Document:

EXHIBIT 10.3

 

NEXEON MEDSYSTEMS INC

2016 Omnibus Incentive Plan

Stock Option Award Agreement

Nexeon MedSystems
Inc (the “Company”), pursuant to its 2016 Omnibus Incentive Plan (the “Plan”), hereby grants
an Option to purchase shares of the Company’s common stock to you, the Participant named below. The terms and conditions
of the Option Award are set forth in this Agreement, consisting of this cover page and the Option Terms and Conditions on the following
pages, and in the Plan document, a copy of which has been provided to you. Any capitalized term that is not defined in this Agreement
shall have the meaning set forth in the Plan as it currently exists or as it is amended in the future.

	Name
    of Participant:     Daniel Powell
	No. of Shares Covered:      220,000	Grant
    Date:      June 26, 2017
	Exercise Price Per Share:       $1.25 PER OPTION	Expiration Date:     Each Option shall expire 36 months from date of Vesting.
	Vesting
    and Exercise Schedule: The Options are nontransferable and can be exercised at any time following the date of Vesting. The
    Options shall vest at the rate of 6,111 Options per month for a period of 35 months and 6,115 Options shall vest in the 36th
    month. Vesting shall commence on the first day of the month following the Grant Date shown herein above. Effective with the
    date that Participant ceases to be an Employee of the Company, or one if its subsidiaries, all unvested Options shall expire
    and be of no further force of effect.
	 	 
	 	 

By signing below
or otherwise evidencing your acceptance of this Agreement in a manner approved by the Company, you agree to all of the terms and
conditions contained in this Agreement and in the Plan document. You acknowledge that you have received and reviewed these documents
and that they set forth the entire agreement between you and the Company regarding your right to purchase shares of the Company’s
common stock pursuant to this Option.

 

	PARTICIPANT:	 	NEXEON MEDSYSTEMS, INC.
	 	 	 
	 	 	 
	/s/ Daniel Powell	 	By: 	/s/ William Rosellini
	Name: Daniel Powell	 	 	William Rosellini, CEO
	 	 	 	 

 

 

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NEXEON MEDSYSTEMS INC

2016 Omnibus Incentive Plan

Option Terms and Conditions

 

 

		1.	Incentive Stock Option. This Option is intended to be an “incentive stock option”
within the meaning of Section 422 of the Internal Revenue Code of 1986, as amended (the “Code”), and will
be interpreted accordingly. To the extent that, for any reason, the Option does not qualify as an incentive stock option under
Code Section 422, the Option will be treated as a non-statutory stock option, subject to the tax consequences applicable to such
options.

 

		2.	Vesting and Exercisability of Option.

 

(a)       Scheduled
Vesting. This Option will vest and become exercisable as to the number of Shares and on the dates specified in the Vesting
and Exercise Schedule on the cover page to this Agreement, so long as your Service to the Company does not end. The Vesting and
Exercise Schedule is cumulative, meaning that to the extent the Option has not already been exercised and has not expired or been
terminated or cancelled, you or the person otherwise entitled to exercise the Option as provided in this Agreement may at any time
purchase all or any portion of the Shares subject to the vested portion of the Option.

 

(b)       Accelerated
Vesting. Notwithstanding Section 2(a), if and to the extent this Option is continued, assumed or replaced in connection with
a Change in Control, and if within one year after such Change in Control you experience an involuntary termination of Service for
reasons other than Cause, then this Option (or any replacement award) shall immediately vest and become exercisable in full and
shall remain exercisable for one year following your termination of Service. In addition, vesting and exercisability of this Option
may be accelerated during the term of the Option under the circumstances described in Sections 12(b) and 12(c) of the Plan, and
at the discretion of the Committee in accordance with Section 3(b)(2) of the Plan.

 

		3.	Expiration. This Option will expire and will no longer be exercisable at 5:00 p.m.
Central Time on the earliest of:

 

		(a)	the expiration date specified on the cover page of this Agreement;

 

		(b)	upon your termination of Service for Cause;

 

		(c)	upon the expiration of any applicable period specified in Section 6(e) of the Plan or Section 2
of this Agreement during which this Option may be exercised after your termination of Service; or

 

		(d)	the date (if any) fixed for termination or cancellation of this Option pursuant to Section 12 of
the Plan.

