Document:

exhibit4_1.htm

    
      

    

    EXHIBIT
      4.1

     

     

    AMARIN
      CORPORATION PLC

     

    2002
      STOCK OPTION PLAN

     

    (As
      amended by ordinary resolutions of the Company passed on January 25, 2003,
      July
      25, 2005, January 25, 2007 and July 19, 2007)

     

    Section
      1.                      Purpose

     

    The
      Amarin Corporation plc 2002 Stock Option Plan, (the “Plan”) is intended to
      promote the interests of Amarin Corporation plc (the “Company”) and its
      shareholders by aiding the Company in attracting and retaining Employees,
      officers, Consultants, independent contractors and non-Employee Directors
      capable of assuring the future success of the Company, offering such persons
      incentives to put forth maximum efforts for the success of the Company’s
      business and affording such persons an opportunity to acquire a proprietary
      interest in the Company.  The Plan will provide a means by which
      Eligible Persons may acquire Shares of the Company pursuant to Awards to
      purchase a specified number of Shares, subject to the conditions and
      restrictions contained herein. This Plan is subject to approval
      by the shareholders of the Company within 12 months before or after this Plan
      is
      adopted by the Board.  Any Shares purchased before shareholder
      approval is obtained shall be rescinded if shareholder approval is not obtained
      within 12 months before or after this Plan is adopted.  Such Shares
      shall not be counted in determining whether such approval is
      obtained.

     

    Section
      2.                      Definitions

     

    As
      used
      in the Plan, the following terms shall have the meanings set forth
      below:

     

    (a)           “ADSs”
      shall mean the American Depositary Shares, representing ordinary shares of
      the
      Company, issued under the Company’s American Depositary Receipt
      facility.

     

    (b)           “Affiliate”
      shall mean (i) any entity that, directly or indirectly through one or more
      intermediaries, is controlled by the Company and (ii) any entity in which the
      Company has a significant equity interest, in each case as determined by the
      Committee.

     

    (c)           “Applicable
      Laws” means the legal and regulatory requirements relating to stock options, if
      any, pursuant to English Law, U.S. state corporate laws, U.S. federal and state
      securities laws, the Code and the rules of any applicable stock
      exchange.

     

    (d)           “Award”
      shall mean an award of any Option granted under the Plan.

     

    (e)           “Award
      Agreement” shall mean any written agreement, contract or other instrument or
      document evidencing any Award granted under the Plan.

     

    (f)           “Board”
      shall mean the Board of Directors of the Company.

     

    (g)           “Cause”
      shall mean willful misconduct with respect to, or that is harmful to, the
      Company or any of its Affiliates including, without limitation, dishonesty,
      fraud, unauthorized use or disclosure of confidential information or trade
      secrets or other misconduct (including, without limitation, conviction for
      a
      felony), in each case as reasonably determined by the Committee.

     

    (h)           “Code”
      shall mean the United States of America Internal Revenue Code of 1986 as amended
      from time to time, and any regulations promulgated thereunder.

     

    (i)           “Committee”
      shall mean the Remuneration Committee of Directors designated by the Board
      to
      administer the Plan.

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    (j)           “Company”
      shall mean Amarin Corporation plc (an English company, registered number
      2353920) and any successor corporation.

     

    (k)           “Consultant”
      means any person, including an advisor or Director, who is engaged by the
      Company or any Affiliate including any Parent or Subsidiary to render services
      and who is not an Employee.

     

    (l)           “Continuous
      Status as an Employee or Consultant” means the absence of any interruption or
      termination of service as an Employee or Consultant.  Continuous
      Status as an Employee or Consultant shall not be considered interrupted in
      the
      case of:  (i) vacation, sick leave, military leave or any other leave
      of absence approved by Company management or the Committee, provided that such
      leave is for a period of not more than ninety (90) days or such longer period
      as
      is separately approved by the Committee, unless re-employment upon the
      expiration of such leave is guaranteed by contract or statute, or unless
      provided otherwise pursuant to Company policy adopted from time to time; (ii)
      transfers between locations of the Company or between the Company, its
      Affiliates or their respective successors; or (iii) a change in status from
      an
      Employee to a Consultant or from a Consultant to an Employee.

     

    (m)           “Control”
      means the ownership of more than (40)% of the issued share capital or other
      equity interest of the Company or the legal power to direct or cause the
      direction of the general management and policies of the Company.

     

    (n)           “Director”
      shall mean a member of the Board.

     

    (o)           “Eligible
      Person” shall mean any Employee, officer, Consultant, independent contractor or
      Director providing services to the Company or any Affiliate whom the Committee
      determines to be an Eligible Person.

     

    (p)           “Employee”
      means any person, including officers and/or Directors (who meet the requirements
      of this Section), employed by the Company or any Affiliate of the Company,
      with
      the status of employment determined based upon such minimum number of hours
      or
      periods worked as shall be determined by Company management or the Committee
      in
      its discretion, subject to any requirements of the Code.  The payment
      of a Director’s fee by the Company to a Director shall not alone be sufficient
      to constitute “employment” of such Director by the Company.

     

    (q)           “Fair
      Market Value” shall mean, as of any date, the fair market value of Shares
      determined as follows:

     

    (i)           If
      the Shares are listed on any established stock exchange or a national market
      system, including without limitation the National Market of the National
      Association of Securities Dealers, Inc. Automated Quotation System (“NASDAQ”),
      its Fair Market Value shall be the closing sales price for such stock (or the
      closing bid, if no sales were reported) as quoted on such system or exchange,
      or, if there is more than one such system or exchange, the system or exchange
      with the greatest volume of trading in Shares for the last market trading day
      prior to the time of determination, as reported in The Wall Street Journal
      or
      such other source as the Committee deems reliable;

     

    (ii)           If
      the Shares are quoted on the NASDAQ (but not on the National Market thereof)
      or
      regularly quoted by a recognized securities dealer but selling prices are not
      reported, its Fair Market Value shall be the mean between the high bid and
      low
      asked prices for the Shares for the last market trading day prior to the time
      of
      determination, as reported in The Wall Street Journal or such other source
      as
      the Committee deems reliable; or

     

    (iii)           In
      the absence of an established market for the Shares, the Fair Market Value
      thereof shall be determined in good faith by the Committee.

     

    (r)           “Grant
      Date” shall mean the date on which the Option is granted to the Optionee by the
      Committee , as set forth in the Award Agreement.

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    (s)           “Incentive
      Stock Option” shall mean an option granted under Section 6(a) of the Plan that
      is intended to meet the requirements of Section 422 of the Code or any successor
      provision.

     

    (t)           “Non-Qualified
      Stock Option” shall mean an option granted under Section 6(a) of the Plan that
      is not intended to be an Incentive Stock Option.

     

    (u)           “Option”
      shall mean an Incentive Stock Option or a Non-Qualified Stock
      Option.

     

    (v)           “Optionee”
      shall mean a Participant who has been granted an Option.

     

    (w)           “Parent”
      shall have the meaning set forth in Section 424(e) of the Code or any successor
      provision.

