Document:

EXHIBIT 10.75

COMMERCIAL GUARANTY

Reference is made to that
certain Promissory Note dated as of March 31, 2006 (the “Note”)
made by Earth Biofuels, Inc., a Delaware corporation (“Maker”),
to the order of Southern Biofuels, LLC, a Mississippi limited liability company
(“Payee”), in the principal amount of
$1,100,000 (the “Principal Amount”).  Capitalized terms used but not otherwise
defined herein shall have the meanings prescribed to them in the Note.

THIS IS A “CONTINUING
GUARANTY” UNDER WHICH GUARANTEE THE FULL AND PUNCTUAL PAYMENT, PERFORMANCE AND
SATISFACTION OF ALL OF THE INDEBTEDNESS AND OBLIGATIONS INCURRED BY EARTH
BIOFUELS WITH RESPECT TO THE NOTE.

The undersigned hereby
guarantees the prompt payment of all amounts due under the Note.  The undersigned also guarantees the prompt
payment of any interest that may accrue on the Note.

The undersigned waives
any requirement of notice of default or of any of the other matters referred to
in this guaranty (this “Guaranty”),
any requirement of diligence on the part of Payee or any holder of the Note,
and all counterclaims, set-offs, abatements and defenses whatsoever against the
Payee or any holder of the Note.

This Guaranty is in no
way contingent upon any attempt to collect from the Maker or to enforce or proceed
against any security or collateral given to secure the Note.

The validity and
enforceability of this Guaranty shall be unaffected by any transfer, assignment
or endorsement of the Note, any indulgence or waiver granted with respect to
any payment due thereunder or any remedy provided for therein or in any
document referred to therein (including the release of any collateral) or any
other thing that might reduce or vary the risk of the Maker or operate as a
discharge of the Maker as a matter of law.

This Guaranty shall be
enforceable by any holder of the Note, and each such holder shall have the full
benefit of this Guaranty without notice to the undersigned upon or after
endorsement.

The undersigned agrees to
pay upon demand all of Payee’s costs and expenses, including Payee’s attorneys’
fees and Payee’s legal expenses, incurred in 

 

 

connection with the enforcement of this Guaranty. If
there is a lawsuit, Guarantor agrees upon Payee’s request to submit to the
jurisdiction of the courts of Rankin County, State of Mississippi.

This Guaranty constitutes
a guarantee of payment and collection.

This Guaranty shall not
terminate until all the obligations under the Note have been fully and
completely satisfied.

THIS GUARANTY SHALL BE
GOVERNED BY AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH THE LAWS OF THE
STATE OF MISSISSIPPI, WITHOUT REGARD TO THE CONFLICTS OF LAWS PRINCIPLES
THEREOF.

	
  Dated: March 31, 2006

  	
   

  	
  /s/ R. Bruce Blackwell

  
	
   

  	
   

  	
  R. Bruce BlackwellEXHIBIT
10.76

COMMERCIAL
GUARANTY

Reference is made to that
certain Promissory Note dated as of March 31, 2006 (the “Note”)
made by Earth Biofuels, Inc., a Delaware corporation (“Maker”),
to the order of Southern Biofuels, LLC, a Mississippi limited liability company
(“Payee”), in the principal amount of
$1,100,000 (the “Principal Amount”).  Capitalized terms used but not otherwise
defined herein shall have the meanings prescribed to them in the Note.

THIS IS A “CONTINUING
GUARANTY” UNDER WHICH GUARANTEE THE FULL AND PUNCTUAL PAYMENT, PERFORMANCE AND
SATISFACTION OF ALL OF THE INDEBTEDNESS AND OBLIGATIONS INCURRED BY EARTH
BIOFUELS WITH RESPECT TO THE NOTE.

The undersigned hereby
guarantees the prompt payment of all amounts due under the Note.  The undersigned also guarantees the prompt
payment of any interest that may accrue on the Note.

The undersigned waives
any requirement of notice of default or of any of the other matters referred to
in this guaranty (this “Guaranty”),
any requirement of diligence on the part of Payee or any holder of the Note,
and all counterclaims, set-offs, abatements and defenses whatsoever against the
Payee or any holder of the Note.

