Document:

BLACK MOUNTAIN HOLDINGS, INC. 

Date: April 19, 2005

To: Sami Miro

From: Andy Moorer

Re: Additional Terms of BMH PPM and Sale of Vairex Stock

Pursuant to our previous conversations, the transaction contemplated between Black Mountain Holdings, Inc. (BMH) and Sami Miro (Miro) is amended as follows:

1.)     The basic terms:

	 	
a.
	
The sale of 750,000 shares of Vairex Common Stock owned by BMH to Miro pursuant to a Stock Purchase Agreement in exchange for a Note bearing interest at the current prime rate with a maturity date of September 30, 2005.  The Note is to be paid in monthly installments of $12,500 beginning April 30, 2005.  Upon retirement of the Note, 750,000 shares of Vairex Common Stock will be transferred to Miro.  Should any portion of the Note remain unpaid by September 30, 2005 then the Vairex Common Stock will be transferred to Miro on a pro-rata basis based on actual payments received.

	 	 	 
	 	
b.
	
The sale of BMH Common Stock to Miro pursuant to a Subscription Agreement for cash.  The shares of BMH Common Stock will be issued to Miro in proportion to actual cash payments received from Miro up to a maximum of 750,000 shares and $75,000.  The Subscription Agreement expires December 31, 2005.

	 	 	 
	 	
c.
	
The issuance of BMH Common Stock pursuant to a Consultation and Securities Compensation Agreement for services.  The shares of BMH Common Stock will be issued to Miro in monthly installments of 50,000 shares per month during the initial term of the agreement (January 2005-May 2005).

2.)       If additional shares are issued to me for services rendered to BMH (and/or subsidiaries), the result of which increases the total outstanding shares in BMH in excess of 3M (without contemplating the pending transactions between BMH and Miro referred to above), or if loans to BMH (and/or subsidiaries) made personally by me are converted into stock rather than repaid, the result of which increases the total outstanding shares in BMH in excess of 3M (without contemplating the pending transactions between BMH and Miro referred to above), then BMH will compensate Miro on a share for share basis sufficiently enough to mitigate the dilution Miro would incur from the issuances made to me.

3.)       BMH will not enter into any financing arrangement, the result of which would be to dilute your ownership interest without prior authorization from you, said authorization to not be unreasonably withheld.

If the aforementioned is in agreement with your understanding of the nature of the changes to our previously distributed documents, please indicate your concurrence by signing below and I will make the necessary changes to the documents for execution purposes.

I concur with the changes described above:_______________________    Date:_______

 

7301 East Sundance Trail; Suite C-101a / Carefree, Arizona 85377

P.O. Box 3618 / Carefree, Arizona 85377

(480) 488-9053Unassociated Document

    
      
        

      

      Exhibit
        10.1

      IFT
        CORPORATION

      EQUITY
        INCENTIVE PLAN

      

      1.    Establishment,
        Purpose and Term of Plan.

      

      1.1    Establishment.
        IFT
        Corporation, a Delaware corporation, hereby establishes the IFT Corporation
        Equity Incentive Plan ("Plan")
        effective as of July 12, 2005, the date of its approval by the stockholders
        of
        the Company ("Effective
        Date").

      

      1.2    Purpose.
        The
        purpose of the Plan is to advance the interests of IFT Corporation and its
        subsidiaries (“Company”)
        and
        its stockholders by providing an incentive to attract, retain and reward
        persons
        performing services for the Company and by motivating such persons to contribute
        to the growth and profitability of the Company. The Plan seeks to achieve
        this
        purpose by providing for Awards in the form of Options and Stock
        Bonuses.

      

      1.3    Term
        of Plan.
        The
        Plan shall continue in effect until the earlier of its termination by the
        Board
        or the date on which all of the shares of Stock available for issuance under
        the
        Plan have been issued and all restrictions on such shares under the terms
        of the
        Plan and the agreements evidencing Awards granted under the Plan have lapsed.
        However, all Incentive Stock Options shall be granted, if at all, within
        ten
        (10) years from the date the Plan is duly approved by the stockholders of
        the
        Company.

      

      2.    Definitions
        and Construction.

      

      2.1    Definitions.
        Whenever used herein, the following terms shall have their respective meanings
        set forth below:

      

      (a)    "Award"
        means
        any Stock Option or Stock Bonus granted under the Plan.

      

      (b)    "Award
        Agreement"
        means a
        written agreement between the Company and a full time employee of the Company
        (a
“Participant”)
        setting forth the terms, conditions and restrictions of the Award granted
        to the
        Participant. An Award Agreement may be an "Option Agreement" or a "Stock
        Bonus
        Agreement."

      

      (c)    "Cause"
        means:
        (i) with respect to a Participant who is a party to a written employment
        agreement with the Company, as the case may be, which contains a "for cause"
        definition or "cause" (or words of like import) for purposes of termination
        of
        employment thereunder by the Company, "for cause" or "cause" as defined in
        the
        most recent of such agreements; or (ii) in all other cases, as determined
        by the
        Administrator in its sole discretion, that one or more of the following has
        occurred: (A) any failure by a Participant to substantially perform his or
        her
        employment duties which shall not have been corrected within thirty (30)
        days
        following written notice thereof; (B) any engaging by such Participant in
        misconduct or, in the case of an officer Participant, any failure or refusal
        by
        such officer Participant to follow the directions of the Company's Board
        of
        Directors or Chief Executive Officer of the Company which, in either case,
        is
        injurious to the Company; (C) any breach by a Participant of any obligation
        or
        specification contained in the instrument pursuant to which an Option is
        granted; or (D) such Participant's conviction or entry of a plea of nolo
        contendere in respect of any felony, or of a misdemeanor which results in
        or is
        reasonably expected to result in economic or reputational injury to the
        Company.

      

      (d)    "Committee"
        means
        the Compensation Committee or other committee of the Board duly appointed
        to
        administer the Plan and having such powers as shall be specified by the Board.
        If no committee of the Board has been appointed to administer the Plan, the
        Board shall exercise all of the powers of the Committee granted herein, and,
        in
        any event, the Board may in its discretion exercise any or all of such
        powers.

      

      (e)    "Disability"
        means
        the permanent and total disability of the Participant, within the meaning
        of
        Section 22(e)(3) of the Internal Revenue Code of 1986, as amended, and any
        applicable regulations promulgated thereunder (the “Code”).

      

      (f)    "Dividend
        Equivalent"
        means a
        credit, made at the discretion of the Committee or as otherwise provided
        by the
        Plan, to the account of a Participant in an amount equal to the cash dividends
        paid on one share of Stock for each share of Stock represented by an Award
        held
        by such Participant.