     

    (x)           “Participant”
      shall mean an Eligible Person designated to be granted an Award under the
      Plan.

     

    (y)           “Person”
      shall mean any individual, corporation, partnership, association or
      trust.

     

    (z)           “Plan”
      shall mean the Amarin Corporation plc 2002 Stock Option Plan, as amended from
      time to time, the provisions of which are set forth herein.

     

    
      	
               

            	
              (aa)

            	
              “Share”
                or “Shares” shall mean the Company’s ordinary shares of £0.05 each or any
                ADSs (or equivalent security) as the case may be. If at any time
                ADSs are
                registered under the Securities Exchange Act of 1934, at least two
                members
                of the Committee shall qualify as non-Employee Directors within the
                meaning of Securities and Exchange Commission Regulation Section
                240.16b-3.

            

    

     

    
      	
               

            	
              (bb)

            	
              “Subsidiary”
                of the Company shall have the meaning set forth in Section 424(f)
                of the
                Code or any successor provision.

            

    

     

    Section
      3.                      Administration

     

    (a)           Power
      and Authority of the Committee.  The Plan shall be administered by
      the Committee.  Subject to the express provisions of the Plan and to
      applicable law, the Committee shall have full power and authority
      to:

     

    (i)           determine
      the Fair Market Value of the Shares, in accordance with the provisions of the
      Plan;

     

    (ii)           select
      the Eligible Persons to whom Awards may from time to time be granted
      hereunder;

     

    (iii)           determine
      whether and to what extent Awards are granted hereunder;

     

    (iv)           grant
      Awards and to determine the exercise price of each Option, the term of each
      Option, the number and type of Shares to be covered by
      each such Award the vesting standards applicable to each such Option and any
      other terms, conditions and/or restrictions applicable to each such
      Award;

     

    (v)           approve
      forms of agreement for use under the Plan;

     

    (vi)           construe
      and interpret the terms of the Plan and Awards granted under the
      Plan;

     

    (vii)           determine
      whether and under what circumstances an Award may be settled in Shares or other
      consideration instead of cash; and

     

    (viii)           make
      any other determination and take any other action that the Committee deems
      necessary or desirable for the administration of the Plan.

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    Unless
      otherwise expressly provided in the Plan, all designations, determinations,
      interpretations and other decisions under or with respect to the Plan or any
      Award shall be within the sole discretion of the Committee, may be made at
      any
      time and shall be final, conclusive and binding upon any Participant, any holder
      or beneficiary of any Award and any employee of the Company or any
      Affiliate.

     

    (b)           Delegation.  The
      Committee may delegate its powers and duties under the Plan to one or more
      Directors or to one or more officers of the Company, subject to such terms,
      conditions and limitations as the Committee may establish in its sole
      discretion.  The Committee may also employ attorneys, consultants,
      accountants or other professional advisors and shall be entitled to rely upon
      the advice, opinions or valuations of any such advisors.

     

    (c)           Power
      and Authority of the Board of Directors.  Notwithstanding anything
      to the contrary contained herein, the Board may, at any time and from time
      to
      time, without any further action of the Committee, exercise the powers and
      duties of the Committee under the Plan.

     

    (d)           Effect
      of Committee’s Decision.  All decisions, determinations and
      interpretations of the Committee shall be final and binding on all
      Participants.

     

    (e)           Liability;
      Indemnification.  No member of the Committee, no member of the
      Board, or any individual  to whom duties have been delegated, shall be
      personally liable for any action, interpretation or determination made with
      respect to the Plan or Awards made thereunder, and each member of the Committee
      and of the Board shall be fully indemnified and protected by the Company with
      respect to any liability he or she may incur with respect to such action,
      interpretation or determination, to the extent permitted by applicable
      law.

     

    Section
      4.                      Shares
      Available for Awards

     

    (a)           Shares
      Available.  Subject to adjustment as provided in Section 4(c)
      of the Plan, the Plan may issue up to 18 million Shares* under all Awards (“the
      Plan Limit”).  Shares to be issued under the Plan may be either
      authorized but unissued Shares, or Shares acquired in the open market or
      otherwise.   If any Shares covered by an Award under the Plan
      expire or are forfeited, surrendered, canceled or otherwise terminated without
      being exercised in whole or in part, then the Shares as to which such Award
      was
      not exercised may, at the discretion of the Committee, be made available for
      subsequent grants under the Plan. Notwithstanding the foregoing, the number
      of
      Shares available for granting Incentive Stock Options under the Plan shall
      not
      exceed the Plan Limit, subject to adjustment as provided in the Plan and subject
      to the provisions of Section 422 or 424 of the Code or any successor
      provisions.

     

    *
      by
      virtue of ordinary resolutions of the Company in general meeting, the Plan
      Limit
      was increased from  2 million to 4 million on July 25, 2003, from 4
      million to 8 million on July 25, 2005, from 8 million to 12 million on January
      25, 2007 and from 12 million to 18 million on July 19, 2007.

    

    (b)           Accounting
      for Awards.  For purposes of this Section 4, if an Award entitles
      the holder thereof to receive or purchase Shares, the number of Shares covered
      by such Award or to which such Award relates shall be counted on the Grant
      Date of such Award against the aggregate number of Shares
      available for granting Awards under the Plan.

     

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    (c)           Adjustments.  In
      the event that the Committee shall determine that any dividend or other
      distribution (whether in the form of cash, Shares, other securities or other
      property), recapitalization, stock split, reverse stock split, reorganization,
      merger, consolidation, split-up, spin-off, combination, repurchase or exchange
      of Shares or other securities of the Company, issuance of warrants or other
      rights to purchase Shares or other securities of the Company or other similar
      corporate transaction or event affects the Shares such that an adjustment is
      determined by the Committee to be appropriate in order to prevent dilution
      or
      enlargement of the benefits or potential benefits intended to be made available
      under the Plan, then the Committee shall, in such manner as it may deem
      equitable, adjust any or all of (i) the number and type of Shares (or other
      securities or other property) that thereafter may be made the subject of Awards,
      (ii) the number and type of Shares (or other securities or other property)
      subject to outstanding Awards and (iii) the purchase or exercise price with
      respect to any Award; provided, however, that the number of Shares
      covered by any Award or to which such Award relates shall always be a whole
      number.

     

    Section
      5.                      Eligibility

     

    Any
      Eligible Person shall be eligible to be designated a Participant.  In
      determining which Eligible Persons shall receive an Award and the terms of
      any
      Award, the Committee may take into account the nature of the services rendered
      by the respective Eligible Persons, their present and potential contributions
      to
      the success of the Company or such other factors as the Committee, in its
      discretion, shall deem relevant.

