Document:

PROMISSORY
NOTE

    

    
      	
              $250,000.00

            	
              May
      14, 2010

            

    

    

    For value received, Clenergen
Corporation, a Nevada corporation with principal offices at Bath House, Chapel
Place, London, Great Britain EC2A 3DQ ("Borrower"), promises to pay to
the order of Vastani Trading Limited, a British Virgin Islands corporation with
principal offices at Friededstrasstrabe 6-O, Frankfurt 60311 Germany (the "Lender"), at the offices of
Borrower  or at such other place as Lender may from time to time
appoint in writing,  the principal sum of Two Hundred Fifty Thousand
and 00/100 ($250,000.00) Dollars on August 14, 2010 (the “Maturity
Date”).  Borrower also promises to pay interest (computed on
the basis of a 360 day year for actual days elapsed) at said office in like
money on the unpaid principal amount of the Loan (as defined below) at a rate
per annum equal to twenty-four percent (24%) per annum, payable no later than
the Maturity Date.  Borrower further agrees that upon the failure to
satisfy this Promissory Note in full on or prior to the Maturity Date, Borrower
shall issue to Lender an 100,000 warrants (each, an “Additional Warrant”) to
purchase shares (each, an “Additional Warrant Share”) of
the common stock, par value $0.001 per share (the “Common Stock”), of Borrower
for each month or portion thereof (each, a “Default Month”) following the
Maturity Date that this Promissory Note is not fully paid (prorated in the event
that this Promissory Note is satisfied only in part).  The Additional
Warrants to have terms identical to the warrants (the “Initial Warrants”) issued to
Lender in accordance with the SPA (as hereinafter defined), except that the
expiration date of each Additional Warrant shall be the date which is the
calendar day immediately preceding the fourth anniversary of the date which such
Additional Warrant is required to be issued and the exercise price per Warrant
Share shall be equal to 70% of the closing price of the Common Stock on the last
day of each Default Month; provided, however, the exercise
price of all Additional Warrants may not be less than $0.01 per Additional
Warrant Share.  Each set of Additional Warrants shall be deemed to be
issued as of the close of business on the last day of the subject Default
Month.  In no event shall interest payable hereunder be in excess of
the maximum rate of interest permitted under applicable law.

    

    All payments made in connection with
this Note shall be in lawful money of the United States in immediately available
funds without counterclaim or setoff and free and clear of and without any
deduction or withholding for, any taxes or other payments.  All such
payments shall be applied first to the payment of all fees, expenses and other
amounts due to Lender (excluding principal and interest), then to accrued
interest, and the balance on account of outstanding principal; provided, however, that after
the occurrence of an Event of Default, payments will be applied to the
obligations of Borrower to Lender as Lender determines in its sole
discretion.

    

    This Note is being made and delivered
pursuant to a Securities Purchase Agreement (the “SPA”) between Borrower and
Lender being executed contemporaneously with this Note.  Each
capitalized term not defined in this Promissory Note shall have the meaning
ascribed to such capitalized term in the NPA.

    
      
         

      

      
        
        

        
          

        

      

      
         

      

    

    The rights of Lender and obligations of
Borrower are as follows:

    

    1.           Use of
Proceeds.  Borrower shall utilize the proceeds of the Loan as
set forth in the SPA.

    

    2.           Prepayment.  Borrower
may, without premium or penalty, at any time and from time to time, prepay all
or any portion of the outstanding principal amount evidenced by this Promissory
Note; provided,
that (a) each such prepayment is accompanied by accrued interest, if any, on the
unpaid principal balance, calculated through the date of such prepayment, and
(b) each such prepayment shall be in an amount of at least $5,000 (or, if the
outstanding principal amount is less than $5,000 at such time, then such
outstanding principal amount).

    

    3.           Liabilities.  The
term "Liabilities" shall include this Promissory Note and all other indebtedness
and obligations and liabilities of any kind of Borrower to Lender arising in
connection with this Promissory Note and the SPA (other than the Original
Warrants), now or hereafter existing, arising directly between Borrower and
Lender or acquired by assignment, conditionally or as collateral security by
Lender, absolute or contingent, joint and/or several, secured or unsecured, due
or not due, contractual or tortious, liquidated or unliquidated, arising by
operation of law or otherwise, direct or indirect.

    

    4.           SPA.  This
Promissory Note is subject to all of the terms and conditions contained in, and
is entitled to the benefits of, the SPA.  The SPA, this Promissory
Note and any other agreements, documents and instruments executed and delivered
pursuant to or in connection with the SPA or the transactions contemplated by
the SPA are collectively referred to in this Promissory Note as the "Loan Documents."  In
the event of a conflict between the terms hereof and those in the SPA, the terms
of this Promissory Note shall control.

