Document:

Unassociated Document

    Incentive
      Stock Option Agreement

    

     

    December
      12, 2006

     

    David
      Gagne

    2142
      Overland Ave.

    Los
      Angeles, California 90025

    

     

    Dear
      Mr.
      Gagne:

     

    I
      am
      pleased to inform you that InfoSearch Media, Inc. (the “Company”) has granted
      you incentive
      stock options
      to
      purchase shares of the Company’s common stock as set forth below.

     

    The
      grant
      of this option is made pursuant to the MAC Worldwide, Inc. (predecessor to
      the
      Company) 2004 Stock Option Plan (the “Plan”), as amended as of December 12,
      2006. This Stock Option is intended to qualify as an “incentive stock option”
under Section 422 of the Internal Revenue Code of 1986, as amended. The terms
      of
      the Plan are incorporated into this letter and in the case of any conflict
      between the Plan and this letter, the terms of the Plan shall control. Unless
      otherwise noted, capitalized terms shall have the meaning assigned to them
      in
      the Plan.

     

    Now,
      therefore, in consideration of the foregoing and the mutual covenants
      hereinafter set forth:

     

    1. Incentive
      Stock Option.
      The
      Company hereby grants you an incentive stock option (“ISO”) to purchase from the
      Company 100,000 shares of Company common stock (“Company Stock”) at a price of
      $0.17 per share. The Date of Grant is December 12, 2006. Unless earlier
      exercised or terminated in accordance with the terms hereunder and in the Plan,
      this ISO will expire on the date that is the 10th year anniversary
      of the Date of Grant.

     

    2. Entitlement
      to Exercise the ISO.
      The
      grant of the ISO is subject to the following terms and conditions:

     

    (a) The
      ISO
      shall vest and be exercisable with 2,099 shares vesting in the first month
      and
      equal monthly installments of 2,083 shares over each of your following 47 months
      of service with the Company.

     

    The
      ISO
      shall cease to vest as of the date of termination of your employment for any
      reason.
       

     

    (b) If
      you
      die when any portion of the ISO is exercisable, then the person to whom your
      rights under the ISO shall have passed by will or by the laws of distribution
      may exercise any of the exercisable portion of the ISO within one (1) year
      after
      your death, provided
      that no ISO may be exercised in any event more than 10 years after the Date
      of
      Grant.

     

    4. Method
      of Exercise & Payment Under ISO.
      You may
      exercise the vested portion of the ISO in whole or in part, by giving written
      notice to the Company which shall state the election to exercise the ISO and
      the
      number of shares of Company Stock with respect to which the ISO is being
      exercised. The written notice shall be signed by the person exercising the
      ISO,
      shall be delivered to the Corporate Secretary of the Company at the Company’s
      principal executive office, and shall be accompanied by payment in full of
      the
      exercise price for the shares of Company Stock being purchased, by delivery
      of
      cash or check. 

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    5. Tax
      Withholding.
      As a
      condition of exercise, you agree that at the time of exercise that you will
      pay
      to the Company the Applicable Withholding Taxes, if any, that the Company is
      required to withhold in connection with the exercise of the ISO. To satisfy
      the
      Applicable Withholding Taxes, you may elect to (i) make cash payment or
      authorize additional withholding from cash compensation, (ii) deliver Mature
      Shares (valued at their Fair Market Value) or (iii) have the Company retain
      that
      number of shares of Company Stock that would satisfy all or a portion of the
      Applicable Withholding Taxes. 

     

    6. Transferability
      of ISO.
      The ISO
      is not transferable by you (other than by will or by the laws of descent and
      distribution) and may be exercised during your lifetime only by
      you.

     

    7. Termination
      of ISO.
      In the
      event that your employment or other relationship underlying the issuance of
      this
      ISO is terminated for Cause, your vested and non-vested ISO rights shall be
      forfeited and terminated immediately and may not thereafter be exercised to
      any
      extent. 

     

    In
      the
      event that your employment or other relationship underlying the issuance of
      this
      ISO is terminated by you or the Company for any reason other than Cause or
      your
      death, you shall have the right to exercise the portion of the ISO that has
      vested as of the date of such termination at any time during the ninety (90)
      day
      period following the date of such termination, and not thereafter, provided
      that
      no ISO may be exercised in any event more than ten (10) years after the Date
      of
      Grant.

     

    8. Adjustments.
      If the
      number of outstanding shares of Company Stock is increased or decreased as
      a
      result of one or more stock splits, reverse stock splits, stock dividends,
      recapitalizations, mergers, share exchange acquisitions, combinations or
      reclassifications, the number of shares with respect to which you have an
      unexercised ISO and the ISO price shall be appropriately adjusted as provided
      in
      the Plan.

