Document:

ex4_1.htm

    
      

    

    Exhibit
4.1

    
      Incentive
Stock Option 

        
          

        

      

    

    

    THIS
OPTION AND THE SHARES OF COMMON STOCK WHICH MAY BE PURCHASED UPON THE EXERCISE
OF THIS OPTION HAVE BEEN ACQUIRED SOLELY FOR INVESTMENT AND HAVE NOT BEEN
REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "ACT"), OR ANY
STATE SECURITIES LAWS. SUCH SECURITIES MAY NOT BE SOLD, OFFERED FOR SALE,
PLEDGED OR HYPOTHECATED IN THE ABSENCE OF SUCH REGISTRATION OR AN OPINION OF
COUNSEL SATISFACTORY TO THE COMPANY AND ITS COUNSEL THAT SUCH SALE, OFFER,
PLEDGE OR HYPOTHECATION IS EXEMPT FROM THE REGISTRATION AND PROSPECTUS DELIVERY
REQUIREMENTS OF THE ACT AND OF ANY APPLICABLE STATE SECURITIES LAWS. UPON THE
FULFILLMENT OF CERTAIN OF SUCH CONDITIONS THE MINT LEASING, INC. HAS AGREED TO
DELIVER TO THE HOLDER HEREOF A NEW OPTION OR TO THE HOLDER THEREOF A NEW
CERTIFICATE FOR THE SHARES ISSUABLE HEREUNDER, AS APPLICABLE, IN EACH CASE NOT
BEARING THIS LEGEND, FOR THE OPTION OR SUCH SHARES, AS THE CASE MAY BE,
REGISTERED IN THE NAME OF THE HOLDER HEREOF OR THEREOF. A COPY OF THE AGREEMENT
MAY BE OBTAINED AT NO COST BY WRITTEN REQUEST MADE BY THE HOLDER OF RECORD OF
THIS OPTION OR OF THE SHARES ISSUABLE HEREUNDER TO THE SECRETARY OF THE MINT
LEASING, INC.

    

    THE
MINT LEASING, INC.

    INCENTIVE
STOCK OPTION

    
      
        

      

       

    

    
      	
              No.
      ISO 1

            	
              Void
      after July 18, 2018

            

    

    

    THIS
CERTIFIES THAT, for value received, Jerry Parish (the "Holder") is entitled
during the period commencing on July 18, 2008 (“Initial Option Exercise Date”)
to subscribe for and purchase One Million (1,000,000) shares of the fully paid
and nonassessable Common Stock, $.001 par value (the "Shares"), of THE MINT LEASING,
INC., a Nevada corporation (the "Company") at the per share
exercise price of $___ (the “Exercise Price”).

    

    This
Option is granted pursuant to and is governed  by the Company’s 2008
Officer, Director, Employee and Consultant Stock Option, Stock Warrant and Stock
Award Plan (the “Plan”)
and shall be treated for federal income tax purposes as an incentive stock
option pursuant to Section 422 of the Internal Revenue Code of 1986, as amended
(the “Code”).

    

    
      	
               
      

            	
              1.

            	
              Method
      of Exercise; Payment.

            

    

    

    
      	
               
      

            	
              a.

            	
              Cash
      Exercise. The purchase rights represented by this Option may be
      exercised by the Holder, in whole or in part, by the surrender of this
      Option (with the notice of exercise form attached hereto as Exhibit A duly
      executed) at the principal office of the Company, and by the payment to
      the Company, by certified, cashier's or other check acceptable to the
      Company or by wire transfer to an account designated by the Company, of an
      amount equal to the Exercise Price of the Shares being
      purchased.

            

      
        
           

        

        
          
          

          
            

          

        

        
           

        

      

    

     

    
      	
               
      

            	
              b.

            	
              Cashless
      Exercise. The Holder, in lieu of purchasing the entire number of
      Shares subject to purchase hereunder, shall have the right to relinquish
      all or any part of the then unexercised portion of this Option for a
      number of Shares to be determined in accordance with the following
      provisions of this clause (b):

            

    

    

    X  =
   Y(A-B)

    A

    

    Where:

    

    X = the
number of Shares to be issued to the Holder under this Section
1(b);

    

    Y = the
number of Shares identified in the Notice of Exercise as being
relinquished

    

    A = the
current market value (as defined below) of one share of Common Stock of the
Company on such date; and

    

    B = the
Exercise Price on such date.

    

    
      	
               
      

            	
              c.

            	
              Stock
      Certificates. In the event of any exercise of the rights
      represented by this Option, certificates for the Shares so purchased shall
      be delivered to the Holder within a reasonable time and, unless this
      Option has been fully exercised or has expired, a new Option representing
      the shares with respect to which this Option shall not have been exercised
      shall also be issued to the Holder within such
  time.

            

    

    

    
      	
               
      

            	
              2.

            	
              Stock
      Fully Paid; Reservation of Shares. All of the Shares issuable upon
      the exercise of the rights represented by this Option will, upon issuance
      and receipt of the Exercise Price therefor, be fully paid and
      nonassessable, and free from all taxes, liens and charges with respect to
      the issue thereof. During the period within which the rights represented
      by this Option may be exercised, the Company shall at all times have
      authorized and reserved for issuance sufficient shares of its Common Stock
      to provide for the exercise of the rights represented by this
      Option.

            

    

    

    
      	
               
      

            	
              3.

            	
              Adjustments.
      The number and kind of securities purchasable upon the exercise of this
      Option and the Exercise Price therefor shall be subject to adjustment from
      time to time upon the occurrence of certain events, as
      follows:

            

    

    
      
         

      

      
        Page 2 of
9

        
          

        

      

      
         

      

    

     

    
      	
               
      

            	
              a.

            	
              Reclassification.
      In the case of any reclassification or change of securities of the class
      issuable upon exercise of this Option (other than a change in par value,
      or from par value to no par value, or from no par value to par value, or
      as a result of a subdivision or combination), or in case of any merger of
      the Company with or into another corporation (other than a merger with
      another corporation in which the Company is the acquiring and the
      surviving corporation and which does not result in any reclassification or
      change of outstanding securities issuable upon exercise of this Option),
      or in case of any sale of all or substantially all of the assets of the
      Company, the Company, or such successor or purchasing corporation, as the
      case may be, shall duly execute and deliver to the Holder a new Option (in
      form and substance reasonably satisfactory to the Holder), or the Company
      shall make appropriate provision without the issuance of a new Option, so
      that the Holder shall have the right to receive, at a total purchase price
      not to exceed that payable upon the exercise of the unexercised portion of
      this Option, and in lieu of the shares of Common Stock theretofore
      issuable upon exercise of this Option, (i) the kind and amount of shares
      of stock, other securities, money and property receivable upon such
      reclassification, change, merger or sale by a holder of the number of
      shares of Common Stock then purchasable under this Option, or (ii) in the
      case of such a merger or sale in which the consideration paid consists all
      or in part of assets other than securities of the successor or purchasing
      corporation, at the option of the Holder, the securities of the successor
      or purchasing corporation having a value at the time of the transaction
      equivalent to the fair market value of the Common Stock at the time of the
      transaction. The provisions of this subparagraph (a) shall similarly apply
      to successive reclassifications, changes, mergers and
      transfers.

            

    

    

    
      	
               
      

            	
              b.

            	
              Stock
      Splits, Dividends and Combinations. In the event that the Company
      shall at any time subdivide the outstanding shares of Common Stock or
      shall issue a stock dividend on its outstanding shares of Common Stock the
      number of Shares issuable upon exercise of this Option immediately prior
      to such subdivision or to the issuance of such stock dividend shall be
      proportionately increased, and the Exercise Price shall be proportionately
      decreased, and in the event that the Company shall at any time combine the
      outstanding shares of Common Stock the number of Shares issuable upon
      exercise of this Option immediately prior to such combination shall be
      proportionately decreased, and the Exercise Price shall be proportionately
      increased, effective at the close of business on the date of such
      subdivision, stock dividend or combination, as the case may
      be.

            

    

    

    
      	
               
      

            	
              4.

            	
              Notice
      of Adjustments. Whenever the number of Shares purchasable hereunder
      or the Exercise Price thereof shall be adjusted pursuant to Section 3
      hereof, the Company shall provide notice to the Holder setting forth, in
      reasonable detail, the event requiring the adjustment, the amount of the
      adjustment, the method by which such adjustment was calculated, and the
      number and class of shares which may be purchased thereafter and the
      Exercise Price therefor after giving effect to such
      adjustment.

            

    

    
      
         

      

      
        Page 3 of
9

        
          

        

      

      
         

      

    

     

    
      	
               
      

            	
              5.

            	
              Fractional
      Shares. Whether or not the number of shares purchasable upon the
      exercise of an Option is adjusted pursuant to Section 3 of this Agreement,
      this Option may not be exercised for fractional shares and the Company
      shall not be required to issue fractions of Shares upon exercise of the
      Options or to distribute Shares certificates that evidence fractional
      Shares.  In lieu of fractional Shares, there shall be returned
      to the Holder upon such exercise an amount in cash, in United States
      dollars, equal to the amount in excess of that required to purchase the
      largest number of full Shares.

            

    

    

    
      	
               
      

            	
              6.

            	
              Termination
      of Business Relationship.

            

    

    

    
      	
               
      

            	
              a.

            	
              Termination Other than
      for Cause  If the Holder’s employment with the Company is
      terminated, other than by reason of death, disability, as defined in
      Section 5.02 of the Employment Agreement between the Company (originally
      between The Mint Leasing, Inc., a Texas corporation, and transferred to
      the Company), and the Holder (the “Employment Agreement),
      or termination for Cause as defined in Section 5.03 of the Employment
      Agreement, no further installments of the Option shall become exercisable,
      and this Option shall terminate (and may no longer be exercised) after the
      passage of ninety (90) days from the date Holder’s employment ceases, but
      in no event later than the scheduled expiration date. In such a case, the
      Holder’s only rights hereunder shall be those that are properly exercised
      before the termination of the
Option.

            

    

     

    
      	
               
      

            	
              b.

            	
              Termination for
      Cause. If the Holder’s employment with the Company is terminated
      for Cause (as defined in Section 5.03 of the Employment Agreement), this
      Option shall terminate upon the Holder’s receipt of written notice of such
      termination and shall thereafter not be exercisable to any extent
      whatsoever.

