Document:

Unassociated Document

     

    Exhibit
10.1

     

    
      LETTER
OF INTENT

       

      THIS LETTER OF INTENT (the
“LOI”), is entered into
by and,

       

      
        	
                BETWEEN:  

              	
                MACKENZIE TAYLOR MINERALS,
      INC., a Nevada corporation having an office at Suite 904 – 228 26th
      Avenue S.W., Calgary, Alberta, Canada

              
	 	 
	 	(“COMPANY”) 

      

       

      
        	
                AND:

              	
                ABTECH INDUSTRIES, INC.,
      a Delaware corporation having an office at 4110 N. Scottsdale Road, Suite
      235, Scottsdale, Arizona,
      U.S.A.

              
	 	 
	 	(“XYT”)

      

      

      BACKGROUND
AND PURPOSE

      

      WHEREAS,
the Company is a publicly traded company on the United States over-the-counter
(“OTC”) bulletin board securities market.

      

      WHEREAS,
ABTECH is an environmental technologies firm dedicated to providing innovative
solutions to communities and industry addressing issues of water pollutants
and contamination and its products are based on polymer technologies
capable of removing hydrocarbons, sediment and other foreign elements from
still (ponds, lakes and marinas) or flowing water (curbside drains, pipe
outflows, rivers and oceans).

      

      WHEREAS,
the Company and ABTECH desire to enter into a reverse acquisition transaction
whereby the Company will acquire all of the shares of outstanding capital stock
of ABTECH in exchange for the issuance of a controlling ownership interest in
the Company to the shareholders of ABTECH .

      

      AGREEMENT

      

      NOW, THEREFORE,  in
consideration of the mutual agreements and representations contained herein, and
other good and valuable consideration, the receipt and sufficiency of which is
hereby acknowledged, the parties agree as follows:

       

      
        	
                1.  

              	
                Except for the provisions in
      Paragraphs 7-14, this proposal is expressly intended to be non-binding and
      subject to the satisfactory completion of due diligence and the
      negotiation of a mutually acceptable definitive agreement between the
      Company and ABTECH with regard to this
  transaction.

              

      

       

      
        	
                2.  

              	
                The
      Company and ABTECH agree that they will use their commercially reasonable
      efforts to enter into a definitive agreement containing substantially the
      same terms and provisions as set forth in Paragraphs 3-6 of this LOI
      within twenty one (21) days from the date of execution of this LOI (the
      “Definitive
      Agreement”).

              

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      
        	
                3.  

              	
                Upon
      the satisfaction of the conditions set forth herein and in the Definitive
      Agreement, the Company will acquire all of the issued and outstanding
      capital stock of ABTECH (through a reverse merger of ABTECH into a
      subsidiary of the Company or other mutually acceptable mechanism) in
      exchange for the issuance to ABTECH shareholders of 46,000,000 shares of
      common stock of the Company  (the “Exchange”).  Upon
      Closing, ABTECH shall become a wholly-owned subsidiary of the Company and
      ABTECH shareholders shall own approximately 78% of the outstanding shares
      of the Company on a post-Closing
basis.

              

      

       

      
        	
                4.  

              	
                The
      closing of the Exchange (the “Closing”) shall occur on
      or before ninety (90) days from the date on which ABTECH completes the
      audit of its financial statements as required to be filed by the Company
      upon the Closing in accordance with the Securities Exchange Act of 1934,
      as amended, and ABTECH receiving no less than an aggregate of $3,000,000
      in financing from the Company.  Immediately after the Closing,
      the Company will have 59,000,000 shares issued and
      outstanding.

              

      

       

      
        	
                5.  

              	
                At
      Closing, the Board of Directors of the Company shall be comprised of nine
      (9) directors. On or prior to the Closing, the Board of Directors of the
      Company shall appoint nine (9) directors of ABTECH onto the Board of
      Directors of the Company, and at Closing, the management of ABTECH shall
      be appointed as the management of the
Company.

              

      

       

      
        	
                6.  

              	
                The
      Definitive Agreement shall contain customary representation and
      warranties, covenants and indemnification provisions for transactions of
      this nature.

              

      

       

      
        	
                7.  

              	
                Neither party shall have any
      liability whatsoever to the other with respect to the non-binding
      provisions hereof or the failure to conclude the transactions described in
      such non-binding provisions for any reason whatsoever, including ABTECH’s
      failure to obtain approval for such transactions from its Board of
      Directors

              

      

       

      
        	
                8.  

              	
                No
      party hereto will make any disclosure or public announcements of the
      proposed transactions, the LOI or the terms thereof without the prior
      consent of the other parties, which shall not be unreasonably withheld, or
      except as required by relevant securities laws; provided, however, each
      party may issue press releases in the ordinary course of
      business.

              

      

       

      
        	
                9.  

              	
                Each
      party agrees and acknowledges that such party and its directors, officers,
      employees, agents and representatives will disclose business information
      and information about the proposed transaction in the course of securing
      financings for the Company and ABTECH and that the parties and their
      representatives may be required to disclose that information under the
      continuous disclosure requirements of the Securities Exchange Act of
      1934.

