Document:

Exhibit 10.7

Exhibit
10.7

 

Consultant
Agreement 

 

with
Darrel T. Uselton & his affiliates (Protrading.com)

Darrel
Uselton, ProTrading.com 

16000
Barker’s Point Lane, Suite 170

Houston,
Texas 77079

Phone
(281) 584-0751 - Email darrel@protrading.com 

October
14, 2004

HouseRaising,
Inc.

4801 E.
Independence Blvd.

Charlotte,
NC 28212

Attn:
Robert McLemore, President

Dear Mr.
McLemore:

This is
to confirm our understanding that you wish to engage Darrel
T. Uselton (“Uselton”),
and his affiliates, to include ProTrading.com (“ProTrading”) a division of
Warrior Capital (“Warrior”), as Capital Markets Advisors to HouseRaising,
Inc. -
OTCBB: HRAI - (the
“Company”) with respect to capital market operations, secondary market trading,
and general investor relations matters for the Twelve
month
period commencing the date hereof. In connection with duties performed hereunder
by Uselton or his affiliates, each shall devote such business time and attention
to matters on which the Company shall request its services. Uselton and/or his
affiliates shall render all services.

A. Financial
Services

During
the term of this agreement, Uselton and/or his affiliates shall provide the
Company with such regular and customary investor relations and capital market
management services as are reasonably requested by the Company, provided that we
shall not be required to undertake duties not reasonably within the scope of the
services in which we are generally engaged. In performance of our duties, we
shall provide the Company with the benefits of our best judgment and efforts. It
is understood and acknowledged by the parties that the value of our services and
advice is not measurable in a quantitative manner and we shall be obligated to
render advice and services upon the request of the Company, in good faith, as
shall be determined by us. Our duties may include, but will not necessarily be
limited to:

	·  	
      Periodic
      reporting as to developments concerning the general financial markets and
      the public securities markets which may be of interest or concern to the
      Client or the Client’s business.

	·  	
      Assistance
      in engaging PR, IR and/or advertising firms or mediums;

	·  	
      Broker/dealer
      and/or institutional investor contacts and introductions for
      Client

	·  	
      Outside
      market maker selection & management, 

	·  	
      Secondary
      trading management, and 

	·  	
      Proprietary
      sponsorship & market support.

The
Company acknowledges that Uselton and/or his affiliates may for its own account,
structure and invest in proprietary investments in the Company, outside
the scope of this Agreement and not for compensation provided for under this
Agreement.

 

1

The
Company further acknowledges that Uselton and/or his affiliates are in the
business of providing capital market’s services (of all types contemplated by
this agreement) to others. Nothing herein contained shall be construed to limit
or restrict Uselton and/or his affiliates in conducting such business with
respect to others or in rendering such advice to others.

B.
 Compensation

In
consideration of such services described herein, the Company agrees to:

(i) Issue to
Uselton, or his designee(s), 250,000 newly
issued 144 restricted shares, payable within 10 calendar days upon approval
& acceptance of this Agreement by the Company, to be held by Uselton, or his
designee(s), as a long-term investment, and 

(ii)
Arrange
from a stockholder of the Company or his designee(s), 50,000
registered
or otherwise freely tradable common shares (“Stock”), payable within 5 calendar
days upon approval & acceptance of this Agreement by the
Company.

(iii) Arrange
from a stockholder of the Company or his designee(s), 200,000
common
shares (“Stock”) to be qualified and registered in the Company’s next
registration statement (SB-2), expected to occur within 60 calendar days of
approval & acceptance of this Agreement by the Company

It is
also hereby agreed that Uselton and the Company may in good faith negotiate
additional stock options with third party stockholders of the Company, at
various prices, on an as needed basis, to effectuate a stable secondary market
or for financing options.

The
payments referenced in this paragraph shall be in addition to any other
compensation, reimbursement of expenses, or costs described herein.

C. General

The
services to be provided by Uselton and/or his affiliates hereunder, do not
include the giving of tax, legal, regulatory, actuarial or other specialist
advice or the provision of any other services unless we specifically agree in
writing to provide such services. Uselton will have no liability in respect of
any services or advice provided to the Company by persons other than Uselton’s
affiliates (including accountants, legal advisers and other specialist advisers)
and the degree to which we may rely on the work of such other persons shall not
bc affected by any limitation of liability for such work agreed between them and
the Company.

Notwithstanding
that Uselton and/or its affiliates are not held responsible or liable for due
diligence, we reserve the right at our absolute discretion and for our own
purposes to take whatever steps we may consider appropriate to satisfy ourselves
as to the accuracy and completeness of any public documents issued in connection
with any transaction and the Company agrees to co-operate fully with us in the
taking of such steps.

