Document:

exh10141510.htm

    Exhibit
10.1 Employment Agreement of Steve Marcum dated April 15, 2010

    

    EMPLOYMENT
AGREEMENT

    

    

    This EMPLOYMENT AGREEMENT
("Agreement") made and effective as of the 15th day of April, 2010, by and
between CITIZENS FIRST CORPORATION, a Kentucky corporation ("Employer"), and
STEVE MARCUM, an individual ("Marcum").

    WHEREAS, the parties desire to enter
into this Employment Agreement which shall supersede any prior Employment
Agreement in its entirety.

    NOW, THEREFORE, for and in
consideration of the mutual terms, conditions and benefits to be obtained by the
parties to this Employment Agreement, the receipt and sufficiency of which the
parties hereby acknowledge, Employer and Marcum agree as follows:

    1.           Employment.

    

    Employer hereby employs Marcum, and
Marcum hereby accepts employment with Employer, as Executive Vice President and
Chief Financial Officer of Employer and of the Bank. Such positions are
hereinafter collectively referred to as the "Position."

    2.           Term of
Employment.

    This Employment Agreement shall
commence on and be effective as of the 15th day of April, 2010 (the
"Commencement Date"), and continue through the 15th day of April, 2013, subject
to renewal and to termination in accordance with the terms of this Employment
Agreement.  This Employment Agreement shall automatically renew at the
end of the initial term and each subsequent term thereafter for a one year
period, unless either Employer or Marcum shall elect to terminate this
Employment Agreement by written notice to the other party hereto at least sixty
(60) days prior to the end of the respective term. Marcum's initial term of
employment and any subsequent renewal thereof shall hereinafter be referred to
as the "Term."  If this Employment Agreement is not renewed as
specified herein, all of Marcum's rights to compensation and fringe benefits
shall terminate at the end of the Term.

    

    
      
        
        

      

      
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         3.           Responsibilities in
Position.

    

    During his employment, except for
illness and reasonable vacation periods as hereinafter provided and reasonable
involvement in civic affairs and in organizations which benefit, promote or
complement the interests of Employer and the Bank, and except as otherwise
provided in this Employment Agreement, or as approved by the Board of Directors
of Employer, Marcum shall devote substantially all of his time, attention, skill
and efforts to the faithful performance of his duties hereunder and in the
Position, and shall use his best efforts, skill and experience to promote the
business, interests and welfare of Employer and the Bank. Marcum shall not,
without the consent

    of the
Board of Directors of Employer, be engaged in any other business activity,
whether or not such activity is pursued for gain, profit or pecuniary
advantage.

    4.           Specific Description of
Authority.

    Marcum shall have, exercise and carry
out the authorities, powers, duties and responsibilities conferred upon persons
occupying his position set forth herein consistent with the Bylaws and other
directives and any amendments thereto as they may occur from time to
time.  Marcum shall observe such directions and restrictions as the
Board of Directors of Employer and any Supervisor, consistent with the Board of
Directors and restrictions, may have conferred or imposed upon him. In the
absence of specific directions, Marcum shall have the following duties,
responsibilities and authorities with respect to Employer and the
Bank:

    
      
         

      

      
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    A.           He
shall discharge all duties customarily discharged by the Executive Vice
President and Chief Financial Officer and shall have powers and authorities
customarily conferred upon an individual holding such position and/or office,
subject to the policies and directions from time to time adopted or given by its
Board of Directors and/or his superiors consistent with the policies and
directions associated with the Board of Directors and the Employer.

    5.           Compensation.

    Marcum's salary shall be $152,500.00
annually and shall be paid in equal installments. The Compensation Committee of
the Employer's Board of Directors and Marcum may mutually agree to further
adjust the salary of Marcum during the Term of this Employment Agreement. Any
such additional adjustment of salary made during the Term of this Employment
Agreement shall be in the form of a duly adopted resolution of the Compensation
Committee of the Board of Directors.  Any purported Employment
Agreement for additional compensation or for an adjustment in compensation which
is not so evidenced by a written resolution of Employer's Compensation Committee
shall not be enforceable, and shall be of no force or effect
whatsoever.

