Document:

Exhibit 4.2

 

	
  

  	
  Delaware NUMBER
  SHARES # *#* NEW POWER-ONE, INC. AUTHORIZED: 330,000,000 SHARES SEE LEGEND ON
  REVERSE SIDE OF THIS CERTIFICATE 300,000,000 SHARES COMMON STOCK 30,000,000
  SHARES PREFERRED STOCK $0.001 PAR VALUE EACH $0.001 PAR VALUE EACH This
  Certificate that SAMPLE ONLY is the owner of **#** shares of the Capital
  Stock of COMMON STOCK OF NEW POWER-ONE, INC. transferable only on the looks
  of the Corporation by the holder hereof in person only Attorney upon
  surrender of this Certificate properly endorsed. IN WITNESS WHEREOF, the said
  Corporation has caused this Certificate to be signed by its duly authorised
  officers and its Corporate Seal to be hereunto affixed this day of A.D. 20 ©
  GOES 701⁄2

  

 

	
  

  	
  THE CERTIFICATE
  OF INCORPORATION (THE “CERTIFICATE OF INCORPORATION”) OF THE CORPORATION  CONTAINS RESTRICTIONS
  PROHIBITING, SUBJECT TO CERTAIN LIMITED EXCEPTIONS, THE TRANSFER (AS  DEFINED IN THE CERTIFICATE OF
  INCORPORATION) OF ANY STOCK OF THE CORPORATION (INCLUDING THE  CREATION OF GRANT OF CERTAIN OPTIONS)
  WITHOUT THE PRIOR AUTHORIZATION OF THE BOARD OF  DIRECTORS OF THE CORPORATION
  (THE “BOARD OF DIRECTORS”) IF SUCH TRANSFER AFFECTS THE  PERCENTAGE OF STOCK OF THE
  CORPORATION (WITHIN THE MEANING OF SECTION 382 OF THE INTERNAL  REVENUE CODE OF 1986, AS AMENDED
  (THE “CODE”) AND THE TREASURY REGULATIONS PROMULGATED  THEREUNDER) THAT IS TREATED AS
  OWNED BY A 5-PERCENT SHAREHOLDER UNDER SECTION 382 OF THE CODE  AND SUCH REGULATIONS. IF THE
  TRANSFER RESTRICTIONS ARE VIOLATED, THEN THE TRANSFER WILL BE VOID  AB INITIO AND THE PURPORTED
  TRANSFEREE OF THE STOCK WILL BE REQUIRED TO TRANSFER EXCESS  SECURITIES (AS DEFINED IN THE
  CERTIFICATE OF INCORPORATION) TO THE CORPORATION’S AGENT IN THE  EVENT OF A TRANSFER WHICH DOES
  NOT INVOLVE SECURITIES OF THE CORPORATION WITHIN THE MEANING  OF THE DELAWARE GENERAL
  CORPORATION LAW (“SECURITIES”) BUT WHICH WOULD VIOLATE THE TRANSFER  RESTRICTIONS, THE PURPORTED
  TRANSFEREE (OR THE RECORD OWNER) OF THE SECURITIES WILL BE  REQUIRED TO TRANSFER SUFFICIENT
  SECURITIES PURSUANT TO THE TERMS PROVIDED FOR IN THE  CERTIFICATE OF INCORPORATION TO
  CAUSE THE 5-PERCENT SHAREHOLDER TO NO LONGER BE IN VIOLATION  OF THE TRANSFER RESTRICTIONS THE
  CORPORATION WILL FURNISH WITHOUT CHARGE TO THE HOLDER OF  RECORD OF THIS CERTIFICATE A
  COPY OF THE CERTIFICATE OF INCORPORATION, CONTAINING THE ABOVE - REFERENCED
  TRANSFER RESTRICTIONS, UPON WRITTEN REQUEST TO THE CORPORATION AT ITS
  PRINCIPAL  PLACE OF BUSINESS. THE
  CORPORATION IS AUTHORIZED TO ISSUE MORE THAN ONE CLASS OF STOCK OR MORE THAN
  ONE SERIES OF ANY CLASS AND THE CORPORATION WILL FURNISH WITHOUT CHARGE TO
  EACH STOCKHOLDER WHO SO REQUESTS THE POWERS, DESIGNATIONS, PREFERENCES AND
  RELATIVE, PARTICIPATING, OPTIONAL, OR OTHER SPECIAL RIGHTS OF EACH CLASS OF
  STOCK OR SERIES THEREOF AND THE QUALIFICATIONS, LIMITATIONS OR RESTRICTIONS
  OF SUCH PREFERENCES AND/OR RIGHTS. CERTIFICATE FOR
  SHARES OF THE Capital Stock ISSUED TO DATED  For Value Received, hereby sell,
  assign and transfer unto Shares of the Capital Stock represented by the
  within Certificate, and do hereby irrevocably constitute and appoint to
  transfer the said Stock on the books of the within named corporation with
  full power of substitution in the premises .Dated 20 In presence of  NOTICE. THE SIGNATURE OF THE
  ASSIGNMENT MUST CORRESPOND WITH THE NAME AS WRITTEN UPON THE FACE OF THE
  CERTIFICATE, IN EVERY PARTICULAR, WITHOUT ALTERATION OR ENLARGEMENT OR ANY
  CHANGE WHATEVER.Blue Sphere Corp.: Exhibit 10.2 - Filed by newsfilecorp.com