      

      (g)    "Fair
        Market Value"
        means,
        as of any date, the value of a share of Stock or other property as determined
        by
        the Committee, in its discretion, subject to the following: (i)
        If,
        on
        such date, the Stock is listed on a national securities exchange or market
        system, the Fair Market Value of a share of Stock shall be the closing price
        of
        a share of Stock (or the mean of the closing bid and asked prices of a share
        of
        Stock if the Stock is so quoted instead) as quoted on the American Stock
        Exchange or such other national securities exchange or market system
        constituting the primary market for the Stock, as reported in The
        Wall Street Journal
        or such
        other source as the Company deems reliable. If the relevant date does not
        fall
        on a day on which the Stock has traded on such securities exchange or market
        system, the date on which the Fair Market Value shall be established shall
        be
        the first day on which the Stock was so traded after the relevant date, or
        such
        other appropriate day as shall be determined by the Committee, in its
        discretion.

      
        
          
          

        

        
          1

          
            

          

        

        
          
          

        

      

      

      (h)    "Incentive
        Stock Option"
        means an
        Option intended to be (as set forth in the Award Agreement) and which qualifies
        as an incentive stock option within the meaning of Section 422(b) of the
        Code.

      

      (i)    "Insider"
        means an
        Officer, a member of the Board or any other person whose transactions in
        Stock
        are subject to Section 16 of the Exchange Act.

      

      (j)    "Nonstatutory
        Stock Option"
        means an
        Option not intended to be (as set forth in the Award Agreement) an incentive
        stock option within the meaning of Section 422(b) of the Code.

      

      (k)    "Option"
        means
        the right to purchase Stock at a stated price for a specified period of time
        granted to a participant pursuant to Section 6 of the Plan. An Option may
        be
        either an Incentive Stock Option or a Nonstatutory Stock Option.

      

      (l)    "Predecessor
        Plan"
        means,
        the IFT Corporation Key Employee Stock Option Plan.

      

      (m)    "Service"
        means a
        Participant's employment with the Company as an Employee. Unless otherwise
        determined by the Board, a Participant's Service shall be deemed to have
        terminated if the Participant ceases to render service to the Company. However,
        a Participant's Service shall not be deemed to have terminated merely because
        of
        a change in the Company for which the Participant renders such Service in
        such
        initial capacity, provided that there is no interruption or termination of
        the
        Participant's Service. Furthermore, a Participant's Service shall not be
        deemed
        to have terminated if the Participant takes any bona fide leave of absence
        approved by the Company of ninety (90) days or less. In the event of a leave
        in
        excess of ninety (90) days, the Participant's Service shall be deemed to
        terminate on the ninety-first (91st
        ) day of
        the leave unless the Participant's right to return to Service is guaranteed
        by
        statute or contract. Notwithstanding the foregoing, unless otherwise designated
        by the Company or required by law, a leave of absence shall not be treated
        as
        Service for purposes of determining vesting under the Participant's Award
        Agreement. A Participant's Service shall be deemed to have terminated either
        upon an actual termination of Service. Subject to the foregoing, the Company,
        in
        its discretion, shall determine whether the Participant's Service has terminated
        and the effective date of such termination.

      

      (n)    "Stock"
        means
        the common stock of IFT Corporation, as adjusted from time to time in accordance
        with Section 4.2 of the Plan.

      

      (o)    "Stock
        Bonus"
        means
        Stock granted to a Participant pursuant to Section 7 of the Plan.

      

      (p)    "Ten
        Percent Owner"
        means a
        Participant who, at the time an Option is granted to the Participant, owns
        stock
        possessing more than ten percent (10%) of the total combined voting power
        of all
        classes of stock of the Company within the meaning of Section 422(b)(6) of
        the
        Code.

      

      2.2    Construction.
        Captions and titles contained herein are for convenience only and shall not
        affect the meaning or interpretation of any provision of the Plan. Except
        when
        otherwise indicated by the context, the singular shall include the plural
        and
        the plural shall include the singular. Use of the term "or" is not intended
        to
        be exclusive, unless the context clearly requires otherwise.

      

      3.    Administration.

      

      3.1    Administration
        by the Committee.
        The
        Plan shall be administered by the Committee. All questions of interpretation
        of
        the Plan or of any Award shall be determined by the Committee, and such
        determinations shall be final and binding upon all persons having an interest
        in
        the Plan or such Award.

      

      3.2    Administration
        with Respect to Insiders.
        With
        respect to participation by Insiders in the Plan, at any time that any class
        of
        equity security of the Company is registered pursuant to Section 12 of the
        Securities Exchange Act of 1934, as amended (the “Exchange Act”), the Plan shall
        be administered in compliance with the requirements, if any, of Rule 16b-3
        under
        the Exchange Act, as amended from time to time, or any successor rule or
        regulation (“Rule
        16b-3”).

      

      3.3    Committee
        Complying with Section 162(m).
        If the
        Company is a "publicly held corporation" within the meaning of Section 162(m),
        the Board may establish a Committee of "outside
        directors"
        within
        the meaning of Section 162(m) to approve the grant of any Award which might
        reasonably be anticipated to result in the payment of employee remuneration
        that
        would otherwise exceed the limit on employee remuneration deductible for
        income
        tax purposes pursuant to Section 162(m).

      

      3.4    Powers
        of the Committee.
        In
        addition to any other powers set forth in the Plan and subject to the provisions
        of the Plan, the Committee shall have the full and final power and authority,
        in
        its discretion:

      

      (a)    to
        determine the persons to whom, and the time or times at which, Awards shall
        be
        granted and the number of shares of Stock to be subject to each
        Award;

      
        
          
          

        

        
          2

          
            

          

        

        
          
          

        

      

       

      (b)    to
        determine the type of Award granted and to designate Options as Incentive
        Stock
        Options or Nonstatutory Stock Options;

      

      (c)    to
        determine the Fair Market Value of shares of Stock or other
        property;

      

      (d)    to
        determine the terms, conditions and restrictions applicable to each Award
        (which
        need not be identical) and any shares acquired pursuant thereto, including,
        without limitation, (i) the exercise or purchase price of shares purchased
        pursuant to any Award, (ii) the method of payment for shares purchased pursuant
        to any Award, (iii) the method for satisfaction of any tax withholding
        obligation arising in connection with Award, including by the withholding
        or
        delivery of shares of Stock, (iv) the timing, terms and conditions of the
        exercisability or vesting of any Award or any shares acquired pursuant thereto,
        (v) the Performance Goals applicable to any Award and the extent to which
        such
        Performance Goals have been attained, (vi) the time of the expiration of
        any
        Award, (vii) the effect of the Participant's termination of Service on any
        of
        the foregoing, and (viii) all other terms, conditions and restrictions
        applicable to any Award or shares acquired pursuant thereto not inconsistent
        with the terms of the Plan;

       

      
        (e)    to
          approve one or more forms of Award Agreement;

        

        (f)    to
          amend,
          modify, extend, cancel or renew any Award or to waive any restrictions
          or
          conditions applicable to any Award or any shares acquired pursuant
          thereto;

      

       

      (g)    to
        accelerate, continue, extend or defer the exercisability or vesting of any
        Award
        or any shares acquired pursuant thereto, including with respect to the period
        following a Participant's termination of Service;

      

      (h)    to
        correct any defect, supply any omission or reconcile any inconsistency in
        the
        Plan or any Award Agreement and to make all other determinations and take
        such
        other actions with respect to the Plan or any Award as the Committee may
        deem
        advisable to the extent not inconsistent with the provisions of the Plan
        or
        applicable law.

