Document:

Exhibit 10.16

 

ATHENA BITCOIN, INC. 2016 EQUITY INCENTIVE
PLAN

 

1.      
Purpose; Eligibility.

 

1.1       General
Purpose. The name of this plan is the Athena Bitcoin, Inc. 2016 Equity Incentive Plan (the “Plan”). The purposes of
the Plan are to (a) enable Athena Bitcoin, Inc. a Delaware corporation (the “Company”), to attract and retain the types
of Employees who will contribute to the Company's long range success; (b) provide incentives that align the interests of Employees with
those of the shareholders of the Company; and (c) promote the success of the Company's business.

 

1.2       Eligible
Award Recipients. The persons eligible to receive Awards are the Employees of the Company.

 

1.3       Available
Awards. Awards that may be granted under the Plan include: (a) Incentive Stock Options, and (b) Non-qualified Stock Options.

 

2.      
Definitions.

 

“Affiliate” means a corporation
or other entity that, directly or through one or more intermediaries, controls, is controlled by or is under common control with, the
Company.

 

“Applicable Laws” means
the requirements related to or implicated by the administration of the Plan under applicable state corporate law, United States federal
and state securities laws, the Code and the applicable laws of any foreign country or jurisdiction where Awards are granted under the
Plan.

 

“Award” means any right
granted under the Plan, including an Incentive Stock Option or a Non-qualified Stock Option.

 

“Award Agreement” means
a written agreement, contract, certificate or other instrument or document evidencing the terms and conditions of an individual Award
granted under the Plan which may, in the discretion of the Company, be transmitted electronically to any Participant. Each Award Agreement
shall be subject to the terms and conditions of the Plan.

 

“Board” means the Board
of Directors of the Company, as constituted at any time.

 

“Cause” means, unless
the applicable Award Agreement provides otherwise:

 

 With respect to any Employee: (a) If the
Employee is a party to an employment or service agreement with the Company or an Affiliate and such agreement provides for a definition
of Cause, the definition contained therein; or (b) If no such agreement exists, or if such agreement does not define Cause: (i) failure
to perform such duties as are reasonably requested by the Board; (ii) material breach of any agreement with the Company or an Affiliate,
or a material violation of the Company's or an Affiliate's code of conduct or other written policy; (iii) commission of, or plea of guilty
or no contest to, a felony or a crime involving moral turpitude or the commission of any other act involving willful malfeasance or material
fiduciary breach with respect to the Company or an Affiliate; (iv) use of illegal drugs or abuse of alcohol that materially impairs the
Participant's ability to perform his or her duties to the Company or an Affiliate; or (v) gross negligence or willful misconduct with
respect to the Company or an Affiliate.

 

With respect to any Director, a determination by
a majority of the disinterested Board members that the Director has engaged in any of the following: (a) malfeasance in office; (b) gross
misconduct or neglect; (c) false or fraudulent misrepresentation inducing the Director's appointment; (d) wilful conversion of corporate
funds; or (e) repeated failure to participate in Board meetings on a regular basis despite having received proper notice of the meetings
in advance.

 

The Committee, in its absolute discretion, shall
determine the effect of all matters and questions relating to whether a Participant has been discharged for Cause.

 

 

    	 	 	 

     

    

 

“Change in Control” means: (a)
The acquisition (whether by purchase, merger, consolidation, combination or other similar transaction) by any Person of beneficial ownership
(within the meaning of Rule 13d-3 promulgated under the Exchange Act) of more than 50% (on a fully diluted basis) of the combined voting
power of the then outstanding voting securities of the Company; provided, however, that for purposes of this Plan, the following acquisitions
shall not constitute a Change in Control: (A) any acquisition by the Company or any Affiliate, (B) any acquisition by any employee benefit
plan sponsored or maintained by the Company or any subsidiary, (C) in respect of an Award held by a particular Participant, any acquisition
by the Participant or any group of persons including the Participant (or any entity controlled by the Participant or any group of persons
including the Participant); or (D) the acquisition of securities pursuant to an offer made to the general public through a registration
statement filed with the Securities and Exchange Commission; or (b) The sale, transfer or other disposition of all or substantially all
of the assets of the Company to any Person other than an Affiliate.

 

“Code” means the Internal
Revenue Code of 1986, as it may be amended from time to time. Any reference to a section of the Code shall be deemed to include a reference
to any regulations promulgated thereunder.

 

“Committee” means a committee
of one or more members of the Board appointed by the Board to administer the Plan in accordance with Section 3.4 and Section
3.5.

 

“Common Stock” means the
common stock, $0.01 par value per share, of the Company.

 

“Company” means Athena
Bitcoin, Inc., a Delaware corporation, and any successor thereto.

 

“Consultant” means any
individual who is engaged by the Company or any Affiliate to render consulting or advisory services, whether or not compensated for such
services.

 

“Continuous Service” means
that the Participant's service with the Company or an Affiliate, whether as an Employee, Consultant or Director, is not interrupted or
terminated. The Participant's Continuous Service shall not be deemed to have terminated merely because of a change in the capacity in
which the Participant renders service to the Company or an Affiliate as an Employee, Consultant or Director or a change in the entity
for which the Participant renders such service, provided that there is no interruption or termination of the Participant's Continuous
Service; provided further that if any Award is subject to Section 409A of the Code, this sentence shall only be given effect to
the extent consistent with Section 409A of the Code. For example, a change in status from an Employee of the Company to a Director of
an Affiliate will not constitute an interruption of Continuous Service. The Committee or its delegate, in its sole discretion, may determine
whether Continuous Service shall be considered interrupted in the case of any leave of absence approved by that party, including sick
leave, military leave or any other personal or family leave of absence.

 

“Detrimental Activity” means
any of the following: (i) unauthorized disclosure of any confidential or proprietary information of the Company or any of its Affiliates;
(ii) any activity that would be grounds to terminate the Participant's employment or service with the Company or any of its subsidiaries
for Cause; (iii) the breach of any non-competition, non-solicitation, non-disparagement or other agreement containing restrictive covenants,
with the Company or its Affiliates; (iv) fraud or conduct contributing to any financial restatements or irregularities, as determined
by the Committee in its sole discretion; or (v) any other conduct or act determined to be materially injurious, detrimental or prejudicial
to any interest of the Company or any of its Affiliates, as determined by the Committee in its sole discretion.

 

“Director” means a member
of the Board.

 

“Disability” means that
the Participant is unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment;
provided, however, for purposes of determining the term of an Incentive Stock Option pursuant to Section 6.9 hereof, the
term Disability shall have the meaning ascribed to it under Section 22(e)(3) of the Code. The determination of whether an individual has
a Disability shall be determined under procedures established by the Committee. Except in situations where the Committee is determining
Disability for purposes of the term of an Incentive Stock Option pursuant to Section 6.9 hereof within the meaning of Section 22(e)(3)
of the Code, the Committee may rely on any determination that a Participant is disabled for purposes of benefits under any long-term disability
plan maintained by the Company or any Affiliate in which a Participant participates.

