Document:

SHARE
      TRANSACTION PURCHASE AGREEMENT

    

    THIS
      SHARE TRANSACTION PURCHASE AGREEMENT
      dated as
      of the 24th
      day of
      September, 2008 (the “Agreement”),
      by
      and amongst MAXIMUS
      EXPLORATION CORPORATION,
      a
      Nevada corporation (“MAXIMUS”
or
      the
“Company”);
      EXTRAORDINARY
      VACATION GROUP, INC.,
      a
      Nevada corporation (“EXVG”),
      and
EXTRAORDINARY
      VACATIONS USA, INC.,
      a
      Delaware corporation and wholly owned subsidiary of EXVG (“EVUSA”).
      The
      entities above are collectively referred to as the Parties.

    

    WITNESSETH:

    

    WHEREAS,
      Company
      is publicly held with no operating assets or business and desires to acquire
      a
      business; and

     

    WHEREAS,
      EVUSA
      is a new media company with a business consisting of travel divisions, travel
      contacts, expertise and assets, including Cruise and Vacation Shoppes, Attaché
Concierge, The Travel Magazine TV Shows and Maupintours Extraordinary Vacations,
      Nexttrip.com (a travel web site), Internet, interactive television, mobile
      phones and other emerging venues for advertisers and consumer commerce, a travel
      video library of over 400 destinations and comprising over 1,000 hours of
      programming, an email database of over six million opt-in travelers, and an
      Internet radio station (NextTrip Radio) that provides travel info 24/7. It
      also
      has strategic alliances with various new media firms to provide NextTrip.com
      with additional content, content distribution, advertising inventory and
      infrastructure support (the “Business”);
      and

     

    WHEREAS,
      there
      are 1,000 EVUSA shares of capital stock issued and outstanding as of the date
      of
      this Agreement (the “EVUSA
      Shares”);
      and

    

    WHEREAS,
      EXVG
      owns all of the EVUSA Shares; and

    

    WHEREAS,
      the
      Company desires to acquire from EXVG, and EXVG desires to sell to the Company,
      the EVUSA Shares in consideration of an aggregate of 13,000,000 shares of the
      Company’s Common Stock, (the “Transaction
      Shares”)
      representing approximately 70.23% of the Company’s issued and outstanding shares
      of capital stock on a fully diluted basis after taking into account the
      transactions contemplated herein (the “Transaction”);
      and

    

    WHEREAS,
      after
      giving effect to the Transaction there will be 18,511,500 shares of Company
      Common Stock issued and outstanding.

    

    NOW,
      THEREFORE,
      in
      consideration of the premises and of the mutual representations, warranties
      and
      agreements set forth herein, the parties hereto agree as follows:

    

    ARTICLE
      I

    THE
      TRANSACTION

    

    1.1 The
      Transaction.
      Subject
      to the terms and conditions of this Agreement, on the Closing Date (as
      hereinafter defined), the Company shall issue and deliver to EXVG an aggregate
      of 13,000,000 shares and EXVG shall deliver to the Company stock certificate(s)
      evidencing all of all of the issued and outstanding shares of EVUSA,
duly
      endorsed on the reverse side of such stock certificate(s) or accompanied by
      duly
      executed stock powers
      and any
      and all other duly executed transfer documents required to transfer the EVUSA
      Shares to Company. At any time, and from time to time, upon request of the
      Company after the Closing Date, EXVG agrees to duly execute, acknowledge and
      deliver, without further consideration, all such further documents, and take
      all
      such further actions consistent with this Agreement and the Transaction
      contemplated hereby, as shall be necessary to effectuate the transfer of the
      EVUSA Shares as provided herein free of all liens, security interests, pledges,
      restrictions, encumbrances, equities, claims, charges, voting agreements, voting
      trusts, proxies and rights of any kind, nature or description. 

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    1.2 Time
      and Place of Closing.
      The
      closing of the Transaction contemplated hereby (the “Closing”)
      shall
      take place through The Sourlis Law Firm on or about September 26, 2008 (the
      “Closing
      Date”)
      at
      10:00 a.m. (New York Time), or at such place and time as mutually agreed upon
      by
      the parties hereto. 

     

    1.3 Effective
      Time.
      The
      Transaction shall become effective (the “Effective
      Time”)
      at the
      earlier to occur of (i) such time as all of the conditions to set forth in
      Article VII hereof have been satisfied or waived by the Parties
      hereto.

    

    ARTICLE
      II

    REPRESENTATIONS
      AND WARRANTIES OF THE COMPANY

    

    The
      Company represents and warrants to EXVG and EVUSA that now and as of the Closing
      Date:

    

    2.1 Due
      Organization and Qualification; Due Authorization.
      

    

    
      	 	
              (i)

            	
              The
                Company is a corporation duly incorporated, validly existing and
                in good
                standing under the laws of the State of Nevada, with full corporate
                power
                and authority to own, lease and operate its respective business and
                properties and to carry on its business in the places and in the
                manner as
                presently conducted or proposed to be conducted. The Company is in
                good
                standing as a foreign corporation in each jurisdiction in which the
                properties owned, leased or operated, or the business conducted,
                by which
                it requires such qualification except for any such failure, which
                when
                taken together with all other failures, is not likely to have a material
                adverse effect on the business of the
                Company.

            

    

    

    
      	 	
              (ii)

            	
              The
                Company does not own, directly or indirectly, any capital stock,
                equity or
                interest in any corporation, firm, partnership, joint venture or
                other
                entity.

            

    

    

    
      	 	
              (iii)

            	
              The
                Company has all requisite corporate power and authority to execute
                and
                deliver this Agreement, and to consummate the Transaction contemplated
                hereby. The Company has taken all corporate action necessary for
                the
                execution and delivery of this Agreement and the consummation of
                the
                Transaction contemplated hereby, and this Agreement constitutes the
                valid
                and binding obligation of the Company, enforceable against the Company
                in
                accordance with its terms, except as may be affected by bankruptcy,
                insolvency, moratoria or other similar laws affecting the enforcement
                of
                creditors’ rights generally and subject to the qualification that the
                availability of equitable remedies is subject to the discretion of
                the
                court before which any proceeding therefore may be
                brought.

            

    

    

    2.2 No
      Conflicts or Defaults.
      The
      execution and delivery of this Agreement by the Company and the consummation
      of
      the transactions contemplated hereby do not and shall not (a) contravene the
      Articles of Incorporation or By-laws of the Company, or (b) with or without
      the
      giving of notice or the passage of time (i) violate, conflict with, or result
      in
      a breach of, or a default or loss of rights under, any material covenant,
      agreement, mortgage, indenture, lease, instrument, permit or license to which
      the Company is a party or by which the Company is bound, or any judgment, order
      or decree, or any law, rule or regulation to which the Company is subject,
      (ii)
      result in the creation of, or give any party the right to create, any lien,
      charge, encumbrance or any other right or adverse interest (“Liens”) upon any of
      the assets of the Company, (iii) terminate or give any party the right to
      terminate, amend, abandon or refuse to perform, any material agreement,
      arrangement or commitment to which the Company is a party or by which the
      Company’s assets are bound, or (iv) accelerate or modify, or give any party the
      right to accelerate or modify, the time within which, or the terms under which,
      the Company is to perform any duties or obligations or receive any rights or
      benefits under any material agreement, arrangement or commitment to which it
      is
      a party.

    

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

    2.3 Capitalization.
      The
      authorized capital stock of the Company immediately prior to giving effect
      to
      the Transaction contemplated hereby consists of 100,000,000 authorized shares
      of
      Common Stock, par value $0.00001 per share, and 100,000,000 authorized shares
      of
      Preferred Stock, par value $0.00001. As of the date hereof, there are an
      aggregate of 5,511,500 shares of Company Common Stock issued and outstanding
      and
      no shares of Preferred Stock issued and outstanding. All of the outstanding
      shares of Company Common Stock are, and the shares of the Company’s Common
      Stock, when issued in accordance with the terms hereof, will be duly authorized,
      validly issued, fully paid and non-assessable, and have not been or, with
      respect to such shares, will not be issued in violation of any preemptive right
      of stockholders. There is no outstanding voting trust agreement or other
      contract, agreement, arrangement, option, warrant, call, commitment or other
      right of any character obligating or entitling the Company to issue, sell,
      redeem or repurchase any of its securities, and there is no outstanding security
      of any kind convertible into or exchangeable for Company Common Stock. The
      Company has not granted registration rights to any person.

    

    2.4 Financial
      Statements.
      The
      Company has furnished EXVG with (a) the Company’s audited Balance Sheets,
      Operations and Deficit and Cash Flow for the fiscal years February 28, 2006,
      2007 and 2008 and (b) the Company’s unaudited Balance Sheets, Operations and
      Deficit and Cash Flows for the three months ended May 31, 2008 (collectively,
      the “MAXIMUS
      Financial Statements”)

    

    2.5 No
      Assets or Liabilities.
      Except
      as set forth in the MAXIMUS Financial Statements, the Company does not have
      any
      (a) assets of any kind or (b) liabilities or obligations, whether secured or
      unsecured, accrued, determined, absolute or contingent, asserted or unasserted
      or otherwise other than those assets acquired or liabilities incurred in the
      ordinary course of business consistent with past practice.

    

    2.6 Taxes.
      The
      Company has, to the best of its knowledge, filed all tax returns and reports
      which were required to be filed on or prior to the date hereof in respect of
      all
      income, withholding, franchise, payroll, excise, property, sales, use,
      value-added or other taxes or levies, imposts, duties, license and registration
      fees, charges, assessments or withholdings of any nature whatsoever (together,
      “Taxes”), and, to the best of its knowledge, has paid all Taxes (and any related
      penalties, fines and interest) which have become due pursuant to such returns
      or
      reports or pursuant to any assessment which has become payable, or, to the
      extent its liability for any Taxes (and any related penalties, fines and
      interest) has not been fully discharged, the same have been properly reflected
      as a liability on the books and records of the Company and adequate reserves
      therefore have been established. 

