Document:

Exhibit 10.5

 

 

FIRST AMENDMENT TO

STOCK OPTION AGREEMENT

            This
First Amendment to Stock Option Agreement (the "First Amendment")
is dated as of December 20, 2004, by and between Home Solutions of America,
Inc., a Delaware corporation (the "Company"), and Rick J. O'Brien
(the "Optionee").

            WHEREAS,
the Company and the Optionee entered into that certain Stock Option Agreement
dated July 31, 2003 (the "Agreement"), whereby the Optionee was
granted stock options under the Company's 2001 Stock Plan;

            WHEREAS,
the Optionee and the Company desire to amend the Agreement as set forth herein,
in order to modify the exercise prices of certain stock options of the Company
that were granted to the Optionee in the Agreement;

            NOW
THEREFORE, the parties hereto agree as follows:

            1.         The
line entitled "Exercise Price per Share                   $2.00" on the first
page of the Agreement is hereby deleted and replaced in its entirety with the
following language:

"Exercise Price
per Share         First 83,333 Shares Purchased under Option- $1.50

                                                           Next
83,333 Shares Purchased under Option- $1.75

                                                           Next 83,334 Shares
Purchased under Option- $2.00"

            2.         The
line entitled "Total Exercise Price                $500,000" on the first page of the Agreement is hereby deleted
and replaced in its entirety with the following language:

"Total
Exercise Price                $437,500"

            3.
        Except as expressly amended hereby, the Agreement remains in full force
and effect.  Capitalized terms that are not defined herein shall have the same
meaning assigned to them in the Agreement.

[Remainder of page intentionally left blank.]

 

 

 

 

 

            IN WITNESS WHEREOF, the parties hereto have
caused this Amendment to be executed and delivered as of the date first above
written.

            This
First Amendment to Stock Option Agreement may be executed in one or more
identical counterparts, including by facsimile signature, each of which shall
be deemed to be an original and all of which together shall be deemed to be one
instrument.

COMPANY:

HOME SOLUTIONS
OF AMERICA, INC.

By:
______________________________________  

        Frank
J. Fradella

        President
and Chief Executive Officer

 

 

OPTIONEE:

__________________________________________

Rick J. O'BrienExhibit 10-6

 

 

FIRST AMENDMENT TO

STOCK OPTION AGREEMENT

            This
First Amendment to Stock Option Agreement (the "First Amendment")
is dated as of December 20, 2004, by and between Home Solutions of America,
Inc., a Delaware corporation (the "Company"), and Rick J. O'Brien
(the "Optionee").

            WHEREAS,
the Company and the Optionee entered into that certain Stock Option Agreement
dated December 2, 2003 (the "Agreement"), whereby the Optionee was
granted stock options under the Company's 1998 Stock Option Plan;

            WHEREAS,
the Optionee and the Company desire to amend the Agreement as set forth herein,
in order to modify the exercise prices of certain stock options of the Company
that were granted to the Optionee in the Agreement;

            NOW
THEREFORE, the parties hereto agree as follows:

            1.         The
line entitled "Exercise Price per Share                   $2.00" on the first
page of the Agreement is hereby deleted and replaced in its entirety with the
following language:

"Exercise Price
per Share         First 83,333 Shares Purchased under Option- $1.50

                                                           Next
83,333 Shares Purchased under Option- $1.75

                                                           Next 83,334 Shares
Purchased under Option- $2.00"

            2.         The
line entitled "Total Exercise Price                $500,000" on the first page of the Agreement is hereby deleted
and replaced in its entirety with the following language:

"Total
Exercise Price                $437,500"

            3.
        Except as expressly amended hereby, the Agreement remains in full force
and effect.  Capitalized terms that are not defined herein shall have the same
meaning assigned to them in the Agreement.

[Remainder of page intentionally left blank.]

 

 

 

 

 

 

	
   

            IN WITNESS WHEREOF, the parties hereto have
caused this Amendment to be executed and delivered as of the date first above
written.

            This
First Amendment to Stock Option Agreement may be executed in one or more
identical counterparts, including by facsimile signature, each of which shall
be deemed to be an original and all of which together shall be deemed to be one
instrument.

COMPANY:

HOME SOLUTIONS
OF AMERICA, INC.

By:
______________________________________  

      Frank
J. Fradella

       President
and Chief Executive Officer

 

 

OPTIONEE:

__________________________________________

Rick J. O'Brien

 

 

 

 

 

2EXHIBIT 4.1
                               GLOBAL LINKS CORP.
          AMENDED EMPLOYEE STOCK INCENTIVE PLAN FOR THE YEAR 2004 NO. 3

     1.     General  Provisions.
            -------------------

     1.1     Purpose.  This Amended Stock Incentive Plan (the "Amended Plan") is
             -------
intended  to  allow designated officers and employees (all of whom are sometimes
collectively  referred  to  herein  as  the  "Employees," or individually as the
"Employee")  of Global Links Corp., a Nevada corporation (the "Company") and its
Subsidiaries  (as  that  term is defined below) which they may have from time to
time (the Company and such Subsidiaries are referred to herein as the "Company")
to receive certain options (the "Stock Options") to purchase common stock of the
Company,  par value $0.001 per share (the "Common Stock"), and to receive grants
of  the Common Stock subject to certain restrictions (the "Awards").  As used in
this  Amended Plan, the term "Subsidiary" shall mean each corporation which is a
"subsidiary  corporation" of the Company within the meaning of Section 424(f) of
the Internal Revenue Code of 1986, as amended (the "Code").  The purpose of this
Amended Plan is to provide the Employees, who make significant and extraordinary
contributions  to  the  long-term  growth  and  performance of the Company, with
equity-based  compensation  incentives, and to attract and retain the Employees.

