Document:

Employment Agreement

 Exhibit 10.1 
 EMPLOYMENT AGREEMENT 
 This Employment Agreement (“Agreement”) is made and
entered into as of October 20, 2006 by and between Murray Kawchuk (“Kawchuk”) and Axesstel, Inc., a Nevada corporation (“Axesstel”), with respect to the following facts: 
 A. Axesstel wishes to employ Kawchuk as Senior Vice President of Sales and Corporate Marketing of Axesstel, and Kawchuk wishes to be employed as Senior
Vice President of Sales and Corporate Marketing of Axesstel. 
 B. Axesstel and Kawchuk wish to set forth in this Agreement the terms and
conditions under which Kawchuk is to be employed by Axesstel. 
 NOW, THEREFORE, for good and valuable consideration, the receipt and
sufficiency of which are hereby mutually acknowledged, Axesstel and Kawchuk hereby agree as follows: 
 1. Employment

 1.1 Title. Axesstel hereby employs Kawchuk as Senior Vice President of Sales and Corporate Marketing of
Axesstel, and Kawchuk shall have the duties, responsibilities and authority consistent with such position as described in Section 1.1 hereof. 
 1.2 Duties. For so long as he is employed hereunder, Kawchuk (i) shall devote his full professional time and attention, best efforts, energy and skills to the services required of him as an employee of
Axesstel, except for paid time off taken in accordance with Axesstel’s policies and practices and subject to Axesstel’s existing policies pertaining to reasonable periods of absence due to sickness, personal injury or other disability and
outside activities authorized under Section 2.1 below; (ii) shall use his best efforts to promote the interests of Axesstel; (iii) shall comply with all applicable governmental laws, rules and regulations and with all of
Axesstel’s policies, rules and/or regulations applicable to the employees of Axesstel; and (iv) shall discharge his responsibilities in a diligent and faithful manner, consistent with sound business practices and in accordance with the
directives of the CEO and the Board of Directors of Axesstel. Kawchuk shall report directly to Axesstel’s CEO. Kawchuk’s primary responsibilities during his employment with Axesstel shall be to (a) manage all of Axesstel’s sales
and corporate marketing activities; (b) be responsible for top line revenue results for the corporation, and (c) perform any other duties assigned to him by Axesstel’s CEO. 
 1.3 At Will Employment. Executive’s employment under this Agreement shall be “at will”. The employment
relationship between Axesstel and Kawchuk may be terminated by Kawchuk or by Axesstel at any time, with or without cause. 
 1.4 Location. Kawchuk acknowledges that Axesstel’s principal executive offices are located in San Diego, California. Kawchuk’s principal place of employment shall be located in Texas. Axesstel shall provide Kawchuk with
administrative support, on a shared basis, out of its offices in San Diego, California. Kawchuk agrees that he will be present at Axesstel’s principal executive offices as necessary to carry out his assigned responsibilities. 

 
Kawchuk acknowledges that he may be required to travel from time to time in the course of performing his duties. 
 1.5 Life Insurance. If requested by Axesstel to do so, Kawchuk will cooperate with Axesstel’s efforts to procure a term life
insurance policy on Kawchuk. 
 2. Outside Activities 
 2.1 Outside Activities. During the period of his employment, Kawchuk may serve on boards of directors (or similar body) of other
business entities, or provide advisory and other services thereto; provided, that such activities do not interfere with the effective discharge of his duties and responsibilities to Axesstel, the nature of such service is disclosed to the Board of
Directors of Axesstel and the Board consents to Kawchuk’s rendering such service, which consent shall not be unreasonably withheld or delayed. Axesstel acknowledges that Kawchuck currently serves on the Advisory Board of Magnolia Broadband,
Inc. and hereby consents to that service 
 2.2 Investment. Nothing in this Article 2 shall be construed as preventing
Kawchuk from engaging in the investment of his personal assets so long as such investment activity does not require: (1) any participation on Kawchuk’s part in the operation or the affairs of the enterprise or enterprises in which such
investments are made or (2) the rendering of any services by Kawchuk to any such enterprise. 
 3. Compensation

 3.1 Sign on Bonus. On the effectiveness of this Agreement, Axesstel will pay to Kawchuk a sign on bonus of
$50,000 less applicable withholding taxes. In the event that Kawchuk voluntarily terminates his employment with Axesstel prior to the one year anniversary of this Agreement, then Kawchuk shall repay to Axesstel the full amount of the sign on bonus.

