Document:

Filed by sedaredgar.com - Maverick Minerals Corporation - Exhibit 10.11

THIS LOAN AGREEMENT (the “Loan Agreement”) is
dated as of the 13th day of February, 2009 

AMONG: 

  
    
      
        MAVERICK MINERALS CORPORATION, a Nevada corporation
          with an address for business at 2501 Lansdowne Ave, Saskatoon, Saskatchewan,
          Canada, S7J 1H3

        (the “Borrower”) 

      

    

  

AND: 

  
    
      
        SENERGY PARTNERS LLC, a limited liability company
          with an address for business at 2245 N. Green Valley Pkwy, Ste. 429,
          Henderson, Nevada 89014 

        (the “Lender”) 

      

    

  

WHEREAS: 

A.          The
Lender has agreed to establish in favour of the Borrower a revolving loan for in
the aggregate amount of up to $1,000,000 (the “Loan”), subject to, among
other things, the execution and delivery of this Loan Agreement; and 

B.         The Lender
and Borrower are entering into this Loan Agreement to provide for the terms of
the Loan established in favour of the Borrower. 

THEREFORE, for value received, and intending to be
legally bound by this Loan Agreement, the parties agree as follows: 

ARTICLE 1 
DEFINED TERMS 

1.1       
Defined Terms 

            
In this Loan Agreement, unless something in the subject matter or context is
inconsistent therewith: 

	 	(a) 	
      “Advance” means an advance on account of the
      Loan;

	 	 	 
	 	(b) 	
      “Applicable Law” means all public laws, statutes,
      ordinances, decrees, judgments, codes, standards, acts, orders, by-laws,
      rules, regulations, official body consents, permits, binding policies and
      guidelines, and requirements of any Governmental Authority, which now or
      hereafter may be lawfully applicable to and enforceable against the
      Borrower or its property or any part thereof.

	 	 	 
	 	(c) 	
      “Borrower” means Maverick Minerals
    Corporation.

	 	 	 
	 	(d) 	
      “Business Day” means a day of the year, other than
      Saturday or Sunday, on which banks are open for business in Saskatoon,
      Saskatchewan.

	 	(e) 	
      “Closing Date” means February 13th, 2009 or such
      later date as agreed by the Lender and the Borrower.

	 	 	 
	 	(f) 	
      “Debt Settlement Agreement” means the debt
      settlement agreement dated as of February 10th, 2009 between
      the Borrower and the Lender attached as Schedule “B” hereto;

	 	 	 
	 	(g) 	
      “Encumbrances” means and includes any mortgage,
      charge, hypothec, privilege, pledge, security interest, lien, claim and
      encumbrance of any nature whatsoever or howsoever arising in respect of or
      affecting any Property, and includes any renewals or extensions thereof,
      which is not effectually postponed, subordinated or waived in favour of
      the indebtedness and liability from time to time in respect of the
      Loans.

	 	 	 
	 	(h) 	
      “Event of Default” has the meaning defined in
      Section 7.1.

	 	 	 
	 	(i) 	
      “GAAP” means generally accepted accounting
      principles in effect from time to time in the United States.

	 	 	 
	 	(j) 	
      “Governmental Authority” means, when used with
      respect to any person, any government, parliament, legislature, regulatory
      authority, agency, tribunal, department, commission, board,
      instrumentality, court, arbitration board, or arbitrator or other law,
      regulation or rule making entity (including a Minister of the Crown, any
      central bank, Superintendent of Financial Institutions or other comparable
      authority or agency) having or purporting to have jurisdiction on behalf
      of, or pursuant to the laws of, Canada or any country in which such person
      is incorporated or otherwise created or established or in which such
      person has any Property or carries on business, or any province,
      territory, state, municipality, district or political subdivision of any
      such country or of any such province, territory or state of such
      country.

	 	 	 
	 	(k) 	
      “Interest Rate” means 8% per annum calculated and
      compounded monthly, not in advance as well after as before maturity,
      default and judgment on the outstanding daily balance of the Loan based on
      the number of days elapsed in a 365 day year;

	 	 	 
	 	(l) 	
      “Lender” means Senergy Partners LLC.

	 	 	 
	 	(m) 	
      “Loan” means the revolving loan in the maximum
      principal amount of $1,000,000.

	 	 	 
	 	(n) 	
      “Maturity Date” means December 31, 2012, unless
      sooner determined due to the occurrence of an Event of Default;

	 	 	 
	 	(o) 	
      “Material Adverse Effect” means a material adverse
      effect (or a series of adverse effects, none of which is material in and
      of itself but which, cumulatively, (i) constitutes a material adverse
      change in the business, operations, financial condition or properties of
      the Borrower taken as a whole; (ii) that materially impairs the ability of
      the Borrower to timely and fully perform its obligations under the Loan
      Agreement, or (iii) that materially impairs the ability of the Lender to
      enforce its rights and remedies under this Loan Agreement.

	 	 	 
	 	(p) 	
      “Obligations” means all obligations of the
      Borrower to the Lender under or in connection with this Loan Agreement,
      including but not limited to all debts and liabilities, present or future,
      direct or indirect, absolute or contingent at any time owing by the
      Borrower to the Lender or remaining unpaid by the Borrower to the Lender
      or in

	 		
      connection with this Loan Agreement, whether arising from
      dealings between the Lender and the Borrower or from any other dealings or
      proceedings by which the Lender may be or become in any manner whatever a
      creditor of the Borrower under or in connection with this Loan Agreement,
      and wherever incurred, and whether incurred by the Borrower alone or with
      another or others and whether as principal or surety, and all interest,
      fees, legal and other costs, charges and expenses.

	 	 	 	 
	 	(q) 	
      “Permits” means licenses, authorizations,
      consents, certificates, registrations, exemptions, permits and other
      approvals, obtained from or required by a Governmental
Authority.