Joint Venture Agreement between Navoiazot and Carbon MPV
Limited with respect to abating N2O

This agreement relates to a joint venture carbon credit project
and is entered into in Tashkent on 26 November 2009 between:

1. OAO Navoiazot (“Navoiazot”), which is a legal person under
applicable Uzbekistan law with an address at 210105, Navoi, Navoi - 5 and 

    

2.
Carbon MPV Limited (“MPV”), a Cyprus company with an address at 7 Gregory
Afxentiou Avenue, Francis Court, Suite 11-12B, PO Box 40154, 6301 Larnaca,
Cyprus (the “Parties”).

Taking into consideration that:

a. the Parties signed a binding memorandum on 29 April 2009
(“MoU”) and an agreement dated 16 September 2009 (the “First Agreement”) in
connection with which the Parties jointly studied the possibility of
implementing a project (the “Project”) to reduce emissions of
N2O from the production of nitric acid at Navoi Azot, Production
Line No. 5 in accordance with and pursuant to the rules of the CDM of the
Kyoto Protocol to the UNFCCC and as a tertiary abatement project in accordance
with AM0028; 

b. the Parties further agree to develop the Project on the
basis of the foregoing and the following conditions.

Now, therefore, the Parties have agreed as follows:

Article 1. Granted Rights

1.1 Manner of Submitting the PIN. As the Project
initiator, MPV will submit the PIN to the National Organ of Uzbekistan for CDM
Projects and will select and enter into a contract with a designated operational
entity (DOE) for validation, verification and certification of the Project.

1.2 PDD. MPV will prepare the PDD, which shall
include the data on the baseline scenario that is required for validation of the
PDD. Preparation of the PDD shall commence after this Agreement has been signed.
MPV shall coordinate with the relevant DOE any pre-monitoring for the Project
and, afterwards, the Parties will discuss and agree a time period for completing
the PDD. 

1.3 Approval of the Uzbekistan Designated National
Authority (DNA). Navoiazot will obtain the necessary approvals from the
Uzbekistan DNA and perform all obligations within Uzbekistan relating to
licensing, permits, agreements, concessions and authorisations required for the
Project.

1.4 Receipt of registration and other approvals for the
Project. Both Parties will use reasonable endeavours to register the
Project and obtain all other approvals for the Project. The Parties will also
accomplish all necessary actions to affirm the Project in the country of the
purchaser of the CERs to be produced by the Project in accordance with the Kyoto
Protocol (KP). The Parties will work closely with the DOE and facilitate with
respect to validation, registration, verification, certification of the
emissions reduction and issue of the Project’s CERs by the Executive Board of
the UN.

1.5 Action Plan for Monitoring. MPV in
coordination with Navoiazot will prepare a monitoring plan in accordance with
the KP (“Monitoring Plan”). Navoiazot will implement the Monitoring Plan and
will conduct the monitoring required thereby. 

