Document:

Exhibit

Exhibit 10.39

Avista Corporation
Non-Employee Director Compensation - 2015

Prior to August 21, 2015, directors who were not employees of the Company received an annual retainer of $125,000 with $50,000 of the total retainer to be paid in stock each year. Directors had the option of taking the remaining $75,000 in cash, stock or a combination of both cash and stock.  The cash portion of the retainer is paid quarterly. Directors were also paid $1,500 for each meeting of the Board or any Committee meeting of the Board. Directors who served as Board Committee Chairs received an additional $7,500 annual retainer, with the exception of the Audit Committee Chair, who received an additional $13,000 annual retainer and the Compensation Committee Chair, who received an additional $10,000 annual retainer. The Lead Director received an additional annual retainer of $20,000. 

Each year, the Governance Committee reviews all components of director compensation. During 2015, the Governance Committee engaged Meridian Compensation Partners LLC (“Meridian”) to assist in this review. The information provided by Meridian was used to compare the Company’s current director compensation with peer companies in the utility industry and general industry companies of similar size (the “Director Peer Group”). The companies comprising the Director Peer Group are those companies in the S&P 400 Utilities Index. 

At its August 21, 2015 meeting, the Board reviewed survey results from Meridian regarding current pay practices for director compensation. The Board approved an increase in the annual retainer of an additional $15,000, effective September 1, 2015. The total annual retainer is now $140,000 with $65,000 of the total retainer to be paid in stock each year. Directors will have the option of taking the remaining $75,000 in cash, stock or a combination of both cash and stock. 

Each director is entitled to reimbursement of reasonable out-of-pocket expenses incurred in connection with meetings of the Board or its Committees and related activities, including director education courses and materials. These expenses include travel to and from the meetings, as well as any expenses they incur while attending the meetings. 

The Company has a minimum stock ownership expectation for all Board members. Outside directors are expected to achieve a minimum investment of five times the minimum portion of their equity retainer payable in Company common stock within five years of becoming a Board member, and retain at least that level of investment during his/her tenure as a Board member. Shares previously deferred under the former Non- Employee Director Stock Plan count for purposes of determining whether a director has achieved the ownership expectation. Directors are prohibited from engaging in short-sales, pledging, or hedging the economic interest in their Company shares. 

The ownership expectation illustrates the Board’s philosophy of the importance of stock ownership for directors to further strengthen the commonality of interest between the Board and shareholders. The Governance Committee annually reviews director holdings to determine whether they meet ownership expectations. All directors currently comply based on their years of service completed on the Board. 

There were no annual stock option grants or non-stock incentive plan compensation payments to directors for services in 2015 and none are currently contemplated under the current compensation structure. The Company also does not provide a retirement plan or deferred compensation plan to its directors.Exhibit 10.1

 

FINDER’S
FEE AGREEMENT

 

THIS
AGREEMENT is dated for reference the 17th day of November, 2015.

 

BETWEEN:

 

PACIFIC
GREEN TECHNOLOGIES INC., a corporation in the State of Delaware, with offices at 5205 Prospect Road, Suite 135-226, San Jose,
CA 95129.

 

  (the “Company”)

 

AND:

PACIFIC
GREEN GROUP LIMITED, at Bison Court, Road Town, Tortola, D8.

 

(the
“Finder”)

 

WHEREAS:

 

		A.	the
                                         Finder introduced the Company to PowerChina SPEM Company Limited in regards to the manufacturing
                                         of products of the Company;

 

		B.	if
                                         the Company proceeds with the Transaction to which it was introduced through the Finder,
                                         the Company will pay to the Finder, in exclusive consideration for the finder’s
                                         services, a finder’s fee in the form of 934,963 warrants as attached as Schedule
                                         “B” to this Agreement (the “Warrants”) exercisable in
                                         common shares of the Company at a price of $0.001 per share (the “Finder’s
                                         Fee”); and

 

		C.	the
                                         Company has entered into an agreement with PowerChina SPEM Company Limited in regards
                                         to the manufacturing of products of the Company (the “Transaction”).

 

THIS
AGREEMENT WITNESSES that in consideration of the premises and mutual covenants and agreements herein contained the parties
agree as follows:

 

1.            On
the closing of the Transaction (the “Effective Date”), the Finder shall become entitled to the Finder’s
Fee consisting of the Finder’s Fee issuable on or before two months from closing of the Transaction.

 

2.            The
Finder represents and warrants to, and covenants and agrees with the Company that:

 

		(i)	the
                                         Finder is eligible to acquire the Warrants of under Regulation S set forth in the Declaration
                                         of Regulation S Eligibility, attached hereto as Schedule “A”, respectively,
                                         are true and correct and may be relied upon by the Company; further, all information,
                                         representations and warranties contained in this Agreement, or that have been otherwise
                                         given to the Company, are correct and complete as of the date hereof, and may be relied
                                         upon by the Company; and

 

     

     

    

 

		(ii)	the
                                         Finder understands that any certificates representing Warrants acquired by the Finder
                                         subject to the Agreement will have a resale legend on them that will read substantially
                                         as follows:

 

“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.”

