Document:

Aramark Savings Incentive Retirement Plan

 Exhibit 4.1 
 ARAMARK Savings Incentive Retirement Plan 
 (A Successor Plan to the “ARAMARK 2005 Stock Unit
Retirement Plan”) 
 Effective as of February 6, 2007 
 Table of Contents 
  

					
	 ARTICLE I.
	  	Definitions and Construction.	  	1
			
	 ARTICLE II.
	  	Participation.	  	4
			
	 ARTICLE III.
	  	Employee Salary Deferrals.	  	5
			
	 ARTICLE IV.
	  	Matching Contributions.	  	6
			
	 ARTICLE V.
	  	Accounts and Investment Treatment of Deferred Compensation.	  	6
			
	 ARTICLE VI.
	  	Distribution on Separation from Service.	  	7
			
	 ARTICLE VII.
	  	Withdrawals During Employment.	  	8
			
	 ARTICLE VIII.
	  	Breaks in Service.	  	8
			
	 ARTICLE IX.
	  	Administration.	  	8
			
	 ARTICLE X.
	  	No Segregation of Assets	  	11
			
	 ARTICLE XI.
	  	Amendment and Termination.	  	11
			
	 ARTICLE XII.
	  	Miscellaneous.	  	11

 ARTICLE I. Definitions and Construction. 
 1.1 Definitions. Whenever used in this Plan: 
 Account means any account established for a
Participant as provided in Section 5.1. 
 Account Balance means for each Participant, the total balance standing to the
Participant’s Accounts under the Plan at the date of reference. 
 Affiliate means, with respect to any Company, (a) any corporation
(other than such Company) that is a member of a controlled group of corporations (within the meaning of Section 414(b) of the Code), of which such Company is a member; (b) any other related corporation designated as an affiliate by the
Parent Company; or (c) an organization which is a member of an affiliated service group of which the Company is a member. 
 Age means age
on last birthday. 
 Approved Form means the form or online process provided, in a manner prescribed by the Committee, for a particular
purpose. 
 ARAMARK means ARAMARK Services, Inc., a Delaware corporation. 
 Basic Salary Deferrals means, for each Participant, the deferrals authorized by the Participant in accordance with Section 3.1(a). 
 Break in Service means, for an Employee or a former Employee, a period of at least twelve consecutive months during which such individual is not an Employee. Employees shall be given credit for periods
of employment with Parent Company and its Affiliates (and any respective predecessor entities) prior to the Merger. 
 Change in Control shall
have the meaning ascribed to it in the ARAMARK Holdings Corporation 2007 Management Stock Incentive Plan. 
 Code means the Internal Revenue
Code of 1986, as amended from time to time. 
 Committee means the Committee described in Section 9.2. 
 Company means, each with respect to its own employees, ARAMARK and such subsidiary or affiliated companies as may from time to time participate in the Plan
by authorization of the Parent Company. 
 Compensation means, for any Eligible Employee for any Plan Year, such Eligible Employee’s
annual base salary and sales commissions (including amounts allocable to paid time off for vacations, holidays, sick leave, and salary deferrals under the ARAMARK 2005 Deferred Compensation Plan and excluding overtime, shift differentials,
commissions other than sales commissions, pay allowances, deferred compensation, bonuses and related benefits) earned from the Company and paid to the Employee, computed before reduction by Salary Deferrals under Section 3.1 of this Plan.

 Covered Employee means an Employee employed by the Company or an Affiliate on a salaried basis who is not (a) an employee employed by a
joint venture in which the Company is a joint venturer, or (b) a person in a position designated by the Company or Affiliate as a “Consultant.” An Employee who is neither a United States citizen nor a United States resident shall not
become a Covered Employee. 

 Early Retirement means, for any Employee, (a) attainment of Age 60 and completion of five or more
Years of Service, or (b) incurrence of a total and permanent disability. 
 Effective Date means February 6, 2007. 
 Eligible Employee means a Covered Employee who is eligible to make contributions under the Plan as provided in Article II. 
 Employee means any person employed by the Company or an Affiliate. 
 Employment Date means, for each Employee, the first day on which the Employee completes an hour for which the Employee is paid or entitled to payment, direct or indirect, from the Company or Affiliate (or the former ARAMARK
Corporation or one of its Affiliates, if the Employee was employed by ARAMARK Corporation or one of its Affiliates prior to the Merger), for the performance of duties. If an Employee’s Years of Service are canceled under Section 8.1 and
cannot be restored (because the Employee cannot satisfy the requirement of Section 8.1(b)), the Employee’s Employment Date shall be the first day thereafter on which the Employee completes such an hour. 
 Fiscal Year means the fiscal year of the Parent Company. 
 Key Employee means any individual specifically approved for participation in this Plan in accordance with the Rules and who is a management or highly compensated employee. 
 Matching Contributions Account means, for each Participant, the Account established under Section 5.3 to credit the Company’s contributions under
Section 4.1. 
 Merger means the merger of RMK Acquisition Corporation, RMK Finance LLC and ARAMARK Corporation which occurred on
January 26, 2007. 
 Normal Retirement means, for any Employee, attainment of Age 65. 
 Parent Company means ARAMARK Corporation, a Delaware corporation. 
 Participant means an Employee or former Employee who has an Account Balance under the Plan. 
 Period of Service means,
for any Employee, the elapsed time between the Employee’s Employment Date and the date of reference, inclusive, disregarding any Break in Service or any period during which such individual is not an Employee to the extent such period falls
within a period of at least twelve consecutive months in which the Employee has a Separation from Service by reason of resignation, discharge, or retirement and completes no hours for which the Employee is paid or entitled to payment, direct or
indirect, for the performance of duties. Where any portion of an Employee’s Period of Service is to be disregarded in determining Years of Service so that non-successive periods must be aggregated, less than whole year periods shall be
aggregated on the basis that 365 days equal a whole year. Employees shall be given credit for periods of employment with the former ARAMARK Corporation or one of its Affiliates prior to the Merger. 
 Period of Severance means, for any former Employee, the elapsed time between the former Employee’s Separation from Service and the date the former
Employee again becomes an Employee. 
 Plan means the ARAMARK Saving Incentive Retirement Plan. 

 Plan Administrative Committee means the Committee described in Article IX which is charged with the
responsibilities of administering the Plan in accordance with the Rules. As of the Effective Date, the Corporate Governance and Human Resources Committee shall be the Plan Administrative Committee. 
 Plan Year means each twelve-consecutive-month period ending on September 30. 
 Prior Plans means the Amended and Restated ARAMARK 2001 Stock Unit Retirement Plan and the ARAMARK 2005 Stock Unit Retirement Plan. 
 Qualified Retirement Plan means any retirement plan maintained by the Company that is qualified under Code Section 401(a). 
 Retirement Savings Plan means the ARAMARK Retirement Savings Plan for Salaried Employees, a Qualified Retirement Plan under which contributions are made pursuant to Code Section 401(k). 

