Document:

Filed by Automated Filing Services Inc. (604)609-0244 - Aqua Society, Inc. - Exhibit 10.3

DIRECTOR / OFFICER NON-QUALIFIED STOCK OPTION AGREEMENT OF

AQUA SOCIETY, INC.
A Nevada Corporation

THIS AGREEMENT is made between AQUA SOCIETY, INC., a
Nevada corporation (hereinafter referred to as the "Company"), and HUGO J.A.
VAN DER ZEE of Konrad-Adenauer Strasse, 9-13 Herten, Germany D-45699
(hereinafter referred to as the “Optionee”), a director or officer of the
Company, or a director or officer of the Company’s subsidiary, effective as of
the 21st day of December, 2006.

1. Option Granted

The Company hereby grants the Optionee non-qualified stock options
to purchase Two Million (2,000,000) shares of the Company’s Common Stock
at a purchase price of $0.40 US per share for a term commencing on the vesting
dates set out below (the “Vesting Date”) and expiring at 5:00 pm (Pacific Time)
on the expiration dates set out below (the “Expiration Date”), subject to
termination as set forth herein. 

The options will vest on the following schedule:

	Number of Options to Vest 	Vesting Date 	Expiration Date 
	250,000 	April 1, 2007 	April 1, 2009 
	250,000 	July 1, 2007 	July 1, 2009 
	250,000 	October 1, 2007 	October 1, 2009 
	250,000 	January 1, 2008 	January 1, 2010 
	250,000 	April 1, 2008 	April 1, 2010 
	250,000 	July 1, 2008 	July 1, 2010 
	250,000 	October 1, 2008 	October 1, 2010 
	250,000 	January 1, 2009 	January 1, 2011 

No option may be exercised unless the option has vested. The
vesting of all options will be cumulative. All options which have not vested
will terminate on the date of termination of the options in accordance with this
Agreement.

2. Time of Exercise of Option

The Optionee may exercise the options granted herein at any time
after the Vesting Date for such options until the date of termination of the
options set forth in Section 7 herein.

3. Method of Exercise

The options granted herein shall be exercised by written notice
delivered to the Company at its principal place of business, stating the number
of shares for which the options are being exercised. The notice must be
accompanied by a check or other methods of payment acceptable to the Plan
Administrator for the amount of the purchase price, and comply with all the
requirements of the Company’s 2006 Stock Option Plan dated May 5, 2006, as
approved by the Board of Directors of the Company on May 5, 2006, a copy of
which has been provided to the Optionee.

4. Capital Adjustments

The existence of the options granted herein shall not affect in
any way the right or power of the Company or its stockholders to: (1) make or
authorize any or all adjustments, recapitalizations, reorganizations, or other
changes in the Company's capital structure or its business; (2) enter into any
merger or consolidation; (3) issue any bonds, debentures, preferred or prior
preference stocks ahead of or affecting the common stock or the rights thereof,
(4) issue any securities convertible into any common stock, (5) issue any
rights, options, or warrants to purchase any common stock, (6) dissolve or
liquidate the Company, (7) sell or transfer all or any part of its 

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assets or business, or (8) take any other corporate act or
proceedings, whether of a similar character or otherwise.

5. Reorganization, Merger, Amalgamation and
Consolidation

If there shall, prior to the exercise of any of the options
provided for by this Agreement, be any reorganization of the authorized capital
of the Company by way of consolidation, merger, subdivision, amalgamation or
otherwise, or the payment of any stock dividends, then there shall automatically
be an adjustment in either or both of the number of shares which may be
purchased pursuant hereto or the price at which such shares may be purchased so
that the rights evidenced hereby shall thereafter as reasonably as possible be
equivalent to those originally granted hereby. The Company shall have the sole
and exclusive power to make such adjustments as it considers necessary and
desirable.

In the event of a complete liquidation of the Company or a merger,
reorganization, or consolidation of the Company with any other corporation in
which the Company is not the surviving corporation, or the Company becomes a
wholly-owned subsidiary of another corporation, any unexercised options granted
under this Agreement shall be deemed cancelled unless the surviving corporation
in any such merger, reorganization, or consolidation elects to assume the
options under this Agreement or to issue substitute options in place thereof;
provided, however, that notwithstanding the foregoing, if such options would be
cancelled in accordance with the foregoing, the Optionee shall have the right
exercisable during a ten-day period ending on the fifth day prior to such
liquidation, merger, or consolidation to exercise such option in whole or in
part without regard to any installment exercise provisions in this
Agreement.

