Document:

Option Agreement

 Exhibit 10.2 
 COMPUCREDIT CORPORATION 
 NONQUALIFIED STOCK OPTION 
 COMMON STOCK 
 (No Par Value)

 STOCK OPTION PLAN: CompuCredit Corporation 2003 Stock Option Plan 
 OPTION FOR THE PURCHASE OF: 500,000 Shares 
 EXERCISE PRICE PER SHARE: $40.99 
 EFFECTIVE DATE OF GRANT: May 9, 2006 
 THIS OPTION
AGREEMENT, made and entered into this 9th day of May, 2006, by and between COMPUCREDIT CORPORATION, a Georgia corporation (“CompuCredit”), and RICHARD HOUSE (the “Grantee”); 
 W I T N E S S E T H: 
 WHEREAS, the
CompuCredit Corporation 2003 Stock Option Plan (the “Plan”) has been adopted by CompuCredit; and 
 WHEREAS, Article II of the Plan
authorizes the Compensation Committee (“Committee”) to cause CompuCredit to enter into a written agreement with the Grantee setting forth the form and the amount of any award and any conditions and restrictions of the award imposed by the
Plan and this Agreement; and 
 WHEREAS, the Committee desires to make an award to the Grantee consisting of a Nonqualified Stock Option.

 NOW, THEREFORE, in consideration of the mutual covenants contained herein, and other good and valuable consideration, including that
provided under any non-compete or similar agreement, the receipt and sufficiency of which are hereby acknowledged, CompuCredit and the Grantee hereby agree as follows: 
 1. General Definitions. Any capitalized terms herein shall have the meaning set forth in the Plan, and, in addition, for purposes of this Option Agreement, each of the following terms, when used herein, shall
have the meaning set forth below: 
 (a) “Cause” shall mean, unless otherwise defined in an individual employment agreement between
the Grantee and CompuCredit or any affiliate (in which case such employment agreement definition shall govern), (i) the conviction of the Grantee for any felony or any misdemeanor involving moral turpitude, (ii) the willful and continued
failure by the Grantee to substantially perform the Grantee’s duties, as they may be defined from time to time, with the 

 Grantee’s primary employer or to abide by the written policies of CompuCredit or the Grantee’s primary
employer, or (iii) the willful engaging by the Grantee in conduct which is demonstrably injurious to CompuCredit or any affiliate, monetarily or otherwise. 
 (b) “Code” shall mean the Internal Revenue Code of 1986, as amended. 
 (c) “Common
Stock” shall mean the common stock of CompuCredit, no par value per share. 
 (d) “CompuCredit” shall mean CompuCredit
Corporation. 
 (e) “Expiration Date” shall mean the date on which this Option expires pursuant to the provisions of paragraph 4
hereof. 
 (f) “Fair Market Value” of a share of Common Stock on a specified date shall mean: 
 (i) if the Common Stock is then traded on a national securities exchange, the closing price on such date of a share of the Common Stock as traded on the
largest securities exchange on which it is then traded; or 
 (ii) if the Common Stock is not then traded on a national securities exchange,
the average of the high and low prices for the Common Stock, as quoted on the Nasdaq National Market System (A) on such date, or (B) if no high and low prices are quoted on such date, then on the next preceding date on which such prices
are quoted; or 
 (iii) if the Common Stock is not then traded on a national securities exchange or quoted on the Nasdaq National Market
System, the value determined in good faith by the Committee. 
 (g) “Option” shall mean the option evidenced by this Option
Agreement, which is intended to be a “nonqualified stock option.” 
 (h) “Option Price” shall mean the purchase price of
each share of Common Stock that may be purchased by the Grantee upon the exercise of this Option, in whole or in part. The Option Price is set forth under “Exercise Price Per Share” on page 1 of this Option Agreement as adjusted from time
to time in accordance with the provisions hereof. 
 (i) “Vesting Date” shall mean the fifth anniversary of the Date of Grant. In
addition, until the date set forth above, and provided that the Grantee is either on the Board of Directors of CompuCredit (or one of its subsidiaries) or a full-time employee of CompuCredit (or one of its subsidiaries) at the time of a “change
in control,” any Options that theretofore have not vested shall immediately vest upon a “change in control.” For these purposes, a “change in control” shall mean the acquisition of 50% or more of the “beneficial
ownership” of the voting equity securities of CompuCredit (on a fully diluted as-converted basis) by any person or “group” (with 
  

