Document:

BTU_8K 2012.11.19_EXH10.2

Exhibit 10.2

AMENDMENT NO. 1 TO CREDIT AGREEMENT

Dated as of November 16, 2012
This AMENDMENT NO. 1 TO CREDIT AGREEMENT (this “Amendment No. 1”) is made by and among PEABODY ENERGY CORPORATION, a Delaware corporation (the “Borrower”), the Lenders (as defined below) and BANK OF AMERICA, N.A., as Administrative Agent (the “Administrative Agent”).
PRELIMINARY STATEMENTS:
1.    The Borrower, each lender from time to time party thereto (collectively, the “Lenders” and individually, a “Lender”) and the Administrative Agent have entered into that certain Credit Agreement, dated as of October 28, 2011 (the “Credit Agreement”); capitalized terms used and not otherwise defined herein have the meanings assigned to such terms in the Credit Agreement.
2.    The Borrower has requested that the Lenders amend the Credit Agreement to, among other things, modify certain financial covenants. 
3.    Subject to the terms and conditions set forth below, and in consideration of certain agreements of the Borrower set forth herein and of the Loan Parties in the accompanying Consent, the requisite Lenders are willing to agree to this Amendment No. 1.
NOW, THEREFORE, in consideration of the premises and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:
SECTION 1Amendments to the Credit Agreement.  Upon the satisfaction of the applicable conditions precedent set forth in Section 2, the Credit Agreement is hereby amended as follows:
(a)The definition of  “Applicable Rate” in Section 1.01 is hereby amended and restated in its entirety as follows:
“Applicable Rate” means, from time to time, the following percentages per annum, based upon the Consolidated Leverage Ratio (as of the most recent Adjustment Date) as set forth below:

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	Applicable Rate

	Level
	Consolidated Leverage Ratio
	Eurocurrency Rate Loans
	Base Rate Loans

	I
	> 4.50x
	3.500%
	2.500%

	II
	> 3.50x
	3.000%
	2.000%

	III
	> 3.00x
	2.750%
	1.750%

	IV
	> 2.50x
	2.500%
	1.500%

	V
	> 2.00x
	2.250%
	1.250%

	VI
	> 1.50x
	2.000%
	1.000%

	VII
	< 1.50x
	1.750%
	0.750%

provided that (a) the Applicable Rate determined for any Adjustment Date (including the first Adjustment Date) shall remain in effect until a subsequent Adjustment Date for which the Consolidated Leverage Ratio falls within a different level and (b) if the financial statements and related Compliance Certificate for any fiscal period are not delivered by the date due pursuant to Sections 6.01 and 6.02, the Applicable Rate shall be (i) for the first 35 days subsequent to such due date, the Applicable Rate in effect prior to such due date and (ii) thereafter, as set forth in Level I, in either case, until the date of delivery of such financial statements and Compliance Certificate, after which the Applicable Rate shall be based on the Consolidated Leverage Ratio set forth in such Compliance Certificate.
(b)Section 7.11(b) is hereby amended and restated in its entirety as follows: 
(b)    Consolidated Leverage Ratio.   Permit the Consolidated Leverage Ratio as of the end of each fiscal quarter of the Borrower to be greater than the ratio set forth opposite that quarter in the table below:
	
		
	Fiscal Quarter Ending
	Consolidated Leverage Ratio

	September 30, 2012
	4.00 to 1.00

	December 31, 2012
	4.00 to 1.00

	March 31, 2013
	5.00 to 1.00

	June 30, 2013
	5.50 to 1.00

	September 30, 2013
	5.50 to 1.00

	December 31, 2013
	5.50 to 1.00

	March 31, 2014
	5.50 to 1.00

	June 30, 2014
	5.00 to 1.00

	September 30, 2014
	5.00 to 1.00

	December 31, 2014
	4.50 to 1.00

	March 31, 2015 and each fiscal quarter thereafter
	4.00 to 1.00

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SECTION 2Conditions to Effectiveness of Amendment.  The effectiveness of the amendments contained in Section 1 of this Amendment No. 1 is conditioned upon satisfaction of the following conditions precedent:
(a)The Administrative Agent shall have (i) received counterparts of this Amendment No. 1 signed by the Borrower and the Required Lenders and counterparts of the Consent of Loan Parties attached hereto (the “Consent”) signed by the Loan Parties party thereto and (ii) acknowledged this Amendment No. 1 in writing; 
(b)Each of the representations and warranties in Section 3 below shall be true and correct in all material respects as of the date on which this Amendment No. 1 becomes effective, except to the extent that such representations and warranties specifically refer to an earlier date, in which case they shall be true and correct in all material respects as of such earlier date; and
(c)The Administrative Agent shall have received from the Borrower a consent fee payable in Dollars for the account of each Lender that has returned an executed signature page to this Amendment to the Administrative Agent at or prior to 5:00 p.m., New York City time on November 15, 2012 (the “Consent Deadline” and each such Lender, a “Consenting Lender”) equal to 0.20% of the aggregate outstanding principal amount of Loans, if any, held by such Consenting Lender as of the Consent Deadline with respect to which a consent was delivered.
SECTION 3Representations and Warranties.  The Borrower represents and warrants to the Administrative Agent and the Lenders as follows:
(a)Authority.  The Borrower and each of the Loan Parties party to the Consent has the requisite corporate, limited liability or other such power and authority to execute and deliver this Amendment No. 1 and the Consent, as applicable, and to perform its obligations hereunder and under the Loan Documents (as modified hereby).  The execution, delivery and performance by the Borrower and each other Loan Party party to the Consent of this Amendment No. 1 (as applicable), the Consent (as applicable), the Loan Documents (as modified hereby) and the transactions contemplated hereby and thereby have been duly approved by all necessary corporate action of such Person and no other corporate proceedings on the part of such Person are necessary to consummate such transactions.
(b)No Legal Bar.  The execution and delivery of this Amendment No. 1 by the Borrower and of the Consent by each Loan Party party thereto, and the performance of the Credit Agreement and each other Loan Document, as amended hereby, by the Borrower and each other Loan Party party thereto will not violate any Requirement of Law or any Contractual Obligation applicable to or binding on the Borrower, any Restricted Subsidiary or any of their respective properties or assets, except to the extent that such violation could not reasonably be expected to have a Material Adverse Effect.
(c)Enforceability.  This Amendment No. 1 has been duly executed and delivered by the Borrower.  The Consent has been duly executed and delivered by each Loan Party party thereto.  This Amendment No. 1 and the Consent is the legal, valid and binding obligation of each such Loan Party party thereto, enforceable against each Loan Party that is party thereto in accordance with its terms, subject to applicable bankruptcy, insolvency, fraudulent conveyance, 

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reorganization, moratorium and other Laws relating to or affecting creditors' rights generally, general principles of equity, regardless of whether considered in a proceeding in equity or at law and an implied covenant of good faith and fair dealing.  
(d)Representations and Warranties.  The representations and warranties contained in each Loan Document (other than any such representations and warranties that, by their terms, are specifically made as of a date other than the date hereof) are true and correct in all material respects on and as of the date hereof as though made on and as of the date hereof.
(e)No Default.  Both immediately before and after giving effect to the amendments set forth in Section 1 hereof no event has occurred and is continuing that constitutes a Default or Event of Default.
SECTION 4Reference to and Effect on Credit Agreement.
(a)Upon and after the effectiveness of this Amendment No. 1, each reference in the Credit Agreement to “this Agreement”, “hereunder”, “hereof” or words of like import referring to the Credit Agreement, and each reference in the other Loan Documents to “the Credit Agreement”, “thereunder”, “thereof” or words of like import referring to the Credit Agreement, shall mean and be a reference to the Credit Agreement as modified hereby.
(b)Except as specifically modified above, the Credit Agreement and the other Loan Documents are and shall continue to be in full force and effect and are hereby in all respects ratified and confirmed.
(c)The execution, delivery and effectiveness of this Amendment No. 1 shall not operate as a waiver of any right, power or remedy of the Administrative Agent or any Lender under any of the Loan Documents, nor, except as expressly provided herein, constitute a waiver or amendment of any provision of any of the Loan Documents.  On and after the effectiveness of this Amendment No. 1, this Amendment No. 1 shall for all purposes constitute a Loan Document.
SECTION 5Counterparts.  This Amendment No. 1 may be executed in any number of counterparts and by different parties hereto in separate counterparts, each of which when so executed and delivered shall be deemed to be an original and all of which taken together shall constitute one and the same agreement.  Delivery of an executed counterpart of a signature page to this Amendment No. 1 or such Consent by facsimile or other electronic imaging means shall be effective as delivery of a manually executed counterpart of this Amendment No. 1 or such Consent, as applicable.
SECTION 6Severability.  Any provision of this Amendment No. 1 that is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction.

