Document:

Exhibit
10.10

 

FORM OF SALES REPRESENTATIVE AGREEMENT

 

THIS AGREEMENT made on the __ day of ___________,
2012 by and between Tecogen Inc., a Delaware corporation with its principal office located at 45 First Avenue, Waltham, MA, 02451
(“Tecogen”), and ____________, a ____________ corporation with an office located at _______________, (the “Representative”).

 

WITNESSETH:

 

Whereas, Tecogen is engaged in the manufacture
and sale of products including industrial equipment and accessories;

 

Whereas, the Representative desires to
promote and to solicit the sale of certain of said products;

 

Now, therefore, in consideration of the
premises and for other good and valuable consideration each to the other given, the parties hereto agree as follows:

 

		1.	Rights of the Representative. The Representative shall
                                                                be an authorized representative of Tecogen with the right to solicit
                                                                the sale of Tecogen products and services in accordance with the
                                                                terms of this Agreement, and/or to buy and resell such Tecogen
                                                                products as, under the terms of this Agreement, may be offered
                                                                by Tecogen from time to time.

 

		2.	Tecogen Policies and Procedures. The Representative
                                                                shall comply with Tecogen's sales, service and service parts policies
                                                                and procedures, as such policies and procedures are furnished
                                                                to the Representative from time to time. Tecogen shall furnish
                                                                sales materials at no cost to the Representative.

 

		3.	List of Products and Services. Tecogen hereby authorizes
                                                                the Representative to solicit the sale of the products and services
                                                                set forth on the document marked Appendix “A” attached
                                                                hereto and made a part hereof (the “Products”). The
                                                                Representative agrees that Tecogen may from time to time modify
                                                                this Agreement by providing to the Representative a substitute
                                                                Appendix “A”.

 

		4.	Equipment Pricing. A commission shall be paid to the
                                                                Representative for the sale of all Products listed on Appendix
                                                                “A” sold on a commission basis by the Representative
                                                                within the Territory, as set forth in Appendix “D”
                                                                (the “Territory”), during the term of this Agreement
                                                                in accordance with Paragraph 5. Par, or standard sales price to
                                                                the purchaser of the Products shall be equal to the Par Value
                                                                Multiplier set forth in Appendix “B” times the amount
                                                                at which such Products are then listed on Tecogen's current price
                                                                list.

 

		5.	Determination and Payment of Commissions To the Representative.

 

		a.	Representative shall be entitled to full commission on each
                                                                order for which all of the following occur in the Territory: (1)
                                                                Product Specification, (2) Issuance of an Order, and (3) Installation
                                                                of a Product. However, when one or more of these three functions
                                                                occurs in a territory other than the Territory, the commission
                                                                for all functions shall be distributed as per Appendix “C”
                                                                and subject to Section d of this Paragraph 5. The whole commission
                                                                amount will be computed as follows:

 

		i.	Products sold at par or standard sales price shall return
                                                                a commission to the Representative equal to the Par Commission
                                                                Multiplier set forth in Appendix “B” times the net
                                                                sales price (sales price after deducting transportation charges,
                                                                applicable taxes, design and/or installation consulting fees,
                                                                startup and/or first year service monies, collection fees, rebates
                                                                or returns.)

 

		ii.	Products sold above par or standard sales price: Net overage
                                                                 shall be shared equally by the Representative and Tecogen.

 

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		iii.	Products sold below par or standard sales price: Net underage
                                                                  shall be borne equally by the Representative and Tecogen.

		iv.	The minimum sale price for Products shall be equal to the
                                                                 Minimum Price Multiplier set forth on Appendix “B”
                                                                 times the current published list price.

 

		v.	The Representative may choose to forego receiving a commission
                                                                and purchase the equipment directly from Tecogen. The Representative
                                                                must notify Tecogen at the time of quotation that the project
                                                                is being quoted that they have chosen to enable this Buy/Resell
                                                                provision. The Tecogen sale price for Buy/Resell is equal to Buy/Resell
                                                                Multiplier set forth on Appendix “B” times the Product
                                                                list price (including all supplied optional equipment). The cost
                                                                of transportation charges, applicable taxes, design and/or installation
                                                                consulting fees, startup and/or first year service monies, collection
                                                                fees, rebates or returns are the sole responsibility of the Representative.

 

		b.	Commissions shall be paid to the Representative within ten
                                                                (10) days after full payment of the invoice by the purchaser of
                                                                the Products. If for any reason Tecogen does not receive full
                                                                payment from the customer, the Representative shall receive only
                                                                his pro rata share of the commission for the portion of the net
                                                                sales price actually received by Tecogen.

 

		c.	It is understood and agreed that all commissions under this
                                                                paragraph 5 shall be subject to such split commissions policies
                                                                as Tecogen may from time to time promulgate. The Representative
                                                                recognizes and agrees that Tecogen may change any of the multipliers
                                                                in Appendix “B” by giving thirty (30) days prior notice
                                                                to the Representative.

 

		d.	Notwithstanding anything to the contrary in this Paragraph
                                                                5 or elsewhere in this Agreement, commissions shall be due and
                                                                payable to the Representative only on orders which the Representative
                                                                has demonstrated reasonable efforts to solicit and procure in
                                                                accordance with its responsibilities set forth in Paragraph 9.

 

		6.	Product Orders.

 

		a.	Product orders submitted by the Representative shall be deemed
                                                                to be an offer to purchase by the purchaser, and are subject to
                                                                final approval and acceptance by Tecogen at its Home Office in
                                                                Waltham, Massachusetts.

