Document:

MITEK
      SYSTEMS, INC.

    2006
      STOCK OPTION PLAN

    

    1. PURPOSE.
      This
      Stock Option Plan (the "Plan") is intended to serve as an incentive to, and
      to
      encourage stock ownership by certain eligible participants rendering services
      to
      Mitek Systems, Inc., a Delaware corporation, and certain affiliates as set
      forth
      below (the "Corporation"), so that they may acquire or increase their
      proprietary interest in the Corporation and to encourage them to remain in
      the
      service of the Corporation.

    

    2. ADMINISTRATION.

    

    2.1 Committee.
      The
      Plan shall be administered by the Board of Directors of the Corporation (the
      "Board of Directors"), or a committee of two or more members appointed by the
      Board of Directors (the "Committee") who are Non-Employee Directors as defined
      in Rule 16b-3 promulgated under Section 16 of the Securities Exchange Act
      of 1934 and an outside director as defined in Treasury Regulation
§ 1.162-27(e)(3). If a Committee is appointed, it shall select one of its
      members as Chairman and shall appoint a Secretary, who need not be a member
      of
      the Committee. The Committee shall hold meetings at such times and places as
      it
      may determine and minutes of such meetings shall be recorded. Acts by a majority
      of the Committee in a meeting at which a quorum is present and acts approved
      in
      writing by a majority of the members of the Committee shall be valid acts of
      the
      Committee.

    

    2.2 Term.
      If the
      Board of Directors selects a Committee, the members of the Committee shall
      serve
      on the Committee for the period of time determined by the Board of Directors
      and
      shall be subject to removal by the Board of Directors at any time. The Board
      of
      Directors may terminate the function of the Committee at any time and resume
      all
      powers and authority previously delegated to the Committee.

    

    2.3 Authority.
      The
      Committee shall have sole discretion and authority to grant options under the
      Plan to eligible participants rendering services to the Corporation or any
      "parent" or "subsidiary" of the Corporation, as defined in Section 424 of
      the Internal Revenue Code of 1986, as amended (the "Code") ("Parent or
      Subsidiary"), at such times, under such terms and in such amounts as it may
      decide. For purposes of this Plan and any Stock Option Agreement (as defined
      below), the term "Corporation" shall include any Parent or Subsidiary, if
      applicable. Subject to the express provisions of the Plan, the Committee shall
      have complete authority to interpret the Plan, to prescribe, amend and rescind
      the rules and regulations relating to the Plan, to determine the details and
      provisions of any Stock Option Agreement, to accelerate any options granted
      under the Plan and to make all other determinations necessary or advisable
      for
      the administration of the Plan.

    

    2.4 Type
      of Option.
      The
      Committee shall have full authority and discretion to determine, and shall
      specify, whether the eligible individual will be granted options intended to
      qualify as incentive options under Section 422 of the Code ("Incentive
      Options") or options which are not intended to qualify under Section 422 of
      the Code ("Non-Qualified Options"); provided, however, that Incentive Options
      shall only be granted to employees of the Corporation, or a Parent or Subsidiary
      thereof, and shall be subject to the special limitations set forth herein
      attributable to Incentive Options.

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    2.5 Interpretation.
      The
      interpretation and construction by the Committee of any provisions of the Plan
      or of any option granted under the Plan shall be final and binding on all
      parties having an interest in this Plan or any option granted hereunder. No
      member of the Committee shall be liable for any action or determination made
      in
      good faith with respect to the Plan or any option granted under the
      Plan.

    

    3. ELIGIBILITY.

    

    3.1 General.
      All
      directors, officers, employees of and consultants to the Corporation, or any
      Parent or Subsidiary relative to the Corporation's, or any Parent's or
      Subsidiary's management, operation or development shall be eligible to receive
      options under the Plan. The selection of recipients of options shall be within
      the sole and absolute discretion of the Committee. No person shall be granted
      an
      Incentive Option under this Plan unless such person is an employee of the
      Corporation, or a Parent or Subsidiary on the date of grant. No person shall
      be
      granted an option under this Plan unless such person has executed, if requested
      by the Committee, the grant representation letter set forth on Exhibit "A,"
      as such Exhibit may be amended by the Committee from time to time. No
      person shall be granted more than 500,000 options in any one-year
      period.

    

    3.2 Termination
      of Eligibility.

    

    3.2.1 If
      an
      optionee ceases to be employed by the Corporation, or its Parent or Subsidiary,
      is no longer an officer or member of the Board of Directors of the Corporation,
      or no longer performs services for the Corporation, or its Parent or Subsidiary,
      for any reason (other than for "cause," as hereinafter defined, or such
      optionee's death), any option granted hereunder to such optionee shall expire
      three months after the occurrence giving rise to such termination of eligibility
      (or 1 year in the event an optionee is "disabled," as defined in
      Section 22(e)(3) of the Code) or upon the date it expires by its
      terms, whichever is earlier. Any option that has not vested in the optionee
      as
      of the date of such termination shall immediately expire and shall be null
      and
      void. The Committee shall, in its sole and absolute discretion, decide,
      utilizing the provisions set forth in Treasury Regulations § 1.421-7(h),
      whether an authorized leave of absence or absence for military or governmental
      service, or absence for any other reason, shall constitute termination of
      eligibility for purposes of this Section.

