Document:

Exhibit
4.1

THIS WARRANT WILL BE VOID
AND OF NO VALUE UNLESS EXERCISED ON OR BEFORE 4:30 P.M. (VANCOUVER TIME) ON
MARCH 26, 2008.

UNLESS PERMITTED UNDER SECURITIES LEGISLATION, THE
HOLDER OF THE SECURITIES MUST NOT TRADE THE SECURITIES BEFORE JANUARY 27, 2007.
(THE “NI 45-102 HOLD PERIOD LEGEND”)

THE SECURITIES REPRESENTED HEREBY MAY NOT BE
TRANSFERRED UNLESS (I) SUCH SECURITIES HAVE BEEN REGISTERED FOR SALE PURSUANT
TO THE SECURITIES ACT OF 1933, AS AMENDED, (II) THE CORPORATION HAS RECEIVED AN
OPINION OF COUNSEL SATISFACTORY TO IT THAT SUCH TRANSFER MAY LAWFULLY BE MADE
WITHOUT REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR
QUALIFICATION UNDER APPLICABLE STATE SECURITIES LAWS, OR (III) SUCH SECURITIES
ARE SOLD IN CANADA PURSUANT TO RULE 904 OF REGULATION S UNDER THE SECURITIES
ACT OF 1933, AS AMENDED.  IN ADDITION, NO
HEDGING TRANSACTION MAY BE CONDUCTED WITH RESPECT TO THESE SHARES UNLESS SUCH
TRANSACTIONS ARE IN COMPLIANCE WITH THE SECURITIES ACT OF 1933, AS AMENDED.
(THE “U.S. LEGEND”)

UNTIL THE ABOVE
RESTRICTIONS CEASE TO APPLY, SHARE CERTIFICATES ISSUED PURSUANT TO THE EXERCISE
OF THE RIGHTS REPRESENTED BY THIS WARRANT CERTIFICATE WILL BEAR THE ABOVE NI
45-102 HOLD PERIOD LEGEND AND U.S. LEGEND.

TRANSFERABLE
WARRANTS

STORM CAT
ENERGY CORPORATION

(Incorporated under the laws of British Columbia)

Right to Purchase

▼Common
Shares

WARRANT
CERTIFICATE FOR PURCHASE OF COMMON SHARES

THIS IS TO CERTIFY
THAT, for value received, ▼, ▼(hereinafter called the “Holder”) is
entitled to subscribe for and purchase ▼fully paid and non-assessable
Common Shares in the capital of Storm Cat Energy Corporation (hereinafter
called the “Corporation”) at any time prior to 4:30 p.m. (Eastern Time) on
March ▼, 2008 at the price of CDN$1.90 per share (the “Exercise Price”),
subject to the provisions and upon the terms and conditions hereinafter set
forth.

The rights
represented by this Warrant Certificate may be exercised by the Holder, in
whole or in part (but not as to a fractional share of Common Shares), by
completing the subscription form attached hereto as Schedule A and surrendering
this Warrant Certificate at the office of the Transfer Agent of the
Corporation, Pacific Corporate Trust Company, of 10th

 

 

Floor, 625 Howe Street,
Vancouver, British Columbia, V6C 3B8, together with a certified cheque payable
to or to the order of the Corporation in payment of the Exercise Price
multiplied by the number of Common shares subscribed for.

In the event of
any exercise of the rights represented by this Warrant Certificate,
certificates for the Common Shares so purchased will be delivered to the Holder
within a reasonable time, not exceeding three business days after the rights
represented by this Warrant Certificate will have been so exercised, and,
unless this Warrant Certificate has expired, a new Warrant Certificate
representing the right to acquire the number of Common Shares, if any, with
respect to which the rights represented by this Warrant Certificate will not
then have been exercised will also be issued to the Holder within such time.

The Corporation
covenants and agrees that all Common Shares which may be issued upon the
exercise of the rights represented by this Warrant Certificate will, upon
issuance, be fully paid and non-assessable and free of all liens, charges and
encumbrances.  The Corporation further
covenants and agrees that during the period within which the rights represented
by this Warrant Certificate may be exercised, the Corporation will at all times
have authorized and reserved, a sufficient number of Common Shares to provide
for the exercise of such rights.

