Document:

CONSULTING AGREEMENT

This Consulting Agreement (“Agreement”) entered into as of this 14th day of  November, 2010 by and between Gilles Trahan, a resident of the Common Wealth of the Bahas (“Consultant”), and assignees whose address is Sunsational, Old FOrt Point, Nassau Bahamas and Elemental Protective Coatings Corp. or it’s subsidiaries (“Company”) whose address is 14 Inglewood Ave,  Toronto ON Canada.

 

For valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties agree as follows:

 

1.   Services.  Consultant shall provide the following services (“Services”) to the Company.

	
  

	
b)

	
Assistance and advisement with strategic and financial planning in order to formulate and achieve business plan objectives.

	
  

	
c)

	
Introductions to legal counsel, accounting, investment banking and other professionals to provide services to the Company as needed.

	
  

	
d)

	
Introductions to potential strategic partners, business associates and other contacts to assist the Company with the implementation of its business plan.

	
  

	
e)

	
Recommendations and assistance with recruiting members for the Board of Directors and Advisory Board.

	
  

	
f)

	
Identifying candidates for potential mergers and acquisitions.

	
  

	
g)

	
Assistance and advisement with identifying and recruiting management employees and creating associated job descriptions.

	
  

	
h)

	
Introductions to potential clients including individual person, corporation, trust and partnerships that may have land available for carbon credit creation.  ie its first business development introduction for 9,00 acres in Tennessee.

2.   Compensation: In consideration for the Services provided by the Consultant, Company shall provide Consultant with the following compensation:

	
  

	
a)

	
As for consideration for the services to be provided by Gilles Trahan for Client pursuant to this Agreement, Client shall transfer a consulting fee to Gilles Trahan upon the signing of this Agreement Two Hundred Fifty Thousand Dollars ($250,000) in USD certified cheque or shares of common stock of Elemental Protective Coatings (OTC: EPRO) (the "Stock"), which Client represents and warrants (i) are freely tradable and non-restricted pursuant to all applicable federal and state securities laws (ii)
are not subject to any restrictions on transferability and (iii) are not "restricted securities" as defined in Rule 144 of the General Rules and Regulations under the Securities Act of 1933, as amended, as promulgated by the U.S. Securities and Exchange Commission (the "SEC").  Client understands that it will be the responsibility of Client to take all prudent and necessary action to insure that the Stock has been validly issued, duly paid and non-assessable upon its transfer to Gilles Trahan and that it will be the responsibility of Client to insure that such transfer to Gilles Trahan is not violative of any applicable federal or state securities laws for the use of the Stock as contemplated by this Agreement.  Stock will be delivered to Gilles Trahan prior to its commencing services hereunder.  In order for Gilles Trahan to satisfy its obligations under
Section 5 of the Securities Act of 1933, as amended, Client shall also deliver to Gilles Trahan, within ten (10) days of the execution of this Agreement, a legal opinion issued by the OTC’s corporate counsel in form and substance satisfactory to Gilles Trahan confirming the existence, registration, history and availability of the Stock pursuant to the terms of this Agreement.

 

  

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In the event that a future determination is made by Gilles Trahan that said legal opinion is invalid or that the Stock does not comply fully with the provisions of this Section 5, Client agrees that it will immediately replace the Stock with other shares of freely tradable common stock of Elemental Protective Coatings Corp/ (OTC: EPRO) that do comply fully with the provisions contained in this Section 5.  If no such replacement shares are reasonably available, Client agrees to immediately compensate Gilles Trahan in U.S. currency in an amount equal to Twoe
Hundred FiftyThousand ($250,000) Dollars, which the parties agree is the cash value of the original agreed upon compensation under this Agreement.

3.   Term. This Agreement shall be in effect for a period of six (6) months. Either the Company or Consultant may terminate this Agreement immediately upon thirty (30) days prior written notice.

4.   No Representations.  Company understands and agrees that Consultant makes no representations or warranties whatsoever regarding (i) the success or likelihood of Consultant’s efforts, (ii) the completeness or accuracy of any due diligence by the Consultant, or (iii) the results or impact of the Consultant’s performance of any of the Services.

