Document:

Unassociated Document

    MARKETING
      CONSULTANCY AGREEMENT

    

    AGREEMENT

    

    AGREEMENT
      (this
“Agreement”),
      made
      as of this 16th day of November, 2006 by and between Bloodhound Search
      Technologies, Inc., a Nevada corporation with offices at 19901 Southwest
      Freeway, Suite 114, Sugarland, Texas 77479
      (the
“Company"),
      and
      Gaming Solutions International, LLC, a limited liability company with offices
      at
      2360 Bayou Boulevard, Pensacola, Florida 32503 (“GSI”).

    

    WHEREAS,
      the Company is currently marketing and distributing certain software, materials
      and services of a proprietary Internet search engine known as “Strategic
      Information Monitoring System” (“SIMS”);
      

    

    WHEREAS,
      subject to the terms and conditions set forth in this Agreement, the Company
      desires to engage GSI as a consultant for the purpose of providing certain
      sales, marketing and public relation services to the Company and the Consultant
      desires to accept such engagement on the terms and conditions contained herein.
      

    

    NOW,
      THEREFORE, in consideration of the mutual premises and covenants contained
      herein, and other good and valuable consideration, the receipt and sufficiency
      of which are hereby acknowledged, the parties agree as follows:

    

    ARTICLE
      I

    SERVICES

    

    Section
      1.1 Services.
      In
      consideration for the compensation provided herein, GSI shall diligently promote
      the Company and its products and services and the brand and goodwill of Company.
      GSI shall create, enlarge and exploit the marketplace through raising brand
      awareness, sales, fieldwork, meetings and other customary means of promotion.
      In
      furtherance of the foregoing, GSI shall provide the following services for
      and
      on behalf of the Company:

    

    1.                 
      The
      Company shall provide GSI information about the Company and its products which
      GSI will include on its Web site “LottoFactor.com”.

    2.                 
      GSI
      will
      add a SIMS module to its Web site “LottoFactor.com”. 

    3.                 
      GSI
      will
      arrange a “virtual” road show with its current content partners and with other
      third parties identified by GSI and the Company. 

    4.                 
      GSI
      will
      provide a detailed list of names of potential customers for the Company,
      including the names of contact persons at such third parties.

    5.                 
      GSI
      may
      be asked to attend meetings arranged by the Company. The Company will arrange
      and pay for travel expenses if this occurs.

    6.                 
      GSI
      shall
      issue press releases regarding the arrangement between the parties and the
      endorsement by GSI of the Company and its products. All such releases shall
      be
      approved by the Company prior to their dissemination thereof.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    Section
      1.2 Independent
      Parties.
      The
      relationship between the parties herein is that as of independent parties and
      not of partners, joint venture partners, employer and employee, principal and
      agent or any other relationship other than as expressly provided herein. Nothing
      herein shall be construed to provide the authority to one party to bind the
      other party. 

    

    ARTICLE
      II

    COMPENSATION

    

    Section
      2.1 Cash
      Compensation.
      Commencing
      on the first business day of December 2006 and continuing thereafter until
      the
      last business day in May 2007, GSI shall be entitled to $6,000 per month;
      commencing on the last business day in June 2007 and continuing thereafter
      until
      the last business day in November 2007, GSI shall be entitled to $8,000 per
      month. Provided that this Agreement has not been terminated in accordance with
      the terms hereof, the $84,000 due to GSI for its services shall be paid by
      the
      Company as follows: (i) $9,000 shall be due and payable on each of December
      1,
      2006 and March 1, 2007; (ii) $12,000 shall be due and payable on each of June
      1,
      2007 and September 1, 2007; and (iii) $42,000 shall be due and payable on
      November 30, 2007. 

    

    Section
      2.2 Options.
      In
      addition to the cash payments provided above, the Company hereby grants options
      to purchase (i) 100,000 shares of common stock of the Company, exercisable
      at
      $0.40 per share; said options shall vest and be exercisable immediately until
      November 30, 2008; and (ii) 500,000 shares of common stock of the Company,
      exercisable at $1.25 per share; said options to vest and be exercisable on
      November 28, 2007 if this Agreement has not been terminated by the Company
      for
      cause prior to such time. If the Company has not terminated this Agreement
      for
      cause prior to November 28, 2007, then said option shall be exercisable until
      November 28, 2009.  The
      foregoing options awarded to GSI shall be assignable to the shareholders of
      GSI.

    

    Section
      2.3 Pay
      Per Click Revenue.
      The Net
      Revenue (as defined below) generated from any Pay Per Click from LottoFactor.com
      or any other Web site directly owned by GSI shall be split 50/50 between GSI
      and
      the Company. Net Revenue shall be defined as revenues received after any
      3rd
      party
      fees and expenses. 50/50 shall be defined as the same amount that the Company
      receives as profit from such events. 

     

    Section
      2.4 No
      Additional Compensation.
      GSI
      agrees and acknowledges that it shall not be entitled to any further
      compensation from the Company regardless of any revenues generated directly
      or
      indirectly as a result of the efforts of GSI.

    

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

    ARTICLE
      III

    TERM

     

    Section
      3.1 Term.
      The
      term of this Agreement shall commence as of the date written above and unless
      terminated earlier by the Company shall continue until December 1, 2007.

    

    Notwithstanding
      anything contained herein to the contrary, the Company shall have the sole
      and
      exclusive right to terminate this Agreement for cause after June 1,
      2007  provided that  GSI has not added value to BLDH in the preceding
      12-months by performing the items outlined in section 1.1 of this agreement.
      Value is defined as GSI attempting to lead BH to contract arrangements that
      increase its distribution of its products, increasing brand awareness, strategic
      introductions to potential partners, and/or notable press releases during the
      12
      month period. GSI can not guarantee revenues for BLDH as BLDH has yet to prove
      their product will deliver substantial revenues on a going forward basis, but
      GSI agrees to make best efforts to assist BLDH in introducing their product
      to
      the marketplace per the items outlined in section 1.1 of this agreement.

