Document:

exv10w1

 

Exhibit 10.1

AMENDMENT NO. 1

TO

$2.5 MILLION SECURED PROMISSORY NOTE

     This Amendment No. 1 to $2.5 Million Secured Promissory Note dated as of April 11, 2008 (the
“Amendment”), is by and between Mobility California, Inc., a Delaware corporation (the “Company”),
and Mission Technology Group, Inc., a California corporation (“Payee”) and amends that certain
Mission Technology Group, Inc. $2.5 Million Secured Promissory Note entered into by and between
Company and Payee dated April 16, 2007 (the “Note”). Seller and Buyer are sometimes each referred
to herein as a “Party” and collectively, as the “Parties.”

     The parties hereby agree as follows:

     1. Amendment. Section 1(a) to the Note is amended and restated to read as follows:

     “(a) The principal of this Note shall be due and payable in consecutive quarterly installments
(each, a “Quarterly Installment”) of (i) $125,000 each on November 1, 2008, February 1,
2009, May 1, 2009, August 1, 2009 and November 1, 2009 and (ii) $144,231 each, commencing February
1, 2010 and continuing on each May 1, August 1, November 1 and February 1 thereafter until this
Note is paid in full. Additionally, commencing on November 1, 2008, and continuing until this Note
has been paid in full, the Company shall make a payment equal to five percent (5%) of the net
profit of the Company for the prior calendar quarter (with “net profit” being determined in
accordance with generally accepted accounting principles, consistently applied) (each, a
“Prepayment”). Each Prepayment shall be applied to the last Quarterly Installment due
under this Note at the time of such Prepayment.”

     2. General. Unless explicitly defined herein, all capitalized terms used in this
Amendment shall have the meaning set forth in the Note. Except as explicitly set forth in this
Amendment, all other terms in the Note remain unchanged by this Amendment and in full force and
effect. This Amendment may be executed in counterparts, each of which will be deemed an original,
and all of which together constitute one and the same instrument.

     In witness whereof, intending to be legally bound, the parties have executed this Amendment.

	 	 	 	 	 	 	 	 	 
	PAYEE:	 	COMPANY:	 	 
	 
	 	 	 	 	 	 	 	 
	Mobility California, Inc.	 	Mission Technology Group, Inc.	 	 
	 
	 	 	 	 	 	 	 	 
	By:

	 	 /s/ Joan W. Brubacher	 	By:	 	 /s/ Randy Jones	 	 
	Name:

	 	 

Joan W. Brubacher
	 	Name:
	 	 

Randy Jones
	 	 
	Title:

	 	Vice President
	 	Title:
	 	President	 	 

1exhibit101.htm

    
      	
              [Missing Graphic Reference]

               

            	
              Titanium
      Metals Corporation

              Three
      Lincoln Centre

              5430
      LBJ Freeway

              Suite
      1700

              Dallas,
      Texas   75240-2697

            	 
      

    

    Telephone:  (972)
233-1700 Telephone Facsimile:  (972) 448-1445

    

    

    

    

    

    April 14,
2008

    

    CONFIDENTIAL

    

    Dr.
Charles H. Entrekin                                                         Via
Hand Delivery

    150
Foxgayte Lane

    Pottstown,
PA 19465

    

    Consulting
Agreement

    

    Dear
Chuck:

    

    In
accordance with our discussions, Titanium Metals Corporation (“TIMET” or the
“Company”) hereby accepts your resignation as President – Global Operations and
Chief Operating Officer of TIMET (and all other titles and positions you have
with TIMET or any of its affiliates) effectively immediately. You will be paid
for your services to TIMET in such capacity through April 15,
2008.  This will confirm that TIMET and you have agreed, in exchange
for the consulting agreement provided herein to terminate immediately that
certain Employment Agreement dated January 1, 2007 between you and Titanium
Hearth Technologies, Inc. with no further obligation on either party’s behalf
except as provided herein. Notwithstanding such termination, you agree the
consulting payments provided herein are conditioned upon your agreement to
comply with and remain bound by the provisions contained in Sections 8, 9, 10
and 11 of your Employment Agreement, which shall survive the termination of the
Employment Agreement.