 

		4.	Service Requirement. Except as otherwise provided in Section 6(e) of the Plan or
Section 2 of this Agreement, this Option may be exercised only while you continue to provide Service to the Company or any Affiliate,
and only if you have continuously provided such Service since the Grant Date of this Option.

 

		5.	Exercise of Option. Subject to Section 4, the vested and exercisable portion of this
Option may be exercised in whole or in part at any time during the Option term by delivering a written notice of exercise to the
Company’s Chief Financial Officer or to such other party as may be designated by such officer, and by providing for payment
of the exercise price of the Shares being acquired and any related withholding taxes. The notice of exercise must be in a form
approved by the Company and state the number of Shares to be purchased, the method of payment of the aggregate exercise price and
the directions for the delivery of the Shares to be acquired, and must be signed or otherwise authenticated by the person exercising
the Option. If you are not the person exercising the Option, the person submitting the notice also must submit appropriate proof
of his/her right to exercise the Option.

 

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		6.	Payment of Exercise Price. When you submit your notice of exercise, you must include
payment of the exercise price of the Shares being purchased through one or a combination of the following methods:

 

		(a)	cash (including personal check, cashier’s check or money order);

 

		(b)	by means of a broker-assisted cashless exercise in which you irrevocably instruct your broker to
deliver proceeds of a sale of all or a portion of the Shares to be issued pursuant to the exercise to the Company in payment of
the exercise price of such Shares; or

 

		(c)	by delivery to the Company of Shares (by actual delivery or attestation of ownership in a form
approved by the Company) already owned by you that are not subject to any security interest and that have an aggregate Fair Market
Value on the date of exercise equal to the exercise price of the Shares being purchased.

 

However, if the Committee determines,
in any given circumstance, that payment of the exercise price with Shares is undesirable for any reason, you will not be permitted
to pay any portion of the exercise price in that manner.

 

		7.	Tax Consequences. You hereby acknowledge that if any Shares received pursuant to
the exercise of any portion of this Option are sold within two years from the Grant Date or within one year from the effective
date of exercise of this Option, or if certain other requirements of the Code are not satisfied, such Shares will be deemed under
the Code not to have been acquired by you pursuant to an “incentive stock option” as defined in the Code. You agree
to promptly notify the Company if you sell any Shares received upon the exercise of this Option within the time periods specified
in the previous sentence. The Company shall not be liable to you if this Option for any reason is deemed not to be an “incentive
stock option” within the meaning of the Code.

 

		8.	Delivery of Shares. As soon as practicable after the Company receives the notice
of exercise and payment of the exercise price as provided above, and has determined that all other conditions to exercise, including
compliance with applicable laws as provided in Section 18(c) of the Plan, have been satisfied, it shall deliver to the person exercising
the Option, in the name of such person, the Shares being purchased, as evidenced by issuance of a stock certificate or certificates,
electronic delivery of such Shares to a brokerage account designated by such person, or book-entry registration of such Shares
with the Company’s transfer agent. The Company shall pay any original issue or transfer taxes with respect to the issue or
transfer of the Shares and all fees and expenses incurred by it in connection therewith. All Shares so issued shall be fully paid
and nonassessable.

 

		9.	Transfer of Option. During your lifetime, only you (or your guardian or legal representative
in the event of legal incapacity) may exercise this Option. You may not assign or transfer this Option except for a transfer upon
your death in accordance with your will, by the laws of descent and distribution or pursuant to a beneficiary designation submitted
in accordance with Section 6(d) of the Plan. The Option held by any such transferee will continue to be subject to the same terms
and conditions that were applicable to the Option immediately prior to its transfer and may be exercised by such transferee as
and to the extent that the Option has become exercisable and has not terminated in accordance with the provisions of the Plan and
this Agreement.

