Document:

ex10.12

  
 THIS AMENDING AGREEMENT made and dated for reference the _____ day of February, 2012.
 

 BETWEEN:
 

 BIOSHAFT WATER TECHNOLOGY, INC.
 (the “Company”)
 

 AND:
 

 PREMIER FINANCIAL MARKETING CO. LTD. 
 (the “Note Holder”)
 

 WHEREAS:
 

 A.
 Effective April 11, 2008, the Company and the Note Holder entered into a 15% Loan Agreement (the “Loan Agreement”) and Promissory Note (the “Note”) in the amount of $500,000 due August 11, 2009 (the “Loan”);
 

 B.
 The Company and the Note Holder wish to amend the terms of the Loan to provide for a conversion feature; and
 

 C.
 The parties wish to amend the Loan Agreement in respect of the foregoing. 
 

 NOW THEREFORE THIS AMENDING AGREEMENT WITNESSETH that in consideration of these premises and for other good and valuable consideration, the receipt and sufficiency of which is also hereby acknowledged by each of the parties hereto, the parties hereto hereby agree as follows:
 

 1.
 All capitalized terms not otherwise defined herein shall have the meanings set out in the Loan Agreement.
 

 2.
 Section 2.8 and Section 2.9 of the Loan Agreement are hereby added to the Loan Agreement:
 Section 2.8 
 

 At any time after the Closing of the Loan, if the Borrower has not paid the Loan in full, the Lender may by providing written notice (the “Notice”) and the Declaration attached hereto as Schedule A to the Borrower, exercise its rights of Conversion in respect of either a portion of or the total outstanding amount of the Loan plus accrued Interest as of that date into Shares of common stock (the “Shares”) of the Company (the “Conversion Right”), on the following terms:
 

 (a)
 The number of Shares issuable under the Conversion Right (the "Conversion Rate") shall be determined by dividing (x) that portion of the outstanding principal balance under the Loan and accrued and unpaid Interest on such date that the Lender elects to convert by (y) the Conversion Price (as defined below) then in effect on the date on which the Lender faxes the Notice of conversion, duly executed, to the Company (facsimile number __________________, Attn.: President) (the “Conversion Date”).  With respect to partial conversions of this Loan, the Borrower shall keep written records of the amount of this Loan converted as of each Conversion Date.
 

 
 

 (b)
 The term "Conversion Price" shall mean $0.025 per Share.
 

 Within seven (7) days of Notice by the Lender exercising its Conversion Rights hereunder, the Company shall deliver a Share Certificate to the Lender representing the number of Shares acquired by the Lender pursuant to the Conversion Rate set out in subparagraph 2.8 of this Agreement.
 

 Notwithstanding any of the foregoing, Interest shall be calculated and included in any Conversion of the Loan.
 

 Section 2.9
 

 In order to ensure eligibility to receive the Shares, the Borrower must provide the Declaration attached hereto as Schedule A upon providing Notice.
 

 3.
 In all other respects the terms and conditions of the Debenture shall continue in full force and effect.
 

 4.
 Each of the parties hereto agrees to do and/or execute all such further and other acts, deeds, things, devices, documents and assurances as may be required in order to carry out the true intent and meaning of this Amending Agreement.
 

 5.
 This Amending Agreement shall enure to the benefit of and be binding upon the parties hereto and each of their successors and permitted assigns, as the case may be.
 

 6.
 This Amending Agreement may be executed in any number of counterparts and any party hereto may execute any counterpart, each of which when executed and delivered will be deemed to be an original and all of which counterparts taken together will be deemed to be one and the same instrument.  The execution of this Amending Agreement will not become effective until all counterparts hereof have been executed by all of the parties hereto.
 

 7.
 Each of the parties hereto will be entitled to rely upon delivery by facsimile of executed copies of this Amending Agreement, and such facsimile copies will be effective to create a valid and binding Agreement among the parties hereto in accordance with the terms and conditions of this Amending Agreement.
 