    

    3.2.2 If
      an
      optionee ceases to be employed by the Corporation, or its Parent or Subsidiary,
      is no longer an officer or member of the Board of Directors of the Corporation,
      or no longer performs services for the Corporation, or its Parent or Subsidiary,
      and such termination is as a result of "cause," as hereinafter defined, then
      all
      options granted hereunder to such optionee shall expire on the date of the
      occurrence giving rise to such termination of eligibility or upon the date
      it
      expires by its terms, whichever is earlier, and such optionee shall have no
      rights with respect to any unexercised options. For purposes of this Plan,
      "cause" shall mean an optionee's personal dishonesty, misconduct, breach of
      fiduciary duty, incompetence, intentional failure to perform stated obligations,
      willful violation of any law, rule, regulation or final cease and desist order,
      or any material breach of any provision of this Plan, any Stock Option Agreement
      or any employment agreement.

    

    
      
        
        

      

      
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    3.3 Death
      of Optionee and Transfer of Option.
      In the
      event an optionee shall die, an option may be exercised (subject to the
      condition that no option shall be exercisable after its expiration and only
      to
      the extent that the optionee's right to exercise such option had accrued at
      the
      time of the optionee's death) at any time within six months after the optionee's
      death by the executors or administrators of the optionee or by any person or
      persons who shall have acquired the option directly from the optionee by bequest
      or inheritance. Any option that has not vested in the optionee as of the date
      of
      death or termination of employment, whichever is earlier, shall immediately
      expire and shall be null and void. No option shall be transferable by the
      optionee other than by will or the laws of intestate succession.

    

    3.4 Limitation
      on Incentive Options.
      No
      person shall be granted any Incentive Option to the extent that the aggregate
      fair market value of the Stock (as defined below) to which such options are
      exercisable for the first time by the optionee during any calendar year (under
      all plans of the Corporation as determined under Section 422(d) of the
      Code) exceeds $100,000.

    

    4. IDENTIFICATION
      OF STOCK.
      The
      Stock, as defined herein, subject to the options shall be shares of the
      Corporation's authorized but unissued or acquired or reacquired common stock
      (the "Stock"). The aggregate number of shares subject to outstanding options
      shall not exceed 1,000,000 shares of Stock (subject to adjustment as provided
      in
      Section 6). If any option granted hereunder shall expire or terminate for
      any reason without having been exercised in full, the unpurchased shares subject
      thereto shall again be available for purposes of this Plan. Notwithstanding
      the
      above, at no time shall the total number of shares of Stock issuable upon
      exercise of all outstanding options and the total number of shares of Stock
      provided for under any stock bonus or similar plan of the Corporation exceed
      30%
      as calculated in accordance with the conditions and exclusions of §260.140.45 of
      Title 10, California Code of Regulations, based on the shares of the issuer
      which are outstanding at the time the calculation is made. 

    

    5. TERMS
      AND CONDITIONS OF OPTIONS.
      Any
      option granted pursuant to the Plan shall be evidenced by an agreement ("Stock
      Option Agreement") in such form as the Committee shall from time to time
      determine, which agreement shall comply with and be subject to the following
      terms and conditions:

    

    5.1 Number
      of Shares.
      Each
      option shall state the number of shares of Stock to which it
      pertains.

    

    5.2 Option
      Exercise Price.
      Each
      option shall state the option exercise price, which shall be determined by
      the
      Committee; provided, however, that (i) the exercise price of any Incentive
      Option shall not be less than the fair market value of the Stock, as determined
      by the Committee, on the date of grant of such option, (ii) the exercise
      price of any option granted to any person who owns more than 10% of the total
      combined voting power of all classes of the Corporation's stock, as determined
      for purposes of Section 422 of the Code, shall not be less than 110% of the
      fair market value of the Stock, as determined by the Committee, on the date
      of
      grant of such option, and (iii) the exercise price of any Non-Qualified
      Option shall not be less than 85% of the fair market value of the Stock, as
      determined by the Committee, on the date of grant of such option. In the event
      that the fair market value of the price of the common stock declines below
      the
      price at which the option is granted, the Committee shall have the discretion
      and authority to cancel, reduce, or otherwise modify the price of any
      unexercised option, including, but not limited to, a regrant of the option
      at a
      new price more commensurate with the fair market value of the stock. The
      Committee must receive the approval of the Board of Directors before any action
      is taken in accordance with this provision.

    

    
      
        
        

      

      
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    5.3 Term
      of Option.
      The
      term of an option granted hereunder shall be determined by the Committee at
      the
      time of grant, but shall not exceed ten years from the date of the grant. The
      term of any Incentive Option granted to an employee who owns more than 10%
      of
      the total combined voting power of all classes of the Corporation's stock,
      as
      determined for purposes of Section 422 of the Code, shall in no event
      exceed five years from the date of grant. All options shall be subject to early
      termination as set forth in this Plan. In no event shall any option be
      exercisable after the expiration of its term.

