Document:

Filed by Automated Filing Services Inc. (604) 609-0244 - Novori Inc. - Exhibit 10.5

Shareholder Agreement 

This Shareholder Agreement, dated as of June 20, 2007 (this
"Agreement"), is among Novori Inc., a Delaware corporation (the "Company"), and
Harold Schaffrick (the "Stockholder"), a director, President and Chief Executive
Officer of the Company. 

RECITALS: 

	A. 	
      The Company has requested that the Stockholder agree to
      convert 9,500,000 shares of common stock of the Company that the
      Stockholder owns (the "Shares") into shares of Series A Convertible
      Preferred Stock (the “Series A Preferred Stock”) of the Company pursuant
      to the terms and conditions hereof.

NOW, THEREFORE, the parties hereto agree as follows:

I.          
REPRESENTATIONS AND WARRANTIES OF THE STOCKHOLDER 

The Stockholder hereby represents and warrants to the Company
as follows: 

1.1        
Due Authority. The Stockholder has full power and authority to execute
and deliver this Agreement and to perform his obligations hereunder and
consummate the transactions contemplated hereby. This Agreement has been duly
executed and delivered by or on behalf of the Stockholder and, assuming his due
authorization, execution and delivery by the Company, constitutes a legal, valid
and binding obligation of the Stockholder, enforceable against it in accordance
with its terms. 

1.2        
No Conflict; Consents. 

(a) The execution and delivery of this
Agreement by the Stockholder does not, and the performance by the Stockholder of
his obligations under this Agreement and the compliance by the Stockholder with
the provisions hereof do not and will not, conflict with or violate any law,
statute, rule, regulation, order, writ, judgment or decree applicable to the
Stockholder or the Shares. 

(b) The execution and delivery of this
Agreement by the Stockholder does not, and the performance of this Agreement by
the Stockholder will not, require any consent, approval, authorization or permit
of, or filing with (except for applicable requirements, if any, of the
Securities Exchange Act of 1934, as amended (the "Exchange Act")), or
notification to, any government or regulatory authority by the Stockholder. 

(c) Only the Stockholder has, and
during the Conversion Term will have, any right, directly or indirectly, to
convert or control the conversion of the Shares. 

(d) The Stockholder is the record owner
of the Shares free and clear, to the Stockholder’s knowledge, of any proxy or
voting restriction other than pursuant to any Proxy Agreement between the
Company and the Shareholder. 

Novori Inc. – Shareholder Agreement – HS 
Page 1 of 5 

II.         
REPRESENTATIONS AND WARRANTIES OF THE COMPANY 

The Company hereby represents and warrants to the Stockholder
as follows: 

2.1        
Due Authority. The Company has full power, corporate or
otherwise, and authority to execute and deliver this Agreement and to perform
its obligations hereunder. This Agreement has been duly executed and delivered
by or on behalf of the Company and, assuming its due authorization, execution
and delivery by the Stockholder, constitutes a legal, valid and binding
obligation of the Company enforceable against it in accordance with its terms.

2.2        
No Conflict; Consents.

(a) The execution and delivery of this
Agreement does not, and the performance by the Company of its obligations
contemplated by this Agreement and its compliance with any provisions hereof do
not and will not, (i) conflict with or violate any law, statute, rule,
regulation, order, writ, judgment or decree applicable to such party, (ii)
conflict with or violate the Company's charter or bylaws, or (iii) result in any
breach of or constitute a default (or an event that with notice or lapse of time
or both would become a default) under, or give to others any rights of
termination, amendment, acceleration or cancellation of, any note, bond,
mortgage, indenture, contract, agreement, lease, license, permit, franchise or
other instrument or obligation to which the Company is a party or by which the
Company is bound. 

(b) The execution and delivery of this
Agreement by the Company does not, and the performance of this Agreement by the
Company will not, require any consent, approval, authorization or permit of, or
filing with (except for applicable requirements, if any, of the Exchange Act) or
notification to, any governmental or regulatory authority by the Company. 

III.         CERTAIN
COVENANTS OF THE STOCKHOLDER 

The Stockholder hereby covenants and agrees with the Company as
follows: 

3.1        
Right to Convert. The Stockholder acknowledges and affirms that
the execution of this Agreement by the Company will result in the right of the
Stockholder, pursuant to the terms of Section 3.2 of the Agreement, to convert
the Shares into the Series A Preferred Stock. 

