Document:

EXHIBIT 10.6

NuVim, Inc.

2005 INCENTIVE STOCK OPTION PLAN

	
  
1.
  	
  
Purposes of   the Plan. The purposes of this 2005 Employee Stock   Incentive Plan are:
  
	
  
 
  	
  
 
  
	
  
 
  	
   
 	
  
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to attract   and retain the best available personnel for positions of substantial   responsibility,
  
	
  
 
  	
   
 	
  
 
  	
  
 
  
	
  
 
  	
   
 	
  
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to provide   additional incentive to Employees and Consultants, and
  
	
   
  	
   
 	
  
 
  	
  
 
  
	
  
 
  	
   
 	
  
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to promote   the success of the Company’s business.
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
Options   granted under the Plan may be Incentive Stock Options or Nonstatutory Stock   Options, as determined by the Administrator at the time of grant.
  

	
  
2.
  	
  
Definitions.   As used herein, the following definitions shall apply:
  
	
   
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
a.
  	
  
“Administrator”   means the Board or any of its Committees as shall be administering the Plan,   in accordance with Section 4 of the Plan.
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
b.
  	
  
“Applicable   Laws” means the requirements relating to the administration of stock   option plans under U.S. state corporate laws, U.S. federal and state   securities laws, the Code, any stock exchange or quotation system on which   the Common Stock is listed or quoted and the applicable laws of any foreign   country or jurisdiction where Options are, or will be, granted under the   Plan.
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
   
  	
  
 
  	
  
c.
  	
  
“Board”   means the Board of Directors of the Company.
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
d.
  	
  
“Change   in Control” means the occurrence of any of the following events:
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
   
 	
  
i.
  	
  
 
  	
  
Any “person”   (as such term is used in Sections 13(d) and 14(d) of the Exchange Act)   becomes the “beneficial owner” (as defined in Rule 13d-3 of the Exchange   Act), directly or indirectly, of securities of the Company representing 50%   or more of the total voting power represented by the Company’s then   outstanding voting securities; or
  
	
   
  	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  	
  
ii.
  	
  
 
  	
  
The   consummation of the sale or disposition by the Company of all or   substantially all of the Company’s assets;
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  	
  
iii.
  	
  
 
  	
  
A change in   the composition of the Board occurring within a two-year period, as a result   of which fewer than a majority of the directors are Incumbent Directors.   “Incumbent Directors” means directors who either (A) are Directors as of   the effective date of the Plan, or (B) are elected, or nominated for   election, to the Board with the affirmative votes of at least a majority of   the Incumbent Directors at the time of such election or nomination (but will   not include an individual whose election or nomination is in connection with   an actual or threatened proxy contest relating to the election of directors   to the Company); or
  
	
   
  	
  
 
  	
  
 
  	
   
 	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  	
  
iv.
  	
  
 
  	
  
The   consummation of a merger or consolidation of the Company with any other   corporation, other than a merger or consolidation which would result in the   voting securities of the Company outstanding immediately prior thereto   continuing to represent (either by remaining outstanding or by being   converted into voting securities of the surviving entity or its parent) at   least 50% of the total voting power represented by the voting securities of   the Company or such surviving entity or its parent outstanding immediately   after such merger or consolidation.
  
	
  
 
  	
  
 
  	
  
 
  	
   
 	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
e.
  	
  
“Code”   means the Internal Revenue Code of 1986, as amended.
  
	
   
  	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
f.
  	
  
“Committee”   means a committee of Directors appointed by the Board in accordance with   Section 4 of the Plan.
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
g.
  	
  
“Common   Stock” means the common stock of the Company.
  

	
   
  	
  
 
  	
  
h.
  	
  
“Company”   means NuVim, Inc., Inc., a Delaware corporation.
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
i.
  	
  
“Consultant”   means any natural person, including an advisor, engaged by the Company or a   Parent or Subsidiary to render services to such entity.
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
j.
  	
  
“Director”   means a member of the Board.
  
	
   
  	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
k.
  	
  
“Disability”   means total and permanent disability as defined in Section 22(e)(3) of   the Code.
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
l.
  	
  
“Employee”   means any person, including Officers and Directors, employed by the Company   or any Parent or Subsidiary of the Company. A Service Provider shall not   cease to be an Employee in the case of (i) any leave of absence approved   by the Company or (ii) transfers between locations of the Company or   between the Company, its Parent, any Subsidiary, or any successor. For   purposes of Incentive Stock Options, no such leave may exceed 90 days, unless   reemployment upon expiration of such leave is guaranteed by statute or   contract. If reemployment upon expiration of a leave of absence approved by   the Company is not so guaranteed, then three months following the 91st   day of such leave any Incentive Stock Option held by the Optionee shall cease   to be treated as an Incentive Stock Option and shall be treated for tax   purposes as a Nonstatutory Stock Option. Neither service as a Director nor   payment of a
director’s fee by the Company shall be sufficient to constitute   “employment” by the Company.
  
	
   
  	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
m.
  	
  
“Exchange   Act” means the Securities Exchange Act of 1934, as amended.
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
n.
  	
  
“Fair   Market Value” means, as of any date, the value of Common Stock determined   as follows:
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  	
  
i.
  	
  
 
  	
  
If the   Common Stock is listed on any established stock exchange or a national market   system, including without limitation the Nasdaq National Market or The Nasdaq   SmallCap Market of The Nasdaq Stock Market, its Fair Market Value shall be   the closing sales price for such stock (or the closing bid, if no sales were   reported) as quoted on such exchange or system on the day of determination,   as reported in The Wall Street Journal   or such other source as the Administrator deems reliable;
  
	
   
  	
  
 
  	
  
 
  	
   
 	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  	
  
ii.
  	
  
 
  	
  
If the   Common Stock is regularly quoted by a recognized securities dealer but   selling prices are not reported, the Fair Market Value of a Share of Common   Stock shall be the mean between the high bid and low asked prices for the   Common Stock on the day of determination, as reported in The Wall Street Journal or such other   source as the Administrator deems reliable; or
  
	
  
 
  	
  
 
  	
  
 
  	
   
 	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  	
  
iii.
  	
  
 
  	
  
In the   absence of an established market for the Common Stock, the Fair Market Value   shall be determined in good faith by the Administrator.
  
	
   
  	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
o.
  	
  
“Incentive   Stock Option” means an Option intended to qualify as an incentive stock   option within the meaning of Section 422 of the Code and the regulations   promulgated thereunder.
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
p.
  	
  
“Nonstatutory   Stock Option” means an Option not intended to qualify as an Incentive   Stock Option.
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
   
  	
  
 
  	
  
q.
  	
  
“Notice   of Grant” means a written or electronic notice evidencing certain terms   and conditions of an individual Option or grant. The Notice of Grant is part   of the Option Agreement.
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
r.
  	
  
“Officer”   means a person who is an officer of the Company within the meaning of   Section 16 of the Exchange Act and the rules and regulations promulgated   thereunder.
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
s.
  	
  
“Option”   means a stock option granted pursuant to the Plan.
  
	
   
  	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
t.
  	
  
“Option   Agreement” means an agreement between the Company and an Optionee   evidencing the terms and conditions of an individual Option grant. The Option   Agreement is subject to the terms and conditions of the Plan.
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
u.
  	
  
“Option   Exchange Program” means a program whereby outstanding Options are   surrendered in exchange for Options with a lower exercise price.
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
   
  	
  
 
  	
  
v.
  	