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SECTION 7Governing Law.  This Amendment No. 1 shall be governed by, and construed in accordance with, the laws of the State of New York.
SECTION 8Waiver of Jury Trial.  EACH OF THE PARTIES HERETO IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, TRIAL BY JURY IN ANY ACTION OR PROCEEDING WITH RESPECT TO THIS AMENDMENT NO. 1 OR ANY OTHER LOAN DOCUMENT.

 [Signature Page to Follow]

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IN WITNESS WHEREOF, the parties hereto have caused this Amendment No. 1 to be executed by their respective officers thereunto duly authorized, as of the date first written above. 

PEABODY ENERGY CORPORATION,
a Delaware corporation

By:     /s/ James Tichenor    
Name: James Tichenor    
Title: Vice President and Treasurer

BANK OF AMERICA, N.A.,
as Administrative Agent

By:     /s/ Matthew S. Hichborn    
Name: Matthew S. Hichborn
Title: Assistant Vice President

BANK OF AMERICA, N.A., 
as Lender

By:     /s/ Adam H. Fey    
Name: Adam H. Fey
Title: Director

AUSTRALIA AND NEW ZEALAND 
BANKING GROUP LIMITED,
as Lender

By:     /s/ Robert Grillo    
Name: Robert Grillo
Title: Director

THE BANK OF TOKYO-MITSUBISHI 
UFJ, LTD.,
as Lender

By:     /s/ Christine Howatt    
Name: Christine Howatt
Title: Authorized Signatory 

BRANCH BANKING AND TRUST COMPANY,
as Lender

By:     /s/ Eric Searls    
Name: Eric Searls
Title: Senior Vice President

CITIBANK, N.A.,
as Lender

By:     /s/ Raymond G. Dunning    
Name: Raymond G. Dunning
Title: Vice President 

COMMONWEALTH BANK OF AUSTRALIA,
as Lender

By:     /s/ Ajay Lele    
Name: Ajay Lele
Title: Associate Vice President 

FIFTH THIRD BANK,
as Lender

By:     /s/ Robert M. Sander    
Name: Robert M. Sander
Title: Vice President 

HSBC BANK USA, NATIONAL ASSOCIATION, 
as Lender

By:     /s/ Adam Hendley    
Name: Adam Hendley
Title: Director

MORGAN STANLEY BANK, N.A,
as Lender

By:     /s/ Dmitriy Barskiy    
Name: Dmitriy Barskiy
Title: Authorized Signatory 

NATIONAL AUSTRALIA BANK,
ABN: 12-004-044-937
as Lender

By:     /s/ Paul Scott    
Name: Paul Scott
Title: Associate Director 

OVERSEA-CHINESE BANKING CORPORATION LIMITED, NEW YORK AGENCY, as Lender

By:     /s/ Lee Yeoh Nguan    
Name: Lee Yeoh Nguan
Title: Vice President and General Manager

PNC BANK, NATIONAL ASSOCIATION,
as Lender

By:     /s/ Richard C. Munsick    
Name: Richard C. Munsick
Title: Senior Vice President 

THE ROYAL BANK OF SCOTLAND PLC,
as Lender

By:     /s/ David Slye    
Name: David Slye
Title: Authorised Signatory 

SOVEREIGN BANK, N.A.,
as Lender

By:     /s/ William Maag    
Name: William Maag
Title: Senior Vice President  

STANDARD CHARTERED BANK,
as Lender

By:     /s/ James H. Ramage    
Name: James H. Ramage
Title: Managing Director

By:     /s/ Robert K. Reddington    
Name: Robert K. Reddington
Title: Credit Documentation Manager
          Credit Documentation Unit WB                 
                    Legal-Americas

SUMITOMO MITSUI BANKING CORPORATION, 
as Lender

By:     /s/ Shuji Yabe    
Name: Shuji Yabe
Title: Managing Director 

TAIWAN COOPERATIVE BANK LOS ANGELES BRANCH, 
as Lender

By:     /s/ Li-Hua Huang    
Name: Li-Hua Huang
Title: VP & General Manager

UBS AG, STAMFORD BRANCH, 
as Lender

By:     /s/ Irja R. Otsa    
Name: Irja R. Otsa
Title: Associate Director 

By:     /s/ David Urban    
Name: David Urban
Title: Associate Director

UMB BANK, N.A.,
as Lender

By:     /s/ Cecil G. Wood     
Name: Cecil G. Wood
Title: Executive Vice President 

UNION BANK, N.A.,
as Lender

By:     /s/ Richard G. Reeves    
Name: Richard G. Reeves
Title: Senior Vice President 

U.S. BANK NATIONAL ASSOCIATION,
as Lender

By:     /s/ John M. Eyerman    
Name: John M. Eyerman
Title: Vice President 

WELLS FARGO BANK, N.A.,
as Lender

By:     /s/ Courtney Kubesch    
Name: Courtney Kubesch
Title: Vice President

WESTPAC BANKING CORPORATION, 
as Lender

By:     /s/ David Brumby    
Name: David Brumby
Title: Executive Director 

CONSENT OF LOAN PARTIES
Dated as of November 16, 2012

The undersigned, as Subsidiary Guarantors under the “Subsidiary Guaranty” (as such term is defined in and under the Credit Agreement referred to in the foregoing Amendment No. 1), each hereby consents and agrees to the foregoing Amendment No. 1 and hereby confirms and agrees that (i) the Subsidiary Guaranty is, and shall continue to be, in full force and effect and is hereby ratified and confirmed in all respects except that, upon the effectiveness of said Amendment No. 1, the reference in the Subsidiary Guaranty to the “Credit Agreement,” “thereunder,” “thereof” and words of like import referring to the Credit Agreement, shall mean and be a reference to the Credit Agreement as modified by said Amendment No. 1, and (ii) the Subsidiary Guaranty does, and shall continue to, constitute a guaranty of the Borrower Obligations as defined in the Subsidiary Guaranty.  

[Signature Page to Follow]

    

IN WITNESS WHEREOF, the parties hereto have caused this Consent of Loan Parties to be executed by their respective officers thereunto duly authorized, as of the date first written above.

EACH OF THE SUBSIDIARY GUARANTORS LISTED ON SCHEDULE I HERETO

By:    /s/ James A. Tichenor
Name: James A. Tichenor
Title: Vice President and Treasurer

SCHEDULE I
LIST OF SUBSIDIARY GUARANTORS
	
	
	American Land Development, LLC

	American Land Holdings of Colorado, LLC

	American Land Holdings of Illinois, LLC

	American Land Holdings of Indiana, LLC

	American Land Holdings of Kentucky, LLC

	American Land Holdings of West Virginia, LLC

	Arid Operations Inc.

	Big Ridge, Inc.

	Big Sky Coal Company

	Black Hills Mining Company, LLC

	BTU Western Resources, Inc.

	Caballo Grande, LLC

	Caseyville Dock Company, LLC

	Central States Coal Reserves of Illinois, LLC

	Central States Coal Reserves of Indiana, LLC

	Century Mineral Resources, Inc.

	Coal Reserve Holding Limited Liability Company No. 1

	COALSALES II, LLC

	Colorado Yampa Coal Company

	Conservancy Resources, LLC

	Cottonwood Land Company

	Cyprus Creek Land Company

	Cyprus Creek Land Resources, LLC

	Dyson Creek Coal Company, LLC

	Dyson Creek Mining Company, LLC

	El Segundo Coal Company, LLC

	Elkland Holdings, LLC

	Falcon Coal Company, LLC

	Gallo Finance Company

	Gold Fields Chile, LLC

	Gold Fields Mining, LLC

	Gold Fields Ortiz, LLC

	Hayden Gulch Terminal, LLC

	Highwall Mining Services Company

	Hillside Recreational Lands, LLC

	HMC Mining, LLC

	Illinois Land Holdings, LLC

	Independence Material Handling, LLC

	James River Coal Terminal, LLC

	Juniper Coal Company

	Kayenta Mobile Home Park, Inc.

	
	
	Kentucky Syngas, LLC

	Lively Grove Energy, LLC

	Lively Grove Energy Partners, LLC

	Marigold Electricity, LLC

	Midco Supply and Equipment Corporation

	Midwest Coal Acquisition Corp.

	Midwest Coal Reserves of Illinois, LLC

	Midwest Coal Reserves of Indiana, LLC

	Moffat County Mining, LLC

	Mustang Energy Company, L.L.C.