3.2        
Conversion of Shares. Upon execution of this Agreement, the Stockholder
shall, exercise his right to convert 9,500,000 shares of common stock into an
aggregate of 9,500,000 shares of Series A Preferred Stock on a 1 for 1 basis in
accordance with Section 3.3 hereof. In connection therewith, the Company agrees
to provide a written notice to the Stockholder of the Record Date within 48
hours after it has been fixed by the Company. 

3.3        
Procedure for Conversion. In order to convert the Shares into Series A
Preferred Stock, the Stockholder shall surrender the applicable certificate or
certificates, duly endorsed, at the office of the Company or transfer agent for
the Shares.

Novori Inc. – Shareholder Agreement – HS 
Page 2 of 5 

Thereupon, the Company shall promptly issue and deliver to the
Shareholder a certificate or certificates for the number of shares of Series A
Preferred Stock to which the Shareholder is entitled. The Shareholder entitled
to receive the shares of Series A Preferred Stock issuable upon the conversion
shall be treated for all purposes as the record holder of such shares of Series
A Preferred Stock on such date. 

3.4        
Transfer of Shares.

(a) Except pursuant to the Proxy
Agreement, prior to the conversion of the Shares the Stockholder shall not, and
shall not permit anyone else to, (i) sell, tender, encumber, pledge, assign or
otherwise dispose of any of the Shares, (ii) deposit the Shares into a voting
trust or enter into a voting agreement or arrangement with respect to the Shares
or grant any proxy or power of attorney with respect thereto, or (iii) enter
into any contract, option or other legally binding undertaking providing for any
transaction listed in (i) or (ii) of this Section 3.4, unless prior thereto the
proposed transferee or pledgee shall have entered into a written agreement with
the Company, containing terms and conditions satisfactory to the Company, in
which such transferee or pledgee shall agree to be bound by all the terms and
conditions of this Agreement. 

(b) The Stockholder agrees to take such
further action and execute such other instruments as may be reasonably necessary
to effectuate the intent of this Agreement. 

3.5        
Legend. The Company agrees it will use commercially reasonable
efforts to, and will instruct the custodian of the Series A Preferred Stock to,
tender to the Shareholder, within 10 days after the date hereof, the
certificates representing the Series A Preferred Stock and the Company will
inscribe upon such certificates the following legend: "The shares of Series A
Convertible Preferred Stock of Novori Inc. (the "Company") represented by this
certificate are subject to certain rights, privileges, restrictions and
conditions, and the Company shall furnish on demand and without charge, a full
copy of the text of the rights, privileges, restrictions and conditions attached
to each class of shares authorized to be issued and to each series in so far as
the same have been fixed by the directors, and the authority of the directors to
fix the rights, privileges, restrictions and conditions of subsequent series."

IV.         
CONSIDERATION 

The Company shall not pay any consideration to the Stockholder
at the time of the conversion of Shares required to be converted pursuant to
this Agreement hereof.

Novori Inc. – Shareholder Agreement – HS 
Page 3 of 5 

V.          
MISCELLANEOUS; GENERAL PROVISIONS 

5.1        
Severability. If any term or other provision of this Agreement is
determined to be invalid, illegal or incapable of being enforced by any rule of
law or public policy, all other conditions and provisions of this Agreement will
nevertheless remain in full force and effect. Upon such determination that any
term or other provision is invalid, illegal or incapable of being enforced, the
parties hereto will negotiate in good faith to modify this Agreement so as to
effect the original intent of the parties as closely as possible to the fullest
extent permitted by applicable law in an acceptable manner to the end that the
transactions contemplated hereby are fulfilled to the extent possible. 

5.2        
Entire Agreement. This Agreement constitutes the entire
agreement of the parties and supersedes all prior agreements and undertakings,
both written and oral, between the parties with respect to the subject matter
hereof. 

5.3        
Amendments. This Agreement may not be modified, amended, waived,
altered or supplemented, except upon the execution and delivery of a written
agreement executed by the parties hereto. 

5.4        
Assignment. This Agreement may not be assigned by either party
hereto by operation of law or otherwise without the other party's consent and is
binding on each party's successors and permitted assignees. 

