Document:

Exhibit 4.2

 

GENTOR RESOURCES INC.

 

Stock Option Plan

 

The board of directors
of Gentor Resources Inc. (the "Corporation") wishes to establish a stock option plan (the "Plan") governing
the issuance of stock options (the "Stock Options") to directors, officers and employees of the Corporation or subsidiaries
of the Corporation and persons or corporations who provide services to the Corporation or its subsidiaries on an on-going basis,
or have provided or are expected to provide a service or services of considerable value to the Corporation or its subsidiaries.
Capitalized terms, not otherwise defined herein, have the meanings ascribed thereto in the TSX Venture Exchange Corporate Finance
Manual.

 

The terms and conditions
of the Plan for issuance of Stock Options are as follows:

 

		1.	Purposes

 

The principal purposes
of the Plan are:

 

		(a)	to retain and attract qualified directors, officers, employees and service providers which the
Corporation and its subsidiaries require;

 

		(b)	to promote a proprietary interest in the Corporation and its subsidiaries;

 

		(c)	to provide an incentive element in compensation; and

 

		(d)	to promote the profitability of the Corporation and its subsidiaries.

 

		2.	Reservation of Shares

 

Subject to Section
10 of the Plan, the number of common shares in the capital of the Corporation (the "Common Shares") reserved from time
to time for issuance to Eligible Optionees (as hereinafter defined) pursuant to Stock Options under the Plan shall not exceed 11,000,000
Common Shares.

 

		3.	Eligibility

 

Stock Options shall
be granted only to persons, firms or corporations ("Eligible Optionees") who are Directors, Employees, Consultants or
Management Company Employees of the Corporation or a subsidiary of the Corporation. Where the Eligible Optionee is an Employee,
Consultant or Management Company Employee, the board of directors of the Corporation (the "Board") shall confirm that
the Eligible Optionee is a bona fide Employee, Consultant or Management Company Employee, as the case may be, of the Corporation
or a subsidiary of the Corporation prior to any grant of Stock Options.

 

Stock Options may also
be granted to a corporation which is wholly-owned by an Eligible Optionee if the corporation agrees not to effect or permit any
transfer of ownership or option of shares of the corporation, nor to issue further shares of any class in the corporation to any
other individual or entity as long as any Stock Options granted to the corporation remain outstanding, without the prior written
consent of the TSX Venture Exchange. Unless the context otherwise requires, the term Eligible Optionee as used herein, shall include
any such corporation.

 

    	 

    	 

    

 

		4.	Granting of Stock Options

 

The Board may from
time to time grant Stock Options to Eligible Optionees. At the time a Stock Option is granted, the Board shall determine the number
of Common Shares of the Corporation available for purchase under the Stock Option, the date when the Stock Option is to become
effective and, subject to the other provisions of this Plan, all other terms and conditions of the Stock Option. An Eligible Optionee
may hold more than one Stock Option at any time, however, at no time shall:

 

		(a)	the number of Common Shares reserved for issuance pursuant to Stock Options granted to Insiders
exceed 10% of the outstanding Common Shares;

 

		(b)	the number of Stock Options granted to Insiders, within a 12 month period, exceed 10% of the outstanding
Common Shares;

 

		(c)	the number of Common Shares reserved for issuance pursuant to Stock Options or pursuant to any
other stock purchase or option plans of the Corporation granted to any one Eligible Optionee exceed 5% of the outstanding Common
Shares;

 

		(d)	the number of Common Shares issued pursuant to Stock Options to any one Eligible Optionee, within
a one-year period, exceed 5% of the outstanding Common Shares;

 

		(e)	the number of Stock Options granted to any one Consultant in a 12 month period exceed 2% of the
outstanding Common Shares; or

 

		(f)	the aggregate number of Stock Options granted to persons employed in Investor Relations Activities
exceed 2% of the outstanding Common Shares in any 12 month period without the express consent of the TSX Venture Exchange.

 

Any Stock Options granted
to a corporation referred to in Section 3 hereof shall be included in the calculation of the Stock Options held by an Eligible
Optionee.