     1.2     Administration.
             --------------

     1.2.1     The  Amended  Plan  shall  be  administered  by  the Compensation
Committee  (the  "Committee") of, or appointed by, the Board of Directors of the
Company  (the  "Board").  The  Committee  shall  select  one  of  its members as
Chairman  and  shall  act  by  vote  of  a majority of a quorum, or by unanimous
written  consent.  A  majority  of  its  members shall constitute a quorum.  The
Committee  shall  be  governed  by the provisions of the Company's Bylaws and of
Nevada  law  applicable  to  the  Board,  except as otherwise provided herein or
determined  by  the  Board.

     1.2.2     The  Committee  shall  have  full  and complete authority, in its
discretion,  but  subject  to the express provisions of this Amended Plan (a) to
approve  the  Employees nominated by the management of the Company to be granted
Awards  or Stock Options; (b) to determine the number of Awards or Stock Options
to be granted to an Employee; (c) to determine the time or times at which Awards
or  Stock  Options  shall be granted; to establish the terms and conditions upon
which  Awards  or  Stock  Options  may be exercised; (d) to remove or adjust any
restrictions and conditions upon Awards or Stock Options; (e) to specify, at the
time  of  grant,  provisions  relating to exercisability of Stock Options and to
accelerate  or otherwise modify the exercisability of any Stock Options; and (f)
to  adopt such rules and regulations and to make all other determinations deemed
necessary  or  desirable  for  the  administration  of  this  Amended Plan.  All
interpretations and constructions of this Amended Plan by the Committee, and all
of its actions hereunder, shall be binding and conclusive on all persons for all
purposes.

     1.2.3     The  Company  hereby  agrees  to indemnify and hold harmless each
Committee  member  and each Employee, and the estate and heirs of such Committee
member  or  Employee,  against  all  claims,  liabilities,  expenses, penalties,
damages  or  other  pecuniary losses, including legal fees, which such Committee
member  or  Employee,  his  estate  or  heirs  may  suffer  as  a  result of his
responsibilities, obligations or duties in connection with this Amended Plan, to
the extent that insurance, if any, does not cover the payment of such items.  No
member  of  the  Committee  or  the  Board  shall  be  liable  for any action or
determination  made in good faith with respect to this Amended Plan or any Award
or  Stock  Option  granted  pursuant  to  this  Amended  Plan.

     1.3     Eligibility  and  Participation.  The Employees eligible under this
             -------------------------------
Amended Plan shall be approved by the Committee from those Employees who, in the
opinion  of the management of the Company, are in positions which enable them to
make  significant  contributions  to the long-term performance and growth of the
Company.  In  selecting  the  Employees  to  whom  Award or Stock Options may be
granted,  consideration  shall  be given to factors such as employment position,
duties  and  responsibilities, ability, productivity, length of service, morale,
interest  in  the  Company  and  recommendations  of  supervisors.

     1.4     Shares  Subject to this Amended Plan.  The maximum number of shares
             ------------------------------------
of  the  Common  Stock that may be issued pursuant to this Amended Plan shall be
674,000,000  subject  to adjustment pursuant to the provisions of Paragraph 4.1.
If  shares  of  the  Common  Stock awarded or issued under this Amended Plan are
reacquired  by  the

                                        1
<PAGE>
Company  due  to  a  forfeiture  or  for  any other reason, such shares shall be
cancelled  and  thereafter shall again be available for purposes of this Amended
Plan.  If  a  Stock  Option  expires,  terminates or is cancelled for any reason
without  having  been  exercised  in  full,  the  shares of the Common Stock not
purchased thereunder shall again be available for purposes of this Amended Plan.
In  the event that any outstanding Stock Option or Award under this Amended Plan
for any reason expires or is terminated, the shares of Common Stock allocable to
the  unexercised  portion  of  the  Stock Option or Award shall be available for
issuance  under  the  Amended  Global  Links  Corp.  Non-Employee  Directors and
Consultants  Retainer  Stock  Plan  for  the  Year 2004 No. 3.  The Compensation
Committee  of the Board shall have the authority, in its discretion, to increase
the  number  of  shares  available  for  issuance under this Amended Plan, while
correspondingly decreasing the number of shares available for issuance under the
Amended Global Links Corp. Non-Employee Directors and Consultants Retainer Stock
Plan  for  the  Year  2004  No.  3.