THE FOLLOWING ARE
THE TERMS AND CONDITIONS REFERRED TO IN THIS WARRANT CERTIFICATE:

1.               If the Corporation at any time subdivides its
outstanding Common Shares into a greater number of shares, the Exercise Price
will be proportionately reduced and the number of subdivided Common Shares
entitled to be purchased proportionately increased, and conversely, in the
event the outstanding Common Shares of the Corporation are reduced, combined or
consolidated into a smaller number of shares, the Exercise Price will be
proportionately increased and the number of reduced, combined or consolidated
Common Shares entitled to be purchased hereunder will be proportionately
decreased.

If any capital
reorganization, reclassification or consolidation of the capital stock of the
Corporation, or the merger or amalgamation of the Corporation with another body
corporate, trust, partnership or other entity, or a sale or conveyance to any
other body corporate, trust, partnership or other entity of the property and
assets of the Corporation as an entirety or substantially as an entirety is
effected, then as a condition of such reorganization, reclassification,
consolidation, merger, amalgamation, sale or conveyance, the Corporation will
ensure that the Holder will have the right to purchase and receive upon the
basis and upon the terms and conditions specified in this Warrant Certificate,
and in lieu of the Common Shares immediately theretofore purchasable and
receivable upon the exercise of the rights represented hereby, the number of
shares or other securities or property of the Corporation or other body
corporate, trust, partnership or other entity resulting from such merger,
amalgamation or consolidation, or to which such sale or conveyance may be made,
as the case may be, that would have been received by the Holder if, on the
record or effective date thereof, as applicable, the Holder had been the
registered holder of the number of Common Shares purchasable and receivable
upon the exercise of the rights evidenced by this Warrant 

 2
 

 

 

Certificate.  The Corporation will not effect any merger,
amalgamation or sale or conveyance of all or substantially all of the assets of
the Corporation unless prior to or simultaneously with the consummation thereof
the successor corporation (if other than the Corporation) resulting from such
merger, amalgamation or sale or conveyance of all or substantially all of the
assets of the Corporation assumes, by written instrument executed and mailed or
delivered to the Holder, the obligation to deliver to the Holder such shares or
securities as the Holder may be entitled to purchase, in accordance with the
foregoing provisions.

The adjustments
provided for in this Warrant Certificate in respect of the number and class of
securities that are to be received by the Holder on the exercise of the
Warrants are cumulative.  After any
adjustment made pursuant to this Section 1, the term “Common Shares” in this
Warrant Certificate shall mean securities of any class or classes that, as a
result of such adjustment and all prior adjustments pursuant to this Section,
the Holder is entitled to receive upon the exercise of the Warrant, and all
references to the number of Common Shares purchasable and receivable upon
exercise of the Warrant shall be deemed to be references to the number of Common
Shares or other property or securities the Holder is entitled to receive, as a
result of such adjustment and all prior adjustments pursuant to this Section,
upon exercise of the Warrant.

2.               In case at any time:

(a)            the
Corporation pays any dividend payable in stock upon its Common Shares or makes
any distribution to the holders of its Common Shares;

(b)           the Corporation offers
for subscription pro rata to the holders of its Common Shares any additional
shares of stock of any class or other rights;

(c)            there is any capital
reorganization, or reclassification of the capital stock of the Corporation, or
consolidation or merger or amalgamation of the Corporation with, or sale of all
or substantially all of its assets to, another corporation; or

