Document:

Exhibit
10.13

    

    RURBANC
DATA SERVICES, INC.

    2010
STOCK INCENTIVE PLAN

    

    ARTICLE
I

    Definitions

     

    Section 1.1
Definitions. As used herein, the following terms shall have the meaning
set forth below, unless the context clearly requires otherwise:

    

    
      	
            	
              (a)

            	
              “Applicable
      Event” shall mean:

            

    

    

    (i) Any
“person,” including a “group” (as such terms are used in Subsections 13(d) and
14(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)
and the rules promulgated thereunder, but excluding the Company, any Subsidiary
or any employee benefit plan of the Company or any Subsidiary), becomes the
“beneficial owner” (as defined in Rule 13d-3 under the Exchange Act), directly
or indirectly, of, or acquires the power to direct, directly or indirectly, the
exercise of voting power with respect to, securities which represent 50% or more
of the combined voting power of the Company’s outstanding securities
thereafter;

    

    (ii) The
Company is merged with or into another entity, in which the Company is not the
continuing or surviving entity or pursuant to which any securities of the
Company would be converted into cash, securities or other property of another
entity, other than a merger or consolidation in which holders of the securities
of the Company immediately prior to the merger or consolidation have the same
proportionate ownership of securities of the surviving entity immediately after
the merger or consolidation as they had of securities of the Company immediately
before the merger or consolidation; or

    

    (iii) The
shareholders of the Company approve an agreement for the sale or disposition by
the Company of all or substantially all of the Company’s assets (or any
transaction having a similar effect).

    

    
      	
            	
              (b)

            	
              “Award”
      shall mean any Option, Restricted Stock or Stock Appreciation Right
      granted under the Plan.

            

    

    

    
      	
            	
              (c)

            	
              “Award
      Agreement” shall mean an agreement between the Company and a Participant
      that describes the terms and conditions of each
  Award.

            

    

    

    
      	
            	
              (d)

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

            

    

    

    
      	
            	
              (e)

            	
              “Change
      in Control Price” shall mean the price (or other property) per share of
      Stock paid in conjunction with any transaction resulting in an Applicable
      Event or, in the case of an Applicable Event occurring solely by reason of
      events not related to a transfer of the Stock, the Fair Market Value of a
      share of Stock on the last trading day before the Applicable Event
      occurs.

            

    

    

    
      	
            	
              (f)

            	
              “Code”
      shall mean the Internal Revenue Code of 1986, as
  amended.

            

    

    

    
      	
            	
              (g)

            	
              “Committee”
      shall mean the Compensation Committee of the
  Board.

            

    

     

    
      
         

      

      
        1

        
          

        

      

      
         

      

    

     

    
      	
            	
              (h)

            	
              “Company”
      shall mean Rurbanc Data Services,
Inc.

            

    

    

    
      	
            	
              (i)

            	
              “Director”
      shall mean an individual who (i) is a member of the Board, a member of the
      Board of Directors of a Subsidiary, or a member of an advisory board who
      is appointed by the Board; and (ii) is not an
    Employee.

            

    

    

    
      	
            	
              (j)

            	
              “Disability”
      shall mean:

            

    

    
      	
               
      

            	
              (i)

            	
              With
      respect to Incentive Stock Options, disability as defined in
      Section 22(e)(3) of the Code;
and

            

    

     

    
      	
               
      

            	
              (ii)

            	
              With
      respect to any other Award, a physical or mental impairment that renders a
      Participant incapable of performing the essential functions of his job on
      a full-time basis, taking into account any reasonable accommodation
      required by law, as determined by a physician who is selected by the
      Committee, for a period greater than 180
days.

            

    

     

    
      	
            	
              (k)

            	
              “Effective
      Date” with respect to the Plan shall mean the date specified in Section
      2.3 as the Effective Date.

            

    

    

    
      	 	
              (l)

            	
              “Employee”
      shall mean any person, including an executive officer, who is employed by
      the Company or any of its
Subsidiaries.

            

    

     

    
      	
            	
              (m)

            	
              “Fair
      Market Value” shall mean the value of a share of Stock on any relevant
      date, determined as follows:

            

    

    

    
      	
               
      

            	
              (i)

            	
              If
      the Stock is traded on an exchange, the reported “closing price” on the
      relevant date if it is a trading day or, otherwise, on the next trading
      day;

            

    

    

    
      	
               
      

            	
              (ii)

            	
              If
      the Stock is not traded on an exchange but is traded over-the-counter on a
      quotation system, the reported “closing price,” if reported, or if there
      is no reported “closing price,” the mean between the highest bid and the
      lowest asked prices on that quotation system on the relevant date if it is
      a trading day, or otherwise, on the next trading day;
  or

            

    

     

    
      	
            	
              (iii)

            	
              If
      neither subparts (i) or (ii) of this definition
  apply,

            

    

     

    (1) With
respect to any Incentive Stock Option, fair market value within the meaning of
Section 422 of the Code;

     

    (2) With
respect to any Award that is subject to Section 409A of the Code or any
Nonqualified Stock Option or Stock Appreciation Right, fair market value shall
be determined by the reasonable application of a reasonable valuation method
within the meaning of Treasury Regulation §1.409A-1(b)(5)(iv)(B);
and

     

    (3) With
respect to any other Award, fair market value shall be determined by application
of such reasonable valuation methods as the Committee shall adopt or
apply.

     

    
      	
            	
              (n)

            	
              “Incentive
      Stock Option” shall mean an Option to purchase shares of Stock which is
      designated as an Incentive Stock Option by the Committee and is intended
      to meet the requirements of Section 422 of the
  Code.

            

    

     

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

     

    
      	
            	
              (o)

            	
              “Nonqualified
      Stock Option” shall mean an Option to purchase shares of Stock which is
      not an Incentive Stock Option.

            

    

    

    
      	
            	
              (p)

            	
              “Option”
      shall mean an option to purchase Stock granted pursuant to the provisions
      of the Plan.  Options granted under the Plan shall be either
      Nonqualified Stock Options or Incentive Stock
  Options.

            

    

    

    
      	
            	
              (q)

            	
              “Participant”
      shall mean a Director or Employee to whom an Award has been granted under
      the Plan.

            

    

    

    
      	
            	
              (r)

            	
              “Plan”
      shall mean the Rurbanc Data Services, Inc. 2010 Stock Incentive Plan, the
      terms of which are set forth herein and in any amendment which may be made
      hereto.

            

    

    

    
      	
            	
              (s)

            	
              “Restricted
      Stock” shall mean a share of Stock granted to a Participant pursuant to
      Article VIII of the Plan.

            

    

     

    
      	
            	
              (t)

            	
              “Retirement”
      shall mean a voluntary termination by the Participant after
      (i) attaining the age of 62 and (ii) completing five or more
      years of service with the Company or a
  Subsidiary.

            

    

    

    
      	
            	
              (u)

            	
              “Stock”
      shall mean the common shares, without par value, of the Company or, in the
      event that the outstanding shares of Stock are changed into or exchanged
      for different shares or securities of the Company or some other entity,
      such other shares or securities.

            

    

    

    
      	
            	
              (v)

            	
              “Stock
      Appreciation Right” shall mean a right to receive cash in an amount equal
      to the excess of the Fair Market Value on the exercise date over the Fair
      Market Value on the date the Stock Appreciation Right is granted pursuant
      to the provisions of the Plan.

            

    

    

    
      	
            	
              (w)

            	
              “Subsidiary”
      shall mean:

            

    

    

    
      
        	
              	
                (i)

              	
                With
      respect to an Incentive Stock Option, a “subsidiary corporation” as
      defined in Section 424(f) of the Code;
and

              

      

    

    

    
      
        	
              	
                (ii)

              	
                With
      respect to any other Award, any person with whom the Company would be
      considered to have a controlling interest, as defined in Treasury
      Regulation
§1.409A-1(b)(5)(iii)(E)(1).

              

      

    

    

    ARTICLE
II

    The
Plan

    

    Section
2.1  Name. The Plan shall be known as the “Rurbanc Data
Services, Inc. 2010 Stock Incentive Plan.”

    

    Section
2.2  Purpose.   The purpose of the Plan is to
advance the interests of the Company and its shareholders by affording to
Directors and Employees an opportunity to acquire or increase their proprietary
interest in the Company by the grant to such persons of Awards under the terms
set forth herein.  By encouraging such persons to become owners of the
Company, the Company seeks to attract, motivate, reward and retain those highly
competent individuals upon whose judgment, initiative, leadership and efforts
are key to the success of the Company.

