Document:

<PAGE>

                                                                     EXHIBIT 4.1

                       UPGRADE INTERNATIONAL CORPORATION

                            STOCK OPTION AGREEMENT

I.   NOTICE OF STOCK OPTION GRANT
     ----------------------------

The undersigned Optionee has been granted an Option to purchase Common Stock of
the Company, subject to the terms and conditions of the Plan and this Option
Agreement, as follows:

     Date of Grant                              April 18, 2000

     Vesting Commencement Date                  June 30, 2000

     Exercise Price per Share                   $10.00

     Total Number of Shares Granted             195,000 shares

     Total Exercise Price                       $1,950,000

     Type of Option:                            Incentive Stock Option

                                                xx  Nonstatutory Stock Option
                                                --

     Term/Expiration Date:                      April 17, 2005

     This Option shall be exercisable, in whole or in part, according to the
 following vesting schedule:

     Vesting Schedule:

     Amount                                            Vest Date
     ------                                            ---------

     65,000 shares                                     June 30, 2000

     65,000 shares                                     December 31, 2000

     65,000 shares                                     June 30, 2001

     Termination Period: April 17, 2005

     This Option may be exercised for one year after Optionee ceases to be a
Service
<PAGE>

Provider. In no event may Optionee exercise this Option after the
Term/Expiration Date as provided above.

II.  AGREEMENT

     1.   Grant of Option.  The Company hereby grants to the Optionee named in
          ---------------
the Notice of Grant (the "Optionee"), an option (the "Option") to purchase the
number of Shares set forth in the Notice of Grant, at the exercise price per
Share set forth in the Notice of Grant (the "Exercise Price").  If designated in
the Notice of Grant as an Incentive Stock Option ("ISO"), this Option is
intended to qualify as an Incentive Stock Option as defined in Section 422 of
the Code. Nevertheless, to the extent that it exceeds the $100,000 rule of Code
Section 422(d), this Option shall be treated as a Nonstatutory Stock Option
("NSO").

     2.   Exercise of Option.
          -------------------

          (a)  Right to Exercise.  This Option shall be exercisable during its
               ------------------
term in accordance with the Vesting Schedule set out in the Notice of Grant and
with the applicable provisions of this Option Agreement.

          (b)  Method of Exercise.  This Option shall be exercisable by delivery
               -------------------
of an exercise notice in the form attached as Exhibit A (the "Exercise Notice")
                                              ---------
which shall state the election to exercise the Option, the number of Shares with
respect to which the Option is being exercised, and such other representations
and agreements as may be required by the Company.  The Exercise Notice shall be
accompanied by payment of the aggregate Exercise Price as to all Exercised
Shares.  This Option shall be deemed to be exercised upon receipt by the Company
of such fully executed Exercise Notice accompanied by the aggregate Exercise
Price.  No Shares shall be issued pursuant to the exercise of an Option unless
such issuance and such exercise complies with Applicable Laws.  Assuming such
compliance, for income tax purposes the Shares shall be considered transferred
to the Optionee on the date on which the Option is exercised with respect to
such Shares.

     3.   Optionee's Representations.  In the event the Shares have not been
          ---------------------------
registered under the Securities Act of 1933, as amended, at the time this Option
is exercised, the Optionee shall, if required by the Company, concurrently with
the exercise of all or any portion of this Option, deliver to the Company his or
her Investment Representation Statement in the form attached hereto as Exhibit
                                                                       -------
B.
-

     4.   Lock-Up Period.  Optionee hereby agrees that, if so requested by the
          --------------
Company or any representative of the underwriters (the "Managing Underwriter")
in connection with any registration of the offering of any securities of the
Company under the Securities Act, Optionee shall not sell or otherwise transfer
any Shares or other securities of the Company during the 180-day period (or such
other period as may be requested in writing by the Managing Underwriter and
agreed to in writing by the
<PAGE>

Company) (the "Market Standoff Period") following the effective date of a
registration statement of the Company filed under the Securities Act. Such
restriction shall apply only to the first registration statement of the Company
to become effective under the Securities Act that includes securities to be sold
on behalf of the Company to the public in an underwritten public offering under
the Securities Act. The Company may impose stop-transfer instructions with
respect to securities subject to the foregoing restrictions until the end of
such Market Standoff Period.

     5.   Method of Payment.  Payment of the aggregate Exercise Price shall be
          -----------------
by any of the following, or a combination thereof, at the election of the
Optionee:

          (a)  cash or check;

          (b)  consideration received by the Company under a formal cashless
exercise program adopted by the Company; or

          (c)  surrender of other Shares which, (i) in the case of Shares
acquired upon exercise of an option, have been owned by the Optionee for more
than six (6) months on the date of surrender, and (ii) have a Fair Market Value
on the date of surrender equal to the aggregate Exercise Price of the Exercised
Shares.

     6.   Restrictions on Exercise.  This Option may not be exercised if the
          ------------------------
issuance of such Shares upon such exercise or the method of payment of
consideration for such shares would constitute a violation of any Applicable
Law.

     7.   Non-Transferability of Option.  This Option may not be transferred in
          -----------------------------
any manner otherwise than by will or by the laws of descent or distribution and
may be exercised during the lifetime of Optionee only by Optionee.  The terms of
this Option Agreement shall be binding upon the executors, administrators,
heirs, successors and assigns of the Optionee.

     8.   Term of Option.  This Option may be exercised only within the term set
          --------------
out in the Notice of Grant, and may be exercised during such term only in
accordance with the terms of this Option.

     9.   Tax Consequences.  Set forth below is a brief summary as of the date
          ----------------
of this Option of some of the federal tax consequences of exercise of this
Option and disposition of the Shares.  THIS SUMMARY IS NECESSARILY INCOMPLETE,
AND THE TAX LAWS AND REGULATIONS ARE SUBJECT TO CHANGE. THE OPTIONEE SHOULD
CONSULT A TAX ADVISER BEFORE EXERCISING THIS OPTION OR DISPOSING OF THE SHARES.

          (a)  Exercise of NSO.  There may be a regular federal income tax
               ---------------
liability upon the exercise of an NSO.  The Optionee will be treated as having
received
<PAGE>

compensation income (taxable at ordinary income tax rates) equal to the excess,
if any, of the Fair Market Value of the Shares on the date of exercise over the
Exercise Price. If Optionee is an Employee or a former Employee, the Company
will be required to withhold from Optionee's compensation or collect from
Optionee and pay to the applicable taxing authorities an amount in cash equal to
a percentage of this compensation income at the time of exercise, and may refuse
to honor the exercise and refuse to deliver Shares if such withholding amounts
are not delivered at the time of exercise.

