Document:

Filed by Automated Filing Services Inc. (604) 609-0244 - Turinco, Inc. - Exhibit 10.2

TURINCO, INC. 

STOCK OPTION AGREEMENT 
(2006 Stock Option Plan –
Employee) 

This STOCK OPTION AGREEMENT is made effective as of this
u day of u, 200u between TURINCO, INC., a Nevada
corporation, (the “Company”) and [NAME OF EMPLOYEE] (the “Employee”).

BACKGROUND 

          A.      Employee
has either been hired to serve as an Employee of the Company, or a subsidiary of
the Company, or the Company desires to induce the Employee to continue to serve
the Company, or a subsidiary of the Company as an Employee. 

          B.      The
Company has adopted the 2006 Stock Option Plan (the "Plan") pursuant to which
shares of its common stock have been reserved for issuance under the Plan. 

NOW, THEREFORE, the parties hereto agree as follows:

Grant of Option 

1.                The
Company hereby irrevocably grants under the Plan to the Employee the right and
option (hereinafter referred to as the “Option”) to purchase from the Company
all or any portion of an aggregate of [Number of Options] (Number of Options)
shares of common stock of the Company (the “Shares”) subject to the terms and
conditions herein set forth. 

2.                The
number of Shares granted will be subject to adjustment pursuant to the terms of
the Plan. 

Exercise Price 

3.                The
exercise price of the Shares covered by the Option shall be $uper
Share.

Exercise and Vesting of Option 

4.                The
Option will vest on the following dates (each a “Vesting Date”):

	Number of Vested Options 	Date of Vesting 
	u 	u
	u 	u 
	u	u 

5.                Except
as provided in Section 7 of this Agreement, the Option will only be exercisable
with respect to that portion of the Option that has vested. 

6.                In
the event of termination of the Option prior to any Vesting Date, that portion
of the Option scheduled to vest on such Vesting Date, and all portions of the
Option scheduled to vest in the 

- 2 - 

future, shall not vest and all of the Employee’s rights to and
under such non-vested portions of the Option shall terminate. 

Term of Option 

7.                To
the extent vested, and except as otherwise provided in this Agreement, the
Option shall be exercisable until u (the “Expiration Date”). This
Agreement and the right of the Employee to exercise the Option will terminate
upon the earliest of the following dates: 

(a)      the
date which is three (3) months from the date on which the Employee ceases to be
a Employee of the Company or any subsidiary of the Company, if applicable; 

(b)      in the event of the
termination of the Employee for Cause (as defined in the Plan), the earliest
date on which the Employee is terminated as a Employee; 

(c)      the
date which is one (1) year from the date of the Employee’s retirement,
disability or death, in the event of termination as a result of the retirement,
disability or death of the Employee; or 

(d)      the Expiration Date. 

Upon termination of this Agreement and the right of Employee to
exercise the Option as set forth above, the Option shall terminate and become
null and void. 

Manner of Exercising Option 

8.               
Subject to the terms and conditions of this Agreement, the Option may be
exercised, in whole or in part, by giving written notice to the Company,
specifying the number of Shares to be purchased and accompanied by the full
exercise price for such Shares. Any such notice shall be deemed given when
received by the Company at its corporate headquarters. The exercise price shall
be payable: 

(a)      in
United States dollars upon exercise of the Option and may be paid by cash,
uncertified or certified check or bank draft; or 

(b)      at the election and sole
discretion of the Company, in such other manner as is permitted pursuant to the
Plan.

All Shares that shall be issued upon the exercise of the Option
as provided herein shall be issued as fully paid and non-assessable shares of
the Company’s common stock. 

Rights of Option Holder 

9.                The
Employee, as holder of the Option, shall not have any of the rights of a
shareholder with respect to the Shares covered by the Option except to the
extent that one or more certificates for such Shares shall be delivered to him
or her upon the due exercise of all or any portion of the Option. 

Non-Transferability 

10.              
The Option shall not be transferred, pledged or assigned except as provided in
the Plan. 

- 3 - 

No Employment or Right to Corporate Assets 

11.               Nothing
contained in this Agreement shall be deemed to grant the Employee any right to
employment with the Company for any period of time or to any right to continue
his or her present or any other rate of compensation, nor shall this Agreement
be construed as giving the Employee, the Employee’s beneficiaries or any other
person any equity or interests of any kind in the assets of the Company or
creating a trust of any kind or a fiduciary relationship of any kind between the
Company and any such person. 

