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      NEITHER
        THESE SECURITIES NOR THE SECURITIES INTO WHICH THESE SECURITIES ARE EXERCISABLE
        HAVE BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE
        SECURITIES COMMISSION OF ANY STATE OR FOREIGN COUNTRY IN RELIANCE UPON AN
        EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED
        (THE
“SECURITIES ACT”), OR THE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES OR
        FOREIGN COUNTRY. THE SECURITIES REPRESENTED HEREBY MAY NOT BE OFFERED OR
        SOLD IN
        THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES UNDER
        APPLICABLE SECURITIES LAWS UNLESS OFFERED, SOLD OR TRANSFERRED UNDER AN
        AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THOSE
        LAWS.

       

      W-1

       

      Date:
        May
        8, 2007

       

      GPS
        INDUSTRIES, INC.

      STOCK
        PURCHASE WARRANT

       

      THIS
        CERTIFIES THAT, for value received, ________________or its registered assigns,
        is entitled to purchase from GPS INDUSTRIES, INC. a Nevada corporation (the
        “Company”), at any time and from time to time during the Exercise Period (as
        defined in Section 2 hereof), __________________________________fully paid
        and
        nonassessable shares of the Company’s common stock, (the “Common Stock”), at an
        exercise price per share (the “Exercise Price”) of $.122 (the “Warrant”). The
        number of shares of Common Stock purchasable hereunder (the “Warrant Shares”)
        and the Exercise Price are subject to adjustment as provided in Section 4
        hereof. 

       

      This
        Warrant is subject to the following terms, provisions and
        conditions:

       

      1.  (a)
        Manner
        of Exercise; Issuance of Certificates.
        Subject
        to the provisions hereof, including, without limitation, the limitations
        contained in Section 7 hereof, this Warrant may be exercised at any time
        during
        the Exercise Period by the holder hereof, in whole or in part, by delivery
        of a
        completed exercise agreement in the form attached hereto (the “Exercise
        Agreement”), to the Company by 5 p.m. Vancouver time on any Business Day at the
        Company’s principal executive offices (or such other office or agency of the
        Company as it may designate by notice to the holder hereof) and upon payment
        to
        the Company as provided in Section 1(b) below of the applicable Exercise
        Price
        for the Warrant Shares specified in the Exercise Agreement. The Warrant Shares
        so purchased shall be deemed to be issued to the holder hereof or such holder’s
        designee, as the record owner of such shares, as of the close of business
        on the
        date on which this Warrant shall have been surrendered and the completed
        Exercise Agreement shall have been delivered and payment shall have been
        made
        for such shares as set forth above or, if such day is not a Business Day,
        on the
        next succeeding Business Day. The Warrant Shares so purchased, representing
        the
        aggregate number of shares specified in the Exercise Agreement, shall be
        delivered to the holder hereof as promptly as practicable. If this Warrant
        shall
        have been exercised only in part, then, unless this Warrant has expired,
        the
        Company shall, at its expense, at the time of delivery of such certificates,
        deliver to the holder a new Warrant representing the number of shares with
        respect to which this Warrant shall not then have been exercised.

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      (b)
        Payment
        of Exercise Price.
        The
        holder shall pay the Exercise Price in immediately available funds.

       

      2.  Period
        of Exercise.
        This
        Warrant may be exercised at any time or from time to time (an “Exercise Date”)
        during the period (the “Exercise Period”) beginning on (a) the date hereof and
        ending (b) at 5:00 p.m., Vancouver time, five years from the date
        hereof.

       

      3.  Certain
        Agreements of the Company.
        The
        Company hereby covenants and agrees as follows:

       

      (a)
          Shares
        to be Fully Paid.
        All
        Warrant Shares will, upon issuance in accordance with the terms of this Warrant,
        be validly issued, fully paid and nonassessable and free from all taxes,
        liens,
        claims and encumbrances (except for restrictions existing under applicable
        securities laws).

       

      (b)
          Reservation
        of Shares.
        During
        the Exercise Period, the Company shall at all times have authorized, and
        reserved for the purpose of issuance upon exercise of this Warrant, a sufficient
        number of shares of Common Stock to provide for the exercise in full of this
        Warrant.

       

      (c)
          Successors
        and Assigns.
        This
        Warrant shall be binding upon any entity succeeding to the Company by merger,
        consolidation, or acquisition of all or substantially all of the Company’s
        assets or any other similar transaction.

       

      4.  Antidilution
        Provisions.
        During
        the Exercise Period, the Exercise Price and the number of Warrant Shares
        issuable upon the exercise of the Warrants, shall be subject to adjustment
        from
        time to time as provided in this Section 4.

       

      In
        the
        event that any adjustment of the Exercise Price as required herein results
        in a
        fraction of a cent, such Exercise Price shall be rounded up or down to the
        nearest cent; provided that, in no event shall the Exercise Price per share
        be
        reduced below $0.01.

       

      (a)
          Subdivision
        or Combination of Common Stock.
        If the
        Company, at any time during the Exercise Period, subdivides (by any stock
        split,
        stock dividend, recapitalization, reorganization, reclassification or otherwise)
        its shares of Common Stock into a greater number of shares, then, after the
        date
        of record for effecting such subdivision, the Exercise Price in effect
        immediately prior to such subdivision will be proportionately reduced. If
        the
        Company, at any time during the Exercise Period, combines (by reverse stock
        split, recapitalization, reorganization, reclassification or otherwise) its
        shares of Common Stock into a smaller number of shares, then, after the date
        of
        record for effecting such combination, the Exercise Price in effect immediately
        prior to such combination will be proportionately increased.

       

      (b)
          Adjustment
        in Number of Shares.
        Upon
        each adjustment of the Exercise Price pursuant to the provisions of Sections
        4(a) and (c), the number of shares of Common Stock issuable upon exercise
        of
        this Warrant shall be appropriately increased or decreased to equal the quotient
        obtained by dividing (i) the product of (A) the Exercise Price in effect
        immediately prior to such adjustment, multiplied by (B) the number of shares
        of
        Common Stock issuable upon exercise of this Warrant immediately prior to
        such
        adjustment, by (ii) the adjusted Exercise Price.