     

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

     

    Section
2.3  Effective Date and Termination of Plan. The Plan shall
become effective upon the affirmative vote of the Board on March 16, 2010 (the
“Effective Date”); provided, however, that, if the Plan is not approved by the
shareholders of the Company within twelve (12) months following such adoption,
the Plan and all outstanding Awards, if any, shall be deemed null and void and
shall be of no force or effect. No Awards granted under the Plan may be
exercised prior to approval of the Plan by the shareholders of the Company. The
Plan shall terminate upon the earliest of (a) March 16, 2020; (b) the date on
which all Stock available for issuance under the Plan has been issued pursuant
to the exercise or settlement, as applicable, of Awards granted hereunder or
with respect to which payments have been made upon the exercise of Stock
Appreciation Rights or other rights; or (c) the determination of the Board that
the Plan shall terminate. No Awards may be granted under the Plan after such
termination date, provided that the Awards granted and outstanding on such date
shall continue to have force and effect in accordance with the provisions of the
Award Agreements evidencing such Awards.

    

    ARTICLE
III

    Administration

    

    Section
3.1  Administration.

    

    
      	
            	
              (a)

            	
              The
      Plan shall be administered by the Committee. Subject to the express
      provisions of the Plan, the Committee shall have sole discretion and
      authority to determine from time to time the individuals to whom Awards
      may be granted, the number of shares of Stock to be subject to each Award,
      the period during which each Option or Stock Appreciation Right may be
      exercised, the price at which each Option or Stock Appreciation Right may
      be exercised, and the terms and conditions of any
  Award.

            

    

    

    
      	
            	
              (b)

            	
              Meetings
      of the Committee shall be held at such times and places as shall be
      determined from time to time by the Committee. A majority of the members
      of the Committee shall constitute a quorum for the transaction of
      business. The vote of a majority of the members of the Committee shall
      decide any question brought before the meeting. In addition, the Committee
      may take any action otherwise proper under the Plan by the execution of a
      written action, taken without a meeting, and signed by all of the members
      of the Committee.

            

    

    

    
      	
            	
              (c)

            	
              All
      questions of interpretation and application with respect to the Plan or
      Awards granted thereunder shall be subject to the determination, which
      shall be final and binding, of a majority of the whole
      Committee.

            

    

    

    
      	
            	
              (d)

            	
              The
      Committee shall have the sole discretion and authority to determine
      whether an Option shall be an Incentive Stock Option or a Nonqualified
      Stock Option; provided that Incentive Stock Options may be granted only to
      persons who are Employees.

            

    

    

    
      	
            	
              (e)

            	
              Notwithstanding
      any provision contained herein, a grant of an Award to a Director of the
      Company must be approved by the full
Board.

            

    

    

    
      	
            	
              (f)

            	
              Each
      person who is or shall have been a member of the Committee or of the Board
      shall be indemnified and held harmless by the Company against and from any
      loss, cost, liability or expense that may be imposed upon or reasonably
      incurred by him in connection with or resulting from any claim, action,
      suit or proceeding to which he may be a party or in which he may be
      involved by reason of any action taken or failure to act under the Plan
      and against and from any and all amounts paid by him in settlement
      thereof, with the Company’s approval, or paid by him in satisfaction of
      judgment in any such action, suit or proceeding against him; provided that
      he shall give the Company an opportunity, at its own expense, to handle
      and defend the same before he undertakes to handle and defend it on his
      own behalf. The foregoing right of indemnification shall not be exclusive
      of any other rights of indemnification to which such person may be
      entitled under the Company’s articles of incorporation or regulations, as
      a matter of law, or otherwise, or any power that the Company may have to
      indemnify him or hold him harmless.

            

    

     

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

     

    Section
3.2  Company Assistance. The Company and its Subsidiaries shall
supply full and timely information to the Committee on all matters relating to
eligible Employees, their employment, death, Retirement, Disability or other
termination of employment and such other pertinent facts 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.

    

    ARTICLE
IV

    Participants

    

    Section
4.1  Eligibility. Directors and Employees shall be eligible to
participate in the Plan. The Committee may grant Awards to any eligible
individual subject to the provisions of Sections 3.1(e) and 5.1.

    

    ARTICLE
V

    Shares
of Stock Subject to Plan

    

    Section 5.1  Grant
of Awards and Limitations.

    

    
      	
            	
              (a)

            	
              Grant of
      Awards. The Committee shall designate the Employees and Directors
      eligible to receive Awards and the number of shares of Stock subject to
      such Awards.

            

    

    

    
      	
            	
              (b)

            	
              Stock Available for
      Awards. Subject to adjustment pursuant to the provisions of Section
      11.4 hereof, the aggregate number of shares of Stock with respect to which
      Awards may be granted during the term of the Plan shall not exceed
      972,356. Shares with respect to which Awards may be granted may be either
      authorized and unissued shares of Stock or shares of Stock issued and
      thereafter acquired by the Company.

            

    

    

    
      	
            	
              (c)

            	
              Incentive Stock
      Options. In the case of Incentive Stock Options, the aggregate Fair
      Market Value of the shares of Stock (under all plans of the Company and
      all of its Subsidiaries), with respect to which Incentive Stock Options
      are exercisable for the first time by a Participant during any calendar
      year, may not exceed $100,000.  Such Options that exceed
      $100,000 shall be treated as Nonqualified Stock Options.  The
      maximum number of shares of Stock that may be granted under the Plan
      through the exercise of Incentive Stock Options shall be
      530,000.

            

    

    

    Section
5.2  Awards Under the Plan. Shares of Stock with respect to
which an Award granted hereunder shall have been exercised or settled, as
applicable, shall not again be available for grant hereunder. If Awards granted
hereunder shall expire, terminate or be canceled for any reason without being
wholly exercised or settled, as applicable, new Awards may be granted hereunder
covering the number of shares of Stock to which such Award’s expiration,
termination or cancellation relates.

    

    
      
         

      

      
        5

        
          

        

      

      
         

      

    

    

    ARTICLE
VI

    Options

    

    Section 6.1  Grant
of Options.  Subject to the terms, restrictions and conditions
specified in the Plan and the associated Award Agreement, the Committee may
grant Nonqualified Stock Options and Incentive Stock Options to Employees and
Nonqualified Stock Options to Directors at any time during the term of the
Plan.  Each Option granted hereunder shall be evidenced by minutes of
a meeting or the written consent of all of the members of the Committee or the
Board, as applicable, and by a written Award Agreement dated as of the date of
grant and executed by the Company and the Participant. The Award Agreement shall
be in such form as the Committee shall approve from time to time.  The
Award Agreement shall set forth such terms and conditions of the Option as may
be determined by the Committee, consistent with the Plan.

    

    Section
6.2  Exercise Price.  The exercise price of the Stock
subject to an Option shall not be less than the Fair Market Value on the date
the Option is granted; provided, however, that the exercise price for an
Incentive Stock Option granted to a Participant who owns or who is deemed to own
shares possessing more than 10% of the total combined voting power of all
classes of shares of the Company or any Subsidiary as determined under Section
422 of the Code (a “10 Percent Owner”), shall not be less than 110% of the Fair
Market Value on the date the Incentive Stock Option is granted.

    

    Section
6.3  Option Grant and Exercise Periods. No Option may be
granted after the tenth anniversary of the Effective Date. The period for
exercise of each Option shall be determined by the Committee, but in no instance
shall such period extend beyond the tenth anniversary of the date of grant of
the Option. The period of exercise for each Incentive Stock Option granted to a
10 Percent Owner may not be more than 5 years from the date of grant of the
Option.

    

    Section
6.4  Option Exercise.

    

    
      	
            	
              (a)

            	
              Subject
      to Section 6.4(c) and such terms and conditions as may be determined by
      the Committee in its sole discretion upon the grant of an Option, an
      Option may be exercised in whole or in part (but with respect to whole
      shares only) and from time to time by delivering to the Company at its
      principal office written notice of intent to exercise the Option with
      respect to a specified number of
shares.

            

    

    

    
      	
            	
              (b)

            	
              Options
      shall be exercisable according to respective vesting schedules set forth
      in each Award Agreement as determined by the Committee.  At the
      discretion of the Committee, all or a portion of Options previously
      granted to a Participant can be amended to reduce the vesting schedule or
      immediately 100% vest such Options.

            

    

    

    
      	
            	
              (c)

            	
              Subject
      to such terms and conditions as may be determined by the Committee in its
      sole discretion upon grant of any Option, payment for the shares of Stock
      to be acquired pursuant to exercise of the Option shall be made as
      follows:

            

    

    

    
      	
               
      

            	
              (1)

            	
              By
      delivering to the Company at its principal office a check payable to the
      order  of “Rurbanc Data Services, Inc.” in the amount of the
      exercise price for the number of shares of Stock with respect to which the
      Option is then being exercised; or

            

    

    

    
      	
               
      

            	
              (2)

            	
              By
      tendering to the Company shares of Stock owned by the Participant for at
      least six months prior to the date the Option is exercised (or such other
      period acceptable under the generally accepted accounting principles)
      having an aggregate Fair Market Value as of the date of exercise equal to
      the exercise price for the number of shares of Stock with respect to which
      the Option is then being exercised;
or

            

    

     

    
      
         

      

      
        6

        
          

        

      

      
         

      

    

    
 

    
      	
               
      

            	
              (3)

            	
              By
      any combination of payments delivered pursuant to paragraphs (c)(1) and
      (c)(2) above.

