Document:

Exhibit
4.1

    

    

    
      Form
of common stock purchase warrant template.

    

    

    THIS
WARRANT AND THE SECURITIES ISSUABLE UPON EXERCISE HEREOF HAVE NOT BEEN
REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"),
OR ANY STATE SECURITIES LAW, AND MAY NOT BE SOLD, TRANSFERRED, PLEDGED,
HYPOTHECATED OR OTHERWISE DISPOSED OF OR EXERCISED UNLESS (i) A REGISTRATION
STATEMENT UNDER THE SECURITIES ACT AND APPLICABLE STATE SECURITIES LAWS SHALL
HAVE BECOME EFFECTIVE WITH REGARD THERETO, OR (ii) AN EXEMPTION FROM
REGISTRATION UNDER THE SECURITIES ACT AND APPLICABLE STATE SECURITIES LAWS IS
AVAILABLE IN CONNECTION WITH SUCH OFFER, SALE OR TRANSFER.

    

    AN
INVESTMENT IN THESE SECURITIES INVOLVES A HIGH DEGREE OF
RISK.  HOLDERS MUST RELY ON THEIR OWN ANALYSIS OF THE INVESTMENT AND
ASSESSMENT OF THE RISKS INVOLVED.

    

    Warrant
to Purchase

    __ Common
Shares

    

    Warrant
to Purchase Restricted Common Stock

    of

    WAYTRONX,
INC.

    (Control
No. WA-08-00__)

    

    THIS
CERTIFIES that __ or any
subsequent holder hereof pursuant to Section 8 hereof ("Holder") has the right
to purchase from WAYTRONX, INC., a Colorado corporation (the "Company"), up to
__ fully paid and nonassessable shares of the Company's restricted common
shares, $0.001 par value per share ("Common Stock") at a price of $_ per share at any time
beginning on the Date of Issuance (defined below) and ending at 5:00 p.m.,
Eastern Standard Time on the date that is three (3) years after the Date
of Issuance (the “Exercise Period”).

    

    Holder
agrees with the Company that this Warrant to Purchase Common Stock of the
Company (this “Warrant”) is issued and all rights hereunder shall be held
subject to all of the conditions, limitations and provisions set forth
herein.

    

    1.           Date of Issuance and
Term.

    

    This
Warrant shall be deemed to be issued on _, 2009 (“Date of
Issuance”).  The term of this Warrant is three (3) years from the Date
of Issuance.

    

    2.           Exercise.

    

    (a) Manner of Exercise.
During the Exercise Period, this Warrant may be
exercised as to all or any lesser number of full shares of Common Stock covered
hereby (the “Warrant Shares”) upon surrender of this Warrant, with the Exercise
Form attached hereto as Exhibit A (the
“Exercise Form”) duly completed and executed, together with the full Exercise
Price (as defined below) for each share of Common Stock as to which this Warrant
is exercised, at the office of the Company, WAYTRONX, INC., 20050 112th Avenue,
Tualatin, Oregon 97062, or at such other office or agency as the Company
may designate in writing, by overnight mail, with an advance copy of the
Exercise Form sent to the Company and its Transfer Agent by facsimile (such
surrender and payment of the Exercise Price hereinafter called the "Exercise of
this Warrant").

    
      
         

      

      
        
        

        
          

        

      

      
         

      

    

    

    (b) Date of
Exercise.  The "Date of Exercise" of the Warrant shall be
defined as the date that the advance copy of the completed and executed Exercise
Form is sent by facsimile to the Company, provided that the original Warrant and
Exercise Form are received by the Company as soon as practicable
thereafter.  Alternatively, the Date of Exercise shall be defined as
the date the original Exercise Form is received by the Company, if Holder has
not sent advance notice by facsimile.

    

    (c) Cancellation of
Warrant.  This Warrant shall be canceled upon the Exercise of
this Warrant, and, as soon as practical after the Date of Exercise, Holder shall
be entitled to receive Common Stock for the number of shares purchased upon such
Exercise of this Warrant, and if this Warrant is not exercised in full, Holder
shall be entitled to receive a new Warrant (containing terms identical to this
Warrant) representing any unexercised portion of this Warrant in addition to
such Common Stock.