If we
think it necessary or desirable, we may delegate the performance of any of the
services set out in this letter to any of our affiliated parties.

In
addition to all other charges payable to Uselton as per the terms hereof, the,
Company agrees to reimburse us, upon requests made from time to time, for all of
our reasonable pre-approved, out-of-pocket expenses incurred in connection with
our activities under this agreement. 

D. Indemnity

 

The
Company agrees to indemnify Uselton, his affiliates and all related persons, in
accordance with the indemnification letter annexed hereto as Schedule A, the
provisions of which are incorporated herein in their entirety.

This
letter, including Schedule A, constitutes the entire understanding of the
parties with respect to the subject matter hereof and may not be altered or
amended except in a writing signed by both parties. This agreement shall be
governed by and construed under the laws of the State of Oklahoma without regard
to principles of conflicts of law thereof. Neither the execution and delivery of
this letter by the Company nor the consummation of the transactions contemplated
hereby will, directly or indirectly, with or without the giving of notice or
lapse of time, or both: (i) violate any provisions of the Certificate of
Incorporation or By-laws of the Company; or (ii) violate, or be in conflict
with, or constitute a default under, any agreement, lease, mortgage, debt or
obligation of the Company or require the payment, any pre-payment or other
penalty with respect thereto.

If the
foregoing correctly sets forth the terms of our agreement, kindly so indicate by
signing and returning the enclosed copy of this letter, along with securities
registered in the name of WARRIOR
CAPITAL, LLC, in the
appropriate amounts as per the terms of Section B above.

 

2

 

	 	 	 
	 	Darrel T. Uselton,
      ProTrading.com
	 
 	 
 	 
 
		By:  	/s/ Darrel T. Uselton
      
	 	
      

      By: Darrel T. Uselton
      
	 	Title:  Managing
Director

 

	 	 	 
	 	HouseRaising,
Inc.
	 
 	 
 	 
 
	Date: this 14th day of October, 2004	By:  	/s/ 
	 	
      

      Name: Robert McLemore
	 	Title:  President

 

Delivery
Instructions

Certificates
By Mail:   Warrior
Capital, LLC

                                                                  16000
Barker’s Point Lane, Suite 170

                                                                 
Houston,
Texas 77079 

                                                                 
Phone
(281) 584-0751

By
Journal Transfer:   Ameritrade

                                                                  
For
Credit to: Warrior Capital, LLC

                                                                  
Acct #
781292057

 

3

SCHEDULE
A - INDEMNIFICATION

Recognizing
that matters of the type contemplated in this engagement sometimes result in
litigation and that our role is advisory, the Company agrees to indemnify and
hold harmless Uselton, his affiliates and their respective officers, directors,
employees, agents and controlling persons (collectively, the “Indemnified
Parties”), from and against any losses, claims, damages and liabilities, joint
or several, related to or arising in any manner out of any transaction,
financing, proposal or any other matter (collectively, the “Matters”)
contemplated by the engagement of Uselton hereunder, and will promptly reimburse
the Indemnified Parties for all expenses (including fees and expenses of legal
counsel) as incurred in connection with the investigation of, preparation for or
defense of any pending or threatened claim related to or arising in any manner
out of any Matter contemplated by the engagement of Uselton hereunder, or any
action or proceeding arising therefrom (collectively, “Proceedings”), whether or
not such Indemnified Party is a formal party to any such Proceeding.
Notwithstanding the foregoing, the Company shall not however, be liable in
respect of any losses, claims, damages, liabilities or expenses that a court of
competent jurisdiction shall have determined by final judgment resulted solely
from the gross negligence or willful misconduct of an Indemnified
Party.

The
Company agrees that if any indemnification or reimbursement sought pursuant to
this letter is held by a court for any reason to not be available to any
Indemnified Party or insufficient to hold it harmless as and to the extent
contemplated by this letter, then the Company shall contribute to the amount
paid or payable by such Indemnified Party in respect of losses, claims, damages
and liabilities in such proportion as is appropriate to reflect the relative
benefits to the Company and its stockholders on the one hand, and Uselton on the
other, in connection with the Matters to which such indemnification or
reimbursement relates or, if such allocation is not permitted by applicable law,
not only such relative benefits but also the relative faults of such parties to
the Company and/or its stockholders and to Uselton with respect to Uselton’s
engagement shall be deemed to be in the same proportion as (i) the total value
paid or received or to be paid or received by the Company and/or its
stockholders pursuant to the Matters (whether or not consummated) for which
Uselton is engaged to render financial advisory services bears to (ii) the fees
paid to Uselton in connection with such engagement. In no event shall the
Indemnified Parties contribute or otherwise be liable for an amount in excess of
the aggregate amount of fees actually received by Uselton pursuant to such
engagement (excluding amounts received by Uselton as reimbursement of
expenses).

