Document:

THIS
      SECURED CONVERTIBLE DEBENTURE AND THE SECURITIES INTO WHICH THIS DEBENTURE
      IS
      CONVERTIBLE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS
      AMENDED, OR ANY STATE SECURITIES LAWS AND THIS SECURED CONVERTIBLE DEBENTURE,
      THE SECURITIES AND ANY INTEREST THEREIN MAY NOT BE OFFERED, SOLD, TRANSFERRED,
      PLEDGED OR OTHERWISE DISPOSED OF EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION
      STATEMENT UNDER SUCH ACT OR SUCH LAWS OR AN EXEMPTION FROM REGISTRATION UNDER
      SUCH ACT AND SUCH LAWS, WHICH, IN THE OPINION OF COUNSEL FOR THE LENDER, WHICH
      COUNSEL AND OPINION ARE REASONABLY SATISFACTORY TO COUNSEL FOR THIS CORPORATION,
      IS AVAILABLE. 

    

    INFOSMART
      GROUP, INC.

    SECURED
      CONVERTIBLE DEBENTURE

    

    
      	
              Issue
                Amount: $_____

            	
              New
                York, New York     

            
	 	
              September
                __, 2008

            

    

    

    FOR
      VALUE
      RECEIVED, the undersigned, Infosmart Group, Inc., a California corporation
      (referred to herein as the “Company”), with a business address at 5th
      Floor,
      QPL Industrial Building, 126-140 Texaco Road, Tsuen Wan, Hong Kong, hereby
      unconditionally promises to pay to the order of _____, its endorsees, successors
      and/or assigns (the “Lender”), in lawful money of the United States, at 1400 Old
      Country Road, Suite 206, Westbury, New York 11590, or such other address as
      the
      Lender may from time to time designate, the principal sum of _____ ($_____)
      (the
“Issue Amount”). This Debenture shall mature and become due and payable in full
      on September 1, 2010 (the “Maturity Date”).

     

    1. Original
      Issue Discount.
      The
      Lender shall purchase this Debenture at a price equal to 80% of the Original
      Issue Amount. 

     

    2. Terms
      of Repayment.
      Principal of and interest on this Debenture shall be paid by the Company as
      follows:

     

    (a) Interest
      at the rate of twelve percent (12%) per annum from the date hereof through
      the
      Maturity Date shall be paid monthly by the Company in cash or, at the sole
      option of the Company, in registered shares of the Company’s common stock, no
      par value (“Common Stock”) at the average closing bid price of the Common Stock
      for the five (5) trading days immediately preceding the payment date (the “5
      Trading Day Price”). 

     

    (b) Principal
      shall be due and payable beginning on June 1, 2009 and shall be paid monthly
      in
      15 equal installments. Each payment of principal shall be made in cash at a
      10%
      premium or, at the sole option of the Company, in registered Common Stock at
      a
      price of the lower of (x) a 15% discount to the 5 Trading Day Price or (y)
      the
      Fixed Conversion Price, as defined below. The Company shall only be entitled
      to
      pay in common stock if on the date the monthly principal payment is due: (i)
      the
      Company has an average daily trading dollar volume of $150,000 for the prior
      ten
      (10) trading days; and (ii) the average closing bid price for the prior ten
      (10)
      trading days is greater than $0.10 per share.

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    (c) The
      Company further agrees that, if any payment made by the Company or any other
      person is applied to this Debenture and is at any time annulled, set aside,
      rescinded, invalidated, declared to be fraudulent or preferential or otherwise
      required to be refunded or repaid, or the proceeds of any property hereafter
      pledged as security for this Debenture is required to be returned by Lender
      to
      the Company, its estate, trustee, receiver or any other party, including,
      without limitation, under any bankruptcy law, state or federal law, common
      law
      or equitable cause, then, to the extent of such payment or repayment, the
      Company’s liability hereunder (and any lien, security interest or other
      collateral securing such liability) shall be and remain in full force and
      effect, as fully as if such payment had never been made, or, if prior thereto
      any such lien, security interest or other collateral hereunder securing the
      Company’s liability hereunder shall have been released or terminated by virtue
      of such cancellation or surrender, this Debenture (and such lien, security
      interest or other collateral) shall be reinstated in full force and effect,
      and
      such prior cancellation or surrender shall not diminish, release, discharge,
      impair or otherwise affect the obligations of the Company in respect to the
      amount of such payment (or any lien, security interest or other collateral
      securing such obligation). 

     

    (d) All
      computations of interest shall be made by Lender on the basis of a year of
      360
      days for the actual number of days (including the first day but excluding the
      last day) occurring in the period for which such interest is payable. Whenever
      any payment to be made hereunder shall be stated to be due on a day which is
      not
      a business day, such payment shall be made on the next succeeding day and such
      extension of time shall in such case be included in the computation of payment
      of interest. 

     

    (e) The
      Company may prepay all or any part of the outstanding principal amount of this
      Debenture, together with interest accrued, if any, excluding the interest that
      was prepaid as described in Section 1 (a) above on the amount prepaid through
      the date of prepayment, plus a premium, upon not fewer than ten (10) trading
      days’ prior written notice to the Lender. In the event such prepayment occurs
      prior to a registration statement has been declared effective for the Lender’s
      interest shares, warrants and common stock issuable on conversion of the
      Debentures, the amount paid shall be 125% of the prepaid principal plus any
      accrued interest. 

     

    3. Conversion.

     

    (a) The
      Lender shall have the option, at any time on or before the Maturity Date, to
      convert the outstanding principal of this Debenture into fully-paid and
      nonassessable shares of Company’s Common Stock at the rate per share equal to
      the lowest of (i) the Fixed Conversion Price, (ii) the Lowest Fixed Conversion
      Price or (iii) the Default Conversion Price (the "Conversion Rate"). As used
      herein, the following terms have the following meanings: 

     

    
      	 	
              (i)

            	
              “Fixed
                Conversion Price” means $0.262 per share.

            

    

     

    
      	 	
              (ii)

            	
              “Lowest
                Fixed Conversion Price” means the lowest price, conversion price or
                exercise price set by the Company in any equity financing transaction,
                convertible security, or derivative instrument issued after the date
                hereof in a “New Transaction.” The term “New Transaction” as used in this
                Debenture and in any other Transaction Document, means any financing
                transaction consummated directly or indirectly by the Company with
                parties
                other than the Lender involving issuance of Common Stock or other
                securities convertible into or exercisable for Common Stock; provided,
                however, that the following share issuances shall not be deemed a
                New
                Transaction: (i) issuances pursuant to Employee Stock Ownership Plans;
                or
                (ii) issuance of stock options or warrants to employees, officers,
                or
                directors pursuant to compensation arrangements approved by the Company’s
                Board of Directors.