          (b)  Exercise of ISO.  If  this Option qualifies as an ISO, there will
               ---------------
be no regular federal income tax liability upon the exercise of the Option,
although the excess, if any, of the Fair Market Value of the Shares on the date
of exercise over the Exercise Price will be treated as an adjustment to the
alternative minimum tax for federal tax purposes and may subject the Optionee to
the alternative minimum tax in the year of exercise.

          (c)  Disposition of Shares.  In the case of an NSO, if Shares are held
               ---------------------
for at least one year, any gain realized on disposition of the Shares will be
treated as long-term capital gain for federal income tax purposes.  In the case
of an ISO, if Shares transferred pursuant to the Option are held for at least
one year after exercise and of at least two years after the Date of Grant, any
gain realized on disposition of the Shares will also be treated as long-term
capital gain for federal income tax purposes.  If Shares purchased under an ISO
are disposed of within one year after exercise or two years after the Date of
Grant, any gain realized on such disposition will be treated as compensation
income (taxable at ordinary income rates) to the extent of the difference
between the Exercise Price and the lesser of (1) the Fair Market Value of the
Shares on the date of exercise, or (2) the sale price of the Shares.  Any
additional gain will be taxed as capital gain, short-term or long-term depending
on the period that the ISO Shares were held.

          (d)  Notice of Disqualifying Disposition of ISO Shares.  If the Option
               -------------------------------------------------
granted to Optionee herein is an ISO, and if  Optionee sells or otherwise
disposes of any of the Shares acquired pursuant to the ISO on or before the
later of (1) the date two (2) years after the Date of Grant, or (2) the date one
year after the date of exercise, the Optionee shall immediately notify the
Company in writing of such disposition.  Optionee agrees that Optionee may be
subject to income tax withholding by the Company on the compensation income
recognized by the Optionee.

     10.  Entire Agreement; Governing Law.  This Option Agreement constitutes
          -------------------------------
the entire agreement of the parties with respect to the subject matter hereof
and supersedes in their entirety all prior undertakings and agreements of the
Company and Optionee with respect to the subject matter hereof, and may not be
modified adversely to the Optionee's interest except by means of a writing
signed by the Company and Optionee.  This agreement is governed by the laws of
the State of Washington.

     11.  No Guarantee of Continued Service.  OPTIONEE ACKNOWLEDGES
          ---------------------------------
<PAGE>

AND AGREES THAT THE VESTING OF SHARES PURSUANT TO THE VESTING SCHEDULE HEREOF IS
EARNED ONLY BY CONTINUING AS A SERVICE PROVIDER AT THE WILL OF THE COMPANY (NOT
THROUGH THE ACT OF BEING HIRED, BEING GRANTED THIS OPTION OR ACQUIRING SHARES
HEREUNDER). OPTIONEE FURTHER ACKNOWLEDGES AND AGREES THAT THIS AGREEMENT, THE
TRANSACTIONS CONTEMPLATED HEREUNDER AND THE VESTING SCHEDULE SET FORTH HEREIN DO
NOT CONSTITUTE AN EXPRESS OR IMPLIED PROMISE OF CONTINUED ENGAGEMENT AS A
SERVICE PROVIDER FOR THE VESTING PERIOD, FOR ANY PERIOD, OR AT ALL, AND SHALL
NOT INTERFERE IN ANY WAY WITH OPTIONEE'S RIGHT OR THE COMPANY'S RIGHT TO
TERMINATE OPTIONEE'S RELATIONSHIP AS A SERVICE PROVIDER AT ANY TIME, WITH OR
WITHOUT CAUSE.

     Optionee acknowledges that these Options are being issued outside of the
Company 2000 Stock Option Plan and represents that it understands that the terms
and provisions of the 2000 Stock Option Plan have no effect on this Option.
Optionee has had an opportunity to obtain the advice of counsel prior to
executing this Option and fully understands all provisions of the Option.
Optionee hereby agrees to accept as binding, conclusive and final all decisions
or interpretations of the Company upon any questions arising under this Option.
Optionee further agrees to notify the Company upon any change in the residence
address indicated below.

OPTIONEE                                     COMPANY

COHEN, MILSTEIN                              UPGRADE INTERNATIONAL
HAUSFELD & TOLL P.L.L.C.                     CORPORATION

_______________________________              /s/ Daniel S. Bland
                                             ----------------------------------
By:                                          By: Daniel S. Bland
Its:                                         Its:President

999 Third Avenue
-------------------------------
Suite 3600
-------------------------------
Seattle, WA 98104
-------------------------------
<PAGE>

                                   EXHIBIT A
                                   ---------

                                EXERCISE NOTICE

Upgrade International Corporation
1411 Fourth Avenue, Suite 629
Seattle, WA 98101

Attention: Secretary

     1.   Exercise of Option.  Effective as of today, _____________, 19__, the
          ------------------
undersigned ("Optionee") hereby elects to exercise Optionee's option to purchase
________shares of the Common Stock (the "Shares") of  Upgrade International
Corporation (the "Company") under the Stock Option Agreement dated __________,
19___ (the "Option Agreement").

     2.   Delivery of Payment.  Purchaser herewith delivers to the Company the
          -------------------
full purchase price of the Shares, as set forth in the Option Agreement.

     3.   Representations of Optionee.  Optionee acknowledges that Optionee has
          ---------------------------
received, read and understood the Option Agreement and agrees to abide by and be
bound by its terms and conditions.

     4.   Rights as Shareholder.  Until the issuance of the Shares (as evidenced
          ---------------------
by the appropriate entry on the books of the Company or of a duly authorized
transfer agent of the Company), no right to vote or receive dividends or any
other rights as a shareholder shall exist with respect to the Optioned Stock,
notwithstanding the exercise of the Option.  The Shares shall be issued to the
Optionee as soon as practicable after the Option is exercised.  No adjustment
shall be made for a dividend or other right for which the record date is prior
to the date of issuance.

     5.   Company's Right of First Refusal.  Before any Shares held by Optionee
          --------------------------------
or any transferee (either being sometimes referred to herein as the "Holder")
may be sold or otherwise transferred (including transfer by gift or operation of
law), the Company or its assignee(s) shall have a right of first refusal to
purchase the Shares on the terms and conditions set forth in this Section (the
"Right of First Refusal").

