Document:

Exhibit 10.6

 

ICOP DIGITAL, INC.

 

2002
STOCK OPTION PLAN

 

ARTICLE I

PURPOSE

 

The
purpose of the ICOP Digital, Inc. Stock Option Plan (the “Plan”) is to
attract and retain directors, officers, other employees and consultants of ICOP
Digital, Inc. and its subsidiaries (collectively the “Company”) and to
provide such persons with incentives to continue in the long-term service of
the Company and to create in such persons a more direct interest in the future
success of the operations of the Company by relating incentive compensation to
increases in stockholder value.

 

ARTICLE II

STRUCTURE OF THE PLAN

 

The
Plan is divided into three separate programs:

 

A.                                   The
Discretionary Stock Option Grant Program under which eligible persons may, at
the discretion of the Committee or the Board, be granted Stock Options;

 

B.                                     The
Restricted Stock Program under which eligible persons may, at the discretion of
the Committee or the Board, be granted rights to receive shares of Common
Stock, subject to certain restrictions; and

 

C.                                     The
Supplemental Bonus Program under which eligible persons may, at the discretion
of the Committee or the Board, be granted a right to receive payment, in cash,
shares of Common Stock, or a combination thereof, of a specified amount.

 

ARTICLE III

DEFINITIONS

 

As
used in this Plan:

 

“10% Stockholder” shall mean any owner of stock (as
determined under Section 424(d) of the Code) possessing more than ten
percent (10%) of the total combined voting power of all classes of stock of the
Company or any Subsidiary.

 

“Award”
shall mean a grant made under this Plan in the form of Stock Options,
Restricted Stock or Supplemental Bonuses.

 

“Board”
shall mean the Company’s Board of Directors.

 

 

“Change
in Control” shall mean a change in ownership or control of the Company effected
through any of the following transactions:

 

1.                                       The
acquisition, directly or indirectly by any person or group (within the meaning
of Sections 13(d) and 14(d)(2) of the Exchange Act) other than a
trustee or other fiduciary holding securities under an employee benefit plan of
the Company, of beneficial ownership (within the meaning of Rule 13d-3 of
the Exchange Act) of securities possessing more than thirty percent (30%) of
the total combined voting power of the Company’s outstanding securities;

 

2.                                       A
change in the composition of the Board over a period of eighteen (18)
consecutive months or less such that fifty percent (50%) or more of the Board
members cease to be directors who either (A) have been directors
continuously since the beginning of such period or (B) have been
unanimously elected or nominated by the Board for election as directors during
such period;

 

3.                                       A
stockholder-approved merger or consolidation to which the Company is a party
and in which (A) the Company is not the surviving entity or (B) securities
possessing more than thirty percent (30%) of the total combined voting power of
the Company’s outstanding securities are transferred to a person or persons
different from the persons holding those securities immediately prior to such
transaction; or

 

4.                                       The
sale, transfer or other disposition of all or substantially all of the Company’s
assets in complete liquidation or dissolution of the Company.

 

“Code” shall mean the Internal Revenue Code of 1986,
as amended from time to time.

 

“Committee” shall mean the Employee Committee and/or
the Incentive Plan Committee, as applicable.

 

“Common Stock” shall mean the Company’s common stock,
..01 par value.

 

“Company”
shall mean ICOP Digital, Inc., a Nevada corporation.

 

“Date
of Grant” shall mean the date specified by the Committee on which a grant of an
Award shall become effective, which shall not be earlier than the date on which
the Committee takes action with respect thereto.

 

“Employee”
shall mean an individual who is in the employ of the Company or any Subsidiary.

 

“Employee Committee” shall mean a committee composed
of at least one member of the Board of Directors who may, but need not, be a
Non-Employee Director. The Employee Committee is empowered hereunder to grant
Awards to Eligible Employees who are not directors or “officers” of the Company
as that term is defined in Rule 16a-1(f) of the Exchange Act nor “covered
employees” under Section 162(m) of the Code, and to establish the terms of
such Awards at the time of grant, but shall have no other authority with
respect to the Plan or

 

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outstanding Awards except as expressly granted by the Plan.

 

“Exchange Act” shall mean the Securities Exchange Act
of 1934, as amended.

 

“Fair
Market Value” of a share of Common Stock on any relevant date shall be
determined in accordance with the following provisions:

 

1.                                       If
the Common Stock is at the time listed on any stock exchange, or traded on the
Nasdaq National Market, or any other securities trading market that reports
daily the closing selling price per share of Common Stock, the Fair Market
Value shall be deemed equal to the closing selling price per share of Common
Stock on the date in question on the stock exchange or other securities trading
market determined by the Committee to be the primary market for the Common
Stock, as such price is officially quoted on such exchange or trading market.

 

2.                                       If
there is no closing selling price for the Common Stock on the date in question,
or if the Common Stock is neither listed on a stock exchange or traded on a
securities trading market that reports daily the closing selling price per
share of the Common Stock, then the Fair Market Value shall be deemed to be the
average of the representative closing bid and asked prices on the date on
question as reported by the Nasdaq Stock Market or other reporting entity
selected by the Committee.

 

3.                                       In
the event the Common Stock is not traded publicly, the Fair Market Value of a
share of Common Stock shall be determined, in good faith, by the Committee
after such consultation with outside legal, accounting and other experts as the
Committee may deem advisable, and the Committee shall maintain a written record
of its method of determining such value.

 

“Incentive Plan Committee”
shall mean a committee consisting entirely of Non-Employee Directors of the
Board, who are empowered hereunder to take all action required in the
administration of the Plan and the grant and administration of Awards
hereunder. The Incentive Plan Committee shall be so constituted at all times as
to permit the Plan to comply with Rule 16(a) 3 or any successor rule promulgated
under the Exchange Act. Members of the Incentive Plan Committee shall be
appointed from time to time by the Board, shall serve at the pleasure of the
Board and may resign at any time upon written notice to the Board.
Notwithstanding the foregoing, at any time that there are fewer than two
Non-Employee Directors on the Board or when no Incentive Plan Committee has
been appointed by the Board, all powers of the Incentive Plan Committee shall
be vested in the Board.

 

“Incentive
Stock Option” shall mean a Stock Option that (i) qualifies as an “incentive
stock option” under Section 422 of the Code or any successor provision;
and (ii) is intended to be an incentive stock option.

 

“Non-Employee Director” shall mean a director of the
Company who meets the definition of (i) a “non-employee director” set
forth in Rule 16b-3 under the Exchange Act, as amended, or any successor
rule; and (ii) an “outside director” set forth in Treasury Regulation 1.
162-27, as amended, or any successor rule.

 

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“Non-Statutory Option” shall mean a Stock Option that (i) does
not qualify as an “incentive stock option” under Section 422 of the Code
or any successor provision; or (ii) is not intended to be an incentive
stock option.

