SEAFARER EXPLORATION CORP - FORM 10-K - EX-10.6 - FEE SETTLEMENT AGREEMENT BY AND BETWEEN CLEARTRUST, LLC AND SEAFARER EXPLORATION CORP. DATED JULY 10, 2012. FILED WITH FORM 10-K ON APRIL 10, 2013. - April 15, 2013

Attached files

file filename
EX-10.2 - AGREEMENT BY AND BETWEEN RIDGELY-STEMMONS LIMITED PARTNERSNIP, JOINT-VENTURE AND SEAFARER EXPLORATION CORP. DATED MARCH 2, 2012. FILED WITH FORM 10-K ON APRIL 10, 2013. - SEAFARER EXPLORATION CORPexhibit_10-2.htm
EX-10.5 - FEE SETTLEMENT AGREEMENT BY AND BETWEEN CLEARTRUST, LLC AND SEAFARER EXPLORATION CORP. DATED MAY 25, 2012. FILED WITH FORM 10-K ON APRIL 10, 2013. - SEAFARER EXPLORATION CORPexhibit_10-5.htm
EX-10.7 - ADVISORY COUNCIL AGREEMENT BY AND BETWEEN PELLE OJASU AND SEAFARER EXPLORATION CORP. DATED OCTOBER 23, 2012. FILED WITH FORM 10-K ON APRIL 10, 2013. - SEAFARER EXPLORATION CORPexhibit_10-7.htm
EX-10.4 - BOARD OF DIRECTORS LETTER AGREEMENT BY AND BETWEEN CHARLES BRANSCUM AND SEAFARER EXPLORATION CORP. DATED MAY 16, 2012. FILED WITH FORM 10-K ON APRIL 10, 2013. - SEAFARER EXPLORATION CORPexhibit_10-4.htm
EX-32.1 - CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350, AS ADOPTED PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002 - SEAFARER EXPLORATION CORPexhibit_32-1.htm
EX-31.1 - CERTIFICATION OF CHIEF EXECUTIVE OFFICER AND PRINCIPAL ACCOUNTING OFFICER PURSUANT TO THE SECURITIES EXCHANGE ACT OF 1934, RULES 13A-14 AND 15D-14 - SEAFARER EXPLORATION CORPexhibit_31-1.htm
10-K - SEAFARER EXPLOATION FORM 10K 12-31-2012 - SEAFARER EXPLORATION CORPseafarer_10k-15847.htm
EX-10.8 - ADVISORY COUNCIL AGREEMENT BY AND BETWEEN LEN KOHL AND SEAFARER EXPLORATION CORP. DATED DECEMBER 03, 2012. FILED WITH FORM 10-K ON APRIL 10, 2013. - SEAFARER EXPLORATION CORPexhibit_10-8.htm
EX-10.3 - CONSULTING AGREEMENT BY AND BETWEEN DAVID CHALELA AND SEAFARER EXPLORATION CORP. DATED APRIL 3, 2012. FILED WITH FORM 10-K ON APRIL 10, 2013. - SEAFARER EXPLORATION CORPexhibit_10-3.htm
EXHIBIT 10.5
 
Fee Settlement Agreement
 
Recitals
 
AGREEMENT entered into this 10th day of July, 2012, by and between Seafarer Exploration Corp (the "Company"), and ClearTrust, LLC ("Transfer Agent").
 
WHEREAS, the Transfer Agent has incurred various reimbursable expenses resulting directly from acting as transfer agent for the Company, and the Company is obligated to reimburse the Transfer Agent for said expenses.
 
NOW, THEREFORE, the Company and Transfer Agent hereby agree to settle the amount owed to the Transfer Agent with shares of restricted stock. The parties hereto agree as follows:
 
1.       Legal Expenses Owed
 
The transfer agent has incurred reimbursable expenses and invoiced the Company as detailed in the table below:
 
Date of Invoice to Company
Invoice Number
Amount
Reason for Invoice
4/20/12
1262
$783.88
Legal expenses related to "Eldred vs. Seafarer" case
5/31112
1346
$105.00
Legal expenses related to "Eldred vs. Seafarer" case
7/6/12
1479
$4787.83
Legal expenses related to "Eldred vs. Seafarer" case
 
TOTAL
$5,676.71
  
 
2.       Issuance of Stock
The Company shall reimburse the Transfer Agent cashless with a non-refundable payment of 1,530,111 shares of restricted common stock of the Company. The Transfer Agent may sell the shares in the public marketplace in reliance on Rule 144 or negotiate the sale of the shares in a privately negotiated transaction. Regardless the manner of sale, the Transfer Agent must apply all proceeds gained by the sale of the shares to the open invoices listed in the table above.
 
Should the Transfer Agent realize less proceeds than the total due in the table above, the Transfer Agent may request up to 1,000,000 additional shares of stock or a cash payment to cover the difference in the amount owed.
 
5.       Severability
In the event that any one or more provisions herein shall for any reason be held to be invalid, illegal or unenforceable in any respect, such invalidity, illegality or unenforceability shall not affect any other provision hereof.
 
 
 
 
Page 1 of 2
 
 
 
 
6.       Miscellaneous
This Agreement (i) constitutes the entire agreement between the parties hereto with respect to the subject matter hereof and shall supersede all prior understandings and agreements as to such subject matter; (ii) may be amended or modified only by a writing executed by the party against whom enforcement is sought; (iii) shall inure to the benefit of and be binding upon the respective heirs, administrators, personal representatives, successors and assigns of the parties hereto; and (iv) shall be governed by and construed in accordance with the laws of Florida.
 
IN WITNESS WHEREOF, the parties hereto have executed this Fee Settlement Agreement as of the date and year first above written.
 
CLEARTRUST, LLC:
 
 
 
Kara Kennedy, Director
 
 
 
 
SEAFARER EXPLORATION CORP.
 
 
/s/ Kyle Kennedy
Kyle Kennedy, Director
 
 
 
 
 
 
 
 
 
 
 
 
Page 2 of 2

Stock widget

Investing forum

SEAFARER EXPLORATION CORP Reports