Document:

Filed by Automated Filing Services Inc. (604) 609-0244 - NovaGold Resources Inc. - Exhibit 4.1

NOVAGOLD RESOURCES INC.

2004 STOCK OPTION PLAN

 

APPROVED MAY 11, 2004, AS
AMENDED APRIL 26, 2005

(WITH EFFECTIVE DATE OF AMENDMENT OF
MARCH 10, 2006)

NOVAGOLD RESOURCES INC.

2004 STOCK OPTION PLAN

PART 1

INTERPRETATION

1.01                                           
 Definitions In this Plan the following words and phrases shall have
the following meanings, namely:

	 	(a) 	
      "Board" means the board of directors of the
      Company and includes any committee of directors appointed by the directors
      as contemplated by Section 3.01 hereof;

	 	 	 
	 	(b) 	
      "Change of Control" means the acquisition by any
      person or by any person and a Joint Actor, whether directly or indirectly,
      of voting securities as defined in the Securities Act) of the Company,
      which, when added to all other voting securities of the Company at the
      time held by such person or by such person and a Joint Actor, totals for
      the first time not less than fifty percent (50%) of the outstanding voting
      securities of the Company or the votes attached to those securities are
      sufficient, if exercised, to elect a majority of the Board of Directors of
      the Company.

	 	 	 
	 	(c) 	
      "Code" means the U.S. Internal Revenue Code of
      1986, as amended;

	 	 	 
	 	(d) 	
      "Company" means NovaGold Resources Inc.;

	 	 	 
	 	(e) 	
      "Director" means any director of the Company or of
      any of its subsidiaries;

	 	 	 
	 	(f) 	
      "Employee" means any individual in the employment
      of the Company or any of its subsidiaries or of a company providing
      management or administrative services to the Company;

	 	 	 
	 	(g) 	
      "Exchange" means The Toronto Stock Exchange and
      any other stock exchange on which the Shares are listed for
  trading;

	 	 	 
	 	(h) 	
      "Exchange Policy" means the policies, bylaws,
      rules and regulations of the Exchange governing the granting of options by
      the Company, as amended from time to time;

	 	 	 
	 	(i) 	
      "Expiry Date" means not later than ten years from
      the date of grant of the Option or, if Exchange Policy does not permit a
      term of 10 years for Options granted by the Company not later than five
      years from the date the Option is granted;

	 	 	 
	 	(j) 	
      "Fair Market Value" means, with respect to any
      property (including, without limitation, any Shares), the fair market
      value of such property determined by such methods or procedures as are
      established from time to time by the Board. Unless otherwise determined by
      the Board, the fair market value of a Share as of a given date will be (a)
      the price at which the last recorded sale of a board lot of Shares took
      place on the Exchange during the trading day immediately preceding the
      date in question or (b) if there was no such sale, the weighted average
      trading price on the Exchange for the Shares for the five trading days
      immediately preceding the date in question;

	 	 	 
	 	(k) 	
      "Incentive Stock Option" means an Option granted
      to a U.S. Participant that is intended to qualify as an "incentive stock
      option" within the meaning of section 422 of the Code.

	 	 	 
	 	(l) 	
      "Insider" has the meaning ascribed thereto in the
      Securities Act;

	 	 	 
	 	(m) 	
      "Joint Actor" means a person acting "jointly or in
      concert with" another person as that phrase is interpreted in section 96
      of the Securities Act;

	 	 	 
	 	(n) 	
      "Nonqualified Stock Option" means an Option
      granted to a U.S. Participant that is not an Incentive Stock
  Option;

- 2 -

	 	(o) 	 "Option" means an option to acquire Shares granted
        under this Plan;

	 	 	 
	 	(p) 	 "Option Agreement" means the written agreement
        between the Company and an optionee relating to the granting of an Option,
        in the form or substantially in the form of Exhibit A or Exhibit
        B attached to this Plan, and containing such terms and conditions
        as are required by Exchange Policy and Securities Laws;

	 	 	 
	 	(q) 	 "Option Price" means the price at which Options
        may be granted in accordance with Exchange Policy and Securities Laws
        and means the price at which the last recorded sale of a board lot of
        Shares took place on the Exchange during the trading day immediately preceding
        the date of granting the Option or, if there was no such sale, the weighted
        average trading price on the Exchange for the Shares for the five trading
        days immediately preceding the date of granting the Option;

	 	 	 
	 	(r) 	 "Officer" means any senior officer of the Company
        or of any of its subsidiaries as defined in the Securities Act;

	 	 	 
	 	(s) 	 "Outstanding Issue" is determined by Exchange
        Policy and by Securities Laws, and is based on the number of Shares that
        are outstanding immediately prior to the Share issuance in question, excluding
        Shares issued over the preceding one year period pursuant to stock options,
        stock option plans, employee stock purchase plans or any other compensation
        or incentive mechanism involving the issuance or potential issuance of
        Shares including a share purchase from treasury which is financial assisted
        by the Company by way of loan, guarantee or otherwise;

	 	 	 
	 	(t) 	 "Parent" means a "parent corporation" as defined
        in section 424(e) of the Code;

	 	 	 
	 	(u) 	 "Plan" means this stock option plan as from time
        to time amended;

	 	 	 
	 	(v) 	 "Securities Act" means the Securities Act,
        as amended, from time to time;

	 	 	 
	 	(w) 	 "Securities Laws" means the act, policies, bylaws,
        rules and regulations of the securities commissions governing the granting
        of options by the Company, as amended from time to time;

	 	 	 
	 	(x) 	 "Service Provider" means an Employee or insider
        of the Company or any of its subsidiaries and includes any other person
        who is engaged to provide either directly or through a corporation, ongoing
        management or consulting services to the Company or its affiliates;

	 	 	 
	 	(y) 	 "Shares" means common shares of the Company;

	 	 	 
	 	(z) 	 "Subsidiary" means a "subsidiary corporation"
        as defined in section 424(f) of the Code;

	 	 	 
	 	(aa) 	 "U.S. Participant" means a Service Provider,
        Officer or Director who is a U.S. citizen or a U.S. resident, in each
        case as defined in the Code;

	 	 	 
	 	(bb) 	 "Vested" means that an Option has become exercisable
        in accordance with the terms of this Plan and any applicable Option Agreement;

	 	 	 
	 	(cc) 	 "10% Shareholder" means a person who owns (taking
        into account the constructive ownership rules under section 424(d) of
        the Code) more than 10% of the total combined voting power of all classes
        of stock of the Company (or of any Parent or Subsidiary of the Company).

1.02                                            
Gender Throughout this Plan, words importing the masculine gender shall
be interpreted as including the female gender.

- 3 -

PART 2

PURPOSE OF PLAN

2.01                                             Purpose
The purpose of this Plan is to attract and retain Service Providers, Officers or
Directors to the Company and to motivate them to advance the interests of the
Company by affording them with the opportunity to acquire an equity interest in
the Company through Options.

PART 3

GRANTING OF OPTIONS

3.01                                            
Administration This Plan shall be administered by the Board or, if the
Board so elects, by a committee (which may consist of only one person) appointed
by the Board from its members.

3.02                                            
Committee's Recommendations The Board may accept all or any part of
recommendations of the committee or may refer all or any part thereof back to
the committee for further consideration and recommendation.

