Document:

QuickLinks
 -- Click here to rapidly navigate through this document

Exhibit 10.1  

	[Logo]	 	480 S. Holly Street. Suite 5

Denver, Colorado 80246

Main: 303-316-8577

Toll Free: 800-313-2234

Fax: 303-316-9004

www.v3s.com

 
 

EMPLOYMENT AGREEMENT BETWEEN
  VITACUBE SYSTEMS HOLDINGS, INC.
  AND SANFORD D. GREENBERG    
    

        This Employment Agreement ("the Agreement") between VitaCube Systems Holdings, Inc. and Sanford D. Greenberg ("Employee") entered effective as of the 1st
day of April 2004 ("Effective Date"), sets forth the terms, which shall govern the employment of Employee with VitaCube Systems Holdings, Inc. ("Employer" or the "Company"). 

        1.     EMPLOYMENT.

        (a)   Employer
agrees to employ Employee, and Employee agrees to be employed by Employer, as Chief Executive Officer and President until terminated as herein provided. The
Company's Board of Directors may amend employee's job title and description from time to time. Employee hereby accepts employment by the Company and agrees diligently and faithfully to perform his
duties pursuant to this Agreement on a full time basis. 

        (b)   Employee
will devote his full business hours and energies to the business of the Employer to accomplish all duties reasonably assigned, and will devote his best
efforts to advance the interests of the Employer. During the term of this Agreement, without the prior approval of the Company's Board, Employee shall not be engaged in any other business activity,
whether or not pursued for gain, profit or other pecuniary advantage, which may interfere with his duties under this Agreement, except that Employee shall be entitled to continue acting as a
stockbroker so long as such activity does not materially interfere with his employment by the Company. 

        (c)   Employee's
duties shall include: management of operations of the Company, sales, marketing, and strategic planning for the Company, supervision and direction of
employees and other corporate officers, and all other duties necessary to perform the foregoing responsibilities or assigned to Employee by the Board. Employee will have the authority to perform and
execute the necessary actions to implement the operational initiatives set by the Employer acting through its Board of Directors. 

        (d)   EMPLOYEE
ACKNOWLEDGES AND THE PARTIES AGREE THAT EMPLOYEE IS ONE OF THE COMPANY'S EXECUTIVE AND MANAGEMENT PERSONNEL AND THAT THE CONFIDENTIALITY AND
NON-SOLICITATION COVENANTS AND PROVISIONS CONTAINED IN THIS AGREEMENT ARE FULLY ENFORCEABLE AGAINST HIM. 

        2.     COMPENSATION.

        (a)   Employee
will receive as compensation for all responsibilities a base salary ("Base Salary") of $150,000 per year, payable according to the salary schedule of Employer.
In addition to the Base Salary and the Plan Bonus described below, Employee may receive a bonus in such amount as the Board of Directors in its sole discretion shall determine. 

        (b)   Employee
also shall receive options (the "Options") to purchase, at a price of $.60 per share, an aggregate of 4,000,000 shares of Employer's common stock. The terms of
the Options are set out in the form of Option Agreement attached hereto.

 

        3.     DEDUCTIONS. To the extent required by law, all compensation the Company pays Employee is subject to federal, state, and
municipal withholding requirements, any applicable occupational privilege tax and any court ordered deductions such as garnishments. Compensation may also be reduced by deductions the Employee
authorizes for insurance, 401(k) contributions, and other similar purposes. 

        The
Employee's final paycheck will be reduced by the amount of any lawful charge or indebtedness the Employee owes the Company. 

        4.     BONUSES. Employer intends to initiate an incentive executive bonus plan (the "Plan Bonus") for all executives of the
Company. Employee will be eligible for inclusion for the Plan Bonus if and when it is instituted by the Company, but only on the same basis as other executives may participate and as approved by the
compensation committee of the Board of Directors, or such equivalent Board body, on this basis. 

        5.     BENEFITS. Employee will be entitled to participate in any and all benefit plans, including health insurance, provided to
other senior executive employees. In addition: 

        a.     Employer
shall provide Employee with an auto allowance of $1500 per month. 

        b.     Employee
shall be entitled to eight (8) weeks of paid vacation each year, with such vacation to be scheduled and taken in accordance with the Company's standard
vacation policies applicable to such personnel. In addition, Employee shall be entitled to such sick leave and holidays at full pay in accordance with the Company's policies established and in effect
from time to time. 

