Document:

EXHIBIT
10.2

 

TELETRONICS
INTERNATIONAL, INC.

INCENTIVE
STOCK OPTION PLAN OF 2013

 

1.
Purpose

 

The
purpose of the Teletronics International, Inc. (the Company, or Teletronics) Incentive Stock Option Plan of 2013 (hereinafter
called the “Plan”), an update of the earlier 2000 Plan, is to furnish an incentive to one or more key employees by
making available to them a Common Stock ownership in the Company. It is believed that the proprietary interest in the Company
thus created will not only induce the continued service of these employees but will also stimulate their efforts towards the continued
success of the Company.

 

2.
Administration

 

The
Plan shall be administered by an Administrator appointed by the Board of Directors of the Company. If no such specific appointment
is made, the Administrator shall be the CEO of the Company. The Administrator is authorized, subject to the provisions of the
Plan and the approval of the Board of Directors, to promulgate such rules and regulations as it deems necessary for the proper
administration of the Plan and to make such determinations and to take all action in connection therewith or in relation to the
Plan as it deems necessary or advisable.

 

3.
Total Number of Shares

 

Subject
to the provisions of Paragraph 6(g), the maximum amount of stock which may be issued under the Plan is Three Million (3,000,000)
shares of Common Stock. No Participant shall be granted options in excess of the Incentive Stock Option limitations under Internal
Revenue Code Section 422. The aggregate fair market value (determined at the time the option is granted) of the stock with respect
to which Incentive Stock Options are exercisable for the first time by such individual during any calendar year (under all Incentive
Stock Option Plans of the Company and its parent and subsidiary corporations, if any) shall not exceed Five Hundred Thousand Dollars
($500,000.00).

 

4.
Participation in Plan

 

Employees
eligible to receive options shall be key employees of the Company, including those under payroll by Teletronics’ affiliated
offices, who take assignments originated from the Company. As soon as the Board shall deem practicable after the effective date
of the Plan and from time to time thereafter, the Board upon the recommendation of the Administrator shall determine the individual
key employees who shall be granted options under the Plan and the number of shares of Common Stock to be optioned to each such
employee.

 

5.
Term of Plan

 

No
option shall be granted pursuant to this Plan after December 31, 2009. Options may extend beyond the date when no additional option
may be granted.

 

    	 

    	 

    

 

6.
Terms and Conditions of Options

 

(a)
Option Price. The option price per share shall be not less than the fair market value of the Common Stock on the date the
option is granted, which shall be defined as the weighted average per share price paid by the purchasers in the three (3) most
recent transactions (exclusive of the exercise of stock options) within 2 years prior to the date the option is granted. If such
determination is not attainable, the price of the latest largest single transaction with volume exceeding 500,000 shares transacted
within 2 years prior to the date the option is granted shall be the option price. If no such transaction exists within previous
two years, then the fair market value shall be determined by the certified public accountant regularly retained by the Corporation.

 

(b)
Number of Shares. The option shall state the number of shares of Common Stock covered thereby.

 

(c)
Payment. The option price shall be payable in cash or by check at the time the option is exercised.

 

(d)
Term of Options. The option shall provide that it shall not be exercisable after the expiration of five (5) years from
the date such option is granted.

 

(e)
Exercise of Option.

 

	 	(i)	 The
    option may include a vesting schedule as may be promulgated by the Administrator, in which case, no option shall be exercised
    unless the service requirements of the vesting schedule have been satisfied.
	 	 	 
	 	(ii)	 The option
    may include performance standards as may be promulgated by the CEO of the Company, in which case, no option shall be exercised
    unless the performance standards have been satisfied.
	 	 	 
	 	(iii)	 An option
    may be exercised only during the continuance of the optionee’s employment, except in the event of death as provided
    for in Sections 6(e) (v) and 6(f) hereof.
	 	 	 