The
indemnity, reimbursement, contribution provisions set forth herein shall remain
operative and in full force and effect regardless of (i) any withdrawal,
termination or consummation of or failure to initiate or consummate any Matter
referred to herein, (ii) any investigation made by or on behalf of any party
hereto or any person controlling (within the meaning of Section 15 of the
Securities Act of 1933, as amended, or Section 20 of the Securities Exchange Act
of 1934, as amended) any party hereto, (iii) any termination or the completion
or expiration of this letter or Uselton’s engagement and (iv) whether or not
Uselton shall, or shall not be called upon to, render any formal or informal
advice in the course of such engagement.

 

4Exhibit 10.25

                             SUBSCRIPTION AGREEMENT
                             ----------------------

March 29, 2005

The Board of Directors
Rush Financial Technologies, Inc.
13355 Noel Road, Suite 300
Dallas, Texas 75240

Gentlemen:

1.     Subscription.  On the terms  set  forth  below,  the  undersigned  hereby
subscribes  for the shares of Common  Stock (the  "Shares")  and Stock  Purchase
Warrants  (the  "Warrants")  in  Rush  Financial  Technologies,  Inc.,  a  Texas
corporation  (the "Company") set forth on the Signature Page. In connection with
such  subscription,  the undersigned  hereby tenders to the Company two executed
counterparts of this Subscription Agreement, together with a check acceptable to
the  Company  in an amount  equal to the full  purchase  price of the Shares and
Warrants  subscribed  for  hereunder  as set forth on the  Signature  Page.  The
undersigned  understands  and agrees that the Company may decline to accept this
subscription,  in which case all instruments  tendered herewith will be promptly
returned.  If the Company  accepts this  subscription,  such  acceptance will be
signified by executing the  acknowledgment  on the appropriate page of each copy
hereof tendered by the undersigned and causing one such  acknowledged copy to be
returned to the undersigned.

2.     Delivery  of  Information.   The  undersigned  acknowledges  constructive
receipt of the Company's  disclosure  materials on file with the  Securities and
Exchange  Commission.  In  addition,  the  undersigned  has  received  all other
information  deemed  material  by the  Subscriber  to the making of an  informed
decision whether to invest in the Company.

3.     Representations,  Warranties,  and  Covenants  of  the  Undersigned.  The
undersigned  hereby represents and warrants to and covenants with the Company as
follows:

       (a)    The  undersigned  understands  that the following  information  is
       being  furnished to determine  whether sales of the Shares may be made to
       the  undersigned  pursuant to Section 4(2) of the  Securities Act of 1933
       (the "1933 Act") and applicable  state  securities  laws. The undersigned
       understands that the information contained herein will be relied upon for
       purposes of such  determination,  and the Shares  will not be  registered
       under  the 1933 Act in  reliance  upon the  exemption  from  registration
       provided by Section 4(2) of the 1933 Act. The undersigned  represents and
       warrants to the Company and its officers, directors, agents and employees
       that; (i) the information  contained  herein is complete and accurate and
       may be relied upon by such parties,  and (ii) the undersigned will notify
       the  Company  immediately  of  any  change  in any  of  such  information
       occurring  prior to the  closing  of the  purchase  of any  Shares by the
       undersigned.  All information  furnished herein or hereby is for the sole
       use of the Company and the  Company's  representatives  and counsel,  and
       will be held in confidence by such  persons,  except that this  Agreement
       may be furnished to such parties as may be deemed  desirable to establish
       compliance with federal, state or foreign securities laws.

                                       6
<PAGE>

       (b)    The  undersigned has adequate net worth and means of providing for
       his/her  current  needs  and  possible  personal  contingencies,  and the
       undersigned  has no  need,  and  anticipates  no need in the  foreseeable
       future, to sell the Shares for which the undersigned  hereby  subscribes.
       The  undersigned  is able to bear the economic  risks of this  investment
       and, consequently,  without limiting the generality of the foregoing, the
       undersigned  is able to hold his/her  Shares for an indefinite  period of
       time and has a sufficient  net worth to sustain a loss of his/her  entire
       investment  in the  Company  in the event  such loss  should  occur.  The
       overall commitment by the undersigned to investments that are not readily
       marketable  is not  disproportionate  to his/her  net worth,  and his/her
       acquisition  of Shares will not cause such overall  commitment  to become
       excessive.  The undersigned is an "Accredited Investor" as defined by SEC
       Regulation D.

