Document:

gpxm10k20101231ex10-44.htm

Exhibit 10.44

 

ASSIGNMENT OF OPTION TO PURCHASE WARRANTS

This Assignment of Option to Purchase Warrants (the "Assignment") is entered into as of December 15, 2010, by and between Golden Phoenix Minerals, Inc., a Nevada corporation ("Golden Phoenix") and Richmond Partners Master Limited ("Assignee").

 

RECITALS

 

A.           Crestview Capital Master, LLC ("Crestview") is the holder of that certain Amended and Restated Debt Restructuring Warrant dated February 6, 2009 to purchase 23,000,000 shares of common stock of Golden Phoenix at a purchase price of $0.03 per share (the "Warrants").

 

B.           Crestview and Golden Phoenix entered into that certain Letter Agreement dated December 2, 2010, whereby Crestview granted Golden Phoenix the option ("Option") to purchase 15,000,000 of the 23,000,000 Warrants at a purchase price of $0.0285 per Warrant share, less $50,000 to be applied to the purchase price as a non- refundable deposit, on or before December 15,2010.

 

C.           Assignee desires to purchase 3,000,000 of those Warrants under the Option held by Golden Phoenix, and Golden Phoenix desires to assign its right to purchase 3,000,000 of the Warrants under the Option on the terms and conditions as set forth herein.

 

NOW THEREFORE, in consideration of the mutual promises contained herein, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows:

 

1.           Assignment. Golden Phoenix hereby agrees to the transfer, conveyance and assignment to Assignee of that portion of the Option constituting 3,000,000 Warrant shares, in consideration for a purchase price of $0.125 per Warrant share, for an aggregate purchase price of Three Hundred Seventy-five Thousand Dollars ($375,000) (the "Purchase Price").

 

2.           Escrow; Deliveries. Assignee agrees to transmit the Purchase Price via wire transfer of immediately available funds as per the below wire instructions within one (1) business day of the date of this Assignment, to be held in trust by Bullivant Houser Bailey, PC ("Exchange Agent") pending receipt of the original Warrants. Upon receipt of the Purchase Price and the Warrants, the Exchange Agent shall wire the exercise price of the Option attributable to the 3,000,000 Warrant shares being purchased, or $75,500, to Crestview, and will wire the balance of the Purchase Price to Golden Phoenix. Promptly upon receipt by the Escrow Agent of the Purchase Price and original Warrants, Golden Phoenix shall deliver a new warrant reflecting the Assignee's exercise of the Option to purchase 3,000,000 Warrant shares of common stock in Golden Phoenix at a purchase price of $0.03 per share and otherwise on the same terms and conditions as the Warrants held by Crestview.

  

  

  

   

	  	
Wire Instructions:

	  	  	  
	  	
Bank:

	
Bank of the West

	  	  	
3509 El Camino Ave.

	  	  	
Sacramento, CA 95821

 

	  	
Phone:

	
916-483-6601

	  	
Account Name:

	
Bullivant Houser Bailey Trust Account

	  	
Account No.:

	
014526947

	  	
ABA No.:

	
121100782

	  	
Swift Code:

	
BWSTUS66

3.           Binding. This Assignment shall be binding upon and inure to the benefit of the successors, assignees, personal representatives, heirs, and legatees of all the respective parties hereto.

 

4.           Counterparts. This Assignment may be executed in any number of counterparts, each of which shall be considered an original for all purposes, and all of which when taken together shall constitute a single counterpart instrument.

 

The undersigned have executed this Assignment effective as of the date first written above.

	  	
ASSIGNOR

	  	  
	  	
Golden Phoenix Minerals, Inc.

	  	  
	  	
By:  /s/ Thomas Klein   

	  	
Name:    Thomas Klein

	  	
Title:      CEO

	  	  
	  	  
	  	
ASSIGNEE

	  	  
	  	
Richmond Partners Master Limited

	  	  
	  	
By: Richmond Capital LLP

	  	
Title:eesc10k20101231ex10-c.htm

Exhibit 10-c

 

Entrust Processing Agreement

The agreement is made as of Jan.10,2010, by and between Harbin Yifeng Eco-environment Corp. (“Consignor”) and Harbin Dongxin Waste Recycling Corp.(“Consignee”).

This Agreement is hereby entered into on the basis of equality and mutual consent with the terms and conditions thereof being set out as follows:

1 The consignor desires to entrust the consignee to process the collected waste plastic bottles into PET bottles. And the consignee agrees to accept entrustment.