 

		10.	No Stockholder Rights Before Exercise. Neither you nor any permitted transferee of
this Option will have any of the rights of a stockholder of the Company with respect to any Shares subject to this Option until
a certificate evidencing such Shares has been issued, electronic delivery of such Shares has been made to your designated brokerage
account, or an appropriate book entry in the Company’s stock register has been made. No adjustments shall be made for dividends
or other rights if the applicable record date occurs before your stock certificate has been issued, electronic delivery of your
Shares has been made to your designated brokerage account, or an appropriate book entry in the Company's stock register has been
made, except as otherwise described in the Plan.

 

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		11.	Governing Plan Document. This Agreement and Option are subject to all the provisions
of the Plan, and to all interpretations, rules and regulations which may, from time to time, be adopted and promulgated by the
Committee pursuant to the Plan. If there is any conflict between the provisions of this Agreement and the Plan, the provisions
of the Plan will govern.

 

		12.	Choice of Law. This Agreement will be interpreted and enforced under the laws of
the state of Nevada (without regard to its conflicts or choice of law principles).

 

		13.	Binding Effect. This Agreement will be binding in all respects on your heirs, representatives,
successors and assigns, and on the successors and assigns of the Company.

 

		14.	Other Agreements. You agree that in connection with the exercise of this Option,
you will execute such documents as may be necessary to become a party to any stockholder, voting or similar agreements as the Company
may require.

 

		15.	Restrictive Legends. The Company may place a legend or legends on any certificate
representing Shares issued upon the exercise of this Option summarizing transfer and other restrictions to which the Shares may
be subject under applicable securities laws, other provisions of this Agreement, or other agreements contemplated by Section 14
of this Agreement. You agree that in order to ensure compliance with the restrictions referred to in this Agreement, the Company
may issue appropriate “stop transfer” instructions to its transfer agent.

 

		16.	Compensation Recovery Policy. To the extent that any compensation paid or payable
pursuant to this Agreement is considered “incentive-based compensation” within the meaning and subject to the requirements
of Section 10D of the Exchange Act, such compensation shall be subject to potential forfeiture or recovery by the Company in accordance
with any compensation recovery policy adopted by the Board of Directors of the Company or any committee thereof in response to
the requirements of Section 10D of the Exchange Act and any implementing rules and regulations thereunder adopted by the Securities
and Exchange Commission or any national securities exchange on which the Company’s common stock is then listed. This Agreement
may be unilaterally amended by the Company to comply with any such compensation recovery policy. 

 

		17.	Electronic Delivery and Acceptance. The Company may deliver any documents related
to this Option Award by electronic means and request your acceptance of this Agreement by electronic means. You hereby consent
to receive all applicable documentation by electronic delivery and to participate in the Plan through an on-line (and/or voice
activated) system established and maintained by the Company or the Company’s third-party stock plan administrator.

 

By signing the cover page of this Agreement or otherwise
accepting this Agreement in a manner approved by the Company, you agree to all the terms and conditions described above and in
the Plan document.

    	4Consulting
Agreement

 

This
Consulting Agreement (the “Agreement”)
is made and entered into, effective as of June 22, 2017 (the “Effective Date”), by and between Croe, Inc.,
a Utah corporation (the “Company”), and MP2 Ventures, LLC (“Consultant”), with reference
to the following facts:

 

Recitals:

 

A.
As of June 7, 2017, Michael Poutre, the sole member of Consultant, was appointed by the Board of Directors of the Company to serve
as Chief Executive Officer of the Company; and

 

B.
Consultant and the Company have agreed to execute this Agreement in order to memorialize the terms and conditions on which Consultant
shall provide such consulting services to the Company.

 

Agreements:

 

Now,
Therefore, the parties hereto, intending
to be legally bound, do hereby agree as follows:

 

1.
Performance of Services

 

1.1
Engagement. The Company hereby engages Consultant on the general terms and conditions
set forth in this Agreement to cause Consultant’s principal, Michael Poutre, to provide consulting services in connection
with the management of the Company, and in cooperation with the Board of Directors, as may be required from time to time, including,
but not limited managing the day-to-day transactions of the Company and implementing the Company’s long and short term objectives
(collectively, the “Services”). Consultant shall have the title of “Chief Executive Officer”.