Employee
will be entitled to the protection of any director and officer liability insurance that the Company in its sole discretion may purchase. The Company is not required to carry such insurance. 

        6.     EXPENSES. Employee shall be promptly reimbursed for all expenses reasonably and necessarily incurred by him in the
performance of his duties under this Agreement upon presentation of proof of such expenses in a form acceptable to the Company. In addition, the Company shall pay the expenses reasonably incurred by
Employee in connection with a cellular telephone and a home high-speed digital telephone/internet connection. 

        7.     CONFIDENTIAL INFORMATION.

        (a)   Employee
recognizes and acknowledges that he will have access to, become acquainted with, and obtain certain confidential and proprietary information of the Employer,
and that such information constitutes valuable, special and unique property of the Employer. Employee acknowledges and agrees that such information shall include, but is not limited to, trade secrets,
know-how, formulas, ingredients, inventions, techniques, processes, computer programs, schematics, data, designs, financial information, studies, supply contracts, formulations, strategic
and marketing plans and data, sales and marketing plans, nutritional and fitness plans, and vendor and customer lists. Employee will not disclose any of such confidential, proprietary or trade secret
information except as is necessary to perform his duties for the Employer. Employee further agrees that he will not at any time use any of such confidential information in competing with Employer.
Employee further agrees that he shall maintain, at all times, the Employer's confidential, proprietary and trade secret information in a confidential manner and protect it from disclosure to any
person who is not subject to a Confidentiality Agreement with the Employer. 

        (b)   In
the event of a breach or threatened breach by Employee of this Section, or Sections 8 and 9 below, Employee agrees that irreparable harm would come to Employer
under such circumstances, and that, in such event, Employer's remedy at law for such a breach or threatened breach would be inadequate and that Employer shall be entitled at its election, to
injunctive relief, without the necessity of posting bond therefore, against such breach or threatened breach and to

 
specific performance of this Agreement, in addition to any other remedies at law or in equity available to Employer for such breach or threatened breach, including the recovery of damages, court
costs, and attorneys' fees. 

        (c)   The
restrictions and obligations in the preceding subparagraph (a) shall survive in perpetuity the termination of this Agreement and the termination of Employee's
employment by Company. 

        8.     OWNERSHIP AND ASSIGNMENT OF PROPRIETARY INFORMATION. Upon termination of Employee's employment with Employer or at
Employer's request, Employee shall promptly deliver to Employer all documents, material and property in Employee's possession or control (such as drawings, notebooks, reports, sketches, records,
fitness and nutritional plans, computer programs, and the like) whether delivered to Employee or made by Employee in the performance of services for Employer, relating in any way to Employee's
employment and the business activities of Employer, and containing any data or information whatsoever, whether or not it is confidential. Employee further agrees that Employer is the sole owner of any
formulas, information technology, processes, or other property rights created by Employee in the performance of services for Employer, including but not limited to, the right to use, sell, license or
otherwise transfer to exploit the formulas, information technology, processes and other property rights and the right to make such changes in them and the uses thereof as Employer may from time to
time determine. Employee hereby assigns to Employer, without further consideration, Employee's entire right, title, and interest worldwide, free and clear of all encumbrances, in and to all material,
designs, and other property created for Employer by Employee pursuant to his employment during the term of this Agreement, all of which property shall be the sole property of Employer. Employee also
agrees to cooperate with Employer both during and after the term of performance of this Agreement, in evidencing, maintaining, defending, obtaining and enforcing patents, trademarks, copyrights and
other protection of Employer's right to formulas, processes and other property rights created pursuant to this Agreement. In the event Employer is unable for any reason to secure Employee's signature
to any lawful and necessary documents required to apply for or execute any patent, trademark, copyright or other applications with respect to any property for which such an application may be
presented (including improvements, renewals, extensions, continuations, divisions or continuations in part thereof), Employee hereby irrevocably designates and appoints Employer and its duly
authorized officers and agents as his agent and attorney-in-fact to act for and in his behalf and instead of Employee, to execute and file such application and to do all
otherwise lawfully permitted acts to further the prosecution and issuance of patents, trademarks, copyrights, and other rights with the same legal force and effect as if executed by Employee. 