      

      3.6    Option
        Repricing.
        Without
        the affirmative vote of holders of a majority of the shares of Stock cast
        in
        person or by proxy at a meeting of the stockholders of the Company at which
        a
        quorum representing a majority of all outstanding shares of Stock is present
        or
        represented by proxy, the Board shall not approve a program providing for
        either
        (a) the cancellation of outstanding Options and the grant in substitution
        therefore of new Options having a lower exercise price or (b) the amendment
        of
        outstanding Options to reduce the exercise price thereof.

      

      4.    Shares
        Subject to Plan.

      

      4.1    Maximum
        Number of Shares Issuable.
        Subject
        to adjustment as provided in Section 4.2, the maximum aggregate number of
        shares
        of Stock that may be issued under the Plan shall be 3,250,000, reduced at
        any
        time by the sum of (a) the number of shares subject to options granted pursuant
        to the Predecessor Plan which remain outstanding at such time and (b) the
        number
        of shares issued prior to such time and after the Effective Date of this
        Plan
        upon the exercise of options granted pursuant to the Predecessor Plan. Such
        shares shall consist of authorized but unissued or reacquired shares of Stock
        or
        any combination thereof. If an outstanding Award for any reason expires or
        is
        terminated or canceled without having been exercised or settled in full,
        or if
        shares of Stock acquired pursuant to an Award subject to forfeiture or
        repurchase are forfeited, the shares of Stock allocable to the terminated
        portion of such Award or such forfeited or repurchased shares of Stock shall
        again be available for issuance under the Plan.

       

      
        4.2    Adjustments
          for Changes in Capital Structure.
          In the
          event of any change in the Stock through merger, consolidation, reorganization,
          reincorporation, recapitalization, reclassification, stock dividend, stock
          split, reverse stock split, split-up, split-off, spin-off, combination
          of
          shares, exchange of shares or similar change in the capital structure of
          the
          Company, or in the event of payment of a dividend or distribution to the
          stockholders of the Company in a form other than Stock (excepting normal
          cash
          dividends) that has a material effect on the Fair Market Value of shares
          of
          Stock, appropriate adjustments shall be made in the number and class of
          shares
          subject to the Plan, in the ISO Share Limit set forth in Section 5.3(b),
          the
          Award limits set forth in Section 5.4 and to any outstanding Awards, and
          in the
          exercise or purchase price per share under any outstanding Award.
          Notwithstanding the foregoing, any fractional share resulting from an adjustment
          pursuant to this Section 4.2 shall be rounded down to the nearest whole
          number,
          and in no event may the exercise or purchase price under any Award be decreased
          to an amount less than the par value, if any, of the stock subject to such
          Award. The adjustments determined by the Committee pursuant to this Section
          4.2
          shall be final, binding and conclusive.

      

      

      5.    Eligibility
        and Award Limitations.

      

      5.1    Persons
        Eligible for Awards.
        Awards
        may be granted only to Employees of the Company.

      
        
          
          

        

        
          3

          
            

          

        

        
          
          

        

      

      

      5.2    Participation.
        Awards
        are granted solely at the discretion of the Committee. Eligible persons may
        be
        granted more than one (1) Award. However, eligibility in accordance with
        this
        Section shall not entitle any person to be granted an Award, or, having been
        granted an Award, to be granted an additional Award.

      

      5.3    Incentive
        Stock Option Limitations.

      

      (a)    Persons
        Eligible.
        An
        Incentive Stock Option may be granted only to a person who, on the effective
        date of grant, is an Employee of the Company.

      

      (b)    ISO
        Share Limit.
        Subject
        to adjustment as provided in Section 4.2, in no event shall more than 3,250,000
        shares of Stock be available for issuance pursuant to the exercise of Incentive
        Stock Options granted under the Plan or the Predecessor Plan (the "ISO
        Share Limit").

      

      (c)    Fair
        Market Value Limitation.
        To the
        extent that options designated as Incentive Stock Options (granted under
        all
        stock option plans of the Company, including the Plan) become exercisable
        by a
        Participant for the first time during any calendar year for stock having
        a Fair
        Market Value greater than $100,000, the portion of such options which exceeds
        such amount shall be treated as Nonstatutory Stock Options. For purposes
        of this
        Section 5.3(c), options designated as Incentive Stock Options shall be taken
        into account in the order in which they were granted, and the Fair Market
        Value
        of stock shall be determined as of the time the option with respect to such
        stock is granted. If the Code is amended to provide for a different limitation
        from that set forth in this Section 5.3(c), such different limitation shall
        be
        deemed incorporated herein effective as of the date and with respect to such
        Options as required or permitted by such amendment to the Code. If an Option
        is
        treated as an Incentive Stock Option in part and as a Nonstatutory Stock
        Option
        in part by reason of the limitation set forth in this Section 5.3(c), the
        Participant may designate which portion of such Option the Participant is
        exercising. In the absence of such designation, the Participant shall be
        deemed
        to have exercised the Incentive Stock Option portion of the Option first.
        Upon
        exercise, each portion shall be separately identified.

      

      5.4    Award
        Limits.

      

      (a)    Aggregate
        Limit on Stock Bonus Awards.
        Subject
        to adjustment as provided in Section 4.2, in no event shall more than one
        million (1,000,000) shares in the aggregate be issued under the Plan pursuant
        to
        the exercise or settlement of Stock Bonus Awards.

      

      (b)    Section
        162(m) Award Limits.
        The
        following limits shall apply to the grant of any Award if, at the time of
        grant,
        the Company is a "publicly held corporation" within the meaning of Section
        162(m) of the Code (“Section
        162(m)”).

      

      (i)    Options.
        Subject
        to adjustment as provided in Section 4.2, no Employee shall be granted within
        any fiscal year of the Company one or more Options which in the aggregate
        are
        for more than two million (2,000,000) shares of Stock.

      

      (ii)    Stock
        Bonuses.
        Subject
        to adjustment as provided in Section 4.2, no Employee shall be granted within
        any fiscal year of the Company one or more Stock Bonuses, subject to Vesting
        Conditions based on the attainment of Performance Goals, for more than one
        hundred thousand (100,000) shares of Stock.

      

      6.    Terms
        and Conditions of Options.
        Options
        shall be evidenced by Award Agreements specifying the number of shares of
        Stock
        covered thereby, in such form as the Committee shall from time to time
        establish. No Option shall be a valid and binding obligation of the Company
        unless evidenced by a fully executed Award Agreement. Award Agreements
        evidencing Options may incorporate all or any of the terms of the Plan by
        reference and shall comply with and be subject to the following terms and
        conditions:

      

      6.1    Exercise
        Price.
        The
        exercise price for each Option shall be established in the discretion of
        the
        Committee; provided, however, that (a) the exercise price per share shall
        be not
        less than the Fair Market Value of a share of Stock on the effective date
        of
        grant of the Option and (b) no Incentive Stock Option granted to a Ten Percent
        Owner shall have an exercise price per share less than one hundred ten percent
        (110%) of the Fair Market Value of a share of Stock on the effective date
        of
        grant of the Option.