    

    Following
the termination of your employment, you agree to provide professional consulting
services to TIMET on matters as requested by TIMET from time to time during the
term hereof.  You will use your best efforts in performing such
services for TIMET.  You will be permitted to perform services for
others during the term hereof, including full time employment with another
company, provided that you undertake reasonable efforts to perform services for
TIMET as specifically requested hereunder.  It is contemplated that
your services will be provided on an as-needed basis as reasonably requested by
TIMET to assist with the transfer of knowledge that you have gained with TIMET
during your employment by TIMET.  Your services hereunder are not
anticipated to require your full time efforts during the term
hereof.

    

    This
agreement shall be for a twelve month term terminating on April 15, 2009. TIMET
will pay you a consulting fee of $550,000 during the term hereof payable in
semi-monthly installments in arrears with the first payment due on April 30,
2008.  TIMET will also reimburse you for reasonable, documented
out-of-pocket business expenses in connection with your consulting services
hereunder.

     

      You
may terminate this agreement at any time prior to such date by providing not
less than ten days’ prior written notice to TIMET, in which case you will
forfeit all consulting fees that would otherwise have been paid to you hereunder
after the date of termination (your final payment will be prorated through the
date of termination).  This agreement may not be terminated by TIMET
except in the case of material breach by you which remains uncured after thirty
days prior written notice to you at the address listed above.

    

    In
exchange for the payments and benefits provided to you under this letter, you
knowingly, voluntarily, and irrevocably release and forever discharge TIMET and
its officers, directors, shareholders, employees, and affiliates of and from all
actions or causes of action, suits, debts, covenants, contracts, agreements,
promises, obligations, damages, judgments, executions, liabilities, claims for
attorney’s fees and costs or disbursements, and any other claims or demands of
whatever kind or nature, whether known or unknown, suspected or unsuspected,
which you or your heirs, executors, or administrators ever had, now have, or may
have against TIMET and its officers, directors, shareholders, employees and
affiliates.

    

    

    

    Sincerely,

    

    

    

    /s/Bobby
D. O'Brien, President

    Bobby D.
O’Brien, President

    

    

    

    

    /s/Steven
L. Watson, Chief Executive Officer

    Steven L.
Watson, Chief Executive Officer

    

    Agreed:

    

    

    

    /s/Charles
H. Entrekin

    Charles
H. EntrekinThunder Mountain Gold Inc.

Exhibit 10.1

AGREEMENT AND PLAN OF MERGER

THIS AGREEMENT AND PLAN OF MERGER (this “Merger Agreement”) is entered into as of the ___ day of _________, 2008 by and between Thunder Mountain Gold, Inc., a Nevada corporation (the “Surviving Corporation”), and Thunder Mountain Gold, Inc., an Idaho corporation (“Merging Corporation”). Surviving Corporation and Merging Corporation are sometimes collectively referred to hereinafter as the “Constituent Corporations.”

RECITALS

WHEREAS, Surviving Corporation is a corporation organized and existing under the laws of Nevada and is a wholly-owned subsidiary of Merging Corporation;

WHEREAS, Merging Corporation is a corporation organized and existing under the laws of Idaho; and

WHEREAS, Surviving Corporation and Merging Corporation and their respective Boards of Directors deem it advisable and in the best interests of the corporations and their respective stockholders to merge Merging Corporation with and into Surviving Corporation pursuant to the Idaho Business Corporation Act and the Nevada General Corporate Law upon the terms and conditions set forth herein;

NOW THEREFORE, in consideration of the premises, the mutual covenants, herein contained, and other valuable consideration the receipt and sufficiency of which is hereby acknowledged, the parties hereto agree that Merging Corporation shall be merged with and into Surviving Corporation (the “Merger”) pursuant to the terms and conditions herein set forth.

AGREEMENT

1. General.

1.1 The Merger. On the Effective Date (as herein defined) of the Merger, Merging Corporation shall be merged with and into Surviving Corporation and the separate existence of Merging Corporation shall cease and Surviving Corporation shall survive such Merger. The name of Surviving Corporation shall be Thunder Mountain Gold, Inc.

