Document:

AdoptionAgreement

Exhibit 10.2
ADOPTION AGREEMENT                        
                                            

ADOPTION AGREEMENT
1.01    PREAMBLE 

By the execution of this Adoption Agreement the Plan Sponsor 
hereby [complete (a) or (b)]

		
	(a)
	adopts a new plan as of May 1, 2013       [month, day, year]

		
	(b)
	amends and restates its existing plan as of                      [month, day, year] which is the Amendment Restatement Date.  Except as otherwise provided in Appendix A, all amounts deferred under the Plan prior to the Amendment Restatement Date shall be governed by the terms of the Plan as in effect on the day before the Amendment Restatement Date. 

Original Effective Date:                      [month, day, year]

Pre-409A Grandfathering:     Yes     No 

		
	1.02
	PLAN

Plan Name: U.S. Concrete, Inc. Deferred Compensation Plan 

Plan Year:  December 31            ____________

		
	1.03
	PLAN SPONSOR

	
		
	Name:
	U.S. Concrete, Inc.

	Address:
	331 North Main Street, Euless, TX  76039

	Phone # :
	(821935)

	EIN:
	     

	Fiscal Yr:
	     

Is stock of the Plan Sponsor, any Employer or any Related Employer publicly traded on an established securities market?

	
		
	Yes
	No

- 1 -

		
	1.04
	EMPLOYER

The following entities have been authorized by the Plan Sponsor to participate in and have adopted the Plan (insert “Not Applicable” if none have been authorized):

Entity                        Publicly Traded on Est. Securities Market

	
					
	Not Applicable
	 
	Yes
	 
	No

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

		
	1.05
	ADMINISTRATOR

The Plan Sponsor has designated the following party or parties to be responsible for the administration of the Plan:

	
		
	Name:
	U.S. Concrete, Inc. 401(k) Committee

	Address:
	331 North Main Street, Euless, TX  76039

		
	Note:
	The Administrator is the person or persons designated by the Plan Sponsor to be responsible for the administration of the Plan.  Neither Fidelity Employer Services Company nor any other Fidelity affiliate can be the Administrator.

		
	1.06
	KEY EMPLOYEE DETERMINATION DATES

The Employer has designated                      as the Identification Date for purposes of determining Key Employees.

In the absence of a designation, the Identification Date is December 31.

The Employer has designated                      as the effective date for purposes of applying the six month delay in distributions to Key Employees.

In the absence of a designation, the effective date is the first day of the fourth month following the Identification Date.

- 2 -

		
	2.01
	PARTICIPATION

(a)        Employees [complete (i), (ii) or (iii)] 

(i)        Eligible Employees are selected by the Employer.

(ii)        Eligible Employees are those employees of the Employer who satisfy the following criteria:

	
	
	All employees with a pay grade of 16 or above

	     

	     

	     

	     

(iii)        Employees are not eligible to participate.

(b)        Directors [complete (i), (ii) or (iii)]

(i)        All Directors are eligible to participate.

(ii)        Only Directors selected by the Employer are eligible to participate.

(iii)        Directors are not eligible to participate.

- 3 -

		
	3.01
	COMPENSATION

For purposes of determining Participant contributions under Article 4 and Employer contributions under Article 5, Compensation shall be defined in the following manner [complete (a) or (b) and select (c) and/or (d), if applicable]:

	
			
	(a)
	 
	Compensation is defined as:

	 
	 
	Base compensation and bonus

	 
	 
	     

	 
	 
	     

	 
	 
	     

	 
	 
	     

	 
	 
	     

	 
	 
	 

	(b)
	 
	Compensation as defined in       [insert name of qualified plan] without regard to the limitation in Section 401(a)(17) of the Code for such Plan Year.

	 
	 
	 

	(c)
	 
	Director Compensation is defined as:

	 
	 
	     

	 
	 
	     

	 
	 
	     

	 
	 
	 

	(d)
	 
	Compensation shall, for all Plan purposes, be limited to $     .

	 
	 
	 

	(e)
	 
	Not Applicable.

		
	3.02
	BONUSES

Compensation, as defined in Section 3.01 of the Adoption Agreement, includes the following type of bonuses that will be the subject of a separate deferral election:

	
						
	Type
	Will be treated as Performance
Based Compensation

	 
	 

	 
	 
	Yes
	 
	No
	 

	Annual Bonus
	 
	 
	 
	 
	 

	     
	 
	 
	 
	 
	 

	     
	 
	 
	 
	 
	 

	     
	 
	 
	 
	 
	 

	     
	 
	 
	 
	 
	 

	
		
	 
	Not Applicable.

- 4 -

		
	4.01
	PARTICIPANT CONTRIBUTIONS

If Participant contributions are permitted, complete (a), (b), and (c).  Otherwise 
complete (d).

		
	(a)
	Amount of Deferrals

A Participant may elect within the period specified in Section 4.01(b) of the Adoption Agreement to defer the following amounts of remuneration.  For each type of remuneration listed, complete “dollar amount” and / or “percentage amount”.

		
	(i)
	Compensation Other than Bonuses [do not complete if you complete (iii)]

        
	
						
	Type of Remuneration
	Dollar Amount
	% Amount
	Increment

	Min
	Max
	Min
	Max

	(a)    Base Compensation
	 
	 
	1%
	75%
	1%

	(b)    
	 
	 
	 
	 
	 

	(c)    
	 
	 
	 
	 
	 

Note:  The increment is required to determine the permissible deferral amounts.  For example, a minimum of 0% and maximum of 20% with a 5% increment would allow an individual to defer 0%, 5%, 10%, 15% or 20%.