    

    Section
      3.2 Compensation
      upon Termination. If
      the
      Company exercises its option to terminate the Agreement for cause, due to lack
      of performance by GSI as outlined in section 3.1 of this agreement, prior to
      December 1, 2007, the Company shall pay GSI any cash compensation then due
      and
      payable to GSI the accrued amount or the amount due hereunder. Said payment
      shall represent GSI’s sole and exclusive right to any damages as a result of
      such termination for cause by the Company so long as termination is justified
      due to lack of performance by GSI per section 3.1 of this agreement.

    

    ARTICLE
      IV

    CONFIDENTIALITY;
      NON-COMPETE

     

    Section
      4.1 Confidentiality.
      The
      parties agree during the course of GSI providing services to the Company, each
      party will disclose (the “Discloser”)
      non-public material information to the other (the “Recipient”).
      Such
      information, hereinafter referred to as “Proprietary
      Information”
may
      include but is not limited to, any information concerning the software, customer
      and contact lists, business strategies, business forecasts, sales, merchandising
      and marketing plans, methods, policies and information, special offers,
      personnel, information, way of doing business, research, experimental work,
      development, inventions, design details and specifications, engineering,
      financial information, and any other information provided by the Discloser
      which
      is marked as “Confidential”.

    

    At
      all
      times during the term of this Agreement and for three years therafter, the
      Recipient agrees to keep and hold all such Proprietary Information in strict
      confidence and trust, and not to use or disclose any of such Proprietary
      Information except as may be necessary to perform its duties pursuant to this
      Agreement and only for the benefit of the Discloser. Upon termination of this
      Agreement for any reason, the Recipient shall promptly deliver to the Discloser
      any and all Proprietary Information and any copies thereof. 

    

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

    Section
      4.2 Non-Solicitation.
      GSI
      covenants and agrees that, for the term of this Agreement and for a period
      of
      three years thereafter, GSI shall not, and will not assist, directly or
      indirectly, anyone to, (a) hire any employee, consultant or independent
      contractor of the Company; (b) seek to persuade any employee, consultant or
      independent contractor of the Company to discontinue employment or work on
      behalf of the Company; (c) become employed by any of the Company ’s employees,
      independent contractors, suppliers, customers or service providers; (d) seek
      to
      persuade any independent contractor, supplier, customer or service provider
      to
      discontinue his/her relationship with Company or refrain from entrusting
      additional business to, or doing additional business; (e) develop a business
      relationship with any of Company’s clients other than those introduced to the
      Company by GSI; or (f) affect to the detriment of the Company or any of its
      affiliates any relationship of Company, its affiliates or any of its officers,
      employees and agents with any client, employee or agent of Company or its
      affiliates. 

    

    Section
      4.3 Non-Compete.
      GSI
      agrees that, for the term of this Agreement and for a period of one year
      thereafter, that it will not serve as in a consultancy capacity for other search
      engine related companies.

    

     

    ARTICLE
      V

    GENERAL
      PROVISIONS

    

    Section
      5.1. Representations
      and Warranties.
      Each
      party hereby represents and warrants to the other that (i) it has the requisite
      corporate power and authority to enter into and perform its obligations under
      this Agreement; (b) the execution and delivery of this Agreement and the
      consummation by it of the transactions contemplated hereby have been duly
      authorized by all necessary corporate action and no further consent or
      authorization of the company or its board of directors or mangers, as the case
      may be, is required; and (c) this Agreement has been duly executed and delivered
      by the party and constitutes a valid and binding obligation of the party,
      enforceable against it in accordance with its terms.

      Section
      5.2  Indemnification.
      GSI
      shall defend, indemnify, and hold the Company and its officers, directors,
      employees, agents and their respective affiliates and successors and assigns
      (an
“Indemnified
      Party”)
      harmless from and against any suit, proceeding, assertion, damage, cost,
      liability or expense (including court costs and attorneys’ fees) incurred
      directly or indirectly by an Indemnified Party as a result of a breach of any
      representation, warranty or covenant made by GSI herein or any claim made by
      a
      third party against any Indemnified Party arising from or connected, directly
      or
      indirectly, to the actions or omissions of GSI.

    

    Section
      5.3 Notices.
      All
      notices and other communications provided to any party hereto under this
      Agreement or any instrument executed pursuant hereto shall be in writing and
      shall be deemed to have been duly given (a) three days after being sent by
      registered or certified mail (return receipt requested), (b) when delivered,
      if
      delivered personally, (c) upon the expiration of twenty four (24) hours after
      transmission, if sent by facsimile if a confirmation of transmission is produced
      by the sending machine (and a copy of each facsimile promptly shall be sent
      by
      ordinary mail), (d) upon the expiration of twenty four (24) hours after
      transmission, if sent by email if a confirmation of transmission is produced
      by
      the sending computer (and a copy of each email transmission promptly shall
      be
      sent by ordinary mail) or (e) on the third day after being sent by overnight
      mail or overnight courier, in each case to the parties at their respective
      addresses set forth above (or at such other address for a party as shall be
      specified by like notice; provided that the notices of a change of address
      shall
      be effective only upon receipt thereof). 

    

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

    Section
      5.4 Severability.
      In
      the
      event that any provision of this Agreement is determined by a non-appealable
      decision to be illegal, invalid or unenforceable, then such provision shall
      not
      be voided, but shall be enforced to the maximum extent permissible under
      applicable law, and the remainder of this Agreement shall remain in full force
      and effect. 