          (a)  Notice of Proposed Transfer.  The Holder of the Shares shall
               ---------------------------
deliver to the Company a written notice (the "Notice") stating: (i) the Holder's
bona fide intention to sell or otherwise transfer such Shares; (ii) the name of
each proposed purchaser or other transferee ("Proposed Transferee"); (iii) the
number of Shares to be
<PAGE>

transferred to each Proposed Transferee; and (iv) the bona fide cash price or
other consideration for which the Holder proposes to transfer the Shares (the
"Offered Price"), and the Holder shall offer the Shares at the Offered Price to
the Company or its assignee(s).

          (b)  Exercise of Right of First Refusal.  At any time within 30 days
               ----------------------------------
after receipt of the Notice, the Company and/or its assignee(s) may, by giving
written notice to the Holder, elect to purchase all, but not less than all, of
the Shares proposed to be transferred to any one or more of the Proposed
Transferees, at the purchase price determined in accordance with subsection (c)
below.

          (c)  Purchase Price.  The purchase price ("Purchase Price") for the
               --------------
Shares purchased by the Company or its assignee(s) under this Section shall be
the Offered Price.  If the Offered Price includes consideration other than cash,
the cash equivalent value of the non-cash consideration shall be determined by
the Board of Directors of the Company in good faith.

          (d)  Payment.  Payment of the Purchase Price shall be made, at the
               -------
option of the Company or its assignee(s), in cash (by check), by cancellation of
all or a portion of any outstanding indebtedness of the Holder to the Company
(or, in the case of repurchase by an assignee, to the assignee), or by any
combination thereof within 30 days after receipt of the Notice or in the manner
and at the times set forth in the Notice.

          (e)  Holder's Right to Transfer.  If all of the Shares proposed in the
               --------------------------
Notice to be transferred to a given Proposed Transferee are not purchased by the
Company and/or its assignee(s) as provided in this Section, then the Holder may
sell or otherwise transfer such Shares to that Proposed Transferee at the
Offered Price or at a higher price, provided that such sale or other transfer is
consummated within 120 days after the date of the Notice, that any such sale or
other transfer is effected in accordance with any applicable securities laws and
that the Proposed Transferee agrees in writing that the provisions of this
Section shall continue to apply to the Shares in the hands of such Proposed
Transferee.  If the Shares described in the Notice are not transferred to the
Proposed Transferee within such period, a new Notice shall be given to the
Company, and the Company and/or its assignees shall again be offered the Right
of First Refusal before any Shares held by the Holder may be sold or otherwise
transferred.

          (f)  Exception for Certain Family Transfers.  Anything to the contrary
               --------------------------------------
contained in this Section notwithstanding, the transfer of any or all of the
Shares during the Optionee's lifetime or on the Optionee's death by will or
intestacy to the Optionee's immediate family or a trust for the benefit of the
Optionee's immediate family shall be exempt from the provisions of this Section.
"Immediate Family" as used herein shall mean spouse, lineal descendant or
antecedent, father, mother, brother or sister. In such case, the transferee or
other recipient shall receive and hold the Shares so transferred subject to the
provisions of this Section, and there shall be no further transfer of such
Shares except in accordance with the terms of this Section.
<PAGE>

          (g)  Termination of Right of First Refusal. The Right of First Refusal
               -------------------------------------
shall terminate as to any Shares upon the first sale of Common Stock of the
Company to the general public pursuant to a registration statement filed with
and declared effective by the Securities and Exchange Commission under the
Securities Act of 1933, as amended.

     6.   Tax Consultation.  Optionee understands that Optionee may suffer
          ----------------
adverse tax consequences as a result of Optionee's purchase or disposition of
the Shares.  Optionee represents that Optionee has consulted with any tax
consultants Optionee deems advisable in connection with the purchase or
disposition of the Shares and that Optionee is not relying on the Company for
any tax advice.

     7.   Restrictive Legends and Stop-Transfer Orders.
          --------------------------------------------

          (a)  Legends.  Optionee understands and agrees that the Company shall
               -------
cause the legends set forth below or legends substantially equivalent thereto,
to be placed upon any certificate(s) evidencing ownership of the Shares together
with any other legends that may be required by the Company or by state or
federal securities laws:

          THE SECURITIES EVIDENCED BY THIS CERTIFICATE HAVE BEEN ACQUIRED FOR
          INVESTMENT AND HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF
          1933 (THE "ACT") OR ANY STATE SECURITIES LAWS. SUCH SECURITIES MAY NOT
          BE SOLD OR OFFERED FOR SALE OR OTHERWISE TRANSFERRED, PLEDGED OR
          HYPOTHECATED IN THE ABSENCE OF SUCH REGISTRATION OR AN OPINION OF
          COUNSEL SATISFACTORY TO THE ISSUER AND ITS COUNSEL THAT SUCH
          REGISTRATION IS NOT REQUIRED UNDER THE ACT AND ANY STATE SECURITIES
          LAWS.

          THE SHARES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO CERTAIN
          RESTRICTIONS ON TRANSFER AND A RIGHT OF FIRST REFUSAL HELD BY THE
          ISSUER OR ITS ASSIGNEE(S) AS SET FORTH IN THE EXERCISE NOTICE BETWEEN
          THE ISSUER AND THE ORIGINAL HOLDER OF THESE SHARES, A COPY OF WHICH
          MAY BE OBTAINED AT THE PRINCIPAL OFFICE OF THE ISSUER. SUCH TRANSFER
          RESTRICTIONS AND RIGHT OF FIRST REFUSAL ARE BINDING ON TRANSFEREES OF
          THESE SHARES.

          (b)  Stop-Transfer Notices.  Optionee agrees that, in order to ensure
               ---------------------
compliance with the restrictions referred to herein, the Company may issue
appropriate "stop transfer" instructions to its transfer agent, if any, and
that, if the Company transfers its own securities, it may make appropriate
notations to the same effect in its own records.
<PAGE>

          (c)  Refusal to Transfer.  The Company shall not be required (i) to
               -------------------
transfer on its books any Shares that have been sold or otherwise transferred in
violation of any of the provisions of this Exercise Notice or (ii) to treat as
owner of such Shares or to accord the right to vote or pay dividends to any
purchaser or other transferee to whom such Shares shall have been so
transferred.