            

    

     

    
      	
               
      

            	
              c.

            	
              Death of
      Holder.  If the Holder dies while employed by the
      Company, this Option may be exercised, to the extent otherwise exercisable
      on the date of his death, by the Holder’s estate, personal representative
      or beneficiary to whom this Option has been assigned pursuant to Section
      10(a), at any time within 180 days after the date of death, but not later
      than the scheduled expiration date.

            

    

     

    
      	
               
      

            	
              d.

            	
              Disability of
      Holder.  If the Holder’s employment with the Company is
      terminated by reason of his disability (as defined in the Employment
      Agreement), this Option may be exercised, to the extent otherwise
      exercisable on the date the employment was terminated, at any time within
      180 days after such termination, but not later than the scheduled
      expiration date.

            

    

     

    
      	
               
      

            	
              e.

            	
              Effect of
      Termination.  At the expiration of time periods described
      in Sections 6(a), (c) and (d) or the scheduled expiration date, whichever
      is earlier, this Option shall terminate (and shall no longer be
      exercisable) and the only rights hereunder shall be those as to which this
      Option was properly exercised before such
  termination.

            

      
        
           

        

        
          Page 4 of
9

          
            

          

        

        
           

        

      

    

     

    
      	
               
      

            	
              7.

            	
              Representations
      of the Company. The Company represents that (i) all corporate
      actions on the part of the Company, its officers, directors and
      shareholders necessary for the issuance of this Option, the issuance of
      the Shares pursuant to exercise of this Option, and the performance of the
      Company's obligations hereunder were taken prior to and are effective as
      of the Initial Option Exercise Date; and (ii) the Exercise Price is equal
      to the fair market value of the Company’s Common Stock as of the Initial
      Option Exercise Date.

            

    

    

    
      	
               
      

            	
              8.

            	
              Representations
      and Warranties by the Holder. The Holder represents and warrants to
      the Company as follows:

            

    

    

    
      	
               
      

            	
              a.

            	
              This
      Option and the Shares issuable upon exercise thereof are being acquired
      for its own account, for investment and not with a view to, or for resale
      in connection with, any distribution or public offering thereof within the
      meaning of the Securities Act of 1933, as amended (the
      "Act").  Upon exercise of this Option, the Holder shall, if so
      requested by the Company, confirm in writing, in a form satisfactory to
      the Company, that the securities issuable upon exercise of this Option are
      being acquired for investment and not with a view toward distribution or
      resale.

            

    

    

    
      	
               
      

            	
              b.

            	
              The
      Holder understands that the Option and the Shares have not been registered
      under the Act by reason of their issuance in a transaction exempt from the
      registration and prospectus delivery requirements of the Act pursuant to
      Section 4(2) thereof, and that they must be held by the Holder
      indefinitely, and that the Holder must therefore bear the economic risk of
      such investment indefinitely, unless a subsequent disposition thereof is
      registered under the Act or is exempted from such
      registration.

            

    

    

    
      	
               
      

            	
              c.

            	
              The
      Holder has such knowledge and experience in financial and business matters
      that it is capable of evaluating the merits and risks of the purchase of
      this Option and the Shares purchasable pursuant to the terms of this
      Option and of protecting its interests in connection
      therewith.

            

    

    

    
      	
               
      

            	
              d.

            	
              The
      Holder is able to bear the economic risk of the purchase of the Shares
      pursuant to the terms of this
Option.

            

    

    

    
      	
               
      

            	
              9.

            	
              Restrictive
      Legend. The Shares (unless registered under the Act) shall be
      stamped or imprinted with a legend in substantially the following form:
      THE SHARES REPRESENTED BY THIS CERTIFICATE HAVE BEEN ACQUIRED FOR
      INVESTMENT AND NOT WITH A VIEW TO, OR IN CONNECTION WITH, THE SALE OR
      DISTRIBUTION THEREOF, AND HAVE NOT BEEN REGISTERED UNDER THE SECURITIES
      ACT OF 1933, AS AMENDED. SUCH SHARES MAY NOT BE SOLD OR TRANSFERRED IN THE
      ABSENCE OF SUCH REGISTRATION OR UNLESS THE COMPANY RECEIVES AN OPINION OF
      COUNSEL REASONABLY ACCEPTABLE TO IT STATING THAT SUCH SALE OR TRANSFER IS
      EXEMPT FROM THE REGISTRATION AND PROSPECTUS DELIVERY REQUIREMENTS OF THE
      ACT. UPON THE FULFILLMENT OF CERTAIN OF SUCH CONDITIONS THE MINT LEASING,
      INC. HAS AGREED TO DELIVER TO THE HOLDER HEREOF A NEW CERTIFICATE NOT
      BEARING THIS LEGEND FOR THE SECURITIES REPRESENTED HEREBY REGISTERED IN
      THE NAME OF THE HOLDER HEREOF. A COPY OF THE AGREEMENT MAY BE OBTAINED AT
      NO COST BY WRITTEN REQUEST MADE BY THE HOLDER OF RECORD OF THIS
      CERTIFICATE TO THE SECRETARY OF THE MINT LEASING,
  INC.

            

    

    
      
         

      

      
        Page 5 of
9

        
          

        

      

      
         

      

    

     

    
      	
               
      

            	
              10.

            	
              Restrictions
      Upon Transfer and Removal of
Legend.

            

    

    

    
      	
               
      

            	
              a.

            	
              This
      Option is not transferable or assignable except by will or by the laws of
      descent and distribution or pursuant to a valid domestic relations order.
      Except as set forth in the preceding sentence, during the Holder’s
      lifetime, only the Holder can exercise this
  Option.

            

    

    

    
      	
               
      

            	
              b.

            	
              The
      Company need not register a transfer of this Option or Shares bearing the
      restrictive legend set forth in Section 9 hereof, unless the conditions
      specified in such legend are satisfied. The Company may also instruct its
      transfer agent not to register the transfer of the Shares, unless one of
      the conditions specified in the legend referred to in Section 9 hereof is
      satisfied.

            

    

    

    
      	
               
      

            	
              11.

            	
              Rights
      of Shareholders. No holder of this Option shall be entitled, as an
      Option holder, to vote or receive dividends or be deemed the holder of any
      Shares or any other securities of the Company which may at any time be
      issuable on the exercise hereof for any purpose, nor shall anything
      contained herein be construed to confer upon the holder of this Option, as
      such, any of the rights of a stockholder of the Company or any right to
      vote for the election of directors or upon any matter submitted to
      shareholders at any meeting thereof, or to give or withhold consent to any
      corporate action (whether upon any recapitalization, issuance of stock,
      reclassification of stock, change of par value, consolidation, merger,
      conveyance, or otherwise) or to receive notice of meetings, or to receive
      dividends or subscription rights or otherwise until the Option shall have
      been exercised and the Shares purchasable upon the exercise hereof shall
      have become deliverable, as provided
herein.

            

    

    

    
      	
               
      

            	
              12.

            	
              Notices.
      All notices and other communications required or permitted hereunder shall
      be in writing, shall be effective when given, and shall in any event be
      deemed to be given upon receipt or, if earlier, (a) five (5) days after
      deposit with the U.S. Postal Service or other applicable postal service,
      if delivered by first class mail, postage prepaid, (b) upon delivery, if
      delivered by hand, (c) one business day after the business day of deposit
      with Federal Express or similar overnight courier, freight prepaid or (d)
      one business day after the business day of facsimile transmission, if
      delivered by facsimile transmission with copy by first class mail, postage
      prepaid, and shall be addressed (i) if to the Holder, at the Holder's
      address as set forth on the books of the Company, and (ii) if to the
      Company, at the address of its principal corporate offices (attention:
      President) or at such other address as a party may designate by ten days
      advance written notice to the other party pursuant to the provisions
      above.

            

    

    
      
         

      

      
        Page 6 of
9

        
          

        

      

      
         

      

    

     

    
      	
               
      

            	
              13.

            	
              Governing
      Law. This Option and all actions arising out of or in connection
      with this Agreement shall be governed by and construed in accordance with
      the laws of the State of Texas, without regard to the conflicts of law
      provisions of the State of Texas or of any other
  state.

            

    

    

    
      	
               
      

            	
              14.

            	
              Entire
      Agreement; Modification; Waivers  This Agreement contains
      the entire agreement of the parties, and supersedes any prior agreements
      with respect to its subject matter.  This Agreement may only be
      modified only by a written agreement, executed by the Holder and the
      Company, provided that the Company may make any changes in this Agreement
      that it shall deem appropriate to correct any defective or inconsistent
      provision or manifest mistake or error herein
  contained.

            

    

    

    
      	
               
      

            	
              15.

            	
              Jurisdiction
      and Venue  The courts of the State of Texas (the “Texas Courts”) shall
      have exclusive jurisdiction to hear, adjudicate, decide, determine and
      enter final judgment in any action, suit, proceeding, case, controversy or
      dispute, whether at law or in equity or both, and whether in contract or
      tort or both, arising out of or related to this Agreement, or the
      construction or enforcement hereof or thereof (any such action, suit,
      proceeding, case, controversy or dispute, a “Related
      Action”).  The Company and the Holder hereby irrevocably
      consent and submit to the exclusive personal jurisdiction of the Texas
      Courts to hear, adjudicate, decide, determine and enter final judgment in
      any Related Action.  The Company and the Holder hereby
      irrevocably waive and agree not to assert any right or claim that it is
      not personally subject to the jurisdiction of the Texas Courts in any
      Related Action, including any claim of forum non conveniens or
      that the Texas Courts are not the proper venue or form to adjudicate any
      Related Action.  If any Related Action is brought or maintained
      in any court other than the Texas Courts, then that court shall, at the
      request of the Company or the Holder, dismiss that
  action.

            

    

    

    
      	
               
      

            	
              16.

            	
              Specific
      Performance  The Company hereby acknowledges and agrees
      that it is difficult, if not impossible to measure in money the damages
      that will accrue to the Holder by reason of a failure to issue the Shares
      under this Agreement, and that the Holder may seek to specifically enforce
      the Company’s obligation to issue the Shares.  Therefore, if the
      Holder shall institute any action or proceeding to enforce the provisions
      hereof, the Company hereby waives all claims or defenses therein that the
      Holder has an adequate remedy at law, and hereby agrees not to assert or
      otherwise raise any such claim or
defense.