     

    Section
      6.                      Awards

     

    (a)           Options.  The
      Committee is hereby authorized to grant Options to Participants with the
      following terms and conditions and with such additional terms and conditions
      not
      inconsistent with the provisions of the Plan as the Committee shall
      determine:

     

    (i)           Option
      Grant.  Options granted herein may be either Incentive Stock
      Options within the meaning of Section 422 of the Code, as amended or
      Non-Qualified Stock Options.  Incentive Stock Options may only be
      granted to full or part-time Employees (which term as used herein includes,
      without limitation, officers and Directors who are also Employees), and an
      Incentive Stock Option shall not be granted to an Employee of an Affiliate
      unless such Affiliate is also a Subsidiary or Parent of the
      Company.  Any Option not designated as an Incentive Stock Option shall
      be deemed a Non-Qualified Stock Option.  In addition, if at any time
      an Option designated as an Incentive Stock Option fails to meet the requirements
      of Section 422 of the Code, it shall be redesignated as a Non-Qualified Stock
      Option on the date of such failure for income tax purposes automatically without
      further action by the Committee.  Subject to the provisions of the
      Plan, the Committee shall, from time to time, determine the terms, conditions
      and restrictions upon which Options shall be granted.

     

    (ii)           Award
      Agreement.  As a condition to the grant of an Award, the Optionee
      and the Company shall execute a written agreement containing such restrictions,
      terms, and conditions, if any, as the Committee may require.  In the
      event of any express conflict between the terms and provisions of an Award
      Agreement and those of the Plan, the terms, provisions and restrictions of
      the
      Plan shall govern.  In the event the Plan is silent as to a term,
      provision or restriction contained in the Award Agreements, the terms,
      provisions or restrictions of the Award Agreement shall
      govern.  Similarly, in the event the Award Agreement is silent as to a
      term, provision or restriction contained in the Plan, the terms, provisions
      or
      restrictions of the Plan shall govern.

     

    (iii)           Exercise
      Price. Subject to the adjustment provisions above, the
      purchase price per Share purchasable under an Option shall be determined by
      the
      Committee; provided, however, that such purchase price shall not
      be less than 100% of the Fair Market Value of a Share on the Grant Date of
      such
      Option.

     

    (iv)           Consideration.  The
      consideration to be paid for the Shares to be issued upon exercise of an Option,
      including the method of payment, shall be determined by the Committee and may
      consist entirely of (a) cash or check, (b) for nonqualified stock options only,
      cancellation of indebtedness of the Company to Optionee, (c) for nonqualified
      stock options only, promissory note (subject to approval by the Company, and
      provided that such note is for a term of not greater than five years and
      provides for a fair market rate of interest), (d) surrender of other Shares
      that
      (i) have been owned by Optionee for more than six months on the date of
      surrender or such other period as may be required to avoid a charge to the
      Company’s earnings, and (ii) have a Fair Market Value on the date of surrender
      equal to the aggregate exercise price of Shares to be purchased by Optionee
      as
      to which such Option shall be exercised, (e) if there is a public market for
      the
      Shares and they are registered under the Securities Act, delivery of a properly
      executed exercise notice together with such other documentation as the Committee
      and the broker, if applicable, shall require to effect an exercise of the Option
      and delivery to the Company of the sale or loan proceeds required to pay the
      aggregate exercise price and any applicable income or employment taxes, (f)
      any
      combination of the foregoing methods of payment, or (g) such other consideration
      and method of payment for the issuance of Shares to the extent permitted under
      Applicable Laws and as determined by the Committee.  In making its
      determination as to the type of consideration to accept, the Committee shall
      consider if acceptance of such consideration may be reasonably expected to
      benefit the Company or result in the recognition of compensation expense (or
      additional compensation expense) for financial reporting purposes.

     

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    
      	
               

            	
              (v)

            	
              Option
                Term.  Except as otherwise provided herein, each Option
                shall have a term of ten years from the Grant Date of such
                Option.

            

    

    

    (vi)           Time
      and Method of Exercise.  The Committee shall determine the time or
      times at which an Option may be exercised in whole or in part.

     

    (vii)           Vesting
      Schedule.  Except as authorized by the Committee as permitted
      under the terms of this Plan, no Option will be exercisable until it has
      vested.  The Committee will specify the vesting schedule for each
      Option at Grant Date, provided that if no vesting schedule is specified at
      the
      time of grant, the Option shall vest in full over the course of three years
      from
      Grant Date as follows:

     

    (A)           thirty
      three percent (33%) of the total number of Shares granted under the Option
      shall
      vest  on the first anniversary of Grant Date;

     

    (B)           thirty
      three percent (33%) of the Shares granted under the Option shall vest on the
      second anniversary of Grant Date; and

     

    (C)           thirty
      four percent (34%) of the Shares granted under the Option shall vest on the
      third anniversary of Grant Date

     

    The
      Committee may specify a vesting schedule for all or any portion of an Option
      based on the achievement of performance objectives with respect to the Company,
      an Affiliate, Parent, Subsidiary and/or Optionee, and as shall be permissible
      under the terms of the Plan.

     

    (viii)           Acceleration
      of Vesting. If any person or company (either alone or together with any
      person or company acting in concert with him or it) (an “Acquiring
      Company”):-

     

    (A)           obtains
      Control of the Company, or

     

    (B)           having
      such Control, makes a general offer to acquire all the Shares of the Company
      (other than those which are already owned by him and/or any person acting in
      concert with him),

     

    then,
      in
      the event of a Change of Control any part of any Option that has not vested
      at
      the date of such change shall be deemed to vest immediately before such Change
      of Control and all Options will, unless otherwise agreed between the
      shareholders of the Company and the Acquiring Company, thereafter lapse twelve
      months following the Change of Control.

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    The
      Committee may additionally also accelerate the vesting of one or more
      outstanding Options at such times and in such amounts as it determines in its
      sole discretion

     

    (ix)           Replacement
      of Options. If an Acquiring Company obtains Control of the Company as a
      result of making:

     

    (A)           a
      general offer to acquire the whole of the issued share capital of the Company
      (other than that which is already owned by the Acquiring Company and/or by
      its
      holding company and/or any subsidiary of it or its holding company) which is
      made on a condition such that if it is satisfied the person making the offer
      will have Control of the Company or otherwise obtains Control of the Company
      through any other form of general offer; or

     

    (B)           obtains
      Control of the Company in pursuance of a compromise or arrangement sanctioned
      by
      the Court under section 425 of the UK Companies Act 1985; or

     

    (C)           becomes
      bound or entitled to acquire the Shares under sections 428 to 430F of the UK
      Companies Act 1985;

     

    then
      any
      Optionee may at any time within the appropriate period, by agreement with the
      Acquiring Company, release each subsisting Option he holds which has not lapsed
      in accordance with any other provisions of this Plan (‘the Old Option’) in
      consideration of the grant to him of a new Option (‘the New
      Option’).  ‘The appropriate period’ means; in a case falling within
      (A) above, the period of twelve months beginning with the time when the
      Acquiring Company has obtained Control of the Company and any condition subject
      to which the offer is made is satisfied; in a case falling within (B) above,
      the
      period of twelve months beginning with the time when the court sanctions the
      compromise or arrangement; and in a case falling within (C) above, the period
      during which the Acquiring Company remains bound or entitled as mentioned in
      that paragraph.

