Document:

Filed by Automated Filing Services Inc. (604) 609-0244 - FC Financial Services Inc. - Exhibit 10.2

LOAN AGREEMENT

THIS AGREEMENT dated as of the 16 day of May, 2006.

BETWEEN:

ICP SOLAR TECHNOLOGIES
INC., of
7075 Place Robert-Joncas, Unit 131, Montreal, Quebec

Canada H4M 2Z2

(hereinafter called the
“Borrower”)

OF THE FIRST PART

AND:

FC FINANCIAL SERVICES
INC., of
110 Jardin Drive Suite 13-14, Concord, Ontario 
Canada
L4K 2T7

(hereinafter called the “Lender”)

OF THE SECOND PART

WHEREAS:

A.                       
The Borrower has requested that the Lender lend $1,000,000 US to the
Borrower;

B.                       
The Lender has agreed to lend such sum to the Borrower subject to the terms and
upon the conditions hereinafter set forth.

NOW THEREFORE THIS AGREEMENT WITNESSES THAT in
consideration of the sum of $1.00 paid by each party to the other (the receipt
of which is hereby acknowledged) the parties hereto mutually covenant and agree
as follows:

1.                       
INTERPRETATION

1.1                    
Definitions. Where used herein or in any amendment hereto each of the
following words and phrases shall have the meanings set forth as follows:

	 	(a) 	
      “Agreement” means this Loan Agreement including the
      Schedules hereto together with any amendments hereof;

	 	 	 
	 	(b) 	
      “Event of Default” means any event set forth in paragraph
      5.1;

	 	 	 
	 	(c) 	
      “Loan” means the loan of $1,000,000 (US) to be made by
      the Lender to the Borrower in accordance with this
  Agreement;

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	 	(d) 	
      “Maturity Date” means the earlier of November 8, 2006 or
      90 days following the date of closing of the acquisition of ICP Solar
      Technologies Inc. by FC Financial Services Inc. pursuant to the Term sheet
      dated May 8, 2006; and

	 	 	 
	 	(e) 	
      “Principal Sum” means the sum of $1,000,000
  (US).

1.2                    
Number and Gender. Wherever the singular or the masculine are used herein
the same shall be deemed to include the plural or the feminine or the body
politic or corporate where the context or the parties so require.

1.3                    
Headings. The headings to the articles, paragraphs, subparagraphs or
clauses of this Agreement are inserted for convenience only and shall not affect
the construction hereof.

1.4                    
References. Unless otherwise stated a reference herein to a numbered or
lettered article, paragraph, subparagraph or clause refers to the article,
paragraph, subparagraph or clause bearing that number or letter in this
Agreement. A reference to this Agreement or herein means this Loan Agreement,
including the Schedules hereto, together with any amendments thereof.

1.5                    
Currency. All dollar amounts expressed herein refer to lawful currency of
the United States of America.

2.                      
TERMS OF LOAN

2.1                    
Loan and Repayment. The Lender hereby agrees to lend to the Borrower the
Principal Sum and the Borrower acknowledges receipt of the Principal Sum. The
Loan shall be repaid by the Borrower on the Maturity Date.

2.2                    
Interest. The Borrower shall pay interest at a rate of 10% per annum,
payable on the Maturity Date. After the occurrence of and during the continuance
of an event of default, the Borrower shall pay interest from the date of default
at the rate of 2% per month compounded monthly.

2.3                    
Promissory Note(s). The Loan payable on the Maturity Date shall be
evidenced by a promissory note executed by the Borrower in favour of the Lender
in the form attached hereto as Schedule “A” (the “Promissory Note”).

- 3 -

3.                      
SECURITY

3.1                    
Security. To secure the repayment of the Loan and the payment of all
other monies due hereunder, Sass Peress, Peress Family Trust, Arlene Ades and
Joel Cohen (the “ICP Shareholders”) shall guarantee repayment pursuant to a
guarantee in the form attached hereto as Schedule B (the “Guarantee”) and to
secure such Guarantee will grant to the Lender a pledge of certain shares of the
Borrower in the form attached hereto as Schedule “C” (the “Share Pledge
Agreement”). The Lender’s recourse pursuant to the Guarantee shall be limited to
realization of the shares pledged pursuant to the Share Pledge Agreement and the
ICP Shareholders shall not be personally responsible for any deficiency under
the Guarantee or Share Pledge Agreement.

