Document:

OSTEOLOGIX,
      INC.

    

    EQUITY INCENTIVE
      PLAN

     

    1. PURPOSES
      OF THE PLAN.
      The
      purpose of the Osteologix, Inc. Equity Incentive Plan is to attract and retain
      the best available personnel for positions of substantial responsibility, to
      provide additional incentive to Employees, Directors and Consultants and to
      promote the success of the Company’s business. The Plan provides for the grant
      of Incentive Stock Options, Non-Qualified Stock Options, Restricted Stock,
      Stock
      Appreciation Rights, and Performance Stock Awards.

    

    2. DEFINITIONS.
      As used
      herein, the following definitions shall apply:

    

    2.1 Acquisition
      means
      (a) a dissolution, liquidation or sale of all or substantially all of the
      assets of the Company; (b) a merger or consolidation in which the Company
      is not the surviving corporation; or (c) a merger in which the Company is
      the surviving corporation but the shares of the Company’s common stock
      outstanding immediately preceding the merger are converted by virtue of the
      merger into other property, whether in the form of securities, cash or
      otherwise.

    

    2.2 Administrator
      means
      the Board or the Committee responsible for conducting the general administration
      of the Plan, as applicable, in accordance with Section 4
      hereof.

    

    2.3 Applicable
      Laws
      means
      the requirements relating to the administration of stock option plans under
      U.S.
      state corporate laws, U.S. federal and state securities laws, the Code, any
      stock exchange or quotation system on which the Common Stock is listed or quoted
      and the applicable laws of any foreign country or jurisdiction where Awards
      are
      granted under the Plan.

    

    2.4 Award
      means an
      award of Options, Restricted Stock, Stock Appreciation Rights or Performance
      Stock granted to a Service Provider under this Plan.

    

    2.5 Award
      Agreement
      means
      the Option Agreement or other written agreement between the Company and a
      Service Provider evidencing the terms and conditions of an individual Award.
      The
      Award Agreement shall be subject to the terms and conditions of the
      Plan.

    

    2.6 Board
      means
      the Board of Directors of the Company.

    

    2.7 Cause
      shall
      have the meaning ascribed to it in any written employment or service agreement
      between the Company (or a Parent or Subsidiary) and the Service Provider. If
      not
      so defined, “Cause” shall mean (a) a failure by the Service Provider to perform
      his or her duties or to comply with any material provision of his or her
      employment or service agreement with the Company, where such failure is not
      cured by the Service Provider within thirty (30) days after receiving written
      notice from the Company (or a Parent or Subsidiary) specifying in reasonable
      detail the nature of the failure, (b) a breach of the Service Provider’s
      fiduciary duty to the Company (or a Parent or Subsidiary) by reason of receipt
      of personal profits, (c) conviction of a felony, or (d) any other willful and
      gross misconduct committed by the Service Provider in relation to, or which
      adversely affects, the Company (or a Parent or Subsidiary).

    

    
      
         

      

      
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    2.8 Code
      means
      the Internal Revenue Code of 1986, as amended, or any successor statute or
      statutes thereto. Reference to any particular Code section shall include any
      successor section and any regulations or authorities promulgated
      thereunder.

    

    2.9 Committee
      means a
      committee appointed by the Board in accordance with Section 4
      hereof.

    

    2.10 Common
      Stock
      means
      the Common Stock of the Company, par value $.0001.

    

    2.11 Company
      means
      Osteologix, Inc. a Delaware corporation.

    

    2.12 Consultant
      means
      any consultant or adviser if: (i) the consultant or adviser renders bona
      fide services to the Company (or any Parent or Subsidiary); (ii) the
      services rendered by the consultant or adviser are not in connection with the
      offer or sale of securities in a capital-raising transaction and do not directly
      or indirectly promote or maintain a market for the Company’s securities; and
      (iii) the consultant or adviser is a natural person who has contracted
      directly with the Company or any Parent or Subsidiary of the Company to render
      such services.

    

    2.13 Director
      means a
      member of the Board.

    

    2.14 Employee
      means
      any person, including an Officer or Director, who is an employee (as defined
      in
      accordance with Section 3401(c) of the Code) of the Company (or any Parent
      or
      Subsidiary). An Employee shall not cease to be an Employee in the case of
      (i) any leave of absence approved by the Company or (ii) transfers
      between locations of the Company or between the Company, its Parent, any
      Subsidiary, or any successor. For purposes of Incentive Stock Options, no such
      leave may exceed ninety (90) days, unless reemployment upon expiration of such
      leave is guaranteed by statute or contract. Neither service as a Director nor
      payment of a director’s fee by the Company shall be sufficient, by itself, to
      constitute “employment” by the Company.

    

    2.15 Exchange
      Act
      means
      the Securities Exchange Act of 1934, as amended, or any successor statute or
      statutes thereto. Reference to any particular Exchange Act section shall include
      any successor section and any regulations or authorities promulgated
      thereunder.

    

    2.16 Fair
      Market Value
      means,
      as of any date, the fair market value of a Share determined consistent with
      the
      requirements of Sections 422 and 409A of the Code as follows:

    

    (a) If
      the
      Common Stock is listed on any established stock exchange or a national market
      system, its Fair Market Value shall be the mean between the highest and lowest
      quoted selling prices for a share of such stock (or the closing bid, if no
      sales
      were reported) as quoted on such exchange or system for the last market trading
      day prior to the time of determination, as reported in The Wall Street Journal
      or such other source as the Administrator deems reliable;

    

    
      
         

      

      
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    (b) If
      the
      Common Stock is regularly quoted by a recognized securities dealer but selling
      prices are not reported, its Fair Market Value shall be the mean between the
      high bid and low asked prices for a share of the Common Stock on the last market
      trading day prior to the day of determination; or

    

    (c) In
      the
      absence of an established market for the Common Stock, the Fair Market Value
      thereof shall be determined in good faith by the Administrator in accordance
      with Applicable Laws.

    

    2.17 Holder
      means a
      person who has been granted an Award or who becomes the holder of an Award
      or
      who holds Shares acquired pursuant to the exercise of an Award.

    

    2.18 Incentive
      Stock Option
      means an
      Option that qualifies as an incentive stock option within the meaning of
      Section 422 of the Code and which is designated as an Incentive Stock
      Option by the Administrator.

    

    2.19 Independent
      Director
      means a
      Director who is not an Employee of the Company.

    

    2.20 Non-Qualified
      Stock Option
      means an
      Option (or portion thereof) that is not designated as an Incentive Stock Option
      by the Administrator, or which is designated as an Incentive Stock Option by
      the
      Administrator but fails to qualify as an incentive stock option within the
      meaning of Section 422 of the Code.

    

    2.21 Officer
      means a
      person who is an officer of the Company within the meaning of Section 16 of
      the Exchange Act.

    

    2.22 Option
      means a
      stock option granted pursuant to the Plan.

    

    2.23 Option
      Agreement
      means
      the written agreement between the Company and a Service Provider evidencing
      the
      terms and conditions of an individual Option. The Option Agreement shall be
      subject to the terms and conditions of the Plan.

    

    2.24 Parent
      means
      any corporation (other than the Company), whether now or hereafter existing,
      in
      an unbroken chain of corporations or other entities ending with the Company
      if
      each of the entities other than the last corporation in the unbroken chain
      owns
      equity possessing more than fifty percent (50%) of the total combined voting
      power of all classes of equity in one of the other entities in such
      chain.

    

    2.25 Performance
      Stock
      means an
      Award of Performance Stock or deferred stock means a commitment to grant Shares
      in the future upon completion of specified performance criteria in accordance
      with Section 9 below.

    

    2.26 Plan
      means
      this Osteologix, Inc. Equity
      Incentive Plan.

    

    2.27 Restricted
      Stock
      means
      Shares acquired pursuant to a grant of Restricted Stock under Section 9 or
      pursuant to the exercise of an unvested Option in accordance with Section
      8.9.

     

    
      
         

      

      
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    2.28 Rule
      16b-3
      means
      that certain Rule 16b-3 under the Exchange Act.

    

    2.29 Section
      16(b)
      means
      Section 16(b) of the Exchange Act.

    

    2.30 Securities
      Act
      means
      the Securities Act of 1933, as amended, or any successor statute or statutes
      thereto. Reference to any particular Securities Act section shall include any
      successor section and any regulations or authorities promulgated
      thereunder.

    

    2.31 Service
      Provider
      means an
      Employee, Director or Consultant.

    

    2.32 Share
      means a
      share of Common Stock, as adjusted in accordance with
      Section 10.

    

    2.33 Stock
      Appreciation Right or SAR
      means a
      stock appreciation right granted in accordance with Section 9.

