OPTION AGREEMENT
This Option Agreement is entered into as of July 10, 2008 by and among Future Energy Solutions, Inc. and each of Peter Kolokouris, Michael Hughes and Charles LaLoggia (collectively, the “Investors”).
NOW, THEREFORE, the parties hereto agree as follows:
1. Future Energy Solutions, Inc. (the “Company”) hereby grants to the Investors an option to purchase an aggregate of 500,000 shares of common stock of the Company at a cost of $1 per share (the “Option”).
2. The Option shall vest and become exercisable upon the occurrence of the common stock of the Company being traded or listed on an exchange or a stock market, including the NASDAQ market.
3. The term of the Option is eight months.
4. The Option may be assigned by the investors. The Option shall be governed by New York law.
5. The Company acknowledges that Michael Hughes is an attorney and has represented the Investors and has not represented the Company.
| FUTURE ENERGY SOLUTIONS, INC. | |
| /s/ Gerald Brock | |
| Gerald Brock, President | |
| /s/ Peter Kolokouris | |
| Peter Kolokouris | |
| /s/ Charles LaLoggia | |
| Charles LaLoggia | |
| /s/ Michael Hughes | |
| Michael Hughes |