Document:

Separation Agreement of John M. Westfield

 Exhibit 10.3 
 ADAPTEC CONFIDENTIAL 

 

 

 November 17, 2009 
 John Westfield 
 [Address] 
 Dear John, 
 After careful consideration of our future business, we need to make some difficult business decisions, one of which
impacts your position. We regret to notify you that your position will be eliminated. Your last work date (separation date) and termination date will be December 4, 2009. Your final paycheck will include payout of your accrued vacation
balance. Your current health and dental benefits end on December 31, 2009. 
 We find these circumstances unfortunate and wish to offer you
severance benefits (outlined below) to assist you in pursuing other opportunities outside of Adaptec. The Severance Plan Summary information may be found on the Adaptec Intranet HR site under Benefits. (Link:
http://www.corp.adaptec.com/sites/hr/benefits/spds/index.htm.) 
 Please sign and return the Separation Agreement and General Release below
along with the exit paperwork to Adaptec Human Resources in the enclosed envelope no later than December 9, 2009. 
 SEPARATION AGREEMENT AND GENERAL RELEASE 
  

	1.	Adaptec’s Consideration for Agreement: In exchange for the release and agreements described herein, Adaptec agrees as follows: 

  

	 	a)	On the eighth day following the date Adaptec receives a signed Agreement, and provided that you have returned all Adaptec property, equipment, and assets, to the
Company, your severance payment will be processed in a one time lump sum payment equal to 6 months and 1 week of your base pay, less legally mandated payroll deductions and withholdings. This payment is being given as consideration for this
Agreement and is not otherwise due. 

  

	 	b)	You also acknowledge that Adaptec stock option grants that have vested as of the termination date must be exercised within three (3) months of termination.
However, stock options granted from plans assumed through acquisitions may vary. 

  

	 	c)	Beginning on January 1, 2010, you shall be entitled to continuation of your Adaptec health, vision, dental, and Employee Assistance Program (EAP) benefits pursuant
to the Consolidated Omnibus Budget and Reconciliation Act (“COBRA”). You must submit completed COBRA Qualifying Event Notification enrollment forms directly to Benefit Concepts, Inc. for coverage. Adaptec agrees to pay the premiums for
those COBRA benefits through and until July 31, 2010. Effective August 1, 2010, you will be responsible for your COBRA cost. The COBRA enrollment packet and the information you will receive from Benefit Concepts will explain the
important details regarding the enrollment process. 

  

	 	d)	You have until two months from your termination date to sign up for your career search program with Right Management Consultants. (pamphlet in folder)

 ADAPTEC CONFIDENTIAL 
  

	2.	Your Consideration for Agreement: In consideration for the payments and undertakings described above, you individually and on behalf of your representatives,
successors, and assigns, do hereby completely release and forever discharge Adaptec, its shareholders, employees, owners, officers and directors, Board Members, and all other representatives, agents, entities, subsidiaries, divisions, directors,
attorneys, successors, and assigns from all claims, rights, demands, actions, obligations, and causes of action of any and every kind, nature and character, known or unknown, which you may now have, or have ever had, against them arising from or in
any way connected with the employment relationship between the parties, any actions during the relationship or the termination thereof. This Release covers all statutory, common law, constitutional and other claims, including but not limited to: all
“wrongful discharge” and “constructive discharge” claims; all claims relating to any contracts of employment, express or implied; any claims for defamation, misrepresentation, fraud, or breach of the covenant of good faith and
fair dealing, express or implied; any claim for negligent or intentional infliction of emotional distress; any claim for negligence; any claims for attorney’s fees or costs; any tort claims of any nature; any claims under federal, state or
municipal statute or ordinance; any claims under the California Fair Employment and Housing Act, Title VII of the Civil Rights Act of 1964, the Civil Rights Act of 1991, 42 U.S.C. Section 1981, the Age Discrimination in Employment Act, the
Older Workers’ Benefit Protection Act, the Americans With Disabilities Act, the Employee Retirement Income Security Act, the California Labor and Civil Codes, the California Constitution, Federal Rehabilitation Act of 1973, Federal Family and
Medical Leave Act, the California Family Rights Act, the Worker Adjustment and Retraining Notification Act (WARN), CalWARN, and any other laws and regulations relating to employment, employment discrimination, and employment termination. This
release is not intended to and does not include a release of any claims which, by law, cannot be released. 

  

	3.	Wavier of Unknown Future Claims: You have read Section 1542 of the Civil Code of the State of California, which provides as follows: 

 A general release does not extend to claims with the creditor does not know or suspect to exist in his favor at the time of executing the
release, which if known by him must have materially affected his settlement with the debtor. 
 You acknowledge that
Section 1542 gives you the right not to release existing claims, of which you are not now aware, unless you voluntarily choose to waive this right. Having been so apprised, you hereby voluntarily waive the rights described in Section 1542,
and elect to assume all risks for claims that now exist in your favor known or unknown, arising from the subject matter of this Agreement. 
  

	4.	No Admission of Liability: This agreement is not and shall not be construed or contended by you to be an admission or evidence of any wrongdoing or liability on
the part of Releases, their representatives, heirs, executors, attorneys, agents, partners, officers, shareholders, directors, employees, subsidiaries, affiliates, divisions, successors or assigns. This agreement shall be afforded the maximum
protection allowable under California Evidence Code Section 1152 and/or any other state or federal provisions of similar effect. 

  

	5.	Confidentiality of Agreement: You agree that the existence, terms and conditions of this Agreement, including any and all references to any alleged underlying claims,
are strictly confidential. You shall not disclose, discuss or reveal the existence or the terms of this Agreement to any persons outside of Adaptec, entities or organizations except to your spouse, attorney, financial advisor, or as required by
court order. 

  

	6.	Savings Clause: Should any of the provisions of this Agreement be determined to be invalid by a court or government agency of competent jurisdiction, it is agreed that
such determination shall not affect the enforceability of the other provisions herein. California law shall govern the validity and interpretation of this Agreement. 

  

	7.	Preparation of Agreement: Regardless of which party initially drafted this Agreement, it shall not be construed against any one party, and shall be construed and
enforced as a mutually prepared Agreement. 

  

	8.	Mandatory Arbitration Clause: You and Adaptec agree that any action to enforce the terms and conditions of this Agreement or for the breach of this Agreement, shall be
referred to final and binding arbitration. Any arbitration proceeding will be governed by the rules and procedures of the American Arbitration 

 ADAPTEC CONFIDENTIAL 
 Association and the Federal Arbitration Act and the parties hereto expressly waive their rights, if any, to have any such matters heard by a
court or jury, or administrative agency whether federal or state. The prevailing party in any arbitration to enforce this Agreement or remedy its breach will be entitled to costs and reasonable attorney’s fees incurred. 
  

	9.	Complete and Voluntary Agreement: This Agreement constitutes the entire understanding of the parties on the subjects covered. You expressly warrant that you have read
and fully understand this Agreement; that you have had the opportunity to seek legal counsel of your own choosing and to have the terms of the Agreement fully explained to you that you are not executing this Agreement in reliance on any promises,
representations or inducements other than those contained herein; and that you are executing this Release voluntarily, free of any duress or coercion. In addition, by signing this Agreement, you are confirming the following:

  

	 	(a)	You have been provided until December 9, 2009 in which to consider whether or not to sign this Agreement, and that, having been advised of that entitlement; you
may elect to sign this Agreement at any time prior to or on that date. 