       

      
        
          
          

        

        
          2

          
            

          

        

        
          
          

        

      

       

      (c)
          Consolidation,
        Merger or Sale.
        In case
        of any consolidation of the Company with, or merger of the Company into,
        any
        other entity, or in case of any sale or conveyance of all or substantially
        all
        of the assets of the Company or other similar transaction other than in
        connection with a plan of complete liquidation of the Company at any time
        during
        the Exercise Period, then as a condition of such consolidation, merger or
        sale
        or conveyance, adequate provision will be made whereby the holder of this
        Warrant will have the right to acquire and receive upon exercise of this
        Warrant
        in lieu of the shares of Common Stock immediately theretofore acquirable
        upon
        the exercise of this Warrant, such shares of stock, securities, cash or assets
        as may be issued or payable with respect to or in exchange for the number
        of
        shares of Common Stock immediately theretofore acquirable and receivable
        upon
        exercise of this Warrant had such consolidation, merger or sale or conveyance
        not taken place. In any such case, the Company will make appropriate provision
        to cause the provisions of this Section 4 thereafter to be applicable as
        nearly
        as may be in relation to any shares of stock or securities thereafter
        deliverable upon the exercise of this Warrant. The Company will not effect
        any
        consolidation, merger or sale or conveyance of all or substantially all of
        its
        assets or other similar transaction unless prior to the consummation thereof,
        the successor entity (if other than the Company) assumes by written instrument
        (a copy of which shall be delivered to the holder of this Warrant) the
        obligations under this Warrant and the obligations to deliver to the holder
        of
        this Warrant such shares of stock, securities or assets as, in accordance
        with
        the foregoing provisions, the holder may be entitled to acquire. The provisions
        of this Section 4(c) shall also apply to successive transactions covered
        by this
        section.

       

      (d)
          Distribution
        of Assets.
        In case
        the Company shall declare or make any distribution of its cash or other assets
        (or rights to acquire its assets) to all holders of Common Stock as a partial
        liquidating dividend, stock repurchase, return of capital or otherwise
        (including any distribution to the Company’s stockholders of shares (or rights
        to acquire shares) of capital stock of a subsidiary) (a “Distribution”), at any
        time during the Exercise Period, then, upon exercise of this Warrant for
        the
        purchase of any or all of the shares of Common Stock subject hereto, the
        holder
        of this Warrant shall be entitled to receive its pro-rata amount of such
        assets
        (or such rights) as would have been payable to the holder had such holder
        been
        the holder of such shares of Common Stock on the record date for the
        determination of stockholders entitled to such Distribution.

       

      (e)
          Subsequent
        Equity Sales at Less Than The Exercise Price.
        

       

      (i)  If
        the
        Company shall, at any time or from time to time, issue any shares of Common
        Stock (or be deemed to have issued shares of Common Stock as provided in
        Section
        4(e)(ii)) other than Excluded Securities (as defined below), without
        consideration or for a consideration per share less than the Exercise Price
        in
        effect immediately prior to each such issuance then the Exercise Price shall
        forthwith (except as provided in this Section 4(e)(i)) be lowered to a price
        equal to the quotient obtained by dividing:

       

      
        
          
          

        

        
          3

          
            

          

        

        
          
          

        

      

       

      (1)
         the
        total
        number of shares of Common Stock outstanding (including any shares of Common
        Stock deemed to have been issued pursuant to Section 4(e)(ii)(3)) (it being
        understood that the shares of Common Stock issuable upon exercise of this
        Warrant immediately prior to such issuance shall be deemed to be outstanding
        for
        all purposes of the computation required in this Section 4(e)(i)(1)),
        immediately prior to such issuance multiplied by the Exercise Price as in
        effect
        immediately prior to such issuance, plus 

       

      (2) 
         the
        consideration received by the Company upon such issuance, by 

       

         
        (3)  the
        total
        number of shares of Common Stock outstanding (including any shares of Common
        Stock deemed to have been issued pursuant to Section 4(e)(ii)) (it being
        understood that the shares of Common Stock issuable upon exercise of this
        Warrant immediately prior to such issuance shall be deemed to be outstanding
        for
        all purposes of the computation required in this Section 4(e)(i)(3)),
        immediately after the issuance of such Common Stock.

       

      Following
        a reduction in the Exercise Price under this Section 4(e)(i), the total number
        of Warrant Shares issuable hereunder shall be proportionately increased such
        that the aggregate Exercise Price payable hereunder, after taking into account
        the decrease in the Exercise Price per Warrant Share, shall be equal to the
        aggregate Exercise Price for all Warrant Shares prior to such
        adjustment.

      

      (ii)  For
        the
        purposes of any adjustment of the Exercise Price pursuant to Section 4(e)(i),
        the following provisions shall be applicable:

       

      (1) In
        the
        case of the issuance of Common Stock for cash, the consideration shall be
        deemed
        to be the amount of cash paid therefor before deducting therefrom any discounts,
        commissions or other expenses allowed, paid or incurred by the Company for
        any
        underwriting or otherwise in connection with the issuance and sale
        thereof.

       

      (2) In
        the
        case of the issuance of Common Stock for a consideration in whole or in part
        other than cash, the consideration other than cash be shall be deemed to
        be the
        fair market value thereof as determined in good faith by the Board, irrespective
        of any accounting treatment.