    

    5.4 Method
      of Exercise.
      An
      option shall be exercised by written notice to the Corporation by the optionee
      (or successor in the event of death) and execution by the optionee of an
      exercise representation letter in the form set forth on Exhibit "B," as
      such Exhibit may be amended by the Committee from time to time. Such
      written notice shall state the number of shares with respect to which the option
      is being exercised and designate a time, during normal business hours of the
      Corporation, for the delivery thereof ("Exercise Date"), which time shall be
      at
      least 30 days after the giving of such notice unless an earlier date shall
      have
      been mutually agreed upon. At the time specified in the written notice, the
      Corporation shall deliver to the optionee at the principal office of the
      Corporation, or such other appropriate place as may be determined by the
      Committee, a certificate or certificates for such shares. Notwithstanding the
      foregoing, the Corporation may postpone delivery of any certificate or
      certificates after notice of exercise for such reasonable period as may be
      required to comply with any applicable listing requirements of any securities
      exchange. In the event an option shall be exercisable by any person other than
      the optionee, the required notice under this Section shall be accompanied
      by appropriate proof of the right of such person to exercise the
      option.

    

    5.5 Medium
      and Time of Payment.
      The
      option exercise price shall be payable in full on or before the option Exercise
      Date in any one of the following alternative forms:

    

    5.5.1 Full
      payment in cash or certified bank or cashier's check;

    

    5.5.2 Subject
      to Section 5.5.7 hereof, a Promissory Note (as defined below);

    

    5.5.3 Full
      payment in shares of Stock having a fair market value on the Exercise Date
      in
      the amount equal to the option exercise price;

    

    5.5.4 Subject
      to Section 5.5.7 hereof, through a special sale and remittance procedure
      pursuant to which the optionee shall concurrently provide irrevocable written
      instruction to (a) a Corporation-designated brokerage firm to effect the
      immediate sale of the purchased shares and remit to the Corporation, out of
      the
      sale proceeds available on the settlement date pursuant to an irrevocable
      assignment by the optionee, sufficient funds to cover the aggregate exercise
      price payable for the purchased shares plus all applicable Federal, state and
      local income and employment taxes required to be withheld by the Corporation
      by
      reason of such exercise and (b) the Corporation to deliver the certificates
      for the purchased shares directly to such brokerage firm in order to complete
      the sale.

    

    
      
        
        

      

      
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    5.5.5 A
      combination of the consideration set forth in Sections 5.5.1, through 5.5.4
      equal to the option exercise price; or

    

    5.5.6 Any
      other
      method of payment complying with the provisions of Section 422 of the Code
      with respect to Incentive Options, provided the terms of payment are established
      by the Committee at the time of grant and any other method of payment
      established by the Committee with respect to Non-Qualified Options.

    

    5.5.7 Notwithstanding
      the foregoing, the methods of payment described in Section 5.5.2 and Section
      5.5.4 shall not be available to any optionee classified as "a director or
      executive officer (or equivalent thereof)" within the meaning of Section 402
      of
      the Sarbanes-Oxley Act of 2002 ("Sarbanes-Oxley") at the time of the exercise,
      unless such optionee provides to the Corporation a written opinion of counsel
      satisfactory to the Corporation that the proposed medium of payment is not
      prohibited by Sarbanes-Oxley.

    

    5.6 Fair
      Market Value.
      The
      fair market value of a share of Stock on any relevant date shall be determined
      in accordance with the following provisions:

    

    5.6.1 If
      the
      Stock at the time is neither listed nor admitted to trading on any stock
      exchange nor traded in the over-the-counter market, then the fair market value
      shall be determined by the Committee after taking into account the factors
      found
      in § 260.140.50 of Title 10, California Code of Regulations and such other
      factors as the Committee shall deem appropriate.

    

    5.6.2 If
      the
      Stock is not at the time listed or admitted to trading on any stock exchange
      but
      is traded in the over-the-counter market, the fair market value shall be the
      mean between the highest bid and lowest asked prices (or, if such information
      is
      available, the closing selling price) of one share of Stock on the date in
      question in the over-the-counter market, as such prices are reported by the
      National Association of Securities Dealers through its NASDAQ system or any
      successor system. If there are no reported bid and asked prices (or closing
      selling price) for the Stock on the date in question, then the mean between
      the
      highest bid and lowest asked prices (or the closing selling price) on the last
      preceding date for which such quotations exist shall be determinative of fair
      market value.

    

    5.6.3 If
      the
      Stock is at the time listed or admitted to trading on any stock exchange, then
      the fair market value shall be the closing selling price of one share of Stock
      on the date in question on the stock exchange determined by the Committee to
      be
      the primary market for the Stock, as such price is officially quoted in the
      composite tape of transactions on such exchange. If there is no sale of Stock
      on
      such exchange on the date in question, then the fair market value shall be
      the
      closing selling price on the exchange on the last preceding date for which
      such
      quotation exists.

    

    
      
        
        

      

      
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    5.7 Promissory
      Note.
      Subject
      to the requirements of applicable state or Federal law or margin requirements,
      payment of all or part of the purchase price of the Stock may be made by
      delivery of a full recourse promissory note ("Promissory Note"). The Promissory
      Note shall be executed by the optionee, made payable to the Corporation and
      bear
      interest at such rate as the Committee shall determine, but in no case less
      than
      the minimum rate which will not cause under the Code (i) interest to be
      imputed, (ii) original issue discount to exist, or (iii) any other
      similar results to occur. Unless otherwise determined by the Committee, interest
      on the Note shall be payable in quarterly installments on March 31,
      June 30, September 30 and December 31 of each year. A Promissory
      Note shall contain such other terms and conditions as may be determined by
      the
      Committee; provided, however, that the full principal amount of the Promissory
      Note and all unpaid interest accrued thereon shall be due not later than five
      years from the date of exercise. The Corporation may obtain from the optionee
      a
      security interest in all shares of Stock issued to the optionee under the Plan
      for the purpose of securing payment under the Promissory Note and may retain
      possession of the stock certificates representing such shares in order to
      perfect its security interest.