    

    5.           Events of
Default.  If any Event of Default (as hereinafter defined)
shall occur, Lender may exercise any and all of the remedies as hereinafter
provided.  Upon default in the due payment of this Note or any other
Event of Default, Lender may, but shall not be required to exercise any right or
remedy hereby granted or allowed to Lender by law, and each and every right and
remedy hereby granted to Lender or allowed to it by law shall be cumulative and
not exclusive the one of the other, and may be exercised by Lender from time to
time and as often as may be necessary.  In addition, upon the
occurrence of an Event of Default, the unpaid principal amount of this
Promissory Note, along with interest as if this Promissory Note was repaid all
the Maturity Date, shall be immediately due and payable.  If an
attorney is employed to enforce or collect this Promissory Note, Borrower shall
pay Lender's reasonable attorneys fees in connection therewith.

    

    6.           Definitions.  As
used herein:

    

    (a)         "Business
Day" means a day other than a Saturday, Sunday or other day on which commercial
banks in the State of New York are authorized or required to close under the
laws of the State of New York.

    

    (b)         "Event
of Default" shall mean any of the following events.

     

    (i)           the
failure by Borrower to pay any amounts required to be paid under this Promissory
Note on or before the date on which such payment was due and such failure is not
cured within five business days of the giving of notice to Borrower by Lender of
such failure;

    
      
         

      

      
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    (ii)         the
breach or noncompliance by Borrower of any of its material representations,
warranties or covenants contained in the Security Agreement and such breach or
noncompliance is not cured within five business days of the giving of notice to
Borrower by Lender of such breach or noncompliance;

    (iii)        Borrower
shall:

    (A)        apply
for or consent to the appointment of a receiver or trustee of Borrower’s
assets,

    (B)         make
a general assignment for the benefit of creditors,

    (C)         file
a petition or other request no matter how denominated (“Petition”) seeking
relief under Title 11 of the United States Code or under any other federal or
state bankruptcy, reorganization, insolvency, readjustment of debt, dissolution
or liquidation law or statute (“Bankruptcy Statute”), or

    (D)         file
an answer admitting the material allegations of a Petition filed against it in
any proceeding under any Bankruptcy Statute;

    (iv)        there
shall have entered against Borrower an order for relief under any Bankruptcy
Statute; or

    (v)         a
Petition seeking an order for relief under any Bankruptcy Statute is filed by
any one other than Borrower and without Borrower’s consent or agreement which is
not dismissed or stayed within 60 days after the date of such filing, or such
Petition is not dismissed upon the expiration of any stay thereof.

    

    7.           Miscellaneous.

    

    (a)         Borrower agrees to pay on
demand all of Lender's reasonable costs and expenses, including reasonable
counsel fees, in connection with collection of any sums due to Lender and
enforcement of its rights under this Promissory Note, including, without
limitation, reasonable fees of outside legal counsel (but not the allocated
costs of in-house legal counsel), accounting, consulting, brokerage or other
similar professional fees or expenses, and any fees or expenses associated with
travel or other costs relating to any appraisals or examinations conducted in
connection with the Liabilities, and the amount of all such expenses shall,
until paid, bear interest at the rate applicable to principal hereunder
(including any default rate).

    

    (b)         No
modification or waiver of any provision of this Promissory Note shall be
effective unless such modification or waiver shall be in writing and signed by a
duly authorized officer of Lender, and the same shall then be effective only for
the period and on the conditions and for the specific instances specified in
such writing.  No failure or delay by Lender in exercising any right,
power or privilege hereunder shall operate as a waiver thereof; nor shall any
single or partial exercise thereof preclude any other or further exercise
thereof or the exercise of any rights, power or privilege.

    

    (c)         Borrower
hereby waives presentment, demand for payment, notice of protest, notice of
dishonor, and any and all other notices or demands except as otherwise expressly
provided for herein.

    
      
         

      

      
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    (d)         This Promissory Note and
the other Loan Documents shall be construed in accordance with and governed by
the laws of the State of New York (excluding the laws
applicable to conflicts or choice of law).  Borrower consents
that any legal action or proceeding against it under, arising out of or in any
manner relating to, this Promissory Note and the Loan Documents may be brought
in any court of the State of New York of competent jurisdiction located within
Suffolk County or in the United States District Court for the Eastern District
of New York.  Borrower, by the execution and delivery of this
Promissory Note, expressly and irrevocably consents and submits to the personal
jurisdiction of any of such courts in any such action or
proceeding.  Borrower hereby expressly and irrevocably waives any
claim or defense in any such action or proceeding based on any alleged lack of
personal jurisdiction, improper venue or forum non convenient or any similar
basis.