2 The consignee shall remove the caps, label of the bottles, shatter, clean, potch, dehydrate and shatter again to produce PET bottles and do measuring package. The detailed processing rank and technology shall be performed as ordered.

3 Processing capacity is depended on the actual amount of raw materials received from the consignor. The consignee shall notify the consignor by telephone when the processing is done.

4 The consignee couldn’t cancel the processing orders after receiving the raw materials, unless both of the sides agree on it.

5 The consignor should deliver the raw materials to the consignee in five days before the work starts. Otherwise the consignee shall not be responsible for the loss resulted from lack of raw materials.

6 The consignee shall deliver order in less than fifteen days after receiving sufficient raw materials. If the consignee should process the raw materials which exceed their daily capacity, the working hours should be extended appropriately.

7 The allocation of the raw materials is depended on the inspection at the consignor's premises.

The consignor shall authorize the representative to inspect the quality of the processed PET bottles, which shall be inspected in accordance with such inspection standards.

8 Processing charge: 1200 RMB per ton (including transportation expense from the consignor to consignee, VAT and package )

9 Payment of processing charge: fully paid within 10 days after the completion of processing

10 Responsibilities and obligations: The consignee should process the raw materials as the request of consignor, strictly control the quality and delivery time. Otherwise it will be regarded as the violation.

11 Both sides should consciously abide by the agreement, no breach of contract. If one party breaches the contract causing economic losses should compensate the other party.

  

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12 Both of the parties shall cancel the agreement with mutual consent. The consignor must take delivery of the remaining crude raw material and processed products in five days after the termination of the agreement.

13 This agreement, after its being signed by the parties concerned, shall remain in force for one year. It can be extended through mutual negotiation.

Consignor: Shibin Jiang

Consignee: Fugui Qin

Date: Jan.10,2010

*       *       *       *       *

Sales Agency Agreement

 

Party A: Harbin Yifeng Eco-environment Co.,Ltd.

Party B: Harbin Dongxin Waste Recycling Co.,Ltd

This agreement is entered into between the parties concerned on the basis of equality and mutual benefit to develop business on terms and conditions mutually agreed upon as follows:

ITEM 1 Party A hereby appoints Party B to act as his selling agent to sell the PET bottles.

Sales price of the product: 6400 RMB per ton accordingly

Quantity of Sale: according to the actual stock number of PET bottles, raw material inventory as well as production capacity, based on actual supplies.

ITEM 2 Transport and package:

The products should be packaged by bulk bag and transported as the request of Party B. Otherwise, Party A will be responsible for the loss in transit.

ITEM 3 Proof of delivery:

Party A should notify Party B timely after delivery, and fax the invoice to Party B at the fixed number, or scan the invoice and send it to Party B by email as the proof of delivery and account check.

ITEM 4 Payment

Party B issue list indicating sales volume or sign the delivery order as proof of settlement, when sell the products . Party B should make a payment on a timely basis according to the sales volume and commission price.

  

ITEM 5 Punishment on false product

As the sales agency, Party B processes the product on a commission basis. Party B must not use other products to imitate Party A’s product. If found, Party A shall cancel Party B’s right of agency and year-end rebate immediately.

 

  

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ITEM 6 Other terms & conditions:

Party B is the primary agency. If the annual sales volume is more than 2000 tons, it shall be settled as 6400 RMB per ton. Otherwise, it shall be settled as the market price.

ITEM 7 This agreement is in force for one year. It is in two originals; each party holds one.

Party A: Shibin Jiang

Party B: Fugui Qin

Date:January 20, 2010

*       *       *       *       *

Supplementary Agreement to Sales Agency Contract

 

Party A: Harbin Yifeng Eco-environment Co.,Ltd.

Party B: Harbin Dongxin Waste Recycling Co.,Ltd

Due to the increased price of collecting plastic and great market demand of PET plastic, Party A puts forward that selling price shall be settled at market prices. Under the principle of mutual benefit and joint development, Party B accept Party A’s request and Parties mutually agreed upon as follows ,

1 Regarding ITEM 7, the settlement price is adjusted from 6400 RMB to 7500 RMB per ton.

2 The adjusted price of PET will be effective starting from November 1, 2010.

3 The other items shall not be changed, continue to perform the original version.

4 This agreement is in two originals; each party holds one.

Party A: Shibin Jiang

Party B: Fugui Qin

Date: October 28, 2010

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