    

    5.8 Rights
      as a Shareholder.
      An
      optionee or successor shall have no rights as a shareholder with respect to
      any
      Stock underlying any option until the date of the issuance to such optionee
      of a
      certificate for such Stock. No adjustment shall be made for dividends (ordinary
      or extraordinary, whether in cash, securities or other property) or
      distributions or other rights for which the record date is prior to the date
      such Stock certificate is issued, except as provided in
      Section 6.

    

    5.9 Modification,
      Extension and Renewal of Options.
      Subject
      to the terms and conditions of the Plan, the Committee may modify, extend or
      renew outstanding options granted under the Plan, or accept the surrender of
      outstanding options (to the extent not exercised) and authorize the granting
      of
      new options in substitution therefor.

    

    5.10 Vesting
      and Restrictions.
      The
      Committee shall have complete authority and discretion to set the terms,
      conditions, restrictions, vesting schedules and other provisions of any option
      in the applicable Stock Option Agreement and shall have complete authority
      to
      require conditions and restrictions on any Stock issued pursuant to this Plan;
      provided, however, that except with respect to options granted to officers
      or
      directors of the Corporation, options granted pursuant to this Plan shall be
      exercisable or "vest" at the rate of at least 20% per year over the 5-year
      period beginning on the date the option is granted. Options granted to officers
      and directors shall become exercisable or "vest," subject to subject to the
      condition of continued employment and/or continued service on the Board of
      Directors, as appropriate. The maximum vesting period for options granted to
      officers or directors will be ten years from the date of grant.

    

    5.11 Other
      Provisions.
      The
      Stock Option Agreements shall contain such other provisions, including without
      limitation, restrictions or conditions upon the exercise of options, as the
      Committee shall deem advisable.

    

    6. ADJUSTMENTS
      UPON CHANGES IN CAPITALIZATION.

    

    6.1 Subdivision
      or Consolidation.
      Subject
      to any required action by shareholders of the Corporation, the number of shares
      of Stock covered by each outstanding option, and the exercise price thereof,
      shall be proportionately adjusted for any increase or decrease in the number
      of
      issued shares of Stock of the Corporation resulting from a subdivision or
      consolidation of shares, including, but not limited to, a stock split, reverse
      stock split, recapitalization, continuation or reclassification, or the payment
      of a stock dividend (but only on the Stock) or any other increase or decrease
      in
      the number of such shares effected without receipt of consideration by the
      Corporation. Any fraction of a share subject to option that would otherwise
      result from an adjustment pursuant to this Section shall be rounded
      downward to the next full number of shares without other compensation or
      consideration to the holder of such option.

    

    
      
        
        

      

      
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    6.2 Capital
      Transactions.
      Upon a
      sale or exchange of all or substantially all of the assets of the Corporation,
      a
      merger or consolidation in which the Corporation is not the surviving
      corporation, a merger, reorganization or consolidation in which the Corporation
      is the surviving corporation and shareholders of the Corporation exchange their
      stock for securities or property, a liquidation of the Corporation, or similar
      transaction as determined by the Committee ("Capital Transaction"), this Plan
      and each option issued under this Plan, whether vested or unvested, shall
      terminate, unless such options are assumed by a successor corporation in a
      merger or consolidation, immediately prior to such Capital Transaction;
      provided, however, that unless the outstanding options are assumed by a
      successor corporation in a merger or consolidation, subject to terms approved
      by
      the Committee, all optionees will have the right, during the 15 days prior
      to
      such Capital Transaction, to exercise all vested options. The Corporation shall,
      subject to any nondisclosure provisions, attempt to provide optionees at least
      15 days notice of the option termination date. The Committee may (but shall
      not
      be obligated to) (i) accelerate the vesting of any option or
      (ii) apply the foregoing provisions, including but not limited to
      termination of this Plan and options granted pursuant to the Plan, in the event
      there is a sale of 51% or more of the stock of the Corporation in any two year
      period or a transaction similar to a Capital Transaction.

    

    6.3 Adjustments.
      To the
      extent that the foregoing adjustments relate to stock or securities of the
      Corporation, such adjustments shall be made by the Committee, whose
      determination in that respect shall be final, binding and
      conclusive.

    

    6.4 Ability
      to Adjust.
      The
      grant of an option pursuant to the Plan shall not affect in any way the right
      or
      power of the Corporation to make adjustments, reclassifications, reorganizations
      or changes of its capital or business structure or to merge, consolidate,
      dissolve, liquidate, sell or transfer all or any part of its business or
      assets.

    

    6.5 Notice
      of Adjustment.
      Whenever
      the Corporation shall take any action resulting in any adjustment provided
      for
      in this Section, the Corporation shall forthwith deliver notice of such action
      to each optionee, which notice shall set forth the number of shares subject
      to
      the option and the exercise price thereof resulting from such
      adjustment.