		
	(ii)
	Bonuses [do not complete if you complete (iii)]

	
						
	Type of Bonus
	Dollar Amount
	% Amount
	Increment

	Min
	Max
	Min
	Max

	(a)   Annual Bonus
	 
	 
	1%
	75%
	1%

	(b)   
	 
	 
	 
	 
	 

	(c)   
	 
	 
	 
	 
	 

		
	(iii)
	Compensation [do not complete if you completed (i) and (ii)]

	
					
	Dollar Amount
	% Amount
	Increment

	Min
	Max
	Min
	Max

	 
	 
	 
	 
	 

		
	(iv)
	Director Compensation

- 5 -

	
						
	Type of Compensation
	Dollar Amount
	% Amount
	Increment

	Min
	Max
	Min
	Max

	Annual Retainer
	 
	 
	 
	 
	 

	Meeting Fees
	 
	 
	 
	 
	 

	Other:
	 
	 
	 
	 
	 

	Other:
	 
	 
	 
	 
	 

- 6 -

		
	(b)
	Election Period

		
	(i)
	Performance Based Compensation

A special election period 

	
					
	 
	Does
	 
	 
	Does Not

apply to each eligible type of performance based compensation referenced in Section 3.02 of the Adoption Agreement.

The special election period, if applicable, will be determined by the Employer.

		
	(ii)
	Newly Eligible Participants

An employee who is classified or designated as an Eligible Employee during a Plan Year 

	
					
	 
	May
	 
	 
	May Not

elect to defer Compensation earned during the remainder of the Plan Year by completing a deferral agreement within the 30 day period beginning on the date he is eligible to participate in the Plan.

		
	(c)
	Revocation of Deferral Agreement

A Participant’s deferral agreement

	
		
	 
	Will

	 
	Will Not

be cancelled for the remainder of any Plan Year during which he receives a hardship distribution of elective deferrals from a qualified cash or deferred arrangement maintained by the Employer to the extent necessary to satisfy the requirements of Reg. Sec. 1.401(k)-1(d)(3).  If cancellation occurs, the Participant may resume participation in accordance with Article 4 of the Plan.

		
	(d)
	No Participant Contributions

Participant contributions are not permitted under the Plan.

- 7 -

		
	5.01
	EMPLOYER CONTRIBUTIONS

If Employer contributions are permitted, complete (a) and/or (b).  Otherwise 
complete (c).

		
	(a)
	Matching Contributions

		
	(i)
	Amount

For each Plan Year, the Employer shall make a Matching Contribution on behalf of each Participant who defers Compensation for the Plan Year and satisfies the requirements of Section 5.01(a)(ii) of the Adoption Agreement equal to [complete the ones that are applicable]:

		
	(A)
	          [insert percentage] of the Compensation the Participant has elected to defer for the Plan Year

		
	(B)
	    An amount determined by the Employer in its sole discretion 

		
	(C)
	    Matching Contributions for each Participant shall be limited to $      and/or      % of Compensation.

		
	(D)
	    Other:    

                         
                         

		
	(E)
	    Not Applicable [Proceed to Section 5.01(b)] 

		
	(ii)
	Eligibility for Matching Contribution

A Participant who defers Compensation for the Plan Year shall receive an allocation of Matching Contributions determined in accordance with Section 5.01(a)(i) provided he satisfies the following requirements [complete the ones that are applicable]:

	
			
	(A)    
	Describe requirements:
	 

	 
	                    
	 

	 
	                    
	 

	 
	 
	 

	(B)    
	Is selected by the Employer in its sole discretion to receive an allocation of Matching Contributions
	 

	 
	 
	 

	(C)    
	No requirements
	 

- 8 -

		
	(iii)
	 Time of Allocation

Matching Contributions, if made, shall be treated as allocated [select one]:

	
		
	(A)    
	As of the last day of the Plan Year

	 
	 

	(B)    
	At such times as the Employer shall determine in it sole discretion

	 
	 

	(C)    
	At the time the Compensation on account of which the Matching Contribution is being made would otherwise have been paid to the Participant

	 
	 

	(D)    

	Other:
                    

	 
	                    

		
	(b)
	Other Contributions

    
		
	(i)
	Amount

The Employer shall make a contribution on behalf of each Participant who satisfies the requirements of Section 5.01(b)(ii) equal to [complete the ones that are applicable]:

	
		
	(A)    
	An amount equal to       [insert number] % of the Participant’s Compensation

	 
	 

	(B)    
	An amount determined by the Employer in its sole discretion

	 
	 

	(C)    
	Contributions for each Participant shall be limited to $           

	 
	 

	(D)    
	Other:
                    

	 
	                    

	 
	                    

	 
	 

	(E)    
	Not Applicable [Proceed to Section 6.01]

	 
	 

- 9 -

		
	(ii)
	 Eligibility for Other Contributions

A Participant shall receive an allocation of other Employer contributions determined in accordance with Section 5.01(b)(i) for the Plan Year if he satisfies the following requirements [complete the one that is applicable]:

	
		
	(A)    
	Describe requirements:

	 
	                    

	 
	                    

	 
	 

	(B)    
	Is selected by the Employer in its sole discretion to receive an allocation of other Employer contributions

	 
	 

	(C)    
	No requirements

		
	(iii)
	Time of Allocation

Employer contributions, if made, shall be treated as allocated [select one]:

	
		
	(A)    
	As of the last day of the Plan Year

	 
	 

	(B)    
	At such time or times as the Employer shall determine in its sole discretion

	 
	 

	(C)    

	Other:
                    

	 
	                    

	 
	                    

		
	(c)
	No Employer Contributions

Employer contributions are not permitted under the Plan.