    6.           Reimbursement.

    

    Employer will reimburse Marcum for all
reasonable and necessary expenses incurred by him in carrying out his duties
under this Employment Agreement; provided that such expenses shall be incurred
by him only pursuant to the policies and procedures of Employer, from time to
time in effect, and that all such expenses must be reasonable
and necessary expenses incurred by him solely for the purpose of carrying out
his duties under this Employment Agreement. Marcum shall present to Employer on
a monthly basis an itemized account of such expenses in such form as may be
required by Employer. Any such itemized account shall be subject to approval by
Employer.

    7.           Vacation and Sick
Leave.

    Marcum shall be entitled to four (4)
weeks of vacation annually. Marcum shall be responsible for arranging to have
other officers of Employer discharge his duties and responsibilities during any
vacation period. Vacation shall be taken only at those times during which such
vacation 

     

    
      
        
        

      

      
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    will be
calculated to cause a minimum of disruption in the business of Employer. At
least five (5) days of vacation must be taken consecutively each year. Unused
vacation time shall not accrue from year to year.

    Marcum shall additionally be entitled
to seven (7) days of paid sick leave annually except that if Marcum becomes
entitled to receive benefits under any disability policy provided by the
Employer, all rights to sick leave compensation shall end at that time. Sick
leave shall only be taken if Marcum is incapacitated by illness or injury from
performing his duties in the Position and shall not be utilized as additional
vacation time. Sick leave may be carried over from year to year, but Marcum
agrees that he will not be compensated for any unused sick leave upon
termination of this Employment Agreement.

        8.   Employee
Benefits.

    Marcum shall be entitled to participate
in all employee benefit programs as are conferred by Employer, from time to
time, upon its other executive officers, including the following:

    A.           The
right to participate in any health insurance program established by
Employer;

    B.           The
right to participate in any profit sharing plan, pension plan, or other
incentive program, retirement benefit plan or similar program established by
Employer; provided, that Marcum must be a "qualified participant," as defined in
the legal documentation establishing such plans;

    C.           The
right to participate in any life insurance plan, short-term disability plan, or
long-term disability plan established by Employer;

    9.           Annual
Evaluation.

    

    At least annually, Marcum shall receive
an evaluation measured by the Chief Executive Officer and/or as directed by the
Board of Directors, its adopted policies, and measured against specific goals
and objectives as established by the Employer and Chief Executive Officer
consistent with the employer’s directives.

    10.           Termination.

    

    Marcum may terminate his employment in
the Position, and this Employment

     

    
      
        
        

      

      
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     Agreement,
at any time during the Term, provided that he shall give to the Employer's Board
of Directors at least sixty (60) days prior written notice of such termination;
provided that Employer may, in its discretion, elect to accelerate the effective
date of any resignation, and the effective date of the termination of this
Employment Agreement, upon receipt of any such notice of termination. If Marcum
voluntarily terminates his employment in the Position and this Employment
Agreement at any time during the Term, then all rights to compensation and
fringe benefits shall terminate as of the effective date of such termination;
provided, however, that Marcum shall be entitled to receive payment for any
accrued vacation.

    The Employer's Board of Directors may
terminate Marcum's employment in writing for cause during the Term. If Marcum's
employment is terminated for cause, Marcum shall not be entitled to any further
compensation of any kind or nature whatsoever following written notice of such
termination.

    For purposes of this Paragraph,
termination "for cause" means that the Employer has determined in good faith
that Marcum has engaged in the following conduct:

    A.           Marcum
has appropriated to his personal use funds, rights or property of Employer or of
any of the customers of Employer;

    B.           Marcum
has misrepresented or engaged in any other act of substantial dishonesty in the
performance of his duties or responsibilities;

    C.           Marcum
has, in any substantial respects, failed to discharge his duties and
responsibilities in the Position, and fails or refuses to correct such failings
within thirty (30) days.  If receipt of written notice to him from the
Employer of the failings, which such notice shall specifically describe Marcum's
failings and the steps required to remedy same;