This Guaranty is in no
way contingent upon any attempt to collect from the Maker or to enforce or proceed
against any security or collateral given to secure the Note.

The validity and
enforceability of this Guaranty shall be unaffected by any transfer, assignment
or endorsement of the Note, any indulgence or waiver granted with respect to
any payment due thereunder or any remedy provided for therein or in any
document referred to therein (including the release of any collateral) or any
other thing that might reduce or vary the risk of the Maker or operate as a
discharge of the Maker as a matter of law.

This Guaranty shall be
enforceable by any holder of the Note, and each such holder shall have the full
benefit of this Guaranty without notice to the undersigned upon or after
endorsement.

The undersigned agrees to
pay upon demand all of Payee’s costs and expenses, including Payee’s attorneys’
fees and Payee’s legal expenses, incurred in 

 

 

connection with the enforcement of this Guaranty. If
there is a lawsuit, Guarantor agrees upon Payee’s request to submit to the
jurisdiction of the courts of Rankin County, State of Mississippi.

This Guaranty constitutes
a guarantee of payment and collection.

This Guaranty shall not
terminate until all the obligations under the Note have been fully and
completely satisfied.

THIS GUARANTY SHALL BE
GOVERNED BY AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH THE LAWS OF THE
STATE OF MISSISSIPPI, WITHOUT REGARD TO THE CONFLICTS OF LAWS PRINCIPLES
THEREOF.

	
  Dated: March 31, 2006

  	
  /s/ Tommy W. Johnson

  
	
   

  	
  Tommy W. JohnsonEXHIBIT 10.77

EARTH BIOFUELS, INC.

2006 STOCK OPTION AND AWARD PLAN

EARTH BIOFUELS,
INC., a Delaware corporation (the “Company”),
hereby adopts this 2006 Stock Option and Award Plan (the “Plan”),
effective as of the 15th day of April, 2006, under which options to acquire
stock of the Company or bonus stock may be granted from time to time to
employees, including officers and directors of the Company and/or its
subsidiaries. In addition, at the discretion of the board of directors or other
administrator of this Plan, options to acquire stock of the Company or bonus
stock may from time to time be granted under this Plan to other individuals who
contribute to the success of the Company or its subsidiaries but who are not
employees of the Company, all on the terms and conditions set forth herein.

1.             Purpose of the Plan. The
Plan is intended to aid the Company in maintaining and developing a management
team, attracting qualified officers and employees capable of assisting in the
future success of the Company, and rewarding those individuals who have
contributed to the success of the Company. It is designed to aid the Company in
retaining the services of executives and employees and in attracting new
personnel when needed for future operations and growth and to provide such
personnel with an incentive to remain employees of the Company, to use their
best efforts to promote the success of the Company’s business, and to provide
them with an opportunity to obtain or increase a proprietary interest in the
Company. It is also designed to permit the Company to reward those individuals
who are not employees of the Company but who are perceived by management as
having contributed to the success of the Company or who are important to the
continued business and operations of the Company. The above aims will be
effectuated through the granting of nonqualified options (“Options”)
to purchase shares of common stock of the Company, par value $0.001 per share
(the “Stock”), or the granting of awards
of bonus stock (“Stock Awards”),
all subject to the terms and conditions of this Plan. If the Company has a
class of securities registered under the Securities Exchange Act of 1934, as
amended (the “Exchange Act”), it is intended that Options or Stock Awards
granted pursuant to this Plan qualify for the exemption provided for in Rule
16b-3 (“Rule 16b-3”) promulgated under the
Exchange Act or any amendment or successor rule of like tenor when granted in
accordance with the provisions of such rule.

2.             Adoption. The Plan shall
become effective immediately on adoption by the board of directors of the
Company (the “Board”) and awards under the
Plan can be made at that time or at any subsequent time.

