Document:

Exhibit 4.4

Exhibit 4.4

Appendix "B"

The 2001 Stock Option Plan and individual stock option agreements under the
2001 Stock Option Plan were amended by a directors' resolution date September
13, 2005. A Form S-8 concerning this amendment and a similar amendment to the
2004 Stock Option Plan has or will be filed by the Company. All outstanding
individual option plans remain validly granted. The outstanding individual stock
option plans were amended to read as follows:

Stock Option Agreement

SUN NEW MEDIA INC.

THIS AGREEMENT is entered into as of ____ day of __________________, 2001
(the "Date of Grant")

BETWEEN:

  
    
    SUN NEW MEDIA INC., (fka SE Global Equities Corp.), a corporation
    incorporated pursuant to the laws of State of Minnesota, having a business
    office at Suite 1200, 777 West Broadway, Vancouver, British Columbia, Canada
    V5Z 4J7;

    (the "Company")

  

AND:

  
    
    ______________________, of __________________________________

    ________________________________________________________________________________________________________________________

    (the "Optionee")

  

WHEREAS:

	The Board of Directors of the Company (the "Board") has approved
    and adopted the 2001 Stock Option Plan (the "Plan"), pursuant to
    which the Board is authorized to grant to employees and other selected
    persons stock options to purchase common stock, without par value, of the
    Company (the "Common Stock");
	The Plan provides for the granting of stock options that either (i) are
    intended to qualify as "Incentive Stock Options" within the
    meaning of Section 422 of the Internal Revenue Code of 1986, as amended (the
    "Code"), or (ii) do not qualify under Section 422 of the Code
    ("Non-Qualified Stock Options"); and
	The Board has authorized the grant to Optionee of options to purchase a
    total of _______________________ shares of Common Stock (the
    "Options"), which Options are intended to be (select one):

  
    
                [ ] Incentive Stock Options; or

                [ ] Non-Qualified Stock Options;

    

  

NOW THEREFORE, the Company agrees to offer to the Optionee the option to
purchase, upon the terms and conditions set forth herein and in the Plan,
_______________ shares of Common Stock. Capitalized terms not otherwise defined
herein shall have the meanings ascribed thereto in the Plan.

  	Exercise Price and Duration. The Options shall be exercisable until
  4:00 p.m. (Vancouver time) on that day (the "Expiration Date") that
  is ________ years following the Date of Grant, at an exercise price of
  US$______ per share; provided that in accordance with Section 5.1(d) of the
  Plan:

	the Expiration Date of any Incentive Stock Option granted to a greater
      than ten percent (> 10%) shareholder of the Company shall not be later
      than five (5) years from the Date of Grant);

    
	so long as the Company's Common Stock is traded on a Designated Exchange
      (as defined in the Plan), all Options granted pursuant to the Plan shall
      expire not later than five (5) years from the Date of Grant; and

    
	if the Common Shares are not traded on a Designated Exchange and in the
      absence of action to the contrary by the Plan Administrator (as defined in
      the Plan) in connection with the grant of a particular Option, and except
      in the case of Incentive Stock Options as described above, all Options
      granted under the Plan shall expire not later than ten (10) years from the
      Date of Grant.

    

  
  	Limitation on the Number of Shares. If the Options granted hereby are
  Incentive Stock Options, the number of shares which may be acquired upon
  exercise thereof is subject to the limitations set forth in Section 5.1(a) of
  the Plan.

  

  	Vesting Schedule.

  

	If the Options granted hereby are Non-Qualified Stock Options, they
      shall vest as of the Date of Grant.

    
	If the Options granted hereby are Incentive Stock Options, they shall
      vest in accordance with Section 5.1(e) of the Plan.