6. Transfer of this Option

During the Optionee's lifetime, the options granted herein shall
be exercisable only by the Optionee. The options shall not be transferable by
the Optionee other than by the laws of descent and distribution upon the
Optionee's death. In the event of the Optionee's death during the term of this
Agreement, the Optionee's personal representatives may exercise any portion of
the options granted herein that remain vested and unexercised at the time of the
Optionee's death, provided that any such exercise must be made, if at all,
during the period within six (6) months after the Optionee's death, and subject
to the option termination date specified in Paragraph 7(d) below.

7. Termination of Option

This Agreement and the Optionee's right to exercise any options
shall terminate on the earliest of the following dates:

	 	(a) 	The Expiration Date; 
	 	 	 
	 	(b) 	Subject to subsection (c) below, the date which is 30 days from the
      later of the dates on which: (i) the Optionee ceases to act as a director
      or officer of the Company or any subsidiary of the Company; (ii) the
      Optionee ceases to be engaged as a consultant of the Company or any
      subsidiary of the Company; or (iii) the Optionee ceases to be an employee
      of the Company or any subsidiary of the Company. For the purposes of this
      subsection, the Optionee will be deemed not to have ceased to act as an
      employee, officer, director or consultant (the “Original Position”) of the
      Company or a subsidiary of the Company if the Optionee continues to act as
      an employee, officer, director or consultant of the Company or a
      subsidiary of the Company in some other capacity immediately upon ceasing
      to act in the Original Position; 
	 	 	 
	 	(c) 	In the event of the termination of the Optionee as a director,
      officer, employee or consultant as a result of a breach of the Optionee’s
      obligations to the Company or any subsidiary of the Company, or as a
      result of any dishonesty, fraud, misconduct, the unauthorized use or
      disclosure of confidential information or trade secrets, or conviction or
      confession of a crime punishable by law (except minor violations) (each of
      which being a termination for “Cause”), the 

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	 		earliest date on which the Optionee is terminated as a director,
      officer, employee or consultant; or 
	 	 	 
	 	(d) 	The date which is six (6) months from the date of the Optionee's death
      or the date the Optionee is determined by the Company to be unable to
      perform his or her duties as an employee, director, officer or consultant
      of the Company or a subsidiary of the Company as a result of any mental or
      physical disability that is expected to result in death or that is
      expected to last for a continuous period of 12 months or more.
  

Notwithstanding the foregoing, if the Optionee dies after he
ceases to be an employee, director, officer or consultant of the Company for
reasons other than a termination for Cause or for disability determined in
accordance with subsection (d) above, the Optionee’s rights to exercise any
options granted herein shall terminate on the earliest of the Expiration Date
and the date which is six (6) months after the date of death.

8. Rights as Shareholder

The Optionee will not be deemed to be a holder of any shares
pursuant to the exercise of this option until he or she pays the option price
and a stock certificate is delivered to him or her for those shares. No
adjustment shall be made for dividends or other rights for which the record date
is prior to the date the stock certificate is delivered.

9. Integration with the Company’s 2006 Stock Option
Plan

All of the terms and conditions of the Company’s 2006 Stock Option
Plan, a copy of which has been provided to the Optionee, are specifically made a
part of this Agreement and shall control with regard to the interpretation or
construction of any provision that is inconsistent herewith. This Agreement will
be governed by and construed in accordance with the laws of the State of
Nevada.

IN WITNESS WHEREOF, the parties hereto have executed this
Agreement as of the 21st day of December, 2006.

AQUA SOCIETY, INC. by its authorized signatory:

/s/ Robert
Terberg                                                              
ROBERT
TERBERG, PRESIDENT & CEO

OPTIONEE:

/s/ Hugo J.A. Van Der
Zee                                                
SIGNATURE
OF DIRECTOR / OFFICER

HUGO J.A. VAN DER
ZEE                                              
NAME
OF DIRECTOR / OFFICER

KONRAD-ADENAUER STRASSE, 9-13                       

  ADDRESS

HERTEN, GERMANY D-45699                                       

  

2,000,000                                                                          
NUMBER
OF OPTIONSFiled by Automated Filing Services Inc. (604) 609-0244 - Medicure Inc.