    

    (d) Holder of
Record.  Each person in whose name any Warrant for shares of
Common Stock is issued shall, for all purposes, be deemed to be the Holder of
record of such shares on the Date of Exercise of this Warrant, irrespective of
the date of delivery of the Common Stock purchased upon the Exercise of this
Warrant.  Nothing in this Warrant shall be construed as conferring
upon Holder any rights as a stockholder of the Company.

    

    3.           Payment of Warrant Exercise
Price.

    

    Payment
of the Exercise Price shall be made by cash, bank or cashiers check or wire
transfer.

    

    4.    Transfers and
Registration.

    

    (a) Transfer
Rights.  Subject to the provisions of Section 8 of this
Warrant, this Warrant may be transferred on the books of the Company, in whole
or in part, in person or by attorney, upon surrender of this Warrant properly
completed and endorsed.  This Warrant shall be canceled upon such
surrender and, as soon as practicable thereafter, the person to whom such
transfer is made shall be entitled to receive a new Warrant or Warrants as to
the portion of this Warrant transferred, and Holder shall be entitled to receive
a new Warrant as to the portion hereof retained.

    

    (b) Registerable Securities. In
addition to any other registration rights of the Holder, if the Common Stock
issuable upon exercise of this Warrant is not registered for resale at the time
the Company proposes to register (including for this purpose a registration
effected by the Company for stockholders other than the Holders) any of its
Common Stock under the Act (other than a registration relating solely for the
sale of securities to participants in a Company stock plan or a registration on
Form S-4 promulgated under the Act or any successor or similar form registering
stock issuable upon a reclassification, upon a business combination involving an
exchange of securities or upon an exchange offer for securities of the issuer or
another entity)(a “Piggyback Registration Statement”), the Company shall cause
to be included in such Piggyback Registration Statement (“Piggyback
Registration”) all of the Common Stock issuable upon the exercise of this
Warrant (“Registerable Securities”) to the extent such inclusion does not
violate the registration rights of any other security holder of the Company
granted prior to the date hereof.  Nothing herein shall prevent the
Company from withdrawing or abandoning the Piggyback Registration Statement
prior to its effectiveness.

    
      
         

      

      
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    (c)  Limitation on Obligations to
Register under a Piggyback Registration.  In the case of a
Piggyback Registration pursuant to an underwritten public offering by the
Company, if the managing underwriter determines and advises in writing that the
inclusion in the registration statement of all Registerable Securities proposed
to be included would interfere with the successful marketing of the securities
proposed to be registered by the Company, then the number of such Registerable
Securities to be included in the Piggyback Registration Statement, to the extent
such Registerable Securities may be included in such Piggyback Registration
Statement, shall be allocated among all Holders who had requested Piggyback
Registration pursuant to the terms hereof, in the proportion that the number of
Registerable Securities which each such Holder seeks to register bears to the
total number of Registerable Securities sought to be included by all
Holders.  If required by the managing underwriter of such an
underwritten public offering, the Holders shall enter into an agreement, as
determined by the managing underwriter, limiting the number of Registerable
Securities to be included in such Piggyback Registration Statement and the
terms, if any, regarding the future sale of such Registerable
Securities.

    

    5.           Anti-Dilution
Adjustments.

    

    (a)           Stock Dividend.  If
the Company shall at any time declare a dividend payable in shares of Common
Stock, then Holder, upon Exercise of this Warrant after the record date for the
determination of holders of Common Stock entitled to receive such dividend,
shall be entitled to receive upon Exercise of this Warrant, in addition to the
number of shares of Common Stock as to which this Warrant is exercised, such
additional shares of Common Stock as such Holder would have received had this
Warrant been exercised immediately prior to such record date and the Exercise
Price will be proportionately adjusted.

    

    (b)          Recapitalization or
Reclassification.

