Document:

Filed by Automated Filing Services Inc. (604) 609-0244 - Fronteer Development Group. Inc. - Exhibit 4.23

Exhibit 4.23

EMPLOYMENT AGREEMENT

MEMORANDUM OF AGREEMENT made this 22nd day of October,
  2004.

B E T W E E N:

IAN CUNNINGHAM-DUNLOP of 

(hereinafter called the "Employee")

 - and -

FRONTEER DEVELOPMENT GROUP INC.,
  

  a corporation incorporated under the laws of the 

  Province of Ontario,

(hereinafter called the "Employer")

                           THIS
  AGREEMENT WITNESSETH that in consideration of the mutual covenants and agreements
  herein contained and for other good and valuable consideration it is hereby
  agreed as follows:

1.                      
  The Employee shall be employed by the Employer in the employment function described
  in Schedule "B" hereto, or in such other capacity or capacities as may from
  time to time be mutually agreed by the Employee and Employer.

2.                      
  The Employee’s primary place of employment will be in Vancouver, British
  Columbia, Canada and the Employee agrees to reside within a reasonable daily
  commuting distance to the place of employment. The Employee acknowledges that
  due to the nature of the Employer’s operations and business, the Employee
  will be required to travel in the course of performing his duties from time
  to time.

3.                      
  The employment of the Employee hereunder shall continue from the date set out
  in paragraph 1 of Schedule "A" hereto and thereafter from year to year unless
  and until terminated in a manner provided herein.

4.                      
  This Agreement may be terminated by the Employer:

	 	(a) 	 upon one (1) month's written notice to the Employee;
        or

 

	 	(b) 	 at any time for “Just Cause” without notice
        or payment in lieu thereof or payment of any compensation whatsoever by
        way of anticipated earnings, bonus payments, benefit contributions or
        damages of any kind. “Just Cause” shall include, but not be
        limited to, the following:

	 	(i) 	 breach of the Employee's duties to the Employer;

	 	 	 
	 	(ii) 	 gross misconduct or negligence;

	 	 	 
	 	(iii) 	 conviction of a criminal offence under the Criminal
        Code of Canada and/or other applicable legislation; or

	 	(iv) 	solicitation of the Employer’s clients or
      affiliates for personal gain or profit

5.                      
  The Employee agrees to give the Employer one month’s written notice of
  his decision to terminate this Agreement.

6.                      
  The remuneration of the Employee for his services hereunder shall be as set
  out in paragraph 2 of Schedule "A" hereto. In addition, the Employee may be
  paid such other remuneration (if any) and shall be entitled to fringe benefits
  as may from time to time be determined by the Employer.

7.                      
  The Employee shall from time to time be entitled to such vacations as are set
  out in paragraph 3 of the Schedule "A" hereto.

8.                      
  The Employee shall be reimbursed by the Employer for all reasonable expenses
  properly incurred by the Employee in connection with his duties, in accordance
  with the Employer’s policies as may be instituted from time to time. For
  all such expenses the Employee shall furnish to the Employer statements and
  vouchers as and when required by it.

9.                      
  The Employee acknowledges that the Employer (for the purposes of this paragraph
  9, Employer shall be deemed to include the Employer and each of its affiliates,
  as such term is defined in the Canada Business Corporations Act) carries on
  the business of exploring for and, if economically feasible bring into production,
  mineral resources (the "Business"). The Employee, in the course of his employment
  hereunder, will have access to and be entrusted with detailed confidential information
  concerning the manner in which the Employer conducts the Business including
  information concerning areas of exploration or planned exploration, marketing
  plans, discussion with potential or current joint venture partners, business
  strategies, programs, budgets and revenues. The Employee acknowledges that the
  disclosure of any such detailed confidential information to competitors of the
  Employer or to the general public, or the use by the Employee of such detailed
  confidential information for the purposes other than purposes of the Employer,
  would be highly detrimental to the best interests of the Employer. The 

Employee understands and agrees with the Employer that the right
  to maintain confidential such detailed confidential information constitutes
  a proprietary right which the Employer is entitled to protect. Accordingly,
  the Employee covenants and agrees with the Employer that:

	 	(a) 	 he will not, either during the term of this agreement
        or at any time thereafter, disclose any of such detailed confidential
        information to any person nor shall he use the same for any purpose other
        than the purposes of the Employer, nor will he disclose or use for any
        purpose other than those of the Employer the private affairs of the Employer,
        or any other information which he may acquire during the course of this
        agreement with relation to the business and affairs of the Employer; and

	 	 	 
	 	(b) 	 he will not, either during the term of this agreement
        or at any time within a period of one (1) year following the termination
        of this agreement, either individually or in partnership, or jointly,
        or in connection with any person or persons, firm, association, syndicate,
        company or corporation, whether as employee, principal, agent, shareholder
        or in any other manner whatsoever, explore, acquire, lease or option any
        mineral property, any portion of which lies within 5 kilometres of any
        property which the Employer is exploring, has acquired, leased or optioned
        or is in the process of acquiring, leasing or optioning, at the termination
        of this agreement. The employer agrees to supply to the employee a map
        or maps showing the exact locations of such mineral properties at the
        time of termination of this agreement.

                           If
  any covenant or provision in this paragraph 9 is determined to be unenforceable
  or declared invalid in whole or in part for any reason whatsoever, it shall
  not affect the enforceability or validity of any other covenant or provision
  hereof or any part hereof, and any such unenforceable or invalid covenant or
  provision hereof or any part thereof is hereby conceded to be severable and
  subparagraphs (a) and (b) of this paragraph 9 are hereby declared to be separate
  and distinct covenants.

