Document:

EXHIBIT 10.15

THIS WARRANT AND THE COMMON STOCK ISSUABLE UPON EXERCISE HEREOF HAVE NOT BEEN
REGISTERED UNDER EITHER THE SECURITIES ACT OF 1933 OR APPLICABLE STATE
SECURITIES LAWS AND MAY NOT BE SOLD, TRANSFERRED, ASSIGNED, OFFERED, PLEDGED OR
OTHERWISE DISTRIBUTED FOR VALUE UNLESS THERE IS AN EFFECTIVE REGISTRATION
STATEMENT UNDER SUCH ACT AND SUCH LAWS COVERING SUCH SECURITIES, OR THE COMPANY
RECEIVES AN OPINION OF COUNSEL REASONABLY ACCEPTABLE TO THE COMPANY STATING THAT
SUCH SALE, TRANSFER, ASSIGNMENT, OFFER, PLEDGE OR OTHER DISTRIBUTION FOR VALUE
IS EXEMPT FROM THE REGISTRATION AND PROSPECTUS DELIVERY REQUIREMENTS OF SUCH ACT
AND SUCH LAWS.

                          COMMON STOCK PURCHASE WARRANT
                          -----------------------------

                    To Purchase 20,000 Shares of Common Stock
                                       of
                        SCANNER TECHNOLOGIES CORPORATION

         THIS CERTIFIES THAT, for good and valuable consideration, Michael A.
Thorsland, or her registered successors or assigns, is entitled to subscribe for
and purchase from Scanner Technologies Corporation, a New Mexico corporation
(the "Company"), at any time up to and including December 27, 2009, twenty
thousand (20,000) fully paid and nonassessable shares of Common Stock of the
Company at a price of $2.94 per share (the "Warrant Exercise Price"), subject to
the antidilution provisions of this Warrant. The shares of Common Stock that may
be acquired upon exercise of this Warrant are referred to herein as the "Warrant
Shares." As used herein, the term "Common Stock" means and includes the
Company's presently authorized common stock, no par value, and shall also
include any capital stock of any class of the Company hereafter authorized which
shall not be limited to a fixed sum or percentage in respect of the rights of
the holders thereof to participate in dividends or in the distribution of assets
upon the voluntary or involuntary liquidation, dissolution, or winding up of the
Company.

         This Warrant is subject to the following provisions, terms and
conditions:

         1.       Exercise; Transferability.

         (a)      The rights represented by this Warrant may be exercised by the
                  holder hereof, in whole or in part (but not as to a fractional
                  share of Common Stock), by written notice of exercise (in the
                  form attached hereto) delivered to the Company at the
                  principal office of the Company prior to the expiration of
                  this Warrant and accompanied or preceded by the surrender of
                  this Warrant along with a check in payment of the Warrant
                  Exercise Price for such shares.

         (b)      This Warrant may not be sold, transferred, assigned,
                  hypothecated or divided into two or more Warrants of smaller
                  denominations, nor may any Warrant Shares issued pursuant to
                  exercise of this Warrant be transferred, except as provided in
                  Section 7 hereof.

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         2.       Exchange and Replacement. Subject to Sections l and 7 hereof,
this Warrant is exchangeable upon the surrender hereof by the holder to the
Company at its office for new Warrants of like tenor and date representing in
the aggregate the right to purchase the number of Warrant Shares purchasable
hereunder, each of such new Warrants to represent the right to purchase such
number of Warrant Shares (not to exceed the aggregate total number purchasable
hereunder) as shall be designated by the holder at the time of such surrender.
Upon receipt by the Company of evidence reasonably satisfactory to it of the
loss, theft, destruction, or mutilation of this Warrant, and, in case of loss,
theft or destruction, of indemnity or security reasonably satisfactory to it,
and upon surrender and cancellation of this Warrant, if mutilated, the Company
will make and deliver a new Warrant of like tenor, in lieu of this Warrant. This
Warrant shall be promptly canceled by the Company upon the surrender hereof in
connection with any exchange or replacement. The Company shall pay all expenses,
taxes (other than stock transfer taxes), and other charges payable in connection
with the preparation, execution, and delivery of Warrants pursuant to this
Section 2.

