Document:

BY-LAWS

    
      
        
 OF

    

    
      

    

     

    HEMCURE,
      INC.

     

    
      

    

    ARTICLE
      I

    
      

    

      Offices

    
      
 

    

    

    Section
      1. Principal executive office. The principal executive office of the corporation
      may be at any such location as the board of directors may from time to time
      determine or the business of the corporation may require.

    

    Section
      2. Registered Office. The location and address of the registered office of
      the
      corporation is 500 IDS Center 80 South Eighth Street, Minneapolis, Minnesota.
      The registered office need not be identical with the principal executive office
      of the corporation and may be changed from time to time by the Board of
      Directors.

    

    Section
      3. Other Offices. The corporation may have other offices at such places within
      and without the State of Minnesota as the Board of Directors may from time
      to
      time determine.

    

    ARTICLE
      II

    
      

    

     

    Meetings
      of Shareholders

    
      
 

    

    Section
      1. Place of Meeting. All meetings of the shareholders shall be held at a
      location designated by the Board of Directors in the notice of meeting. Any
      regular or special meeting of the shareholders of the corporation called by
      or
      held pursuant to a written demand of shareholders shall be held in the county
      where the principal executive office is located.

    

    Section
      2. Regular Meetings. Regular meetings of the shareholders of this corporation
      may be held at the discretion of the Board of Directors on an annual or less
      frequent periodic basis on such date and at such time and place as maybe
      designated by the Board of Directors in the notice of meeting. At regular
      meetings the shareholders shall elect a Board of Directors and transact such
      other business as may be appropriate for action by shareholders. If a regular
      meeting of shareholders has not been held for a period of fifteen (15) months,
      one or more shareholders entitled to vote may call a regular meeting of
      shareholders by delivering to the President or Treasurer a written demand for
      a
      regular meeting. Within thirty (30) days after the receipt of such written
      demand by the President or Treasurer, the Board of Directors shall cause a
      regular meeting of shareholders to be called and held on notice no later than
      ninety (90) days after the receipt of written demand, all at the expense of
      the
      corporation.

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    Section
      3. Special Meetings. Special meetings of the shareholders, for any purpose
      or
      purposes appropriate for action by shareholders, may be called by the President,
      by the Vice-President in the absence of the president, by the Treasurer, or
      by
      the Board of Directors or any two or more members thereof. Such meeting shall
      be
      held on such date and at such time and place as shall be fixed by the person
      or
      persons calling the meeting and designated in the notice of meeting. Special
      meetings may also be called by one or more shareholders holding not less than
      ten percent (10%) of the voting power of all shares of the corporation entitled
      to vote by delivering to the President or Treasurer a written demand for a
      special meeting, which demand shall contain the purposes of the meeting. Within
      thirty (30) days after the receipt of a written demand for a special meeting
      of
      shareholders by the President or Treasurer, the Board of Directors shall cause
      a
      special meeting of shareholders to be called and held on notice no later than
      ninety (90) days after the receipt of such written demand, all at the expense
      of
      the corporation. Business transacted at any special meeting of shareholders
      shall be limited to the purpose or purposes stated in the notice of meeting.
      Any
      business transacted at any special meeting of shareholders that is not included
      among the stated purposes of such meeting shall be voidable by or on behalf
      of
      the corporation unless all of the shareholders have waived notice of the
      meeting.

    

    Section
      4. Notice of Meetings. Except where a meeting of shareholders is an adjourned
      meeting and the date, time, and place of such meeting were announced at the
      time
      of adjournment, notice of all meetings of shareholders stating the date, time,
      and place thereof, and any other information required by law or desired by
      the
      Board of Directors or by such other person or persons calling the meeting,
      and
      in the case of special meetings, the purpose thereof, shall be given to each
      shareholder of record entitled to vote at such meeting not less than ten (10)
      nor more than fifty (50) days prior to the date of such meeting.

     

    
      Notices
        of meeting shall be given to each shareholder entitled thereto by oral
        communication, by mailing a copy thereof to such shareholder at an address
        he
        has designated or to the last known address of such shareholder, by handing
        a
        copy thereof to such shareholder, or by any other delivery that conforms
        to law.
        Notice by mail shall be deemed given when deposited in the United States
        mail
        with sufficient postage affixed.

    

    

    Any
      shareholder may waive notice of any meeting of shareholders. Waiver of notice
      shall be effective whether given before, at, or after the meeting and whether
      given orally, in writing, or by attendance. Attendance by a shareholder at
      a
      meeting is a waiver of notice of that meeting, except where that shareholder
      objects at the beginning of the meeting to the transaction of business because
      the meeting is not lawfully called or convened and does not participate
      thereafter in the meeting, or objects before a vote on an item of business
      because the item may not lawfully be considered at that meeting and does not
      participate in the consideration of that item at the meeting.

    

    Section
      5. Record Date. For the purpose of determining shareholders entitled to notice
      of and to vote at any meeting of shareholders or any adjournment thereof, or
      shareholders entitled to receive payment of any dividend, or in order to make
      a
      determination of shareholders for any other proper purpose, the Board of
      Directors of the corporation may, but need not, fix a date as the record date
      for any such determination of shareholders, which record date, however, shall
      in
      no event be less than ten (10) or more than fifty (50) days prior to any such
      intended action or meeting.

    

    
      
        
        

      

      
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    Section
      6. Quorum. The holders of a majority of the voting power of all shares of the
      corporation entitled to vote at a meeting shall constitute a quorum at a meeting
      of shareholders for the purpose of taking any action other than adjourning
      such
      meeting. If the holders of a majority of the voting power of all shares are
      not
      represented at a meeting, the shareholders present in person or by proxy shall
      constitute a quorum for the sole purpose of adjourning such meeting, and the
      holders of a majority of the share so represented may adjourn the meeting to
      such date, time, and place as they shall announce at the time of adjournment.
      Any business may be transacted at the meeting held pursuant to such an
      adjournment and at which a quorum shall be represented, which might have been
      transacted at the adjourned meeting. If a quorum is present when a duly called
      or held meeting is convened, the shareholders present may continue to transact
      business until adjournment, even though the withdrawal of a number of
      shareholders originally represented leaves less than the number otherwise
      required for a quorum.

    

    Section
      7. Voting and Proxies. At each meeting of the shareholders every shareholder
      shall be entitled to one vote in person or by proxy for each share of capital
      stock held by such shareholder. No appointment of a proxy shall be valid for
      any
      purpose more than eleven (11) months after the date of its execution, unless
      a
      longer period is expressly provided in the appointment. Every appointment of
      a
      proxy shall be in writing (which shall include telegraphing, cabling, or
      telephotographic transmission), and shall be filed with the Secretary of the
      corporation before or at the meeting at which the appointment is to be
      effective. An appointment of a proxy for shares held jointly by two or more
      shareholders shall be valid if signed by any one of them, unless the Secretary
      of the corporation receives from any one of such shareholders written notice
      either denying the authority of that person to appoint a proxy or appointing
      a
      different proxy. All questions regarding the qualification of voters, the
      validity of appointments of proxies, and the acceptance or rejection of votes
      shall be decided by the presiding officer of the meeting. The shareholders
      shall
      take action by the affirmative vote of the holders of a majority of the voting
      power of the shares present, in person or represented by proxy, and entitled
      to
      vote, except where a different vote is required by law, the Articles or
      Incorporation, or these By-Laws.

     

    Section
      8. Action without Meeting by Shareholders. Any action required or permitted
      to
      be taken at a meeting of the shareholders may be taken without a meeting by
      written action signed by all of the shareholders entitled to vote on such
      action. Such written action shall be effective when signed by all of the
      shareholders entitle to vote thereon or at such different effective time as
      is
      provided in the written action.