     2.     Provisions  Relating  to  Stock  Options.
            ----------------------------------------

     2.1     Grants  of Stock Options.  The Committee may grant Stock Options in
             ------------------------
such amounts, at such times, and to the Employees nominated by the management of
the  Company  as the Committee, in its discretion, may determine.  Stock Options
granted  under  this  Amended  Plan  shall  constitute "incentive stock options"
within the meaning of Section 422 of the Code, if so designated by the Committee
on  the  date  of  grant.  The Committee shall also have the discretion to grant
Stock  Options  which  do  not  constitute incentive stock options, and any such
Stock  Options  shall be designated non-statutory stock options by the Committee
on  the  date  of  grant.  The aggregate Fair Market Value (determined as of the
time  an  incentive stock option is granted) of the Common Stock with respect to
which incentive stock options are exercisable for the first time by any Employee
during  any  one calendar year (under all plans of the Company and any parent or
subsidiary  of  the  Company)  may not exceed the maximum amount permitted under
Section  422  of the Code (currently, $100,000.00).  Non-statutory stock options
shall  not  be  subject  to  the limitations relating to incentive stock options
contained  in the preceding sentence.  Each Stock Option shall be evidenced by a
written  agreement (the "Option Agreement") in a form approved by the Committee,
which shall be executed on behalf of the Company and by the Employee to whom the
Stock  Option is granted, and which shall be subject to the terms and conditions
of  this  Amended  Plan.  In  the discretion of the Committee, Stock Options may
include  provisions  (which need not be uniform), authorized by the Committee in
its  discretion,  that accelerate an Employee's rights to exercise Stock Options
following  a  "Change in Control," upon termination of the Employee's employment
by  the  Company  without  "Cause" or by the Employee for "Good Reason," as such
terms  are  defined in Paragraph 3.1 hereof.  The holder of a Stock Option shall
not  be  entitled  to  the privileges of stock ownership as to any shares of the
Common  Stock  not  actually  issued  to  such  holder.

     2.2     Purchase  Price.  The  purchase  price  (the  "Exercise  Price") of
             ---------------
shares  of  the  Common Stock subject to each Stock Option (the "Option Shares")
shall  not  be less than 85 percent of the Fair Market Value of the Common Stock
on the date of the grant of the option.  For an Employee holding greater than 10
percent  of the total voting power of all stock of the Company, either Common or
Preferred, the Exercise Price of an incentive stock option shall be at least 110
percent of the Fair Market Value of the Common Stock on the date of the grant of
the  option.  As  used  herein,  "Fair  Market Value" means the mean between the
highest  and  lowest  reported  sales prices of the Common Stock on the New York
Stock  Exchange  Composite Tape or, if not listed on such exchange, on any other
national  securities  exchange  on  which  the  Common Stock is listed or on The
Nasdaq  Stock  Market,  or,  if  not  so listed on any other national securities
exchange  or  The  Nasdaq Stock Market, then the average of the bid price of the
Common  Stock  during  the  last  five  trading  days  on the OTC Bulletin Board
immediately  preceding  the  last  trading day prior to the date with respect to
which  the  Fair  Market  Value is to be determined.  If the Common Stock is not
then  publicly  traded,  then the Fair Market Value of the Common Stock shall be
the  book value of the Company per share as determined on the last day of March,
June,  September,  or  December  in  any  year  closest  to  the  date  when the
determination  is  to  be  made.  For  the  purpose  of  determining  book value
hereunder,  book  value  shall be determined by adding as of the applicable date
called  for  herein  the capital, surplus, and undivided profits of the Company,
and after having deducted any reserves theretofore established; the sum of these
items  shall  be divided by the number of shares of the Common Stock outstanding
as  of  said date, and the quotient thus obtained shall represent the book value
of  each  share  of  the  Common  Stock  of  the  Company.

     2.3     Option Period.  The Stock Option period (the "Term") shall commence
             -------------
on  the  date of grant of the Stock Option and shall be 10 years or such shorter
period  as is determined by the Committee.  Each Stock Option shall provide that
it  is  exercisable over its term in such periodic installments as the Committee
may  determine,  subject to the provisions of Paragraph 2.4.1.  Section 16(b) of
the  Securities  Exchange  Act  of  1934,  as  amended  (the

                                        2
<PAGE>
"Exchange  Act")  exempts persons normally subject to the reporting requirements
of  Section  16(a)  of  the  Exchange  Act  (the "Section 16 Reporting Persons")
pursuant  to  a qualified employee stock option plan from the normal requirement
of  not  selling  until  at least six months and one day from the date the Stock
Option  is  granted.

     2.4     Exercise  of  Options.
             ---------------------

     2.4.1     Each  Stock  Option may be exercised in whole or in part (but not
as  to  fractional  shares) by delivering it for surrender or endorsement to the
Company,  attention  of  the Corporate Secretary, at the principal office of the
Company,  together with payment of the Exercise Price and an executed Notice and
Agreement of Exercise in the form prescribed by Paragraph 2.4.2.  Payment may be
made  (a)  in  cash,  (b)  by  cashier's or certified check, (c) by surrender of
previously owned shares of the Common Stock valued pursuant to Paragraph 2.2 (if
the Committee authorizes payment in stock in its discretion), (d) by withholding
from  the  Option  Shares which would otherwise be issuable upon the exercise of
the Stock Option that number of Option Shares equal to the exercise price of the
Stock  Option,  if  such  withholding  is  authorized  by  the  Committee in its
discretion,  or  (e)  in the discretion of the Committee, by the delivery to the
Company  of the optionee's promissory note secured by the Option Shares, bearing
interest  at  a  rate  sufficient  to  prevent  the imputation of interest under
Sections  483 or 1274 of the Code, and having such other terms and conditions as
may  be  satisfactory  to  the  Committee.  Subject  to  the  provisions of this
Paragraph  2.4  and Paragraph 2.5, the Employee has the right to exercise his or
her  Stock  Options  at the rate of at least 20 percent per year over five years
from  the  date  the  Stock  Option  is  granted.