- 10 -

		
	6.01
	DISTRIBUTIONS

The timing and form of payment of distributions made from the Participant’s vested Account shall be made in accordance with the elections made in this Section 6.01 of the Adoption Agreement except when Section 9.6 of the Plan requires a six month delay for certain distributions to Key Employees of publicly traded companies.  

		
	(a)
	Timing of Distributions

	
			
	(i)
	All distributions shall commence in accordance with the following [choose one]:

	 
	(A)   
	As soon as administratively feasible following the distribution event but in no event later than the time prescribed by Treas. Reg. Sec. 1.409A-3(d).

	 
	(B)   
	Monthly on specified day       [insert day]

	 
	(C)   
	Annually on specified month and day       [insert month and day]

	 
	(D)   
	Calendar quarter on specified month and day [     month of quarter (insert 1,2 or 3);    __  day (insert day)]

	
			
	(ii)
	The timing of distributions as determined in Section 6.01(a)(i) shall be modified by the adoption of:

	 
	(A)   
	Event Delay – Distribution events other than those based on Specified Date or Specified Age will be treated as not having occurred for six (6) months [insert number of months].

	 
	(B)   
	Hold Until Next Year – Distribution events other than those based on Specified Date or Specified Age will be treated as not having occurred for twelve months from the date of the event if payment pursuant to Section 6.01(a)(i) will thereby occur in the next calendar year or on the first payment date in the next calendar year in all other cases.

	 
	(C)   
	Immediate Processing – The timing method selected by the Plan Sponsor under Section 6.01(a)(i) shall be overridden for the following distribution events [insert events]:

	 
	                 

	 
	                 

	 
	 
	 

	 
	(D)   
	Not applicable.

- 11 -

		
	(b)
	Distribution Events

Participants may elect the following payment events and the associated form or forms of payment. If multiple events are selected, the earliest to occur will trigger payment. For installments, insert the range of available periods (e.g., 5-15) or insert the periods available (e.g., 5,7,9).

	
					
	

	 
	Lump Sum
	Installments

	 
	 
	 
	 

	(i)    
	Specified Date
	     
	      years

	 
	 

	(ii)    
	Specified Age
	     
	      years

	 
	 

	(iii)    
	Separation from Service
	_____
	      years

	 
	 

	(iv)    
	Separation from Service plus 6 months
	     
	      years

	 
	 

	(v)    
	Separation from Service plus       months [not to exceed       months]
	     
	      years

	 
	 

	(vi)    
	Retirement
	     
	      years

	 
	 

	(vii)    
	Retirement plus 6 months
	     
	      years

	 
	 

	(viii)    
	Retirement plus       months [not to exceed       months]
	     
	      years

	 
	 

	 
	 

	(ix)
	Disability
	     
	      years

	 
	 

	(x)
	Death
	     
	      years

	 
	 

	(xi)
	Change in Control
	     
	      years

The minimum deferral period for Specified Date or Specified Age event shall be       years. 
 
Installments may be paid [select each that applies] 

	
		
	 
	Monthly

	 
	Quarterly

	 
	Annually

		
	(c)
	Specified Date and Specified Age elections may not extend beyond age Not Applicable [insert age or “Not Applicable” if no maximum age applies]. 

- 12 -

		
	(d)
	Payment Election Override 
 
Payment of the remaining vested balance of the Participant’s Account will automatically occur at the time specified in Section 6.01(a) of the Adoption Agreement in the form indicated upon the earliest to occur of the following events [check each event that applies and for each event include only a single form of payment]:  

	
						
	 
	EVENTS
	FORM OF PAYMENT

	 
	Separation from Service
	X
	Lump sum
	 
	Installments

	 
	Separation from 
Service before Retirement
	 
	Lump sum
	 
	Installments

	 
	Death
	X
	Lump sum
	 
	Installments

	 
	Disability
	X
	Lump sum
	 
	Installments

	 
	Not Applicable
	 
	 
	 
	 

		
	(e)
	Involuntary Cashouts 

	
		
	 
	If the Participant’s vested Account at the time of his Separation from Service does not exceed $      distribution of the vested Account shall automatically be made in the form of a single lump sum in accordance with Section 9.5 of the Plan.

	 
	There are no involuntary cashouts.

		
	(f)
	Retirement 

	
		
	 
	Retirement shall be defined as a Separation from Service that occurs on or after the Participant [insert description of requirements]:

	 
	        

	 
	        

	 
	No special definition of Retirement applies.

- 13 -

		
	(g)
	Distribution Election Change 
 
A Participant

	
		
	 
	Shall

	 
	Shall Not

be permitted to modify a scheduled distribution date and/or payment option in accordance with Section 9.2 of the Plan.

A Participant shall generally be permitted to elect such modification       number of times.

Administratively, allowable distribution events will be modified to reflect all options necessary to fulfill the distribution change election provision.

