PURCHASE OPTION AGREEMENTPurchase Option Agreement • January 12th, 2009 • PetroAlgae Inc. • Electromedical & electrotherapeutic apparatus • Florida
This PURCHASE OPTION AGREEMENT (this “Agreement”) is made and entered into effective as of January 30, 2008 by and between XL TechGroup, Inc. a Delaware corporation (“XLTG”) with an address at 1901 South Harbor City Blvd., 3rd Floor, Melbourne, Florida 32901, and PetroAlgae, LLC, a Delaware limited liability company (the “Company”), with an address at 1901 South Harbor City Blvd., 3rd Floor, Melbourne, Florida 32901.
ContractAssignment Agreement • January 12th, 2009 • PetroAlgae Inc. • Electromedical & electrotherapeutic apparatus • New York
Reference is made to that certain Purchase Option Agreement made and entered into effective as of January 30, 2008 (as amended, modified, supplemented or restated from time to time, the “Option Agreement”) by and between XL TechGroup, Inc. (“XLT”) and PetroAlgae, LLC (“PetroAlgae”), under which, among other things, XLT is granted an option to purchase up to 2,029,337 Class A Units (as defined in the Option Agreement) in PetroAlgae.
