EXECUTIVEExecutive Employment Agreement • July 30th, 2002 • Biodiesel Industries Inc • Wholesale-petroleum bulk stations & terminals • Nevada
Exhibit 10.4 MEMORANDUM OF UNDERSTANDING This Memorandum of Understanding ("Agreement") is entered into between the Biodiesel Development Corporation ("BCD"), a Delaware corporation, and Haycock Petroleum Distributing ("Haycock"), a Nevada...Memorandum of Understanding • July 30th, 2002 • Biodiesel Industries Inc • Wholesale-petroleum bulk stations & terminals
This Memorandum of Understanding ("Agreement") is entered into between the Biodiesel Development Corporation ("BCD"), a Delaware corporation, and Haycock Petroleum Distributing ("Haycock"), a Nevada corporation, for the purpose of establishing a mutually exclusive relationship for the distribution of biodiesel in Southern Nevada ("Territory"). BDC and Haycock shall be referred to jointly as the "Parties."
EXHIBIT 10.5 [BIODIESEL INDUSTRIES, INC. LOGO] BIODIESEL PRODUCTION UNIT PROPOSAL This proposal is made in conjunction with the terms of the attached Preferred Distributor Agreement and describes the intended use of a funding level $300,000. Said...Preferred Distributor Agreement • July 30th, 2002 • Biodiesel Industries Inc • Wholesale-petroleum bulk stations & terminals
This proposal is made in conjunction with the terms of the attached Preferred Distributor Agreement and describes the intended use of a funding level $300,000. Said funding to be provided by Western States Oil, Inc. ("WSO") as a convertible loan, the terms of which provide for repayment of the loan plus interest from projects generated b the unit to be constructed and which allows, at WSO's discretion, for the unpaid balance of the loan and accrued interest to be converted to shares of stock in Biodiesel Industries, Inc. ("BI") upon the same terms and conditions as the offering described in the Private Placement Memorandum (PPM). BI of San Jose, CA will be operated as a subsidiary division of BI, and will be directed by a divisional board of directors upon which WSO may designate a director until such time as the loan is repaid or the loan is converted to shares of stock in BI. The convertible loan will be repaid, in monthly payments, from 50% of the net projects from the operation of
