diff --git a/jps/jps-plugin/src/META-INF/services/org.jetbrains.jps.model.serialization.JpsModelSerializerExtension b/jps/jps-plugin/src/META-INF/services/org.jetbrains.jps.model.serialization.JpsModelSerializerExtension
new file mode 100644
index 00000000000..6026c57ec4b
--- /dev/null
+++ b/jps/jps-plugin/src/META-INF/services/org.jetbrains.jps.model.serialization.JpsModelSerializerExtension
@@ -0,0 +1 @@
+org.jetbrains.jet.jps.model.KotlinModelSerializerService
diff --git a/jps/jps-plugin/src/org/jetbrains/jet/jps/JpsKotlinCompilerSettings.java b/jps/jps-plugin/src/org/jetbrains/jet/jps/JpsKotlinCompilerSettings.java
new file mode 100644
index 00000000000..b46de016e22
--- /dev/null
+++ b/jps/jps-plugin/src/org/jetbrains/jet/jps/JpsKotlinCompilerSettings.java
@@ -0,0 +1,121 @@
+/*
+ * Copyright 2010-2013 JetBrains s.r.o.
+ *
+ * Licensed under the Apache License, Version 2.0 (the "License");
+ * you may not use this file except in compliance with the License.
+ * You may obtain a copy of the License at
+ *
+ * http://www.apache.org/licenses/LICENSE-2.0
+ *
+ * Unless required by applicable law or agreed to in writing, software
+ * distributed under the License is distributed on an "AS IS" BASIS,
+ * WITHOUT WARRANTIES OR CONDITIONS OF ANY KIND, either express or implied.
+ * See the License for the specific language governing permissions and
+ * limitations under the License.
+ */
+
+package org.jetbrains.jet.jps;
+
+import com.intellij.util.xmlb.Accessor;
+import com.intellij.util.xmlb.XmlSerializerUtil;
+import org.jetbrains.annotations.NotNull;
+import org.jetbrains.jet.cli.common.arguments.CommonCompilerArguments;
+import org.jetbrains.jet.cli.common.arguments.K2JSCompilerArguments;
+import org.jetbrains.jet.cli.common.arguments.K2JVMCompilerArguments;
+import org.jetbrains.jps.model.JpsElementChildRole;
+import org.jetbrains.jps.model.JpsProject;
+import org.jetbrains.jps.model.ex.JpsElementBase;
+import org.jetbrains.jps.model.ex.JpsElementChildRoleBase;
+
+public class JpsKotlinCompilerSettings extends JpsElementBase<JpsKotlinCompilerSettings> {
+    static final JpsElementChildRole<JpsKotlinCompilerSettings> ROLE = JpsElementChildRoleBase.create("Kotlin Compiler Settings");
+
+    @NotNull
+    public CommonCompilerArguments commonCompilerSettings = CommonCompilerArguments.DUMMY;
+    @NotNull
+    public K2JVMCompilerArguments k2JvmCompilerSettings = new K2JVMCompilerArguments();
+    @NotNull
+    public K2JSCompilerArguments k2JsCompilerSettings = new K2JSCompilerArguments();
+
+    @NotNull
+    @Override
+    public JpsKotlinCompilerSettings createCopy() {
+        JpsKotlinCompilerSettings copy = new JpsKotlinCompilerSettings();
+        copy.commonCompilerSettings = this.commonCompilerSettings;
+        copy.k2JvmCompilerSettings = this.k2JvmCompilerSettings;
+        copy.k2JsCompilerSettings = this.k2JsCompilerSettings;
+        return copy;
+    }
+
+    @Override
+    public void applyChanges(@NotNull JpsKotlinCompilerSettings modified) {
+        // do nothing
+    }
+
+    @NotNull
+    public static JpsKotlinCompilerSettings getSettings(@NotNull JpsProject project) {
+        JpsKotlinCompilerSettings settings = project.getContainer().getChild(ROLE);
+        if (settings == null) {
+            settings = new JpsKotlinCompilerSettings();
+        }
+        return settings;
+    }
+
+    @NotNull
+    public static JpsKotlinCompilerSettings getOrCreateSettings(@NotNull JpsProject project) {
