Document:

INDEMNIFICATION

INDEMNITY AGREEMENT

THIS INDEMNITY AGREEMENT is made and entered into effective the 31 day of December, 2010, between Athena Silver Corporation, a Delaware corporation (“Athena” or the “Company”), John Gibbs (“Gibbs”), and John C. Power (“Power”).  (Gibbs and Power shall be referred to individually as an “Indemnitor” and collectively as (“Indemnitors”).

Recitals

A.

Concurrently herewith, the Indemnitors have acquired and purchased from Athena 100% of the issued and outstanding shares of common stock of Golden West Brewing Company, a California corporation (“Golden West”), formerly a wholly-owned subsidiary, for nominal consideration.

B.

As inducement to Indemnitors to purchase all issued and outstanding 

shares of Golden West, Athena has agreed to grant and issue to Indemnitors an aggregate of 2.5 million shares of common stock of Athena in consideration of Indemnitors agreeing to indemnify, defend and hold harmless Athena from any obligation or liability for the debts of Golden West, which are approximately $1.0 million.

NOW, THEREFORE, in consideration of the mutual covenants and agreements herein contained, and for other good and valuable consideration the receipt and sufficiency whereof are hereby acknowledged, the parties agree as follows:

1.

Concurrently with the execution and delivery of this Agreement, Athena shall grant and issue to Indemnitors, as tenants in common, an aggregate of 2.5 million shares of Athena common stock (the “Athena Shares”).  The Athena Shares are and will be “restricted securities” within the meaning of Rule 144 under the Securities Act of 1933, as amended; and the certificate evidencing such shares shall bear the customary restrictive legend under Rule 144. 

2.

In consideration of the Athena Shares, Gibbs and Power, individually, jointly and severally, for themselves,  their successors and assigns, (“Indemnitors”) hereby agree to defend, indemnify and hold harmless Athena, together with its officers and directors (exclusive of Power), shareholders (exclusive of Gibbs and Power), subsidiaries,  agents, representatives, successors and assigns, (“Indemnitees”) from and against any and all claims, debts, liabilities, obligations and damages of whatsoever kind or description, known or unknown, direct or indirect, at law or in equity, whether now existing or arising in the future, including any and all judgments and/or awards to which they may become subject under any federal, state or local statute, rule regulation or order, or at common law or otherwise, arising out of or in connection with its former ownership and control of Golden West, or any act or omission related thereto,  and the Indemnitors further agree to defend, indemnify and hold harmless Indemnitees against any and all costs and expenses, including reasonable legal fees and costs incurred and related to the foregoing.

3.

Upon the occurrence of any event which would give rise to a claim by Indemnitees against, or to a rights of defense and indemnity against Indemnitor hereunder, or in the event that any suit, action, proceeding, investigation or claim is begun, made or instituted as a result of which Indemnitor may become obligated to Indemnitees hereunder, Indemnitees shall give written notice to Indemnitor of the occurrence of such event and shall identify Indemnitees’ choice of counsel to represent such  investigation, claim or proceedings, provided that the failure of Indemnitees to give notice  shall not affect the indemnification obligations of Indemnitor hereunder.  Indemnitees shall have the exclusive right to so defend, contest or protect against such matter utilizing the counsel of Indemnitees’ choice (who shall be reasonably acceptable to Indemnitor). Indemnitor shall have the right, but not the obligation, to participate at its own expense in the defense thereof by counsel of their choice.  Indemnitees shall not pay, acknowledge, compromise or settle any such claim without the consent of Indemnitor, unless such payment, acknowledgment, compromise or settlement results in a full and complete release and discharge of Indemnitor from any liability.

4.

All expenses incurred by Indemnitees for which indemnification hereunder is provided and after any final judgment or award shall have been rendered by a court, arbitration board or administrative agency of competent jurisdiction, or a settlement shall have been consummated, Indemnitees shall forward to Indemnitor written notice of any sums due and owing by them pursuant to this Agreement and Indemnitor shall pay all of the sums due and owing to Indemnitees within ten days of such notice.

INDEMNITORS

_____/s/ John Gibbs__________

John Gibbs

____/s/ John C. Power________

John C. Power

INDEMNITEES

Athena Silver Corporation

By:___/s/ Brian Power_________

Brian PowerConverted by EDGARwiz

AMENDMENT NO. 1 TO

INDEMNITY AGREEMENT

This Amendment No. 1 to Indemnity Agreement (“Amendment”) is made and entered into effective December 31, 2010, by and between Athena Silver Corporation, a Delaware corporation (“Athena” or the “Company”), John Gibbs (“Gibbs”), and John C. Power (“Power”).  (Gibbs and Power shall be referred to individually as an “Indemnitor” and collectively as (“Indemnitors”).

RECITALS

A.

The parties executed and delivered an Indemnity Agreement dated as of December 31, 2010 (the “Indemnity”).

B.