    

    
      
        
        

      

      
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    ARTICLE
      III

    
      

    

     

    Directors

    
      

    

    

    Section
      1. General Powers. The business and affairs of the corporation shall be managed
      by or under the direction of its Board of Directors. The directors may exercise
      all such powers and do all such things as may be exercised or done by the
      corporation, subject to the provisions of applicable law, the Articles of
      Incorporation, and these By-Laws.

    

    Section
      2. Number, Tenure, and Qualification. The number of directors which shall
      constitute the whole Board of Directors shall be fixed from time to time by
      resolution of the shareholders, subject to increase by resolution of the Board
      of Directors. In the event that the shareholders fail to fix the number of
      directors, the number of directors shall be the number provided for in the
      Articles of Incorporation, subject to increase by resolution of the Board of
      Directors. No decrease in the number of directors pursuant to this section
      shall
      effect the removal of any director then in office except upon compliance with
      the provisions of Section 7 of this Article. Each director shall be elected
      at a
      regular meeting of shareholders, except as provided in Sections 6 and 7 of
      this
      Article, and shall hold office until the next regular meeting of shareholders
      and thereafter until his successor is duly elected and qualified, unless a
      prior
      vacancy shall occur by reason of his death, resignation, or removal from office.
      Directors shall be natural persons but need not be shareholders.

    

    Section
      3. Meetings. Meetings of the Board of Directors shall be held immediately after,
      and at the same place as, regular meetings of shareholders. Other meetings
      of
      the Board of Directors may be held at such times and places as shall from time
      to time be determined by the Board of Directors. Meetings of the Board of
      Directors also may be called by the President, by the Vice President in the
      absence of the President, or by any director, in which case the person or
      persons calling such meeting may fix the date, time, and place thereof, and
      shall cause notice of meeting to be given.

    

    Section
      4. Notice of Meetings. If the date, time, and place of a meeting of the Board
      of
      Directors has been announced at a previous meeting, no notice is required.
      In
      all other cases three (3) days' notice of meetings of the Board of Directors,
      stating the date and time thereof and any other information required by law
      or
      desired by the person or persons calling such meeting, shall be given to each
      director. If notice of meeting is required, and such notice does not state
      the
      place of the meeting, such meeting shall be held at the principal executive
      office of the corporation. Notice of meetings of the Board of Directors shall
      be
      given to directors in the manner provided in these By-Laws for giving notice
      to
      shareholders of meetings of shareholders.

    

    Any
      director may waive notice of any meeting. A waiver of notice by a director
      is
      effective whether given before, at, or after the meeting, and whether given
      orally, in writing, or by attendance. The attendance of a director at any
      meeting shall constitute a waiver of notice of such meeting, unless such
      director objects at the beginning of the meeting to the transaction of business
      on grounds that the meeting is not lawfully called or convened and does not
      participate thereafter in the meeting.

    

    
      
        
        

      

      
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    Section
      5. Quorum and Voting. A majority of the directors currently holding office
      shall
      constitute a quorum for the transaction of business at any meeting of the Board
      of Directors. In the absence of a quorum, a majority of the directors present
      may adjourn the meeting from time to time until a quorum is present. If a quorum
      is present when a duly called or held meeting is convened, the directors present
      may continue to transact business until adjournment, even though the withdrawal
      of a number of directors originally present leaves less than the number
      otherwise required for a quorum.

    

    The
      Board
      of Directors shall take action by the affirmative vote of a majority of the
      directors present at any duly held meeting, except as to any question upon
      which
      any different vote is required by law, the Articles of Incorporation, or these
      By-Laws. A director may give advance written consent or objection to a proposal
      to be acted upon at a meeting of the Board of Directors. If the proposal acted
      on at the meeting is substantially the same or has substantially the same effect
      as the proposal to which the director has consented or objected, such consent
      or
      objection shall be counted as a vote for or against the proposal and shall
      be
      recorded in the minutes of the meeting. Such consent or objection shall not
      be
      considered in determining the existence of a quorum.

    

    Section
      6. Vacancies and Newly Created Directorships. Any vacancy occurring in the
      Board
      of Directors may be filled by the affirmative vote of a majority of the
      directors remaining in office, even though said remaining directors are less
      than a quorum. Any newly created directorship resulting from an increase in
      the
      authorized number of directors by action of the Board of Directors may be filled
      by a majority vote of the directors serving at the time of such increase. Any
      vacancy or newly created directorship may be filled by resolution of the
      shareholders. Unless a prior vacancy occurs by reason of death, resignation,
      or
      removal from office, any director so elected shall hold office until the next
      regular meeting of shareholders and until his successor is duly elected and
      qualified.

    

    Section
      7. Removal of Directors. The entire Board of Directors or any director or
      directors may removed from office, with or without cause, at any special meeting
      of the shareholders, duly called for that purpose as provided in these By-Laws,
      by a vote of the shareholders holding a majority of the shares entitled to
      vote
      at an election of directors; provided, unless the entire Board is removed
      simultaneously, a director shall not be removed from the Board if there are
      votes cast against removal of the director in proportion of the voting power
      sufficient to elect the director at an election of the entire Board under
      cumulative voting. At such meeting, without further notice, the shareholders
      may
      fill any vacancy or vacancies created by such removal as provided in Section
      6
      of this Article. Any such vacancy not so filled may be filled by the directors
      as provided in Section 6 of this Article. Any director named by the Board of
      Directors to fill a vacancy may be removed at any time, with or without cause,
      by an affirmative vote of a majority of the remaining directors serving at
      the
      time of such removal, even though said remaining directors be less than a
      quorum, if the shareholders have not elected directors in the interval between
      the appointment to fill the vacancy and the time of removal.

    

    
      
        
        

      

      
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    Section
      8. Committees. The Board of Directors, by a resolution approved by the
      affirmative vote of a majority of the directors then holding office, may
      establish one or more committees of one or more persons having the authority
      of
      the Board of Directors in the management of the business of the corporation
      to
      the extent provided in such resolution. Such committees, however, shall at
      all
      times be subject to the direction and control of the Board of
      Directors.

    

    Committee
      members need not be directors and shall be appointed by the affirmative vote
      of
      a majority of the directors and shall be appointed by the affirmative vote
      of a
      majority of the directors present. A majority of the members of any committee
      shall constitute a quorum for the transaction of business at a meeting of any
      such committee. In other matters of procedure the provisions of these By-Laws
      shall apply to committees and the members thereof to the same extent they apply
      to the Board of Directors and directors, including, without limitation, the
      provisions with respect to meetings and notice thereof, absent members, written
      actions, and valid acts. Each committee shall keep regular minutes of its
      proceedings and report the same to the Board of Directors.

    

    Section
      9. Action in Writing. Any action required or permitted to be taken at a meeting
      of the Board of Directors or of a lawfully constituted committee thereof may
      be
      taken by written action signed by all of the directors then in office or by
      all
      of the members of such committee, as the case may be. If the action does not
      require shareholder approval, such action shall be effective if signed by the
      number of directors or members of such committee that would be required to
      take
      the same action at a meeting at which all directors or committee members were
      present. If any written action is taken by less than all directors, all
      directors shall be notified immediately of its text and effective date. The
      failure to provide such notice, however, shall not invalidate such written
      action.

    

    Section
      10. Meeting by Means of Electronic Communication. Members of the Board of
      Directors of the corporation, or any committee designated by such Board, may
      participate in a meeting of such Board or committee by means of conference
      telephone or similar means of communication by which all persons participating
      in the meeting can simultaneously hear each other, and participation in a
      meeting pursuant to this section shall constitute presence in person at such
      meeting.