  

	 	(b)	You may revoke your acceptance of this Agreement within seven (7) calendar days of signing it with respect to claims arising under the Age Discrimination in
Employment Act (“ADEA Rescission Period”). To be effective, rescission must be in writing, delivered to Shirley Olerich, Adaptec Inc., 691 South Milpitas Blvd, M/S 15, Milpitas, CA 95035, within the ADEA Rescission Period, or sent to
Adaptec, at such address, by certified mail, return receipt requested, postmarked within the ADEA Rescission Period and also by facsimile to Attention: Shirley Olerich, FAX# (408) 262-2533, before the close of the ADEA Rescission Period.

  

	 	(c)	The consideration provided to you in this Agreement is in addition to any consideration that you would otherwise be entitled to receive; and 

 

	 	(d)	You may submit any inquiries regarding the severance plan within one year of your separation from service, in writing, delivered to the Severance Plan Administrator,
691 South Milpitas Blvd, M/S 15, Milpitas, CA 95035 by certified mail, return receipt requested, and postmarked within the applicable period. 

 Effective Date: This agreement is effective on the eighth (8th) day after you sign it and without revocation by you. 
 If you choose to accept the terms of this Agreement, please sign on the line provided below and return the original in the enclosed self addressed envelope. 
 Sincerely, 
  

	
	 /s/    SUNDI SUNDARESH

	Sundi Sundaresh
	Chief Executive Officer

 I have read and understand the
Agreement above and agree to be bound by its terms and conditions. 
 Agreed: 
  

											
	Dated:	  	11/17/09	  	BY:	  	 John M. Westfield
	  		  	 /s/    JOHN M. WESTFIELD

		  		  		  	Print	  		  	(Signature)ICP Solar Technologies Inc.: Exhibit 10.1- Prepared by TNT Filings Inc.

Exhibit 10.1

STOCK PURCHASE AGREEMENT 

This STOCK PURCHASE AGREEMENT (the “Agreement”), is made as of
this 28th day of January, 2010, by and among EPOD Solar Inc., a corporation
organized under the laws of the province of British Columbia, Canada (“EPOD”),
EPOD Industries Inc., a corporation organized under the laws of British Columbia
(“EPOD Industries”), (collectively the “Sellers”), and ICP Solar Technologies
Inc., a Nevada corporation (“ICP” or the “Buyer”) (each party to this Agreement
individually referred to as the “Party” and collectively referred to as the
“Parties”).

W I T N E S S E T H : 

WHEREAS, EPOD Industries is a wholly-owned subsidiary of EPOD;

WHEREAS, Great Lakes Solar Utilities Inc., a corporation
organized under the laws of the province of Ontario, Canada (“Great Lakes”) is a
wholly-owned subsidiary of EPOD Industries;

WHEREAS Optisolar Technologies Inc. a corporation duly formed
under the laws of the State of Delaware, (“Optisolar”) is a wholly-owned
subsidiary of EPOD; 

WHEREAS EPOD entered into a letter agreement (“Peterborough
Letter Agreement”) with Peterborough Utilities Inc. (“Peterborough”) dated
November 9, 2009 and amended on December 31, 2009, whereby EPOD shall provide to
Peterborough solar electrical power generation equipment, infrastructure and
services for the construction of three solar farms, upon terms and conditions to
be finalized in a formal agreement, as defined in the Peterborough Letter
Agreement (“Formal Agreement”) between the parties; 

WHEREAS EPOD entered into a Partnership Agreement Term Sheet
(“Northland Term Sheet”) with Northland Power Inc. (“Northland”) dated November
26, 2009, whereby the parties intend to enter into a partnership agreement, as
defined in the Northland Term Sheet (“Partnership Agreement”) for the
development of EPOD solar park projects; 

WHEREAS, Sellers are engaged in the development, sale,
marketing and support of solar energy products for commercial and industrial
applications; and 

WHEREAS, Buyer wishes to purchase or acquire the following from
EPOD, and EPOD Industries, as applicable: (i) all of the issued and outstanding
shares of capital stock of Optisolar, all held by EPOD, and (ii) all of the
issued and outstanding shares of capital stock of Great Lakes, all held by EPOD
Industries, (each of Optisolar and Great Lakes, referred to as a “Seller
Subsidiary”), all for the consideration and upon the terms and subject to the
conditions hereinafter set forth. 

NOW, THEREFORE, the Parties hereto, in consideration of the
mutual promises and other consideration set forth below, the receipt and
adequacy of which is hereby acknowledged, and intending to be legally bound
hereby, do represent, warrant, covenant and agree as follows: 

SECTION 1 

DEFINITIONS  

1.01. “Affiliate” means, as
applied to any Person, any other Person directly or indirectly controlling,
controlled by, or under common control with that Person. For the purposes of
this definition, “control” (including with correlative meanings, the terms
“controlling”, “controlled by” and “under common control with”) as applied to
any Person, means the possession, directly or indirectly, of the power to direct
or cause the direction of the management and policies of that Person, whether
through ownership of voting securities or by contract or otherwise. 

1.02. “Authorized Share Capital
Increase” shall mean the increase in authorized share capital of the
Buyer’s shares of common stock to 800,000,000 shares of common stock, which the
Buyer shall undertake as a condition to Closing.

1.03. “Buyer Indemnified Parties”
shall have the meaning set forth in Section 7.02(a) . 

1.04. “Claim” shall mean any
and all administrative or judicial actions, suits, arbitrations, orders, claims,
Liens, notices, notices of violations, investigations, complaints, requests for
information, proceedings, or other communication (written or oral), whether
criminal or civil. 

1.05. “Closing” and “Closing
Date” shall have the respective meanings assigned to them in Section 5.01
hereof. 

1.06. “Environmental Law”
means all federal, state, local and foreign environmental, health and safety
Laws, common law orders, decrees, judgments, codes and ordinances and all rules
and regulations promulgated thereunder, civil or criminal, including, without
limitation, Laws relating to emissions, discharges, releases or threatened
releases of Hazardous Material, pollutants, contaminants, chemicals, or
industrial, toxic or hazardous substances or wastes into the environment or
otherwise relating to the manufacture, processing, distribution, use, treatment,
storage, disposal, transport or handling of Hazardous Material, pollutants,
contaminants, chemicals, or industrial, solid, toxic or hazardous substances or
wastes. 

1.07. “ FINRA” shall mean the
Financial Industry Regulatory Authority, Inc. 

1.08. “Governmental or Regulatory
Authority” means any court, tribunal, arbitrator, authority, agency,
commission, official or other instrumentality of the United States and Canada,
any foreign country or any domestic or foreign state, county, city or other
political subdivision, and shall include, without limitation, the Securities and
Exchange Commission, and the various federal, state and foreign securities
regulators and taxation authorities. 

1.09. “Great Lakes” shall
include all of the subsidiaries and solar parks held directly or indirectly by
Great Lakes, as set forth in Schedule A herein; 

1.10. “Hazardous Material”
means (i) any petroleum or petroleum products, radioactive materials, asbestos
in any form that is or could become friable, urea formaldehyde foam insulation
and transformers or other equipment that contain dielectric fluid containing
levels of polychlorinated biphenyls (PCBs); (ii) any chemicals, materials,
substances or wastes which are now defined as or included in the definition of
“hazardous substances”, “hazardous wastes,” “hazardous materials,” “extremely
hazardous wastes,” “restricted hazardous wastes,” “toxic substances,” “toxic
pollutants” or words of similar import, under any Environmental Law; and (iii)
any other chemical, material, substance or waste, exposure to which is now
prohibited, limited or regulated by any Governmental or Regulatory Authority.

