Document:

Exhibit
      10.13

     

    MODIGENE
      INC.

    
      STOCK
        INCENTIVE
        PLAN

       

    

    
      NON-QUALIFIED
        STOCK
        OPTION
        AWARD
        TERMS

    

     

    The
      Participant specified below has been granted this Option by Modigene
      Inc.,
      a
      Delaware corporation (the “Company”)
      under
      the terms of the Modigene
      Inc. Stock Incentive Plan
      (the
“Plan”). 
      The Option shall be subject to the following terms and conditions (the
“Option
      Terms”):

     

    Section
      1. Terms
      of Award. 
      The
      following words and phrases relating to the grant of the Option shall have
      the
      following meanings:

     

    (a) The
      “Participant”
is
                                                 .

     

    (b) The
      “Grant
      Date”
is
                                                 .

     

    (c) The
      number of “Covered
      Shares”
shall
      be [          ]
      shares
      of Stock.

     

    (d) The
      “Exercise
      Price”
is
      $1.50 per share.

     

    Except
      where the context clearly implies to the contrary, any capitalized term in
      this
      award shall have the meaning ascribed to that term under the Plan.

     

    Section
      2. Non-Qualified
      Stock Option. 
      The
      Option is not intended to constitute an “incentive stock option” as that term is
      used in Code section 422.

     

    Section
      3. Date
      of Exercise. 
      Subject
      to the limitations of the
      Option Terms,
      each
      installment of Covered Shares of the Option (“Installment”)
      shall
      become vested and exercisable on and after the “Vesting
      Date”
for
      such Installment as described in the following schedule (but only if the
      Participant’s Termination of Service has not occurred before the Vesting
      Date):

     

    
      	
              INSTALLMENT

            	 	
              VESTING
                DATE

              APPLICABLE
                TO INSTALLMENT

            
	
              1/3
                of Covered Shares

            	 	
              1st
                Anniversary of the Grant Date

            
	
              1/3
                of Covered Shares

            	 	
              2nd
                Anniversary of the Grant Date

            
	
              1/3
                of Covered Shares

            	 	
              3rd
                Anniversary of the Grant Date

            

    

    

    (a) Notwithstanding
      the foregoing provisions of this Section
      3,
      the
      Option shall become fully exercisable upon a Change of Control that occurs
      on or
      before the Participant’s Termination of Service.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    (b) The
      Option may only be exercised on or after the Participant’s Termination of
      Service only as to that portion of the Covered Shares for which it was
      exercisable immediately prior to the Participant’s Termination of Service, or
      became exercisable on the date of the Participant’s Termination of
      Service.

     

    Section
      4. Expiration. 
      The
      Option shall not be exercisable after the Company’s close of business on the
      last business day that occurs prior to the Expiration Date.  The
“Expiration Date” shall be the earliest to occur of:

     

    (a) the
      ten-year anniversary of the Grant Date; or

     

    (b) the
      twelve (12) month anniversary of the Participant’s Termination of Service if the
      termination of employment occurs due to death or Disability; or

     

    (c) the
      90th
      day
      following Participant’s Termination of Service if the termination of employment
      occurs for reasons other than death or Disability.

     

    Section
      5. Method
      of Option Exercise. 
      Subject
      to the Option Terms and the Plan, the Option may be exercised in whole or in
      part by filing a written notice with the Secretary of the Company at its
      corporate headquarters prior to the Company’s close of business on the last
      business day that occurs prior to the Expiration Date.  Such notice shall
      specify the number of shares of Stock which the Participant elects to purchase,
      and shall be accompanied by payment of the Exercise Price for such shares of
      Stock indicated by the Participant’s election. Payment may be by cash or,
      subject to limitations imposed by applicable law, by such means as the Committee
      from time to time may permit, including, (i) in Common Stock, either actually
      or
      by attestation, valued at its Fair Market Value on the date of exercise,
      provided it has been owned by the Participant for at least six (6) months prior
      to exercise; (ii) by any combination of cash and Common Stock held by the
      Participant for at least six (6) months prior to exercise; or (iii) any other
      consideration that the Committee deems appropriate and in compliance with
      applicable law. If payment is made pursuant to clauses (i) or (ii) above, the
      Participant’s election must be made on or prior to the date of exercise of the
      Option and must be irrevocable. The Option shall not be exercisable if and
      to
      the extent the Company determines that such exercise would violate applicable
      state or federal securities laws or the rules and regulations of any securities
      exchange on which the Stock is traded and shall not be exercisable during any
      blackout period established by the Company from time to time.

