Document:

exhibit10_1.htm

    

    SHARE
PURCHASE AGREEMENT

     

    
       

      THIS
SHARE PURCHASE AGREEMENT dated as of _________ the day
of____________________________, 2008,

       

      BETWEEN:

       

      

                  ____________________________________________________________________________________

      (the “Purchaser”)

      AND:

       

      LARRY
OLSON, of
#417 – 1121 6th Ave SW,
Calgary, Alberta, Canada T2P
5J4

       

      (“Olson”)

       

      WHEREAS:

       

      
        	
                A.  

              	
                Olson
      is the registered and beneficial owner of _______________________________restricted
      common shares in the capital of Mine Clearing Corp. (the “Shares”);

              

      

       

      
        	
                B.  

              	
                Olson
      wishes to sell and the Purchaser wishes to purchase the Shares pursuant to
      the terms and conditions of this
agreement;

              

      

       

      NOW
THEREFORE THIS AGREEMENT WITNESSES that for and in consideration of
US$1.00 and other good and valuable consideration paid by each party to the
other, the receipt and sufficiency of which are acknowledged, the parties
covenant and agree as follows:

       

      
        	
                1.  

              	
                Olson
      agrees to sell and the Purchaser agrees to purchase the Shares for and at
      a price of US$__________________ (the
      “Purchase
      Price”) at the date of this
agreement.

              

      

       

      
        	
                2.  

              	
                The
      Purchaser will deliver to Olson US$___________________
       (the
      “Purchase
      Price”) as consideration for the transfer of the Shares to the
      Purchaser from Olson.

              

      

       

      
        	
                3.  

              	
                Olson
      represents and warrants to the Purchaser
that:

              

      

       

      
        	
                a.  

              	
                Olson
      owns the Shares as the legal and beneficial owner thereof, free of all
      liens, claims, charges and encumbrances of every nature and kind
      whatsoever. The Shares are fully paid and non-assessable and Olson has due
      and sufficient right and authority to enter into this agreement and to
      transfer the legal and beneficial title and ownership of the Shares to the
      Purchaser.

              

      

       

      
        	
                b.  

              	
                No
      person, firm or corporation has any agreement or option or a right capable
      of becoming an agreement for the purchase of the Shares, with the
      exception of this agreement.

              

      

       

      
        	
                c.  

              	
                Olson
      is an affiliate of Mine Clearing
Corp.

              

      

       

      
        	
                4.  

              	
                The
      effective date of sale and purchase of the Shares will
      be__________________, 2008 (the “Closing
      Date”).

              

      

       

      
        	
                5.  

              	
                On
      the Closing Date,

              

      

       

      
        	
                a.  

              	
                Olson
      will deliver to the Purchaser the share certificates, duly endorsed for
      transfer, representing the Shares,
and

              

      

       

      
        	
                b.  

              	
                the
      Purchaser will deliver a certified cheque or solicitor’s trust cheque
      payable to “Larry Olson” or a bank draft in the amount of US$____________________
      as full payment of the Purchase
Price.

              

      

       

      
        	
                6.  

              	
                This
      agreement will enure to the benefit of and will be binding upon the
      parties and their respective successors and
  assigns.

              

      

       

      
        	
                7.  

              	
                Time
      will be of the essence of this
agreement.

              

      

    

     

    
      	
              8.  

            	
              The
      parties will sign such further assurances and other documents and
      instruments and do such further and other things as may be necessary to
      implement and carry out the intent of the
  agreement.

            

    

     

    IN
WITNESS WHEREOF the parties have signed this Share Purchase Agreement as
of the day and year first above written.

     

     

    
_________________________                                                          _________________________

     
u
(purchaser)                                                                                       Larry
OlsonAMENDMENT
      NO. 2 TO SECURITIES PURCHASE AGREEMENT, SENIOR 

    SECURED
      CONVERTIBLE NOTES, WARRANTS AND SECURITY AGREEMENT

     

     

    This
      AMENDMENT NO. 2 TO SECURITIES PURCHASE AGREEMENT, SENIOR SECURED CONVERTIBLE
      NOTES, WARRANTS AND SECURITY AGREEMENT (this “Amendment”) is made and entered
      into as of September 19, 2008, by and among Biophan Technologies, Inc., a Nevada
      corporation (the “Biophan”), and the purchasers identified on the signature
      pages hereto (each, a “Purchaser” and, collectively, the
“Purchasers”).