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 the terms “beneficial ownership” and “group” having the meaning given to them for purposes of
Schedule 13D under the Securities Exchange Act of 1934) other than (i) Frank J. Hanna, III, David G. Hanna, their spouses, their descendants and the spouses of their descendants, (ii) trusts and other entities established generally for the
benefit of Frank J. Hanna, III, David G. Hanna, their spouses, their descendants and the spouses of their descendants, and/or (iii) charitable trusts, foundations or similar entities established by any of the foregoing. 
 2. Grant of Option. Upon the terms and subject to the conditions and limitations hereinafter set forth, the Grantee shall have the right, at any time after the
Vesting Date and on or before the Expiration Date, to purchase the number of shares of Common Stock set forth on page 1 of this Option Agreement and pursuant to the definition of Vesting Date, such number of shares and the Option Price being subject
to adjustment in accordance with the provisions set forth below and in accordance with the terms of the Plan. 
 3. Manner of Exercise. Subject to the
terms, conditions, and limitations set forth herein, this Option may be exercised in whole or in part at any time or from time to time after the Exercise Date and on or before the Expiration Date as to any part of the number of whole shares of
Common Stock then vested pursuant to the definition of Vesting Date and available under this Option. Such exercise shall be effective only if the Grantee duly executes and delivers to CompuCredit, at the principal executive office of CompuCredit or
at such other address as CompuCredit may designate by notice in writing to the Grantee, an option exercise form substantially the same as that attached hereto as Exhibit A, indicating the number of shares of Common Stock to be purchased and
accompanied by payment of the Option Price and any withholding amounts described below. Payment of the Option Price and any such withholding amounts may be made (i) in cash or its equivalent, (ii) by tendering previously acquired shares of
Common Stock having a Fair Market Value, at the time of exercise, equal to the total Option Price (provided that the shares tendered shall have been held by the Grantee for at least six months prior to their tender); or (iii) through a cashless
exercise procedure, as permitted under the Federal Reserve Board’s Regulation T, subject to applicable securities law restrictions and which the Committee determines to be consistent with the Plan’s purpose and applicable law. 

Upon any effective exercise of this Option, CompuCredit shall become obligated to issue a certificate or certificates to the Grantee representing the
number of shares of Common Stock so purchased. Notwithstanding the foregoing, no shares of Common Stock will be issued unless the Grantee (or his representative as the case may be) shall pay to CompuCredit or any affiliate, as applicable, such
amount as CompuCredit or any affiliate may advise it is required under applicable federal, state or local law to withhold and pay over to governmental taxing authorities by reason of the purchase of such shares of Common Stock pursuant to this
Option. No fractional shares will be issued. 
 4. Expiration of Option. This Option shall expire, shall become null and void, and shall be of no
further force and effect upon the earliest to occur of the following events: 
 (a) Two months after the date of the Grantee’s
resignation or other voluntary termination of his or her employment with CompuCredit or any of its affiliates (other than by 
  

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 reason of his or her death or “disability” within the meaning of Section 22(e)(3) of the Code), but during
such two month period the Option shall be exercisable only to the extent that it was exercisable as of the date of resignation or termination; 
 (b) Immediately upon the violation by the Grantee of a term or condition of any non-compete or similar such agreement entered into between the Grantee and CompuCredit, regardless of whether such agreement otherwise is enforceable;