                           The
  Employee agrees that all restrictions contained in this paragraph 9 are reasonable
  and valid and all defences to the strict enforcement of all or any part thereof
  by the Employer are hereby waived by the Employee.

                           The
  Employee acknowledges that the restrictions contained in this paragraph 9 are
  necessary and fundamental for the protection of the Employer and that a breach
  by the Employee of any covenant or provision of this paragraph 9 would result
  in damages to the Employer which could not be adequately compensated for by
  monetary award to the Employer. Accordingly, it is expressly agreed by the Employee,
  that in addition to all other remedies available to it, the Employer shall be
  entitled to the immediate remedy of a restraining order, injunction, or such
  other form of injunctive relief as may be decreed or issued by any court of
  competent jurisdiction to restrain or enjoin the Employee from breaching any
  such covenant or provision.

10.                     
  The Employee agrees that any inventions, proprietary processes or information
  and other intellectual property which he invents, develops or creates, alone
  or with others, in the course of the performance of his duties, are the exclusive
  property of the Employer. By accepting the Employer’s offer of employment,
  the Employee thereby assigns, waives and quitclaims any rights he may have as
  the developer or creator of any such intellectual property and agrees to execute
  such assignments to the Employer, acknowledgements in favour of the Employer,
  or other documents in recognition of the Employer’s rights under this provision
  as the Employer may reasonably request from time to time during the term of
  this Agreement or at any time thereafter.

11.                     
  Upon the termination of the Employee's employment, he shall promptly deliver
  to the Employer any and all Employer property which is in his control including,
  without limitation, all computers, cellular telephones, business machines, manuals,
  notes, reports, software, printouts, access cards, tools, issued equipment and
  copies of any of the foregoing property.

12.                     
  Any notice in writing required or permitted to be given to the Employee hereunder
  shall be sufficiently given if served on the Employee personally or mailed by
  registered mail postage prepaid addressed to the Employee at his last address
  known to the Employer. Any notice in writing required or permitted to be given
  to the Employer hereunder shall be given by registered mail postage prepaid
  addressed to the Employer at the location to which the Employee normally reports
  to work. Any such notice mailed as aforesaid shall be deemed to have been received
  on the second business day following the date of mailing. Either party may at
  any time change his address for service by giving notice to the other party.

13.                     
  Any and all previous agreements, whether oral or in writing, between the parties
  hereto or made on their behalf relating to the employment of the Employee by
  the Employer are hereby terminated and cancelled and each of the parties hereto
  hereby releases and forever discharges the other party hereto of and from all
  manner of actions, causes of action, claims and demands whatsoever under or
  in respect of any such agreement.

14.                     
  This agreement shall be deemed to have been made in and shall be construed in
  accordance with the laws of the Province of British Columbia.

15.                     
  Schedules "A" and "B" annexed hereto shall be incorporated in and form part
  of this agreement. This agreement and the schedules hereto may be amended from
  time to time with the mutual consent of the parties hereto evidenced in writing.

16.                     
  The provisions hereof, where the context so permits, shall enure to the benefit
  of and be binding upon the heirs, executors, administrators or other legal representatives
  of the Employee and the successors and assigns of the Employer respectively.
  When the context so requires or permits the masculine gender should be read
  as if the feminine were expressed.

                           IN
  WITNESS WHEREOF this Agreement has been executed by the parties hereto.

	SIGNED, SEALED AND DELIVERED 	) 	 
	   In the Presence of 	) 	 
	  	) 	 
	/s/ Ian
      Cunningham-Dunlop 	 	 l/s
	  	) 	 
	  	) 	 

	 	FRONTEER DEVELOPMENT GROUP INC. 
	 	 	 
	 	 	 
	 	By:	/s/ Mark O’Dea

  

SCHEDULE "A"

SUPPLEMENTARY TERMS OF EMPLOYMENT

1.                      
  COMMENCEMENT OF EMPLOYMENT

                          
  The date of commencement of employment under this Employment Agreement is November
  1st 2004.

2.                      
  REMUNERATION

                           Remuneration
  is $110,000 per annum payable in equal semi-monthly instalments in arrears.

3.                      
  TIME OFF IN LIEU OF OVERTIME

                           The
  Employee shall not be entitled to pay for overtime worked on weekends, statutory
  holidays or otherwise. In lieu thereof, the Employee shall be entitled to take
  time off with pay in an equivalent amount to the overtime worked.

4.                      
  VACATIONS 

                          
  Three weeks with pay.

5.                      
  OTHER EMPLOYEE BENEFITS

                           The
  Employee shall be entitled to participate in any benefit plan implemented from
  time to time by the Employer.

SCHEDULE "B"

JOB DESCRIPTION

Exploration Manager – Canada

Supervisor: VP Exploration

Responsibilities

Supervise Canadian projects

	Direct supervision of Project Managers and Logistics Manager
  
	Existing programs at Red Lake, Labrador, NWT
  
	5-6 drill programs planned for 2005
  
	Plan programs; Formulate budgets; Supervise logistical planning 

Ensure completion of agreed Canadian exploration programs on
  time and within budget

Contribute to the sourcing of opportunities in Canada and elsewhere

	Identification of “discovery-stage” opportunities
  
	Formulation of earlier stage strategic alliances 

Participate in field-based exploration activities as required,
  mainly in Canada but possibly elsewhere if necessary

