Document:

ADDENDUM
      TO STOCK PURCHASE AGREEMENT

     

    This
      ADDENDUM TO STOCK PURCHASE AGREEMENT (this “Addendum”)
      is
      dated as of August 29, 2007, by and among Appalachian Oil Company, Inc., a
      Tennessee corporation (the “Company”),
      the
      undersigned stockholders of the Company (collectively, the “Sellers”),
      and
      Titan Global Holdings, Inc., a Utah corporation (the “Buyer”).

     

    WITNESSETH:

     

    WHEREAS,
      the Buyer, the Company and the Sellers made and entered into a Stock Purchase
      Agreement dated July 17, 2007 (the “Agreement”),
      pursuant to which Buyer has agreed to purchase, and Sellers have agreed to
      sell,
      all of the issued and outstanding capital stock of the Company, on the terms
      and
      conditions set forth in the Agreement; and

     

    WHEREAS,
      the Buyer, the Company and the Sellers have entered into Addenda to the
      Agreement on July 17, 2007 and on July 24, 2007; 

     

    WHEREAS,
      the parties wish to further amend the Agreement as set forth below.

     

    NOW,
      THEREFORE, for and in consideration of the foregoing recitals, and other good
      and valuable consideration, the receipt and legal sufficiency of which are
      hereby acknowledged, the parties agree as follows:

     

    1. Section
      2.3 of the Agreement, as amended, is hereby amended by deleting from
      clause (a) thereof “September 4, 2007” and inserting in its place
“September 12, 2007.”

     

    2. As
      amended hereby, the Agreement shall remain in full force and
      effect.

     

    [Signatures
      are on the next page.]

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    IN
      WITNESS WHEREOF, this Addendum has been executed as of the date first above
      written.

     

    
      	 	 	 
	 	BUYER:
	 	 
	 	TITAN GLOBAL HOLDINGS,
              INC.
	 
 	 
 	 
 
	
            	By:  	/s/ Bryan
              M. Chance 
	 	
              
Name:
              Bryan M. Chance 
	 	Title:
              President and Chief Executive Officer 

    

     

    
      	 	 	 
	 	THE COMPANY:
	 	 
	 	APPALACHIAN OIL COMPANY,
              INC.
	 
 	 
 	 
 
	
            	By:  	/s/ Jeffrey
              H. Benedict 
	 	
              
Name:
              Jeffrey H. Benedict 
	 	Title:
              President 

    

     

    
      	 	 	 
	 	SELLERS:
	 	 
	 	
            
	
            	
            	/s/Jeffrey
              H.
              Benedict 
	 	
              
JEFFREY
              H.
              BENEDICT

    

     

    
      	 	 	 
	
            	
            	/s/ Sara G. MacLean 
	 	
              
                

              

              SARA G. MACLEAN

              (by
                Jeffrey H. Benedict under Power of Attorney 

              dated
                7-11-07)

            

    

     

    
      	 	 	 
	 	
              THE LINDA R. MACLEAN

              IRREVOCABLE TRUST

            
	 	 	 
	
            	
            	
            
	 	By:  	 /s/ Sara G. MacLean 
	 	
              
                

              

              Sara G. MacLean, Trustee

              (by
                Jeffrey H. Benedict under Power of Attorney 

              dated
                7-11-07)

            

    

     

    
      	 	 	 
	 	
              THE JAMES R. MACLEAN

              REVOCABLE TRUST OF
                2005

            
	
            	
            	
            
	 	 	 
	 	By:  	/s/
              James R. MacLean
	 	
              
                

              
James R. MacLean,
              TrusteeTHIRD
      ADDENDUM TO STOCK PURCHASE AGREEMENT

     

    This
      THIRD ADDENDUM TO STOCK PURCHASE AGREEMENT
      (this
“Addendum”)
      is
      dated as of September 14, 2007, by and among Appalachian Oil Company, Inc.,
      a Tennessee corporation (the “Company”),
      the
      undersigned stockholders of the Company (collectively referred to herein as
      “Sellers”
and
      each individually as a “Seller”),
      and Titan
      Global Holdings, Inc., a Utah corporation
      (“Buyer”).

