Exhibit 10.2
INDEMNIFICATION AGREEMENT
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THIS AGREEMENT, made and entered into this 10th day of April, 2003, by and
between Zenex International Inc. (Zenex), a Colorado corporation and Xxxxx X.
Xxxxxx (Xxxxxx), a resident of Oklahoma County, State of Oklahoma.
WITNESSETH:
WHEREAS, Xxxxxx has assumed certain debts and obligations at First National
Bank in Midwest City, Oklahoma, related to the business known as, Zenex Long
Distance d/b/a Zenex Communications, Inc; and
WHEREAS, Xxxxxx and Red River Networks, LLC ("Red River") have or will
enter into a Conditional Sales Agreement under the terms of which Red River has
agreed to pay the said indebtedness of Xxxxxx to First National Bank in Midwest
City, Oklahoma; and
WHEREAS, Zenex agrees to indemnify Xxxxxx and/or Xxxxxx Concrete
Construction Company, Inc. ("NCCCI") in the event of loss or default of payment
by Red River to First National Bank in Midwest City, Oklahoma;
NOW THEREFORE, for a valuable consideration given and received, Zenex
hereby ratifies all indemnification agreements in favor of Xxxxxx and/or NCCCI,
and further agrees to indemnify, defend and hold harmless Xxxxxx and/or NCCCI,
from and against any and all liability, losses, fines suits, damages, expenses,
claims, judgments, costs and demands and actions of any kind related to the
assumption of such debt at First National Bank of Midwest City, Oklahoma, by Red
River Networks, LLC, and from any attorney fees and costs incurred in the
defense of any such claim.
IN WITNESS WHEREOF, the parties named herein have reviewed and approved
this agreement and set their hands the year and day first above written in
Oklahoma County, Oklahoma.
/s/Xxxxx X. Xxxxxx
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Zenex International, Inc. Xxxxx X. Xxxxxx
By: /s/Xxx Xxxxx
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Title: CEO
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