Document:

gtx_8k-ex1005.htm

    Exhibit 10.5

     

    
NONE
OF THE SECURITIES TO WHICH THIS PRIVATE PLACEMENT SUBSCRIPTION RELATES HAVE BEEN
REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE "1933
ACT"), OR ANY U.S. STATE SECURITIES LAWS, AND, UNLESS SO REGISTERED, MAY NOT BE
OFFERED OR SOLD, DIRECTLY OR INDIRECTLY, IN THE UNITED STATES (AS DEFINED
HEREIN) OR TO U.S. PERSONS EXCEPT IN ACCORDANCE WITH THE PROVISIONS OF
REGULATION S UNDER THE 1933 ACT, PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT
UNDER THE 1933 ACT, OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A
TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE 1933 ACT AND IN
EACH CASE ONLY IN ACCORDANCE WITH APPLICABLE STATE SECURITIES
LAWS.  IN ADDITION, HEDGING TRANSACTIONS INVOLVING THE SECURITIES MAY
NOT BE CONDUCTED UNLESS IN COMPLIANCE WITH THE 1933 ACT.  "UNITED
STATES" AND "U.S. PERSON" ARE AS DEFINED BY REGULATION S UNDER THE 1933
ACT.

    

    PRIVATE
PLACEMENT SUBSCRIPTION

    FOR
NON U.S. SUBSCRIBERS

    

    DEEAS
RESOURCES INC.

    

    PRIVATE
PLACEMENT

    MAXIMUM
5,333,333 UNITS

    US$4,000,000

    

    INSTRUCTIONS
TO SUBSCRIBER:

    

    
      	
              1.

            	
              COMPLETE the information
      on page 11 of this Subscription and the information contained in the
      Irrevocable Proxy set out in Schedule
B.

            

    

    

    
      	
              2.

            	
              WIRE the Subscription
      Proceeds to Clark Wilson LLP, counsel to the Company, pursuant to the wire
      instructions provided on page ii of this
  Subscription.

            

    

    

    
      	
              3.

            	
              FAX a copy of page 11 of
      this Subscription, wire confirmation and all pages of the applicable
      Schedules of this Subscription to Clark Wilson LLP, attention Cam McTavish
      at (604) 687-6314.

            

    

    

    
      	
              4.

            	
              COURIER the originally
      executed copy of the entire Subscription, together with all duly signed
      Schedules, to Clark Wilson LLP, counsel to the Company,
  to:

            

    

    

    
      	
               
      

            	
              Clark
      Wilson LLP

            

    

    
      	
               
      

            	
              800-885
      W Georgia Street

            

    

    
      	
               
      

            	
              Vancouver,
      B.C. Canada  V6C 3H1

            

    

    
      	
               
      

            	
              Attention:
      Cam McTavish

            

    

    

    DEEAS
RESOURCES INC.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    TRUST FUNDS
(USD)

    

     

    INSTRUCTIONS
FOR WIRING FUNDS TO CLARK WILSON LLP

     

    [information details deleted]

     

    PLEASE
ALSO INSTRUCT YOUR BANKER TO QUOTE

    YOUR
NAME AND OUR FILE NUMBER 31131-001/CZM

     

    PLEASE
PROVIDE A COPY OF THE WIRE CONFIRMATION

    AS
INSTRUCTED ON THE COVER PAGE OF THIS SUBSCRIPTION

    

    
      
         

      

      
        ii

        
          

        

      

      
         

      

    

    NONE
OF THE SECURITIES TO WHICH THIS PRIVATE PLACEMENT SUBSCRIPTION RELATES HAVE BEEN
REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE "1933
ACT"), OR ANY U.S. STATE SECURITIES LAWS, AND, UNLESS SO REGISTERED, MAY NOT BE
OFFERED OR SOLD, DIRECTLY OR INDIRECTLY, IN THE UNITED STATES (AS DEFINED
HEREIN) OR TO U.S. PERSONS EXCEPT IN ACCORDANCE WITH THE PROVISIONS OF
REGULATION S UNDER THE 1933 ACT, PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT
UNDER THE 1933 ACT, OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A
TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE 1933 ACT AND IN
EACH CASE ONLY IN ACCORDANCE WITH APPLICABLE STATE SECURITIES
LAWS.  IN ADDITION, HEDGING TRANSACTIONS INVOLVING THE SECURITIES MAY
NOT BE CONDUCTED UNLESS IN COMPLIANCE WITH THE 1933 ACT.  "UNITED
STATES" AND "U.S. PERSON" ARE AS DEFINED BY REGULATION S UNDER THE 1933
ACT.

     

    PRIVATE
PLACEMENT SUBSCRIPTION

     

    (Non U.S.
Subscribers Only)

     

    
      	
              TO:

            	
              DEEAS RESOURCES INC.
      (the "Company")

            

    

    
      	
               
      

            	
              1214
      – 117 West 9th Street

            

    

    
      	
               
      

            	
              Los
      Angeles, CA 90015

            

    

     

    Purchase of
Units

     

    
      	
              1.

            	
              Subscription

            

    

     

    1.1                     
     The undersigned (the "Subscriber") hereby
irrevocably subscribes for and agrees to purchase the number of units (each, a
"Unit") of the Company as set out on page 11 of this Subscription at a price of
$0.75 per Unit (such subscription and agreement to purchase being the
"Subscription"), for the total subscription price as set out on page 11 of this
Subscription (the "Subscription Proceeds"), which Subscription Proceeds are
tendered herewith, on the basis of the representations and warranties and
subject to the terms and conditions set forth herein.

     

    1.2                        
  Each Unit consists of one common share in the capital of the Company
(each, a "Share") and one common share purchase warrant in the form attached
hereto as Schedule A (each, a "Warrant").  Each Warrant shall be
non-transferable and shall entitle the holder thereof to purchase one Share
(each, a "Warrant Share") at a price per Warrant Share of $1.25, whereby the
first 1,666,666 Warrants subscribed for will be exercisable for a period of
eighteen (18) months from the date of issuance and the next 1,000,000 Warrants
will be exercisable for a period of twelve (12) months from the date of
issuance.  Any Warrants issued thereafter will be issued for a term as
solely determined by the Company.

     

    1.3                        
  The Units, the Warrants, the Shares and the Warrant Shares are
collectively referred to as the "Securities".

     

    1.4                      
    The Subscriber acknowledges that the Closing, as defined
herein, is intended to occur simultaneous with the closing of the letter
agreement dated November 9, 2007 and that pursuant to the terms of the letter
agreement, and at the closing thereof, the Company intends to change its name to
Global Trek Xploration Corporation and effect a forward stock split on a 20.71
for 1 basis.  The Subscriber acknowledges that the Securities that
will be issued by the Company upon acceptance of this Subscription will be on a
post-split basis and that the name on all certificates evidencing the Securities
will bear the new name of the Company.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    1.5                    
      The Subscriber agrees that the acceptance of
this Subscription by the Company is conditional upon the Subscriber signing and
delivering an Irrevocable Proxy in the form set out in Schedule B (the "Proxy")
which grants Patrick Bertagna sole power to vote any Warrant Shares exercised by
the Subscriber based upon the terms and conditions set out in the
Proxy.

     

    1.6                    
      The Company hereby agrees to sell, on the
basis of the representations and warranties and subject to the terms and
conditions set forth herein, to the Subscriber the
Securities.  Subject to the terms hereof, the Subscription will be
effective upon its acceptance by the Company.

     

    1.7                    
      Unless otherwise provided, all dollar
amounts referred to in this Subscription are in lawful money of the United
States of America.

     

    
      	
              2.

            	
              Payment

            

    

     

    2.1                        
  The Subscription Proceeds must accompany this Subscription and shall
be wired directly to the Company's lawyers in accordance with the wire
instructions set out on page ii of this Subscription.  The Subscriber
authorizes the Company's lawyers to deliver the Subscription Proceeds to the
Company.

     

    2.2                       
   The Subscriber acknowledges and agrees that this Subscription,
the Subscription Proceeds and any other documents delivered in connection
herewith will be held by the Company's lawyers on behalf of the
Company.  In the event that this Subscription is not accepted by the
Company for whatever reason within 60 days of the delivery of an executed
Subscription by the Subscriber, this Subscription, the Subscription Proceeds and
any other documents delivered in connection herewith will be returned to the
Subscriber at the address of the Subscriber as set forth in this Subscription
without interest or deduction.

     

    2.3                      
    Where the Subscription Proceeds are paid to the Company,
the Company may treat the Subscription Proceeds as a non-interest bearing loan
and may use the Subscription Proceeds prior to this subscription being accepted
by the Company.

     

    2.4                      
    The Subscriber shall complete, sign and return to the
Company as soon as possible, on request by the Company, any documents,
questionnaires, notices and undertakings as may be required by regulatory
authorities, the OTC Bulletin Board, stock exchanges and applicable
law.

     

    
      	
              3.

            	
              Closing

            

    

     

    3.1                      Closing
of the purchase and sale of the Securities is intended to occur on or before
February 25, 2008, or on such other date as may be determined by the Company in
its sole discretion (the "Closing Date").  The Subscriber acknowledges
that Securities may be issued to other subscribers under this offering (the
"Offering") before or after the Closing Date.

     

    
      	
              4.

            	
              Acknowledgements of
      Subscriber

            

    

     

    4.1                      The
Subscriber acknowledges and agrees that:

     

    
      	
               
      

            	
              (a)

            	
              the
      Securities have not been registered under the Securities Act of 1933, as
      amended (the "1933 Act"), or under any state securities or "blue sky" laws
      of any state of the United States, and are being offered only in a
      transaction not involving any public offering within the meaning of the
      1933 Act, and, unless so registered, may not be offered or sold in the
      United States or to U.S. Persons (as defined herein), except pursuant to
      an effective registration statement under the 1933 Act, or pursuant to an
      exemption from, or in a transaction not subject to, the registration
      requirements of the 1933 Act, and in each case only in accordance with
      applicable state securities
laws;

            

    

    
      
         

      

      
        - 2
-

        
          

        

      

      
         

      

    

     

    
      	
               
      

            	
              (b)

            	
              the
      Company will refuse to register any transfer of the Securities not made in
      accordance with the provisions of Regulation S, pursuant to an effective
      registration statement under the 1933 Act or pursuant to an available
      exemption from, or in a transaction not subject to, the registration
      requirements of the 1933 Act;

            

    

     

    
      	
               
      

            	
              (c)

            	
              the
      decision to execute this Subscription and purchase the Securities agreed
      to be purchased hereunder has not been based upon any oral or written
      representation as to fact or otherwise made by or on behalf of the Company
      and such decision is based solely upon a review of the publicly available
      information regarding the Company available on the website of the United
      States Securities and Exchange Commission (the "SEC") available at
      www.sec.gov (collectively, the "Company
  Information");

            

    

     

    
      	
               
      

            	
              (d)

            	
              the
      Subscriber and the Subscriber's advisor(s) have had a reasonable
      opportunity to review the Company Information and to ask questions of and
      receive answers from the Company regarding the Offering, and to obtain
      additional information, to the extent possessed or obtainable without
      unreasonable effort or expense, necessary to verify the accuracy of the
      information contained in the Company Information, or any other document
      provided to the Subscriber;

            

    

     

    
      	
               
      

            	
              (e)

