Document:

f8k051211ex10i_europa4.htm

Exhibit 10.1

 

Stock Purchase Agreement

Dated as of May 12, 2011

By and Among

Siwei Wang

And

Peter Reichard

and

Peter Coker

and

Europa Acquisition IV, Inc.

 

  

1

  

 

Table of Contents

 

	  	  
	
Section 1. Construction and Interpretation

	
3

	
1.1. Principles of Construction.

	
3

	
Section 2.  The Transaction

	
4

	
2.1. Purchase Price:

	
4

	
2.2. Transfer of Shares and Terms of Payment:

	
4

	
2.3. Closing.

	
4

	
Section 3.  Representations and Warranties

	
4

	
3.1. Representations and Warranties of the Sellers:

	
4

	
3.2. Covenants of the Sellers and the Company.

	
7

	
Section 4.  Miscellaneous

	
9

	
4.1. Expenses.

	
9

	
4.2. Governing Law.

	
9

	
4.3. Resignation of Old and Appointment of New Board of Directors and Officers.

	
9

	
4.4. Disclosure.

	
9

	
4.5. Notices.

	
10

	
4.6. Parties in Interest.

	
10

	
4.7. Entire Agreement.

	
10

	
4.8. Amendments.

	
11

	
4.9. Severability.

	
11

	
4.10. Counterparts.

	
11

 

  

2

  

 

Stock Purchase Agreement

This stock purchase agreement (“Agreement”), dated as of May _, 2011, is entered into by and among Europa Acquisition IV, Inc. (“Europa Acquisition” or the “Company”) and Peter Reichard and Peter Coker, (each a “Seller” and collectively, the “Sellers”), and Siwei Wang (“Purchaser” and together with the Company and the Sellers, the “Parties”).

W i t n e s s e t h:

 

Whereas, the Sellers, are shareholders of Europa Acquisition, a corporation organized and existing under the laws of the State of Nevada, who own and/or control in the aggregate 100,000 shares of the Company, which represents 100% of the issued and outstanding common shares of the Company; and

Whereas, the Purchaser desires to acquire all of such shares of the Company for $27,500.

 

Now, Therefore, in consideration of the premises and of the covenants, representations, warranties and agreements herein contained, the Parties have reached the following agreement with respect to the sale by the Sellers of such common stock of the Company to the Purchaser:

Section 1. Construction and Interpretation

1.1. Principles of Construction.

 

(a) All references to Articles, Sections, subsections and Appendixes are to Articles, Sections, subsections and Appendixes in or to this Agreement unless otherwise specified.  The words “hereof,” “herein” and “hereunder” and words of similar import when used in this Agreement shall refer to this Agreement as a whole and not to any particular provision of this Agreement.  The term “including” is not limiting and means “including without limitations.”

(b) In the computation of periods of time from a specified date to a later specified date, the word “from” means “from and including;” the words “to” and “until” each mean “to but excluding;” and the word “through” means “to and including.”

 

(c) The Table of Contents hereto and the Section headings herein are for convenience only and shall not affect the construction hereof.

 

(d) This Agreement is the result of negotiations among and has been reviewed by each Party’s counsel.  Accordingly, this Agreement shall not be construed against any Party merely because of such Party’s involvement in its preparation.

 

(e) Wherever in this Agreement the intent so requires, reference to the neuter, masculine or feminine shall be deemed to include each of the other, and reference to either the singular or the plural shall be deemed to include the other.

  

3

  

 

Section 2.  The Transaction

2.1. Purchase Price.

 

The Sellers hereby agree to sell to the Purchaser, and the Purchaser, in reliance on the representations and warranties contained herein, and subject to the terms and conditions of this Agreement, agrees to purchase from the Sellers 100,000 common shares of the capital stock of Europa Acquisition (the “Acquired Shares”) for a total  purchase price of $27,500 (the “Purchase Price”), payable in full to the Sellers according to the terms of this Agreement, in United States currency as directed by the Sellers at Closing.

