Document:

exh10-5_stockplan.htm

     

    
      

      

    

     

     

     

     

     

     

    EXHIBIT
      10.5

     

    2007
      STOCK OPTION
      PLAN, AS AMENDED

     

     

     

     

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    HEALTHY
      FAST FOOD, INC.

    2007
      STOCK OPTION PLAN

    

    1.           Purpose;
      Effectiveness of the Plan.

    

    
      	
               

            	
              (a)

            	
              The
                purpose of this Plan is to advance the interests of the Company and
                its
                stockholders by helping the Company obtain and retain the services
                of
                employees, officers, consultants, and directors,  upon whose
                judgment, initiative and efforts the Company is substantially dependent,
                and to provide those persons with further incentives to advance the
                interests of the Company.

            

    

    

    
      	
               

            	
              (b)

            	
              This
                Plan will become effective on the date of its adoption by the Board,
                provided the Plan is approved by the stockholders of the Company
                (excluding holders of shares of Stock issued by the Company pursuant
                to
                the exercise of options granted under this Plan) within twelve months
                before or after that date.  If the Plan is not so approved by
                the stockholders of the Company, any options granted under this Plan
                will
                be rescinded and will be void.  This Plan will remain in effect
                until it is terminated by the Board or the Committee (as defined
                hereafter) under section 9 hereof, except that no ISO (as defined
                herein)
                will be granted after the tenth anniversary of the date of this Plan’s
                adoption by the Board.  This Plan will be governed by, and
                construed in accordance with, the laws of the State of
                Nevada.

            

    

    

    
      	
              2.

            	
              Certain
                Definitions.

            

    

    

    Unless
      the context otherwise requires, the following defined terms (together with
      other
      capitalized terms defined elsewhere in this Plan) will govern the construction
      of this Plan, and of any stock option agreements entered into pursuant to this
      Plan:

    

    
      	
               

            	
              (a)

            	
              “10%
                Stockholder” means a person who owns, either directly or indirectly by
                virtue of the ownership attribution provisions set forth in Section
                424(d)
                of the Code at the time he or she is granted an Option, stock possessing
                more than ten percent (10%) of the total combined voting power or
                value of
                all classes of stock of the Company and/or of its
                subsidiaries;

            

    

    

    
      	
               

            	
              (b)

            	
              “1933
                Act” means the federal Securities Act of 1933, as
                amended;

            

    

    

    
      	
               

            	
              (c)

            	
              “Board”
                means the Board of Directors of the
                Company;

            

    

    

    
      	
               

            	
              (d)

            	
              “Called
                for under an Option,” or words to similar effect, means issuable
                pursuant to the exercise of an
                Option;

            

    

    

    
      	
               

            	
              (e)

            	
              “Code”
                means the Internal Revenue Code of 1986, as amended (references herein
                to
                Sections of the Code are intended to refer to Sections of the Code
                as
                enacted at the time of this Plan’s adoption by the Board and as
                subsequently amended, or to any

            

    

    
      
        
          Healthy
            Fast Food, Inc. 2007 Stock Option Plan – as amended July 21, 2007 –
page 1 of 12    

        

        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    substantially
      similar successor provisions of the Code resulting from recodification,
      renumbering or otherwise);

    

    
      	
               

            	
              (f)

            	
              “Committee”
                means a committee of two or more Disinterested Directors, appointed
                by the
                Board, to administer and interpret this Plan; provided that the term
                “Committee” will refer to the Board during such times as no Committee is
                appointed by the Board;

            

    

    

    
      	
               

            	
              (g)

            	
              “Company”
                means Healthy Fast Food, Inc., a Nevada
                corporation;

            

    

    

    
      	
               

            	
              (h)

            	
              “Disability”
                has the same meaning as “permanent and total disability,” as defined in
                Section 22(e)(3) of the Code;

            

    

    

    
      	
               

            	
              (i)

            	
              “Disinterested
                Director” means a member of the Board who is not during the period of
                one year prior to his or her service as an administrator of the Plan,
                or
                during the period of such service, granted or awarded Stock, options
                to
                acquire Stock, or similar equity securities of the Company under
                this Plan
                or any similar plan of the Company, other than the grant of a Formula
                Option pursuant to section 6(m) of this
                Plan;

            

    

    

    
      	
               

            	
              (j)

            	
              “Eligible
                Participants” means persons who, at a particular time, are employees,
                officers, consultants, or directors of the Company or its
                subsidiaries;

            

    

    

    
      	
               

            	
              (k)

            	
              “Fair
                Market Value” means, with respect to the Stock and as of the date an
                ISO or a Formula Option is granted hereunder, the market price per
                share
                of such Stock determined by the Committee, consistent with the
                requirements of Section 422 of the Code and to the extent consistent
                therewith, as follows:

            

    

    

    
      	
               

            	
              (i)

            	
              If
                the Stock was traded on a stock exchange on the date in question,
                then the
                Fair Market Value will be equal to the closing price reported by
                the
                applicable composite-transactions report for such
                date;

            

    

    

    
      	
               

            	
              (ii)

            	
              If
                the Stock was traded over-the-counter on the date in question and
                was
                classified as a national market issue, then the Fair Market Value
                will be
                equal to the last-transaction price quoted by the NASDAQ system for
                such
                date;

            

    

    

    
      	
               

            	
              (iii)

            	
              If
                the Stock was traded over-the-counter on the date in question but
                was not
                classified as a national market issue, then the Fair Market Value
                will be
                equal to the average of the last reported representative bid and
                asked
                prices quoted by the NASDAQ system for such date;
                and

            

    

    

    
      	
               

            	
              (iv)

            	
              If
                none of the foregoing provisions is applicable, then the Fair Market
                Value
                will be determined by the Committee in good faith on such basis as
                it
                deems appropriate.