1 

1.11.  “Indebtedness” of any Person means all
obligations of such Person (i) for borrowed money, (ii) evidenced by notes,
bonds, debentures or similar instruments, (iii) for the deferred purchase price
of goods or services (other than trade payables or accruals incurred in the
ordinary course of the Business), (iv) under capital leases and (v) in the
nature of guarantees of the obligations described in clauses (i) through (iv)
above of any other Person. 

1.12.  “Indemnified Party” shall have the
meaning set forth in Section 7.02(c) . 

1.13.  “Indemnifying Party” shall have the
meaning set forth in Section 7.02(c) . 

1.14.  “Knowledge” means the actual knowledge of
a Person with respect to any fact, event or condition, as well as the knowledge
that such party reasonably would be expected to have acquired in the ordinary
course of business and the prudent management of its own affairs. Such
definition shall include any form of such term, such as knows, known, etc.,
whether or not capitalized, as used in this Agreement with respect to a party’s
awareness of the presence or absence of a fact, event or condition.

1.15.  “Laws” means all laws, statutes, rules,
regulations, ordinances and other pronouncements having the effect of law in
Canada, the United States, any foreign country or any domestic or foreign state,
province, county, city or other political subdivision or of any Governmental or
Regulatory Authority. 

1.16.  “Liability” or “Liabilities” means all
Indebtedness, obligations and other liabilities (or contingencies that have not
yet become liabilities) of a Person (whether absolute, accrued, contingent (or
based upon any contingency), fixed or otherwise, or whether due or to become
due). 

1.17.  “License” means any license, permit,
certificate of authority, authorization, approvals, registration, franchise and
similar consent granted or issued by any Governmental or Regulatory Authority. 

1.18.  “Liens” means claims, pledges, security
interests, mortgages, conditional sales agreement, liens, charges, restrictions,
consignments or conditional sales agreements, or other encumbrances of whatever
nature, whether created by statute, Contract, process of law or otherwise, and
whether or not recorded or otherwise perfected. 

1.19.  “Loss” means any and all damages, fines,
fees, penalties, deficiencies, diminution in value of investment, losses and
expenses, including without limitation, interest, reasonable expenses of
investigation, court costs, reasonable fees and expenses of attorneys,
accountants and other experts or other expenses of litigation or other
proceedings or of any claim, default or assessment (such fees and expenses to
include without limitation, all fees and expenses, including, without
limitation, fees and expenses of attorneys, when and as incurred in connection
with (i) the investigation or defense of any Third Party Claims, or (ii)
asserting or disputing any rights under this Agreement against any Party hereto
or otherwise).

2 

1.20.  “Material Adverse Effect” means any change or
effect of any event or circumstance which, individually or when taken together
with all other changes, effects, events or circumstances, is or could reasonably
be expected to be, materially adverse to the assets, financial condition,
business or results of operation of a Person; excluding, however, any adverse
effect due to changes, after the date of this Agreement, in conditions affecting
the economy generally or the general market addressed by such Person’s products
and/or services. 

1.21.  “Person” means any natural person, corporation,
general or limited partnership, limited liability company or partnership,
proprietorship, other business organization, estate, trust, union, association
or Governmental or Regulatory Authority. 

1.22.  “Purchase Price” shall have the meaning set forth
in Section 4.01. 

1.23.  “Reverse Stock Split” shall mean the 20:1 reverse
stock split, of ICP’s Common Stock, (as defined in Section 4.01) which ICP shall
undertake 

1.24.  “Seller Indemnified Parties” shall have the
meaning set forth in Section 7.02(b) . 

1.25.  “Tax” or “Taxes” means any and all federal,
state, local or foreign taxes, fees, levies, duties, tariffs, imposts and other
governmental charges of any nature (together with any interest, penalties and
additions to tax) including, without limitation, taxes or other charges on, or
with respect to, income, gross receipts, property, sales, use, capital or net
worth. 

1.26.  “Tax Return” means any return, report or statement
(including any information return) required to be filed for purposes of a
particular Tax. 

1.27.  “Third Party” shall mean any Person who is not a
party to this Agreement, nor is an Affiliate of any Party to this Agreement.

1.28.  “Third Party Claim” shall mean a Claim asserted by
a Third Party. 

SECTION 2 

PURCHASE OF STOCK OF OPTISOLAR AND GREAT LAKES 

Section 2.01. Purchase of Shares of Optisolar and Great
Lakes. At the Closing, each of EPOD,and EPOD Industries, respectively, will
sell, convey, transfer and deliver to Buyer, and Buyer will purchase from EPOD,
for the consideration hereinafter set forth, 200 common shares of Optisolar held
by EPOD and 100 common shares of Great Lakes held by EPOD Industries as of the
Closing Date, which represents all of the issued and outstanding shares of
capital stock of Optisolar and Great Lakes (collectively, the “EPOD Shares”).
All EPOD Shares shall be transferred or otherwise conveyed by EPOD to Buyer free
and clear of all Liabilities, obligations, Liens, Claims (including Third Party
Claims). 

SECTION 3 

AGREEMENTS WITH PETERBOROUGH AND NORTHLAND 

Section 3.01. Agreement with Peterborough. EPOD
undertakes to introduce ICP to Peterborough and to use its best efforts to
assist ICP in negotiations with Peterborough so as to facilitate the execution of a Formal Agreement between ICP and
Peterborough on the same or similar terms to those outlined in the Peterborough
Letter Agreement.

3 

Section 3.02. Agreement with Northland. EPOD undertakes
to introduce ICP to Northland and to use its best efforts to assist ICP in
negotiations with Northland so as to facilitate the execution of a Partnership
Agreement between ICP and Northland on the same or similar terms to those
outlined in the Northland Term Sheet.

SECTION 4 

PURCHASE PRICE 

4.01. Amount and Payment of the Purchase Price. In
consideration for the EPOD Shares, Buyer shall issue to EPOD an aggregate amount
equal to 450,000,000 shares (four hundred and fifty million) validly issued,
fully paid and non-assessable new shares of common stock, $0.00001 par value per
share (the “Common Stock”), of the Buyer (the “Purchase Price”) on the Closing
Date. Should the Buyer undergo the Reverse Stock Split concomitantly with the
Closing, Buyer shall issue to EPOD the aggregate amount of 22,500,000
(twenty-two million five hundred thousand) validly issued, fully paid and
non-assessable new shares of common stock, immediately following the effective
date of the Reverse Stock Split. 

4.01a. This entire Agreement and the Purchase Price herein are
conditional upon the Buyer obtaining FINRA and all other requisite approvals to
effect the Authorized Share Capital Increase and in any event, the Closing shall
not take place until the Authorized Share Capital Increase becomes effective.

4.02. Allocation of Purchase Price. The Parties agree to
allocate the Purchase Price in a manner which causes the least Liabilities for
Taxes under applicable Law, and will collectively execute, prepare, file (or
cause to have prepared and filed) all applicable forms, notices and filings as
are required by applicable Law.

4.03. Employees. The employees of each of Optisolar and
Great Lakes shall remain employed by such Selling Subsidiary following the
Closing Date, upon such terms and conditions as are in effect immediately prior
to the Closing Date. Sellers hereby jointly authorize Buyer to offer employment
to their respective employees, waive any rights they may have prohibiting such
employees from being employed by Buyer, and shall not offer employment to any
employees who have accepted employment with Buyer. Nothing in this Section 4.03
shall be deemed to be a contract for the benefit of any employee. Sellers shall
use their respective best efforts to assist Buyer in obtaining the services of
all current employees of a Seller that Buyer wishes to so retain. 