    

    Section
      5.5 Governing
      Law and Jurisdiction.
      This
      Agreement shall be governed by and be construed in accordance with the laws
      of
      the State of New York. Any dispute between or, legal action or proceeding
      against any of the parties hereto under, arising out of or in any manner
      relating to, this Agreement and the transactions contemplated herein shall
      be
      adjudicated by the a court of competent jurisdiction within the State of New
      York. Each of the parties herein: (1) consents and submits to the personal
      jurisdiction of any of such courts in any such action or proceeding; (2)
      consents to the service of any complaint, summons, notice or other process
      relating to any such action or proceeding by certified mail, return receipt
      requested, postage prepaid; (3) waives any claim or defense in any such action
      or proceeding based on any alleged lack of personal jurisdiction, improper
      venue
      or forum non convenience or any similar basis, to the extent permitted by law;
      and (4) waives trial by jury in any litigation in any court with respect to,
      in
      connection with, or arising out of, this Agreement, or the validity,
      interpretation, collection or enforcement thereof. 

    

    Section
      5.6 Entire
      Agreement.
      This
      Agreement contains the entire understanding of the parties herein with respect
      to its subject matter. There are no restrictions, agreements, promises,
      representations, warranties, covenants or undertakings other than those
      expressly set forth herein. This Agreement supersedes all prior agreements
      and
      understandings between the Company and GSI with respect to its subject matter.
      

    

    Section
      5.7 Change
      or modification.
      No
      waiver, change or modification of this Agreement or of any covenant, conditions
      or limitations herein contained shall be valid unless in writing and duly
      executed by both parties. 

    

    Section
      5.8 No
      Assignment.
      GSI
      shall not assign or transfer this Agreement or any rights or obligations
      hereunder to any third party without the prior written consent of the Company.
      Options awarded to GSI per this agreement are transferable to individual
      shareholders of GSI.

     

    Section
      5.9 Construction.
      The
      headings of this Agreement have been inserted for purposes of convenience only
      and are to be ignored in any construction of the provisions hereof.

    

    
      
         

      

      
        5

        
          

        

      

      
         

      

    

    Section
      5.10 Waiver.
      No
      waiver of any rights by any party hereto shall be construed as a waiver of
      the
      same or any other right at any prior or subsequent time. Further, no waiver
      or
      delay on the part of a party in exercising any power of right hereunder and
      no
      forbearance or indulgence of a party granted to the other party, shall in any
      way restrict or diminish the full rights and powers of the party under this
      Agreement, or operate as a waiver of any breach by a party of any of the terms
      and conditions of this Agreement. 

    

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

    

    

    

    

    BLOODHOUND
      SEARCH TECHNOLOGIES, INC

    

    By:
      /s/
      Brian Wade Bickford

    Name:
      Brian Wade Bickford

    Title:
      Chief Executive Officer

    

    Date:
      November 16, 2006

    

     

    GAMING
      SOLUTIONS INTERNATIONAL, LLC    

     

    By:
      /s/
      John Brier, Jr.    

    Name: John
      Brier, Jr.     

    Title:
      Managing Partner

    

    Date:
      November 16, 2006

    

    
      
         

      

        6FOSTER
      WHEELER LTD. OMNIBUS INCENTIVE PLAN

     

    Notice
      of Employee Nonqualified Stock Option Grant

     

    Employee:
      __________________________

     

    Pursuant
      to the attached Employee Nonqualified Stock Option Agreement, you have been
      granted a nonqualified stock option to purchase shares of common stock, $.01
      par
      value per share (a “Share”), of Foster Wheeler Ltd., a Bermuda company (the
“Company”) as follows:

     

    
      	
              Compensation
                Committee Approval Date: 

            	
              November
                15, 2006

            
	 	 
	
              Date
                of Grant:

            	
              November
                15, 2006

            
	 	 
	
              Exercise
                Price Per Share:

            	
              $________
                per Common Share

            
	 	 
	
              Total
                Number of Shares Subject to this Option:

            	
              ________________
                shares of common stock

            
	 	 
	
              Type
                of Option:

            	
              Nonqualified
                Stock Option

            
	 	 
	
              Expiration
                Date:

            	
              December
                31, 2011

            
	 	 
	
              Vesting/Exercise
                Schedule:

               

            	
              So
                long as you are continuously employed by the Company or any Affiliate,
                and
                except as otherwise set forth in Section 5 of the Option Agreement,
                the
                Shares underlying this Option shall vest and become exercisable in
                accordance with the following schedule:

               

              · One-third
                of the Shares subject to the Option shall vest and become exercisable
                on
                December 31, 2007; 

               

              · Another
                one-third of the Shares subject to the Option shall vest and become
                exercisable on December 31, 2008; and

               

              · The
                remaining one-third of the Shares subject to the Option shall vest
                and
                become exercisable on December 31,
                2009.

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	
              Termination
                Period:

               

            	
              Following
                your termination of employment with the Company and all its Affiliates,
                the Option may be exercised, but only as to Shares that were vested
                on the
                date of such termination, through the Expiration Date set forth above;
                provided, however, the Option may terminate as
                of an earlier date in
                connection with certain events as set forth in the Plan and in Section
                5
                of the Option Agreement.

               

              You
                are responsible for keeping track of the periods during which the
                Option
                may be exercised, including those periods that apply following your
                termination of employment with the Company and all its Affiliates
                for any
                reason. The Company will not provide further notice of such exercise
                periods.

            
	 	 
	
              Transferability:

            	
              Unless
                otherwise provided in the Option Agreement or the Plan, this Option
                may
                not be transferred.