            

    

    
      
        
          Healthy
            Fast Food, Inc. 2007 Stock Option Plan – as amended July 21, 2007 –
page 2 of 12    

        

        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    
      	
               

            	
              (l)

            	
              “Formula
                Option” means an NSO granted to members of the Committee pursuant to
                section 6(m) hereof;

            

    

    

    
      	
                         
                (m)

            	
              “ISO”
                has the same meaning as “incentive stock option,” as defined in Section
                422 of the Code;

            

    

    

    
      	
               

            	
              (n)

            	
              “Just
                Cause Termination” means a termination by the Company of an Optionee’s
                employment by and/or service to the Company (or if the Optionee is
                a
                director, removal of the Optionee from the Board by action of the
                stockholders or, if permitted by applicable law and the by-laws of
                the
                Company, the other directors), in connection with the good faith
                determination of the Company’s board of directors (or of the Company’s
                stockholders if the Optionee is a director and the removal of the
                Optionee
                from the Board is by action of the stockholders, but in either case
                excluding the vote of the Optionee if he or she is a director or
                a
                stockholder) that the Optionee has engaged in any acts involving
                dishonesty or moral turpitude or in any acts that materially and
                adversely
                affect the business, affairs or reputation of the Company or its
                subsidiaries;

            

    

    

    
      	
               

            	
              (o)

            	
              “NSO”
                means any option granted under this Plan whether designated by the
                Committee as a “non-qualified stock option,” a “non-statutory stock
                option” or otherwise, other than an option designated by the Committee as
                an ISO, or any option so designated but which, for any reason, fails
                to
                qualify as an ISO pursuant to Section 422 of the Code and the rules
                and
                regulations thereunder;

            

    

    

    
      	
               

            	
              (p)

            	
              “Option”
                means an option granted pursuant to this Plan entitling the option
                holder
                to acquire shares of Stock issued by the Company pursuant to the
                valid
                exercise of the option;

            

    

    

    
      	
               

            	
              (q)

            	
              “Option
                Agreement” means an agreement between the Company and an Optionee, in
                form and substance satisfactory to the Committee in its sole discretion,
                consistent with this Plan;

            

    

    

    
      	
               

            	
              (r)

            	
              “Option
                Price” with respect to any particular Option means the exercise price
                at which the Optionee may acquire each share of the Option Stock
                called
                for under such Option;

            

    

    

    
      	
               

            	
              (s)

            	
              “Option
                Stock” means Stock issued or issuable by the Company pursuant to the
                valid exercise of an Option;

            

    

    

    
      	
               

            	
              (t)

            	
              “Optionee”
                means an Eligible Participant to whom Options are granted hereunder,
                and
                any transferee thereof pursuant to a Transfer authorized under this
                Plan;

            

    

    

    
      	
               

            	
              (u)

            	
              “Plan”
                means this 2007 Stock Option Plan of the
                Company;

            

    

    
      
        
          Healthy
            Fast Food, Inc. 2007 Stock Option Plan – as amended July 21, 2007 –
page 3 of 12    

        

        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    
      	
               

            	
              (v)

            	
              “QDRO”
                has the same meaning as “qualified domestic relations order” as defined in
                Section 414(p) of the Code;

            

    

    

    
      	
               

            	
              (w)

            	
              “Stock”
                means shares of the Company’s Common Stock, $0.0001 par
                value;

            

    

    

    
      	
               

            	
              (x)

            	
              “Subsidiary”
                has the same meaning as “Subsidiary Corporation” as defined in Section
                424(f) of the Code;

            

    

    

    
      	
               

            	
              (y)

            	
              “Transfer,”
                with respect to Option Stock, includes, without limitation, a voluntary
                or
                involuntary sale, assignment, transfer, conveyance, pledge, hypothecation,
                encumbrance, disposal, loan, gift, attachment or levy of such Option
                Stock, including without limitation an assignment for the benefit
                of
                creditors of the Optionee, a transfer by operation of law, such as
                a
                transfer by will or under the laws of descent and distribution, an
                execution of judgment against the Option Stock or the acquisition
                of
                record or beneficial ownership thereof by a lender or creditor, a
                transfer
                pursuant to a QDRO, or to any decree of divorce, dissolution or separate
                maintenance, any property settlement, any separation agreement or
                any
                other agreement with a spouse (except for estate planning purposes)
                under
                which a part or all of the shares of Option Stock are transferred
                or
                awarded to the spouse of the Optionee or are required to be sold;
                or a
                transfer resulting from the filing by the Optionee of a petition
                for
                relief, or the filing of an involuntary petition against such Optionee,
                under the bankruptcy laws of the United States or of any other
                nation.

            

    

    

    
      	
              3.

            	
              Eligibility.

            

    

    

    The
      Company may grant Options under this Plan only to persons who are Eligible
      Participants as of the time of such grant.  Subject to the provisions
      of sections 4(d), 5 and 6 hereof, there is no limitation on the number of
      Options that may be granted to an Eligible Participant.

    

    
      	
              4.

            	
              Administration.

            

    

    

    
      	
               

            	
              (a)

            	
              Committee.  The
                Committee, if appointed by the Board, will administer this
                Plan.  If the Board, in its discretion, does not appoint such a
                Committee, the Board itself will administer this Plan and take such
                other
                actions as the Committee is authorized to take hereunder; provided
                that
                the Board may take such actions hereunder in the same manner as the
                Board
                may take other actions under the Company’s Articles of Incorporation and
                By-laws generally.