    

    (i)  Stock
Split.  If the Company shall at any time effect a
recapitalization, reclassification or other similar transaction of such
character that the shares of Common Stock shall be changed into or become
exchangeable for a larger number of
shares (a “Stock Split”), then upon the effective date thereof, the number of
shares of Common Stock which Holder shall be entitled to purchase upon Exercise
of this Warrant shall be increased in direct proportion to the increase in the
number of shares of Common Stock by reason of such recapitalization,
reclassification or similar transaction, and the Exercise Price shall be
proportionally decreased.

    

    (ii)
Reverse Stock
Split.  If the Company shall at any time effect a
recapitalization, reclassification or other similar transaction of such
character that the shares of Common Stock shall be changed into or become
exchangeable for a smaller number of
shares (a “Reverse Stock Split”), then upon the effective date thereof, the
number of shares of Common Stock which Holder shall be entitled to purchase upon
Exercise of this Warrant shall be proportionately decreased and the Exercise
Price shall be proportionally increased.  The Company shall give
Holder the same notice it provides to holders of Common Stock of any transaction
described in this Section 5(b).

    

    (c)           Notice of Consolidation or
Merger.  In the event of a merger, consolidation, exchange of
shares, recapitalization, reorganization, or other similar event, as a result of
which shares of Common Stock shall be changed into the same or a different
number of shares of the same or another class or classes of stock or securities
or other assets of the Company or another entity or there is a sale of all or
substantially all the Company’s assets (a “Corporate Change”), then this Warrant
shall be exercisable into such class and type of securities or other assets as
Holder would have received had Holder exercised this Warrant immediately prior
to such Corporate Change; provided, however, that Company may not affect any
Corporate Change unless it first shall have given thirty (30) days notice to
Holder hereof of any Corporate Change.

    
      
         

      

      
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    (d)           Exercise Price
Adjusted.  As used in this Warrant, the term "Exercise Price"
shall mean the purchase price per share specified in Section 3 of this Warrant,
until the occurrence of an event stated in subsection (a), (b) or (c) of this
Section 5, and thereafter shall mean said price as adjusted from time to time in
accordance with the provisions of said subsection.  No such adjustment
under this Section 5 shall be made unless such adjustment would change the
Exercise Price at the time by $.01 or more; provided, however, that all
adjustments not so made shall be deferred and made when the aggregate thereof
would change the Exercise Price at the time by $.01 or more.

    

    (e)           Adjustments: Additional Shares,
Securities or Assets.  In the event that at any time, as a
result of an adjustment made pursuant to this Section 5, Holder shall, upon
Exercise of this Warrant, become entitled to receive shares and/or other
securities or assets (other than Common Stock) then, wherever appropriate, all
references herein to shares of Common Stock shall be deemed to refer to and
include such shares and/or other securities or assets; and thereafter the number
of such shares and/or other securities or assets shall be subject to adjustment
from time to time in a manner and upon terms as nearly equivalent as practicable
to the provisions of this Section 5.

    

    6.  
         Fractional
Interests.

    

    No
fractional shares or scrip representing fractional shares shall be issuable upon
the Exercise of this Warrant, but on Exercise of this Warrant, Holder may
purchase only a whole number of shares of Common Stock.  If, on
Exercise of this Warrant, Holder would be entitled to a fractional share of
Common Stock or a right to acquire a fractional share of Common Stock, such
fractional share shall be disregarded and the number of shares of Common Stock
issuable upon exercise shall be the next higher number of shares.

    

    7.   
        Reservation of
Shares.

    

    The
Company shall at all times reserve for issuance such number of authorized and
unissued shares of Common Stock (or other securities substituted therefor as
herein above provided) as shall be sufficient for the Exercise of this Warrant
and payment of the Exercise Price.  The Company covenants and agrees
that upon the Exercise of this Warrant, all shares of Common Stock issuable upon
such exercise shall be duly and validly issued, fully paid, nonassessable and
not subject to preemptive rights, rights of first refusal or similar rights of
any person or entity.