            

    

    

    By
      your
      signature and the signature of the Company’s representative below, you and the
      Company agree that this Option is granted under and governed by the terms and
      conditions of the Foster Wheeler Ltd. Omnibus Incentive Plan and the Employee
      Nonqualified Stock Option Agreement, both of which are attached and made a
      part
      of this document.

    

    In
      addition, you agree and acknowledge that your rights to any Shares underlying
      the Option vest only as you provide services to the Company or its Affiliates
      over time, that the grant of the Option is not as consideration for services
      you
      rendered to the Company or its Affiliates prior to your Date of Grant, and
      that
      nothing in this Notice or the attached documents confers upon you any right
      to
      continue your employment relationship with the Company or its Affiliates for
      any
      period of time, nor does it interfere in any way with your right or the
      Company’s (or its Affiliates’) right to terminate that relationship at any time,
      for any reason, with or without cause.

     

    
      	
               

               

               

               

               

            	 	
               

              FOSTER
                WHEELER LTD.

               

               

               

            
	
              Participant

            	 	
              By:
                Raymond J. Milchovich

              Its:
                Chief Executive Officer

            

    

    

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

    FOSTER
      WHEELER LTD. OMNIBUS INCENTIVE PLAN

     

    Employee
      Nonqualified Stock Option Agreement

     

    1.     Grant
      of Option.
      Foster
      Wheeler Ltd., a Bermuda company (the “Company”),
      hereby grants to ___________________ (“Optionee”),
      an
      option (the “Option”)
      to
      purchase the total number of shares of common stock (the “Shares”)
      subject to the Option, set forth in the Notice of Employee Nonqualified Stock
      Option Grant (the “Notice”),
      at
      the exercise price per Share set forth in the Notice (the “Exercise
      Price”),
      subject to the terms, definitions and provisions of the Foster Wheeler Ltd.
      Omnibus Incentive Plan (the “Plan”)
      adopted by the Company, which is incorporated in this Employee Nonqualified
      Stock Option Agreement (the “Option
      Agreement”)
      by
      reference. Unless otherwise defined in this Option Agreement, the terms used
      in
      this Option Agreement shall have the meanings defined in the Plan; provided,
      however,
      that the
      term “Shares” as defined above shall be interpreted to refer to the specific
      number of shares set forth in the Notice but shall otherwise have the meaning
      set forth in Section 2(ww) of the Plan. This Option Agreement shall be deemed
      executed by the Company and Optionee upon execution by such parties of the
      Notice.

     

    2.     Designation
      of Option.
      This
      Option is intended to be a Nonqualified Stock Option (as defined in Section
      2(bb) of the Plan).

     

    3.     Exercise
      of Option.
      This
      Option shall be exercisable during its term in accordance with the
      Vesting/Exercise Schedule set out in the Notice and with the provisions of
      Section 5 of this Option Agreement as follows:

     

    (a) Right

      to Exercise.

     

    (i) This
      Option may not be exercised for a fraction of a share of common
      stock.

     

    (ii) In
      the
      event of Optionee’s death, Disability (as defined in Section 2(q) of the Plan),
      Retirement (which for purposes of this Option Agreement is as defined in Section
      2(vv) of the Plan), or other termination of employment, the exercisability
      of
      the Option is governed by Section 5 below, subject to the limitations contained
      in this Section 3.

     

    (iii) In
      no
      event may this Option be exercised after the Expiration Date of the Option
      as
      set forth in the Notice.

     

    (b) Method
      of Exercise.

     

    (i) This
      Option shall be exercisable by delivering to the Company a written Notice of
      Exercise (containing the information described in Exhibit
      A
      hereto,
      in the form attached as Exhibit
      A,
      or in
      any other form acceptable to the Committee) which shall state Optionee’s
      election to exercise the Option, the number of Shares in respect of which the
      Option is being exercised, and such other representations and agreements as
      to
      the holder’s investment intent with respect to such Shares as may be required by
      the Company pursuant to the provisions of the Plan. Such written notice shall
      be
      signed by Optionee and shall be delivered to the Company by such means as are
      determined by the Committee in its discretion to constitute adequate delivery.
      The written notice shall be accompanied by payment of the Exercise Price. This
      Option shall be deemed to be exercised upon receipt by the Company of such
      written notice accompanied by payment of the Exercise Price.

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

       

    

    (ii) As
      a
      condition to the exercise of this Option and as further set forth in Article
      20
      of the Plan, Optionee agrees to make adequate provision for federal, state
      or
      other tax withholding obligations, if any, which arise upon the vesting or
      exercise of the Option. Optionee may satisfy withholding tax obligations through
      either (a) giving instructions to a broker for the sale on the open market
      of a
      sufficient number of shares of common stock of the Company to pay the applicable
      withholding tax or (b) depositing with the Company an amount of funds equal
      to
      the estimated withholding tax liability. If Optionee fails to satisfy such
      obligations in this regard, the Company may require that the Shares otherwise
      scheduled to become vested on any given date be forfeited. 

     

    (iii) The
      Company is not obligated, and will have no liability for failure, to issue
      or
      deliver any Shares upon exercise of the Option unless such issuance or delivery
      would comply with the Applicable Laws (as defined in Section 2(c) of the Plan),
      with such compliance determined by the Company in consultation with its legal
      counsel. This Option may not be exercised if the issuance of such Shares upon
      such exercise or the method of payment of consideration for such shares would
      constitute a violation of any applicable federal or state securities or other
      law or regulation, including any rule under Part 221 of Title 12 of the Code
      of
      Federal Regulations as promulgated by the Federal Reserve Board, or other
      Applicable Laws. As a condition to the exercise of this Option, the Company
      may
      require Optionee to make any representation and warranty to the Company as
      may
      be required by the Applicable Laws. Assuming such compliance, for income tax
      purposes the Shares shall be considered transferred to Optionee on the date
      on
      which the Option is exercised with respect to such Shares. The Company may
      postpone issuing and delivering any Shares for so long as the Company reasonably
      determines to be necessary to satisfy the following: 