	New Mexico Coal Resources, LLC

	Pacific Export Resources, LLC

	Peabody America, Inc.

	Peabody Archveyor, L.L.C.

	Peabody Arclar Mining, LLC

	Peabody Bear Run Mining, LLC

	Peabody Bear Run Services, LLC

	Peabody Caballo Mining, LLC

	Peabody Cardinal Gasification, LLC

	Peabody COALSALES, LLC

	Peabody COALTRADE, LLC

	Peabody COALTRADE International (CTI), LLC

	Peabody Colorado Operations, LLC

	Peabody Colorado Services, LLC

	Peabody Coulterville Mining, LLC

	Peabody Development Company, LLC

	Peabody Electricity, LLC

	Peabody Employment Services, LLC

	Peabody Energy Generation Holding Company

	Peabody Energy Investments, Inc.

	Peabody Energy Solutions, Inc.

	Peabody Gateway North Mining, LLC

	Peabody Gateway Services, LLC

	Peabody Holding Company, LLC

	Peabody Illinois Services, LLC

	Peabody Indiana Services, LLC

	Peabody International Investments, Inc.

	Peabody International Services, Inc.

	Peabody Investments Corp.

	Peabody Magnolia Grove Holdings, LLC

	Peabody Midwest Management Services, LLC

	Peabody Midwest Mining, LLC

	Peabody Midwest Operations, LLC

	Peabody Midwest Services, LLC

	Peabody Natural Gas, LLC

	
	
	Peabody Natural Resources Company

	Peabody New Mexico Services, LLC

	Peabody Operations Holding, LLC

	Peabody Powder River Mining, LLC

	Peabody Powder River Operations, LLC

	Peabody Powder River Services, LLC

	Peabody PowerTree Investments, LLC

	Peabody Recreational Lands, L.L.C.

	Peabody Rocky Mountain Management Services, LLC

	Peabody Rocky Mountain Services, LLC

	Peabody Sage Creek Mining, LLC

	Peabody School Creek Mining, LLC

	Peabody Services Holdings, LLC

	Peabody Southwest, LLC

	Peabody Southwestern Coal Company

	Peabody Terminal Holding Company, Inc.

	Peabody Terminals, LLC

	Peabody Trout Creek Reservoir LLC

	Peabody Twentymile Mining, LLC

	Peabody Venezuela Coal Corp.

	Peabody Venture Fund, LLC

	Peabody-Waterside Development, L.L.C.

	Peabody Western Coal Company

	Peabody Wild Boar Mining, LLC

	Peabody Wild Boar Services, LLC

	Peabody Williams Fork Mining, LLC

	Peabody Wyoming Gas, LLC

	Peabody Wyoming Services, LLC

	PEC Equipment Company, LLC

	Point Pleasant Dock Company, LLC

	Pond River Land Company

	Porcupine Production, LLC

	Porcupine Transportation, LLC

	Riverview Terminal Company

	Sage Creek Holdings, LLC

	School Creek Coal Resources, LLC

	Seneca Coal Company, LLC

	Shoshone Coal Corporation

	Star Lake Energy Company, L.L.C.

	Sugar Camp Properties, LLC

	Thoroughbred Generating Company, LLC

	Thoroughbred Mining Company, LLC

	Twentymile Coal, LLC

	West Roundup Resources, LLCEXHIBIT 10.1

 

AGREEMENT
OF SHARE EXCHANGE 

AND
PLAN OF REORGANIZATION

BETWEEN

EARTHBLOCK
TECHNOLOGIES INC.

AND

EARTH
GEN-BIOFUEL INC .

 

 

THIS
AGREEMENT made and entered into as of the 25th day of September, 2012, by and between Earthblock Technologies Inc., a Nevada corporation
(hereinafter called "EBLC"), and Earth Gen-Biofuel Inc., a Nevada corporation (hereinafter called "Gen-Biofuel").

 

WITNESSETH
THAT: 

 

A.        EBLC is a company whose common stock may be publicly traded. 

 

B.        GEN-BIOFUEL is a private company, which manages agricultural projects for the production of renewable resources.

 

C.        Subject to the approval of the Board of Directors of EBLC and GEN-BIOFUEL, EBLC and GEN-BIOFUEL shall enter into an Agreement of
Exchange (hereinafter called the "Exchange Agreement") in substantially the form attached hereto and made a part hereof
as Exhibit A, which provides, among other things, for the issuance by EBLC of 1,487,600,000 of its restricted common stock shares
to all of the shareholders of GEN-BIOFUEL in exchange for their GEN-BIOFUEL common stock shares (the "Exchange"). 

 

D.        Following the Exchange under the Exchange Agreement, GEN-BIOFUEL will be a wholly-owned subsidiary of EBLC. 

 

E.        It is intended that the transactions contemplated by this Agreement shall constitute an exchange conforming to the provisions of
Section 368(a)(2) of the Internal Revenue Code of 1954. 

 

NOW
THEREFORE, in consideration of the mutual covenants and agreements and the benefits to be realized by each of the parties, the
following transactions are hereby agreed to, subject to the conditions hereinafter stated: 

 

1.       The
Exchange

 

(a)        In
accordance with the Exchange Agreement, on the Closing Date hereinafter referred to, and in exchange for all of the then issued
and outstanding shares of capital stock of GEN-BIOFUEL (the "GEN-BIOFUEL Capital Stock"), EBLC shall issue the number
of fully paid and non-assessable shares of voting EBLC common stock, $.001 par value per share (hereinafter called "EBLC
Common Stock") in order to permit the Exchange to be effected in accordance with the terms of the Exchange Agreement, on
the basis of FOUR (4) shares of EBLC Common Stock for each One (1) share of GEN-BIOFUEL Capital Stock, subject to rounding to
a whole share as provided in the Exchange Agreement. 

    	1

    	 

    
 

If
between the date hereof and the Closing Date, EBLC shall effect any reclassification, recapitalization, subdivision, combination
or exchange of shares, in respect of the outstanding shares of common stock of EBLC or a stock dividend thereon shall be declared
with a record date within said period, the per share amounts of EBLC Common Stock to be issued and delivered in the Exchange shall
be appropriately adjusted. 

 

(b)        EBLC shall issue and deliver as and when required by the Exchange Agreement, certificates representing the shares of EBLC Common
Stock for which the shares of GEN-BIOFUEL Capital Stock outstanding immediately prior to the effective time of the Exchange shall
have been exchanged as provided in the Exchange Agreement. 

 

(c)        GEN-BIOFUEL
shall submit this Agreement and the Exchange Agreement to its shareholders for majority consent, in accordance with Nevada law.
GEN-BIOFUEL shall use its best efforts to receive such consents on or before September 25, 2012.

 

(d)        EBLC
is not required under Nevada corporate law to submit this Agreement and the Exchange Agreement to its shareholders for approval.

 

(e)        Following
the approval of the Exchange by the majority of stockholders of GEN-BIOFUEL, and upon execution of the Exchange Agreement by the
officers of EBLC and GEN-BIOFUEL, a certificate of Exchange containing the information required by Nevada corporate law shall
be filed with the Nevada Secretary of State. 

 

2.       Closing

 

(a)        The
closing of all the transactions contemplated hereby (herein called the "Closing" or the "Closing Date") shall
take place at the offices of GEN-BIOFUEL in the City of Industry, County of Los Angeles, CA at 1:30 p.m. on a date within two
(2) business days after all of the conditions described in paragraphs 13 and 14 hereof have been satisfied or, to the extent permitted
in paragraph 15 hereof, their satisfaction has been waived. EBLC and GEN-BIOFUEL will use their best efforts to obtain the approvals
specified in paragraph 7 hereof and any other of the consents, waivers or approvals necessary or desirable to accomplish the transactions
contemplated by this Agreement and the Exchange Agreement. All documents required to be delivered by each of the parties hereto
shall be duly delivered to the respective recipient thereof at or prior to the Closing. In no event shall the Closing Date be
later than September 25, 2012, and if it is delayed beyond said date the either party shall have the right to terminate this Agreement
upon notice to that effect. 

 

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(b)        At the Closing, EBLC and GEN-BIOFUEL shall jointly direct that the Certificate of Exchange be duly filed, and it shall in accordance
with such direction be filed, in Nevada so that the Exchange shall be effective as soon after the Closing Date as possible. 