Medicure Inc.
Item - 18 Reconciliation with United
States Generally Accepted Accounting Principles 
Years Ended May 31,
2006 and 2005
Three months ended August 31, 2006 and 2005
(Unaudited)
(expressed in Canadian dollars) 

     Medicure Inc. (the “Corporation”)
follows generally accepted accounting principles in Canada (“Canadian GAAP”) in
the preparation of its consolidated financial statements, which principles are
different in some respects from those applicable in the United States (U.S.GAAP)
and from practices prescribed by the United States Securities and Exchange
Commission. The Corporation has prepared a reconciliation of the significant
measurement differences between Canadian GAAP and U.S. GAAP in accordance with
Item 17 of Form 20-F, which, for the years ended May 31, 2006 and 2005 is
included in the Corporation’s 2006 consolidated financial statements in its
Annual Report on Form 20-F and for the three months ended August 31, 2006 and
2005 is included in the Corporation’s fiscal 2007 first quarter consolidated
financial statements included in its periodic report on Form 6-K. For purposes
of this registration statement on Form F-10, the Corporation is also required to
reconcile additional significant disclosure differences in accordance with Item
18 of Form 20-F. The additional significant disclosure differences between
Canadian GAAP and U.S. GAAP are set out below.

The financial information set out below as at August 31, 2006
and for the three months ended August 31, 2006 and 2005 is unaudited; however,
such information reflects all adjustments, consisting only of normal recurring
adjustments, necessary for a fair presentation of the financial information for
the periods presented.

	(a) 	
      Accounts Payable and Accrued
  Liabilities:

	             As at: 	 	August 31, 	 	 	May 31, 	 	 	May 31, 	 	 	May 31, 	 
	  	 	2006 	 	 	2006 	 	 	2005 	 	 	2004 	 
		 	(Unaudited)	 	 	 	 	 	 	 	 	 	 
	  	 	  	 	 	  	 	 	  	 	 	  	 
	Trade and other accounts payable 	 	  	 	 	  	 	 	  	 	 	  	 
	     and accrued liabilities
    	$	 1,124,446 	 	$	 634,164 	 	$	 275,624 	 	$	 160,260 	 
	Accounts payable related to research 	 	  	 	 	  	 	 	  	 	 	  	 
	     and development 	 	1,533,396 	 	 	1,010,175 	 	 	2,457,130 	 	 	657,316 	 
	  	$	 2,657,842 	 	$	 1,644,339 	 	$	 2,732,754 	 	$	 817,576 	 

	(b) 	
      Accounts Receivable

	             As
      at 	 	August 31, 	 	 	May 31, 	 	 	May 31, 	 	 	May 31, 	 
	  	 	2006 	 	 	2006 	 	 	2005 	 	 	2004 	 
		 	(Unaudited)	 	 	 	 	 	 	 	 	 	 
	  	 	  	 	 	  	 	 	  	 	 	  	 
	Trade accounts receivable 	$	 277,252 	 	$	 – 	 	$	 – 	 	$	 – 	 
	Interest receivable 	 	242,607 	 	 	189,936 	 	 	97,917 	 	 	234,009 	 
	SR&ED refundable tax credit receivable
    	 	237,000 	 	 	237,000 	 	 	341,887 	 	 	– 	 
	GST receivable 	 	36,882 	 	 	17,895 	 	 	28,389 	 	 	16,924 	 
	Other 	 	2,032 	 	 	13,593 	 	 	1,557 	 	 	27,164 	 
	  	$	 795,773 	 	$	 458,424 	 	$	 469,750 	 	$	 278,097 	 

	(c) 	
      Contributed Surplus:

	Period ended 	 	August 31, 	 	 	May 31, 	 	 	May 31, 	 	 	May 31, 	 
	  	 	2006 	 	 	2006 	 	 	2005 	 	 	2004 	 
		 	(Unaudited)	 	 	 	 	 	 	 	 	 	 
	  	 	  	 	 	  	 	 	  	 	 	  	 