    

  
  	Options not Transferable. The Options may not be transferred,
  assigned, pledged or hypothecated in any manner (whether by operation of law
  or otherwise) other than by will or by applicable laws of descent and
  distribution, and shall not be subject to execution, attachment or similar
  process. In the event of an Optionee's death, any Option held by the Optionee
  shall be exercisable only by the person or persons to whom such Optionee's
  rights under such Option shall pass by the Optionee's will or by the laws of
  descent and distribution. Upon any attempt to transfer, pledge, hypothecate or
  otherwise dispose of any Option or of any right or privilege conferred by the
  Plan contrary to the provisions thereof, or upon the sale, levy or attachment
  or similar process upon the rights and privileges conferred by the Plan, such
  Option shall thereupon terminate and become null and void.

  

  	Investment Intent. By accepting the Options, the Optionee represents
  and agrees that none of the shares of Common Stock purchased upon exercise of
  the Options will be distributed in violation of applicable federal and state
  laws and regulations. In addition, the Company may require, as a condition of
  exercising the Options, that the Optionee execute an undertaking, in such a
  form as the Company shall reasonably specify, that the Stock is being
  purchased only for investment and without any then-present intention to sell
  or distribute such shares.

  

  	Termination of Options. Vested Options shall terminate, to the extent
  not previously exercised, upon the occurrence of the first of the following
  events:

-2-

    	Expiration. The Expiration Date.

    

    	Termination for Cause. The date of an Optionee's termination of
    employment or contractual relationship with the Company or any Related
    Corporation (as defined in the Plan) for cause (as determined in the sole
    discretion of the Plan Administrator, acting reasonably).

  	Termination of Options Granted in the Optionee's Capacity as a Director.
  Notwithstanding Section 6, any Options that have vested and which have been
  granted to the Optionee in the Optionee's capacity as a director of the
  Company or a Related Corporation shall terminate upon the occurrence of the
  first of the following events:

  

    	Expiration. The Expiration Date.

    	Termination for Cause. The date the Optionee is removed as a
    director for cause (as determined in the sole discretion of the Plan
    Administrator, acting reasonably).

  	Termination of Unvested Incentive Stock Options. Each unvested
  Incentive Stock Option granted pursuant hereto shall terminate upon the
  occurrence of the following events:

  

    	Expiration. The Expiration Date.

    

    	Termination for Cause. The date of an Optionee's is removed as a
    director or employment or contractual relationship is terminated with the
    Company or any Related Corporation (as defined in the Plan) for cause (as
    determined in the sole discretion of the Plan Administrator, acting
    reasonably).

    

  	Termination of Unvested Incentive Stock Options. Each unvested
  Incentive Stock Option granted pursuant hereto shall terminate immediately
  upon termination of the Optionee's employment or contractual relationship with
  the Company for any reason whatsoever, including death or Disability, unless
  vesting is accelerated in accordance with Section 5(f) of the Plan.

  

  	Stock. In the case of any stock split, stock dividend or like change
  in the nature of shares of Stock covered by this Agreement, the number of
  shares and exercise price shall be proportionately adjusted as set forth in
  Section 5(m) of the Plan.

  

  	Exercise of Option. Options shall be exercisable, in full or in part,
  at any time after vesting, until termination; provided, however, that
  any Optionee who is subject to the reporting and liability provisions of
  Section 16 of the Securities Exchange Act of 1934 with respect to the
  Common Stock shall be precluded from selling or transferring any Common Stock
  or other security underlying an Option during the six (6) months immediately
  following the grant of that Option. If less than all of the shares included in
  the vested portion of any Option are purchased, the remainder may be purchased
  at any subsequent time prior to the expiration or termination of the Option.
  Only whole shares may be issued pursuant to an Option, and to the extent that
  an Option covers less than one (1) share, it is unexercisable.

Each exercise of the Options shall be by means of delivery of a notice of
  election to exercise (which may be in the form attached hereto as Exhibit A)
  to the Chief Financial Officer of the Company at its principal executive
  office, specifying the number of shares of Common Stock to be purchased and
  accompanied by payment in cash by certified check or cashier's check in the
  amount of the full exercise price for the Common Stock to be purchased.