 3.2 Base Salary. Axesstel shall pay Kawchuk an annual base salary of two hundred and fifty thousand dollars
($250,000) less applicable withholding taxes (“Base Salary”). Base Salary payments will be made to Kawchuk in accordance with Axesstel’s pay period practices. 
 3.3 Performance Bonus. During the period of his employment, Kawchuk shall be eligible to receive a performance bonus
(“Performance Bonus”) in a target amount equal to two hundred and fifty thousand dollars ($250,000) per annum, based on the attainment of 100% of personal and company results to be established by the CEO of Axesstel. The Performance
Bonus will be payable quarterly or semi-annually based on the specific personal and company results established by the CEO of Axesstel. Notwithstanding the foregoing, the parties agree that Kawchuk shall have earned and shall be paid his Performance
Bonus for the period from the inception of his employment through the end of the first fiscal quarter of 2007 in an amount equal to the pro rata portion of the Performance Bonus at 100% of the annual target amount. Kawchuk shall be eligible for
additional performance based bonus, in the event that the performance exceeds 100% of established goals. 
  

 2 

 3.4 Car Allowance. Axesstel shall pay Kawchuk a car allowance of $1,000 per month
that will be included in the normal salary payments and is subject to all normal withholding taxes. 
 3.5 Membership
Dues. During the period of his employment, Axesstel shall pay for the monthly dues, but not any initiation fees, for membership in the Sports Club, currently approximately $600 per month. 
 3.6 Adjustment. Kawchuk’s Base Salary and Performance Bonus shall be subject to annual increases on or about the anniversary
of this Agreement. Increases, if any, shall be at the sole discretion of the CEO and the Board of Directors of Axesstel. 
 4.
Benefits. During his employment, Kawchuk shall accrue and be entitled to take paid vacation in accordance with Axesstel’s vacation policies in effect from time to time, including Axesstel’s policies regarding vacation accruals;
provided that Kawchuk’s rate of vacation accrual during the Period of Employment shall be no less than three (3) weeks per year. Notwithstanding the foregoing, Kawchuk shall cease to accrue further vacation at any time that Kawchuk has an
unused vacation accrual of four (4) weeks. Kawchuk shall also be entitled to all other holiday and leave pay generally available to other executives of Axesstel. During his employment, Kawchuk shall be entitled to participate in all employee
benefit, group health and life insurance, retirement, 401(k) and other benefit plans of Axesstel under the terms and conditions of such plan or programs. 
 5. Stock Options. On the effective date of this Agreement, Kawchuk shall be granted Options to purchase 400,000 shares of Axesstel’s Common Stock under Axesstel’s 2004 Equity Incentive Plan at
the fair market value of such Common Stock as of the close of business on the first day of employment pursuant to the terms of a stock option agreement in the form attached hereto as Exhibit A. 
 6. Business Expenses. Upon presentation of appropriate documentation, Axesstel shall reimburse Kawchuk for reasonable, out-of-pocket
business expenses incurred by Kawchuk in the course of his performance of his duties hereunder, including entertainment expenses incurred at the Sports Club related to Axesstel’s business in accordance with Axesstel’s expense reimbursement
policy. Kawchuk will submit monthly expense reports for approval by the Chief Executive Officer or Chief Financial Officer of Axesstel. Kawchuk will initially work out of a home office and Axesstel will reimburse Kawchuk reasonable expenses related
to the organization and set up of that office, including without limitation, telephone and Internet service, a laptop, cell phone and personal digital assistant. 
 7. Former Employment 
 7.1 No Conflict. Kawchuk represents and warrants
that the execution and delivery by him of this Agreement, his employment by Axesstel and his performance of duties under this Agreement will not conflict with and will not be constrained by any prior employment or consulting agreement or
relationship, or any other contractual obligations. 
 7.2 No Use of Prior Confidential Information. Kawchuk will not
intentionally disclose to Axesstel or use on its behalf any confidential information belonging to any of his 

