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firsthand_ex4b.htm

    Appendix
      C

    

    AGREEMENT
      AND PLAN OF REORGANIZATION

    

    This
      AGREEMENT AND PLAN OF REORGANIZATION (“Agreement”) is made as of this ___ day of
      February, 2008 by and between Firsthand Technology Value Fund (the “Acquiring
      Fund”) and Firsthand Global Technology Fund (the “Acquired Fund”), each of which
      is a series of Firsthand Funds, a Delaware statutory trust (the
“Trust”).

    

    WHEREAS,
      the Trust is an open-end management investment company registered with the
      Securities and Exchange Commission (the “SEC”) under the Investment Company Act
      of 1940, as amended (the “1940 Act”);

    

    WHEREAS,
      the parties desire that the Fund Assets and Liabilities (as defined below)
      of
      the Acquired Fund be conveyed to and acquired and assumed by the Acquiring
      Fund
      in exchange for shares of equal U.S. dollar value of the Acquiring Fund which
      shall thereafter promptly be distributed to the shareholders of the Acquired
      Fund in connection with its liquidation as described in this Agreement (such
      acquisition and assumption of the Acquired Fund’s Fund Assets and Liabilities by
      the Acquiring Fund shall be referred to as the  “GTF Reorganization”);
      and

    

    WHEREAS,
      the parties intend that the GTF Reorganization qualify as a “reorganization,”
within the meaning of Section 368(a) of the Internal Revenue Code of 1986,
      as amended (the “Code”), and that the Acquiring Fund and the Acquired Fund will
      each be a “party to a reorganization,” within the meaning of Section 368(b)
      of the Code, with respect to the GTF Reorganization.

    

    NOW,
      THEREFORE, in accordance with the terms and conditions described herein, the
      Acquired Fund and Acquiring Fund shall be consolidated as follows:

    

    
      	
              1.  

            	
              Conveyance
                of Fund
                Assets and Liabilities of the Acquired
                Fund.

            

    

    

    
      	
              (a)  

            	
              Except
                as provided below, at the Effective Time of the Reorganization (as
                defined
                in Section 8) all assets of every kind, and all interests, rights,
                privileges and powers of the Acquired Fund (the “Fund Assets”), subject to
                all liabilities of the Acquired Fund existing as of the Effective
                Time of
                the Reorganization (the “Liabilities”), shall be transferred by the
                Acquired Fund to the Acquiring Fund and shall be accepted and assumed
                by
                the Acquiring Fund, as more particularly set forth in this Agreement,
                such
                that at and after the Effective Time of the Reorganization:  (i)
                all Fund Assets of the Acquired Fund shall become the assets of the
                Acquiring Fund; and (ii) all Liabilities of the Acquired Fund shall
                attach
                to the Acquiring Fund, enforceable against the Acquiring Fund to
                the same
                extent as if originally incurred by the Acquiring
                Fund.

            

    

     

    
      
        
        

      

      
        1

        
          

        

      

      
        
        

      

    

     

    
      	
              (b)  

            	
              It
                is understood and agreed that the Fund Assets shall include all property
                and assets of any nature whatsoever, including, without limitation,
                all
                cash, cash equivalents, securities, claims (whether absolute or
                contingent, known or unknown, accrued or unaccrued) and receivables
                (including dividend and interest receivables) owned or exercisable
                by the
                Acquired Fund, and any deferred or prepaid expenses shown as an asset
                on
                the Acquired Fund’s books and that the Liabilities of the Acquired Fund
                shall include all liabilities, whether known or unknown, accrued
                or
                unaccrued, absolute or contingent, in all cases, existing at the
                Effective
                Time of the Reorganization.

            

    

    

    
      	
              (c)  

            	
              It
                is understood and agreed that the Acquired Fund may sell any of the
                securities or other assets it holds prior to the Effective Time of
                the
                Reorganization but will not, without the prior approval of the Acquiring
                Fund, acquire any additional securities other than securities that
                the
                Acquiring Fund is permitted to purchase in accordance with its stated
                investment objective and policies.  At least ten (10) business
                days prior to the Closing Date (as defined in Section 8), the Acquiring
                Fund will advise the Acquired Fund of any investments held by the
                Acquired
                Fund that the Acquiring Fund would not be permitted to hold, pursuant
                to
                its stated investment objective and policies or otherwise.  The
                Acquired Fund, if requested by the Acquiring Fund, will dispose of
                any
                such securities prior to the Closing Date to the extent practicable
                and
                consistent with applicable legal requirements.  In addition, if
                it is determined that the investment portfolios of the Acquired Fund
                and
                the Acquiring Fund, when aggregated, would contain investments exceeding
                certain percentage limitations applicable to the Acquiring Fund,
                then the
                Acquired Fund, if requested by the Acquiring Fund, will dispose of
                a
                sufficient amount of such investments as may be necessary to avoid
                violating such limitations as of the Effective Time of the
                Reorganization.  The Acquired Fund will endeavor to discharge
                all of its known liabilities and obligations prior to the Closing
                Date.

            

    

    

    
      	
              (d)  

            	
              The
                Fund Assets shall be transferred and conveyed to the Acquiring Fund
                on the
                following basis:

            

    

    

    
      	
              (1)  

            	
              In
                exchange for the transfer of the Fund Assets, the Acquiring Fund
                shall
                simultaneously issue to the Acquired Fund at the Effective Time of
                the
                Reorganization full and fractional shares of the Acquiring Fund having
                an
                aggregate net asset value equal to the net value of the Fund Assets
                minus
                Liabilities so conveyed and assumed, all determined in accordance
                with
                this Agreement.  In this regard, the number of full and
                fractional shares of the Acquiring Fund delivered to the Acquired
                Fund
                shall be determined by dividing the value of the Fund Assets minus
                Liabilities, computed in the manner and as of the time and date set
                forth
                in this Agreement, by the net asset value of one Acquiring Fund share
                of
                computed in the manner and as of the time and date set forth in this
                Agreement.

            

    

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

    
      	
              (2)  

            	
              The
                net asset value of shares to be delivered by the Acquiring Fund,
                and the
                net value of the Fund Assets minus Liabilities to be conveyed by
                the
                Acquired Fund and assumed by the Acquiring Fund, shall, in each case,
                be
                determined as of the Valuation Time as defined in Section
                3.  The net asset value of shares of the Acquiring Fund shall be
                computed in accordance with its then current valuation
                procedures.  In determining the value of the Fund Assets, each
                security to be included in the Fund Assets shall be priced in accordance
                with the Acquiring Fund’s then current valuation
                procedures.