4 

SECTION 5 

CLOSING 

5.01. Closing. The closing of the purchase and sale of
the EPOD Shares (the “Closing”) shall be held at the offices of the Buyer
or remotely via the exchange of documents and signatures or at such other time
and place as the Parties mutually may agree, on the first day in which the
conditions set forth in this Section 5 have been satisfied or waived, but in any
event no later than 120 (one hundred and twenty days from the signing of this
Agreement, unless mutually extended in writing by the Parties (the “Closing
Date”).

5.02. Deliveries of Sellers. Each Seller, as applicable,
shall deliver or cause to be delivered to Buyer at the Closing: 

(a) A certified copy of resolutions, duly adopted by the Boards
of Directors and stockholders of each Seller, authorizing the transactions
contemplated hereby. 

(b) Such certificates issued by the appropriate Governmental or
Regulatory Authority as required to evidence the legal existence and good
standing of such Seller. 

(c) EPOD shall deliver or cause to be delivered to Buyer the
following with respect to EPOD Shares: (i) stock powers duly endorsed by EPOD,
or EPOD Industries, as applicable, and otherwise in form acceptable for transfer
of EPOD Shares on the books of Optisolar and Great Lakes, respectively, to
Buyer; (ii) certificates representing EPOD Shares; and (iii) any approvals or
consents required with respect to the transfer of EPOD Shares to Buyer. 

(d) Such other closing documents and instruments as Buyer
reasonably may require. 

5.03. Deliveries of Buyer. Buyer shall deliver or cause
to be delivered to Sellers at the Closing:

(a) The amount of 450,000,000 (four hundred and fifty million)
shares of Common Stock issued to EPOD, unless the Buyer undergoes the Reverse
Stock Split concomitantly with the Closing, in which case Buyer shall issue to
EPOD the aggregate amount of 22,500,000 (twenty-two million five hundred
thousand) validly issued, fully paid and non-assessable new shares of its common
stock, immediately following the effective date of the Reverse Stock Split, in
accordance with Section 4.01. 

(b) A certificate, executed by Buyer’s Secretary certifying the
resolutions of Buyer’s Board of Directors approving the transactions
contemplated hereby. 

(c) A certificate executed on behalf of Buyer by its President,
certifying as to Buyer’s satisfaction of the conditions set forth in Section
5.05(a) and (b). 

5.04. Conditions to the Buyer’s Obligations. The
obligation of the Buyer to consummate the transactions to be performed by it in
connection with the Closing will be subject to the satisfaction (or waiver by
the Buyer, in whole or in part, in writing) of the following conditions as of
the time of the Closing: 

(a) Each representation and warranty set forth in Section 6
will be true and correct in all material respects at and as of the time of the
Closing as though then made, except for changes expressly required by this Agreement and except for any representation or
warranty that expressly relates to a specific prior date. 

5 

(b) Each Seller will have performed and complied in all
material respects with all of the covenants and agreements (considered
collectively), and each of the covenants and agreements (considered
individually), required to be performed by such Seller under this Agreement or
any other agreements, documents and instruments to be entered into by such
Seller in connection with the transactions contemplated hereby at or prior to
the Closing. 

(c) There shall be no proceeding commenced or threatened
against the Buyer or any Seller involving this Agreement or the transactions
contemplated herein or any judgment, decree, injunction or order which prohibits
the consummation of the transactions contemplated by this Agreement. 

(d) Sellers shall have delivered the EPOD Shares to the Buyer,
free and clear of all Liabilities, obligations, Liens, Claims (including Third
Party Claims, whether private, governmental or otherwise) and encumbrances,
excepting only Assumed Liabilities.

(e) There shall have been no material adverse change in the
condition (financial or otherwise), results of operations, properties, assets,
or Liabilities of a Seller. 

(f) Buyer shall have: (i) obtained shareholder approval for the
consummation of the transaction set forth herein including, but not limited to,
the Reverse Stock Split and Authorized Share Capital Increase, and change in
control pursuant to Section 5.07 herein; (ii) obtained any and all other
requisite approvals for the consummation of the transaction set forth herein
(iii) filed a preliminary and a definitive Schedule 14C Information Statement;
(iv) filed all necessary documents and requests with FINRA pertaining to the
Reverse Stock Split and Authorized Share Capital Increase; and (v) obtained
FINRA approval for the Reverse stock Split and Authorized Share Capital
Increase; and (vi) the Authorized Share Capital Increase shall have taken effect
before Closing, as set forth in Section 4.01a.

(g) The pro forma consolidated financial statements of the
Buyer shall have been completed in accordance with the Exchange Act, and the
rules and regulations promulgated thereunder, and the report of independent
auditors with respect to such financial statements completed and submitted. 

(h) Sellers shall have delivered to the Buyer the items set
forth in Section 5.02. 

5.05. Conditions to the Sellers’ Obligations. The
obligation of Sellers to consummate the transactions to be performed by it in
connection with the Closing is subject to the satisfaction (or waiver by EPOD in
writing) of the following conditions as of the Closing Date: 

(a) Each of the representations and warranties set forth in
Section 7 will be true and correct in all material respects at and as of the
time of the Closing as though then made, except for changes expressly required
by this Agreement and except for any representation or warranty that expressly
relates to a specific prior date. 

(b) The Buyer will have performed and complied in all material
respects with all of the covenants and agreements required to be performed by
the Buyer under this Agreement at or prior to the Closing. 

6 

(c) There shall be no proceeding commenced or threatened
against the Buyer or Sellers involving this Agreement or the transactions
contemplated herein or any judgment, decree, injunction or order which prohibits
the consummation of the transactions contemplated by this Agreement. 

(d) The pro forma consolidated financial statements of the
Buyer shall have been completed in accordance with the Exchange Act (as defined
below), and the rules and regulations promulgated thereunder, and the report of
independent auditors with respect to such financial statements completed and
submitted. 

(e) Buyer shall have: (i) obtained shareholder approval for the
consummation of the transaction set forth herein including, but not limited to,
the Reverse Stock Split and Authorized Share Capital Increase, and change in
control pursuant to Section 5.07 herein; (ii) obtained any and all other
requisite approvals for the consummation of the transaction set forth herein
(iii) filed a preliminary and a definitive Schedule 14C Information Statement;
(iv) filed all necessary documents and requests with FINRA pertaining to the
Reverse Stock Split and Authorized Share Capital Increase; and (v) obtained
FINRA approval for the Reverse stock Split and Authorized Share Capital
Increase, and (vi) the Authorized Share Capital Increase shall have taken effect
before Closing, as set forth in Section 4.01a.

(f) The Buyer shall have delivered to the Sellers the items set
forth in Section 5.03. 

5.06. Pre-Closing Covenants.

(a) Operations and Maintenance of the Business. From and
after the date hereof and prior to the Closing, unless the Buyer otherwise
consents in writing or except as set forth expressly herein, each Selling
Subsidiary will conduct their respective business only in the ordinary course of
business as conducted by such Selling Subsidiary consistent with past
practice.