1.2 Certificate of Incorporation and Bylaws. The certificate of incorporation of Surviving Corporation as in effect immediately prior to the Effective Date shall be the certificate of incorporation of Surviving Corporation after consummation of the Merger. The Bylaws of Surviving Corporation as in effect immediately prior to the Effective Date shall be the Bylaws of Surviving Corporation after consummation of the Merger.

 

1.3 Directors and Officers. The directors and officers of Merging Corporation shall, from and after the Effective Date, be the directors and officers of Surviving Corporation, until the earlier of their resignation or removal or until their respective successors are duly elected or appointed and qualified.

1.4 Property and Liabilities of Constituent Corporations. On the Effective Date, the separate existence of Merging Corporation shall cease and Merging Corporation shall be merged into Surviving Corporation. Surviving Corporation, from and after the Effective Date, shall possess all the rights, privileges, powers and franchises of whatsoever nature and description, of a public as well as of a private nature, and be subject to all the restrictions, disabilities and duties of each of the Constituent Corporations; all rights, privileges, powers and franchises of each of the Constituent Corporations, and all property, real, personal and mixed, of and debts due to either of the Constituent Corporations on whatever account as well for stock subscriptions as all other things in action or belonging to each of the Constituent Corporations shall be vested in Surviving Corporation; and all property, rights, privileges, powers and franchises, and all other interests shall be thereafter as effectually the property of Surviving Corporation as they were of the several and respective Constituent Corporations and the title to any real estate vested by deed or otherwise in either of the Constituent Corporations shall not revert or be in any way impaired by reason of the Merger. All rights of creditors and all liens upon the property of the Constituent Corporations shall be preserved unimpaired, and all debts, liabilities and duties of the Constituent Corporations thenceforth shall attach to Surviving Corporation, and may be enforced against it to the same extent as if said debts, liabilities and duties had been incurred or contracted by it. Any claim existing or action or proceeding, whether civil, criminal or administrative, pending by or against either Constituent Corporation may be prosecuted to judgment or decree as if the Merger had not taken place, or Surviving Corporation may be substituted in such action or proceeding.

1.5 Further Assurances. Merging Corporation agrees that, at any time, or from time to time, as and when requested by Surviving Corporation, or by its successors and assigns, it will execute and deliver, or cause to be executed and delivered in its name by its last acting officers, or by the corresponding officers of Surviving Corporation, all such 

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conveyances, assignments, transfers, deeds or other instruments, and will take or cause to be taken such further or other action as Surviving Corporation, its successors or assigns may deem necessary or desirable in order to evidence the transfer, vesting or devolution of any property, right, privilege or franchise or to vest or perfect in or confirm to Surviving Corporation, its successors and assigns, title to and possession of all the property, rights, privileges, powers, franchises and interests referred to in this Section 1 herein and otherwise to carry out the intent and purposes hereof.

1.6 Effective Date. The Merger shall become effective on the later of (a) the day on which an executed copy of a Certificate of Ownership and Merger is filed with the Secretary of State of the State of Nevada in the manner required by the Nevada General Corporation Law and (b) the day on which an executed copy of Articles of Merger are filed with the Secretary of State of the State of Idaho in the manner required by the Idaho Business Corporation Act (the “Effective Date”).

 

2. Conversion of Securities on Merger. 

2.1  Effect of Merger on Capital Stock. Each share of Merging Corporation’s common stock, $0.001 par value per share (other than shares (“Dissenting Shares”) that are owned by shareholders (“Dissenting Shareholders”) that are entitled to and properly exercise appraisal rights pursuant to Sections 10-2B-13.01 through 10-2B-13.32 of the Idaho Business Corporation Act), issued and outstanding immediately before the Effective Date shall, by virtue of the Merger and without any action on the part of the holder thereof, be converted into and become one (1) validly issued, fully paid and nonassessable share of Surviving Corporation’s common stock, $0.001 par value per share (the “Surviving Corporation Stock”). Each share of Surviving Corporation’s common stock issued and outstanding immediately before the Effective Date of the Merger shall be canceled without any consideration being issued or paid therefore, without any further action on the part of the holder thereof. 