     8.   Successors and Assigns. The Company may assign any of its rights under
          ----------------------
this Exercise Notice to single or multiple assignees, and this Exercise Notice
shall inure to the benefit of the successors and assigns of the Company. Subject
to the restrictions on transfer herein set forth, this Exercise Notice shall be
binding upon Optionee and his or her heirs, executors, administrators,
successors and assigns.

     9.   Interpretation.  Any dispute regarding the interpretation of this
          --------------
Exercise Notice shall be submitted by Optionee or by the Company forthwith to
the Board of Directors of the Company.  The resolution of such a dispute by the
Board of Directors shall be final and binding on all parties.

     10.  Governing Law; Severability.  This Exercise Notice is governed by the
          ---------------------------
laws of the State of Washington.

     11.  Entire Agreement.  The Option Agreement is incorporated herein by
          ----------------
reference. This Exercise Notice, the Option Agreement and the Investment
Representation Statement constitute the entire agreement of the parties with
respect to the subject matter hereof and supersede in their entirety all prior
undertakings and agreements of the Company and Optionee with respect to the
subject matter hereof, and may not be modified adversely to the Optionee's
interest except by means of a writing signed by the Company and Optionee.

Submitted by:                           Accepted by:

OPTIONEE                                UPGRADE INTERNATIONAL
                                        CORPORATION

________________________________        ____________________________________
By:                                     By:
Its:                                    Its:

________________________________
Date Received
<PAGE>

                                   EXHIBIT B
                                   ---------

                      INVESTMENT REPRESENTATION STATEMENT

OPTIONEE:

COMPANY:       UPGRADE INTERNATIONAL CORPORATION

SECURITY:      COMMON STOCK

AMOUNT:

DATE:

     In connection with the purchase of the above-listed Securities, the
undersigned Optionee represents to the Company the following:

     (a)  Optionee is aware of the Company's business affairs and financial
condition and has acquired sufficient information about the Company to reach an
informed and knowledgeable decision to acquire the Securities. Optionee is
acquiring these Securities for investment for Optionee's own account only and
not with a view to, or for resale in connection with, any "distribution" thereof
within the meaning of the Securities Act of 1933, as amended (the "Securities
Act").

     (b)  Optionee acknowledges and understands that the Securities constitute
"restricted securities" under the Securities Act and have not been registered
under the Securities Act in reliance upon a specific exemption therefrom, which
exemption depends upon, among other things, the bona fide nature of Optionee's
investment intent as expressed herein.  In this connection, Optionee understands
that, in the view of the Securities and Exchange Commission, the statutory basis
for such exemption may be unavailable if Optionee's representation was
predicated solely upon a present intention to hold these Securities for the
minimum capital gains period specified under tax statutes, for a deferred sale,
for or until an increase or decrease in the market price of the Securities, or
for a period of one year or any other fixed period in the future.  Optionee
further understands that the Securities must be held indefinitely unless they
are subsequently registered under the Securities Act or an exemption from such
registration is available. Optionee further acknowledges and understands that
the Company is under no obligation to register the Securities. Optionee
understands that the certificate evidencing the Securities will be imprinted
with a legend which prohibits the transfer of the Securities unless they are
registered or such registration is not required in the opinion of counsel
satisfactory to the Company, and any other legend required under applicable
state securities laws.

     (c)  Optionee is familiar with the provisions of Rule 701 and Rule 144,
each promulgated under the Securities Act, which, in substance, permit limited
public resale of
<PAGE>

"restricted securities" acquired, directly or indirectly from the issuer
thereof, in a non-public offering subject to the satisfaction of certain
conditions. Rule 701 provides that if the issuer qualifies under Rule 701 at the
time of the grant of the Option to the Optionee, the exercise will be exempt
from registration under the Securities Act. In the event the Company becomes
subject to the reporting requirements of Section 13 or 15(d) of the Securities
Exchange Act of 1934, as amended, 90 days thereafter (or such longer period as
any market stand-off agreement may require) the Securities exempt under Rule 701
may be resold, subject to the satisfaction of certain of the conditions
specified by Rule 144, including: (1) the resale being made through a broker in
an unsolicited "broker's transaction" or in transactions directly with a market
maker (as said term is defined under the Securities Exchange Act of 1934, as
amended); and, in the case of an affiliate, (2) the availability of certain
public information about the Company, (3) the amount of Securities being sold
during any three-month period not exceeding the limitations specified in Rule
144(e), and (4) the timely filing of a Form 144, if applicable.

     In the event that the Company does not qualify under Rule 701 at the time
of grant of the Option, then the Securities may be resold in certain limited
circumstances subject to the provisions of Rule 144, which requires the resale
to occur not less than one year after the later of the date the Securities were
sold by the Company or the date the Securities were sold by an affiliate of the
Company, within the meaning of Rule 144; and, in the case of acquisition of the
Securities by an affiliate, or by a non-affiliate who subsequently holds the
Securities less than two years, the satisfaction of the conditions set forth in
sections (1), (2), (3) and (4) of the paragraph immediately above.

     (d)  Optionee further understands that in the event all of the applicable
requirements of Rule 701 or 144 are not satisfied, registration under the
Securities Act, compliance with Regulation A, or some other registration
exemption will be required; and that, notwithstanding the fact that Rules 144
and 701 are not exclusive, the Staff of the Securities and Exchange Commission
has expressed its opinion that persons proposing to sell private placement
securities other than in a registered offering and otherwise than pursuant to
Rule 144 or 701 will have a substantial burden of proof in establishing that an
exemption from registration is available for such offers or sales, and that such
persons and their respective brokers who participate in such transactions do so
at their own risk. Optionee understands that no assurances can be given that any
such other registration exemption will be available in such event.

Signature of Optionee:              Accepted by:

                                    UPGRADE INTERNATIONAL CORPORATION

                                    /s/ Daniel S. Bland
___________________________         ----------------------------------
By:                                 By: Daniel Bland
Its:                                Its: President

___________________________
Date Received<PAGE>

                                                                    Exhibit 10.1

                              DESIGN AGREEMENT FOR
                        ULTRACARD WRITER/READER DEVICES

     THIS DESIGN AGREEMENT FOR ULTRACARD WRITER/READER DEVICES (the "Agreement")
is made this 17th day of May, 2000, by and between UltraCard, Inc., a Nevada
corporation having a place of business at 1550 S. Bascom Avenue, Suite 100,
Campbell, California 95008 ("UltraCard") and PEMSTAR INC, a Minnesota
corporation, having a place of business at 2020 S. Tenth St, San Jose, Calif.
("Pemstar").