            

    

    

    Section
6.5  Rights as Shareholder.  A Participant shall have
no rights as a shareholder with respect to any share of Stock subject to such
Option prior to the exercise of the Option and the purchase of such shares of
Stock.

    

    ARTICLE
VII

    Stock
Appreciation Rights

    

    Section 7.1  Stock
Appreciation Rights. Subject to the terms and conditions of the Plan, the
Committee may grant Stock Appreciation Rights to Participants at any time during
the term of the Plan, either alone or in tandem with other
Awards.  Such Stock Appreciation Rights shall be evidenced by an Award
Agreement in such form as the Committee shall from time to time approve. Such
Award Agreements shall comply with, and be subject to, the following terms and
conditions:

    

    
      	
            	
              (a)

            	
              Exercise
      Price.  The exercise price of a Stock Appreciation Right
      may not be less than 100% of Fair Market Value on the date of
      grant.

            

    

    

    
      	
            	
              (b)

            	
              Period and
      Exercise.  The Award Agreement will specify the period
      over which a Stock Appreciation Right may be exercised and the terms and
      conditions that must be met before it may be exercised; provided, however,
      that an Award Agreement may not permit the Stock Appreciation Right to be
      exercisable more than 10 years after the date of grant.  A
      Participant may exercise a Stock Appreciation Right by giving written
      notice of exercise on a form acceptable to the Committee specifying the
      portion of the Stock Appreciation Right being
  exercised.

            

    

    

    
      	
            	
              (c)

            	
              Calculation of
      Appreciation. Upon the exercise of a Stock Appreciation Right, the
      Participant shall be entitled to receive either (i) cash equal to the
      excess of the Fair Market Value on the exercise date over the Fair Market
      Value on the date the Stock Appreciation Right was granted, multiplied by
      the number shares of Stock with respect to which the Stock Appreciation
      Right is being exercised (the “Cash Amount”), or (ii) a number of shares
      of Stock equal to the Cash Amount, divided by the Fair Market Value on the
      exercise date of the Stock Appreciation
Right.

            

    

    

    
      	
            	
              (d)

            	
              Payment of
      Appreciation. The total appreciation available to a Participant
      from an exercise of a Stock Appreciation Right shall be paid in a single
      lump sum payment in either cash or shares of Stock, as determined by the
      Committee.

            

    

    

    
      	
            	
              (e)

            	
              Rights as a
      Shareholder. A Participant shall have no rights as a shareholder
      with respect to any share of Stock subject to a Stock Appreciation
      Right.

            

    

    

    ARTICLE
VIII

    Restricted
Stock

    

    Section 8.1  Grant
of Restricted Stock.  Subject to the terms and conditions of
the Plan, the Committee may grant Restricted Stock to Participants at any time
during the term of the Plan.  Such Restricted Stock shall be subject
to the terms and conditions that the Committee specifies in the Award Agreement
and to the terms and conditions of the Plan.  At the Committee’s sole
discretion, all shares of Restricted Stock will be held by the Company as escrow
agent or issued to the Participant in the form of certificates bearing a legend
describing the restrictions imposed on the shares.

     

    
      
         

      

      
        7

        
          

        

      

      
         

      

    

    

    Section
8.2  Earning Restricted Stock.  Restricted Stock may
not be sold, transferred, pledged, assigned or otherwise alienated or
hypothecated until the terms, restrictions and conditions imposed on the
Restricted Stock have lapsed as described in the Award
Agreement.  Restricted Stock will be (a) forfeited if all terms,
restrictions and conditions described in the Award Agreement have not been
satisfied or (b) released from escrow and distributed (or any restrictions
described in the certificates removed) as soon as practicable after all terms,
restrictions and conditions described in the Award Agreement have been
satisfied.

    

    Section
8.3  Rights Associated with Restricted Stock.  During
the applicable period of restriction and unless the Award Agreement provides
otherwise, each Participant to whom Restricted Stock has been granted (a) may
exercise full voting rights associated with that Restricted Stock; and (b) will
be entitled to receive all dividends and other distributions paid with respect
to that Restricted Stock; provided, however, that if any dividends or other
distributions are paid in shares of Stock, those shares will be subject to the
same restrictions on transferability and forfeitability as the shares of
Restricted Stock with respect to which they were issued.

     

    ARTICLE
IX

    Amendment
and Modification of Plan

    

    Section
9.1  Amendment. The Board may from time to time amend or modify
or make such changes in and additions to the Plan as it may deem desirable,
without further action on the part of the shareholders of the Company except as
such shareholder approval may be required (a) to satisfy the requirements of
Rule 16b-3 under the Exchange Act or any successor rule or regulation; (b) to
satisfy applicable requirements of the Code; or (c) to satisfy applicable
requirements of any securities exchange on which are listed any of the Company’s
equity securities. No such action to amend the Plan shall reduce the
then-existing number of Awards granted to any Participant or adversely change
the terms and conditions thereof without such Participant’s
consent.

    

    ARTICLE
X

    Withholding

      

    Section 10.1  Tax
Withholding. With respect to Employees, the Company shall have the power
and the right to deduct or withhold an amount sufficient to satisfy federal,
state and local taxes required by law to be withheld with respect to any grant,
exercise, or payment made under or as a result of the Plan. At the discretion of
the Committee, a Participant may be permitted to pay to the Company the
withholding amount in the form of cash or shares of Stock owned by the
Participant for at least the previous six months (or such other period
acceptable under the generally accepted account principles) or by having the
Company withhold shares of Stock from the settlement of the Award.  If
payment of the withholding amount is made by tendering shares of Stock, the
value of the shares of Stock tendered shall equal the Fair Market Value on the
day preceding the date of exercise of the Award.

     

    ARTICLE
XI

    Miscellaneous

    

    Section
11.1  Transferability. During the Participant’s lifetime, any
Award may be exercised only by the Participant or any guardian or legal
representative of the Participant, and the Award shall not be transferable
except by will or the laws of descent and distribution, and with respect to
Awards, except Incentive Stock Options, (a) as specifically permitted by and
solely to the extent permitted in the Award Agreement, or (b) to an immediate
family member, a partnership consisting solely of immediate family members, or
trusts for the benefit of immediate family members.

     

    
      
         

      

      
        8

        
          

        

      

      
         

      

    

    

    Section
11.2  Designation of Beneficiary.  A Participant may
file a written designation of a beneficiary who is to receive any Stock that is
unsettled and/or cash that is unpaid in the event of the Participant’s death.
Such designation of beneficiary may be changed by the Participant at any time by
written notice to the Company. Upon the death of a Participant and upon receipt
by the Company of proof of identity and the existence of a beneficiary at the
time of the Participant’s death validly designated by the Participant under the
Plan, the Company shall deliver such Stock and/or cash to such
beneficiary.  In the event of the death of a Participant in the
absence of a beneficiary validly designated under the Plan who is living at the
time of such Participant’s death, the Company shall deliver such Stock and/or
cash to the executor or the administrator of the estate of the Participant, or
if no such executor or administrator has been appointed (to the knowledge of the
Company), the Company, in its discretion, may deliver such Stock and/or cash to
the spouse or to any one or more dependents of the Participant as the Company
may designate. No beneficiary shall, prior to the death of the Participant by
whom he has been designated, acquire any interest in the Stock and/or cash
credited to the Participant under the Plan.

    

    Section
11.3  Effect of Termination, Death, Disability and
Retirement.  Unless otherwise specified in the Award Agreement,
all Awards will be exercisable or forfeited as described in this Section
11.3:

    

    
      	
            	
              (a)

            	
              Termination.  If
      a Participant’s service as a Director or an Employee terminates for any
      reason, other than his Retirement, death or Disability, before the
      expiration of the Awards held by such Participant, (i) any Options
      and Stock Appreciation Rights that are not exercisable and any unvested
      Restricted Stock shall become null and void on the date of such
      termination and (ii) all exercisable Options and Stock Appreciation
      Rights shall terminate on the earlier of (1) the date of expiration
      of the Options and Stock Appreciation Rights, as applicable, or
      (2) 30 days following the date of the Participant’s
      termination.  A Participant who terminates employment with the
      Company, but retains his status as a Director, is not considered
      terminated with respect to Nonqualified Stock Options, Stock Appreciation
      Rights, and Restricted Stock under this Section 11.3.  The
      date of such termination shall be the date the Participant ceases to be
      both a Director and an Employee of the
Company

            

    

    

    
      	
            	
              (b)

            	
              Death.  If
      a Participant’s service as a Director or an Employee terminates due to his
      death before the expiration of the Awards held by the Participant, (i) any
      Options and Stock Appreciation Rights that are not exercisable shall
      become exercisable, (ii) any outstanding Options and Stock Appreciation
      Rights shall terminate on the earlier of (1) the date of expiration of the
      Options and Stock Appreciation Rights, as applicable, or (2) one year
      following the date of the Participant’s death; and (iii) any unvested
      Restricted Stock shall become fully vested.  The executor,
      administrator or personal representative of the estate of a deceased
      Participant, or the person or persons to whom an Award granted hereunder
      shall have been validly transferred by the executor, the administrator or
      the personal representative of the Participant’s estate, shall have the
      right to exercise the Participant’s Option or Stock Appreciation Right or
      receive the Participant’s Restricted Stock.  To the extent that
      such Options and Stock Appreciation Rights would otherwise be exercisable
      under the terms of the Plan and the Participant’s Award Agreement, such
      exercise may occur at any time prior to the termination date specified in
      this Section 11.3(b).