5.   Indemnity.  Company agrees to indemnify and hold harmless Consultant from any and all losses, claims, damages, expenses (including reasonable fees, disbursements, and other charges of Counsel), actions, proceedings, or investigations (whether formal or informal), or threats thereof (collectively, the “Claims”), based upon, relating to, or arising in connection with Consultant’s performance of its obligations hereunder, except in the event that such claims result from Consultant’s gross negligence or willful misconduct.  Consultant agrees to indemnify and hold harmless
Company from any and all Claims based upon, relating to or arising in connection with Consultant’s gross negligence or willful misconduct in the performance of its duties under this Agreement.

6.   Cooperation.  To the fullest extent possible, Company will furnish to the Consultant all financial and other information and data as Consultant believes appropriate in connection with its activities on Company’s behalf, and shall provide Consultant full access to its officers, directors, employees, and professional advisors.

 

  

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7.   Confidentiality.  In connection with Consultant’s performance hereunder, it is contemplated that Company may supply to Consultant certain non-public or proprietary information concerning the Company (“Confidential Information”).  The Company agrees to use its best efforts to appropriately mark all such information that is delivered in written form.  Consultant agrees to use the Confidential Information solely for the purpose of rendering Services pursuant to and in accordance with this Agreement and shall not, without the prior written consent of Company disclose any
Confidential Information to any person, other that its officers, directors, employees, and outside advisors, provided however that the foregoing shall not apply to any information which becomes publicly available other than as a result of the breach of Consultant’s undertaking hereunder, or that which Consultant is required to disclose by judicial or administrative process in connection with any action, suit, proceeding or claim.

8.   Non-Exclusivity.  Nothing herein contained shall be construed to limit or restrict Consultant or its affiliates in conducting such business with respect to others, or in rendering such consulting advice and services to others.  Consultant shall perform its services hereunder as an independent contractor and not as employee or agent of Company or any affiliate thereof.  It is expressly understood and agreed to by the parties hereto that Consultant shall have no authority to act for, represent or bind Company or any affiliate thereof in any manner, except as may be agreed to expressly by
Company in writing.

9.   Expenses.  The Company will be responsible for reasonable out of pocket expenses incurred in direct connection with the services to be rendered by Consultant hereunder, including but not limited to transportation, food and lodging, telephone and courier charges, and for such legal fees as are required to furnish the services and contemplated hereunder.  Such expenses require prior written approval of the Company.

10.  Miscellaneous.

	
  

	
(a)

	
Further Actions.  At any time and from time to time, each party agrees, at its expense, to take such actions and to execute and deliver such documents as may be reasonably necessary to effectuate the purposes of this Agreement.

	
  

	
(b)

	
Entire Agreement/Modification.  This Agreement sets forth the entire understanding of the parties with respect to the subject matter, and may be modified only by a written instrument duly executed by the party to be bound.

	
  

	
(c)

	
Notices.  Any notice or other communication required or permitted to be given hereunder shall be in writing and shall be mailed by certified mail, return receipt requested (or by the most nearly comparable method if mailed from or to a location outside of the United States), or delivered against receipt to the party to whom it is to be given at the address of such party set forth on the first page of this Agreement (or to such address as the party shall have furnished in writing in accordance with the provisions of this section).  Any notice given to any corporate party shall be addressed to the attention of the corporation’s secretary. Any notice of other communication given by certified mail (or by such comparable method) shall be deemed given at the time of
receipt thereof (or comparable act).

 

  

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(d)

	
Waiver.  Any waiver by any party of a breach of any provision of this Agreement shall not operate as or be construed to be a waiver of any other breach of that provision or any breach of any other provision of this Agreement.

	
  

	
(e)

	
Binding Effect.  The provision of this Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns, provided, however, that any assignment by any party of its rights under this Agreement without the written consent of the other party shall be void.

	
  

	
(f)

	
Damages.  In the event of a breach by one party of any covenant, representation, warranty or other term of this Agreement, the other party shall be relieved of any obligations it may have hereunder, and in addition to the rights and remedies granted hereunder, shall be entitled to all other recourse provided by applicable law.

