Document:

Unassociated Document

    
      

    

    EXHIBIT
      10.9

     

    

    POWER
      OF THE DREAM VENTURES, INC.

    1095
      Budapest

    Soroksari
      ut 94-96

    Hungary

    Tel: +36-1-456-6061

    Fax:
      +36-1-456-6062

    

    June
      1,
      2007

    

    

    CONFIDENTIAL

    

    

    Mr.
      Mihaly Zala

    1163
      Budapest

    Kerepesi
      ut 190

    Hungary

     

    

    
      	
               

            	
              Re:

            	
              Business
                Services Consulting Agreement

            

    

    

    

    Dear
      Mr.
      Zala:

    

    This
      letter (this “Agreement”) constitutes the agreement between Power of the Dream
      Ventures, Inc., a Delaware corporation and Mr. Mihaly Zala (“Consultant” or
“MZ”) pursuant to which MZ will serve as a the legal representative of the
      company with respect to its business matters in Hungary.  The terms of
      this Agreement are as follows:

    

    
      	
               

            	
              A.

            	
              Services.  At
                the Company’s request, MZ shall provide general business consulting
                services including, but not limited to the
                following:

            

    

    

    
      	
               

            	
              1.

            	
              technology
                evaluation, selection, development and management expertise. Mr.
                Zala’s
                expertise are highlighted by his curriculum vitas in Annex
                B;

            

    

    

    
      	
               

            	
              2.

            	
              interfacing
                with inventors, whose products are considered for acquisition or
                development, and with companies, in which an equity participation
                or
                investment is contemplated;

            

    

    

    
      	
               

            	
              3.

            	
              and
                with day to day managerial task related to Power of the Dream Ventures’
                Hungarian wholly owned subsidiary, Vidatech
                Kft.

            

    

    

    
      
        
          
          

        

        
           

          
            

          

        

        
          
          

        

      

    

    

    Mr.
      Mihaly Zala

    June
      1,
      2007

    

    

    B.           Fees
      and Expenses.  In connection with the
      services described in Section A above, the Company shall issue to MZ a one-time
      payment of one hundred thousand (100,000) shares of the Company’s common stock,
      $.0001 par value per share upon the execution hereof, in consideration of
      securing his commitment to the Company for the term herein provided. In
      addition, the Company hereby agrees, from time to time upon request, to
      reimburse MZ for all reasonable travel and other out-of-pocket expenses incurred
      in connection with MZ’s engagement hereunder; provided,
however, that each individual
      expense in excess of
      Two Hundred Fifty and 00/100 Dollars ($250.00) shall require the prior written
      approval of the Company and, in any event, cumulative expenses of MZ hereunder
      shall not exceed two thousand and 00/100 Dollars
      ($2,000.00).

    

    

     

    
      	
               

            	
              D.

            	
              Term
                of Engagement. Except as set forth below,
                the initial term of MZ’s engagement will begin on the date hereof and end
                twenty four (24) months from the date hereof.  Either party may
                terminate MZ’s engagement before the end of the initial term hereto at any
                time, with or without cause, upon ten (10) days’ prior written notice to
                the other party.  Notwithstanding any such termination, the
                provisions in this Agreement regarding Fees and Expenses, Use of
                Information, Indemnity, Arbitration of Disputes and Confidentiality
                shall
                survive and remain in full force and effect and be binding on any
                successors of the Company. MZ acknowledges that all materials produced
                as
                part of this agreement become the exclusive property of the Company
                and
                that MZ may not use any of said materials without the express written
                consent of the Company.

            

    

    

    
      	
               

            	
              E.

            	
              Use
                of Information. The Company will furnish MZ
                such information as MZ reasonably requests in connection with the
                performance of his services hereunder.  The Company understands,
                acknowledges and agrees that, in performing his services hereunder,
                MZ
                will use and rely entirely upon such information as is provided by
                the
                Company as well as publicly available information regarding the Company
                and that MZ does not assume responsibility for independent verification
                of
                the accuracy or completeness of any information, whether publicly
                available or otherwise furnished to MZ, concerning the Company including,
                without limitation, any technical information, engineering data or
                prototype plans considered by MZ in connection with the provision
                of his
                services.  Accordingly, MZ shall be entitled to assume and rely
                upon the accuracy and completeness of all such information and shall
                not
                be required to conduct a physical inspection of any of the properties
                or
                assets or to prepare or obtain any independent evaluation or appraisal
                of
                any of the assets or liabilities of the Company. With respect to
                any
                technical data made available to MZ by the Company and used by MZ
                in his
                work, MZ shall be entitled to assume that such technical drawings
                have
                been reasonably prepared and reflect the best currently available
                information of the management of the Company as to the matters covered
                thereby.  If any information provided to MZ by the Company
                becomes inaccurate, incomplete or misleading in any material respect
                during MZ’s engagement hereunder, the Company shall so advise
                MZ.

