Document:

Colmena Corp.
                            A publicly held Delaware
                                   corporation
                              (Stock Symbol "CLME")

                               www.colmenacorp.com

Anthony Q. Joffe
President & Chief Executive Officer

Vanessa H. Lindsey
Vice President, Secretary & Chief Administrative Officer

Adam Wasserman
Treasurer & Chief Financial Officer

Anthony Q. Joffe; Edward C. Dmytryk, G. Richard Chamberlin;
Lawrence R. Van Etten;  Vanessa H. Lindsey; Robert S. Gigliotti
-----------------
Board of Directors

                       Administrative & Executive Offices

                               101 SW 11th Avenue
                            Boca Raton, Florida 33486
                    (561) 392-6010 email: joffe@bellsouth.net

October 15, 2003
Mr. Jeff Foss, CEO
National ComTel Network Inc.
18340 Ventura Blvd., Suite 218
Tarzana, CA 91357

By facsimile transmission to 818-776-9770

         Re:      Potential Reorganization with Colmena Corp.

Dear Mr. Foss:

         This letter of intent confirms the status of negotiations concerning a
proposed transaction between Colmena Corp., a Delaware corporation with a class
of securities registered under Section 12(g) of the Securities Exchange Act of
1934, as amended ("Colmena" and the "Exchange Act," respectively), and National
ComTel Network Inc. ("National ComTel"), a corporation organized and operating
under the laws of the State of California.

         This letter of intent with National ComTel is non-exclusive since
Colmena may be negotiating a potential reorganization with other companies as
well. In the event that Colmena and National ComTel sign the definitive
Agreements contemplated by this letter, however, Colmena will immediately
withdraw from further negotiations with all other companies.

         National ComTel is engaged in the business of providing a complete line
of telecommunications services to business and residential users, as more
particularly described at its website located at www.NationalComTel.com, and has
plans to materially expand through sales development, contractual opportunities
with communications technology suppliers, and potential acquisitions.

         If the following comports with your understanding of the proposed
transaction, please sign a copy of this letter and return it to us by facsimile
transmission followed by hard copy, whereupon this letter will constitute a
binding agreement by each of the undersigned to use our best efforts to effect
the contemplated transaction at the earliest practicable time, subject to due
diligence review and good faith negotiations by our respective representatives.
It will also constitute a direction by the undersigned, on behalf of their
organizations, to Kevin W. Dornan, Esquire, as legal counsel to Colmena ("Mr.
Dornan"), and legal counsel designated by National ComTel and its securities
holders to immediately commence preparation of required documentation,
including, without limitation, an acquisition agreement (the "Acquisition
Agreement") and employment or consulting agreements for all National ComTel
executive officers who do not currently have such agreements and who are deemed
essential by Colmena (generically hereinafter referred to as the "Employment
Agreements").

         It is anticipated that Mr. Dornan will prepare the initial drafts of
the Acquisition Agreement and the Employment Agreements and that legal counsel
designated by National ComTel and the National ComTel securities holders will
review them and propose required modifications, if any (the foregoing
agreements, all exhibits required therefor and all instruments,

<PAGE>

certificates,  resolutions,  opinions, etc. called for thereby being hereinafter
collectively referred to as the "Agreements" or generically as an "Agreement").

         Upon presentation of drafts of the Agreements, National ComTel will
review them with its legal counsel and other advisors whereupon, we will all use
our best efforts to promptly negotiate acceptable revisions thereto, provided
that, with reference to any comments on the Agreements, the commenting party
must propose specifically worded alternatives which, if accepted by the other
party, will constitute the Agreement or Agreements to be used for purposes of
the proposed transaction, subject to satisfactory due diligence reviews.

         National ComTel agrees to provide Colmena with completed independent
audits of its financial statements for the fiscal years ended September 30, 2003
and 2002 (which time periods conform to Colmena's fiscal year end), and (if
required) with reviewed quarterly financial statements for all quarters ended
during the interim between October 1, 2003 and the closing on the proposed
acquisition (collectively hereinafter referred to as the "Audits"). All such
financial statements will comply with the audit requirements of Regulation SB
promulgated by the United States Securities and Exchange Commission. The parties
further agree to use their best efforts to complete the related due diligence
review in time to permit them to sign the Acquisition Agreement on or about
November 15, 2003, with closing to take place as soon after December 31, 2003 as
is practicable, and as specified in the Acquisition Agreement.

