Document:

Exhibit 10.14

 

ISSUING AND PAYING AGENCY AGREEMENT

 

THIS AGREEMENT, dated as of January 1,
2000 (the “Agreement”), is by and between ENOGEX INC., a corporation organized
under the laws of the State of Oklahoma (the “Issuer”), and THE BANK OF NEW
YORK, a New York banking corporation, as issuing and paying agent (the “Issuing
Agent”).  Terms used and not defined
herein but defined in the Notes (as hereinafter defined) have the meanings set
forth in the Notes.

 

WITNESSETH:

 

SECTION 1.  Appointment of Agent.  The Issuer proposes to issue its 8.125%
Senior Notes due 2010 (the “Notes”), in the aggregate principal amount of
$400,000,000.  The Issuer and  Lehman Brothers Inc. (“Lehman”), Banc of
America Securities LLC, Banc One Capital Markets, Inc., Bear, Stearns &
Co., Inc., CIBC World Markets Corp., First Union Securities, Inc. and
Warburg Dillon Read LLC (collectively, with Lehman, the “Initial Purchasers”)
have entered into a Placement Agreement dated as of January 11, 2000,
elating to the sale and purchase of the Notes. 
The Issuer hereby appoints the Issuing Agent to act, on the terms and
conditions specified herein, as issuing and paying agent for the Notes.

 

SECTION 2.  Note Form; Terms; Execution.  The Notes shall be in substantially the form
of Exhibit A hereto. The Notes shall be in minimum denominations of $1,000
and any larger denominations in integral multiples thereof shall be redeemable
by the Issuer prior to maturity as provided in the form of Note and shall bear
interest as provided in the form of Note. 
Each Note shall be executed by the manual or facsimile signature of an
Authorized Representative (as defined in Section 3 hereof) of the Issuer
and shall be authenticated by the Issuing Agent.

 

SECTION 3.  Authorized Representatives.  From time to time, the Issuer will furnish
the Issuing Agent with a certificate of the Issuer certifying the incumbency
and specimen signatures of the Issuer’s officers authorized to execute Notes on
behalf of the Issuer by manual or facsimile signature (an “Authorized Representative”).  Until the Issuing Agent receives a subsequent
incumbency certificate of the Issuer, the Issuing Agent shall be entitled to
rely on the last such certificate delivered to it for purposes of determining
the Authorized Representatives.  The Issuing
Agent shall have no responsibility to the Issuer to determine by whom or by
what means a facsimile signature may have been affixed on the Notes, or to
determine whether any facsimile or manual signature is genuine.  Any Note bearing the manual or facsimile
signature of a person who is an Authorized Representative on the date such
signature is affixed shall bind the Issuer after the completion and
authentication thereof by the Issuing Agent, notwithstanding that such person
shall have ceased to hold office on the date such Note is completed,
authenticated and delivered by the Issuing Agent.

 

SECTION 4.  Issuance Instructions; Completion,
Authentication and Delivery of Notes.

Prior to the original issuance
of the Notes, the Authorized Representative shall give written issuance
instructions (the “Issuance Instructions”) to the Issuing Agent directing that
the Issuing Agent issue and authenticate the Notes.  The Issuing Agent shall have no duty to issue
Notes in the absence of the Issuance Instructions.  The Issuance Instructions shall include the: (i) names
and addresses of the persons in whose name the Note shall be registered (each,
a “Registered Holder”) and the addresses for payment, if different; (ii) taxpayer
identification number of each Registered Holder; (iii) Principal Amount,
Stated Maturity Date, Interest Rate, Original Issue Date and delivery
instructions.  The Issuing Agent shall
deliver the Notes on the Original Issuance Date in accordance with the Issuance
Instructions.

 

 

SECTION 5.  Issuer’s Representations and Warranties.  The Issuance Instructions shall constitute
the Issuer’s representation and warranty to the Issuing Agent that the issuance
and delivery of the Notes have been duly and validly authorized by the Issuer
and that the Notes, when completed, authenticated and delivered pursuant
hereto, will constitute the legal, valid and binding obligations of the Issuer.

 

SECTION 6.  Payment of Note Interest; Interest Payment
Dates; Record Dates; Interest Rights.

 

(a)                                  Interest
payments on the Notes will be made semiannually on January 15 and July 15
of each year, commencing July 15, 2000, and upon redemption or at
maturity.  All such interest payments
(other than interest due upon redemption or at maturity) will be made to the
persons who are the Registered Holders at the close of business on the
fifteenth day (whether or not a Business Day) immediately preceding each such
Interest Payment Date (each a “Regular Record Date”), provided, however, that
interest payable upon redemption or at maturity will be payable to the person
to whom the principal is payable. 
Notwithstanding the foregoing, if the Original Issue Date or date of
transfer, exchange or substitution of any Note occurs either on an Interest Payment
Date or between a Regular Record Date and the next succeeding Interest Payment
Date, the first payment of interest on any such Note will be made on the
Interest Payment Date next following the next succeeding Regular Record Date to
the person who is the Registered Holder on such next succeeding Regular Record
Date.  If an Interest Payment Date,
maturity or redemption date would fall on a day that is not a Business Day, the
Interest Payment Date, maturity or redemption date will be the next succeeding
Business Day.  Interest on a Note will accrue
from, and including, the Original Issue Date or from, and including, the most
recent date to which interest has been paid or duly provided for with respect
to that Note.  Interest on the Notes will
be calculated on the basis of a 360-day year of twelve 30-day months.  All interest payments on the Notes (other
than interest due upon redemption or at maturity) will be made by check of the
Issuing Agent mailed to the Registered Holders, as such Registered Holders appear
on the Record Date in the Note Register referred to in Section 11 hereof,
or to such other address as any Registered Holder shall designate to the
Issuing Agent in writing not later than the relevant Record Date, or, in the
case holders of $10,000,000 or more in aggregate principal amount of Notes, at
the option of such holder, by wire transfer of immediately available funds if
appropriate wire transfer instructions have been received by the Issuing Agent
on or before such Record Date.  If
required by law, the Issuing Agent will withhold any taxes or other
governmental charges on any payment made in connection with the Notes.

 

(b)                                 Any
interest on any Note which is payable, but is not punctually paid or duly
provided for, on any Interest Payment Date (“Defaulted Interest”) shall
forthwith cease to be payable to the person who is the Registered Holder on the
relevant Regular Record Date by virtue of having been such Registered Holder,
and such Defaulted Interest may be paid by the Issuer, at its election in each
case, as provided in clause (i) or (ii) below:

 

(i)                                     The
Issuer may elect to make payment of any Defaulted Interest to the persons who
are the Registered Holders of the Notes to which the Defaulted Interest relates
(“Defaulted Notes”) (or their respective predecessor Notes) at the close of
business on a special record date for the payment of such Defaulted Interest,
which special record date shall be fixed in the following manner.  The Issuer shall notify the Issuing Agent in
writing of the amount of Defaulted Interest proposed to be paid on each of the
Defaulted Notes and the date of the proposed payment, and at the same time the
Issuer shall deposit with the Issuing Agent

 

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an amount of money equal to the aggregate amount proposed to be paid in
respect of such Defaulted Interest or shall make arrangements satisfactory to
the Issuing Agent for such deposit prior to the date of the proposed payment,
such money when deposited to be held in trust for the benefit of those entitled
to such Defaulted Interest as in this clause provided.  Thereupon the Issuing Agent shall fix a
special record date for the payment of such Defaulted Interest which shall be
not more than 15 days and not less than 10 days prior to the date of the
proposed payment and not less than 10 days after the receipt by the Issuing
Agent of the notice of the proposed payment. 
The Issuing Agent shall promptly notify the Issuer of such special
record date and, in the name and at the expense of the Issuer, shall cause
notice of the proposed payment of such Defaulted Interest and the special
record date therefor to be mailed, first-class postage prepaid, to each
Registered Holder of Defaulted Notes as of the special record date at the
address as it appears in the Note Register, not less than 10 days prior to such
special record date.  Notice of the
proposed payment of such Defaulted Interest and the special record date
therefor having been so mailed, such Defaulted Interest shall be paid to those
in whose names the Defaulted Notes (or their respective predecessor Notes) are
registered at the close of business on such special record date and shall no
longer be payable pursuant to following clause (ii).

 

(ii)                                  The
Issuer may make payment of any Defaulted Interest on the Defaulted Notes in any
other lawful manner not inconsistent with the requirements of any securities
exchange which maintains a system for the trading of restricted securities and
through which the Notes are so traded, and upon such notice as may be required
by such exchange, if, after notice given by the Issuer to the Issuing Agent of
the proposed payment pursuant to this clause, such manner of payment shall be
deemed practicable by the Issuing Agent. 
Subject to the foregoing provisions of this Section, each Note authenticated
and delivered under this Agreement upon registration of transfer or in exchange
for or in lieu of any other Note shall carry the rights to interest accrued and
unpaid, and to accrue, which were carried by such other Note.

 

SECTION 7.  Payment of Note Principal.  The Issuing Agent will pay to the Registered
Holder in immediately available funds the principal amount of each Note on the
redemption date, if any, or at maturity, together with accrued interest, if any
(and premium, if any), due upon redemption or at maturity, only upon
presentation and surrender of such Note on or after the redemption date or
maturity date thereof, as the case may be, at the offices of the Issuing Agent
located at the address listed in Section 22(b)(ii) hereof, or at such
other address of the Issuing Agent or the office or agency of such other paying
agent as the Issuer shall designate in the Borough of Manhattan, New York City,
in writing to the Registered Holder of such Note.  The Issuing Agent will forthwith cancel each
such Note and promptly forward same in due course to the Issuer.

 

SECTION 8.  Other Information Regarding the Notes.  On any day on which Notes are issued,
redeemed or mature, the Issuing Agent shall prepare and forward to the Issuer
as of the close of business on such day a written statement indicating by Note
number and principal amount of the Notes issued on such day and the aggregate
principal amount of the Notes outstanding at the close of business on such day.

 

SECTION 9.  Deposit of Funds.  The Issuer shall deposit with the Issuing
Agent not later than 10:00 a.m. New York City time on each Interest
Payment Date funds available for payment on such Interest Payment Date in an
amount sufficient to pay all interest due on the Notes on such Interest Payment
Date and shall deposit with the Issuing Agent not

 

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later than 10:00 a.m. New York City time
on each redemption date or maturity date of any Note funds available for
payment on such Interest Payment Date in an amount sufficient to pay the
principal of (premium, if any) and accrued interest, if any, on any such Note
to, but excluding, the redemption date or maturity date, as the case may
be.  If there is deposited with the
Issuing and Paying Agent as trust funds, for the purpose hereinafter stated, an
amount, in cash or in U.S. Government Securities sufficient to pay and
discharge the principal of and premium and interest, if any, on the Notes, as
and when the same become due and payable, including upon any redemption prior
to maturity, the Issuer will be deemed to have satisfied and discharged the
Notes.  Notwithstanding the foregoing, if
the Notes are to be redeemed prior to their maturity as contemplated by Section 10
hereof, such Notes will not be deemed satisfied and discharged until such Notes
have been irrevocably called or designated for redemption on a date when such
Notes may be called for redemption and proper notice of redemption has been
given in accordance with the terms of the Notes or the Issuer has given the
Issuing and Paying Agent irrevocable instructions to give such notice of
redemption.

 

SECTION 10.  Optional Redemption.  The Notes shall be subject to redemption at
the option of the Issuer as provided in the form of Note attached hereto as Exhibit A.  In the event that the Issuer elects to redeem
Notes, in whole or in part, the Issuer shall give written notice to the Issuing
Agent of the principal amount of Notes to be so redeemed not less than 45 days
or more than 60 days prior to the redemption date, which notice shall also
specify the redemption date and applicable redemption price or the method of
determining the same.  The Issuing Agent
shall cause notice of redemption to be given not less than 30 or more than 60
days prior to the redemption date in the name, and at the expense, of the
Issuer in the manner provided in the Note. 
Whenever less than all the Notes outstanding are to be redeemed, the
Notes to be so redeemed shall be selected by the Issuing Agent, by lot or in
any usual manner approved by it.

 

SECTION 11.  Note Register; Registration, Transfer,
Exchange; Persons Deemed Owners.

 

(a)                                  It
is understood that the Note Register (as hereinafter defined) shall be
maintained by such method as the Issuer and the Issuing Agent shall mutually
agree.  The term “Note Register” shall
mean the definitive record in which shall be recorded the names, addresses,
addresses for payment and taxpayer identification numbers of the Registered
Holders, the Note numbers and Original Issue Date thereof and details with
respect to the issuance, transfer and exchange of Notes, as appropriate.

 

(b)                                 Upon
the presentation of a Note for registration of transfer, the Issuing Agent
shall register the transfer of such Note if such Note is to be transferred (i) to
the Issuer or to, by, through or in a transaction approved by an Initial
Purchaser, (ii) so long as such Note is eligible for resale pursuant to Rule 144A
(“Rule 144A”) under the Securities Act of 1933, as amended (the “1933
Act”), to a person whom the seller reasonably believes is a “Qualified
Institutional Buyer” (as defined in Rule 144A) acquiring such Note or
interest therein for its own account or as a fiduciary or agent for others
(which others must also be Qualified Institutional Buyers) to whom notice is
given that such resale or other transfer is being made in reliance on Rule 144A,
(iii) pursuant to an exemption from registration provided by Rule 144
under the 1933 Act, (iv) to an “Institutional Accredited Investor” (as
defined in the Note) acquiring such Note or interest therein for its own
account or as a fiduciary or agent for others (which others must also be
Institutional Accredited Investors unless such transferee is a bank acting in a
fiduciary capacity) for investment purposes and not for distribution in
violation of the 1933 Act in a transaction exempt from registration, or (v) pursuant
to an effective registration statement under the 1933 Act.  The consent of an Initial Purchaser referred
to in subsection (i) above must be given by a facsimile transmission or
any other method to which the Issuing Agent has agreed on or before the time of
transfer.  To effectuate the foregoing
restrictions on resales and other transfers of

 

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Notes in
certificated form, if any resale or other transfer of such a Note described in
clause (ii) or (iv) above is proposed to be made, the holder and the
prospective purchaser or transferee shall be required to complete the
Certificate of Transfer on the reverse of such Note or a duly completed Bond
Power substantially in the form attached hereto as Exhibit B (the “Bond
Power”) to advise the Issuing Agent of the basis for such transfer and the
availability of the exemption from registration provided thereby; provided
that a Certificate of Transfer or Bond Power shall not be required in the case
of any Note in certificated form from which the restrictive legend originally
set forth on the face thereof (or on the face of one or more predecessor Notes)
has been removed with the consent of the Issuer in accordance with the
procedures set forth in this Agreement. 
In registering the transfer of any Notes pursuant to this Section 11(b) or
Section 11(h), the Issuing Agent shall be entitled to rely without further
investigation on a duly completed Bond Power or such other certificate or
instrument of transfer that the Issuer has advised the Issuing Agent is
acceptable to the Issuer.

 

(c)                                  In
connection with the issuance of Notes arising from a transfer, the Original
Issue Date of the Note shall be the same date as the Original Issue Date of the
Note being transferred.

 

(d)                                 In
connection with any registration of transfer of Notes, the Issuer and the
Issuing Agent may require payment of a sum sufficient to cover any applicable
tax or other governmental charge.

 

(e)                                  Prior
to due presentment of a Note for registration of transfer, the Issuer and the
Issuing Agent may deem and treat the Registered Holder of any Note as the
absolute owner of such Note for the purpose of receiving payment of the principal
of (premium, if any) and interest on such Note and for all other purposes
whatsoever, whether or not such Note or the interest thereon shall be overdue,
and neither the Issuer nor the Issuing Agent, except as provided in this Section 11,
shall be affected by notice to the contrary.

 

(f)                                    Each
Note presented for registration of transfer shall be duly endorsed or be
accompanied by an appropriate written instrument of transfer.

 

(g)                                 Upon
surrender for registration of transfer of any Note and satisfaction of the
requirements of this Section 11, the Issuing Agent shall complete,
authenticate and deliver, in the name of the designated transferee or
transferees, one or more new registered Notes of any authorized denominations,
of a like aggregate principal amount, bearing a number not contemporaneously
outstanding and containing identical terms and provisions.

 

(h)                                 Subject
to the requirements of Section 11(b) hereof, at the option of any
Registered Holder, Notes may be exchanged for other Notes containing identical
terms and provisions, in any authorized denominations, and of a like aggregate
principal amount, upon surrender of the Notes to be exchanged to the Issuing
Agent, provided that there is no obligation to exchange or register the
transfer of any Note during the period of 15 days immediately preceding the
date of first giving any notice of redemption of Notes.  Whenever any Notes are so surrendered for
exchange, the Issuing Agent shall complete, authenticate and deliver the Notes
that the Registered Holder making the exchange is entitled to receive.

 

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SECTION 12.  Mutilated, Destroyed, Lost, or Stolen
Notes.  In case any Note shall become
mutilated or destroyed, lost or stolen, the Issuer in its discretion may
execute and upon its request the Issuing Agent shall complete, authenticate and
make available for delivery a Note, having the same terms and provisions and a
number not contemporaneously outstanding, payable in the same principal amount,
of like tenor, and dated the same Original Issue Date in exchange and
substitution for the mutilated Note or in lieu of and substitution for the Note
destroyed, lost or stolen.  The applicant
for a substituted Note shall furnish to the Issuer and the Issuing Agent such
security or indemnity as may be required by them to hold each of them harmless,
and, in every case of destruction, loss or theft, the applicant shall also
furnish to the Issuer and the Issuing Agent evidence to their satisfaction of
the destruction, loss or theft of such Note and of the ownership thereof.  The Issuing Agent shall complete and
authenticate any such substituted Note and deliver the same upon the written
request or authorization of any Authorized Representative.  Upon the issuance of any substituted Note,
the Issuer and the Issuing Agent may require the Registered Holder of such Note
to pay a sum sufficient to cover any fees and expenses associated
therewith.  In case any Note which has
matured or will mature or will be redeemed within 30 days shall become
mutilated or be destroyed, lost or stolen, the Issuer, instead of issuing a
substitute Note, may pay or authorize the payment of the same (without
surrender thereof except in the case of a mutilated Note) upon compliance by
the Registered Holder with the provisions of this Section, as hereinabove set
forth.  The Issuing Agent shall record on
the Note Register the cancellation of any original Notes (whether or not
physically surrendered to the Issuing Agent) and the reissue of Notes in substitution
therefor due to mutilation, destruction, loss or theft.