            

    

    

    
      
        
          
          

        

        
          2

          
            

          

        

        
          
          

        

      

    

    

    Mr.
      Mihaly Zala

    June
      1,
      2007

    

    

    
      	
               

            	
              F.

            	
              Confidentiality.
                MZ agrees to keep confidential during the term, and for
                24 months
                after any termination of this Agreement, all material nonpublic
                information provided to it by the Company, except as required by
                law,
                pursuant to an order of a court of competent jurisdiction or the
                request
                of a regulatory authority having jurisdiction over MZ, or as contemplated
                by the terms of this Agreement. Notwithstanding anything to the contrary
                herein, MZ may disclose nonpublic information to his affiliates,
                agents
                and advisors whenever MZ determines that such disclosure is necessary
                to
                provide the services contemplated
                hereunder.

            

    

    

    
      	
               

            	
              G.

            	
              Indemnity.
                MZ and the Company agree to the provisions with respect
                to
                indemnification by the Company of MZ and certain other parties as
                set
                forth on Annex A attached
                hereto.

            

    

    

    
      	
               

            	
              H.

            	
              Limitation
                of MZ’s Engagement by the Company. The
                Company acknowledges that MZ has been retained only by the Company,
                that
                MZ is providing services hereunder as an independent contractor (and
                not
                in any fiduciary or agency capacity), and that the Company’s engagement of
                MZ is not deemed to be on behalf of, and is not intended to confer
                rights
                upon, any shareholder, owner or partner of the Company or any other
                person
                not a party hereto as against MZ.  Unless otherwise expressly
                agreed in writing by MZ, no one other than the Company is authorized
                to
                rely upon this engagement or any other statements or conduct of MZ,
                and no
                one other than the Company is intended to be a beneficiary of this
                Agreement.  The Company acknowledges that any recommendations or
                advice, written or oral, given by MZ to the Company in connection
                with
                MZ’s engagement are intended solely for the benefit and use of the
                Company’s management and directors, and any such recommendations or advice
                are not on behalf of, and shall not confer any rights or remedies
                upon,
                any other person or be used or relied upon for any other
                purpose.

            

    

    

    
      
        
          
          

        

        
          3

          
            

          

        

        
          
          

        

      

    

    

    Mr.
      Mihaly Zala

    June
      1,
      2007

    

    

    
      	
               

            	
              I.

            	
              Limitation
                on MZ’s Liability to the Company. MZ and the
                Company further agree that MZ shall have no liability to the Company,
                its
                security holders or creditors, or any person asserting claims on
                behalf of
                or in the right of the Company (whether direct or indirect, in contract,
                tort, for an act of negligence or otherwise) for any losses, fees,
                damages, liabilities, costs, expenses or equitable relief arising
                out of
                or relating to this Agreement or the services to be rendered hereunder,
                except for losses, fees, damages, liabilities, costs or expenses
                that
                arise out of or are based on any action of or failure to act by MZ
                and
                that are finally determined (by a court of competent jurisdiction
                and
                after exhausting all appeals or in an arbitration conducted in accordance
                with this Agreement) to have resulted solely from the gross negligence
                or
                willful misconduct of MZ.

            

    

    

    
      	
               

            	
              J.

            	
              Governing
                Law. This Agreement shall be governed
                by and
                construed in accordance with the laws of the State of New
                York.

            

    

    

    
      	
               

            	
              K.

            	
              Arbitration
                of Disputes. Except as provided below, any
                claim or controversy arising out of or relating to this Agreement,
                or the
                breach thereof, shall be settled by arbitration in accordance with
                the
                Commercial Arbitration Rules of the American Arbitration Association,
                and
                judgment on the award rendered by the arbitrator(s) may be entered
                in any
                court having jurisdiction thereof. The arbitration of any such claim
                or
                controversy shall take place in New York,
                NY.

            

    

    

    
      	
               

            	
              L.