     2.4.2     Exercise  of  each Stock Option is conditioned upon the agreement
of  the  Employee  to  the terms and conditions of this Amended Plan and of such
Stock  Option  as evidenced by the Employee's execution and delivery of a Notice
and  Agreement  of  Exercise  in a form to be determined by the Committee in its
discretion.  Such Notice and Agreement of Exercise shall set forth the agreement
of  the Employee that (a) no Option Shares will be sold or otherwise distributed
in violation of the Securities Act of 1933, as amended (the "Securities Act") or
any  other  applicable  federal  or state securities laws, (b) each Option Share
certificate  may be imprinted with legends reflecting any applicable federal and
state  securities  law  restrictions  and conditions, (c) the Company may comply
with  said securities law restrictions and issue "stop transfer" instructions to
its  Transfer  Agent  and  Registrar without liability, (d) if the Employee is a
Section  16 Reporting Person, the Employee will furnish to the Company a copy of
each  Form  4  or Form 5 filed by said Employee and will timely file all reports
required  under  federal  securities  laws, and (e) the Employee will report all
sales  of  Option  Shares  to the Company in writing on a form prescribed by the
Company.

     2.4.3     No  Stock  Option  shall  be  exercisable  unless  and  until any
applicable  registration  or  qualification  requirements  of  federal and state
securities  laws,  and  all  other  legal requirements, have been fully complied
with.  At no time shall the total number of securities issuable upon exercise of
all  outstanding  options  under  this  Amended  Plan,  and  the total number of
securities  provided  for  under  any  bonus or similar plan or agreement of the
Company  exceed  a number of securities which is equal to 30 percent of the then
outstanding  securities  of  the  Company,  unless  a  percentage higher than 30
percent  is  approved  by  at  least  two-thirds  of  the outstanding securities
entitled  to  vote.  The  Company  will  use  reasonable efforts to maintain the
effectiveness  of  a  Registration  Statement  under  the Securities Act for the
issuance of Stock Options and shares acquired thereunder, but there may be times
when  no  such Registration Statement will be currently effective.  The exercise
of  Stock  Options may be temporarily suspended without liability to the Company
during  times  when  no  such  Registration Statement is currently effective, or
during  times  when, in the reasonable opinion of the Committee, such suspension
is  necessary  to  preclude  violation  of any requirements of applicable law or
regulatory  bodies  having  jurisdiction  over the Company.  If any Stock Option
would expire for any reason except the end of its term during such a suspension,
then  if  exercise  of such Stock Option is duly tendered before its expiration,
such  Stock  Option  shall  be  exercisable  and exercised (unless the attempted
exercise  is  withdrawn)  as  of the first day after the end of such suspension.
The Company shall have no obligation to file any Registration Statement covering
resales  of  Option  Shares.

     2.5     Continuous  Employment.  Except as provided in Paragraph 2.7 below,
             ----------------------
an Employee may not exercise a Stock Option unless from the date of grant to the
date of exercise the Employee remains continuously in the employ of the Company.
For  purposes  of  this Paragraph 2.5, the period of continuous employment of an
Employee with the Company shall be deemed to include (without extending the term
of the Stock Option) any period during which the Employee is on leave of absence
with  the  consent of the Company, provided that such leave of absence shall not
exceed  three  months and that the Employee returns to the employ of the Company
at  the

                                        3
<PAGE>
expiration  of  such  leave  of absence.  If the Employee fails to return to the
employ of the Company at the expiration of such leave of absence, the Employee's
employment with the Company shall be deemed terminated as of the date such leave
of absence commenced.  The continuous employment of an Employee with the Company
shall also be deemed to include any period during which the Employee is a member
of  the Armed Forces of the United States, provided that the Employee returns to
the  employ  of  the  Company  within  90  days (or such longer period as may be
prescribed  by  law)  from  the  date  the  Employee first becomes entitled to a
discharge  from  military service.  If an Employee does not return to the employ
of  the  Company  within  90 days (or such longer period as may be prescribed by
law)  from  the  date  the  Employee  first becomes entitled to a discharge from
military  service, the Employee's employment with the Company shall be deemed to
have  terminated  as  of  the  date  the  Employee's  military  service  ended.

     2.6     Restrictions  on  Transfer.  Each  Stock  Option granted under this
             --------------------------
Amended  Plan  shall  be  transferable  only  by will or the laws of descent and
distribution.  No  interest  of  any  Employee  under this Amended Plan shall be
subject  to  attachment,  execution,  garnishment,  sequestration,  the  laws of
bankruptcy  or  any other legal or equitable process.  Each Stock Option granted
under  this Amended Plan shall be exercisable during an Employee's lifetime only
by  the  Employee  or  by  the  Employee's  legal  representative.