The parties desire to amend the Indemnity in the particulars hereinbelow set forth.

NOW, THEREFORE, in consideration of the mutual covenants contained in this Agreement the parties agree as follows:

1.

Unless otherwise defined herein, all capitalized terms shall have the meaning set forth in the Indemnity.

2.

Paragraph No. 1 of the Indemnity is hereby amended, in its entirety, to read as follows:

“1.

In consideration of the indemnity provisions of paragraph 2 below, concurrently with the execution and delivery of this Agreement, Athena shall grant and issue to Indemnitors, as tenants in common, an aggregate of 2.5 million shares of Athena common stock (the “Athena Shares”).  The Athena Shares are and will be “restricted securities” within the meaning of Rule 144 under the Securities Act of 1933, as amended; and the certificate evidencing such shares shall bear the customary restrictive legend under Rule 144.  As additional consideration of the indemnity provisions of paragraph 2 below, Athena agrees to forgive all intercompany indebtedness and obligations owed by Great Western Brewing Company, a California corporation to Athena as of December 31, 2010.”

3.

All other terms, agreements and covenants contained in the Indemnity shall be deemed to be and remain in full force and effect.  In the event of any conflict or inconsistency between the provisions of the Indemnity and the covenants contained in this Amendment, the provisions of this Amendment shall control.  

4.

This Amendment shall be deemed effective as of December 31, 2010.

IN WITNESS WHEREOF, the undersigned have hereunto set their hand and seal the day and year first above written.

INDEMNITORS

_____/s/ John Gibbs_________

John Gibbs

____/s/ John C. Power________

John C. Power

INDEMNITEES

Athena Silver Corporation

By:___/s/ Brian Power_______

Brian Powerex101.htm

Exhibit 10.1

 

ASSET TRANSFER, ASSIGNMENT AND ASSUMPTION AGREEMENT

THIS ASSET TRANSFER, ASSIGNMENT AND ASSUMPTION AGREEMENT ("Agreement) is made and entered into this 31st day of December, 2010, by, between and among, PROGRESSIVE TRAINING TRAINING, INC., a Delaware corporation (“Assignor”) and FUTURA PICTURES, INC., a Delaware corporation, (“Assignee”), with respect to the following:

RECITALS

A.           WHEREAS, Assignor has decided to change its business from that of producing and distributing workforce training videos to owning and operating retail pharmacies.

B.           WHEREAS, to facilitate this change of business Assignor intends to transfer all of its assets related exclusively to its workforce training business (the “Business") to Assignee in exchange for Assignee's assumption of all of the liabilities of the Business;

C.           WHEREAS, the parties desire to set forth the terms of the transfer and assumption herein.

NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereby agree as follows:

1.           Transfer Assignment and Assumption.

1.1           Transfer and Assignment of Assets. Assignor hereby grants. conveys, assigns and transfers to Assignee all of its right, title and interest in and to all of the Assets including, but not limited to, the following:

1 .1 .1                      Intellectual Property. All of those trademarks, trade names, copyrights, service marks, licenses or patents listed in the Schedule of Assets attached hereto and marked as Exhibit “A” and incorporated heroin by referenced (the "Assets");

1.1 .2                      Personal Property. All of those items of furniture, fixtures, all associated production equipment and other equipment, computer equipment, hardware and other tangible personal property listed on Exhibit “A”;

1.1.3                      Program Agreement. All of the Assignor's right, title and interest in and to those certain production and distribution agreements and contracts (the "Agreements") also listed in Exhibit “A”;

  

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1.1.4                      Equipment Leases. All of Assignor's right, title and interest as lessee in and to those certain equipment leases for leased equipment owned by Assignor listed on Exhibit “A”;

1.1.5                      Contracts Accounts Receivable and Inventory. Any contracts, accounts receivable and inventory of Assignor relating exclusively to the Business listed on attached hereto as Exhibit "A"; and,

1.1 .6                      All Other Assets. All of the other assets of Assignor described in Exhibit “A” whether or not specifically referred to in any of the preceding paragraphs of this Section 1.

1 .2           Assumption of  Liabilities. Assignee accepts the grant, conveyance, assignment and transfer of the Assets as provided in Section 1 .1 and in exchange for Assignor's transfer of Assets, the Assignee agrees to irrevocably and unconditionally assume all of the liabilities on the list attached as Exhibit “B”

2.           No Further Conveyance Necessary. This Agreement shall effectively assign, transfer and convey all of the interest in the Assets from Assignor to Assignee without any further documents of conveyance.  Likewise, this Agreement shall fully evidence the assumption of all of the Liabilities by Assignee without any further instrument of conveyance or assumption.

3.           Representations of Assignor. Assignor represents and warrants as follows as of the date hereof:

3.1           Organization, etc. Assignor is a corporation duly organized, validly existing and in good standing under the laws of the State of Delaware and has the corporate powers necessary to own its property and to carry on its business as now conducted and as proposed to be conducted.

