Stock Repurchase Agreement between Friendly Energy Exploration and Donald L. Trapp
Friendly Energy Exploration has agreed to buy back 950,000 preferred voting shares from Donald L. Trapp for $106,000. Payment will be made to Mr. Trapp via a note with 8% annual interest, with the full amount due in one year from April 1, 2010. The agreement is signed by both parties and outlines the terms for the repurchase and payment.
Exhibit 10.02
STOCK REPURCHASE AGREEMENT
Donald L. Trapp hereby agrees to sell to Friendly Energy Exploration and Friendly Energy Exploration agrees to purchase 950,000 preferred voting shares of Friendly Energy Exploration for a total price of $106,000. Payment is to be made to Donald L. Trapp in the form of a note with interest of 8% per annum from April 1, 2010 all due and payable in one year from this date.
Agreed this 31st day of March 2010.
DONALD L. TRAPP
FRIENDLY ENERGY EXPLORATION
/s/ Donald Trapp_________
/s/ Douglas B. Tallant_________
By: Douglas B. Tallant, Chief Executive Officer
