Document:

EX_102FormOftargetAwardNotificationLetterfy2015

Exhibit 10.2
FORM OF TARGET AWARD NOTIFICATION LETTER (FISCAL 2015)
UNDER FARMER BROS. CO. 2005 INCENTIVE COMPENSATION PLAN

Dear ______________:
The Compensation Committee (“Committee”) has chosen you to be a participant in the Farmer Bros. Co. 2005 Incentive Compensation Plan (the “Plan”) for fiscal 2015. Your target award for fiscal 2015 is equal to ________% of your annual base salary (“Target Bonus Percentage”). If your base salary changes during the year, your target award will be the indicated percentage of twelve (12) times your average monthly base salary for fiscal 2015. Your target award was determined by the Committee based on your expected total compensation, job responsibilities, expected job performance, and the terms of your employment agreement[, as amended]. 
In general, your bonus for fiscal 2015 will be determined primarily by measuring the Company’s financial performance and your achievement of individual goals which the Committee has assigned to you. The method for determining your bonus is described below.

Company Financial Performance
 
In calculating your bonus under the Plan, Company financial performance will be weighted at 90%. Company financial performance will be gauged by the level of achievement of modified net income and modified operating cash flow, in each case as determined from the Company’s audited financial statements. “Modified net income” is defined as net income (GAAP) before taxes and excluding any gains or losses from sales of assets.  “Modified operating cash flow” is defined as net income from operations (GAAP) after taking into account adjustments for the following items: (i) depreciation and amortization, (ii) provision for doubtful accounts, (iii) changes in: (a) accounts and notes receivable, (b) inventories, (c) income tax receivables, (d) prepaid expenses, (e) other assets, (f) accounts payable, and (g) accrued payroll, expenses and other current liabilities. Subject to the Committee’s discretion under the Plan, threshold modified net income equal to no less than $XXX million must be achieved in fiscal 2015 to earn any bonus payout under the Plan.  Assuming this threshold is reached, then a percentage of achievement ranging from 90% to 200% will be assigned for each of modified net income and modified operating cash flow, respectively, in proportion to the level of modified net income and modified operating cash flow, respectively, achieved in relation to the targets for such amounts for fiscal 2015.  Target modified net income for fiscal 2015 is $XXX million and target modified operating cash flow for fiscal 2015 is $XXX million.    Following that calculation of achievement for each of modified net income and operating cash flow, an overall Company financial performance achievement percentage will be calculated by giving modified net income percentage achievement 80% weight and giving modified operating cash flow 20% weight.  This resulting figure is the “Company Overall Achievement Percentage.”
 
Individual Performance

In calculating your bonus under the Plan, individual performance will be weighted at 10%. The Committee has approved the following items for fiscal 2015, as a non-exclusive list of individual goals for the fiscal year, including the proposed weighting to be considered for such individual goals:______________________________________________________________________________ ____________________________________________________________________________________________________________
____________________________________________________________________________________________________________

The foregoing goals are not an exclusive list. The Committee may take the foregoing into account as well as other factors and give each of them weight (or ignore them as factors) as it shall reasonably determine and will consider the proposed weight given to each of those listed goals.  After the end of the fiscal year, the Committee will evaluate those listed goals as well as other reasonable factors it considers to be germane to your performance for the year and assign a value of up to 10% with respect to your level of overall individual performance.  Your individual performance achievement will then be multiplied by the Company Overall Achievement Percentage, and the resulting figure is the “Individual Overall Achievement Percentage.” 

Bonus Determination

After the end of the fiscal year and promptly upon availability of the Company’s audited financial statements, the Committee will determine the Company’s level of modified net income and modified operating cash flow and the resulting Company Overall Achievement Percentage, as set forth above.

At such time, the Committee will also determine your percentage of individual performance achievement and resulting Individual Overall Achievement Percentage.

The Company Overall Achievement Percentage and the Individual Overall Achievement Percentage will be added together and multiplied by your Target Bonus Percentage. The product will be further multiplied by your fiscal 2015 annual base salary. The result will be the amount of your preliminary bonus award for fiscal 2015. The preliminary bonus award is subject to adjustment, upward or downward, by the Compensation Committee in its discretion. The Committee also has the discretion to alter the Company 

financial performance measures and individual goals during the fiscal year and to decline to award any bonus should the Committee determine such actions to be warranted by a change in circumstances. Accordingly, no bonus is earned unless and until an award is actually made by the Committee after fiscal year-end.