     

    The
      New
      Option shall:

    

    (A)           be
      over shares in the Acquiring Company, a company having Control over the
      Acquiring Company, or a company which is or has Control of a company which
      is a
      member of a consortium owning either the Acquiring Company or a company having
      control of the Acquiring Company;

     

    (B)           have
      an Option price calculated by reference to the consideration paid for the issued
      Shares of the Company such that all  the Optionee’s Shares under
      option are valued in the same manner as the issued shares of the Company so
      acquired by the Acquiring Company;

     

    (C)           be
      otherwise identical in terms to the Old Option; and

     

    (D)           for
      all other purposes of the Plan, be treated as having been acquired at
      the  same time as the Old Option in consideration of the release of
      which it is granted.

     

    (x)           Procedure
      for Exercise; Rights as a Shareholder.  An Option shall be deemed
      to be exercised when (A) written notice of such exercise has been given to
      the
      Company in accordance with the terms of the Option by the person entitled to
      exercise the Option and the Company has received full payment for the Shares
      with respect to which the Option is exercised; and (B) (where appropriate)
      the
      Participant has received clearance to exercise such Option in accordance with
      the Company’s share dealing code. An Option may not be exercised for a fraction
      of a Share.  Full payment may, as authorized by the Committee, consist
      of any consideration and method of payment as described above.  Until
      the issuance (as evidenced by the appropriate entry on the books of the Company
      or of a duly authorized transfer agent of the Company) of the stock certificate
      evidencing such Shares, no right to vote or receive dividends or any other
      rights as a shareholder shall exist with respect to the Shares subject to the
      Option, notwithstanding the exercise of the Option.  The Company shall
      issue (or cause to be issued) such stock certificate within 28 days upon
      exercise of the Option. Exercise of an Option in any manner shall result in
      a
      decrease in the number of Shares that thereafter may be available, both for
      purposes of the Plan and for sale under the Option, by the number of Shares
      as
      to which the Option is exercised.

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    (xi)           Effect
      of Termination.

     

    (A)           Termination
      for Cause.  Notwithstanding the above, and unless otherwise
      determined by the Committee, if a Participant’s Continuous Status as an Employee
      or Consultant is terminated for Cause the Option shall expire immediately,
      and
      shall not be exercisable with respect to any additional Shares covered by the
      Option.

     

    (B)           Death
      or Disability.  Unless otherwise determined by the Committee, if
      a Participant’s Continuous Status as an Employee or Consultant is terminated by
      reason of death or permanent and total disability, to the extent the Option
      is
      then vested and exercisable, it shall be exercisable for twelve months following
      the date of the Optionee’s death or permanent and total
      disability.  In the case of the Optionee’s
      death, his or her designated beneficiary or estate may exercise the Option
      by
      giving written notice to the Committee stating the number of Shares with respect
      to which the Option is being exercised and contemporaneously tendering payment,
      in cash, for the Shares.  For purposes of the Plan, “permanent and
      total disability” shall mean that the Committee has determined that the Optionee
      is disabled within the meaning of Section 22(e)(3) of the Code.  In no
      event, however, may the Option be exercised after the expiration of the Option’s
      term, as determined under Section 6(b) (v).

     

    (C)           Other
      Termination.  Unless otherwise determined by the Committee, if a
      Participant’s Continuous Status as an Employee or Consultant is terminated for
      any reason other than for Cause, death or permanent and total disability, to
      the
      extent the Option is then vested and exercisable, it shall be exercisable for
      twelve months following the date of such termination.  In order for an
      Option to retain its status as an Incentive Stock Option, it must be exercised
      within three months following the date of such termination.  In no
      event, however, may the Option be exercised after the expiration of the Option’s
      term, as determined under Section 6(b) (v).

     

    (xii)           Incentive
      Stock Options.  Notwithstanding anything in the Plan to the
      contrary, the following additional provisions shall apply to the grant of
      Options which are intended to qualify as Incentive Stock Options:

     

    (A)           The
      aggregate Fair Market Value (determined as of the time the Option is granted)
      of
      the Shares with respect to which Incentive Stock Options are exercisable for
      the
      first time by any Participant during any calendar year (under this Plan and
      all
      other plans of the Company and its Affiliates) shall not exceed $100,000 in
      value, and to the extent that the Fair Market Value of such Shares exceeds
      $100,000 (or any such higher figure as determined under Section 422 of the
      Code), such Options shall be deemed to be Non-Qualified Options for the purposes
      of this Plan.

     

    (B)           All
      Incentive Stock Options must be granted within ten years from the earlier of
      the
      date on which this Plan was adopted by the Board of Directors or the date this
      Plan was approved by the shareholders of the Company.

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    (C)           Unless
      sooner exercised, all Incentive Stock Options shall expire and no longer be
      exercisable no later than 10 years after the date of grant; provided,
however, that in the case of a grant of an Incentive Stock Option
      to a
      Participant who, at the time such Option is granted, owns (within the meaning
      of
      Section 422 of the Code) stock possessing more than 10% of the total combined
      voting power of all classes of stock of the Company or of its Affiliates, such
      Incentive Stock Option shall expire and no longer be exercisable no later than
      5
      years from the date of grant.

     

    (D)           The
      purchase price per Share for an Incentive Stock Option shall be not less than
      100% of the Fair Market Value of a Share on the date of grant of the Incentive
      Stock Option; provided, however, that, in the case of the grant of
      an Incentive Stock Option to a Participant who, at the time such Option is
      granted, owns (within the meaning of Section 422 of the Code) stock possessing
      more than 10% of the total combined voting power of all classes of stock of
      the
      Company or of its Affiliates, the purchase price per Share purchasable under
      an
      Incentive Stock Option shall be not less than 110% of the Fair Market Value
      of a
      Share on the date of grant of the Incentive Stock Option.

     

    (E)           Any
      Incentive Stock Option authorized under the Plan shall contain such other
      provisions as the Committee shall deem advisable, but shall in all events be
      consistent with and contain all provisions required in order to qualify the
      Option as an Incentive Stock Option.

     

    (b)           General

     

    (i)           No
      Cash Consideration for Awards.  Awards shall be granted for no
      cash consideration or for such minimal cash consideration as may be required
      by
      applicable law.

     

    (ii)           Limits
      on Transfer of Awards.  No Award and no right under any such Award
      shall be transferable by a Participant otherwise than by will or by the laws
      of
      descent and distribution relevant to the participant, or to a Participant’s
      family member (as defined in Section 1(a)(5) of General Instruction A to Form
      S-8 promulgated under the US Securities Exchange Act of 1934, as amended) as
      a
      gift or under a domestic relations order (as defined in Section
      414(p) of the Code) and the Company shall not be required to recognize any
      attempted assignment of such rights by any Participant.  Each Award or
      right under any Award shall be exercisable during the Participant’s lifetime
      only by the Participant or, if permissible by the Participant’s guardian or
      legal representative as set forth above.  No Award or right under any
      such Award may be pledged, alienated, attached or otherwise encumbered, and
      any
      purported pledge, alienation, attachment or encumbrance thereof shall be void
      and unenforceable against the Company or any Affiliate.