3.             Administration of the Plan.
Administration of the Plan shall be determined by the Board. Subject to
compliance with applicable provisions of governing law, the Board may delegate
administration of the Plan or specific administrative duties with respect to
the Plan, on such terms and to such committees of the Board as it deems proper.
Any Option or Stock Award approved by the Board shall be approved by a majority
vote of those members of the Board in attendance at a meeting at which a quorum
is present. Any Option or Stock Award approved by a committee designated by the
Board shall be approved as specified by the Board at the time of delegation.
The interpretation and construction of the terms of the Plan by the Board or a
duly authorized committee shall be final and binding on all participants in the
Plan absent a showing of demonstrable error. No member of the Board or duly
authorized committee shall be liable for any action taken or determination made
in good faith with respect to the Plan.

The Board’s or
duly authorized committee’s determination under the Plan (including without
limitation determinations of the persons to receive Options or Stock Awards,
the form, amount, and timing of such Options or Stock Awards, the terms and
provisions of such Options or Stock Awards, and the agreements evidencing same)
need not be uniform and may be made by the Board or duly authorized committee
selectively among persons who receive, or are eligible to receive, Options or
Stock Awards under the Plan, whether or not such persons are similarly
situated.

4.             Shares of Stock Subject to the
Plan.  A total of 5,000,000 shares of
Stock may be subject to, or issued pursuant to, Options or Stock Awards granted
under the terms of this Plan. Any shares subject to an Option or Stock Award
under the Plan, which Option or Stock Award for any reason expires or is
forfeited, terminated, or surrendered unexercised as to such shares, shall be
added back to the total number of shares reserved for issuance under the terms
of this Plan. If any right to acquire Stock granted under the Plan is exercised
by the delivery of shares

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of Stock or the
relinquishment of rights to shares of Stock, only the net shares of Stock
issued (the shares of Stock issued less the shares of Stock surrendered) shall
count against the total number of shares reserved for issuance under the terms
of this Plan.  The number of shares of
Stock subject to the Plan is subject to adjustment as set forth in Section 15
hereof.

5.             Reservation of Stock on Granting
of Option.  At the time of granting
any Option under the terms of this Plan, there will be reserved for issuance on
the exercise of the Option the number of shares of Stock of the Company subject
to such Option. The Company may reserve either authorized but unissued shares
or issued shares that have been reacquired by the Company.

6.             Eligibility. Options or
Stock Awards under the Plan may be granted to employees, including officers and
directors, of the Company or its subsidiaries, as may be existing from time to
time, and to other individuals who are not employees of the Company as may be
deemed in the best interest of the Company by the Board or a duly authorized
committee. Such Options or Stock Awards shall be in the amounts, and shall have
the rights and be subject to the restrictions, as may be determined by the
Board or a duly authorized committee at the time of grant, all as may be within
the general provisions of this Plan.

7.             Term of Options and Certain
Limitations on Right to Exercise.

(a)           Each
Option shall have the term established by the Board or duly authorized
committee at the time the Option is granted but in no event may an Option have
a term in excess of five years.

(b)           The
term of the Option, once it is granted, may be reduced only as provided for in
this Plan or under the written provisions of the Option.

(c)           Unless
otherwise specifically provided by the written provisions of the Option, no
holder or his or her legal representative, legatee, or distributee will be, or
shall be deemed to be, a holder of any shares subject to an Option unless and
until the holder exercises his or her right to acquire all or a portion of the
Stock subject to the Option and delivers the required consideration to the
Company in accordance with the terms of this Plan and the Option, and then only
to the extent of the number of shares of Stock acquired. Except as specifically
provided in this Plan or as otherwise specifically provided by the written
provisions of the Option, no adjustment to the exercise price or the number of
shares of Stock subject to the Option shall be made for dividends or other
rights for which the record date is prior to the date the Stock subject to the
Option is acquired by the holder.

(d)          
Options under the Plan shall vest and become exercisable at such time or times
and on such terms as the Board or a duly authorized committee may determine at
the time of the grant of the Option.

(e)           Options
granted under the Plan shall contain such other provisions, including, without
limitation, further restrictions on the vesting and exercise of the Option, as
the Board or a duly authorized committee shall deem advisable.

(f)            In
no event may an Option be exercised after the expiration of its term.

8.             Exercise Price. The exercise
price of each Option issued under the Plan shall be determined by the Board or
a duly authorized committee on the date of grant.