		
	(h)
	Frequency of Elections

The Plan Sponsor

	
		
	 
	Has

	 
	Has Not

Elected to permit annual elections of a time and form of payment for amounts deferred under the Plan.  If a single election of a time and/or form of payment is required, the Participant will make such election at the time he first completes a deferral agreement which, in all cases, will be no later than the time required by Reg. Sec. 1.409A-2.

- 14 -

		
	7.01
	VESTING

		
	(a)
	Matching Contributions 
 
The Participant’s vested interest in the amount credited to his Account attributable to Matching Contributions shall be based on the following schedule:

	
								
	 
	Years of Service
	Vesting %
	 
	 

	 
	0
	     
	(insert ‘100’ if there is immediate vesting)
	 

	 
	1
	     
	 
	 

	 
	2
	     
	 
	 

	 
	3
	     
	 
	 

	 
	4
	     
	 
	 

	 
	5
	     
	 
	 

	 
	6
	     
	 
	 

	 
	7
	     
	 
	 

	 
	8
	     
	 
	 

	 
	9
	     
	 
	 

	 
	 
	 
	 
	 

	

	Other:
                 
	 
	 

	 
	                 
	 
	 

	 
	 
	 
	 

	

	Class year vesting applies.
            
	 
	 
	 

	 
	 
	 
	 
	 

	 
	Not applicable.
	 
	 
	 

		
	(b)
	Other Employer Contributions 
 
The Participant’s vested interest in the amount credited to his Account attributable to Employer contributions other than Matching Contributions shall be based on the following schedule:

- 15 -

	
						
	 
	Years of Service
	Vesting %
	 

	 
	0
	     
	(insert ‘100’ if there is immediate vesting)

	 
	1
	     
	 

	 
	2
	     
	 

	 
	3
	     
	 

	 
	4
	     
	 

	 
	5
	     
	 

	 
	6
	     
	 

	 
	7
	     
	 

	 
	8
	     
	 

	 
	9
	     
	 

	 
	 
	 
	 

	

	Other:
                 
	 

	 
	                 
	 

	 
	 
	 

	

	Class year vesting applies.
            
	 

	 
	 
	 
	 

	 
	Not applicable.
	 
	 

- 16 -

		
	(c)
	Acceleration of Vesting 

A Participant’s vested interest in his Account will automatically be 100% upon the occurrence of the following events: [select the ones that are applicable]:

	
		
	(i)    
	Death

	 
	 

	(ii)    
	Disability

	 
	 

	(iii)    
	Change in Control

	 
	 

	(iv)    
	Eligibility for Retirement

	 
	 

	(v)    
	Other:                       

	 
	                       

	 
	 

	(vi)    
	Not applicable.

		
	(d)
	Years of Service 

		
	(i)
	A Participant’s Years of Service shall include all service performed for the Employer and 

	
		
	 
	Shall

	 
	Shall Not

include service performed for the Related Employer. 

		
	(ii)
	Years of Service shall also include service performed for the following entities:

	
	
	     

	     

	     

	     

	     

		
	(iii)
	Years of Service shall be determined in accordance with (select one)

- 17 -

	
		
	(A)    
	The elapsed time method in Treas. Reg. Sec.  1.410(a)-7

	 
	 

	(B)    
	The general method in DOL Reg. Sec.  2530.200b-1 through b-4

	 
	 

	(C)    
	The Participant’s Years of Service credited under [insert name of plan]                 
                     

	 
	 

	(D)    
	Other:                         

	 
	                          

	 
	                          

		
	(iv)
	 Not applicable.

- 18 -

		
	8.01
	UNFORESEEABLE EMERGENCY

(a)    A withdrawal due to an Unforeseeable Emergency as defined in Section 2.24:

	
		
	 
	Will

	 
	Will Not [if Unforeseeable Emergency withdrawals are not permitted, proceed to Section 9.01]

be allowed.

		
	(b)
	Upon a withdrawal due to an Unforeseeable Emergency, a Participant’s deferral election for the remainder of the Plan Year:

	
		
	 
	Will

	 
	Will Not

be cancelled.  If cancellation occurs, the Participant may resume participation in accordance with Article 4 of the Plan.

- 19 -

		
	9.01
	INVESTMENT DECISIONS

Investment decisions regarding the hypothetical amounts credited to a Participant’s Account shall be made by [select one]:

	
		
	(a)   

	The Participant or his Beneficiary

	(b)   
	The Employer

- 20 -

		
	10.01
	TRUST 

The Employer [select one]:

	
		
	 
	Does

	 
	Does Not

intend to establish a rabbi trust as provided in Article 11 of the Plan.

- 21 -

		
	11.01
	TERMINATION UPON CHANGE IN CONTROL

The Plan Sponsor

	
		
	 
	Reserves

	 
	Does Not Reserve

the right to terminate the Plan and distribute all vested amounts credited to Participant Accounts upon a Change in Control as described in Section 9.7.

		
	11.02
	AUTOMATIC  DISTRIBUTION UPON CHANGE IN CONTROL

Distribution of the remaining vested balance of each Participant’s Account

	
		
	 
	Shall

	 
	Shall Not

automatically be paid as a lump sum payment upon the occurrence of a Change in     Control as provided in Section 9.7.

		
	11.03
	CHANGE IN CONTROL

A Change in Control for Plan purposes includes the following [select each definition that applies]:

		
	(a)
	A change in the ownership of the Employer as described in Section 9.7(c) of the Plan.

