Document:

Exhibit
      10.46

    

    CONSULTING
      AGREEMENT

    

    THIS
      CONSULTING AGREEMENT (“Agreement”) is entered into effective June 15, 2006 (the
“Effective Date”), by and between TRULITE, INC. (“the Company”) and Jonathan
      Godshall (“Consultant”). The Company and Consultant shall collectively be
      referred to herein as “the Parties.”

    

    WHEREAS,
      the Company
      desires to obtain the benefit of the knowledge and experience of Consultant
      by
      retaining Consultant on an independent contractor basis, and Consultant is
      willing to render such services to the Company on the terms and conditions
      set
      forth herein. 

     

    NOW
      THEREFORE, in consideration of the promises and mutual covenants contained
      herein, the receipt and sufficiency of which is acknowledged, the Parties agree
      as follows:

    

    1. Consulting
      Services. The Company hereby retains Consultant to perform certain services
      for the Company, and Consultant hereby agrees to provide such services (the
      “Services”). Consultant’s duties and responsibilities will include those
      assigned by the Company’s Board of Directors (the “Board”), including, without
      limitation, those customarily assigned to senior management. Consultant will
      receive direction from the Board.

     

    All
      of
      Consultant’s services will be subject to the Company’s final approval and will
      be performed in accordance with the Company standards, but Consultant shall
      direct the details and means by which the services are accomplished. Consultant
      shall conform to the rules, regulations, instructions, practices and policies
      of
      the Company now in force or hereafter enacted which are applicable to
      consultants or independent contractors engaged by the Company.

     

    Consultant,
      as part of his Services, shall develop a cash incentive plan for the Company
      employees. Such plan shall be presented to the Board for its approval no later
      than December 15, 2006. The Board, in its sole discretion, will determine the
      date of such plan’s implementation.

    

    2. Location.
      Consultant will work out of the Company facility located at Three Riverway,
      Suite 1700, Houston, Texas and/or from Consultant’s office in Houston, Texas.

    

    3. Compensation
      for Services. The Company shall compensate Consultant for performance of the
      Services pursuant to the following terms and conditions. 

    

    (a) Fee
      for Services.
      During
      the term of this Agreement, the Company agrees to pay Consultant a prorated
      fee
      equal to $10,000.00 per month. Such fees shall be increased to $16,666.66 per
      month at the closing of the Company’s current round of financing or November 30,
      2006, whichever occurs first. The parties agree that no additional fees will
      be
      paid for Consultant’s participation on the Board, if any.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    (b) Benefits.
      During
      the Term of this Agreement, Consultant will be entitled to participate in and
      receive company benefits as set out in the Trulite Human Resource’s
      Guidelines.

    

    (c)
      Expenses.
      Consultant will be compensated for all reasonable and documented expenses
      associated with providing these services, such as travel and entertainment
      expenses, office supplies, etc.

    

    4. Stock
      Options.
      Subject
      to the approval of the Board, which approval shall not be unreasonably withheld,
      Consultant
      will be granted an option to purchase 5.0% of the outstanding shares of the
      Company’s Common Stock on the date of grant. The
      exercise price per share will be equal to the fair market value per share on
      the
      date the option is granted or on the Effective Date, whichever is later. The
      option will be subject to the terms and conditions applicable to options granted
      under the Company’s Amended and Restated Stock Option Plan (the “Plan”) , as
      described in the Plan and the applicable stock option agreement. Consultant
      will
      vest in 25% of the option shares after 12 months of continuous consulting
      service and/or Board service (if any), 25% after 24 months of continuous
      consulting service and/or Board service (if any), 25% after 36 months of
      continuous consulting service and/or Board service (if any) and 25 % after
      48
      months of continuous consulting service and/or Board service (if any). The
      option will be exercisable for seven years from the date of grant and will
      be
      subject to acceleration upon a change of control of the Company. 

    

    (a)
      Termination
      of Stock Options.
      In the
      event that the Consultant’s services or Consultant’s service on the Board of
      Directors, if any, is terminated by either party, the Stock Options will
      continue to vest for 30 days following the date of such termination, whichever
      is later. Options will not expire if they are exercised within 120 days
      following the date of such termination. In the event that the Consultant becomes
      an employee of the Company, then the termination provisions for the stock
      options agreed to in an offer letter and/or employment agreement will determine
      the vesting and exercise rights of Consultant following any termination.

    

    5. Term.
      The term of this Agreement for providing consulting services (but not for Board
      membership, if any) shall end on December 31, 2006, or until otherwise
      terminated. Either Consultant or the Company may terminate this Agreement at
      any
      time and for any reason during the term. 

    

    6. Independent
      Contractor Relationship. In rendering Services hereunder it is expressly
      understood and agreed that Consultant is not an employee of or controlled by
      the
      Company, but that Consultant is, in all respects, an independent contractor,
      and
      as such Consultant has no right or authority to make any disbursements or
      purchases or to incur any liabilities on behalf of the Company or to otherwise
      obligate the Company in any manner whatsoever, unless specifically authorized
      to
      do so by the Company. 

