Document:

Filed by Automated Filing Services Inc. (604) 609-0244 - Global Energy Inc. - Exhibit 10.10

As of March 20, 2008 

Global Energy, Inc. 
Migdal Aviv 
7 Abba Hilel Street

Ramat Gan, 52520 
Israel 

Re: Waivers to Securities Purchase
Agreement dated as of July 6, 2007 

Gentlemen: 

     Reference is made to that certain
Securities Purchase Agreement, dated as of July 6, 2007 (as amended and in
effect from time to time, the “Securities Purchase Agreement”), by and
between Global Energy, Inc. (the “Company”) and YA Global Investments,
L.P., (the “Investor”). Capitalized terms used herein and not otherwise
defined herein shall have the meanings set forth in the Securities Purchase
Agreement. 

     Pursuant to the Securities
Purchase Agreement, the Company shall issue and sell to the Investor $1,000,000
of Convertible Debentures at the Fourth Closing, which closing shall take place
upon the satisfaction of certain conditions, including the effectiveness of the
Registration Statement. The Registration Statement has not yet been declared
effective, however, the Company has requested that the Investor close on the
purchase of $500,000 of Convertible Debentures prior to the effectiveness of the
Registration Statement and close of the purchase of the remaining $500,000 after
the effectiveness of the Registration Statement, and the Lender has agreed to do
so, but only on the express terms of this letter agreement. Accordingly, for
good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the Company and the Investor agree as follows: 

	 	1. 	
      Funding. The Company represents and warrants that
      as of the date hereof, all conditions to the Fourth Closing have been
      satisfied, except for the condition set forth in Section 7(d)(vi) of the
      Securities Purchase Agreement relating to the effectiveness of the
      Registration Statement. On the date hereof, Company and the Investor shall
      close on the purchase and sale of $500,000 of the Convertible Debentures
      which were to be issued and sold on the Fourth Closing and the remainder
      of the amount of the Fourth Closing shall remain unchanged (i.e. it shall
      close within 3 business days of the effective date of the Registration
      Statement, subject to the satisfaction of the conditions to the Fourth
      Closing). 

	 	  	
      

	 	2. 	
      The Conversion Price (as defined in the Convertible
      Debentures) shall be amended to equal $1.25, or as subsequently adjusted
      as provided in the Convertible Debentures. 

	 	  	
      

	 	3. 	
      The Warrant Exercise Price (as defined in the Warrants)
      shall be amended to equal $1.25 or as subsequently adjusted as provided in
      the Warrant. 

	 	4. 	
      Ratification; Waiver; Representations. The Company
      hereby (a) acknowledges, confirms, and agrees that, except as specifically
      modified herein, the Securities Purchase Agreement, the other Transaction
      Documents and all other documents related thereto or executed in
      connection therewith remain in full force and effect, and confirms and
      ratifies each of the terms thereof, (b) acknowledges, confirms and agrees
      that the Company remains liable for all amounts owed pursuant to the
      Securities Purchase Agreement and Convertible Debentures issued thereunder
      without any offsets, defenses, claims, or counterclaims with respect
      thereto, and (c) represents and warrants to the Issuer that no Event of
      Default exists, or solely with the passage of time or notice, would exist
      under the Securities Purchase Agreement, the Convertible Debentures, or
      the other Transaction Documents.

     This letter agreement is intended
to be executed under seal as of the date set forth above. If this letter
agreement sets forth our understanding, please execute this letter agreement
where indicated below. 

	 	YA GLOBAL INVESTMENTS, L.P. 
	 	  
	 	By: Yorkville Advisors, LLC 
	 	Its: Investment Manager 
	 	  
	 	  
	 	By: ________________
	 	Name: 
	 	Title: 
	 	  
	 	  
	 	ACCEPTED AND AGREED: 
	 	  
	 	GLOBAL ENERGY, INC. 
	 	  
	 	By: /s/ Asi Shalgi
  
	 	Name: Asi Shalgi 
	 	Title: Chief Executive OfficerFiled by Automated Filing Services Inc. (604) 609-0244 - Global Energy Inc. - Exhibit 10.11

GLOBAL ENERGY, INC. 

AMENDMENT NO. 1 
to 
WARRANT 

THIS WARRANT AMENDMENT SHOULD BE ATTACHED TO THE

ORIGINAL WARRANT CERTIFICATE 

     This Amendment No. 1 to Warrant
(this “Amendment”) dated March 20, 2008 is issued in connection with that
Warrant (No. GEYI-1-1) (the “Warrant”) originally issued on July 6, 2007
by Global Energy, Inc. (the “Company”) to YA Global Investments, L.P.
(f/k/a Cornell Capital Partners, L.P.) (the “Holder”) to purchase 300,000
shares of commons stock of the Company. Capitalized terms used but not defined
herein have the meaning given thereto in the Warrant.

THIS CERTIFIES THAT, the following amendments are hereby
made to the Warrant: 

	The term “Warrant Exercise Price” set forth in Section 1(b)(xiv) shall be
  deleted and replaced with the following:

“Warrant Exercise
  Price” shall be $1.25 or as subsequently adjusted as provided in Section 8
  hereof. 

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

	 	GLOBAL ENERGY, INC. 
	 	  	  
	 	  	  
	 	By: 	/s/ Asi Shalgi 
	 	Name: 	Asi Shalgi 
	 	Title: 	Chief Executive Officer

GLOBAL ENERGY, INC. 