     

    RECITALS

     

    Biophan
      and the Purchasers are parties to a Securities Purchase Agreement, dated as
      of
      October 11, 2006 (the “Purchase Agreement”), pursuant to which Biophan issued
      and sold to the Purchasers an aggregate of $7,250,000 of Notes and certain
      Warrants (each as defined in the Purchase Agreement). Capitalized terms used
      and
      not defined in this Amendment shall have the respective meanings set forth
      in
      the Purchase Agreement or in the Forbearance Agreement, dated as of February
      16,
      2007 with the holders of the Notes (the “Forbearance Agreement”).

     

    In
      connection with the Purchase Agreement, Biophan and the Purchasers entered
      into
      a Security Agreement, dated as of October 11, 2006 (the “Security Agreement”),
      pursuant to which Biophan agreed to pledge and grant a security interest in
      the
      Collateral (as defined in the Security Agreement). 

     

    On
      October 11, 2007, Biophan and the Purchasers entered into an AMENDMENT NO.
      1 to
      SECURITIES PURCHASE AGREEMENT, SENIOR SECURED CONVERTIBLE NOTES, WARRANTS AND
      SECURITY AGREEMENT (“Amendment No. 1”).

    

    Whereas,
      Biophan and the Purchasers have agreed that it is their mutual best interests
      for Biophan to repay the Notes and, to accomplish the same, now wish to further
      modify certain of the terms of the Purchase Agreement, Notes, Warrants and
      the
      Security Agreement. 

     

    NOW,
      THEREFORE, in consideration of the foregoing Recitals and other good and
      valuable consideration, the receipt and sufficiency of which are hereby
      acknowledged, Biophan and each Purchaser, severally and not jointly, agree
      as
      follows:

     

    1.
      Amendments
      to Purchase Agreement and the Notes. 

    

    (a) Each
      Purchaser may elect, by written notice to such effect delivered to Biophan
      no
      later than September 19, 2008 (the “Repayment Election Notice”), to accept, in
      repayment of its Note in full and satisfaction and cancellation of all of
      Biophan’s obligations under the Transaction Documents (other than the Warrants
      and the Fee Warrants (as defined in the Forbearance Agreement) if the Purchaser
      elects to retain the same as hereinafter provided, or including the Warrants
      and
      the Fee Warrants if the same are surrendered as hereinafter provided), either
      (i) to surrender its Warrants and Fee Warrants to Biophan for cancellation,
      and
      in consideration receive the “Cash Payment”, the “Repayment Shares” and the
“Premium Shares” allocated to such Purchaser under the columns on the attached
      table that are designated as “Option A - Premium Shares and Cancellation of
      Warrants”, or (ii) to retain its Warrants and Fee Warrants on their current
      terms without any modification, amendment or other adjustment solely by reason
      of this Amendment, and receive the “Cash Payment” and the “Repayment Shares”
allocated to such Purchaser under the columns on the attached table that are
      designated as “Option B - Warrants Remain in Place”. 

    

    (b) Any
      Purchaser who has executed and delivered this Amendment, who fails to deliver
      timely to Biophan a Repayment Election Notice, shall be deemed to have given
      Biophan notice of its election to receive the consideration set forth in (a)(i)
      above, and to surrender to Biophan on or before September 25, 2008 its Warrants
      for cancelation.

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    2.
      Continued
      Validity of Transaction Documents under Purchase Agreements.
      The
      parties hereto agree that (x) this Amendment shall be effective only if executed
      and delivered by all of the Purchasers, and (y) the Purchase Agreement and
      the
      Transaction Documents entered into in connection therewith (as amended by this
      Amendment), and the Forbearance Agreement, remain in full force and effect,
      modified to the extent and only to the extent necessary to give effect to this
      Amendment and the transactions herein contemplated.

    

    3.
      Entire
      Agreement.
      This
      Amendment and the Transaction Documents and the Forbearance Agreement, together
      with the exhibits and schedules thereto, contain the entire understanding of
      the
      parties with respect to the subject matter hereof and supersede all prior
      agreements and understandings, oral or written, with respect to such matters,
      which the parties acknowledge have been merged into such documents, exhibits
      and
      schedules.

     

    4.
      Equal
      Treatment of Purchasers.
      No
      consideration shall be offered or paid to any person to amend or consent to
      a
      waiver or modification of any provision of any of the Transaction Documents
      (or
      the Forbearance Agreement) unless the same consideration is also offered to
      all
      of the parties to the Transaction Documents (and the Forbearance Agreement).
      For
      clarification purposes, this provision constitutes a separate right granted
      to
      each Purchaser by Biophan and negotiated separately by each Purchaser, and
      is
      intended to treat Biophan and the Purchasers as a class and shall not in any
      way
      be construed as the Purchasers acting in concert or as a group with respect
      to
      the purchase, disposition or voting of Securities or otherwise.