	 	 	 	 
	 	(r) 	
      “Permitted Encumbrances” means, with respect to
      any Person, the following:

	 	 	 	 
	 		(i) 	
      Encumbrances for taxes, rates, assessments or other
      charges of Governmental Authorities, charges or levies not yet due, or for
      which instalments have been paid based on reasonable estimates pending
      final assessments, or if due, the validity of which is being contested
      diligently and in good faith by appropriate proceedings by that person and
      for which adequate reserves have been established in accordance with
      GAAP;

	 	 	 	 
	 		(ii) 	
      undetermined or inchoate Encumbrances, rights of distress
      and charges incidental to current operations which have not at such time
      been filed or exercised and of which none of the Lender has been given
      notice, or which relate to obligations not due or payable or if due, the
      validity of which is being contested diligently and in good faith by
      appropriate proceedings by that person;

	 	 	 	 
	 		(iii) 	
      to the extent a security interest is constituted or
      created thereby, any right of first refusal in favour of any person
      granted in the ordinary course of business with respect to the properties
      of the Borrower, which in the aggregate do not detract materially from the
      value of any part of the Property of the Borrower or its use in the
      operations of the Borrower;

	 	 	 	 
	 		(iv) 	
      any interest of a third party under any pooling, unit
      development, overriding royalty, net profits interest, carried interest,
      reversionary interest or operating agreement affecting mineral or other
      natural resource rights entered into in the ordinary course of business
      between arm’s length third parties on reasonable commercial terms;
    and

	 	 	 	 
	 		(v) 	
      other Encumbrances expressly agreed to in writing by the
      Lender,

	 	 	 	 
	 		
      provided that nothing in this definition or this Loan
      Agreement shall (A) be construed as evidencing an intention or agreement
      on the part of the Lender that the Obligations hereunder be or have been
      subordinated to any such Permitted Encumbrance, or (B) cause any such
      subordination to occur.

	 	 	 	 
	 	(s) 	
      “Person” means and includes an individual, a
      partnership, a joint venture, a corporation, a limited liability company,
      a trust, an unincorporated organization and a government or any department
      or agency thereof;

	 	 	 	 
	 	(t) 	
      “Property” means, with respect to any person, any
      or all of its undertaking, property and
assets.

	 	(u) 	
      “Securities Laws” means all applicable securities
      laws in the relevant jurisdictions and the respective regulations made
      thereunder, together with applicable published fee schedules, prescribed
      forms, policy statements, orders, blanket rulings and other regulatory
      instruments of the securities regulatory authorities in such
      jurisdictions.

	 	 	 
	 	(v) 	
      “Security Documents” means the security documents
      set out in Section 8.1 to this Agreement and any other security document
      from time to time taken by the Lender from the Borrower as security for
      the payment, observance and performance of the Loan in whole or in
      part;

	 	 	 
	 	(w) 	
      “Taxes” means all taxes, levies, imposts, stamp
      taxes, duties, deductions, withholdings and similar governmental
      impositions payable, levied, collected, withheld or assessed as of the
      date of this Loan Agreement or at any time in the future, and “Tax”
      shall have a corresponding meaning.

	 	 	 
	 	(x) 	
      “Loan Agreement”, “Agreement”,
      “hereof”, “herein”, “hereto”, “hereunder” or
      similar expressions mean this Loan Agreement and any Schedules hereto, as
      amended, supplemented, restated and replaced from time to time.

	 	 	 
	 	(y) 	
      “$”, “US Dollars” and “USD$” mean
      lawful money of the United States.

1.2       
Headings and Table of Contents 

            
The headings of the Articles, Sections, subsections and paragraphs hereof and
the Table of Contents are inserted for convenience of reference only and shall
not affect the construction or interpretation of this Loan Agreement. 

1.3       
Accounting Terms 

            
Each accounting term used in this Loan Agreement, unless otherwise defined or
interpreted herein, has the meaning assigned to it under GAAP. 

1.4       
Number, Gender, Contractual Instruments 

            
Unless the context otherwise requires, words importing the singular number shall
include the plural and vice versa and words importing any gender include all
genders. References to Loan Agreement shall be deemed to include all present or
future amendments, supplements, restatements or replacements thereof or thereto.

ARTICLE 2
 LOAN 

2.1      
 Amount 

            
Upon and subject to the terms and conditions of this Loan Agreement, the Lender
hereby irrevocably agrees to immediately establish the Loan for the use and
benefit of the Borrower. 

2.2       
Purpose 

            
The Loan will be made available to the Borrower for the purposes set out in
Schedule “A” hereto and for no other purpose without the prior written consent
of the Lender. 

2.3       
Time and Place of Payments 

            
Unless otherwise expressly provided herein, the Borrower shall make all payments
pursuant to this Agreement or pursuant to any document, instrument or agreement
delivered pursuant hereto by delivery of a cheque or wire transfer to the Lender
before 1:00 p.m. (Saskatoon time) on the day specified for payment. Any such
payment received on the day specified for such payment but after 1:00 p.m.
(Saskatoon time) thereon shall be deemed to have been received prior to 1:00
p.m. (Saskatoon time) on the Business Day immediately following such day
specified for payment. 

2.4      
 Debt Settlement Agreement 

            
In consideration of the Lender entering into this Loan Agreement, the Borrower
has agreed to enter into the Debt Settlement Agreement. 

ARTICLE 3 
PAYMENTS, PREPAYMENTS AND INTEREST

3.1       
Evidence of Indebtedness 

            
The Obligations resulting from the Loan, including all payments of interest and
payments of principal by the Borrower, shall be evidenced by records maintained
by the Lender. The records maintained by the Lender shall constitute, in the
absence of manifest error, prima facie evidence of the Obligations and all
details relating thereto. The failure of the Lender to correctly record any such
amount or date shall not, however, adversely affect the obligation of the
Borrower to pay the Obligations in accordance with this Loan Agreement. 

3.2       
Term and Repayment 

            
The outstanding principal amount of the Loan together with all accrued and
unpaid interest and all other amounts outstanding hereunder shall become due and
payable in full on the Maturity Date unless sooner determined by the Lender due
to the occurrence of an Event of Default. 

3.3      
Voluntary Prepayments 

            
Subject to giving the Lender not less than 10 Business Days’ prior written
notice, the Borrower may from time to time prepay the Loans in whole or in part
without penalty. 

3.4        Interest

            
The outstanding daily principal balance of the Loan will bear interest at the
applicable Interest Rate until paid in full.

ARTICLE 4 
REPRESENTATIONS AND WARRANTIES 

4.1       
Representations and Warranties of the Borrower 

            
The Borrower represents and warrants to the Lender as specified below. 

	 	(a) 	
      Corporate and Securities
Matters

	 	(i) 	
      Due Incorporation, Etc. The Borrower is
      incorporated under the laws of the state of Nevada and is a corporation
      duly incorporated and organized and validly subsisting under the laws of
      the jurisdiction of its incorporation and is duly qualified, registered or
      licensed in all jurisdictions where such qualification, registration or
      licensing is required to the extent that it is material. The Borrower has
      all requisite corporate capacity, power and authority to own, hold under
      licence or lease its properties, to carry on its business as now conducted
      and as proposed to be conducted and to otherwise enter into, and carry out
      the transactions contemplated by this Loan Agreement.