     2.7     Termination  of  Employment.
             ---------------------------

     2.7.1     Upon  an  Employee's  Retirement,  Disability  (both  terms being
defined  below)  or  death,  (a)  all Stock Options to the extent then presently
exercisable  shall remain in full force and effect and may be exercised pursuant
to  the  provisions thereof, and (b) unless otherwise provided by the Committee,
all  Stock  Options to the extent not then presently exercisable by the Employee
shall  terminate  as of the date of such termination of employment and shall not
be  exercisable  thereafter.  Unless  employment  is  terminated  for  cause, as
defined  by applicable law, the right to exercise in the event of termination of
employment,  to the extent that the optionee is entitled to exercise on the date
the  employment  terminates  as  follows:

          (i)     At  least  six  months  from  the  date  of  termination  if
termination  was  caused  by  death  or  disability.

          (ii)     At  least 30 days from the date of termination if termination
was  caused  by  other  than  death  or  disability.

     2.7.2     Upon  the  termination  of  the employment of an Employee for any
reason other than those specifically set forth in Paragraph 2.7.1, (a) all Stock
Options  to  the  extent then presently exercisable by the Employee shall remain
exercisable  only  for a period of 90 days after the date of such termination of
employment  (except that the 90 day period shall be extended to 12 months if the
Employee  shall die during such 90 day period), and may be exercised pursuant to
the  provisions  thereof,  including  expiration  at  the  end of the fixed term
thereof,  and  (b) unless otherwise provided by the Committee, all Stock Options
to  the extent not then presently exercisable by the Employee shall terminate as
of  the  date  of  such  termination  of employment and shall not be exercisable
thereafter.

     2.7.3     For  purposes  of  this  Amended  Plan:

          (a)     "Retirement"  shall  mean  an  Employee's  retirement from the
employ of the Company on or after the date on which the Employee attains the age
of  65  years;  and

          (b)     "Disability"  shall  mean total and permanent incapacity of an
Employee, due to physical impairment or legally established mental incompetence,
to perform the usual duties of the Employee's employment with the Company, which
disability  shall  be determined (i) on medical evidence by a licensed physician
designated  by  the  Committee, or (ii) on evidence that the Employee has become
entitled  to  receive  primary  benefits as a disabled employee under the Social
Security  Act  in  effect  on  the  date  of  such  disability.

                                        4
<PAGE>
     3.     Provisions  Relating  to  Awards.
            --------------------------------

     3.1     Grant  of  Awards.  Subject to the provisions of this Amended Plan,
             -----------------
the  Committee  shall  have  full and complete authority, in its discretion, but
subject  to  the  express  provisions  of this Amended Plan, to (1) grant Awards
pursuant  to this Amended Plan, (2) determine the number of shares of the Common
Stock  subject  to  each Award (the "Award Shares"), (3) determine the terms and
conditions  (which  need  not  be  identical)  of  each  Award,  including  the
consideration  (if  any) to be paid by the Employee for such Common Stock, which
may,  in  the  Committee's discretion, consist of the delivery of the Employee's
promissory  note  meeting the requirements of Paragraph 2.4.1, (4) establish and
modify  performance  criteria for Awards, and (5) make all of the determinations
necessary  or  advisable  with  respect to Awards under this Amended Plan.  Each
Award  under  this Amended Plan shall consist of a grant of shares of the Common
Stock  subject  to  a  restriction  period  (after  which the restrictions shall
lapse),  which shall be a period commencing on the date the Award is granted and
ending on such date as the Committee shall determine (the "Restriction Period").
The  Committee  may  provide  for the lapse of restrictions in installments, for
acceleration  of  the  lapse  of  restrictions  upon  the  satisfaction  of such
performance  or  other  criteria  or  upon  the occurrence of such events as the
Committee  shall  determine,  and  for  the  early expiration of the Restriction
Period  upon  an  Employee's  death,  Disability  or  Retirement  as  defined in
Paragraph  2.7.3,  or,  following  a  Change  of Control, upon termination of an
Employee's  employment  by  the  Company  without "Cause" or by the Employee for
"Good  Reason," as those terms are defined herein.  For purposes of this Amended
Plan:

     "Change  of  Control"  shall be deemed to occur (a) on the date the Company
first  has  actual  knowledge  that any person (as such term is used in Sections
13(d)  and  14(d)(2)  of  the  Exchange Act) has become the beneficial owner (as
defined  in  Rule  13(d)-3  under  the Exchange Act), directly or indirectly, of
securities of the Company representing 40 percent or more of the combined voting
power  of  the  Company's  then  outstanding  securities, or (b) on the date the
stockholders of the Company approve (i) a merger of the Company with or into any
other  corporation  in  which the Company is not the surviving corporation or in
which  the  Company  survives  as  a  subsidiary  of another corporation, (ii) a
consolidation  of  the  Company with any other corporation, or (iii) the sale or
disposition  of  all  or  substantially all of the Company's assets or a plan of
complete  liquidation.

     "Cause,"  when  used  with reference to termination of the employment of an
Employee  by  the  Company  for  "Cause,"  shall  mean:

               (a)     The  Employee's continuing willful and material breach of
his duties to the Company after he receives a demand from the Chief Executive of
the  Company  specifying  the  manner  in  which he has willfully and materially
breached  such  duties, other than any such failure resulting from Disability of
the  Employee  or  his  resignation  for  "Good  Reason,"  as defined herein; or

               (b)     The  conviction  of  the  Employee  of  a  felony;  or

               (c)     The  Employee's  commission of fraud in the course of his
employment  with  the  Company,  such  as  embezzlement  or  other  material and
intentional  violation  of  law  against  the  Company;  or

               (d)     The  Employee's gross misconduct causing material harm to
the  Company.

