Document:

Filed by sedaredgar.com - Lexon Technologies, Inc. - Exhibit 4.1

2009 EQUITY INCENTIVE PLAN

ARTICLE I - PLAN

1.1 PURPOSE. This Plan is a plan for key Employees (including
officers and employee directors) and Consultants of the Company and its
Affiliates and is intended to advance the best interests of the Company, its
Affiliates, and its stockholders by providing those persons who have substantial
responsibility for the management and growth of the Company and its Affiliates
with additional incentives and an opportunity to obtain or increase their
proprietary interest in the Company, thereby encouraging them to continue in the
employ of the Company or any of its Affiliates.

1.2 RULE 16B-3 PLAN. The Plan is intended to comply with all
applicable conditions of Rule 16b-3 (and all subsequent revisions thereof)
promulgated under the Securities Exchange Act of 1934, as amended (the “1934
Act”). To the extent any provision of the Plan or action by the Board of
Directors or Committee fails to so comply, it shall be deemed null and void, to
the extent permitted by law and deemed advisable by the Committee. In addition,
the Board of Directors may amend the Plan from time to time, as it deems
necessary in order to meet the requirements of any amendments to Rule 16b-3
without the consent of the shareholders of the Company.

1.3 EFFECTIVE DATE OF PLAN. The Plan shall be effective
December 8, 2009 (the “Effective Date”), provided that within one year of the
Effective Date, the Plan shall have been approved by at least a majority vote of
stockholders. No Incentive Option, Nonqualified Option, Stock Appreciation
Right, Restricted Stock Award or Performance Stock Award shall be granted
pursuant to the Plan ten years after the Effective Date.

ARTICLE II- DEFINITIONS

The words and phrases defined in this Article shall have the
meaning set out in these definitions throughout this Plan, unless the context in
which any such word or phrase appears reasonably requires a broader, narrower,
or different meaning.

2.1 “AFFILIATE” means any parent corporation and any subsidiary
corporation. The term “parent corporation” means any corporation (other than the
Company) in an unbroken chain of corporations ending with the Company if, at the
time of the action or transaction, each of the corporations other than the
Company owns stock possessing 50% or more of the total combined voting power of
all classes of stock in one of the other corporations in the chain. The term
“subsidiary corporation” means any corporation (other than the Company) in an
unbroken chain of corporations beginning with the Company if, at the time of the
action or transaction, each of the corporations other than the last corporation
in the unbroken chain owns stock possessing 50% or more of the total combined
voting power of all classes of stock in one of the other corporations in the
chain.

2.2 “AWARD” means each of the following granted under this Plan: Incentive Option, Nonqualified Option, Stock Appreciation Right, Restricted Stock Award or Performance Stock Award.

2.3 “BONUS STOCK AWARD” means an Award of Bonus Stock.

2.4 “BOARD OF DIRECTORS” means the board of directors of the Company.

2.5 “CHANGE IN CONTROL” shall mean and include the following transactions or situations:

(a) A sale, transfer, or other disposition by the Company through a single transaction or a series of transactions of securities of the Company representing thirty (30%) percent or more of the combined voting power of the Company’s then
outstanding securities to any “Unrelated Person” or “Unrelated Persons” acting in concert with one another. For purposes of this definition, the term “Person” shall mean and include any individual, partnership, joint
venture, association, trust corporation, or other entity (including a “group” as referred to in Section 13(d)(3) of the 1934 Act). For purposes of this definition, the term “Unrelated Person” shall mean and include any Person
other than the Company, a wholly-owned subsidiary of the Company, or an employee benefit plan of the Company; provided however, a sale to underwriters in connection with a public offering of the Company’s securities pursuant to a firm
commitment shall not be a Change of Control.

(b) A sale, transfer, or other disposition through a single transaction or a series of transactions of all or substantially all of the assets of the Company to an Unrelated Person or Unrelated Persons acting in concert with one another.

(c) A change in the ownership of the Company through a single transaction or a series of transactions such that any Unrelated Person or Unrelated Persons acting in concert with one another become the “Beneficial Owner,” directly or
indirectly, of securities of the Company representing at least thirty (30%) percent of the combined voting power of the Company’s then outstanding securities. For purposes of this definition, the term “Beneficial Owner” shall have the
same meaning as given to that term in Rule 13d-3 promulgated under the 1934 Act, provided that any pledgee of voting securities is not deemed to be the Beneficial Owner thereof prior to its acquisition of voting rights with respect to such
securities.

(d) Any consolidation or merger of the Company with or into an Unrelated Person, unless immediately after the consolidation or merger the holders of the common stock of the Company immediately prior to the consolidation or merger are the beneficial
owners of securities of the surviving corporation representing at least fifty (50%) percent of the combined voting power of the surviving corporation’s then outstanding securities.

(e) During any period of two years, individuals who, at the beginning of such period, constituted the Board of Directors of the Company cease, for any reason, to constitute at

least a majority thereof, unless the election or nomination for election of each new director was approved by the vote of at least two-thirds of the directors then still in office who were directors at the beginning of such period.

(1) A change in control of the Company of a nature that would be required to be reported in response to Item 6(e) of Schedule 14A of Regulation 14A promulgated under the 1934 Act, or any successor regulation of similar importance, regardless of
whether the Company is subject to such reporting requirement.

2.6 “CODE” means the Internal Revenue Code of 1986, as amended.

2.7 “COMMITTEE” means the Compensation Committee of the Board of Directors or such other committee designated by the Board of Directors. The Committee shall be comprised solely of at least two members who are both Disinterested
Persons and Outside Directors or by the Board of Directors in its entirety.

2.8 “COMPANY” means Lexon Technologies, Inc.

2.9 “CONSULTANT” means any person, including an advisor, engaged by the Company or Affiliate to render services and who is compensated for such services.

2.10 “DISINTERESTED PERSON” means a “disinterested person” as that term is defined in Rule 16b-3 under the 1934 Act.

2.11 “ELIGIBLE PERSONS” shall mean, with respect to the Plan, those persons who, at the time that an Award is granted, are (i) key personnel (including officers and directors) of the Company or Affiliate, or (ii) Consultants or
independent contractors who provide valuable services to the Company or Affiliate as determined by the Committee.

2.12 “EMPLOYEE” means a person employed by the Company or any Affiliate to whom an Award is granted.

2.13 “FAIR MARKET VALUE” of the Stock as of any date means (a) the average of the high and low sale prices of the Stock on that date on the principal securities exchange on which the Stock is listed; or (b) if the Stock is not
listed on a securities exchange, the average of the high and low sale prices of the Stock on that date as reported on the NASDAQ National Market System; or (c) if the Stock is not listed on the NASDAQ National Market System, the average of the high
and low bid quotations for the Stock on that date as reported by the National Quotation Bureau Incorporated; or (d) if none of the foregoing is applicable, an amount at the election of the Committee equal to (x), the average between the closing bid
and ask prices per share of Stock on the last preceding date on which those prices were reported or (y) that amount as determined by the Committee in good faith.

2.14 “INCENTIVE OPTION” means an option to purchase Stock granted under this Plan which is designated as an “Incentive Option” and satisfies the requirements of Section 422 of the Code.

2.15 “NONQUALIFTED OPTION” means an option to purchase Stock granted under this Plan other than an Incentive Option.

2.16 “OPTION” means both an Incentive Option and a Nonqualified Option granted under this Plan to purchase shares of Stock.

2.17 “OPTION AGREEMENT” means the written agreement by and between the Company and an Eligible Person that sets out the terms of an Option.

2.18 “OUTSIDE DIRECTOR” means a member of the Board of Directors serving on the Committee who satisfies Section 162(m) of the Code.

2.19 “PLAN” means the Lexon Technologies, Inc. 2009 Equity Incentive Plan, as set out in this document and as it may be amended from time to time.

2.20 “PLAN YEAR” means the Company’s fiscal year.

2.21 “PERFORMANCE STOCK AWARD” means an award of shares of Stock to be issued to an Eligible Person if specified predetermined performance goals are satisfied as described in Article VII.

2.22 “RESTRICTED STOCK” means Stock awarded or purchased under a Restricted Stock Agreement entered into pursuant to this Plan, together with (i) all rights, warranties or similar items attached or accruing thereto or represented by the
certificate representing the stock and (ii) any stock or securities into which or for which the stock is thereafter converted or exchanged. The terms and conditions of the Restricted Stock Agreement shall be determined by the Committee consistent
with the terms of the Plan.

2.23 “RESTRICTED STOCK AGREEMENT” means an agreement between the Company or any Affiliate and the Eligible Person pursuant to which the Eligible Person receives a Restricted Stock Award subject to Article VI.

2.24 “RESTRICTED STOCK AWARD” means an Award of Restricted Stock.

2.25 “RESTRICTED STOCK PURCHASE PRICE” means the purchase price, if any, per share of Restricted Stock subject to an Award. The Restricted Stock Purchase Price shall be determined by the Committee. It may be greater than or less than the
Fair Market Value of the Stock on the date of the Stock Award.

2.26 “STOCK” means the common stock of the Company, $0.001 par value or, in the event that the outstanding shares of common stock are later changed into or exchanged

for a different class of stock or securities of the Company or
another corporation, that other stock or security.

2.27 “STOCK APPRECIATION RIGHT” and “SAR” means the right to
receive the difference between the Fair Market Value of a share of Stock on the
grant date and the Fair Market Value of the share of Stock on the exercise
date.

2.28 “10% STOCKHOLDER” means an individual who, at the time the
Option is granted, owns Stock possessing more than 10% of the total combined
voting power of all classes of stock of the Company or of any Affiliate. An
individual shall be considered as owning the Stock owned, directly or
indirectly, by or for his brothers and sisters (whether by the whole or half
blood), spouse, ancestors, and lineal descendants; and Stock owned, directly or
indirectly, by or for a corporation, partnership, estate, or trust, shall be
considered as being owned proportionately by or for its stockholders, partners,
or beneficiaries.