            

    

    
      
         

      

      
        Page 7 of
9

        
          

        

      

      
         

      

    

     

    
      	
               
      

            	
              17.

            	
              Waiver
      of Jury Trial  The Company and the Holder hereby waive
      trial by jury in any Related
Action.

            

    

    

    
      	
               
      

            	
              18.

            	
              Attorney’s
      Fees The prevailing
      party in any Related Action shall be entitled to recover that party’s
      costs of suit, including reasonable attorney’s
  fees.

            

    

    

    
      	
               
      

            	
              19.

            	
              Binding
      Effect  This Agreement shall be binding on, and shall
      inure to the benefit of the parties and their respective successors in
      interest.

            

    

    

    
      	
               
      

            	
              20.

            	
              Construction,
      Counterparts  This Agreement shall be construed as a
      whole and in favor of the validity and enforceability of each of its
      provisions, so as to carry out the intent of the parties as expressed
      herein. Heading are for the convenience of reference, and the meaning and
      interpretation of the text of any provision shall take precedence over its
      heading. This Agreement may be signed in one or more counterparts, each of
      which shall constitute an original, but all of which, taken together shall
      constitute one agreement. A faxed copy or photocopy of a party’s signature
      shall be deemed an original for all
purposes.

            

    

    

    Issued
this 18th day of
July, 2008.

    
      	 
      	
              THE
      MINT LEASING, INC.

            
	 
      	 
      	 
      
	 
      	
               By:

            	
              /S/ Michael Hluchanek

            
	 
      	 
      	
              Michael
      Hluchanek

            

    

    

      
        
           

        

        
          Page 8 of
9

          
            

          

        

        
           

        

      

    

     

    EXHIBIT
A

    NOTICE OF
EXERCISE

    

    
      	
              TO:

            	
              The
      Mint Leasing, Inc.

            

    

    323 N.
Loop West

     

    Houston,
TX 77008________________

     

     

    
      	
               
      

            	
              1.

            	
              The
      undersigned hereby elects to purchase __________ Shares of THE MINT
      LEASING, INC. pursuant to the terms of the attached
  Option.

            

    

     

    
      	
               
      

            	
              2.

            	
              The
      undersigned elects to exercise the attached Option by means of a cash
      payment, and tenders herewith or by concurrent wire transfer payment in
      full for the purchase price of the shares being purchased, together with
      all applicable transfer taxes, if
any.

            

    

    

     

    
      	
               
      

            	
              3.

            	
              Please
      issue a certificate or certificates representing said Shares in the name
      of the undersigned or in such other name as is specified
      below:

            

    

    

     

    
      	 
      	 
	
              (Name)

            	 
	 
      	 
	 
      	 
	 	 
	
               (Address)

            	 

    

    

     

    
      	
               
      

            	
              4.

            	
              The
      undersigned hereby represents and warrants that the aforesaid Shares are
      being acquired for the account of the undersigned for investment and not
      with a view to, or for resale, in connection with the distribution
      thereof, and that the undersigned has no present intention of distributing
      or reselling such shares and all representations and warranties of the
      undersigned set forth in Section 7 of the attached Option are true and
      correct as of the date hereof.

            

    

    

     

    
      	
              \

            	 	 
      	 
	 
      	 	
              (Signature)

            	 
	 
      	 	
              Printed
      Name:

            	 
	 
      	 	 
      	 
	 
      	 	 
      	 
	
              (Date)

            	 	 
      	 

    

    
 

    Page 9 of
9ex4_2.htm

    
      

    

    Exhibit
4.2

    
      Consulting
Agreement dated June 1st 2007
(Hunter M.A. Carr)

      
        
          

        

      

    

    CONSULTING
AGREEMENT

    

    1.
Parties.

    

    1.1. This
Consulting Agreement (this “Agreement”) is made and entered into effective as of
the 1st day of
June, 2007, by and between The Mint Leasing, Inc., 323 North Loop W, Houston,
Texas 77008, a Nevada corporation (the “Company”), and Hunter M. A. Carr, a
natural person and resident of Texas (the “Consultant”).

    

    2.
Recitals.

    

    2.1. This
Agreement is made with reference to the following facts and circumstances. (a)
The Company wishes to engage the services of the Consultant to advise and
consult with the Company on certain business and financial matters as set forth
in this Agreement. (b) The Consultant is willing to accept such engagement, on
the terms set forth in this Agreement.

    

    2.2. In
consideration of the premises, and for other good and valuable consideration,
the receipt of which is hereby acknowledged, the Company and the Consultant
agree as follows.

    

    3.
Engagement.

    

    3.1. The
Company hereby engages the services of the Consultant, as an independent
contractor, for a period of one year beginning on the date hereof, and ending
one year from and after the date hereof (the “Term”), and the Consultant hereby
accepts such engagement, for the purposes set forth in section 3.2.
below.

    

    3.2. The
scope of the services to be rendered by the Consultant to the Company are
limited to the following:

    

    (a) The
Consultant shall, from time to time as the Company may request, advise and
consult with the Company’s board of directors and executive officers regarding
(i) the Company’s merger and acquisition strategies, including the evaluation of
targets and the structuring of transactions; (ii) the Company’s investor
relations; and (iii) the Company’s business development activities, including
major geographic and service expansion plans.

    

    (b) The
Consultant shall devote such time to this engagement as is reasonably necessary,
but the Consultant need not devote his full time or attention to the engagement.
The Company recognizes that the Consultant has numerous clients and engagements,
and that this engagement is not exclusive.

    

    (c) The
services need not be rendered at the Company’s offices and may be rendered by
telephonic communication; provided, however, that upon the Company’s request and
reasonable notice, the Consultant will attend meetings of the Company’s board of
directors and executive officers for the purpose of advising and consulting with
them with respect to matters within the scope of this
engagement.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    (d)
Anything in this Agreement to the contrary notwithstanding, the services
rendered by the Consultant under this Agreement shall not include any services
in connection with the offer or sale of securities and will not directly or
indirectly promote or maintain a market for the Company’s
securities.

    

    4.
The Consultant’s Fees and Expenses.

    

    4.1. The
Company shall pay the Consultant as a fee for his services under this Agreement
(the “Consulting Fee”) warrants to purchase up to 1,050,000 shares of the
Company’s common stock at the following strike price per share:

    (a)  350,000
shares at $.10 price per share, which shall be deemed to be fully earned upon
execution of this Agreement.

    (b)  200,000
shares at $.50 price per share, which shall be deemed to be fully earned upon
execution of this Agreement.

    (c)
200,000 shares at $1.00 price per share, which shall be deemed to be fully
earned upon execution of this Agreement.

    (d)
150,000 shares at $1.50 price per share, which shall be deemed to be fully
earned upon execution of this Agreement.

    (e)
150,000 shares at $2.00 price per share, which shall be deemed to be fully
earned upon execution of this Agreement.

    

    It is
understood that these warrants may be cashless upon conversion, at the sole
discretion of the warrantholder.

    

    4.2. The
Company shall cause the warrants to be issued to the Consultant, and the stock
issuable upon exercise thereof, to be registered under the Securities Act of
1933, as amended, pursuant to an effective registration statement on an amended
form SB-2, or other appropriate form, at a reasonable time requested by
Consultants. The issuance of certificates representing the warrants to the
Consultant pursuant to the Warrant Agreement attached hereto as Exhibit
A.

    

    4.3. The
warrants delivered to the Consultant for his services under this Agreement shall
include the Consultant’s costs and expenses incurred in the performance of this
Agreement, including travel, lodging, meals and legal fees.

    

    4.4. The
Company will be responsible for approved expenses, including, but not limited to
travel, advertising, marketing, etc.

    

    5. Confidential
Information.

    

    5.1. The
parties hereto recognize that a major need of the Company is to preserve its
specialized knowledge, trade secrets, and confidential information. The strength
and good will of the Company is derived from the specialized knowledge, trade
secrets, and confidential information generated from experience with the
activities undertaken by the Company and its subsidiaries. The disclosure of
this information and knowledge to competitors would be beneficial to them and
detrimental to the Company, as would the disclosure of information about the
marketing practices, pricing practices, costs, profit margins, design
specifications, analytical techniques, and similar items of the Company and its
subsidiaries. By reason of his being a Consultant to the Company, Consultant has
or will have access to, and will obtain, specialized knowledge, trade secrets
and confidential information about the Company’s operations and the operations
of its subsidiaries, which operations extend through the United States.
Therefore, Consultant recognizes that the Company is relying on these agreements
in entering into this Agreement.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    5.2
During and after the Term, Consultant will not use, disclose to others, or
publish any inventions or any confidential business information about the
affairs of the Company, including but not limited to confidential information
concerning the Company’s products, methods, engineering designs and standards,
analytical techniques, technical information, customer information, employee
information, and other confidential information acquired by him in the course of
his past or future services for the Company. Consultant agrees to hold as the
Company’s property all memoranda, books, papers, letters, formulas and other
data, and all copies thereof and therefrom, in any way relating to the Company’s
business and affairs, whether made by him or otherwise coming into his
possession, and on termination of his employment, or on demand of the Company,
at any time, to deliver the same to the Company within twenty four hours of such
termination or demand.

    

    5.3
During the Term Consultant will not induce any employee of the Company to leave
the Company’s employ or hire any such employee (unless the Board of Directors of
the Company shall have authorized such employment and the Company shall have
consented thereto in writing).