  

 3 

 
former employers, but during his employment by Axesstel he will use in the performance of his duties all information (but only such information) which is
generally known and used by persons with training and experience comparable to his own or is common knowledge in the industry or otherwise legally in the public domain. 
 8. Non-Solicitation; Confidentiality; Remedies 
 8.1 No Solicitation.
During the Restricted Period (as defined below), neither Kawchuk nor any Executive-Controlled Person (as defined below) will, without the prior written consent of Axesstel’s Board of Directors, directly or indirectly solicit for employment, or
make an unsolicited recommendation to any other person that it employs or solicit for employment any person who is or was, at any time during the Restricted Period, an officer, executive, employee, agent or representative of Axesstel or of any
affiliate of Axesstel. As used in this Agreement, the term “Executive-Controlled Person” shall mean any company, partnership, firm or other entity as to which Kawchuk possesses, directly or indirectly, the power to direct or cause
the direction of the management and policies of such entity, whether through the ownership of voting securities, by contract or otherwise. 
 8.2 Confidentiality. 
 8.2.1 Kawchuk acknowledges that, as a result of his status as
Vice President of Sales and Corporate Marketing of Axesstel, he has, or will have, access to and possession of important confidential information and knowledge as to the business of Axesstel and its affiliates, including, hut not limited to
knowledge of products of Axesstel and its affiliates, patents, technology, know-how, marketing and operating strategies, licensing and other agreements, financial results and projections, future plans, the provisions of other important contracts
entered into by Axesstel and its affiliates, possible acquisitions and similar information. Kawchuk agrees that such knowledge and information constitutes a vital part of the business of Axesstel and are by their nature trade secrets and
confidential information proprietary to Axesstel (collectively “Confidential Information”). Kawchuk agrees that he shall not divulge, communicate, furnish or make accessible (whether orally or in writing or in books, articles or any
other medium) to any individual, firm, partnership or corporation, any Confidential Information without the consent of Axesstel’s Board of Directors. As used in this Agreement, the term, “Confidential Information” shall not include
any knowledge or information that Kawchuk can demonstrate: (i) is or becomes available to others, other than as a result of breach by Kawchuk of this Article 8; (ii) was available to Kawchuk on a nonconfidential basis prior to its
disclosure to Kawchuk through his status as an officer or employee of Axesstel; or (iii) becomes available to Kawchuk on a nonconfidential basis from a third party (other than Axesstel, its affiliates and any of their representatives) who is
not bound by any confidentiality obligations to Axesstel or any of its affiliates. Kawchuk understands and agrees that he must also execute and fully comply with Axesstel’s Employee Innovations and Proprietary Rights Assignment Agreement in the
form attached hereto as Exhibit B as a condition of his employment. 
 8.2.2 All memoranda, notes, lists, records and
other documents or papers (and all copies thereof), including such items stored in computer memories, on microfiche or by any other means, made or compiled by or on behalf of Kawchuk or made available to him 

  

 4 

 
relating to Axesstel or any of its affiliates are and shall remain Axesstel’s property, and shall be delivered to Axesstel promptly upon any termination
of Kawchuk’s employment with Axesstel, or at any other time on request, and such information shall be held confidential by Kawchuk after any termination of’ his employment with Axesstel. 
 8.3 No Competition During Employment. During the term of this Agreement, neither Kawchuk nor any Executive-Controlled Person will,
without the prior written consent of Axesstel’s Board of Directors, render any services, directly or indirectly, as an employee, officer, consultant or in any other capacity, to any individual, firm, corporation or partnership engaged in any
business or activity which directly competes with the business activities of Axesstel. 
 8.4 Restricted Period. As
used in this Agreement, “Restricted Period” shall mean any period during which Kawchuk is employed by Axesstel and a period of two (2) years after the Termination Date. 
 8.5 Remedies. Kawchuk agrees that the provisions of’ this Article 8 are reasonable and necessary for the protection of
Axesstel and that they may not be adequately enforced by an action for damages. Therefore, in the event of a breach or threatened breach of this Article 8 by Kawchuk or any Executive-Controlled Person, Axesstel shall be entitled, in addition to all
other remedies, to an injunction and/or restraining order enjoining the breach or threatened breach of the provisions of Article 8 or otherwise to enforce specifically such provisions against violation, without the necessity of posting any bond or
other security by Axesstel. Kawchuk further agrees that if he shall violate any of the covenants and agreements under this Article 8, Axesstel shall be entitled to an accounting and repayment of all profits, commissions or other benefits which
Kawchuk has realized and/or may realize as a result of or arising out of any such violation. Such remedy shall be cumulative and not exclusive and in addition to any injunctive relief or other legal or equitable remedy to which Axesstel is or may be
entitled. In addition, the prevailing party shall also he entitled to its reasonable attorneys’ fees and costs incurred in any action in which it is successful in establishing or defending against an alleged violation of Article 8. 

