Document:

EXHIBIT 4.11

EXHIBIT 4.11

ITEC ENVIRONMENTAL GROUP, INC.

October 11, 2004

PERSONAL AND CONFIDENTIAL

Mr. George Kanakis

693 Hi Tec Parkway, Suite 3

Oakdale, California 95361

RE:

DIRECTOR COMPENSATION AGREEMENT

Dear George:

We are very pleased that you have agreed to continue as a member of the Board of Directors of Itec Environmental Group, Inc. ("Itec"), and are writing to set forth the general terms of your compensation as a director. The terms of your compensation are, of course, subject to future modification by the Board.

Your term as a director will run through the next annual meeting of shareholders of Itec.  As compensation for your services, you will receive a one-time issuance of 7,500,000 shares of common stock, which stock shall be registered on Form S-8.

If the proposed terms are acceptable to you, please sign below and return the signed copy of this Agreement to me.

Very truly yours,

ITEC ENVIRONMENTAL GROUP, INC.

By: /s/ Gary De Laurentiis

    

------------------------------------

Name: Gary De Laurentiis

Its: President and CEO

Agreed and accepted:

/s/ George Kanakis

George Kanakis

44EXHIBIT 4.12

EXHIBIT 4.12

ITEC ENVIRONMENTAL GROUP, INC.

October 11, 2004

PERSONAL AND CONFIDENTIAL

Mr. Andrea Videtta

693 Hi Tec Parkway, Suite 3

Oakdale, California 95361

RE:

DIRECTOR COMPENSATION AGREEMENT

Dear Andrea:

We are very pleased that you have agreed to continue as a member of the Board of Directors of Itec Environmental Group, Inc. ("Itec"), and are writing to set forth the general terms of your compensation as a director. The terms of your compensation are, of course, subject to future modification by the Board.

Your term as a director will run through the next annual meeting of shareholders of Itec.  As compensation for your services, you will receive a one-time issuance of seven million five hundred thousand (7,500,000) shares of common stock, which stock shall be registered on Form S-8.

If the proposed terms are acceptable to you, please sign below and return the signed copy of this Agreement to me.

Very truly yours,

ITEC ENVIRONMENTAL GROUP, INC.

By: /s/ Gary De Laurentiis

    

------------------------------------

Name: Gary De Laurentiis

Its: CEO

Agreed and accepted:

/s/ Andrea Videtta

Andrea Videtta

45EXHIBIT 4.13

EXHIBIT 4.13

ITEC ENVIRONMENTAL GROUP, INC.

October 11, 2004

PERSONAL AND CONFIDENTIAL

Mr. Gary De Laurentiis

693 Hi Tec Parkway, Suite 3

Oakdale, California 95361

RE:

DIRECTOR COMPENSATION AGREEMENT

Dear Gary:

We are very pleased that you have agreed to continue as a member of the Board of Directors of Itec Environmental Group, Inc. ("Itec"), and are writing to set forth the general terms of your compensation as a director. The terms of your compensation are, of course, subject to future modification by the Board.

Your term as a director will run through the next annual meeting of shareholders of Itec.  As compensation for your services, you will receive a one-time issuance of 7,500,000 shares of common stock, which stock shall be registered on Form S-8.

If the proposed terms are acceptable to you, please sign below and return the signed copy of this Agreement to me.

Very truly yours,

ITEC ENVIRONMENTAL GROUP, INC.

By: /s/ Jeff Chartier

    

------------------------------------

Name: Jeff Chartier

Its: Director

Agreed and accepted:

/s/ Gary De Laurentiis

Gary De Laurentiis

46Form of Non-Qualified Stock Option Agreement

Exhibit 10.1

NON-QUALIFIED STOCK OPTION

 ENERGIZER HOLDINGS, INC. (the "Company"), effective October 19, 2004, grants this Non-Qualified Stock Option to _______________ ("Optionee") to purchase a total of _______ shares of Common Stock of the Company ("Common Stock") at a price of $46.13 per share pursuant to its Energizer Holdings, Inc. 2000 Incentive Stock Plan (the "Plan"). Subject to the provisions of the Plan and the following terms, Optionee may exercise this Option from time to time by tendering to the Company written notice of exercise together with the purchase price in cash, or in shares of Common Stock at their Fair Market Value as determined by the Nominating and Executive Compensation Committee (the “Committee”), provided that such shares have been held for at least six months.