Rules means the rules adopted by the Plan Administrative Committee relating to the administration of the Plan. 
 Salary Deferral Account means, for each Participant, the Account established for crediting the portion of the Participant’s Account Balance
attributable to Salary Deferrals as provided in Section 5.1. 
 Salary Deferral Percentage(s) means the percentage(s) of a
Participant’s Compensation that the Participant elects to defer under Section 3.1(a) and/or 3.1(b). 
 Salary Deferrals means, for
each Participant, the deferrals authorized by the Participant as provided in Section 3.1(a) and/or 3.1(b). 
 Separation from Service
means termination of an Employee’s status as an Employee (which for these purposes also shall relate to the Employee’s status as an employee of any Company or predecessor entity thereto, measured from the earlier of (a) the date the
Employee terminates employment, or (b) the first anniversary of the first day of absence for any other reason. In the case of an Employee who is absent from work for maternity or paternity reasons, the twelve-consecutive month period beginning
on the first anniversary of the first date of such absence shall not constitute a Break in Service. For purposes of this paragraph, an absence from work for maternity or paternity reasons means an absence due to pregnancy of the Employee; a birth of
a child to the Employee; placement of a child with the Employee in connection with the adoption of such child by the Employee; or care for such child for the period beginning immediately following birth or placement. 
 Sharing Participant means, for any Plan Year, a person who is an Eligible Employee on the last day of the Plan Year (or is absent for reasons not
constituting a Separation from Service); or who has died during the Plan Year while an Eligible Employee of the Company; or who has retired on account of Early or Normal Retirement; or who was an Eligible Employee during the Plan Year and who is an
Employee (other than an Eligible Employee) on the last day of the Plan Year, provided, however, that such Employee’s Compensation shall be determined by reference to the Employee’s Compensation paid during the Employee’s service as an
Eligible Employee. The term Sharing Participant shall not include any Employee who has not yet completed one Year of Service. 
 Specified Participant
means a Participant who is a key employee (as defined in Section 416(i) of the Code without regard to paragraph (5) thereof). 

 Unforeseeable Emergency means a severe financial hardship to the Participant resulting from an illness or
accident of the Participant, the Participant’s spouse or a dependent (as defined in Section 152(a) of the Code) of the Participant, loss of the Participant’s property due to casualty or other similar extraordinary and unforeseeable
circumstances arising as a result of events beyond the control of the Participant. 
 Year of Participation means, for any Employee, twelve
consecutive months during which the Employee is a participant under this Plan, any Prior Plan or any twelve consecutive month period during which the Employee participated in any Qualified Retirement Plan. 
 Year of Service refers to a credit used to determine whether a Participant is eligible for a Company contribution or has sufficient service to have a
nonforfeitable interest in the Participant’s Account Balance attributable to the Participant’s Matching Contributions Account. Each Employee shall be credited with a number of Years of Service equal to the length of the Participant’s
Period of Service, except that the following shall be disregarded: 
 (a) any Break in Service (including any period immediately following a
Separation from Service which has lasted less than twelve months as of the date of reference but ultimately does last at least twelve months); and 
 (b) any period for which the Employee’s Years of Service are canceled under Section 8.3 and are not restored under that Section. 
 1.2
Gender. The masculine gender shall include the feminine. 
 1.3 Notices. Any notice or filing to be made with the Committee or any
Company shall be made in accordance with the Rules. 
 ARTICLE II. Participation. 
 2.1 Eligible Employees. Each Covered Employee who was eligible to participate in the Prior Plan immediately prior to the Effective Date also shall be eligible to participate in this Plan as of the
Effective Date. Each other Covered Employee who satisfies the following requirements shall be eligible to participate in the Plan as of the date the Covered Employee first satisfies such requirements: 
 (a) the Employee is identified as a Key Employee, and 
 (b) the Employee is in active employment. 
 Covered Employees who satisfy the foregoing requirements shall be eligible to
participate in the Plan on the first day of the month following one full calendar month during which the Covered Employee meets the requirements. 
 2.2
Participation. Participation in the Plan by an Eligible Employee is entirely voluntary and is subject to the following rules: 
 (a) Participation on Effective Date of Employees who Participated in Prior Plans. Each Employee who becomes eligible to participate in the Plan as of the Effective Date as a result of such Employee’s participation in the Prior
Plans, as described in Section 2.1 above, shall be deemed to have elected to participate in this Plan as of the Effective Date, and such Employee’s elections under the Prior Plans, including any Salary Deferral elections and beneficiary
designations, as in effect immediately prior to the 

 
Effective Date, shall continue to apply under this Plan until changed by the Participant in accordance with the provisions of this Plan. Any other Eligible
Employee that did not participate as of the Effective Date may elect to participate at a later date, in accordance with the provisions of this Plan, by completing and submitting an Approved Form, provided such individual is an Eligible Employee at
such later date. 
 (b) Participation on or after Effective Date of Newly-Eligible Employees. Any Employee who first becomes eligible
to participate in the Plan on or after the Effective Date may elect to participate at any time prior to the 30th day after the Employee completes the eligibility requirements of Section 2.1; provided, such Employee is an Eligible Employee at
the time the Employee elects to participate. 
 (c) Participation on or after Effective Date of all Other Employees. Each Eligible
Employee that does not become a Participant under Section 2.2(a) or (b) may elect to become a Participant as of the first day of any succeeding calendar year by electing to make deferrals as set forth in Article III. 
 (d) Effective Date of Participation. The effective date of an Employee’s participation in the Plan shall be the first day of the payroll
period immediately following the date an Eligible Employee files notice with the Plan Administrative Committee pursuant to Section 2.2(a), (b) or (c) above. 
 (e) Continuation of Participation. If an Employee who becomes a participant of this Plan ceases to be a Key Employee, the Employee’s
eligibility for continued participation in this Plan shall be subject to the Rules. 
 (f) No Duplication of Participation.
Notwithstanding the foregoing provisions of this Article, any Employee who is eligible to participate in a Qualified Retirement Plan shall not be eligible to participate in this Plan for the same period. 
 (g) Exceptions to Participation Requirements. The Plan Administrative Committee, acting in accordance with the Rules, may waive the eligibility
requirements of Section 2.1 with respect to any individuals the Committee specifically designates. 
 2.3 Beneficiary Designation. Each
Participant shall designate the beneficiary or beneficiaries who shall receive the death benefit, if any, payable under Section 6.2. Such designation shall be made by filing an Approved Form for that purpose in accordance with the Rules. A
Participant who previously had participated in the Prior Plan shall be deemed to have designated the beneficiary or beneficiaries of the Prior Plan as his or her beneficiary under this Plan unless and until such Participant shall have made a
subsequent designation of a beneficiary. A Participant may also revoke or change a beneficiary designation at any time by filing an Approved Form in accordance with the Rules. If a Participant fails to elect a beneficiary, or is not survived by a
designated beneficiary, the Participant’s beneficiary shall be the Participant’s estate. 
 ARTICLE III. Employee Salary Deferrals.

 3.1 Salary Deferrals. 
 (a)
Salary Deferrals. Under an election procedure established by the Committee, each Eligible Employee who is participating in the Plan may direct the Company to defer a percentage of the Eligible Employee’s Compensation. The amount of the
Salary Deferrals under this Section for an Eligible Employee shall be at least 1% of the Eligible Employee’s Compensation for the period to which the election applies, and may, in multiples of 1%, be up to 25% (or such higher percentage as the
Parent Company may select from time to time) of the Eligible Employee’s Compensation. 