     

    2.34 Subsidiary
      means
      any corporation (other than the Company), whether now or hereafter existing
      in
      an unbroken chain of corporations or other entities beginning with the Company
      if each of the entities other than the last corporation in the unbroken chain
      owns equity possessing more than fifty percent (50%) of the total combined
      voting power of all classes of equity in one of the other entities in such
      chain
      or any other entity of which a majority of the outstanding voting stock or
      voting power is beneficially owned directly or indirectly by the
      Company.

     

    3. STOCK
      SUBJECT TO THE PLAN. Subject
      to the provisions of Section 10, the shares of stock subject to Award
      grants shall be shares of the Company’s Common Stock. Subject to the provisions
      of Section 10, the maximum aggregate number of Shares which may be issued
      upon exercise of Awards shall be 1,122,762. If an Award expires, is cancelled,
      becomes unexercisable or is forfeited, without having been exercised or vested
      in full, the unpurchased or unvested Shares which were subject thereto shall
      become available for future Awards under the Plan (unless the Plan has
      terminated). Shares which are delivered by the Holder or withheld by the Company
      upon the exercise of an Option or receipt of an Award, in payment of the
      exercise price thereof or tax withholding thereon, may again be awarded
      hereunder. If Shares issued pursuant to Awards are repurchased by the Company,
      such Shares shall become available for future Awards. Notwithstanding the
      provisions of this Section 3, no Shares may again be subject to future
      Award if such action would cause an outstanding Incentive Stock Option to fail
      to qualify as an incentive stock option under Code Section 422.

     

    4. ADMINISTRATION
      OF THE PLAN.

    

    4.1 Administrator.
      The
      Plan shall be administered by the Board or by a Committee to which
      administration of the Plan, or of part of the Plan, is delegated by the Board.
      The Board shall appoint and remove members of the Committee in its discretion
      in
      accordance with applicable laws. If necessary in order to comply with Rule
      16b-3
      under the Exchange Act and Section 162(m) of the Code, the Committee shall,
      in
      the Board’s discretion, be comprised solely of “non-employee directors” within
      the meaning of said Rule 16b-3 and “outside directors” within the meaning of
      Section 162(m) of the Code. The foregoing notwithstanding, the Administrator
      may
      delegate nondiscretionary administrative duties to such employees of the Company
      as it deems proper and the Board, in its absolute discretion, may at any time
      and from time to time exercise any and all rights and duties of the
      Administrator under the Plan.

    

    
      
         

      

      
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    4.2 Powers
      of the Administrator.
      Subject
      to the express provisions of the Plan and the specific duties delegated by
      the
      Board to such Committee, and subject to the approval of any relevant
      authorities, the Administrator shall have plenary authority to the maximum
      extent permissible by Applicable Law, in its sole discretion:

    

    (a) to
      determine the Fair Market Value of a Share;

    

    (b) to
      select
      the Service Providers to whom Awards may from time to time be granted
      hereunder;

    

    (c) to
      determine the number of Shares to be covered by each such Award granted
      hereunder;

    

    (d) to
      approve forms of Award Agreements for use under the Plan;

    

    (e) to
      determine the terms and conditions of any Awards granted hereunder (such terms
      and conditions include, but are not limited to, the exercise price, the time
      or
      times when Awards may vest or be exercised (which may be based on, among other
      things, the passage of time, specific events or performance criteria), any
      acceleration of such vesting or exercise date or waiver of forfeiture
      restrictions, and any restriction or limitation regarding any Shares received
      upon grant or exercise of an Award, based in each case on such factors as the
      Administrator, in its sole discretion, shall determine);

    

    (f) to
      determine whether to offer to repurchase, replace or reprice a previously
      granted Award and to determine the terms and conditions of such offer (including
      whether and purchase price is to be paid in cash or Shares);

    

    (g) to
      determine whether and under what conditions options granted under another option
      plan of the Company (or a Parent or Subsidiary) or an entity which is acquired
      by or merged into the Company (or a Parent or Subsidiary) may be converted
      into
      Options on Company Shares granted under and subject to the terms of this
      Plan;

    

    (h) to
      prescribe, amend and rescind rules and regulations relating to the Plan,
      including rules and regulations relating to sub-plans established for the
      purpose of qualifying for preferred tax treatment under foreign tax
      laws;

    

    (i) to
      allow
      Holders to satisfy withholding tax obligations by electing to have the Company
      withhold from the Shares to be issued in connection with any Award the number
      of
      Shares having a Fair Market Value equal to the minimum amount required to be
      withheld based on the statutory withholding rates for federal, state and local
      tax purposes that apply to supplemental taxable income. The Fair Market Value
      of
      the Shares to be withheld shall be determined on the date that the amount of
      tax
      to be withheld is to be determined. All elections by Holders to have Shares
      withheld for this purpose shall be made in such form and under such conditions
      as the Administrator may deem necessary or advisable;

    

    
      
         

      

      
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    (j) to
      exercise its sole discretion in a manner such that Awards which are granted
      to
      individuals who are foreign nationals or are employed outside the United States
      may contain terms and conditions which are different from the provisions
      otherwise specified in the Plan but which are consistent with the tax and other
      laws of foreign jurisdictions applicable to the Service Providers and which
      are
      designed to provide the Service Providers with benefits which are consistent
      with the Company’s objectives in establishing the Plan;

    

    (k) to
      amend
      the Plan or any Award granted under the Plan as provided in Section 10;
      and

    

    (l) to
      construe and interpret the terms of the Plan and Awards granted pursuant to
      the
      Plan and to exercise such powers and perform such acts as the Administrator
      deems necessary or desirable to promote the best interests of the Company which
      are not in conflict with the provisions of the Plan.

     

    4.3 Compliance
      with Code Section 409A.
      Notwithstanding any other provision of the Plan, the Administrator shall have no
      authority to issue an Award under the Plan under terms and conditions which
      would cause such Award to be considered nonqualified “deferred compensation”
subject to the provisions of Code Section 409A, including by way of example
      but
      not limitation, no Options or Stock Appreciation Rights shall be issued with
      an
      exercise price below Fair Market Value and all Restricted Stock and Performance
      Stock Shares shall be issued and reported as income to the Holder no later
      than
      two and one half (21⁄2) months after the end of the calendar year in which the
      right to such Shares becomes vested.

    

    4.4 Effect
      of Administrator’s Decision.
      All
      decisions, determinations and interpretations of the Administrator shall be
      final and binding on all Holders.

    

    4.5 Liability
      of Administrator.
      No
      member of the Board, Committee or Administrator shall be liable for anything
      whatsoever in connection with the administration of the Plan except such
      person’s own willful misconduct. Under no circumstances shall any member of the
      Board or Committee be liable for any act or omission of any other member of
      the
      Board or Committee. In the performance of its functions with respect to the
      Plan, the Board and Committee shall be entitled to rely upon information and
      advice furnished by Company’s officers, Company’s accountants, Company’s legal
      counsel and any other party the Board or Committee, as the case may be, deems
      necessary, and no member of the Board or Committee shall be liable for any
      action taken or not taken in reliance upon any such advice.

     

    5. ELIGIBILITY.

    

    5.1 Eligible
      Persons.
      Non-Qualified Stock Options, Restricted Stock, Stock Appreciation Rights, and
      Performance Stock may be granted to all Service Providers. Incentive Stock
      Options may be granted only to Employees.

     

    5.2 Administrative
      Discretion.
      If
      otherwise eligible, a Service Provider who has been granted an Award may be
      granted additional Awards. In exercising its authority to set the terms and
      conditions of Awards, and subject only to the limits of Applicable Law, the
      Administrator shall be under no obligation or duty to treat similarly situated
      Service Providers or Holders in the same manner, and any action taken by the
      Administrator with respect to one Service Provider or Holder shall in no way
      obligate the Administrator to take the same or similar action with respect
      to
      any other Service Provider or Holder.

     

    
      
         

      

      
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    5.3 Section
      162(m) Limitation.
      No
      Service Provider shall be granted, in any calendar year, Options or Stock
      Appreciation Rights covering more than 100,000 Shares. The foregoing limitation
      shall be adjusted proportionately in connection with any change in the Company’s
      capitalization as described in Section 10. For purposes of this Section, if
      an
      Option is canceled in the same calendar year it was granted (other than in
      connection with a transaction described in Section 10), the canceled Option
      shall be counted against the limit set forth in this Section. For this purpose,
      if the exercise price of an Option is reduced, the transaction shall be treated
      as a cancellation of the Option and the grant of a new Option. 