 

		b.	Tecogen may designate by written notice to the Representative
                                                                certain customers within the Territory as “Direct Accounts”.
                                                                The Representative will not be paid commissions on sales to a
                                                                Direct Account which were ordered after notice has been given
                                                                to the Representative that the customer is a Direct Account. The
                                                                Representative's responsibilities set forth in Paragraph 9 will
                                                                not apply to Direct Accounts.

 

		7.	Price Changes. The Representative recognizes and agrees
                                                                that Tecogen may change the price of any Product at any time upon
                                                                thirty (30) days prior written notice to the Representative.

 

		8.	Representative Is Independent Contractor. The Representative
                                                                shall act as an independent contractor. Nothing contained in this
                                                                Agreement shall be construed to create the relationship of employer
                                                                and employee between Tecogen and the Representative or between
                                                                Tecogen and any agent or any employee of the Representative. Without
                                                                limiting the foregoing, the Representative shall have no authority
                                                                to act for or to bind Tecogen in any way, to alter any of the
                                                                terms or conditions of any standard forms or other agreements
                                                                of Tecogen with purchasers of products, to make representations
                                                                or warranties or to execute agreements on behalf of Tecogen or
                                                                to represent that Tecogen is in any way responsible for the acts
                                                                or omissions of the Representative. The Representative shall indemnify
                                                                and hold Tecogen harmless for any liability, loss or damage (including
                                                                reasonable attorney's fees) to Tecogen resulting from a violation
                                                                of this Paragraph 8.

 

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		9.	Responsibilities of Representative.

 

		a.	The Representative shall promote the sale of the Products
                                                                set forth on Appendix “A” and render sales and technical
                                                                services in the Territory.

 

		b.	The Representative shall not personally or through its employees
                                                                represent himself or themselves as officers or employees of Tecogen.

 

		c.	It is acknowledged and agreed by the parties that the policy
                                                                of Tecogen prohibits the payment by any employee or any sales
                                                                representative of any substantial fee, gift or any other form
                                                                of compensation as a consideration for or inducement to the obtaining
                                                                of any contract or order or for the procurement of goods or services
                                                                on behalf of Tecogen. The Representative shall not make any unlawful
                                                                payments in order to secure a sale or improve its competitive
                                                                position, and the Representative shall perform its obligations
                                                                under this Agreement in accordance with all laws, ordinances,
                                                                rules and regulations of any and all applicable public authorities.

 

		d.	The Representative shall devote its best efforts to promote
                                                                the maximum sale of the Products in the Territory and to that
                                                                end shall be required:

 

		i.	To make personal calls on customers and prospective customers in the
                                                      Territory as frequently as possible and as required by Tecogen.

 

		ii.	To render sales and technical services to customers and prospective
                                                       customers, both before and after sale, as required.

 

		iii.	To maintain an office equipped with telephone service during business
                                                        hours to assure rapid communications.

 

		iv.	To maintain a staff adequate to provide sales coverage in the Territory.

 

		v.	To report on calls made to customers and prospective customers at such
                                                      times as are requested by Tecogen.

 

		vi.	To furnish Tecogen with copies of all letters and other written information
                                                       submitted by the Representative to customers and prospective customers.

 

		vii.	To assist Tecogen, at the Representative's expense, in presentations
                                                        at trade shows and in sales promotional campaigns when required by Tecogen.

 

		e.	The Representative shall pay and be responsible for all expenses
                                                                in connection with the performance of the terms and conditions
                                                                of this Agreement on its part, including but not limited to rent,
                                                                light, heat, telephone, telegraph, postage, stationery, office
                                                                supplies, salaries of all employees and travel and entertainment
                                                                expense, and Tecogen shall have no responsibility or liability
                                                                therefor.

 

		f.	The Representative shall, prior to the commencement of each
                                                                calendar quarter, furnish to Tecogen sales forecasts for the customers
                                                                in the Territory for such quarter.

 

		g.	The Representative shall maintain customer contacts with respect
                                                                to such items as drawings, specifications, termination claims,
                                                                controversial items, and any other transactions directly or incidentally
                                                                arising from the processing of the business of a customer or prospective
                                                                customer, or from the initiation, administration or continuation
                                                                of contacts with that customer.

 

		h.	The Representative shall not receive any funds or enter into
                                                                any contractual liability on behalf of Tecogen.

 

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		i.	The Representative shall report available information as to
                                                                the credit standing of potential or actual customers to Tecogen.

 

		j.	The Representative shall report to Tecogen any violations
                                                                of Tecogen's trademarks by other parties of which the Representative
                                                                becomes aware.

 

		k.	The Representative agrees to indemnify and save harmless Tecogen
                                                                from all losses and damages (including reasonable attorney's fees)
                                                                that Tecogen may sustain or become liable for by reason of claims
                                                                against it resulting from unauthorized acts or statements of the
                                                                Representative or the Representative's employees, agents or representatives.

 

		l.	The Representative will use its best efforts to assist Tecogen,
                                                                upon its request, with any collections for Products sold in the
                                                                Territory, and shall remit to Tecogen any amounts paid to the
                                                                Representative by a customer for Products, inadvertently or otherwise.

 

		m.	The parties agree to a quarterly review of the Representative's
                                                                sales and/or promotional performance in accordance with the terms
                                                                of this Agreement and with the sales quotas set forth in Appendix
                                                                “F”.