8.6 Severability. The provisions contained in this Article 8 as to the time periods, scope of activities and persons or entities
affected shall be deemed severable so that, if any provision contained in this Article 8 is determined to be invalid or unenforceable, such provisions shall be deemed modified so as to be valid and enforceable to the full extent permitted by law.

 9. General Provisions 
 9.1 Governing Law. This Agreement and the rights of the parties thereunder shall be governed by and interpreted under California law. 
 9.2 Assignment. Kawchuk may not delegate, assign, pledge or encumber his rights or obligations under this Agreement or any part
thereof. 
 9.3 Notice. Any notice required or permitted to be given under this Agreement shall be sufficient if it is
in writing and is sent by registered or certified mail, postage 

  

 5 

 
prepaid, or personally delivered, to the following addresses, or to such other addresses as either party shall specify by giving notice under this Article 9:

  

			
	To Axesstel:	  	Axesstel, Inc.
		  	6815 Flanders Drive, Suite 210
		  	San Diego, CA 92121
		  	Attn: CEO
		  	T: (858) 625-2100
		  	F: (858) 625-2110
		
	With a copy to:	  	James A. Mercer III, Esq.
		  	Duane Morris LLP
		  	101 W. Broadway, Suite 900
		  	San Diego, CA 92101
		  	T: (619) 744-2209
		  	F: (619) 744-2201
		  	Email: jamercer@duanemorris.com
		
	To Kawchuk:	  	Murray Kawchuk
		  	606 Durango Circle N.
		  	Irving, TX 75062
		  	T:
		  	F:
		  	Email:

 9.4 Entire Agreement. This Agreement (and its Exhibits) constitutes the
entire agreement between the parties pertaining to the subject matter hereof and completely supersedes all prior or contemporaneous agreements, understandings, arrangements, commitments, negotiations and discussions of the parties, whether oral or
written (all of which shall have no substantive significance or evidentiary effect). Each party acknowledges, represents and warrants that this Agreement is fully integrated and not in need of parole evidence in order to reflect the intentions of
the parties. 
 9.5 Amendment. This Agreement may be waived, amended or supplemented only by a writing signed by both
of the parties hereto. 
 9.6 Waiver. No waiver of any provision of’ this Agreement shall be binding unless and
until set forth expressly in writing and signed by the waiving party. The waiver by either party of’ a breach of’ any provision of this Agreement shall not operate or be construed as a waiver of any preceding or succeeding breach of the
same or any other term or provision, or a waiver of any contemporaneous breach of any other term or provision, or a continuing waiver of’ the same or any other term or provision. No failure or delay by a party in exercising any right, power, or
privilege hereunder or other conduct by a party shall operate as a waiver thereof in the particular case or in any past or future case, and no single or partial exercise thereof shall preclude the full exercise or further exercise of any right,
power or privilege. No action taken 

  