 

“Optionee”
shall mean the person so designated in an agreement evidencing an outstanding
Stock Option.

 

“Option
Price” shall mean the purchase price payable by a Participant upon the exercise
of a Stock Option.

 

“Participant”
shall mean a person who is selected by the Committee to receive benefits under
this Plan and (i) is at that time a director, officer or other Employee of
the Company or any Subsidiary; (ii) is at that time a consultant or other
independent advisor who provides services to the Company or a Subsidiary; or (iii) has
agreed to commence serving in any capacity set forth in (i) or (ii) of
this definition.

 

“Plan”
shall mean the Company’s Stock Option Plan as set forth herein.

 

“Plan
Effective Date” shall mean June 19, 2002, the date on which this Plan was
approved by the Company’s Board of Directors.

 

“Redemption
Value” shall mean the amount, if any, by which the Fair Market Value of one
share of Common Stock on the date on which the Stock Option is exercised
exceeds the Option Price for such share.

 

“Restricted
Stock” shall mean shares of Common Stock granted under Article VII that
are subject to restrictions imposed pursuant to said Article.

 

“SEC” shall mean the U.S. Securities and Exchange
Commission and any successor thereto.

 

“Stock
Option” shall mean a right granted under the Plan to a Participant to purchase
Common Stock at a stated price for a specified period of time.

 

“Subsidiary”
shall mean a corporation, partnership, joint venture, unincorporated
association or other entity in which the Company has a direct or indirect
ownership or other equity interest; provided, however, for purposes of
determining whether any person may be a Participant for purposes of any grant
of Incentive Stock Options,

 

“Subsidiary” means any subsidiary corporation of the
Company as defined in Section 424(f) of the Code.

 

“Supplemental
Bonus” shall mean the right to receive payment in cash of an amount determined
pursuant to Article IX of this Plan.

 

“Term” shall mean the length of time during which a
Stock Option may be exercised.

 

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ARTICLE IV

ADMINISTRATION
OF THE PLAN

 

A.                                   Delegation
to the Committee.  This Plan shall be
administered by the Incentive Plan Committee. References herein to the “Committee”
shall mean the Employee Committee and/or the Incentive Plan Committee, as
applicable. References herein to the Incentive Plan Committee refer solely to
the Incentive Plan Committee.

 

Members
of the Incentive Plan Committee and the Employee Committee shall serve for such
period of time as the Board may determine and may be removed by the Board at
any time. The action of a majority of the members of the Incentive Plan
Committee and the Employee Committee present at any meeting, or acts
unanimously approved in writing, shall be the acts of the Incentive Plan
Committee and the Employee Committee, respectively.

 

B.                                     Powers
of the Committee.  The Incentive Plan
Committee shall have full power and authority, subject to the provisions of
this Plan, to establish such rules and regulations as it may deem
appropriate for proper administration of this Plan and to make such
determinations under, and issue interpretations of, the provisions of this Plan
and any outstanding Awards as it may deem necessary or advisable. In addition,
the Incentive Plan Committee shall have full power and authority to administer
and interpret the Plan and make modifications as it may deem appropriate to
conform the Plan and all actions pursuant to the Plan to any regulation or to
any change in any law or regulation applicable to this Plan.

 

C.                                     Actions
of the Committee. All actions taken and all interpretations and
determinations made by the Committee in good faith (including determinations of
Fair Market Value) shall be final and binding upon all Participants, the
Company and all other interested persons. No director or member of the
Committee shall be personally liable for any action, determination or
interpretation made in good faith with respect to the Plan, and all directors
and members of the Committee shall, in addition to their rights as directors,
be fully protected by the Company with respect to any such action,
determination or interpretation.

 

D.                                    Awards
to Officers and Directors.

 

1.                                       All
Awards to officers shall be determined by the Incentive Plan Committee. If the
Incentive Plan Committee is not composed as prescribed in the definition of
Incentive Plan Committee in Article III, the Board shall have the right to
take such action with respect to any Award to an officer as it deems necessary
or advisable to comply with Rule 16b-3 of the Exchange Act and any related
rules, including but not limited to seeking stockholder ratification of such
Award or restricting the sale of the Award or any shares of Common Stock
underlying the Award for a period of six months.

 

2.                                       Discretionary
awards to Non-Employee Directors, if any, shall be determined by the Board.

 

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ARTICLE V

ELIGIBILITY

 

A.                                   Discretionary
Stock Option Grant Program, Restricted Stock Program and  Supplemental
Bonus Program.  The persons eligible
to participate in the Discretionary Stock Option Grant Program, the Restricted
Stock Program and the Supplemental Bonus Program are as follows:

 

1.                                       Employees
of the Company or a Subsidiary;

 

2.                                       Members
of the Board; and

 

3.                                       Consultants
and other independent advisors who provide services to the Company or a
Subsidiary.

 

B.                                     Selection
of Participants.  The Committee shall
from time to time determine the Participants to whom Awards shall be granted
pursuant to the Discretionary Stock Option Grant Program, the Restricted Stock
Program and the Supplemental Bonus Program.

 

ARTICLE VI

SHARES AVAILABLE UNDER THE PLAN

 

A.                                   Maximum
Number. The number of shares of Common Stock issued or transferred and
covered by outstanding awards granted under this Plan shall not in the
aggregate exceed 5,000,000 shares of Common Stock, which may be Common Stock of
original issuance or Common Stock held in treasury, or a combination thereof.
This authorization shall be increased automatically on each succeeding annual
anniversary of the Plan Effective Date by an amount equal to that number of
shares equal to one-half of one percent of the Company’s then issued and
outstanding shares of Common Stock. The shares may be divided among the various
Plan components as the Incentive Plan Committee shall determine, except that no
more than 3,000,000 shares shall be issued in connection with the exercise of
Incentive Stock Options under the Plan. Any portion of the shares added on each
succeeding anniversary of the Plan Effective Date which are unused during the
Plan year beginning on such anniversary date shall be carried forward and be
available for grant and issuance in subsequent Plan years, while up to 100% of
the shares to be added in the next succeeding Plan year (calculated on the
basis of the current Plan year’s allocation) may be borrowed for use in the
current Plan year. Shares of Common Stock that may be issued upon the exercise
of Stock Options shall be applied to reduce the maximum number of shares
remaining available for use under the Plan. The Company shall at all times
during the term of the Plan, and while any Stock Options are outstanding,
retain as authorized and unissued Common Stock or as treasury Common Stock, at
least the number of shares of Common Stock required under the provisions of
this Plan, or otherwise assure itself of its ability to perform its obligations
hereunder.