	
  

	
(g)

	
Severability.  If any provisions of this Agreement is invalid, illegal or enforceable, the balance of this Agreement shall remain in effect, and any provision is inapplicable to any person or circumstance, it shall nevertheless remain applicable to any other persons and circumstances.

	
  

	
(h)

	
Licenses.  It is specifically understood that Consultant is not a registered broker/dealer or investment advisor and it is hereby acknowledged by the Company that Consultant will not be acting in those capacities.

	
  

	
(i)

	
Counterparts.  This Agreement may be executed in any number of counterparts, each of which shall be deemed original, but all of which together shall constitute one and the same instrument.

	
  

	
(j)

	
Prior Agreements.  This Agreement supersedes any and all agreements made in the past, either written or verbal, and as such cancels any and all previous Agreements EXCEPT for the promissory note payable to Gilles Trahan by Company.

	
  

	
(k)

	
Legal Venue. The laws of the State of Florida shall govern this Agreement. Any actions shall be entered in the jurisdiction of Volusia County.

 

  

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IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first set forth above.

	  	
Elemental Protective Coatings Corp.

	  	
“Company”

	  	  
	  	
/s/ John Wilkes

	  	  
	  	
By: John Wilkes

	  	
Title: President, Diretor

	  	  
	  	
Gilles Trahan “Consultant”

	  	  
	  	
/s/ Gilles Trahan

	  	
By: Gilles Trahan

 

  

5MEMORANDUM OF UNDERSTANDING

THIS MEMORANDUM OF UNDERSTANDING is dated February 17, 2011

BETWEEN:

BIO-CARBON SOLUTIONS INTERNATIONAL INC

A corporation registered in the State of Nevada, USA, having an address at:

123 Queen St East, Suite 202

Sault Ste Marie, Ontario,

Canada P6A 2Z5

As “BCSI”

AND:

GENESYS INTERNATIONAL CORPORATION LTD

A corporation registeted in India having an address at:

Prestige Terminus-II,

HAL Airport Exit Road

Bangalore - 560 017

India

As “Genesys”

Whereas

BCSI is a publicly held carbon development and consulting company listed on the Bulletin Board as BICS with leading edge expertise in remote sensing and calculations of carbon offsets from resource inventory, and with intellectual property in all aspects of the value chain involved in carbon sequestration from biological systems;

And whereas

BCSI management intends to develop carbon projects in India where carbon offset credits and mapping and/or quantifying ecological attributes or mineral resources are becoming more and more important currencies worldwide and more particularly India;

And whereas

Genesys is a publicly held company listed on the Bombay Stock Exchange Ltd. and National Stock Exchange of India Ltd., was founded in 1995 with the mission to become a global leader as a single-source Photogrammetry, GIS/Mapping Services, and IT consulting firm;

And whereas

 

Genesys has gained broad experience working for local, state, and federal agencies; telecommunications firms; utilities; energy companies; water/waste water companies; agriculture and environmental companies; engineering firms; transportation authorities; as well as insurance, financial and e-commerce enterprises worldwide;

And whereas

 

  

  

  

 

BSCI and Genesys wish to enter into this Memorandum of Understanding (the “MOU”) to permit BCSI and Genesys to share information for the purpose of developing joint projects or joint business undertakings including carbon offset projects, co-markeking efforts, outsourcing or joint research and development efforts for the development of new processes or services (the “Agreement”) as described in Schedule 1;

NOW, THEREFORE, in consideration of the premises and the mutual promises and covenants herein, the parties hereto (the “Parties”, or individually the “Party”) agree as follows:

PART I

NON-BINDING NATURE OF MOU

1.1                      Subject to § 2, this MOU is solely an expression of the Parties' current intentions and shall not create binding obligations on the part of either Party except for the confidentiatly of each party’s confidential information (Parts  4-9).

PART 2

AGREEMENT

2.1                      The Parties intend, through good faith negotiations, to enter into an Agreement to formalize the business opportunites outlined in Schedule 1, and subject to mutally acceptable negotiations.

2.2                      The Agreement will contain, among other things, participation, ownership, covenants and other terms and conditions customary to agreements of such kind, in addition to those terms and conditions specifically contemplated herein.