            	
              the
      books and records of the Company were available upon reasonable notice for
      inspection, subject to certain confidentiality restrictions, by the
      Subscriber during reasonable business hours at its principal place of
      business and that all documents, records and books pertaining to this
      Offering have been made available for inspection by the Subscriber, the
      Subscriber's attorney and/or
advisor(s);

            

    

     

    
      	
               
      

            	
              (f)

            	
              by
      execution hereof the Subscriber has waived the need for the Company to
      communicate its acceptance of the purchase of the Securities pursuant to
      this Subscription;

            

    

     

    
      	
               
      

            	
              (g)

            	
              the
      Company is entitled to rely on the representations and warranties and the
      statements and answers of the Subscriber contained in this Subscription
      and the Subscriber will hold harmless the Company from any loss or damage
      it may suffer as a result of the Subscriber's failure to correctly
      complete this Subscription;

            

    

     

    
      	
               
      

            	
              (h)

            	
              the
      Subscriber will indemnify and hold harmless the Company and, where
      applicable, its respective directors, officers, employees, agents,
      advisors and shareholders from and against any and all loss, liability,
      claim, damage and expense whatsoever (including, but not limited to, any
      and all fees, costs and expenses whatsoever reasonably incurred in
      investigating, preparing or defending against any claim, lawsuit,
      administrative proceeding or investigation whether commenced or
      threatened) arising out of or based upon any acknowledgment,
      representation or warranty of the Subscriber contained herein or in any
      other document furnished by the Subscriber to the Company in connection
      herewith, being untrue in any material respect or any breach or failure by
      the Subscriber to comply with any covenant or agreement made by the
      Subscriber to the Company in connection
  therewith;

            

    

    
      
         

      

      
        - 3
-

        
          

        

      

      
         

      

    

     

    
      	
               
      

            	
              (i)

            	
              the
      issuance and sale of the Securities to the Subscriber will not be
      completed if it would be unlawful or if, in the discretion of the Company
      acting reasonably, it is not in the best interests of the
      Company;

            

    

     

    
      	
               
      

            	
              (j)

            	
              the
      Subscriber has not acquired the Securities as a result of, and will not
      itself engage in, any "directed selling efforts" (as defined in Regulation
      S under the 1933 Act) in the United States in respect of any of the
      Securities which would include any activities undertaken for the purpose
      of, or that could reasonably be expected to have the effect of,
      conditioning the market in the United States for the resale of any of the
      Securities; provided, however, that the Subscriber may sell or otherwise
      dispose of any of the Securities pursuant to registration of any of the
      Securities pursuant to the 1933 Act and any applicable state securities
      laws or under an exemption from such registration requirements and as
      otherwise provided herein;

            

    

     

    
      	
               
      

            	
              (k)

            	
              the
      Subscriber is outside the United States when receiving and executing this
      Subscription and is acquiring the Securities as principal for its own
      account, for investment purposes only, and not with a view to, or for,
      resale, distribution or fractionalization thereof, in whole or in part,
      and no other person has a direct or indirect beneficial interest in such
      Securities;

            

    

     

    
      	
               
      

            	
              (l)

            	
              none
      of the Securities may be offered or sold to a U.S. Person or for the
      account or benefit of a U.S. Person (other than a distributor) prior to
      the end of the expiration of a period of one year after the date of
      original issuance of the
Securities;

            

    

     

    
      	
               
      

            	
              (m)

            	
              the
      statutory and regulatory basis for the exemption claimed for the offer and
      sale of the Securities, although in technical compliance with Regulation
      S, would not be available if the offering is part of a plan or scheme to
      evade the registration provisions of the 1933
  Act;

            

    

     

    
      	
               
      

            	
              (n)

            	
              the
      Subscriber has been advised to consult its own legal, tax and other
      advisors with respect to the merits and risks of an investment in the
      Securities and with respect to applicable resale restrictions and it is
      solely responsible (and the Company is in any way responsible) for
      compliance with applicable resale
restrictions;

            

    

     

    
      	
               
      

            	
              (o)

            	
              the
      Securities are not listed on any stock exchange or automated dealer
      quotation system and no representation has been made to the Subscriber
      that any of the Securities will become listed on any stock exchange or
      automated dealer quotation system, except that currently certain market
      makers make market in the shares of the Company's common stock on the OTC
      Bulletin Board;

            

    

     

    
      	
               
      

            	
              (p)

            	
              neither
      the SEC nor any other securities commission or similar regulatory
      authority has reviewed or passed on the merits of the
      Securities;

            

    

     

    
      	
               
      

            	
              (q)

            	
              no
      documents in connection with this Offering have been reviewed by the SEC
      or any state securities
administrators;

            

    

     

    
      	
               
      

            	
              (r)

            	
              there
      is no government or other insurance covering any of the Securities;
      and

            

    

     

    
      	
               
      

            	
              (s)

            	
              this
      Subscription is not enforceable by the Subscriber unless it has been
      accepted by the Company, and the Subscriber acknowledges and agrees that
      the Company reserves the right to reject any Subscription for any
      reason.

            

    

    
      
         

      

      
        - 4
-

        
          

        

      

      
         

      

    

     

    
      	
              5.

            	
              Representations,
      Warranties and Covenants of the
  Subscriber

            

    

     

    5.1                    
     The Subscriber hereby represents and warrants to
and covenants with the Company (which representations, warranties and covenants
shall survive the Closing Date) that:

     

    
      	
               
      

            	
              (a)

            	
              the
      Subscriber is not a U.S. Person;

            

    

     

    
      	
               
      

            	
              (b)

            	
              the
      Subscriber is not acquiring the Securities for the account or benefit of,
      directly or indirectly, any U.S.
Person;

            

    

     

    
      	
               
      

            	
              (c)

            	
              the
      Subscriber is resident in the jurisdiction set out on page 11 of this
      Subscription;

            

    

     

    
      	
               
      

            	
              (d)

            	
              the
      issuance of the Securities to the Subscriber as contemplated by the
      delivery of this Agreement, the acceptance of it by the Company and the
      issuance of the Securities to the Subscriber complies with all applicable
      laws of the Subscriber's jurisdiction of residence or domicile and will
      not cause the Company to become subject to or comply with any disclosure,
      prospectus or reporting requirements under any such applicable
      laws;

            

    

     

    
      	
               
      

            	
              (e)

            	
              the
      Subscriber:

            

    

     

    
      	
               
      

            	
              (i)

            	
              is
      knowledgeable of, or has been independently advised as to, the applicable
      securities laws of the securities regulators having application in the
      jurisdiction in which the Subscriber is resident (the “International
      Jurisdiction”) which would apply to the acquisition of the
      Securities,

            

    

     

    
      	
               
      

            	
              (ii)

            	
              is
      purchasing the Securities pursuant to exemptions from prospectus or
      equivalent requirements under applicable securities laws or, if such is
      not applicable, the Subscriber is permitted to purchase the Securities
      under the applicable securities laws of the securities regulators in the
      International Jurisdiction without the need to rely on any
      exemptions,

            

    

     

    
      	
               
      

            	
              (iii)

            	
              acknowledges
      that the applicable securities laws of the authorities in the
      International Jurisdiction do not require the Company to make any filings
      or seek any approvals of any kind whatsoever from any securities regulator
      of any kind whatsoever in the International Jurisdiction in connection
      with the issue and sale or resale of the Securities,
  and

            

    

     

    
      	
               
      

            	
              (iv)

            	
              represents
      and warrants that the acquisition of the Securities by the Subscriber does
      not trigger:

            

    

     

    
      	
               
      

            	
              A.

            	
              any
      obligation to prepare and file a prospectus or similar document, or any
      other report with respect to such purchase in the International
      Jurisdiction, or

            

    

     

    
      	
               
      

            	
              B.

            	
              any
      continuous disclosure reporting obligation of the Company in the
      International Jurisdiction, and

            

    

     

    the
Subscriber will, if requested by the Company, deliver to the Company a
certificate or opinion of local counsel from the International Jurisdiction
which will confirm the matters referred to in subparagraphs (ii), (iii) and (iv)
above to the satisfaction of the Company, acting reasonably;

    
      
         

      

      
        - 5
-

        
          

        

      

      
         

      

    

     

    
      	
               
      

            	
              (f)

            	
              the
      Subscriber is acquiring the Securities as principal for investment only
      and not with a view to, or for, resale, distribution or fractionalization
      thereof, in whole or in part, and, in particular, it has no intention to
      distribute either directly or indirectly any of the Securities in the
      United States or to U.S. Persons;

            

    

     

    
      	
               
      

            	
              (g)

            	
              the
      Subscriber is outside the United States when receiving and executing this
      Subscription;

            

    

     

    
      	
               
      

            	
              (h)

            	
              the
      Subscriber has received and carefully read this
    Subscription;

            

    

     

    
      	
               
      

            	
              (i)

            	
              the
      Subscriber understands and agrees not to engage in any hedging
      transactions involving any of the Securities unless such transactions are
      in compliance with the provisions of the 1933 Act and in each case only in
      accordance with applicable state securities
  laws;

            

    

     

    
      	
               
      

            	
              (j)

            	
              the
      Subscriber acknowledges that it has not acquired the Securities as a
      result of, and will not itself engage in, any "directed selling efforts"
      (as defined in Regulation S under the 1933 Act) in the United States in
      respect of any of the Securities which would include any activities
      undertaken for the purpose of, or that could reasonably be expected to
      have the effect of, conditioning the market in the United States for the
      resale of any of the Securities; provided, however, that the Subscriber
      may sell or otherwise dispose of any of the Securities pursuant to
      registration of any of the Securities pursuant to the 1933 Act and any
      applicable state securities laws or under an exemption from such
      registration requirements and as otherwise provided
  herein;

            

    

     

    
      	
               
      

            	
              (k)

            	
              the
      Subscriber has the legal capacity and competence to enter into and execute
      this Subscription and to take all actions required pursuant hereto and, if
      the Subscriber is a corporation, it is duly incorporated and validly
      subsisting under the laws of its jurisdiction of incorporation and all
      necessary approvals by its directors, shareholders and others have been
      obtained to authorize execution and performance of this Subscription on
      behalf of the Subscriber;

            

    

     

    
      	
               
      

            	
              (l)

            	
              the
      Subscriber (i) has adequate net worth and means of providing for its
      current financial needs and possible personal contingencies, (ii) has no
      need for liquidity in this investment, and (iii) is able to bear the
      economic risks of an investment in the Securities for an indefinite period
      of time, and can afford the complete loss of such
    investment;

            

    

     

    
      	
               
      

            	
              (m)

            	
              the
      Subscriber understands and agrees that the Company and others will rely
      upon the truth and accuracy of the acknowledgements, representations,
      warranties, covenants and agreements contained in this Subscription and
      agrees that if any of such acknowledgements, representations and
      agreements are no longer accurate or have been breached, the Subscriber
      shall promptly notify the Company;

            

    

     

    
      	
               
      

            	
              (n)

            	
              the
      Subscriber is aware that an investment in the Company is speculative and
      involves certain risks, including the possible loss of the
      investment;

            

    

     

    
      	
               
      

            	
              (o)

            	
              the
      entering into of this Subscription and the transactions contemplated
      hereby do not result in the violation of any of the terms and provisions
      of any law applicable to, or, if applicable, the constating documents of,
      the Subscriber, or of any agreement, written or oral, to which the
      Subscriber may be a party or by which the Subscriber is or may be
      bound;

            

    

    
      
         

      

      
        - 6
-

        
          

        

      

      
         

      

    

     

    
      	