 

		10.	Term and Termination. 

 

		a.	The initial term of this Agreement shall commence and be effective
                                                                as of the date first above written and shall terminate on the
                                                                second anniversary of such date. Thereafter this Agreement shall
                                                                be renewed for successive one-year terms unless either party provides
                                                                to the other party written notice of its intent to terminate,
                                                                with or without cause, at least sixty (60) days prior to the end
                                                                of the term. Notwithstanding anything to the contrary in this
                                                                Section as of this Paragraph 10, this Agreement may be terminated
                                                                early pursuant to Section b of this Paragraph 10.

 

		b.	This Agreement may be terminated for any reason by either
                                                                party upon sixty (60) days prior written notice to the other party.
                                                                This Agreement may be terminated with cause, as defined below,
                                                                by either party upon thirty (30) days prior written notice to
                                                                the other party, except that in the event that a party becomes
                                                                insolvent or seeks to terminate its existence, or in the event
                                                                that any petition in bankruptcy, either voluntary or involuntary,
                                                                is filed with respect to the business of a party, the other party
                                                                may terminate this Agreement effective immediately upon the delivery
                                                                of written notice.

 

		c.	Upon either receipt of or mailing of notice of termination
                                                                of this Agreement, the Representative shall, within ten (10) working
                                                                days, submit to Tecogen at its home office in Waltham, Massachusetts
                                                                a written list of outstanding quotations or pending projects originated
                                                                by the Representative. Tecogen shall pay the Representative a
                                                                commission for such quotations and/or pending projects for which
                                                                orders and payment are received after termination resulting in
                                                                shipments in accordance with the following schedule:

 

		i.	Approved Orders within 30 days of termination shall result in 60% of
                                                      the net commission described in Paragraph 5 to the Representative.

 

		ii.	Approved Orders within thirty-one (31) to sixty (60) days of termination
                                                       shall result in 40% of the net commission described in Paragraph 5 to the
                                                       Representative.

 

		iii.	Approved Orders within sixty-one (61) to ninety (90) days of termination
                                                        shall result in 20% of the net commission described in Paragraph
                                                        5 to the Representative.

 

		iv.	Approved Orders later than ninety (90) days of termination shall result
                                                       in no commission to the Representative.

 

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		d.	It is understood and agreed that if, upon the date of mailing
                                                                of notice of termination, the Representative is indebted to Tecogen,
                                                                such indebtedness may partially or wholly be satisfied by offsetting
                                                                any commissions then due, or thereafter becoming due, to the Representative.

 

		e.	It is further understood and agreed that the Representative
                                                                waives any commissions under Section c of Paragraph 10 if, as
                                                                agent for a competitor of Tecogen, the Representative attempts
                                                                to secure for such competitor orders for products and services
                                                                covered by the specific quotation and/or projects referenced in
                                                                Section c of this Paragraph 10.

 

		f.	Cause for termination shall mean (a) breach by either party
                                                                of its obligations under this Agreement or (b) in the case of
                                                                the Representative, (i) failure to meet any sales quota set for
                                                                in Appendix “F” or (ii) failure to maintain positive
                                                                working relationships, as demonstrated in the quarterly review
                                                                of the Representative's performance pursuant to Section m of Paragraph
                                                                9, with utilities, customers or other entities important to Tecogen's
                                                                business within the Territory.

 

		11.	Marketing Territory. Tecogen grants the Representative
                                                                 the privilege to solicit exclusively all purchasers in the Territory,
                                                                 subject to the exclusions set forth in Appendix “E”
                                                                 and purchasers that are Direct Accounts, as described in Section
                                                                 b of Paragraph 6. Subject to the preceding sentence, Tecogen
                                                                 will not sell any Products within the Territory except through
                                                                 the Representative. The Representative recognizes and agrees
                                                                 that Tecogen may change the Territory set forth in Appendix “D”
                                                                 and the list of “Excluded Customers” in Appendix
                                                                 “E” by giving thirty (30) days prior written notice
                                                                 to the Representative.

 

		12.	Competing Products. The Representative has the right
                                                                 to carry and sell products other than and in addition to the
                                                                 Products provided, however, that unless otherwise agreed by the
                                                                 parties, the Representative shall not sell, distribute, advertise
                                                                 or in any way deal in or with any products, which, in the opinion
                                                                 of Tecogen, are competitive with any of the Products.

 

		13.	Confidentiality. The Representative shall maintain
                                                                 the confidentiality of, and not disclose to others, any confidential
                                                                 or proprietary information of Tecogen that it may now have or
                                                                 may hereafter obtain, including without limitation specifications,
                                                                 technical reports, customer lists and product plans relating
                                                                 to Tecogen's business or products.

 

		14.	Proprietary Rights; Trademarks. The Representative
                                                                 shall conduct its business under its own name. Neither this Agreement
                                                                 nor any sale of Products under this Agreement shall be construed
                                                                 as granting to the Representative any license or right in or
                                                                 to any patent, copyright, trademark or other proprietary right
                                                                 of Tecogen. The Representative shall not use any trademarks or
                                                                 trade names of Tecogen in any manner, except as authorized in
                                                                 writing by Tecogen or in connection with the use of literature
                                                                 supplied by Tecogen. The Representative shall discontinue such
                                                                 usage upon the termination of this Agreement.

 

		15.	Notices. All notices, requests, demands and other
                                                                 communications under this Agreement shall be in writing and shall
                                                                 be deemed to have been duly given when delivered in person or,
                                                                 if mailed, when mailed by United States certified or registered
                                                                 mail, postage prepaid, to the parties at the addresses first
                                                                 set forth above or at such other address as may be given in writing
                                                                 by either party to the other in accordance with this Paragraph
                                                                 15.

