Document:

Unassociated Document

    AMENDMENT
      TO CONSULTANCY AGREEMENT

    

    THIS
      AMENDMENT TO CONSULTANCY AGREEMENT is made as of this ___ day of March, 2005,
      by
      and between Advaxis,
      Inc, a Colorado corporation, having a principal place of business at 212
      Carnegie Center, Princeton, NJ (“Company”),
      and
LVEP
      Management, LLC
      with a
      place of business at 111
      River
      Street, 10th
      floor,
      Hoboken, NJ 07030
      (“Consultant”).

     

    WHEREAS,
      Consultant and Company have entered into a Consultancy Agreement for the
      performance by Consultant of certain consulting services on January __ 2005
      (the
“Agreement”);
      and

     

    WHEREAS,
      Consultant and Company wish to amend Schedule
      B
      and
      certain terms of the Agreement; 

     

    NOW,
      THEREFORE, in consideration of the mutual covenants, terms, and conditions
      hereinafter set forth, and intending to be legally bound, Company and Consultant
      agree as follows:

     

    	1.  	
            Compensation:
              Company shall pay Consultant or its designee the compensation per the
              attached Amended
              Schedule B
              effective April 1, 2005.

          

     

    	2.  	
             Term
              and Termination:

          

     

    	a.  	
            Term.
              The initial term of this Agreement shall begin on January 1. 2005 and
              shall end on December 31, 2005 (“Initial Term”). Thereafter, the Term
              shall be automatically extended by 12-month periods unless Company
              notifies Consultant no later than 60 days prior to the end of the Initial
              Term or any extension thereof of its intent not to extend the
              Agreement.

          

     

    	b.  	
            Termination.
              Consultant may terminate this Agreement for any reason during the term
              hereof upon forty five (45) days prior written notice to the Company.
              Company may terminate the Agreement upon forty five (45) days prior
              written notice to the Consultant provided that upon such early termination
              Company shall continue to pay Consultant the full consulting fee, option
              vesting, benefits and expenses for 6 months following the termination
              date. 

          

     

     

    	3.  	
            All
              other terms and conditions remain
              unchanged.

          

     

     

    IN
      WITNESS HEREOF, the parties have read and agree to be bound by the above terms
      and conditions and have entered into this Agreement effective as of the date
      set
      forth above.

    

    
      	
              Company

            	 	
              Consultant

            
	
              By:

            	 	
              By:

            
	
              (Signature)

            	 	
              (Signature)

            
	 	 	 
	
              Printed
                Name

            	 	
              Printed
                Name

            
	 	 	 
	
              Title

            	 	
              Title

            
	 	 	 
	
              Date

            	 	
              Date

            

    

    

     

    
      
         

      

      
        1

        
          

        

      

      
         

      

    

    

     

    Amended
      Schedule B

     

    COMPENSATION
      AND PAYMENT SCHEDULE.

    

     

    	i.  	
            Cash:
              during
              the Term of the Agreement, and starting as of April 1, 2004, Company
              shall
              pay Consultant $166,500 per annum ($13,875 per month payment) until
              the
              Company closes on $1 million in equity. Thereafter $185,000 annually
              ($15,416 per month payment), paid
              monthly.

          

     

     

    	ii.  	
            Bonus:
              Consultant
              shall receive a maximum potential one time payment at each year-end
              equal
              to 60% of the bonus received by the CEO. 

          

     

     

    	iii.  	
            Benefits:
              Company
              shall reimburse Consultant for the same level and type of benefits
              which
              it provides to its most senior
              executives.

          

     

     

    	iv.  	
            Expenses:
              Company
              shall reimburse all approved expenses incurred by Consultant in connection
              with the Services provided herein. Expenses in excess of $1,000.00
              shall
              have prior authorization from the CEO.

          

     

     

    	v.  	
            Options:  Company
              shall grant Consultant
              new option grant (“New Grant”) which, shall be equal to 3% (three percent)
              of the total issued and outstanding common shares of the Company, as
              of
              March 31, 2005. The New Grant shall be subject to the terms and condition
              of the Company’s 2005 option plan upon the approval and establishment of
              such plan (“Plan”)
              or upon the expansion of the existing plan. The options shall be
              non-qualified and shall vest monthly over four
              years.

          

     

     

    	vi.  	
            Vacation: Consultant
              may provide to its employees 21 annual vacation days not including
              holidays.

          

     

     

    	vii.  	
            Time
              commitment:
              Consultant shall not exceed more than 20% (twenty percent)of normal
              working hours on any outside project during any given work week without
              the approval of the CEO. 

          

     

     

     

    
      	
              Company

            	 	
              Consultant

            
	
              By:

            	 	
              By:

            
	
              (Signature)

            	 	
              (Signature)

            
	 	 	 
	
              Printed
                Name

            	 	
              Printed
                Name

            
	 	 	 
	
              Title

            	 	
              Title

            
	 	 	 
	
              Date

            	 	
              Date

            

    

     

    

    
       

      
        
           

        

          2Exhibit 10.1

                  Summary of Non-Employee Director Compensation

The chairman of our board of directors is paid a fee of $1250.00 per month.

All other non-employee directors are each paid fees of $1050.00 per month.

Attendance  of a Board  Committee  meeting by a  committee  member:
$175.00 per meetingSHARE PURCHASE AGREEMENT

This Share Purchase Agreement ("Agreement") is made as of January 23, 2006 by
Global Gold Mining, LLC, a Delaware, United States limited liability company
("Buyer"), Athelea Investments an Armenian Closed Joint Stock Company (the
Company"), shareholders Simon Cleghorn, a citizen of Australia resident in
Armenia, ("A"), Sergio Di Giovani, a citizen of Australia resident in Australia
("B"), Armen Ghazaryan, a citizen of Armenia resident in Armenia ("C"), and
Frank Pastorino, a citizen of the United States resident in Armenia ("D")
(collectively "Sellers").

                                    RECITALS

Sellers desire to sell, and Buyer desires to purchase, eighty shares which is
the equivalent of eighty percent (80%) of the issued and outstanding shares (the
"Shares") of the Company and thereafter to transfer back to Sellers certain
assets not connected to the "Getik" gold and uranium property and exploration
license in Armenia (which property is more particularly described in Exhibit 1
attached hereto and made a part hereof ) ("Getik") for the consideration and on
the terms set forth in this Agreement.

                                    AGREEMENT

The parties, intending to be legally bound, agree as follows:

1. DEFINITIONS. For purposes of this Agreement, the following terms have the
meanings specified or referred to in this Section 1:

         "Acquired Company"--the Company and its Subsidiaries if any,
collectively.

         "Applicable Contract"--any Contract (a) under which the Acquired
Company has or may acquire any rights, (b) under which the Acquired Company has
or may become subject to any obligation or liability, or (c) by which the
Acquired Company or any of the assets owned or used by it is or may become
bound.

         "Balance Sheet"--as defined in Section 3.4.

         "Best Efforts"--the efforts that a prudent Person desirous of achieving
a result would use in similar circumstances to ensure that such result is
achieved as expeditiously as possible.

         "Breach"--a "Breach" of a representation, warranty, covenant,
obligation, or other provision of this Agreement or any instrument delivered
pursuant to this Agreement will be deemed to have occurred if there is or has
been (a) any inaccuracy in or breach of, or any failure to perform or comply
with, such representation, warranty, covenant, obligation, or other provision,
or (b) any claim (by any Person) or other occurrence or circumstance that is or
was inconsistent with such representation, warranty, covenant, obligation, or
other provision, and the term "Breach" means any such inaccuracy, breach,
failure, claim, occurrence, or circumstance.

<PAGE>

         "Buyer"--as defined in the first paragraph of this Agreement.

         "Closing"--as defined in Section 2.3.

         "Closing Date"--the date and time as of which the Closing actually
takes place.

         "Company"--as defined in the Recitals of this Agreement.

         "Consent"--any approval, consent, ratification, waiver, or other
authorization (including any Governmental Authorization).

         "Contract"--any agreement, contract, obligation, promise, or
undertaking (whether written or oral and whether express or implied) that is
legally binding.

         "Damages"--as defined in Section 10.2.

         "Disclosure Letter"--the disclosure letter delivered by Sellers to
Buyer concurrently with the execution and delivery of this Agreement.

         "Employment Agreements"--as defined in Section 2.4(a)(iii).

         "Encumbrance"--any charge, claim, community property interest,
condition, equitable interest, lien, option, pledge, security interest, right of
first refusal, or restriction of any kind, including any restriction on use,
voting, transfer, receipt of income, or exercise of any other attribute of
ownership.

          "Facilities"--any real property, leaseholds, or other interests
currently or formerly owned or operated by the Acquired Company and any
buildings, plants, structures, or equipment (including motor vehicles, tank
cars, and rolling stock) currently or formerly owned or operated by the Acquired
Company.

         "GAAP"--generally accepted United States accounting principles, applied
on a basis consistent with the basis on which the Balance Sheet and the other
financial statements referred to in Section 3.4(b) were prepared.

                                       2

<PAGE>

         "Governmental Authorization"--any approval, consent, license, permit,
waiver, or other authorization issued, granted, given, or otherwise made
available by or under the authority of any Governmental Body or pursuant to any
Legal Requirement.

         "Governmental Body"--any:

         (a) nation, state, county, city, town, village, district, or other
jurisdiction of any nature;

         (b) federal, state, local, municipal, foreign, or other government;

         (c) governmental or quasi-governmental authority of any nature
(including any governmental agency, branch, department, official, or entity and
any court or other tribunal);

         (d) multi-national organization or body; or

         (e) body exercising, or entitled to exercise, any administrative,
executive, judicial, legislative, police, regulatory, or taxing authority or
power of any nature.

         "Hazardous Activity"--the distribution, generation, handling,
importing, management, manufacturing, processing, production, refinement,
Release, storage, transfer, transportation, treatment, or use (including any
withdrawal or other use of groundwater) of Hazardous Materials in, on, under,
about, or from the Facilities or any part thereof into the Environment, and any
other act, business, operation, or thing that increases the danger, or risk of
danger, or poses an unreasonable risk of harm to persons or property on or off
the Facilities, or that may affect the value of the Facilities or the Acquired
Company.

         "Hazardous Materials"--any waste or other substance that is listed,
defined, designated, or classified as, or otherwise determined to be, hazardous,
radioactive, or toxic or a pollutant or a contaminant under or pursuant to any
Environmental Law, including any admixture or solution thereof, and specifically
including petroleum and all derivatives thereof or synthetic substitutes
therefore and asbestos or asbestos-containing materials.

         "Intellectual Property Assets"--as defined in Section 3.22.

         "Interim Balance Sheet"--as defined in Section 3.4.

                                       3

<PAGE>

         "Knowledge"--an individual will be deemed to have "Knowledge" of a
particular fact or other matter if:

         (a) such individual is actually aware of such fact or other matter; or

         (b) a prudent individual could be expected to discover or otherwise
become aware of such fact or other matter in the course of conducting a
reasonably comprehensive investigation concerning the existence of such fact or
other matter.

         A Person (other than an individual) will be deemed to have "Knowledge"
of a particular fact or other matter if any individual who is serving, or who
has at any time served, as a director, officer, partner, executor, or trustee of
such Person (or in any similar capacity) has, or at any time had, Knowledge of
such fact or other matter.

         "Legal Requirement"--any national, regional, local, municipal, foreign,
international, multinational, or other administrative order, constitution, law,
ordinance, principle of common law, regulation, statute, or treaty.

         "Order"--any award, decision, injunction, judgment, order, ruling,
subpoena, or verdict entered, issued, made, or rendered by any court,
administrative agency, or other Governmental Body or by any arbitrator.

         "Ordinary Course of Business"--an action taken by a Person will be
deemed to have been taken in the "Ordinary Course of Business" only if:

         (a) such action is consistent with the past practices of such Person
and is taken in the ordinary course of the normal day-to-day operations of such
Person;

         (b) such action is not required to be authorized by the board of such
Person (or by any Person or group of Persons exercising similar authority) ; and

         (c) such action is similar in nature and magnitude to actions
customarily taken, without any authorization by the board of directors (or by
any Person or group of Persons exercising similar authority), in the ordinary
course of the normal day-to-day operations of other Persons that are in the same
line of business as such Person.

         "Organizational Documents"--(a) the articles or certificate of
formation a company ; (b) any charter or similar constituent document adopted or
filed in connection with the creation, formation, or organization of a Person;
and (c) any amendment to any of the foregoing.

         "Person"--any individual, corporation (including any non-profit
corporation), general or limited partnership, limited liability company, joint
venture, estate, trust, association, organization, labor union, or other entity
or Governmental Body.

         "Plan"--as defined in Section 3.13.

         "Proceeding"--any action, arbitration, audit, hearing, investigation,
litigation, or suit (whether civil, criminal, administrative, investigative, or
informal) commenced, brought, conducted, or heard by or before, or otherwise
involving, any Governmental Body or arbitrator.

                                       4

<PAGE>

         "Promissory Notes"--as defined in Section 2.4(b)(ii).

         "Related Person"--with respect to a particular individual:

         (a) each other member of such individual's Family;

         (b) any Person that is directly or indirectly controlled by such
individual or one or more members of such individual's Family;

         (c) any Person in which such individual or members of such individual's
Family hold (individually or in the aggregate) a Material Interest; and

         (d) any Person with respect to which such individual or one or more
members of such individual's Family serves as a director, officer, partner,
executor, or trustee (or in a similar capacity).