2.2. Transfer of Shares and Terms of Payment.

 

In consideration for the transfer of the Acquired Shares by the Sellers to the Purchaser, the Purchaser shall pay the Purchase Price in accordance with the terms of this Agreement.  Transfer of the shares and payment thereof shall be in the following manner:

i) Upon execution of this Agreement, the Purchaser shall transfer $27,500 (“Payment”) to Anslow & Jaclin, LLP (the “Escrow Agent”).

	
  

	
ii) Simultaneously with the transfer of the Payment, the Sellers shall deliver to the Escrow Agent, the certificates for the Acquired Shares duly endorsed for transfer to be released and delivered to the Purchaser upon receipt of the Payment by the Escrow Agent.

 

2.3. Closing.

Subject to the terms and conditions of this Agreement, the Closing shall take place by wire transfer and overnight mail on or before 5:00 P.M. EST on May 10, 2011 (the “Closing Date”).

 

Section 3.  Representations and Warranties

3.1. Representations and Warranties of the Sellers and the Company. The Sellers and the Company hereby make the following representations and warranties to the Purchaser:

3.1.1           The Company is a corporation duly organized and validly existing under the laws of the State of Nevada and has all corporate power necessary to engage in all transactions in which it has been involved, as well as any general business transactions in the future that may be desired by its directors.

3.1.2           The Company is in good standing with the Secretary of State of Nevada.

3.1.3           Prior to or at Closing, all of the Company’s outstanding debts and obligations shall be paid off (at no expense or liability to the Purchaser) and the Seller shall provide evidence of such payoff to the Purchaser’ reasonable satisfaction.  Should the Purchaser discover any obligation of the Company that was not paid prior to the Closing Date, the Sellers undertake to indemnify the Purchaser for any and all such liabilities, whether outstanding or contingent at the time of Closing.

 

  

4

  

 

3.1.4           The Company will have no assets or liabilities at the Closing Date.

3.1.5           The Company is not subject to any pending or threatened litigation, claims or lawsuits from any party, and there are no pending or threatened proceedings against the Company by any federal, state or local government, or any department, board, agency or other body thereof.

3.1.6           The Company is not a party to any contract, lease or agreement which would subject it to any performance or business obligations after the Closing.

3.1.7           The Company does not own any real estate or any interests in real estate.

3.1.8           The Company is not liable for any taxes, including income, real or personal property taxes, to any governmental or state agencies whatsoever.  The Company has timely filed all income, real or personal property, sales, use, employment or other governmental tax returns or reports required to be filed by it with any federal, state or other governmental agency and all taxes required to be paid by the Company in respect of such returns have been paid in full.  None of such returns are subject to examination by any such taxing authority and the Company has not received notice of any intention to require the Company to file any additional tax returns in any jurisdiction to which it may be subject.

 

3.1.9           The Company, to the actual knowledge of Sellers, is not in violation of any provision of laws or regulations of federal, state or local government authorities and agencies.

3.1.10           The Sellers either are or on the Closing Date will be, the lawful owners of record of the Acquired Shares, and the Sellers presently have, and will have at the Closing Date, the power to transfer and deliver the Acquired Shares to the Purchaser in accordance with the terms of this Agreement.  The delivery to the Purchaser of certificates evidencing the transfer of the Acquired Shares pursuant to the provisions of this Agreement will transfer to the Purchaser good and marketable title thereto, free and clear of all liens, encumbrances, restrictions and claims of any kind.

3.1.11           There are no authorized shares of the Company other than 100,000,000 common shares and 10,000,000 preferred shares, and there are no issued and outstanding shares of the Company other than 100,000 common shares.  Sellers at the Closing Date will have full and valid title to the Acquired Shares, and there will be no existing impediment or encumbrance to the sale and transfer of the Acquired Shares to the Purchaser; and on delivery to the Purchaser of the Acquired Shares being sold hereby, all of such Shares shall be free and clear of all liens, encumbrances, charges or assessments of any kind; such Shares will be legally and validly issued and fully paid and non-assessable shares of the Company’s common stock; and all such common stock has been issued under duly authorized resolutions of the Board of Directors of the Company.