     

    Section
      6. Withholding. 
      The
      exercise of the Option is subject to withholding of all applicable taxes. 
At the election of the Participant, and subject to such rules and limitations
      as
      may be established by the Committee from time to time, such withholding
      obligations may be satisfied (i) through cash payment by the Participant;
      or (ii) subject to the Committee’s discretion, through the surrender of shares
      of Stock to which the Participant is otherwise entitled under the Plan;
provided,
      however, that
      such
      shares under this clause (ii) may be used to satisfy not more than the Company’s
      minimum statutory withholding obligation (based on minimum statutory withholding
      rates for federal and state tax purposes, including payroll taxes, that are
      applicable to such supplemental taxable income).

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

    Section
      7. Transferability. 
      The
      Option is not transferable by the Participant other than by will or by the
      laws
      of descent and distribution, and during the Participant’s life, may be exercised
      only by the Participant.  It may not be assigned, transferred (except as
      aforesaid), pledged or hypothecated by the Participant in any way whether by
      operation of law or otherwise, and shall not be subject to execution, attachment
      or similar process.  Any attempt at assignment, transfer, pledge or
      hypothecation, or other disposition of this Option contrary to the provisions
      hereof, and the levy of any attachment or similar process upon this option,
      shall be null and void and without effect. Notwithstanding the above, an Option
      may be assigned, transferred, pledged or hypothecated: by the Beneficiary
      Designation, by will or the laws of descent and distribution.

     

    Section
      8. Participant’s
      Representations and Shareholders Agreement.
      In
      the
      event the shares of Stock have not been registered under the Securities Act
      at
      the time this Option is exercised, the Participant shall, if required by the
      Company, concurrently with the exercise of all or any portion of this Option
      (i) deliver to the Company his or her Investment Representation Statement
      in the form attached hereto as Exhibit A; and (ii) agree to execute and
      become a party to the Shareholders Agreement, as may be in effect on such
      date.

     

    Section
      9. Heirs
      and Successors. 
      The
      Option Terms shall be binding upon, and inure to the benefit of, the Company
      and
      its successors and assigns, and upon any person acquiring, whether by merger,
      consolidation, purchase of assets or otherwise, all or substantially all of
      the
      Company’s assets and business. If any rights of the Participant or benefits
      distributable to the Participant under this Agreement have not been exercised
      or
      distributed, respectively, at the time of the Participant’s death, such rights
      shall be exercisable by the Designated Beneficiary, and such benefits shall
      be
      distributed to the Designated Beneficiary, in accordance with the provisions
      of
      this Agreement and the Plan. The “Designated
      Beneficiary”
shall
      be the beneficiary or beneficiaries designated by the Participant in a writing
      filed with the Committee in such form and at such time as the Committee shall
      require. If a deceased Participant fails to designate a beneficiary, or if
      the
      Designated Beneficiary does not survive the Participant, any rights that would
      have been exercisable by the Participant and any benefits distributable to
      the
      Participant shall be exercised by or distributed to the legal representative
      of
      the estate of the Participant. If a deceased Participant designates a
      beneficiary and the Designated Beneficiary survives the Participant but dies
      before the Designated Beneficiary’s exercise of all rights under this Agreement
      or before the complete distribution of benefits to the Designated Beneficiary
      under this Agreement, then any rights that would have been exercisable by the
      Designated Beneficiary shall be exercised by the legal representative of the
      estate of the Designated Beneficiary, and any benefits distributable to the
      Designated Beneficiary shall be distributed to the legal representative of
      the
      estate of the Designated Beneficiary. 