       

      (3) In
        the
        case of the issuance of (x) options to purchase or rights to subscribe for
        Common Stock, (y) securities by their terms convertible into or exchangeable
        for
        Common Stock or (z) options to purchase or rights to subscribe for such
        convertible or exchangeable securities:

       

        (i) the
        aggregate maximum number of shares of Common Stock deliverable upon exercise
        of
        such options to purchase or rights to subscribe for Common Stock shall be
        deemed
        to have been issued at the time such options or rights were issued and for
        a
        consideration equal to the consideration (determined in the manner provided
        in
        Sections 4(e)(ii)(1), 4(e)(ii)(2) and 4(e)(ii)(3)), if any, received by the
        Company upon the issuance of such options or rights plus the minimum purchase
        price provided in such options or rights for the Common Stock covered
        thereby;

       

      
        
          
          

        

        
          4

          
            

          

        

        
          
          

        

      

       

        (ii) 
        the
        aggregate maximum number of shares of Common Stock deliverable upon conversion
        of or in exchange for any such convertible or exchangeable securities or
        upon
        the exercise of options to purchase or rights to subscribe for such convertible
        or exchangeable securities and subsequent conversion or exchange thereof
        shall
        be deemed to have been issued at the time such securities were issued or
        such
        options or rights were issued and for a consideration equal to the consideration
        received by the Company for any such securities and related options or rights
        (excluding any cash received on account of accrued interest or accrued
        dividends), plus the additional consideration, if any, to be received by
        the
        Company upon the conversion or exchange of such securities or the exercise
        of
        any related options or rights (the consideration in each case to be determined
        in the manner provided in Sections 4(e)(ii)(1), 4(e)(ii)(2) and
        4(e)(ii)(3));

       

        (iii) 
        on
        any
        change in the number of shares or exercise price of Common Stock deliverable
        upon exercise of any options or rights or conversions of or exchanges for
        such
        securities, other than a change resulting from the anti-dilution provisions
        thereof, the Exercise Price shall forthwith be readjusted to the Exercise
        Price
        as would have been obtained had the adjustment made upon the issuance of
        such
        options, rights or securities not converted prior to such change or options
        or
        rights related to such securities not converted prior to such change been
        made
        upon the basis of such change;

       

        (iv) 
        on
        the
        expiration of any such options or rights, the termination of any such rights
        to
        convert or exchange or the expiration of any options or rights related to
        such
        convertible or exchangeable securities in each case having been issued by
        the
        Company, the Exercise Price shall forthwith be readjusted to the Exercise
        Price
        as would have been obtained had the adjustment made upon the issuance of
        such
        options, rights, securities or options or rights related to such securities
        been
        made on the basis that the only shares of Common Stock so issued were the
        shares
        of Common Stock, if any, actually issued or sold upon the exercise of such
        options or rights, upon the conversion or exchange of such securities, or
        upon
        the exercise of the options or rights related to such securities and subsequent
        conversion or exchange thereof; and

       

        (v) 
        no
        further adjustment of the Exercise Price, as adjusted upon the issuance of
        such
        options or rights, rights to convert or exchange or options or rights related
        to
        such convertible or exchangeable securities.

       

      (f)
          Notice
        of Adjustment.
        Upon
        the occurrence of any event which requires any adjustment of the Exercise
        Price
        then, and in each such case, the Company shall give notice thereof to the
        holder
        of this Warrant, which notice shall state the Exercise Price resulting from
        such
        adjustment and the increase or decrease in the number of Warrant Shares issuable
        upon exercise of this Warrant, setting forth in reasonable detail the method
        of
        calculation and the facts upon which such calculation is based. Such calculation
        shall be certified by the chief financial officer of the Company.

       

      (g)
          Minimum
        Adjustment of the Exercise Price.
        No
        adjustment of the Exercise Price shall be made in an amount of less than
        1% of
        the Exercise Price in effect at the time such adjustment is otherwise required
        to be made, but any such lesser adjustment shall be carried forward and shall
        be
        made at the time and together with the next subsequent adjustment which,
        together with any adjustments so carried forward, shall amount to not less
        than
        1% of such Exercise Price.

       

      
        
          
          

        

        
          5

          
            

          

        

        
          
          

        

      

       

      (h)
          No
        Fractional Shares.
        No
        fractional shares of Common Stock are to be issued upon the exercise of this
        Warrant, but the Company shall pay a cash adjustment in respect of any
        fractional share which would otherwise be issuable in an amount equal to
        the
        same fraction of the closing bid price of a share of Common Stock on the
        Principal Market on the date of such exercise.

       

      (i)
          Other
        Notices.
        In case
        at any time:

       

      (i)  the
        Company shall declare any dividend upon the Common Stock payable in shares
        of
        stock of any class or make any other distribution (including dividends or
        distributions payable in cash out of retained earnings) to the holders of
        the
        Common Stock;

       

      (ii)  the
        Company shall offer for subscription pro rata to the holders of the Common
        Stock
        any additional shares of stock of any class or other rights;

       

      (iii)  there
        shall be any capital reorganization of the Company, or reclassification of
        the
        Common Stock, or consolidation or merger of the Company with or into, or
        sale of
        all or substantially all of its assets to, another corporation or entity;
        or

       

      (iv)  there
        shall be a voluntary or involuntary dissolution, liquidation or winding up
        of
        the Company;

       

      then,
        in
        each such case, the Company shall give to the holder of this Warrant (a)
        notice
        of the date or estimated date on which the books of the Company shall close
        or a
        record shall be taken for determining the holders of Common Stock entitled
        to
        receive any such dividend, distribution, or subscription rights or for
        determining the holders of Common Stock entitled to vote in respect of any
        such
        reorganization, reclassification, consolidation, merger, sale, dissolution,
        liquidation or winding-up and (b) in the case of any such reorganization,
        reclassification, consolidation, merger, sale, dissolution, liquidation or
        winding-up, notice of the date (or, if not then known, a reasonable estimate
        thereof by the Company) when the same shall take place. Such notice shall
        also
        specify the date on which the holders of Common Stock shall be entitled to
        receive such dividend, distribution, or subscription rights or to exchange
        their
        Common Stock for stock or other securities or property deliverable upon such
        reorganization, reclassification, consolidation, merger, sale, dissolution,
        liquidation, or winding-up, as the case may be. Such notice shall be given
        at
        least fifteen (15) days prior to the record date or the date on which the
        Company’s books are closed in respect thereto. Failure to give any such notice
        or any defect therein shall not affect the validity of the proceedings referred
        to in clauses (i), (ii), (iii) and (iv) above. Notwithstanding the foregoing,
        the Company may publicly disclose the substance of any notice delivered
        hereunder prior to delivery of such notice to the holder of this
        Warrant.