    

    
      
        
        

      

      
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    ARTICLE
      IV

    
      
 

    Officers

    
      
 

    Section
      1. Number and Qualification. The officers of the corporation shall be elected
      by
      the Board of Directors and shall include a President, a Secretary, and a
      Treasurer. The Board of Directors may also appoint one or more Vice-Presidents
      or such other officers and assistant officers as it may deem necessary. Except
      as provided in these By-Laws, the Board of Directors shall fix the powers,
      duties, and compensation of all officers. Officers may, but need not, be
      directors of the corporation. Any number of offices may be held by the same
      person.

    

    Section
      2. Term of Office. An officer shall hold office until his successor shall have
      been duly elected, unless prior thereto he shall have resigned or been removed
      from office as hereinafter provided.

    

    Section
      3. Removal and Vacancies. Any officer or agent elected or appointed by the
      Board
      of Directors shall hold office at the pleasure of the Board of Directors and
      may
      be removed, with or without cause, at any time by the vote of a majority of
      the
      Board of Directors. Any vacancy in an office of the corporation shall be filled
      by the Board of Directors.

    

    Section
      4. President. The President shall be the chief executive officer of the
      corporation, shall preside at all meetings of the shareholders and the Board
      of
      Directors when present, shall have general and active management of the business
      of the corporation, and shall see that all orders and resolutions of the Board
      of Directors are carried into effect. He shall have the general powers and
      duties usually vested in the office of the President and shall have such other
      powers and perform such other duties as the Board of Directors may from time
      to
      time prescribe.

    

    Section
      5. Vice Presidents. The Vice President, if any, or Vice Presidents in case
      there
      be more than one, shall have such powers and perform such duties as the
      President or the Board of Directors may from time to time prescribe. In the
      absence of the President or in the event of his death, inability, or refusal
      to
      act, the Vice President, or in the event there be more than one Vice President,
      the Vice Presidents in the order designated by the Board of Directors, or,
      in
      the absence of any designation, in the order of their election, shall perform
      the duties of the President, and, when so acting, shall have all the powers
      of
      and be subject to all of the restrictions upon the President.

    

    Section
      6. Secretary. The Secretary shall attend all meetings of the Board of Directors
      and of the shareholders and shall maintain records of, and whenever necessary,
      certify all proceedings of the Board of Directors and of the shareholders.
      He
      shall keep the stock books of the corporation, and, when so directed by the
      Board of Directors or other person or persons authorized to call such meetings,
      shall give or cause to be given notice of meetings of the shareholders and
      of
      meetings of the Board of Directors. He shall also perform such other duties
      and
      have such other powers as the President or the Board of Directors may from
      time
      to time prescribe.

    

    
      
        
        

      

      
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    Section
      7. Treasurer. The Treasurer shall be the chief financial officer of the
      corporation. He shall have the care and custody of the corporate funds and
      securities of the corporation and shall disburse the funds of the corporation
      as
      may be ordered from time to time by the President or the Board of Directors.
      He
      shall keep full and accurate financial records for the corporation and shall
      have such other powers and perform such other duties as the President or the
      Board of Directors may from time to time prescribe.

    

    Section
      8. Other Officers. The Assistant Secretaries and Assistant Treasurers in the
      order of their seniority, unless otherwise determined by the Board of Directors,
      shall, in the absence or disability of the Secretary or Treasurer, perform
      the
      duties and exercise the powers of the Secretary and Treasurer respectively.
      Such
      Assistant Secretaries and Assistant Treasurers shall have such other powers
      and
      perform such other duties as the President or the Board of Directors may from
      time to time prescribe. Any other officers appointed by the Board of Directors
      shall hold office at the pleasure of the Board of Directors and shall have
      such
      powers, perform such duties, and be responsible to such other officers as the
      Board of Directors may from time to time prescribe.

    

    ARTICLE
      V

    
      

    

     

    Certificates
      and Ownership of Shares

    
      
 

    Section
      1. Certificates. All shares of the corporation shall be represented by
      certificates. Each certificate shall contain on its face (a) the name of the
      corporation, (b) a statement that the corporation is incorporated under the
      laws
      of the State of Minnesota, (c) the name of the person to whom it is issued,
      and
      (d) the number and class of shares, and the designation of the series, if any,
      that the certificate represents. Certificates shall also contain any other
      information required by law or desired by the Board of Directors, and shall
      be
      in such form as shall be determined by the Board of Director. Such certificates
      shall be signed by the President, a Vice President, the Secretary, or an
      Assistant Secretary. If a certificate is signed (1) by a transfer agent or
      an
      assistant transfer agent or (2) by a transfer clerk acting on behalf of the
      corporation and a registrar, the signature of any such President, Vice
      President, Secretary, or Assistant Secretary may be a facsimile. If a person
      signs or has a facsimile signature placed upon a certificate while an officer,
      transfer agent, or registrar of a corporation, the certificate may be issued
      by
      the corporation, even if the person has ceased to have that capacity before
      the
      certificate is issued, with the same effect as if the person had that capacity
      at the date of its issue. All certificates for shares shall be consecutively
      numbered or otherwise identified. The name and address of the person to whom
      the
      shares represented thereby are issued with the number of shares and date of
      issue shall be entered on the stock transfer books of the corporation. All
      certificates surrendered to the corporation or the transfer agent for transfer
      shall be cancelled and no new certificate shall be issued until the former
      certificate for a like number of share shall have been surrendered and
      cancelled, except that in case of a lost, destroyed, or mutilated certificate,
      a
      new one may be issued therefore upon such terms and indemnity to the corporation
      as the Board of Directors may prescribe.

    

    
      
        
        

      

      
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    Section
      2. Transfer of Shares. Transfer of shares of the corporation shall be amended
      only on the stock transfer books of the corporation by the holder of record
      thereof or by his legal representative who shall furnish proper evidence of
      authority to transfer, or by his attorney thereunto authorized by power of
      attorney duly executed and filed with the Secretary of the corporation, and
      on
      surrender of such shares to the corporation or the transfer agent of the
      corporation.

    

    Section
      3. Ownership. Except as otherwise provided in this Section, the person in whose
      name shares stand on the books of the corporation shall be deemed by the
      corporation to be the owner thereof for all purposes. The Board of Directors,
      however, by a resolution approved by the affirmative vote of a majority of
      directors then in office, may establish a procedure whereby a shareholder may
      certify in writing to the corporation that all or a portion of the shares
      registered in the name of the shareholder are held for the account of one or
      more beneficial owners. Upon receipt by the corporation of the writing, the
      persons specified as beneficial owners, rather than the actual shareholder,
      shall be deemed the shareholders for such purposes as are permitted by the
      resolution of the Board of Directors and are specified in the
      writing.

    

    ARTICLE
      VI

    
      
 

    Contracts,
      Loans, Checks, and Deposits

    
      
 

    Section
      1. Contracts. The Board of Directors may authorize such officers or agent as
      they shall designate to enter into contracts or execute and deliver instruments
      in the name of and on behalf of the corporation, and such authority may be
      general or confined to specific instances.

    

    Section
      2. Loans. The corporation shall not lend money to, guarantee the obligation
      of,
      become a surety for, or otherwise financially assist any person unless the
      transaction, or class of transactions to which the transaction belongs, has
      been
      approved by the affirmative vote of a majority of directors present, and (a)
      is
      in the usual and regular course of business of the corporation, (b) is with,
      or
      for the benefit of, a related corporation, an organization in which the
      corporation has a financial interest, an organization with which the corporation
      has a business relationship, or an organization to which the corporation has
      the
      power to make donations, (c) is with, or for the benefit of, an officer or
      other
      employee of the corporation or a subsidiary, including an officer or employee
      who is a director of the corporation or a subsidiary, and may reasonably be
      expected, in the judgment of the Board of Directors, to benefit the corporation,
      or (d) has been approved by the affirmative vote of the holders of two-thirds
      of
      the outstanding shares, including both voting and nonvoting shares.