+        JpsKotlinCompilerSettings settings = project.getContainer().getChild(ROLE);
+        if (settings == null) {
+            settings = new JpsKotlinCompilerSettings();
+            project.getContainer().setChild(ROLE, settings);
+        }
+        return settings;
+    }
+
+    @NotNull
+    public static CommonCompilerArguments getCommonSettings(@NotNull JpsProject project) {
+        JpsKotlinCompilerSettings settings = getSettings(project);
+        return settings.commonCompilerSettings;
+    }
+
+    public static void setCommonSettings(@NotNull JpsProject project, @NotNull CommonCompilerArguments commonCompilerSettings) {
+        JpsKotlinCompilerSettings settings = getOrCreateSettings(project);
+        settings.commonCompilerSettings = commonCompilerSettings;
+    }
+
+    @NotNull
+    public static K2JVMCompilerArguments getMergedK2JvmSettings(@NotNull JpsProject project) {
+        JpsKotlinCompilerSettings settings = getSettings(project);
+        return merge(settings.commonCompilerSettings, settings.k2JvmCompilerSettings);
+    }
+
+    public static void setK2JvmSettings(@NotNull JpsProject project, @NotNull K2JVMCompilerArguments k2JvmCompilerSettings) {
+        JpsKotlinCompilerSettings settings = getOrCreateSettings(project);
+        settings.k2JvmCompilerSettings = k2JvmCompilerSettings;
+    }
+
+    @NotNull
+    public static K2JSCompilerArguments getMergedK2JsSettings(@NotNull JpsProject project) {
+        JpsKotlinCompilerSettings settings = getSettings(project);
+        return merge(settings.commonCompilerSettings, settings.k2JsCompilerSettings);
+    }
+
+    public static void setK2JsSettings(@NotNull JpsProject project, @NotNull K2JSCompilerArguments k2JsCompilerSettings) {
+        JpsKotlinCompilerSettings settings = getOrCreateSettings(project);
+        settings.k2JsCompilerSettings = k2JsCompilerSettings;
+    }
+
+    @NotNull
+    private static <T extends CommonCompilerArguments> T merge(@NotNull CommonCompilerArguments from, @NotNull T to) {
+        Class<CommonCompilerArguments> fromClass = CommonCompilerArguments.class;
+
+        assert fromClass.isAssignableFrom(to.getClass()) : to.getClass() + " is not assignable to " + fromClass;
+
+        T mergedCopy = XmlSerializerUtil.createCopy(to);
+
+        for (Accessor accessor : XmlSerializerUtil.getAccessors(fromClass)) {
+            accessor.write(mergedCopy, accessor.read(from));
+        }
+
+        return mergedCopy;
+    }
+}
diff --git a/jps/jps-plugin/src/org/jetbrains/jet/jps/model/Kotlin2JsCompilerSettingsSerializer.java b/jps/jps-plugin/src/org/jetbrains/jet/jps/model/Kotlin2JsCompilerSettingsSerializer.java
new file mode 100644
index 00000000000..e0d061646bd
--- /dev/null
+++ b/jps/jps-plugin/src/org/jetbrains/jet/jps/model/Kotlin2JsCompilerSettingsSerializer.java
@@ -0,0 +1,48 @@
+/*
+ * Copyright 2010-2013 JetBrains s.r.o.
+ *
+ * Licensed under the Apache License, Version 2.0 (the "License");
+ * you may not use this file except in compliance with the License.
+ * You may obtain a copy of the License at
+ *
+ * http://www.apache.org/licenses/LICENSE-2.0
+ *
+ * Unless required by applicable law or agreed to in writing, software
+ * distributed under the License is distributed on an "AS IS" BASIS,
+ * WITHOUT WARRANTIES OR CONDITIONS OF ANY KIND, either express or implied.
+ * See the License for the specific language governing permissions and
+ * limitations under the License.