    

    (e)         All
agreements between Borrower and Lender are hereby expressly limited so that in
no contingency or event whatsoever, whether by reason of acceleration of
maturity of the indebtedness evidenced hereby or otherwise, shall the amount
paid or agreed to be paid to Lender for the use or the forbearance of the
indebtedness evidenced hereby exceed the maximum permissible under applicable
law.  As used herein, the term "applicable law" shall mean the law in
effect as of the date hereof; provided, however, that in the
event there is a change in the law which results in a higher permissible rate of
interest, then this Promissory Note shall be governed by such new law as of its
effective date.  In this regard, it is expressly agreed that it is the
intent of Borrower and Lender in the execution, delivery and acceptance of this
Promissory Note to contract in strict compliance with the laws of the State of
New York from time to time in effect.  If, under or from any
circumstances whatsoever, fulfillment of any provision hereof or of any of the
Loan Documents at the time of performance of such provision shall be due, shall
involve transcending the limit of such validity prescribed by applicable law,
then the obligation to be fulfilled shall automatically be reduced to the limits
of such validity, and if under or from circumstances whatsoever Lender should
ever receive as interest an amount which would exceed the highest lawful rate,
such amount which would be excessive interest shall be applied to the reduction
of the principal balance evidenced hereby and not to the payment of
interest.  This provision shall control every other provision of all
agreements between Borrower, each other party obligated on this Promissory Note
and Lender.

    

    (f)          BORROWER
AND LENDER (BY ACCEPTANCE OF THIS PROMISSORY NOTE) MUTUALLY HEREBY KNOWINGLY,
VOLUNTARILY AND INTENTIONALLY WAIVE THE RIGHT TO A TRIAL BY JURY, AND BORROWER
WAIVES THE RIGHT TO INTERPOSE ANY SET-OFF OR COUNTERCLAIM (EXCEPT FOR MANDATORY
COUNTERCLAIMS), IN EACH CASE IN RESPECT OF ANY CLAIM BASED HEREON, ARISING OUT
OF, UNDER OR IN CONNECTION WITH THIS PROMISSORY NOTE, THE SPA AND/OR ANY OTHER
LOAN DOCUMENTS CONTEMPLATED TO BE EXECUTED IN CONNECTION HEREWITH OR ANY COURSE
OF CONDUCT, COURSE OF DEALINGS, STATEMENTS (WHETHER VERBAL OR WRITTEN) OR
ACTIONS OF ANY PARTY, INCLUDING, WITHOUT LIMITATION, ANY COURSE OF CONDUCT,
COURSE OF DEALINGS, STATEMENTS OR ACTIONS OF LENDER RELATING TO THE
ADMINISTRATION OF THE LOAN OR ENFORCEMENT OF THE LOAN DOCUMENTS AND AGREES THAT
NEITHER PARTY WILL SEEK TO CONSOLIDATE ANY SUCH ACTION WITH ANY OTHER ACTION IN
WHICH A JURY TRIAL CANNOT BE OR HAS NOT BEEN WAIVED.  EXCEPT AS
PROHIBITED BY LAW, BORROWER HEREBY WAIVES ANY RIGHT IT MAY HAVE TO CLAIM OR
RECOVER IN ANY LITIGATION ANY SPECIAL, EXEMPLARY, PUNITIVE OR CONSEQUENTIAL
DAMAGES OR ANY DAMAGES OTHER THAN, OR IN ADDITION TO, ACTUAL DAMAGES. BORROWER
CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF LENDER HAS REPRESENTED,
EXPRESSLY OR OTHERWISE, THAT LENDER WOULD NOT, IN THE EVENT OF LITIGATION, SEEK
TO ENFORCE THE FOREGOING WAIVER.  THIS WAIVER CONSTITUTES A MATERIAL
INDUCEMENT FOR LENDER TO ACCEPT THIS PROMISSORY NOTE AND MAKE THE
LOAN.

    
      
         

      

      
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    (g)         Upon
receipt of an affidavit of an officer of Lender as to the loss, theft,
destruction or mutilation of this Promissory Note or any other Loan Document
which is not of public record, and, in the case of any such loss, theft,
destruction or mutilation, upon surrender and cancellation of such Promissory
Note or other security document, Borrower will issue, in lieu thereof, a
replacement Promissory Note or other security document in the same principal
amount thereof and otherwise of like tenor.

    

    (h)         This
Promissory Note shall be binding upon and inure to the benefit of Borrower and
Lender and their respective legal successors.  This Promissory Note is
neither transferable nor assignable in any manner whatsoever.

    

    (i)          This
Promissory Note and the other Loan Documents are intended by the parties as the
final, complete and exclusive statement of the transactions evidenced
thereby.  All prior or contemporaneous promises, agreements and
understandings, whether oral or written, are deemed to be superceded by this
Promissory Note and such other Loan Documents, and no party is relying on any
promise, agreement or understanding not set forth in this Promissory Note or
such other Loan Documents.  Neither this Promissory Note nor any of
such other Loan Documents may be amended or modified except by a written
instrument describing such amendment or modification executed by Borrower and
Lender.