    

    2.7 Indebtedness;
      Contracts; No Defaults.
      Except
      as set forth in the MAXIMUS Financial Statements there are no agreements,
      indentures, mortgages, guarantees, notes, commitments, accommodations, letters
      of credit or other arrangements or understandings, whether written or oral,
      to
      which the Company is a party, other than those liabilities incurred in the
      ordinary course of business consistent with past practices.

    

    2.8 Real
      Property.
      The
      Company does not own or lease any real property.

    

    2.9 Compliance
      with Law.
      The
      Company, to the best of its knowledge, is conducting its business in material
      compliance with all applicable laws, ordinances, rules, regulations, court
      or
      administrative order, decree or process (“Applicable
      Laws”).
      The
      Company has not received any notice of violation or claimed violation of any
      Applicable Law.

    

    2.10 Litigation.
      

    

    There
      is
      no claim, dispute, action, suit, proceeding or investigation pending or, to
      the
      knowledge of the Company, threatened, against the Company, or challenging the
      validity or propriety of the transactions contemplated by this Agreement, at
      law
      or in equity or admiralty or before any federal, state, local, foreign or other
      governmental authority, board, agency, commission or instrumentality, nor to
      the
      knowledge of the Company, has any such claim, dispute, action, suit, proceeding
      or investigation been pending or threatened, during the twelve month period
      preceding the date hereof;

    

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

    There
      is
      no outstanding judgment, order, writ, ruling, injunction, stipulation or decree
      of any court, arbitrator or federal, state, local, foreign or other governmental
      authority, board, agency, commission or instrumentality, against or materially
      affecting the business of the Company; and

    

    The
      Company has not received any written or verbal inquiry from any federal, state,
      local, foreign or other governmental authority, board, agency, commission or
      instrumentality concerning the possible violation of any Applicable
      Law.

    

    2.11 Trading.
      The
      Company Common Stock is currently trading on the OTCBB under the ticker symbol
      MXEX.

    

    2.12 SEC
      Reports.
      The
      Company’s SEC Reports are (i) accurate and complete, (ii) contain all
      information required to be filed under the rules and regulations of the SEC,
      (iii) are not subject to any outstanding SEC comment letters or inquiries,
      and
      (iv) do not contain any false statement of fact or fail to state any fact
      necessary to make the facts stated therein not misleading. The Company has
      never
      been subject to any investigation, injunction or cease and desist action by
      the
      Securities and Exchange Commission or other federal or state regulatory agency
      and to its Knowledge is not currently subject to such pending or threatened
      actions.

    

    2.13 No
      Taxes.
      The
      Company is not, and will not, to the best of its knowledge, become with respect
      to any periods ending on or prior to the Closing Date, liable for any income,
      sales, withholding, franchise, excise, license, real or personal property taxes
      (a “Tax”)
      to any
      foreign, United States federal, state or local governmental agencies whatsoever.
      All United States federal, state, county, municipality local or foreign income
      Tax returns and all other material Tax returns (including information returns)
      that are required, or have been required, to be filed by or on behalf of the
      Company has been or will be filed as of the Closing Date and all Taxes due
      pursuant to such returns or pursuant to any assessment received by the Company
      have been or will be paid as of the Closing Date. The charges, accruals and
      reserves on the books of the Company in respect of taxes or other governmental
      charges have been established in accordance with the tax method of accounting.
      All returns of the Company that have been filed relating to Tax are true and
      accurate in all material respects. No audit, action, suit, proceeding or other
      examination regarding taxes for which the Company may have any liability is
      currently pending against or with respect to the Company and the Company has
      not
      received any notice (formally or informally) of any audit, suit, proceeding
      or
      other examination. No material adjustment relating to any Tax returns, no
      closing or similar agreement have been entered into or issued or have been
      proposed (formally or informally) by any tax authority (insofar as such action
      relate to activities or income of or could result in liability of the Company
      for any Tax) and no basis exists for any such actions. The Company has not
      changed any election, adopted or changed any accounting method or period, filed
      any amended return for any Tax, settled any claim or assessment of any Tax,
      or
      surrendered any right to claim any refund of any Tax, or consented to any
      extension or waiver of the statute of limitations for any Tax. The Company
      has
      not had an “ownership change” as that term is defined in Section 382 of the
      Internal Revenue Code of 1986, as amended and in effect.

    

    2.14 Conduct
      of the Business.
      The
      Company is a shell company as defined in Rule 12b-2 of the Exchange. From and
      after June 30, 2008 until the Closing Date:

     

    
      	 	
              (i)

            	
              The
                Company has not made any expenditures or entered into any commitments
                which, when compared to past operations of their businesses, are
                unusual
                or extraordinary or outside the scope of the normal course of routine
                operations;

            

    

     

    
      	 	
              (ii)

            	
              The
                Company has kept in a normal state of repair and operating efficiency
                all
                tangible personal property used in the operation of their
                businesses;

            

    

     

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

     

     

    
      	 	
              (iii)

            	
              The
                Company has used their best efforts to maintain the good will associated
                with their businesses, and the existing business relationships with
                their
                agents, customers, lessors, key employees, suppliers and other persons
                having relations with them;

            

    

     

    
      	 	
              (iv)

            	
              The
                Company has not entered into any contract, agreement or action, or
                relinquished or released any rights or privileges under any contracts
                or
                agreements, the performance, violation, relinquishment or release
                of which
                could, on the date on which such contract or agreement was entered
                into,
                or such rights or privileges were relinquished or released, be reasonably
                foreseen to have a material adverse
                effect;

            

    

     

    
      	 	
              (v)

            	
              The
                Company has not made, or agreed to make, any acquisition of stock
                or
                assets of, or made loans to, any person not in the ordinary course
                of
                business;

            

    

     

    
      	 	
              (vi)

            	
              The
                Company has not sold or disposed of any assets or created or permitted
                to
                exist any encumbrance on their assets except (x) in the ordinary
                course of
                business and which could not, on the date of such sale, disposition,
                creation or permission, be reasonably foreseen to have a material
                adverse
                effect or (y) as otherwise permitted by this
                Agreement;

            

    

     

    
      	 	
              (vii)

            	
              The
                Company has kept true, complete and correct books of records and
                accounts
                with respect to their businesses, in which entries will be made of
                all
                transactions on a basis consistent with past practices and in accordance
                with the tax method of accounting consistently applied by the
                Company;

            

    

     

    
      	 	
              (viii)

            	
              The
                Company has paid current liabilities as and when they became due
                and have
                paid or incurred no fees and expenses not in the ordinary course
                of their
                businesses;

            

    

     

    
      	 	
              (ix)

            	
              There
                has been no declaration, setting aside or payment of any dividend
                or other
                distribution in respect of any Shares or any other securities of
                the
                Company (whether in cash or in
                kind);

            

    

     

    
      	 	
              (x)

            	
              The
                Company has not redeemed, repurchased, or otherwise acquired any
                of their
                securities or entered into any agreement to do
                so;

            

    

     

    
      	 	
              (xi)

            	
              The
                Company has not made any loan to, or entered into any other transaction
                with, any of their directors, officers, and
                employees;

            

    

     

    
      	 	
              (xii)

            	
              The
                Company has not made or pledged to make any charitable or other capital
                contribution outside the ordinary course of business;
                and

            

    

     

    
      	 	
              (xiii)

            	
              There
                has not been any other occurrence, event, incident, action, failure
                to act
                or transaction outside the ordinary course of business that would
                have a
                material adverse effect.

            

    

     

    2.15 Liabilities.

     

    
      	 	
              (i)

            	
              Except
                as set forth in the Financial Statements, the Company has no liabilities
                or obligations. It is a condition to Closing that the Company will
                have no
                liabilities upon transfer of the Shares to the
                Purchaser.

            

    

     

    
      	 	
              (ii)

            	
              Since
                May 31, 2008, the Company has not:

            

    

     

    
      	
            	(a)	
              subjected
                to encumbrance, or agreed to do so to any of their assets, tangible
                or
                intangible other than purchase money liens in the ordinary course
                of
                business on equipment used in the conduct of business and incurred
                to
                finance the purchase price of the equipment involved and which do
                not
                cover any other asset of the
                Company;

            

    

     

    
      
         

      

      
        5

        
          

        

      

      
         

      

    

     

    
      	
            	(b)	
              except
                as otherwise contemplated hereby, engaged in any transactions affecting
                their businesses or properties not in the ordinary course of business
                consistent with past practice or suffered any extraordinary losses
                or
                waived any rights of substantial value except in the ordinary course
                of
                business; or

            

    

     

    
      	
            	(c)	
              other
                than in the ordinary course of business consistent with past practice,
                granted or agreed to grant, or paid or agreed to pay any increase
                in the
                rate of wages, salaries, bonuses or other remuneration of any officer,
                director or consultant of the Company or any increase of 5% or more
                in the
                rate of wages, salaries, bonuses or other remuneration of any
                non-officer/director or employee or become a party to any employment
                contract or arrangement with any of its directors, officers, consultants
                or employees or become a party to any contract or arrangement with
                any
                director, officer, consultant or employee providing for bonuses,
                profit
                sharing payments, severance pay or retirement benefits, other than
                as set
                forth in any Exhibit or Schedule
                hereto.