    

    8.    
       Restrictions on
Transfer.

    

    (a) Registration or Exemption
Required.  This Warrant has been issued in a transaction exempt
from the registration requirements of the Act by virtue of Regulation D and
exempt from state registration under applicable state laws.  The
Warrant and the Common Stock issuable upon the Exercise of this Warrant may not
be pledged, transferred, sold or assigned except pursuant to an effective
registration statement or unless the Company has received an opinion from the
Company's counsel to the effect that such registration is not required, or the
Holder has furnished to the Company an opinion of the Holder's counsel, which
counsel shall be reasonably satisfactory to the Company, to the effect that such
registration is not required; the transfer complies with any applicable state
securities laws; and, if no registration covering the resale of the Warrant
Shares is effective at the time the Warrant Shares are issued, the Holder
consents to a legend being placed on certificates for the Warrant Shares stating
that the securities have not been registered under the Securities Act and
referring to such restrictions on transferability and sale.

    
      
         

      

      
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    (b) Assignment.  If
Holder can provide the Company with reasonably satisfactory evidence that the
conditions of (a) above regarding registration or exemption have been satisfied,
Holder may sell, transfer, assign, pledge or otherwise dispose of this Warrant,
in whole or in part.  Holder shall deliver a written notice to
Company, substantially in the form of the Assignment attached hereto as Exhibit B, indicating
the person or persons to whom the Warrant shall be assigned and the respective
number of warrants to be assigned to each assignee.  The Company shall
effect the assignment within ten (10) days, and shall deliver to the assignee(s)
designated by Holder a Warrant or Warrants of like tenor and terms for the
appropriate number of shares.

    

    9. 
          Benefits of this
Warrant.

    

    Nothing
in this Warrant shall be construed to confer upon any person other than the
Company and Holder any legal or equitable right, remedy or claim under this
Warrant and this Warrant shall be for the sole and exclusive benefit of the
Company and Holder.

    

    10.           Applicable
Law.

    

    This
Warrant is issued under and shall for all purposes be governed by and construed
in accordance with the laws of the state of Oregon, without giving effect to
conflict of law provisions thereof.

    

    11.           Loss of
Warrant.

    

    Upon
receipt by the Company of evidence of the loss, theft, destruction or mutilation
of this Warrant, and (in the case of loss, theft or destruction) of indemnity or
security reasonably satisfactory to the Company, and upon surrender and
cancellation of this Warrant, if mutilated, the Company shall execute and
deliver a new Warrant of like tenor and date.

    

    12.           Notice or
Demands.

    

    Notices
or demands pursuant to this Warrant to be given or made by Holder to or on the
Company shall be sufficiently given or made if sent by certified or registered
mail, return receipt requested, postage prepaid, and addressed, until another
address is designated in writing by the Company, to the address set forth in
Section 2(a) above.  Notices or demands pursuant to this Warrant to be
given or made by the Company to or on Holder shall be sufficiently given or made
if sent by certified or registered mail, return receipt requested, postage
prepaid, and addressed, to the address of Holder set forth in the Company’s
records, until another address is designated in writing by Holder.

    

    IN
WITNESS WHEREOF, the undersigned has executed this Warrant as of the _____ day
of ______ 2009.

    

    WAYTRONX,
INC.

    

    
      
        	
                By:

              	
                   

              
	 
      	
                William
      J. Clough,

              
	 
      	
                President/CEO

              

      

    

    
      
         

      

      
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    EXHIBIT
A

    

    EXERCISE
FORM FOR WARRANT

    

    TO:   WAYTRONX,
INC.

    

    The
undersigned hereby irrevocably exercises the right to purchase ____________ of
the shares of Common Stock (the “Common Stock”) of WAYTRONX, INC. a Colorado
corporation (the “Company”), evidenced by the attached warrant (the “Warrant”),
and herewith makes payment of the exercise price with respect to such shares in
full, all in accordance with the conditions and provisions of said
Warrant.

    

    1. The
undersigned agrees not to offer, sell, transfer or otherwise dispose of any of
the Common Stock obtained on exercise of the Warrant, except in accordance with
the provisions of Section 8(a) of the Warrant.