	Short term relief of staff during extended programs
  
	Field-based review and supervision
  
	Possible short to medium length field assignments on projects outside Canada
  

Participate in the review and prioritization of all Fronteer
  projects

	Discussion with CEO, VPEx 

Develop and maintain strong working relationships with Fronteer
  JV partners in Canada Ensure Fronteer claims are kept in good standing Contribute
  to the maintenance and improvement of Fronteer exploration practices

	compliance with company protocols regarding exploration practice
  
	contribute to improvements in geoscientific practice by Fronteer staff 

Represent Fronteer as required

	stakeholder discussions and negotiations
  
	exploration forums
  
	communication with exploration contacts 

Ensure compliance of Fronteer projects in Canada with all Health,
  Safety and Environment requirements

AMENDMENT TO SCHEDULE A 

  SUPPLEMENTARY TERMS OF EMPLOYMENT

2.          
  REMUNERATION

Remuneration is $140,000 per annum payable in equal monthly or
  semi-monthly instalments in arrears as modified by the board of directors of
  the Company on June 7, 2005.Filed by Automated Filing Services Inc. (604) 609-0244 - Terrace Ventures Inc. - Exhibit 10.2

TERRACE VENTURES INC.

2006 STOCK INCENTIVE PLAN

Established March 21, 2006

ARTICLE 1. 
THE PLAN

1.1      Title 

This plan is entitled the "2006 Stock Incentive Plan" (the
"Plan") of Terrace Ventures Inc., a Nevada corporation (the "Company").

1.2       Purpose

The purpose of the Plan is to enhance the long-term stockholder
value of the Company by offering opportunities to directors, officers, employees
and eligible consultants of the Company and any Related Company, as defined
below, to acquire and maintain stock ownership in the Company in order to give
these persons the opportunity to participate in the Company's growth and
success, and to encourage them to remain in the service of the Company or a
Related Company. 

ARTICLE 2. 
DEFINITIONS 

2.1       Definitions

The following terms will have the following meanings in the
Plan: 

"Award" means any Option granted under this Plan. 

"Board" means the Board of Directors of the Company.

"Cause," unless otherwise defined in the
instrument evidencing the award or in an employment or services agreement
between the Company or a Related Company and a Participant, means a material
breach of the employment or services agreement, dishonesty, fraud, misconduct,
unauthorized use or disclosure of confidential information or trade secrets, or
conviction or confession of a crime punishable by law (except minor violations),
in each case as determined by the Plan Administrator, and its determination
shall be conclusive and binding. 

"Code" means the Internal Revenue Code of 1986, as
amended from time to time. 

"Common Stock" means the shares of common stock, par
value $0.001 per share, of the Company. 

"Consultant Participant" means a Participant who is
defined as a Consultant Participant in Article 5. 

"Corporate Transaction," unless otherwise defined in the
instrument evidencing the Award or in a written employment or services agreement
between the Company or a Related Company and a Participant, means consummation
of either:

	(a) 	
      a merger or consolidation of the Company with or into any
      other corporation, entity or person or

1

	(b) 	
      a sale, lease, exchange or other transfer in one
      transaction or a series of related transactions of all or substantially
      all the Company's outstanding securities or all or substantially all the
      Company's assets; provided, however, that a Corporate Transaction shall
      not include a Related Party Transaction.

"Disability," unless otherwise defined by the
Plan Administrator, means a mental or physical impairment of the Participant
that is expected to result in death or that has lasted or is expected to last
for a continuous period of 12 months or more and that causes the Participant to
be unable, in the opinion of the Company, to perform his or her duties for the
Company or a Related Company and to be engaged in any substantial gainful
activity. 

"Employment Termination Date" means, with respect to a
Participant, the first day upon which the Participant no longer has an
employment or service relationship with the Company or any Related Company. 

"Exchange Act" means the Securities Exchange Act of
1934, as amended. 

"Fair Market Value" means the per share value of the
Common Stock determined as follows: (a) if the Common Stock is listed on an
established stock exchange or exchanges or the NASDAQ National Market, the
average closing price per share during the twenty trading days immediately
preceding such date on the principal exchange on which it is traded or as
reported by NASDAQ; (b) if the Common Stock is not then listed on an exchange or
the NASDAQ National Market, but is quoted on the NASDAQ Capital Market, the OTC
Bulletin Board service or the Pink Sheets electronic quotation service, the
average of the closing bid and ask prices per share for the Common Stock as
quoted by NASD, the OTC Bulletin Board or the Pink Sheets, as the case may be,
during the twenty trading days immediately preceding such date; or (c) if there
is no such reported market for the Common Stock for the date in question, then
an amount determined in good faith by the Plan Administrator.

"Grant Date" means the date on which the Plan
Administrator completes the corporate action relating to the grant of an Award
or such later date specified by the Plan Administrator, and on which all
conditions precedent to the grant have been satisfied, provided that conditions
to the exercisability or vesting of Awards shall not defer the Grant Date. 

"Incentive Stock Option" means an Option granted with
the intention, as reflected in the instrument evidencing the Option, that it
qualify as an "incentive stock option" as that term is defined in Section 422 of
the Code. 

"Non-Qualified Stock Option" means an Option other than
an Incentive Stock Option. 

"Option" means the right to purchase Common Stock
granted under Article 7. 

"Option Expiration Date" has the meaning set forth in
Article 7.6. 

"Option Term" has the meaning set forth in Article 7.3.

"Participant" means the person to whom an Award is
granted and who meets the eligibility requirements imposed by Article 5,
including Consultant Participants, as defined in Article 5. 

"Plan Administrator" has the meaning set forth in
Article 3.1. 

"Related Company" means any entity that, directly or
indirectly, is in control of or is controlled by the Company. 