    

    
      
        
          	
                  Borrower:

                
	
                  Clenergen
      Corporation

                
	 
      
	
                  By:  

                	
                  /s/ Mark L.M. Quinn

                
	 
      	
                  Mark
      L.M. Quinn

                
	 
      	
                  Chief
      Executive Officer

                

        

      

    

    
      
         

      

      
        -5-NEITHER
THE WARRANTS REPRESENTED BY THIS WARRANT CERTIFICATE NOR THE SHARES OF COMMON
STOCK NOR HAVE ANY OTHER SECURITIES ISSUABLE UPON EXERCISE OF SUCH WARRANTS BEEN
REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED.  SUCH
WARRANTS HAVE BEEN ACQUIRED, AND ANY SHARES OF COMMON STOCK OR ANY OTHER
SECURITIES ISSUABLE UPON EXERCISE OF SUCH WARRANTS ARE REQUIRED TO BE ACQUIRED,
FOR INVESTMENT PURPOSES AND NOT WITH A VIEW TO DISTRIBUTION OR RESALE, AND MAY
NOT BE SOLD, ASSIGNED, PLEDGED, HYPOTHECATED OR OTHERWISE TRANSFERRED WITHOUT AN
EFFECTIVE REGISTRATION STATEMENT FOR SUCH WARRANTS AND/OR SUCH SHARES OR OTHER
SECURITIES UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND APPLICABLE STATE
SECURITIES LAWS OR AN OPINION OF COUNSEL SATISFACTORY TO THE ISSUER OF SUCH
WARRANTS AND SUCH SHARES OR OTHER SECURITIES TO THE EFFECT THAT REGISTRATION IS
NOT REQUIRED UNDER SUCH ACT AND SUCH STATE SECURITIES LAWS.

    

    VOID
AFTER 5:00 P.M. ON MAY 13, 2014

    

    CLENERGEN
CORPORATION

    COMMON
STOCK PURCHASE WARRANT CERTIFICATE

    

    1,000,000
Common Stock Purchase Warrants

    

    
      
        	 
      	
                London,
      United Kingdom

              
	
                Warrant
      Certificate No. 2010-005

              	
                As
      of May 14, 2010

              

      

    

    

    THIS IS TO CERTIFY THAT, for
value received, Vastani Trading Limited (the “Warrantholder”), is the registered
owner of the number of common stock purchase warrants (each, a “Warrant”) of
Clenergen Corporation, a Nevada corporation (the “Company”), set forth above,
each Warrant entitling the owner thereof to purchase from the Company, at a
purchase price of $0.686 per Warrant (the “Purchase Price”), at any time on or
after the Commencement Date (as defined in paragraph 1(b) below) and terminating
at 5:00 p.m., London, United Kingdom time, on May 13, 2014 (the “Expiration
Time”), one duly authorized, validly issued, fully paid and non-assessable share
(each, a “Warrant Share”) of the common stock, par value $0.001 per share (the
“Common Stock”), of the Company, subject to the terms and conditions contained
herein.  The number of Warrants evidenced by this Warrant Certificate
(and the number and kind of securities which may be purchased upon exercise of
the Warrants), and the Purchase Price per Warrant Share, each as set forth
above, are as of the date hereof.  As provided herein, the Purchase
Price and the number of shares of Common Stock or other securities which may be
purchased upon the exercise of the Warrants evidenced by this Warrant
Certificate are, upon the happening of certain events, subject to modification
and adjustment.

    

    This
Warrant Certificate, together with any warrant certificate(s) issued in
replacement or substitution hereof (as provided for herein) evidencing all or
part of the Warrants evidenced hereby, are sometimes collectively referred to
herein as the “Warrant Certificates.”

    

    The
rights of the registered holder of this Warrant Certificate shall be subject to
the following further terms and conditions:

    

    1.           Exercise
of Warrants.

    

    (a)        
The Warrants may be exercised, in whole or in part, at any time and from time to
time, during the period commencing on the Commencement Date and terminating at
the Expiration Time by surrendering this Warrant Certificate, with the Exercise
Form provided for herein duly completed and executed by the Warrantholder or by
the Warrantholder’s duly authorized attorney-in-fact, at the principal office of
the Company, presently located at Bath House, 8 Chapel Place, London EC2A 3DQ
United Kingdom, or at such other office or agency in the United States as the
Company may designate by notice in writing to the Warrantholder (in either
event, the “Company Offices”), accompanied by payment in full, either in the
form of cash, bank cashier’s check or certified check payable to the order of
the Company, of the Purchase Price payable in respect of the Warrants being
exercised.

    
      
         

      

      
        
        

        
          

        

      

      
         

      

    

    (b)        
For purposes of this Warrant Certificate, the term “Commencement Date” shall
mean May 14, 2010.

    

    (c)        On
the day immediately following the date of a valid exercise of any Warrants, the
Warrantholder exercising such Warrant(s) shall be deemed to have become the
holder of record for all purposes of the Warrant Shares to which such valid
exercise relates.