    

    6.
Arbitration of Disputes, Litigation Expenses.

    

    6.1. Any
controversy or claim arising out of or relating to any acts or omissions of
either party hereto or any of the Company’s officers, directors, agents,
affiliates, associates, employees or controlling persons shall be settled by
binding arbitration under the Federal Arbitration Act in accordance with the
commercial arbitration rules of the American Arbitration Association. Within 15
days after the commencement of arbitration, each party shall select one person
to act as arbitrator and the two selected shall select a third arbitrator within
10 days of their appointment. If the arbitrators selected by the parties are
unable or fail to agree upon the third arbitrator, the third arbitrator shall be
selected by the American Arbitration Association. In such arbitration
proceedings, the parties shall be entitled to any and all remedies that would be
available in the absence of this Section and the arbitrators, in rendering their
decision, shall follow the substantive laws that would otherwise be applicable.
The arbitration of any dispute pursuant to this Section shall be held in
Houston, Texas. Judgment upon the award rendered by the arbitrators may be
entered in any court having jurisdiction

    

    6.2. In
the event of any litigation or other proceeding between the Company and the
Consultant with respect to the subject matter of this Agreement and the
enforcement of the rights hereunder, the losing party shall reimburse the
prevailing party for all of his/its reasonable costs and expenses, as well as
any forum fees, relating to such litigation or other proceeding, including,
without limitation, his/its reasonable attorneys’ fees and expenses, provided
that such litigation or proceeding results in a (a) final settlement
requiring  payment to the prevailing party; or (b) final
judgment.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    7.
Miscellaneous.

    

    7.1.
Relationship. The
relationship between the Company and the Consultant created by this Agreement is
that of independent contractors. Consultant understands and agrees that (i)
Consultant will not be treated as an employee of the Company for federal tax
purposes; (ii) Company will not withhold on behalf of Consultant pursuant to
this Agreement any sums for income tax, unemployment insurance, social security,
or any other withholding pursuant to any law or requirement of any governmental
body relating to Consultant; (iii) all of such payments, withholdings, and
benefits, if any, are the sole responsibility of Consultant; and (iv) Consultant
will indemnify and hold Company harmless from any and all loss or liability
arising with respect to such payments, withholdings, and benefits, if any. In
the event the Internal Revenue Service or any other governmental agency should
question or challenge the independent contractor status of Consultant, the
parties agree that Consultant and Company shall have the right to participate in
any discussion or negotiation occurring with such agency or agencies,
irrespective of who initiates the discussion or negotiations. The services to be
rendered by the Consultant pursuant to this Agreement do not include the
services or activities of an “investment adviser,” as that term is defined by
U.S. federal or state laws and, in performing services under this Agreement, the
Consultant shall not be deemed to be an investment adviser under such
laws.

    

    7.2.
Indemnity. The Company
hereby agrees to defend, indemnify, and hold the Consultant, and his employees,
agents, partners and affiliates harmless from and against any and all claims,
damages, judgments, penalties, costs, and expenses (including attorney fees and
court costs now or hereafter arising from the enforcement of this clause)
arising directly or indirectly from the activities of the Consultant or any of
his employees, agents, partners or affiliates under this Agreement, or from the
activities of the Company or any of its shareholders, officers, directors,
employees, agents, partners or affiliates, whether such claims are asserted by
any governmental agency or any other person. This indemnity shall survive
termination of this Agreement.

    

    7.3.
Advertisement. The
Company agrees that the Consultant has the right to place advertisements in
financial and other newspapers and journals at his own expense describing his
services to the Company.

    

    7.4.
Notices. Any notice or
other communication required or permitted to be given shall be in writing and
shall be mailed by certified mail, return receipt requested (or by the most
nearly comparable method if mailed from or to a location outside of the United
States), or delivered against receipt to the party to whom it is to be given at
the address of such party set forth in the preamble to this Agreement (or to
such other address as the party shall have furnished in writing in accordance
with the provisions of this Section). Any notice given to any corporate party
shall be addressed to the attention of the Corporation Secretary. Any notice of
other communication given by certified mail (or by such comparable method) shall
be deemed given at the time of certification thereof (or comparable act), except
for a notice changing a party’s address which will be deemed given at the time
of receipt thereof.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    7.5.
Survival of
Obligations. The obligations of the parties under Sections 6, 7.1 and 7.2
of this Agreement shall survive the termination for any reason of this Agreement
(whether such termination is by the Company, by the Consultant, upon the
expiration of this Agreement or otherwise).

    

    7.6.
Severability. In case
any one or more of the provisions or part of the provision contained in this
Agreement shall for any reason be held to be invalid, illegal or unenforceable
in any respect in any jurisdiction, such invalidity, illegality or
unenforceability shall be deemed not to affect any other jurisdiction or any
other provision or part of a provision of this Agreement, but this Agreement
shall be reformed and construed in such jurisdiction as if such provision or
part of a provision held to be invalid or illegal or unenforceable had never
been contained herein and such provision or part reformed so that it would be
valid, legal and enforceable in such jurisdiction to the maximum extent
possible. In furtherance and not in limitation of the foregoing, the Company and
Consultant each intend that the covenants contained in Section 5 shall be deemed
to be a series of separate covenants, one for each and every other state,
territory or jurisdiction of the United States and any foreign country set forth
therein. If, in any judicial proceeding, a court shall refuse to enforce any of
such separate covenants, then such covenants shall be deemed eliminated from the
provisions hereof for the purpose of such proceedings to the extent necessary to
permit the remaining separate covenants to be enforced in such proceedings. If,
in any judicial proceeding, a court shall refuse to enforce any one or more of
such separate covenants because the total time thereof is deemed to be excessive
or unreasonable, then it is the intent of the parties hereto that such
covenants, which would otherwise be unenforceable due to such excessive or
unreasonable period of time, be enforced for such lesser period of time as shall
be deemed reasonable and not excessive by such court.

    

    7.7.
Entire Agreement,
Amendment. This Agreement contains the entire agreement between the
Company and the Consultant with respect to the subject matter thereof.
Consultant acknowledges that he neither holds any right, warrant or option to
acquire securities of the company, nor has the right to any such rights,
warrants or options, except pursuant to this Agreement. This Agreement may not
be amended, waived, changed, modified or discharged except by an instrument in
writing executed by or on behalf of the party against whom any amendment,
waiver, change, modification or discharge is sought.

    

    7.8.
Governing Law. This
Agreement shall be governed by, and construed in accordance with, the laws of
the State of Texas; provided, however, if any provision of this Agreement is
unenforceable under Texas law, but is enforceable under the laws of the State of
Nevada, then Nevada shall govern the construction and enforcement of that
provision. The courts of the State of Texas shall have exclusive jurisdiction
for any action arising out of or related to this Agreement.

    

    7.9 Counterparts. This Agreement
may be executed in two or more counterparts, each of which will be deemed an
original and together will constitute one and the same Agreement, with one
counterpart being delivered to each party hereto and the original being may a
part of the corporate records.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    [signatures
on following page]

    
      
         

      

      
         

        
          

        

      

      
         

      

    

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

    

    The
Consultant:

    

    

    
      	
              /s/ Hunter M.A. Carr

            	 
      
	
              Hunter
      M. A. Carr

            	 
      
	 
      	 
      	 
      
	
              Date signed

            	 
      	 
      

    

    

    

    

    The
Company:

    

    The Mint
Leasing, Inc.

    

    

    
      	
              By

            	
              /s/ Jerry Parish

            	 
      
	 
      	
              Printed
      Name: Jerry Parish

            	 
      
	 
      	
              Title:President

            	 
      

    

    

    
      	
              Date
      signed

            	 
      	 
      

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    WARRANT
AGREEMENT

    

    THIS
WARRANT AGREEMENT, dated as of the 1st  day
of June, 2007, is entered into by and between The Mint Leasing, Inc. (the
“Company”), and Hunter M. A. Carr, as warrant agent (the “Warrant
Agent”).

    

    

    W I T N E S S E T
H:

    

    WHEREAS,
the Company has authorized the issuance of 1,050,000 warrants (the “Warrants”)
in connection with certain consulting agreements;

    

    WHEREAS,
the Warrants are issued pursuant to the Company’s Strategic Plan, approved by
the board of directors;

    

    WHEREAS,
the Company desires to provide for the issuance of certificates representing the
Warrants; and

    

    WHEREAS,
the Company desires the Warrant Agent to act on behalf of the Company, and the
Warrant Agent is willing to act in connection with the issuance, registration,
transfer and exchange of Warrants and the exercise of the Warrants.

    

    NOW,
THEREFORE, in consideration of the premises and the mutual agreements
hereinafter set forth and for the purpose of defining the terms and provisions
of the Warrants and the respective rights and obligations hereunder of the
Company, the Registered Holders of Warrants, and the Warrant Agent, the parties
hereto agree as follows:

    

    

    SECTION
1

    DEFINITIONS

    

    In
addition to those terms defined above, as used herein, the following terms shall
have the following meanings, unless the context shall otherwise
require:

    

    “Corporate Office” The office
of the Warrant Agent (or its successor) at which its principal business shall be
administered, which office is located at the date hereof at

    
      	
              .

            

    

    

    “Exercise Date” As to any
Warrant, the date on which the Warrant Agent shall have received both (i) the
Warrant Certificate representing such Warrant, with the notice of exercise form
therefor duly executed by the Registered Holder thereof or his duly authorized
attorney (in writing), and (ii) instructions for delivery as provided in
paragraph 4.2.

    

    “Exercise Price” The dollar
amount to be paid for one fully paid and nonassessable Share, as set forth in
the Warrant Certificate, subject to adjustment in the events specified in
Section 8.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    “Expiration Date” The
Expiration Date of the Warrants shall be 5:00 p.m. (New York time) or the
earlier of (i)(A) the date which is the last day of the 5 year period commencing
on the Initial Warrant Exercise Date, or (B) such later date as the Company may
at its option determine; or (ii) the Redemption Date as defined in Section 9
hereof.  If such Expiration Date shall be a holiday in the State of
New York or shall be a day on which banks are authorized to close in New York,
then Expiration Date shall mean 5:00 p.m. (New York time) on the next following
day that in the State of New York is not a holiday or a day on which banks are
authorized to close.

    

    “Initial Warrant Exercise
Date” The date of this Agreement.

    

    “Purchase Price” The dollar
amount derived by multiplying the Exercise Price by the number of Shares
issuable upon the exercise.

    

    “Registered Holder” The person
in whose name any certificate representing Warrants shall be registered on the
books maintained by the Warrant Agent pursuant to Section 6.

    

    “Settlement Date” The third
business day following delivery of the Shares in accordance with the
instructions contained in the notice of exercise form, free and clear of any
legend, restriction or stop order.  Electronic delivery shall be for
the account specified in the notice of exercise form.  Certificates
shall be registered in the name specified in the notice of exercise
form.