         With respect to a specified Person other than an individual:

         (a) any Person that directly or indirectly controls, is directly or
indirectly controlled by, or is directly or indirectly under common control with
such specified Person;

         (b) any Person that holds a Material Interest in such specified Person;

         (c) each Person that serves as a director, officer, partner, executor,
or trustee of such specified Person (or in a similar capacity);

         (d) any Person in which such specified Person holds a Material
Interest;

         (e) any Person with respect to which such specified Person serves as a
general partner or a trustee (or in a similar capacity); and

         (f) any Related Person of any individual described in clause (b) or
(c).

         For purposes of this definition, (a) the "Family" of an individual
includes (i) the individual, (ii) the individual's spouse, (iii) any other
natural person who is related to the individual or the individual's spouse
within the second degree, and (iv) any other natural person who resides with
such individual, and (b) "Material Interest" means direct or indirect beneficial
ownership of voting securities or other voting interests representing at least
25% of the outstanding voting power of a Person or equity securities or other
equity interests representing at least 25% of the outstanding equity securities
or equity interests in a Person.

                                       5

<PAGE>

         "Representative"--with respect to a particular Person, any director,
officer, employee, agent, consultant, advisor, or other representative of such
Person, including legal counsel, accountants, and financial advisors.

         "Securities Act"--the United States Securities Act of 1933 or any
successor law, and regulations and rules issued pursuant to that Act or any
successor law.

         "Sellers"--as defined in the first paragraph of this Agreement.

          "Shares"--as defined in the Recitals of this Agreement.

         "Subsidiary"--with respect to any Person (the "Owner"), any corporation
or other Person of which securities or other interests having the power to elect
a majority of that corporation's or other Person's board of directors or similar
governing body, or otherwise having the power to direct the business and
policies of that corporation or other Person (other than securities or other
interests having such power only upon the happening of a contingency that has
not occurred) are held by the Owner or one or more of its Subsidiaries; when
used without reference to a particular Person, "Subsidiary" means a Subsidiary
of the Company.

         "Tax Return"--any return (including any information return), report,
statement, schedule, notice, form, or other document or information filed with
or submitted to, or required to be filed with or submitted to, any Governmental
Body in connection with the determination, assessment, collection, or payment of
any Tax or in connection with the administration, implementation, or enforcement
of or compliance with any Legal Requirement relating to any Tax.

         "Threatened"--a claim, Proceeding, dispute, action, or other matter
will be deemed to have been "Threatened" if any demand or statement has been
made (orally or in writing) or any notice has been given (orally or in writing),
or if any other event has occurred or any other circumstances exist, that would
lead a prudent Person to conclude that such a claim, Proceeding, dispute,
action, or other matter is likely to be asserted, commenced, taken, or otherwise
pursued in the future.

2.       SALE AND TRANSFER OF SHARES; CLOSING.

         2.1 Shares. Subject to the terms and conditions of this Agreement, at
the Closing, Sellers will sell and transfer the Shares to Buyer, and Buyer will
purchase the Shares from Sellers.

                                       6

<PAGE>

         2.2 Purchase Price. The purchase price (the "Purchase Price") for the
Shares will be One Hundred Thousand (100,000) shares of the common stock of
Global Gold Corporation ("GBGD") which shall be delivered and vest on the terms
of the Stock Award Agreements attached hereto and made a part hereof as Exhibit
2. The Purchase Price is inclusive of and the Sellers are solely and separately
responsible for all taxes, fees and levies, duties and other charges applicable
now or those which may become applicable in the future, including such taxes,
duties or other charges acknowledged retroactive, which may be imposed on any of
the Purchase Price (including, but not limited to, the property tax, profit or
income tax, VAT) (all taxes, duties or other charges hereinafter collectively
referred to as the "Taxes"), associated with, or payment of, such Purchase
Price. Buyer may calculate, and withhold from the Purchase Price and pay any Tax
on behalf of the Sellers.

         2.3 Closing. The purchase and sale (the "Closing") provided for in this
Agreement will take place at the offices of Buyer's counsel at 2a Tamanyan
Street, Suite #2 Yerevan , Armenia, at 10:00 a.m. (local time) on or before
January 31, 2006. Subject to the provisions of Section 9, failure to consummate
the purchase and sale provided for in this Agreement on the date and time and at
the place determined pursuant to this Section 2.3 will not result in the
termination of this Agreement and will not relieve any party of any obligation
under this Agreement.

         2.4      Closing Obligations.  At the Closing:
                  -------------------

                  (a) Sellers will deliver to Buyer:

                           (i) certificates representing the Shares, duly
                  endorsed (or accompanied by duly executed stock powers or
                  equivalent documents), with signatures for transfer to Buyer;

                           (ii) an executed version of the Shareholders
                  Agreement attached hereto and made a part hereof as Exhibit 3
                  (the Shareholder's Agreement");

                           (iii) a certificate executed by Sellers representing
                  and warranting to Buyer that each of Sellers' representations
                  and warranties in this Agreement was accurate in all respects
                  as of the date of this Agreement and is accurate in all
                  respects as of the Closing Date as if made on the Closing Date
                  (giving full effect to any supplements to the Disclosure
                  Letter that were delivered by Sellers to Buyer prior to the
                  Closing Date in accordance with Section 5.5.; and

                           (v) a resolution of the Company authorizing transfer
                  of Shares to Buyer.

                                       7

<PAGE>

                  (b) Buyer will deliver to Sellers:

                           (i)      the Purchase Price;

                          (ii)      an executed version of the Shareholders
                                    Agreement;

                         (iii)      a legal transfer of all assets and
                                    liabilities not connected to Getik,
                                    (including but not limited to the right to
                                    use the name "Athelea" and all financial
                                    rights and obligations) back to Sellers and

                           (iv) a certificate executed by Buyer to the effect
                  that, except as otherwise stated in such certificate, each of
                  Buyer's representations and warranties in this Agreement was
                  accurate in all respects as of the date of this Agreement and
                  is accurate in all respects as of the Closing Date as if made
                  on the Closing Date;

3. REPRESENTATIONS AND WARRANTIES OF SELLERS. Sellers represent and warrant to
Buyer as follows:

         3.1      Organization and Good Standing.

                  (a) Part 3.1 of the Disclosure Letter contains a complete and
         accurate list for the Acquired Company of its name, its jurisdiction of
         incorporation, other jurisdictions in which it is authorized to do
         business, and its capitalization (including the identity of each
         participant and the number of shares held by each). The Acquired
         Company is a company duly organized, validly existing, and in good
         standing under the laws of its jurisdiction of incorporation, with full
         company power and authority to conduct its business as it is now being
         conducted, to own or use the properties and assets that it purports to
         own or use, and to perform all its obligations under Applicable
         Contracts. The Acquired Company is duly qualified to do business as a
         foreign corporation and is in good standing under the laws of each
         jurisdiction in which either the ownership or use of the properties
         owned or used by it, or the nature of the activities conducted by it,
         requires such qualification.

                  (b) Sellers have delivered to Buyer copies of the
         Organizational Documents of the Acquired Company, as currently in
         effect.

         3.2      Authority; No Conflict.

                  (a) This Agreement constitutes the legal, valid, and binding
         obligation of Sellers, enforceable against Sellers in accordance with
         its terms. Upon the execution and delivery by Sellers of the documents
         identified in Article 2.4(a) above, (collectively, the "Sellers'
         Closing Documents"), the Sellers' Closing Documents will constitute the
         legal, valid, and binding obligations of Sellers, enforceable against
         Sellers in accordance with their respective terms. Sellers have the
         absolute and unrestricted right, power, authority, and capacity to
         execute and deliver this Agreement and the Sellers' Closing Documents
         and to perform their obligations under this Agreement and the Sellers'
         Closing Documents.

                                       8

<PAGE>

                  (b) Except as set forth in Part 3.2 of the Disclosure Letter,
         neither the execution nor delivery of this Agreement nor the
         consummation or performance of any of the Contemplated Transactions
         will, directly or indirectly (with or without notice or lapse of time):

                           (i) contravene, conflict with, or result in a
                  violation of any provision of the Organizational Documents of
                  the Acquired Company, or (B) any resolution adopted by the
                  board of directors or the stockholders of the Acquired
                  Company;

                           (ii) contravene, conflict with, or result in a
                  violation of, or give any Governmental Body or other Person
                  the right to challenge any of the Contemplated Transactions or
                  to exercise any remedy or obtain any relief under, any Legal
                  Requirement or any Order to which the Acquired Company or a
                  Seller, or any of the assets owned or used by the Acquired
                  Company, may be subject;

                           (iii) contravene, conflict with, or result in a
                  violation of any of the terms or requirements of, or give any
                  Governmental Body the right to revoke, withdraw, suspend,
                  cancel, terminate, or modify, any Governmental Authorization
                  that is held by the Acquired Company or that otherwise relates
                  to the business of, or any of the assets owned or used by, the
                  Acquired Company;

                           (iv) cause Buyer or the Acquired Company to become
                  subject to, or to become liable for the payment of, any Tax;

                           (v) cause any of the assets owned by the Acquired
                  Company to be reassessed or revalued by any taxing authority
                  or other Governmental Body;

                           (vi) contravene, conflict with, or result in a
                  violation or breach of any provision of, or give any Person
                  the right to declare a default or exercise any remedy under,
                  or to accelerate the maturity or performance of, or to cancel,
                  terminate, or modify, any Applicable Contract; or

                           (vii) result in the imposition or creation of any
                  Encumbrance upon or with respect to any of the assets owned or
                  used by the Acquired Company.

                  Except as set forth in Part 3.2 of the Disclosure Letter, no
                  Seller or Acquired Company is or will be required to give any
                  notice to or obtain any Consent from any Person in connection
                  with the execution and delivery of this Agreement or the
                  consummation or performance of any of the Contemplated
                  Transactions.

                                       9

<PAGE>

                  (c) Sellers are acquiring the GBGD shares for their own
         account and not with a view to their distribution within the meaning of
         Section 2(11) of the Securities Act.

         3.3 Capitalization. Sellers are and will be on the Closing Date the
record and beneficial owners and holders of the Shares, free and clear of all
Encumbrances. A owns 30 Shares, B owns 30 Shares, C owns 10 Shares, and D owns
30 Shares. No legend or other reference to any purported Encumbrance appears
upon any certificate representing equity securities of the Acquired Company. All
of the outstanding equity securities of each Acquired Company have been duly
authorized and validly issued and are fully paid and nonassessable. There are no
Contracts relating to the issuance, sale, or transfer of any equity securities
or other securities of the Acquired Company. None of the outstanding equity
securities or other securities of the Acquired Company was issued in violation
of any other Legal Requirement. The Acquired Company does not own, nor has any
Contract to acquire, any equity securities or other securities of any Person or
any direct or indirect equity or ownership interest in any other business.

         3.4 Financial Statements. Sellers have delivered to Buyer any of the
following which exist: (a) balance sheets of the Acquired Company as at December
31, 2005 and the related statements of income, changes in stockholders' equity,
and cash flow for each of the fiscal years then ended, (b) a balance sheet of
the Acquired Company as at December 31, 2005 (including the notes thereto, the
"Balance Sheet"), and the related statements of income, changes in shareholders'
equity, and cash flow for the fiscal year then ended.

         3.5 Books and Records. The books of account, minute books, share record
books, and other records of the Acquired Company, all of which have been made
available to Buyer, are complete and correct and have been maintained in
accordance with sound business practices and legal requirements, including the
maintenance of an adequate system of internal controls. The minute books of the
Acquired Company contains accurate and complete records of all meetings held of,
and corporate action taken by the Acquired Company, and no meeting has been held
for which minutes have not been prepared and are not contained in such minute
books. At the Closing, all of those books and records will be in the possession
of the Acquired Company.

         3.6 Title to Properties; Encumbrances. Part 3.6 of the Disclosure
Letter contains a complete and accurate list of all real property, leaseholds,
licenses, or other interests therein owned by the Acquired Company. Sellers have
delivered to Buyer copies of the deeds and other instruments (as recorded) by
which the Acquired Company acquired such real property and interests, and copies
of all title insurance policies, opinions, abstracts, and surveys in the
possession of Sellers or the Acquired Company and relating to such property or
interests. The Acquired Company owns (with good and marketable title in the case
of real property, subject only to the matters permitted by the following
sentence) all the properties, licenses, and assets (whether real, personal, or
mixed and whether tangible or intangible) that it purports to own located in the

                                       10

<PAGE>

facilities owned or operated by the Acquired Company or reflected as owned in
the books and records of the Acquired Company, including all of the properties
and assets reflected in the Balance Sheet and the Interim Balance Sheet (except
for assets held under capitalized leases disclosed or not required to be
disclosed in Part 3.6 of the Disclosure Letter and personal property sold since
the date of the Balance Sheet and the Interim Balance Sheet, as the case may be,
in the Ordinary Course of Business), and all of the properties and assets
purchased or otherwise acquired by the Acquired Company since the date of the
Balance Sheet (except for personal property acquired and sold since the date of
the Balance Sheet in the Ordinary Course of Business and consistent with past
practice). All material properties and assets reflected in the Balance Sheet and
the Interim Balance Sheet are free and clear of all Encumbrances and are not, in
the case of real property, subject to any rights of way, building use
restrictions, exceptions, variances, reservations, or limitations of any nature
except, with respect to all such properties and assets, (a) mortgages or
security interests shown on the Balance Sheet or the Interim Balance Sheet as
securing specified liabilities or obligations, with respect to which no default
(or event that, with notice or lapse of time or both, would constitute a
default) exists, (b) mortgages or security interests incurred in connection with
the purchase of property or assets after the date of the Interim Balance Sheet
(such mortgages and security interests being limited to the property or assets
so acquired), with respect to which no default (or event that, with notice or
lapse of time or both, would constitute a default) exists, (c) liens for current
taxes not yet due, and (d) with respect to real property, (i) minor
imperfections of title, if any, none of which is substantial in amount,
materially detracts from the value or impairs the use of the property subject
thereto, or impairs the operations of the Acquired Company, and (ii) zoning laws
and other land use restrictions that do not impair the present or anticipated
use of the property subject thereto. All buildings, plants, and structures owned
by the Acquired Company lies wholly within the boundaries of the real property
owned by the Acquired Company and do not encroach upon the property of, or
otherwise conflict with the property rights of, any other Person.