 

 

3.2.            Authorization. The execution and delivery of this Agreement and the consummation of the transactions contemplated hereby have been duty and validly authorized by all necessary corporate action on the part. of Assignor.  This Agreement constitutes the valid and binding obligation of Assignor, enforceable against it in accordance with its terms.

3.3           No Breach. The execution and delivery of this Agreement and the consummation of the transactions contemplated hereby will not violate, result in any breach of, or constitute a default under (1) Assignor's Certificate of Incorporation or Bylaws, (ii) any material agreement to which Assignor is a party or by which Assignor is bound, (iii) any order, judgment, injunction or decree of any court, arbitrator or governmental agency binding upon Assignor or by which all of' its material assets are bound or (iv) any law, rule or regulation applicable to Assignor,

3.4           Title to Property. Assignor will transfer to Assignee on the date hereof good and marketable title to the Assets, free and clear of mortgages, pledges, charges, encumbrances, equities, claims covenants, conditions or reclaims, except for matters that, in the aggregate are not substantial in amount and do not materially detract from or interfere with the present or intended use of any of the Assets, or materially impair the Business (other than the Liabilities).

3.6           Effects of representations. The representations and warranties of Assignor set forth in Section 3 are made solely for the purpose of this Agreement and shall not (i) survive the consummation of the transactions contemplated by this Agreement, (ii) inure to the benefit of, or be enforceable by or against, either the successors or permitted assigns of the parties hereto or any other person, or (iii) give rise to any action or claim against Assignor, including, without limitation, any action for negligent misrepresentation.

4.           Indemnification. The Assignor and Assignee agree to indemnification and hold harmless each other as follows:

 

 

  

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4.1            Assignor shall indemnify, defend and hold harmless Assignee from any and all loss, cost, expense and liability (including attorneys' fees incurred in connection with any claim or asserted claim which may be made against Assignee and which arises directly or indirectly from any breach of this Agreement by Assignor.

4.2           Assignee shall indemnify, defend and hold harmless Assignor from any and all loss, cost, expense and liability (including attorneys' fees) incurred in connection with any claim or asserted claim which may be made against Assignor and which arises directly or indirectly from its officer's breach of this Agreement by Assignee.

4.3           Promptly after receipt of notice of the commencement of any action in respect of which indemnity may he sought against either party hereunder, the indemnified party will notify the other party in writing of the commencement thereof and the other party shall. subject to the provisions stated below, assume the defense of such action (including the employment of counsel who shall be counsel reasonably satisfactory to the indemnified party and shall not be counsel to the other party), and the payment of expenses insofar as such action shall relate to any alleged liability in respect of which indemnity as available, The indemnified party shall have the right to employ separate counsel in any action and to participate in the defense thereof, hut the fen and expenses of its counsel shall not be at the expense of the other party unless the employment of that counsel has been specifically authorized by the other party.

5.    Representations of Assignee. Assignee represents and warrants as follows:

5.1            No Breach. The execution and delivery of this Agreement and the consummation of the transactions contemplated hereby will not violate (i) any material agreement to which Assignee is a parry or by which Assignee is hound, (ii) any orders judgment, injunction or decree of' any court, arbitrator or governmental agency binding upon Assignee or by which any of its material assets are bound or (iii) any law, rule or resolution applicable to Assignee,

5.2           Effect of Representations. The representations and warranties of Assignee set forth in paragraphs 6.1, arc made solely for the purpose of this Agreement and shall not (I) survive the consummation of the transactions contemplated by this Agreement, (ii) inure to the benefit of, or he enforceable by, either the successors or permitted assigns of the parties hereto or any other person, or (iii) give rise to any action or claim against Assignee, including, without limitation, any action for negligent misrepresentation.

6.           Miscellaneous.

6.1.           Assignment. No assignment or transfer of any interest, right or obligation of any party hereunder shall be allowed without the prior written consent of all parties to this Agreement.

6.2           Amendments. This Agreement may not he amended, supplemented or otherwise modified except in writing signed by or on behalf of each party hereto.

6.3           Severability. In the event that any provision of this Agreement shall be held to be invalid, illegal or unenforceable, in whole or in part, such invalidity, illegality or unenforceability shall not in any way whatsoever affect the validity of the other provisions of this Agreement and such other provisions shall remain in full force and effect,

 

6.4           Governing Law. This Agreement shall be governed by the laws of the State of California.

 

  

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 IN WITNESS WHEREOF, the parties hereto have caused this AGREEMENT to be executed in multiple originals as of the day and year first above written.

"Assignor"

PROGRESSIVE TRAINING TRAINING, INC., a Delaware corporation

By:/s/ Avraham A. Friedman

Name: Avraham A. Friedman

Title: CEO

"Assignee"

FUTURA PICTURES, INC., a Delaware corporation

By:/s/ Buddy Young

Name: Buddy Young

Title:   President, CEO and CFO

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