 

		16.	Assignability. The Representative acknowledges that
                                                                 Tecogen is entering into this Agreement in reliance upon the
                                                                 personal reputation, qualifications and abilities of the present
                                                                 owner or owners of the Representative's business and operations,
                                                                 and accordingly, the Representative may not assign its rights
                                                                 or obligations under this Agreement, either voluntarily or by
                                                                 operation of law, except with the prior written consent of Tecogen.
                                                                 A change in control of the Representative's business shall be
                                                                 deemed to be an assignment for this purpose.

 

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		17.	Miscellaneous. 

 

		a.	This Agreement shall be construed according to the laws of
                                                                the Commonwealth of Massachusetts.

 

		b.	This Agreement constitutes the entire understanding between
                                                                the parties relating to the subject matter of this Agreement and
                                                                supersedes all prior writings, negotiations or understandings
                                                                with respect thereto. No modification or addition to this Agreement
                                                                shall have any effect unless it is set forth in writing and signed
                                                                by both parties.

 

		c.	The waiver by Tecogen of any breach of any provision of this
                                                                Agreement shall not be construed as a continuing waiver of such
                                                                breach or as a waiver of other breaches of the same or of other
                                                                provisions of this Agreement.

 

IN WITNESS WHEREOF, the parties hereto
have duly executed this Agreement to be effective as of the day and year first written above.

 

	Tecogen Inc.	 	Company Name
	(Tecogen)	 	(Representative)
	 	 	 	 	 
	By:	 	 	By:	 
	 	 	 	 	 
	Title:	 	 	Title:	 

 

    	6GBS ENTERPRISES INCORPORATED

(a Nevada corporation)

 

2011 STOCK OPTION PLAN

(the “Plan”)

 

1. Purpose.

 

The purpose of this Plan is to promote
to the interests of the Company and its stockholders by attracting, retaining, and stimulating the performance of selected employees
and consultants, including officers and directors, and giving such employees, management, directors, and consultants the opportunity
to acquire a proprietary interest in the Company's business and an increased personal interest in its continued success and progress
as well as increasing the productivity of those individuals whom the Committee deems to have the potential to contribute to the
success of the Company.

 

2. Definitions.

 

Unless otherwise indicated, the following
words when used herein will have the following meanings:

 

a. “Board of
Directors” means the board of directors of the Company.

 

b. “Code”
means the Internal Revenue Code of 1986, as amended from time to time.

 

c. “Common Stock”
means the Company's common stock (par value $0.001) and any share or shares of the Company's common stock hereafter issued or issued
in substitution for such shares.

 

d. “Company” or “GBSX”
means GBS Enterprises Incorporated, a Nevada corporation and its directly and indirectly-controlled subsidiaries, if any.

 

e. “Committee” means
the body appointed by the Board of Directors which will be comprised in such a manner as to comply with the requirements, if any,
of Rule 16b-3 (or any successor rule) under the Exchange Act and of Section 162 of the Code.

 

f. “Director”
means a member of the Board of Directors.

 

g. “Discounted Market Price”
has the meaning set out in the policies of the exchange the GBSX stock is listed at.

 

h. “Effective
Date” means April 1, 2011.

 

i. “Eligible
Participant” has the meaning set forth in Section 4 hereto.

 

j. “Employee”
means:

 

(i). an individual
who is an employee of GBSX;

 

(ii). an individual who works full-time
for the Company or an affiliate of the Company providing services normally provided by an employee and who is subject to the same
control and direction by the Company over the details and methods of work as an employee of the Company, but for whom income tax
deductions are not made at source; or

 

    	 

    	 

    

 

(iii). an individual who works
for the Company or an affiliate on a continuing and regular basis for a minimum amount of time per week providing services normally
provided by an employee and who is subject to the same control and direction by the Company over the details and methods of work
as an employee of the Company, but for whom income tax deductions need not be made at source, and may include an Officer.

 

k. “Exchange
Act” means the Securities Exchange Act of 1934.

 

l. "Fair Market Value"
means, as of any date, the value of Common Stock determined as follows:

 

		(a)	if the Common Stock is listed on an established stock
exchange, exchanges, or the NASDAQ National Market, the closing price per share on the last trading day immediately preceding
such date on the principal exchange on which the Common Stock is traded or as reported by NASDAQ;

 

		(b)	if the Common Stock is not then listed on an established exchange or the NASDAQ National Market,
but is quoted on the NASDAQ Small Cap Market, the NASD OTC electronic bulletin board or the National Quotation Bureau pink sheets,
the average of the lowest and the highest prices per share for the Common Stock as quoted by NASDAQ, NASD or the National Quotation
Bureau, as the case may be, for the period of

 

(i) 10 trading days immediately
preceding such date in case the collective trading volume of the Common Stock during that 10 day period is greater than 1% of all
issued and outstanding shares; or

 

(ii) 60 trading days immediately preceding such date
in case the collective trading volume of the Common Stock during that 60 day period is greater than 1% of all issued and outstanding
shares; or

 

(iii) 360 trading days immediately preceding such
date in case the collective trading volume of the Common Stock during that 360 day period is greater than 1% of all issued and
outstanding shares; or

 

(iv) in the event the collective
trading volume in the last 12 months immediately preceding such date is below 1% of all issued and outstanding shares, but during
this period the Company issued new shares in the amount of at least 1% of all issued and outstanding shares of the Company, the
average between the price as determined in section l. (b) (ii) and the price per share issued, or

 

(v) in the event none of the
aforementioned conditions l.(b) (i) to (iv) is met for the date in question, then an amount determined in good faith by the Board
of Directors of GBSX, or

 

		(c)	if there is no such reported market for the Common Stock for the date in question, then an amount
determined in good faith by the Board of Directors of GBSX.