    

    The
      Company will make no deductions from any of the payments due to Consultant
      hereunder for state or federal tax purposes. Consultant agrees that he will
      be
      solely responsible for any and all taxes and other payments due on payments
      received by Consultant from the Company hereunder, including withholding of
      state and federal income, sales or ad valorem taxes, unemployment compensation,
      workers’ compensation, Federal Insurance Contributions Act, Federal Unemployment
      Tax Act or other taxes, costs or expenses incurred in the performance of any
      engagement hereunder. Consultant expressly indemnifies and holds the Company
      harmless from any such liabilities. 

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    Consultant
      understands and agrees that the Company is not responsible for paying any
      retirement, worker’s compensation or unemployment benefits to Consultant.

    

    7. Confidentiality.
      Consultant will be required, as a condition of this Agreement, to strictly
      maintain the confidentiality of any confidential business matters pertaining
      to
      the Company. Consultant agrees not to use any confidential information acquired
      by Consultant’s in connection with performing the Services for Consultant’s own
      personal benefit or for the benefit of persons other than the Company.
      Consultant agrees that Consultant’s obligations under this paragraph shall
      continue in effect for five years after termination of the Agreement, regardless
      of the reason or reasons for termination, and whether such termination is
      voluntary or involuntary on Consultant’s part.

    

    8. Non-Compete
      Agreement. Consultant will sign a non-compete agreement related to the
      Company’s chemical hydride and fuel cell technology as it relates to current
      products of the Company. The Non-Compete Agreement will remain in effect for
      twelve (12) months after Consultant stops providing any services for the
      Company.

    

    9. No
      Conflicting Agreements. Consultant represents and warrants that he is not a
      party to, subject to, or otherwise bound by any other agreement, arrangement,
      or
      understanding, written or otherwise, which prohibits, restricts, or anyway
      whatsoever conflicts with Consultant’s ability to enter into and fulfill his
      obligations under this Agreement.

    

    10. Choice
      of Law, Venue and Forum. This Agreement, the entire relationship of the
      Parties hereto, and any litigation between the Parties (whether grounded in
      contract, tort, statute, law or equity) shall be governed by, construed in
      accordance with, and interpreted pursuant to the laws of the State of Texas,
      without giving effect to its choice of laws principles. Exclusive venue for
      any
      litigation between the Parties hereto shall be in Harris County, Texas, and
      shall be brought in the State District Courts of Harris County, Texas, or in
      the
      United States District Court for the Southern District of Texas, Houston
      Division. The Parties hereto waive any challenge to personal jurisdiction or
      venue (including without limitation a challenge based on inconvenience) in
      Harris County, Texas, and specifically consent to the jurisdiction of the State
      District Courts of Harris County and the United States District Court for the
      Southern District of Texas, Houston Division. 

    

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

    

    12. Headings.
      The headings used in this Agreement have been included only in order to make
      it
      easier to locate the subject covered by each provision and are not to be used
      in
      construing this Agreement.

    

    13. Entire
      Agreement. This Agreement supersedes and replaces any prior understandings
      or agreements, whether oral, written or implied, between Consultant and the
      Company regarding the matters described in this letter.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    14. Invalid
      Provisions.
      Should
      any portion of this Agreement be adjudged or held to be invalid, unenforceable
      or void, such holding shall not have the effect or invalidating or voiding
      the
      remainder of this agreement and the parties hereby agree that the portion so
      held invalid, unenforceable or void shall, if possible, be deemed amended or
      reduced in scope, or otherwise be stricken from this letter to the extent
      required for the purposes of validity and enforcement thereof.

    

    [Signature
      page follows.]

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    IN
      WITNESS WHEREOF, the Parties hereto have caused this Agreement to be executed
      as
      of the Effective Date.

     

    
      	 	 	COMPANY:
	 	 	 
	 	 	TRULITE, INC.
	 	 	 
	 	 	By: Trulite, Inc.
	 
 	 
 	 

	 	  	 
	 	Name: William J. Berger 
	 	Title:
              Chairman of the Board
	 	Date: June 16, 2006 
	 	 
	 	 
	 	CONSULTANT:
	 	 
	 	
	 	Date: June 15, 2006FIRST AMENDMENT TO AGREEMENT

This First Amendment (the "AMENDMENT") to that certain Agreement entered into on
the 7 day  of  May  2006  by  and  between  TRACEGUARD  TECHNOLOGIES  LTD.  (the
"COMPANY")  a company  registered  in  Israel,  having  its  principal  place of
business at6 Ravnitzky Street,  Segula Industrial Park, Petach Tikva, Israel and
DR. EHUD GANANI of ______,  _____________ ("DR. GANANI") is made effective as of
the 6th day of July 2006 (the "EFFECTIVE DATE").