     

    (A) its
      completing or amending any securities registration or qualification of the
      Shares or its or the Optionee’s satisfying any exemption from registration under
      any federal or state law, rule, or regulation; 

     

    (B) its
      receiving proof it considers satisfactory that a person seeking to exercise
      the
      Option after the Optionee’s death is entitled to do so; 

     

    (C) the
      Optionee complying with any requests for representations under the Plan;

     

    (D) the
      Optionee complying with any federal, state, or local tax withholding
      obligations; and

     

    (E) its
      compliance with the restrictions of Code Section 409A to the extent applicable,
      including any final regulations issued pursuant thereto, including the
      Committee’s right to amend any provision of this Option Agreement, to the extent
      necessary to comply with Code Section 409A.

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

    

    4.     Method
      of Payment.
      Payment
      of the Exercise Price (in US dollars) shall be by any of the following, or
      a
      combination of the following, at the election of Optionee:

     

    (a) cash
      or
      cashier’s check; 

     

    (b) through
      a
      cashless (broker-assisted) exercise; or 

     

    (c) a
      combination of paragraphs (a) and (b) immediately above.

     

    5.     Termination
      of Relationship; Vesting Acceleration on Certain Events.
      Following
      the date of the Optionee’s termination of employment for any reason (the
“Termination Date”), Optionee may exercise the Option only as set forth in the
      Notice and this Section 5. To the extent that Optionee is not vested in the
      Shares as of his or her Termination Date, the Option shall terminate as to
      unvested Shares as of the Termination Date. If Optionee does not exercise this
      Option as to vested Shares prior to the earlier of the Expiration Date of the
      Option as set forth in the Notice or the relevant dates specified below in
      this
      Section 5, the Option shall terminate in its entirety. In no event, may the
      Option be exercised as to any Shares after the Expiration Date of the Option
      as
      set forth in the Notice.

     

    (a) Termination
      as a Result of Death or Disability.
      In
      the
      event of the Optionee’s termination of employment as a result of his or her
      death or Disability (as defined in Section 2(q) of the Plan), any unvested
      Shares under the Option shall immediately become fully vested and exercisable
      and all remaining Shares subject to the Option shall remain exercisable until
      the earlier of:

    

    (i) the
      Expiration Date; or 

     

    (ii) the
      one
      (1) year anniversary of the day the Optionee terminates employment or service
      due to death or Disability.

     

    In
      the
      event of the Optionee’s death, the Optionee’s beneficiary or estate may exercise
      the vested Shares under the Option. 

    

    (b) Termination
      as a Result of Involuntary Termination or Resignation for Good
      Reason.
      In
      the
      event of the Optionee’s termination of employment as a result of his or her
      Involuntary Termination (as defined in Section 2(aa) of the Plan) or Resignation
      for Good Reason (as defined in Section 2(tt) of the Plan), any unvested Shares
      under the Option shall immediately become fully vested and exercisable and
      all
      remaining Shares subject to the Option shall remain exercisable until the
      earlier of:

    

    (i) the
      Expiration Date; or 

     

    (ii) the
      six
      (6) month anniversary of the day the Optionee terminates employment due to
      an
      Involuntary Termination or Resignation for Good Reason. 

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

       

    

    (c) Termination
      as a Result of Retirement.
      In
      the
      event of the Optionee’s termination of employment as a result of his or her
      Retirement, the vesting of the Option shall accelerate such that Optionee shall
      be vested in and able to exercise the Option as of the Termination Date as
      to
      that number of Shares subject to the Option that equals the product
      of:

     

    (i) the
      total
      number of Shares subject to the Option, times
      

     

    (ii) a
      ratio,
      the numerator of which is the total number of months of employment from November
      15, 2006 to the end of the month in which the date of termination due to
      Retirement occurs, and the denominator of which is thirty-seven and one-half
      (37.5), rounded to the nearest whole number; less

     

    (iii) the
      total
      number of Shares in which you have previously vested prior to your date of
      Retirement. 

     

    The
      remaining portion of the unvested and unexercisable Option which is not
      accelerated for vesting purposes shall be immediately forfeited. 

    

    Example:
      The
      following example is included merely for demonstrative purposes. 

    

    Ann
      is
      granted 1,000 Options on November 15, 2006. She will vest in her Options as
      follows: (1) 333 Options on December 31, 2007, (2) 333 Options on December
      31,
      2008, and (3) 334 Options on December 31, 2009. Ann subsequently announces
      her
      Retirement effective June 1, 2008. 

    

    As
      of
      June 1, 2008, Ann will immediately vest in additional Shares underlying the
      unvested Options equal to the amount of 187 (equal to 1,000 Options multiplied
      by 19.5
      months of employment from November 1, 2006 divided
      by 37.5
      reduced
      by 333
      Shares previously vested). 

     

    All
      vested Shares subject to the Option (including those Shares under the Option
      which become immediately vested and exercisable pursuant to this paragraph
      (c))
      shall remain exercisable until the earlier of:

    

    (A) the
      Expiration Date; or 

    

    (B) the
      thirty-sixth (36) month anniversary of the day the Optionee terminates
      employment due to Retirement.

    

    The
      unvested portion of the Option shall be immediately forfeited. 

    

    (d) Termination
      for Cause.
      In
      the
      event the Optionee’s employment is terminated for Cause (as defined in Section
      2(i) of the Plan), all unvested Shares under the Option and all unexercised,
      vested Shares under the Option shall expire immediately, be forfeited and
      considered null and void, and the provisions of Section 9 of this Option
      Agreement shall control. 

