Document:

mondialexh1001.htm

Exhibit 10.01

  

MODIFICATION AND EXTENSION TO AMENDED PARTICIPATION AGREEMENT

AMENDED JULY 31, 2014

(Turnkey Drilling, Re Entry, and Multiple Wells)

This Modification and Extension to Amended Participation Agreement dated July 31, 2014 amending the March 26, 2014 Modification and Extension to Amended Participation Agreement is in accordance with Exhibit “B” of an *Asset Purchase Agreement made and entered into as of January 21, 2014, the Effective Date (“Effective Date”), by and among Shale Corp., a corporation organized under the laws of the Province of Ontario in Canada with its principal place of business located at 365 Bay St, Suite 400, Toronto On, M5H 2V1(the “Company”), and the Investor acting as Mondial Ventures, Inc., along with approvals from Success Oil Co., Inc., its Operator and Partner, EGPI Firecreek, Inc. via its wholly owned subsidiary Energy Producers, Inc., Partner, and TWL Investments, aLLC, investing participants, herewith amend, modify and extend the following provision to the January 21, 2014 Amended Participation Agreement (please see *Asset Purchase Agreement included as Exhibit A in the Exhibit 10.1 to a Current Report on Form 8-K filed by Mondial Ventures, Inc. with the Securities and Exchange Commission on April 3, 2014):

Section II. paragraph one shall be modified and extended to read:  

II.  Consideration

  

Participants shall deliver to Operator Participant’s share of the Turnkey Cost to Casing Point for drilling of the first Prospect Well, and the first Program initiated from successful financing will be for the Ellenburger Prospect Well formation at approximately 8,300 foot depth, as provided for in this Agreement and listed as follows in this section II. 1) below within a reasonable time after the execution and effective date of this Agreement not to exceed the period ending August 30, 2014, unless mutually extended by all parties to this Agreement in writing to be attached hereto. In addition, if the Turnkey Costs are delivered for the first Prospect Well listed in II. 1) below, the parties agree to extend timing for agreed participation up to two years but no less than one year. A draft for formal terms will be then delivered by participant 1 in coordination with Success for acceptance by the parties.

  

Agreed this 31st day of July, 2014 by the undersigned:

 

  

  

	
Mondial Ventures, Inc.

	
Success Oil Co., Inc.

	
TWL Investments, a LLC

	 	 	 
	 	 	 
	
  

/s/Dennis R Alexander

	
  

/s/Jeru M. Morgan

	
  

/s/Larry W. Trapp

	
President and CEO

	
President and CEO

	
Managing Director

	 	 	 
	
Energy Producers, Inc., a wholly owned Subsidiary of EGPI Firecreek, Inc

	 	 
	 	 	 
	
/s/Dennis R Alexander

	 	 
	
Dennis R. Alexander

	 	 
	
President and CEOmondialexh1002.htm

Exhibit 10.02

FOURTH AMENDMENT TO

MODIFICATION, AMENDMENT, AND FURTHER EXTENSION

OF THE “AGREEMENT TO EXTEND OPTION” DATED EFFECTIVE ON DECEMBER 31, 2013

WHEREAS THIS AGREEMENT MODIFIES, AMENDS, AND 

EXTENDS THE PREVIOUS DECEMBER 31, 2013 AGREEMENT TO

EXTEND OPTION BETWEEN THE FOLLOWING PARTIES:

EGPI Firecreek, Inc. on behalf of itself and all of its wholly owned subsidiaries including, but not limited to, Energy Producers, Inc. (“EPI”), and conjunction with Mondial Ventures, Inc., and now amended to be by and through the Amalgamation processes between Shale Corp. and Newco resulting in the surviving entity now known as 2301840 Ontario Inc. Incorporated under the Laws of the Province of Ontario, and which is now a wholly owned subsidiary of Boomerang Oil, Inc. (formerly 0922337 BC LTD) (“Boomerang”), a Majority owned subsidiary of Mondial Ventures, Inc. ("Mondial"), having entered into an Agreement to Extend Option (the "Agreement") with Success Oil Company Inc. ("Success"), (individually and collectively referred to as the "Parties'', most recently on December 31, 2013, regarding a certain option agreement (the "Option Agreement") for participation rights in certain oil and gas property interests dated November 30, 2011 and most recently amended herewith as of June 30, 2014.

In the best interests of the parties the following provisions of the Agreement shall be revised, amended and or modified to read as follows:

Section 2, shall be restated to read: the Parties wish to extend the Option Agreement, through August 30, 2014 unless further modified or extended by the parties to this Agreement in writing and attached or made a part of hereto.

Section 5. shall be restated to read as follows:

August 30, 2014, unless further modified or extended by the parties to this Agreement in writing and attached or made a part of hereto.