    D.           Marcum
is engaging in competition with Employer in any manner or in activities harmful
to the business of Employer;

    E.           Marcum
is using alcohol, drugs or similar substances in an illegal manner.

    F.           Marcum
has become “disabled,” as hereinafter defined in this Employment

     

    
      
        
        

      

      
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     Agreement;

    G.           Marcum
is convicted of a felony, or of a substantial misdemeanor involving moral
turpitude;

    H.           For
any reason, Employer or the Bank is unable to procure upon Marcum a substantial
fidelity bond, or a bonding company refuses to issue a bond to Employer or the
Bank if Marcum is employed in the Position;

    I.           Marcum
is guilty of gross professional misconduct, or of a gross breach of this
Employment Agreement of such a serious nature as would reasonably render his
service entirely unacceptable, or

    J.           The
issuance by any state or federal regulatory agency of a request or demand for
removal of Marcum from employment with the Employer or the Bank or from any
office which Marcum then holds with Employer or the Bank.  The termination of this Employment
Agreement for any reason shall operate as Marcum's automatic resignation from
all positions associated with the Employer and the Bank and any affiliate of the
Employer or the Bank.

    11.           Disability.

    

    Marcum shall be deemed to be "disabled"
or shall be deemed to be suffering from a "disability" under the provisions of
this Employment Agreement if a competent physician, acceptable to Marcum and
Employer, states in writing that it is such physician's opinion that Marcum will
be permanently (or for a continuous period of four (4) calendar months) unable
to perform a substantial number of the usual and customary duties of Marcum's
employment. In the event Marcum and Employer are unable to agree upon such a
suitable physician for the purposes of making such a determination, then Marcum
and Employer shall each select a physician, and such two physicians as selected
by Employer and Marcum shall select a third physician who shall make the
determination, and the determination made by such third physician shall be
binding upon Marcum and Employer. It is further agreed that if a guardian is
appointed for Marcum's person or a conservator or curator is 

     

    
      
        
        

      

      
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    appointed
for Marcum's estate, or he is adjudicated "incompetent" or is suffering or
operating under a mental "disability" by a court of appropriate jurisdiction,
then Marcum shall be deemed to be "disabled" for all purposes under this
Employment Agreement.  In the event Marcum becomes "disabled," then
his employment and all rights to compensation and fringe benefits shall
terminate effective as of the date of such disability
determination.

    12.           Death of Marcum.

    

    Marcum's death shall terminate the Term
and Marcum's employment and shall terminate all of Marcum's rights to all
salary, compensation and fringe benefits effective as of the date of such
death.

    13.           Duties Upon
Termination.

    

    Upon the termination of Marcum's
employment hereunder for any reason whatsoever (including but not limited to the
failure of the parties to renew this Employment Agreement pursuant to Section 2
hereof), Marcum shall promptly return to Employer any property of Employer or
its subsidiaries then in Marcum's possession or control, including without
limitation, any technical data, performance information and reports, sales or
marketing plans, documents or other records, computer programs, discs and any
other physical representations of any other information relating to Employer or
its subsidiaries. Marcum hereby acknowledges that any and all of such documents,
items, and information are and shall remain at all times the exclusive property
of Employer.

    14.           Faithfulness.

    

    Marcum shall diligently employ himself
in the Position and in the business of Employer and shall be faithful to
Employer in all transactions relating to it and its business and shall give,
whenever required, a true account to the Employer's Board of Directors of all
business transactions arising out of or connected with Employer and its
business. Marcum shall keep Employer's Board of Directors fully informed of all
work for and transactions on behalf of Employer. He shall not, except in
accordance with regular policies of the Board of Directors from time to time in
effect, borrow money in the name of Employer, use collateral owned by Employer
as security for

     

    
      
        
        

      

      
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    loans or
lease or dispose of or in any way deal with any of the property, assets or
interests of Employer other than in connection with the proper conduct of the
business of Employer.

    15.           Nonassignability.

    

    Neither this Employment Agreement, nor
any rights or interests hereunder, shall be assignable by Employer, or by
Marcum, his beneficiaries or legal representatives, without the prior written
consent of the other party. All services to be performed hereunder by Marcum
must be personally performed by him.