4.                     
 REPRESENTATIONS AND WARRANTIES

4.1                    
Representations. The Borrower represents and warrants to the Lender, and
acknowledges that the Lender is relying upon such representations and warranties
in entering into this Agreement, as follows:

	 	(a) 	
      this Agreement has been duly authorized by all required
      corporate action on the part of the Borrower;

	 	 	 
	 	(b) 	
      the Borrower has the capacity to enter into this
      Agreement, and the execution of this Agreement and the completion of the
      transactions contemplated hereby shall not be in violation of the
      certificate and articles of incorporation and by-laws of the Borrower or
      any agreement to which the Borrower is a party;

	 	 	 
	 	(c) 	
      there are 3,064,291 shares of common stock of the
      Borrower issued and outstanding as of the date hereof, and there are no
      other shares now outstanding; and

	 	 	 
	 	(d) 	
      there are no options, warrants or other securities,
      rights or obligations convertible into or exchangeable for, or giving any
      person any right to acquire, any shares of the Borrower
  outstanding.

5.                     
 EVENTS OF DEFAULT AND REMEDIES

5.1                    
Events of Default. Any one or more of the following events, whether or
not any such event shall be voluntary or involuntary or be effected by operation
of law or pursuant to or in compliance with any judgment, decree or order of any
court or any order, rule or regulation of any administrative or governmental
body, shall constitute an Event of Default:

- 4 -

	 	(a) 	
      if the Borrower defaults in the payment of any monies due
      under the Promissory Note as and when the same is due;

	 	 	 
	 	(b) 	
      if the Borrower defaults in the observance or performance
      of any other provision hereof;

	 	 	 
	 	(c) 	
      if an order is made or a resolution is passed or a
      petition is filed for the liquidation or winding-up of the Borrower;
    or

	 	 	 
	 	(d) 	
      if the Borrower commits an act of bankruptcy or makes a
      general assignment for the benefit of its creditors or otherwise
      acknowledges its insolvency.

5.2                    
Remedies Upon Default. Upon the occurrence of any Event of Default and at
any time thereafter, provided that the Borrower has not by then remedied such
Event of Default, the Lender may, in its discretion, by notice to the Borrower,
declare this Agreement to be in default. At any time thereafter, while the
Borrower shall not have remedied such Event of Default, the Lender, in its
discretion, may:

	 	(a) 	
      declare the Loan and other monies owing by the Borrower
      to the Lender hereunder to be immediately due and payable;

	 	 	 
	 	(b) 	
      demand payment from the Borrower and the ICP Shareholders
      and exercise any or all of its remedies under this Agreement the Guarantee
      and the Share Pledge Agreement.

5.3                    
Other Security. The rights and powers conferred by subparagraph 5.2 are
in addition to and not in substitution for the Guarantee, the Share Pledge
Agreement or any other security, which the Lender now or from time to time may
hold or take from the Borrower in relation to this Agreement.

5.4                    
Remedies Non-Exclusive. No remedy conferred on the Lender hereby or in
the Share Pledge Agreement is intended to be exclusive. Each and every remedy
shall be cumulative and shall be in addition to every other remedy given
hereunder or under the Guarantee and/or the Share Pledge Agreement or now or
hereafter existing at law or in equity or by statute or otherwise. The exercise
or commencement of exercise by the Lender of any one or more of such remedies
shall not preclude the simultaneous or later exercise by the Lender of any or
all other such remedies.

6.                     
 MISCELLANEOUS

6.1                    
Notices. Any notice required or permitted to be given under this
Agreement shall be in writing and may be given by delivering same or mailing
same by registered mail or sending same by telecopier or other similar form of
communication to the following addresses:

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	 	The Borrower: 	7075 Place Robert-Joncas, Unit 131 
	 	  	Montreal, Quebec 
	 		 Canada H4M 2Z2 
	 	  	  
	 	  	Telecopier No.: 514.270.3677 
	 	  	  
	 	  	  
	 	The Lender: 	110 Jardin Drive Suite 13-14 
	 	 	Concord, Ontario 
	 	  	Canada L4K 2T7 
	 	  	  
	 	  	Telecopier No.: 905.761.1095

Any notice so given shall:

	 	(a) 	
      if delivered, be deemed to have been given at the time of
      delivery;

	 	 	 
	 	(b) 	
      if mailed by registered mail, be deemed to have been
      given on the fifth business day after and excluding the day on which it
      was so mailed, but should there be, at the time of mailing or between the
      time of mailing and the deemed receipt of the notice, a mail strike,
      slowdown or other labour dispute which might affect the delivery of such
      notice by the mails, then such notice shall be only effective if actually
      delivered; and

	 	 	 
	 	(c) 	
      if sent by telecopier or other similar form of
      communication, be deemed to have been given or made on the first business
      day following the day on which it was sent.