Securities Law Matters 

12.               The
Employee acknowledges that the Shares to be received by him or her upon exercise
of the Option have not been registered under the Securities Act of 1933,
as amended, or the Blue Sky laws of any state (collectively, the “Securities
Acts”). The Employee acknowledges and understands that the Company is under no
obligation to register, under the Securities Acts, the Shares received by him or
her or to assist him or her in complying with any exemption from such
registration if he or she should at a later date wish to dispose of the Shares.
The Employee acknowledges that if the Shares are not registered under the
Securities Acts at the time of the exercise of the Option, or any part thereof,
the Shares shall bear a legend restricting the transferability thereof, such
legend to be substantially in the following form: 

  “The shares represented by this certificate have
    not been registered or qualified under the Securities Act of 1933, as amended,
    or state securities laws. The shares may not be offered for sale, sold, pledged
    or otherwise disposed of unless so registered or qualified, unless an exemption
    exists or unless such disposition is not subject to the federal or state securities
    laws, and the Company may require that the availability of any exemption or
    the inapplicability of such securities laws be established by an opinion of
    counsel, which opinion of counsel shall be reasonably satisfactory to the
    Company.” 

Employee Representations 

13.               The
Employee hereby represents and warrants that: 

(a)      the
Employee has reviewed with his or her own tax advisors all applicable tax
consequences of the transactions contemplated by this Agreement. The Employee is
relying solely on such advisors and not on any statements or representation of
the Company or any of its agents. The Employee understands that he or she will
be solely responsible for any tax liability that may result to him or her as a
result of the transactions contemplated by this Agreement;

(b)      the
Employee has been advised to obtain his or her own legal advice in connection
with the execution of this Agreement; and 

(c)      the
Option, if exercised, will be exercised for investment purposes and not with a
view to the sale or distribution of the Shares to be received upon exercise
thereof. 

The Plan 

14.               The
Option is granted pursuant to the Plan and is governed by the terms thereof,
which are incorporated herein by reference. In the event of any conflict or
inconsistency between the provisions of this Agreement and those of the Plan,
the provisions of the Plan shall govern and control. 

- 4 - 

Governing Law 

15.               This
Agreement, in its interpretation and effect, shall be governed by the laws of
the State of Nevada applicable to contracts executed and to be performed
therein. 

Further Assurances 

16.               Each
party hereto agrees to execute such further papers, agreements, assignments or
documents of title as may be necessary or desirable to affect the purposes of
this Agreement and carry out its provisions. 

Entire Agreement 

17.               This
Agreement and the Plan embody the entire agreement made between the parties
hereto with respect to the matters covered herein and shall not be modified
except in writing signed by the party to be charged. 

Counterparts 

18.               This
Agreement may be executed in any number of counterparts and by facsimile, each
of which shall be deemed an original, and all of which shall constitute but one
and the same agreement. 

TURINCO, INC. 

 

	Per: 		 
	 	Michael Jervis 	 
	 	President 	 

	Signature of Employee 	 	 
	 	 	 
	Name of Employee 	 	 
	 	 	 
	Address of EmployeeFiled by Automated Filing Services Inc. (604) 609-0244 - Turinco, Inc. - Exhibit 10.3

TURINCO, INC. 

STOCK OPTION AGREEMENT 
(2006 Stock Option Plan –
Director) 

This STOCK OPTION AGREEMENT is made effective as of this
u day of u, 200u between TURINCO, INC., a Nevada
corporation, (the “Company”) and [NAME OF DIRECTOR] (the “Director”).

BACKGROUND 

          A.     
Director serves on the Board of Directors of the Company, or a subsidiary of the
Company, or the Company desires to induce the Director to serve on the Board of
Directors of the Company, or a subsidiary of the Company as an Director. 

          B.      The
Company has adopted the 2006 Stock Option Plan (the "Plan") pursuant to which
shares of its common stock have been reserved for issuance under the Plan. 

NOW, THEREFORE, the parties hereto agree as follows:

Grant of Option 

1.                The
Company hereby irrevocably grants under the Plan to the Director the right and
option (hereinafter referred to as the “Option”) to purchase from the Company
all or any portion of an aggregate of [Number of Options] (Number of Options)
shares of common stock of the Company (the “Shares”) subject to the terms and
conditions herein set forth. 

2.                The
number of Shares granted will be subject to adjustment pursuant to the terms of
the Plan. 

Exercise Price 

3.               
The exercise price of the Shares covered by the Option shall be $u per
Share.

Exercise and Vesting of Option 

4.                The
Option will vest on the following dates (each a “Vesting Date”):

	Number of Vested Options 	Date of Vesting 
	u	u
	u	u
	u 	u 

5.                Except
as provided in Section 7 of this Agreement, the Option will only be exercisable
with respect to that portion of the Option that has vested. 

6.                In
the event of termination of the Option prior to any Vesting Date, that portion
of the Option scheduled to vest on such Vesting Date, and all portions of the
Option scheduled to vest in the 

– 2 – 

future, shall not vest and all of the Director’s rights to and
under such non-vested portions of the Option shall terminate. 

Term of Option 

7.                To
the extent vested, and except as otherwise provided in this Agreement, the
Option shall be exercisable until u (the “Expiration Date”). This
Agreement and the right of the Director to exercise the Option will terminate
upon the earliest of the following dates: 

(a)      the
date which is three (3) months from the date on which the Director ceases to be
a Director of the Company or any subsidiary of the Company, if applicable; 

(b)      in the event of the removal
of the Director for Cause (as defined in the Plan), the earliest date on which
the Director is removed as a Director; 

(c)      the date which is one (1)
year from the date of the Director’s retirement, disability or death, in the
event of termination as a result of the retirement, disability or death of the
Director; or 

(d)      the
Expiration Date. 