       

      (j)
          Certain
        Events.
        If, at
        any time during the Exercise Period, any event occurs of the type contemplated
        by the adjustment provisions of this Section 4 but not expressly provided
        for by
        such provisions, the Company will give notice of such event as provided in
        Section 4 hereof, and the Company’s Board of Directors will make an appropriate
        adjustment in the Exercise Price and the number of shares of Common Stock
        acquirable upon exercise of this Warrant so that the rights of the holder
        shall
        be neither enhanced nor diminished by such event.

       

      
        
          
          

        

        
          6

          
            

          

        

        
          
          

        

      

       

      (k)
          Certain
        Definitions.

       

      (i)  “Business
        Day” means any day, other than a Saturday or Sunday or a day on which banking
        institutions in the State of New York are authorized or obligated by law,
        regulation or executive order to close.

       

      (ii)  “Common
        Stock,” for purposes of this Section 4, includes the Common Stock and any
        additional class of stock of the Company having no preference as to dividends
        or
        distributions on liquidation, provided that the shares purchasable pursuant
        to
        this Warrant shall include only Common Stock in respect of which this Warrant
        is
        exercisable, or shares resulting from any subdivision or combination of such
        Common Stock, or in the case of any reorganization, reclassification,
        consolidation, merger, or sale of the character referred to in Section 4(c)
        hereof, the stock or other securities or property provided for in such
        Section.

       

      (iii)  “Common
        Stock Equivalents” means any securities of the Company which would entitle the
        holder thereof to acquire at any time Common Stock, including, without
        limitation, any debt, preferred stock, rights, options, warrants or other
        instrument that is at any time convertible into or exercisable or exchangeable
        for, or otherwise entitles the holder thereof to receive, Common
        Stock.

       

      (iv)  “Excluded
        Securities” shall mean (i) any securities issued or issuable to employees,
        officers, directors of, or contractors, consultants or advisors to, the Company
        pursuant to stock purchase or stock option plans, stock bonuses or awards,
        contracts or other arrangements and any shares of Common Stock issuable upon
        exercise of any such securities, (ii) stock issued upon the conversion or
        exercise of any convertible securities, options, warrants or other rights
        to
        acquire capital stock of the Company issued on or before the date hereof,
        (iii) stock issued in connection with any stock split, stock dividend or
        recapitalization by the Company, (iv)  securities issued pursuant to
        commercial credit arrangements, equipment financings or similar transactions,
        (v) stock issued upon exercise of this Warrant, and (vi) securities
        issued pursuant to strategic transactions with an operating company in a
        business synergistic with the business of the Company and in which the Company
        receives benefits in addition to the investment of funds or pursuant to
        acquisitions or equipment leases, but shall not include a transaction in
        which
        the Company is issuing securities primarily for the purpose of raising capital
        or to an entity whose primary business is investing in securities.

       

      (v)  “Principal
        Market” means the Over-the-Counter Bulletin Board or, if the Common Stock is not
        traded on the Over-the-Counter Bulletin Board, then the principal securities
        exchange or trading market for the Common Stock.

       

      5.  Issue
        Tax.
        The
        issuance of certificates for Warrant Shares upon the exercise of this Warrant
        shall be made without charge to the holder of this Warrant or such shares
        for
        any issuance tax or other costs in respect thereof, provided that the Company
        shall not be required to pay any tax which may be payable in respect of any
        transfer involved in the issuance and delivery of any certificate in a name
        other than the holder of this Warrant.

       

      
        
          
          

        

        
          7

          
            

          

        

        
          
          

        

      

       

      6.  No
        Rights or Liabilities as a Stockholder.
        This
        Warrant shall not entitle the holder hereof to any voting rights or other
        rights
        as a stockholder of the Company. No provision of this Warrant, in the absence
        of
        affirmative action by the holder hereof to purchase Warrant Shares, and no
        mere
        enumeration herein of the rights or privileges of the holder hereof, shall
        give
        rise to any liability of such holder for the Exercise Price or as a stockholder
        of the Company, whether such liability is asserted by the Company or by
        creditors of the Company.

       

      7.  Transfer,
        Exchange, Redemption and Replacement of Warrant.

       

      (a)
          Restriction
        on Transfer.
        This
        Warrant and the rights granted to the holder hereof are transferable in whole
        or
        in part, at any one time, upon surrender of this Warrant, together with a
        properly executed assignment in the form attached hereto, at the office or
        agency of the Company referred to in Section 7(e). Until due presentment
        for
        registration of transfer on the books of the Company, the Company may treat
        the
        registered holder hereof as the owner and holder hereof for all purposes,
        and
        the Company shall not be affected by any notice to the contrary.

       

      (b)
          Warrant
        Exchangeable for Different Denominations.
        This
        Warrant is exchangeable, upon the surrender hereof by the holder hereof at
        the
        office or agency of the Company referred to in Section 7(e) below, for new
        Warrants of like tenor of different denominations representing in the aggregate
        the right to purchase the number of shares of Common Stock which may be
        purchased hereunder, each of such new Warrant to represent the right to purchase
        such number of shares as shall be designated by the holder hereof at the
        time of
        such surrender.

       

      (c)
          Replacement
        of Warrant.
        Upon
        receipt of evidence reasonably satisfactory to the Company of the loss, theft,
        destruction, or mutilation of this Warrant and, in the case of any such loss,
        theft, or destruction, upon delivery of an indemnity agreement reasonably
        satisfactory in form and amount to the Company, or, in the case of any such
        mutilation, upon surrender and cancellation of this Warrant, the Company,
        at its
        expense, will execute and deliver, in lieu thereof, a new Warrant of like
        tenor.