            

    

    

    
      	
              2.  

            	
              Liquidation
                of the
                Acquired Fund.  At the Effective Time of the
                Reorganization, the Acquired Fund shall make a liquidating distribution
                to
                its shareholders as follows:  Shareholders of record of the
                Acquired Fund shall be credited with full and fractional shares of
                the
                shares that are issued by the Acquiring Fund in connection with the
                GTF
                Reorganization corresponding to the Acquired Fund shares that are
                held of
                record by the shareholder at the Effective Time of the
                Reorganization.  Each such shareholder also shall have the right
                to receive any unpaid dividends or other distributions which were
                declared
                before the Effective Time of the Reorganization with respect to the
                Acquired Fund shares that are held of record by the shareholder at
                the
                Effective Time of the Reorganization, and the Trust shall record
                on its
                books the ownership of the Acquiring Fund shares by such shareholders
                (the
                “Transferor Record Holders”).  All of the issued and outstanding
                shares of the Acquired Fund at the Effective Time of the Reorganization
                shall be redeemed and canceled on the books of the Trust at such
                time.  As soon as reasonably possible after the Effective Time
                of the Reorganization, the Trust shall wind up the affairs of the
                Acquired
                Fund and shall file any final regulatory reports, including but not
                limited to any Form N-SAR and Rule 24f-2 filings, with respect to the
                Acquired Fund, and also shall take all other steps as are necessary
                and
                proper to effect the termination or declassification of the Acquired
                Fund
                in accordance with all applicable laws.  Subject to the
                provisions of this Agreement at an appropriate time as determined
                by the
                officers of the Trust, upon the advice of counsel, the Acquired Fund
                will
                be dissolved and unwound under the laws of the State of
                Delaware.

            

    

    

    
      	
              3.  

            	
              Valuation
                Time.  The “Valuation Time” shall be the time as of which
                the net asset value of shares of the Acquired Fund and the Acquiring
                Fund
                are determined pursuant to their respective valuation procedures
                on the
                Closing Date or such earlier or later time as may be mutually agreed
                to in
                writing by the parties hereto.

            

    

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

     

    
      	
              4.  

            	
              Certain
                Representations, Warranties and Agreements of the Trust on behalf
                of the
                Acquired Fund.  The Trust, on behalf of itself and, where
                appropriate, on behalf of the Acquired Fund, represents and warrants
                as
                follows:

            

    

    

    
      	
              (a)  

            	
              The
                Acquired Fund is duly organized as a series of the Trust, which is
                a
                business trust duly formed, validly existing and in good standing
                under
                the laws of the State of Delaware.  The Trust is registered with
                the SEC as an open-end management investment company under the 1940
                Act,
                and such registration is in full force and
                effect.

            

    

    

    
      	
              (b)  

            	
              The
                Trust has the power to own all of the Acquired Fund’s properties and
                assets and to consummate the transactions contemplated herein, on
                behalf
                of the Acquired Fund and has or will have at the Effective Time of
                the
                Reorganization all necessary federal, state and local authorizations
                to
                carry on its business as now being conducted and to consummate the
                transactions contemplated by this
                Agreement.

            

    

    

    
      	
              (c)  

            	
              This
                Agreement has been duly authorized by the Board of Trustees of the
                Trust
                on behalf of the Acquired Fund, and has been executed and delivered
                by
                duly authorized officers of the Trust, and represents a valid and
                binding
                contract, enforceable in accordance with its terms, subject as to
                enforcement to bankruptcy, insolvency, reorganization, arrangement,
                moratorium, and other similar laws of general applicability relating
                to or
                affecting creditors’ rights and to general equity
                principles.  The execution and delivery of this Agreement does
                not, and, subject to the approval of shareholders referred to in
                Section
                7, the consummation of the transactions contemplated by this Agreement
                will not, violate the Amended and Restated Declaration of Trust or
                the
                By-Laws of the Trust, or any material agreement or arrangement to
                which
                the Trust is a party or by which it is
                bound.

            

    

    

    
      	
              (d)  

            	
              The
                Acquired Fund has elected to qualify and has qualified as a regulated
                investment company under Part I of Subchapter M of Subtitle A, Chapter
                1,
                of the Code, as of and since its formulation; and it qualifies and
                shall
                continue to qualify as a regulated investment company for its taxable
                year
                ending upon its liquidation.

            

    

    

    
      	
              (e)  

            	
              The
                Trust has valued, and will continue to value, the portfolio securities
                and
                other assets of the Acquired Fund in accordance with applicable legal
                requirements.

            

    

    

    
      	
              (f)  

            	
              The
                combined proxy statement/prospectus and form of proxy included within
                the
                Trust’s registration statement on Form N-14 (the “N-14 Registration
                Statement”) from its effective date with the SEC through the time of the
                shareholder meeting referred to in Section 7 and the Effective Time
                of the
                Reorganization, insofar as they relate to the Trust or the Acquired
                Fund
                (i) shall comply in all material respects with the provisions of the
                Securities Act of 1933, as amended (the “1933 Act”), the Securities
                Exchange Act of 1934, as amended (the “1934 Act”) and the 1940 Act, the
                rules and regulations thereunder, and applicable state securities
                laws,
                and (ii) shall not contain any untrue statement of a material fact
                or omit
                to state a material fact required to be stated therein or necessary
                to
                make the statements made therein not
                misleading.

            

    

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

     

    
      	
              (g)  

            	
              All
                of the issued and outstanding shares of the Acquired Fund have been
                validly issued and are fully paid and non-assessable, and were offered
                for
                sale and sold in conformity with the registration requirements of
                all
                applicable federal and state securities
                laws.

            

    

    

    
      	
              (h)  

            	
              The
                Trust shall operate the business of the Acquired Fund in the ordinary
                course between the date hereof and the Effective Time of the
                Reorganization, except that the Trust shall complete all measures
                in
                respect of the Acquired Fund prior to the Effective Time of the
                Reorganization to ensure that the GTF Reorganization qualifies as
                a
                “reorganization” within the meaning of Section 368(a) of the Code,
                regardless of whether such measures are in the ordinary
                course.  It is understood that such ordinary course of business
                will include the declaration and payment of customary dividends and
                distributions and any other dividends and distributions deemed advisable
                in anticipation of the GTF Reorganization.  Notwithstanding
                anything herein to the contrary, the Trust shall take all appropriate
                action necessary in order for the Trust to receive the opinion(s)
                provided
                for in Sections 9(f) and 10(d).