    16.           Consolidation.

    

    Merger or Sale of Assets. Nothing in
this Employment Agreement shall preclude Employer from consolidating or merging
into or with, or transferring all or substantially all of its assets to, another
bank or corporation. Upon such a consolidation, merger or transfer of assets,
the successor to Employer or to all or substantially all of Employer's business
and/or assets shall be obligated to assume the obligations of Employer under
this Employment Agreement and the term "Employer," as used herein, shall mean
such other bank or corporation, as the case may be, and this Employment
Agreement shall continue in full force and effect.

    17.           Binding Effect.

    

    This Employment Agreement shall be
binding upon, and shall inure to the benefit of Employer and its successors and
assigns, and Marcum and his heirs, executors, administrators and personal
representatives.

    18.           Amendment of Employment
Agreement.

    

    This Employment Agreement may not be
amended or modified

    except by
an instrument in writing signed by the parties hereto.

    

    19.           Waiver.

    

    No term or condition of this Employment
Agreement shall be deemed to have been waived, nor shall there be any estoppel
against the enforcement of any provision of this Employment Agreement, except by
written instrument of the party charged with such waiver or estoppel. No such

     

    
      
        
        

      

      
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    written
waiver shall be deemed to be a continuing waiver unless specifically stated
therein, and each such waiver shall operate

    only as
to the specific term or condition waived, and shall not constitute a waiver of
such term or condition in the future or as to any act other than that
specifically waived.

    20.           Severability.

    If for any reason any provision of this
Employment Agreement is held invalid, such invalidity shall not affect any other
provision of this Employment Agreement not held invalid, and each such other
provision shall, to the full extent consistent with law, continue in full force
and effect. If any provisions of this Employment Agreement shall be invalid in
part, such partial invalidity shall in no way affect the rest of such provision
not held invalid, and the rest of such provision, together with all other
provisions of this Employment Agreement, shall, to the extent consistent with
law, continue in full force and effect.

    21.           Trade Secrets.

    Marcum shall not, at any time or in any
manner, either directly or indirectly, divulge, disclose or communicate to any
person, firm or corporation, in any manner whatsoever, any information
concerning any matters affecting or relating to Employer or the Bank, including,
without limiting the generality of the foregoing, any information concerning any
of its customers, its manner of operation, its plans, process or other data,
without regard to whether all or any part of the foregoing matters will be
deemed confidential, material or important, as the parties hereto stipulate that
as between them, the same are important, material and confidential and gravely
affect the effective and successful conduct of the business and goodwill of
Employer and the Bank, and that any breach of the terms of this Paragraph shall
be a substantial and material breach of this Employment Agreement. All terms of
this Paragraph shall remain in full force and effect after the termination of
Marcum's employment and of this Employment Agreement.

    Marcum acknowledges that it is
necessary and proper that Employer preserve and protect its proprietary rights
and unique, confidential and special information and goodwill, and
the

     

    
      
        
        

      

      
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     confidential
nature of its business and of the affairs of its and the Bank's customers, and
that it is therefore appropriate that Employer prevent Marcum from engaging in
any breach of the provisions of this Paragraph. Marcum, therefore, agrees that a
violation by Marcum of the terms of this Paragraph would result in irreparable
and continuing injury to Employer, for which there might well be no adequate
remedy at law. Therefore, in the event Marcum shall fail to comply with the
provisions of this Paragraph, Employer shall be entitled to such injunctive and
other relief as may be necessary or appropriate to cause Marcum to comply with
the provisions of this Paragraph, and to recover, in addition to such relief,
its reasonable costs and attorney's fees incurred in obtaining same. Such right
to injunctive relief shall be in addition to, and not in lieu of, such rights to
damages or other remedies as Employer shall be entitled to receive.