 (c) Immediately upon the dismissal of the Grantee from his employment with CompuCredit or any affiliate for Cause at any time (a transfer
of the Grantee from CompuCredit to a subsidiary and vice versa shall not constitute a dismissal for these purposes); 
 (d) Two months after
the date on which CompuCredit or any affiliate terminates the Grantee’s employment for any reason other than Cause, provided, however, that during such two month period the Option shall continue to vest in accordance with the
vesting schedule set forth in the definition of Vesting Data; 
 (e) Six months after the date on which Grantee’s employment with
CompuCredit or any affiliate is terminated by reason of the Grantee’s death or “disability” within the meaning of Section 22(e)(3) of the Code, but during such six month period the Option shall be exercisable only to the extent
that it was exercisable as of the date of death or disability; or 
 (f) Seven years from the Date of Grant. 
 5. Exercise Subject to Compliance with Securities Laws. Notwithstanding the exercise of this Option, in whole or in part, in accordance with all other provisions
of this Option, CompuCredit shall have no obligation to honor such exercise and to issue Common Stock pursuant thereto unless (a) the Grantee furnishes CompuCredit an agreement in such form as the Committee may specify in which the Grantee (or
any person acting on his behalf) represents that the Common Stock acquired by him upon exercise are being acquired for investment and not with a view to the distribution thereof, or such other representations as may be required by the Committee in
accordance with the advice of legal counsel, unless the Committee shall have received advice from legal counsel that such representation is not required, and (b) such exercise and the issuance of the Common Stock does not violate applicable
securities law. 
 6. Adjustment of Option Price and Number of Shares That May be Purchased Hereunder. The Option Price and the number of shares of
Common Stock that may be purchased hereunder shall be subject to adjustment from time to time by the Committee in accordance with the terms of the Plan in the event of certain changes in the Common Stock or certain corporate transactions affecting
the number or value of the shares of Common Stock. 
 7. Notice of Adjustments. Upon the occurrence of any adjustment of the Option Price, or any
increase or decrease in the number of shares of Common Stock that may be purchased upon the exercise of this Option, then, and in each such case, CompuCredit, within 30 days thereafter, shall give written notice thereof to the Grantee at the address
of the Grantee as shown on the books of 
  

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 CompuCredit, which notice shall state the Option Price as adjusted and the increased or decreased number of shares that
may be purchased upon the exercise of this Option, setting forth in reasonable detail the method of calculation of each. 
 8. Assignment. This Option
may not be transferred or assigned by the Grantee otherwise than by will or by the laws of descent and distribution and, during the lifetime of the Grantee, may be exercised, in whole or in part, only by the Grantee; provided, however, subject to
paragraph 4(e) hereof, in the event of the Grantee’s death or disability, this Option may be exercised by his or her personal representative, heirs or legatees. 
 9. No Right to Continued Employment. This Option does not confer upon the Grantee the right to continued employment with CompuCredit or any affiliate, nor shall it interfere with the right of CompuCredit or any
affiliate to terminate his or her employment at any time. 
 10. Miscellaneous. 
 (a) CompuCredit covenants that it will at all times reserve and keep available, solely for the purpose of issue upon the exercise of this Option, a
sufficient number of shares of Common Stock to permit the exercise of this Option in full. 
 (b) The terms of this Option shall be binding
upon and shall inure to the benefit of any successors or assigns of CompuCredit and of the Grantee. 
 (c) The Grantee shall not be entitled
to vote or to receive dividends with respect to any Common Stock that may be, but has not been, purchased under this Option and shall not be deemed to be a shareholder of CompuCredit with respect to any such Common Stock for any purpose. 

(d) This Option has been issued pursuant to the Plan and shall be subject to, and governed by, the terms and provisions thereof. The Grantee hereby
agrees to be bound by all the terms and provisions of the Plan. In the event of any conflict between the terms of the Plan and this Option Agreement, the provisions of the Plan shall govern. 
 (e) This Option Agreement shall be governed by the laws of the State of Georgia. 
  

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 IN WITNESS WHEREOF, CompuCredit and the Grantee have executed this Option Agreement as of the day and
year first above written. 
  

			
	 COMPUCREDIT CORPORATION

		
	 By:
	 	 /s/ David G. Hanna
  

		
	 Its:
	 	 Chief Executive Officer
  

	
	 GRANTEE:

	
	 /s/ Richard R. House, Jr.
  