            

    

     

    2.16 ERISA
      Compliance.
      The
      Company maintains no “employee benefit plan” within the meaning of Section 3(3)
      of the Employee Retirement Income Security Act of 1974 (“ERISA”),
      under
      which the Company or any ERISA Affiliate has any current or future obligation
      or
      liability or under which any employee of the Company or any ERISA Affiliate
      has
      any current or future right to benefits. 

    

    2.17 Compliance
      with Law.
      To the
      best of its knowledge, the Company has complied with, and is not in violation
      of
      any provision of laws or regulations of federal, state or local government
      authorities and agencies, including any environmental laws and regulations.
      There are no pending or threatened proceedings against the Company by any
      federal, state or local government, or any department, board, agency or other
      body thereof.

    

    2.18 Consents.
      No
      third parties consents are required to be obtained as a result of the change
      of
      control of the Company hereby.

    

    2.19 Agreements.
      The
      Company is not a party to any material agreement, loan, credit, lease, sublease,
      franchise, license, contract, commitment or instrument or subject to any
      corporate restriction. True, correct and complete copies of all such loan or
      credit agreements have been delivered to the Purchaser. Neither the Company
      nor
      any other party is in default under any such agreement, loan, credit, lease,
      sublease, franchise, license, contract, commitment, instrument or restriction.
      No such instrument requires the consent of any other party thereto in order
      to
      consummate the sales of the Shares hereby.

    

    2.20 Survival
      of Representations.
      The
      representations and warranties herein by the Company are true and correct in
      all
      material respects on and as of the Closing Date with the same force and effect
      as though said representations and warranties had been made on and as of the
      Closing Date and will survive any termination of this Agreement.

    

    ARTICLE
      III

    REPRESENTATIONS
      AND WARRANTIES OF EXVG AND EVUSA

    

    Unless
      stated otherwise, the words “we,”
      “us,”
      “our,”
or
      “EXVG”
in
      this
      Article III of this Agreement collectively refers to Extraordinary Vacation
      Group, Inc. and its wholly-owned subsidiary, Extraordinary Vacations USA,
      Inc.

    

    As
      a
      material inducement to the Company entering into this Agreement, EXVG hereby
      represents, and warrants to the Company the following (except as may be
      otherwise disclosed on a Schedule attached to this Agreement), in each case
      as
      of the date of this Agreement and the Closing Date, unless otherwise
      specifically provided:

    

    
      
         

      

      
        6

        
          

        

      

      
         

      

    

    3.1 Due
      Organization and Qualification; Subsidiaries; Due Authorization.
      

    

    
      	 	
              (i)

            	
              EXVG
                and EVUSA are each a corporation duly organized, validly existing
                and in
                good standing in the state of its respective incorporation with full
                corporate power and authority to own, lease and operate its respective
                businesses and properties and to carry on such businesses in the
                places
                and in the manner as presently conducted or proposed to be conducted.
                EXVG
                and EVUSA are in good standing as foreign corporations in each
                jurisdiction in which the properties owned, leased or operated, or
                the
                business conducted, by them requires such qualification except for
                any
                such failure, which when taken together with all other failures,
                is not
                likely to have a material adverse effect on the business of
                EXVG.

            

    

    

    
      	 	
              (ii)

            	
              EXVG
                and EVUSA each has all requisite power and authority to execute and
                deliver this Agreement, and to consummate the Transaction contemplated
                hereby and thereby. EXVG and EVUSA have taken all corporate action
                necessary for the execution and delivery of this Agreement and the
                consummation of the Transaction contemplated hereby, and this Agreement
                constitutes the valid and binding obligation of EXVG and EVUSA,
                enforceable against EXVG and EVUSA in accordance with its terms,
                except as
                may be affected by bankruptcy, insolvency, moratoria or other similar
                laws
                affecting the enforcement of creditors’ rights generally and subject to
                the qualification that the availability of equitable remedies is
                subject
                to the discretion of the court before which any proceeding therefore
                may
                be brought.

            

    

    

    3.2 No
      Conflicts or Defaults.
      The
      execution and delivery of this Agreement by EXVG and the consummation of the
      transactions contemplated hereby do not and shall not (a) contravene the
      governing documents of EXVG, or (b) with or without the giving of notice or
      the
      passage of time, (i) violate, conflict with, or result in a breach of, or a
      default or loss of rights under, any material covenant, agreement, mortgage,
      indenture, lease, instrument, permit or license to which EXVG is a party or
      by
      which EXVG or any of their respective assets are bound, or any judgment, order
      or decree, or any law, rule or regulation to which their assets are subject,
      (ii) result in the creation of, or give any party the right to create, any
      lien
      upon any of the assets of EXVG, (iii) terminate or give any party the right
      to
      terminate, amend, abandon or refuse to perform any material agreement,
      arrangement or commitment to which EXVG is a party or by which EXVG or any
      of
      its assets are bound, or (iv) accelerate or modify, or give any party the right
      to accelerate or modify, the time within which, or the terms under which EXVG
      is
      to perform any duties or obligations or receive any rights or benefits under
      any
      material agreement, arrangement or commitment to which it is a
      party.

    

    3.4 Financial
      Information.  (i) Financial
      Statements.
      EVUSA
      has furnished Company with (a) an audited Balance Sheet and Statement of Income
      and Cash Flow as of and for the fiscal years ended, 2005, 2006, 2007 and
      February 29, 2008 (collectively, the “Financial
      Statements”)
      and
      (b) an unaudited Balance Sheet and Statement of Income for the interim months
      ended through June 30, 2008 (“Most
      Recent Financial Statement”).
      Except as set forth in Schedule
      3.4(i),
      the
      Financial Statements and Most Recent Financial Statement have been prepared
      in
      accordance with generally accepted accounting principles (“GAAP”)
      consistently applied, present fairly in all material respects the financial
      condition of the Company as of such dates and the results of its operations
      and
      cash flows for such periods, and are consistent with the books and records
      of
      EVUSA; provided, however, that the interim financial statements are subject
      to
      normal year-end adjustments (which will not be material individually or in
      the
      aggregate) and the lack of footnotes and other presentation items. No event
      has
      occurred since the date of the Most Recent Financial Statement that would
      adversely affect the previous sentence.

    

    3.10 Title
      to Shares and Assets.
      EXVG
      are the legal and beneficial owner of the EVUSA Shares constituting one hundred
      percent (100%) of the issued and outstanding equity securities of EVUSA and
      all
      voting and investment power and upon consummation of the Transaction
      contemplated herein. All of the outstanding shares of EVUSA are duly authorized,
      validly issued, fully paid and nonassessable, and have not been or, with respect
      to EVUSA Shares, will not be transferred in violation of any rights of third
      parties. The Company will acquire from EXVG good and marketable title to such
      Shares, free and clear of all any restrictions on transfer, liens, pledges,
      security interests, options, warrants, purchase rights, contracts, commitments,
      equities, claims, and demands of any kind, nature or description, whatsoever.
      EXVG is not a party to any option, warrant, purchase right, or other contract
      or
      commitment that could require EXVG to sell, transfer, or otherwise dispose
      of
      any capital stock of the EVUSA (other than this Agreement). EXVG is not a party
      to any voting trust, proxy, or other agreement or understanding with respect
      to
      the voting of any capital stock of the EVUSA.

    

    
      
         

      

      
        7

        
          

        

      

      
         

      

    

    ARTICLE
      IV

    TRANSACTION
      SHARES

    

    4.1 Purchase
      for Investment.
      EXVG
      acknowledges that the Company’s Transaction Shares has not been registered under
      the Securities Act of 1933, as amended (the “Securities
      Act”),
      or
      any state securities laws, and is being offered and sold in reliance upon
      federal and state exemptions for transactions not involving any public offering.
      EXVG has such knowledge and experience in financial and business matters that
      the EXVG is capable of evaluating the merits and risks of the Transaction Shares
      issued in connection with this Agreement. EXVG has received certain information
      concerning the Company and has had the opportunity to obtain additional
      information as desired by EXVG in order to evaluate the merits and the risks
      inherent in holding the Transaction Shares. EXVG is able to bear the economic
      risk and lack of liquidity inherent in holding the Transaction Shares for an
      indefinite period. EXVG is acquiring the Transaction Shares for investment
      and
      not with a view toward or for sale or distribution thereof within the meaning
      of
      the Securities Act, or with any present intention of distributing or selling
      the
      Transaction Shares within the meaning of the Securities Act. EXVG acknowledges
      and agrees that after the Closing Date, the Transaction Shares may be not sold,
      transferred, offered for sale, pledged, hypothecated or otherwise disposed
      of
      without registration under the Securities Act and any applicable state
      securities laws, except pursuant to an exemption from such registration
      available under the Securities Act or such state securities laws.

    

    The
      certificates representing Transaction Shares will bear a legend which states,
      in
      all material effect the following:

    

    THE
      SECURITIES EVIDENCED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT
      OF
      1933, AS AMENDED OR UNDER THE SECURITIES LAWS OF ANY STATE. THIS RESTRICTED
      SHARE AGREEMENT AND THE SECURITIES UNDERLYING THIS RESTRICTED SHARE AGREEMENT
      MAY NOT BE SOLD, PLEDGED, HYPOTHECATED, TRANSFERRED, OR OTHERWISE DISPOSED
      OF
      UNLESS SUCH SALE, PLEDGE, HYPOTHECATION, TRANSFER, OR OTHER DISPOSITION SHALL
      HAVE BEEN REGISTERED UNDER SAID ACT AND IN COMPLIANCE WITH ANY APPLICABLE STATE
      SECURITIES LAWS OR UNTIL THE COMPANY SHALL HAVE RECEIVED A LEGAL OPINION
      SATISFACTORY IN FORM AND SUBSTANCE TO THE COMPANY, THAT SUCH SECURITIES MAY
      BE
      LEGALLY SOLD OR OTHERWISE TRANSFERRED WITHOUT SUCH REGISTRATION AND
      COMPLIANCE.