            

    

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

    
      	 	
              (iii)

            	
              “Default
                Conversion Price” means (if and so long as there exists an Event of
                Default hereunder) 70% of the average of the three lowest closing
                prices
                of the Common Stock during the twenty (20) day trading period immediately
                prior to a notice of conversion. 

            

    

     

    (b) If,
      but
      only if, a registration statement under the Securities Act of 1933, as amended,
      is effective covering sales of the Common Stock issuable upon exercise of this
      Debenture or if Lender may sell the shares issuable upon exercise of this
      Debenture pursuant to Rule 144 of the rules and regulations promulgated under
      the Securities Act of 1933, as amended (“Rule 144”), then the Company may
      require the Lender to convert the remaining principal amount outstanding if:
      (i)
      the Fair Market Value of the Common Stock for at least the immediately preceding
      ten consecutive trading days prior to delivery of a Company Conversion Notice
      (defined below) is at least 150% of the Conversion Rate in effect on the date
      of
      such Notice; and (ii) the average volume during such ten (10) day period is
      at
      least 500,000 shares per day, then the Company may send a notice (the "Company
      Conversion Notice") to the Lender requiring them to convert any portion of
      their
      notes that remain outstanding at that time.

     

    In
      the
      event such registration statement for any reason, whether by stop order, lapse
      of time or other event, becomes ineffective or otherwise unavailable for the
      sale of the Common Stock issuable upon conversion of this Debenture at any
      time
      within ninety (90) days after such conversion unless Lender can sell the shares
      issuable upon conversion of this Debenture pursuant to Rule 144, the Lender
      may
      deem the conversion null and void and the Company shall, upon request of the
      Lender and receipt of any stock certificates held by the Lender evidencing
      shares issued upon such conversion, reissue this Debenture for the remaining
      principal amount and pay any principal that would have been payable during
      such
      period, all as if such conversion had not occurred. 

     

    To
      exercise any conversion, the holder of this Debenture, either upon its own
      election or following receipt of the Company Conversion Notice, shall surrender
      the original Debenture to the Company during usual business hours at the offices
      of the Company, accompanied by a Notice of Conversion in the form attached
      hereto as Exhibit A.

     

    (c) As
      promptly as practicable after the surrender of this Debenture by the Lender,
      the
      Company shall deliver or cause to be delivered to the Lender, certificates
      for
      the full number of Shares issuable upon conversion of this Debenture, in
      accordance with the provisions hereof, together with a duly executed new
      Debenture of the Company in the form of this Debenture for any principal amount
      not so converted. Such conversion shall be deemed to have been made at the
      time
      that this Debenture was surrendered for conversion and the notice specified
      herein shall have been received by the Company. If, however, the Company fails
      to deliver the full number of shares due upon any conversion within five (5)
      days following the demand of conversion, the Company shall pay liquidated
      damages in cash equal to $1,500 per day for each day the Shares are not
      delivered to the Lender.

     

    (d) The
      number of shares issuable upon conversion of this Debenture or repayment by
      the
      Company in shares shall be proportionately adjusted if the Company shall declare
      a dividend of capital stock on its capital stock, or subdivide its outstanding
      capital stock into a larger number of shares by reclassification, stock split
      or
      otherwise, which adjustment shall be made effective immediately after the record
      date in the case of a dividend, and immediately after the effective date in
      the
      case of a subdivision. The number of shares issuable upon conversion of this
      Debenture or any part thereof shall be proportionately adjusted in the amount
      of
      securities for which the shares have been changed or exchanged in another
      transaction for other stock or securities, cash and/or any other property
      pursuant to a merger, consolidation or other combination. The Company shall
      promptly provide the holder of this Debenture with notice of any events
      mandating an adjustment to the conversion ratio, or for any planned merger,
      consolidation, share exchange or sale of the Company, signed by the President
      and Chief Executive Officer of Company. 

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

    (e) Percentage
      Cap.
      Notwithstanding the provisions of this Debenture, in no event (except (i) as
      specifically provided in the Debenture as an exception to this provision, (ii)
      during the forty-five (45) day period prior to the Maturity Date, or (iii)
      while
      there is outstanding a tender offer for any or all of the shares of the
      Company's Common Stock) shall the Lender be entitled to convert this Debenture,
      or the Company have the obligation or option to issue shares upon such
      conversion or in lieu of cash payments hereunder, to the extent that, after
      such
      conversion or issuance the sum of (1) the number of shares of Common Stock
      beneficially owned by the Lender and its affiliates, and (2) the number of
      shares of Common Stock issuable upon the conversion of the Debenture with
      respect to which the determination of the proviso is being made, would result
      in
      beneficial ownership by the Lender and its affiliates of more than 4.99% (the
      "Percentage Cap") of the outstanding shares of Common Stock (after taking into
      account the shares to be issued to the Lender upon such conversion). For
      purposes of the proviso to the immediately preceding sentence, beneficial
      ownership shall be determined in accordance with Section 12(d) of the Securities
      Exchange Act of 1934, as amended.

     

    4. Liability
      of the Company.
      The
      Company is unconditionally, and without regard to the liability of any other
      person, liable for the payment and performance of this Debenture and such
      liability shall not be affected by an extension of time, renewal, waiver, or
      modification of this Debenture or the release, substitution, or addition of
      collateral for this Debenture. Each person signing this Debenture consents
      to
      any and all extensions of time, renewals, waivers, or modifications, as well
      as
      to release, substitution, or addition of guarantors or collateral security,
      without affecting the Company’s liabilities hereunder. Lender is entitled to the
      benefits of any collateral agreement, guarantee, security agreement, assignment,
      or any other documents which may be related to or are applicable to the debt
      evidenced by this Debenture, all of which are collectively referred to as “Loan
      Documents” as they now exist, may exist in the future, have existed, and as they
      may be amended, modified, renewed, or substituted. 