ARTICLE III - ELIGIBILITY

The individuals who shall be eligible to receive Awards shall
be those Eligible Persons of the Company or any of its Affiliates as the
Committee shall determine from time to time. However, no member of the Committee
shall be eligible to receive any Award or to receive Stock, Options, Stock
Appreciation Rights or any Performance Stock Award under any other plan of the
Company or any of its Affiliates, if to do so would cause the individual not to
be a Disinterested Person or Outside Director. The Board of Directors may
designate one or more individuals who shall not be eligible to receive any Award
under this Plan or under other similar plans of the Company.

ARTICLE IV - GENERAL PROVISIONS RELATING TO AWARDS

4.1 AUTHORITY TO GRANT AWARDS. The Committee may grant to those
Eligible Persons of the Company or any of its Affiliates as it shall from time
to time determine, Awards under the terms and conditions of this Plan. Subject
only to any applicable limitations set out in this Plan, the number of shares of
Stock to be covered by any Award to be granted to an Eligible Person shall be
determined by the Committee.

4.2 SHARES SUBJECT TO PLAN. The total number of shares of Stock
set aside for Awards may be granted under the Plan shall be 10,000,000 shares.
The shares may be treasury shares or authorized but un-issued shares. The
maximum number of shares subject to options or stock appreciation rights which
may be issued to any eligible person under the plan during each plan year shall
be determined by the Committee. The maximum number of shares subject to
restricted stock awards which may be granted to any eligible person under the
plan during each plan year shall be determined by the Committee. The maximum
number of shares subject to performance stock awards which may be granted to any
eligible person during each plan year shall be determined by the Committee. The
number of shares stated in this Section 4.2 shall be subject to adjustment in
accordance with the provisions of Section 4.5. In the event that any outstanding
Award

shall expire or terminate for any reason or any Award is surrendered, the shares of Stock allocable to the unexercised portion of that Award may again be subject to an Award under the Plan.

4.3 NON-TRANSFERABILITY. Awards shall not be transferable by the Eligible Person otherwise than by will or under the laws of descent and distribution, and shall be exercisable, during the Eligible Person’s lifetime, only by him. Restricted
Stock shall be purchased by and/or become vested under a Restricted Stock Agreement during the Eligible Person’s lifetime, only by him. Any attempt to transfer an Award other than under the terms of the Plan and the Agreement shall terminate
the Award and all rights of the Eligible Person to that Award.

4.4 REQUIREMENTS OF LAW. The Company shall not be required to sell or issue any Stock under any Award if issuing that Stock would constitute or result in a violation by the Eligible Person or the Company of any provision of any law, statute, or
regulation of any governmental authority. Specifically, in connection with any applicable statute or regulation relating to the registration of securities, upon exercise of any Option or pursuant to any Award, the Company shall not be required to
issue any Stock unless the Committee has received evidence satisfactory to it to the effect that the holder of that Option or Award will not transfer the Stock except in accordance with applicable law, including receipt of an opinion of counsel
satisfactory to the Company to the effect that any proposed transfer complies with applicable law. The determination by the Committee on this matter shall be final, binding and conclusive. The Company may, but shall in no event be obligated to,
register any Stock covered by this Plan pursuant to applicable securities laws of any country or any political subdivision. In the event the Stock issuable on exercise of an Option or pursuant to an Award is not registered, the Company may imprint
on the certificate evidencing the Stock any legend that counsel for the Company considers necessary or advisable to comply with applicable law. The Company shall not be obligated to take any other affirmative action in order to cause the exercise of
an Option or vesting under an Award, or the issuance of shares pursuant thereto, to comply with any law or regulation of any governmental authority.

4.5 CHANGES IN THE COMPANY’S CAPITAL STRUCTURE.

(a) The existence of outstanding Options or Awards shall not affect in any way the right or power of the Company or its stockholders to make or authorize any or all adjustments, recapitalizations, reorganizations or other changes in the
Company’s capital structure or its business, or any merger or consolidation of the Company, or any issue of bonds, debentures, preferred or prior preference stock ahead of or affecting the Stock or its rights, or the dissolution or liquidation
of the Company, or any sale or transfer of all or any part of its assets or business, or any other corporate act or proceeding, whether of a similar character or otherwise. If the Company shall effect a subdivision or consolidation of shares or
other capital readjustment, the payment of a Stock dividend, or other increase or reduction of the number of shares of the Stock outstanding, without receiving compensation for it in money, services or property, then (a) the number, class, and per
share price of shares of Stock subject to outstanding Options under this Plan shall be

appropriately adjusted in such a manner as to entitle an Eligible Person to receive upon exercise of an Option, for the same aggregate cash consideration, the equivalent total number and class of shares he would have received had he exercised his
Option in full immediately prior to the event requiring the adjustment; and (b) the number and class of shares of Stock then reserved to be issued under the Plan shall be adjusted by substituting for the total number and class of shares of Stock
then reserved, that number and class of shares of Stock that would have been received by the owner of an equal number of outstanding shares of each class of Stock as the result of the event requiring the adjustment.

(b) If the Company is merged or consolidated with another corporation and the Company is not the surviving corporation, or if the Company is liquidated or sells or otherwise disposes of substantially all its assets while unexercised Options remain
outstanding under this Plan:

(i) subject to the provisions of clause (c) below, after the effective date of the merger, consolidation, liquidation, sale or other disposition, as the case may be, each holder of an outstanding Option shall be entitled, upon exercise of the
Option, to receive, in lieu of shares of Stock, the number and class or classes of shares of stock or other securities or property to which the holder would have been entitled if, immediately prior to the merger, consolidation, liquidation, sale or
other disposition, the holder had been the holder of record of a number of shares of Stock equal to the number of shares as to which the Option shall be so exercised;

(ii) the Board of Directors may waive any limitations set out in or imposed under this Plan so that all Options, from and after a date prior to the effective date of the merger, consolidation, liquidation, sale or other disposition, as the case may
be, specified by the Board of Directors, shall be exercisable in full; and

(iii) all outstanding Options may be canceled by the Board of Directors as of the effective date of any merger, consolidation, liquidation, sale or other disposition, if (i) notice of cancellation shall be given to each holder of an Option and (ii)
each holder of an Option shall have the right to exercise that Option in full (without regard to any limitations set out in or imposed under this Plan or the Option Agreement granting that Option) during a period set by the Board of Directors
preceding the effective date of the merger, consolidation, liquidation, sale or other disposition and, if in the event all outstanding Options may not be exercised in full under applicable securities laws without registration of the shares of Stock
issuable on exercise of the Options, the Board of Directors may limit the exercise of the Options to the number of shares of Stock, if any, as may be issued without registration. The method of choosing which Options may be exercised, and the number
of shares of Stock for which Options may be exercised, shall be solely within the discretion of the Board of Directors.

(c) After a merger of one or more corporations into the Company or after a consolidation of the Company and one or more corporations in which the Company shall be the surviving corporation, each Eligible Person shall be entitled to have his
Restricted Stock

and shares earned under a Performance Stock Award appropriately
adjusted based on the manner the Stock was adjusted under the terms of the
agreement of merger or consolidation.

(d) In each situation described in this Section 4.5, the
Committee will make similar adjustments, as appropriate, in outstanding Stock
Appreciation Rights.

(e) The issuance by the Company of shares of stock of any
class, or securities convertible into shares of stock of any class, for cash or
property, or for labor or services either upon direct sale or upon the exercise
of rights or warrants to subscribe for them, or upon conversion of shares or
obligations of the Company convertible into shares or other securities, shall
not affect, and no adjustment by reason of such issuance shall be made with
respect to, the number, class, or price of shares of Stock then subject to
outstanding Awards.

4.6 ELECTION UNDER SECTION 83(B) OF THE CODE. No Employee shall
exercise the election permitted under Section 83(b) of the Code without written
approval of the Committee. Any Employee doing so shall forfeit all Awards issued
to him under this Plan.

ARTICLE V - OPTIONS AND STOCK APPRECIATION RIGHTS

5.1 TYPE OF OPTION. The Committee shall specify at the time of
grant whether a given Option shall constitute an Incentive Option or a
Nonqualified Option. Incentive Stock Options may only be granted to
Employees.

5.2 OPTION PRICE. The price at which Stock may be purchased
under an Incentive Option shall not be less than the greater of: (a) 100% of the
Fair Market Value of the shares of Stock on the date the Option is granted or
(b) the aggregate par value of the shares of Stock on the date the Option is
granted. The Committee in its discretion may provide that the price at which
shares of Stock may be purchased under an Incentive Option shall be more than
100% of Fair Market Value. In the case of any 10% Stockholder, the price at
which shares of Stock may be purchased under an Incentive Option shall not be
less than 110% of the Fair Market Value of the Stock on the date the Incentive
Option is granted. The price at which shares of Stock may be purchased under a
Nonqualified Option shall be such price as shall be determined by the Committee
in its sole discretion but in no event lower than the par value of the shares of
Stock on the date the Option is granted.

5.3 DURATION OF OPTIONS AND SARS. No Option or SAR shall be
exercisable after the expiration of ten (10) years from the date the Option or
SAR is granted. In the case of a 10% Stockholder, no Incentive Option shall be
exercisable after the expiration of five years from the date the Incentive
Option is granted.

5.4 AMOUNT EXERCISABLE -- INCENTIVE OPTIONS. Each Option may be
exercised from time to time, in whole or in part, in the manner and subject to
the

conditions the Committee, in its sole discretion, may provide in the Option Agreement, as long as the Option is valid and outstanding, and further provided that no Option may be exercisable within six (6) months of the date of grant, unless
otherwise stated in the Option Agreement. To the extent that the aggregate Fair Market Value (determined as of the time an Incentive Option is granted) of the Stock with respect to which Incentive Options first become exercisable by the optionee
during any calendar year (under this Plan and any other incentive stock option plan(s) of the Company or any Affiliate) exceeds $100,000, the portion in excess of $100,000 of the Incentive Option shall be treated as a Nonqualified Option. In
making this determination, Incentive Options shall be taken into account in the order in which they were granted.