  
“Optioned   Stock” means the Common Stock subject to an Option.
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
w.
  	
  
“Optionee”   means the holder of an outstanding Option granted under the Plan.
  

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x.
  	
  
“Parent”   means a “parent corporation,” whether now or hereafter existing, as defined   in Section 424(e) of the Code.
  
	
   
  	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
y.
  	
  
“Plan”   means this 2005 Incentive Stock Plan.
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
z.
  	
  
“Rule   16b-3” means Rule 16b-3 of the Exchange Act or any successor to Rule   16b-3, as in effect when discretion is being exercised with respect to the   Plan.
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
aa.
  	
  
“Section 16(b)   “ means Section 16(b) of the Exchange Act.
  
	
   
  	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
bb.
  	
  
“Service   Provider” means an Employee, Director or Consultant.
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
cc.
  	
  
“Share”   means a share of the Common Stock, as adjusted in accordance with   Section 13 of the Plan.
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
dd.
  	
  
“Subsidiary”   means a “subsidiary corporation”, whether now or hereafter existing, as   defined in Section 424(f) of the Code.
  

	
  
3.
  	
  
Stock Subject to the Plan.   Subject to the provisions of Section 13 of the Plan, the maximum   aggregate number of Shares that may be optioned and sold under the Plan is   500,000 Shares. The Shares may be authorized, but unissued, or   reacquired Common Stock.
  
	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
If an Option   expires or becomes unexercisable without having been exercised in full, or is   surrendered pursuant to an Option Exchange Program, the unpurchased Shares   which were subject thereto shall become available for future grant or sale under   the Plan (unless the Plan has terminated); provided, however, that   Shares that have actually been issued under the Plan shall not be returned to   the Plan and shall not become available for future distribution under the   Plan.
  

	
  4.
  	
  
Administration   of the Plan.
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
a.
  	
  
Procedure.
  
	
  
 
  	
  
 
  	
   
 	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
   
 	
  
i.
  	
  
 
  	
  
Multiple   Administrative Bodies. Different Committees with   respect to different groups of Service Providers may administer the Plan.
  
	
   
  	
  
 
  	
   
 	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
   
 	
  
ii.
  	
  
 
  	
  
Section 162(m).   To the extent that the Administrator determines it to be desirable to qualify   Options granted hereunder as “performance-based compensation” within the   meaning of Section 162(m) of the Code, the Plan shall be administered by   a Committee of two or more “outside directors” within the meaning of Section 162(m)   of the Code.
  
	
  
 
  	
  
 
  	
   
 	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
   
 	
  
iii.
  	
  
 
  	
  
Rule 16b-3.   To the extent desirable to qualify transactions hereunder as exempt under   Rule 16b-3, the transactions contemplated hereunder shall be structured to   satisfy the requirements for exemption under Rule 16b-3.
  
	
   
  	
  
 
  	
   
 	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
   
 	
  
iv.
  	
  
 
  	
  
Other   Administration. Other than as provided above, the   Plan shall be administered by (A) the Board or (B) a Committee, which   committee shall be constituted to satisfy Applicable Laws.
  
	
  
 
  	
  
 
  	
   
 	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
b.
  	
  
Powers of   the Administrator. Subject to the provisions of the   Plan, and in the case of a Committee, subject to the specific duties   delegated by the Board to such Committee, the Administrator shall have the   authority, in its discretion:
  
	
   
  	
  
 
  	
   
 	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
   
 	
  
i.
  	
  
 
  	
  
to determine   the Fair Market Value;
  
	
  
 
  	
  
 
  	
   
 	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
   
 	
  
ii.
  	
  
 
  	
  
to select   the Service Providers to whom Options may be granted hereunder;
  
	
   
  	
  
 
  	
   
 	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
   
 	
  
iii.
  	
  
 
  	
  
to determine   the number of shares of Common Stock to be covered by each Option granted   hereunder;
  
	
  
 
  	
  
 
  	
   
 	
   
 	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
   
 	
  
iv.
  	
  
 
  	
  
to approve   forms of agreement for use under the Plan;
  
	
   
  	
  
 
  	
   
 	
   
 	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
   
 	
  
v.
  	
  
 
  	
  
to determine   the terms and conditions, not inconsistent with the terms of the Plan, of any   Option granted hereunder. Such terms and conditions include, but are not   limited to, the exercise price, the time or times when Options may be   exercised (which may be based on performance criteria), any vesting   acceleration or waiver of forfeiture restrictions, and 
  

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any   restriction or limitation regarding any Option or the shares of Common Stock   relating thereto, based in each case on such factors as the Administrator, in   its sole discretion, shall determine;
  
	
   
  	
  
 
  	
  
 
  	
   
 	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  	
  
vi.
  	
  
 
  	
  
to reduce   the exercise price of any Option to the then current Fair Market Value if the   Fair Market Value of the Common Stock covered by such Option shall have   declined since the date the Option was granted;
  
	
  
 
  	
  
 
  	
  
 
  	
   
 	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  	
  
vii.
  	
  
 
  	
  
to institute   an Option Exchange Program;
  
	
   
  	
  
 
  	
  
 
  	
   
 	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  	
  
viii.
  	
  
 
  	
  
to construe   and interpret the terms of the Plan and awards granted pursuant to the Plan;
  
	
  
 
  	
  
 
  	
  
 
  	
   
 	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  	
  
ix.
  	
  
 
  	
  
to prescribe,   amend and rescind rules and regulations relating to the Plan, including rules   and regulations relating to sub-plans established for the purpose of   satisfying applicable foreign laws;
  
	
   
  	
  
 
  	
  
 
  	
   
 	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  	
  
x.
  	
  
 
  	
  
to modify or   amend each Option (subject to Section 14(c) of the Plan), including the   discretionary authority to extend the post-termination exercisability period   of Options longer than is otherwise provided for in the Plan;
  
	
  
 
  	
  
 
  	
  
 
  	
   
 	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  	
  
xi.
  	
  
 
  	
  
to allow   Optionees to satisfy withholding tax obligations by electing to have the   Company withhold from the Shares to be issued upon exercise of an Option that   number of Shares having a Fair Market Value equal to the minimum amount   required to be withheld. The Fair Market Value of the Shares to be withheld   shall be determined on the date that the amount of tax to be withheld is to   be determined. All elections by an Optionee to have Shares withheld for this   purpose shall be made in such form and under such conditions as the   Administrator may deem necessary or advisable;
  
	
   
  	
  
 
  	
  
 
  	
   
 	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  	
  
xii.
  	
  
 
  	
  
to authorize   any person to execute on behalf of the Company any instrument required to   effect the grant of an Option previously granted by the Administrator;
  
	
  
 
  	
  
 
  	
  
 
  	
   
 	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  	
  
xiii.
  	
  
 
  	
  
to make all   other determinations deemed necessary or advisable for administering the   Plan.
  
	
   
  	
  
 
  	
  
 
  	
   
 	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
c.
  	
  
Effect of   Administrator’s Decision. The Administrator’s   decisions, determinations and interpretations shall be final and binding on   all Optionees and any other holders of Options.
  
	
  
 
  	
  
 
  	
  
 
  	
   
 	
  
 
  	
  
 
  
	
  
5.
  	
  
Eligibility.   Nonstatutory Stock Options may be granted to Service Providers. Incentive   Stock Options may be granted only to Employees.
  
	
  
 
  	
  
 
  
	
  
6.
  	
  
Limitations.
  
	
   
  	
  
 
  	
  
 
  	
   
 	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
a.
  	