    22.           Covenant Not to
Compete.

    Should this Employment Agreement be
terminated for any reason by Marcum during the Term, Marcum covenants and agrees
that he will not, for a period of six (6) months following the date of
termination of the Employment Agreement:

    A.           directly
or indirectly engage or participate in the operation of a banking institution or
enter the employ of, or render any personal services to, or receive remuneration
in the form of salary, commissions or otherwise, from any business operating a
banking institution within the geographical limits of Barren, Hart, Simpson, and
Warren Counties in Kentucky and all other counties adjoining Warren County,
Kentucky;

    B.           offer
employment to, hire, solicit, divert or appropriate to himself or any other
person, any business or services of any person who was an employee or an agent
of Employer or the Bank at any time during the last twelve (12) months of
Marcum's employment hereunder; or

    C.           contact
or communicate by any means either for himself or on behalf of any other person,
any existing or prospective customer of Employer or the Bank on the date of
Marcum's termination for the purpose of soliciting, offering or doing any type
of business or services similar in nature to the business of Employer or the
Bank.  Marcum acknowledges that his breach of any

     

    
      
        
        

      

      
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     covenant
contained in this Section 22 will result in irreparable injury to Employer and
its subsidiaries and that the remedy at law of such parties for such a breach
will be inadequate. Accordingly, Marcum agrees and consents that Employer and
its subsidiaries shall be entitled to seek both preliminary and permanent
injunctions to prevent and/or halt a breach or threatened breach by Marcum of
any covenant contained in this Section 22.  If any provision of this
Section 22 is invalid in part or in whole, it shall be deemed to have been
amended, whether as to time, area covered or otherwise, as and to the extent
required for its validity under applicable law and, as so amended, shall be
enforceable.

    23.           Withholding.

    Employer shall have the right to
withhold from the compensation payable to Marcum hereunder any amounts required
by law to be withheld.

    24.           Entire Employment
Agreement.

    This Employment Agreement contains the
entire Employment Agreement between the parties with respect to Marcum's
employment by Employer and the Bank.  Each of the parties acknowledges
that the other party has made no agreements or representations with respect to
the subject matter of this Employment Agreement other than those hereinabove
specifically set forth in this Employment Agreement.

        25.           Governing Law.

    This
Employment Agreement is executed and delivered in, and shall be governed by,
enforced and interpreted in accordance with the laws of, the Commonwealth of
Kentucky.

    IN WITNESS WHEREOF, the parties hereto
have executed this Employment Agreement as of the day and year first above
written.

    /s/Steve Marcum

    ________________________________

    STEVE MARCUM

    

    

    CITIZENS FIRST
CORPORATION

    

    
      
        
        

      

      
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    BY:/s/ Todd
Kanipe

    TITLE: President and Chief Executive
Officer

                                             

                                                               

    

                                  12ex4a.htm

ARTICLES OF INCORPORATION

OF

SUBPRIME ADVANTAGE, INC.

KNOW ALL MEN BY THESE PRESENTS:

 

That the undersigned, being at least eighteen (18) years of age and acting as the incorporator of the Corporation hereby being formed under and pursuant to the laws of the State of Nevada, does hereby certify that:

 

Article I - NAME

 

The exact name of this corporation is:  SUBPRIME ADVANTAGE, INC.

 

Article II - REGISTERED OFFICE AND RESIDENT AGENT

 

The registered office and place of business in the State of Nevada of this corporation shall be located at 9850 S. Maryland Pkwy, Suite 197, Las Vegas, NV 89183.  The resident agent of the corporation is SLI, whose address is 9850 S. Maryland Pkwy, Suite 197, Las Vegas, NV 89183.

 

Article III - DURATION

 

The Corporation shall have perpetual existence.

 

Article IV - PURPOSES

 

The purpose, object and nature of the business for which this corporation is organized are:

 

(a)  To engage in any lawful activity, (b) To carry on such business as may be necessary, convenient, or desirable to accomplish the above purposes, and to do all other things incidental thereto which are not forbidden by law or by these Articles of Incorporation.