 

“Disqualifying Disposition” has
the meaning set forth in Section  13.10.

 

 

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“Effective Date” shall
mean the date as of which this Plan is adopted by the Board.

 

“Employee” means any person,
including an officer or Director, employed by the Company or an Affiliate; provided, that, for purposes of determining eligibility
to receive Incentive Stock Options, an Employee shall mean an employee of the Company or a parent or subsidiary corporation within the
meaning of Section 424 of the Code. Mere service as a Director or payment of a director's fee by the Company or an Affiliate shall not
be sufficient to constitute “employment” by the Company or an Affiliate.

 

“Exchange Act” means the
Securities Exchange Act of 1934, as amended, and any successor thereto.

 

“Fair Market Value” means,
on a given date, (i) if there is a public market for the shares of Common Stock on such date, the closing price of the shares as reported
on such date on the principal national securities exchange on which the shares are listed or, if no sales of shares have been reported
on any national securities exchange, then the immediately preceding date on which sales of the shares have been so reported or quoted,
and (ii) if there is no public market for the shares of Common Stock on such date, then the fair market value shall be determined by the
Committee in good faith after taking into consideration all factors which it deems appropriate, including, without limitation, Sections
409A and 422 of the Code.

 

“Grant Date” means the
date on which the Committee adopts a resolution, or takes other appropriate action, expressly granting an Award to a Participant that
specifies the key terms and conditions of the Award or, if a later date is set forth in such resolution, then such date as is set forth
in such resolution.

 

“Incentive Stock Option” means
an Option intended to qualify as an incentive stock option within the meaning of Section 422 of the Code.

 

“Non-qualified Stock Option” means
an Option that by its terms does not qualify or is not intended to qualify as an Incentive Stock Option.

 

“Option” means an Incentive
Stock Option or a Non-qualified Stock Option granted pursuant to the Plan.

 

“Optionholder” means a
person to whom an Option is granted pursuant to the Plan or, if applicable, such other person who holds an outstanding Option.

 

“Option Exercise Price” means
the price at which a share of Common Stock may be purchased upon the exercise of an Option.

 

“Participant” means an
eligible person to whom an Award is granted pursuant to the Plan or, if applicable, such other person who holds an outstanding Award.

 

“Permitted Transferee” means:
(a) a member of the Optionholder's immediate family (child, stepchild, grandchild, parent, stepparent, grandparent, spouse, former spouse,
sibling, niece, nephew, mother-in-law, father-in-law, son-in-law, daughter-in-law, brother-in-law, or sister-in-law, including adoptive
relationships), any person sharing the Optionholder's household (other than a tenant or employee), a trust in which these persons have
more than 50% of the beneficial interest, a foundation in which these persons (or the Optionholder) control the management of assets,
and any other entity in which these persons (or the Optionholder) own more than 50% of the voting interests; or (b) such other transferees
as may be permitted by the Committee in its sole discretion; provided that, unless otherwise determined by the Committee, no person shall
be a Permitted Transferee unless he or she executes and becomes a party to the Shareholders' Agreement.

 

“Person” means any individual,
entity or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the Exchange Act).

 

“Plan” means this Athena
Bitcoin, Inc. 2015 Equity Incentive Plan, as amended and/or amended and restated from time to time.

 

“Shareholders' Agreement” means
the Shareholders' Agreement by and among the Company and its shareholders, dated September 1, 2015, as in effect from time to time.

 

“Ten Percent Shareholder” means
a person who owns (or is deemed to own pursuant to Section 424(d) of the Code) stock possessing more than 10% of the total combined voting
power of all classes of stock of the Company or of any of its Affiliates.

 

 

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3.      
Administration.

 

3.1       Authority
of Committee. The Plan shall be administered by the Committee or, in the Board's sole discretion, by the Board. Subject to the terms of
the Plan, the Committee's charter and Applicable Laws, and in addition to other express powers and authorization conferred by the Plan,
the Committee shall have the authority:

 

(a)       
to construe and interpret the Plan and apply its provisions; 

 

(b)      
to promulgate, amend, and rescind rules and regulations relating to the administration of the Plan; 

 

(c)       
to authorize any person to execute, on behalf of the Company, any instrument required to carry out the purposes of the Plan;

 

(d)      
to delegate its authority to one or more officers of the Company;

 

(e)       
to determine when Awards are to be granted under the Plan and the applicable Grant Date; 

 

(f)       
from time to time to select, subject to the limitations set forth in this Plan, those Participants to whom Awards shall be granted; 

 

(g)      
to determine the number of shares of Common Stock to be made subject to each Award; 

 

(h)      
to determine whether each Option is to be an Incentive Stock Option or a Non-qualified Stock Option; 

 

(i)        
to prescribe the terms and conditions of each Award, including, without limitation, the exercise price and medium of payment and vesting
provisions, and to specify the provisions of the Award Agreement relating to such grant; 

 

(j)        
to amend any outstanding Awards, including for the purpose of modifying the time or manner of vesting, or the term of any outstanding
Award; provided, however, that if any such amendment impairs a Participant's rights or increases a Participant's obligations under
his or her Award or creates or increases a Participant's federal income tax liability with respect to an Award, such amendment shall also
be subject to the Participant's consent; 

 

(k)      
to determine the duration and purpose of leaves of absences which may be granted to a Participant without constituting termination of
their employment for purposes of the Plan, which periods shall be no shorter than the periods generally applicable to Employees under
the Company's employment policies; 

 

(l)        
to make decisions with respect to outstanding Awards that may become necessary upon a change in corporate control or an event that triggers
anti-dilution adjustments; 

 

(m)    
to interpret, administer, reconcile any inconsistency in, correct any defect in and/or supply any omission in the Plan and any instrument
or agreement relating to, or Award granted under, the Plan; and 

 

(n)      
to exercise discretion to make any and all other determinations which it determines to be necessary or advisable for the administration
of the Plan. 

 

3.2       Acquisitions
and Other Transactions. The Committee may, from time to time, assume outstanding awards granted by another entity, whether in connection
with an acquisition of such other entity or otherwise, by either (i) granting an Award under the Plan in replacement of or in substitution
for the award assumed by the Company, or (ii) treating the assumed award as if it had been granted under the Plan if the terms of such
assumed award could be applied to an Award granted under the Plan. Such assumed award shall be permissible if the holder of the assumed
award would have been eligible to be granted an Award hereunder if the other entity had applied the rules of this Plan to such grant.
The Committee may also grant Awards under the Plan in settlement of or in substitution for outstanding awards or obligations to grant
future awards in connection with the Company or an Affiliate acquiring another entity, an interest in another entity, or an additional
interest in an Affiliate whether by merger, stock purchase, asset purchase or other form of transaction.