		
	(b)
	A change in the effective control of the Employer as described in Section 9.7(d) of the Plan.

		
	(c)
	A change in the ownership of a substantial portion of the assets of the Employer as described in Section 9.7(e) of the Plan.

		
	(d)
	Not Applicable.

- 22 -

		
	12.01
	GOVERNING STATE LAW

The laws of Texas shall apply in the administration of the Plan to the extent not preempted by ERISA.

- 23 -

EXECUTION PAGE

The Plan Sponsor has caused this Adoption Agreement to be executed this _______________ day of _________, 20_______.

	
		
	PLAN SPONSOR:
	 

	By:
	 

	Title:
	 

- 24 -

APPENDIX A 
SPECIAL EFFECTIVE DATES
Not Applicable

- 25 -Exhibit 4.1

GLOBAL EARTH ENERGY, INC.

EMPLOYEES, DIRECTORS, AND CONSULTANTS STOCK PLAN

FOR THE YEAR 2013

1.

Introduction.  This Plan shall be known as the “Global Earth Energy, Inc. Employees, Directors, and Consultants Stock Plan for the Year 2013” and is hereinafter referred to as the “Plan.”  The purposes of this Plan are to enable Global Earth Energy, Inc., a Nevada corporation (the “Company”), to promote the interests of the Company and its stockholders by attracting and retaining Employees, Directors, and Consultants capable of furthering the future success of the Company and by aligning their economic interests more closely with those of the Company’s stockholders, by paying their retainer or fees in the form of shares of the Company’s common stock, par value $0.001 per share (the “Common Stock”).

2.

Definitions.  The following terms shall have the meanings set forth below:

“Board” means the Board of Directors of the Company.

“Change of Control” has the meaning set forth in Paragraph 12(d) hereof.

“Code” means the Internal Revenue Code of 1986, as amended, and the rules and regulations thereunder.  References to any provision of the Code or rule or regulation thereunder shall be deemed to include any amended or successor provision, rule or regulation.

“Committee” means the committee that administers this Plan, as more fully defined in Paragraph 13 hereof.

“Common Stock” has the meaning set forth in Paragraph 1 hereof.

“Company” has the meaning set forth in Paragraph 1 hereof.

“Consultants” means the Company’s consultants and advisors only if: (i) they are natural persons; (ii) they provide bona fide services to the Company; and (iii) the services are not in connection with the offer or sale of securities in a capital-raising transaction, and do not directly or indirectly promote or maintain a market for the Company’s securities.

“Deferral Election” has the meaning set forth in Paragraph 6 hereof.

“Deferred Stock Account” means a bookkeeping account maintained by the Company for a Participant representing the Participant’s interest in the shares credited to such Deferred Stock Account pursuant to Paragraph 7 hereof.

“Delivery Date” has the meaning set forth in Paragraph 6 hereof.

“Director” means an individual who is a member of the Board of Directors of the Company.

“Dividend Equivalent” for a given dividend or other distribution means a number of shares of the Common Stock having a Fair Market Value, as of the record date for such dividend or distribution, equal to the amount of cash, plus the Fair Market Value on the date of distribution of any property, that is distributed with respect to one share of the Common Stock pursuant to such dividend or distribution; such Fair Market Value to be determined by the Committee in good faith.

“Effective Date” has the meaning set forth in Paragraph 3 hereof.

“Employee” means any officer or employee of the Company.

1

“Exchange Act” has the meaning set forth in Paragraph 12(d) hereof.

“Fair Market Value” means the mean between the highest and lowest reported sales prices of the Common Stock on the New York Stock Exchange Composite Tape or, if not listed on such exchange, on any other national securities exchange on which the Common Stock is listed or on The Nasdaq Stock Market, or, if not so listed on any other national securities exchange or The Nasdaq Stock Market, then the average of the bid price of the Common Stock during the last five trading days on the OTC Bulletin Board immediately preceding the last trading day prior to the date with respect to which the Fair Market Value is to be determined.  If the Common Stock is not then publicly traded, then the Fair Market Value of the Common Stock shall be the book value of the Company per share as determined on the last day of March, June, September, or December in any year closest to the date when the determination is to be made.  For the purpose of determining book value hereunder, book value shall be determined by adding as of the applicable date called for herein the capital, surplus, and undivided profits of the Company, and after having deducted any reserves theretofore established; the sum of these items shall be divided by the number of shares of the Common Stock outstanding as of said date, and the quotient thus obtained shall represent the book value of each share of the Common Stock of the Company.

“Participant” has the meaning set forth in Paragraph 4 hereof.

“Payment Time” means the time when a Stock Award is payable to a Participant pursuant to Paragraph 5 hereof (without regard to the effect of any Deferral Election).

“Stock Award” has the meaning set forth in Paragraph 5 hereof.

“Third Anniversary” has the meaning set forth in Paragraph 6 hereof.

3.

Effective Date of the Plan.  This Plan was adopted by the Board effective April 15, 2013 (the “Effective Date”).

4.

Eligibility.  Each individual who is an Employee, Director, or Consultant on the Effective Date and each individual who becomes an Employee, Director, or Consultant thereafter during the term of this Plan shall be a participant (the “Participant”) in this Plan, in each case during such period as such individual remains an Employee, Director, or Consultant of the Company or any of its subsidiaries.  Each credit of shares of the Common Stock pursuant to this Plan shall be evidenced by a written agreement duly executed and delivered by or on behalf of the Company and a Participant, if such an agreement is required by the Company to assure compliance with all applicable laws and regulations.