     

    (iii)           Term
      of Awards.  The term of each Award shall be for such period as may
      be determined by the Committee; provided, however,  that
      in the case of an Incentive Stock Option such Option shall not be exercisable
      after the expiration of 10 years from the date such Option is
      granted.

     

    (iv)           Restrictions;
      Securities Exchange Listing.  All Shares or other securities
      delivered under the Plan pursuant to any Award or the exercise thereof shall
      be
      subject to such restrictions as the Committee may deem advisable under the
      Plan,
      Applicable Laws, and the Committee may cause appropriate entries to be made
      or
      legends to be affixed to reflect such restrictions.  If any securities
      of the Company are traded on a securities exchange, the Company shall not be
      required to deliver any Shares or other securities covered by an Award unless
      and until such Shares or other securities have been admitted for trading on
      such
      securities exchange.

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    Section
      7.                      Amendment
      and Termination; Adjustments

     

    (a)           Amendments
      to the Plan.  The Board may amend, alter, suspend, discontinue or
      terminate the Plan at any time; provided, however, that,
      notwithstanding any other provision of the Plan or any Award Agreement, without
      the approval of the shareholders of the Company, no such amendment, alteration,
      suspension, discontinuation or termination shall be made that, absent such
      approval:

     

    (i)           would
      violate the rules or regulations of the NASDAQ National Market System or any
      securities exchange that are applicable to the Company; or

     

    (ii)           would
      cause the Company to be unable, under the Code, to grant Incentive Stock Options
      under the Plan.

     

    (b)           Amendments
      to Awards.  The Committee may waive any conditions of or rights of
      the Company under any outstanding Award, prospectively or
      retroactively.  Except as otherwise provided herein or in the Award
      Agreement, the Committee may not amend, alter, suspend, discontinue or terminate
      any outstanding Award, prospectively or retroactively, if such action would
      adversely affect the rights of the holder of such Award, without the written
      consent of the Participant or holder or beneficiary thereof.

     

    (c)           Correction
      of Defects, Omissions and Inconsistencies.  The Committee may
      correct any defect, supply any omission or reconcile any inconsistency in the
      Plan or any Award in the manner and to the extent it shall deem desirable to
      carry the Plan into effect.

     

    Section
      8.                      Income
      and Other Withholdings

     

    In
      order
      to comply with all applicable federal or state income tax laws and social
      security contributions or regulations and (where applicable) the laws and
      regulations of the United Kingdom and the United States of America and any
      other
      relevant country, the Company may take such action as it deems appropriate
      to
      ensure that all applicable national, federal or state payroll, withholding,
      income or other taxes and social security contributions, which are the sole
      and
      absolute responsibility of a Participant, are withheld or collected from such
      Participant.  In order to assist a Participant in paying all or a
      portion of any such taxes or social security contributions to be withheld or
      collected upon exercise or receipt of (or the lapse of restrictions relating
      to)
      an Award, the Committee, in its discretion and subject to such additional terms
      and conditions as it may adopt, may permit the Participant to satisfy such
      tax
      obligation and social security contributions by (i) electing to have the
      Company withhold a portion of the Shares otherwise to be delivered upon exercise
      or receipt of (or the lapse of restrictions relating to) such Award with a
      Fair
      Market Value equal to the amount of such taxes and social security contributions
      or (ii) delivering to the Company Shares other than Shares issuable upon
      exercise or receipt of (or the lapse of restrictions relating to) such Award
      with a Fair Market Value equal to the amount of such taxes and social security
      contributions.  Shares withheld or delivered shall be valued at their
      Fair Market Value as determined by the Committee, in its discretion, as of
      the
      date when income is required to be recognized for income tax
      purposes.  The Participant shall, if so required by the Company or his
      employer, enter into an agreement or election for the transfer to the employee
      of the employer's liability to UK National Insurance Contribution arising on
      the
      grant, exercise, assignment or cancellation of any stock option pursuant to
      the
      applicable law for the time being.

     

    Section
      9.                      General
      Provisions

     

    (a)           No
      Rights to Awards.  No Eligible Person, Participant or other Person
      shall have any claim to be granted any Award under the Plan, and there is no
      obligation for uniformity of treatment of Eligible Persons, Participants or
      holders or beneficiaries of Awards under the Plan.  The terms and
      conditions of Awards need not be the same with respect to any Participant or
      with respect to different Participants.

     

    (b)           Award
      Agreement.  No Participant will have rights under an Award granted
      to such Participant unless and until and Award Agreement shall have been duly
      executed on behalf of the Company and, if requested by the Company, signed
      by
      the Participant.

     

    (c)           Plan
      Provisions  In the event that any provision of an Award Agreement
      conflicts with or is inconsistent in any respect with the terms of the Plan
      as
      set forth herein or subsequently amended, the terms of the Plan shall
      control.  In the event, the Plan is silent as to a term, provision or
      restriction contained in an Award Agreement, the term, provision or restriction
      of the Award Agreement shall govern.  Similarly, in the event the
      Award Agreement is silent as to a term, provision or restriction contained
      in
      the Plan, the term, provision or restriction of the Plan shall
      govern.

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    (d)           No
      Limit on Other Compensation Arrangements.  Nothing contained in
      the Plan shall prevent the Company or any Affiliate from adopting or continuing
      in effect other or additional compensation arrangements, and such arrangements
      may be either generally applicable or applicable only in specific
      cases.

     

    (e)           No
      Right to Employment.  The grant of an Award shall not be construed
      as giving a Participant the right to be retained as an Employee, Director,
      Consultant or independent contractor of the Company or any Affiliate, nor will
      it affect in any way the right of the Company or an Affiliate to terminate
      such
      employment relationship at any time, at will, with or without
      Cause.  In addition, the Company or an Affiliate may at any time
      terminate a Participant’s employment relationship with the Company or an
      Affiliate free from any liability or any claim under the Plan or any Award,
      unless otherwise expressly provided in the Plan or in any Award
      Agreement.

     

    (f)           Governing
      Law.  The validity, construction and effect of the Plan or any
      Award, and any rules and regulations relating to the Plan or any Award, shall
      be
      determined in accordance with the laws of England.  Notwithstanding
      the foregoing, to the extent that such an Award is made in respect of ADS’s or
      ADS’s are issued in the United States of America, the validity construction and
      effect of the Plan or any Award, and any rules and regulations relating to
      the
      Plan or any Award, shall be determined in accordance with the laws of the State
      of New York, United States.

     

    (g)           Severability.  If
      any provision of the Plan or any Award is or becomes or is deemed to be invalid,
      illegal or unenforceable in any jurisdiction or would disqualify the Plan or
      any
      Award under any law deemed applicable by the Committee, such provision shall
      be
      construed or deemed amended to conform to Applicable Laws, or if it cannot
      be so
      construed or deemed amended without, in the determination of the Committee,
      materially altering the purpose or intent of the Plan or the Award, such
      provision shall be stricken as to such jurisdiction or Award, and the remainder
      of the Plan or any such Award shall remain in full force and
      effect.