3.03                                            
Grant by Resolution The Board, on its own initiative or, a committee of
the Board duly appointed for the purpose of administering this Plan, may, by
resolution, designate all eligible persons who are Service Providers, Officers
or Directors, or corporations employing or wholly owned by such Service
Provider, Officer or Director, to whom Options should be granted and specify the
terms of such Options which shall be in accordance with Exchange Policy and
Securities Laws.

3.04                                             Terms
of Option The resolution of the Board shall specify the number of Shares
that should be placed under Option to each such Service Provider, Officer or
Director, the exercise price to be paid for such Shares upon the exercise of
each such Option, and the period during which such Option may be exercised.

3.05                                            
Option Agreement Every Option granted under this Plan shall be evidenced
by an Option Agreement and, where not expressly set out in the Option Agreement,
the provisions of such Option Agreement shall conform to and be governed by this
Plan. In the event of any inconsistency between the terms of any Option
Agreement and this Plan, the terms of this Plan shall govern.

PART 4

CONDITIONS GOVERNING THE GRANTING AND EXERCISING OF
OPTIONS

4.01                                            
Exercise Price The exercise price of an Option granted under this Plan
shall not be less than the Option Price at the time of granting the Options.

4.02                                            
Expiry Date Each Option shall, unless sooner terminated, expire on a date
to be determined by the Board which will not be later than the Expiry Date.

4.03                                            
Different Exercise Periods, Prices and Number The Board may, in its
absolute discretion, upon granting an Option under this Plan, and subject to the
provisions of Section 7.03 hereof, specify a particular time period or periods
following the date of granting the Option during which the optionee may exercise
his Option to purchase Shares, may designate the exercise price and the number
of Shares in respect of which such optionee may exercise his Option during each
such time period and may determine and impose terms upon which each Option shall
become Vested.

4.04                                            
Number of Shares To one Person The number of Shares reserved for issuance
to any one person pursuant to Options granted under this Plan shall not exceed
5% of the outstanding Shares at the time of granting of the Options.

- 4 -

4.05                                            
Termination of Employment If a Director, Officer or Service Provider
ceases to be so engaged by the Company for any reason other than death, such
Director, Officer or Service Provider shall have such rights to exercise any
Option not exercised prior to such termination within the lesser of six months
from the date of the termination or the Expiry Date of the Option provided that
if the termination is for just cause the right to exercise the Option shall
terminate on the date of termination unless otherwise determined by the
Directors.

4.06                                            
Death of Optionee If a Director, Officer or Service Provider dies prior
to the expiry of his Option, his legal representatives may, within the lesser of
one year from the date of the optionee's death or the Expiry Date of the Option,
exercise that portion of an Option granted to the Director, Officer or Service
Provider under this Plan which remains outstanding.

4.07                                            
Assignment No Option granted under this Plan or any right thereunder or
in respect thereof shall be transferable or assignable otherwise than by will or
pursuant to the laws of succession except that, if permitted by all applicable
Securities Laws and the rules and policies of the Exchange, an optionee shall
have the right to assign any Option granted to him hereunder to a trust or
similar legal entity established by such optionee.

4.08                                            
Notice Options shall be exercised only by written notice to the Company
in accordance with the terms and conditions of this Plan and the applicable
Option Agreement.

4.09                                            
Payment Options may be exercised in whole or in part at any time prior to
their lapse or termination. Shares purchased by an optionee on exercise of an
Option shall be paid for in full at the time of their purchase.

4.10                                           
Securities Laws Notwithstanding any other provision contained in this
Plan, no holder may exercise any Option granted under this Plan and no Shares
may be issued upon exercise of an Option unless such exercise and issuance are
in compliance with all applicable Securities Laws.

PART 5

RESERVE OF SHARES FOR OPTIONS

5.01                                            
Sufficient Authorized Shares to be Reserved Whenever the Memorandum or
Articles of the Company limit the number of authorized Shares, a sufficient
number of Shares shall be reserved by the Board to satisfy the exercise of
Options granted under this Plan. Shares that were the subject of Options that
have lapsed or terminated shall thereupon no longer be in reserve and may once
again be subject to an Option granted under this Plan.

5.02                                            
Shares Subject to the Plan Subject to adjustment as provided in Part 7,
the shares to be offered under the Plan shall consist of shares of the
Corporation's authorized but unissued common shares. The aggregate number of
Shares to be delivered upon the exercise of all Options granted under the Plan
shall not exceed 10% of the issued and outstanding Shares of the Corporation at
the time of granting of options (on a non-diluted basis).

5.03                                            
Maximum Number of Shares Reserved Under no circumstances shall this Plan,
together with all of the Company's other previously established or proposed
stock options, stock option plans, employee stock purchase plans or any other
compensation or incentive mechanisms involving the issuance or potential
issuance of Shares, result, at any time, in:

	 	(a) 	
      the number of Shares reserved for issuance pursuant to
      stock options granted to Insiders exceeding 10% of the Outstanding Issue,
      subject to increase upon shareholder and Exchange approval;

	 	 	 
	 	(b) 	
      the issuance to Insiders, within a one year period, of a
      number of Shares exceeding 10% of the Outstanding Issue; or

	 	 	 
	 	(c) 	
      the issuance to any one Insider and such Insider's
      associates, within a one year period, of a number of Shares exceeding 5%
      of the Outstanding Issue.

- 5 -

PART 6

OPTIONS GRANTED TO U.S. PARTICIPANTS

6.01                                            
Maximum Number of Shares for Incentive Stock Options Notwithstanding any
other provision of this Plan to the contrary, the number of Shares available for
granting Incentive Stock Options under the Plan may not exceed 10% of the issued
and outstanding Shares of the Corporation at the time of granting of options (on
a non-diluted basis), subject to adjustment as provided in this Plan and subject
to the provisions of section 422 and 424 of the Code.

6.02                                            
Designation of Options The Option Agreement relating to any Option
granted to a U.S. Participant shall specify whether such Option is an Incentive
Stock Option or a Nonqualified Stock Option. If no such specification is made,
the Option will be (a) an Incentive Stock Option if all of the requirements
under the Code are satisfied or (b) in all other cases, a Nonqualified Stock
Option.

6.03                                            
Special Requirements for Incentive Stock Options In addition to the other
provisions of this Plan (and notwithstanding any other provision of this Plan to
the contrary), the following limitations and requirements will apply to an
Incentive Stock Option:

	 	(a) 	 An Incentive Stock Option may be granted only to employees
        (including a Director or Officer who is also an employee) of the Company
        (or of any Parent or Subsidiary of the Company). For purposes of this
        Part 6, the term "employee" shall mean a person who is an employee for
        purposes of the Code.

	 	 	 
	 	(b) 	 The Board will not grant Incentive Stock Options in
        which the aggregate Fair Market Value (determined as of the date of grant)
        of the Shares with respect to which Incentive Stock Options are exercisable
        for the first time by any U.S. Participant during any calendar year (under
        this Plan and all other plans of the Company and of any Parent or Subsidiary
        of the Company) exceeds US$100,000 or any limitation subsequently set
        forth in section 422(d) of the Code.