            

    

    

    
      	
            	
              (c)

            	
              Disability.  If
      a Participant’s service as a Director or an Employee terminates due to his
      Disability before the expiration of the Awards held by the Participant,
      (i) any Options and Stock Appreciation Rights that are not exercisable
      shall become exercisable, (ii) any outstanding Options and Stock
      Appreciation Rights shall terminate on the earlier of (1) the date of
      expiration of the Options and Stock Appreciation Rights, as applicable, or
      (2) one year following the date of the Participant’s termination of
      service due to Disability; and (iii) any unvested Restricted Stock shall
      become fully vested.

            

    

     

    
      
         

      

      
        9

        
          

        

      

      
         

      

    

     

    
      	
               
      

            	
              (d)

            	
              Retirement.  If
      a Participant Retires before the date of expiration of the Awards held by
      such Participant, (i) any Options and Stock Appreciation Rights that are
      not exercisable shall become exercisable, (ii) any outstanding Options and
      Stock Appreciation Rights shall terminate on the earlier of (1) the date
      of expiration of the Options and Stock Appreciation Rights, as applicable,
      or (2) one year following the date of the Participant’s Retirement;
      provided, however, that an Incentive Stock Option that is not exercised
      within three months after the date of the Participant’s Retirement shall
      be treated as a Nonqualified Stock Option; and (iii) any unvested
      Restricted Stock shall become fully
vested.

            

    

    

    Section
11.4  Antidilution.  If there is a Stock dividend,
Stock split, recapitalization (including payment of an extraordinary dividend),
merger, consolidation, combination, spin-off, distribution of assets to
shareholders, exchange of shares or other similar corporate change affecting the
Stock, the Committee will appropriately adjust (a) the aggregate number of
shares of Stock available for Awards or subject to outstanding Awards (as well
as any Stock-based limits imposed under the Plan) (b) the respective exercise
price, number of shares of Stock and other limitations applicable to outstanding
Awards, and (c) and other factors, limits or terms affecting any outstanding
Awards.  Notwithstanding the foregoing, an adjustment pursuant to this
Section 11.4 shall be made only to the extent such adjustment complies, to the
extent applicable, with Section 409A of the Code.

     

    Section 11.5 Applicable
Event. In the event an Applicable Event occurs, (a) if determined by the
Committee in the applicable Award Agreement or otherwise determined by the
Committee in its sole discretion, any outstanding Awards then held by
Participants which are unexercisable or otherwise unvested or subject to lapse
restrictions may automatically be deemed exercisable or otherwise vested or no
longer subject to lapse restrictions, as the case may be, as of immediately
prior to such Applicable Event and (b) the Committee may, but shall not be
obligated to (i) cancel such Awards for the Change in Control Price or (ii)
provide for the issuance of substitute Awards that will substantially preserve
the otherwise applicable terms of any affected Awards previously granted
hereunder as determined by the Committee in its sole discretion or (iii) provide
that for a period of at least fifteen (15) days prior to the Applicable Event,
any Options or Stock Appreciation Rights shall be exercisable as to all Shares
subject thereto and that upon the occurrence of the Applicable Event, such
Options and Stock Appreciation Rights shall terminate and be of no further force
and effect.

    

    Section
11.6  Application of Funds. The proceeds received by the
Company from the sale of Stock pursuant to Awards shall be used for general
corporate purposes.

    

    Section
11.7  Tenure. Nothing in the Plan or in any Award granted
hereunder or in any Award Agreement relating thereto shall confer upon any
Director or Employee the right to continue in such position with the Company or
any Subsidiary.

    

    Section
11.8  Other Compensation Plans.  The adoption of the
Plan shall not affect any other stock option or incentive or other compensation
plans in effect for the Company or any Subsidiary, nor shall the Plan preclude
the Company or any Subsidiary from establishing any other forms of incentive or
other compensation for Directors or Employees.

    

    Section 11.9  No
Obligation to Exercise Awards. The granting of an Award shall impose no
obligation upon the Participant to exercise or accept such Award.

     

    
      
         

      

      
        10

        
          

        

      

      
         

      

    

    

    Section
11.10  Plan Binding on Successors.  The Plan shall be
binding upon the successors and assigns of the Company.

    

    Section
11.11  Compliance with Section 16.  If the Company
has a class of equity securities registered under Section 12 of the Exchange
Act, transactions under the Plan are intended to comply with all applicable
conditions of Rule 16b-3 or its successors under the Exchange Act. To the extent
that any transaction or action by the Committee fails to so comply, the
Committee may amend the Plan and the terms of any outstanding Award, and any
action of the Committee which fails to comply shall be deemed void to the extent
permitted by law and deemed advisable by the Committee.

    

    Section
11.12  Requirements of Law.  The grant of Awards and
the issuance of shares of Stock will be subject to all applicable laws, rules
and regulations and to all required approvals of any governmental agencies or
exchange, market or other quotation system on or through which the securities of
the Company are then traded.  Also, no shares of Stock will be issued
under the Plan unless the Company is satisfied that the issuance of those shares
of Stock will comply with applicable federal and state securities
laws.  Shares of Stock tendered under the Plan may be subject to any
stock transfer orders and other restrictions that the Committee believes to be
advisable under the rules, regulations and other requirements of the Securities
and Exchange Commission, any exchange, market or other quotation system on or
through which the Company’s securities are then traded or any other applicable
federal or state securities law.  The Committee may cause a legend or
legends to be placed on any certificates issued under the Plan to make
appropriate reference to restrictions within the scope of this
section..

    

    Section
11.13  Singular, Plural Gender.  Whenever used
herein, nouns in the singular shall include the plural, and the masculine
pronoun shall include the feminine.

     

    Section
11.14  Headings.  Headings are inserted for
convenience of reference; they constitute no part of the Plan.

    

    Section
11.15  Governing Law. Except as otherwise required by law, the
validity, construction and administration of the Plan shall be determined under
the laws of the State of Ohio.

     

    Section
11.16  Section 409A of the Code.  It is intended that
Awards granted under the Plan comply with or be exempt from the requirements of
Section 409A of the Code and the Treasury Regulations promulgated thereunder
(and any subsequent notices or guidance issued by the Internal Revenue Service),
and the Plan will be interpreted, administered and operated
accordingly.  Nothing herein shall be construed as an entitlement to
or guarantee of any particular tax treatment to a Participant.

    
      
         

      

      
        11Unassociated Document

     

    CONSULTING
AGREEMENT

     

    THIS
AGREEMENT is dated for reference the 26th day of
March 2010.

     

    BETWEEN:

     

    Clenergen
Corporation., a body corporate with offices at

    
      5379
Lyons Road

      Suite
301

      Coconut
Creek, FL. 33073

      USA

       

      (the
“Company”)

    

     

    AND:

    
       

      Sanilkumar
Madhavikutty Bhaskaran Nair,   with an address
at

      #440-1,
Sruthi, Vara
291                                                                                                            

      Vattiyoorkadu-PO          

      Trivandrum                

      Kerala
695013  

      India

       

      (the
“Contractor”)

    

     

    WHEREAS:

     

    A.                      The
Company desires to retain the Contractor to provide Consulting Services (the
“Services”), in regards
to the Company’s management and operations, and

     

    B.                      The
Contractor has agreed to provide the Services to the Company on the terms and
conditions of this Agreement.

     

    NOW THEREFORE THIS AGREEMENT WITNESSES
that in consideration of the mutual covenants and promises set forth herein, and
for other good and valuable consideration, the receipt and sufficiency of which
is hereby acknowledged by each, the parties hereto agree as
follows:

     

    ARTICLE 1

    APPOINTMENT
AND AUTHORITY OF CONTRACTOR

     

    1.1                      Appointment of
Contractor.  The Company hereby appoints the Contractor to
perform the Services for the benefit of the Company as hereinafter set forth,
and the Company hereby authorizes the Contractor to exercise such powers as
provided under this Agreement.  The Contractor accepts such
appointment on the terms and conditions herein set forth.