	 	(iv)	 Upon the confirmation
    by the Administrator and the CEO that the optionee’s service requirement and performance standards are fulfilled, the
    optionee election to exercise an option shall give written notice to the Treasure of the Company of such election and of the
    number of shares the optionee has elected to purchase, and shall, at the time of purchase, render the full purchase price
    of the shares has elected to purchase. Until the purchaser has made such payment, and the optionee has had issued to him a
    certificate or certificates for the shares so purchased, the optionee shall possess no shareholder rights with respect to
    any such share or shares.
	 	 	 
	 	(v)	 In the event
    of death of an optionee, the person designated in the optionee’s Will or, in the absence of such designation, the legal
    representative of an optionee may in like manner exercise the option provided the same was exercisable by the optionee at
    the time of his death, but such privilege shall expire three (3) months after the death of the optionee, subject to Section
    6(d) hereof. The Company is under no obligation to send any reminder of the exercisable options to whoever is legally responsible
    for exercise of the option.

 

    	 

    	 

    

 

(f)
Termination of Option. The option to the extent not exercised, shall terminate upon the earlier of

 

	 	(i)	the expiration of its terms;
	 	 	 
	 	(ii)	upon breach by the opitnee of any provision
    of the option;
	 	 	 
	 	(iii)	on termination of the optionee’s
    employment except on account of death; or
	 	 	 
	 	(iv)	subject to Sections 6(d) and 6(e), three
    (3) months after the date of the optionee’s death.

 

(g)
Adjustment of and Changes in Shares. In the event of any merger, consolidation, recapitalization, reclassification, stock
dividend, special cash dividend, or other change in corporate structure affecting the stock issued hereunder, the Company shall
make such adjustments, if any, as it deems appropriate in the number and class of shares subject to, and the exercise price of,
this Option. The foregoing adjustments shall be determined by the Company in its sole discretion.

 

(h)
Transferability. The option shall provide that it will not be transferable by the optionee other than by Will or the laws
of descent and distribution and shall be exercisable, during the optionee’s lifetime, only by him.

 

(i)
Legal Compliance. The option shall contain a provision that it may not be exercised at a time when the exercise thereof
or the issuance of shares thereunder would constitute a violation of any federal or state law.

 

(j)
Shareholder Agreement. The option shall contain a provision that an optionee, as a condition precedent to issuance of stock,
shall enter into a Shareholder Agreement, which may, inter alias, require the sale back to Company of the stock issued under the
Plan at fair market value upon the occurrence of certain events, including, the employee’s termination of employment with
Company for any reason.

 

(k)
Preemption of Applicable Laws. Any issuance of shares shall be deferred for the duration of any period during which the
Company must take any action in connection with said shares pursuant to any law, regulation or requirement of any governmental
authority; provided, however, an option shall not extend beyond any period when it must expire under Internal Revenue Code Section
422.

 

(l)
Incorporation by Reference. The option shall contain a provision that all the terms and conditions of this Incentive Stock
Option Plan are incorporated by reference therein.

 

(m)
Other Provisions. The option shall contain such other provisions as the Board of Directors shall deem advisable, consistent
with the terms of the Plan as herein set forth.

 

7.
Definitions

 

(a)
Company. The term “Company” shall mean TELETRONCS INTERNATIONAL, INC., a Delaware corporation, and its subsidiary
(ies), if any.

 

(b)
Board of Directors. The term “Board of Directors” shall mean the Board of Directors of TELETRONCS INTERNATIONAL, INC.,
a Delaware corporation.

 

(c)
Common Stock. The term “Common Stock” shall mean the Common Stock of the Company, authorized but unissued, or issued
and acquired by the Company and held as Treasury Stock.

 

    	 

    	 

    

 

8.
Reallocation of Unused Shares

 

Any
shares which are not purchased under an option which has terminated or lapsed, or which are sold back to the Company under section
6 may be allocated to, or used for, the further grant of options under the Plan.

 

9.
Use of Proceeds

 

The
proceeds received by the Company from the sale of stock under the Plan shall be added to the general funds of the Company and
shall be used for such corporate purposes as the Board of Directors shall direct.