     

    5. Representations
      and Warranties.
      The
      Company represents and warrants as follows: 

     

    
      	 	
              (i)

            	
              the
                Company is a corporation duly organized, validly existing and in
                good
                standing under the laws of the State of
                California;

            

    

     

    
      	 	
              (ii)

            	
              the
                execution, delivery and performance by the Company of this Debenture
                are
                within the Company's powers, have been duly authorized by all necessary
                action, and do not contravene: (A) the Company's Articles of Incorporation
                or by-laws; or (B) any law or agreement or document binding on or
                affecting the Company;

            

    

     

    
      	 	
              (iii)

            	
              other
                than has been previously obtained, no other authorization or approval
                or
                other action by, and no notice to or filing with, any governmental
                authority, regulatory body or third person is required for the due
                execution, delivery and performance by the Company of this Debenture;
                

            

    

     

    
      	 	
              (iv)

            	
              this
                Debenture constitutes the legal, valid and binding obligation of
                the
                Company, enforceable against the Company in accordance with its terms
                except as enforcement hereof may be limited by bankruptcy, insolvency
                or
                other similar laws affecting the enforcement of creditors' rights
                generally and subject to the applicability of general principles
                of
                equity; 

            

    

     

    
      	 	
              (v)

            	
              the
                Company has all requisite power and authority to own and operate
                its
                property and assets and to conduct its business as now conducted
                and
                proposed to be conducted and to consummate the transactions contemplated
                hereby; 

            

    

     

    
      	 	
              (vi)

            	
              the
                Company is duly qualified to conduct its business and is in good
                standing
                in each jurisdiction in which the character of the properties owned
                or
                leased by it, or in which the transaction of its business makes such
                qualification necessary; 

            

    

    
      
        
        

      

      
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              (vii)

            	
              to
                the Company’s knowledge, there is no pending or threatened action or
                proceeding affecting the Company before any governmental agency or
                arbitrator which challenges or relates to this Debenture or which
                may
                otherwise have a material adverse effect on the Company;
                

            

    

     

    
      	 	
              (viii)

            	
              after
                giving effect to the transactions contemplated by this Debenture,
                the
                Company is Solvent; 

            

    

     

    
      	 	
              (ix)

            	
              the
                Company is not in violation or default of any provision of its Articles
                of
                Incorporation or by-laws, each as currently in effect, or any instrument,
                judgment, order, writ, decree or contract, statute, rule or regulation
                to
                which the Company is subject;

            

    

     

    
      	 	
              (x)

            	
              this
                Debenture is validly issued, free of any taxes, liens, and encumbrances
                related to the issuance, other than the holder of the current debt
                issued
                in connection with the initial plant, hereof and is not subject to
                preemptive right or other similar right of members of the Company;
                and
                

            

    

     

    
      	 	
              (xi)

            	
              the
                Company has taken all required action to reserve for issuance such
                number
                of shares of Common Stock as may be issuable from time to time upon
                conversion of this Debenture. 

            

    

     

    6. Covenants.
      So long
      as any principal or interest is due hereunder and shall remain unpaid, the
      Company will, unless the Lender shall otherwise consent in writing:

     

    (a) Maintain
      and preserve its existence, rights and privileges; 

     

    (b) Other
      than: (i) bank debt, whether existing as of the date of this Agreement or
      accumulated in the future, in the aggregate amount of $12,000,000, except as
      otherwise permitted in the Transaction Documents; and (ii) any financing
      arrangements not prohibited by the Transaction Documents and that are not senior
      to the Lenders’ interests, the Company will not incur any indebtedness, other
      than indebtedness incurred in the ordinary course of business or outstanding
      on
      the date hereof, unless such indebtedness is subordinated to the prior payment
      in full of this Debenture on terms reasonably satisfactory to the Lender;

     

    (c) Not:
      (i)
      directly or indirectly sell, lease or otherwise dispose of all or substantially
      all of its property or assets other than in its ordinary course of business,
      in
      the aggregate, to any person(s), whether in one transaction or in a series
      of
      transactions over any period of time; (ii) merge into, with or consolidate
      with
      any other person, whereby such other person acquires more than 50% of the
      outstanding shares of Common Stock (not including any shares of Common Stock
      held by the other person or other persons making or party to, or associated
      or
      affiliated with the other persons making or party to, such merger or other
      business combination) or whereby any “person” is or shall become the “beneficial
      owner” (as defined in Rule 13d-3 under the Exchange Act), directly or
      indirectly, of 50% of the aggregate ordinary voting power represented by issued
      and outstanding Common Stock ; or (iii) adopt any plan or arrangement for the
      dissolution or liquidation of the Company; 

     

    (d) Give
      written notice to Lender upon the occurrence of an Event of Default (as defined
      below) within five (5) Business Days of such event; 

     

    (e) Not
      use
      the proceeds from the issuance of this Debenture in any way for any purpose
      that
      entails a violation of, or is inconsistent with, Regulation U of the Board
      of
      Governors of the Federal Reserve System of the United States of
      America;

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

    (f) Comply
      in
      all material respects with all applicable laws (whether federal, state or local
      and whether statutory, administrative or judicial or other) and with every
      applicable lawful governmental order (whether administrative or judicial).
      

     

    (g) Not
      redeem or repurchase any of its capital stock;  

     

    (h)
       Not
      make
      any advance or loan to any person, firm or corporation, except for reasonable
      travel or business expenses advanced in the ordinary course of business;
      and

     

    (j) Not
      take
      any action which would impair the rights and privileges of this Debenture set
      forth herein or the rights and privileges of the holder of this Debenture.
      

     

    7. Events
      of Default.
      Each
      and any of the following shall constitute a default and, after the Lender
      provides notice to the Company of a default and such default is not cured within
      the earlier to occur of (A) 5 trading days after notice of such failure sent
      by
      the Lender and (B) 10 trading days after the Company has become or should have
      become aware of such failure, shall constitute an “Event of Default”
hereunder:

     

    (a) the
      nonpayment of principal, late charges or any other costs or expenses promptly
      when due of any amount payable under this Debenture or the nonpayment by the
      Company of any other obligation to the Lender;

     

    (b) any
      default under any material provision of this Debenture (other than a payment
      default described above);

     

    (c) any
      failure of the Company to observe or perform any present or future agreement
      of
      any nature whatsoever with Lender, including, without limitation, any covenant
      set forth in this Debenture;

     

    (d) if
      Company shall commence any case, proceeding or other action: (i) under any
      existing or future law of any jurisdiction, domestic or foreign, relating to
      bankruptcy, insolvency, reorganization or relief of debtors, seeking to have
      an
      order for relief entered with respect to it, or seeking to adjudicate it
      bankrupt or insolvent, or seeking reorganization, arrangement, adjustment,
      liquidation, dissolution, composition or other relief with respect to it or
      its
      debts; or (ii) seeking appointment of a receiver, trustee, custodian or other
      similar official for it or for all or any substantial part of its property,
      or
      the Company shall make a general assignment for the benefit of its creditors;
      or
      (iii) there shall be commenced against the Company any case, proceeding or
      other
      action of a nature referred to above or seeking issuance of a warrant of
      attachment, execution, distraint or similar process against all or any
      substantial part of its property, which case, proceeding or other action results
      in the entry of any order for relief or remains undismissed, undischarged or
      unbonded for a period of sixty (60) days; or (iii) the Company shall take any
      action indicating its consent to, approval of, or acquiescence in, or in
      furtherance of, any of the acts set forth; or (iv) the Company shall generally
      not, or shall be unable to, pay its debts as they become due or shall admit
      in
      writing its inability to pay its debts; 

     

    (e) any
      representation or warranty made by the Company or any other person or entity
      under this Debenture or under any other Loan Documents shall prove to have
      been
      incorrect in any material respect when made;

     

    (f) an
      event
      of default, which has not been waived or cured, or a default shall occur and
      be
      continuing under any other material agreement, document or instrument binding
      upon the Company resulting in a liability in excess of one hundred thousand
      dollars ($100,000) (whether or not any such event of default or default is
      waived by the holder thereof) and including, without limitation, under any
      other
      Transaction Document (as defined in the Securities Purchase
      Agreement);

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

    (g) the
      entry
      of any final judgment against the Company or any of its property for an amount
      in excess of one hundred thousand dollars ($100,000) that remains unsatisfied
      for thirty (30) days; or

     

    (h) the
      sale
      of all or substantially all of the assets, or change in ownership or the
      dissolution, liquidation, merger, or consolidation of the Company without the
      Lender’s written consent. 

