Document:

EXHIBIT 10.6

Principals
of Agreement

Inventek
Collodial Cleaners, LLC (hereinafter “Inventek”) and Green Earth Technologies,
Inc.

(hereinafter “GET”), (hereinafter the “Parties”)

February 1, 2008

WHEREAS, Inventek has
manufacturing capabilities for current and future products and GET has a Green
brand name, marketing and sales functions that are producing a stream of mass
retailer and original equipment manufacturers (OEM) purchase orders.
Additionally, GET has access to co-packing and distribution and, as a public company,
currently offers investors a public market for GET’s shares of common stock,
which are currently quoted for trading on the Pink Sheets Electronic Quotation
Service;

WHEREAS, Inventek has
invested in development, testing, materials and equipment and can produce eight
(8) products that GET has ready markets to sell. Also, Inventek and a stream
    of addition products that could access the mass retailer and OEM under the
GET brand name.

WHEREAS, GET requires an
infusion of working capital to support production of product for orders to
generate cash and Branding and Sell-through programs; and

WHEREAS, Inventek is
willing to supply GET with cash and credit on materials; 

NOW, THEREFORE, the
Parties agree as follows:

	
  

 	
  

 	
  

 
	
  

 	
 1.

 	
 Inventek shall enter
 into a strategic relationship with GET whereby Inventek shall grant GET a perpetual royalty free license and
 exclusive rights to global sales of the eight (8) products listed in Appendix
 C and to additional products as the Parties shall mutually agree, and
 Inventek shall produce products for GET under the extended terms of payments
 in Section 3 below.

 
	
  

 	
  

 	
  

 
	
  

 	
 2.

 	
 lnventek shall receive
 five million (5,000,000) shares of GET restricted common stock and a option
 to purchase an additional five million (5,000,000) restricted common shares
 for $0.20 a share. The option on the first one million two hundred and fifty
 thousand (1,250,000) common shares for $250,000 thereof shall be exercised in
 accordance with Section 7 below and the balance can be exercised in whole or
 part on or before December 31, 2008. The option to any remaining shares shall
 expire on January 1, 2009.

 
	
  

 	
  

 	
  

 
	
  

 	
 3.

 	
 Inventex shares and
 option shall be subject to an anti-dilution provision whereby additional
 shares or options shall be issued to Inventek on a pro rata basis if GET
 should sell securities or issue warrants for shares at a price of less than
 twenty cents ($0.20) per share to any entity other than GET’s employees or
 consultants or use of equity to purchase assets. In order to not prevent the
 Company from completing any financings of over twenty million ($20,000,000)
 the Company may, at its option, impose a blackouts during financing during
 which the options cannot be exercised and have the right to buy out any
 unexercised warrants prior to the financing at the average closing price for
 seven days prior to the purchase date to yield Inventek a twenty cent premium to that average price. Further,
 this anti-dilution right shall terminate upon migration of GET to trading on
 another exchange or market.

 
	
  

 	
  

 	
  

 
	
  

 	
  

 	
 GET, on the 15th day of each month, shall
 provide revise existing purchase orders to Inventek that are firm for sixty
 (60) days with an additional ninety (90) days forecasted. The initial
 purchase order, provided in Schedule B. GET pay invoices in cash when due at
 120 days for all products purchased from Inventek prior to April 30, 2008.
 Other invoices for product purchased after May, 2008 and prior to August
 31, 2008 shall be paid by GET at sixty (60) days and thereafter at thirty (30)
 days. The interest expense for all unpaid invoices unpaid for over 30-days shall
      be invoiced to GET monthly and paid monthly at the
 interest rate paid by Inventek. This initial and future orders are subject to
 the usual remedies and grace periods contained in a Distribution and Production
 Agreement contemplated to be part of the Definitive Agreement in Section 9 to
 deal with delays in production or acceptance or delays or cancellation of
 purchase orders.

 
	
  

 	
  

 	
  

 
	
  

 	
 4.

 	
 The initial price paid
 by GET per gallon for finished packaged goods is provided in Schedule C. The
 price paid by GET per gallon will be changed by mutual agreement of the
 Parties, if

 

1

	
  

 	
  

 	
  

 
	
  

 	
  

 	
 necessary, on the 15th day of each month on the occasion
 of providing new or revising existing purchase orders.

 
	
  

 	
  

 	
  

 
	
  

 	
 5.

 	
 Inventek and GET will work together to establish
 performance and analytical testing method procedures and reporting which
 shall be implemented to assure the quality and consistency of each product
 for continuity from one production lot to the next production lot.

 
	
  

 	
  

 	
  

 
	
  

 	
 6.

 	
 Inventek shall provide GET, for marketing
 purposes, the 3rd Party data and reports supporting the claims of
 Ultimate Biodegradability and 0,0,0,0 toxicity for each product. Also,
 Inventek and GET shall work together to provide blind testing data to
 demonstrate the performance of the eight (8) products compared to the
 performance of the nearest competitive products offered for sale in mass
 retailers.