         3.7 Condition and Sufficiency of Assets. The buildings, plants,
structures, and equipment of the Acquired Company, if any, are structurally
sound, are in good operating condition and repair, and are adequate for the uses
to which they are being put, and none of such buildings, plants, structures, or
equipment is in need of maintenance or repairs except for ordinary, routine
maintenance and repairs that are not material in nature or cost. The building,
plants, structures, and equipment of the Acquired Company are sufficient for the
continued conduct of the Acquired Company's business after the Closing in
substantially the same manner as conducted prior to the Closing.

         3.8 Accounts Receivable. All accounts receivable of the Acquired
Company that are reflected on the Balance Sheet or the Interim Balance Sheet or
on the accounting records of the Acquired Company as of the Closing Date
(collectively, the "Accounts Receivable") represent or will represent valid
obligations arising from sales actually made or services actually performed in
the Ordinary Course of Business. Unless paid prior to the Closing Date, the
Accounts Receivable are or will be as of the Closing Date current and
collectible net of the respective reserves shown on the Balance Sheet or the

                                       11

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Interim Balance Sheet or on the accounting records of the Acquired Company as of
the Closing Date (which reserves are adequate and calculated consistent with
past practice and, in the case of the reserve as of the Closing Date, will not
represent a greater percentage of the Accounts Receivable as of the Closing Date
than the reserve reflected in the Interim Balance Sheet represented of the
Accounts Receivable reflected therein and will not represent a material adverse
change in the composition of such Accounts Receivable in terms of aging).
Subject to such reserves, each of the Accounts Receivable either has been or
will be collected in full, without any set-off, within ninety days after the day
on which it first becomes due and payable. There is no contest, claim, or right
of set-off, other than returns in the Ordinary Course of Business, under any
Contract with any obligor of an Accounts Receivable relating to the amount or
validity of such Accounts Receivable. Part 3.8 of the Disclosure Letter contains
a complete and accurate list of all Accounts Receivable as of the date of the
Interim Balance Sheet, which list sets forth the aging of such Accounts
Receivable.

         3.9 Inventory. All inventory of the Acquired Company, whether or not
reflected in the Balance Sheet or the Interim Balance Sheet, consists of a
quality and quantity usable and salable in the Ordinary Course of Business,
except for obsolete items and items of below-standard quality, all of which have
been written off or written down to net realizable value in the Balance Sheet or
the Interim Balance Sheet or on the accounting records of the Acquired Company
as of the Closing Date, as the case may be. All inventories not written off have
been priced at the lower of cost or market value basis. The quantities of each
item of inventory (whether raw materials, work-in-process, or finished goods)
are not excessive, but are reasonable in the present circumstances of the
Acquired Company.

         3.10 No Undisclosed Liabilities. Except as set forth in Part 3.10 of
the Disclosure Letter, the Acquired Company has no liabilities or obligations of
any nature (whether known or unknown and whether absolute, accrued, contingent,
or otherwise) except for liabilities or obligations reflected or reserved
against in the Balance Sheet or the Interim Balance Sheet.

         3.11     Taxes.

                  (a) The Acquired Company has filed or caused to be filed all
         Tax Returns that are or were required to be filed by or with respect to
         any of it, either separately or as a member of a group of corporations,
         pursuant to applicable Legal Requirements. Sellers have delivered to
         Buyer copies of, and Part 3.11 of the Disclosure Letter contains a
         complete and accurate list of, all such Tax Returns. The Acquired
         Company has paid, or made provision for the payment of, all Taxes that
         have or may have become due pursuant to those Tax Returns or otherwise,
         or pursuant to any assessment received by the Acquired Company, except
         such Taxes, if any, as are listed in Part 3.11 of the Disclosure Letter
         and are being contested in good faith and as to which adequate reserves
         have been provided in the Balance Sheet and the Interim Balance Sheet.

                                       12

<PAGE>

                  (b) The Tax Returns of the Acquired Company subject to such
         Taxes have been audited by all the relevant authorities or are closed
         by the applicable statute of limitations for all taxable years through
         the date of Closing. Part 3.11 of the Disclosure Letter contains a
         complete and accurate list of all audits of all such Tax Returns,
         including a reasonably detailed description of the nature and outcome
         of each audit. All deficiencies proposed as a result of such audits
         have been paid, reserved against, settled, or, as described in Part
         3.11 of the Disclosure Letter, are being contested in good faith by
         appropriate proceedings. Part 3.11 of the Disclosure Letter describes
         all adjustments for all taxable years since 2004. Except as described
         in Part 3.11 of the Disclosure Letter, no Seller or Acquired Company
         has given or been requested to give waivers or extensions (or is or
         would be subject to a waiver or extension given by any other Person) of
         any statute of limitations relating to the payment of Taxes of the
         Acquired Company or for which the Acquired Company may be liable.

                  (c) The charges, accruals, and reserves with respect to Taxes
         on the respective books of the Acquired Company are adequate and are at
         least equal to the Acquired Company's liability for Taxes. There exists
         no proposed tax assessment against the Acquired Company except as
         disclosed in the Balance Sheet or in Part 3.11 of the Disclosure
         Letter. All Taxes that the Acquired Company is or was required by Legal
         Requirements to withhold or collect have been duly withheld or
         collected and, to the extent required, have been paid to the proper
         Governmental Body or other Person.

                  (d) All Tax Returns filed by (or that include on a
         consolidated basis) the Acquired Company are true, correct, and
         complete. There is no tax sharing agreement that will require any
         payment by the Acquired Company after the date of this Agreement.

         3.12 No Material Adverse Change. Since the date of the Balance Sheet,
there has not been any adverse change in the business, operations, properties,
prospects, assets, or condition of the Acquired Company, and no event has
occurred or circumstance exists that may result in such a material adverse
change.

         3.13     Employee benefits.

                  (a) Part 3.13(i) of the Disclosure Letter contains a complete
         and accurate list of all Company employee benefit plans and
         obligations.

                  (b) The consummation of the Contemplated Transactions will not
         result in the payment, vesting, or acceleration of any benefit.

                                       13

<PAGE>

         3.14     Compliance with Legal Requirements; Governmental
                  Authorizations.

                  (a) Except as set forth in Part 3.14 of the Disclosure Letter:

                           (i) The Acquired Company is, and at all times has
                  been, in full compliance with each Legal Requirement that is
                  or was applicable to it or to the conduct or operation of its
                  business or the ownership or use of any of its assets;

                           (ii) no event has occurred or circumstance exists
                  that (with or without notice or lapse of time) (A) may
                  constitute or result in a violation by the Acquired Company
                  of, or a failure on the part of the Acquired Company to comply
                  with, any Legal Requirement, or (B) may give rise to any
                  obligation on the part of the Acquired Company to undertake,
                  or to bear all or any portion of the cost of, any remedial
                  action of any nature; and

                           (iii) The Acquired Company has not received, at any
                  time, any notice or other communication (whether oral or
                  written) from any Governmental Body or any other Person
                  regarding (A) any actual, alleged, possible, or potential
                  violation of, or failure to comply with, any Legal
                  Requirement, or (B) any actual, alleged, possible, or
                  potential obligation on the part of the Acquired Company to
                  undertake, or to bear all or any portion of the cost of, any
                  remedial action of any nature.

                  (b) Part 3.14 of the Disclosure Letter contains a complete and
         accurate list of each Governmental Authorization that is held by the
         Acquired Company or that otherwise relates to the business of, or to
         any of the assets owned or used by, the Acquired Company. Each
         Governmental Authorization listed or required to be listed in Part 3.14
         of the Disclosure Letter is valid and in full force and effect. Except
         as set forth in Part 3.14 of the Disclosure Letter:

                           (i) The Acquired Company is, and at all times has
                  been, in full compliance with all of the terms and
                  requirements of each Governmental Authorization identified or
                  required to be identified in Part 3.14 of the Disclosure
                  Letter;

                           (ii) no event has occurred or circumstance exists
                  that may (with or without notice or lapse of time) (A)
                  constitute or result directly or indirectly in a violation of
                  or a failure to comply with any term or requirement of any
                  Governmental Authorization listed or required to be listed in
                  Part 3.14 of the Disclosure Letter, or (B) result directly or
                  indirectly in the revocation, withdrawal, suspension,
                  cancellation, or termination of, or any modification to, any
                  Governmental Authorization listed or required to be listed in
                  Part 3.14 of the Disclosure Letter;

                                       14

<PAGE>

                           (iii) The Acquired Company has not received, at any
                  time, any notice or other communication (whether oral or
                  written) from any Governmental Body or any other Person
                  regarding (A) any actual, alleged, possible, or potential
                  violation of or failure to comply with any term or requirement
                  of any Governmental Authorization, or (B) any actual,
                  proposed, possible, or potential revocation, withdrawal,
                  suspension, cancellation, termination of, or modification to
                  any Governmental Authorization; and

                           (iv) all applications required to have been filed for
                  the renewal of the Governmental Authorizations listed or
                  required to be listed in Part 3.14 of the Disclosure Letter
                  have been duly filed on a timely basis with the appropriate
                  Governmental Bodies, and all other filings required to have
                  been made with respect to such Governmental Authorizations
                  have been duly made on a timely basis with the appropriate
                  Governmental Bodies.

         The Governmental Authorizations listed in Part 3.14 of the Disclosure
         Letter collectively constitute all of the Governmental Authorizations
         necessary to permit the Acquired Company to lawfully conduct and
         operate their businesses in the manner they currently conduct and
         operate such businesses and to permit the Acquired Company to own and
         use their assets in the manner in which they currently own and use such
         assets.

         3.15     Legal Proceedings; Orders.

                  (a)      Except as set forth in Part 3.15 of the Disclosure
         Letter, there is no pending Proceeding:

                           (i) that has been commenced by or against the
                  Acquired Company or that otherwise relates to or may affect
                  the business of, or any of the assets owned or used by, the
                  Acquired Company; or

                           (ii) that challenges, or that may have the effect of
                  preventing, delaying, making illegal, or otherwise interfering
                  with, any of the Contemplated Transactions.

         To the Knowledge of Sellers and the Acquired Company, (1) no such
         Proceeding has been Threatened, and (2) no event has occurred or
         circumstance exists that may give rise to or serve as a basis for the
         commencement of any such Proceeding. Sellers have delivered to Buyer
         copies of all pleadings, correspondence, and other documents relating
         to each Proceeding listed in Part 3.15 of the Disclosure Letter. The
         Proceedings listed in Part 3.15 of the Disclosure Letter will not have
         a material adverse effect on the business, operations, assets,
         condition, or prospects of the Acquired Company.

                                       15

<PAGE>

                  (b) Except as set forth in Part 3.15 of the Disclosure Letter:

                           (i) there is no Order to which the Acquired Company,
                  or any of the assets owned or used by the Acquired Company, is
                  subject;

                           (ii) no Seller is subject to any Order that relates
                  to the business of, or any of the assets owned or used by, the
                  Acquired Company; and

                           (iii) no officer, director, agent, or employee of the
                  Acquired Company is subject to any Order that prohibits such
                  officer, director, agent, or employee from engaging in or
                  continuing any conduct, activity, or practice relating to the
                  business of the Acquired Company.

                  (c) Except as set forth in Part 3.15 of the Disclosure Letter:

                           (i) The Acquired Company is, and at all times has
                  been, in full compliance with all of the terms and
                  requirements of each Order to which it, or any of the assets
                  owned or used by it, is or has been subject;

                           (ii) no event has occurred or circumstance exists
                  that may constitute or result in (with or without notice or
                  lapse of time) a violation of or failure to comply with any
                  term or requirement of any Order to which the Acquired
                  Company, or any of the assets owned or used by the Acquired
                  Company, is subject; and

                           (iii) the Acquired Company has not received, at any
                  time, any notice or other communication (whether oral or
                  written) from any Governmental Body or any other Person
                  regarding any actual, alleged, possible, or potential
                  violation of, or failure to comply with, any term or
                  requirement of any Order to which the Acquired Company, or any
                  of the assets owned or used by the Acquired Company, is or has
                  been subject.

