EXHIBIT 10.1
STOCK OPTION AGREEMENT
This STOCK OPTION AGREEMENT (the "Agreement"), dated as of this 14th day
of November, 2005, is between T SQUARED LLC, an Oregon Limited Liability
Company, ("T SQUARED"), and INTERNATIONAL POWER GROUP, LTD., a Delaware
Corporation, ("IPWG").In consideration of One Thousand US Dollars ($1,000.00)
receipt of which is hereby acknowledged, IPWG hereby grants T SQUARED an option
to purchase 6,250,000 shares of IPWG's 144 restricted stock at $0.80 USD per
share. This option must be executed within 10 business days of the date of this
agreement by the wire transfer of $5,000,000 US by T SQUARED to the, account of
IPWG or the option shall, expire.
The exercise price for the shares purchased on exercise of the option
must be paid in full at the time of exercise of the option, and shares shall not
be issued to T SQUARED until payment is made in full in cash.
T SQUARED LLC. INTERNATIONAL POWER GROUP, LTD.
/s/ Xxxxx Xxxxxx Xxxxxx /s/ Xxxxx Xxxxxxxx Xxxxxxx
By: Xxxxx Xxxxxx Xxxxxx By: Xxxxx Xxxxxxxx Xxxxxxx
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Its: Manager/Member Its: President/CEO
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