            

    

    

    
      	
               

            	
              (b)

            	
              Authority
                and Discretion of Committee.  The Committee will have full
                and final authority in its discretion, at any time and from time
                to time,
                subject only to the express terms, conditions and other provisions
                of the
                Company’s Articles of incorporation, by-laws and this Plan, and the
                specific limitations on such discretion set forth
                herein:

            

    

    
      
        
          Healthy
            Fast Food, Inc. 2007 Stock Option Plan – as amended July 21, 2007 –
page 4 of 12    

        

        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
      	
               

            	
              (i)

            	
              to
                select and approve the persons who will be granted Options under
                this Plan
                from among the Eligible Participants, and to grant to any person
                so
                selected one or more Options to purchase such number of shares of
                Option
                Stock as the Committee may
                determine;

            

    

    

    
      	
               

            	
              (ii)

            	
              to
                determine the period or periods of time during which Options may
                be
                exercised, the Option Price and the duration of such Options, and
                other
                matters to be determined by the Committee in connection with specific
                Option grants and Options Agreements as specified under this
                Plan;

            

    

    

    
      	
               

            	
              (iii)

            	
              to
                interpret this Plan, to prescribe, amend and rescind rules and regulations
                relating to this Plan, and to make all other determinations necessary
                or
                advisable for the operation and administration of this Plan;
                and

            

    

    

    
      	
               

            	
              (iv)

            	
              to
                delegate all or a portion of its authority under subsections (i)
                and (ii)
                of this section 4(b) to one or more directors of the Company who
                are
                executive officers of the Company, but only in connection with Options
                granted to Eligible Participants who are not subject to the reporting
                and
                liability provisions of Section 16 of the Securities Exchange Act
                of 1934,
                as amended, and the rules and regulations thereunder, and subject
                to such
                restrictions and limitations (such as the aggregate number of shares
                of
                Option Stock called for by such Options that may be granted) as the
                Committee may decide to impose on such delegate
                directors.

            

    

    

    
      	
               

            	
              (c)

            	
              Limitation
                on Authority.  Notwithstanding the foregoing, or any other
                provision of this Plan, the Committee will have no
                authority:

            

    

    

    
      	
               

            	
              (i)

            	
              to
                grant Options to any of its members, whether or not approved by the
                Board;
                and

            

    

    

    
      	
               

            	
              (ii)

            	
              to
                determine any matters, or exercise any discretion, in connection
                with the
                Formula Options under section 6(m) hereof, to the extent that the
                power to
                make such determinations or to exercise such discretion would cause
                one or
                more members of the Committee no longer to be “Disinterested Directors”
                within the meaning of section 2(i)
                above.

            

    

    

    
      	
               

            	
              (d)

            	
              Designation
                of Options.  Except as otherwise provided herein, the
                Committee will designate any Option granted hereunder either as an
                ISO or
                as an NSO.  To the extent that the Fair Market Value (determined
                at the time the Option is granted) of Stock with respect to which
                all ISOs
                are exercisable for the first time by any individual during any calendar
                year (pursuant to this Plan and all other plans of the Company and/or
                its
                subsidiaries) exceeds $100,000, such option will be treated as an
                NSO.  Notwithstanding the general eligibility provisions of
                section 3 hereof, the Committee may grant ISOs only to persons who
                are
                employees of the Company and/or its
                subsidiaries.

            

    

    
      
        
          Healthy
            Fast Food, Inc. 2007 Stock Option Plan – as amended July 21, 2007 –
page 5 of 12    

        

        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
      	
               

            	
              (e)

            	
              Option
                Agreements.  Options will be deemed granted hereunder only
                upon the execution and delivery of an Option Agreement by the Optionee
                and
                a duly authorized officer of the Company.  Options will not be
                deemed granted hereunder merely upon the authorization of such grant
                by
                the Committee.

            

    

    

    
      	
              5.

            	
              Shares
                Reserved for Options.

            

    

    

    
      	
               

            	
              (a)

            	
              Option
                Pool.  The aggregate number of shares of Option Stock that
                may be issued pursuant to the exercise of Options granted under this
                Plan
                initially will not exceed Four Hundred Seventy Thousand (470,000)
                (the
                “Option Pool”), provided that such number automatically shall be
                adjusted quarterly on the beginning of each of the Company’s fiscal
                quarters to a number equal to 10% of the number of shares of Stock
                of the
                Company outstanding at the end of the Company’s last completed fiscal
                quarter, or 470,000 shares, whichever is greater, and provided further
                that such number will be increased by the number of shares of Option
                Stock
                that the Company subsequently may reacquire through repurchase or
                otherwise.  Shares of Option Stock that would have been issuable
                pursuant to Options, but that are no longer issuable because all
                or part
                of those Options have terminated or expired, will be deemed not to
                have
                been issued for purposes of computing the number of shares of Option
                Stock
                remaining in the Option Pool and available for
                issuance.

            

    

    

    
      	
               

            	
              (b)

            	
              Adjustments
                Upon Changes in Stock.  In the event of any change in the
                outstanding Stock of the Company as a result of a stock split, reverse
                stock split, stock dividend, recapitalization, combination or
                reclassification, appropriate proportionate adjustments will be made
                in:

            

    

    

    
      	
               

            	
              (i)

            	
              the
                aggregate number of shares of Option Stock in the Option Pool that
                may be
                issued pursuant to the exercise of Options granted
                hereunder;

            

    

    

    
      	
               

            	
              (ii)

            	
              the
                Option Price and the number of shares of Option Stock called for
                in each
                outstanding Option granted hereunder;
                and

            

    

    

    
      	
               

            	
              (iii)

            	
              other
                rights and matters determined on a per share basis under this Plan
                or any
                Option Agreement hereunder.  Any such adjustments will be made
                only by the Board, and when so made will be effective, conclusive
                and
                binding for all purposes with respect to this Plan and all Options
                then
                outstanding.  No such adjustments will be required by reason of
                the issuance or sale by the Company for cash or other consideration
                of
                additional shares of its Stock or securities convertible into or
                exchangeable for shares of its
                Stock.

            

    

    

    
      	
              6.

            	
              Terms
                of Stock Option
                Agreements.

            

    

    

    Each
      Option granted pursuant to this Plan will be evidenced by an agreement (an
      “Option Agreement”) between the Company and the person to whom such
      Option is granted, in form

    
      
        
          Healthy
            Fast Food, Inc. 2007 Stock Option Plan – as amended July 21, 2007 –
page 6 of 12    

        

        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    and
      substance satisfactory to the Committee in its sole discretion, consistent
      with
      this Plan.  Without limiting the foregoing, each Option Agreement
      (unless otherwise stated therein) will be deemed to include the following terms
      and conditions:

    

    
      	
               

            	
              (a)

            	
              Covenants
                of Optionee.  At the discretion of the Committee, the
                person to whom an Option is granted hereunder, as a condition to
                the
                granting of the Option, must execute and deliver to the Company a
                confidential information agreement approved by the
                Committee.  Nothing contained in this Plan, any Option Agreement
                or in any other agreement executed in connection with the granting
                of an
                Option under this Plan will confer upon any Optionee any right with
                respect to the continuation of his or her status as an employee of,
                consultant or independent contractor to, or director of, the Company
                or
                its subsidiaries.