	 	 	 
	 	(ii) 	
      Due Authorization. The entering into and the
      performance by the Borrower of this Loan Agreement (i) has been duly
      authorized by all necessary corporate action on its part, (ii) do not and
      will not violate its constating documents, any Applicable Law, any Permit
      or any Contract to which it is a party, and (iii) will not result in the
      creation of any Encumbrance on any of its Property, will not require it to
      create any Encumbrance on any of its Property and will not result in the
      forfeiture of any of its Property.

	 	 	 
	 	(iii) 	
      No Restrictions in Constating Documents. The
      execution, delivery and performance of this agreement and the consummation
      of the transactions contemplated herein and therein do not and will not
      conflict with, result in any breach or violation of, or constitute a
      default under, the terms, conditions or provisions of the constating
      documents or by-laws of, or any unanimous shareholder agreement or
      declaration relating to, the Borrower or of any law, regulation, judgment,
      decree or order binding on or applicable to the Borrower or by which the
      Borrower benefits or to which any of its property is subject or of any
      material agreement, lease, licence, permit or other instrument to which
      the Borrower is a party or is otherwise bound or by which the Borrower
      benefits or to which any of its property is subject and do not require the
      consent or approval of any other party or any governmental body, agency or
      authority.

	 	 	 
	 	(iv) 	
      Due Execution, Etc. The Loan Agreement have been
      or will be duly executed and delivered by it and constitute legal, valid
      and binding obligations enforceable against it in accordance with its
      respective terms, subject to the availability of equitable remedies and
      the effect of bankruptcy, insolvency and similar laws affecting the rights
      of creditors generally.

	 	(b) 	
      Ownership of Assets and Properties

	 	 	 
	 		
      The Borrower does not warrant title to its assets but
      represents and warrants that except for Permitted Encumbrances, the
      material assets of the Borrower are free and clear of any liens,
      royalties, production payments, charges, adverse claims, demands or
      encumbrances created by, through or under the
Borrower.

4.2       
Representations and Warranties of the Lender 

            
The Lender represents and warrants to the Borrower as specified below. 

	 	(a) 	
      Corporate and Securities
Matters

	 	(i) 	
      Due Incorporation, Etc. The Lender is incorporated
      under the laws of the state of Nevada and is a limited liability
      corporation duly incorporated and organized

	 		
      and validly subsisting under the laws of the jurisdiction
      of its incorporation and is duly qualified, registered or licensed in all
      jurisdictions where such qualification, registration or licensing is
      required to the extent that it is material. The Lender has all requisite
      corporate capacity, power and authority to own, hold under licence or
      lease its properties, to carry on its business as now conducted and as
      proposed to be conducted and to otherwise enter into, and carry out the
      transactions contemplated by this Loan Agreement.

	 	 	 
	 	(ii) 	
      Due Authorization. The entering into and the
      performance by the Lender of this Loan Agreement (i) has been duly
      authorized by all necessary corporate action on its part, and (ii) do not
      and will not violate its constating documents, any Applicable Law, any
      Permit or any contract to which it is a party.

	 	 	 
	 	(iii) 	
      No Restrictions in Constating Documents. The
      execution, delivery and performance of this agreement and the consummation
      of the transactions contemplated herein and therein do not and will not
      conflict with, result in any breach or violation of, or constitute a
      default under, the terms, conditions or provisions of the constating
      documents or by-laws of, or any unanimous shareholder agreement or
      declaration relating to, the Lender or of any law, regulation, judgment,
      decree or order binding on or applicable to the Lender or by which the
      Lender benefits or to which any of its property is subject or of any
      material agreement, lease, licence, permit or other instrument to which
      the Lender is a party or is otherwise bound or by which the Lender
      benefits or to which any of its property is subject and do not require the
      consent or approval of any other party or any governmental body, agency or
      authority.

	 	 	 
	 	(iv) 	
      Due Execution, Etc. The Loan Agreement have been
      or will be duly executed and delivered by it and constitute legal, valid
      and binding obligations enforceable against it in accordance with its
      respective terms, subject to the availability of equitable remedies and
      the effect of bankruptcy, insolvency and similar laws affecting the rights
      of creditors generally.

4.3       
Survival of Representations and Warranties 

            
Unless expressly stated to be made as of a specific date, the representations
and warranties made in this Loan Agreement shall survive the execution of this
Loan Agreement notwithstanding any investigation made at any time by or on
behalf of the Lender. 

ARTICLE 5 
COVENANTS 

5.1       
Affirmative Covenants 

            
The Borrower hereby covenants and agrees with the Lender that, until repayment
in full by the Borrower to the Lender of all Obligations and unless the Lender
otherwise expressly consents in writing, such consent not to be unreasonably
withheld: 

	 	(a) 	
      Prompt Payment

	 	 	 
	 		
      The Borrower shall duly and punctually pay or cause to be
      paid to the Lender all amounts payable under this Loan Agreement at the
      dates and places, in the currencies and in the manner mentioned
    herein.

	 	(b) 	
      Use of Proceeds

	 	 	 
	 		
      The Borrower shall apply all of the proceeds of the Loan
      for the purposes set out in Section 2.2 hereof.

5.2       
Restrictive Covenants 

            
During the term of this Loan Agreement, the Borrower shall not do any of the
things specified in this Section without the prior written consent of the
Lender, which shall not be unreasonably withheld. 

	 	(a) 	
      Encumbrances

	 	 	 
	 		
      The Borrower shall not create, incur or assume or suffer
      to exist or cause or permit any Encumbrance upon or in respect of any of
      its material Property, except for Permitted Encumbrances.

	 	 	 
	 	(b) 	
      Limit on Senior Debt or Further Subordinate
      Debt

	 	 	 
	 		
      The Borrower shall not, without the prior written consent
      of the Lender, incur, assume or suffer to exist any indebtedness other
      than indebtedness to unsecured trade creditors which is incurred in the
      ordinary course of business.

ARTICLE 6 
CLOSING DELIVERIES 

6.1       
Closing Deliveries 

            
On or after the Closing Date, the Borrower shall deliver to the Lender, in form
and substance satisfactory to the Lender upon request by the Lender, a
resolution of the board of directors of the Borrower authorizing the Borrower to
execute, deliver and perform its obligations under this Loan Agreement: 

6.2       
Waiver 

            
The terms and conditions of Section 6.1 are inserted for the sole benefit of the
Lender and the Lender may waive them in whole or in part, with or without terms
or conditions, in respect of any extension of credit, without prejudicing the
Lender’s right to assert them in whole or in part in respect of any other
extension of credit. 