     

    9. Delivery
      of Certificate.
      The
      Company may delay delivery of the certificate for shares purchased pursuant
      to
      the exercise of an ISO until (i) receipt of any required representation by
      you
      or completion of any registration or other qualification of such shares under
      any state or federal law regulation that the Company’s counsel shall determine
      as necessary or advisable, and (ii) receipt by the Company of advice by counsel
      that all applicable legal requirements have been complied with. As a condition
      of exercising the ISO, you may be required to execute a customary written
      indication of your investment intent and such other agreements the Company
      deems
      necessary or appropriate to comply with applicable securities laws.

     

    10. No
      Guaranteed Right of Employment.
      If you
      are employed by the Company, nothing contained herein shall confer upon you
      any
      right to be continued in the employment of the Company or interfere in any
      way
      with the right of the Company to terminate your employment at any time for
      any
      cause.

     

    11. Notice
      of Disqualifying Dispositions.
      You
      agree to notify the Company in writing immediately after you make a disposition
      of any shares acquired upon exercise of this ISO if such disposition occurs
      before the later of (a) the date that is two years after the Date of Grant,
      or
      (b) the date that is one year after the date that you acquired such shares
      upon
      exercise of this ISO.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    12. Notices.
      Notices
      hereunder shall be mailed or delivered to the Company at its principal place
      of
      business, and shall be delivered to you in person or mailed or delivered to
      you
      at the address set forth below, or in either case at such other address as
      one
      party may subsequently furnish to the other party in writing. 

    

    13. Choice
      of Law.
      This
      Agreement shall be governed by Delaware law, without giving effect to the
      conflicts of laws provisions thereof.

    
      	 	 	 
	 	INFOSEARCH
              MEDIA,
              INC.
	 
 	 
 	 
 
	 	By:  	//s/
              Frank Knuettel
              II                       
              
	 	By: Frank Knuettel II
	 	Title:
              Chief Financial Officer

    

    ACKNOWLEDGEMENT
      BY OPTIONEE

    

    The
      foregoing ISO is hereby accepted and the terms and conditions thereof hereby
      agreed to by the undersigned as of the Date of Grant specified
      above.

    

    
      	 	OPTIONEE 
	 	David Gagne 
	 	 
	 	____________________________ 
	 	Optionee’s Signature 
	 	 
	 	Optionee’s Address: 
	 	____________________________ 
	 	____________________________ 
	 	____________________________UNIT
      PURCHASE AGREEMENT

    

    
      	
              1.

            	
              SUBSCRIPTION:
                The undersigned, __________, (the "Subscriber"), in consideration
                of US
                $0.50 per Unit, hereby purchases ___________ (_______) Units of RANCHER
                ENERGY CORP., a Nevada corporation (the "Company"). Each Unit consists
                of
                one share of common stock and one redeemable stock purchase warrant
                (the
                "Warrant"). Each Warrant is exercisable for a period of two (2) years
                from
                the date of this Unit Purchase Agreement at an exercise price of
                $0.75 per
                share for the first year and $1.00 for the second year. The Warrant
                is
                redeemable by the Company without consideration upon thirty (30)
                days
                notice to the Subscriber. This agreement is subject to the following
                terms
                and conditions:

            

    

    

    
      	 	
              a.

            	
              No
                certificates for Shares shall be issued to the undersigned until
                the
                entire consideration is received by the
                Company.

            

    

    

    
      	 	
              b.

            	
              The
                shares of common stock which are part of the Unit and underlie the
                Warrant, as well as the Warrant, represented by this certificate
                must be
                held for a period of at least one (1) year from the date of issuance
                and
                are deemed “restricted securities” as that term is defined in Rule 144 of
                the Securities Act of 1933. The Shares may only be resold in compliance
                with Regulation S of the Securities Act of 1933 (Regs.
                901-905).

            

    

    

    
      	 	
              c.

            	
              The
                parties hereto are relying exclusively upon Regulation S of the Securities
                Act of 1933 (Regs. 901-905) for the offer and sale of the
                Shares.

            

    

    

    
      	
              2.

            	
              REPRESENTATIONS
                AND WARRANTIES:
                The undersigned Subscriber hereby represents and warrants to the
                Company:

            

    

    

    
      	 	
              a.

            	
              The
                undersigned Subscriber understands that the Company's UNITS HAVE
                NOT BEEN
                APPROVED OR DISAPPROVED BY THE UNITED STATES SECURITIES AND EXCHANGE
                COMMISSION OR ANY STATE SECURITIES AGENCIES AND NO REGISTRATION STATEMENT
                HAS BEEN FILED WITH ANY REGULATORY
                AGENCY.

            

    

    

    
      	 	
              b.

            	
              The
                undersigned Subscriber is not an underwriter and would be acquiring
                the
                Company's Units solely for investment for his or her own account
                and not
                with a view to, or for, resale in connection with any distribution
                with in
                the meaning of the federal securities act, the state securities acts
                or
                any other applicable state securities
                acts.

            

    

    

    
      	 	
              c.

