Document:

Aberdene Mines Limited Exhibit 10.33

Exhibit 10.33

	
Number of Shares: 700,000
	
Date of Grant: November 29, 2004

NONQUALIFIED STOCK OPTION AGREEMENT 

AGREEMENT made this 29th day of November, 2004, between CAMERON REYNOLDS (the "Optionee"), and ABERDENE MINES LIMITED, a Nevada corporation (the "Company").

	Grant of Option.  The Company, pursuant to the provisions of the 2004 ABERDENE MINES LIMITED Nonqualified Stock Option Plan (the "2004 Plan"), set forth as Attachment A hereto, hereby grants to the Optionee, subject to the terms and conditions set forth or incorporated herein, an Option and Purchase from the Company all or any part of an aggregate of 700,000 Common Shares, as such Common Shares are now constituted, at the purchase price of $0.50 per share.  The provisions of the 2004 Plan governing the terms and conditions of the Option granted hereby are incorporated in full herein by reference. 

	Exercise.  The Option evidenced hereby shall be exercisable in whole or in part (but only in multiples of 100 Shares unless such exercise is as to the remaining balance of this Option) on or after November 29, 2004 and on or before November 29, 2009.  The Option evidenced hereby shall be exercisable by the deliver to and receipt by the Company of (i) a written notice of election to exercise, in the form set forth in Attachment B hereto, specifying the number of shares to be purchased; (ii) accompanied by payment of the full purchase price thereof in case or certified check payable to the order of the Company, or by fully-paid and non-assessable Common Shares of the Company properly endorsed over to the Company, or by a combination thereof; and, (iii) by return of this Stock Option Agreement for endorsement of exercise by the Company on Schedule I hereof.  In the event fully paid and non-assessable Common Shares are submitted as whole or partial payment for Shares to be purchased hereunder, such Common Shares will be valued at their Fair Market Value (as defined in the 2004 Plan) on the date such Shares are received by the Company and applied to payment of the exercise price. 

	Transferability.  The Option evidenced hereby is NOT assignable or transferable by the Optionee other than by the Optionee's will, by the laws of descent and distribution, as provided in paragraph 9 of Article V of the 2004 Plan.  The Option shall be exercisable only by the Optionee during his lifetime. 

ABERDENE MINES LIMITED 

	 	
BY: 
	
/s/ Brent Jardine

	 	 	
Brent Jardine, President  

ATTEST: 

/s/ Timothy Hipsher

Secretary 

-1-

Optionee hereby acknowledges receipt of a copy of the 2004 Plan, attached hereto and accepts this Option subject to each and every term and provision of such Plan.  Optionee hereby agrees to accept as binding,  conclusive and final, all decisions or interpretations of the Compensation Committee of the Board of Directors administering the 2004 Plan on any questions arising under such Plan.  Optionee recognizes that if Optionee's employment with the Company or any subsidiary thereof shall be terminated with cause, or by the Optionee, all of the Optionee's rights hereunder shall thereupon terminate; and that, pursuant to paragraph 10 of Article V of the 2004 Plan, this Option may not be exercised while there is outstanding to Optionee any unexercised Stock Option, granted to Optionee before the date of grant of this Option, to purchase Common Shares of the Company or any parent or subsidiary thereof.  

Dated: _________________________________  

		
/s/ Cameron Reynolds

Optionee 

		
		
Cameron John Reynolds

Type or Print Name 

		

		
London, U.K.

Address 

		

		
N/A 

Social Security No.

 

 

 

 

 

 

-2-

Attachment B 

Date:

Secretary, 

ABERDENE MINES LIMITED 

101 Convention Center

Suite 700

Las Vegas NV 89109

Dear Sir: 

In accordance with paragraph 2 of the Nonqualified Stock Option Agreement evidencing the Option granted to me on _____________________ under the 2004 ABERDENE MINES LIMITED Nonqualified Stock Option Plan, I hereby elect to exercise this Option to the extent of __________________ Common Shares. 