    

    6.6 Limitation
      on Adjustments.
      Any
      adjustment, assumption or substitution of an Incentive Option shall comply
      with
      Section 425 of the Code, if applicable.

    

    7. NONASSIGNABILITY.
      Options
      granted under this Plan may not be sold, pledged, assigned or transferred in
      any
      manner other than by will or by the laws of intestate succession, and may be
      exercised during the lifetime of an optionee only by such optionee. Any transfer
      in violation of this Section shall void such option, and any Stock Option
      Agreement entered into by the optionee and the Corporation regarding such
      transferred option shall be void and have no further force or effect. No option
      shall be pledged or hypothecated in any way, nor shall any option be subject
      to
      execution, attachment or similar process.

    

    
      
        
        

      

      
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    8. NO
      RIGHT OF EMPLOYMENT.
      Neither
      the grant nor exercise of any option nor anything in this Plan shall impose
      upon
      the Corporation or any other corporation any obligation to employ or continue
      to
      employ any optionee. The right of the Corporation and any other corporation
      to
      terminate any employee shall not be diminished or affected because an option
      has
      been granted to such employee.

    

    9. TERM
      OF PLAN.
      This
      Plan is effective on the date the Plan is adopted by the Board of Directors
      and
      options may be granted pursuant to the Plan from time to time within a period
      of
      ten (10) years from such date, or the date of any required shareholder approval
      required under the Plan, if earlier. Termination of the Plan shall not affect
      any option theretofore granted.

    

    10. AMENDMENT
      OF THE PLAN.
      The
      Board of Directors of the Corporation may, subject to any required shareholder
      approval, suspend, discontinue or terminate the Plan, or revise or amend it
      in
      any respect whatsoever with respect to any shares of Stock at that time not
      subject to options.

    

    11. APPLICATION
      OF FUNDS.
      The
      proceeds received by the Corporation from the sale of Stock pursuant to options
      may be used for general corporate purposes.

    

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

    

    13. NO
      OBLIGATION TO EXERCISE OPTION.
      The
      granting of an option shall not impose any obligation upon the optionee to
      exercise such option.

    

    14. APPROVAL
      OF BOARD OF DIRECTORS AND SHAREHOLDERS.
      The
      Plan shall not take effect until approved by the Board of Directors of the
      Corporation. This Plan shall be approved by a vote of the shareholders within
      12
      months from the date of approval by the Board of Directors. In the event such
      shareholder vote is not obtained, all options granted hereunder, whether vested
      or unvested, shall be null and void. Further, any stock acquired pursuant to
      the
      exercise of any options under this Agreement may not count for purposes of
      determining whether shareholder approval has been obtained.

    

    15. WITHHOLDING
      TAXES.
      Notwithstanding anything else to the contrary in this Plan or any Stock Option
      Agreement, the exercise of any option shall be conditioned upon payment by
      such
      optionee in cash, or other provisions satisfactory to the Committee, of all
      local, state, federal or other withholding taxes applicable, in the Committee's
      judgment, to the exercise or to later disposition of shares acquired upon
      exercise of an option.

    

    16. PARACHUTE
      PAYMENTS.
      Any
      outstanding option under the Plan may not be accelerated to the extent any
      such
      acceleration of such option would, when added to the present value of other
      payments in the nature of compensation which becomes due and payable to the
      optionee would result in the payment to such optionee of an excess parachute
      payment under Section 280G of the Code. The existence of any such excess
      parachute payment shall be determined in the sole and absolute discretion of
      the
      Committee.

    

    
      
        
        

      

      
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    17. SECURITIES
      LAWS COMPLIANCE.
      Notwithstanding anything contained herein, the Corporation shall not be
      obligated to grant any option under this Plan or to sell, issue or effect any
      transfer of any Stock unless such grant, sale, issuance or transfer is at such
      time effectively (i) registered or exempt from registration under the
      Securities Act of 1933, as amended (the "Act"), and (ii) qualified or
      exempt from qualification under the California Corporate Securities Law of
      1968
      and any other applicable state securities laws. As a condition to exercise
      of
      any option, each optionee shall make such representations as may be deemed
      appropriate by counsel to the Corporation for the Corporation to use any
      available exemption from registration under the Act or qualification under
      any
      applicable state securities law.

    

    18. RESTRICTIVE
      LEGENDS.
      The
      certificates representing the Stock issued upon exercise of options granted
      pursuant to this Plan will bear any legends required by applicable securities
      laws as determined by the Committee.

    

    19. NOTICES.
      Any
      notice to be given under the terms of the Plan shall be addressed to the
      Corporation in care of its Secretary at its principal office, and any notice
      to
      be given to an optionee shall be addressed to such optionee at the address
      maintained by the Corporation for such person or at such other address as the
      optionee may specify in writing to the Corporation.

    

    20. INFORMATION
      TO PARTICIPANTS.
      The
      Corporation shall make available to all holders of options the information
      required pursuant to § 260.140.46 of the California Code of
      Regulations.

    

    
      
        
        

      

      
        9

        
          

        

      

      
        
        

      

    

    

    EXHIBIT A

    

    

    ____________,
      200__

    

    

    Mitek
      Systems, Inc.