  
Each Option   shall be designated in the Option Agreement as either an Incentive Stock   Option or a Nonstatutory Stock Option. However, notwithstanding such   designation, to the extent that the aggregate Fair Market Value of the Shares   with respect to which Incentive Stock Options are exercisable for the first   time by the Optionee during any calendar year (under all plans of the Company   and any Parent or Subsidiary) exceeds $100,000, such Options shall be treated   as Nonstatutory Stock Options. For purposes of this Section 6(a),   Incentive Stock Options shall be taken into account in the order in which   they were granted. The Fair Market Value of the Shares shall be determined as   of the time the Option with respect to such Shares is granted.
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
b.
  	
  
Neither the   Plan nor any Option shall confer upon an Optionee any right with respect to   continuing the Optionee’s relationship as a Service Provider with the   Company, nor shall they interfere in any way with the Optionee’s right or the   Company’s right to terminate such relationship at any time, with or without   cause.
  
	
   
  	
  
 
  	
  
 
  	
  
 
  
	
  
7.
  	
  
Term of Plan.   Subject to Section 19 of the Plan, the Plan shall become
  effective upon its adoption by the Board. It shall continue in effect for a   term of 10 years unless terminated earlier under Section 
15 of   the Plan.
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
  
8.
  	
  
Term of   Option. The term of each Option shall be stated in   the Option Agreement. In the case of an Incentive Stock Option, the term   shall be 10 years from the date of grant or such shorter term as may be   provided in the Option Agreement. Moreover, in the case of an Incentive Stock   Option granted to an Optionee who, at the time the Incentive Stock Option is   granted, owns stock representing more than 10% of the total combined voting   power of all classes of stock of the Company or any Parent or Subsidiary, the   term of the Incentive Stock Option shall be five years from the date of grant   or such shorter term as may be provided in the Option Agreement.
  

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9.
  	
  
Option   Exercise Price and Consideration.
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
   
 	
  
a.
  	
  
Exercise   Price. The per share exercise price for the Shares   to be issued pursuant to exercise of an Option shall be determined by the   Administrator, subject to the following:
  
	
   
  	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  	
  
i.
  	
  
 
  	
  
In the case   of an Incentive Stock Option
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
  
1.
  	
  
 
  	
  
granted to   an Employee who, at the time the Incentive Stock Option is granted, owns   stock representing more than 10% of the voting power of all classes of stock   of the Company or any Parent or Subsidiary, the per Share exercise price   shall be no less than 110% of the Fair Market Value per Share on the date of   grant.
  
	
   
  	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
  
2.
  	
  
 
  	
  
granted to   any Employee other than an Employee described in paragraph (A) immediately   above, the per Share exercise price shall be no less than 100% of the Fair   Market Value per Share on the date of grant.
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
   
  	
  
 
  	
  
 
  	
  
ii.
  	
  
 
  	
  
In the case   of a Nonstatutory Stock Option, the per Share exercise price shall be   determined by the Administrator. In the case of a Nonstatutory Stock Option   intended to qualify as “performance-based compensation” within the meaning of   Section 162(m) of the Code, the per Share exercise price shall be no   less than 100% of the Fair Market Value per Share on the date of grant.
  
	
  
 
  	
  
 
  	
  
 
  	
   
 	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  	
  
iii.
  	
  
 
  	
  
Notwithstanding   the foregoing, Options may be granted with a per Share exercise price of less   than 100% of the Fair Market Value per Share on the date of grant pursuant to   a merger or other corporate transaction.
  
	
   
  	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
   
 	
  
b.
  	
  
Waiting   Period and Exercise Dates. At the time an Option is   granted, the Administrator shall fix the period within which the Option may   be exercised and shall determine any conditions that must be satisfied before   the Option may be exercised.
  
	
  
 
  	
   
 	
   
 	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
   
 	
  
c.
  	
  
Form of   Consideration. The Administrator shall determine the   acceptable form of consideration for exercising an Option, including the   method of payment. In the case of an Incentive Stock Option, the Administrator   shall determine the acceptable form of consideration at the time of grant.   Such consideration may consist entirely of:
  
	
   
  	
   
 	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
   
 	
  
 
  	
  
i.
  	
  
 
  	
  
cash;
  
	
  
 
  	
   
 	
  
 
  	
   
 	
  
 
  	
  
 
  
	
  
 
  	
   
 	
  
 
  	
  
ii.
  	
  
 
  	
  
check;
  
	
   
  	
   
 	
  
 
  	
   
 	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
   
 	
  
 
  	
  
iii.
  	
  
 
  	
  
promissory   note;
  
	
  
 
  	
   
 	
  
 
  	
   
 	
  
 
  	
  
 
  
	
  
 
  	
   
 	
  
 
  	
  
iv.
  	
  
 
  	
  
other Shares   which, in the case of Shares acquired directly or indirectly from the   Company, (A) have been owned by the Optionee for more than six (6)   months on the date of surrender, and (B) have a Fair Market Value on the   date of surrender equal to the aggregate exercise price of the Shares as to   which said Option shall be exercised;
  
	
   
  	
   
 	
  
 
  	
   
 	
  
 
  	
  
 
  
	
  
 
  	
   
 	
  
 
  	
  
v.
  	
  
 
  	
  
consideration   received by the Company under a cashless exercise program implemented by the   Company in connection with the Plan;
  
	
  
 
  	
   
 	
  
 
  	
   
 	
  
 
  	
  
 
  
	
  
 
  	
   
 	
  
 
  	
  
vi.
  	
  
 
  	
  
a reduction   in the amount of any Company liability to the Optionee, including any   liability attributable to the Optionee’s participation in any   Company-sponsored deferred compensation program or arrangement;
  
	
   
  	
   
 	
  
 
  	
   
 	
  
 
  	
  
 
  
	
  
 
  	
   
 	
  
 
  	
  
vii.
  	
  
 
  	
  
any   combination of the foregoing methods of payment; or
  
	
  
 
  	
   
 	
  
 
  	
   
 	
  
 
  	
  
 
  
	
  
 
  	
   
 	
  
 
  	
  
viii.
  	
  
 
  	
  
such other   consideration and method of payment for the issuance of Shares to the extent   permitted by Applicable Laws.
  
	
   
  	
   
 	
  
 
  	
   
 	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
  
10.
  	
  
Exercise of   Option.
  
	
  
 
  	
  
 
  	
  
 
  	
   
 	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
   
 	
  
a.
  	
  
Procedure   for Exercise; Rights as a Stockholder. Any Option   granted hereunder shall be exercisable according to the terms of the Plan and   at such times and under such conditions as 
  

5

	
  
 
  	
  
 
  	
  
 
  	
  
determined   by the Administrator and set forth in the Option Agreement. Unless the   Administrator provides otherwise, vesting of Options granted hereunder shall   be suspended during any unpaid leave of absence. An Option may not be   exercised for a fraction of a Share.
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  	
  
An Option   shall be deemed exercised when the Company receives: (i) written or   electronic notice of exercise (in accordance with the Option Agreement) from   the person entitled to exercise the Option, and (ii) full payment for   the Shares with respect to which the Option is exercised. Full payment may   consist of any consideration and method of payment authorized by the Administrator   and permitted by the Option Agreement and the Plan. Shares issued upon   exercise of an Option shall be issued in the name of the Optionee or, if   requested by the Optionee, in the name of the Optionee and his or her spouse.   Until the Shares are issued (as evidenced by the appropriate entry on the   books of the Company or of a duly authorized transfer agent of the Company),   no right to vote or receive dividends or any other rights as a stockholder   shall exist with respect to the Optioned Stock, notwithstanding the exercise   of the Option. The Company shall

issue (or cause to be issued) such Shares   promptly after the Option is exercised. No adjustment will be made for a   dividend or other
 right for which the record date is prior to the date the   Shares are issued, except as provided in Section 13 of the Plan.
  
