Document:

Exhibit 10.2

 

 

2013 EQUITY INCENTIVE PLAN

OF

HEDGEBROOK

 

		1.	PURPOSES OF THE PLAN

 

The purposes of the 2013 Equity Incentive
Plan (the “Plan”) of Hedgebrook, a Nevada corporation (the “Company”), are to:

 

1.1Encourage selected employees,
directors, consultants and advisers to improve operations and increase the profitability of the Company;

 

1.2Encourage selected employees,
directors, consultants and advisers to accept or continue employment or association with the Company or its Affiliates; and

 

1.3Increase the interest of selected
employees, directors, consultants and advisers in the Company’s welfare through participation in the growth in value of the
common stock of the Company (the “Common Stock”). All references herein to stock or shares, unless otherwise specified,
shall mean Common Stock.

 

		2.	TYPES OF AWARDS; ELIGIBLE PERSONS

 

2.1The Administrator (as defined
below) may, from time to time, take the following action, separately or in combination, under the Plan: (i) grant “incentive
stock options” (“ISOs”) intended to satisfy the requirements of Section 422 of the Internal Revenue Code of 1986,
as amended, and the regulations thereunder (the “Code”); (ii) grant “non-qualified options” (“NQOs,”
and together with ISOs, “Options”); (iii) grant or sell Common Stock subject to restrictions (“restricted stock”)
and (iv) grant stock appreciation rights (any such right would permit the holder to receive the excess of the fair market value
of Common Stock on the exercise date over its fair market value (or a greater base value) on the grant date (“SARs”)),
either in tandem with Options or as separate and independent grants. Any such awards may be made to employees, including employees
who are officers or directors, and to individuals described in Section 1 of the Plan who the Administrator believes have made or
will make a contribution to the Company or any Affiliate (as defined below); provided, however, that only a person
who is an employee of the Company or any Affiliate at the date of the grant of an Option is eligible to receive ISOs under the
Plan. The term “Affiliate” as used in the Plan means a parent or subsidiary corporation as defined in the applicable
provisions (currently Sections 424(e) and (f), respectively) of the Code. The term “employee” includes an officer or
director who is an employee of the Company. The term “consultant” includes persons employed by, or otherwise affiliated
with, a consultant. The term “adviser” includes persons employed by, or otherwise affiliated with, an adviser.

 

2.2Except as otherwise expressly
set forth in the Plan, no right or benefit under the Plan shall be subject in any manner to anticipation, alienation, hypothecation,
or charge, and any such attempted action shall be void. No right or benefit under the Plan shall in any manner be liable for or
subject to debts, contracts, liabilities, or torts of any option holder or any other person except as otherwise may be expressly
required by applicable law.

 

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		3.	STOCK SUBJECT TO THE PLAN; MAXIMUM NUMBER OF GRANTS

 

Subject to the provisions of Sections 6.1.1
and 8.2 of the Plan, the total number of shares of Common Stock which may be offered, or issued as restricted stock or on the exercise
of Options or SARs under the Plan shall not exceed 4,000,000 shares of Common Stock. The shares subject to an Option or SAR granted
under the Plan which expire, terminate or are cancelled unexercised shall become available again for grants under the Plan. If
shares of restricted stock awarded under the Plan are forfeited to the Company or repurchased by the Company, the number of shares
forfeited or repurchased shall again be available under the Plan. Where the exercise price of an Option is paid by means of the
optionee’s surrender of previously owned shares of Common Stock or the Company’s withholding of shares otherwise issuable
upon exercise of the Option as may be permitted herein, only the net number of shares issued and which remain outstanding in connection
with such exercise shall be deemed “issued” and no longer available for issuance under the Plan. No eligible person
shall be granted Options or other awards during any twelve-month period covering more than 1,000,000 shares.

 

		4.	ADMINISTRATION

 

4.1The Plan shall be administered
by the Board of Directors of the Company (the “Board”) or by a committee (the “Committee”) to which administration
of the Plan, or of part of thereof, is delegated by the Board (in either case, the “Administrator”). The Board shall
appoint and remove members of the Committee in its discretion in accordance with applicable laws. At the Board’s discretion,
the Committee may be comprised solely of “non-employee directors” within the meaning of Rule 16b-3 under the Securities
Exchange Act of 1934, as amended (the “Exchange Act”), or “outside directors” within the meaning of Section
162(m) of the Code. The Administrator may delegate non-discretionary administrative duties to such employees of the Company as
the Administrator deems proper and the Board, in its absolute discretion, may at any time and from time to time exercise any and
all rights and duties of the Administrator under the Plan.