 

		5.	Exercise Price

 

The exercise price
(the "Exercise Price") of each Stock Option shall be determined in the discretion of the Board at the time of the granting
of the Stock Option, provided that the exercise price shall not be lower than the "Market Price". "Market Price"
shall mean the last closing price of the Common Shares on the TSX Venture Exchange prior to the date the Stock Option is granted;
provided that in the event the Common Shares are not listed on the TSX Venture Exchange but are listed on another stock exchange
or stock exchanges, the foregoing reference to the TSX Venture Exchange shall be deemed to be a reference to such other stock exchange,
or if more than one, to such one as shall be designated by the Board, and to the extent that the Common Shares are not listed on
any exchange, the Market Price shall be such price as is determined by the Board in good faith.

 

		6.	Term and Exercise Periods

 

		(a)	All Stock Options shall be for a term determined in the discretion of the Board at the time of
the granting of the Stock Options, provided that no Stock Option shall have a term exceeding five years and, unless the Board at
any time makes a specific determination otherwise, a Stock Option and all rights to purchase Common Shares pursuant thereto shall
expire and terminate immediately upon the Eligible Optionee who holds such Stock Option ceasing to be at least one of a Director,
Employee, Management Company Employee or Consultant of the Corporation or a subsidiary of the Corporation.

 

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		(b)	Unless otherwise determined by the Board at the time of the granting of the Stock Options pursuant
to clause 6(c)(iii) below, 1/4 of the Stock Options granted pursuant hereto will vest on each of the 6 month, 12 month, 18 month
and 24 month anniversaries of the date of the grant of the Stock Options (the "Grant Date"). For greater clarity, unless
otherwise determined pursuant to the terms hereof, all Stock Options granted to an Eligible Optionee will be available to exercise
and purchase Common Shares on the 24 month anniversary of the Grant Date.

 

		(c)	By way of example, without limiting the generality of the foregoing or the discretion of the Board,
the Board may, at the time of the granting of the Stock Option, determine:

 

		(i)	that a Stock Option is exercisable only while the Eligible Optionee remains at least one of a Director,
Employee, Management Company Employee or Consultant and for a limited period of time ("Additional Period") after the
Eligible Optionee ceases to be at least one of a Director, Employee, Management Company Employee or Consultant (which Additional
Period may not exceed 90 days or, in the case of an Eligible Optionee engaged in Investor Relations Activities, 30 days);

 

		(ii)	that a Stock Option can be exercisable for an Additional Period or for its remaining term (which
Additional Period or remaining term may not exceed one year) after the death, disability or incapacity of an Eligible Optionee;

 

		(iii)	that a Stock Option has a different vesting schedule than that specified in subsection 6(b) above;
or

 

		(iv)	that a Stock Option may provide for early exercise and/or termination or other adjustment in the
event of a death of a person and in other circumstances, such as if the Corporation shall resolve to sell all or substantially
all of its assets, to liquidate or dissolve, or to merge, amalgamate, consolidate or be absorbed with or into any other corporation.

 

		7.	Non-Assignability

 

Other than a limited
right of assignment, subject to the terms upon which the Stock Option is granted, in the event of the death of an Eligible Optionee
to allow the exercise of Stock Options by the Eligible Optionee's legal representative, Stock Options shall not be assignable or
transferable by the Eligible Optionees.

 

		8.	Payment of Exercise Price

 

All shares issued pursuant
to the exercise of a Stock Option shall be paid for in full at the time of exercise of the Stock Option and prior to the issue
of the shares. All Common Shares issued in accordance with the foregoing shall be issued as fully paid and non-assessable Common
Shares.

 

		9.	Non-Exercise

 

If any Stock Option
granted pursuant to the Plan is not exercised for any reason whatsoever, upon the expiry of the Stock Options pursuant to the terms
of its grant or the terms hereof, the shares reserved and authorized for issuance pursuant to such Stock Option shall revert to
the Plan and shall be available for other Stock Options. Notwithstanding the foregoing, at no time shall there be outstanding Stock
Options exceeding, in the aggregate, the number of Common Shares reserved for issuance pursuant to Stock Options under this Plan.