       

      (d)
          Cancellation;
        Payment of Expenses.
        Upon
        the surrender of this Warrant in connection with any transfer, exchange,
        or
        replacement as provided in this Section 7, this Warrant shall be promptly
        canceled by the Company. The Company shall pay all taxes (other than securities
        transfer taxes) and all other expenses (other than legal expenses, if any,
        incurred by the holder or transferees) and charges payable in connection
        with
        the preparation, execution, and delivery of Warrants pursuant to this Section
        7.

       

      (e)
          Warrant
        Register.
        The
        Company shall maintain, at its principal executive offices (or such other
        office
        or agency of the Company as it may designate by notice to the holder hereof),
        a
        register for this Warrant, in which the Company shall record the name and
        address of the person in whose name this Warrant has been issued, as well
        as the
        name and address of each transferee and each prior owner of this
        Warrant.

       

      (f)
          Exercise
        or Transfer Without Registration.
        If, at
        the time of the surrender of this Warrant in connection with any exercise,
        transfer, or exchange of this Warrant, this Warrant (or, in the case of any
        exercise, the Warrant Shares issuable hereunder), shall not be registered
        under
        the Securities Act and under applicable state securities or blue sky laws,
        the
        Company may require, as a condition of allowing such exercise, transfer,
        or
        exchange, (i) that the holder or transferee of this Warrant, as the case
        may be,
        furnish to the Company a written opinion of counsel (which opinion shall
        be
        reasonably acceptable to the Company and shall be in form, substance and
        scope
        customary for opinions of counsel in comparable transactions) to the effect
        that
        such exercise, transfer, or exchange may be made without registration under
        the
        Securities Act and under applicable state securities or blue sky laws, (ii)
        that
        the holder or transferee execute and deliver to the Company an investment
        letter
        in form and substance reasonably acceptable to the Company and (iii) that
        the
        transferee be an “accredited investor” as defined in Rule 501(a) promulgated
        under the Securities Act; provided, that no such opinion, letter, or status
        as
        an “accredited investor” shall be required in connection with a transfer
        pursuant to Rule 144 under the Securities Act.

       

      
        
          
          

        

        
          8

          
            

          

        

        
          
          

        

      

       

      8.  Notices.
        Any
        notices required or permitted to be given under the terms of this Warrant
        shall
        be delivered personally or by courier or by confirmed telecopy, and shall
        be
        effective five (5) days after being placed in the mail, if mailed, or upon
        receipt or refusal of receipt, if delivered personally or by courier, or
        by
        confirmed telecopy, in each case addressed to a party. The addresses for
        such
        communications shall be:

       

      
        	
                Great
                  White Shark Enterprises, Inc.

                501
                  North A1A, Jupiter, FL 33477

                Attn:
                  Bart Collins

                Telephone:
                  (561) 743-8818

                Telecopy:
                  (561) 743-8831

              	
                GPS
                  Industries, Inc.

                Suite
                  214, 5500 - 152nd Street

                Surrey,
                  British Columbia V3S 5J9

                Telecopier: (604)
                  576-7460

                Attn: Chief
                  Executive Officer

              

      

      

      If
        to any
        other holder, at such address as such holder shall have provided in writing
        to
        the Company, or at such other address as such holder furnishes by notice
        given
        in accordance with this Section 9.

       

      10.  Governing
        Law; Venue.
        All
        questions concerning the construction, validity, enforcement and interpretation
        of this Warrant shall be governed by and construed and enforced in accordance
        with the laws of the State of New York. Each party agrees that all legal
        proceedings concerning the interpretations, enforcement and defense of the
        transactions contemplated by this Warrant shall be commenced exclusively
        in the
        state and federal courts sitting in the City of New York. Each party hereby
        irrevocably submits to the exclusive jurisdiction of the state and federal
        courts sitting in the City of New York, borough of Manhattan for the
        adjudication of any dispute hereunder, and hereby irrevocably waives, and
        agrees
        not to assert in any suit, action or proceeding, any claim that it is not
        personally subject to the jurisdiction of any such court, that such suit,
        action
        or proceeding is improper or is an inconvenient venue for such proceeding.
        Each
        party hereby irrevocably waives personal service of process and consents
        to
        process being served in any such suit, action or proceeding by mailing a
        copy
        thereof via registered or certified mail or overnight delivery (with evidence
        of
        delivery) to such party at the address in effect for notices to it under
        this
        Warrant and agrees that such service shall constitute good and sufficient
        service of process and notice thereof.

       

      
        
          
          

        

        
          9

          
            

          

        

        
          
          

        

      

       

      11.  Miscellaneous.

       

      (a)
          This
        Warrant and any provision hereof may only be amended by an instrument in
        writing
        signed by the Company and the holder hereof.

       

      (b)
          The
        descriptive headings of the several Sections of this Warrant are inserted
        for
        purposes of reference only, and shall not affect the meaning or construction
        of
        any of the provisions hereof.

       

      (c)
          In
        case
        any one or more of the provisions of this Warrant shall be invalid or
        unenforceable in any respect, the validity and enforceability of the remaining
        terms and provisions of this Warrant shall not in any way be affected or
        impaired thereby and the parties will attempt in good faith to agree upon
        a
        valid and enforceable provision which shall be a commercially reasonable
        substitute therefore, and upon so agreeing, shall incorporate such substitute
        provision in this Warrant.

       

      (d)
          Subject
        to the restrictions on transfer set forth herein, this Warrant may be assigned
        by the holder. This Warrant may not be assigned by the Company. This Warrant
        shall be binding on and inure to the benefit of the parties hereto and their
        respective successors and assigns. Subject to the preceding sentence, nothing
        in
        this Warrant shall be construed to give to any Person other than the Company
        and
        the holder any legal or equitable right, remedy or cause of action under
        this
        Warrant.