PART 3

TERM

3.1                      This MOU shall be effective upon the date hereof, and shall continue in full force and effect until the earliest of

(a)         February 4, 2016

(b)         the execution of a formal Agreement between the parties.

3.2                       Notwithstanding the provisions of § 3. 1, this MOU may also be terminated by either Party at any time by giving written notice to the other Party if the other Party:

(a)         breaches any binding and enforceable provision of this MOU, and if curable, fails to cure such breach within 15 days after receiving a written notice to cure such breach,

or

(b)         becomes bankrupt or makes an assignment for the benefit of creditors, or bankruptcy, insolvency, reorganization, arrangement, debt adjustment, receivership, liquidation or dissolution proceedings are instituted by or against the other Party and, if instituted adversely, the other Party consents to the same or admits in writing the material allegations thereof or such proceedings shall remain undismissed for 90 days.

 

  

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3.3                      The Parties acknowledge and agree that the rights and obligations of any Party that have accrued prior to the expiration of this Agreement or which are expressed to survive such expiration  shall not be affected by the expiration of this MOU.

PART 4

INTELLECTUAL PROPERTY

Except when agreed specifically in writing, BCSI and Genesys shall retain ownership and title of all their respective assests, intellectual property related to technologies, business know-how, trademarks, business contacts, access to government capital and loans for business development including future improvements and modifications.

PART 5

CONFIDENTIALITY

	
5.1

	
Each Party shall treat as confidential information this MOU, the subject matter hereof, and all other discussions, draft agreements, agreements, information, reports, data, test results, marketing, product and cost information, business opportunities, know-how, research and analyses related to the Parties’ Technologies, this MOU or the Agreement (collectively, the “Confidential Information”).  The standard of care to be used in protecting the Confidential Information hereunder shall be the same degree of care the Parties use to protect their own confidential information, but in any event, shall not be less than a reasonable degree of care practised by diligent and prudent persons in similar circumstances.

	
5.2

	
Confidential Information shall be used by the receiving Party only for purposes of the actions specifically contemplated by this MOU and shall be promptly returned to the disclosing Party on the written request of the disclosing Party. Each Party shall restrict the disclosure of Confidential Information to those of its employees and agents who have a need to know such information relative to this MOU and shall only disclose such Confidential Information to those persons who have agreed to receive, hold and use such information subject to the terms and restrictions of this MOU.

	
5.3

	
Notwithstanding the above, this section  imposes no obligation on the receiving Party with respect to information that:

	
  

	
(a)

	
is or becomes a matter of public knowledge through no fault of the receiving Party,

	
  

	
(b)

	
is rightfully received by the receiving Party from a third party without a duty of confidentiality,

	 	
(c) 

	
is required to be disclosed by law, or

	
  

	
(d)

	
is disclosed by the receiving Party with the disclosing Party's prior written consent.

 

  

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PART 6

COVENANTS, REPRESENTATIONS & WARRANTIES

6.1           Each Party represents and warrants that it has all corporate approvals and the independent right and power to enter into this MOU.

6.2           Except as expressly stated in this MOU neither Party makes any warranty, representation, condition, or covenant of any kind, express or implied, oral or written, statutory or otherwise, including but not limited to, the implied warranties, representations, conditions or covenants of merchantable quality or fitness for a particular purpose or warranties arising from a course of dealing or usage of trade.

PART 7

INDEMNITY

Each Party (the “Indemnitee”) agrees to defend, indemnify, and hold harmless the other Party (the “Indemnified Party”) and its respective directors, officers, employees and agents from and against any third party claims, together with costs and expenses, including reasonable attorneys' fees, arising out of or resulting from any actions or omissions on the part of the Indemnitee which constitute a breach of the terms hereof which are expressed to be binding.

PART 8

LIMITATION OF LIABILITY

Except with respect to obligations of confidentiality and restrictions on use set forth herein, neither Party will be liable for any indirect, special, incidental or consequential damages of any kind, including lost profits, lost revenues, lost business opportunities, failure to realize expected savings, or other commercial or economic losses of any kind arising out of, in connection with, or resulting from their performance under this Agreement, even if the other Party has been advised of the possibility of such damage.