         3.16 Absence of Certain Changes and Events. Except as set forth in Part
3.16 of the Disclosure Letter, since the date of the Balance Sheet, the Acquired
Company has conducted its businesses only in the Ordinary Course of Business and
there has not been any:

                  (a) change in the Acquired Company's authorized or issued
         capital; grant of any share option or right to purchase shares of
         capital of the Acquired Company; issuance of any security convertible
         into such capital stock; grant of any registration rights; purchase,
         redemption, retirement, or other acquisition by the Acquired Company of
         any shares; or declaration or payment of any dividend or other
         distribution or payment;

                                       16

<PAGE>

                  (b) amendment to the Organizational Documents of the Acquired
         Company;

                  (c) payment or increase by the Acquired Company of any
         bonuses, salaries, or other compensation to any stockholder, director,
         officer, or (except in the Ordinary Course of Business) employee or
         entry into any employment, severance, or similar Contract with any
         director, officer, or employee;

                  (d) adoption of, or increase in the payments to or benefits
         under, any profit sharing, bonus, deferred compensation, savings,
         insurance, pension, retirement, or other employee benefit plan for or
         with any employees of the Acquired Company;

                  (e) damage to or destruction or loss of any asset or property
         of the Acquired Company, whether or not covered by insurance,
         materially and adversely affecting the properties, assets, business,
         financial condition, or prospects of the Acquired Company, taken as a
         whole;

                  (f) entry into, termination of, or receipt of notice of
         termination of (i) any license, distributorship, dealer, sales
         representative, joint venture, credit, or similar agreement, or (ii)
         any Contract or transaction involving a total remaining commitment by
         or to the Acquired Company of at least $1,000.00 USD;

                  (g) sale (other than sales of inventory in the Ordinary Course
         of Business), lease, or other disposition of any asset or property of
         the Acquired Company or mortgage, pledge, or imposition of any lien or
         other encumbrance on any material asset or property of the Acquired
         Company, including the sale, lease, or other disposition of any of the
         Intellectual Property Assets;

                  (h) cancellation or waiver of any claims or rights with a
         value to the Acquired Company;

                  (i) material change in the accounting methods used by the
         Acquired Company; or

                  (j) agreement, whether oral or written, by the Acquired
         Company to do any of the foregoing.

         3.17     Contracts; No Defaults.

                  (a) Part 3.17(a) of the Disclosure Letter contains a complete
         and accurate list, and Sellers have delivered to Buyer true and
         complete copies, of:

                           (i) each Applicable Contract that involves
                  performance of services or delivery of goods or materials by
                  the Acquired Company;

                                       17

<PAGE>

                           (ii) each Applicable Contract that involves
                  performance of services or delivery of goods or materials to
                  the Acquired Company;

                           (iii) each Applicable Contract that was not entered
                  into in the Ordinary Course of Business;

                           (iv) each lease, rental or occupancy agreement,
                  license, installment and conditional sale agreement, and other
                  Applicable Contract affecting the ownership of, leasing of,
                  title to, use of, or any leasehold or other interest in, any
                  real or personal property;

                           (v) each licensing agreement or other Applicable
                  Contract with respect to patents, trademarks, copyrights, or
                  other intellectual property, including agreements with current
                  or former employees, consultants, or contractors regarding the
                  appropriation or the non-disclosure of any of the Intellectual
                  Property Assets;

                           (vi) each collective bargaining agreement and other
                  Applicable Contract to or with any labor union or other
                  employee representative of a group of employees;

                           (vii) each joint venture, partnership, and other
                  Applicable Contract (however named) involving a sharing of
                  profits, losses, costs, or liabilities by the Acquired Company
                  with any other Person;

                           (viii) each Applicable Contract containing covenants
                  that in any way purport to restrict the business activity of
                  the Acquired Company or any Affiliate of the Acquired Company
                  or limit the freedom of the Acquired Company or any Affiliate
                  of the Acquired Company to engage in any line of business or
                  to compete with any Person;

                           (ix) each Applicable Contract providing for payments
                  to or by any Person based on sales, purchases, or profits,
                  other than direct payments for goods;

                           (x) each power of attorney that is currently
                  effective and outstanding;

                           (xi) each Applicable Contract entered into other than
                  in the Ordinary Course of Business that contains or provides
                  for an express undertaking by the Acquired Company to be
                  responsible for consequential damages;

                           (xii) each Applicable Contract for capital
                  expenditures in excess of Ten Thousand United States Dollars
                  ($10,000.00);

                                       18

<PAGE>

                           (xiii) each written warranty, guaranty, and or other
                  similar undertaking with respect to contractual performance
                  extended by the Acquired Company other than in the Ordinary
                  Course of Business; and

                           (xiv) each amendment, supplement, and modification
                  (whether oral or written) in respect of any of the foregoing.

         Part 3.17(a) of the Disclosure Letter sets forth reasonably complete
         details concerning such Contracts, including the parties to the
         Contracts, the amount of the remaining commitment of the Acquired
         Company under the Contracts, and the Acquired Company's office where
         details relating to the Contracts are located.

                  (b) Except as set forth in Part 3.17(b) of the Disclosure
         Letter:

                           (i) No Seller (and no Related Person of a Seller) has
                  or may acquire any rights under, and no Seller has or may
                  become subject to any obligation or liability under, any
                  Contract that relates to the business of, or any of the assets
                  owned or used by, the Acquired Company; and

                           (ii) no officer, director, agent, employee,
                  consultant, or contractor of the Acquired Company is bound by
                  any Contract that purports to limit the ability of such
                  officer, director, agent, employee, consultant, or contractor
                  to (A) engage in or continue any conduct, activity, or
                  practice relating to the business of the Acquired Company, or
                  (B) assign to the Acquired Company or to any other Person any
                  rights to any invention, improvement, or discovery.

                  (c) Except as set forth in Part 3.17(c) of the Disclosure
         Letter, each Contract identified or required to be identified in Part
         3.17(a) of the Disclosure Letter is in full force and effect and is
         valid and enforceable in accordance with its terms.

                  (d) Except as set forth in Part 3.17(d) of the Disclosure
         Letter:

                           (i) The Acquired Company is, and at all times has
                  been, in full compliance with all applicable terms and
                  requirements of each Contract under which the Acquired Company
                  has or had any obligation or liability or by which the
                  Acquired Company or any of the assets owned or used by the
                  Acquired Company is or was bound;

                           (ii) each other Person that has or had any obligation
                  or liability under any Contract under which the Acquired
                  Company has or had any rights is, and at all times has been,
                  in full compliance with all applicable terms and requirements
                  of such Contract;

                                       19

<PAGE>

                           (iii) no event has occurred or circumstance exists
                  that (with or without notice or lapse of time) may contravene,
                  conflict with, or result in a violation or breach of, or give
                  the Acquired Company or other Person the right to declare a
                  default or exercise any remedy under, or to accelerate the
                  maturity or performance of, or to cancel, terminate, or
                  modify, any Applicable Contract; and

                           (iv) the Acquired Company has not given to or
                  received from any other Person, at any time, any notice or
                  other communication (whether oral or written) regarding any
                  actual, alleged, possible, or potential violation or breach
                  of, or default under, any Contract.

                  (e) There are no renegotiations of, attempts to renegotiate,
         or outstanding rights to renegotiate any material amounts paid or
         payable to the Acquired Company under current or completed Contracts
         with any Person and no such Person has made written demand for such
         renegotiation.

                  (f) The Contracts relating to the sale, design, manufacture,
         or provision of products or services by the Acquired Company has been
         entered into in the Ordinary Course of Business and have been entered
         into without the commission of any act alone or in concert with any
         other Person, or any consideration having been paid or promised, that
         is or would be in violation of any Legal Requirement.

         3.18     Insurance.

                  (a) Sellers have delivered to Buyer:

                           (i) true and complete copies of all policies of
                  insurance to which the Acquired Company is a party or under
                  which the Acquired Company, or any official of the Acquired
                  Company, is or has been covered at any time;

                           (ii) true and complete copies of all pending
                  applications for policies of insurance; and

                           (iii) any statement by the auditor of the Acquired
                  Company's financial statements with regard to the adequacy of
                  such entity's coverage or of the reserves for claims.

                  (b) Part 3.18(b) of the Disclosure Letter describes:

                           (i) any self-insurance arrangement by or affecting
                  the Acquired Company, including any reserves established
                  thereunder;

                                       20

<PAGE>

                           (ii) any contract or arrangement, other than a policy
                  of insurance, for the transfer or sharing of any risk by the
                  Acquired Company; and

                           (iii) all obligations of the Acquired Company to
                  third parties with respect to insurance (including such
                  obligations under leases and service agreements) and
                  identifies the policy under which such coverage is provided.

                  (c) Part 3.18(c) of the Disclosure Letter sets forth, by year,
         for the current policy year and each of the preceding policy years:

                           (i) a summary of the loss experience under each
         policy;

                           (ii) a statement describing each claim under an
         insurance policy which sets forth:

                                    (A) the name of the claimant;

                                    (B) a description of the policy by insurer,
         type of insurance, and period of coverage; and

                                    (C) the amount and a brief description of
         the claim; and

                           (iii) a statement describing the loss experience for
                  all claims that were self-insured, including the number and
                  aggregate cost of such claims.

                  (d) Except as set forth on Part 3.18(d) of the Disclosure
         Letter:

                           (i) All policies to which the Acquired Company is a
                  party or that provide coverage to any Seller, the Acquired
                  Company, or any officer of the Acquired Company:

                                    (A) are valid, outstanding, and enforceable;

                                    (B) are issued by an insurer that is
                           financially sound and reputable;

                                    (C) taken together, provide adequate
                           insurance coverage for the assets and the operations
                           of the Acquired Company and for all risks to which
                           businesses such as the Acquired Company are normally
                           exposed;

                                       21

<PAGE>

                                    (D) are sufficient for compliance with all
                           Legal Requirements and Contracts to which the
                           Acquired Company is a party or by which it is bound;

                                    (E) will continue in full force and effect
                           following the consummation of the Contemplated
                           Transactions; and

                                    (F) do not provide for any retrospective
                           premium adjustment or other experienced-based
                           liability on the part of the Acquired Company.

                           (ii) No Seller or the Acquired Company has received
                  (A) any refusal of coverage or any notice that a defense will
                  be afforded with reservation of rights, or (B) any notice of
                  cancellation or any other indication that any insurance policy
                  is no longer in full force or effect or will not be renewed or
                  that the issuer of any policy is not willing or able to
                  perform its obligations thereunder.

                           (iii) The Acquired Company has paid all premiums due,
                  and have otherwise performed all of their respective
                  obligations, under each policy to which the Acquired Company
                  is a party or that provides coverage to the Acquired Company
                  or director thereof.

                           (iv) The Acquired Company has given notice to the
                  insurer of all claims that may be insured thereby.

         3.19     Environmental Matters.  Except as set forth in part 3.19 of
         the disclosure letter:

                  (a) The Acquired Company is, and at all times has been, in
         full compliance with, and has not been and is not in violation of or
         liable under, any Environmental Law. No Seller or the Acquired Company
         has any basis to expect, nor has any of them or any other Person for
         whose conduct they are or may be held to be responsible received, any
         actual or Threatened order, notice, or other communication from (i) any
         Governmental Body or private citizen acting in the public interest, or
         (ii) the current or prior owner or operator of any Facilities, of any
         actual or potential violation or failure to comply with any
         Environmental Law, or of any actual or Threatened obligation to
         undertake or bear the cost of any Environmental, Health, and Safety
         Liabilities with respect to any of the Facilities or any other
         properties or assets (whether real, personal, or mixed) in which
         Sellers or the Acquired Company has had an interest, or with respect to
         any property or Facility at or to which Hazardous Materials were
         generated, manufactured, refined, transferred, imported, used, or
         processed by Sellers, the Acquired Company, or any other Person for
         whose conduct they are or may be held responsible, or from which
         Hazardous Materials have been transported, treated, stored, handled,
         transferred, disposed, recycled, or received.

                                       22

<PAGE>

                  (b) There are no pending or, to the Knowledge of Sellers and
         the Acquired Company, Threatened claims, Encumbrances, or other
         restrictions of any nature, resulting from any Environmental, Health,
         and Safety Liabilities or arising under or pursuant to any
         Environmental Law, with respect to or affecting any of the Facilities
         or any other properties and assets (whether real, personal, or mixed)
         in which Sellers or the Acquired Company has or had an interest.

                  (c) No Seller or Acquired Company has any basis to expect, nor
         has any of them or any other Person for whose conduct they are or may
         be held responsible, received, any citation, directive, inquiry,
         notice, Order, summons, warning, or other communication that relates to
         Hazardous Activity, Hazardous Materials, or any alleged, actual, or
         potential violation or failure to comply with any Environmental Law, or
         of any alleged, actual, or potential obligation to undertake or bear
         the cost of any Environmental, Health, and Safety Liabilities with
         respect to any of the Facilities or any other properties or assets
         (whether real, personal, or mixed) in which Sellers or the Acquired
         Company had an interest, or with respect to any property or facility to
         which Hazardous Materials generated, manufactured, refined,
         transferred, imported, used, or processed by Sellers, the Acquired
         Company, or any other Person for whose conduct they are or may be held
         responsible, have been transported, treated, stored, handled,
         transferred, disposed, recycled, or received.

         3.20     Employees.

                  (a) Part 3.20 of the Disclosure Letter contains a complete and
         accurate list of the following information for each employee, official,
         or participant of the Acquired Company, including each employee on
         leave of absence or layoff status: employer; name; job title; current
         compensation paid or payable and any change in compensation since
         January 1, 2005; vacation accrued; and service credited for purposes of
         vesting and eligibility to participate under the Acquired Company's
         pension, retirement, profit-sharing, thrift-savings, deferred
         compensation, stock bonus, stock option, cash bonus, employee stock
         ownership (including investment credit or payroll stock ownership),
         severance pay, insurance, medical, welfare, or vacation plan, other
         Employee Pension Benefit Plan or Employee Welfare Benefit Plan, or any
         other employee benefit plan or any other plan.

                  (b) No employee or official of the Acquired Company is a party
         to, or is otherwise bound by, any agreement or arrangement, including
         any confidentiality, noncompetition, or proprietary rights agreement,
         between such employee or director and any other Person ("Proprietary
         Rights Agreement") that in any way adversely affects or will affect (i)
         the performance of his duties as an employee or director of the
         Acquired Companies, or (ii) the ability of the Acquired Company to
         conduct its business, including any Proprietary Rights Agreement with
         Sellers or the Acquired Company by any such employee or director.