9.             Payment of Exercise Price.
The exercise of any Option shall be contingent on receipt by the Company of
cash, certified bank check to its order, or other consideration acceptable to
the Company; provided that, at
the discretion of the Board or a duly authorized committee, the written
provisions of the Option may provide that payment can be made in whole or in
part in shares of Stock of the Company that have been owned by the optionee for
more than six months or by the surrender of Options to acquire Stock from the Company
that have been held for more than six months, which Stock or Options shall be
valued at their then fair market value as determined by the Board or a duly
authorized committee. Any consideration approved by the Board or a duly
authorized committee that calls for the payment of the exercise price over a
period of more than one year shall provide for interest, which shall not be

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included as part of the
exercise price, that is equal to or exceeds the imputed interest provided for
in section 483 of the Code or any amendment or successor section of like tenor.

10.           Withholding. If the grant of a
Stock Award or the grant or exercise of an Option pursuant to this Plan, or any
other event in connection with any such grant or exercise, creates an
obligation to withhold income and employment taxes pursuant to the Code or
applicable state or local laws, such obligation may, at the discretion of the
Board or a duly authorized committee at the time of the grant of the Option or
Stock Award and to the extent permitted by the terms of the Option or Stock
Award and the then governing provisions of the Code and the Exchange Act, be
satisfied (i) by the holder of the Option or Stock Award delivering to the
Company an amount of cash equal to such withholding obligation; (ii) by the
Company withholding from any compensation or other amount owing to the holder
of the Option or Stock Award the amount (in cash, Stock, or other property as
the Company may determine) of the withholding obligation; (iii) by the Company
withholding shares of Stock subject to the Option or Stock Award with a fair
market value equal to such obligation; or (iv) by the holder of the Option or
Stock Award either delivering shares of Stock that have been owned by the
holder for more than six months or canceling Options or other rights to acquire
Stock from the Company that have been held for more than six months with a fair
market value equal to such requirements. In all events, delivery of shares of
Stock issuable on exercise of the Option or on grant of the Stock Award shall
be conditioned upon and subject to the satisfaction or making provision for the
satisfaction of the withholding obligation of the Company resulting from the
grant or exercise of the Option, grant of the Stock Award, or any other event.
The Company shall be further authorized to take such other action as may be
necessary, in the opinion of the Company, to satisfy all obligations for the
payment of such taxes.

11.           Awards to Directors and Officers.
To the extent the Company has a class of securities registered under the
Exchange Act, Options or Stock Awards granted under the Plan to directors and
officers (as used in Rule 16b-3 promulgated under the Exchange Act or any
amendment or successor rule of like tenor) intended to qualify for the
exemption from section 16(b) of the Exchange Act provided in Rule 16b-3 shall,
in addition to being subject to the other restrictions and limitations set
forth in this Plan, be made as follows:

(a)           A
transaction whereby there is a grant of an Option or Stock Award pursuant to
this Plan must satisfy one of the following:

(i)            The
transaction must be approved by the Board or a duly authorized committee
composed solely of two or more non-employee directors of the Company (as
defined in Rule 16b-3);

(ii)           The
transaction must be approved or ratified, in compliance with section 14 of the
Exchange Act, by either: the affirmative vote of the holders of a majority of
the securities of the Company present or represented and entitled to vote at a
meeting of the stockholders of the Company held in accordance with the
applicable laws of the state of incorporation of the Company; or, if allowed by
applicable state law, the written consent of the holders of a majority, or such
greater percentage as may be required by applicable laws of the state of
incorporation of the Company, of the securities of the Company entitled to
vote. If the transaction is ratified by the stockholders, such ratification
must occur no later than the date of the next annual meeting of stockholders; or

(iii)          The
Stock acquired must be held by the officer or director for a period of six
months subsequent to the date of the grant; provided
that, if the transaction involves a derivative security (as defined
in section 16 of the Exchange Act), this condition shall be satisfied if at
least six months elapse from the date of acquisition of the derivative security
to the date of disposition of the derivative security (other than on exercise
or conversion) or its underlying equity security.