 

B.                                     Unused
and Forfeited Stock. The following shares of Common Stock shall
automatically become available for use under the Plan: (i) any shares of
Common Stock that are subject to an Award under this Plan that are not used
because the terms and conditions of the

 

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Award are not met,
including any shares of Common Stock that are subject to a Stock Option that
expires or is terminated for any reason; (ii) any shares of Common Stock
with respect to which a Stock Option is exercised that are used for full or
partial payment of the Option Price; and (iii) any shares of Common Stock
withheld by the Company in satisfaction of the withholding taxes incurred in
connection with the exercise of a Non-Statutory Option.

 

C.                                     Capital
Changes. If any change is made to the Common Stock by reason of any stock
split, stock dividend, recapitalization, combination of shares, exchange of
shares or other change affecting the outstanding Common Stock as a class
without the Company’s receipt of consideration, appropriate adjustments shall
be made to (i) the maximum number and/or class of securities issuable
under the Plan; (ii) the number and/or class of securities for which
grants are subsequently to be made pursuant to Article VI of this Plan;
and (iii) the number and/or class of securities then included in each
Award outstanding hereunder and the Option Price per share in effect under each
outstanding Stock Option under this Plan. Such adjustments to the outstanding
Stock Options are to be effected in a manner that shall preclude the
enlargement or dilution of rights and benefits under such Stock Options. The
adjustments determined by the Committee shall be final, binding and conclusive.

 

ARTICLE VII

DISCRETIONARY STOCK OPTION GRANT PROGRAM

 

A.                                   Discretionary
Grant of Stock Options to Participants. The Committee may from time to time
authorize grants to Participants of options to purchase shares of Common Stock
upon such terms and conditions as the Committee may determine in accordance
with the following provisions (in connection with any grants under this
paragraph VII.A to Non-Employee Directors, “Committee” shall mean the entire
Board of Directors):

 

1                                          Each
grant shall specify the number of shares of Common Stock to which it pertains.

 

2.                                       Each
grant shall specify the Option Price per share.

 

3.                                       Each
grant shall specify the form of consideration to be paid in satisfaction of the
Option Price and the manner of payment of such consideration, which may include
(i) cash in the form of currency or check or other cash equivalent
acceptable to the Company; (ii) shares of Common Stock that are already
owned by the Optionee and have a Fair Market Value at the time of exercise that
is equal to the Option Price; (iii) shares of Common Stock with respect to
which a Stock Option is exercised; (iv) a recourse promissory note in
favor of the Company; (v) any other legal consideration that the Committee
may deem appropriate; and (vi) any combination of the foregoing.

 

4.                                       Any
grant may provide for deferred payment of the Option Price from the proceeds of
sale through a broker of some or all of the shares of Common Stock to which the
exercise relates.

 

5.                                       Any
grant may provide that shares of Common Stock issuable upon the

 

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exercise of a Stock
Option shall be subject to restrictions whereby the Company has the right or
obligation to repurchase all or a portion of such shares if the Participant’s
service to the Company is terminated before a specified time, or if certain
other events occur or conditions are not met.

 

6.                                       Successive
grants may be made to the same Participant regardless of whether any Stock
Options previously granted to the Participant remain unexercised.

 

7.                                       Each
grant shall specify the conditions to be satisfied before the Stock Option or
installments thereof shall become exercisable, which conditions may include a
period or periods of continuous service by the Optionee to the Company or any
Subsidiary, the attainment of specified performance goals and objectives, or
the occurrence of specified events; as may be established by the Committee with
respect to such grant.

 

8.                                       All
Stock Options that meet the requirements of the Code for incentive stock
options shall be Incentive Stock Options unless (i) the option agreement
clearly designates the Stock Options granted thereunder, or a specified portion
thereof, as a Non-Statutory Option; or (ii) a grant of Incentive Stock
Options to the Participant would be prohibited under the Code or other
applicable law.

 

9.                                       Each
grant shall specify the Term of the Stock Option, which Term shall not be
greater than 10 years from the Date of Grant.

 

10.                                 Each
grant shall be evidenced by an agreement, which shall be executed on behalf of
the Company by any officer thereof and delivered to and accepted by the
Optionee and shall contain such terms and provisions as the Committee may
determine consistent with this Plan.

 

B.                                     Special
Terms Applicable to Incentive Stock Options. The following additional terms
shall be applicable to all Incentive Stock Options granted pursuant to this
Plan. Stock Options that are specifically designated as Non-Statutory Options
shall not be subject to the terms of this paragraph VII.B.

 

1.                                       Incentive
Stock Options shall be granted only to Employees of the Company or a
Subsidiary.

 

2.                                       The
Option Price per share shall not be less than the Fair Market Value per share
of Common Stock on the Date of Grant.

 

3.                                       The
aggregate Fair Market Value of the shares of Common Stock (determined as of the
respective Date(s) of Grant) with respect to which Incentive Stock Options
granted to any Employee under the Plan (or any other plan of the Company or a
Subsidiary) are exercisable for the first time during any one calendar year
shall not exceed the sum of One Hundred Thousand Dollars ($100,000). To the
extent the Employee holds two (2) or more such Stock Options that become
exercisable for the first time in the same calendar year, the foregoing
limitation on the treatment of such Stock Options as Incentive Stock Options
shall be applied on the basis of the order in which such Stock Options are
granted.

 

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4.                                       If
any Employee to whom an Incentive Stock Option is granted is a 10% Stockholder,
then the Option Price per share shall not be less than one hundred ten percent
(110%) of the Fair Market Value per share of Common Stock on the Date of Grant,
and the Option Term shall not exceed five (5) years measured from the Date
of Grant.

 

ARTICLE VIII

RESTRICTED
STOCK PROGRAM

 

A.                                   Awards
Granted.  Coincident with or
following designation for participation in the Plan, a Participant may be
granted one or more Restricted Stock Awards consisting of shares of Common
Stock. The number of shares granted as a Restricted Stock Award shall be
determined by the Committee.

 

B.                                     Restrictions.  A Participant’s right to retain a Restricted
Stock Award granted to such Participant under Article VII.A shall be
subject to such restrictions, including but not limited to his or her continuous
employment by the Company for a restriction period specified by the Committee,
or the attainment of specified performance goals and objectives, or the
occurrence of specified events, as may be established by the Committee with
respect to such Award. The Committee may in its sole discretion require
different periods of employment or different performance goals and objectives
with respect to different Participants, to different Restricted Stock Awards or
to separate, designated portions of the shares constituting a Restricted Stock
Award.

 

C.                                     Privileges
of a Stockholder, Transferability.  A
Participant shall have all voting, dividend, liquidation and other rights with
respect to shares of Common Stock in accordance with its terms received by him
or her as a Restricted Stock Award under this Article VIII upon his or her
becoming the holder of record of such shares; provided, however, that the
Participant’s right to sell, encumber or otherwise transfer such shares shall
be subject to the restrictions established by the Committee with respect to
such Award.