 

3.       Investigation
by the Parties

 

EBLC
and GEN-BIOFUEL each may, prior to the Closing Date, make or cause to be made such investigation of the properties of the other
and its subsidiaries and of its financial and legal condition as the party making such investigation deems necessary or advisable
to familiarize itself with such properties and other matters, provided, that such investigation shall not interfere with normal
operations. EBLC and GEN-BIOFUEL each agrees to permit the other and its authorized agents or representatives to have, after the
date of execution hereof, full access to its premises and to all of its books and records at reasonable hours, and its subsidiaries
and officers will furnish the party making such investigation with such financial and operating data and other information with
respect to the business and properties of it and its subsidiaries as the party making such investigation shall from time to time
reasonably request. Each party further agrees that in the event that the transactions contemplated by this Agreement shall not
be consummated, it and its officers, employees, accountants, attorneys, engineers and other representatives will not disclose
or make available to any other person or use for any purpose unrelated to the consummation of this Agreement any information,
whether written or oral, with respect to the other party and its subsidiaries or their business which it obtained pursuant to
this Agreement. Such information shall remain the property of the party providing it and shall not be reproduced or copies without
the consent of such party. In the event that the transactions contemplated by this Agreement shall not be consummated, all such
written information shall be returned to the party providing it. 

 

4.       Shareholders
Of GEN-BIOFUEL

 

Prior
to the Closing Date or as soon as practical, GEN-BIOFUEL agrees to obtain from each of its shareholders an agreement to the effect
that: (a) such shareholder is acquiring the EBLC Common Stock to be received by him hereunder for his own account, not with a
view toward distribution through a private placement by EBLC pursuant to Rule 506 of the Securities and Exchange Commission (the
"SEC"); and (b) such shareholder will not sell any portion of his EBLC Common Stock for an indefinite period of time
after the Closing Date except as may be allowed under the Securities and Exchange Act of 1934 as amended.

 

5.       State
Securities Laws

 

EBLC
and GEN-BIOFUEL will each take such steps as may be necessary on their respective parts to comply with any state securities or
so-called Blue Sky laws applicable to the action to be taken by them in connection with the Exchange and the delivery by EBLC
to GEN-BIOFUEL shareholders of the EBLC Common Stock pursuant to this Agreement and the Exchange Agreement. 

 

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6.       Business
Pending the Closing

 

(a)        From the date of this Agreement to and including the Closing Date, except as may be first approved by GEN-BIOFUEL or as is otherwise
permitted or contemplated by this Agreement: (i) EBLC shall conduct its business only in the usual and ordinary course without
the creation of any additional indebtedness for money borrowed maturing in more than one year; (ii) no change shall be made in
the authorized capitalization of EBLC except as contemplated by this Agreement; (iii) no shares of capital stock of EBLC shall
be authorized for issuance or issued and no agreement or commitment for the issuance hereof shall be entered into; (iv) no rights
or elections shall be created or granted to purchase stock under any employee stock bonus, thrift or purchase plan or otherwise;
(v) no amendment shall be made to EBLC's Articles of Incorporation or Bylaws, except as contemplated by this Agreement; (vi) no
modification in regard to the payment of salaries or compensation to its personnel and no increase shall be made in the compensation
of its personnel; (vii) no contract or commitment shall be entered into by or on behalf of EBLC and no sale or purchase of assets
shall be made except in the ordinary course of business; (viii) EBLC will use all reasonable and proper efforts to preserve its
business organization intact, to keep available the services of its present employees and to maintain satisfactory relationships
between EBLC and its suppliers, customers, regulatory agencies, and other having business relations with it; (ix) EBLC shall make
no amendments or contributions to any profit sharing plan; and (x) the Board of Directors of EBLC will not declare any dividends
on, or otherwise make any distribution in respect of, its outstanding shares of capital stock;

 

(b)        From
the date of this Agreement to and including the Closing Date, except as may be first approved by EBLC or as is otherwise permitted
or contemplated by this Agreement: (i) GEN-BIOFUEL (which term shall, where applicable in this paragraph 6, and specified in paragraph
11 hereof) shall conduct its business only in the usual and ordinary course without the creation of any additional indebtedness
exceeding $10,000 for money borrowed maturing in more than one year, except for the lease of capital equipment pursuant to leasing
company commitments outstanding prior to the date of this Agreement; (ii) no change shall be made in the authorized capitalization
of GEN-BIOFUEL, except as contemplated by this Agreement; (iii) no shares of capital stock of GEN-BIOFUEL shall be authorized
for issuance or issued and no agreement or commitment for the issuance thereof shall be entered into; (iv) no rights or elections
shall be created or granted to purchase stock under any employee stock bonus, thrift or purchase plan or otherwise; (v) no amendment
shall be made to GEN-BIOFUEL's Articles of Incorporation or Bylaws, except as contemplated by this Agreement; (vi) no modification
shall be made in GEN-BIOFUEL's in regard to the payment of salaries or compensation to its personnel and no increase shall be
made in the compensation of its personnel, provided that nothing herein shall preclude, (1) the continuation of GEN-BIOFUEL's
present practice of periodically reviewing the salaries of its personnel and granting normal increase in such salaries or compensation
to such personnel, or (2) the hiring of new personnel at a salary or compensation deemed reasonable in the ordinary course of
business; (vii) no contract or commitment shall be entered into by or on behalf of GEN-BIOFUEL and no sale or purchase of assets
shall be made except in the ordinary course of business; (viii) GEN-BIOFUEL will use all reasonable and proper efforts to preserve
its business organization intact, to keep available the services of its present employees and to maintain satisfactory relationships
between GEN-BIOFUEL and its suppliers, customers, regulatory agencies, and others having business relations with it; (ix) GEN-BIOFUEL
shall make no amendments or contributions to its profit sharing plan; and (x) the Board of Directors of GEN-BIOFUEL will not declare
any dividends on, or otherwise make any distribution in respect of, its outstanding shares of capital stock.

    	4

    	 

    
 

7.     Efforts
to Obtain Approvals and Consents 

 

In
addition to EBLC and GEN-BIOFUEL obtaining the requisite shareholder approval as described in paragraph 1 hereof, EBLC and GEN-BIOFUEL
will use all reasonable and proper efforts to obtain, where required, the approval and consent: (i) of any governmental authorities
having jurisdiction over the transactions contemplated in this Agreement; and (ii) of such other persons whose consent is required
to the transactions contemplated by this Agreement.

 

8.     Cooperation
Between Parties 

 

EBLC
and GEN-BIOFUEL shall fully cooperate with each other and with their respective counsel and accountants in connection with any
steps required to be taken as part of their obligations under this Agreement, including the preparation of financial statements
and the supplying of information. 

 

9.      No
Tax Ruling

 

EBLC
and GEN-BIOFUEL agree that they will not attempt to obtain ruling from the United States Internal Revenue Service to the effect
that for Federal income tax purposes no gain or loss will be recognized to the holders of GEN-BIOFUEL Capital Stock upon the receipt
of EBLC Common Stock in exchange for their GEN-BIOFUEL shares in accordance with the provisions of this Agreement and the Exchange
Agreement.

 

10.     Representations
of EBLC

 

EBLC represents, warrants
and agrees that:

 

(a)        EBLC is a corporation duly organized, validly existing and
in good standing under the laws of the State of Nevada and it is duly qualified to do business and in good standing in every jurisdiction
in which the nature of its business of the character of its properties makes such qualification necessary. EBLC has the corporate
power and any necessary governmental authority to own or lease their respective properties now owned and to carry on their respective
business as now being conducted.

 

(b)        As
of September 25, 2012 the capitalization of EBLC as described herein and in the attached Share Exchange Agreement will remain
unchanged. The outstanding capital stock of EBLC has been duly authorized and issued and is fully paid and non-assessable. EBLC
has no commitment to issue nor will it issue any shares of its capital stock or any securities or obligations convertible into
or exchangeable for, or giving any person any right to acquire from EBLC, any shares of its capital stock, except for those shares
issued in conformity with paragraph 6(a)(iii) above. 

    	5

    	 

    
 

(c)        The
shares of EBLC Common Stock which are to be issued and delivered to the GEN-BIOFUEL shareholders pursuant to the terms of this
Agreement and the Exchange Agreement, when so issued and delivered, will be validly authorized and issued and will be fully paid
and non-assessable. No stockholder of EBLC, or other person, will have any preemptive rights in respect to the EBLC Common stock.