      

      6.2    Exercisability
        and Term of Options.
        Options
        shall be exercisable at such time or times, or upon such event or events,
        and
        subject to such terms, conditions, performance criteria and restrictions
        as
        shall be determined by the Committee and set forth in the Award Agreement
        evidencing such Option; provided, however, that (a) no Option shall be
        exercisable after the expiration of eight (8) years after the effective date
        of
        grant of such Option and (b) no Incentive Stock Option granted to a Ten Percent
        Owner shall be exercisable after the expiration of five (5) years after the
        effective date of grant of such Option. Subject to the foregoing, unless
        otherwise specified by the Committee in the grant of an Option, any Option
        granted hereunder shall terminate eight (8) years after the effective date
        of
        grant of the Option, unless earlier terminated in accordance with its
        provisions.

       

      
        
          
          

        

        
          4

          
            

          

        

        
          
          

        

      

       

      6.3    Payment
        of Exercise Price.

      

      (a)    Forms
        of Consideration Authorized.
        Except
        as otherwise provided below, payment of the exercise price for the number
        of
        shares of Stock being purchased pursuant to any Option shall be made (i)
        in
        cash, by check or cash equivalent, (ii) by tender to the Company of shares
        of
        Stock owned by the Participant having a Fair Market Value not less than the
        exercise price; (iii) by tender to the Company of a written consent to accept
        a
        reduction in the number of shares of Stock to which the Option relates
        (“Reduced
        Number of Shares”),
        which
        Reduced Number of Shares, when ascribed a value, shall be equal to the exercise
        price of the balance of shares of Stock covered by the Option; (iv) by delivery
        of a properly executed notice of exercise together with irrevocable instructions
        to a broker providing for the assignment to the Company of the proceeds of
        a
        sale or loan with respect to some or all of the shares being acquired upon
        the
        exercise of the Option (including, without limitation, through an exercise
        complying with the provisions of Regulation T as promulgated from time to
        time
        by the Board of Governors of the Federal Reserve System) (a "Cashless
        Exercise"),
        (v) by
        such other consideration as may be approved by the Committee from time to
        time
        to the extent permitted by applicable law, or (vi) by any combination
        thereof.

      

      (b)    Limitation
        on Form of Consideration.
        The
        Company reserves, at any and all times, the right, in the Company's sole
        and
        absolute discretion, to establish, decline to approve or terminate any program
        or procedures for the exercise of Options by means of a Cashless
        Exercise.

      

      6.4    Effect
        of Termination of Service.
        An
        Option shall be exercisable after a Participant's termination of Service
        to such
        extent and during such period as determined by the Committee, in its discretion,
        and set forth in the Award Agreement evidencing such Option.

      

      6.5    Transferability
        of Options.
        During
        the lifetime of the Participant, an Option shall be exercisable only by the
        Participant or the Participant's guardian or legal representative. No Option
        shall be assignable or transferable by the Participant, except by will or
        by the
        laws of descent and distribution. Notwithstanding the foregoing, to the extent
        permitted by the Committee, in its discretion, and set forth in the Award
        Agreement evidencing such Option, an Option shall be assignable or transferable
        subject to the applicable limitations, if any, described in the General
        Instructions to Form S-8 Registration Statement under the Securities Act
        of
        1933, as amended (“Act”).

      

      7.    Terms
        and Conditions of Stock Bonuses. 
        

       

      Stock
        Bonuses shall be evidenced by Award Agreements specifying the number of shares
        of Stock subject to the Award, in such form as the Committee shall from time
        to
        time establish. No Stock Bonus shall be a valid and binding obligation of
        the
        Company unless evidenced by a fully executed Award Agreement. Award Agreements
        evidencing Stock Bonuses may incorporate all or any of the terms of the Plan
        by
        reference and shall comply with and be subject to the following terms and
        conditions:

      

      7.1    Grant.
        Stock
        Bonuses may be granted upon such conditions as the Committee shall determine,
        including, without limitation, upon the attainment of one or more Performance
        Goals. If either the grant of a Stock Bonus or the lapsing of the Restriction
        Period is to be contingent upon the attainment of one or more Performance
        Goals,
        the Committee shall use the following procedures:

      

      (a)    Establishment
        of Performance Period, Performance Goals and Stock Bonus
        Formula.
        In
        granting each Stock Bonus, the Committee shall establish in writing the
        applicable Performance Period, Stock Bonus Formula and one or more Performance
        Goals which, when measured at the end of the Performance Period, shall determine
        on the basis of the Stock Bonus Formula the final value of the Stock Bonus
        to be
        paid to the Participant. Unless otherwise permitted in compliance with the
        requirements under Section 162(m) with respect to "performance-based
        compensation," the Committee shall establish the Performance Goal(s) and
        Stock
        Bonus Formula applicable to each Stock Bonus no later than the earlier of
        (a)
        the date ninety (90) days after the commencement of the applicable Performance
        Period or (b) the date on which 25% of the Performance Period has elapsed,
        and,
        in any event, at a time when the outcome of the Performance Goals remains
        substantially uncertain. Once established, the Performance Goals and Stock
        Bonus
        Formula shall not be changed during the Performance Period. The Company shall
        notify each Participant granted a Stock Bonus of the terms of such Award,
        including the Performance Period, Performance Goal(s) and Stock Bonus
        Formula.

      

      (b)    Measurement
        of Performance Goals.
        Performance Goals shall be established by the Committee on the basis of targets
        to be attained ("Performance
        Targets")
        with
        respect to one or more measures of business or financial performance (each,
        a
"Performance
        Measure").

       

      
        
          
          

        

        
          5

          
            

          

        

        
          
          

        

      

       

      (i)    Performance
        Measure.
        Performance Measures shall have the same meanings as used in the Company's
        financial statements, or, if such terms are not used in the Company's financial
        statements, they shall have the meaning applied pursuant to generally accepted
        accounting principles, or as used generally in the Company's industry.
        Performance Measures shall be calculated with respect to the Company and
        each
        subsidiary consolidated therewith for financial reporting purposes or such
        division as may be selected by the Committee. For purposes of the Plan, the
        Performance Measures applicable to a Stock Bonus shall be calculated in
        accordance with generally accepted accounting principles, but prior to the
        accrual or payment of any Stock Bonus for the same Performance Period and
        excluding the effect (whether positive or negative) of any change in accounting
        standards or any extraordinary, unusual or nonrecurring item, as determined
        by
        the Committee, occurring after the establishment of the Performance Goals
        applicable to the Stock Bonus. Performance Measures may be one or more of
        the
        following, as determined by the Committee: (a) growth in revenue; (b) operating
        margin; (c) gross margin; (d) operating income; (e) pre-tax profit; (f) earnings
        before interest, taxes and depreciation; (g) net income; (h) earnings per
        share;
        (i) return on stockholder equity; (j) return on net assets; (k) expenses;
        (l)
        return on capital; (m) market share; and (n) cash flow, as indicated by book
        earnings before interest, taxes, depreciation and amortization.