 

 

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3.3       Committee
Decisions Final. All decisions made by the Committee pursuant to the provisions of the Plan shall be final and binding on the Company
and the Participants, unless such decisions are determined by a court having jurisdiction to be arbitrary and capricious.

 

3.4       Delegation.
The Committee, or if no Committee has been appointed, the Board, may delegate administration of the Plan to a committee or committees
of one or more members of the Board, and the term “Committee” shall apply to any person or persons to whom such authority
has been delegated. The Committee shall have the power to delegate to a subcommittee any of the administrative powers the Committee is
authorized to exercise (and references in this Plan to the Board or the Committee shall thereafter be to the committee or subcommittee),
subject, however, to such resolutions, not inconsistent with the provisions of the Plan, as may be adopted from time to time by the Board.
The Board may abolish the Committee at any time and revest in the Board the administration of the Plan. The members of the Committee shall
be appointed by and serve at the pleasure of the Board. From time to time, the Board may increase or decrease the size of the Committee,
add additional members to, remove members (with or without cause) from, appoint new members in substitution therefor, and fill vacancies,
however caused, in the Committee. The Committee shall act pursuant to a vote of the majority of its members or, in the case of a Committee
comprised of only two members, the unanimous consent of its members, whether present or not, or by the written consent of the majority
of its members and minutes shall be kept of all of its meetings and copies thereof shall be provided to the Board. Subject to the limitations
prescribed by the Plan and the Board, the Committee may establish and follow such rules and regulations for the conduct of its business
as it may determine to be advisable.

 

3.5       Committee
Composition. Except as otherwise determined by the Board, the Committee shall consist solely of two or more Directors appointed to
the Committee from time to time by the Board.

 

3.6       Indemnification.
In addition to such other rights of indemnification as they may have as Directors or members of the Committee, and to the extent allowed
by Applicable Laws, the Committee shall be indemnified by the Company against the reasonable expenses, including attorney's fees, actually
incurred in connection with any action, suit or proceeding or in connection with any appeal therein, to which the Committee may be party
by reason of any action taken or failure to act under or in connection with the Plan or any Award granted under the Plan, and against
all amounts paid by the Committee in settlement thereof (provided, however, that the settlement has been approved by the Company,
which approval shall not be unreasonably withheld) or paid by the Committee in satisfaction of a judgment in any such action, suit or
proceeding, except in relation to matters as to which it shall be adjudged in such action, suit or proceeding that such Committee did
not act in good faith and in a manner which such person reasonably believed to be in the best interests of the Company, or in the case
of a criminal proceeding, had no reason to believe that the conduct complained of was unlawful; provided, however, that within
60 days after institution of any such action, suit or proceeding, such Committee shall, in writing, offer the Company the opportunity
at its own expense to handle and defend such action, suit or proceeding.

 

4.      
Shares Subject to the Plan.

 

4.1       Subject
to adjustment in accordance with Section 10, a total of 135,000 shares of Common Stock shall be available for the grant of Awards
under the Plan, all of which may be granted as Incentive Stock Options. During the terms of the Awards, the Company shall keep available
at all times the number of shares of Common Stock required to satisfy such Awards.

 

4.2       Shares
of Common Stock available for distribution under the Plan may consist, in whole or in part, of authorized and unissued shares or treasury
shares.

 

4.3       Any
shares of Common Stock subject to an Award that is canceled, forfeited or expires prior to exercise or realization, either in full or
in part, shall again become available for issuance under the Plan. Notwithstanding anything to the contrary contained herein: shares subject
to an Award under the Plan shall not again be made available for issuance or delivery under the Plan if such shares are (a) shares tendered
in payment of an Option or (b) shares delivered or withheld by the Company to satisfy any tax withholding obligation.

 

4.4       If
the Committee authorizes the assumption of awards pursuant to Section 3.2 or Section 11.1 hereof, the assumption will reduce
the number of shares available for issuance under the Plan in the same manner as if the assumed awards had been granted under the Plan.

 

5.      
Eligibility.

 

5.1       Eligibility
for Specific Awards. Incentive Stock Options may be granted to Employees only. Awards other than Incentive Stock Options may be granted
to Directors and Employees.

 

 

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5.2       Ten
Percent Shareholders. A Ten Percent Shareholder shall not be granted an Incentive Stock Option unless the Option Exercise Price is
at least 110% of the Fair Market Value of the Common Stock at the Grant Date and the Option is not exercisable after the expiration of
five years from the Grant Date.

 

6.      
Option Provisions. Each Option granted under the Plan shall be evidenced by an Award Agreement. Each Option so granted
shall be subject to the conditions set forth in this Section 6, and to such other conditions not inconsistent with the Plan as may be
reflected in the applicable Award Agreement. All Options shall be separately designated Incentive Stock Options or Non-qualified Stock
Options at the time of grant, and, if certificates are issued, a separate certificate or certificates will be issued for shares of Common
Stock purchased on exercise of each type of Option. Notwithstanding the foregoing, the Company shall have no liability to any Participant
or any other person if an Option designated as an Incentive Stock Option fails to qualify as such at any time or if an Option is determined
to constitute “nonqualified deferred compensation” within the meaning of Section 409A of the Code and the terms of such Option
do not satisfy the requirements of Section 409A of the Code. The provisions of separate Options need not be identical, but each Option
shall include (through incorporation of provisions hereof by reference in the Option or otherwise) the substance of each of the following
provisions:

 

6.1       Term.
Subject to the provisions of Section 5.2 regarding Ten Percent Shareholders, no Incentive Stock Option shall be exercisable after
the expiration of 10 years from the Grant Date. The term of a Non-qualified Stock Option granted under the Plan shall be determined by
the Committee; provided, however, no Non-qualified Stock Option shall be exercisable after the expiration of 10 years from the
Grant Date.

 

6.2       Exercise
Price of An Incentive Stock Option. Subject to the provisions of Section 5.2 regarding Ten Percent Shareholders, the Option
Exercise Price of each Incentive Stock Option shall be not less than 100% of the Fair Market Value of the Common Stock subject to the
Option on the Grant Date. Notwithstanding the foregoing, an Incentive Stock Option may be granted with an Option Exercise Price lower
than that set forth in the preceding sentence if such Option is granted pursuant to an assumption or substitution for another option in
a manner satisfying the provisions of Section 424(a) of the Code.

 

6.3       Exercise
Price of a Non-qualified Stock Option. The Option Exercise Price of each Non-qualified Stock Option shall be not less than 100% of
the Fair Market Value of the Common Stock subject to the Option on the Grant Date. Notwithstanding the foregoing, a Non-qualified Stock
Option may be granted with an Option Exercise Price lower than that set forth in the preceding sentence if such Option is granted pursuant
to an assumption or substitution for another option in a manner satisfying the provisions of Section 409A of the Code.