    

    “Shares” The shares of the
Company’s common stock, $.001 par value, or any security into which the
Company’s common stock, $.001 par value, is converted or exchanged (the “Common
Stock”), issuable upon exercise of the Warrants.

    

    “Stock” The shares of the
Company’s capital stock of any class, whether now or thereafter authorized, that
has the right to participate in the distribution of earnings and assets of the
Company without limit as to amount or percentage.

    

    

    SECTION
2

    WARRANTS
AND ISSUANCE OF WARRANTS

    

    
      	
              2.1.

            	
              Warrant

            

    

    

    Each
Warrant shall entitle the Registered Holder of the Warrant representing such
Warrant to purchase one Share upon the exercise thereof, subject to modification
and adjustment as provided in Section 8.

    

    
      	
              2.2.

            	
              Execution
      of Warrants

            

    

    

    Upon
execution of this Agreement, certificates representing warrants to purchase an
aggregate of 1,050,000 shares shall be executed by the Company and delivered to
the Warrant Agent.  At its request, additional Warrant Certificates
shall be executed by the Company and delivered to the Warrant
Agent.  After certificates representing an aggregate of such number of
Shares as shall be required in connection with the distribution of the Warrants,
shall have been duly countersigned by the Company (or by the Transfer Agent, if
one then be acting) and upon written order of the Company signed by its
President and by its Secretary, the Warrants shall be countersigned, issued, and
delivered by the Warrant Agent.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    
      	
              2.3.

            	
              Delivery
      of Additional Warrants

            

    

    

    From time
to time, up to the Expiration Date, the Company (or the Transfer Agent if then
acting) shall countersign and deliver stock certificates in required whole
number denominations upon the exercise of Warrants in accordance with this
Agreement.  From time to time, up to the Expiration Date, the Warrant
Agent shall countersign and deliver Warrants in required whole number
denominations to the persons entitled thereto in connection with any transfer or
exchange permitted under this Agreement.  No Warrants shall be issued
except (i) those initially issued hereunder, (ii) those issued on or after the
Initial Warrant Exercise Date, upon the exercise of any Warrants pursuant to
Section 4, to evidence any unexercised Warrants held by the exercising
Registered Holder, (iii) those issued upon any transfer or exchange pursuant to
Section 6, and (iv) those issued pursuant to Section 7.

    

    

    SECTION
3

    FORM
AND EXECUTION OF WARRANT CERTIFICATES

    

    
      	
              3.1.

            	
              Form
      of Warrants

            

    

    

    The
Warrants shall be substantially in the form annexed hereto as Exhibit “A” (the
provisions of which are hereby incorporated herein) and may have such letters,
numbers, or other marks of identification or designation and such legends,
summaries, or endorsements printed, lithographed, or engraved thereon as the
Company may deem appropriate and as are not inconsistent with the provisions of
this Agreement, or as may be required to comply with any law or with any rule or
regulation made pursuant thereto or with any rule or regulation of any stock
exchange on which the Warrants may be listed, or to conform to
usage.  The Warrants shall be dated the date of issuance thereof
(whether upon initial issuance, transfer, exchange or in lieu of mutilated,
lost, stolen or destroyed Warrants).  The Warrants shall be numbered
serially.

    

    
      	
              3.2.

            	
              Validity
      of Signatures

            

    

    

    Warrants
shall be executed on behalf of the Company by its President and by its
Secretary, by manual signatures or by facsimile signatures printed thereon, and
shall have imprinted thereon a facsimile of the Company’s
seal.  Warrants shall be manually countersigned by the Warrant Agent
and shall not be valid for any purpose unless so countersigned.  In
case any officer of the Company who signed a Warrant ceases to be such officer
of the Company before issuance of such Warrant, or before countersignature by
the Warrant Agent and issuance and delivery thereof, such Warrant may
nevertheless be countersigned by the Warrant Agent, and issued and delivered
with the same force and effect as though the person who signed such Warrant had
not ceased to be such officer of the Company.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    SECTION
4

    EXERCISE

    

    
      	
              4.1.

            	
              Exercise
      Procedures

            

    

    

    Each
Warrant may be exercised at any time on or after the Initial Warrant Exercise
Date, but not after the Expiration Date, as appropriate, upon the terms and
subject to the conditions set forth herein and in the applicable
Warrant.  A Warrant shall be deemed to have been exercised immediately
prior to the close of business on the Exercise Date, and the person entitled to
receive the Shares deliverable upon such exercise shall be treated for all
purposes as the Registered Holder thereof with respect to such number of Shares
as shall equal the aggregate number of full Shares issuable upon such
exercise.  As soon as practicable on or after the Exercise Date, and
in conformity with usual practices respecting such conduct, the Warrant Agent
(on behalf of the Company) shall cause to be issued and delivered to or for the
account of the person designated by the Registered Holder in the notice of
exercise a certificate or certificates for the Shares deliverable upon such
exercise free and clear of any legend, restriction or stop order.  The
certificate or certificates shall be registered in the name specified in the
notice of exercise, in proper form for transfer.

    

    
      	
              4.2

            	
              Payment
      of Purchase Price

            

    

    

    Upon the
exercise of any Warrant, the Warrant Agent shall promptly notify the Company in
writing of such fact and of the number of Shares delivered upon such exercise,
and shall promptly either (i) make payment to the Company the dollar amount of
the Purchase Price in the manner specified by the Company in writing to the
Warrant Agent, or (ii) provide instructions for such payment against delivery of
the. Shares.  The Purchase Price shall be, derived by multiplying the
Exercise Price by the number of Shares issuable upon the exercise and shall be
paid on or before the Settlement Date by certified or bank check, bank or
federal reserve wire transfer as specified in written instructions from the
Company to the Registered Holder.  In the event the Company does not
specify the method of payment, payment shall be by bank check deposited on the
Settlement Date with a commercial carrier for overnight delivery to the Company
at the address specified in Section 12 of this Agreement.

    

    
      	
              4.3

            	
              Limitation
      on Right and Power to Exercise.

            

    

     

    Any
provision in the Warrant, this Agreement or any other document to the contrary
not withstanding, the Registered Holder shall not have the right or power to
exercise this warrant, either in whole or in part, if, and any attempt to do so
shall be void, after having given effect to such exercise, the Registered Holder
shall be or shall be deemed to be the beneficial owner of 5% or more of the then
outstanding Common Stock within the meaning or for the purposes of Section 13(d)
or 13(g) of the U.S. Securities Exchange Act of 1934, as amended, or as the term
“beneficial owner” is defined in Rule 13d-3 of the U.S. Securities and Exchange
Commission or otherwise. Any attempt to exercise the Warrant shall also be
ineffective to the extent that the Company does not have sufficient authorized,
unissued and unreserved Common Stock to issue the Shares.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    
      	
              4.4.

            	
              No
      Fractional Shares

            

    

    

    Notwithstanding
that the number of Shares purchasable upon the exercise of a Warrant is adjusted
pursuant to Section 8 of this Agreement, the Company shall nonetheless not be
required to issue fractions of Shares upon exercise of the Warrants or to
distribute Shares certificates that evidence fractional Shares.  In
lieu of fractional Shares, there shall be returned to exercising Registered
Holders of the Warrants upon such exercise an amount in cash, in United States
dollars, equal to the amount in excess of that required to purchase the largest
number of full Shares.

    

    The
Registered Holder of a Warrant by the acceptance thereof expressly waives his
right to receive any fractional Warrant or any fractional Shares upon exercise
of a Warrant.

    

    
      	
              4.5.

            	
              Partial
      Exercise

            

    

    

    In case
the Registered Holder of any Warrant shall exercise fewer than all of the
Warrants evidenced thereby, a new Warrant evidencing Warrants equivalent to the
Warrants remaining unexercised shall be issued by the Warrant Agent to the
Registered Holder of such Warrant or to his duly authorized assign, subject to
the provisions of this Agreement.

    

    

    SECTION
5

    RESERVATION
OF SHARES; LISTING; PAYMENT OF TAXES

    

    
      	
              5.1.

            	
              Reservation
      of Shares

            

    

    

    The
Company covenants that it will at all times reserve and keep available out of
its authorized Shares, solely for the purpose of issuance upon exercise of
Warrants, such number of Shares as shall then be issuable upon the exercise of
all outstanding Warrants.  The Company covenants that all Shares that
shall be issuable upon exercise of the Warrants shall be free and clear of any
legend, restriction or stop order, duly and validly issued, fully paid and
nonassessable and free from all taxes, liens, and charges with respect to the
issue thereof, and that upon issuance the Company shall use its best efforts to
cause such Shares to be listed on each national securities exchange, if any, on
which the Company’s outstanding Stock is then listed.

    

    
      	
              5.2.

            	
              Governmental
      Approvals

            

    

    

    If the
Shares reserved under this Section require qualification or registration with or
approval of any governmental authority, federal or state, before such securities
may be validly issued or delivered pursuant to such exercise, the Company
covenants that it will, in good faith, endeavor to secure such registration or
qualification or approval; provided, however, that the Company shall not be
required to issue Shares to any person, pursuant to exercise of the Warrants,
who shall be resident in any state in which such exercise would be unlawful or
if such qualification, registration or approval shall require the Company to
file a general consent of service of process or qualify to do business as a
foreign corporation in such state.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    
      	
              5.3.

            	
              Payment
      of Taxes

            

    

    

    The
Company shall pay all documentary, stamp, or similar taxes and other
governmental charges that may be imposed with respect to the issuance of
Warrants, or the issuance or delivery of any Shares upon exercise of the
Warrants, provided, however, that if Shares are to be delivered in a name other
than the name of the Registered Holder of the Warrant representing any Warrant
being exercised, then no such delivery shall be made unless the person
requesting the same has paid to the Warrant Agent the amount of transfer taxes
or charges incident thereto, if any.

    

    
      	
              5.4.

            	
              Requisition
      of Shares

            

    

    

    The
Warrant Agent is hereby irrevocably authorized by the Company to requisition,
from time to time, certificates representing Shares required to be delivered
upon exercise of the Warrants.