            	
              Miscellaneous.
                This Agreement shall not be modified or amended except in
                writing
                signed by MZ and the Company.  This Agreement shall not be
                assigned without the prior written consent of MZ and the
                Company.  This Agreement constitutes the entire agreement of MZ
                and the Company with respect to the subject matter hereof and supersedes
                all prior agreements.  If any provision of this Agreement is
                determined to be invalid or unenforceable in any respect, such
                determination shall not affect such provision in any other respect,
                and
                the remainder of the Agreement shall remain in full force and effect.
                This
                Agreement may be executed in counterparts, each of which shall be
                deemed
                an original, but all of which together shall constitute one and the
                same
                instrument.

            

    

    

    
      
        
          
          

        

        
          4

          
            

          

        

        
          
          

        

      

    

    

    Mr.
      Mihaly Zala

    June
      1,
      2007

    

    

    In
      acknowledgment that the foregoing correctly sets forth the understanding reached
      by MZ and the Company, please sign in the space provided below, whereupon this
      letter shall constitute a binding Agreement as of the date indicated
      below.

    

    
      	 	
              Sincerely,  

            
	 	 	 	 
	 	
              POWER
                OF THE DREAM VENTURES, INC.  

            
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	
              By

            	 	 
	 	 	
              Name:

            	
              Viktor
                Rozsnyay, President

            

    

    

    

    
      	
              ACCEPTD
                AND AGREED THIS 

            
	
              1
                DAY OF JUNE, 2007: 

            
	  
	
              CONSULTANT: 

            
	  
	  
	 	 

    

    
      	
              Name:

            	
              Mr.
                Mihaly Zala

            	 

    

    

    
      
        
          
          

        

        
          5

          
            

          

        

        
          
          

        

      

    

    

    Mr.
      Mihaly Zala

    June
      1,
      2007

    

    

    ANNEX
      A

    

    In
      connection with MZ’s engagement to advise and to assist the Company pursuant to
      the Agreement dated June 6 2007 to which this Annex A is attached, the Company
      agrees to indemnify and to hold harmless MZ (hereinafter referred to as an
      “Indemnified Party”), to the full extent allowed by law or equity, from and
      against any and all judgments, losses, claims (whether or not valid), damages,
      costs, fees, expenses or liabilities, joint or several, to which an Indemnified
      Party may become subject, related to or arising out of MZ’s engagement or
      performance under the Agreement, the transaction contemplated thereby, the
      services rendered by MZ under the Agreement, or any actual or threatened claim,
      litigation, investigation, proceeding or action in any court of before any
      regulatory, administrative or other body relating to any of the foregoing
      (hereinafter referred to collectively as a “Claim”), and shall, upon request,
      reimburse an Indemnified Party for all legal and other costs, fees and expenses
      as they are incurred in connection with investigating, preparing or defending
      a
      Claim, whether or not such Indemnified Party is ever made party to any legal
      proceedings; provided, however, that no such
      indemnification shall be required to be paid to an Indemnified Party with
      respect to a Claim that is finally determined by a court of competent
      jurisdiction (after exhaustion of all appeals) or in an arbitration conducted
      in
      accordance with this Agreement to have resulted solely from the gross negligence
      or willful misconduct of such Indemnified Party.

    

    In
      the
      event that the foregoing indemnity is unavailable or insufficient for any reason
      (other than by reason of the terms hereof) to hold any Indemnified Party
      harmless, then the Company shall contribute to any amounts paid or payable
      by an
      Indemnified Party in such proportion as appropriately reflects the relative
      benefits received by such Indemnified Party and to the Company in connection
      with the matters to which the Claim relates.  If an allocation solely
      on the basis of benefits is judicially determined to be impermissible, then
      the
      Company shall contribute in such proportion as appropriately reflects the
      relative benefits and relative fault of the Company and such Indemnified Party,
      as well as any other equitable considerations.  In no event shall the
      Company contribute less than the amount necessary to ensure that the aggregate
      liability of MZ for contribution pursuant to this paragraph in connection with
      all Claims do not exceed the amount of fees actually received by MZ under the
      Agreement.  For purposes hereof, relative benefits to the Company and
      MZ shall be deemed to be in the same proportion that the total value received
      or
      contemplated to be received by the Company and/or its security holders bears
      to
      the fees paid to MZ under the Agreement, and other relative fault of each
      indemnified party an the Company shall be determined by reference to, among
      other things, whether the actions and omissions to act were by such Indemnified
      Party or the Company and the parties’ relative intent, knowledge, access to
      information, and opportunity to correct or prevent such action or
      omission.