Upon termination of this Agreement and the right of Director to
exercise the Option as set forth above, the Option shall terminate and become
null and void. 

Manner of Exercising Option 

8.                Subject
to the terms and conditions of this Agreement, the Option may be exercised, in
whole or in part, by giving written notice to the Company, specifying the number
of Shares to be purchased and accompanied by the full exercise price for such
Shares. Any such notice shall be deemed given when received by the Company at
its corporate headquarters. The exercise price shall be payable: 

(a)      in United States dollars
upon exercise of the Option and may be paid by cash, uncertified or certified
check or bank draft; or 

(b)      at the election and sole
discretion of the Company, in such other manner as is permitted pursuant to the
Plan.

All Shares that shall be issued upon the exercise of the Option
as provided herein shall be issued as fully paid and non-assessable shares of
the Company’s common stock. 

Rights of Option Holder 

9.                The
Director, as holder of the Option, shall not have any of the rights of a
shareholder with respect to the Shares covered by the Option except to the
extent that one or more certificates for such Shares shall be delivered to him
or her upon the due exercise of all or any portion of the Option. 

Non-Transferability 

10.               The
Option shall not be transferred, pledged or assigned except as provided in the
Plan. 

– 3 – 

No Employment or Right to Corporate Assets 

11.               Nothing
contained in this Agreement shall be deemed to grant the Director any right to
employment or service with the Company for any period of time or to any right to
continue his or her present or any other rate of compensation, nor shall this
Agreement be construed as giving the Director, the Director’s beneficiaries or
any other person any equity or interests of any kind in the assets of the
Company or creating a trust of any kind or a fiduciary relationship of any kind
between the Company and any such person. 

Securities Law Matters 

12.               The
Director acknowledges that the Shares to be received by him or her upon exercise
of the Option have not been registered under the Securities Act of 1933,
as amended, or the Blue Sky laws of any state (collectively, the “Securities
Acts”). The Director acknowledges and understands that the Company is under no
obligation to register, under the Securities Acts, the Shares received by him or
her or to assist him or her in complying with any exemption from such
registration if he or she should at a later date wish to dispose of the Shares.
The Director acknowledges that if the Shares are not registered under the
Securities Acts at the time of the exercise of the Option, or any part thereof,
the Shares shall bear a legend restricting the transferability thereof, such
legend to be substantially in the following form: 

  “The shares represented by this certificate have
    not been registered or qualified under the Securities Act of 1933, as amended,
    or state securities laws. The shares may not be offered for sale, sold, pledged
    or otherwise disposed of unless so registered or qualified, unless an exemption
    exists or unless such disposition is not subject to the federal or state securities
    laws, and the Company may require that the availability of any exemption or
    the inapplicability of such securities laws be established by an opinion of
    counsel, which opinion of counsel shall be reasonably satisfactory to the
    Company.” 

Director Representations 

13.               The
Director hereby represents and warrants that: 

(a)      the Director has reviewed
with his or her own tax advisors all applicable tax consequences of the
transactions contemplated by this Agreement. The Director is relying solely on
such advisors and not on any statements or representation of the Company or any
of its agents. The Director understands that he or she will be solely
responsible for any tax liability that may result to him or her as a result of
the transactions contemplated by this Agreement;

(b)      the Director has been
advised to obtain his or her own legal advice in connection with the execution
of this Agreement; and 

(c)      the Option, if exercised,
will be exercised for investment purposes and not with a view to the sale or
distribution of the Shares to be received upon exercise thereof. 

The Plan 

14.               The
Option is granted pursuant to the Plan and is governed by the terms thereof,
which are incorporated herein by reference. In the event of any conflict or
inconsistency between the provisions of this Agreement and those of the Plan,
the provisions of the Plan shall govern and control. 

– 4 – 

Governing Law 

15.               This
Agreement, in its interpretation and effect, shall be governed by the laws of
the State of Nevada applicable to contracts executed and to be performed
therein. 

Further Assurances 

16.               Each
party hereto agrees to execute such further papers, agreements, assignments or
documents of title as may be necessary or desirable to affect the purposes of
this Agreement and carry out its provisions. 

Entire Agreement 

17.               This
Agreement and the Plan embody the entire agreement made between the parties
hereto with respect to the matters covered herein and shall not be modified
except in writing signed by the party to be charged. 

Counterparts 

18.               This
Agreement may be executed in any number of counterparts and by facsimile, each
of which shall be deemed an original, and all of which shall constitute but one
and the same agreement. 

TURINCO, INC. 

 

	Per: 		 
	 	Michael Jervis 	 
	 	President 	 

	Signature of Director 	 	 
	 	 	 
	Name of Director 	 	 
	 	 	 
	Address of Director

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