Furthermore, except as may otherwise be required under this
Agreement, no Selling Subsidiary shall do any of the following, without the
prior written consent of the Buyer: 

(i) enter into any Contract, agreement or transaction, or incur
or permit to be incurred, any obligation or other Liabilities with respect to or
materially affecting its business and EPOD shall not enter into any Contract,
agreement or transaction, or incur or permit to be incurred, any obligation or
other Liabilities with respect to EPOD Shares;

(ii) remove any of its assets (other than cash and cash
equivalents) used in its business by way of dividend, distribution, withdrawal
or any other means;

(iii) permit to be incurred any Lien on any of its assets used
in its business; 

(iv) increase the compensation payable or to become payable to
any of its employees retained in connection with its business, or otherwise
enter into or alter any employment or consulting agreement; 

(v) commence, enter into, or alter any profit sharing, deferred
compensation, bonus, option or purchase plan for its interests or other equity
securities, pension, retirement or incentive plan or any fringe benefit plan for
its employees retained in connection with its business; 

7 

(vi) terminate the employment of any of its employees retained
in connection with its business or hire or engage any employees or consultants
in connection with its business, except in the ordinary course of its business;

(vii) cancel or waive any Claims or rights of any Selling
Subsidiary, with respect to or materially affecting its business, outside the
ordinary course of such Selling Subsidiary’s business and consistent with past
practice; 

(viii) change any accounting methods used by any Selling
Subsidiary in connection with its business, except and solely to the extent
required by applicable generally accepted accounting principles or Law; 

(ix) pay or incur any obligation or Liability, absolute or
contingent, with respect to or materially affecting its business other than
obligations or Liabilities incurred in the ordinary course of its business and
consistent with past practice or purchase any asset other than in the ordinary
course of its business; 

(x) make any Tax election or settle or compromise any Tax
Liability which could reasonably be expected to have an adverse impact on the
Taxes payable by Buyer; 

(xi) enter into any joint venture, partnership or other similar
arrangement or form any other material arrangement for the operation of its
business; and 

(xii) enter into any binding commitment to do any of the
foregoing. 

(b) Consents. Sellers shall use their respective best
efforts to obtain all consents and approvals of Third Parties necessary and
required (including Third Party Claims, whether private, governmental or
otherwise) for the consummation of the transactions contemplated herein. 

(c) Pre-Closing Filings. Buyer shall make all SEC
required filings pertaining to the consummation of this transaction including
filing a Schedule 14C Information Statement and shall take all necessary steps
to obtain FINRA approval for the contemplated Authorized Share Capital Increase
and Reverse Stock Split.

(d) Information. From time to time at the Buyer’s
request, upon reasonable prior notice and at reasonable times during normal
business hours, subject to requirements of Law, the Sellers will provide to
representatives of the Buyer and its agents, employees and accounting, tax,
legal and other advisors (collectively, including the Buyer, the “Investigating
Parties”) access to each Seller’s premises, properties, operations and books and
records, and will cause each of the Sellers respective officers, employees,
representatives, agents and accounting, tax, legal and other advisors to furnish
to Buyer and the Investigating Parties such financial and operating data and
other such information with respect to the Business and the properties of such
Seller as the Investigating Parties shall request. 

(e) Efforts to Close. Each Party will use commercially
reasonable efforts to cause the conditions to Buyer’s and Sellers’ respective
obligations to consummate the transactions contemplated by this Agreement to be
satisfied including the preparation, execution and delivery of all agreements
and instruments contemplated hereunder to be executed and delivered by such
Party in connection with or prior to the Closing. 

8 

(f) Schedules. The Sellers shall promptly (and in any
event prior to the Closing) advise Buyer, orally and in writing, of any change
or event having, or which would have (insofar as can be reasonably foreseen), a
Material Adverse Effect or would constitute, or with the passage of time would
constitute, a breach of any representation or warranty of the Sellers contained
in this Agreement. Sellers agree that, with respect to their representations and
warranties made in this Agreement, each of them will have a continuing
obligation to supplement or amend the schedules hereto with respect to any
matter hereafter arising or discovered which, if existing or known at the date
of this Agreement, would have been required to be set forth or described in the
schedules hereto; provided, however, that neither the supplementing or amending
of any schedules by Sellers, nor the discovery of any matters by Buyer in the
course of its investigations, shall be deemed to cure any breach of any
representation or warranty made in this Agreement or to have been disclosed as
of the date of this Agreement. 

(g) Competitive Offers. Sellers shall not, directly or
indirectly, and will cause each of their respective officers, employees and
Affiliates not to, solicit or initiate the submission of proposals from, or
solicit, encourage, entertain or enter into arrangements, agreements or
understandings with, or discuss with or furnish information to, any Person
(other than the Buyer and the Investigating Parties) with respect to the
acquisition in whatever form of all or any portion of the EPOD Shares. 

5.07 Change in Control of the Buyer. Upon the signing of
this Agreement, the Parties agree to take the necessary steps so that Michael
Matvieshen shall be appointed as President, CEO Secretary, Treasurer and
Director of ICP effective as of the signing of this Agreement. 

In addition, prior to Closing, the Parties will take all
necessary steps to effect any and all necessary changes to the Officers and
Directors of ICP, so that the following individuals shall constitute the
officers and directors of ICP effective at Closing: 

	Michael Matvieshen 	President, Chief Executive Officer, Secretary,
      Treasurer and Director 
	Larry Faulk 	Director 
	Ron Stewart 	Director 
	Mark Roseborough 	Director 
	David Dangoor 	Director 
	Paul Maycock 	Director 
	Sass Peress 	Director 

5.08. Effect of Failure to Close. If the Closing of the
transactions contemplated herein does not occur for any reason, then the rights
and obligations of the Parties hereunder shall terminate without any Liability
of any Party to any other Party.

SECTION 6 

REPRESENTATIONS, WARRANTIES AND COVENANTS OF SELLERS 

Sellers hereby represent and warrant to the Buyer as
follows:

6.01. Each Seller Subsidiary is a corporation duly organized,
validly existing and in good standing under the laws of the state of its
incorporation. EPOD is a corporation duly organized, validly existing and in
good standing under the laws of the province of British Columbia, Canada. Each
Seller has the power and the authority and all Licenses and permits
required by Governmental or Regulatory Authorities to own and operate its assets
and carry on the Business as now being conducted.

9 

6.02. Sellers have the requisite power and authority to execute
and perform this Agreement and all other agreements, documents and instruments
to be entered into by each of them, as applicable, in connection with the
transactions contemplated hereby.

6.03. With the exception of Great Lakes, of which EPOD
Industries is the sole stockholder, EPOD is the sole stockholder of each Seller
Subsidiary and of EPOD Industries. The execution, delivery and performance of
this Agreement and all other agreements to be entered into in connection with
the transactions contemplated hereby have been duly authorized by the board of
directors of each Seller Subsidiary, and by EPOD and EPOD Industries as the sole
stockholder of each Seller Subsidiary, and do not violate or conflict with any
provisions of the organizational documents of any Seller Subsidiary or any
agreement, instrument, Law, order or regulation to which any Seller Subsidiary
is a party or by which a Seller Subsidiary is bound. All corporate action
required to be taken by EPOD to authorize the execution, delivery and
performance of this Agreement and all other agreements to be entered into by
EPOD in connection with the transactions contemplated hereby has been taken, and
such execution, delivery and performance do not violate or conflict with any
provisions of the organizational documents of EPOD or any agreement, instrument,
Law, order or regulation to which EPOD is a party or by which EPOD is bound. No
consent, approval or authorization of, or filing with or notification to, any
lender, security holder, Governmental or Regulatory Authority or other person or
entity is required by a Seller or in connection with the execution, delivery and
performance by such Seller of this Agreement and the consummation of the
transactions contemplated hereby. 

6.04. Each Seller has all requisite corporate power and
authority to execute and deliver this Agreement and all other agreements to be
entered into in connection with the transactions contemplated hereby to which it
is a party, and to perform its obligations hereunder and thereunder. This
Agreement has been, and upon execution and delivery thereof, each of the other
agreements to be entered into in connection with the transactions contemplated
hereby to which a Seller is a party will be, duly and validly executed and
delivered by such Seller and the valid and binding obligations of each Seller,
enforceable against such Seller in accordance with their terms, except as
enforceability may be limited by bankruptcy, insolvency, reorganization,
moratorium and other similar laws from time to time in effect affecting the
enforcement of creditors’ rights generally, and except as enforcement of
remedies may be limited by general equitable principles. 