	 	 	 
	 	(c) 	 The exercise price payable per Share upon exercise of
        an Incentive Stock Option will not be less than 100% of the Fair Market
        Value of a Share on the date of grant of such Incentive Stock Option;
        provided, however, that, in the case of the grant of an Incentive Stock
        Option to a U.S. Participant who, at the time such Incentive Stock Option
        is granted, is a 10% Shareholder, the exercise price payable per Share
        upon exercise of such Incentive Stock Option will be not less than 110%
        of the Fair Market Value of a Share on the date of grant of such Incentive
        Stock Option.

	 	 	 
	 	(d) 	 An Incentive Stock Option will terminate and no longer
        be exercisable no later than 10 years after the date of grant of such
        Incentive Stock Option; provided, however, that in the case of a grant
        of an Incentive Stock Option to a U.S. Participant who, at the time such
        Incentive Stock Option is granted, is a 10% Shareholder, such Incentive
        Stock Option will terminate and no longer be exercisable no later than
        5 years after the date of grant of such Incentive Stock Option.

	 	 	 
	 	(e) 	 If a U.S. Participant who has been granted Incentive
        Stock Options ceases to be employed by the Company (or by any Parent or
        Subsidiary of the Company) for any reason, whether voluntary or involuntary,
        other than death, permanent disability or just cause, such Incentive Stock
        Option shall be exercisable by the U.S. Participant (to the extent such
        Incentive Stock Option was Vested on the date of cessation of employment)
        at any time prior to the earlier of (i) the date that is three months
        after the date of cessation of employment or (ii) the expiration of the
        term of such Incentive Stock Option. In this paragraph, "permanent disability"
        is as defined in section 22(e)(3) of the Code. If a U.S. Participant who
        has been granted Incentive Stock Options ceases to be employed by the
        Company (or by any Parent or Subsidiary of the Company) because of the
        death or permanent disability of such U.S. Participant, such U.S. Participant,
        such U.S. Participant's personal

- 6 -

	 		
      representatives or administrators, or any person or
      persons to whom such Incentive Stock Option is transferred by will or the
      applicable laws of descent and distribution, may exercise such Incentive
      Stock Option (to the extent such Incentive Stock Option was exercisable on
      the date of death or permanent disability, as the case may be) at any time
      prior to the earlier of (i) the date that is six (6) months after the date
      of death or permanent disability, as the case may be, or (ii) the
      expiration of the term of such Incentive Stock Option. If a U.S.
      Participant who has been granted Incentive Stock Options ceases to be
      employed by the Company (or by any Parent or Subsidiary of the Company)
      for cause, the right to exercise such Incentive Stock Option will
      terminate on the date of cessation of employment, unless otherwise
      determined by the Board. In this paragraph, "permanent disability" has the
      meaning assigned to that term in section 22(e)(3) of the Code.

	 	 	 
	 	(f) 	
      An Incentive Stock Option granted to a U.S. Participant
      may be exercised during such U.S. Participant's lifetime only by such U.S.
      Participant.

	 	 	 
	 	(g) 	
      An Incentive Stock Option granted to a U.S. Participant
      may not be transferred, assigned or pledged by such U.S. Participant,
      except by will or by the laws of descent and
  distribution.

PART 7

CHANGES IN OPTIONS

7.01                                            
Share Consolidation or Subdivision In the event that the Shares are at
any time subdivided or consolidated, the number of Shares reserved for granting
of Options and the price payable for any Shares that are then subject to Options
shall be adjusted accordingly.

7.02                                            
Stock Dividend In the event that the Shares are at any time changed as a
result of the declaration of a stock dividend thereon, the number of Shares
reserved for granting of Options and the price payable for any Shares that are
then subject to Options may be adjusted by the Board to such extent as they deem
proper in their absolute discretion.

7.03                                             Effect
of a Take-Over Bid If a bona fide offer (an "Offer") for Shares is
made to the optionee or to shareholders of the Company generally or to a class
of shareholders which includes the optionee, which Offer, if accepted in whole
or in part, would result in the offeror becoming a control person of the
Company, within the meaning of subsection 1(1) of the Securities Act, the
Company shall, immediately upon receipt of notice of the Offer, notify each
optionee of full particulars of the Offer, whereupon all Shares subject to such
Option will become Vested and the Option may be exercised in whole or in part by
the optionee so as to permit the optionee to tender the Shares received upon
such exercise, pursuant to the Offer. However, if:

	 	(a) 	
      the Offer is not completed within the time specified
      therein; or

	 	 	 
	 	(b) 	
      all of the Shares tendered by the optionee pursuant to
      the Offer are not taken up or paid for by the offeror in respect
      thereof,

then the Shares received upon such exercise, or in the case of
clause (b) above, the Shares that are not taken up and paid for, may be returned
by the optionee to the Company and reinstated as authorized but unissued Shares
and with respect to such returned Shares, the Option shall be reinstated as if
it had not been exercised and the terms upon which such Shares were to become
Vested pursuant to this section shall be reinstated. If any Shares are returned
to the Company under this section 7.03, the Company shall immediately refund the
exercise price to the optionee for such Shares.

7.04                                            
Acceleration of Expiry Date If an Offer is made by an offeror at any time
when an Option granted under the Plan remains unexercised, in whole or in part
the Directors may, upon notifying each optionee of full particulars of the
Offer, declare all Shares issuable upon the exercise of Options granted under
the Plan, Vested, and declare that the Expiry Date for the exercise of all
unexercised Options granted under the Plan is accelerated so that all Options
will either be exercised or will expire prior to the date upon which Shares must
be tendered pursuant to the Offer.

- 7 -

7.05                                            
Effect of a Change of Control If a Change of Control occurs, all Shares
subject to each outstanding Option will become Vested, whereupon such Option may
be exercised in whole or in part by the optionee.

PART 8

EXCHANGE'S RULES AND POLICIES APPLY

8.01                                            
Exchange's Rules and Policies Apply This Plan and the granting and
exercise of any Options hereunder are also subject to such other terms and
conditions as are set out from time to time in the rules and policies on stock
options of the Exchange and any securities commission having authority and such
rules and policies shall be deemed to be incorporated into and become a part of
this Plan. In the event of an inconsistency between the provisions of such rules
and policies and of this Plan, the provisions of such rules and policies shall
govern. 

PART 9

AMENDMENT OF PLAN

9.01                                            
Board May Amend The Board may, by resolution, amend or terminate this
Plan, but no such amendment or termination shall, except with the written
consent of the optionees concerned, affect the terms and conditions of Options
previously granted under this Plan which have not then been exercised or
terminated.

9.02                                            
Exchange Approval Any amendment to this Plan or Options granted pursuant
to this Plan shall not become effective until such Exchange and shareholder
approval as is required by Exchange Policy and Securities Laws has been
received.

PART 10

MISCELLANEOUS

10.01                                            
Other Plans Not Affected This Plan is in addition to any other existing
plans and shall not in any way affect the policies or decisions of the Board in
relation to the remuneration of Directors, Officers and Service Providers.

10.02                                            
No Rights Until Option Exercised An optionee shall be entitled to the
rights pertaining to share ownership, such as to dividends, only with respect to
Shares that have been fully paid for and issued to him upon exercise of an
Option.