1.6 Communications. Both Parties agree that MPV
will be the focal point for all communications relating to the Project with all
international commissions, bureaus, departments, administrative agencies,
regulatory authorities in order to achieve the goals of the UNFCCC (collectively
“International Agencies”), including, but not limited to, communications
relating to the allocation of CERs. MPV will inform Navoiazot of all
communications with International Agencies relating to the Project.

1.7 Transfer of CERs. Navoiazot agrees to support
MPV’s request that it have the authority to allocate all CERs obtained from the
Project to its own registry account or the registry account of a third party
purchaser.

Article 2. Entry into force and term

The Parties agree that additional authorisation is required
prior to preparing and submitting all documentation and taking the various
actions required for the Project as described more fully in Articles 1-7 and
that all agreements described in Article 10 are conditional upon the performance
of all preliminary actions described below: 

a) receipt of approval of the
Supervisory Board of Navoiazot and the board of directors of MPV; and 

b) receipt
of approval from the Uzbekistan DNA and any other required Uzbekistan
authorities of the Project PIN.

The Parties agree that all documentation or actions required
for the Project described in Articles 1-7 below and any other agreements to be
entered into in connection with the Project (as described in Article 10 below)
will not conflict with the terms and conditions of this Agreement.

Article 3. Services to be provided by MPV 

3.1. MPV will provide Navoiazot the following services
(Services):

a) PIN, PDD and registration of the Project, as described in
sub-articles 1.1. , 1.2 & 1.4 above; 
b) financing the expenses described in
Article 5; 
c) provision of data required for the installation of monitoring
and other required equipment; 
d) delivery of measurement equipment,
equipment for processing and storing data and a means for transferring data,
together with all technical documentation, required for the Project; 
e)
taking of measurements of instrumentation to be used in the Project as required
by Uzbekistan legislation and submission thereof to the Uzbekistan State
Registry; 
f) delivery of other required equipment and the catalyst together
with all technical documentation; and 
g) marketing and sale of CERs in
accordance with Article 6 hereof.

Article 4. Acquisition of equipment and catalyst for the
Project

4.1 MPV will purchase and deliver equipment and catalyst for
the Project pursuant to a tender process in accordance with the laws of
Uzbekistan and in coordination with the engineers of the factory and the
Supervisory Committee of Navoiazot.

4.2 The technical conditions relating to the Project equipment,
including monitoring equipment, will be prepared jointly by MPV and Navoiazot
and will correspond to the relevant methodology approved by the UN.

Article 5. General Expenses, Exploitation Costs and
Provision of Means to Abate N2O

5.1 The following items will be considered General Expenses to
be financed by MPV and to be reimbursed to MPV out of the proceeds to be
received from the sale of CERs:

Costs to be financed by MPV

5.1.1 Commercial Proposal
5.1.2 PDD;
5.1.3
validation;
5.1.4 initial verification;
5.1.5 registration with the
UN;
5.1.6 verification of the first issue of CERs; 
5.1.7 equipment for
tail gas system, including the catalyst; 
5.1.8 cost of the tertiary catalyst
until the issuance of CERs, including installation;
5.1.9 project management
work required in connection with installing the catalyst and all related systems
and equipment;
5.1.10 spare parts for items 5.1.6 and 5.1.14; 
5.1.11
spare parts for maintenance/special instruments for 5.1.6;
5.1.12 cost of
project and installation work, cost of fine-tuning equipment for the tail gas
system, which will be per-formed by the factory;
5.1.13 cost of servicing and
maintaining the monitoring system;
5.1.14 transportation expenses; 
5.1.15
exploitation costs (natural gas, electricity and servicing) before receipt of
CERs;

5.1.16 cost of monitoring equipment corresponding to AM0028; &

5.1.17 customs duties and all other applicable taxes imposed on any
equipment and local workers prior to the receipt of CERs.

Expenses to be financed out of CER revenues

5.1.18 preparation of the PDD for the second and third
crediting periods; 
5.1.19 verification of the second and subsequent
issuances of CERs; 
5.1.20 amounts of CERs to be allocated to the
UN;
5.1.21 other Project expenses to be incurred in Uzbekistan to be agreed
by both Parties;

5.1.22 customs duties and all other applicable taxes imposed
on the import of any equipment and local workers; &
5.1.23 exploitation
expenses (natural gas, electricity and servicing) after receipt of CERs.