2

"Related Party Transaction" means: (a) a merger or
consolidation of the Company in which the holders of shares of Common Stock
immediately prior to the merger hold at least a majority of the shares of Common
Stock in the Successor Corporation immediately after the merger; (b) a sale,
lease, exchange or other transaction in one transaction or a series of related
transactions of all or substantially all the Company's assets to a wholly-owned
subsidiary corporation; (c) a mere reincorporation of the Company; or (d) a
transaction undertaken for the sole purpose of creating a holding company that
will be owned in substantially the same proportion by the persons who held the
Company's securities immediately before such transaction. 

"Retirement," unless otherwise defined by the
Plan Administrator from time to time for purposes of the Plan, means retirement
on or after the individual's normal retirement date under the Company's 401(k)
plan or other similar successor plan applicable to salaried employees.

"Securities Act" means the Securities Act of 1933, as
amended. 

"Successor Corporation" has the meaning set forth in
Article 11.3(a) . 

"Vesting Commencement Date" means the Grant Date or such
other date selected by the Plan Administrator as the date from which the Option
begins to vest for purposes of Article 7.4. 

ARTICLE 3.
ADMINISTRATION 

3.1       Plan
Administrator 

The Plan shall be administered by the Board or a committee
appointed by, and consisting of two or more members of, the Board (the "Plan
Administrator"). If and so long as the Common Stock is registered under Section
12(b) or 12(g) of the Exchange Act, the Board shall consider in selecting the
members of any committee acting as Plan Administrator, with respect to any
persons subject or likely to become subject to Section 16 of the Exchange Act,
the provisions regarding (a) "outside directors" as contemplated by Section
162(m) of the Code and (b) "non-employee directors" as contemplated by Rule
16b-3 under the Exchange Act. Committee members shall serve for such term as the
Board may determine, subject to removal by the Board at any time. At any time
when no committee has been appointed to administer the Plan, then the Board will
be the Plan Administrator.

3.2       Administration
and Interpretation by Plan Administrator 

Except for the terms and conditions explicitly set forth in the
Plan, the Plan Administrator shall have exclusive authority, in its discretion,
to determine all matters relating to Awards under the Plan, including the
selection of individuals to be granted Awards, the type of Awards, the number of
shares of Common Stock subject to an Award, all terms, conditions, restrictions
and limitations, if any, of an Award and the terms of any instrument that
evidences the Award. The Plan Administrator shall also have exclusive authority
to interpret the Plan and the terms of any instrument evidencing the Award and
may from time to time adopt and change rules and regulations of general
application for the Plan's administration. The Plan Administrator's
interpretation of the Plan and its rules and regulations, and all actions taken
and determinations made by the Plan Administrator pursuant to the Plan, shall be
conclusive and binding on all parties involved or affected. The Plan
Administrator may delegate administrative duties to such of the Company's
officers as it so determines. 

3

ARTICLE 4. 
STOCK SUBJECT TO THE PLAN

4.1       Authorized
Number of Shares 

Subject to adjustment from time to time as provided in this
Article 4.1 and in Article 11.1, the maximum aggregate number of shares of
Common Stock available for issuance under the Plan shall be Five Million
(5,000,000) shares. The maximum aggregate number of shares of the Company’s
Common Stock that may be optioned and sold under the Plan will be increased
effective the first day of each of the Company’s fiscal quarters, beginning with
the fiscal quarter commencing May 1, 2006, by an amount equal to the lesser
of:

	 	(1) 	
      15% of the total increase in the number of shares of
      Common Stock outstanding during the previous fiscal quarter; or

	 	 	 
	 	(2) 	
      a lesser number of shares of Common Stock as may be
      determined by the Board.

4.2       Reuse of Shares

Any shares of Common Stock that have been made subject to an
Award that cease to be subject to the Award (other than by reason of exercise or
settlement of the Award to the extent it is exercised for or settled in shares)
shall again be available for issuance in connection with future grants of Awards
under the Plan. In the event shares issued under the Plan are reacquired by the
Company pursuant to any forfeiture provision or right of repurchase, such shares
shall again be available for the purposes of the Plan; provided, however, that
the maximum number of shares that may be issued upon the exercise of Incentive
Stock Options shall equal the share number stated in Article 4.1, subject to
adjustment from time to time as provided in Article 11.1; and provided, further,
that for purposes of Article 4.3, any such shares shall be counted in accordance
with the requirements of Section 162(m) of the Code. 

ARTICLE 5. 
ELIGIBILITY 

5.1       Plan
Eligibility

An Award may be granted to any officer, director or employee of
the Company or a Related Company that the Plan Administrator from time to time
selects. An Award may also be granted to any consultant, agent, advisor or
independent contractor who provides services to the Company or any Related
Company (a “Consultant Participant”), so long as such Consultant Participant:
(a) is a natural person; (b) renders bona fide services that are not in
connection with the offer and sale of the Company's securities in a
capital-raising transaction; and (c) does not directly or indirectly promote or
maintain a market for the Company's securities. 

ARTICLE 6. 
AWARDS 

6.1       Form and Grant
of Awards 

The Plan Administrator shall have the authority, in its sole
discretion, to determine the type or types of Awards to be granted under the
Plan. Awards may be granted singly or in combination. 

4

6.2       Settlement of
Awards 

The Company may settle Awards through the delivery of shares of
Common Stock, the granting of replacement Awards or any combination thereof as
the Plan Administrator shall determine. Any Award settlement, including payment
deferrals, may be subject to such conditions, restrictions and contingencies as
the Plan Administrator shall determine. The Plan Administrator may permit or
require the deferral of any Award payment, subject to such rules and procedures
as it may establish, which may include provisions for the payment or crediting
of interest, or dividend equivalents, including converting such credits into
deferred stock equivalents. 

ARTICLE 7. 
AWARDS OF OPTIONS

7.1       Grant of
Options 

The Plan Administrator shall have the authority, in its sole
discretion, to grant Options to Participants as Incentive Stock Options or as
Non-Qualified Stock Options, which shall be appropriately designated.