         A party may withdraw from this Letter Agreement in the event mutually
acceptable terms cannot be agreed upon in good faith as contemplated above, if
due diligence reveals the inaccuracy of any material representations, or if
National ComTel is unable to comply with the requirements of Regulation SB and
the parties are unable, after reasonable efforts, to obtain Commission consent
to an exemption from such requirements for all purposes pertaining to Colmena's
reporting obligations under the Exchange Act. Colmena may also withdraw from
this Letter Agreement if it enters into definitive agreements with another
company prior to finalizing the Agreements with National ComTel.

OUTLINE OF PROPOSED TRANSACTIONS

1. A. National ComTel and its affiliates will consolidate all current related
business enterprises permitting consolidation of their financial statements
pursuant to generally accepted accounting principles, consistently applied
("GAAP"), the resulting consolidated entity being hereinafter referred to as
"National ComTel Group."

         B. At closing, National ComTel Group will have no related party loans
and its aggregate liabilities will not exceed $750,000 (including its SBA loan
in the amount of approximately $650,000).

2. National ComTel has represented to Colmena (subject to current review by the
accountants for National ComTel) that during the period from January 1, 2003
until June 30, 2003, on an a pro forma, accrued basis in accordance with GAAP,
National ComTel Group's:

<PAGE>

         A. Gross revenues were $712,156

         B. Total expenses were $560,138

         C. Net, pre-tax profits were $152,018

         D. Total assets were $365,498

         E. Liabilities (excluding the SBA loan) were $65,331

         F. Net, tangible assets (excluding the SBA loan) were $300,167

(the foregoing being collectively hereinafter referred to as the "National
ComTel Group Predicates," which must be accurate within 10% of the figures in
the audited financial statements).

3. The proposed acquisition is subject to the condition precedent that all
material executive officers and directors for National ComTel will have entered
into Employment Agreements with National ComTel Group, on terms satisfactory to
Colmena.

4. The following proposals assume that at closing on the proposed
reorganization, Colmena will have approximately 200,000,000 shares of its common
stock, $0.01 par value per share, outstanding or reserved for issuance pursuant
to binding commitments (e.g., conversion of its Class A preferred stock), with
no securities not convertible into common stock being outstanding. Any
differences in such assumptions will result in a corresponding adjustment to the
proposal so that the relative percentages remain the same.

A. Subject to the foregoing, Colmena would, at its election, either acquire all
of the assets and operations of National ComTel Group or all of National ComTel
Group's securities from National ComTel Group securities holders, or a
combination thereof, in exchange for at least 51% of the outstanding common
stock of Colmena on the date of closing, with additional shares of Colmena
common stock reserved for issuance pursuant to the provisions in subsection B
immediately below.

         B. At the end of the twelfth month following closing on the proposed
transaction, if National ComTel Group achieves 90% of its profit projections
(which projections will be established by the time of closing), Colmena will
issue such additional shares of common stock so as to give National ComTel a
total of 70% of the outstanding shares of Colmena's common stock at that time.
If National ComTel Group fails to meet 90% of its profit projections at that
time, the number of additional shares to be issued will be adjusted in
proportion to the percentage of profit projections actually achieved.

         C. The securities will be issued without registration under federal or
state securities laws in reliance on available exemptions from registration
requirements provided under Sections 3(b), 4(1), 4(2) or 4(6) of the Securities
Act of 1933, as amended (the "Securities Act") or

<PAGE>

regulations promulgated thereunder (e.g., Regulation D), and under comparable
state law exemptions in the jurisdictions where the subscribers reside.

5. A. Colmena will, immediately prior to closing, have 650,000,000 shares of
common stock, $0.01 par value, and 10,000,000 shares of preferred stock, $0.01
par value authorized.

         B. Of the 10,000,000 shares of preferred stock, $0.01 par value
authorized, 8,000,000 will have no current attributes, any attributes to be
designated by the Colmena board of directors prior to issuance, and 2,000,000
shares will have been designated as Class A, non-voting convertible preferred
stock.

6. A. Mr. Foss and other people associated with National ComTel Group (for
purposes of this letter of intent, such persons being collectively and
generically hereinafter referred to as the "National ComTel Parties") hereby
agree that the terms of the proposed transaction will be kept confidential
during the pendency of the negotiations called for hereby.