Any party may give written notice of a change of address in the
aforesaid manner, in which event such notice shall thereafter be given to such
party as above provided at such changed address.

6.2                    
Amendments. Neither this Agreement nor any provision hereof may be
amended, waived, discharged or terminated orally, but only by an instrument in
writing signed by the party against whom enforcement of the amendment, waiver,
discharge or termination is sought.

6.3                    
Entire Agreement. This Agreement embodies the entire agreement and
understanding between the parties hereto and supersedes all prior agreements and
undertakings, whether oral or written, pertaining to the subject matter
hereof.

6.4                    
Action on Business Day. If the date upon which any act or payment
hereunder is required to be done or made falls on a day which is not a business
day, then such act or payment shall be performed or made on the first business
day next following.

6.5                    
No Merger of Judgment. The taking of a judgment on any covenant contained
herein or on any covenant set forth in any other security for payment of any
indebtedness hereunder or performance of the obligations hereby secured shall
not 

- 6 -

operate as a merger of any such covenant or affect the Lender’s
right to interest at the rate and times provided in this Agreement on any money
owing to the Lender under any covenant herein or therein set forth and such
judgment shall provide that interest thereon shall be calculated at the same
rate and in the same manner as herein provided until such judgment is fully paid
and satisfied.

6.6                    
Severability. If any one or more of the provisions of this Agreement
should be invalid, illegal or unenforceable in any respect in any jurisdiction,
the validity, legality or enforceability of such provision shall not in any way
be affected or impaired thereby in any other jurisdiction and the validity,
legality and enforceability of the remaining provisions contained herein shall
not in any way be affected or impaired thereby.

6.7                    
Successors and Assigns. This Agreement shall enure to the benefit of and
be binding upon all parties hereto and their respective successors and assigns,
as the case may be.

6.8                    
Governing Law. This Agreement shall be governed by and be construed in
accordance with the laws of the Province of Ontario.

6.9                    
Time. Time is of the essence of this Agreement.

6.10                  
Consent to Jurisdiction

	 	(a) 	
      The Borrower hereby irrevocably submits to the
      jurisdiction of any Ontario court sitting in Toronto, Ontario, in any
      action or proceeding arising out of or relating to this Agreement, and
      hereby irrevocably agrees that all claims in respect of any such action or
      proceeding may be heard and determined in such Ontario court. The Borrower
      hereby irrevocably waives, to the fullest extent it may effectively do so,
      the defence of an inconvenient forum to the maintenance of such action or
      proceeding. The Borrower agrees that a final judgement in any such action
      or proceeding shall be conclusive and may be enforced in other
      jurisdictions by suit on the judgment or in any other manner provided by
      law.

	 	 	 
	 	(b) 	
      Nothing in this Section shall affect the right of the
      Lender to serve legal process in any other manner permitted by law or
      affect the right of the Lender to bring any action or proceeding against
      the Borrower or its property in the courts of other
  jurisdictions.

6.11                  
Independent Legal Advice. This Agreement has been prepared by Northwest
Law Group acting solely on behalf of the Lender and the Borrower acknowledges
that it has been advised to obtain independent legal advice.

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6.12                  
Counterpart Execution. This Agreement may be executed in counterparts
which together shall form one and the same instrument.

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

ICP SOLAR TECHNOLOGIES INC. 
by its authorized
signatory:

 

	/s/ Sass M. Peress	 
	Sass M. Peress 	 
	Chief Executive Officer 	 
	  	 
	  	 
	FC FINANCIAL SERVICES INC. 	 
	by its authorized signatory: 	 
	  	 
	/s/ Terry Chebountchak 	 
	Terry Chebountchak 	 
	President 	 

SCHEDULE “A”

PROMISSORY NOTE

SCHEDULE “B”

GUARANTEE

SCHEDULE “C”

SHARE PLEDGE AGREEMENTFiled by Automated Filing Services Inc. (604) 609-0244 - FC Financial Services Inc. - Exhibit 10.3

SHARE PLEDGE AGREEMENT

This Agreement dated as of the 16 day of May, 2006.