     

    RECITALS:

     

    WHEREAS,
      the parties have entered into a Stock Purchase Agreement dated July 17, 2007
      (the “Stock
      Purchase Agreement”),
      pursuant to which Buyer agreed to purchase all of the issued and outstanding
      capital stock of the Company, for the total consideration of thirty million
      dollars ($30,000,000.00) (the “Purchase Price”) and on the terms and conditions
      set forth in the Agreement; and

     

    WHEREAS,
      there has been a credit against the Purchase Price in the sum of one million
      dollars ($1,000,000.00) as a result of certain non-refundable earnest money
      deposits (the “Earnest Money”) already paid to Sellers in connection with the
      Stock Purchase Agreement; and

     

    WHEREAS,
      the Company owns certain marketable securities in the amounts and accounts
      (the
“Securities”) as set forth on Schedule
      A
      attached
      hereto, and Buyer wishes to liquidate the Securities and/or distribute some
      or
      all of the Securities to Sellers following the Closing of the Stock Purchase
      Agreement, with the proceeds from such sales and/or distributions to be paid
      to
      Sellers by Buyer as consideration for Sellers’ Company stock; and

     

    WHEREAS,
      the parties desire to amend the Stock Purchase Agreement as set forth
      below.

     

    NOW,
      THEREFORE, for and in consideration of the foregoing recitals, and other good
      and valuable consideration, the receipt and legal sufficiency of which are
      hereby acknowledged, the parties agree as follows: 

     

    ARTICLE
      I

     

    1.1 At
      the
      Closing of the Stock Purchase Agreement, the Buyer shall pay to the Sellers
      the
      total sum of Twenty Six Million, One Hundred Eighty One Thousand, Nine Hundred
      and Five Dollars ($26,181,905.00) via wire transfer, which amount reflects
      a
      credit for Sellers’ receipt of the Earnest Money, as well as an additional
      credit against the Purchase Price in the amount of Two Million, Nine Hundred
      Eighteen Thousand and Ninety Five Dollars ($2,918,095.00), or the Agreed Value
      of the Securities (as defined below) less One Hundred Thousand Dollars
      ($100,000.00).

     

    1.2 The
      parties agree that the Securities have a current market value of approximately
      Two Million, Nine Hundred Eighteen Thousand and Ninety Five Dollars
      ($2,918,095.00) (the “Agreed Value”).

     

    
      
        
        

      

      
        -1-

        
          

        

      

      
        
        

      

    

     

    1.3 Immediately
      following the Closing of the Stock Purchase Agreement, Buyer and the Company
      shall take all actions necessary for the sale of the Securities, with the
      proceeds from such sale to be paid to the Sellers by the Escrow Agent (as
      defined below), on behalf of the Buyer, as consideration from the Buyer to
      the
      Sellers for the purchase of the Company stock, as set forth below. Provided,
      however, that at the request of the Sellers, the parties agree that some or
      all
      of the Securities may be distributed in kind to the Sellers by the Escrow Agent,
      in the sole discretion of the Sellers, subject only to the agreement of Buyer,
      the Company and Sellers with respect to the value of such Securities upon
      distribution to the Sellers. 