        9.     RESTRICTIVE COVENANTS.

        a.     Employee
agrees that during the Non-Competitive Period, as defined below, Employee shall not, directly or indirectly, as owner, partner, joint-venturer,
stockholder, employee, broker, agent, principal, trustee, corporate officer, director, licensor, creditor, or in any capacity whatsoever, engage in, become financially interested in, be employed by,
render any consultation or business advice with respect to, or have any connection with any business engaged in manufacturing, selling, marketing, developing, packaging, or distributing of vitamins,
dietary supplements or nutritional supplements or any other product being manufactured, sold, developed, marketed or distributed by Employer, in any geographic area where, at the time of the
termination of his employment hereunder, the business of the Employer was being conducted in any material way. The term "Non-Competitive Period" shall mean the period commencing on the
date of his termination or resignation and ending on the later of the date which is two (2) years after the date of termination or one (1) year after final payment under any pay out
provisions on termination.

 

        b.     During
the Non-Competitive Period, Employee will not knowingly (i) initiate contact to hire, or attempt to hire, any Employee of the Employer or of any
of the Employer's affiliated or subsidiary companies (if any); (ii) assist in such hiring by any other person; or (iii) encourage any such Employee to terminate his/her employment with
the Employer or any such subsidiaries or affiliated entities. 

        c.     If
any portion of the restrictions set forth in this Section should for any reason whatsoever, be declared invalid by a court of competent jurisdiction, the
validity or enforceability of the remainder of such restrictions shall not be adversely affected. 

        d.     Employee
agrees that the territorial and time limitations set forth in this Section are reasonable and properly required for the adequate protection of the
business of the Employer. In the event any such territorial or time limitation is deemed to be unreasonable by a court of competent jurisdiction, Employee agrees to the reduction of the territorial or
time limitation to the areas or period which such court shall have deemed reasonable. The restrictions in this section shall not apply if Employee is terminated without "just cause" as herein
defined. 

        10.   TERMINATION. The employment relationship established herein is "at will" and shall continue so until terminated by thirty
(30) days written advance notice to the Employer or the Employee, unless the Employee is terminated by the Employer for "just cause." The provisions of Sections 7 through 11, 13, 15, and
17 shall remain in full force and effect following termination of Employee's employment with Employer. 

        (a)   For
Cause. If the Employee is terminated for "just cause," the Employer will give the Employee one (1) business day written advance notice. For all purposes under
this Agreement, "just cause" shall mean (i) willful failure or unjustifiable neglect by the Employee to substantially perform his duties hereunder after written notice to Employee and
subsequent failure to perform within five (5) business days, (ii) a willful act by the Employee which constitutes gross misconduct, (iii) a willful breach by the Employee
of a material provision of this Agreement, or (iv) a material and willful violation of a federal or state law or regulation applicable to the business of the Company or its status as a public
company. If Employee is terminated for just cause, Employee will not receive any salary or bonuses not earned as of the date of termination and all unexercised Options under the Option Agreement will
terminate as of the date of termination. 

        (b)   Without
Cause. In the event that the Employee is terminated without just cause, Employee is entitled to receive two (2) years Base Salary payable over twenty four
(24) equal monthly installments, and all of Employees un-vested options will vest immediately, and Employee shall have the right to exercise all vested options pursuant to the
Option Agreement. Employee also is entitled to all salary or bonuses earned as of the date of termination. 

        (c)   Resignation.
In the event that Employee terminates his employment, Employee will not receive any salary or bonuses not earned as of the date of resignation. All Options
under the Option Agreement that have not vested as of the date of Employee's resignation will terminate. 

        11.   SEVERABILITY. The provisions of this Agreement are severable. The invalidity of any provision shall not affect the
validity of any other provision. A Court or other tribunal is required upon a finding of invalidity of any provision of Section 7 to enforce the remainder of the invalid Sections or
interpret the language to fully comply and satisfy the parties' interest. 

        12.   WAIVER. No waiver of any of the provisions of this Agreement shall be deemed or constitute, a waiver of any other
provision, whether or not similar, nor shall said waiver constitute a continuing waiver. No waiver shall be binding unless executed in writing by the party making the waiver. 