(d)           there is a voluntary or
involuntary dissolution, liquidation or winding-up of the Corporation;

then, and in any one or
more of such cases, the Corporation will give to the Holder, at least twenty
days’ prior written notice of the date on which the books of the Corporation
will close or a record will be taken for such dividend, distribution or
subscription rights, or for determining rights to vote with respect to such
reorganization, reclassification, consolidation, merger, or amalgamation,
dissolution, liquidation or winding-up and in the case of any such
reorganization, reclassification, consolidation, merger, amalgamation, sale,
dissolution, liquidation or winding-up, at least twenty days’ prior written
notice of the date when the same will take place.  Such notice in accordance with the foregoing
clause, will also specify, in the case of any such dividend, distribution or
subscription rights, the date on which the holders of Common Shares will be
entitled thereto, and, if applicable, the date on which the holders of Common
Shares will be entitled to exchange their Common Shares for securities or other
property deliverable upon such reorganization, reclassification, consolidation,
merger, amalgamation, sale, dissolution, 

 3
 

 

 

liquidation or
winding-up.  Each such written notice
will be given by first class mail, registered postage prepaid, addressed to the
Holder at the address of the Holder, as shown on the books of the Corporation.

3.               This Warrant will not entitle the Holder to any rights
as a shareholder of the Corporation, including without limitation, voting
rights.

4.               Subject to the terms hereof, this Warrant may be
transferred, subject to the terms set forth in the Transfer Form.  No transfer of this Warrant shall be
effective unless this Warrant Certificate is accompanied by a duly executed
Transfer Form in the form attached hereto as Schedule “B” or other instrument
of transfer in such form as the Corporation may from time to time prescribe,
together with such evidence of the genuineness of each endorsement, execution
and authorization and of other matters as may reasonably be required by the
Corporation, are delivered to the Corporation. 
No transfer of this Warrant shall be made if in the opinion of counsel
to the Corporation such transfer would result in the violation of any
applicable securities laws.

5.               This Warrant is exchangeable, upon the surrender
hereof by the Holder at the office of the Transfer Agent of the Corporation,
for new Warrants of like tenor representing in the aggregate the right to
subscribe for and purchase the number of shares which may be subscribed for and
purchased hereunder, each of such new Warrants to represent the right to
subscribe for and purchase such number of Common Shares as will be designated
by the Holder at the time of such surrender.

IN WITNESS WHEREOF
the Corporation has caused this Warrant Certificate to be signed by its duly
authorized officers under its corporate seal, and this Warrant Certificate to
be dated September 26, 2006.

	
  

  	
  STORM CAT ENERGY
  CORPORATION

  
	
   

  	
   

  	
   

  
	
   

  	
  Per:

  	
   

  
	
   

  	
   

  	
  Paul Wiesner,
  Chief Financial Officer

  

 4

 

SCHEDULE
A

SUBSCRIPTION
FORM

	
  TO:

  	
  STORM CAT ENERGY CORPORATION (the “Corporation”)

  
	
   

  	
  c/o Pacific
  Corporate Trust Company

  
	
   

  	
  625 Howe Street,
  10th Floor,

  
	
   

  	
  Vancouver, British
  Columbia

  
	
   

  	
  V6C 3B8

  
	
   

  	
   

  	
   

  
	
   

  	
  Attention:

  	
  Stock Transfer Department

  

 

The undersigned (the “Warrantholder”)
hereby exercises the right to purchase and hereby subscribes for             
Common Shares (the “Exercised Warrant Shares”) in the capital stock of the
Corporation referred to in the attached Warrant Certificate according to the
conditions thereof and herewith makes payment by certified cheque of the
purchase price in full for the said shares.

The Warrantholder
acknowledges that, unless the hold period set out in the NI 45-102 Hold Period
Legend (as such term is defined on the first page of the Warrant Certificate)
has expired, the share certificates representing the Exercised Warrant Shares
will bear the NI 45-102 Hold Period Legend and the following legend:

“THE SECURITIES
REPRESENTED BY THIS CERTIFICATE ARE LISTED ON THE TORONTO STOCK EXCHANGE (“TSX”);
HOWEVER, THE SAID SECURITIES CANNOT BE TRADED THROUGH THE FACILITIES TSX SINCE
THEY ARE NOT FREELY TRANSFERABLE, AND CONSEQUENTLY ANY CERTIFICATE REPRESENTING
SUCH SECURITIES IS NOT “GOOD DELIVERY” IN SETTLEMENT OF TRANSACTIONS ON TSX.”