7.2       Option Exercise
Price 

The exercise price for shares purchased under an Option shall
be as determined by the Plan Administrator, provided that:

	(a) 	
      the exercise price for Options granted to Participants
      other than Consultant Participants shall not be less than the minimum
      exercise price required by Article 8.3 with respect to Incentive Stock
      Options and shall not be less than 75% of the Fair Market Value of the
      Common Stock on the Grant Date with respect to Non-Qualified Stock
      Options;

	 	 
	(b) 	
      the exercise price for Options granted to Consultant
      Participants shall not be less than 75% of the Fair Market Value of the
      Common Stock on the Grant Date.

7.3       Term of Options

Subject to earlier termination in accordance with the terms of
the Plan and the instrument evidencing the Option, the maximum term of an Option
(the "Option Term") shall be as established for that Option by the Plan
Administrator or, if not so established, shall be ten years from the Grant Date.

7.4       Exercise of
Options 

The Plan Administrator shall establish and set forth in each
instrument that evidences an Option the time at which, or the installments in
which, the Option shall vest and become exercisable, any of which provisions may
be waived or modified by the Plan Administrator at any time. 

The Plan Administrator, in its sole discretion, may adjust the
vesting schedule of an Option held by a Participant who works less than
"full-time" as that term is defined by the Plan Administrator or who takes a
Company-approved leave of absence. 

To the extent an Option has vested and become exercisable, the
Option may be exercised in whole or from time to time in part by delivery to the
Company of a written stock option exercise agreement or notice, in a form and in
accordance with procedures established by the Plan Administrator, setting forth
the number of shares with respect to which the Option is being exercised, the
restrictions imposed on the shares purchased under such exercise agreement, if
any, and such representations and agreements as may be required by the Plan
Administrator, accompanied by payment in full as described 

5

in Article 7.5. An Option may be exercised only for whole
shares and may not be exercised for less than a reasonable number of shares at
any one time, as determined by the Plan Administrator. 

7.5       Payment of
Exercise Price 

The exercise price for shares purchased under an Option shall
be paid in full to the Company by delivery of consideration equal to the product
of the Option exercise price and the number of shares purchased. Such
consideration must be paid before the Company will issue the shares being
purchased and must be in a form or a combination of forms acceptable to the Plan
Administrator for that purchase, which forms may include: 

	(a) 	
      cash;

	 	 
	(b) 	
      check;

	 	 
	(c) 	
      tendering (either actually or, if the Common Stock is
      registered under Section 12(b) or 12(g) of the Exchange Act, by
      attestation) shares of Common Stock already owned by the Participant for
      at least six months (or any shorter period necessary to avoid a charge to
      the Company's earnings for financial reporting purposes) that on the day
      prior to the exercise date have a Fair Market Value equal to the aggregate
      exercise price of the shares being purchased under the Option;
or

	 	 
	(d) 	
      if the Common Stock is registered under Section 12(b) or
      12(g) of the Exchange Act, delivery of a properly executed exercise
      notice, together with irrevocable instructions to a brokerage firm
      designated by the Company to deliver promptly to the Company the aggregate
      amount of sale or loan proceeds to pay the Option exercise price and any
      withholding tax obligations that may arise in connection with the
      exercise, all in accordance with the regulations of the Federal Reserve
      Board.

7.6       Post-Termination
Exercises 

The Plan Administrator shall establish and set forth in each
instrument that evidences an Option whether the Option shall continue to be
exercisable, and the terms and conditions of such exercise, if the Participant
ceases to be employed by, or to provide services to, the Company or a Related
Company, which provisions may be waived or modified by the Plan Administrator at
any time. If not so established in the instrument evidencing the Option, the
Option shall be exercisable according to the following terms and conditions,
which may be waived or modified by the Plan Administrator at any time: 

	(a) 	
      Except as otherwise set forth in this Article 7.6, any
      portion of an Option that is not vested and exercisable on the Employment
      Termination Date shall expire on such date.

	 	 	 
	(b) 	
      Any portion of an Option that is vested and exercisable
      on the Employment Termination Date shall expire on the earliest to occur
      of:

	 	 	 
		(i) 	
      if the Participant's Employment Termination Date occurs
      for reasons other than Cause, Retirement, Disability or death, the day
      which is three months after such Employment Termination Date;

	 	 	 
		(ii) 	
      if the Participant's Employment Termination Date occurs
      by reason of Retirement, Disability or death, the one-year anniversary of
      such Employment Termination Date; and

	 	 	 
		(iii) 	
      the last day of the Option Term (the "Option Expiration
      Date").

6

		
      Notwithstanding the foregoing, if the Participant dies
      after his or her Employment Termination Date but while an Option is
      otherwise exercisable, the portion of the Option that is vested and
      exercisable on such Employment Termination Date shall expire upon the
      earlier to occur of: (A) the Option Expiration Date, and (B) the one-year
      anniversary of the date of death, unless the Plan Administrator determines
      otherwise.

	 	 
		
      Also notwithstanding the foregoing, in case of
      termination of the Participant's employment or service relationship for
      Cause, all Options granted to that Participant shall automatically expire
      upon first notification to the Participant of such termination, unless the
      Plan Administrator determines otherwise. If a Participant's employment or
      service relationship with the Company is suspended pending an
      investigation of whether the Participant shall be terminated for Cause,
      all the Participant's rights under any Option shall likewise be suspended
      during the period of investigation. If any facts that would constitute
      termination for Cause are discovered after the Participant's relationship
      with the Company or a Related Company has ended, any Option then held by
      the Participant may be immediately terminated by the Plan Administrator,
      in its sole discretion.