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                  (c) Part 3.20 of the Disclosure Letter also contains a
         complete and accurate list of the following information for each
         retired employee or director of the Acquired Company, or their
         dependents, receiving benefits or scheduled to receive benefits in the
         future: name, pension benefit, pension option election, retiree medical
         insurance coverage, retiree life insurance coverage, and other
         benefits.

         3.21 Labor Relations; Compliance. The Acquired Company has not been and
is not a party to any collective bargaining or other labor Contract. The
Acquired Company has complied in all respects with all Legal Requirements
relating to employment, the payment of social security and similar taxes,
occupational safety and health, and other employee relations. The Acquired
Company is not liable for the payment of any compensation, damages, taxes,
fines, penalties, or other amounts, however designated, for failure to comply
with any of the applicable Legal Requirements.

         3.22     Intellectual Property.

                  (a) Intellectual Property Assets. The term "Intellectual
         Property Assets" includes:

                           (i) the name Athelea , all fictional business names,
                  trading names, registered and unregistered trademarks, service
                  marks, and applications (collectively, "Marks");

                           (ii) all patents, patent applications, and inventions
                  and discoveries that may be patentable (collectively,
                  "Patents");

                           (iii) all copyrights in both published works and
                  unpublished works (collectively, "Copyrights"); and

                           (iv) all know-how, trade secrets, confidential
                  information, software, technical information, data, process
                  technology, plans, drawings, and blue prints (collectively,
                  "Trade Secrets"); owned, used, or licensed by the Acquired
                  Company as licensee or licensor.

                  (b) Agreements. Part 3.22(b) of the Disclosure Letter contains
         a complete and accurate list and summary description, including any
         royalties paid or received by the Acquired Company, of all Contracts
         relating to the Intellectual Property Assets to which the Acquired
         Company is a party or by which the Acquired Company is bound There are
         no outstanding and, to Sellers' Knowledge, no Threatened disputes or
         disagreements with respect to any such agreement.

                                       24

<PAGE>

                  (c) Know-How Necessary for the Business.

                           (i) The Intellectual Property Assets are all those
                  necessary for the operation of the Acquired Company's
                  businesses as they are currently conducted and contemplated to
                  be conducted. The Acquired Company is the owner of all right,
                  title, and interest in and to each of the Intellectual
                  Property Assets, free and clear of all liens, security
                  interests, charges, encumbrances, equities, and other adverse
                  claims, and has the right to use without payment to a third
                  party all of the Intellectual Property Assets.

                           (ii) Except as set forth in Part 3.22(c) of the
                  Disclosure Letter, no employee of the Acquired Company has
                  entered into any Contract that restricts or limits in any way
                  the scope or type of work in which the employee may be engaged
                  or requires the employee to transfer, assign, or disclose
                  information concerning his work to anyone other than the
                  Acquired Company.

                  (d) Patents.

                           (i) Part 3.22(d) of the Disclosure Letter contains a
                  complete and accurate list and summary description of all
                  Patents. The Acquired Company is the owner of all right,
                  title, and interest in and to each of the Patents, free and
                  clear of all liens, security interests, charges, encumbrances,
                  entities, and other adverse claims.

                           (ii) All of the issued Patents are currently in
                  compliance with formal legal requirements (including payment
                  of filing, examination, and maintenance fees and proofs of
                  working or use), are valid and enforceable, and are not
                  subject to any maintenance fees or taxes or actions falling
                  due within ninety days after the Closing Date.

                           (iii) No Patent has been or is now involved in any
                  interference, reissue, reexamination, or opposition
                  proceeding. To Sellers' Knowledge, there is no potentially
                  interfering patent or patent application of any third party.

                           (iv) No Patent is infringed or, to Sellers'
                  Knowledge, has been challenged or threatened in any way. None
                  of the products manufactured and sold, nor any process or
                  know-how used, by the Acquired Company infringes or is alleged
                  to infringe any patent or other proprietary right of any other
                  Person.

                                       25

<PAGE>

                  (e)      Trademarks.

                           (i) Part 3.22(e) of Disclosure Letter contains a
                  complete and accurate list and summary description of all
                  Marks. The Acquired Company is the owner of all right, title,
                  and interest in and to each of the Marks, free and clear of
                  all liens, security interests, charges, encumbrances,
                  equities, and other adverse claims.

                           (ii) All Marks that have been registered are
                  currently in compliance with all formal legal requirements
                  (including the timely post-registration filing of affidavits
                  of use and incontestability and renewal applications), are
                  valid and enforceable, and are not subject to any maintenance
                  fees or taxes or actions falling due within ninety days after
                  the Closing Date.

                           (iii) No Mark has been or is now involved in any
                  opposition, invalidation, or cancellation and, to Sellers'
                  Knowledge, no such action is Threatened with the respect to
                  any of the Marks.

                           (iv) To Sellers' Knowledge, there is no potentially
                  interfering trademark or trademark application of any third
                  party.

                           (v) No Mark is infringed or, to Sellers' Knowledge,
                  has been challenged or threatened in any way. None of the
                  Marks used by the Acquired Company infringes or is alleged to
                  infringe any trade name, trademark, or service mark of any
                  third party.

                  (f)      Copyrights.

                           (i) Part 3.22(f) of the Disclosure Letter contains a
                  complete and accurate list and summary description of all
                  Copyrights. The Acquired Company is the owner of all right,
                  title, and interest in and to each of the Copyrights, free and
                  clear of all liens, security interests, charges, encumbrances,
                  equities, and other adverse claims.

                           (ii) All the Copyrights have been registered and are
                  currently in compliance with formal legal requirements, are
                  valid and enforceable, and are not subject to any maintenance
                  fees or taxes or actions falling due within ninety days after
                  the date of Closing.

                           (iii) No Copyright is infringed or, to Sellers'
                  Knowledge, has been challenged or threatened in any way. None
                  of the subject matter of any of the Copyrights infringes or is
                  alleged to infringe any copyright of any third party or is a
                  derivative work based on the work of a third party.

                           (iv) All works encompassed by the Copyrights have
                  been marked with the proper copyright notice.

                                       26

<PAGE>

                  (g) Trade Secrets.

                           (i) With respect to each Trade Secret, the
                  documentation relating to such Trade Secret is current,
                  accurate, and sufficient in detail and content to identify and
                  explain it and to allow its full and proper use without
                  reliance on the knowledge or memory of any individual.

                           (ii) Sellers and the Acquired Company have taken all
                  reasonable precautions to protect the secrecy,
                  confidentiality, and value of their Trade Secrets.

                           (iii) The Acquired Company has good title and an
                  absolute right to use the Trade Secrets. The Trade Secrets are
                  not part of the public knowledge or literature, and, to
                  Sellers' Knowledge, have not been used, divulged, or
                  appropriated either for the benefit of any Person (other than
                  the Acquired Company) or to the detriment of the Acquired
                  Company. No Trade Secret is subject to any adverse claim or
                  has been challenged or threatened in any way.

         3.23 Certain Payments. Neither the Acquired Company nor any
participant, officer, agent, or employee of the Acquired Company, or any other
Person associated with or acting for or on behalf of the Acquired Company, has
directly or indirectly (a) made any contribution, gift, bribe, rebate, payoff,
influence payment, kickback, or other payment to any Person, private or public,
regardless of form, whether in money, property, or services (i) to obtain
favorable treatment in securing business, (ii) to pay for favorable treatment
for business secured, (iii) to obtain special concessions or for special
concessions already obtained, for or in respect of the Acquired Company or any
Affiliate of the Acquired Company, or (iv) in violation of any Legal
Requirement, (b) established or maintained any fund or asset that has not been
recorded in the books and records of the Acquired Companies.

         3.24     Disclosure.

                  (a) No representation or warranty of Sellers in this Agreement
         and no statement in the Disclosure Letter omits to state a material
         fact necessary to make the statements herein or therein, in light of
         the circumstances in which they were made, not misleading.

                  (b) No notice given pursuant to Section 5.5 will contain any
         untrue statement or omit to state a material fact necessary to make the
         statements therein or in this Agreement, in light of the circumstances
         in which they were made, not misleading.

                                       27

<PAGE>

                  (c) There is no fact known to either Seller that has specific
         application to any Seller or the Acquired Company (other than general
         economic or industry conditions) and that materially adversely affects
         the assets, business, prospects, financial condition, or results of
         operations of the Acquired Companies (on a consolidated basis) that has
         not been set forth in this Agreement or the Disclosure Letter.

         3.25 Relationships with Related Persons. No Seller or any Related
Person of Sellers or of the Acquired Company has, or since has had, any interest
in any property (whether real, personal, or mixed and whether tangible or
intangible), used in or pertaining to the Acquired Company's businesses. No
Seller or any Related Person of Sellers or of the Acquired Company is, or since
has owned (of record or as a beneficial owner) an equity interest or any other
financial or profit interest in, a Person that has (i) had business dealings or
a material financial interest in any transaction with the Acquired Company, or
(ii) engaged in competition with the Acquired Company with respect to any line
of activities of the Acquired Company (a "Competing Business") in any market
presently served by the Acquired Company. Except as set forth in Part 3.25 of
the Disclosure Letter, no Seller or any Related Person of Sellers or of the
Acquired Company is a party to any Contract with, or has any claim or right
against, the Acquired Company.

         3.26 Brokers or Finders. Sellers and their agents have incurred no
obligation or liability, contingent or otherwise, for brokerage or finders' fees
or agents' commissions or other similar payment in connection with this
Agreement.

4. REPRESENTATIONS AND WARRANTIES OF BUYER. Buyer represents and warrants to
Sellers as follows:

         4.1 Organization and Good Standing. Buyer is a limited liability
company duly organized, validly existing, and in good standing under the laws of
the State of Delaware, USA.

         4.2      Authority; No Conflict.

                  (a) This Agreement constitutes the legal, valid, and binding
         obligation of Buyer, enforceable against Buyer in accordance with its
         terms. Upon the execution and delivery by Buyer of the Escrow Agreement
         and the Promissory Notes (collectively, the "Buyer's Closing
         Documents"), the Buyer's Closing Documents will constitute the legal,
         valid, and binding obligations of Buyer, enforceable against Buyer in
         accordance with their respective terms. Buyer has the absolute and
         unrestricted right, power, and authority to execute and deliver this
         Agreement and the Buyer's Closing Documents and to perform its
         obligations under this Agreement and the Buyer's Closing Documents.

                  (b) Except as set forth in Schedule 4.2, neither the execution
         nor delivery of this Agreement by Buyer nor the consummation or
         performance of any of the Contemplated Transactions by Buyer will give
         any Person the right to prevent, delay, or otherwise interfere with any
         of the Contemplated Transactions pursuant to:

                                       28

<PAGE>

                           (i) any provision of Buyer's Organizational
         Documents;

                           (ii) any resolution adopted by the board of directors
         or the stockholders of Buyer;

                           (iii) any Legal Requirement or Order to which Buyer
         may be subject; or

                           (iv) any Contract to which Buyer is a party or by
         which Buyer may be bound.

         Except as set forth in Schedule 4.2, Buyer is not and will not be
         required to obtain any Consent from any Person in connection with the
         execution and delivery of this Agreement or the consummation or
         performance of any of the Contemplated Transactions.

         4.3      Investment Intent.  Buyer is acquiring the Shares for its own
         account.

         4.4 Certain Proceedings. There is no pending Proceeding that has been
commenced against Buyer and that challenges, or may have the effect of
preventing, delaying, making illegal, or otherwise interfering with, any of the
Contemplated Transactions. To Buyer's Knowledge, no such Proceeding has been
threatened.

         4.5 Brokers or Finders. Buyer and its officers and agents have incurred
no obligation or liability, contingent or otherwise, for brokerage or finders'
fees or agents' commissions or other similar payment in connection with this
Agreement and will indemnify and hold Sellers harmless from any such payment
alleged to be due by or through Buyer as a result of the action of Buyer or its
officers or agents.

5.       COVENANTS OF SELLERS PRIOR TO CLOSING DATE.

         5.1 Access and investigation. Between the date of this Agreement and
the Closing Date, Sellers will, and will cause the Acquired Company and its
Representatives to, (a) afford Buyer and its Representatives and prospective
lenders and their Representatives (collectively, "Buyer's Advisors") full and
free access to the Acquired Company's personnel, properties (including
subsurface testing), contracts, books and records, and other documents and data,
(b) furnish Buyer and Buyer's Advisors with copies of all such contracts, books
and records, and other existing documents and data as Buyer may reasonably
request, and (c) furnish Buyer and Buyer's Advisors with such additional
financial, operating, and other data and information as Buyer may reasonably
request.

                                       29

<PAGE>

         5.2 Operation of the Businesses of the Acquired Company. Between the
date of this Agreement and the Closing Date, Sellers will, and will cause the
Acquired Company to:

                  (a) conduct the business of such Acquired Company only in the
         Ordinary Course of Business;

                  (b) use their Best Efforts to preserve intact the current
         business organization of such Acquired Company, keep available the
         services of the current officers, employees, and agents of the Acquired
         Company, and maintain the relations and good will with suppliers,
         customers, landlords, creditors, employees, agents, and others having
         business relationships with the Acquired Company;

                  (c) confer with Buyer concerning operational matters of a
         material nature; and

                  (d) otherwise report periodically to Buyer concerning the
         status of the business, operations, and finances of the Acquired
         Company.

         5.3 Negative Covenant. Except as otherwise expressly permitted by this
Agreement, between the date of this Agreement and the Closing Date, Sellers will
not, and will cause the Acquired Company not to, without the prior consent of
Buyer, take any affirmative action, or fail to take any reasonable action within
their or its control, as a result of which any of the changes or events listed
in Section 3.16 is likely to occur.