            

    

    

    
      	
              (i)  

            	
              At
                the Effective Time of the Reorganization, the Acquired Fund will
                have good
                and marketable title to the Fund Assets and full right, power and
                authority to assign, deliver and otherwise transfer such
                assets.

            

    

    

    
      	
            	
              (j)
                  

            	
              At
                the Effective Time of the Reorganization, all federal and other tax
                returns and reports of the Acquired Fund required by law to have
                been
                filed by such time shall have been filed, and all federal and other
                taxes
                shall have been paid so far as due, or provision shall have been
                made for
                the payment thereof and, to the best knowledge of management of the
                Trust,
                no such return or report shall be currently under audit and no assessment
                shall have been asserted with respect to such returns or
                reports.

            

    

     

    
      	
            	
              (k)
                  

            	
              Except
                as otherwise disclosed in writing to and accepted by the Trust, on
                behalf
                of the Acquiring Fund, no litigation or administrative proceeding
                or
                investigation of or before any court or governmental body is presently
                pending or, to its knowledge, threatened against the Acquired Fund
                or any
                of its properties or assets that, if adversely determined, would
                materially and adversely affect its financial condition or the conduct
                of
                its business.  The Trust, on behalf of the Acquired Fund, knows
                of no facts which might form the basis for the institution of such
                proceedings and is not a party to or subject to the provisions of
                any
                order, decree or judgment of any court or governmental body which
                materially and adversely affects its business or its ability to consummate
                the transactions herein contemplated;
                and

            

    

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

     

    
      	
              (l)  

            	
              Since
                December 31, 2007, there has not been any material adverse change
                in the
                Acquired Fund’s financial condition, assets, liabilities or business,
                other than changes occurring in the ordinary course of business,
                or any
                incurrence by the Acquired Fund of indebtedness maturing more than
                one
                year from the date such indebtedness was incurred, except as otherwise
                disclosed to and accepted by the Acquiring Fund.  For the
                purposes of this subparagraph (l), a decline in net asset value per
                share
                of Acquired Fund shares due to declines in market values of securities
                held by the Acquired Fund, the discharge of Acquired Fund liabilities,
                or
                the redemption of Acquired Fund shares by shareholders of the Acquired
                Fund shall not constitute a material adverse
                change.

            

    

     

    
      	
              5.  

            	
              Certain
                Representations, Warranties and Agreements of the Trust on Behalf
                of the
                Acquiring Fund.  The Trust, on behalf of itself and where
                appropriate, on behalf of the Acquiring Fund, represents and warrants
                as
                follows:

            

    

    

    
      	
              (a)  

            	
              The
                Acquiring Fund is duly organized as a series of the Trust which is
                a
                business trust duly formed, validly existing and in good standing
                under
                the laws of the State of Delaware and is registered with the SEC
                as an
                open-end management investment company under the 1940 Act and such
                registration is in full force and
                effect.

            

    

    

    
      	
              (b)  

            	
              The
                Trust has the power to own all of its properties and assets and to
                consummate the transactions contemplated herein, and has or will
                have at
                the Effective Time of the Reorganization all necessary federal, state
                and
                local authorizations to carry on its business as now being conducted
                and
                to consummate the transactions contemplated by this
                Agreement.

            

    

    

    
      	
              (c)  

            	
              This
                Agreement has been duly authorized by the Board of Trustees of the
                Trust
                on behalf of the Acquiring Fund, and executed and delivered by duly
                authorized officers of the Trust, and represents a valid and binding
                contract, enforceable in accordance with its terms, subject as to
                enforcement to bankruptcy, insolvency, reorganization, arrangement,
                moratorium and other similar laws of general applicability relating
                to or
                affecting creditors’ rights and to general equity
                principles.  The execution and delivery of this Agreement does
                not, and the consummation of the transactions contemplated by this
                Agreement will not, violate the Amended and Restated Declaration
                of Trust
                of the Trust or any material agreement or arrangement to which it
                is a
                party or by which it is bound.

            

    

    

    
      	
              (d)  

            	
              The
                Acquiring Fund has elected to qualify and has qualified as a regulated
                investment company under Part I of Subchapter M of Subtitle A, Chapter
                1,
                of the Code, as of and since its formation; and it qualifies and
                shall
                continue to qualify as a regulated investment company for its current
                taxable year.

            

    

     

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

     

    
      	
              (e)  

            	
              The
                Trust has valued, and will continue to value, the portfolio securities
                and
                other assets of the Acquiring Fund in accordance with applicable
                legal
                requirements.

            

    

    

    
      	
              (f)  

            	
              The
                N-14 Registration Statement from its effective date with the SEC
                through
                the time of the shareholder meeting referred to in Section 7 and
                at the
                Effective Time of the Reorganization, insofar as it relates to the
                Trust
                or the Acquiring Fund (i) shall comply in all material respects with
                the provisions of the 1933 Act, the 1934 Act and the 1940 Act, the
                rules
                and regulations thereunder, and state securities laws, and (ii) shall
                not
                contain any untrue statement of a material fact or omit to state
                a
                material fact required to be stated therein or necessary to make
                the
                statements made therein not
                misleading.

            

    

    

    
      	
              (g)  

            	
              The
                shares of the Acquiring Fund to be issued and delivered to the Acquired
                Fund for the account of the shareholders of the Acquired Fund, pursuant
                to
                the terms hereof, shall have been duly authorized as of the Effective
                Time
                of the Reorganization and, when so issued and delivered, shall be
                duly and
                validly issued, fully paid and non-assessable, and no shareholder
                of the
                Acquiring Fund shall have any preemptive right of subscription or
                purchase
                in respect thereto.

            

    

    

    
      	
              (h)  

            	
              All
                of the issued and outstanding shares of the Acquiring Fund have been
                validly issued and are fully paid and non-assessable, and were offered
                for
                sale and sold in conformity with the registration requirements of
                all
                applicable federal and state securities
                laws.

            

    

    

    
      	
            	
              (i)
                  

            	
              The
                Trust shall operate the business of the Acquiring Fund in the ordinary
                course between the date hereof and the Effective Time of the
                Reorganization, it being understood that such ordinary course of
                business
                will include the declaration and payment of customary dividends and
                distributions and any other dividends and distributions deemed advisable
                in anticipation of the GTF Reorganization.  Notwithstanding
                anything herein to the contrary, the Trust shall take all appropriate
                action necessary in order for the Trust to receive the opinion(s)
                provided
                for in Sections 9(f) and 10(d).

