EX-10.91






Exhibit 10.91



HALO TECHNOLOGY HOLDINGS

2005 EQUITY INCENTIVE PLAN




INCENTIVE STOCK OPTION AGREEMENT




This INCENTIVE STOCK OPTION AGREEMENT (the “Option Agreement”), dated as of the  
day of  , 20  (the “Grant Date”), is between Warp Technology
Holdings, Inc., a Nevada corporation operating under the name Halo Technology Holdings (the
“Company”), and   (the “Optionee”), a key employee of the Company or of a
“Related Corporation,” as defined in the Halo Technology Holdings 2005 Equity Incentive Plan (the
“Plan”).



WHEREAS, the Company desires to give the Optionee the opportunity to purchase shares of common
stock of the Company (“Common Stock”) in accordance with the provisions of the Plan, a copy of
which is attached hereto;



NOW THEREFORE, in consideration of the mutual covenants hereinafter set forth and for other
good and valuable consideration, the parties hereto, intending to be legally bound hereby, agree as
follows:



1. Grant of Option. The Company hereby grants to the Optionee the right and option
(the “Option”) to purchase all or any part of an aggregate of   shares of Common
Stock. The Option is in all respects limited and conditioned as hereinafter provided, and is
subject in all respects to the terms and conditions of the Plan now in effect and as it may be
amended from time to time (but only to the extent that such amendments apply to outstanding
options). Such terms and conditions are incorporated herein by reference, made a part hereof, and
shall control in the event of any conflict with any other terms of this Option Agreement. The
Option granted hereunder is intended to be an incentive stock option (“ISO”) meeting the
requirements of the Plan and section 422 of the Internal Revenue Code of 1986, as amended (the
“Code”), and not a nonqualified stock option (“NQSO”).



2. Exercise Price. The exercise price of the shares of Common Stock covered by this
Option shall be $  per share. It is the determination of the Company’s
Compensation Committee (the “Committee”) that on the Grant Date the exercise price was not less
than the greater of (i) 100% (110% for an Optionee who owns more than 10% of the total combined
voting power of all shares of stock of the Company or of a Related Corporation – a “More-Than-10%
Owner”) of the “Fair Market Value” (as defined in the Plan) of a share of the Common Stock, or (ii)
the par value of the Common Stock.



3. Term. Unless earlier terminated pursuant to any provision of the Plan or of this
Option Agreement, this Option shall expire on        , 20  (the “Expiration
Date”), which date is not more than 10 years (five years in the case of a More-Than-10% Owner) from
the Grant Date. This Option shall not be exercisable on or after the Expiration Date.



4. Exercise of Option. [(a) Subject to Section 4(b) below,] The Optionee shall have
the right to purchase from the Company, on and after the following dates, the following number of
Shares, provided the Optionee has not terminated his or her service as of the applicable vesting
date:



	 	 	 
	Date Installment Becomes

Exercisable

	 	

Number of Option Shares
	 

	 	 
	 
	 	 
	     

     

     

     

	 	     Shares

an additional      Shares

an additional      Shares

an additional      Shares






The Committee may accelerate any exercise date of the Option, in its discretion, if it deems such
acceleration to be desirable. Once the Option becomes exercisable, it will remain exercisable
until it is exercised or until it terminates.



[Include if there are performance-vesting terms,



(b) The Optionee shall have the right to purchase from the Company the following number of Shares
after the Optionee’s Related Company achieves the increases in EBITDA for applicable fiscal
year/quarter as specified by the Compensation Committee and/or such other criteria as the
Compensation Committee may determine from time to time.]



5. Method of Exercising Option. Subject to the terms and conditions of this Option
Agreement and the Plan, the Option may be exercised by written notice to the Company at its
principal office, which is presently located at      . The form of such notice is
attached hereto and shall state the election to exercise the Option and the number of whole shares
with respect to which it is being exercised; shall be signed by the person or persons so exercising
the Option; and shall be accompanied by payment of the full exercise price of such shares. Only
full shares will be issued.