	 	 
	(c) 	
      A Participant's transfer of employment or service
      relationship between or among the Company and any Related Company, or a
      change in status from an employee to a consultant, agent, advisor or
      independent contractor or a change in status from a consultant, agent,
      advisor or independent contractor to an employee, shall not be considered
      a termination of employment or service relationship for purposes of this
      Article 7. Unless the Plan Administrator determines otherwise, a
      termination of employment or service relationship shall be deemed to occur
      if a Participant's employment or service relationship is with an entity
      that has ceased to be a Related Company.

	 	 
	(d) 	
      The effect of a Company-approved leave of absence on the
      application of this Article 7 shall be determined by the Plan
      Administrator, in its sole discretion.

	 	 
	(e) 	
      If a Participant's employment or service relationship
      with the Company or a Related Company terminates by reason of Disability
      or death, the Option shall become fully vested and exercisable for all the
      shares subject to the Option. Such Option shall remain exercisable for the
      time period set forth in this Article 7.6.

ARTICLE 8. 
INCENTIVE STOCK OPTION LIMITATIONS

Notwithstanding any other provisions of the Plan, and to the
extent required by Section 422 of the Code, Incentive Stock Options shall be
subject to the following additional terms and conditions: 

8.1       Dollar
Limitation 

To the extent the aggregate Fair Market Value (determined as of
the Grant Date) of Common Stock with respect to which Incentive Stock Options
are exercisable for the first time during any calendar year (under the Plan and
all other stock option plans of the Company) exceeds $100,000, such portion in
excess of $100,000 shall be treated as a Non-Qualified Stock Option. In the
event the Participant holds two or more such Options that become exercisable for
the first time in the same calendar year, such limitation shall be applied on
the basis of the order in which such Options are granted. 

8.2       Eligible
Employees 

Individuals who are not employees of the Company or one of its
parent corporations or subsidiary corporations may not be granted Incentive
Stock Options. 

7

8.3       Exercise Price

The exercise price of an Incentive Stock Option shall be at
least 100% of the Fair Market Value of the Common Stock on the Grant Date, and
in the case of an Incentive Stock Option granted to a Participant who owns more
than 10% of the total combined voting power of all classes of the stock of the
Company or of its parent or subsidiary corporations (a "Ten Percent
Stockholder"), shall not be less than 110% of the Fair Market Value of the
Common Stock on the Grant Date. The determination of more than 10% ownership
shall be made in accordance with Section 422 of the Code. 

8.4       Exercisability

An Option designated as an Incentive Stock Option shall cease
to qualify for favorable tax treatment as an Incentive Stock Option to the
extent it is exercised (if permitted by the terms of the Option) (a) more than
three months after the Employment Termination Date if termination was for
reasons other than death or disability, (b) more than one year after the
Employment Termination Date if termination was by reason of disability, or (c)
after the Participant has been on leave of absence for more than 90 days, unless
the Participant's reemployment rights are guaranteed by statute or contract.

8.5       Taxation of
Incentive Stock Options 

In order to obtain certain tax benefits afforded to Incentive
Stock Options under Section 422 of the Code, the Participant must hold the
shares acquired upon the exercise of an Incentive Stock Option for two years
after the Grant Date and one year after the date of exercise. A Participant may
be subject to the alternative minimum tax at the time of exercise of an
Incentive Stock Option. The Participant shall give the Company prompt notice of
any disposition of shares acquired on the exercise of an Incentive Stock Option
prior to the expiration of such holding periods. 

8.6       Code
Definitions 

For the purposes of this Article 8, "parent corporation",
"subsidiary corporation" and "disability" shall have the meanings attributed to
those terms for purposes of Section 422 of the Code. 

ARTICLE 9. 
WITHHOLDING 

9.1       General

The Company may require the Participant to pay to the Company
the amount of any taxes that the Company is required by applicable federal,
state, local or foreign law to withhold with respect to the grant, vesting or
exercise of an Award. The Company shall not be required to issue any shares
Common Stock under the Plan until such obligations are satisfied. 

9.2       Payment of
Withholding Obligations in Cash or Shares 

The Plan Administrator may permit or require a Participant to
satisfy all or part of his or her tax withholding obligations by: (a) paying
cash to the Company, (b) having the Company withhold from any cash amounts
otherwise due or to become due from the Company to the Participant, (c) having
the Company withhold a portion of any shares of Common Stock that would
otherwise be issued to the Participant having a value equal to the tax
withholding obligations (up to the employer's minimum required tax withholding
rate), or (d) surrendering any shares of Common Stock that the Participant
previously acquired having a value equal to the tax withholding obligations (up
to the employer's 

8

minimum required tax withholding rate to the extent the
Participant has held the surrendered shares for less than six months). 

ARTICLE 10. 
ASSIGNABILITY 

10.1       Assignment

Neither an Award nor any interest therein may be assigned,
pledged or transferred by the Participant or made subject to attachment or
similar proceedings other than by will or by the applicable laws of descent and
distribution, and, during the Participant's lifetime, such Awards may be
exercised only by the Participant. Notwithstanding the foregoing, and to the
extent permitted by Section 422 of the Code, the Plan Administrator, in its sole
discretion, may permit a Participant to assign or transfer an Award or may
permit a Participant to designate a beneficiary who may exercise the Award or
receive payment under the Award after the Participant's death; provided,
however, that any Award so assigned or transferred shall be subject to all the
terms and conditions of the Plan and those contained in the instrument
evidencing the Award. 