    

    All
      amounts due to an Indemnified Party hereunder shall be payable by the Company
      promptly upon request by such Indemnified Party.  In addition, the
      Company agrees to pay all costs and expenses (including attorneys’ fees)
      incurred by an Indemnified Party to enforce the terms of this Annex
      A.

    

    
      
        
          
          

        

        
          6

          
            

          

        

        
          
          

        

      

    

    

    Mr.
      Mihaly Zala

    June
      1,
      2007

    

    

    The
      Company agrees not to enter into any waiver, release or settlement of any Claim
      (whether or not MZ is a formal party to such Claim) in respect of which
      indemnification may be sought hereunder without the prior written consent of
      MZ
      (which consent will not be unreasonably withheld), unless such waiver, release
      or settlement includes an unconditional release of MZ from all liability arising
      out of such claim.

    

    The
      provisions of this Annex A shall be in addition to any liability which the
      Company may otherwise have to MZ; shall not be limited by any rights that MZ
      may
      otherwise have; shall remain in full force and effect regardless of any
      termination of MZ’s engagement; and shall be binding upon any successors or
      assigns of MZ and the Company.

    

    
      
        
          
          

        

        
          7

          
            

          

        

        
          
          

        

      

    

    

    Mr.
      Mihaly Zala

    June
      1,
      2007

    

    

    ANNEX
      B

    

    ZALA
      Mihály

    
      

       

      
        
          

        

      

    

    
      PERSONAL
        DETAILS

    

    
      
        

      

    
      	
              ·

            	 	
              Family
                status:

            	
              married

            
	
              ·

            	 	
              Nationality:

            	
              Hungarian

            
	
              ·

            	 	
              Place
                and date of birth:

            	
              Budapest,
                1955

            

    

    

    
      SCHOOLS:

    

    
      
        

      

    
      	
               

            	
              2006-2007

            

    

    
      	
               

            	
              ·

            	
              National
                Training and Extension Training School for Labour
                Safety

            

    

    
      	
               

            	
              o

            	
              Labour
                Safety Technician

            

    

    
      	
               

            	
              1987-1988

            

    

    
      	
               

            	
              ·

            	
              Budapest
                University of Technology and Economics, Faculty of Architectural
                Engineering (TERC)

            

    

    
      	
               

            	
              o

            	
              Technical
                Controller of Construction I / Structure and Building
                Electricity

            

    

    
      	
               

            	
              1987-1988

            

    

    
      	
               

            	
              ·

            	
              Budapest
                University of Technology, Institute for Extension Training in
                Engineering

            

    

    
      	
               

            	
              o

            	
              Economic
                preparations for and implementation of investment
                projects

            

    

    
      	
               

            	
              1974
                – 1979

            

    

    
      	
               

            	
              ·

            	
              Budapest
                University of Technology, Faculty of Electric
                Engineering

            

    

    
      	
               

            	
              o

            	
              Qualification:
                certified electric engineer

            

    

    
      	
               

            	
              1969
                – 1973

            

    

    
      	
               

            	
              ·

            	
              Kolos
                Richárd Vocational Secondary School for Precision Mechanics and Precision
                Engineering

            

    

    

    
      PLACES
        OF WORK:

    

    
      
        

      

    
      	
               

            	
              2005
                -

            

    

    
      	
               

            	
              ·

            	
              ZM
                Project Builder BT – Budapest

            

    

    
      	
               

            	
              o

            	
              investor,
                planner, technical controller, project
                manager

            

    

    
      	
               

            	
              1998
                – 2005

            

    

    
      	
               

            	
              ·

            	
              LAVINA
                Construction and Installation Co. Ltd.–
Budapest

            

    

    
      	
               

            	
              o

            	
              investor,
                planner, technical controller, project
                manager

            

    

    
      	
               

            	
              1987
                – 1998

            

    

    
      	
               

            	
              ·

            	
              Hungarian
                Post Office, Bureau for Planning and
                Investment

            

    

    
      	
               

            	
              ·

            	
              MATÁV
                Rt., Bureau for Telecommunication
                Investment

            

    

    
      	
               

            	
              ·

            	
              MATÁV
                Rt., Real Property Directorate, Branch of
                Investment

            

    

    
      	
               

            	
              o

            	
              investor,
                planner, technical controller, project
                manager

            

    

    

    
      
        
          
          

        

        
          8

          
            

          

        

        
          
          

        

      

    

    