     

    1.2                      Performance of
Services.  The Services hereunder have been and shall continue
to be provided on the basis of the following terms and conditions:

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	
               
      

            	
              (a)

            	
              the
      Contractor shall report directly to the Chief Executive Officer and/or
      President of the Company;

            

    

     

    
      	
               
      

            	
              (b)

            	
              the
      Contractor shall faithfully, honestly and diligently serve the Company and
      cooperate with the Company and utilize maximum professional skill and care
      to ensure that all services rendered hereunder, including the Services,
      are to the satisfaction of the Company, acting reasonably, and the
      Contractor shall provide any other services not specifically mentioned
      herein, but which by reason of the Contractor's capability the Contractor
      knows or ought to know to be necessary to ensure that the best interests
      of the Company are maintained; and

            

    

     

    
      	
               
      

            	
              (c)

            	
              the
      Company shall report the results of the Contractor's duties hereunder as
      may be requested by the Company from time to
  time.

            

    

     

    1.3                      Authority of
Contractor.  The Contractor shall have no right or authority,
express or implied, to commit or otherwise obligate the Company in any manner
whatsoever except to the extent specifically provided herein or specifically
authorized in writing by the Company.

     

    1.4                      Independent
Contractor.  In performing the Services, the Contractor shall
be an independent contractor and not an employee or agent of the Company, except
that the Contractor shall be the agent of the Company solely in circumstances
where the Contractor must be the agent to carry out its obligations as set forth
in this Agreement.  Nothing in this Agreement shall be deemed to
require the Contractor to provide the Services exclusively to the Company and
the Contractor hereby acknowledges that the Company is not required and shall
not be required to make any remittances and payments required of employers by
statute on the Contractor's behalf and the Contractor or any of its agents shall
not be entitled to the fringe benefits provided by the Company to its
employees.

     

    ARTICLE 2

    CONTRACTOR'S
AGREEMENTS

     

    2.1                      Regulatory
Compliance.  The Contractor agrees to comply with all
applicable securities legislation and regulatory policies in relation to
providing the Services, including but not limited to United States securities
laws (in particular, Regulation FD) and the policies of the United States
Securities and Exchange Commission.

     

    2.2                      Prohibition Against Insider
Trading.  The Contractor hereby acknowledges that the
Contractor is aware, and further agrees that the Contractor will advise those of
its directors, officers, employees and agents who may have access to
Confidential Information, that United States securities laws prohibit any person
who has material, non-public information about a company from purchasing or
selling securities of such a company or from communicating such information to
any other person under circumstances in which it is reasonably foreseeable that
such person is likely to purchase or sell such securities.

     

    ARTICLE 3

    COMPANY'S
AGREEMENTS

     

    3.1           Compensation
Shares.  The compensation for professional services provided
prior to the date of this agreement and in consideration for future services
provided (as outlined in Schedule A), the Consultant shall be vested
500,000shares of the Company's common stock (the “Compensation
Shares”).

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

    3.2           The
Consultant shall be appointed as a Non Executive Director of the Company and be
paid a fixed monthly fee in the amount of £1,000.00 per month commencing as of
April 1st, 2010. Payment of consulting fees will be paid on the 30thth day of
each month commencing April 30, 2010.  In addition to the monthly fee,
all expenses incurred on behalf of Clenergen Corporation will be reimbursed upon
receipt of an expenses report, detailing the expenses incurred. Reimbursement of
expenses will be submitted on the last day of the preceding month and will be
paid within 7 days from receipt of the invoice. In the event that an expense in
excess of $200, it will require pre approval from senior management. The
consultancy agreement precedes all other agreements signed between Clenergen
Corporation and the consultant which are null and void.

     

    3.3                      Lockup
Agreement.   The Contractor and the Company hereby
acknowledge the execution of a Lockup Agreement that shall serve as the terms
and conditions by which the Contractor will manage said Compensation
Shares.

     

    3.4                      Voting of Compensation
Shares.  The Contractor covenants and agrees that, with respect
to the Compensation Shares that it receives, it shall, at all times that it is
the beneficial owner of such shares, vote such shares on all matters coming
before it as a stockholder of the Company in the same manner as the majority of
the board of directors of the Company shall recommend.

     

    3.5                      Information.  Subject
to the terms of this Agreement, including without limitation Article 5 hereof, and provided that the Contractor
agrees that it will not disclose any material non-public information to any
person or entity, the Company shall make available to the Contractor such
information and data and shall permit the Contractor to have access to such
documents as are reasonably necessary to enable it to perform the Services under
this Agreement.  The Company also agrees that it will act reasonably
and promptly in reviewing materials submitted to it from time to time by the
Contractor and inform the Contractor of any material inaccuracies or omissions
in such materials.

     

    ARTICLE 4

    DURATION,
TERMINATION AND DEFAULT

     

    4.1                      Effective
Date.  This Agreement shall become effective as of the date
written above (the “Effective Date”), and shall continue for a period of twelve
months (the “Term”) or until earlier terminated pursuant to the terms of this
Agreement.

     

    4.2                      Termination.  Without
prejudicing any other rights that the Company may have hereunder or at law or in
equity, the Company may terminate this Agreement immediately upon delivery of
written notice to the Contractor if:

     

    
      	
               
      

            	
              (a)

            	
              The
      Contractor breaches section 2.1 of this
      Agreement;

            

    

     

    
      	
               
      

            	
              (b)

            	
              the
      Contractor breaches any other material term of this Agreement and such
      breach is not cured to the reasonable satisfaction of the Company within
      thirty (30) days after written notice describing the breach in reasonable
      detail is delivered to the
Contractor;

            

    

     

    
      	
               
      

            	
              (c)

            	
              the
      Company acting reasonably determines that the Contractor has acted, is
      acting or is likely to act in a manner detrimental to the Company or has
      violated or is likely to violate the confidentiality of any information as
      provided for in this Agreement;

            

    

     

    
      	
               
      

            	
              (d)

            	
              the
      Contractor is unable or unwilling to perform the Services under this
      Agreement, or

            

    

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

     

    
      	
               
      

            	
              (e)

            	
              the
      Contractor commits fraud, serious neglect or misconduct in the discharge
      of the Services.

            

    

     

    4.3                      Duties Upon
Termination.  Upon termination of this Agreement for any
reason, the Contractor shall upon receipt of all sums due and owing, promptly
deliver the following in accordance with the directions of the
Company:

     

    
      	
               
      

            	
              (a)

            	
              a
      final accounting, reflecting the balance of expenses incurred on behalf of
      the Company as of the date of termination;
and

            

    

     

    
      	
               
      

            	
              (b)

            	
              all
      documents pertaining to the Company or this Agreement, including but not
      limited to, all books of account, correspondence and contracts, provided
      that the Contractor shall be entitled thereafter to inspect, examine and
      copy all of the documents which it delivers in accordance with this
      provision at all reasonable times upon three (3) days’ notice to the
      Company.

            

    

     

    4.4                      Compensation of Contractor
on Termination.  Upon termination of this Agreement, the
Contractor shall be entitled to receive as its full and sole compensation in
discharge of obligations of the Company to the Contractor under this Agreement
all sums due and payable under this Agreement to the date of termination and the
Contractor shall have no right to receive any further payments; provided,
however, that the Company shall have the right to offset against any payment
owing to the Contractor under this Agreement any damages, liabilities, costs or
expenses suffered by the Company by reason of the fraud, negligence or wilful
act of the Contractor, to the extent such right has not been waived by the
Company.

     

    ARTICLE 5

    CONFIDENTIALITY
AND NON-COMPETITION

     

    5.1                      Maintenance of Confidential
Information.  The Contractor acknowledges that in the course of
its appointment hereunder the Contractor will, either directly or indirectly,
have access to and be entrusted with information (whether oral, written or by
inspection) relating to the Company or its respective affiliates, associates or
customers (the “Confidential Information”).  For the purposes of this
Agreement, “Confidential Information” includes, without limitation, any and all
Developments (as defined herein), trade secrets, inventions, innovations,
techniques, processes, formulas, drawings, designs, products, systems,
creations, improvements, documentation, data, specifications, technical reports,
customer lists, supplier lists, distributor lists, distribution channels and
methods, retailer lists, reseller lists, employee information, financial
information, sales or marketing plans, competitive analysis reports and any
other thing or information whatsoever, whether copyrightable or uncopyrightable
or patentable or unpatentable.  The Contractor acknowledges that the
Confidential Information constitutes a proprietary right, which the Company is
entitled to protect.  Accordingly the Contractor covenants and agrees
that during the Term and thereafter until such time as all the Confidential
Information becomes publicly known and made generally available through no
action or inaction of the Contractor, the Contractor will keep in strict
confidence the Confidential Information and shall not, without prior written
consent of the Company in each instance, disclose, use or otherwise disseminate
the Confidential Information, directly or indirectly, to any third
party.