    

    (d)       
As soon as practicable, but not in excess of five days, after the valid exercise
of all or part of the Warrants evidenced by this Warrant Certificate, the
Company, at the Company’s expense (including the payment by Company of any
applicable issuance and similar taxes), will cause to be issued in the name of
and delivered to the Warrantholder, or such other party identified in the
purchase form, certificates evidencing the number of duly authorized, validly
issued, fully paid and non-assessable Warrant Shares to which the Warrantholder,
or such other party identified in the Exercise Form, shall be entitled upon such
exercise, as adjusted to reflect the effects, if any, of the anti-dilution
provisions of section 3 of this Warrant Certificate, such certificates to be in
such reasonable denominations as Holder shall request when delivering the duly
completed Exercise Form.

    

    (e)       
No certificates for fractional Warrant Shares shall be issued upon the exercise
of any of the Warrants but, in lieu thereof, the Company shall, upon exercise of
all the Warrants, round up any fractional Warrant Shares to the nearest whole
share of Common Stock.

    

    (f)         If
fewer than all of the Warrants are exercised, the Company shall, upon each
exercise prior to the Expiration Time, execute and deliver to the Warrantholder
a new Warrant Certificate (dated as of the date hereof) evidencing the balance
of the Warrants that remain exercisable.

    

    2.           Issuance of Common Stock; Reservation
of Warrant Shares.  The Company covenants and agrees
that:

    

    (a)         all
Warrant Shares which may be issued upon the exercise of all or part of the
Warrants will, upon issuance in accordance with the terms hereof, be validly
issued, fully paid and non-assessable and free from all taxes, liens and charges
with respect to the issue thereof;

    

    (b)         at
all times prior to the Expiration Time, the Company shall keep reserved for
issuance a sufficient number of authorized shares of Common Stock to permit the
exercise in full of the Warrants evidenced by this Warrant Certificate;
and

    

    (c)         if
any shares of Common Stock to be reserved for the purpose of the issuance of
Warrant Shares upon the exercise of Warrants require registration with, or
approval of, any governmental authority under any federal or state law before
such shares may be validly issued or delivered upon exercise, then the Company
will promptly use its best efforts to effect such registration or obtain such
approval, as the case may be.

    

    3.           Adjustments of Purchase Price, Number
and Character of Warrant Shares, Number of Warrants.  The
Purchase Price and the number and kind of securities purchasable upon the
exercise of each Warrant shall be subject to adjustment from time to time upon
the happening of the events enumerated in this section 3.

    

    (a)       
  Stock
Dividends, Subdivisions and Combinations.  In case the Company
shall at any time on or before the Expiration Time:

    (i)           pay
a dividend in shares of Common Stock or make a distribution in shares of Common
Stock or such other stock to holders of all its outstanding shares of Common
Stock;

    (ii)          subdivide,
reclassify or recapitalize the outstanding shares of Common Stock into a greater
number of shares;

    (iii)         combine,
reclassify or recapitalize the outstanding shares of Common Stock into a smaller
number of shares of Common Stock; or

    
      
         

      

      
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    (iv)         issue
by reclassification of shares of Common Stock into any other securities of the
Company (including any such reclassification in connection with a consolidation
or merger in which the Company is the continuing corporation);

    then the
number and kind of Warrant Shares purchasable upon exercise of each Warrant
outstanding immediately prior thereto shall be adjusted so that the
Warrantholder shall be entitled to receive the kind and number of shares of
Common Stock or other securities of the Company which the Warrantholder would
have owned or have been entitled to receive after the happening of any of the
events described above had such Warrant been exercised in full immediately prior
to the earlier of the happening of such event or any record date in respect
thereto.  In the event of any adjustment of the number of Warrant
Shares purchasable upon the exercise of each then outstanding Warrant pursuant
to this paragraph 3(a), the Purchase Price shall be adjusted to be the amount
resulting from dividing the number of shares of Common Stock (including
fractional shares of Common Stock) covered by such Warrant immediately after
such adjustment into the total amount payable upon exercise of such Warrant in
full immediately prior to such adjustment.  An adjustment made
pursuant to this paragraph 3(a) shall become effective immediately after the
effective date of such event retroactive to the record date for any such
event.  Such adjustment shall be made successively whenever any event
listed in clauses (i) through (iv) of this paragraph 3(a) shall
occur.

    