        13.   NOTICES. All notices required or permitted to be given hereunder shall be in writing and shall be deemed effective when
personally delivered or, if mailed, when deposited in the U.S. Mail,

 
postage prepaid, registered or certified, return receipt requested. Unless changed by written notice given to a party by the other, such notices shall be given to the Employer at the following
address: 

VitaCube
Systems Holdings, Inc.

480 South Holly Street, Suite 5

Denver, Colorado 80246

Attention: Board of Directors 

And
such notices shall be given to Employee at the following address: 

Sanford
D. Greenberg

[withheld] 

        14.   ASSIGNABILITY. The duties and obligations of Employee under this Agreement are personal unto him and may not be assigned
or otherwise transferred, in whole or in part, by Employee, but rights of Employee under this Agreement shall inure to the benefit of Employee. Employer may assign this Agreement, or any benefit, duty
or obligation thereof hereunder. 

        15.   APPLICABLE LAW. The terms and conditions of this Agreement shall be construed under, governed by and enforced in
accordance with the laws of the State of Colorado. 

        16.   ENTIRE AGREEMENT; AMENDMENT. This Agreement constitutes the entire Agreement between the parties and supersedes any and
all prior agreements, either oral or written, between the parties hereto with respect thereto. Any modifications to this Agreement must be made in writing and signed by both parties. 

        17.   ARBITRATION. Any dispute relating to this Agreement, or to the Breach of this Agreement, except such as may concern
Sections 7, 8, and 9, arising between the Employer and Employee, shall be settled by arbitration in accordance with the commercial arbitration rules of the American Arbitration Association
("AAA"), which arbitration may be initiated by any party hereto by written notice to the other of such party's desire to arbitrate the dispute. The arbitration proceedings shall take place in Denver,
Colorado, and shall be administered by AAA. Colorado's Uniform Arbitration Act of 1975, C.R.S. §13-22-201 et seq. as amended, shall govern any arbitration under
this Agreement. Employer's right to equitable relief set forth in Sections 7, 8, and 9 may be brought and enforced in any court of competent jurisdiction. Employee agrees and consents to the
District Court of the City and County of Denver, State of Colorado, having jurisdiction over any such dispute.

 

        IN
WITNESS WHEREOF, the parties have executed this Agreement effective as of the day and year written above. 

	

 	
 	
EMPLOYER:
	

 	
 	

VITACUBE SYSTEMS HOLDINGS, INC.
	
 	
 	

By:	
 	

 Authorized officer
	

 	
 	

Date:	
 	

 
	 	 	 	 	

	

 	
 	
EMPLOYEE:
	

 	
 	

 Sanford D. Greenberg
	

 	
 	

Date:	
 	

 
	 	 	 	 	

QuickLinks

EMPLOYMENT AGREEMENT BETWEEN VITACUBE SYSTEMS HOLDINGS, INC. AND SANFORD D. GREENBERGQuickLinks
 -- Click here to rapidly navigate through this document

Exhibit 10.2  

THE SECURITIES REPRESENTED BY THIS AGREEMENT HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "ACT"), OR APPLICABLE STATE SECURITIES ACTS (THE "STATE
ACTS"), AND MAY NOT BE SOLD, PLEDGED, HYPOTHECATED, DONATED, OR OTHERWISE TRANSFERRED (WHETHER OR NOT FOR CONSIDERATION) BY THE HOLDER, EXCEPT UPON THE ISSUANCE TO VITACUBE SYSTEMS
HOLDINGS, INC. (THE "CORPORATION") OF A FAVORABLE OPINION OF THE HOLDER'S COUNSEL, OR SUBMISSION TO THE CORPORATION OF SUCH OTHER EVIDENCE AS MAY BE REASONABLY SATISFACTORY TO COUNSEL
FOR THE CORPORATION, TO THE EFFECT THAT ANY SUCH TRANSFER SHALL NOT BE IN VIOLATION OF THE ACT AND THE STATE ACTS.

 
 

STOCK OPTION AGREEMENT    
    

        This Stock Option Agreement is made effective as of the 1st day of April, 2004 between VITACUBE SYSTEMS
HOLDINGS, INC., a Nevada corporation (the "Corporation") and Sanford D. Greenberg ("Optionee"). 

