As Filed with the Commission on October 24, 2016
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NEVADA
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000-55235
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20-1914514
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(State or other jurisdiction of incorporation)
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(Commission File Number)
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(I.R.S. Employer Identification No.)
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2100 North Wilmot, #211, Tucson, AZ
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85712
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(Address of principal executive offices)
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(Zip Code)
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(a)
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Financial statements of businesses acquired.
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(b)
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Pro forma financial information.
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(c)
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Shell company transactions.
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(d)
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Exhibits
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10.1
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10.2
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ABCO ENERGY, INC.
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Dated: October 24, 2016
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By:
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/s/ Charles O’Dowd
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Name: Charles O’Dowd
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Title: Chief Executive Officer
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a. |
Consultant operates a financial consulting and advising firm that provides business and financial advice to various companies such as the Company, and also introduces companies to securities law professionals. legal teams, accountants, auditors, investment bankers, brokerage firms, venture capital firms. banks, private equity firms, special situation investors, alternative debt financiers and others (hereinafter "Entity" or "Entities") who may be able to provide equity or debt financing to Consultant's clients.
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b. |
Company hereby retains Consultant to perform the aforesaid consulting services for Company on the terms and for the consideration set forth below. and Consultant hereby agrees to perform said consulting services on the terms and for the consideration set forth herein.
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c. |
Pursuant to the terms of this Agreement, Consultant has now identified one specific entity, and will make an introduction of said entity to the Company. Consultant also knows other entities whom Consultant will also introduce to the Company. In each case, Consultant believes these entities may have an interest in providing public company resources and perhaps financing to the Company.
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2. |
General Services.
Provide strategic advice and consulting services. on an as needed basis as determined by the mutual agreement of both Consultant and the Company with regard to the Company including but not limited to: (i) introduction and facilitation with legal counsel, auditors, GAAP accountants and transfer agents to facilitate a better public company outlook (ii) introduction and facilitation with investor relations firm (iii) introduction to potential capital investors. The scope of the Services and additional compensation structure, if any, for strategic advice, consulting, and other investment banking related services on behalf of the Company or otherwise, shall be determined on a case-by-case basis by the parties.
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3. |
Performance of Services.
In conjunction with the performance of the Services. Consultant agrees to:
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a. |
Make itself available to the Company for phone conferences during normal business hours for reasonable periods of time, subject to reasonable advance notice and mutually convenient scheduling, for the purpose of ad vising the Company with regard to the Services to be performed and the preparation of such reports, summaries, corporate profiles, suggested terms for recapitalization or restructuring of financial instruments, due diligence packages, corporate presentations, and/or other material and documentation as shall, be necessary to properly present the Company to individuals and/or entities that could be a benefit to the Company.
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b. |
Advise the Company in evaluating proposals from potential strategic alliances. Consultant may be involved in negotiating with potential strategic alliances on behalf of the Company; provided, however, that Consultant shall not be involved in the negotiations with potential investors in the Company.
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c. |
In connection with Consultant providing the Services. the Company agrees to keep Consultant up to date and apprised of all business, market and legal developments related to the Company and its operations and management. Consultant shall devote such time and effort, as it deems commercially reasonable under the circumstances to the affairs of the Company to render the Services. Consultant shall not provide any services that constitute the rendering of a legal opinion or perform any work that is in the ordinary purview of the Certified Public Accountant. Consultant cannot guarantee results on behalf of the Company, but shall pursue all avenues that it deems reasonable through its experience and network of contacts. It is understood that a portion of the compensation paid hereunder is being paid by the
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d. |
The Company shall provide to Consultant copies of the Company's Business Plan, PowerPoint Presentation and such other collateral materials necessary for Consultant’s performance hereunder. The Company shall also make available certain of its employees and advisors (including but not limited to legal and accounting) for the purposes of expert advice and perspective for the Services to be performed by Consultant as well as for presentations and meetings. Consultant acknowledges and agrees that the Company's Business Plan. PowerPoint Presentation and other collateral materials to which Consultant may have access to during the performance of this Agreement are confidential information and as such, shall not be distributed to third parties which such distribution is outside the scope of the services to be performed hereunder.
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Term.
The term of this Agreement shall commence on the date first written above and shall end six (6) months thereafter, unless terminated in accordance with the provisions set forth below. or extended by the mutual written consent of the panics hereto (the "
Term
"). This Agreement may be terminated only:
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a. |
By the Company or Consultant for any reason upon thirty (30) days' written notice prior to the completion of the initial term: or By Consultant upon default in the payment of any amounts due to Consultant pursuant to this agreement, if such default continues for more than fifteen (15) days following receipt by the Company from Consultant of written notice of such default and demand for payment. All monies owed are due upon termination; or
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By mutual agreement of the parties. If the Company terminates the agreement. the Company does so upon their own volition and without recourse, and will not receive any amount of monies paid in the form of a refund, credit, or any other fom1 of payment upon termination. Upon payment to Consultant, the Company forfeits all future rights to the monies paid to the Consultant for services. The Company shall be free during the period services are rendered to retain other entities. consultants, brokers or others. and with such persons as it deems fit and this agreement does not provide for an exclusive arrangement. Section 4 is irrevocable and survives the termination or the Agreement.
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5. |
Compensation for Service.
As consideration for the performance of the Services, the Company shall pay Consultant a consultant's retainer fee (the "
Consulting Fee
") of
one million five hundred thousand shares (1,500,000) shares of Restricted ABCE Stock due at the signing of this agreement, for the Consultant's aforementioned services.
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Travel Expenses.