     

    8. Lender’s
      Rights Upon Default.
      Upon
      the occurrence of any Event of Default, the Lender may, at its sole and
      exclusive option, do any or all of the following, either concurrently or
      separately: (a) accelerate the maturity of this Debenture and demand immediate
      payment in full, whereupon the outstanding principal amount of the Debenture
      and
      all obligations of Company to Lender, together with accrued interest thereon
      and
      accrued charges and costs, shall become immediately due and payable without
      presentment, demand, protest or further notice of any kind, all of which are
      hereby expressly waived; and (b) exercise all legally available rights and
      privileges.

     

    9. Default
      Interest Rate.
      Upon an
      Event of Default, without any further action on the part of Lender, interest
      will thereafter accrue at the rate of eighteen percent (18%) per annum (the
      “Default Rate”), until all outstanding principal, interest and fees are repaid
      in full by Company.

     

    10. Usury.
      In no
      event shall the amount of interest paid or agreed to be paid hereunder exceed
      the highest lawful rate permissible under applicable law. Any excess amount
      of
      deemed interest shall be null and void and shall not interfere with or affect
      the Company’s obligation to repay the principal of and interest on the
      Debenture. This confirms that the Company and, by its acceptance of this
      Debenture, the Lender intend to contract in strict compliance with applicable
      usury laws from time to time in effect. Accordingly, the Company and the Lender
      stipulate and agree that none of the terms and provisions contained herein
      shall
      ever be construed to create a contract to pay, for the use or forbearance of
      money, interest in excess of the maximum amount of interest permitted to be
      charged by applicable law from time to time in effect.

     

    11. No
      Prepayment.
      This
      Debenture may not be prepaid in whole or in part, at any time, without the
      prior
      written consent of the Lender, except pursuant to the provisions of section
      2(e).

     

    12. Costs
      of Enforcement.
      Company
      hereby covenants and agrees to indemnify, defend and hold Lender harmless from
      and against all costs and expenses, including reasonable attorneys’ fees and
      their costs, together with interest thereon at the prime rate, incurred by
      Lender in enforcing its rights under this Debenture; or if Lender is made a
      party as a defendant in any action or proceeding arising out of or in connection
      with its status as a lender, or if Lender is requested to respond to any
      subpoena or other legal process issued in connection with this Debenture; or
      reasonable disbursements arising out of any costs and expenses, including
      reasonable attorneys’ fees and their costs incurred in any bankruptcy case; or
      for any legal or appraisal reviews, advice or counsel performed for Lender
      following a request by Company for waiver, modification or amendment of this
      Debenture or any of the other Loan Documents.

     

    13. Governing
      Law.
      This
      Debenture shall be binding upon and inure to the benefit of the Company and
      the
      Lender and their respective successors and assigns; provided that the Company
      may not assign this Debenture, in whole or in part, by operation of law or
      otherwise, without the prior written consent of the Lender. The Lender may
      assign or otherwise participate out all or part of, or any interest in, its
      rights and benefits hereunder and to the extent of such assignment or
      participation such assignee shall have the same rights and benefits against
      the
      Company as it would have had if it were the Lender. This Debenture, and any
      claims arising out of or relating to this Debenture, whether in contract or
      tort, statutory or common law, shall be governed exclusively by, and construed
      in accordance with the laws of the State of New York without regard to
      principles of conflicts of laws. 

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

    14. Jurisdiction.
      THE
      COMPANY CONSENTS THAT ANY LEGAL ACTION OR PROCEEDING AGAINST IT UNDER, ARISING
      OUT OF OR IN ANY MANNER RELATING TO THIS DEBENTURE, OR ANY OTHER INSTRUMENT
      OR
      DOCUMENT EXECUTED AND DELIVERED IN CONNECTION HEREWITH SHALL BE BROUGHT
      EXCLUSIVELY IN ANY COURT OF THE STATE OF NEW YORK OR IN THE UNITED STATES
      DISTRICT COURT FOR THE EASTERN DISTRICT OF NEW YORK, IN EACH CASE, IN THE COUNTY
      OF NASSAU. THE COMPANY, BY THE EXECUTION AND DELIVERY OF THIS DEBENTURE,
      EXPRESSLY AND IRREVOCABLY CONSENTS AND SUBMITS TO THE PERSONAL JURISDICTION
      OF
      ANY OF SUCH COURTS IN ANY SUCH ACTION OR PROCEEDINGS. THE COMPANY AGREES THAT
      PERSONAL JURISDICTION OVER IT MAY BE OBTAINED BY THE DELIVERY OF A SUMMONS
      BY
      PERSONAL DELIVERY OR OVERNIGHT COURIER AT THE ADDRESS PROVIDED IN SECTION 16
      OF
      THIS DEBENTURE. ASSUMING DELIVERY OF THE SUMMONS IN ACCORDANCE WITH THIS
      PROVISION, THE COMPANY HEREBY EXPRESSLY AND IRREVOCABLY WAIVES ANY ALLEGED
      LACK
      OF PERSONAL JURISDICTION, IMPROPER VENUE OF FORUM NON CONVENIENS OR ANY SIMILAR
      BASIS.

     

    15. Miscellaneous.
      

     

    (a)
      Company hereby waives protest, notice of protest, presentment, dishonor, and
      demand. 

     

    (b)
      Time
      is of the essence for each of Company’s covenants under this Debenture.

     

    (c)
      The
      rights and privileges of Lender under this Debenture shall inure to the benefit
      of its successors and assigns. All obligations of Company in connection with
      this Debenture shall bind Company’s successors and assigns, and Lender’s
      conversion rights shall succeed to any successor securities to Company’s common
      stock. 

     

    (d)
      If
      any provision of this Debenture shall for any reason be held to be invalid
      or
      unenforceable, such invalidity or unenforceability shall not affect any other
      provision hereof, but this Debenture shall be construed as if such invalid
      or
      unenforceable provision had never been contained herein. 