    Mr.
      Mihaly Zala

    June
      1,
      2007

    

    

    
      	
               

            	
              1982
                – 1987

            

    

    
      	
               

            	
              ·

            	
              Kossuth
                Agricultural Co-operative

            

    

    
      	
               

            	
              o

            	
              head
                of industrial branch

            

    

    
      	
               

            	
              o

            	
              head
                of industrial and machinery operation
                branch

            

    

    
      	
               

            	
              1979
                – 1982

            

    

    
      	
               

            	
              ·

            	
              MEZŐGÉP
                Nyíregyháza

            

    

    
      	
               

            	
              o

            	
              technological
                preparer, technologist

            

    

    
      	
               

            	
              o

            	
              head
                of works maintenance; planning and direction of electric and building
                machinery installation of products

            

    

    

    

    

    
      REFERENCES

      
        
          

        

      

    

    ZM
      Project LP

    -
      project
      management, planning, investment, execution, technical control

    
      	
               

            	
              o

            	
              Renewal
                of real properties

            

    

    
      	
               

            	
              o

            	
              Gizella
                Mill – preparatory works for
                construction

            

    

    
      	
               

            	
              o

            	
              Casino
                – full development

            

    

    
      	
               

            	
              o

            	
              Exhibition
                space in Erzsébet Square – partial
                works

            

    

    
      	
               

            	
              o

            	
              Kallos
                Warehouse – transformation

            

    

    
      	
               

            	
              o

            	
              Preparation
                of plans for safety and health
                protection

            

    

    

    Lavina
      Co. Ltd.

    -
      project
      management, planning, investment, execution, technical control

    
      	
               

            	
              o

            	
              National
                Office for Compensation and Settlement of Damage, Archives – development
                of office building with full
                reconstruction

            

    

    
      	
               

            	
              o

            	
              Office
                of Parliament – Installation of the air system in the Hall of the National
                Assembly

            

    

    
      	
               

            	
              o

            	
              FŐTÁV
                Co. Ltd. – full reconstruction of office
                building

            

    

    
      	
               

            	
              o

            	
              Ministry
                of Economy – renewal of area qualifying as historical
                monument

            

    

    
      	
               

            	
              o

            	
              ELTE
                University Library – renovation of
                façade

            

    

    
      	
               

            	
              o

            	
              NOKIA
                Telecommunications LLC – turn-key development of Vodafon MSC-01
                telecommunication facility

            

    

    
      	
               

            	
              o

            	
              SZÁMALK
                System House Co. Ltd. – turn-key development of school in Budapest
                District XIII

            

    

    
      	
               

            	
              o

            	
              Antenna
                Hungária Co. Ltd. – full reconstruction of kitchen, works of turn-key
                development, with kitchen
                technology

            

    

    
      	
               

            	
              o

            	
              Condominium
                on Belgrád Quay – reconstruction and renovation of the façade of a
                historical monument

            

    

    
      	
               

            	
              o

            	
              Municipality
                of Budapest District XIII – turn-key development of the building of a
                training swimming pool for Németh László Secondary
                School

            

    

    
      	
               

            	
              o

            	
              Municipality
                of Budapest District XIII – development of unhindered movement in
                Berzeviczy G. Primary School

            

    

    

    
      
        
          
          

        

        
          9

          
            

          

        

        
          
          

        

      

    

    

    Mr.
      Mihaly Zala

    June
      1,
      2007

    

    

    
      	
               

            	
              o

            	
              Antenna
                Hungária Co. Ltd. – turn-key development of Martfű Vodafon MSC-03
                telecommunication facility

            

    

    
      	
               

            	
              o

            	
              Metropolitan
                Gas Works Co. Ltd. – reconstruction of
                façade

            

    

    
      	
               

            	
              o

            	
              Construction
                of homes – semi-detached house with 4 apartments – District
                XVIII

            

    

    
      	
               

            	
              o

            	
              Construction
                of homes – 3 condominiums with 4 apartments each – District
                XIII

            

    

    
      	
               

            	
              o

            	
              Municipality
                of Budapest District XIII – turn-key development of a condominium with 67
                apartments

            

    

    
      	
               

            	
              o

            	
              Lavina
                Co. Ltd. – development of office and logistics
                premises

            

    

    
      	
               

            	
              o

            	
              Municipality
                of Budapest District XIII – turn-key development of Láng Sport
                Hall

            

    

    
      	
               

            	
              o

            	
              Municipality
                of Budapest District XIII – renovation works of class-rooms in Németh
                László Secondary School