            

    

     

    
      	
              (j)  

            	
              At
                the Effective Time of the Reorganization, all federal and other tax
                returns and reports of the Acquiring Fund required by law to have
                been
                filed by such time shall have been filed, and all federal and other
                taxes
                shall have been paid so far as due, or provision shall have been
                made for
                the payment thereof and, to the best knowledge of management of the
                Trust,
                no such return or report shall be currently under audit and no assessment
                shall have been asserted with respect to such returns or
                reports.

            

    

     

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

     

    
      	
              (k)  

            	
              Except
                as otherwise disclosed in writing to and accepted by the Trust on
                behalf
                of the Acquired Fund, no litigation or administrative proceeding
                or
                investigation of or before any court or governmental body is presently
                pending or to the Acquiring Fund’s knowledge, threatened against the
                Trust, on behalf of the Acquiring Fund, or any of the Acquiring Fund’s
                properties or assets that, if adversely determined, would materially
                and
                adversely affect the Acquiring Fund’s financial condition or the conduct
                of its business.  The Trust, on behalf of the Acquiring Fund,
                knows of no facts which might form the basis for the institution
                of such
                proceedings and is not a party to or subject to the provisions of
                any
                order, decree or judgment of any court or governmental body which
                materially and adversely affects the Acquiring Fund’s business or its
                ability to consummate the transactions herein
                contemplated.

            

    

    

    
      	
              (l)  

            	
              Since
                December 31, 2007, there has not been any material adverse change
                in the
                Acquiring Fund’s financial condition, assets, liabilities or business,
                other than changes occurring in the ordinary course of business,
                or any
                incurrence by the Acquiring Fund of indebtedness maturing more than
                one
                year from the date such indebtedness was incurred, except as otherwise
                disclosed to an accepted by the Acquired Fund.  For purposes of
                this subparagraph (l), a decline in net asset value per share of
                the
                Acquiring Fund shares due to declines in market values of securities
                held
                by the Acquiring Fund, the discharge of Acquiring Fund liabilities,
                or the
                redemption of Acquiring Fund shares by shareholders of the Acquiring
                Fund,
                shall not constitute a material adverse
                change.

            

    

    

    
      	
              6.  

            	
              Regulatory
                Filings.  The Trust will file the N-14 Registration
                Statement with the SEC.

            

    

    

    
      	
              7.  

            	
              Shareholder
                Action.  After the effective date of the N-14
                Registration Statement, the Trust shall hold a meeting of the shareholders
                of the Acquired Fund for the purpose of considering and voting
                upon:

            

    

    

    
      	
              (a)  

            	
              approval
                of this Agreement and the GTF Reorganization contemplated hereby;
                and

            

    

    

    
      	
              (b)  

            	
              such
                other matters as may be determined by the Board of Trustees of the
                Trust.

            

    

    

    
      	
              8.  

            	
              Closing
                Date,
                Effective Time of the Reorganization.  The “Closing Date”
                shall be May __, 2008, or such earlier or later dates as the parties
                shall
                agree.  Delivery of the Fund Assets and the shares of the
                Acquiring Fund to be issued pursuant to Section 1 and the liquidation
                of
                the Acquired Fund pursuant to Section 2 shall occur on the day following
                the Closing Date, whether or not such day is a business day, or on
                such
                other date, and at such place and time, as may be mutually agreed,
                by the
                parties hereto.  The date and time at which such actions are
                taken are referred to herein as the “Effective Time of the
                Reorganization.”  To the extent any Fund Assets are, for any
                reason, not transferred at the Effective Time of the Reorganization,
                the
                Trust shall cause such Fund Assets to be transferred in accordance
                with
                this Agreement at the earliest practicable date
                thereafter.

            

    

     

    
      
        
        

      

      
        8

        
          

        

      

      
        
        

      

    

     

    
      	
              9.  

            	
              Conditions
                to the
                Trust’s Obligations on Behalf of the Acquiring Fund.  The
                obligations of the Trust, on behalf of the Acquiring Fund, hereunder
                shall
                be subject to the following conditions
                precedent:

            

    

    

    
      	
              (a)  

            	
              This
                Agreement and the GTF Reorganization shall have been approved by
                the Board
                of Trustees of the Trust and by a requisite vote of the shareholders
                of
                the Acquired Fund in the manner required by the Trust’s Amended and
                Restated Declaration of Trust, By-Laws, applicable law and this
                Agreement.

            

    

    

    
      	
              (b)  

            	
              All
                representations and warranties of the Trust made in this Agreement
                shall
                be true and correct in all material respects as if made at and as
                of the
                Valuation Time and the Effective Time of the
                Reorganization.

            

    

    

    
      	
              (c)  

            	
              The
                Trust shall have delivered to the Trust a statement of assets and
                liabilities of the Acquired Fund, showing the tax basis of such assets
                for
                federal income tax purposes by lot and the holding periods of such
                assets,
                as of the Valuation Time.

            

    

    

    
      	
              (d)  

            	
              The
                Trust shall have duly executed and delivered to the Trust such bills
                of
                sale, assignments, certificates and other instruments of transfer
                (“Transfer Documents”) as the Trust may deem necessary or desirable to
                transfer all of the Acquired Fund’s rights, title and interest in and to
                the Fund Assets.

            

    

    

    
      	
              (e)  

            	
              The
                Trust shall have delivered a certificate executed in its name by
                an
                appropriate officer, dated as of the Closing Date, to the effect
                that the
                representations and warranties of the Trust on behalf of the Acquired
                Fund
                made in this Agreement are true and correct at and as of the Valuation
                Time and that, to the best of its knowledge, the Fund Assets include
                only
                assets which the Acquiring Fund may properly acquire under its investment
                objective, policies and limitations and may otherwise be lawfully
                acquired
                by the Acquiring Fund.

            

    

    

    
      	
              (f)  

            	
              The
                Trust shall have received an opinion of Paul, Hastings, Janofsky
&
                Walker LLP, upon which the Acquiring Fund and its shareholders may
                rely,
                in form and substance reasonably satisfactory to the Trust based
                upon
                representations made in certificates provided by the Trust, and/or
                its
                affiliates and/or principal shareholders of the Acquiring Fund and/or
                the
                Acquired Fund to Paul, Hastings, Janofsky & Walker LLP and dated as of
                the Closing Date, substantially to the effect that the GTF Reorganization
                will qualify as a “reorganization” within the meaning of Section 368(a) of
                the Code, and the Acquiring Fund and the Acquired Fund will each
                be a
                “party to a reorganization”, within the meaning of Section 368(b) of the
                Code, with respect to the GTF
                Reorganization.

            

    

     

    
      
        
        

      

      
        9

        
          

        

      

      
        
        

      

    

     

    
      	
              (g)  

            	
              The
                N-14 Registration Statement shall have become effective and no stop
                order
                suspending the effectiveness shall have been instituted, or to the
                knowledge of the Trust, contemplated by the
                SEC.

