SETTLEMENT AGREEMENT AND RELEASESettlement Agreement and Release • June 9th, 2008 • PNG Ventures Inc • Blank checks • Florida
THIS SETTLEMENT AGREEMENT AND RELEASE (the “Agreement”) is dated as of June ___, 2008 (the “Effective Date”) by and between (i) Black Forest International, LLC (“BFI”) a Delaware limited liability company, (ii) Earth Biofuels, Inc. and all of its subsidiaries, which include, but are not limited to, Earth LNG, Inc., a Texas corporation, and each of Applied LNG Technologies USA, L.L.C., Fleet Star, Inc., Apollo Leasing, Inc. and Arizona LNG, L.L.C., each of which are wholly owned subsidiaries of Earth LNG (collectively referred to hereinafter as “EBOF”) a Delaware corporation and (iii) PNG Ventures, Inc. (“PNGX”) a Nevada corporation. (BFI, EBOF and PNGX may be referred to hereinafter individually as a “Party” and collectively as the “Parties.”)
ESCROW AGREEMENTEscrow Agreement • June 9th, 2008 • PNG Ventures Inc • Blank checks • Florida
THIS ESCROW AGREEMENT (the “Agreement”) is dated as of June ____, 2008 among (i) PNG Ventures, Inc., a Nevada corporation ("PNGX" and individually a “Party”), (ii) Black Forest International, LLC, a Delaware limited liability company (“BFI” and individually a “Party”), and (iii) ___________. (the “Escrow Agent” and individually a “Party”). PNGX, BFI and the Escrow Agent may hereinafter be referred to collectively as the “Parties.”
ESCROW AGREEMENTEscrow Agreement • June 9th, 2008 • PNG Ventures Inc • Blank checks • Florida
THIS ESCROW AGREEMENT (the “Agreement”) is dated as of June___, 2008 among (i) PNG Ventures, Inc., a Nevada corporation ("PNGX" and individually a “Party”), (ii) Earth Biofuels, Inc., a Delaware limited liability company (“EBOF” and individually a “Party”), and (iii) Madison Stock Transfer, Inc. (the “Escrow Agent” and individually a “Party”). PNGX, EBOF and the Escrow Agent may hereinafter be referred to collectively as the “Parties.”