            

    

    
      	
               

            	
              o

            	
              Ministry
                of Education, Institution for Servicing – development of congress hall and
                adjoining premises with full
                reconstruction

            

    

    
      	
               

            	
              o

            	
              EUROPA
                Real Estate Investment Fund – development of office and logistics
                premises, with full reconstruction

            

    

    
      	
               

            	
              o

            	
              Budapest
                District XIII – turn-key execution of a condominium with 6 shops + 63
                apartments

            

    

    
      	
               

            	
              o

            	
              Sportfólió
                LLC – turn-key execution of UTE ice hall, ice technology
                system

            

    

    
      	
               

            	
              o

            	
              Budapest
                District XIII – turn-key execution of a condominium with 3 shops + 57
                apartments

            

    

    
      	
               

            	
              o

            	
              Budapest
                District XIII – turn-key execution of a condominium with 1 shop and 24
                apartments

            

    

    
      	
               

            	
              o

            	
              Budapest
                District XVIII – turn-key execution of a condominium with 24
                apartments

            

    

    
      	
               

            	
              o

            	
              Budapest
                District II – turn-key execution of a condominium with 20
                apartments

            

    

    

    Hungarian
      Post Office / MATÁV

    
      	
               

            	
              -
                project management, planning, investment, execution, technical
                control

            

    

    
      	
               

            	
              o

            	
              Establishment
                of transport premises in Debrecen – with
                technology

            

    

    
      	
               

            	
              o

            	
              Establishment
                of telephone exchange in Mátészalka – with technology and
                network

            

    

    
      	
               

            	
              o

            	
              Extramural
                telecommunication facilities in the area of East Hungary with technology
                and network

            

    

    
      	
               

            	
              o

            	
              Post
                office and telecommunication facility in Fehérgyarmat with technology and
                network

            

    

    
      	
               

            	
              o

            	
              Full
                renovation of kitchen with
                technology

            

    

    
      	
               

            	
              o

            	
              Telecommunication
                and office building in Budapest District XIII Angyalföld – with technology
                and network

            

    

    
      	
               

            	
              o

            	
              Extramural
                telecommunication facilities in the area of Budapest District II
                with
                technology, with the full reconstruction of the telecommunication
                network

            

    

    

    
      
        
          
          

        

        
          10

          
            

          

        

        
          
          

        

      

    

    

    Mr.
      Mihaly Zala

    June
      1,
      2007

    

    

    
      	
               

            	
              o

            	
              Renovation
                of telecommunication facilities in the area of Budapest District
                XII with
                technology, with the full reconstruction of the telecommunication
                network

            

    

    
      	
               

            	
              o

            	
              Enlargement
                of Logistics Centre – construction of high warehouse with complete
                warehousing technology system

            

    

    
      	
               

            	
              o

            	
              Development
                of regional logistics centres

            

    

    
      	
               

            	
              o

            	
              Development
                of Servicing Centre in Budapest District IX, with full reconstruction
                of
                building and telecommunication
                technology

            

    

    
      	
               

            	
              o

            	
              Development
                of IT Servicing Centre in Budapest District IX, with full reconstruction
                of building and telecommunication
                technology

            

    

    
      	
               

            	
              o

            	
              Development
                of office areas with small and large spaces in existing buildings,
                with
                the supply of the full infrastructure – appr. two thousand working
                places

            

    

    
      	
               

            	
              o

            	
              Development
                and installation of remote supervision systems for
                buildings

            

    

    

    Kossuth
      Agricultural Co-operative

    -
      direction of production, planning, investment, execution, technical
      control

    
      	
               

            	
              o

            	
              Construction
                of family homes and office
                buildings

            

    

    
      	
               

            	
              o

            	
              Establishment
                of animal farms – with technology

            

    

    
      	
               

            	
              o

            	
              Establishment
                of plant for food industry with technology – establishment of juice plant,
                timber processing plant with
                technology

            

    

    
      	
               

            	
              o

            	
              Renovation
                of operating facilities

            

    

    

    MEZŐGÉP

    -     operation
      of facilities and production equipment, planning

    
      	
               

            	
              o

            	
              Maintenance
                and renovation of buildings

            

    

    
      	
               

            	
              o

            	
              Maintenance
                and overhaul of plant equipment

            

    

    

     

     11Unassociated Document

    
      

    

    EXHIBIT
      10.10

    

    AMENDMENT
      NO. 1 TO LETTER CONSULTING AGREEMENT

    BY
      AND BETWEEN

    POWER
      OF THE DREAM VENTURES, INC. AND

    MR.
      MIHALY ZALA

    

    *
      * *
      *

    

    

    AMENDMENT
      NO. 1 dated
      June 2, 2007 (the “Amendment”) to Letter Consulting Agreement dated June 1, 2007
      by and between Power of the Dream Ventures, Inc., a Delaware corporation (the
      “Company”) (the “Agreement”) and Mr. Mihaly Zala (“Consultant or
      MZ”).