         5.4 Required Approvals. As promptly as practicable after the date of
this Agreement, Sellers will, and will cause each Acquired Company to, make all
filings required by Legal Requirements to be made by them in order to consummate
the Contemplated Transactions. Between the date of this Agreement and the
Closing Date, Sellers will, and will cause each Acquired Company to, (a)
cooperate with Buyer with respect to all filings that Buyer elects to make or is
required by Legal Requirements to make in connection with the Contemplated
Transactions, and (b) cooperate with Buyer in obtaining all consents identified
in Schedule 4.2.

         5.5 Notification. Between the date of this Agreement and the Closing
Date, each Seller will promptly notify Buyer in writing if such Seller or the
Acquired Company becomes aware of any fact or condition that causes or
constitutes a Breach of any of Sellers' representations and warranties as of the
date of this Agreement, or if such Seller or the Acquired Company becomes aware
of the occurrence after the date of this Agreement of any fact or condition that
would (except as expressly contemplated by this Agreement) cause or constitute a
Breach of any such representation or warranty had such representation or
warranty been made as of the time of occurrence or discovery of such fact or
condition. Should any such fact or condition require any change in the
Disclosure Letter if the Disclosure Letter were dated the date of the occurrence
or discovery of any such fact or condition, Sellers will promptly deliver to
Buyer a supplement to the Disclosure Letter specifying such change. During the
same period, each Seller will promptly notify Buyer of the occurrence of any
Breach of any covenant of Sellers in this Section 5 or of the occurrence of any
event that may make the satisfaction of the conditions in Section 7 impossible
or unlikely.

                                       30

<PAGE>

         5.6 Payment of Indebtedness by Related Persons. Except as expressly
provided in this Agreement, Sellers will cause all indebtedness owed the
Acquired Company by any Seller or any Related Person of a Seller to be paid in
full prior to Closing.

         5.7 No Negotiation. Until such time, if any, as this Agreement is
terminated pursuant to Section 9, Sellers will not, and will cause the Acquired
Company and each of its Representatives not to, directly or indirectly solicit,
initiate, or encourage any inquiries or proposals from, discuss or negotiate
with, provide any non-public information to, or consider the merits of any
unsolicited inquiries or proposals from, any Person (other than Buyer) relating
to any transaction involving the sale of the business or assets (other than in
the Ordinary Course of Business) of the Acquired Company, or any of the capital
of the Acquired Company, or any merger, consolidation, business combination, or
similar transaction involving the Acquired Company.

         5.8 Best Efforts. Between the date of this Agreement and the Closing
Date, Sellers will use their Best Efforts to cause the conditions in Sections 7
and 8 to be satisfied.

6. COVENANTS OF BUYER PRIOR TO CLOSING DATE.

         6.1 Approvals of Governmental Bodies. As promptly as practicable after
the date of this Agreement, Buyer will, and will cause each of its Related
Persons to, make all filings required by Legal Requirements to be made by them
to consummate the Contemplated Transactions. Between the date of this Agreement
and the Closing Date, Buyer will, and will cause each Related Person to, (i)
cooperate with Sellers with respect to all filings that Sellers are required by
Legal Requirements to make in connection with the Contemplated Transactions, and
(ii) cooperate with Sellers in obtaining all consents identified in Part 3.2 of
the Disclosure Letter; provided that this Agreement will not require Buyer to
dispose of or make any change in any portion of its business or to incur any
other burden to obtain a Governmental Authorization.

         6.2 Best Efforts. Except as set forth in the provision to Section 6.1,
between the date of this Agreement and the Closing Date, Buyer will use its Best
Efforts to cause the conditions in Sections 7 and 8 to be satisfied.

7. CONDITIONS PRECEDENT TO BUYER'S OBLIGATION TO CLOSE. Buyer's obligation to
purchase the Shares and to take the other actions required to be taken by Buyer
at the Closing is subject to the satisfaction, at or prior to the Closing, of
each of the following conditions (any of which may be waived by Buyer, in whole
or in part):

                                       31

<PAGE>

         7.1      Accuracy of Representations.

                  (a) All of Sellers' representations and warranties in this
         Agreement (considered collectively), and each of these representations
         and warranties (considered individually), must have been accurate in
         all material respects as of the date of this Agreement, and must be
         accurate in all material respects as of the Closing Date as if made on
         the Closing Date, without giving effect to any supplement to the
         Disclosure Letter.

                  (b) Each of Sellers' representations and warranties in
         Sections must have been accurate in all respects as of the date of this
         Agreement, and must be accurate in all respects as of the Closing Date
         as if made on the Closing Date, without giving effect to any supplement
         to the Disclosure Letter.

         7.2      Sellers' Performance.

                  (a) All of the covenants and obligations that Sellers are
         required to perform or to comply with pursuant to this Agreement at or
         prior to the Closing (considered collectively), and each of these
         covenants and obligations (considered individually), must have been
         duly performed and complied with in all material respects.

                  (b) Each document required to be delivered pursuant to Section
         2.4 must have been delivered, and each of the other covenants and
         obligations in Sections must have been performed and complied with in
         all respects.

         7.3 Consents. Each of the Consents identified in the Disclosure Letter,
and each Consent identified in Schedule 4.2, must have been obtained and must be
in full force and effect.

         7.4      Additional Documents.  Sellers must have delivered additional
documents reasonably by Buyers:

         7.5 No Proceedings. Since the date of this Agreement, there must not
have been commenced or Threatened against Buyer, or against any Person
affiliated with Buyer, any Proceeding (a) involving any challenge to, or seeking
damages or other relief in connection with, any of the Contemplated
Transactions, or (b) that may have the effect of preventing, delaying, making
illegal, or otherwise interfering with any of the Contemplated Transactions.

         7.6 No Claim Regarding Stock Ownership or Sale Proceeds. There must not
have been made or Threatened by any Person any claim asserting that such Person
(a) is the holder or the beneficial owner of, or has the right to acquire or to
obtain beneficial ownership of, any stock of, or any other voting, equity, or
ownership interest in, the Acquired Company, or (b) is entitled to all or any
portion of the Purchase Price payable for the Shares.

                                       32

<PAGE>

         7.7 No Prohibition. Neither the consummation nor the performance of any
of the Contemplated Transactions will, directly or indirectly (with or without
notice or lapse of time), materially contravene, or conflict with, or result in
a material violation of, or cause Buyer or any Person affiliated with Buyer to
suffer any material adverse consequence under, (a) any applicable Legal
Requirement or Order, or (b) any Legal Requirement or Order that has been
published, introduced, or otherwise proposed by or before any Governmental Body.

8. CONDITIONS PRECEDENT TO SELLERS' OBLIGATION TO CLOSE. Sellers' obligation to
sell the Shares and to take the other actions required to be taken by Sellers at
the Closing is subject to the satisfaction, at or prior to the Closing, of each
of the following conditions (any of which may be waived by Sellers, in whole or
in part):

         8.1 Accuracy of Representations. All of Buyer's representations and
warranties in this Agreement (considered collectively), and each of these
representations and warranties (considered individually), must have been
accurate in all material respects as of the date of this Agreement and must be
accurate in all material respects as of the Closing Date as if made on the
Closing Date.

         8.2      Buyer's Performance.

                  (a) All of the covenants and obligations that Buyer is
         required to perform or to comply with pursuant to this Agreement at or
         prior to the Closing (considered collectively), and each of these
         covenants and obligations (considered individually), must have been
         performed and complied with in all material respects.

                  (b) Buyer must have delivered each of the documents required
         to be delivered by Buyer pursuant to Section 2.4 and must have made the
         cash payments required to be made by Buyer pursuant to Sections
         2.4(b)(i) and 2.4(b)(ii).

         8.3      Consents.  Each of the Consents identified in the Disclosure
Letter must have been obtained and must be in full force and effect.

         8.4      Additional Documents.  Buyer must have delivered to Sellers
additional documents reasonably requested by Sellers.

         8.5 No Injunction. There must not be in effect any Legal Requirement or
any injunction or other Order that (a) prohibits the sale of the Shares by
Sellers to Buyer, and (b) has been adopted or issued, or has otherwise become
effective, since the date of this Agreement.

                                       33

<PAGE>

9.       TERMINATION.

         9.1      Termination Events.  This Agreement may, by notice given prior
to or at the Closing, be terminated:

                  (a) by either Buyer or Sellers if a material Breach of any
         provision of this Agreement has been committed by the other party and
         such Breach has not been waived;

                  (b) (i) by Buyer if any of the conditions in Section 7 has not
         been satisfied as of the Closing Date or if satisfaction of such a
         condition is or becomes impossible (other than through the failure of
         Buyer to comply with its obligations under this Agreement) and Buyer
         has not waived such condition on or before the Closing Date; or (ii) by
         Sellers, if any of the conditions in Section 8 has not been satisfied
         of the Closing Date or if satisfaction of such a condition is or
         becomes impossible (other than through the failure of Sellers to comply
         with their obligations under this Agreement) and Sellers have not
         waived such condition on or before the Closing Date;

                  (c) by mutual consent of Buyer and Sellers; or

                  (d) by either Buyer or Sellers if the Closing has not occurred
         (other than through the failure of any party seeking to terminate this
         Agreement to comply fully with its obligations under this Agreement) on
         or before December 31, 2005, or such later date as the parties may
         agree upon.

         9.2 Effect of Termination. Each party's right of termination under
Section 9.1 is in addition to any other rights it may have under this Agreement
or otherwise, and the exercise of a right of termination will not be an election
of remedies. If this Agreement is terminated pursuant to Section 9.1, all
further obligations of the parties under this Agreement will terminate, except
that the obligations in Sections 11.1 and 11.3 will survive; provided, however,
that if this Agreement is terminated by a party because of the Breach of the
Agreement by the other party or because one or more of the conditions to the
terminating party's obligations under this Agreement is not satisfied as a
result of the other party's failure to comply with its obligations under this
Agreement, the terminating party's right to pursue all legal remedies will
survive such termination unimpaired.

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<PAGE>

10.      INDEMNIFICATION; REMEDIES.

         10.1 Survival; Right to Indemnification not Affected by Knowledge. All
representations, warranties, covenants, and obligations in this Agreement, the
Disclosure Letter, the supplements to the Disclosure Letter, the certificate
delivered pursuant to Section 2.4(a)(v), and any other certificate or document
delivered pursuant to this Agreement will survive the Closing. The right to
indemnification, payment of Damages or other remedy based on such
representations, warranties, covenants, and obligations will not be affected by
any investigation conducted with respect to, or any Knowledge acquired (or
capable of being acquired) at any time, whether before or after the execution
and delivery of this Agreement or the Closing Date, with respect to the accuracy
or inaccuracy of or compliance with, any such representation, warranty,
covenant, or obligation. The waiver of any condition based on the accuracy of
any representation or warranty, or on the performance of or compliance with any
covenant or obligation, will not affect the right to indemnification, payment of
Damages, or other remedy based on such representations, warranties, covenants,
and obligations.

         10.2 Indemnification and Payment of Damages by Sellers. Sellers,
jointly and severally, will indemnify and hold harmless Buyer, the Acquired
Company, and their respective Representatives, stockholders, controlling
persons, and affiliates (collectively, the "Indemnified Persons") for, and will
pay to the Indemnified Persons the amount of, any loss, liability, claim, damage
(including incidental and consequential damages), expense (including costs of
investigation and defense and reasonable attorneys' fees) or diminution of
value, whether or not involving a third-party claim (collectively, "Damages"),
arising, directly or indirectly, from or in connection with:

                  (a) any Breach of any representation or warranty made by
         Sellers in this Agreement (without giving effect to any supplement to
         the Disclosure Letter), the Disclosure Letter, the supplements to the
         Disclosure Letter, or any other certificate or document delivered by
         Sellers pursuant to this Agreement;

                  (b) any Breach of any representation or warranty made by
         Sellers in this Agreement as if such representation or warranty were
         made on and as of the Closing Date without giving effect to any
         supplement to the Disclosure Letter, other than any such Breach that is
         disclosed in a supplement to the Disclosure Letter and is expressly
         identified in the certificate delivered pursuant to Section 2.4(a)(v)
         as having caused the condition specified in Section 7.1 not to be
         satisfied;

                  (c) any Breach by either Seller of any covenant or obligation
         of such Seller in this Agreement;

                  (d) any product shipped or manufactured by, or any services
         provided by, the Acquired Company prior to the Closing Date;

                  (e) any matter disclosed in the Disclosure Letter; or

                  (f) any claim by any Person for brokerage or finder's fees or
         commissions or similar payments based upon any agreement or
         understanding alleged to have been made by any such Person with either
         Seller or the Acquired Company (or any Person acting on their behalf)
         in connection with any of the Contemplated Transactions.

                                       35

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The remedies provided in this Section 10.2 will not be exclusive of or limit any
other remedies that may be available to Buyer or the other Indemnified Persons.
The Buyer also has the right of set off against any royalty payments.

         10.3 Indemnification and Payment of Damages by Buyer. Buyer will
indemnify and hold harmless Sellers, and will pay to Sellers the amount of any
Damages arising, directly or indirectly, from or in connection with (a) any
Breach of any representation or warranty made by Buyer in this Agreement or in
any certificate delivered by Buyer pursuant to this Agreement, (b) any Breach by
Buyer of any covenant or obligation of Buyer in this Agreement, or (c) any claim
by any Person for brokerage or finder's fees or commissions or similar payments
based upon any agreement or understanding alleged to have been made by such
Person with Buyer (or any Person acting on its behalf) in connection with any of
the Contemplated Transactions.