ARTICLE 7 
DEFAULT 

7.1       
Events of Default 

            
Each of the following events shall constitute an Event of Default under this
Loan Agreement: 

	 	(a) 	
      the Borrower fails to pay any amount of principal when
      due; or

	 	 	 
	 	(b) 	
      the Borrower fails to pay any amount of interest when due
      or, to pay fees within five (5) Business Days of when due;
  or

	 	(c) 	
      the Borrower ceases or threatens to cease to carry on its
      business, except as expressly permitted in this Loan Agreement, or admits
      its inability or fails to pay its debts generally; or

	 	 	 
	 	(d) 	
      the Borrower becomes a bankrupt (voluntarily or
      involuntarily); or becomes subject to any proceeding seeking liquidation,
      arrangement, relief of creditors or the appointment of a receiver or
      trustee over, or any judgment or order which has or might have a Material
      Adverse Effect, and such proceeding, if instituted against the Borrower,
      or such judgment or order, is not contested diligently, in good faith and
      on a timely basis and dismissed or stayed within 30 days of its
      commencement or issuance; or

	 	 	 
	 	(e) 	
      if any representation or warranty made by the Borrower in
      this agreement or in any other document, agreement or instrument delivered
      pursuant hereto or referred to herein or any information furnished in
      writing to the Lender by the Borrower proves to have been incorrect in any
      material respect when made or furnished, and such Event of Default, to the
      extent curable, has not been cured within ten (10) Business Days after
      written notice to do so has been given by the Lender to the Borrower;
      or

	 	 	 
	 	(f) 	
      the breach or failure of due observance or performance by
      the Borrower of any covenant or provision of this Loan Agreement, other
      than those heretofore dealt with in this Section 7.1 or of any other
      document, agreement or instrument delivered pursuant hereto or referred to
      herein which is not remedied by the Borrower within ten (10) Business Days
      after written notice to do so has been given by the Lender to the
      Borrower, unless permitted to do so by the Lender.

7.2       
Acceleration and Termination of Rights 

            
If any Event of Default occurs, the Lender may give notice to the Borrower
declaring the Obligations or any of them to be forthwith due and payable,
whereupon they shall become and be forthwith due and payable without
presentment, demand, protest or further notice of any kind, all of which are
hereby expressly waived by the Borrower. 

7.3       
Remedies 

            
Upon the occurrence of any event by which any of the Obligations become due and
payable under Section 7.2, the Lender may take such action or proceedings on
behalf of the Lender and in compliance with Applicable Law as the Lender in its
sole discretion deems expedient to enforce the same, all without any additional
notice, presentment, demand, protest or other formality, all of which are hereby
expressly waived by the Borrower. 

7.4       
Remedies Cumulative 

            
The rights and remedies of the Lender under the Loan Agreement are in addition
to and not in substitution for any rights or remedies provided by law. Any
single or partial exercise by the Lender of any right or remedy for a default or
breach of any term, covenant, condition of the Loan Agreement herein contained
shall not be deemed to be a waiver of or to alter, affect, or prejudice any
other right or remedy or other rights or remedies to which the Lender may be
lawfully entitled for the same default or breach. Any waiver by the Lender of
the strict observance, performance or compliance with any term, covenant,
condition or Loan Agreement herein contained, and any indulgence granted by the
Lender shall be deemed not to be a waiver of any subsequent default. 

ARTICLE 8 
SECURITY 

8.1                   
As security for payment, observance and performance of the Borrower’s
Obligations, the Borrower agrees to execute and deliver (and cause each Other
Obligant to execute and deliver), inter alia, such security as the Lender
may reasonably require from time to time (collectively, the “Security
Documents”) in a form and manner satisfactory to the Lender and the Lender’s
solicitors. Each Security Document is given as additional, concurrent and
collateral security to the remainder of the Security Documents and will not
operate to merge novate or discharge the Borrower’s Indebtedness or any of the
other Security Documents. The execution and delivery of each Security Document
will not in any way suspend or affect the present or future rights and remedies
of the Lender in respect of the Borrower’s Indebtedness, or the other Security
Documents. No action or judgment taken by the Lender in respect of any of the
Security Documents or with respect to the Borrower’s Indebtedness will affect
the liability of the Borrower hereunder and nothing but the actual payment in
full by the Borrower to the Lender of the Borrower’s Indebtedness will discharge
the Borrower or any of the Security Documents. 

ARTICLE 9 
CONDITIONS PRECEDENT TO EACH ADVANCE
UNDER THE LOAN 

9.1                   
The Lender’s obligation to make any Advance is subject to the following
conditions precedent having been met to the Lender’s sole satisfaction or waived
by the Lender in writing at the time of that Advance, namely: 

	 	(a) 	
      the Lender having received a properly executed original
      of this Loan Agreement and any Security Documents then in
effect;

	 	 	 
	 	(b) 	
      the Borrower’s representations and warranties contained
      herein and in the Security Documents then in effect then being true and
      correct in all material respects;

	 	 	 
	 	(c) 	
      the Borrower having entered into the Debt Settlement
      Agreement with the Lender in substantially the form attached hereto as
      Schedule “B”;

	 	 	 
	 	(d) 	
      there then being no outstanding Default or Event of
      Default and no outstanding condition, event or act which with or without
      the giving of notice could become an Event of Default; and

	 	 	 
	 	(e) 	
      there then being no outstanding condition, event or act
      which has had or would reasonably be expected to have a Material Adverse
      Effect.

ARTICLE 10 
MISCELLANEOUS PROVISIONS 

10.1     Amendment,
Supplement or Waiver 

            
Any amendment or supplement to this Loan Agreement shall require the written
consent of the other parties. No waiver or act or omission of the Borrower or
the Lender, or any of them, shall extend to or be taken in any manner whatsoever
to affect any subsequent Event of Default or breach by a party of any provision
of this Loan Agreement or the rights resulting thereof. 

10.2     Governing Law

            
The Loan Agreement shall be conclusively deemed to be a contract made under, and
shall for all purposes be governed by and construed in accordance with, the laws
of the Province of Saskatchewan. Each party to this Loan Agreement hereby
irrevocably and unconditionally attorns and submits to the non-exclusive
jurisdiction of the courts of Saskatchewan and all courts competent to hear
appeals therefrom. 