 

SECTION 13.  Application of Funds; Return of Unclaimed
Funds.  Until used or applied as
herein provided, all funds received by the Issuing Agent hereunder shall be
held for the purposes for which they were received but need not be segregated
from other funds except to the extent required by law.  The Issuing Agent shall be under no liability
for interest on any funds received by it hereunder except as otherwise agreed
with the Issuer.  Any funds deposited
with the Issuing Agent and remaining unclaimed at the end of two years after
the date upon which the last payment of the principal of (premium, if any) or
interest on any Note to which such deposit relates shall have become due and
payable, shall be repaid to the Issuer by the Issuing Agent at the Issuer’s
written request, and the Holder of any Note to which such deposit relates
entitled to receive payment thereof shall thereafter look only to the Issuer
for the payment thereof and all liability of the Issuing Agent with respect to
such funds shall thereupon cease.

 

SECTION 14.  Global Notes.

 

(a)                                  If
specified in the Issuance Instructions, except as provided in subsections (c) and
(g) below, the holder of all of the Notes to be issued pursuant to such
Issuance Instructions shall be The Depository Trust Company (“DTC”) and such
Notes shall be registered in the name of Cede & Co., as nominee for
DTC.

 

(b)                                 Such
Notes shall be initially issued in the form of a separate single authenticated
fully registered certificate in the name of Cede & Co. and in the
principal amount of such Notes (a “Global Note”).  Upon initial issuance, the ownership of such
Notes shall be registered in the Note Register in the name of Cede &
Co., as nominee of DTC.  So long as Notes
are evidenced by a Global Note, the Issuing Agent and the Issuer may treat DTC
(or its nominee) as the sole and exclusive holder of such Notes registered in
its name for the purposes of payment of the principal of (premium, if any) and
interest on such Notes or portion thereof to be redeemed, and of giving any
notice permitted or required to be given to holders of such Notes and neither
the Issuing Agent nor the Issuer shall be affected by any notice to the
contrary.  Neither the Issuing Agent nor
the Issuer shall have any responsibility or obligation to any of DTC’s
participants (each a “Participant”), any person claiming a beneficial ownership
in such Notes under or through DTC or any Participant (each a “Beneficial
Owner”), or any

 

6

 

other person
which is not shown on the Note Register as being a holder, with respect to the
accuracy of any records maintained by DTC or any Participant; the payment of
DTC or any Participant of any amount in respect of the principal of (premium,
if any) or interest on such Notes; any notice which is permitted or required to
be given to holders of such Notes; the selection by DTC or any Participant of
any person to receive payment in the event of a partial redemption of such
Notes; any notice which is permitted or required to be given to holders of such
Notes; the selection by DTC or any Participant of any person to receive payment
in the event of a partial redemption of such Notes; or any consent given or
other action taken by DTC as holder of such Notes.  The Issuing Agent shall pay all principal of
(premium, if any) and interest on such Notes registered in the name of Cede &
Co. only to or “upon the order of” DTC (as that term is used in the Uniform
Commercial Code as adopted in New York), and all such payments shall be valid
and effective to fully satisfy and discharge the Issuer’s obligations with
respect to the principal of (premium, if any) and interest on such Notes to the
extent of the sum or sums so paid. 
Except as otherwise provided in Section 14(c) and (g) below,
no person other than DTC shall receive authenticated Note certificates
evidencing the obligation of the Issuer to make payments of principal of
(premium, if any) and interest on such Notes. 
Upon delivery by DTC to the Issuing Agent of written notice to the
effect that DTC has determined to substitute a new nominee in place of Cede &
Co., and subject to the other provisions of this Agreement with respect to
transfers of Notes, the word “Cede & Co.” in this Agreement shall
refer to such new nominee of DTC.

 

(c)                                  Any
Global Note shall be exchangeable for Notes in certificated form registered in
the names of Participants and/or Beneficial Owners if, but only if, (i) DTC
notifies the Issuer that it is unwilling or unable to continue as depositary
for such Notes or at any time ceases to be a clearing agency registered as such
under the 1934 Act, (ii) the Issuer instructs the Issuing Agent that such
Global Note shall be exchangeable or (iii) there shall have occurred and
be continuing a default or an event that with notice or passage of time, or
both, would constitute a default with respect to the Global Notes.  In any such event, the Issuing Agent shall
issue, transfer and exchange Note certificates as requested by DTC in
appropriate amounts pursuant to this Agreement. 
The Issuer shall pay all costs in connection with the production,
execution and delivery of such Note certificates.  If Note certificates are issued, the
provisions of this Agreement shall apply to, among other things, the transfer
and exchange of such certificates and the method of payment of principal of,
premium, if any, and interest on such certificates.

 

(d)                                 Notwithstanding
any other provision of this Agreement to the contrary, so long as any Notes are
evidenced by a Global Note, registered in the name of Cede & Co., as
nominee of DTC, all payments with respect to the principal of (premium, if any)
and interest on such Notes and all notices with respect to such Notes shall be
made and given, respectively, to DTC as provided in the representation letter
relating to the Notes among DTC, the Issuing Agent and the Issuer.  The Issuing Agent is hereby authorized and
directed to comply with all terms of the representation letter.

 

(e)                                  In
connection with any notice or other communication to be provided to the holders
of such Notes by the Issuer or the Issuing Agent with respect to any consent or
other action to be taken by the holders of such Notes, the Issuer or the
Issuing Agent, as the case may be, shall seek to establish a record date for
such consent or other action and give DTC notice of such record date not less
than 15 calendar days in advance of such record date to the extent
possible.  Such notice to DTC shall be
given only when DTC is the sole holder of the Notes.

 

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(f)                                    Neither
the Issuer nor the Issuing Agent will have any responsibility or obligations to
the Participants or the Beneficial Owners with respect to (i) the accuracy
of any records maintained by DTC or any Participant, (ii) the payment by
DTC or any Participant of any amount due to any Beneficial Owner in respect of
the principal of (premium, if any) or interest on the Notes, (iii) the
delivery by DTC or any Participant of any notice to any Beneficial Owner, (iv) the
selection of the Beneficial Owners to receive payment in the event of any
partial redemption of the Notes, or (v) any consent given or other action
taken by DTC as a holder of the Notes.

 

So long as
Cede & Co. is the Registered Holder of the Notes as nominee of DTC,
references herein to the Notes or Registered Holders of the Notes shall mean
Cede & Co. and shall not mean the Beneficial Owners of the Notes nor
DTC Participants.

 

(g)                                 No
Global Note may be transferred except as a whole by DTC to a nominee of DTC or
by a nominee of DTC to DTC or another nominee of DTC or by DTC or any such
nominee to a successor of DTC or a nominee of such successor.

 

(h)                                 Upon
the termination of the services of DTC with respect to any Global Note pursuant
to subsection (c) of this Section 14 after which no substitute
book-entry depository is appointed, such Global Notes shall be registered in
whatever name or names holders transferring or exchanging such Global Notes
shall designate in accordance with the provisions of this Agreement.

 

SECTION 15.  Liability.  Neither the Issuing Agent nor its officers or
employees shall be liable to the Issuer for any act or omission hereunder
except in the case of the Issuing Agent’s negligence or willful misconduct.  The duties and obligations of the Issuing
Agent, its officers and employees shall be determined by the express provisions
of this Agreement and they shall not be liable except for the performance of
such duties and obligations as are specifically set forth herein and no implied
covenants shall be read into this Agreement against them. The Issuing Agent may
consult with counsel of its selection and shall be fully protected in any
action taken in good faith in accordance with the advice of counsel.  Neither the Issuing Agent nor its officers or
employees shall be required to ascertain whether any sale of Notes (or any
amendment or termination of this Agreement) has been duly authorized (provided
that the Issuing Agent in good faith has determined in accordance with Section 3
hereof that the facsimile or manual signature of an Authorized Representative
or any person who has been designated by an Authorized Representative in
writing to the Issuing Agent resembles the specimen signature filed with the
Issuing Agent) or is in compliance with any other agreement to which the Issuer
is a party (whether or not the Issuing Agent is also a party to such other
agreement).  The Issuing Agent shall not
be required to, and shall not, expend or risk any of its own funds or otherwise
incur any financial liability in the performance of any of its duties
hereunder.

 

SECTION 16.  Indemnification.  The Issuer agrees to indemnify and hold
harmless the Issuing Agent, its directors, officers, employees and agents from
and against any and all liabilities (including liability for penalties),
losses, claims, damages, actions, suits, judgments, demands, costs and expenses
(including reasonable legal fees and expenses of counsel of its selection)
relating to or arising out of or in connection with its or their performance
under this Agreement, except to the extent that they are caused by the
negligence or willful misconduct of the Issuing Agent, its directors, officers,
employees or agents; provided, however, that if any such action or suit shall
be commenced against, or any such claim or demand be assessed against the
Issuing Agent in respect of which the Issuing Agent or any of its directors,
officers, employees or agents proposes to demand indemnification, the Issuer
shall be notified to that effect with reasonable promptness and shall have the
right to assume the entire control of the defense, compromise or settlement
thereof, including employment of counsel (provided that the Issuing Agent shall
have the right to consent in advance to the

 

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counsel so employed, such consent not to be
unreasonably withheld, and provided further that the Issuer shall consult in
good faith with the Issuing Agent from time to time in connection with such action
or suit) and in connection therewith, the Issuing Agent and its directors,
officers, employees and agents shall cooperate fully to make available to the
Issuer all pertinent information under its and their control.  The foregoing indemnity includes, but is not
limited to, any action taken or omitted in good faith within the scope of this
Agreement upon telephonic, telecopier or other electronically transmitted
instructions, if authorized herein, received from, or reasonably believed by
the Issuing Agent in good faith to have been given by, an Authorized
Representative.  This indemnity shall
survive the resignation or removal of the Issuing Agent and the satisfaction or
termination of this Agreement.

 

SECTION 17.  Electronic System Timesharing.  It is understood that any electronic
timesharing services which may be utilized by the Issuer and the Issuing Agent
in the issuance of Notes and maintenance of the Note Register may be furnished
to the Issuing Agent by a third party provider. 
If such third party provider has granted permission to the Issuing Agent
to allow its clients to use such timesharing services, and in consideration for
such permission, it is understood and agreed that such services will be
supplied to such clients “as is”, without warranty by the third party provider
or the Issuing Agent, then the Issuer hereby waives any claims it may have
against such third party provider.

 

SECTION 18.  Compensation of the Issuing Agent.  The Issuer agrees to pay the compensation of
the Issuing Agent at such rates as shall be agreed upon from time to time in
writing and to reimburse the Issuing Agent for its reasonable out-of-pocket
expenses (including reasonable legal fees and expenses), disbursements and
advances incurred or made in connection with the Issuing Agent’s execution and
performance of this Agreement.  The
obligations of the Issuer to the Issuing Agent pursuant to this Section shall
survive the resignation or removal of the Issuing Agent and the satisfaction or
termination of this Agreement.

 

SECTION 19.  Amendments.

 

(a)                                  This
Agreement may be amended by any written instrument signed by the parties, so
long as such amendment does not adversely affect the rights of the Registered
Holders of Notes, as certified in writing by the Issuer to the Issuing Agent.

 

(b)                                 The
Issuer and the Issuing Agent agree to cooperate to adopt amendments or
supplements to this Agreement from time to time to modify the restrictions and
procedures for resales and other transfers of the Notes to reflect any change
in applicable law or regulation (or the interpretation thereof) or in practices
relating to the resale or transfer of restricted securities generally.

 

SECTION 20.  Removal of Restrictions.  At any time after the holding period
specified in Rule 144(k) under the 1933 Act has been satisfied with
respect to a Note, upon the consent of the Issuer and subject to the Issuer’s
right to require an opinion of counsel to the effect that the restrictions are
no longer required under the 1933 Act and in form acceptable to the Issuer, a
Registered Holder may surrender its Note to the Issuing Agent who, upon written
instructions of the Issuer, shall issue in exchange for that Note one or more
unlegended Notes of any authorized denomination, of a like aggregate principal
amount bearing a number not contemporaneously outstanding and containing
identical terms and provisions.  The
Issuing Agent shall not deliver unlegended Notes without the written
instructions of the Issuer.

 

SECTION 21.  Issuer Information.  The Issuer shall provide to any Registered
Holder or any prospective purchaser of a Note, upon the request of such
Registered Holder or prospective purchaser, the most recent information, if
any, regarding the Issuer prepared by the Issuer pursuant to Rule 144A(d)(4) under
the 1933 Act and supplied by the Issuer to the Issuing Agent.

 

9

 

SECTION 22.  Notices.

 

(a)                                  All
communications by or on behalf of the Issuer relating to the issuance,
transfer, exchange or payment of the Notes or interest thereon shall be in
writing and directed to the Issuing Agent at its address set forth in
subsection (b)(ii) hereof, and the Issuer will send all Notes to be
completed, authenticated and delivered by the Issuing Agent to such address (or
such other address as the Issuing Agent shall specify in writing to the
Issuer).

 

(b)                                 Notices
and other communications hereunder shall (except to the extent otherwise
expressly provided) be in writing, shall be deemed effective when received and
shall be addressed as follows, or to such other addresses as the parties hereto
shall specify from time to time:

 

(i)                                     if to the Issuer:

 

Enogex Inc.

600 Central Park Two

515 Central Park Drive

Oklahoma City, OK  73124-0300

Attention:   Treasurer

Telephone:  (405) 557-7788

Telefax:  (405) 557-5258

 

(ii)                                  if to the Issuing
Agent:

 

The Bank of New York

101 Barclay Street, Floor 21 West

New York, New York 10286

Attention:  Corporate Trust,
Administration

Telephone:  (212) 815-6286

Telefax:  (212) 815-5915 or 5917

 

SECTION 23.  Resignation or Removal of Issuing Agent.  The Issuing Agent may at any time resign as
such agent by giving written notice to the Issuer of such intention on its
part, specifying the date on which its desired resignation shall become
effective; provided, however, that such date shall be not less than thirty days
after the giving of such notice by the Issuing Agent to the Issuer.  The Issuing Agent may be removed at any time
by the filing with it of an instrument in writing signed by a duly authorized
officer of the Issuer and specifying such removal and the date upon which it is
intended to become effective, which date shall not be less than 30 days from
the date that notice is received.  Such
resignation or removal shall take effect on the date of the appointment by the
Issuer of a successor Issuing Agent and the acceptance of such appointment by
such successor Issuing Agent.  In the
event of resignation by the Issuing Agent or removal by the Issuer, if a
successor agent has not been appointed by the date as of which the resignation
or removal of the Issuing Agent is to be effective, as set forth in the
resignation notice of the Issuing Agent referred to above, the Issuing Agent
may, at the expense of the Issuer, petition any court of competent jurisdiction
for appointment of a successor Issuing Agent.

 

SECTION 24.  Cancellation of Unissued Notes.  Upon the written request of the Issuer, the
Issuing Agent shall cancel and return to the Issuer all unissued Notes in its
possession at the time of such request; provided, however, that the Issuing
Agent shall not be required to destroy cancelled Notes.

 

10

 

SECTION 25.  Benefit of Agreement.  This Agreement is solely for the benefit of
the parties hereto, their successors and assigns and the Registered Holders of
Notes and no other person shall acquire or have any right under or by virtue of
this Agreement.

 

SECTION 26.  Notes Held by the Issuing Agent.  The Issuing Agent, in its individual or other
capacity, may become the owner or pledgee of the Notes with the same rights it
would have if it were not acting as issuing and paying agent hereunder.

 

SECTION 27.  Governing Law.  This Agreement is to be construed and
enforced in accordance with, and the rights of the parties shall be governed
by, the laws of the State of New York, without regard to principles of
conflicts of laws.

 

SECTION 28.  Counterparts.  This Agreement may be executed by the parties
hereto in any number of counterparts, and by each of the parties hereto in
separate counterparts, each such counterpart, when so executed and delivered,
shall be deemed to be an original, but all such counterparts shall together
constitute but one and the same instrument.

 

11

 

IN WITNESS WHEREOF, the parties hereto have
caused this Agreement to be executed on their behalf by their officers
thereunto duly authorized, all as of the day and year first above written.

 

 

	
   

  	
   

  
	
   

  	
  ENOGEX INC.

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
  Name:

  	
   

  
	
   

  	
  Title:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  THE BANK OF NEW YORK

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
  Name:

  	
   

  
	
   

  	
  Title:

  	
   

  

 

 

EXHIBIT A - FORM OF NOTE

 

 

ABBREVIATIONS

 

The following abbreviations, when used in the
inscription on the face of this Note, shall be construed as though they were
written out in full according to applicable laws or regulations:

 

	
  TEN COM -

  	
  as tenants in common

  	
   

  	
  UNIF GIFT MIN ACT -

  	
   

  	
   

  	
  Custodian

  	
   

  	
   

  
	
  TEN ENT -

  	
  as tenants by the entireties

  	
   

  	
   

  	
  (Cust)

  	
   

  	
  (Minor)

  
	
  JT TEN -

  	
  as joint tenants with right of survivorship
  and not as tenants in common

  	
   

  	
  under Uniform Gifts to Minors

  
	
   

  	
   

  	
  Act

  	
   

  
	
   

  	
   

  	
   

  	
  (State)

  
										

 

Additional abbreviations may also be used
though not in the above list.

 

FOR VALUE RECEIVED, the undersigned hereby
sell(s), assign(s) and transfer(s) unto

 

PLEASE INSERT SOCIAL SECURITY OR

OTHER

IDENTIFYING NUMBER OF ASSIGNEE

 

 

(Please print or typewrite name and address
including postal zip code of assignee)

 

 

the within Note and all rights thereunder
hereby irrevocably constituting and appointing

 

 

Attorney to transfer said note on the books of
the Issuing and Paying Agent, with full power of substitution in the premises.

 

 

	
  Date:

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Notice: The signature(s) on this
  assignment

  must correspond with the name(s) as
  written

  upon the face of the within Note in every

  particular, without alteration or
  enlargement

  or any change whatsoever.