 

3.            Any
notice to be given under this Agreement shall be in writing and shall be addressed and delivered personally to the parties at
their addresses as first above given or at such other address as may from time to time be notified in writing by any of the parties.
Any such notice shall be deemed to have been given on the day delivered.

 

4.            This
Agreement may not be amended or otherwise modified except by an instrument in writing signed by both parties.

 

5.            The
parties shall execute such further and other documents and instruments and do such further and other things as may be necessary
to implement and carry out the terms of this Agreement.

 

6.            This
Agreement may not be assigned by either party hereto except with the prior written consent of the other party hereto.

 

7.            This
Agreement will be construed under and governed by the laws of the Province of British Columbia.

 

8.            This
Agreement represents the entire agreement between the parties and supersedes any and all prior agreements and understandings,
whether written or oral, between the parties.

 

    	 	- 2 -	 

     

    

 

9.            The
Finder acknowledges that:

 

		a.	the
                                         Finder has been requested by the Company to obtain his own independent legal advice on
                                         this Agreement prior to signing this Agreement;

 

		b.	the
                                         Finder has been given adequate time to obtain independent legal advice;

 

		c.	by
                                         signing this Agreement, the Finder confirms that he fully understands this Agreement;
                                         and

 

		d.	by
                                         signing this Agreement without first obtaining independent legal advice, the Finder waives
                                         his right to obtain independent legal advice.

 

10.          This
Agreement shall be binding upon and shall enure to the benefit of the parties hereto and their respective heirs, executors, administrators,
successors and permitted assigns.

 

11.          This
Agreement may be executed in counterparts, each of which shall be deemed to be an original and all of which shall constitute one
agreement.

 

IN
WITNESS WHEREOF the parties hereto have duly executed this Agreement as of the day and year first above written notwithstanding
its actual date of execution.

 

PACIFIC
GREEN TECHNOLOGIES INC.

 

	Per:	 	 
	 	Neil Carmichael,
    President and Director	 

 

PACIFIC
GREEN GROUP LIMITED

   

	Per:	 	 
	 	Authorized Signatory	 

 

    	 	- 3 -	 

     

    

 

SCHEDULE
“A”

 

DECLARATION
OF REGULATION S ELIGIBILITY

 

Regulation
S of the United States Securities Act of 1933, as amended (“Securities Act”) is available for the use of non-U.S.
Persons only. This Declaration must be answered fully and returned to Pacific Green Technologies Inc. (the “Company”)
to ensure the Company is in compliance with the Securities Act in connection with the proposed acquisition of securities of the
Company (the “Securities”) by the Shareholder (as defined below). All information will be held in the strictest
confidence and used only to determine investor status. No information will be disclosed other than as required by law or regulation,
other demand by proper legal process or in litigation involving the Company or its affiliates, controlling persons, officers,
directors, partners, employees, shareholders, attorneys or agents.

 

In
order to induce the Company and W.L. Macdonald Law Corporation to effect the issuance of securities, I: _____________________________________________
(the “Shareholder”),

  

HEREBY
AFFIRM AND DECLARE THAT:

 

		1.	The
                                         Shareholder is not a “US Person,” as such term is defined in Rule 902(k)
                                         of Regulation S which, without restricting the generality of such definition, includes

 

(a)
a natural person resident in the United States,

 

(b)
a partnership or corporation organized or incorporated under the laws of the United States,

 

(c)
an estate of which any executor or administrator is a U.S. Person,

 

(d)
a trust of which any trustee is a U.S. Person,

 

(e)
a non-discretionary account or similar account (other than an estate or trust) held by a dealer or other fiduciary for the
benefit of a U.S. Person,

 

(f)a
discretionary account or similar account (other than an estate or trust) held by a dealer or other fiduciary organized, incorporated
or (if an individual) resident in the United States, and

 

(g)
a partnership or corporation if

 

		(i)	organized
                                         or incorporated under the laws of any foreign jurisdiction, and
	 	 	 

		(ii)	formed
by a U.S. Person principally for the purpose of investing in securities not registered under the 1933 Act, unless it is organized
or incorporated, and owned, by ‘Accredited Investors’ who are not natural persons, estates or trusts.

 

	2.	The Shareholder is not purchasing the Securities for the benefit of a US Person.
	 	 
	3.	The Shareholder is not purchasing the Securities in the name of a company incorporated in the United States of America or for the benefit of a company incorporated in the United States of America.
	 	 
	4.	The Shareholder is not purchasing the Securities in its capacity as trustee for a U.S.-based trust.

 

    	 	- 4 -	 

     

    

 

	5.	The Shareholder is not purchasing the securities in its capacity as an executor or administrator of the estate of a U.S. resident.
	 	 