 

m. “Incentive Stock Option”
means any option granted to an Eligible Participant under the Plan which the Company intends at the time the option is granted
to be an Incentive Stock Option within the meaning of Section 422 of the Code.

 

    	 

    	 

    

 

n. “Insider”
has the meaning set out in the policies of the SEC.

 

o. “Investor
Relations Activities” has the meaning set out in the policies of the SEC.

 

p. “Management Company
Employee” means an individual employed by a Company or individual providing management services to the Company, which are
required for the ongoing successful operation of the business enterprise of the Company, but excluding a Company or individual
engaged in Investor Relations Activities.

 

q. “Non-Qualified Stock
Option” means any option granted to an Eligible Participant under the Plan which is not an Incentive Stock Option.

 

r. “Officer” means
a duly-appointed senior officer of the Company, including the President, Vice-President, Secretary, Treasurer, Chief Executive
Officer, Chief Financial Officer, Chief Operating Officer, Chief Marketing Office, Chief Technology Officer and/or Chief Business
Development Officer of the Company.

 

s. “Option” means
and refers collectively to Incentive Stock Options and Nonqualified Stock Options.

 

t. “Option Agreement”
means such Option agreement or agreements as are approved from time to time by the Board and as are not inconsistent with the terms
of this Plan.

 

u. “Option Share”
means any share of Common Stock issuable upon exercise of an Option.

 

v. “Optionee” means
any Eligible Participant who is granted an Option under the Plan. “Optionee” will also mean the personal representative
of an Optionee and any other person who acquires the right to exercise an Option by bequest or inheritance.

 

w. “Subsidiary” means
a subsidiary corporation of the Company as reported in the financial reports of GBSX.

 

3. Administration.

 

a. This Plan will be
administered by the Board of Directors as a whole, or a separate committee established by the Board of Directors (the "Committee").
Except for the terms and conditions explicitly set forth in this Plan, the Committee will have the authority, in its discretion,
to determine all matters relating to the grant of Options to be granted under this Plan, including the selection of individuals
to be granted Options, the number of shares of Common Stock to be subject to each grant, the date of grant, the termination of
the Options, the term of Options, vesting schedules, and all other terms and conditions thereof. Such authority will also include
the authority in the event of a spin-off or other corporate transaction to permit substitution of an Option with a stock option
from another company or an award denominated in other than shares of Common Stock. Grants under this Plan to Eligible Participants
need not be identical in any respect, even when made simultaneously. The Committee will also determine and approve whether the
grant of Options will consist of an Incentive Stock Option as described in Section 422 of the Code or a Non-Qualified Stock Option,
which will consist of any Option other than an Incentive Stock Option.

 

    	 

    	 

    

 

b. Options will be
evidenced by written agreements (“Option Agreements”) which will contain such terms and conditions as may be determined
by the Committee. Each Option Agreement will be signed on behalf of the Company by an officer or officers delegated such authority
by the Committee.

 

c. All decisions made
by the Committee pursuant to the provisions of this Plan and all determinations and selections made by the Committee pursuant to
such provisions and related orders or resolutions of the Board of Directors will be final and conclusive, subject to regulatory
approval, including the approval of the SEC.

 

d. No member of the
Committee will be liable for any action, failure to act, determination or interpretation made in good faith with respect to this
Plan or any transaction hereunder, except for liability arising from his or her own willful misfeasance, gross negligence or reckless
disregard of his or her duties.  The Company will indemnify each member of the Committee for all costs and expenses and, to
the extent permitted by applicable law, any liability incurred in connection with defending against, responding to, negotiation
for the settlement of or otherwise dealing with any claim, cause of action or dispute of any kind arising in connection with any
actions in administering this Plan or in authorizing or denying authorization to any transaction hereunder.

 

4. Eligibility and Participation.

 

The group of individuals eligible to receive
Options will consist only of the following (the “Eligible Participants”):

 

a. Directors and Officers
of the Company,

b. Employees of the
Company and Management Company Employees, and

c. Consultants of the
Company, except as provided herein,

 

and includes a company of which 100% of
the share capital is beneficially owned by one or more individual Eligible Participants.

 

Consultants will only be eligible to receive
Options if they have furnished bona fide services to the Company and such services are not in connection with the offer or sale
of securities in a capital-raising transaction.

 

5. Shares Subject to This Plan.

 

a. The stock to be
offered under the Plan will be shares of Common Stock. The aggregate number of shares reserved for issuance under this Plan will
be 5,000,000 common shares.

 

b. If an Option expires,
is surrendered in exchange for another Option, or terminates for any reason during the term of this Plan prior to its exercise
in full, the shares subject to but not delivered under such Option will be available for Options thereafter granted and for replacement
Options which may be granted in exchange for such surrendered or terminated Options. Common Stock which has been issued pursuant
to the exercise of Options granted under this Plan since the inception of the Plan will not be considered to reduce the maximum
number of Shares which may be issued to Eligible Participants under Options issued and outstanding pursuant to this Plan.

 

    	 

    	 

    

 

6. Grants of Options

 

a. At any time and
from time to time prior to the termination of the Plan, Options may be granted by the Committee to any individual who is an Eligible
Participant at the time of grant.  Options granted pursuant to the Plan will be contained in an Option Agreement in a form
approved by the Committee and, except as hereinafter provided, will be subject to the provisions of this Plan, in addition to such
other terms and conditions as the Committee may specify.