BACKGROUND:  

        A.    Optionee
is employed by the Corporation as its president and chief executive officer. 

        B.    Pursuant
to the terms of Optionee's employment agreement with the Corporation, a copy of which is attached to this Agreement, the Corporation agreed to issue an option to
purchase common stock of the Corporation to Optionee. 

        IN
CONSIDERATION of Optionee's employment with the Corporation and the mutual promises and undertakings described below, the parties agree as follows: 

        1.     Grant of Option. The Corporation hereby grants to Optionee an option ("Option") to acquire from
the Corporation, at an initial purchase price of $.60 per share, 4 million fully paid and nonassessable shares of common stock, par value $.001 per share (the "Common Stock") of the
Corporation. The Option shall vest and be exercisable as provided below. The purchase price per share of the Common Stock, as adjusted from time to time as provided herein, is referred to as the
"Purchase Price." 

        2.     Exercise of Option.

        2.1.  Provided
Optionee is still employed with the Corporation as of the vesting date set forth below, this Option will vest and be exercisable in increments as follows: 

	Vesting Date
 
	 	Number of Shares of Common Stock Vested

	January 1, 2005	 	1,000,000
	January 1, 2006	 	1,000,000
	January 1, 2007	 	1,000,000
	January 1, 2008	 	1,000,000

Each
increment of Common Stock that has vested hereinafter referred to as the "Vested Options." Except as provided in Section 2.2, upon termination of Optionee's employment with the
Corporation, this Option will be exercisable only with respect to Vested Options as of the date of termination of employment. Except as provided in Section 2.3, Vested Options will be
exercisable for a period of five years following their vesting date. The Option will terminate and cease to be outstanding for any Vested Options for which the Option has not been exercised on
the 5-year anniversary of the respective vesting dates unless earlier terminated as provided in Section 2.3.

 

        2.2.  If
the Corporation terminates Optionee's employment with the Corporation without "just cause" as defined in the Employment Agreement, all unvested options will
immediately vest and become exercisable. Options that vest under this section will be exercisable for a period of five years following the date of Optionee's termination of employment.
The Option will terminate and cease to be outstanding for any Options which vest under this Section 2.2 on the 5-year anniversary of Optionee's termination of employment 

        2.3.  If
the Corporation terminates Optionee's employment with the Corporation for "just cause" as defined in the Employment Agreement, this Option will immediately terminate
and cease to be outstanding for any Common Shares that have not been exercised as of the date of Optionee's termination of employment. 

        3.     Manner of Exercise.

        3.1.  The
Optionee may exercise this Option, in whole or in part, upon surrender of this Option, with the exercise form annexed hereto duly executed, at the office of the
Corporation, 480 S. Holly Street, Denver, Colorado 80246, or such other office of which the Corporation shall notify the Optionee in writing, together with a certified or bank cashier's check payable
to the order of the Corporation in the amount of the Purchase Price times the number of shares of Common Stock being purchased. 

        3.2.  As
soon as practical after the exercise date and in compliance by the Optionee with any request pursuant to Section 6.2 of this Agreement, the Corporation will
issue to or on behalf of the Optionee a certificate representing the shares of Common Stock purchased pursuant to this Option. 

        3.3.  In
no event shall any fractional share of Common Stock of the Corporation be issued upon any exercise of this Option. If, upon exercise of this Option as an entirety,
the Optionee would, except as provided in this section, be entitled to receive a fractional share of Common Stock, then the Corporation shall issue the next higher number of full shares of Common
Stock, issuing a full share with respect to such fractional share. 

        4.     Reservation of Shares. The Corporation covenants that it will at all times reserve and keep
available a number of its authorized shares of Common Stock, free from all preemptive rights, which will be sufficient to permit the exercise of this Option. The Corporation further covenants that
such shares as may be issued pursuant to the exercise of this Option will, upon issuance, be duly and validly issued, fully paid and nonassessable and free from all taxes, liens, and charges. 