 

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		10.	Adjustment in Certain Circumstances

 

In the event:

 

		(a)	of any change in the Common Shares through subdivision, consolidation, reclassification, amalgamation,
merger or otherwise; or

 

		(b)	of any stock dividend to holders of Common Shares (other than such stock dividends issued at the
option of shareholders of the Corporation in lieu of substantially equivalent cash dividends); or

 

		(c)	that any rights are granted to holders of Common Shares to purchase Common Shares at prices substantially
below fair market value; or

 

		(d)	that as a result of any recapitalization, merger, consolidation or otherwise the Common Shares
are converted into or exchangeable for any other shares;

 

then in any such case the Board may make
such adjustment in the Plan and in the Stock Options granted under the Plan as the Board may in its sole discretion deem appropriate
to prevent substantial dilution or enlargement of the rights granted to, or available for, holders of Stock Options, and such adjustments
may be included in the Stock Options.

 

		11.	Expenses

 

All expenses in connection
with the Plan shall be borne by the Corporation.

 

		12.	Compliance with Laws

 

The Corporation shall
not be obliged to issue any shares upon exercise of Stock Options if the issue would violate any law or regulation or any rule
of any governmental authority or stock exchange. The Corporation shall not be required to issue, register or qualify for resale
any shares issuable upon exercise of Stock Options pursuant to the provisions of a prospectus or similar document, provided that
the Corporation shall notify the TSX Venture Exchange or any other stock exchange on which the shares of the Corporation are listed
and any other appropriate regulatory bodies of the existence of the Plan and the issuance and exercise of Stock Options.

 

In addition to any
resale restrictions that may be applicable under applicable securities laws, all Stock Options and any shares issued on the exercise
of Stock Options shall be legended with a four month hold period from the date the Stock Options are granted.

 

		13.	Disinterested Shareholder Approval

 

Disinterested shareholder
approval shall be obtained by the Corporation prior to any reduction in the Exercise Price if the Optionee is an Insider of the
Corporation at the time of a proposed reduction of the Exercise Price.

 

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		14.	Form of Stock Option Agreement

 

All Stock Options shall
be issued by the Corporation in a form which meets the general requirements and conditions set forth in this Plan and the requirements
of the TSX Venture Exchange or such other exchange on which the shares of the Corporation are listed from time to time.

 

		15.	General Offer for Common Shares

 

If a bona fide offer
(the "Offer") for the Common Shares is made to shareholders
generally, which Offer, if accepted in whole or in part, would result in the offeror exercising control over the Corporation within
the meaning of subsection 1(3) of the Securities Act (Ontario), then the Corporation shall, immediately upon receipt of
notice of the Offer, notify each Eligible Optionee then holding Stock Options of the Offer, with full particulars thereof, whereupon,
notwithstanding clause 6(b) hereof but subject to any necessary regulatory approval, such Stock Options may be exercised in whole
or in part by the Eligible Optionee so as to permit the Eligible Optionee to tender the Common Shares received upon such exercise
(the "Optioned Shares") pursuant to the Offer. If:

 

		(a)	the Offer is not completed within the time specified therein; or

 

		(b)	the Eligible Optionee does not tender the Optioned Shares pursuant to the Offer; or

 

		(c)	all of the Optioned Shares tendered by the Eligible Optionee pursuant to the Offer are not taken
up and paid for by the offeror in respect thereof,

 

then the Optioned Shares or, in the case
of clause (c) above, the Optioned Shares that are not taken up and paid for, shall be returned by the Eligible Optionee to the
Corporation and reinstated as authorized but unissued Common Shares and the terms of the Stock Options as set forth in clause 6(b)
hereof shall again apply to the Stock Options. If any Optioned Shares are returned to the Corporation under this Section 15, the
Corporation shall refund the Exercise Price to the Eligible Optionee for such Optioned Shares. In no event shall the Eligible Optionee
be entitled to sell the Optioned Shares otherwise than pursuant to the Offer.