     

    Section
      10. Administration. 
      The
      authority to manage and control the operation and administration of the Option
      Terms and the Plan shall be vested in the Committee, and the Committee shall
      have all powers with respect to the Option Terms as it has with respect to
      the
      Plan. Any interpretation of the Option Terms or the Plan by the Committee and
      any decision made by it with respect to the Option Terms or the Plan are final
      and binding on all persons.

     

    Section
      11. Plan
      Governs.
      Notwithstanding
      anything in the Option Terms to the contrary, the Option Terms shall be subject
      to the terms of the Plan, a copy of which may be obtained by the Participant
      from the office of the Secretary of the Company; and the Option Terms are
      subject to all interpretations, amendments, rules and regulations promulgated
      by
      the Committee from time to time pursuant to the Plan.

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

     

    Section
      12. Not
      An Employment Contract.
      The
      Option will not confer on the Participant any right with respect to continuance
      of employment or other service with the Company or any Related Company, nor
      will
      it interfere in any way with any right the Company or any Related Company would
      otherwise have to terminate or modify the terms of such Participant’s employment
      or other service at any time.

     

    Section
      13. No
      Rights As Shareholder. 
      The
      Participant shall not have any rights of a shareholder with respect to the
      Shares subject to the Option, until a stock certificate has been duly issued
      following exercise of the Option as provided herein.

     

    Section
      14. Amendment. 
      The
      Option Terms may be amended in accordance with the provisions of the Plan,
      and
      may otherwise be amended by written agreement of the Participant and the Company
      without the consent of any other person.

     

    Section
      16. Section
      409A Amendment.
      The
      Committee reserves the right (including the right to delegate such right) to
      unilaterally amend this Agreement without the consent of the Participant to
      maintain compliance with Code Section 409A. Participant’s acceptance of this
      Award constitutes acknowledgement and consent to such rights of the
      Committee.

     

    IN
      WITNESS WHEREOF,
      the
      Company has caused this Agreement to be executed on its behalf by a duly
      authorized officer and Participant has executed this Agreement.

     

    
      	PARTICIPANT	 	 	MODIGENE INC.
	 	 	 	 
	
            	 	 	By: 
	
              
                

              

              Signature

            	 	 	
              
                
 

            
	
            	 	 	Its: 
	
              
                

              

              Print
                Name

            	 	 	
              
                

              

            

    

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

         
EXHIBIT
      A

    INVESTMENT
      REPRESENTATION STATEMENT

     

    [This
      form is to be completed at the time option is exercised, 

    unless
      stock is publicly traded at that time.]

     

    Effective
      as of ___________________ [insert
      date of option exercise]
      (the
“Effective Date”), the undersigned (“Participant”) has elected to purchase
      __________ shares of the Stock (the “Shares”) of Modigene Inc. (the “Company”)
      under and pursuant to the Modigene Inc. Stock Incentive Plan (the “Plan”) and
      the Non-Qualified Stock Option Terms dated ______________ [insert
      grant date of option]
      (the
“Option Terms”). The Participant hereby makes the following certifications,
      representations, warranties and agreements with respect to the purchase of
      the
      Shares:

     

    The
      Participant acknowledges that he or she is aware of the Company’s business
      affairs and financial condition and has acquired sufficient information about
      the Company to reach an informed and knowledgeable decision to acquire the
      Shares. The Participant represents and warrants to the Company that he or she
      is
      acquiring these Shares for investment for the Participant’s own account only and
      not with a view to, or for resale in connection with, any “distribution” thereof
      within the meaning of the Securities Act of 1933, as amended (the “Securities
      Act”).

     

    The
      Participant further acknowledges that the Shares have not been registered under
      the Securities Act, are deemed to constitute “restricted securities” under Rule
      701 and Rule 144 promulgated under the Securities Act and must be held
      indefinitely unless they are subsequently registered under the Securities Act
      and qualified under any applicable state securities laws or an exemption from
      such registration and qualification is available. The Participant further
      acknowledges that the Company is under no obligation to register the
      Shares.