     "Good  Reason"  shall  mean  any  one  or  more of the following, occurring
following  or in connection with a Change of Control and within 90 days prior to
the  Employee's resignation, unless the Employee shall have consented thereto in
writing:

               (a)     The  assignment  to  the  Employee of duties inconsistent
with his executive status prior to the Change of Control or a substantive change
in  the  officer  or officers to whom he reports from the officer or officers to
whom  he  reported  immediately  prior  to  the  Change  of  Control;  or

               (b)     The  elimination  or  reassignment  of  a majority of the
duties and responsibilities that were assigned to the Employee immediately prior
to  the  Change  of  Control;  or

                                        5
<PAGE>
               (c)     A  reduction by the Company in the Employee's annual base
salary  as  in  effect  immediately  prior  to  the  Change  of  Control;  or

               (d)     The  Company  requiring the Employee to be based anywhere
outside  a  35-mile radius from his place of employment immediately prior to the
Change  of  Control,  except for required travel on the Company's business to an
extent  substantially consistent with the Employee's business travel obligations
immediately  prior  to  the  Change  of  Control;  or

               (e)     The  failure  of  the  Company  to  grant  the Employee a
performance  bonus  reasonably  equivalent  to the same percentage of salary the
Employee  normally  received  prior  to  the Change of Control, given comparable
performance  by  the  Company  and  the  Employee;  or

               (f)     The  failure  of  the  Company  to  obtain a satisfactory
Assumption  Agreement (as defined in Paragraph 4.13 of this Amended Plan) from a
successor,  or  the  failure  of  such  successor  to  perform  such  Assumption
Agreement.

     3.2     Incentive  Agreements.  Each  Award granted under this Amended Plan
             ---------------------
shall  be  evidenced by a written agreement (an "Incentive Agreement") in a form
approved  by  the Committee and executed by the Company and the Employee to whom
the  Award  is  granted.  Each Incentive Agreement shall be subject to the terms
and  conditions  of this Amended Plan and other such terms and conditions as the
Committee  may  specify.

     3.3     Amendment,  Modification and Waiver of Restrictions.  The Committee
             ---------------------------------------------------
may  modify or amend any Award under this Amended Plan or waive any restrictions
or conditions applicable to the Award; provided, however, that the Committee may
not  undertake  any  such  modifications,  amendments  or  waivers if the effect
thereof  materially increases the benefits to any Employee, or adversely affects
the  rights  of  any  Employee  without  his  consent.

     3.4     Terms and Conditions of Awards.  Upon receipt of an Award of shares
             ------------------------------
of the Common Stock under this Amended Plan, even during the Restriction Period,
an  Employee  shall be the holder of record of the shares and shall have all the
rights  of  a  stockholder with respect to such shares, subject to the terms and
conditions  of  this  Amended  Plan  and  the  Award.

     3.4.1     Except  as otherwise provided in this Paragraph 3.4, no shares of
the  Common  Stock  received  pursuant  to  this  Amended  Plan  shall  be sold,
exchanged,  transferred,  pledged,  hypothecated or otherwise disposed of during
the  Restriction Period applicable to such shares.  Any purported disposition of
such  Common  Stock  in  violation of this Paragraph 3.4 shall be null and void.

     3.4.2     If  an Employee's employment with the Company terminates prior to
the expiration of the Restriction Period for an Award, subject to any provisions
of  the Award with respect to the Employee's death, Disability or Retirement, or
Change  of Control, all shares of the Common Stock subject to the Award shall be
immediately  forfeited  by  the  Employee and reacquired by the Company, and the
Employee  shall  have  no  further  rights  with  respect  to the Award.  In the
discretion  of  the Committee, an Incentive Agreement may provide that, upon the
forfeiture  by  an  Employee  of  Award  Shares,  the Company shall repay to the
Employee the consideration (if any) which the Employee paid for the Award Shares
on  the  grant  of  the Award.  In the discretion of the Committee, an Incentive
Agreement  may also provide that such repayment shall include an interest factor
on  such  consideration  from  the date of the grant of the Award to the date of
such  repayment.

     3.4.3     The  Committee  may require under such terms and conditions as it
deems  appropriate  or  desirable that (a) the certificates for the Common Stock
delivered  under this Amended Plan are to be held in custody by the Company or a
person  or  institution  designated  by the Company until the Restriction Period
expires, (b) such certificates shall bear a legend referring to the restrictions
on  the  Common  Stock pursuant to this Amended Plan, and (c) the Employee shall
have  delivered  to  the Company a stock power endorsed in blank relating to the
Common  Stock.

                                        6
<PAGE>
     4.     Miscellaneous Provisions.
            ------------------------

     4.1    Adjustments  Upon  Change  in  Capitalization.
            ---------------------------------------------

     4.1.1     The  number and class of shares subject to each outstanding Stock
Option,  the Exercise Price thereof (and the total price), the maximum number of
Stock Options that may be granted under this Amended Plan, the minimum number of
shares  as  to  which  a  Stock Option may be exercised at any one time, and the
number  and  class  of  shares  subject  to each outstanding Award, shall not be
proportionately  adjusted in the event of any increase or decrease in the number
of  the  issued  shares  of  the  Common  Stock which results from a split-up or
consolidation  of  shares,  payment of a stock dividend or dividends exceeding a
total of five percent for which the record dates occur in any one fiscal year, a
recapitalization  (other than the conversion of convertible securities according
to  their  terms),  a combination of shares or other like capital adjustment, so
that  (a)  upon  exercise  of  the  Stock Option, the Employee shall receive the
number  and  class  of shares the Employee would have received prior to any such
capital adjustment becoming effective, and (b) upon the lapse of restrictions of
the  Award Shares, the Employee shall receive the number and class of shares the
Employee  would  have  received  prior  to  any such capital adjustment becoming
effective.