 

6.4       Method
of Exercise. The Option Exercise Price shall be paid, to the extent permitted by Applicable Laws, either (a) in cash or by certified
or bank check at the time the Option is exercised or (b) in the discretion of the Committee, upon such terms as the Committee shall approve:
(i) by delivery to the Company of other shares of Common Stock, duly endorsed for transfer to the Company, with a Fair Market Value on
the date of delivery equal to the Option Exercise Price (or portion thereof) due for the number of shares being acquired; (ii) by a “net
exercise” procedure effected by withholding the minimum number of shares of Common Stock otherwise issuable in respect of an Option
that are needed to pay the Option Exercise Price; (iii) by any combination of the foregoing methods; or (iv) in any other form of legal
consideration that may be acceptable to the Committee. Unless otherwise specifically provided in the Option, the Option Exercise Price
that is paid by delivery to the Company of other Common Stock acquired, directly or indirectly from the Company, shall be paid only by
shares of Common Stock that have been held for more than six months (or such longer or shorter period of time required to avoid a charge
to earnings for financial accounting purposes).

 

6.5       Transferability
of An Incentive Stock Option. An Incentive Stock Option shall not be transferable except by will or by the laws of descent and distribution
and shall be exercisable during the lifetime of the Optionholder only by the Optionholder. Notwithstanding the foregoing, the Optionholder
may, by delivering written notice to the Company, in a form satisfactory to the Company, designate a third party who, in the event of
the death of the Optionholder, shall thereafter be entitled to exercise the Option.

 

6.6       Transferability
of a Non-qualified Stock Option. A Non-qualified Stock Option may, in the sole discretion of the Committee, be transferable to a Permitted
Transferee, upon written approval by the Committee to the extent provided in the Award Agreement. If the Non-qualified Stock Option does
not provide for transferability, then the Non-qualified Stock Option shall not be transferable except by will or by the laws of descent
and distribution and shall be exercisable during the lifetime of the Optionholder only by the Optionholder. Notwithstanding the foregoing,
the Optionholder may, by delivering written notice to the Company, in a form satisfactory to the Company, designate a third party who,
in the event of the death of the Optionholder, shall thereafter be entitled to exercise the Option.

 

 

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6.7       Vesting
of Options. Each Option may, but need not, vest and therefore become exercisable in periodic installments that may, but need not,
be equal. The Option may be subject to such other terms and conditions on the time or times when it may be exercised (which may be based
on performance or other criteria) as the Committee may deem appropriate. The vesting provisions of individual Options may vary. No Option
may be exercised for a fraction of a share of Common Stock. The Committee may, but shall not be required to, provide for an acceleration
of vesting and exercisability in the terms of any Award Agreement upon the occurrence of a specified event.

 

6.8       Termination
of Continuous Service. Unless otherwise provided in an Award Agreement or in an employment agreement the terms of which have been
approved by the Committee, in the event an Optionholder's Continuous Service terminates (other than upon the Optionholder's death or Disability),
the Optionholder may exercise his or her Option (to the extent that the Optionholder was entitled to exercise such Option as of the date
of termination) but only within such period of time ending on the earlier of (a) the date six months following the termination of the
Optionholder's Continuous Service or (b) the expiration of the term of the Option as set forth in the Award Agreement; provided that,
if the termination of Continuous Service is by the Company for Cause, all outstanding Options (whether or not vested) shall immediately
terminate and cease to be exercisable. If, after termination, the Optionholder does not exercise his or her Option within the time specified
in the Award Agreement, the Option shall terminate.

 

6.9       Disability
of Optionholder. Unless otherwise provided in an Award Agreement, in the event that an Optionholder's Continuous Service terminates
as a result of the Optionholder's Disability, the Optionholder may exercise his or her Option (to the extent that the Optionholder was
entitled to exercise such Option as of the date of termination), but only within such period of time ending on the earlier of (a) the
date 6 months following such termination or (b) the expiration of the term of the Option as set forth in the Award Agreement. If, after
termination, the Optionholder does not exercise his or her Option within the time specified herein or in the Award Agreement, the Option
shall terminate.

 

6.10    Death of Optionholder.
Unless otherwise provided in an Award Agreement, in the event an Optionholder's Continuous Service terminates as a result of the Optionholder's
death, then the Option may be exercised (to the extent the Optionholder was entitled to exercise such Option as of the date of death)
by the Optionholder's estate, by a person who acquired the right to exercise the Option by bequest or inheritance or by a person designated
to exercise the Option upon the Optionholder's death, but only within the period ending on the earlier of (a) the date 6 months following
the date of death or (b) the expiration of the term of such Option as set forth in the Award Agreement. If, after the Optionholder's death,
the Option is not exercised within the time specified herein or in the Award Agreement, the Option shall terminate.

 

6.11    Incentive Stock Option
$100,000 Limitation. To the extent that the aggregate Fair Market Value (determined at the time of grant) of Common Stock with respect
to which Incentive Stock Options are exercisable for the first time by any Optionholder during any calendar year (under all plans of the
Company and its Affiliates) exceeds $100,000, the Options or portions thereof which exceed such limit (according to the order in which
they were granted) shall be treated as Non-qualified Stock Options.

 

6.12    Detrimental Activity.
Unless otherwise provided in an Award Agreement, all outstanding Options (whether or not vested) shall immediately terminate and cease
to be exercisable on the date on which an Optionholder engages in Detrimental Activity.

 

7.      
Securities Law Compliance.

 

7.1       Securities
Registration. No Awards shall be granted under the Plan and no shares of Common Stock shall be issued and delivered upon the exercise
of Options granted under the Plan unless and until the Company and/or the Participant have complied with all applicable federal and state
registration, listing and/or qualification requirements and all other requirements of law or of any regulatory agencies having jurisdiction.

 

7.2       Representations;
Legends. The Committee may, as a condition to the grant of any Award or the exercise of any Option under the Plan, require a Participant
to (i) represent in writing that the shares of Common Stock received in connection with such Award are being acquired for investment and
not with a view to distribution and (ii) make such other representations and warranties as are deemed appropriate by counsel to the Company.
Each certificate representing shares of Common Stock acquired under the Plan shall bear a legend in such form as the Company deems appropriate.

 

8.      
Use of Proceeds from Stock. Proceeds from the sale of Common Stock pursuant to Awards, or upon exercise thereof, shall
constitute general funds of the Company.

 

 

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9.      
Miscellaneous.

 

9.1       Acceleration
of Exercisability and Vesting. The Committee shall have the power to accelerate the time at which an Award may first be exercised
or the time during which an Award or any part thereof will vest in accordance with the Plan, notwithstanding the provisions in the Award
stating the time at which it may first be exercised or the time during which it will vest.