 6 

 
pursuant to this Agreement shall be deemed to constitute a waiver by the party taking such action of compliance with any representations, warranties,
covenants or agreements contained herein. 
 9.7 Severability. All provisions contained herein are severable and in the
event that any of them shall be held to be to any extent invalid or otherwise unenforceable by any court of competent jurisdiction, such provision shall be interpreted, construed or rewritten so as to effectuate to the greatest possible extent the
parties’ expressed intent; and in every case the remainder of this Agreement shall not be affected thereby and shall remain valid and enforceable, as if such affected provision were not contained herein, 
 9.8 Construction. Article and section headings are inserted herein for convenience of reference only and in no way are to be
construed to define, limit or affect the construction or interpretation of the terms of this Agreement. The provisions of this Agreement have been prepared, examined, negotiated and revised by each party hereto, and no implication shall be drawn and
no provision shall be construed against either party by virtue of the purported identity of the drafter of this Agreement, or any portion thereof. 
 9.9 Arbitration. The parties agree that any and all disputes that they have with one another which arise out of Kawchuk’s employment or under the terms of this Agreement shall be resolved through final and
binding arbitration, as specified herein. This shall include, without limitation, disputes relating to this Agreement, Kawchuk’s employment by Axesstel or the termination thereof the stock options granted to Kawchuk, claims for breach of
contract or breach of the covenant of good faith and fair dealing, and any claims of discrimination or other claims under any federal, state or local law or regulation now in existence or hereinafter enacted and as amended from time to time
concerning in any way the subject of Kawchuk’s employment with Axesstel or its termination. The only claims not covered by this Section 9.9 are (i) claims for benefits under the workers’ compensation laws or claims for
unemployment insurance benefits, which will be resolved pursuant to those laws, and (ii) Axesstel’s claims for Kawchuk’s alleged breach of any of the provisions of Article 8 of this Agreement. Binding arbitration will he conducted in
San Diego County, California, in accordance with the American Arbitration Association’s National Rules for the Resolution of Employment Disputes then in effect. The party initiating the arbitration shall bear the cost of the arbitration filing.
Axesstel will bear the cost of and hearing fees and the arbitrator. Each party will bear its own attorneys’ fees, unless otherwise permitted by law and so determined by the arbitrator. Kawchuk understands and agrees that the arbitration shall
be instead of any civil litigation and that the arbitrator’s decision shall be final and binding to the fullest extent permitted by law and enforceable by any court having jurisdiction thereof. 
 This Agreement is executed this 20th day of October, 2006. 
  

									
		 		 	AXESSTEL, INC., a Nevada corporation
				
	/s/ MURRAY KAWCHUK	 		 	By:	 	/s/ MARV TSEU
	Murray Kawchuk	 		 	Its:	 	Chief Executive Officer

  

 7Stock Option Agreement

 Exhibit 10.2 
 AXESSTEL, INC. 
 2004 EQUITY INCENTIVE PLAN 
 STOCK OPTION AGREEMENT 
 Unless
otherwise defined herein, the terms defined in the Axesstel, Inc. 2004 Equity Incentive Plan shall have the same defined meanings in this Option Agreement. 
  

	I.	NOTICE OF STOCK OPTION GRANT. 

 You have
been granted an option to purchase Common Stock, subject to the terms and conditions of the Plan and this Option Agreement, as follows: 
  

			
	Name of Optionee:	  	Murray Kawchuk
		
	Total Number of Shares Granted:	  	400,000
		
	Type of Option:	  	NSO
		
	Exercise Price per Share:	  	$1.70
		
	Grant Date:	  	October 20, 2006
		
	Vesting Commencement Date:	  	October 20, 2006
		
	Vesting Schedule:	  	This option may be exercised, in whole or in part, in accordance with the following schedule:
		
		  	1/3 of the Shares subject to the Option shall vest twelve (12) months after the Vesting Commencement Date, and 1/12 of the Shares subject to the Option shall vest each quarter thereafter until
fully vested, subject to the Optionee continuing to be a Service Provider on such dates.
		
	Termination Period:	  	This option may be exercised for three months after the optionee ceases to be a Service Provider. The Administrator determines when the optionee incurs a Termination of Service for this purpose.
Upon the death or Total and Permanent Disability of the optionee, this option may be exercised for 12 months after the optionee ceases to be a Service Provider. In no event shall this option be exercised later than the Term/Expiration Date
provided for below. These time periods may be extended as set forth in Section II.C and Section II.I below.
		
