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Terms for loan between Global NRG Pacific Ltd., an Israeli company (GNRP) with an address at 7 Jabotinski Ramat Gan, Israel, and mr. aviram Malik (Lender) with an address at 1 Betzet St. Hod Hashaon, Israel, and Global Energy Inc. (GEYI), with an address at 7 Jabotinski, Ramat Gan, Israel, as guarantor.
1. The Lender will loan GNRP an aggregate of US$ 400,000. Of this amount, US$ 300,000 $US will be transferred by Lender to GNRP in three equal installments of US$ 100,000 on October 27, 2008, November 3, 2008 and November 10, 2008 without any further notice to Lender. The last US$ 100,000 will be on call and available to GNRP at any time after November 20, 2008 upon seven days’ notice to Lender. The notice may be sent to the Lender by fax or e-mail to the following address: 1 Betzet St. Hod Hashaon, Israel.
2. The loan will be repaid to the Lender in full by M