    

    4.2 Restricted
      Securities.
      EXVG
      understands that the Transaction Shares may not be sold, transferred, or
      otherwise disposed of without registration under the Act or an exemption
      therefrom, and that in the absence of an effective registration statement
      covering the Transaction
      Shares
      or
      any available exemption from registration under the Act, the Transaction Shares
      must be held indefinitely. EXVG are aware that the Transaction Shares may not
      be
      sold pursuant to Rule 144 promulgated under the Act unless all of the conditions
      of that Rule are met. Among the conditions for use of Rule 144 may be the
      availability of current information to the public about the
      Company.

    

    
      
         

      

      
        8

        
          

        

      

      
         

      

    

    ARTICLE
      V

    COVENANTS

    

    5.1 Further
      Assurances.
      Each of
      the Parties shall use reasonable commercial best efforts to proceed promptly
      with the Transaction contemplated herein, to fulfill the conditions precedent
      for such party’s benefit or to cause the same to be fulfilled and to execute
      such further documents and other papers and perform such further acts as may
      be
      reasonably required or desirable to carry out the provisions of this Agreement
      and to consummate the transactions contemplated herein.

    

    5.2 Operation
      of Business.
      From
      the date hereof through the date of the Closing Date, except as expressly
      provided herein, the Company will:

    

    
      	
            	(i)	
              Continue
                its business only in ordinary
                course;

            

    

    

    
      	
            	(ii)	
              Not,
                without the written consent of the other
                party:

            

    

    

    
      	
            	(a)	
              pay
                any dividends;

            

    

    
      	
            	(b)	
              make
                loans to stockholders or employees;
                and

            

    

    
      	
            	(c)	
              issue
                any additional shares that would materially change the structure
                and
                equity ownership position as set forth
                herein.

            

    

    

    
      	 	
              (iii)

            	
              Report
                to the other party any indication of potential material adverse factors
                in
                its business or any litigation that may be threatened whereby one
                of the
                parties would be a defendant.

            

    

    

    5.3 Directors
      and Officers.

    

    On
      the
      Closing Date (i) Andriy Volianuk, the Company’s sole director, shall resign (ii)
      the Company’s new Board members shall be all of the persons named below, whose
      addresses are set out opposite their respective names (“New
      Directors”):

    

    
      	
              Name

            	
              Municipality
                of Residence

            
	 	 
	
              James
                Whyte

            	
              NextTrip,
                Inc., 2400 North Commerce Pkwy, Suite 105, Weston, FL
                33326

            
	
              William
                Kerby

            	
              NextTrip,
                Inc., 2400 North Commerce Pkwy, Suite 105, Weston, FL
                33326

            
	
              Brad
                Heureux

            	
              NextTrip,
                Inc., 2400 North Commerce Pkwy, Suite 105, Weston, FL
                33326

            
	
              Anthony
                Byron

            	
              NextTrip,
                Inc., 2400 North Commerce Pkwy, Suite 105, Weston, FL
                33326

            

    

    

    Each
      director shall hold office until the first meeting of the shareholders of the
      Company, or until his successor is elected or appointed. The election of
      subsequent directors shall take place thereafter in accordance with the
      provisions of the by-laws of the Company and state statutes. Subject to the
      provisions of the state statutes, the Board shall manage or supervise the
      management of the business and affairs of Company.

    

    Officers

    

    On
      the
      Closing Date, (i) Andriy Volianuk, the Company’s sole officer, shall resign and
      (ii) the Company’s new Board of Directors, in its sole discretion, shall appoint
      new officers.

    

    ARTICLE
      VI

    DELIVERIES

    

    6.1 Items
      to be delivered to EXVG prior to or at Closing by the Company.
      

    

    
      	 	
              (i)

            	
              Company
                Certified Shareholder list;

            

    

     

    
      
         

      

      
        9

        
          

        

      

      
         

      

    

     

    
      	 	
              (ii)

            	
              Resolution
                from the Company’s Board approving the execution and delivery of this
                Agreement by the Company and to consummated the
                Transaction;

            

    

    

    
      	 	
              (iii)

            	
              Certificates
                or proper instructions to the Company’s Transfer Agent representing or
                authorizing and directing the issuance of the Transaction Shares
                to
                EXVG;

            

    

    

    
      	 	
              (iv)

            	
              Resignation
                of Andriy Volianuk from the Company’s Board of Directors and as sole
                officer of the Company;

            

    

    

    
      	 	
              (v)

            	
              Election
                of the New Directors to fill
                vacancy;

            

    

    

    
      	 	
              (vi)

            	
              Officer’s
                Certificate; and

            

    

    

    
      	 	
              (vii)

            	
              Such
                other documents that are reasonable and requested by EXVG as it deems
                necessary for the consummation of this
                transaction.

            

    

    

    6.2 Items
      to be delivered to the Company prior to or at Closing by EXVG.
      

    

    
      	 	
              (i)

            	
              EVUSA
                Certified Shareholder List;

            

    

    

    
      	 	
              (ii)

            	
              Duly
                executed transfer documents and medallion signature original stock
                certificates from EXVG transferring the EVUSA
                Shares;

            

    

    

    
      	 	
              (iii)

            	
              Resolutions
                from the Board of Directors of EXVG approving the Transaction contemplated
                hereby;

            

    

    

    
      	 	
              (iv)

            	
              Board
                Resolutions authorizing the execution and delivery of this Agreement
                and
                approving the Transactions; and

            

    

    

    
      	 	
              (v)

            	
              Such
                other documents that are reasonable and requested by the Company
                as it
                deems necessary for the consummation of this
                Transaction.

            

    

    

    ARTICLE
      VII

    CONDITIONS
      PRECEDENT

    

    7.1 Conditions
      Precedent to Closing.
      The
      obligations of the each of the Parties under this Agreement shall be and are
      subject to fulfillment of the other party, prior to or at the Closing Date,
      of
      each of the following conditions:

    

    
      	 	
              (i)

            	
              That
                each of the representations and warranties of the Parties contained
                herein
                shall be true and correct at the time of the Closing Date as if such
                representations and warranties were made at such time except for
                changes
                permitted or contemplated by this Agreement;
                and

            

    

    

    
      	 	
              (ii)

            	
              That
                the Parties shall have performed or complied with all agreements,
                terms
                and conditions required by this Agreement to be performed or complied
                with
                by them prior to or at the time of the Closing
                Date.

            

    

    

    7.2 Conditions
      to Obligations of EXVG.
      The
      obligations of EXVG shall be subject to fulfillment prior to or at the Closing
      Date, of each of the following conditions: 

    

    
      	 	
              (i)

            	
              The
                Company shall have received all of the regulatory, shareholder and
                other
                third party consents, permits, approvals and authorizations necessary
                to
                consummate the transactions contemplated by this
                Agreement.

            

    

     

    
      
         

      

      
        10

        
          

        

      

      
         

      

    

    
 

    
      	 	
              (ii)

            	
              Receipt
                of resignation of Andriy Volianuk from the Company’s Board of Directors
                and as the sole officer of the Company;
                and

            

    

    

    
      	 	
              (iii)

            	
              Receipt
                of election of the New Directors to fill
                vacancy.

            

    

    

    7.3 Conditions
      to Obligations of the Company.
      The
      obligations of the Company shall be subject to fulfillment at or prior to or
      at
      the Closing Date, of the following condition:

    

    
      	 	
              (i)

            	
              EXVG
                and EXVG shall have received all of the regulatory, shareholder and
                other
                third party consents, permits, approvals and authorizations necessary
                to
                consummate the transactions contemplated by this
                Agreement.

            

    

    

    ARTICLE
      VIII

    INDEMNIFICATION

    

    8.1 Indemnity
      by Company.
      The
      Company agrees as to defend, indemnify and hold harmless EXVG and EVUSA from
      and
      against, and to reimburse EXVG and EVUSA with respect to, all liabilities,
      losses, costs and expenses, including, without limitation, reasonable attorneys’
fees and disbursements (collectively the “Losses”)
      asserted against or incurred by EXVG or EVUSA by reason of, arising out of,
      or
      in connection with any material breach of any representation or warranty
      contained in this Agreement made by the Company or in any document or
      certificate delivered by the Company pursuant to the provisions of this
      Agreement or in connection with the transactions contemplated thereby.

    

    8.2 Indemnity
      by EXVG.
      EXVG
      agrees to defend, indemnify and hold harmless the Company from and against,
      and
      to reimburse the Company with respect to, all Losses, including, without
      limitation, reasonable attorneys’ fees and disbursements asserted against or
      incurred by the Company by reason of, arising out of, or in connection with
      any
      material breach of any representation or warranty contained in this Agreement
      and made by EXVG or in any document or certificate delivered by EXVG pursuant
      to
      the provisions of this Agreement or in connection with the transactions
      contemplated thereby.

    

    8.4 Indemnification
      Procedure.
      A party
      (an “Indemnified
      Party”)
      seeking indemnification shall give prompt notice to the other party (the
“Indemnifying
      Party”)
      of any
      claim for indemnification arising under this Article 8. The Indemnifying Party
      shall have the right to assume and to control the defense of any such claim
      with
      counsel reasonably acceptable to such Indemnified Party, at the Indemnifying
      Party’s own cost and expense, including the cost and expense of reasonable
      attorneys’ fees and disbursements in connection with such defense, in which
      event the Indemnifying Party shall not be obligated to pay the fees and
      disbursements of separate counsel for such in such action. In the event,
      however, that such Indemnified Party’s legal counsel shall determine that
      defenses may be available to such Indemnified Party that are different from
      or
      in addition to those available to the Indemnifying Party, in that there could
      reasonably be expected to be a conflict of interest if such Indemnifying Party
      and the Indemnified Party have common counsel in any such proceeding, or if
      the
      Indemnified Party has not assumed the defense of the action or proceedings,
      then
      such Indemnifying Party may employ separate counsel to represent or defend
      such
      Indemnified Party, and the Indemnifying Party shall pay the reasonable fees
      and
      disbursements of counsel for such Indemnified Party. No settlement of any such
      claim or payment in connection with any such settlement shall be made without
      the prior consent of the Indemnifying Party which consent shall not be
      unreasonably withheld. 