6.05. EPOD is a party to the Peterborough Letter Agreement and
to the Northland Term Sheet and undertakes to use its best efforts to facilitate
the execution of a Formal Agreements between the Buyer and Peterborough and a
Partnership Agreement between the Buyer and Northland, as set forth in Section 3
herein.

6.06. No Seller has any Knowledge of any action, suit,
litigation or proceeding pending or threatened against it or otherwise, nor does
such Seller know of any basis for any such action, or of any governmental
investigation relating to its business. 

6.07. No Seller has Knowledge of any order, writ, injunction or
decree that has been issued by, or requested of, any court or Governmental or
Regulatory Authority which is against, or binding on such Seller. 

6.08. Each Seller has obtained all required approvals or
authorizations of this Agreement and any other agreements to be entered into in
connection with the transactions contemplated hereby which are required by applicable Laws or otherwise in order to make
this Agreement or any other agreements entered into in connection with the
transactions contemplated hereby binding upon Seller. 

10 

6.09. There are no Liens for any federal, state, county or
local franchise, income, excise, property, business, sales, commercial rent,
employment or other Taxes upon any of the Sellers or Seller Subsidiaries. Each
Seller has timely filed all federal, foreign, state, county and local franchise,
income, excise, property, business, sales, commercial rent and employment and
other Tax Returns which are required to be filed through the Closing Date, and
has paid, or will pay, all Taxes which are due and payable on or before the
Closing Date.

6.10. Each Seller has, in all material respects, complied and
is in compliance with all applicable Laws, orders and regulations of any
Governmental or Regulatory Authority applicable to such Seller, its operation of
the business, assets or property or its operations including, without
limitation, applicable Laws relating to zoning, building codes, antitrust,
occupational safety and health, Environmental Law, consumer product safety,
product liability, hiring, wages, hours, employee benefit plans and programs,
collective bargaining and withholding and social security taxes.

6.11. The representations and warranties of each Seller
contained in this Agreement will be true and correct on and as of the Closing
Date with the same force and effect as though such representations and
warranties had been made on and as of the Closing Date. 

6.12. With respect to the Common Stock being issued to EPOD,
said shares are being acquired for investment purposes only and not with a view
towards resale or distribution. Sellers have had an opportunity to ask questions
of Buyer and have done so. The shares of Common Stock are restricted securities
that have not been registered for re-sale pursuant to the Securities Act.
Sellers understand that the Common Stock may not be sold, transferred, assigned
or hypothecated or otherwise distributed to its stockholders as a dividend or
otherwise, absent the effectiveness of a registration statement covering the
sale of such Common Stock or an exemption from the registration requirements the
Securities Act.

6.13. No Seller has any Liability or obligation to pay any fees
or commissions to any broker, finder or agent with respect to the transactions
contemplated by this Agreement or any other agreements to be entered into in
connection with the transactions contemplated hereby. 

6.14. EPOD and EPOD Industries, as the case may be, are the
sole record and beneficial holder of EPOD Shares, and EPOD Shares constitute all
of the issued and outstanding shares of capital stock of each of Great Lakes and
Optisolar held by EPOD Industries and EPOD respectively, and each has no other
rights to purchase, acquire or receive any shares of Great Lakes’, or
Optisolar’s capital stock. EPOD Shares represent all of the issued and
outstanding shares of capital stock of each of Great Lakes and Optisolar. There
is no restriction affecting the ability of EPOD to transfer the title and
ownership of EPOD Shares to Buyer, and upon delivery of the certificates for
EPOD Shares to Buyer pursuant to the terms of this Agreement and payment of the
Purchase Price at the Closing, Buyer will acquire record and legal title to such
EPOD Shares, free and clear of all Liabilities, obligations, Liens, Claims
(including Third Party Claims) and encumbrances. 

SECTION 7 

REPRESENTATIONS AND WARRANTIES OF BUYER 

11 

Except as disclosed by Buyer on Buyer’s reports, statements,
schedules, prospectuses, and other documents filed with the Securities and
Exchange Commission (the “SEC”) in accordance with the Securities and Exchange
Act of 1934, as amended, and the rules and regulations promulgated thereunder
(the “Exchange Act”) (collectively, as amended and/or supplemented to date, the
“Securities Filings”), Buyer represents and warrants to the Sellers as follows:

7.01. Buyer is a corporation duly organized, validly existing
and in good standing under the laws of the State of Nevada. 

7.02. Buyer is duly qualified to conduct business under the
laws each jurisdiction where such qualification is necessary, except where the
failure to be so qualified would not have a Material Adverse Effect.

7.03. Subject to Sections 4.01a and 5.04 (f) a herein, Buyer
has all other requisite corporate power and authority to execute and deliver
this Agreement and all other agreements to be entered into in connection with
the transactions contemplated hereby to which it is a party, and to perform its
obligations hereunder and thereunder. The execution and delivery by Buyer of
this Agreement and all other agreements to be entered into in connection with
the transactions contemplated hereby to which it is a party, and the performance
by Buyer of its obligations hereunder and thereunder, shall be duly and validly
authorized by all necessary corporate action on the part of Buyer, including any
vote of stockholders. This Agreement has been, and upon execution and delivery
thereof, each of the other agreements to be entered into in connection with the
transactions contemplated hereby to which Buyer is a party will be, duly and
validly executed and delivered by Buyer and the valid and binding obligations of
Buyer, enforceable against Buyer in accordance with their terms, except as
enforceability may be limited by bankruptcy, insolvency, reorganization,
moratorium and other similar laws from time to time in effect affecting the
enforcement of creditors’ rights generally, and except as enforcement of
remedies may be limited by general equitable principles.

7.04. Except as otherwise stated in this Agreement, there is no
additional requirement applicable to Buyer to make any filing with, or to obtain
any permit, authorization, consent or approval of, any governmental entity as a
condition to the lawful consummation by Buyer of the transactions contemplated
pursuant to this Agreement. The execution, delivery and performance of this
Agreement by Buyer does not, and the consummation of the transactions
contemplated hereby will not (with or without the giving of notice, the lapse of
time or both), (i) conflict with or result in any breach of any provision of the
Articles of Incorporation or Bylaws of Buyer, or (ii) violate any applicable
Law, rule, regulation, order, writ, judgment, ordinance, injunction or decree of
any governmental entity to which Buyer is a party or is bound.

7.05 The authorized capital of Buyer shall consist, immediately
prior to the Closing, of 800,000,000 shares of Common Stock, of which 54,044,295
shares are issued and outstanding as of the date of the signing of this
Agreement. All of the outstanding shares of common stock have been duly
authorized, are fully paid and nonassessable and were issued in compliance with
all applicable federal and state securities laws. Buyer holds no treasury stock
and no shares of common stock in its treasury. The rights, privileges and
preferences of the common stock are as stated in Buyer’s Articles of
Incorporation and as provided by the general corporation law of the jurisdiction
of the Buyer’s incorporation.