 

b. In addition, for
as long as the Common Stock of the Company is listed or quoted, as the case may be, on an established stock exchange, or is quoted
on the NASDAQ Small Cap Market, the NASD OTC electronic bulletin board or the National Quotation Bureau pink sheets, the Company
will comply with the following requirements in addition to any other requirements imposed under the policies of the SEC:

 

(i) Options to acquire more than
1% of the issued and outstanding Common Stock of the Company will not be granted to any one Consultant in any 12 month period,
calculated at the date the Option was granted;

 

(ii) For Options granted to Employees,
Consultants or Management Company Employees, the Company will represent that the Optionee is a bona fide Employee, Consultant or
Management Company;

 

(iii) Any Options granted to
an Eligible Participant must expire within a reasonable period following the date that the Optionee ceases to occupy such role;
and

 

(iv) No term of any
Option may exceed 10 years.  

 

7. Incentive Stock Options.

 

a. An Option designated
by the Committee as an “Incentive Stock Option” is intended to qualify as an “Incentive Stock Option” within
the meaning of Subsection (b) of Section 422 of the Code.

 

b. To the extent that
the aggregate fair market value (determined at the time the option is granted) of the Common Stock with respect to which Incentive
Stock Options (determined without regard to this Subsection 7(b)) are exercisable for the first time by the Optionee during any
calendar year (under this Plan and all other Incentive Stock Option Plans of the Company) exceed $100,000, such Options will be
treated as Non-Qualified Options and will not qualify as Incentive Stock Options.

 

c. Should the Code
or regulations or pronouncements thereunder be modified during the term of this Plan, this Plan and any outstanding Options may
be amended to conform to such modification, if approved by the Board of Directors.

 

d. Notwithstanding
the definition of “Fair Market Value” in this Plan, fair market value in connection with any Incentive Stock Options
will be determined under the applicable method provided by Regulations under Section 2031 of the Code.

 

e. In the case of an
Incentive Stock Option: (a) granted to a Eligible Participant who at the time of the grant owns Common Stock representing more
than 10% of the voting power of all classes of stock of the Company or any parent or subsidiary of the Company, the per share exercise
price will be no less than 110% of the Fair Market Value per share on the date of grant; or (b) granted to any other Eligible Participant,
the per share exercise price will be no less than 100% of the Fair Market Value per share of Common Stock on the date of grant.

 

f. In the case of an
Incentive Stock Option granted to a Eligible Participant who at the time of the grant of such Incentive Stock Option owns stock
representing more than 10% of the voting power of all classes of stock of the Company or any Parent or Subsidiary, such Incentive
Stock Option may not be exercised after the expiration of five (5) years from the date the Incentive Stock Option is granted.

 

    	 

    	 

    

 

g. No Incentive Stock
Options will be granted under this Plan more than ten (10) years after the date that the Plan is adopted or approved by the stockholders
of the Company, whichever is earlier.

 

h. No Incentive Stock
Option will be exercisable more than ten (10) years from the date it is granted; provided, however, that the case of an Eligible
Participant who at the time of grant owns Common Stock representing more than 10% of the voting power of all classes of stock of
the Company or any subsidiary, the Incentive Stock Option may not be exercised after the expiration of five (5) years from the
date of grant.

 

8. Term of Option Period.

 

The term during which Options may be exercised
will be determined in the discretion of the Committee, subject to Sections 7(g) and 7(h) of this Plan.

 

9. Exercise Price.

 

Subject to any limitations provided for
in Section 7 herein and to any additional limitations imposed by the SEC, the price at which shares of Common Stock may be purchased
upon the exercise of an Option will be such price as fixed by the Committee, provided that such exercise price will not be less
than:

 

a. the Discounted Market
Price if the Common Stock is listed on an established stock exchange at the time of the grant, and

 

b. 85% of the Fair
Market Value if the Common Stock is not listed at an established stock exchange, but is listed or quoted, as the case may be, on
the NASDAQ Small Cap Market, the NASD OTC electronic bulletin board or the National Quotation Bureau pink sheets at the time of
the grant of the Option.

 

If the shares of Common Stock become listed
on another stock exchange, then the exercise price will not be less than the exercise price permitted by such exchange.  

 

10. Payment of Exercise Price.

 

The Committee will determine the terms
of payment by each Eligible Participant for shares of Common Stock to be issued upon the exercise of Stock Options. Such terms
will be set forth or referred to in the Option Agreement.  No Option Share may be issued until payment in full of the exercise
price has been received by the Company.

 

11. Form of Exercise Payment. 

 

An Option may be exercised by payment of
cash, cashier’s check or wired funds or via a “cashless exercise,” or any combination of the foregoing methods,
as approved by the Committee.

 

12. Vesting; Exercise of Options and
Rights.

 

a. Subject to the provisions
of subsection 12(g) herein, an Option will vest and become nonforfeitable and exercisable, pursuant to such vesting schedules as
determined by the Committee, but in no event later than 5 years from the date of grant. Eligible Participants may be credited with
prior years of service for purposes of any vesting schedules, at the discretion of the Committee.

 

    	 

    	 

    

 

b. Each Option granted
will be exercisable in whole or  in part at any time or from time to time during the option period as the Committee may determine,
provided that the election to exercise an Option will be made in accordance with applicable federal laws and regulations, and further
provided that each Option will contain a provision that will prevent exercise of the Option unless the Optionee remains in the
employ of the Company or its subsidiary at least one year after the granting of the Option. However, the Committee may in its discretion
accelerate the vesting schedule of any Option at any time.