     

    The
      Participant further acknowledges that he or she is familiar with the provisions
      of Rule 144, which, in substance, permits limited public resale of “restricted
      securities” acquired, directly or indirectly from the issuer thereof, in a
      non-public offering subject to the satisfaction of certain conditions. The
      Participant further acknowledges that in the event all of the applicable
      requirements of Rule 144 are not satisfied, registration under the Securities
      Act, compliance with Regulation A, or some other registration exemption will
      be
      required in order to resell the Shares. The Participant understands that no
      assurances can be given that any such registration will be made or any such
      exemption will be available in such event.

     

    The
      Participant further acknowledges and understands that all certificates
      representing any of the Shares shall have endorsed thereon appropriate legends
      reflecting the foregoing limitations, as well as any legends reflecting any
      other restrictions pursuant to the Company’s Articles of Incorporation, Bylaws,
      the Option, the Plan and/or applicable securities laws.

     

    The
      Participant further agrees that, if so requested by the Company or any
      representative of the underwriters (the “Managing Underwriter”) in connection
      with any registration of the offering of any securities of the Company under
      the
      Securities Act, the Participant shall not sell or otherwise transfer any Shares
      or other securities of the Company during the 180-day period, or such other
      period as may be requested in writing by the Managing Underwriter and agreed
      to
      in writing by the Company (the “Market Standoff Period”), following the
      effective date of a registration statement of the Company filed under the
      Securities Act. Such restriction shall apply only to the first registration
      statement of the Company to become effective under the Securities Act that
      includes securities to be sold on behalf of the Company to the public in an
      underwritten public offering under the Securities Act. The Company may impose
      stop-transfer instructions with respect to securities subject to the foregoing
      restrictions until the end of such Market Standoff Period.

     

    
      
        
        

      

      
        A-1

        
          

        

      

      
        
        

      

    

     

    The
      Participant further acknowledges and agrees that the Company shall not be
      required (i) to transfer on its books any Shares that have been sold or
      otherwise transferred in violation of any of the representations, warranties,
      agreements or other provisions contained in this Notice of Exercise or (ii)
      to
      treat as owner of such Shares or to accord the right to vote or pay dividends
      to
      any purchaser or other transferee to whom such Shares shall have been so
      transferred.

     

    
      	 	 	
              Submitted
                by Participant:

            
	 
 	 
 	 
 
	 	
              

              Signature

            

    

     

    
      
        
        

      

      
        A-2Exhibit
        10.14

       

      Modigene
        Inc.

       

      
        2007
          EQUITY
          INCENTIVE
          PLAN

         

      

      
        NON-QUALIFIED
          STOCK
          OPTION
          AGREEMENT

      

       

      The
        Participant specified below has been granted this Option by Modigene
        Inc.,
        a
        Nevada corporation (the “Company”)
        under
        the terms of the Modigene
        Inc. 2007 Equity Incentive Plan
        (the
“Plan”). 
        The Option shall be subject to the following terms and conditions (the
“Option
        Terms”):

       

      Section
        1. Terms
        of Award. 
        The
        following words and phrases relating to the grant of the Option shall have
        the
        following meanings:

       

      (a) The
        “Participant”
is
                                                   .

       

      (b) The
        “Date
        of Grant”
is
                                                   .

       

      (c) The
        number of “Covered
        Shares”
shall
        be [_____] shares of Company Stock.

       

      (d) The
        “Exercise
        Price”
is
        [$_____] per share.

       

      Except
        where the context clearly implies to the contrary, and unless otherwise defined
        herein, any capitalized term in this Agreement shall have the meaning ascribed
        to that term under the Plan.

       

      Section
        2. Non-Qualified
        Stock Option. 
        The
        Option is not intended to constitute an “incentive stock option” as that term is
        used in Code Section 422.