10.3     Address for
Notice 

            
Unless otherwise provided in this Loan Agreement, all notices, consents,
acknowledgements, directions, resolutions, waivers and other communications
required or permitted to be given under this Loan Agreement shall be in writing
and shall be sent by overnight courier service, facsimile or other means of
electronic mail transfer, or personal delivery, addressed to the party for whom
it is intended as follows: 

	 	(a) 	
      if to the Borrower:

Maverick Minerals Corporation 
2501
Lansdowne Ave 
Saskatoon, Saskatchewan 
S7J 1H3

Attention: R. Kinloch 
Facsimile
No.: (306) 343-0888 

with a copy to: 

Clark Wilson LLP 
800 – 855 West
Georgia Street 
Vancouver, British Columbia 
V6C 3H1 

Attention: Conrad Y. Nest

Facsimile No.: (604) 687 6314 

	 	(b) 	
      if to the Lender:

SENERGY PARTNERS LLC. 
2245
N. Green Valley Pkwy, Ste. 429 
Henderson, Nevada 89014 

Attention: Donna Rose 
Facsimile
No.: (208) 330-7137 

with a copy to: 

DAVID P. STEINER 
David
Steiner & Associates PLC 
1925 Century Park E Ste 2350 
Los Angeles,
CA 90067-2737 

Attention: David Steiner 
Facsimile
No.: (310) 556-0336 

or such other address most recently specified by such party by
notice given in accordance with this Section 10.3 to the party hereto giving the
notice or written communication. Any notice, demand or communication pursuant to
or relating to this Loan Agreement shall be conclusively deemed to be given and
received, if delivered, on the day on which it is delivered to the address of
the party to be notified or, if given by facsimile or other similar form of
telecommunication, on the next Business Day following such transmission. 

10.4     Time of the
Essence 

            
Time shall be of the essence of this Loan Agreement. 

10.5     Further
Assurances 

            
The parties hereto shall do all such further acts and execute and deliver all
such further documents as may be necessary or desirable in order to fully
perform and carry out the purpose and intent of the Loan Agreement. 

10.6     Counterparts and
Facsimile 

            
This Loan Agreement may be executed in any number of counterparts, each of which
when executed and delivered shall be deemed to be an original, and such
counterparts together shall constitute one and the same Loan Agreement. For the
purposes of this Section, the delivery of a facsimile copy of an executed
counterpart of this Loan Agreement shall be deemed to be valid execution and
delivery of this Loan Agreement. 

10.7     Entire Loan
Agreement 

            
This Loan Agreement constitutes the entire Loan Agreement between the parties
hereto concerning the matters addressed in this Loan Agreement, and cancel and
supersede any prior agreements, undertakings, declarations or representations,
written or verbal, in respect thereof. 

10.8     Independent Legal
Advice 

            
The parties hereto each represent, warrant and agree that each has received
independent legal advice from their respective attorneys with respect to the
terms of the Loan Agreement and with respect to the advisability of entering
into this Loan Agreement.

10.9      Successors

    
        This Loan Agreement and any other
document referred to herein or therein shall be binding upon and inure to the
benefit of and be enforceable by Lender, Borrower and their respective
successors and assigns, except that Borrower may not assign its rights under
this Loan Agreement and any other document referred to herein or therein without
the prior written consent of Lender. Lender may, after notice to Borrower,
assign its rights and delegate its obligations under this Loan Agreement and
further may assign, or sell participations in, all or any part of the Loan or
any other interest herein to another person, in which event, the assignee or
participant shall have, to the extent of such assignment or participation, the
same rights and benefits as it would have if it were the Lender hereunder,
except as otherwise provided by the terms of such assignment or participation.

            
WITNESS OF WHICH, the parties have executed this Loan Agreement
as at the day first written above. 

	 	MAVERICK MINERALS CORPORATION 
	 	 	 
	 	 	 
	 	By:	/s/
      Robert Kinloch 
	 	 	Authorized Signatory 
	 	 	 
	 	 	 
	 	SENERGY PARTNERS LLC 
	 	 	 
	 	 	 
	 	By:	/s/
      Donna Rose 
	 	 	Authorized Signatory 

SCHEDULE A 

Plan of Operation 

Maverick Minerals Corporation (the “Company”) plans to continue
to evaluate joint venture opportunities and oil and gas development and
production prospects in West Texas and North West Texas and Saskatchewan. The
Company expects to continue its evaluation of joint venture production and
development opportunities in North West Texas.

Based on the Company’s plan of operation outlined above, the
Company intends to use proceeds of the Loan for the following expenses during
the term of the Loan: 

Loan Purposes 

	General, Administrative and Corporate
      Expenses 
	Consulting and Due Diligence, Texas and Saskatchewan 
	Professional Fees 
	Joint Venture Programs 

SCHEDULE B 

Debt Settlement and Subscription AgreementExhibit 10.34

 

EMPLOYMENT
AGREEMENT

 

THIS EMPLOYMENT AGREEMENT
(the “Agreement”) is made by and between World Heart Corporation with offices at 4750 Wiley Post Way, Suite 120,
Salt Lake City, Utah  84116 (the “Company”),
and Jal S. Jassawalla (“Executive”).

 

The parties hereto agree
as follows:

 

1.             Amendment
and Restatement of Offer Letter. 
The offer letter between the Company and
Executive dated June 23, 2000, and amended as of October 28, 2004 and
December 29, 2008, is hereby amended, restated and superseded as set forth
herein as of February 4, 2009.

 

2.             Term of Employment.  This Agreement will be effective as of February 4,
2009 (the “Effective Date”).  At any time during the term of this
Agreement, either party may terminate this Agreement and Executive’s employment
in accordance with the provisions of Section 7 of this Agreement.

 

3.             Position and Duties.

 

(a)           General. 
Effective as of February 4, 2009, Executive will serve as Executive
Vice President and Chief Technology Officer of the Company.  In such capacity Executive will report to and
be subject to the direction and control of the President and Chief Executive
Officer of the Company (the “CEO”). 
Executive will render such business and professional services in the
performance of his duties, consistent with his position within the Company, as
will reasonably be assigned to Executive by the CEO, and perform his services
on a full-time basis, except as set forth in Section 3(c) below, at
the Company’s offices in Oakland, California. 
Except as set forth in Section 3(c) below, Executive will
devote substantially all of his full working time and attention to the business
affairs of the Company, provided that he may serve on boards of directors of
other companies or in any other capacity with civic, educational, or charitable
organizations upon consent from the Board, which will not be unreasonably
withheld.  Executive will comply with and
be bound by the Company’s operating policies, procedures and practices from
time to time in effect during the term of this Agreement.