         B. Notwithstanding the foregoing, the National ComTel Parties will
comply with their obligations to publicly disseminate information concerning
this Agreement in filings with the Securities and Exchange Commission, in form
and substance reasonably approved by the National ComTel Parties.

C. (1) In conjunction with the foregoing, the National ComTel Parties have been
and will be provided with information concerning Colmena that constitutes
material inside information, as defined for purposes of Sections 20A and 21A of
the Exchange Act ("Inside Information").

                  (2) Such Inside Information was or will be provided in
conjunction with pending negotiations and pursuant to Colmena's obligations
under the Securities Act and the Exchange Act, to provide full and complete
disclosure.

                  (3) Such Inside Information may not be disclosed to anyone
other than pursuant to compulsory legal process or with the prior written
consent of Colmena, until after such information has been publicly disseminated.

                  (4) The National ComTel Parties acknowledge that improper
disclosure of such Inside Information constitutes a violation of the civil and
criminal provisions of Sections 20A and 21A of the Exchange Act.

(5) The National ComTel Parties further acknowledge that during the pendency of
negotiations, no one who is made privy to such Inside Information should engage
in any transactions involving publicly traded Colmena securities.

(6) National ComTel also understands that this letter of intent will be filed
with the Securities and Exchange in Commission, and that the information
contained herein is based, in part, on information provided by National ComTel
to Colmena.

<PAGE>

7. A. Since Colmena will be expending a great deal of time, effort, and money to
perform its due diligence and prepare for the contemplated acquisition, the
National ComTel Parties agree to deal exclusively with Colmena with regard to
discussions relating to the sale of National ComTel Group for at least 45 days
after this letter is fully executed by both parties.

B. The National ComTel Parties will not, directly or indirectly, (i) solicit
submission of offers from any person other than Colmena relating to any
acquisition of the stock or assets of National ComTel Group, or any merger,
consolidation or business combination with National ComTel Group (an
"Acquisition Proposal"), (ii) respond in any way to an unsolicited Acquisition
Proposal, or (iii) participate in any discussions or negotiations with, or
furnish any non-public information regarding an Acquisition Proposal to, any
person other than Colmena.

C. The National ComTel Parties agree to give Colmena reasonable access to
National ComTel Group's business facilities, financial information, business
records, management and employees to allow Colmena to satisfactorily complete
its due diligence.

8. The parties further agree that prior to closing and as part of the due
diligence process:

A. They will provide each other with complete copies of each other's articles of
incorporation, by-laws and corporate minutes; of each other's current list of
shareholders, showing the amount of shares owned by each shareholder; and a list
of their current officers and directors showing any shares or options owned.

B. Colmena will provide National ComTel with a list of any market makers in
Colmena stock, and with a listing and related information concerning all
"restricted stock" held.

C. Each party's ongoing business activities (including but not limited to
existing contractual obligations, employment contracts and employment-related
benefits, independent contractor agreements, and leases) are subject to review
and approval by the other party.

9. The proposed reorganization is also subject to approval by the SBA of
National ComTel's change in ownership or, absent that, to National ComTel's
ability to find an acceptable lending source to refinance the SBA loan. National
ComTel further reserves the right to withdraw from this letter of agreement
within 30 days of the date hereof in the event that estimates for accounting and
legal fees related to the proposed reorganization exceed what National ComTel
believes to be financially feasible.

         We mutually understand, of course, that this letter constitutes a
binding agreement with respect to the transaction contemplated herein only to
the extent set forth in this letter, including all provisions in Paragraph 6 and
the three sub-paragraphs within Paragraph 7. Other than as set forth herein,
each of us will only be bound by the Acquisition Agreement and the other
transaction agreements and documents concluded at the closing containing terms
and conditions mutually satisfactory to both of us.

         Please indicate your concurrence with the foregoing by signing a copy
of this letter or

<PAGE>

transmission, in the space indicated, and thereafter transmitting such executed
copy in the manner heretofore described.

Very truly yours,

COLMENA CORP.

/s/ Anthony Q. Joffe

Anthony Q. Joffe
President

The foregoing is hereby accepted, as of the date first above written

National ComTel Network Inc. and its Securities Holders

By:  /s/ Jeff Foss
Jeff Foss
President and authorized representative for all of the securities holders of
National ComTel Network Inc.

AQJ:kwd

Copies:   Kevin W. Dornan, Esquire
          Legal counsel designated by National ComTel and the
          National ComTel securities holders

<PAGE>Exhibit 4.1.1

Exhibit 4.1.1

 

CERTIFICATE OF DESIGNATION

of

SERIES A PREFERRED STOCK

of

FUELCELL ENERGY, INC.