     

    6. OPTIONS.

    

    6.1 Grant
      of Options.
      The
      Committee may grant Options to such Service Providers, for such number of
      Shares, and subject to such terms and conditions as the Committee may determine
      in its sole discretion. Each Option shall be designated by the Administrator
      in
      the Option Agreement as either an Incentive Stock Option or a Non-Qualified
      Stock Option. However, notwithstanding such designations, to the extent that
      the
      aggregate Fair Market Value of Shares subject to a Holder’s Incentive Stock
      Options and other incentive stock options granted by the Company, any Parent
      or
      Subsidiary, which become exercisable for the first time during any calendar
      year
      (under all plans of the Company or any Parent or Subsidiary) exceeds one hundred
      thousand dollars ($100,000), such excess Options or other options shall be
      treated as Non-Qualified Stock Options. For purposes of this subsection (a),
      Incentive Stock Options shall be taken into account in the order in which they
      were granted, and the Fair Market Value of the Shares shall be determined as
      of
      the time of grant of each Option.

    

    6.2 Term
      of Option.
      The
      term of each Option shall be stated in the Option Agreement; provided,
      however
      that the
      term shall be no more than ten (10) years from the date of grant thereof. In
      the
      case of an Incentive Stock Option granted to an Employee who, at the time the
      Option is granted, owns (or is treated as owning under Code Section 424) stock
      representing more than ten percent (10%) of the total combined voting power
      of
      all classes of stock of the Company or any Parent or Subsidiary, the term of
      the
      Option shall be no more than five (5) years from the date of grant.

    

    6.3 No
      Shareholder Rights.
      The
      Holder of an Option shall have no rights of a stockholder with respect to Shares
      covered by such Option until the Holder exercises the Option and the Shares
      are
      issued to the Holder. In the event existing Shares are used to satisfy all
      or
      part of the exercise price of any Options, such Holder shall be treated as
      continuing to own such Share until the new Shares have been issued.

     

    7. OPTION
      EXERCISE PRICE AND CONSIDERATION.

    

    7.1 Exercise
      Price.
      Except
      as provided in Section 10, the per share exercise price for the Shares to
      be issued upon exercise of an Option shall be such price as is determined by
      the
      Administrator (not less than par value), under the following
      conditions:

    

    
      
         

      

      
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    (a) the
      per
      Share exercise price for any Incentive Stock Option or Non-Qualified Stock
      Option granted under that Plan shall be no less (and shall have not potential
      to
      become less at any time) than one hundred percent (100%) of the Fair Market
      Value per Share on the date of grant; and

    

    (b) if
      at the
      time of grant of an Option, the Service Provider owns (or is treated as owning
      under Applicable Laws) stock representing more than ten percent (10%) of the
      voting power of all classes of stock of the Company or any Parent or Subsidiary,
      an Incentive Stock Option (or to the extent required by Applicable Law, a
      Nonqualified Stock Option) granted to such Service Provider shall bear an
      exercise price of no less than one hundred ten percent (110%) of the Fair Market
      Value per Share on the date of grant.

    

    Notwithstanding
      the foregoing, Options may be granted with, or converted at, a per Share
      exercise price other than as required above pursuant to a merger, acquisition
      or
      other corporate transaction consistent if consistent with the requirements
      of
      Applicable Laws.

    

    7.2 Consideration.
      The
      consideration to be paid for the Shares to be issued upon exercise of an Option,
      including the method of payment, shall be determined by the Administrator (and,
      in the case of an Incentive Stock Option, shall be determined at the time of
      grant). Such consideration may consist of (a) cash, (b) check, (c)
      with the consent of the Administrator and to the extent consistent with
      Applicable Laws, a full recourse promissory note bearing interest (at no less
      than such rate as shall then preclude the imputation of interest under the
      Code)
      and payable upon such terms as may be prescribed by the Administrator,
      (d) with the consent of the Administrator, other Shares which (x) in
      the case of Shares acquired from the Company, have been owned by the Holder
      for
      more than six (6) months on the date of surrender, and (y) have a Fair
      Market Value on the date of surrender equal to the aggregate exercise price
      of
      the Shares as to which such Option shall be exercised, (e) with the consent
      of the Administrator, surrendered Shares then issuable upon exercise of the
      Option having a Fair Market Value on the date of exercise equal to the aggregate
      exercise price of the Option or exercised portion thereof, (f) with the
      consent of the Administrator, property of any kind which constitutes good and
      valuable consideration, (g) with the consent of the Administrator, and, to
      the extent consistent with Applicable Laws, delivery of a notice that the Holder
      has placed a market sell order with a broker with respect to Shares then
      issuable upon exercise of the Options and that the broker has been directed
      to
      pay a sufficient portion of the net proceeds of the sale to the Company in
      satisfaction of the Option exercise price, provided,
      that
      payment of such proceeds is then made to the Company upon settlement of such
      sale, or (8) with the consent of the Administrator, any combination of the
      foregoing methods of payment.

     

    8. EXERCISE
      OF OPTION.

    

    8.1 Vesting;
      Fractional Exercises.
      Except
      as provided in Section 10, Options granted hereunder shall be vested and
      exercisable according to the terms hereof at such times and under such
      conditions as determined by the Administrator and set forth in the Option
      Agreement. Unless otherwise specified or to the extent required by Applicable
      Law, Options granted under the Plan granted to an Employee who is not an Officer
      or Director or a Consultant shall vest at a rate of at least twenty percent
      (20%) per year over not more than five (5) years from the date the Option is
      granted, subject to reasonable conditions such as continued service. No Option
      may be exercised for a fraction of a Share.

    

    
      
         

      

      
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    8.2 Deliveries
      upon Exercise.
      All or
      a portion of an exercisable Option shall be deemed exercised upon delivery
      of
      all of the following to the Secretary of the Company or his or her
      office:

    

    (a) A
      written
      or electronic notice complying with the applicable rules established by the
      Administrator stating that the Option, or a portion thereof, is exercised.
      The
      notice shall be signed by the Holder or other person then entitled to exercise
      the Option or such portion of the Option;

    

    (b) Such
      representations and documents as the Administrator, in its sole discretion,
      deems necessary or advisable to effect compliance with Applicable Laws. The
      Administrator may, in its sole discretion, also take whatever additional actions
      it deems appropriate to effect such compliance, including, without limitation,
      placing legends on Share certificates and issuing stop transfer notices to
      agents and registrars;

    

    (c) Upon
      the
      exercise of all or a portion of an unvested Option pursuant to Section 8.9,
      a Restricted Stock grant agreement in a form determined by the Administrator
      and
      signed by the Holder or other person then entitled to exercise the Option or
      such portion of the Option; and

    

    (d) In
      the
      event that the Option shall be exercised pursuant to Section 8.6,
      appropriate proof of the right of such person or persons to exercise the
      Option.

    

    (e) The
      applicable exercise price, plus any amounts required to be withheld by the
      Company by Applicable Law in connection with such exercise.

    

    8.3 Conditions
      to Delivery of Share Certificates.
      The
      Company shall not be required to issue or deliver any certificate or
      certificates for Shares purchased upon the exercise of any Option or portion
      thereof prior to fulfillment of all of the following conditions:

    

    (a) The
      admission of such Shares to listing on all stock exchanges on which such class
      of stock is then listed;

    

    (b) The
      completion of any registration or other qualification of such Shares under
      any
      state or federal law, or under the rulings or regulations of the Securities
      and
      Exchange Commission or any other governmental regulatory body which the
      Administrator shall, in its sole discretion, deem necessary or
      advisable;

    

    (c) The
      obtaining of any approval or other clearance from any state or federal
      governmental agency which the Administrator shall, in its sole discretion,
      determine to be necessary or advisable;

    

    (d) The
      lapse
      of such reasonable period of time following the exercise of the Option as the
      Administrator may establish from time to time for reasons of administrative
      convenience; and

    

    
      
         

      

      
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    (e) The
      receipt by the Company of full payment for such Shares, including payment of
      any
      applicable withholding tax, which shall be determined in the sole discretion
      of
      the Administrator and may be in the form of consideration used by the Holder
      to
      pay for such Shares under Section 7.2.

    

    8.4 Termination
      of Relationship as a Service Provider.
      If a
      Holder ceases to be a Service Provider other than by reason of the Service
      Provider’s disability or death or termination for Cause, unless otherwise
      specified in the Options Agreement, the Option shall remain exercisable for
      the
      lesser of three (3) months following the Service Provider’s termination or the
      remaining term of the Option. If the Holder is terminated for Cause, the Option
      shall terminate upon such termination for Cause. If, on the date of termination,
      the Holder is not vested as to the entire Option, unless otherwise provided
      in
      the Option Agreement, the Shares covered by the unvested portion of the Option
      immediately cease to be issuable under the Option. If, after termination, the
      Holder does not exercise the Option within the applicable time period, the
      Option shall terminate.