         10.5 Time Limitations. If the Closing occurs, Sellers will have no
liability (for indemnification or otherwise) with respect to any representation
or warranty, or covenant or obligation to be performed and complied with prior
to the Closing Date, other than those in Sections 3.3, 3.11, 3.13, and 3.19,
unless on or before January 1, 2007 Buyer notifies Sellers of a claim specifying
the factual basis of that claim in reasonable detail to the extent then known by
Buyer; a claim with respect to Section 3.3, 3.11, 3.13, or 3.19, or a claim for
indemnification or reimbursement not based upon any representation or warranty
or any covenant or obligation to be performed and complied with prior to the
Closing Date, may be made at any time. If the Closing occurs, Buyer will have no
liability (for indemnification or otherwise) with respect to any representation
or warranty, or covenant or obligation to be performed and complied with prior
to the Closing Date

         10.6     Procedure for Indemnification--Third Party Claims.

                  (a) Promptly after receipt by an indemnified party under
         Section 10.2, 10.4, or (to the extent provided in the last sentence of
         Section 10.3) Section 10.3 of notice of the commencement of any
         Proceeding against it, such indemnified party will, if a claim is to be
         made against an indemnifying party under such Section, give notice to
         the indemnifying party of the commencement of such claim, but the
         failure to notify the indemnifying party will not relieve the
         indemnifying party of any liability that it may have to any indemnified
         party, except to the extent that the indemnifying party demonstrates
         that the defense of such action is prejudiced by the indemnifying
         party's failure to give such notice.

                                       36

<PAGE>

                  (b) If any Proceeding is brought against an indemnified party
         and it gives notice to the indemnifying party of the commencement of
         such Proceeding, the indemnifying party will, unless the claim involves
         Taxes, be entitled to participate in such Proceeding and, to the extent
         that it wishes (unless (i) the indemnifying party is also a party to
         such Proceeding and the indemnified party determines in good faith that
         joint representation would be inappropriate, or (ii) the indemnifying
         party fails to provide reasonable assurance to the indemnified party of
         its financial capacity to defend such Proceeding and provide
         indemnification with respect to such Proceeding), to assume the defense
         of such Proceeding with counsel satisfactory to the indemnified party
         and, after notice from the indemnifying party to the indemnified party
         of its election to assume the defense of such Proceeding, the
         indemnifying party will not, as long as it diligently conducts such
         defense, be liable to the indemnified party under this Section 10 for
         any fees of other counsel or any other expenses with respect to the
         defense of such Proceeding, in each case subsequently incurred by the
         indemnified party in connection with the defense of such Proceeding,
         other than reasonable costs of investigation. If the indemnifying party
         assumes the defense of a Proceeding, (i) it will be conclusively
         established for purposes of this Agreement that the claims made in that
         Proceeding are within the scope of and subject to indemnification; (ii)
         no compromise or settlement of such claims may be effected by the
         indemnifying party without the indemnified party's consent unless (A)
         there is no finding or admission of any violation of Legal Requirements
         or any violation of the rights of any Person and no effect on any other
         claims that may be made against the indemnified party, and (B) the sole
         relief provided is monetary damages that are paid in full by the
         indemnifying party; and (iii) the indemnified party will have no
         liability with respect to any compromise or settlement of such claims
         effected without its consent. If notice is given to an indemnifying
         party of the commencement of any Proceeding and the indemnifying party
         does not, within ten days after the indemnified party's notice is
         given, give notice to the indemnified party of its election to assume
         the defense of such Proceeding, the indemnifying party will be bound by
         any determination made in such Proceeding or any compromise or
         settlement effected by the indemnified party.

                  (c) Notwithstanding the foregoing, if an indemnified party
         determines in good faith that there is a reasonable probability that a
         Proceeding may adversely affect it or its affiliates other than as a
         result of monetary damages for which it would be entitled to
         indemnification under this Agreement, the indemnified party may, by
         notice to the indemnifying party, assume the exclusive right to defend,
         compromise, or settle such Proceeding, but the indemnifying party will
         not be bound by any determination of a Proceeding so defended or any
         compromise or settlement effected without its consent (which may not be
         unreasonably withheld).

                  (d) Sellers hereby consent to the non-exclusive jurisdiction
         of any court in which a Proceeding is brought against any Indemnified
         Person for purposes of any claim that an Indemnified Person may have
         under this Agreement with respect to such Proceeding or the matters
         alleged therein, and agree that process may be served on Sellers with
         respect to such a claim anywhere in the world.

                                       37

<PAGE>

         10.7 Procedure for Indemnification--Other Claims. A claim for
indemnification for any matter not involving a third-party claim may be asserted
by notice to the party from whom indemnification is sought.

11.      GENERAL PROVISIONS.

         11.1 Expenses. Except as otherwise expressly provided in this
Agreement, each party to this Agreement will bear its respective expenses
incurred in connection with the preparation, execution, and performance of this
Agreement and the Contemplated Transactions, including all fees and expenses of
agents, representatives, counsel, and accountants in connection with this
Agreement and the Contemplated Transactions. Sellers will cause the Acquired
Companies not to incur any out-of-pocket expenses in connection with this
Agreement. In the event of termination of this Agreement, the obligation of each
party to pay its own expenses will be subject to any rights of such party
arising from a breach of this Agreement by another party.

         11.2 Public Announcements. Any public announcement or similar publicity
with respect to this Agreement or the Contemplated Transactions will be issued,
if at all, at such time and in such manner as Buyer determines. Unless consented
to by Buyer in advance or required by Legal Requirements, prior to the Closing
Sellers shall, and shall cause the Acquired Company to, keep this Agreement
strictly confidential and may not make any disclosure of this Agreement to any
Person. Sellers and Buyer will consult with each other concerning the means by
which the Acquired Company's employees, customers, and suppliers and others
having dealings with the Acquired Companies will be informed of the Contemplated
Transactions, and Buyer will have the right to be present for any such
communication.

         11.3 Confidentiality. Between the date of this Agreement and the
Closing Date, Sellers will maintain in confidence, and will cause the officers,
employees, agents, and advisors of Buyer and the Acquired Company to maintain in
confidence this Agreement or the Contemplated Transactions, unless (a) such
information is already known to such party or to others not bound by a duty of
confidentiality or such information becomes publicly available through no fault
of such party, (b) the use of such information is necessary or appropriate in
making any filing or obtaining any consent or approval required for the
consummation of the Contemplated Transactions, or (c) the furnishing or use of
such information is required by legal proceedings.

         11.4 Notices. All notices, consents, waivers, and other communications
under this Agreement must be in writing and will be deemed to have been duly
given when (a) delivered by hand (with written confirmation of receipt), (b)
sent by fax (with written confirmation of receipt), provided that a copy is
mailed by registered mail, return receipt requested, or (c) when received by the
addressee, if sent by a nationally recognized overnight delivery service
(receipt requested), in each case to the appropriate addresses and fax numbers
set forth below (or to such other addresses and fax numbers as a party may
designate by notice to the other parties):

                                       38

<PAGE>

         11.5 Arbitration ;Jurisdiction; Service of Process. The Parties
acknowledge that they are entering into and shall perform under this Agreement
in good faith, and any disputes will be resolved in good faith, with the letter
and spirit of this Agreement as the standard. The Parties will use their best
efforts to resolve any disputes between themselves within thirty (30) days.
During this thirty (30) day period, any party with ten (10) days' notice may
request and the other party must agree to meet in good faith to resolve the
dispute. After thirty day's effort, if a dispute is not resolved, any party may
refer the dispute for final settlement to and in accord with under the
Commercial Rules of the American Arbitration Association (the "Rules") by a
panel of three (3) arbitrators. In the case of any matter to be settled under
the Rules, each party hereto shall appoint one arbitrator and such two
arbitrators shall appoint a third arbitrator; provided, that if all three
arbitrators have not been appointed within thirty (30) days after the party
submitting the matter in dispute has notified the other party of such
submission, either party hereto may apply to the International Chamber of
Commerce for appointment of the remaining arbitrators. The place of arbitration
of any matter to be settled under the Rules shall be in New York City or at such
other place as the parties shall unanimously choose. On a case-by-case basis,
the parties may also agree to alternative dispute resolution methods. Such an
Agreement must be in writing and signed by both parties.

         11.6 Applicable Law, Enforcement. This Agreement is an international
agreement and shall be governed and construed in accordance with the substantive
laws of New York, without regard to conflict of laws provisions. Each party
hereto hereby irrevocably and unconditionally agrees that any action to enforce
a decision rendered in an arbitration proceeding described in Article 8 may be
instituted (i) in Armenian courts, (ii) in the courts of the State of New York,
the courts of the United States of America for the Southern District of New
York, and appellate courts thereof, or (iii) in the courts of the United Kingdom
and hereby irrevocably and unconditionally waives, to the fullest extent
permitted by applicable law, any objection of the convenience of the forum of
any such legal suit, action or proceeding and irrevocably submits generally and
unconditionally to the jurisdiction in any such court in any suit, action or
proceeding.

         11.7 Further Assurances. The parties agree (a) to furnish upon request
to each other such further information, (b) to execute and deliver to each other
such other documents, and (c) to do such other acts and things, all as the other
party may reasonably request for the purpose of carrying out the intent of this
Agreement and the documents referred to in this Agreement.

         11.8 Waiver. The rights and remedies of the parties to this Agreement
are cumulative and not alternative. Neither the failure nor any delay by any
party in exercising any right, power, or privilege under this Agreement or the
documents referred to in this Agreement will operate as a waiver of such right,
power, or privilege, and no single or partial exercise of any such right, power,
or privilege will preclude any other or further exercise of such right, power,
or privilege or the exercise of any other right, power, or privilege. To the
maximum extent permitted by applicable law, (a) no claim or right arising out of
this Agreement or the documents referred to in this Agreement can be discharged
by one party, in whole or in part, by a waiver or renunciation of the claim or
right unless in writing signed by the other party; (b) no waiver that may be
given by a party will be applicable except in the specific instance for which it
is given; and (c) no notice to or demand on one party will be deemed to be a
waiver of any obligation of such party or of the right of the party giving such
notice or demand to take further action without notice or demand as provided in
this Agreement or the documents referred to in this Agreement.

                                       39

<PAGE>

         11.9 Entire Agreement and Modification. This Agreement supersedes all
prior agreements between the parties with respect to its subject matter and
constitutes (along with the documents referred to in this Agreement) a complete
and exclusive statement of the terms of the agreement between the parties with
respect to its subject matter. This Agreement may not be amended except by a
written agreement executed by the party to be charged with the amendment.

         11.10    Disclosure Letter.

                  (a) The disclosures in the Disclosure Letter, and those in any
         Supplement thereto, must relate only to the representations and
         warranties in the Section of the Agreement to which they expressly
         relate and not to any other representation or warranty in this
         Agreement.

                  (b) In the event of any inconsistency between the statements
         in the body of this Agreement and those in the Disclosure Letter (other
         than an exception expressly set forth as such in the Disclosure Letter
         with respect to a specifically identified representation or warranty),
         the statements in the body of this Agreement will control.

         11.11 Assignments, Successors and No Third Party Rights. Neither party
may assign any of its rights under this Agreement without the prior consent of
the other parties, which will not be unreasonably withheld, except that Buyer
may assign any of its rights under this Agreement to any Subsidiary of Buyer.
Subject to the preceding sentence, this Agreement will apply to, be binding in
all respects upon, and inure to the benefit of the successors and permitted
assigns of the parties. Nothing expressed or referred to in this Agreement will
be construed to give any Person other than the parties to this Agreement any
legal or equitable right, remedy, or claim under or with respect to this
Agreement or any provision of this Agreement. This Agreement and all of its
provisions and conditions are for the sole and exclusive benefit of the parties
to this Agreement and their successors and assigns.

         11.12 Severability. If any provision of this Agreement is held invalid
or unenforceable by any court of competent jurisdiction, the other provisions of
this Agreement will remain in full force and effect. Any provision of this
Agreement held invalid or unenforceable only in part or degree will remain in
full force and effect to the extent not held invalid or unenforceable.

                                       40

<PAGE>

         11.13 Section Headings, Construction. The headings of Sections in this
Agreement are provided for convenience only and will not affect its construction
or interpretation. All references to "Section" or "Sections" refer to the
corresponding Section or Sections of this Agreement. All words used in this
Agreement will be construed to be of such gender or number as the circumstances
require. Unless otherwise expressly provided, the word "including" does not
limit the preceding words or terms.

         11.14    Time of Essence.  With regard to all dates and time periods
set forth or referred to in this Agreement, time is of the essence.

         11.15 Counterparts. This Agreement may be executed in one or more
counterparts, each of which will be deemed to be an original copy of this
Agreement and all of which, when taken together, will be deemed to constitute
one and the same agreement.

IN WITNESS WHEREOF, the parties have executed and delivered this Agreement as of
the date first written above.

Global Gold Mining, LLC                     Athelea Investments, CJSC

By:_____________________                    By:_______________________
     Van Z. Krikorian, Manager

-------------------------                   --------------------------
Simon Cleghorn                                       Sergio Di Giovani

-------------------------                   --------------------------
Armen Ghazaryan                                      Frank Pastorino

                                       41

<PAGE>

                                                                       EXHIBIT 1

                                    GETIK PROPERTY DESCRIPTION

The Getik exploration property is located in the Geghargunik Region north-east
of Lake Sevan approximately 110km north-east of Yerevan. The southern boundary
of the lease is formed by the Getik River between the villages of Jambarag and
Polat, a distance of approx 40km. the western and eastern boundaries of the
lease extend north of each village a distance of approximately 7 km to cover an
area of 27 km(2.) The property is more particularly described in the Republic of
Armenia exploration license issued to Athelea, CJSC.