5.5 EXERCISE OF OPTIONS. Each Option shall be exercised by the delivery of written notice to the Committee setting forth the number of shares of Stock with respect to which the Option is to be exercised, together with:

(a) cash, certified check, bank draft, or postal or express money order payable to the order of the Company for an amount equal to the option price of the shares,

(b) Stock at its Fair Market Value on the date of exercise, (if approved in advance by the Committee),

(c) an election to make a cashless exercise through a registered broker-dealer (if approved in advance by the Committee),

(d) an election to have shares of Stock, which otherwise would be issued on exercise, withheld in payment of the exercise price (if approved in advance by the Committee), and/or

(e) any other form of payment which is acceptable to the Committee, including without limitation, payment in the form of a promissory note, and specifying the address to which the certificates for the shares are to be mailed.

As promptly as practicable after receipt of written notification and payment, the Company shall deliver to the Eligible Person certificates for the number of shares with respect to which the Option has been exercised, issued in the Eligible
Person’s name. If shares of Stock are used in payment, the aggregate Fair Market Value of the shares of Stock tendered must be equal to or less than the aggregate exercise price of the shares being purchased upon exercise of the Option, and any
difference must be paid by cash, certified check, bank draft, or postal or express money order payable to the order of the Company. Delivery of the shares shall be deemed effected for all purposes when a stock transfer agent of the Company shall
have deposited the certificates in the United States mail, addressed to the Eligible Person, at the address specified by the Eligible Person.

Whenever an Option is exercised by exchanging shares of Stock owned by the Eligible Person, the Eligible Person shall deliver to the Company certificates registered in the name of the Eligible Person representing a number of shares of Stock legally
and

beneficially owned by the Eligible Person, free of all liens, claims, and encumbrances of every kind, accompanied by stock powers duly endorsed in blank by the record holder of the shares represented by the certificates (with signature guaranteed by
a commercial bank or trust company or by a brokerage firm having a membership on a registered national stock exchange). The delivery of certificates upon the exercise of Options is subject to the condition that the person exercising the Option
provide the Company with the information the Company might reasonably request pertaining to exercise, sale or other disposition.

5.6 STOCK APPRECIATION RIGHTS. All Eligible Persons shall be eligible to receive Stock Appreciation Rights. The Committee shall determine the SAR to be awarded from time to time to any Eligible Person. The grant of an SAR to be awarded from time to
time shall neither entitle such person to, nor disqualify such person, from participation in any other grant of awards by the Company, whether under this Plan or any other plan of the Company. If granted as a stand-alone SAR Award, the terms of the
Award shall be provided in a Stock Appreciation Rights Agreement.

5.7 STOCK APPRECIATION RIGHTS IN TANDEM WITH OPTIONS. Stock Appreciation Rights may, at the discretion of the Committee, be included in each Option granted under the Plan to permit the holder of an Option to surrender that Option, or a portion of
the part which is then exercisable, and receive in exchange, upon the conditions and limitations set by the Committee, an amount equal to the excess of the Fair Market Value of the Stock covered by the Option, or the portion of it that was
surrendered, determined as of the date of surrender, over the aggregate exercise price of the Stock. The payment may be made in shares of Stock valued at Fair Market Value, in cash, or partly in cash and partly in shares of Stock, as the Committee
shall decide in its sole discretion. Stock Appreciation Rights may be exercised only when the Fair Market Value of the Stock covered by the Option surrendered exceeds the exercise price of the Stock. In the event of the surrender of an Option, or a
portion of it, to exercise the Stock Appreciation Rights, the shares represented by the Option or that part of it which is surrendered, shall not be available for reissuance under the Plan. Each Stock Appreciation Right issued in tandem with an
Option (a) will expire not later than the expiration of the underlying Option, (b) may be for no more than 100% of the difference between the exercise price of the underlying Option and the Fair Market Value of a share of Stock at the time the Stock
Appreciation Right is exercised, (c) is transferable only when the underlying Option is transferable, and under the same conditions, and (d) may be exercised only when the underlying Option is eligible to be exercised.

5.8 CONDITIONS OF STOCK APPRECIATION RIGHTS. All Stock Appreciation Rights shall be subject to such terms, conditions, restrictions or limitations as the Committee deems appropriate, including by way of illustration but not by way of limitation,
restrictions on transferability, requirement of continued employment, individual performance, financial performance of the Company or payment of any applicable employment or withholding taxes.

5.9 PAYMENT OF STOCK APPRECIATION RIGHTS. The amount of payment to which the Eligible Person who reserves an SAR shall be entitled upon the exercise of each SAR shall be equal to the amount, if any by which the Fair Market Value of the specified
shares of Stock on the exercise date exceeds the Fair Market Value of the specified shares of Stock on the date of grant of the SAR. The SAR shall be paid in either cash or Stock, as determined in the discretion of the Committee as set forth in the
SAR agreement. If the payment is in Stock, the number of shares to be paid shall be determined by dividing the amount of such payment by the Fair Market Value of Stock on the exercise date of such SAR.

5.10 EXERCISE ON TERMINATION OF EMPLOYMENT. Unless it is expressly provided otherwise in the Option or SAR agreement, Options and SAR granted to Employees shall terminate one day less than three months after severance of employment of the Employee
from the Company and all Affiliates for any reason, with or without cause, other than death, retirement under the then established rules of the Company, or severance for disability. Whether authorized leave of absence or absence on military or
government service shall constitute severance of the employment of the Employee shall be determined by the Committee at that time.

5.11 DEATH. If, before the expiration of an Option or SAR, the Eligible Person, whether in the employ of the Company or after he has retired or was severed for disability, or otherwise dies, the Option or SAR shall continue until the earlier of the
Option’s or SAWs expiration date or one year following the date of his death, unless it is expressly provided otherwise in the Option or SAR agreement. After the death of the Eligible Person, his executors, administrators or any persons to whom
his Option or SAR may be transferred by will or by the laws of descent and distribution shall have the right, at any time prior to the Option’s or SAR’s expiration or termination, whichever is earlier, to exercise it, to the extent to
which he was entitled to exercise it immediately prior to his death, unless it is expressly provided otherwise in the Option or SAR’s agreement.

5.12 RETIREMENT. Unless it is expressly provided otherwise in the Option Agreement, before the expiration of an Incentive Option, the Employee shall be retired in good standing from the employ of the Company under the then established rules of the
Company, the Incentive Option shall terminate on the earlier of the Option’s expiration date or one day less than one year after his retirement; provided, if an Incentive Option is not exercised within specified time limits prescribed by the
Code, it will become a Nonqualified Option by operation of law. Unless it is expressly provided otherwise in the Option Agreement, if before the expiration of a Nonqualified Option, the Employee shall be retired in good standing from the employ of
the Company under the then established rules of the Company, the Nonqualified Option shall terminate on the earlier of the Nonqualified Option’s expiration date or one day less than one year after his retirement. In the event of retirement, the
Employee shall have the right prior to the termination of the Nonqualified Option to exercise the Nonqualified Option, to the extent to which he was entitled to exercise it immediately prior to his retirement, unless it is expressly provided
otherwise in the Option Agreement. Upon retirement, an SAR shall continue to be exercisable for the remainder of the term of the SAR agreement.

5.13 DISABILITY. If, before the expiration of an Option or SAR, the Employee shall be severed from the employ of the Company for disability, the Option or SAR shall terminate on the earlier of the Option’s or SAR’s expiration date or one
day less than one year after the date he was severed because of disability, unless it is expressly provided otherwise in the Option or SAR agreement. In the event that the Employee shall be severed from the employ of the Company for disability, the
Employee shall have the right prior to the termination of the Option or SAR to exercise the Option, to the extent to which he was entitled to exercise it immediately prior to his retirement or severance of employment for disability, unless it is
expressly provided otherwise in the Option Agreement.

5.14 SUBSTITUTION OPTIONS. Options may be granted under this Plan from time to time in substitution for stock options held by employees of other corporations who are about to become employees of or affiliated with the Company or any Affiliate as the
result of a merger or consolidation of the employing corporation with the Company or any Affiliate, or the acquisition by the Company or any Affiliate of the assets of the employing corporation, or the acquisition by the Company or any Affiliate of
stock of the employing corporation as the result of which it becomes an Affiliate of the Company. The terms and conditions of the substitute Options granted may vary from the terms and conditions set out in this Plan to the extent the Committee, at
the time of grant, may deem appropriate to conform, in whole or in part, to the provisions of the stock options in substitution for which they are granted.

5.15 RELOAD OPTIONS. Without in any way limiting the authority of the Board of Directors or Committee to make or not to make grants of Options hereunder, the Board of Directors or Committee shall have the authority (but not an obligation) to include
as part of any Option Agreement a provision entitling the Eligible Person to a further Option (a “Reload Option”) in the event the Eligible Person exercises the Option evidenced by the Option Agreement, in whole or in part, by surrendering
other shares of Stock in accordance with this Plan and the terms and conditions of the Option Agreement. Any such Reload Option (a) shall be for a number of shares equal to the number of shares surrendered as part or all of the exercise price of
such Option; (b) shall have an expiration date which is the greater of (i) the same expiration date of the Option the exercise of which gave rise to such Reload Option or (ii) one year from the date of grant of the Reload Option; and (c) shall have
an exercise price which is equal to one hundred percent (100%) of the Fair Market Value of the Stock subject to the Reload Option on the date of exercise of the original Option. Notwithstanding the foregoing, a Reload Option which is an Incentive
Option and which is granted to a 10% Stockholder, shall have an exercise price which is equal to one hundred ten percent (110%) of the Fair Market Value of the Stock subject to the Reload Option on the date of exercise of the original Option and
shall have a term which is no longer than five (5) years.

Any such Reload Option may be an Incentive Option or a Nonqualified Option, as the Board of Directors or Committee may designate at the time of the grant of the original Option; provided, however, that the designation of any Reload Option as an
Incentive Option shall be subject to the one hundred thousand dollar ($100,000) annual limitation

on exercisability of Incentive Stock Options described in the
Plan and in Section 422(d) of the Code. There shall be no Reload Options on a
Reload Option. Any such Reload Option shall be subject to the availability of
sufficient shares under Section 4.2 herein and shall be subject to such other
terms and conditions as the Board of Directors or Committee may determine which
are not inconsistent with the express provisions of the Plan regarding the terms
of Options.