 

10.
Compliance with Securities Laws

 

At
the time an optionee gives notice of the exercise of an option, in accordance with Section 6(e) (iv) hereof, the optionee shall
in the Shareholder Agreement acknowledge the full comprehension of the risk of the Company and of the restriction of the shares,
and shall represent and agree that said shares are being purchased for investment and not with a view to the distribution or resale
thereof; provided, however, that in the event the shares are effectively registered under the Federal Securities Act of 1933,
and applicable state “blue sky” laws or, if in the opinion of counsel for the Company, such condition s are not required
under such Act or any other applicable law, regulation or rule of any governmental agency, then the foregoing restrictions shall
become inoperative.

 

11. Amendment
and Revocation 

 

The
Board of Director shall have the right to alter, amend or revoke the Plan or any part thereof at any time and from time to time,
provided, however, that without the consent of the optionees no change may be made in any option theretofore granted which will
impair the rights of existing optionees.

 

12.
Qualification

 

Subject
to the approval of the shareholders of the Company at the upcoming Annual Shareholders Meeting, the Plan shall be an incentive
stock option plan pursuant to the Internal Revenue Code Section 422. Should the Plan fail to receive Shareholder approval, it
shall be a non-qualified plan.

 

(The
stockholders approved the Incentive Stock Option Plan 2013 in December 28, 2012 Annual Stockholders’ Meeting.)EXHIBIT
10.3

 

License
Agmt

 

COMPEX
SYSTEMS PTE LTD

 

DEVELOPMENT
SYSTEM TECHNOLOGY LICENSE AGREEMENT

 

 

This
Development System Technology License Agreement (“Agreement”) is made and entered into this 31 day of July 2013, or,
if date left blank, the later of the two signature dates above (the “Effective Date”) by and between Compex and Licensee
(each individually a “Party” and collectively the “Parties”). In consideration of the mutual covenants
and agreements contained herein, the Parties, intending to be legally bound, agree as follows:

 

	 	1.	Definitions.
    For purposes of this Agreement, the following terms shall
    have the meanings set forth below:
	 	 	 
	 	 	1.1	“Compex
    Hardware” means a Compex-proprietary networking Product.
	 	 	 	 
	 	 	1.2	“Licensed
    Products” means Licensee’s products incorporating a Compex Hardware and a Licensed Work. For purposes
    of clarity, the Licensed Products do not and may not include devices without a Compex Hardware or without a Licensed Work.
	 	 	 	 
	 	 	1.3	“Licensed
    Work” means software derived from the Licensed Code, or any portion thereof.
	 	 	 	 
	 	 	1.4	“Compex
    Technology” means the system for generating a very compact set of code for use in Compex Hardware as found in
    the software code, specification(s), technical information, algorithms and any supporting documentation included in Exhibit
    A, including without limitation the Licensed Code. Compex may, in its sole discretion, update the Compex Technology and provide
    such update to Licensee. The terms and conditions of this Agreement will apply to any update of the Compex Technology provided
    to Licensee.

 

    	 

    	 

    

 

	 	 	1.5	“Object
    Code” means the fully compiled version of a software program that can be executed by a computer and used by
    an end user without further compilation.
	 	 	 	 
	 	 	1.6	“Source
    Code” means the human-readable version of a software program that can be compiled into Object Code.
	 	 	 	 
	 	 	1.7	“Licensed
    Code” means the software files listed in Exhibit A and any updates thereto.

 

	 	2.	License.
    Subject to the terms and conditions hereof and of the Agreement, Compex hereby grants to Licensee and Licensee hereby
    accepts, only for development and sale or resale of Licensed Products, a worldwide, non-exclusive and non-transferable (except
    as allowed by the Assignment provision hereof) license to:
	 	 	 
	 	 	(a)	reproduce
    and use the Compex Technology internally only for development and maintenance purposes as required to develop, support, and
    maintain Licensed Works;
	 	 	 	 
	 	 	(b)	compile
    and modify the Source Code of the Licensed Code solely as necessary to create Licensed Works and compile such Licensed Works
    from Source Code to Object Code;
	 	 	 	 
	 	 	(c)	distribute,
    sell, offer to sell and sublicense the right to use the Licensed Works, as Object Code only, solely as incorporated in Licensed
    Products;
	 	 	 	 
	 	 	(d)	use
    the Compex Technology to provide customer support for the Licensed Works and Licensed Products.
	 	 	 	 