     

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

       

    

    (e) Termination –
      General.
      In
      the
      event of the Optionee’s termination of employment other than as a result of
      Optionee’s death, Disability (as defined in Section 2(q) of the Plan),
      Involuntary Termination (as defined in Section 2(aa) of the Plan), Resignation
      for Good Reason (as defined in Section 2(tt) of the Plan), Retirement, or Cause
      (as defined in Section 2(i) of the Plan), Optionee may, to the extent he or
      she
      is otherwise vested in the Option at the Termination Date, exercise such Options
      and such Options shall remain exercisable until the earlier of:

    

    (i) the
      Expiration Date; or 

     

    (ii) the
      date
      which is thirty (30) days after the day the Optionee terminates employment
      for
      reasons other than as a result of Optionee’s death, Disability (as defined in
      Section 2(q) of the Plan), Involuntary Termination (as defined in Section 2(aa)
      of the Plan), Resignation for Good Reason (as defined in Section 2(tt) of the
      Plan), Retirement, or Cause (as defined in Section 2(i) of the
      Plan).

     

    The
      unvested portion of the Option shall be immediately forfeited. 

    

    (f) Change
      in Control Acceleration.
      In
      the
      event of a Change in Control (as defined in Section 2(j) of the Plan) which
      closes on a date prior to an Optionee’s termination of employment, any unvested
      Shares under the Option shall immediately become fully vested and exercisable
      and all remaining Shares subject to the Option shall remain exercisable through
      their Expiration Date, effective as of immediately prior to consummation of
      the
      Change in Control. Notwithstanding the foregoing, to the extent that an
      employment, change in control or other agreement or arrangement with the Company
      or an Affiliate provides benefits of greater value upon a Change in Control
      that
      those provided in this paragraph (f), the rights set forth in such other
      agreement shall supersede the provisions of this paragraph (f). Comparatively,
      to the extent that an employment, change in control or other agreement or
      arrangement with the Company or an Affiliate provides benefits of lesser value
      upon a Change in Control that those provided in this paragraph (f), the rights
      set forth in this paragraph (f) shall supersede the provisions of such other
      agreement.

     

    (g) Other
      Termination Events.
      Notwithstanding
      anything to the contrary contained in this Option Agreement, the Option will
      terminate and expire immediately upon the occurrence of the circumstances set
      forth in Section 11.2 of the Plan, and the provisions of Section 9 of the Option
      Agreement shall control.

     

    6.     Relation
      of Other Agreement(s) to Option.
      As
      an
      express condition to acceptance of this Option, subject to the special exception
      provided under Section 5(f) of this Option Agreement (which governs a Change
      in
      Control situation), you agree that: 

     

    (a) Except
      to
      the extent you are or subsequently become a party to a written service or other
      agreement with the Company (such agreement(s), which for the avoidance of doubt,
      do not include any agreements entered into with Affiliates or Subsidiaries
      of
      the Company) (the “Other Agreement”), the only vesting and lapse of forfeiture
      restriction provisions that govern the Option under this Option Agreement are
      set forth in Section 5 of this Option Agreement;

     

    (b) To
      the
      extent that the vesting and lapse of forfeiture restriction provisions of this
      Option Agreement or the Plan’s
      terms
      are inconsistent with an Other Agreement, the provisions of your Other Agreement
      shall govern and control, subject to the special exception provided under
      Section 5(f) of this Option Agreement (which governs a Change in Control
      situation); and

     

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

       

    

    (c) Except
      as
      expressly provided in paragraph (b) above, the terms of any Other Agreement
      shall in no way alter or amend, or provide additional rights or benefits, under
      the Option governed by this Option Agreement. 

     

    7.     Non-Transferability
      of Option.
      This
      Option may not be transferred in any manner otherwise than by will or by the
      laws of descent or distribution and may be exercised during the lifetime of
      Optionee only by him or her. The terms of this Option shall be binding upon
      the
      executors, administrators, heirs, successors and assigns of
      Optionee.

     

    8.     Changes
      in Company’s Capital Structure.
      Subject
      to any required action by the Company’s Board and stockholders, as may be
      determined to be appropriate and equitable by the Committee, to prevent dilution
      or enlargement of rights, the Committee shall:

     

    (a) adjust
      proportionately the number of Shares covered by the Option and the Exercise
      Price for any increase or decrease in the number of issued and outstanding
      shares of common stock resulting from a subdivision or combination of such
      shares or the payment of a stock dividend or any other increase or decrease
      in
      the number of such outstanding shares of common stock of the Company effected
      without the receipt of consideration by the Company; and 

     

    (b) if
      the
      Company is a participating corporation in any merger or consolidation and
      provided the Option is not terminated upon consummation of such merger or
      consolidation, modify such Option to pertain to and apply to the securities
      or
      other property to which a holder of the number of shares subject to the
      unexercised portion of this Option would have been entitled upon such
      consummation. 

     

    Notwithstanding
      anything to the contrary, such adjustments by the Committee shall be final,
      binding and conclusive.  

     

    9.     Forfeiture
      Events. Upon
      the
      occurrence of any of the events set forth in Section 11.2 of the Plan (a
“Forfeiture Event”), Optionee, without any further action by the Company or
      Optionee, shall forfeit, as of the first day of any such Forfeiture
      Event:

     

    (a) all
      right, title and interest to this Option; 

     

    (b) any
      Shares issued upon exercise of the Option then owned by the Optionee; and

     

    (c) any
      and
      all profits realized by the Optionee, on an after-tax basis, pursuant to any
      sales or transfer of any Shares previously subject to the Option within the
      six
      (6) month period prior to the date of such Forfeiture Event. 