  

 

 

FORM OF SENIOR NOTE

 

[FACE OF NOTE]

 

THIS NOTE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS
AMENDED (THE “SECURITIES ACT”), OR ANY OTHER SECURITIES LAWS, AND MAY NOT
BE OFFERED OR SOLD IN VIOLATION OF THE SECURITIES ACT OR SUCH OTHER LAWS. THIS
NOTE MAY BE TRANSFERRED ONLY IN PRINCIPAL AMOUNTS OF $1,000 AND INTEGRAL
MULTIPLES  THEREOF.  THE HOLDER HEREOF AND ANY BENEFICIAL OWNER OF
ANY INTEREST HEREIN BY PURCHASING OR ACCEPTING THIS NOTE OR ANY INTEREST
HEREIN, AGREES FOR THE BENEFIT OF ENOGEX INC. (THE “COMPANY”) THAT THIS NOTE OR
ANY INTEREST HEREIN MAY BE RESOLD OR OTHERWISE TRANSFERRED ONLY (1) TO
THE COMPANY OR LEHMAN BROTHERS INC. (THE “REPRESENTATIVE”), BANC OF AMERICA
SECURITIES LLC, BANC ONE CAPITAL MARKETS, INC., BEAR, STEARNS & CO.
INC., CIBC WORLD MARKETS CORP., FIRST UNION SECURITIES, INC. AND WARBURG DILLON
READ LLC, (EACH AN “INITIAL PURCHASER,” AND TOGETHER WITH THE REPRESENTATIVE,
THE “INITIAL PURCHASERS”) OR BY, THROUGH, OR IN A TRANSACTION APPROVED BY, AN
INITIAL PURCHASER, (2) SO LONG AS THIS NOTE IS ELIGIBLE FOR RESALE
PURSUANT TO RULE 144A UNDER THE SECURITIES ACT (“RULE 144A”), TO A PERSON WHOM
THE SELLER REASONABLY BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER, AS DEFINED
IN RULE 144A (A “QUALIFIED INSTITUTIONAL BUYER”), THAT IS ACQUIRING THIS NOTE
OR SUCH INTEREST HEREIN FOR ITS OWN ACCOUNT OR AS A FIDUCIARY OR AGENT FOR
OTHERS (WHICH OTHERS MUST ALSO BE QUALIFIED INSTITUTIONAL BUYERS) TO WHOM
NOTICE IS GIVEN THAT THE RESALE OR OTHER TRANSFER IS BEING MADE IN RELIANCE ON
RULE 144A, (3) PURSUANT TO AN EXEMPTION FROM REGISTRATION IN ACCORDANCE
WITH RULE 144 UNDER THE SECURITIES ACT (IF AVAILABLE), (4) TO AN
INSTITUTIONAL INVESTOR THAT QUALIFIES AS AN “ACCREDITED INVESTOR”, AS DEFINED
IN RULE 501(a)(1), (2), (3) or (7) UNDER THE SECURITIES ACT (AN
“INSTITUTIONAL ACCREDITED INVESTOR”), THAT IS ACQUIRING THIS NOTE OR SUCH
INTEREST HEREIN FOR ITS OWN ACCOUNT OR AS A FIDUCIARY OR AGENT FOR OTHERS
(WHICH OTHERS MUST ALSO BE INSTITUTIONAL ACCREDITED INVESTORS UNLESS SUCH
TRANSFEREE IS A BANK ACTING IN ITS FIDUCIARY CAPACITY) FOR INVESTMENT PURPOSES
AND NOT FOR DISTRIBUTION IN VIOLATION OF THE SECURITIES ACT PURSUANT TO AN
EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT, OR (5) PURSUANT TO
AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT, IN EACH CASE IN
ACCORDANCE WITH ANY APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED
STATES OR ANY OTHER JURISDICTION; PROVIDED THAT THE AGREEMENT OF THE HOLDER
HEREOF OR THE BENEFICIAL OWNER OF ANY INTEREST HEREIN IS SUBJECT TO ANY
REQUIREMENT OF LAW THAT THE DISPOSITION OF THE PURCHASER’S PROPERTY SHALL AT
ALL TIMES BE AND REMAIN WITHIN ITS CONTROL. 
WITH RESPECT TO ANY RESALE OR OTHER TRANSFER OF THIS NOTE (IF IN
CERTIFICATED FORM) DESCRIBED IN CLAUSE (2) OR (4) ABOVE, THE ISSUING
AND PAYING AGENT WILL REQUIRE THE SUBMISSION TO IT OF A DULY COMPLETED BOND
POWER RELATING TO THIS NOTE IN THE FORM ATTACHED AS EXHIBIT B TO THE
ISSUING AND PAYING AGENCY AGREEMENT; PROVIDED THAT THE FOREGOING SUBMISSION
SHALL NOT BE REQUIRED IF THIS LEGEND HAS BEEN REMOVED IN ACCORDANCE WITH THE
PROCEDURES SET FORTH IN THE ISSUING AND PAYING AGENCY AGREEMENT.  BY PURCHASING OR ACCEPTING THIS NOTE OR ANY
INTEREST HEREIN, THE HOLDER HEREOF AND OF ANY INTEREST HEREIN AGREES AND REPRESENTS
FOR THE BENEFIT OF THE COMPANY THAT (1) IT IS (A) A QUALIFIED
INSTITUTIONAL BUYER ACQUIRING THIS NOTE OR SUCH INTEREST HEREIN FOR ITS OWN
ACCOUNT OR AS A FIDUCIARY OR AGENT FOR OTHERS (WHICH OTHERS MUST ALSO BE

 

 

QUALIFIED INSTITUTIONAL BUYERS) OR (B) AN INSTITUTIONAL ACCREDITED
INVESTOR ACQUIRING THIS NOTE OR SUCH INTEREST HEREIN FOR ITS OWN ACCOUNT OR AS
A FIDUCIARY OR AGENT FOR OTHERS (WHICH OTHERS MUST ALSO BE INSTITUTIONAL
ACCREDITED INVESTORS UNLESS SUCH HOLDER IS A BANK ACTING IN ITS FIDUCIARY
CAPACITY) FOR INVESTMENT PURPOSES AND NOT FOR DISTRIBUTION IN VIOLATION OF THE
SECURITIES ACT AND (2) IT WILL NOTIFY ANY PURCHASER OF THIS NOTE OR ANY
INTEREST HEREIN FROM IT OF THE RESALE AND TRANSFER RESTRICTIONS REFERRED TO
ABOVE.  THIS NOTE AND RELATED
DOCUMENTATION MAY BE AMENDED OR SUPPLEMENTED FROM TIME TO TIME, WITHOUT
THE CONSENT OF BUT UPON NOTICE TO THE REPRESENTATIVE AND TO THE HOLDERS OF
NOTES SENT TO THEIR REGISTERED ADDRESSES, TO MODIFY THE RESTRICTIONS ON AND
PROCEDURES FOR RESALES AND OTHER TRANSFERS OF THIS NOTE TO REFLECT ANY CHANGE
IN APPLICABLE LAW OR REGULATION (OR THE INTERPRETATION THEREOF) OR IN PRACTICES
RELATING TO RESALES OR OTHER TRANSFERS OF RESTRICTED SECURITIES GENERALLY.  THE HOLDER OF THIS NOTE AND ANY BENEFICIAL
OWNER OF ANY INTEREST IN THIS NOTE SHALL BE DEEMED, BY ITS ACCEPTANCE OR
PURCHASE HEREOF OR THEREOF, TO HAVE AGREED TO ANY SUCH AMENDMENT OR SUPPLEMENT
(EACH OF WHICH SHALL BE CONCLUSIVE AND BINDING ON THE HOLDER HEREOF AND ALL
FUTURE HOLDERS OF THIS NOTE AND ANY NOTES ISSUED IN EXCHANGE OR SUBSTITUTION
HEREFOR, WHETHER OR NOT ANY NOTATION THEREOF IS MADE HEREON).

 

UNLESS THIS NOTE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST COMPANY (THE “DEPOSITARY”) (55 WATER STREET, NEW YORK, NEW YORK)
TO THE ISSUER HEREOF OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR
PAYMENT, AND ANY NOTE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO.
OR SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITARY AND ANY PAYMENT IS MADE TO CEDE & CO., ANY TRANSFER, PLEDGE
OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL
SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.

 

UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR NOTES IN
CERTIFICATED FORM, THIS NOTE MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY
THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY
TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY OR BY THE DEPOSITARY OR
ANY SUCH NOMINEE TO A SUCCESSOR OF THE DEPOSITARY OR A NOMINEE OF SUCH
SUCCESSOR.

 

 

	
  REGISTERED

  	
  CUSIP No.

  	
   

  	
  PRINCIPAL

  AMOUNT

  
	
   

  	
   

  	
   

  	
   

  
	
  No. FR-

  	
   

  	
   

  	
   

  

 

A-2-

 

ENOGEX
INC.

SENIOR
NOTE

 

	
  ORIGINAL ISSUE DATE:
  January 14, 2000

  	
   

  	
  INTEREST RATE: 8.125 %

  

 

STATED MATURITY DATE:  January 15, 2010

 

INTEREST PAYMENT
DATE)(S):  January 15 and July 15,
commencing July 15, 2000

 

RECORD DATE:  Fifteenth day preceding the applicable
Interest Payment Date

 

DEFAULT  RATE:  10.125%

 

OTHER ADDITIONAL PROVISIONS:

 

 

Enogex Inc. (the “Company”, which term
includes any successor corporation), for value received, hereby promises to pay
to
                                                              ,
or registered assigns, the principal sum
of                            
                                      
on the Stated Maturity Date specified above (or any Redemption Date, each as
defined on the reverse hereof) (each such Stated Maturity Date or Redemption
Date being hereinafter referred to as the “Maturity Date” with respect to the
principal repayable on such date) and to pay interest thereon, at the Interest
Rate per annum specified above, until the principal hereof is paid or duly made
available for payment, and (to the extent that the payment of such interest
shall be legally enforceable) at the Default Rate per annum specified above on
any overdue principal, premium and/or interest. 
The Company will pay interest in arrears on each Interest Payment Date
specified above (each, an “Interest Payment Date”), commencing July 15,
2000 and on the Maturity Date.  Interest
on this Note will be computed on the basis of a 360-day year of twelve 30-day
months.

 

Interest on this Note will accrue from, and
including, the immediately preceding Interest Payment Date to which interest has
been paid or duly provided for (or from, and including, the Original Issue Date
if no interest has been paid or duly provided for with respect to this Note)
to, but excluding, the applicable Interest Payment Date or the Maturity Date,
as the case may be (each, an “Interest Period”).  The interest so payable, and punctually paid
or duly provided for, on any Interest Payment Date will, subject to certain
exceptions described herein, be paid to the person in whose name this Note (or
one or more predecessor Senior Notes) is registered at the close of business on
the fifteenth calendar day (whether or not a Business Day, as defined below)
immediately preceding such Interest Payment Date (the “Record Date”); provided,
however, that interest payable on the Maturity Date will be payable to
the person to whom the principal hereof and premium, if any, hereon shall be
payable.  Any such interest not so
punctually paid or duly provided for (“Defaulted Interest”) will forthwith cease
to be payable to the holder on any Record Date, and shall be paid to the person
in whose name this Note is registered at the close of business on a special
record date (the “Special Record Date”) for the payment of such Defaulted
Interest to be fixed by the Issuing and

 

A-3-

 

Paying Agent hereinafter referred to, notice
whereof shall be given to the holder of this Note by the Issuing and Paying
Agent not less than 10 calendar days prior to such Special Record Date.

 

Payment of principal, premium, if any, and
interest in respect of this Note due on the Maturity Date will be made in
immediately available funds upon presentation and surrender of this Note at the
corporate trust office of the Issuing and Paying Agent maintained for that
purpose in The Borough of Manhattan, The City of New York, currently located at
101 Barclay Street, New York, New York 10286, or at such other paying agency as
the Company may determine.  Payment of
interest due on any Interest Payment Date other than the Maturity Date will be
made by check mailed to the address of the person entitled thereto as such
address shall appear in the Security Register maintained at the aforementioned
office of the Issuing and Paying Agent; provided, however, that a
holder of U.S.$ 10,000,000 or more in aggregate principal amount of Senior
Notes will be entitled to receive interest payments on such Interest Payment
Date by wire transfer of immediately available funds if appropriate wire
transfer instructions have been received in writing by the Issuing and Paying
Agent not less than 15 calendar days prior to such Interest Payment Date.  Any such wire transfer instructions received
by the Issuing and Paying Agent shall remain in effect until revoked by such
holder.

 

If any Interest Payment Date falls on a day
that is not a Business Day, the required payment of interest shall be made on
the next succeeding Business Day with the same force and effect as if made on
the date such payment was due, and no interest shall accrue with respect to
such payment for the period from and after such Interest Payment Date to the
date of such payment on the next succeeding Business Day.  If the Maturity Date falls on a day that is
not a Business Day, the required payment of principal, premium, if any, and/or
interest shall be made on the next succeeding Business Day with the same force
and effect as if made on the date such payment was due, and no interest shall
accrue with respect to such payment for the period from and after the Maturity
Date to the date of such payment on the next succeeding Business Day.

 

As used herein, “Business Day” means any day,
other than a Saturday or Sunday, that is neither a legal holiday nor a day on
which banking institutions are authorized or required by law or executive order
to close in The City of New York.

 

The Company is obligated to make payment of
principal, premium, if any, and interest in respect of this Note in U.S.
dollars.

 

Reference is hereby made to the further
provisions of this Note set forth on the reverse hereof, which further
provisions shall have the same force and effect as if set forth on the face
hereof.

 

A-4-

 

IN WITNESS WHEREOF, Enogex Inc. has caused
this Note to be executed.

 

	
   

  	
  ENOGEX INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
  Title:

  
					

 

Countersigned for Authentication only

on
                          ,
        .

 

THE BANK OF NEW YORK,

as Issuing and Paying Agent

 

 

	
  By:

  	
   

  	
   

  
	
   

  	
  Authorized
  Signatory

  
				

 

This Note is not valid for any purpose unless
countersigned by The Bank of New York, as Issuing and Paying Agent.

 

A-5-

 

[REVERSE OF NOTE]

 

ENOGEX INC.

 

SENIOR NOTE

 

This Note is one of a duly authorized series
of Senior Notes of the Company, designated as 8.125% Senior Notes due 2010 (the
“Senior Notes”) issued and to be issued under an Issuing and Paying Agency
Agreement, dated as of January 1, 2000 (as amended, modified or
supplemented from time to time, the “Issuing and Paying Agency Agreement”),
between the Company and The Bank of New York, as Issuing and Paying Agent (the
“Issuing and Paying Agent”, which term includes any successor issuing and
paying agent under the Issuing and Paying Agency Agreement), to which Issuing
and Paying Agency Agreement and all agreements supplemental thereto reference
is hereby made for a statement of the respective rights, duties and obligations
thereunder of the Company, the Issuing and Paying Agent and the holders of the
Senior Notes, and of the terms upon which the Senior Notes are, and are to be,
authenticated and delivered.  All terms
used but not otherwise defined in this Note shall have the meanings assigned to
such terms in the Issuing and Paying Agency Agreement.

 

This Note, and any Senior Note or Notes
issued upon transfer hereof, is issuable only in fully registered form, without
coupons, in denominations of $1,000 and any integral multiple thereof (an
“Authorized Denomination”).  The Issuing
and Paying Agent has been appointed registrar for the Senior Notes, and the
Company will cause the Issuing and Paying Agent to maintain at its office in
The City of New York a register for the registration and transfer of Senior
Notes. This Note may be transferred at the aforesaid office of the Issuing and
Paying Agent by surrendering this Note for cancellation, duly endorsed or
accompanied by a written instrument of transfer in form approved by the Issuing
and Paying Agent and duly executed by the registered holder hereof in person or
by the holder’s attorney duly authorized in writing, and thereupon the Issuing
and Paying Agent will issue in the name of the transferee or transferees, in
exchange herefor, a new Senior Note or Notes having identical terms and
provisions and having a like aggregate principal amount in Authorized
Denominations, subject to the terms and conditions set forth herein and in the
Issuing and Paying Agency Agreement, without charge except for any tax or other
governmental charge imposed in relation thereto. The Issuing and Paying Agent
is not required to exchange or register the transfer of any Senior Note during
the period of 15 days immediately preceding the date of first giving any notice
of redemption or after such Note has been selected for redemption.

 

This Note is not subject to any sinking fund.

 

This Note will be subject to redemption at
the option of the Company on any Business Day, in whole or from time to time in
part in principal amounts of U.S.$1,000 and increments of U.S.$1,000 in excess
thereof (provided that any remaining principal amount hereof shall be at least
U.S.$1,000 or an Authorized Denomination), at the Redemption Price (as defined
below), together 

 

A-6-

 

with unpaid interest accrued thereon to the
date fixed for redemption (each, a “Redemption Date”), on written notice given
to the registered holder of this Note at its address shown in the registration
books maintained by the Issuing and Paying Agent no more than 60 or less than
30 calendar days prior to the Redemption Date. 
The “Redemption Price” shall be equal to the greater of (i) 100% of
the principal amount of this Note and (ii) the sum of the present values
of the remaining scheduled payments of principal and interest thereon from and
after the Redemption Date discounted to the Redemption Date on a semi-annual
basis (assuming a 360-day year consisting of twelve 30-day months) at the
Treasury Rate plus 25 basis points.

 

“Treasury Rate” means, with respect to any
Redemption Date, the rate per annum equal to the semi-annual equivalent yield
to maturity of the Comparable Treasury Issue, assuming a price for the
Comparable Treasury Issue (expressed as a percentage of its principal amount)
equal to the Comparable Treasury Price for such redemption date.

 

“Comparable Treasury Issue” means the United
States Treasury security selected by an Independent Investment Banker as having
a maturity comparable to the remaining term of the Senior Notes to be redeemed
that would be utilized, at the time of selection and in accordance with
customary financial practice, in pricing new issues of corporate debt
securities of comparable maturity to the remaining term of the Senior Notes.

 

“Independent Investment Banker” means one of
the Reference Treasury Dealers appointed by the Issuing and Paying Agent after
consultation with the Company.

 

“Reference Treasury Dealer” means each of
Lehman Brothers Inc. and Bear, Stearns & Co. Inc., and their
respective successors; provided, however, that if any of the foregoing shall
cease to be a primary U.S. Government securities dealer in New York City (a
“Primary Treasury Dealer”), the Company shall substitute therefor another
Primary Treasury Dealer.

 

“Comparable Treasury Price” means, with
respect to any Redemption Date, (i) the average of the bid and asked
prices for the Comparable Treasury Issue (expressed in each case as a
percentage of its principal amount) on the third Business Day preceding such
redemption date, as set forth in the daily statistical release (or any
successor release) published by the Federal Reserve Bank of New York and
designated “Composite 3:30 p.m. Quotations for U.S. Government Securities”
or (ii) if such release (or any successor release) is not published or
does not contain such prices on such third Business Day, (A) the average
of the Reference Treasury Dealer Quotations for such redemption date, after
excluding the highest and lowest such Reference Dealer Quotations, or (B) if
the Issuing and Paying Agent is unable to obtain at least four such Reference
Treasury Dealer Quotations, the average of all such Quotations obtained.
“Reference Treasury Dealer Quotations” means, with respect to each Reference
Treasury Dealer and any Redemption Date, the average, as determined by the
Issuing and Paying Agent, of the bid and asked prices for the Comparable
Treasury Issue (expressed in each case as a percentage of its principal amount)
quoted in writing to the Issuing and Paying Agent by such Reference Treasury
Dealer at 5:00 p.m., New York City time, on the third Business Day
preceding such Redemption Date. In the event of redemption of this Note in part
only, a new Note of like tenor for the unredeemed portion hereof and otherwise
having the

 

A-7-

 

same terms as this Note shall be issued in
the name of the holder hereof upon the presentation and surrender hereof.