ARTICLE 11. 
ADJUSTMENTS 

11.1       Adjustment of
Shares 

In the event, at any time or from time to time, a stock
dividend, stock split, spin-off, combination or exchange of shares,
recapitalization, merger, consolidation, distribution to stockholders other than
a normal cash dividend, or other change in the Company's corporate or capital
structure, including, without limitation, a Related Party Transaction, results
in: (a) the outstanding shares of Common Stock, or any securities exchanged
therefor or received in their place, being exchanged for a different number or
kind of securities of the Company or of any other corporation, or (b) new,
different or additional securities of the Company or of any other corporation
being received by the holders of shares of Common Stock of the Company, then the
Plan Administrator shall make proportional adjustments in: (i) the maximum
number and kind of securities subject to the Plan and issuable as Incentive
Stock Options as set forth in Article 4 and the maximum number and kind of
securities that may be made subject to Awards to any individual as set forth in
Article 4.3, and (ii) the number and kind of securities that are subject to any
outstanding Award and the per share price of such securities, without any change
in the aggregate price to be paid therefor. The determination by the Plan
Administrator as to the terms of any of the foregoing adjustments shall be
conclusive and binding. Notwithstanding the foregoing, a dissolution or
liquidation of the Company or a Corporate Transaction shall not be governed by
this Article 11.1 but shall be governed by Articles 11.2 and 11.3, respectively.

11.2       Dissolution or
Liquidation 

To the extent not previously exercised or settled, and unless
otherwise determined by the Plan Administrator in its sole discretion, Options
denominated in units shall terminate immediately prior to the dissolution or
liquidation of the Company. To the extent a forfeiture provision or repurchase
right applicable to an Award has not been waived by the Plan Administrator, the
Award shall be forfeited immediately prior to the consummation of the
dissolution or liquidation. 

9

11.3       Corporate
Transaction 

Options 

	(a) 	
      In the event of a Corporate Transaction, except as
      otherwise provided in the instrument evidencing an Option (or in a written
      employment or services agreement between a Participant and the Company or
      Related Company) and except as provided in subsection (b) below, each
      outstanding Option shall be assumed or an equivalent option or right
      substituted by the surviving corporation, the successor corporation or its
      parent corporation, as applicable (the "Successor Corporation").

	 	 
	(b) 	
      If, in connection with a Corporate Transaction, the
      Successor Corporation refuses to assume or substitute for an Option, then
      each such outstanding Option shall become fully vested and exercisable
      with respect to 100% of the unvested portion of the Option. In such case,
      the Plan Administrator shall notify the Participant in writing or
      electronically that the unvested portion of the Option specified above
      shall be fully vested and exercisable for a specified time period. At the
      expiration of the time period, the Option shall terminate, provided that
      the Corporate Transaction has occurred.

	 	 
	(c) 	
      For the purposes of this Article 11.3, the Option shall
      be considered assumed or substituted for if following the Corporate
      Transaction the option or right confers the right to purchase or receive,
      for each share of Common Stock subject to the Option immediately prior to
      the Corporate Transaction, the consideration (whether stock, cash, or
      other securities or property) received in the Corporate Transaction by
      holders of Common Stock for each share held on the effective date of the
      transaction (and if holders were offered a choice of consideration, the
      type of consideration chosen by the holders of a majority of the
      outstanding shares); provided, however, that if such consideration
      received in the Corporate Transaction is not solely common stock of the
      Successor Corporation, the Plan Administrator may, with the consent of the
      Successor Corporation, provide for the consideration to be received upon
      the exercise of the Option, for each share of Common Stock subject
      thereto, to be solely common stock of the Successor Corporation
      substantially equal in fair market value to the per share consideration
      received by holders of Common Stock in the Corporate Transaction. The
      determination of such substantial equality of value of consideration shall
      be made by the Plan Administrator and its determination shall be
      conclusive and binding.

	 	 
	(d) 	
      All Options shall terminate and cease to remain
      outstanding immediately following the Corporate Transaction, except to the
      extent assumed by the Successor Corporation.

11.4       Further
Adjustment of Awards 

Subject to Articles 11.2 and 11.3, the Plan Administrator shall
have the discretion, exercisable at any time before a sale, merger,
consolidation, reorganization, liquidation or change of control of the Company,
as defined by the Plan Administrator, to take such further action as it
determines to be necessary or advisable, and fair and equitable to the
Participants, with respect to Awards. Such authorized action may include (but
shall not be limited to) establishing, amending or waiving the type, terms,
conditions or duration of, or restrictions on, Awards so as to provide for
earlier, later, extended or additional time for exercise, lifting restrictions
and other modifications, and the Plan Administrator may take such actions with
respect to all Participants, to certain categories of Participants or only to
individual Participants. The Plan Administrator may take such action before or
after granting Awards to which the action relates and before or after any public
announcement with respect to such sale, merger, consolidation, reorganization,
liquidation or change of control that is the reason for such action. 

10

11.5       Limitations

The grant of Awards shall in no way affect the Company's right
to adjust, reclassify, reorganize or otherwise change its capital or business
structure or to merge, consolidate, dissolve, liquidate or sell or transfer all
or any part of its business or assets. 

11.6       Fractional Shares

In the event of any adjustment in the number of shares covered
by any Award, each such Award shall cover only the number of full shares
resulting from such adjustment. 

ARTICLE 12. 
AMENDMENT AND TERMINATION 

12.1       Amendment or
Termination of Plan 

The Board may suspend, amend or terminate the Plan or any
portion of the Plan at any time and in such respects as it shall deem advisable;
provided, however, that to the extent required for compliance with Section 422
of the Code or any applicable law or regulation, stockholder approval shall be
required for any amendment that would: (a) increase the total number of shares
available for issuance under the Plan, (b) modify the class of employees
eligible to receive Options, or (c) otherwise require stockholder approval under
any applicable law or regulation. Any amendment made to the Plan that would
constitute a "modification" to Incentive Stock Options outstanding on the date
of such amendment shall not, without the consent of the Participant, be
applicable to such outstanding Incentive Stock Options but shall have
prospective effect only. 