            

    

    

    
      	
               

            	
              (b)

            	
              Vesting
                Periods.  Except as otherwise provided herein, each Option
                Agreement may specify the period or periods of time within which
                each
                Option or portion thereof will first become exercisable (the “Vesting
                Period”) with respect to the total number of shares of Option Stock
                called for thereunder (the “Total Award Option
                Stock”).  Such Vesting Periods will be fixed by the
                Committee in its discretion, and may be accelerated or shortened
                by the
                Committee in its discretion.

            

    

    

    Unless
      the Option Agreement executed by an Optionee expressly otherwise provides and
      except as set forth herein, the right to exercise an Option granted hereunder
      will be subject to the following Vesting Periods, subject to the Optionee
      continuing to be an Eligible Participant and the occurrence of any other event
      (including the passage of time) that would result in the cancellation or
      termination of the Option:

    

    
      	
               

            	
              (i)

            	
              no
                portion of the Option will be exercisable prior to four (4) months
                from
                the Grant Date set forth in the Option
                Agreement;

            

    

    

    
      	
               

            	
              (ii)

            	
              upon
                and after the expiration of one (1) year from the Grant Date, the
                Optionee
                may purchase up to one-half of the Total Award Option Stock;
                and

            

    

    

    
      	
               

            	
              (iii)

            	
              the
                Option will become exercisable on a cumulative basis as to the remaining
                half of the Total Award Option Stock, two (2) years from the Grant
                Date,
                so that the Option will have become fully exercisable, subject to
                the
                Optionee’s remaining an Eligible Participant, on the second anniversary of
                such Grant Date; and

            

    

    

    
      	
               

            	
              (iv)

            	
              such
                additional vesting periods as may be determined by the Committee
                in its
                sole discretion.

            

    

    

    
      	
               

            	
              (c)

            	
              Exercise
                of the Option.

            

    

    

    
      	
               

            	
              (i)

            	
              Mechanics
                and Notice.  An Option may be exercised to the extent
                exercisable (1) by giving written notice of exercise to the Company,
                specifying the

            

    

    
      
        
          Healthy
            Fast Food, Inc. 2007 Stock Option Plan – as amended July 21, 2007 –
page 7 of 12    

        

        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    number
      of
      full shares of Option Stock to be purchased and accompanied by full payment
      of
      the Option Price thereof and the amount of withholding taxes pursuant to
      subsection 6(c)(ii) below; and (2) by giving assurances satisfactory to the
      Company that the shares of Option Stock to be purchased upon such exercise
      are
      being purchased for investment and not with a view to resale in connection
      with
      any distribution of such shares in violation of the 1933 Act; provided, however,
      that in the event the Option Stock called for under the Option is registered
      under the 1933 Act, or in the event resale of such Option Stock without such
      registration would otherwise be permissible, this second condition will be
      inoperative if, in the opinion of counsel for

     the
      Company, such condition is not required under the 1933 Act, or any other
      applicable law, regulation or rule of any governmental agency.

    

    
      	
               

            	
              (ii)

            	
              Withholding
                Taxes.  As a condition to the issuance of the shares of
                Option Stock upon full or partial exercise of an NSO granted under
                this
                Plan, the Optionee will pay to the Company in cash, or in such other
                form
                as the Committee may determine in its discretion, the amount of the
                Company’s tax withholding liability required in connection with such
                exercise.  For purposes of this subsection 6(c)(ii), “tax
                withholding liability” will mean all federal and state income taxes,
                social security tax, and any other taxes applicable to the compensation
                income arising from the transaction required by applicable law to
                be
                withheld by the Company.

            

    

    

    
      	
               

            	
              (d)

            	
              Payment
                of Option Price.  Each Option Agreement will specify the
                Option Price with respect to the exercise of Option Stock thereunder,
                to
                be fixed by the Committee in its discretion, but in no event will
                the
                Option Price for an ISO granted hereunder be less than the Fair Market
                Value (or, in case the Optionee is a 10% Stockholder, one hundred
                ten
                percent (110%) of such Fair Market Value) of the Option Stock at
                the time
                such ISO is granted, and in no event will the Option Price for an
                NSO
                granted hereunder be less than eighty-five percent (85%) of Fair
                Market
                Value.  The Option Price will be payable to the Company in
                United States dollars in cash or by check or, such other legal
                consideration as may be approved by the Committee, in its
                discretion.

            

    

    

    
      	
               

            	
              (i)

            	
              For
                example, the Committee, in its discretion, may permit a particular
                Optionee to pay all or a portion of the Option Price, and/or the
                tax
                withholding liability set forth in subsection 6(c)(ii) above, with
                respect
                to the exercise of an Option either by surrendering shares of Stock
                already owned by such Optionee or by withholding shares of Option
                Stock,
                provided that the Committee determines that the fair market value
                of such
                surrendered Stock or withheld Option Stock is equal to the corresponding
                portion of such Option Price and/or tax withholding liability, as
                the case
                may be, to be paid for
                therewith.

            

    

    
      
        
          Healthy
            Fast Food, Inc. 2007 Stock Option Plan – as amended July 21, 2007 –
page 8 of 12    

        

        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
      	
               

            	
              (ii)

            	
              If
                the Committee permits an Optionee to pay any portion of the Option
                Price
                and/or tax withholding liability with shares of Stock with respect
                to the
                exercise of an Option (the “Underlying Option”) as provided in
                subsection 6(d)(i) above, then the Committee, in its discretion,
                may grant
                to such Optionee (but only if Optionee remains an Eligible Participant
                at
                that time) additional NSOs, the number of shares of Option Stock
                called
                for thereunder to be equal to all or a portion of the Stock so surrendered
                or withheld (a “Replacement Option”). Each Replacement Option will
                be evidenced by an Option Agreement.  Unless otherwise set forth
                therein, each Replacement Option will be immediately exercisable
                upon such
                grant (without any Vesting Period) and will be coterminous with the
                Underlying Option.  The Committee, in its sole discretion, may
                establish such other terms and conditions for Replacement Options
                as it
                deems appropriate.

