Document:

Filed by Automated Filing Services Inc. (604) 609-0244 - Turinco, Inc. - Exhibit 10.4

TURINCO, INC. 

STOCK OPTION AGREEMENT
 (2006 Stock Option Plan –
Consultant) 

This STOCK OPTION AGREEMENT is made effective as of this
u day of u, 200u between TURINCO, INC., a Nevada
corporation, (the “Company”) and [NAME OF CONSULTANT] (the
“Consultant”).

BACKGROUND 

A.                The
Consultant has been retained to provide consulting services to the Company
pursuant to the terms and conditions of a Consulting Agreement made effective as
of January 1, 2006 between the Company and the Consultant, under which the
Company has agreed to issue to the Consultant the option to acquire up to an
aggregate of [Number of Options] (Number of Options) shares of common stock of
the Company upon the terms and subject to the conditions provided herein.

B.                The
Company has adopted the 2006 Stock Option Plan (the “Plan”) pursuant to which
shares of common stock of the Company have been reserved for issuance under the
Plan. 

NOW, THEREFORE, the parties hereto agree as follows:

Grant of Option 

1.                The
Company hereby irrevocably grants under the Plan to the Consultant the right and
option (hereinafter referred to as the “Option”) to purchase from the Company
all or any portion of an aggregate of [Number of Options] (Number of Options)
shares of common stock of the Company (the “Shares”) subject to the terms and
conditions herein set forth. 

2.                The
number of Shares granted will be subject to adjustment pursuant to the terms of
the Plan. 

Exercise Price 

3.                The
exercise price of the Shares covered by the Option shall be $u per
Share.

Exercise and Vesting of Option 

4.                The
Option will vest on the following dates (each a “Vesting Date”):

	Number of Vested Options 	Date of Vesting 
	u 	u
	u	u 
	u 	u

5.                Except
as provided in Section 7 of this Agreement, the Option will only be exercisable
with respect to that portion of the Option that has vested. 

6.                In
the event of termination of the Option prior to any Vesting Date, that portion
of the Option scheduled to vest on such Vesting Date, and all portions of the
Option scheduled to vest in the 

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future, shall not vest and all of the Consultant’s rights to
and under such non-vested portions of the Option shall terminate. 

Term of Option 

7.                To
the extent vested, and except as otherwise provided in this Agreement, the
Option shall be exercisable until u (the “Expiration Date”). This
Agreement and the right of the Consultant to exercise the Option will terminate
upon the earliest of the following dates: 

(a)      the date which is three (3)
months from the date on which the Consultant ceases to be a Consultant of the
Company or any subsidiary of the Company, if applicable; 

(b)      in the event of the
termination of the Consultant for Cause (as defined in the Plan), the earliest
date on which the Consultant is terminated as a Consultant; 

(c)      the
date which is one (1) year from the date of the Consultant’s death, in the event
of termination as a result of the death of the Consultant; or 

(d)      the Expiration Date. 

Upon termination of this Agreement and the right of Consultant
to exercise the Option as set forth above, the Option shall terminate and become
null and void. 

Manner of Exercising Option 

8.               
Subject to the terms and conditions of this Agreement, the Option may be
exercised, in whole or in part, by giving written notice to the Company,
specifying the number of Shares to be purchased and accompanied by the full
exercise price for such Shares. Any such notice shall be deemed given when
received by the Company at its corporate headquarters. The exercise price shall
be payable: 

(a)      in
United States dollars upon exercise of the Option and may be paid by cash,
uncertified or certified check or bank draft; or 

(b)      at the election and sole
discretion of the Company, in such other manner as is permitted pursuant to the
Plan.

All Shares that shall be issued upon the exercise of the Option
as provided herein shall be issued as fully paid and non-assessable shares of
the Company’s common stock. 

Rights of Option Holder 

9.                The
Consultant, as holder of the Option, shall not have any of the rights of a
shareholder with respect to the Shares covered by the Option except to the
extent that one or more certificates for such Shares shall be delivered to him
or her upon the due exercise of all or any portion of the Option. 

Non-Transferability 

10.               The
Option shall not be transferred, pledged or assigned except as provided in the
Plan. 

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No Right to Continue as Consultant or Right to Corporate
Assets 

11.               Nothing
contained in this Agreement shall be deemed to grant the Consultant any right to
continue as a consultant of the Company for any period of time or to any right
to continue his or her present or any other rate of compensation, nor shall this
Agreement be construed as giving the Consultant, the Consultant’s beneficiaries
or any other person any equity or interests of any kind in the assets of the
Company or creating a trust of any kind or a fiduciary relationship of any kind
between the Company and any such person. 

Securities Law Matters 

12.               The
Consultant acknowledges that the Shares to be received by him or her upon
exercise of the Option have not been registered under the Securities Act of
1933, as amended, or the Blue Sky laws of any state (collectively, the
“Securities Acts”). The Consultant acknowledges and understands that the Company
is under no obligation to register, under the Securities Acts, the Shares
received by him or her or to assist him or her in complying with any exemption
from such registration if he or she should at a later date wish to dispose of
the Shares. The Consultant acknowledges that if the Shares are not registered
under the Securities Acts at the time of the exercise of the Option, or any part
thereof, the Shares shall bear a legend restricting the transferability thereof,
such legend to be substantially in the following form: 

  “The shares represented by this certificate have
    not been registered or qualified under the Securities Act of 1933, as amended,
    or state securities laws. The shares may not be offered for sale, sold, pledged
    or otherwise disposed of unless so registered or qualified, unless an exemption
    exists or unless such disposition is not subject to the federal or state securities
    laws, and the Company may require that the availability of any exemption or
    the inapplicability of such securities laws be established by an opinion of
    counsel, which opinion of counsel shall be reasonably satisfactory to the
    Company.” 

