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...Stock Option Agreement • November 15th, 2005 • International Power Group, Ltd. • Sanitary services
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.