 

 

 

 

 

 

 

 

 2
 

 
 

 IN WITNESS WHEREOF this Amending Agreement has been executed and delivered as of the day and year first above written.
 

 

 BIOSHAFT WATER TECHNOLOGY, INC.
 

 

 Per: ____
 

 

 PREMIER FINANCIAL MARKETING CO. LTD. 
 

 Per: ____
 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 3
 

 
 

 Schedule A
 

 DECLARATION OF REGULATION S ELIGIBILITY
 

 Regulation S of the Securities Act is available for the use of non-U.S. Persons only.  This Declaration must be answered fully and returned to BIOSHAFT WATER TECHNOLOGY INC. with your subscription agreement to ensure the Company is in compliance with the Securities Act.  All information will be held in the strictest confidence and used only to determine investor status.  No information will be disclosed other than as required by law or regulation, other demand by proper legal process or in litigation involving the company or its affiliates, controlling persons, officers, directors, partners, employees, attorneys or agents.
 

 I, _________________________________, HEREBY AFFIRM AND DECLARE THAT:
 

 1.
 I am not a resident of the United States of America.
 

 2.
 I am not purchasing securities for the benefit of a resident of the United States of America.
 

 3.
 I am not purchasing securities in the name of a company incorporated in the United States of America or for the benefit of a company incorporated in the United States of America.
 

 4.
 I am not purchasing securities in my capacity as Trustee for a U.S.-based Trust.
 

 5.
 I am not purchasing securities in my capacity as the Executor or Administrator of the Estate of a U.S. resident.
 

 6.
 I am not a U.S. resident purchasing securities through a brokerage account located outside of the United States of America, nor am I using a non-U.S. brokerage account to purchase securities for the benefit of individuals or corporate entities resident within the United States of America.
 

 7.
 I am not purchasing the securities in an attempt to create or manipulate a U.S. market.
 

 8.
 I am purchasing the securities as an investment and not with a view towards resale.
 

 9.
 I will only resell the securities to other non-U.S. residents in accordance with Rule 905 of Regulation S, or to U.S. residents in accordance with the provisions of Rule 144 following the expiration of one year from the date of acquiring the securities.
 

 10.
 I am permitted to purchase the securities under the laws of my home jurisdiction.
 

 11.
 I understand that if I knowingly and willingly make false statements as to my eligibility to purchase or resell securities under Regulation S, I may become subject to civil and criminal proceedings being taken against me by the United States Securities and Exchange Commission.
 

 	 	
	 

 DATED: _______________________, 20____
	 __________________________________
Signature

	  
	 __________________________________
Print Name

 

 

 4ex10.14

 

  
  
 

 May 1, 2012
 

 Bioshaft Water Technology Inc.
 1 Orchard Dr., Suite 220
 Lake Forest, CA, 92630
 

 

 	 	
	 RE:
	 CONSULTING AGREEMENT BETWEEN

	  
	 BIOSHAFT WATER TECHNOLOGY INC. (the “Company”)

	  
	 AND SUSTAINABLE WATER CORP. (the “Consultant”)

	  
	  

 

 Further to the discussion between Bioshaft Water Technology Inc. and Sustainable Water Corp.,  below  are  the  terms  of  the  agreement  between  the  Company  and  the consultant engaging as a COO and CFO, Consultant.
 

 AGREEMENT
 

 DATED on this 1st. day of May, 2012 by Bioshaft Water Technology Inc. a State of Nevada Corporation with offices in Lake Forest, CA (the “Company”) and Sustainable Water Corp. a State of California Corporation with offices in San Pedro, CA (the “Consultant”).
 