PART 9

DISPUTE RESOLUTION

Except for applications for injunctions or restraining orders, any disputes arising out of or in connection with any binding provisions of this MOU or in respect of any defined legal relationship associated therewith or derived therefrom will be, insofar as lawfully possible, referred to and finally resolved or determined by arbitration in Ontario and each party shall be responsible for its own fees.

PART 10

NOTICES

10.1                     Any notice to be given by either Party to the other under this MOU will be in writing and may be delivered personally, by facsimile or by first class prepaid mail to the following addresses:

 

  

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If to BioCarbon Solutions International Inc:

123 March Street, Suite 202

Sault Ste Marie, Ontario  P6A 2Z5

Canada

Attention:         Luc C Duchesne

Facsimile:         705 253 9572

If to Genesys International Corporation Ltd

Prestige Terminus-II

HAL Airport Exit Road

Bangalore 560 017

India

Attention:         Col J Jacob

Facsimile:         +91 80 2522 9838

or to such other address as may be designated by written notice given by either Party to the other Party.

10.2                      Notices delivered in person or by facsimile will be effective on the date of such delivery. Notices issued by mail will be effective on the Fifteenth business day following the date that the envelope containing the notice is post-marked unless between the time of mailing and the time the notice is deemed effective there is an interruption in postal service, in which case, the notice will not be effective until actually received. In the event of a postal strike or lockout, notices or demands under this MOU must be delivered personally or by facsimile.

PART 11

GENERAL PROVISIONS

	
11.1

	
Partnership: Nothing in this MOU is intended to imply the existence of a partnership, joint venture, or agency relationship between the Parties.

	
11.2

	
Time of Essence: Time is of the essence with respect to this MOU and the performance of each obligation of each Party hereunder unless otherwise expressly stated.

	
11.3

	
Amendments: No modifications, waivers or amendments to this MOU shall be effective unless in writing and signed all Parties.

	
11.4

	
Assignment: Neither Party may assign or transfer this Agreement or any of its rights or obligations under this MOU, without the prior written consent of the other party.

	
11.5

	
Governing Law: This MOU will be governed by and interpreted exclusively in accordance with the laws of the Province of Ontario, Canada and the Parties hereby irrevocably attorn to the jurisdiction of the courts of the Province of Ontario for matters which are not properly the subject of Part 9.

 

  

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11.6

	
Costs: Each Party will be responsible for its own costs in relation to any activities covered by this MOU and the negotiation of the Commercial Agreements, unless otherwise indicated.

	
11.7

	
Further Assurances: Each Party will execute and deliver such further and other agreements, documents and instruments and do such further acts and things as are within its power and as may be necessary or desirable to fully implement and carry out the terms of this MOU that are expressed to be legally enforceable as and from the time of execution hereof.

	
11.8

	
Entire Agreement: This MOU supersedes any prior understandings, agreements or proposals (written or oral) between the Parties as to the subject matter of this MOU.

IN WITNESS WHEREOF, the Parties executed this MOU as of the date first above written.

BioCarbon Solutions International Inc

	
By:

	
Dr Luc C Duchesne

	  
	  	  	  
	
Signature:

	 
/s/ Luc C Duchesne 

	  
	  	  	  
	
Title:

	
President & CEO

	  

Genesys International Corporation Ltd

	
By:

	
Col J Jacob

	  

	
Signature:

	 
/s/ Col J Jacob  

	 
 

	  
	  	  	  
	
Title:

	
President, Mapping and Remote Sensing

	  

 

  

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Schedule 1

Outline of MOU for joint undertakings between Bio-Carbon Solutions International Inc.

(BCSI) and Genesys International Corporation (Genesys)

The following is an outline of key points of the MOU between the Parties.

 

BCSI and Genesys are engaging in negotiations for the purpose of developing four areas of joint activities:

 

A. Co-marketing efforts for the respective goods and services offered by each company.

 

B. Project specific joint ventures in carbon development, subject to mutually acceptable terms for licensing and/or royalties and/or profit sharing.

 

C. Subcontracting of Genesys’ outsourcing services for data interpretation of carbon offset projects developed by BCSI.

 

C. Joint research and development undertakings for the development of products and services for sale worldwide.

 

  

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