. The Consultant  agrees that in performing this Agreement
that  the  Consultant  shall  comply  with  the  applicable  provisions  of  the
Securities Act of 1933, as amended.  The applicable rules and regulations of the
National  Association  of  Securities  Dealers,  Inc.  and any other  applicable
federal, state or foreign laws, rules and regulations.

8.  Indemnity.  The  Consultant  shall  indemnify  the Company,  its  directors,
officers,  stockholders,  representatives,  agents and affiliates (collectively,
the "Affiliated Parties") from and against any and all losses,  damages,  fines,
fees, penalties,  deficiencies,  expenses,  including expenses of investigation,
court  costs  and fees and  expenses  of  attorneys,  which the  Company  of its
Affiliated  Parties may sustain at any time  resulting  from,  arising out of or
relating  to the  breach or  failure  to  comply  with any of the  covenants  or
agreements  of the  Consultant  or its  Affiliated  Parties  contained  in  this
Agreement.

9. Notices.  Notices,  other  communications or deliveries required or permitted
under this  Agreement  shall be in writing  delivered by hand  against  receipt,
certified mail return receipt,  or reputable  overnight courier to the addresses
set forth below or to such address as a party may designate in  accordance  with
this paragraph and shall be effective upon the earlier of:

I) actual receipt
ii)three (3) calendar days if sent by certified  mail; or one (1) day if sent by
overnight courier.

A.   To the Company at: 7305 Marie-Victorin
     Suite 100
     Brossard, Quebec
     Canada  J4W 1A6

Att: Norbert Sporns
     CEO/President

B.   To the Consultant at:
     800 Second Avenue, 5th floor
     New York, NY 10017

10. Applicable Law. This agreement shall be governed by the internal laws of the
State of New York without regard to its conflict of law provisions.

If  the  foregoing  sets  forth  your  understanding  of our  agreement,  kindly
indicated your agreement by signing on the space provided below.

                                                     Very truly yours

                                                     By:________________________
                                                        Stanley Wunderlich

Agreed and Accepted by:

By: _____________________
Name: Norbert Sporns, CEO

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