               
      

            	
              (p)

            	
              the
      Subscriber has duly executed and delivered this Subscription and it
      constitutes a valid and binding agreement of the Subscriber enforceable
      against the Subscriber;

            

    

     

    
      	
               
      

            	
              (q)

            	
              the
      Subscriber has the requisite knowledge and experience in financial and
      business matters as to be capable of evaluating the merits and risks of
      the investment in the Securities and the
  Company;

            

    

     

    
      	
               
      

            	
              (r)

            	
              the
      Subscriber understands and agrees that the Company and others will rely
      upon the truth and accuracy of the acknowledgements, representations and
      agreements contained in this Subscription, and agrees that if any of such
      acknowledgements, representations and agreements are no longer accurate or
      have been breached, the Subscriber shall promptly notify the
      Company;

            

    

     

    
      	
               
      

            	
              (s)

            	
              all
      information contained in this Subscription is complete and accurate and
      may be relied upon by the Company, and the Subscriber will notify the
      Company immediately of any material change in any such information
      occurring prior to the Closing
Date;

            

    

     

    
      	
               
      

            	
              (t)

            	
              the
      Subscriber is purchasing the Securities for its own account for investment
      purposes only and not for the account of any other person and not for
      distribution, assignment or resale to others, and no other person has a
      direct or indirect beneficial interest is such Securities, and the
      Subscriber has not subdivided his interest in the Securities with any
      other person;

            

    

     

    
      	
               
      

            	
              (u)

            	
              the
      Subscriber is not an underwriter of, or dealer in, the shares of the
      Company's common stock, nor is the Subscriber participating, pursuant to a
      contractual agreement or otherwise, in the distribution of the
      Securities;

            

    

     

    
      	
               
      

            	
              (v)

            	
              the
      Subscriber has made an independent examination and investigation of an
      investment in the Securities and the Company and has depended on the
      advice of its legal and financial advisors and agrees that the Company
      will not be responsible in anyway whatsoever for the Subscriber's decision
      to invest in the Securities and the
Company;

            

    

     

    
      	
               
      

            	
              (w)

            	
              if
      the Subscriber is acquiring the Securities as a fiduciary or agent for one
      or more investor accounts, the Subscriber has sole investment discretion
      with respect to each such account, and the Subscriber has full power to
      make the foregoing acknowledgements, representations and agreements on
      behalf of such account;

            

    

     

    
      	
               
      

            	
              (x)

            	
              the
      Subscriber is not aware of any advertisement of any of the Securities and
      is not acquiring the Securities as a result of any form of general
      solicitation or general advertising including advertisements, articles,
      notices or other communications published in any newspaper, magazine or
      similar media or broadcast over radio or television, or any seminar or
      meeting whose attendees have been invited by general solicitation or
      general advertising; and

            

    

     

    
      	
               
      

            	
              (y)

            	
              no
      person has made to the Subscriber any written or oral
      representations:

            

    

     

    
      	
               
      

            	
              (i)

            	
              that
      any person will resell or repurchase any of the
  Securities,

            

    

     

    
      	
               
      

            	
              (ii)

            	
              that
      any person will refund the purchase price of any of the
      Securities,

            

    

     

    
      	
               
      

            	
              (iii)

            	
              as
      to the future price or value of any of the Securities,
  or

            

    

    
      
         

      

      
        - 7
-

        
          

        

      

      
         

      

    

     

    
      	
               
      

            	
              (iv)

            	
              that
      any of the Securities will be listed and posted for trading on any stock
      exchange or automated dealer quotation system or that application has been
      made to list and post any of the Securities of the Company on any stock
      exchange or automated dealer quotation system, except that currently
      certain market makers make market in the shares of the Company's common
      stock on the OTC Bulletin Board.

            

    

     

    5.2             
            In this
Subscription, the term "U.S. Person" shall have the meaning ascribed thereto in
Regulation S promulgated under the 1933 Act and for the purpose of the
Subscription includes any person in the United States.

     

    
      	
              6.

            	
              Acknowledgement and
      Waiver

            

    

     

    6.1                
         The Subscriber has
acknowledged that the decision to purchase the Securities was solely made on the
Company Information.  The Subscriber hereby waives, to the fullest
extent permitted by law, any rights of withdrawal, rescission or compensation
for damages to which the Subscriber might be entitled in connection with the
distribution of any of the Securities.

     

    
      	
              7.

            	
              Representations and
      Warranties will be Relied Upon by the
  Company

            

    

     

    7.1              
           The Subscriber
acknowledges that the acknowledgements, representations and warranties contained
herein are made by it with the intention that they may be relied upon by the
Company and its legal counsel in determining the Subscriber's eligibility to
purchase the Securities under applicable securities legislation, or (if
applicable) the eligibility of others on whose behalf it is contracting
hereunder to purchase the Securities under applicable securities
legislation.  The Subscriber further agrees that by accepting delivery
of the certificates representing the Securities, it will be representing and
warranting that the acknowledgements representations and warranties contained
herein are true and correct as of the date hereof and will continue in full
force and effect notwithstanding any subsequent disposition by the Subscriber of
such Securities.

     

    
      	
              8.

            	
              Resale
      Restrictions

            

    

     

    8.1               
          The Subscriber
acknowledges that any resale of the Securities will be subject to resale
restrictions contained in the securities legislation applicable to the
Subscriber or proposed transferee.  The Subscriber acknowledges that
the Securities have not been registered under the 1933 Act or the securities
laws of any state of the United States.  The Securities may not be
offered or sold in the United States unless registered in accordance with
federal securities laws and all applicable state securities laws or exemptions
from such registration requirements are available.

     

    
      	
              9.

            	
              Legending and
      Registration of Subject
Securities

            

    

     

    9.1              
           The Subscriber
hereby acknowledges that upon the issuance thereof, and until such time as the
same is no longer required under the applicable securities laws and regulations,
the certificates representing any of the Securities will bear a legend in
substantially the following form:

     

    THE
SECURITIES REPRESENTED HEREBY HAVE BEEN OFFERED IN AN OFFSHORE TRANSACTION TO A
PERSON WHO IS NOT A U.S. PERSON (AS DEFINED HEREIN) PURSUANT TO REGULATION S
UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE "1933
ACT").

    
      
         

      

      
        - 8
-

        
          

        

      

      
         

      

    

     

    NONE OF
THE SECURITIES REPRESENTED HEREBY HAVE BEEN REGISTERED UNDER THE 1933 ACT, OR
ANY U.S. STATE SECURITIES LAWS, AND, UNLESS SO REGISTERED, MAY NOT BE OFFERED OR
SOLD, DIRECTLY OR INDIRECTLY, IN THE UNITED STATES (AS DEFINED HEREIN) OR TO
U.S. PERSONS EXCEPT IN ACCORDANCE WITH THE PROVISIONS OF REGULATION S UNDER THE
1933 ACT, PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE 1933 ACT, OR
PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE
REGISTRATION REQUIREMENTS OF THE 1933 ACT AND IN EACH CASE ONLY IN ACCORDANCE
WITH APPLICABLE STATE SECURITIES LAWS.  IN ADDITION, HEDGING
TRANSACTIONS INVOLVING THE SECURITIES MAY NOT BE CONDUCTED UNLESS IN COMPLIANCE
WITH THE 1933 ACT.  "UNITED STATES" AND "U.S. PERSON" ARE AS DEFINED
BY REGULATION S UNDER THE 1933 ACT.

     

    9.2            
           
  The Subscriber hereby acknowledges and agrees to the Company making
a notation on its records or giving instructions to the registrar and transfer
agent of the Company in order to implement the restrictions on transfer set
forth and described in this Subscription.

     

    
      	
              10.

            	
              Costs

            

    

     

    10.1                         The
Subscriber acknowledges and agrees that all costs and expenses incurred by the
Subscriber (including any fees and disbursements of any special counsel retained
by the Subscriber) relating to the purchase of the Securities shall be borne by
the Subscriber.

     

    
      	
              11.

            	
              Governing
      Law

            

    

     

    11.1                         This
Subscription is governed by the laws of the State of California and the federal
laws of the United States applicable thereto.  The Subscriber, in its
personal or corporate capacity and, if applicable, on behalf of each beneficial
purchaser for whom it is acting, irrevocably attorns to the exclusive
jurisdiction of the Courts of the State of California.

     

    
      	
              12.

            	
              Survival

            

    

     

    12.1                         This
Subscription, including without limitation the representations, warranties and
covenants contained herein, shall survive and continue in full force and effect
and be binding upon the parties hereto notwithstanding the completion of the
purchase of the Securities by the Subscriber pursuant hereto.

     

    
      	
              13.

            	
              Assignment

            

    

     

    13.1                         This
Subscription is not transferable or assignable.

     

    
      	
              14.

            	
              Severability

            

    

     

    14.1                         The
invalidity or unenforceability of any particular provision of this Subscription
shall not affect or limit the validity or enforceability of the remaining
provisions of this Subscription.

    
      
         

      

      
        - 9
-

        
          

        

      

      
         

      

    

     

    
      	
              15.

            	
              Entire
      Agreement

            

    

     

    15.1                         Except
as expressly provided in this Subscription and in the agreements, instruments
and other documents contemplated or provided for herein, this Subscription
contains the entire agreement between the parties with respect to the sale of
the Securities and there are no other terms, conditions, representations or
warranties, whether expressed, implied, oral or written, by statute or common
law, by the Company or by anyone else.

     

    
      	
              16.

            	
              Notices

            

    

     

    16.1            
            All
notices and other communications hereunder shall be in writing and shall be
deemed to have been duly given if mailed or transmitted by any standard form of
telecommunication.  Notices to the Subscriber shall be directed to the
address on page 11 and notices to the Company shall be directed to it at the
first page of this Subscription.

     

    
      	
              17.

            	
              Counterparts and
      Electronic Means

            

    

     

    17.1           
             This
Subscription may be executed in any number of counterparts, each of which, when
so executed and delivered, shall constitute an original and all of which
together shall constitute one instrument.  Delivery of an executed
copy of this Subscription by electronic facsimile transmission or other means of
electronic communication capable of producing a printed copy will be deemed to
be execution and delivery of this Subscription as of the date hereinafter set
forth.

     

    [remainder
of page left intentionally blank]

    
      
         

      

      
        - 10
-

        
          

        

      

      
         

      

    

     

    IN WITNESS WHEREOF the
Subscriber has duly executed this Subscription as of the date hereinafter set
forth.

     

    DELIVERY AND REGISTRATION
INSTRUCTIONS

     

    
      	
              1.

            	
              Delivery
      - please deliver the certificates evidencing the Securities
      to:

            

    

     

    
      	
               
      

            	
              
                
      

               

              
                
      

            

    

     

     

    
      	
              2.

            	
              Registration
      - registration of the certificates which are to be delivered at closing
      should be made as follows:

            

    

     

    
    

    
      	
               
      

            	
              

                
      

              (name)

            

    

     

    
    

    
      	
               
      

            	
              

                
      

              (address)

            

    

     

    
      	
              3.

            	
              The
      undersigned hereby acknowledges that he or she will deliver to the Company
      all such additional completed forms in respect of the Subscriber's
      purchase of the Securities as may be required for filing with the
      appropriate securities commissions and regulatory
    authorities.