	Term/Expiration Date:	  	October 20, 2016

  

 -1- 

	II.	AGREEMENT. 

 A. Grant of Option. The
Administrator hereby grants to the optionee named in the Notice of Stock Option Grant attached as Part I of this Option Agreement (the “Optionee”) an option (the “Option”) to purchase the number of Shares, as set forth in the
Notice of Stock Option Grant, at the exercise price per Share set forth in the Notice of Stock Option Grant (the “Exercise Price”), subject to the terms and conditions of this Option Agreement and the Plan. This Option is intended to be an
Incentive Stock Option (“ISO”) or a Nonstatutory Stock Option (“NSO”), as provided in the Notice of Stock Option Grant. 
 B. Exercise of Option. 
 1. Vesting/Right to Exercise. This Option is exercisable during its term in
accordance with the Vesting Schedule set forth in the Notice of Stock Option Grant, this Option Agreement and the applicable provisions of the Plan. This Option will in no event become exercisable for additional Shares after a Termination of Service
for any reason. 
 2. Method of Exercise. This Option is exercisable by delivering to the Administrator a fully
executed “Exercise Notice” or by any other method approved by the Administrator. The Exercise Notice shall provide that the Optionee is electing to exercise the Option, the number of Shares in respect of which the Option is being exercised
(the “Exercised Shares”), and such other representations and agreements as may be required by the Administrator. The Exercise Notice shall be accompanied by payment of the full aggregate Exercise Price as to all Exercised Shares. This
Option shall be deemed to be exercised upon receipt by the Administrator of such fully executed Exercise Notice accompanied by such aggregate Exercise Price. The Optionee is responsible for filing any reports of remittance or other foreign exchange
filings required in order to pay the Exercise Price. 
 C. Limitation on Exercise. The grant of this Option and the issuance of Shares
upon exercise of this Option is subject to compliance with all Applicable Laws. This Option may not be exercised if the issuance of Shares upon exercise would constitute a violation of any Applicable Laws. In addition, this Option may not be
exercised unless (i) a registration statement under the Securities Act is in effect at the time of exercise of this Option with respect to the Shares or (ii) in the opinion of legal counsel to the Company, the Shares issuable upon exercise
of this Option may be issued in accordance with the terms of an applicable exemption from the registration requirements of the Securities Act. THE OPTIONEE IS CAUTIONED THAT THE OPTION MAY NOT BE EXERCISED UNLESS THE FOREGOING CONDITIONS ARE
SATISFIED. ACCORDINGLY, THE OPTIONEE MAY NOT BE ABLE TO EXERCISE THE OPTION WHEN DESIRED EVEN THOUGH THE OPTION IS VESTED. As a condition to the exercise of this Option, the Company may require the Optionee to satisfy any qualifications that may be
necessary or appropriate, to evidence compliance with any applicable law or regulation and to make any representation or warranty with respect thereto as may be requested by the Company. Any shares which are issued will be “restricted
securities” as that term is defined in Rule 144 under the Securities Act, and will bear an appropriate restrictive legend, unless they are registered under the Securities Act. The Company is under no obligation to register the Shares issuable
upon exercise of this Option. If on the date the Optionee ceases to be a Service Provider, a registration statement under the Securities Act is not 

  