MADE BY:

SASS PERESS and
PERESS FAMILY TRUST of 
287 Kindersley Avenue Montreal, Quebec
H3R 1R6

ARLENE ADES
of
6586 Mackle Rd., Cote St. Luc, Quebec H4W 3J9

JOEL COHEN of

  2800 Cote
Vertu, Montreal, Quebec H4R 2M5

(collectively the "Pledgors")

OF THE FIRST PART

TO AND IN FAVOUR OF:

FC FINANCIAL SERVICES
INC., of
110 Jardin Drive Suite 13-14 Concord, ON L4K 2T7

(the "Creditor")

OF THE SECOND PART

WHEREAS:

	A. 	
      ICP Solar Technologies Inc. (“ICP”) and the Creditor
        have entered into a loan agreement dated the 16th day of May, 2006 (the
        "Loan Agreement");

	 	 
	B. 	
      The Pledgors have guaranteed the obligations of ICP under
      the Loan Agreement pursuant to a limited recourse guarantee dated May 16,
      2006 ( The “Guarantee”), with the recourse of the Lender thereunder being
      limited to the shares pledged by the Pledgors under this Share Pledge
      Agreement as security for the obligations of the Pledgors under the
      Guarantee

NOW THEREFORE, in consideration of the foregoing premises, the
sum of $10.00 in lawful money of Canada now paid by the Creditor to the Pledgors
and other good and valuable consideration delivered by the Creditor to the
Pledgors, the receipt and sufficiency of which is hereby acknowledged by the
Pledgors, the Pledgors hereby agree as follows:

1.                      
Definitions

1.1                     In
this Agreement, the following terms shall have the meanings set forth below:

	 	(a) 	
      “Guarantee” means the guarantee made by the Pledgors
        in favour of the Creditor dated the date hereof;

	 	 	 
	 	(b) 	
      "Loan" means the loan advanced pursuant to the Loan
      Agreement;

	 	(c) 	
      "Obligations" means all obligations and indebtedness owed
      from time to time by the Pledgors to the Creditor pursuant to the
      Guarantee; 

	 	  	
       

	 	(d) 	
      "Pledged Shares" means the following securities:
  

3,064,291 common shares of ICP
represented by the following certificates:

	Certificate No. 	Number of Shares 
	  	  
	A-8 	5150 
	A-7 	531 
	A-6 	319 
	B-3 	4000 
	E-1 	3,054,291

2.                       
Share Pledge

2.1                      The
Pledgors do hereby assign, mortgage, charge, hypothecate, and pledge to the
Creditor the Pledged Shares and hereby deposit with the Creditor’s solicitors,
Northwest Law Group any and all present and after acquired security certificates
evidencing such Pledged Shares duly endorsed for transfer.

2.2                      The
Pledged Shares shall include any substitutions therefor, additions thereto or
proceeds thereof, arising out of any consolidation, subdivision,
reclassification, stock dividend, or similar increase or decrease in or
alteration of the capital of the issuer of the Pledged Shares (the
"Issuer").

2.3                      If
at any time any further or other securities or shares shall be deposited by the
Pledgors with the Creditor or its nominee in substitution for or in addition to
the Pledged Shares, such securities shall thereupon be deemed to be a part of
the Pledged Shares for the purposes of this Share Pledge Agreement and shall
forthwith become subject to all the terms hereof and the warranties contained
herein.

2.4                      If
the Pledgors acquire any certificates evidencing the Pledged Shares not already
delivered to the Creditor after the date hereof, the Pledgors will, forthwith
upon receipt by the Pledgors, deliver to the Creditor such certificates and
shall, at the request of the Creditor:

	 	(a) 	
      duly endorse the certificate(s) for transfer in blank,
      or

	 	 	 
	 	(b) 	
      duly endorse the certificate(s) for transfer in blank,
      signature guaranteed.

2.5                      The
Pledgors hereby covenant that they will pay or discharge to the Creditor all of
the Pledgors’ obligations under the Guarantee.

3.                      
 Obligations Secured

3.1                      The
assignments, mortgages, charges, hypothecation and pledges granted hereby
(collectively, the "Pledge") shall, until discharged, secure payment to the
Creditor of the Obligations.