                                       42

<PAGE>

                                CONFIDENTIAL DRAFT                    EXHIBIT 2

                             Global Gold Corporation
                              104 Field Point Road
                               Greenwich, CT 06830

                                                              January 31, 2006
Mr.

, Armenia

                  Re:      Restricted Stock Award

Dear Mr.:

As consideration for your sale of shares in Athelea Investments, CJSC
("Athelea") to Global Gold Mining, LLC (the "Company") pursuant to the Athelea,
CJSC Share Purchase Agreement with Global Gold Mining, LLC as the Buyer dated as
of January , 2006 (the "SPA") we hereby grant you [A, C and D version] 30,000
shares [B version substitutes 10,000 for 30,000] of the Common Stock of Global
Gold Corporation (the "Corporation"), evidenced by a certificate of shares of
our common stock, $.001 par value per share (the "Shares"), subject to
applicable securities law restrictions and the terms and conditions set forth
herein:

                  1. At the closing and transfer of the Athelea shares as
contemplated by the SPA, you shall become fully vested in the total Shares
granted hereunder.

                  2. In the event of a Seller breach of the SPA, during the
12-month period commencing with the date of issuance of the Shares, you with the
other Sellers shall forfeit a proportionate right, title and interest in and to
any of the Shares granted hereunder, without any payment by the Company
therefore unless mutually agreed otherwise. This clause shall not relieve you of
any other liability for such breach.

                  3. (a) Any Shares granted hereunder are not transferable and
cannot be assigned, pledged, hypothecated or disposed of in any way except in
accordance with applicable securities law restrictions. Any attempted transfer
in violation of the Section shall be null and void.

                                       43

<PAGE>

                           (b) Notwithstanding anything contained in this
Agreement to the contrary, no sale, transfer or pledge
thereof may be effected without an effective registration statement or an
opinion of counsel for the Corporation that such registration is not required
under the Securities Act of 1933, as amended, and any applicable state
securities laws.

                  4. During the period commencing with the date hereof, you
shall have all right, title and interest in and to the Shares granted hereunder,
including the right to vote the Shares and receive dividends or other
distributions with respect thereto.

                  5. You shall be solely responsible for any and all foreign,
Federal, state and local income taxes arising out of your receipt of the Shares
and your future sale of other disposition of them.

                  6. This Agreement and the rights of the parties hereunder
shall be governed by and construed in accordance with the laws of the State of
New York, without regard to its conflicts of law principles. All parties hereto
(i) agree that any legal suit, action or proceeding arising out of or relating
to this Agreement shall be instituted only in a Federal or state court in the
City of New York in the State of New York, (ii) waive any objection which they
may now or hereafter have to the laying of the venue of any such suit, action or
proceeding, and (iii) irrevocably submit to the exclusive jurisdiction of any
Federal or state court in the City of New York in the State of New York, in any
such suit, action or proceeding, but such consent shall not constitute a general
appearance or be available to any other person who is not a party to this
Agreement. All parties hereto agree that the mailing of any process in any suit,
action or proceeding at the addresses of the parties shown herein shall
constitute personal service thereof.

                  7. If any provision of this Agreement shall be held invalid or
unenforceable, such invalidity or unenforceability shall attach only to such
provision and shall not in any manner affect or render invalid or unenforceable
any other severable provision of this Agreement, and this Agreement shall be
carried out as if any such invalid or unenforceable provision were not contained
herein.

                  8. This Agreement and all the terms and provisions hereof
shall be binding upon and shall inure to the benefit of the parties and their
respective heirs and successors and, in the case of the Corporation, its
assigns.

                  9. This Agreement may not be amended except in a writing
signed by all of the parties hereto.

                  10. Nothing contained herein shall be construed to create an
employment agreement between the Corporation and you or require the Corporation
to employ or retain you under such a contract or otherwise.

                                       44

<PAGE>

                  11. In the event of any conflict between the terms of this
Agreement and of the Share Purchase Agreement, the provisions contained in this
Agreement shall control.

                  If this letter accurately reflects our understanding, please
sign the enclosed copy of this letter at the bottom and return it to us.

Very truly yours,

                                                 Global Gold Corporation

                                                 By:___________________________
                                                    Drury J. Gallagher, Chairman

Agreed:

------------------------------

                                       45

<PAGE>

                                                                       EXHIBIT 3

                             SHAREHOLDERS AGREEMENT

                            ATHELEA INVESTMENTS, CJSC

                  Agreement made as of the 31st day of January, 2006 by and
among Global Gold Mining, LLC, a Delaware, United States limited liability
company ("GGM"), Simon Cleghorn, a citizen of Australia, Sergio DiGiovani, a
citizen of Australia, Armen Ghazarian, a citizen of the Republic of Armenia, and
Frank Pastorino, a citizen of the United States (collectively referred to with
GGM as the "Shareholders" and individually as a "Shareholder")

                  WHEREAS, the Shareholders, directly or indirectly, own shares
of common stock of Athelea Investments, CJSC an Armenian joint stock company
currently having its offices in Yerevan, Armenia (the "Company") (shares of such
common stock, together with shares of common subsequently acquired by the
parties, being referred to as the "Shares");and

                   WHEREAS, the Shareholders desire to impose restrictions upon
the voting of the Stock and to facilitate the continuity of responsible
ownership of the Company,

                  NOW, THEREFORE, in consideration of the mutual covenants and
conditions herein contained, each of the parties hereby agrees as follows:

                  NOW, THEREFORE, it is agreed as follows:

                  1. Voting of Stock; Directors.

                  1.1 The Shareholders hereby agree with one another that they
will, at all times, vote their respective Shares so as to effectuate and bring
about the election of the following persons as directors of the Company so long
as each person remains a Shareholder, both of record and beneficially:

                                       46

<PAGE>

                           (a) One designee as agreed among and identified by
Messrs. Cleghorn, DiGiovani, Ghazarian, and Pastorino; and
                           (b) Two designees of GGM, and such other persons as
the directors as the Shareholders shall elect from time to time.

                  2. Ownership, Funding, Assignment, Transfer.

                           (a) GGM will own 80% of the Company and Messrs.
Cleghorn, DiGiovani, Ghazarian, and Pastorino (on the terms as of this date)
will own 20% of the equity interests in the Company. Investments and participant
loans registered and managed through the Company (Getik Mining LLC) bank account
shall be repaid before any profit distributions are made.

                           (b) GGM shall be responsible for all exploration,
development, capital, operating and other expenses (on debt or equity terms at
its option)  necessary for the first three years to meet the licensing
requirements and extend the license as decided by the Company.

                           (c) GGM shall have the right to assign all or part of
its shares, rights and obligations in the Company upon notice to the other
Shareholders.  No other Shareholder shall assign or otherwise transfer its
shares, rights and obligations in the Company without the consent of GGM, and
all other Shareholders shall give GGM thirty days right of first refusal to
purchase any other Shareholder's at (a) the lower of any bona fide written offer
to purchase all or any part of his Shares, or (b) the proportionate amount of
the Purchase Price established in the share Purchase Agreement, adjusted for
inflation in Armenia from January 3, 2006 (as reported for consumer prices by
the International Monetary Fund).   In the event that GGM sells, or is in active
negotiation to sell, a controlling stake in Getik Mining LLC to any party all
shareholders have the unrestricted right to sell their respective shares without
regard to the preceding qualifications.

                                       47

<PAGE>

3.       Obligation for Transfer of Certain Assets and Liabilities.

                  3.1      As soon as practicable after the execution of this
Agreement, GGM and its designees to the board shall vote to transfer assets and
liabilities not connected to the Getik property, as requested by the other
Shareholders.   As soon as practicable after the execution of this Agreement,
all Shareholders and their designees shall vote to change the name of the
company to the "Getik Mining Company, CJSC", or such other name designated by
GGM, and all transferable right to the name "Athelea" shall be transferred as
requested by the other (non-GGM) Shareholders.

                  4.       Miscellaneous
                  4.1 Notices. All notices or other communications required or
permitted to be given pursuant to this Agreement shall be in writing and shall
be considered as duly given on (a) the date of delivery, if delivered in person,
by internationally recognized overnight delivery service or (b) ten days after
mailing by registered or certified mail, return receipt requested to the party
entitled to receive the same, to a Shareholder. Any party may change his or its
address by giving notice to the other party stating his or its new address.
Commencing on the 10th day after the giving of such notice, such newly
designated address shall be such party's address for the purpose of all notices
or other communications required or permitted to be given pursuant to this
Agreement
                  4.2 Governing Law; Arbitration. This Agreement and the rights
of the parties hereunder shall be governed by and construed in accordance with
the laws of the State of New York, without regard to its conflicts of law
principles. Any claim or dispute arising hereunder (including any issue as to
the arbitrability thereof and any claim for indemnification hereunder) shall be
determined by arbitration before a single arbitrator (subject to the last
sentence of this Section 16.14) in the New York City metropolitan area, in
accordance with the Commercial Arbitration Rules then obtaining of the American
Arbitration Association. Each party shall, no later than fifteen (15) days
before the date set for hearing, provide to the other parties and to the
arbitrator a copy of all documents that the party intends to submit at the
hearing and a list of all persons that party intends to call at the hearing,
unless the arbitrator shall permit otherwise in his sole discretion. The
arbitrator may adopt such procedures as he shall deem appropriate to achieve a
fair, prompt and cost-effective result. The award rendered in such arbitration
may provide for equitable remedies, an accounting and/or reimbursement for
attorneys', accountants', consultants' witnesses' or the arbitrator's fees, as
the arbitrator shall see fit. The award shall be final, and judgment on it may
be entered in or enforced by any court, state, federal or foreign, having
jurisdiction with respect thereto. Any party may apply to an appropriate court
of law for a preliminary injunction, attachment or similar remedy available to
it in aid of the arbitration proceeding provided for herein. This provision
shall not preclude the impleading or joining of one of the parties hereto by
another party in an action brought by a third party. In the event the total
amount in controversy, including (not net of) any meritorious counterclaim,
exceeds $250,000, the arbitration shall be held before a panel of three
independent arbitrators (none single-party appointed).

                                       48

<PAGE>

                  4.3 Entire Agreement; Waiver of Breach. This Agreement
constitutes the entire agreement among the parties and supersedes any prior
agreement or understanding among them with respect to the subject matter hereof,
and it may not be modified or amended in any manner other than as provided
herein; and no waiver of any breach or condition of this Agreement shall be
deemed to have occurred unless such waiver is in writing, signed by the party
against whom enforcement is sought, and no waiver shall be claimed to be a
waiver of any subsequent breach or condition of a like or different nature.
                  4.4 Binding Effect. This Agreement and all the terms and
provisions hereof shall be binding upon and shall inure to the benefit of the
parties and their respective heirs, successors and permitted assigns.
                  4.5 Specific Performance. The parties hereby acknowledge that
irreparable damage will be caused by a violation or threatened violation of this
Agreement and that it is impossible to measure in money the damages which will
accrue to a party hereto or to the personal representative of a decedent by
reason of a failure to perform any of the obligations under this Agreement.
Therefore, if any party hereto or the personal representative of a decedent
shall institute any action or proceeding to enforce any of the provisions
hereof, any person (including the Company) against whom such action or
proceeding is brought hereby consents to a grant of an injunction restraining
any such violation or threatened violation of this Agreement or any other
appropriate decree of specific performance by any court having equity
jurisdiction and waives the claim or defense therein that such party or such
personal representative has an adequate remedy at law, and such person shall not
allege in any such action or proceeding the claim or defense that such remedy at
law exists.
                  4.6 Captions. Captions contained in this Agreement are
inserted only as a matter of convenience and in no way define, limit or extend
the scope or intent of this Agreement or any provision hereof.
                  4.7 Number and Gender. Wherever from the context it appears
appropriate, each term stated in either the singular or the plural shall include
the singular and the plural, and pronouns stated in either the masculine, the
feminine or the neuter gender shall include the masculine, feminine and neuter.
                  4.8 Severability. If any provision of this Agreement shall be
held invalid or unenforceable, such invalidity or unenforceability shall attach
only to such provision and shall not in any manner affect or render invalid or
unenforceable any other severable provision of this Agreement, and this
Agreement shall be carried out as if any such invalid or unenforceable provision
were not contained herein.

                                       49

<PAGE>

                  4.9      Amendments.  This Agreement may not be amended except
in a writing signed by all of the parties hereto.

                  4.10     Counterparts.  This Agreement may be executed in
several counterparts, each of which shall be deemed an original but all of which
shall constitute one and the same instrument. In addition, this Agreement may
contain more than one counterpart of the signature page and this Agreement may
be executed by the affixing of such signature pages executed by the parties to
one copy of the Agreement; all of such counterpart signature pages shall be read
as though one, and they shall have the same force and effect as though all of
the signers had signed a single signature page.
                  4.11 Term. This Agreement shall have a term of four (4) years,
and expire on January 31, 2010, unless extended by a mutually agreement in
writing.
                  IN WITNESS WHEREOF, the undersigned have executed this
Agreement as of the date first above written.

                                                  ------------------------------
                                                  Simon Cleghorn

                                                  ------------------------------
                                                  Sergio DiGiovani

                                                  ------------------------------
                                                  Frank Pastorino

                                                  ------------------------------
                                                  Armen Ghazarian

                                                  Global Gold Mining, LLC

                                                  By:___________________________
                                                     Van Z. Krikorian, Manager

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00096-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00096-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00096-of-00352.parquet"}]]