+ */
+
+package org.jetbrains.jet.jps.model;
+
+import com.intellij.util.xmlb.XmlSerializer;
+import org.jdom.Element;
+import org.jetbrains.annotations.NotNull;
+import org.jetbrains.jet.cli.common.arguments.K2JSCompilerArguments;
+import org.jetbrains.jet.jps.JpsKotlinCompilerSettings;
+import org.jetbrains.jps.model.JpsProject;
+import org.jetbrains.jps.model.serialization.JpsProjectExtensionSerializer;
+
+import static org.jetbrains.jet.compiler.SettingConstants.KOTLIN_COMPILER_SETTINGS_FILE;
+import static org.jetbrains.jet.compiler.SettingConstants.KOTLIN_TO_JS_COMPILER_SETTINGS_SECTION;
+
+class Kotlin2JsCompilerSettingsSerializer extends JpsProjectExtensionSerializer {
+    Kotlin2JsCompilerSettingsSerializer() {
+        super(KOTLIN_COMPILER_SETTINGS_FILE, KOTLIN_TO_JS_COMPILER_SETTINGS_SECTION);
+    }
+
+    @Override
+    public void loadExtension(@NotNull JpsProject project, @NotNull Element componentTag) {
+        K2JSCompilerArguments settings = XmlSerializer.deserialize(componentTag, K2JSCompilerArguments.class);
+        if (settings == null) {
+            settings = new K2JSCompilerArguments();
+        }
+
+        JpsKotlinCompilerSettings.setK2JsSettings(project, settings);
+    }
+
+    @Override
+    public void saveExtension(@NotNull JpsProject project, @NotNull Element componentTag) {
+    }
+}
diff --git a/jps/jps-plugin/src/org/jetbrains/jet/jps/model/Kotlin2JvmCompilerSettingsSerializer.java b/jps/jps-plugin/src/org/jetbrains/jet/jps/model/Kotlin2JvmCompilerSettingsSerializer.java
new file mode 100644
index 00000000000..8f9752b55a3
--- /dev/null
+++ b/jps/jps-plugin/src/org/jetbrains/jet/jps/model/Kotlin2JvmCompilerSettingsSerializer.java
@@ -0,0 +1,48 @@
+/*
+ * Copyright 2010-2013 JetBrains s.r.o.
+ *
+ * Licensed under the Apache License, Version 2.0 (the "License");
+ * you may not use this file except in compliance with the License.
+ * You may obtain a copy of the License at
+ *
+ * http://www.apache.org/licenses/LICENSE-2.0
+ *
+ * Unless required by applicable law or agreed to in writing, software
+ * distributed under the License is distributed on an "AS IS" BASIS,
+ * WITHOUT WARRANTIES OR CONDITIONS OF ANY KIND, either express or implied.
+ * See the License for the specific language governing permissions and
+ * limitations under the License.
+ */
+
+package org.jetbrains.jet.jps.model;
+
+import com.intellij.util.xmlb.XmlSerializer;
+import org.jdom.Element;
+import org.jetbrains.annotations.NotNull;
+import org.jetbrains.jet.cli.common.arguments.K2JVMCompilerArguments;
+import org.jetbrains.jet.jps.JpsKotlinCompilerSettings;
+import org.jetbrains.jps.model.JpsProject;
+import org.jetbrains.jps.model.serialization.JpsProjectExtensionSerializer;
+
+import static org.jetbrains.jet.compiler.SettingConstants.KOTLIN_COMPILER_SETTINGS_FILE;
+import static org.jetbrains.jet.compiler.SettingConstants.KOTLIN_TO_JVM_COMPILER_SETTINGS_SECTION;
+
+class Kotlin2JvmCompilerSettingsSerializer extends JpsProjectExtensionSerializer {
+    Kotlin2JvmCompilerSettingsSerializer() {
+        super(KOTLIN_COMPILER_SETTINGS_FILE, KOTLIN_TO_JVM_COMPILER_SETTINGS_SECTION);
+    }
+
+    @Override
+    public void loadExtension(@NotNull JpsProject project, @NotNull Element componentTag) {
+        K2JVMCompilerArguments settings = XmlSerializer.deserialize(componentTag, K2JVMCompilerArguments.class);
+        if (settings == null) {
+            settings = new K2JVMCompilerArguments();
+        }
+
+        JpsKotlinCompilerSettings.setK2JvmSettings(project, settings);
+    }
+
+    @Override
+    public void saveExtension(@NotNull JpsProject project, @NotNull Element componentTag) {
+    }
+}
\ No newline at end of file
diff --git a/jps/jps-plugin/src/org/jetbrains/jet/jps/model/KotlinCommonCompilerSettingsSerializer.java b/jps/jps-plugin/src/org/jetbrains/jet/jps/model/KotlinCommonCompilerSettingsSerializer.java
new file mode 100644
index 00000000000..9a284e1ebad
--- /dev/null
+++ b/jps/jps-plugin/src/org/jetbrains/jet/jps/model/KotlinCommonCompilerSettingsSerializer.java
@@ -0,0 +1,48 @@
+/*
+ * Copyright 2010-2013 JetBrains s.r.o.