(b)           Any
transaction involving the disposition to the Company of its securities in
connection with Options or Stock Awards granted pursuant to this Plan shall:

(i)            be
approved by the Board or a duly authorized committee composed solely of two or
more non-employee directors; or

(ii)           be
approved or ratified, in compliance with section 14 of the Exchange Act, by 

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either: the affirmative vote of the holders of a majority of the
securities of the Company present, or represented, and entitled to vote at a
meeting duly held in accordance with the applicable laws of the state of
incorporation of the Company or, if allowed by applicable state law, the
written consent of the holders of a majority, or such greater percentage as may
be required by applicable laws of the state of incorporation of the Company, of
the securities of the Company entitled to vote; provided that, such ratification occurs no later than the
date of the next annual meeting of stockholders.

All of the foregoing
restrictions and limitations are based on the governing provisions of the
Exchange Act and the rules and regulations promulgated thereunder as of the
date of adoption of this Plan. If at any time the governing provisions are
amended to permit an Option to be granted or exercised or Stock Award to be
granted pursuant to Rule 16b-3 or any amendment or successor rule of like tenor
without one or more of the foregoing restrictions or limitations, or the terms
of such restrictions or limitations are modified, the Board or a duly
authorized committee may award Options or Stock Awards to directors and
officers, and may modify outstanding Options or Stock Awards, in accordance
with such changes, all to the extent that such action by the Board or a duly
authorized committee does not disqualify the Options or Stock Awards from
exemption under the provisions of Rule 16b-3 or any amendment or successor rule
of similar tenor.

12.           Stock Awards. The Board or a
duly authorized committee may grant Stock Awards to individuals eligible to
participate in this Plan, in the amount, and subject to the provisions
determined by the Board or a duly authorized committee. The Board or a duly
authorized committee shall notify in writing each person selected to receive a
Stock Award hereunder as soon as practicable after he or she has been so selected
and shall inform such person of the number of shares he or she is entitled to
receive, the approximate date on which such shares will be issued, and the
Forfeiture Restrictions applicable to such shares. (For purposes hereof, the
term “Forfeiture Restrictions” shall mean any prohibitions against sale or
other transfer of shares of Stock granted under the Plan and the obligation of
the holder to forfeit his or her ownership of or right to such shares and to
surrender such shares to the Company on the occurrence of certain conditions.)
The Board or a duly authorized committee may, at its discretion, require the
payment in cash to the Company by the award recipient of the par value of the
Stock. The shares of Stock issued pursuant to a Stock Award shall not be sold,
exchanged, transferred, pledged, hypothecated, or otherwise disposed of during
such period or periods of time which the Board or a duly authorized committee
shall establish at the time of the grant of the Stock Award. If a Stock Award
is made to an employee of the Company or its subsidiaries, the employee shall
be obligated for no consideration other than the amount, if any, of the par
value paid in cash for such shares, to forfeit and surrender such shares as he
or shall have received under the Plan which are then subject to Forfeiture
Restrictions to the Company if he or she is no longer an employee of the
Company or its subsidiaries for any reason; provided
that, in the event of termination of the employee’s employment by
reason of death or total and permanent disability, the Board or duly authorized
committee, in its sole discretion, may cancel the Forfeiture Restrictions.
Certificates representing shares subject to Forfeiture Restrictions shall be
appropriately legended as determined by the Board or a duly authorized
committee to reflect the Forfeiture Restrictions, and the Forfeiture
Restrictions shall be binding on any transferee of the shares.

13.           Assignment. At the time of
grant of an Option or Stock Award, the Board or duly authorized Committee, in
its sole discretion, may impose restrictions on the transferability of such
Option or Stock Award and provide that such Option shall not be transferable
other than by will or the laws of descent and distribution or pursuant to a
qualified domestic relations order as defined in the Code and that, except as
permitted by the foregoing, such Options or Stock Awards granted under the Plan
and the rights and privileges thereby conferred shall not be transferred,
assigned, pledged, or hypothecated in any way (whether by operation of law or
otherwise), and shall not be subject to execution, attachment, or similar
process. On any attempt to transfer, assign, pledge, hypothecate, or otherwise
dispose of the Option or Stock Award, or of any right or privilege conferred
thereby, contrary to the provisions thereof, or on the levy of any attachment
or similar process on such rights and privileges, the Option or Stock Award and
such rights and privileges shall immediately become null and void.