     

    (h)           No
      Trust or Fund Created.  Neither the Plan nor any Award shall
      create or be construed to create a trust or separate fund of any kind or a
      fiduciary relationship between the Company or any Affiliate and a Participant
      or
      any other Person.  To the extent that any Person acquires a right to
      receive payments from the Company or any Affiliate pursuant to an Award, such
      right shall be no greater than the right of any unsecured general creditor
      of
      the Company or any Affiliate.

     

    (i)           No
      Fractional Shares.  No fractional Shares shall be issued or
      delivered pursuant to the Plan or any Award, and the Committee shall determine
      whether cash shall be paid in lieu of any fractional Shares or whether such
      fractional Shares or any rights thereto shall be canceled, terminated or
      otherwise eliminated.

     

    (j)           Headings.  Headings
      are given to the Sections and subsections of the Plan solely as a convenience
      to
      facilitate reference.  Such headings shall not be deemed in any way
      material or relevant to the construction or interpretation of the Plan or any
      provision thereof.

     

    (k)           Stockholder
      Rights.  The Optionee or other person or entity exercising the
      Option shall have no rights as a stockholder of record of the Company with
      respect to Shares issuable upon the exercise of the Option until such
      certificate representing Shares, registered in the Optionee’s name have been
      issued to the Optionee.

     

    (l)           Notices.  Notices
      required or permitted to be made under the Plan shall be sufficiently made
      if
      sent by overnight courier, registered or certified mail, return receipt
      requested, facsimile or first class mail addressed to the Committee at its
      offices, which notice shall effective upon its receipt.  Each notice
      shall be addressed to (i) the Optionee at the Optionee’s last known address as
      set forth in the books and records of the Company or an Affiliate, if any,
      or
      (ii) the Company or the Committee at the principal office of the
      Company.

     

    Section
      10.                      Effective
      Date of the Plan

     

    The
      Plan
      shall be effective as of 1st January
      2002.

     

    Section
      11.                      Term
      of the Plan

     

    No
      Award
      shall be granted under the Plan after 1st January
      2012 or
      any earlier date of discontinuation or termination established pursuant to
      the
      Plan.  However, unless otherwise expressly provided in the Plan or in
      an applicable Award Agreement, any Award theretofore granted may extend beyond
      such date.Exhibit 10.45 - Independent Contractor Agreement with Craig Harting.

Exhibit 10.45

INDEPENDENT CONTRACTOR AGREEMENT

     THIS INDEPENDENT CONTRACTOR AGREEMENT is made effective the 1st day of May, 2007 (this “Agreement”), between Global Green Solutions Inc., a Nevada Corporation (the “Client”) at 789 West Pender Street, Suite1010,Vancouver, BC, Canada V6C 1H2 and; Craig Harting, an Independent contractor (the “Independent Contractor”) at 2519, San Marcos Avenue, San Diego, 

RECITALS

          A.     The Client is engaged in the business of developing and implementing technology internationally for renewable energy and greenhouse gas emissions reduction. 

          B.     The Client requires the services of a Chief Operating Officer; 

          C.     The Independent Contractor represents he has the skills and expertise to serve the client; and the Independent contractor and has agreed to provide the chief operating officer services to serve the Client as hereinafter provided. 

AGREEMENT

     NOW, THEREFORE, in consideration of the mutual covenants herein contained, and other good and valuable consideration, the sufficiency and receipt of which are hereby acknowledged, the parties agree as follows: 

     1.   Services.  The Independent Contractor agrees to provide the services of chief operating officer of the Client and to provide office services for the Client at an address selected by the Independent Contractor with the consent of the client. The Independent Contractor will operate under general guidelines provided by the CEO and the Board of Directors of the Client, with responsibilities generally as described in attachment “A”. The Independent Contractor will comply with all rules, policies and procedures of the Client as modified from time to time. The Independent Contractor will perform all of the Independent Contractor’s responsibilities in compliance with all applicable laws and will endeavor to ensure that the operations are in compliance with all applicable laws. During the Independent Contractor’s tenure with the Client, the Independent Contractor will engage in any other business activity only with the reasonable approval of the president and the Board of Directors of the Client. 

     2.   Term of Engagement.  The term of engagement of the Independent Contractor will be for the five year period commencing the 1st day of May, 2007and ending the 31st day of April, 2012 (“the Term”), unless sooner terminated in accordance with the terms and conditions of this Agreement. If the term continues after the end of the Term, such term will continue on the terms and conditions set forth in this Agreement, but will be terminable by either party at any time with or without cause or advance notice. 

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     3.   Compensation and Stock Options.  For the duration of the Independent Contractor’s tenure’s hereunder, the Independent Contractor will be entitled to compensation which will be compensated and paid pursuant to the following subparagraphs. 

          3.1   Base Rate.  The Client will pay the Independent Contractor base compensation (“Base Compensation”) at an annual rate of US$96,000.00 payable in 12 monthly installments at the end of each calendar month and within five (5) days after receipt of an invoice from the Independent Contractor. The Independent Contractor’s Base Compensation will be reviewed annually by the Board of Directors of the Client during the term of the Independent Contractor’s tenure and may be adjusted in the sole discretion of the Client effective February 1 of each year commencing February 1, 2008, but will not be reduced by the Client unless a material adverse change in the financial condition or operations of the Client has occurred and as agreed with the Independent Contractor. 

          3.2   Office Services,  In addition to Base Compensation, the client will pay the Independent Contractor for the serviced office provided by the Independent Contractor at the annual rate of $12,000 payable in 12 monthly installments at the end of each calendar month and within five (5) days after receipt of an invoice from the Independent Contractor. The monthly service charge should be inclusive of costs and expenses for office, sundries, phone and fax rental, internet and non-international call charges. 

          3.3   Marketing and Communication Services  In addition to the Base Compensation, the client will pay the Independent Contractor for marketing and communication services provided by the Independent contractor at the annual rate of $48,000 payable in 12 monthly installments at the end of each calendar month and within five (5) days after receipt of an invoice from the Independent Contractor. The monthly service charge should be inclusive of costs and expenses for office, sundries, phone and fax rental, internet and non-international call charges as per Clause 3.2. 

          3.4   Taxes, Workers Compensation, Insurance, and Disability Coverage  Fees paid to the Independent Contractor are inclusive of all income, corporation or other taxes and all social, medical, business and automobile insurance, and the Independent Contractor is responsible for payment of all such amounts. Independent Contractor is responsible for maintaining any required Workers Compensation coverage and releases Client from any and all responsibilities related to placement of such coverage or payment of fees required to maintain such coverage. Independent Contractor is responsible for obtaining any disability coverage with respect to any and all work performed on behalf of the Client. The Independent Contractor releases, indemnifies and holds harmless the Client from any claims in regard to matters in this item 3.4. This release is indefinite in term and will survive the termination of this agreement. 