      

      (ii)    Performance
        Targets.
        Performance Targets may include a minimum, maximum, target level and
        intermediate levels of performance, with the final value of a Stock Bonus
        determined under the applicable Stock Bonus Formula by the level attained
        during
        the applicable Performance Period. A Performance Target may be stated as
        an
        absolute value or as a value determined relative to a standard selected by
        the
        Committee.

      

      7.2    Purchase
        Price.
        No
        monetary payment (other than applicable tax withholding) shall be required
        as a
        condition of receiving shares of Stock pursuant to a Stock Bonus, the
        consideration for which shall be services actually rendered to the Company
        or
        for its benefit. Notwithstanding the foregoing, the Participant shall furnish
        consideration in the form of cash or past services rendered to the Company
        or
        for its benefit having a value not less than the par value of the shares
        of
        Stock subject to such Stock Bonus Award.

      

      7.3    Vesting
        and Restrictions on Transfer.
        Shares
        issued pursuant to any Stock Bonus may or may not be made subject to vesting
        conditioned upon the satisfaction of such Service requirements, conditions,
        restrictions or performance criteria, including, without limitation, Performance
        Goals as described in section 7.1(b) (the "Vesting
        Conditions"),
        as
        shall be established by the Committee and set forth in the Award Agreement
        evidencing such Award. During any period (the "Restriction
        Period")
        in
        which shares acquired pursuant to a Stock Bonus remain subject to Vesting
        Conditions, such shares may not be sold, exchanged, transferred, pledged,
        assigned or otherwise disposed of other than pursuant to an Ownership Change
        Event, as defined in Section 9.1, or as provided in Section 7.7. Upon request
        by
        the Company, each Participant shall execute any agreement evidencing such
        transfer restrictions prior to the receipt of shares of Stock hereunder and
        shall promptly present to the Company any and all certificates representing
        shares of Stock acquired hereunder for the placement on such certificates
        of
        appropriate legends evidencing any such transfer restrictions.

      

      7.4    Settlement
        of Stock Bonus.

      

      (a)    Determination
        of Final Value.
        As soon
        as practicable following the completion of the Performance Period applicable
        to
        a Stock Bonus, the Committee shall certify in writing the extent to which
        the
        applicable Performance Goals have been attained and the resulting final value
        of
        the Award earned by the Participant and to be paid upon its settlement in
        accordance with the applicable Stock Bonus Formula.

      

      (b)    Effect
        of Leaves of Absence.
        Unless
        otherwise required by law, payment of the final value, if any, of a Stock
        Bonus
        held by a Participant who has taken in excess of thirty (30) days of leaves
        of
        absence during a Performance Period shall be prorated on the basis of the
        number
        of days of the Participant's Service during the Performance Period during
        which
        the Participant was not on a leave of absence.

      

      (c)    Notice
        to Participants.
        As soon
        as practicable following the Committee's determination and certification
        in
        accordance with Sections 9.5(a) and (b), the Company shall notify each
        Participant of the determination of the Committee.

      

      (d)    Payment
        in Settlement of Stock Bonus.
        As soon
        as practicable following the Committee's determination and certification
        in
        accordance with Section 7.4(a), payment shall be made to each eligible
        Participant (or such Participant's legal representative or other person who
        acquired the right to receive such payment by reason of the Participant's
        death)
        of the final value of the Participant's Stock Bonus. Payment of such amount
        shall be made in shares of Stock. The number of such shares shall be determined
        by dividing the final value of the Stock Bonus by the value of a share of
        Stock
        determined by the method specified in the Award Agreement. Such methods may
        include, without limitation, the closing market price on a specified date
        (such
        as the settlement date) or an average of market prices over a series of trading
        days. Shares of Stock issued in payment of any Stock Bonus may be fully vested
        and freely transferable shares or may be shares of Stock subject to Vesting
        Conditions as provided in Section 7.2. Any shares subject to Vesting Conditions
        shall be evidenced by an appropriate Award Agreement and shall be subject
        to the
        provisions of Sections 7.3 through 7.7.

      
        
          
          

        

        
          6

          
            

          

        

        
          
          

        

      

      

      7.5    Voting
        Rights; Dividends and Distributions.
        Except
        as provided in this Section, Section 7.3 and any Award Agreement, during
        the
        Restriction Period applicable to shares subject to a Stock Bonus, the
        Participant shall have all of the rights of a stockholder of the Company
        holding
        shares of Stock, including the right to vote such shares and to receive all
        dividends and other distributions paid with respect to such shares. However,
        in
        the event of a dividend or distribution paid in shares of Stock or any other
        adjustment made upon a change in the capital structure of the Company as
        described in Section 4.2, then any and all new, substituted or additional
        securities or other property (other than normal cash dividends) to which
        the
        Participant is entitled by reason of the Participant's Stock Bonus shall
        be
        immediately subject to the same Vesting Conditions as the shares subject
        to the
        Stock Bonus with respect to which such dividends or distributions were paid
        or
        adjustments were made.

      

      7.6    Effect
        of Termination of Service.
        Unless
        otherwise provided by the Committee in the grant of a Stock Bonus and set
        forth
        in the Award Agreement, if a Participant's Service terminates for any reason,
        whether voluntary or involuntary (including the Participant's death or
        disability), then the Participant shall forfeit to the Company any shares
        acquired by the Participant pursuant to a Stock Bonus which remain subject
        to
        Vesting Conditions as of the date of the Participant's termination of
        Service.

      

      7.7    Nontransferability
        of Stock Bonus Rights.
        Rights
        to acquire shares of Stock pursuant to a Stock Bonus may not be subject in
        any
        manner to anticipation, alienation, sale, exchange, transfer, assignment,
        pledge, encumbrance or garnishment by creditors of the Participant or the
        Participant's beneficiary, except by will or the laws of descent and
        distribution, and, during the lifetime of the Participant, shall be exercisable
        only by the Participant or the Participant's guardian or legal
        representative.

       

      7.8    Dividend
        Equivalents.
        In its
        discretion, the Committee may provide in the Award Agreement evidencing any
        Stock Bonus that the Participant shall be entitled to receive Dividend
        Equivalents with respect to the payment of cash dividends on Stock having
        a
        record date prior to the date on which the Stock Bonus Shares are settled
        or
        forfeited. Dividend Equivalents may be paid currently or may be accumulated
        and
        paid to the extent that Performance Shares become nonforfeitable, as determined
        by the Committee. Settlement of Dividend Equivalents may be made in cash,
        shares
        of Stock, or a combination thereof as determined by the Committee, and may
        be
        paid on the same basis as settlement of the related Stock Bonus Share as
        provided in Section 7.4.