 

		16.	Amendments and Termination 

 

The Corporation shall
retain the right to (a) amend from time to time the terms of the Plan or to terminate the Plan by resolution of the Board, and
(b) amend from time to time the terms of outstanding Stock Options by resolution of the Board. Any such amendments or termination
shall be subject to the consent of any applicable regulatory body, including any stock exchange on which the Corporation's shares
are listed (to the extent such consent is required). Any amendment to the terms of outstanding Stock Options shall be subject to
the consent of the Eligible Optionee holding such Stock Options. Any amendment to the terms of the Plan shall take effect only
with respect to Stock Options granted thereafter, provided that such amendment may apply to any Stock Options previously granted
with the consent of the Eligible Optionees holding such Stock Options.

 

		17.	Delegation of Administration of the Plan

 

Subject to the legislation
governing the Corporation, the Board may delegate to one or more directors of the Corporation, on such terms as it considers appropriate,
all or any part of the powers, duties and functions relating to the granting of Stock Options and the administration of the Plan.

 

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		18.	Applicable Law

 

This Plan shall be
governed by and construed in accordance with the laws in force in the Province of Ontario, Canada.

 

		19.	Stock Exchange

 

To the extent applicable,
the issuance of any shares of the Corporation pursuant to Stock Options issued pursuant to this Plan is subject to approval of
the Plan by the TSX Venture Exchange or other stock exchange upon which the Common Shares are listed, and the Plan shall be subject
to the ongoing requirements of such exchange.

 

		20.	Administration

 

This Plan shall be
administered by the Board. The Board shall have full and final discretion to interpret the provisions of this Plan and to prescribe,
amend, rescind and waive rules and regulations to govern the administration and operation of this Plan. All decisions and interpretations
made by the Board shall be binding and conclusive upon the Corporation and on all persons eligible to participate in this Plan,
subject to shareholder approval if required by any stock exchange on which the Corporation's shares are listed.

 

    	6AMENDED AND RESTATED

 GURU JOINT VENTURE AGREEMENT

 

THIS AMENDED AND
RESTATED GURU JOINT VENTURE AGREEMENT (this “Agreement”) dated as of December 31, 2011 by and between NET ELEMENT,
INC., a Delaware corporation, with a principal office at 1450 South Miami Avenue, Miami, Florida 33130 (“Net Element”)
and CURTIS WOLFE, a licensed attorney and resident of the State of Florida or his assignee, Lobos Advisors, LLC (the “Guru”),
amended and restates that certain Guru Joint Venture Agreement dated as of March 29, 2011 (the “Effective Date”). Net
Element and the Guru are referred to collectively as the Parties and individually as a Party.

 

WHEREAS, the
Guru has developed a business plan around Internet websites and web services that brand professionals as “gurus” in
their field (“Legal Gurus”) and helps them promote their individual practices and intends to launch a site and set
of web based services related to the legal profession (“Legal Guru Site”); and

 

WHEREAS, the
Guru is a well respected professional in the legal field and is knowledgeable about Internet commerce and other business to consumer
(B2C) and business to business (B2B) solutions that other legal professionals need; and

 

WHEREAS, Net
Element and the Guru desire to jointly launch the Legal Guru Site and related web services pursuant to the terms and conditions
contained herein, including without limitation, the formation and joint ownership of a joint venture entity operating the Joint
Venture Entity (as defined below).

 

NOW THEREFORE,
as consideration for the mutual premises and covenants contained herein and other valuable consideration, the receipt and sufficiency
of which is hereby acknowledged, the Parties hereby agree as follows:

 

1.   Joint Venture
Entity. The Parties will cause to be formed a limited liability company in the state of Florida under a trade name agreeable
to each Party (the “Joint Venture Entity”). The membership interests of the Joint Venture Entity shall be owned initially
70% by Net Element and 30% by the Guru. The Joint Venture Entity will be operated pursuant to an operating agreement that will
be agreed to and executed by both Parties. The Joint Venture Entity shall be managed by the Guru as its managing member or Chairman
of the Board of Directors. In addition, the Guru shall be the Chief Executive Officer of the Joint Venture Entity.