3.1.12           All issuances of the Company of the shares in their common stock in past transactions have been legally and validly effected, without violation of any preemptive rights, and all of such shares of common stock are fully paid and non-assessable.

 

  

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3.1.13           There are no outstanding subscriptions, options, warrants, convertible securities or rights or commitments of any nature in regard to the Company’s authorized but unissued common stock or any agreements restricting the transfer of outstanding or authorized but unissued common stock. There are no shareholders agreements, voting agreements or other similar agreements with respect to the Company’s capital stock to which the Company is a party or, to the knowledge of the Company, between or among any of the Company’s shareholders.

3.1.14           There are no outstanding judgments, liens or any other security interests filed against the Company or any of its properties.

3.1.15           The Company has no subsidiaries.

3.1.16           The Company has no employment contracts or agreements with any of its officers, directors, or with any consultants; and the Company has no employees or other such parties.

3.1.17           The Company has no insurance or employee benefit plans whatsoever.

3.1.18           The Company is not in default under any contract, or any other document.

3.1.19           The Company has no outstanding powers of attorney and no obligations concerning the performance of the Sellers concerning this Agreement.

3.1.20           The execution and delivery of this Agreement, and the subsequent closing thereof, will not result in the breach by the Company or the Sellers of (i) any agreement or other instrument to which they are or have been a party or (ii) the Company’s Articles of Incorporation or Bylaws.

3.1.21           All financial and other information which the Company and/or the Sellers furnished or will furnish to the Purchaser, including information with regard to the Company and/or the Sellers contained in the SEC filings filed by the Company since its inception (i) is true, accurate and complete as of its date and in all material respects except to the extent such information is superseded by information marked as such, (ii) does not omit any material fact, not misleading and (iii) presents fairly the financial condition of the organization as of the date and for the period covered thereby.

3.1.22           The common stock of the Company is registered under Section 12(g) of the Securities Exchange Act of 1934, as amended (the "Exchange Act") and there are no proceedings pending to revoke or terminate such registration.  Since the date of the common stock's registration under the Exchange Act, the Company has filed all reports with the Securities and Exchange Commission required to be filed by the Exchange Act, including its Quarterly Report on Form 10-Q for March 31, 2011, and all such reports were filed timely.

The representations and warranties herein by the Sellers shall be true and correct in all material respects on and as of the Closing Date hereof with the same force and effect as though said representations and warranties had been made on and as of the Closing Date.

The representations and warranties made above shall survive the Closing Date and shall expire for all purposes in the date numerically corresponding to the Closing Date in the twelfth month after the Closing Date.

 

  

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3.2. Covenants of the Sellers and the Company.

From the date of this Agreement and until the Closing Date, the Sellers and the Company covenant the following:

3.2.1           The Sellers will, to the best of their respective abilities, preserve intact the current status of the Company as an issuer registered under Section 12(g) of the 1934 Exchange Act.

3.2.2           The Sellers will furnish Purchaser with all corporate records and documents, such as Articles of Incorporation and Bylaws, minute books, stock books, or any other corporate document or record (including financial and bank documents, books and records) requested by the Purchaser.

3.2.3           The Company will not enter into any contract or business transaction, merger or business combination, or incur any further debts or obligations without the express written consent of the Purchaser.

3.2.4           The Company will not amend or change its Articles of Incorporation or Bylaws, or issue any further shares or create any other class of shares in the Company without the express written consent of the Purchaser.

3.2.5           The Company will not issue any stock options, warrants or other rights or interests in or to its shares without the express written consent of the Purchaser.

3.2.6           The Sellers will not encumber or mortgage any right or interest in their shares of the common stock being sold to the Purchaser hereunder, and also they will not transfer any rights to such shares of the common stock to any third party whatsoever.

3.2.7           The Company will not declare any dividend in cash or stock, or any other benefit.

3.2.8           The Company will not institute any bonus, benefit, profit sharing, stock option, pension retirement plan or similar arrangement.

3.2.9           At Closing, the Company and the Sellers will obtain and submit to the Purchaser resignations of current officers and directors.