2.2  Effect of Merger on Options and Warrants. Each option, warrant or other security of the Merging Corporation issued and outstanding immediately prior to the Effective Date shall be (a) converted into and shall be an identical security of the Surviving Corporation subject to the same agreement and terms as then exist with respect thereto, and (b) otherwise in the case of securities to acquire common stock of the Merging Corporation, converted into the identical right to acquire the same number of shares of Surviving Corporation Stock as the number of shares of common stock of the Merging Corporation that were acquirable pursuant to such option, warrant or other security. As of the Effective Date, the number of shares of common stock issuable by the Surviving Corporation upon exercise of any such option, warrant or other security shall be deemed reserved by the Surviving Corporation solely for purposes of the exercise of options, warrants or other securities. 

2.3  Certificates. At and after the Effective Date, all of the outstanding certificates which immediately prior thereto represented shares of Merging Corporation stock (other than Dissenting Shares), or options, warrants or other securities of the Merging Corporation, shall be deemed for all purposes to evidence ownership of and to represent the shares of Surviving Corporation Stock, or options, warrants or other securities of Surviving Corporation, as the case may be, into which the shares of Merging Corporation stock, or options, warrants or other securities of the Surviving Corporation, as the case may be, represented by such certificates have been converted as herein provided and shall be so registered on the books and records of the Surviving Corporation or its transfer agent. The registered owner of any such outstanding certificate shall, until such certificate shall have been surrendered for transfer or otherwise accounted for to the Surviving Corporation or its transfer agent, have and be entitled to exercise any voting and other rights with respect to, and to receive any dividends and other distributions upon, the shares of Surviving Corporation Stock, or options, warrants or other securities of Surviving Corporation, as the case may be, evidenced by such outstanding certificate, as above provided.

 

 

2.4  Appraisal Rights. No Dissenting Shareholder shall be entitled to shares of Surviving Corporation Stock hereunder unless and until the holder thereof shall have failed to perfect or shall have effectively withdrawn or lost such holder’s right to appraisal under the Idaho Business Corporation Act, and any Dissenting Shareholder shall be entitled to receive only the payment provided by the Idaho Business Corporation Act with respect to Dissenting Shares owned by such Dissenting Shareholder. If any person or entity who otherwise would be deemed a Dissenting Shareholder shall have failed to properly perfect or shall have effectively withdrawn or lost the right to appraisal with respect to any shares which would be Dissenting Shares but for that failure to perfect or withdrawal or loss of the right to appraisal, such Dissenting Shares shall thereupon be treated as though such Dissenting Shares had been converted into shares of Surviving Corporation Stock.

3. Foreign Qualification. Surviving Corporation covenants and agrees, to the extent required by applicable law, to register or qualify, as applicable, to do business as a foreign corporation in those states in which Merging Corporation is qualified to do business immediately prior to the Effective Date.

4. Conditions to the Obligations of the Constituent Corporations to Effect the Merger.

4.1  Approval by Stockholders. The stockholders of Merging Corporation shall have approved the Merger and this Merger Agreement in accordance with Idaho law.

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4.2  Governmental Approvals; No Restraints. No statute, rule, regulation, executive order, decree, ruling, injunction or other order (whether temporary, preliminary or permanent) shall have been enacted, entered, promulgated or enforced by any court or governmental authority of competent jurisdiction that prohibits, restrains, enjoins or restricts the consummation of the Merger.

5. Amendment. The respective Boards of Directors of the Constituent Corporations may amend this Merger Agreement at any time prior to the Effective Date, provided that an amendment made subsequent to the approval of the Merger by the stockholders of Merging Corporation shall not (a) alter or change the amount or kind of shares, securities, cash, property or rights to be received under this Merger Agreement by the shareholders of Merging Corporation; (b) alter or change any term of the Certificate of Incorporation of Surviving Corporation; or (c) alter or change any of the terms and conditions of this Merger Agreement if such alteration or change would adversely affect the shareholders of Merging Corporation. 