 

4.2Subject to the other provisions
of the Plan, the Administrator shall have the authority, in its discretion: (i) to grant Options and SARs and grant or sell restricted
stock; (ii) to determine the fair market value of the Common Stock subject to Options or other awards; (iii) to determine the exercise
price of Options granted, which shall be no less than the fair market value of the Common Stock on the date of grant, the economic
terms of SARs granted, which shall provide for a benefit of the appreciation on Common Stock over not less than the value of the
Common Stock on the date of grant, or the offering price of restricted stock; (iv) to determine the persons to whom, and the time
or times at which, Options or SARs shall be granted or restricted stock granted or sold, and the number of shares subject to each
Option or SAR or the number of shares of restricted stock granted or sold; (v) to construe and interpret the terms and provisions
of the Plan, of any applicable agreement and all Options and SARs granted under the Plan, and of any restricted stock award under
the Plan; (vi) to prescribe, amend, and rescind rules and regulations relating to the Plan; (vii) to determine the terms and provisions
of each Option and SAR granted and award of restricted stock (which need not be identical), including but not limited to, the time
or times at which Options and SARs shall be exercisable or the time at which the restrictions on restricted stock shall lapse;
(viii) with the consent of the grantee, to rescind any award or exercise of an Option or SAR and to modify or amend the terms of
any Option, SAR or restricted stock; (ix) to reduce the purchase price of restricted stock; (x) to accelerate or defer (with the
consent of the grantee) the exercise date of any Option or SAR or the date on which the restrictions on restricted stock lapse;
(xi) to issue shares of restricted stock to an optionee in connection with the accelerated exercise of an Option by such optionee;
(xii) to authorize any person to execute on behalf of the Company any instrument evidencing the grant of an Option. SAR or award
of restricted stock; (xiii) to determine the duration and purposes of leaves of absence which may be granted to participants without
constituting a termination of their employment for the purposes of the Plan; and (xiv) to make all other determinations deemed
necessary or advisable for the administration of the Plan, any applicable agreement, Option, SAR or award of restricted stock.

 

4.3All questions of interpretation,
implementation, and application of the Plan or any agreement or Option, SAR or award of restricted stock shall be determined by
the Administrator, which determination shall be final and binding on all persons.

 

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		5.	GRANTING OF OPTIONS AND SARS; AGREEMENTS

 

5.1No Options or SARs shall be
granted under the Plan after ten (10) years from the date of adoption of the Plan by the Board.

 

5.2Each Option and SAR shall
be evidenced by a written agreement, in form satisfactory to the Administrator, executed by the Company and the person to whom
such grant is made. In the event of a conflict between the terms or conditions of an agreement and the terms and conditions of
the Plan, the terms and conditions of the Plan shall govern.

 

5.3Each agreement shall specify
whether the Option it evidences is an NQO or an ISO, provided, however, all Options granted under the Plan to non-employee
directors, consultants and advisers of the Company are intended to be NQOs.

 

5.4Subject to Section 6.3.3 with
respect to ISOs, the Administrator may approve the grant of Options or SARs under the Plan to persons who are expected to become
employees, directors, consultants or advisers of the Company, but are not employees, directors, consultants or advisers at the
date of approval.

 

		6.	TERMS AND CONDITIONS OF OPTIONS AND SARS

 

Each Option and SAR granted under the Plan
shall be subject to the terms and conditions set forth in Section 6.1. NQOs and SARs shall also be subject to the terms and conditions
set forth in Section 6.2, but not those set forth in Section 6.3. ISOs shall also be subject to the terms and conditions set forth
in Section 6.3, but not those set forth in Section 6.2. SARs shall be subject to the terms and conditions of Section 6.4.

 

6.1Terms and Conditions to
Which All Options and SARs Are Subject. All Options and SARs granted under the Plan shall be subject to the following terms
and conditions:

 

6.1.1Changes in Capital Structure.
Subject to Section 6.1.2, if the Common Stock of the Company is changed by reason of a stock split, reverse stock split, stock
dividend, recapitalization, combination or reclassification, or if the Company effects a spin-off of the Company’s subsidiary,
appropriate adjustments shall be made by the Administrator, in its sole discretion, in (a) the number and class of shares of stock
subject to the Plan and each Option and SAR outstanding under the Plan, and (b) the exercise price of each outstanding Option;
provided, that the Company shall not be required to issue fractional shares as a result of any such adjustments. Any adjustment,
however, in an outstanding Option shall be made without change in the total price applicable to the unexercised portion of the
Option but with a corresponding adjustment in the price for each share covered by the unexercised portion of the Option. Adjustments
under this Section 6.1.1 shall be made by the Administrator, whose determination as to the nature of the adjustments that shall
be made, and the extent thereof, shall be final, binding, and conclusive. If an adjustment under this Section 6.1.1 would result
in a fractional share interest under an option or any installment, the Administrator’s decision as to inclusion or exclusion
of that fractional share interest shall be final, but no fractional shares of stock shall be issued under the Plan on account of
any such adjustment.

 

6.1.2Corporate Transactions.
Except as otherwise provided in the applicable agreement, in the event of a Corporate Transaction (as defined below), the Administrator
shall notify each holder of an Option or SAR at least thirty (30) days prior thereto or as soon as may be practicable. To the extent
not then exercised all Options and SARs shall terminate immediately prior to the consummation of such Corporate Transaction unless
the Administrator determines otherwise in its sole discretion; provided. however, that the Administrator, in its
sole discretion, may (i) permit exercise of any Options or SARs prior to their termination, even if such Options or SARs would
not otherwise have been exercisable, and/or (ii) provide that all or certain of the outstanding Options and SARs shall be assumed
or an equivalent Option or SAR substituted by an applicable successor corporation or entity or any Affiliate of the successor corporation
or entity. A “Corporate Transaction” means (i) a liquidation or dissolution of the Company; (ii) a merger or consolidation
of the Company with or into another corporation or entity (other than a merger with a wholly-owned subsidiary); (iii) a sale of
all or substantially all of the assets of the Company; or (iv) a purchase or other acquisition of more than 50% of the outstanding
stock of the Company by one person or by more than one person acting in concert.