                                   Recitals:
                                   ---------

     A.  UltraCard desires to enter into a design program to have an UltraCard
Writer/Reader Device designed for manufacturing for use with portable card
devices.

     B.  Pemstar offers design services generally and specifically, has the
capability of designing for manufacturing such an UltraCard Writer/Reader
Device.

     C.  UltraCard and Pemstar desire to enter in an Agreement to set forth the
terms and conditions under which Pemstar is to provide the design services to
UltraCard.

     In consideration of the mutual premises set forth below between UltraCard
and Pemstar, the parties agree as follows:

     1.  Proposal/Project Parameters
         ---------------------------

     (A) Pemstar, Inc. has submitted a proposal to UltraCard, Inc. dated April
14, 2000 and identified as Project No. 2000-0127, a copy of which is identified
as Schedule A and attached hereto.

     (B) The Proposal of Schedule A sets forth the Project Parameters of the
Project for an UltraCard Writer/Reader Device including the Scope of Work,
Assumptions, Approach including Phase 1, Phase 2a, Phase 2b and Proposed Phase
3. The DELIVERABLE set forth shall be delivered at the end of each phase.

                                      -1-
<PAGE>

                  Estimated
                  ---------
Phase             Time Period                      Comments
-----             -----------                      --------
                  Six (6) weeks to eight (8)       (i) Need to revise estimates
1                 weeks from date of this          for Phase 2a; and
                  Agreement
                                                   (ii) Parties agree in writing
                                                   on costs and schedule
                                                   estimates before commencing
                                                   with Phase 2a.

2a                Eleven (11) Weeks to Thirteen    (i) Need to revise estimates
                  Weeks from Agreement on costs    for Phase 2b; and
                  for Phase 2a
                                                   (ii) Parties agree in writing
                                                   on costs and schedule
                                                   estimates before commencing
                                                   with Phase 2b.

2b                Fourteen Weeks to Sixteen        (i) Need to revise estimates
                  Weeks from Agreement on costs    for Phase 2b; and
                  for Phase 2b
                                                   (ii) Parties agree in writing
                                                   on costs and schedule
                                                   estimates before commencing

3                 Parties to agree in writing to   Parties agree in writing on
                  terms and conditions of Phase    costs before commencing

                                      -2-
<PAGE>

     Current estimates set forth in the above tables may be revised
substantially as required definitions, technology and concepts on selection and
components with various lead times and tool needs are specified during the
course of the Phases. Pemstar will use its best efforts to keep UltraCard
advised of the same. UltraCard retains control over decisions on what schedules
would be traded off during the UltraCard Reader/Writer Project.

     UltraCard desires to cooperate with Pemstar to reduce, if and where
possible, the above times for each Phase and to determine what steps could be
taken to reduce the above times and what costs Pemstar would require to
accomplish the above. The parties would mutually agree to any revision to the
above schedule and associated costs to effectuate the above.

     (C)  Parties are to agree in writing on cost estimates for each phase
before it begins. Billing reflects actual costs as incurred and invoicing is
monthly and at phase completions.

     (D)  Subject to the additional terms and conditions set forth below,
UltraCard and Pemstar agree that the Project Parameters set forth in Schedule A
shall be the applicable terms and conditions for the purpose of this Agreement
and the sections entitled Schedule and Cost are specifically replaced by the
terms and conditions set forth below.

     2.   Specifications
          --------------

     (A)  As part of Phase 1, Pemstar shall assist UltraCard in establishing a
preliminary written product for the mechanics of the UltraCard Reader/Writer
including performance requirements, component specifications, electrical
interface, definitions and methods for test (the "Preliminary Writer/Reader
Specification"), it being understood that UltraCard shall be responsible for
verifying that the specification covers the desired Writer/Reader device.

     (B)  Upon completion of Phase 1, UltraCard and Pemstar shall agree on the
Writer/Reader Design Specification which shall be used for the design effort in
Phase 2a, resulting in Writer/Reader Design Documentation.

     (C)  Upon completion of Phase 2a, UltraCard and Pemstar shall agree on the
Writer/Reader Design Documentation which shall be used for fabrication of
prototype Writer/Readers in Phase 2b.

                                      -3-
<PAGE>

     3.   Costs
          -----

     (A)  UltraCard and Pemstar agree to the following initial estimates and
targeted maximum costs. Pemstar will revise these estimates at the completion of
each Phase. UltraCard and Pemstar will re-negotiate the costs before commencing
the next Phase.

Phase               Estimated Costs               Targeted Maximum
-----               ---------------               ----------------
                                                  Costs
                                                  -----

1                   $ 46,000.00                   $ 75,000.00

2a                  $ 125,000.00 to               $280,000.00
                    $ 220,000.00

2b                  $ 155,000.00 to               $300,000.00
                    $ 240,000.00

     Pemstar will use its best efforts to keep UltraCard advised, on a periodic
basis, of the actual costs verses Targeted Maximum Costs set forth above and
shall advise UltraCard in a written notice if Pemstar foresees or reasonably
becomes aware that the actual costs will exceed the Target Maximum Costs
resulting in excess costs. Such notice shall set forth the project amounts of
such excess costs and the reasons therefor. UltraCard retains control over
decisions on what excess costs, which exceed the Targeted Maximum Costs, should
be incurred by UltraCard during the UltraCard Reader/Writer Project.

(B)  Changes in scope of any phase directed by UltraCard or suggested by Pemstar
and approved by UltraCard shall be considered as an addition to this contract
and subject to separate negotiations as to cost and schedule.

                                      -4-
<PAGE>

     (B)  Pemstar will invoice UltraCard monthly and at the end of each Phase
          for the actual costs incurred for the applicable Phase together with
          sufficient detail of labor, travel, material costs and the 25% mark up
          so as to enable UltraCard to verify the same.

     (D)  UltraCard shall pay net thirty (30) days from the date of invoice.

     4.   Freedom of PEMSTAR to Deal With Third Parties
          ---------------------------------------------

     (A)  UltraCard hereby acknowledges that the Services are being performed by
PEMSTAR in a non-exclusive basis and that PEMSTAR shall be free to offer its
services to others during or after the term of this Agreement, subject only to
PEMSTAR's obligations of confidentiality and restriction on use of UltraCard's
confidential Information as controlled by Non-Disclosure Agreement dated March
27, 2000.