	1.	Normal Exercise. This Option becomes exercisable at the rate of 25% of the total shares on October 19 in each of the years 2005, 2006, 2007 and 2008. This Option remains exercisable through October 18, 2014 unless Optionee is no longer employed by the Company, in which case the Option is exercisable only in accordance with the provisions of paragraph 3 below.

	2.	Acceleration. Notwithstanding the above, any shares not previously forfeited under this Option will become fully exercisable before the normal exercise dates set forth in paragraph 1 hereof upon the occurrence of any of the following events while Optionee is employed by the Company:

		a.    death of Optionee;

	 	b.	declaration, by the Committee, of Optionee's total and permanent disability;

 

		c.	the voluntary termination of employment of Optionee at or after age 55; 

		d.	a Change of Control; or

		e.	the involuntary termination of employment of Optionee, other than a Termination for Cause. For purposes of this Option, involuntary termination shall include (i) Optionee’s involuntary termination of employment with the Company or an Affiliate which employs Optionee; or (ii) the sale or other disposition of a majority of the stock or assets of an Affiliate which employs Optionee. In no event shall transfers of employment between the Company and any of its Affiliates, or the creation of a class of stock of the Company which tracks the performance of an Affiliate, be deemed to constitute an involuntary termination of employment.

	3.	Exercise After Certain Events. Upon the occurrence of any of the events described below, any shares that are exercisable at that time shall remain exercisable during the period stated below, but, in any event, not later than October 18, 2014:

		a.	If Optionee's employment is terminated due to declaration of total and permanent disability, death, or voluntary or involuntary termination of employment (other than a Termination for Cause), such shares that are exercisable (including any shares that are accelerated because of such events) shall remain exercisable for five years thereafter; or

		b.	If Optionee’s employment is Terminated for Cause, or if the Committee determines that this Option is forfeit pursuant to Section IV of the Plan because Optionee engages in competition with the Company or an Affiliate, or Optionee engages in any activity or conduct contrary to the best interests of the Company or any Affiliate, such shares that are then exercisable shall remain exercisable for seven days after such Termination or determination.

	4.	Forfeiture. This Option is subject to forfeiture for the reasons set forth in Section IV.A.1, 3 or 4 of the Plan. If there is a declaration of forfeiture, those shares that are exercisable at the time of the declaration may be exercised as set forth in paragraph 3 above; all other shares are forfeited.

	5.	Definitions. Unless otherwise defined in this Non-Qualified Stock Option, defined terms used herein shall have the same meaning as set forth in the Plan.

“Change of Control” shall occur when (i) a person, as defined under securities laws of the United States, acquires beneficial ownership of more than 50% of the outstanding voting securities of the Company; or (ii) the directors of the Company immediately before a business combination between the Company and another entity, or a proxy contest for the election of directors, shall, as a result thereof, cease to constitute a majority of the Board of Directors of the Company of any successor to the Company.

	6.	Severability. The invalidity or unenforceability of any provision hereof in any jurisdiction shall not affect the validity or enforceability of the remainder hereof in that jurisdiction, or the validity or enforceability of this Non-Qualified Stock Option, including that provision, in any other jurisdiction. To the extent permitted by applicable law, the Company and Optionee each waive any provision of law that renders any provision hereof invalid, prohibited or unenforceable in any respect. If any provision of this Option is held to be unenforceable for any reason, it shall be adjusted rather than voided, if possible, in order to achieve the intent of the parties to the extent possible.

	
ACKNOWLEDGED AND ACCEPTED:
	
ENERGIZER HOLDINGS, INC.

	 	 
	
________________________________
	
_________________________________

	
Optionee
	
J. Patrick Mulcahy

	 	
Chief Executive Officer

	
____________________________
	 
	
Date
	 

	 
	 	 	 
	

	 

Recipients:

Mr. Joe McClanathan

Mr. Dan Sescleifer

Mr. Peter Conrad

Ms. Gayle Stratmann

Mr. David HatfieldForm of Restricted Stock Equivalent Award Agreement

Exhibit 10.2

RESTRICTED STOCK EQUIVALENT AWARD AGREEMENT

 Energizer Holdings, Inc. (“Company”), pursuant to its 2000 Incentive Stock Plan (the “Plan”), grants to __________ (“Recipient”) a Restricted Stock Equivalent Award of _____ restricted common stock equivalents (“Equivalents”). This Award Agreement is subject to the provisions of the Plan and to the following terms and conditions: 