 

6.1.3Time of Option or SAR Exercise.
Subject to Section 5 and Section 6.3.4, an Option or SAR granted under the Plan shall be exercisable (a) immediately as of the
effective date of the of the applicable agreement or (b) in accordance with a schedule or performance criteria as may be set by
the Administrator and specified in the applicable agreement. However, in no case may an Option or SAR be exercisable until a written
agreement in form and substance satisfactory to the Company is executed by the Company and the grantee.

 

6.1.4Grant Date. The date
of grant of an Option or SAR under the Plan shall be the date approved or specified by the Administrator and reflected as the effective
date of the applicable agreement.

 

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6.1.5Non-Transferability of
Rights. Except with the express written approval of the Administrator, which approval the Administrator is authorized to give
only with respect to NQOs and SARs, no Option or SAR granted under the Plan shall be assignable or otherwise transferable by the
grantee except by will or by the laws of descent and distribution. During the life of the grantee, an Option or SAR shall be exercisable
only by the grantee or permitted transferee.

 

6.1.6Payment. Except as
provided below, payment in full, in cash, shall be made for all Common Stock purchased at the time written notice of exercise of
an Option is given to the Company and the proceeds of any payment shall be considered general funds of the Company. The Administrator,
in the exercise of its absolute discretion after considering any tax, accounting and financial consequences, may authorize any
one or more of the following additional methods of payment:

 

(a)Subject to the Sarbanes-Oxley
Act of 2002, acceptance of the optionee’s full recourse promissory note for all or part of the Option price, payable on such
terms and bearing such interest rate as determined by the Administrator (but in no event less than the minimum interest rate specified
under the Code at which no additional interest or original issue discount would be imputed), which promissory note may be either
secured or unsecured in such manner as the Administrator shall approve (including, without limitation, by a security interest in
the shares of the Company);

 

(b)Subject to the discretion
of the Administrator and the terms of the stock option agreement granting the Option, delivery by the optionee of shares of Common
Stock already owned by the optionee for all or part of the Option price, provided the fair market value (determined as set forth
in Section 6.1.9) of such shares of Common Stock is equal on the date of exercise to the Option price, or such portion thereof
as the optionee is authorized to pay by delivery of such stock;

 

(c)Subject to the discretion
of the Administrator, through the surrender of shares of Common Stock then issuable upon exercise of the Option, provided the fair
market value (determined as set forth in Section 6.1.9) of such shares of Common Stock is equal on the date of exercise to the
Option price, or such portion thereof as the optionee is authorized to pay by surrender of such stock; and

 

(d)By means of so-called cashless
exercises as permitted under applicable rules and regulations of the Securities and Exchange Commission and the Federal Reserve
Board.

 

6.1.7Withholding and Employment
Taxes. At the time of exercise and as a condition thereto, or at such other time as the amount of such obligation becomes determinable,
the grantee of an Option or SAR shall remit to the Company in cash all applicable federal and state withholding and employment
taxes. Such obligation to remit may be satisfied, if authorized by the Administrator in its sole discretion, after considering
any tax, accounting and financial consequences, by the holder’s (i) delivery of a promissory note in the required amount
on such terms as the Administrator deems appropriate, (ii) tendering to the Company previously owned shares of Common Stock or
other securities of the Company with a fair market value equal to the required amount, or (iii) agreeing to have shares of Common
Stock (with a fair market value equal to the required amount), which are acquired upon exercise of the Option or SAR, withheld
by the Company.

 

6.1.8Other Provisions. Each
Option and SAR granted under the Plan may contain such other terms, provisions, and conditions not inconsistent with the Plan as
may be determined by the Administrator, and each ISO granted under the Plan shall include such provisions and conditions as are
necessary to qualify the Option as an “incentive stock option” within the meaning of Section 422 of the Code.

 

6.1.9Determination of Value.
For purposes of the Plan, the fair market value of Common Stock or other securities of the Company shall be determined as follows:

 

(a)If the stock of the Company
is listed on a securities exchange or is regularly quoted by a recognized securities dealer, and selling prices are reported, its
fair market value shall be the closing price of such stock on the date the value is to be determined, but if selling prices are
not reported, its fair market value shall be the mean between the high bid and low asked prices for such stock on the date the
value is to be determined (or if there are no quoted prices for the date of grant, then for the last preceding business day on
which there were quoted prices).

 

(b)In the absence of an established
market for the stock, the fair market value thereof shall be determined in good faith by the Administrator, with reference to the
Company’s net worth, prospective earning power, dividend-paying capacity, and other relevant factors, including the goodwill
of the Company, the economic outlook in the Company’s industry, the Company’s position in the industry, the Company’s
management, and the values of stock of other corporations in the same or a similar line of business.

 

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6.1.10Option and SAR Term.
No Option or SAR shall be exercisable more than 10 years after the date of grant, or such lesser period of time as is set forth
in the applicable agreement (the end of the maximum exercise period stated in the agreement is referred to in the Plan as the “Expiration
Date”).

 

6.2Terms and Conditions to
Which Only NQOs and SARs Are Subject. Options granted under the Plan which are designated as NQOs and SARs shall be subject
to the following terms and conditions:

 

6.2.1Exercise Price. The
exercise price of an NQO and the base value of an SAR shall be the amount determined by the Administrator as specified in the option
or SAR agreement, but shall not be less than the fair market value of the Common Stock on the date of grant (determined under Section
6.1.9).