	 	3.	Restrictions
	 	 	 	 
	 	 	3.1	Ownership.
    Licensee acknowledges and agrees that Licensee has no rights in or to the Compex Technology except for those rights expressly
    granted in this Agreement. Licensee shall reproduce on each copy of the Licensed Code, including any authorized modified versions
    thereof, all proprietary rights notices that are included by Compex on the original.
	 	 	 	 
	 	 	3.2	Enhancements.
    Licensee acknowledges that it is in the best interests of Licensee and Compex for the Compex Technology to be as bug-free
    as possible, for Compex to be able to confirm that Licensee’s object code releases of the Licensed Code conform to the
    restrictions of this license, and for improved updates of the Compex Technology to be available to Licensee and other developers
    of Compex Technology. Licensee therefore grants to Compex the following sublicenseable rights to its enhancements to the Compex
    Technology. In the event that Licensee develops an update or modification to the Licensed Code or other Compex Technology
    (the “Enhancement”), including, but not limited to, in or as a Licensed Work, Licensee will promptly disclose
    and deliver the Enhancement to Compex, including but not limited to Source Code, and Licensee hereby grants to Compex a non-exclusive,
    worldwide, royalty-free, perpetual, irrevocable, and sublicenseable (with the authority to authorize the granting of sublicenses)
    license to implement such Enhancement in or with any Compex product or technology.

 

    	 

    	 

    

 

	 	4.	Confidential
    Information; No Open Source. Except as otherwise provided for elsewhere in this Agreement, Licensee shall not allow
    access to the Compex Technology by any third party. Licensee shall take all reasonable measures to maintain the confidentiality
    of the Compex Technology, and will not disclose the Compex Technology to any third party, other than Licensee’s employees
    and consultants with a need to know, without Compex’ prior written consent. Licensee agrees to abide by the terms and
    conditions of the Non-Disclosure Agreement between the Parties (the “NDA”), incorporated herein by this reference.
    Each party shall obtain the other’s written consent prior to any publication, presentation, public announcement, or
    press release concerning the existence or terms and conditions of this Agreement.
	 	 	 
	 	 	IN
    ITS EXERCISE OF THE RIGHTS GRANTED UNDER THIS AGREEMENT, LICENSEE AGREES NOT TO PUBLICALLY DISCLOSE OR TO TAKE ANY ACTION
    THAT WOULD RESULT IN ANY CONTRACTUAL REQUIREMENT TO MAKE AVAILABLE AS SOURCE CODE TO OTHER PARTIES THE LICENSED CODE OR ANY
    PORTION THEREOF. FOR EXAMPLE, IF DISTRIBUTING OBJECT CODE THAT LINKS TO THE LINUX KERNEL, SUCH OBJECT CODE SHALL BE A DYNAMICALLY
    LINKED MODULE, NOT STATICALLY LINKED TO THE KERNEL OR OTHERWISE INTEGRATED WITH A MODIFIED OR UNMODIFIED KERNEL.
	 	 	 
	 	5.	Warranty
    Disclaimer; Damages Waiver; Limitation of Liability; Distribution Indemnity
	 	 	 
	 	 	COMPEX
    WARRANTS THAT IT HAS THE RIGHT TO ENTER THIS AGREEMENT. COMPEX EXPRESSLY DISCLAIMS ALL OTHER WARRANTIES RELATED TO THE LICENSED
    CODE, WHETHER EXPRESS, IMPLIED OR STATUTORY INCLUDING, WITHOUT LIMITATION, THE IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS
    FOR A PARTICULAR PURPOSE, TITLE AND NONINFRINGEMENT OF THIRD PARTY RIGHTS. NO ASSURANCE OF REGULATORY COMPLIANCE IS PROVIDED
    HEREUNDER. NO ORAL OR WRITTEN INFORMATION OR ADVICE GIVEN BY COMPEX, ITS DEALERS, DISTRIBUTORS, AGENTS OR EMPLOYEES SHALL
    IN ANY WAY INCREASE THE SCOPE OF THIS WARRANTY. THE LICENSED CODE IS PROVIDED “AS IS”, WITH NO WARRANTIES OTHER
    THAN THOSE EXPRESSLY PROVIDED HEREIN.

