Capital Contribution Agreement between Jim Glavas and North American Natural Gas, Inc.
Contract Categories:
Business Finance
›
Contribution Agreements
Summary
This agreement is between Jim Glavas and North American Natural Gas, Inc., effective July 24, 2008. Jim Glavas, who owns 21,670,000 shares of the company's common stock, agrees to transfer 21,370,000 of those shares to the company as a capital contribution. In return, he retains ownership of 300,000 shares. The company acknowledges receipt of the contributed shares as part of its capital. This agreement formalizes the transfer and contribution of shares to the company by the shareholder.
EX-10.4 7 w67326exv10w4.htm EX-10.4 exv10w4
EXHIBIT 10.4
CAPITAL CONTRIBUTION AGREEMENT
Contribution of Common Stock
THIS IS A CAPITAL CONTRIBUTION AGREEMENT (this “Instrument”) by and between Jim Glavas, an individual (Shareholder”), and North American Natural Gas, Inc., a Washington corporation (the “Company”), effective as of July 24, 2008, and by which such parties, for good and valuable consideration, the receipt, adequacy and sufficiency of which is hereby acknowledged, hereby agree as follows:
1. Background. Shareholder owns 21,670,000 shares of common stock (the “Common Stock”) of the Company.
2. Contribution. As a contribution to capital with respect to 300,000 shares of Common Stock that Shareholder will continue to own, Shareholder does hereby bargain, sell, give, grant, convey, transfer, set over and assign to the Company all of the Shareholder’s rights, title and interest in, to and under 21,370,000 shares of Common Stock.
3. Acknowledgment of Receipt. The Company acknowledges receipt of the contributed Common Stock as a capital contribution made by Shareholder with respect to his remaining Common Stock.
DULY EXECUTED and delivered by the parties effective as of the date first written above.
| COMPANY: | SHAREHOLDER: | |||||
By: Name: | /s/ Jim Glavas | /s/ Jim Glavas | ||||