 

Liens. The Company
will not, and will not permit any Subsidiary (as hereinafter defined) to,
pledge or otherwise subject to any lien any of its property or assets (whether
now or hereafter acquired and whether tangible or intangible) unless the Senior
Notes are secured by such pledge or lien equally and ratably with all other
obligations and indebtedness secured thereby so long as such other obligations
and indebtedness shall be so secured. “Subsidiary” means any corporation of
which the Company and/or any other Subsidiary (within the meaning of this
definition) owns (whether directly or indirectly) more than 50% of the stock the holders of which are
ordinarily and generally, in the absence of contingencies or understandings,
entitled to vote for the election of directors. The agreement of the Company
contained in this paragraph does not apply to “Permitted Encumbrances.”
Permitted Encumbrances means: (i) liens existing on the date of the
Issuing and Paying Agency Agreement; (ii) liens on any property of a
Subsidiary at the time it becomes a Subsidiary, provided that such liens do not
extend to any property of the Company or any other Subsidiary; (iii) existing
liens on any property acquired by the Company or a Subsidiary (whether or not
assumed); (iv) liens on any property acquired by the Company or a
Subsidiary and created within twelve months after the date of such acquisition;
(v) liens arising by reason of deposits with or the giving of any form of
security to any governmental body in connection with financing of the
acquisition or construction of property to be used in the business of the
Company or a Subsidiary; (vi) liens created or assumed by the Company or a
Subsidiary in connection with the issuance of debt securities the interest on
which generally is excludable from gross income of the holder of such security
pursuant to the Internal Revenue Code of 1986, as amended, for the purpose of
financing, in whole or in part, the acquisition or construction of property to
be used by the Company or a Subsidiary; (vii) liens created or assumed by
the Company or a Subsidiary on any contract for the sale of any product or
service or any proceeds therefrom (including accounts and other receivables)
related to the operation or use of any acquired property and created not later
than twelve months after the later of the date of such acquisition or the
commencement of full operation of such property; (viii) liens created or
assumed by the Company or a Subsidiary on oil, gas, hydrocarbon or mineral
properties owned or leased by the Company or a Subsidiary to secure loans to
the Company or such Subsidiary for the purpose of developing such properties
irrespective of whether the Company or a Subsidiary shall assume or guarantee
such loans or otherwise be liable in any way in respect thereof; (ix) liens
created to effect payment solely out of the proceeds of oil, gas, hydrocarbons
or other minerals to be produced from the property subject thereto and to be
sold or delivered by the Company or a Subsidiary; (x) liens created by the
Company or a Subsidiary on advance payment obligations by the Company or a
Subsidiary to secure indebtedness incurred to finance advances for oil, gas,
hydrocarbon and other mineral exploration and development; (xi) refundings or
extensions of maturity of indebtedness secured by liens created or assumed in accordance
with the foregoing subdivisions (i) through (viii) and (x), provided
that the principal amount of such indebtedness is not increased and that no
additional property is subjected to such lien; (xii) liens, pledges or deposits
in connection with workmen’s compensation, social security, unemployment
insurance or other like laws or to secure the performance of letters of credit,
bids, tenders, sales contracts, leases, statutory obligations, surety, appeal
and performance bonds and other similar obligations not incurred in connection
with the borrowing of money, the obtaining of advances or the payment of the
deferred purchase price of property; (xiii) construction or materialmen’s or
warehousemen’s liens securing obligations not

 

A-8-

 

overdue, or if overdue, being contested in
good faith by appropriate proceedings; (xiv) attachment, judgment and other
similar liens arising in connection with court proceedings, provided the
execution or other enforcement of such liens is effectively stayed and the
claims secured thereby are being contested in good faith in such a manner that
the property subject to such liens is not subject to forfeiture; and (xv)
encumbrances in the nature of zoning restrictions, easements, rights and
restrictions of record on the use of real property, and landlord’s and lessor’s
liens in the ordinary course of business, which do not materially impair the
Company’s or a Subsidiary’s use thereof.

 

With respect to any liens created or assumed
in accordance with the foregoing subdivisions (iii) through (vii), the
principal amount of indebtedness secured by such a lien, together with all
other indebtedness secured by a lien on the property subject to such a lien,
shall not exceed the purchase price of the property acquired or constructed and
any related financing costs and, in the case of a lien referred to in
subdivisions (iii), (iv) and (vi), such a lien shall be limited to the
acquired or constructed property and any replacement or improvements to such
property.

 

In addition to the liens expressly excepted,
other liens are permitted (without complying with the second preceding
paragraph) if at the time of, and after giving effect to, the creation or
assumption thereof, the aggregate of all obligations of the Company and its
Subsidiaries secured by any liens not specifically permitted as described above
does not exceed 10% of the Company’s total consolidated net tangible assets.
“Consolidated net tangible assets” means the aggregate amount of assets (less
reserves for depreciation, obsolescence, amortization, depletion and any other
reserves which are properly deductible therefrom) computed in accordance with
generally accepted accounting principles and set forth in the most recent
consolidated balance sheet of the Company reported upon by independent public
accountants, but excluding all assets on such balance sheet which were acquired
or arose after December 31, 1999 constituting goodwill, trade names,
trademarks, patents, unamortized debt discount (net of any unamortized debt
discount with respect to any zero coupon or deep discount debt) and expense and
other like intangibles which would be classified as intangible assets under
generally accepted accounting principles.

 

Sale and Leaseback.
The Company will not, and will not permit any Subsidiary to, enter into any
agreement providing for the leasing by the Company or such Subsidiary of all or
substantially all of the property of the Company or such Subsidiary, which
property has been or is to be sold or transferred by the Company or such
Subsidiary to the lessor thereof, or which is substantially similar in purpose
to property so sold.

 

Merger. Consolidation, Etc.
The Company shall not consolidate with or merge into any other corporation or
convey or transfer all or substantially all of its properties and assets as an
entirety to any person, unless:

 

(i)                                         the
corporation formed by such consolidation or into which the Company is merged or
the person which acquires by conveyance or transfer the properties and assets
of the Company substantially as an entirety shall be a corporation organized
and existing under the laws of the United States of America, any State thereof
or the District of Columbia (the “Successor Corporation”) and shall expressly
assume, by amendment to the Issuing and Paying Agency Agreement signed by the
Company and such Successor Corporation and

 

A-9-

 

delivered to the Issuing and Paying Agent,
the due and punctual payment of the principal of, premium, if any, and interest
on all the Senior Notes and the performance or observance of every covenant
hereof and of the Issuing and Paying Agency Agreement on the part of the
Company to be performed or observed; and

 

(ii)                                      the Company shall
have delivered to the Issuing and Paying Agent a certificate signed by an
executive officer of the Company and a written opinion of counsel satisfactory
to the Issuing and Paying Agent, each stating that such transaction and such
amendment to the Issuing and Paying Agency Agreement comply with this paragraph
and that all conditions precedent herein provided for relating to such
transaction have been complied with.

 

Upon any such consolidation or merger, or any
conveyance or transfer of all or substantially all of the properties and assets
of the Company as an entirety in accordance with this paragraph, the Successor
Corporation shall succeed to, and be substituted for, and may exercise every
right and power of, the Company under the Issuing and Paying Agency Agreement
and the Senior Notes with the same effect as if the Successor Corporation had
been named as the Company therein and herein and thereafter the Company shall
be released from its liability as obligor on any of the Senior Notes and under
the Issuing and Paying Agency Agreement.

 

For purposes of the foregoing, “all or substantially all of its properties and assets”
shall mean 50% or more of the total assets of the Company as shown on the
consolidated balance sheet of the Company as of the end of the calendar year
immediately preceding the day of the year in which such determination is
made.  Further, nothing in this Agreement
shall prevent or hinder the Company from selling, transferring or otherwise
disposing during any calendar year (in one transaction or a series of
transactions) less than 50% of the amount of its total assets as shown on the
consolidated balance sheet of the Company as of the end of the immediately
preceding calendar year.

 

Events of Default.
The registered holder of this Note may, by notice in writing to the Company,
declare the principal of this Note to be, and the same shall thereupon become,
forthwith due and payable, together with interest accrued thereon, upon the
occurrence and continuation of one or more of the following events of default:

 

(i)                                         default in the
payment of any interest on this Note when due or in the payment of any interest
on any other Senior Note when due, which default continues and remains
unremedied for at least 30 calendar days;

 

(ii)                                      default in the
payment of principal or redemption price, as the case may be, on this Note or
on any other Senior Note when due on the Maturity Date;

 

(iii)                                   a judgment, decree
or order by a court having jurisdiction shall have been entered adjudicating
the Company or any Significant Subsidiary (which term for purposes of this Note
shall mean any subsidiary of the Company that would, under the standards set
forth in Rule 405 of Regulation C under the Securities Act of 1933, as
amended, be a “Significant Subsidiary” as defined therein) bankrupt or
insolvent, or approving as properly

 

A-10-

 

filed a petition seeking reorganization of
the Company or any Significant Subsidiary under the United States Bankruptcy
Code or any other similar applicable Federal or state law, and such judgment,
decree or order shall not have been vacated or set aside or stayed within 60
days of its entry; or a judgment, decree or order of a court having
jurisdiction for the appointment of a receiver or liquidator or trustee or
assignee in bankruptcy or insolvency of the Company or of any Significant
Subsidiary or of the whole or any substantial part of the property of any
thereof, or for the winding up or liquidation of the affairs of any thereof,
shall have been entered, and such judgment, decree or order shall not have been
vacated or set aside or stayed within 60 days of its entry;

 

(iv)                                  the Company or any
Significant Subsidiary shall institute proceedings to be adjudicated a
voluntary bankrupt, or shall consent to the filing of a bankruptcy proceeding
against it, or shall file a petition or answer or consent seeking
reorganization under the United States Bankruptcy Code or any other similar
applicable Federal or state law, or shall consent to the filing of any such petition,
or shall consent to the appointment of a receiver or liquidator or trustee or
assignee in bankruptcy or insolvency of it or of the whole or any substantial
part of U.S. property, or shall make an assignment for the benefit of
creditors, or shall admit in writing its inability to pay its debts generally
as they become due;

 

(v)                                     the Company shall
fail to perform or observe any other term, covenant or agreement contained in
this Note to be performed or observed by it, and any such failure shall continue
and remain unremedied for at least 30 calendar days after notice has been given
in writing to the Company by the holder hereof, or

 

(vi)                                  the Company or any
Subsidiary shall default in the payment when due (subject to any applicable
grace period) whether at stated maturity or otherwise, of any principal of or
interest on (howsoever designated) any indebtedness for borrowed money of, or
guaranteed by, the Company or any Subsidiary (except any such indebtedness of
any Subsidiary to the Company or to any other such Subsidiary), whether such
indebtedness now exists or shall hereafter be created if the aggregate
principal amount of all such indebtedness as to which such default has occurred
equals or exceeds $10,000,000.

 

Defeasance. If, at
or prior to the maturity of this Note, the Company shall deposit with the
Issuing and Paying Agent, in trust for the benefit of the holder hereof,
either:

 

(a)                                      cash sufficient
to pay the principal of and premium and interest, if any, on this Note as and
when the same become due and payable, including upon redemption prior to
maturity, or

 

(b)                                     such amount of
U.S. Government Securities (which term shall mean, for the purposes of this
Note, direct obligations of the United States of America to pay principal which
obligations are not callable at the issuer’s option, or direct obligations of
the United States of America to pay interest, in each case for the payment of
which the full faith and credit of the United States of America is pledged) as
will together with the income to accrue thereon without consideration of any
reinvestment thereof be sufficient to pay the principal

 

A-11-

 

of and premium, if any, and interest on this
Note as and when the same become due and payable, including upon redemption
prior to maturity,

 

then in such case, the Company shall be
deemed to have satisfied and discharged this Note, provided that if this Note
is to be redeemed prior to maturity, this Note will not be deemed satisfied and
discharged until such Note has been irrevocably called or designated for
redemption on a date when this Note may be called for redemption and proper
notice of redemption has been given as provided herein or the Company has given
the Issuing and Paying Agent irrevocable instructions to give such notice of
redemption.

 

No provision of this Note or of the Issuing
and Paying Agency Agreement shall alter or impair the obligation of the
Company, which is absolute and unconditional, to pay principal, premium, if
any, and interest in respect of this Note at the times, places and rate of
formula, and In the coin or currency, herein prescribed.

 

Prior to due presentment of this Note for
registration of transfer, the Company, the Issuing and Paying Agent and any
agent of the Company or the Issuing and Paying Agent may treat the holder in
whose name this Note is registered as the owner hereof for all purposes,
whether or not this Note be overdue, and neither the Company, the Issuing and
Paying Agent nor any such agent shall be affected by notice to the contrary.

 

Any action by the holder of this Note shall
bind all future holders of this Note, and of any Note issued in substitution
herefor or in place hereof, in respect of anything done or permitted by the
Company or the Issuing and Paying Agent in pursuance of such action.

 

So long as this Note shall be outstanding,
the Company will maintain an office or agency for the payment of the principal
of, premium, if any, and interest on this Note as herein provided in the
Borough of Manhattan, The City of New York, and an office or agency in said
Borough of Manhattan for the registration and transfer as aforesaid of the
Notes. The Company may designate other agencies for the payment of said
principal, premium, if any, and interest at such place or places (subject to
applicable laws and regulations) as the Company may decide. So long as there
shall be an Issuing and Paying Agent, the Company shall keep the Issuing and
Paying Agent advised of the names and locations of such agencies, if any agency
is so designated.

 

Any moneys deposited with the Issuing and
Paying Agent for the payment of the principal of, premium, if any, or interest
on any Senior Notes, and remaining unclaimed at the end of two years after the
last of such principal or interest shall have become due and payable (whether
at maturity or otherwise), shall then be repaid to the Company and upon such
repayment all liability of the Issuing and Paying Agent with respect to such
moneys shall thereupon cease, without, however, limiting in any way any
obligation which the Company may have to pay the principal of, premium, if any,
or interest on this Note as the same shall become due.

 

The Issuing and Paying Agency Agreement and
this Note shall be governed by and construed in accordance with the laws of the
State of New York applicable to agreements made and to be performed entirely in
such State, without regard to principles of conflicts of laws.

 

A-12-

 

EXHIBIT B - FORM OF BOND POWER

 

 [Form of
Bond Power]

 

FOR VALUE
RECEIVED the undersigned Registered Holder(s) hereby sell(s), assign(s) and
transfer(s) unto

 

 

(please print or typewrite name, address,
including postal zip code, and Taxpayer identification number of assignee) the
attached Note and all rights thereunder, hereby irrevocably constituting and
appointing                                         attorney
to transfer said Note on the books of the issuer with full power of
substitution in the premises.

 

In connection with any transfer of the attached
Note of Enogex Inc. (the “Company”), the undersigned confirms that without
utilizing any general solicitation or general advertising:

 

[Check One]

 

[  ]                                                                                  (a)                                      The
Note is being transferred by the undersigned to a “qualified institutional
buyer” (as defined in Rule 144A under the Securities Act of 1933, as
amended (the “Act”)) acting for its own account or for the account of another
“qualified institutional buyer” in reliance upon the exemption from the
registration provisions of Section 5 of the Act provided by Rule 144A
thereunder.

 

or

 

[  ]                                                                                  (b)                                     The
Note is being transferred by the undersigned to an institutional investor and
“accredited investor” (as defined in Rule 501(a)(1)-(3) of Regulation
D under the Act).*

 

 *  If category (b) is checked, the consent
of the Company is required in addition to the completion of this bond power.

 

B-1

 

The Issuing and Paying Agent will not
register the Note in the name of any person other than the Registered Holder(s) thereof
unless (i) one of the foregoing boxes is checked and, in the case of a
transfer described in category (b) hereof, the consent of the Company is
obtained or (ii) the other conditions to any such transfer of registration
set forth on the face of the Note and in Section 12 of the Issuing and
Paying Agency Agreement shall have been satisfied.

 

	
  Dated:

  	
   

  	
   

  	
  By:

  	
   

  
	
   

  
	
   

  	
  NOTICE: The signature of the Registered
  Holder(s) to this

  assignment must correspond with the name as
  written upon the

  face of the attached Note.

  

 

TO BE COMPLETED BY PURCHASER

IF (a) ABOVE IS CHECKED:

 

The undersigned represents and warrants that
it is a “qualified institutional buyer” (as defined in Rule 144A under the
Act) and that it is acquiring the Note for its own account or for the account
of another “qualified institutional buyer”. 
The undersigned acknowledges that it has received such information
regarding the Company as the undersigned has requested pursuant to Rule 144A
or has determined not to request such information and that it is aware that the
Registered Holder(s) is relying upon the foregoing representations in
order to claim the exemption from the registration provisions of Section 5
of the Act provided by Rule 144A. 
The undersigned acknowledges that the Note cannot be resold unless
registered under the Act or pursuant to an exemption from registration under
the Act.

	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  (Name of Transferee)

  
	
   

  	
   

  	
   

  
	
  Dated:

  	
   

  	
   

  	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  NOTICE: To be executed by an executive
  officer.

  
						

 

B-2

 

TO BE COMPLETED BY PURCHASER

IF (b) ABOVE IS CHECKED:

 

The undersigned represents and warrants that
it is an institutional investor and an “accredited investor” (as defined in Rule 501(a)(1)-(3) of
Regulation D under the Act) that it is not acquiring the Note with a view to
any distribution or resale thereof in violation of the Act.  The undersigned acknowledges that the Note
cannot be resold unless registered under the Act or pursuant to an exemption
from registration under the Act.

	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  (Name of Transferee)

  
	
   

  	
   

  
	
  Dated:

  	
   

  	
   

  	
  By:

  	
   

  
	
   

  	
   

  
	
   

  	
  NOTICE: To be executed by an executive
  officer.

  
					

 

B-3Filed by Automated Filing Services Inc. (604) 609-0244 - MOBIVENTURES INC. - Exhibit 10.1

EXHIBIT 10.1 

MOBIVENTURES INC.

 and

THE SHAREHOLDERS

OF MOVE2MOBILE LIMITED

 

EQUITY SHARE PURCHASE AGREEMENT

 

EQUITY SHARE PURCHASE AGREEMENT

THIS AGREEMENT (the “Agreement”) is made effective as of
March 14, 2008 (the “Effective Date”), 

AMONG:

The shareholders of Move2Mobile
Limited (“M2M” or the “Company”), each of whose names and addresses are set out
in Schedule 1 hereto 

(each a “Vendor” and
collectively the “Vendors”)

AND:

MOBIVENTURES INC., a Nevada
corporation with an address at Sunnyside, Brinkworth, Chippenham, Wiltshire,
SN15 5BY, EnglandEngland 

(the “Purchaser”)

WHEREAS:

	(A) 	
      The share capital of the Company is comprised of £168.096
      divided into 16809 Ordinary Shares of £0.01 (together, the “M2M
      Shares”).