	Balance, beginning of period 	$	 2,070,670 	 	$	996,301 	 	$	 491,423 	 	$	 105,375 	 
	  	 	  	 	 	  	 	 	  	 	 	  	 
	Stock-based compensation on options granted
      in 	 	  	 	 	  	 	 	  	 	 	  	 
	    the period 	 	184,813 	 	 	1,227,558 	 	 	504,878 	 	 	368,048 	 
	Transfer to capital stock 	 	(12,318	) 	 	(153,189	) 	 	– 	 	 	– 	 
	  	 	  	 	 	  	 	 	  	 	 	  	 
	Balance, end of period 	$	 2,243,165 	 	$	 2,070,670 	 	$	 996,301 	 	$	 491,423 	 

	(d) 	
      Foreign Exchange Gain
(Loss)

	Period ended 	 	August 31, 	 	 	August 31, 	 	 	May 31, 	 	 	May 31, 	 	 	May 31, 	 
	  	 	2006 	 	 	2005 	 	 	2006 	 	 	2005 	 	 	2004 	 
	  	 	(Unaudited) 	 	 	(Unaudited) 	 	 	 
    	 	 	 
    	 	 	 
    	 
	  	 	  	 	 	  	 	 	  	 	 	  	 	 	  	 
	Foreign exchange gain (loss)
      	$	 325,433 	 	$	 (55,639	) 	$	 (200,437	) 	$	 64,413 	 	$	 – 	 

	(e) 	
      Stock-based
Compensation:

	Period ended 	 	August 31, 	 	 	August 31, 	 	 	May 31, 	 	 	May 31, 	 	 	May 31, 	 
	  	 	2006 	 	 	2005 	 	 	2006 	 	 	2005 	 	 	2004 	 
	  	 	(Unaudited) 	 	 	(Unaudited) 	 	 	 
    	 	 	 
    	 	 	 
    	 
	  	 	  	 	 	  	 	 	  	 	 	  	 	 	  	 
	Stock-based compensation 	 	  	 	 	  	 	 	  	 	 	  	 	 	  	 
	 expense recorded to: 	 	  	 	 	  	 	 	  	 	 	  	 	 	  	 
	Research and development 	$	 77,290 	 	$	 25,257 	 	$	 151,945 	 	$	 132,174 	 	$	 156,642 	 
	General and administrative 	 	107,523 	 	 	64,059
      	 	 	593,625 	 	 	372,704 	 	 	229,406 	 
	  	$	 184,813 	 	$	 89,316 	 	$	 745,570 	 	$	 504,878 	 	$	 386,048 	 

	(f) 	
      Earnings per share

	 	 
		
      The following securities could potentially dilute basic
      earnings per share but have been excluded from its calculation since their
      effect would be anti-dilutive:

	  	 	August 31, 	 	 	August 31, 	 	 	May 31, 	 	 	May 31, 	 	 	May 31, 	 
	  	 	2006 	 	 	2005 	 	 	2006 	 	 	2005 	 	 	2004 	 
	  	 	(Unaudited) 	 	 	(Unaudited) 	 	 	 
    	 	 	 
    	 	 	 
    	 
	  	 	  	 	 	  	 	 	  	 	 	  	 	 	  	 
	Options: 	 	  	 	 	  	 	 	  	 	 	  	 	 	  	 
	   As at end of period
      	 	3,468,361 	 	 	2,504,333 	 	 	3,300,028 	 	 	2,372,333 	 	 	2,307,033 	 
	  	 	  	 	 	  	 	 	  	 	 	  	 	 	  	 
	Warrants: 	 	  	 	 	  	 	 	  	 	 	  	 	 	  	 
	   As at end of period 	 	6,706,860 	 	 	2,706,860 	 	 	6,706,860 	 	 	502,403 	 	 	502,403 	 
	  	 	  	 	 	  	 	 	  	 	 	  	 	 	  	 
	Total: 	 	  	 	 	  	 	 	  	 	 	  	 	 	  	 
	   As at end of period
      	 	10,175,221 	 	 	5,211,193 	 	 	10,006,888 	 	 	2,874,736	 	 	2,809,436

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