            

    

     

     

     

    
    

     

    
      	 	

              

                
      

              (Name
      of Subscriber – Please type or print)

              

                
      

              (Signature
      and, if applicable, Office)

               

              

                
      

              (Address
      of Subscriber)

               

              
                
      

              (City,
      State, and Zip Code of Subscriber)

               

              

                
       (Country of Subscriber)

               

              
                
       (Fax
      Number)

               

              

                
       (Number
      of Units to be Purchased)

               

              

                
      (Total
      Subscription Price)

            

    

     

    

    
      
         

      

      
        - 11
-

        
          

        

      

      
         

      

    

     

     

     

    A
C C E P T A N C E

     

    The
above-mentioned Subscription in respect of the Units is hereby accepted by DEEAS RESOURCES
INC.

     

    DATED at
______________________________, the _____ day of __________________,
2008.

     

    

    DEEAS
RESOURCES INC.

    

    

    

    Per:           _________________________________

    Authorized Signatory

    
      
         

      

      
        - 12
-

        
          

        

      

      
         

      

    

    SCHEDULE
A

    FORM
OF WARRANT

    

    NONE
OF THE SECURITIES REPRESENTED HEREBY HAVE BEEN REGISTERED UNDER THE UNITED
STATES SECURITIES ACT OF 1933, AS AMENDED (THE "1933 ACT"), OR ANY U.S.
STATE SECURITIES LAWS, AND, UNLESS SO REGISTERED, MAY NOT BE OFFERED OR SOLD,
DIRECTLY OR INDIRECTLY, IN THE UNITED STATES (AS DEFINED HEREIN) OR TO U.S.
PERSONS EXCEPT IN ACCORDANCE WITH THE PROVISIONS OF REGULATION S UNDER THE 1933
ACT, PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE 1933 ACT, OR
PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE
REGISTRATION REQUIREMENTS OF THE 1933 ACT AND IN EACH CASE ONLY IN ACCORDANCE
WITH APPLICABLE STATE SECURITIES LAWS.

    

    THESE
WARRANTS WILL EXPIRE AND BECOME NULL AND VOID

    AT 5:00
P.M. (WESTERN STANDARD TIME) ON ___________.

     

    SHARE
PURCHASE WARRANTS

    TO
PURCHASE COMMON SHARES OF

    DEEAS
RESOURCES INC.

     

    THIS IS
TO CERTIFY THAT ________________, (the
“Holder”) has the right to purchase, upon and subject to the terms and
conditions hereinafter referred to, up to ___________________________
(___________) fully paid and non-assessable common shares (the “Shares”)
in the capital of DEEAS RESOURCES INC. (the “Company”) for the term from
____________ until 5:00 p.m. (Western Standard Time) on ________________
(the “Expiry Date”) at a price per Share (the “Exercise Price”) of US$1.25 on
the terms and conditions attached hereto as Appendix “A” (the “Terms and
Conditions”).

     

    
      	
               
      

            	
              1.

            	
              ONE
      (1) WARRANT AND THE EXERCISE PRICE ARE REQUIRED TO PURCHASE ONE
      SHARE.  THIS CERTIFICATE REPRESENTS ______________________
      (__________)
      WARRANTS.

            

    

     

    
      	
               
      

            	
              2.

            	
              These
      Warrants are issued subject to the Terms and Conditions, and the Warrant
      Holder may exercise the right to purchase Shares only in accordance with
      those Terms and Conditions.

            

    

     

    
      	
               
      

            	
              3.

            	
              Nothing
      contained herein or in the Terms and Conditions will confer any right upon
      the Holder hereof or any other person to subscribe for or purchase any
      Shares at any time subsequent to the Expiry Date, and from and after such
      time, this Warrant and all rights hereunder will be void and of no
      value.

            

    

     

    IN
WITNESS WHEREOF the Company has executed this Warrant Certificate this ____ day
of _________, 2008.

     

     

    
    

     

    
      	 	

              DEEAS
      RESOURCES INC.

               

               

              Per:_____________________________________

              Authorized
      Signatory

            

    

     

     

     

     

    
      
         

      

      
        - 13
-

        
          

        

      

      
         

      

    

     

    PLEASE
NOTE THAT ALL SHARE CERTIFICATES MUST BE LEGENDED AS FOLLOWS DURING THE CURRENCY
OF APPLICABLE HOLD PERIODS:

     

    THE
SECURITIES REPRESENTED HEREBY HAVE BEEN OFFERED IN AN OFFSHORE TRANSACTION TO A
PERSON WHO IS NOT A U.S. PERSON (AS DEFINED HEREIN) PURSUANT TO REGULATION S
UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE "1933
ACT").

     

    NONE
OF THE SECURITIES REPRESENTED HEREBY HAVE BEEN REGISTERED UNDER THE 1933 ACT, OR
ANY U.S. STATE SECURITIES LAWS, AND, UNLESS SO REGISTERED, MAY NOT BE OFFERED OR
SOLD, DIRECTLY OR INDIRECTLY, IN THE UNITED STATES (AS DEFINED HEREIN) OR TO
U.S. PERSONS EXCEPT IN ACCORDANCE WITH THE PROVISIONS OF REGULATION S UNDER THE
1933 ACT, PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE 1933 ACT, OR
PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE
REGISTRATION REQUIREMENTS OF THE 1933 ACT AND IN EACH CASE ONLY IN ACCORDANCE
WITH APPLICABLE STATE SECURITIES LAWS.  IN ADDITION, HEDGING
TRANSACTIONS INVOLVING THE SECURITIES MAY NOT BE CONDUCTED UNLESS IN COMPLIANCE
WITH THE 1933 ACT.  "UNITED STATES" AND "U.S. PERSON" ARE AS DEFINED
BY REGULATION S UNDER THE 1933 ACT.

     

     

     

     

    
 

    
      
         

      

      
        - 14
-

        
          

        

      

      
         

      

    

    APPENDIX
“A”

    

    TERMS AND
CONDITIONS dated ___________________, attached to the Warrants issued by DEEAS
RESOURCES INC.

     

    
      	
               
      

            	
              INTERPRETATION

            

    

     

    
      	
              (a)

            	
              Definitions

            

    

     

    In these
Terms and Conditions, unless there is something in the subject matter or context
inconsistent therewith:

     

    
      	
               
      

            	
              (i)

            	
              “Company”
      means DEEAS RESOURCES INC. until a successor corporation will have become
      such as a result of consolidation, amalgamation or merger with or into any
      other corporation or corporations, or as a result of the conveyance or
      transfer of all or substantially all of the properties and estates of the
      Company as an entirety to any other corporation and thereafter “Company”
      will mean such successor
corporation;

            

    

     

    
      	
               
      

            	
              (ii)

            	
              “Company’s
      Auditors” means an independent firm of accountants duly appointed as
      auditors of the Company;

            

    

     

    
      	
               
      

            	
              (iii)

            	
              “Director”
      means a director of the Company for the time being, and reference, without
      more, to action by the directors means action by the directors of the
      Company as a Board, or whenever duly empowered, action by an executive
      committee of the Board;

            

    

     

    
      	
               
      

            	
              (iv)

            	
              “herein”,
      “hereby” and similar expressions refer to these Terms and Conditions as
      the same may be amended or modified from time to time; and the expression
      “Article” and “Section,” followed by a number refer to the specified
      Article or Section of these Terms and
  Conditions;

            

    

     

    
      	
               
      

            	
              (v)

            	
              “person”
      means an individual, corporation, partnership, trustee or any
      unincorporated organization and words importing persons have a similar
      meaning;

            

    

     

    
      	
               
      

            	
              (vi)

            	
              “shares”
      means the common shares in the capital of the Company as constituted at
      the date hereof and any shares resulting from any subdivision or
      consolidation of the shares;

            

    

     

    
      	
               
      

            	
              (vii)

            	
              “Warrant
      Holders” or “Holders” means the holders of the Warrants;
    and

            

    

     

    
      	
               
      

            	
              (viii)

            	
              “Warrants”
      means the warrants of the Company issued and presently authorized and for
      the time being outstanding.

            

    

     

    
      	
              (b)

            	
              Gender

            

    

     

    Words
importing the singular number include the plural and vice versa and words
importing the masculine gender include the feminine and neuter
genders.

     

    
      	
              (c)

            	
              Interpretation
      not affected by Headings

            

    

     

    The
division of these Terms and Conditions into Articles and Sections, and the
insertion of headings are for convenience of reference only and will not affect
the construction or interpretation thereof.

    
      
         

      

      
        - 15
-

        
          

        

      

      
         

      

    

     

    
      	
              (d)

            	
              Applicable
      Law

            

    

     

    The
Warrants will be exclusively construed in accordance with the laws of the State
of California.

     

    
      	
              2.

            	
              ISSUE
      OF WARRANTS

            

    

     

    
      	
              (a)

            	
              Additional
      Warrants

            

    

     

    The
Company may at any time and from time to time issue additional warrants or grant
options or similar rights to purchase shares of its capital stock.

     

    
      	
              (b)

            	
              Warrant
      to Rank Pari
      Passu

            

    

     

    All
Warrants and additional warrants, options or similar rights to purchase shares
from time to time issued or granted by the Company, will rank pari passu whatever may be
the actual dates of issue or grant thereof, or of the dates of the certificates
by which they are evidenced.

     

    
      	
              (c)

            	
              Issue
      in substitution for Lost Warrants

            

    

     

    
      	
               
      

            	
              (i)

            	
              In
      case a Warrant becomes mutilated, lost, destroyed or stolen, the Company,
      at its discretion, may issue and deliver a new Warrant of like date and
      tenor as the one mutilated, lost, destroyed or stolen, in exchange for and
      in place of and upon cancellation of such mutilated Warrant, or in lieu
      of, and in substitution for such lost, destroyed or stolen Warrant and the
      substituted Warrant will be entitled to the benefit hereof and rank
      equally in accordance with its terms with all other Warrants issued or to
      be issued by the Company.

            

    

     

    
      	
               
      

            	
              (ii)

            	
              The
      applicant for the issue of a new Warrant pursuant hereto will bear the
      cost of the issue thereof and in case of loss, destruction or theft
      furnish to the Company such evidence of ownership and of loss,
      destruction, or theft of the Warrant so lost, destroyed or stolen as will
      be satisfactory to the Company in its discretion and such applicant may
      also be required to furnish indemnity in amount and form satisfactory to
      the Company in its discretion, and will pay the reasonable charges of the
      Company in connection therewith.

            

    

     

    
      	
              (d)

            	
              Warrant
      Holder Not a Shareholder

            

    

     

    The
holding of a Warrant will not constitute the Holder thereof a shareholder of the
Company, nor entitle him to any right or interest in respect thereof except as
in the Warrant expressly provided.

     

    
      	
              3.

            	
              NOTICE

            

    

     

    
      	
              (a)

            	
              Notice
      to Warrant Holders

            

    

     

    Any
notice required or permitted to be given to the Holders will be in writing and
may be given by prepaid registered post, electronic facsimile transmission or
other means of electronic communication capable of producing a printed copy to
the address of the Holder appearing on the Holder’s Warrant or to such other
address as any Holder may specify by notice in writing to the Company, and any
such notice will be deemed to have been given and received by the Holder to whom
it was addressed if mailed, on the third day following the mailing thereof, if
by facsimile or other electronic communication, on successful transmission, or,
if delivered, on delivery; but if at the time or mailing or between the time of
mailing and the third business day thereafter there is a strike, lockout, or
other labour disturbance affecting postal service, then the notice will not be
effectively given until actually delivered.