 

(b)           Transition Period. 
During the one year transition period from February 4, 2009  through February 3, 2010 (the “Transition
Period”), in addition to serving as Executive Vice President and Chief
Technology Officer, Executive will provide transition briefing and assistance
as requested by the CEO.

 

(c)           Reduced Time Commitment. 
After the Transition Period, Executive shall have the option to reduce
his time commitment from full time to a lesser amount, but in any event no less
than 50% time, should he find it necessary to do so.  In the event that Executive elects to reduce
his time commitment, the Company shall have the 

 

1

 

ability to reduce Executive’s Base Salary and Bonus
and to adjust the vesting schedule of Executive’s outstanding option grants by
the same percentage as Executive has reduced his time commitment.

 

4.             Salary, Bonus and Benefits.

 

(a)           Salary. 
Commencing February 4, 2009, the Company will pay Executive an
annual base salary of $287,400 (the “Base Salary”).  Executive will receive an increase in
Executive’s 2009 Base Salary at the same time and in the same percentage range
as the other senior executives of the Company.

 

(b)           Bonus. 
Executive will be eligible for a target annual bonus of up to 25% of his
annual base salary (the “Bonus”) awarded in the discretion of the Board
as exercised in accordance with the incentive compensation practices and plans
of the Compensation Committee and the Board from year to year.  To earn a Bonus Executive must be employed as
of the date of the Board’s determination of the Bonus payment, if any, payable
to Executive for a particular year.  Any
Bonus earned will be paid on or before March 15 of the year following the
year in which the Bonus is earned.

 

(c)           Stock Options.

 

(i)            Initial Grant.  In connection
with the execution of this Agreement, the Company will recommend that the Board
grant Executive a stock option (the “Initial Option”) to purchase
265,079 common shares of the Company (representing approximately 2% the Company’s
total issued and outstanding shares  as of the date
of grant of the Initial Option).  The
Initial Option will vest and become exercisable, contingent on Executive’s
continued employment with the Company, on each respective vesting date, at the rate of 25% of the
shares, or 66,269 common shares, on the twelve (12) month anniversary of the
Effective Date, and the remaining shares will vest monthly thereafter at the
rate of 1/48 of the total number of shares underlying the Initial Option, or
approximately 5,522 common shares.

 

(ii)           Performance Options. 
On each of the first and second anniversaries of the Effective Date and
conditioned upon Executive’s continued employment with the Company and
achievement of certain performance-based metrics to be reasonably agreed upon
between Executive and the Board, the Company will grant Executive a stock
option to purchase that number of common shares of the Company representing
0.5% of the Company’s total issued and outstanding shares as of each such grant
date (each a “Performance Option”). 
Each Performance Option will vest and become exercisable, contingent on
Executive’s continued employment with the Company on each respective vesting date, at the rate of
1/48 of the total number of shares underlying such Performance Option each
month.  Each of these grants is
conditioned on Executive’s being a full time employee of the Company at the
time of the grant.

 

2

 

(iii)          Other Option Terms.  Both the
Initial Option and the Performance Options (collectively, the “Options”)
will be subject to the terms and conditions specified in this Section 4(c)(iii).  The Options will be granted with a
per share exercise price equal to the closing sales price of a common share of
the Company as reported on the NASDAQ Stock Market on the trading day prior to
the applicable date of grant. The Options will have ten year terms unless they
expire earlier in connection with a change of control of the Company or
Executive’s termination of service to the Company.  The Options will be granted under the Company’s
2006 Equity Incentive Plan, as may be amended from time to time (the “Stock
Plan”), and will be subject to the further terms and conditions of the
Stock Plan and the stock option agreements to be entered into between Executive
and the Company. The Options will be intended to qualify as “incentive stock
options” within the meaning of Section 422 of the Internal Revenue Code of
1986, as amended (the “Code”), to the maximum extent possible within the
limitations of the Code.

 

(iv)          Other Options. 
Any unvested stock options outstanding as of the Effective Date will
continue to vest during Executive’s employment pursuant to their existing
terms.  The Options described above will
not preclude the Board from considering other routine annual stock option
grants in 2010 and 2011.

 

(d)           Change in Control and
Other Termination Benefits.  The Board is
currently evaluating the advisability of adopting a program for its senior
executives governing terminations of employment in connection with a change of
control of the Company and in connection with other termination scenarios.  In the event that the Company adopts such a
program, Executive will be eligible to receive termination-related and other
benefits under such a program to the same extent as the Company’s other senior
executives.

 

(e)           Other Benefits. 
During Executive’s employment by the Company, Executive will be eligible
to participate in any medical insurance plans, 401(k) plans, deferred
compensation plans, life insurance plans, vacation,  or
other benefit plans which are generally available to the Company’s Executive
Vice Presidents or if there are no other Executive Vice Presidents, then to the
Company’s Senior Vice Presidents, pursuant to the terms and conditions of such
plans. The Company will be under no obligation to institute or continue the
existence of any such benefit plan and may from time to time amend, modify or
terminate any such benefit plan.

 

5.             Expense Reimbursement.  Executive will be entitled to timely
reimbursement for all ordinary and reasonable out-of-pocket business expenses
which are incurred by Executive in furtherance of the Company’s business and in
accordance with the Company’s standard policies.

 

6.             Indemnification.  The Company agrees to indemnify Executive and
hold him harmless to the fullest extent permitted by applicable law and under
the bylaws of the Company against and in respect to any and all actions, suits,
proceedings, claims, demands,

 

3

 

judgments, costs, expenses
(including reasonable attorneys’ fees), losses and damages resulting from
Executive’s good-faith performance of his duties and obligations to the
Company.  The Company will cover Executive
under directors and officers liability insurance both during and, while
potential liability exists (but in any case not for more than six  years), after the term of this Agreement in the same amount
and on the same terms as the Company covers its other active officers and
directors, if such coverage is obtainable, but in all events such coverage will
be at least in substantially the same amount and on substantially the same
terms as the Company covers its other active officers and directors.