    8911
      Balboa Ave, Suite B 

    San
      Diego, CA 92123

    

    
      	
            	Re:	
              2006
                Stock Option Plan

            

    

    

    To
      Whom
      It May Concern:

    

    This
      letter is delivered to Mitek Systems, Inc., a Delaware corporation (the
      "Corporation"), in connection with the grant to     
      (the
      "Optionee") of an option (the "Option") to purchase   
      shares
      of common stock of the Corporation (the "Stock") pursuant to the Mitek Systems,
      Inc. 2006 Stock Option Plan (the "Plan"). The Optionee understands that the
      Corporation's receipt of this letter executed by the Optionee is a condition
      to
      the Corporation's willingness to grant the Option to the Optionee.

    

    The
      Optionee acknowledges that the grant of the Option by the Corporation is in
      lieu
      of any and all other promises of the Corporation to the Optionee, whether
      written or oral, express or implied, regarding the grant of options or other
      rights to acquire Stock. Accordingly, in anticipation of the grant of the
      Option, the Optionee hereby relinquishes all rights to such other rights, if
      any, to acquire stock of the Corporation.

    

    In
      addition, the Optionee makes the following representations and warranties with
      the understanding that the Corporation will rely upon them.

    

    1. The
      Optionee acknowledges receipt of a copy of the Plan and Agreement. The Optionee
      has carefully reviewed the Plan and Agreement.

    

    2. The
      Optionee acknowledges receipt of a prospectus regarding the Plan which includes
      the information required by Section (a)(1) of Rule 428 under the
      Securities Act of 1933.

    

    3. The
      Optionee understands and acknowledges that the Option and the Stock are subject
      to the terms and conditions of the Plan.

    

    4. The
      Optionee understands and agrees that, at the time of exercise of any part of
      the
      Option for Stock, the Optionee may be required to provide the Corporation with
      additional representations, warranties and/or covenants similar to those
      contained in this letter. 

    

    5. The
      Optionee is a resident of the State of __________________________.

    

    
      
        
        

      

      
        EXHIBIT
          A-
          Page 1

        
          

        

      

      
        
        

      

    

    6. The
      Optionee will notify the Corporation immediately of any change in the above
      information which occurs before the Option is exercised in full by the
      Optionee.

    

    The
      foregoing representations and warranties are given on ___________________,
      2006
      at ____________________.

     

    
      	 	
              OPTIONEE:

            

    

    
 

    
      
        
        

      

      
        EXHIBIT
          A-
          Page 2

        
          

        

      

      
        
        

      

    

     

    EXHIBIT B

    

    

    ____________,
      200__

    

    

    Mitek
      Systems, Inc.

    8911
      Balboa Ave, Suite B 

    San
      Diego, CA 92123

    

    
      	
            	Re:	
              2006
                Stock Option Plan

            

    

    

    To
      Whom
      It May Concern:

    

    I
      (the
      "Optionee") hereby exercise my right to purchase   
      shares
      of common stock (the "Stock") of Mitek Systems, Inc., a Delaware corporation
      (the "Corporation"), pursuant to, and in accordance with, the Mitek Systems,
      Inc. 2006 Stock Option Plan dated ____________________, 2006 (the "Plan") and
      Stock Option Agreement (the "Agreement") dated ______________________, 2006.
      As
      provided in such Plan, I deliver herewith payment as set forth in the Plan
      in
      the amount of the aggregate option exercise price. Please deliver to me at
      my
      address as set forth above stock certificates representing the subject shares
      registered in my name (and (spouse)
      ,
      as
(style
      of vesting) ).

    

    The
      Optionee hereby represents and agrees as follows:

    

    1. The
      Optionee acknowledges receipt of a copy of the Plan and Agreement. The Optionee
      has carefully reviewed the Plan and Agreement.

    

    2. The
      Optionee is a resident of the State of __________.

    

    3. The
      Optionee represents and agrees that if the Optionee is an "affiliate" (as
      defined in Rule 144 under the Securities Act of 1933) of the Corporation at
      the
      time the Optionee desires to sell any of the Stock, the Optionee will be subject
      to certain restrictions under, and will comply with all of the requirements
      of,
      applicable federal and state securities laws.

    

    The
      foregoing representations and warranties are given on
      ___________________________ at ______________________.

    

    
      	 	
              OPTIONEE:

            

    

     

     

    
      
        
        

      

      
        EXHIBIT
          B - Page 1Exhibit
      4.15

     

    THE
      SECURITIES ISSUABLE UPON EXERCISE OF THIS WARRANT HAVE NOT BEEN REGISTERED
      UNDER
      THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), AND HAVE BEEN ACQUIRED FOR
      INVESTMENT AND NOT WITH A VIEW TO, OR IN CONNECTION WITH, THE SALE OR
      DISTRIBUTION THEREOF. NO SUCH SALE, PLEDGE OR OTHER DISTRIBUTION MAY BE EFFECTED
      WITHOUT AN EFFECTIVE REGISTRATION STATEMENT RELATED THERETO OR AN OPINION OF
      COUNSEL IN A FORM SATISFACTORY TO THE COMPANY THAT SUCH REGISTRATION IS NOT
      REQUIRED UNDER THE ACT.