10.03                                            
No Right to Employment This Plan will not confer upon any optionee any
right with respect to continuation of such optionee's employment, consulting or
other service relationship with the Company, and will not interfere in any way
with the Company's right to terminate such optionee's employment, consulting or
other service relationship at any time, with or without cause.

10.04                                            
U.S. Tax Withholding In order to comply with all applicable federal or
state income tax laws or regulations, the Company may take such action as it
deems appropriate to ensure that all applicable U.S. federal or state payroll,
withholding, income or other taxes that are the sole and absolute responsibility
of a U.S. Participant are withheld or collected from such U.S. Participant. For
the purposes of assisting a U.S. Participant in paying all or a portion of the
U.S. federal and state taxes to be withheld or collected upon exercise of an
Option, the Board, in its discretion and subject to such additional terms and
conditions as it may adopt, may permit a U.S. Participant, subject to applicable
laws, to satisfy such tax obligation by (a) electing to have the Company
withhold a portion of the Shares otherwise to be delivered upon exercise of such
Option having a Fair Market Value equal to the amount of such taxes or (b)
delivering to the Company Shares (other than Shares issuable upon exercise of
such 

- 8 -

Option) having a Fair Market Value equal to the amount of such
taxes. The election, if any, must be made on or before the date that the amount
of tax to be withheld is determined. 

10.05                                            
No Trust Fund Neither this Plan nor any Option will create or be
construed to create a trust or separate fund of any kind or a fiduciary
relationship between the Company and an optionee or any other person. To the
extent that any optionee acquires a right to receive payments from the Company
pursuant to an Option, such right will be no greater than the right of any
unsecured general creditor of the Company.

10.06                                             Governing
Law The validity, construction and effect of this Plan and any Option
Agreement will be determined in accordance with the internal laws, and not the
law of conflicts, of the Province of British Columbia and the laws of Canada
applicable therein.

10.07                                            
Effective Date This Plan shall become effective upon the later of the
date of acceptance for filing of this Plan by the Exchange and the approval of
this Plan by the shareholders of the Company; provided, however, that Options
may be granted under this Plan prior to the receipt of approval of the Exchange.
In the event that this Plan is not adopted by the shareholders of the Company
within 12 months after approval by the Board, this Plan will remain effective;
provided, however, that any Incentive Stock Options granted under the Plan shall
be deemed to be Nonqualified Stock Options.

10.08                                            
Term of Plan No Options shall be granted under the Plan after 10 years
from the earlier of the date of adoption of the Plan by the Board or the date of
shareholder approval of the Plan. However, unless otherwise expressly provided
in the Plan or in an applicable Option Agreement, any Option theretofore granted
may extend beyond the end of such 10-year period, and the authority of the Board
provided for hereunder with respect to the Plan and any Options, and the
authority of the Board to amend the Plan, shall extend beyond the end of such
10-year period.

EFFECTIVE DATE OF PLAN: May 11, 2004

EFFECTIVE DATE OF AMENDMENT: March 10, 2006

Exhibit A

NOVAGOLD RESOURCES INC. OPTION AGREEMENT

                                            This
Option Agreement is entered into between NovaGold Resources Inc. (the
"Company") and the Optionee named below pursuant to the 2004 Stock Option
Plan (the "Plan"), a copy of which is attached hereto, and confirms
that:

	1. 	
      on [insert grant date] (the "Grant
  Date");

	 	 
	2. 	
      [insert name] (the "Optionee");

	 	 
	3. 	
      was granted the option (the "Option") to purchase
      [insert # of shares] common shares (the "Option Shares") of the
      Company;

	 	 
	4. 	
      for the price (the "Option Price") of $• per
      Option Share;

	 	 
	5. 	
      which shall be exercisable ("Vested") on • ,
      200•;

	 	 
	6. 	
      terminating on the [insert date] (the "Expiry
      Date");

all on the terms and subject to the conditions set out in the
Plan. For greater certainty, once Option Shares have become Vested, they
continue to be exercisable until the termination or cancellation thereof as
provided in this Option Agreement and the Plan.

                                            This
Option shall be exercisable by delivery of an Exercise Notice in the form
attached as Appendix 1, duly completed and signed by the Optionee.

                                            By
signing this Option Agreement, the Optionee acknowledges that the Optionee has
read and understands the Plan and agrees to the terms and conditions of the Plan
and this Option Agreement.

                                            IN
WITNESS WHEREOF the parties hereto have executed this Option Agreement as of the
• day of •, 200•.

	  	 	NOVAGOLD RESOURCES INC. 
	  	 	 	  
	  	 	Per:	 
	OPTIONEE 	 	 	Authorized Signatory 

Exhibit B

NOVAGOLD RESOURCES INC. OPTION AGREEMENT FOR U.S.
PARTICIPANT

                                            This
Option Agreement is entered into between NovaGold Resources Inc. (the
"Company") and the Optionee named below pursuant to the 2004 Stock Option
Plan (the "Plan"), a copy of which is attached hereto, and confirms
that:

	1. 	on •, 200• (the "Grant Date"); 
	 	 
	2. 	• (the "Optionee"); 
	 	 
	3. 	was granted the option (the "Option") to purchase
      • common shares (the "Option Shares") of the Conpaby;
	  	
	4. 	for the price (the "Option Price") of $•
      per Option Share; 
	 	 
	5. 	which shall be exercisable ("Vested") as to
      • [if any vesting provisions apply]; 
	 	 
	6. 	terminating on the •, 200• (the "Expiry
      Date"); and 
	 	 
	7. 	the Option is intended to qualify for U.S. federal
      income tax purposes as 
	 	 
	  	__ 	an Incentive Stock Option 
	 	 	 
	  	__ 	a Nonqualified Stock Option

all on the terms and subject to the conditions set out in the
Plan. For greater certainty, once Option Shares have become Vested, they
continue to be exercisable until the termination or cancellation thereof as
provided in this Option Agreement and the Plan.

                                            This
Option shall be exercisable by delivery of an Exercise Notice in the form
attached as Appendix 1, duly completed and signed by the Optionee.

                                            By
signing this Option Agreement, the Optionee acknowledges that the Optionee has
read and understands the Plan and agrees to the terms and conditions of the Plan
and this Option Agreement.

                                            IN
WITNESS WHEREOF the parties hereto have executed this Option Agreement as of the
• day of •, 200•.

	  	 	NOVAGOLD RESOURCES INC. 
	  	 	 	  