Section 9.b. shall read as follows:

The note, which is acknowledged to be in default, and further as described in paragraphs 6 and 8, shall remain due and payable until April 1, 2014 during which time EGPI or Mondial may, within 5 days thereof, either i) pay the full amount due, or ii) convert the entire balance of the note to shares in EGPI Firecreek, Inc. (“EGPI”) or Mondial (“MNVN”) on terms then negotiated, but on terms no less favorable than those given to any other lender or creditor of EGPI or Mondial, and in accordance with rules and regulations governing such transactions. If neither of i) or ii) are acceptable to Success then the obligation created under the EGPI Note shall convert/revert to the Joint Operating Billing Statement (JIBS), and be attributable to the interest holders on a pro rata basis according to their interests, derived from the net of current existing proved producing revenues with reserves at the date of even with this agreement, according to interests then held by EPI, a wholly owned subsidiary of EGPI Firecreek, Inc. and, Boomerang Oil Inc., a majority owned subsidiary of Mondial, and under the same terms as agreed upon in the Note, and upon such occurring the then EGPI Note shall forever be fully discharged, voided and canceled by Success.

IN WITNESS WHEROF, the Parties have caused this Agreement to be executed on the date set forth below.

(These revisions, amendments, and or modifications shall be effective as of July 31, 2014.)

 

  

	
SUCCESS OIL CO., INC.

	
EGPI FIRECREEK, INC.,

	
MONDIAL VENTURES, INC.

	 	
and on behalf of EPI

	
By and through Shale Corp. (now 2301840 Ontario Inc.) a wholly owned subsidiary of Boomerang Oil, Inc., a Majority owned subsidiary of Mondial Ventures, Inc.

	 	 	 
	 	 	 
	
/s/Jeru Morgan

	
/s/Dennis Alexander

	
/s/Dennis Alexander

	 	 	 
	
By: Jeru Morgan,

	
By: Dennis Alexander

	
By: Dennis AlexanderEx. 10.1 - Directors Compensation Policy

SABRA HEALTH CARE REIT, INC.
DIRECTORS’ COMPENSATION POLICY 
(Effective June 24, 2014)
Directors of Sabra Health Care REIT, Inc., a Maryland corporation (the “Company”), who are not employed by the Company or one of its subsidiaries (“non-employee directors”) are entitled to the compensation set forth below for their service as a member of the Board of Directors (the “Board”) of the Company.  The Board has the right to amend this policy from time to time.
	
		
	Cash Compensation
	 

	Annual Retainer
	$50,000

	Additional Chair/Lead Independent Director Retainer
	$20,000

	Additional Committee Chair Retainers
	 

	Audit Committee Chair
	$15,000

	Compensation Committee Chair
	$10,000

	Nominating and Governance Committee Chair
	$10,000

	Committee Meeting Fee (per meeting)
	$1,000

	 
	 

	Equity Compensation
	 

	Annual Equity Award
	$75,000

	Initial Equity Award
	$20,000

Cash Compensation 
Each non-employee director will be entitled to an annual cash retainer while serving on the Board in the amount set forth above (the “Annual Retainer”).  A non-employee director who serves as the Chair of the Board or the Company’s Lead Independent Director will be entitled to an additional annual cash retainer while serving in that position in the amount set forth above (the “Additional Chair/Lead Independent Director Retainer”).  A non-employee director who serves as the Chair of the Audit Committee, the Compensation Committee or the Nominating and Governance Committee of the Board will be entitled to an additional annual cash retainer while serving in that position in the applicable amount set forth above (an “Additional Committee Chair Retainer”).  A non-employee director who attends a meeting of the Audit Committee, the Compensation Committee or the Nominating and Governance Committee of the Board (each, a “Committee Meeting”) will be entitled to a fee for attendance at the meeting in the amount set forth above (a “Committee Meeting Fee”); provided that the Committee Meeting Fee for a particular Committee Meeting will be reduced to $500 if the meeting is either (1) a telephonic meeting lasting for less than thirty minutes, or (2) a meeting that is held as an in-person meeting but the non-employee director attends the meeting other than in person. 
The amounts of the Annual Retainer, Additional Chair/Lead Independent Director Retainer, and Additional Committee Chair Retainers reflected above are expressed as annualized amounts.  These retainers will be paid on a quarterly basis, at the end of each quarter in arrears, and will be pro-rated if a non-employee director serves (or serves in the corresponding position, as the case may be) for only a portion of the quarter (with the proration based on the number of calendar days in the quarter that the director served as a non-employee director or held the particular position, as the case may be).  Committee Meeting Fees for attendance at one or more meetings that occur in a particular quarter will be paid at the end of that quarter.
Equity Awards
Initial Equity Awards 
For each new non-employee director appointed or elected to the Board, on the date that the new non-employee director first becomes a member of the Board, the new non-employee director will automatically be granted an award of restricted stock units (an “Initial RSU Award”) determined by dividing (1) the Initial Equity Award grant value set forth above by (2) the per-share closing price of the Company’s common stock on the date of grant (rounded down to the nearest whole unit).  Each Initial RSU Award will vest in equal monthly installments over the two-year period following the date of grant.  