 

c. No Option may at
any time be exercised with respect to a fractional share of Common Stock.

 

d. As a condition to
the exercise of an Option, Optionees will make such arrangements as the Committee may require for the satisfaction of any federal,
state, or local withholding tax obligations that may arise in connection with such exercise.

 

e. No shares of Common
Stock will be delivered pursuant to the exercise of any Option, in whole or in part, until qualified for delivery under such securities
laws and regulations as may be deemed by the Committee to be applicable thereto.

 

f. Notwithstanding
any vesting requirements contained in any Option, all outstanding Options will become immediately exercisable (a) following the
first purchase of Common Stock pursuant to a tender offer or exchange offer (other than an offer made by the Company) for all or
part of the Common Stock, (b) at such time as a third person, including a “group” as defined in Section 13(d) of the
Exchange Act, becomes the beneficial owner of shares of the Company having 25% or more of the total number of votes that may be
cast for the election of Directors of the Company, (c) on the date on which the stockholders of the Company approve (i) any agreement
for a merger or consolidation in which the Company will not survive as  an independent, publicly-owned corporation or (ii)
any sale, exchange or other disposition of all or substantially all of the Company's assets. The Committee's reasonable determination
as to whether such an event has occurred will be final and conclusive.

 

g. Notwithstanding
any other provisions of this Agreement to the contrary, the right of any Eligible Participant to receive any benefits hereunder
will terminate and will be forever forfeited if such Eligible Participant's employment with the Company is terminated because of
his/her fraud, embezzlement, dishonesty, or breach of fiduciary duty. In such an event, all unexercised Options will be deemed
null and void.

 

13. Transferability of Options.

 

The right of any Optionee to exercise an
Option granted under the Plan will, during the lifetime of such Optionee, be exercisable only by such Optionee or pursuant to a
qualified domestic relations order as defined by the Code, or Title I of the Employee Retirement Income Security Act, or the rules
thereunder (a “QDRO”) and will not be assignable or transferable by such Optionee other than by will or the laws of
descent and distribution or a QDRO.

 

14. Termination of Relationship.

 

No Option may be exercised after the Optionee,
if a Director or Officer, has ceased to be a Director or Officer or, if an Employee or other Eligible Participant has left the
employ or service of the Company or an affiliate of the Company, except as follows:

 

    	 

    	 

    

 

a. notwithstanding
any other provision of this section 14, if and to the extent provided in the Optionee’s employment agreement;

 

b. in the case of the
death of an Optionee, any vested Option held by him or her at the date of death will become exercisable by the Optionee’s
lawful personal representatives, heirs or executors until the earlier of one year after the date of death of such Optionee and
the expiry date of such Option;

 

c. subject to the other
provisions of this Section 14, including the proviso below, vested Options will expire 90 days after the date the Optionee ceases
to be employed by, provide services to, or be a Director or Officer of, the Company or an affiliate of the Company, and all unvested
Options will immediately terminate without right to exercise same; and

 

d. in the case of an
Optionee being dismissed from employment or service for cause, such Optionee’s Options, whether or not vested at the date
of dismissal will immediately terminate without right to exercise same, provided that in no event may the term of the Option exceed
10 years. Notwithstanding the provisions of subsection 14(c), the Committee may provide for the vesting of all or any part of the
Optionee’s Options that are unvested at the date the Optionee ceases to be employed by, provide services to, or be a Director
or Officer of, the Company or an affiliate, and may extend the time period for exercise of an Option to a maximum of the original
term of the Option, all as the Committee deems appropriate in the circumstances contemplated by subsection 14(c).

 

15. Changes in Common Stock.

 

The aggregate number and class of shares
on which Options may be granted under this Plan, the number and class of shares covered by each outstanding Option, and the exercise
price per share thereof (but not the total price), of each such Option, will all be proportionately adjusted for any increase or
decrease in the number of issued shares of Common Stock resulting from a split-up or consolidation of shares of Common Stock, or
any spin-off, spin-out, split-up, or other distribution of assets to stockholders, or any like capital adjustment or the payment
of any such stock dividend, or any other increase or decrease in the number of shares of Common Stock without the receipt of consideration
by the Company, or assumption and conversion of outstanding grants due to an acquisition.

 

16. Amendment and Discontinuance.

 

The Board may amend the terms of the Plan
to comply with the requirements of any applicable regulatory authority without obtaining stockholder approval, including (a) amendments
of a housekeeping nature to the Plan; (b) a change to the vesting provisions of an Option or the Plan; and (c) a change to the
termination provisions of an Option or the Plan which does not entail an extension beyond the original expiry date.

 

Notwithstanding the foregoing, no amendment
to this Plan will, except with the consent of the Optionee, adversely affect the rights under an Option previously granted.

 

If the amendment of an Option requires
regulatory approval or stockholder approval, such amendment may be made prior to such approvals being given, but no such amended
Options may be exercised unless and until such approvals are given.

 

17. Term of Plan.

 

This Plan will be effective as of the Effective
Date and will terminate on the earlier of:

(i). the date which
is ten years from the Effective Date; and

(ii). such earlier
date as the Board may determine (the “Termination Date”).

 

    	 

    	 

    

 

No Incentive Stock Options will be granted
under this Plan after the Termination Date.