5.

Grants of Shares.  Commencing on the Effective Date, the amount of compensation or bonus for service to the Participants shall be payable in shares of the Common Stock (the “Stock Award”) pursuant to this Plan.  The deemed issuance price of shares of the Common Stock subject to each Stock Award shall not be less than 85 percent of the Fair Market Value of the Common Stock on the date of the grant.  In the case of any person who owns securities possessing more than ten percent of the combined voting power of all classes of securities of the issuer or its parent or subsidiaries possessing voting power, the deemed issuance price of shares of the Common Stock subject to each Stock Award shall be at least 100 percent of the Fair Market Value of the Common Stock on the date of the grant.

6.

Deferral Option.  From and after the Effective Date, a Participant may make an election (a “Deferral Election”) on an annual basis to defer delivery of the Stock Award specifying which one of the following ways the Stock Award is to be delivered (a) on the date which is three years after the Effective Date for which it was originally payable (the “Third Anniversary”), (b) on the date upon which the Participant ceases to be a Participant for any reason (the “Departure Date”) or (c) in five equal annual installments commencing on the Departure Date (the “Third Anniversary” and “Departure Date” each being referred to herein as a “Delivery Date”).  Such Deferral Election shall remain in effect for each Subsequent Year unless changed, provided that, any Deferral Election with respect to a particular Year may not be changed less than six months prior to the beginning of such Year, and provided, further, that no more than one Deferral Election or change thereof may be made in any Year.

2

Any Deferral Election and any change or revocation thereof shall be made by delivering written notice thereof to the Committee no later than six months prior to the beginning of the Year in which it is to be effected; provided that, with respect to the Year beginning on the Effective Date, any Deferral Election or revocation thereof must be delivered no later than the close of business on the 30th day after the Effective Date.

7.

Deferred Stock Accounts.  The Company shall maintain a Deferred Stock Account for each Participant who makes a Deferral Election to which shall be credited, as of the applicable Payment Time, the number of shares of the Common Stock payable pursuant to the Stock Award to which the Deferral Election relates.  So long as any amounts in such Deferred Stock Account have not been delivered to the Participant under Paragraph 8 hereof, each Deferred Stock Account shall be credited as of the payment date for any dividend paid or other distribution made with respect to the Common Stock, with a number of shares of the Common Stock equal to (a) the number of shares of the Common Stock shown in such Deferred Stock Account on the record date for such dividend or distribution multiplied by (b) the Dividend Equivalent for such dividend or distribution.

8.

Delivery of Shares.

(a)

The shares of the Common Stock in a Participant’s Deferred Stock Account with respect to any Stock Award for which a Deferral Election has been made (together with dividends attributable to such shares credited to such Deferred Stock Account) shall be delivered in accordance with this Paragraph 8 as soon as practicable after the applicable Delivery Date.  Except with respect to a Deferral Election pursuant to Paragraph 6 hereof, or other agreement between the parties, such shares shall be delivered at one time; provided that, if the number of shares so delivered includes a fractional share, such number shall be rounded to the nearest whole number of shares.  If the Participant has in effect a Deferral Election pursuant to Paragraph 6 hereof, then such shares shall be delivered in five equal annual installments (together with dividends attributable to such shares credited to such Deferred Stock Account), with the first such installment being delivered on the first anniversary of the Delivery Date; provided that, if in order to equalize such installments, fractional shares would have to be delivered, such installments shall be adjusted by rounding to the nearest whole share.  If any such shares are to be delivered after the Participant has died or become legally incompetent, they shall be delivered to the Participant’s estate or legal guardian, as the case may be, in accordance with the foregoing; provided that, if the Participant dies with a Deferral Election pursuant to Paragraph 6 hereof in effect, the Committee shall deliver all remaining undelivered shares to the Participant’s estate immediately.  References to a Participant in this Plan shall be deemed to refer to the Participant’s estate or legal guardian, where appropriate.

(b)

The Company may, but shall not be required to, create a grantor trust or utilize an existing grantor trust (in either case, the “Trust”) to assist it in accumulating the shares of the Common Stock needed to fulfill its obligations under this Paragraph 8.  However, Participants shall have no beneficial or other interest in the Trust and the assets thereof, and their rights under this Plan shall be as general creditors of the Company, unaffected by the existence or nonexistence of the Trust, except that deliveries of Stock Awards to Participants from the Trust shall, to the extent thereof, be treated as satisfying the Company’s obligations under this Paragraph 8.

9.

Share Certificates; Voting and Other Rights.  The certificates for shares delivered to a Participant pursuant to Paragraph 8 above shall be issued in the name of the Participant, and from and after the date of such issuance the Participant shall be entitled to all rights of a stockholder with respect to the Common Stock for all such shares issued in his name, including the right to vote the shares, and the Participant shall receive all dividends and other distributions paid or made with respect thereto.

10.

General Restrictions.

(a)

Notwithstanding any other provision of this Plan or agreements made pursuant thereto, the Company shall not be required to issue or deliver any certificate or certificates for shares of the Common Stock under this Plan prior to fulfillment of all of the following conditions:

(i)

Listing or approval for listing upon official notice of issuance of such shares on the New York Stock Exchange, Inc., or such other securities exchange as may at the time be a market for the Common Stock;

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(ii)

Any registration or other qualification of such shares under any state or federal law or regulation, or the maintaining in effect of any such registration or other qualification which the Committee shall, upon the advice of counsel, deem necessary or advisable; and

(iii)

Obtaining any other consent, approval, or permit from any state or federal governmental agency which the Committee shall, after receiving the advice of counsel, determine to be necessary or advisable.