5.5        
Parties in Interest. This Agreement is binding upon, and shall
inure solely to the benefit of, each party hereto and nothing in this Agreement,
express or implied, is intended to or will confer upon any other person any
right, benefit or remedy of any nature whatsoever under or by reason of this
Agreement. 

5.6        
Specific Performance. The parties hereto agree that irreparable
damage would occur in the event any provision of this Agreement was not
performed in accordance with the terms hereof or was otherwise breached. It is
accordingly agreed that the parties will be entitled to specific relief
hereunder including, without limitation, an injunction or injunctions to prevent
and enjoin breaches of the provisions of this Agreement and to enforce
specifically the terms and provisions hereof, in any state or federal court in
the State of Delaware, in addition to any other remedy to which they may be
entitled at law or in equity. Any requirements for the securing or posting of
any bond with respect to any such remedy are hereby waived. 

5.7        
Governing Law; Jurisdiction and Venue. This Agreement shall be governed
by, and construed in accordance with, the internal laws of the State of Delaware
without regard to its rules of conflict of laws. The parties hereto hereby
irrevocably and unconditionally consent to and submit to the exclusive
jurisdiction of the federal and state Delaware courts for any litigation arising
out of or relating to this Agreement and the transactions contemplated hereby
(and agree not to commence any litigation relating thereto except in such
courts), waive any objection to the laying of venue of any such litigation in
such Delaware courts and agree not to plead or claim in any such Delaware court
that such litigation brought therein has been brought in any inconvenient forum.

Novori Inc. – Shareholder Agreement – HS 
Page 4 of 5 

5.8        
Counterparts. This Agreement may be executed in one or more counterparts,
and by the different parties hereto in separate counterparts, each of which when
executed will be deemed to be an original but all of which taken together will
constitute one and the same agreement. 

IN WITNESS WHEREOF, the parties have duly executed this
Agreement as of the date first written above. 

Novori Inc. 

By: 

/s/ Mark Neild 
___________________________
Mark Neild

Chief Financial Officer 

 

Stockholder: 

/s/ Harold Schaffrick 
___________________________
Harold
Schaffrick 
Stockholder 

Novori Inc. – Shareholder Agreement – HS 
Page 5 of 5Filed by Automated Filing Services Inc. (604) 609-0244 - Novori Inc. - Exhibit 10.6

Shareholder Agreement 

This Shareholder Agreement, dated as of June 20, 2007 (this
"Agreement"), is among Novori Inc., a Delaware corporation (the "Company"), and
Mark Neild (the "Stockholder"), a director and Chief Financial Officer of the
Company. 

RECITALS: 

	A. 	
      The Company has requested that the Stockholder agree to
      convert 9,500,000 shares of common stock of the Company that the
      Stockholder owns (the "Shares") into shares of Series A Convertible
      Preferred Stock (the “Series A Preferred Stock”) of the Company pursuant
      to the terms and conditions hereof.

NOW, THEREFORE, the parties hereto agree as follows:

I.          
REPRESENTATIONS AND WARRANTIES OF THE STOCKHOLDER 

The Stockholder hereby represents and warrants to the Company
as follows: 

1.1        Due
Authority. The Stockholder has full power and authority to execute and
deliver this Agreement and to perform his obligations hereunder and consummate
the transactions contemplated hereby. This Agreement has been duly executed and
delivered by or on behalf of the Stockholder and, assuming his due
authorization, execution and delivery by the Company, constitutes a legal, valid
and binding obligation of the Stockholder, enforceable against it in accordance
with its terms. 

1.2        No Conflict;
Consents. 

(a) The execution and delivery of this
Agreement by the Stockholder does not, and the performance by the Stockholder of
his obligations under this Agreement and the compliance by the Stockholder with
the provisions hereof do not and will not, conflict with or violate any law,
statute, rule, regulation, order, writ, judgment or decree applicable to the
Stockholder or the Shares. 

(b) The execution and delivery of this
Agreement by the Stockholder does not, and the performance of this Agreement by
the Stockholder will not, require any consent, approval, authorization or permit
of, or filing with (except for applicable requirements, if any, of the
Securities Exchange Act of 1934, as amended (the "Exchange Act")), or
notification to, any government or regulatory authority by the Stockholder. 

(c) Only the Stockholder has, and
during the Conversion Term will have, any right, directly or indirectly, to
convert or control the conversion of the Shares. 