AMENDMENT NO. 1 
to 
AMENDED AND RESTATED
SECURED CONVERTIBLE DEBENTURE 

THIS AMENDMENT SHOULD BE ATTACHED TO THE 
ORIGINAL
AMENDED AND RESTATED SECURED
CONVERTIBLE DEBENTURE
CERTIFICATE 

     This Amendment No. 1 to the
Amended and Restated Secured Convertible Debenture (this “Amendment”)
dated March 20, 2008 is issued in connection with that Amended and Restated
Secured Convertible Debenture (No. GEYI-1-1) (the “Debenture”) originally
issued on July 10, 2007 by Global Energy, Inc. (the “Company”) to YA
Global Investments, L.P. (f/k/a Cornell Capital Partners, L.P.) (the
“Holder”). Capitalized terms used but not defined herein have the meaning
given thereto in the Warrant.

     THIS CERTIFIES THAT, the
following amendments are hereby made to the Amended and Restated Secured
Convertible Debenture: 

	The term “Conversion Price” set forth in Section 4(a)(ii) shall be deleted
  and replaced with the following:

“Conversion Price” means, as of
  any Conversion Date (as defined below) or other date of determination, $1.25,
  subject to adjustment as provided herein. 

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

	 	GLOBAL ENERGY, INC. 
	 	  	  
	 	  	  
	 	By: 	/s/
      Asi Shalgi
	 	Name: 	Asi Shalgi 
	 	Title: 	Chief Executive OfficerFiled by Automated Filing Services Inc. (604) 609-0244 - Global Energy Inc. - Exhibit 10.12

GLOBAL ENERGY, INC. 

AMENDMENT NO. 1 
to 
WARRANT 

THIS WARRANT AMENDMENT SHOULD BE ATTACHED TO THE

ORIGINAL WARRANT CERTIFICATE 

     This Amendment No. 1 to Warrant
(this “Amendment”) dated March 20, 2008 is issued in connection with that
Warrant (No. GEYI-1-2) (the “Warrant”) originally issued on July 6, 2007
by Global Energy, Inc. (the “Company”) to YA Global Investments, L.P.
(f/k/a Cornell Capital Partners, L.P.) (the “Holder”) to purchase 300,000
shares of commons stock of the Company. Capitalized terms used but not defined
herein have the meaning given thereto in the Warrant.

     THIS CERTIFIES THAT, the
  following amendments are hereby made to the Warrant: 

	The term “Warrant Exercise Price” set forth in Section 1(b)(xiv) shall be
  deleted and replaced with the following:

“Warrant Exercise
  Price” shall be $1.25 or as subsequently adjusted as provided in Section 8
  hereof. 

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

	 	GLOBAL ENERGY, INC. 
	 	  	  
	 	  	  
	 	By: 	/s/ Asi Shalgi 
	 	Name: 	Asi Shalgi 
	 	Title: 	Chief Executive Officer

GLOBAL ENERGY, INC. 

AMENDMENT NO. 1 
to 
SECURED CONVERTIBLE
DEBENTURE 

THIS AMENDMENT SHOULD BE ATTACHED TO THE 
ORIGINAL
SECURED CONVERTIBLE DEBENTURE CERTIFICATE 

     This Amendment No. 1 to the
Secured Convertible Debenture (this “Amendment”) dated March 20, 2008 is
issued in connection with that Secured Convertible Debenture (No. GEYI-1-2) (the
“Debenture”) originally issued on October 23, 2007 by Global Energy, Inc.
(the “Company”) to YA Global Investments, L.P. (f/k/a Cornell Capital
Partners, L.P.) (the “Holder”). Capitalized terms used but not defined
herein have the meaning given thereto in the Warrant.

     THIS CERTIFIES THAT, the
following amendments are hereby made to the Amended and Restated Secured
Convertible Debenture: 

	The term “Conversion Price” set forth in Section 4(a)(ii) shall be deleted
  and replaced with the following:

“Conversion Price” means, as of
  any Conversion Date (as defined below) or other date of determination, $1.25,
  subject to adjustment as provided herein. 

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

	 	GLOBAL ENERGY, INC. 
	 	  	  
	 	  	  
	 	By: 	/s/ Asi Shalgi 
	 	Name: 	Asi Shalgi 
	 	Title: 	Chief Executive OfficerFiled by Automated Filing Services Inc. (604) 609-0244 - Global Energy Inc. - Exhibit 10.13

GLOBAL ENERGY, INC. 

AMENDMENT NO. 1 
to 
SECURED CONVERTIBLE
DEBENTURE 

THIS AMENDMENT SHOULD BE ATTACHED TO THE 
ORIGINAL
SECURED CONVERTIBLE DEBENTURE CERTIFICATE 

     This Amendment No. 1 to the
Secured Convertible Debenture (this “Amendment”) dated March 20, 2008 is
issued in connection with that Secured Convertible Debenture (No. GEYI-1-3) (the
“Debenture”) originally issued on December 7, 2007 by Global Energy, Inc.
(the “Company”) to YA Global Investments, L.P. (f/k/a Cornell Capital
Partners, L.P.) (the “Holder”). Capitalized terms used but not defined
herein have the meaning given thereto in the Warrant.

     THIS CERTIFIES THAT, the
following amendments are hereby made to the Amended and Restated Secured
Convertible Debenture: 

	The term “Conversion Price” set forth in Section 4(a)(ii) shall be deleted
  and replaced with the following:

“Conversion Price” means, as of
  any Conversion Date (as defined below) or other date of determination, $1.25,
  subject to adjustment as provided herein. 

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

	 	GLOBAL ENERGY, INC. 
	 	  	  
	 	  	  
	 	By: 	/s/ Asi Shalgi 
	 	Name: 	Asi Shalgi 
	 	Title: 	Chief Executive Officer

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