       

      Section
        3. Date
        of Exercise. 
        Subject
        to the limitations of the
        Option Terms,
        each
        installment of Covered Shares of the Option (“Installment”)
        shall
        become vested and exercisable on and after the “Vesting
        Date”
for
        such Installment as described in the following schedule (but only if the
        Participant’s Date of Termination has not occurred before the Vesting
        Date):

       

      
        	
                INSTALLMENT

              	 	
                VESTING
                  DATE

                APPLICABLE
                  TO INSTALLMENT

              
	
                1/3
                  of Covered Shares

              	 	
                1st
                  Anniversary of the Date of Grant

              
	
                1/3
                  of Covered Shares

              	 	
                2nd
                  Anniversary of the Date of Grant

              
	
                1/3
                  of Covered Shares

              	 	
                3rd
                  Anniversary of the Date of Grant

              

      

      

      The
        Option may be exercised on or after the Date of Termination only as to that
        portion of Covered Shares for which it was exercisable immediately prior
        to the
        Date of Termination, or became exercisable on the Date of
        Termination.

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      For
        purposes of this Agreement, “Date
        of Termination”
shall
        mean the first day occurring on or after the Date of Grant on which the
        Participant is not employed by, or providing services to, the Company or
        an
        Affiliate, regardless of the reason for termination of employment or service;
        provided
        that a
        termination of employment, or separation from service, shall not be deemed
        to
        occur by reason of a transfer of the Participant between the Company and
        an
        Affiliate or any other related entity; provided
        further
        that the
        Participant’s employment, or service, shall be treated as continuing intact
        while the Participant is on military or sick leave or other bona fide leave
        of
        absence if such leave does not exceed 90 days or, if longer, so long as the
        Participant’s right to reemployment is guaranteed either by statute or
        contract.

       

      Notwithstanding
        the foregoing provisions of this Section
        3,
        the
        Option shall become fully and immediately vested upon a Change of Control
        that
        occurs on or before the Participant’s Date of Termination.

       

      Section
        4. Expiration. 
        Subject
        to earlier termination of the Option as otherwise provided in the Plan, the
        Option shall not be exercisable after the Company’s close of business on the
        last business day that occurs prior to the Expiration Date.  The
“Expiration
        Date”
shall
        be the earliest to occur of:

       

      (a) the
        ten-year anniversary of the Date of Grant;

       

      (b) the
        Date
        of Termination, if the Participant’s employment with, or service to, the Company
        or an Affiliate is terminated for Cause or as a result of a voluntary
        termination of employment or service by the Participant;

       

      (c) the
        three-month anniversary of the Date of Termination, if the Participant’s
        employment with, or service to, the Company or an Affiliate is terminated
        for
        any reason other than Cause or as a result of a voluntary termination of
        employment or service by the Participant; provided,
        however, if
        the
        Participant dies prior to the expiration of such three-month period, the
        Participant’s Beneficiary may exercise the Option for one year following the
        date of the Participant’s death unless the Expiration Date occurs sooner
        pursuant to subsection 4(a) above; or

       

      (d) the
        one-year anniversary of the Date of Termination, if the Participant’s employment
        with, or service to, the Company or an Affiliate is terminated as a result
        of
        Disability or death.

       