 

(d)        All
of the previously filed financial statements filed with the SEC through December 31, 2007 present fairly the financial condition
of EBLC, at the periods indicated therein, and the results of its operations and changes in financial position for the year and
periods then ended in conformity with generally accepted accounting principles applied on a consistent basis. EBLC has not completed
any reviews or audits of its financial statements for the period after December 31, 2007. Since that time EBLC has incurred material
liabilities and financial commitments that are not included in the December 31, 2007 annual report on form 10-K-SB. These obligations
have been disclosed to GEN-BIOFUEL in the disclosures and financial information provided as part of the due diligence process
and have incurred in the ordinary course of business since December 31, 2007. EBLC has provided GEN-BIOFUEL with all requested
business and financial information for the periods since December 31, 22007. Since September 1, 2012 to the date of this Agreement,
there has been no material adverse change in the assets or liabilities or in the business or condition, financial or otherwise,
of EBLC, except in the ordinary course of business or as contemplated by this Agreement. Nor has EBLC, except in the ordinary
course of business or as contemplated by this Agreement, incurred any indebtedness for money borrowed. There have been no tax
returns or reports of EBLC that may or may not have been required by law filed since December 31, 2007. EBLC may be obligated
for taxes, assessments and other governmental charges now due to be paid or filed by EBLC. GEN-BIOFUEL was been informed that
all liabilities of EBLC as disclosed by EBLC and the some of the books and records of EBLC have not been brought up to date and
may not be adequate and EBLC does not may any representation as to possibility of any actual or proposed additional assessments
in respect of taxes, against it or requirements imposed by governmental agencies to file reports. 

 

(e)        Except
for changes resulting from the ordinary course of its business, EBLC, will on the Closing Date own, the full right, title and
interest in and to all its property and assets (excluding property leased from others) in each case free and clear of all mortgages,
liens, restrictions, charges and other encumbrances and defects of title (other than easements, rights of way, reservations and
other conditions of title, encumbrances and defects of title which are not individually or in the aggregate materially adverse
to the business of EBLC). 

 

(f)        Subsequent
to September 1, 2012, EBLC has not declared or paid any dividend on its outstanding shares of common stock or declared or made
any distribution on, or directly or indirectly redeemed, purchased or otherwise acquired any of its outstanding stock or authorized
the creation or issuance of, or issued any additional shares of stock, or agreed to take any such action, except as expressly
provided for in Paragraph 6(a)iii above this Agreement. EBLC will not take any such action during the period between the date
hereof and the Closing Date, except as expressly provided for in paragraph 14 below. 

    	6

    	 

    
 

(g)        EBLC
is not engaged in or a party to, or to the knowledge of EBLC threatened with, any material legal action or other proceeding before
any court or administrative agency, except as set forth in disclosures made by EBLC and previously furnished to GEN-BIOFUEL. EBLC,
to the knowledge of EBLC, has not been charged with, and is not under investigation with regard to, any charge concerning any
presently pending material violation of any provision of Federal, State or other applicable law or administrative regulations
in respect of its business except as set forth in said memorandum. 

 

(h)        There
has not been, since September 1, 2012, and will not be prior to the Closing Date, a purchase or sale or any other acquisition,
transfer or distribution of any assets or properties on the part of EBLC except in the ordinary course of business. 

 

(i)        EBLC
has adequate permits or operating rights without unusual restrictions to allow it to conduct the business in which it is presently
engaged except in certain instances where in the reasonably exercised judgment of EBLC the lack of a current permit or operating
right has no adverse effect on the conduct of such business. 

 

(j)        Except
in each case as set forth in disclosures to EBLC and previously furnished to GEN-BIOFUEL, as of the date of this Agreement EBLC
is not a holder of or a party to any: (i) written or oral contract for employment of any officer or other person, (ii) contract
with any labor union, (iii) bonus, pension, profit sharing, retirement, stock purchase, stock option, insurance, or similar plan
or practice in effect with respect to its employees or other person, (iv) indenture of mortgage, debenture, indenture, loan or
borrowing agreement, (v) bonding arrangement, including performance bond, (vi) continuing contract for future purchase, sale,
lease or distribution of materials, services, supplied, products, or equipment involving annual payments in excess of $1,000,
(vi) lease or other commitment for the rental of office space, storage or other facilities, (viii) contract or lease agreement
for the acquisition or lease of motor vehicles, (ix) patent, patent application, patent right, patentable inventions, trademark,
trademark registration and applications therefore, trade name, copyright, copyright registration and application therefore, patent
license granted to or by EBLC and in force or contracts with employees or others relating in whole or in part to disclosure, assignment
or patenting of any inventions, discoveries improvements, shop rights, processes, formulae or other know-how, presently owned
or held, in whole or in part, by EBLC, (x) insurance policy covering its properties, buildings, machinery, equipment, furniture,
fixtures or operations, or the life of any person, (xi) agreement between a present employee of EBLC and persons, firms or corporations
other than EBLC relating in whole or in part to disclosure, assignment or patenting of inventions, discoveries, improvements,
shop rights, processes, formulae or other know-how, including without limitation thereto, to the best knowledge of EBLC, agreements
entered into by such employees prior to the time they became employees of EBLC, or (xii) material contract or commitment not made
in the ordinary course of business.

 

(k)        The execution and carrying out of this Agreement and compliance with the terms and provisions hereof by EBLC will not conflict
with or result in any material breach of any of the terms, conditions, or provision of, or constitute a default under, or result
in the creation of, any lien, charge or encumbrance upon any of the property or assets of EBLC or any of its subsidiaries pursuant
to any corporate charter, bylaw, indenture, mortgage, agreement (other than that which is created by virtue of this Agreement),
or other instrument to which EBLC is a party or by which it is bound or affected. 

 

    	7

    	 

    
 

(l)        This
Agreement and the information furnished hereunder on behalf of EBLC do not contain any untrue statement of a material fact nor
omit to state a material fact necessary to be stated in order to make the statements contained herein and therein not misleading;
and there is no fact which materially adversely affects or in the future (so far as EBLC can now foresee) will materially adversely
affect the business operations, affairs or condition of EBLC or any of the properties or assets which has not been set forth in
this Agreement and other documents and papers furnished hereunder. 

 

11.     Representations
of GEN-BIOFUEL

 

GEN-BIOFUEL
represents, warrants and agrees that: 

 

(a)        GEN-BIOFUEL
is a corporation duly organized, validly existing and in good standing under the laws of the State of Nevada. GEN-BIOFUEL has
the corporate power and any necessary governmental authority to own or lease its properties now owned or leased and to carry on
its business as now being conducted. GEN-BIOFUEL is duly qualified to do business and in good standing in every jurisdiction in
which the nature of its business or the character of its properties makes such qualification necessary. 

 

(b)        GEN-BIOFUEL
has no commitment to issue nor will it issue any shares of its capital stock or any securities or obligations convertible into
or exchangeable for, or giving any person any right to acquire from GEN-BIOFUEL, any shares of its capital stock, except for those
shares issued or to be issued in conformity with paragraph 6(b)(iii) above. 

 

(c)        Since
September 1, 2012, there has been no material adverse change in the assets or liabilities or in the business or condition, financial
or otherwise, of GEN-BIOFUEL and no change except in the ordinary course of business or as contemplated by this Agreement. GEN–BIOFUEL
has not been required to file any tax returns and reports as may be required by law to be filed. There are no taxes, assessments
and other governmental charges now due (other than any still payable without penalty) upon GEN-BIOFUEL upon any of their properties
or assets have been paid. All amounts, which have been reflected as liabilities on the books of GEN-BIOFUEL in respect of taxes
are considered adequate and GEN-BIOFUEL does not know of any actual or proposed additional assessments in respect of taxes, against
it.

 

(d)        Except
for changes resulting from the ordinary course of its business and except for the mortgages, liens, restrictions, charges and
other encumbrances set forth in the disclosures provided by GEN-BIOFUEL and previously furnished to EBLC, GEN-BIOFUEL owns and
will on the Closing Date own, the full right, title and interest in and to all their property and assets (excluding property leased
from others) in each case free and clear of all mortgages, liens, restrictions, charges and other encumbrances and defects of
title (other than easements, rights of way, reservations and other conditions of title, encumbrances and defects of title which
are not individually or in the aggregate materially adverse to the business of GEN-BIOFUEL).

 

    	8

    	 

    
 

(e)        Subsequent to September 1, 2012, GEN-BIOFUEL has not declared or paid any dividend on its outstanding shares of common stock or
declared or made any distribution on, or directly or indirectly redeemed, purchased or otherwise acquired any of its outstanding
stock or authorized the creation or issuance of, or issued any additional shares of stock, or agreed to take any such action, except
as expressly provided for in this Agreement. GEN-BIOFUEL will not take any such action during the period between the date hereof
and the Closing Date except as provided herein. 

 

(f)        GEN-BIOFUEL
is not engaged in or a party to, or to the knowledge of GEN-BIOFUEL threatened with, any material legal action or other proceeding
before court or administrative agency. GEN-BIOFUEL to the best of its knowledge has not been charged with, or is under investigation
with respect to, any charge concerning any presently pending material violation of any provision of Federal, State or other applicable
law or administrative regulations in respect of its business. 