 (b) Notice to Plan Administrative Committee. An Eligible Employee who wishes to defer Compensation
under this Section for any period shall, in the manner specified in the Rules, so notify the Plan Administrative Committee and authorize the Committee to reduce the Eligible Employee’s Compensation for such period by the amount of the Eligible
Employee’s Salary Deferral Percentage election provided, however, that except as provided in Section 2.2(a) such Eligible Employee’s election to defer such Compensation must be made not later than the close of the preceding calendar
year, unless the Eligible Employee first becomes a participant pursuant to Section 2.2(b), in which case such Eligible Employee must make an election to defer any as yet unearned Compensation at any time prior to the 30th day after the date
such Eligible Employee becomes eligible to participate in the Plan. 
 3.2 Change in Contributions. A Participant is not permitted to stop,
increase, decrease or resume the Participant’s Salary Deferral Percentage(s) during the calendar year, unless the Participant has incurred a Separation from Service or the Participant is no longer eligible to participate in the Plan, in which
case the Participant’s Salary Deferrals will immediately cease. 
 ARTICLE IV. Matching Contributions. 
 4.1 Amount of Contributions. As soon as administratively practicable after the end of each Plan Year, the Parent Company may make a discretionary matching
contribution (“Matching Contributions”) to the Matching Contributions Accounts of Sharing Participants of between a minimum of 25% and a maximum of 75% of such Sharing Participants’ Salary Deferrals for such Plan Year, excluding:

 (a) Salary Deferrals made by the Sharing Participant prior to such Sharing Participant’s completion of one Year of Service;

 (b) Salary Deferrals in excess of the first 6% of a Participant’s Compensation for any payroll period; and 
 (c) Salary Deferrals in excess of the maximum elective deferrals permitted under a qualified cash or deferred plan pursuant to Section 401(g) of the
Code for the calendar year in which the Plan Year ends. 
 The percentage of Salary Deferrals on which the amount of Matching Contributions is to be based
shall be the matching percentage contributed by the Parent Company to the Retirement Savings Plan for the same Fiscal Year. 
 4.2 Allocations to
Participants. Matching Contributions made with respect to a Plan Year shall be credited only to the Matching Contributions Account of each Participant who is a Sharing Participant for the Plan Year based upon the Participant’s Salary
Deferral for such Plan Year. 
 ARTICLE V. Accounts and Investment Treatment of Deferred Compensation.  
 5.1 Credits to Participants’ Accounts. Accounts shall be established for each Participant. Each Participant’s Salary Deferrals shall be credited
to the Participant’s Salary Deferral Account and each Participant’s Matching Contributions shall be credited to the Participant’s Matching Contributions Account. 
 5.2 Interest Credited to Salary Deferrals. Any amount credited to either a Participant’s Salary Deferral Account and Matching Contributions Account shall accrue interest in the manner specified by
the Committee in accordance with the Rules. 

 5.3 Valuation of Salary Deferral and Matching Contributions Accounts. As of the last day of each month or
such shorter period as is specified by the Plan Administrative Committee in accordance with the Rules, all interest accrued during that period shall be credited to the Salary Deferral Accounts and Matching Contributions Accounts of Participants.

 5.4 Effect of Distributions or Withdrawals. If a distribution or withdrawal is made, the payment determination date shall be the last day of
the month (or such shorter period as is specified by the Plan Administrative Committee in accordance with the Rules) in which the distribution is due or the withdrawal is requested. The Participant’s appropriate Account or Accounts shall be
reduced by the amount distributed or withdrawn. Subject to Section 6.5, a distribution or withdrawal shall be paid as soon as reasonably practicable after the payment determination date. The amount due any Participant with respect to the
Participant’s Salary Deferral Account and Matching Contributions Account shall be determined by the valuation under Section 5.3. 
 ARTICLE VI.
Distribution on Separation from Service. 
 6.1 Termination of Employment on Account of Retirement, After Completion of Two Years of
Participation or Three Years of Service, or Following a Change in Control. A Participant’s entire Account Balance may be payable to the Participant, in accordance with Section 6.5, following a Separation from Service but only if
such Separation from Service: (a) is on account of Early or Normal Retirement, (b) except as provided in Section 6.4 below, occurs after the Participant has completed two or more Years of Participation or has been credited with three
or more Years of Service, or (c) occurs on or after, or results in a distribution on or after, a Change in Control. 
 6.2 Death. Upon the
death of a Participant at any time, the Participant’s entire Account Balance shall be payable, in accordance with Section 6.5, to the beneficiary designated or otherwise applicable pursuant to Section 2.3. 
 6.3 Termination of Employment Prior to Completing Two Years of Participation or Three Years of Service and Prior to a Change in Control. Except as provided
in Section 6.1 or Section 6.2, a Participant who ceases to be an Employee before completing two Years of Participation or before receiving credit for three or more Years of Service shall be paid the Participant’s entire Account
Balance other than the Participant’s Matching Contributions Account, which shall be forfeited, in accordance with Section 6.5. 
 6.4
Separation from Service for Cause. A Participant who ceases to be an Employee receiving credit for three or more Years of Service and whose Separation from Service is on account of “cause,” i.e., commission of a crime or other
conduct which directly and adversely affects the Company, or disclosure of confidential information, or other aid and assistance to a competitor of the Company, shall be paid the Participant’s entire Account Balance other than the
Participant’s Matching Contributions Account, which shall be forfeited, in accordance with Section 6.5. The determination of cause under this Section shall be made by the Committee, and shall be final and binding on all parties. This
Section 6.4 shall have no effect following a Change in Control. 
 6.5 Method of Payment. Payment of any Accounts upon a distribution or
withdrawal shall be made in accordance with Section 5.4. Distribution of a Participant’s Accounts may be made in a lump sum cash payment or in installments pursuant to a valid election made by the Participant in accordance with
Section 9.2 and the Rules. Notwithstanding anything in the Plan to the contrary, distributions to Specified Participants, may not be made before the date that is six (6) months after such Specified Participant’s Separation from
Service. 

 ARTICLE VII. Withdrawals During Employment. 
 7.1 Withdrawal of Salary Deferral Account. A Participant may make withdrawals from the Participant’s Salary Deferral Account solely due to the occurrence of an Unforeseeable Emergency if approved by
the Plan Administrative Committee in its sole discretion. The Participant shall certify in writing to the Plan Administrative Committee that the purpose of the withdrawal is due to an Unforeseeable Emergency and shall provide such documentation to
that effect as may be requested by the Plan Administrative Committee to assist it in its determination. The amounts distributed due to an Unforeseeable Emergency cannot exceed the amounts necessary to satisfy such emergency plus amounts necessary to
pay taxes reasonably anticipated as a result of the distribution, after taking into account the extent to which such emergency is or may be relieved through reimbursement or compensation by insurance or otherwise or by liquidation of the
Participant’s assets (to the extent the liquidation of such assets would not itself cause severe financial hardship). 
 7.2 Withdrawal of
Matching Contributions Account. A Participant is not permitted to withdraw any amounts from the Participant’s Matching Contributions Account while still an Employee. 
 ARTICLE VIII. Breaks in Service. 
 8.1 Cancellation of Years of Service. An Employee’s Years
of Service and Years of Participation shall be canceled for purposes of computing the Employee’s nonforfeitable interest in the Employee’s Account Balance under Articles VI and VII if the Employee has a Separation from Service before the
Employee has met the requirements for Early or Normal Retirement, and before the Employee is credited with two Years of Participation, or three Years of Service. If a former Employee again becomes an Employee the Employee’s Years of Service and
Years of Participation shall be restored if the Employee becomes an Employee before incurring five consecutive Breaks in Service, or if the Employee was at any time a Participant in the Plan, and 
 (a) the Employee is credited with a Year of Service after the Employee’s prior Years of Service were canceled; and 
 (b) the Employee had to the Employee’s credit when the Employee’s Years of Service were canceled a Period of Service longer than the
Employee’s longest Period of Severance that follows the date the Employee’s Years of Service were canceled. 
 ARTICLE IX.
Administration. 
 9.1 Overall Responsibility. Parent Company, acting by resolution of its Board of Directors or of a duly authorized
Committee, shall have overall responsibility and authority for the Plan including control and management of the Accounts of the Plan, design of the Plan, the right to amend the Plan, the exercise of all administrative functions provided in the Plan
or necessary to the operation of the Plan, except such functions as are assigned to other persons pursuant to the Plan. 
 9.2 Committee.