 

Article V - POWERS

 

This Corporation is formed pursuant to Chapter 78 of the Nevada Revised Statutes.  The powers of the Corporation shall be those powers granted by 78.060 and 78.070 of the Nevada Revised Statutes under which this corporation is formed.  In addition, the corporation shall have the following specific powers:

 

(a)  To elect or appoint officers and agents of the corporation and to fix their compensation; (b)  To act as an agent for any individual, association, partnership, corpora­tion or other legal entity; (c)  To receive, acquire, hold, exercise rights arising out of the ownership or possession thereof, sell, or otherwise dispose of, shares or other interests in, or obligations of, individuals, association, partnerships, corporations, or governments; (d)  To receive, acquire, hold, pledge, transfer, or otherwise dispose of shares of the corporation, but such shares may only be purchased, directly or indirectly, out of earned surplus;  (e)  To make gifts or contributions for the public welfare or for charitable, scientific or educational purposes.

 

Article VI - CAPITAL STOCK

 

Section 1.  Authorized Shares.  The total number of shares which this corporation is authorized to issue is 100,000,000 shares of Common Stock of $.001 par value. The authority of the Corporation to issue non-voting convertible and/or non-voting non-convertible preferred shares together with additional classes of shares may be limited by resolution of the Board of Directors of the Corporation.

 

Section 2.  Voting Rights of Stockholders.  Each holder of the Common Stock shall be entitled to one vote for each share of stock standing in his name on the books of the corporation.

 

Section 3.  Consideration for Shares.  The Common Stock shall be issued for such consideration, as shall be fixed from time to time by the Board of Directors.  In the absence of fraud, the judgment of the Directors as to the value of any property or services received in full or partial payment for shares shall be conclusive.  When shares are issued upon payment of the consideration fixed by the Board of Directors, such shares shall be taken to be fully paid stock and shall be non-assessable.  The Articles shall not be amended in this particular.

 

Section 4.  Stock Rights and Options.  The corporation shall have the power to create and issue rights, warrants, or options entitling the holders thereof to purchase from the corporation any shares of its capital stock of any class or classes, upon such terms and conditions and at such times and prices as the Board of Directors may provide, which terms and conditions shall be incor­porated in an instrument or instruments evidencing such rights.  In the absence of fraud, the judgment of the Directors as to the adequacy of consideration for the issuance of such rights or options and the sufficiency thereof shall be conclusive.

 

Article VII - MANAGEMENT

 

For the management of the business, and for the conduct of the affairs of the corporation, and for the future definition, limitation, and regulation of the powers of the corporation and its directors and stockholders, it is further provided:

 

Section 1.  Size of Board.  The initial number of the Board of Directors shall be one (1).  Thereafter, the number of directors shall be as specified in the Bylaws of the corporation, and such number may from time to time be increased or decreased in such manner as prescribed by the Bylaws.  Directors need not be stockholders.

 

Section 2.  Powers of Board.  In furtherance and not in limitation of the powers conferred by the laws of the State of Nevada, the Board of Directors is expressly authorized and empowered:

 

(a)  To make, alter, amend, and repeal the Bylaws subject to the power of the stockholders to alter or repeal the Bylaws made by the Board of Directors;

 

(b)  Subject to the applicable provisions of the Bylaws then in effect, to determine, from time to time, whether and to what extent, and at what times and places, and under what conditions and regulations, the accounts and books of the corporation, or any of them, shall be open to stockholder inspection.  No stockholder shall have any right to inspect any of the accounts, books or documents of the corporation, except as permitted by law, unless and until authorized to do so by resolution of the Board of Directors or of the stockholders of the Corporation;

 

(c)  To authorize and issue, without stockholder consent, obligations of the Corporation, secured and unsecured, under such terms and conditions as the Board, in its sole discretion, may determine, and to pledge or mortgage, as security therefore, any real or personal property of the corporation, including after-acquired property;

 

(d)  To determine whether any and, if so, what part of the earned surplus of the corporation shall be paid in dividends to the stockholders, and to direct and determine other use and disposition of any such earned surplus;

 

(e)  To fix, from time to time, the amount of the profits of the corporation to be reserved as working capital or for any other lawful purpose;

 

(f)  To establish bonus, profit-sharing, stock option, or other types of incentive compensation plans for the employees, including officers and directors, of the corporation, and to fix the amount of profits to be shared or distributed, and to determine the persons to participate in any such plans and the amount of their respective participations.