Example

Assume that your annual base salary for fiscal 2015 is $250,000 and did not change during the year, your target award is 40% of your annual base salary and that Company financial performance is to be weighted at 90% and individual goals are to be weighted at 10%. Assume that the percentage of achievement of the modified net income Company financial performance measure is 150% and the percentage of achievement of the modified operating cash flow Company financial performance measure is 120%, thus the Company Overall Achievement Percentage would be (150% x 80%) + (120% x 20%)= 144%. Assume, further, that the Committee determined the level of achievement for your individual performance to be 8%, which when multiplied by the Company Overall Achievement Percentage of 144% would make your Individual Overall Achievement Percentage become (144% x 8%)=11.5%, your bonus would be determined as follows: (90% x 144%) + (11.5%) = 141.1%.

The preliminary bonus is the product of your total achievement percentage multiplied by your Target Bonus Percentage multiplied by your base salary. In the above example, the preliminary bonus amount is $141,100 (141.1%  x 40% x $250,000). The Committee has discretion to change your preliminary bonus amount to arrive at your final bonus amount. However, absent extraordinary circumstances, the Committee does not intend to exercise discretion to award bonuses if modified net income is not achieved at a level of at least 90% of the target established by the Committee.

The Committee intends that the bonus structure described above will encourage teamwork among key management personnel as well as individual achievement. The Company and individual goals are not intended to be easily achievable. The Committee can determine to pay awards on a current or deferred basis, or partly on each.  Please promptly contact the Committee in the event circumstances dictate re-examination of goals assigned by the Committee.

All awards are governed by the Plan provisions which control any inconsistency with this letter. 

Please let me know if you have any questions. We wish you great success for fiscal 2015!
 
Very truly yours,

Jeanne Farmer Grossman
Compensation Committee ChairExhibit 10.19

 

OPTION AGREEMENT

TO

PURCHASE REAL PROPERTY

 

This Option
Agreement to Purchase Real Property ("Agreement") is made and entered by and between Ting Ming Henry Ng, a single man,
and Von Verde Development, LLC, an Arizona limited liability company (collectively the "Owners") and Solar Wind Energy
Tower, Inc., a Nevada corporation ("Solar Wind").

RECITALS:

 

Whereas, Owners
are the owners of all the parcels of real property comprising Section 13, Township 11 South, Range 24 West, Gila and Salt River
Base and Meridian, Official Records of Yuma County, Arizona, consisting of approximately 640 acres (the "Property");

 

Whereas, Solar
Wind desires to procure an Option from the Owners to acquire the Property for the development of an alternate energy project (the
"Project"); and

 

Whereas, the
Owners desire to provide Solar Wind with an Option to acquire the Property.

 

Now, therefore
in consideration of the mutual covenants and conditions contained herein, the parties agree as follows:

 

1.       Incorporation
of Recitals. The parties agree the Recitals set forth above are accurate and are hereby incorporated as part of this Agreement.

 

 

    	1

    	 

    

 

2.       Option.
For good and valuable consideration, the Owners hereby grant Solar Wind an exclusive and irrevocable option ("Option")
to acquire the Property through December 14, 2014 ("Term") for the purchase price of $46,500.00 per acre ("Purchase
Price"). The Owners agree Solar Wind shall have the right to extend the Term for periods of 6 months, but no longer than
June 30, 2017, upon delivering written notice to the Owners prior to to the expiration of the Term, or extended Term, along with
the payment of a non-refundable extension fee of $250,000.00 for each 6 month extension. The Owners and Solar Wind agree the non-refundable
option and extension fees shall not be credited towards the Purchase Price upon the Close of Escrow.

 

3.       Commission.
The Owners agree upon the Close of Escrow, Shadle & Sanchez Realty Investments, LLC shall receive from the proceeds a
flat fee commission of $300,000.

 

4.       No
Liens or Encumbrances. The Owners agree to convey the Property to Solar Wind free and clear of any and all liens or encumbrances
against Property. The Owners agree any liens or encumbrances secured by the Property shall be satisfied upon the Close of Escrow
from the funds allocated and payable to the Owners.

