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8-K - CURRENT REPORT DATED 5-13-10 - Kingfish Holding Corpg4131.txt

                                                                    Exhibit 10.1

                                    AGREEMENT

     THIS AGREEMENT dated this 27th day of May, 2010, by and between  KESSELRING
HOLDING CORPORATION,  a Delaware corporation (Holding), KING BRO WOOD, L.L.C., a
Washington  limited  liability  company (King Wood), GARY E. KING (King) and KEN
CRAIG (Craig).

                                    RECITALS

     A. Holding was the sole  shareholder of Kesselring  Corporation,  a Florida
corporation (Kesselring Florida) and Kesselring was the sole shareholder of King
Brothers Woodworking, Inc., a Washington corporation (King Brothers).

     B. Holding  borrowed  funds from AMI Holdings,  Inc. (AMI) in the principal
and interest  amount of Five Hundred  Eighty-Two  Thousand Seven Hundred Seventy
and 28/100 Dollars  ($582,770.28) and said transaction was secured by all of the
assets of Holding,  which  included  Kesselring  Florida stock and King Brothers
stock.

     C. Due to Holdings'  default to AMI, AMI exercised its self help provisions
and acquired the stock of Kesselring Florida and King Brothers.

     D. AMI sold all of the  stock in King  Brothers  to King Wood and King Wood
purchased said stock from AMI for the  consideration of Five Hundred  Eighty-Two
Thousand Seven Hundred Seventy and 28/100 Dollars ($582,770.28).

     E. Holding is also indebted to King in the total amount of Five Hundred Two
Thousand  Five  Hundred  Sixty-Four  and  82/100  Dollars  ($502,564.82)  (which
includes the Cliff Wildes Note of $25,000 dated November 11, 2009,  with accrued
interest of $4,174.05, for a total due and owing of $29,174.05), and is indebted
to Craig in the total amount of  Twenty-Nine  Thousand One Hundred  Seventy-Four
and 05/100 Dollars ($29,174.05).

                                     - 1 -

F. Additionally, King Wood is also willing to pay Holding additional consideration for Holding to release any claim which Holding may have in King Brothers. NOW THEREFORE, for valuable consideration, receipt of which is hereby acknowledged, the parties agree as follows: Purchase Obligations. In addition to King Wood paying the amount of Five Hundred Eighty-Two Thousand Seven Hundred Seventy and 28/100 Dollars ($582,770.28) to AMI for a one hundred percent (100%) interest in King Brothers, King Wood agrees to pay Holding the amount of Five Hundred Two Thousand Five Hundred Sixty-Four and 82/100 Dollars ($502,564.82)by delivery of the notes owned by King (including the Cliff Wildes Note)marked paid and the amount of Twenty-Nine Thousand One Hundred Seventy-Four and 05/100 Dollars ($29,174.05) by delivery the note owned by Craig marked paid. Additionally, King and Craig agree to look no further to Holding for repayment of the above-referenced amounts. 2. Additional Consideration. In addition to the payment to AMI and the payment to King and Craig, King Wood agrees to pay One Hundred Fifty-Six Thousand Nine Hundred Ninety-Nine and 85/100 Dollars ($156,990.85) to Holding in consideration of Holding releasing all claims and/or interest Holding may have in King Brothers. Said payment to Holding shall be in the form of a promissory note payable over 24 months at the interest rate of 6% per annum. King Brothers has guaranteed the payment of various obligations of Holding, and may become liable for others due to this transaction. King Wood shall have right of offset and receive a credit against the promissory note issued to Holding for any and all amounts paid by King Brothers, or King Wood, on behalf of holding. The amounts paid herein include the MAS90 and MAS200 systems, equipment, furnishings, and other properties in the possession of King Brothers Woodworking, Inc. The total of all consideration paid by King Bro is $1,271,500.00. 3. Binding Effect. All of the terms of this Agreement shall be binding and inure to the benefit of the parties hereto, their respective successors and assigns. - 2 -
4. Governing Law: This Agreement shall be governed by the laws of the state of Washington and shall be enforceable in the state of Washington. 5. No Assignment. Neither this Agreement nor any interest therein shall be assigned by any party without the prior written consent of the other parties hereto. IN WITNESS WHEREOF, the parties hereto have cause this Agreement to be entered into on the date and year first set forth above. Date: May 27, 2010 KESSELRING HOLDING CORPORATION By: /s/ Ken Craig ----------------------------------------- Its:President Date: May 27, 2010 KING BRO WOOD, L.L.C. By: /s/ Gary E. King ----------------------------------------- Its: Manager Date: May 27, 2010 /s/ Gary E. King -------------------------------------------- Gary E. King Date: May 27, 2010 /s/ Ken Craig -------------------------------------------- Ken Craig - 3