 

D.                                    Enforcement
of Restrictions.  The Committee may
in its sole discretion require a legend to be placed on the stock certificates
referring to the restrictions referred to in paragraphs VIII.B. and VIII.C., in
order to enforce such restrictions.

 

ARTICLE IX

SUPPLEMENTAL BONUS  PROGRAM

 

A.                                   Non-Statutory
Stock Options.  The Committee, at the
time of grant or at any time prior to exercise of any Non-Statutory Option, may
provide for a Supplemental Bonus from the Company or a Subsidiary in connection
with a specified number of shares of Common Stock then purchasable, or which
may become purchasable, under such Non-Statutory Option. Such Supplemental
Bonus shall be payable in cash upon the exercise of the Non-Statutory Option
with regard to which such Supplemental Bonus was granted. A Supplemental Bonus
shall not exceed the amount necessary to reimburse the Participant for the
income tax liability incurred by him or

 

9

 

her upon the exercise of
the Non-Statutory Option, calculated using the maximum combined federal and
applicable state income tax rates then in effect and taking into account the
tax liability arising from the Participant’s receipt of the Supplemental Bonus.

 

B.                                     Restricted
Stock Awards.  The Committee, either
at such time as the restrictions with respect to a Restricted Stock Award lapse
or a Section 83(b) election is made under the Code by the Participant
with respect to shares issued in connection with a Restricted Stock Award, may
provide for a Supplemental Bonus from the Company or a Subsidiary. Such
Supplemental Bonus shall be payable in cash and shall not exceed the amount
necessary to reimburse the Participant for the income tax liability incurred by
him or her with respect to shares issued in connection with a Restricted Stock
Award, calculated using the maximum combined federal and applicable state
income tax rates then in effect and taking into account the tax liability
arising from the Participant’s receipt of the Supplemental Bonus.

 

ARTICLE X

TERMINATION
OF SERVICE

 

A.                                   Incentive
Stock Options.  The following
provisions shall govern the exercise of any Incentive Stock Options held by any
Employee whose employment is terminated:

 

1.                                       If
the Optionee’s employment with the Company is terminated for any reason other
than such Optionee’s death, disability or retirement, all Incentive Stock
Options held by the Optionee shall terminate on the date and at the time the
Optionee’s employment terminates,

 

unless the Committee expressly provides in the terms of the Optionee’s
Stock Option Agreement that such Stock Options shall remain exercisable, to the
extent vested on such termination date, for a period of three (3) months
following such termination of employment.

 

2.                                       If
the Optionee’s employment with the Company is terminated because of such
Optionee’s death or disability within the meaning of Section 22(e)(3) of
the Code, all incentive Stock Options held by the Optionee shall become
immediately exercisable and shall be exercisable for a period of twelve (12)
months following such termination of employment.

 

3.                                       In
the event Optionee’s employment is terminated due to retirement, all incentive
Stock Options held by the Optionee shall remain exercisable, to the extent such
Stock Options were exercisable on the date the Optionee’s employment
terminated, for a period of three (3) months following such termination of
employment.

 

4.                                       In
no event may any Incentive Stock Option remain exercisable after the expiration
of the Term of the Stock Option. Upon the expiration of any three (3) or
twelve (12) month exercise period, as applicable, or, if earlier, upon the
expiration of the Term of the Stock Option, the Stock Option shall terminate
and shall cease to be outstanding for any shares for which the Stock Option has
not been exercised.

 

B.                                     Non-Statutory
Options.  The following provisions
shall govern the exercise of any Non-Statutory Options:

 

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1.                                       If
the Optionee’s employment, service on the Board or consultancy is terminated
for any reason other than such Optionee’s death, disability or retirement, all
Non-Statutory Options held by the Optionee shall terminate on the date of such
termination, unless the Committee expressly provides in the terms of the
Optionee’s Stock Option Agreement that such Stock Options shall remain
exercisable, to the extent vested on such termination date, for a specified
period following such termination.

 

2.                                       If
the Optionee’s employment, service on the Board or consultancy is terminated
because of such Optionee’s death or disability, all Non-Statutory Options held
by the Optionee shall become immediately exercisable and shall be exercisable
until the expiration of the Term of such Stock Options.

 

3.                                       If
the Optionee’s employment service on the Board or consultancy is terminated
because of such Optionee’s retirement, all Non-Statutory Options held by the
Optionee shall remain exercisable, to the extent such Stock Options were
exercisable on the date of such termination, until the expiration of the Term
of such Stock Options.

 

4.                                       In
no event may any Non-Statutory Option remain exercisable after the expiration
of the Term of the Stock Option. Upon the expiration of any specified exercise
period following termination of Optionee’s employment, service on the Board or
consultancy, or if earlier, upon the expiration of the Term of the Stock
Option, the Stock Option shall terminate and shall cease to be outstanding for
any shares for which the Stock Option has not been exercised.

 

C.                                     Restricted
Stock Awards.  In the event of the
death or disability (within the meaning of Section 22(e) of the
Internal Revenue Code) or retirement of a Participant, all employment period
and other restrictions applicable to Restricted Stock Awards then held by him
or her shall lapse, and such Awards shall become fully non-forfeitable. Subject
to Articles X and XIV, in the event of a Participant’s termination of
employment for any other reason, any Restricted Stock Awards as to which the
employment period or other restrictions have not been satisfied shall be
forfeited.

 

ARTICLE XI

TRANSFERABILITY
OF STOCK OPTIONS

 

During the lifetime of the Optionee, Incentive Stock
Options shall be exercisable only by the Optionee and shall not be assignable
or transferable. In the event of the Optionee’s death prior to the end of the
Term, any Stock Option may be exercised by the personal representative of the
Optionee’s estate, or by the person(s) to whom the Option is transferred
pursuant to the Optionee’s will or in accordance with the laws of descent and
distribution. Upon the prior written consent of the Board and subject to any
conditions associated with such consent, a Non-Statutory Option may be assigned
in whole or in part during the Optionee’s lifetime to one or more members of
the Optionee’s immediate family (as that term is defined in Rule 16a-l(e) of
the Exchange Act) or to a trust established exclusively for one or more such
family members. In addition, the Board, in its sole discretion, may allow a
Non-Statutory Option to be assigned in

 

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other circumstances deemed appropriate. The terms applicable to the
assigned portion shall be the same as those in effect for the Stock Option
immediately prior to such assignment and shall be set forth in such documents
issued to the assignee as the Committee may deem appropriate. Notwithstanding
any assignment or transfer of a Stock Option, in no event may any Stock Option
remain exercisable after the expiration of the Term of the Stock Option.

 

ARTICLE XII

STOCKHOLDER RIGHTS

 

The holder of a Stock Option shall have no stockholder
rights with respect to the shares subject to the Stock Option until such person
shall have exercised the Stock Option, paid the Option Price and become a
holder of record of the purchased shares of Common Stock.

