Scheduling and Nominating Services Agreement between Big Apple Energy, LLC and U.S. Gas & Electric, Inc.

Summary

Big Apple Energy, LLC and U.S. Gas & Electric, Inc. entered into an agreement on May 17, 2005. Under this agreement, Big Apple will be the exclusive provider of scheduling and nominating services for the transportation of natural gas purchased by USGE under a new supply arrangement. USGE will pay Big Apple $0.15 per Decatherm of natural gas for these services. The agreement is effective for the duration of the new supply transaction.

EX-10.5 9 g96821exv10w5.txt AGREEMENT WITH BIG APPLE ENERGY EXHIBIT 10.5 AGREEMENT AGREEMENT, made this 17th day of May, 2005 by and between Big Apple Energy, LLC, ("BIG APPLE") having its principal place of business at 36 Cedar Street, Syosset N.Y. 11791 and U.S. Gas & Electric, Inc. ("USGE") having its principal place of business at 290 NW 165th Street, North Miami Beach, FL 33169. In consideration of BIG APPLE's efforts to secure a supply agreement with a wholesale natural gas marketer, as an alternative to the existing financing agreement that USGE currently has in place (hereinafter the "TRANSACTION"), USGE agrees to the following: 1.) During the term of the TRANSACTION, BIG APPLE will be USGE's sole provider of scheduling and nominating services as related to the transporting of natural gas purchased under the TRANSACTION. 2.) USGE agrees to pay BIG APPLE $0.15 per Decatherm of natural gas purchased under the TRANSACTION for providing scheduling and nominating services. In WITNESS WHEREOF, the parties have caused this Agreement to be executed and to be effective as of the date below. Big Apple Energy, LLC U. S. Gas & Electric, Inc. By: /s/ Victor Ferreira By: /s/ Doug Marcille --------------------------------- ------------------------------------ Name: Victor Ferreira Name: Doug Marcille Title: Managing Member Title: Chairman & CEO Date: Date: ------------------------------- ----------------------------------