 

2.   Investment.
The Parties shall invest $900,000 in the Joint Venture Entity. The investment shall be made as the Joint Venture Entity needs cash,
with the Guru’s portion equaling $100,000 in cash as needed and an foregoing a more robust salary until the Joint Venture
Entity generates at least $500,000 in revenue. Net Element shall account for its investment at the Net Element level as expenses
properly allocated to the Joint Venture Entity. The Guru shall receive other benefits and perks commensurate with other senior
executives at Net Element or its affiliates.

 

    	 

    	 

    

 

3.   Conversion
Rights. The Guru shall have the right, but not the obligation, for thirty-six (36) months from the Effective Date, to convert
his interest in the Joint Venture Entity into three million (3,000,000) shares of Net Element’s common stock (the “Conversion
Shares”). The Conversion Shares shall be adjusted, as appropriate, for any stock splits after the Effective Date but before
the date of the Guru’s conversion pursuant to this paragraph.

 

4.   Founder/Board
Chairman. The Guru shall have the titles of Founder of the Joint Venture Entity and Chairman of Joint Venture Entity’s
governing board. As such, the Guru shall recommend additional Board members and shall liaison with the Legal Guru Board and the
Website’s Legal Gurus to promote the business of the Joint Venture Entity. So long as Net Element holds a majority interest
in the Joint Venture Entity, the Guru shall be entitled to serve on the Board of Directors of Net Element.

 

5.   Use of Likeness.
The Guru grants to the Joint Venture Entity the right to use his name, nickname, initials, autograph, facsimile signature, photograph,
likeness, and/or endorsement (each a “Likeness”) in promotion of the Joint Venture Entity and the Website (the “License”)
specifically as the Guru approves, which approval shall not be unreasonably withheld. The Guru shall approve all images of the
Guru for Joint Venture Entity’s use and shall have the right to approve all press releases, biographies or other personal
information used by Joint Venture Entity which approval shall not be unreasonably withheld; provided, further, that the Joint Venture
Entity may submit a request for approval and if the Guru does not deny such request, such request shall become operative after
five (5) business days from the date of such request.

 

6.   Other Guru
Sites. The Guru is developing the Legal Guru Site and related web services to be replicable to other guru brands such as Medical
Guru and Dental Guru, et al (“Other Guru Brands”). Legal Guru shall own and control all Other Guru Brands, unless and
until a Supermajority of the Membership Interest (as defined in the LegalGuru Operating Agreement) of the Joint Venture Entity
approve a disposition of any of the Other Guru Brands.

 

7.   Confidentiality.

 

a.   Definition.
As used in this Agreement, “Confidential Information” means all nonpublic information disclosed by or relating
to Net Element or the Joint Venture Entity that is designated as confidential or that, given the nature of the information or the
circumstances surrounding its disclosure, reasonably should be considered as confidential. Confidential Information includes, without
limitation, (i) all nonpublic information relating to Net Element’s or Joint Venture Entity’s technology, customers,
business plans, promotional and marketing activities, finances and other business affairs, and (ii) all third-party information
that Net Element or Joint Venture Entity is obligated to keep confidential. Confidential Information may be contained in tangible
materials, such as drawings, data, specifications, reports and computer programs, or may be in the nature of unwritten knowledge.

 

    	 

    	 

    

 

b.   Exclusions.  “Confidential
Information” does not include any information that (i) is or becomes publicly available without breach of this Agreement,
(ii) can be shown by documentation to have been known to The Guru at the time of its receipt from Net Element or Joint Venture
Entity, (iii) is received from a third party who did not acquire or disclose such information by a wrongful or tortious act, or
(iv) can be shown by documentation to have been independently developed by The Guru without reference to any Confidential Information.