            

    

    

    
      	
               

            	
              (e)

            	
              Termination
                of the Option.  Except as otherwise provided herein, each
                Option Agreement will specify the period of time, to be fixed by
                the
                Committee in its discretion, during which the Option granted therein
                will
                be exercisable, not to exceed ten years from the date of grant in
                the case
                of an ISO (the “Option Period”); provided that the Option Period
                will not exceed five years from the date of grant in the case of
                an ISO
                granted to a 10% Stockholder.  To the extent not previously
                exercised, each Option will terminate upon the expiration of the
                Option
                Period specified in the Option Agreement; provided, however, that
                each
                such Option will terminate, if
                earlier:

            

    

    

    
      	
               

            	
              (i)

            	
              ninety
                days after the date that the Optionee ceases to be an Eligible Participant
                for any reason, other than by reason of death or disability or a
                Just
                Cause Termination;

            

    

    

    
      	
               

            	
              (ii)

            	
              twelve
                months after the date that the Optionee ceases to be an Eligible
                Participant by reason of such person’s death or disability;
                or

            

    

    

    
      	
               

            	
              (iii)

            	
              immediately
                as of the date that the Optionee ceases to be an Eligible Participant
                by
                reason of a Just Cause Termination.

            

    

    

    In
      the
      event of a sale or all or substantially all of the assets of the Company, or
      a
      merger or consolidation or other reorganization in which the Company is not
      the
      surviving corporation, or in which the Company becomes a subsidiary of another
      corporation (any of the foregoing events, a “Corporate Transaction”),
      then notwithstanding anything else herein, the right to exercise all then
      outstanding Options will vest immediately prior to such Corporate Transaction
      and will terminate immediately after such Corporate Transaction; provided,
      however, that if the Board, in its sole discretion, determines that such
      immediate vesting of the right to exercise outstanding Options is not in the
      best interests of the Company, then the successor corporation must agree to
      assume the outstanding Options or substitute therefor

    
      
        
          Healthy
            Fast Food, Inc. 2007 Stock Option Plan – as amended July 21, 2007 –
page 9 of 12    

        

        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    comparable
      options of such successor corporation or a parent or subsidiary of such
      successor corporation.

    

    
      	
               

            	
              (f)

            	
              Options
                Nontransferable.  No Option will be transferable by the
                Optionee otherwise than by will or the laws of descent and distribution,
                or in the case of an NSO, pursuant to a QDRO.  During the
                lifetime of the Optionee, the Option will be exercisable only by
                him or
                her, or the transferee of an NSO if it was transferred pursuant to
                a
                QDRO.

            

    

    

    
      	
               

            	
              (g)

            	
              Qualification
                of Stock.  The right to exercise an Option will be further
                subject to the requirement that if at any time the Board determines,
                in
                its discretion, that the listing, registration or qualification of
                the
                shares of Option Stock called for thereunder upon any securities
                exchange
                or under any state or federal law, or the consent or approval of
                any
                governmental regulatory authority, is necessary or desirable as a
                condition of or in connection with the granting of such Option or
                the
                purchase of shares of Option Stock thereunder, the Option may not
                be
                exercised, in whole or in part, unless and until such listing,
                registration, qualification, consent or approval is effected or obtained
                free of any conditions not acceptable to the Board, in its
                discretion.

            

    

    

    
      	
               

            	
              (h)

            	
              Additional
                Restrictions on Transfer.  By accepting Options and/or
                Option Stock under this Plan, the Optionee will be deemed to represent,
                warrant and agree as follows:

            

    

    

    
      	
               

            	
              (i)

            	
              Securities
                Act of 1933.  The Optionee understands that the shares of
                Option Stock have not been registered under the 1933 Act, and that
                such
                shares are not freely tradeable and must be held indefinitely unless
                such
                shares are either registered under the 1933 Act or an exemption from
                such
                registration is available.  The Optionee understands that the
                Company is under no obligation to register the shares of Option
                Stock.

            

    

    

    
      	
               

            	
              (ii)

            	
              Other
                Applicable Laws.  The Optionee further understands that
                Transfer of the Option Stock requires full compliance with the provisions
                of all applicable laws.

            

    

    

    
      	
               

            	
              (iii)

            	
              Investment
                Intent.  Unless a registration statement is in effect with
                respect to the sale of Option Stock obtained through exercise of
                Options
                granted hereunder:  (1) Upon exercise of any Option, the
                Optionee will purchase the Option Stock for his or her own account
                and not
                with a view to distribution within the meaning of the 1933 Act, other
                than
                as may be effected in compliance with the 1933 Act and the rules
                and
                regulations promulgated thereunder; (2) no one else will have any
                beneficial interest in the Option Stock; and (3) he or she has no
                present
                intention of disposing of the Option Stock at any particular
                time.

            

    

    
      
        
          Healthy
            Fast Food, Inc. 2007 Stock Option Plan – as amended July 21, 2007 –
page 10 of 12    

        

        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
      	
               

            	
              (i)

            	
              Compliance
                with Law.  Notwithstanding any other provision of this
                Plan, Options may be granted pursuant to this Plan, and Option Stock
                may
                be issued pursuant to the exercise thereof by an Optionee, only after
                there has been compliance with all applicable federal and state securities
                laws, and all of the same will be subject to this overriding
                condition.  The Company will not be required to register or
                qualify Option Stock with the Securities and Exchange Commission
                or any
                State agency, except that the Company will register with, or as required
                by local law, file for and secure an exemption from such registration
                requirements from, the applicable securities administrator and other
                officials of each jurisdiction in which an Eligible Participant would
                be
                granted an Option hereunder prior to such
                grant.