    

    ARTICLE
      IX

    TERMINATION

    

    9.1 Termination.
      This
      Agreement may be terminated at any time before or at Closing Date
      by:

    

    
      	
            	(i)	
              The
                mutual agreement of the Parties;

            

    

     

    
      
         

      

      
        11

        
          

        

      

      
         

      

    

     

    
      	
            	(ii)	
              Any
                party at any time before or at the Closing Date
                if:

            

    

    

    
      	 	
              (a)

            	
              Any
                provision of this Agreement applicable to a party shall be materially
                untrue or fail to be accomplished;
                or

            

    

    

    
      	 	
              (b)

            	
              Any
                legal proceeding shall have been instituted or shall be imminently
                threatening to delay, restrain or prevent the consummation of this
                Agreement; 

            

    

    

    
      	 	
              (iii)

            	
              The
                voluntary or involuntary filing of any of the Parties for protection
                under
                the bankruptcy laws and regulations.

            

    

    

    
      	 	
              (iv)

            	
              Upon
                termination of this Agreement for any reason, in accordance with
                the terms
                and conditions set forth in this paragraph, each said party shall
                bear all
                costs and expenses as each party has incurred.

            

    

    

    ARTICLE
      X

    MISCELLANEOUS

    

    10.1 Survival
      of Representations, Warranties and Agreements.
      All
      representations and warranties and statements made by a party to in this
      Agreement or in any document or certificate delivered pursuant hereto shall
      survive the Closing Date for two years. Each of the parties hereto is executing
      and carrying out the provisions of this agreement in reliance upon the
      representations, warranties and covenants and agreements contained in this
      agreement or at the closing of the transactions herein provided for and not
      upon
      any investigation which it might have made or any representations, warranty,
      agreement, promise or information, written or oral, made by the other party
      or
      any other person other than as specifically set forth herein.

    

    10.2 Access
      to Books and Records.
      During
      the course of this transaction through the Closing Date, each party agrees
      to
      make available for inspection all corporate books, records and assets, and
      otherwise afford to each other and their respective representatives, reasonable
      access to all documentation and other information concerning the business,
      financial and legal conditions of each other for the purpose of conducting
      a due
      diligence investigation thereof. Such due diligence investigation shall be
      for
      the purpose of satisfying each party as to the business, financial and legal
      condition of each other for the purpose of determining the desirability of
      consummating the proposed transaction. The Parties further agree to keep
      confidential and not use for their own benefit, except in accordance with this
      Agreement any information or documentation obtained in connection with any
      such
      investigation.

    

    10.3 Further
      Assurances.
      If, at
      any time after the Closing Date, the parties shall consider or be advised that
      any further deeds, assignments or assurances in law or that any other things
      are
      necessary, desirable or proper to complete the merger in accordance with the
      terms of this agreement or to vest, perfect or confirm, of record or otherwise,
      the title to any property or rights of the parties hereto, the Parties agree
      that their proper officers and directors shall execute and deliver all such
      proper deeds, assignments and assurances in law and do all things necessary,
      desirable or proper to vest, perfect or confirm title to such property or rights
      and otherwise to carry out the purpose of this Agreement, and that the proper
      officers and directors the parties are fully authorized to take any and all
      such
      action.

    

    10.4 Notice.
      All
      communications, notices, requests, consents or demands given or required under
      this Agreement shall be in writing and shall be deemed to have been duly given
      when delivered to, or received by prepaid registered or certified mail or
      recognized overnight courier addressed to, or upon receipt of a facsimile sent
      to, the party for whom intended, as follows, or to such other address or
      facsimile number as may be furnished by such party by notice in the manner
      provided herein:

     

    
      
         

      

      
        12

        
          

        

      

      
         

      

    

     

    
      	
              Attention:

            
	
               

            
	
              If
                to any of the EXVG and EVUSA:

            
	
               

            
	
              The
                Sourlis Law Firm

              Attention:
                Virginia K. Sourlis, Esq.

              The
                Galleria

              2
                Bridge Avenue

              Red
                Bank, New Jersey 07701

              Phone
                No.: (732) 530-9007

              Fax
                No.: (732) 530-9008

              Email:
                Virginia@SourlisLaw.com

            
	
               

            
	
              If
                to the Company:

            
	
               

            
	
              MAXIMUS
                EXPLORATION CORPORATION

              #8-26
                Zivova Street

              Ternopil,
                Ukraine 282001

              Attention:
                Andriy Volianuk

              Phone
                No.: 011380352520416

               

              With
                a copy to:

              Dean
                Law Corp.

              Attn:
                Faiyaz
                Dean,
                Esq.

              601
                Union Street, Suite 4200

              Seattle,
                Washington 98101

              Phone
                No.: (206) 274-4598

              Fax
                No.: (206) 493-2777

              Email:
                fdean@deanlawcorp.com

            

    

    

    10.5 Entire
      Agreement.
      This
      Agreement and any instruments and agreements to be executed pursuant to this
      Agreement, sets forth the entire understanding of the parties hereto with
      respect to its subject matter, merges and supersedes all prior and
      contemporaneous understandings with respect to its subject matter and may not
      be
      waived or modified, in whole or in part, except by a writing signed by each
      of
      the parties hereto. No waiver of any provision of this Agreement in any instance
      shall be deemed to be a waiver of the same or any other provision in any other
      instance. Failure of any party to enforce any provision of this Agreement shall
      not be construed as a waiver of its rights under such provision.

    

    10.6 Successors
      and Assigns.
      This
      Agreement shall be binding upon, enforceable against and inure to the benefit
      of, the Parties hereto and their respective, successors and assigns, and nothing
      herein is intended to confer any right, remedy or benefit upon any other person.
      This Agreement may not be assigned by any party hereto except with the prior
      written consent of the other parties, which consent shall not be unreasonably
      withheld.

    

    10.7 Governing
      Law.
      This
      Agreement shall in all respects be governed by and construed in accordance
      with
      the laws of the State of Nevada applicable to agreements made and fully to
      be
      performed in such state, without giving effect to conflicts of law
      principles.

    

    10.8 Counterparts.
      This
      Agreement may be executed in multiple counterparts, each of which shall be
      deemed an original, but all of which together shall constitute one and the
      same
      instrument.

    

    10.9 Construction.
      Headings contained in this Agreement are for convenience only and shall not
      be
      used in the interpretation of this Agreement. References herein to Articles,
      Sections and Exhibits are to the articles, sections and exhibits, respectively,
      of this Agreement. As used herein, the singular includes the plural, and the
      masculine, feminine and neuter gender each includes the others where the context
      so indicates.

    

    
      
         

      

      
        13

        
          

        

      

      
         

      

    

    10.10 Severability.
      If any
      provision of this Agreement is held to be invalid or unenforceable by a court
      of
      competent jurisdiction, this Agreement shall be interpreted and enforceable
      as
      if such provision were severed or limited, but only to the extent necessary
      to
      render such provision and this Agreement enforceable.

    

    10.11 Expenses.
      Each
      Party shall separately pay for their respective costs of legal services,
      accounting, auditing, communications and due diligence in connection with the
      transactions contemplated hereby except that EXVG will pay for all costs
      involved with the corporate structure and regulatory approval and compliances.
      

    

    10.12 Announcements.
      Except
      as and to the extent required by law or regulatory authority or so advised
      by
      its legal advisors, neither the Company nor EXVG shall make a public
      announcement regarding the transactions contemplated hereby without the prior
      written consent of the other. In the event that either party is required by
      law
      or by federal securities law or so advised by its legal advisors to either
      (i)
      file any document with the SEC that discloses the transactions contemplated
      hereby, or (ii) to make a public announcement regarding the transactions
      contemplated hereby, the party making the disclosures, etc. shall provide the
      other party with a copy of the disclosure and the reason that such disclosure
      is
      required and the time and place that the disclosure was made or shall be
      made.

    

    [THIS
      PAGE INTENTIONALLY LEFT BLANK]

    

    [SIGNATURE
      PAGE FOLLOWS]

    

    
      
         

      

      
        14

        
          

        

      

      
         

      

    

    

    IN
      WITNESS WHEREOF,
      each of
      the parties hereto has executed this Agreement first set forth
      above.

    

    
      	 	
              Extraordinary
                Vacation Group, Inc.

               

               

              By:
                __________________________________

              Name:

              President

               

               

               

            
	 	
               

            
	 	
              Extraordinary
                Vacations USA, Inc.

               

               

               

              By:
                __________________________________

              Name:

              President

            
	 	 
	 	
              MAXIMUS
                EXPLORATION CORPORATION

               

               

               

              By:
                __________________________________

              Andriy
                Volianuk

              CEO,
                CFO

            
	 	 

    

    

    

    CONSENT
      AND UNDERTAKING

    

    The
      undersigned who EXVG has identified as those who are to constitute all of the
      directors to be appointed to the Board of Directors of MAXIMUS EXPLORATION
      CORPORATION pursuant to the above Share Transaction Purchase Agreement hereby
      each agree to and shall take such action as is necessary to comply or cause
      MAXIMUS to comply with intent of the such agreement.