7.06. The officers and directors of ICP are as follows:

12 

	Sass Peress 	President, CEO, Secretary, Treasurer and
      Director 
	David Dangoor 	Director 
	Paul Maycock 	Director 
	Larry Faulk 	Director 
	Ron Stewart 	Director 
	Mark Roseborough 	Director 

7.07 The shares of Common Stock to be issued to EPOD in
accordance with Section 4.01 will at the time of issuance be, duly authorized,
validly issued and fully paid and non-assessable in all respects, free from any
pre-emptive or other rights, and the issuance thereof will, at the time of
issuance, not violate any agreement or trigger the anti dilution, right of first
refusal, co-sale or similar provisions of any agreement to which the Buyer is
bound. Immediately upon the Authorize Share Capital Increase, Buyer shall
reserve a sufficient number of shares of Common Stock for issuance to EPOD. Upon
issuance in accordance with the terms of this Agreement, such shares will be
duly authorized, validly issued, fully paid and non-assessable in all respects,
free from any pre-emptive or other rights (other than as entered into after the
date of Closing), and the issuance thereof will not violate any agreement or
trigger the anti-dilution, right of first refusal, co-sale or similar provisions
of any agreement to which Buyer is bound. 

7.08. All Securities Filings required to be filed by Buyer with
the SEC pursuant to the Exchange Act, along with all exhibits to such annual,
quarterly and other reports as available on the SEC’s EDGAR database website,
are true, correct and complete in all material respects as of the date of filing
thereof, and said reports do not, as of the date of filing thereof, fail
disclose or omit any material fact, agreement or matter relating to the Buyer.

7.09 Other than as disclosed in Schedule B, there
is no claim, action, suit, proceeding, arbitration, complaint, charge or
investigation pending or to Buyer’s Knowledge, currently threatened against
Buyer or, to the best of Buyer’s Knowledge, threatened against any officer or
director of Buyer, that questions the validity of this Agreement or the right of
Buyer to enter into it, or to consummate the transactions contemplated hereby,
or could have or reasonably be expected to have, either individually or in the
aggregate, a material adverse effect upon the Business. Neither Buyer nor, to
the best of Buyer’s Knowledge, any of its officers or directors, is a party or
is named as subject to the provisions of any order, writ, injunction, judgment
or decree of any court or government agency or instrumentality (in the case of
officers or directors, such as would affect Buyer). There is no action, suit,
proceeding or investigation by Buyer pending or which Buyer intends to initiate.
The foregoing includes, without limitation, actions, suits, proceedings or
investigations pending or threatened in writing (or any basis therefore known to
Buyer) involving the prior employment of any of Buyer’s employees, their
services provided in connection with the Business, or any information or
techniques allegedly proprietary to any of their former employers, or their
obligations under any agreements with prior employers. 

7.10. Except as expressly set forth in this Section 7, Buyer
makes no other representation or warranty with respect to the transactions
contemplated by this Agreement or other agreements to be entered into in
connection with the transactions contemplated hereby. 

SECTION 8 

SURVIVAL OF REPRESENTATIONS AND WARRANTIES;
INDEMNIFICATION 

8.01 Survival of Representations and Warranties. All of
Buyer’s representations and warranties in this Agreement or in any other
agreements to be entered into in connection with the transactions contemplated
hereby to which it is a party, and all of Sellers’ representations and
warranties in this Agreement, in any other agreements to be entered into
in connection with the transactions contemplated hereby, or in any instrument
delivered pursuant hereto or thereto, shall survive the Closing Date and
continue until the date which is 12 (twelve) months after the Closing Date;
provided, however, that (i) any claim based on fraud shall survive indefinitely,
(ii) any claim for violation of the representations and warranties with respect
to Taxes, employee matters or Environmental Law shall survive until the
expiration of the applicable statute of limitations applicable to any claim or
right of action related thereto, (iii) the covenants and agreements contained in
this Agreement and the other agreements to be entered into in connection with
the transactions contemplated hereby and to be performed at the Closing Date
will survive until fully performed in accordance with their terms, and (iv) any
claim for indemnity asserted pursuant to Section 8.02 shall, if made within the
applicable time period set forth above with respect to an accrued Liability,
survive indefinitely. However, no claim for indemnity may be asserted under
Section 8.02 unless notice of such claim is given to EPOD or Buyer, as the case
may be, prior to the appropriate period(s) specified in the preceding sentence. 

13 

8.02 Indemnification. 

(a) EPOD agrees, from and after the Closing Date, for the
appropriate period(s) specified in Section 8.01, above, to indemnify and hold
Buyer and its officers, directors, agents or Affiliates and their respective
successors and assigns (the “Buyer Indemnified Parties”), harmless from and
against any Loss incurred by any Buyer Indemnified Party, directly or
indirectly, resulting from (i) noncompliance with any applicable bulk sales or
transfer Law, (ii) any Liability or Contract of, or Claim against, a Seller,
whether contingent or absolute, direct or indirect, known or unknown, matured or
unmatured (including but not limited to Liabilities for Taxes), (iii) any
Liability or Claim arising in any way from any service rendered, or action taken
by, or relating to the operations of, a Seller prior to the Closing Date, (iv)
any Liability or Claim under any Environmental Laws relating to any event,
action or failure to act which occurred prior to the Closing Date, or (v) the
breach or inaccuracy of or failure to comply with, or the existence of any facts
resulting in the inaccuracy of, any of the warranties, representations,
conditions, covenants or agreements of a Seller contained in this Agreement or
in any agreement or document delivered pursuant hereto or in connection
herewith, or arising out of the consummation of the transactions contemplated
hereby. 

(b) Buyer agrees from and after the Closing Date, for the
appropriate period(s) specified in Section 8.01, above, to indemnify and hold
Sellers and their respective Affiliates, successors and assigns (the “Seller
Indemnified Parties”) harmless from and against any Loss incurred by any Seller
Indemnified Party directly or indirectly resulting from (i) any Liability or
Claim arising in any way from any service rendered, or action taken by, or
relating to the operations of, Buyer after the Closing Date, (ii) any Liability
or Claim under any Environmental Laws relating to any event, action or failure
to act which occurs after the Closing Date, or (iii) any Claim arising out of
Buyer’s breach, failure to fully repay and satisfy, default in or failure to
comply with the terms of, the Assumed Liabilities or any breach of any
warranties, representations, conditions, covenants or agreements of Buyer
contained in this Agreement to which the Buyer is a party, or in any other
agreement, certificate or document delivered pursuant to or in connection with
this Agreement or arising out of the Closing of the transactions contemplated
hereby. 

(c) If any Third Party shall notify any party (the “Indemnified
Party”) with respect to any matter which may give rise to a claim for
indemnification against any other party (the “Indemnifying Party”) under this
Section 8, then the Indemnified Party shall notify each Indemnifying Party
thereof promptly; provided, however, that no delay on the part of the
Indemnified Party in notifying any Indemnifying Party shall relieve the
Indemnifying Party from any Liability or obligation hereunder unless (and then
solely to the extent) the Indemnifying Party thereby is materially damaged. In
the event any Indemnifying Party notifies the Indemnified Party within
thirty (30) days after the Indemnified Party has given notice of the matter that
the Indemnifying Party is assuming the defense thereof, (i) the Indemnifying
Party will defend the Indemnified Party against the matter with counsel of its
choice reasonably satisfactory to the Indemnified Party, (ii) the Indemnified
Party may retain separate co-counsel (at its cost), (iii) the Indemnified Party
will not consent to the entry of any judgment or enter into any settlement with
respect to the matter without the written consent of the Indemnifying Party (not
to be withheld unreasonably), and (iv) the Indemnifying Party will not consent
to the entry of any judgment with respect to the matter, or enter into any
settlement which does not include a provision whereby the plaintiff or claimant
in the matter releases the Indemnified Party from all Liability with respect
thereto, without the written consent of the Indemnified Party (not to be
withheld unreasonably). In the event the Indemnifying Party fails to assume the
defense of the matter as provided herein within thirty (30) days after the
Indemnified Party has given notice thereof, the Indemnified Party may defend
against, or enter into any settlement with respect to, the matter in any manner
it reasonably may deem appropriate. 