    

    RECITALS:

    

    WHEREAS,
MZ
      and the
      Company entered into the Agreement on June 1, 2007, pursuant to which, MZ is
      to
      provide business consulting services to and for the benefit of the
      Company;

    

    WHEREAS,
in
      consideration for his business consulting services, MZ is to be paid a one-time
      payment of one hundred thousand (100,000) shares of Common Stock, $.0001 par
      value per share, of the Company (the “Consulting Shares”);

    

    WHEREAS,
it
      was always
      contemplated between the parties that the issuance of the Consulting Shares
      to
      MZ was to be effected pursuant to the registration exemption provided by
      Regulation S as promulgated under the Securities Act of 1933, as amended (the
      “1933 Act”);

    

    WHEREAS,
this
      Amendment is for the express and limited purpose of documenting and confirming
      that all of the pre-requisites for qualification under Regulation S exist with
      respect to the Company’s issuance and delivery of the Consulting Shares to
      MZ.

    

    NOW,
      THEREFORE, in
      consideration of the premises and the mutual covenants and conditions herein
      contained, the Agreement is hereby amended by this Amendment as
      follows:

    

    
      	
               

            	
              1.

            	
              A
                new Section “M” is hereby added to the Agreement which shall read, in its
                entirety, as follows:

            

    

    

    “M.           Regulation
      S Representations, Warranties & Covenants.

    

    MZ
      further acknowledges, represents,
      warrants and covenants to the Company that:

    
      
        
        

      

      
        1

        
          

        

      

      
        
        

      

    

    (a)           the
      Consulting Shares are being offered and sold to MZ in reliance on the exemptions
      from the registration requirements of the 1933 Act provided by the provisions
      of
      Regulation S as promulgated under the 1933 Act, and that the Consulting Shares
      may not be resold in the United States or to a US Person as defined in
      Regulation S, except pursuant to an effective registration statement or an
      exemption from the registration provisions of the 1933 Act as evidenced by
      an
      opinion of counsel acceptable to the Company, and that in the absence of an
      effective registration statement covering the Consulting Shares or an available
      exemption from registration under the 1933 Act, the Consulting Shares must
      be
      held indefinitely.  MZ further acknowledges that neither this
      Amendment nor the Agreement is intended as a plan or scheme to evade the
      registration requirements of the 1933 Act;

    

    (b)           MZ
      is a resident of the Republic of Hungary;

    

    (c)           MZ
      is not a “US Person” as that term is defined in Rule 902 of Regulation S, as
      more fully set forth in Section 2 of this Amendment;

    

    (d)           MZ
      is not, and on the date that he receives the Consulting Shares will not be,
      an
      affiliate of the Company;

    

    (e)           that
      all offers and sales of the Consulting Shares shall be made in compliance with
      all applicable laws of any applicable jurisdiction and, particularly, in
      accordance with Rules 903 and 904, as applicable, of Regulation S or pursuant
      to
      registration of the Consulting Shares under the 1933 Act or pursuant to an
      exemption from registration.  In any case, none of the Consulting
      Shares have been and will be offered or sold by MZ to, or for the account or
      benefit of a U.S. Person or within the United States until after the end of
      a
      one year period commencing on the date on which this Amendment is accepted
      by
      the Company (the “Distribution Compliance Period”), except
      pursuant to an effective registration statement as to the Consulting Shares
      or
      an applicable exemption from the registration requirements of the 1933
      Act.

    

    (f)           the
      Consulting Shares have not been offered to MZ in the United States and the
      individual making the decision to purchase the Consulting Shares and executing
      and delivering this Amendment on behalf of MZ were not in the United States
      when
      the decision was made and this Amendment was executed and
      delivered;

    

    (g)           MZ
      will not engage in any activity for the purpose of, or that could reasonably
      be
      expected to have the effect of, conditioning the market in the United States
      for
      any of the Consulting Shares; and

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

    (h)           neither
      MZ nor any of his affiliates will directly or indirectly maintain any short
      position, purchase or sell put or call options or otherwise engage in any
      hedging activities in any of the Common Stock of the Company until after the
      end
      of the Distribution Compliance Period, and acknowledges that such activities
      are
      prohibited by Regulation S.”