 

(g)        There
has not been, since September 1, 2012, and will not be prior to the Closing Date, a purchase or sale or any other acquisition,
transfer or distribution of any assets or properties on the part of GEN-BIOFUEL or its subsidiaries, except in the ordinary course
of business. 

 

(h)        GEN-BIOFUEL
has adequate permits or operating rights without unusual restrictions to allow them to conduct the business in which they are
presently engaged, except in certain instances where in the reasonably exercised judgment of GEN-BIOFUEL the lack of a current
permit or operating right has no adverse effect on the conduct of such business. 

 

(i)        Except
in each case as set forth in the information provided by GEN-BIOFUEL and previously furnished to EBLC, as of the date of this
Agreement GEN-BIOFUEL is not a holder of or a party to any written or oral (i) contract for employment of any officer or other
person other than its officers and Directors, (ii) contract with any labor union, (iii) bonus, pension, profit sharing, retirement,
stock purchase, stock option, insurance, or similar plan or practice in effect with respect to its employees or other persons,
(iv) indenture of mortgage, debenture, indenture, loan or borrowing agreement, (v) bonding arrangement, including performance
bond, (vi) continuing contract for future purchase, sales, lease or distribution of materials, services, supplies, products, or
equipment involving annual payments in excess of $10,000, (vii) lease or other commitment for the rental of office space, storage
or other facilities, (viii) contract or lease agreement for the acquisition or lease of motor vehicles, (ix) patent, patent application,
patent right, patentable inventions, trademark, trademark registration and applications therefore, trade name, copyright, copyright
registration and application therefore, patent license granted to or by GEN-BIOFUEL and in force or contracts with employees or
others relating in whole or in part to disclosure, assignment or patenting of any inventions, discoveries, improvements, shop
rights, processes, formulae or other know-how, presently owned or held, in whole or in part, by GEN-BIOFUEL, (x) insurance policy
covering its properties, buildings machinery, equipment, and persons, firms or operations, or the life of any person, (xi) agreement
between a present employee of GEN-BIOFUEL and persons, firms or corporations other than GEN-BIOFUEL relating in whole or in art
to disclosure, assignment or patenting of inventions, discoveries, improvements, shop rights, processes, formulae or other know-how,
including without limitation thereto, to the best knowledge of GEN-BIOFUEL, agreements entered into by such employees prior to
the time they became employees of GEN-BIOFUEL, or (xii) material contract or commitment not made in the ordinary course of business.

 

    	9

    	 

    

(j)        GEN-BIOFUEL
has the corporate power to enter into this Agreement, the execution and delivery and performance of this Agreement have been duly
authorized by all requisite corporate action, and this Agreement constitutes the valid and binding obligation of GEN-BIOFUEL.

 

(k)        The
execution and carrying out of this Agreement and compliance with the terms and provisions hereof by GEN-BIOFUEL will not conflict
with or result in any beach of any of them terms, conditions or provisions of, or constitute a default under, or result in the
creation of, any lien, charge, or encumbrance upon any of the properties or assets of GEN-BIOFUEL pursuant to any corporate charter,
indenture, mortgage, agreement (other than that which is created by virtue of this Agreement) or other instrument to which GEN-BIOFUEL
is a party or by which it is bound or affected. 

 

(l)        This
Agreement and information and documents furnished hereunder on behalf of GEN-BIOFUEL do not contain any untrue statement of a
material fact nor omit to state a material fact necessary to be stated in order to make the statements contained herein and therein
not misleading; and there is no fact which materially adversely affects or in the future (so far as GEN-BIOFUEL can now foresee)
will materially adversely affect the business operations, affairs or condition of vitro or any of its subsidiaries or any of its
or their properties or assets which has not been set forth in this Agreement or other documents and papers furnished hereunder.

 

12.     Survival
of Warranties

 

The
representations and warranties made herein by EBLC and GEN-BIOFUEL shall survive the Closing hereunder. 

 

13.     Conditions to the Obligations of EBLC

 

The
obligations of EBLC hereunder are subject to the satisfaction on or before the Closing Date of the following conditions: 

 

(a)        This
Agreement and the transactions contemplated hereby shall have been approved by a majority of the outstanding shares of GEN-BIOFUEL
Capital Stock and GEN-BIOFUEL's Board of Directors. 

 

(b)        Each
shareholder of GEN-BIOFUEL will have properly executed and delivered to EBLC as soon as practical the shareholder's agreement
described in paragraph 4 hereof. 

 

(c)        GEN-BIOFUEL
shall have delivered all current financial information in a form acceptable to EBLC (the "GEN-BIOFUEL Financial Information").

 

(d)        GEN-BIOFUEL
shall deliver to EBLC a certificate of GEN-BIOFUEL's President which states all of the GEN-BIOFUEL Financial Information presents
fairly the financial condition of GEN-BIOFUEL, as indicated therein, and the results of its operations and changes in financial
position for the partial period of operations as acceptable to EBLC and that GEN-BIOFUEL has no material liabilities or commitments
other than as listed or noted on the GEN-BIOFUEL Financial Information, or as incurred in the ordinary course of business.

 

    	10

    	 

    

(e)        The representations and warranties of GEN-BIOFUEL contained in this Agreement shall be true in all material respects on and as
of the Closing Date with the same effect as though such representations and warranties had been made on and as of such date, except
for changes permitted by this Agreement or those incurred in the ordinary course of business, and EBLC shall have received from
GEN-BIOFUEL at the Closing a certificate, dated the Closing Date, of the President of GEN-BIOFUEL to that effect. 

 

(f)        Each
and all of the respective agreements of GEN-BIOFUEL to be performed on or before the Closing Date pursuant to the terms hereof
shall in all material respects have been duly performed and GEN-BIOFUEL shall have delivered to EBLC a certificate dated the Closing
Date, of the President of GEN-BIOFUEL to that effect. 

 

14.     Conditions
to the Obligations of GEN-BIOFUEL

 

The
obligations of GEN-BIOFUEL hereunder are subject to the satisfaction on or before the Closing Date of the following conditions:

 

(a)        This
Agreement and the transactions contemplated hereby shall have been approved by EBLC's Board of Directors. 

 

(b)        All
the terms and covenants of this Agreement to be complied with or performed by EBLC shall have been fully complied with and performed.

 

(c)        All
representations and warranties of EBLC contained in this Agreement shall be true on and as of the Closing Date with the same effect
as though such representations and warranties had been made on and as of such date, and EBLC shall have delivered to GEN-BIOFUEL
a certificate dated the Closing Date of the President of EBLC to that effect. 

 

(d)        The
necessary approvals described in paragraph 7 hereof shall have been granted. 

 

(e)        EBLC's President, Chief Executive Officer, Secretary, Treasurer shall resign from those offices and the both Directors of EBLC
shall appoint George Shen as President and Chief Executive Officer and Secretary of EBLC to serve at the discretion of the Board
of Directors.

 

(e)        The
two Directors of EBLC shall appoint George Shen to serve as the sole director until such time as additional directors are appointed
or until the next regular annual meeting and upon such appoint the two current shall reign their Board of Directors positions.

 

    	11

    	 

    

15.     Termination and Modification Rights

 

(a)        This
Agreement (except for the last three sentences of paragraph 3 hereof) may be terminated at any time prior to the Closing Date
by (1) mutual consent of the parties hereto authorized by their respective Boards of Directors or (2) upon written notice to the
other party, by either party upon authorization of its Board of Directors: 

 

    (i)        if
in its reasonably exercised judgment there shall have occurred a material adverse change in the financial condition or business
of the other party or the other party shall have suffered a material loss or damage to any of its property or assets, which change,
loss or damage materially affects or impairs the ability of the other party to conduct its business, or if any previously undisclosed
condition which materially adversely affects the earning power or assets of either party comes to the attention of the other party;

 

    (ii)        if
the terms, covenants or conditions of this Agreement to be complied with or performed by one of the other parties at or before
the Closing Date shall not have been materially complied with or performed at the time required for such compliance or performance
and such noncompliance or nonperformance shall not have been waived by the party giving notice of termination; and 

 

    (iii)        if
any action or proceeding shall have been instituted or threatened before a court or other governmental body or by any public authority
to restrain or prohibit the transaction contemplated by this Agreement or if the consummation of such transactions would subject
either of such parties to liability for breach of any law or regulation.

 

(b)        As
provided in paragraph 2(a), this Agreement may be terminated by either party upon notice to the other in the event the Closing
shall not be held by September 25, 2012. 