  
  	Holding Period for Incentive Stock Options. In order to obtain the tax
  treatment provided for Incentive Stock Options by Section 422 of the Code, the
  shares of Common Stock received upon exercising any Incentive Stock Options
  received pursuant to this Agreement must be sold, if at all, after a date
  which is later of two (2) years from the date of this agreement is entered
  into or one (1) year from the date upon which the Options are exercised. The
  Optionee agrees to report sales of shares prior to the above determined date
  to the Company within one (1) business day after such sale is concluded. The
  Optionee also agrees to pay to the Company, within five (5) business days
  after such sale is concluded, the amount necessary for the Company to satisfy
  its withholding requirement required by the Code in the manner specified in
  Section 5.1(1)(iii) of the Plan. Nothing in this Section is intended as a
  representation that Common Stock may be sold without registration under state
  and federal securities laws or an exemption therefrom or that such
  registration or exemption will be available at any specified time.

  

-3-

  	Subject to 2001 Stock Option Plan. The terms of the Options are
  subject to the provisions of the Plan, as the same may from time to time be
  amended, and any inconsistencies between this Agreement and the Plan, as the
  same may be from time to time amended, shall be governed by the provisions of
  the Plan, a copy of which has been delivered to the Optionee, and which is
  available for inspection at the principal offices of the Company.

  

  	Professional Advice. The acceptance of the Options and the sale of
  Common Stock issued pursuant to the exercise of Options may have consequences
  under federal and state tax and securities laws which may vary depending upon
  the individual circumstances of the Optionee. Accordingly, the Optionee
  acknowledges that he or she has been advised to consult his or her personal
  legal and tax advisor in connection with this Agreement and his or her
  dealings with respect to Options for the Common Stock. Without limiting other
  matters to be considered, the Optionee should consider whether upon the
  exercise of Options, the Optionee will file an election with the Internal
  Revenue Service pursuant to Section 83(b) of the Code.

  

  	No Employment Relationship. Whether or not any Options are to be
  granted under this Plan shall be exclusively within the discretion of the Plan
  Administrator, and nothing contained in this Plan shall be construed as giving
  any person any right to participate under this Plan. The grant of an Option
  shall in no way constitute any form of agreement or understanding binding on
  the Company or any Related Corporation, express or implied, that the Company
  or any Related Corporation will employ or contract with an Optionee for any
  length of time, nor shall it interfere in any way with the Company's or, where
  applicable, a Related Corporation's right to terminate Optionee's employment
  at any time, which right is hereby reserved.

  

  	Entire Agreement. This Agreement is the only agreement between the
  Optionee and the Company with respect to the Options, and this Agreement and
  the Plan supersede all prior and contemporaneous oral and written statements
  and representations and contain the entire agreement between the parties with
  respect to the Options.

  

  	Proper Law. This Agreement will be governed by and construed in
  accordance with the laws of the State of California.

  

  	Notices. Any notice required or permitted to be made or given
  hereunder shall be mailed or delivered personally to the addresses set forth
  below, or as changed from time to time by written notice to the other:

The Company:

  Sun New Media Inc.

  Suite 1200, 777 West Broadway

  Vancouver, British Columbia V5Z 4J7

  Attention: Chief Financial Officer

  With a copy to:

  Clark, Wilson

  Barristers and Solicitors

  Suite 800 - 885 West Georgia Street

  Vancouver, British Columbia V6C 3H1

  Attention: Herbert I. Ono

  The Optionee:

  (fill in name and address)

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

-4-

  	Electronic Means. Delivery of an executed copy of this Agreement by
  electronic facsimile transmission or other means of electronic communication
  capable of producing a printed copy will be deemed to be execution and
  delivery of this Agreement as of the Date of Grant.

IN WITNESS WHEREOF the parties have executed and delivered this Agreement as
of the date first above written.

SUN NEW MEDIA INC.

(FKA SE GLOBAL EQUITIES CORP.)