 

9.2       Shareholder
Rights. Except as provided in the Plan or an Award Agreement, no Participant shall be deemed to be the holder of, or to have any of
the rights of a holder with respect to, any shares of Common Stock subject to an Award unless and until such Participant has satisfied
all requirements for exercise or settlement of the Award pursuant to its terms (including any obligation to execute the Shareholders'
Agreement) and no adjustment shall be made for dividends (ordinary or extraordinary, whether in cash, securities or other property) or
distributions of other rights for which the record date is prior to the date such Common Stock certificate is issued, except as provided
in Section 10 hereof.

 

9.3       No
Employment or Other Service Rights. Nothing in the Plan or any instrument executed or Award granted pursuant thereto shall confer
upon any Participant any right to continue to serve the Company or an Affiliate in the capacity in effect at the time the Award was granted
or shall affect the right of the Company or an Affiliate to terminate (a) the employment of an Employee with or without notice and with
or without Cause or (b) the service of a Director pursuant to the By-laws of the Company or an Affiliate, and any applicable provisions
of the corporate law of the state in which the Company or the Affiliate is incorporated, as the case may be.

 

9.4       Transfer;
Approved Leave of Absence. For purposes of the Plan, no termination of employment by an Employee shall be deemed to result from either
(a) a transfer of employment to the Company from an Affiliate or from the Company to an Affiliate, or from one Affiliate to another, or
(b) an approved leave of absence for military service or sickness, or for any other purpose approved by the Company, if the Employee's
right to reemployment is guaranteed either by a statute or by contract or under the policy pursuant to which the leave of absence was
granted or if the Committee otherwise so provides in writing, in either case, except to the extent inconsistent with Section 409A of the
Code if the applicable Award is subject thereto.

 

9.5       Withholding
Obligations. To the extent provided by the terms of an Award Agreement and subject to the discretion of the Committee, the Participant
may satisfy any federal, state or local tax withholding obligation relating to the exercise or acquisition of Common Stock under an Award
by any of the following means (in addition to the Company's right to withhold from any compensation paid to the Participant by the Company)
or by a combination of such means: (a) tendering a cash payment; (b) authorizing the Company to withhold shares of Common Stock from the
shares of Common Stock otherwise issuable to the Participant as a result of the exercise or acquisition of Common Stock under the Award,
provided, however, that no shares of Common Stock are withheld with a value exceeding the minimum amount of tax required to be
withheld by law; or (c) delivering to the Company previously owned and unencumbered shares of Common Stock of the Company.

 

10.  
Adjustments Upon Changes in Stock. In the event of changes in the outstanding Common Stock or in the capital structure
of the Company by reason of any stock or extraordinary cash dividend, stock split, reverse stock split, an extraordinary corporate transaction
such as any recapitalization, reorganization, merger, consolidation, combination, exchange, or other relevant change in capitalization
occurring after the Grant Date of any Award, Awards granted under the Plan and any Award Agreements, the exercise price of Options and
the maximum number of shares of Common Stock subject to Awards stated in Section 4 will be equitably adjusted or substituted, as
to the number, price or kind of a share of Common Stock or other consideration subject to such Awards to the extent necessary to preserve
the economic intent of such Award. In the case of adjustments made pursuant to this Section 10, unless the Committee specifically determines
that such adjustment is in the best interests of the Company or its Affiliates, the Committee shall, in the case of Incentive Stock Options,
ensure that any adjustments under this Section 10 will not constitute a modification, extension or renewal of the Incentive Stock Options
within the meaning of Section 424(h)(3) of the Code and in the case of Non-qualified Stock Options, ensure that any adjustments under
this Section 10 will not constitute a modification of such Non-qualified Stock Options within the meaning of Section 409A of the Code.

 

11.  
Effect of Change in Control.

 

11.1    In the event of
a Change in Control, the Committee may, but shall not be obligated to:

 

(a)       
accelerate, vest or cause the restrictions to lapse with respect to all or any portion of any Award;

 

 

    	 	8	 

     

    

 

(b)      
cancel Awards and cause to be paid to the holders of vested Awards the value of such Awards, if any, as determined by the Committee, in
its sole discretion, it being understood that in the case of any Option with an Option Exercise Price that equals or exceeds the price
paid for a share of Common Stock in connection with the Change in Control, the Committee may cancel the Option without the payment of
consideration therefor;

 

(c)       
provide for the issuance of substitute Awards or the assumption or replacement of such Awards; or

 

(d)      
provide written notice to Participants that for a period of at least ten days prior to the Change in Control, such Awards shall be exercisable,
to the extent applicable, as to all shares of Common Stock subject thereto and upon the occurrence of the Change in Control, any Awards
not so exercised shall terminate and be of no further force and effect.

 

11.2    The obligations
of the Company under the Plan shall be binding upon any successor corporation or organization resulting from the merger, consolidation
or other reorganization of the Company, or upon any successor corporation or organization succeeding to all or substantially all of the
assets and business of the Company and its Affiliates, taken as a whole.

 

12.  
Amendment of the Plan and Awards.

 

12.1    Amendment of the Plan.
The Board at any time, and from time to time, may amend or terminate the Plan. However, except as provided in Section 10 relating
to adjustments upon changes in Common Stock and Section 12.3, no amendment shall be effective unless approved by the shareholders
of the Company to the extent shareholder approval is necessary to satisfy any Applicable Laws. At the time of such amendment, the Board
shall determine, upon advice from counsel, whether such amendment will be contingent on shareholder approval.

 

12.2    Shareholder Approval.
The Board may, in its sole discretion, submit any other amendment to the Plan for shareholder approval.

 

12.3    Contemplated Amendments.
It is expressly contemplated that the Board may amend the Plan in any respect the Board deems necessary or advisable to provide eligible
Employees and Directors with the maximum benefits provided or to be provided under the provisions of the Code and the regulations promulgated
thereunder relating to Incentive Stock Options or to the nonqualified deferred compensation provisions of Section 409A of the Code and/or
to bring the Plan and/or Awards granted under it into compliance therewith.

 

12.4    No Impairment of Rights.
Rights under any Award granted before amendment of the Plan shall not be impaired by any amendment of the Plan unless (a) the Company
requests the consent of the Participant and (b) the Participant consents in writing.

 

12.5    Amendment of Awards.
The Committee at any time, and from time to time, may amend the terms of any one or more Awards; provided, however, that the Committee
may not affect any amendment which would otherwise constitute an impairment of the rights under any Award unless (a) the Company requests
the consent of the Participant and (b) the Participant consents in writing.

 

13.  
General Provisions.

 

13.1    Clawback; Forfeiture
.. Notwithstanding anything to the contrary contained herein, the Committee may, in its sole discretion, provide in an Award Agreement
or otherwise that the Committee may cancel such Award if the Participant has engaged in or engages in any Detrimental Activity. The Committee
may, in its sole discretion, also provide in an Award Agreement or otherwise that (i) if the Participant has engaged in or engages in
Detrimental Activity, the Participant will forfeit any gain realized on the vesting, exercise or settlement of any Award, and must repay
the gain to the Company and (ii) if the Participant receives any amount in excess of what the Participant should have received under the
terms of the Award for any reason (including, without limitation, by reason of a financial restatement, mistake in calculations or other
administrative error), then the Participant shall be required to repay any such excess amount to the Company. Without limiting the foregoing,
all Awards shall be subject to reduction, cancellation, forfeiture or recoupment to the extent necessary to comply with Applicable Laws.