	
   
  	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  	
  
Exercising   an Option in any manner shall decrease the number of Shares thereafter   available, both for purposes of the Plan and for sale under the Option, by   the number of Shares as to which the Option is exercised.
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
   
 	
  
b.
  	
  
Termination   of Relationship as a Service Provider. If an   Optionee ceases to be a Service Provider, other than upon the Optionee’s   death or Disability, the Optionee may exercise his or her Option within such   period of time as is specified in the Option Agreement to the extent that the   Option is vested on the date of termination (but in no event later than the   expiration of the term of such Option as set forth in the Option Agreement).   In the absence of a specified time in the Option Agreement, the Option shall   remain exercisable for three months following the Optionee’s termination. If,   on the date of termination, the Optionee is not vested as to his or her   entire Option, the Shares covered by the unvested portion of the Option shall   revert to the Plan. If, after termination, the Optionee does not exercise his   or her Option within the time specified by the Administrator, the Option   shall terminate, and the Shares covered
by such Option shall revert to the   Plan.
  
	
   
  	
   
 	
  
 
  	
  
 
  
	
  
 
  	
   
 	
  
c.
  	
  
Disability   of Optionee. If an Optionee ceases to be a Service   Provider as a result of the Optionee’s Disability, the Optionee may exercise   his or her Option within such period of time as is specified in the Option   Agreement to the extent the Option is vested on the date of termination (but   in no event later than the expiration of the term of such Option as set forth   in the Option Agreement). In the absence of a specified time in the Option   Agreement, the Option shall remain exercisable for 12 months following the Optionee’s   termination. If, on the date of termination, the Optionee is not vested as to   his or her entire Option, the Shares covered by the unvested portion of the   Option shall revert to the Plan. If, after termination, the Optionee does not   exercise his or her Option within the time specified herein, the Option shall   terminate, and the Shares covered by such Option shall revert to the Plan.
  
	
  
 
  	
   
 	
  
 
  	
  
 
  
	
  
 
  	
   
 	
  
d.
  	
  
Death of   Optionee. If an Optionee dies while a Service   Provider, the Option may be exercised following the Optionee’s death within   such period of time as is specified in the Option Agreement to the extent   that the Option is vested on the date of death (but in no event may the   option be exercised later than the expiration of the term of such Option as   set forth in the Option Agreement), by the Optionee’s designated beneficiary,   provided such beneficiary has been designated prior to Optionee’s death in a   form acceptable to the Administrator. If no such beneficiary has been   designated by the Optionee, then such Option may be exercised by the personal   representative of the Optionee’s estate or by the person(s) to whom the   Option is transferred pursuant to the Optionee’s will or in accordance with   the laws of descent and distribution. In the absence of a specified time in   the Option Agreement, the Option shall
remain exercisable for 12 months   following Optionee’s death. If, at the time of death, Optionee is not vested   as to his or her entire Option, the Shares covered by the unvested portion of   the Option shall immediately revert to the Plan. If the Option is not so   exercised within the time specified herein, the Option shall terminate, and   the Shares covered by such Option shall revert to the Plan.
  

6

	
  
11.
  	
  
Transferability   of Options. Unless determined otherwise by the   Administrator, an Option may not be sold, pledged, assigned, hypothecated,   transferred, or disposed of in any manner other 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. If the Administrator makes an Option   transferable, such Option shall contain such additional terms and conditions   as the Administrator deems appropriate.
  
	
  
 
  	
   
 	
  
 
  	
  
 
  
	
  
12.
  	
  
Adjustments   Upon Changes in Capitalization, Merger or Change in Control.
  
	
  
 
  	
   
 	
  
 
  	
  
 
  
	
  
 
  	
   
 	
  
a.
  	
  
Changes in   Capitalization. Subject to any required action by   the stockholders of the Company, the number of shares of Common Stock that   have been authorized for issuance under the Plan but as to which no Options   have yet been granted or which have been returned to the Plan upon   cancellation or expiration of an Option, the number of Shares that may be   added annually to the Plan pursuant to Section 3(i)and the number of shares   of Common Stock as well as the price per share of Common Stock covered by   each such outstanding Option, shall be proportionately adjusted for any   increase or decrease in the number of issued shares of Common Stock resulting   from a stock split, reverse stock split, stock dividend, combination or   reclassification of the Common Stock, or any other increase or decrease in   the number of issued shares of Common Stock effected without receipt of   consideration by the Company; provided, however, that conversion of
any   convertible securities of the Company shall not be deemed to have been   “effected without receipt of consideration.” Such adjustment shall be made by   the Board, whose determination in that respect shall be final, binding and   conclusive. Except as expressly provided herein, no issuance by the Company   of shares of stock of any class, or securities convertible into shares of   stock of any class, shall affect, and no adjustment by reason thereof shall   be made with respect to, the number or price of shares of Common Stock   subject to an Option.
  
	
   
  	
   
 	
  
 
  	
  
 
  
	
  
 
  	
   
 	
  
b.
  	
  
Dissolution   or Liquidation. In the event of the proposed   dissolution or liquidation of the Company, the Administrator shall notify   each Optionee as soon as practicable prior to the effective date of such   proposed transaction. The Administrator in its discretion may provide for an   Optionee to have the right to exercise his or her Option until 10 days prior   to such transaction as to all of the Optioned Stock covered thereby,   including Shares as to which the Option would not otherwise be exercisable.   In addition, the Administrator may provide that any Company repurchase option   applicable to any Shares purchased upon exercise of an Option shall lapse as   to all such Shares, provided the proposed dissolution or liquidation takes   place at the time and in the manner contemplated. To the extent it has not   been previously exercised, an Option will terminate immediately prior to the   consummation of such proposed action.
  
	
  
 
  	
   
 	
  
 
  	
  
 
  
	
  
 
  	
   
 	
  
c.
  	
  
Merger or   Change in Control. In the event of a merger of the   Company with or into another corporation, or a Change in Control, each   outstanding Option shall be assumed or an equivalent option or right   substituted by the successor corporation or a Parent or Subsidiary of the   successor corporation.
  

	
  
 
  	
  
 
  	
  
In the event   that the successor corporation refuses to assume or substitute for the   Option, the Optionee shall fully vest in and have the right to exercise the   Option as to all of the Optioned Stock, including Shares as to which it would   not otherwise be vested or exercisable. If an Option becomes fully vested and   exercisable in lieu of assumption or substitution in the event of a merger or   sale of assets, the Administrator shall notify the Optionee in writing or   electronically that the Option shall be fully vested and exercisable for a   period of 15 days from the date of such notice, and the Option shall   terminate upon the expiration of such period.
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
For the   purposes of this subsection (c), the Option shall be considered assumed if,   following the merger or Change in Control, the option or right confers the   right to purchase or receive, for each Share of Optioned Stock subject to the   Option immediately prior to the merger or Change in Control, the   consideration (whether stock, cash, or other securities or property) received   in the merger or Change in Control by holders of Common Stock for each Share   held on the effective date of the transaction (and if holders were offered a   choice of consideration, the type of consideration chosen by the holders of a   majority of the outstanding Shares); provided, however, that if such   consideration received in the merger or Change in Control is not solely   common stock of the successor corporation or its Parent, the Administrator   may, with 
  

7

	
  
 
  	
  
 
  	
  
the consent   of the successor corporation, provide for the consideration to be received   upon the exercise of the Option, for each Share of Optioned Stock subject to   the Option, to be solely common stock of the successor corporation or its   Parent equal in fair market value to the per share consideration received by   holders of Common Stock in the merger or Change in Control.
  