 

ARTICLE XIII

ACCELERATION OF VESTING

 

The Committee may, at any time in its sole discretion,
accelerate the vesting of any Award made pursuant to this Plan by giving written
notice to the Participant. Upon receipt of such notice, the Participant and the
Company shall amend the agreement relating to the Award to reflect the new
vesting schedule. The acceleration of the exercise period of an Award shall not
affect the expiration date of such Award.

 

ARTICLE XIV

CHANGE IN CONTROL

 

In the event of a Change in Control of the Company,
all Awards outstanding under the Plan as of the day before the consummation of
such Change in Control shall automatically accelerate for all purposes under
this Plan so that each Stock Option shall become fully exercisable with respect
to the total number of shares subject to such Stock Option and may be exercised
for any or all of those shares as fully-vested shares of Common Stock as of
such date, without regard to the conditions expressed in the agreements
relating to such Stock Option, and the restrictions on each Restricted Stock
Award shall lapse and such shares of Restricted Stock shall no longer be
subject to forfeiture.

 

ARTICLE XV

CANCELLATION
AND REGRANT OF OPTIONS

 

The
Committee shall have the authority, at any and from time to time, with the
consent of the affected Optionees, to effect the cancellation of any or all
outstanding Stock Options and/or any Restricted Stock Awards and grant in
substitution new Stock Options and/or Restricted Stock Awards covering the same
or different number of shares of Common Stock. In the case of such a regrant of
a Stock Option, the Option Price shall be set in accordance with Article VII
on the new Date of Grant.

 

12

 

ARTICLE XVI

FINANCING

 

The Committee may, in its sole discretion, authorize
the Company to make a loan to a Participant in connection with the exercise of
a Stock Option, and may authorize the Company to arrange or guaranty loans to a
Participant by a third party in connection with the exercise of a Stock Option.

 

ARTICLE XVII

TAX
WITHHOLDING

 

A.                                   Tax
Withholding.  The Company’s
obligation to deliver shares of Common Stock upon the exercise of Stock Options
under the Plan shall be subject to the satisfaction of all applicable federal,
state and local income and employment tax withholding requirements.

 

B.                                     Surrender
of Shares.  The Committee may, in its
discretion, provide any or all holders of Non-Statutory Options under the
Discretionary Stock Option Grant Program with the right to use shares of Common
Stock in satisfaction of all or part of the taxes incurred by such holders in
connection with the exercise of such Stock Options. Such right may be provided
to any such holder in either or both of the following formats:

 

1.                                       The
election to have the Company withhold, from the shares of Common Stock
otherwise issuable upon the exercise of such Non-Statutory Option, a portion of
those shares with an aggregate Fair Market Value less than or equal to the
amount of taxes due as designated by such holder; or

 

2.                                       The
election to deliver to the Company, at the time the Non-Statutory Option is
exercised, one or more shares of Common Stock previously acquired by such
holder with an aggregate Fair Market Value less than or equal to the amount of
taxes due as designated by such holder.

 

ARTICLE XVIII

EFFECTIVE
DATE AND TERM OF THE PLAN

 

This Plan shall become effective on the Plan Effective
Date. This Plan shall terminate upon the earliest of (i) ten (10) years
after the Plan Effective Date; or (ii) the termination of all outstanding
Awards in connection with a Change in Control. Upon such plan termination, all
outstanding Awards shall thereafter continue to have force and effect in
accordance with the provisions of the documents evidencing such Awards.

 

13

 

ARTICLE XIX

AMENDMENT
OF THE PLAN

 

A.                                   The
Incentive Plan Committee shall have complete and exclusive power and authority
to amend or modify the Plan in any or all respects, unless stockholder approval
of such amendments or modifications is required under applicable law. No such
amendment or modification shall adversely affect the rights and obligations
with respect to Awards outstanding under the Plan at the time of such amendment
or modification, unless the Participant consents to such amendment or
modification.

 

B.                                     Stock
Options in excess of the number of shares of Common Stock then available for
issuance may be granted under this Plan, provided any excess shares actually
issued under this Plan shall be held in escrow until such further action,
necessary to approve a sufficient increase in the number of shares available
for issuance under the Plan, is taken. If such further action is not obtained
within 12 months after the date the first such excess issuances are made, then (i) any
unexercised options granted on the basis of such excess shares shall terminate
and cease to be outstanding; and (ii) the Company shall promptly refund to
the Optionees the exercise price paid for any excess shares issued under the
Plan and held in escrow, together with interest for the period the shares were
held in escrow, and such shares shall thereupon be automatically cancelled and
cease to be outstanding. If stockholder approval of a sufficient increase in
the number of shares subject to the Plan does not occur within twelve (12)
months of the grant of any Stock Option intended to be an Incentive Stock
Option which is granted pursuant to this Article XIX.B, such Stock Option
shall be deemed to be a Non-Statutory Option.

 

ARTICLE XX

REGULATORY APPROVALS

 

The implementation of the Plan, the granting of any
Award under the Plan and the issuance of any shares of Common Stock under any
Award shall be subject to the Company’s procurement of all approvals and
permits required by regulatory authorities having jurisdiction over the Plan,
the Awards granted pursuant to the Plan and the shares of Common Stock issued
pursuant to any Award under the Plan. No Stock Option shall be exercisable, no
shares of Common Stock or other assets shall be issued or delivered under the
Plan, and no transfer of any Non-Statutory Option shall be approved by the
Committee, unless and until there shall have been compliance with (i) all
applicable requirements of Federal and state securities laws, if applicable,
including the filing and effectiveness of a registration statement on Form S-8
under the Securities Act of 1933, as amended, covering the shares of Common
Stock issuable under the Plan; and (ii) all applicable listing
requirements of any stock exchange or securities market on which the shares of
Common Stock are listed or traded.

 

ARTICLE XXI

NO
EMPLOYMENT/SERVICE RIGHTS

 

Nothing in this Plan shall confer upon any Participant
any right to continue in service for any period or specific duration or
interfere with or otherwise restrict in any way the rights of the

 

14

 

Company (or any Subsidiary employing or retaining such person) or of
the Participant, which rights are expressly reserved by each, to terminate such
person’s service at any time for any reason, with or without Cause.

 

 

	
   

  	
  ICOP DIGITAL, INC.

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/Ann Johnson

  
	
   

  	
   

  	
  Ann Johnson, Secretary

  
	
   

  	
   

  	
   

  
	
   

  	
  Date: June 19, 2002

  

 

15Exhibit 10.12

 

COMMON
STOCK PURCHASE AGREEMENT

 

THIS COMMON
STOCK PURCHASE AGREEMENT (the “Agreement”) is entered into this 22 day of
December, 2003 between Vista Exploration Corporation, a Colorado corporation (
the “Company”), and             
(the “Purchaser”).  The Exhibit attached
to, and referenced in, this Agreement shall be deemed incorporated herein.