 

13.2    Shareholders' Agreement.
In connection with the grant, vesting and/or exercise of any Award under the Plan, the Committee may require a Participant to execute
and become a party to the Shareholders' Agreement as a condition of such grant, vesting and/or exercise. The Shareholders' Agreement may
contain restrictions on the transferability of shares of Common Stock acquired under the Plan (such as a right of first refusal or a prohibition
on transfer) and such shares may be subject to call rights and drag-along rights of the Company and certain of its investors. The Company
shall also have any repurchase rights set forth in the Shareholders' Agreement or any Award Agreement.

 

 

    	 	9	 

     

    

 

13.3    Sub-plans. The Committee
may from time to time establish sub-plans under the Plan for purposes of satisfying blue sky, securities, tax or other laws of various
jurisdictions in which the Company intends to grant Awards. Any sub-plans shall contain such limitations and other terms and conditions
as the Committee determines are necessary or desirable. All sub-plans shall be deemed a part of the Plan, but each sub-plan shall apply
only to the Participants in the jurisdiction for which the sub-plan was designed.

 

13.4    Unfunded Plan. The
Plan shall be unfunded. Neither the Company, the Board nor the Committee shall be required to establish any special or separate fund or
to segregate any assets to assure the performance of its obligations under the Plan.

 

13.5    Recapitalizations.
Each Award Agreement shall contain provisions required to reflect the provisions of Section 10.

 

13.6    Delivery. Upon exercise
of a right granted under this Plan, the Company shall issue Common Stock or pay any amounts due within a reasonable period of time thereafter.
Subject to any statutory or regulatory obligations the Company may otherwise have, for purposes of this Plan, 30 days shall be considered
a reasonable period of time.

 

13.7    No Fractional Shares.
No fractional shares of Common Stock shall be issued or delivered pursuant to the Plan. The Committee shall determine whether cash,
additional Awards or other securities or property shall be issued or paid in lieu of fractional shares of Common Stock or whether any
fractional shares should be rounded, forfeited or otherwise eliminated.

 

13.8    Other Provisions.
The Award Agreements authorized under the Plan may contain such other provisions not inconsistent with this Plan, including, without limitation,
restrictions upon the exercise of the Awards, as the Committee may deem advisable.

 

13.9    Section 409A. The
Plan is intended to comply with Section 409A of the Code to the extent subject thereto, and, accordingly, to the maximum extent permitted,
the Plan shall be interpreted and administered to be in compliance therewith. Any payments described in the Plan that are due within the
“short-term deferral period” as defined in Section 409A of the Code shall not be treated as deferred compensation unless Applicable
Laws require otherwise. Notwithstanding anything to the contrary in the Plan, to the extent required to avoid accelerated taxation and
tax penalties under Section 409A of the Code, amounts that would otherwise be payable and benefits that would otherwise be provided pursuant
to the Plan during the six (6) month period immediately following the Participant's termination of Continuous Service shall instead be
paid on the first payroll date after the six-month anniversary of the Participant's separation from service (or the Participant's death,
if earlier). Notwithstanding the foregoing, neither the Company nor the Committee shall have any obligation to take any action to prevent
the assessment of any additional tax or penalty on any Participant under Section 409A of the Code and neither the Company nor the Committee
will have any liability to any Participant for such tax or penalty.

 

13.10   Disqualifying Dispositions. Any Participant who shall make a “disposition” (as defined in Section 424 of the Code) of
all or any portion of shares of Common Stock acquired upon exercise of an Incentive Stock Option within two years from the Grant Date
of such Incentive Stock Option or within one year after the issuance of the shares of Common Stock acquired upon exercise of such Incentive
Stock Option (a “Disqualifying Disposition”) shall be required to immediately advise the Company in writing as to the
occurrence of the sale and the price realized upon the sale of such shares of Common Stock.

 

13.11    Beneficiary Designation. Each Participant under the Plan may from time to time name any beneficiary or beneficiaries by whom any right
under the Plan is to be exercised in case of such Participant's death. Each designation will revoke all prior designations by the same
Participant, shall be in a form reasonably prescribed by the Committee and shall be effective only when filed by the Participant in writing
with the Company during the Participant's lifetime.

 

13.12   
Expenses. The costs of administering the Plan shall be paid by the Company.

 

13.13   
Severability. If any of the provisions of the Plan or any Award Agreement is held to be invalid, illegal or unenforceable, whether
in whole or in part, such provision shall be deemed modified to the extent, but only to the extent, of such invalidity, illegality or
unenforceability and the remaining provisions shall not be affected thereby.

 

13.14   Plan Headings. The headings in the Plan are for purposes of convenience only and are not intended to define or limit the construction
of the provisions hereof.

 

 

    	 	10	 

     

    

 

13.15  
Non-Uniform Treatment. The Committee's determinations under the Plan need not be uniform and may be made by it selectively among persons
who are eligible to receive, or actually receive, Awards. Without limiting the generality of the foregoing, the Committee shall be entitled
to make non-uniform and selective determinations, amendments and adjustments, and to enter into non-uniform and selective Award Agreements.

 

14.  
Termination or Suspension of the Plan. The Plan shall terminate automatically on October 1, 2025. No Award shall be
granted pursuant to the Plan after such date, but Awards theretofore granted may extend beyond that date. The Board may suspend or terminate
the Plan at any earlier date pursuant to Section 12.1 hereof. No Awards may be granted under the Plan while the Plan is suspended
or after it is terminated.

 

15.  
Choice of Law. The law of the State of Illinois shall govern all questions concerning the construction, validity and
interpretation of this Plan, without regard to such state's conflict of law rules.

 

As adopted by the Board of Directors of Athena
Bitcoin, Inc. on October 1, 2015

 

As approved by the shareholders of Athena Bitcoin,
Inc. on October 1, 2015.

 

 

 

    	 	11Exhibit 10.17

 

Athena Bitcoin, Inc., Incentive Stock Option
Agreement

 

This Incentive Stock Option Agreement (this “Agreement”)
is made and entered into as of _____________, 20____, by and between Athena Bitcoin, Inc., a Delaware corporation (the “Company”)
and ___________________(the “Participant”).