 

    	 

    	 

    

 

COMPEX,
ITS CONTRACTORS AND AFFILIATES SHALL NOT BE LIABLE FOR ANY INCIDENTAL, INDIRECT, SPECIAL OR CONSEQUENTIAL DAMAGES IN CONNECTION
WITH, ARISING OUT OF OR RELATING TO THIS AGREEMENT OR USE OF THE COMPEX TECHNOLOGY, OR FOR THE LOSS OF DATA, INFORMATION OF ANY
KIND, BUSINESS, PROFITS, OR OTHER COMMERCIAL LOSS, HOWEVER CAUSED, AND WHETHER OR NOT COMPEX HAS BEEN ADVISED OF THE POSSIBILITY
OF SUCH DAMAGE.

 

NOTHING
IN THIS AGREEMENT, AND NO SOFTWARE CODE PROVIDED HEREUNDER, ASSURES IN ANY WAY THE REGULATORY COMPLIANCE OF LICENSED WORKS OR
LICENSED PRODUCTS. LICENSEE IS SOLELY RESPONSIBLE FOR THE REGULATORY COMPLIANCE OF LICENSED WORKS AND LICENSED PRODUCTS IN ALL
REGULATORY DOMAINS WORLDWIDE.

 

IN
NO EVENT SHALL COMPEX’S OR ITS AFFILIATES’ OR CONTRACTORS’ AGGREGATE LIABILITY IN CONNECTION WITH, ARISING OUT
OF, OR RELATING TO THIS AGREEMENT EXCEED FIVE HUNDRED DOLLARS ($500). THE PARTIES AGREE THAT THE LIMITATIONS SPECIFIED IN THIS
SECTION WILL APPLY EVEN IF ANY LIMITED REMEDY PROVIDED IN THIS AGREEMENT IS FOUND TO HAVE FAILED OF ITS ESSENTIAL PURPOSE.

 

LICENSEE
WILL INDEMNIFY, DEFEND AND OTHERWISE HOLD COMPEX AND ITS AFFILATES AND CONTRACTORS HARMLESS AGAINST ANY THIRD PARTY CLAIMS, LOSSES,
DAMAGES, LIABILITY OR EXPENSES (INCLUDING ATTORNEYS’ AND OTHER PROFESSIONALS’ FEES) INCURRED BY COMPEX ARISING OUT
OF OR RELATING TO THE MARKETING, SALE OR DISTRIBUTION OF LICENSED PRODUCTS OR LICENSEE’S USE OF THE COMPEX TECHNOLOGY.

 

    	 

    	 

    

 

	 	6.	Term and Termination.
	 	 	 	 
	 	 	6.1	This
    Agreement will begin on the Effective Date. This Agreement may be terminated immediately and without prior notice by Compex
    if Licensee breaches either of Sections 3.2 or 4, and may be terminated by Compex if Licensee materially breaches any other
    provision of this Agreement and fails to cure such breach within thirty (30) days after receipt of written notice from Compex.
	 	 	 	 
	 	 	6.2	Upon
    termination of this Agreement, Licensee will immediately cease using the Compex Technology. However, Licensee shall be entitled
    to retain one copy of the Compex Technology solely to continue to support authorized Licensed Products already sold or licensed.
	 	 	 	 
	 	 	6.3	The
    rights and obligations of the Parties contained in Sections 1 (“Definitions”), 3.2 (“Enhancements”),
    and Sections 4 through 14, inclusive, shall survive any expiration or termination of this Agreement. Furthermore, in the event
    of termination of this Agreement the license grants for Licensed Products sold or distributed to end users shall remain in
    effect.
	 	 	 	 