Enclosed are (i) Certificate(s) No.(s) ____________________ representing fully-paid common shares of ABERDENE MINES LIMITED endorsed to the Company with signature guaranteed, and/or a certified check payable to the order of ABERDENE MINES LIMITED in the amount of $_______________ as the balance of the purchase price of $______________ for the Shares which I have elected to purchase and (ii) the original Stock Option Agreement for endorsement by the Company as to exercise on Schedule I thereof.  I acknowledge that the Common Shares (if any) submitted as part payment for the exercise price due hereunder will be valued by the Company at their Fair Market Value (as defined in the 2004 Plan) on the date this Option exercise is effected by the Company.  In the event I hereafter sell any Common Shares issued pursuant to this option exercise within one year from the date of exercise or within two years after the date of grant of this Option, I agree to notify the Company promptly of the amount of taxable compensation realized by me by reason of such sale for federal income tax purposes. 

When the certificate for Common Shares which I have elected to purchase has been issued, please deliver it to me, along with my endorsed Stock Option Agreement in the event there remains an unexercised balance of Shares under the Option, at the following address:

Include Optionee's address here.

	 	
/s/ Cameron Reynolds

	 	
Signature of Optionee 

	 	 
	 	____________________________
	 	
Type or Print Name 

 

 

 

 

 

 

 

-3-LETTER OF UNDERSTANDING - JANUARY, 24, 2005

     EAPI  ENTERTAINMENT,  INC.  (Name  to  be  changed  to  Organic  Recycling
     Technologies, Inc.)

     Known as (the "Purchaser");

     And

     ORGANIC MATERIALS, LLC AN LLC OF NEW YORK

     Known as (the "Seller");

The  parties  above  agree  that  the Purchaser will purchase certain assets and
certain  contracts  of  the  Seller  and  they  jointly  agree to the following:

A.   The Purchaser and Seller agree that they are entering into a letter of
     understanding in which the Purchaser will purchase certain physical assets
     and certain multi-year waste contracts for hauling solid waste from the
     Seller;

B.   The Purchaser will use these acquired assets to build a trucking fleet
     supporting its expansion and projects in the Organic and Solid Waste
     businesses in the New York area supported by its various organic recycling
     and waste management technologies;

C.   The Purchaser and the Seller anticipates this purchase will generate in
     excess of US$2 million in revenue for the Company in the first operating
     year expanding to over US$5 million in 3 years;

D.   The Purchaser agrees to acquire from the Seller the following Physical
     Equipment:

                                                                               1
<PAGE>

     1)   Grinder - 2002 Morbark Model 4600 Wood Hog , processing up to 300 CY
          per hour, including leaves, grass clippings, manure, straw, tree
          stumps and logs. Value US$195,000.00.

     2)   Tractors - Five (5) 2001 Western Star Tractors geared and powered for
          off-road conditions similar to landfills, tree clearing sites, farm
          fields and garden center yards. Each tractor US$60,000, total value
          US$300,000.00

     3)   Tractors - One (1) 1995 Western Star Tractors geared and powered for
          off-road conditions similar to landfills, tree clearing sites, farm
          fields and garden center yards. Value US$20,000.00.

     4)   Trailers - Five (5) 2003 East including One (1) East Walking floor
          trailer. All designed for hauling bulk commodities such as mulch,
          compost and waste. Each trailer value US$37,000, total value
          US$185,000.00.

     5)   Dump Trailer - One (1) dump trailer suited for biosolids, soil,
          compost, waste and aggregate. Value US$30,000.00.

     6)   Caterpillar - 970 Caterpillar Bucket Loader equipped with a 7 CY
          bucket, designed for bulk items such as soil, compost, yard and solid
          waste, etc. Value US$90,000.00.

     Total  Net  Value  of  Equipment,  less  the  outstanding  equipment  loans
     and  liabilities  directly  associated  with  equipment  purchase  of
     US$481,718.00, to be purchased is US$338,282.00.

E.   The Purchaser agrees to acquire the following multi-year waste contracts
     for hauling solid waste:

     1)   Existing,  three year contract, with two years remaining, with Cassela
          Waste  Management  hauling  Solid  Waste  from  Hiram  Hollow Transfer
          station  in  Moreau,  New  York  to  numerous  permitted  disposal
          destinations.  The  Contract fee includes adjustments for increases in
          fuel,  insurance  and other items. Contract Revenue exceeds US$430,000
          per year. Contract Value US$238,046.00.