        5.     Adjustments to Purchase Price.

        5.1.  If
the Corporation shall at any time prior to the expiration of this Option subdivide its outstanding shares of Common Stock, by split-up or otherwise, or
combine its outstanding shares of Common Stock, or issue additional shares of Common Stock in payment of a stock dividend in respect of its shares of Common Stock, the Purchase Price then applicable
to shares covered by this Option shall forthwith be proportionately decreased in the case of a subdivision or stock dividend, or proportionately increased in the case of a combination. 

        5.2.  In
the case of any reclassification, capital reorganization, or change of the outstanding shares of Common Stock of the Corporation (other than as a result of a
subdivision, combination or stock dividend), or in the case of any consolidation of the Corporation with, or merger of the Corporation into, another corporation or other business organization (other
than a consolidation or merger in which the Corporation is the continuing corporation and which does not result in any reclassification or change of the outstanding shares of Common Stock of the
Corporation), or in the case of any sale or conveyance to another corporation or other business organization of the property of the Corporation as an entirety or substantially as an entirety, at any
time prior to the

 
expiration of this Option, then, as a condition of such reclassification, reorganization, change, consolidation, merger, sale or conveyance, lawful provision shall be made, and duly executed documents
evidencing the same from the Corporation or its successor shall be delivered to the Optionee of this Option, so that the Optionee shall have the right prior to the expiration of this Option to
purchase, at a total price not to exceed that payable upon the exercise of the unexercised portion of this Option, the kind and amount of shares of stock and other securities and property receivable
upon such reclassification, reorganization, change, consolidation, merger, sale or conveyance, by an Optionee of the number of shares of Common Stock of the Corporation which might have been purchased
by the Optionee immediately prior to such reclassification, reorganization, change, consolidation, merger, sale, or conveyance, and in any such case appropriate provisions shall be made with respect
to the rights and interest of the Optionee to the end that the provisions hereof (including, without limitation, provisions for the adjustment of the Purchase Price and of the number of shares
purchasable upon exercise of this Option) shall thereafter be applicable in relation to any shares of stock and other securities and property thereafter deliverable upon exercise hereof. 

        5.3.  Whenever
the Purchase Price is adjusted, as herein provided, the Corporation shall promptly deliver to the Optionee a certificate setting forth the Purchase Price after
such adjustment and setting forth a brief statement of the facts requiring such adjustment. 

        5.4.  If
at any time prior to the expiration or exercise of this Option, the Corporation shall pay any dividend or make any distribution upon its shares of Common Stock or
shall make any subdivision or combination of, or other change in its shares of Common Stock, the Corporation shall cause notice thereof to be mailed, first class, postage prepaid, to the Optionee at
least ten full business days prior to the record date set for determining the holders of Common Stock who shall participate in such dividend, distribution, subdivision, combination or other change.
Such notice shall also specify the record date as of which holders of Common Stock who shall participate in such dividend or distribution are to be determined. Failure to give such notice, or any
defect therein, shall not affect the legality or validity of any dividend or distribution. 

        6.     Restricted Shares.

        6.1.  Neither
this Option nor the shares of Common Stock issuable upon exercise of this Option have been registered under the Securities Act of 1933, as amended (the "Act"),
or any state acts. Optionee
understands and agrees that any shares of Common Stock purchased by Optionee pursuant to this Option will be "restricted shares", as such term is defined under the Act, and that such shares must be
held indefinitely unless and until subsequently registered under the Act and the state acts, unless an exemption from such registration is available. 

        6.2.  Unless
a current registration statement under the Securities Act, shall be in effect with respect to the securities to be issued upon exercise of this Option, the
Optionee, by accepting this Option, covenants and agrees that, at the time of exercise hereof, the Corporation may require the Optionee to make such representations, and may place such legends on
certificates representing the shares of Common Stock issuable upon exercise of this Option, as may be reasonably required in the opinion of counsel to the Corporation to permit such shares of Common
Stock to be issued without such registration. 

        7.     Transferability of Option. During the lifetime of the Optionee, the Option is exercisable only by the Optionee and is not
assignable or transferable. If the Optionee dies prior to the expiration of this Option, the Option to the extent exercisable on the date of Optionee's death may be exercised by the personal
representative of the Optionee's estate, or by the persons to whom the Option is transferred pursuant to the Optionee's will or in accordance with the laws of descent and distribution.