    

    

    SECTION
6

    EXCHANGE
AND REGISTRATION OF TRANSFER

    

    
      	
              6.1.

            	
              Exchanges
      and Transfers

            

    

    

    Warrants
may be exchanged for other Warrants representing an equal aggregate number of
Warrants or may be transferred, in whole or part, under the terms of this
Agreement.  Warrants to be exchanged shall be surrendered to the
Warrant Agent at its Corporate Office, and the Company shall execute and the
Warrant Agent shall countersign, issue and deliver in exchange therefor the
Warrant or Warrants that the Registered Holder making the exchange shall be
entitled to receive.

    

    
      	
              6.2.

            	
              Books
      and Records

            

    

    

    The
Warrant Agent shall keep at such office books and records in which it shall
register Warrants and the transfer thereof.  Upon due presentment at
such office of any Warrant for registration of transfer, the Company shall
execute and the Warrant Agent shall issue and deliver to the transferee(s) a new
Warrant or Warrants representing an equal aggregate number of
Warrants.

    

    
      	
              6.3.

            	
              Procedures
      of Transfers, etc.

            

    

    

    With
respect to all Warrants presented for registration of transfer, or for exchange
or exercise, the subscription form on the reverse thereof shall be duly
endorsed, or be accompanied by a written instrument or instruments of transfer
and subscription, in form satisfactory to the Company and the Warrant
Agent.  Such documentation shall be duly executed by the Registered
Holder or his duly authorized attorney.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    The
Company may require payment by the Registered Holders of Warrants of a sum
sufficient to cover any tax or other governmental charge that may be imposed in
connection with exchange or registration of transfer of Warrants.

    

    All
Warrants so surrendered for exchange or transfer shall be promptly canceled by
the Warrant Agent in accordance with previous instructions pertaining to the
Company’s Shares.

    

    
      	
              6.4.

            	
              Registered
      Holders

            

    

    

    Prior to
due presentment for registration of transfer, the Company and the Warrant Agent
may deem and treat the Registered Holder of any Warrant as the absolute owner
thereof and of each Warrant represented thereby, for all purposes
(notwithstanding any notations of ownership or writing thereon made by anyone
other than the Company or the Warrant Agent), and shall not be affected by any
notice to the contrary.

    

    

    SECTION
7

    LOSS
OR MUTILATION

    

    Upon
receipt by the Company and the Warrant Agent of satisfactory evidence of the
ownership of and the loss, theft, destruction, or mutilation of any Warrant, and
(i) in the case of loss, theft or destruction, upon receipt by the Company and
the Warrant Agent of indemnity satisfactory to them, or (ii) in the case of
mutilation, upon surrender and cancellation upon receipt of such Warrant, the
Company shall execute and the Warrant Agent shall countersign and deliver in
lieu thereof a new Warrant representing an equal aggregate number of
warrants.  Applicants for a substitute Warrant shall comply with such
other reasonable regulations and pay such other reasonable charges as the
Warrant Agent may prescribe.

    

    

    SECTION
8

    ADJUSTMENT
OF EXERCISE PRICE

    AND

    NUMBER
OF SHARES DELIVERABLE

    

    
      	
              8.1.

            	
              Adjustment
      Events

            

    

    

    The
Exercise Price and the number of shares (and, in certain events, the class or
classes of capital stock of the Company) purchased upon the exercise of each
Warrant are each, respectively, subject to adjustment from time to time as
hereinafter provided prior to the expiration of any Warrant by its exercise or
by its terms, in case any one or more of the events and referred to described
below shall occur at any time or from time to time; that is to say, if the
Company shall:

    

    (i)        
    issue any shares of its Common Stock as a dividend or
subdivide its outstanding shares of Common Stock into a greater number of shares
then, in either of such cases, the then applicable purchase price per share of
the shares of Common Stock purchasable pursuant to each Warrant in effect at the
time of such action shall be proportionately reduced and the number of shares at
that time purchasable pursuant to each Warrant shall be proportionately
increased; or,

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    (ii)       
    combine its outstanding shares of Common Stock into a
smaller number of such shares, or reclassify its shares of Common Stock into a
lesser number of any shares of its capital stock, then, in such case, neither
the then applicable purchase price per share of the shares of Common Stock
purchasable pursuant to each Warrant in effect at the time of such action nor
the number of shares of Common Stock at that time purchasable pursuant to each
Warrant will be proportionately decreased; or

    

    (iii)           issue
by reclassification of its shares of Common Stock, into an equal or greater
number of shares of any of its capital stock, then, as a condition of such
recapitalization, lawful and adequate provision shall be made whereby the
Registered Holder of each Warrant shall have, immediately after the effective
date of any such reclassification, the right to purchase, upon the basis and on
the terms and conditions specified herein, in lieu of the shares of Common Stock
of the Company theretofore purchasable upon the exercise of each Warrant, such
shares of stock or other securities as may be issued or payable with respect to,
or in exchange for the number of shares of Common Stock of the Corporation
theretofore purchasable upon the exercise of each Warrant, had such
recapitalization not taken place; and in any such event, the rights of the
Warrant Registered Holder to any adjustment in the number of shares of Common
Stock purchasable upon the exercise of each Warrant, as hereinbefore provided,
shall continue and be preserved in respect of any stock or other securities
which the Warrant holder becomes entitled to purchase.  If after an
adjustment the Registered Holder of a Warrant upon exercise of it may receive
shares of two or more classes of capital stock of the Company, the Board of
Directors shall in good faith determine the allocation of the adjusted Exercise
Price between or among the classes of capital stock.  After such
allocation, that portion of the Exercise Price applicable to each share of each
such class of capital stock shall thereafter be subject to adjustment on terms
comparable to those applicable to Common Stock in this
Agreement.  Notwithstanding the allocation of the Exercise Price
between or among shares of capital stock as provided by this Section 8, a
Warrant may only be exercised in full by payment of the entire Exercise Price
currently in effect; or

    

    (iv)           merge
or consolidate with or into another corporation or sell or convey to another
corporation, all or substantially all of the Company’s assets, then, as a
condition of such consolidation, merger, sale or conveyance, the Company, or
such successor or purchasing corporation, as the case may be, shall make lawful
and adequate provision whereby the Registered Holder of each Warrant then
outstanding shall receive, on exercise of such Warrant, the kind and amount of
securities and property receivable upon such change, consolidation, merger, sale
or conveyance by a Registered Holder of the number of securities issuable upon
exercise of such Warrant immediately prior to such consolidation, merger, sale
or conveyance but after giving effect to any reduction in the number of shares
of the Company’s Common Stock resulting from such change, consolidation, merger,
sale or conveyance, and shall forthwith file at the Corporation Office of the
Warrant Agent a statement signed by its Chairman of the Board or President and
by its Secretary or an Assistant Secretary evidencing such
provisions.  Such provisions shall include provision for adjustments
that shall be as nearly equivalent as may be practicable to the adjustments
provided for in this Section 8; or.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    (v)      
     take a record of the holders of its Common Stock
for the purpose of entitling them to purchase shares of its Common Stock at a
price per share below the current market price (as defined below) per share of
its Common Stock at the date of taking such record, then, the number of shares
of Common Stock purchasable pursuant to this Warrant shall be adjusted by
multiplying (a) the number of shares of Common Stock which the Registered Holder
hereof was entitled to receive immediately prior to such adjustment (taking into
account fractional interests to the nearest 1000th of a share) by (b) a
fraction, the numerator of which is the number of shares of the Common Stock of
the Corporation outstanding (excluding the shares owned by the Corporation)
immediately prior to the taking of such record plus the number of additional
shares offered for purchase, and the denominator of which is the number of
shares of Common Stock of the Corporation outstanding (excluding shares owned by
the Corporation) immediately prior to the taking of such record plus the number
of shares which the aggregate offering price of the total number of additional
shares so offered could purchase at such current market price and the price per
share shall be that number determined by multiplying (a) the price per share in
effect immediately prior to the taking of such record by (b) a fraction, the
numerator of which is the number of shares purchasable hereunder immediately
prior to taking of such record and the denominator of which is the number of
shares purchasable hereunder immediately after the taking of such record;
or

    

    (vi)           enter
into a binding agreement to issue shares of its Common Stock at a price per
share below the current market price (as defined below) per share of its Common
Stock at the date of issuance of such Shares, then, the number of shares of
Common Stock purchasable pursuant to this Warrant shall be adjusted by
multiplying (a) the number of shares of Common Stock which the Registered Holder
hereof was entitled to receive immediately prior to such adjustment (taking into
account fractional interests to the nearest 1000th of a share) by (b) a
fraction, the numerator of which is the number of shares of the Common Stock of
the Corporation outstanding (excluding the shares owned by the Corporation)
immediately prior to the issuance of such Shares plus the number of additional
shares agreed to be issued, and the denominator of which is the number of shares
of Common Stock of the Corporation outstanding (excluding shares owned by the
Corporation) immediately prior to the issuance of such Shares plus the number of
shares which the aggregate issue price of the total number of additional shares
so issued would have been issued at such current market price and the price per
share shall be that number determined by multiplying (a) the price per share in
effect immediately prior to the taking of such record by (b) a fraction, the
numerator of which is the number of shares purchasable hereunder immediately
prior to taking of such record and the denominator of which is the number of
shares purchasable hereunder immediately after the taking of such record;
or

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    (vii)          reduce
the exercise price of any or all classes of warrants, then, as a condition of
such reduction it shall be made uniformly as to all warrants of that class then
outstanding.