5.16 NO RIGHTS AS STOCKHOLDER. No Eligible Person shall have
any rights as a stockholder with respect to Stock covered by his Option until
the date a stock certificate is issued for the Stock.

ARTICLE VI- RESTRICTED STOCK AWARDS

6.1 RESTRICTED STOCK AWARDS. The Committee may issue shares of
Stock to an Eligible Person subject to the terms of a Restricted Stock
Agreement. The Restricted Stock may be issued for no payment by the Eligible
Person or for a payment below the Fair Market Value on the date of grant.
Restricted Stock shall be subject to restrictions as to sale, transfer,
alienation, pledge or other encumbrance and generally will be subject to vesting
over a period of time specified in the Restricted Stock Agreement. The Committee
shall determine the period of vesting, the number of shares, the price, if any,
of Stock included in a Restricted Stock Award, and the other terms and
provisions which are included in a Restricted Stock Agreement.

6.2 RESTRICTIONS. Restricted Stock shall be subject to the
terms and conditions as determined by the Committee, including without
limitation, any or all of the following:

(a) a prohibition against the sale, transfer, alienation,
pledge or other encumbrance of the shares of Restricted Stock, such prohibition
to lapse (i) at such time or times as the Committee shall determine (whether in
annual or more frequent installments, at the time of the death, disability or
retirement of the holder of such shares, or otherwise);

(b) a requirement that the holder of shares of Restricted Stock
forfeit, or in the case of shares sold to an Eligible Person, resell back to the
Company at his cost, all or a part of such shares in the event of termination of
the Eligible Person’s employment during any period in which the shares remain
subject to restrictions;

(c) a prohibition against employment of the holder of
Restricted Stock by any competitor of the Company or its Affiliates, or against
such holder’s dissemination of any secret or confidential information belonging
to the Company or an Affiliate;

(d) unless stated otherwise in the Restricted Stock
Agreement,

(i) if restrictions remain at the time of severance of
employment with the Company and all Affiliates, other than for reason of
disability or death, the Restricted Stock shall be forfeited; and

(ii) if severance of employment is by reason of disability or
death, the restrictions on the shares shall lapse and the Eligible Person or his
heirs or estate shall be 100% vested in the shares subject to the Restricted
Stock Agreement.

6.3 STOCK CERTIFICATE. Shares of Restricted Stock shall be
registered in the name of the Eligible Person receiving the Restricted Stock
Award and deposited, together with a stock power endorsed in blank, with the
Company. Each such certificate shall bear a legend in substantially the
following form:

“The transferability of this certificate and the shares of
Stock represented by it is restricted by and subject to the terms and conditions
(including conditions of forfeiture) contained in the Medizone International,
Inc. 2008 Equity Incentive Plan and an agreement entered into between the
registered owner and the Company. A copy of the Plan and agreement is on file in
the office of the Secretary of the Company.”

6.4 RIGHTS AS STOCKHOLDER. Subject to the terms and conditions
of the Plan, each Eligible Person receiving a certificate for Restricted Stock
shall have all the rights of a stockholder with respect to the shares of Stock
included in the Restricted Stock Award during any period in which such shares
are subject to forfeiture and restrictions on transfer, including without
limitation, the right to vote such shares. Dividends paid with respect to shares
of Restricted Stock in cash or property other than Stock in the Company or
rights to acquire stock in the Company shall be paid to the Eligible Person
currently. Dividends paid in Stock in the Company or rights to acquire Stock in
the Company shall be added to and become a part of the Restricted Stock.

6.5 LAPSE OF RESTRICTIONS. At the end of the time period during
which any shares of Restricted Stock are subject to forfeiture and restrictions
on sale, transfer, alienation, pledge, or other encumbrance, such shares shall
vest and will be delivered in a certificate, free of all restrictions, to the
Eligible Person or to the Eligible Person’s legal representative, beneficiary or
heir; provided the certificate shall bear such legend, if any, as the Committee
determines is reasonably required by applicable law. By accepting a Stock Award
and executing a Restricted Stock Agreement, the Eligible Person agrees to remit
when due any federal and state income and employment taxes required to be
withheld.

6.6 RESTRICTION PERIOD. No Restricted Stock Award may provide
for restrictions continuing beyond ten (10) years from the date of grant.

ARTICLE VII- PERFORMANCE STOCK AWARDS

7.1 AWARD OF PERFORMANCE STOCK. The Committee may award shares
of Stock, without any payment for such shares, to designated Eligible Persons if
specified performance goals established by the Committee are satisfied. The
terms and provisions herein relating to these performance-based awards are
intended to satisfy Section 162(m) of the Code and regulations issued
thereunder. The designation of an employee eligible for a specific Performance
Stock Award shall be made by the Committee in writing prior

to the beginning of the period for which the performance is
measured (or within such period as permitted by IRS regulations). The Committee
shall establish the maximum number of shares of Stock to be issued to a
designated Employee if the performance goal or goals are met. The Committee
reserves the right to make downward adjustments in the maximum amount of an
Award if in its discretion unforeseen events make such adjustment
appropriate.

7.2 PERFORMANCE GOALS. Performance goals determined by the
Committee may be based on specified increases in cash flow, net profits, Stock
price, Company, segment or Affiliate sales, market share, earnings per share,
return on assets, and/or return on stockholders’ equity.

7.3 ELIGIBILITY. The employees eligible for Performance Stock
Awards are the senior officers (i.e., chief executive officer, president, vice
presidents, secretary, treasurer, and similar positions) of the Company and its
Affiliates, and such other employees of the Company and its Affiliates as may be
designated by the Committee.

7.4 CERTIFICATE OF PERFORMANCE. The Committee must certify in
writing that a performance goal has been attained prior to issuance of any
certificate for a Performance Stock Award to any Employee. If the Committee
certifies the entitlement of an Employee to the Performance Stock Award, the
certificate will be issued to the Employee as soon as administratively
practicable, and subject to other applicable provisions of the Plan, including
but not limited to, all legal requirements and tax withholding. However, payment
may be made in shares of Stock, in cash, or partly in cash and partly in shares
of Stock, as the Committee shall decide in its sole discretion. If a cash
payment is made in lieu of shares of Stock, the number of shares represented by
such payment shall not be available for subsequent issuance under this Plan.

ARTICLE VII- BONUS STOCK AWARDS

8.1 AWARD OF BONUS STOCK. The committee may award shares of
Stock to Eligible Persons, without any payment for such shares and without any
specified performance goals. The Committee reserves the right to issue such
amount of shares to Eligible Persons as the Committee deems fit.

8.2 ELIGIBILITY. The Employees eligible for Bonus Stock Awards
are the senior officers (i.e., chief executive officer, chief operating officer,
chief financial officer, president, vice presidents, secretary, treasurer, and
similar positions) and consultants of the Company and its Affiliates, and such
other employees of the Company and its Affiliates as may be designated by the
Committee.

ARTICLE IX - ADMINISTRATION

The Plan shall be administered by the Committee. All questions
of interpretation and application of the Plan and Awards shall be subject to the
determination of the Committee. A majority of the members of the Committee shall
constitute a quorum. All

determinations of the Committee shall be made by a majority of
its members. Any decision or determination reduced to writing and signed by a
majority of the members shall be as effective as if it had been made by a
majority vote at a meeting properly called and held. This Plan shall be
administered in such a manner as to permit the Options which are designated to
be Incentive Options to qualify as Incentive Options. In carrying out its
authority under this Plan, the Committee shall have full and final authority and
discretion, including but not limited to the following rights, powers and
authorities, to:

(a) determine the Eligible Persons to whom and the time or
times at which Options or Awards will be made,

(b) determine the number of shares and the purchase price of
Stock covered in each Option or Award, subject to the terms of the Plan,

(c) determine the terms, provisions and conditions of each
Option and Award, which need not be identical,

(d) accelerate the time at which any outstanding Option or SAR
may be exercised, or Restricted Stock Award will vest,

(e) define the effect, if any, on an Option or Award of the
death, disability, retirement, or termination of employment of the Employee,

(f) prescribe, amend and rescind rules and regulations relating
to administration of the Plan, and

(g) make all other determinations and take all other actions
deemed necessary, appropriate, or advisable for the proper administration of
this Plan.

The actions of the Committee in exercising all of the rights,
powers, and authorities set out in this Article and all other Articles of this
Plan, when performed in good faith and in its sole judgment, shall be final,
conclusive and binding on all parties.

ARTICLE X - AMENDMENT OR TERMINATION OF PLAN

The Board of Directors of the Company may amend, terminate or
suspend this Plan at any time, in its sole and absolute discretion; provided,
however, that to the extent required to qualify this Plan under Rule 16b-3
promulgated under Section 16 of the Securities Exchange Act of 1934, as amended,
no amendment that would (a) materially increase the number of shares of Stock
that may be issued under this Plan, (b) materially modify the requirements as to
eligibility for participation in this Plan, or (c) otherwise materially increase
the benefits accruing to participants under this Plan, shall be made without the
approval of the Company’s stockholders; provided further, however, that to the
extent required to maintain the status of any Incentive Option under the Code,
no amendment that would (a) change the aggregate number of shares of Stock which
may be issued under Incentive Options, (b) change the class of employees
eligible to receive

Incentive Options, or (c) decrease the Option price for
Incentive Options below the Fair Market Value of the Stock at the time it is
granted, shall be made without the approval of the Company’s stockholders.
Subject to the preceding sentence, the Board of Directors shall have the power
to make any changes in the Plan and in the regulations and administrative
provisions under it or in any outstanding Incentive Option as in the opinion of
counsel for the Company may be necessary or appropriate from time to time to
enable any Incentive Option granted under this Plan to continue to qualify as an
incentive stock option or such other stock option as may be defined under the
Code so as to receive preferential federal income tax treatment.

ARTICLE XI- MISCELLANEOUS

11.1 NO ESTABLISHMENT OF A TRUST FUND. No property shall be set
aside nor shall a trust fund of any kind be established to secure the rights of
any Eligible Person under this Plan. All Eligible Persons shall at all times
rely solely upon the general credit of the Company for the payment of any
benefit which becomes payable under this Plan.

