Document:

Untitled Document

Exhibit 10.2* 

SUMMARY OF
2006 CASH AND EQUITY INCENTIVE COMPENSATION  ARRANGEMENTS

     On
January 24, 2006, Eden Bioscience's Board of  Directors approved a 2006 cash and equity
incentive  compensation arrangement for Dr. Rhett A. Atkins, our  President and Chief
Executive Officer.  The arrangement  provides for cash and equity awards based on the
achievement  of specified annual net revenue goals for the year ending  December 31,
2006.  Under the arrangement, Mr. Aktkins can  earn a cash bonus of between $54,000, if
the minimum revenue  goal is achieved, and $90,000, if the maximum revenue goal  is
achieved.  In addition, Mr. Aktkins will be granted fully  vested stock options to
purchase between 16,666 shares of  our common stock, if the minimum revenue goal is
achieved,  and 41,666 shares if the maximum revenue goal is achieved.  Stock options
granted under the arrangement will be granted  pursuant to our Amended and Restated 2000
Stock Incentive  Plan and will have an exercise price equal to the fair  market value of
our common stock on the date of grant. 

     On
March 14, 2006, the Board of Directors added Dr.  Zhongmin Wei, our Vice President and
Chief Science Officer,  and Bradley S. Powell, our Vice President and Chief  Financial
Officer, to the 2006 cash and equity incentive  compensation arrangement.  Under the
arrangement, Dr. Wei  and Mr. Powell will each be awarded 50% of the cash and  equity
awards, if any, granted to Dr. Atkins, based on  achievement of the same annual net
revenue goals for 2006. 

- 21 -NOT VALID UNLESS COUNTERSIGNED BY TRANSFER AGENT
              INCORPORATED UNDER THE LAWS OF THE STATE OF OKLAHOMA

                                                           ---------------------
                                                           CUSIP NO. 51805Q 10 2
                                                           ---------------------

========                                                                ========
 NUMBER                                                                  SHARES

  0366                                                                  **VOID**
========                                                                ========

                             LASER ENERGETICS, INC.

                  AUTHORIZED COMMON STOCK: 720,000,000 SHARES
                                PAR VALUE: $0.001

THIS CERTIFIES THAT         S P E C I M E N   C E R T I F I C A T E

IS THE RECORD HOLDER OF                 ******VOID********

          -- Shares of Laser Energetics, Inc. - Class A Common Stock --

transferable on the books of the Corporation in person or by duly authorized
attorney upon surrender of this Certificate properly endorsed. This Certificate
is not valid until countersigned by the Transfer Agent and registered by the
Registar

      Witness the facsimile seal of the Coporation and the facsimile signatures
of its duly authorized officers

Dated: ****VOID****

/s/ Dominic C. Battisti                               /s/ Robert D. Battis
--------------------------           [SEAL]           --------------------------
                 SECRETARY                                             PRESIDENT

NOT VALID UNLESS COUNTERSIGNED BY TRANSFER AGENT

                   Countersigned & Registered:
                   INTERSTATE TRANSFER COMPANY
                 6084 South 900 East, Suite 101     By__________________________
                    Salt Lake City, UT 84121             Authorized Signature
                          [ILLEGIBLE]

<PAGE>

NOTICE: Signature must be guaranteed by a firm which is a member of a registered
        national stock exchange, or by a bank (other than a savings bank), or a
        trust company. The following abbreviations, when used in the inscription
        on the face of this certificate, shall be construed as though they were
        written out in full according to applicable laws or regulations.

TEN COM -- as tenants in common             UNIF GIFT MIN ACT -- Custodian
TEN ENT -- as tenants by the entireties           (Cust)          (Minor)
JT TEN -- as joint tenants with right of          under Uniform Gifts to Minors
survivorship and not as tenants in common         Act..........................
                                                              (State)

     Additional abbreviations may also be used though not in the above list.

      For Value Received, ________________ hereby sell, assign and transfer unto

PLEASE INSERT SOCIAL SECURITY OR OTHER
   IDENTIFYING NUMBER OF ASSIGNEE
______________________________________

______________________________________

________________________________________________________________________________
  {PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS, INCLUDING ZIP CODE, OR ASSIGNEE)

________________________________________________________________________________

________________________________________________________________________________

_________________________________________________________________________ Shares
of the capital stock represented by the within certificate, and do hereby
irrevocably constitute and appoint

_______________________________________________________________________ Attorney
to transfer the said stock on the books of the within named Corporation with
full power of substitution in the premises.