The Warrantholder
acknowledges that the share certificates representing the Exercised Warrant
Shares will bear the U.S. Legend (as such term is defined on the first page of
the Warrant Certificate).

The Warrantholder
represents and warrants that it:  [check one only]

o                                    A.            is
not in the United States or a U.S. Person as defined in Rule 902 of Regulation
S under the United States Securities Act of 1933, as amended (the “U.S.
Securities Act”) and is not acquiring the Exercised Warrant Shares for the
account or benefit of a U.S. Person or a person in the United States; or

o                                    B.            the
Warrantholder is delivering a written opinion of U.S. Counsel to the effect
that the Warrant and the Exercised Warrant Shares have been registered under
the U.S. Securities Act or are exempt from registration thereunder.

 

 

The Warrantholder hereby
irrevocably directs that the said Exercised Warrant Shares be issued and
delivered as follows:

	
  Name(s) in Full

  	
   

  	
  Address(es) (include Postal/Zip Code)

  	
   

  	
  Numbers(s) of Common shares

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  

 

(Please print in
full the name in which certificates are to be issued.  If any of the securities are to be issued to
a person or persons other than the Warrantholder, then the Transfer Form must
be completed and the transferee and the Warrantholder must pay to the
Corporation all eligible transfer taxes or other government charges.)

DATED this       
day of             ,
      .

	
  

  	
   

  	
   

  
	
  Witness or
  Signature Guarantee*

  	
   

  	
  Signature of Warrantholder

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Name of Warrantholder

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Address of Warrantholder

  

 

*  If the underlying securities are to be issued
to a person other than the Warrantholder then the signature must be guaranteed
by a Schedule I Canadian Chartered Bank or a guarantee under the North American
STAMP, SEMP or MSP Medallion Programs.

 2

 

APPENDIX
B

TRANSFER
FORM

FOR VALUE RECEIVED, the
undersigned hereby sells, assigns and transfers unto

	
  

  	
   

  
	
  (name)

  	
  (the “transferee”)

  
	
   

  	
   

  
	
   

  
	
  (address)

  

 

            
of the Warrant Shares registered in the name of the undersigned represented by
the within certificate.

The undersigned hereby certifies that
the Warrant Shares are being sold, assigned or transferred in accordance with
all applicable securities laws.

DATED the       
day of             ,
      .

	
  Signature of Warrantholder

  	
   

  
	
  Guaranteed by:

  	
  (Signature of
  Warrantholder)

  
	
   

  	
   

  	
   

  
	
   

  	
  *

  	
   

  
	
   

  	
   

  	
  * Authorized Signature Number

  

 

NOTE:  The signature to this transfer must
correspond with the name as recorded on the Warrant Certificate in every
particular without alteration or enlargement or any change whatever.  The signature of the person executing this
transfer must be guaranteed by a Schedule I Canadian Chartered Bank or a
guarantee under the North American STAMP, SEMP or MSP Medallion Programs.

Transferee Acknowledgement

The following is to be
completed by the transferee if a Warrant Certificate is tendered for transfer
and bears a restrictive legend in substantially the form set forth on the face
page of the subject Warrant Certificate that is the subject of this transfer
(check one):

o                                    A.            The undersigned transferee hereby certifies
that (i) it was not offered the Warrants while in the United States, it is not
a U.S. person (as defined in 

 

 

Regulation S of the United States Securities Act of 1933, as amended
(the “U.S. Securities Act”), and did not execute this certificate while within
the United States, (ii) it is not acquiring any of the Warrant Shares
represented by this Warrant Certificate by or on behalf of a U.S. person or any
person within the United States, and (iii) it has in all other respects
complied with the terms of Regulation S of the U.S. Securities Act, or any
successor rule or regulation of the United States Securities and Exchange
Commission as presently in effect; or

o                                    B.            The undersigned transferee is delivering a
written opinion of U.S. Counsel to the effect that this transfer of Warrant
Shares and the issuance of Common Shares to be delivered upon exercise thereof
have been registered under the US Securities Act or are exempt from
registration thereunder.