    

    

    
      	 	 
	
              _______________________________

            	
              __________________________________

            
	
              James
                Whyte

            	
              William
                Kerby

            
	 	 
	 	 
	 	 
	
              _______________________________

            	
              __________________________________

            
	
              Brad
                Heureux

            	
              Anthony
                Byron

            
	 	 

    

    

    

    
      
         

      

      
        15EX4-1

Exhibit 4.1

__________

 

 

 

 

 

 

 

2008 FIXED SHARE OPTION PLAN

 

 

 

 

 

 

 

For:

 

 

NATURALLY ADVANCED TECHNOLOGIES INC.

 

 

 

Naturally Advanced Technologies Inc.

Suite 402 - 1008 Homer Street, Vancouver, British Columbia, Canada, V6B 2X1

__________

 

NATURALLY ADVANCED TECHNOLOGIES INC.

(the "Company")

 

2008 FIXED SHARE OPTION PLAN

Dated for reference effective on September 24, 2008

ARTICLE 1

PURPOSE AND INTERPRETATION

Purpose and Entire Plan

1.1                   The purpose of this Plan is to advance the interests of the Company by encouraging equity participation in the Company through the acquisition of Common Shares of the Company.  It is the intention of the Company that this Plan will at all times be in compliance with the TSX Venture Policies (or, if applicable, the NEX Policies) and any inconsistencies between this Plan and the TSX Venture Policies) (or, if applicable, the NEX Policies) will be resolved in favour of the latter.

1.2                   This Plan supersedes and replaces each of the Company's previously ratified stock option plans and including, without limitation, the Company's most recent and existing "2006 Stock Option Plan", dated as ratified by the Board of the Company on September 4, 2006, except that any "Options" theretofore granted by the Company under its 2006 Stock Option Plan are necessarily brought forward by the Company under this Plan without restriction by the terms and conditions of this Plan going forward.

Definitions

1.3                   In this Plan:
(a)         "Affiliate" means a company that is a parent or subsidiary of the Company, or that is controlled by the same entity as the Company;

(b)         "Associate" has the meaning set out in the Securities Act;

(c)         "Black-out Period" means an interval of time during which the Company has determined that one or more Participants may not trade any securities of the Company because they may be in possession of undisclosed material information pertaining to the Company, or when in anticipation of the release of quarterly or annual financials, to avoid potential conflicts associated with a company's insider-trading policy or applicable securities legislation, (which, for greater certainty, does not include the period during which a cease trade order is in effect to which the Company or in respect of an Insider, that Insider, is subject);

(d)         "Board" means the board of directors of the Company or any committee thereof duly empowered or authorized to grant Options under this Plan;

(e)         "Change of Control" includes situations where after giving effect to the contemplated transaction and as a result of such transaction: 

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(i)        any one Person holds a sufficient number of voting shares of the Company or resulting company to affect materially the control of the Company or resulting company, or,

(ii)       any combination of Persons, acting in concert by virtue of an agreement, arrangement, commitment or understanding, holds in total a sufficient number of voting shares of the Company or its successor to affect materially the control of the Company or its successor, 

where such Person or combination of Persons did not previously hold a sufficient number of voting shares to affect materially control of the Company or its successor. In the absence of evidence to the contrary, any Person or combination of Persons acting in concert by virtue of an agreement, arrangement, commitment or understanding, holding more than 20% of the voting shares of the Company or resulting company is deemed to materially affect control of the Company or resulting company;

(f)         "Common Shares" means common shares without par value in the capital of the Company providing such class is listed on the TSX Venture (or the NEX, as the case may be);

(g)         "Company" means the company named at the top hereof and includes, unless the context otherwise requires, all of its Affiliates and successors according to law;

(h)         "Consultant" means an individual or Consultant Company, other than an Employee, Officer or Director that: 
(i)        provides on an ongoing bona fide basis, consulting, technical, managerial or like services to the Company or an Affiliate of the Company, other than services provided in relation to a Distribution;

(ii)       provides the services under a written contract between the Company or an Affiliate and the individual or the Consultant Company;

(iii)      in the reasonable opinion of the Company, spends or will spend a significant amount of time and attention on the business and affairs of the Company or an Affiliate of the Company; and

(iv)       has a relationship with the Company or an Affiliate of the Company that enables the individual or Consultant Company to be knowledgeable about the business and affairs of the Company;

(i)         "Consultant Company" means for an individual consultant, a company or partnership of which the individual is an employee, shareholder or partner;

(j)         "Directors" means the directors of the Company as may be elected from time to time;

(k)         "Discounted Market Price" has the meaning assigned by Policy 1.1 of the TSX Venture Policies;

(l)         "Disinterested Shareholder Approval" means approval by a majority of the votes cast by all the Company's shareholders at a duly constituted shareholders' meeting, excluding votes attached to Common Shares beneficially owned by Insiders who are Service Providers or their Associates;

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(m)         "Distribution" has the meaning assigned by the Securities Act, and generally refers to a distribution of securities by the Company from treasury;

(n)         "Effective Date" for an Option means the date of grant thereof by the Board;

(o)         "Employee" means: 
(i)        an individual who is considered an employee under the Income Tax Act (i.e. for whom income tax, employment insurance and CPP deductions must be made at source);

(ii)       an individual who works full-time for the Company or a subsidiary thereof providing services normally provided by an employee and who is subject to the same control and direction by the Company over the details and methods of work as an employee of the Company, but for whom income tax deductions are not made at source; or

(iii)      an individual who works for the Company or its subsidiary on a continuing and regular basis for a minimum amount of time per week providing services normally provided by an employee and who is subject to the same control and direction by the Company over the details and methods of work as an employee of the Company, but for whom income tax deductions need not be made at source;

(p)         "Exercise Price" means the amount payable per Common Share on the exercise of an Option, as determined in accordance with the terms hereof; 

(q)         "Expiry Date" means the day on which an Option lapses as specified in the Option Commitment therefore or in accordance with the terms of this Plan;

(r)         "Insider" means an insider as defined in the TSX Venture Policies or as defined in securities legislation applicable to the Company;

(s)         "Investor Relations Activities" has the meaning assigned by Policy 1.1 of the TSX Venture Policies;

(t)         "Management Company Employee" means an individual employed by a Person providing management services to the Company which are required for the ongoing successful operation of the business enterprise of the Company, but excluding a Person engaged in Investor Relations Activities;

(u)         "NEX" means a separate board of the TSX Venture for companies previously listed on the TSX Venture or the Toronto Stock Exchange which have failed to maintain compliance with the ongoing financial listing standards of those markets;

(v)         "NEX Issuer" means a company listed on the NEX;

(w)         "NEX Policies" means the rules and policies of the NEX as amended from time to time;

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(x)         "Officer" means a Board appointed officer of the Company;

(y)         "Option" means the right to purchase Common Shares granted hereunder to a Service Provider;

(z)         "Option Commitment" means the notice of grant of an Option delivered by the Company hereunder to a Service Provider and substantially in the form of Schedule A attached hereto;

(aa)       "Optioned Shares" means Common Shares that may be issued in the future to a Service Provider upon the exercise of an Option;

(bb)       "Optionee" means the recipient of an Option hereunder;

(cc)       "Outstanding Shares" means at the relevant time, the number of issued and outstanding Common Shares of the Company from time to time;

(dd)       "Participant" means a Service Provider that becomes an Optionee;

(ee)       "Person includes a company, any unincorporated entity, or an individual;

(ff)       "Plan" means this "2008 Fixed Share Option Plan", the terms of which are set out herein or as may be amended;

(gg)       "Plan Shares" means the total number of Common Shares which may be reserved for issuance as Optioned Shares under the Plan as provided in §2.2;

(hh)       "Regulatory Approval" means the approval of the TSX Venture and any other securities regulatory authority that has lawful jurisdiction over the Plan and any Options issued hereunder;

(ii)       "Securities Act" means the Securities Act, R.S.B.C. 1996, c. 418, or any successor legislation;

(jj)       "Service Provider" means a Person who is a bona fide Director, Officer, Employee, Management Company Employee, Consultant or Company Consultant, and also includes a company, 100% of the share capital of which is beneficially owned by one or more Service Providers;

(kk)       "Share Compensation Arrangement" means any Option under this Plan but also includes any other stock option, stock option plan, employee stock purchase plan or any other compensation or incentive mechanism involving the issuance or potential issuance of Common Shares to a Service Provider;

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(ll)       "Shareholder Approval" means approval by a majority of the votes cast by eligible shareholders of the Company at a duly constituted shareholders' meeting;

(mm)   "Take Over Bid" means a take over bid as defined in subsection 92(1) of the Securities Act or the analogous provisions of securities legislation applicable to the Company;

(kk)       "Termination Date" has the meaning ascribed thereto in §3.10;

(nn)       "TSX Venture" means the TSX Venture Exchange and any successor thereto; and

(oo)       "TSX Venture Policies" means the rules and policies of the TSX Venture as amended from time to time.

Other Words and Phrases

1.4                   Words and phrases used in this Plan but which are not defined in the Plan, but are defined in the TSX Venture Policies (and, if applicable, the NEX Policies), will have the meaning assigned to them in the TSX Venture Policies (and, if applicable, the NEX Policies).

Gender

1.5                   Words importing the masculine gender include the feminine or neuter, words in the singular include the plural, words importing a corporate entity include individuals, and vice versa.

ARTICLE 2

SHARE OPTION PLAN

Establishment of the Share Option Plan

2.1                   The Plan is hereby established to recognize contributions made by Service Providers and to create an incentive for their continuing assistance to the Company and its Affiliates. 