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An employee or former employee of the Company or one of its subsidiaries who ceases or has ceased to be so employed and becomes a non-employee director will not be eligible for an Initial RSU Award grant, but will be eligible for cash compensation and annual equity awards on the same basis as other non-employee directors.
Annual Equity Awards for Continuing Board Members 
On the date of each annual meeting of the Company’s stockholders, each non-employee director then in office will automatically be granted an award of restricted stock units (an “Annual RSU Award”) determined by dividing (1) the Annual Equity Award grant value set forth above by (2) the per-share closing price of the Company’s common stock on the date of such annual meeting (rounded down to the nearest whole unit).  Each Annual RSU Award will vest in equal monthly installments over the one-year period following the date of grant.  Should the annual meeting of the Company’s stockholders in the year following the year in which the award was granted occur prior to the last vesting date of the award, the outstanding and unvested portion of the award will vest on the day prior to that annual meeting.  In the event that more than one annual meeting of the Company’s stockholders occurs during a given fiscal year, Annual RSU Awards will be made only in connection with the first such meeting to occur in that year. 
For each new non-employee director appointed or elected to the Board other than on the date of an annual meeting of the Company’s stockholders, on the date that the new non-employee director first becomes a member of the Board, the new non-employee director will be entitled to a pro-rata portion of the Annual RSU Award (a “Pro-Rata Annual RSU Award”) determined by dividing (1) a pro-rata portion of the Annual Equity Award grant value set forth above by (2) the per-share closing price of the Company’s common stock on the date the new non-employee director first became a member of the Board.  The pro-rata portion of the Annual Equity Award grant value for purposes of a Pro-Rata Annual RSU Award will equal the Annual Equity Award grant value set forth above multiplied by a fraction (not greater than one), the numerator of which is 12 minus the number of whole months that as of the particular grant date had elapsed since the Company’s last annual meeting of stockholders at which Annual RSU Awards were granted by the Company to non-employee directors, and the denominator of which is 12, with the result to be rounded down to the nearest whole unit.  Each Pro-Rata Annual RSU Award will vest in equal monthly installments based on the number of whole months remaining in the period beginning with the month following the month in which the Pro-Rata Annual RSU Award was granted and ending with the month in which the next scheduled annual meeting of the Company’s stockholders in which Annual RSU Awards will be granted.
Provisions Applicable to All Non-Employee Director Equity Awards
Each restricted stock unit award will be made under and subject to the terms and conditions of the Company’s 2009 Performance Incentive Plan (the “2009 Plan”) or any successor equity compensation plan approved by the Company’s stockholders and in effect at the time of grant, and will be evidenced by, and subject to the terms and conditions of, an award agreement in the form approved by the Board to evidence such type of grant pursuant to this policy (the “Form of Award Agreement”).  To the extent then vested, restricted stock units will generally be paid in an equal number of shares of the Company’s common stock on the earlier to occur of (1) that date that is five years following the original grant date, (2) the date the non-employee director ceases to be a member of the Board, or (3) the occurrence of a “change in control.”
Restricted stock unit awards granted under the 2009 Plan are generally forfeited as to the unvested portion of the award upon the non-employee director’s termination of service as a director for any reason.  However, vesting of a non-employee director’s outstanding and unvested restricted stock units will accelerate upon a change in control of the Company or should the director’s services terminate due to the director’s death or disability.
Non-employee directors are entitled to receive dividend equivalents with respect to outstanding and unpaid restricted stock units granted pursuant to this policy.  Dividend equivalents, if any, are paid in the form of a credit of additional restricted stock units under the 2009 Plan and are subject to the same vesting, payment and other provisions as the underlying restricted stock units.
  The definition of “change in control” and specific payment, termination and dividend equivalent provisions applicable to an award are set forth in the related Form of Award Agreement.

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Elective Grants of Equity Awards
Non-employee directors may participate in the Company’s Non-Employee Directors Stock-For-Fees Program, pursuant to which they may elect that certain of their cash retainers be converted into the right to receive an award of stock units under the 2009 Plan.
Expense Reimbursement 
All non-employee directors will be entitled to reimbursement from the Company for their reasonable travel (including airfare and ground transportation), lodging and meal expenses incident to meetings of the Board or committees thereof or in connection with other Board related business.  The Company will make reimbursement to a non-employee director within a reasonable amount of time following submission by the non-employee director of reasonable written substantiation for the expenses.
 

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