    
      
         

      

      
        - 16
-

        
          

        

      

      
         

      

    

     

    
      	
              (b)

            	
              Notice
      to the Company

            

    

     

    Any
notice required or permitted to be given to the Company will be in writing and
may be given by prepaid registered post, electronic facsimile transmission or
other means of electronic communication capable of producing a printed copy to
the address of the Company set forth below or such other address as the Company
may specify by notice in writing to the Holder, and any such notice will be
deemed to have been given and received by the Company to whom it was addressed
if mailed, on the third day following the mailing thereof, if by facsimile or
other electronic communication, on successful transmission, or, if delivered, on
delivery; but if at the time or mailing or between the time of mailing and the
third business day thereafter there is a strike, lockout, or other labour
disturbance affecting postal service, then the notice will not be effectively
given until actually delivered:

     

    DEEAS
RESOURCES INC.

    1214 –
117 West 9th Street

    Los
Angeles, CA 90015

    Attention:
President

     

    
      	
              4.

            	
              EXERCISE
      OF WARRANTS

            

    

     

    
      	
              (a)

            	
              Method
      of Exercise of Warrants

            

    

     

    The right
to purchase shares conferred by the Warrants may be exercised by the Holder
surrendering the Warrant Certificate representing same, with a duly completed
and executed subscription in the form attached hereto as Appendix "B" and a bank
draft or certified cheque payable to the Company for the purchase price in
lawful money of the United States of America, to the Company at the address set
forth in, or from time to time specified by the Company pursuant to,
Section 3(b).

     

    
      	
              (b)

            	
              Effect
      of Exercise of Warrants

            

    

     

    
      	
               
      

            	
              (i)

            	
              Upon
      surrender and payment as aforesaid the shares so subscribed for will be
      deemed to have been issued and such person or persons will be deemed to
      have become the Holder or Holders of record of such shares on the date of
      such surrender and payment, and such shares will be issued at the
      subscription price in effect on the date of such surrender and
      payment.

            

    

     

    
      	
               
      

            	
              (ii)

            	
              Within
      ten business days after surrender and payment as aforesaid, the Company
      will forthwith cause to be delivered to the person or persons in whose
      name or names the shares so subscribed for are to be issued as specified
      in such subscription or mailed to him or them at his or their respective
      addresses specified in such subscription, a certificate or certificates
      for the appropriate number of shares not exceeding those which the Warrant
      Holder is entitled to purchase pursuant to the Warrant
      surrendered.

            

    

     

    
      	
              (c)

            	
              Subscription
      for Less Than Entitlement

            

    

     

    The
Holder of any Warrant may subscribe for and purchase a number of shares less
than the number which he is entitled to purchase pursuant to the surrendered
Warrant. In the event of any purchase of a number of shares less than the number
which can be purchased pursuant to a Warrant, the Holder thereof upon exercise
thereof will in addition be entitled to receive a new Warrant in respect of the
balance of the shares which he was entitled to purchase pursuant to the
surrendered Warrant and which were not then purchased.

    
      
         

      

      
        - 17
-

        
          

        

      

      
         

      

    

     

    
      	
              (d)

            	
              Warrants
      for Fractions of Shares

            

    

     

    To the
extent that the Holder of any Warrant is entitled to receive on the exercise or
partial exercise thereof a fraction of a share, such right may be exercised in
respect of such fraction only in combination with another Warrant or other
Warrants which in the aggregate entitle the Holder to receive a whole number of
such shares.

     

    
      	
              (e)

            	
              Expiration
      of Warrants

            

    

     

    After the
expiration of the period within which a Warrant is exercisable, all rights
thereunder will wholly cease and terminate and such Warrant will be void and of
no effect.

     

    
      	
              (f)

            	
              Time
      of Essence

            

    

     

    Time will
be of the essence hereof.

     

    
      	
              (g)

            	
              Subscription
      Price

            

    

     

    Each
Warrant is exercisable at a price per share (the “Exercise Price”) of
US$1.25.  One (1) Warrant and the Exercise Price are required to
subscribe for each share during the term of the Warrants.

     

    
      	
              (h)

            	
              Adjustment
      of Exercise Price

            

    

     

    
      	
               
      

            	
              (i)

            	
              The
      Exercise Price and the number of shares deliverable upon the exercise of
      the Warrants will be subject to adjustment in the event and in the manner
      following:

            

    

     

    
      	
               
      

            	
              A.

            	
              If
      and whenever the shares at any time outstanding are subdivided into a
      greater or consolidated into a lesser number of shares the Exercise Price
      will be decreased or increased proportionately as the case may be; upon
      any such subdivision or consolidation the number of shares deliverable
      upon the exercise of the Warrants will be increased or decreased
      proportionately as the case may be.

            

    

     

    
      	
               
      

            	
              B.

            	
              In
      case of any capital reorganization or of any reclassification of the
      capital of the Company or in the case of the consolidation, merger or
      amalgamation of the Company with or into any other Company (hereinafter
      collectively referred to as a “Reorganization”), each Warrant will after
      such Reorganization confer the right to purchase the number of shares or
      other securities of the Company (or of the Company’s resulting from such
      Reorganization) which the Warrant Holder would have been entitled to upon
      Reorganization if the Warrant Holder had been a shareholder at the time of
      such Reorganization.

            

    

     

    In any
such case, if necessary, appropriate adjustments will be made in the application
of the provisions of this Article Four relating to the rights and interest
thereafter of the Holders of the Warrants so that the provisions of this
Article Four will be made applicable as nearly as reasonably possible to
any shares or other securities deliverable after the Reorganization on the
exercise of the Warrants.

    
      
         

      

      
        - 18
-

        
          

        

      

      
         

      

    

     

    The
subdivision or consolidation of shares at any time outstanding into a greater or
lesser number of shares (whether with or without par value) will not be deemed
to be a Reorganization for the purposes of this clause 4(h)(i)B.

     

    
      	
               
      

            	
              (ii)

            	
              The
      adjustments provided for in this Section 4(h) are cumulative and will
      become effective immediately after the record date or, if no record date
      is fixed, the effective date of the event which results in such
      adjustments.

            

    

     

    
      	
              (i)

            	
              Determination
      of Adjustments

            

    

     

    If any
questions will at any time arise with respect to the Exercise Price or any
adjustment provided for in Section 4.h, such questions will be conclusively
determined by the Company’s Auditors, or, if they decline to so act any other
firm of certified public accountants registered with the Public Company
Accounting Oversight Board that the Company may designate and who will have
access to all appropriate records and such determination will be binding upon
the Company and the Holders of the Warrants.

     

    
      	
              5.

            	
              WAIVER
      OF CERTAIN RIGHTS

            

    

     

    
      	
              (a)

            	
              Immunity
      of Shareholders, etc.

            

    

     

    The
Warrant Holder, as part of the consideration for the issue of the Warrants,
waives and will not have any right, cause of action or remedy now or hereafter
existing in any jurisdiction against any past, present or future incorporator,
shareholder, Director or Officer (as such) of the Company for the issue of
shares pursuant to any Warrant or on any covenant, agreement, representation or
warranty by the Company herein contained or in the Warrant.

     

    
      	
              6.

            	
              MODIFICATION
      OF TERMS, MERGER, SUCCESSORS

            

    

     

    
      	
              (a)

            	
              Modification
      of Terms and Conditions for Certain
Purposes

            

    

     

    From time
to time the Company may, subject to the provisions of these presents, modify the
Terms and Conditions hereof, for the purpose of correction or rectification of
any ambiguities, defective provisions, errors or omissions herein.

     

    DATED as
of the date first above written in these Terms and Conditions.

     

    
    

     

    
      	 	

              DEEAS
      RESOURCES INC.

               

              
By:___________________________________

              Authorized
      Signatory

            

    

     

    
      
         

      

      
        - 19
-

        
          

        

      

      
         

      

    

     

    APPENDIX
B

     

    WARRANT EXERCISE
FORM

     

    
      	
              TO:

            	
              DEEAS
      RESOURCES INC.

            

    

    
      	
               
      

            	
              1214
      – 117 West 9th Street

            

    

    
      	
               
      

            	
              Los
      Angeles, CA 90015

            

    

     

    The
undersigned Holder of the within Warrants hereby subscribes for
___________________ common shares (the “Shares”) of DEEAS RESOURCES INC.
(the “Company) pursuant to the within Warrants at US$1.25 per Share on the terms
specified in the said Warrants.  This subscription is accompanied by a
certified cheque or bank draft payable to or to the order of the Company for the
whole amount of the purchase price of the Shares.  The undersigned
Holder represents that, at the time of exercise of the Warrants, all of the
representations and warranties contained in the Agreement between the Company
and the undersigned Holder pursuant to which these Warrants were issued are true
and accurate.  The undersigned hereby directs that the Shares be
registered as follows:

    

    
      	
              NAME(S) IN FULL

            	 
      	
              ADDRESS(ES)

            	 
      	
              NUMBER OF SHARES

            
	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	
              TOTAL:

            	 
      	 
      

    

     

    (Please
print full name in which share certificates are to be issued, stating whether
Mr., Mrs. or Miss is applicable).

     

    DATED
this _____ day of ______________________, 200___.

     

    In the
presence of:

     

     

    
      	
              

                
      

              Signature
      of Witness 

            	
              

                
      

              Signature
      of Warrant Holder

            

    

     

     

                                                                              

    Please
print below your name and address in full.

     

    
    

     

    
      	Name
      (Mr./Mrs./Miss) 	
               

            
	 	 
	Address 	 
	 	
               

               

            

    

     

                                                                                                                                           

    

     

    INSTRUCTIONS FOR
SUBSCRIPTION

     

    The
signature to the subscription must correspond in every particular with the name
written upon the face of the Warrant without alteration or enlargement or any
change whatever.  If there is more than one subscriber, all must
sign.

     

    In the
case of persons signing by agent or attorney or by personal representative(s),
the authority of such agent, attorney or representative(s) to sign must be
proven to the satisfaction of the Company.

     

    If the
Warrant certificate and the form of subscription are being forwarded by mail,
registered mail must be employed.

     

    
 

    
      
         

      

      
        - 20
-

        
          

        

      

      
         

      

    

     

    SCHEDULE
B

    FORM
OF PROXY

     

    IRREVOCABLE
PROXY

     

    Deeas
Resources, Inc., a Nevada corporation (the “Company”), and ______________ (the
“Subscriber”), have entered into a Subscription Agreement (the “Agreement”),
dated ____________, in connection with the sale and issuance by the Company to
the Subscriber of  Units consisting of shares of the Company’s common
stock (“Common Stock”) and warrants to purchase Common Stock.  Pursuant to the Agreement,
Subscriber has received warrants to purchase _________ shares
of  Common Stock (the “Warrant Shares”).  As an inducement for the
Company to enter into the Agreement, Subscriber hereby irrevocably (to the
fullest extent permitted by law) appoints and constitutes Patrick Bertagna the
attorney and proxy of the Subscriber with full power of substitution and
resubstitution, to the full extent of the Subscriber with respect to the Warrant
Shares.  
Subscriber agrees not to grant any subsequent proxies with respect to the
Warrant Shares until after the Expiration Date (as defined
below).

     

    The attorney and proxy named above will
be empowered, and may exercise this proxy, to vote the Warrant Shares, at any
time and from time to time, in his sole and absolute discretion and without
notice to the Subscriber, at any meeting of the stockholders of the Company,
however called, or in any written action by consent of stockholders of the
Company, with respect to all matters brought before a vote of the stockholders,
including a vote for the election of directors.