5.2. The Parties will reach agreement with respect to
exploitation costs prior to applying to register the Project with the Executive
Board of the CDM.

Article 6. Marketing and sale of CERs

6.1 Both Parties agree that marketing of CERs will be
accomplished in a transparent manner that is acceptable to both Parties. The
Parties will discuss and agree the details of the relevant procedures.

6.2 Except as follows, both Parties agree not to sell,
transfer, license, dispose, gift or engage with third parties in any manner with
respect to the Project’s CERs. The Parties agree to conduct any such
transactions only in accordance with the agreement on CER marketing and sale to
be entered into subsequently by the Parties and which will become an integral
part of this Agreement.

6.3 Marketing strategy and sale of CERs will be determined and
agreed pursuant to a separate agreement in accordance with Article 10
hereof.

6.4. MPV and Navoiazot jointly agree to seek the most effective
disposal of the Project’s CERs on the basis of transparent procedures and at
prices that are not less than prevailing market prices.

Article 7. Reimbursement of Expenses and Allocation of
Profit

7.1 Both Parties agree to divide the CERs from the Project in
the following manner: 

The General Expenses described in Article 5 will be reimbursed
from the revenue to be received from the sale of CERs. In this connection, each
year, an amount sufficient to cover the relevant expenses will be deducted from
any CER revenue and reimbursed to the relevant Party until 100% of such expenses
have been reimbursed. Any remaining revenues will be allocated amongst the
Parties in accordance with sub-article 7.3 below.

7.2 If not otherwise stipulated in writing, each Party will
bear its own expenses relating to the Project, including but not limited to,
costs associated with this Agreement. 

7.3 On the condition that MPV fulfils its obligations in
Articles 3 and 6 and after reimbursing all relevant costs (described in Article
5), all remaining CER revenues will be allocated amongst the Parties in
accordance with and pursuant to a separate written agreement described in
Section 10.3 below. 

7.4 If any Party ceases its performance hereunder in accordance
with Article 11, any losses or expenses of the Parties will be for the account
of the relevant Party in accordance with sub-article 7.2 above.

7.5 Both Parties will receive their respective share of CER
revenue in accordance with arrangements to be made by the Parties relating to
bank accounts and wire transfers.

Article 8. Exclusivity

Both Parties agree that after receipt of relevant Uzbekistan
approvals, neither Party will enter into any discussions with any other parties
relating to participating in the Project without the written consent of the
other Party.

Article 9. Confidentiality

9.1. For so long as this Agreement is in force and for 5 years after its termination, the Parties agree to keep confidential all information marked as confidential received from the other Party and not to disclose such information without the
consent of the Party. Nor will either party use any confidential information other than for the purposes of this Agreement. 

9.2. For the avoidance of doubt, confidential information will include all documents, data, technical information, business, financial and other information, written or oral, disclosed in connection with this Project with the exception of documents,
data and/or information that: 

a) when disclosed or subsequently, is or becomes public information (not including as a result of a breach of this Agreement); 

b) was in the possession of the disclosing Party prior to its receipt from the other Party;
and 

c) was received from a third-party and is not subject to any limitations on its disclosure.

9.3 Notwithstanding the foregoing, the receiving Party may disclose confidential information to its counsel, technical or commercial consultants and its partners (collectively “Consultants”) for the purpose of implementing the Project on
the condition that the receiving Party inform its Consultants of the confidential nature of such information and bind the Consultant to observe the provisions contained in this Article 9. 

Article 10. Additional Agreements 

Both Parties are willing to continue further work in connection with the Project so that prior to the delivery to the UN of an application to register the Project, the following agreements will be signed and become an integral part of this
Agreement:

10.1 Agreement on Financing the System of N2O Abatement, which will determine the conditions, terms and procedures of financing expenses incurred for the Project as described in Article 5 hereof.

10.2 Agreement on Marketing and Sale of CERs, which will determine the strategy of marketing, the principles of sale of CERs and the movement of funds in accordance with the conditions set out in Article 6 hereof.