            

    

    

    
      	
              (h)  

            	
              No
                action, suit or other proceeding shall be threatened or pending before
                any
                court or governmental agency in which it is sought to restrain or
                prohibit, or obtain damages or other relief in connection with, this
                Agreement or the transactions contemplated
                herein.

            

    

    

    
      	
              (i)  

            	
              The
                SEC shall not have issued any unfavorable advisory report under Section
                25(b) of the 1940 Act nor instituted any proceeding seeking to enjoin
                consummation of the transactions contemplated by this Agreement under
                Section 25(c) of the 1940 Act.

            

    

    

    
      	
              (j)  

            	
              The
                Trust on behalf of the Acquired Fund shall have performed and complied
                in
                all material respects with each of its agreements and covenants required
                by this Agreement to be performed or complied with by it prior to
                or at
                the Valuation Time and the Effective Time of the
                Reorganization.

            

    

    

    
      	
              (k)  

            	
              The
                Trust shall have received a duly executed instrument whereby the
                Acquiring
                Fund assumes all of the liabilities of the Acquired
                Fund.

            

    

    

    
      	
              (l)  

            	
              Except
                to the extent prohibited by Rule 19b-1 under the 1940 Act, prior
                to the
                Valuation Time, the Acquired Fund shall have declared a dividend
                or
                dividends, with a record date and ex-dividend date prior to the Valuation
                Time, which, together with all previous dividends, shall have the
                effect
                of distributing to its shareholders all of its previously undistributed
                (i) “investment company taxable income” within the meaning of Section
                852(b) of the Code (determined without regarding Section 852(b)(2)(D)
                of
                the Code), (ii) excess of (A) the amount specified in Section
                852(a)(1)(B)(i) of the Code over (B) the amount specified in Section
                852(a)(1)(B)(ii) of the Code, and (iii) “net capital gain” (within the
                meaning of Section 1222(11) of the Code), if any, realized in taxable
                periods or years ending on or before Effective
                Time.

            

    

    

    
      	
              10.  

            	
              Conditions
                to the
                Trust’s Obligations on Behalf of the Acquired Fund.  The
                obligations of the Trust, on behalf of the Acquired Fund, hereunder
                shall
                be subject to the following conditions
                precedent:

            

    

     

    
      
        
        

      

      
        10

        
          

        

      

      
        
        

      

    

     

    
      	
              (a)  

            	
              This
                Agreement and the GTF Reorganization shall have been approved by
                the Board
                of Trustees of the Trust on behalf of the Acquiring
                Fund.

            

    

    

    
      	
              (b)  

            	
              All
                representations and warranties of the Trust made in this Agreement
                shall
                be true and correct in all material respects as if made at and as
                of the
                Valuation Time and the Effective Time of the
                Reorganization.

            

    

    

    
      	
              (c)  

            	
              The
                Trust shall have delivered a certificate executed in its name by
                an
                appropriate officer, dated as of the Closing Date, to the effect
                that the
                representations and warranties of the Acquiring Fund made in this
                Agreement are true and correct at and as of the Valuation
                Time.

            

    

    

    
      	
              (d)  

            	
              The
                Trust shall have received an opinion of Paul, Hastings, Janofsky
&
                Walker LLP, upon which the Acquired Fund and its shareholders may
                rely, in
                form and substance reasonably satisfactory to the Trust, based upon
                representations made in certificates provided by the Trust, and/or
                its
                affiliates and/or principal shareholders of the Acquiring Fund and/or
                the
                Acquired Fund to Paul, Hastings, Janofsky & Walker LLP, and dated as
                of the Closing Date, substantially to the effect that, for federal
                income
                tax purposes, the GTF Reorganization will qualify as a “reorganization”
                within the meaning of Section 368(a) of the Code, and the Acquiring
                Fund
                and the Acquired Fund will each be a “party to a reorganization,” within
                the meaning of Section 368(b) of the Code, with respect to the GTF
                Reorganization.

            

    

    

    
      	
              (e)  

            	
              The
                N-14 Registration Statement shall have become effective and no stop
                order
                suspending such effectiveness shall have been instituted or, to the
                knowledge of the Trust, contemplated by the
                SEC.

            

    

    

    
      	
              (f)  

            	
              No
                action, suit or other proceeding shall be threatened or pending before
                any
                court or governmental agency in which it is sought to restrain or
                prohibit
                or obtain damages or other relief in connection with this Agreement
                or the
                transactions contemplated herein.

            

    

    

    
      	
              (g)  

            	
              The
                SEC shall not have issued any unfavorable advisory report under Section
                25(b) of the 1940 Act nor instituted any proceeding seeking to enjoin
                consummation of the transactions contemplated by this Agreement under
                Section 25(c) of the 1940 Act.

            

    

    

    
      	
              (h)  

            	
              The
                Trust on behalf of the Acquiring Fund shall have performed and complied
                in
                all material respects with each of its agreements and covenants required
                by this Agreement to be performed or complied with by it prior to
                or at
                the Valuation Time and the Effective Time of the
                Reorganization.

            

    

     

    
      
        
        

      

      
        11

        
          

        

      

      
        
        

      

    

    
      	
              11.  

            	
              Tax
                Matters

            

    

    

    
      	
              (a)  

            	
              The
                Trust hereby represents and warrants on behalf of the Acquiring Fund
                and
                the Acquired Fund that each shall use its best efforts to cause the
                GTF
                Reorganization to qualify, and will not (whether before or after
                consummation of the GTF Reorganization) take any actions that could
                prevent the GTF Reorganization from qualifying, as a “reorganization”
                under the provisions of Section 368 of the
                Code.

            

    

    

    
      	
              (b)  

            	
              Except
                where otherwise required by law, the parties shall not take a position
                on
                any tax returns inconsistent with the treatment of the GTF Reorganization
                for tax purposes as a “reorganization,” within the meaning of Section
                368(a) of the Code and the Acquiring Fund and the Acquired Fund will
                comply with the record keeping and information filing requirements
                of
                Section 1.368-3 of the Treasury Regulation in accordance
                therewith.

            

    

    

    
      	
              12.  

            	
              Survival
                of
                Representations and Warranties.  The representations and
                warranties of the Trust on behalf of the Acquiring Fund and the Trust
                on
                behalf of the Acquired Fund set forth in this Agreement shall survive
                the
                delivery of the Fund Assets to the Acquiring Fund and the issuance
                of the
                shares of the Acquiring Fund at the Effective Time of the Reorganization
                to the Acquired Fund’s
                shareholders.