	  	 	Per:	 
	OPTIONEE 	 	 	Authorized Signatory 

APPENDIX 1

EXERCISE NOTICE

NovaGold Resources Inc. 
Suite 2300 
200 Granville Street

PO Box 24 
Vancouver, British Columbia 
Canada V7C 1S4

Attention: Chief Financial Officer

                    Effective
as of today, ___________, 20__, the undersigned optionee hereby elects to
exercise optionee's option to purchase 
________common shares (the
"Shares") of NovaGold Resources Inc. (the "Company") at
$_______________per share under and pursuant to the 2004 Stock Option Plan (the
"Plan") and the Stock Option Agreement dated ________, _____(the
"Option Agreement"). I enclose herewith a certified cheque or bank draft
for $ . In connection with such exercise, the undersigned optionee represents,
warrants and covenants to the Company (and acknowledges that the Company is
relying thereon) that (check one):

	____ 	1. 	
      The undersigned is not a U.S. person (the definition of
      which includes, but is not limited to, a person resident in the United
      States, a partnership or corporation organized or incorporated under the
      laws of the United States, and a trust or estate of which any trustee,
      executor or administrator is a U.S. person), the undersigned was not
      offered the Shares in the United States and the options are not being
      exercised within the United States or for the account or benefit of a U.S.
      person. The terms "United States" and "U.S. person" are as defined by Rule
      902 of Regulation S under the United States Securities Act of 1933, as
      amended (the "1933 Act"); or 

	 	  	
       

	____	2. 	
      The undersigned represents, warrants and covenants to the
      Company that the undersigned: 

	 	(a) 	
      understands and agrees that the Shares have not been and
      will not be registered under the United States Securities Act of 1933, as
      amended (the "1933 Act"), and the Shares are being offered and sold
      by the Company in reliance upon an exemption from registration under the
      1933 Act;

	 	 	 	 	 
	 		(b) 	
      understands that if he, she or it decides to offer, sell
      or otherwise transfer any of the Shares, he, she or it may not offer, sell
      or otherwise transfer any of such securities directly or indirectly,
      unless:

	 	 	 	 	 
	 			(i) 	
      the sale is to the Company;

	 	 	 	 	 
	 			(ii) 	
      the sale is made outside the United States in a
      transaction meeting the requirements of Rule 904 of Regulation S under the
      1933 Act and in compliance with applicable local laws and
    regulations;

	 	 	 	 	 
	 			(iii) 	
      the sale is made in compliance with the exemption from
      the registration requirements under the 1933 Act provided by Rule 144
      thereunder, if available, and in accordance with applicable state
      securities laws; or

	 	 	 	 	 
	 			(iv) 	
      the securities are sold in a transaction that does not
      require registration under the 1933 Act or any applicable state laws and
      regulations governing the offer and sale of securities;
  and

- 4 -

	 		
      the undersigned has prior to such sale furnished to the
      Company an opinion of counsel or other evidence of exemption, in either
      case reasonably satisfactory to the Company; and

	 	 	 
	 	(c) 	
      understands that upon the issuance thereof, and until
      such time as the same is no longer required under the applicable
      requirements of the 1933 Act or applicable U.S. state laws and
      regulations, the certificates representing the Shares will bear a legend
      in substantially the following form:

"THE SECURITIES REPRESENTED HEREBY
HAVE NOT BEEN AND WILL NOT BE REGISTERED UNDER THE UNITED STATES SECURITIES ACT
OF 1933, AS AMENDED (THE "1933 ACT"). THESE SECURITIES MAY BE OFFERED, SOLD,
PLEDGED OR OTHERWISE TRANSFERRED ONLY (A) TO THE COMPANY, (B) OUTSIDE THE UNITED
STATES IN COMPLIANCE WITH RULE 904 OF REGULATION S UNDER THE 1933 ACT, (C) IN
COMPLIANCE WITH THE EXEMPTION FROM THE REGISTRATION REQUIREMENTS UNDER THE 1933
ACT PROVIDED BY RULE 144 THEREUNDER, IF AVAILABLE, AND IN ACCORDANCE WITH
APPLICABLE STATE SECURITIES LAWS, OR (D) IN A TRANSACTION THAT DOES NOT REQUIRE
REGISTRATION UNDER THE 1933 ACT OR ANY APPLICABLE STATE LAWS AND REGULATIONS
GOVERNING THE OFFER AND SALE OF SECURITIES, AND THE HOLDER HAS, PRIOR TO SUCH
SALE, FURNISHED TO THE COMPANY AN OPINION OF COUNSEL OR OTHER EVIDENCE OF
EXEMPTION, IN EITHER CASE REASONABLY SATISFACTORY TO THE COMPANY. DELIVERY OF
THIS CERTIFICATE MAY NOT CONSTITUTE "GOOD DELIVERY" IN SETTLEMENT OF
TRANSACTIONS ON STOCK EXCHANGES IN CANADA. AT ANY TIME THE COMPANY IS A "FOREIGN
ISSUER" AS DEFINED IN RULE 902 UNDER THE 1933 ACT, A NEW CERTIFICATE, BEARING NO
LEGEND, THE DELIVERY OF WHICH WILL CONSTITUTE "GOOD DELIVERY" MAY BE OBTAINED
FROM THE COMPANY'S TRANSFER AGENT UPON DELIVERY OF THIS CERTIFICATE AND A DULY
EXECUTED DECLARATION, IN FORM SATISFACTORY TO THE COMPANY AND ITS TRANSFER AGENT
TO THE EFFECT THAT THE SALE OF THE SECURITIES IS BEING MADE IN COMPLIANCE WITH
RULE 904 OF REGULATION S UNDER THE 1933 ACT."

provided, that if Shares of the
Company are being sold under clause (B) above, at a time when the Company is a
"foreign issuer" as defined in Rule 902 under the 1933 Act, the legend may be
removed by providing a declaration to the Company's transfer agent in such form
as the Company may from time to time prescribe, to the effect that the sale of
the securities is being made in compliance with Rule 904 of Regulation S under
the 1933 Act.

The foregoing representations, warranties and covenants are
made by the undersigned with the intent that they be relied upon in determining
whether the Shares may be issued under applicable securities laws. The
undersigned undertakes to notify the Company immediately of any change in any
representation, warranty or other information relating to the undersigned set
forth herein which takes place prior to the date of issuance of the Shares.

Registration of the stock certificate to the following name
and address:

	Name:      
      __________________________________________________
	 
	Address: 
      __________________________________________________
	 
	                  __________________________________________________
	 
	                  __________________________________________________ 
	 

	 	  Delivery of the stock certificate to the following
      address: 
	 	                 
      Same as above or: 
	 	  
	Delivery	 ___________________________________________________

- 5 -

	Address: 		 
	 	 	 
	 	  	 
	 	 	 
	 	 	 
	 	  	 
	Attention: 		 
	 	 	 
	 		(Signature of Optionee) 
	 	 	
	 		(Name of Optionee - please print)Converted by EDGARwiz

Exhibit 10.1

AGREEMENT TO PURCHASE STOCK

THIS PURCHASE AGREEMENT is dated as of April 4, 2006, between
POP N GO, INC., a Delaware corporation (the “Purchaser”), and MICROWAVE ROASTERS, INC., an Alabama Corporation (the “Company”). 

WITNESSETH:

WHEREAS, the Company wishes to sell Fifty One Percent (51%) of the common stock of the Company. 

WHEREAS, Purchaser wishes to purchase (51%) of the common stock from the Company in exchange for FIVE HUNDRED EIGHTY THOUSAND AND 00/100 ($580,000.00) DOLLARS and 2 million shares of Purchaser’s common stock, subject to the terms and conditions contained in this Agreement. 

NOW THEREFORE:

In consideration of the mutual covenants contained herein, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, it is mutually agreed and covenanted by the Purchaser, for itself as an entity, its successors and assigns, and by the Company, for itself as an entity, its successors and assigns, that the foregoing recitals are true and correct and further agree as follows:

1. 

Purchase and Sale. 