     

    1.4 To
      effect
      the sale (and/or distribution in kind, as applicable) of the Securities
      contemplated by Section 1.3, at the Closing of the Stock Purchase Agreement,
      the
      Securities shall be placed into an escrow account with Aldebaran Financial,
      Inc.
      as escrow agent (the “Escrow Agent”), pursuant to an Escrow Agreement to be
      agreed upon by the parties (the “Escrow Agreement”). The Securities shall be
      sold by the Escrow Agent (and/or distributed in kind to Sellers) pursuant to
      the
      joint instructions of the Buyer, Sellers and the Company, as set forth in the
      Escrow Agreement, with the sale of the Securities to be completed no later
      than
      ten (10) business days following the Closing of the Stock Purchase Agreement.
      Upon the Escrow Agent’s sale of any of the Securities, the proceeds from such
      sales shall be distributed to the Sellers via wire transfer, pursuant to
      Sellers’ instructions, subject to the adjustments contemplated under Section 1.5
      below. If the Escrow Agent distributes any of the Securities in kind to the
      Sellers, then said Securities shall be delivered to the Sellers’ pursuant to
      Sellers’ written instructions. It is the parties’ intention that the sale
      (and/or distribution in kind, as applicable) of the Securities shall be executed
      expeditiously, but in such a manner as to maximize the value of the Securities
      to the mutual benefit of the parties.

     

    1.5 In
      the
      event that the total proceeds of the sale (and/or distribution, as applicable)
      of the Securities are less than Two Million, Eight Hundred Eighteen Thousand
      and
      Ninety Five Dollars ($2,818,095.00), then the Buyer and the Company, jointly
      and
      severally, shall promptly, but in no event later than ten (10) days thereafter,
      pay to the Sellers the shortfall, that is, the amount by which the sale proceeds
      are less than $2,818,095. On the other hand, in the event that the proceeds
      of
      the sale (and/or distribution, as applicable) of the Securities are greater
      than
      Two Million, Eight Hundred Eighteen Thousand and Ninety Five Dollars
      ($2,818,095.00), then the Sellers, jointly and severally, shall promptly, but
      in
      no event later than ten (10) days, pay to the Company the excess, that is,
      the
      amount by which the sale proceeds are greater than $2,818,095.00. 

     

    1.6 It
      is the
      intention of the parties that the sale and/or distribution of the Securities
      shall be completely “tax neutral” to the Sellers, and that any tax losses or
      gains from the sale and/or distribution of the Securities shall be for the
      account of the Company. For this reason, the Securities shall continue to be
      held under the Federal Employer Identification number of the Company, unless
      they are distributed to Sellers, whereupon the Buyer and Company agree to take
      all steps reasonably necessary to facilitate the transfer and delivery of the
      Securities to the Sellers. It is also the intention of the parties that the
      sale
      and/or distribution of the Securities shall be deemed part of the aggregate
      Purchase Price, paid by Buyer to Sellers as consideration for Sellers’ Company
      stock. If for any reason any taxes should be imposed on Sellers as a result
      of
      the sale of the Securities, or as a result of Sellers’ receipt of Securities in
      kind from Buyer or the Company, then the Company and Buyer jointly and severally
      agree to indemnify Sellers for any such taxes. The Company and Buyer shall
      also
      be responsible for all fees, commissions and other expenses associated with
      the
      Escrow Agent’s sale and/or distribution of the Securities. 

     

    
      
        
        

      

      
        -2-

        
          

        

      

      
        
        

      

    

     

    ARTICLE
      II

     

    2.1 Section
      2.3 of the Stock Purchase Agreement, as amended, is hereby amended by deleting
      from clause (a) thereof “September 12, 2007” and inserting in its place
“September 14, 2007.” 

     

    ARTICLE
      III

     

    3.1 The
      Buyer
      hereby waives the condition precedent set forth in Section 8.3 of the Stock
      Purchase Agreement to the extent that the consents of Yum Brands, Citgo and
      Western Union are not obtained prior to the Closing Date. Further, the Buyer
      hereby waives the conditions precedent set forth in Sections 8.5 and 8.14 of
      the
      Stock Purchase Agreement.