 

1.2
Business Time. The parties agree that Consultant shall devote to the performance
of the Services pursuant to this Agreement such time as is mutually acceptable to Consultant and the Company, based upon the tasks
assigned to Consultant by the Company from time to time; provided that Consultant shall not be required to devote Consultant’s
exclusive business time to the performance of Services pursuant to this Agreement.

 

1.3
Location. Consultant shall perform the Services
primarily from the Company’s location in Malibu, California, or such other location as may be convenient or necessary, in
Consultant’s sole and reasonable discretion.

 

1.4
Reporting. Consultant shall report to the
Board of Directors of the Company.

 

1.5
Acceptance. Consultant hereby accepts the
engagement by the Company pursuant to this Agreement, and agrees to perform the Services in a competent, efficient, trustworthy
and businesslike manner.

 

2.
Compensation.
The Company shall compensate Consultant for Consultant’s
Services pursuant to this Agreement as follows:

 

2.1
Consulting Fee. The Company shall pay to Consultant a consulting fee in the amount of Two Hundred Forty Thousand
Dollars ($240,000) per annum, payable at the discretion of the Company, in accordance with its payroll practices.

 

2.2
Reimbursement of Expenses. The Company shall
reimburse Consultant for expenses paid or incurred by Consultant directly in connection with performing the Services, provided
that such expenses are reasonable in amount, are incurred for the benefit of the Company and are supported by itemized accountings
and expense receipts submitted to the Company prior to any reimbursement therefor. Any such expenses shall be reimbursed within
two (2) weeks of Consultant’s submission of any such request for reimbursement.

 

    	 

    	 

    

 

3.
Confidential
Information. Consultant acknowledges that
the Company does not desire to obtain improperly any proprietary or confidential information owned by any company or other person
with whom Consultant now has or heretofore has had a consulting engagement or employment relationship, and therefore agrees that
(a) Consultant shall not bring to the Company or share with any employee or other representative of the Company any written, electronic,
or other materials containing any confidential information belonging to any such current or former employer or other person, and
(b) Consultant shall not provide any such information in any other form to the Company (or any representative of the Company)
in violation of any agreements or any other obligations that Consultant may owe to any other persons.

 

4.
INDEMNIFICATION. Subject to the limits on
excess indemnification under the California Corporations Code, each Party (the “Indemnifying Party”) agrees
to indemnify and hold harmless the other Party and each person, if any, controlling the other Party or any of its affiliates within
the meaning of Section 15 of the Securities Act of 1933, as amended, or Section 20 of the Securities Exchange Act of 1934, as
amended (individually an “Indemnified Person” and collectively the “Indemnified Persons”).
Indemnifying Party will hold each Indemnified Person harmless from and against any and all losses, claims, damages, and liabilities,
joint or several (and all actions, claims, proceedings and investigations in respect thereof), caused by, related to or arising
out of, directly or indirectly, the engagement referred to in the Agreement, whether under any statute, under common law, or otherwise.
Indemnifying Party will also reimburse the Indemnified Person for all reasonable expenses (including reasonable fees and disbursements
of legal counsel), as such expenses are incurred, in connection with investigating, preparing to defend or defending any such
action, claim, proceeding or investigation, whether or not in connection with pending or threatened litigation in which the Indemnified
Person is a party or target. However, the Indemnifying Party will not be liable under this paragraph to the extent that any loss,
claim, damage, liability or expense is found in final judgment by a court of competent jurisdiction from which no appeal can be
or is taken to have resulted from the gross negligence of the Indemnified Person.

 

5.
Independent Contractor

 

5.1
Status. Consultant acknowledges that in performing Services pursuant to this
Agreement, Consultant (a) shall be an independent contractor and not an employee of the Company, (b) shall not be entitled to
participate in any fringe benefit programs established by the Company for the benefit of its employees, and (c) shall be solely
responsible for paying prior to delinquency, and shall indemnify, defend, and hold the Company free and harmless from and against,
all income taxes, self-employment taxes, and other taxes (including any interest and penalties with respect thereto) imposed on
the fees and expense reimbursements paid by the Company to Consultant pursuant to this Agreement.

 

5.2
Limitation on Authority. Consultant shall not be an agent of the Company and
shall have no authority to bind the Company or incur any liabilities in the name of the Company, except with the prior written
consent of the Board of Directors (which consent may be withheld in the absolute discretion of the Company).

