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EQUIPMENT PURCHASE AGREEMENT

This EQUIPMENT PURCHASE AGREEMENT (the "Agreement") is made and entered into this 3rd day of October, 2007, by and between NORTH DEVELOPMENT, a ____________ Corporation ("Seller") and TARA MINERALS CORP., a Nevada corporation ("Buyer").

WHEREAS:

A.

Seller owns the equipment listed in Schedule “A” (the “Equipment”).

B.

Buyer desires to purchase from Seller and Seller desires to sell to Buyer, subject to the terms and conditions of this Agreement, all the Equipment.

NOW THEREFORE, in consideration of the mutual promises and covenants contained herein, the parties hereto, intending to be legally bound, agree as follows:

1)

Sale of Equipment. On the Closing Date (as hereinafter defined), Seller shall sell, assign, transfer and convey to Buyer, and Buyer shall purchase and acquire from Seller, free and clear of all security interests, liens, charges, claims or other encumbrances of any kind whatsoever, the Equipment.

2)

Purchase Price. The purchase price for the Equipment shall be $600,000, which will be payable in 1,200,000 restricted common shares of Tara Minerals Corp. (the “Shares”), minus any adjustments outlined in the Assessment Notice. The Shares will be issued to the Seller on the Closing Date upon the following:

a.

Titles to all Equipment transferred, free and clear of all security interests, liens, charges, claims or other encumbrances of any kind whatsoever, in the name of American Metal Mining S.A. de C.V., a subsidiary of the Buyer. Any costs associated with the transfer of title shall be the responsibility of the Seller;

b.

All Equipment delivered to the Don Roman property, located in Choix, Sinaloa State, Mexico, by and at the cost of the Buyer, within 60 days of signing of this Agreement;

c.

The Purchase Price will be adjusted for any such loss or destruction or damage incurred prior to the Buyer taking possession to transport the Equipment. All adjustments will be outlined in the issuance of the Assessment Notice; 

d.

The Closing Date is defined as the date of acceptance of the Assessment Notice by the Seller and the Buyer through signature of such acceptance on the Assessment Notice.

e.

If within 30 days of the delivery of the Assessment Notice the Seller and Buyer cannot agree on the Assessment Notice, then this Agreement will be null and 

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Initials: /s/ CB  /  /s/ FRB   

void and Seller and Buyer will each be responsible for 50% of the delivery costs of the Equipment.  

3)

The Buyer shall be responsible for delivery costs of the Equipment.

4)

Other Expenses. All other costs and expenses incurred by each party hereto in connection with all things required to be done by it hereunder, including attorneys' and accountant fees, shall be borne by the party incurring same.

5)

Assignment of Warranties. Seller agrees to assign to Buyer at closing; any and all valid warranties it may have in and to the Equipment; provided that Seller shall not be obligated to assign any warranties which are non-assignable pursuant to their terms. A detailed invoice describing all refurbishment work that was performed on the equipment shall also be included where applicable.

6)

The Buyer will use its best efforts to file a registration statement covering the Shares issued to the Seller within 120 days of the Closing Date.

7)

The agreements of the respective parties to the Agreement shall be binding on the parties’ respective successors and assigns.

8)

This Agreement is the sole and complete expression of the understandings and agreements of the parties hereto and may not be amended or altered in any way, except in writing executed by all parties hereto.  This Agreement supersedes any and all prior or contemporaneous agreements of the parties, whether written or oral.

9)

The provisions of the Agreement are contractual and are enforceable as such.

10)

This Agreement may be executed in counterparts, and if so executed, each counterpart shall be deemed an original.

11)

Neither the parties hereto or the parties’ respective attorneys shall be deemed the drafter of this Agreement in any litigation, or other proceeding which hereafter may arise between or among them.

12)

Any dispute which may arise under the Agreement shall be settled through binding arbitration in Wheaton, Illinois in accordance with the Commercial Arbitration Rules of the American Arbitration Association.

13)

Neither party has relied upon the representations made by the other in entering into this Agreement and have been responsible for their own due diligence.

Kindly signify your acceptance of the terms contained herein by signing in the appropriate space below and returning a copy of the fully executed Agreement to Tara Minerals Corp. to the attention of the President by facsimile at 630-456-4135.  Upon receipt by facsimile as aforesaid, the Agreement will be considered executed and a binding obligation of the parties will have been formed.

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Initials: /s/ CB  /  /s/ FRB   

The above noted terms are hereby accepted this 5th day of October, 2007.

TARA MINERALS CORP.

Per:

/s/ Francis R. Biscan JR.                         