     

    This proxy shall be binding upon the
successors and assigns of Subscriber.

     

    Subscriber hereby waives any right to
make any claim against Patrick Bertagna that may arise, directly or indirectly,
as a result of Mr. Bertagna’s voting of any of the Warrant Shares by virtue of
this proxy.

     

    Any term or provision of this proxy
which is invalid or unenforceable in any jurisdiction shall, as to that
jurisdiction, be ineffective to the extent of such invalidity or
unenforceability without rendering invalid or unenforceable the remaining terms
and provisions of this proxy or affecting the validity or enforceability of any
of the terms or provisions of this proxy in any other
jurisdiction.  If any provision of this proxy is so broad as to be
unenforceable, the provision shall be interpreted to be only so broad as is
enforceable.  Subscriber hereby affirms that this proxy is given for
the purpose of and should be construed so as to effectuate the purposes set
forth above, and that this proxy is coupled with an interest and is
irrevocable during the term
hereof.

     

    This proxy shall terminate upon the
earlier of the seventh anniversary of the date hereof or the date the Warrant
Shares are resold on the public market through the over-the-counter market or a
national securities exchange (the “Expiration Date”).

     

    [The remainder of the page left
intentionally blank]

    
      
         

      

      
        - 21
-

        
          

        

      

      
         

      

    

     

    IN
WITNESS WHEREOF, the Subscriber has executed this Irrevocable Proxy as of the
___ day of _______________, 2008.

     

     

     

    
      	
              If
      a Corporation, Partnership or Other Entity:

            	
              If
      an Individual:

            
	
               

               

              
                
      

              Print
      of Type Name of Entity

               

              
                
      Signature
      of Authorized Signatory

               

              
                
      

              Type
      of Entity

            	
               

               

              

                
      Signature

               

              
                
      

              Print
      or Type Name

               

            

    

     

     

     

     

     

    - 22 -Unassociated Document

    Exhibit 10.6

    

    EXCLUSIVE LICENSE
AGREEMENT

    

    

    THIS AGREEMENT, entered into and
effective as of the 15th day of September, 2007 (the "Effective Date") by and
between GLOBAL TREK XPLORATION, INC., a California corporation having its
principal place of business at 117 West 9th Street, Suite Number 1214, Los
Angeles, CA 90015 (hereinafter referred to as "LICENSOR") and MY ATHLETE LLC, a
Delaware limited liability company having a principal place of business at 31
Flat Rock Drive, Easton, CT 06612 (hereinafter referred to as
"LICENSEE");

    

    RECITALS

    

    WHEREAS, LICENSOR is the owner of all
right, title and interest to the Licensed Patent Rights (as defined below), has
the right to grant the licenses contained herein and desires to grant an
exclusive license to LICENSOR to make, have made, use, sell and offer for sale
Licensed Products (as defined below) in the Territory (as defined below) on the
terms and conditions set forth in this License Agreement; and

    

    WHEREAS, LICENSEE desires to obtain
from LICENSOR a license to make, have made, use, sell and offer for
sale  Licensed Products (as hereinafter defined) under the Licensed
Patent Rights (as hereinafter defined) in the Territory (as hereinafter
defined);

    NOW, THEREFORE, in consideration of the
foregoing premises and of the mutual covenants, promises and agreements set
forth herein, LICENSOR and LICENSEE hereby mutually agree as
follows:

    

    ARTICLE I -
GENERAL

    

    1.01     All
capitalized terms used in this Agreement (other than the names of parties and
Article headings) shall have the meanings established for such terms
herein.

    

    1.02     The
Schedules attached to this License Agreement are hereby incorporated into and
made a part of this License Agreement.

    

    
      
        
           

        

        
           

          
            

          

        

        
           

        

      

    

     

    ARTICLE II -
DEFINITIONS

    

    2.01     "Channel
of Trade" shall mean:  non-motorized sports, including without
limitation non-motorized athletic activity, non-motorized sports competitions
and training for non-motorized sports competitions.

    

    2.02     "Licensed
Patent Rights" shall mean the United States patents and United States patent
applications and foreign patents and foreign patent applications in the Field
(as defined below) owned and/or controlled by LICENSOR, including those set
forth in Schedule 2.02 hereto, and all United States and foreign pending or
issued divisions, continuations, continuations-in-part, reexaminations, reissues
and extensions thereof covering the same or similar subject matter, together
with all improvements, modifications, upgrades and enhancements.  The
parties herby agree that improvements to the Licensed Patent Rights shall
include the biometrics technology.

    

    2.03     "Licensed
Products" shall mean: any product utilizing the Licensed Patent
Rights.

    

    2.04     "Territory"
shall mean the world.

    

    2.05     An
"Affiliate" of LICENSOR or LICENSEE respectively shall mean any corporation,
partnership, individual or other entity which directly or indirectly controls,
is controlled by, or is under common control with, that party.

    

    2.06     The
“Effective Date” shall mean September 15, 2007.

    

    2.07     The
“Term” shall mean the period commencing on the date the LICENSEE places its
first production order for Licensed Products with LICENSOR and ending on the
date five (5) years after said first production order is placed unless extended
in accordance with Article VII of this License Agreement.

    

    2.08     The
“Letter of Intent” is the document entitled “Binding Letter of Intent” signed by
LICENSOR and LICENSEE a copy of which is attached hereto as Schedule
2.08.

    

    

    
      
        
           

        

        
          2

          
            

          

        

        
           

        

      

    

    

    

     

    2.09     The
“Field” shall mean GPS position determination and transmission of said location
determination data to a central monitoring station which disseminates the data
through software, wireless communications, land based wire systems and/or the
internet.

    

    ARTICLE III - LICENSE
GRANT

    

    3.01     Subject
to all of the terms and provisions of this Agreement, LICENSOR grants to
LICENSEE and its Affiliates an exclusive license to make, have made, use, sell
and offer for sale Licensed Products in the Channel of Trade in the
Territory.

    

    3.02     Notwithstanding
any provision herein to the contrary, LICENSOR shall not grant to any third
party nor shall LICENSOR utilize itself the Licensed Patent Rights in the
Channel of Trade during the Term and any extended Term of this License
Agreement.

    

    ARTICLE IV – CONSIDERATION,
ROYALTIES AND REPORTS

    

    4.01     In
consideration for the license granted to LICENSEE hereunder, LICENSEE and
LICENSOR respectively shall each provide the consideration as set forth in
Schedule 4.01 of this License Agreement.

    

    4.02     LICENSOR
and LICENSEE agree that the consideration for the license granted hereunder have
been negotiated at arms length and that both parties consider the consideration
received by both parties to be fair and reasonable.

    

    4.03     During
the term of this Agreement, LICENSOR shall, and shall cause any of its
Affiliates to, maintain complete and accurate records of all fees due to
LICENSOR under this License Agreement.  LICENSOR shall deliver to
LICENSEE within ten (10) days after the last day of each month that this License
Agreement is in effect, a true and accurate written report, certified as true
and correct by an officer of LICENSOR, setting forth the gross dollar amounts
received by LICENSOR and Affiliates of LICENSOR for each category of fee due to
LICENSEE as set forth in Schedule 4.01 of this License Agreement; and the
calculation of the amounts paid and/or due to LICENSEE from
LICENSOR.

    

    

    
      
        
           

        

        
          3

          
            

          

        

        
           

        

      

    

    

    

     

    4.04     Simultaneously
with providing the report required in Section 4.03, to the extent such amounts
have not already been paid to LICENSEE, LICENSOR shall pay to LICENSEE in United
States Dollars the entire amount due to LICENSEE for the month on account of
which such report is made and submitted.

    

    4.05     LICENSEE
shall have the right, at its own expense, to request an audit of any quarterly
period ending not more than three (3) years prior to the date of such request,
and to appoint an independent accountant to perform such audit.  The
independent accountant appointed by LICENSEE shall have access to the business
records of LICENSOR and Affiliates of LICENSOR which are necessary or
appropriate to verify the amounts payable to LICENSEE pursuant to this
Agreement.  The independent accountant shall keep confidential
information received from LICENSOR or its Affiliates, except for information
necessary for disclosure to LICENSEE to report on the accuracy of LICENSOR's
reports.  In the event that a deficiency of three percent (3%) or more
is discovered between the actual payment due to LICENSEE and the amount of the
payment specified in the written report submitted by LICENSOR to LICENSEE
pursuant to Section 4.03, LICENSOR shall bear the costs of the audit conducted
by LICENSEE.

    

    4.06     All
payments of amounts due to LICENSEE pursuant to any of the provisions of this
Agreement shall be made to LICENSEE by wire transfer at the principal place of
business of LICENSEE as specified in or pursuant to the provisions of Article
XIII of this Agreement.

    

    4.07     No
amounts due hereunder shall be withheld by LICENSOR or Affiliates of LICENSOR,
whether due to a claim of set-off or any other claim by LICENSOR of any amount
due to LICENSOR from LICENSEE.

    

    

    

    

    
      
        
           

        

        
          4

          
            

          

        

        
           

        

      

    

    

    

     

    ARTICLE V - REPRESENTATIONS
AND WARRANTIES

    

    5.01     LICENSOR
represents and warrants that it has the full authority to grant to LICENSEE the
rights with respect to the Licensed Patent Rights in accordance with the
provisions of this License Agreement and that is has secured the necessary
assignments, consents and approvals from the inventors of the Licensed Patent
Rights necessary to enter into this License Agreement and to grant to LICENSEE
the rights so granted hereunder.

    

    5.02     LICENSOR
represents and warrants to LICENSEE that the devices sold to licensee hereunder
shall be of merchantable quality and fit for their intended
purpose.

     

    5.03     LICENSOR
represents and warrants to LICENSEE:

    

    
      (a)    
that the
Licensed Patent Rights are valid and enforceable and that LICENSOR shall pay all
necessary maintenance fees and prosecute diligently all currently filed
corresponding U.S. and foreign patent applications encompassing the Licensed
Patent Rights until issue or final rejection;

    

    

    
      (b)    
that the
devices utilizing the Licensed Patent Rights sold by LICENSOR to LICENSEE under
this License Agreement are and will be free from infringement of patents of
third persons;

    

     

    (c)    
LICENSOR
shall furnish to LICENSEE technical or manufacturing information concerning the
practice of the Licensed Patent Rights and improvements to the Licensed Patent
Rights developed by LICENSOR;

    

    
      (d)    
LICENSOR
shall provide such technical assistance to LICENSEE sufficient to enable
LICENSEE to practice optimally the Licensed Patent Rights;

    

    

    
      (e)    
LICENSOR
shall promptly notify LICENSEE of the issuance of any patents encompassing the
Licensed Patent Rights or and shall notify LICENSEE of any improvements thereto;
and

    

    

    

    
      
        
           

        

        
          5

          
            

          

        

        
           

        

      

    

    

    

     

    
      (f)    
LICENSOR
shall consult with LICENSEE concerning the wisdom of (i) pursuing pending patent
applications, (ii) maintaining patents in force through the payment of
maintenance fees and (iii) filing additional patent applications and the parties
shall attempt to reach a joint decision on the foregoing matters, provided
however, that if LICENSOR elects not to maintain or pursue patent protection on
any of the Licensed Patent Rights then LICENSEE shall have the option to pursue
such Licensed Patent Rights in its own name and at is sole expense with LICENSEE
providing reasonable cooperation in support of LICENSOR’s
efforts.