 

 6. Miscellaneous.

6.1 Counterparts. This Merger Agreement may be executed in any number of counterparts and via facsimile or other similar electronic transmission, each of which shall be deemed to be an original, and all of which taken together shall constitute one Merger Agreement.

6.2 Termination. This Merger Agreement may be terminated and the Merger abandoned at any time prior to the Effective Date, whether before or after stockholder approval of this Merger Agreement, by the consent of the Board of Directors of either of the Constituent Corporations.

6.3  Governing Law. The Merger and this Merger Agreement shall be governed by, and construed in accordance with, the laws of the State of Nevada. 

6.4 No Third Party Beneficiaries. This Merger Agreement is for the sole benefit of the parties hereto and is not intended to and shall not confer upon any person other than the parties hereto any rights or remedies hereunder.

6.5 Severability. If any provision of this Merger Agreement (or any portion thereof) or the application of any such provision (or any portion thereof) to any person or circumstance shall be held invalid, illegal or unenforceable in any respect by a court of competent jurisdiction, such invalidity, illegality or unenforceability shall not affect any other provision hereof (or the remaining portion thereof) or the application of such provision to any other person or circumstances.

IN WITNESS WHEREOF, the Constituent Corporations have executed this Merger Agreement as of the date and year first above written.

 

			
	 

	MERGING CORPORATION:

THUNDER MOUNTAIN GOLD, INC.

an Idaho corporation

1239 PARKVIEW DRIVE

ELKO, NEVADA  89801

	 

	 

	 

	 

	 

	  

	 

	 

	By: 

Its:

	 

	 

	 

	 

	 

	 

	 

	 

	SURVIVING CORPORATION:

 

THUNDER MOUNTAIN GOLD, INC.,

a Nevada corporation,

1239 PARKVIEW DRIVE

ELKO, NEVADA  89801

	 

	 

	 

	 

	 

	   

	 

	 

	By: 

Its:

	 

 

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AGREEMENT BY SURVIVING CORPORATION WITH SECRETARY OF STATE

 

TO:  Secretary of State of the State of Nevada:

The undersigned corporation, a Nevada corporation, pursuant to the provisions of Nevada Law, hereby executes the following Agreement of Merger with the Secretary of the State of Nevada:

1.

The name of the undersigned corporation is Thunder Mountain Gold, Inc. 

2.

The undersigned corporation is the surviving corporation pursuant to a merger effected on January XX, 2008, with Thunder Mountain Gold, Inc., an Idaho Corporation.

3.

The undersigned corporation is to be governed by the laws of the State of Nevada.

4.

The undersigned corporation hereby agrees that it may be served with process in the State of Nevada in any proceeding for the enforcement of any obligation of any domestic corporation which is a party to this merger and in any such domestic corporation against the surviving corporation.

5.

The undersigned corporation hereby irrevocably appoints the Secretary of the State of Nevada as its agent to accept service of process in any proceeding described hereinabove in paragraph 4 of this Agreement.

6.

The undersigned corporation hereby agrees that it will promptly pay to the dissenting shareholders of any such domestic corporation the amount, if any, to which such dissenting shareholder shall be entitled under the provisions of Nevada Business Corporation Act, Chpt. NRS 92A.300 to 92A.500, inclusive and the Idaho Business Corporation Act, with respect to the rights of dissenting  shareholders of Thunder Mountain Gold, Inc., an Idaho corporation.

DATED this _________day of __________________, 2008.

THUNDER MOUNTAIN GOLD, INC.

By:  

              E. James Collord

Title:

President

STATE OF

NEVADA

)

)

County of 

)

On this______day of January, 2008, before me, the undersigned, a Notary Public in and for the State of Nevada, personally appeared E. James Collord, to me known to be the President of Thunder Mountain Gold, Inc., who executed the within and foregoing instrument and acknowledged the said instrument to be the free and voluntary act and deed for the uses and purposes therein mentioned, and on oath states that he was authorized to execute said instrument.

IN WITNESS WHEREOF, I have hereunto set my hand and seal and affixed my official seal the day and year first above written.

Notary Public in and for the State of Nevada, residing at______________.My Commission expires:

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