 

18. Compliance with Securities
Laws.

 

No Option will be exercisable in whole
or in part, nor will the Company be obligated to issue any Option Shares pursuant to the exercise of any such Option, if such exercise
and issuance would, in the opinion of counsel for the Company, constitute a breach of any applicable laws from time to time, or
the rules from time to time of the SEC or other securities regulatory authority to which the Company is subject.  Each Option
will be subject to the further requirement that if at any time the Board determines that the listing or qualification of the Option
Shares under any securities legislation or other applicable law, or the consent or approval of any governmental or other regulatory
body (including the SEC), is necessary as a condition of, or in connection with, the issue of the Option Shares hereunder, such
Option may not be exercised in whole or in part unless such listing, qualification, consent or approval has been effected or obtained
free of any conditions not acceptable to the Board.  No shares of Common Stock will be delivered pursuant to the exercise
of any Option, in whole or in part, until qualified for delivery under such securities laws and regulations as may be deemed by
the Committee to be applicable thereto. In order to ensure compliance with applicable securities laws, upon demand by the Company,
the Optionee will deliver to the Company a representation in writing that the purchase of all shares of Common Stock with respect
to which notice of exercise of the Option has been given by Optionee is being made for investment only and not for resale or with
a view to distribution and containing such other representations and provisions with respect thereto as the Company may require.
Upon such demand, delivery of such representation promptly and prior to the transfer or delivery of any such shares and prior to
the expiration of the option period will be a condition precedent to the right to purchase such shares.   Each Optionee
further acknowledges that any Option Shares issued upon exercise of an Option may be “restricted securities” upon issuance
and the certificates representing such shares legended in the event that the issuance of the Option Shares has not been registered
by an effective registration statement under the United States Securities Act of 1933, as amended.  In addition to any resale
restrictions imposed under securities laws, where the exercise price of the Option is based on the Discounted Market Price, any
Option Shares will be legended with a four-month hold period under the policies of the SEC, which hold will date from the date
the Option is granted.

 

19. Rights as Stockholder and
Employee.

 

An Optionee will have no rights as a stockholder
of the Company with respect to any shares of Common Stock covered by an Option until the date of the issuance of the stock certificate
for such shares. Neither the Plan, nor the granting of an Option or other rights herein, nor any other action taken pursuant to
the Plan will constitute or be evidence of any agreement or understanding, express or implied, that an Eligible Participant has
a right to continue as an Employee for any period of time or at any particular rate of compensation.

 

20. Currency.

 

All references to “$” herein
are to the United States Dollar.

 

21. Governing Law.

 

This Agreement will be governed and construed
in accordance with the laws of the State of Nevada without regard to principles of conflicts of law. 

 

    	 

    	 

    

 

22.  Limitations on Sale of Stock
Purchased Under the Plan. 

 

The Plan is intended to provide Common
Stock for investment and not for resale. The Company does not, however, intend to restrict or influence any Eligible Participant
in the conduct of his own affairs. An Eligible Participant, therefore, may sell stock purchased under the Plan at any time he or
she chooses, subject to compliance with any applicable Federal or state securities laws. THE PARTICIPANT ASSUMES THE RISK OF ANY
MARKET FLUCTUATIONS IN THE PRICE OF THE STOCK.

 

23. Regulatory Approval.  

 

This Plan will be subject to the approval
of any regulatory authority whose approval is required, including any approval of the SEC. Any Options granted under this Plan
prior to such approvals being given will be conditional upon such approvals being given, and no such Options may be exercised unless
and until such approvals are given. The Company's obligation to sell and deliver shares of the Common Stock under this Plan is
subject to the regulatory approval required in connection with the authorization, issuance, or sale of such shares.

 

24. Other Benefit and Compensation
Programs. 

 

Unless otherwise specifically determined
by the Committee, grants of Options under the Plan will not be deemed a part of an Eligible Participant's regular, recurring compensation
for purposes of calculating payments or benefits from any Company benefit plan or severance program. Further, the Company may adopt
other compensation programs, plans or arrangements as it deems appropriate or necessary.

 

25. Unfunded Plan.  

 

Unless otherwise determined by the Board,
the Plan will be unfunded and will not create (or be construed to create) a trust or a separate fund or funds.  The Plan will
not establish any fiduciary relationship between the Company and any Eligible Participant or other person.  To the extent
any person holds any rights by virtue of Options granted under the Plan, such rights will constitute, general unsecured liabilities
of the Company and will not confer upon any Optionee any right, title or interest in any assets of the Company.

 

26. Arbitration.  

 

Any controversy arising out of, connected
to, or relating to any matters herein of the transactions between an Eligible Participant and the Company (including for purposes
of arbitration, officers, directors, employees, controlling persons, affiliates, professional advisors, agents, or promoters of
the Company), on behalf of the undersigned, or this Agreement, or the breach thereof, including, but not limited to any claims
of violations of Federal and/or State Securities Acts, Banking Statutes, Consumer Protection Statutes, Federal and/or State Anti-Racketeering
(e.g. RICO) claims as well as any common law claims and any State Law claims of fraud, negligence, negligent misrepresentations,
unjust termination, breach of contract, and/or conversion will be settled by arbitration; and in accordance with this paragraph
and judgment on the arbitrator's award may be entered in any court having jurisdiction thereof in accordance with the provisions
of  Nevada law.  In the event of such a dispute, each party to the conflict will select an arbitrator, which will constitute
the three person arbitration board.  Participants will be required to waive any right to an award of punitive damages. The
decision of a majority of the board of arbitrators, who will render their decision within thirty (30) days of appointment of the
final arbitrator, will be binding upon the parties. Venue for arbitration will lie in Canton, Georgia.

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