 CONSULTING SERVICES
 

 A.) The Company hereby retains the services of the Consultant to render corporate operation, financial management, and strategic planing support in the form of:
 

 1.
 Support in developing a strategic plan for operation, new products and market.
 2.
 Support in negotiating and formulating contracts and agreements with new agents, licensees, and other forms of business relationships for new business development. 
 3.
 Act as the Chief Engineer while providing engineering services to support Operation.
 4.
 Source out contractors to build treatment systems upon execution of sales contracts.
 5.
 Meet with Municipalities to demonstate the Bioshaft Water Treatment systems.
 

 Bioshaft Water Technology Inc.
 1 Orchard Dr. #220, Lake forest, CA 92630
 

 
 

  
 

 B.) The Consultant hereby accepts such retention on the terms and conditions herein set forth and agree to use their best efforts to perform these services at the request of the Company.
 

 C.) The Consultant shall not be required to devote any minimum or specific expenditure of time  in  performing  these  services,  provided  that  the  Consultant  shall  be  reasonably accessible to the Company and shall devote such efforts to the effective performance of such services as may be commensurate therewith.
 

 TERM
 

 The term of this Agreement shall be through October 31, 2012.
 

 After October 31, 2012, this Agreement can be terminated with 30 days written notice by either party.
 

 COMPENSATION
 

 In full consideration and compensation for the consulting services to be rendered to the Company by the Consultant, the Consultant shall be remunerated as follows (all figures are in US dollars )
 

 1.   The Company shall pay the Consultant Fifteen thousand dollars ($15,000.00) for the services rendered by the Consultant on the Company’s behalf.
 

 2.   The Fifteen thousand dollars ($15,000.00) is payable on the execution of the contract and every thirty days afterward.
 

 EXPENSES
 

 The compensation includes reasonable expense in connection with the services stated above, including but not limited to: telephone, facsimile, postage, photocopying, travel and courier expenses. The Company agrees to reimburse the Consultant for special pre-approved travel expenses for marketing, training or special projects.
 

 

 

 Bioshaft Water Technology Inc.
 1 Orchard Dr. #220, Lake forest, CA 92630
 

 
 

  
  
 
 COMPANY’S OBLIGATIONS
 

 The  Company  shall  make  available  to  the  Consultant  all  information  concerning  the business, assets, operations and financial condition of the Company, which the Consultant reasonably requests in connection with the performance of its obligations.  The Consultant may rely on the accuracy of all such information without independent verification.
 

 CONFIDENTIALITY
 

 The Consultant hereby agrees to maintain in the strictest confidence all such information provided to it by the Company, provided that such information is first identified by the Company as confidential information.
 

 INDEMNIFICATION
 

 The Company shall indemnify and hold harmless the Consultant against any and all loss, liability, damage, cost or expense arising out of any claim or lawsuit, actual or threatened, which  the  Consultant  may  suffer,  sustain  or  become  subject  to,  as  a  result  of,  or  in connection with, the performance of their obligations under this Agreement, except for any loss,  liability  or  expense  which  is  suffered  as  the  result  of,  or  in  connection  with,  the Consultant’s  willful  misconduct,  provided  that  the  Consultant  shall  give  prompt  written notice to, and shall cooperate with and render assistance to, the Company regarding any such claim or lawsuit, and provided further the Company shall have the option to undertake and conduct the defense of any such claim or lawsuit.
 

 ENTIRE AGREEMENT
 

 This  Agreement  constitutes  the  entire  Agreement  between  the  parties  and  replaces  all previous  agreements,  written  or  oral  between  the  parties.   This  agreement  can  only  be amended in writing and both parties must sign all amendments.
 

 Please indicate acceptance of these terms by signing below where indicated.
 

 	 	
	 Bioshaft Water Technology, Inc.
	 Sustainable Water Corp.

	  
	  

	 /s/ Walter J. Zurawick, Jr.
	 /s/ Imad Yassine

	 May 1, 2012
	 May 1, 2012

	  
	  

	 Walter J. Zurawick Jr., CEO
	 Imad Yassine, CEO

 

 Bioshaft Water Technology Inc.
 1 Orchard Dr. #220, Lake forest, CA 92630

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