On the Closing (as provided in Section 2 herein), Company shall sell, assign, transfer, convey and deliver the stock to Purchaser, free and clear of any and all liens, claims and encumbrances, and Company shall evidence such transaction by delivering to Purchaser stock certificates with all applicable transfer taxes paid by Company.  In consideration of the conveyance of the stock to Purchaser, at the Closing Purchaser shall pay to Seller, the aggregate sum of FIVE HUNDRED EIGHTY THOUSAND AND 00/100 ($580,000.00) DOLLARS, pursuant to the terms provided in Section 2, herein (the “Purchase Price), and shall deliver stock certificates for 2 million shares of Purchaser’s common stock to the stockholders of the Company in the same proportions as  the  current stockholder ownership percentages of the Company which said information shall be provided to Purchaser by the Company.   

2. 

Closing and Closing Agreements. 

2.1

The Closing (the “Closing”) of the purchase and sale shall be held on or before April 4, 2006, (the “Closing Date”), at a specific date, place and time mutually agreed to by the parties, unless the parties mutually agree in writing to extend the date of Closing.

1

. 

2.2

At the Closing, the Company shall deliver to Purchaser the stock certificate or certificates representing 51% of the outstanding shares of the Company and such other duly executed instruments or documents as may be reasonably requested by Purchaser in order to consummate the transactions contemplated by this Agreement. 

2.3

At the Closing, the Purchaser shall deliver to the Company:

(i)

the sum of $20,000.00, by U. S. Bank check or Wire Transfer, and forgiveness of a debt of $50,000.00 from the Company to Purchaser.  

(ii)

a written agreement to pay the sum of FIVE HUNDRED TEN THOUSAND AND 00/100 ($510,000.00) DOLLARS, representing the remaining amount due of the Purchase Price due at Closing in accordance with Section I, above, to be paid in 9 quarterly payments of $35,000, with interest on said sum to be paid annually at the rate of 5% per annum; and the remaining principal and interest to be paid within thirty (30) days of the final quarterly payment. 

(iii)

such other duly executed instruments or documents as may be reasonably requested by Company in order to consummate the transaction contemplated by this Agreement. 

2.4

At or subsequent to the Closing, the parties shall execute and deliver any other instruments and take any actions, which may be reasonably required for the implementation of this Agreement and the transactions contemplated hereby. 

3.

Company’s Representations and Warranties. 

In order to induce Purchaser to enter into this Agreement and purchase the stock from the Company, the Company makes the following representations and warranties to Purchaser, which representations and warranties shall be true and correct as of the Closing Date as well as on the date hereof:

3.1

The Company is a corporation duly organized, validly existing and in good standing under the laws of the State of Alabama and has all requisite power and authority to carry on its business as now conducted. 

3.2

All action on the part of the Company necessary for the authorization, execution, and delivery of this Agreement, the performance of all obligations of the Company hereunder, and the authorization, issuance, sale, and delivery of the Company’s stock has been taken or will be taken prior to the Closing, and this Agreement constitutes the legal, valid and binding obligation of the Company, enforceable in accordance with its terms.  Neither the Company’s execution and delivery of this Agreement nor its consummation for the transactions contemplated hereby requires the approval or consent of any third party, whether governmental or otherwise. 

2

3.3.

The Company’s stock certificates are duly and validly issued and authority, fully paid and non-assessable.  Upon the conveyance of these stock certificates, the Purchaser will be vested with legal and valid title to the stock, free and clear of all liens, pledges, security interests, irrevocable proxies, encumbrances or restrictions of any kind (except as provided herein). 

3.4

The execution, delivery and performance of this Agreement and the transactions contemplated by this Agreement will not conflict with, or constitute or result in a breach, default or violation of (i) the Articles of Organization, Regulations or Operating Agreement of the Company, (ii) any law, ordinance, regulation or rule applicable to the Company; (iii) any order, judgment, injunction or other decree by which the Company is bound; or (iv) any written or oral contract, agreement, or commitment to which the Company is a party; nor will such execution, delivery and performance result in the creation of any lien or encumbrance upon the Stock. 

3.5

The Company will prior to closing deliver to Purchaser (i) the unaudited balance sheet of the Company as of December 31, 2005, (ii) the unaudited operating statement of the Company for the fiscal year ended December 31,2008 (collectively, the “Company Financial Statements”).  The Company Financial Statements have been and will be prepared in accordance with generally accepted accounting principles (GAAP) applied on a consistent basis, and fairly reflect and will reflect in all material respects the financial condition of the Company as at the dates thereof and the results of the operations of the Company for the periods then ended.  The Company has no material debt, liability, or obligation of any kind, whether accrued, absolute, contingent, or otherwise, except: (i) those reflected on the Company Financial Statements, including the notes thereto, and (ii) liabilities incurred in the ordinary course of business since 

December 31, 2005, none of which are, individually or in the aggregate, material. 

3.6

The Company has duly filed all material Tax Returns (as defined below), and all returns and reports of all other governmental units having jurisdiction with respect to Taxes (as defined below) imposed on it or on its operations, all such Tax Returns were complete and accurate when filed, and all Taxes payable by the Company have been paid to the extent that such Taxes have become due (whether or not shown on any tax return).  All Taxes payable by the Company for all periods through December 31, 2005 have been accrued or paid in full.  As used herein (I) the term “Tax” shall include any tax or similar governmental charge, assessment, impost, or levy (including without limitation income taxes, franchise taxes, transfer taxes or fees, sales taxes, use taxes, gross receipt taxes, value added taxes, employment taxes, excise taxes, ad valorem taxes, property taxes, withholding taxes, payroll taxes, minimum taxes, or windfall profit taxes) together with any related penalties, fines, additions to tax, or interest imposed by the United States or any state, county, local or foreign government, or subdivision or agency of any government; and (ii) the term “Tax Return” shall mean any return (including any information return), report, statement, schedule, notice, form, estimate, or declaration of estimated tax to be filed with any governmental authority relating to any Tax. 

3.7

The Company represents and warrants that, except as otherwise provided under this Agreement, the resale, in full or part, of the shares purchased by the Purchase shall not be subject to any limitation; therefore, should any limitation whatsoever to the resale of the shares by the Purchaser apply, the Company shall assure the Purchaser that the proposed resale is authorized and permitted in compliance with all the relevant provisions of any applicable federal or state securities law. 

3.8.

No representation or warranty of the Company contained in this Agreement, and none of the statements or information concerning the Company contained in this Agreement, contains or will contain any untrue statement of a material fact nor will such representations, warranties, covenants, or statements taken as a whole omit a material fact required to be stated therein or necessary in order to make the statements therein, in light of the circumstances under which they were made, not misleading.

4.

Company Representations and Warranties.

In order to induce Purchaser to enter into this Agreement and purchase the Stock, the Company makes the following representations and warranties to Purchaser, which representations and warranties shall be true and correct as of the Closing Date, as well as on the date hereof:

4.1

The Company has full power and authority to enter into this Agreement and to carry out the transactions contemplated hereby. The execution, delivery and performance of this Agreement by the Company and the consummation of the transactions contemplated hereby have been duly and validly authorized, and this Agreement constitutes the legal, valid and binding obligation of the Company, enforceable in accordance with its terms. Neither the execution and delivery of this Agreement nor the consummation of the transactions contemplated hereby requires the approval or consent of any third party, whether governmental or otherwise.