 

Grant Date: __________________________

 

Exercise Price per Share: __________________________

 

Number of Option Shares: 4,000

 

Expiration Date: __________________________ [ten
years after grant date]

 

1.     
Grant of Option.

 

1.1      
Grant; Type of Option. The Company hereby grants to the Participant an option (the “Option”) to purchase
the total number of shares of Common Stock of the Company equal to the number of Option Shares set forth above, at the Exercise Price
set forth above. The Option is being granted pursuant to the terms of the Athena Bitcoin, Inc. 2016 Equity Incentive Plan (the “Plan”).
The Option is intended to be an Incentive Stock Option within the meaning of Section 422 of the Code, although the Company makes no representation
or guarantee that the Option will qualify as an Incentive Stock Option. To the extent that the aggregate Fair Market Value (determined
on the Grant Date) of the shares of Common Stock with respect to which Incentive Stock Options are exercisable for the first time by the
Participant during any calendar year (under all plans of the Company and its Affiliates) exceeds $100,000, the Options or portions thereof
which exceed such limit (according to the order in which they were granted) shall be treated as Non-qualified Stock Options.

 

1.2      
Consideration; Subject to Plan. The grant of the Option is made in consideration of the services to be rendered by the Participant
to the Company and is subject to the terms and conditions of the Plan. Capitalized terms used but not defined herein will have the meaning
ascribed to them in the Plan.

 

2.     
Exercise Period; Vesting.

 

2.1      
Vesting Schedule. The Option will become vested and exercisable with respect to one third of the shares awarded  on
the anniversary of this Agreement until the Option is 100% vested. The unvested portion of the Option will not be exercisable on or after
the Participant’s termination of Continuous Service.

 

2.2      
Expiration. The Option will expire on the Expiration Date set forth above, or earlier as provided in this Agreement or the
Plan.

 

3.     
Termination of Continuous Service.

 

3.1      
Termination for Reasons Other Than Cause, Death, Disability. If the Participant’s Continuous Service is terminated
for any reason other than Cause, death or Disability, the Participant may exercise the vested portion of the Option, but only within such
period of time ending on the earlier of: (a) the date six  months following the termination
of the Participant’s Continuous Service or (b) the Expiration Date.

 

3.2      
Termination for Cause. If the Participant’s Continuous Service is terminated for Cause, the Option (whether vested
or unvested) shall immediately terminate and cease to be exercisable.

 

3.3      
Termination Due to Disability. If the Participant’s Continuous Service terminates as a result of the Participant’s
Disability, the Participant may exercise the vested portion of the Option, but only within such period of time ending on the earlier of:
(a) the date 6 months following the Participant’s termination of Continuous Service or (b) the Expiration Date.

 

3.4      
Termination Due to Death. If the Participant’s Continuous Service terminates as a result of the Participant’s
death, the vested portion of the Option may be exercised by the Participant’s estate, by a person who acquired the right to exercise
the Option by bequest or inheritance or by the person designated to exercise the Option upon the Participant’s death, but only within
the time period ending on the earlier of: (a) the date 6 months  following the Participant’s
termination of Continuous Service or (b) the Expiration Date.

 

 

    	 	 	 

     

    

 

4.     
Manner of Exercise.

 

4.1      
Election to Exercise. To exercise the Option, the Participant (or in the case of exercise after the Participant’s
death or incapacity, the Participant’s executor, administrator, heir or legatee, as the case may be) must deliver to the Company
an executed stock option exercise agreement in such form as is approved by the Committee from time to time (the “Exercise Agreement”),
which shall set forth, inter alia:

 

(a)      
the Participant’s election to exercise the Option;

 

(b)     
the number of shares of Common Stock being purchased;

 

(c)      
any restrictions imposed on the shares; and

 

(d)     
any representations, warranties and agreements regarding the Participant’s investment intent and access to information as
may be required by the Company to comply with applicable securities laws.

 

If someone other than the Participant exercises
the Option, then such person must submit documentation reasonably acceptable to the Company verifying that such person has the legal right
to exercise the Option.

 

4.2      
Payment of Exercise Price. The entire Exercise Price of the Option shall be payable in full at the time of exercise in the
manner designated by the Committee.

 

4.3      
Withholding. If the Company, in its discretion, determines that it is obligated to withhold any tax in connection with the
exercise of the Option, the Participant must make arrangements satisfactory to the Company to pay or provide for any applicable federal,
state and local withholding obligations of the Company. The Participant may satisfy any federal, state or local tax withholding obligation
relating to the exercise of the Option by any of the following means:

 

(a)      
tendering a cash payment;

 

(b)     
authorizing the Company to withhold shares of Common Stock from the shares of Common Stock otherwise issuable to the Participant
as a result of the exercise of the Option; provided, however, that no shares of Common Stock are withheld with a value exceeding
the minimum amount of tax required to be withheld by law; or

 

(c)      
delivering to the Company previously owned and unencumbered shares of Common Stock.

 

The Company has the right to withhold from any
compensation paid to a Participant.

 

4.4      
Issuance of Shares. Provided that the Exercise Agreement and payment are in form and substance satisfactory to the Company,
the Company shall issue the shares of Common Stock registered in the name of the Participant, the Participant’s authorized assignee,
or the Participant’s legal representative which shall be evidenced by stock certificates representing the shares with the appropriate
legends affixed thereto, appropriate entry on the books of the Company or of a duly authorized transfer agent, or other appropriate means
as determined by the Company.

 

5.     
No Right to Continued Employment; No Rights as Shareholder. Neither the Plan nor this Agreement shall confer upon
the Participant any right to be retained in any position, as an Employee, Consultant or Director of the Company. Further, nothing in the
Plan or this Agreement shall be construed to limit the discretion of the Company to terminate the Participant’s Continuous Service
at any time, with or without Cause. The Participant shall not have any rights as a shareholder with respect to any shares of Common Stock
subject to the Option unless and until certificates representing the shares have been issued by the Company to the holder of such shares,
or the shares have otherwise been recorded on the books of the Company or of a duly authorized transfer agent as owned by such holder.

 

 

    	 	2	 

     

    

 

6.     
Transferability. The Option is not transferable by the Participant other than to a designated beneficiary upon the
Participant’s death or by will or the laws of descent and distribution, and is exercisable during the Participant’s lifetime
only by him or her. No assignment or transfer of the Option, or the rights represented thereby, whether voluntary or involuntary, by operation
of law or otherwise (except to a designated beneficiary, upon death, by will or the laws of descent or distribution) will vest in the
assignee or transferee any interest or right herein whatsoever, but immediately upon such assignment or transfer the Option will terminate
and become of no further effect.

 

7.     
Change in Control.

 

7.1      
Acceleration of Vesting. In the event of a Change in Control, notwithstanding any provision of the Plan or this Agreement
to the contrary, the Option shall become immediately vested and exercisable with respect to 100% of the shares subject to the Option.
To the extent practicable, such acceleration of vesting and exercisability shall occur in a manner and at a time which allows the Participant
the ability to participate in the Change in Control with respect to the shares of Common Stock received.  