      

      8.    Standard
        Forms of Award Agreement.

      

      8.1    Award
        Agreements.
        Each
        Award shall comply with and be subject to the terms and conditions set forth
        in
        the appropriate form of Award Agreement approved by the Committee and as
        amended
        from time to time. Any Award Agreement may consist of an appropriate form
        of
        Notice of Grant and a form of Agreement incorporated therein by reference,
        or
        such other form or forms as the Committee may approve from time to
        time.

      

      8.2    Authority
        to Vary Terms.
        The
        Committee shall have the authority from time to time to vary the terms of
        any
        standard form of Award Agreement either in connection with the grant or
        amendment of an individual Award or in connection with the authorization
        of a
        new standard form or forms; provided, however, that the terms and conditions
        of
        any such new, revised or amended standard form or forms of Award Agreement
        are
        not inconsistent with the terms of the Plan.

      

      9.    Change
        in Control.

      

      9.1    Definition.
        "Change
        in Control" means an Ownership Change Event or series of related Ownership
        Change Events (collectively, a "Transaction")
        in
        which the stockholders of the Company immediately before the Transaction
        do not
        retain immediately after the Transaction, direct or indirect beneficial
        ownership of more than fifty percent (50%) of the total combined voting power
        of
        the outstanding voting securities of the Company or, in the case of an Ownership
        Change Event, the entity to which the assets of the Company were transferred.
        An
"Ownership
        Change Event"
        shall be
        deemed to have occurred if any of the following occurs with respect to the
        Company: (i) the direct or indirect sale or exchange by the stockholders
        of the
        Company of all or substantially all of the voting stock of the Company; (ii)
        a
        merger or consolidation in which the Company is a party; (iii) the sale,
        exchange, or transfer of all or substantially all of the assets of the Company
        (other than a sale, exchange or transfer to one or more subsidiaries of the
        Company); or (iv) a liquidation or dissolution of the Company. The sole
        exception to Change in Control and Ownership Change Event as described above
        shall be any Change in Control or Ownership Change Event that may result
        from
        the death or incapacity of Richard J. Kurtz wherein his interest is transferred
        to his heirs only. In such event for the purposes hereof, no Change in Control
        or Ownership Change Event shall be deemed to have occurred. 

       

      
        
          
          

        

        
          7

          
            

          

        

        
          
          

        

      

       

      9.2    Effect
        of Change in Control on Options.
        In the
        event of a Change in Control, the surviving, continuing, successor, or
        purchasing entity or parent thereof, as the case may be (the "Acquiror"),
        may,
        without the consent of any Participant, either assume the Company's rights
        and
        obligations under outstanding Options or substitute for outstanding Options
        substantially equivalent options for the Acquiror's stock. In the event the
        Acquiror elects not to assume or substitute for outstanding Options in
        connection with a Change in Control, the Committee shall provide that any
        unexercised and/or unvested portions of outstanding Options shall be immediately
        exercisable and vested in full as of the date thirty (30) days prior to the
        date
        of the Change in Control. The exercise and/or vesting of any Option that
        was
        permissible solely by reason of this Section 9.2 shall be conditioned upon
        the
        consummation of the Change in Control. Any Options which are not assumed
        by the
        Acquiror in connection with the Change in Control nor exercised as of the
        time
        of consummation of the Change in Control shall terminate and cease to be
        outstanding effective as of the time of consummation of the Change in
        Control.

      

      9.3    Effect
        of Change in Control on Stock Bonuses.
        The
        Committee may, in its discretion, provide in any Award Agreement evidencing
        a
        Stock Bonus that, in the event of a Change in Control, the lapsing of the
        Restriction Period applicable to the shares subject to the Stock Bonus held
        by a
        Participant whose Service has not terminated prior to such date shall be
        accelerated effective as of the date of the Change in Control to such extent
        as
        specified in such Award Agreement. Any acceleration of the lapsing of the
        Restriction Period that was permissible solely by reason of this Section
        9.3 and
        the provisions of such Award Agreement shall be conditioned upon the
        consummation of the Change in Control.

      

      10.   Compliance
        with Securities Law. 
        

       

      The
        grant
        of Awards and the issuance of shares of Stock pursuant to any Award shall
        be
        subject to compliance with all applicable requirements of federal, state
        and
        foreign law with respect to such securities and the requirements of any stock
        exchange or market system upon which the Stock may then be listed. In addition,
        no Award may be exercised or shares issued pursuant to an Award unless (i)
        a
        registration statement under the Act shall at the time of such exercise or
        issuance be in effect with respect to the shares issuable pursuant to the
        Award
        or (ii) in the opinion of legal counsel to the Company, the shares issuable
        pursuant to the Award may be issued in accordance with the terms of an
        applicable exemption from the registration requirements of the Act. The
        inability of the Company to obtain from any regulatory body having jurisdiction
        the authority, if any, deemed by the Company's legal 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. As a condition
        to
        issuance of any Stock, the Company may require the Participant to satisfy
        any
        qualifications that may be necessary or appropriate, to evidence compliance
        with
        any applicable law or regulation and to make any representation or warranty
        with
        respect thereto as may be requested by the Company.

      

      11.   Tax
        Withholding.

      

      11.1  Tax
        Withholding in General.
        The
        Company shall have the right to deduct from any and all payments made under
        the
        Plan, or to require the Participant, through payroll withholding, cash payment
        or otherwise, including by means of a Cashless Exercise of an Option, to
        make
        adequate provision for, the federal, state, local and foreign taxes, if any,
        required by law to be withheld by the Company with respect to an Award or
        the
        shares acquired pursuant thereto. The Company shall have no obligation to
        deliver shares of Stock, to release shares of Stock from an escrow established
        pursuant to an Award Agreement, or to make any payment in cash under the
        Plan
        until the tax withholding obligations have been satisfied by the
        Participant.

      

      11.2  Withholding
        in Shares.
        The
        Company shall have the right, but not the obligation, to deduct from the
        shares
        of Stock issuable to a Participant upon the exercise or settlement of an
        Award,
        or to accept from the Participant the tender of, a number of whole shares
        of
        Stock having a Fair Market Value, as determined by the Company, equal to
        all or
        any part of the tax withholding obligations of Company. The Fair Market Value
        of
        any shares of Stock withheld or tendered to satisfy any such tax withholding
        obligations shall not exceed the amount determined by the applicable minimum
        statutory withholding rates.