    

    
      
        
        

      

      
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    Section
      3. Checks, Drafts, etc. All checks, drafts or other orders for the payment
      of
      money, notes, or other evidences of indebtedness issued in the name of the
      corporation shall be signed by such officers or agents of the corporations
      shall
      be designated and in such manner as shall be determined from time to time by
      resolution of the Board of Directors.

    

    Section
      4. Deposits. All funds of the corporation not otherwise employed shall be
      deposited from time to time to the credit of the corporation in such banks
      or
      other financial institutions as the Board of Directors may select.

    

    ARTICLE
      VII

    
      

    

     

    Miscellaneous

    
      
 

    Section
      1. Dividends. The Board of Directors may from time to time declare, and the
      corporation may pay, dividends on its outstanding shares in the manner and
      upon
      the terms and conditions provided by law.

    

    Section
      2. Indemnification. The corporation shall indemnify a person made or threatened
      to be made a party to a proceeding by reason of the former or present official
      capacity (as defined in Section 302A.521 of the Minnesota Business Corporation
      Act) of the person to the full extent permitted by the laws of the State of
      Minnesota, except that it shall not indemnify an agent of the corporation unless
      authorized by a majority of the Board of Directors.

    

    Section
      3. Reserves. There may be set aside out of any funds of the corporation
      available for dividends such sum or sums as the directors from time to time,
      in
      their absolute discretion, deem proper as a reserve or reserves to meet
      contingencies, or for equalizing dividends, or for repairing or maintaining
      any
      property of the corporation, or for the purchase of additional property, or
      for
      such other purpose as the directors shall deem to be consistent with the
      interests of the corporation, and the directors may modify or abolish any such
      reserve.

    

    Section
      4. Fiscal Year. The fiscal year of the corporation shall be such twelve-month
      period as may be set by a resolution of the Board of Directors, provided,
      however, that the first fiscal year of the corporation may be a shorter period
      if permitted by law and set by a resolution of the Board of
      Directors.

    

    Section
      5. Amendments. Except as limited by the Articles of Incorporation, these By-Laws
      may be altered or amended by the Board of Directors at any meeting of directors
      to the full extent permitted by law, subject, however, to the power of the
      shareholders of this corporation to alter or repeal such By-Laws.

     

     

    
      
        
        

      

      
        10EXHIBIT
      10.1 FOURTH AMENDED 2004 NON-QUALIFIED STOCK COMPENSATION PLAN

     
      

    

    FOURTH
      AMENDED 2004 NON-QUALIFIED STOCK COMPENSATION PLAN 

    

    1.
       
      Purpose
      of Plan 

    

    1.1
       
      This
      FOURTH AMENDED 2004 NON-QUALIFIED STOCK
      COMPENSATION PLAN (the “Plan”) of HouseRaising, Inc., a North Carolina
      corporation (the “Company”), for employees, directors, officers consultants,
      advisors and other persons associated with the Company, is intended to advance
      the best interests of the Company by providing those persons who have a
      substantial responsibility for its management and growth with additional
      incentive and by increasing their proprietary interest in the success of the
      Company, thereby encouraging them to maintain their relationships with the
      Company. Further, the availability and offering of stock options and common
      stock under the Plan supports and increases the Company's ability to attract
      and
      retain individuals of exceptional talent upon whom, in large measure, the
      sustained progress, growth and profitability of the Company depends.

    

    2.
       
      Definitions
      

    

    2.1
       
      For
      Plan
      purposes, except where the context might clearly indicate otherwise, the
      following terms shall have the meanings set forth below: 

    

    “Board”
      shall mean the Board of Directors of the Company. 

    

    “Committee”
      shall mean the Compensation Committee, or such other committee appointed by
      the
      Board, which shall be designated by the Board to administer the Plan, or the
      Board if no committees have been established. The Committee shall be composed
      of
two
      or
      more persons as
      from
      time to time are appointed to serve by the Board. Each member of the Committee,
      while serving as such, shall be a disinterested person with the meaning of
      Rule
      16b-3 promulgated under the Securities Exchange Act of 1934. 

    

    “Common
      Shares” shall mean the Company's Common Shares, $.001 par value per share, or,
      in the event that the outstanding Common Shares are hereafter changed into
      or
      exchanged for different shares of securities of the Company, such other shares
      or securities. 

    

    “Company”
      shall mean HouseRaising, Inc., a North Carolina corporation and any parent
      or
      subsidiary corporation of HouseRaising, Inc. as such terms are defined in
      Sections 425(e) and 425(f), respectively, of the Code. 

    

    “Fair
      Market Value” shall mean, with respect to the date a given stock option is
      granted or exercised, the average of the highest and lowest reported sales
      prices of the Common Shares, as reported by such responsible reporting service
      as the Committee may select, or if there were not transactions in the Common
      Shares on such day, then the last preceding day on which transactions took
      place. The above withstanding, the Committee may determine the Fair Market
      Value
      in such other manner as it may deem more equitable for Plan purposes or as
      is
      required by applicable laws or regulations. 

    

    “Optionee”
      shall mean an employee of the company who has been granted one or more Stock
      Options under the Plan. 

    

    “Common
      Stock” shall mean shares of common stock which are issued by the Company
      pursuant to Section 5, below. 

    

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

    “Common
      Stockholder”  
      means
      the
      employee of, consultant to, or director of the Company or other person to whom
      shares of Common Stock are issued pursuant to this Plan. 

    

    “Common
      Stock Agreement” means an agreement executed by a Common Stockholder and the
      Company as contemplated by Section 5, below, which imposes on the shares of
      Common Stock held by the Common Stockholder such restrictions as the Board
      or
      Committee deem appropriate. 

    

    “Stock
      Option” or “Non-Qualified Stock Option” or “NQSO” shall mean a stock option
      granted pursuant to the terms of the Plan. 

    

    “Stock
      Option Agreement” shall mean the agreement between the Company and the Optionee
      under which the Optionee may purchase Common Shares hereunder. 

    

    3.
       
      Administration
      of the Plan 

    

    3.1
       
      The
      Committee shall administer the Plan and accordingly, it shall have full power
      to
      grant Stock Options and Common Stock, construe and interpret the Plan, establish
      rules and regulations and perform all other acts, including the delegation
      of
      administrative responsibilities, it believes reasonable and proper.

    

    3.2
       
      The
      determination of those eligible to receive Stock Options and Common Stock,
      and
      the amount, type and timing of each grant and the terms and conditions of the
      respective stock option agreements and Common Stock Agreements shall rest in
      the
      sole discretion of the Committee, subject to the provisions of the Plan.

    

    3.3
       
      The
      Committee may cancel any Stock Options awarded under the Plan if an Optionee
      conducts himself in a manner which the Committee determines to be inimical
      to
      the best interest of the Company, as set forth more fully in paragraph 8 of
      Article 11 of the Plan. 

    

    3.4
       
      The
      Board, or the Committee, may correct any defect, supply any omission or
      reconcile any inconsistency in the Plan, or in any granted Stock Option, in
      the
      manner and to the extent it shall deem necessary to carry it into effect.

    

    3.5
       
      Any
      decision made, or action taken, by the Committee or the Board arising out of
      or
      in connection with the interpretation and administration of the Plan shall
      be
      final and conclusive. 

     
      

    3.6
       
      Meetings
      of the Committee shall be held at such times and places as shall be determined
      by the Committee. A majority of the members of the Committee shall constitute
      a
      quorum for the transaction of business, and the vote of a majority of those
      members present at any meeting shall decide any question brought before that
      meeting. In addition, the Committee may take any action otherwise proper under
      the Plan by the affirmative vote, taken without a meeting, of a majority of
      its
      members. 

