Common use of Settlement of Receivables Clause in Contracts

Settlement of Receivables. 2.1 NMS has agreed to accept from NEWLEAD payment in kind (namely, shares of NEWLEAD's common stock) instead of cash in full and final satisfaction of the Receivable. Accordingly, NEWLEAD has agreed to issue in favour of NMS shares of NEWLEAD's common stock with total value of USD 541,670 (United States Dollars five hundred forty one thousand six hundred seventy) at the time of issuance (the "Shares"). The share price to be used for the calculation of the shares to be issued will be the average of the closing price of NEWLEAD's common stock for the last 10 trading days prior to the date of signing of this Agreement. The number of shares to be issued will be such number that, when multiplied by the share price calculated in accordance herewith, will result to a value of USD 541,070 (United States Dollars five hundred forty one thousand six hundred seventy). The Shares will be issued in full and final settlement of the Receivable and NMS hereby agrees to accept the Shares in full and final settlement of the Receivable.

Settlement of Receivables. 2.1 NMS TSA has agreed to accept from NEWLEAD payment in kind (namely, shares of NEWLEAD's common stock) instead of cash in full and final satisfaction of the Receivable. Accordingly, NEWLEAD has agreed to issue in favour of NMS TSA shares of NEWLEAD's common stock with total value of USD 541,670 377,866.52 (United States Dollars five Three hundred forty one seventy seven thousand eight hundred sixty six hundred seventyand fifty two cents) at the time of issuance (the "Shares"). The share price to be used for the calculation of the shares to be issued will be the average of the closing price of NEWLEAD's common stock for the last 10 trading days prior to the date of signing of this Agreement. The number of shares to be issued will be such number that, when multiplied by the share price calculated in accordance herewith, will result to a value of USD 541,070 377,866.52 (United States Dollars five Three hundred forty one seventy seven thousand eight hundred sixty six hundred seventyand fifty two cents). The Shares will be issued in full and final settlement of the Receivable and NMS TSA hereby agrees to accept the Shares in full and final settlement of the Receivable.

Settlement of Receivables. 2.1 NMS JELLY has agreed to accept from NEWLEAD payment in kind (namely, shares of NEWLEAD's common stock) instead of cash in full and final satisfaction of the Receivable. Accordingly, NEWLEAD has agreed to issue in favour of NMS JELLY shares of NEWLEAD's common stock with total value of USD 541,670 1,562,706.35 (United States Dollars One million five hundred forty one sixty two thousand seven hundred six hundred seventyand thirty five cents) at the time of issuance (the "Shares"). The share price to be used for the calculation of the shares to be issued will be the average of the closing price of NEWLEAD's common stock for the last 10 trading days prior to the date of signing of this Agreement. The number of shares to be issued will be such number that, when multiplied by the share price calculated in accordance herewith, will result to a value of USD 541,070 1,562,706.35 (United States Dollars One million five hundred forty one sixty two thousand seven hundred six hundred seventy)and thirty five cents}. The Shares will be issued in full and final settlement of the Receivable and NMS JELLY hereby agrees to accept the Shares in full and final settlement of the Receivable.

Settlement of Receivables. 2.1 NMS AURORA has agreed to accept from NEWLEAD payment in kind (namely, shares of NEWLEAD's common stock) instead of cash in full and final satisfaction of the Receivable. Accordingly, NEWLEAD has agreed to issue in favour of NMS AURORA shares of NEWLEAD's common stock with total value of USD 541,670 277,588.20 (United States Dollars Two hundred seventy seven thousand five hundred forty one thousand six hundred seventyeighty eight and twenty cents) at the time of issuance (the "Shares"). The share price to be used for the calculation of the shares to be issued will be the average of the closing price of NEWLEAD's common stock for the last 10 trading days prior to the date of signing of this Agreement. The number of shares to be issued will be such number that, when multiplied by the share price calculated in accordance herewith, will result to a value of USD 541,070 277,588.20 (United States Dollars Two hundred seventy seven thousand five hundred forty one thousand six hundred seventyeighty eight and twenty cents). The Shares will be issued in full and final settlement of the Receivable and NMS AURORA hereby agrees to accept the Shares in full and final settlement of the Receivable.