     

    5.
      Public
      Announcement.
      Biophan
      shall, by 8:30 a.m. Eastern time on September 24, 2008, issue a press release
      disclosing the material terms of the transactions contemplated hereby and timely
      file a Current Report on Form 8-K (the “8-K Filing”), attaching such press
      release and this Amendment. From and after the filing of the 8-K Filing with
      the
      Commission, the Company represents that the Purchasers shall not be in
      possession of any material, nonpublic information received from the Company,
      any
      of its Subsidiaries or any of its respective officers, directors, employees
      or
      agents that is not disclosed in the 8-K Filing. Biophan shall not, and shall
      cause each of its Subsidiaries and its and each of their respective officers,
      directors, employees and agents, not to, provide any Purchaser with any
      material, nonpublic information regarding the Company or any of its Subsidiaries
      from and after the filing of the 8-K Filing with the Commission without the
      express written consent of such Purchaser. 

     

    6.
      Notices.
      Any and
      all notices or other communications or deliveries required or permitted to
      be
      provided hereunder shall be in writing and shall be deemed given and effective
      as specified in the Purchase Agreement. The address for such notices and
      communications shall be as set forth on the signature pages attached to the
      Purchase Agreement. 

     

    
      	 	
              7.

            	
              Miscellaneous.

            

    

    

    7.1.
      Amendments;
      Waivers.
      No
      provision of this Amendment may be waived or amended except in a written
      instrument signed, in the case of an amendment, by Biophan and each Purchaser
      or, in the case of a waiver, by the party against whom enforcement of any such
      waiver is sought. No waiver of any default with respect to any provision,
      condition or requirement of this Amendment shall be deemed to be a continuing
      waiver in the future or a waiver of any subsequent default or a waiver of any
      other provision, condition or requirement hereof, nor shall any delay or
      omission of either party to exercise any right hereunder in any manner impair
      the exercise of any such right.

     

    7.2.
      Amendment
      Controls.
      If any
      topic is addressed both in the Purchase Agreement (or any document related
      thereto) and in this Amendment, this Amendment shall control.

     

    7.3
      Construction.
      The
      headings herein are for convenience only, do not constitute a part of this
      Amendment and shall not be deemed to limit or affect any of the provisions
      hereof. The language used in this Amendment will be deemed to be the language
      chosen by the parties to express their mutual intent, and no rules of strict
      construction will be applied against any party.

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    7.4
      Governing
      Law.
      All
      questions concerning the construction, validity, enforcement and interpretation
      of this Amendment shall be governed by and construed and enforced in accordance
      with the internal laws of the State of New York, without regard to the
      principles of conflicts of law thereof. The parties agree that Section 7.9
      of
      the Purchase Agreement shall apply to this Amendment as if set forth in its
      entirety herein.

     

    7.5
      Survival.
      The
      representations and warranties contained herein shall survive for the applicable
      statue of limitations.

     

    7.6
      Execution.
      This
      Amendment may be executed in two or more counterparts, all of which when taken
      together shall be considered one and the same document and shall become
      effective when counterparts have been signed by each party and delivered to
      the
      other party, it being understood that both parties need not sign the same
      counterpart. 

     

    7.7
      Severability.
      If any
      provision of this Amendment is held to be invalid or unenforceable in any
      respect, the validity and enforceability of the remaining terms and provisions
      of this Amendment shall not in any way be affected or impaired thereby and
      the
      parties will attempt to agree upon a valid and enforceable provision that is
      a
      reasonable substitute therefore, and upon so agreeing, shall incorporate such
      substitute provision in this Amendment.

    

    7.8
      Independent
      Nature of Purchasers’ Obligations and Rights.
      The
      obligations of each Purchaser hereunder are several and not joint with the
      obligations of any other Purchaser, and no Purchaser shall be responsible in
      any
      way for the performance of the obligations of any other Purchaser. Nothing
      contained herein, and no action taken by any Purchaser pursuant hereto, shall
      be
      deemed to constitute the Purchasers as a partnership, an association, a joint
      venture or any other kind of entity, or create a presumption that the Purchasers
      are in any way acting in concert or as a group with respect to such obligations
      or the transactions contemplated hereby. Each Purchaser shall be entitled to
      independently protect and enforce its rights, including, without limitation,
      the
      rights arising out of this Amendment and it shall not be necessary for any
      other
      Purchaser to be joined as an additional party in any proceeding for such
      purpose. The Purchasers have not relied upon the same legal counsel in their
      review and negotiation of this Amendment. Biophan has elected to provide all
      Purchasers with the same terms and form of Amendment for the convenience of
      Biophan and not because it was required or requested to do so by the Purchasers.
      Each Purchaser represents that it has been represented by its own separate
      legal
      counsel in its review and negotiations of this Amendment.