      

      12.   Termination
        or Amendment of Plan. 
        

       

      The
        Committee may terminate or amend the Plan at any time. However, without the
        approval of the Company's stockholders, there shall be (a) no increase in
        the
        maximum aggregate number of shares of Stock that may be issued under the
        Plan
        (except by operation of the provisions of Section 4.2), (b) no change in
        the
        class of persons eligible to receive Incentive Stock Options, and (c) no
        other
        amendment of the Plan that would require approval of the Company's stockholders
        under any applicable law, regulation or rule. No termination or amendment
        of the
        Plan shall affect any then outstanding Award unless expressly provided by
        the
        Committee. In any event, no termination or amendment of the Plan may adversely
        affect any then outstanding Award without the consent of the Participant,
        unless
        such termination or amendment is necessary to comply with any applicable
        law,
        regulation or rule.

       

      
        
          
          

        

        
          8

          
            

          

        

        
          
          

        

      

       

      13.   Miscellaneous
        Provisions.

      

      13.1  Provision
        of Information.
        Each
        Participant shall be given access to information concerning the Company
        equivalent to that information generally made available to the Company's
        common
        stockholders.

      

      13.2  Rights
        as Employee.
        No
        person, even though eligible pursuant to Section 5, shall have a right to
        be
        selected as a Participant, or, having been so selected, to be selected again
        as
        a Participant. Nothing in the Plan or any Award granted under the Plan shall
        confer on any Participant a right to remain an Employee, or interfere with
        or
        limit in any way any right of the Company to terminate the Participant's
        Service
        at any time. To the extent that an Employee of a subsidiary of IFT Corporation
        receives an Award under the Plan, that Award can in no event be understood
        or
        interpreted to mean that IFT Corporation is the Employee's employer or that
        the
        Employee has an employment relationship with IFT Corporation.

      

      13.3  Rights
        as a Stockholder.
        A
        Participant shall have no rights as a stockholder with respect to any shares
        covered by an Award until the date of the issuance of such shares (as evidenced
        by the appropriate entry on the books of the Company or of a duly authorized
        transfer agent of the Company). No adjustment shall be made for dividends,
        distributions or other rights for which the record date is prior to the date
        such shares are issued, except as provided in Section 4.2 or another provision
        of the Plan.

      

      13.4  Fractional
        Shares.
        The
        Company shall not be required to issue fractional shares upon the exercise
        or
        settlement of any Award.

      

      13.5  Beneficiary
        Designation.
        Subject
        to local laws and procedures, each Participant may file with the Company
        a
        written designation of a beneficiary who is to receive any benefit under
        the
        Plan to which the Participant is entitled in the event of such Participant's
        death before he or she receives any or all of such benefit. Each designation
        will revoke all prior designations by the same Participant and will be effective
        only when filed by the Participant in writing with the Company during the
        Participant's lifetime. If a married Participant designates a beneficiary
        other
        than the Participant's spouse, the effectiveness of such designation may
        be
        subject to the consent of the Participant's spouse. If a Participant dies
        without an effective designation of a beneficiary who is living at the time
        of
        the Participant's death, the Company will pay any remaining unpaid benefits
        to
        the Participant's legal representative.

      

      13.6  Unfunded
        Obligation.
        Participants shall have the status of general unsecured creditors of the
        Company. Any amounts payable to Participants pursuant to the Plan shall be
        unfunded and unsecured obligations for all purposes, including, without
        limitation, Title I of the Employee Retirement Income Security Act of 1974.
        The
        Company shall not be required to segregate any monies from its general funds,
        or
        to create any trusts, or establish any special accounts with respect to such
        obligations.

      

      IN
        WITNESS WHEREOF, the undersigned Secretary of the Company certifies that
        the
        foregoing sets forth the IFT Corporation Equity Incentive Plan as duly adopted
        by the Board on July 12, 2005.

      

       

      
        	 	
                /s/
                  Sharmeen Hugue, Secretary

              
	 	
                Secretary

              

      

       

      
        
          
          

        

        
          9

          
            

          

        

        
          
          

        

      

       

      
        Exhibit
          A

        

        OPTION
          AGREEMENT

        

        THE
          BOARD
          OF DIRECTORS of IFT Corporation authorized and approved the Equity Incentive
          Plan ("Plan"). The Plan provides for the grant of Options to employees
          of IFT
          Corporation and its subsidiaries (“Company”). Unless otherwise provided herein
          all defined terms shall have the respective meanings ascribed to them under
          the
          Plan.

        

        1.    Grant
          of Option.
          Pursuant to authority granted to it under the Plan, the Administrator
          responsible for administering the Plan hereby grants to _______________,
          as an
          employee of the Company (“Optionee”) and as of ________ ___, ________ ("Grant
          Date"), the following Option: ___________. Each Option permits you to purchase
          one share of IFT Corporation’s common stock, $.01 par value per share
          ("Shares").

        

        2.    Character
          of Options.
          Pursuant to the Plan, Options granted herein may be Incentive Stock Options
          or
          Non-Qualified Stock Options, or both. To the extent permitted under the
          Plan and
          by law, such Options shall first be considered Incentive Stock
          Options.

        

        3.    Exercise
          Price.
          The
          Exercise Price for each Non-Qualified Stock Option granted herein is $
          __________ per Share, and the exercise price for each Incentive Stock Option
          granted herein shall be $ _______ per Share [except that an Incentive Stock
          Option granted to a Ten Percent Owner shall be $_______ per Share].

        

        4.    Exercisability.
          The
          exercisability of the Options granted hereby is subject to the following
          performance criteria and restrictions:
          _________________________________________________________________.

        

        5.    Term
          of Options.
          The
          term of each Option granted herein shall be for a term of up to ______
          (___)
          years from the Grant Date, provided, however, that the term of any Incentive
          Stock Option granted herein to an Optionee who is at the time of the grant,
          a
          Ten Percent Owner, shall not be exercisable after the expiration of five
          (5)
          years from the Grant Date.

        

        6.    Payment
          of Exercise Price.
          Options
          represented hereby may be exercised in whole or in part by delivering to
          the
          Company your payment of the Exercise Price of the Option so exercised (i)
          in
          cash, by check or cash equivalent, (ii) by tender to the Company of shares
          of
          Stock owned by the Participant having a Fair Market Value not less than
          the
          exercise price; (iii) by tender to the Company of a written consent to
          accept a
          reduction in the number of shares of Stock to which the Option relates
          (“Reduced
          Number of Shares”),
          which
          Reduced Number of Shares, when ascribed a value, shall be equal to the
          exercise
          price of the balance of shares of Stock covered by the Option; (iv) by
          delivery
          of a properly executed notice of exercise together with irrevocable instructions
          to a broker providing for the assignment to the Company of the proceeds
          of a
          sale or loan with respect to some or all of the shares being acquired upon
          the
          exercise of the Option (including, without limitation, through an exercise
          complying with the provisions of Regulation T as promulgated from time
          to time
          by the Board of Governors of the Federal Reserve System) (a "Cashless
          Exercise"),
          (v) by
          such other consideration as may be approved by the Committee from time
          to time
          to the extent permitted by applicable law, or (vi) by any combination thereof.
          The Company reserves, at any and all times, the right, in the Company's
          sole and
          absolute discretion, to establish, decline to approve or terminate any
          program
          or procedures for the exercise of Options by means of a Cashless
          Exercise.