(b)

Nothing contained in this Plan shall prevent the Company from adopting other or additional compensation arrangements for the Participants.

11.

Shares Available.  Subject to Paragraph 12 below, the maximum number of shares of the Common Stock which may in the aggregate be paid as Stock Awards pursuant to this Plan is 250,000,000.  Shares of the Common Stock issuable under this Plan may be taken from treasury shares of the Company or purchased on the open market.

12.

Adjustments; Change of Control.

(a)

In the event that there is, at any time after the Board adopts this Plan, any change in corporate capitalization, such as a stock split, combination of shares, exchange of shares, warrants or rights offering to purchase the Common Stock at a price below its Fair Market Value, reclassification, or recapitalization, or a corporate transaction, such as any merger, consolidation, separation, including a spin-off, stock dividend, or other extraordinary distribution of stock or property of the Company, any reorganization (whether or not such reorganization comes within the definition of such term in Section 368 of the Code) or any partial or complete liquidation of the Company (each of the foregoing a “Transaction”), in each case other than any such Transaction which constitutes a Change of Control (as defined below), (i) the Deferred Stock Accounts shall be credited with the amount and kind of shares or other property which would have been received by a holder of the number of shares of the Common Stock held in such Deferred Stock Account had such shares of the Common Stock been outstanding as of the effectiveness of any such Transaction, (ii) the number and kind of shares or other property subject to this Plan shall likewise be appropriately adjusted to reflect the effectiveness of any such Transaction, and (iii) the Committee shall appropriately adjust any other relevant provisions of this Plan and any such modification by the Committee shall be binding and conclusive on all persons.

(b)

If the shares of the Common Stock credited to the Deferred Stock Accounts are converted pursuant to Paragraph 12(a) into another form of property, references in this Plan to the Common Stock shall be deemed, where appropriate, to refer to such other form of property, with such other modifications as may be required for this Plan to operate in accordance with its purposes.  Without limiting the generality of the foregoing, references to delivery of certificates for shares of the Common Stock shall be deemed to refer to delivery of cash and the incidents of ownership of any other property held in the Deferred Stock Accounts.

(c)

In lieu of the adjustment contemplated by Paragraph 12(a), in the event of a Change of Control, the following shall occur on the date of the Change of Control (i) the shares of the Common Stock held in each Participant’s Deferred Stock Account shall be deemed to be issued and outstanding as of the Change of Control; (ii) the Company shall forthwith deliver to each Participant who has a Deferred Stock Account all of the shares of the Common Stock or any other property held in such Participant’s Deferred Stock Account; and (iii) this Plan shall be terminated.

(d)

For purposes of this Plan, Change of Control shall mean any of the following events:

(i)

The acquisition by any individual, entity or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)) (a “Person”) of beneficial ownership (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of 80 percent or more of either (1) the then outstanding shares of the Common Stock of the Company (the “Outstanding Company Common Stock”), or (2) the combined voting power of then outstanding voting securities of the Company entitled to vote generally in the election of directors (the “Outstanding Company Voting Securities”); provided, however, that the following acquisitions shall not constitute a Change of Control (A) any acquisition directly from the Company (excluding an acquisition by virtue of the exercise of a conversion privilege unless the security being so converted was itself acquired directly from the Company), (B) any acquisition by the Company, (C) any acquisition by any employee benefit plan (or related trust) sponsored or maintained by the Company or any corporation controlled by the Company or (D) any acquisition by any corporation pursuant to a reorganization, merger or consolidation, if, following such reorganization, merger or consolidation, the conditions described in clauses (A), (B) and (C) of paragraph (iii) of this Paragraph 12(d) are satisfied; or 

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(ii)

Individuals who, as of the date hereof, constitute the Board of the Company (as of the date hereof, “Incumbent Board”) cease for any reason to constitute at least a majority of the Board; provided, however, that any individual becoming a director subsequent to the date hereof whose election, or nomination for election by the Company’s stockholders, was approved by a vote of at least a majority of the directors then comprising the Incumbent Board shall be considered as though such individual were a member of the Incumbent Board, but excluding, for this purpose, any such individual whose initial assumption of office occurs as a result of either an actual or threatened election contest (as such terms are used in Rule 14a-11 of Regulation 14A promulgated under the Exchange Act) or other actual or threatened solicitation of proxies or consents by or on behalf of a Person other than the Board; or

(iii)