     5.   Intellectual Property
          ---------------------

     (A)  UltraCard is to exclusively own all intellectual property rights in
and to all technology developed by Pemstar in connection with the UltraCard
Writer/Reader Device Project.

     (B)  In the event Pemstar incorporates any of Pemstar proprietary rights
into the UltraCard Writer/Reader Device (the "Pemstar Rights"), Pemstar hereby
grants to UltraCard a non-exclusive, royalty free right and license to use the
Pemstar Rights.

     (C)  UltraCard hereby acknowledges that PEMSTAR is in the business of
rendering, among other things, engineering services, and that PEMSTAR and its
employees possess a variety of methods, techniques and other strategies
collectively, "Know How" that were acquired or developed by PEMSTAR or its
employees prior to the commencement of the Services. "Know How" does not include
confidential or proprietary information outlined in Section 7.0. PEMSTAR shall
retain all rights, title and interest in such Know How and shall be free to use
same during or after the term of this Agreement. PEMSTAR shall be free to use,
in a manner that does not compete directly with UltraCard's Products,
information developed by PEMSTAR under this Agreement if the information was
developed without the use of UltraCard's Confidential Information, as defined
below in Section 7.0. Otherwise, any Trade Secrets, as defined by Minn. Stat
325C.01 et seq., and any

                                      -5-
<PAGE>

patentable inventions developed by PEMSTAR for UltraCard under this Agreement
shall be UltraCard's property.

     6.   Term/Termination
          ----------------

     (A)  Subject to Paragraph 6(B), the maximum term of this Agreement shall be
for twelve (12) months with reasonable rights of cancellation by either party
for non-performance Or breach of terms by such party providing written notice
thereof to the other party, provided, however, that the party exercising its
                            -----------------
rights hereunder shall first provide the other party with ten (10) business days
prior written notice of the non-performance or breach and the other party shall
have failed to cure the same within the ten (10) business day period.

     (B)  Notwithstanding any other provision of this Agreement, UltraCard has
the right to terminate and/or cancel this Agreement at any time by providing and
delivering to Pemstar a Written Notice of Termination, which termination shall
be effective upon receipt of the same by Pemstar (the" Effective Date of
Termination").

     (C)  In the event that UltraCard exercises its rights set forth in
Paragraph 6(B) above, UltraCard's obligation shall be to pay to Pemstar the
actual costs incurred, including any expenses for tooling, parts or the like to
the extent that Pemstar is obligated to pay the same, to the Effective Date of
Termination.

     7.   Independent Contractor Status; Limitation of Responsibilities
          -------------------------------------------------------------

     (A)  In rendering the Services, PEMSTAR shall be acting as an independent
contractor and not as an employee or agent of UltraCard. PEMSTAR shall have the
sole discretion to determine the most appropriate means and methods to perform
the Services. Nothing contained in this Agreement shall be construed or applied
to create a partnership.

     (B)  PEMSTAR shall be solely responsible for the payment of all federal,
state or local taxes with respect to all amounts paid to PEMSTAR under the
Agreement.

     8.   Indemnification
          ---------------

     (A)     Either party hereby agrees to indemnify and hold harmless the other
party from and against any liability, costs and expenses (including, but not
limited to, reasonable costs of

                                      -6-
<PAGE>

defense) that are incurred by a party resulting from or arising out of any
claim, including property damage or death or personal injury, due to the
negligence or willful misconduct of the other party and that are not caused by
any contributory negligence or willful misconduct of the other party. If a party
claims such indemnification, it shall give prompt written notice to the other
party of the nature and extent of any such claim, and shall render such
cooperation as is reasonably requested by the other party in the defense or
resolution of such claim or dispute.

     (B)  In the event of any product liability claim and excepting any claim
                                                          ---------
against Pemstar relating to the design of the UltraCard Reader/Writer Device
arising from a claim of negligence or otherwise, UltraCard hereby agrees to
indemnify and hold harmless Pemstar from and against any liability, costs and
expenses (including, but not limited to, reasonable costs of defense) that are
incurred Pemstar resulting from or arising out of any product liability claim,
it being understood that UltraCard shall have the sole discretion as to the
obtaining of or not obtaining of product liability insurance covering the
UltraCard Reader/Writer Device.

     (C)  UltraCard recognizes that PEMSTAR is solely providing UltraCard with
information and advice. Subject to the provisions of Paragraphs 11.1 and 11.3
and to the provisions of this agreement, UltraCard also recognizes that PEMSTAR
has no control over what UltraCard does with such information and advice. As
such, UltraCard hereby agrees to indemnify and hold harmless PEMSTAR from and
against any liability, costs and expenses (including, but not limited to,
reasonable costs of defense) that are incurred by PEMSTAR resulting from or
arising out of any use by UltraCard of this information.

                                      -7-
<PAGE>

     (D)  Without limiting the generality of the foregoing, this indemnification
provision includes claims for copyright, patent, trademark and other
infringements if statutory or common law rights which protect intellectual
property rights. PEMSTAR makes no representations that the Services provided
will not infringe such intellectual property rights. However, PEMSTAR states
that, to its actual knowledge, without conducting any investigation, the
Services provided are not known by PEMSTAR at the time of provision to violate
such intellectual property rights.

     9.   Interpretation
          --------------

     (A)  The parties agree that all provisions of this Agreement, and any
questions concerning its construction and interpretation, shall be governed by
the laws of the State of California.

     (B)  This Agreement supersedes any and all previous agreements, written or
oral, between the parties relating to the subject matter hereof.

     (C)  No amendment or modification of the terms of this Agreement shall be
binding upon either party unless reduced to writing and signed by the parties.

     (D)  In the event any provision hereof is deemed null and void or
unenforceable, the remaining provisions thereof shall remain in full force and
effect.

     8.   Notices
          -------

     All notices, reports and payments made pursuant to this Agreement shall be
in writing and addressed to the parties at the address set forth in the first
paragraph of this Agreement unless notice of a different address is supplied by
either party to the other.

                                      -8-
<PAGE>

          IN WITNESS WHEREOF, each of the parties has executed this Agreement as
of the day and year set forth below adjacent to their respective signatures, but
effective as of the day and year first set forth above.