The exercise price shall be paid to the Company –



(a) in cash, or by certified check, bank draft, or postal or express money order; [The
Committee should select which, if any, of the following methods of payment, as set forth in
brackets, will be permitted in addition to (a):]



[(b) through the delivery of shares of Common Stock provided that if the shares so tendered
were acquired through exercise of an ISO, the Optionee, on the date of exercise, shall have held
such shares for a period of not less than the holding period described in section 422(a)(1) of the
Code; and further provided that if the shares so tendered were acquired through exercise of an
NQSO, the Optionee, on the date of exercise, shall have held such shares for such period of time as
may be required, if applicable, to be considered “mature” shares for purposes of accounting
treatment.]



[(c) by delivering a properly executed notice of exercise of the Option to the Company and a
broker, with irrevocable instructions to the broker promptly to deliver to the Company the amount
of sale or loan proceeds necessary to pay the exercise price of the Option;]



[(d) in any combination of (a), (b), or (c) above.]



[In the event the exercise price is paid, in whole or in part, with shares of Common Stock, the
portion of the exercise price so paid shall be equal to the Fair Market Value of the Common Stock
surrendered on the date of exercise.]



Upon receipt of notice of exercise and payment, the Company shall deliver a certificate or
certificates representing the shares with respect to which the Option is so exercised. The Optionee
shall obtain the rights of a shareholder upon receipt of a certificate(s) representing such Common
Stock.



Such certificate(s) shall be registered in the name of the person so exercising the Option
(or, if the Option is exercised by the Optionee and if the Optionee so requests in the notice
exercising the Option, shall be registered in the name of the Optionee and the Optionee’s spouse,
jointly, with right of survivorship), and shall be delivered as provided above to, or upon the
written order of, the person exercising the Option. In the event the Option is exercised by any
person after the death or “Disability” (as defined in Section 2(k) of the Plan) of the Optionee,
the notice shall be accompanied by appropriate proof of the right of such person to exercise the
Option. All shares that are purchased upon exercise of the Option as provided herein shall be
fully paid and non-assessable.



6. Non-Transferability of Option. This Option is not assignable or transferable, in
whole or in part, by the Optionee other than by will or by the laws of descent and distribution.
During the lifetime of the Optionee, the Option shall be exercisable only by the Optionee or, in
the event of his or her Disability, by his or her guardian or legal representative.



7. Termination of Employment. If the Optionee’s employment with the Company and all
Related Corporations is terminated for any reason (other than Cause, death or Disability) prior to
the Expiration Date, this Option may be exercised, to the extent of the number of shares with
respect to which the Optionee could have exercised it on the date of such termination of
employment, or to any greater extent permitted by the Committee in its discretion, by the Optionee
at any time prior to the earlier of (i) the Expiration Date, or (ii) three months after such
termination of employment. Any part of the Option that was not exercisable immediately before the
Optionee’s termination of employment shall terminate at that time. In the event the Optionee’s
employment is terminated for Cause (as defined in the Plan), this Option (to the extent exercisable
and unexercisable) shall terminate on the date of such termination of employment.



8. Disability. If the Optionee incurs a Disability during his or her employment and,
prior to the Expiration Date, the Optionee’s employment is terminated as a consequence of such
Disability, this Option may be exercised, to the extent of the number of shares with respect to
which the Optionee could have exercised it on the date of such termination of employment, or to any
greater extent permitted by the Committee in its discretion, by the Optionee or by the Optionee’s
legal representative at any time prior to the earlier of (i) the Expiration Date or (ii) one year
after such termination of employment. Any part of the Option that was not exercisable immediately
before the Optionee’s termination of employment shall terminate at that time.