     

    (e)
      The
      waiver of any Event of Default or the failure of Lender to exercise any right
      or
      remedy to which it may be entitled shall not be deemed a waiver of any
      subsequent Event of Default or Lender’s right to exercise that or any other
      right or remedy to which Lender is entitled. No delay or omission by Lender
      in
      exercising, or failure by Lender to exercise on any one or more occasions,
      shall
      be construed as a waiver or novation of this Debenture or prevent the subsequent
      exercise of any or all such rights. 

     

    (f)
      This
      Debenture may not be waived, changed, modified, or discharged orally, but only
      in writing. 

     

    16. Notice,
      Etc.
      Any
      notice required by the provisions of this Debenture will be in writing and
      will
      be deemed effectively given: (a) upon personal delivery to the party to be
      notified; (b) when sent by confirmed telex or facsimile if sent during normal
      business hours of the recipient; if not, then on the next business day; (c)
      five
      (5) days after having been sent by registered or certified mail, return receipt
      requested, postage prepaid; or (d) one (1) day after deposit with a nationally
      recognized overnight courier, specifying next day delivery, with written
      verification of receipt, and delivered as follows: 

     

    If
      to the
      Company: 

    

    Infosmart
      Group, Inc.

    5th
      Floor,
      QPL Industrial Building

    126-140
      Texaco Road

    Tsuen
      Wan, Hong Kong

    
      
        
        

      

      
        8

        
          

        

      

      
        
        

      

    

    With
      a
      copy to: 

    

    Richardson
      & Patel, LLP

    10900
      Wilshire Blvd., Suite 500

    Los
      Angeles, California 90024-6525

    Attn:
      Kevin Leung

    Telephone:
      (310) 208-1182

    Facsimile:
      (310) 208-1154

    

    If
      to
      Lender: 

    

    _____

    

    With
      a
      copy to: 

    

    Anslow
      & Jaclin, LLP 

    195
      Route
      9 South, Suite 204

    Manalapan,
      New Jersey 07726

    Attention:
      Eric Stein

    Phone
      Number (732) 409-1212

    Facsimile
      Number: (732) 577-1188

    

    or,
      as to
      each party, at such other address as shall be designated by such party in a
      written notice to the other parties.

     

    17. Definitions.
      As used
      herein, the following terms shall have the meaning ascribed to them below,
      and
      all other capitalized terms not otherwise defined herein shall have the meaning
      ascribed to them in the Securities Purchase Agreement:

     

    (a) "Solvent"
      shall mean, with respect to any person or entity on a particular date, that
      on
      such date: (i) the fair value of the property of such person or entity is not
      less than the total amount of the liabilities of such person or entity; (ii)
      the
      present fair salable value of the assets of such person or entity is not less
      than the amount required to pay the probable liability on such person's existing
      debts as they become absolute and matured; (iii) such person or entity is able
      to realize upon its assets and pay its debts and other liabilities; (iv) such
      person or entity does not intend to, and does not believe that it will, incur
      debts or liabilities beyond such person or entity's ability to pay as such
      debts
      and liabilities mature; and (v) such person or entity is not engaged in business
      or a transaction, and is not about to engage in a business or a transaction,
      for
      which such person's or entity's property would constitute unreasonably small
      capital. 

     

    (b) "Securities
      Purchase Agreement" shall mean the Securities Purchase Agreement dated the
      date
      hereof among the Company, the Lender and the other purchasers identified
      therein.

     

    [REMAINDER
      OF PAGE LEFT BLANK]

    
      
        
        

      

      
        9

        
          

        

      

      
        
        

      

    

    [SIGNATURE
      PAGE TO CONVERTIBLE NOTE]

     

    IN
      WITNESS WHEREOF,
      the
      undersigned has executed this Secured Convertible Debenture as of the date
      first
      set forth above.

    

    
      	
              INFOSMART
                GROUP, INC.

            
	 	 
	 	 
	
              By:

            	 
	
              Its:

            	 

    

    

    STATE
      OF
      _______________ )

                                                                 )
      ss:

    COUNTY
      OF
      _______________       )
      

    

    On
      this
      _____ day of _____________, 2008, before me, personally came _____________,
      to
      me known, who being by me duly sworn, did depose and say that he resides in
      ____________________________________, that he is the Chief Executive Officer
      of
      Infosmart Group, Inc., the corporation described in and which executed the
      above
      instrument; and that he signed his name by authority of the board of directors
      of said corporation. 

    

    
      	 	 
	
              Notary
                Public

            	 

    

    
      
        
        

      

      
        10

        
          

        

      

      
        
        

      

    

    EXHIBIT
      A

    

    NOTICE
      OF CONVERSION

    

    (to
      be
      signed upon conversion of the Debenture)

    

    TO
      INFOSMART GROUP, INC.:

    

    The
      undersigned, the holder of the foregoing Debenture, hereby surrenders such
      Debenture for conversion into ______ shares of Common Stock of Infosmart Group,
      Inc., and requests that the certificates for such shares be issued in the name
      of, and delivered to, _________________, whose address is
      ________________________________________.

    

    Dated:
      _____________________

    

    
      	 	 
	
              (signature)

            	 
	 	 
	 	 
	
              (address)

            	 

    

    

    
      
        
        

      

      
        11Unassociated Document

    

      2007
        STOCK OPTION PLAN

      OF

      Indigo-Energy,
        Inc.

       

       

      
        	
                1.

              	
                PURPOSES
                  OF THE PLAN 

              

      

       

      
        	 	
                1.1.

              	
                The
                  purposes of the 2007 Stock Option Plan (the “Plan”) of Indigo-Energy,
                  Inc., a Nevada corporation (the “Company”), are
                  to:

              

      

       

      
        	 	
                1.2.

              	
                Encourage
                  selected employees, directors and consultants to improve operations
                  and
                  increase profits of the Company;

              

      

       

      
        	 	
                1.3.

              	
                Encourage
                  selected employees, directors and consultants to accept or continue
                  employment or association with the Company or its Affiliates; and
                  

              

      

       

      
        	 	
                1.4.

              	
                Increase
                  the interest of selected employees, directors and consultants in
                  the
                  Company's welfare through participation in the growth in value
                  of the
                  common stock of the Company (the
“Shares”).

              

      

       

      
        	 	
                1.5.

              	
                Options
                  granted under this Plan (“Options”) may be “incentive stock options”
                  (“ISOs”) intended to satisfy the requirements of Section 422 of the
                  Internal Revenue Code of 1986, as amended, and the regulations
                  thereunder
                  (the “Code”), or “non-qualified stock options” (“NQSOs”).
                  

              

      

       

      
        	
                2.

              	
                ELIGIBLE
                  PERSONS

              

      

       

      
        	 	
                2.1.