     

    5.2                      Exceptions. The
general prohibition contained in Section 5.1 against
the unauthorized disclosure, use or dissemination of the Confidential
Information shall not apply in respect of any Confidential Information
that:

     

    
      	
               
      

            	
              (a)

            	
              is
      available to the public generally in the form
  disclosed;

            

    

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

     

    
      	
               
      

            	
              (b)

            	
              becomes
      part of the public domain through no fault of the
    Contractor;

            

    

     

    
      	
               
      

            	
              (c)

            	
              is
      already in the lawful possession of the Contractor at the time of receipt
      of the Confidential Information; or

            

    

     

    
      	
               
      

            	
              (d)

            	
              is
      compelled by applicable law to be disclosed, provided that the Contractor
      gives the Company prompt written notice of such requirement prior to such
      disclosure and provides assistance in obtaining an order protecting the
      Confidential Information from public
disclosure.

            

    

     

    5.3                      Developments.  Any
information, data, work product or any other thing or documentation whatsoever
which the Contractor, either by itself or in conjunction with any third party,
conceives, makes, develops, acquires or acquires knowledge of during the
Contractor’s appointment with the Company or which the Contractor, either by
itself or in conjunction with any third party, shall conceive, make, develop,
acquire or acquire knowledge of (collectively the “Developments”) during the
Term or at any time thereafter during which the Contractor is engaged by the
Company that is related to the business of the Company shall automatically form
part of the Confidential Information and shall become and remain the sole and
exclusive property of the Company.  Accordingly, the Contractor does
hereby irrevocably, exclusively and absolutely assign, transfer and convey to
the Company in perpetuity all worldwide right, title and interest in and to any
and all Developments and other rights of whatsoever nature and kind in or
arising from or pertaining to all such Developments created or produced by the
Contractor during the course of performing this Agreement, including, without
limitation, the right to effect any registration in the world to protect the
foregoing rights.  The Company shall have the sole, absolute and
unlimited right throughout the world, therefore, to protect the Developments by
patent, copyright, industrial design, trademark or otherwise and to make, have
made, use, reconstruct, repair, modify, reproduce, publish, distribute and sell
the Developments, in whole or in part, or combine the Developments with any
other matter, or not use the Developments at all, as the Company sees
fit.

     

    5.4                      Protection of
Developments.  The Contractor does hereby agree that, both
before and after the termination of this Agreement, the Contractor shall perform
such further acts and execute and deliver such further instruments, writings,
documents and assurances (including, without limitation, specific assignments
and other documentation which may be required anywhere in the world to register
evidence of ownership of the rights assigned pursuant hereto) as the Company
shall reasonably require in order to give full effect to the true intent and
purpose of the assignment made under Section 5.3
hereof.  If the Company is for any reason unable, after reasonable
effort, to secure execution by the Contractor on documents needed to effect any
registration or to apply for or prosecute any right or protection relating to
the Developments, the Contractor hereby designates and appoints the Company and
its duly authorized officers and agents as the Contractor’s agent and attorney
to act for and in the Contractor’s behalf and stead to execute and file any such
document and do all other lawfully permitted acts necessary or advisable in the
opinion of the Company to effect such registration or to apply for or prosecute
such right or protection, with the same legal force and effect as if executed by
the Contractor.

     

    5.5                      Remedies.  The
parties to this Agreement recognize that any violation or threatened violation
by the Contractor of any of the provisions contained in this Article 5 will result in immediate and irreparable
damage to the Company and that the Company could not adequately be compensated
for such damage by monetary award alone.  Accordingly, the Contractor
agrees that in the event of any such violation or threatened violation, the
Company shall, in addition to any other remedies available to the Company at law
or in equity, be entitled as a matter of right to apply to such relief by way of
restraining order, temporary or permanent injunction and to such other relief as
any court of competent jurisdiction may deem just and proper.

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

     

    5.6                      Reasonable
Restrictions.  The Contractor agrees that all restrictions in
this Article 5 are reasonable and valid, and
all defenses to the strict enforcement thereof by the Company are hereby waived
by the Contractor.

     

    ARTICLE 6

    DEVOTION
TO CONTRACT

     

    6.1                      Devotion to
Contract.  During the term of this Agreement, the Contractor
shall devote sufficient time, attention, and ability to the business of the
Company, and to any associated company, as is reasonably necessary for the
proper performance of the Services pursuant to this
Agreement.  Nothing contained herein shall be deemed to require the
Contractor to devote its exclusive time, attention and ability to the business
of the Company.  During the term of this Agreement, the Contractor
shall, and shall cause each of its agents assigned to performance of the
Services on behalf of the Contractor, to:

     

    
      	
               
      

            	
              (a)

            	
              at
      all times perform the Services faithfully, diligently, to the best of its
      abilities and in the best interests of the
  Company;

            

    

     

    
      	
               
      

            	
              (b)

            	
              devote
      such of its time, labour and attention to the business of the Company as
      is necessary for the proper performance of the Services hereunder;
      and

            

    

     

    
      	
               
      

            	
              (c)

            	
              refrain
      from acting in any manner contrary to the best interests of the Company or
      contrary to the duties of the Contractor as contemplated
      herein.

            

    

     

    6.2                      Other
Activities.  The Contractor shall not be precluded from acting
in a function similar to that contemplated under this Agreement for any other
person, firm or company.

     

    ARTICLE 7

    PRIVATE
PLACEMENT OF COMPENSATION SHARES

     

    7.1                      Documents Required from
Contractor.  The Contractor shall complete, sign and return to
the Company as soon as possible, on request by the Company, such additional
documents, notices and undertakings as may be required by regulatory authorities
and applicable law.

     

    7.2                      Acknowledgements of
Contractor  The Contractor acknowledges and agrees
that:

     

    
      	
               
      

            	
              (a)

            	
              the
      Contractor agrees and acknowledges that none of the Compensation Shares
      have been registered under the Securities Act of 1933 or under any state
      securities or "blue sky" laws of any state of the United States, and,
      unless so registered, may not be offered or sold in the United States or,
      directly or indirectly, to U.S. Persons (as that term is defined in
      Regulation S under the Securities Act of 1933), except in accordance with
      the provisions of Regulation S, pursuant to an effective registration
      statement under the Securities Act of 1933, or pursuant to an exemption
      from, or in a transaction not subject to, the registration requirements of
      the Securities Act of 1933 and in each case only in accordance with
      applicable state securities laws.

            

    

     

    
      	
               
      

            	
              (b)

            	
              the
      Contractor has not acquired the Compensation Shares as a result of, and
      will not itself engage in, any “directed selling efforts” (as defined in
      Regulation S under the 1933 Act) in the United States in respect of any of
      the Securities which would include any activities undertaken for the
      purpose of, or that could reasonably be expected to have the effect of,
      conditioning the market in the United States for the resale of any of the
      Compensation Shares; provided, however, that the Contractor may sell or
      otherwise dispose of any of the Compensation Shares pursuant to
      registration thereof under the 1933 Act and any applicable state
      securities laws or under an exemption from such registration
      requirements;

            

    

     

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

     

    
      	
               
      

            	
              (c)

            	
              the
      Contractor is acquiring the Compensation Shares pursuant to an exemption
      (the “Exemption”) from the registration and prospectus requirements of the
      applicable Canadian securities laws and regulations (the “Legislation”) in
      all Canadian jurisdictions relevant to the issuance, and, as a
      consequence, the Contractor will not be entitled to use most of the civil
      remedies available under such Legislation, including statutory rights of
      rescission and damages;

            

    

     

    
      	
               
      

            	
              (d)

            	
              the
      Exemption is premised on the basis that the undersigned does not require
      the protection of the Legislation by virtue of the Contractor’s current
      involvement in the Company as a “consultant”, as defined in National
      Instrument 45-106 (“NI 45-106”);

            

    

     

    
      	
               
      

            	
              (e)

            	
              the
      Compensation Shares will be subject in the United States to a hold period
      from the date of issuance of the Compensation Shares unless such
      Compensation Shares are registered with the Securities and Exchange
      Commission (“SEC”);

            

    

     

    
      	
               
      

            	
              (f)

            	
              the
      decision to execute this Agreement and purchase the Compensation Shares
      agreed to be purchased hereunder has not been based upon any oral or
      written representation as to fact or otherwise made by or on behalf of the
      Company other than those made by the Company in the information the
      Company has filed with the SEC;

            

    

     

    
      	
               
      

            	
              (g)

            	
              it
      will indemnify and hold harmless the Company and, where applicable, its
      directors, officers, employees, agents, advisors and shareholders from and
      against any and all loss, liability, claim, damage and expense whatsoever
      (including, but not limited to, any and all fees, costs and expenses
      whatsoever reasonably incurred in investigating, preparing or defending
      against any claim, lawsuit, administrative proceeding or investigation
      whether commenced or threatened) arising out of or based upon any
      representation or warranty of the Contractor contained herein or in any
      document furnished by the Contractor to the Company in connection herewith
      being untrue in any material respect or any breach or failure by the
      Contractor to comply with any covenant or agreement made by the Contractor
      to the Company in connection
therewith;