14.           Additional Terms and Provisions of
Awards. The Board or duly authorized committee shall have the right to
impose additional limitations on individual awards under the Plan. For example,
and without limiting the authority of the Board or a duly authorized committee,
an individual award may be conditioned on continued employment for a specified
period or may be voided based on the award holder’s gross negligence in the
performance of his or her duties, substantial failure to meet written standards
established by the Company for the performance of

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his or her duties,
criminal misconduct, or willful or gross misconduct in the performance of his
or her duties. In addition, the Board or a duly authorized committee may
establish additional rights in the holders of individual awards at the time of
grant. For example, and without limiting the authority of the Board or a duly
authorized committee, an individual award may include the right to immediate
payment of the value inherent in the award on the occurrence of certain events
such as a change in control of the Company, all on the terms and conditions set
forth in the award at the time of grant. The Board or a duly authorized
committee may. at the time of the grant of the Option or Stock Award, establish
any other terms, restrictions, or provisions on the exercise of an Option or
the holding of Stock subject to the Stock Award as it deems appropriate. All
such terms, restrictions, and provisions must be set forth in writing at the
time of grant in order to be effective.

15.           Dilution or Other Adjustment.
In the event that the number of shares of Stock of the Company from time to
time issued and outstanding is increased pursuant to a stock split or a stock
dividend, the number of shares of Stock then covered by each outstanding Option
granted hereunder shall be increased proportionately, with no increase in the
total purchase price of the shares then so covered, and the number of shares of
Stock subject to the Plan shall be increased by the same proportion. Shares
awarded under the terms of a Stock Award shall be entitled to the same rights
as other issued and outstanding shares of Stock, whether or not then subject to
Forfeiture Restrictions, although any additional shares of Stock issued to the
holder of a Stock Award shall be subject to the same Forfeiture Restrictions as
the Stock Award. In the event that the number of shares of Stock of the Company
from time to time issued and outstanding is reduced by a combination or
consolidation of shares, the number of shares of Stock then covered by each
outstanding Option granted hereunder shall be reduced proportionately, with no
reduction in the total purchase price of the shares then so covered, and the
number of shares of Stock subject to the Plan shall be reduced by the same
proportion. Shares awarded under a Stock Award shall be treated as other issued
and outstanding shares of Stock, whether or not then subject to Forfeiture
Restrictions. In the event that the Company should transfer assets to another
corporation and distribute the stock of such other corporation without the
surrender of Stock of the Company, and if such distribution is not taxable as a
dividend and no gain or loss is recognized by reason of section 355 of the Code
or any amendment or successor statute of like tenor, then the total purchase
price of the Stock then covered by each outstanding Option shall be reduced by
an amount that bears the same ratio to the total purchase price then in effect
as the market value of the stock distributed in respect of a share of the Stock
of the Company, immediately following the distribution, bears to the aggregate
of the market value at such time of a share of the Stock of the Company plus
the stock distributed in respect thereof. Shares issued under a Stock Award
shall be treated as issued and outstanding whether or not subject to Forfeiture
Restrictions, although any stock of the other corporation to be distributed
with respect to the shares awarded under the Stock Award shall be subject to
the Forfeiture Restrictions then applicable to such shares and may be held by
the Company or otherwise subject to restrictions on transfer until the
expiration of the Forfeiture Restrictions. In the event that the Company
distributes the stock of a subsidiary to its stockholders, makes a distribution
of a major portion of its assets, or otherwise distributes a significant
portion of the value of its issued and outstanding Stock to its stockholders,
the number of shares then subject to each outstanding Option and the Plan, or
the exercise price of each outstanding Option, may be adjusted in the
reasonable discretion of the Board or a duly authorized committee. Shares
awarded under a Stock Award shall be treated as issued and outstanding, whether
or not subject to Forfeiture Restrictions, although any Stock, assets, or other
rights distributed shall be subject to the Forfeiture Restrictions governing
the shares awarded under the Stock Award and, at the discretion of the Board or
a duly authorized committee, may be held by the Company or otherwise subject to
restrictions on transfer by the Company until the expiration of such Forfeiture
Restrictions. All such adjustments shall be made by the Board or duly
authorized committee, whose determination upon the same, absent demonstrable
error, shall be final and binding on all participants under the Plan. No
fractional shares shall be issued, and any fractional shares resulting from the
computations pursuant to this section shall be eliminated from the respective
Option or Stock Award. No adjustment shall be made for cash dividends, for the
issuance of additional shares of Stock for consideration approved by the Board,
or for the issuance to stockholders of rights to subscribe for additional Stock
or other securities.