10.3 Agreement on Reimbursement of Expenses, Allocation of Profit and Covering Losses, which will determine the procedures and terms of expense reimbursement and profit allocation in accordance with Article 7 hereof.

10.4 Agreement on Banking Procedures, which will determine the manner in which MPV and Navoiazot will contribute funds to the Project and receive funds from CER revenues in accordance with the procedures of the CDM.

Article 11. Term and Termination

11.1 This Agreement remains in force for the longer of the (i) so long as the Kyoto Protocol is in force (as amended or extended) or (ii) so long as there is a market for the CERs to be produced by the Project.

11.2 Notwithstanding anything to the contrary contained herein, either Party may terminate this Agreement by written notice to the other Party in the event of a material breach of this Agreement and the failure to cure such breach within 14 days of
receipt of notice thereof.

11.3 Notwithstanding any cessation of this Agreement, the right to receive profit in accordance with sub-article 7.3 and the obligation to perform any unperformed obligations remain in force and survives any termination hereof.

11.4. The termination of this Agreement in accordance with the foregoing will be without prejudice to Article 9 hereof, which will also remain in force notwithstanding any termination. 

Article 12. Force Majeure

The failure to perform or delay in performance shall not constitute a breach of this Agreement if such failure or delay is caused by force majeure circumstances. The Party that is subject to force majeure circumstances shall within 3 days of
learning thereof inform the other Party in writing and supply supporting documents or evidence. Force majeure circumstances shall include events that are beyond the control of a Party or are extraordinary events that delay or render performance
unfeasible or impossible. In particular, such circumstances will include any of the following: (a) natural calamity (e.g., lightning, earthquake, flood, mudslide, etc.), fire, accident, explosion, epidemic and quarantine; (b) military conflict,
blocade, revolution, diversion, armed revolt or extraordinary events taking place in the relevant region; (c) strikes and other labour conflicts; and (d) any other event, reason or circumstance analogous to the foregoing and that is beyond the
control of the Parties. 

Article 13. Amendments to this Agreement

13.1 Any changes to this Agreement will be accomplished by means of supplemental written agreements between the Parties. 

13.2 Navoiazot agrees that MPV may transfer its right, title and interest in, to and under this Agreement to a third party who provides financing for the Project.

Article 14. Governing Law and Dispute Resolution 

14.1 This Agreement is governed by the law of Uzbekistan without regard for its conflict of laws principles. Disputes arising under this Agreement, to the extent they are not regulated by Uzbekistan law, shall be settled in arbitration in accordance
with the rules and procedures of the London Court of International Arbitration. The decision of the arbiter shall be final.

14.2 This Agreement shall also be subject to the legal principle of “pacta sunt servanda” (agreements should be performed).

14.3 Each Party agrees to try to resolve all disputes and conflicts that arise between them in connection with this Agreement through timely negotiations. If the Parties do not resolve their conflict within 90 days, such conflict may be referred to
arbitration in accordance with Section 14.1 above.

Article 15. Other Conditions

15.1 The entry into and delivery of this Agreement has been approved by the management of ach Party.

15.2 Navoiazot and MPV agree that MPV is and may be referred to in any Project documentation a Project Participant.

15.3 This Agreement constitutes the entire understanding between the parties and supersedes any prior communications, representations or agreements, whether oral or in writing, regarding the same matter between them. 

15.4 The Project participants shall be subject to taxation in accordance with applicable Uzbekistan legislation.

15.5 The unenforceability of any provision of this Agreement shall be without prejudice of the efficacy of the remaining provisions. Any unenforceable provision shall be replaced by such enforceable provisions as comes nearest in its commercial
effect to the unenforceable provision and the mutual will of the parties.

Article 15. Notice 

All official notices, requests and other communications relating to this Agreement shall be in writing in Russian or, upon agreement of the Parties, in English and will be considered received on the date of their dispatch (if delivered personally)
or the date of their receipt (if sent by courier). 

IN WITNESS WHEREOF, this Agreement is executed by each party by
its duly authorized representative on the 
date set forth
above.

OAO Navoiazot
___________________________
Bogrisov

Chairman of the Board 
OAO Navoiazot 

Carbon MPV
Limited
_____________________________
Mark Radom
General
Director
Carbon MPV Limited

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