    

    

    5.04     LICENSEE
represents and warrants that it has the full authority to enter into this
License Agreement and, where applicable, has obtained all necessary approvals to
enter into the undertakings contained herein.

    

    ARTICLE VI - TRANSFERABILITY
OF RIGHTS AND OBLIGATIONS

    

    6.01     LICENSOR
and LICENSEE may assign their respective rights and obligations under this
License Agreement only upon a writing signed by the other party consenting to
such assignment, which consent shall not be unreasonably
withheld.  Notwithstanding the foregoing sentence, in the event of a
sale of substantially all of the assets of a party, the other party's consent to
assignment will not be withheld, except based on a reasonable basis to conclude
that the party to which this Agreement will be assigned lacks the capacity to
fulfill the obligations and undertakings of the party seeking to assign this
License Agreement.  Any attempt to transfer, assign or sublicense
which is not in accordance with the terms of this License Agreement shall be
void ab
initio.

    

    6.02     The
provisions of this Agreement shall be binding upon and inure to the benefit of
all successors and permitted assigns of the parties hereto.

    

    

    

    
      
        
           

        

        
          6

          
            

          

        

        
           

        

      

    

    

    

     

    ARTICLE VII – EXTENSION OF
TERM; TERMINATION FOR BREACH

    

    7.01     The
Term of this License Agreement shall automatically renew for an additional five
(5) year term upon LICENSEE’s purchase of the number of devices in accordance
with paragraph 3 of Schedule 4.01 to this License Agreement.

    

    7.02     Prior
to the expiration of the Term of this Agreement, either party may, at its
option, terminate this Agreement and the license granted hereunder upon prior
written notice to the other party if that party fails to pay within fifteen (15)
days of the due date any amount required to be paid hereunder or if the other
party breaches any of the other covenants or provisions of this
Agreement.  Notwithstanding the foregoing, unless the breach is not
capable of being cured, the breaching party shall have fifteen (15) days from
receipt of notice to pay such overdue amount in full or to cure such other
breach and thereby avoid termination under this
Section.  If:  (1) the breach is not capable of being cured;
(2) the overdue amount is not paid with interest at the rate of one percent (1%)
per month (but not to exceed the maximum amount of interest permitted by
applicable law) from the date due to the date paid; or (3) such other breach is
not cured within fifteen (15) days, then this Agreement and all licenses granted
hereby will terminate immediately and automatically without any further notice
or action on the part of the non-breaching party.  In the event that
the interest rate specified in this Section exceeds the maximum rate of interest
permitted by applicable law, such rate shall in such instance be reduced to the
maximum permitted rate.

    

    7.03     In
the event that LICENSOR shall become insolvent; be declared bankrupt;
voluntarily file or have filed against it a petition for bankruptcy or
reorganization; unless such petition is dismissed within ninety (90) days of
filing; enter into an arrangement for the benefit of creditors; enter into a
procedure of winding up to dissolution; or should a trustee or receiver be
appointed for its respective business assets or operations, LICENSEE shall be
deemed to have a fully paid up exclusive license to the Licensed Patent Rights
in the Channel of Trade in the Territory without the requirement of any further
payment or action on the part of LICENSEE.  Notwithstanding this
Section 7.03, it is acknowledged and agreed that in the event of insolvency, if
it so elects, LICENSOR shall be given ninety (90) days to undertake a
reorganization and, so long as LICENSEE’s rights and obligations under this
License Agreement are not affected by said reorganization, the terms and
provisions of this License Agreement shall remain in full force and
effect.

    

    

    
      
        
           

        

        
          7

          
            

          

        

        
           

        

      

    

    

    

     

    7.04     Except
as otherwise specifically provided herein, expiration or termination of this
Agreement and of the license granted hereby for any reason shall be without
prejudice to:

     

    (a)    
the right
of LICENSOR and LICENSEE to receive all payments accrued and unpaid as of the
effective date of such termination or to receive any payments or other amounts
which may accrue after the date of termination; and

    

    
      (b)    
any other
rights, remedies or obligations which LICENSOR or LICENSEE may then or
thereafter have under this Agreement or otherwise.

    

    

    7.05     Termination
of this Agreement is without prejudice to either party to avail itself of all
remedies available in law and equity that are not inconsistent with the
provisions of this License Agreement.

    

    7.06     The
provisions of Sections 7.03 and Section 7.05 shall survive termination or
expiration of this Agreement.

    

    ARTICLE VIII - THIRD-PARTY
INFRINGEMENT

    

    8.01     LICENSEE
shall promptly notify LICENSOR after becoming aware of any third-party
infringement of the License Patent Rights hereunder.  After allowing
for a reasonable time to determine that infringement of the Licensed Patent
Rights is occurring, LICENSOR shall take all necessary steps to remedy the
infringement, including the institution of litigation if necessary.

    

    

    
      
        
           

        

        
          8

          
            

          

        

        
           

        

      

    

    

    

     

    8.02     LICENSOR
shall have the sole right to institute and control the prosecution of a suit or
to take any other action for infringement of any of the Licensed Patent
Rights.  LICENSEE agrees to take no action with respect to any
third-party infringement of Licensed Patent Rights unless expressly authorized
to do so in writing by LICENSOR.  LICENSEE agrees to, and to cause
each of the Affiliates of LICENSEE to, cooperate with LICENSOR in all respects,
to make employees of LICENSEE and any Affiliate of LICENSEE available to
testify, to make available any records, papers, information, specimens and the
like, and to join in any such suit as a voluntary plaintiff, upon LICENSOR's
request.  Any recovery or settlement obtained as a result of such suit
or other action shall be retained by LICENSOR for its own use and benefit, and
LICENSEE shall have no rights whatsoever in any such recovery or settlement,
however, LICENSOR agrees to provide reasonable compensation to LICENSEE and/or
its Affiliates for costs incurred by LICENSEE and/or its Affiliates for making
employees available to testify and/or making available any documentary
evidence.   No settlement or termination of litigation shall be
entered into by LICENSOR that conflicts with the rights granted to LICENSEE
under this License Agreement.

    

    8.03     Neither
LICENSEE nor LICENSOR shall foster or encourage any infringement of the Licensed
Patent Rights by any third-party.  If either party or any of either
party’s Affiliates shall engage in such conduct, the other party shall have the
right to deem such conduct a material breach of this Agreement, which breach
shall be a basis of termination of this Agreement.

     

    

    ARTICLE IX -
MARKINGS

    

    9.01     LICENSEE
agrees to, and to cause Affiliates of LICENSEE to, mark in a conspicuous
location all Licensed Products and/or the containers or packaging for any
Licensed Product sold by LICENSEE or any Affiliate of LICENSEE with the word
"Patent" or "Patents" and the number or numbers of the Licensed Patent Rights
applicable thereto and with such additional legends, markings and notices as may
be required by any law or regulation of any jurisdiction in the
Territory.  LICENSEE and any Affiliate of LICENSEE shall mark any
Licensed Products (and/or the containers or packaging therefor) using a process
covered by any patent included in the Licensed Patent Rights with the number of
each such patent and, with respect to Licensed Patent Rights, to respond to any
request for disclosure under 35 U.S.C. § 287(b)(4)(B) by only notifying LICENSOR
of the request for disclosure and the identity of the person or entity making
such request for disclosure.  In lieu of marking with a specific
patent number, at its option LICENSEE may comply with its obligations under this
Section 9.01 by using the legend “Sold Under License from Global Trek
Xploration, Inc.”

    

    

    
      
        
           

        

        
          9

          
            

          

        

        
           

        

      

    

    

    

     

    ARTICLE X - INTEGRATION;
AMENDMENT

    

    10.01   This
Agreement represents the entire understanding between the parties, and
supersedes all prior or contemporaneous discussions, proposals, negotiations,
understandings and other agreements, express or implied, between LICENSOR and
LICENSEE with respect to the subject matter of this Agreement, and there are no
representations, promises, conditions, provisions or terms, whether written or
oral, with respect thereto, other than those specifically set forth in this
Agreement.

    

    10.02  No
provision in this Agreement may be amended, altered, modified, discharged or
terminated, except by a writing signed by a duly authorized representative of
LICENSOR and LICENSEE.

    

    ARTICLE XI -
INDEMNIFICATION

    

    11.01  LICENSEE
and Affiliates of LICENSEE shall jointly and severally defend, indemnify and
hold harmless LICENSOR and the Affiliates of LICENSOR, and the officers, agents
and employees of LICENSOR and its Affiliates, (collectively the "Indemnified
Parties") from and against any and all liabilities, damages, losses, claims,
suits, proceedings, demands, recovery, costs and expenses (including, without
limitation, the fees and expenses of counsel, litigation expenses, and court
costs) which arise out of or relate to, any breach by LICENSEE or any Affiliate
of LICENSEE of any representation, warranty or covenant set forth in this
Agreement.

    

    11.02  LICENSOR
and Affiliates of LICENSOR shall jointly and severally defend, indemnify and
hold harmless LICENSEE and the Affiliates of LICENSEE, and the officers, agents
and employees of LICENSEE and its Affiliates, (collectively the "Indemnified
Parties") from and against any and all liabilities, damages, losses, claims,
suits, proceedings, demands, recovery, costs and expenses (including, without
limitation, the fees and expenses of counsel, litigation expenses, and court
costs) which arise out of or relate to, any breach by LICENSOR or any Affiliate
of LICENSOR of any representation, warranty or covenant set forth in this
Agreement.

    

    

    
      
        
           

        

        
          10

          
            

          

        

        
           

        

      

    

    

    

     

    11.03  The
indemnity and insurance obligations under this Agreement shall survive the
termination or expiration of this Agreement and of the licenses granted pursuant
to this Agreement in order to indemnify and hold harmless the Indemnified
Parties (as defined in Sections 11.01 and 11.02) with respect to any claims for
which the Indemnified Parties are entitled to indemnification, irrespective of
whether any such claim arose prior or subsequent to the effective date of
termination or expiration.

    

    ARTICLE XII - PRESS RELEASES
AND PUBLICITY

    

    12.01  The
financial terms of this Agreement are strictly confidential and neither LICENSOR
nor LICENSEE shall issue a press release or public announcement concerning, or
otherwise disclose, the financial terms of this Agreement without the prior
specific written consent of the other party and approval of the language of the
press release or public announcement.  Notwithstanding the foregoing,
LICENSOR and/or LICENSEE may disclose in a press release, to potential
licensees, or otherwise, the fact that this Agreement has been executed and
entered into on mutually agreeable terms without disclosing the amount of the
payments or any of the other specific financial terms of this
Agreement.

    

    12.02  Notwithstanding
Section 12.01, LICENSOR or LICENSEE may disclose the terms of this Agreement in
response to:  (a) an order from a court or governmental agency; (b) in
response to a request by a party in litigation, provided an appropriate
protective order has been entered; or (c) if such disclosure is necessary to
comply with any other laws or regulations applicable to LICENSOR or
LICENSEE.