+ *
+ * Licensed under the Apache License, Version 2.0 (the "License");
+ * you may not use this file except in compliance with the License.
+ * You may obtain a copy of the License at
+ *
+ * http://www.apache.org/licenses/LICENSE-2.0
+ *
+ * Unless required by applicable law or agreed to in writing, software
+ * distributed under the License is distributed on an "AS IS" BASIS,
+ * WITHOUT WARRANTIES OR CONDITIONS OF ANY KIND, either express or implied.
+ * See the License for the specific language governing permissions and
+ * limitations under the License.
+ */
+
+package org.jetbrains.jet.jps.model;
+
+import com.intellij.util.xmlb.XmlSerializer;
+import org.jdom.Element;
+import org.jetbrains.annotations.NotNull;
+import org.jetbrains.jet.cli.common.arguments.CommonCompilerArguments;
+import org.jetbrains.jet.jps.JpsKotlinCompilerSettings;
+import org.jetbrains.jps.model.JpsProject;
+import org.jetbrains.jps.model.serialization.JpsProjectExtensionSerializer;
+
+import static org.jetbrains.jet.compiler.SettingConstants.KOTLIN_COMMON_COMPILER_SETTINGS_SECTION;
+import static org.jetbrains.jet.compiler.SettingConstants.KOTLIN_COMPILER_SETTINGS_FILE;
+
+class KotlinCommonCompilerSettingsSerializer extends JpsProjectExtensionSerializer {
+    KotlinCommonCompilerSettingsSerializer() {
+        super(KOTLIN_COMPILER_SETTINGS_FILE, KOTLIN_COMMON_COMPILER_SETTINGS_SECTION);
+    }
+
+    @Override
+    public void loadExtension(@NotNull JpsProject project, @NotNull Element componentTag) {
+        CommonCompilerArguments settings = XmlSerializer.deserialize(componentTag, CommonCompilerArguments.DummyImpl.class);
+        if (settings == null) {
+            settings = CommonCompilerArguments.DUMMY;
+        }
+
+        JpsKotlinCompilerSettings.setCommonSettings(project, settings);
+    }
+
+    @Override
+    public void saveExtension(@NotNull JpsProject project, @NotNull Element componentTag) {
+    }
+}
diff --git a/jps/jps-plugin/src/org/jetbrains/jet/jps/model/KotlinModelSerializerService.java b/jps/jps-plugin/src/org/jetbrains/jet/jps/model/KotlinModelSerializerService.java
new file mode 100644
index 00000000000..7ce881cc715
--- /dev/null
+++ b/jps/jps-plugin/src/org/jetbrains/jet/jps/model/KotlinModelSerializerService.java
@@ -0,0 +1,34 @@
+/*
+ * Copyright 2010-2013 JetBrains s.r.o.
+ *
+ * Licensed under the Apache License, Version 2.0 (the "License");
+ * you may not use this file except in compliance with the License.
+ * You may obtain a copy of the License at
+ *
+ * http://www.apache.org/licenses/LICENSE-2.0
+ *
+ * Unless required by applicable law or agreed to in writing, software
+ * distributed under the License is distributed on an "AS IS" BASIS,
+ * WITHOUT WARRANTIES OR CONDITIONS OF ANY KIND, either express or implied.
+ * See the License for the specific language governing permissions and
+ * limitations under the License.
+ */
+
+package org.jetbrains.jet.jps.model;
+
+import org.jetbrains.annotations.NotNull;
+import org.jetbrains.jps.model.serialization.JpsModelSerializerExtension;
+import org.jetbrains.jps.model.serialization.JpsProjectExtensionSerializer;
+
+import java.util.Arrays;
+import java.util.List;
+
+public class KotlinModelSerializerService extends JpsModelSerializerExtension {
+    @NotNull
+    @Override
+    public List<? extends JpsProjectExtensionSerializer> getProjectExtensionSerializers() {
+        return Arrays.asList(new KotlinCommonCompilerSettingsSerializer(),
+                             new Kotlin2JvmCompilerSettingsSerializer(),
+                             new Kotlin2JsCompilerSettingsSerializer());
+    }
+}