	 	 
	(B) 	
      Further particulars of M2M at the date of this agreement
      are set out in Schedule 2.

	 	 
	(C) 	
      The Vendors are the legal and beneficial owners of, or
      are otherwise able to procure the transfer of, the legal and beneficial
      title to the number of M2M Shares set out opposite their respective names
      in Schedule 1 comprising in aggregate the whole of the issued share
      capital of the Company.

	 	 
	(D) 	
      The Vendors have agreed to sell and the Purchaser has
      agreed to buy the M2M Shares subject to the terms and conditions of this
      Agreement.

THIS AGREEMENT WITNESSES THAT the Parties, intending to
be legally bound, covenant and agree as follows:

PART 1

DEFINITIONS AND INTERPRETATION

Definitions

1.1 In this Agreement, including the recitals and schedules,
the following words and phrases have the following meanings:

(a) “Affiliate” means any
officer, director, shareholder or employee of any company or any member of the
immediate family (limited to a spouse, parent or child) of any such officer,
director, shareholder or employee, and any corporation;

(b) “Assets” means all property
or assets of any nature or kind, whether real property or personal property,
tangible or intangible;

- 2 -

(c) “Business Day” means any
day, other than a Saturday, Sunday or public holiday, when banks in London,
England are open for business;

(d) “Closing” means the
completion of the purchase and sale of the M2M Shares on the terms and subject
to the conditions contained in this Agreement;

(e) “Closing Date” means the
date of Closing, as determined in accordance with §2.3 of this Agreement;

(f) “Company” means Move2Mobile
Limited, a company incorporated under the laws of England and Wales, with a
registration number 4564149 and a registered office at Sunnyside,
Brinkworth, Chippenham, Wiltshire, SN15 5BY, England, further details of which
are set out in Schedule 2;

(g) “Consents and Approvals”
means all necessary consents and approvals required to be obtained in connection
with the execution and delivery by the Vendors of this Agreement and the
consummation of the transactions described herein, as listed in the Disclosure
Schedule, which consents and approvals will include all consents and approvals
required to be obtained under all licenses and permits held by the Company for
the conduct and operation of its business in order that the Purchaser, through
its subsidiaries, will have the full benefit of such licenses and permits
following Closing;

(h) “Disclosure Schedule” means
the disclosure schedule attached as Schedule 3. The Disclosure Schedule will be
arranged in sections corresponding to the numbered and lettered sections
contained in this Agreement and the disclosure in any section qualifies other
sections in this Agreement. A bundle of documents may be included with such
Disclosure Schedule;

(i) “Employees and Contractors”
means all individuals who are full-time, part-time or temporary employees or
individuals engaged on contract to provide employment or similar services in
respect of the Company;

(j) “Encumbrance” means any
lien, claim, charge, pledge, hypothecation, security interest, mortgage, title
retention agreement, option, assignment, license or other encumbrance or adverse
claim of any nature or kind whatsoever;

(k) “Financial Statements” means
(i) the audited financial statements of the Company for the fiscal years ended
October 31, 2007 and October 31, 2006, each attached as Schedule 4, together
with (ii) the interim financial statements for the Company for the three months
periods ended January 31, 2007 and 2006; 

(l) “GAAP” means generally
accepted accounting principles determinations of an accounting nature in respect
of the Company which will be made in a manner consistent with GAAP and past
practice with no changes in the method of application of the Company’s
accounting policies or changes in the method of applying the Company’s use of
estimates 

(m) “Government Entity” means
(i) any international, multinational, national, federal, provincial, state,
municipal, local or other government or public department, central bank, court,
commission, board, bureau, agency or instrumentality, domestic or foreign, (ii)
any subdivision or authority of any of the foregoing, or (iii) any
quasi-government or private body, in each case, having jurisdiction on behalf of
any nation, province, territory, state or other geographic subdivision thereof
and exercising any regulatory, judicial, legislative, expropriation or taxing
authority;

(n) “Intellectual Property”
means, in respect of a Person, all patents (including utility patents, design
patents, registered industrial designs, utility models and certificates of
addition), patent applications, copyright, trade marks (including trade names,
business names and service marks), semiconductor topography rights, information
rights in computer software and databases, internet domain names, know-

- 3 -

how, trade secrets, other similar
instruments or rights, whether registered or unregistered, and all rights in
relation to any of the foregoing which are recognized in any jurisdiction, of
the Person;

(o) “M2M Shares” 16,809 Issued
Ordinary Shares of £0.01 each in the Company, all of which have been issued and
are fully paid, and “M2M Share” means any one of them;

(p) “Material Contracts” means
any agreements or arrangements to which the Company is a party or is bound by
and which is of material importance to the business, profits or assets of the
Company;

(q) “Party” means each party to
this Agreement individually and “Parties” mean each Party
collectively;

(r) “Person” includes an
individual, corporation, limited liability corporation, unlimited liability
company, body corporate, partnership, limited partnership, joint venture,
association, trust or unincorporated organization or any trustee, executor,
administrator or other legal representative thereof or any other entity
(including a Government Entity);

(s) “Purchase Price” has the
meaning ascribed to it in § 2.2;

(t) “Purchaser Shares” the
shares of common stock, par value $0.001 per share of the Purchaser to be
allotted and issued credited as fully paid to the Vendors in part satisfaction
of the Purchase Price; 

(u) “Purchaser’s Closing
Documents” means the closing documents set forth in §8.3 to be delivered by
the Purchaser on or before the Closing Date;

(v) “Purchaser’s Solicitors”
means Lang Michener LLP;

(w) “SEC” means the United
States Securities and Exchange Commission;

(x) “Securities Act” means the
United States Securities Act of 1933, as amended; 

(y) “Vendors’ Closing Documents”
means the closing documents set forth in §8.2 to be delivered by the Vendors and
the Company on or before the Closing Date; and

(z) “Warrantors” means those
persons whose names are set out in Part 2 of Schedule 1.

Schedules

1.2 The following schedules are attached to, form part of, and
are hereby incorporated by reference into this Agreement:

Schedule 1 – Vendors and Warrantors

Schedule 2 – Details of the Company

Schedule 3 - Disclosure Schedule 

Schedule 4 – Financial Statements 

Schedule 5 – List of Material
Contracts 

Schedule 6 – Investment Agreement

- 4 -

1.3 Clause and schedule headings do not affect the
interpretation of this Agreement. 1.4 Words in the singular include the plural
and in the plural include the singular. 1.5 A reference to one gender includes a
reference to the other gender.

1.6 A reference to a particular statute, statutory provision or
subordinate legislation is a reference to it as it is in force from time to time
taking account of any amendment or re-enactment and includes any statute,
statutory provision or subordinate legislation which it amends or re-enacts and
subordinate legislation for the time being in force made under it. Provided
that, as between the parties, no such amendment or re-enactment made after the
date of this agreement shall apply for the purposes of this agreement to the
extent that it would impose any new or extended obligation, liability or
restriction on, or otherwise adversely affect the rights of, any party. 

1.7 Writing or written includes faxes but not e-mail.

1.8 Documents in agreed form are documents in the form agreed
by the parties or on their behalf and initialled by them or on their behalf for
identification.

1.9 References to clauses and schedules are to the clauses and
schedules of this agreement; references to paragraphs are to paragraphs of the
relevant schedule.

1.10 Unless otherwise expressly provided, the obligations and
liabilities of the Vendors under this Agreement are joint and several.

1.11 Reference to this agreement include this agreement as
amended or varied in accordance with its terms.

PART 2

PURCHASE AND SALE

Purchase and Sale of M2M Shares

2.1 In reliance on the representations and warranties, and on
the terms and subject to the conditions contained in this Agreement, at the
Closing, the Purchaser will purchase from the Vendors, and each of the Vendors
will sell, assign and transfer to the Purchaser, the M2M Shares held by each of
them with full title guarantee, free and clear of all Encumbrances and together
with all rights that attach (or may attach in the future) to them including, in
particular, the right to receive all dividends and distributions declared, made
or paid on or after the date of this Agreement. 

Purchase Price

2.2 The total purchase price payable by the Purchaser
collectively to the Vendors for the M2M Shares (the “Purchase Price”) is
$4,200,000 to be satisfied by the issue of promissory notes for the payment of
cash consideration and by the allotment and issue by the Purchaser on the
Closing Date of Purchaser’s Shares, as set out below the Purchaser, together
with an additional payment as set out in Clause 2.2.1:

(a) the allotment and issue to the
Vendors of an aggregate number of shares in the common stock of the Purchaser,
credited as fully paid, (the “Purchaser’s Shares”) as shall have an
aggregate value of $2,000,000 on Closing to be converted upon the average of the
close price on each of the 5 days preceding the date of Closing, apportioned
between the Vendors in the proportions set out opposite their respective names
in Schedule 1.

(b) the allotment and issue to the
Vendors of an aggregate number of Purchaser’s Shares on the 12 month anniversary
date of Closing as shall have an aggregate value of $500,000 to be converted
upon the 

- 5 -

average of the close price on each of
the 5 days preceding the 12 month anniversary date of Closing, apportioned
between the Vendors in the proportions set out opposite their respective names
in Schedule 1.

(c) the allotment and issue to the
Vendors of an aggregate number of Purchaser’s Shares on the 24 month anniversary
date of Closing as shall have an aggregate value of $200,000 to be converted
upon the average of the close price on each of the 5 days preceding the 24 month
anniversary date of Closing, apportioned between the Vendors in the proportions
set out opposite their respective names in Schedule 1.

(d) The allotment and issue to the
Vendors of promissory notes executed by the Purchaser in favour of the Vendors
representing the obligation of the Purchaser to complete the following payments,
in aggregate:

(i) the payment of $500,000 to the
Vendors on the 31st October 2008, in the proportions set out opposite
their respective names in Schedule 1.

(ii) the payment of $500,000 to the
Vendors on the 12 month anniversary date of Closing, in the proportions set out
opposite their respective names in Schedule 1.

(iii) the payment of $500,000 to the
Vendors on the 24 month anniversary date of Closing, in the proportions set out
opposite their respective names in Schedule 1.

2.2.1 Additional payments will be made dependent upon the
performance of the Company as follows:

Further payments will be made over the
2 year period for the years of the Company ended 31st October 2008 and 2009 in
the event that performance of the Company exceeds the following forecasts for
these 2 years. These payments will be based on 2 criteria: a) net profit and b)
the value of the portfolio at the end of the earn out period. 

If Net Profit, as defined below,
exceeds the following figures in the fiscal years ended 31st October,
2008 or 2009, further payments (in the form of additional shares of the
Purchaser’s common stock) would be made as follows:

  	Profit exceeds following
        figures 	Shares
        to be issued 
	2008 – net profit exceeds $100,000 	$1 of Purchaser shares to be converted upon the
      average of the close price on each of the 5 days preceding the date of
      31st October 2008 for every $1 of net profit above $100,000
  
	2009 – net profit exceeds $300,000 	$1 of Purchaser shares to be converted upon the
      average of the close price on each of the 5 days preceding the date of
      31st October 2009 for every $1 of net profit above $300,000
  

Net Profit: in relation to the
financial years ended 31 October 2008 and 2009 shall be defined as the net
profit of the Company as shown in the independently audited accounts of the
Company for that period:

	 	(a) 	
      before deducting taxation on profit;

	 	 	 
	 	(b) 	
      after deducting profits or adding back losses of a
      capital nature arising on the disposal of, or on the revaluation of,
      assets or investments of the Company; and

	 	 	 
	 	(c) 	
      excluding the effect of any transactions after Closing
      that are not in the ordinary course of business of the Company, or that
      are not made at arm's length and on market
terms.

- 6 -

The Purchaser shall use its reasonable
endeavours to ensure that the accounts of the Company are audited within three
month of the last day of each Financial Year for the years 2008 and 2009. 

The Purchaser shall, within sixty days
of receiving the audited accounts of the Company for each Financial Year for the
years 2008 and 2009, send to the Vendor[s]:

	 	(d) 	
      a copy of the audited accounts of the Company;
  and

	 	 	 	 
	 	(e) 	
      a certificate issued by the Purchaser's accountants
      stating:

	 	 	 	 
	 		(i) 	
      the Net Profit for the relevant Financial Year;

	 	 	 	 
	 		(ii) 	
      any adjustments made to the audited accounts in arriving
      at the Net Profit; and

	 	 	 	 
	 		(iii) 	
      the amount of the additional payment (if any) payable in
      respect of that year.

The Vendors have thirty days, starting
with the day on which they receive the audited accounts and certificate referred
to above, within which [jointly] to give notice to the Purchaser that they do
not accept the accuracy of the certificate. If the majority (over 75% of the
shares held by the Vendors) of Vendors do not [jointly] give notice, they are
all deemed to have accepted the certificate as accurate at the expiry of the
thirtieth day period.

Where the Vendors jointly give notice
that they do not accept the accuracy of the certificate, the parties have
fifteen days, starting with the day on which the Purchaser receives the notice,
within which to resolve any disagreement relating to the certificate. The
parties shall use their best endeavours to resolve the disagreement within that
period.

Where the parties are unable to resolve
their disagreement within the fifteen day period, the calculation of the Net
Profit and additional payment for the relevant Financial Year shall be referred
to an independent party appointed jointly by the Purchaser and the Vendor. 

The Purchaser shall make the additional
payment due to Vendors [by the allotment and issue of Purchaser’s Shares] in the
proportions set opposite the Sellers' names in Schedule 1 as shall have an
aggregate value of the incremental amount of the Net Profit gained over and
above the forecast outlined above in that Financial Year to be converted upon
the average of the close price on each of the 5 days preceding the payment, for
that year within a period of thirty days starting with the day on which:

	 	a) 	
      the Vendors accept or are deemed to have accepted the
      certificate relating to the additional payment for that year as accurate;
      or

	 	 	 
	 	b) 	
      the parties have resolved all disagreements on that
      certificate; or

	 	 	 
	 	c) 	
      the parties receive notice of the Expert's decision on
      the additional payment for that year.

Save as otherwise provided, the parties
shall each bear their own costs incurred in the preparation of the certificate
and the agreement of the Net Profits and Additional payments.

- 7 -

If the portfolio value (the value of
all equity held in 3rd party companies by the Company) at the end of
2009, calculated using the same methodology (discounted cash flow) as
that at closure and verified by an independent 3rd party, exceeds the
following figures, further payments (in the form of additional shares) would be
made as follows:

	Portfolio value exceeds following figures 	Shares to be issued 
	
      2009 – portfolio value exceeds $8,500,000 

       

      This target valuation will be reduced by 3.5% per month for each month
      that the Closing (and therefore working capital) is delayed beyond
      31st January 2008 
	$1 of Purchaser shares to be converted upon the
      average of the close price on each of the 5 days preceding the date of
      31st October 2009 for every $1 of Portfolio Value above
      $8,500,000 

The above agreement is predicated upon
Purchaser providing working capital for the Company as follows: 1. $83,333 per
each month from Closing to 31st October 2009 

The target valuation will be reduced by
3.5% per month for each month that the working capital is not available after
closing.

The total working capital supplied by
the Purchaser by 31st October 2009will be deducted from the portfolio
value at the end of the earn out period i.e 31 October 2009 to arrive at the
portfolio value above. 

Closing

2.3 The Closing will take place as soon as possible following
satisfaction by each of the Vendors and the Purchaser of the conditions
precedent set forth in Section 7 of this Agreement. 

- 8 -

Issuance of the Purchaser Shares 

2.4 Each Vendor acknowledges and agrees with the Purchaser as
follows, provided that each Vendor that is a resident of the U.S., a U.S.
Person, or who is in the United States at the time of the execution of this
Agreement shall execute and deliver the Investment Agreement attached hereto as
Schedule 6 and shall be deemed to make the agreements, representations and
warranties set forth therein in lieu of the following:

Regulation S. The Purchaser Shares will be offered and
sold to the Vendors without such offers and sales being registered under the
United States U.S. Securities Act of 1933 and will be issued to the Vendor in
accordance with Rule 903 of Regulation S of the U.S. Securities Act in an
“offshore transaction” within the meaning of Regulation S based on the
representations and warranties of the Vendor in this Agreement. As such, each
Vendor further acknowledges and agrees that all Purchaser Shares will, upon
issuance, be “restricted securities” within the meaning of the U.S. Securities
Act.

Agreement Regarding Resale. The Vendor agrees to resell
the Purchaser Shares only in accordance with the provisions of Regulation S of
the U.S. Securities Act, pursuant to registration under the U.S. Securities Act,
or pursuant to an available exemption from registration pursuant to the U.S.
Securities Act, and otherwise in accordance with all applicable state securities
laws and the laws of any other jurisdiction. The Vendor agrees that the
Purchaser may require the opinion of legal counsel reasonably acceptable to the
Purchaser in the event of any offer, sale, pledge or transfer of any of the
Purchaser Shares by the Vendor pursuant to an exemption from registration under
the U.S. Securities Act. 

Prohibition Against Hedging Transactions. The Vendor
agrees not to engage in hedging transactions with regard to the Purchaser Shares
unless in compliance with the U.S. Securities Act.

No Obligation to Register. The Vendor acknowledges that
the Purchaser has not agreed and has no obligation to register the resale of the
Purchaser Shares under the U.S. Securities Act however the Purchaser will attach
piggyback registration rights to the shares.

Share Certificates. The Vendor acknowledges and agrees
that all certificates representing the Purchaser Shares will be endorsed with
the following legend in accordance with Regulation S of the U.S. Securities Act
or such similar legend as deemed advisable by legal counsel for the Purchaser to
ensure compliance with Regulation S of the U.S. Securities Act and to reflect
the status of the Purchaser Shares as restricted securities: 

  
    “THE SECURITIES REPRESENTED BY THIS CERTIFICATE
      HAVE NOT BEEN REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933 (THE "ACT"),
      AND HAVE BEEN ISSUED IN RELIANCE UPON AN EXEMPTION FROM THE REGISTRATION
      REQUIREMENTS OF THE ACT PROVIDED BY REGULATION S PROMULGATED UNDER THE ACT.
      SUCH SECURITIES MAY NOT BE REOFFERED FOR SALE OR RESOLD OR OTHERWISE TRANSFERRED
      EXCEPT IN ACCORDANCE WITH THE PROVISIONS OF REGULATION S, PURSUANT TO AN
      EFFECTIVE REGISTRATION UNDER THE ACT, OR PURSUANT TO AN AVAILABLE EXEMPTION
      FROM REGISTRATION UNDER THE ACT. HEDGING TRANSACTIONS INVOLVING THE SECURITIES
      MAY NOT BE CONDUCTED UNLESS IN COMPLIANCE WITH THE ACT”. 