     

    
      	
              Warrant
                No. ___

            	
              Number
                of Shares: __________

            
	
              Date
                of Issuance: __________________

            	
              (subject
                to adjustment)

            

    

    

    Ignis
      Petroleum Group, Inc.

    

    Common
      Stock Purchase Warrant

    

    Ignis
      Petroleum Group, Inc., a Nevada corporation (the “Company”),
      for
      value received, hereby certifies that Petrofinanz GmbH, a Marshall Islands
      company, or its registered and permitted assigns (the “Registered
      Holder”),
      is
      entitled, subject to the terms set forth below, to purchase from the Company,
      at
      any time after the date hereof and on or before the Expiration Date (as defined
      in Section 3
      below),
      up to __________
      shares
      (as adjusted from time to time pursuant to the provisions of this Warrant)
      of
      Common Stock, par value $0.001 per share, of
      the
      Company (the “Common
      Stock”),
      at a
      purchase price of ________
      per share.
      The
      shares purchasable upon exercise of this Warrant and the purchase price per
      share, as adjusted from time to time pursuant to the provisions of this Warrant,
      are sometimes hereinafter referred to as the “Warrant
      Shares”
and
      the
“Purchase
      Price,”
      respectively.

     

    1. Exercise.

     

    a. Manner
      of Exercise.
      This
      Warrant may be exercised only in whole by the Registered Holder, or, upon the
      approval of the Board of Directors of the Company, may be exercised in part
      by
      the Registered Holder, by surrendering this Warrant, with the purchase/exercise
      form appended hereto as Exhibit A
      duly
      executed by such Registered Holder or by such Registered Holder’s duly
      authorized attorney-in-fact, at the principal office of the Company, or at
      such
      other office or agency as the Company may designate, accompanied by payment
      in
      full of the Purchase Price payable in respect of the number of Warrant Shares
      purchased upon such exercise. The Purchase Price may be paid by cash, check,
      wire transfer or, upon approval of the Board of Directors of the Company, by
      the
      surrender of promissory notes or other instruments representing indebtedness
      of
      the Company to the Registered Holder.

     

    b. Effective
      Time of Exercise.
      Each
      exercise of this Warrant shall be deemed to have been effected immediately
      prior
      to the close of business on the day on which this Warrant shall have been
      surrendered to the Company as provided in Section l(a)
      above.
      At such time, the person or persons in whose name or names any certificates
      for
      Warrant Shares shall be issuable upon such exercise as provided in Section l(c)
      below
      shall be deemed to have become the holder or holders of record of the Warrant
      Shares represented by such certificates.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    c. Delivery
      to Holder.
      As soon
      as practicable after the exercise of this Warrant in whole or, if applicable,
      in
      part, and in any event within ten (10) business days thereafter, the Company
      at
      its expense will cause to be issued in the name of, and delivered to, the
      Registered Holder, or as such Registered Holder may direct (upon payment by
      such
      Registered Holder of any applicable transfer taxes): (i) a certificate or
      certificates for the number of Warrant Shares to which such Registered Holder
      shall be entitled; and (ii) in case such exercise is in part only, a new
      warrant or warrants (dated the date hereof) of like tenor, calling in the
      aggregate on the face or faces thereof for the number of shares of Warrant
      Shares equal to the number of such shares called for on the face of this Warrant
      minus the number of such shares purchased by the Registered Holder upon such
      exercise, and all previous exercises, as provided in Section 1(a)
      above.

     

    2. Transfers.

     

    a. Unregistered
      Security.
      The
      holder of this Warrant acknowledges that this Warrant and the Warrant Shares
      have not been registered under the Securities Act of 1933, as amended (the
      “Securities
      Act”),
      and
      agrees not to sell, pledge, distribute, offer for sale, transfer or otherwise
      dispose of this Warrant or any Warrant Shares issued upon its exercise in the
      absence of (i) an effective registration statement under the Securities Act
      as to this Warrant or such Warrant Shares and registration or qualification
      of
      this Warrant or such Warrant Shares under any applicable U.S. federal or state
      securities law then in effect, or (ii) an opinion of counsel, reasonably
      satisfactory to the Company, that such registration and qualification are not
      required. Each certificate or other instrument for Warrant Shares issued upon
      the exercise of this Warrant shall bear a legend substantially similar to the
      foregoing effect.

     

    b. Transferability.
      Subject
      to the provisions of Section 2(a)
      hereof,
      the Registered Holder may make sales or other transfers of this Warrant and
      the
      Warrant Shares. 

     

    c. Warrant
      Register.
      The
      Company will maintain a register containing the names and addresses of the
      Registered Holders of this Warrant. Any Registered Holder may change such
      Registered Holder’s address as shown on the warrant register by written notice
      to the Company requesting such change.

     

    3. Expiration.
      This
      Warrant (and the right to purchase securities upon exercise hereof) shall expire
      upon _____________ (the “Expiration
      Date”).

