Document:

ex10-5.htm

Exhibit 10.5

 

STOCK PURCHASE AGREEMENT

THIS AGREEMENT is made and entered into this 20th day of September, 2012, by and between MAINSTREAM ENTERTAINMENT, INC., ("Seller") with the address of 11637 Orpington St, Orlando, FL and, FIRST POWER & LIGHT, LLC, ("Purchaser") with the 200 Bar Harbor Dr., Ste 400, Conshohocken, PA 19429.

WHEREAS, the Seller is the record and beneficial owner and holder of 50,000,000 issued from the Treasury of the capital stock of Mainstream Entertainment, Inc, ("Corporation"), a Florida corporation; and

WHEREAS, the Purchaser desires to purchase said stock and the Seller desires to sell said stock, upon the terms and subject to the conditions hereinafter set forth;

NOW, THEREFORE, in consideration of the mutual covenants and agreements contained in this Agreement, and in order to consummate the purchase and the sale of the Corporation's Stock aforementioned, it is hereby agreed as follows:

1. PURCHASE AND SALE: Subject to the terms and conditions hereinafter set forth, at the closing of the transaction contemplated hereby, the Seller shall sell, convey, transfer, and deliver to the Purchaser certificates representing such shares of common stock, and the Purchaser shall purchase from the Seller the Corporation's shares of common stock in consideration of the purchase price set forth in this Agreement. The certificate representing the Corporation's Stock shall be duly endorsed for transfer or accompanied by appropriate stock transfer powers duly executed in blank, in either case with signatures guaranteed in the customary fashion. The closing of the transaction contemplated by this Agreement ("Closing"), shall be held at 11637 Orpington St., or such other place, date and time as the parties hereto may otherwise mutually agree. Stock can be assigned.

2. AMOUNT AND PAYMENT OF PURCHASE PRICE. The total consideration and method of payment thereof is 50,000,000 @ $.01 for a total of $50,000.00.

3. REPRESENTATIONS AND WARRANTIES OF SELLER. Seller hereby warrants and represents:

(a) Organization and Standing. Corporation is a corporation duly organized, validly existing and in good standing under the laws of the State of Florida and has the corporate power and authority to carry on its business as it is now being conducted.

  

  

  

(b) Restrictions on Stock.

	
i.  

	
The Seller is not a party to any agreement, written or oral, creating rights in respect to the Corporation's Stock in any third person or relating to the voting of the Corporation's Stock. The stock will be issued with a 144 Legend.

 

	
ii.  

	
Seller is the lawful owner of the shares of common stock, free and clear of all security interests, liens, encumbrances, equities and other charges.

4. REPRESENTATIONS AND WARRANTIES OF SELLER AND PURCHASER. Seller and Purchaser hereby represent and warrant that there has been no act or mission by Seller, Purchaser or the Corporation which would give rise to any valid claim against any of the parties hereto for a brokerage commission, finder's fee or other like payment in connection with the transactions contemplated hereby.

5. GENERAL PROVISIONS

(a) Entire Agreement. This Agreement (including the exhibit hereto and any written amendments hereof executed by the parties) constitutes the entire Agreement and supersedes all prior agreements and understandings, oral and written, between the parties hereto with respect to the subject matter hereof.

(b) Sections and Other Headings. The section and other headings contained in this Agreement are for reference purposes only and shall not affect the meaning or interpretation of this Agreement.

(c) Governing Law. This agreement and all transactions contemplated hereby, shall be governed by, construed and enforced in accordance with the laws of the State of Florida.

IN WITNESS WHEREOF, this Agreement has been executed by each of the individual parties hereto on the date first above written.

	
/s/ Charles Camorata

	
9/20/12

	
Charles Camorata

	
Date

	  	  
	  	  
	
/s/ Malcolm Adler

	
9/30/12

	
Malcolm Adler

	Dateex10-6.htm

Exhibit 10.6

FIRST ADDENDUM TO

STOCK PURCHASE AGREEMENT

This First Addendum to Stock Purchase Agreement (this “Agreement”) dated January 3, 2013, to be effective as of September 20, 2012 (the “Effective Date”), is by, between and among Mainstream Entertainment, Inc. (the “Seller”) and First Power & Light, LLC (the “Purchaser”), each a “Party” and collectively the “Parties.”