    

    3.7
       
      No
      member
      of the Committee shall be liable for any act or omission of any other member
      of
      the Committee or for any act or omission on his own part, including, but not
      limited to, the exercise of any power or discretion given to him under the
      Plan,
      except those resulting from his own gross negligence or willful misconduct.
      

    

    3.8
       
      The
      Company, through its management, shall supply full and timely information to
      the
      Committee on all matters relating to the eligibility of Optionees, their duties
      and performance, and current information on any Optionee's death, retirement,
      disability or other termination of association with the Company, and such other
      pertinent information as the Committee may require. The Company shall furnish
      the Committee with such clerical and other assistance as is necessary in the
      performance of its duties hereunder. 

    

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

    4.
       
      Shares
      Subject to the Plan 

    

    4.1
       
      The
      total
      number of shares of the Company available for grants of Stock Options and Common
      Stock under the Plan shall be increased from 8,000,000 Common Shares to
      10,000,000 Common Shares, subject to adjustment in accordance with Article
      7 of
      the Plan, which shares may be either authorized but unissued or reacquired
      Common Shares of the Company. 

    

    4.2
       
      If
      a
      Stock Option or portion thereof shall expire or terminate for any reason without
      having been exercised in full, the unpurchased shares covered by such NQSO
      shall
      be available for future grants of Stock Options. 

    

    5.
       
      Award
      of Common Stock 

    

    5.1
       
      The
      Board
      or Committee from time to time, in its absolute discretion, may (a) award Common
      Stock to employees of, consultants to, and directors of the Company, and such
      other persons as the Board or Committee may select, and (b) permit Holders
      of
      Options to exercise such Options prior to full vesting therein and hold the
      Common Shares issued upon exercise of the Option as Common Stock. In either
      such
      event, the owner of such Common Stock shall hold such stock subject to such
      vesting schedule as the Board or Committee may impose or such vesting schedule
      to which the Option was subject, as determined in the discretion of the Board
      or
      Committee. 

    

    5.2
       
      Common
      Stock shall be issued only pursuant to a Common Stock Agreement, which shall
      be
      executed by the Common Stockholder and the Company and which shall contain
      such
      terms and conditions as the Board or Committee shall determine consistent with
      this Plan, including such restrictions on transfer as are imposed by the Common
      Stock Agreement. 

     
      

    5.3
       
      Upon
      delivery of the shares of Common Stock to the Common Stockholder, below, the
      Common Stockholder shall have, unless otherwise provided by the Board or
      Committee, all the rights of a stockholder with respect to said shares, subject
      to the restrictions in the Common Stock Agreement, including the right to
      receive all dividends and other distributions paid or made with respect to
      the
      Common Stock. 

    

    5.4.
       
      Notwithstanding
      anything in this Plan or any Common Stock Agreement to the contrary, no Common
      Stockholders may sell or otherwise transfer, whether or not for value, any
      of
      the Common Stock prior to the date on which the Common Stockholder is vested
      therein. 

    

    5.5
       
      All
      shares of Common Stock issued under this Plan (including any shares of Common
      Stock and other securities issued with respect to the shares of Common Stock
      as
      a result of stock dividends, stock splits or similar changes in the capital
      structure of the Company) shall be subject to such restrictions as the Board
      or
      Committee shall provide, which restrictions may include, without limitation,
      restrictions concerning voting rights, transferability of the Common Stock
      and
      restrictions based on duration of employment with the Company, Company
      performance and individual performance; provided that the Board or Committee
      may, on such terms and conditions as it may determine to be appropriate, remove
      any or all of such restrictions. Common Stock may not be sold or encumbered
      until all applicable restrictions have terminated or expire. The restrictions,
      if any, imposed by the Board or Committee or the Board under this Section 5
      need
      not be identical for all Common Stock and the imposition of any restrictions
      with respect to any Common Stock shall not require the imposition of the same
      or
      any other restrictions with respect to any other Common Stock. 

    

    
      
        
        

      

      
        8

        
          

        

      

      
        
        

      

    

    5.6
       
      Each
      Common Stock Agreement shall provide that the Company shall have the right
      to
      repurchase from the Common Stockholder the unvested Common Stock upon a
      termination of employment, termination of directorship or termination of a
      consultancy arrangement, as applicable, at a cash price per share equal to
      the
      purchase price paid by the Common Stockholder for such Common Stock.

    

    5.7
       
      In
      the
      discretion of the Board or Committee, the Common Stock Agreement may provide
      that the Company shall have the a right of first refusal with respect to the
      Common Stock and a right to repurchase the vested Common Stock upon a
      termination of the Common Stockholder's employment with the Company, the
      termination of the Common Stockholder's consulting arrangement with the Company,
      the termination of the Common Stockholder's service on the Company's Board,
      or
      such other events as the Board or Committee may deem appropriate. 

    

    5.8
       
      The
      Board
      or Committee shall cause a legend or legends to be placed on certificates
      representing shares of Common Stock that are subject to restrictions under
      Common Stock Agreements, which legend or legends shall make appropriate
      reference to the applicable restrictions. 

    

    6.
       
      Stock
      Option Terms and Conditions 

    

    6.1
       
      Consistent
      with the Plan's purpose, Stock Options may be granted to non-employee directors
      of the Company or other persons who are performing or who have been engaged
      to
      perform services of special importance to the management, operation or
      development of the Company. 

     
      

    6.2
       
      All
      Stock
      Options granted under the Plan shall be evidenced by agreements, which shall
      be
      subject to applicable provisions of the Plan, and such other provisions as
      the
      Committee may adopt, including the provisions set forth in paragraphs 2 through
      11 of this Section 6. 

    

    6.3
       
      All
      Stock
      Options granted hereunder must be granted within ten years from the earlier
      of
      the date of this Plan is adopted or approved by the Company's shareholders.
      

    

    6.4
       
      No
      Stock
      Option granted to any employee or 10% Shareholder shall be exercisable after
      the
      expiration of ten years from the date such NQSO is granted. The Committee,
      in
      its discretion, may provide that an Option shall be exercisable during such
      ten-year period or during any lesser period of time. 

    

    The
      Committee may establish installment exercise terms for a Stock Option such
      that
      the NQSO becomes fully exercisable in a series of cumulating portions. If an
      Optionee shall not, in any given installment period, purchase all the Common
      Shares which such Optionee is entitled to purchase within such installment
      period, such Optionee's right to purchase any Common Shares not purchased in
      such installment period shall continue until the expiration or sooner
      termination of such NQSO. The Committee may also accelerate the exercise of
      any
      NQSO. However, no NQSO, or any portion thereof, may be exercisable until thirty
      (30) days following date of grant (“30-Day Holding Period.”). 

    

    6.5
       
      A
      Stock
      Option, or portion thereof, shall be exercised by delivery of (i) a written
      notice of exercise of the Company specifying the number of common shares to
      be
      purchased, and (ii) payment of the full price of such Common Shares, as fully
      set forth in paragraph 6 of this Section 6. 

    

    No
      NQSO
      or installment thereof shall be exercisable except with respect to whole shares,
      and fractional share interests shall be disregarded. Not less than 100 Common
      Shares may be purchased at one time unless the number purchased is the total
      number at the time available for purchase under the NQSO. Until the Common
      Shares represented by an exercised NQSO are issued to an Optionee, he shall
      have
      none of the rights of a shareholder. 

    

    6.6
       
      The
      exercise price of a Stock Option, or portion thereof, may be paid: 

    

    
      
        
        

      

      
        9

        
          

        

      

      
        
        

      

    

    A.
       
      In
      United
      States dollars, in cash or by cashier's check, certified check, bank draft
      or
      money order, payable to the order of the Company in an amount equal to the
      option price; or 

    

    B.
       