1.    Vesting; Payment

One-fourth of the Equivalents granted to Recipient will vest on October 19, 2005, one-fourth will vest on October 19, 2006, one-fourth will vest October 19, 2007, and one-fourth will vest on October 19, 2008. At such times, each vested Equivalent will convert, at that time, or otherwise as provided herein, into one share of the Company’s $.01 par value Common Stock (“Common Stock”), which will be issued to the Recipient. If Recipient, no later than thirty (30) days from the effective date of this Award Agreement, elects in writing to defer the conversion of Equivalents into shares of Common Stock, the Equivalents will not convert into Common Stock, and shares of Common Stock will not be issued to the Recipient, until the Recipient’s retirement or other termination of employment with the Company. Notwithstanding the above, if, at the time of vesting, the payment to the Recipient would not be deductible compensation for the Company because of the Recipient’s status as one of the five (5) most highly compensated officers of the Company, the Equivalents will not be converted into shares of Common Stock, and payment will not be made to the Recipient, until such time as the payment would be deductible compensation. 

2.    Additional Cash Payment

At the time of payment of shares of Common Stock to Recipient, as described in paragraph 1 above, Recipient will also receive an additional cash payment equal to the amount of dividends, if any, which would have been paid on the shares of Common Stock issued to him or her if the Recipient had actually acquired those shares on the date or dates of crediting of his or her Equivalents. No interest shall be included in the calculation of such additional cash payment.

3.    Acceleration

Notwithstanding the provisions of paragraph 1 above, all Equivalents credited to the Recipient will immediately vest, convert into shares of Common Stock and be paid to the Recipient, his or her designated beneficiary, or his or her legal representative, in accordance with the terms of the Plan, in the event of:

(a)   the Recipient’s death;

	 	(b)	a declaration of Recipient’s total and permanent disability; 

(c)   Recipient’s involuntary termination of employment, other than for cause; or

	 	(d)	a Change of Control of the Company, which for purposes of this Award Agreement shall be deemed to occur when (i) a person, as defined under the U.S. securities laws, acquires beneficial ownership of more than fifty percent (50%) of the outstanding voting securities of the Company; or (ii) the directors of the Company immediately before a business combination between the Company and another entity, or a proxy contest for the election of directors, shall, as a result thereof, cease to constitute a majority of the Board of Directors of the Company (or a successor corporation of the Company). Notwithstanding the above, however, a Change of Control which is approved in advance by a majority of the Board of Directors of the Company shall not trigger acceleration as described in this paragraph 3.

4.    Forfeiture

 

All rights in and to any and all Equivalents granted pursuant to this Award Agreement, and to any shares of Common Stock into which they would convert, which have not vested as described in paragraph 1 of this Award Agreement shall be forfeited upon (i) the Recipient’s involuntary termination for cause; (ii) the Recipient’s voluntary termination of employment; (iii) a determination by the Committee that the recipient engaged in competition with the Company; or (iv) a determination by the Committee that the recipient engaged in activity or conduct contrary to the best interests of the Company, as described in the Plan.

 

5.    Shareholder Rights; Adjustment of Equivalents

Recipient shall not be entitled, prior to the conversion of Equivalents into shares of Common Stock, to any rights as a shareholder with respect to such shares of Common Stock, including the right to vote, sell, pledge, transfer or otherwise dispose of the shares. Recipient shall, however, have the right to designate a beneficiary to receive such shares of Common Stock under this Award Agreement, subject to the provisions of Section V of the Plan. The number of Equivalents credited to Recipient may be adjusted, in the sole discretion of the Nominating and Executive Compensation Committee of the Company’s Board of Directors, in accordance with the provisions of Section VI(F) of the Plan.

6.    Other

The Company reserves the right, as determined by the Committee, to convert this Award Agreement to a substantially equivalent award and to make any other modification it may consider necessary or advisable to comply with any applicable law or governmental regulation, or to preserve the tax deductibility of any payments hereunder.

7.    Effective Date

This Award Agreement shall be deemed to be effective as of the 19th day of October, 2004.

 

	 
	 	 	 
	

	 

Recipients:

Mr. Joe McClanathan

Mr. Dan Sescleifer

Mr. Peter Conrad

Ms. Gayle Stratmann

Mr. David Hatfield

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