    

    8.5 Disability
      of Holder.
      If a
      Holder ceases to be a Service Provider as a result of the Service Provider’s
      disability, unless otherwise specified in the Option Agreement, the Option
      shall
      remain exercisable for the lesser of twelve (12) months following such
      cessation or the remaining term of the Option. If such disability is not a
      “disability” as such term is defined in Section 22(e)(3) of the Code, in
      the case of an Incentive Stock Option such Incentive Stock Option shall
      automatically cease to be treated as an Incentive Stock Option and shall be
      treated for federal income tax purposes as a Non-Qualified Stock Option from
      and
      after the day which is three (3) months and one (1) day following such
      termination. If, on the date of termination, the Holder is not vested as to
      the
      entire Option, the Shares covered by the unvested portion of the Option shall
      immediately cease to be issuable under the Option. If, after termination, the
      Holder does not exercise the Option within the time specified herein, the Option
      shall terminate.

     

    8.6 Death
      of Holder.
      If a
      Service Provider dies, unless otherwise specified in the Option Agreement,
      the
      Option shall remain exercisable for the lesser of twelve (12) months following
      such event or the remaining term of the Option. If, at the time of death, the
      Service Provider is not vested as to the entire Option, the Shares covered
      by
      the unvested portion of the Option shall immediately cease to be issuable under
      the Option. The Option may be exercised by the executor or administrator of
      the
      Holder’s estate or, if none, by the person(s) entitled to exercise the Option
      under the Holder’s will or the laws of descent or distribution. If the Option is
      not so exercised within the time specified herein, the Option shall
      terminate.

    

    8.7 Resignation
      for Good Reason.
      In the
      event a Holder ceases to be a Service Provider on account of the Holder’s
      resignation for “Good Reason” as such term is defined in an employment or
      service contract between the Company and the Holder (if no definition is
      applicable this Section shall not be applicable), unless otherwise provided
      in
      the Option Agreement, the Option shall remain exercisable for the lesser of
      twelve (12) months following the Holder’s termination or the remaining term
      of the Option. In the case of an Incentive Stock Option such Incentive Stock
      Option shall automatically cease to be treated as an Incentive Stock Option
      and
      shall be treated for tax purposes as a Non-Qualified Stock Option from and
      after
      the day which is three (3) months and one (1) day following such termination.
      If, on the date of termination, the Holder is not vested as to the entire
      Option, the Shares covered by the unvested portion of the Option shall
      immediately cease to be issuable under the Option. If, after termination, the
      Holder does not exercise the Option within the time specified herein, the Option
      shall terminate.

    

    
      
         

      

      
        10

        
          

        

      

      
         

      

       

    

    8.8 Regulatory
      Extension.
      A
      Holder’s Option Agreement may provide that if the exercise of the Option
      following the termination of the Holder’s status as a Service Provider (other
      than upon the Holder’s death or disability) would be prohibited at any time
      solely because the issuance of Shares would violate the registration
      requirements under the Securities Act, then the Option shall terminate on the
      earlier of (i) the expiration of the term of the Option set forth in
      Section 9 or (ii) the expiration of a period of three (3) months after the
      earliest date following the termination of the Holder’s status as a Service
      Provider on which the exercise of the Option would not be in violation of such
      registration requirements.

    8.9 Early
      Exercisability.
      The
      Administrator may provide in the terms of a Holder’s Option Agreement that the
      Holder may, at any time before the Holder’s status as a Service Provider
      terminates, exercise the Option in whole or in part in exchange for Restricted
      Stock prior to the full vesting of the Option; provided
      however,
      that
      Shares acquired upon exercise of an Option which has not fully vested may be
      subject to any forfeiture, transfer or other restrictions as the Administrator
      may determine in its sole discretion.

    

    8.10 Buyout
      Provisions.
      The
      Administrator may at any time offer to repurchase for a payment in cash or
      Shares, an Option previously granted, based on such terms and conditions as
      the
      Administrator shall establish and communicate to the Holder at the time that
      such offer is made

    

    8.11 No
      Deferral Feature.
      Notwithstanding anything herein to the contrary, the Option Agreement shall
      not
      provide for any deferral feature with respect to an Option constituting a
      deferral of compensation under Section 409A of the Code.

     

    9. EQUITY
      BASED AWARDS OTHER THAN OPTIONS 

    

    9.1 Restricted
      Stock Awards.

    

    9.1.1 Restricted
      Stock Grant.
      The
      Administrator may grant Restricted Stock to such Service Providers, in such
      amounts, and subject to such terms and conditions as the Administrator may
      determine, in its sole discretion, including such restrictions on
      transferability and other restrictions as the Administrator may impose, which
      restrictions may lapse separately or in combination at such times, under such
      circumstances, in such installments, or otherwise, as the Administrator shall
      determine. Unless otherwise specified or to the extent required by Applicable
      Law, restrictions on transferability with respect to a Restricted Stock granted
      to an Employee who is not an Officer or Director or a Consultant, shall lapse
      at
      a rate of at least twenty percent (20%) per year over a period of not more
      than
      five (5) years.

    

    9.1.2 Award
      Agreement.
      Restricted Stock shall be granted under an Award Agreement and shall be
      evidenced by certificates registered in the name of the Holder and bearing
      an
      appropriate legend referring to the terms, conditions, and restrictions
      applicable to such Restricted Stock. The Company may retain physical possession
      of any such certificates, and the Company may require a Service Provider awarded
      Restricted Stock to deliver a stock power to the Company, endorsed in blank,
      relating to the Restricted Stock for so long as the Restricted Stock is subject
      to a risk of forfeiture.

    

    
      
         

      

      
        11

        
          

        

      

      
         

      

       

    

    9.1.3 Restricted
      Stock Purchase.
      The
      Administrator may require a Service Provider to pay a purchase price to receive
      Restricted Stock at the time the Award is granted. In which case the purchase
      price and the form and timing of payment, shall be specified in the Award
      Agreement in addition to the vesting provisions and other applicable
      terms.

    

    9.1.4 No
      Deferral Provisions.
      A
      Restricted Stock Award shall not provide for any deferral of compensation
      recognition after vesting with respect to Restricted Stock which would cause
      the
      Award to constitute a deferral of compensation subject to Section 409A of the
      Code.

    

    9.1.5 Rights
      as a Shareholder.
      The
      Holder of Restricted Stock shall have rights equivalent to those of a
      shareholder and shall be a shareholder when the Restricted Stock grant is
      entered upon the records of the duly authorized transfer agent of the
      Company.

     

    9.2 Stock
      Appreciation Rights.
      Two
      types of Stock Appreciation Rights (“SARs”) shall be authorized for issuance
      under the Plan: (1) stand-alone SARs and (2) stapled SARs. The Award Agreement
      granting an SAR shall be in such form and shall contain such terms and
      conditions as the Board shall deem appropriate and shall not include terms
      which
      cause the Award to be considered nonqualified deferred compensation subject
      to
      the provisions of Section 409A of the Code. The terms and conditions of Stock
      Appreciation Right Award Agreements need not be identical, but each Award
      Agreement shall include (through incorporation of provisions hereof by reference
      in the Award Agreement or otherwise) the substance of each of the following
      provisions:

    

    9.2.1 Stand-Alone
      SARs.
      Stand-alone SARs shall cover a specified number of underlying shares of Common
      Stock and shall be redeemable upon such terms and conditions as the Board may
      establish. Upon redemption of the stand-alone SAR, the holder shall be entitled
      to receive a distribution from the Company in an amount equal to the excess,
      if
      any, of (i) the aggregate Fair Market Value on the redemption date of the Shares
      underlying the redeemed right over (ii) the aggregate base price of such
      underlying Shares at the time of grant. The distribution shall be in cash or
      Shares as specified in the Award Agreement unless distribution in Shares is
      necessary to avoid application of Code Section 409A, in which case the
      distribution shall be in Shares. The number of Shares underlying each
      stand-alone SAR and the base price of such Shares shall be determined by the
      Administrator in its sole discretion at the time the stand-alone SAR is granted.
      In no event, however, may the base price be less than (and shall have not
      potential to become less at any time) one hundred percent (100%) of the Fair
      Market Value of the underlying Shares on the grant date.

    

    9.2.2 Stapled
      SARs.
      Stapled
      SARs shall only be granted concurrently with an Option to acquire the same
      number of Shares as the number of such shares underlying the stapled SARs.
      Stapled SARs shall be redeemable upon such terms and conditions as the
      Administrator may establish and shall grant a holder the right to elect among
      (i) the exercise of the concurrently granted Option for Shares, whereupon the
      number of Shares subject to the stapled SARs shall be reduced by an equivalent
      number, (ii) the redemption of such stapled SARs in exchange for a distribution
      from the Company in an amount equal to the excess of the Fair Market Value
      on
      the redemption date of the number of vested Shares which the holder redeems
      over
      the aggregate base price for such vested Shares, whereupon the number of Shares
      subject to the concurrently granted Option shall be reduced by any equivalent
      number, or (iii) a combination of (i) and (ii). The distribution under
      alternative (ii) shall be in cash or Shares as specified in the Award Agreement
      unless distribution in Shares is necessary to avoid application of Code Section
      409A, in which case the distribution shall be in Shares. The exercise/base
      price
      of such Shares shall be determined by the Administrator at the time the Option
      and Stapled SAR is granted; however, in no event, may the exercise/base price
      be
      less than one hundred percent (100%) of the Fair Market Value of the underlying
      Shares on the grant date.