3.2.10           The Sellers agree to indemnify the Purchaser against and to pay any loss, damage, expense or claim or other liability incurred or suffered by the Purchaser by reason of the breach of any covenant or inaccuracy of any warranty or representation contained in this Agreement.

3.3           Representations and Warranties of the Purchaser. The Purchaser hereby makes the following representations and warranties to the Sellers:

 

  

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3.3.1           The Purchaser has the requisite power and authority to enter into and perform this Agreement and to purchase the shares being sold to it hereunder.  The execution, delivery and performance of this Agreement by such Purchaser and the consummation by it of the transactions contemplated hereby and thereby have been duly authorized by all necessary action, and no further consent or authorization of such Purchaser is required.  This Agreement has been duly authorized, executed and delivered by such Purchaser and constitutes, or shall constitute when executed and delivered, a valid and binding obligation of such Purchaser enforceable against such Purchaser in accordance with the terms thereof.

3.3.2           The Purchaser is, and will be at the time of the execution of this Agreement, an “accredited investor”, as such term is defined in Regulation D promulgated by the Commission under the Securities Act of 1933, as amended (the “1933 Act”), is experienced in investments and business matters, has made investments of a speculative nature and has purchased securities of United States publicly-owned companies in the past and, with its representatives, has such knowledge and experience in financial, tax and other business matters as to enable such Purchaser to utilize the information made available by the Company to evaluate the merits and risks of and to make an informed investment decision with respect to the proposed purchase, which represents a speculative investment.  The Purchaser has the authority and is duly and legally qualified to purchase and own shares of the Company.  The Purchaser is able to bear the risk of such investment for an indefinite period and to afford a complete loss thereof.  The information set forth on the signature page hereto regarding the Purchaser is accurate.

3.3.3           On the Closing Date, such Purchaser will purchase the Acquired Shares pursuant to the terms of this Agreement for its own account for investment only and not with a view toward, or for resale in connection with, the public sale or any distribution thereof.

3.3.4           The Purchaser understands and agrees that the Acquired Shares have not been registered under the 1933 Act or any applicable state securities laws, by reason of their issuance in a transaction that does not require registration under the 1933 Act (based in part on the accuracy of the representations and warranties of the Purchaser contained herein), and that such Acquired Shares must be held indefinitely unless a subsequent disposition is registered under the 1933 Act or any applicable state securities laws or is exempt from such registration.  In any event, and subject to compliance with applicable securities laws, the Purchaser may enter into lawful hedging transactions in the course of hedging the position they assume and the Purchaser may also enter into lawful short positions or other derivative transactions relating to the Acquired Shares, or interests in the Acquired Shares, and deliver the Acquired Shares, or interests in the Acquired Shares, to close out their short or other positions or otherwise settle other transactions, or loan or pledge the Acquired Shares, or interests in the Acquired Shares, to third parties who in turn may dispose of these Acquired Shares.

3.3.5           The Acquired Shares shall bear the following or similar legend:

“THE ISSUANCE AND SALE OF THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, NOR APPLICABLE STATE SECURITIES LAWS.  THE SECURITIES MAY NOT BE OFFERED FOR SALE, SOLD, TRANSFERRED OR ASSIGNED (I) IN THE ABSENCE OF (A) AN EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR (B) AN OPINION OF COUNSEL (WHICH COUNSEL SHALL BE SELECTED BY THE HOLDER), IN A GENERALLY ACCEPTABLE FORM, THAT REGISTRATION IS NOT REQUIRED UNDER SAID ACT OR (II) UNLESS SOLD PURSUANT TO RULE 144 OR RULE 144A UNDER SAID ACT.  NOTWITHSTANDING THE FOREGOING, THE SECURITIES MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT OR OTHER LOAN OR FINANCING ARRANGEMENT SECURED BY THE SECURITIES.”

 

  

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3.3.6           The offer to sell the Acquired Shares was directly communicated to such Purchaser by the Company.  At no time was such Purchaser presented with or solicited by any leaflet, newspaper or magazine article, radio or television advertisement, or any other form of general advertising or solicited or invited to attend a promotional meeting otherwise than in connection and concurrently with such communicated offer.