 

7.2      
Cash-out. In the event of a Change in Control, the Committee may, in its discretion and upon at least ten (10) days’
advance notice to the Participant, cancel the Option and pay to the Participant the value of the Option based upon the price per share
of Common Stock received or to be received by other shareholders of the Company in the event. Notwithstanding the foregoing, if at the
time of a Change in Control the Exercise Price of the Option equals or exceeds the price paid for a share of Common Stock in connection
with the Change in Control, the Committee may cancel the Option without the payment of consideration therefor.

 

8.     
Adjustments. The shares of Common Stock subject to the Option may be adjusted or terminated in any manner as contemplated
by Section 10 of the Plan.

 

9.     
Tax Liability and Withholding. Notwithstanding any action the Company takes with respect to any or all income tax,
social insurance, payroll tax, or other tax-related withholding (“Tax-Related Items”), the ultimate liability for all
Tax-Related Items is and remains the Participant’s responsibility and the Company (a) makes no representation or undertakings regarding
the treatment of any Tax-Related Items in connection with the grant, vesting, or exercise of the Option or the subsequent sale of any
shares acquired on exercise; and (b) does not commit to structure the Option to reduce or eliminate the Participant’s liability
for Tax-Related Items.

 

10. 
Qualification as an Incentive Stock Option. It is understood that this Option is intended to qualify as an incentive
stock option as defined in Section 422 of the Code to the extent permitted under Applicable Law. Accordingly, the Participant understands
that in order to obtain the benefits of an incentive stock option, no sale or other disposition may be made of shares for which incentive
stock option treatment is desired within one (1) year following the date of exercise of the Option or within two (2) years from the Grant
Date. The Participant understands and agrees that the Company shall not be liable or responsible for any additional tax liability the
Participant incurs in the event that the Internal Revenue Service for any reason determines that this Option does not qualify as an incentive
stock option within the meaning of the Code.

 

11. 
Disqualifying Disposition. If the Participant disposes of the shares of Common Stock prior to the expiration of either
two (2) years from the Grant Date or one (1) year from the date the shares are transferred to the Participant pursuant to the exercise
of the Option (a “Disqualifying Disposition”), the Participant shall notify the Company in writing within thirty (30)
days after such disposition of the date and terms of such disposition. The Participant also agrees to provide the Company with any information
concerning any such dispositions as the Company requires for tax purposes.

 

12. 
Enforcement of Non-competition and Non-solicitation Restrictions. In the event of a breach or threatened breach by
the Participant of any of the non-competition or non-solicitation covenants between the Participant and the Company, any unvested portion
of the Option shall be forfeited effective as of the date of such breach, unless sooner terminated by operation of another term or condition
of this Agreement or the Plan.

 

13. 
Compliance with Law. The exercise of the Option and the issuance and transfer of shares of Common Stock shall be
subject to compliance by the Company and the Participant with all applicable requirements of federal and state securities laws and with
all applicable requirements of any stock exchange on which the Company’s shares of Common Stock may be listed. No shares of Common
Stock shall be issued pursuant to this Option unless and until any then applicable requirements of state or federal laws and regulatory
agencies have been fully complied with to the satisfaction of the Company and its counsel. The Participant understands that the Company
is under no obligation to register the shares with the Securities and Exchange Commission, any state securities commission or any stock
exchange to effect such compliance.

 

 

    	 	3	 

     

    

 

14. 
Notices. Any notice required to be delivered to the Company under this Agreement shall be in writing and addressed
to the Secretary of the Company at the Company’s principal corporate offices. Any notice required to be delivered to the Participant
under this Agreement shall be in writing and addressed to the Participant at the Participant’s address as shown in the records of
the Company. Either party may designate another address in writing (or by such other method approved by the Company) from time to time.

 

15. 
Governing Law. This Agreement will be construed and interpreted in accordance with the laws of the State of Illinois
without regard to conflict of law principles.

 

16. 
Interpretation. Any dispute regarding the interpretation of this Agreement shall be submitted by the Participant
or the Company to the Committee for review. The resolution of such dispute by the Committee shall be final and binding on the Participant
and the Company.

 

17. 
Options Subject to Plan. This Agreement is subject to the Plan as approved by the Company’s shareholders. The
terms and provisions of the Plan as it may be amended from time to time are hereby incorporated herein by reference. In the event of a
conflict between any term or provision contained herein and a term or provision of the Plan, the applicable terms and provisions of the
Plan will govern and prevail.

 

18. 
Successors and Assigns. The Company may assign any of its rights under this Agreement. This Agreement will be binding
upon and inure to the benefit of the successors and assigns of the Company. Subject to the restrictions on transfer set forth herein,
this Agreement will be binding upon the Participant and the Participant’s beneficiaries, executors, administrators and the person(s)
to whom this Agreement may be transferred by will or the laws of descent or distribution.

 

19. 
Severability. The invalidity or unenforceability of any provision of the Plan or this Agreement shall not affect
the validity or enforceability of any other provision of the Plan or this Agreement, and each provision of the Plan and this Agreement
shall be severable and enforceable to the extent permitted by law.

 

20. 
Discretionary Nature of Plan. The Plan is discretionary and may be amended, cancelled or terminated by the Company
at any time, in its discretion. The grant of the Option in this Agreement does not create any contractual right or other right to receive
any Options or other Awards in the future. Future Awards, if any, will be at the sole discretion of the Company. Any amendment, modification,
or termination of the Plan shall not constitute a change or impairment of the terms and conditions of the Participant’s employment
with the Company.

 

21. 
Amendment. The Committee has the right to amend, alter, suspend, discontinue or cancel the Option, prospectively
or retroactively; provided, that, no such amendment shall adversely affect the Participant’s material rights under this Agreement
without the Participant’s consent.

 

22. 
No Impact on Other Benefits. The value of the Participant’s Option is not part of his or her normal or expected
compensation for purposes of calculating any severance, retirement, welfare, insurance or similar employee benefit.

 

23. 
Counterparts. This Agreement may be executed in counterparts, each of which shall be deemed an original but all of
which together will constitute one and the same instrument. Counterpart signature pages to this Agreement transmitted by facsimile transmission,
by electronic mail in portable document format (.pdf), or by any other electronic means intended to preserve the original graphic and
pictorial appearance of a document, will have the same effect as physical delivery of the paper document bearing an original signature.

 

24. 
Acceptance. The Participant hereby acknowledges receipt of a copy of the Plan and this Agreement. The Participant
has read and understands the terms and provisions thereof, and accepts the Option subject to all of the terms and conditions of the Plan
and this Agreement. The Participant acknowledges that there may be adverse tax consequences upon exercise of the Option or disposition
of the underlying shares and that the Participant should consult a tax advisor prior to such exercise or disposition.

 

 

 

[SIGNATURE PAGE FOLLOWS]

 

 

    	 	4	 

     

    

 

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

 

	 	
    Athena Bitcoin, Inc.

     

     

     

	 	
    By____________________________

     Eric Gravengaard

     CEO

     

     

	 	 
	 	
    By____________________________

     Name:

     

 

 

    	 	5

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