     4.1.2     Upon  a  reorganization,  merger  or consolidation of the Company
with  one  or  more  corporations  as  a  result of which the Company is not the
surviving  corporation  or  in  which  the  Company  survives  as a wholly-owned
subsidiary of another corporation, or upon a sale of all or substantially all of
the  property  of  the  Company  to  another  corporation,  or  any  dividend or
distribution  to  stockholders  of more than 10 percent of the Company's assets,
adequate  adjustment  or  other provisions shall be made by the Company or other
party  to  such transaction so that there shall remain and/or be substituted for
the  Option  Shares and Award Shares provided for herein, the shares, securities
or assets which would have been issuable or payable in respect of or in exchange
for  such  Option Shares and Award Shares then remaining, as if the Employee had
been  the  owner  of  such  shares as of the applicable date.  Any securities so
substituted  shall  be  subject  to  similar  successive  adjustments.

     4.2     Withholding Taxes.  The Company shall have the right at the time of
             -----------------
exercise  of  any  Stock  Option,  the  grant  of  an  Award,  or  the  lapse of
restrictions on Award Shares, to make adequate provision for any federal, state,
local  or  foreign  taxes  which it believes are or may be required by law to be
withheld  with  respect  to  such  exercise (the "Tax Liability"), to ensure the
payment  of  any such Tax Liability.  The Company may provide for the payment of
any  Tax Liability by any of the following means or a combination of such means,
as  determined  by  the  Committee  in  its  sole and absolute discretion in the
particular  case  (1)  by requiring the Employee to tender a cash payment to the
Company,  (2) by withholding from the Employee's salary, (3) by withholding from
the  Option  Shares which would otherwise be issuable upon exercise of the Stock
Option,  or  from  the  Award  Shares  on  their  grant  or  date  of  lapse  of
restrictions,  that  number of Option Shares or Award Shares having an aggregate
Fair  Market  Value (determined in the manner prescribed by Paragraph 2.2) as of
the  date  the  withholding tax obligation arises in an amount which is equal to
the  Employee's  Tax  Liability or (4) by any other method deemed appropriate by
the  Committee.  Satisfaction  of  the  Tax  Liability of a Section 16 Reporting
Person  may  be made by the method of payment specified in clause (3) above only
if  the  following  two  conditions  are  satisfied:

               (a)     The  withholding of Option Shares or Award Shares and the
exercise  of  the  related  Stock  Option  occur at least six months and one day
following  the  date  of  grant  of  such  Stock  Option  or  Award;  and

               (b)     The  withholding of Option Shares or Award Shares is made
either (i) pursuant to an irrevocable election (the "Withholding Election") made
by  the  Employee  at  least six months in advance of the withholding of Options
Shares  or  Award  Shares,  or  (ii)  on  a  day within a 10-day "window period"
beginning  on  the  third  business  day  following  the  date of release of the
Company's  quarterly  or  annual  summary  statement  of  sales  and  earnings.

     Anything herein to the contrary notwithstanding, a Withholding Election may
be  disapproved  by  the  Committee  at  any  time.

                                        7
<PAGE>
     4.3     Relationship  to  Other  Employee Benefit Plans.  Stock Options and
             -----------------------------------------------
Awards  granted hereunder shall not be deemed to be salary or other compensation
to  any  Employee  for  purposes  of  any pension, thrift, profit-sharing, stock
purchase  or any other employee benefit plan now maintained or hereafter adopted
by  the  Company.

     4.4     Amendments and Termination.  The Board of Directors may at any time
             --------------------------
suspend, amend or terminate this Amended Plan.  No amendment, except as provided
in  Paragraph  3.3,  or modification of this Amended Plan may be adopted, except
subject  to  stockholder  approval,  which  would  (1)  materially  increase the
benefits  accruing  to  the  Employees  under  this Amended Plan, (2) materially
increase  the  number  of securities which may be issued under this Amended Plan
(except  for  adjustments  pursuant  to Paragraph 4.1 hereof), or (3) materially
modify  the  requirements  as  to  eligibility for participation in this Amended
Plan.

     4.5     Successors  in  Interest.  The  provisions of this Amended Plan and
             ------------------------
the  actions  of  the  Committee shall be binding upon all heirs, successors and
assigns  of  the  Company  and  of  the  Employees.

     4.6     Other  Documents.  All documents prepared, executed or delivered in
             ----------------
connection  with  this  Amended  Plan  (including,  without  limitation,  Option
Agreements  and  Incentive  Agreements)  shall  be,  in  substance  and form, as
established  and  modified  by  the  Committee; provided, however, that all such
documents  shall  be  subject in every respect to the provisions of this Amended
Plan,  and  in  the event of any conflict between the terms of any such document
and  this  Amended  Plan,  the  provisions  of  this Amended Plan shall prevail.