    

    2.  The
undersigned requests that stock certificates for such shares be issued and a
warrant representing any unexercised portion hereof be issued, pursuant to the
Warrant in the name of the undersigned and delivered to the undersigned at the
address set forth below:

    

    
      
        
          	
                  Dated:

                	
                     

                	 
	 
      	 
      	 

        

      

    

    
      
        
          
            
              
                
                  
                    
                      	 
      	 
      
	
                              Signature

                            
	 
      	 
      
	 
      	 
      
	
                              Print
      Name

                            
	 
      	 
      
	 
      	 
      
	
                              Address

                            
	 
      	 
      
	 
      	 
      

                    

                  

                

              

            

          

        

      

    

    

    NOTICE

    

    The
signature to the foregoing Exercise Form must correspond to the name as written
upon the face of the attached Warrant in every particular, without alteration or
enlargement or any change whatsoever.

    

    EXHIBIT
B

    

    ASSIGNMENT

    

    (To be
executed by the registered holder desiring
to transfer the Warrant)

    

    FOR VALUE
RECEIVED, the undersigned holder of the attached warrant (the “Warrant”) hereby
sells, assigns and transfers unto the person or persons below named the right to
purchase ______________ shares of the Common Stock of WAYTRONX, INC., evidenced
by the attached Warrant and does hereby irrevocably constitute and appoint
_______________________ attorney to transfer the said Warrant on the books of
the Company, with full power of substitution in the premises.

    
      
         

      

      
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                                    Dated:

                                  	 	 	 
	 
      	 
      	 	
                                    Signature

                                  

                          

                        

                      

                    

                  

                

              

            

          

        

      

    

    

    Fill in
for new registration of Warrant:

    

    
      
        	
                   

              
	
                Name

              

      

    

    

    
      
        	
                  

              
	
                Address

              

      

    

    

    
      
        	
                  

              
	
                Please
      print name and address of assignee

              
	
                (including
      zip code number)

              

      

    

     

      
        

      

    

     

    NOTICE

    

    The
signature to the foregoing Assignment must correspond to the name as written
upon the face of the attached Warrant in every particular, without alteration or
enlargement or any change whatsoever.

    
       

      
        

      

    

    
      
         

      

      
        Page 7 of
7CONSULTING
AGREEMENT

     

    THIS AGREEMENT made effective
this 1st day
of July, 2008.

     

    BETWEEN:

     

    North
American Minerals Group Inc.

     

    (Hereinafter
the “Corporation”)

     

     OF THE FIRST PART

     

     -and-

     

     Amihay Lapid

     

     (Hereinafter
the “Consultant”)

     

    OF
THE SECOND PART

     

     WHEREAS:

     

    1.             The
Corporation is a duly incorporated Company in the Province(s) of
Alberta;

     

    2.             The
Corporation is desirous of obtaining the services of the Consultant for
management and consulting services on the corporate affairs of the Corporation;
and

     

    3.             The
Corporation wishes to retain the services of the Consultant and compensate it
accordingly.

     

     NOW THEREFORE THIS AGREEMENT
WITNESSETH that in consideration of the premises and of the mutual
covenants herein contained, the parties hereto covenant and agree as
follows:

     

    For good
consideration, the Corporation hereby agrees to engage and retain the Consultant
to perform the services hereinafter defined and the Consultant hereby accepts
such retainer to perform the services hereinafter defined on the terms and
conditions set forth herein.

     

    1. Term of Consulting. Subject
to the provisions for termination set forth below, the term of this Agreement
shall extend from July 1st, 2008,
for a period of 36 months ending June 30th, 2011
(the “Term”). 
Following the end of the Term, the parties hereto may mutually agree to any
renewals of this Agreement for a time period to be discussed.

    
      
         

      

      
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    2. Compensation. The
Corporation shall compensate the Consultant as follows with provision for
quarterly increases as required and agreed upon by both parties:

     

    a)
        The Corporation shall pay the
Consultant a monthly fee of $5,000 USD; and

     

    b)        
The Corporation agrees to reimburse the Consultant for all reasonable expenses
incurred by it in the provision of its services to the Corporation, provided
such expenses have been approved by the Corporation in advance. Such payments
shall be made promptly upon receipt by the Corporation of an invoice for such
expenses.