       

      (e)
          The
        Company will not, by amendment of its governing documents or through any
        reorganization, transfer of assets, consolidation, merger, dissolution, issue
        or
        sale of securities or any other voluntary action, avoid or seek to avoid
        the
        observance or performance of any of the terms of this Warrant, but will at
        all
        times in good faith assist in the carrying out of all such terms and in the
        taking of all such action as may be necessary or appropriate in order to
        protect
        the rights of the holder hereof against impairment. Without limiting the
        generality of the foregoing, the Company (i) will not increase the par value
        of
        any Warrant Shares above the amount payable therefore on such exercise, (ii)
        will take all such action as may be reasonably necessary or appropriate in
        order
        that the Company may validly and legally issue fully paid and nonassessable
        Warrant Shares on the exercise of this Warrant, and (iii) will not close
        its
        stockholder books or records in any manner which interferes with the timely
        exercise of this Warrant.

       

      In
        the
        event that the Company fails to observe or perform any covenant or agreement
        to
        be observed or performed under this Warrant, the holder of this Warrant may
        proceed to protect and enforce its rights by suit in equity or action at
        law,
        whether for specific performance of any term contained in this Warrant or
        for an
        injunction against the breach of any such term or in aid of the exercise
        of any
        power granted in this Warrant or to enforce any other legal or equitable
        right,
        or to take any one or more of such actions, without being required to post
        a
        bond. None of the rights, powers or remedies conferred under this Warrant
        shall
        be mutually exclusive, and each such right, power or remedy shall be cumulative
        and in addition to any other right, power or remedy, whether conferred by
        this
        Warrant or now or hereafter available at law, in equity, by statute or
        otherwise.

       

      
        
          
          

        

        
          10

          
            

          

        

        
          
          

        

      

       

      IN
        WITNESS WHEREOF, the Company has caused this Warrant to be signed by its
        duly
        authorized officer.

       

      
        	 	
                GPS
                  INDUSTRIES, INC.

              
	 	
                By:
                  _________________________

              
	 	
                Name:_______________________

              
	 	
                Title:________________________

              

      

       

      
        
          
          

        

        
          11

          
            

          

        

        
          
          

        

      

       

      FORM
        OF EXERCISE AGREEMENT

       

      (To
        be Executed by the holder in order to Exercise the Warrant) 

       

      
        	
                To:    
                   GPS
                  Industries, Inc.

              
	
                Suite
                  214, 5500 - 152nd Street

              
	
                Surrey,
                  British Columbia V3S 5J9

              
	
                Telecopier:  
                   (604)
                  576-7460

              
	
                Attn:  
                   Chief
                  Executive Officer

              

      

       

      The
        undersigned hereby irrevocably exercises the right to purchase _____________
        shares of the Common Stock of GPS INDUSTRIES, INC., a corporation organized
        under the laws of the State of Nevada (the “Company”), and tenders herewith
        payment of the Exercise Price in full, in the amount of $_____________, in
        cash,
        by certified bank check or by wire transfer for the account of the
        Company.

       

      The
        undersigned agrees not to offer, sell, transfer or otherwise dispose of any
        Common Stock obtained on exercise of the Warrant, except under circumstances
        that will not result in a violation of the Securities Act of 1933, as amended,
        or any state securities laws.

       

      o  
        The
        undersigned requests that the Company cause its transfer agent to electronically
        transmit the Common Stock issuable pursuant to this Exercise Agreement to
        the
        account of the undersigned or its nominee (which is _________________) with
        DTC
        through its Deposit Withdrawal Agent Commission System (“DTC
        Transfer”).

       

      o  
In
        lieu
        of receiving the shares of Common Stock issuable pursuant to this Exercise
        Agreement by way of DTC Transfer, the undersigned hereby requests that the
        Company cause its transfer agent to issue and deliver to the undersigned
        physical certificates representing such shares of Common Stock.

       

      
        
          
          

        

        
          12

          
            

          

        

        
          
          

        

      

       

      The
        undersigned requests that a Warrant representing any unexercised portion
        hereof
        be issued, pursuant to the Warrant, in the name of the Holder and delivered
        to
        the undersigned at the address set forth below:

       

      
        	
                Dated:_________________

              	
                ____________________________________

              
	 	
                Signature
                  of Holder

              
	 	 
	 	
                ____________________________________

              
	 	
                Name
                  of Holder (Print)

              
	 	
                Address:

              
	 	
                ____________________________________

              
	 	
                ____________________________________

              
	 	
                ____________________________________

              

      

       

      
        
          
          

        

        
          13

          
            

          

        

        
          
          

        

      

       

      FORM
        OF ASSIGNMENT

       

      FOR
        VALUE
        RECEIVED, the undersigned hereby sells, assigns, and transfers all the rights
        of
        the undersigned under the attached Warrant, with respect to the number of
        shares
        of Common Stock covered thereby issuable pursuant to the attached Warrant
        set
        forth herein below, to:

       

      
        	
                Name
                  of Assignee

              	
                Address

              	
                No
                  of Shares

              

      

       

      and
        hereby irrevocably constitutes and appoints _________________________________
        as
        agent and attorney-in-fact to transfer said Warrant on the books of the
        within-named corporation, with full power of substitution in the
        premises.

       

      
        	
                Dated:
                  _____________________, ____

              
	
                In
                  the presence of

              
	
                __________________

              

      

       

      
        	 	
                Name:                                                             

              
	 	 
	 	
                Signature:                                          
                             
                  

              
	 	
                Title
                  of Signing Officer or Agent (if any):

              
	 	 
	 	                                                                       
                 
	 	
                Address:                                                      
                   

              
	 	                                                                         
	 	 
	 	
                Note: The
                  above signature should correspond exactly with the name on the
                  face of the
                  within Warrant

              

      

       

      
        
          
          

        

        
          14Unassociated Document

    Exhibit
      10.15

     

    Lease
      Agreement 

    (English
      Translation)

    

    Lessor
      ( “Party A”): 

     

    Shenzhen
      Huahan Pipelines Science & Technology Co., Ltd.

    

    Lessee
      (“Party B”):

     

    Shenzhen
      Ritar Power Co., Ltd.