         3.       Issuance of the Warrant Shares.

         (a)      The Company agrees that the Warrant Shares shall be and are
                  deemed to be issued to the holder as of the close of business
                  on the date on which this Warrant shall have been surrendered
                  and the payment made for such Warrant Shares as aforesaid.
                  Subject to the provisions of the next section, certificates
                  for the Warrant Shares so purchased shall be delivered to the
                  holder within a reasonable time, not exceeding fifteen (15)
                  days after the rights represented by this Warrant shall have
                  been so exercised, and, unless this Warrant has expired, a new
                  Warrant representing the right to purchase the number of
                  Warrant Shares, if any, with respect to which this Warrant
                  shall not then have been exercised shall also be delivered to
                  the holder within such time.

         (b)      Notwithstanding the foregoing, however, the Company shall not
                  be required to deliver any certificate for Warrant Shares upon
                  exercise of this Warrant except in accordance with exemptions
                  from the applicable securities registration requirements or
                  registrations under applicable securities laws. Nothing
                  herein, however, shall obligate the Company to effect
                  registrations under federal or state securities laws. If
                  registrations are not in effect and if exemptions are not
                  available when the holder seeks to exercise the Warrant, the
                  Warrant exercise period will be extended, if need be, to
                  prevent the Warrant from expiring, until such time as either
                  registrations become effective or exemptions are available,
                  and the Warrant shall then remain exercisable for a period of
                  at least 30 calendar days from the date the Company delivers
                  to the holder written notice of the availability of such
                  registrations or exemptions. The holder agrees to execute such
                  documents and make such representations, warranties, and
                  agreements as may be required solely to comply with the
                  exemptions relied upon by the Company, or the registrations
                  made, for the issuance of the Warrant Shares.

         4.       Covenants of the Company. The Company covenants and agrees
that all Warrant Shares will, upon issuance, be duly authorized and issued,
fully paid, nonassessable, and free from all taxes, liens, and charges with
respect to the issue thereof. The Company further covenants and agrees that
during the period within which the rights represented by this Warrant may be
exercised, the Company will at all times have authorized and reserved for the
purpose of issue or transfer upon exercise of the subscription rights evidenced
by this Warrant a sufficient number of shares of Common Stock to provide for the
exercise of the rights represented by this Warrant.

                                       2
<PAGE>

         5.       Antidilution Adjustments. The provisions of this Warrant are
subject to adjustment as provided in this Section 5.

         (a)      The Warrant Exercise Price shall be adjusted from time to time
                  such that in case the Company shall hereafter:

                  (i)      pay any dividends on any class of stock of the
                           Company payable in Common Stock or securities
                           convertible into Common Stock;

                  (ii)     subdivide its then outstanding shares of Common Stock
                           into a greater number of shares; or

                  (iii)    combine outstanding shares of Common Stock, by
                           reclassification or otherwise;

                  then, in any such event, the Warrant Exercise Price in effect
                  immediately prior to such event shall (until adjusted again
                  pursuant hereto) be adjusted immediately after such event to a
                  price (calculated to the nearest full cent) determined by
                  dividing (a) the number of shares of Common Stock outstanding
                  immediately prior to such event, multiplied by the then
                  existing Warrant Exercise Price, by (b) the total number of
                  shares of Common Stock outstanding immediately after such
                  event (including the maximum number of shares of Common Stock
                  issuable in respect of any securities convertible into Common
                  Stock), and the resulting quotient shall be the adjusted
                  Warrant Exercise Price per share. An adjustment made pursuant
                  to this subsection shall become effective immediately after
                  the record date in the case of a dividend or distribution and
                  shall become effective immediately after the effective date in
                  the case of a subdivision, combination or reclassification.
                  If, as a result of an adjustment made pursuant to this
                  subsection, the holder of any Warrant thereafter surrendered
                  for exercise shall become entitled to receive shares of two or
                  more classes of capital stock or shares of Common Stock and
                  other capital stock of the Company, the Board of Directors
                  (whose determination shall be conclusive) shall determine the
                  allocation of the adjusted Warrant Exercise Price between or
                  among shares of such classes of capital stock or shares of
                  Common Stock and other capital stock. All calculations under
                  this subsection shall be made to the nearest cent or to the
                  nearest 1/100 of a share, as the case may be. In the event
                  that at any time as a result of an adjustment made pursuant to
                  this subsection, the holder of any Warrant thereafter
                  surrendered for exercise shall become entitled to receive any
                  shares of the Company other than shares of Common Stock,
                  thereafter the Warrant Exercise Price of such other shares so
                  receivable upon exercise of any Warrant shall be subject to
                  adjustment from time to time in a manner and on terms as
                  nearly equivalent as practicable to the provisions with
                  respect to Common Stock contained in this subsection.