            

    

     

    
      	
               
      

            	
              (h)

            	
              the
      issuance and sale of the Compensation Shares to the Contractor will not be
      completed if it would be unlawful;

            

    

     

    
      	
               
      

            	
              (i)

            	
              the
      Compensation Shares are not listed on any stock exchange or subject to
      quotation and no representation has been made to the Contractor that the
      Compensation Shares will become listed on any other stock exchange or
      subject to quotation on any other quotation system except that market
      makers are currently making markets in the Company’s common stock on the
      OTC Bulletin Board;

            

    

     

    
      	
               
      

            	
              (j)

            	
              no
      securities commission or similar regulatory authority has reviewed or
      passed on the merits of the Compensation
Shares;

            

    

     

    
      	
               
      

            	
              (k)

            	
              there
      is no government or other insurance covering the Compensation
      Shares;

            

    

     

    
      	
               
      

            	
              (l)

            	
              there
      are risks associated with an investment in the Compensation Shares,
      including the risk that the Contractor could lose all of its
      investment;

            

    

     

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

     

    
      	
               
      

            	
              (m)

            	
              the
      Contractor and the Contractor’s advisor(s) have had a reasonable
      opportunity to ask questions of and receive answers from the Company in
      connection with the distribution of the Compensation Shares hereunder, and
      to obtain additional information, to the extent possessed or obtainable
      without unreasonable effort or expense, necessary to verify the accuracy
      of the information about the
Company;

            

    

     

    
      	
               
      

            	
              (n)

            	
              the
      books and records of the Company were available upon reasonable notice for
      inspection, subject to certain confidentiality restrictions, by the
      Contractor during reasonable business hours at its principal place of
      business, and all documents, records and books in connection with the
      distribution of the Compensation Shares hereunder have been made available
      for inspection by the Contractor, the Contractor’s lawyer and/or
      advisor(s);

            

    

     

    
      	
               
      

            	
              (o)

            	
              the
      Company will refuse to register any transfer of the Compensation Shares
      not made in accordance with the provisions of Regulation S, pursuant to an
      effective registration statement under the 1933 Act or pursuant to an
      available exemption from the registration requirements of the 1933
      Act;

            

    

     

    
      	
               
      

            	
              (p)

            	
              the
      statutory and regulatory basis for the exemption claimed for the offer of
      the Compensation Shares, although in technical compliance with Regulation
      S, would not be available if the offering is part of a plan or scheme to
      evade the registration provisions of the 1933 Act;
  and

            

    

     

    
      	
               
      

            	
              (q)

            	
              the
      Contractor has been advised to consult the Contractor’s own legal, tax and
      other advisors with respect to the merits and risks of an investment in
      the Compensation Shares and with respect to applicable resale
      restrictions, and it is solely responsible (and the Company is not in any
      way responsible) for compliance
with:

            

    

     

    
      	
               
      

            	
              (i)

            	
              any
      applicable laws of the jurisdiction in which the Contractor is resident in
      connection with the distribution of the Compensation Shares hereunder,
      and

            

    

     

    
      	
               
      

            	
              (ii)

            	
              applicable
      resale restrictions.

            

    

     

    7.3                      Representations, Warranties
and Covenants of the Contractor.  The Contractor hereby
represents and warrants to and covenants with the Company (which
representations, warranties and covenants shall survive the end of the expiry of
the Term or early termination of this Agreement) that:

     

    
      	
               
      

            	
              (a)

            	
              the
      Contractor is not a U.S. Person and is a resident and/or incorprated in
      the country indicated on the first page of this
  Agreement;

            

    

     

    
      	
               
      

            	
              (b)

            	
              the
      Contractor is not acquiring the Compensation Shares for the account or
      benefit of, directly or indirectly, any U.S.
  Person;

            

    

     

    
      	
               
      

            	
              (c)

            	
              the
      sale of the Compensation Shares to the Contractor as contemplated in this
      Agreement complies with or is exempt from the applicable securities
      legislation of the jurisdiction of residence of the
      Contractor;

            

    

     

    
      	
               
      

            	
              (d)

            	
              the
      Contractor is acquiring the Compensation Shares for investment only and
      not with a view to resale or distribution and, in particular, it has no
      intention to distribute either directly or indirectly any of the
      Compensation Shares in the United States or to U.S.
    Persons;

            

    

     

    
      
        
        

      

      
        8

        
          

        

      

      
        
        

      

    

     

    
      	
               
      

            	
              (e)

            	
              the
      Contractor is outside the United States when receiving and executing this
      Agreement and is acquiring the Compensation Shares as principal for the
      Contractor’s own account, for investment purposes only, and not with a
      view to, or for, resale, distribution or fractionalisation thereof, in
      whole or in part, and no other person has a direct or indirect beneficial
      interest in such Compensation
Shares;

            

    

     

    
      	
               
      

            	
              (f)

            	
              the
      entering into of this Agreement and the transactions contemplated hereby
      have been duly authorized by all necessary corporate action on the part of
      the Contractor;

            

    

     

    
      	
               
      

            	
              (g)

            	
              the
      entering into of this Agreement and the transactions contemplated thereby
      will not result in the violation of any of the terms and provisions of any
      law applicable to the Contractor, or of any agreement, written or oral, to
      which the Contractor may be a party or by which the Contractor is or may
      be bound;

            

    

     

    
      	
               
      

            	
              (h)

            	
              the
      Contractor has duly executed and delivered this Agreement and it
      constitutes a valid and binding agreement of the Contractor enforceable
      against the Contractor in accordance with its
  terms;

            

    

     

    
      	
               
      

            	
              (i)

            	
              the
      Contractor has the requisite knowledge and experience in financial and
      business matters as to be capable of evaluating the merits and risks of
      the prospective investment in the Compensation Shares and the
      Company;

            

    

     

    
      	
               
      

            	
              (j)

            	
              the
      Contractor is not an underwriter of, or dealer in, the common shares of
      the Company, nor is the Contractor participating, pursuant to a
      contractual agreement or otherwise, in the distribution of the
      Compensation Shares;

            

    

     

    
      	
               
      

            	
              (k)

            	
              the
      Contractor is not aware of any advertisement of pertaining to the Company
      or any of the Compensation Shares;
and

            

    

     

    
      	
               
      

            	
              (l)

            	
              no
      person has made to the Contractor any written or oral
      representations:

            

    

     

    
      	
               
      

            	
              (i)

            	
              that
      any person will resell or repurchase any of the Compensation
      Shares;

            

    

     

    
      	
               
      

            	
              (ii)

            	
              that
      any person will refund the purchase price of any of the Compensation
      Shares;

            

    

     

    
      	
               
      

            	
              (iii)

            	
              as
      to the future price or value of any of the Compensation Shares;
      or

            

    

     

    
      	
               
      

            	
              (iv)

            	
              that
      any of the Compensation Shares will be listed and posted for trading on
      any stock exchange or automated dealer quotation system or that
      application has been made to list and post any of the Compensation Shares
      of the Company on any stock exchange or automated dealer quotation system,
      except that currently certain market makers make market in the common
      shares of the Company on the OTC Bulletin
Board.

            

    

     

    7.4                      Legending of Compensation
Shares.  The Contractor hereby acknowledges that upon the
issuance thereof, and until such time as the same is no longer required under
the applicable securities laws and regulations, the certificates representing
any of the Compensation Shares will bear a legend in substantially the following
form:

     

    
      
        
        

      

      
        9

        
          

        

      

      
        
        

      

    

     

    THE
SECURITIES REPRESENTED HEREBY HAVE BEEN OFFERED IN AN OFFSHORE TRANSACTION TO A
PERSON WHO IS NOT A U.S. PERSON (AS DEFINED HEREIN) PURSUANT TO REGULATION S
UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE "1933
ACT").

     

    NONE
OF THE SECURITIES REPRESENTED HEREBY HAVE BEEN REGISTERED UNDER THE 1933 ACT, OR
ANY U.S. STATE SECURITIES LAWS, AND, UNLESS SO REGISTERED, MAY NOT BE OFFERED OR
SOLD, DIRECTLY OR INDIRECTLY, IN THE UNITED STATES (AS DEFINED HEREIN) OR TO
U.S. PERSONS EXCEPT IN ACCORDANCE WITH THE PROVISIONS OF REGULATION S UNDER THE
1933 ACT, PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE 1933 ACT, OR
PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE
REGISTRATION REQUIREMENTS OF THE 1933 ACT AND IN EACH CASE ONLY IN ACCORDANCE
WITH APPLICABLE STATE SECURITIES LAWS.  IN ADDITION, HEDGING
TRANSACTIONS INVOLVING THE SECURITIES MAY NOT BE CONDUCTED UNLESS IN COMPLIANCE
WITH THE 1933 ACT.  "UNITED STATES" AND "U.S. PERSON" ARE AS DEFINED
BY REGULATION S UNDER THE 1933 ACT.