 

(c)        Any
term or condition of this Agreement may be waived at any time by the party hereto which is entitled to the benefit thereof, by
action taken by the Board of Directors of such party; and any such term or condition may be amended at any time, by an agreement
in writing executed by the chairman of the Board or the President of each of the parties pursuant to authorization by the respective
Boards of Directors; provided however, that no amendment of any principal term of the Exchange shall be effected after approval
of this Agreement by the shareholders of GEN-BIOFUEL, unless such amendment is approved by such shareholders in accordance with
the respective state corporation law.

 

16.     Expenses

 

In
the event this Agreement is terminated without consummation at the Closing, EBLC and GEN-BIOFUEL shall each pay all of its respective
expenses incurred for the purpose of carrying this Agreement into effect, except that each party hereto, in addition to its own
expenses, shall pay all of the non-breaching party's reasonable out-of-pocket expenses if termination is caused by a breach of
any representation or warranty made in this Agreement or a default by said party in performance of any obligation hereunder.

 

    	12

    	 

    

17.     Finders

 

Each
of the parties represents that no broker, agent, finder or similar person has been retained or paid and that no brokerage fee
or other commission has been agreed to be paid for or on account of this Agreement. 

 

18.     Governing Law And Venue 

 

This
Agreement shall be governed by and interpreted in accordance with the laws of the State of Ohio, United States of America. The
parties hereby expressly agree that the proper venue for any claim or cause of action by the parties shall be in a court of proper
jurisdiction in Cincinnati, Ohio and the each party upon execution of this Agreement consents to the service of process from such
court.

 

19.     Notices

 

Any
notices or other communications required or permitted hereunder shall be sufficiently given if sent by certified mail, postage
prepaid, addressed as follows: 

 

Earthblock
Technologies Inc.

Attn:
James Hines, Director and Secretary

5888 Crittenden Drive

Cincinnati
OH 45224 

 

Earth
Gen-Biofuel Inc.

George
Shen, Chairman and President

17870
Castleton Street, # 205

City
Of Industry CA 91748

 

20.     Binding
Nature and Assignment

 

This
Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors, but it may not
be assigned by any party without the consent of the other. 

 

21.     Assignment 

 

Rights
and obligations of a party to this Agreement may not be assigned or transferred without the other party's prior written consent
thereto.

 

22.     Modification 

 

No
modification or amendment of this Agreement shall be valid unless it is in writing and signed by both parties hereto. 

 

    	13

    	 

    

23.     Complete Agreement 

 

This
Agreement constitutes the entire agreement between the parties and supersedes all prior agreements and understandings between
the parties.

 

24.     Waiver 

 

The
waiver by either party of a breach of any term of this Agreement shall not operate as, or be construed as, a waiver of any subsequent
breach.

 

25.     Headings 

 

The
headings in this Agreement are inserted for convenience only and shall not be considered in interpreting the provisions hereof.

 

26.     Counterparts 

 

This Agreement may
be executed in two or more counterparts, each of which shall be deemed an original but all of which together shall
constitute one and the same instrument.

 

 

 

 

 

(THIS
SPACE LEFT BLANK)

    	14

    	 

    

IN
WITNESS WHEREOF, this Agreement has been duly executed by the parties hereto by their respective officers thereunto duly authorized
by a majority of their directors as of the date first above written.

 

	 	EARTHBLOCK
TECHNOLOGIES INC. 
	 	 
	 	 
	 	By: 	/s/ Gregory
Pitner
	 	 	Gregory
Pitner, President

 

	 	EARTH
GEN-BIOFUEL INC.
	 	 
	 	 
	 	By: 	/s/ George
Shen
	 	 	George
Shen, President 

 

 

    	15

    	 

    

EXHIBIT A

 

 

AGREEMENT
OF EXCHANGE

OF

EARTHBLOCK
TECHNOLOGIES INC.

AND

EARTH
GEN-BIOFUEL INC.

 

 

AGREEMENT
OF EXCHANGE made as of the 25th day of September 2012, by and between EARTHBLOCK TECHNOLOGIES INC., a Nevada corporation (herein
"EBLC"), and EARTH GEN-BIOFUEL INC., a Nevada corporation (herein "GEN-BIOFUEL"). EBLC and GEN-BIOFUEL are
sometimes hereinafter collectively referred to as the "Constituent Corporations". 

 

RECITALS:

 

EBLC
is a Nevada corporation with authorized capital stock consists of 2,000,000,000 shares of common stock, $.001 par value (the "EBLC
Common Stock"), of which 101,965,018 shares of EBLC Common Stock were issued
and outstanding as of September 25, 2012 and 20,000,000 shares of EBLC Common Stock were reserved for issuance upon exercise of
any outstanding common stock purchase warrants or options. There are 65,000,000 shares of Common stock reserved for issue upon
the conversion of certain Convertible Notes. There are 10,000,000 shares of preferred stock, $.001 par value the "EBLC Preferred
Stock"), of which 2 shares of EBLC Series “A” Preferred Stock were issued and outstanding as of September 25,
2012 and no shares of EBLC Preferred Stock were reserved for issuance upon exercise of any outstanding preferred stock purchase
warrants or options.

 

GEN-BIOFUEL
is a Nevada corporation with authorized capital stock consists of 399,000,000 shares of common stock, $.0001 par value (the "GEN-BIOFUEL
Common Stock") of which 376,900,000 shares of GEN-BIOFUEL Common Stock were issued and outstanding as of September 25, 2012
and no shares of GEN-BIOFUEL Common Stock were reserved for issuance upon exercise of any outstanding common stock purchase warrants,
options or convertible securities. There are 1,000,000 Shares of Preferred stock $0.0001 par value authorized with no shares issued
or outstanding.

 

EBLC
and GEN-BIOFUEL have entered into an Agreement of Share Exchange and Plan of Reorganization dated September 25, 2012 (the "Reorganization
Agreement") setting forth certain representations, warranties, agreements and conditions in connection with the exchange provided
for herein. 

 

The
respective Board of Directors of EBLC and GEN-BIOFUEL have, by resolution, duly approved the execution of and the transaction contemplated
by the Reorganization Agreement and this Agreement of Exchange and directed that they be submitted to the shareholders of GEN-BIOFUEL
for adoption and approval.

 

    	1

    	 

    

NOW,
THEREFORE, in consideration of the premises and of the mutual covenants and agreements herein contained, the parties hereto have
agreed and do hereby agree, subject to the terms and conditions hereinafter set forth, as follows: 

 

I

EXCHANGE

 

1.1     In accordance with the provisions of this Agreement and Section 1(a) of Reorganization Agreement 376,900,000 shares of GEN-BIOFUEL
Common Stock outstanding as the Effective Date of the Exchange. One (1) share GEN-BIOFUEL shall be exchanged for four (4) shares
of EBLC Common Stock to be issued upon the Effective Date of the Exchange. EBLC shall be and is herein sometimes referred to as
the "Acquiring Corporation".

 

1.2     Upon the Effective Date of the Exchange (as defined in Article III hereof) GEN-BIOFUEL: (i) shall become a wholly-owned subsidiary
of EBLC, (ii) shall continue to possess all of its rights and property as constituted immediately prior to the Effective Date of
the Exchange, and (iii) shall continue subject to all of its debts and liabilities as the same shall have existed immediately prior
to the Effective Date of the Exchange. All rights of creditors and all liens upon the property of each of the Constituent Corporations
shall be preserved unimpaired. 

 

1.3     EBLC hereby agrees that at and after the time when the Exchange shall become effective and as and when required by the provisions
of the Reorganization Agreement, EBLC will issue certificates representing that number of shares of common stock, $.001 par value,
of EBLC (collectively, the "Exchange Shares") for which shares of GEN-BIOFUEL Common Stock issued and outstanding immediately
prior to the Effective Date of the Exchange will, as of the Effective Date of the Exchange and by virtue of the Exchange, be exchanged
as hereinafter provided. 

 

1.4     The Exchange shall not become effective until the following actions shall have been completed: (i) this Agreement of Exchange shall
have been adopted and approved by majority consent of the shareholders of GEN-BIOFUEL in accordance with the requirements of Nevada
corporate law; and (ii) all of the other conditions precedent to the consummation of the Exchange specified in the Reorganization
Agreement shall have been satisfied or duly waived by the party entitled to satisfaction thereof. 