3.3.7           Such Purchaser represents that the foregoing representations and warranties are true and correct as of the date hereof and, unless such Purchaser otherwise notifies the Company prior to the Closing Date shall be true and correct as of the Closing Date.

3.3.8           The foregoing representations and warranties shall survive the Closing Date and for a period of one year thereafter.

Section 4.  Miscellaneous

4.1. Expenses.

Each of the Parties shall bear his own expenses in connection with the transactions contemplated by this Agreement.

4.2. Governing Law.

 

The interpretation and construction of this Agreement, and all matters relating hereto, shall be governed by the laws of the State of Nevada applicable to agreements executed and to be wholly performed solely within such state.

4.3. Resignation of Old and Appointment of New Board of Directors and Officers.

 

The Company and the Sellers shall take such corporate action(s) required by Europa Acquisition's Articles of Incorporation and/or Bylaws to (a) appoint the below named persons to their respective positions, to be effective on the eleventh day following the Closing Date, and (b) obtain and submit to the Purchaser, together with all required corporate action(s) the resignation of the current board of directors, and any and all corporate officers and check signers as of the Closing Date.

	
Name

	
Position

	
Siwei Wang

	
Director, President and CEO

 

4.4. Disclosure.

The Sellers and the Company agree that they will not make any public comments, statements, or communications with respect to, or otherwise disclose the execution of this Agreement or the terms and conditions of the transactions contemplated by this Agreement without the prior written consent of the Purchaser, which consent shall not be unreasonably withheld.

 

  

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4.5. Notices.

 

Any notice or other communication required or permitted under this Agreement shall be sufficiently given if delivered in person or sent by facsimile or by overnight registered mail, postage prepaid, addressed as follows:

If to Sellers, to:

Peter Reichard

 

 

If to the Company:

Europa Acquisition IV, Inc.

With a copy to (which shall not constitute notice):

Anslow & Jaclin, LLP

195 Route 9, Suite 204

Manalapan, NJ 07726

If to the Purchaser, to:

Siwei Wang

With a copy to (which shall not constitute notice):

 

Or such other address or number as shall be furnished in writing by any such Party, and such notice or communication shall, if properly addressed, be deemed to have been given as of the date so delivered or sent by facsimile.

4.6. Parties in Interest.

 

This Agreement may not be transferred, assigned or pledged by any Party hereto, other than by operation of law.  This Agreement shall be binding upon and shall inure to the benefit of the Parties hereto and their respective heirs, executors, administrators, successors and permitted assigns.

4.7. Entire Agreement.

 

This Agreement and the other documents referred to herein contain the entire understanding of the Parties hereto with respect to the subject matter contained herein. This Agreement shall supersede all prior agreements and understandings between the Parties with respect to the transactions contemplated herein.

 

  

10

  

 

4.8. Amendments.

This Agreement may not be amended or modified orally, but only by an agreement in writing signed by the Parties.

4.9. Severability.

 

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

4.10. Counterparts.

 

This Agreement may be executed in any number of counterparts, including counterparts transmitted by telecopier, PDF or facsimile transmission, any one of which shall constitute an original of this Agreement.  When counterparts of copies have been executed by all parties, they shall have the same effect as if the signatures to each counterpart or copy were upon the same document and copies of such documents shall be deemed valid as originals.  The Parties agree that all such signatures may be transferred to a single document upon the request of any Party.

[-signature page follows-]

 

  

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In Witness Whereof, each of the Parties hereto has caused its/his name to be hereunto subscribed as of the day and year first above written.

Company:

Europa Acquisition IV, Inc.