11.2 NO EMPLOYMENT OBLIGATION. The granting of any Option or
Award shall not constitute an employment contract, express or implied, nor
impose upon the Company or any Affiliate any obligation to employ or continue to
employ any Eligible Person. The right of the Company or any Affiliate to
terminate the employment of any person shall not be diminished or affected by
reason of the fact that an Option or Award has been granted to him.

11.3 FORFEITURE. Notwithstanding any other provisions of this
Plan, if the Committee finds by a majority vote after full consideration of the
facts that an Eligible Person, before or after termination of his employment
with the Company or an Affiliate for any reason (a) committed or engaged in
fraud, embezzlement, theft, commission of a felony, or proven dishonesty in the
course of his employment by the Company or an Affiliate, which conduct damaged
the Company or Affiliate, or disclosed trade secrets of the Company or an
Affiliate, or (b) participated, engaged in or had a material, financial or other
interest, whether as an employee, officer, director, consultant, contractor,
stockholder, owner, or otherwise, in any commercial endeavor in the United
States which is competitive with the business of the Company or an Affiliate
without the written consent of the Company or Affiliate, the Eligible Person
shall forfeit all outstanding Options and all outstanding Awards, and including
all exercised Options and other situations pursuant to which the Company has not
yet delivered a stock certificate. Clause (b) shall not be deemed to have been
violated solely by reason of the Eligible Person’s ownership of stock or
securities of any publicly owned corporation, if that ownership does not result
in effective control of the corporation.

The decision of the Committee as to the cause of an Employee’s
discharge, the damage done to the Company or an Affiliate, and the extent of an
Eligible Person’s competitive activity shall be final. No decision of the
Committee, however, shall affect the finality of the discharge of the Employee
by the Company or an Affiliate in any manner.

11.4 TAX WITHHOLDING. The Company or any Affiliate shall be
entitled to deduct from other compensation payable to each Eligible Person any
sums required by federal, state, or local tax law to be withheld with respect to
the grant or exercise of an Option or SAR, lapse of restrictions on Restricted
Stock, or award of Performance Stock. In the alternative, the Company may
require the Eligible Person (or other person exercising the Option, SAR or
receiving the Stock) to pay the sum directly to the employer corporation. If the
Eligible Person (or other person exercising the Option or SAR or receiving the
Stock) is required to pay the sum directly, payment in cash or by check of such
sums for taxes shall be delivered within 10 days after the date of exercise or
lapse of restrictions. The Company shall have no obligation upon exercise of any
Option or lapse of restrictions on Stock until payment has been received, unless
withholding (or offset against a cash payment) as of or prior to the date of
exercise or lapse of restrictions is sufficient to cover all sums due with
respect to that exercise. The Company and its Affiliates shall not be obligated
to advise an Eligible Person of the existence of the tax or the amount which the
employer corporation will be required to withhold.

11.5 WRITTEN AGREEMENT. Each Option and Award shall be embodied
in a written agreement which shall be subject to the terms and conditions of
this Plan and shall be signed by the Eligible Person and by a member of the
Committee on behalf of the Committee and the Company or an executive officer of
the Company, other than the Eligible Person, on behalf of the Company. The
agreement may contain any other provisions that the Committee in its discretion
shall deem advisable which are not inconsistent with the terms of this Plan.

11.6 INDEMNIFICATION OF THE COMMITTEE AND THE BOARD OF
DIRECTORS. With respect to administration of this Plan, the Company shall
indemnify each present and future member of the Committee and the Board of
Directors against, and each member of the Committee and the Board of Directors
shall be entitled without further act on his part to indemnity from the Company
for, all expenses (including attorney’s fees, the amount of judgments and the
amount of approved settlements made with a view to the curtailment of costs of
litigation, other than amounts paid to the Company itself) reasonably incurred
by him in connection with or arising out of any action, suit, or proceeding in
which he may be involved by reason of his being or having been a member of the
Committee and/or the Board of Directors, whether or not he continues to be a
member of the Committee and/or the Board of Directors at the time of incurring
the expenses, including, without limitation, matters as to which he shall be
finally adjudged in any action, suit or proceeding to have been found to have
been negligent in the performance of his duty as a member of the Committee or
the Board of Directors. However, this indemnity shall not include any expenses
incurred by any member of the Committee and/or the Board of Directors in respect
of matters as to which he shall be finally adjudged in any action, suit or
proceeding to have been guilty of gross negligence or willful misconduct in the
performance of his duty as a member of the Committee and the Board of Directors.
In addition, no right of indemnification under this Plan shall be available to
or enforceable by any member of the Committee and the Board of Directors unless,
within 60 days after institution of any action, suit or proceeding, he shall
have offered the Company, in writing, the opportunity to handle and defend same
at

its own expense. This right of indemnification shall inure to the benefit of the heirs, executors or administrators of each member of the Committee and the Board of Directors and shall be in addition to all other rights to which a member of the
Committee and the Board of Directors may be entitled as a matter of law, contract, or otherwise.

11.7 GENDER. If the context requires, words of one gender when used in this Plan shall include the others and words used in the singular or plural shall include the other.

11.8 HEADINGS. Headings of Articles and Sections are included for convenience of reference only and do not constitute part of the Plan and shall not be used in construing the terms of the Plan.

11.9 OTHER COMPENSATION PLANS. The adoption of this Plan shall not affect any other stock option, incentive or other compensation or benefit plans in effect for the Company or any Affiliate, nor shall the Plan preclude the Company from establishing
any other forms of incentive or other compensation for employees of the Company or any Affiliate.

11.10 OTHER OPTIONS OR AWARDS. The grant of an Option or Award shall not confer upon the Eligible Person the right to receive any future or other Options or Awards under this Plan, whether or not Options or Awards may be granted to similarly
situated Eligible Persons, or the right to receive future Options or Awards upon the same terms or conditions as previously granted.

11.11 GOVERNING LAW. The provisions of this Plan shall be construed, administered, and governed under the laws of the State of Delaware.omnibio8kex101_1221009.htm

     

    EXHIBIT
10.1

     

     

    

    WARRANT
BOD #17

    

    WARRANT
TO PURCHASE SHARES

    OF
COMMON STOCK

    OF
OMNI BIO PHARMACEUTICAL, INC.

    

    Warrant
to Purchase 600,000 Shares of Common Stock

    (subject
to adjustment as set forth herein)

    

    Exercise
Price $3.00 Per Share

    (subject
to adjustment as set forth herein)

    

    VOID
AFTER 5 P.M., MST, November 13, 2016

    

    THE
SECURITIES REPRESENTED BY THIS WARRANT HAVE NOT BEEN REGISTERED UNDER THE
SECURITIES ACT OF 1933, AS AMENDED (THE "ACT") OR REGISTERED OR QUALIFIED UNDER
ANY OTHER APPLICABLE FEDERAL OR STATE SECURITIES LAWS.  THESE
SECURITIES MAY NOT BE OFFERED FOR SALE, SOLD, OR OTHERWISE TRANSFERRED, IN WHOLE
OR IN PART, EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT OR
QUALIFICATION FILED IN ACCORDANCE WITH THE ACT OR PURSUANT TO AN EXEMPTION FROM
REGISTRATION UNDER THE ACT.

    

    Omni Bio Pharmaceutical, Inc.,
5350 South Roslyn, Suite 400, Greenwood Village, CO 80111, (the "Company"),
hereby certifies that, for value received, Charles A. Dinarello, 333
15th
Street, Boulder, CO 80302 (who, together with any subsequent holder of this
warrant (“Warrant”), is referred to as the "Holder"), is entitled, subject to
the terms and conditions set forth below, to purchase from the Company at any
time before 5 PM, MST, on November 13, 2016 ("Expiration Date”), up to Six
Hundred Thousand (600,000) of the Company's $.001 par value Common Stock (the
"Shares") at a purchase price of $3.00 per Share (the "Exercise
Price").

    

    The term
"Warrant" as used herein shall include this Warrant and any Warrants issued in
substitution for or replacement of this Warrant, or any Warrants into which this
Warrant may be divided or exchanged.  The number and character of the
securities purchasable upon exercise of this Warrant and the Exercise Price are
subject to adjustment as provided below.

    

    Shares
underlying this Warrant (the “Warrant Shares”) vest according to the schedule
below assuming that the Holder has continuously served as an employee,
non-employee director, advisor or consultant of the Company through such date
subject to Sections 14 and 15 below.

    

    
      	
              Vest Date

            	
              # of Warrant Shares

            
	 
      	 
      
	
              March
      31, 2010

            	
              150,000

            
	
              March
      31, 2011

            	
              150,000

            
	
              March
      31, 2012

            	
              150,000

            
	
              March
      31, 2013

            	
              150,000

            

    

    

     

    
      
        
           

        

        
          
          

          
            

          

        

        
           

        

      

    

    

    1.      Exercise of
Warrant.

     

    
      	
               
      

            	
              (a)

            	
              Subject
      to the other terms and conditions of this Warrant, the purchase rights
      evidenced by this Warrant may be exercised in whole or in part at any
      time, and from time to time before the Expiration Date, by the Holder's
      presentation and surrender of this Warrant to the Company at its principal
      office, accompanied by a duly executed Notice of Exercise, in the form
      attached to and by this reference incorporated in this Warrant as
      Exhibit A, and by payment of the aggregate Exercise Price, in
      immediately available funds, for that number of Shares specified in the
      Notice of Exercise.  In the event this Warrant is exercised in
      part only, as soon as is practicable after the presentation and surrender
      of this Warrant to the Company for exercise, the Company shall execute and
      deliver to the Holder a new Warrant, containing the same terms and
      conditions as this Warrant, evidencing the right of the Holder to purchase
      that number of Shares as to which this Warrant has not been
      exercised.

            

    

     

    
      
        	
                 
      

              	
                (b)

              	
                
                  Upon
      receipt of this Warrant by the Company as described in subsection (a)
      above, the Holder shall be deemed to be the holder of record of the Shares
      issuable upon such exercise, notwithstanding that the transfer books of
      the Company may then be closed or that certificates representing such
      Shares may not have been prepared or actually delivered to the Holder.
      