Maximum Plan Shares

2.2                   The maximum aggregate number of Plan Shares that may be reserved for issuance under the Plan at any point in time is 6,058,766 Shares (which represents 20% of the Company's issued and outstanding Common Shares on the effective date of this Plan), less any Common Shares reserved for issuance under share options granted under Share Compensation Arrangements other than this Plan, unless this Plan is amended pursuant to the requirements of the TSX Venture Policies and, if applicable, the NEX Policies.

Eligibility

2.3                   Options to purchase Common Shares may be granted hereunder to Service Providers from time to time by the Board. Service Providers that are not individuals will be required to undertake in writing not to effect or permit any transfer of ownership or option of any of its securities, or to issue more of its securities (so as to indirectly transfer the benefits of an Option), as long as such Option remains outstanding, unless the written permission of the TSX Venture and the Company is obtained.

Options Granted Under the Plan

2.4                   All Options granted under the Plan will be evidenced by an Option Commitment in the form attached as Schedule A, showing the number of Optioned Shares, the term of the Option, a reference to vesting terms, if any, and the Exercise Price.

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2.5                   Subject to specific variations approved by the Board, all terms and conditions set out herein will be deemed to be incorporated into and form part of an Option Commitment made hereunder.

Limitations on Issue

2.6                   Subject to §2.10, the following restrictions on issuances of Options are applicable under the Plan:
(a)         no Service Provider can be granted an Option if that Option would result in the total number of Options, together with all other Share Compensation Arrangements granted to such Service Provider in the previous 12 months, exceeding 5% of the Outstanding Shares (unless the Company is classified as a Tier 1 Issuer by the TSX Venture and has obtained Disinterested Shareholder Approval to do so);

(b)         no Options can be granted under the Plan if the Company is on notice from the TSX Venture to transfer its listed shares to the NEX;

(c)         the aggregate number of Options granted to Service Providers conducting Investor Relations Activities in any 12-month period cannot exceed 2% of the Outstanding Shares, calculated at the time of grant, without the prior consent of the TSX Venture; and

(d)         the aggregate number of Options granted to any one Consultant in any 12-month period cannot exceed 2% of the Outstanding Shares, calculated at the time of grant, without the prior consent of the TSX Venture.

Options Not Exercised

2.7                   In the event an Option granted under the Plan expires unexercised or is terminated by reason of dismissal of the Optionee for cause or is otherwise lawfully cancelled prior to exercise of the Option, the Optioned Shares that were issuable thereunder will be returned to the Plan and will be eligible for re-issuance.

Powers of the Board

2.8                   The Board will be responsible for the general administration of the Plan and the proper execution of its provisions, the interpretation of the Plan and the determination of all questions arising hereunder. Without limiting the generality of the foregoing, the Board has the power to
(a)         allot Common Shares for issuance in connection with the exercise of Options;

(b)         grant Options hereunder;

(c)         subject to any necessary Regulatory Approval, amend, suspend, terminate or discontinue the Plan, or revoke or alter any action taken in connection therewith, except that no general amendment or suspension of the Plan will, without the prior written consent of all Optionees, alter or impair any Option previously granted under the Plan unless the alteration or impairment occurred as a result of a change in the TSX Venture Policies or the Company's tier classification thereunder; and

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(d)         delegate all or such portion of its powers hereunder as it may determine to one or more committees of the Board, either indefinitely or for such period of time as it may specify, and thereafter each such committee may exercise the powers and discharge the duties of the Board in respect of the Plan so delegated to the same extent as the Board is hereby authorized so to do.

Amendment of the Plan by the Board of Directors

2.9                   Subject to the requirements of the TSX Venture Policies and the prior receipt of any necessary Regulatory Approval, the Board may in its absolute discretion, amend or modify the Plan or any Option granted as follows:
(a)         it may make amendments which are of a typographical, grammatical or clerical nature only;

(b)         it may change the vesting provisions of an Option granted hereunder;

(c)         it may change the termination provision of an Option granted hereunder which does not entail an extension beyond the original Expiry Date of such Option;

(d)         it may add a cashless exercise feature payable including cash or Common Shares which provides for a full deduction of the number of underlying Common Shares from the Share reserved hereunder;

(e)         it may make amendments necessary as a result in changes in securities laws applicable to the Company;

(f)         if the Company becomes listed or quoted on a stock exchange or stock market senior to the TSX Venture, it may make such amendments as may be required by the policies of such senior stock exchange or stock market; and

(g)         amend this Plan (except for previously granted and outstanding Options) to reduce the benefits that may be granted to Service Providers (before a particular Option is granted) subject to the other terms hereof.

Terms or Amendments Requiring Disinterested Shareholder Approval

2.10                 The Company shall obtain Disinterested Shareholder Approval prior to any of the following actions becoming effective:
(a)         the Plan, together with all of the Company's other Share Compensation Arrangements, could result at any time in:
(i)         the aggregate number of Common Shares reserved for issuance under Options granted to Insiders exceeding 10% of the Outstanding Shares (in the event that this Plan is amended to reserve for issuance more than 10% of the Outstanding Shares); 

(ii)        the number of Optioned Shares issued to Insiders within a one-year period exceeding 10% of the Outstanding Shares (in the event that this Plan is amended to reserve for issuance more than 10% of the Outstanding Shares); or, 

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(iii)       in the case of a Tier l Issuer only, the issuance to any one Optionee, within a 12-month period, of a number of Common Shares exceeding 5% of Outstanding Shares; or

(b)         any reduction in the Exercise Price of an Option previously granted to an Insider.

Options Granted Under the Company's Previous Share Option Plans

2.11                 Any option granted pursuant to a stock option plan previously adopted by the Board which is outstanding at the time this Plan comes into effect shall be deemed to have been issued under this Plan and shall, as of the date this Plan comes into effect, be governed by the terms hereof.

ARTICLE 3

TERMS AND CONDITIONS OF OPTIONS

Exercise Price

3.1                   The Exercise Price of an Option will be set by the Board on the Effective Date of the Option and cannot be less than the Discounted Market Price.

Term of Option

3.2                   An Option can be exercisable for a maximum of 10 years from the Effective Date for a Tier 1 Issuer, or five years from the Effective Date for a Tier 2 or a NEX Issuer.

Option Amendment

3.3                   Subject to §2.10(b), the Exercise Price of an Option may be amended only if at least six (6) months have elapsed since the later of the Effective Date, the date the Common Shares commenced trading on the TSX Venture, and the date of the last amendment of the Exercise Price.

3.4                   An Option must be outstanding for at least one year before the Company may extend its term, subject to the limits contained in §3.2.

3.5                   Any proposed amendment to the terms of an Option must be approved by the TSX Venture prior to the exercise of such Option.

Vesting of Options

3.6                   Subject to §3.7, vesting of Options shall be in accordance with Schedule B attached hereto or otherwise, at the discretion of the Board, and will generally be subject to:
(a)         the Service Provider remaining employed by or continuing to provide services to the Company or any of its Affiliates as well as, at the discretion of the Board, achieving certain milestones which may be defined by the Board from time to time or receiving a satisfactory performance review by the Company or any of its Affiliates during the vesting period; or

(b)         the Service Provider remaining as a Director of the Company or any of its Affiliates during the vesting period.

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Vesting of Options Granted to Consultants Conducting Investor Relations Activities

3.7                   Notwithstanding §3.6, Options granted to Consultants conducting Investor Relations Activities will vest:
(a)         over a period of not less than 12 months as to 25% on the date that is three months from the date of grant, and a further 25% on each successive date that is three months from the date of the previous vesting; or

(b)         such longer vesting period as the Board may determine.

Effect of Take Over Bid

3.8                   If a Take Over Bid is made to the shareholders generally then the Company shall, immediately upon receipt of notice of the Take Over Bid, notify each Optionee currently holding an Option of the Take Over Bid, with full particulars thereof whereupon such Option may, subject to receipt of Regulatory Approval and notwithstanding §3.6 and §3.7 or any vesting requirements set out in any Option Commitment, be immediately exercised in whole or in part by the Optionee.

Extension of Options Expiring During Blackout Period

3.9                   Should the Expiry Date for an Option fall within a Blackout Period, or within nine (9) Business Days following the expiration of a Blackout Period, such Expiry Date shall be automatically extended without any further act or formality to that day which is the tenth (10th) Business Day after the end of the Blackout Period, such tenth Business Day to be considered the Expiry Date for such Option for all purposes under the Plan.  Notwithstanding §2.8, the tenth Business Day period referred to in this §3.9 may not be extended by the Board.

Optionee Ceasing to be Director, Employee or Service Provider

3.10                 No Option may be exercised after the earlier of the date the Service Provider has left his employ/office and the date that the Service Provider has been advised by the Company that his services are no longer required or his service contract has expired (the "Termination Date"), except as follows:
(a)         in the case of the death of an Optionee, any vested Option held by him at the date of death will become exercisable by the Optionee's lawful personal representatives, heirs or executors until the earlier of one year after the date of death of such Optionee and the date of expiration of the term otherwise applicable to such Option;

(b)         in the case of a Tier 1 Issuer, an Option granted to any Service Provider will expire 90 days after the Termination Date, but only to the extent that such Option has vested as at the Termination Date;

(c)         in the case of a Tier 2 or NEX Issuer, Options granted to a Service Provider conducting Investor Relations Activities will expire 30 days after the Terminate Date, but only to the extent that such Option has vested as at the Termination Date;

(d)         in the case of a Tier 2 or NEX Issuer, any Option granted to an Optionee other than one conducting Investor Relations Activities will expire 30 days after the Termination Date, but only to the extent that such Option has vested as at the Termination Date; and

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(e)         in the case of an Optionee being dismissed from employment or service for cause, such Optionee's Options, whether or not vested at the date of dismissal will immediately terminate without right to exercise same.