(d) The Stockholder is the record owner
of the Shares free and clear, to the Stockholder’s knowledge, of any proxy or
voting restriction other than pursuant to any Proxy Agreement between the
Company and the Shareholder. 

Novori Inc. – Shareholder Agreement – MN – Page 1 

II.         
REPRESENTATIONS AND WARRANTIES OF THE COMPANY 

The Company hereby represents and warrants to the Stockholder
as follows: 

2.1        Due
Authority. The Company has full power, corporate or otherwise, and authority
to execute and deliver this Agreement and to perform its obligations hereunder.
This Agreement has been duly executed and delivered by or on behalf of the
Company and, assuming its due authorization, execution and delivery by the
Stockholder, constitutes a legal, valid and binding obligation of the Company
enforceable against it in accordance with its terms. 

2.2        No Conflict;
Consents.

(a) The execution and delivery of this
Agreement does not, and the performance by the Company of its obligations
contemplated by this Agreement and its compliance with any provisions hereof do
not and will not, (i) conflict with or violate any law, statute, rule,
regulation, order, writ, judgment or decree applicable to such party, (ii)
conflict with or violate the Company's charter or bylaws, or (iii) result in any
breach of or constitute a default (or an event that with notice or lapse of time
or both would become a default) under, or give to others any rights of
termination, amendment, acceleration or cancellation of, any note, bond,
mortgage, indenture, contract, agreement, lease, license, permit, franchise or
other instrument or obligation to which the Company is a party or by which the
Company is bound. 

(b) The execution and delivery of this
Agreement by the Company does not, and the performance of this Agreement by the
Company will not, require any consent, approval, authorization or permit of, or
filing with (except for applicable requirements, if any, of the Exchange Act) or
notification to, any governmental or regulatory authority by the Company. 

III.       
CERTAIN COVENANTS OF THE STOCKHOLDER 

The Stockholder hereby covenants and agrees with the Company as
follows: 

3.1        Right to
Convert. The Stockholder acknowledges and affirms that the execution of this
Agreement by the Company will result in the right of the Stockholder, pursuant
to the terms of Section 3.2 of the Agreement, to convert the Shares into the
Series A Preferred Stock. 

3.2        Conversion of
Shares. Upon execution of this Agreement, the Stockholder shall, exercise
his right to convert 9,500,000 shares of common stock into an aggregate of
9,500,000 shares of Series A Preferred Stock on a 1 for 1 basis in accordance
with Section 3.3 hereof. In connection therewith, the Company agrees to provide
a written notice to the Stockholder of the Record Date within 48 hours after it
has been fixed by the Company. 

3.3        Procedure for
Conversion. In order to convert the Shares into Series A Preferred Stock,
the Stockholder shall surrender the applicable certificate or certificates, duly
endorsed, at the office of the Company or transfer agent for the Shares.

Novori Inc. – Shareholder Agreement – MN – Page 2 

Thereupon, the Company shall promptly issue and deliver to the
Shareholder a certificate or certificates for the number of shares of Series A
Preferred Stock to which the Shareholder is entitled. The Shareholder entitled
to receive the shares of Series A Preferred Stock issuable upon the conversion
shall be treated for all purposes as the record holder of such shares of Series
A Preferred Stock on such date. 

3.4        Transfer of
Shares.

(a) Except pursuant to the Proxy
Agreement, prior to the conversion of the Shares the Stockholder shall not, and
shall not permit anyone else to, (i) sell, tender, encumber, pledge, assign or
otherwise dispose of any of the Shares, (ii) deposit the Shares into a voting
trust or enter into a voting agreement or arrangement with respect to the Shares
or grant any proxy or power of attorney with respect thereto, or (iii) enter
into any contract, option or other legally binding undertaking providing for any
transaction listed in (i) or (ii) of this Section 3.4, unless prior thereto the
proposed transferee or pledgee shall have entered into a written agreement with
the Company, containing terms and conditions satisfactory to the Company, in
which such transferee or pledgee shall agree to be bound by all the terms and
conditions of this Agreement. 

(b) The Stockholder agrees to take such
further action and execute such other instruments as may be reasonably necessary
to effectuate the intent of this Agreement. 