  

- 9 -

PART 3

REPRESENTATIONS AND WARRANTIES IN RESPECT OF THE
VENDOR

Representations and Warranties in Respect of the
Vendor

3.1 Each of the Vendors severally represent and warrant to the
Purchaser that, as at both the effective date of this Agreement and the Closing
Date as follows, provided that each Vendor that is a resident of the U.S., a
U.S. Person, or who is in the United States at the time of the execution of this
Agreement shall execute and deliver the Investment Agreement attached hereto as
Schedule 6 and shall be deemed to make the agreements, representations and
warranties set forth therein in lieu of subparagraphs (h) and (i) below

(a) Capacity – the Vendor has
all necessary legal right and capacity to execute and deliver this Agreement, to
transfer the legal and beneficial title and ownership of the M2M Shares owned by
the Vendor to the Purchaser, to perform all of the Vendors’ obligations
hereunder and to comply with the terms and provisions of this Agreement, and
this Agreement constitutes a valid and binding obligation of the Vendor in
accordance with its terms,

(b) No Approvals Required – no
authorization, approval, order, license permit or consent of any Government
Entity nor the registration, declaration or filing by the Vendor with any such
Government Entity, to the best knowledge of the vendor, is required in order for
the Vendor

(i) to execute and deliver this
Agreement or any other agreement, certificate or instrument to be executed or
delivered by the Vendor pursuant to or contemplated by this Agreement,

(ii) to incur the obligations
expressed to be incurred by the Vendor pursuant to this Agreement, or

(iii) to duly perform and observe the
terms and provisions of this Agreement,

(c) No Conflict – the Vendor is
not a party to, bound by or subject to any indenture, mortgage, lease,
agreement, instrument, statute, regulation, order, judgment, decree or law which
would be violated, contravened or breached by, or under which any default would
occur or which gives rise to a requirement to obtain any authorization, consent,
approval or waiver from any third Person as a result of, and there are no
actions, claims, suits, litigation, investigations or proceedings pending or
threatened against or affecting the Vendor which would prevent

(i) the execution and delivery by the
Vendor of this Agreement or any other agreement, certificate or instrument to be
executed or delivered by the Vendor pursuant to or contemplated by this
Agreement, or

(ii) the performance by the Vendor of
its obligations pursuant to, or the observance by the Vendor of any of the terms
and provisions of, this Agreement,

(d) No Other Agreements – no
Person (other than the Purchaser) has any agreement, option or right, present or
future, contingent, absolute or capable of becoming an agreement, option or
right to require the Vendor to, sell, transfer, assign or otherwise dispose of
the M2M Shares owned by such Vendor,

(e) Title to Share Capital – the
Vendor owns and has good and marketable title to the Vendor’s M2M Shares as the
legal and beneficial owner thereof, free of all Encumbrances, 

(f) Company Assets – the Vendor
does not have any right or interest in or to any Intellectual Property or other
Asset owned by or used by the Company in its business as presently conducted or
as currently proposed by the Company to be conducted,

- 10 -

(g) Legal Advice– the Vendor
acknowledges and agrees that the Purchaser’s Solicitors have acted as counsel
only to the Purchaser and that the Purchaser’s Solicitors are not protecting the
rights and interests of any other Party and that the Vendor has had the
opportunity to seek and were not prevented from seeking independent legal advice
before the execution and delivery of this Agreement and all other agreements,
certificates or instruments to be executed or delivered by the Vendor pursuant
to or contemplated by this Agreement. If the Vendor did not avail itself of the
opportunity to seek independent legal advice before signing this Agreement, the
Vendor did so voluntarily without any undue pressure and agrees that such
failure to obtain independent legal advice will not be used by the Vendor as a
defence to the enforcement by the Purchaser of the obligations of the Vendor
under this Agreement or such other agreements, certificates or instruments,

(h) Status of Vendor – the
Vendor is not a “U.S. Person” as defined by Regulation S of the U.S. Securities
Act and is not acquiring the Purchaser Shares for the account or benefit of a
U.S. Person. 

A “U.S. Person” is defined by
Regulation S of the Act to be any person who is:

	 	(i) 	
      any natural person resident in the United
  States;

	 	 	 	 
	 	(ii) 	
      any partnership or corporation organized or incorporated
      under the laws of the United States

	 	 	 	 
	 	(iii) 	
      any estate of which any executor or administrator is a
      U.S. person;

	 	 	 	 
	 	(iv) 	
      any trust of which any trustee is a U.S.
person;

	 	 	 	 
	 	(v) 	
      any agency or branch of a foreign entity located in the
      United States;

	 	 	 	 
	 	(vi) 	
      any non-discretionary account or similar account (other
      than an estate or trust) held by a dealer or other fiduciary organized,
      incorporate, or (if an individual) resident in the United States;
    and

	 	 	 	 
	 	(vii) 	
      any partnership or corporation if:

	 	 	 	 
	 		(a) 	
      organized or incorporated under the laws of any foreign
      jurisdiction; and

	 	 	 	 
	 		(b) 	
      formed by a U.S. person principally for the purpose of
      investing in securities not registered under the Act, unless it is
      organized or incorporated, and owned, by accredited Vendors [as defined in
      Section 230.501(a) of the Act] who are not natural persons, estates or
      trusts;

(i) the Vendor was not in the United
States at the time the offer to purchase the Purchaser Shares was received or
this Agreement was executed; 

(j) the Vendor has such knowledge,
sophistication and experience in business and financial matters such that it is
capable of evaluating the merits and risks of the investment in the Purchaser
Shares. The Vendor has evaluated the merits and risks of an investment in the
Purchaser Shares. The Vendor can bear the economic risk of this investment, and
is able to afford a complete loss of this investment;

(k) the Vendor acknowledges that the
Purchaser is in the early stages of development of its business and the
Purchaser’s success is subject to a number of significant risks, including the
risk that the Purchaser will not be able to finance its plan of operations. The
Vendor further acknowledges that (i) the Purchaser has limited cash and working
capital, and (ii) the Purchaser will have to raise additional capital in order
to finance its plan of operations which capital may be raised by the issue of
additional shares of its common stock which will result in dilution to the
Vendor;

(l) the Purchaser Shares will be
acquired by the Vendor for investment for the Vendor's own account, not as a
nominee or agent, and not with a view to the resale or distribution of any part
thereof, and that the 

- 11 -

Vendor has no present intention of
selling, granting any participation in, or otherwise distributing the same. The
Vendor does not have any contract, undertaking, agreement or arrangement with
any person to sell, transfer or grant participations to such person or to any
third person, with respect to any of the Purchaser Shares 

(m) Information Regarding the
Purchaser –the Vendor has been afforded access to information about the
Purchaser and the Purchaser’s financial condition, results of operations,
business, properties, management and prospects sufficient for it to evaluate its
investment in the Purchaser Shares. The Vendor further represents that it has
had an opportunity to ask questions and receive answers from representatives of
the Purchaser regarding the terms and conditions of the offerings completed by
the Purchaser and the business, properties, prospects and financial condition of
the Purchaser, each as is necessary to evaluate the merits and risks of
investing in the Purchaser Shares. The Vendor believes it has received all the
information it considers necessary or appropriate for deciding whether to
purchase the Purchaser Shares. The Vendor has had full opportunity to discuss
this information with the Vendor’s legal and financial advisers prior to
execution of this Agreement;

(n) Reliance by Purchaser on
Representations – the Vendor acknowledges that the Purchaser will rely on
these representations in completing the issuance of the Purchaser Shares to the
Vendor;

(o) the Vendor acknowledges that the
offering of the Purchaser Shares by the Purchaser has not been reviewed by the
SEC or any state securities regulatory authority;

Survival

3.2 The representations and warranties of the Vendor contained
in this Agreement will survive the Closing and continue in full force and effect
for a period of twenty-four (24) months after the Closing Date.

Save for claims in respect of any breach of the Warranties set
out at clause 3.1 arising (or any delay in the discovery of which arises) as a
result of fraud or wilful concealment on the part of any Vendor:

No Vendor shall be liable in respect of any claim for breach of
any of the Warranties:

     (i) unless the aggregate
cumulative amount recoverable from the Vendors in respect of all such claims
shall exceed the sum of $500,000 in which case Vendors shall be liable for the
whole of this liability and not merely for the excess; and

     (ii) unless he shall have been
given written notice of the claim (giving details of the matter in respect of
which such claim is made) within 2 years after any Warranties were last given
whichever is the later.

The Vendors are not liable for any claim:

(i) relates to matters Disclosed in
writing; or
(ii) The Vendors are not liable for any matter related to
the Financial Accounts and these liabilities are solely the responsibility of
the Warrantors as listed in Part 4 of this agreement.

- 12 -

Should the aggregate cumulative amount of $500,000 be exceeded,
the maximum liability of each Vendor for all claims for breach of any Warranties
set out at clause 3. is limited as follows:

	Vendor 	Limit ($) following Closing

	 Nigel Nicholas 	204,647 
	 David Tapsell 	22,696 
	 Danny Wootton 	181,787 
	 Steven Dotsch 	11,729 
	 Deema Freij 	10,930 
	 Kevin Sturge 	10,930 
	 Andrew Monnery 	10,930 
	 Aldridge Professional Services 	24,300 
	 Gordon Anderson 	22,050

It is understood and agreed that the Vendors are only
responsible for the warranties set out in clause 3 and that the Warrantors are
responsible for the warranties set out in clause 4

PART 4

REPRESENTATIONS AND WARRANTIES IN RESPECT OF THE
COMPANY

Representations and Warranties in Respect of the
Company

4.1 The Warrantors represent and warrant to the Purchaser that,
as at both the effective date of this Agreement and the Closing Date, and except
to the extent set forth in the Disclosure Schedule,

(a) Organization and Good Standing
– the Company is duly incorporated and is validly existing and in good
standing under the laws of its jurisdiction of incorporation, and has all
necessary legal and corporate power and authority to own its property and assets
and to carry on its business as presently conducted. The Company have delivered
to the Purchaser complete and correct copies of its corporation documents
including a copy of its certificate of incorporation and a copy of its
memorandum and articles of association, all as may be amended, and the statutory
books of the Company which contain complete and correct copies of all
proceedings and actions taken at all meetings of, or effected by written consent
of, the shareholders and the board of directors (including any committees
thereof) of the Company. The Company is duly qualified, licensed or registered
to carry on business in the jurisdictions where it owns, leases or operates its
property,

(b) No Approvals Required –
except as has been or will be obtained before the Closing Date, no vote or
consent of the holders of any class or series of shares of the Company is
necessary to approve and adopt this Agreement or to consummate any of the
transactions contemplated hereby, and, to the best of the Warrantors’ knowledge,
no authorization, approval, order, license, permit or consent of any Government
Entity nor the registration, declaration or filing by either the Company with
any such Government Entity is required in order for either the Company

(i) to execute and deliver this
Agreement or any other agreement, certificate or instrument to be executed or
delivered by the Company pursuant to or contemplated by this Agreement,

(ii) to incur the obligations
expressed to be incurred by the Company pursuant to this Agreement, or

- 13 -

(iii) to duly perform and observe the
terms and provisions of this Agreement,

(c) No Conflict – subject to
obtaining the Consents and Approvals, to the best of the Warrantors’ knowledge,
the Company is not a party to, bound by or subject to any indenture, mortgage,
lease, agreement, instrument, statute, regulation, order, judgment, decree or
law which would be violated, contravened or breached by, or under which any
default would occur, or which could be terminated, cancelled or accelerated, in
whole or in part, or which allows any Person to exercise any rights or gives
rise to a requirement to obtain any authorization, consent, approval or waiver
from any third Person, as a result of the execution and delivery of this
Agreement or the consummation of any of the transactions provided for
herein,

(d) No Litigation – to the best
of the Warrantors’ knowledge, there is no claim, suit, action, litigation,
arbitration proceeding or Government Entity proceeding, including any appeal or
application for review, in progress, pending or to the knowledge of the
Warrantors, the Company, threatened against, or relating to the Company or
affecting the CompanysM2M’ Assets or business,

(e) Compliance with Laws – the
Company and their Assets, operations and business have been and are being
operated and have been and are, to the best knowledge of the Warrantors, in
material compliance with all laws or orders applicable to its business or
operations. The Company has not received a notice or other communication
alleging a possible violation of any law or order applicable to its business or
operations,

(f) Issued Share Capital – the
issued equity share capital of the Company is comprised of 16,809 Ordinary
shares with a par value of £0.01 (total authorised share capital is. £1000.00)
as of the date of this Agreement, all of which have been validly issued and are
outstanding and registered in the names of the Vendors as set forth in Schedule
1 in accordance with English law,

(g) No Other Agreements – no
Person has any agreement, option or right, present or future, contingent,
absolute or capable of becoming an agreement, option or right, or which with the
passage of time or the occurrence of any event could become an agreement, option
or right, to require the Company to

(i) allot or issue any further or
other share in its capital or any other security convertible or exchangeable
into any share in its capital,

(ii) convert or exchange any security
into or for any share in its capital, or

(iii) purchase, redeem or otherwise
acquire any issued and outstanding share in its capital,

(h) Financial Statements – the
Financial Statements (i) have been derived from and are in accordance with the
books and records of the Company, (ii) have been prepared in accordance with UK
GAAP with a reconciliation to US GAAP in accordance with SEC regulations
consistently applied with past practice, and (iii) fairly present the financial
position of the Company as at each date and the results of operations, cash
flows and the changes in shareholder’s equity for each period reported,

(i) Accuracy of Records – to the
best knowledge of the Warrantors, all financial transactions of the Company have
been fairly reflected in the accounting and financial books and records of the
Company, and such books and records are stated in reasonable detail and fairly
reflect the basis for the Financial Statements,

(j) Bankruptcy – the Company has
not made an assignment in favour of its creditors or a proposal in bankruptcy to
its creditors or any class thereof, and no petition for a receiving order has
been presented in respect of it. the Company has not initiated proceedings with
respect to a compromise or arrangement with its creditors, or for its
winding-up, liquidation or dissolution. No receiver or interim receiver has been
appointed in respect of the Company or its Assets and no execution or distress
has been levied on any of the Company’s Assets, nor have proceedings been
commenced in respect of any of the foregoing,

- 14 -

(k) Absence of Undisclosed
Liabilities – except to the extent disclosed, reflected or reserved against
in the Financial Statements or incurred in the ordinary and normal course of the
business since January 31, 2008, the Company has no outstanding liabilities or
obligations (whether accrued, accruing, absolute, contingent or otherwise) and
all such reserve amounts are adequate based on the past experience of the
Company and are consistent with the accounting procedures used by the Company in
previous fiscal periods and there is nothing which indicates that such reserves
are not adequate or that higher reserves should be taken,

(l) Absence of Changes – since
January 31, 2008 there have not been

(i) any changes in the condition or
operations of the business, Assets or financial affairs of the Company which
are, individually or in the aggregate, materially adverse, or

(ii) any damage, destruction or loss,
labour unrest or other event, development or condition, of any character
(whether or not covered by insurance) which is not generally known or which has
not been disclosed to the Purchaser in writing, or which to the knowledge of the
Warrantor, may materially adversely affect the Assets or the business of the
Company,

(m) Absence of Unusual Transactions
–since January 31, 2008, the Company has not 

(i) transferred, assigned, sold or
otherwise disposed of any Asset shown or reflected in the Financial Statements
or forgiven, cancelled or released any debt or claim, except in the ordinary and
normal course of its business,

(ii) incurred or assumed any
obligation or liability (fixed or contingent), except unsecured current
obligations and liabilities incurred in the ordinary and normal course of its
business,

(iii) issued or sold any share in its
capital or any warrant, bond, debenture or other corporate security or issued,
granted or delivered any right, option or other commitment for the issuance of
any such or other security,

(iv) discharged or satisfied any
Encumbrance, or paid any obligation or liability (fixed or contingent), other
than current liabilities or the current portion of long-term liabilities
disclosed in the Financial Statements or current liabilities incurred since the
date thereof in the ordinary and normal course of its business,

(v) declared or made any payment of
any dividend or other distribution in respect of any of its shares other than in
the agreed upon, nor purchased, redeemed, subdivided, consolidated, or
reclassified any share in its capital,

(vi) entered into any transaction not
in the ordinary and normal course of its business, (vii) made any gift of money
or of any Asset to any Person, (viii) amended or changed or taken any action to
amend or change its corporation documents,

(ix) increased or agreed to increase
the remuneration of, or paid or agreed to pay any pension, share of profits or
other similar benefit to any of its directors, officer or Employees and
Contractors or former directors, officers or Employees and Contractors, other
than in the ordinary and normal course of its business consistent with past
practice and disclosed in writing to the Purchaser,

(x) made any payment of any kind to or
on behalf of the Vendors or any of its Affiliates, other than business related
expenses, salaries and bonuses in the ordinary and normal course of its 

- 15 -

business consistent with past practice
and as disclosed in the Financial Statements or in writing to the Purchaser,

(xi) mortgaged, pledged, subjected to
any lien, granted an option or a security interest in respect of or otherwise
encumbered any of its Assets, or

(xii) authorized or agreed or
otherwise become committed to do any of the foregoing,

(n) Title to Assets – the
Company has legal and beneficial ownership of and good and marketable title to
all its Assets and in its financial books and records, free and clear of all
Encumbrances and none of such Assets is in the possession of or under the
control of any other Person. The Assets owned by the Company represent all
assets used by the Company in the conduct of their business and as are necessary
for the conduct by the Company of their business. No other person has any
interest in any Asset used by either the Company in the conduct of their
business,

(o) Bank Accounts and Powers of
Attorney – the Disclosure Schedule sets out a correct and complete list
showing (i) the name of each bank or other financial institution with which the
Company has an account or safe deposit box and the names of all Persons
authorized to draw on the account or to have access to the safe deposit box, and
(ii) the names of all Persons holding powers of attorney from the Company. True
and complete copies of such powers of attorney, if any, have been provided to
the Purchaser,

(p) Leased Property –the Company
does not own any real property. The Company is not a party to or bound by any
leases of real property other than those set out in the Disclosure Schedule and
all interests held as lessee are free and clear of all Encumbrances. All rental
and other payments required to be paid by under such leases have been duly paid
and there is not otherwise any default in meeting its obligations under any such
lease,

(q) Material Contracts – all
current Material Contracts are set out in the Disclosure Schedule along with
each party thereto, and

(i) each such Material Contract is in
full force and effect and is a valid and binding agreement of either the
Company,

(ii) to the best knowledge of the
Warrantors, the Company have performed or are performing all obligations
required to be performed by it under each such Material Contract and are not in
breach or default thereunder and no other party to any such Material Contract is
in breach or default thereunder, and

(iii) the Warrantor does not know of
any circumstances that are reasonably likely to occur that could reasonably be
expected to adversely affect either the Company’s ability, up to Closing, to
perform its obligations under any Material Contract, 

(r) Shareholder Loans – there
are no shareholder or other loans outstanding in respect of the Company, 

(s) Employees and Contractors –
the Disclosure Schedule contains a complete and accurate list of the Employees
and Contractors, together with their date of hire, title or classification,
current wages, salaries or hourly rate of pay, benefits, vacation entitlement,
commissions and bonus or other material compensation paid since the beginning of
the most recently completed fiscal year or payable to each such Employee and
Contractor as of the date of this Agreement. Except as disclosed in the
Disclosure Schedule, the Company are not a party to any written or oral
contract, agreement or other commitment with any Employee and Contractor. The
Warrantors are not aware of the intention of any Employee and Contractor, who is
an executive or senior officer, to terminate his or her employment,

- 16 -

(t) Insurance – the Company
maintains insurance in force against loss on such Assets, against such risks, in
such amounts and to such limits as is in accordance with prudent business
practices prevailing in its business,

(u) Corporate Records –to the
best knowledge of the Warrantors, the Company have kept all records required to
be kept by applicable corporate legislation,

(v) Permits and Licences – the
Company hold all authorizations, approvals, orders, licenses, permits or
consents issued by any Government Entity which are necessary in connection with
the conduct and operation of its business as it is currently conducted and the
ownership, leasing or use of its Assets as the same are now owned, leased, used
conducted or operated. the Company is not, to the best knowledge of the
Warrantors, in material breach of or in default under any of the terms or
conditions thereof, and all such authorizations, approvals, orders, licences,
permits and consents issued by a Government Entity are listed in the Disclosure
Schedule,

(w) Tax Filings and Payments –
the Company

(i) has kept and maintained complete
and accurate accounting records, invoices and other documents appropriate or
requisite and all proper returns and payments for taxation purposes have duly
and punctually made, including for the avoidance of doubt all payments in
respect of VAT, PAYE and National Insurance Contributions.