      WHEREAS,  Company  and Dr.  Ganani are parties to that  certain  Agreement
dated May 7, 2006 (the  "Agreement"),  pursuant  to which  Company  engaged  Dr.
Ganani as the Chief Executive Officer and the Chairman of the Board of Directors
of the Company as more fully described under the Agreement; and

      WHEREAS, pursuant to Section 3.5.1 of the Agreement,  Company undertook to
grant to Dr.  Ganani  options to purchase  up to an  aggregate  of nine  hundred
ninety  thousand  (990,000)  shares of Common Stock of TraceGuard  Technologies,
Inc. ("TG US"), par value US$ 0.001 each (the "UNCONDITIONAL OPTIONS"); and

      WHEREAS,  the parties agreed that  Consultant will be granted five hundred
and fifty thousand  (550,000)  Restricted  Stock Units ("RSUS") in lieu of those
certain  Unconditional  Options  specified  above,  subject  to  the  terms  and
conditions set forth herein; and

      WHEREAS,  the  Parties  agreed  to amend the  Agreement,  all as set forth
hereinbelow;

NOW, THEREFORE, THE PARTIES HEREBY AGREE AS FOLLOWS:

1.    Unless otherwise  defined herein,  all capitalized terms used herein shall
      have the meaning ascribed to them in the Agreement.

2.    The first  paragraph of Section 3.5 of the Agreement  shall be replaced by
      the following:

            "GRANT OF SECURITIES
            --------------------

            In addition,  Company will grant Dr. Ganani  Restricted  Stock Units
            ("RSUS")  and/or  options for the purchase of shares of Common Stock
            of TG US (as defined below) par value US$ 0.001 each ("SHARES"),  as
            follows:"

3.    Section 3.5.1 of the Agreement shall be replaced by the following:

            "Company  will grant Dr.  Ganani  550,000  (Five  Hundred  and Fifty
            Thousand RSUs of the Company, subject to the terms and conditions of
            the Company's  2006 Global Stock  Incentive  Compensation  Plan (the
            "PLAN") as set forth in Section 3.5.5 below".

4.    The  words  "the  Unconditional  Options"  under  Section  3.5.4  shall be
      deleted.

5.    Sections  3.5.5  and  3.6  of  the  Agreement  shall  be  replaced  by the
      following:

            "3.5.5 The Options and RSUs, as applicable,  shall be granted to Dr.
            Ganani  in  accordance  with  the  following   principle  terms  and
            conditions:

<PAGE>

            (I)   Vesting.  All RSUs shall vest in accordance with the terms and
                  conditions of the Plan, and unless  expressly stated otherwise
                  herein all Options  granted to Dr. Ganani under this Agreement
                  shall vest immediately upon their grant to Dr. Ganani.

            (II)  Exercise Price.  (i) No purchase price shall be payable by Dr.
                  Ganani to the Company with respect to the grant of RSUs;  (ii)
                  Each Option shall be  exercisable to one share of Common Stock
                  of the Company, par value $0.001, against a payment of seventy
                  cents (US$ 0.70).

            (III) Term of Options.  All  Options,  if and to the extent  granted
                  according to this Section,  shall be in effect for a period of
                  three  (3)  years  commencing  on the date of their  grant and
                  shall expire immediately thereafter.

            (IV)  Tax.  All  RSUs  granted  to Dr.  Ganani  will be  granted  in
                  accordance  with  Section  102  of  Israeli  Internal  Revenue
                  Ordinance  ("SECTION  102") under the capital  gains tax track
                  with a trustee,  subject to the requirements and conditions of
                  Section  102;  All  Options  granted  to  Consultant  shall be
                  granted  under  Section  3(i)  of  Israeli   Internal  Revenue
                  Ordinance  unless  agreed  otherwise  between  the parties and
                  subject to applicable law.

            3.6   General.  All RSUs  granted to Dr.  Ganani shall be subject to
                  the terms and  conditions  of the Plan, as will be approved by
                  the Company,  at its sole  discretion.  All Options granted to
                  Consultant   shall  be  in  accordance   with  the  terms  and
                  conditions  of  a  Grant  Letter  substantially  in  the  form
                  attached   hereto  as  EXHIBIT  B.  At  the  first   ---------
                  anniversary  of this  Agreement  (i.e,  1st  day of  February,
                  2007),  the Fee, the Special Bonus Fee and the Annual Fee will
                  be  automatically  increased  by  ten  percent  (10%).  At any
                  anniversary of this Agreement thereafter,  if the term of this
                  Agreement is extended by the Parties,  annual reviews shall be
                  performed  by the  Company  on a  yearly  basis  at  its  sole
                  discretion."

6.    The words  "Options"  under Sections 3.8, 3.9 and 7.3 shall be replaced by
      the words "Options and RSUs".

7.       Other than as amended and supplemented herein, the provisions of the
         Agreement and its exhibits shall remain in full force and effect,
         insofar as they do not contradict the terms of this Amendment.

IN WITNESS WHEREOF, the parties have hereunto subscribed their names:

---------------------------                   ----------------------------
TraceGuard Technologies Ltd.                  Dr.  Ehud Ganani
By: ____________________
Title: ___________________

                                       -2-

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