     

    (Signature
      Pages Follow)

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    IN
      WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly
      executed by their respective authorized signatories as of the date first
      indicated above.

    

    
      	
              BIOPHAN
                TECHNOLOGIES, INC.

            	
               

            
	
               

            	
               

            	
               

            
	
               

            	
               

            	
               

            
	
              By: 
                

            	
              /s/
                John F. Lanzafame

            	
               

            
	
               

            	
              Name:
                John F. Lanzafame

            	
               

            
	
               

            	
              Title:
                Chief Executive Officer

            	
               

            

    

     

    [REMAINDER
      OF PAGE INTENTIONALLY LEFT BLANK

    SIGNATURE
      PAGE FOR PURCHASERS FOLLOWS]

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    IN
      WITNESS WHEREOF, the undersigned have caused this Amendment to be duly executed
      by their respective authorized signatories as of the date first indicated
      above.

     

    Name
      of
      Investing Entity:
      Iroquois
      Master Fund, Ltd.                  

     

    Signature
      of Authorized Signatory of Investing Entity: /s/
      Joshua Silverman    

    

    Name
      of
      Authorized Signatory:
      Joshua Silverman                    

     

    Title
      of
      Authorized Signatory: Authorized
      Signatory                   

    

    Email
      Address of Authorized Entity                             

    
      	 	
              Initial
                Below to Indicate Choice

            
	 	 
	
              Option
                A - Premium shares and cancellation of warrants

            	 
	 	 
	 	 
	
              Option
                B - Warrants remain in place

            	
              JS

            
	 	 

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      
        

      

    

    IN
      WITNESS WHEREOF, the undersigned have caused this Amendment to be duly executed
      by their respective authorized signatories as of the date first indicated
      above. 

    
      
        

      

    

     

    IN
      WITNESS WHEREOF, the undersigned have caused this Amendment to be duly executed
      by their respective authorized signatories as of the date first indicated
      above.

     

    Name
      of
      Investing Entity:
      CAMOFI
      Master Fund LLC                  
      

     

    Signature
      of Authorized Signatory of Investing Entity: /s/
      Richard Edelson    

     

    Name
      of
      Authorized Signatory:
      Richard Edelson                     

     

    Title
      of
      Authorized Signatory: CFO                            

     

    Email
      Address of Authorized Entity:                              

    

    
      	 	
              Initial
                Below to Indicate Choice

            
	 	 
	
              Option
                A - Premium shares and cancellation of warrants

            	
              RE

            
	 	 
	 	 
	
              Option
                B - Warrants remain in place

            	 
	 	 

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    Name
      of
      Investing Entity:
      Roswell
      Capital Partners/Bridge Pointe Master Fund Ltd

     

    Signature
      of Authorized Signatory of Investing Entity: /s/
      Eric S. Swartz        

     

    Name
      of
      Authorized Signatory:
      Eric
      S. Swartz                         

     

    Title
      of
      Authorized Signatory: Director                            

     

    Email
      Address of Authorized Entity:                                

    

    
      	 	
              Initial
                Below to Indicate Choice

            
	 	 
	
              Option
                A - Premium shares and cancellation of warrants

            	 
	 	 
	 	 
	
              Option
                B - Warrants remain in place

            	
              ES

            
	 	 

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

        IN
      WITNESS
      WHEREOF, the undersigned have caused this Amendment to be duly executed by
      their
      respective authorized signatories as of the date first indicated
      above.

     

    Name
      of
      Investing Entity:
      Cranshire Capital LP                       

     

    Signature
      of Authorized Signatory of Investing Entity: /s/
      Keith A. Goodman    

     

    Name
      of
      Authorized Signatory:
      Keith
      A. Goodman                     

     

    Title
      of
      Authorized Signatory:   COO
      - Downsview Capital, Inc., The General Partner 

     

    Email
      Address of Authorized Entity:                            

    

    
      	 	
              Initial
                Below to Indicate Choice

            
	 	 
	
              Option
                A - Premium shares and cancellation of warrants

            	 
	 	 
	 	 
	
              Option
                B - Warrants remain in place

            	
              KG

            
	 	 

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

        IN
      WITNESS
      WHEREOF, the undersigned have caused this Amendment to be duly executed by
      their
      respective authorized signatories as of the date first indicated
      above.