     

     

    7.5                      The
Contractor hereby acknowledges and agrees to the Company making a notation on
its records or giving instructions to the registrar and transfer agent of the
Company in order to implement the restrictions on transfer set forth and
described in this Agreement.

     

    ARTICLE 8

    MISCELLANEOUS

     

    8.1                      Notices.  All
notices required or allowed to be given under this Agreement shall be made
either personally by delivery to or by facsimile transmission to the address as
hereinafter set forth or to such other address as may be designated from time to
time by such party in writing:

     

    
      	
               
      

            	
              (a)

            	
              in
      the case of the Company, to:

            

    

     

    Clenergen
Corporation

    5379
Lyons Road        

    Suite
301                  

    Coconut
Creek,
FL.33073                 

    USA

     

    Attention:  Mark
Quinn

     

    
      	
               
      

            	
              (b)

            	
              and
      in the case of the Contractor to:

            

    

    
       

      Sanilkumar
Madhavikutty Bhaskaran Nair

      #440-1.
Sruthi, Vara 291

      Vattiyoorkavu-PO

      Trivandrum,
Kerala 695013 India

    

    

    
      
        
        

      

      
        10

        
          

        

      

      
        
        

      

    

     

    8.2                      Independent Legal
Advice.  The Contractor acknowledges that:

     

    
      	
               
      

            	
              (a)

            	
              this Agreement was
      prepared by the W.L. Macdonald Law Corporation for the
      Company;

            

    

     

    
      	
               
      

            	
              (b)

            	
              W.L.
      Macdonald Law Corporation received instructions from the Company and does
      not represent the Contractor in regards to this
  Agreement;

            

    

     

    
      	
               
      

            	
              (c)

            	
              the
      Contractor has been requested to obtain its own independent legal advice
      on this Agreement prior to signing this
  Agreement;

            

    

     

    
      	
               
      

            	
              (d)

            	
              the
      Contractor has been given adequate time to obtain independent legal
      advice;

            

    

     

    
      	
               
      

            	
              (e)

            	
              by
      signing this Agreement, the Company confirms that he fully understands
      this Agreement; and

            

    

     

    
      	
               
      

            	
              (f)

            	
              by signing this Agreement without
      first obtaining independent legal advice, the Contractor waives its right
      to obtain independent legal
advice.

            

    

     

    8.3                      Change of
Address.  Any party may, from time to time, change its address
for service hereunder by written notice to the other party in the manner
aforesaid.

     

    8.4                      Entire
Agreement.  As of from the date hereof, any and all previous
agreements, written or oral between the parties hereto or on their behalf
relating to the appointment of the Contractor by the Company are null and
void.  The parties hereto agree that they have expressed herein their
entire understanding and agreement concerning the subject matter of this
Agreement and it is expressly agreed that no implied covenant, condition, term
or reservation or prior representation or warranty shall be read into this
Agreement relating to or concerning the subject matter hereof or any matter or
operation provided for herein.

     

    8.5                      Further
Assurances.  Each party hereto will promptly and duly execute
and deliver to the other party such further documents and assurances and take
such further action as such other party may from time to time reasonably request
in order to more effectively carry out the intent and purpose of this Agreement
and to establish and protect the rights and remedies created or intended to be
created hereby.

     

    8.6                      Waiver.  No
provision hereof shall be deemed waived and no breach excused, unless such
waiver or consent excusing the breach is made in writing and signed by the party
to be charged with such waiver or consent.  A waiver by a party of any
provision of this Agreement shall not be construed as a waiver of a further
breach of the same provision.

     

    8.7                      Amendments in
Writing.  No amendment, modification or rescission of this
Agreement shall be effective unless set forth in writing and signed by the
parties hereto.

     

    8.8                      Assignment.  Except
as herein expressly provided, the respective rights and obligations of the
Contractor and the Company under this Agreement shall not be assignable by
either party without the written consent of the other party and shall, subject
to the foregoing, enure to the benefit of and be binding upon the Contractor and
the Company and their permitted successors or assigns.  Nothing herein
expressed or implied is intended to confer on any person other than the parties
hereto any rights, remedies, obligations or liabilities under or by reason of
this Agreement.

     

    
      
        
        

      

      
        11

        
          

        

      

      
        
        

      

    

     

    8.9                      Severability.  In
the event that any provision contained in this Agreement shall be declared
invalid, illegal or unenforceable by a court or other lawful authority of
competent jurisdiction, such provision shall be deemed not to affect or impair
the validity or enforceability of any other provision of this Agreement, which
shall continue to have full force and effect.

     

    8.10                      Headings.  The
headings in this Agreement are inserted for convenience of reference only and
shall not affect the construction or interpretation of this
Agreement.

     

    8.11                      Number and
Gender.  Wherever the singular or masculine or neuter is used
in this Agreement, the same shall be construed as meaning the plural or feminine
or a body politic or corporate and vice versa where the context so
requires.

     

    8.12                      Time.  Time
shall be of the essence of this Agreement. In the event that any day on or
before which any action is required to be taken hereunder is not a business day,
then such action shall be required to be taken at or before the requisite time
on the next succeeding day that is a business day.  For the purposes
of this Agreement, “business day” means a day which is not Saturday or Sunday or
a statutory holiday in Reno, Nevada, U.S.A.

     

    8.13                      Enurement.  This
Agreement is intended to bind and enure to the benefit of the Company, its
successors and assigns, and the Contractor and the personal legal
representatives of the Contractor.

     

    8.14                      Counterparts.  This
Agreement may be executed in several counterparts, each of which will be deemed
to be an original and all of which will together constitute one and the same
instrument.

     

    8.15                      Currency.  Unless
otherwise provided, all dollar amounts referred to in this Agreement are in
lawful money of the United States of America.

     

    8.16                      Electronic
Means.  Delivery of an executed copy of this Agreement by
electronic facsimile transmission or other means of electronic communication
capable of producing a printed copy will be deemed to be execution and delivery
of this Agreement as of the effective date of this Agreement.

     

    8.17                      Proper
Law.  This Agreement will be governed by and construed in
accordance with the law of the State of Nevada.  The parties hereby
attorn to the jurisdiction of the Courts in the State of Nevada.

     

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

     

    
      
        	

                CLENERGEN
      CORPRATION

              	 	 	 	 
	 	 	 	 	 	 
	 	 	 	 	 	 
	Per: 	
                /s/
      Mark Quinn

              	 	 	
              	 
	 	
                Mark Quinn,
      CEO

              	 	 	
              	 
	 	 	 	 	 	 
	

                /s/ Sanilkumar Madhavikutty
      Bhashran Nair

              	 	 	 	 
	

                 Sanilkumar
      Madhavikutty Bhasharan Nair

              	 	 	 	 
	

                               Non
      Executive Director

              	 	 	 	 

      

    

    
    

    
      
        
        

      

      
        12

        
          

        

      

      
        
        

      

    

     

    
      SCHEDULE A

    

     

    Pursuant
to the Consulting Agreement, the Contractor will perform the following
services:

     

    
      	
               
      

            	
              ·

            	
              Strategy:
      Non-Executive Directors should constructively challenge and contribute to
      the development of strategy.

            

    

    
      	
               
      

            	
              ·

            	
              Performance:
      Non-Executive Directors should scrutinize the performance of management in
      meeting agreed goals and objectives and monitor the reporting of
      performance.

            

    

    
      	
               
      

            	
              ·

            	
              Risk:
      Non-executive Directors should satisfy themselves that financial
      information is accurate and that financial controls and systems of risk
      management are robust and
defensible.

            

    

    
      	
               
      

            	
              ·

            	
              People:
      Non-executive Directors are responsible for determining appropriate levels
      of remuneration of executive directors and have a prime role in
      appointing, and where necessary removing, senior management and in
      succession planning

            

    

    
      	
               
      

            	
              ·

            	
              Provides
      entrepreneurial leadership of the Company within a framework of prudent
      and effective controls which enable risk to be assessed and
      managed.

            

    

    
      	
               
      

            	
              ·

            	
              Set
      the Company’s strategic aims, ensures that the necessary financial and
      human resources are in place for the Company to meet its objectives, and
      reviews management performance.

            

    

    
      	
               
      

            	
              ·

            	
              Set
      the Company’s values and standards and ensures that its obligations to its
      shareholders and others are understood and
met.

            

    

    
      	
               
      

            	
              ·

            	
              Serve
      on one or more of the Board committees including Audit, Nomination and
      Remuneration Committees and set out the terms of reference for each of
      those committees.

            

    

     

    
      
        
        

      

      
        13

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