 -2- 

 
in effect with respect to the Shares issuable upon exercise of this Option, this Option will remain exercisable until three (3) months after the date
the Optionee is notified by the Company that such a registration statement is in effect, but in any event no later than the Expiration Date. 
 D. Method of Payment. Payment of the aggregate Exercise Price shall be by any of the following methods; provided, however, the payment shall be in strict compliance with all procedures established by the Administrator: 
 1. cash; 
 2.
check or wire transfer; 
 3. subject to any conditions or limitations established by the Administrator, other Shares which
(i) in the case of Shares acquired upon the exercise of an option, have been owned by the Optionee for more than six (6) months on the date of surrender or attestation and (ii) have a Fair Market Value on the date of surrender or
attestation equal to the aggregate Exercise Price; 
 4. consideration received by the Company under a broker-assisted sale
and remittance program acceptable to the Administrator (Officers and Directors shall not be permitted to use this procedure if this procedure would violate Section 402 of the Sarbanes-Oxley Act of 2002, as amended); or 
 5. any combination of the foregoing methods of payment. 
 E. Leave of Absence. The Optionee shall not incur a Termination of Service when the Optionee goes on a military leave, a sick leave or another bona fide leave of absence, if the leave was approved by the
Company (or Affiliate employing him or her) in writing and if continued crediting of service is required by the terms of the leave or by applicable law. However, the Optionee incurs a Termination of Service when the approved leave ends, unless the
Optionee immediately returns to active work. 
 For purposes of ISOs, no leave of absence may exceed three months, unless
reemployment upon expiration of such leave is provided by statute or contract. If reemployment upon expiration of a leave of absence approved by the Company (or Affiliate employing him or her) is not so provided by statute or contract, the Optionee
shall be deemed to have incurred a Termination of Service on the first day immediately following such three month period of leave for ISO purposes and this Option shall cease to be treated as an ISO and shall terminate upon the expiration of the
three month period following the date the employment relationship is deemed terminated. 
 F. Non-Transferability of Option. This
Option may not be transferred in any manner otherwise than by will or by the laws of descent or distribution and may be exercised during the lifetime of the Optionee only by the Optionee. The terms of this Option Agreement and the Plan shall be
binding upon the executors, administrators, heirs, successors and assigns of the Optionee. This Option may not be assigned, pledged or hypothecated by the Optionee whether by operation of law or otherwise, and is not subject to execution, attachment
or similar process. Notwithstanding the foregoing, if this Option is designated as a Nonstatutory Stock Option, the 

  

 -3- 

 
Administrator may, in its sole discretion, allow the Optionee to transfer this Option as a gift to one or more family members. For purposes of this Option
Agreement, “family member” means a 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 individual sharing the Optionee’s household (other than a tenant or employee), a trust in which one or more of these individuals have more than 50% of the beneficial interest, a foundation in which the
Optionee or one or more of these persons control the management of assets, and any entity in which the Optionee or one or more of these persons own more than 50% of the voting interest. 
 G. Term of Option. This Option may be exercised only within the term set out in the Notice of Stock Option Grant, and may be exercised during such
term only in accordance with this Option Agreement and the Plan. 
 H. Tax Obligations. 
 1. Withholding Taxes. The Optionee agrees to make appropriate arrangements with the Administrator for the satisfaction of all
applicable Federal, state, local, and foreign income taxes, employment tax, and any other taxes that are due as a result of the Option exercise. With the Administrator’s consent, these arrangements may include withholding Shares that otherwise
would be issued to the Optionee pursuant to the exercise of this Option. The Optionee acknowledges and agrees that the Company may refuse to honor the exercise and refuse to deliver Shares if such withholding amounts are not delivered at the time of
exercise. 
 2. Notice of Disqualifying Disposition of ISO Shares. If the Option is an ISO, and if the Optionee sells
or otherwise disposes of any of the Shares acquired pursuant to the exercise of the ISO on or before the later of (i) the date two years after the Grant Date, or (ii) the date one year after the date of exercise, the Optionee shall
immediately notify the Administrator in writing of such disposition. The Optionee agrees that the Optionee may be subject to income tax withholding by the Company on the compensation income recognized by the Optionee. 
 I. Extension if the Optionee Subject to Section 16(b). If a sale within the applicable Termination Period set forth in Section I of Shares
acquired upon the exercise of this Option would subject the Optionee to suit under Section 16(b) of the Exchange Act, this Option shall remain exercisable until the earliest to occur of (i) the tenth (10th) day following the date on
which a sale of such shares by the Optionee would no longer be subject to such suit, (ii) the one hundred and ninetieth (190th) day after the Optionee’s Termination of Service, or (iii) the Expiration Date. 
 J. Change in Control. In the event of a Change in Control prior to the Optionee’s Termination of Service, the Optionee will fully vest in and
have the right to exercise the Option. In addition, if the Option becomes fully vested and exercisable in the event of a Change in Control, the Administrator will notify the Optionee in writing or electronically that the Option will be fully vested
and exercisable for a period of time determined by the Administrator in its sole discretion, and the Option will terminate upon the expiration of such period. 
  