     

    
      
        
        

      

      
        8

        
          

        

      

      
        
        

      

       

    

    Additionally,
      the Company shall have the right to issue a stop transfer order and other
      appropriate instructions to its transfer agent with respect to this Option
      and
      the Shares, and the Company further shall be entitled to reimbursement from
      the
      Optionee of any fees and expenses (including attorneys’ fees) incurred by or on
      behalf of the Company in enforcing the Company’s rights under this Section 9. By
      accepting this Option Grant, the Optionee hereby consents to a deduction from
      any amounts the Company owes to Optionee from time to time (including amounts
      owed to the Optionee as compensation as well as any other amounts owed to
      Optionee by the Company), to the extent of any amounts that the Optionee owes
      to
      the Company under this Section 9. Whether or not the Company elects to make
      any
      set-off in whole or in part, if the Company does not recover by means of set-off
      the full amount the Optionee owes to the Company, calculated as set forth above,
      the Optionee agrees to pay immediately the unpaid balance to the
      Company.

     

    10.    US
      Tax Consequences.
      Below
      is
      a brief summary as of the date of this Option of certain United States federal
      tax consequences of exercise of this nonqualified stock option and disposition
      of the Shares under the laws in effect as of the Date of Grant. THIS
      SUMMARY IS INCOMPLETE, AND THE TAX LAWS AND REGULATIONS ARE SUBJECT TO CHANGE.
      OPTIONEE SHOULD CONSULT A TAX ADVISER BEFORE EXERCISING THIS OPTION OR DISPOSING
      OF THE SHARES. There
      may
      be a regular federal (and state) income tax liability upon your exercise of the
      Option. You will be treated as having received compensation income (taxable
      at
      ordinary income tax rates) equal to the excess, if any, of the Fair Market
      Value
      of the Shares on the date of exercise over the Exercise Price. If you are an
      Employee (as defined in Section 2(s) of the Plan), the Company will be required
      to withhold from your compensation or collect from you and pay to the applicable
      taxing authorities an amount of income and employment taxes equal to a
      percentage of this compensation income at the time of exercise. If Shares issued
      upon exercise of this Option are held for at least one year, any gain realized
      on disposition of those Shares will be treated as long-term capital gain for
      federal income tax purposes. You are obligated as a condition of exercise of
      this Option to satisfy any applicable withholding tax obligations that apply
      thereto.

     

    11.    Effect
      of Agreement.
      Optionee
      acknowledges receipt of a copy of the Plan and represents that he or she is
      familiar with the terms and provisions thereof (and has had an opportunity
      to
      consult counsel regarding the Option terms), and hereby accepts this Option
      and
      agrees to be bound by its contractual terms as set forth herein and in the
      Plan.
      Optionee hereby agrees to accept as binding, conclusive and final all decisions
      and interpretations of the Committee (as defined in Section 2(m) of the Plan)
      regarding any questions relating to the Option. In the event of a conflict
      between the terms and provisions of the Plan and the terms and provisions of
      the
      Notice and this Option Agreement, the Plan terms and provisions shall
      prevail.

     

    12.    Governing
      Law.
      The
      laws
      of the state of New Jersey, without giving effect to principles of conflicts
      of
      law, will apply to the Plan, to the Option and the Option Agreement (including
      the Notice). The Company agrees, and Optionee agrees as a condition to
      acceptance of the Option, to submit to the jurisdiction of the courts located
      in
      the jurisdiction in which the Optionee is employed, or was most recently
      employed, by the Company.

     

    13.    Data
      Protection.
      Optionee
      acknowledges and agrees (by executing this Option Agreement) to the collection,
      use, processing and transfer of certain personal data as described in this
      Section 13. The Optionee understands that he or she is not obliged to consent
      to
      such collection, use, processing and transfer of personal data. However, the
      Optionee understands that his or her failure to provide such consent may affect
      his or her ability to participate in the Plan. The Optionee understands that
      the
      Company may hold certain personal information about the Optionee, including
      his
      or her name, social security number (or other tax identification number),
      salary, nationality, job title, position evaluation rating along with details
      of
      all past awards and current awards outstanding under the Plan, for the purpose
      of managing and administering the Plan (the “Data”). The Company, or its
      Affiliates, will transfer Data amongst themselves as necessary for the purpose
      of implementation, administration and management of the Plan. The Company and/or
      any of it Affiliates may further transfer Data to any third parties assisting
      the Company in the implementation, administration and management of the Plan.
      These various recipients of Data may be located in elsewhere throughout the
      world. The Optionee authorizes these various recipients of Data to receive,
      possess, use, retain and transfer the Data, in electronic or other form, for
      the
      purposes of implementing, administering and managing the Plan, including any
      required transfer of such Data as may be required for the subsequent holding
      of
      Shares subject to the Option on the Optionee’s behalf by a broker or other third
      party with whom the Optionee may elect to deposit any Shares subject to the
      Option acquired pursuant to the Plan. The Optionee understands that he or she
      may, at any time, review Data with respect to the Optionee and require any
      necessary amendments to such Data. The Optionee also understands that he or
      she
      may withdraw the consents to use Data herein by notifying the Company in
      writing; however, the Optionee understands that by withdrawing his or her
      consents to use Data, the Optionee may affect his or her ability to participate
      in the Plan.

