SEC Contract Filing

Filing Date: 2017-09-21

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>3
<FILENAME>v475459_ex10-1.htm
<DESCRIPTION>EXHIBIT 10.1
<TEXT>
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<P STYLE="margin: 0; text-align: right"><B>Exhibit 10.1</B></P>

<P STYLE="margin: 0; text-align: right"><B>&nbsp;</B></P>

<P STYLE="margin: 0; text-align: left"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>VOTING AGREEMENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">VOTING AGREEMENT, dated
as of September 19, 2017 (this &ldquo;<B>Agreement</B>&rdquo;), by and between MagneGas Corporation, a Delaware corporation with
offices located at 11885 44th St. N. Clearwater, FL 33762 (the &ldquo;<B>Company</B>&rdquo;) and the stockholder signatory hereto
(the &ldquo;<B>Stockholder</B>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">WHEREAS, the Company
and certain investors (each, an &ldquo;<B>Investor</B>&rdquo;, and collectively, the &ldquo;<B>Investors</B>&rdquo;) have entered
into a Securities Purchase Agreement, dated as of September 15, 2017 (the &ldquo;<B>Securities Purchase Agreement</B>&rdquo;),
pursuant to which, among other things, the Company has agreed to issue and sell to the Investors and the Investors have, severally
but not jointly, agreed to purchase (i) the Common Shares (as defined in the Securities Purchase Agreement); and (ii) the Warrants
(as defined in the Securities Purchase Agreement) which will be exercisable to purchase Warrant Preferred Shares (as defined in
the Securities Purchase Agreement) in accordance with the terms of the Warrants.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">WHEREAS, as of the date
hereof, the Stockholder owns shares of Series A Preferred Stock (the &ldquo;<B>Stockholder Shares</B>&rdquo;), which represent
approximately 99% of the total voting power of the Company; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">WHEREAS, as a condition
to the willingness of the Investors to enter into the Securities Purchase Agreement and to consummate the transactions contemplated
thereby (collectively, the &ldquo;<B>Transaction</B>&rdquo;), the Investors have required that the Stockholder agree, and in order
to induce the Investors to enter into the Securities Purchase Agreement, the Stockholder has agreed, to enter into this Agreement
with respect to all the Stockholder Shares now owned and which may hereafter be acquired by the Stockholder and any other securities
of the Company (the &ldquo;<B>Other Securities</B>&rdquo;, and together with the Stockholder Shares, the &ldquo;<B>Stockholder
Securities</B>&rdquo;), if any, which Stockholder is currently entitled to vote, or after the date hereof becomes entitled to vote,
at any meeting of the shareholders of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">NOW, THEREFORE, in consideration
of the foregoing and the mutual covenants and agreements contained herein, and intending to be legally bound hereby, the parties
hereto hereby agree as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">ARTICLE I<BR>
<BR>
<U>VOTING AGREEMENT OF THE STOCKHOLDER</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">SECTION 1.01. <U>Voting
Agreement</U>. Subject to the last sentence of this Section&nbsp;1.01, the Stockholder hereby agrees that at any meeting of the
shareholders of the Company, however called, or in any action by written consent of the Company&rsquo;s shareholders in lieu of
a meeting, the Stockholder shall vote the Stockholder Securities, which Stockholder is currently entitled to vote, or after the
date hereof becomes entitled to vote, at any meeting of the shareholders of the Company or by written consent in lieu of a meeting:
(a) in favor of the Stockholder Approval (as defined in the Securities Purchase Agreement) and the Stockholder Resolutions (as
defined in the Securities Purchase Agreement), in each case, as described in Section 4(z) of the Securities Purchase Agreement;
and (b) against any proposal or any other corporate action or agreement that would result in a breach of any covenant, representation
or warranty or any other obligation or agreement of the Company under the Transaction Documents (as defined in the Securities Purchase
Agreement) or which could result in any of the conditions to the Company's obligations under the Transaction Documents not being
fulfilled. The Stockholder acknowledges receipt and review of a copy of the Securities Purchase Agreement and the other Transaction
Documents. The obligations of the Stockholder under this Section 1.01 shall terminate immediately following the occurrence of the
Stockholder Approval.</P>

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