            

    

    

    
      	
               

            	
              (j)

            	
              Stock
                Certificates.  Certificates representing the Option Stock
                issued pursuant to the exercise of Options will bear all legends
                required
                by law and necessary to effectuate this Plan’s provisions.  The
                Company may place a “stop transfer” order against shares of the Option
                Stock until all restrictions and conditions set forth in this Plan
                and in
                the legends referred to in this section 6(k) have been complied
                with.

            

    

    

    
      	
               

            	
              (k)

            	
              Notices.  Any
                notice to be given to the Company under the terms of an Option Agreement
                will be addressed to the Company at its principal executive office,
                Attention:  Corporate Secretary, or at such other address as the
                Company may designate in writing.  Any notice to be given to an
                Optionee will be addressed to the Optionee at the address provided
                to the
                Company by the Optionee.  Any such notice will be deemed to have
                been duly given if and when enclosed in a properly sealed envelope,
                addressed as aforesaid, registered and deposited, postage and registry
                fee
                prepaid, in a post office or branch post office regularly
                maintained

            

    

    

    
      	
               

            	
              (l)

            	
              Other
                Provisions.  The Option Agreement may contain such other
                terms, provisions  and conditions, including such special
                forfeiture conditions, rights of repurchase, rights of first refusal
                and
                other restrictions on Transfer of Option Stock issued upon exercise
                of any
                Options granted hereunder, not inconsistent with this Plan, as may
                be
                determined by the Committee in its sole
                discretion.

            

    

    

    
      	
                        
                (m)

            	
              Formula
                Options. [Reserved for future
                consideration]

            

    

    

    
      	
              7.

            	
              Proceeds
                from Sale of Stock.

            

    

    

    Cash
      proceeds from the sale of shares of Option Stock issued from time to time upon
      the exercise of Options granted pursuant to this Plan will be added to the
      general funds of the Company and as such will be used from time to time for
      general corporate purposes.

    

    
      	
              8.

            	
              Modification,
                Extension and Renewal of
                Options.

            

    

    

    Subject
      to the terms and conditions and within the limitations of this Plan, and except
      with respect to Formula Options, the Committee may modify, extend or renew
      outstanding Options granted under this Plan, or accept the surrender of
      outstanding Options (to the extent

    
      
        
          Healthy
            Fast Food, Inc. 2007 Stock Option Plan – as amended July 21, 2007 –
page 11 of 12    

        

        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    not
      theretofore exercised) and authorize the granting of new Options in substitution
      therefor (to the extent not theretofore exercised).  Notwithstanding
      the foregoing, however, no modification of any Option will, without the consent
      of the holder of the Option, alter or impair any rights or obligations under
      any
      Option theretofore granted under this Plan.

    

    
      	
              9.

            	
              Amendment
                and Discontinuance.

            

    

    

    The
      Board
      may amend, suspend or discontinue this Plan at any time or from time to time;
      provided that no action of the Board will cause ISOs granted under this Plan
      not
      to comply with Section 422 of the Code unless the Board specifically declares
      such action to be made for that purpose and provided further that no such action
      may, without the approval of the stockholders of the Company, materially
      increase (other than by reason of an adjustment pursuant to section 5(b) hereof)
      the maximum aggregate number of shares of Option Stock in the Option Pool that
      may be issued under Options granted pursuant to this Plan or materially increase
      the benefits accruing to Plan participants or materially modify eligibility
      requirements for the participants.  Provided, further, that the
      provisions of section 6(m)

    hereof
      may not be amended more often than once during any six (6) month period, other
      than to comport with changes in the Code, the Employee Retirement Income
      Security Act, or the rules and regulations thereunder.  Moreover, no
      such action may alter or impair any Option previously granted under this Plan
      without the consent of the holder of such Option.

    

    10.           Plan
      Compliance with Rule 16b-3.

    

    With
      respect to persons subject to Section 16 of the Securities Exchange Act of
      1934,
      transactions under this plan are intended to comply with all applicable
      conditions of Rule 16b-3 or its successors under the 1934 Act. To the extent
      any
      provision of the plan or action by the plan administrators fails so to comply,
      it shall be deemed null and void, to the extent permitted by law and deemed
      advisable by the plan administrators.

    

    
      	
              11.

            	
              Copies
                of Plan.

            

    

    

    A
      copy of
      this Plan will be delivered to each Optionee at or before the time he or she
      executes an Option Agreement.

    

     ***

    Date
      Plan
      Adopted by Board of
      Directors:        June 26,
      2007

    Date
      Plan
      Approved by
      Stockholders:               June
      27, 2007

    

    Date
      Amendment of Section 5(a) as to minimum number of shares adopted by Board of
      Directors:

    July
      20, 2007

    Date
      Amendment of Section 5(a) as to minimum number of shares adopted by
      Stockholders:

    July
      21, 2007

     

     

     

    
      
        
          Healthy
            Fast Food, Inc. 2007 Stock Option Plan – as amended July 21, 2007 –
page 12 of 12exh10-6_promissory.htm

     

    
      

      

    

     

     

     

     

     

     

     

     

     

     

    EXHIBIT
      10.6

     

    PROMISSORY
      NOTE
      DATED OCTOBER 24, 2006 TO HENRY E. CARTWRIGHT

    AND
      IRA J. MILLER
      AS TRUSTEE OF THE MILLER FAMILY TRUST DATED JULY 18, 2000

     

    
 

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    PROMISSORY
      NOTE (“Note”)

    

    

    On
      this date of
      October 24, 2006, in return for valuable consideration to be received in various
      tranches to be described below, the undersigned borrower, Healthy Fast Food,
      Inc. (“HFF”), a Nevada Corporation, agrees to pay to Henry E. Cartwright
      (“Cartwright”) and Ira J. Miller as Trustee of The Miller Family Trust dated
      July 18, 2000 (“Miller”), collectively referred to as the Lenders (“Lenders”),
      the total sum of up to Three Hundred Thousand Dollars ($300,000.00), together
      with interest thereon at the rate of Ten Percent (10.0%) (“Note Interest
      Rate”).