 

THIS AGREEMENT
is being entered into in anticipation of and to assist Vista Exploration
Corporation, a Colorado corporation (the “Company”), to complete the
acquisition by merger of ICOP Digital, Inc. (the “Merger”).  The purchase price and the securities being
purchased are to be delivered into escrow and are subject to the terms of the
escrow agreement attached hereto as Exhibit ”A” (“Escrow Agreement”).

 

RECITALS

 

WHEREAS, the
Company has authorized the sale and issuance of an aggregate of 600,000 shares
of common stock (the “Common Stock”); and

 

WHEREAS, the
Purchaser desires to purchase shares of Common Stock, and the Company desires
to issue and sell shares of Common Stock to the Purchaser, on the terms and
conditions set forth herein.

 

NOW,
THEREFORE, in consideration of the foregoing recitals and the mutual promises
hereinafter set forth, the parties hereto agree as follows:

 

ARTICLE 1

 

AGREEMENT TO SELL AND PURCHASE

 

Section 1.1                                      Agreement to Sell and Purchase.  Subject to the terms and conditions hereof,
at the Closing (as defined in Section 2.1 below) the Company hereby agrees
to issue and sell to the Purchaser, and the Purchaser agrees to purchase from
the Company, 600,000 shares of Common Stock (the “Shares”) for the aggregate
price of $300,000.00.

 

Section 1.2                                      Payment and Delivery of Purchase
Price and Shares.  The purchase price shall be paid in full on
the Closing Date by Purchaser to Seller and delivered along with the Shares
into escrow, in accordance with the Escrow Agreement.

 

ARTICLE 2

 

CLOSING AND DELIVERY

 

Section 2.1                                      Closing. The closing of the purchase
and sale of the Shares under this Agreement (the “Closing”) shall take place on
the 30th day of December, 2003, at 7225

 

 

Renner Rd, Suite 200, Shawnee, Ks 66217 or at such other time or
place as the Company and the Purchaser may mutually agree (such date is
hereinafter referred to as the “Closing Date”).

 

Section 2.2                                      Delivery.  Subject to the terms and conditions hereof,
at the Closing the Company will deliver to the Purchaser one or more
certificates representing the Shares, against payment of the purchase price
therefor by check or wire transfer made payable to the order of the Company.  It is understood that the certificate(s)
evidencing the Shares may bear one or all of the following legends:

 

(1)                                  “THE
SECURITIES REPRESENTED BY THIS STOCK CERTIFICATE HAVE NOT BEEN REGISTERED UNDER
THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”) OR APPLICABLE
STATE SECURITIES LAWS (“STATE ACTS”) AND SHALL NOT BE SOLD, PLEDGED,
HYPOTHECATED, DONATED, OR OTHERWISE TRANSFERRED (WHETHER OR NOT FOR
CONSIDERATION) BY THE HOLDER, EXCEPT UPON THE ISSUANCE TO THE COMPANY OF A
FAVORABLE OPINION OF ITS COUNSEL OR THE SUBMISSION TO THE COMPANY OF SUCH OTHER
EVIDENCE AS MAY BE SATISFACTORY TO COUNSEL FOR THE COMPANY, TO THE EFFECT
THAT ANY SUCH TRANSFER SHALL NOT BE IN VIOLATION OF THE SECURITIES ACT AND THE
STATE ACTS.”

 

(2)                                  Any
legend imposed or required by applicable federal or state securities laws.

 

ARTICLE 3

 

REPRESENTATIONS AND WARRANTIES

 

Section 3.1                                      Representations and Warranties
of the Company.  The Company hereby represents and warrants to
the Purchaser, as of the Closing Date, as follows:

 

(1)                                  Organization and Standing of the
Company.  The Company is a corporation duly organized,
validly existing and in good standing under the laws of the State of
Colorado.  It has all requisite corporate
power and authority to carry on its business as now being conducted, to enter
into this Agreement and to carry out and perform the terms and provisions of
this Agreement.  The Company is duly
qualified to do business and is in good standing in each jurisdiction in which
the failure to be so qualified would have a material adverse effect on the
condition (financial or otherwise), business, net worth, assets (including
intangible assets), properties or operations of the Company.  The Company has no direct or indirect interest,
either by way of stock ownership or otherwise, in any other firm, corporation,
association, or business.

 

(2)                                  Capitalization and Indebtedness
for Borrowed Moneys.

 

(a)                                  The
Company is duly and lawfully authorized by its Articles to issue (i) 50,000,000
shares of no par value Common Stock, of which 1,690,000 shares are issued and
outstanding; and (ii) 10,000,000 shares of preferred stock, none of which
are issued and

 

2

 

outstanding.  The Company has no treasury stock and no
other authorized series or class of stock. 
All the outstanding shares of Common Stock have been duly authorized and
validly issued and are fully paid and nonassessable and free of preemptive
rights.  All Shares to be issued to the
Purchaser pursuant to this Agreement shall be duly authorized, validly issued,
fully paid, nonassessable, and issued in compliance with state and federal
securities laws.

 

(b)                                 There
are no outstanding subscriptions, options, warrants, calls, contracts, demands,
commitments, convertible securities, or other agreements or arrangements of any
character or nature whatever under which the Company is or may be obligated to
issue or purchase shares of its capital stock.

 

(c)                                  After
the closing the Company will not liable on account of any indebtedness for
borrowed moneys.

 

(3)                                  The Company’s Authority.  The execution, delivery, and performance of
this Agreement shall have been duly authorized by all requisite corporate
action.  This Agreement constitutes a
valid and binding obligation of the Company enforceable in accordance with its
terms (except as limited by bankruptcy, insolvency, or other laws affecting the
enforcement of creditors’ rights).  The
execution, delivery and performance of this Agreement will not conflict with
any provision of the Articles, Bylaws, minutes or share certificates of the
Company, or of any contract to which the Company is a party or otherwise bound.

 

(4)                                  Litigation.  There are no legal actions, suits,
arbitrations, or other legal or administrative proceedings pending or threatened
against the Company which would affect it, its properties, assets, or
business.  The Company is not aware of
any facts which, to its knowledge, might result in any action, suit,
arbitration, or other proceeding which, in turn, might result in a material
adverse change in the business or condition (financial or otherwise),
properties or assets of the Company.  The
Company is not in default with respect to any judgment, order, or decree of any
court, government agency or instrumentality.

 

(5)                                  Compliance With the Law and
Other Instruments.  To the best of the Company’s knowledge, the
business operations of the Company have been and are being conducted in
accordance with all applicable laws, rules, and regulations of all
authorities.  The Company is not in violation
of, or in default under, any term or provision of the Articles or Bylaws, or of
any lien, mortgage, lease, agreement, instrument, order, judgment, or decree,
or subject to any restriction, contained in any of the foregoing, of any kind
or character which materially adversely affects in any way the business,
properties, assets, or prospects of the Company, or which would prohibit the
Company from entering into this Agreement or prevent consummation of the
issuance of securities contemplated by this Agreement.