 

II

EXCHANGE
OF SHARES

 

The
manner and basis of exchanging shares of GEN-BIOFUEL Common Stock for the Exchange Shares and the exchange of certificates therefore,
shall be as follows:

 

2.1     Each one (1) share of GEN-BIOFUEL Common Stock which shall be issued and outstanding immediately prior to the Effective Date of
the Exchange shall, by virtue of the Exchange and without any action on the part of the holder thereof other than that set forth
in the Reorganization Agreement, be exchanged at the Effective Date of the Exchange into Four (4) shares of the Exchange Shares,
as described in Exhibit 1 to this Agreement where the individual shareholders of GEN-BIOFUEL are listed with their number of GEN-BIOFUEL
Common Stock shares and the number of EBLC Common Stock shares they are to receive in the Exchange. If between the date hereof
and the Effective Date of the Exchange, EBLC or GEN-BIOFUEL shall either effect any reclassification, recapitalization, subdivision,
combination or exchange of shares, in respect of their respective outstanding common stock, or a stock dividend thereon shall be
declared with a record date within said period, the per share amounts of the Exchange Shares to be issued and delivered as provided
in this Agreement shall be appropriately adjusted. 

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2.2     After the Effective Date of the Exchange certificates evidencing outstanding shares of GEN-BIOFUEL Common Stock shall evidence
the right of the holder thereof to receive certificates for shares of the Exchange Shares at the applicable rate as aforesaid.
Each holder of GEN-BIOFUEL Common Stock, upon surrender of their certificates or by the instruction and confirmation by the CEO
of GEN-BIOFUEL shall receive the Exchange Shares and upon the issue of the Exchange Shares the exchange shall be deemed complete.
Certificate holders of GEN-BIOFUEL presenting certificates, which prior thereto represented shares of GEN-BIOFUEL Common Stock,
to EBLC's stock transfer agent, which shall act as the exchange agent (the "Exchange Agent") for such shareholder to
effect the exchange of certificates on their behalf, shall be entitled upon such surrender or upon the receipt of instruction of
the CEO of EBLC shall receive a certificate or certificates representing the number of whole shares of the Exchange Shares into
which the shares of GEN-BIOFUEL Common Stock theretofore represented by the certificate or certificates so surrendered or through
instruction of the CEO shall have been exchanged as aforesaid. Until so surrendered or the issue of Exchange Shares, each such
outstanding certificate for shares of GEN-BIOFUEL Common Stock shall be deemed for all corporate purposes, including voting rights,
subject to the future provisions of this Article II, to evidence the ownership of the shares of the Exchange Shares into which
such shares have been so exchanged. No dividends or distributions will be paid to persons entitled to receive certificates for
shares of the Exchange Shares pursuant hereto until such persons shall have surrendered their certificates which prior to the Effective
Date of the Exchange represented shares of GEN-BIOFUEL Common Stock; but there shall be paid to the record holder of each such
certificate, with respect to the number of whole shares of the Exchange Shares issued in exchange therefore (i) upon such surrender,
the amount of any dividends or distributions with a record date subsequent to the Effective Date of the Exchange and prior to surrender
which shall have become payable thereon once the Effective Date of the Exchange, without interest, and (ii) after such surrender,
the amount of any dividends thereon with a record date subsequent to the Effective Date of the Exchange and prior to surrender
and the payment date of which shall be subsequent to surrender; such amount to be paid on such payment date.

 

2.3     No certificate representing a fraction of a share of the Exchange Shares will be issued and no right to vote or receive any distribution
or any other right of a shareholder shall attach to any fractional interest in a share of the Exchange Shares to which any holder
of shares of GEN-BIOFUEL Common Stock would otherwise be entitled hereunder. In lieu thereof, each holder of shares of GEN-BIOFUEL
Common Stock entitled to a fraction of a share of the Exchange Shares shall receive one whole share of EBLC Common Stock if the
fraction of a share is equal to or greater than one-half share (.50); otherwise, the holder of the fraction of a share shall receive
no additional share.

 

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2.4     If any certificate for shares of the Exchange Shares is to be issued in a name other than that in which the certificate surrendered
in exchange therefore is registered, it shall be a condition of the issuance thereof that the certificate so surrendered shall
be properly endorsed and otherwise be in proper form for transfer and that the person requesting such exchange pay to the Exchange
Agent any transfer or other taxes required by reason of the issuance of a certificate for shares of the Exchange Shares in any
name other than that of the registered holder of the certificate surrendered, or establish to the satisfaction of the Exchange
Agent that such tax has been paid or is not payable. 

 

2.5     At the Effective Date of the Exchange, all shares of GEN-BIOFUEL Common Stock, which shall then be held in its treasury, if any,
shall cease to exist, and all certificates representing such shares shall be canceled. 

 

III

EFFECTIVE
DATE OF EXCHANGE; ABANDONMENT OF EXCHANGE

 

3.1     Subject to the provisions of this Article III, this Agreement shall be submitted to the shareholders of GEN-BIOFUEL as provided
in the Reorganization Agreement. If adopted and approved by the vote of the majority of shareholders of each of the Constituent
Corporations, if required by statute, and if all of the conditions precedent to the consummation of the Exchange specified in the
Reorganization Agreement shall have been satisfied or duly waived by the party entitled to satisfaction thereof, then unless terminated
as provided in this Article III, the Exchange Certificate shall be filed with Nevada. The Effective Date of the Exchange is the
date upon which a duly executed copy of the Exchange Certificate is filed with the appropriate office in Nevada. The date when
the Exchange shall become effective as aforesaid is herein called the "Effective Date of the Exchange".

 

3.2     This Agreement of Exchange may be terminated and the proposed Exchange abandoned at any time prior to the Effective Date of the
Exchange, and whether before or after approval of this Agreement of Exchange by the Board of Directors or shareholders of either
of the Constituent Corporations, in the manner provided in the Reorganization Agreement. 

 

IV

MISCELLANEOUS

 

4.1     For the convenience of the parties hereto and to facilitate the filing of this Agreement of Exchange, any number of counterparts
hereof may be executed; and each such counterpart shall be deemed to be an original instrument. 

 

4.2     At any time prior to the Effective Date of the Exchange the parties hereto may, by written agreement, (a) extend the time for the
performance of any of the obligations or other acts of the parties hereto, (b) waive (in the manner specified in Paragraph 16 of
the Reorganization Agreement) any breach or inaccuracy in the representations and warranties contained in this Agreement of Exchange
or in the Reorganization Agreement or in any document delivered pursuant thereto, or (c) waive (in the manner specified in Paragraph
15 of the Reorganization Agreement) compliance with any of the covenants, conditions or agreements contained in this Agreement
of Exchange or in the Reorganization Agreement.

 

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4.3     The corporation parties to this Agreement are also parties to the Reorganization Agreement. The two agreements are intended to
be construed together in order to effectuate their purposes, and said agreements are intended as a plan or reorganization within
the meaning of Section 368 of the Internal Revenue Code of 1954, as amended. 

 

IN
WITNESS WHEREOF, each of the undersigned corporations has caused this Agreement of Exchange to be signed in its corporate name
by its duly authorized officers and its corporate seal to be affixed hereto, all as of the date first above written. 

 

	 	EARTHBLOCK
TECHNOLOGIES INC. 
	 	 
	 	 
	 	By: 	/s/ Gregory
Pitner
	 	 	Gregory
Pitner, President

 

	 	EARTH
GEN-BIOFUEL INC.
	 	 
	 	 
	 	By: 	/s/ George
Shen
	 	 	George
Shen, President 

 

 

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EXHIBIT 1

 

SHAREHOLDERS
OF EARTH GEN-BIOFUEL INC.

APPROVAL
OF ACQUISITION BY EARTHBLOCK TECHNOLOGIES INC.

 

The Board
of Directors of Earthblock Technologies Inc. has unanimously approved the acquisition of a 100% interest in Earth Gen-Biofuel
Inc. and hereby request approval of at least 50.01% of the shareholders of record of Earth Gen-Biofuel Inc.

 

As of September
25, 2012 there are 371,100,000 shares issued and outstanding of Earth Gen-Biofuel Inc.

 

The following
people and entities, which represent a majority of the shareholders, hereby approve the transaction with Earthblock Technologies
Inc., and approve the terms and conditions of the Reorganization Agreement and the Exchange Agreement with Earthblock Technologies
Inc.

 

	Shareholder	Number of Shares	 	Signature	Date
	 	 	 	 	 
	George Shen	125,000,000	 	/s/ George Shen	 September 25, 2012
	Kote Chu	80,000,000	 	/s/ Kote Chu	 September 25, 2012
	Sean Kai Dan	65,000,000	 	/s/ Sean Kai Dan	 September 25, 2012
	Total Shares Approving	270,000,000	72.12%	 	 
	Total Shares Issued	371,100,000

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