                                    UltraCard, Inc.,
                                    a Nevada corporation

Date: May  19, 2000           By /s/ Don Mann
                                 -----------------------------------
                                     Don Mann,
                                     Chief Technical Officer

                                        PEMSTAR INC,
                                        a Minnesota corporation

Date: May ___, 2000           By /s/ Gary Lingbeck
                                 -----------------------------------
                                     Gary Lingbeck,
                                     Executive Vice President

261 ucipemstarrev4

                                      -9-
<PAGE>

                                   SCHEDULE A

                                      -10-
<PAGE>

Henry Perez
Director of Engineering, UltraCard Inc.
1550 S. Bascom Ave., Ste 100
Campbell, CA 95008
Tel: (408) 558-7000
Fax: (408) 558-6999

Dear Henry,
PEMSTAR is pleased to propose for UltraCard a program to define, design for
manufacturability, and build UltraCard Writer/Reader Devices. PEMSTAR is also
capable of providing concurrent manufacturing and test equipment and process
design, and other support beyond the scope of this proposal.

This proposal is based on the three phase approach Pemstar uses for product
development projects:

               Phase 1:  Product Definition and Concept Development
               Phase 2:  System Design, Prototype Build and Validation
               Phase 3:  Replication

In this case, Phase 3 is not addressed--it can be started any time in the future
from the completely documented design resulting from Phases 1 and 2. Phase 2
will be subdivided into 2a) System Design and 2b) Prototype and Refine for the
purposes of better isolating the activities for stepwise estimating and better
UltraCard program control.

At the end of Phase 1, an improved estimate for Phase 2 will be made for your
consideration before continuing. At this time, we have significant uncertainty
in the estimate for Phase 2, as it highly depends both on the definition details
and the concept UltraCard will prefer to pursue. Nevertheless, we are including
an indication of a range of possible costs based on experience in disk drive
development.

Scope of Work:
--------------
  This proposal covers the effort to define the product requirements, generate
  design concepts and design verification test requirements, complete the
  detailed system design, prototype build and test, deliver and demonstrate, and
  support you with problem solving after delivery.

  I have attached for reference a New Product Introduction checklist. With it,
  notice that a number of items from the Engineering section are not included in
  this scope, such as localization requirements, serial number and configuration
  planning, and packing design. At this time, it is not clear to what extent
  these items are covered by the participation of other elements of the
  UltraCard engineering team. This will be determined during the definition
  phase work.

  The other sections of the NPI Checklist are included because they may be
  useful in assessing other work that still needs to be addressed, but is
  outside the scope of this letter. PEMSTAR is also qualified to assist in
  working with you in most of those areas should you require.

                                      -11-
<PAGE>

Assumptions:
------------
 .  UltraCard will own the design and all documentation for the UltraCard
   Writer/Reader.
 .  UltraCard will provide input consultation to facilitate drafting of
   requirements specification.
 .  UltraCard will provide PCB outline and height map input for mechanical
   packaging.
 .  Pemstar will provide engineering and technician support in UltraCard's
   Campbell facility after delivery to assist in issue resolution.
 .  Testing will consist of functional performance verification of each mechanism
   for which PEMSTAR is responsible.
 .  PEMSTAR will welcome any visits by UltraCard to the PEMSTAR facility during
   any phase of work, though no visits are required for this plan--all Design
   Reviews will be at the UltraCard site.
 .  Product cost is to be one of the driving factors in the design.
 .  Selected MTBF target will be used for design purposes and supported by design
   calculations for the portion of the mechanism in PEMSTAR's scope of work.
   Testing actual MTBF will be beyond the scope of Phase 2.
 .  UltraCard will participate in selection and approval of major component
   suppliers.

Approach:
---------

  Phase 1 -- Product definition and Concept Development
  -----------------------------------------------------
  Begin by consulting with UltraCard representatives to refine and complete the
  input requirements specification. Next, prepare concept alternatives, analyze
  each to determine expected performance, and make cost comparisons. Then review
  and select best concept with UltraCard. After selecting best path, prepare
  detailed design specification for the product and prepare a design
  verification test plan. Review and modify both with UltraCard representatives.
  Update proposal for Phase 2 with any improved accuracy possible from Phase 1
  work.

  Phase 2a - Design
  -----------------
  Design and select all system components for the major subsystems of X- and Y-
  Positioning, Card Handling, Media Extraction, Frame with mechanism and PCB
  mounting, and packaging. Selection (with UltraCard's qualification) of major
  component suppliers. Definition of control requirements for each operating
  mechanism, to be used by UltraCard as Software Requirements and Electronics
  Requirements inputs. Detailed part and assembly drawings suitable for
  fabrication, assembly, and quality control. Stereolithographic or fast shop
  prototypes of any parts necessary to make design decisions. Close
  communications will be maintained during design work to ensure continuing
  UltraCard visibility and influence. This sub-Phase will end with a complete
  Design Review with UltraCard and incorporation of any modifications resulting
  from that review.

                                      -12-
<PAGE>

  Phase 2b - Build, Test, and Install
  -----------------------------------
  Fabricate and procure all parts, then integrate them at our San Jose facility.
  Perform all functional testing and ensure fit of parts, setup, and proper
  throughput capability. Test to Design Specification requirements, workmanship
  and safety standards, and document results. Modify anything not meeting
  specifications or intended function, and update documentation. Deliver to
  UltraCard Campbell site for mating with electronics and operationally testing.
  Participate in UltraCard acceptance testing, and support design changes as
  necessary.

Deliverables:
-------------

  Phase 1 -- Product definition and Concept Development
  -----------------------------------------------------
  .  Initial review of product definition and requirements input document.
  .  Refinement of same to specifically address choices and alternatives in
     requirements.
  .  Concept descriptions and sketches of two or three candidates.
  .  Cost and performance analyses of each concept.
  .  Concept Review with UltraCard.
  .  Design Specification
  .  Design Verification Test plan.
  .  Critical Success Factors identification.
  .  Updated Proposal for Phase 2.
  .  Weekly activity and progress reports.

  Phase 2a - Design
  -----------------
  .  Documented design of all fabricated components.
  .  Selection of all purchased components.
  .  Selection of suppliers for major components.
  .  Full system assembly drawings and BOM.
  .  Interface requirements for electronics and software.
  .  System Design Review at UltraCard Campbell site.
  .  Incorporation of Design Review output requirements.
  .  Weekly activity and progress reports.

  Phase 2b - Build, Test, and Deliver
  -----------------------------------
  .  Procurement of all prototype parts.
  .  Critical parts receiving and inspection.
  .  Integration of full system at Pemstar site.
  .  Pre-delivery de-bugging and design modifications.
  .  Verification test per plan from Phase 1.
  .  Test report.
  .  Delivery of 3 to 5 prototypes to UltraCard Campbell site.
  .  UltraCard location follow-up and problem solving, design tweaks, EC
     processing.
  .  Weekly activity and progress reports.