Per:

Authorized Signatory

	
      SIGNED, SEALED and DELIVERED by

      ______________________ in the presence of:

      

      

      Signature

      

      Print Name

      

      Address

      

      

      Occupation
	
      

      

      

      

      

      

      

      

      

      

      
	
      

      

      

      

      

      (name of Optionee)

      OPTIONEE

THERE MAY NOT BE PRESENTLY AVAILABLE EXEMPTIONS FROM THE REGISTRATION
REQUIREMENTS OF APPLICABLE FEDERAL AND STATE SECURITIES LAWS FOR THE ISSUANCE OF
SHARES OF STOCK UPON EXERCISE OF THESE OPTIONS. ACCORDINGLY, THESE OPTIONS
CANNOT BE EXERCISED UNLESS THESE OPTIONS AND THE SHARES OF STOCK TO BE ISSUED
UPON EXERCISE OF THESE OPTIONS ARE REGISTERED OR AN EXEMPTION FROM SUCH
REGISTRATION REQUIREMENTS IS AVAILABLE.

THE SHARES OF STOCK ISSUED PURSUANT TO THE EXERCISE OF OPTIONS WILL BE
"RESTRICTED SECURITIES" AS DEFINED IN RULE 144 UNDER THE SECURITIES
ACT OF 1933 AND WILL BEAR A LEGEND RESTRICTING RESALE UNLESS THEY ARE REGISTERED
UNDER STATE AND FEDERAL SECURITIES LAWS OR AN EXEMPTION FROM REGISTRATION IS
AVAILABLE. THE COMPANY IS NOT OBLIGATED TO REGISTER THE SHARES OF STOCK OR TO
MAKE AVAILABLE ANY EXEMPTION FROM REGISTRATION.

-5-

EXHIBIT A

Notice of Election to Exercise

To: Fidelity Transfer Company

1800 South West Temple, Suite 301, Salt Lake City, UT, 84115

Attention: Sun New Media Stock Option Plan Registrar and Administration
Assistant"

This Notice of Election to Exercise shall constitute proper notice pursuant
to Section 5.1(h) of the 2001 Stock Option Plan (the "Plan") of Sun
New Media Inc. (fka SE Global Equities Corp.)(the "Company") and
Section 10 of that certain Stock Option Agreement (the "Agreement")
dated as of the _____ day of __________________________, between the Company and
the undersigned.

The undersigned hereby elects to exercise Optionee's option to purchase
shares of the common stock of the Company at a price of US$ _______

per share, for aggregate consideration of US$ __________

, on the terms and conditions set forth in the Agreement and the Plan. Such
aggregate consideration, in the form specified in Section 10 of the Agreement,
accompanies this notice.

The undersigned has executed this Notice this _______day of
__________________, _______.

Signature

Name (typed or printed)

-6-10.1 Share Exchange Agreement with Angela Whichard, Inc.

                            SHARE EXCHANGE AGREEMENT

THIS SHARE EXCHANGE AGREEMENT made as of the 17 th day of November, 2005, by and
between:

ISLAND  RESIDENCES  CLUB,  INC.  with  an  address  at  Box  1518, Williamsburg,
Virginia,  USA  ("IRCI");  and

ANGELA  WHICHARD,  INC., with an address at 3141 John Humphries Wynd, Suite 265,
Raleigh,  North  Carolina,  27612,  ("AWI").

                              W I T N E S S E T H:

WHEREAS,  IRCI  is a Delaware corporation, which has authorized capital stock of
100,000,000  shares of common stock at $.0001 par value ("Shares"), and of those
there  are  currently  issued  12,812,000  shares;

WHEREAS,  AWI  is  a North Carolina corporation, which is the owner of shares in
Grand  Sierra  Resorts  Corp.,  a  Nevada  corporation,  ("GSR");

WHEREAS, IRCI desires to exchange shares in IRCI with AWI in exchange for shares
that  AWI  owns  in  GSR  upon  the  terms and conditions hereinafter set forth;

NOW,  THEREFORE,  in  consideration of the foregoing and of the mutual covenants
and  agreements  contained  in  this  Agreement,  and in order to consummate the
exchange  of  the  shares,  it  is  hereby  agreed,  as  follows:

1.0     Transfer  of  Shares. IRCI authorizes and issues 1,600,000 of its common
        --------------------
shares  to  AWI  in exchange for the transfer by AWI of 400,000 shares of GSR to
IRCI, representing approximately  .5% (approximately 1/2 of 1%) interest in GSR.