(ii) In the six years prior to the date
of this agreement there have been no disputes or disagreements with any tax
authority, and there are no unsettled or outstanding assessments or appeals, in
either such case in respect of taxation and there are no circumstances which may
give rise to such a dispute or disagreement after Closing.

(x) Indebtedness to Related Parties
– except for the payment of salaries and other compensation payable in the
ordinary and normal course and reimbursement for out-of-pocket expenses in the
ordinary and normal course and amounts disclosed in the Financial Statements or
the Disclosure Schedule, the Company are not indebted to the Vendors, Employees
and Contractors, or any Affiliate thereof, 

(y) Conduct of Business – to the
knowledge of the Warrantors, the Company is not conducting its business in
material contravention of any Material Contract, law, regulation or of any
direction of a Government Entity,

(z) Condition of Assets – all
tangible Assets used by the Company in connection with its business are in good
operating condition and in a good state of maintenance and repair, reasonable
wear and tear excepted,

(aa) Intellectual Property –

(i) the Disclosure Schedule lists all
Intellectual Property (other than unregistered copyrights, know-how, trade
secrets and off-the-shelf office productivity software) and all registration
applications therefor owned by or licensed to the Company that is material to
their business. The Warrantors have delivered to the Purchaser complete and
correct copies of all license agreements to which the Company are party relating
to such Intellectual Property. The conduct of the business of the Company, as
presently conducted and as currently proposed by the Company to be conducted,
does not, to the best knowledge of the Warrantors, conflict with, or result in
any violation of, or default under, or give rise to any right, license or
encumbrance relating to, Intellectual Property owned by the Company or with
respect to which the Company now has or has had any contract with any third
party, or any right of termination, cancellation or acceleration of any
Intellectual Property right or obligation set forth in any contract to which the
Company is a party, or the loss or encumbrance of any Intellectual Property or
benefit related thereto, or result in 

- 17 -

the creation of any Encumbrance in or
upon any Intellectual Property or right owned or used by the Company,

(ii) the Company uses all Intellectual
Property that it does not own only in the manner and for the purposes authorized
and specified by the owner or licensor of such Intellectual Property, and to the
extent the Company has granted exclusive rights to Intellectual Property to
another Person, the Company has not used such Intellectual Property for any
purpose, including for development purposes or sale or distribution, except to
such other Person,

(iii) the Company owns, or is licensed
or otherwise has the right to use, in each case, without ongoing payments to
third parties except as disclosed in the Disclosure Schedule, and free and clear
of any Encumbrances, all Intellectual Property used in or necessary to carry on
its business as presently conducted or as currently proposed by the Company to
be conducted,

(iv) the Company has not been notified
by any Person that its planned products and services infringe upon or otherwise
violate the rights of any Person with regard to any Intellectual Property owned
by, licensed to or otherwise used by such Person,

(v) to the best knowledge of the
Warrantors, no Person is infringing on or otherwise violating any right of
either the Company with respect to any Intellectual Property owned by, licensed
to or otherwise used by the Company,

(vi) each current or former officer,
Employee and Contractor or consultant of the Company has assigned and
transferred, or on or before the Closing Date will have assigned and
transferred, to the Company all ownership and other rights of any nature
whatsoever of such Person in any Intellectual Property claimed to be owned by
the Company, no current or former director of either the Company has any
ownership or other rights of any nature whatsoever in any Intellectual Property
claimed to be owned by the Company and no current or former director, officer,
Employee and Contractor or consultant of the Company (or any member of their
immediate families) has a valid claim against either the Company in connection
with the involvement of such Persons in the conception and development of any
computer software or other Intellectual Property of the Company, and

(vii) except as set forth in the
Disclosure Schedule, the Company does not own title to or uses any registered
service mark, trade name or trademark, or, to the best knowledge of both the
Warrantors, any service mark, trade name or trademark in which a third Person
has any legal interest, except with the consent of such third person,, and

(bb) Undisclosed Information –
the Warrantors do not have any material information which is not generally known
or which has not been disclosed in writing to the Purchaser by either the
Company and/or the Vendors and which if known could reasonably be expected to
have a material adverse effect on the value of the either M2M Shares, or the
Assets or business of the Company.

Other Representations

4.2 All statements contained in any written certificate or
other written instrument delivered by or on behalf of the Warrantors or the
Company pursuant to this Agreement will be deemed to be representations and
warranties by the Warrantor hereunder. 

Reliance

4.3 The Warrantors acknowledge and agree that the Purchaser has
entered into this Agreement relying on the warranties and representations and
other terms and conditions of this Agreement.

- 18 -

Survival

4.4 The representations and warranties of the Warrantors
contained in this Agreement will survive the Closing and continue in full force
and effect for a period of twenty-four (24) months after the Closing
Date

Save for claims in respect of any breach of the Warranties set
out in clause 4.1 arising (or any delay in the discovery of which arises) as a
result of fraud or wilful concealment on the part of any Warrantor:

No Warrantor shall be liable in respect of any claim for breach
of any of the Warranties:

     (i) unless the aggregate
cumulative amount recoverable from the Warrantors in respect of all such claims
shall exceed the sum of $500,000 in which case the Warrantors shall be liable
for the whole of this liability and not merely for the excess; and

     (ii) unless he shall have been
given written notice of the claim (giving details of the matter in respect of
which such claim is made) within 2 years after any Warranties were last given
whichever is the later.

The Warrantors are not liable for any claim:

(i) relates to matters Disclosed; or

(ii) relates to any matter specifically and fully provided for
in the Financial Accounts.

Should the aggregate cumulative amount of $500,000 be exceded,
the maximum liability of each Warrantor for all claims for breach of any
Warranties set out in clause 4.1 is limited as follows:

	Vendor 	Limit ($) following
      Closing 
	 Nigel Nicholas 	 250,000 
	 Danny Wootton 	 250,000 

PART 5

REPRESENTATIONS AND WARRANTIES OF THE PURCHASER

Representations and Warranties in Respect of the
Purchaser

5.1 The Purchaser represents and warrants to the Vendor that as
at both the effective date of this Agreement and the Closing Date

(a) Organization and Good Standing
– the Purchaser is duly incorporated under the laws of its jurisdictions of
incorporation and is validly existing and in good standing with respect to the
filing of annual returns under such laws,

(b) Authority – the Purchaser
has all necessary corporate right, authority, power and capacity to execute and
deliver this Agreement, to acquire the M2M Shares, to perform all of its
obligations hereunder and to comply with the terms and provisions of this
Agreement and this Agreement constitutes a valid and binding obligation of the
Purchaser in accordance with its terms,

(c) No Approvals Required
–except for filings required by applicable securities legislation, no
authorization, approval, order, license, permit or consent of any Government
Entity, regulatory body or court nor the registration, declaration or filing by
the Purchaser with any such Government Entity, regulatory body or court is
required in order for the Purchaser

- 19 -

(i) to execute and deliver this
Agreement or any other agreement, certificate or instrument to be executed or
delivered by the Purchaser pursuant to or contemplated by this Agreement,

(ii) to incur the obligations
expressed to be incurred by the Purchaser pursuant to this Agreement, or

(iii) to duly perform and observe the
terms and provisions of this Agreement,

(d) No Conflict – the Purchaser
is not a party to, bound by or subject to any indenture, mortgage, lease,
agreement, instrument, statute, regulation, order, judgment, decree or law which
would be violated, contravened or breached by, or under which any default would
occur as a result of

(i) the execution and delivery by the
Purchaser of this Agreement or any other agreement, certificate or instrument to
be executed or delivered by the Purchaser pursuant to or contemplated by this
Agreement, or

(ii) the performance by the Purchaser
of its obligations pursuant to, or the observance by the Purchaser of any of the
terms and provisions of, this Agreement,

(e) Capitalization – the
authorized capital of the Purchaser consists of 300,000,000 shares of common
stock and 5,000,000 shares of preferred stock, of which 48,027,021 shares of
common stock and no shares of preferred stock are outstanding as at the
Effective Date In addition, warrants to purchase an aggregate of
5,994,577 shares in the Purchaser’s Common Stock have been issued and options to
purchase an aggregate of 71,369 shares in the Purchaser’s Common Stock have been
issued.

(f) Purchaser Shares – upon
issuance to the Vendor in accordance with this Agreement, the Purchaser Shares
will be validly issued, fully paid and non-assessable shares of the common stock
of the Purchaser,

(g) Outstanding Rights to Purchase
Shares –other than set forth in Section 5.1(e) the Purchaser has not issued
or committed to issue any shares, common share purchase warrants or options to
purchase Shares, 

(h) No Litigation – there is no
claim, suit, action, litigation, arbitration proceeding or Government Entity
proceeding, including any appeal or application for review, in progress, pending
or to the knowledge of the Purchaser threatened against, or relating to the
Purchaser or affecting the Purchaser’s Assets or business, and

(i) Compliance with Laws – the
Purchaser and its Assets, operations and business have been and are being
operated and have been and are in material compliance with all laws or orders
applicable to its business or operations. The Purchaser has not received a
notice or other communication alleging a possible violation of any law or order
applicable to its business or 

(j) Bankruptcy – the Purchaser
has not made an assignment in favour of its creditors or a proposal in
bankruptcy to its creditors or any class thereof, and no petition for a
receiving order has been presented in respect of it. The Purchaser has not
initiated proceedings with respect to a compromise or arrangement with its
creditors, or for its winding-up, liquidation or dissolution. No receiver or
interim receiver has been appointed in respect of the Purchaser or its Assets
and no execution or distress has been levied on any of the Purchaser’s Assets,
nor have proceedings been commenced in respect of any of the foregoing,

(k) Absence of Changes – since
January 31, 2008 there have not been

(i) any changes in the condition or
operations of the business, Assets or financial affairs of the Purchaser which
are, individually or in the aggregate, materially adverse, or

- 20 -

(ii) any damage, destruction or loss,
labour unrest or other event, development or condition, of any character
(whether or not covered by insurance) which is not generally known or which has
not been disclosed to the Vendors in writing, or which may materially adversely
affect the Assets or the business of the Purchaser,

(l) Absence of Unusual Transactions
– since January 31, 2008, the Purchaser has not 

(i) transferred, assigned, sold or
otherwise disposed of any Asset or forgiven, cancelled or released any debt or
claim, except in the ordinary and normal course of its business operations,

(ii) incurred or assumed any
obligation or liability (fixed or contingent), except unsecured current
obligations and liabilities incurred in the ordinary and normal course of its
business,

(iii) issued or sold any share in its
capital or any warrant, bond, debenture or other corporate security or issued,
granted or delivered any right, option or other commitment for the issuance of
any such or other security,

(iv) discharged or satisfied any
Encumbrance, or paid any obligation or liability (fixed or contingent), other
than current liabilities or the current portion of long-term liabilities
disclosed in the Purchaser’s financial statements or current liabilities
incurred since the date thereof in the ordinary and normal course of its
business,

(v) declared or made any payment of
any dividend or other distribution in respect of any of its shares other than in
the agreed upon, nor purchased, redeemed, subdivided, consolidated, or
reclassified any share in its capital,

(vi) entered into any transaction not
in the ordinary and normal course of its business, (vii) made any gift of money
or of any Asset to any Person, (viii) amended or changed or taken any action to
amend or change its corporation documents,

(ix) increased or agreed to increase
the remuneration of, or paid or agreed to pay any pension, share of profits or
other similar benefit to any of its directors, officer or employees and
contractors or former directors, officers or employees and contractors, other
than in the ordinary and normal course of its business,

(x) made any payment of any kind to or
on behalf of the Purchaser or any of its Affiliates, other than business related
expenses, salaries and bonuses in the ordinary and normal course of its business
consistent with past practice,

(xi) mortgaged, pledged, subjected to
any lien, granted an option or a security interest in respect of or otherwise
encumbered any of its Assets, or

(xii) authorized or agreed or
otherwise become committed to do any of the foregoing,

(m) Tax Filings and Payments –
the Purchaser

- 21 -

(i) has kept and maintained complete
and accurate accounting records, invoices and other documents appropriate or
requisite and all proper returns and payments for taxation purposes have duly
and punctually made, including for the avoidance of doubt all payments in
respect of IRS (i.e. VAT, all taxes payable on salaries and income taxes).

(ii) In the six years prior to the
date of this agreement there have been no disputes or disagreements with any tax
authority, and there are no unsettled or outstanding assessments or appeals, in
either such case in respect of taxation and there are no circumstances which may
give rise to such a dispute or disagreement after Closing.

Other Representations

5.2 All statements contained in any written certificate or
other written instrument delivered by or on behalf of the Purchaser pursuant to
this Agreement will be deemed to be representations and warranties by the
Purchaser hereunder.

Reliance

5.3 The Purchaser acknowledges and agrees that the Vendors have
entered into this Agreement relying on the warranties and representations and
other terms and conditions of this Agreement.

Survival

5.4 The representations and warranties of the Purchaser
contained in this Agreement will survive the Closing and continue in full force
and effect for a period of twenty-four [24] months after the Closing
Date.

PART 6

PRE-CLOSING COVENANTS

Conduct of Business

6.1 The Warrantors covenant and agree with the Purchaser that
until the Closing Date or termination of this Agreement, except as otherwise
contemplated in this Agreement or agreed to in writing by the Purchaser, they
will

(a) Conduct Business in Ordinary and
Normal Course – to conduct its business in the ordinary and normal course
thereof, including the payment of all current liabilities and accounts in the
ordinary and normal course, and not negotiate or execute any new Material
Contracts or terminate, cancel or modify in any material respect any existing
Material Contracts, and 

(b) Necessary Steps – to take
all actions, steps and proceedings that are necessary or desirable to approve or
authorize, or to validly and effectively undertake, the execution, delivery and
performance of this Agreement and the completion of the transactions.

- 22 -

PART 7

CONDITIONS PRECEDENT

Purchaser’s Conditions

7.1 The obligations of the Purchaser to complete the purchase
of the M2M Shares are subject to the satisfaction of or compliance with each of
the following conditions precedent on or before the Closing Date

(a) Truth and Accuracy of
Representations and Warranties of the Vendor – the representations and
warranties of the Vendors and the Warrantors contained herein are true and
correct in all material respects as at the Closing Date with the same effect as
if made on the Closing Date, except as Disclosed,

(b) Performance of Obligations –
the Vendors and the Warrantors have, in all material respects, performed and
complied with all the obligations, covenants and agreements to be performed and
complied with by each of them on or before the Closing Date, 

(c) Financial Statements - the
receipt of such audited financial statements of the Company as may be reasonably
requested by the Purchaser and the Purchaser’s Solicitor’s, such financial
statements to be prepared in accordance with United States GAAP and GAAS and
prepared by and containing an unqualified audit report of a member firm of the
United States Public Company Accounting Oversight Board .

(d) Consulting / Employment
Agreements – the Company and the Purchaser will have agreed to and executed
new consulting or employment agreements with each of the following individuals
on the following terms, which will supersede all previous agreements between
such individuals and the Company 

  	Name 	Position 	Type of Agreement 	Compensation and Term 
	Gordon Anderson 	CEO 	Employment or  Consulting  	  
	Kate Aldridge 	COO
	Consulting 	 
    
	Danny Wootton 	NED
	Consulting 	 
    

Vendor’s Conditions

7.2 The obligations of the Vendors to complete the sale of the
Shares of the Company are subject to the satisfaction of or compliance with each
of the following conditions precedent on or before the Closing Date

(a) Truth and Accuracy of
Representations and Warranties of the Purchaser – the representations and
warranties of the Purchaser contained herein are true and correct in all
material respects as at the Closing Date with the same effect as if made on the
Closing Date,

(b) Performance of Obligations –
the Purchaser has, in all material respects, performed and complied with all the
obligations, covenants and agreements to be performed and complied with by it on
or before the Closing Date,

Mutual Conditions 

7.3 The obligations of the Vendors, the Company and the
Purchaser to complete the purchase of the Shares of the Company are subject to
the receipt of all necessary regulatory approval to the completion of the
acquisition of the Shares of the Company on the terms set forth in this
Agreement.

- 23 -

Waiver

7.4 The conditions precedent set forth in this Part 7 are for
the exclusive benefit of the party to whom they are addressed (the
“Benefiting Party”) and may be waived by the Benefiting Party in writing
in whole or in part on or before the Closing Date. The waiver by the Benefiting
Party of any condition set forth in this Part 7, the acknowledgement or
agreement by the Benefiting Party that any such condition has been satisfied and
the completion of the purchase and sale transaction contemplated by this
Agreement will be without prejudice to the Benefiting Party’s rights in respect
of the warranties, representations, covenants and indemnities to be relied upon
by the Benefiting Party in connection with the sale and purchase of the Shares
of the Company.