By: /s/ Peter Reichard

Name: Peter Reichard

Title: Chief Executive Officer

 

Sellers:

By: /s/ Peter Reichard

Name: Peter Reichard, Individually

 

By: /s/ Peter Coker

Name: Peter Coker, Individually

 

Purchaser:

By: /s/ Siwei Wang

Name: Siwei Wang, Individually

 

12<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0.5in; text-align: center">REGENICIN, INC.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0.5in; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0.5in; text-align: center">2010 EQUITY INCENTIVE PLAN</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0.5in; text-align: center"><BR>
STOCK OPTION GRANT NOTICE</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0.5in">Regenicin, Inc.
(the &ldquo;<B><I>Company</I></B>&rdquo;) hereby grants to you an Option (the &ldquo;<B><I>Option</I></B>&rdquo;) to purchase shares
of the Company&rsquo;s Common Stock, $0.001 par value (&ldquo;<B><I>Shares</I></B>&rdquo;) under the Company&rsquo;s 2010 Equity
Incentive Plan (the &ldquo;<B><I>Plan</I></B>&rdquo;). The Option is subject to all the terms and conditions set forth in this
Stock Option Grant Notice (this &ldquo;<B><I>Grant Notice</I></B>&rdquo;), in the Stock Option Agreement and the Plan, which are
attached to and incorporated into this Grant Notice in their entirety.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 41%; padding-top: 12pt; padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; text-align: justify">Participant :</TD>
    <TD STYLE="width: 59%; padding-top: 12pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; text-align: justify">Grant Date:</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; text-align: justify">Vesting Commencement Date:</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; text-align: justify">Number of Shares Subject to Option:</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; text-align: justify">Exercise Price (per Unit):</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; text-align: justify">Option Expiration Date:</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; text-align: justify">Type of Option:</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">__ Incentive Stock Option* &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; __ Nonqualified Stock Option</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; text-align: justify">Vesting and Exercisability Schedule:</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Additional Terms/Acknowledgement</B>: You
acknowledge receipt of, and understand and agree to, this Grant Notice, the Stock Option Agreement and the Plan. You further acknowledge
that as of the Grant Date, this Grant Notice, the Stock Option Agreement and the Plan set forth the entire understanding between
you and the Company regarding the Option and supersede all prior oral and written agreements on the subject.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">REGENICIN, INC.</TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">PARTICIPANT</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> By:</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold">_____________________________________________________</TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">_____________________________________________________</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> Name: </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> Randall McCoy</TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Signature</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 8%; padding-right: 5.4pt; padding-left: 5.4pt"> Its:</TD>
    <TD STYLE="width: 43%; padding-right: 5.4pt; padding-left: 5.4pt"> CEO</TD>
    <TD STYLE="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt">Date:</TD>
    <TD STYLE="width: 34%; padding-right: 5.4pt; padding-left: 5.4pt">_____________________________________________________</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold"></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Address:</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">_____________________________________________________</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold">Attachments :</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Taxpayer ID:</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">_____________________________________________________</TD></TR>
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    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold">&nbsp;1. Stock Option Agreement</TD>
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    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold">&nbsp;2.&nbsp;2010 Equity Incentive Plan</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0.5in; text-align: center">REGENICIN, INC.<BR STYLE="mso-special-character: line-break">
<BR STYLE="mso-special-character: line-break">
</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0.5in; text-align: center">2010 EQUITY INCENTIVE PLAN</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0.5in 0; text-align: center">STOCK OPTION AGREEMENT</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0; text-align: justify; text-indent: 0.5in">Pursuant to your Stock
Option Grant Notice (the &ldquo;<B><I>Grant Notice</I></B>&rdquo;) and this Stock Option Agreement (this &ldquo;<B><I>Agreement</I></B>&rdquo;),
Regenicin, Inc. has granted you an Option under its <FONT STYLE="font-variant: small-caps">2010 </FONT>Equity Incentive Plan (the
&ldquo;<B><I>Plan</I></B>&rdquo;) to purchase the number of shares of the Company&rsquo;s Common Stock indicated in your Grant
Notice (the &ldquo;<B><I>Shares</I></B>&rdquo;) at the exercise price indicated in your Grant Notice. Capitalized terms not defined
