Exhibit 99(i)
CONSULTING AGREEMENT
Agreement made as of this 7th day of November, 2002, and between Trans Energy,
Inc. (the Company and A. Xxxxxx Xxxxxxxx (the "Consultant").
WITNESSETH:
WHEREAS, the Company wished to engage the Consultant for services to the Company
as set forth herein upon the terms and conditions set forth herein; and
WHEREAS, the Consultant wished to be engaged to provide the services to the
Company as set forth herein upon the terms and conditions set forth herein;
NOW THEREFORE, in consideration of the promises and mutual covenants herein se
forth it is agreed as follows:
A. The Company hereby retain the Consultant as a technical/financial
consultant and the consultant shall provide to the Company, when
requested by the Company from time to time during normal business
hours, consultation concerning but not limited to aiding in the
communication and depositions of any judgment, liens, bankruptcy
proceeding or other claim by creditors of Trans Energy, Inc. to aid in
the communication and disposition of any tax matter to include income
tax, payroll tax, property tax both state and federal. To deal directly
with the appropriate regulatory agency with the preparing and filing of
the appropriate and required tax and other form to the extent legally
allowed by consultant.
B. The Company agrees to work with Consultant to furnish consultant with
the appropriate and related documents to complete the service as stated
above. Company also agrees to give consultant the limited and specify
Power of Attorney to accomplish the task as stated above.
C. This agreement shall become effective on the date thereof and shall
continue for a period of Twelve Months.
D. As compensation for its services the Company shall issue to the
Consultant Three and One Half Million (3,500,000) Shares of the
Company's common stock ("The shares") which shares shall be fully paid
and nonassessable. The transfer agent is to be notified to immediately
issue these shares in the name of Venture Investments LLC and have them
mailed to Xxxxxxxxx Xxxxxx & Xxxxx, Attention Xxx Xxxxxxxx, 0000
Xxxxxxxxx Xxxx, X.X. Xxxxx 0000, Xxxxxxx, Xxxxxxx 00000.
E. The Consultant agrees to pay for all reasonable business expenses for
the services to be rendered hereunder, including but not limited to
travel, food, lodging and entertainment.
F. The Consultant covenants that all information concerning the Company,
including Proprietary information of which it obtains knowledge as a
result of the services rendered pursuant to the Agreement shall be kept
confidential and shall not be used by the Consultant to any third party
without the prior consent of the Company.
G. The Consultant and the Company hereby acknowledge that the Consultant
is a independent contractor. The Consultant shall not hold itself out
as, nor shall it take any action from which others might infer that it
is a partner of the Company. In addition, the Consultant shall take no
actions which bind, or purports to bind the Company.
H. The Company agrees to indemnify and hold the Consultant and its
officers, directors, employees, associates, and agents harmless from
and against all losses, claims, damages, liabilities, cost expenses and
attorney fees arising in connection with the agreement or the services
rendered hereunder.
I This agreement contains the entire agreement between the parties. It
may not be changed except by agreement in writing signed by the party
against who enforcement of a waiver change, discharge, or modification
is sought. Waiver or failure to exercise any rights provided by the
Agreement in any respect shall not be deemed a waiver or any former or
future rights.
J. This agreement shall be construed according to the laws of the State of
West Virginia and subject to the jurisdiction of the courts of the
state.
K. This agreement shall be binding upon the parties the successors or
assigns.
L. This agreement may be executed in one or more counterparts, each of
which will be deemed an original and together will constitute one
document. The delivery by facsimile of an executed counterpart of the
agreement will be deemed to be an original and will have the full force
and effect of an original executed copy.
M. Any notice, request, demand or any communication required or permitted
to be given hereunder shall be deemed to be properly given when
personally served in writing or when deposited in the United States
mail, postage prepaid, certified and addressed to the other party at
their principle address.
IN WITNESS WHEREOF, the parties hereto have executed or caused this document to
be Executed as of the day and year first written above.
Trans Energy, Inc.
/s/ X. X. Xxxxxxxx /s/ A. Xxxxxx Xxxxxxxx
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X. X. Xxxxxxxx A. Xxxxxx Xxxxxxxx
Secretary