 
	
  

 	
  

 	
  

 
	
  

 	
 7.

 	
 On February 4, 2008 Inventek shall partially
 exercise it option granted by GET in Section 2 and purchase 1,250,000
 restricted shares for the total price of two hundred and fifty thousand
 dollars ($250,000). Such sum will be wire transfered to GET’s account on
 February 4, 2008 and used exclusive for the purpose of supporting Branding
 and Sell-through programs of GET and the funds shall be under the control of
 Jeffery Loch who will provide Inventek with paid invoices to support the
 expenditure for that express purpose. The Branding and Sell-through Programs
 that qualify for payment are presented in Schedule A.

 
	
  

 	
  

 	
  

 
	
  

 	
 8.

 	
 The Definitive Agreement shall contain the usual
 terms of an exclusive global distribution and Purchase Agreement and a
 bi-lateral termination option for lack of performance by the Parties.

 
	
  

 	
  

 	
  

 
	
  

 	
 9.

 	
 This is the complete agreement and supersedes and
 replaces all previous written or verbal agreements. Except for Section 8,
 this agreement is a non-binding memorandum of proposed terms only; the
 transactions described herein shall be subject to negotiation, execution and
 delivery of definitive mutually satisfactory documentation.

 
	
  

 	
  

 	
  

 
	
  

 	
 10.

 	
 3rd Party maintains updated copy/video
 “back-up” information and instructions for formulation of base materials.

 
	
  

 	
  

 	
  

 
	
  

 	
 11.

 	
 Inventek commits to timely “build-out” of
 production capacity to meet the demand of GET’s customer base, including
 outsourcing of building materials and labor

 

IN WITNESS WHEREOF, the Parties have executed this
Principals of Agreement as of the date written below.

	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 
	
 Inventek Collodial
Cleaners, LLC 

 
	
  

 	
  

 
	
 /s/ Yasmin Andrecola

 	
  

 
	 

 	 

 	
  

 
	
 By: Yasmin Andrecola

 	
 Date: 

 	
 2-1-2008

 	
  

 	
  

 
	
  

 	
  

 	 

 	
  

 	
  

 	
  

 
	
 Title: President / CEO

 	
  

 
	
  

 	
  

 
	
 Green Earth
Technologies, Inc. 

 
	
  

 	
  

 	
  

 
	
 /s/ Mathew Zuckerman

 	
  

 	
  

 
	 

 	 

 	
  

 
	
 By: Mathew Zuckerman     

 	
 Date:

 	
 February 1, 2008

 	
  

 
	
  

 	
  

 	
 

 	
  

 
	
 Title: President / CEO

 	
  

 

2

Schedule A 

Branding and Sell-through Programs 

	
  

 
	
 Samples – Case Lots 

 
	
 Commercial
 Production

 
	
 TV

 
	
 Radio 

 
	
 In-store POS

 
	
 Aisles

 
	
 End –Caps 

 
	
 Promotions

 
	
 Management
 Fee

 
	
 Creative
 Concepts

 
	
 Scripting

 
	
 TV

 
	
 Radio

 
	
 Print Copy
 & Layout

 
	
 Media

 
	
 DRTV-Cable

 
	
 Personality Radio

 
	
 Print 

 
	
 Newspaper

 
	
 Magazine

 
	
 Online

 
	
 Search Engines

 
	
 Aggregated Ad Networks

 

3Exhibit 10.8

SECURED PROMISSORY NOTE

	
  

 	
  

 
	
           $300,000.00

 	
 Redding, Connecticut 

 
	
  

 	
 Dated: As of December 28, 2007

 

          FOR VALUE
RECEIVED, GREEN EARTH TECHNOLOGIES, INC. (“Borrower”) promises to pay to the
order of Simon Higgs (“Lender”), at 65-B Sunset Hill Road, Redding, CT 06896 or
at such other place as Lender may designate in writing the principal sum of
Three Hundred Thousand Dollars ($300,000.00), plus interest as hereinafter
provided, all in lawful money of the United States of America, in accordance
with the terms hereof. 

          The unpaid
principal balance of this secured promissory note (“Note”) shall bear interest
computed upon the basis of a year of 365 days for the actual number of days
elapsed in a month at a rate of five percent (5%) per month, compounding
annually (the “Effective Rate”).

          The entire
unpaid principal balance of this Note, together with all accrued and unpaid
interest, shall be immediately due and payable in full on the earlier of: (a)
the closing of the next round of financing (whether equity, debt or any
combination thereof) of Green Earth Technologies, Inc. in the amount of at
least $3,000,000; or (b) March 31, 2008. 

          This Note
may be paid in full or in part at any time without payment of any prepayment
fee or penalty. All payments received hereunder shall, at the option of Lender,
first be applied against accrued and unpaid interest and the balance against
principal. Borrower expressly assumes all risks of loss or delay in the
delivery of any payments made by mail, and no course of conduct or dealing
shall affect Borrower’s assumption of these risks.