    

    
      
         

      

      
        12

        
          

        

      

      
         

      

       

    

    9.2.3 No
      Shareholder or Secured Rights.
      The
      Holder of an SAR shall have no rights of a stockholder with respect to Shares
      covered by the SAR unless and until the SAR is exercised and Shares are issued
      to the Holder. Prior to receipt of a cash distribution or Shares pursuant to
      an
      SAR, such Award shall represent an unfunded unsecured contractual obligation
      of
      the Company and the Company shall be under no obligation to set aside any Shares
      or other assets to fund such obligation. Prior to vesting and exercise, the
      Holder shall have no greater claim to the Shares underlying such SAR or any
      other assets of the Company than any other unsecured general creditor and such
      rights may not be sold, pledged, assigned, transferred or encumbered in any
      manner other than by will or by the laws of intestate succession as provided
      in
      Section 11.

    

    9.3 Performance
      Stock.

    

    9.3.1 Performance
      Stock Awards.
      The
      Administrator may make Performance Stock Awards entitling recipients to acquire
      shares of Stock upon the attainment of specified performance goals. The
      Administrator may make Performance Stock Awards independent of or in connection
      with the granting of any other Award under the Plan. The Administrator in its
      sole discretion, shall determine the performance goals applicable under each
      such Award, the periods during which performance is to be measured, and all
      other limitations and conditions applicable to the awarded Performance
      Stock.

    

    9.3.2 Award
      Agreement.
      Performance Stock shall be granted under an Award Agreement and shall be
      evidenced by certificates registered in the name of the Holder and bearing
      an
      appropriate legend referring to the terms, conditions, and restrictions
      applicable to such Performance Stock.

    

    9.3.3 No
      Deferral Provisions.
      A
      Performance Stock Award shall provide for prompt issuance of Shares upon vesting
      of the Award and shall not include any deferral of issuance and compensation
      recognition after vesting would cause the Award to constitute a deferral of
      compensation subject to Section 409A of the Code. The Administrator may at
      any
      time accelerate or waive any or all of the goals, restrictions or conditions
      imposed under any Performance Stock Award.

    

    
      
         

      

      
        13

        
          

        

      

      
         

      

       

    

    9.3.4 No
      Shareholder of Secured Rights.
      A
      Holder shall be entitled to receive a stock certificate evidencing the
      acquisition of Shares under a Performance Stock Award only upon satisfaction
      of
      all conditions specified in the Award Agreement evidencing the Award. A Holder
      receiving a Performance Stock Award shall have no rights of a stockholder as
      to
      Shares covered by such Award unless and until such Shares are issued to the
      Holder under the Plan. Prior to receipt of the Shares underlying such Award,
      a
      Performance Stock Award shall represent no more than an unfunded unsecured
      contractual obligation of the Company and the Company shall be under no
      obligation to set aside any assets to fund such Award. Prior to vesting and
      issuance of the Shares, the Holder shall have no greater claim to the Common
      Stock underlying such Award or any other assets of the Company than any other
      unsecured general creditor and such rights may not be sold, pledged, assigned
      or
      transferred in any manner other than by will or by the laws of intestate
      succession as provided in Section 11.

     

    10. ADJUSTMENTS
      UPON CHANGES IN CAPITALIZATION, MERGER OR ASSET SALE.

    

    10.1 Corporate
      Transaction or Capitalization Event.
      In the
      event that the Administrator determines that any dividend or other distribution
      (whether in the form of cash, Common Stock, other securities, or other
      property), recapitalization, reclassification, stock split, reverse stock split,
      reorganization, merger, consolidation, split-up, spin-off, combination,
      repurchase, liquidation, dissolution, or sale, transfer, exchange or other
      disposition of all or substantially all of the assets of the Company, or
      exchange of Common Stock or other securities of the Company, issuance of
      warrants or other rights to purchase Common Stock or other securities of the
      Company, or other similar corporate transaction or event, in the Administrator’s
      sole discretion, affects the Common Stock such that an adjustment is determined
      by the Administrator to be appropriate in order to prevent dilution or
      enlargement of the benefits or potential benefits intended by the Company to
      be
      made available under the Plan or with respect to any Award, then the
      Administrator shall, in such manner as it may deem equitable, adjust any or
      all
      of:

    

    (a) the
      number and kind of shares of Common Stock (or other securities or property)
      with
      respect to which Awards may be granted (including, but not limited to,
      adjustments of the limitations in Section 3 on the maximum number and kind
      of Shares which may be issued and adjustments of the maximum number of Shares
      that may be purchased by any Holder in any calendar year pursuant to
      Section 5.3);

     

    (b) the
      number and kind of shares of Common Stock (or other securities or property)
      subject to outstanding Awards; and

    

    (c) the
      grant
      or exercise price with respect to any Award.

    

    10.2 Administrative
      Discretion.
      In the
      event of any transaction or event described in subsection (a) hereof, the
      Administrator, in its sole discretion, and on such terms and conditions as
      it
      deems appropriate, either by the terms of the Award or by action taken prior
      to
      the occurrence of such transaction or event and either automatically or upon
      the
      Holder’s request, is hereby authorized to take any one or more of the following
      actions whenever the Administrator determines that such action is appropriate
      in
      order to prevent dilution or enlargement of the benefits or potential benefits
      intended by the Company to be made available under the Plan or with respect
      to
      any Award granted or issued under the Plan or to facilitate such transaction
      or
      event:

    

    
      
         

      

      
        14

        
          

        

      

      
         

      

       

    

    (a) To
      provide for either the purchase of any such Award or Restricted Stock for an
      amount of cash equal to the amount that could have been obtained upon the
      exercise or realization of the Holder’s rights had such Award been currently
      exercisable or payable or fully vested, or the replacement of such Award with
      other rights or property selected by the Administrator in its sole
      discretion;

    

    (b) To
      provide that such Award shall be exercisable or vested as to all Shares covered
      thereby, notwithstanding anything to the contrary in the Plan or the provisions
      of such Award;

    

    (c) To
      provide that such Award be assumed by the successor or survivor corporation,
      or
      a parent or subsidiary thereof, or shall be substituted for by similar options,
      rights or awards covering the stock of the successor or survivor corporation,
      or
      a parent or subsidiary thereof, with appropriate adjustments as to the number
      and kind of shares and prices;

    

    (d) To
      make
      adjustments in the number and type of shares of Common Stock (or other
      securities or property) subject to outstanding Awards and/or in the terms and
      conditions of (including the grant or exercise price), and the criteria included
      in, outstanding Awards or Awards which may be granted in the future;
      or

    

    (e) To
      provide that immediately upon the consummation of such event, such Award shall
      terminate; provided,
      that
      for a specified period of time prior to such event, such Award shall be fully
      vested and exercisable as to all Shares covered thereby, notwithstanding
      anything to the contrary in the Plan or the provisions of such Award
      Agreement.

    

    (f) Subject
      to the limitations set forth in the Plan, the Administrator may, in its sole
      discretion, include such further provisions and limitations in any Award
      Agreement or certificate, as it may deem appropriate.

    

    (g) Notwithstanding
      the terms of subsection (b) above, if the Company undergoes an acquisition,
      then
      any surviving corporation or entity or acquiring corporation or entity, or
      affiliate of such corporation or entity, may assume any Award outstanding under
      the Plan for the acquiring entity’s stock awards (including an award to acquire
      the same consideration paid to the shareholders in the transaction described
      in
      this subsection (d)) or may substitute similar stock awards (including an award
      to acquire the same consideration paid to the shareholders in the transaction
      described in this subsection (d)) for those outstanding under the Plan. In
      the
      event any surviving corporation or entity or acquiring corporation or entity
      in
      an Acquisition, or affiliate of such corporation or entity, does not assume
      an
      Award or does not substitute similar stock awards for those outstanding under
      the Plan, then with respect to (i) Awards held by participants in the Plan
      whose
      status as a Service Provider has not terminated prior to such event, the vesting
      of such Awards shall be accelerated and made fully exercisable and all
      restrictions thereon shall lapse at least ten (10) days prior to the closing
      of
      the Acquisition, and (ii) all Awards outstanding under the Plan shall be
      terminated if not exercised prior to the closing of the
      Acquisition.