 

6.2.2Termination of Employment.
Except as otherwise provided in the applicable agreement, if for any reason a grantee ceases to be employed by the Company or any
of its Affiliates, Options that are NQOs and SARs held at the date of termination (to the extent then exercisable) may be exercised
in whole or in part at any time within ninety (90) days of the date of such termination (but in no event after the Expiration Date).
For purposes of this Section 6.2.2, “employment” includes service as a director, consultant or adviser. For purposes
of this Section 6.2.2, a grantee’s employment shall not be deemed to terminate by reason of the grantee’s transfer
from the Company to an Affiliate, or vice versa, or sick leave, military leave or other leave of absence approved by the Administrator,
if the period of any such leave does not exceed ninety (90) days or, if longer, if the grantee’s right to reemployment by
the Company or any Affiliate is guaranteed either contractually or by statute.

 

6.3Terms and Conditions to
Which Only ISOs Are Subject. Options granted under the Plan which are designated as ISOs shall be subject to the following
terms and conditions:

 

6.3.1Exercise Price. The
exercise price of an ISO shall not be less than the fair market value (determined in accordance with Section 6.1.9) of the stock
covered by the Option at the time the Option is granted. The exercise price of an ISO granted to any person who owns, directly
or by attribution under the Code (currently Section 424(d)), stock possessing more than ten percent (10%) of the total combined
voting power of all classes of stock of the Company or of any Affiliate (a “Ten Percent Stockholder”) shall in no event
be less than one hundred ten percent (110%) of the fair market value (determined in accordance with Section 6.1.9) of the stock
covered by the Option at the time the Option is granted.

 

6.3.2Disqualifying Dispositions.
If stock acquired by exercise of an ISO granted pursuant to the Plan is disposed of in a “disqualifying disposition”
within the meaning of Section 422 of the Code (a disposition within two (2) years from the date of grant of the Option or within
one year after the issuance of such stock on exercise of the Option), the holder of the stock immediately before the disposition
shall promptly notify the Company in writing of the date and terms of the disposition and shall provide such other information
regarding the Option as the Company may reasonably require.

 

6.3.3Grant Date. If an ISO
is granted in anticipation of employment as provided in Section 5.4, the Option shall be deemed granted, without further approval,
on the date the grantee assumes the employment relationship forming the basis for such grant, and, in addition, satisfies all requirements
of the Plan for Options granted on that date.

 

6.3.4Term. Notwithstanding
Section 6.1.10, no ISO granted to any Ten Percent Stockholder shall be exercisable more than five (5) years after the date of grant.

 

6.3.5Termination of Employment.
Except as otherwise provided in the stock option agreement, if for any reason an optionee ceases to be employed by the Company
or any of its Affiliates, Options that are ISOs held at the date of termination (to the extent then exercisable) may be exercised
in whole or in part at any time within 90 days of the date of termination (but in no event after the Expiration Date). For purposes
of this Section 6.3.5, an optionee’s employment shall not be deemed to terminate by reason of the optionee’s transfer
from the Company to an Affiliate, or vice versa, or sick leave, military leave or other leave of absence approved by the Administrator,
if the period of any such leave does not exceed ninety (90) days or, if longer, if the optionee’s right to reemployment by
the Company or any Affiliate is guaranteed either contractually or by statute.

 

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6.4Terms and Conditions Applicable
Solely to SARs. In addition to the other terms and conditions applicable to SARs in this Section 6, the holder shall be entitled
to receive on exercise of an SAR only Common Stock at a fair market value equal to the benefit to be received by the exercise.

 

		7.	MANNER OF EXERCISE

 

7.1An optionee wishing to exercise
an Option or SAR shall give written notice to the Company at its principal executive office, to the attention of the officer of
the Company designated by the Administrator, accompanied by payment of the exercise price and/or withholding taxes as provided
in Sections 6.1.6 and 6.1.7. The date the Company receives written notice of an exercise hereunder accompanied by the applicable
payment will be considered as the date such Option or SAR was exercised.

 

7.2Promptly after receipt of
written notice of exercise and the applicable payments called for by Section 7.1, the Company shall, without stock issue or transfer
taxes to the holder or other person entitled to exercise the Option or SAR, deliver to the holder or such other person a certificate
or certificates for the requisite number of shares of Common Stock. A holder or permitted transferee of an Option or SAR shall
not have any privileges as a stockholder with respect to any shares of Common Stock to be issued until the date of issuance (as
evidenced by the appropriate entry on the books of the Company or a duly authorized transfer agent) of such shares.

 

		8.	RESTRICTED STOCK

 

8.1Grant or Sale of Restricted
Stock.

 

8.1.1No awards of restricted stock
shall be granted under the Plan after ten (10) years from the date of adoption of the Plan by the Board.

