GLOBAL SETTLEMENT
AGREEMENT
This Global Settlement Agreement (the
"Agreement") is made and entered into as of this 18 day
of May 2009 by and between Indigo-Energy, Inc., a Nevada
corporation (the "Company") and Leo Moore, an individual with
an address at ______________________ (the “Creditor”
and together with the Company, the "Parties”.)
WHEREAS, on January 19, 2006, the Company executed
a Promissory Note (the “Note”) in favor of the Creditor
for stock and cash which was subsequently modified in various
extensions and prior Settlement Agreements, and which outstanding
balance now remains $194,500;
WHEREAS, as of the date of this Agreement, an
aggregate of approximately $194,500 remains unpaid on the Note (the
“Outstanding Debt”); and
WHEREAS, the Parties have agreed that it is in all
of their interests to settle the Outstanding Debt through the
issuance of shares of the Company’s common stock to the
Debtor.
NOW THERFORE, the Parties hereto agree as follows:
Section 1. Release, Waiver and
Settlement. Effective upon the execution of this Agreement, and
subject to the provisions hereof, the Creditor hereby releases and
waives his respective rights and claims to the Outstanding Debt and
further releases and waives all rights, claims and interests that
are, or may be available, to him under the Note, or any agreement
entered into by the Parties in relation thereto, other than this
Agreement. The Parties agree that after the execution of
this Agreement they shall have no obligations or rights against
each other except with respect to the issuance of the Shares
referenced below.
Section 2. Consideration. As
consideration for the release, waiver and settlement by the
Parties’ respective rights and interests provided under the
Note, the Company hereby agrees to issue and deliver to the
Creditor an aggregate