          Upon the
occurrence of any of the following events of default (“Event of Default”): (a)
failure to make any payment of principal or interest when due under this Note;
(b) any “event of default” under that certain Stock Pledge Agreement, of even
date herewith, by and between Borrower and Lender; (c) Borrower’s failure
generally to pay debts as they mature, or the appointment of a receiver or
custodian over a material portion of Borrower’s assets, which receiver or
custodian is not discharged within sixty (60) days of such appointment; (d) any
voluntary bankruptcy or insolvency proceedings are commenced by Borrower, or
any involuntary bankruptcy or insolvency proceedings are commenced against
Borrower (which, in the case of involuntary proceedings are not set aside
within sixty (60) days from the date of institution thereof); or (e) any writ
of attachment, garnishment, execution, tax lien, or similar writ is issued
against any property of Borrower; then, at the election of Lender and without
notice, demand or presentment, the entire principal balance of this Note,
together with all accrued and unpaid interest, shall become immediately due and
payable. All costs and expenses of collection, including, without limitation,
reasonable attorneys fees and expenses, shall be added to and become part of
the total indebtedness.

          Upon the
occurrence and during the continuance of any Event of Default, the outstanding
principal amount hereof shall bear interest at a rate which is three percent
(3.0%) per annum greater than the Effective Rate otherwise applicable. 

          Acceptance
by Lender of any payment in an amount less than the amount then due shall be
deemed an acceptance on account only, and Borrower’s failure to pay the entire
amount then due shall be and continue to be a default. Upon the occurrence of
any default, neither the failure of Lender promptly to exercise its right to
declare the outstanding principal and accrued unpaid interest hereunder to be
immediately due and payable, nor the failure of Lender to demand strict
performance of any other obligation of Borrower or any other person who may be
liable

hereunder, shall constitute a waiver of any such rights, nor a waiver
of such rights in connection with any future default on the part of the
Borrower or any other person who may be liable hereunder.

          Borrower
and all endorsees, sureties and guarantors hereof hereby jointly and severally
waive presentment for payment, demand, notice of non-payment, notice of protest
or protest of this Note, and Lender diligence in collection or bringing suit,
and do hereby consent to any and all extensions of time, renewals, waivers or
modifications as may be granted by Lender with respect to payment or any other
provisions of this Note. The liability of Borrower under this Note shall be
absolute and unconditional, without regard to the liability of any other party.

          Notwithstanding
anything herein to the contrary, in no event shall Borrower be required to pay
a rate of interest in excess of the Maximum Rate. The term “Maximum Rate” shall
mean the maximum non-usurious rate of interest that Lender is allowed to
contract for, charge, take, reserve or receive under the applicable laws of any
applicable state or of the United States of America (whichever from time to
time permits the highest rate for the use, forbearance or detention of money)
after taking into account, to the extent required by applicable law, any and
all relevant payments or charges hereunder, or under any other document or
instrument executed and delivered in connection therewith and the indebtedness
evidenced hereby. 

          In the
event Lender ever receives, as interest, any amount in excess of the Maximum
Rate, such amount as would be excessive interest shall be deemed a partial
prepayment of principal, and, if the principal hereof is paid in full, any
remaining excess shall be returned to Borrower. In determining whether or not
the interest paid or payable, under any specified contingency, exceeds the
Maximum Rate, Borrower and Lender shall, to the maximum extent permitted by
law, (a) characterize any non-principal payment as an expense, fee, or premium
rather than as interest; (b) exclude voluntary prepayments and the effects
thereof; and (c) amortize, prorate, allocate and spread the total amount of
interest through the entire contemplated term of such indebtedness until
payment in full of the principal (including the period of any extension or
renewal thereof) so that the interest on account of such indebtedness shall not
exceed the Maximum Rate. If Lender shall determine that the Effective Rate
under this Note is usurious or otherwise limited by law, the unpaid balance of
this Note, with accrued interest at the Maximum Rate, shall, at the option of
Lender, become immediately due and payable.

          This Note
is secured by a Stock Pledge Agreement, of even date herewith.

          This Note
shall be binding upon Borrower and his successors and assigns, and the benefits
hereof shall inure to Lender and its successors and assigns. This Note has been
executed in the State of Connecticut, and all rights and obligations hereunder
shall be governed by the laws of the State of Connecticut (without regard to
its conflicts of laws principles). 

	
  

 	
  

 	
  

 
	
  

 	
 BORROWER: 

 
	
  

 	
  

 
	
  

 	
  

 
	
  

 	 

 
	
  

 	
 GREEN EARTH TECHNOLOGIES, INC. 

 
	
  

 	
  

 
	
  

 	
 By:

 	
  

 
	
  

 	
  

 	 

 
	
  

 	
  

 	
  

 
	
  

 	
 Its:

 	
  

 
	
  

 	
  

 	 

 

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