     4.    Other Benefits. 

 

 

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          4.1   Certain Benefits.  The Independent Contractor will be eligible to participate in all corporate benefit programs established by the Client that are applicable to management personnel such as medical, pension, disability and life insurance plans on a basis commensurate with the Independent contractor’s position and in accordance with the Client’s policies from time to time, but nothing herein shall require the adoption or maintenance of any such plan. 

          4.2   Vacations, Holidays and Expenses.  For the duration of the Independent Contractor’s tenure hereunder, the Independent Contractor will be provided with such holidays, sick leave and vacation as the Client makes available to its American based management level employees generally. The Client will reimburse the Independent contractor in accordance with the company policies and procedures for reasonable expenses necessarily incurred in the performance of duties hereunder against appropriate receipts and vouchers indicating the specific business purpose for each such expenditure. 

     5.  Termination or Discharge by the Client. 

          5.1   For Cause.  The Client will have the right to immediately terminate the Independent Contractor’s services and this Agreement for cause. “Cause” means: any material breach of this Agreement by the Independent Contractor, including, without limitation, breach of the Independent Contractor’s covenants in Sections 7, 8, and 9; any failure to perform assigned job responsibilities that continues unremedied for a period of thirty (30) days after written notice a felony or failure to contest to the Independent Contractor by the Client; conviction of a felony or failure to contest prosecution for a felony; violation of any statute, rule or regulation, any of which in the judgment of the Client is harmful to the business or to the Client’s reputation; unethical practices; dishonesty; disloyalty; or any reason that would constitute cause under the laws of Nevada or the for cause European Union. Upon termination of the Independent Contractor’s services hereunder for cause or upon the death or disability of the Independent Contractor, neither the Independent Contractor nor the Independent contractor’s heirs, personal representatives and permitted assigns will have any rights to any unvested benefits or any other compensation or payments after the termination date or the last day of the month in which the Independent Contractor’s death or disability occurred. For purposes of this Agreement, “disability” means the incapacity or inability of the Independent Contractor whether due to accident, sickness or otherwise, as determined by a to medical doctor acceptable to the Board of Directors of the Client and confirmed in writing by such doctor, to perform the essential functions of Independent Contractor’s position under this Agreement, with or without reasonable accommodation (provided that no accommodation that imposes undue hardship on the Client will be required)for an aggregate of ninety (90) days during any period of one hundred eighty (180) consecutive days. 

          5.2   Without Cause.  The Client may terminate the Independent Contractor’s tenure under this Agreement without cause on 6 months notice; provided, however, that the Client will continue to pay, as severance pay, the Independent Contractor’s Base Rate and Office Services at the rate in effect on the termination date through the expiration of the six month 

 

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notice period and including any unpaid expenses claims. Upon termination, the Independent Contractor will have rights to any Equity Subscription Option and other unvested benefits for the 6 month notice period. 

     6.   Termination by the Independent contractor.  Contractor may terminate the Independent Contractor’s tenure and the services of the Independent Contractor under this Agreement for any reason provided that the Independent Contractor gives the Client at least sixty (60) days notice in writing. The Client may, at its option, relieve the Independent Contractor of all duties and authority after notice of termination has been provided. Upon termination by the Independent Contractor, the Independent Contractor will have no rights to any unvested benefits or any other compensation or payments from the date of notice. All compensation, payments and unvested benefits will cease after the sixty (60) day notice period.

     7.   Confidential Information,  The Independent Contractor recognizes that the Client’s business and continued success depend upon the use and protection of confidential and proprietary business information. to which the Independent Contractor has access (all such information being “Confidential Information”). For purposes of this Agreement, the phrase “Confidential Information” includes for the Client and its current or future subsidiaries and affiliates, without limitation, and whether or not specifically designated as confidential or proprietary: all business plans and marketing strategies; information concerning existing and prospective markets and customers; financial information; information concerning the development of new products and services; and technical and non-technical data related to software programs, designs, specifications, compilations, inventions, improvements, methods, processes, procedures and techniques; provided, however, that the phrase does not include information that (a) was, or at anytime becomes, available in the public domain other than through a violation of this Agreement; or (b) is furnished to the Independent Contractor by a third party not under an obligation of confidentiality to the Client. The Independent Contractor agrees that during the Independent Contractor’s tenure and after termination of the tenure irrespective of cause, the Independent Contractor will use Confidential Information only for the benefit of the Client and will not directly or indirectly use or divulge, or permit others to use or divulge, any Confidential Information for any reason, except as authorized by the Client. The Independent Contractor’s obligation under this Agreement is in addition to any obligations the Independent Contractor has under applicable law. The Independent Contractor agrees to deliver to the Client immediately upon termination of Independent Contractor’s tenure with the Client, or at anytime the Client so requests, all tangible items containing any Confidential Information (including, without limitation, all memoranda, photographs, records, reports, manuals, drawings, blueprints, prototypes, notes taken by or provided to the Independent Contractor and any other documents or items of a confidential belonging to the Client), together with all copies of such material in the Independent Contractor’s possession or control. The Independent Contractor agrees that in the course of their contractual relationship with the Client, the Independent Contractor will not violate in any way the rights that any entity has with regard to trade secrets or proprietary or

 

 

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confidential information. The Independent Contractor’s obligations under this Section 7 are indefinite in term and shall survive the termination of this Agreement. 

     8.   Work Product and Copyrights.  The Independent Contractor agrees that all right, title and interest in and to the materials resulting from the performance of the Independent contractor’s duties with the Client and all copies thereof, including works in progress, in whatever media, (the “Work’), will be and remain the Client’s upon their creation. The Independent contractor and the Independent Contractor will mark all Work with the Client’s copyright or other proprietary notice as directed by the Client. Independent Contractor further agrees: 

          8.1   To the extent that any portion of the Work constitutes a work protectable under the copyright laws of the United States, Canada or the European Community (the “Copyright Law”), that all such Work will be considered a “work made for hire” as such term is used and defined in the Copyright Law and that the Client will be considered the “author”of such portion of the Work and the sole and exclusive owner throughout the world of copyright therein; and 

          8.2   If any portion of the Work does not qualify as a “work made for hire” as such term is used and defined in the Copyright Law, that the Independent Contractor hereby assign and agree to assign to the Client , without further consideration, all right, title and interest in and to such Work or in any such portion thereof and any copyright therein and further agrees to execute and deliver to the Client, upon request, appropriate assignments of such Work and copyright therein and such other documents and instruments as the Client may request to fully and completely assign such Work and copyright therein to the Client, its successors or nominees, and that the Independent Contractor hereby appoint the Client as attorney-in-fact to execute and deliver any such documents on the Independent contractor’s behalf in the event the Independent Contractor should fail or refuse to do so within a reasonable period following the Client’s request. 