    

    ARTICLE XIII -
NOTICES

    

    13.01   It
will be a sufficient giving of any notice, request, report, statement,
disclosure, or other communication hereunder, to LICENSOR or to LICENSEE, if the
party giving it deposits a copy thereof in a post office in a registered or
certified envelope, postage prepaid, or with overnight courier, prepaid, receipt
requested, addressed to the other party at its address set forth below or at any
other address the other party may hereafter designate in writing in accordance
with the provisions hereof.  Unless otherwise specified in this
Agreement or otherwise designated in writing, payments to be made pursuant to
any of the provisions of this Agreement will be transmitted to the address to
which notice is to be given hereunder, or wired to the bank account of LICENSOR
as requested by LICENSOR.  The respective addresses for the parties
are:

    

    

    
      
        
           

        

        
          11

          
            

          

        

        
           

        

      

    

    

    

     

    If to
LICENSEE:                                    My
Athlete LLC

    31 Flat Rock Drive

    Easton, CT 06612

    

    Attention:  John Brennan,
President

    

    If to
LICENSOR:                                   Global
Trek Xploration, Inc.

    117 West 9th Street, Suite Number
1214

     Los Angeles, CA
90015

    

    Attention:  President

    

    Notice to a party shall be deemed
notice to each Affiliate of that party for all purposes, and neither party shall
be required to give any separate notice to any Affiliate.

    

    ARTICLE XIV - APPLICABLE LAW
AND JURISDICTION

    

    14.01  All
matters affecting the interpretation validity and performance of this Agreement
shall be governed by the laws of the State of California without regard to its
conflict of law principles.

    

    14.02  The
United States District Court for the District of California, if a basis for
Federal court jurisdiction is present, and otherwise a state court of the State
of California, shall have exclusive jurisdiction and venue over any dispute
arising under or relating to this Agreement, and LICENSEE and the Affiliates of
LICENSEE consent to the jurisdiction and venue of such courts.  Each
of LICENSOR and LICENSEE and Affiliates of LICENSEE submits to personal
jurisdiction and venue in the State of California in any action or proceeding
arising under or relating to this Agreement and hereby agrees not to assert by
way of pleading, motion or otherwise in any such suit, action or proceeding,
that such party is not personally subject to the jurisdiction of any such court
and such action or proceeding is brought in an inconvenient forum, that the
venue of the suit, action or proceeding is improper or that this Agreement may
not be enforced in or by such court.  In furtherance of such
submission to jurisdiction, each of LICENSOR and LICENSEE and Affiliates of
LICENSEE hereby agrees that, without in any manner limiting or restricting other
methods of obtaining personal jurisdiction over such party, personal
jurisdiction over LICENSOR or LICENSEE in any action or proceeding arising out
of or relating to this Agreement may be obtained over such party within or
without the jurisdiction of any court located in the State of California
(including a United States Federal District Court in such state) and that any
process, notice of motion, or other application to any court in connection with
any such action or proceeding may be served upon such party by registered or
certified mail to, or by personal service upon such party at the last address of
such party as specified in, or in accordance with the provisions of, Article
XIII of this Agreement.

    

    

    
      
        
           

        

        
          12

          
            

          

        

        
           

        

      

    

    

    

     

    Each of the Affiliates of LICENSEE
shall be bound by the provisions of this Section 14.02.

    

    14.03  In
any action commenced to enforce this Agreement or as a result of a breach of
this Agreement, the prevailing party in such action shall be entitled to recover
the cost of such action, including attorneys' fees, incurred as a result of the
action to enforce and/or remedy the breach of this Agreement.

    

    ARTICLE XV -
MISCELLANEOUS

    

    15.01  (a)           If
any provision of this Agreement or the application of any provision of this
agreement to any person or under any circumstance shall be held to be invalid,
unenforceable or in conflict with the law of any jurisdiction, the validity and
enforceability of the remaining provisions and the application thereof to any
another person or under any other circumstance shall not be affected by such
holding.

     

    (b)           Any
provision of this Agreement which is held to be invalid or unenforceable by a
court of competent jurisdiction in any jurisdiction shall, as to such
jurisdiction, be ineffective only to the extent of such invalidity or
unenforceability.

    

    15.02  The
waiver by either party, whether express or implied, of any provision of this
Agreement, or of any breach or default by the other party, shall not be
construed to be a continuing waiver of such provision or of any succeeding
breach or default, or a waiver of any other provision of this
Agreement.

    

    

    
      
        
           

        

        
          13

          
            

          

        

        
           

        

      

    

    

    

     

    15.03   Nothing
contained in this Agreement shall be construed to constitute or imply a joint
venture, partnership, or principal-agent relationship between LICENSOR and
LICENSEE.  Neither party by virtue of this Agreement shall have any
right, power or authority to act or create any obligation, express or implied,
on behalf of the other party.  Neither LICENSEE, nor any Affiliate of
LICENSEE, nor any of the employees of LICENSEE or of any Affiliate of LICENSEE
shall in any manner be deemed an employee or an agent of LICENSOR for any
purpose whatsoever.

    

    15.04  The
provisions of this Agreement are solely for the benefit of LICENSOR and
LICENSEE, their authorized Affiliates, and their permitted successors and
assigns (as defined herein), and no such provision shall be construed or applied
to confer any rights or benefits on any other person.

    

    15.05  This
Agreement may be simultaneously executed in several counterparts, each of which
shall be an original and all of which shall constitute but one and the same
instrument.  Both parties hereto may sign the same counterpart or each
party hereto may sign a separate counterpart of this Agreement.

    

    15.06  Article,
section and paragraph headings in this Agreement are for reference purposes only
and shall not in any way affect the construction or interpretation of any
provision of this Agreement.

    

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

    

    

    [Signature Page
Follows]

    

    

    

    

    

    

    
      
        
           

        

        
          14

          
            

          

        

        
           

        

      

    

    

    

     

    

    
      	
              LICENSOR

            	
              LICENSEE

            
	
              GLOBAL
      TREK XPLORATION, INC.

            	
              MY
      ATHLETE LLC

            
	 
      	 
      
	 
      	 
      
	 
      	 
      
	
              By
      ___________________________________

            	
              By
      ___________________________________

            
	
              Title
      __________________________________

            	
              Title
      __________________________________  

            
	 
      	 
      
	
              Dated
      _________________________________

            	
              Dated
      _________________________________

            
	 
      	 
      
	
              Witness
      _______________________________

            	
              Witness
      _______________________________

            
	 
      	 
      

    

     

     

     

     

     

     

     

     

     

    
 

    

    
      
        
           

        

        
          15

          
            

          

        

        
           

        

      

    

    

    

     

    

    

    SCHEDULE 2.02 - ISSUED
PATENTS AND PATENT APPLICATIONS

    

    

    ISSUED
U.S. PATENTS

    

    .           U.S.
Patent No. 6,788,200 entitled “Footwear with GPS”

    

    

    

    U.S.
PATENT APPLICATIONS

    

    

    U.S. Patent Application No.
10/274,730

    U.S. Patent Application No. 11/494,751

    U.S. Patent Application No.
11/506,175

    U.S. Patent Application No. 11/516,805

    U.S. Patent Application No. 11/517,603

    U.S. Patent Application No. 11/348,292

    

    FOREIGN
PATENT APPLICATIONS

    

    [NONE AT THIS TIME]

    

    

    

    
      
        
           

        

        
          16

          
            

          

        

        
           

        

      

    

    

    SCHEDULE 2.08 – COPY OF
LETTER OF INTENT

    

    

    

    

    

     

     

     

     

    

    
      
        
           

        

        
          17

          
            

          

        

        
           

        

      

    

    

    

    

    SCHEDULE 4.01 –
CONSIDERATION AND ECONOMIC TERMS

    

    

    1.           Sections
8(a) and 8(c) of the Letter of Intent are hereby incorporated into and made a
part of this License Agreement.  Any sections of the Letter of Intent
not specifically referenced in the foregoing sentence of this Schedule 4.01 are
hereby superseded by the terms of this License Agreement and of no force and
effect.

    

    2.           On
or before October 1, 2007, LICENSEE shall exercise its warrants to purchase Two
Hundred Fifty Thousand (250,000) shares of LICENSOR’s common stock at Thirty Six
Cents ($0.36) per share and pay the full purchase price agreed upon for such
warrants which is the total amount of Ninety Thousand Dollars
($90,000.00).  On or before November 15, 2007, LICENSEE shall exercise
its warrants to purchase an additional Two Hundred Fifty Thousand (250,000)
shares of LICENSOR’s common stock at Thirty Six Cents ($0.36) per share and pay
the full purchase price agreed upon for such warrants which is the total amount
of Ninety Thousand Dollars ($90,000.00).

    

    3.           During
the Term of this License Agreement, LICENSEE agrees to purchase devices
incorporating the Licensed Patent Rights from LICENSOR only; provided LICENSOR
is capable of meeting LICENSEE’s demand for said devices.  In the
event LICENSOR is for any reason incapable of meeting LICENSEE’s demand for said
devices, or the devices are defective, LICENSEE shall have the right to source
devices from an alternative supplier and LICENSOR shall provide reasonable
cooperation to LICENSEE in obtaining an alternative source of
supply.  The number of devices to be purchased by LICENSEE are as
follows:

    

    Year
1:                      Five
Thousand (5,000) Devices

    Year
2:                      Seven
Thousand Five Hundred (7,500) Devices

    Year
3:                      Eight
Thousand Two Hundred Fifty (8,250) Devices

    Year
4:                      Nine
Thousand Seventy Five (9,075) Devices

    Year
5:                      Nine
Thousand Nine Hundred Eighty Two (9,982) Devices

    

    4.           LICENSOR
shall supply the devices incorporating the Licensed Patent Rights to LICENSEE at
LICENSOR’s cost, excluding general administrative and overhead,
plus  Ten percent (10%).  LICENSOR shall adjust its price to
LICENSEE to reflect the most favorable terms given to any other licensee of the
Licensed Patent Rights in any other Channel of Trade.

    

    5.           During
the Term of this License Agreement, LICENSOR shall pay LICENSEE the following percentages of the
gross fees collected from customers of LICENSEE as follows.

    

    
      
        
           

        

        
          18

          
            

          

        

        
           

        

      

    

    

    

     

    

    LICENSOR
will collect all of the following fees in subparagraphs (a) through (c) below
charged to customers of LICENSEE.  However, from said collection, the
following formulas shall apply:

    

    (a)           LICENSOR’s
Basic Cellular Connection Charge:  LICENSEE shall receive ten
percent (10%) of the gross fees collected from LICENSEE’s customers in connection to
LICENSOR’s “Basic” cellular connection charges.

    

    (b)           LICENSOR’s
Advanced Cellular Connection Charge: LICENSEE shall receive fifteen
percent (15%) of the gross fees collected from LICENSEE’s customers in connection to
LICENSOR’s “Advanced” cellular connection charges.

    

    (c)           Premium
Cellular Connection Charge: LICENSEE shall receive ninety five percent (95%) of
the gross fees above either the Basic or Advanced Cellular Connection Charge
collected from LICENSEE’s customers in connection to “Premium” cellular
connection charges in consideration for features originated by LICENSEE and
agreed to by LICENSOR in the Premium Connection plan.

    

    (d)           The
foregoing fees will be collected by LICENSOR and paid to LICENSEE within (thirty) 30 days of
collection by LICENSOR or at the time of collection once an automated system is
in place.  LICENSOR shall provide reports of all such fees collected
in accordance with Section 4.03 of this License Agreement.

    

    6.          During
the Term of this License Agreement, within thirty (30) days of payment to
LICENSEE by credit card companies, LICENSEE shall pay to LICENSOR ten percent
(10%) of the gross fees collected by LICENSEE for rental of Licensed Products
provided by LICENSEE.

    

    

     

     

     

     

    19

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