            

    

    

    
      	
              13.  

            	
              Termination
                of
                Agreement.  This Agreement may be terminated by a party
                at or, in the case of Subsection 13(c), below, at any time prior
                to, the
                Effective Time of the Reorganization by a vote of a majority of its
                Board
                members as provided below:

            

    

    

    
      	
              (a)  

            	
              By
                the Trust on behalf of the Acquiring Fund if the conditions set forth
                in
                Section 9 are not satisfied as specified in said
                Section;

            

    

    

    
      	
              (b)  

            	
              By
                the Trust on behalf of the Acquired Fund if the conditions set forth
                in
                Section 10 are not satisfied as specified in said Section;
                and

            

    

    

    
      	
              (c)  

            	
              By
                resolution of the Trust’s Board of Trustees if circumstances should
                develop that, in its opinion, make proceeding with the agreement
                inadvisable.

            

    

    

    
      	
              14.  

            	
              Governing
                Law.  This Agreement and the transactions contemplated
                hereby shall be governed, construed and enforced in accordance with
                the
                laws of the State of Delaware, except to the extent preempted by
                federal
                law.

            

    

     

    
      
        
        

      

      
        12

        
          

        

      

      
        
        

      

    

     

    
      	
              15.  

            	
              Brokerage
                Fees and
                Expenses.

            

    

    

    
      	
              (a)  

            	
              The
                Trust represents and warrants that there are no brokers or finders
                entitled to receive any payments in connection with the transactions
                provided for herein.

            

    

    

    
      	
              (b)  

            	
              Firsthand
                Capital Management, Inc. will be responsible for the expenses related
                to
                entering into and carrying out the provisions of this Agreement,
                whether
                or not the transactions contemplated hereby are
                consummated.

            

    

    

    
      	
              16.  

            	
              Amendments.  This
                Agreement may be amended, modified or supplemented in such manner
                as may
                be mutually agreed upon in writing by the authorized officers of
                the
                Trust; provided, however, that following the meeting of the shareholders
                of the Acquired Fund, no such amendment may have the effect of changing
                the provisions for determining the number of shares of the Acquiring
                Fund
                to be issued to the Transferor Record Holders under this Agreement
                to the
                detriment of such Transferor Record Holders, or otherwise materially
                and
                adversely affecting the Acquired Fund, without the Acquired Fund
                obtaining
                its shareholders’ further approval.

            

    

     

    IN
      WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed
      by
      their duly authorized officers designated below as of the date first written
      above.

    

    

    
      	 	
              FIRSTHAND
                FUNDS

              On
                behalf of Firsthand Global Technology Fund

              
              

               

              By:
                 ______________________________                                
                

               

              Name:  Kevin
                Landis

              Title:  President

               

            
	 	
              FIRSTHAND
                FUNDS

              On
                behalf of Firsthand Technology Value Fund

              
              

               

              By:
                 ______________________________                                
                

               

              Name:  Kevin
                Landis

              Title:  President

              
              

            

    

     

    
      
        
        

      

      13Filed by Bacchus Filings Inc. 604.632.1285       Mantra Venture Group Ltd. Form 8-K

	CONSULTING AGREEMENT

THIS CONSULTING AGREEMENT (the "Agreement") effective as of February 8, 2008 (the “Effective Date”)

BETWEEN

	 	MANTRA VENTURE GROUP LTD.

207 West Hastings Street, Suite 1209

Vancouver, British Columbia

Canada V6B 1H7

	(the "Company")

	AND

	 	METRADON VENTURES LIMITED

Unit 2905, Block E

Tung Ning House

9 Oi Yin Street

Shaukiwan, Hong Kong

	(the “Consultant”)

	WHEREAS:

	A.      	
The Company engaged in the acquisition and development of technologies and services that reduce the environmental impact of energy production and resource consumption;

	 
	B.      	
The Company desires to retain the Consultant to provide certain business development consulting services to the Company on the terms and subject to the conditions of this Agreement.

	 

THIS AGREEMENT WITNESSES THAT in consideration of the premises and mutual covenants contained in this Agreement and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties, intending to be legally bound hereby, agree as follows:

	1.      	
ENGAGEMENT AS A CONSULTANT

	 
	1.1      	
The Company hereby engages the Consultant as a consultant to provide the services of the Consultant in accordance with the terms and conditions of this Agreement and the Consultant hereby accepts such engagement.

	 

	2.      	
TERM OF THIS AGREEMENT

	 
	2.1      	
The initial term of this Agreement shall begin as of the date of this Agreement and shall continue until August 31, 2008 (the “Initial Term”). The Company may, in its sole discretion, extend the Initial Term by a period of 6 months by providing not less than 30 days written notice to the Consultant prior to the expiration of the Initial Term. (the Initial Term and any extension of the Initial Term are hereinafter referred to as the “Term”).

	 

	3.      	
CONSULTANT SERVICES

	 
	3.1      	
The Consultant agrees to perform the following services during the Term and undertake the following responsibilities and duties to the Company as consulting services (the "Consulting Services"):

	 

 

 

The Consultant shall:

	           	a)      	
assist the Company in business development in South East Asia, Hong Kong, and China;

		 
		b)      	
assist the Company in identifying and acquiring new technology through licensing, strategic alliances and business acquisitions;

		 
		c)      	
assist the Company in targeting and procuring potential mergers and acquisitions of businesses complimentary to the Company;

		 
		d)      	
assist the Company in seeking and procuring strategic partners to market the services of the Company and its subsidiaries divisions of the Company throughout the region;

		 

At no time shall the Consultant be asked to provide investor relations services or capital raising services for the Company.

	3.2	The Consultant shall devote its time, attention and energies to the business affairs of the Company as may be reasonably necessary for the provision of the Consulting Services, provided, however, the Consultant may engage in other personal and business activities that do not interfere with the Consultant's obligations hereunder.
		

	3.3      	
In providing the Consulting Services, the Consultant shall:

	 
	 	a)      	
comply with all applicable federal, provincial, state, municipal and foreign statutes, laws and regulations;

	 
	 	b)      	
not make any misrepresentation or omit to state any material fact that shall result in a misrepresentation regarding the business of the Company;

	 
	 	c)      	
not disclose any information about the Company, its business, or its subsidiaries to anyone prior to the information being released to the general public, unless specifically given written permission to make the specific disclosure by the Company;

	 
	 	d)      	
exercise only such powers and perform such duties in relation to the business of the Company as may from time to time be vested in or assigned to it in writing by the Company and comply with all reasonable directions given to it by the Company in connection with the provision of the Services;

	 
	 	e)      	
not hold itself out as being able to commit the Company, or hold itself out as an agent, partner, joint venturer, employee, director or officer of the Company; and

	 
	 	f)      	
not employ any person in any capacity, or contract for the purchase or rental of any service, article or material, nor make any commitment, agreement or obligation whereby the Company shall be required to pay any monies or other consideration without the Company's prior consent in each instance.