    

    For the
purpose hereof, the current market price per share of Common Stock of the
Corporation at any date shall be deemed to be the average of the daily closing
prices for the thirty (30) consecutive business days commencing forty-five (45)
business days before the day in question.  The closing price for each
day shall be the reported last sales price regular way or, in case no such
reported sale takes place on such day, the reported closing bid prices regular
way, in either case on the New York Stock Exchange or, if the Common Stock is
not listed or admitted to trading on such Exchange, on the principal national
securities exchange on which the Common Stock is listed or admitted to trading
(based on the aggregate dollar value of all securities listed or admitted to
trading) or, if not listed or admitted to trading on any national securities
exchange, on the NASDAQ National Market System or the NASDAQ small cap market
or, if the Common Stock is not listed or admitted to trading on any national
securities exchange or quoted on the NASDAQ National Market System or the NASDAQ
small cap market, the last reported sale price or, in case no such reported sale
takes place on such day, the reported closing bid prices in the over-the-counter
market on the electronic bulletin board as reported by Bloomberg Financial
Markets, or in the over-the-counter market as furnished by National Quotation
Bureau, LLC, New York, New York, any New York Stock Exchange member firm
selected from time to time by the Corporation for that purpose, or, if such
prices are not available, the fair market value set by, or in a manner
established by, the Board of Directors of the Corporation in good
faith.  “Trading Day” shall mean a day on which the national
securities exchange or the NASDAQ National Market System used to determine the
closing price is open for the transaction of business or the reporting of trades
or, if the closing price is not so determined, a day on which the New York Stock
Exchange is open for the transaction of business.

    

    
      	
              8.2.

            	
              Conditions
      Precedent

            

    

    

    Before
taking any action that would cause an adjustment increasing the then par value
of the Shares issuable upon exercise of the Warrants above the Exercise Price,
the Company shall have the right to take any corporate action that may, in the
opinion of its counsel, be necessary in order that the Company may validly and
legally issue fully paid and nonassessable Shares at such adjusted Exercise
Price.

     

    
      	
              8.3

            	
              Notice

            

    

    

    Upon any
adjustment of the Exercise Price required to be made pursuant to this Section 8,
within 30 days thereafter the Company shall (a) cause to be filed with the
Warrant Agent written notice thereof, which notice shall be accompanied by a
certificate of the Company’s independent auditors, stating the adjusted Exercise
Price and the adjusted number of Shares purchasable or the kind and amount of
any securities or property purchasable upon exercise of a Warrant, as the case
may be, and setting forth in reasonable detail the method of calculation and the
facts upon which such calculation and the facts upon which such calculation is
based, which certificate shall be conclusive evidence of the correctness of such
adjustment, and (b) cause to be mailed to each of the Registered Holders of the
Warrant Certificates written notice of such adjustment.  Such notice
may be given in advance and included as a part of the notice required to be
mailed pursuant hereto.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    In case
at any time (a) the Company shall declare any dividend upon its Shares payable
otherwise than in cash or in Shares of the Company; or (b) the Company shall
offer for subscription to the holders of its Shares any additional shares of
stock of any class or any other securities convertible into shares of stock or
any rights to subscribe thereto; or (c) there shall be any capital
reorganization or reclassification of the capital stock of the Company, or a
sale of all or substantially all of the assets of the Company, or a
consolidation or merger of the Company with another corporation (other than a
merger in which the Company is the continuing corporation, and which does not
result in any reclassification or change of the then outstanding Shares or other
capital stock issuable upon exercise of the Warrants (other than a change in par
value or a subdivision or combination of such shares)); or (d) there shall be a
voluntary or involuntary dissolution, liquidation or winding up of the Company;
then, in any one or more of said cases, the Company shall cause to be mailed to
each of the Registered Holders of outstanding Warrants, at the earliest
practicable time (and in any event not less than 20 days before any record date
or other date set for definitive action), written notice of the date of which
the books of the Company shall close or a record shall be taken for such
dividend, distribution of, or grant of subscription rights, or such
reorganization, reclassification, sale, consolidation, merger, dissolution,
liquidation, or winding up shall take place, as the case may be.  Such
notice shall also set forth such facts as shall indicate the effect of such
action (to the extent such effect may be known at the date of such notice) on
the kind and amount of the shares of stock and other securities and property
deliverable upon exercise of the Warrants.  Such notice shall also
specify the date as of which the record holders of the Shares shall participate
in said dividend, distribution, or subscription rights or shall be entitled to
exchange their shares for securities or other property deliverable upon such
reorganization, reclassification, sale, consolidation, merger, dissolution,
liquidation or winding up, as the case may be (on which date, in the event of
voluntary or involuntary dissolution, liquidation or winding up of the Company,
the right to exercise the Warrants shall terminate).

    

    Without
limiting the obligation of the Company to provide notice to the Registered
Holders of corporate actions hereunder, it is agreed that failure of the Company
to give notice shall not invalidate such corporate action of the
Company.

    

    

    

    SECTION
9

    CONCERNING
THE WARRANT AGENT

    

    
      	
              9.1.

            	
              Capacity

            

    

    

    The
Warrant Agent acts hereunder as agent and in a ministerial capacity for the
Company, and its duties shall be determined solely by the provisions
hereof.  The Warrant Agent shall not, by issuing and delivering
Warrants or by any other act hereunder, be deemed to make any representations as
to (i) the validity or value or authorization of (A) the Warrant or the Warrants
represented thereby, or (B) any securities or other property delivered upon
exercise of any Warrant; or (ii) whether any Shares of capital stock issued upon
exercise of any Warrant is fully paid and nonassessable.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    
      	
              9.2.

            	
              Limitations
      of Responsibility

            

    

    

    The
Warrant Agent shall not, at any time, be under any duty or responsibility to any
Registered Holder of Warrants (i) to make or cause to be made any adjustment of
the Exercise Price provided in this Agreement; (ii) to determine whether any
fact exists that may require any such adjustments; (iii) to determine the nature
or extent of any such adjustment, when made; or (iv) to determine the method
employed in making any such adjustment.

    

    The
Warrant Agent shall not be (i) liable for any recital or statement of fact
contained herein or for any action taken, suffered, or omitted by it in reliance
on any Warrant or other document or instrument believed by it in good faith to
be genuine, and to have been signed or presented by the proper party or parties,
(ii) responsible for any failure on the part of the Company to comply with any
of its covenants and obligations contained in this Agreement or in any Warrant,
or (iii) liable for any act or omission in connection with this Agreement except
for its own negligence or willful misconduct.

    

    
      	
              9.3.

            	
              Advice
      of Counsel

            

    

    

    The
Warrant Agent, may, at any time, consult with counsel satisfactory to it (who
may be counsel for the Company) and shall incur no liability or responsibility
for any action taken, suffered or omitted by it in good faith in accordance with
the opinion or advice of such counsel.

    

    
      	
              9.4.

            	
              Effect
      of Order of the Company

            

    

    

    Any
notice, statement, instruction, request, direction, order, or demand of the
Company shall be sufficiently evidenced by an instrument signed by any of the
Chairman of the Board, President, Secretary, or Assistant Secretary (unless
other evidence in respect thereof is herein specifically
prescribed).  The Warrant Agent shall not be liable for any action
taken, suffered, or omitted by it in accordance with such notice, statement,
instruction, request, direction, order, or demand.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    
      	
              9.5.

            	
              Compensation
      and Fees

            

    

    

    The
Company agrees to pay the Warrant Agent reasonable compensation for its services
hereunder and to reimburse it for its reasonable expenses hereunder, which
compensation shall be in accordance with the fee schedule attached as Exhibit
“B” hereto for the first year during which this Agreement is in force, exclusive
of expenses and such amount as shall be mutually agreed upon by the parties
hereto during subsequent years; it further agrees to indemnify the Warrant Agent
and save it harmless against any and all losses, expenses and liabilities,
including judgments, costs and counsel fees, for anything done or omitted by the
Warrant Agent in the execution of its duties and powers hereunder except losses,
expenses, and liabilities arising as a result of the Warrant Agent’s negligence
or willful misconduct.

    

    
      	
              9.6.

            	
              Resignation

            

    

    

    The
Warrant Agent may resign its duties and be discharged from all further duties
and liabilities hereunder (except liabilities arising as a result of the Warrant
Agent’s own negligence or willful misconduct), after giving 30 days’ prior
written notice to the Company.  At least 15 days’ prior to the date
such resignation is to become effective, the Warrant Agent shall cause a copy of
such notice of resignation to be mailed to the Registered Holder of each Warrant
at the Company’s expense.  Upon such resignation the Company shall
appoint a new warrant agent in writing.  If the Company shall fail to
make such appointment within a period of 30 days after it has been notified in
writing of such resignation by the resigning Warrant Agent, then the Registered
Holder of any Warrant may apply to any court of competent jurisdiction for the
appointment of a new warrant agent.  Any new warrant agent, whether
appointed by the Company or by such court, shall be (i) a bank or trust company
having a capital and surplus, as shown by its last published report to its
stockholders, of not less than $10,000,000 or (ii) a stock transfer
company.  After acceptance of such appointment by the new warrant
agent is received by the Company, such new warrant agent shall be vested with
the same powers, duties, rights, and responsibilities as if it had been
originally named herein as Warrant Agent, without any further assurance,
conveyance, act or deed; but if for any reason it shall be necessary or
expedient to execute and deliver any further assurance, conveyance, act, or
deed, the same shall be done at the expense of the Company and shall be legally
and validly executed and delivered by the resigning warrant agent.  No
later than the effective date of any such appointment, the Company shall file
notice thereof with the resigning warrant agent and shall forthwith cause a copy
of such notice to be mailed to the Registered Holder of each
Warrant.

    

    
      	
              9.7.

            	
              Termination

            

    

    

    The
Company may terminate the Warrant Agent hereunder and be discharged from all
further duties and liabilities hereunder (except liabilities for the Warrant
Agent’s then-due compensation and expenses), after giving 90 days’ prior written
notice to the Warrant Agent.

    

    
      	
              9.8.

            	
              Successors

            

    

    

    Any
corporation into which the Warrant Agent or any new warrant agent may be
converted or merged, or any corporation resulting from any consolidation to
which the Warrant Agent (or any new warrant agent) shall be a party, or any
corporation succeeding to the corporate trust business of the Warrant Agent
shall be a successor warrant agent under this Agreement without any further act,
provided that such corporation is eligible for appointment as successor to the
Warrant Agent under the provisions of the preceding paragraph
10.6.  Any such successor warrant agent shall promptly cause notice of
its succession as warrant agent to be mailed to the Company and to the
Registered Holder of each Warrant.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    
      	
              9.9.

            	
              Permitted
      Transactions

            

    

    

    The
Warrant Agent, its subsidiaries and affiliates, and any of its or their officers
or directors, may buy and hold or sell Warrants or other securities of the
Company and otherwise deal with the Company in the same manner and to the same
extent as though the Warrant Agent were not the warrant agent
hereunder.  Nothing herein shall preclude the Warrant Agent from
acting in any other capacity for the Company or for any other legal
entity.