2

4.                       
Attachments

4.1                      The
Pledgors and the Creditor hereby acknowledge that:

	 	(a) 	
      value has been given;

	 	 	 
	 	(b) 	
      the Pledgors have rights in the Pledged Shares;
  and

	 	 	 
	 	(c) 	
      they have not agreed to postpone the time of attachment
      of the Pledge.

5.                       
 Creditor's Care and Custody of Pledged Shares

5.1                     
The Creditor or its nominee shall not be bound to collect, dispose of, realize,
protect or enforce any of the Pledgors' right, title and interest in and to the
Pledged Shares, to institute proceedings for the purpose therefor or to take any
steps necessary to preserve rights against any other parties in respect
thereof.

5.2                     
The Creditor or its nominee need not see to the collection of dividends on or
exercise any option or right in connection with the Pledged Shares and need not
protect or preserve them from any loss of value and is hereby released from all
responsibility for loss of value.

6.                       
 Covenants of the Pledgors

6.1                     
The Pledgors shall not, without the prior written consent of the Creditor, sell,
exchange, release or abandon or otherwise dispose of, absolutely or by way of
security, any of its right, title or interest in and to the Pledged Shares.

6.2                      The
Pledgors shall promptly furnish to the Creditor on request such information in
respect of the Pledged Shares as the Creditor may from time to time require and
shall promptly notify the Creditor of the occurrence of any event or
circumstance which can be reasonably be foreseen and is likely to cause or
constitute a breach of the warranties, undertakings and agreements contained
herein.

7.                      
 Rights of the Pledgors

7.1                     
Until the Pledge has become enforceable, the Pledgors shall be entitled to vote
the Pledged Shares and to receive all cash dividends in respect thereof. In
order to allow the Pledgors to vote the Pledged Shares, the Creditor hereby
appoints the Pledgors as its true and lawful attorney for purposes of:

	 	(a) 	
      appointing proxy holders to attend and act at meetings of
      shareholders; and

	 	 	 
	 	(b) 	
      executing resolutions in writing and proxies, all
      pursuant to the relevant provisions of ICP's governing
  legislation.

7.2                      Whenever
the Pledge has become enforceable, all rights of the Pledgors to exercise the
voting and other rights or to receive the cash dividends shall cease, and all
such rights shall 

3

thereupon become vested solely and absolutely in the Creditor.
Any cash dividends received by the Pledgors contrary to this section or any
other moneys or other property which may be received by the Pledgors at any time
for or in respect of the Pledged Shares contrary to this section shall be
received in trust for the Creditor by the Pledgors and shall be forthwith paid
over to the Creditor.

8.                       
 Enforcement

8.1                      This
Share Pledge Agreement shall be and become enforceable five (5) days after the
Creditor has given notice to the Pledgors of the occurrence of:

	 	(a) 	
      any default by the Borrower in the due payment of the
      Loan or any instalment of principal or interest with respect thereof;
      or

	 	 	 
	 	(b) 	
      any default hereunder or under the Loan Agreement or in
      the performance of the Obligations.

8.2                      Whenever
this Share Pledge Agreement has become enforceable, the Creditor or its nominee
may at any time in its sole discretion, realize upon or otherwise dispose of or
contract to dispose of the Pledged Shares by sale, transfer or delivery or may
exercise and enforce all rights and remedies of a holder of the Pledged Shares
as if the Creditor were absolute owner thereof (including, if necessary, causing
the Pledged Shares to be registered in the name of the Creditor or its nominee),
without demand of performance or other demand, advertisement or notice of any
kind to or upon the Pledgors and any such remedy may be exercised separately or
in combination and shall be in addition to and not in substitution for any other
rights the Creditor may have, however created. The Creditor shall not be bound
to exercise any such right or remedy, and the exercise of such rights and
remedies shall be without prejudice to the rights of the Creditor in respect of
the Obligations including the right to claim for any deficiency.

8.3                      The
Pledgors hereby irrevocably appoint the Creditor or its nominee (and any officer
thereof) as attorney of the Pledgors (with full power of substitution) to
exercise in the name of and on behalf of the Pledgors any of the Pledgors’
rights (including the right of disposal), title and interest in and to the
Pledged Shares including the execution, endorsement, delivery and transfer of
the Pledged Shares to the Creditor, its nominees or transferees, and the
Creditor and its nominees or transferees are hereby empowered to exercise all
rights and powers and to perform all acts of ownership with respect to the
Pledged Shares to the same extent as the Pledgors might do. The power of
attorney herein granted is in addition to, and not in substitution for, any
stock power of attorney delivered by the Pledgors and such powers of attorney
may be relied upon by the Creditor severally or in combination. All acts of any
such attorney are hereby ratified and approved, and such attorney shall not be
liable for any act, failure to act or other any other matter or thing in
connection therewith, except for its own negligence or wilful misconduct.