	 
	3.4      	
The Consultant shall at all times be an independent contractor and the Consultant shall not be deemed to be an employee of the Company.

	 

	4.      	
CONSULTANT FEE

	 
	4.1      	
In consideration for the provision of the Consulting Services during the Term, the Company shall pay the Consultant by the issuance of 600, 000 Units with each Unit consisting of 1 common share of the Company and 1 warrant to purchase one additional common share of the Company at $0.40 US per share, exercisable for a period of six months from the date of issuance (collectively the “Units”). The exercise period of the warrants shall extend automatically for an additional period of 6 months upon Company’s exercise of its option to extend the Term hereof. Notwithstanding the foregoing, the Company may otherwise extend the exercise period of the warrants in its sole discretion with notice to Consultant. The Units shall be subject to the subscription agreement attached hereto and incorporate into this Agreement as Exhibit “A”. The Units shall be valued at the current market value of the Company’s common stock at the time of issuance.

	 	 
	4.2	From time to time during the Term, at the sole discretion of the Company, the Company shall review the services provided by the Consultant hereunder, and determine, in its sole discretion, whether it shall issue a bonus payment to the Consultant for meeting or exceeding management’s expectations of services delivered by the Consultant.

 

 

 

	4.3

	(a)	Upon the acquisition by the Company of any technology procured by the Consultant pursuant to this Agreement and protected by a patent for a period of not less than five years from the date of such acquisition, the Company shall compensate the Consultant by the issuance of 100,000 common shares in the capital stock of the Company.
			

	 	(b)      	
Upon the acquisition by the Company of any revenue producing business or corporation procured by the Consultant pursuant to this Agreement, the Company shall compensate the Consultant by the issuance of 500,000 common shares in the capital stock of the Company.

	 
	 	(c)      	
Nothing in this section 4.3 shall obligate the Company to complete any acquisition procured by the Consultant.

	 
	 	(d)      	
Any shares provided to the Consultant in accordance with this section 4.3 shall be subject to the same restrictions applicable to the share forming part of the Units payable to Consultant hereunder, provided, however, that the Company shall have no obligation to file any registration statement in respect of such additional shares.

	 
	5.      	
REGISTRATION RIGHT

	 
	5.1      	
The Company shall include the shares and warrants constituting the Units in the Company's next Form S-1 that shall be submitted for registration with the SEC.

	 

	6.      	
NO REIMBURSEMENT OF EXPENSES

	 
	6.1      	
The consultant fees described above include all fees and expenses. The Company shall have no obligation to pay any expenses incurred by the Consultant or by any third party on behalf of Consultant for the provision of the Consulting Services.

		

	7.      	
CONFIDENTIALITY

	 
	7.1      	
“Confidential Information” means the specific terms and conditions set forth in this Agreement, and any information of the Company, or of any entity controlling, controlled by, or under common control with the Company (individually and collectively an “Affiliate”), which information is non-public, confidential or proprietary in nature, including, without limitation, business information, trade secrets, technical or non-technical data, know-how, formulas, patterns, compilations, computer programs and software (including source and object code), devices, drawings, processes, methods, techniques, financial and product plans or data, lists of or information regarding actual or potential customers or suppliers, and other business information which: (i) derives economic value, actual or potential, from not being generally known to or readily ascertainable by proper means, by other persons who can obtain economic value from its disclosure or use; and (ii) is the subject of efforts that are reasonable under the circumstances to maintain its secrecy.

	 
	7.2      	
Consultant acknowledges that certain of the material and information made available to Consultant by the Company in the performance of the Consulting Services shall constitute Confidential Information. Consultant recognizes that the Confidential Information is the sole and exclusive property of the Company, and Consultant shall use its best efforts and exercise utmost diligence to protect and maintain the confidentiality of the Confidential Information. Consultant shall not, directly or indirectly, use or disclose the Confidential Information, whether or not acquired, learned, obtained or developed by Consultant alone or in conjunction with others, except as such disclosure or use may be required in connection with the performance of the Services or as may be consented to in writing by the Company.

	 
	7.3      	
The Confidential Information is and shall remain the sole and exclusive property of the Company regardless of whether such information was generated by Consultant or by others, and Consultant agrees that upon termination of this Agreement it shall deliver promptly to the Company all such tangible parts of the Confidential Information including records, data, notes, reports, proposals, client lists, correspondence, materials, marketing or sales information, computer programs, equipment, or other documents or property which are in the possession or under the control of Consultant without retaining copies thereof.

	 

 

	7.4      	
Each of the obligations of Consultant in this section 7 shall also apply to any confidential information of customers, joint venture parties, partners, employees, contractors, directors, officers or shareholders of the Company or an Affiliate, or to any other entities of any nature whatsoever with whom the Company or any Affiliate has business relations.

	 
	7.5      	
Notwithstanding the foregoing provisions of this clause, Consultant shall not be liable for the disclosure or use of any of the Confidential Information to the extent that the Confidential Information:

	 
	 	(a)      	
was in the public domain prior to the Effective Date of this Agreement or subsequently came into the public domain through no fault of Consultant;

	 
	 	(b)      	
was lawfully received by Consultant from a third party, which third party was, to the knowledge of Consultant, free of any obligation of confidentiality;

	 
	 	(c)      	
was already in the lawful possession of Consultant without an obligation to maintain its confidentiality prior to its disclosure to Consultant;

	 
	 	(d)      	
is required to be disclosed by applicable law, or in a judicial or administrative proceeding, but only so long as Consultant, to the extent it is not legally prohibited, gives the Company notice, prior to any disclosure, of any request to disclose Confidential Information so that the Company has an opportunity to object to the production or disclosure of the requested information. In the event that Confidential Information is produced under such legal compulsion, such production shall be strictly limited to the requesting party as dictated by applicable law or court order, shall be limited in scope to the extent practicable, and shall not otherwise affect the confidential nature of such Confidential Information;

	 
	 	(e)      	
can be proven to have been subsequently and independently developed, without violation of this Agreement, by employees, consultants or agents of the Consultant who did not have access to the Confidential Information; or

	 
	 	(f)      	
is disclosed by Consultant in accordance with the prior written approval of the Company, but only to the extent allowed and for the limited purposes specified in such written approval. Such permitted disclosure shall not otherwise affect the confidential nature of such Confidential Information.