       (c)    The undersigned has such knowledge and experience in financial and
       business matters that the undersigned is capable of evaluating the merits
       and risks of an investment in the Shares.

       (d)    The undersigned  confirms that all documents,  records,  and books
       pertaining to the undersigned's  proposed  investment in the Company have
       been made available to the undersigned.

       (e)    The  undersigned  has had an  opportunity  to ask questions of and
       receive  satisfactory  answers from the Company, or any person or persons
       acting on the Company's  behalf,  concerning  the terms and conditions of
       this  investment,  and all such  questions have been answered to the full
       satisfaction of the undersigned.

       (f)    The Shares for which the  undersigned  hereby  subscribes  will be
       acquired for the undersigned's  own account for investment,  and not with
       the view toward resale or  redistribution in a manner which would require
       registration  under the 1933 Act, and the  undersigned  does not now have
       any reason to anticipate any change in the undersigned's circumstances or
       other  particular  occasion or event which would cause the undersigned to
       sell his/her Shares.

       (g)    The  undersigned  represents  that it has been  called to  his/her
       attention,  that an  investment  in the Shares  involves a high degree of
       risk  which  may  result  in  the  loss  of  the  total   amount  of  the
       undersigned's investment.

       (h)    The  undersigned  is now a bona fide  individual  resident  of the
       state set forth  herein,  and the address and social  security  number or
       federal  tax  identification  number  set  forth  herein  is the true and
       correct   residence   and  social   security   number  or   federal   tax
       identification number of the undersigned.  The undersigned has no present
       intention of becoming a resident of any other state or jurisdiction.

       (i)    The undersigned  acknowledges  that the Company has made available
       to the undersigned or the undersigned's personal advisors the opportunity
       to  obtain   additional   information  to  verify  the  accuracy  of  the
       information  contained in the  disclosure  materials  and to evaluate the
       merits and risks of this investment,  including,  but not limited to, the
       income tax  consequences  of the investment.  The undersigned  represents
       that,  by  reason of  his/her  business  and  financial  experience,  the
       undersigned  has acquired the capacity to protect his/her own interest in
       investments  of  this  nature.   In  reaching  the  conclusion  that  the
       undersigned  desires to acquire the Shares, the undersigned has carefully

                                       7
<PAGE>

       evaluated  his/her  financial  resources and investment  position and the
       risks  associated with this investment,  and acknowledges  that he/she is
       able to bear the economic risks of this investment.

       (j)    The  Shares and  Warrants  have been  offered  to the  undersigned
       without any form of general solicitation or advertising of any type by or
       on behalf of the Company or any of its officers, directors,  employees or
       agents, or any other person.

       (k)    The undersigned  understands that neither the Securities  Exchange
       Commission  nor any  securities  administrator  of any state has made any
       finding or determination relating to the fairness of an investment in the
       Shares,  and that  neither the  Securities  Exchange  Commission  nor any
       securities  administrator  of any state has or will  recommend or endorse
       any offering of the Shares.

4.     Limitation   on  Transfer  of  Shares  and  Warrants.   The   undersigned
acknowledges that he/she is aware that there are substantial restrictions on the
transferability of the Shares and Warrants.  The Shares and Warrants will not be
registered  under the 1933 Act or  applicable  state  securities  laws,  and the
Shares and Warrants may not be, and the  undersigned  agrees that they shall not
be, sold, unless such sale is registered or exempt from such registration  under
the 1933 Act or state  securities  laws or  regulations.  The  undersigned  also
acknowledges that he/she shall be responsible for compliance with all conditions
on transfer  imposed by any  securities  administrator  of any state and for any
expenses incurred by the Company for legal or accounting  services in connection
with reviewing such a proposed  transfer and/or issuing an opinion in connection
therewith.  The Company agrees to include the listing of the Shares and Warrants
in the next SEC Registration  Statement filed by the Company, and intends to use
its best efforts to make the Registration Statement effective.

5.     Compliance with Securities  Laws. The undersigned  understands and agrees
that  the  following   restrictions   and  limitations  are  applicable  to  the
undersigned's  purchase and resale or other transfers of the Shares and Warrants
pursuant to the 1933 Act.