                

              

      

       

    

    2.      Exchange, Assignment or Loss
of Warrant.

    

    
      	
               
      

            	
              (a)

            	
              This
      Warrant may be sold, transferred or assigned at any time after the Warrant
      has vested, in whole or in part, if (i) the transfer is by operation
      of law as a result of the death of any Holder to whom all or a portion of
      this Warrant may be transferred, (ii) the transfer is to any
      successor of the Holder's business and (iii) to such other persons
      for which transaction an exemption from the registration requirements of
      the Act can be established to the satisfaction of the
      Company.  Any assignment or transfer of this Warrant shall be
      made by the presentation and surrender of this Warrant to the Company at
      its principal office, accompanied by a duly executed Assignment Form, in
      the form attached to and by this reference incorporated in this Warrant as
      Exhibit B.  Upon the presentation and surrender of these
      items to the Company, the Company, at its sole expense, shall execute and
      deliver to the new Holder or Holders a new Warrant or Warrants, containing
      the same terms and conditions as this Warrant, in the name of the new
      Holder or Holders as named in the Assignment Form, and this Warrant shall
      at that time be canceled.

            

    

    

    
      	
               
      

            	
              (b)

            	
              This
      Warrant, alone or with other Warrants containing the same terms and
      conditions and owned by the same Holder, is exchangeable at the option of
      the Holder but at the Company's sole expense, at any time prior to its
      expiration either by its terms or by its exercise in full upon
      presentation and surrender to the Company at its principal office for
      another Warrant or other Warrants, of different denominations but
      containing the same terms and conditions as this Warrant, entitling the
      Holder to purchase the same aggregate number of Shares that were
      purchasable pursuant to the Warrant or Warrants presented and
      surrendered.  At the time of presentation and surrender by the
      Holder to the Company, the Holder also shall deliver to the Company a
      written notice, signed by the Holder, specifying the denominations in
      which new Warrants are to be issued to the
  Holder.

            

    

    

    
      
        
           

        

        
          -
2 -

          
            

          

        

        
           

        

      

    

    

    

    

    
      	
               
      

            	
              (c)

            	
              The
      Company will execute and deliver to the Holder a new Warrant containing
      the same terms and conditions as this Warrant upon receipt by the Company
      of evidence reasonably satisfactory to it of the loss, theft, destruction,
      or mutilation of this Warrant, provided that (i) in the case of loss,
      theft, or destruction, the Company receives from the Holder a reasonably
      satisfactory indemnification, and (ii) in the case of mutilation, the
      Holder presents and surrenders this Warrant to the Company for
      cancellation.  Any new Warrant executed and delivered shall
      constitute an additional contractual obligation on the part of the Company
      regardless of whether the Warrant that was lost, stolen, destroyed, or
      mutilated shall be enforceable by anyone at any
  time.

            

    

    

    3.      Anti-Dilution
Provisions.

    

    3.1       Stock Splits, Dividends,
Etc.

    

    
      	
               
      

            	
              (a)

            	
              If
      the Company shall at any time subdivide its outstanding shares of Common
      Stock (or other securities at the time receivable upon the exercise of the
      Warrant) by recapitalization, reclassification or split-up thereof, or if
      the Company shall declare a stock dividend or distribute shares of Common
      Stock to its stockholders, the number of shares of Common Stock subject to
      this Warrant immediately prior to such subdivision shall be
      proportionately increased, and if the Company shall at any time combine
      the outstanding shares of Common Stock by recapitalization,
      reclassification or combination thereof, the number of shares of Common
      Stock subject to this Warrant immediately prior to such combination shall
      be proportionately decreased. Any such adjustment and adjustment to the
      Exercise Price pursuant to this section shall be effective at the
      close of business on the effective date of such subdivision or combination
      or if any adjustment is the result of a stock dividend or distribution
      then the effective date for such adjustment based thereon shall be the
      record date therefore.

            

    

    

    
      	
               
      

            	
              (b)

            	
              Whenever
      the number of shares of Common Stock purchasable upon the exercise of this
      Warrant is adjusted, as provided in this section, the Exercise Price shall
      be adjusted to the nearest cent by multiplying such Exercise Price
      immediately prior to such adjustment by a fraction (x) the numerator of
      which shall be the number of shares of Common Stock purchasable upon the
      exercise immediately prior to such adjustment, and (y) the denominator of
      which shall be the number of shares of Common Stock so purchasable
      immediately thereafter.

            

    

    

    
      
        
           

        

        
          -
3 -

          
            

          

        

        
           

        

      

    

    

    

    
      	
               
      

            	
              3.2

            	
              Adjustment for
      Reorganization, Consolidation, Merger, Etc.  In case of
      any reorganization of the Company (or any other corporation, the
      securities of which are at the time receivable on the exercise of this
      Warrant) shall consolidate with or merge into another corporation or
      convey all or substantially all of its assets to another corporation,
      then, and in each such case, the Holder of this Warrant upon the exercise
      at any time after the consummation of such reorganization, consolidation,
      merger or conveyance, shall be entitled to receive, in lieu of the
      securities and property receivable upon the exercise of this Warrant prior
      to such consummation, the securities or property to which such Holder
      would have been entitled upon such consummation if such Holder had
      exercised this Warrant immediately prior thereto; in each such case, the
      terms of this Warrant shall be applicable to the securities or property
      received upon the exercise of this Warrant after such
      consummation.

            

    

    

    
      	
               
      

            	
              3.3

            	
              Certificate as to
      Adjustments.  In each case of an adjustment in the number
      of shares of Common Stock receivable on the exercise of this Warrant, the
      Company at its expense shall promptly compute such adjustment in
      accordance with the terms of this Warrant and prepare a certificate
      executed by an officer of the Company setting forth such adjustment and
      showing the facts upon which such adjustment is based.  The
      Company shall forthwith mail a copy of each such certificate to each
      Holder.  The failure to prepare or provide such certificate
      shall not modify the rights of any party
  hereunder.

            

    

     

    
      
        	
                 
      

              	
                3.4

              	
                Notices of Record
      Date, Etc:  In each case of an adjustment in the number of
      shares of Common Stock receivable on the exercise of this Warrant, the
      Company at its expense shall promptly compute such adjustment in
      accordance with the terms of this Warrant and prepare a certificate
      executed by an officer of the Company setting forth such adjustment and
      showing the facts upon which such adjustment is based.  The
      Company shall forthwith mail a copy of each such certificate to each
      Holder.  The failure to prepare or provide such certificate
      shall not modify the rights of any party
  hereunder.

              

      

       

    

    
      	
               
      

            	
              (a)

            	
              the
      Company shall take a record of the holders of its Common Stock (or other
      securities at the time receivable upon the exercise of this Warrant) for
      the purpose of entitling them to receive any dividend (other than a cash
      dividend at the same rate as the rate of the last cash dividend
      theretofore paid) or other distribution, or any right to subscribe for,
      purchase or otherwise acquire any shares of stock of any class or any
      other securities, or to receive any other right;
  or

            

    

    

    
      	
               
      

            	
              (b)

            	
              of
      any voluntary or involuntary dissolution, liquidation or winding-up of the
      Company, then, and in each such case, the Company shall mail or cause to
      be mailed to each Holder a notice specifying, as the case may be,
      (i) the date on which a record is to be taken for the purpose of such
      dividend, distribution or right, and stating the amount and character of
      such dividend, distribution or right, or (ii) the date on which such
      reorganization, reclassification, consolidation, merger, conveyance,
      dissolution, liquidation or winding-up is to take place, and the time, if
      any, to be fixed, as to which the holders of record of Common Stock (or
      such other securities at the time receivable upon the exercise of this
      Warrant) shall be entitled to exchange their shares of Common Stock (or
      such other securities) for securities or other property deliverable upon
      such reorganization, reclassification, consolidation, merger, conveyance,
      dissolution, liquidation or winding-up.  Such notice shall be
      mailed at least twenty (20) days prior to the date therein specified, and
      this Warrant may be exercised prior to said date during the term of this
      Warrant.

            

    

    

    
      
        
           

        

        
          -
4 -

          
            

          

        

        
           

        

      

    

    

    

    

    
      	
               
      

            	
              3.5

            	
              Threshold for
      Adjustments.  Anything in this section to the contrary
      notwithstanding, the Company shall not be required to give effect to any
      adjustment until the cumulative resulting adjustment in the Exercise Price
      pursuant to this Section 3 shall have required a change of the
      Exercise Price by at least $.01, but when the cumulative net effect of
      more than one adjustment so determined shall be to change the Exercise
      Price by at least $.01, such full change in the Exercise Price shall
      thereupon be given effect.  No adjustment shall be made by
      reason of the issuance of shares upon conversion rights, stock issuance
      rights or similar rights currently outstanding or any change in the number
      of treasury shares held by the
Company.

            

    

    

    
      	
               
      

            	
              4.

            	
              Reservation
      of Shares.
      The Company hereby agrees that at all times prior to the Expiration
      Date, it will have authorized and will reserve and keep available for
      issuance and delivery to the Holder that number of Shares that may be
      required from time to time for issuance and delivery upon the exercise of
      the then unexercised portion of this Warrant and all other similar
      Warrants then outstanding and
unexercised.

            

    

     

    
      
        	
                 
      

              	
                5.

              	
                Representations of the
      Holder.   The Company hereby agrees that at
      all times prior to the Expiration Date, it will have authorized and will
      reserve and keep available for issuance and delivery to the Holder that
      number of Shares that may be required from time to time for issuance and
      delivery upon the exercise of the then unexercised portion of this Warrant
      and all other similar Warrants then outstanding and
      unexercised.

              

      

       

    

    
      	
               
      

            	
              (a)

            	
              The
      Holder represents and warrants that the Holder is acquiring this Warrant
      and the Shares solely for the Holder’s own account for investment and not
      with a view to or for sale or distribution of said Warrant or Shares or
      any part thereof.  The Holder also represents that the entire
      legal and beneficial interests of this Warrant and Shares the Holder is
      acquiring are being acquired for, and will be held for, the Holder’s
      account only.