Dated ______________________________

          ______________________________________________________________________
          NOTICE: THE SIGNATURE TO THIS ASSIGNMENT MUST CORRESPOND WITH THE NAME
                  AS WRITTEN UPON THE FACE OF THE CERTIFICATE IN EVERY
                  PARTICULAR WITHOUT ALTERATION OR ENLARGEMENT OR ANY CHANGE
                  WHATEVER.PROMISSORY NOTE

$60,000.00                                               Dated: November 1, 1995
                                                   Hamilton Township, New Jersey

      FOR VALUE RECEIVED, the undersigned, LASER ENERGETICS, INC., a Florida
corporation having its principal office at 7 Goldenrod Court, Hamilton Township,
New Jersey 08690 (the "Maker'), hereby promises to pay to the order of ROBERT D.
BATTIS (the "Payee"), at 7 Goldenrod Court, Hamilton Township, New Jersey 08690,
or at such other place as the Payee from time to time may designate, the sum of
Sixty Thousand Dollars and 00/100 ($60,000.00), together with interest at the
rate of six and five tenth percent (6.5%) per annum, which principal and
interest are to be paid as set forth below, in such coin or currency of the
United States of America as, at the time of payment, shall be legal tender for
the payment of public and private debts.

      1. Principal and interest shall be due and payable on or before the
earlier of: (1) the 90th day following the Maker's common stock being publicly
traded; or (2) November 1, 2000.

      2. This Promissory Note (the "Note") may be paid in whole or in part, with
accrued but unpaid interest to the date of prepayment, at any time without
penalty.

      3. Upon the occurrence of any Event of Default as defined in paragraph 4
below, the entire principal balance then due and owing under this Note, together
with the then accrued interest thereon, shall at the option of the Payee, be
immediately due and payable, without notice or demand of any kind.

      4. For purposes of this Note, an Event of Default means any of the
following:

            (a) Default in the payment of any installment due hereunder when the
same shall be due and payable and which shall not be cured within 20 calendar
days after written notice of such default has been given to the Maker; or

            (b) The entry of a decree or Order for relief by a court of
competent jurisdiction in any involuntary case under any applicable bankruptcy,
insolvency or other similar law now or hereafter in effect; or the appointing of
a receiver, liquidator, assignee, custodian, trustee (or other similar official)
for the Maker, which decree, order, or appointment shall not have been dismissed
within 60 days from the making thereof; or the commencement by the Maker of a
voluntary case under any applicable bankruptcy, insolvency or other similar law
now or hereafter in effect; or the making, by the Maker, of an assignment for
the benefit of creditors; or the consent by the Maker to the entry of any Order
for relief in an involuntary case under any such law or to the appointment or

<PAGE>

taking possession by a receiver, liquidator, assignee, trustee, custodian (or
other similar official) for the Maker of any substantial part of its property;
or the failure of the Maker to pay its debts as such debts become due; or the
taking of corporate action by the Maker in furtherance of any of the foregoing;
or

            (c) The adoption by the Maker of any resolution, or any act taken by
the Maker, to dissolve or to wind up its affairs.

      5. This Note is executed and delivered in the State of New Jersey and
shall be governed in all respects by the laws of the State of New Jersey.

      6. In the event of the sale of substantially all of the assets of the
Maker other than in the ordinary course of business the net proceeds of such
sale shall, after the discharge of any obligations of the Maker to financial
institutions, be used to pay down the principal and any accrued but unpaid
interest of this Note in inverse order of maturity of the installments then
outstanding. The payment shall first be applied to accrued but unpaid interest
then to unpaid principal. Such payment shall be made within sixty (60) days of
the closing of any such sale.

      7. The Maker hereby acknowledges receipt of a copy of this Note.

      IN WITNESS WHEREOF, the Maker has caused this Note to be duly executed by
its duly authorized officers.

ATTEST:                                          LASER ENERGETICS, INC.

                                                 By: /s/ Robert D. Battis
----------------------------                         ---------------------------
                                                     Robert D. Battis, President
(Corporate Seal)

                                     - 2 -

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00103-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00103-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00103-of-00352.parquet"}]]