8.4                      Without
limiting the generality of the foregoing, the Pledgors hereby irrevocably
authorizes the Creditor at any time after this Share Pledge Agreement becomes
enforceable to register the Pledged Shares or any of them in the name of the
Creditor or its nominee in the absolute discretion of the Creditor.

8.5                     
The Creditor shall not be obliged to exhaust its recourse against the Pledgors,
or any other person or persons or against any other security it may hold in
respect of the Obligations before realizing upon or otherwise dealing with the
Pledged Shares in such manner as the Creditor may consider desirable.

4

8.6                      The
Creditor may grant extensions or other indulgences, take and give up securities,
accept compositions, grant releases and discharges and otherwise deal with the
Pledgors and with other parties, sureties or securities as the Creditor may see
fit without prejudice to the Obligations or the rights of the Creditor in
respect of the Pledged Shares.

8.7                      Without
prejudice to the ability of the Creditor to dispose of the Pledged Shares in any
manner which is commercially reasonable, the Pledgors acknowledge that a
disposition of Pledged Shares by the Creditor which takes place substantially in
accordance with the following provisions shall be deemed to be commercially
reasonable:

	 	(a) 	
      Pledged Shares may be disposed in whole or in
  part;

	 	 	 
	 	(b) 	
      Pledged Shares may be disposed of by public sale, private
      contract or otherwise, with or without advertising and without any other
      formality;

	 	 	 
	 	(c) 	
      any purchaser of such Pledged Shares may be the Creditor
      or any parent, subsidiary, or affiliate of the Creditor, provided that
      such purchase is at fair market value

	 	 	 
	 	(d) 	
      any sale conducted by the Creditor shall be at such time
      and place, on such notice and in accordance with such procedures as the
      Creditor, in its sole discretion, may deem advantageous;

	 	 	 
	 	(f) 	
      a disposition of the Pledged Shares may be on such terms
      and condition as to credit or otherwise as the Creditor, in its sole
      discretion, may deem advantageous; and

	 	 	 
	 	(g) 	
      the Creditor may establish an upset or reserve bid or
      price in respect of the Pledged Shares.

8.8                      No
person dealing with the Creditor or its nominee or nominees or their agent or a
receiver shall be required:

	 	(a) 	
      to determine whether the Pledge has become
      enforceable;

	 	 	 
	 	(b) 	
      to determine whether the powers which the Creditor, its
      nominee or their agent is purporting to exercise have become
      exercisable;

	 	 	 
	 	(c) 	
      to determine whether any obligation remains due to the
      Creditor by the Pledgors;

	 	 	 
	 	(d) 	
      to determine the necessity or expediency of the
      stipulations and conditions subject to which any sale shall be
  made;

	 	 	 
	 	(e) 	
      to determine the propriety or regularity of any sale or
      of any other dealing by the Creditor or its nominee with the Pledged
      Shares; or

	 	 	 
	 	(f) 	
      to see to the application of any money paid to the
      Creditor.

8.9                     
Any purchaser of Pledged Shares from the Creditor shall hold the Pledged Shares
absolutely free from any claim or right of whatever kind, including any equity
of redemption, of the Pledgors, which they hereby specifically waive (to the
fullest extent permitted by law) as against any 

5

such purchaser, all rights of redemption, stay or appraisal
which the Pledgors have or may have under any rule of law or statute now
existing or hereafter adopted.

9.                      
 Representations and Warranties

9.1                      The
Pledgors do hereby represent, warrant and undertake to the Creditor that:

	 	(a) 	
      the Pledged Shares are now and will at all times be
      beneficially owned by the Pledgors free from any option, lien, charge,
      encumbrance, adverse claim or restriction of any kind;

	 	 	 
	 	(b) 	
      the execution and delivery of this Share Pledge Agreement
      has been duly authorized by all necessary action of the Pledgors and will
      not cause or constitute any breach or event of default under any provision
      of any trust deed, agreement or other instrument to which the Pledgors are
      a party or by which they are bound;

	 	 	 
	 	(c) 	
      all of the Pledged Shares are fully paid up and validly
      issued.