 

8.1.2The Administrator may issue
Common Stock under the Plan as a grant or for such consideration (including services, and, subject to the Sarbanes-Oxley Act of
2002, promissory notes) as determined by the Administrator. Common Stock issued under the Plan shall be subject to the terms, conditions
and restrictions determined by the Administrator. The restrictions may include restrictions concerning transferability, repurchase
by the Company and forfeiture of the shares issued, together with such other restrictions as may be determined by the Administrator.
If shares are subject to forfeiture or repurchase by the Company, all dividends or other distributions paid by the Company with
respect to the shares may be retained by the Company until the shares are no longer subject to forfeiture or repurchase, at which
time all accumulated amounts shall be paid to the recipient. All Common Stock issued pursuant to this Section 8 shall be subject
to a purchase or grant agreement, which shall be executed by the Company and the prospective recipient of the Common Stock prior
to the delivery of certificates representing such stock to the recipient. The purchase or grant agreement may contain any terms,
conditions, restrictions, representations and warranties required by the Administrator. The certificates representing the shares
shall bear any legends required by the Administrator. The Administrator may require any purchaser of restricted stock to pay to
the Company in cash upon demand amounts necessary to satisfy any applicable federal, state or local tax withholding requirements.
If the purchaser fails to pay the amount demanded, the Administrator may withhold that amount from other amounts payable by the
Company to the purchaser, including salary, subject to applicable law. With the consent of the Administrator in its sole discretion,
a purchaser may deliver Common Stock to the Company to satisfy this withholding obligation. Upon the issuance of restricted stock,
the number of shares reserved for issuance under the Plan shall be reduced by the number of shares issued.

 

8.2Changes in Capital Structure.
In the event of a change in the Company’s capital structure, as described in Section 6.1.1, appropriate adjustments shall
be made by the Administrator, in its sole discretion, in the number and class of restricted stock subject to the Plan and the restricted
stock outstanding under the Plan; provided, however, that the Company shall not be required to issue fractional shares
as a result of any such adjustments.

 

8.3Corporate Transactions.
In the event of a Corporate Transaction, as defined in Section 6.1.2 hereof, to the extent not previously forfeited, all restricted
stock shall be forfeited immediately prior to the consummation of such Corporate Transaction unless the Administrator determines
otherwise in its sole discretion; provided, however, that the Administrator, in its sole discretion, may remove any
restrictions as to any restricted stock. The Administrator may, in its sole discretion, provide that all outstanding restricted
stock participate in the Corporate Transaction with an equivalent stock substituted by an applicable successor corporation subject
to the restriction.

 

		9.	EMPLOYMENT OR CONSULTING RELATIONSHIP

 

Nothing in the Plan or any Option granted
under the Plan shall interfere with or limit in any way the right of the Company or of any of its Affiliates to terminate the employment,
consulting or advising of any optionee or restricted stock holder at any time, nor confer upon any optionee or restricted stock
holder any right to continue in the employ of, or consult with, or advise, the Company or any of its Affiliates.

 

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		10.	CONDITIONS UPON ISSUANCE OF SHARES

 

10.1Securities Act. Shares
of Common Stock shall not be issued pursuant to the exercise of an Option or the receipt of restricted stock unless the exercise
of such Option or such receipt of restricted stock 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 “Securities Act”).

 

10.2Non-Compete Agreement.
As a further condition to the receipt of Common Stock pursuant to the exercise of an Option or the receipt of restricted stock,
the optionee or recipient of restricted stock may be required not to render services for any organization, or engage directly or
indirectly in any business, competitive with the Company at any time during which (i) an Option is outstanding to such Optionee
and for six (6) months after any exercise of an Option or the receipt of Common Stock pursuant to the exercise of an Option and
(ii) restricted stock is owned by such recipient and for six (6) months after the restrictions on such restricted stock lapse.
Failure to comply with this condition shall cause such Option and the exercise or issuance of shares thereunder and/or the award
of restricted stock to be rescinded and the benefit of such exercise, issuance or award to be repaid to the Company.

 

		11.	NON-EXCLUSIVITY OF THE PLAN

 

The adoption of the Plan shall not be construed
as creating any limitations on the power of the Company to adopt such other incentive arrangements as it may deem desirable, including,
without limitation, the granting of stock options other than under the Plan.

 

		12.	MARKET STAND-OFF

 

Each optionee, holder of an SAR or recipient
of restricted stock, if so requested by the Company or any representative of the underwriters in connection with any registration
of the offering of any securities of the Company under the Securities Act, shall not sell or otherwise transfer any shares of Common
Stock acquired upon exercise of Options, SARs or receipt of restricted stock during the 180-day period following the effective
date of a registration statement of the Company filed under the Securities Act; provided, however, that such restriction
shall apply only to a registration statement of the Company which includes securities to be sold on behalf of the Company to the
public in an underwritten public offering under the Securities Act and the restriction period shall not exceed 90 days after the
registration statement becomes effective.

 

		13.	AMENDMENTS TO PLAN

 

The Board may at any time amend, alter,
suspend or discontinue the Plan. Without the consent of an optionee, holder of an SAR or holder of restricted stock, no amendment,
alteration, suspension or discontinuance may adversely affect such person’s outstanding Option(s), SAR(s) or the terms applicable
to restricted stock except to conform the Plan and ISOs granted under the Plan to the requirements of federal or other tax laws
relating to ISOs. No amendment, alteration, suspension or discontinuance shall require stockholder approval unless (a) stockholder
approval is required to preserve incentive stock option treatment for federal income tax purposes or (b) the Board otherwise concludes
that stockholder approval is advisable.