 (a) Appointment and Tenure. Parent Company shall appoint a Plan Administrative Committee, which shall consist of not less than
three members, each of whom (1) shall be a member of the Board of Directors of the Parent Company, and (2) shall be a non-employee director (within the meaning of Section (c) (2) of SEC Rule 16b-3, or any successor provision).
The Committee shall 

 
hold office during the pleasure of the Board of Directors of Parent Company, and such Board of Directors shall fill all vacancies on the Committee. As of the
Effective Date, the Corporate Governance and Human Resources Committee of the Board of Directors shall serve as the Plan Administrative Committee. 
 (b) Administrator of the Plan. The Plan Administrative Committee shall be sole administrator of the Plan and as such have sole responsibility and authority to control the operation and administration of the Plan, including, without
limiting the generality of the foregoing, (i) determination of benefit eligibility and amount and certification thereof, (ii) issuance of directions to pay any fees, taxes, charges, or other costs incidental to the operation and management
by the administrator of the Plan; (iii) issuance of directions as to the cash needs of the Plan; (iv) the preparation and filing of all reports required to be filed with any agency of the government; (v) compliance with all disclosure
requirements imposed by law; (vi) maintenance of all books of account, records and other data as may be necessary for proper administration of the Plan, (vii) approval of the amount of employer contribution referred to in Section 4.1,
provided, however, that the Plan Administrative Committee may delegate to other persons such of its functions (other than (vii) above) as it deems appropriate. 
 (c) Rules of Administration. The Plan Administrative Committee shall adopt such Rules and regulations for administration of the Plan as it considers desirable, provided they do not conflict with the Plan, and
may construe the Plan, correct defects, supply omissions and reconcile inconsistencies to the extent necessary to effectuate the Plan and such action shall be conclusive. 
 (d) Claims Procedure. The Committee shall adopt a written procedure whereunder a Participant or beneficiary shall appeal any denial of benefits claimed to be due such Participant or beneficiary. 
 (e) Compensation and Expenses. The members of the Committee shall serve without compensation for services as such, but all normal and reasonable
expenses of the Committee shall be paid by ARAMARK. 
 (f) Reliance on Reports and Certificate. The Committee will be entitled to rely
conclusively upon all tables, valuations, certificates, opinions and reports which will be furnished by any accountant, controller, counsel, or other person who is employed or engaged for such purposes. 
 (g) Liability and Responsibility of Committee. The members of the Committee shall be fully protected in respect to any action taken or suffered by
them in good faith in reliance upon the advice of its advisors. To the extent permitted by law, the Company shall indemnify members of the Committee against any liability or loss sustained by reason of any act or failure to act in such capacity as
Committee members, if such act or failure to act does not involve willful misconduct. Such indemnification includes attorneys’ fees and other costs and expenses reasonably incurred in defense of any action brought against such members by reason
of any such act or failure to act. No bond or other security shall be required of any member of the Committee. 
 (h) Elections to Extend
Deferrals After a Separation from Service. In addition to the other powers and authority granted under this Section 9.2, the Plan Administrative Committee shall be specifically authorized to adopt Rules to allow Participants to elect to
defer those distributions, that would otherwise be payable upon a Separation from Service pursuant to Section 6.1, to a time or times after the Separation from Service. Such Rules may specify the manner in which any such election may be made,
and for example may provide, among other things, that any such election must be made in writing prior to such Separation from Service, on the forms established by the Plan Administrative Committee, and that once made any such election is
irrevocable. Notwithstanding anything herein to the contrary, any election to defer distributions hereunder shall not take effect until at least twelve (12) months following 

 
the date on which such election is made and the first payment with respect to which such election is made must be deferred for a period of not less than five
(5) years from the date such payment would otherwise have been made. 
 9.3 Services of the Plan. Parent Company and the Committee may
contract for legal, investment advisory, medical, accounting, clerical, and other services to carry out the Plan. The costs of such services shall be paid by ARAMARK. 
 9.4 Liability for Administration. Neither the Committee, the Company, Parent Company, nor any of its directors, officers, or employees shall be liable for any loss due to its error or omission in
administration of the Plan unless the loss is due to the gross negligence or willful misconduct of the party to be charged. 

 ARTICLE X. No Segregation of Assets  
 The Plan shall at all times be entirely unfunded and no provision shall at any time be made with respect to segregating assets of the Company, or any Affiliate, for payment of any benefits hereunder. No Participant or
other person shall have any interest in any particular assets of the Company by reason of the right to receive a benefit under the Plan and any such Participant or other person shall have only the rights of a general unsecured creditor of ARAMARK
with respect to any rights under the Plan. 
 ARTICLE XI. Amendment and Termination. 
 11.1 Amendment or Termination of Plan. The Board of Directors of the Parent Company may amend or terminate the Plan at any time. Notwithstanding the
foregoing, effective upon a Change in Control, no amendment or termination of the Plan shall modify, without the consent of the affected Participants, any provision relating to amounts contributed or deferred under the Plan on or prior to the Change
in Control. 
 11.2 Sale of Affiliate. In the event that a Participant in this Plan ceases to be an Employee by reason of the sale or spin-off
of an Affiliate that constitutes a change in the ownership or effective control of, or in the ownership of a substantial portion of the assets of, such Affiliate under Code Section 409A(a)(2)(A)(v), such Participant shall be treated as a
terminated employee and distribution of the Participant’s Account Balance under this Plan shall be made in accordance with Article VI. 
 ARTICLE
XII. Miscellaneous. 
 12.1 No Assignment or Alienation of Benefits. Except as hereinafter provided with respect to domestic
relations orders (as defined in Section 414(p)(1)(B) of the Code), a Participant’s Account may not be voluntarily or involuntarily assigned or alienated. In cases of domestic relations orders, the Company will observe the terms of the Plan
unless or until ordered to do otherwise by a state or Federal court. As a condition of participation, a Participant agrees to hold the Company harmless from any claims that arise out of the Company’s obeying the final order of any state or
Federal court, whether such order effects a judgment of such court or is issued to enforce a judgment or order of another court. In addition, for application only to Plan Participants subject to Section 16 of the Securities Exchange Act of
1934, the requirements of SEC Rule 16a-12 (or any successor provision) are specifically incorporated herein by reference. 
 12.2 Effect on
Employment. This Plan shall not confer upon any person any right to be continued in the employment of the Company or an Affiliate. 
 12.3
Facility of Payment. If ARAMARK deems any person incapable of receiving benefits to which such person is entitled by reason of age of minority, illness, infirmity, or other incapacity, it may direct that payment be made directly for the
benefit of such person or to any person selected by ARAMARK to disburse it, whose receipt shall be a complete acquittance therefore. Such payments shall, to the extent thereof, discharge all liability of ARAMARK, the Company, and the party making
the payment. 
 12.4 Tax Withholding. Distributions from the Plan may be subject to tax withholding for Federal, state, and local taxes.
Participant, by agreeing to participate in the Plan, consents to the timely withholding of such taxes, either through a reduction in the amount of the distribution, withholding from other amounts payable by Company to Participant, including salary
and bonus payments, or by payment to ARAMARK in cash of an appropriate amount in taxes. 