(Pursuant to Section 151 of the 

Delaware General Corporation Law)

__________________________________

FuelCell Energy, Inc., a corporation organized and
existing under the General Corporation Law of the State of Delaware
(hereinafter called the "Corporation" or "FCE"), hereby certifies that the
following resolutions were adopted by the Board of Directors of the Corporation
and ratified by the full Board of Directors of the Corporation on August 1,
2003, as required by Section 151 of the Delaware General Corporation Law;

RESOLVED, that
pursuant to the authority granted to and vested in the Board of Directors of
the Corporation (hereinafter called the "Board of Directors" or the "Board") in
accordance with the provisions of the Amended and Restated Certificate of
Incorporation of the Corporation (the "Certificate"), the Board of Directors
hereby creates from its authorized class of preferred stock a series designated
as Series A Preferred Stock (hereinafter referred to as the "FCE Special Voting
Share" or the "Voting Share"), par value $.01 per share, of the Corporation;

RESOLVED, that the Board of Directors does hereby
establish the Series A Preferred Stock as follows: 

Section 1.     
Designation and Amount. 
One (1) share of Preferred Stock of the Corporation shall be designated as
Series A Preferred Stock. The Corporation will not issue any additional shares
of the same series of such Series A Preferred Stock without the consent of the
holders at the relevant time of Exchangeable Shares (as defined in Section 4(A)
below).

Section 2.     
Dividends and Distributions.

(A) 
  Except as required by applicable law, the holder(s) of the FCE Special
Voting Share ("Holder") shall not be entitled to receive any dividends or distributions
of the Corporation, whether payable in cash, property or in shares of capital
stock.

 

 

 

Section 3.     
Liquidation.   In the event of any liquidation, dissolution or
winding up of the Corporation, the holder of the Series A Preferred Stock shall
not be entitled to receive any assets of the Corporation available for
distribution to its stockholders.

Section 4.     
Voting
Rights.  The FCE Special Voting Share shall have
the following voting rights:

(A) 
 With respect to all meetings of stockholders of FCE at which holders of
the Corporation's common stock are entitled to vote (each, an "FCE Meeting")
and with respect to all written consents sought by FCE from its stockholders
including the holders of FCE common stock (each, an "FCE Consent"), the FCE
Special Voting Share shall vote together with the common stock of the
Corporation as a single class and each such vote of the FCE Special Voting
Share shall have identical voting rights to those of the Corporation's common
stock.  The holder of the Special Voting Share shall have a number of votes
equal to the number of Exchangeable Non-Voting Shares of FCE Canada Inc.
("Exchangeable Shares"), a corporation existing under the laws of Alberta,
Canada, outstanding on the record date for determining stockholders entitled to
vote at the applicable FCE Meeting or the applicable FCE Consent,  other than
those held by FCE or its majority owned subsidiaries ("Affiliates").  

(B) 
Except as set forth herein, or as otherwise provided by law, the registered
holders from time to time of Exchangeable Shares ("Beneficiaries") shall have
no special voting rights and their consent shall not be required for taking any
corporate action.

Section 5.     
Termination
of Voting Rights.  At such time as the FCE
Special Voting Share has no votes attached to it because there are no Exchangeable
Shares outstanding that are not owned by the Corporation or its Affiliates, and
there are no shares of stock, debt, options or other agreements that could give
rise to the issuance of any Exchangeable Shares to any person (other than the
Corporation, any of its subsidiaries or any person directly or indirectly
controlled by or under the common control of the Corporation), the FCE Special
Voting Share shall be deemed to be surrendered by the Holder to FCE.

Section 6.     
No
Redemption.  The FCE Special Voting Share shall not be
redeemable.

 

 

2

IN WITNESS WHEREOF,
this Certificate of Designation is executed on behalf of the Corporation by its
President and Chief Executive Officer and its corporate seal attested by its [VP-CFO]
this 31st day of October, 2003.

	

  	
  FUELCELL ENERGY, INC.

  By:    /s/ Jerry D. Leitman                                     

  Name:  Jerry D. Leitman

  Title:    President and Chief Executive Officer

  
	
  Attest:

  By:    /s/Joseph G. Mahler

  Name:  Joseph G. Mahler

  Title:    VP-CFO

  	

  

 

 

 

3

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