 

		14.	EFFECTIVE DATE OF PLAN; TERMINATION

 

The Plan shall become effective upon adoption
by the Board; provided, however, that no Option or SAR shall be exercisable unless and until written consent of the
stockholders of the Company, or approval of stockholders of the Company voting at a validly called stockholders’ meeting,
is obtained within twelve (12) months after adoption by the Board. If any Options or SARs are so granted and stockholder approval
shall not have been obtained within twelve (12) months of the date of adoption of the Plan by the Board, such Options and SARs
shall terminate retroactively as of the date they were granted. Awards may be made under the Plan and exercise of Options and SARs
shall occur only after there has been compliance with all applicable federal and state securities laws. The Plan (but not Options
and SARs previously granted under the Plan) shall terminate ten (10) years from the date of its adoption by the Board. Termination
shall not affect any outstanding Options or SARs or the terms applicable to previously awarded restricted stock.

 

    	7Exhibit 10.3

 

Main and Second Street LLC

LEASE AGREEMENT

 

 

THIS LEASE AGREEMENT (hereinafter referred
to as the "Agreement") made and entered into this 1st day of June, 2012, by and between Main and Second Street, LLC
whose address is 295 East Main Street, Suite 1, Ashland, OR 97520 (hereinafter referred to as "Lessor") and ecoSolutions
Intl (hereinafter referred to as "Lessee").

 

 

WITNESSETH:

 

WHEREAS, Lessor is the fee owner of certain
real property being, lying and situated in Jackson County, Oregon, such real property having a street address of 295 East Main
Street, Suite 1/ 20, Ashland, OR, 97520 and uses Suite 1 for mailing.

 

WHEREAS, Lessor is desirous of leasing the Premises
to Lessee upon the terms and conditions as contained herein; and

 

WHEREAS, Lessee is desirous of leasing the Premises
from Lessor on the terms and conditions as contained herein;

 

The parties hereto hereby agree as follows:

 

 

1. TERM. The term of said lease shall be for
the period beginning June 1, 2012, and ending May 31, 2013.

 

2. RENTAL. The rent per month hereof is the
sum of THREE HUNDRED DOLLARS ($300.00) payable on the 1st day of each month with the first installment
to be paid during the execution of this agreement. All such payments shall be made to Lessor at Lessor's address as set forth
in the preamble to this Agreement on or before the due date and without demand.

 

3. DAMAGE/CLEANING DEPOSIT. Due to the nature
of the tenant who is also the owner of the building at the time of implementing this agreement, all deposits were waived.

 

4. USE OF PREMISES. The Premises shall be used
and occupied solely for business purposes by Lessee. No part of the Premises shall be used at any time during the term of this
Agreement by Lessee for lodging or overnight stays. Lessee shall not allow any other person to use or occupy the Premises without
first obtaining Lessor's written consent.

 

Lessee shall comply with any and all laws, ordinances, rules and
orders of any and all governmental or quasi-governmental authorities affecting the cleanliness, use, occupancy and preservation
of the Premises.

 

5. CONDITION OF PREMISES. Lessee stipulates,
represents and warrants that Lessee has examined the Premises, and that they are at the time of this Agreement in good order, repair,
and in a safe, clean and tenantable condition.

 

6. ASSIGNMENT AND SUB-LETTING. Lessee shall
not assign this Agreement, or sub-let or grant any license to use the Premises or any part thereof without the prior written consent
of Lessor. A consent by Lessor to one such assignment, sub-letting or license shall not be deemed to be a consent to any subsequent
assignment, sub-letting or license. An assignment, sub-letting or license without the prior written consent of Lessor or an assignment
or sub-letting by operation of law shall be absolutely null and void and shall, at Lessor's option, terminate this Agreement.

 

7. ALTERATIONS AND IMPROVEMENTS. Lessee shall
make no alterations to the buildings or improvements on the Premises or construct any building or make any other improvements on
the Premises without the prior written consent of Lessor. Any and all alterations, changes, and/or improvements built, constructed
or placed on the Premises by Lessee shall, unless otherwise provided by written agreement between Lessor and Lessee, be and become
the property of Lessor and remain on the Premises at the expiration or earlier termination of this Agreement.

 

8. NON-DELIVERY OF POSSESSION. In the event
Lessor cannot deliver possession of the Premises to Lessee upon the commencement of the Agreement term, through no fault of Lessor
or its agents, then Lessor or its agents shall have no liability, but the rental herein provided shall abate until possession is
given. Lessor or its agents shall have thirty (30) days in which to give possession, and if possession is tendered within such
time, Lessee agrees to accept the demised Premises and pay the rental herein provided from that date. In the event possession cannot
be delivered within such time, through no fault of Lessor or its agents, then this Agreement and all rights hereunder . Electrical
and gas utilities are included in the lease. Lessee shall be responsible for their additional monthly utility bills.

    	 

    	 

    

 

9. HAZARDOUS MATERIALS. Lessee shall not keep
on the Premises any item of a dangerous, flammable or explosive character that might unreasonably increase the danger of fire or
explosion on the Premises or that might be considered hazardous or extra hazardous by any responsible insurance company.

 

10. UTILITIES. Lessee shall be responsible for
their monthly utility bills, which includes 20% of the electrical bill for 293 E. Main St.