              	
                Every
                  person who at the date of grant of an Option is an employee of
                  the Company
                  or of any Affiliate (as defined below) of the Company is eligible
                  to
                  receive NQSOs or ISOs under this Plan. Every person who at the
                  date of
                  grant is a consultant to, or non-employee director of, the Company
                  or any
                  Affiliate (as defined below) of the Company is eligible to receive
                  NQSOs
                  under this Plan. The term “Affiliate” as used in the Plan means a parent
                  or subsidiary corporation as defined in the applicable provisions
                  (currently Sections 424(e) and (f), respectively) of the Code.
                  The term
                  “employee” includes an officer or director who is an employee of the
                  Company. The term “consultant” includes persons employed by, or otherwise
                  affiliated with, a consultant. 

              

      

       

      
        	
                3.

              	
                STOCK
                  SUBJECT TO THIS PLAN; MAXIMUM NUMBER OF GRANTS

              

      

       

      Subject
        to the provisions of Section 6.1.1 of the Plan, the total number of Shares,
        which may be issued under Options granted pursuant to this Plan, shall not
        exceed forty million (40,000,000) Shares. The Shares covered by the portion
        of
        any grant under the Plan which expires unexercised shall become available
        again
        for grants under the Plan. 

       

      
        	
                4.

              	
                ADMINISTRATION

              

      

       

      
        	 	
                4.1.

              	
                The
                  Plan shall be administered by either the Board of Directors of
                  the Company
                  (the “Board”) or by a committee (the “Committee”) to which administration
                  of the Plan, or of part of the Plan, may be delegated by the Board
                  (in
                  either case, the “Administrator”). The Board shall appoint and remove
                  members of such Committee, if any, in its discretion in accordance
                  with
                  applicable laws. If necessary in order to comply with Rule 16b-3
                  under the
                  Exchange Act and Section 162(m) of the Code, the Committee shall,
                  in the
                  Board's discretion, be comprised solely of “non-employee directors” within
                  the meaning of said Rule 16b-3 and “outside directors” within the meaning
                  of Section 162(m) of the Code. The foregoing notwithstanding, the
                  Administrator may delegate nondiscretionary administrative duties
                  to such
                  employees of the Company as it deems proper and the Board, in its
                  absolute
                  discretion, may at any time and from time to time exercise any
                  and all
                  rights and duties of the Administrator under the Plan.
                  

              

      

       

      
        
           

        

        
           

          
            

          

        

        
           

        

      

       

      
        	 	
                4.2.

              	
                Subject
                  to the other provisions of this Plan, the Administrator shall have
                  the
                  authority, in its discretion: (a) to grant Options; (b) to determine
                  the
                  fair market value of the Shares subject to Options; (c) to determine
                  the
                  exercise price of Options granted; (d) to determine the persons
                  to whom,
                  and the time or times at which, Options shall be granted, and the
                  number
                  of shares subject to each Option; (e) to interpret this Plan; (f)
                  to
                  prescribe, amend, and rescind rules and regulations relating to
                  this Plan;
                  (g) to determine the terms and provisions of each Option granted
                  (which
                  need not be identical), including but not limited to, the time
                  or times at
                  which Options shall be exercisable; (h) with the consent of the
                  optionee,
                  to modify or amend any Option; (i) to defer (with the consent of
                  the
                  optionee) the exercise date of any Option, but in no circumstances
                  for a
                  longer term than ten (10) years from the date of the original grant;
                  (j)
                  to authorize any person to execute on behalf of the Company any
                  instrument
                  evidencing the grant of an Option; and (k) to make all other
                  determinations deemed necessary or advisable for the administration
                  of
                  this Plan. The Administrator may delegate nondiscretionary administrative
                  duties to such employees of the Company as it deems proper.
                  

              

      

       

      
        	 	
                4.3.

              	
                All
                  questions of interpretation, implementation, and application of
                  this Plan
                  shall be determined by the Administrator. Such determinations shall
                  be
                  final and binding on all persons. 

              

      

       

      
        	
                5.

              	
                GRANTING
                  OF OPTIONS; OPTION AGREEMENT

              

      

       

      
        	 	
                5.1.

              	
                No
                  Options shall be granted under this Plan after 10 years from the
                  date of
                  adoption of this Plan by the Board.

              

      

       

      
        	 	
                5.2.

              	
                Each
                  Option shall be evidenced in a form satisfactory to the Administrator,
                  executed by the Company and the person to whom such Option is granted.
                  

              

      

       

      
        	 	
                5.3.

              	
                The
                  stock option agreement shall specify whether each Option it evidences
                  is
                  an NQSO or an ISO. 

              

      

       

      
        	 	
                5.4.

              	
                Subject
                  to Section 6.3.3 with respect to ISOs, the Administrator may approve
                  the
                  grant of Options under this Plan to persons who are expected to
                  become
                  employees or directors of the Company, but are not employees, directors
                  or
                  consultants at the date of approval, and the date of approval shall
                  be
                  deemed to be the date of grant unless otherwise specified by the
                  Administrator. 

              

      

       

      
        	
                6.

              	
                TERMS
                  AND CONDITIONS OF OPTIONS

              

      

       

      Each
        Option granted under this Plan shall be subject to the terms and conditions
        set
        forth in Section 6.1. NQSOs shall also be subject to the terms and conditions
        set forth in Section 6.2, but not those set forth in Section 6.3. ISOs shall
        also be subject to the terms and conditions set forth in Section 6.3, but
        not
        those set forth in Section 6.2.

       

      
        	 	
                6.1.

              	
                Terms
                  and Conditions to Which All Options Are Subject. All Options granted
                  under
                  this Plan shall be subject to the following terms and conditions:
                  

              

      

       

      
        
           

        

        
           

          
            

          

        

        
           

        

      

       

      
        	 	
                6.1.1.

              	
                Changes
                  in Capital Structure. Subject to Section 6.2.2, if the stock of
                  the
                  Company is changed by reason of a stock split, reverse stock split,
                  stock
                  dividend, or recapitalization, combination or reclassification,
                  appropriate adjustments shall be made by the Board in (a) the number
                  and
                  class of shares of stock subject to this Plan and each Option outstanding
                  under this Plan, and (b) the exercise price of each outstanding
                  Option;
                  provided, however, that the Company shall not be required to issue
                  fractional shares as a result of any such adjustments. Each such
                  adjustment shall be subject to approval by the Board in its sole
                  discretion. 

              

      

       

      
        	 	
                6.1.2.