PART 8

CLOSING

Closing Date and Location

8.1 The Closing will take place on the Closing Date at the
offices of the Purchaser in Wiltshire, England or at such other time, date or
location as may be agreed to in writing by the Parties.

Vendor’s Closing Documents

8.2 On or before the Closing Date Warrantors will deliver, or
cause to be delivered the following documents: 

(a) transfers of the M2M Shares
executed by the registered holders in favour of the Purchaser. Any stamp duty
payable on the shares is payable by the purchaser;

(b) a certified true copy of the
Company’s official share register proving conclusive and legally binding proof
of ownership of all of the M2M Shares in the name of the Purchaser; 

(c) a certificate from the Warrantors
certifying as at the Closing Date the truth and accuracy of the representations,
warranties and covenants of the Warrantors in this Agreement;

(d) such other documents and
instruments, other than those set out above, as may be reasonably requested by
the Purchaser’s Solicitors in order to complete the transactions set out in this
Agreement;

(e) completion of transfer of ownership
and registration of ownership in name of Mobiventures, demonstrated by the
registered owners signing of the relevant Stock Transfer form

and delivery of such documents by the Vendor in accordance with
this §8.2 will be deemed to satisfy the conditions precedent set forth in §7.1

Purchaser’s Closing Documents

8.3 On or before the Closing Date, the Purchaser will deliver,
or cause to be delivered, to the Purchaser’s Solicitors, in trust, the following
documents and funds:

(a) share certificates carrying a
legend as provided for in this Agreement representing the Purchaser’s Shares and
registered in the names of the Vendors as directed;

(b) a certified true copy of
Purchaser’s official share register proving conclusive and legally binding proof
of ownership of all of the Purchaser’s Shares in the names of the Vendors;

- 24 -

(c) a certified copy of resolutions of
the directors of the Purchaser authorizing the execution, delivery and
performance of this Agreement by the Purchaser; 

(d) such other documents and
instruments, other than those set out in above, as may be reasonably requested
by Vendor’s Solicitors in order to complete the transactions set out in this
Agreement;

(e) promissory notes executed by the
Purchaser in the aggregate amount of $1,500,000, as follows

(i) a Promissory note in the amount of
$500,000 due and payable on the 31st October 2008 to the Vendors in
proportion to their respective shareholdings as at the date of closing;

(ii) a Promissory note in the amount
of $500,000 due and payable on the date that is twelve months from closing to
the Vendors in proportion to their respective shareholdings as at the date of
closing;

(iii) a Promissory note in the amount
of $500,000 due and payable on the date that is twenty four months from closing
to the Vendors in proportion to their respective shareholdings as at the date of
closing;

and delivery of such documents and promissory notes by the
Purchaser in accordance with this §8.3 will be deemed to satisfy the conditions
precedent set forth in §7.2. 

Effect of default on payment of the Purchase price

8.4 In the event that the Purchaser defaults on any payments
according to §2.2, the Purchaser will pay the Vendors a penalty of 200,000 USD
in shares, to be issued to the Vendors for each delayed payment in accordance
with the shareholdings in Schedule 1. The shares will be valued at the average
of the closing price on each of the 5 days preceding the payment date of the
promissory notes. This penalty will apply to each of the scheduled payments
outlined in §2.2, but is only applied once per scheduled payment.

PART 9

TERMINATION

Termination Rights

9.1 This Agreement may, by notice in writing given before or on
the Closing, be terminated:

(a) by mutual consent of the Vendor and
the Purchaser;

(b) by the Purchaser if any of the
conditions precedent in Part 7 in favour of the Purchaser have not been
satisfied at or before Closing and the Purchaser has not waived such condition
precedent at or before Closing;

(c) by the Vendor if any of the
conditions precedent in Part 7 in favour of the Vendor have not been satisfied
at or before Closing and the Vendor has not waived such condition precedent at
or before Closing; or

(d) by any Party if the Closing has not
occurred on or before 31st March 2008, or such later date as the
Parties may agree to in writing, unless the Closing has not occurred by such
date because the Party seeking to terminate this Agreement has failed to perform
any one or more of its obligations or covenants under this Agreement to be
performed at or before Closing.

- 25 -

(e) if the Closing is not completed due
to the failure or delay by the Purchaser, the wasted professional fees incurred
by the Company will be paid by the Purchaser upon presentation of valid invoices
and $80,000 will be paid to the Company for use of the Company’s management
resources on the Purchaser’s activities.

Effect of Termination

9.2 Each Party’s right of termination under this Part is in
addition to any other rights it may have under this Agreement or otherwise, and
the exercise of a right of termination will not be an election of remedies.
Nothing in this Part limits or affects any other rights or causes of action any
Party may have with respect to the representations, warranties, covenants and
indemnities in its favour contained in this Agreement. If a Party waives
compliance with any of the conditions, obligations or covenants contained in
this Agreement, the waiver will be without prejudice to any of its rights of
termination in the event of non-fulfillment, non-observance or non-performance
of any other condition, obligation or covenant in whole or in part.

9.3 If this Agreement is terminated pursuant to any provision
of §9.1, all obligations of the Parties under this Agreement will terminate,
except if this Agreement is terminated by a Party because of a breach of this
Agreement by the another Party or because a condition for the benefit of the
terminating Party has not been satisfied because the other Party has failed to
perform any of its obligations or covenants under this Agreement which are
reasonably capable of being performed or caused to be performed by such Party,
and the terminating Party’s right to pursue all legal remedies will survive such
termination unimpaired.

PART 10.

GENERAL

Acknowledgement of Confidentiality

10.1 The Vendors acknowledge and agree that:

(a) they have had access to information
and trade secrets pertaining to the business, services and Intellectual Property
of the Company and the Purchaser, (collectively, the “Confidential
Information”), 

(b) the disclosure of any of the
Confidential Information to competitors of the Company or the Purchaser, to
others or to the public, would be highly detrimental to the best interests of
the Purchaser and the Company, and

(c) the right to maintain the
Confidential Information constitutes a proprietary right which the Purchaser and
the Company are entitled to protect.

Covenant on Confidentiality

10.2 The Vendors jointly and severally covenant and agree that
at all times hereafter they will 

(a) hold all of the Confidential
Information in secrecy, as the trustee or custodian for the Purchaser and the
Company, and for the Purchaser and the Company’s exclusive benefit and use,

(b) faithfully do all in its power to
assist the Purchaser and the Company in maintaining the secrecy of the
Confidential Information, and

(c) not at any time without the prior
written consent of the Purchaser, 

(i) disclose or divulge, directly or
indirectly, to any person, firm or corporation any of the Confidential
Information, or

- 26 -

(ii) practise or use, other than for
the benefit of the Purchaser or the Company, any of the Confidential
Information.

Exceptions 

10.3 Notwithstanding §10.1(a), nothing will be deemed to be
Confidential Information which:

(a) is known to the party receiving the
information at the time of disclosure, unless any individual who knows the
information is under an obligation to keep that information confidential;

(b) becomes publicly known or available
without the disclosure thereof by the party receiving the information in
violation of this Agreement; or

(c) is received by the party receiving
the information from a third party not under an obligation to keep that
information confidential.

10.4 The provisions of §10.2 will not prohibit the disclosure
of information required to be made under federal or state securities laws, rules
and regulations or by order of any federal, state or local regulatory agency or
as otherwise required to be disclosed under applicable law. If any disclosure is
so required, the party making such disclosure will consult with the other party
before making such disclosure, and the parties will use all reasonable efforts,
acting in good faith, to agree upon a text for such disclosure which is
satisfactory to both parties.

Governing Law and Attornment

10.5 This Agreement will be exclusively governed by, and
interpreted and construed in accordance with, the laws prevailing in the State
of Nevada and the parties irrevocably and unconditionally attorn to the
jurisdiction of the courts of the State of Nevada and all courts having
appellate jurisdiction thereover. Each party hereby irrevocably waives, to the
fullest extent permitted by applicable law, any right it may have to a trial by
jury in respect of any litigation directly or indirectly arising out of, under
or in connection with this Agreement. Notices

10.6 Every notice, request, demand or direction to be given
pursuant to this Agreement must be in writing and must be delivered by hand
(e.g. Federal Express or other reputable courier service) or sent by facsimile
transmission or other similar form of written transmission by electronic means,
in each case addressed as follows:

	 	(a) 	
      if to the Purchaser: 

	 	 	 	Mobiventures Inc. 
Sunnyside 
Brinkworth
      
Chippenham 
Wiltshire 
SN15 5BY 
England
	 	 	 
	 		
      Facsimile:

	 		
      Attention: Peter Ahman, President

	 	 	 
	 		
      with a copy to:

	 		
      Lang Michener LLP

	 		
      1500 – 1055 West Georgia Street Vancouver, British
      Columbia Canada V6E 4N7

	 	 	 
	 		
      Facsimile: (604) 893-2356 Attention: Michael
  Taylor

- 27 -

	 	(b) 	if to the Vendors at the addresses first written above:
	 	 	 
	 	(c) 	if to the Company:
	 	 	 	Move2Mobile Limited.

      Sunnyside

      Brinkworth

      Chippenham

      Wiltshire

      SN15 5BY

      England

      Facsimile: 0044 1666 510459 

      Attention: Danny Wootton

or to such other address or transmission receiving station in
as specified by a party by notice to each other party. Any notice delivered by
hand or sent by facsimile transmission will be deemed conclusively to have been
effectively given on the day notice was delivered or sent as aforesaid if it was
delivered or sent on a day that was a Business Day at the place of the intended
recipient, or on the next day that is a Business Day at such place if it was
delivered or sent on a day that was not a Business Day at such place.

Time of Essence

10.7 Time is of the essence in the performance of each
obligation under this Agreement.

Public Notices

10.8 The Parties agree that all notices to third parties and
all other publicity concerning the transactions contemplated by this Agreement
will be jointly planned and co-ordinated and no Party will act unilaterally in
this regard without the prior approval of the others, such approval not to be
unreasonably withheld.

Public Disclosure

10.9 Before and after Closing, none of the Parties will
disclose the terms of this Agreement, except as reasonably required for income
tax purposes or as otherwise may be required by law including all securities
laws and applicable stock exchange rules and policies. Notwithstanding the
foregoing, in the case of any public filing of this Agreement under applicable
securities laws the Parties will use reasonable efforts to jointly plan and
coordinate such filings.

Entire Agreement

10.10 This Agreement constitutes the entire agreement between
the Parties and supersedes all prior agreements and understandings, oral or
written, by and between any of the Parties with respect to the subject matter
hereof.

Waiver and Consent

10.11 No delay or failure by a party to exercise any of its
rights under this Agreement constitutes a waiver of any such right. No consent
or waiver, express or implied, by a party to, or of any breach or default by any
other party of, any or all of its obligations under this Agreement will,

(a) be valid unless it is in writing
and stated to be a consent or waiver pursuant to this section, 

(b) be relied upon as a consent to or
waiver of any other breach or default of the same or any other obligation, 

- 28 -

(c) constitute a general waiver under
this Agreement, or

(d) eliminate or modify the need for a
specific consent or waiver pursuant to this section in any other or subsequent
instance.

Severability

10.12 If a court of other tribunal of competent jurisdiction
determines that any one or more of the provisions contained in this Agreement is
invalid, illegal or unenforceable in any respect in any jurisdiction, the
validity, legality and enforceability of such provision or provisions will not
in any way be affected or impaired thereby in any other jurisdiction and the
validity, legality and enforceability of the remaining provisions contained
herein will not in any way be affected or impaired thereby, unless in either
case as a result of such determination this Agreement would fail in its
essential purpose.

Amendments

10.13 This Agreement may not be amended except in writing
signed by each Party.

Further Assurances

10.14 The Parties will with reasonable diligence, do all such
things and provide all such reasonable assurances as may be required to
consummate the transactions contemplated by this Agreement, and each Party will
provide such further documents or instruments required by the other Party as may
be reasonably necessary or desirable to give effect to the purpose of this
Agreement and carry out its provisions whether before or after the Closing
Date.

Assignment

10.15 No Party may assign this Agreement or any rights or
obligations under this Agreement without the prior written consent of the other
Parties.

Enurement

10.16 This Agreement and each of the terms and provisions
hereof will enure to the benefit of and be binding upon the Parties and their
respective heirs, executors, administrators, personal representatives,
successors and assigns.

Counterparts

10.17 This Agreement may be executed in any number of
counterparts, in original form or by facsimile, each of which will together, for
all purposes, constitute one and the same instrument, binding on the parties,
and each of which will together be deemed to be an original, notwithstanding
that each party is not a signatory to the same counterpart.

Costs

10.18 Unless otherwise provided, all costs in connection with
the negotiation, preparation, execution and performance of this agreement, and
any documents referred to in it, shall be borne by the Purchaser. Any costs
incurred by the Purchaser on behalf of the vendor, will be deducted from the
compensation outlined in §9.1(e) if the Closing is not completed due to the
failure or delay by the Purchaser. 

- 29 -

IN WITNESS WHEREOF the Parties have duly executed this
Agreement as a deed effective as of the day and year first above written.

MOBIVENTURES INC. a Nevada corporation by its authorized
signatory

/s/ Peter Ahman

Per:  ______________________

Peter Ahman, President

Per:  ______________________

	  DANNY WOOTTON 	  WITNESSED BY 
	  a principal shareholder of Move2Mobile Limited:
    	    
	  	  
	  	  
	  /s/
      Danny Wootton 	  /s/
      M.L. Wootton 
	  Signature of Authorized Signatory 	  Signature Of Witness by 
	  	  
	  	  
	  Director   
      Move2Mobile Ltd 	  MARY
      WOOTTON 
	  Name and Position of Authorized Signatory 	  Name Of Witness 
	  	  
	    	  SUNNYSIDE, BRINKWORTH 
	  	  
	    	  NR
      CHIPPENHAM, WILTS. SN15 5BY 
	    	  Address Of Witness 

	  NIGEL NICHOLAS 	  WITNESSED BY 
	  a principal shareholder of Move2Mobile Limited:
    	    
	  /s/
      Nigel Nicholas 	  /s/
      S. L. Richmond 
	  Signature of Authorized Signatory 	  Signature Of Witness by 
	  DIRECTOR,
      MOVE2MOBILE LTD. 	  S.
      L. RICHMOND 
	  Name and Position of Authorized Signatory 	  Name Of Witness 
	    	  13
      BICTON ST. EXMOUTH EX8 2RU 
	    	  Address Of Witness 

- 30 -

	  DAVID TAPSELL 	  WITNESSED BY 
	  a shareholder of Move2Mobile Limited: 	    
	  	  
	  	  
	  /s/
      David Tapsell 	  /s/
      Guy Scholgz 
	  Signature of Authorized Signatory 	  Signature
      Of Witness by 
	  	  
	  	  
	  SHAREHOLDER
    	  GUY
      SCHOLGZ 
	  Name and Position of Authorized Signatory 	  Name Of Witness 
	  	  
	  	  
	    	  26
      SANDY RD CALVERT BUCKS MK18 2FW 
	    	  Address Of Witness 

	  STEVEN DOTSCH 	  WITNESSED BY 
	  a shareholder of Move2Mobile Limited: 	    
	  	  
	  	  
	  /s/
      Steven Dotsch 	  /s/
      Debbie Carne
	  Signature of Authorized Signatory 	  Signature Of Witness by 
	  	  
	  	  
	  S J
      DOTSCH 	  D.
      CARNE 
	  Name and Position of Authorized Signatory 	  Name Of Witness 
	  	  
	  	  
	    	  26,
      CHOLMELEY PARK, N6 5EU
	    	  Address Of Witness 

	  DEEMA FREIJ 	  WITNESSED BY 
	  a shareholder of Move2Mobile Limited: 	    
	  /s/
      Deema Freij 	  /s/
      Montse Martin 
	  Signature of Authorized Signatory 	  Signature Of Witness by 
	  DEEMA
      FREIJ 	  MONTSE
      MARTIN 
	  Name and Position of Authorized Signatory 	  Name Of Witness 
	    	  BONAVISTA
      6 080R BARCELONA 
	    	  Address Of Witness 

- 31 -

	  KEVIN STURGE 	  WITNESSED BY 
	  a shareholder of Move2Mobile Limited: 	    
	  	  
	  	  
	  /s/
      Kevin Sturge 	  /s/
      Yiannoulla Sturge 
	  Signature of Authorized Signatory 	  Signature Of Witness by 
	  	  
	  	  
	  KEVIN
      STURGE 	  YIANNOULLA
      STURGE 
	  Name and Position of Authorized Signatory 	  Name Of Witness 
	  	  
	    	  18927 MONTE VISTA DR 
	  	  
	    	  SARATOGA
      CA 95070 USA 
	    	  Address Of Witness 

	  ANDREW MONNERY 	  WITNESSED BY 
	  a shareholder of Move2Mobile Limited: 	    
	  /s/
      Andrew Monnery 	  /s/
      Ernest Akinlola 
	  Signature of Authorized Signatory 	  Signature Of Witness by 
	  ANDREW
      MONNERY, SHAREHOLDER 	  ERNEST
      AKINLOLA 
	  Name and Position of Authorized Signatory 	  Name Of Witness 
	    	  5
      FORESTDALE, LONDON N14 7DY 
	    	  Address Of Witness 

	  EXECUTED AS A DEED for and on behalf of 	  WITNESSED BY 
	  ALDRIDGE PROFESSIONAL SERVICES 	   
	  	 
	  a shareholder of Move2Mobile Limited by: 	  /s/
      Ben Aldridge                
      (12 March 2008) 
	  	 
	  /s/
      Ben Aldridge 	  Signature Of Witness by 
	  	 
	  Signature of Authorized Director 	  Sherree
      Aldridge 
	  	 
	  Ben
      Aldridge 	  Name Of Witness 
	  Name and Position of Authorized Signatory 	  53 Wootton Cr. Gardon. Act 
	    	  Australia 2906 
	  Director and Secretary 	   
	  12 March 2008 	  Address Of Witness 

- 32 -

	  GORDON ANDERSON 	  WITNESSED BY 
	  a shareholder of Move2Mobile Limited: 	    
	  	  
	  	  
	  /s/
      Gordon Anderson 	  /s/
      Graham Dullup 
	  Signature of Authorized Signatory 	  Signature Of Witness by 
	  	  
	  	  
	  GORDON
      ANDERSON CEO 	  GRAHAM
      DULLOP 
	  Name and Position of Authorized Signatory 	  Name Of Witness 
	  	  
	    	  10A WATFURD ROAD 
	  	  
	    	  RADLETT,
      HERTS WD7 8LD 
	    	  Address Of Witness

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