DATED this       
day of             ,
      

 

	
  ACKNOWLEDGMENT

  	
   

  
	
   

  	
  (Signature of Transferee)

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  Print full Name

  

 

 

 2Prepared and filed by St Ives Financial

Exhibit 10.2

PERFORMANCE FOR

STOCK OPTIONS AGREEMENT

     This PERFORMANCE FOR STOCK OPTIONS AGREEMENT (“Agreement”), is made this 27th day of September, 2006, by and between Modern Medical Modalities Corporation, a New Jersey Corporation (“The Company”), and Paul W. Harrison.  

     The Company has established a plan for accelerated growth through mergers and acquisitions, and has decided that an experienced team be formed to increase the likelihood that its rapid growth plan will be achieved. The Company also realizes that stock options incentives are needed to reward each person on the team, and that the team needs a proven leader in mergers and acquisitions such as Paul W. Harrison. 

     The Company desires to provide a performance based stock options allocation of 434,000 shares to Paul W. Harrison for serving as the merger and acquisition team leader, and the Company has set forth specific stock options performance criteria below to be met in order to be paid the earned portion of the allocation.

Stock Options Performance Criteria: 

		
1.	
50,000 shares are earned and exercise-able for the Company’s common stock upon the execution of the corresponding Paul Harrison Stock Option Agreement.
	 	 	 

		
2.	
An additional 46,000 shares are earned and exercise-able for the Company’s common stock upon the successful completion of the Company achieving $3,850,000 in new revenues based upon business obtained through external business development combinations that includes mergers and acquisitions transactions. In the event that the Company decides to accept less than the $3,850,000 in revenues (1st alternate revenues) as part of a merger or acquisition, or other acceptable business combination transaction, the number of shares shall be pro-rated by multiplying 46,000 by the percentage equal to the 1st alternate revenues divided by $3,850,000.
	 	 	 

		
3.	
An additional 61,000 shares are earned and exercise-able for the Company’s common stock upon the successful completion of the Company achieving the next $6,500,000 in new revenues based upon business obtained through external business development combinations that include mergers and acquisitions transactions. In the event that the Company decides to accept less than the $6,500,000 in revenues (2nd alternate revenues) as part of a merger or acquisition, or other acceptable business combination transaction, the number of shares shall be pro-rated by multiplying 61,000 by the percentage equal to the 2nd alternate revenues divided by $6,500,000.  
	 	 	 

1

		 	 
		
4.	
An additional 102,500 shares are earned and exercise-able for the Company’s common stock upon the successful completion of the Company achieving the next $10,200,000 in new revenues based upon business obtained through external business development combination that includes mergers and acquisitions transactions. In the event that the Company decides to accept less than the $10,200,000 in revenues (3rd alternate revenues) as part of a merger or acquisition, or other acceptable business combination transaction, the number of shares shall be pro-rated by multiplying 102,500 by the percentage equal to the 3rd alternate revenues divided by $10,200,000.  
	 	 	 

		
5.	
An additional 174,500 shares are earned and exercise-able for the Company’s common stock upon the successful completion of the Company achieving the next $16,600,000 in new revenues based upon business obtained through external business development combination that includes mergers and acquisitions transactions. In the event that the Company decides to accept less than the $16,600,000 in revenues (4th alternate revenues) as part of a merger or acquisition, or other acceptable business combination transaction, the number of shares shall be pro-rated by multiplying 174,500 by the percentage equal to the 4th alternate revenues divided by $16,600,000.  

TERM.  This Agreement shall commence upon execution hereof as of the Effective Date and continue until September 26, 2011.

GOVERNING LAW.  This Agreement is being entered into and shall be governed by and construed in accordance with the laws of the State of New Jersey without regard to any conflicts of law principles.

	Signed By:	/s/ Baruh Hayut	 	Signed By:	/s/ Paul Harrison
	 	

    	 	 	

    
	 	 	 	 	 
	Title:	Chairman & CEO	 	Title:	Director
	 	

    	 	 	

    
	 	 	 	 	 
	Effective Date:	9/27/06	 	Effective Date:	9/27/06
	 	

    	 	 	

    

2

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