Francis R. Biscan Jr., President and CEO

NORTH DEVELOPMENT 

Per:

/s/ Calvin Boender                             

_____________, CEO and Director

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Initials: /s/ CB  /  /s/ FRB   

Schedule “A”

The Equipment

			
	EQUIPMEN #

	DESCRIPTION

	

FFP-001

	FULL PORTABLE FLOATATION MILL PLANT

	TC-20

	CONE CRUSHER

	CV-412

	VIBRATORY SCREENER

	TC-038

	PORTABLE CRUSHER CEDARAPID COMMANDER

	MB-65

	BALL MILL

	PD-34

	DIAMOND DRILL 34

	PD-100

	DIAMOND DRILL PACK-SACK

	CA-01

	ARTICULATED DUMP TRUCK

	CA-02

	ARTICULATED DUMP TRUCK

	BF-415

	FLOATATION CELL BANK

	BF-415

	FLOATATION CELL BANK

	BF-818

	FLOATATION CELL BANK

	BF-448

	FLOATATION CELL BANK

	AC-86

	CONDITIONER TANK

	AC-85

	CONDITIONER TANK

	AC-44

	CONDITIONER TANK

	AC-44

	CONDITIONER TANK

	TC-36

	CONE CRUSHER

	BT-2412

	CONVEYOR 24" X 12 METERS

	BT-2415

	CONVEYOR 24" X 12 METERS

	BT-186

	CONVEYOR 18" X 8 METERS

	CF-424

	FLOATATION CELL BANK

	MB-65

	BALL MILL

	SP-2YDS

	SCOOPTRAM

	SP-1YDS

	SCOOPTRAM

	TQ-1024

	JAW CRUSHER

	TQ-46

	JAW CRUSHER

	TA-1YDS

	ARTICULATED LOADER

	CA-175

	AIR COMPRESSOR

	TQ-1838

	JAW CRUSHER

	BL-33

	SLURRY PUMP

	CA-185

	AIR COMPRESSOR

	100-TP

	PIPES FOR DIAMOND DRILL EQUIPMENT

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Initials: /s/ CB  /  /s/ FRB   

			
	EQUIPMEN #

	DESCRIPTION

	

BL-33

	SLURRY PUMP

	JP-001

	JEEP PATRIOT 07 

	TO-002

	PICK UP TOYOTA 95 

	JD-01

	JOHN DEER BACKHOE

	JD-02

	JOHN DEER BACKHOE

	MB-610

	BALL MILL (PANCHO)

Tara Equipment Purch Agree 10-3-07

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Initials: /s/ CB  /  /s/ FRBEXHIBIT 10.1  

January 15,
2008 

Dr. Juergen
Gromer

Im Tiefen Weg 44

64625 Bensheim

Federal Republic of Germany 

	Re:
	Consulting
Agreement 

Dear
Juergen: 

        Tyco
Electronics Ltd. (the "Company") would like to retain your services on a consulting basis after your retirement from active employment on December 31, 2007. The
consulting arrangement will be in addition to your role with the Company as a non-employee director. You and I have discussed the nature of the consulting arrangement and the purpose of
this letter agreement is to document our understanding. 

        Term.
The consulting arrangement will begin on January 15, 2008 and end on December 31, 2008. 

        Either
you or the Company may terminate the arrangement at any time on sixty (60) days' written notice to the other party. However, either party may immediately terminate the
arrangement if the other party is in material breach of its obligations under this agreement and such party has failed to remedy the breach within a reasonable period after receiving notice from the
terminating party. 

        Services.
During the term of this arrangement, you will make yourself available to me on a reasonable basis to provide assistance at client meetings,
industry trade shows and such other customer relationship activities as I deem necessary and appropriate. 

        While
performing your services under this agreement, you will be acting as an independent contractor and you will not hold yourself out as an officer, employee, agent, or principal of
the Company. You also acknowledge that, as a result of the services provided under this agreement, you will not be entitled to, nor shall you make any claim for, any benefits afforded to Company's
employees including, without limitation, workers' compensation, disability insurance, stock options, pension benefits, vacation or sick pay. 

        Consulting
Fees. As remuneration for your services, we will pay you a monthly consulting fee equal to EUR11,340. The Company will reimburse you for all
reasonable out-of-pocket travel and other expenses incurred in connection with your performance of the services hereunder. Travel and other expenses will be reimbursed in
accordance with the Company's Travel Expense Reimbursement Policy. 

        You
will be directly responsible for all costs of your self-employment, including without limitation any federal, local or social tax payments due as a result of the
remuneration paid to you hereunder. 

        Effect
of Other Agreements. You and the Company acknowledge that, effective January 1, 2008, you will become a non-employee director of
the Company and you will be entitled to remuneration for such services. In addition, you and the Company are parties to a Retirement and Separation Agreement dated April 11, 2007 (the
"Separation Agreement") under which you are entitled to receive various payments and benefits, and you may also be entitled to receive benefits under Company benefit plans arrangements on account of
your employment with the Company prior to January 1, 2008. Nothing in this Agreement is intended to supersede or affect your rights or obligations as a non-employee director of the
Company, or your rights or obligations under the Separation Agreement or any Company benefit plan or arrangement. 

 

        Board
Approval. The terms of your consulting arrangement, as reflected in this Agreement, are subject to the approval of the Board of Directors of the
Company. This Agreement has no force or effect until approved by the Board. 

        Governing
Law. This agreement will be governed by Bermuda law. 

        If
the terms and conditions of this agreement are acceptable to you, please countersign the agreement where noted below and return one original copy to Jane. 

Regards,

/s/
Thomas J. Lynch 

Thomas
J. Lynch

Chief Executive Officer

Tyco Electronics Ltd. 

Accepted
this 15th day of January, 2008. 

	/s/ Juergen W. Gromer
 Juergen W. Gromer	 	 

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