 

7.             Termination and Severance.

 

(a)           General. 
Executive’s employment with the Company will at all times be “at will,”
which means that either Executive or the Company may terminate Executive’s
employment at any time, for any or no reason, subject only to the specific
provisions of this Agreement and any programs adopted under Section 4(d) of
this Agreement.  This Agreement will
constitute the full and complete agreement between Executive and the Company on
the “at will” nature of Executive’s employment, which may only be changed in an
express written agreement signed by Executive and a duly authorized officer of
the Company. Executive may terminate his employment hereunder with or without
Good Reason (as defined below) upon written notice to the Company.  If Executive contends that Good Reason exists
for his termination, such notice will be subject to Section 7(e) below.  The Company may terminate Executive’s
employment hereunder, subject to the terms of this Agreement, with or without
Cause (as defined in the Stock Plan) upon written notice to Executive.  If this Agreement is terminated, all
compensation and benefits other than severance benefits described in Section 7(b) through
7(d) below, to the extent applicable, will immediately cease, except that (i) Executive
will be entitled, through the date of termination, to payment of his salary and
benefits under Company benefit programs and plans in accordance with their
terms and (ii) Executive’s vested stock options shall remain exercisable
in accordance with the terms of the applicable stock option agreements.

 

(b)           Termination during
Transition Period.  In the event the Company
terminates Executive’s employment without Cause during the Transition Period
and such termination constitutes a “separation from service” within the meaning
of Treasury Regulation Section 1.409A-1(h) (a “Separation from
Service”), the Company will pay Executive a lump sum severance payment
equal to two years of Executive’s Base Salary, as then in effect, subject to
Executive’s execution of a general release of claims in a form substantially
similar to the form attached hereto as Exhibit A
(the “Release”), as set forth in Section 7(g) below.

 

(c)           Termination during Year 2. 
In the event the Company terminates Executive’s employment without Cause
or Executive resigns from his employment with the Company for Good Reason on or
after February 4, 2010 and prior to February 4, 2011 (“Year 2”)
and such termination or resignation constitutes a Separation from Service, the
Company will pay Executive a lump sum severance payment equal to 

 

4

 

24 months of Executive’s Base Salary, as then in
effect, minus one month of Executive’s Base Salary, as then in effect, for each
complete month of service worked during Year 2, subject to execution of a
Release, as set forth in Section 7(g) below.  In addition, any Company stock options held
by Executive that are vested on the date of Executive’s termination or
resignation will be exercisable for up to twelve months after such termination
or resignation; provided that such extended exercise period may be modified by
the terms of the definitive agreement for a change of control of the Company.

 

(d)           Termination after Year 2. 
In the event the Company terminates Executive’s employment without Cause
or Executive resigns from his employment with the Company for Good Reason on or
after February 4, 2011, and such termination or resignation constitutes a
Separation from Service, the Company will pay Executive a lump sum severance
payment equal to the highest level of severance to which any other Executive
Vice President or Senior Vice President of the Company is entitled pursuant to
a written agreement with, or written plan or policy affecting, such executive,
but in no event will Executive’s severance payment equal less than six months
of Executive’s Base Salary, as then in effect, subject to execution of a
Release, as set forth in Section 7(g) below.  In addition, any Company stock options held
by Executive that are vested on the date of Executive’s termination or
resignation will be exercisable for up to twelve months after such termination
or resignation; provided that such extended exercise period may be modified by
the terms of the definitive agreement for a change of control of the Company.

 

(e)           Good Reason. 
For purposes of this Agreement, “Good Reason” will consist of any
one of the following:  (i) a
material diminution of Executive’s authority or responsibilities as Executive
Vice President/Chief Technology Officer; (ii) other than as set forth in Section 3(c) of
this Agreement, a material decrease of Executive’s compensation or benefits,
unless the decrease is proportional to an across-the-board decrease affecting
all senior executives; (iii) a material breach by the Company of any material
provision of this Agreement; or (iv) an involuntary relocation of
Executive’s principal work location for the Company outside of the San
Francisco Bay Area.  Before any
resignation for Good Reason, Executive will provide the Company with specific written
notice about the circumstances allegedly constituting Good Reason within 90
days after the occurrence of the circumstances, and the Company will have 30
days to cure, if such conduct is reasonably susceptible to being cured.  A resignation for Good Reason must take place
within 60 days after the end of the cure period.

 

(f)            Termination due to Death
or Disability.  In the event Executive’s employment with the
Company terminates due to death or Disability (as defined in the Plan), the
Plan will govern Executive’s outstanding stock options, provided that Executive’s
vested options will be exercisable for up to twelve months after such
termination event, as permitted by the Plan.

 

5

 

(g)           Release of Claims.  The Company’s obligation to make the payments
and provide the benefits under Sections 7(b) through (d) will be
conditioned upon (i) Executive’s execution of a Release within 70 days
following Executive’s Separation from Service and (ii) Executive’s not revoking
such release within any period permitted under applicable law. 
In no event will severance benefits be provided to Executive unless and
until the Release becomes effective.  Any
lump sum payment owed to Executive will be paid within 30 days following the
effective date of the Release, but in no event later than March 15 of the
year following the year in which the Separation from Service occurs.

 

8.             Section 409A of the Internal Revenue
Code and Specified Employees.   Notwithstanding any provision to the
contrary in this Agreement, if Executive is deemed by the Company at the time
of his Separation from Service to be a “specified employee” for purposes of Section 409A(a)(2)(B)(i) of
the Code, to the extent delayed commencement of any portion of the benefits to
which Executive is entitled under this Agreement is required in order to avoid
a prohibited distribution under Section 409A(a)(2)(B)(i) of the Code,
such portion of Executive’s benefits will not be provided to Executive prior to
the earlier of (i) the expiration of the six-month period measured from
the date of the Executive’s Separation from Service or (ii) the date of
Executive’s death.  Upon the first
business day following the expiration of the applicable Code Section 409A(a)(2)(B)(i) period,
all payments deferred pursuant to this Section 8 will be paid in a lump
sum to Executive (or Executive’s estate or beneficiaries), and any remaining
payments due under the Agreement will be paid as otherwise provided
herein.  For purposes of Section 409A
of the Code, Executive’s right to receive the payments of compensation pursuant
to the Agreement will be treated as a right to receive a series of separate
payments and accordingly, each payment will at all times be considered a
separate and distinct payment.

 

9.             Miscellaneous.

 

(a)           Legal Fees. 
The Company will reimburse Executive’s reasonable and documented legal
fees incurred in connection with review of this Agreement and the related term
sheet, up to a maximum of $2,000.  Any
such reimbursement will be paid to Executive within 60 days of delivery to the
Company of the appropriate documentation, provided Executive must deliver such
documentation to the Company no later than January 10, 2010.  The right to reimbursement shall not be
subject to liquidation or exchange for another benefit.