 12.5 Applicable Law. Except as provided by Federal law, the Plan shall be governed by and construed in
accordance with the laws of the Commonwealth of Pennsylvania, except for provisions relating to Employer Common Stock, which shall be governed by and construed in accordance with the laws of the State of Delaware. 
 12.6 Effective Date. The foregoing provisions of this Plan shall apply to individuals (or beneficiaries of individuals) who are Employees on or after the
Effective Date, except as may otherwise be provided in the Plan. The rights of any other individual (or beneficiary) shall be determined by the provisions of the Plan as in effect on the date of such individual’s latest Separation from Service
except as may be provided by specific reference in any amendment adopted thereafter. 
 12.7 SEC Rule 16b-3. Transactions pursuant to this Plan
are intended to come within the exemptions provided by SEC Rule 16b-3 (or any successor provision) with respect to persons who are subject to Section 16 of the Securities Exchange Act of 1934 to the full extent provided thereby. Any provision
required by such Rule to be set forth in this Plan is incorporated herein by reference, and any inconsistent provision herein (other than Section 11.1) is superseded. 
 12.8 Deferred Compensation Provisions. Notwithstanding anything herein to the contrary, any payments hereunder that would be subject to the additional income tax imposed by Section 409A of the Code
shall be deferred until the earliest date that such payments may be made without the imposition of such tax.Form of Underwriters' Purchase Option

 Exhibit 10.24 
 THE REGISTERED HOLDER OF THIS PURCHASE OPTION BY ITS ACCEPTANCE HEREOF, AGREES THAT IT WILL NOT SELL, TRANSFER OR ASSIGN THIS PURCHASE OPTION EXCEPT AS HEREIN PROVIDED. 
 VOID AFTER 5:00 P.M. EASTERN TIME,                     , 2012. 
 PURCHASE OPTION 
 For the Purchase
of up to 
              Shares of Common Stock 
 of 
 HQ SUSTAINABLE MARITIME
INDUSTRIES, INC. 
 (A Delaware Corporation) 
 1. Purchase Option. 
 THIS CERTIFIES THAT, in consideration of $100.00 duly paid by or on behalf of
                             (“Holder”) and other like holders, as registered owner of this
Purchase Option, to HQ Sustainable Maritime Industries, Inc. (“Company”), Holder is entitled, at any time or from time to time at or after
                    , 2008 (“Commencement Date”), and at or before 5:00 p.m., Eastern Time,
                    , 2012 (“Expiration Date”), but not thereafter, to subscribe for, purchase and receive, in whole or in part, up
to                      (            ) shares of Common Stock of the
Company, $.001 par value (“Common Stock”). This agreement is being issued to the Holder in connection with an offering of Common Stock to be conducted through the underwriters, of which Ladenburg Thalmann &co. Inc.
(“Ladenburg”) is the lead underwriter, that has been registered by the Company for sale to the public pursuant to the Registration Statement on Form SB-2 (No.333-
            ) (“Registration Statement”), which was declared effective on             , 2006
(“Effective Date”). The shares of Common Stock that may be issued hereunder are sometimes referred to herein as the “Securities.” The Holder can purchase, upon exercise of the Purchase Option, in whole or in part for the
Securities. If the Expiration Date is a day on which banking institutions are authorized by law to close, then this Purchase Option may be exercised on the next succeeding day that is not such a day in accordance with the terms herein. This Purchase
Option is initially exercisable at $             [165% of public price] per share of Common Stock; provided, however, that upon the occurrence of any of the events
specified in Section 6 hereof, the rights granted by this Purchase Option, including the exercise price and the number of shares of Common Stock to be received upon such exercise, shall be adjusted as therein specified. The term “Exercise
Price” shall mean the initial exercise price or the adjusted exercise price, depending on the context of a share of Common Stock. 

 2. Exercise. 
 2.1 Exercise Form. In order to exercise this Purchase Option, the exercise form attached hereto must be duly executed and completed and delivered to the Company, together with this Purchase Option and payment of the Exercise Price in
cash or by certified check or official bank check for the Securities being purchased. If the subscription rights represented hereby shall not be exercised at or before 5:00 p.m., Eastern time, on the Expiration Date, this Purchase Option shall
become and be void without further force or effect, and all rights represented hereby shall cease and expire. 
 2.2 Legend. Each
certificate for Securities purchased under this Purchase Option shall bear a legend as follows (or a substantially similar legend) unless such Securities have been registered under the Securities Act of 1933, as amended: 
 “The securities represented by this certificate have not been registered under the Securities Act of 1933, as amended (“Act”) or applicable
state law. The securities may not be offered for sale, sold or otherwise transferred except pursuant to an effective registration statement under the Act, or pursuant to an exemption from registration under the Act and applicable state law.”

 2.3 Conversion Right. 
 2.3.1 Determination of Amount. In lieu of the payment of the Exercise Price in the manner required by Section 2.1, the Holder shall have the right (but not the obligation) to convert any exercisable but unexercised portion of
this Purchase Option into Common Stock (“Conversion Right”) as provided in this Section 2 below. 
 2.3.2 Common Stock.
Upon exercise of the Conversion Right, the Company shall deliver to the Holder (without payment by the Holder of any of the Exercise Price in cash) that number of shares of Common Stock equal to the quotient obtained by dividing (x) the
“Stock Value” (as defined below), at the close of trading on the next to last trading day immediately preceding the exercise of the Conversion Right, of the portion of the Purchase Option being converted by (y) the Market Price at
that same time. The “Stock Value” of the portion of the Purchase Option being converted shall equal the remainder derived from subtracting (a) the Exercise Price multiplied by the number of shares of Common Stock underlying that
portion of the Purchase Option being converted from (b) the Market Price of the Common Stock multiplied by the number of shares of Common Stock underlying that portion of the Purchase Option being converted. As used in this Section 2.3.2,
the term “Market Price” at any date shall be deemed to be the average of the last reported sale price of the Common Stock for the three consecutive trading days ending on such date, as officially reported by the principal securities
exchange on which the Common Stock is listed or admitted to trading, or, if the Common Stock is not listed or admitted to trading on any national securities exchange or if any such exchange on which the Common Stock is listed is not its principal
trading market, the last reported sale price for the three consecutive trading days ending on such date as furnished by the NASD through the Nasdaq National Market or SmallCap Market, or, if applicable, the American Stock Exchange, or a regional

  

 2 

 exchange, or if the Common Stock is not listed or admitted to trading on any of the foregoing markets, or similar
organization, as determined in good faith by resolution of the Board of Directors of the Company, based on the best information available to it. 
 2.3.3 Mechanics of Conversion. The Conversion Right may be exercised by the Holder on any business day on or after the Commencement Date and not later than the Expiration Date by delivering the Purchase Option with a duly executed
exercise form attached hereto with the conversion right section completed to the Company, exercising the Conversion Right and specifying the total number of shares of Common Stock that the Holder will purchase pursuant to such Conversion Right.