4.2

The Company is the only legal, record and beneficial owner of the Stock. The Stock is free and clear of all liens, pledges, security interests, irrevocable proxies, encumbrances or restrictions of any kind. Upon the conveyance of the Stock, the Purchaser will be vested with legal and valid title, to the Stock, free and clear of all liens, pledges, security interests, irrevocable proxies, encumbrances or restrictions of any kind.

4.3

There is no outstanding right, agreement, power of attorney, commitment or understanding of any nature whatsoever, that (i) calls for the issuance, sale, pledge or other disposition of the Stock, (ii) obligates the Company to enter into any of the foregoing, or (iii) relates to the voting or control of such Stock.

4.4

The execution, delivery and performance of this Agreement and the
transactions contemplated by this Agreement will not conflict with, or constitute or result in a breach, default or violation of (i) the Articles of Organization, Regulations or Operating Agreement of the Company; (ii) any law, ordinance, regulation or rule applicable to the Company ; (iii) any order, judgment, injunction or other decree by which the Company is bound; or (iv) any written or oral contract, agreement, or commitment to which the Company is  a party; nor will such execution, delivery and performance result in the creation of any lien or encumbrance upon the Stock.

3

4.5

The representations and warranties contained in this Section do not contain any untrue statement of a material fact or omit to state a material fact required or necessary to be stated therein to make the statements made therein, in light of the circumstances in which they were made, not misleading.

5.

Purchaser’s Representations and Warranties.

In order to induce the Company to enter into this Agreement and sell the Stock, Purchaser makes the following representations and warranties to the Company and the Company, which representations and warranties shall be true and correct as of the Closing Date as well as the date hereof.

5.1

Purchaser has all requisite right, power and authority to enter into this Agreement and to consummate the transactions contemplated hereby including the full legal right and power and all authority and approval required (a) to execute and deliver, or authorize execution and delivery of this Agreement and all other instruments executed and delivered by or on behalf of the Purchaser in connection with the purchase of the Stock, (b) to delegate authority pursuant to a power of attorney and (c) to purchase and hold such Stock. Purchaser represents that the signature of the party signing this Agreement on behalf of the Purchaser is binding upon the Purchaser. Neither the Purchaser’s execution and delivery of this Agreement nor its consummation of the transactions contemplated hereby requires the approval or consent of any third party.

5.2

This Agreement constitutes the legal, valid and binding obligation of Purchaser enforceable in accordance with its terms.

5.3

The Purchaser has been furnished with and has carefully read this Agreement and is familiar with and understands the terms thereof.  In evaluating the suitability of an interest in the Company, the Purchaser has not relied upon any representations or other information (whether oral or written) from the Company (or any agent or representative of the Company), other than as set forth in this Agreement. With respect to individual tax and other economic considerations involved in this investment, the Purchaser is not relying on this Agreement or the Company (or any agent or representative of the Company). The Purchaser has carefully considered and has discussed with the Purchaser’s professional legal, tax, accounting and financial advisers the suitability of a purchase of the Stock for the Purchaser’s particular tax and financial situation and has determined that the Stock being purchased by the Purchaser is a suitable investment for the Purchaser.

4

5.4

The Purchaser acknowledges on its behalf that (i) it has had the right to request copies of any documents, records and books pertaining to this investment and (ii) such documents, records and books which it has requested have been made available to the Purchaser (or its agent or representative).

5.5

The Purchaser (or its agent or representative) has had a reasonable opportunity to ask questions of and receive answers from a person or persons acting on behalf of the Company concerning the subject matter of this Agreement and all such questions have been answered to the fill satisfaction of the Purchaser.

5.6

No representations of any kind have been made other than those set forth in this Agreement.

5.7

The Purchaser has such knowledge and experience in financial, tax and business matters so as to enable the Purchaser to utilize the information made available to the Purchaser in connection with the purchase of the Stock to evaluate the merits and risks of a purchase of the Stock and to make an informed investment decision with respect thereto.

5.8

Purchaser represents and warrants that the information set forth herein concerning the Purchaser is complete, true and correct.

6.

Conditions to Company’s Obligations.

The obligations of Company to consummate the transactions contemplated hereby shall be subject to the satisfaction on or prior to the Closing Date of all of the following conditions, except such conditions as the Company may waive:

6.1

Purchaser shall have complied in all material respects with all of its agreements contained herein required to be complied with at or prior to the Closing Date, and all of the representations and warranties of Purchaser contained herein shall be true in all material respects on and as of the Closing Date with the same effect as though made on and as of the Closing Date.

6.2

All action (including notifications and filings) that shall be required to be taken by Purchaser in order to consummate the transactions contemplated hereby shall been taken and all consents, approvals, authorizations and exemptions from third parties that shall be required in order to enable the Company to consummate the transactions contemplated hereby shall have been duly obtained.

5

6.3

No order of any court or governmental or regulatory authority or body which restrains or prohibits the transactions contemplated hereby shall be in effect on the Closing Date and no suit or investigation by any government agency to enjoin the transactions contemplated hereby or seek damages or other relief as a result thereof shall be pending or threatened in writing as of the Closing Date.

6.4

The Company shall have received from the Purchaser all of the documents and other items required to be delivered at Closing as provided in Section 2.3 herein.

7.

Conditions to Purchaser’s Obligations.

 The obligations of the Purchaser to consummate the transactions contemplated hereby shall be subject to the satisfaction on or prior to the Closing Date of all of the following conditions, except such conditions as the Purchaser may waive:

7.1

The Company shall have complied in all material respects with all of the agreements and covenants contained herein required to be complied with at or prior to the Closing Date, and all the representations and warranties of the Company contained herein shall be true on and as of the Closing Date with the same effect as though made on and as of the date.

7.2

All action (including notifications and filings) that shall be required to be taken by the Company in order to consummate the transactions contemplated hereby shall have been taken and all consents, approvals, authorizations and exemptions from third parties (if any) that shall be required in order to enable the Company to consummate the transactions contemplated hereby shall have been duly obtained.

7.3

No order of any court or governmental or regulatory authority or body which restrains or prohibits the transactions contemplated hereby shall be in effect on the Closing Date and no suit or investigation by any government agency to enjoin the transactions contemplated hereby or seek damages or other relief as a result thereof shall be pending or threatened as of the Closing Date.

7.4

Purchaser shall have received from the Company all of the documents and items required to be delivered at Closing as provided in Section 2.2 herein.

6

8.

Survival and Indemnification.

8.1

The representations, warranties, covenants and agreements contained herein to be performed or complied with after the Closing shall survive without limitation as to time, unless the covenant or agreement specifies a term, in which case such covenant or agreement shall survive until the expiration of such specified term.

8.2

From and after the Closing Date, the Company, and the Purchaser, as the case may be, shall indemnify and hold harmless the other (the party seeking indemnification being referred to as the “Indemnified Party”) from and against any and all claims, losses, liabilities and damages, including, without limitation, amounts paid in settlement, reasonable costs of investigation and reasonable fees and disbursements of counsel, arising out of or resulting from the inaccuracy of any representation or warranty, or the breach of any covenant or agreement, contained herein or in any instrument or certificate delivered pursuant hereto, or in the case of the Company, any claim arising from any action prior to the Closing Date, by the party against whom indemnification is sought (the “Indemnifying Party”).