     

    c) 
       Taxes:  The Company shall pay the
Consultant on a gross net basis and the Consultant shall be responsible for all
Federal taxes, Provincial taxes, Workers Compensation, Unemployment Insurance,
Canadian Pension Plan and any other regulated charges or taxes that may
apply. 

     

    3. Duties and Position. The
Corporation hires the Consultant in the capacity of Corporate Secretary and
System Administrator and avails itself to take advantage of services offered by
the Consultant that may include any or all services, and which involves the
services required for the development of existing and future projects for the
benefit of the Corporation.

     

    4. Consultant to
Devote Time to Corporation. The Consultant will provide a minimum
of 100 hours per month of corporate system administration
services. These services
will be available to the Corporation at the Corporation’s discretion, and will
be compensated as per Section 2:
Compensation of this
Agreement.  In the event that the Consultant is providing in excess of the
Minimum Hours, above, then the Corporation and the Consultant will review the
Compensation, as set out in Section
2 of
this Agreement

     

    5. Confidentiality. Except as
directed by the Corporation, required by law or required in the course of
providing the services described herein, the Consultant shall not, either during
the term of this Agreement or at any time thereafter, use, supply, show or
disclose to any person, firm or corporation any secret of proprietary
information, knowledge or data concerning the business, affairs, product or
prospects of the Corporation which the Consultant may have acquired at any time
prior to this agreement, in the course of or incidental to this Agreement or
otherwise, for the Consultant’s own benefit, or to the detriment, or intended of
probable detriment, of the Corporation. Should the Consultant reveal or threaten
to reveal this information, the Corporation shall be entitled to an injunction
restraining the Consultant from disclosing same, or from rendering any services
to any entity to whom said information has been or is threatened to be
disclosed, the right to secure an injunction is not exclusive, and the
Corporation may pursue any other remedies it has against the Consultant for a
breach or threatened breach of this condition, including the recovery of damages
from the Consultant.

    
      
         

      

      
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    6. Termination of Agreement.
If either party breaches any provisions, condition or covenants of this
Agreement, the other party shall have the right, without prejudice to any other
rights it may have under the circumstances, to terminate this Agreement by
giving the breaching party thirty (30) days written notice of such termination,
specifying therein the grounds upon which said notice is based; and, provided
that if such breach or default can be remedied and if the breaching party within
said thirty day period shall in fact remedy or cure the breach or default, then
such notice shall not become effective and this Agreement shall remain in force
and effect. Notwithstanding anything to the contrary contained in this
agreement, the Corporation may terminate the Consultant agreement upon 30 days'
notice to the Consultant should any of the following events occur:

     

    (a) The sale of substantially
all of the Corporation's assets to a single purchaser or group of associated
purchasers; or

     

    (b) The sale, exchange, or
other disposition, in one transaction of the majority of the Corporation's
outstanding corporate shares; or

     

    (c) The Corporation's decision
to terminate its business and liquidate its assets; or

     

    (d) The merger or
consolidation of the Corporation with another company; or

     

    (e) Bankruptcy or Bankruptcy
reorganization.

     

    (f)  Shareholders or
Board of Directors decision to terminate the Consultant agreement for any
reason.

     

    7. Notices.  All notices,
communications, statements and invoices (hereinafter called “Notices”) required or
permitted hereunder shall be in writing. Notices may be served:

     

    (a) Personally by leaving them
with the party on whom they are to be served at that party’s address hereinafter
given.  Personally served Notices shall be deemed received by the addressee
when actually delivered, provided such delivery shall be during normal business
hours; or

     

     (b) By mailing them by first
class, registered post, postage prepaid, to the party on whom they are to be
served.  Notices so served shall be deemed to be received by the addressee
on the fourth day (excluding as the fourth day Saturdays, Sundays, and statutory
holidays) following the mailing thereof.