 

5.       Owners
Cooperation with Due Diligence. The Owners understand and acknowledge the Project is very complex requiring, but not limited
to, appropriate access, inspections, testing, feasibility studies, surveying, engineering, governmental review, permits and approvals
and other feasibility studies (collectively "Due Diligence") as deemed necessary by Solar Wind. The Owners agree during
the Term, or any extension of the Term, Solar Wind and its officers, employees, contractors, agents and representatives shall
have access to the Property upon no less than 48 hours advance notice for the purposes of conducting Due Diligence. Solar Wind
agrees to notify and coordinate with the Owners the Due Diligence so as to not interfere with the Owner's operations upon the
Property. The Owners fully agree to cooperate with Solar Wind's Due Diligence of the Property for the Project. Solar Wind agrees
to defend, harmless and indemnify the Owners for any claim, loss or demand by Solar Wind, or any other person or entity, relating
to Solar Wind's Due Diligence.

    	2

    	 

    

6.       Zoning
and Development Agreement. The Owners acknowledge and understand Solar Wind will require Heavy Industrial zoning of the
Property from the City of San Luis, Arizona and a Development Agreement with the City of San Luis, Arizona to obtain development
rights, municipal services and other necessary entitlements for the Project. The Owners represent the Property is presently annexed
into the City of San Luis, Arizona and zoned for Employment/Heavy Industrial. The Owners agree to fully cooperate with Solar Wind's
efforts to obtain the Heavy Industrial zoning and a Development Agreement from the City of San Luis, Arizona. The Owners agree
to develop the Property in accordance with either the City of San Luis, Arizona Development Standards or as otherwise approved
by the City of San Luis, Arizona.

 

7.       Leases.The
Owners represent and agree there are no existing ;eases for any portion of the Property. The Owners agree if the Property, or
any portion of the Property, is leased during the Term or any extension of the Term, such Lease shall refer to this Agreement
and shall provide the Owners the right to terminate such Lease upon no more than 60 days advance written notice without penalty
or compensation to the lessee.

 

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8.       Exercise of Option. Solar Wind shall only exercise this Option by delivering to the Owners a timely written notice
that Solar Wind has elected to exercise the Option.

 

9.       Payment of
Purchase Price at Closing. Solar Wind shall have 90 days from delivery of written notice to the Owners of its election
to exercise the Option to close for the acquisition of the Property ("Close of Escrow") and to pay the Owners the Purchase
Price. The Close of Escrow shall occur through Citizens Title & Trust, or such other title/escrow agent as agreed upon by the
Owners and Solar Wind. The Owners agree to provide at their cost Solar Wind with a standard owner's title policy of insurance upon
the Closing. Solar Wind may procure at its cost any extended title policy or endorsements as deemed necessary by Solar Wind. All
taxes and assessments shall be pro-rated as of the Closing. Each party shall pay one-half the standard customary closing costs
for a commercial real estate transaction in Yuma County, Arizona.

 

10.      Closing Documents.
The Owners and Solar Wind agree upon the Closing to execute all the necessary documentation required by either party to convey
the Property to Solar Wind.

 

11.      Assignment.
The Owners agree Solar Wind may assign this Option to another person or entity upon written notice to the Owners.

 

12.      Termination
of Option. This Option shall automatically terminate on December 14, 2014, unless otherwise extended by Solar Wind pursuant
to Section 2.

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13.      Notices.
Any notice as required by this Option shall be in writing and shall be given by air courier service overnight delivery or
by deposit in the United States mail, certified mail, return receipt requested, postage prepaid. Notices shall be delivered or
addressed to the Owners and Solar Wind at the following addresses, or at such other address as party may designate to the other
in writing:

 

Von Verde Development, LLC

Attn: Eddie Loo

10602 Camino Del Sol

Yuma, Arizona 85367

 

Ting Ming Henry Ng

c/o Eddie Loo

10602 Camino Del Sol

Yuma, Arizona 85367

 

Solar Wind

Attn: Ronald W. Pickett

1997 Annapolis Exchange Parkway, Suite 300

Annapolis, Maryland 21401

 

The effective date of a notice shall be the
date of delivery of the notice to an air courier service for overnight delivery or the deposit of the notice in the United States
mail, certified mail, return receipt requested.

 

14.      Recording.
Either party may elect to record an original of this Option Agreement and shall provide the other party with a recorded copy of
the Option Agreement.