1.1  Closing.  The  Closing  of  the  exchange  of these shares shall take place
     -------  upon  three  (3)  days  prior  notice given by either party to the
     other.  At  the  Closing,  IRCI  shall  deliver  to  AWI fully paid for and
     non-assessable  certificates  for  the  1,600,000 shares of IRCI stock duly
     issued  by  IRCI in the name of AWI and AWI shall deliver to IRCI duly paid
     for  and  non-assessable certificate(s) for the 400,000 shares of GSR stock
     duly  and  properly  endorsed  for  transfer  to  IRCI.

1.2  Option.  Subject  to  exact  terms and conditions to be agreed upon by IRCI
     ------  and AWI and to be set out in additional agreements (the "Additional
     Agreements")  to  be  entered into by and between IRCI, AWI and GSR, AWI in
     consideration  for  the  exchange  of the shares as agreed to above, hereby
     gives  and  grants  unto  IRCI  the  right  and  option to acquire from AWI
     additional  shares  in  GSR  which  together  with  the  above  shares will
     represent  up to 51% of the total outstanding shares of GSR. This option is
     subject  to  the  party's  successful  negotiation  and  execution  of  the
     Additional Agreements, on or before December 1, 2005, and if for any reason
     or  no  reason  the  parties fail to successfully negotiate and execute the
     Additional Agreements, on or before December 1, 2005, then this Option will
     expire  on  December  1,  2005.

2.0  Representations and Warranties of IRCI. IRCI hereby represents and warrants
     --------------------------------------
to  AWI  that:

2.1  Authority.  IRCI  has  the  power  and  authority  to  execute  and deliver
     ---------  this  Agreement,  to  perform  its  obligations hereunder and to
     consummate  the  transactions  contemplated hereby. This Agreement has been
     duly  executed  and  delivered,  and  constitutes  a  valid  and  binding
     instrument,  enforceable  in  accordance  with  its  terms.

2.2  Compliance  with  Other  Instruments.  The  execution,  delivery  and
     ------------------------------------  performance  of  this Agreement is in
     compliance  with  and does not conflict with or result in a breach of or in
     violation  of  the  terms,  conditions  or  provisions  of  any  agreement,
     mortgage,  lease  or other instrument or indenture to which IRCI is a party
     or  by  which  IRCI  is  bound.

2.3  Shares in IRCI. The shares to be issued to AWI by IRCI shall be fully paid,
     --------------  non-assessable shares. IRCI shall take all corporate action
     necessary  for  the  issuance  of  the  shares  to  be  legally  valid  and
     irrevocable,  including  obtaining  the  prior  approval  of  the  Board of
     Directors.  IRCI  is  the  legal and beneficial owner of its shares and has
     good  and  marketable  title  thereto, free and clear of any liens, claims,
     rights  and  encumbrances.

3.0 Representations and Warranties of AWI. AWI hereby unconditionally represents
    -------------------------------------
and  warrants  to  IRCI  that:

3.1  Authority.  AWI  has  the  power  and authority to execute and deliver this
     --------- Agreement, to perform his obligations hereunder and to consummate
     the transactions contemplated hereby. This Agreement has been duly executed
     and  delivered  by  AWI  and  constitutes  a  valid and binding instrument,
     enforceable  in  accordance  with  its  terms.

3.2  Title  to  AWI'S  shares  in  GSR. AWI is the legal and beneficial owner of
     ---------------------------- the shares of GSR, and has good and marketable
     title  thereto,  free  and  clear  of  any  liens,  claims,  rights  and
     encumbrances.  AWI has the right to transfer the shares to IRCI pursuant to
     the  terms  of  this  agreement.

3.3  Compliance  with  Other  Instruments.  The  execution,  delivery  and
     ------------------------------------  performance  of  this Agreement is in
     compliance  with  and does not conflict with or result in a breach of or in
     violation  of  the  terms,  conditions  or  provisions  of  any  agreement,
     mortgage, lease or other instrument or indenture to which AWI is a party or
     by  which  AWI  is  bound.