Consultant Representations 

13.               The
Consultant hereby represents and warrants that: 

(a)      the Consultant has reviewed
with his or her own tax advisors all applicable tax consequences of the
transactions contemplated by this Agreement. The Consultant is relying solely on
such advisors and not on any statements or representation of the Company or any
of its agents. The Consultant understands that he or she will be solely
responsible for any tax liability that may result to him or her as a result of
the transactions contemplated by this Agreement;

(b)      the
Consultant has been advised to obtain his or her own legal advice in connection
with the execution of this Agreement; and 

(c)      the
Option, if exercised, will be exercised for investment purposes and not with a
view to the sale or distribution of the Shares to be received upon exercise
thereof. 

The Plan 

14.               The
Option is granted pursuant to the Plan and is governed by the terms thereof,
which are incorporated herein by reference. In the event of any conflict or
inconsistency between the provisions of this Agreement and those of the Plan,
the provisions of the Plan shall govern and control. 

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Governing Law 

15.               This
Agreement, in its interpretation and effect, shall be governed by the laws of
the State of Nevada applicable to contracts executed and to be performed
therein. 

Further Assurances 

16.               Each
party hereto agrees to execute such further papers, agreements, assignments or
documents of title as may be necessary or desirable to affect the purposes of
this Agreement and carry out its provisions. 

Entire Agreement 

17.               This
Agreement and the Plan embody the entire agreement made between the parties
hereto with respect to the matters covered herein and shall not be modified
except in writing signed by the party to be charged. 

Counterparts 

18.               This
Agreement may be executed in any number of counterparts and by facsimile, each
of which shall be deemed an original, and all of which shall constitute but one
and the same agreement. 

TURINCO, INC. 

 

	Per: 		 
	 	Michael Jervis 	 
	 	President 	 

	Signature of Consultant 	 	 
	 	 	 
	Name of Consultant 	 	 
	 	 	 
	Address of ConsultantExhibit
10.1

 

AMENDMENT NO. 2

TO AUTOMATIC ANNUITY
REINSURANCE AGREEMENT

 

This AMENDMENT NO. 2 TO AUTOMATIC ANNUITY
REINSURANCE AGREEMENT, dated as of June 1, 2006 (“Amendment No. 2”) is by and
between ALLSTATE LIFE INSURANCE COMPANY OF NEW YORK (the “Cedent”) and ALLSTATE
LIFE INSURANCE COMPANY (the “Reinsurer”).

 

WHEREAS, the Cedent and the Reinsurer entered into that certain
Automatic Annuity Reinsurance Agreement dated as of January 2, 2004 (as
subsequently amended, the “Agreement”), whereby the Cedent ceded to the
Reinsurer 100% of liabilities arising out of certain variable annuity policy
riders issued by the Cedent.

 

WHEREAS, the Cedent and Reinsurer entered into Amendment No.1 to the
Agreement, effective January 1, 2005.

 

WHEREAS,
the parties mutually desire to terminate the Agreement and to have the Cedent
fully recapture all liabilities ceded pursuant to the Agreement (the “Policy
Liabilities”), upon the terms and conditions set forth in this Amendment No. 2.

 

NOW
THEREFORE, in consideration of the above stated premises and the mutual
agreements set forth below, the parties agree as follows:

 

1.              The Cedent and the Reinsurer
agree that the Agreement shall be deemed terminated as of 11:59 p.m. on June 1,
2006 (“Recapture Date”).  Furthermore, as
of the Recapture Date, the Cedent shall be deemed to have recaptured all Policy
Liabilities from the Reinsurer.  As such,
as of the Recapture Date, the Reinsurer shall be deemed to have;

 

(i)                                     ceded,
transferred, and assigned to the Cedent all Policy Liabilities; and

 

(ii)                                  sold,
transferred, and assigned to the Cedent, any and all of the Reinsurer’s right,
title, and interest in and to all gross premiums, premium adjustments, amounts
recoverable from reinsurers, and other similar payments and receivables that
are or may be due or payable  under the
Reinsured Riders.

 

The parties shall cooperate with each other in delivering such other
documents, instruments and certificates as the other party may reasonably
request to further effectuate this recapture.

 

The Cedent and the Reinsurer agree that this recapture is being
effected by mutual agreement under the terms of this Amendment No. 2.  The terms of Article IX of the Agreement are
inapplicable to this recapture.

 

 

2.              Within forty-five (45)
calendar days following the Recapture Date, the Reinsurer shall transfer to the
Cedent cash or invested assets including accrued interest with market value
equal to the statutory reserves associated with the recaptured
liabilities.  The applicable portion of
these items will be calculated as of the Recapture Date.

 

Initially capitalized terms not otherwise defined herein shall have the
same meaning as set forth in the Agreement.

 

IN
WITNESS HEREOF, the parties hereto have caused this AMENDMENT NO. 2 TO
AUTOMATIC ANNUITY REINSURANCE AGREEMENT to be executed by their respective duly
authorized officers as of the date first above written.

 

ALLSTATE
LIFE INSURANCE COMPANY OF NEW YORK

 

	
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ALLSTATE
LIFE INSURANCE COMPANY

 

	
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