    

    
      	
               

            	
              2.

            	
              A
                new Section “N” is hereby added to the Agreement, which shall read, in its
                entirety, as follows:

            

    

    

    “N.           Regulation
      S – Definition of US Person.

    

    Rule
      902
      (k)(1): "U.S. person" means:

    
      	
               

            	 

    

    
      	
               

            	
              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 for the benefit or account
                of a
                U.S. person;

            

    

    
      	
               

            	 

    

    
      	
               

            	
              vii.

            	
              Any
                discretionary account or similar account (other than an estate or
                trust)
                held by a dealer or other fiduciary organized, incorporated, or (if
                an
                individual) resident in the United States;
                and

            

    

    
      	
               

            	 

    

    
      	
               

            	
              viii.

            	
              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 investors (as defined in Rule 501(a)) who are
                not
                natural persons, estates or
                trusts.

            

    

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

    Rule
      902(k)(2):  The following are not "U.S.
      persons":

    
      	
               

            	 

    

    
      	
               

            	
              i.

            	
              Any
                discretionary account or similar account (other than an estate or
                trust)
                held for the benefit or account of a non-U.S. person by a dealer
                or other
                professional fiduciary organized, incorporated, or (if an individual)
                resident in the United States;

            

    

    

    
      	
               

            	
              ii.

            	
              Any
                estate of which any professional fiduciary acting as executor or
                administrator is a U.S. person if:

            

    

    

    
      	
               

            	
              A.

            	
              An
                executor or administrator of the estate who is not a U.S. person
                has sole
                or shared investment discretion with respect to the assets of the
                estate;
                and

            

    

    

    
      	
               

            	
              B.

            	
              The
                estate is governed by foreign law;

            

    

    
      	
               

            	 

    

    
      	
               

            	
              iii.

            	
              Any
                trust of which any professional fiduciary acting as trustee is a
                U.S.
                person, if a trustee who is not a U.S. person has sole or shared
                investment discretion with respect to the trust assets, and no beneficiary
                of the trust (and no settlor if the trust is revocable) is a U.S.
                person;

            

    

    
      	
               

            	 

    

    
      	
               

            	
              iv.

            	
              An
                employee benefit plan established and administered in accordance
                with the
                law of a country other than the United States and customary practices
                and
                documentation of such country;

            

    

    
      	
               

            	 

    

    
      	
               

            	
              v.

            	
              Any
                agency or branch of a U.S. person located outside the United States
                if:

            

    

    
      	
               

            	 

    

    
      	
               

            	
              A.

            	
              The
                agency or branch operates for valid business reasons;
                and

            

    

    

    
      	
               

            	
              B.

            	
              The
                agency or branch is engaged in the business of insurance or banking
                and is
                subject to substantive insurance or banking regulation, respectively,
                in
                the jurisdiction where located; and

            

    

    
      	
               

            	 

    

    
      	
               

            	
              vi.

            	
              The
                International Monetary Fund, the International Bank for Reconstruction
                and
                Development, the Inter-American Development Bank, the Asian Development
                Bank, the African Development Bank, the United Nations, and their
                agencies, affiliates and pension plans, and any other similar
                international organizations, their agencies, affiliates and pension
                plans.

            

    

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

    Rule
      902(l):  United States. "United States" means the United
      States of America, its territories and possessions, any State of the United
      States, and the District of Columbia.

    

    2.           Except
      as amended by this Amendment, the remaining terms and provisions of the
      Agreement shall remain unchanged.

    

    IN
      WITNESS WHEREOF, each of the Company and MZ have executed this
      Amendment, agreeing to be bound by the terms hereof, as of the day and year
      first-above written.

    

    
      	 	
              POWER
                OF THE DREAM VENTURES, INC.

            
	 	 	 	 
	 	 	 	 
	 	
              By

            	 
	 	 	
              Name:  
                

            	
              Viktor
                Rozsnyay, President

            
	 	 	 	 
	 	 	 	 
	 	
              CONSULTANT:

            
	 	 	 	 
	 	 	 	 
	 	 
	 	
              Name:  
                

            	
              Mr.
                Mihaly Zala

            

    

     

     

    5

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