 

6.
Term

 

6.1
Term and Termination. The Term of this Agreement
shall commence on the Effective Date and shall terminate upon the earlier of (a) the first anniversary of the Effective Date,
or (b) upon fifteen (15) days’ advance written notice by either party to the other party at any time, which Term shall automatically
renew on a monthly basis until terminated by either party upon fifteen (15) days’ advance written notice.

 

    	 

    	 

    

 

6.2
Effect of Termination. The Company shall
continue to be obligated to (i) pay Consultant any pro rata consulting fee to which Consultant is entitled under Section 2,
above, with respect to the period ending on the effective date of Termination; and (ii) reimburse Consultant for all expenses
paid or incurred prior to termination and for which Consultant is entitled to be reimbursed pursuant to Section 2, above.

 

7.
Miscellaneous

 

7.1
Notices. All notices permitted
or required by this Agreement shall be in writing, and shall be deemed to have been delivered and received (a) when personally
delivered, (b) on the third (3rd) business day after the date on which deposited in the United States mail, postage
prepaid, certified or registered mail, return receipt requested, (c) on the date on which transmitted by facsimile, email, or
other electronic means producing a tangible receipt evidencing a successful transmission , or (d) on the next business day after
the day on which deposited with a regulated public carrier (e.g., Federal Express), freight prepaid, addressed to the party
for whom intended at the address, facsimile number, or email set forth on the signature page of this Agreement, or such other
address, notice of which has been delivered in a manner permitted by this Section 7.1.

 

7.2
Further Assurances. Each party
agrees, upon the request of the other party, to make, execute, and deliver such additional documents, and to take such additional
actions, as may be reasonably necessary to effectuate the purposes of this Agreement.

 

7.3
Complete Agreement; Amendments. This
Agreement (a) contains the entire agreement and understanding between the parties and supersede all prior and contemporaneous
agreements and understandings, whether oral or written, concerning Consultant’s engagement with the Company, and (b) shall
not be modified or amended, except by a written instrument executed after the effective date hereof by the party sought to be
charged with such amendment or modification.

 

7.4
Counterparts; Electronic Signatures. This
Agreement may be executed in counterparts, each of which shall be deemed an original and both of which, taken together, shall
be one and the same instrument, binding on each signatory. A copy of this Agreement that is executed by a party and transmitted
by that party to the other party by facsimile or email shall be binding on the signatory to the same extent as a copy hereof containing
the signatory's original signature.

 

7.5
Attorneys’ Fees. If any action is commenced to construe this Agreement
or to enforce any of the rights and duties created herein, then the party prevailing in that action shall be entitled to recover
its costs and attorneys' fees in that action, as well as all costs and fees of enforcing any judgment entered therein.

 

7.6
Governing Law; Venue. This Agreement
shall be governed by and construed in accordance with applicable provisions of California law (other than its conflict-of-law
principles), and each party hereby consents to the jurisdiction of the state courts of the State of California for purposes of
all actions commenced to construe or enforce this Agreement.

 

[Signatures
appear on the following page.]

 

    	 

    	 

    

 

In
Witness Whereof, the parties hereto have
executed this Agreement, effective as of the Effective Date.

 

	“Company:”	 	“Consultant:”
	 	 	 
	Croe,
    Inc., 	 	MP2
    Ventures, LLC
	a
    Utah corporation	 	 
	 	 	 
	By:	/s/
    Ron Levy                       	 	By:	/s/
    Michael Poutre                  
	Name
    & Title: Ron Levy, Chief Operating Officer	 	 	Michael
    Poutre, Sole Member 
	 	 	 
	June
    22, 2017	 	June
    22, 2017
	Date	 	Date
	 	 	 
	Address
    for Notices:	 	Address
    for Notices:
	 	 	 
	23805
    Stuart Ranch Road, Suite 235	 	PO
    Box 1207
	Malibu,
    CA 90265	 	Simi
    Valley, CA 93062
	Attn:
    Chief Operating Officer	 	 
	 	 	Email:
    mike@thecryptocompany.com
	Email:
    ron@thecryptocompany.com

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