     

    4. Notices
      of Certain Transactions.
      In
      case:

     

    a. the
      Company shall take a record of the holders of its Common Stock (or other stock
      or securities at the time deliverable upon the exercise of this Warrant) for
      the
      purpose of entitling or enabling them to receive any dividend or other
      distribution, or to receive any right to subscribe for or purchase any shares
      of
      stock of any class or any other securities, or to receive any other right,
      to
      subscribe for or purchase any shares of stock of any class or any other
      securities, or to receive any other right, or

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    b. of
      any
      capital reorganization of the Company, any reclassification of the capital
      stock
      of the Company, any consolidation or merger of the Company with or into another
      corporation (other than a consolidation or merger in which the Company is the
      surviving entity), or any transfer of all or substantially all of the assets
      of
      the Company, or

     

    c. of
      the
      voluntary or involuntary dissolution, liquidation or winding-up of the Company,
      

     

    then,
      and
      in each such case, the Company will mail or cause to be mailed to the Registered
      Holder of this Warrant a notice specifying, as the case may be, (i) the
      date on which a record is to be taken for the purpose of such dividend,
      distribution or right, and stating the amount and character of such dividend,
      distribution or right, or (ii) the effective date on which such
      reorganization, reclassification, consolidation, merger, transfer, dissolution,
      liquidation or winding-up is reasonably expected to take place, and the time,
      if
      any is to be fixed, as of which the holders of record of Common Stock (or such
      other stock or securities at the time deliverable upon such reorganization,
      reclassification, consolidation, merger, transfer, dissolution, liquidation
      or
      winding-up) are to be determined. Such notice shall be mailed at least fifteen
      (15) days prior to the record date or effective date, as the case may be, for
      the event specified in such notice.

     

    5. Reservation
      of Stock.
      The
      Company will at all times reserve and keep available, solely for the issuance
      and delivery upon the exercise of this Warrant, such shares of Warrant Shares
      and other stock, securities and property, as from time to time shall be issuable
      upon the exercise of this Warrant.

     

    6. Exchange
      of Warrants.
      Upon
      the surrender by the Registered Holder of any Warrant or Warrants, properly
      endorsed, to the Company at the principal office of the Company, the Company
      will, subject to the provisions of Section 2
      hereof,
      issue and deliver to or upon the order of such Registered Holder, at the
      Company’s expense, a new Warrant or Warrants of like tenor, in the name of such
      Registered Holder or as such Registered Holder (upon payment by such Registered
      Holder of any applicable transfer taxes) may direct, calling in the aggregate
      on
      the face or faces thereof for the number of shares of Common Stock called for
      on
      the face or faces of the Warrant or Warrants so surrendered.

     

    7.  Replacement
      of Warrants.
      Upon
      receipt of evidence reasonably satisfactory to the Company of the loss, theft,
      destruction or mutilation of this Warrant and (in the case of loss, theft or
      destruction) upon delivery of an indemnity agreement (with surety if reasonably
      required) in an amount reasonably satisfactory to the Company, or (in the case
      of mutilation) upon surrender and cancellation of this Warrant, the Company
      will
      issue, in lieu thereof, a new Warrant of like tenor.

     

    8.  Notices.
      Any
      notice required or permitted by this Warrant shall be in writing and, subject
      to
Section 4
      hereof,
      shall be deemed sufficient upon receipt, when delivered personally or by
      courier, overnight delivery service or confirmed facsimile, or five (5) business
      day after being deposited in the regular mail as certified or registered mail
      (airmail if sent internationally) with postage prepaid, addressed (a) if to
      the Registered Holder, to the address of the Registered Holder most recently
      furnished in writing to the Company, and (b) if to the Company, to the
      address set forth below or subsequently modified by written notice to the
      Registered Holder.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    9.  No
      Rights as Stockholder.
      Until
      the exercise of this Warrant, the Registered Holder of this Warrant shall not
      have or exercise any rights by virtue hereof as a stockholder of the
      Company.

     

    10.  No
      Fractional Shares.
      No
      fractional shares of Common Stock will be issued in connection with any exercise
      hereunder. In lieu of any fractional shares which would otherwise be issuable,
      the Company shall pay cash equal to the product of such fraction multiplied
      by
      the fair market value of one share of Common Stock on the date of exercise,
      as
      determined in good faith by the Company’s Board of Directors.

     

    11.  Amendment
      or Waiver.
      Any
      term of this Warrant may be amended or waived only by an instrument in writing,
      specifying such amendment or waiver, signed by the Company and by the Registered
      Holder.

     

    12.  Headings.
      The
      headings in this Warrant are for purposes of reference only and shall not limit
      or otherwise affect the meaning of any provision of this Warrant.

     

    13.  Governing
      Law.
      This
      Warrant shall be governed, construed and interpreted in accordance with the
      laws
      of the State of Nevada, without giving effect to principles of conflicts of
      law.

     

    [Signature
      page follows.]

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    IN
      WITNESS WHEREOF, the Company has caused this Warrant No. ___ to be signed
      by its duly authorized officer and to be dated the Date of Issuance
      hereof.

     

     

    
      	 	 	 
	 	
              IGNIS
                PETROLEUM GROUP, INC.

            
	 
 	 
 	 
 
	 	
              By:

            	 
	 	 	
              

            
	 	
              
                Name:

              

            	
            
	 	 	
              

            
	 	Title: 	 
	 	 	
              

            
	 	
              Address:

            
	 	
              
                100
                  Crescent Court, 7th
                  Floor 

                Dallas,
                  Texas 75201

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