              

      

       

      
        	
                10.  

              	
                This
      LOI shall be construed in accordance with, and governed by, the laws of
      the State of Delaware, and each party separately and unconditionally
      subjects itself to the jurisdiction of any court of competent authority in
      the State of Delaware, and the rules and regulations thereof, for all
      purposes related to this agreement and/or their respective performance
      hereunder.

              

      

       

      
        
          
          

        

        
          2

          
            

          

        

        
          
          

        

      

       

      
        	
                11.  

              	
                The
      parties shall prepare, execute and file any and all documents necessary to
      comply with all applicable federal and state securities laws, rules and
      regulations in any jurisdiction where they are required to do
      so.

              

      

       

      
        	
                12.  

              	
                All
      references to currency in this LOI are references to the lawful currency
      of the United States of America.

              

      

       

      
        	
                13.  

              	
                This LOI may be executed in
      counterparts, by original or facsimile signature, with the same effect as
      if the signatures to each such counterpart were upon a single instrument;
      and each counterpart shall be enforceable against the party actually
      executing such counterpart.  All counterparts shall be deemed an
      original copy.

              

      

       

      
        	
                14.  

              	
                The delay or failure of a party to
      enforce at any time any provision of this LOI shall in no way be
      considered a waiver of any such provision, or any other provision of this
      LOI.  No waiver of, delay or failure to enforce any provision of
      this LOI shall in any way be considered a continuing waiver or be
      construed as a subsequent waiver of any such provision, or any other
      provision of this LOI.

              

      

      
 

      
        DATED
EFFECTIVE: APRIL 12, 2010

        

        

        MACKENZIE
TAYLOR MINERALS, INC.

      

      
        
          	 	 	 	 	 
	
                   

                	 	 	
                   

                	 
	
                  Terry
      Stimpson

                	 	 	
                   

                	 
	
                   

                	 	 	
                   

                	 
	ABTECH INDUSTRIES,
      INC.	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	Glen R. Rink	 	 	 	 

        

      

      

      
        
          
          

        

        
          3Unassociated Document

     

    
      SUPPLY
AGREEMENT

      (the
“Agreement”)

      

      THIS AGREEMENT, is entered
into as of this 5 day of May, 2010 (the “Effective Date”), by and between Havaya Corp., a Delaware
company with its principal place of business at 51 Sheshet Hayamim St., Kfar
Saba, 44269, Israel (the “Buyer”), and Pacific Naturals, a California
company with its principal place of business at 2049 N. Lincoln Street, Burbank
CA, 91504 (the “Supplier”).  The Buyer and the Supplier are each a
“Party” and collectively the “Parties”).

      

      WHEREAS, the Buyer intends to
market and sell teeth whitening kits under its own private label and the
Supplier manufacturers teeth whitening kits, which the Supplier has agreed to
manufacture under the Buyer’s private label (the “Private Label Products”);
and

      

      WHEREAS, the Buyer is
interested in purchasing from the Supplier, and the Supplier in interested in
supplying the Buyer with, the Private Label Products, all in accordance with the
terms and conditions of this Agreement.

      

      NOW, THEREFORE, in
consideration of the mutual promises contained herein, the parties agree as
follows:

      

      1.  Priority of
Terms.  The Preamble and Exhibits to this Agreement constitute
an integral part thereof.  In the event of a conflict, the terms
contained in this Agreement supersede the terms and conditions set forth in any
purchase order or purchase order approval document.

      

      2.  Purchase of
Products.  Subject to the terms and conditions of this
Agreement, the Supplier agrees to sell to the Buyer, and the Buyer agrees to
purchase from the Supplier, the Private Label Products listed in Exhibit A at
the prices listed in Exhibit A, for exclusive distribution of the particular
private label and sale to end customers by the Buyer.  In addition,
Supplier shall provide the Buyer with the order fulfillment services listed in
Exhibit A at the prices listed in Exhibit A.

      

      3.  Labeling and
Packaging. The Supplier shall label and package the Private Label
Products pursuant to the Buyer’s Instructions.

      

      4.  Regulatory
Approvals.  The Supplier shall ensure that all Private Label
Products sold to the Buyer shall be manufactured, labeled, packaged, and shipped
in conformity with all applicable governmental laws and regulations, and the
Supplier shall obtain and maintain throughout the term of this Agreement all
necessary regulatory and compliance certifications and approvals.

      

      5.  Purchase
Orders.  From time to time as needed and at Buyer’s sole
discretion, Buyer shall provide the Supplier with purchase orders for the
Private Label Products. Upon execution of this Agreement the Buyer shall provide
the Supplier with a purchase order for the purchase of 100 Private Label
Products.

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      6.  Exclusivity.  During
the Term of this Agreement, the Supplier shall not, directly or indirectly,
distribute or sell the Private Label Products to any third party without the
advanced written consent of the Buyer.

      

      7.  Payment
Terms.  The Buyer shall make payment on delivery or as mutually
agred between the parties each order within current month plus fifteen (15) days
after delivery, against presentation of an invoice.