	
  
13.
  	
  
Date of   Grant. The date of grant of an Option shall be, for   all purposes, the date on which the Administrator makes the determination   granting such Option, or such other later date as is determined by the   Administrator. Notice of the determination shall be provided to each Optionee   within a reasonable time after the date of such grant.
  
	
  
 
  	
  
 
  
	
  14.
  	
  
Amendment   and Termination of the Plan.
  
	
  
 
  	
  
 
  
	
  
 
  	
   
 	
  
a.
  	
  
Amendment   and Termination. The Board may at any time amend, alter,   suspend or terminate the Plan.
  
	
  
 
  	
   
 	
  
 
  	
  
 
  
	
  
 
  	
   
 	
  
b.
  	
  
Stockholder   Approval. The Company shall obtain stockholder   approval of any Plan amendment to the extent necessary and desirable to   comply with Applicable Laws.
  
	
  
 
  	
   
 	
  
 
  	
  
 
  
	
  
 
  	
   
 	
  
c.
  	
  
Effect of   Amendment or Termination. No amendment, alteration,   suspension or termination of the Plan shall impair the rights of any   Optionee, unless mutually agreed otherwise between the Optionee and the   Administrator, which agreement must be in writing and signed by the Optionee   and the Company. Termination of the Plan shall not affect the Administrator’s   ability to exercise the powers granted to it hereunder with respect to   Options granted under the Plan prior to the date of such termination.
  
	
   
  	
   
 	
  
 
  	
  
 
  
	
  
15.
  	
  
Conditions   Upon Issuance of Shares.
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
   
 	
  
a.
  	
  
Legal   Compliance. Shares shall not be issued pursuant to   the exercise of an Option unless the exercise of such Option and the issuance   and delivery of such Shares shall comply with Applicable Laws and shall be   further subject to the approval of counsel for the Company with respect to   such compliance.
  
	
  
 
  	
   
 	
  
 
  	
  
 
  
	
  
 
  	
   
 	
  
b.
  	
  
Investment   Representations. As a condition to the exercise of   an Option, the Company may require the person exercising such Option to   represent and warrant at the time of any such exercise that the Shares are   being purchased only for investment and without any present intention to sell   or distribute such Shares if, in the opinion of counsel for the Company, such   a representation is required.
  
	
   
  	
   
 	
  
 
  	
  
 
  
	
  
16.
  	
  
Inability to   Obtain Authority. The inability of the Company to   obtain authority from any regulatory body having jurisdiction, which   authority is deemed by the Company’s counsel to be necessary to the lawful   issuance and sale of any Shares hereunder, shall relieve the Company of any   liability in respect of the failure to issue or sell such Shares as to which   such requisite authority shall not have been obtained.
  
	
  
 
  	
  
 
  
	
  
17.
  	
  
Reservation   of Shares. The Company, during the term of this   Plan, will at all times reserve and keep available such number of Shares as   shall be sufficient to satisfy the requirements of the Plan.
  
	
  
 
  	
  
 
  
	
  
18.
  	
  
Stockholder   Approval. The Plan shall be subject to approval by   the stockholders of the Company within 12 months after the date the Plan is   adopted. Such stockholder approval shall be obtained in the manner and to the   degree required under Applicable Laws.
  
	
   
  	
   
  
	
  19.
  	
  Effective   Date of the Plan. The Plan shall be effective upon   the closing of the Company’s initial public offering of securities.
  

8EXHIBIT 10.7

NUVIM, INC.

2005 DIRECTOR STOCK OPTION PLAN

	
  
1.
  	
  
Purposes of   the Plan. The purposes of this 2005 Director Stock   Option Plan are to attract and retain the best available personnel for   service as Directors (as defined herein) of the Company, to provide   additional incentive to the Directors of the Company to serve as Directors,   and to encourage their continued service on the Board.
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
Options   granted under the Plan may be Incentive Stock Options or Nonstatutory Stock   Options, as determined by the Administrator at the time of grant.
  
	
   
  	
  
 
  
	
  
2.
  	
  
Definitions.   As used herein, the following definitions shall apply:
  
	
  
 
  	
  
 
  
	
  
 
  	
   
 	
  
a.
  	
  
“Board”   means the Board of Directors of the Company.
  
	
  
 
  	
   
 	
  
 
  	
  
 
  
	
  
 
  	
   
 	
  
b.
  	
  
“Change in   Control” means the occurrence of any of the following events:
  
	
  
 
  	
   
 	
  
 
  	
  
 
  
	
   
  	
  
 
  	
  
 
  	
  
i.
  	
  
 
  	
  
Any “person”   (as such term is used in Sections 13(d) and 14(d) of the Exchange Act)   becomes the “beneficial owner” (as defined in Rule 13d-3 of the Exchange   Act), directly or indirectly, of securities of the Company representing fifty   percent (50%) or more of the total voting power represented by the Company’s   then outstanding voting securities; or
  
	
  
 
  	
  
 
  	
  
 
  	
   
 	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  	
  
ii.
  	
  
 
  	
  
The   consummation of the sale or disposition by the Company of all or   substantially all of the Company’s assets;
  
	
  
 
  	
  
 
  	
  
 
  	
   
 	
  
 
  	
  
 
  
	
   
  	
  
 
  	
  
 
  	
  
iii.
  	
  
 
  	
  
A change in   the composition of the Board occurring within a two-year period, as a result   of which fewer than a majority of the directors are Incumbent Directors.   “Incumbent Directors” means directors who either (A) are Directors as of the   date hereof, or (B) are elected, or nominated for election, to the Board with   the affirmative votes of at least a majority of the Incumbent Directors at   the time of such election or nomination (but will not include an individual   whose election or nomination is in connection with an actual or threatened   proxy contest relating to the election of directors to the Company); or
  
	
  
 
  	
  
 
  	
  
 
  	
   
 	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  	
  
iv.
  	
  
 
  	
  
The   consummation of a merger or consolidation of the Company with any other   corporation, other than a merger or consolidation which would result in the   voting securities of the Company outstanding immediately prior thereto   continuing to represent (either by remaining outstanding or by being   converted into voting securities of the surviving entity or its parent) at   least fifty percent (50%) of the total voting power represented by the voting   securities of the Company or such surviving entity or its parent outstanding   immediately after such merger or consolidation.
  
	
   
  	
  
 
  	
  
 
  	
   
 	
  
 
  	
  
 
  
	
  
 
  	
   
 	
  
c.
  	
  
“Code” means   the Internal Revenue Code of 1986, as amended.
  
	
  
 
  	
   
 	
  
 
  	
  
 
  
	
  
 
  	
   
 	
  
d.
  	
  
“Common   Stock” means the common stock of the Company.
  
	
  
 
  	
   
 	
  
 
  	
  
 
  
	
  
 
  	
   
 	
  
e.
  	
  
“Company”   means NuVim, Inc., a Delaware corporation.
  
