SECURITY AGREEMENTSecurity Agreement • July 10th, 2007 • Bedminster National Corp • Services-management consulting services
THIS SECURITY AGREEMENT (this “Agreement”) is made as of the 26th day of June, 2007, by BEDMINSTER NATIONAL CORP., a Nevada corporation, having a mailing address at 90 Washington Valley Road, Bedminster, NJ 07921, (the “Company”), Metropolitan Computing Corp., a New Jersey corporation, having a mailing address at 6 Great Meadow Lane, East Hanover, New Jersey 07936 (“MCC”); ( together Company and MCC, individually and collectively, jointly and severally the (“Debtors”), for the benefit and security of DUTCHESS PRIVATE EQUITIES FUND, LTD., having a mailing address at 50 Commonwealth Avenue, Suite 2, Boston, Massachusetts 02116 (the “Secured Party”).
EMPLOYMENT AGREEMENTEmployment Agreement • July 10th, 2007 • Bedminster National Corp • Services-management consulting services • New Jersey
This employment agreement (the "Agreement") is made and entered into as of the 2nd day of July , 2007 by and between Metropolitan Computing Corporation., a New Jersey Corporation (the "Company"), and Michael Levin, (the "Executive").
STOCK PURCHASE AGREEMENTStock Purchase Agreement • July 10th, 2007 • Bedminster National Corp • Services-management consulting services • New Jersey
Pre tax earnings shall be calculated and payments made following the close of each calendar year after Closing until the earlier of (I) earning by and payment to Seller of an aggregate of $200,000 and 1,000,000 shares of the Class A Common Stock of Buyer, or (II) the determination of pre tax income and payment of any amounts earned in respect of the fifth (5th) full calendar year after Closing. Pre tax earnings will be pro-rated for Calendar Year 2007, from the date of Closing to December 31, 2007.
REVOLVING LINE OF CREDIT AGREEMENTRevolving Line of Credit Agreement • July 10th, 2007 • Bedminster National Corp • Services-management consulting services • New Jersey
This Revolving Line of Credit Agreement (the "AGREEMENT") is made and entered into in this 2nd day of July, 2007, by and between BEDMINSTER NATIONAL CORP. , a Nevada corporation (“Lender”), and METROPOLITAN COMPUTING CORPORATION, a New Jersey corporation ("Borrower").