	 	7.	Assignment. Licensee may not assign this Agreement or any interest or rights granted hereunder to any third party without the prior written consent of Compex; provided that such consent shall not be unreasonably withheld or delayed, unless the proposed assignee is an Compex Competitor. A change of control of Licensee pursuant to a merger, sale of assets or stock shall be deemed to be an assignment under this Agreement. Fir purposes hereof, “change of control of Licensee” means the acquisition of beneficial ownership of more than fifty percent (50%) of the then outstanding voting securities of Licensee entitled to vote generally in the election of directors, including any such acquisition that is made pursuant to a merger or other business combination with a third party. This Agreement shall terminate immediately upon occurrence of any Prohibited assignment. Compex may assign any of its rights and obligation under this Agreement at any time without Licensee’s prior written consent.
	 	 	 
	 	8.	Waiver. No failure by either party to exercise or enforce any of its rights Under this Agreement will act as a waiver of such rights and no waiver of a breach in a particular situation shall be held to be a waiver of any other or subsequent breach.
	 	 	 
	 	9.	Severability. If any provision of this Agreement is found invalid or unenforceable, that provision will be enforced to the maximum extent possible and the other provisions of this Agreement will remain in force.
	 	 	 
	 	10.	Governing
    Law. This Agreement will be governed by and construed in accordance with the laws of the Republic of Singapore.

 

    	 

    	 

    

 

	 	11.	Notice.
    Any notice required or permitted to be given by either party under this Agreement shall be in writing and shall be personally
    delivered or sent by a reputable overnight mail service (e.g., Federal Express), or by first class mail (certified or registered),
    or by facsimile confirmed by first class mail (registered or certified), to the Project Manager (if designated) of the other
    party. Notices will be deemed effective (i) three (3) working days after deposit, postage prepaid, if mailed, (ii) the next
    day if sent by overnight mail, or (iii) the same day (or the next business day if the facsimile is sent on a non-business
    day) if sent by facsimile and confirmed as set forth above. A copy of any notice shall be sent to the following:

 

	Compex
    System Pte Ltd	Licensee
	135
    Joo Seng Road	As
listed in signature block above
	#08-01
    PM Ind. Bldg	 
	Fax:
    (65) 62809947	 

 

	 	12.	Entire
    Agreement. This Agreement, its exhibits and other agreements or documents referenced herein, including the NDA, constitute
    the full and complete understanding and agreement between the Parties and supersede all contemporaneous and prior understandings,
    agreements and representations relating to the subject matter hereof. No modifications, alterations or amendments shall be
    effective unless in writing signed by both Parties to this Agreement.
	 	 	 
	 	13.	Copyright
    Notices. The Licensed Code includes Copyright Notice and other text intended for inclusion in the object code version
    of Licensed Works. To the extent such text is inconsistent with this Agreement, this Agreement controls.
	 	 	 
	 	14.	Counterparts.
    This Agreement may be executed in any number of c ounterparts with the same effect as if both Parties hereto had signed
    the same document. All counterparts will be construed together and will constitute one agreement. Facsimile signatures shall
    be considered original signatures.

 

    	 

    	 

    

 

DEVELOPMENT
SYSTEM (“DS”)

 

TECHNOLOGY
LICENSE AGREEMENT

 

EXHIBIT
A

 

COMPEX
TECHNOLOGY

 

The
following lists the Compex Technology to be delivered to Licensee under the terms of the Agreement. From time to time, Compex
or its affiliate may provide updates. Before installing or otherwise using the updates, Licensee shall acknowledge receipt of
the update (electronic acknowledgment is acceptable) and each update so acknowledged by Licensee shall constitute an Amendment
to this Exhibit A.

 

Compex’
DS (Development System) is a set of software programs, object codes, source code, configuration files and web pages, that generate
codes for use in Compex hardware.

 

The
Compex Technology includes:

Fusion
SDK (To be used only on WP546HV)

 

The
Licensed Code and the following documentation file:

Fusion
SDK (To be used only on WP546HV)

 

The
Licensed Code includes the following files and any updates thereto:

Fusion
SDK (To be used only on WP546HV)

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