    

    

    SECTION
10

    RIGHTS
OF THE REGISTERED HOLDER

    

    No
Registered Holder shall, by virtue hereof, be entitled to any rights of a
shareholder in the company, either at law or equity.  The rights of
the Registered Holder are limited to those expressed in the Warrant and are not
enforceable against the Company except to the extent set forth in this Agreement
and in the Warrant Certificates.

    

    

    SECTION
11

    GENERAL
PROVISIONS

    

    
      	
              11.1.

            	
              Entire
      Agreement; Modification; Waivers.

            

    

    

    This
Agreement contains the entire agreement of the parties, and supersedes any prior
agreements with respect to its subject matter. Except for the provisions of
subsection 4.2, the Warrant Agent and the Company, by supplemental agreement,
may make any changes in this Agreement (i) that they shall deem appropriate to
cure any ambiguity or to correct any defective or inconsistent provision or
manifest mistake or error herein contained; or (ii) that they may deem necessary
or desirable and that shall not adversely affect the interests of the Registered
Holders of Warrant Certificates (this provision, for instance, shall permit the
Exercise Price to be decreased at the Company’s option).

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    
      	
              11.2.

            	
              Notices.

            

    

    

    All
notices given under this Agreement shall be in writing, addressed to the parties
as set forth below, and shall be effective on the earliest of (i) the date
received, or (ii) on the second business day after delivery to a major
international air delivery or air courier service (such as Federal Express or
Network Couriers):

    

    
      	
              If
      to the Company:

            	
              If
      to the Registered Holder:

            	
              If to the Warrant
      Agent:

            
	 
      	 
      	 
      
	
              ___________________

            	
              At
      the address of such

            	
              12000
      Westheimer

            
	
              ___________________

            	
              holder
      as shown on the

            	
              Suite
      340

            
	 
      	
              registry
      books maintained

            	
              Houston,
      Texas 77077

            
	 
      	
              by
      the Warrant Agent

            	 
      

    

    

    

    

    
      	
              11.3.

            	
              Governing
      Law.

            

    

    

    This
Agreement shall be governed by, and construed in accordance with, the laws of
the State of Texas; provided,
however, that if any provision of this Agreement is unenforceable under
such law but is enforceable under the laws of the State of Nevada, then Nevada
law shall govern the construction and enforcement of that
provision.

    

    
      	
              11.4.

            	
              Jurisdiction
      and Venue.

            

    

    

    The
courts of the State of Texas located in Harris County, Texas (the “Texas
Courts”) shall have exclusive jurisdiction to hear, adjudicate, decide,
determine and enter final judgment in any action, suit, proceeding, case,
controversy or dispute, whether at law or in equity, and whether in contract or
tort, arising out of or related to this Agreement, or the construction or
enforcement hereof.  The Company and the Registered Holder hereby
irrevocably consent and submit to the exclusive personal jurisdiction of the
Teas Courts to hear, adjudicate, decide, determine and enter final
judgment.  If any case is brought or maintained in any court other
than the Texas Courts, then that court shall, at the request of the Company or
the Registered Holder, dismiss that action.

    

    
      	
              11.5.

            	
              Specific
      Performance.

            

    

    

    The
Company hereby acknowledges and agrees that it is difficult, if not impossible
to measure in money the damages that will accrue to the Registered Holder by
reason of a failure to issue the Shares under this Agreement, and that the
Registered Holder may seek to specifically enforce the Company’s obligation to
issue the Shares.   Therefore, if the Registered Holder shall
institute any action or proceeding to enforce the provisions hereof, the Company
hereby waives all claims or defenses therein that the Registered Holder has an
adequate remedy at law, and hereby agrees not to assert or otherwise raise any
such claim or defense.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    
      	
              11.6.

            	
              Waiver
      of Jury Trial.

            

    

    

    The
Company and the Registered Holder hereby waive trial by jury in any Related
Action.

    

    
      	
              11.7.

            	
              Attorney’s
      Fees.

            

    

    

    The
prevailing party in any Related Action shall be entitled to recover that party’s
costs of suit, including reasonable attorney’s fees.

    

    
      	
              11.8.

            	
              Binding
      Effect.

            

    

    

    This
Agreement shall be binding on, and shall inure to the benefit of the parties and
their respective successors in interest.

    

    
      	
              11.9.

            	
              Construction,
      Counterparts.

            

    

    

    This
Agreement shall be construed as a whole and in favor of the validity and
enforceability of each of its provisions, so as to carry out the intent of the
parties as expressed herein. Heading are for the convenience of reference, and
the meaning and interpretation of the text of any provision shall take
precedence over its heading. This Agreement may be signed in one or more
counterparts, each of which shall constitute an original, but all of which,
taken together shall constitute one agreement. A faxed copy or photocopy of a
party’s signature shall be deemed an original for all purposes.

    

    IN
WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly
executed, as of the day and year first above written.

    

    
      	
              The
      Company:

            	 
      	
              The
      Warrant Agent:

            
	 
      	 
      	 
      	 
      	 
      
	
              The
      Mint Leasing, Inc.

            	 
      	
              Hunter
      M. A. Carr

            
	 
      	 
      	 
      	 
      	 
      
	
              By

            	
              /s/ Jerry Parish

            	 
      	
              By

            	
              /s/ Hunter M.A. Carr

            
	 
      	
              Printed
      Name: Jerry Parish

            	 
      	
            	Printed
      Name: Hunter M.A. Carr
	 
      	
              Title:
      President

            	 
      	
               

            	Title:

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    EXHIBIT
A

    FORM
OF WARRANT CERTIFICATE

    

    

    

    
      	
              Number  WA
      _____

            	
              _____________  Warrants

            

    

    EXERCISABLE
FROM 9:00 A.M., NEW YORK TIME,

    
      	 
      	
              ON
      _____________, UNTIL

            	
              CUSIP  _____________

            

    

    5:00
P.M., NEW YORK TIME, ____________

    The
Mint Leasing, Inc.

    INCORPORATED
UNDER THE LAWS OF THE STATE OF NEVADA

    

    
      	
              This
      certifies that

            
	 
      
	 
      
	
              is
      the owner of

            

    

    

    WARRANTS,
EACH TO PURCHASE ONE FULLY PAID AND NON-ASSESSABLE SHARE OF COMMON STOCK, $.001
PAR VALUE, OF

    

    The
Mint Leasing, Inc. at the initial Exercise Price of $____.___per
share.  Payment of the Purchase Price shall be paid in the manner, at
the time and on the terms and conditions specified in this Warrant and the
Warrant Agreement.  The certificate or certificate shall be registered
in the name specified in the notice of exercise free and clear of any legend,
restriction or stop order.  This Warrant is transferable on the books
of the Company by the holder hereof in person or by duly authorized attorney
upon surrender of this certificate properly endorsed.

    

    Witness
the manual or facsimile signatures of the Company’s duly authorized officers,
countersigned by the Warrant Agent.

    

    Dated:  ________________________

    

    [SEAL]

    

    /s/ Jerry
Parish

    
      	
              ___________________,
      Secretary

            	
                    
      /s/ Jerry Parish     , President &
      CEO

            

    

    

    

    

    Exhibit A
– Page 1

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    ASSIGNMENT

    

    FOR VALUE
RECEIVED the undersigned Registered Holder of the within Warrant hereby sells,
assigns, and transfers unto the Assignee(s) named below (including the
undersigned with respect to any part of the Warrant not being assigned hereby)
all of the right of the undersigned under the within Warrant, with respect to
the number of shares of Common Stock set forth below:

    

    
      	
               

              Name
      of Assignee

            	
              Address
      of Assignee

            	
               

               

              Social
      Security or Other Identifying Number of Assignee

            	
              Number
      of Shares of Common Stock Assigned to Assignee

            
	
               
      

               

            	 
      	 
      	 
      
	
               
      

               

            	 
      	 
      	 
      

    

    

    and does
hereby irrevocably constitute and appoint ______________________ as the
undersigned’s attorney to make such transfer on the books of the Warrant Agent
and maintained for that purpose, with full power of substitution in the
premises.

    Date:  ______________,
20___

    
      	 
      	 
      
	 
      	
              (Signature
      of Registered Holder)1

            
	 
      	 
      
	 
      	
              (Street
      Address)

            	 
      	 
      
	 
      	 
      
	 
      	
              (City)

            	
              (State)

            	
              (Zip
      Code)

            

    

    

    NOTICE
OF EXERCISE

    To:  The
Mint Leasing, Inc.

    The
undersigned irrevocably exercises this Warrant for the purchase of ____________
shares (subject to adjustment) of Common Stock of The Mint Leasing, Inc. (the
“Company”): for this Warrant and agrees to make payment of $____________________
(the “Purchase Price”) in the manner specified in the Warrant Agreement, all at
the Exercise Price and on the terms and conditions specified in this Warrant and
the Warrant Agreement, and requests that a certificate for such Shares be
registered in the name of _______________________________ whose address is
_____________________________, and that such certificate be delivered to
___________________, whose address is
__________________________________.

    

    If said
number of Shares is less than all of the Shares purchasable hereunder, the
undersigned requests that a new Warrant Certificate representing the remaining
balance of the Shares be registered in the name of ___________________, whose
address is _________________________________ and that such Certificate be
delivered to ______________, whose address is
______________________________.

    

    

    Date:  ________________,
20___

    
      	 
      	 
      	 
      	 
      	 
      
	 
      	
              (Signature
      of Registered Holder)1

            	 
      
	 
      	 
      	 
      	 
      	 
      
	 
      	
              (Street
      Address)

            	 
      
	 
      	 
      	 
      	 
      	 
      
	 
      	
              (City)

            	
              (State
      or Province)     

            	
              (Zip
      Code)

            	 
      
	 
      	 
      	 
      	 
      	 
      
	 
      	
              (Country)

            	 
      	 
      	 
      

    

    
 

     _____________________________

     

    
      	
              1

            	
              The
      signature must correspond with the name as written upon the face of the
      within Warrant in every particular, without alteration or enlargement or
      any change whatever.

            

    

     

     

     

    
      Exhibit A
– Page 2

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