    

    In
      accordance with Contract
      Law of the People’s Republic of China,
      The
      Law of Urban Real Estate Administration And The
      Rules
      for Implementing the Regulations of Shenzhen Special Economic Zone on House
      Leasing,
      Party
      A
      and Party B have reached the following agreement through friendly
      negotiation.

    

    Article
      1

     

    Party
      A
      will lease to Party B the property (the “Lease Property”) located at Room 405,
      Tower C, Huahan Building, Langshan Road, Nanshan District, Shenzhen.
      The
      aggregate floor
      area of the Lease Property is 1,200 square meters, and the Lease Property has
      6
      floors.

    

    This
      Lease Property is owned by Shenzhen Huanhan Pipelines Science & Technology
      Co., Ltd.

    

    Article
      2

     

    The
      rental will be RMB 43 Yuan per square meter per month.

    

    Article
      3

     

    Party
      B
      shall pay the lease guarantee deposit (the “Deposit”) together with the rent of
      the first month to Party A by 10th
      March,
      2007.

    

    Article
      4

     

    Party
      B
      shall pay the monthly rent to Party A before 10th
      day of
      each month, and Party A shall present relevant receipts to Party B when the
      rent
      is received. 

    

    Article
      5

     

    The
      lease
      term will commence on 6th
      May 2007
      and expire on 5th
      May
      2010. 

    

    The
      aforesaid term shall not exceed the term of the land use right of the Lease
      Property, and the loss incurred by the nullity of the excessive term shall
      be
      born according to the agreement reached by both parties (if any) or Party A
      (if
      no agreement).

    

    Article
      6

     

    The
      Lease
      Property shall be used for office use purpose. If Party B decides to use the
      Lease Property for other purpose, it shall obtain a prior written consent of
      Party A, and submit an application for such change of usage to relevant housing
      property authority. Party B shall not change the use of the Lease Property
      without obtaining such approvals. 

     

    
      
        
        

      

      
        1

        
          

        

      

      
        
        

      

    

     

    Article
      7

     

    Party
      A
      shall deliver the Lease Property to Party B before 6th
      March,
      2007 and complete relevant procedures of such delivery.

    

    In
      case
      Party A fails to deliver the Lease Property to Party B on time, Party B shall
      be
      entitled to request for a corresponding term extension.

    

    Article
      8

     

    Both
      parties shall complete together an inventory checklist when the Lease Property
      is delivered. 

    

    Article
      9

     

    When
      Party A delivers the Lease Property to Party B, Party A is entitled to collect
      the Deposit which equals to two months’ rental, and Party A shall present
      corresponding receipts to Party B when the Deposit is received by Party
      A.

    

    Party
      A
      shall return the Deposit to Party B in the event that all the following
      conditions are satisfied:

    

    a)
      The
      lease term expires or both parties agree to terminate this lease (the
“Contract”)

     

    b)
      Party
      B returns the receipt of the Deposit to Party A and all the due fees have been
      settled.

     

    c)
      Party
      B has not caused deteriorations or injuries to the Lease Property and its
      facilities. 

    

    Party
      A
      shall not return the Deposit to Party B in case any of the following conditions
      is satisfied:

     

    a)
      Party
      B refuses to pay the fees which are due.

     

    b)
      Party
      B unilaterally terminates the lease Contract without the consent of Party A
      (excluding the conditions stipulated in Article 18 or Article 20).

     

    c)
      Party
      B unilaterally subleases the Lease Property to any third party to engage in
      unlawful matters 

    

    Article
      10

     

    During
      the lease term, Party A shall pay the relevant fees for using the land of the
      Lease Property, relevant taxes, fee, and Party B shall be responsible for
      utilities and other services to the premises and any other fees incurred from
      the usage of the Lease Property by Party B.

    

    Article
      11

     

    Party
      A
      shall keep and maintain the demised premises in a safe condition at all times
      in
      accordance with relevant law, regulations and policies and put the demised
      premises into condition fit for their purpose of use contemplated by this
      Contract. 

    

    In
      the
      event that Party B suffers any personal injuries or property damage due to
      gross
      negligence or wilful default of Party A with respect to the Lease Property,
      Party A shall be entitled to claim for damages from Party B.

    

    Article
      12

     

    Party
      B
      shall use the Lease Property with ordinary care and shall not use the Lease
      Property to engage in unlawful business. Party A shall not interfere with the
      normal and reasonable use of the Lease Property of Party B.

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

    

    Article
      13

     

    During
      the lease term, not caused by Party B’s fault, in the event of occurrence of
      deteriorations or injuries to the Lease Party which imposes safety threats
      and
      renders it untenantable of the premise, Party B shall notify Party A in time
      and
      take effective measures to prevent further damage or malfunction. Within 5
      days
      immediate after being notified by Party B, Party A shall be responsible for
      repair or directly delegate Party B to repair the property. 

    

    In
      the
      event that Party B is unable to notify Party A or Party A fails to repair the
      property within the aforesaid term after receiving the writing notice from
      Party
      B, Party B may repair the property on behalf of Party A.

    

    In
      the
      event of any urgent condition where immediate repair is necessary, Party B
      shall
      make such repair on behalf of Party A and notify Party A in time.

    

    The
      expenses incurred from the aforesaid two conditions (including the reasonable
      expenses spent by Party B to mitigate damages or injuries) shall be borne by
      Party A. If Party B fails to comply with the obligations defined in this Article
      13, the loss incurred from failure to mitigate the damage shall be born by
      Party
      B.

    

    Article
      14

     

    Party
      B
      shall be responsible for the deteriorations to the Lease Property and its
      affiliates caused by its unreasonable use or misuse and shall notify Party
      A
      promptly. In the event that Party B refuses to repair such damage, Party A
      shall
      file with the relevant contract registration authority and repair the
      deteriorations to the Lease Property at the expense of Party B. 

    

    Article
      15

     

    During
      the lease term, in the event that Party A or Party B intends to makes
      alterations, additions or improvements on the Lease Property, both parties
      shall
      enter into a new agreement in writing. 

    

    In
      the
      event that an governmental approval shall be obtained before such change, both
      parties shall submit required application to the relevant authority for
      approval. 