 

(6)                                  Title to Properties and Assets.  The Company has good and marketable title to
all its properties and assets, including without limitation those used or
located on property controlled by the Company in its business (except assets
sold in the ordinary course of business), subject to no mortgage, pledge, lien,
charge, security interest, encumbrance, or restriction except those which do
not materially adversely affect the use thereof.

 

3

 

(7)                                  Records.  The books of account, minute books, stock
certificate books, and stock transfer ledgers of the Company are complete and
correct, and there have been no transactions involving the business of the
Company which properly should have been set forth in said respective books,
other than those set forth therein.

 

(8)                                  Brokers or Finders.  All negotiations on the part of the Company
relative to this Agreement and the transactions contemplated hereby have been
carried on by the Company without the intervention of any person or as the
result of any act of the Company in such manner as to give rise to any valid
claim for a brokerage commission, finder’s fee, or other like payment.

 

(9)                                  Taxes. The Company has duly filed all
federal, state, county and local income, franchise, excise, real and personal
property and other tax returns and reports (including, but not limited to,
those relating to social security, withholding, unemployment insurance, and
occupation (sales) and use taxes) required to have been filed by the Company up
to the date hereof.  All of the foregoing
returns are true and correct in all material respects and the Company has paid
all taxes, interest and penalties shown on such returns or reports as being
due. The Company has no liability for any taxes, interest or penalties of any
nature whatsoever, except for those taxes which may have arisen up to the
Closing Date in the ordinary course of business and are properly accrued on the
books of the Company as of the Closing Date.

 

(10)                            Environmental and Safety Laws.  To its knowledge, the Company is not in
violation of any applicable statute, law or regulation relating to the
environment or occupational health and safety, and no material expenditures are
or will be required in order to comply with any such existing statute, law or
regulation.

 

Section 3.2                                      Representations and Warranties
of the Purchaser.  The Purchaser represents and warrants to the
Company, as of the Closing Date, as follows:

 

(1)                                  Accredited Investor Status. The Purchaser is an “accredited
investor” within the meaning of Securities and Exchange Commission Rule 501
of Regulation D, as presently in effect.

 

(2)                                  Purchase Entirely for Own
Account.  This Agreement is made with the Purchaser in
reliance upon the Purchaser’s representation to the Company, which by the
Purchaser’s execution of this Agreement he hereby confirms, that the Shares to
be received by the Purchaser will be acquired for investment for the Purchaser’s
own account, not as a nominee or agent, and not with a view to the resale or distribution
of any part thereof, and that the Purchaser has no present intention of
selling, granting any participation in, or otherwise distributing the
same.  By executing this Agreement, the
Purchaser further represents that he does not have any contract, undertaking,
agreement or arrangement with any person to sell, transfer or grant
participations to such person or to any third person, with respect to the
Shares.

 

(3)                                  Disclosure of Information.  The Purchaser believes he has received all
the information he considers necessary or appropriate for deciding whether to
purchase the Shares.  The Purchaser
further represents that he has had an opportunity to ask questions and receive
answers from the Company regarding the terms and conditions of the offering of
the Shares and

 

4

 

the business, properties, prospects and financial condition of the
Company and to obtain additional information (to the extent the Company
possessed such information or could acquire it without unreasonable effort or
expense) and/or conduct his own independent investigation necessary to verify
the accuracy of any information furnished to the Purchaser or to which the
Purchaser had access.  The foregoing, however, does not limit or modify the representations
and warranties of the Company in Section 3.1 of this Agreement or the
right of the Purchaser to rely thereon.

 

(4)                                  Investment Experience.  The Purchaser is experienced in evaluating
and investing in private placement transactions in securities of companies in
the development stage and acknowledges that he is able to fend for himself, can
bear the economic risk of his investment, and has such knowledge and experience
in financial or business matters that he is capable of evaluating the merits
and risks of the investment in the Shares.

 

(5)                                  Restricted Securities. The Purchaser understands that
the Shares are being sold pursuant to an exemption from registration under Section 4(2) of
the Securities Act of 1933, as amended (the “Securities Act”).  The Purchaser also understands that the
Shares may not be sold, transferred or otherwise disposed of by him without
registration under the Securities Act or an exemption therefrom, and that in
the absence of an effective registration statement covering the Shares or an
available exemption from registration under the Securities Act, the Shares must
be held indefinitely.  In particular, the
Purchaser is aware that the Shares may not be sold pursuant to Rule 144
promulgated under the Securities Act unless all of the conditions of that rule are
met.  Among the conditions for use of Rule 144
may be the availability of current information to the public about the
Company.  Such information is not now
available and the Company has no present plans to make such information
available.  In this connection, the
Purchaser represents that he is familiar with Rule 144, as presently in
effect, and understands the resale limitations imposed thereby and by the
Securities Act.

 

(6)                                  Transfer Restrictions.  Without in any way limiting the
representations set forth above, the Purchaser further agrees not to make any
disposition of all or any portion of the Shares unless and until the transferee
has agreed in writing for the benefit of the Company to be bound by this Section 3.2,
provided and to the extent this Section and such agreement are then
applicable.  

 

(7)                                  Illiquid Investment.  The Purchaser understands that the Company
has no present intention of registering the Shares.  The Purchaser further understands that no
market exists for the Shares, and there can be no assurance that a market will
develop for the Shares.  Accordingly, the
Shares represent a very illiquid investment with no assurance of an available
exit strategy for the Purchaser.

 

(8)                                  Residence.  The Purchaser resides at the address listed
below his signature to this Agreement.

 

(9)                                  Brokers or Finders.  All negotiations on the part of the Purchaser
relative to this Agreement and the transactions contemplated hereby have been
carried on by the Purchaser without the intervention of any person or as the
result of any act of the Purchaser in

 

5

 

such manner as to give rise to any valid claim for a brokerage
commission, finder’s fee, or other like payment.

 

ARTICLE 4

 

CONDITIONS TO CLOSING

 

Except as may
be waived in writing by the parties, all of the obligations of the parties
under this Agreement are subject to the fulfillment, prior to or at the Closing
on the Closing Date, of each of the following conditions:

 

(1)                                  Representations and Warranties
True.  The representations and warranties of the
Company and the Purchaser set forth in Sections 3.1 and 3.2, respectively,
shall be true and correct in all material respects as of the Closing Date,
subject to any changes contemplated by this Agreement.

 

(2)                                  Directors’ Approval.  Consummation of the transactions contemplated
herein shall have been approved by the Board of Directors of the Company at a
meeting of the Board of Directors to be held for the purpose of obtaining such
approval or by unanimous written consent.

