STANDBY EQUITY DISTRIBUTION AGREEMENTStandby Equity Distribution Agreement • December 9th, 2009 • EnerJex Resources, Inc. • Crude petroleum & natural gas • Nevada
Paladin Capital is, and any other Selling Stockholder, broker-dealer or agent that are involved in selling the shares may be deemed to be, an “underwriters” within the meaning of the Securities Act in connection with such sales. In such event, any commissions received by such broker-dealers or agents and any profit on the resale of the shares purchased by them may be deemed to be underwriting commissions or discounts under the Securities Act. Each Selling Stockholder has informed the Company that it does not have any written or oral agreement or understanding, directly or indirectly, with any person to distribute the Common Stock. In no event shall any broker-dealer receive fees, commissions and markups which, in the aggregate, would exceed eight percent (8%).