12.2       Term of Plan

Unless sooner terminated as provided herein, the Plan shall
terminate ten (10) years after the earlier of the Plan's adoption by the Board
and approval by the stockholders. 

12.3       Consent of
Participant 

The suspension, amendment or termination of the Plan or a
portion thereof or the amendment of an outstanding Award shall not, without the
Participant's consent, materially adversely affect any rights under any Award
theretofore granted to the Participant under the Plan. Any change or adjustment
to an outstanding Incentive Stock Option shall not, without the consent of the
Participant, be made in a manner so as to constitute a "modification" that would
cause such Incentive Stock Option to fail to continue to qualify as an Incentive
Stock Option. Notwithstanding the foregoing, any adjustments made pursuant to
Article 11 shall not be subject to these restrictions. 

ARTICLE 13. 
GENERAL 

13.1       Evidence of
Awards 

Awards granted under the Plan shall be evidenced by a written
instrument that shall contain such terms, conditions, limitations and
restrictions as the Plan Administrator shall deem advisable and that are not
inconsistent with the Plan. 

11

13.2       No Individual
Rights 

Nothing in the Plan or any Award granted under the Plan shall
be deemed to constitute an employment contract or confer or be deemed to confer
on any Participant any right to continue in the employ of, or to continue any
other relationship with, the Company or any Related Company or limit in any way
the right of the Company or any Related Company to terminate a Participant's
employment or other relationship at any time, with or without Cause. 

13.3       Issuance of
Shares 

Notwithstanding any other provision of the Plan, the Company
shall have no obligation to issue or deliver any shares of Common Stock under
the Plan or make any other distribution of benefits under the Plan unless, in
the opinion of the Company's counsel, such issuance, delivery or distribution
would comply with all applicable laws (including, without limitation, the
requirements of the Securities Act), and the applicable requirements of any
securities exchange or similar entity. 

The Company shall be under no obligation to any Participant to
register for offering or resale or to qualify for exemption under the Securities
Act, or to register or qualify under state securities laws, any shares of Common
Stock, security or interest in a security paid or issued under, or created by,
the Plan, or to continue in effect any such registrations or qualifications if
made. The Company may issue certificates for shares with such legends and
subject to such restrictions on transfer and stop-transfer instructions as
counsel for the Company deems necessary or desirable for compliance by the
Company with federal and state securities laws. 

To the extent the Plan or any instrument evidencing an Award
provides for issuance of stock certificates to reflect the issuance of shares of
Common Stock, the issuance may be effected on a noncertificated basis, to the
extent not prohibited by applicable law or the applicable rules of any stock
exchange.

13.4       No Rights as a
Stockholder 

No Option denominated in units shall entitle the Participant to
any cash dividend, voting or other right of a stockholder unless and until the
date of issuance under the Plan of the shares that are the subject of such
Award. 

13.5       Compliance
With Laws and Regulations 

Notwithstanding anything in the Plan to the contrary, the Plan
Administrator, in its sole discretion, may bifurcate the Plan so as to restrict,
limit or condition the use of any provision of the Plan to Participants who are
officers or directors subject to Section 16 of the Exchange Act without so
restricting, limiting or conditioning the Plan with respect to other
Participants. Additionally, in interpreting and applying the provisions of the
Plan, any Option granted as an Incentive Stock Option pursuant to the Plan
shall, to the extent permitted by law, be construed as an "incentive stock
option" within the meaning of Section 422 of the Code. 

13.6       Participants
in Other Countries 

The Plan Administrator shall have the authority to adopt such
modifications, procedures and subplans as may be necessary or desirable to
comply with provisions of the laws of other countries in which the Company or
any Related Company may operate to assure the viability of the benefits from
Awards granted to Participants employed in such countries and to meet the
objectives of the Plan. 

12

13.7       No Trust or
Fund 

The Plan is intended to constitute an "unfunded" plan. Nothing
contained herein shall require the Company to segregate any monies or other
property, or shares of Common Stock, or to create any trusts, or to make any
special deposits for any immediate or deferred amounts payable to any
Participant, and no Participant shall have any rights that are greater than
those of a general unsecured creditor of the Company. 

13.8       Severability

If any provision of the Plan or any Award is determined to be
invalid, illegal or unenforceable in any jurisdiction, or as to any person, or
would disqualify the Plan or any Award under any law deemed applicable by the
Plan Administrator, such provision shall be construed or deemed amended to
conform to applicable laws, or, if it cannot be so construed or deemed amended
without, in the Plan Administrator's determination, materially altering the
intent of the Plan or the Award, such provision shall be stricken as to such
jurisdiction, person or Award, and the remainder of the Plan and any such Award
shall remain in full force and effect. 

13.9       Choice of Law

The Plan and all determinations made and actions taken pursuant
hereto, to the extent not otherwise governed by the laws of the United States,
shall be governed by the laws of the State of Nevada without giving effect to
principles of conflicts of law. 

ARTICLE 14. 
EFFECTIVE DATE 

14.1       Effective Date of
Plan

The effective date is the date on which the Plan is adopted by
the Board. If the stockholders of the Company do not approve the Plan within
twelve (12) months after the Board's adoption of the Plan, any Incentive Stock
Options granted under the Plan will be treated as Non-Qualified Stock Options.

13

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00100-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00100-of-00352.parquet"}]]