	
  

	
W I T N E S S E T H:

WHEREAS, the Parties previously entered into a Stock Purchase Agreement (the “Stock Purchase”) on or around September 20, 2012, a copy of which is attached hereto as Exhibit A;

WHEREAS, capitalized terms used herein and not otherwise defined shall have the meanings ascribed to such terms in the Stock Purchase; and

WHEREAS, the Parties desire to enter into this Agreement to amend, modify and clarify certain provisions, terms and conditions of the Stock Purchase and to provide for an addendum to the Stock Purchase as set forth herein.

NOW, THEREFORE, in consideration of the premises and the mutual covenants, agreements, and considerations herein contained and set forth in the Stock Purchase, and other consideration, which consideration the Parties hereby acknowledge and confirm the sufficiency thereof, the Parties hereto agree as follows:

1.           Amendments, Clarifications and Addendums to the Purchase Agreement.

	
(a)  

	
The transactions contemplated by the Stock Purchase have not closed to date as such transactions are subject to the satisfaction of those terms and conditions set forth in the Letter of Intent by and between the Parties dated July 2, 2012, a copy of which is attached hereto as Exhibit B (which shall include, but not be limited to the Seller being DTC eligible)(collectively, the “Closing Conditions”).

	
(b)  

	
Purchaser has previously paid the $50,000 due to the Seller in connection with the purchase of the 50,000,000 shares of restricted common stock (the “Shares”) contemplated by the Stock Purchase (the “Purchase Price”) and the Seller has previously issued the Shares, which are currently being held in escrow pending the satisfaction of the Closing Conditions.

	
(c)  

	
The Shares shall not be treated as beneficially owned by the Purchaser (or its assigns) and the Purchaser (and/or its assigns) shall have no right to vote or dispose of such Shares until the Closing Conditions are met.

 

 

 

  

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(d)  

	
The Seller has previously had access to and in fact has used the Purchase Price (or a portion thereof) for general working capital.

	
(e)  

	
The Shares shall continue to be held in escrow by the Seller pending the satisfaction of the Closing Conditions, and subject to cancellation as provided below, and the Seller shall have full access to and use of the Purchase Price.

	
(f)  

	
In the event the Closing Conditions do not occur and the Parties mutually agree to terminate the Purchase Agreement, the Seller shall cancel the Shares and shall promptly pay $50,000 to the Purchaser at which time the Purchase Agreement shall be considered terminated and cancelled.  The Purchaser (and its assigns) shall provide reasonable assistance to and execute whatever documentation the Seller or its Transfer Agent may reasonably request from the Purchaser (and its assigns) in order to affect such cancellation.

	
(g)  

	
The Purchaser (and/or its assigns) shall execute such documentation and certifications as the Seller shall reasonably request from time to time to insure and confirm that a valid exemption from registration exists for the issuance of the Shares prior to the transfer of the Shares to the Purchaser, which shall hereafter be an additional Closing Condition of the purchase of the Shares.

 

2.           Reconfirmation of Stock Purchase. The Parties hereby reaffirm all terms, conditions, covenants, representations and warranties made in the Stock Purchase, to the extent the same are not amended hereby.

 

 

3.           Effect of Agreement. Upon the effectiveness of this Agreement, each reference in the Stock Purchase to “Agreement,” “hereunder,” “hereof,” “herein” or words of like import shall mean and be a reference to such Stock Purchase as modified or waived hereby.

 

 

4.           Stock Purchase to Continue in Full Force and Effect.  Except as specifically modified herein, the Stock Purchase and the terms and conditions thereof shall remain in full force and effect.

 

5.           Effect of Facsimile and Photocopied Signatures. This Agreement may be executed in several counterparts, each of which is an original.  It shall not be necessary in making proof of this Agreement or any counterpart hereof to produce or account for any of the other counterparts.  A copy of this Agreement signed by one Party and faxed to another Party shall be deemed to have been executed and delivered by the signing Party as though an original.  A photocopy of this Agreement shall be effective as an original for all purposes.

[Remainder of page left intentionally blank.  Signature page follows.]

 

 

 

 

 

 

 

 

  

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

	  	
Mainstream Entertainment, Inc.

	  	  
	  	
By: /s/ Charles Camorata            

	  	  
	  	
Its: President                                   

	  	  
	  	
Printed Name: Charles Camorata

	  	  
	  	
Date:  1/3/13                                   

	  	  
	  	  
	  	
First Power & Light, LLC

	  	  
	  	
By: /s/ Malcolm Adler                     

	  	  
	  	
Its:  President                                    

	  	  
	  	
Printed Name: Malcolm Adler        

	  	  
	  	
Date:  1/3/13                                     

 

 

 

 

  

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