    

    
      
         

      

      
        15

        
          

        

      

      
         

      

       

    

    (h) The
      existence of the Plan, any Award or Award Agreement hereunder shall not affect
      or restrict in any way the right or power of the Company or the shareholders
      of
      the Company to make or authorize any adjustment, recapitalization,
      reorganization or other change in the Company’s capital structure or its
      business, any merger or consolidation of the Company, any issue of stock or
      of
      options, warrants or rights to purchase stock or of bonds, debentures, preferred
      or prior preference stocks whose rights are superior to or affect the Common
      Stock or the rights thereof or which are convertible into or exchangeable for
      Common Stock, or the dissolution or liquidation of the Company, or any sale
      or
      transfer of all or any part of its assets or business, or any other corporate
      act or proceeding, whether of a similar character or otherwise.

     

    11. NON-TRANSFERABILITY
      OF AWARDS.
      No Award
      granted under this Plan may be directly or indirectly sold, pledged, assigned,
      hypothecated, transferred, disposed or encumbered of in any manner whatsoever,
      other than by will or by the laws of descent or distribution prior to vesting
      and exercise (if applicable) under the terms of the Award and may be exercised,
      during the lifetime of the Service Provider, only by the Service
      Provider.

    

    12. NO
      RIGHT TO CONTINUED EMPLOYMENT OR SERVICE.
      Nothing
      in this Plan shall confer upon any Service Provider any right with respect
      to
      continuation of employment by or consultancy to the Company, nor shall it
      interfere in any way with the Company’s or any Subsidiary’s right to terminate
      any Service Provider’s employment or consultancy at any time, with or without
      cause and with or without prior notice.

     

    13. TERM
      OF PLAN.
      The
      Plan
      shall become effective upon its initial adoption by the Board and shall continue
      in effect until it is terminated under Section 15 of the Plan. No Award may
      be
      issued under the Plan after the tenth (10th) anniversary of the earlier of
      (i)
      the date upon which the Plan is adopted by the Board or (ii) the date the Plan
      is approved by the shareholders.

     

    14. TIME
      OF GRANTING OF AWARDS.
      The
      date
      of grant of an Award shall, for all purposes, be the date on which the
      Administrator makes the determination granting such Award, or such other date
      as
      is determined by the Administrator. Notice of the determination shall be given
      to each Service Provider to whom an Award is so granted within a reasonable
      time
      after the date of such grant.

     

    15. AMENDMENT
      AND TERMINATION OF THE PLAN.

    

    15.1 Amendment
      and Termination.
      The
      Board may at any time wholly or partially amend, alter, suspend or terminate
      the
      Plan. However, without approval of the Company’s shareholders given within
      twelve (12) months before or after the action by the Board, no action of the
      Board may, except as provided in Section 10, increase the limits imposed in
      Section 3 on the maximum number of Shares which may be issued under the
      Plan or extend the term of the Plan under Section 13.

    

    
      
         

      

      
        16

        
          

        

      

      
         

      

       

    

    15.2 Shareholder
      Approval.
      The
      Board shall obtain shareholder approval of any Plan amendment to the extent
      necessary and desirable to comply with Applicable Laws.

    

    15.3 Effect
      of Amendment or Termination.
      No
      amendment, alteration, suspension or termination of the Plan shall impair the
      rights of any Holder, unless mutually agreed otherwise between the Holder and
      the Administrator, which agreement must be in writing and signed by the Holder
      and the Company; provided,
      however,
      that
      the foregoing shall not limit the authority of the Administrator to exercise
      all
      authority and discretion conveyed to it herein or in any Award Agreement.
      Termination of the Plan shall not affect the Administrator’s ability to exercise
      the powers granted to it hereunder with respect to Awards granted under the
      Plan
      prior to the date of such termination.

     

    16. SHAREHOLDER
      APPROVAL.
      The Plan
      shall be submitted for the approval of the Company’s shareholders within twelve
      (12) months after the date of the Board’s initial adoption of the Plan. Awards
      may be granted prior to such shareholder approval, provided
      that
      such Awards shall not be exercisable, shall not vest and the restrictions
      thereon shall not lapse prior to the time when the Plan is approved by the
      shareholders, and provided
      further
      that if
      such approval has not been obtained at the end of said twelve-month period,
      all
      Awards previously granted or awarded under the Plan shall thereupon be canceled
      and become null and void.

     

    17. INABILITY
      TO OBTAIN AUTHORITY.
      The
      inability of the Company to obtain authority from any regulatory body having
      jurisdiction, which authority is deemed by the Company’s counsel to be necessary
      to the lawful issuance and sale of any Shares hereunder, shall relieve the
      Company of any liability in respect of the failure to issue or sell such Shares
      as to which such requisite authority shall not have been obtained.

     

    18. RESERVATION
      OF SHARES.
      The
      Company, during the term of this Plan, shall at all times reserve and keep
      available such number of Shares as shall be sufficient to satisfy the
      requirements of the Plan.

     

    19. GOVERNING
      LAW.
      The
      validity and enforceability of this Plan shall be governed by and construed
      in
      accordance with the laws of the State of New York without regard to otherwise
      governing principles of conflicts of law.

    

    *
      * * * *
      * *

    

    I
      hereby
      certify that the Plan was duly adopted by the Board of Directors of the Company
      on _______________, ____.

    

    Executed
      at ________________________, _______________ on this ____ day of ____________,
      ____.

     

    
      	 	
              By:
                _________________________________

              Name:
                _______________________________

              Title: 
                ________________________________

            

    

     

    *
      * * * *
      * *

    

    
      
         

      

      
        17

        
          

        

      

      
         

      

       

    

    I
      hereby
      certify that the foregoing Plan was approved by the shareholders of the Company
      on _______________, ____.

    

    Executed
      at ______________________, _________________ on this ____ day of _____________,
      ____.

    

    
      
         

      

      
        18

        
          

        

      

      
         

      

    

    SAMPLE

    EQUITY
      INCENTIVE PLAN

    STOCK
      OPTION AGREEMENT

    

    Osteologix,
      Inc. (the “Company”),
      pursuant to its Equity Incentive Plan (the “Plan”),
      hereby grants to the Optionee listed below (“Optionee”),
      an
      option to purchase the number of shares of the Company’s Common Stock set forth
      below, subject to the terms and conditions of the Plan and this Stock Option
      Agreement. Unless otherwise defined herein, the terms defined in the Plan shall
      have the same defined meanings in this Stock Option Agreement.

    

    
      	
              I.

            	
              NOTICE
                OF STOCK OPTION GRANT

            

    

     

    
      	
              Optionee:

            	 	
              [__________]

            
	
              Type
                of Option

              Date
                of Stock Option Agreement:

            	 	
              [Non-Qualified
                or Incentive Stock Option]

              [__________]

            
	
              Date
                of Grant:

            	 	
              [__________]

            
	
              Vesting
                Date or Schedule:

            	 	
              [__________]

            
	
              Exercise
                Price per Share:

            	 	
              $[not
                less than 100% of the Fair Market Value as of the Date of
                Grant]

            
	
              Total
                Number of Shares Granted:

            	 	
              [__________]

            
	
              Total
                Exercise Price:

            	 	
              $[Exercise
                Price per Share times Total Number of Shares Granted]

            
	
              Term/Expiration
                Date:

            	 	
              [No
                later than tenth anniversary of the Date of
                Grant]

            

    

    

    
      	
              II.

            	
              OPTION
                AGREEMENT

            

    

    

    1. Grant
      of Option.
      The
      Company hereby grants to the Optionee an Option to purchase the Common Stock
      (the “Shares”)
      set
      forth in Section I above, at the exercise price per share set forth in
      Section I above (the “Exercise
      Price”).
      Notwithstanding anything to the contrary anywhere else in this Option Agreement,
      this grant of an Option is subject to the terms, definitions and provisions
      of
      the Plan
      adopted
      by the Company, which are incorporated herein by reference

    

    2. Vesting.
      Subject
      to the limitations contained herein, an Option will vest as provided in your
      Grant Notice, provided that vesting will cease upon the Optionee ceasing to
      be a
      Service Provider.

    

    3. Number
      of Shares and Exercise Price.
      The
      number of shares of Common Stock subject to your Option and your exercise price
      per share referenced in your Grant Notice may be adjusted from time to time
      for
      various adjustments in the Company’s equity capital structure, as provided in
      the Plan.

    

    
      
         

      

      
        19

        
          

        

      

      
         

      

       

    

    4. Method
      of Payment.
      Payment
      of the Exercise Price shall be by any of the methods of payment provided for
      under the Plan.