      Section
        5. Method
        of Option Exercise. 
        Subject
        to the Option Terms and the Plan, the Option may be exercised in whole or
        in
        part by filing a written notice with the Secretary of the Company at its
        corporate headquarters prior to the Company’s close of business on the last
        business day that occurs prior to the Expiration Date.  Such notice shall
        specify the number of Covered Shares which the Participant elects to purchase,
        and shall be accompanied by, or followed within ten days of delivery thereof,
        payment of the Exercise Price for such Covered Shares indicated by the
        Participant’s election. Payment may be by cash or, subject to limitations
        imposed by applicable law, by such means as the Committee from time to time
        may
        permit, including, (i) by delivery or attestation of Mature Shares (valued
        at
        their Fair Market Value); (ii) by delivery of a properly executed exercise
        notice with irrevocable instructions to a broker to deliver to the Company
        the
        amount necessary to pay the exercise price from the sale; (iii) by delivery
        of
        any other consideration that the Committee deems appropriate and in compliance
        with applicable law; or (iv) by delivery of any combination of the foregoing,
        as
        the Committee may allow from time-to-time. Unless
        prior to the exercise of the Option the shares issuable upon such exercise
        have
        been registered with the Commission pursuant to the Securities Act, the notice
        of exercise shall be accompanied by a representation or agreement of the
        individual or entity exercising the Option to the Company to the effect that
        such shares are being acquired for investment purposes and not with a view
        to
        the distribution thereof, and such other documentation as may be required
        by the
        Company, unless in the opinion of counsel to the Company such representation,
        agreement or documentation is not necessary to comply with any such
        act.
        The
        Company shall not be obligated to deliver any Company Stock until the shares
        have been listed on each securities exchange or market on which the Company
        Stock may then be listed or until there has been qualification under or
        compliance with such federal or state laws, rules or regulations as the Company
        may deem applicable. The
        Option shall not be exercisable if and to the extent the Company determines
        that
        such exercise would violate applicable state or federal securities laws or
        the
        rules and regulations of any securities exchange on which the Company Stock
        is
        traded and shall not be exercisable during any blackout period established
        by
        the Company from time to time.

       

      
        
          
          

        

        
          2

          
            

          

        

        
          
          

        

      

       

      Section
        6. Withholding. 
        The
        exercise of the Option is subject to withholding of all applicable taxes. 
At the election of the Participant, and subject to such rules and limitations
        as
        may be established by the Committee from time to time, such withholding
        obligations may be satisfied (i) through cash payment by the Participant;
        (ii) through authorized additional withholding from cash compensation otherwise
        due the Participant; or (iii) subject to the Committee’s discretion, through the
        surrender of Company Stock to which the Participant is otherwise entitled
        under
        the Plan; provided,
        however, that
        such
        shares under this clause (iii) may be used to satisfy not more than the
        Company’s minimum statutory withholding obligation (based on minimum statutory
        withholding rates for federal and state tax purposes, including payroll taxes,
        that are applicable to such supplemental taxable income).

       

      Section
        7. Transferability. 
        The
        Option is not transferable by the Participant other than by will or by the
        laws
        of descent and distribution or pursuant to a qualified domestic relations
        order,
        as defined in the Code or Title I of the Employee Retirement Income Security
        Act
        of 1974, as amended, and during the Participant’s life, may be exercised only by
        the Participant (or an alternate payee under a qualified domestic relations
        order).  It may not be assigned, transferred (except as aforesaid), pledged
        or hypothecated by the Participant in any way whether by operation of law
        or
        otherwise, and shall not be subject to execution, attachment or similar
        process.  Any attempt at assignment, transfer, pledge or hypothecation, or
        other disposition of this Option contrary to the provisions hereof, and the
        levy
        of any attachment or similar process upon this option, shall be null and
        void
        and without effect.

       

      Section
        8. Participant’s
        Representations and Shareholders Agreement.
        In
        the
        event the Covered Shares have not been registered under the Securities Act
        at
        the time this Option is exercised, the Participant shall, if required by
        the
        Company, concurrently with the exercise of all or any portion of this Option
        (i) deliver to the Company his or her Investment Representation Statement
        in the form attached hereto as Exhibit A; and (ii) agree to execute and
        become a party to the Shareholders Agreement, as may be in effect on such
        date.