3.4  Rule  144  Restriction.  IRCI  hereby  agrees  that  such  shares  are
     ----------------------  restricted  pursuant  to  Rule  144  and  therefore
     subject  to  Rule  144  resale  requirements,  as  applicable.

4.0  Notices. Notice shall be given by certified mail, return receipt requested,
     -------
the  date  of notice being deemed the date of postmarking. Notice, unless either
party  has  notified  the other of an alternative address as provided hereunder,
shall  be  sent  to  the  address  as  set  forth  hereinabove.

5.0  Governing  Law.  This  Agreement  shall  be  interpreted  and  governed  in
     --------------
accordance  with  the  laws  of  the  State  of  Delaware.

6.0  Severability.  In  the  event  that any term, covenant, condition, or other
     ------------
provision  contained  herein  is  held  to  be  invalid,  void  or  otherwise
unenforceable by any court of competent jurisdiction, the invalidity of any such
term,  covenant,  condition,  provision  or Agreement shall in no way affect any
other  term,  covenant,  condition  or  provision or Agreement contained herein,
which  shall  remain  in  full  force  and  effect.

7.0  Entire  Agreement.  This Agreement contains all of the terms agreed upon by
     -----------------
the  parties  with respect to the subject matter hereof. This Agreement has been
entered  into  after  full  investigation.

8.0 Invalidity.  If any paragraph of this Agreement shall be held or declared to
    ----------
be  void,  invalid  or  illegal,  for  any  reason,  by  any  court of competent
jurisdiction,  such  provision  shall  be  ineffective  but shall not in any way
invalidate  or  effect  any  other  clause,  Paragraph,  section or part of this
Agreement.

9.0 Gender and Number.  Words importing a particular gender mean and include the
    -----------------
other  gender  and words importing a singular number mean and include the plural
number  and  vice  versa,  unless the context clearly indicated to the contrary.

10.0  Amendments.  No amendments or additions to this Agreement shall be binding
      ----------
unless  in writing, signed by both parties, except as herein otherwise provided.

11.0 No Assignments.  Neither party may assign nor delegate any of its rights or
     --------------
obligations  hereunder  without first obtaining the written consent of the other
party.

IN  WITNESS  WHEREOF, and intending to be legally bound, the parties hereto have
signed  this  Agreement by their duly authorized officers the day and year first
above  written.

ISLAND  RESIDENCES  CLUBS,  INC

By:    /s/Bob  Bratajaya
       ------------------
Name:  Bob  Bratajaya
Title: Director

ANGELA  WHICHARD,  INC.

By:    /s/Angela  Whichard
       ------------------------
Name:  Angela  Whichard
Title: Director

                                      PROXY

The  undersigned Island Residences Club, Inc. hereby irrevocably appoints Angela
Whichard,  Inc.  or  any designee of its choice, as the attorneys and proxies of
the undersigned, with full power of substitution, to vote in such manner as each
attorney  and  proxy or his substitute shall in his sole discretion deem proper,
and  otherwise  act  with  respect to the 400,000 shares of Grand Sierra Resorts
Corp.  that  Island Residences Club, Inc. owns in Grand Sierra Resorts Corp. The
said attorney and proxy with respect to such Shares shall be entitled to vote at
any  meeting (whether annual or special and whether or not an adjourned meeting)
all  of such shares as it in its sole discretion deems advisable for any and all
such  matters  as  may  come before any meeting of shareholders, whether for the
election  of  Directors  or otherwise. This proxy is irrevocable for a period of
one  year from the date of execution below, but will expire on the date one year
from  the  date  below. All authority herein conferred or agreed to be conferred
shall  survive the merger, dissolution, or reorganization of the undersigned and
any  obligations  of  the  undersigned  hereunder  shall  be  binding  upon  the
successors  and  assigns  of  the  undersigned.

Island  Residences  Club,  Inc

By:  /s/Bob  Bratajaya
Date  11/17/05
      --------

400,000  shares  of  the  Common  Stock  of  Grand  Sierra  Resort  Corp.

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