     9.   Inventions and Patents.  For purposes of this Agreement, “Inventions” includes, without limitation, information, inventions, contributions, improvements, ideas, or discoveries, whether patentable or not and whether or not conceived or made during work hours. The Independent contractor agrees that all Inventions conceived or made by the Independent Contractor during the tenure of the Independent Contractor with the Client belong to the Client, including, without limitation, research and product development, and projected business of the Client or its affiliated companies. Accordingly, the Independent Contractor will: 

          9.1   Make adequate written records of such Inventions, which records will be the Client’s property; 

          9.2   Assign to the Client, at its request, any rights the Independent Contractor may have to such Inventions for the U.S. and all foreign countries; 

 

 

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          9.3   Waive and agree not to assert any moral rights the Independent Contractor may have or acquire in any Inventions and agree to provide written waivers from time to time as requested by the Client; and 

          9.4   Assist the Client (at the Client’s expense) in obtaining and maintaining patents or copyright registrations with respect to such Inventions. 

     The Independent Contractor understands and agrees that the Client or its designee will determine, in its sole and absolute discretion, whether an application for patent will be filed on any Invention that is the exclusive property of the Client as set forth above, and whether such an application will be abandoned prior to issuance of a patent. The Client will pay to the Independent Contractor, either during or after the term of this Agreement, the following amounts if the Independent Contractor is sole inventor, or the Independent Contractor’s proportionate share if the Independent Contractor is joint inventor: $750 upon filing of the initial application for patent on f a patent resulting from such initial patent application, such invention; and $1,500 upon issuance provided Independent Contractor is named as an inventor in the patent. 

     10.   Remedies.  Notwithstanding other provisions of this Agreement regarding dispute resolution, the Independent Contractor agrees that violation of any of Sections 7, 8, or 9 of this Agreement would cause the Client irreparable harm which would not be adequately compensated by monetary damages and that an injunction may be granted by any court or courts having jurisdiction, restraining the Independent Contractor from violation of the terms of this Agreement, upon any breach or threatened breach of tenure of the obligations set forth in any of Sections7, 8, or 9. The preceding sentence shall not be construed to limit the Client from any other relief or damages to which it may be entitled as a result of the Independent Contractor’s breach of any provision of this Agreement, including Sections 7, 8, or 9. The Independent Contractor also agree that a violation of any of Sections7, 8, or 9 would entitle the Client, in addition to all other remedies available at law or equity, to recover from the Independent Contractor any and all funds, including, without limitation, wages and salary, which will beheld by the Independent Contractor in constructive trust for the Client, received by the Independent Contractor in connection with such violation. 

     11.   Dispute Resolution.  The terms of this agreement shall be adjudicated upon in accordance with the Laws of the State of Nevada, USA and each of the parties hereto agree to atturn to the jurisdiction of the Federal Court of Nevada.

     12.   Fees.  Unless otherwise agreed, the prevailing party will be entitled to its costs and attorneys’ fees incurred in any litigation relating to the interpretation or enforcement of this Agreement. 

     13.   Representation of the Independent Contractor.  The Independent Contractor represents and warrants to the Client that the Independent Contractor is free to enter into this Agreement and has no commitment, arrangement or understanding to or with any party that restrains or is in conflict with the Independent Contractor’s performance of the covenants, 

 

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services and duties provided for in this Agreement. The Independent Contractor agrees to indemnify the Client and to hold it harmless against any and all liabilities or claims arising out of any unauthorized act or acts by the Independent Contractor that, the foregoing representation and warranty to the contrary notwithstanding, are in violation, or constitute a breach, of any such commitment, arrangement or understanding. 

     14.   Assignability.  During the Independent Contractor’s tenure this Agreement may not be assigned by either party without the written consent of the other; provided, however, that the Client may assign its rights and obligations under this Agreement without the Independent Contractor’s consent to a success or by sale, merger or liquidation, if such successor carries on the Business substantially in the form in which it is being conducted at the time of the sale, merger or liquidation. This Agreement is binding upon the Independent Contractor and the Independent Contractor’s heirs, personal representatives and permitted assigns and on the Client, its successors and assigns.

     15.   Notices.  Any notice required or permitted to be given hereunder are sufficient if in writing and delivered by hand, by facsimile or by registered or certified mail, to the Independent Contractor at 2519, San Marcos Avenue, San Diego, CA 92104 or to the President of the Client at 789 West Pender Street, Suite 1010, Vancouver, BC, Canada V6C 1H2. 

     16.   Severability.  If any provision of this Agreement or compliance by any of the parties with any provision of this Agreement constitutes a violation of any law, or is or becomes unenforceable or void, then such provision, to the extent only that it is in violation of law, unenforceable or void, shall be deemed modified to the extent necessary so that it is no longer in violation of law, unenforceable or void, and such provision will be enforced to the fullest extent permitted by law. If such modification is not possible, said provision, to the extent that it is in violation of law, unenforceable or void, shall be deemed severable from the remaining provisions of this Agreement, which provisions will remain binding on the parties.

     17.   Waivers.  No failure on the part of either party to exercise, and no delay in exercising, any right or remedy hereunder will operate as a waiver thereof; nor will any single or partial waiver of a breach of any provision of this Agreement operate or be construe as a waiver of any subsequent breach; nor will any single or partial exercise of any right or remedy hereunder preclude any other or further exercise thereof or the exercise of any other right or remedy granted hereby or by law. 

     18.   Change of Control.  Upon a Change of Control or a Hostile Takeover during the term of this Agreement, Independent Contractor shall immediately become 100% vested with respect to any options to purchase the Company’s capital stock then held. 

     20.   Governing Law.  The validity, construction and performance of this Agreement shall be governed by the laws of the State of Nevada. 

 

 

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     21.   Entire Agreement.  This instrument contains the entire agreement of the parties with respect to the relationship between the Independent Contractor and the Client and supersedes all prior agreements and understandings, and there are no other representations or agreements other than as stated in this Agreement related to the terms and conditions of the Independent contractor’s service. This Agreement may be changed only by an agreement in writing signed by the party against whom enforcement of any waiver, change, modification, extension or discharge is sought, and any such modification will be signed by the President of the Client. 

 

 

 

 

 

 

 

 

 

 

 

 

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IN WITNESS WHEREOF, the parties have duly signed and executed this Agreement as of the dates shown below, to be effective May 1, 2007. 

	     	
	GLOBAL GREEN SOLUTIONS INC.  	  
	  
	  
	By ELDEN SCHORN  	September 9, 2007  
	                   Name: Elden Schorn  	Date  
	                   Title: Chairman and director  	  

 

 

	By CRAIG HARTING  	September 18, 2007  
	                   Name: Craig Harting  	Date  

 

 

 

 

 

 

 

 

 

 

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EXHIBIT A

DUTIES OF CRAIG HARTING

The duties to be carried out by the Independent Contractor are as follows:

1.     Manage all revenue generating activities 

2.     Develop and manage strategic and yearly budgets

3.     Direct management of sales and operations in Western Hemisphere

4.     Manage all R&D and product management 

5.     Manage tactical marketing activities 

6.     Provide work direction to VP Strategy and Business Development 

7.     Support Company financing initiatives 

8.     External face of the company in Western Hemisphere for public relations and investor relations activities as required. 

 

 

 

 

 

 

 

 

 

 

 

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