 3. Transfer. 
 3.1 General
Restrictions. The registered Holder of this Purchase Option, by its acceptance hereof, agrees that it will not sell, transfer, assign, pledge or hypothecate this Purchase Option prior to the Commencement Date to anyone other than (i) an
officer or partner of such Holder, (ii) an officer of either Ladenburg Thalmann & Co. Inc. or Roth Capital Partners (“Underwriter”) or an officer or partner of any Selected Dealer or member of the underwriting syndicate in
connection with the Company’s public offering with respect to which this Purchase Option has been issued, or (iii) any Selected Dealer or member of the underwriting syndicate, or engage in any hedging, short sale, derivative, put, or call
transaction that would result in the effective economic disposition of this Purchase Option or the underlying securities prior to the Commencement Date. On and after the Commencement Date, transfers to others may be made subject to compliance with
or exemptions from applicable securities laws. In order to make any permitted assignment, the Holder must deliver to the Company the assignment form attached hereto duly executed and completed, together with the Purchase Option and payment of all
transfer taxes, if any, payable in connection therewith. The Company shall immediately transfer this Purchase Option on the books of the Company and shall execute and deliver a new Purchase Option or Purchase Options of like tenor to the appropriate
assignee(s) expressly evidencing the right to purchase the aggregate number of shares of Common Stock purchasable hereunder or such portion of such number as shall be contemplated by any such assignment. 
 3.2 Restrictions Imposed by the Act. This Purchase Option and the Securities underlying this Purchase Option shall not be transferred unless and
until (i) the Company has received the opinion of counsel for the Holder that this Purchase Option or the Securities, as the case may be, may be transferred pursuant to an exemption from registration under the Act and applicable state law, the
availability of which is established to the reasonable satisfaction of the Company (the Company hereby agreeing that an opinion of Graubard Miller in form and substance reasonably satisfactory to the Company or its counsel shall be deemed
satisfactory evidence of the availability of an exemption), or (ii) a registration statement relating to such Purchase Option or Securities, as the case may be, has been filed by the Company and declared effective by the Securities and Exchange
Commission and compliance with applicable state law. 
  

 3 

 4. New Purchase Options to be Issued. 
 4.1 Partial Exercise or Transfer. Subject to the restrictions in Section 3 hereof, this Purchase Option may be exercised or assigned in whole
or in part. In the event of the exercise or assignment hereof in part only, upon surrender of this Purchase Option for cancellation, together with the duly executed exercise or assignment form and funds sufficient to pay any Exercise Price and/or
transfer tax, the Company shall cause to be delivered to the Holder without charge a new Purchase Option of like tenor to this Purchase Option in the name of the Holder evidencing the right of the Holder to purchase the aggregate number of shares of
Common Stock purchasable hereunder as to which this Purchase Option has not been exercised or assigned. 
 4.2 Lost Certificate. Upon
receipt by the Company of evidence satisfactory to it of the loss, theft, destruction or mutilation of this Purchase Option and of reasonably satisfactory indemnification, the Company shall execute and deliver a new Purchase Option of like tenor and
date. Any such new Purchase Option executed and delivered as a result of such loss, theft, mutilation or destruction shall constitute a substitute contractual obligation on the part of the Company. 
 5. Registration Rights. 
 5.1 Demand
Registration. 
 5.1.1 Grant of Right. The Company, upon written demand (“Initial Demand Notice”) of the Holder(s) of at
least 51% of the Purchase Options and/or the underlying shares of Common Stock (“Majority Holders”), agrees to register on one occasion, all of the Securities underlying such Purchase Options (collectively the “Registrable
Securities”). On such occasion, the Company will file a registration statement covering the Registrable Securities within sixty (60) days after receipt of the Initial Demand Notice and use its reasonable best efforts to have the
registration statement declared effective promptly thereafter. If the Company fails to comply with the provisions of this Section 5.1.1, the Company shall, in addition to any other equitable or other relief available to the Holder(s), be liable
for any and all incidental, special and consequential damages sustained by the Holder(s). The demand for registration may be made at any time during a period of four years beginning one year from the Effective Date; provided that the Registrable
Securities are not already covered by an effective registration statement. The Company covenants and agrees to give written notice of its receipt of any Initial Demand Notice by any Holder(s) to all other registered Holders of the Purchase Options
and/or the Registrable Securities within ten days from the date of the receipt of any such Initial Demand Notice. 
 5.1.2 Terms. The
Company shall bear all fees and expenses attendant to registering the Registrable Securities, but the Holders shall pay any and all underwriting and brokerage commissions discounts and fees, the expenses of any legal counsel selected by the Holders
to represent them in connection with the sale of the Registrable Securities. The Company agrees to use its reasonable best efforts to cause the filing required herein to become effective promptly and to qualify or register the Registrable Securities
in such States as are reasonably requested by the Holder(s); provided, however, that in no event shall the Company be required to 
  

 4 

 register the Registrable Securities in a State in which such registration would cause (i) the Company to be
obligated to register or license to do business in such State or submit to general service of process in such State, or (ii) the principal stockholders of the Company to be obligated to escrow their shares of capital stock of the Company. The
Company shall cause any registration statement filed pursuant to the demand right granted under Section 5.1.1 to remain effective for a period of at least twelve consecutive months from the date that the Holders of the Registrable Securities
covered by such registration statement are first given the opportunity to sell all of such securities. 
 5.2 “Piggy-Back”
Registration. 
 5.2.1 Grant of Right. In addition to the demand right of registration, the Holders of the Purchase Options shall
have the right for a period of six (6) years commencing one year from the Effective Date, to include the Registrable Securities as part of any other registration of securities filed by the Company (other than in connection with a transaction
contemplated by Rule 145(a) promulgated under the Act or pursuant to Form S-8 or any equivalent form); provided, however, that if, in the determination of the Company’s managing underwriter or underwriters, if any, for such offering, the
inclusion of the Registrable Securities, when added to the securities being registered by the Company or the selling stockholder(s), will exceed the maximum amount of the Company’s securities which can be marketed (i) at a price reasonably
related to their then current market value, or (ii) without adversely affecting the entire offering, the Company shall not be obligated to register such Registrable Securities. 
 5.2.2 Terms. The Company shall bear all fees and expenses attendant to registering the Registrable Securities, but the Holders shall pay any and
all underwriting and brokerage commissions, discounts and fees and the expenses of any legal counsel and other experts selected by the Holders to represent them in connection with the sale of the Registrable Securities. In the event of such a
proposed registration, the Company shall furnish the then Holders of outstanding Registrable Securities with not less than ten (10) days written notice prior to the proposed date of filing of such registration statement. Such notice to the
Holders shall continue to be given for each registration statement filed by the Company until such time as the Holder has sold all of the Registrable Securities. The holders of the Registrable Securities shall exercise the “piggy-back”
rights provided for herein by giving written notice, within ten (10) days of the receipt of the Company’s notice of its intention to file a registration statement. 
 5.3 General Terms. 
 5.3.1
Indemnification. The Company shall indemnify the Holder(s) of the Registrable Securities to be sold pursuant to any registration statement hereunder and each person, if any, who controls such Holders within the meaning of Section 15 of
the Act or Section 20(a) of the Securities Exchange Act of 1934, as amended (“Exchange Act”), against all loss, claim, damage, expense or liability (including all reasonable attorneys’ fees and other expenses reasonably incurred
in investigating, preparing or defending against any claim whatsoever) to which any of them may become subject under the Act, the Exchange Act or otherwise, arising from such registration statement but only to the same extent and with the same
effect as the provisions pursuant to which the Company has 
  