                                      -13-
<PAGE>

Schedule:
---------
  The schedule shown in Figure 1 arbitrarily assumes a start date of May 1, 2000
  and culminates with prototype delivery October 6, 2000. All progress estimates
  are with respect to the actual start date.

Cost:
-----
  The cost and duration values given are estimates. They reflect the development
  plan and our assessment of the personnel resources needed to implement it. The
  cost and duration estimates for each phase will be reevaluated and updated
  upon completion of the preceding phase. Travel is not expected to be a
  significant factor in this project, except as UltraCard may choose to pursue
  evaluation of remote suppliers for major components. Most materials will be
  marked up 25%, but some higher priced items may be marked up significantly
  less, depending on PEMSTAR's effort in the procurement. Some items such as
  tooling may be recommended for direct purchase by UltraCard for this reason.
  The actual cost of the program will only be billed as time and materials are
  applied.

  Our labor rates are shown here:

          --------------------------------------------
                                               $/Hr
          --------------------------------------------
           Program Manager                      125
          --------------------------------------------
           Engineer                             110
          --------------------------------------------
           Designer                              75
          --------------------------------------------
           Technician                            60
          --------------------------------------------

  The estimated program costs are shown here:

     -----------------------------------------------------------------------
                        Labor          Travel        Material       Total
     -----------------------------------------------------------------------
     PHASE              $46k              0             0        $      46k
     1
     -----------------------------------------------------------------------
     PHASE          $120k- 200k        $2k-8k        $3k-12k     $125k-220k
     2a
     -----------------------------------------------------------------------
     PHASE          $100k-$140k       $5k-$10k       $50k-90k    $155k-$240k
     2b
     -----------------------------------------------------------------------

  Terms: The cost will be invoiced net 30 days. FOB San Jose, CA.
  Proposal is valid for 30 days.

Conclusion:
-----------
  This proposal is based on the estimated costs shown. Invoices will reflect
  actual costs. Pemstar will make every effort to minimize schedule, labor, and
  material costs for the benefit of its customer, while delivering quality
  product and service.

                                      -14-
<PAGE>

  It is PEMSTAR's policy, and our personal commitment, to treat UltraCard and
  all our customers fairly and openly. We will not low-ball bid. This should be
  considered when evaluating our estimates if they appear higher than expected.
  We believe you will be pleased with this way of doing business, and we believe
  the amount you would spend with PEMSTAR will be spent with any supplier, even
  if their initial estimate is lower. By working on a time-and-materials basis,
  we do not have to charge you for the uncertainty, and we are continually
  flexible to your directions.

  In the disk drive industry, a team of engineers typically spends 6-9 months
  designing a product, and that is usually similar to a previous design. While
  zero-based budgeting for the tasks recognized at the beginning of the project
  predict less effort, the technical content and innovation involved always
  produces schedule overruns if the schedule is not designed to include the
  unexpected. The UltraCard Writer/Reader is a new product with many
  similarities to disk drives, and may be expected to experience a similar
  birth. Therefore, the zero-based budgeting used to generate the estimates here
  are conservatively adjusted to reflect this industry experience.

  We at PEMSTAR will treat your proprietary information with care. We respect
  your need for confidentiality and will act to protect it with privacy screens,
  document shredding, and avoidance of conflicting application of resources, as
  required.

Thank you for the opportunity to bid on this engineering project for UltraCard,
Inc. Please let me know if you have any questions regarding this proposal.

  Sincerely,

  Jim Starr
  Project Manager
  (408) 918-5303
  jim.starr@pemstar.co
  --------------------

                                      -15-
<PAGE>

                               Figure 1 Schedule

UltraCard Reader/Writer Development

<TABLE>
<CAPTION>
 #                     Task Name                      Qtr2, 2000                             Qtr 3, 2000         Qtr4, 2000
-----------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------
 ----------------------------------------------------------------------------------------------------------------------------------
 <S>                   <C>                            <C>                                    <C>                 <C>
  10  Phase 1-Spec and Concept
--------------------------------------------------
   1  Program Management
--------------------------------------------------
   2  Requirements Specification
--------------------------------------------------
   3  Concept Generation                                                                   [Bar chart data]
--------------------------------------------------
   4  Concept Analysis
--------------------------------------------------
   5  Concept Design Review
--------------------------------------------------
   6  Design Specification
--------------------------------------------------
   7  Design Verification Test Spec
--------------------------------------------------
   8  Spec Review w/cust and modify
--------------------------------------------------
   9  Phase 2 Plan Update
--------------------------------------------------
  11  Phase 2a--Design
--------------------------------------------------
  12  Program Management
--------------------------------------------------
  13  X-positioner
--------------------------------------------------
  14  Y-positioner
--------------------------------------------------
  15  Card handling mechanism
--------------------------------------------------
  16  Strip Extraction mechanism
--------------------------------------------------
  17  Interconnecting pieces
--------------------------------------------------
  18  Frame and structure
--------------------------------------------------
  19  Packaging
--------------------------------------------------
  20  Electrical interfaces
--------------------------------------------------
  21  Software Requirements Spec
--------------------------------------------------
  22  Stereolithographic models
--------------------------------------------------
  23  Major Design Review
--------------------------------------------------
  24  Design Review Changes
--------------------------------------------------
  25  Phase 2b--Proto and Mod
--------------------------------------------------
  26  Program Management
--------------------------------------------------
  27  Procurement
--------------------------------------------------
  28  Build and test X-Y positioners
--------------------------------------------------
  29  Improve design
--------------------------------------------------
  30  Re-build X-Y positioners
--------------------------------------------------
  31  Test again
--------------------------------------------------
  32  Build and test Card handler
--------------------------------------------------
  33  Improve design
--------------------------------------------------
  34  Build and test balance of box
--------------------------------------------------
  35  Modifications and Rebuilds
--------------------------------------------------
  36  Demo, review
--------------------------------------------------
  37  Final modifications, delivery
--------------------------------------------------
  38  Finalize Documentation
--------------------------------------------------
  39  After delivery support
--------------------------------------------------
  40  UltraCard Prod Orders Placed
--------------------------------------------------
  40  UltraCard Prod Orders
-----------------------------------------------------------------------------------------------------------------------------------
</TABLE>

                                      -16-

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