    

    5. Whole
      Shares.
      The
      Optionee may exercise the Option only for whole shares of Common
      Stock.

    

    6. Securities
      Law Compliance.
      Notwithstanding anything to the contrary contained herein, the Optionee may
      not
      exercise the Option unless the shares of Common Stock issuable upon such
      exercise are then registered under the Securities Act or, if such shares of
      Common Stock are not then so registered, the Company has determined that such
      exercise and issuance would be exempt from the registration requirements of
      the
      Securities Act. The exercise of the Option must also comply with other
      applicable laws and regulations governing such Option, and the Optionee may
      not
      exercise the Option if the Company determines that such exercise would not
      be in
      material compliance with such laws and regulations.

    

    7. Term.
      The
      Optionee may not exercise the Option before the commencement of its term on
      the
      Date of Grant or after its term expires. Subject to the provisions of the Plan
      and this Stock Option Agreement, the Optionee may exercise all or any part
      of
      the vested portion of the Option at any time prior to the earliest to occur
      of:

    

    (a) the
      date
      on which the Optionee ceases to be a Service Provider as a result of termination
      for “Cause” (as defined in the Plan);

    

    (b) three
      (3)
      months after the Optionee ceases to be a Service Provider for any reason other
      than death, disability, or termination for Cause;

    

    (c) twelve
      (12) months after the Optionee ceases to be a Service Provider due to
      disability;

    

    (d) twelve
      (12) months after the Optionee ceases to be a Service Provider due to death;
      or

    

    (e) the
      Expiration Date specified in the Grant Notice.

    

    Notwithstanding
      the foregoing, if the exercise of your Option within the applicable time periods
      set forth in this Section is prevented for any reason, your Option shall not
      expire before the date that is thirty (30) days after the date that you are
      notified by the Company that the Option is again exercisable, but in any event
      no later than the Expiration Date indicated in your Grant Notice; provided,
      however, that if the Grant Notice designates your Option as an Incentive Stock
      Option, and if any such extension causes the term of your Option to exceed
      the
      maximum term allowable for Incentive Stock Options, your Option shall cease
      to
      be treated as an Incentive Stock Option and instead shall be treated thereafter
      as a Nonstatutory Stock Option.

    

    8. Exercise
      Procedures.
      Subject
      to the other relevant terms and conditions of the Plan and this Stock Option
      Agreement, you may exercise the vested portion of your Option during its term
      by
      delivering a Notice of Exercise (in a form designated by the Company) together
      with the Exercise Price to the Secretary of the Company, or to such other person
      as the Company may designate, during regular business hours, together with
      such
      additional documents as the Company may then reasonably require. By exercising
      your Option you agree that, as a condition to any exercise of your Option,
      the
      Company may require you to enter into an arrangement providing for the payment
      by you to the Company of any tax withholding obligation of the Company arising
      by reason of (1) the exercise of your Option, or (2) other applicable
      events.

    

    
      
         

      

      
        20

        
          

        

      

      
         

      

       

    

    9. Limitations
      on Transfer of Options.
      Your
      Option is not transferable, except by will or by the laws of descent and
      distribution, and is exercisable during your life only by you. Notwithstanding
      the foregoing, by delivering written notice to the Company, in a form
      satisfactory to the Company, you may designate a third party who, in the event
      of your death, shall thereafter be entitled to exercise your
      Option.

    

    10. Option
      Not an Employment Contract.
      Your
      Option is not an employment or service contract, and nothing in your Option
      shall be deemed to create in any way whatsoever any obligation on your part
      to
      continue in the service of the Company or any Parent or Subsidiary in any
      capacity.

    

    11. Notices.
      Any
      notices provided for in your Option or the Plan shall be given in writing and
      shall be deemed given and effective upon the occurrence of (a) the signing
      by
      the recipient of an acknowledgement of receipt form accompanying delivery
      through the U.S. mail sent by certified mail, return receipt requested, (b)
      delivery to the recipient’s address by overnight delivery (e.g., FedEx, UPS, or
      DHL) or other commercial delivery service, or (c) delivery in person or by
      personal courier.

    

    12. Option
      Subject Plan Document.
      Your
      Option is subject to all of the provisions of the Plan, the provisions of which
      are hereby made a part of your Option, and is further subject to all
      interpretations, amendments, rules and regulations that may from time to time
      be
      promulgated and adopted pursuant to the Plan, to the extent not inconsistent
      with the terms of this Stock Option Agreement according to the standard set
      forth in the second paragraph of this Stock Option Agreement.

    

    
      
         

      

      
        21

        
          

        

      

      
         

      

    

    This
      Agreement may be executed in two or more counterparts, each of which shall
      be
      deemed an original and all of which shall constitute one document.

     

    
      	 	
              OSTEOLOGIX,
                INC. 

              

              

              By:
                _______________________________

              

              Name: _____________________________

              

              Title:
                ______________________________

            

    

     

    Optionee
      acknowledges and agrees that the vesting of shares pursuant to this Option
      Agreement is earned only by continuing service with the Company [and/or other
      specified performance measures] (not through the act of being hired, being
      granted or acquiring shares hereunder). Optionee further acknowledges and agrees
      that nothing in the Agreement, not in the Plan shall confer upon the Optionee
      any right to continue in the service of the Company, nor shall it interfere
      in
      any way with Optionee’s right or the Company’s right to terminate Optionee’s
      service at any time, with or without Cause.

    

    Optionee
      acknowledges receipt of a copy of the Plan and represents that he is familiar
      with the terms and provisions thereof. Optionee hereby accepts this Option
      subject to all of the terms and provisions hereof. Optionee has reviewed the
      Plan and this Option in their entirety, has had an opportunity to obtain the
      advice of counsel prior to executing this Option and fully understands all
      provisions of the Option. Optionee hereby agrees to accept as binding,
      conclusive and final all decisions or interpretations of the Administrator
      upon
      any questions arising under the Plan or this Option. Optionee further agrees
      to
      notify the Company upon any change in the residence address indicated
      below.

     

     

    
      	Dated:
              __________________	
              ____________________________________

              [OPTIONEE]

              

              Residence
                Address:

            

    

     

    
      
         

      

      
        22

        
          

        

      

      
         

      

    

    

    SAMPLE

    NOTICE
      OF EXERCISE

     

     

    
      	
              Osteologix,
                Inc.

              425
                Market Street

              Suite
                2230

              San
                Francisco, CA 94105

            	
              Date
                of Exercise:

            

    

     

    Ladies
      and Gentlemen:

    

    This
      constitutes notice under my stock Option that I elect to purchase the number
      of
      Shares for the price set forth below.

     

    
      	
              Type
                of Option (check one):

            	
              Incentive
                / Nonstatutory

            	 
	 	 	 
	
              Stock
                Option dated:

            	 	 
	 	 	 
	
              Number
                of Shares as

              to
                which Option is

              exercised:

            	 	 
	 	 	 
	
              Certificates
                to be

              issued
                in name of:

            	 	 
	 	 	 
	
              Total
                exercise price:

            	
              $

            	 
	 	 	 
	
              Cash
                payment delivered

              herewith:

            	
              $

            	 

    

    

    By
      this
      exercise, I agree (i) to execute or provide such additional documents as
      Osteologix, Inc. (the “Company”) may reasonably require pursuant to the terms of
      this Notice of Exercise and the Company’s Equity Incentive Plan (the “Plan”),
      and (ii) to provide for the payment by me to the Company (in the manner
      designated by the Company) of the Company’s withholding obligation, if any,
      relating to the exercise of this Option.

     

    

      	 	
              Very
                truly yours,

               

              
________________________________
Option
                Holder

            

    

    
       

      
         

      

      
         

        
          

        

      

      
         

      

    

    

    SAMPLE

    EQUITY
      INCENTIVE PLAN

    RESTRICTED
      STOCK AWARD AGREEMENT

    

    This
      Restricted Stock Award Agreement (“Agreement”) is made and entered into as of
      ________________ by and between Osteologix, Inc. (the “Company”) and
      _______________________ (“Service
      Provider”). Unless otherwise specified herein, all capitalized terms in this
      Agreement shall have the same meaning ascribed to them under the Company’s
      Equity Incentive Plan (“Plan”).

    

    WHEREAS,
      the Company has authorized the issuance of shares of the Company’s Common Stock
      to Service Provider, subject to the terms and conditions of this
      Agreement.

    

    NOW,
      THEREFORE, in consideration of the promises and the undertakings of the parties
      hereto contained in this Agreement, it is hereby agreed as follows:

    

    

    1. The
      Company hereby issues to Service Provider ________________ Shares
      on
      the terms and conditions as set forth in this Agreement.