         (b)      Upon each adjustment of the Warrant Exercise Price pursuant to
                  subsection 5(a) above, the holder of each Warrant shall
                  thereafter (until another such adjustment) be entitled to
                  purchase at the adjusted Warrant Exercise Price the number of
                  shares, calculated to the nearest full share, obtained by
                  multiplying the number of shares specified in such Warrant (as
                  adjusted as a result of all adjustments in the Warrant
                  Exercise Price in effect prior to such adjustment) by the
                  Warrant Exercise Price in effect prior to such adjustment and
                  dividing the product so obtained by the adjusted Warrant
                  Exercise Price.

                                       3
<PAGE>

         (c)      In case of any consolidation or merger to which the Company is
                  a party other than a merger or consolidation in which the
                  Company is the continuing corporation, or in case of any sale
                  or conveyance to another corporation of the Company's property
                  as an entirety or substantially as an entirety, or in the case
                  of any statutory exchange of securities with another
                  corporation (including any exchange effected in connection
                  with a merger of a third corporation into the Company), there
                  shall be no adjustment under subsection (a) of this Section
                  but the holder of each Warrant then outstanding shall have the
                  right thereafter to convert such Warrant into the kind and
                  amount of shares of stock and other securities and property
                  which the holder would have owned or have been entitled to
                  receive immediately after such consolidation, merger,
                  statutory exchange, sale, or conveyance had such Warrant been
                  converted immediately prior to the effective date of such
                  consolidation, merger, statutory exchange, sale, or conveyance
                  and in any such case, if necessary, appropriate adjustment
                  shall be made in the application of the provisions set forth
                  in this subsection with respect to the rights and interests
                  thereafter of any holders of the Warrant, to the end that the
                  provisions set forth in this Section shall thereafter
                  correspondingly be made applicable, as nearly as may
                  reasonably be, in relation to any shares of stock and other
                  securities and property thereafter deliverable on the exercise
                  of the Warrant. The provisions of this subsection shall
                  similarly apply to successive consolidations, mergers,
                  statutory exchanges, sales or conveyances.

         (d)      Upon any adjustment of the Warrant Exercise Price, then and in
                  each such case, the Company shall give written notice thereof,
                  by first-class mail, postage prepaid, addressed to the holder
                  as shown on the books of the Company, which notice shall state
                  the Warrant Exercise Price resulting from such adjustment and
                  the increase or decrease, if any, in the number of shares of
                  Common Stock purchasable at such price upon the exercise of
                  this Warrant, setting forth in reasonable detail the method of
                  calculation and the facts upon which such calculation is
                  based.

         6.       No Voting Rights. This Warrant shall not entitle the holder to
any voting rights or other rights as a shareholder of the Company.

         7.       Notice of Transfer of Warrant or Resale of the Warrant Shares.

         (a)      Subject to the sale, assignment, hypothecation, or other
                  transfer restrictions set forth in Section 1 hereof, the
                  holder, by acceptance hereof, agrees to give written notice to
                  the Company before transferring this Warrant or transferring
                  any Warrant Shares of such holder's intention to do so,
                  describing briefly the manner of any proposed transfer.
                  Promptly upon receiving such written notice, the Company shall
                  present copies thereof to the Company's counsel and to counsel
                  to the original purchaser of this Warrant. If in the opinion
                  of each such counsel the proposed transfer may be effected
                  without registration or qualification (under any federal or
                  state securities laws), the Company, as promptly as
                  practicable, shall notify the holder of such opinion,
                  whereupon the holder shall be entitled to transfer this
                  Warrant or to dispose of Warrant Shares received upon the
                  previous exercise of this Warrant, all in accordance with the
                  terms of the notice delivered by the holder to the Company;
                  provided that an appropriate legend may be endorsed on this
                  Warrant or the certificates for such Warrant Shares respecting
                  restrictions upon transfer thereof necessary or advisable in
                  the opinion of counsel and satisfactory to the Company to
                  prevent further transfers which would be in violation of
                  Section 5 of the Securities Act of 1933, as amended (the
                  "Securities Act") and applicable state securities laws;

                                       4
<PAGE>

                  and provided further that the prospective transferee or
                  purchaser shall execute such documents and make such
                  representations, warranties, and agreements as may be required
                  solely to comply with the exemptions relied upon by the
                  Company for the transfer or disposition of the Warrant or
                  Warrant Shares.