            	
              The
                undersigned Subscriber is not a person in the United States of America
                and
                at the time the buy order was originated, the Subscriber was outside
                the
                United States of America. The undersigned Subscriber is not a citizen
                of
                the United States (a U.S. Person) as that term is defined in Reg.
                S of the
                Securities Act of 1933 and was not formed
                by a U. S. person principally for the purpose of investing in securities
                not registered under the Securities Act of
                1933.

            

    

    
    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	 	
              d.

            	
              The
                undersigned Subscriber understands the speculative nature and risks
                of
                investments associated with the Company, and confirms that the Units
                would
                be suitable and consistent with his or her investment program and
                that his
                or her financial position enable him or her to bear the risks of
                this
                investment.

            

    

    

    
      	 	
              e.

            	
              To
                the extent that any federal, and/or state securities laws shall require,
                the Subscriber hereby agrees that any securities acquired pursuant
                to this
                Agreement shall be without preference as to
                assets.

            

    

    

    
      	 	
              f.

            	
              The
                certificates for shares which are part of the Unit, the Warrants
                and the
                shares of common stock underling the Warrants will contain a legend
                that
                transfer is prohibited except in accordance with the provisions of
                Regulation S.

            

    

    

    
      	 	
              g.

            	
              The
                Subscriber has had the opportunity to ask questions of the Company
                and has
                received all information from the Company to the extent that the
                Company
                possessed such information, necessary to evaluate the merits and
                risks of
                any investment in the Company. Further, the Subscriber acknowledges
                receipt of: (1) all material books, records and financial statements
                of
                the Company; (2) all material contracts and documents relating to
                the
                proposed transaction; (3) all information required to be contained
                in a
                registration statement filed in accordance with the rules and regulations
                of the United States Securities and Exchange Commission; and,. (4)
                an
                opportunity to question the appropriate executive
                officers.

            

    

    

    
      	 	
              h.

            	
              The
                Subscriber has satisfied the suitability standards and securities
                laws
                imposed by government of
                ___________.

            

    

    

    
      	 	
              i.

            	
              The
                Subscriber has adequate means of providing for his current needs
                and
                personal contingencies and has no need to sell the Units in the
                foreseeable future (that is at the time of the investment, Subscriber
                can
                afford to hold the investment for an indefinite period of
                time).

            

    

    

    
      	 	
              j.

            	
              The
                Subscriber has sufficient knowledge and experience in financial matters
                to
                evaluate the merits and risks of this investment and further, the
                Subscriber is capable of reading and interpreting financial statements.
                Further, Subscriber is a “sophisticated\ investor” as that term is defined
                in applicable court cases and the rules, regulations and decisions
                of the
                United States Securities and Exchange
                Commission.

            

    

    

    
      	 	
              k.

            	
              The
                offer and sale of the Units referred to herein is being made outside
                the
                United States within the meaning of and in full compliance with Regulation
                S.

            

    

    

    
      	 	
              l.

            	
              The
                Subscriber is not a U. S. person within the meaning of Regulation
                S and is
                not acquiring the Units for the account or benefit of any U. S.
                person.

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	 	
              m.

            	
              The
                Subscriber agrees to resell the Units, shares of common stock, Warrants,
                and shares of common stock underlying the Warrants only in accordance
                with
                the provisions of Regulation S, pursuant to registration under the
                Securities Act of 1933, as amended, or pursuant to an available exemption
                from registration.

            

    

    

    
      	
              3.

            	
              REGISTRATION:
                The Company agrees to file a registration statement with the United
                States
                Securities and Exchange Commission registering the Units, shares
                comprising the Units, Warrants, and shares of common stock underlying
                the
                Warrants within ninety (90) days from the date of this Unit Purchase
                Agreement.

            

    

    

    
      	
              4.

            	
              MISCELLANEOUS:
                This Unit Purchase Agreement shall be binding upon the parties hereto,
                their heirs, executors, successors, and legal representatives. The
                law of
                the state of Nevada, United States of America shall govern the rights
                of
                the parties to this Agreement and the exclusive jurisdiction and
                venue of
                any action brought in connection with this agreement will be the
                federal
                and/or state courts of the State of
                Nevada.

            

    

    

    The
      undersigned Subscriber hereby declares and affirms that he/she/they have read
      the within and foregoing Stock Purchase Agreement, is familiar with the contents
      thereof and agrees to abide by the terms and conditions set forth therein,
      and
      knows the statements therein to be true and correct.

    

    IN
      WITNESS WHEREOF, the parties have executed this Unit Purchase Agreement this
      day
      of ________, 200_ at ________.

    
      	 	 	 
	 	 	SUBSCRIBER(S):
	 
 	 
 	 
 
	 	 	
              
                

              

               

               

            
	 	
              
 (Additional
              Party if necessary)
	 	 
	 	
              
                
 Address

            
	 	 
	 	
              
 
	 	 
	 	
              
 Area
              Code and Telephone
              Number

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