 

15.      Attorneys
Fees. If any party commences an action to enforce any term or condition of this Option, the prevailing party to such action
shall be entitled to recover a reasonable additional sum as and for its attorney's fees and costs, said sum to be fixed by a court
of competent jurisdiction.

 

16.      Governing
Law. This Option shall be interpreted under the laws of the State of Arizona.

 

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17.      Jurisdiction
and Venue. Any action to enforce or interpret any provision of this Option shall be commenced and completed in the Superior
Court of the State of Arizona in and for the County of Yuma and not elsewhere. Each party specifically submits themselves to the
jurisdiction to said Court and waives any objection to venue.

 

18.      Entire
Agreement. This document constitutes the entire agreement between the parties with respect to Property and may not be
amended or otherwise modified except by the express written agreement of the parties.

 

19.       Authorization.
The undersigned agree the individuals signing this Agreement have the necessary authorization to sign on behalf the respective
entities and are not required to obtain the consent or authorization of any other person or entity to execute this Agreement or
to sell the Property to Solar Wind, including any financial institution or lender.

 

20.      Counterpart
Signatures. This Agreement may be executed in any number of counterparts all of which shall be deemed to constitute one
and the same instrument, and each of which shall be deemed an original hereof.

 

	/s/ Ting Ming Henry Ng (by Ellie Loo Power of Attorney)	4/11/2014
	Ting Ming Henry Ng	Date
	 	 
	Von Verde Development, LLC	4/11/2014
	 	Date
	By: /s/ Eddie Loo	 
	Its: Manager	 
	 	 
	Solar Wind Energy Tower, Inc.	 
	 	 
	By: /s/ Ronald W. Pickett	4/12/2014
	Ronald W. Pickett, CEO	Date

 

 

    	6

    	 

    

 

	STATE OF ARIZONA	}
	 	} SS.
	County of YUMA	}

 

 

Subscribed to and sworn before me this 11th day of April, 2014 by Eddie Loo the duly authorized power of
attorney or attorney in face for Ting Ming Henry Ng

 

	 	/s/ Samantha C. Vaughan
	 	Notary Public
	 	[seal]

 

 

My commission expires:

 

12/18/15

 

 

	STATE OF ARIZONA	}
	 	} SS.
	County of YUMA	}

 

 

Subscribed to and sworn before me this 11th day of April, 2014 by as Manager of Von Verde Development,LLC/

 

	 	/s/ Samantha C. Vaughan
	 	Notary Public
	 	[seal]

 

 

My commission expires:

 

12/18/15

 

 

 

	STATE OF NORTH CAROLINA	}
	 	} SS.
	County of New Hanover	}

 

 

Subscribed to and sworn before me this 12th day of April, 2014 by Ronald W. Pickett, CEO of Solar Wind
Energy Yower, Inc.

 

	 	/s/ D/Jarvis Jamall Poole
	 	Notary Public
	 	[seal]

 

 

My commission expires:

 

June 20, 2019

 

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	RECORDING
REQUESTED BY

                            Citizens Title & Trust

AND WHEN RECORDED MAIL TO:

 

 

 

 

 

 

 

 

 

 

ESCROW NO.: 12150138 - 015 - TOL

	 
	 	 

 

SPECIAL DURABLE POWER OF ATTORNEY

 

KNOW ALL MEN BY THESE PRESENTS:

 

That Ting Ming Henry Ng. hereby makes,
constitutes and appoints Eddie Loo my true and lawful agent for- me with all power and authority to act in my name, place
and stead, and for my use and benefit, in any way which I myself could do, if I were personally present, to sell, convey, mortgage
or otherwise encumber, transfer in trust, and to borrow money and execute and deliver notes therefor, and to loan money and receive
notes and security therefor as to the real property described on Exhibit -A" attached hereto and incorporated herein
by this reference.

 

In addition, my Agent is specifically authorized
to perform the following acts on his/her behalf only if my witness and I initial each specific act below.

 

(NOTICE: The Principal and the Witness
must write his or her initials in the corresponding blank space below with respect to each of the acts listed below for which
the Principal wants to give the Agent authority. If a blank space for any particularly-described art is NOT initialed. NO
AUTHORITY WILL BE GRANTED for matters that are included in that section.)