 5 

 agreed to indemnify the Underwriters contained in Section 5 of the Underwriting Agreement between the Underwriters
and the Company, dated the Effective Date (but not with respect to information furnished (or not furnished in the case of an omission) by the Holders). The Holder(s) of the Registrable Securities to be sold pursuant to such registration statement,
and their successors and assigns, shall severally, and not jointly, indemnify the Company, against all loss, claim, damage, expense or liability (including all reasonable attorneys’ fees and other expenses reasonably incurred in investigating,
preparing or defending against any claim whatsoever) to which they may become subject under the Act, the Exchange Act or otherwise, arising from information furnished (or not furnished in the case of an omission or alleged omission) by or on behalf
of such Holders, or their successors or assigns, in writing, for specific inclusion in such registration statement to the same extent and with the same effect as the provisions contained in Section 5 of the Underwriting Agreement pursuant to
which the Underwriters has agreed to indemnify the Company. 
 5.3.2 Exercise of Purchase Option. Nothing contained in this Purchase
Option shall be construed as requiring the Holder(s) to exercise their Purchase Options prior to or after the initial filing of any registration statement or the effectiveness thereof. 
 5.3.3 Documents Delivered to Holders. Subject to the execution of appropriate confidentiality agreements, the Company shall deliver promptly to
each Holder participating in the offering requesting the correspondence and memoranda described below and to the managing underwriter copies of all correspondence between the Commission and the Company, its counsel or auditors and all memoranda
relating to discussions with the Commission or its staff with respect to the registration statement and permit each Holder and underwriter to do such investigation, upon reasonable advance notice, with respect to information contained in or omitted
from the registration statement as it deems reasonably necessary to comply with applicable securities laws or rules of the National Association of Securities Dealers, Inc. (“NASD”). Such investigation shall include access to books, records
and properties and opportunities to discuss the business of the Company with its officers and independent auditors, all to such reasonable extent and at such reasonable times as any such Holder shall reasonably request, provided that all such
persons sign a confidentiality agreement. 
 5.3.4 Documents to be Delivered by Holder(s). Each of the Holder(s) participating in any
of the foregoing offerings shall furnish to the Company a completed and executed questionnaire provided by the Company requesting information customarily sought of selling securityholders as a condition to the inclusion of such Holder’s
Registrable Securities in any registration statement. 
  

 6 

 6. Adjustments. 
 6.1 Adjustments to Exercise Price and Number of Securities. The Exercise Price and the number of shares of Common Stock underlying the Purchase Option shall be subject to adjustment from time to time as
hereinafter set forth: 
 6.1.1 Stock Dividends - Recapitalization, Reclassification, Split-Ups. If after the date hereof, and subject
to the provisions of Section 6.3 below, the number of outstanding shares of Common Stock is increased by a stock dividend payable in shares of Common Stock or by a split-up, recapitalization or reclassification of shares of Common Stock or
other similar event, then, on the effective date thereof, the number of shares of Common Stock issuable on exercise of the Purchase Option shall be increased in proportion to such increase in outstanding shares. [For example, if the Company declares
a two-for-one stock dividend and at the time of such dividend the Purchase Option is for the purchase of 1,000 shares of Common Stock at $             per share, upon effectiveness
of the dividend, the Purchase Option will be adjusted (disregarding for purposes of this example that adjustments shall be rounded to the nearest cent, as provided in Section 6.1.3) to allow for the purchase of 2,000 shares at
$             per share.] 
 6.1.2 Aggregation of Shares. If after
the date hereof, and subject to the provisions of Section 6.3, the number of outstanding shares of Common Stock is decreased by a consolidation, combination or reclassification of shares of Common Stock or other similar event, then, upon the
effective date thereof, the number of shares of Common Stock issuable on exercise of the Purchase Option shall be decreased in proportion to such decrease in outstanding shares. 
 6.1.3 Adjustments in Exercise Price. Whenever the number of shares of Common Stock purchasable upon the exercise of this Purchase Option is
adjusted, as provided in this Section 6.1, the Exercise Price shall be adjusted (to the nearest cent) by multiplying such Exercise Price immediately prior to such adjustment by a fraction (x) the numerator of which shall be the number of
shares of Common Stock purchasable upon the exercise of this Purchase Option immediately prior to such adjustment, and (y) the denominator of which shall be the number of shares of Common Stock so purchasable immediately thereafter. 

6.1.4 Replacement of Securities upon Reorganization, etc. In case of any reclassification or reorganization of the outstanding shares of Common
Stock other than a change covered by Section 6.1.1 hereof or which solely affects the par value of such shares of Common Stock, or in the case of any merger or consolidation of the Company with or into another corporation (other than a
consolidation or merger in which the Company is the continuing corporation and which does not result in any reclassification or reorganization of the outstanding shares of Common Stock), or in the case of any sale or conveyance to another
corporation or entity of the property of the Company as an entirety or substantially as an entirety in connection with which the Company is dissolved, the Holder of this Purchase Option shall have the right thereafter (until the expiration of the
right of exercise of this Purchase Option) to receive upon the exercise hereof, for the same aggregate Exercise Price payable hereunder immediately prior to such event, the kind and amount of shares of stock or other securities or property
(including cash) receivable upon such reclassification, reorganization, merger or consolidation, or upon a dissolution following any such sale or other transfer, by a Holder of the number of shares of Common Stock of the Company obtainable upon
exercise of this Purchase Option immediately prior to such event; and if any reclassification also results in a change in shares of Common Stock covered by Section 6.1.1, then such adjustment shall be made pursuant to Sections 6.1.1, 6.1.3
and this Section 6.1.4. The provisions of this Section 6.1.4 shall similarly apply to successive reclassifications, reorganizations, mergers or consolidations, sales or other transfers. 
  

 7 

 6.1.5 Changes in Form of Purchase Option. This form of Purchase Option need not be changed because
of any change pursuant to this Section, and Purchase Options issued after such change may state the same Exercise Price and the same number of shares of Common Stock as are stated in the Purchase Options initially issued pursuant to this Agreement.
The acceptance by any Holder of the issuance of new Purchase Options reflecting a required or permissive change shall not be deemed to waive any rights to a prior adjustment or the computation thereof. 
 6.2 Elimination of Fractional Interests. The Company shall not be required to issue certificates representing fractions of shares of Common Stock
upon the exercise or transfer of the Purchase Option, nor shall it be required to issue scrip or pay cash in lieu of any fractional interests, it being the intent of the parties that all fractional interests shall be eliminated by rounding any
fraction up or down to the nearest whole number of shares of Common Stock or other securities, properties or rights. 
 7. Reservation and Listing.
The Company shall at all times reserve and keep available out of its authorized shares of Common Stock, solely for the purpose of issuance upon exercise of the Purchase Options, such number of shares of Common Stock or other securities, properties
or rights as shall be issuable upon the exercise thereof. The Company covenants and agrees that, upon exercise of the Purchase Options and payment of the Exercise Price therefor, all shares of Common Stock and other securities issuable upon such
exercise shall be duly and validly issued, fully paid and non-assessable and not subject to preemptive rights of any stockholder. As long as the Purchase Options shall be outstanding, the Company shall use its reasonable best efforts to cause all
shares of Common Stock issuable upon exercise of the Purchase Options to be listed (subject to official notice of issuance) on all securities exchanges (or, if applicable on Nasdaq) on which the Common Stock are then listed and/or quoted.