 

(b)           Tax Matters. 
Executive agrees that Executive is responsible for any
applicable taxes of any nature (including any penalties or interest that may
apply to such taxes) that the Company reasonably determines apply to any payment
or equity award made to Executive hereunder (or any arrangement contemplated
hereunder), that Executive’s receipt of any benefit hereunder is conditioned on
Executive’s satisfaction of any applicable withholding or similar obligations
that apply to such benefit, and that any cash payment owed to Executive
hereunder will be reduced to satisfy any such withholding or similar
obligations that may apply thereto.

 

6

 

(c)           Severability. 
If one or more provisions of this Agreement are held to be unenforceable
under applicable law, the parties agree to renegotiate such provision in good
faith.  In the event that the parties
cannot reach a mutually agreeable and enforceable replacement for such
provision, then (i) such provision shall be excluded from this Agreement, (ii) the
balance of this Agreement shall be interpreted as if such provision were so
excluded and (iii) the balance of this Agreement shall be enforceable in
accordance with its terms.

 

(d)           Counterparts.  This Agreement may be executed in
counterparts, each of which shall be deemed an original, but all of which
together will constitute one and the same instrument.

 

(e)           Advice of Counsel.  Each party to this Agreement
acknowledges that, in executing this Agreement, such party has had the
opportunity to seek the advice of independent legal counsel, and has read and
understood all of the terms and provisions of this Agreement.  This Agreement shall not be construed against
any party by reason of the drafting of preparation hereof.

 

(f)            Dispute
Resolution.  To ensure
the rapid and economical resolution of any and all disputes that arise in
connection with this Agreement or Executive’s employment with the Company,
Executive and the Company agree that any and all disputes, claims, or causes of
action, in law or equity, arising from or relating to the enforcement or
interpretation of this Agreement, Executive’s employment or the termination of
Executive’s employment (collectively, “Claims”), will be resolved to the
fullest extent permitted by law exclusively by final, binding, and confidential
arbitration in San Francisco, California, conducted by the American Arbitration
Association (“AAA”) or its successors, under the then applicable AAA rules by
a single arbitrator.  Claims subject to
this arbitration provision will (i) include, but not be limited to, Claims
pursuant to any federal, state or local law or statute, including (without
limitation) the Age Discrimination in Employment Act, as amended; Title VII of
the Civil Rights Act of 1964, as amended; the Americans With Disabilities Act
of 1990; the federal Fair Labor Standards Act; and state anti-discrimination
statutes; and Claims pursuant to any common law, tort law or contract law,
including (without limitation) breach of contract or other promise,
discrimination, harassment, retaliation, wrongful discharge, fraud,
misrepresentation, defamation, and emotional distress; and (ii) exclude
Claims that by law are not subject to arbitration.  The arbitrator will:  (1) have the authority to compel
adequate discovery for the resolution of all Claims and to award such relief as
would otherwise be permitted by law; and (2) issue a written arbitration
decision including the arbitrator’s essential findings and conclusions and a
statement of the award.  The Company will
pay all of the arbitrator’s fees. 
Executive and the Company acknowledge that, by agreeing to this
arbitration procedure, both Executive and the Company waive the right to
resolve any Claims through a trial by jury or judge or by administrative
proceeding.  Nothing in this Agreement is
intended to prevent Executive or the Company from obtaining injunctive relief
in court if the award to which such party might obtain in arbitration may be
rendered ineffectual without provisional relief.  As provided 

 

7

 

in the AAA rules, any
arbitration award may be enforced by any court of competent jurisdiction.

 

(g)           Governing Law. 
This Agreement will be construed and enforced in accordance with and be
governed by the laws of the State of California.

 

(h)           Entire Agreement. 
This Agreement, the Proprietary Rights Agreement, the Amended and
Restated Code of Conduct and the Insider Trading Policy that Executive has
previously entered into with the Company and all outstanding equity award
agreements issued to Executive set forth the entire agreement and understanding
between the Executive and the Company on the subject matter hereof, and
supersede any other negotiations, agreements, understandings, oral agreements,
representations and past or future practices, whether written or oral, on the
subject matter hereof.  No provision of
this Agreement may be amended, supplemented, modified, cancelled, or discharged
unless such amendment, supplement, modification, cancellation or discharge is
agreed to, in writing, signed by Executive and a duly authorized officer of the
Company (other than Executive); and no provisions hereof may be waived, except
in writing, so signed by or on behalf of the party granting such waiver.

 

(i)            Validity. 
The invalidity or unenforceability of any provision or provisions of
this Agreement will not affect the validity or enforceability of any other
provision of this Agreement, which will remain in full force and effect.

 

(j)            Notices. 
For the purposes of this Agreement, notices, demands and all other
communications provided for in this Agreement will be in writing and will be
deemed to have duly given when personally delivered or mailed by United States
certified or registered mail, return receipt requested, postage prepaid,
addressed as follows:

 

If to the Executive:

 

Jal
S. Jassawalla

34
East Altarinda Drive

Orinda,
CA 94563

 

If to the Company:

 

Chief Executive Officer

World Heart Corporation

4750 Wiley Post Way, Suite 120

Salt Lake City, Utah 
84116

 

(k)           Successors. 
The Company will require any successor (whether direct or indirect, by
purchase, merger, consolidation or otherwise) to all or substantially all the
business and/or assets of the Company, by agreement in form and substance
satisfactory to Executive, expressly to assume and agree to perform this
Agreement in the same manner and to the same extent that the Company would be 

 

8

 

required to perform it if no such succession had taken
place.  This Agreement and all rights
under the Agreement will be binding upon and will inure to the benefit of and
be enforceable by the party’s personal or legal representatives, executors,
administrators, heirs, and successors.

 

In witness whereof, the
parties have executed this Agreement as of the Effective Date.

 

	
  Executive:

  	
   

  	
  World Heart
  Corporation:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  /s/ Jal S.
  Jassawalla

  	
   

  	
  By 

  	
  /s/ Michael
  Sumner Estes

  
	
  Jal S.
  Jassawalla

  	
   

  	
   

  	
  Michael Sumner
  Estes

  
	
   

  	
   

  	
   

  	
  Chairman, on
  behalf of the Board of Directors

  

 

9

 

Exhibit A

 

Form of Release Agreement

 

10

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