	 
	7.5      	
For purposes of this Agreement, Confidential Information shall not be deemed to be in the public domain or be in Consultant’s lawful possession merely because it consists of components that are within the public domain.

	 
	7.6      	
The covenants and agreements contained in this section 7 shall survive the expiration or termination of this Agreement.

	 
	8.      	
NON-SOLICITATION

	 
	8.1      	
Consultant shall not during the Term of this Agreement hire or take away or cause to be hired or taken away any employee or consultant of the Company. Additionally, for a period of 12 months following the termination of this Agreement, Consultant shall not hire or take away or cause to be hired or taken away any employee or consultant who was in the employ of the Company during the 12 months preceding such termination.

	 
	      	
 

	 

 

	9.	
REPRESENTATIONS AND WARRANTIES

		

	9.1      	
The Consultant represents that it is a corporation in good standing in the place of its incorporation, that it has the lawful right and corporate authority to enter into and carry out its obligations under this Agreement and that the person signing on behalf of Consultant has the authority to bind Optionor to the terms and conditions of this Agreement.9.2 The Company represents that it is a corporation in good standing in the place of its incorporation, that it has the lawful right and corporate authority to enter into and carry out its obligations under this Agreement and that the person signing on behalf of the Company has the authority to bind the Company to the terms and conditions of this Agreement.

		

	10.      	
TERMINATION

	 
	10.1      	
Termination without Cause. Each party shall have the right to terminate this Agreement at any time by providing written notice to the other not less than 30 days prior to the desired date of termination.

	 
	10.2      	
Termination for Default. If either party (i) breaches any warranty or other material provision of this agreement, (ii) files a voluntary petition in bankruptcy, (iii) is subject to an involuntary petition in bankruptcy filed against it, or (iv) if a trustee or liquidator is appointed for either party, whether directly or in relation to that parties properties (each and all such events being herein defined as “default”) then at any time during the continuance of such default the other party may, in addition to any other rights it may have at law or in equity, suspend delivery or performance of the Services as are affected by such default, and/or terminate this Agreement with respect to all Services or such Services as are affected by such default. A default by either party under this Agreement shall not be deemed to be a default under any and all other agreements between Consultant and the Company.

	 
	 	
Notwithstanding the foregoing, the party relying on such default shall provide written notice of its intention to terminate this Agreement by reason of default hereunder and the defaulting party shall have seven days from its receipt of such notice within which to cure such default (provided that the foregoing notice requirement shall not apply in the case of default which, by its nature, cannot be cured within seven days).

	 
	10.3      	
Force Majeure. If it shall be impossible or become illegal for either party to substantially perform hereunder as required for a temporary period due to strike, flood or other natural calamity or catastrophe or due to governmental law, order or regulation, then such impossibility shall not constitute a default hereunder, and each of the provisions hereof shall continue with full force and effect; except that the Term of this Agreement shall be extended for a term equal to the duration of such temporary impossibility of performance. If such impossibility by either party shall continue for a period of more than seven days, either party may then terminate this Agreement by providing written notice to the other.

	 
	11.      	
MISCELLANEOUS

	 
	11.1      	
Relationship Between the Parties. Nothing contained in this Agreement shall be construed as creating any relationship (whether by way of employer/employee, agency, joint venture, association, or partnership). It is expressly understood that the relationship between the parties shall be that of independent contractors, whether for the purposes of any federal, state or provincial tax taxation law, rule or regulation of the United States of America, Canada, or otherwise.

	 
	11.2      	
Time. Time is of the essence of this Agreement.

	 
	11.3      	
Presumption. This Agreement or any section thereof shall not be construed against any party due to the fact that said Agreement or any section thereof was drafted by said party.

	 
	11.4      	
Titles and Captions. All article, section and paragraph titles or captions contained in this Agreement are for convenience only and shall not be deemed part of the context nor affect the interpretation of this Agreement.

	 

 

	11.5      	
Further Action. The parties hereto shall execute and deliver all documents, provide all information and take or forbear from all such action as may be necessary or appropriate to achieve the purposes of this Agreement.

	 
	11.6      	
Good Faith, Cooperation and Due Diligence. The parties hereto covenant, warrant and represent to each other good faith, complete cooperation, due diligence and honesty in fact in the performance of all obligations of the parties pursuant to this Agreement. All promises and covenants are mutual and dependent.

	 
	11.7      	
Savings Clause. If any provision of this Agreement, or the application of such provision to any person or circumstance, shall be held invalid, the remainder of this Agreement, or the application of such provision to persons or circumstances other than those as to which it is held invalid, shall not be affected thereby.

	 
	11.8      	
Assignment. This Agreement may not be assigned by either party hereto without the written consent of the other, but shall be binding upon the successors of the parties.

	 
	11.9      	
Notices. All notices required or permitted to be given under this Agreement shall be given in writing and shall be delivered, either personally or by express delivery service, to the party to be notified. Notice to each party shall be deemed to have been duly given upon delivery, personally or by courier, addressed to the attention of the officer at the address set forth heretofore, or to such other officer or addresses or by such other means as either party may designate, upon at least five days written notice, to the other party.

	 
	11.10      	
Entire agreement. This Agreement contains the entire understanding and agreement among the parties. There are no other agreements, conditions or representations, oral or written, express or implied, with regard thereto. This Agreement may be amended only in writing signed by all parties.

	 
	11.11      	
Waiver. A delay or failure by any party to exercise a right under this Agreement, or a partial or single exercise of that right, shall not constitute a waiver of that or any other right.

	 
	11.12      	
Counterparts. This Agreement may be executed in counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same Agreement. In the event that the document is signed by one party and faxed to another the parties agree that a faxed signature shall be binding upon the parties to this Agreement as though the signature was an original.

	 
	11.13      	
Successors. The provisions of this Agreement shall be binding upon all parties, their successors and assigns.

	 
	11.14      	
Counsel. The parties expressly acknowledge that each has been advised to seek separate counsel for advice in this matter and has been given a reasonable opportunity to do so.

	 
	11.15      	
Jurisdiction. The parties hereby attorn to the jurisdiction of the provincial and federal courts located in the city of Vancouver, British Columbia for all matters arising from this Agreement.

	 

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

MANTRA VENTURE GROUP LTD.

Per: /s/ Larry Kristof

        Larry Kristof, President

 

 

METRADON VENTURES LIMITED

/s/ Wai Ching Chung

Wai Ching Chung, Director

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