       (a)    The  undersigned  agrees that the Shares and Warrants shall not be
       sold  or  otherwise  transferred  unless  the  Shares  and  Warrants  are
       registered  under the 1933 Act and state  securities  laws, or are exempt
       therefrom.

       (b)    A legend in  substantially  the following form has been or will be
       placed on the certificate(s) or other document(s), if any, evidencing the
       Shares and Warrants:

       THE  SECURITIES  REPRESENTED BY THIS  CERTIFICATE  HAVE BEEN ACQUIRED FOR
       INVESTMENT AND HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933,
       AS  AMENDED,   OR  THE  SECURITIES  LAWS  OF  ANY  STATE.   WITHOUT  SUCH
       REGISTRATION,  SUCH SECURITIES MAY NOT BE SOLD OR OTHERWISE  TRANSFERRED,
       EXCEPT UPON DELIVERY TO THE COMPANY OF AN OPINION OF COUNSEL SATISFACTORY
       TO THE COMPANY THAT  REGISTRATION  IS NOT REQUIRED FOR SUCH TRANSFER,  OR
       SUCH OTHER EVIDENCE AS MAY BE  SATISFACTORY  TO THE COMPANY TO THE EFFECT
       THAT ANY SUCH TRANSFER SHALL NOT BE IN VIOLATION OF THE SECURITIES ACT OF
       1933, AS AMENDED,  OR APPLICABLE  STATE  SECURITIES  LAWS, OR ANY RULE OR
       REGULATION PROMULGATED THEREUNDER.

                                       8
<PAGE>

       (c)    Stop  transfer  instructions  have  been or will be  imposed  with
       respect to the  Shares and  Warrants  so as to  restrict  resale or other
       transfer  thereof,  subject to the further  items  hereof,  including the
       provisions of the legend set forth in subparagraph (b) above.

6.     Registration  Rights.  If at any time the Company  shall prepare and file
one or more  registration  statements  under  the Act with  respect  to a public
offering of equity or debt securities of the Company,  or of any such securities
of the Company held by its security holders, other than a registration statement
on Forms S-4,  S-8,  or  similar  form,  the  Company  will  include in any such
registration  statement  such  information  as is  required,  and such number of
shares of Common Stock held by the  undersigned  to permit a public  offering of
such shares of Common  Stock as  required;  provided,  however,  that if, in the
written  opinion  of the  Company's  managing  underwriter,  if  any,  for  such
offering, the inclusion of the shares requested to be registered,  when added to
the  securities  being  registered  by  the  Company  or  the  selling  security
holder(s),  would exceed the maximum amount of the Company's securities that can
be marketed  without  otherwise  materially  and adversely  affecting the entire
offering,  then the Company may exclude from such  offering  that portion of the
shares required to be so registered so that the total number of securities to be
registered  is within the maximum  number of shares that,  in the opinion of the
managing underwriter, may be marketed without otherwise materially and adversely
affecting the entire offering.  The Company shall use its best efforts to obtain
promptly  the  effectiveness  of such  registration  statement  and maintain the
effectiveness  thereof  for at least 180 days and to  register  or  qualify  the
subject  shares of Common Stock  underlying  this Warrant for sale in up to five
(5) states  identified by the  undersigned.  The Company shall bear all fees and
expenses other than the fees and expenses of the undersigned's  counsel incurred
in the preparation and filing of such  registration  statement and related state
registrations,  to the extent permitted by applicable law, and the furnishing of
copies of the preliminary and final prospectus thereof to the undersigned.

IN WITNESS  WHEREOF,  subject to acceptance by the Company,  the undersigned has
completed this Subscription  Agreement to evidence his/her  subscription for the
Shares and Warrants set forth below:

Number of Shares (at $0.24 per Share):  1,458,333
Number of Stock Purchase Warrants (at $0.24 per Share):  1,458,333

Total subscription amount:   $350,000

Shares and Warrants to be registered as follows:     Bonanza Master Fund, Ltd.
                                                     ---------------------------
                                                             (Owner Name)

300 Crescent Court, Suite 1740                       /s/ Bernay Box
-------------------------------------                ---------------------------
Address                                              Signature

Dallas, Texas 75201                                  Bernay Box
-------------------------------------                ---------------------------
                                                     Name(s) typed or printed
98-0371835
-------------------------------------
Tax I.D. or Social Security Number

                                       9
<PAGE>

.................................................................................

Subscription Accepted:

                                            RUSH FINANCIAL TECHNOLOGIES, INC.

 March 30, 2005                             By:  /s/ D. M. Moore, Jr.
-----------------------                        ---------------------------------
Date                                             D.M. Moore, Jr., President

                                       10

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