    (b)       
  Capital
Reorganizations and Other Reclassifications.  In case of any
capital reorganization of the Company, or of any reclassification of the shares
of Common Stock (other than a reclassification, subdivision or combination of
shares of Common Stock referred to in paragraph 3(a) of this Warrant
Certificate), or in case of the consolidation of the Company with, or the merger
of the Company with, or merger of the Company into, any other corporation (other
than a reclassification of the shares of Common Stock referred to in paragraph
3(a) of this Warrant Certificate or a consolidation or merger which does not
result in any reclassification or change of the outstanding shares of Common
Stock) or of the sale of the properties and assets of the Company as, or
substantially as, an entirety to any other corporation or entity occurring on or
before the Expiration Time, each Warrant shall, after such capital
reorganization, reclassification of shares of Common Stock, consolidation,
merger, or sale, be exercisable, upon the terms and conditions specified in this
Warrant Certificate, for the kind, amount and number of shares or other
securities, assets, or cash to which a holder of the number of shares of Common
Stock purchasable (at the time of such capital reorganization, reclassification
of shares of Common Stock, consolidation, merger or sale) upon exercise of such
Warrant would have been entitled to receive upon such capital reorganization,
reclassification of shares of Common Stock, consolidation, merger, or sale; and,
in any such case, if necessary, the provisions set forth in this section 3 with
respect to the rights and interests thereafter of the Warrantholder shall be
appropriately adjusted so as to be applicable, as nearly equivalent as possible,
to any shares or other securities, assets, or cash thereafter deliverable on the
exercise of the Warrants.  The Company shall not effect any such
consolidation, merger, or sale, unless prior to or simultaneously with the
consummation thereof the successor corporation or entity (if other than the
Company) resulting from such consolidation or merger or the corporation or
entity purchasing such assets or other appropriate corporation or entity shall
assume, by written instrument, the obligation to deliver to the Warrantholder
such shares, securities, assets, or cash as, in accordance with the foregoing
provisions, such holders may be entitled to purchase and the other obligations
hereunder.  The subdivision or combination of shares of Common Stock
at any time outstanding into a greater or lesser number of shares shall not be
deemed to be a reclassification of the shares of Common Stock for purposes of
this paragraph 3(b).

    

    4.           Definition of Common
Stock.  The Common Stock issuable upon exercise of the Warrants
shall be the Common Stock as constituted on the Commencement Date, except as
otherwise provided in section 3 of this Warrant Certificate.

    

    5.           Replacement of Warrant
Certificates.  If this Warrant Certificate shall be lost,
stolen, mutilated or destroyed, the Company shall, on such terms as to indemnity
or otherwise as the Company may in the Company’s discretion reasonably impose,
issue a new certificate of like tenor or date representing in the aggregate the
right to subscribe for and purchase the number of shares of Common Stock which
may be subscribed for and purchased hereunder.  Any such new
certificate shall constitute an original contractual obligation of the Company,
whether or not the allegedly lost, stolen, mutilated or destroyed Warrant
Certificate shall be at any time enforceable by anyone.

    
      
         

      

      
        -3-

        
          

        

      

      
         

      

    

    6.           Registration.  This
Warrant Certificate, as well as all other warrant certificates representing
Warrants shall be numbered and shall be registered in a register (the “Warrant
Register”) maintained at the Company Offices as they are issued.  The
Warrant Register shall list the name, address and Social Security or other
federal taxpayer identifying number, if any, of all
Warrantholders.  The Company shall be entitled to treat the
Warrantholder as set forth in the Warrant Register as the owner in fact of the
Warrants as set forth therein for all purposes and shall not be bound to
recognize any equitable or other claim to or interest in such Warrants on the
part of any other person, and shall not be liable for any registration of
transfer of Warrants that are registered or to be registered in the name of a
fiduciary or the nominee of a fiduciary unless made with the actual knowledge
that a fiduciary or nominee is committing a breach of trust in requesting such
registration of transfer, or with such knowledge of such facts that its
participation therein amounts to bad faith.

    

    7.           Transfer.

    

    (a)         Subject
to paragraph 7(b) of this Warrant Certificate, the Warrantholder may transfer or
assign the Warrants evidenced by this Warrant Certificate, in whole or in part,
to any officer, director, principal, member, equity owner, employee, consultant
or affiliate of the Warrantholder by surrendering this Warrant Certificate, with
the Assignment Form, substantially in the form provided herein, completed and
duly executed by the Warrantholder or by the Warrantholder’s duly authorized
attorney-in-fact, at the Company Offices.  The Company shall execute
and deliver a new Warrant Certificate in the name of the assignee or assignees
set forth in the Assignment Form and this Warrant Certificate shall promptly be
canceled.  If fewer than all of the Warrants are assigned, the Company
shall execute and deliver to the Warrantholder a new Warrant Certificate (dated
as of the date of this Warrant Certificate) evidencing the balance of the
Warrants that remain exercisable by the Warrantholder.

    

    (b)         NEITHER THE WARRANTS REPRESENTED BY
THIS WARRANT CERTIFICATE NOR THE SHARES OF COMMON STOCK OR ANY OTHER SECURITIES
ISSUABLE UPON EXERCISE OF SUCH WARRANTS HAVE BEEN REGISTERED UNDER THE
SECURITIES ACT OF 1933, AS AMENDED.  SUCH WARRANTS HAVE BEEN ACQUIRED,
AND ANY SHARES OF COMMON STOCK OR ANY OTHER SECURITIES ISSUABLE UPON EXERCISE OF
SUCH WARRANTS ARE REQUIRED TO BE ACQUIRED, FOR INVESTMENT PURPOSES AND NOT WITH
A VIEW TO DISTRIBUTION OR RESALE, AND MAY NOT BE SOLD, ASSIGNED, PLEDGED,
HYPOTHECATED NOR OTHERWISE TRANSFERRED WITHOUT AN EFFECTIVE REGISTRATION
STATEMENT FOR SUCH WARRANTS AND/OR SUCH SHARES OR OTHER SECURITIES UNDER THE
SECURITIES ACT OF 1933, AS AMENDED, AND APPLICABLE STATE SECURITIES LAWS OR AN
OPINION OF COUNSEL SATISFACTORY TO THE ISSUER OF SUCH WARRANTS AND SUCH SHARES
OR OTHER SECURITIES TO THE EFFECT THAT REGISTRATION IS NOT REQUIRED UNDER SUCH
ACT AND SUCH STATE SECURITIES LAWS.