     

    Name
      of
      Investing Entity:  Highbridge
      International, LLC                        

                By:
      Highbridge Capital management, LLC, its Trading Manager

     

    Signature
      of Authorized Signatory of Investing Entity: /s/
      Adam J. Chill               

     

    Name
      of
      Authorized Signatory:
      Adam
      J. Chill                                

     

    Title
      of
      Authorized Signatory: Managing
      Director                             

     

    Email
      Address of Authorized Entity:                                    

    
      	 	
              Initial
                Below to Indicate Choice

            
	 	 
	
              Option
                A - Premium shares and cancellation of warrants

            	
              A.C.

            
	 	 
	 	 
	
              Option
                B - Warrants remain in place

            	 
	 	 

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

        IN
      WITNESS
      WHEREOF, the undersigned have caused this Amendment to be duly executed by
      their
      respective authorized signatories as of the date first indicated
      above.

     

    Name
      of
      Investing Entity:
      Rockmore
      Investment Master Fund, Ltd.           

     

    Signature
      of Authorized Signatory of Investing Entity: /s/
      Michael Clateman    

    

    Name
      of
      Authorized Signatory:
      Michael Clateman                    

    
Title
      of
      Authorized Signatory:   Managing
      Director                    

     

    Email
      Address of Authorized Entity:                            

     

    
      	 	
              Initial
                Below to Indicate Choice

            
	 	 
	
              Option
                A - Premium shares and cancellation of warrants

            	 
	 	 
	 	 
	
              Option
                B - Warrants remain in place

            	
              MC

            
	 	 

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

        IN
      WITNESS
      WHEREOF, the undersigned have caused this Amendment to be duly executed by
      their
      respective authorized signatories as of the date first indicated
      above.

     

    Name
      of
      Investing Entity:
      Harborview Master Fund, L.P.                   
        

     

    Signature
      of Authorized Signatory of Investing Entity: /s/
      Susan Parker        

     

    Name
      of
      Authorized Signatory:
      Susan
      Parker                         

                      
Navigator
      Management Ltd.,
      Authorized Signatory

     

    Title
      of
      Authorized Signatory:                                  

    

    Email
      Address of Authorized Entity:                              

    

    
      	 	
              Initial
                Below to Indicate Choice

            
	 	 
	
              Option
                A - Premium shares and cancellation of warrants

            	 
	 	 
	 	 
	
              Option
                B - Warrants remain in place

            	
              SP

            
	 	 

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    IN
      WITNESS WHEREOF, the undersigned have caused this Amendment to be duly executed
      by their respective authorized signatories as of the date first indicated
      above.

     

    Name
      of
      Investing Entity:
      Crescent
      International Ltd                        

     

    Signature
      of Authorized Signatory of Investing Entity: /s/
      Maxi Brezzi                
      

     

    Name
      of
      Authorized Signatory:
      Maxi
      Brezzi                                 
      

     

    Title
      of
      Authorized Signatory:   Authorized
      Signatory                       

     

    Email
      Address of Authorized Entity:                                  

    

    
      	 	
              Initial
                Below to Indicate Choice

            
	 	 
	
              Option
                A - Premium shares and cancellation of warrants

            	
              MB

            
	 	 
	 	 
	
              Option
                B - Warrants remain in place

            	 
	 	 

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    IN
      WITNESS WHEREOF, the undersigned have caused this Amendment to be duly executed
      by their respective authorized signatories as of the date first indicated
      above.

     

    Name
      of
      Investing Entity:
      Atoll
      Asset Management, LLC/Truk Opportunity Fund, LLC        

     

    Signature
      of Authorized Signatory of Investing Entity: /s/
      Mitchell Fein                

    

    Name
      of
      Authorized Signatory:
      Mitchell Fein                                 
      

     

    Title
      of
      Authorized Signatory:   Vice
      President                                

    

    Email
      Address of Authorized Entity:                                      

    

    
      	 	
              Initial
                Below to Indicate Choice

            
	 	 
	
              Option
                A - Premium shares and cancellation of warrants

            	
              MF

            
	 	 
	 	 
	
              Option
                B - Warrants remain in place

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