	6.	The Shareholder is not a U.S. resident purchasing the Securities through a brokerage account located outside of the United States of America, nor is it using a non-U.S. brokerage account to purchase the Securities for the benefit of individuals or corporate entities resident within the United States of America.
	 	 
	7.	The Shareholder is not purchasing the Securities as part of a transaction or series of transactions that, although in technical compliance with the provisions of Regulation S, is part of a plan or scheme to evade the registration provisions of the Securities Act and will not engage in hedging transactions involving the Securities unless such transactions are in compliance with the Securities Act.
	 	 
	8.	The Shareholder is purchasing the Securities as an investment and not with a view towards resale.
	 	 
	9.	It has been called to the Shareholder’s attention that this investment involves a high degree of risk, and no assurances are or have been made regarding the economic advantages, if any, which may inure to its benefit. The economic benefit from an investment in the Securities depends on the ability of the Company to successfully conduct its business activities. The accomplishment of such goals in turn depends on many factors beyond the control of the Company or its management. Accordingly, the suitability for any particular investor in the Securities will depend upon, among other things, such investor's investment objectives and such investor's ability to accept speculative risks, including the risk of a total loss of investment in the Securities. The Shareholder’s advisor(s), if any, and the Shareholder have carefully reviewed and understand the risk of, and other considerations relating to, an investment in the securities.
	 	 
	10.	The Shareholder is able to bear the economic risks of this investment, is able to hold the Securities for an indefinite period of time, and has sufficient net worth to sustain a loss of the entire investment in the Company in the event such loss should occur.
	 	 
	11.	The Company has answered all inquiries that the Shareholder has made of it concerning the Company or any other matters relating to the business and proposed operation of the Company and the offer and sale of the Securities.
	 	 
	12.	The Shareholder will offer, sell or otherwise transfer the Securities only (A) pursuant to a registration statement that has been declared effective under the Securities Act, (B) pursuant to offers and sales that occur outside the United States within the meaning of Regulation S in a transaction meeting the requirements of Rule 904 (or other applicable Rule) under the Securities Act, or (C) pursuant to another available exemption from the registration requirements of the Securities Act, subject to the Company’s right prior to any offer, sale or transfer pursuant to clauses (B) or (C) to require the delivery of an opinion of counsel, certificates or other information reasonably satisfactory to the Company for the purpose of determining the availability of an exemption.

 

    	 	- 5 -	 

     

    

 

	13.	To the Shareholder’s knowledge, without having made any independent investigation, neither the Company nor any person acting for the Company, has conducted any “directed selling efforts” in the United States as the term “directed selling efforts” is defined in Rule 902 of Regulation S, which, in general, means any activity undertaken for the purpose of, or that could reasonably be expected to have the effect of, conditioning the marketing in the United States for any of the securities being offered. Such activity includes, without limitation, the mailing of printed material to investors residing in the United States, the holding of promotional seminars in the United States, and the placement of advertisements with radio or television stations broadcasting in the United States or in publications with a general circulation in the United States, which discuss the offering of the securities. To the Shareholder’s knowledge, without having made any independent investigation, the securities were not offered to it through, and the Shareholder is not aware of, any form of general solicitation or general advertising, including without limitation, (i) any advertisement, article, notice or other communication published in any newspaper, magazine or similar media or broadcast over television or radio, and (ii) any seminar or meeting whose attendees have been invited by any general solicitation or general advertising.
	 	 
	14.	The Shareholder is permitted to purchase the Securities under the laws of its home jurisdiction.
	 	 
	15.	The Shareholder has been independently advised as to the applicable holding period imposed in respect of the Securities by securities legislation in the jurisdiction in which it resides and confirms that no representation has been made respecting the applicable holding periods for the Securities in such jurisdiction and is aware of the risks and other characteristics of the Securities and of the fact that holders of such Securities may not be able to resell such Securities except in accordance with applicable securities legislation and regulatory policy.
	 	 
	16.	The Shareholder understands that if it knowingly and willingly makes false statements as to eligibility to purchase or resell securities under Regulation S, it may become subject to civil and criminal proceedings being taken by the United States Securities and Exchange Commission.
	 	 
	17.	The Shareholder has no present intention of becoming, a resident of the United States (defined as being any natural person physically present within the United States for at least 183 days in a 12-month consecutive period or any entity who maintained an office in the United States at any time during a 12-month consecutive period). The Shareholder understands that the Company may rely upon the representations and warranty of this paragraph as a basis for an exemption from registration of the securities under the Securities Act, and the provisions of relevant state securities laws.

 

DATED: January 8, 2016

 

	Witnessed by:	)	 
	 	)	 
	 	)	 
	 	)	Signature
	 	)	 
	 	)	 
	Address	)	 
	 	)	(Please print name)
	 	)	 

 

    	 	- 6 -	 

     

    

 

SCHEDULE
“B”

 

FORM
OF WARRANTS

 

 

 

 

 

 

 

 

 

 

 

 

 -
7 -

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00254-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00254-of-00352.parquet"}]]