 

11. MAINTENANCE AND REPAIR; RULES. Lessee will,
at its sole expense, keep and maintain the Premises and appurtenances in good and sanitary condition and repair during the term
of this Agreement and any renewal thereof. Without limiting the generality of the foregoing, Lessee shall:

 

(a) Not obstruct the driveways, sidewalks, courts,
entry ways, stairs and/or halls, which shall be used for the purposes of ingress and egress only;

 

(b) Keep all windows, glass, window coverings,
doors, locks and hardware in good, clean order and repair;

 

(c) Not obstruct or cover the windows or doors;

 

(d) Not leave windows or doors in an open position
during any inclement weather;

 

(e) Not hang any laundry, clothing, sheets,
etc. from any window, rail, porch or balcony nor air or dry any of same within any deck area or space;

 

(f) Not cause or permit any locks or hooks to
be placed upon any door or window without the prior written consent of Lessor;

 

(g) Keep all air conditioning filters clean
and free from dirt;

 

(h) Keep all lavatories, sinks, toilets, and
all other water and plumbing apparatus in good order and repair and shall use same only for the purposes for which they were constructed.

 

Lessee shall not allow any sweepings, rubbish, sand, rags, ashes
or other substances to be thrown or deposited therein. Any damage to any such apparatus and the cost of clearing stopped plumbing
resulting from misuse shall be borne by Lessee;

 

(i) And Lessee's employees and guests shall
at all times maintain order in the Premises and at all places on the Premises, and shall not make or permit any loud or improper
noises, or otherwise disturb other tenants;

 

(j) Keep all radios, television sets, stereos,
phonographs, etc., turned down to a level of sound that does not annoy or interfere with other tenants;

 

(k) Deposit all trash, garbage, rubbish or refuse
in the locations provided there for and shall not allow any trash, garbage, rubbish or refuse to be deposited or permitted to stand
on the exterior of any building or within the common elements;

 

(l) To keep the rear deck behind the premises
leased clean and free from garbage and trash residue;

 

(m) Abide by and be bound by any and all rules
and regulations affecting the Premises or the common area appurtenant thereto which may be adopted or promulgated by the Lessor.

 

12. DAMAGE TO PREMISES. In the event the Premises
are destroyed or rendered wholly untenantable by fire, storm, earthquake, or other casualty not caused by the negligence of Lessee,
this Agreement shall terminate from such time except for the purpose of enforcing rights that may have then accrued hereunder.
The rental provided for herein shall then be accounted for by and between Lessor and Lessee up to the time of such injury or destruction
of the Premises, Lessee paying rentals up to such date and Lessor refunding rentals collected beyond such date. Should a portion
of the Premises thereby be rendered untenantable, the Lessor shall have the option of either repairing such injured or damaged
portion or terminating this Agreement. In the event that Lessor exercises its right to repair such untenantable portion, the rental
shall abate in the proportion that the injured parts bears to the whole Premises, and such part so injured shall be restored by
Lessor as speedily as practicable, after which the full rent shall recommence and the Agreement continue according to its terms.

    	 

    	 

    

 

13. INSPECTION OF PREMISES. Lessor and Lessor's
agents shall have the right at all reasonable times during the term of this Agreement and any renewal thereof to enter the Premises
for the purpose of inspecting the Premises and all buildings and improvements thereon. And for the purposes of making any repairs,
additions or alterations as may be deemed appropriate by Lessor for the preservation of the Premises or the building. Lessor and
its agents shall further have the right to exhibit the Premises and to display the usual "for sale", "for rent"
or "vacancy" signs on the Premises at any time within forty-five (45) days before the expiration of this Agreement. The
right of entry shall likewise exist for the purpose of removing placards, signs, fixtures, alterations or additions, but do not
conform to this Agreement or to any restrictions, rules or regulations affecting the Premises.

 

14. SUBORDINATION OF AGREEMENT. This Agreement
and Lessee's interest hereunder are and shall be subordinate, junior and inferior to any and all mortgages, liens or encumbrances
now or hereafter placed on the Premises by Lessor, all advances made under any such mortgages, liens or encumbrances (including,
but not limited to, future advances), the interest payable on such mortgages, liens or encumbrances and any and all renewals, extensions
or modifications of such mortgages, liens or encumbrances.

 

15. LESSEE'S HOLD OVER. If Lessee remains in
possession of the Premises with the consent of Lessor after the natural expiration of this Agreement, a new tenancy from month-to-month
shall be created between Lessor and Lessee where the Landlord or Renter may terminate the month to month agreement with at least
thirty (30) days notice.

 

16. SURRENDER OF PREMISES. Upon the expiration
of the term hereof, Lessee shall surrender the Premises in as good a state and condition as they were at the commencement of this
Agreement, reasonable use and wear and tear thereof and damages by the elements excepted.

 

17. ANIMALS. Lessee shall not keep nor allow
any animal on the Premises with the exception of Service Animals. Discovery of such shall be cause for the termination of this
Agreement.

 

18. SMOKING. Lessee shall not smoke nor allow
anyone to smoke in the Premises or in the common indoor areas. Smoking is allowed only outdoors at a distance more than 10 feet
from any building entrance. Lessee is responsible for providing appropriate disposal containers and for emptying and cleaning of
such containers on a regular basis.

 

19. QUIET ENJOYMENT. Lessee, upon payment of
all of the sums referred to herein as being payable by Lessee and Lessee's performance of all Lessee's agreements contained herein
and Lessee's observance of all rules and regulations, shall and may peacefully and quietly have, hold and enjoy said Premises for
the term hereof.