 8. Certain Notice Requirements. 
 8.1
Holder’s Right to Receive Notice. Nothing herein shall be construed as conferring upon the Holders the right to vote or consent or to receive notice as a stockholder for the election of directors or any other matter, or as having any
rights whatsoever as a stockholder of the Company. If, however, at any time prior to the expiration of the Purchase Options and their exercise, any of the events described in Section 8.2 shall occur, then, in one or more of said events, the
Company shall give written notice of such event at least ten (10) days prior to the date fixed as a record date or the date of closing the transfer books for the determination of the stockholders entitled to such dividend, distribution,
conversion or exchange of securities or subscription rights, or entitled to vote on such proposed dissolution, liquidation, winding up or sale. Such notice shall specify such record date or the date of the closing of the transfer books, as the case
may be. 
 8.2 Events Requiring Notice. The Company shall be required to give the notice described in this Section 8 upon one or
more of the following events: (i) if the Company shall take a record of the holders of its shares of Common Stock for the purpose of entitling 
  

 8 

 them to receive a dividend or distribution payable otherwise than in cash, or a cash dividend or distribution payable
otherwise than out of retained earnings, as indicated by the accounting treatment of such dividend or distribution on the books of the Company, or (ii) the Company shall offer to all the holders of its Common Stock any additional shares of
capital stock of the Company or securities convertible into or exchangeable for shares of capital stock of the Company, or any option, right or warrant to subscribe therefor, or (iii) a dissolution, liquidation or winding up of the Company
(other than in connection with a consolidation or merger) or a sale of all or substantially all of its property, assets and business shall be proposed. 
 8.3 Notice of Change in Exercise Price. The Company shall, promptly after an event requiring a change in the Exercise Price pursuant to Section 6 hereof, send notice to the Holders of such event and change
(“Price Notice”). The Price Notice shall describe the event causing the change and the method of calculating same and shall be certified as being true and accurate by the Company’s President and Chief Financial Officer. 
 8.4 Transmittal of Notices. All notices, requests, consents and other communications under this Purchase Option shall be in writing and shall be
deemed to have been duly made on the date of delivery if delivered personally or sent by overnight courier, with acknowledgement of receipt to the party to which notice is given, or on the fifth day after mailing if mailed to the party to whom
notice is to be given, by registered or certified mail, return receipt requested, postage prepaid and properly addressed as follows: (i) if to the registered Holder of the Purchase Option, to the address of such Holder as shown on the books of
the Company, or (ii) if to the Company, to its principal executive office. 
 9. Miscellaneous. 
 9.1 Amendments. The Company and Ladenburg may from time to time supplement or amend this Purchase Option without the approval of any of the Holders
in order to cure any ambiguity, to correct or supplement any provision contained herein which may be defective or inconsistent with any other provisions herein, or to make any other provisions in regard to matters or questions arising hereunder
which the Company and Ladenburg may deem necessary or desirable and which the Company and Ladenburg deem shall not adversely affect the interest of the Holders. All other modifications or amendments shall require the written consent of the party
against whom enforcement of the modification or amendment is sought. 
 9.2 Headings. The headings contained herein are for the sole
purpose of convenience of reference, and shall not in any way limit or affect the meaning or interpretation of any of the terms or provisions of this Purchase Option. 
 9.3 Entire Agreement. This Purchase Option (together with the other agreements and documents being delivered pursuant to or in connection with this Purchase Option) constitutes the entire agreement of the
parties hereto with respect to the subject matter hereof, and supersedes all prior agreements and understandings of the parties, oral and written, with respect to the subject matter hereof. 
  

 9 

 9.4 Binding Effect. This Purchase Option shall inure solely to the benefit of and shall be binding
upon, the Holder and the Company and their respective successors, legal representatives and assigns, and no other person shall have or be construed to have any legal or equitable right, remedy or claim under or in respect of or by virtue of this
Purchase Option or any provisions herein contained. 
 9.5 Governing Law; Submission to Jurisdiction. This Purchase Option shall be
governed by and construed and enforced in accordance with the laws of the State of New York, without giving effect to conflict of laws. The Company hereby agrees that any action, proceeding or claim against it arising out of, or relating in any way
to this Purchase Option shall be brought and enforced in the courts of the State of New York or of the United States of America for the Southern District of New York, and irrevocably submits to such jurisdiction, which jurisdiction shall be
exclusive. The Company hereby waives any objection to such exclusive jurisdiction and that such courts represent an inconvenient forum. Any process or summons to be served upon the Company may be served by transmitting a copy thereof by registered
or certified mail, return receipt requested, postage prepaid, addressed to it at the address set forth in Section 8 hereof. Such mailing shall be deemed personal service and shall be legal and binding upon the Company in any action, proceeding
or claim. The Company and the Holder, by acceptance hereof, agree that the prevailing party(ies) in any such action shall be entitled to recover from the other party(ies) all of its reasonable attorneys’ fees and expenses relating to such
action or proceeding and/or incurred in connection with the preparation therefor. 
 9.6 Waiver, Etc. The failure of the Company or
the Holder to at any time enforce any of the provisions of this Purchase Option shall not be deemed or construed to be a waiver of any such provision, nor to in any way affect the validity of this Purchase Option or any provision hereof or the right
of the Company or any Holder to thereafter enforce each and every provision of this Purchase Option. No waiver of any breach, non-compliance or non-fulfillment of any of the provisions of this Purchase Option shall be effective unless set forth in a
written instrument executed by the party or parties against whom or which enforcement of such waiver is sought; and no waiver of any such breach, non-compliance or non-fulfillment shall be construed or deemed to be a waiver of any other or
subsequent breach, non-compliance or non-fulfillment. 
  

 10 

 IN WITNESS WHEREOF, the Company has caused this
Purchase Option to be signed by its duly authorized officer as of the     th day of
                    , 2007. 
  

			
	 HQ SUSTAINABLE MARITIME INDUSTRIES, INC.

		
	By:	 	  

		 	Norbert Sporns,
		 	President

  

 11 

 Form to be used to exercise Purchase Option: 
 HQ Sustainable Maritime Industries, Inc. 
 1511 Third Avenue, Suite 788 
 Seattle, Washington 98101 
 Date:
                    , 200     
 The undersigned hereby elects irrevocably to exercise the within Purchase Option and to purchase          shares of Common Stock to purchase
         shares of Common Stock of HQ Sustainable Maritime Industries, Inc. and hereby makes payment of $             (at the
rate of $             per share of Common Stock) in payment of the Exercise Price pursuant thereto. Please issue the Common Stock as to which this Purchase Option is exercised in
accordance with the instructions given below. 
 or 
 The undersigned hereby elects irrevocably to exercise the within Purchase Option and to purchase          shares of Common Stock by surrender of the unexercised portion
of the within Purchase Option (with a “Stock Value” of $             based on a “Market Price” of
$            . Please issue the Common Stock as to which this Purchase Option is exercised in accordance with the instructions given below. 
  

	
	  

	 Signature

 NOTICE: The signature to this form must correspond with the name as written upon the face
of the within Purchase Option in every particular without alteration or enlargement or any change whatsoever. 
 INSTRUCTIONS FOR
REGISTRATION OF SECURITIES 
  

			
	 Name
	 	  

		 	(Print in Block Letters)
		
	 Address
	 	  

  

 12 

 Form to be used to assign Purchase Option: 
 ASSIGNMENT 
 (To be executed by the registered Holder to effect a transfer of the within Purchase
Option): 
 FOR VALUE RECEIVED,
                                        
     does hereby sell, assign and transfer unto                          the right to purchase
                     shares of Common Stock to purchase              shares
of Common Stock of HQ Sustainable Maritime Industries, Inc. (“Company”) evidenced by the within Purchase Option and does hereby authorize the Company to transfer such right on the books of the Company. 
 Dated:                     ,
200     
  

	
	  

	 Signature

  

	
	  

	 Signature Guaranteed

 NOTICE: The signature to this form must correspond with the name as written upon the face of
the within Purchase Option in every particular without alteration or enlargement or any change whatsoever, and must be guaranteed by a bank, other than a savings bank, or by a trust company or by a firm having membership on a registered national
securities exchange. 
  

 13

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