     

    The
address of each of the respective parties hereto for service of Notices shall be
as follows:

     

    NORTH
AMERICAN MINERALS GROUP INC

     

    110 Wall
Street 11th Floor

     

    New York,
NY 10005

     

    Tel.
212-742-1968

    
      
         

      

      
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    MR.
AMIHAY LAPID

     

    6613 Fort
Hamilton Parkway # 4B

     

    Brooklyn,
NY 11219

     

    Tel. 646
361-3337

     

    8. Assistance in Litigation.
Consultant shall upon reasonable notice, furnish such information and proper
assistance to the Corporation as it may reasonably require in connection with
any litigation in which it is, or may become, a party either during or after
this agreement.

     

    9. Entire Agreement. 
This Agreement and any Schedules attached hereto, constitute and express the
whole agreement of the parties hereto with reference to the engagement and
retainer of the Consultant by the Corporation and with reference to any of the
matters and things herein provided for or hereinbefore discussed or mentioned
with reference to such engagement and retainer, all promises, representations
and undertakings relative thereto being hereby merged herein.

     

    10. Effect of Prior
Agreements. This Agreement supersedes any prior agreement between the
Corporation or any predecessor of the Corporation and the Consultant, except
that this agreement shall not affect or operate to reduce any benefit or
compensation inuring to the Consultant of a kind elsewhere provided and not
expressly provided in this agreement.

     

    11. Settlement by Arbitration.
Any claim or controversy that arises out of or relates to this agreement, or the
breach of it, shall be settled by arbitration in accordance with the rules of
the Canadian Arbitration Association. Judgment upon the award rendered may be
entered in any court with jurisdiction.

     

    12. Severability. If, for any
reason, any provision of this agreement is held invalid, all other provisions of
this agreement shall remain in effect. If this agreement is held invalid or
cannot be enforced, then to the full extent permitted by law any prior agreement
between the Corporation (or any predecessor thereof) and the Consultant shall be
deemed reinstated as if this agreement had not been executed.

     

    13. Consents and Waivers.  No consent or waiver,
express or implied, by any party hereto to or of any breach or default by any
other party hereto in the performance of any obligations hereunder shall be
deemed or construed to be a consent or waiver to or of any other breach or
default in the performance by such other party of the same or any other
obligation or such party hereunder.  Failure on the part of any party to
complain of any act or failure to act of any other party or to declare any party
to be in breach or default, irrespective of how long such failure continues,
shall not constitute a waiver by such party of his or its rights
hereunder.

     

    14. Applicable Law.  This
Agreement shall be governed by and construed in accordance with the laws of the
Province of Alberta and each of the parties hereto agrees to attorn to the
jurisdiction of the courts of Alberta for any dispute arising out of or in
connection with this Agreement.

    
      
         

      

      
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    15. Enurement.  This
Agreement shall enure to the benefit of and be binding upon the parties hereto
and their respective heirs, executors, administrators, successors and
assigns.

     

    16. Time.  Time is of the
essence of this Agreement.

     

    17. Regulatory
Approvals.  The engagement of the Consultant may be subject to
regulatory approval.  The Corporation agrees to diligently pursue any and
all regulatory approvals necessary for the engagement of the Consultant and
shall provide the Consultant with Copies of such approvals upon receipt of
same.

     

    18. Oral Modifications Not
Binding. This instrument is the entire agreement of the Corporation and
the Consultant. Oral changes have no effect. It may be altered only by a written
agreement signed by the party against whom enforcement of any waiver, change,
modification, extension, or discharge is sought.

     

    Signed
this 1st day of
July, 2008

     

    
      
        
          
            	
                    /s/
      Peter Leger 

                  	 
      	
                    /s/
      Amihay Lapid

                  
	
                    Peter
      Leger

                  	 
      	
                    Amihay
      Lapid, Consultant

                  
	
                    President
      & CEO

                  	 
      	 
      
	
                    North
      American Minerals Group Inc.

                  	 
      	 
      

          

        

      

    

     

    
      
         

      

      
        5

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