     4.7     Fairness  of  the  Repurchase Price.  In the event that the Company
             -----------------------------------
repurchases  securities  upon termination of employment pursuant to this Amended
Plan,  either:  (a) the price will not be less than the fair market value of the
securities  to  be repurchased on the date of termination of employment, and the
right to repurchase will be exercised for cash or cancellation of purchase money
indebtedness  for the securities within 90 days of termination of the employment
(or  in the case of securities issued upon exercise of options after the date of
termination,  within  90  days  after  the  date of the exercise), and the right
terminates  when the Company's securities become publicly traded, or (b) Company
will  repurchase  securities  at  the original purchase price, provided that the
right  to  repurchase  at  the  original purchase price lapses at the rate of at
least  20  percent  of the securities per year over five years from the date the
option  is  granted  (without  respect  to  the date the option was exercised or
became  exercisable)  and  the right to repurchase must be exercised for cash or
cancellation of purchase money indebtedness for the securities within 90 days of
termination  of  employment  (or  in  case of securities issued upon exercise of
options  after  the  date  of  termination, within 90 days after the date of the
exercise).

     4.8     No  Obligation  to  Continue Employment.  This Amended Plan and the
             ---------------------------------------
grants  which  might  be  made  hereunder shall not impose any obligation on the
Company  to  continue  to  employ  any Employee.  Moreover, no provision of this
Amended Plan or any document executed or delivered pursuant to this Amended Plan
shall  be  deemed  modified  in  any  way  by any employment contract between an
Employee  (or  other  employee)  and  the  Company.

     4.9     Misconduct  of an Employee.  Notwithstanding any other provision of
             --------------------------
this Amended Plan, if an Employee commits fraud or dishonesty toward the Company
or  wrongfully  uses  or  discloses any trade secret, confidential data or other
information  proprietary to the Company, or intentionally takes any other action
which  results  in material harm to the Company, as determined by the Committee,
in  its  sole and absolute discretion, the Employee shall forfeit all rights and
benefits  under  this  Amended  Plan.

     4.10     Term  of  Amended  Plan.  No Stock Option shall be exercisable, or
              -----------------------
Award  granted, unless and until the Directors of the Company have approved this
Amended  Plan and all other legal requirements have been met.  This Amended Plan
was  adopted  by  the  Board  effective  December 17, 2004.  No Stock Options or
Awards  may  be  granted  under  this  Amended  Plan  after  December  17, 2014.

     4.11     Governing Law.  This Amended Plan and all actions taken thereunder
              -------------
shall be governed by, and construed in accordance with, the laws of the State of
Nevada.

     4.12     Assumption  Agreements.  The  Company will require each successor,
              ----------------------
(direct  or  indirect, whether by purchase, merger, consolidation or otherwise),
to  all  or  substantially  all  of  the  business  or  assets  of  the Company,

                                        8
<PAGE>
prior  to  the  consummation  of  each  such transaction, to assume and agree to
perform  the terms and provisions remaining to be performed by the Company under
each  Incentive  Agreement  and Stock Option and to preserve the benefits to the
Employees  thereunder.  Such  assumption  and  agreement shall be set forth in a
written  agreement  in  form  and  substance  satisfactory  to the Committee (an
"Assumption  Agreement"),  and  shall  include  such adjustments, if any, in the
application  of the provisions of the Incentive Agreements and Stock Options and
such  additional provisions, if any, as the Committee shall require and approve,
in  order  to  preserve  such  benefits  to the Employees.  Without limiting the
generality  of  the foregoing, the Committee may require an Assumption Agreement
to  include  satisfactory  undertakings  by  a  successor:

               (a)     To  provide  liquidity to the Employees at the end of the
Restriction  Period  applicable  to  the Common Stock awarded to them under this
Amended  Plan,  or  on  the  exercise  of  Stock  Options;

               (b)     If  the  succession  occurs  before the expiration of any
period  specified  in  the  Incentive Agreements for satisfaction of performance
criteria  applicable  to  the  Common  Stock awarded thereunder, to refrain from
interfering  with  the Company's ability to satisfy such performance criteria or
to  agree  to  modify  such  performance criteria and/or waive any criteria that
cannot  be  satisfied  as  a  result  of  the  succession;

               (c)     To  require  any  future  successor  to  enter  into  an
Assumption  Agreement;  and

               (d)     To  take or refrain from taking such other actions as the
Committee  may  require  and  approve,  in  its  discretion.

     4.13     Compliance  with Rule 16b-3.  Transactions under this Amended Plan
              ---------------------------
are  intended to comply with all applicable conditions of Rule 16b-3 promulgated
under  the  Exchange Act.  To the extent that any provision of this Amended Plan
or action by the Committee fails to so comply, it shall be deemed null and void,
to  the  extent  permitted  by  law  and  deemed  advisable  by  the  Committee.

     4.14     Information to Shareholders.  The Company shall furnish to each of
              ---------------------------
its  stockholders  financial  statements  of  the  Company  at  least  annually.

     IN  WITNESS  WHEREOF,  this  Amended Plan has been executed effective as of
December  17,  2004.

                                         GLOBAL LINKS CORP.

                                         By /s/ Frank J. Dobrucki
                                           -------------------------------------
                                            Frank J. Dobrucki, President

                                        9
<PAGE>

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