	
   
  	
   
 	
  
 
  	
  
 
  
	
  
 
  	
   
 	
  
f.
  	
  
“Director”   means a member of the Board.
  
	
  
 
  	
   
 	
  
 
  	
  
 
  
	
  
 
  	
   
 	
  
g.
  	
  
“Disability”   means total and permanent disability as defined in section 22(e)(3) of the   Code.
  
	
  
 
  	
   
 	
  
 
  	
  
 
  
	
  
 
  	
   
 	
  
h.
  	
  
“Employee”   means any person, including officers and Directors, employed by the Company   or any Parent or Subsidiary of the Company. The payment of a Director’s fee   by the Company shall not be sufficient in and of itself to constitute   “employment” by the Company. A Service Provider shall not cease to be an   Employee in the case of (i) any leave of absence approved by the Company   or (ii) transfers between locations of the Company or between the   Company, its Parent, 
  

	
  
 
  	
  
 
  	
  
 
  	
  
any   Subsidiary, or any successor. For purposes of Incentive Stock Options, no   such leave may exceed ninety days, unless reemployment upon expiration of   such leave is guaranteed by statute or contract. If reemployment upon   expiration of a leave of absence approved by the Company is not so   guaranteed, then three (3) months following the 91st day of   such leave any Incentive Stock Option held by the Optionee shall cease to be   treated as an Incentive Stock Option and shall be treated for tax purposes as   a Nonstatutory Stock Option. Neither service as a Director nor payment of a   director’s fee by the Company shall be sufficient to constitute “employment”   by the Company.
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
   
  	
  
 
  	
  
i.
  	
  
“Exchange   Act” means the Securities Exchange Act of 1934, as amended.
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
j.
  	
  
“Fair Market   Value” means, as of any date, the value of Common Stock determined as   follows:
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  	
  
i.
  	
  
 
  	
  
If the   Common Stock is listed on any established stock exchange or a national market   system, including without limitation the Nasdaq National Market or The Nasdaq   SmallCap Market of The Nasdaq Stock Market, its Fair Market Value shall be   the closing sales price for such stock (or the closing bid, if no sales were   reported) as quoted on such exchange or system for the last market trading   day prior to the time of determination as reported in The Wall Street Journal or   such other source as the Administrator deems reliable;
  
	
   
  	
  
 
  	
  
 
  	
   
 	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  	
  
ii.
  	
  
 
  	
  
If the   Common Stock is regularly quoted by a recognized securities dealer but   selling prices are not reported, the Fair Market Value of a Share of Common   Stock shall be the mean between the high bid and low asked prices for the   Common Stock for the last market trading day prior to the time of   determination, as reported in The Wall Street Journal or such other   source as the Board deems reliable; or
  
	
  
 
  	
  
 
  	
  
 
  	
   
 	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  	
  
iii.
  	
  
 
  	
  
In the   absence of an established market for the Common Stock, the Fair Market Value   thereof shall be determined in good faith by the Board.
  
	
   
  	
  
 
  	
  
 
  	
   
 	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
k.
  	
  
“Incentive   Stock Option” means an Option intended to qualify as an incentive stock   option within the meaning of Section 422 of the Code and the regulations   promulgated thereunder.
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
l.
  	
  
“Nonstatutory   Stock Option” means an Option not intended to qualify as an Incentive Stock   Option.
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
   
  	
  
 
  	
  
m.
  	
  
“Option”   means a stock option granted pursuant to the Plan.
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
n.
  	
  
“Optioned   Stock” means the Common Stock subject to an Option.
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
o.
  	
  
“Optionee”   means a Director who holds an Option.
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
   
  	
  
 
  	
  
p.
  	
  
“Parent”   means a “parent corporation,” whether now or hereafter existing, as defined   in Section 424(e) of the Code.
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
q.
  	
  
“Plan” means   this 2005 Director Stock Option Plan.
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
r.
  	
  
“Share”   means a share of the Common Stock, as adjusted in accordance with Section 10   of the Plan.
  
	
   
  	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
s.
  	
  
“Subsidiary”   means a “subsidiary corporation,” whether now or hereafter existing, as   defined in Section 424(f) of the Internal Revenue Code of 1986.
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
  
3.
  	
  
Stock   Subject to the Plan. Subject to the provisions of   Section 10 of the Plan, the maximum aggregate number of Shares which may be   optioned and sold under the Plan is 200,000 Shares (the “Pool”). The Shares   may be authorized, but unissued, or reacquired common stock.
  
	
  
 
  	
  
 
  
	
  
 
  	
  
If an Option   expires or becomes unexercisable without having been exercised in full, the   unpurchased Shares which were subject thereto shall become available for   future grant or sale under the Plan (unless the Plan has terminated). Shares   that have actually been issued under the Plan shall not be returned to the   Plan and shall not become available for future distribution under the Plan.
  

2

	
  
4.
  	
  
Administration   and Grants of Options under the Plan.  All grants of Options to Directors under   this Plan shall be automatic and nondiscretionary and shall be made strictly   in accordance with the following provisions:
  
	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  	
  
i.
  	
  
 
  	
  
No person   shall have any discretion to select which Directors shall be granted Options   or to determine the number of Shares to be covered by Options.
  
	
  
 
  	
  
 
  	
  
 
  	
   
 	
  
 
  	
  
 
  
	
   
  	
  
 
  	
  
 
  	
  
ii.
  	
  
 
  	
  
Each   Director shall be automatically granted an Option to purchase 10,000 Shares   (the “First Option”) on the date on which the later of the following events   occurs: (A) 10 days after the effective date of this Plan, as determined in   accordance with Section 6 hereof, or (B) the date on which such person first   becomes a Director, whether through election by the stockholders of the   Company or appointment by the Board to fill a vacancy.
  
	
  
 
  	
  
 
  	
  
 
  	
   
 	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  	
  
iii.
  	
  
 
  	
  
Each   Director shall be automatically granted an Option to purchase 7,500 Shares (a   “Subsequent Option”) on March 31 of each year commencing on March 15, 2005   provided he or she is then a Director; the foregoing notwithstanding, if the   Plan is not yet effective on March 31, 2005, the 7,500 option grant for 2005   shall be made 45 days after the effective date of the Plan.
  
	
   
  	
  
 
  	
  
 
  	
   
 	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  	
  
iv.
  	
  
 
  	
  
Notwithstanding   the provisions of subsections (ii) and (iii) hereof, any exercise of an   Option granted before the Company has obtained stockholder approval of the   Plan shall be conditioned upon obtaining such stockholder approval of the   Plan.
  
	
  
 
  	
  
 
  	
  
 
  	
   
 	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  	
  
v.
  	
  
 
  	
  
The terms of   a First Option granted hereunder shall be as follows:
  
	
   
  	
  
 
  	
  
 
  	
   
 	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
  
(A) the term   of the First Option shall be ten years, unless the Optionee is receiving an   Incentive Stock Option and, on the date of grant, owns 10% or more of the   outstanding Common Stock of the Company, in which case the First Option shall   have a term of five years.
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
  
(B) the   First Option shall be exercisable only while the Director remains a Director   of the Company, except as set forth in Sections 8 and 10 hereof.
  