         (b)      If in the opinion of either of the counsel referred to in this
                  Section, the proposed transfer or disposition of this Warrant
                  or such Warrant Shares described in the written notice given
                  pursuant to this Section may not be effected without
                  registration or qualification of this Warrant or such Warrant
                  Shares the Company shall promptly give written notice thereof
                  to the holder, and the holder will limit its activities in
                  respect to such as, in the opinion of both such counsel, are
                  permitted by law.

         8.       Fractional Shares. Fractional shares shall not be issued upon
the exercise of this Warrant, but in any case where the holder would, except for
the provisions of this Section, be entitled under the terms hereof to receive a
fractional share, the Company shall, upon the exercise of this Warrant for the
largest number of whole shares then called for, pay a sum in cash equal to the
sum of (a) the excess, if any, of the Market Price of such fractional share over
the proportional part of the Warrant Exercise Price represented by such
fractional share, plus (b) the proportional part of the Warrant Exercise Price
represented by such fractional share. For purposes of this Section, the term
"Market Price" with respect to shares of Common Stock of any class or series
means the last reported sale price or, if none, the average of the last reported
closing bid and asked prices on any national securities exchange or quoted on
the Nasdaq Stock Market or other over-the-counter market, or, if not listed on a
national securities exchange or quoted on the Nasdaq Stock Market or other
over-the-counter market, then the price per share established by the Board of
Directors of the Company.

         IN WITNESS WHEREOF, Scanner Technologies Corporation has caused this
Warrant to be signed by its duly authorized officer and this Warrant to be dated
December 27, 2004.

                                  SCANNER TECHNOLOGIES CORPORATION

                                  By: /s/ Elwin M. Beaty
                                      -----------------------------------------
                                      Elwin M. Beaty, President, Chief Executive
                                      Officer and Chief Financial Officer

                                       5
<PAGE>

To: SCANNER TECHNOLOGIES CORPORATION

                                            NOTICE OF EXERCISE OF WARRANT --

                                            To Be Executed by the Registered
                                            Holder in Order to Exercise the
                                            Warrant

Subscriber hereby irrevocably elects to exercise the attached Warrant to
purchase by surrendering a check, _______________________ of the shares issuable
upon the exercise of such Warrant, and requests that certificates for such
shares (together with a new Warrant to purchase the number of shares, if any,
with respect to which this Warrant is not exercised) shall be issued in the name
of

                                            -----------------------------------
                                                      (Print Name)
Please insert social security
or other identifying number
of registered holder of
certificate (______________________)        Address:

                                            -----------------------------------

                                            -----------------------------------

Dated: ____________________, ______         -----------------------------------
                                            (Signature)*

*The signature on the Notice of Exercise of Warrant must correspond to the name
as written upon the face of the Warrant in every particular without alteration
or enlargement or any change whatsoever. When signing on behalf of a
corporation, partnership, trust or other entity, PLEASE indicate your
position(s) and title(s) with such entity.

<PAGE>

                                 ASSIGNMENT FORM

To be signed only upon authorized transfer of Warrants.

         FOR VALUE RECEIVED, Subscriber hereby sells, assigns, and transfers
unto _____________________________ the right to purchase the securities of
Scanner Technologies Corporation, to which the within Warrant relates and
appoints _____________, attorney, to transfer said right on the books of Scanner
Technologies Corporation, with full power of substitution in the premises.

Dated: ___________________________          -----------------------------------
                                            (Signature)

                                            Address:

                                            -----------------------------------

                                            -----------------------------------EXHIBIT 10.9  FORM OF STOCK OPTION AGREEMENT

                      NON-QUALIFIED STOCK OPTION AGREEMENT
                   UNDER THE PRINCETON NATIONAL BANCORP, INC.
                                STOCK OPTION PLAN

         THIS NON-QUALIFIED STOCK OPTION AGREEMENT (the "Agreement") is made as
of this day of _____________________, between Princeton National Bancorp, Inc.,
a Delaware corporation (the "Company"), and
______________________________________ (the "Optionee").

         WHEREAS, the Company wishes to align the interests of the Optionee with
those of shareholders;

         WHEREAS, on ___________________________, (the "Grant Date"), the
Company's Board of Directors granted non-qualified stock options to certain
employees of the Company and its Subsidiaries, including the Optionee; and

         WHEREAS, the parties desire to document the terms of stock option
grants;

         NOW THEREFORE, the parties agree as follows:

         1. Grant of Options. The Company has granted ____________ Non-Qualified
Stock Options to the Optionee (the "Options"). Once vested, each Option is
exercisable at a price of $____________ per share of the Company's Stock (the
"Option Price").