    

    2. As
      consideration for the issuance of the Shares, the Service Provider agrees to
      remain in the service of the Company, on a full time basis, for period of
      ___________ years immediately following the date of this Agreement (the “Vesting
      Period”) and, during such period, to render faithful and efficient services to
      the Company, with such duties and responsibilities as the Company shall from
      time to time prescribe. Notwithstanding anything to the contrary contained
      in
      this Agreement, nothing in the Plan or this Agreement shall confer upon Service
      Provider any right to continue in the service of the Company or any Parent
      or
      Subsidiary, or shall interfere or restrict in any way the rights of the Company,
      Parent or Subsidiary, which rights are hereby expressly reserved, to discharge
      the Service Provider at any time for any reason whatsoever, with or without
      good
      cause. [This section should also specify any performance measures that may
      be
      applicable.]

    

    3. The
      certificate representing the shares shall be held by the Company in escrow
      (“Escrow”) upon the following terms and conditions:

    

    (a) Provided
      that Service Provider complies with the requirements of Paragraph 2 above during
      the entire Vesting Period, the Shares shall become fully vested at that time
      and
      the certificate representing the shares shall be released to Employee at the
      end
      of the Vesting Period.

    

    (b) Subject
      to the remaining terms and conditions of this Paragraph 3, in the event that
      the
      Service Provider does not comply with the requirements of Paragraph 2 above,
      the
      Service Provider shall not be entitled to receive any of the Shares, the
      certificate shall be cancelled, the Shares shall be retired by the Company
      and
      Service Provider shall have no further rights under this Agreement.

    

    
      
         

      

      
         

        
          

        

      

      
         

      

       

    

    (c) In
      the
      event that during the Vesting Period, the Service Provider’s service
      relationship with the Company is terminated as a result of death, permanent
      disability or by the Company without good cause, the Company shall release
      from
      the Escrow an amount of Shares in proportion to the amount of time that Service
      Provider provided full time service during the Escrow Term. For example, if
      Service Provider was employed for one year during the Escrow Term, then Service
      Provider shall receive one-fourth of the Shares held in the Escrow. The
      remaining Shares held in the Escrow shall be retired by the Company. For
      purposes of this Agreement “Cause” shall have the meaning ascribed to it in any
      written employment agreement between you and the Company, or any Parent or
      Subsidiary, or, if no such agreement exists or such agreement does not contain
      a
      definition of Cause, then “Cause” has the meaning given it in the
      Plan.

    

    (d) During
      the Escrow Term, in the event that the Company issues a cash dividend to its
      stockholders, the Service Provider shall be entitled to receive such cash
      dividends as it relates to the Shares held in the Escrow on the record date
      for
      such cash dividends.

    

    (e) During
      the Escrow Term, the Service Provider shall have the right to vote those Shares
      that are held in the Escrow.

    

    (f) If,
      during the Escrow Term, the Company’s common stock is changed into or exchanged
      for a different number or kind of shares of the Company or other securities
      of
      the Company or of another corporation, by reason of reorganization, merger,
      consolidation, recapitalization, reclassification, stock split up, stock
      dividend or combination of Shares, the Administrator shall make an appropriate
      and equitable adjustment in the number of the Shares then held in the Escrow
      as
      well as any appropriate substitution of a different security for such Shares.
      Any such adjustment made by the Company shall be final and binding upon the
      Service Provider.

    

    (g) During
      the Escrow Term, Employee may not transfer, pledge or hypothecate any of the
      Shares held in the Escrow.

    

    4. The
      following legend shall be placed on the certificate representing the
      Shares:

    

    THE
      SHARES REPRESENTED BY THIS CERTIFICATE ARE ISSUED TO, AND ARE SUBJECT TO THE
      TERMS AND CONDITIONS OF THE OSTEOLOGIX, INC. EQUITY INCENTIVE PLAN AND A CERTAIN
      RESTRICTED STOCK AGREEMENT, DATED ___________________ ENTERED INTO WITH THE
      REGISTERED HOLDER OF THIS CERTIFICATE.

    

    5. Upon
      the
      release of the Shares from the Escrow, the Service Provider agrees that any
      subsequent sale or transfer must be in compliance with all applicable federal
      and state securities laws, as determined in good faith by counsel for the
      Company.

    

    6. Upon
      the
      release of the Shares from the Escrow, the Service Provider shall pay to the
      Company in cash all applicable federal, state and local taxes or other amounts
      which the Company is required to withhold with respect to the issuance or
      vesting of the Shares.

    

    
      
         

      

      
        2

        
          

        

      

      
         

      

       

    

    7. This
      Agreement and the issuance of the Shares hereunder are made pursuant to the
      Plan
      and are in all respects limited by and subject to the express terms and
      provisions of the Plan, as it may be construed by the Committee.

    

    8. All
      notices to the Company shall be given in writing and addressed to the Secretary
      of the Company and shall be deemed given and effective upon the occurrence
      of
      (a) the signing by the recipient of an acknowledgement of receipt form
      accompanying delivery through the U.S. mail sent by certified mail, return
      receipt requested, (b) delivery to the recipient’s address by overnight delivery
      (e.g., FedEx, UPS, or DHL) or other commercial delivery service, or (c) delivery
      in person or by personal courier.

    

    IN
      WITNESS WHEREOF, the parties hereto have executed this Restricted Stock
      Agreement as of the day and year first above written.

    

     

    
      	 	
              OSTEOLOGIX,
                INC.

              

              

              By:
                _______________________________

              

              Title:
                ______________________________

              

              

              SERVICE
                PROVIDER

               

              __________________________________

            

    

     

    
      
         

      

      
        3This
      agreement dated March 23, 2007

     

    By
      and
      between

     

    The
      Seller

    1306538
      Alberta Ltd., 

    an
      Alberta corporation with its registered office in the City of Edmonton,
      Alberta

     

    And
      the
      Buyer

    Wescorp
      Energy Inc., 

    a
      Delaware registered corporation with offices in Cities of Calgary and Edmonton,
      Alberta

     

    Wherein
      the Seller acknowledges receipt of good and valuable consideration for the
      sale
      and transfer of the following goods (the “Sold Goods”):

     

    Four
      Hundred Seventy Thousand One Hundred Forty Three (470,143) shares of the common
      stock of Oilsands Quest Inc. (listed as “BQI-A” on the American Stock
      Exchange)

     

    and
      the
      Buyer acknowledges payment of good and valuable consideration for the purchase
      of the above noted goods. The consideration for the purchase of the above noted
      goods is the following (the “Purchase Consideration”):

     

    One
      hundred and seventy thousand (170,000) shares of the common stock of Synenco
      Energy Inc. (listed as “SYN” on the Toronto Stock
      Exchange)

     

    The
      calculation of the number of shares of the Sold Goods is as outlined in Schedule
      “A” attached. The Seller warrants ownership of title in and the right to sell
      the Sold Goods to the Buyer free and clear of all encumbrances. The Seller
      gives
      no warranties and makes no representations as to their appropriateness to any
      particular purpose of the Sold Goods.

     

    The
      Buyer
      warrants ownership of title in and the right to transfer the above-listed
      Purchase Consideration to the Seller free and clear of all encumbrances. The
      Buyer gives no warranties and makes no representations as to their
      appropriateness to any particular purpose of the goods.

     

    The
      Buyer
      acknowledges that the Sold Goods will be in the form of a stock certificate
      [certificate number ES176 in the amount of one million six hundred and forty-six
      thousand (1,646,000) shares] of the capital stock of Oilsands Quest Inc., and
      will remain in the name of the Seller for approximately ninety (90) days. Within
      that ninety (90) day period (or as soon as practical thereafter), the Seller
      will get a new certificate for the benefit of the Buyer for the exact number
      of
      shares as the Sold Goods. The Seller will execute a trust agreement giving
      full
      and absolute title to the Buyer for the amount of the Sold Goods. This stock
      certificate will be kept by the Buyer.

     

     

    
      
        (continued)

      

      
         

        
          

        

      

      
         

      

    

    The
      Buyer
      and Seller each acknowledge the opportunity to examine the goods and has
      examined the goods of their own accord. The Buyer and Seller each acknowledge
      that they are buying the respective goods “as is” and at their own risk. The
      Buyer and the Seller warrant that they will not make any claims against each
      other for representations and warranties, implied or express, or collateral
      agreements as to their appropriateness to any particular purpose.

     

    Given
      and
      received this ____ day of March, 2007. 

     

    
      	 	 	 	 
	/s/
              Ed Miezewaki	)	 	/s/ Gord Barnes
	
              

              [Witness’s
                signature]

            	
              )

            	 	
              
                

                per

              

            
	 	 	 	
              [Seller’s
                signature]

            
	 	 	 	1306538
              Alberta Ltd.
	 	 	 	 
	 	 	 	 
	 	 	 	 
	/s/ Blaine Miciak	
              )

            	 	/s/ Douglas Biles
	
              
[Witness’s
              signature]	
              )

            	 	
              

              per

            
	 	 	 	[Buyer’s
              signature]
	 	 	 	Wescorp Energy
              Inc.

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