     2)   New,  three  year contract with Cassela Waste Management hauling Solid
          Waste  from  Hiram  Hollow  Transfer  station  in  Moreau, New York to
          numerous  permitted  disposal  destinations. The Contract fee includes
          adjustments  for  increases  in  fuel,  insurance  and  other  items.
          Contract  Revenue  exceeds  $675,000  per  year.  Contract  Value
          US$534,768.00.

     Total Net Value of multi-year waste contracts US$772,814.00

F.   The Seller represents to the Purchaser that the issuer of the contracts,
     Cassela Waste Management, agrees to the assignment of these contracts to
     the Purchaser.

                                                                               2
<PAGE>
G.   The Purchaser and the Seller agree that the total purchase price is
     US$1,120,000.

H.   The Purchaser will issue a convertible debenture in the amount of
     US$1,120,000 to the Seller for the Purchase Price.

I.   The Convertible Debenture has the following terms:

     1)   Principal Sum of US$1,120,000.00;
     2)   Interest of 7% payable at time of conversion;
     3)   Term 1 year;
     4)   Convertible and payable in cash at the following dates:
          i)  US$100,000  plus  accrued  interest  on  the  US$100,000  in  3
              months;
          ii) US$200,000  plus  accrued  interest  on  the  US$200,000  in  6
              months;
          iii)US$300,000  plus  accrued  interest  on  the  US$300,000  in  9
              months;
          iv) US$400,000  plus  accrued  interest  on  the  US$400,000  in  12
              months.

          If  any  of  the  payments  are  not  made  on  the  above dates a 10%
          penalty  is added and the next payment includes unpaid amount, the new
          payment,  the  penalty  and  the  accrued interest as the total amount
          payable.
     5)   In  addition  to  the  amounts  payable  in  items  4  above,  at  the
          Purchasers  option,  any amount of the debenture plus accrued interest
          can be paid at any time until the expiration of the 1 year term;
     6)   At  the end of the 1 year term the outstanding amount of the debenture
          plus  all  accrued  interest  and penalties is convertible into common
          shares  of  Organic Recycling Technologies Inc. The common shares will
          be  issued  at  the previous three-day average market value less a 15%
          discount.  The  issued  common  shares  will then be registered by the
          Company  with  a  registration statement allowing the common shares to
          be traded without restriction;
     7)   If  the  Convertible  Debenture is paid in cash in full prior to the 1
          year  term,  the  holders of the debenture will receive a bonus of 10%
          of  the  debenture  ($112,000)  in  common shares of Organic Recycling
          Technologies  Inc.  issued  at  the  previous three day average market
          value less a 10% discount.

J.   The principals of the Seller will remain as guarantors on the outstanding
     debt's of the equipment. The Purchaser has agreed to pay a bonus to each
     of the two Guarantors that guarantee the outstanding debt's, 25,000 common
     shares each (50,000 total) of Organic Recycling Technologies Inc. These
     shares will be issued as 144 restricted common shares. If the Company does
     a registration statement these shares will be registered.

K.   The Seller agrees that with the funds received from the Purchase Price they
     will repay the outstanding liabilities of US$481,718.00.

                                                                               3
<PAGE>
REQUIREMENTS:

     A)   Asset  purchase  agreement  with  Organic  Materials,  LLC and Organic
          Recycling  Technologies  Inc.  (Name  to  be  changed  from  EAPI
          Entertainment, Inc.);

     B)   Convertible  debenture  agreement  for  US$1,120,000  for the Purchase
          Price;

     C)   Issuance of common Shares for the $50,000 Guarantee fee;

     D)   Board  meeting  of  all  the  Directors  of  the Company reviewing and
          approving the Asset purchase agreement;

     E)   Review  and  approval  of implementation with the Management executive
          committee;

F)   Prepare new release and disclosure documents as required;

IN WITNESS WEREOF the parties have agreed to the above letter of understanding
on the day and year first above written.

Agreed to by Organic Materials, LLC,

/s/ Ralph Petruzzo
---------------------------------
Authorized signature

January 24, 2005
---------------------------------
Date

Agreed to by EAPI Entertainment, Inc. (Name to be changed to Organic Recycling
Technologies, Inc.):

/s/ Chad Burback
---------------------------------
Authorized Signature

January 24, 2005
---------------------------------
Date

                                                                               4
<PAGE>

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