              	
                Corporate
                  Transactions. In the event of the proposed dissolution or liquidation
                  of
                  the Company, the Administrator shall notify each optionee at least
                  30 days
                  prior to such proposed action. To the extent not previously exercised,
                  all
                  Options will terminate immediately prior to the consummation of
                  such
                  proposed action; provided, however, that the Administrator, in
                  the
                  exercise of its sole discretion, may permit exercise of any Options
                  prior
                  to their termination, even if such Options were not otherwise exercisable.
                  In the event of a merger or consolidation of the Company with or
                  into
                  another corporation or entity in which the Company does not survive,
                  or in
                  the event of a sale of all or substantially all of the assets of
                  the
                  Company in which the shareholders of the Company receive securities
                  of the
                  acquiring entity or an affiliate thereof, all Options shall be
                  assumed or
                  equivalent options shall be substituted by the successor corporation
                  (or
                  other entity) or a parent or subsidiary of such successor corporation
                  (or
                  other entity); provided, however, that if such successor does not
                  agree to
                  assume the Options or to substitute equivalent options therefor,
                  the
                  Administrator, in the exercise of its sole discretion, may permit
                  the
                  exercise of any of the Options prior to consummation of such event,
                  even
                  if such Options were not otherwise exercisable.

              

      

       

      
        	 	
                6.1.3.

              	
                Time
                  of Option Exercise. Subject to Section 5 and Section 6.3.4, Options
                  granted under this Plan shall be exercisable (a) immediately as
                  of the
                  effective date of the stock option agreement granting the Option,
                  or (b)
                  in accordance with a schedule as may be set by the Administrator
                  (each
                  such date on such schedule, the “Vesting Base Date”) and specified in the
                  written stock option agreement relating to such Option. In any
                  case, no
                  Option shall be exercisable until a written stock option agreement
                  in form
                  satisfactory to the Company is executed by the Company and the
                  optionee.
                  

              

      

       

      
        	 	
                6.1.4.

              	
                Option
                  Grant Date. The date of grant of an Option under this Plan shall
                  be the
                  date as of which the Administrator approves the grant.
                  

              

      

       

      
        	 	
                6.1.5.

              	
                Nontransferability
                  of Option Rights. Except with the express written approval of the
                  Administrator which approval the Administrator is authorized to
                  give only
                  with respect to NQSOs, no Option granted under this Plan shall
                  be
                  assignable or otherwise transferable by the optionee except by
                  will, by
                  the laws of descent and distribution or pursuant to a qualified
                  domestic
                  relations order. During the life of the optionee, an Option shall
                  be
                  exercisable only by the optionee. 

              

      

       

      
        	 	
                6.1.6.

              	
                Payment.
                  All options issued under this plan are deemed to be cashless. Options
                  may
                  be exercised using the intrinsic value of the options.
                  

              

      

       

      (a) Subject
        to the discretion of the Administrator and the terms of the stock option
        agreement granting the Option, delivery by the optionee of Shares already
        owned
        by the optionee for all or part of the Option price, provided the fair market
        value (determined as set forth in Section 6.1.10) of such Shares being delivered
        is equal on the date of exercise to the Option price, or such portion thereof
        as
        the optionee is authorized to pay by delivery of such stock; and 

       

      
        
           

        

        
           

          
            

          

        

        
           

        

      

       

      (b) Subject
        to the discretion of the Administrator, through the surrender of Shares then
        issuable upon exercise of the Option, provided the fair market value (determined
        as set forth in Section 6.1.10) of such Shares is equal on the date of exercise
        to the Option price, or such portion thereof as the optionee is authorized
        to
        pay by surrender of such stock. 

       

      
        	 	
                6.1.7.

              	
                Termination
                  of Employment. All options issued under this plan are to be vested
                  immediately unless stipulated otherwise by the Administrator at
                  the time
                  of issuance. The Employee shall have 90 days from termination to
                  exercise
                  the option or it shall expire. 

              

      

       

      
        	 	
                6.1.8.

              	
                Withholding
                  and Employment Taxes. At the time of exercise of an Option and
                  as a
                  condition thereto, or at such other time as the amount of such
                  obligations
                  becomes determinable (the “Tax Date”), the optionee shall remit to the
                  Company in cash all applicable federal and state withholding and
                  employment taxes. Such obligation to remit may be satisfied, if
                  authorized
                  by the Administrator in its sole discretion, after considering
                  any tax,
                  accounting and financial consequences, by the optionee's (a) delivery
                  of a
                  promissory note in the required amount on such terms as the Administrator
                  deems appropriate, (b) tendering to the Company previously owned
                  Shares or
                  other securities of the Company with a fair market value equal
                  to the
                  required amount, or (c) agreeing to have Shares (with a fair market
                  value
                  equal to the required amount) which are acquired upon exercise
                  of the
                  Option withheld by the Company. 

              

      

       

      
        	 	
                6.1.9.

              	
                Other
                  Provisions. Each Option granted under this Plan may contain such
                  other
                  terms, provisions, and conditions not inconsistent with this Plan
                  as may
                  be determined by the Administrator, and each ISO granted under
                  this Plan
                  shall include such provisions and conditions as are necessary to
                  qualify
                  the Option as an “incentive stock option” within the meaning of Section
                  422 of the Code. 

              

      

       

      
        	 	
                6.1.10.

              	
                Determination
                  of Value. For purposes of the Plan, the fair market value of Shares
                  or
                  other securities of the Company shall be determined as follows:
                  

              

      

       

      (a) Fair
        market value shall be the closing price of such stock on the date before
        the
        date the value is to be determined on the principal recognized securities
        exchange or recognized securities market on which such stock is reported,
        but if
        selling prices are not reported, its fair market value shall be the mean
        between
        the high bid and low asked prices for such stock on the date before the date
        the
        value is to be determined (or if there are no quoted prices for such date,
        then
        for the last preceding business day on which there were quoted prices).

       

      (b) In
        the
        absence of an established market for the stock, the fair market value thereof
        shall be determined in good faith by the Administrator, with reference to
        the
        Company's net worth, prospective earning power, dividend-paying capacity,
        and
        other relevant factors, including the goodwill of the Company, the economic
        outlook in the Company's industry, the Company's position in the industry,
        the
        Company's management, and the values of stock of other corporations in the
        same
        or similar line of business. 

       

      6.1.11 Option
        Term. Subject to Section 6.3.4, no Option shall be exercisable more than
        10
        years after the date of grant, or such lesser period of time as is set forth
        in
        the stock option agreement (the end of the maximum exercise period stated
        in the
        stock option agreement is referred to in this Plan as the “Expiration Date”).

       

      
        
           

        

        
           

          
            

          

        

        
           

        

      

       

      
        	 	
                6.2.

              	
                Terms
                  and Conditions to Which Only NQSOs Are Subject. Options granted
                  under this
                  Plan which are designated as NQSOs shall be subject to the following
                  terms
                  and conditions: 

              

      

       

      
        	 	
                6.2.1.

              	
                Exercise
                  Price.

              

      

       

      (a) Except
        as
        set forth in Section 6.2.1(b), the exercise price of an NQSO shall be not
        less
        than 100% of the fair market value (determined in accordance with Section
        6.1.10) of the stock subject to the Option on the date of grant. 