Non Assignable

3.11                 Subject to §3.10, all Options will be exercisable only by the Optionee to whom they are granted and will not be assignable or transferable.

Adjustment of the Number of Optioned Shares

3.12                 The number of Common Shares subject to an Option will be subject to adjustment in the events and in the manner following:
(a)         in the event of a subdivision of Common Shares as constituted on the date hereof, at any time while an Option is in effect, into a greater number of Common Shares, the Company will thereafter deliver at the time of purchase of Optioned Shares hereunder, in addition to the number of Optioned Shares in respect of which the right to purchase is then being exercised, such additional number of Common Shares as result from the subdivision without an Optionee making any additional payment or giving any other consideration therefore;

(b)         in the event of a consolidation of the Common Shares as constituted on the date hereof, at any time while an Option is in effect, into a lesser number of Common Shares, the Company will thereafter deliver and an Optionee will accept, at the time of purchase of Optioned Shares hereunder, in lieu of the number of Optioned Shares in respect of which the right to purchase is then being exercised, the lesser number of Common Shares as result from the consolidation;

(c)         in the event of any change of the Common Shares as constituted on the date hereof, at any time while an Option is in effect, the Company will thereafter deliver at the time of purchase of Optioned Shares hereunder the number of shares of the appropriate class resulting from the said change as an Optionee would have been entitled to receive in respect of the number of Common Shares so purchased had the right to purchase been exercised before such change;

(d)         in the event of a capital reorganization, reclassification or change of outstanding equity shares (other than a change in the par value thereof) of the Company, a consolidation, merger or amalgamation of the Company with or into any other company or a sale of the property of the Company as or substantially as an entirety at any time while an Option is in effect, an Optionee will thereafter have the right to purchase and receive, in lieu of the Optioned Shares immediately theretofore purchasable and receivable upon the exercise of the Option, the kind and amount of shares and other securities and property receivable upon such capital reorganization, reclassification, change, consolidation, merger, amalgamation or sale which the holder of a number of Common Shares equal to the number of Optioned Shares immediately theretofore purchasable and receivable upon the exercise of the Option would have received as a result thereof. The subdivision or consolidation of Common Shares at any time outstanding (whether with or without par value) will not be deemed to be a capital reorganization or a reclassification of the capital of the Company for the purposes of this §3.12;

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(e)         an adjustment will take effect at the time of the event giving rise to the adjustment, and the adjustments provided for in this section are cumulative;

(f)         the Company will not be required to issue fractional shares in satisfaction of its obligations hereunder. Any fractional interest in a Common Share that would, except for the provisions of this §3.12, be deliverable upon the exercise of an Option will be cancelled and not be deliverable by the Company; and

(g)         if any questions arise at any time with respect to the Exercise Price or number of Optioned Shares deliverable upon exercise of an Option in any of the events set out in this §3.12, such questions will be conclusively determined by the Company's auditors, or, if they decline to so act, any other firm of Chartered Accountants, in Vancouver, British Columbia (or in the city of the Company's principal executive office) that the Company may designate and who will be granted access to all appropriate records. Such determination will be binding upon the Company and all Optionees.

ARTICLE 4

COMMITMENT AND EXERCISE PROCEDURES

Option Commitment

4.1                   Upon grant of an Option hereunder, an authorized officer of the Company will deliver to the Optionee an Option Commitment detailing the terms of such Options and upon such delivery the Optionee will be subject to the Plan and have the right to purchase the Optioned Shares at the Exercise Price set out therein subject to the terms and conditions hereof.

Manner of Exercise

4.2                   An Optionee who wishes to exercise his Option may do so by delivering
(a)         a written notice to the Company specifying the number of Optioned Shares being acquired pursuant to the Option; and

(b)         a certified cheque, wire transfer or bank draft payable to the Company for the aggregate Exercise Price by the Optioned Shares being acquired.

Delivery of Certificate and Hold Periods

4.3                   As soon as practicable after receipt of the notice of exercise described in §4.2 and payment in full for the Optioned Shares being acquired, the Company will direct its transfer agent to issue a certificate to the Optionee for the appropriate number of Optioned Shares. Such certificate issued will bear a legend stipulating any resale restrictions required under applicable securities laws.  Further, if the Company is a Tier 2 or NEX Issuer, or the Exercise Price is set below than the then current market price of the Common Shares on the TSX Venture, the certificate will also bear a legend stipulating that the Optioned Shares are subject to a four-month TSX Venture hold period commencing the date of the grant of the Option.

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ARTICLE 5

GENERAL

Employment and Services

5.1                   Nothing contained in the Plan will confer upon or imply in favour of any Optionee any right with respect to office, employment or provision of services with the Company, or interfere in any way with the right of the Company to lawfully terminate the Optionee's office, employment or service at any time pursuant to the arrangements pertaining to same. Participation in the Plan by an Optionee is voluntary.

No Representation or Warranty

5.2                   The Company makes no representation or warranty as to the future market value of Common Shares issued in accordance with the provisions of the Plan or to the effect of the Income Tax Act (Canada) or any other taxing statute governing the Options or the Common Shares issuable thereunder or the tax consequences to a Service Provider.  Compliance with applicable securities laws as to the disclosure and resale obligations of each Participant is the responsibility of each Participant and not the Company.

Interpretation

5.3                   The Plan will be governed and construed in accordance with the laws of the Province of British Columbia.

Effective Date of Plan

5.4                   The Plan will become effective from and after September 24, 2008.

__________

Schedule A

SHARE OPTION PLAN

OPTION COMMITMENT

                       Notice is hereby given that, effective this ________ day of ________________, ________ (the "Effective Date"), NATURALLY ADVANCED TECHNOLOGIES INC. (the "Company") has granted to ___________________________________________ (the "Optionee") an Option to acquire ______________ Common Shares (collectively, the "Optioned Shares") up to 5:00 p.m. Vancouver Time on the ________ day of ________________, ________ (the "Expiry Date") at an Exercise Price of Cdn. $____________ per Optioned Share.

                       At the date of grant of the Option the Company is classified as [a Tier ____ Issuer under TSX Venture Policies] [an NEX Issuer].

                       [Tier 2 if Plan Shares greater than 10% only]Optioned Shares will vest and may be exercised as follows: 

{COMPLETE ONE}

____________          In accordance with the vesting provisions set out in Schedule B of the Plan;

or

____________          As follows: [INSERT VESTING SCHEDULE  ]

                       The grant of the Option evidenced hereby is made subject to the terms and conditions of the Plan, which are hereby incorporated herein and forms part hereof.

                       To exercise your Option, deliver a written notice specifying the number of Optioned Shares you wish to acquire, together with a certified cheque, wire transfer or bank draft payable to the Company for the aggregate Exercise Price. A certificate for the Optioned Shares so acquired will be issued by the transfer agent as soon as practicable thereafter and will bear a minimum four month non-transferability legend from the date of this Option Commitment, the text of which is as follows. [A Tier 1 Issuer may grant stock options without a hold period, provided the exercise price of the options is set at or above the market price of the Company's shares rather than below.].
"WITHOUT PRIOR WRITTEN APPROVAL OF THE TSX VENTURE EXCHANGE AND COMPLIANCE WITH ALL APPLICABLE SECURITIES LEGISLATION, THE SECURITIES REPRESENTED BY THIS CERTIFICATE MAY NOT BE SOLD, TRANSFERRED, HYPOTHECATED OR OTHERWISE TRADED ON OR THROUGH THE FACILITIES OF THE TSX VENTURE EXCHANGE OR OTHERWISE IN CANADA OR TO OR FOR THE BENEFIT OF A CANADIAN RESIDENT UNTIL 12:00 A.M. (MIDNIGHT) ON [insert date 4 months from the date of grant].".

                       The Company and the Optionee represent that the Optionee under the terms and conditions of the Plan is a bona fide Service Provider (as defined in the Plan), entitled to receive Options under TSX Venture Policies.

- 2 -

                       The Optionee also acknowledges and consents to the collection and use of Personal Information (as defined in the Policies of the TSX Venture Exchange) by both the Company and the TSX Venture (or the NEX, as the case may be) as more particularly set out in the Acknowledgement - Personal Information in use by the TSX Venture (or the NEX, as the case may be) on the date of this Share Option Plan.

NATURALLY ADVANCED TECHNOLOGIES INC.

_____________________________________

                  Authorized Signatory

_____________________________________

     (u
SIGNATURE OF OPTIONEE)

__________

 

 

 

Schedule B

SHARE OPTION PLAN

VESTING SCHEDULE

1.                      Options granted pursuant to the Plan to Directors, Officers and all Employees and Consultants employed or retained by the Company for a period of more than six months at the time the Option is granted will vest as follows:
(a)       1/3 of the total number of Options granted will vest six months after the date of grant;

(b)       a further 1/3 of the total number of Options granted will vest one year after the date of grant; and 

(c)       the remaining 1/3 of the total number of Options granted will vest eighteen months after the date of grant.

2.                      Options granted pursuant to the Plan to an Employee or a Consultant who has been employed or retained by the Company for a period of less than six months at the time the Option is granted will vest as follows:
(a)       1/3 of the total number of Options granted will vest one year after the date of grant;

(b)       a further 1/3 of the total number of Options granted will vest eighteen months after the date of grant; and 

(c)       the remaining 1/3 of the total number of Options granted will vest two years after the date of grant.

3.                      Options granted to Consultants retained by the Company pursuant to a short term contract or for a specific project with a finite term, will be subject to such vesting provisions determined by the Board of Directors of the Company at the time the Option Commitment is made, subject to Regulatory Approval.

4.                      Options granted to Service Providers involved in Investor Relations Activities shall vest in accordance with §3.7 of the Plan.

__________

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