 

(3)                                  Third-Party Consents.  On or before the Closing Date, all material
consents or approvals by any third party, if any, which are required to be
obtained by the Company in connection with the execution, delivery or
performance of this Agreement or the consummation of the transactions
contemplated herein shall have been obtained.

 

(4)                                  Compliance with Agreements. The Company shall have
performed and complied with all agreements or conditions required by this Agreement
to be performed and complied with by it prior to or on the Closing Date.

 

(5)                                  Certificate of Officer.  The Company shall have delivered to the
Purchaser a certificate dated the Closing Date, executed in its corporate name
by, and verified by, the oath of its President certifying to the fulfillment of
the conditions specified in this Article 4.

 

ARTICLE 5

 

NATURE AND SURVIVAL OF REPRESENTATIONS AND
WARRANTIES:

 

All statements
of fact contained herein, or in any certificate or schedule delivered by
or on behalf of the Company or the Purchaser pursuant to the terms hereof,
shall be deemed representations and warranties made by the Company and the
Purchaser, respectively, to each other under this Agreement.  The representations and warranties of the
Company and the Purchaser shall survive the Closing for a period of one year.

 

6

 

ARTICLE 6

 

MISCELLANEOUS

 

Section 6.1                                      Amendment. This Agreement may be amended
in any manner as may be determined in the judgment of the Board of Directors of
the Company and the Purchaser to be necessary, desirable, or expedient in order
to clarify the intention of the parties hereto or to effect or facilitate the
purpose and intent of this Agreement, subject to the provision herein that any
amendment shall be ineffective unless in writing and executed by the parties
hereto.

 

Section 6.2                                      Counterparts and Facsimile
Signatures.  In order to facilitate the execution of this
Agreement, it may be executed in any number of counterparts and signature pages may
be delivered by facsimile.

 

Section 6.3                                      Waiver of Conditions.  Either party may waive any condition
precedent, term or condition of this Agreement but such a waiver shall be
ineffective unless in writing and executed by an authorized representative of
both parties hereto.

 

Section 6.4                                      Registration Rights: 
The Company agrees to register the Shares being sold pursuant to this
agreement in a registration statement to be filed with the Securities and
Exchange Commission within sixty (60) days after the closing of the merger of
ICOP with and into the Company and the delivery of all of the securities and
the purchase price from escrow to the appropriate parties.  The Company agrees to pay all expenses of registration
and the Purchaser agrees to cooperate in all reasonable respects with the
Company and its counsel as required to file the Registration Statement
registering the resale of the Shares. 
The Company agrees to use its reasonable best efforts to have said
Registration Statement declared effective at the earliest practicable date
after filing.  The Company represents
that the securities being registered for the Purchaser will be included in the
first Registration Statement filed subsequent to the closing of the ICOP merger
which will be the filing of the post-effective amendment of the Company’s prior
Registration Statement registering the resale of the existing the Company
shareholders’ shares.

 

Section 6.5                                      Assignment.  Neither this Agreement nor any right created
hereby shall be assignable by the Company or the Purchaser without the prior
written consent of the other party. 
Nothing in this Agreement, express or implied, is intended to confer
upon any person, other than the parties hereby and their respective successors,
assigns, heirs, executors, administrators, or personal representatives, any
rights or remedies under or by reason of this Agreement.

 

Section 6.6                                      Entire Agreement.  This Agreement, the Exhibit hereto, and
the certificates delivered pursuant hereby constitute the full and entire
understanding and agreement between the parties with regard to the subject
hereof and no party shall be liable or bound to any other in any manner by any
representations, warranties, covenants or agreements except as specifically set
forth herein.  All prior agreements and
understandings are superseded by this Agreement and the Exhibit thereto.

 

7

 

Section 6.7                                      Governing Law.  This Agreement shall be governed by the laws
of the State of Colorado, except that the General Corporation Law of Colorado
shall govern as to matters of corporate law pertaining to the Company.

 

Section 6.8                                      Severability.  In case any provision of this Agreement shall
be invalid, illegal or unenforceable, the validity, legality and enforceability
of the remaining provisions shall not in any way be affected or impaired
thereby.

 

Section 6.9                                      Notices.  All notices and other communications required
or permitted under this Agreement must be in writing and may be given by
personal delivery or U.S. mail, or confirmed facsimile.  If given by mail, such notice must be sent by
registered or certified mail, postage prepaid, mailed to the party at the
respective address set forth below, and shall be effective only if and when
received by the party to be notified. 
For purposes of notice, the addresses of the parties shall, until
changed as hereinafter provided, be as follows:

 

(1)          If to the Company:

 

Vista Exploration Corporation

11011 King Street, Suite 260

Overland Park, KS  66210

Facsimile No.: 913.469.5614

Phone No. to Confirm Fax: (913) 469.1662

 

With a copy to:

 

Ballard Spahr Andrews & Ingersoll,
LLP

1225 17th Street, Suite 2300

Denver, CO 80202

Attn: Roger V. Davidson, Esq.

Facsimile No.: (303) 382-4607

Phone No. to Confirm Fax: (303) 299-7307

 

(2)          If to the Purchaser:

 

 

 

or at such
other address or facsimile number as any party may have advised the other in
writing.

 

Section 6.10                                Attorney Fees.  If any action at law or in equity, including
an action for declaratory relief, is brought to enforce or interpret the
provisions of this Agreement, the prevailing party shall be entitled to recover
reasonable attorney fees from the other party or parties, which fees shall be
in addition to any other relief which may be awarded.

 

8

 

Section 6.11                                Indemnification by the Company.  The Company agrees to indemnify and hold the
Purchaser harmless against any loss, liability, damage or expense (including
reasonable attorney fees and costs) which the Purchaser may suffer, sustain or
become subject to as a result of or in connection with the breach by the
Company of any representation, warranty, covenant or agreements of the Company
contained in this Agreement

 

Section 6.12                                Indemnification by the Purchaser.  The Purchaser agrees to indemnify and hold
the Company harmless against any loss, liability, damage or expense (including
reasonable attorney fees and costs) which the Company may suffer, sustain or
become subject to as a result of or in connection with the breach by the
Purchaser of any representation, warranty, covenant or agreements of the
Purchaser contained in this Agreement.

 

IN WITNESS WHEREOF, this Common Stock
Purchase Agreement is hereby duly executed by each party hereto as of the date
first written above.

 

COMPANY:

 

VISTA EXPLORATION CORPORATION, a Colorado corporation

 

 

	
  By

  	
   

  	
   

  
	
   

  	
  Charles A. Ross, Sr., Director and
  President

  	
   

  
	
   

  
	
   

  
	
  PURCHASER:

  
	
   

  
	
   

  
	
   

  	
   

  
	
  [

  	
   

  	
  ]

  	
   

  
					

 

9

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