9. Death. If the Optionee dies during his or her employment and prior to the
Expiration Date, or if the Optionee’s employment is terminated for any reason (as described in
Paragraphs 8 and 9) and the Optionee dies following his or her termination of employment but prior
to the earliest of (i) the Expiration Date, or (ii) the expiration of the period determined under
Paragraph 8 or 9 (as applicable to the Optionee) this Option may be exercised, to the extent of the
number of shares with respect to which the Optionee could have exercised it on the date of his or
her death, or to any greater extent permitted by the Committee in its discretion, by the Optionee’s
estate, personal representative or beneficiary who acquired the right to exercise this Option by
bequest or inheritance or by reason of the Optionee’s death, at any time prior to the earlier of
(i) the Expiration Date or (ii) one year after the date of the Optionee’s death. Any part of the
Option that was not exercisable immediately before the Optionee’s death shall terminate at that
time.



10. Disqualifying Disposition of Option Shares. The Optionee agrees to give written
notice to the Company, at its principal office, if a “disposition” of the shares acquired through
exercise of the Option granted hereunder occurs at any time within two years after the Grant Date
or within one year after the transfer to the Optionee of such shares. Optionee acknowledges that
if such disposition occurs, the Optionee generally will recognize ordinary income as of the date
the Option was exercised in an amount equal to the lesser of (i) the Fair Market Value of the
shares of Common Stock on the date of exercise minus the exercise price, or (ii) the amount
realized on disposition of such shares minus the exercise price. For purposes of this Paragraph,
the term “disposition” shall have the meaning assigned to such term by section 424(c) of the Code.



11. Governing Law. This Option Agreement shall be governed by the applicable Code
provisions to the maximum extent possible. Otherwise, the laws of the State of Nevada (without
reference to the principles of conflict of laws) shall govern the operation of, and the rights of
the Optionee under, the Plan and Options granted thereunder.



IN WITNESS WHEREOF, the Company has caused this Incentive Stock Option Agreement to be duly
executed by its duly authorized officer, and the Optionee has hereunto set his or her hand and
seal, all as of the      day of      , 20     .



WARP TECHNOLOGY HOLDINGS, INC.



     



By: 



     



Optionee



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HALO TECHNOLOGY HOLDINGS

2005 EQUITY INCENTIVE PLAN




Notice of Exercise of Incentive Stock Option




I hereby exercise the incentive stock option granted to me pursuant to the Incentive Stock
Option Agreement dated as of      , 20     , by Warp Technology Holdings, Inc. (the
“Company”), with respect to the following number of shares of the Company’s common stock
(“Shares”), par value $0.0001 per Share, covered by said option:



	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	Number of Shares to be purchased:    _______

	 
	 	 	 	 	 	Purchase price per Share:   $_______

	 
	 	 	 	 	 	Total purchase price:    $_______

	[
	 	 	A.]	 	 	Enclosed is cash or my certified check, bank draft, or postal or express money order in the amount of

	—
	 	 	 	 	 	$________ in full/partial [circle one] payment for such Shares;






[and/or]




[Choice B should be inserted if Optionee is permitted to use common stock in payment for the
shares. Choice C should be inserted if Optionee is permitted to exercise the option by means of
notice to a broker, who will tender full payment of the exercise price.]



	 	 	 	 	 
	[

—

	 	B.
	 	Enclosed is/are Share(s) with a total

fair market value of $on the date hereof in

full/partial [circle one] payment for such

Shares;]
	 
	 	 	 	 
	
 
	 	 	 	[and/or]
	 
	 	 	 	 
	[

—

	 	C.
	 	I have provided notice to

[insert name of broker], a broker, who will

render full/partial [circle one] payment for such

Shares. [Optionee should attach to the notice of

exercise provided to such broker a copy of this

Notice of Exercise and irrevocable instructions

to pay to the Company the full/partial (as

elected above) exercise price.]






Please have the certificate or certificates representing the purchased Shares registered in
the following name or names*:   
; and sent to  .



DATED:        , 20     



Optionee’s Signature




*Certificates may be registered in the name of the
Optionee alone or in the joint names (with right of survivorship) of the
Optionee and his or her spouse.




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