       

      
        
          
          

        

        
          3

          
            

          

        

        
          
          

        

      

       

      Section
        9. Heirs
        and Successors. 
        The
        Option Terms shall be binding upon, and inure to the benefit of, the Company
        and
        its successors and assigns, and upon any person acquiring, whether by merger,
        consolidation, purchase of assets or otherwise, all or substantially all
        of the
        Company’s assets and business. If any rights of the Participant or benefits
        distributable to the Participant under this Agreement have not been exercised
        or
        distributed, respectively, at the time of the Participant’s death, such rights
        shall be exercisable by the Designated Beneficiary, and such benefits shall
        be
        distributed to the Designated Beneficiary, in accordance with the provisions
        of
        this Agreement and the Plan. The “Designated
        Beneficiary”
shall
        be the beneficiary or beneficiaries designated by the Participant in a writing
        filed with the Committee in such form and at such time as the Committee shall
        require. If a deceased Participant fails to designate a beneficiary, or if
        the
        Designated Beneficiary does not survive the Participant, any rights that
        would
        have been exercisable by the Participant and any benefits distributable to
        the
        Participant shall be exercised by or distributed to the legal representative
        of
        the estate of the Participant. If a deceased Participant designates a
        beneficiary and the Designated Beneficiary survives the Participant but dies
        before the Designated Beneficiary’s exercise of all rights under this Agreement
        or before the complete distribution of benefits to the Designated Beneficiary
        under this Agreement, then any rights that would have been exercisable by
        the
        Designated Beneficiary shall be exercised by the legal representative of
        the
        estate of the Designated Beneficiary, and any benefits distributable to the
        Designated Beneficiary shall be distributed to the legal representative of
        the
        estate of the Designated Beneficiary. 

       

      Section
        10. Administration. 
        The
        authority to manage and control the operation and administration of the Option
        Terms and the Plan shall be vested in the Committee, and the Committee shall
        have all powers with respect to the Option Terms as it has with respect to
        the
        Plan. Any interpretation of the Option Terms or the Plan by the Committee
        and
        any decision made by it with respect to the Option Terms or the Plan are
        final
        and binding on all persons.

       

      Section
        11. Plan
        Governs.
        Notwithstanding
        anything in the Option Terms to the contrary, the Option Terms shall be subject
        to the terms of the Plan, a copy of which may be obtained by the Participant
        from the office of the Secretary of the Company; and the Option Terms are
        subject to all interpretations, amendments, rules and regulations promulgated
        by
        the Committee from time to time pursuant to the Plan.

       

      Section
        12. Not
        An Employment Contract.
        The
        Option will not confer on the Participant any right with respect to continuance
        of employment or other service with the Company or any Affiliate, nor will
        it
        interfere in any way with any right the Company or any Affiliate would otherwise
        have to terminate or modify the terms of such Participant’s employment or other
        service at any time.

       

      Section
        13. No
        Rights As Shareholder. 
        The
        Participant shall not have any rights of a shareholder with respect to the
        Shares subject to the Option, until a stock certificate has been duly issued
        following exercise of the Option as provided herein.

       

      Section
        14. Amendment. 
        The
        Option Terms may be amended in accordance with the provisions of the Plan,
        and
        may otherwise be amended by written agreement of the Participant and the
        Company
        without the consent of any other person.

       

      
        
          
          

        

        
          4

          
            

          

        

        
          
          

        

      

       

      Section
        16. Section
        409A Amendment.
        The
        Committee reserves the right (including the right to delegate such right)
        to
        unilaterally amend this Agreement without the consent of the Participant
        to
        maintain compliance with Code Section 409A. Participant’s acceptance of this
        Award constitutes acknowledgement and consent to such rights of the
        Committee.

       

      IN
        WITNESS WHEREOF,
        the
        Company has caused this Agreement to be executed on its behalf by a duly
        authorized officer and Participant has executed this Agreement.

       

      
        	PARTICIPANT	 	 	MODIGENE INC.
	 	 	 	 
	 	 	 	By: 
	
                
                  

                

                Signature

              	 	 	
                
                  
 

              
	 	 	 	Its: 
	
                
                  

                

                Print
                  Name

              	 	 	
                
                  
 

              

      

       

      
        
          
          

        

        
          5

          
            

          

        

        
          
          

        

      

       

      EXHIBIT
        A

      INVESTMENT
        REPRESENTATION STATEMENT

       

      [This
        form is to be completed at the time option is exercised,

      unless
        stock is publicly traded at that time.]