	
   
  	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
  
(C) the   exercise price per Share shall be 100% of the Fair Market Value per Share on   the date of grant of the First Option, unless the Optionee is receiving an   Incentive Stock Option and, on the date of grant, owns 10% or more of the   outstanding Common Stock of the Company, in which case, the exercise price   per Share shall be 110% of the Fair Market Value per Share.
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
  
(D) subject   to Section 10 hereof, one-third of the Shares subject to the First Option   shall become exercisable 12 months after the date of grant, provided that the   Optionee continues to serve as a Director on such date, an additional   one-third of the Shares shall become exercisable 12 months thereafter,   provided that the Optionee continues to serve as a Director on such date, and   the last one-third of the Shares subject to the First Option shall become   exercisable 12 months thereafter, provided that the Optionee continues to   serve as a Director on such date.
  
	
   
  	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  	
  
vi.
  	
  
 
  	
  
The terms of   a Subsequent Option granted hereunder shall be as follows:
  
	
  
 
  	
  
 
  	
  
 
  	
   
 	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
  
(A) the term   of the Subsequent Option shall be 10 years, unless the Optionee is receiving   an Incentive Stock Option and, on the date of grant, owns 10% or more of the   outstanding Common Stock of the Company, in which case the Subsequent Option   shall have a term of five years.
  
	
   
  	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
  
(B) the   Subsequent Option shall be exercisable only while the Director remains a   Director of the Company, except as set forth in Sections 8 and 10 hereof.
  

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(C) the   exercise price per Share shall be 100% of the Fair Market Value per Share on   the date of grant of the Subsequent Option, unless the Optionee is receiving   an Incentive Stock Option and, on the date of grant, owns 10% or more of the   outstanding Common Stock of the Company, in which case, the exercise price   per Share shall be 110% of the Fair Market Value per Share.
  
	
   
  	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
  
(D) subject   to Section 10 hereof, the Subsequent Option, one-third of the Shares shall   become exercisable 12 months after the date of grant, provided that the   Optionee continues to serve as a Director on such date, an additional   one-third of the Shares shall become exercisable 12 months thereafter,   provided that the Optionee continues to serve as a Director on such date, and   the last on-third of the Shares shall become exercisable 12 months   thereafter, provided that the Optionee continues to serve as a Director on   such date.
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  	
  
vii.
  	
  
 
  	
  
In the event   that any Option granted under the Plan would cause the number of Shares   subject to outstanding Options plus the number of Shares previously purchased   under Options to exceed the Pool, then the remaining Shares available for   Option grant shall be granted under Options to the Directors on a pro rata   basis. No further grants shall be made until such time, if any, as additional   Shares become available for grant under the Plan through action of the Board   or the stockholders to increase the number of Shares which may be issued   under the Plan or through cancellation or expiration of Options previously   granted hereunder.
  
	
   
  	
  
 
  	
  
 
  	
   
 	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  	
  
viii.
  	
  
 
  	
  
Each Option   shall be designated in the Option Agreement as either an Incentive Stock   Option or a Nonstatutory Stock Option, provided, however, that only Directors   who are also Employees may be granted Incentive Stock Options. Moreover,   notwithstanding such designation, to the extent that the aggregate Fair   Market Value of the Shares with respect to which Incentive Stock Options are   exercisable for the first time by the Optionee during any calendar year   (under all plans of the Company and any Parent or Subsidiary) exceeds   $100,000, such Options shall be treated as Nonstatutory Stock Options. For   purposes of this Section 6(a), Incentive Stock Options shall be taken   into account in the order in which they were granted. The Fair Market Value   of the Shares shall be determined as of the time the Option with respect to   such Shares is granted.
  
	
  
 
  	
  
 
  	
  
 
  	
   
 	
  
 
  	
  
 
  
	
  5.
  	
  
Eligibility.   Options may be granted only to Directors. All Options shall be automatically   granted in accordance with the terms set forth in Section 4 hereof.
  
	
  
 
  	
  
 
  
	
  
 
  	
  
The Plan   shall not confer upon any Optionee any right with respect to continuation of   service as a Director or nomination to serve as a Director, nor shall it   interfere in any way with any rights which the Director or the Company may   have to terminate the Director’s relationship with the Company at any time.
  
	
  
 
  	
  
 
  
	
  
6.
  	
  
Term of Plan.   The Plan shall become effective upon the closing date of the Company’s   initial public offering of its securities. It shall continue in effect for a   term of 10 years unless sooner terminated under Section 11 of the Plan.
  
	
  
 
  	
  
 
  
	
  
7.
  	
  
Form of   Consideration. The consideration to be paid for the   Shares to be issued upon exercise of an Option, including the method of   payment, shall consist of (i) cash, (ii) check, (iii) other shares which (x)   in the case of Shares acquired upon exercise of an option, have been owned by   the Optionee for more than six months on the date of surrender, and (y) have   a Fair Market Value on the date of surrender equal to the aggregate exercise   price of the Shares as to which said Option shall be exercised, (iv)   consideration received by the Company under a cashless exercise program   implemented by the Company in connection with the Plan, or (v) any   combination of the foregoing methods of payment.
  

4

	
  
8.
  	
  
Exercise of   Option.
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
   
 	
  
a.
  	
  
Procedure   for Exercise; Rights as a Stockholder. Any Option   granted hereunder shall be exercisable at such times as are set forth in   Section 4 hereof; provided, however, that no Options shall be exercisable   until stockholder approval of the Plan has been obtained.
  
	
  
 
  	
   
 	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  	
  
An Option   may not be exercised for a fraction of a Share.
  
	
   
  	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  	
  
An Option   shall be deemed to be exercised when written notice of such exercise has been   given to the Company in accordance with the terms of the Option by the person   entitled to exercise the Option and full payment for the Shares with respect   to which the Option is exercised has been received by the Company. Full   payment may consist of any consideration and method of payment allowable   under Section 7 of the Plan. Until the issuance (as evidenced by the   appropriate entry on the books of the Company or of a duly authorized   transfer agent of the Company) of the stock certificate evidencing such   Shares, no right to vote or receive dividends or any other rights as a   stockholder shall exist with respect to the Optioned Stock, notwithstanding   the exercise of the Option. A share certificate for the number of Shares so acquired   shall be issued to the Optionee as soon as practicable after exercise of the   Option. No adjustment shall be made for a
dividend or other right for which   the record date is prior to the date the stock certificate is issued, except   as provided in Section 10 of the Plan.
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  	
  
Exercise of   an Option in any manner shall result in a decrease in the number of Shares   which thereafter may be available, both for purposes of the Plan and for sale   under the Option, by the number of Shares as to which the Option is   exercised.
  
	
   
  	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
   
 	
  
b.
  	
  
Termination   of Continuous Status as a Director. Subject to   Section 10 hereof, in the event an Optionee’s status as a Director terminates   (other than upon the Optionee’s death or Disability), the Optionee may   exercise his or her Option, but only within three months following the date   of such termination, and only to the extent that the Optionee was entitled to   exercise it on the date of such termination (but in no event later than the   expiration of its ten-year term). To the extent that the Optionee was not   vested as to his or her entire Option on the date of such termination, the   Shares covered by the unvested portion of the Option shall revert to the   Plan. If, after termination, the Optionee does not exercise his or her Option   within the time specified herein, the Option shall terminate, and the Shares   covered by such Option shall revert to the Plan.
  
	
  
 
  	
   
 	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
c.
  	
  
Disability   of Optionee. In the event Optionee’s status as a   Director terminates as a result of Disability, the Optionee may exercise his   or her Option, but only within 12 months following the date of such   termination, and only to the extent that the Optionee was entitled to   exercise it on the date of such termination (but in no event later than the   expiration of its ten-year term). To the extent that the Optionee was not   vested as to his or her entire Option on the date of termination, the Shares   covered by the unvested portion of the Option shall revert to the Plan. If,   after termination, the Optionee does not exercise his or her Option within   the time specified herein, the Option shall terminate, and the Shares covered   by such Option shall revert to the Plan.
  