      At
      the
      discretion of the Committee, through the delivery of fully paid and
      nonassessable Common Shares, with an aggregate Fair Market Value on the date
      the
      NQSO is exercised equal to the option price, provided such tendered Shares
      have
      been owned by the Optionee for at least one year prior to such exercise; or
      

     
      

    C.
       
      By
      a
      combination of both A and B above. 

    

    The
      Committee shall determine acceptable methods for tendering Common Shares as
      payment upon exercise of a Stock Option and may impose such limitations and
      prohibitions on the use of Common Shares to exercise an NQSO as it deems
      appropriate. 

    

    6.7
       
      With
      the
      Optionee's consent, the Committee may cancel any Stock Option issued under
      this
      Plan and issue a new NQSO to such Optionee. 

    

    6.8
       
      Except
      by
      will or the laws of descent and distribution, no right or interest in any Stock
      Option granted under the Plan shall be assignable or transferable, and no right
      or interest of any Optionee shall be liable for, or subject to, any lien,
      obligation or liability of the Optionee. Stock Options shall be exercisable
      during the Optionee's lifetime only by the Optionee or the duly appointed legal
      representative of an incompetent Optionee. 

    

    6.9
       
      If
      the
      Optionee shall die while associated with the Company or within three months
      after termination of such association, the personal representative or
      administrator of the Optionee's estate or the person(s) to whom an NQSO granted
      hereunder shall have been validly transferred by such personal representative
      or
      administrator pursuant to the Optionee's will or the laws of descent and
      distribution, shall have the right to exercise the NQSO for one year after
      the
      date of the Optionee's death, to the extent (i) such NQSO was exercisable on
      the
      date of such termination of employment by death, and (ii) such NQSO was not
      exercised, and (iii) the exercise period may not be extended beyond the
      expiration of the term of the Option. 

    

    No
      transfer of a Stock Option by the will of an Optionee or by the laws of descent
      and distribution shall be effective to bind the Company unless the Company
      shall
      have been furnished with written notice thereof and an authenticated copy of
      the
      will and/or such other evidence as the Committee may deem necessary to establish
      the validity of the transfer and the acceptance by the transferee or transferee
      of the terms and conditions by such Stock Option. 

    

    In
      the
      event of death following termination of the Optionee's association with the
      Company while any portion of an NQSO remains exercisable, the Committee, in
      its
      discretion, may provide for an extension of the exercise period of up to one
      year after the Optionee's death but not beyond the expiration of the term of
      the
      Stock Option. 

    

    6.10
       
      Any
      Optionee who disposes of Common Shares acquired on the exercise of a NQSO by
      sale or exchange either (i) within two years after the date of the grant of
      the
      NQSO under which the stock was acquired, or (ii) within one year after the
      acquisition of such Shares, shall notify the Company of such disposition and
      of
      the amount realized upon such disposition. The transfer of Common Shares may
      also be Common by applicable provisions of the Securities Act of 1933, as
      amended. 

    

    
      
        
        

      

      
        10

        
          

        

      

      
        
        

      

    

    7.
       
      Adjustments
      or Changes in Capitalization 

    

    7.1
       
      In
      the
      event that the outstanding Common Shares of the Company are hereafter changed
      into or exchanged for a different number or kind of shares or other securities
      of the Company by reason of merger, consolidation, other reorganization,
      recapitalization, reclassification, combination of shares, stock split-up or
      stock dividend: 

     
      

    A.
       
      Prompt,
      proportionate, equitable, lawful and adequate adjustment shall be made of the
      aggregate number and kind of shares subject to Stock Options which may be
      granted under the Plan, such that the Optionee shall have the right to purchase
      such Common Shares as may be issued in exchange for the Common Shares
      purchasable on exercise of the NQSO had such merger, consolidation, other
      reorganization, recapitalization, reclassification, combination of shares,
      stock
      split-up or stock dividend not taken place; 

    

    B.
       
      Rights
      under unexercised Stock Options or portions thereof granted prior to any such
      change, both as to the number or kind of shares and the exercise price per
      share, shall be adjusted appropriately, provided that such adjustments shall
      be
      made without change in the total exercise price applicable to the unexercised
      portion of such NQSO's but by an adjustment in the price for each share covered
      by such NQSO's; or 

    

    C.
       
      Upon
      any
      dissolution or liquidation of the Company or any merger or combination in which
      the Company is not a surviving corporation, each outstanding Stock Option
      granted hereunder shall terminate, but the Optionee shall have the right,
      immediately prior to such dissolution, liquidation, merger or combination,
      to
      exercise his NQSO in whole or in part, to the extent that it shall not have
      been
      exercised, without regard to any installment exercise provisions in such NQSO.
      

    

    7.2
       
      The
      foregoing adjustments and the manner of application of the foregoing provisions
      shall be determined solely by the Committee, whose determination as to what
      adjustments shall be made and the extent thereof, shall be final, binding and
      conclusive. No fractional Shares shall be issued under the Plan on account
      of
      any such adjustments. 

    

    8.
       
      Merger,
      Consolidation or Tender Offer 

    

    8.1
       
      If
      the
      Company shall be a party to a binding agreement to any merger, consolidation
      or
      reorganization or sale of substantially all the assets of the Company, each
      outstanding Stock Option shall pertain and apply to the securities and/or
      property which a shareholder of the number of Common Shares of the Company
      subject to the NQSO would be entitled to receive pursuant to such merger,
      consolidation or reorganization or sale of assets. 

    

    8.2
       
      In
      the
      event that: 

    

    A.
       
      Any
      person other than the Company shall acquire more than 20% of the Common Shares
      of the Company through a tender offer, exchange offer or otherwise;

    

    B.
       
      A
      change
      in the “control” of the Company occurs, as such term is defined in Rule 405
      under the Securities Act of 1933; 

    

    C.
       
      There
      shall be a sale of all or substantially all of the assets of the Company;

    any
      then
      outstanding Stock Option held by an Optionee, who is deemed by the Committee
      to
      be a statutory officer (“Insider”) for purposes of Section 16 of the Securities
      Exchange Act of 1934 shall be entitled to receive, subject to any action by
      the
      Committee revoking such an entitlement as provided for below, in lieu of
      exercise of such Stock Option, to the extent that it is then exercisable, a
      cash
      payment in an amount equal to the difference between the aggregate exercise
      price of such NQSO, or portion thereof, and, (i) in the event of an offer or
      similar event, the final offer price per share paid for Common Shares, or such
      lower price as the Committee may determine to conform an option to preserve
      its
      Stock Option status, times the number of Common Shares covered by the NQSO
      or
      portion thereof, or (ii) in the case of an event covered by B or C above, the
      aggregate Fair Market Value of the Common Shares covered by the Stock Option,
      as
      determined by the Committee at such time. 

    

    
      
        
        

      

      
        11

        
          

        

      

      
        
        

      

    

    8.3
       
      Any
      payment which the Company is required to make pursuant to paragraph 8.2 of
      this
      Section 8 shall be made within 15 business days, following the event which
      results in the Optionee's right to such payment. In the event of a tender offer
      in which fewer than all the shares which are validly tendered in compliance
      with
      such offer are purchased or exchanged, then only that portion of the shares
      covered by an NQSO as results from multiplying such shares by a fraction, the
      numerator of which is the number of Common Shares acquired pursuant to the
      offer
      and the denominator of which is the number of Common Shares tendered in
      compliance with such offer shall be used to determine the payment thereupon.
      To
      the extent that all or any portion of a Stock Option shall be affected by this
      provision, all or such portion of the NQSO shall be terminated. 