         2. Vesting of Options. Options are not exercisable until they vest.
Except as otherwise provided herein, no Options shall vest prior to the first
anniversary of the Grant Date. On the first anniversary of the Grant Date,
one-third (1/3) of the Options will be vested and exercisable. On the second
anniversary of the Grant Date, two-thirds (2/3) of the Options will be vested
and exercisable. On the third anniversary of the Grant Date, all of the Options
will be vested and exercisable.

         All Options which have not previously vested shall immediately vest and
become fully exercisable upon the Retirement, Disability or death of the
Optionee.

         3. Expiration of Options. Unless otherwise determined by the Committee,
to the extent not previously exercised, the Options will expire on the earlier
of, (a) the tenth anniversary of the Option Date; (b) three years after the
Retirement, Disability or death of the Optionee; or (c) the termination of
employment of the Optionee for reasons other than Retirement, Disability or
death.

         4. Optionee Rights. No rights or privileges of a shareholder of the
Company are conferred by reason of the granting of the Options. The Optionee
will not become a shareholder of the Company with respect to the Option Stock
unless and until the Options have been properly exercised and the Option Price
fully paid for the number of the Options exercised.

         5. Transferability. The Options are not transferable, except by will or
the laws of descent and distribution, however, the Directors Personnel, Policy
and Salary Committee (the "Committee") has the discretion to allow for other
Transfers of Options, but only to the extent provided in the Plan and only when
such Transfer would be considered a completed gift for tax purposes. If an
Option is transferred, it will continue to be subject to the terms and
conditions of this Agreement, together with the Plan, and may not be

                                                                              18
<PAGE>

transferred again. If the Options are transferable during the Optionee's
lifetime, the Optionee will remain responsible for all applicable withholding
taxes upon the exercise of any transferred Options and will, prior to
transferring any Options, notify the Company of the anticipated Transfer. The
Company shall not be required to provide to the transferee any notice of
termination of any of the Options. If the Optionee transfers an Option and dies
before a transferred Option has been exercised, the Option will automatically
terminate upon the earlier of one year from the date of the Optionee's death or
the expiration of the Option pursuant to this Agreement.

         6. Terms of Options. This Agreement, and the Options issued to the
Optionee, are subject to all of the terms and conditions set forth herein and in
the Plan, as may be amended from time to time, a copy of which has been provided
to Optionee. To the extent that any conflict may exist between any term or
provision of this Agreement and any term or provision of the Plan, the Plan
shall govern. Capitalized terms referenced, but not defined herein, will have
the meaning attributed to them by the Plan. THE OPTIONEE ACKNOWLEDGES THAT HE OR
SHE HAS READ THE PLAN AND AGREES TO BE BOUND BY ITS TERMS. Pursuant to the Plan,
the Committee has authorized the Option Price and any applicable tax withholding
liability associated with exercise of the Options to be payable in cash, or by
netting or withholding Option Stock granted pursuant to the Options being
exercised.

         7. Miscellaneous. This Agreement, together with the Plan, sets forth
the complete agreement of the parties concerning the subject matter hereof,
superseding all prior agreements, negotiations and understandings. Nothing
contained in this Agreement will confer upon the Optionee any right with respect
to the continuation of his or her employment status with the Company or its
Subsidiaries. This Agreement shall be binding upon, and shall inure to the
benefit of, the Company and the Optionee, and their respective heirs, personal
legal representatives and successors. No change or modification of this
Agreement shall be valid unless the same is in writing and signed by the parties
hereto; provided, however, that the Optionee hereby covenants and agrees to
execute any amendment to this Agreement which shall be required or desirable (in
the opinion of the Company or its counsel) in order to comply with the laws
governing this Agreement. This Agreement will be governed by the substantive law
of the State of Illinois and may be executed in counterparts.

         IN WITNESS WHEREOF, the parties have executed this Agreement as of the
date first set forth above.

ATTEST:                                 PRINCETON NATIONAL BANCORP, INC.

                                        By:
--------------------------------            ------------------------------------
V.P. -- Investor Relations                        Chairman of the Board

                                       Optionee:
                                                 -------------------------------

                                                                              19

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