    

    (c)         In
the event of a transfer of any Warrants in accordance with this section 7, the
Company shall, upon the surrender of this Warrant Certificate with the
Assignment Form completed, dated and signed, execute and deliver to the
transferee a new warrant certificate, substantially in form to this Warrant
Certificate, evidencing the number of Warrants so transferred to such transferee
and naming the transferee as the Warrantholder.

    

    8.           Exchange of Warrant
Certificates.  This Warrant Certificate may be exchanged for
another certificate or certificates entitling the Warrantholder thereof to
purchase a like aggregate number of Warrant Shares as this Warrant Certificate
entitles such Warrantholder to purchase.  A Warrantholder desiring to
so exchange this Warrant Certificate shall make such request in writing
delivered to the Company, and shall surrender this Warrant Certificate
therewith.  Thereupon, the Company shall execute and deliver to the
person entitled thereto a new certificate or certificates, as the case may be,
as so requested.

    

    9.           Notices.  All
notices and other communications hereunder shall be in writing and shall be
deemed given when delivered in person, against written receipt therefor, or two
days after being sent, by registered or certified mail, postage prepaid, return
receipt requested, and, if to the Warrantholder, at such address as is shown on
the Warrant Register or as may otherwise may have been furnished to the Company
in writing in accordance with this section 9 by the Warrantholder and, if to the
Company, at the Company Offices or such other address as the Company shall give
notice thereof to the Warrantholder in accordance with this section
9.

    

    10.         Registration
Rights.  The Company is under no obligation to register any of
the Warrants evidenced by this Warrant Certificate nor the shares of Common
Stock issuable upon exercise of any of such Warrants.

    
      
         

      

      
        -4-

        
          

        

      

      
         

      

    

    11.         Miscellaneous.  This
Warrant Certificate and any term hereof may be changed, waived, discharged or
terminated only by an instrument in writing signed by the party against which
enforcement of such change, waiver, discharge or termination is
sought.  This Warrant Certificate is deemed to have been delivered in
the State of Nevada and shall be construed and enforced in accordance with and
governed by the laws of such State.  The headings in this Warrant
Certificate are for purposes of reference only, and shall not limit or otherwise
affect any of the terms hereof.

    12.         Expiration.  Unless
as hereinafter provided, the right to exercise the Warrants shall expire at the
Expiration Time.

    

    13.         No Rights as Shareholder; Notice to
Warrantholder.

    

    (a)         Nothing
contained in this Warrant Certificate shall be constructed as conferring upon
the Warrantholder the right to vote or to receive distributions or to consent to
or receive notice as a shareholder in respect of any meeting of shareholders for
the election of directors of the Company or any other matter, or any other
rights whatsoever as shareholder of the Company.

    

    (b)         The
Company shall give notice to the Warrantholder by postage-paid, certified mail,
return receipt requested, if, at any time prior to the Expiration Time, any of
the following events shall occur:

    (i)           the
Company shall authorize the payment of any distributions upon Common Stock
payable in any securities or authorize the making of any distribution of this
Warrant Certificate) to all holders of Common Stock;

    (ii)          the
Company shall authorize the issuance to all holders of Common Stock of any
additional shares of Common Stock or of rights, options or warrants to subscribe
for or purchase Common Stock or of any other subscription rights, options or
warrants;

    (iii)         a
dissolution, liquidation or winding up of the Company (including, without
limitation, a consolidation, merger, or sale or conveyance of the property of
the Company as an entirety or substantially as an entirety); or

    (iv)         a
capital reorganization or reclassification of the Common Stock (other than a
subdivision or combination of the outstanding Common Stock) or any consolidation
or merger of the Company with or into another corporation (excluding any
consolidation or merger in which the Company is the continuing company and that
does not result in any reclassification of, or change to, the Common Stock then
outstanding) or in the case of any sale or conveyance to another corporation of
the property of the Company as an entirety or substantially as an
entirety.