  
  

 6Fifth Amended Restricted Stock Grant Agreement

 Exhibit 10.16 
 FIFTH AMENDED RESTRICTED STOCK GRANT AGREEMENT 
 THIS FIFTH AMENDED RESTRICTED STOCK GRANT AGREEMENT
(the “Fifth Amended Agreement”) is made effective as of this 15th day of January 2006, between RASER
TECHNOLOGIES, INC. (“Company”) and JOHN RITTER, (“Employee”) (Employee and Company are sometimes referred to herein as the “Parties”). 
 RECITALS 
 WHEREAS, Company and Employee entered into a certain Restricted Stock Grant Agreement on
February 23, 2004 (the “Agreement”), an Amended Stock Grant Agreement on April 29, 2005 (the “Amended Agreement”), a Second Amended Agreement on July 1, 2005(the “Second Amended Agreement”), a Third
Amended Agreement on July 29, 2005(the “Third Amended Agreement”), and a Fourth Amended Agreement on October 10, 2005(the “Fourth Amended Agreement”), and the Parties now desire to further mutually amend the Agreement
as set forth below; 
 WHEREAS, Company and Employee desire to modify the Agreement and related Fourth Amended Agreement; and 
 NOW, THEREFORE, in view of the foregoing recitals which are incorporated as a part of this Fifth Amended Agreement, and in consideration of the terms and
conditions of this Fifth Amended Agreement, the receipt and sufficiency of which is hereby acknowledged, the parties agree as follows: 
  

	 	1.	Stock Vesting: The following stock grants represent all of the outstanding stock grant obligations from the Company to Employee as of the date of this Fifth Amended
Agreement: 250,000 net shares will vest on March 28, 2006. Net share is defined as issuance of common shares of the Company to the Employee, less the common shares, the value of which is equivalent to the withholding and payroll taxes that
Employee would otherwise be required to pay upon the receipt of the grant if not for the issuance of the Net Shares. In addition 187,500 shares will vest according to the attached Schedule A. For clarity, Employee will not receive 62,500 shares on
February 1, 2007. If a Secondary Public Offering is closed, Employee shall be entitled to sell in the Secondary Public Offering up to 300,000 shares. Company does not represent that such a Secondary Public Offering will be available through
which Employee can sell 300,000 shares. 

  

	 	2.	 Withholding Tax. Employee acknowledges and agrees that the Company has a withholding tax obligation on all shares issued to Employee. Employee acknowledges
and agrees that such withholding tax must be paid by Employee. Employee agrees to cooperate with the Company and remit an amount of money sufficient to pay for withholding taxes on all future issuances of shares, except for the issuance of 250,000
net shares. In conjunction with Employee’s receipt of 250,000 net shares on March 28, 2006, Company will pay for an independent valuation of shares to facilitate a withholding tax calculation. The Company will not represent or warrant the
accuracy of the independent valuation of the shares to Employee. However, the Company will agree to pay interest and penalties should the valuation be challenged and overturned by a taxing authority. For clarification, Employee may be required to
pay any valuation difference should the independent valuation be challenged and overturned by a taxing authority. Company will provide 

  

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to Employee a valuation of shares originally granted to Employee in 2004 for which Employee filed an 83(b) election. 

  

	 	3.	Stock Sale Restrictions. In consideration of the Employee’s reduction in responsibilities, duties, and hours and for other good and valuable consideration, the receipt
and sufficiency of which are hereby acknowledged, Employee agrees to restrict Employee’s sales of common shares of Company as set forth below. Employee shall sell no more than 15% of the daily trading volume of the day in which the sales occur,
provided however, that Employee shall not exceed 12% of the total trading volume of the calendar month in which sales occur (the “Restrictions”). 

  

	 	4.	Employee Release of All Claims. In consideration for reduction in responsibilities, duties, and hours and for other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, Employee, for himself and for his heirs, assigns, and all persons and entities claiming by, through, or under him, hereby irrevocably, unconditionally, and completely releases, discharges, and agrees to
hold Company, its officers, directors, shareholders, employees, and/or agents of Company; and/or any subsidiary, division, or affiliate of Company including without limitation any officer, director, shareholder, employee, and/or agent of any such
subsidiary, division, or affiliate individually or in any combination thereof (hereinafter referred to as “Releasees”), harmless of and from any and all claims, liabilities, charges, demands, grievances, and causes of action of any kind or
nature whatsoever, including without limitation claims for contribution, subrogation, or indemnification, whether direct or indirect, liquidated or unliquidated, known or unknown, which Employee had, has, or may claim to have against Releasees
(hereinafter collectively referred to as “Claim(s)”). 