    

    8.4
       
      Notwithstanding
      paragraphs 8.1 and 8.3 of this Section 8, the Committee may, by unanimous vote
      and resolution, unilaterally revoke the benefits of the above provisions;
      provided, however, that such vote is taken no later than ten business days
      following public announcement of the intent of an offer or the change of
      control, whichever occurs earlier. 

    

    9.
       
      Amendment
      and Termination of Plan 

    

    9.1
       
      The
      Board
      may at any time, and from time to time, suspend or terminate the Plan in whole
      or in part or amend it from time to time in such respects as the Board may
      deem
      appropriate and in the best interest of the Company. 

    

    9.2
       
      No
      amendment, suspension or termination of this Plan shall, without the Optionee's
      consent, alter or impair any of the rights or obligations under any Stock Option
      theretofore granted to him under the Plan. 

    

    9.3
       
      The
      Board
      may amend the Plan, subject to the limitations cited above, in such manner
      as it
      deems necessary to permit the granting of Stock Options meeting the requirements
      of future amendments or issued regulations, if any, to the Code. The original
      2004 Non-Qualified Stock Compensation Plan filed with the Commission on
      September 28, 2004, as amended with the Commission on April 6, 2005, amended
      on
      July 28, 2005 and amended on November 23, 2005, is hereby amended and restated
      by this Fourth Amended 2004 Non-Qualified Stock Compensation Plan. 

    

    9.4
       
      No
      NQSO
      may be granted during any suspension of the Plan or after termination of the
      Plan. 

    

    10.
       
      Government
      and Other Regulations 

    

    10.1
       
      The
      obligation of the Company to issue, transfer and deliver Common Shares for
      Stock
      Options exercised under the Plan shall be subject to all applicable laws,
      regulations, rules, orders and approval which shall then be in effect and
      required by the relevant stock exchanges on which the Common Shares are traded
      and by government entities as set forth below or as the Committee in its sole
      discretion shall deem necessary or advisable. Specifically, in connection with
      the Securities Act of 1933, as amended, upon exercise of any Stock Option,
      the
      Company shall not be required to issue Common Shares unless the Committee has
      received evidence satisfactory to it to the effect that the Optionee will not
      transfer such shares except pursuant to a registration statement in effect
      under
      such Act or unless an opinion of counsel satisfactory to the Company has been
      received by the Company to the effect that such registration is not required.
      Any determination in this connection by the Committee shall be final, binding
      and conclusive. The Company may, but shall in no event be obligated to, take
      any
      other affirmative action in order to cause the exercise of a Stock Option or
      the
      issuance of Common Shares pursuant thereto to comply with any law or regulation
      of any government authority. 

    

    
      
        
        

      

      
        12

        
          

        

      

      
        
        

      

    

    11.
       
      Miscellaneous
      Provisions 

    

    11.1
       
      No
      person
      shall have any claim or right to be granted a Stock Option or Common Stock
      under
      the Plan, and the grant of an NQSO or Common Stock under the Plan shall not
      be
      construed as giving an Optionee or Common Stockholder the right to be retained
      by the Company. Furthermore, the Company expressly reserves the right at any
      time to terminate its relationship with an Optionee with or without cause,
      free
      from any liability, or any claim under the Plan, except as provided herein,
      in
      an option agreement, or in any agreement between the Company and the Optionee.
      

    

    11.2
       
      Any
      expenses of administering this Plan shall be borne by the Company. 

    

    11.3
       
      The
      payment received from Optionee from the exercise of Stock Options under the
      Plan
      shall be used for the general corporate purposes of the Company. 

    

    11.4
       
      The
      place
      of administration of the Plan shall be in the State of North Carolina, and
      the
      validity, construction, interpretation, administration and effect of the Plan
      and of its rules and regulations, and rights relating to the Plan, shall be
      determined solely in accordance with the laws of the State of North Carolina.
      

    

    11.5
       
      Without
      amending the Plan, grants may be made to persons who are foreign nationals
      or
      employed outside the United States, or both, on such terms and conditions,
      consistent with the Plan's purpose, different from those specified in the Plan
      as may, in the judgment of the Committee, be necessary or desirable to create
      equitable opportunities given differences in tax laws in other countries.

     
      

    11.6
       
      In
      addition to such other rights of indemnification as they may have as members
      of
      the Board or the Committee, the members of the Committee shall be indemnified
      by
      the Company against all costs and expenses reasonably incurred by them in
      connection with any action, suit or proceeding to which they or any of them
      may
      be party by reason of any action taken or failure to act under or in connection
      with the Plan or any Stock Option granted thereunder, and against all amounts
      paid by them in settlement thereof (provided such settlement is approved by
      independent legal counsel selected by the Company) or paid by them in
      satisfaction of a judgment in any such action, suit or proceeding, except a
      judgment based upon a finding of bad faith; provided that upon the institution
      of any such action, suit or proceeding a Committee member shall, in writing,
      give the Company notice thereof and an opportunity, at its own expense, to
      handle and defend the same, with counsel acceptable to the Optionee, before
      such
      Committee member undertakes to handle and defend it on his own behalf.

    

    11.7
       
      Stock
      Options may be granted under this Plan from time to time, in substitution for
      stock options held by employees of other corporations who are about to become
      employees of the Company as the result of a merger or consolidation of the
      employing corporation with the Company or the acquisition by the Company of
      the
      assets of the employing corporation or the acquisition by the Company of stock
      of the employing corporation as a result of which it becomes a subsidiary of
      the
      Company. The terms and conditions of such substitute stock options so granted
      may vary from the terms and conditions set forth in this Plan to such extent
      as
      the Board of Directors of the Company at the time of grant may deem appropriate
      to conform, in whole or in part, to the provisions of the stock options in
      substitution for which they are granted, but no such variations shall be such
      as
      to affect the status of any such substitute stock options as a stock option
      under Section 422A of the Code. 

    
      
        
        

      

      
        13

        
          

        

      

      
        
        

      

    

    

    11.8
       
      Notwithstanding
      anything to the contrary in the Plan, if the Committee finds by a majority
      vote,
      after full consideration of the facts presented on behalf of both the Company
      and the Optionee, that the Optionee has been engaged in fraud, embezzlement,
      theft, insider trading in the Company's stock, commission of a felony or proven
      dishonesty in the course of his association with the Company or any subsidiary
      corporation which damaged the Company or any subsidiary corporation, or for
      disclosing trade secrets of the Company or any subsidiary corporation, the
      Optionee shall forfeit all unexercised Stock Options and all exercised NQSO's
      under which the Company has not yet delivered the certificates and which have
      been earlier granted to the Optionee by the Committee. The decision of the
      Committee as to the cause of an Optionee's discharge and the damage done to
      the
      Company shall be final. No decision of the Committee, however, shall affect
      the
      finality of the discharge of such Optionee by the Company or any subsidiary
      corporation in any manner. 

    

    12.
       
      Written
      Agreement 

    

    12.1
       
      Each
      Stock Option granted hereunder shall be embodied in a written Stock Option
      Agreement which shall be subject to the terms and conditions prescribed above
      and shall be signed by the Optionee and by the Chief Executive Officer,
      President or any Executive Officer of the Company, for and in the name and
      on
      behalf of the Company. Such Stock Option Agreement shall contain such other
      provisions as the Committee, in its discretion shall deem advisable.

    
      
        
        

      

      
        14

        
          

        

      

      
        
        

      

    

     
      

    Number
      of
      Shares:__________________      
      

    Date
      of
      Grant:     

    

    FORM
      OF NON-QUALIFIED STOCK OPTION AGREEMENT

    

    AGREEMENT
      made this  
              day
      of
                      
          200
       
      ,
      between
 
         
                                                   
 (the
      “Optionee”), and HouseRaising, Inc. , (the “Company”). 