in this Agreement but defined in the Plan have the same definitions as in the Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The details of the
Option are as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">1.&#9;<B>Vesting
and Exercisability</B>. Subject to the limitations contained herein, the Option will vest and become exercisable as provided in
your Grant Notice, provided that vesting will cease upon your Termination of Service and the unvested portion of the Option will
terminate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">2.&#9;<B>Securities Law
Compliance</B>. Notwithstanding any other provision of this Agreement, you may not exercise the Option unless the Shares issuable
upon exercise are registered under the Securities Act or, if such Shares are not then so registered, the Company has determined
that such exercise and issuance would be exempt from the registration requirements of the Securities Act. The exercise of the Option
must also comply with other applicable laws and regulations governing the Option, and you may not exercise the Option if the Company
determines that such exercise would not be in material compliance with such laws and regulations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0.5in">3.<B>&#9;Incentive
Stock Option Qualification</B>.<B> </B> If so designated in your Grant Notice, all or a portion of the Option is intended to qualify
as an Incentive Stock Option under federal income tax law, but the Company does not represent or guarantee that the Option qualifies
as such.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0.5in">If the Option has
been designated as an Incentive Stock Option and the aggregate Fair Market Value (determined as of the grant date) of the Shares
subject to the portions of the Option and all other Incentive Stock Options you hold that first become exercisable during any calendar
year exceeds $100,000, any excess portion will be treated as a Nonqualified Stock Option, unless the Internal Revenue Service changes
the rules and regulations governing the $100,000 limit for Incentive Stock Options. A portion of the Option may be treated as a
Nonqualified Stock Option if certain events cause exercisability of the Option to accelerate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0.5in">4.<B>&#9;Notice
of Disqualifying Disposition</B>. To the extent the Option has been designated as an Incentive Stock Option, to obtain certain
tax benefits afforded to Incentive Stock Options, you must hold the Shares issued upon the exercise of the Option for two years
after the Grant Date and one year after the date of exercise. You may be subject to the alternative minimum tax at the time of
exercise. By accepting the Option, you agree to promptly notify the Company if you dispose of any of the Shares within one year
from the date you exercise all or part of the Option or within two years from the Grant Date.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0.5in">5.&#9;<B>Independent
Tax Advice.</B> You should obtain tax advice when exercising the Option and prior to the disposition of the Shares. By accepting
the Option, you agree to promptly notify the Company if you dispose of any of the Shares within one year from the date you exercise
all or part of the Option or within two years from the Grant Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0.5in">6.<B>&#9;Method
of Exercise</B>. You may exercise the Option by giving written notice to the Company (or other Company-approved party), in form
and substance satisfactory to the Company, which will state your election to exercise the Option and the number of Shares for which
you are exercising the Option. The written notice must be accompanied by full payment of the exercise price for the number of Shares
you are purchasing. You may make this payment in any combination of the following: (a)&nbsp;by cash; (b)&nbsp;by check acceptable
to the Company; (c)&nbsp;if permitted by the Committee for Nonqualified Stock Options, by having the Company withhold Shares that
would otherwise be issued on exercise of the Option that have a Fair Market Value on the date of exercise of the Option equal to
the exercise price of the Option; (d) if permitted by the Committee, by using Shares you already own; (e)&nbsp;if the Shares are
registered under the Exchange Act and to the extent permitted by law, by instructing a broker to deliver to the Company the total
payment required, all in accordance with the regulations of the Federal Reserve Board; or (f)&nbsp;by any other method permitted
by the Committee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0.5in">7.&#9;<B>Treatment
upon Termination of Employment or Service Relationship</B>. The unvested portion of the Option will terminate automatically and
without further notice immediately upon your Termination of Service. You may exercise the vested portion of the Option as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 1in">(a)&#9;<I>General
Rule</I>. You must exercise the vested portion of the Option on or before the earlier of (i)&nbsp;three months after your Termination
of Service and (ii)&nbsp;the Option Expiration Date;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 1in">(b)&#9;<I>Retirement
or Disability</I>. In the event of your Termination of Service due to Retirement or Disability, you must exercise the vested portion
of the Option on or before the earlier of (i)&nbsp;one year after your Termination of Service and (ii)&nbsp;the Option Expiration
Date;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 1in">(c)&#9;<I>Death</I>.
In the event of your Termination of Service due to your death, the vested portion of the Option must be exercised on or before