    

    Tranches:  Each
      of the Lenders may provide funds as part of this Note at various dates as funds
      are required by HFF.  Each such funding will be referenced as a
      Tranche under this Note and they will be sequencially numbered starting with
      Tranche 1.  The total sum of all Tranches under this Note will be
      limited to $300,000.00. Either Lender may provide as much of the $300,000.00
      in
      funding under the Note, in as many separate Tranches as deemed desirable by
      the
      Lender and HFF. Neither Lender is required to make any funding under this Note.
      HFF will provide written confirmation of each Tranche to all Lenders within
      one
      (1) business day of that Tranche having been finalized.  Interest on
      each Tranche will be calculated from the date of funding under that Tranche
      (“Tranche ‘X’ Effective Date”) as simple interest at the Note Interest Rate on a
      365 day year basis, until that Tranche is repaid.

    

    Terms
      of
      Repayment:  All repayments by HFF will be made proportionately across
      all outstanding Tranches, repaying interest first and then
      principle.  There will be no premium or penalty for prepayment at any
      time.  The full repayment of all outstanding interest and principle is
      expected to be made from funds anticipated to be received by HFF as part of
      a
      planned Secondary Private Placement during the last quarter of 2006. HFF agrees
      not to use any new funding of any sort, whether equity, debt, or any combination
      thereof, for use in the business of HFF without first repaying in full all
      outstanding interest and principle of all outstanding Tranches.  Final
      repayment of all outstanding interest and principle will be due no later than
      January 31, 2007.

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    Place
      of
      Payment:  All payments of interest and principle will be paid to each
      Lender at their respective home addresses.

    

    Default:  HFF
      will be default if the full amount of all outstanding interest and principle
      of
      all Tranches are not repaid by January 31, 2007 or if any of the other terms
      and
      conditions is breaches (“Default”).  In the event of Default, HFF
      agrees top pay all costs and expenses incurred by the Lenders, including all
      reasonable attorney fees (including both hourly and contingent attorney fees
      as
      permitted by law0 for the collection of this Note upon default, and including
      reasonable collection charges (including, where consistent with industry
      practices, a collection charge set as a percentage of the outstanding balance
      of
      this Note) should collection be referred to a collection agency.  Each
      of the Lenders has the right to declare a Default without the consent of the
      other Lender.  In the event of default, all Lenders will share in any
      collections from HFF in proportion to the outstanding balances of principle
      and
      interest due under their respective Tranches.

    

    Collateral:  HFF
      agrees to pledge all assets owned by HFF, whether tangible or intangible, to
      the
      Lenders as collateral against repayment of all Tranches under this
      Note.  HFF agrees not to incumber any of their assets in any way, from
      the date of this Note until full repayment of this Note.

    

    Modification:  No
      modification or waiver of any of the terms of this Note shall be allowed unless
      by written agreement of HFF and all the Lenders.  No waiver of any
      breach of default hereunder shall be deemed a waiver of any subsequent breach
      or
      default of the same or similar nature.

    

    Severability
      of
      Provisions:  In the event that any portion of this Note is deemed
      unenforceable, all other provisions of this Note shall remain in full force
      and
      effect.

    

    Choice
      of
      Law:  All terms and conditions of this Note shall be interpreted under
      the laws of the State of Nevada.

    

    Signed
      Under
      Penalty of Perjury, this 24th day of
      October,
      2006.

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    

    
      	
              /s/
                Gregory
                R. Janson

            	
              10/24/06

            
	
              Gregory
                R.
                Janson

              President

              Healthy
                Fast
                Food, Inc.

              1075
                American
                Pacific, Suite C

              Henderson,
                NV  89074

            	
              Date

            
	 	 
	
              /s/
                Henry E.
                Cartwright

            	
              10/24/06

            
	
              Henry
                E.
                Cartwright

              13
                Dovetail
                Circle

              Henderson,
                NV  89014

              Lender

            	
              Date

            
	 	 
	
              /s/
                Ira J.
                Miller

            	
              10/24/06

            
	
              Ira
                J. Miller
                as Trustee of

              The
                Miller
                Family Trust dated July 18, 2000

              2224
                Summerwind Circle

              Henderson,
                NV  89052

            	
              Date

            

    

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    PROMISSORY
      NOTE TRANCHE (“Tranche”)

    

    This
      document
      represents a portion of the borrowing, a Tranche, under the Promissory Note
      dated October 24, 2006 (“Note”) between Healthy Fast Food, Inc. (“HFF”) and one
      of the Lenders described in the Note.

    

    Tranche
      Effective
      Date:  The date that an amount of funds are provided by the Lender to
      HFF.  This date may actually be earlier than the date of the
      Note.  Interest under this Tranche will be calculated from this date
      until all interest and principle under this Tranche is repaid in
      full.

    

    Tranche
      #:    1_________________________________________________________________

    

    Tranche
      Effective
      Date:    September 21,
      2006___________________________________

    

    Lender:    Henry
      E. Cartwright_________________________________________________

    

    Amount
      of
      Tranche:    $75,000.00______________________________________________

    

      /s/
      Henry E.
      Cartwright                                                                
10/24/06___________

    Lender
      Name                                                                                   Date

    

      /s/
      Gregory R.
      Janson_____________________________________10/24/06___________

    Gregory
      R.
      Janson                                                                             Date

    President

    Healthy
      Fast Foods,
      Inc.

    

    

    Tranche
      Repayment
      Date:    December 1,
      2006_____________________________________

    

    Number
      of Days
      Tranche
      Outstanding:    71________________________________________

    

    Interest
      on
      Tranche:    $1458.90_________________________________________________

    

      /s/
      Henry E.
      Cartwright_________________________________________________12/1/06

    Lender
      Name –
Confirms Repayment of Tranche with
      Interest                                   
Date

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    PROMISSORY
      NOTE TRANCHE (“Tranche”)

    

    This
      document
      represents a portion of the borrowing, a Tranche, under the Promissory Note
      dated October 24, 2006 (“Note”) between Healthy Fast Food, Inc. (“HFF”) and one
      of the Lenders described in the Note.