 -4- 

 K. Restrictions on Resale. The Optionee agrees not to sell any Shares at a time when Applicable
Law, Company policies or an agreement between the Company and its underwriters prohibit a sale. This restriction shall apply as long as the Optionee is a Service Provider and for such period of time after the Optionee’s Termination of Service
as the Administrator may specify. 
 L. Lock-Up Agreement. The Optionee hereby agrees that in connection with any underwritten public
offering of Shares made by the Company pursuant to a registration statement filed under the Securities Act, the Optionee shall not offer, sell, contract to sell, pledge, hypothecate, grant any option to purchase or make any short sale of, or
otherwise dispose of any Shares (including but not limited to Shares subject to this Option) or any rights to acquire Shares of the Company for such period of time beginning on the date of filing of such registration statement with the Securities
and Exchange Commission and ending at the time as may be established by the underwriters for such public offering; provided, however, that such period of time shall end not later than one hundred eighty (180) days from the effective date of
such registration statement. The foregoing limitation shall not apply to shares registered for sale in such public offering. 
 M. Entire
Agreement; Governing Law. This Option Agreement and the Plan constitute the entire agreement of the parties with respect to the subject matter hereof and supersede in their entirety all prior undertakings and agreements of the Company and
Optionee with respect to the subject matter hereof, and may not be modified adversely to the Optionee’s interest except by means of a writing signed by the Company and Optionee. This Option Agreement is governed by the internal substantive
laws, but not the choice of law rules, of California. 
 N. NO GUARANTEE OF CONTINUED SERVICE. THE OPTIONEE ACKNOWLEDGES AND AGREES
THAT THE VESTING OF THE OPTION PURSUANT TO THE VESTING SCHEDULE HEREOF IS EARNED ONLY BY CONTINUING AS A SERVICE PROVIDER AT THE WILL OF THE COMPANY (AND NOT THROUGH THE ACT OF BEING HIRED, BEING GRANTED AN OPTION OR PURCHASING SHARES HEREUNDER).
OPTIONEE FURTHER ACKNOWLEDGES AND AGREES THAT THIS OPTION AGREEMENT, THE TRANSACTIONS CONTEMPLATED HEREUNDER AND THE VESTING SCHEDULE SET FORTH HEREIN DO NOT CONSTITUTE AN EXPRESS OR IMPLIED PROMISE OF CONTINUED ENGAGEMENT AS A SERVICE PROVIDER FOR
THE VESTING PERIOD, FOR ANY PERIOD, OR AT ALL, AND SHALL NOT INTERFERE WITH OPTIONEE’S RIGHT OR THE COMPANY’S RIGHT TO TERMINATE OPTIONEE’S RELATIONSHIP AS A SERVICE PROVIDER AT ANY TIME, WITH OR WITHOUT CAUSE. 
 By the Optionee’s signature and the signature of the Company’s representative below, the Optionee and the Company agree that
this Option is granted under and governed by the terms and conditions of this Option Agreement and the Plan. The Optionee has reviewed this Option Agreement and the Plan in their entirety, has had an opportunity to obtain the advice of counsel prior
to executing this Option Agreement and fully understands all provisions of this Option Agreement and the Plan. The Optionee hereby agrees to accept as binding, conclusive 

  

 -5- 

 
and final all decisions or interpretations of the Administrator upon any questions relating to this Option Agreement and the Plan. 
 The Optionee further agrees that the Company may deliver by email all documents relating to the Plan or this Option (including, without
limitation, prospectuses required by the Securities and Exchange Commission) and all other documents that the Company is required to deliver to its security holders (including, without limitation, annual reports and proxy statements). The Optionee
also agrees that the Company may deliver these documents by posting them on a web site maintained by the Company or by a third party under contract with the Company. 
  

									
	OPTIONEE:	 		 	AXESSTEL, INC.
				
	/s/ MURRAY KAWCHUK	 		 	By:	 	/s/ PATRICK GRAY
	Signature	 		 		 	Patrick Gray
		 		 		 	Title:	 	Sr. Vice President Finance
			
	Murray Kawchuk	 		 	
	Print Name	 		 		 	
				
	 606 Durango Circle N., Irving, TX 75062
 Resident Address
	 		 		 	
				
	  	 		 		 	

  

 -6-

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00111-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00111-of-00352.parquet"}]]