 

20. INDEMNIFICATION. Lessor shall not be liable
for any damage or injury of or to the Lessee, Lessee's family, guests, invitees, agents or employees or to any person entering
the Premises or the building of which the Premises are a part or to goods or equipment, or in the structure or equipment of the
structure of which the Premises are a part, and Lessee hereby agrees to indemnify, defend and hold Lessor harmless from any and
all claims or assertions of every kind and nature.

 

21. DEFAULT. If Lessee fails to comply with
any of the material provisions of this Agreement, other than the covenant to pay rent, or of any present rules and regulations
or any that may be hereafter prescribed by Lessor, or materially fails to comply with any duties imposed on Lessee by statute,
within seven (7) days after delivery of written notice by Lessor specifying the non-compliance and indicating the intention of
Lessor to terminate the Agreement by reason thereof, Lessor may terminate this Agreement.

 

If Lessee fails to pay rent when due and the default continues for
seven (7) days thereafter, Lessor may, at Lessor's option, declare the entire balance of rent payable hereunder to be immediately
due and payable and may exercise any and all rights and remedies available to Lessor at law or in equity or may immediately terminate
this Agreement.

 

22. LATE CHARGE. In the event that any payment
required to be paid by Lessee hereunder is not made within five (5) days of when due, Lessee shall pay to Lessor, in addition
to such payment or other charges due hereunder, a "late fee" in the amount of TEN PERCENT (10%)
of the amount due. In the case of unpaid rent, the late fee would amount to THIRTY DOLLARS ($30.00).

 

23. ABANDONMENT. If at any time during the term
of this Agreement Lessee abandons the Premises or any part thereof, Lessor may, at Lessor's option, obtain possession of the Premises
in the manner provided by law, and without becoming liable to Lessee for damages or for any payment of any kind whatever. Lessor
may, at Lessor's discretion, as agent for Lessee, relet the Premises, or any part thereof, for the whole or any part thereof, for
the whole or any part of the then unexpired term, and may receive and collect all rent payable by virtue of such reletting, and,
at Lessor's option, hold Lessee liable for any difference between the rent that would have been payable under this Agreement during
the balance of the unexpired term, if this Agreement had continued in force, and the net rent for such period realized by Lessor
by means of such reletting. If Lessor's right of reentry is exercised following abandonment of the Premises by Lessee, then Lessor
shall consider any personal property belonging to Lessee and left on the Premises to also have been abandoned, in which case Lessor
may dispose of all such personal property in any manner Lessor shall deem proper and Lessor is hereby relieved of all liability
for doing so.

    	 

    	 

    

 

24. ATTORNEYS' FEES. Should it become necessary
for Lessor to employ an attorney to enforce any of the conditions or covenants hereof, including the collection of rentals or gaining
possession of the Premises, Lessee agrees to pay all expenses so incurred, including a reasonable attorneys' fee.

 

25. RECORDING OF AGREEMENT. Lessee shall not
record this Agreement on the Public Records of any public office. In the event that Lessee shall record this Agreement, this Agreement
shall, at Lessor's option, terminate immediately and Lessor shall be entitled to all rights and remedies that it has at law or
in equity.

 

26. GOVERNING LAW. This Agreement shall be governed,
construed and interpreted by, through and under the Laws of the State of Oregon.

 

27. SEVERABILITY. If any provision of this Agreement
or the application thereof shall, for any reason and to any extent, be invalid or unenforceable, neither the remainder of this
Agreement nor the application of the provision to other persons, entities or circumstances shall be affected thereby, but instead
shall be enforced to the maximum extent permitted by law.

 

28. BINDING EFFECT. The covenants, obligations
and conditions herein contained shall be binding on and inure to the benefit of the heirs, legal representatives, and assigns of
the parties hereto.

 

29. DESCRIPTIVE HEADINGS. The descriptive headings
used herein are for convenience of reference only and they are not intended to have any effect whatsoever in determining the rights
or obligations of the Lessor or Lessee.

 

30. CONSTRUCTION. The pronouns used herein shall
include, where appropriate, either gender or both, singular and plural.

 

31. NON-WAIVER. No indulgence, waiver, election
or non-election by Lessor under this Agreement shall affect Lessee's duties and liabilities hereunder.

 

32. MODIFICATION. The parties hereby agree that
this document contains the entire agreement between the parties and this Agreement shall not be modified, changed, altered or amended
in any way except through a written amendment signed by all of the parties hereto.

 

33. RENEWAL. That providing Lessees are not
in default under any of the terms hereof, Lessor hereby grants to Lessees the option to negotiate a renewal of this lease for two
(2) additional one (1) year periods. Lessees shall give Lessor written notice of their intent to exercise to renew no later than
May 15th, 2013.

 

 

 

IN WITNESS WHEREOF, the parties have caused these presents to be
duly executed: As to Lessor this 1st day of June, 2012.

 

Witnesses: "Lessor"

 

 

/s/ William Patridge         

Signed

 

 

    BILL PATRIDGE

MAIN & SECOND ST., LLC 

Printed

 

 

As to Lessee this 1st day of June, 2012.

 

Witnesses: "Lessee"

 

 

/s/ William Patridge

 Signed

 

 

BILL PATRIDGE

ECOSOULTIONS INTL 

Printed

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