    

    1.
       
      Grant
      of Option 

    

    The
      Company, pursuant to the provisions of the Fourth Amended 2004 Non-Qualified
      Stock Compensation Plan (the “Plan”), adopted by the Board of Directors on
__________________,
      the
      Company hereby grants to the Optionee, subject to the terms and conditions
      set
      forth or incorporated herein, an option to purchase from the Company all or
      any
      part of an aggregate of  
                                  shares
      of
      its $.001 par value common stock, as such common stock is now constituted,
      at
      the purchase price of $                   
         per
      share. The provisions of the Plan governing the terms and conditions of the
      Option granted hereby are incorporated in full herein by reference.

    

    2.
       
      Exercise
      

    

    The
      Option evidenced hereby shall be exercisable in whole or in part on or after
       
                                      
 and
      on or
      before _______________,
      provided that the cumulative number of shares of common stock as to which this
      Option may be exercised (except in the event of death, retirement, or permanent
      and total disability, as provided in paragraph 6.9 of the Plan) shall not exceed
      the following amounts: 

     
      

    
      	
               
                Cumulative
                Number 

              of
                Shares 

            	 	
                
                Prior
                to Date 

              (Note
                Inclusive of) 

            

    

     
      

     
      

    The
      Option evidenced hereby shall be exercisable by the delivery to and receipt
      by
      the Company of (i) written notice of election to exercise, in the form set
      forth
      in Attachment B hereto, specifying the number of shares to be purchased; (ii)
      accompanied by payment of the full purchase price thereof in cash or certified
      check payable to the order of the Company, or by fully paid and nonassessable
      common stock of the Company properly endorsed over to the Company, or by a
      combination thereof, and (iii) by return of this Stock Option Agreement for
      endorsement of exercise by the Company on Schedule I hereof. In the event fully
      paid and nonassessable common stock is submitted as whole or partial payment
      for
      shares to be purchased hereunder, such common stock will be valued at their
      Fair
      Market Value (as defined in the Plan) on the date such shares received by the
      Company are applied to payment of the exercise price. 

     
      

    3.
       
      Transferability
      

    

    The
      Option evidenced hereby is not assignable or transferable by the Optionee other
      than by the Optionee's will or by the laws of descent and distribution, as
      provided in paragraph 6.9 of the Plan. The Option shall be exercisable only
      by
      the Optionee during his lifetime. 

    

      
        
          
          

        

        
          15

          
            

          

        

        
          
          

        

      

    
      	
               
                

            	
               
                

            	
              HouseRaising,
                Inc.  
                

            
	
               
                

            	
               
                

            	
               
                

            
	
               
                

            	
               
                

            	
               
                

            
	
               
                

               
                

              ATTEST:
                

            	
               
                

            	
              By:
                

              Name:
                

              Title:
                

            
	
               
                

            	
               
                

            	
               
                

            
	
               
                

            	
               
                

            	
               
                

            
	
              /s/ 
                

            	
               
                

            	 
	
              Secretary
                

            	
               
                

            	 

    

    

    Optionee
      hereby acknowledges receipt of a copy of the Plan, attached hereto and accepts
      this Option subject to each and every term and provision of such Plan. Optionee
      hereby agrees to accept as binding, conclusive and final, all decisions or
      interpretations of the Board of Directors administering the Plan on any
      questions arising under such Plan. Optionee recognizes that if Optionee's
      employment with the Company or any subsidiary thereof shall be terminated
      without cause, or by the Optionee, prior to completion or satisfactory
      performance by Optionee (except as otherwise provided in paragraph 6 of the
      Plan) all of the Optionee's rights hereunder shall thereupon terminate; and
      that, pursuant to paragraph 6 of the Plan, this Option may not be exercised
      while there is outstanding to Optionee any unexercised Stock Option granted
      to
      Optionee before the date of grant of this Option. 

    

    
      	
              Dated:
                                
                  

            	 
	
               
                

            	
              
                

              

              Optionee
                

            
	
               
                

            	
               
                

            
	
               
                

            	
               
                

            
	
               
                

            	
              
                

              

              Print
                Name 

            
	
               
                

            	
               
                

            
	
               
                

            	
               
                

            
	
               
                

            	
              
                

              

              Address
                

            
	
               
                

            	
               
                

            
	
               
                

            	
               
                

            
	
               
                

            	
              
                

              

              Social
                Security No. 

            

    

     
      

    
      
        
        

      

      
        16

        
          

        

      

      
        
        

      

    

    ATTACHMENT
      B 

    

    NOTICE
      OF
      EXERCISE 

    

    

    To:
       
      HouseRaising,
      Inc. 

    

    

    (1)
        
      The
      undersigned hereby elects to purchase ________ shares of Common Shares (the
      “Common Shares”), of HouseRaising, Inc. , pursuant to the terms of the attached
      Fourth Amended 2004 Non-Qualified Stock Compensation Plan, and tenders herewith
      payment of the exercise price in full, together with all applicable transfer
      taxes, if any. 

     
      

    (2)
        
      Please
      issue a certificate or certificates representing said shares of Common Shares
      in
      the name of the undersigned or in such other name as is specified below:

     
      

    

    _______________________________
      

    (Name)
      

    

    _______________________________
      

    (Address)
      

    

    _______________________________
      

    (Address)

    

     

    Dated:
      

    

    

    
      	 	
              ___________________________________

            
	 	
              Signature
                

            
	 	 
	 	 
	
              Optionee:
                __________________________________

            	
              Date
                of
                Grant: __________________________________

            

    

     

    
      
        
        

      

      
        17

        
          

        

      

      
        
        

      

    

     
      

    SCHEDULE
      I 

    

     
      

    
      	
              DATE
                

            	
              SHARES
                PURCHASED 

            	
              PAYMENT
                RECEIVED 

            	
              UNEXERCISED
                

              SHARES
                

              REMAINING
                

            	
              ISSUING
                

              OFFICER
                

              INITIALS
                

            
	
               
                

            	
               
                

            	
               
                

            	
               
                

            	
               
                

            
	
               
                

            	
               
                

            	
               
                

            	
               
                

            	
               
                

            
	
               
                

            	
               
                

            	
               
                

            	
               
                

            	
               
                

            
	
               
                

            	
               
                

            	
               
                

            	
               
                

            	
               
                

            
	
               
                

            	
               
                

            	
               
                

            	
               
                

            	
               
                

            
	
               
                

            	
               
                

            	
               
                

            	
               
                

            	
               
                

            
	
               
                

            	
               
                

            	
               
                

            	
               
                

            	
               
                

            
	
               
                

            	
               
                

            	
               
                

            	
               
                

            	
               
                

            
	
               
                

            	
               
                

            	
               
                

            	
               
                

            	
               
                

            
	
               
                

            	
               
                

            	
               
                

            	
               
                

            	
               
                

            
	
               
                

            	
               
                

            	
               
                

            	
               
                

            	
               
                

            
	
               
                

            	
               
                

            	
               
                

            	
               
                

            	
               
                

            
	
               
                

            	
               
                

            	
               
                

            	
               
                

            	
               
                

            
	
               
                

            	
               
                

            	
               
                

            	
               
                

            	
               
                

            
	
               
                

            	
               
                

            	
               
                

            	
               
                

            	
               
                

            
	
               
                

            	
               
                

            	
               
                

            	
               
                

            	
               
                

            
	
               
                

            	
               
                

            	
               
                

            	
               
                

            	
               
                

            
	
               
                

            	
               
                

            	
               
                

            	
               
                

            	
               
                

            
	
               
                

            	
               
                

            	
               
                

            	
               
                

            	
               
                

            

    

     
      

     
      

    
      
        
        

      

      
        18

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00106-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00106-of-00352.parquet"}]]