Approval by the stockholders of the Company of a reorganization, merger, binding share exchange or consolidation, unless, following such reorganization, merger, binding share exchange or consolidation (A) more than 60 percent of, respectively, then outstanding shares of common stock of the corporation resulting from such reorganization, merger, binding share exchange or consolidation and the combined voting power of then outstanding voting securities of such corporation entitled to vote generally in the election of directors is then beneficially owned, directly or indirectly, by all or substantially all of the individuals and entities who were the beneficial owners, respectively, of the Outstanding Company Common Stock and Outstanding Company Voting Securities immediately prior to such reorganization, merger, binding share exchange or consolidation in substantially the same proportions as their ownership, immediately prior to such reorganization, merger, binding share exchange or consolidation, of the Outstanding Company Common Stock and Outstanding Company Voting Securities, as the case may be, (B) no Person (excluding the Company, any employee benefit plan (or related trust) of the Company or such corporation resulting from such reorganization, merger, binding share exchange or consolidation and any Person beneficially owning, immediately prior to such reorganization, merger, binding share exchange or consolidation, directly or indirectly, 20 percent or more of the Outstanding Company Common Stock or Outstanding Company Voting Securities, as the case may be) beneficially owns, directly or indirectly, 20 percent or more of, respectively, then outstanding shares of common stock of the corporation resulting from such reorganization, merger, binding share exchange or consolidation or the combined voting power of then outstanding voting securities of such corporation entitled to vote generally in the election of directors, and (C) at least a majority of the members of the board of directors of the corporation resulting from such reorganization, merger, binding share exchange or consolidation were members of the Incumbent Board at the time of the execution of the initial agreement providing for such reorganization, merger, binding share exchange or consolidation; or 

(iv)

Approval by the stockholders of the Company of (1) a complete liquidation or dissolution of the Company, or (2) the sale or other disposition of all or substantially all of the assets of the Company, other than to a corporation, with respect to which following such sale or other disposition, (A) more than 60 percent of, respectively, then outstanding shares of common stock of such corporation and the combined voting power of then outstanding voting securities of such corporation entitled to vote generally in the election of directors is then beneficially owned, directly or indirectly, by all or substantially all of the individuals and entities who were the beneficial owners, respectively, of the Outstanding Company Common Stock and Outstanding Company Voting Securities immediately prior to such sale or other disposition in substantially the same proportion as their ownership, immediately prior to such sale or other disposition, of the Outstanding Company Common Stock and Outstanding Company Voting Securities, as the case may be, (B) no Person (excluding the Company and any employee benefit plan (or related trust) of the Company or such corporation and any Person beneficially owning, immediately prior to such sale or other disposition, directly or indirectly, 20 percent or more of the Outstanding Company Common Stock or Outstanding Company Voting Securities, as the case may be) beneficially owns, directly or indirectly, 20 percent or more of, respectively, then outstanding shares of common stock of such corporation and the combined voting power of then outstanding voting securities of such corporation entitled to vote generally in the election of directors, and (C) at least a majority of the members of the board of directors of such corporation were members of the Incumbent Board at the time of the execution of the initial agreement or action of the Board providing for such sale or other disposition of assets of the Company.

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13.

Administration; Amendment and Termination.

(a)

The Plan shall be administered by the Compensation Committee (the “Committee”) of, or appointed by, the Board of Directors of the Company (the “Board”).  The Committee shall select one of its members as Chairman and shall act by vote of a majority of a quorum, or by unanimous written consent.  A majority of its members shall constitute a quorum.  The Committee shall be governed by the provisions of the Company’s Bylaws and of Nevada law applicable to the Board, except as otherwise provided herein or determined by the Board.  The Committee shall have full and complete authority, in its discretion, but subject to the express provisions of this Plan to administer all aspects of the Plan.  All interpretations and constructions of this Plan by the Committee, and all of its actions hereunder, shall be binding and conclusive on all persons for all purposes.

(b)

The Board may from time to time make such amendments to this Plan, including to preserve or come within any exemption from liability under Section 16(b) of the Exchange Act, as it may deem proper and in the best interest of the Company without further approval of the Company’s stockholders, provided that, to the extent required under Nevada law or to qualify transactions under this Plan for exemption under Rule 16b-3 promulgated under the Exchange Act, no amendment to this Plan shall be adopted without further approval of the Company’s stockholders and, provided, further, that if and to the extent required for this Plan to comply with Rule 16b-3 promulgated under the Exchange Act, no amendment to this Plan shall be made more than once in any six month period that would change the amount, price or timing of the grants of the Common Stock hereunder other than to comport with changes in the Code, the Employee Retirement Income Security Act of 1974, as amended, or the regulations thereunder.  The Board may terminate this Plan at any time by a vote of a majority of the members thereof.

14.

Term of Plan.  No shares of the Common Stock shall be issued, unless and until the Directors of the Company have approved this Plan and all other legal requirements have been met.  This Plan was adopted by the Board effective April 15, 2013, and shall expire on April 15, 2023.

15.

Governing Law.  This Plan and all actions taken thereunder shall be governed by, and construed in accordance with, the laws of the State of Nevada.

16.

Information to Shareholders.  The Company shall furnish to each of its stockholders financial statements of the Company at least annually.

17.

Miscellaneous.

(a)

Nothing in this Plan shall be deemed to create any obligation on the part of the Board to nominate any Director for reelection by the Company’s stockholders or to limit the rights of the stockholders to remove any Director.

(b)

The Company shall have the right to require, prior to the issuance or delivery of any shares of the Common Stock pursuant to this Plan, that a Participant make arrangements satisfactory to the Committee for the withholding of any taxes required by law to be withheld with respect to the issuance or delivery of such shares, including, without limitation, by the withholding of shares that would otherwise be so issued or delivered, by withholding from any other payment due to the Participant, or by a cash payment to the Company by the Participant.

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IN WITNESS WHEREOF, this Plan has been executed effective as of April 15, 2013.

GLOBAL EARTH ENERGY, INC.

By  /s/ Sydney A. Harland

Sydney A. Harland, Chief Executive Officer

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