            

    

    
       

      
        	
                 
      

              	
                (b)

              	
                
                  The
      Holder understands that this Warrant and the Shares have not been
      registered under the Act, or the securities laws of any applicable state,
      on the basis that no distribution or public offering of the stock of the
      Company is to be effected.  The Holder realizes that the basis
      for the exemption may not be present if, notwithstanding the Holder’s
      representations, the Holder has a present intention of acquiring the
      securities for a fixed or determinable period in the future, selling (in
      connection with a distribution or otherwise), granting any participation
      in, or otherwise distributing the securities.  The Holder has no
      such present intention.

                

              

      

       

    

    
      	
               
      

            	
              (c)

            	
              The
      Holder recognizes that this Warrant and the Shares must be held
      indefinitely unless they are subsequently registered under the Act or an
      exemption from such registration is available.  The Holder
      recognizes that the Company has no obligation to register this Warrant or
      the Shares, or to comply with any exemption from such registration. This
      Warrant, the Shares, and all other securities issued or issuable upon
      exercise of this Warrant, may not be offered, sold or transferred, in
      whole or in part, except in compliance with the Act, and except in
      compliance with all applicable state securities
  statutes.

            

    

    

    
      	
               
      

            	
              (d)

            	
              The
      Holder is aware that neither this Warrant nor the Shares may be sold
      pursuant to Rule 144 adopted under the Act unless certain conditions are
      met.

            

    

    

    
      
        
           

        

        
          -
5 -

          
            

          

        

        
           

        

      

    

    

    

    
      	
               
      

            	
              (e)

            	
              The
      Holder understands and agrees that all certificates evidencing the
      Exercise Shares shall bear legends substantially in the form of the
      following:

            

    

    

    
      	
               
      

            	
              "The
      securities represented by this Certificate have not been registered under
      the Securities Act of 1933 ("the Act") and are 'restricted securities' as
      that term is defined in Rule 144 under the Act.  The
      securities may not be offered for sale, sold or otherwise transferred
      except pursuant to an effective registration statement under the Act or
      pursuant to an exemption from registration under the Act, the availability
      of which is to be established to the satisfaction of the
      Company."

            

    

     

    
      	
               
      

            	
              6.

            	
              Rights
      of the Holder.  The Holder
      shall not be entitled to any rights as a shareholder in the Company by
      reason of this Warrant, either at law or equity, except as specifically
      provided for herein.  The Company covenants, however, that for
      so long as this Warrant is at least partially unexercised, it will furnish
      any Holder of this Warrant with copies of all reports and communications
      furnished to the shareholders of the
Company.

            

    

    

    
      	
               
      

            	
              7.

            	
              Charges
      Due Upon Exercise.  The Company shall pay any and all
      issue or transfer taxes, including, but not limited to, all federal or
      state taxes, that may be payable with respect to the transfer of this
      Warrant or the issue or delivery of Shares upon the exercise of this
      Warrant.

            

    

    

    
      	
               
      

            	
              8.

            	
              Shares
      to be Fully Paid.  The Company
      covenants that all Shares that may be issued and delivered to a Holder of
      this Warrant upon the exercise of this Warrant will be, upon such
      delivery, validly and duly issued, fully paid and
      non-assessable.

            

    

    

    
      	
               
      

            	
              9.

            	
              Notices.  All
      notices, certificates, requests, or other similar items provided for in
      this Warrant shall be in writing and shall be personally delivered or
      deposited in the United States mail, postage prepaid, addressed to the
      respective party as indicated in the portions of this Warrant preceding
      Section 1.  All notices shall be deemed to be delivered
      upon personal delivery or upon the expiration of three (3) business days
      following deposit in the United States mail, postage
      prepaid.  The addresses of the parties may be changed, and
      addresses of other Holders and holders of Shares may be specified, by
      written notice delivered pursuant to this Section 14.  The
      Company's principal office shall be deemed to be the address provided
      pursuant to this Section for the delivery of notices to the
      Company.

            

    

    

    
      	
              10.

            	
              Applicable
      Law.  This
      Warrant shall be governed by and construed in accordance with the laws of
      the State of Colorado, and courts located in Colorado shall have exclusive
      jurisdiction over all disputes arising hereunder except as provided in
      Section 15 hereof.

               

            

    

    
      	
              11.

            	
              Dispute
      Resolution.   The parties shall attempt in good faith to
      resolve any controversy or claim arising out of or relating to this
      Warrant, or the breach, termination, or validity thereof (a “Dispute”)
      promptly by negotiation between the parties.  If a Dispute has
      not been resolved within thirty (30) days by negotiation, the parties
      shall attempt to mediate the Dispute through the selection of a mutually
      agreeable mediator who shall conduct such mediation in
      confidence.  If a Dispute is not resolved by mediation, then the
      Dispute shall be settled by arbitration in accordance with the Commercial
      Arbitration Rules of the American Arbitration Association, and governed by
      the United States Arbitration Act, 9 U.S.C. §§ 1-16, except as otherwise
      provided herein.  Judgment upon the award rendered by the
      arbitrator may be entered by any court having jurisdiction
      thereof.  The place of arbitration shall be Denver,
      Colorado.  Each party shall be responsible for his own attorney
      fees incurred during any phase of dispute resolution.  The
      arbitrator shall apply the law to the dispute in the same manner as a
      judge as though the dispute was before a court of law of the State of
      Colorado.  The arbitrator shall have the authority to award any
      remedy or relief that a court of the State of Colorado could order or
      grant, including, without limitation, specific performance of any
      obligation created under the Agreement, the issuance of an injunction, or
      the imposition of sanctions for abuse or frustration of the arbitration
      process.  Notwithstanding the foregoing, the arbitrator shall
      not have authority to award punitive damages.  The parties shall
      take all reasonable steps necessary to conduct a hearing no later than
      forty-five (45) days after submission of the matter to
      arbitration.  The arbitrator shall render his decision within
      fifteen (15) days after the close of the arbitration
      hearing.  The arbitration award shall be in writing and shall
      specify the factual and legal bases for the
      award.

            

    
      
        
           

        

        
          -
6 -

          
            

          

        

        
           

        

      

    

     

    
       

      
        
          	
                   12.

                	
                  Market
      Standoff Agreement. The Holder shall not sell, dispose of,
      transfer, make any short sale of, grant any option for the purchase of, or
      enter into any hedging or similar transaction with the same economic
      effect as a sale, any Common Stock (or other securities) of the Company
      held by the Holder, for a period of time specified by the managing
      underwriter(s) or placement agent(s), as applicable, (not to exceed one
      hundred eighty (180) days) following the effective date of a primary
      underwritten public offering by the Company of any Common Stock (or other
      securities) or private placement by the Company of any Common Stock (or
      other securities).  Holder agrees to execute and deliver such
      other agreements as may be reasonably requested by the Company and/or the
      managing underwriter(s) or placement agent(s) which are consistent with
      the foregoing or which are necessary to give further effect
      thereto.  In order to enforce the foregoing covenant, the
      Company may impose stop-transfer instructions with respect to such Common
      Stock (or other securities) until the end of such period.  The
      underwriters or placement agents of the Company’s stock are intended third
      party beneficiaries of this Section 12 and shall have the right, power and
      authority to enforce the provisions hereof as though they were a party
      hereto.

                

        

         

      

    

    
      	
                 
      13.

            	
              Change
      of Control of the Company. As used herein, a "Change of Control"
      shall be deemed to have occurred
if:

            

    

    

    
      	
               
      

            	
              (a)

            	
              Any
      "person" (as such term is used in Sections 13(d) and 14(d) of the Exchange
      Act) (other than persons who are stockholders on the effective date of the
      Plan) becomes a "beneficial owner" (as defined in Rule 13d-3 under
      the Exchange Act), directly or indirectly, of securities of the Company
      representing more than 50% of the voting power of the then outstanding
      securities of the Company; provided that a Change of Control shall not be
      deemed to occur as a result of a change of ownership resulting from the
      death of a stockholder and a Change of Control shall not be deemed to
      occur as a result of a transaction in which the Company becomes a
      subsidiary of another corporation and in which the stockholders of the
      Company immediately prior to the transaction will beneficially own,
      immediately after the transaction, shares entitling such stockholders to
      more than 50% of all votes to which all stockholders of the parent
      corporation would be entitled in the election of directors (without
      consideration of the rights of any class of stock to elect directors by a
      separate class vote); or

            

    

    

    
      	
               
      

            	
              (b)

            	
              The
      stockholders of the Company approve (or, if stockholder approval is not
      required, the Board approves) an agreement providing for (i) the merger or
      consolidation of the Company with another corporation where the
      stockholders of the Company immediately prior to the merger or
      consolidation will not beneficially own, immediately after the merger or
      consolidation, shares entitling such stockholders to more than 50% of all
      votes to which all stockholders of the surviving corporation would be
      entitled in the election of directors (without consideration of the rights
      of any class of stock to elect directors by a separate class vote),
      (ii) the sale or other disposition of all or substantially all of the
      assets of the Company, or (iii) a liquidation or dissolution of the
      Company.

            

    

    

    
      	
                 
      14.

            	
              Consequences
      of a Change of Control.

            

    

     

    (a)    Notice and
Acceleration.    Upon a Change of Control,
(i) the Company shall provide the Holder a written notice of such Change of
Control, (ii) on the date prior to the Change of Control, the Warrant shall
automatically accelerate and become fully exercisable, and (iii) the
restrictions and conditions on the Warrant shall immediately lapse.

     

    (b)    Assumption
of Warrant.    Upon a Change of Control where the
Company is not the surviving corporation (or survives only as a subsidiary of
another corporation), any outstanding portion of the Warrant that is not
exercised shall be assumed by, or replaced with comparable warrants and/or
options by, the surviving corporation.

     

     

    
      
        
           

        

        
          -
7 -

          
            

          

        

        
           

        

      

    

    

    
      
        	
                15.

              	
                Termination of
      Employment, Services, Disability or
  Death.

              

      

      

      
        	
                 
      

              	
                (a)

              	
                In
      the event the Holder ceases to be employed by or provide service to the
      Company for any reason other than Disability, death, or termination for
      Cause, any unvested Warrant Shares will be forfeited and cancelled on the
      date on which the Holder ceases to be employed by, or provide service to,
      the Company.