 The release, discharge, and agreement to hold
harmless set forth in this paragraph 4 includes without limitation any Claim(s) that Employee has, had, or may claim to have against Releasees: (a) for wrongful termination or discharge, negligent or intentional infliction of emotional
distress, breach of express or implied contract of employment, termination in violation of public policy, defamation, employment-related torts, or personal injury (whether physical or mental); (b) for any Claim(s) arising under federal, state,
or local law, including without limitation Title VII of the Civil Rights Act of 1964, the Utah Antidiscrimination Act, or any other federal, state, or local law prohibiting discrimination on the basis of race, color, religion, sex, age, national
origin, disability, or any other protected group status; (c) for any Claim(s) arising under the Age Discrimination in Employment Act, which prohibits discrimination against employees age 40 and above; (d) for any Claim(s) arising under the
Employee Retirement Income Security Act (ERISA); (e) for any Claim(s) arising under the Family and Medical Leave Act; (f) for any Claim(s) for attorney’s fees and/or costs; and (g) for any other Claim(s) in any way related to or
arising out of Employee’s employment with Company. 
  

	 	5.	Wages and Commissions Paid in Full. Company acknowledges that Employee has effectively terminated participation in Company affairs as of January 15, 2006, but will
continue to receive Employee’s base salary of $5,000 per month through March 31, 2006. Employee acknowledges that upon payment of salary through March 31, 2006, and upon receipt of the stock compensation set forth above, Employee
shall have received all compensation due and owing to Employee from Company, including without limitation any monies due and owing to him for wages, accrued but unused vacation benefits, commissions, or otherwise and that he has no claim against
Company whatsoever for the payment of any further wages, commissions, vacation benefits, or other monies except as specifically set forth herein. 

  

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	 	6.	Release of Claims by the Company. The Company does hereby for itself and its officers, directors, employees, administrators, attorneys, agents, subsidiaries, predecessor and
successor corporations, affiliates, and assigns, fully and forever release and absolutely discharge Employee from, and agrees not to sue concerning any and all claims, liabilities, charges, demands, grievances, and causes of action of any kind or
nature whatsoever, including without limitation claims for contribution, negligence, subrogation, or indemnification, whether direct or indirect, liquidated or unliquidated, known or unknown, which Employee had, has, or may claim to have against,
any claim, demand, duty, debt, liability, account, reckoning, obligation, cost, expense, lien, attorneys’ fee, action or cause of action arising out Employee’s employment with Company. For clarification, that certain Indemnification
Agreement between Company and Employee shall survive this Fifth Amended Agreement. 

  

	 	7.	Release of Unknown Claims. In connection with such release of claims pursuant to paragraph 4 through 6, and subject to the limitations of this Agreement, each of the Parties
acknowledges that it is aware that its attorneys may hereafter discover claims or facts in addition to or different from those which it now knows or believes to exist with respect to the subject matter of this Agreement, but that it is its intention
that such Party releases, pursuant to paragraphs 4 through 6, and subject to the limitations of this Agreement, respectively, the claims, complaints, disputes and differences, known or unknown, suspected or unsuspected, which now exist or may exist,
between the Parties. Each of the Parties acknowledges and, pursuant to paragraphs 4 through 6, and subject to the limitations of this Agreement, respectively, waives and relinquishes any right or benefit which it has or may have under any provision
of the statutory, non-statutory law, or common law of any applicable jurisdiction to the full extent that it may lawfully waive all such rights and benefits pertaining to the subject matter of this Agreement. 