     

    ARTICLE
      IV

     

    4.1 This
      Addendum shall be construed in accordance with the terms and conditions set
      forth in the Stock Purchase Agreement, and any capitalized terms set forth
      in
      this Addendum that are not defined herein shall have the meaning set forth
      in
      the Stock Purchase Agreement. As amended hereby, the Stock Purchase Agreement
      shall remain in full force and effect.

     

    4.2 This
      Addendum shall be governed by, and construed in accordance with, the laws of
      the
      State of Tennessee applicable to agreements made and to be performed
      therein.

     

    4.3 Any
      action or proceeding seeking to enforce any provision of, or based on any right
      arising out of, this Addendum may be brought against any of the parties in
      the
      courts of (a) the State of Tennessee, County of Sullivan, or, if it has or
      can acquire jurisdiction, in the United States District Court for the Eastern
      District of Tennessee. The parties hereby consent to the jurisdiction of such
      courts (and of the appropriate appellate courts) in any such action or
      proceeding and waive any objection to venue laid therein. Process in any action
      or proceeding referred to in the preceding sentence may be served on any party
      anywhere in the world.

     

    4.4 This
      Addendum and all of the provisions hereof shall be binding upon and inure to
      the
      benefit of the parties hereto and their respective heirs, executors, personal
      representatives, assigns, and successors to the business and assets of such
      parties.

     

    4.5 Each
      of
      the parties hereto shall hereafter, at the reasonable request of the other
      party
      hereto, execute and deliver such further documents and agreements, and do such
      further acts and things as may be necessary or expedient to carry out the
      provisions of this Addendum.

     

    
      
        
        

      

      
        -3-

        
          

        

      

      
        
        

      

    

     

    4.6 This
      Addendum constitutes a complete statement of all of the arrangements between
      the
      parties with respect to the transactions contemplated by this Addendum, and
      supersedes all prior agreements and understandings with respect to such
      transactions between them, except for the Stock Purchase Agreement and the
      amendments thereto. This Addendum shall not be amended or terminated except
      by
      an instrument in writing signed by the parties hereto.

     

    4.7
      This
      Addendum may be executed in two or more counterparts, each of which shall be
      deemed an original, but all of which together shall constitute one and the
      same
      instrument.

     

    [REMAINDER
      OF PAGE INTENTIONALLY LEFT BLANK]

     

    
      
        
        

      

      
        -4-

        
          

        

      

       

    

    IN
      WITNESS WHEREOF, the parties have executed and delivered this Addendum as of
      the
      date first written above.

     

    COMPANY:

     

    
      	
              APPALACHIAN
                OIL COMPANY, INC. 

               

               

              By:
                /s/Jeffrey
                H. Benedict 

              
                

              

              Name:
                Jeffrey H. Benedict 

              Title:
                President

            	 
	
               

              SELLERS:

               

            	
               

              BUYER:

            
	
              THE
                JAMES R. MACLEAN REVOCABLE TRUST

               

               

              By:
                /s/James
                R. MacLean

              
                

              

              Name:
                James R. MacLean

              Title:
                Trustee

            	
              TITAN
                GLOBAL HOLDINGS, INC.

               

               

              By:
                /s/
                Bryan M. Chance

              
                

              

              Name:
                Bryan M. Chance 

              Title:
                President and Chief Executive Officer 

               

            
	
               

              /s/
                Sara G. MacLean

              
                

              

              SARA
                G. MACLEAN

              by
                Jeffrey H. Benedict under Power of Attorney

              dated
                7-11-07)

            	
               

               

               

            
	
               

               

              /s/Jeffrey
                H. Benedict

              
                

              

              JEFFREY
                H. BENEDICT

               

               

              THE
                LINDA R. MACLEAN IRREVOCABLE TRUST

               

               

              By:
                /s/
                Sara G. MacLean

              
                

              

              Name:
                Sara G. MacLean

              Title:
                Trustee

              (by
                Jeffrey H. Benedict under Power of Attorney

              dated
                7-11-07)

            	
               

            

    

     

    
      
        
        

      

      
        -5-

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