    

    Such
giving of notice shall be given (x) at least twenty business days (i.e., a day other than a
Saturday, Sunday or other day on which banks in the State of New York are
authorized by law to remain closed) prior to the date fixed as a record date or
effective date or the date of closing of the Company’s transfer books for the
determination of the holders entitled to such distribution or subscription
rights, or for the determination of the holders entitled to vote on such
proposed merger, consolidation, sale, conveyance, dissolution, liquidation,
winding up or conversion to corporate or other form.  Such notice
shall specify such record date or the date of closing the transfer books, as the
case may be.  In addition, the Company shall provide to Warrantholder,
at the same time such notice is provided, such information relating to such
distribution or subscriptions rights, or proposed merger, consolidation, sale,
conveyance, dissolution, liquidation, winding up or conversion to corporate or
other form as may be reasonably necessary for Warrantholder to make an informed
decision whether to exercise Warrantholder’s rights as evidenced by this Warrant
Certificate.

    

    14.         Severability.  If
any term or other provision of this Warrant Certificate is invalid, illegal or
incapable of being enforced by any law or public policy, all other terms and
provisions of this Warrant Certificate shall nevertheless remain in full force
and effect so long as the economic or legal substance of the transactions
contemplated hereby is not affected in any manner materially adverse to either
the Company or Warrantholder.  Upon such determination that any term
or other provision is invalid, illegal or incapable of being enforced, the
Company and Warrantholder shall negotiate in good faith to modify this Warrant
Certificate so as to effect the original intent of the Company and Vastani
Company S.A. in connection with the issuance of the Warrants, to the greatest
extent possible.  Any provision of this Warrant Certificate held
invalid or unenforceable only in part, degree or in certain jurisdictions will
remain in full force and effect to the extent not held invalid or
unenforceable.

    
      
         

      

      
        -5-

        
          

        

      

      
         

      

    

    IN WITNESS WHEREOF, Clenergen
Corporation has caused this Warrant Certificate to be executed by its officer
thereunto duly authorized.

    

    
      
        	
                Dated:  As
      of May 14, 2010

              	
                Clenergen
      Corporation

              
	 
      	 
      	 
      
	 
      	
                By:  

              	
                /s/ Mark L.M. Quinn

              
	 
      	 
      	
                Mark
      L. M. Quinn

              
	 
      	 
      	
                Chief
      Executive Officer

              

      

    

    

    ATTEST:

    

    
      
        	
                s/s Jessica Hatfield

              
	
                Jessica
      Hatfield, Secretary

              

      

    

    
      
         

      

      
        -6-

        
          

        

      

      
         

      

    

    EXERCISE
FORM

    

                                    Dated: ____________,
20__

    

    TO:
Clenergen Corporation:

    

    The
undersigned hereby irrevocably elects to exercise its warrant exercise rights
evidenced by this Warrant Certificate to the extent of purchasing
_______________ shares of Common Stock of Clenergen Corporation and hereby makes
payment of the aggregate Purchase Price therefor by tendering, contemporaneous
with the delivery of this Warrant Certificate, the amount of $_____________ in
the form of (a) cash or (b) bank cashier’s or certified check payable to the
order of “Clenergen Corporation.”

      

    
      
        
          
            
              
                
                  
                    
                      
                        	 	 
	 	 
	 	
                                INSTRUCTIONS
      FOR REGISTRATION OF STOCK

                              
	 	
                                (Please
      type or print in block letters)

                              
	 	 
	
                                           
      Name:

                              	 
      
	
                                      
      Taxpayer

                              	 
      
	
                                Identification    

                              	 
      
	
                                         Number:

                              	 
      
	 
      	 
      
	
                                        Address:

                              	 
      
	 
      	 
      
	 
      	 
      
	 
      	 
      
	 
      	 
      
	 
      	 
      
	 
      	 
      
	 
      	 
      
	
                                     
      Signature:

                              	 
      
	 
      	
                                (Signature
      must conform in all respects to the name of the

                              
	 
      	
                                Warrantholder
      as set forth on the face of this Warrant
  Certificate.)

                              

                      

                    

                  

                

              

            

          

        

      

    

    
      
         

      

      
        -7-

        
          

        

      

      
         

      

    

    ASSIGNMENT
FORM

    (Please
type or print in block letters)

    

    FOR VALUE
RECEIVED, ________________________________________________________

    

    hereby
sells, assigns and transfers unto:

    

    
      
        	
                            
      Name:

              	 
      
	
                       
      Taxpayer

              	 
      
	
                Identification     

              	 
      
	
                        
      Number:

              	 
      
	 
      	 
      
	
                       
      Address:

              	 
      
	 
      	 
      
	 
      	 
      
	 
      	 
      
	 
      	 
      

      

    

    

    this
Warrant Certificate and the Warrants represented by this Warrant Certificate to
the extent of ________________ Warrants and does hereby irrevocably constitute
and appoint ___________________________ Attorney-in-Fact, to transfer the same
on the books of the Company with full power of substitution in the
premises.

    

    
      
        	
                           
      Dated:

              	 
      
	 
      	 
      
	
                      Signature:     

              	 
      
	 
      	
                (Signature
      must conform in all respects to the name of the

              
	 
      	
                Warrantholder
      as set forth on the face of this Warrant
  Certificate.)

              

      

    

    
      
         

      

      
        -8-

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