10.            
          Discharge

10.1                     The
Pledge shall be fully released and discharged upon, but only upon, payment in
full of the Loan and the Obligations.

10.2                     The
Creditor shall return to the Pledgors the share certificates and the power of
attorney upon a release and discharge of the Loan and the Obligations.

11.                      
Miscellaneous

11.1                    
No judgment recovered by the Creditor shall operate by way of merger of or in
any way affect the Pledge, which is in addition to and not in substitution for
any other security now or hereafter held by the Creditor in respect of the
Obligations.

11.2                    
No amendment, consent or waiver by the Creditor shall be effective unless made
in writing and signed by an authorized officer of the Creditor and then such
amendment, waiver or consent shall be effective only in the specific instance
and for the specific purpose for which given.

11.3                     The
Pledgors shall from time to time, whether before or after the Pledge shall have
become enforceable, do all such acts and things and execute and deliver all such
deeds, transfers, assignments, and instruments as the Creditor may reasonably
require for protecting the Pledged Shares or perfecting the Pledge and for
exercising all powers, authorities, and discretions hereby conferred upon the
Creditor, and the Pledgors shall, from time to time after the Pledge has become
enforceable do all such acts and things and execute and deliver all such deeds,
transfers, assignments and instruments as the Creditor may require for
facilitating the sale of the Pledged Shares in connection with any realization
thereof.

11.4                     This
Share Pledge Agreement shall be binding upon the Pledgors and their successors
and assigns, and shall enure to the benefit of the Creditor and its respective
successors 

6

and assigns. All rights of the Creditor hereunder shall be
assignable only after this Share Pledge Agreement has become enforceable by the
Creditor and in any action brought by an assignee to enforce any such rights,
the Pledgors shall not assert against such assignee any claim or defence which
the Pledgors now have or hereafter may have against the Creditor.

11.5                     The
division of this Share Pledge Agreement into articles, sections and subsections
and the insertion of headings are for convenience of reference only and shall
not affect the construction or interpretation thereof.

11.6                    
If any provision of this Share Pledge Agreement shall be deemed by any court of
competent jurisdiction to be invalid or void, the remaining provisions shall
remain in full force and effect.

11.7                     The
Pledgors acknowledge receipt of an executed copy of this Share Pledge Agreement
and waive all rights to receive from the Creditor a copy of any financing
statement, financing change statement or verification statement filed or created
at any time in respect of this Share Pledge Agreement.

11.8                     This
Share Pledge Agreement shall be governed by and construed in accordance with the
laws of the Province of Ontario and of Canada applicable therein.

11.9                     Any
notice, statement, demand or request herein required or permitted to be given by
any party hereto to the other shall be in writing and shall be deemed to have
been sufficiently and effectually given if signed by or on behalf of the party
giving the notice and delivered by hand or telecopied (with original to follow
concurrently by mail) to:

	the Pledgors at: 	287 Kindersley Avenue 
	  	Montreal, Quebec H3R 1R6 
	 	 
	  	Fax No. 514-221-4786 
	 	 
	the Creditor at: 	110 Jardin Drive, Suite 13-14 
	  	Concord, Ontario L4K 2T7 
	 	 
	  	Fax No. 905.761.1095 

Any notice telecopied shall be deemed to be received when sent
and duly received during normal business hours at the office set forth above.
Any notice delivered by hand shall be deemed to be received when left during
nominal business hours at the office set forth above. Any party referred to
above shall be entitled to change its address or telecopier

7

11.10                    This
Agreement has been prepared by Northwest Law Group acting solely on behalf of
the Creditor and the Pledgors acknowledge that they have been advised to obtain
independent legal advice.

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

	/s/ Sass M. Peress	 	/s/ Arlene Ades
	SASS M. PERESS 	 	ARLENE ADES 
	  	 	  
	  	 	  
	PERESS FAMILY TRUST 	 	  
	by its authorized signatory: 	 	  
	  	 	  
	  	 	  
	  	 	  
	 /s/ Sass
      M. Peress	 	/s/
      Joel Cohen 
	* 	 	JOEL COHEN 
	Trustee 	 	  
	  	 	  
	  	 	  
	FC FINANCIAL SERVICES INC. 	 	  
	by its authorized signatory: 	 	  
	  	 	  
	  	 	  
	  	 	  
	/s/ Taras Chebountchak
      	 	  
	Taras Chebountchak 	 	  
	President 	 	  

8

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