8.3

The Indemnified Party shall promptly notify the Indemnifying Party in writing of any claim for indemnification, specifying in detail the basis of such claim, the facts pertaining thereto and, if known, the amount, or an estimate of the amount, of the liability arising therefrom. The Indemnified Party shall provide to the Indemnifying Party as promptly as practicable thereafter all information and documentation necessary to support and verify the claim asserted and the Indemnifying Party shall be given reasonable access to all books and records in the possession or control of the Indemnified Party or any of its affiliates which the Indemnifying Party reasonably determines to be related to such claim.

9.

Disclosure and Access to Information.

The Company, for so long as the Purchaser maintains ownership of any Stock, shall, at the Purchaser’s request, fully disclose, give full access to and make available to any inspection all records, shareholder lists and any other document or information related to the Company; the Purchaser shall have the right to make copies of the aforesaid documents and/or to ask for a copy thereof to be delivered to the address set forth in Section 10 below.

10.

Notices.

Any notice, request, instruction or other document required by the terms of this Agreement to be given to any Party hereto shall be in writing and shall be given either:

7

(a)

by a nationally recognized overnight courier service in which the date of delivery is recorded by the courier service, in which case notice shall be presumptively deemed to have been given at the time that records of the courier service indicate the writing was delivered to the receiving Party;

(b)

by prepaid telegram, in which case notice shall be presumptively deemed to have been given at the time that the records of the telegraphic agency indicate that the telegram was telephoned or delivered to the receiving Party, as the case may be; or

(c)

by the Express Mail service maintained by the United States Postal Service, sent by registered or certified mail, postage prepaid, with return receipt requested, in which case notice shall be presumptively deemed to have been given forty-eight (48) hours after the letter was deposited with the United States Postal Service.

Notice shall be sent,

(i)

If to the Purchaser, to:

Melvin Wyman

CEO

Pop N Go, Inc.

12429 East Putnam Street

Whittier, CA 90602

(ii)

If to the Company, to:

Microwave Roasters Inc.

Steven Grossman

116 Pioneer Lane

Selma, AL 36702

or to such other addresses or facsimile numbers as either party hereto may from time to time give notice of (complying as to delivery with the terms of this Section) to the other.

8

11.

Entire Agreement and Binding Effect.

This Agreement constitutes the entire agreement between the parties hereto and supersedes all prior agreements, understandings, negotiations and discussions, both written and oral, between the parties hereto with respect to the subject matter hereof and are not intended to confer upon any other person any rights or remedies hereunder except as expressly provided herein. The parties have not relied upon any promises, representations, warranties, agreements, covenants or undertakings, other than those set forth or referred to herein.

12.

Benefits; Binding Effect; Assignment.

This Agreement is for the benefit of and binding upon the parties hereto, their respective successors and, where applicable, assigns. Neither party may assign this Agreement or any of its rights, interests or obligations hereunder without the prior approval of the other party.

13.

Waiver.

No waiver of any of the provisions of this Agreement will be deemed to constitute or will constitute a waiver of any other provision hereof (whether or not similar), nor shall any such waiver constitute a continuing waiver unless otherwise expressly so provided.

14.

Amendment.

No amendment of any provision of this Agreement shall be valid unless the same shall be in writing and signed by all of the parties hereto.

15.

No Third Party Beneficiary.

Unless otherwise expressed in this Agreement, nothing expressed or implied in this Agreement is intended, or will be construed, to confer upon or give any person or entity other than the parties hereto and their respective successors and assigns any rights or remedies under or by reason of this Agreement.

16.

Section Headings.

9

The section and other headings contained in this Agreement are for reference purposes only and shall not affect the meaning or interpretation of any provisions of this Agreement.

17.

Counterparts.

This Agreement may be executed in any number of counterparts and by the parties hereto in separate counterparts, each of which will be deemed to be one and the same instrument.

18.

Resolution of Disputes; Arbitration.

All disputes concerning this Agreement or any claim or issue of any nature (whether brought by the Parties hereto or by any other person whatsoever) arising from or relating to this Agreement or to the corporate steps taken to enter into it (including, without limitation, claims for alleged fraud, breach of fiduciary duty, breach of contract, tort, etc.) which cannot be resolved within reasonable time through discussions between the opposing entities, shall be resolved solely and exclusively by means of arbitration to be conducted in the City of Whittier, California, which arbitration will proceed in accordance with the Commercial Arbitration Rules of the American Arbitration Association (or any successor organization thereto) then in force for resolution of commercial disputes unless the parties mutually agree in writing otherwise.

The Arbitrators themselves shall have the right to determine and to arbitrate the threshold issue of arbitrability itself.  The decision of the Arbitrators shall be final, conclusive, and binding upon the opposing entities, and a judgment upon the award may be obtained and entered in any federal or state court of competent jurisdiction.

Each entity or Party involved in litigation or arbitration shall be responsible for its own costs and expenses of any litigation or arbitration proceeding, including its own attorney’s fees (for any litigation, arbitration, and any appeals).

19.

Remedies Cumulative.

10

No remedy made available by any of the provisions of this Agreement is intended to be exclusive of any and is in addition to every other remedy given hereunder or now or hereafter existing at law or in equity.

20.

Equitable Remedies.

The Company acknowledges and agrees that the Purchaser will not have an adequate remedy at law in the event of any breach by the Company of this Agreement and that, therefore, the Purchaser shall be entitled, in addition to any other remedies which may be available to it, to injunctive and/or other equitable relief to prevent or remedy a breach, with the posting of any bond in connection therewith being hereby waived.

21.

Construction.

The parties have participated jointly in the negotiation and drafting of this Agreement.  In the event an ambiguity or question of intent or interpretation arises, this Agreement shall be construed as if drafted jointly by the parties and no presumption or burden of proof shall arise favoring or disflavoring any party by virtue of the authorship of any of the provisions of this Agreement. Any reference to any federal, state, local or foreign statute or law shall be deemed also to refer to all rules and regulations promulgated thereunder, unless the context requires otherwise. The specifications of any dollar amount in the representations and warranties or otherwise in this Agreement is not intended and shall not be deemed to be an admission or acknowledgment of the materiality of such amounts or items, nor shall the same be used in any dispute or controversy between the parties to determine whether any obligation, item or matter (whether or not described herein or included in any schedule) is or is not material for purposes of this Agreement.

22.

Further Documentation.

The parties shall execute and deliver any other instruments or documents and take any further actions after the execution of this Agreement, which may be reasonably required for the implementation of this Agreement and the transactions contemplated hereby.

11

23.

Governing Law.

This Agreement will be governed by and construed and enforced in accordance with the internal laws of the State of California.

IN WITNESS WHEREOF, the parties hereto have each executed and delivered this Agreement as of the day and year first above written.

“PURCHASER”

POP N GO, Inc.

By: Melvin Wyman

Melvin Wyman, CEO

“COMPANY”

MICROWAVE ROASTERS, INC. 

By: Steven Grossman, 04/04/2006 

Steven Grossman, President

12

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