the earlier of (i)&nbsp;one year after your Termination of Service and (ii)&nbsp;the Option Expiration Date. If you die after your
Termination of Service but while the Option is still exercisable, the vested portion of the Option may be exercised until the earlier
of (x)&nbsp;one year after the date of death and (y)&nbsp;the Option Expiration Date; and</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 1in">(d)&#9;<I>Cause</I>.
The vested portion of the Option will automatically expire at the time the Company first notifies you of your Termination of Service
for Cause, unless the Committee determines otherwise. If your employment or service relationship is suspended pending an investigation
of whether you will be terminated for Cause, all your rights under the Option likewise will be suspended during the period of investigation.
If any facts that would constitute termination for Cause are discovered after your Termination of Service, any Option you then
hold may be immediately terminated by the Committee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0.5in">Notwithstanding
the foregoing, if exercise of the vested portion of the Option following your Termination of Service would be prohibited solely
because the issuance of Shares upon exercise of the Option would violate the registration requirements under the Securities Act
or the Company&rsquo;s insider trading policy requirements, then the Option will remain exercisable until the earlier of (i) the
Option Expiration Date and (ii) expiration of a period of three months after your Termination of Service during which exercise
of the Option would not be in violation of the Securities Act or the Company&rsquo;s insider trading policy requirements (provided
that in the event of Retirement, Disability or death, this additional three-month period will apply only following an initial election
by a Participant or his or her estate or beneficiary to exercise the Option and will serve only to extend, not shorten, the one
year post-termination exercise periods set forth in subsections 10(b) and 10(c) above).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0.5in">The Option must
be exercised within three months after termination of employment for reasons other than death or Disability and one year after
termination of employment due to Disability to qualify for the beneficial tax treatment afforded Incentive Stock Options.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0.5in"><B>It is your responsibility
to be aware of the date the Option terminates. </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0.5in">8.<B>&#9;Limited
Transferability</B>. During your lifetime only you can exercise the Option. The Option is not transferable except by will or by
the applicable laws of descent and distribution. The Plan provides for exercise of the Option by a beneficiary designated on a
Company-approved form or the personal representative of your estate. Notwithstanding the foregoing and to the extent permitted
by Section 422 of the Internal Revenue Code of 1986, the Committee, in its sole discretion, may permit you to assign or transfer
the Option, subject to such terms and conditions as specified by the Committee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0.5in">9.&#9;<B>Withholding
Taxes</B>.<B> </B>As a condition to the exercise of any portion of the Option, you must make such arrangements as the Company may
require for the satisfaction of any federal, state, local or foreign withholding tax obligations that may arise in connection with
such exercise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0.5in">10.<B>&#9;Option
Not an Employment or Service Contract</B>. Nothing in the Plan or this Agreement will be deemed to constitute an employment contract
or confer or be deemed to confer any right for you to continue in the employ of, or to continue any other relationship with, the
Company or any Related Company or limit in any way the right of the Company or any Related Company to terminate your employment
or other relationship at any time, with or without Cause.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0.5in">11.&#9;<B>No Right
to Damages</B>. You will have no right to bring a claim or to receive damages if you are required to exercise the vested portion
of the Option within three months (one year in the case of Retirement, Disability or death) of your Termination of Service or if
any portion of the Option is cancelled or expires unexercised. The loss of existing or potential profit in the Option will not
constitute an element of damages in the event of your Termination of Service for any reason even if the termination is in violation
of an obligation of the Company or a Related Company to you.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0.5in">12.&#9;<B>Binding
Effect</B>. This Agreement will inure to the benefit of the successors and assigns of the Company and be binding upon you and your
heirs, executors, administrators, successors and assigns.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0.5in">13.&#9;<B>Section
409A Compliance</B>. Notwithstanding any provision in the Plan or this Agreement to the contrary, the Committee may, at any time
and without your consent, modify the terms of the Option as it determines appropriate to avoid the imposition of interest or penalties
under Section 409A of the Code; provided, however, that the Committee makes no representations that the Option will be exempt from
or comply with Section&nbsp;409A of the Code and makes no undertaking to preclude Section 409A of the Code from applying to the
Option.</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">*
See Sections 3 and 4 of the Stock Option Agreement.</P>

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