     

    
      
        
        

      

      
        9

        
          

        

      

      
        
        

      

       

    

    14.    Employment
      Matters.
      The
      award
      of this Option does not form part of your entitlement to remuneration or
      benefits in terms of your employment with your employer. Your terms and
      conditions of employment are not affected or changed in any way by this Option
      or by the terms of the Plan or this Option Agreement. No provision of this
      Option Agreement or of the Option granted hereunder shall give the Optionee
      any
      right to continue in the service or employ of the Company or any Affiliate,
      create any inference as to the length of employment or service of the Optionee,
      affect the right of the Company or any Affiliate to terminate the employment
      or
      service of the Optionee, with or without Cause (as defined in Section 2(i)
      of
      the Plan), or give the Optionee any right to participate in any employee welfare
      or benefit plan or other program (other than the Plan) of the Company or any
      Affiliate. Optionee acknowledges and agrees (by executing this Option Agreement)
      that the granting of Options under this Option Agreement are made on a fully
      discretionary basis by the Company and that this Option Agreement does not
      lead
      to a vested right to further Option awards in the future. Further, the Options
      set forth in this Option Agreement constitute a non-recurrent benefit and the
      terms of this Option Agreement are only applicable to the Options distributed
      pursuant to this Option Agreement.

     

    15.    Tax
      Provisions Applicable to Non-US Persons.
      This
      Section 15 shall apply to you if you are resident in and/or subject to the
      laws
      of a country other than the United States at the time of grant of this Option
      and during the period in which you hold this Option or the Shares issued
      pursuant thereto.

     

    (a) Applicable
      if you are not a US person (including as to UK persons):
      You
      hereby agree to indemnify and keep indemnified the Company and any Affiliate
      from and against any liability for, or obligation to pay, income tax and
      employer’s and/or employee’s national insurance or social security contributions
      arising on the grant of the Option, vesting of the Shares or the exercise of
      the
      Option.

     

    (b) Applicable
      if you are a UK person:
      Where
      any
      obligation to pay income tax or employee’s national insurance contributions or
      social security contributions (any such obligation or contribution, a “Tax
      Liability”) arises, the Company or any Affiliate may recover from you an amount
      of money sufficient to meet the Tax Liability by any of the following
      arrangements: 

     

    
      
        
        

      

      
        10

        
          

        

      

      
        
        

      

       

    

    (i) deduction
      from salary or other payments due to you; or 

     

    (ii) withholding
      from the issuance to you of that number of Shares (otherwise to be acquired
      by
      you on exercise of the Option) whose aggregate Fair Market Value on the date
      of
      exercise is, so far as possible, equal to but neither less than nor more than
      the amount of Tax Liability.

     

    16.    Severability.
      In the
      event that any provision of this Option Agreement shall be held illegal or
      invalid for any reason, the illegality or invalidity shall not affect the
      remaining parts of this Option Agreement, and this Option Agreement shall be
      construed and enforced as if the illegal or invalid provision had not been
      included.

     

    17.    Waiver;
      Cumulative Rights.
      The
      failure or delay of either party to require performance by the other party
      of
      any provision hereof shall not affect its right to require performance of such
      provision unless and until such performance has been waived in writing. Each
      and
      every right hereunder is cumulative and may be exercised in part or in whole
      from time to time.

     

    18.    Amendment
      of Nonqualified Stock Option.
      The
      Committee may at any time amend, alter, suspend or discontinue the Plan, but
      no
      amendment, alteration, suspension or discontinuation (other than as explicitly
      permitted under the Plan) shall be made that would adversely affect your rights
      under this Option Agreement without your consent.

     

    19.    Representations.
      As
      a
      condition to your receipt of this Option, you represent and warrant the
      following: 

     

    (a) You
      are
      aware of the Company’s business affairs and financial condition and have
      acquired sufficient information about the Company to reach an informed and
      knowledgeable decision to accept this Option; 

     

    (b) You
      are
      acquiring the Option and the Shares subject thereto for investment only for
      your
      own account, and not with a view, or for resale in connection with, any
“distribution” thereof under Applicable Law (as defined in Section 2(c) of the
      Plan); 

     

    (c) You
      understand that neither Option nor the Shares have been registered in all State
      jurisdictions within the United States, and that the exemption(s) from
      registration relied upon may depend upon your investment intent as set forth
      above; 

     

    (d) You
      further understand that prior to any resale by you of the Shares acquired upon
      exercise of this Option without registration of such resale in relevant State
      jurisdictions, the Company may require you to furnish the Company with an
      opinion of counsel acceptable to the Company that you may sell or transfer
      such
      Shares pursuant to an available exemption under Applicable Law; 

     

    (e) You
      understand that the Company is under no obligation to assist you in this process
      by registering the Shares in any jurisdiction or by ensuring that an exemption
      from registration is available; and 

     

    (f) You
      further agree that as a condition to exercise of this Option, the Company may
      require you to furnish contemporaneously dated representations similar to those
      set forth in this Section 19.

     

    

    
      
        
        

      

      
        11

        
          

        

      

      
        
        

      

    

    EXHIBIT
      A

     

    FOSTER
      WHEELER LTD. OMNIBUS INCENTIVE PLAN

     

    Employee’s
      Notice of Exercise of Nonqualified Stock Option

     

     

    
      	To:	 Foster Wheeler
              Ltd.
	Attn:	 Stock Option
              Administrator
	Subject:	 Notice of Intention to Exercise
              Stock Option

    

     

    This
      is
      official notice that the undersigned (“Optionee”) intends to exercise Optionee’s
      option to purchase _________ Common Shares of Foster Wheeler Ltd., under and
      pursuant to the Company’s Omnibus Incentive Plan and the Option Agreement dated
   :

     

    
      	
              Date
                of Exercise: 

               

            	 
	
              Number
                of Shares: 

               

            	 
	
              Exercise
                Price:

               

            	 
	
              Method
                of Payment of Exercise Price:

               

            	 
	
              Social
                Security Number:

               

            	 

    

     

    The
      Shares should be issued as follows:

     

    
      	
              Name:

               

            	 
	
              Address:

               

            	 
	
              Signed:
                

               

            	 
	
              Date:

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00113-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00113-of-00352.parquet"}]]