14 

(d) After the Closing Date, the right of indemnification under
this Section 8 shall be the sole and exclusive remedy available to any Party for
any claim or cause of action arising under this Agreement or other agreements to
be entered into in connection with the transactions contemplated hereby in
connection with any breach of any representation, warranty, covenant or
provision of this Agreement this Agreement, other agreements to be entered into
in connection with the transactions contemplated hereby or otherwise; provided,
however, that this exclusive remedy does not preclude a Party from bringing an
action for specific performance or other equitable remedy to require a party to
perform its obligations under this Agreement. Each Party expressly waives any
rights it may have to make a claim against the other pursuant to any
constitutional, statutory, or common law authorities. The provisions of this
Section 8.02(d) shall not apply to claims arising out of or relating to the
fraud, gross negligence or willful misconduct of the Parties. 

SECTION 9 

PRESERVATION OF BOOKS AND RECORDS 

For a period of 3 (three) years after the Closing date, Buyer
shall preserve the books and records of Sellers delivered to Buyer; and Sellers
shall similarly make available to Buyer any records which Buyer permits Sellers
to retain; each Party will make such books and records available to the other
Party at all reasonable times and permit the other Party to make extracts from
or copies of all such records. 

SECTION 10 

CERTAIN OTHER COVENANTS AND AGREEMENTS 

10.01. Further Assurances. Upon the request of either
Party hereto, the other Party will execute and deliver to the requesting Party,
or such Party’s nominee, all such instruments and documents of further assurance
or otherwise, and will do any and all such acts and things as may reasonably be
required to carry out the obligations of such Party hereunder and to more
effectively consummate the transactions contemplated hereby, including, without
limitation, submitting information required by a Governmental or Regulatory
Authority, obtaining all consents and approvals from Third Parties, under
leases, agreements and other Contracts. 

10.02. Quotation. Buyer shall use its best efforts to
maintain the eligibility for quotation of the Common Stock on the over the
counter bulletin board. 

15 

	 	10.03. 	
      SEC Reports. Buyer shall file with the SEC all
      reports that are required to be filed pursuant to the Exchange Act with
      respect to this Agreement and the transactions contemplated hereby,
      including but not limited to Current Reports on Form 8-K and Schedule 14C
      Information Statement.

	 	 	 
	 	10.04. 	
      FINRA Approval. Buyer shall undertake all required
      steps to obtain FINRA approval for the Authorized Share Capital Increase
      and for the Reverse Stock Split contemplated
herein.

SECTION 11

MISCELLANEOUS 

11.01. Governing Law. This Agreement shall be construed
and interpreted in accordance with the laws of the State of Nevada shall be
enforceable exclusively in the courts thereof.

11.02. Modification. This Agreement may be modified,
amended or terminated, and the requirements of any provision hereof may be
waived, with the mutual consent of Seller and Buyer by written instrument signed
by them or their respective successors or assigns in any manner deemed necessary
or appropriate by them. 

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

11.04. Notices. Any notice or other communication
hereunder may be sent by any means (including facsimile or email or other
electronic means, provided that receipt thereof is acknowledged and confirmed by
the recipient) and shall be effective upon receipt; except that, if sent via
domestic certified mail or via international overnight courier such as Federal
Express, said notice shall be conclusively deemed to have been received by a
Party hereto and be effective on the earlier of (a) the actual date of receipt,
or, if earlier, (b) the third business day following the date given to the post
office or courier for delivery. In addition to such notices and communications
as shall be addressed to such Party at the address set forth at the outset of
this Agreement (or such other address as such Party shall specify to the other
Party in writing), mandatory copies, sent in such manner, shall be delivered to
the additional addressees set forth below: 

	As to Seller: 	EPOD Solar Inc 
	  	5 – 215 Neave Road 
	  	Kelowna British Columbia, Canada V1V 2L9 
	  	Attn: Michael Matvieshen, President 
	 	 
	As to Buyer: 	ICP Solar Technologies Inc. 
	  	70705 Place Robert-Joncas Unit 131 
	  	Montreal, Quebec, Canada H4M 2Z2 
	  	Attn: Sass Peress, President and CEO
  

16

11.05. Entire Agreement. This Agreement, together with
its schedules, exhibits and the other agreements to be entered into in
connection with the transactions contemplated hereby, constitutes the entire
understanding among the Parties and supersedes all other understandings and
agreements, oral or written, with respect to the subject matter hereof. 

11.06. Headings. The descriptive headings of the several
sections and paragraphs of this Agreement are inserted for convenience only and
do not constitute a part of this Agreement. 

11.07. Equitable Remedies. In the event that any Party
to this Agreement shall default in the performance of any obligation, covenant
or agreement hereunder, the other Parties to this Agreement shall, in addition
to all other remedies which may be available to it, be entitled to injunctive
and equitable relief, including without limitation specific performance, and
shall be entitled to recover from the defaulting Party or Parties its costs and
expenses (including reasonable attorneys’ fees) incurred by it in securing such
injunctive or equitable relief. 

11.08. Severability. In the event that any provision of
this Agreement shall be held to be invalid or unenforceable by a court of
competent jurisdiction, the remainder of this Agreement should remain in full
force and effect and be interpreted as if such invalid or unenforceable
provision had not been a part hereof; provided, however, if any particular
portion of this Agreement shall be adjudicated invalid or unenforceable by
reason of the length of time or scope of applicability provided for herein, this
Agreement shall be deemed amended to diminish such time and/or reduce such scope
to the longest enforceable time and the broadest enforceable scope of
applicability. 

11.09. Assignment. Buyer shall be entitled to assign all
or part of its rights, title and interest under this Agreement to an Affiliate;
provided that such subsidiary or Affiliate shall assume the corresponding
obligations of Buyer under this Agreement. A copy of any assignment made
hereunder shall be promptly forwarded to EPOD. Sellers may not assign all or any
part of their respective rights, title and interest under this Agreement without
the prior written consent of Buyer. 

11.10. Successors and Assigns. This Agreement shall be
binding upon and inure to the benefit of the Parties herein and their successors
and permitted assigns. 

11.11. Publicity. Neither Party shall not issue nor
cause the publication of any press release or other announcement with respect to
this Agreement or the transactions contemplated hereby without the consent of
the other Party, which consent shall not be unreasonably withheld, except where
such release or announcement is required by applicable Law or the rules of any
stock exchange, stock market or Governmental or Regulatory Authority having
authority over any Party.

(Signature page follows.) 

17 

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

	 	SELLERS: 
	 	 
	 	EPOD SOLAR INC. 
	 	 
	 	By: /s/ Michael Matvieshen 
	 	Name: Michael Matvieshen 
	 	Its: President 
	 	 
	 	EPOD INDUSTRIES, INC. 
	 	 
	 	By: /s/ Michael Matvieshen 
	 	Name: Michael Matvieshen 
	 	Its: President 
	 	 
	 	BUYER: 
	 	 
	 	ICP SOLAR TECHNOLOGIES INC.

	 	 
	 	By: 
      /s/Sass Peress_________
  
	 	Name: Sass Peress 
	 	Its: President and CEO 

SCHEDULE A 

Great Lakes Subsidiaries 

1. EPOD Thüringen which shall hold the Mosel, Tangerhutte and
Volkersleier solar parks prior to Closing. 

SCHEDULE B 

Litigation 

1. The Buyer is a defendant in a claim instituted by a former
officer for a severance payment of approximately $150,000.

2. The Buyer has been issued a claim for approximately $28,000
for product liability which will be covered through the Buyer’s product
liability insurance.

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