      

      8.  Warranties.  The
Supplier warrants that the Private Label Products will be free of defects in
manufacture, materials, and workmanship.  The Supplier further
warrants that the Private Label Products do not infringe any patent, copyright,
or trade secret of any third party.  Upon the Buyer notifying the
Supplier of a defect in any Private Label Product, the Supplier will promptly
correct such defect or replace the defective Private Label Product, at no cost
to the Buyer.

      

      9.  Term.  The
term of this Agreement shall commence on the Effective Date, and shall extend
for a period of three (3) years, unless otherwise terminated pursuant to this
Section 8.  Upon completion of the initial three-year term and every
year thereafter, the term of the Agreement shall be automatically renewed for an
additional one year unless one Party gives the other Party sixty (60) days
advanced written notice of termination; provided, however, that as long as Buyer
purchases twenty thousand (20,000) Private Label Products in the first year,
Supplier may not terminate the Agreement.

      

      10.  Termination.  Notwithstanding
anything to the contrary, a Party may terminate this Agreement if (a) the other
Party materially breaches this Agreement and continues in such breach for thirty
(30) days after the non-breaching Party has given written notice thereof to the
other Party, or, subject to Section 8 above, for convenience with ninety (90)
days prior written notice.

      

      11.  Confidentiality.  The
receiving party shall maintain in confidence and protect the secrecy of all
confidential information of the other Party, and agrees that it shall not
disclose, transfer, use in an unauthorized manner, copy, or allow access to any
such confidential information to any employees, agents, or third parties, except
for those who have a need to know such confidential information to fulfill the
purposes of this Agreement, and who are bound by contractual obligations of
confidentiality and limitation of use sufficient to give effect to this Section
10.  The provisions of this Section 10 shall survive the expiration or
termination of this Agreement.

      

      12.  Indemnification.  The
Supplier shall indemnify the Buyer for any and all costs and expenses incurred
by the Buyer, directly or indirectly, (including without limitation, attorney’s
fees, settlement costs, court expense, and payments made in connection with any
proceeding brought against the Buyer), as a result of (a) any product liability
claim relating to, or any action by any third party in connection with, the
Products, provided that the Private Label Products, or use thereof, are alleged
to be the cause of the injury allegedly suffered; or (b) any claim that the
Private Label Products infringe the intellectual property rights of a third
party.

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      13.  Limitation of
Liability.

      

      13.1  IN
NO EVENT SHALL THE EITHER PARTY BE LIABLE TO THE OTHER FOR ANY CLAIM OR CLAIMS
ARISING OUT OF THIS AGREEMENT IN AN AMOUNT EXCEEDING THE AGGREGATE PROCEEDS PAID
BY BUYER TO SUPPLIER UNDER THIS AGREEMENT.

      

      13.2  EXCEPT
FOR CLAIMS OF INFRINGEMENT, BREACH OF CONFIDENTIALITY, FRAUD OR WILFULL
MISCONDUCT, IN NO EVENT SHALL EITHER PARTY BE LIABLE HEREUNDER FOR ANY INDIRECT,
INCIDENTAL, OR CONSEQUENTIAL DAMAGES (INCLUDING LOST BUSINESS PROFIT) SUSTAINED
BY SUCH PARTY OR ANY OTHER INDIVIDUAL OR ENTITY FOR ANY MATTER ARISING OUT OF OR
PERTAINING TO THE SUBJECT MATTER OF THIS AGREEMENT.  EACH PARTY HEREBY
EXPRESSLY ACKNOWLEDGES THAT THE FOREGOING LIMITATION HAS BEEN NEGOTIATED BY THE
PARTIES AND REFLECTS A FAIR ALLOCATION OF RISK.

      

      14.  Governing
Law.  This Agreement shall be governed by and construed under
the laws of the State of California.

      

      15.  Miscellaneous.  The terms and
conditions of this Agreement comprise the entire understanding of the Parties in
connection with the Products, and they shall prevail over any oral or written
understanding, commitment, representation, or undertaking entered into prior to
the signing of this Agreement.   Neither Party may assign
any of its respective rights and obligations under this Agreement, in whole or
in part, without the prior written consent of the other Party, which consent
shall not be unreasonably withheld; provided, however, that the Buyer may in its
sole discretion and without the consent of the Supplier, assign the Buyer’s
rights and obligations under this Agreement to any affiliate of the Buyer. This
Agreement may be executed any number of counterparts, each of which shall be an
original, but such counterparts shall together constitute but one and the same
instrument.

       

       

      IN WITNESS WHEREOF, the
Parties hereto have executed this Agreement:

      

      
        	
                Havaya
    Corp.

              	 
      	
                Pacific
      Naturals

              	 
	 
      	 
      	 
      	 
	 
      	 
      	 
      	 
	
                 

              	 
      	
                 

              	 
	
                Name:

              	 
      	
                Name:

              	 
	
                Title:

              	 
      	
                Title:

              	 
	
                Date:

              	 
      	
                Date:

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