 

c.   Use
of Confidential Information.  The Guru may use Confidential Information only in pursuance of his relationship with the
Joint Venture Entity. Except as expressly provided in this Agreement, the Guru will not disclose Confidential Information to anyone
without the Joint Venture Entity’s prior written consent. The Guru will take all reasonable measures to avoid disclosure,
dissemination or unauthorized use of Confidential Information, including, at a minimum, those measures it takes to protect his
own confidential information of a similar nature. The Guru will segregate Confidential Information from the confidential materials
of third parties to prevent commingling.

 

8.   Non-Competition.
During the term of this Agreement and so long as the Guru receives a salary not less than the Post Launch Salary from the Joint
Venture Entity, the Guru shall not compete with the Joint Venture Entity. Nothing contained herein shall be construed to limit
the Guru’s ability to practice law or give legal advice, but shall prohibit the Guru’s ability to operate any business
that promotes legal marketing online (other than for his own legal practice).

 

9.   Intellectual
Property. During the Term of this Agreement, all discoveries and works, including without limitation, ideas, recommendations,
additions, suggestions, rewrites, or other contributions, made or conceived for Legal Guru by the Guru as part of his services
as a Guru (collectively, “Works”) shall be the sole and exclusive property of Legal Guru or shall be deemed “work
made for hire” and all right, title and interest in such Works shall inure to the benefit of Legal Guru. The Guru shall assist
Legal Guru in obtaining or maintaining for itself, at Legal Guru’s expense, United States and foreign copyrights protection
or other protection of any and all such Works, and promptly execute, whether during the term of this Agreement or thereafter, all
applications or other endorsements necessary or appropriate to maintain patents and other rights for Legal Guru and to protect
its title thereto.

 

    	 

    	 

    

 

10.   Indemnification.
If the Guru is made a party or threatened to be made a party to any action, suit or proceeding (an “Action”), by reason
of the fact that the Guru is involved with Net Element or the Joint Venture Entity, the Guru shall be defended, indemnified and
held harmless by Net Element to the fullest extent permitted by law, as the same exists or may hereafter be amended, against all
liability, damages, losses, judgments, liabilities, fines, settlements, and costs, attorneys’ fees and any expenses of defending
himself with counsel of his choice or establishing a right to indemnification under this Agreement (“Expenses”) incurred
by the Guru in connection therewith, and such indemnification shall continue after the Guru has ceased its activities and relationships
with Net Element pursuant to this Agreement, and shall inure to the benefit of his heirs, executors and administrators; provided,
however, that the Guru shall not be so indemnified for any Action which is finally adjudicated to have arisen out of his willful
misconduct, bad faith, gross negligence or reckless disregard of duty.

 

11.   General Provisions.

 

a.   Governing
Law. The laws of the State of Florida, without regards to choice of law provisions, shall govern this Agreement.

 

b.   Entire
Agreement. This Agreement sets forth the entire understanding and agreement of the parties as to the subject matter of
this Agreement. It may be changed only by written amendment signed by the parties.

 

c.   Prevailing
Party. In the event either of the parties to this Agreement commences any action or proceeding arising out of, or relating
in any way to, this Agreement, the prevailing party shall be entitled to recover, in addition to any other relief awarded to such
party, his, her or its costs, expenses and reasonable attorneys’ fees.

 

d.   Assignability.
Neither party may assign this Agreement or the rights and obligations thereunder to any third party without the prior express written
approval of the other party which shall not be unreasonably withheld.

 

e.   Agreement
Binding On Successors. The provisions of the Agreement shall be binding upon and shall inure to the benefit of the Parties
hereto, their heirs, administrators, successors and assigns.

 

IN WITNESS WHEREOF,
the parties hereto have executed this Guru Joint Venture Agreement effective as of the day and year first above written.

 

	NET ELEMENT, INC.	 	THE GURU
	 	 	 
	By:	/s/ Dmitry Kozko	 	/s/ Curtis Wolfe
	Name: Dmitry Kozko	 	Curtis Wolfe
	Title:   Director and EVP

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