16.           Options or Stock Awards to Foreign
Nationals. The Board or a duly authorized committee may, in order to
fulfill the purposes of this Plan and without amending the Plan, grant Options
or Stock Awards to foreign nationals or individuals residing in foreign
countries that contain provisions, restrictions, and limitations different from
those set forth in this Plan and the Options or Stock Awards made to United
States residents in order to recognize differences among the countries in law,
tax policy, and custom. Such grants shall be made in an attempt to provide such
individuals with essentially the same benefits as contemplated by a grant to
United States residents under the terms of this Plan.

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17.           Listing and Registration of Shares.
Unless otherwise expressly provided on the granting of an award under this
Plan, the Company shall have no obligation to register any securities issued
pursuant to this Plan or issuable on the exercise of Options granted hereunder.
Each award shall be subject to the requirement that if at any time the Board or
a duly authorized committee shall determine, in its sole discretion, that it is
necessary or desirable to list, register, or qualify the shares covered thereby
on any securities exchange or under any state or federal law, or obtain the
consent or approval of any governmental agency or regulatory body as a
condition of, or in connection with, the granting of such award or the issuance
or purchase of shares thereunder, such award may not be made or exercised in
whole or in part unless and until such listing, registration, consent, or
approval shall have been effected or obtained free of any conditions not
acceptable to the Board or a duly authorized committee.

18.           Expiration and Termination of the
Plan. The Plan may be abandoned or terminated at any time by the Board or a
duly authorized committee except with respect to any Options or Stock Awards
then outstanding under the Plan. The Plan shall otherwise terminate on the
earlier of the date that is: (i) ten years after the date the Plan is adopted
by the Board; or (ii) ten years after the date the Plan is approved by the
stockholders of the Company.

19.           Form of Awards. Awards granted
under the Plan shall be represented by a written agreement which shall be
executed by the Company and which shall contain such terms and conditions as
may be determined by the Board or a duly authorized committee and permitted
under the terms of this Plan.

20.           No Right of Employment.
Nothing contained in this Plan or any Option or Stock Award shall be construed
as conferring on a director, officer, or employee any right to continue or
remain as a director, officer, or employee of the Company or its subsidiaries.

21.           Leaves of Absence. The Board
or duly authorized committee shall be entitled to make such rules, regulations,
and determinations as the Board or duly authorized committee deems appropriate
under the Plan in respect of any leave of absence taken by the recipient of any
Option or Stock Award. Without limiting the generality of the foregoing, the
Board or duly authorized committee shall be entitled to determine (a) whether
or not any such leave of absence shall constitute a termination of employment
within the meaning of the Plan, and (b) the impact, if any, of any such leave
of absence on any Option or Stock Award under the Plan theretofore made to any
recipient who takes such leave of absence.

22.           Amendment of the Plan. The
Board or a duly authorized committee may modify and amend the Plan in any
respect.  Subject to the foregoing and,
if the Company is subject to the provisions of 16(b) of the Exchange Act, the
limitations of Rule 16b-3 promulgated under the Exchange Act or any amendment
or successor rule of like tenor, the Plan shall be deemed to be automatically
amended as is necessary to maintain the awards made under the Plan in compliance
with the provisions of Rule 16b-3 promulgated under the Exchange Act or any
amendment or successor rule of like tenor.

	
  DATE: April 15, 2006

  	
   

  	
  ATTEST:

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
   

  	
  /s/ Christopher Chambers

  
	
   

  	
   

  	
   

  	
   

  	
  Christopher Chambers, Secretary

  
	
   

  	
   

  	
   

  	
   

  	
   

  

 

 6

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00113-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00113-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00113-of-00352.parquet"}]]