 

(g)  To designate, by resolution or resolutions passed by a majority of the whole Board, one or more committees, each consisting of two or more directors, which, to the extent permitted by law and authorized by the resolution or the Bylaws, shall have and may exercise the powers of the Board;

 

(h)  To provide for the reasonable compensation of its own members by Bylaw, and to fix the terms and conditions upon which such compensation will be paid;

 

(i)  In addition to the powers and authority hereinbefore, or by statute, expressly conferred upon it, the Board of Directors may exercise all such powers and do all such acts and things as may be exercised or done by the corporation, subject, nevertheless, to the provisions of the laws of the State of Nevada, of these Articles of Incorporation, and of the Bylaws of the corporation.

 

Section 3.  Interested Directors.  No contract or transac­tion between this corporation and any of its directors, or between this corporation and any other corporation, firm, association, or other legal entity shall be invalidated by reason of the fact that the director of the corporation has a direct or indirect interest, pecuniary or otherwise, in such corporation, firm, association, or legal entity, or because the interested director was present at the meeting of the Board of Directors which acted upon or in reference to such contract or transaction, or because he participated in such action, provided that:  (1)  the interest of each such director shall have been disclosed to or known by the Board and a disinterested majority of the Board shall have, nonetheless, ratified and approved such contract or transaction (such interested director or directors may be counted in determining whether a quorum is present for the meeting at which such ratification or approval is given); or (2) the conditions of N.R.S. 78.140 are met.

 

Section 4.  Name and Address.  The name and post office address of the first Board of Directors which shall consist of one (1) person who shall hold office until his successors are duly elected and qualified, are as follows:

 

NAME                                                             ADDRESS

       Molly Country                                                      501 W. Broadway

Suite A-323

San Diego, CA 92101

Article VIII - PLACE OF MEETING; CORPORATE BOOKS

 

Subject to the laws of the State of Nevada, the stockholders and the directors shall have power to hold their meetings, and the directors shall have power to have an office or offices and to maintain the books of the Corporation outside the State of Nevada, at such place or places as may from time to time be designated in the Bylaws or by appropriate resolution.

 

Article IX - AMENDMENT OF ARTICLES

 

The provisions of these Articles of Incorporation may be amended, altered or repealed from time to time to the extent and in the manner prescribed by the laws of the State of Nevada, and additional provisions authorized by such laws as are then in force may be added.  All rights herein conferred on the directors, officers and stockholders are granted subject to this reservation.

 

Article X - INCORPORATOR

 

The name and address of the incorporator signing these Articles of Incorporation are as follows:

 

NAME                                                      POST OFFICE ADDRESS

     Molly Country                                                        501 W. Broadway

Suite A-323

San Diego, CA 92101

Article XI - LIMITED LIABILITY OF OFFICERS AND DIRECTORS

 

Except as hereinafter provided, the officers and directors of the corporation shall not be personally liable to the corporation or its stockholders for damages for breach of fiduciary duty as a director or officer.  This limitation on personal liability shall not apply to acts or omissions which involve intentional misconduct, fraud, knowing violation of law, or unlawful distributions prohibited by Nevada Revised Statutes Section 78.300.

 

Article XII – TRANSACTIONS WITH STOCKHOLDERS

 

Section 1.                      CONTROL SHARE ACQUISITION EXEMPTION. The corporation elects not to be governed by the provisions of NRS.§78.378 to NRS.§78.3793 generally known as the “Control Share Acquisition Statute” under the Nevada Business Corporation Law, which contains a provision governing “Acquisition of Controlling Interest.”

 

Section 2.                      COMBINATIONS WITH INTERESTED STOCKHOLDERS. The corporation elects not to be governed by the provisions of NRS §78.411 through NRS §78.444, inclusive, of the Nevada Business Corporation Law.

IN WITNESS WHEREOF, the undersigned incorporator has executed these Articles of Incorporation this 16th day of December, 2009.

/s/ Molly Country

                                                                         Molly Country

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