 

	
        _______

        Principal
	 	
        _____

        Witness
	 	Sell, convey, or exchange the above-described property,
	 	 	 	 	 
	
        _______

        Principal
	 	
        _____

        Witness
	 	Borrow money and execute and deliver notes therefor: mortgage or otherwise encumber the property to secure payment therefor: loan money and receive security therefor.
	 	 	 	 	 
	
        _______

        Principal
	 	
        _____

        Witness
	 	Accept payment of a commission. fee or other compensation in connection with the above-described real property.
	 	 	 	 	 
	
        _______

        Principal
	 	
        _____

        Witness
	 	Accept payment of all or any portion of the proceeds from the sale of the above-described property.
	 	 	 	 	 
	
        _______

        Principal
	 	
        _____

        Witness
	 	Acquire any interest in the above-described real property.
	
        _______

        Principal
	 	
        _____

        Witness
	 	Accept the conveyance or beneficial interest thereof as community property with right of survivorship or as joint tenants with right of survivorship with any others. including my said Agent as one of the joint tenants.
	 	 	 	 	 
	
        _______

        Principal
	 	
        _____

        Witness
	 	Other:

 

 

 

This
power shall not be affected by subsequent disability or incapacity of the principal or by lapse of time. All acts done by my Agent
pursuant to this power during any period of disability or incapacity or uncertainty as to whether I am dead or alive shall have
the same effect and inure to the benefit of and bind me, my heirs, devisees and personal representatives as if I were alive, competent
and not disabled.

 

I hereby ratify all that my said Agent shall lawfully do or cause
to be done pursuant to this power.

 

Page 1 of 2

    	 

    	 

    

 

NOTICE: -THIS IS AN IMPORTANT DOCUMENT. BEFORE
SIGNING THIS DOCUMENT, YOU SHOULD KNOW THESE IMPORTANT FACTS. THE PUPOSE OF THIS POWER OF ATTORNEY IS TO GIVE THE PERSON WHOM YOU
DESIGNATE YOUR "AGENT BROAD POWERS TO HANDLE YOUR PROPERTY, WHICH MAY INCLUDE POWERS TO PLEDGE, SELL OR OTHERWISE DISPOSE
OF REAL PROPERTY WITHOUT ADVANCE NOTICE TO YOU OR APPROVAL BY YOU. THESE POWERS WILL EXIST EVEN AFTER YOU BECOME DISABLED, INCAPACITATED
OR INCOMPETENT. IF THERE IS ANYTHING ABOUT THIS FORM THAT YOU DO NOT UNDERSTAND, YOU SHOULD ASK A LAWYER TO EXPLAIN IT 10 YOU,
YOU MAY REVOKE THIS POWER OF ATTORNEY IF YOU LATER WISH TO DO SO.

 

I, Ting Ming Henry Ng. the Principal,
sign my name to this power of attorney this October 19, 2012, and being first duly sworn, do declare to the undersigned
authority that I sign and execute this instrument as my power of attorney and that I sign it willingly, or willingly direct another
to sign for me, that I execute it as my free and voluntary act for the purposes expressed in the power of attorney, and
that 1 am eighteen years of age or older, of sound mind and under no constraint or undue influence.

 

I, J. Tammy L. Shaddy, the witness, sign my name to the foregoing power of attorney being first
duly sworn and do declare to the undersigned authority that the principal signs and executes this instrument as his/her power
of attorney and that he/she signs it willingly, or willingly directs another to sign for him/her, and that I, in the presence
and hearing of the principal, sign this power of attorney as witness to the principal's signing and that to the best of my
knowledge the principal is eighteen years of age or older, of sound mind and under no constraint or undue influence.

 

/s/ Tammy Shaddy

 

TAMMY L. SHADDY, Witness

(Print Name)

 

	STATE OF ARIZONA	}
	 	} SS.
	County of YUMA	}

 

 

This instrument was subscribed, sworn to and acknowledged

before me by Ting Ming Henry Ng, the Principal,
this October 19, 2012.

 

/s/ Tammy J. Lewis

Notary Public

 

My commission will expire 8/11/15

 

 

	STATE OF ARIZONA	}
	 	} SS.
	County of YUMA	}

 

 

This instrument was subscribed, sworn to and acknowledged

before me by Tammy L. Shaddy, the Witness, this October 19, 2012.

 

/s/ Tammy J. Lewis

Notary Public

 

My commission will expire 8/11/15

 

 

Page 2 of 2

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