  

	 	6.	No Future Claims. The Parties represent that they have no lawsuits, claims, complaints or actions pending in their names, or on behalf of any other person or entity, against
another Party or any other person or entity referred to herein in any court, whether federal or in any state, or before any government agency or entity. Employee and the Company also represent that they do not intend to bring or to participate in
any way in the bringing of any civil or criminal claims on behalf of themselves or on behalf of any other person or entity against the other or any person or entity referred to herein. 

  

	 	7.	Nondisparagement. Employee and Company agree to use commercially reasonable efforts to refrain from defaming one another in public statements to third parties. With respect
to Employee’s obligations, such reasonable efforts include any discussion about the merits of Company’s technology, management, employees, public market, processes and procedures, Confidential Information, or any other statement that may
be construed to in any way, intentionally or unintentionally negatively impact the reputation of Company. With respect to Company’s obligations, such reasonable efforts include any discussion about the merits of Employee’s management
efforts and abilities, or any other statement that may be construed to in any way, intentionally or unintentionally negatively impact the reputation of Employee. Company and Employee shall be entitled to injunctive relief if Company or Employee
violate this provision as damages may not be a sufficient remedy. 

  

	 	8.	 Conflicting Terms. All other provisions of the Agreement, First Amended Agreement, Second Amended Agreement, Third Amended Agreement, and Fourth
Amended Agreement shall remain in full force and effect. HOWEVER, to the extent any provisions of the Agreement, First 

  

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Amended Agreement, Second Amended Agreement, Third Amended Agreement, and Fourth Amended Agreement conflict with the provisions of this Fifth Amended
Agreement, this Fifth Amended Agreement shall govern. 

 IN WITNESS WHEREOF, Company and Employee have executed this Fifth
Amended Agreement effective as of the date first set forth above. 
  

									
		 	 COMPANY:
	 		 	 EMPLOYEE:

				
		 	 RASER TECHNOLOGIES, INC.
	 		 	
					
		 	 /s/ Brent M. Cook
	 		 		 	 /s/ John C. Ritter

					
	 By
	 	 Brent M. Cook
	 		 	 By
	 	 John C. Ritter

	 Its:
	 	 Chief Executive Officer
	 		 		 	

  

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 Schedule A 
  

			
	 Vesting Date
	  	Shares
	 Wednesday, May 03, 2006
	  	6,250
	 Wednesday, May 10, 2006
	  	6,250
	 Wednesday, May 17, 2006
	  	6,250
	 Wednesday, May 24, 2006
	  	6,250
	 Wednesday, May 31, 2006
	  	6,250
	 Wednesday, June 07, 2006
	  	6,250
	 Wednesday, June 14, 2006
	  	6,250
	 Wednesday, June 21, 2006
	  	6,250
	 Wednesday, June 28, 2006
	  	6,250
	 Wednesday, July 05, 2006
	  	—  
	 Wednesday, July 12, 2006
	  	6,250
	 Wednesday, July 19, 2006
	  	6,250
	 Wednesday, July 26, 2006
	  	6,250
	 Wednesday, August 02, 2006
	  	6,250
	 Wednesday, August 09, 2006
	  	6,250
	 Wednesday, August 16, 2006
	  	6,250
	 Wednesday, August 23, 2006
	  	6,250
	 Wednesday, August 30, 2006
	  	6,250
	 Wednesday, September 06, 2006
	  	6,250
	 Wednesday, September 13, 2006
	  	6,250
	 Wednesday, September 20, 2006
	  	6,250
	 Wednesday, September 27, 2006
	  	6,250
	 Wednesday, October 04, 2006
	  	6,250
	 Wednesday, October 11, 2006
	  	6,250
	 Wednesday, October 18, 2006
	  	6,250
	 Wednesday, October 25, 2006
	  	6,250
	 Wednesday, November 01, 2006
	  	6,250
	 Wednesday, November 08, 2006
	  	6,250
	 Wednesday, November 15, 2006
	  	6,250
	 Wednesday, November 22, 2006
	  	—  
	 Wednesday, November 29, 2006
	  	6,250
	 Wednesday, December 06, 2006
	  	6,250
	 Wednesday, December 13, 2006
	  	
	 Wednesday, December 20, 2006
	  	
		  	 
	 Total
	  	187,500
		  	 

  

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