The Company hereby agrees that all fees paid under this Agreement, are exclusive of any reasonable out of pocket travel, hotel and meal expenses that will be incurred by the members of Consultant pursuant to providing the Services. The Company and Consultant further agree that prior to any travel by a Consultant member. Consultant will notify the Company of the purpose of the travel and the estimated air travel and hotel expenses to be incurred and the Company will either pay such expenses for such member or notify Consultant that the expenses are not authorized. The Company will reimburse any reasonable meal expenses incurred by a Consultant member in relation to such travel within fifteen (15) days of being invoiced by Consultant for such expenses. All expenses must be approved by the Company.
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Use of Name.
The Company shall not utilize the name "Benchmark Advisory Partners LLC", or any derivative thereof in any publication, announcement or otherwise, without the prior written consent of Consultant.
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8. |
Indemnification and Warranties.
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a. |
The Company agrees to indemnify Consultant and hold it harmless against any losses, claims, damages or liabilities arising out of, in connection with, or relating in any manner, directly or indirectly, to a breach of this Agreement or the performance of the Services hereunder, unless it is finally determined by a court of competent jurisdiction that such losses, claims, damages or liabilities arose out of the gross negligence of Consultant or any violation of applicable
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The Company and Consultant agrees that if any indemnification sought pursuant to the preceding paragraph is finally judicially determined to be unavailable, then the Company and Consultant shall contribute to the losses, claims, liabilities, damages and expenses for which such indemnification or reimbursement is held unavailable in such proportion as is appropriate to reflect the relative fault of the Company, on the one hand, and Consultant, on the other, in connection with this Agreement subject, the limitation that in any event Consultant's, contribution to all losses, claims, liabilities, damages and expenses with respect to which contribution is available hereunder shall not exceed the amount of the cash fees actually received by Consultant hereunder.
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c. |
The Company represents and warrants that it is not a party to any consulting or financial advisory agreements of any kind that may conflict with this Consulting Agreement. The Company at the request of Consultant will offer confirmation, in writing, to that effect.
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Consultant represents and warrants that the Services performed hereunder shall at all times be in compliance with all applicable state and federal laws and regulations, including, but not limited to, securities law and regulations.
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e. |
Consultant has no liability to the Company for any acts or omissions in the performance of services except for act or omissions that are clue to the gross negligence of Consultant.
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9. |
Broker-Dealer.
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10. |
Independent Contractor.
The parties hereto agree that Consultant is an independent contractor and shall not in any manner be deemed an agent or partner of, or co-venture with the Company. In no event is Consultant authorized or obligated to commit the Company to any agreement and the Company shall have no obligation to enter any transaction identified by Consultant. The Company is not obligated or required to accept any offer to purchase equity securities by any investor identified by Consultant.
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Modification and Waiver.
Only an instrument in writing executed by the parties hereto may amend this Agreement. The failure of any party to insist upon strict performance of any of the provisions of this Agreement shall not be construed as a waiver of any subsequent default of the same or similar nature, or any other nature.
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Construction.
The captions used i n this Agreement are provided for convenience only and shall not affect the meaning or interpretation of any provision of this Agreement.
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Facsimile Signature.
Facsimile transmission of any signed original document, and retransmission of any signed facsimile transmission, shall be the same as delivery of an original. At the request of either party, the parties shall confirm facsimile transmitted signatures by signing an original document.
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Severability.
lf any provision of this Agreement shall be invalid or unenforceable in any respect for any reason, the validity and enforceability of any such provision in any other respect, and of the remaining provisions of this Agreement, shall not be in any way impaired.
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Non-Exclusive.
Consultant acknowledges and agrees that it is being granted non-exclusive rights with respect to the Services to be provided to the Company and the Company is free to engage other parties to provide consulting services similar to those being provided by Consultant hereunder. The parties may agree to enter into an exclusive opportunity and shall provide a written agreement necessary.
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18. | Non-Circumvention. Neither party shall attempt to or actually circumvent or interfere with business relationships between the Company and/or Consultant, their clients or sources of transactions. Further. now and for two years after the date hereof the Company shall not, directly or indirectly. Establish, or receive or pay compensation for or financing for or receive, any interest. Investment, financing, or participate in any merger, acquisition, joint venture, agency, vendor, issuance of securities or other relationship with Consultant's clients or sources of transactions that were introduced to the Company by Consultant or became aware of the Company through the provision of Services by Consultant, in circumvention of the business relationships between the Company and Consultant, Consultant’s clients or sources of transactions established in this Consulting Agreement. As such, because there is no specific limit to the value of the services provided, the Company agrees to pay the Consultant in accordance with the above payment schedule during the term of this agreement and for two years after the termination of the Agreement, if any corporate milestones are reached as the result of the Consultant's introductions or efforts. |
19. |
Survivability.
Neither the termination of this Agreement nor the completion of any services to be provided by Consultant hereunder, shall affect the provisions of this Agreement that shall remain operative and in full force and effect.
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Entire Agreement.
This Agreement constitutes the entire agreement and understanding of the parties hereto with respect to the subject matter of this Agreement and supersedes all prior understandings and agreements, whether written or oral, among the parties with respect to such subject matter. Specifically, all prior agreements and contracts entered into by and between the parties hereto shall immediately terminate upon the execution of this Agreement and neither party shall have any further obligations thereunder.
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Company:
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Consultant:
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ABCO Energy, Inc.
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Benchmark Advisory Partners LLC
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By: Charles O’Dowd, CEO
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Timothy Connor, President
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Date: 8/26/16
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Date: 9/2/2016
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Signature: /s/ Charles O’Dowd
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Signature: /s/ Timothy Connor
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