        

        7.    Limits
          on Transfer of Options.
          The
          Option granted herein shall not be transferable by you otherwise than by
          will or
          by the laws of descent and distribution, except for gifts to family members
          subject to any specific limitation concerning such gift by the Administrator
          in
          its discretion; provided, however, that you may designate a beneficiary
          or
          beneficiaries to exercise your rights and receive any Shares purchased
          with
          respect to any Option upon your death. Each Option shall be exercisable
          during
          your lifetime only by you or, if permissible under applicable law, by your
          legal
          representative. No Option herein granted or Shares underlying any Option
          shall
          be pledged, alienated, attached or otherwise encumbered, and any purported
          pledge, alienation, attachment or encumbrance thereof shall be void and
          unenforceable against the Company. Notwithstanding the foregoing, to the
          extent
          permitted by the Administrator, in its discretion, an Option shall be assignable
          or transferable subject to the applicable limitations, if any, described
          in the
          General Instructions to Form S-8 Registration Statement under the Securities
          Act
          of 1933, as amended.

        

        8.    Termination
          of Employment.
          If your
          employment is terminated with the Company, the Option and any unexercised
          portion shall be subject to the provisions below:

        
          
            
            

          

          
            10

            
              

            

          

          
            
            

          

        

        

        (a)    Upon
          the
          termination of your employment with the Company, to the extent not theretofore
          exercised, your Option shall continue to be valid; provided, however, that:
          (i)
          If the Participant shall die while in the employ of the Company or during
          the
          one (1) year period, whichever is applicable, specified in clause (ii)
          below and
          at a time when such Participant was entitled to exercise an Option as herein
          provided, the legal representative of such Participant, or such Person
          who
          acquired such Option by bequest or inheritance or by reason of the death
          of the
          Participant, may, not later than fifteen (15) months from the date of death,
          exercise such Option, to the extent not theretofore exercised, in respect
          of any
          or all of such number of Shares specified by the Administrator in such
          Option;
          and (ii) If the employment of any Participant to whom such Option shall
          have
          been granted shall terminate by reason of the Participant's retirement
          (at such
          age upon such conditions as shall be specified by the Board of Directors),
          disability (as described in Section 22(e) of the Code) or dismissal by
          the
          Company other than for cause (as defined below), and while such Participant
          is
          entitled to exercise such Option as herein provided, such Participant shall
          have
          the right to exercise such Option so granted, to the extent not theretofore
          exercised, in respect of any or all of such number of Shares as specified
          by the
          Administrator in such Option, at any time up to one (1) year from the date
          of
          termination of the Optionee's employment by reason of retirement or dismissal
          other than for cause or disability, provided, that if the Optionee dies
          within
          such twelve (12) month period, subclause (i) above shall apply.

        

        (b)    If
          you
          voluntarily terminate your employment, or are discharged for cause, any
          Options
          granted hereunder shall forthwith terminate with respect to any unexercised
          portion thereof.

        

        (c)    If
          any
          Options granted hereunder shall be exercised by your legal representative
          if you
          should die or become disabled, or by any person who acquired any Options
          granted
          hereunder by bequest or inheritance or by reason of death of any such person
          written notice of such exercise shall be accompanied by a certified copy
          of
          letters testamentary or equivalent proof of the right of such legal
          representative or other person to exercise such Options.

        

        (d)    For
          all
          purposes of the Plan, the term "for cause" shall mean "cause" as defined
          in the
          Plan or your employment agreement with the Company.

        

        9.    Restriction;
          Securities Exchange Listing.
          All
          certificates for shares delivered upon the exercise of Options granted
          herein
          shall be subject to such stop transfer orders and other restrictions as
          the
          Administrator may deem advisable under the Plan or the rules, regulations
          and
          other requirements of the Securities and Exchange Commission and any applicable
          federal or state securities laws, and the Administrator may cause a legend
          or
          legends to be placed on such certificates to make appropriate reference
          to such
          restrictions. If the Shares or other securities are traded on a national
          securities exchange, the Company shall not be required to deliver any Shares
          covered by an Option unless and until such Shares have been admitted for
          trading
          on such securities exchange.

        

        10.  
            Adjustments.
          If
          there is any change in the capitalization of the Company affecting in any
          manner
          the number or kind of outstanding shares of Common Stock of the Company,
          whether
          by stock dividend, stock split, reclassification or recapitalization of
          such
          stock, or because the Company has merged or consolidated with one or more
          other
          corporations (and provided the Option does not thereby terminate pursuant
          to
          Section 5 hereof), then the number and kind of shares then subject to the
          Option
          and the price to be paid therefor shall be appropriately adjusted by the
          Board
          of Directors; provided, however, that in no event shall any such adjustment
          result in the Company's being required to sell or issue any fractional
          shares.
          Any such adjustment shall be made without change in the aggregate purchase
          price
          applicable to the unexercised portion of the option, but with an appropriate
          adjustment to the price of each Share or other unit of security covered
          by this
          Option.

        

        11.
              Change
          in Control.
          In the
          event of a Change in Control (as defined in the Plan), the surviving,
          continuing, successor, or purchasing entity or parent thereof, as the case
          may
          be (the "Acquiror"),
          may,
          without the consent of any Participant, either assume the Company's rights
          and
          obligations under outstanding Options or substitute for outstanding Options
          substantially equivalent options for the Acquiror's stock. In the event
          the
          Acquiror elects not to assume or substitute for outstanding Options in
          connection with a Change in Control, the Committee shall provide that any
          unexercised and/or unvested portions of outstanding Options shall be immediately
          exercisable and vested in full as of the date thirty (30) days prior to
          the date
          of the Change in Control. The exercise and/or vesting of any Option that
          was
          permissible solely by reason of this Section 11 shall be conditioned upon
          the
          consummation of the Change in Control. Any Options which are not assumed
          by the
          Acquiror in connection with the Change in Control nor exercised as of the
          time
          of consummation of the Change in Control shall terminate and cease to be
          outstanding effective as of the time of consummation of the Change in
          Control.

        

        12. 
              Amendment
          to Options Herein Granted.
          The
          Options granted herein may not be amended without your consent.

        

        13. 
             Withholding
          Taxes.
          As
          provided in the Plan, the Company may withhold from sums due or to become
          due to
          Optionee from the Company an amount necessary to satisfy its obligation
          to
          withhold taxes incurred by reason of the disposition of the Shares acquired
          by
          exercise of the Options in a disqualifying disposition (within the meaning
          of
          Section 421(b) of the Code), or may require you to reimburse the Company
          in such
          amount.

        

        
          	
                  IFT
                    CORPORATION

                	 	 	 
	 	 	 	 
	 	 	 	 
	
                  Corporate
                    Secretary

                	 	
                  Date

                	 
	 	 	 	 
	
                  OPTIONEE

                	 	 	 
	
                   

                	 	 	 
	 	 	
                  Date

                	 

        

         

        11

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