 

        8.     No Employment Rights. Nothing in this Agreement will confer upon Optionee any right to continue in
the employment of the Corporation for any period or specific duration or interfere with or otherwise restrict in any way the rights of the Corporation or of the Optionee, to terminate his employment
as provided in the Employment Agreement. 

        9.     Compliance with Laws and Regulations.

        9.1.  The
exercise of this Option and the issuance of the shares of Common Stock issuable upon exercise of this Option shall be subject to compliance by the Corporation and
Optionee with all applicable requirements of law. 

        9.2.  The
inability of the Corporation to obtain approval from any regulatory body having authority deemed by the Corporation to be necessary to the lawful issuance and sale
of any shares of Common Stock issuable upon exercise of this Option shall relieve the Corporation of any liability with respect to the non-issuance or sale of the shares of Common Stock
issuable upon exercise of this Option as to which such approval shall not have been obtained. The Corporation, however, shall use its best efforts to obtain all such approvals. 

        9.3.  The
Corporation's obligation to deliver shares of common stock pursuant to the exercise of this Option is subject to the Optionee's payment to the Corporation in cash
of the amount necessary to satisfy all applicable federal, state, and local income and employment tax withholding requirements. 

        10.   Representations and Warranties by Optionee. Optionee represents and warrants to Corporation as
follows: 

        10.1. This
Option is being acquired by Optionee for investment only, for Optionee's own account, and not with a view to, for offer for sale, or for sale in connection with
the distribution or transfer thereof. 

        10.2. This
Option is not being purchased for subdivision or fractionalization thereof; Optionee has no contract, undertaking, agreement or arrangement with any person or
entity to sell, hypothecate, pledge, donate, or otherwise transfer (with or without consideration) to any such person or entity the Option; and Optionee has no present plans or intentions to enter
into any such contract, undertaking, agreement or arrangement. 

        11.   Governing Law. THIS AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF
THE STATE OF COLORADO WITHOUT REFERENCE TO ANY CONFLICTS OF LAW PROVISION THAT WOULD REQUIRE APPLICATION OF THE LAW OF ANY OTHER JURISDICTION. VENUE FOR ANY PROCEEDING BROUGHT TO ENFORCE THE TERMS OF
THIS AGREEMENT SHALL BE PROPER ONLY IN THE STATE OR FEDERAL COURTS LOCATED IN THE CITY AND COUNTY OF DENVER, STATE OF COLORADO. 

        12.   Severability. If any provision of this Option is determined to be invalid or unenforceable for
any reason, the remainder of the Option shall remain in full force and effect. 

        13.   Succession. This Option shall be binding upon the parties, their respective heirs, successors,
assigns, and legal representatives.

 

        IN
WITNESS WHEREOF, the parties have executed this Option effective as of the day and year first above written. 

	
VITACUBE SYSTEMS HOLDINGS, INC.	
 	

 
	
By:	
 	

 Mary Pat O'Halloran,

Chief Financial Officer	
 	

 
	

Date:	
 	

 	
 	

 
	 	 	
	 	 
	
OPTIONEE	
 	

 
	

 Sanford D. Greenberg	
 	

 
	

Date:	
 	

 	
 	

 
	 	 	
	 	 
	

Address: [withheld]	
 	

 
	

Social Security Number: [withheld]	
 	

 

 

Form of Exercise  

Date:                        

	To:
	VitaCube Systems Holdings, Inc.

480 S. Holly Street

Denver, CO 80246  

        The undersigned hereby subscribes for            shares of Common Stock of VitaCube Systems Holdings, Inc. covered by
this Option and hereby makes
payment of $                        in payment of the purchase price therefor. 

        I
understand that the Corporation's obligation to deliver the Common Stock is subject to all applicable federal and state securities laws. I agree to execute such additional documents as
the Corporation may reasonably request with respect to my acquisition of the Common Stock. 

        The
certificate(s) for such shares should be issued in the name of the undersigned or as otherwise indicated below: 

	 	 	
 Signature
	

 	
 	

 Print Name
	

 	
 	

 Name for Registration, if different
	

 	
 	

 Mailing Address
	

 	
 	

	

 	
 	

 Social Security Number or Employee Identification Number

QuickLinks

STOCK OPTION AGREEMENT

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00064-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00064-of-00352.parquet"}]]