	
   
  	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
d.
  	
  
Death of   Optionee. In the event of an Optionee’s death, the   Optionee’s estate or a person who acquired the right to exercise the Option   by bequest or inheritance may exercise the Option, but only within 12 months   following the date of death, and only to the extent that the Optionee was   entitled to exercise it on the date of death (but in no event later than the   expiration of its ten-year term). To the extent that the Optionee was not   vested as to his or her entire an Option on the date of death, the Shares   covered by the unvested portion of the Option shall revert to the Plan. To   the extent that the Optionee’s estate or a person who acquired the right to   exercise such Option does not exercise such Option (to the extent otherwise   so entitled) within the time specified herein, the Option shall terminate,   and the Shares covered by such Option shall revert to the Plan.
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
  
9.
  	
  
Non-Transferability   of Options. The Option may not be sold, pledged,   assigned, hypothecated, transferred, or disposed of in any manner other 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 the   Option shall be binding upon the executors, administrators, heirs, successors   and assigns of the Optionee.
  

5

	
  
10.
  	
  
Adjustments   Upon Changes in Capitalization, Dissolution, Merger or Change in Control.
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
a.
  	
  
Changes in   Capitalization. Subject to any required action by   the stockholders of the Company, the number of Shares covered by each   outstanding Option, the number of Shares which have been authorized for   issuance under the Plan but as to which no Options have yet been granted or   which have been returned to the Plan upon cancellation or expiration of an   Option, as well as the price per Share covered by each such outstanding   Option, and the number of Shares issuable pursuant to the automatic grant   provisions of Section 4 hereof shall be proportionately adjusted for any   increase or decrease in the number of issued Shares resulting from a stock   split, reverse stock split, stock dividend, combination or reclassification   of the Common Stock, or any other increase or decrease in the number of   issued Shares effected without receipt of consideration by the Company;   provided, however, that conversion of any convertible securities of the
Company shall not be deemed to have been “effected without receipt of   consideration.” Except as expressly provided herein, no issuance by the   Company of shares of stock of any class, or securities convertible into   shares of stock of any class, shall affect, and no adjustment by reason   thereof shall be made with respect to, the number or price of Shares subject   to an Option.
  
	
   
  	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
b.
  	
  
Dissolution   or Liquidation. In the event of the proposed   dissolution or liquidation of the Company, to the extent that an Option has   not been previously exercised, it shall terminate immediately prior to the   consummation of such proposed action.
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
c.
  	
  
Merger or   Change in Control. In the event of a merger of the   Company with or into another corporation or a Change in Control of the   Company, outstanding Options may be assumed or equivalent options may be   substituted by the successor corporation or a Parent or Subsidiary thereof   (the “Successor Corporation”). If an option is assumed or substituted for,   the Option or equivalent option shall continue to be exercisable as provided   in Section 4 hereof for so long as the Optionee serves as a Director or a   director of the Successor Corporation. Following such assumption or   substitution, if the Optionee’s status as a Director or director of Successor   Corporation, as applicable, is terminated other than upon a voluntary   resignation by the Optionee, the Option or option shall become fully   exercisable, including as to Shares for which it would not otherwise be   exercisable. Thereafter, the Option or option shall remain
exercisable in   accordance with Section 8(b) through (d) above.
  
	
   
  	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
If the   Successor Corporation does not assume an outstanding Option or substitute for   it an equivalent option, the Option shall become fully vested and   exercisable, including as to Shares for which it would not otherwise be   exercisable. In such event the Board shall notify the Optionee that the   Option shall be fully exercisable for a period of thirty (30) days from the   date of such notice, and upon the expiration of such period the Option shall   terminate.
  
	
  
 
  	
  
 
  
	
  
 
  	
  
For the   purposes of this Section 10(c), an Option shall be considered assumed if,   following the merger or Change in Control, the Option confers the right to   purchase or receive, for each Share of Optioned Stock subject to the Option   immediately prior to the merger or Change in Control, the consideration   (whether stock, cash, or other securities or property) received in the merger   or Change in Control by holders of Common Stock for each Share held on the   effective date of the transaction (and if holders were offered a choice of   consideration, the type of consideration chosen by the holders of a majority   of the outstanding Shares). If such consideration received in the merger or   Change in Control is not solely common stock of the successor corporation or   its Parent, the Administrator may, with the consent of the successor   corporation, provide for the consideration to be received upon the exercise   of the Option, for each Share of Optioned
Stock subject to the Option, to be   solely common stock of the successor corporation or its Parent equal in fair   market value to the per share consideration received by holders of Common   Stock in the merger or Change in Control.
  

6

	
  
11.
  	
  
Amendment   and Termination of the Plan.
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
a.
  	
  
Amendment   and Termination. The Board may at any time amend,   alter, suspend, or discontinue the Plan, but no amendment, alteration,   suspension, or discontinuation shall be made which would impair the rights of   any Optionee under any grant theretofore made, without his or her consent. In   addition, to the extent necessary and desirable to comply with any applicable   law, regulation or stock exchange rule, the Company shall obtain stockholder   approval of any Plan amendment in such a manner and to such a degree as   required.
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
   
  	
  
 
  	
  
b.
  	
  
Effect of   Amendment or Termination. Any such amendment or   termination of the Plan shall not affect Options already granted and such   Options shall remain in full force and effect as if this Plan had not been   amended or terminated.
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
  
12.
  	
  
Time of   Granting Options. The date of grant of an Option   shall, for all purposes, be the date determined in accordance with Section 4   hereof.
  
	
  
 
  	
  
 
  
	
  
13.
  	
  
Conditions   Upon Issuance of Shares. Shares shall not be issued   pursuant to the exercise of an Option unless the exercise of such Option and   the issuance and delivery of such Shares pursuant thereto shall comply with   all relevant provisions of law, including, without limitation, the Securities   Act of 1933, as amended, the Exchange Act, the rules and regulations   promulgated thereunder, state securities laws, and the requirements of any   stock exchange upon which the Shares may then be listed, and shall be further   subject to the approval of counsel for the Company with respect to such   compliance.
  
	
   
  	
  
 
  
	
  
 
  	
  
As a   condition to the exercise of an Option, the Company may require the person   exercising such Option to represent and warrant at the time of any such   exercise that the Shares are being purchased only for investment and without   any present intention to sell or distribute such Shares, if, in the opinion   of counsel for the Company, such a representation is required by any of the   aforementioned relevant provisions of law.
  
	
  
 
  	
  
 
  
	
  
 
  	
  
Inability of   the Company to obtain authority from any regulatory body having jurisdiction,   which authority is deemed by the Company’s counsel to be necessary to the   lawful issuance and sale of any Shares hereunder, shall relieve the Company   of any liability in respect of the failure to issue or sell such Shares as to   which such requisite authority shall not have been obtained.
  
	
  
 
  	
  
 
  
	
  
14.
  	
  
Reservation   of Shares. The Company, during the term of this   Plan, will at all times reserve and keep available such number of Shares as   shall be sufficient to satisfy the requirements of the Plan.
  
	
  
 
  	
  
 
  
	
  15.
  	
  Option   Agreement. Options shall be evidenced by written   option agreements in such form as the Board shall approve.
  

7

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