              

      

       

    

    
      	
               
      

            	
              (b)

            	
              In
      the event the Holder ceases to be employed by, or provide service to, the
      Company due to termination for Cause by the Company, this Warrant shall
      terminate as of the date the Holder ceases to be employed by, or provide
      service to, the Company. In addition, notwithstanding any other provisions
      of this Section 15, if the Company determines that the Holder has
      engaged in conduct that constitutes Cause at any time while the Holder is
      employed by, or providing service to, the Company or after the Holder's
      termination of employment or service, this Warrant shall immediately
      terminate, and the Holder shall automatically forfeit all Shares
      underlying any exercised portion of this Warrant for which the Company has
      not yet delivered the share certificates, upon refund by the Company of
      the Exercise Price paid by the Holder for such shares. Upon any exercise
      of this Warrant, the Company may withhold delivery of share certificates
      pending resolution of an inquiry that could lead to a finding resulting in
      forfeiture.

            

    

    

    
      	
               
      

            	
              (c)

            	
              In
      the event the Holder ceases to be employed by or provide service to the
      Company due to Disability or death, all Warrant Shares shall immediately
      become vested and exercisable. In the circumstance of death, this Warrant
      shall pass to the Holder’s estate.

            

    

    

    
      	
               
      

            	
              For purposes of this
      Section 15:

            

    

    

    
      	
               
      

            	
               (1)

            	
              "Employed
      by or provide service to the Company" shall mean employment or service as
      an employee, non-employee director, advisor or consultant (so that, for
      purposes of exercising this Warrant, the Holder shall not be considered to
      have terminated employment or service until the Holder ceases to be an
      employee, non-employee director, advisor or
  consultant).

            

    

     

    
      
        	
                 
      

              	
                 (2)

              	
                "Disability"
      shall mean permanent and total disability.  An individual is
      permanently and totally disabled if he is unable to engage in any
      substantial gainful activity by reason of any medically determinable
      physical or mental impairment which can be expected to result in death or
      which has lasted or can be expected to last for a continuous period of not
      less than 12 months.  An individual shall not be considered to be
      permanently and totally disabled unless he furnishes proof of the
      existence thereof in such form and manner, and at such times, as the Board
      may require.

              

      

       

    

    
      
        
           

        

        
          -
8 -

          
            

          

        

        
           

        

      

    

     

     

    
       

      
        	
                 
      

              	
                 (3)

              	
                "Cause"
      shall mean, except to the extent specified otherwise by the Company or its
      Board of Directors (the “Board”), a finding by the Company or Board that
      the Holder (i) has breached his or her employment or service contract
      with the Company, (ii) has engaged in disloyalty to the Company,
      including, without limitation, fraud, embezzlement, theft, commission of a
      felony or proven dishonesty in the course of his or her employment or
      service, (iii) has disclosed trade secrets or confidential
      information of the Company to persons not entitled to receive such
      information or (iv) has engaged in such other behavior detrimental to
      the interests of the Company as the Company or Board
      determine.

              

      

      

          16.   Miscellaneous
Provisions.

    

    

    
      	
               
      

            	
              (a)

            	
              Subject
      to the terms and conditions contained herein, this Warrant shall be
      binding on the Company and its successors and shall inure to the benefit
      of the original Holder, its successors and assigns and all holders of
      Shares and the exercise of this Warrant in full shall not terminate the
      provisions of this Warrant as it relates to holders of
    Shares.

            

    

    

    
      	
               
      

            	
              (b)

            	
              If
      the Company fails to perform any of its obligations hereunder, it shall be
      liable to the Holder for all damages, costs and expenses resulting from
      the failure, including, but not limited to, all reasonable attorney's fees
      and disbursements.

            

    

    

    
      	
               
      

            	
              (c)

            	
              This
      Warrant cannot be changed or terminated or any performance or condition
      waived in whole or in part except by an agreement in writing signed by the
      party against whom enforcement of the change, termination or waiver is
      sought.

            

    

    

    
      	
               
      

            	
              (d)

            	
              If
      any provision of this Warrant shall be held to be invalid, illegal or
      unenforceable, such provision shall be severed, enforced to the extent
      possible, or modified in such a way as to make it enforceable, and the
      invalidity, illegality or unenforceability shall not affect the remainder
      of this Warrant.

            

    

    

    
      	
               
      

            	
              (e)

            	
              The
      Company agrees to execute such further agreements, conveyances,
      certificates and other documents as may be reasonably requested by the
      Holder to effectuate the intent and provisions of this
      Warrant.

            

    

    

    
      	
               
      

            	
              (f)

            	
              Paragraph
      headings used in this Warrant are for convenience only and shall not be
      taken or construed to define or limit any of the terms or provisions of
      this Warrant.  Unless otherwise provided, or unless the context
      shall otherwise require, the use of the singular shall include the plural
      and the use of any gender shall include all
  genders.

            

    

    

    
      
        
           

        

        
          -
9 -

          
            

          

        

        
           

        

      

    

    

    

    
      	 
      	 
      	 
      	
              OMNI BIO PHARMACEUTICAL,
    INC.

            
	 
      	 
      	 
      	 
      	 
      
	
              ATTEST:

            	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      
	
              By

            	
              /s/
      Robert Ogden

            	 
      	
              By

            	
              /s/
      Vicki D.E. Barone

            
	 
      	
              Robert
      Ogden

            	 
      	 
      	
              Vicki
      D.E. Barone

            
	 
      	
              Secretary

            	 
      	 
      	
              Chairperson
      of the Board

            
	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      
	
              Date

            	 
      	 
      	
              Date

            	 
      

    

    

    
      
        
           

        

        
          -
10 -

          
            

          

        

        
           

        

      

    

    

    EXHIBIT
A

    

    NOTICE
OF EXERCISE

    

    (To be
executed by a Holder desiring to exercise the right to purchase Shares pursuant
to a Warrant.)

    

        The
undersigned Holder of a Warrant hereby:

    
      

      
        	 
      	
                (a) 
      irrevocably elects to exercise the Warrant to the extent of purchasing
      _______________ Shares;

              
	 
      	 
      
	 
      	
                 (b)  
      makes payment in full of
      the aggregate Exercise Price for those Shares in the amount of $
      by the delivery of
      immediately available funds in the amount of $ __________;

              
	 
      	 
      
	 
      	
                (c) 
      requests that certificates evidencing the securities underlying such
      Shares be issued in the name of the undersigned, or, if the name and
      address of some other person is specified below, in the name of such other
      person:

              
	 
      	
                 

              

        
          _______________________________________________

          

          _______________________________________________

           

          _______________________________________________

          (Name and
address of person other than
the

          undersigned
in whose name Shares are to be registered)

           

        

        	 
      	
                (d) 
      requests, if the number of Shares purchased are not all the Shares
      purchasable pursuant to the unexercised portion of the Warrant, that a new
      Warrant of like tenor for the remaining Shares purchasable pursuant to the
      Warrant be issued and delivered to the undersigned at the address stated
      below.

              

      

      

    

    

    
      	 
      	 
      	 
      	 
      
	
              Dated: __________________________________________                     

            	 
      	 
      	__________________________________________________________ 
      
	
               

            	 
      	 
      	
              Signature

            
	 
      	 
      	 
      	
              (This
      signature must conform in all respects 

              to
      the name of the Holder as specified on the 

              face
      of the Warrant.)

            
	 
      	 
      	 
      	 
      
	___________________________________________________ 
      	 
      	 
      	 
      
	
              Social
      Security Number

            	 
      	 
      	__________________________________________________________ 
      
	
              or
      Employer ID Number

            	 
      	 
      	
              Printed
      Name

            
	 
      	 
      	 
      	 
      
	
               

            	 
      	
              Address:

            	
               
      __________________________________________________________

               

               
      __________________________________________________________

            
	 
      	 
      	 
      	 
      

    

    

    
      
        
           

        

        
          -
11 -

          
            

          

        

        
           

        

      

    

    

    

    EXHIBIT
B

    

    ASSIGNMENT
FORM

    

    

    FOR VALUE
RECEIVED, the undersigned,  ____________________________________,
hereby sells, assigns and transfers unto:

    

    Name: ___________________________________________________                

    (Please type or print in block
letters)

    

    Address: _________________________________________________

     

           
_________________________________________________           

    

    

    Tax ID or
SSN:  ___________________________________________

    

    the right
to purchase  _______ Shares of Omni Bio Pharmaceutical, Inc. (the
"Company") pursuant to the terms and conditions of the Warrant held by the
undersigned.  The undersigned hereby authorizes and directs the
Company (i) to issue and deliver to the above-named assignee at the above
address a new Warrant pursuant to which the rights to purchase being assigned
may be exercised, and (ii) if there are rights to purchase Shares remaining
pursuant to the undersigned's Warrant after the assignment contemplated herein,
to issue and deliver to the undersigned at the address stated below a new
Warrant evidencing the right to purchase the number of Shares remaining after
issuance and delivery of the Warrant to the above-named
assignee.  Except for the number of Shares purchasable, the new
Warrants to be issued and delivered by the Company are to contain the same terms
and conditions as the undersigned's Warrant.  To complete the
assignment contemplated by this Assignment Form, the undersigned hereby
irrevocably constitutes and
appoints _________________________________________________________
as the
undersigned's attorney-in-fact to transfer the Warrants and the rights
thereunder on the books of the Company with full power of substitution for these
purposes.

    

    

    

    
      	
              Dated: _______________________________________ 

            	___________________________________________________________ 
      
	 
      	
              Signature

            
	 
      	
              (This
      signature must conform in all respects

            
	 
      	
               to
      the name of the Holder as specified on the

            
	 
      	
               face
      of the Warrant.)

            
	 
      	 
      
	 
      	 
      
	 
      	___________________________________________________________ 
      
	 
      	
              Printed
      Name

            
	 
      	 
      
	 
      	 
      
	 
      	
              Address: ___________________________________________________

            
	 
      	
               
      

              ___________________________________________________________ 
      

            

    

    

    

    
      
        
           

        

        
          -
12 -

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