    

    Tranche
      Effective
      Date:  The date that an amount of funds are provided by the Lender to
      HFF.  This date may actually be earlier than the date of the
      Note.  Interest under this Tranche will be calculated from this date
      until all interest and principle under this Tranche is repaid in
      full.

    

    Tranche
      #:    2_____________________________________________________________

    

    Tranche
      Effective
      Date:    October 13,
      2006_____________________________________

    

    Lender:    Henry
      E. Cartwright________________________________________________

    

    Amount
      of
      Tranche:    $25,000.00_____________________________________________

    

      /s/
      Henry E.
      Cartwright___________________________________________10/24/06___

    Lender
      Name                                                                                              
   Date

    

      /s/
      Gregory R.
      Janson____________________________________________10/24/06___

    Gregory
      R.
      Janson                                                                                          Date

    President

    Healthy
      Fast Foods,
      Inc.

    

    

    Tranche
      Repayment
      Date: _________________________________________________________

    

    Number
      of Days
      Tranche Outstanding:
      _______________________________________________

    

    Interest
      on
      Tranche:  _____________________________________________________________

    

    _______________________________________________________________________________

    Lender
      Name –
Confirms Repayment of Tranche with
      Interest                                  
Date

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    PROMISSORY
      NOTE TRANCHE (“Tranche”)

    

    This
      document
      represents a portion of the borrowing, a Tranche, under the Promissory Note
      dated October 24, 2006 (“Note”) between Healthy Fast Food, Inc. (“HFF”) and one
      of the Lenders described in the Note.

    

    Tranche
      Effective
      Date:  The date that an amount of funds are provided by the Lender to
      HFF.  This date may actually be earlier than the date of the
      Note.  Interest under this Tranche will be calculated from this date
      until all interest and principle under this Tranche is repaid in
      full.

    

    Tranche
      #:    3__________________________________________________________________

    

    Tranche
      Effective
      Date:    October 31,
      2006___________________________________________

    

    Lender:    Henry
      E.
      Cartwright______________________________________________________

    

    Amount
      of
      Tranche:    $50,000.00___________________________________________________

    

      /s/
      Henry E.
      Cartwright________________________________________________12/1/06_____

    Lender
      Name                                                                                                    
   Date

    

      /s/
      Gregory R.
      Janson_________________________________________________12/1/06____

    Gregory
      R.
      Janson                                                                                             
  Date

    President

    Healthy
      Fast Foods,
      Inc.

    

    

    Tranche
      Repayment
      Date: _______________________________________________________

    

    Number
      of Days
      Tranche Outstanding: _____________________________________________

    

    Interest
      on
      Tranche:  ___________________________________________________________

    

    _____________________________________________________________________________

    Lender
      Name –
Confirms Repayment of Tranche with
      Interest                                     
Date

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    PROMISSORY
      NOTE TRANCHE (“Tranche”)

    

    This
      document
      represents a portion of the borrowing, a Tranche, under the Promissory Note
      dated October 24, 2006 (“Note”) between Healthy Fast Food, Inc. (“HFF”) and one
      of the Lenders described in the Note.

    

    Tranche
      Effective
      Date:  The date that an amount of funds are provided by the Lender to
      HFF.  This date may actually be earlier than the date of the
      Note.  Interest under this Tranche will be calculated from this date
      until all interest and principle under this Tranche is repaid in
      full.

    

    Tranche
      #:    4___________________________________________________________

    

    Tranche
      Effective
      Date:    November 14,
      2006__________________________________

    

    Lender:    Henry
      E. Cartwright_______________________________________________

    

    Amount
      of
      Tranche:    $50,000.00____________________________________________

    

      /s/
      Henry E.
      Cartwright_________________________________________12/1/06_____

    Lender
      Name                                                                                          
 Date

    

      /s/
      Gregory R.
      Janson__________________________________________12/1/06_____

    Gregory
      R.
      Janson                                                                                    Date

    President

    Healthy
      Fast Foods,
      Inc.

    

    

    Tranche
      Repayment
      Date: ___________________________________________________

    

    Number
      of Days
      Tranche Outstanding: _________________________________________

    

    Interest
      on
      Tranche:  _______________________________________________________

    

    ________________________________________________________________________

    Lender
      Name –
Confirms Repayment of Tranche with
      Interest                       
Date

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    PROMISSORY
      NOTE TRANCHE (“Tranche”)

    

    This
      document
      represents a portion of the borrowing, a Tranche, under the Promissory Note
      dated October 24, 2006 (“Note”) between Healthy Fast Food, Inc. (“HFF”) and one
      of the Lenders described in the Note.

    

    Tranche
      Effective
      Date:  The date that an amount of funds are provided by the Lender to
      HFF.  This date may actually be earlier than the date of the
      Note.  Interest under this Tranche will be calculated from this date
      until all interest and principle under this Tranche is repaid in
      full.

    

    Tranche
      #:    5_____________________________________________________________

    

    Tranche
      Effective
      Date:    December 1,
      2006____________________________________

    

    Lender:    Ira
      J.
      Miller_______________________________________________________

    

    Amount
      of
      Tranche:    $125,000.00____________________________________________

    

      /s/
      Ira J.
      Miller_________________________________________________12/1/06_____

    Lender
      Name                                                                                          
   Date

    

      /s/
      Gregory R.
      Janson___________________________________________12/1/06_____

    Gregory
      R.
      Janson                                                                                      Date

    President

    Healthy
      Fast Foods,
      Inc.

    

    

    Tranche
      Repayment
      Date: ____________________________________________________

    

    Number
      of Days
      Tranche Outstanding: __________________________________________

    

    Interest
      on
      Tranche:  ________________________________________________________

    

    __________________________________________________________________________

    Lender
      Name –
Confirms Repayment of Tranche with
      Interest                              
Date

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