       

      (b) To
        the
        extent required by applicable laws, rules and regulations, the exercise price
        of
        a NQSO granted to any person who owns, directly or by attribution under the
        Code
        (currently Section 424(d)), stock possessing more than ten percent of the
        total
        combined voting power of all classes of stock of the Company or of any Affiliate
        (a “Ten Percent Shareholder”) shall in no event be less than 110% of the fair
        market value (determined in accordance with Section 6.1.10) of the stock
        covered
        by the Option at the time the Option is granted. 

       

      
        	 	
                6.3.

              	
                Terms
                  and Conditions to Which Only ISOs Are Subject. Options granted
                  under this
                  Plan which are designated as ISOs shall be subject to the following
                  terms
                  and conditions:

              

      

       

      
        	 	
                6.3.1.

              	
                Exercise
                  Price.

              

      

       

      (a) Except
        as
        set forth in Section 6.3.1(b), the exercise price of an ISO shall be determined
        in accordance with the applicable provisions of the Code and shall in no
        event
        be less than the fair market value (determined in accordance with Section
        6.1.10) of the stock covered by the Option at the time the Option is granted.
        

       

      (b) The
        exercise price of an ISO granted to any Ten Percent Shareholder shall in
        no
        event be less than 110% of the fair market value (determined in accordance
        with
        Section 6.1.10) of the stock covered by the Option at the time the Option
        is
        granted.

       

      
        	 	
                6.3.2.

              	
                Disqualifying
                  Dispositions. If stock acquired by exercise of an ISO granted pursuant
                  to
                  this Plan is disposed of in a “disqualifying disposition” within the
                  meaning of Section 422 of the Code (a disposition within two years
                  from
                  the date of grant of the Option or within one year after the transfer
                  such
                  stock on exercise of the Option), the holder of the stock immediately
                  before the disposition shall promptly notify the Company in writing
                  of the
                  date and terms of the disposition and shall provide such other
                  information
                  regarding the Option as the Company may reasonably require.
                  

              

      

       

      
        	 	
                6.3.3.

              	
                Grant
                  Date. If an ISO is granted in anticipation of employment as provided
                  in
                  Section 5.1, the Option shall be deemed granted, without further
                  approval,
                  on the date the grantee assumes the employment relationship forming
                  the
                  basis for such grant, and, in addition, satisfies all requirements
                  of this
                  Plan for Options granted on that
                  date.

              

      

       

      
        	 	
                6.3.4.

              	
                Term.
                  Notwithstanding Section 6.1.11, no ISO granted to any Ten Percent
                  Shareholder shall be exercisable more than five years after the
                  date of
                  grant. 

              

      

       

      
        
           

        

        
           

          
            

          

        

        
           

        

      

       

      
        	
                7.

              	
                MANNER
                  OF EXERCISE

              

      

       

      
        	 	
                7.1.

              	
                An
                  optionee wishing to exercise an Option shall give written notice
                  to the
                  Company at its principal executive office, to the attention of
                  the officer
                  of the Company designated by the Administrator, accompanied by
                  payment of
                  the exercise price and withholding taxes as provided in Sections
                  6.1.6 and
                  6.1.8. The date the Company receives written notice of an exercise
                  hereunder accompanied by payment of the exercise price will be
                  considered
                  as the date such Option was exercised.

              

      

       

      
        	 	
                7.2.

              	
                Promptly
                  after receipt of written notice of exercise of an Option and the
                  payments
                  called for by Section 7.1, the Company shall, without stock issue
                  or
                  transfer taxes to the optionee or other person entitled to exercise
                  the
                  Option, deliver to the optionee or such other person a certificate
                  or
                  certificates for the requisite number of shares of stock. An optionee
                  or
                  permitted transferee of the Option shall not have any privileges
                  as a
                  shareholder with respect to any shares of stock covered by the
                  Option
                  until the date of issuance (as evidenced by the appropriate entry
                  on the
                  books of the Company or a duly authorized transfer agent) of such
                  shares.
                  

              

      

       

      
        	
                8.

              	
                EMPLOYMENT
                  OR CONSULTING RELATIONSHIP

              

      

       

      Nothing
        in this Plan or any Option granted hereunder shall interfere with or limit
        in
        any way the right of the Company or of any of its Affiliates to terminate
        any
        optionee's employment or consulting at any time, nor confer upon any optionee
        any right to continue in the employ of, or consult with, the Company or any
        of
        its Affiliates. 

       

      
        	
                9.

              	
                CONDITIONS
                  UPON ISSUANCE OF SHARES 

              

      

       

      Shares
        shall not be issued pursuant to the exercise of an Option unless the exercise
        of
        such Option and the issuance and delivery of such shares pursuant thereto
        shall
        comply with all relevant provisions of law, including, without limitation,
        the
        Securities Act of 1933, as amended (the “Securities Act”). 

       

      
        	
                10.

              	
                NON-EXCLUSIVITY
                  OF THE PLAN 

              

      

       

      The
        adoption of the Plan shall not be construed as creating any limitations on
        the
        power of the Company to adopt such other incentive arrangements as it may
        deem
        desirable, including, without limitation, the granting of stock options other
        than under the Plan.

       

      
        	
                11.

              	
                AMENDMENTS
                  TO PLAN

              

      

       

      The
        Board
        may at any time amend, alter, suspend or discontinue this Plan. Without the
        consent of an optionee, no amendment, alteration, suspension or discontinuance
        may adversely affect outstanding Options except to conform this Plan and
        ISOs
        granted under this Plan to the requirements of federal or other tax laws
        relating to incentive stock options. No amendment, alteration, suspension
        or
        discontinuance shall require shareholder approval unless (a) shareholder
        approval is required to preserve incentive stock option treatment for federal
        income tax purposes or (b) the Board otherwise concludes that shareholder
        approval is advisable. 

       

      
        
           

        

        
           

          
            

          

        

        
           

        

      

       

      
        	
                12.

              	
                EFFECTIVE
                  DATE OF PLAN; TERMINATION

              

      

       

      This
        Plan
        shall become effective upon adoption by the Board; provided, however, that
        no
        Option shall be exercisable unless and until written consent of the shareholders
        of the Company, or approval of shareholders of the Company voting at a validly
        called shareholders' meeting, is obtained within twelve months after adoption
        by
        the Board. If such shareholder approval is not obtained within such time,
        Options granted hereunder shall be of the same force and effect as if such
        approval was obtained except that all ISOs granted hereunder shall be treated
        as
        NQSOs. Options may be granted and exercised under this Plan only after there
        has
        been compliance with all applicable federal and state securities laws. This
        Plan
        shall terminate within ten years from the date of its adoption by the
        Board.

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