       

      Effective
        as of ___________________ [insert
        date of option exercise]
        (the
“Effective Date”), the undersigned (“Participant”) has elected to purchase
        __________ shares of the common stock (the “Shares”) of Modigene Inc. (the
“Company”) under and pursuant to the Modigene Inc. 2007 Equity Incentive Plan
        (the “Plan”) and the Non-Qualified Stock Option Agreement dated ______________
[insert
        date of grant of option]
        (the
“Option Terms”). The Participant hereby makes the following certifications,
        representations, warranties and agreements with respect to the purchase of
        the
        Shares:

       

      The
        Participant acknowledges that he or she is aware of the Company’s business
        affairs and financial condition and has acquired sufficient information about
        the Company to reach an informed and knowledgeable decision to acquire the
        Shares. The Participant represents and warrants to the Company that he or
        she is
        acquiring these Shares for investment for the Participant’s own account only and
        not with a view to, or for resale in connection with, any “distribution” thereof
        within the meaning of the Securities Act of 1933, as amended (the “Securities
        Act”).

       

      The
        Participant further acknowledges that the Shares have not been registered
        under
        the Securities Act, are deemed to constitute “restricted securities” under Rule
        701 and Rule 144 promulgated under the Securities Act and must be held
        indefinitely unless they are subsequently registered under the Securities
        Act
        and qualified under any applicable state securities laws or an exemption
        from
        such registration and qualification is available. The Participant further
        acknowledges that the Company is under no obligation to register the
        Shares.

       

      The
        Participant further acknowledges that he or she is familiar with the provisions
        of Rule 144, which, in substance, permits limited public resale of “restricted
        securities” acquired, directly or indirectly from the issuer thereof, in a
        non-public offering subject to the satisfaction of certain conditions. The
        Participant further acknowledges that in the event all of the applicable
        requirements of Rule 144 are not satisfied, registration under the Securities
        Act, compliance with Regulation A, or some other registration exemption will
        be
        required in order to resell the Shares. The Participant understands that
        no
        assurances can be given that any such registration will be made or any such
        exemption will be available in such event.

       

      The
        Participant further acknowledges and understands that all certificates
        representing any of the Shares shall have endorsed thereon appropriate legends
        reflecting the foregoing limitations, as well as any legends reflecting any
        other restrictions pursuant to the Company’s Articles of Incorporation, Bylaws,
        the Option, the Plan and/or applicable securities laws.

       

      The
        Participant further agrees that, if so requested by the Company or any
        representative of the underwriters (the “Managing Underwriter”) in connection
        with any registration of the offering of any securities of the Company under
        the
        Securities Act, the Participant shall not sell or otherwise transfer any
        Shares
        or other securities of the Company during the 180-day period, or such other
        period as may be requested in writing by the Managing Underwriter and agreed
        to
        in writing by the Company (the “Market Standoff Period”), following the
        effective date of a registration statement of the Company filed under the
        Securities Act. Such restriction shall apply only to the first registration
        statement of the Company to become effective under the Securities Act that
        includes securities to be sold on behalf of the Company to the public in
        an
        underwritten public offering under the Securities Act. The Company may impose
        stop-transfer instructions with respect to securities subject to the foregoing
        restrictions until the end of such Market Standoff Period.

       

      
        
          
          

        

        
          A-1

          
            

          

        

        
          
          

        

      

       

      The
        Participant further acknowledges and agrees that the Company shall not be
        required (i) to transfer on its books any Shares that have been sold or
        otherwise transferred in violation of any of the representations, warranties,
        agreements or other provisions contained in this Notice of Exercise or (ii)
        to
        treat as owner of such Shares or to accord the right to vote or pay dividends
        to
        any purchaser or other transferee to whom such Shares shall have been so
        transferred.

       

      
        	 	 	
                Submitted
                  by Participant:

              
	 
 	 
 	 
 
	 	
                

                Signature

              

      

       

      
        
          
          

        

        
          A-2

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