3.5        Legend.
The Company agrees it will use commercially reasonable efforts to, and will
instruct the custodian of the Series A Preferred Stock to, tender to the
Shareholder, within 10 days after the date hereof, the certificates representing
the Series A Preferred Stock and the Company will inscribe upon such
certificates the following legend: "The shares of Series A Convertible Preferred
Stock of Novori Inc. (the "Company") represented by this certificate are subject
to certain rights, privileges, restrictions and conditions, and the Company
shall furnish on demand and without charge, a full copy of the text of the
rights, privileges, restrictions and conditions attached to each class of shares
authorized to be issued and to each series in so far as the same have been fixed
by the directors, and the authority of the directors to fix the rights,
privileges, restrictions and conditions of subsequent series." 

IV.        
CONSIDERATION 

The Company shall not pay any consideration to the Stockholder
at the time of the conversion of Shares required to be converted pursuant to
this Agreement hereof.

Novori Inc. – Shareholder Agreement – MN – Page 3 

V.         
MISCELLANEOUS; GENERAL PROVISIONS 

5.1       
Severability. If any term or other provision of this Agreement is
determined to be invalid, illegal or incapable of being enforced by any rule of
law or public policy, all other conditions and provisions of this Agreement will
nevertheless remain in full force and effect. Upon such determination that any
term or other provision is invalid, illegal or incapable of being enforced, the
parties hereto will negotiate in good faith to modify this Agreement so as to
effect the original intent of the parties as closely as possible to the fullest
extent permitted by applicable law in an acceptable manner to the end that the
transactions contemplated hereby are fulfilled to the extent possible. 

5.2        Entire
Agreement. This Agreement constitutes the entire agreement of the parties
and supersedes all prior agreements and undertakings, both written and oral,
between the parties with respect to the subject matter hereof. 

5.3       
Amendments. This Agreement may not be modified, amended, waived, altered
or supplemented, except upon the execution and delivery of a written agreement
executed by the parties hereto. 

5.4       
Assignment. This Agreement may not be assigned by either party hereto by
operation of law or otherwise without the other party's consent and is binding
on each party's successors and permitted assignees. 

5.5        Parties in
Interest. This Agreement is binding upon, and shall inure solely to the
benefit of, each party hereto and nothing in this Agreement, express or implied,
is intended to or will confer upon any other person any right, benefit or remedy
of any nature whatsoever under or by reason of this Agreement. 

5.6        Specific
Performance. The parties hereto agree that irreparable damage would occur in
the event any provision of this Agreement was not performed in accordance with
the terms hereof or was otherwise breached. It is accordingly agreed that the
parties will be entitled to specific relief hereunder including, without
limitation, an injunction or injunctions to prevent and enjoin breaches of the
provisions of this Agreement and to enforce specifically the terms and
provisions hereof, in any state or federal court in the State of Delaware, in
addition to any other remedy to which they may be entitled at law or in equity.
Any requirements for the securing or posting of any bond with respect to any
such remedy are hereby waived. 

5.7        Governing Law;
Jurisdiction and Venue. This Agreement shall be governed by, and construed
in accordance with, the internal laws of the State of Delaware without regard to
its rules of conflict of laws. The parties hereto hereby irrevocably and
unconditionally consent to and submit to the exclusive jurisdiction of the
federal and state Delaware courts for any litigation arising out of or relating
to this Agreement and the transactions contemplated hereby (and agree not to
commence any litigation relating thereto except in such courts), waive any
objection to the laying of venue of any such litigation in such Delaware courts
and agree not to plead or claim in any such Delaware court that such litigation
brought therein has been brought in any inconvenient forum. 

Novori Inc. – Shareholder Agreement – MN – Page 4 

5.8       
Counterparts. This Agreement may be executed in one or more counterparts,
and by the different parties hereto in separate counterparts, each of which when
executed will be deemed to be an original but all of which taken together will
constitute one and the same agreement. 

IN WITNESS WHEREOF, the parties have duly executed this
Agreement as of the date first written above. 

Novori Inc. 

By: 

/s/ Harold Schaffrick 
___________________________
Harold
Schaffrick 
President and Chief Executive Officer 

 

Stockholder: 

/s/ Mark Neild 
___________________________
Mark Neild

Stockholder 

Novori Inc. – Shareholder Agreement – MN – Page 5

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00129-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00129-of-00352.parquet"}]]