    

    Article
      16

     

    Without
      prior consent of Party A, Party B shall not sublease part or whole of the Lease
      Property to any third party. In the event that Party A allows Party B to
      sublease part or whole of the Lease Property to any third party, the sublease
      term shall not exceed the lease term under this Contract.

    

    Article
      17

     

    In
      the
      event that Party A decides to transfer parts or whole of the Lease Property
      to
      any third party, it shall notify Party B in writing one month before such
      transfer and Party B has the right of first refusal. 

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

    

    In
      the
      event that Party A transfers the Lease Property to a third party, it shall
      be
      responsible to notify such third party to continue performing this
      Contract.

    

    Article
      18

     

    During
      the lease term, this Contract may be terminated or amended in the event that
      any
      of the following conditions is satisfied:

    

    a)
      The
      Contract can not be performed in the event of force majeure;

     

    b)
      Government confiscates, purchases, or demolishes the Lease
      Property;

     

    c)
      Both
      parties agree to terminate or amend this Contract.

     

    Article
      19

     

    Party
      A
      is entitled to refuse to return the Deposit to Party B, in case any of the
      following conditions is satisfied:

    a)
      The
      rent of any month is overdue for more than 30 days (one month);

     

    b)
      Party
      B use the Lease Property to engage in unlawful acts which violate the public
      interests or other third party’s legitimate interests.

     

    c)
      Party
      B alters the house’s structure or the agreed usage unilaterally;

     

    d)
      Party
      B breaches Article 14 of this Contract and refuses to be responsible for the
      repair liability or repair expenses which result in serious damage to the Lease
      Property or its facilities;

     

    e)
      Party
      B makes alterations, additions or improvements on the Lease Property without
      the
      consent of Party A and the approval from the relevant authority.

     

    f)
      Party
      B subleases parts or whole of the Lease Property to any third party with Party
      A’s consent. 

     

    In
      addition to the right of claiming for damages, Party A is entitled to terminate
      this Contract or require Party B to amend this Contract with Party
      A.

     

    Article
      20

     

    Party
      B
      is entitled to a refund equal to a double Deposit from Party A, in case any
      of
      the following conditions is satisfied: 

    

    a)
      Party
      A delays delivery of the Lease Property to Party B for more than 30 days (one
      month); 

     

    b)
      Party
      A breaches the obligations in Article 11 which causes impossible for Party
      B to
      use the Lease Property in a way contemplated by this Contract; 

     

    c)
      Party
      A breaches Article 14 by refusing to maintain the Lease Property appropriately;
      

     

    d)
      During
      the lease period, Party A makes alterations, additions or improvements on the
      Lease Property without the consent of Party B and an approval form relevant
      authority.

     

    In
      addition to the right of claiming for damages, Party B has the right to
      terminate this Contract (after Party B obtains relevant remedies, it shall
      notify Party A in writing and deliver the Lease Property to Party A) or require
      Party A to amend this Contract with Party B.

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

     

    Party
      B
      shall not pay the rent to Party A during the period between Party A obtains
      such
      notice and Party B obtains relevant compensation.

     

    Article
      21

     

    Party
      B
      shall vacate the Lease Property at the expiration of the lease term and return
      the Lease Property and its facilities to Party A, and Party B shall guarantee
      the good status of the Lease Property and its facilities (except normal
      deteriorations) and settle all the fees due and complete relevant transfer
      procedures.

    

    In
      the
      event that Party B fails to vacate or return the Lease Property to Party A,
      Party A shall be entitled to repossess Lease Property and a double rent for
      the
      overdue period from Party B.

    

    Article
      22

     

    If
      Party
      B needs to continue the use of the Lease Property after the Contract expires,
      it
      shall submit a written notice 2 months prior to the expiration of the lease
      term
      to Party A and Party B shall have the right of first refusal.

    

    If
      both
      parties agree to extent the term of this Contract, they shall enter into a
      new
      lease contract and register with the relevant registration authority.

    

    Article
      23

     

    During
      the lease term, any party who fails to perform any obligation stipulated in
      this
      Contract shall bear corresponding liability subject to relevant provisions
      under
      this Contract.

    

    Article
      24

    Any
      issue
      not covered under this Contract shall be otherwise negotiated by both parties
      and listed in an appendix of this Contact. The appendix shall constitute a
      part
      of this Contract and have the same legal effect with the original
      provisions.

    

    In
      the
      event that an amendment to this Contract is entered into between both parties,
      the amendment shall be registered with the relevant registration authority
      of
      this Contract and such amendment shall have the same legal effect as this
      Contract after registration.

    

    Article
      25

     

    Any
      dispute arising out of this Contract shall be negotiated by both parties first,
      and if no agreement can be reached, such dispute may be delivered to relevant
      registration authority of the Contract for mediation, and if any agreement
      still
      can not be reached, such dispute shall be finally submitted to CIETAC,
      Shenzhen Arbitration Commission Branch for arbitration.

    

    Article
      26

     

    This
      Contract shall come into effect on the date of execution.

     

    Both
      parties shall deliver this Contract to relevant authorities for registration
      or
      record within 10 days after the execution of this Contract.

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

     

    Article
      27

     

    The
      Chinese version of this Contract shall prevail.

    

    Article
      28

     

    There
      are
      two originals of this Contract. Each party shall hold one original.

    

    Party
      A 

    Shenzhen
      Huahan Pipelines Science& Technology Co., Ltd.

    (Corporate
      Seal)

    

    Party
      B:

    
      	 	 	 	 
	
              Shenzhen
                Ritar Power Co., Ltd. 

              (Corporate
                Seal) 

            	 	 	 
	 	 	 	 
	 	 	 	 
	
              By:
                 /s/
                Jiada Hu

              
                

              

              
              

            	 	 	 
	
              Name:
                Jiada Hu

            	 	 	
            
	 	 	 	 
	
              Date:
                9th
                March, 2007

            	 	 	 

    

     

    
      
        
        

      

      
        6

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