Document:

Exhibit 10.1

 

ECO INTEGRATED TECHNOLOGIES, INC.

 

STOCK OPTION AGREEMENT

(Non-Qualified Option)

 

THIS STOCK OPTION AGREEMENT (the "Agreement")
is entered into by and among ________________, an individual (the "Optionee"), and ECO INTEGRATED TECHNOLOGIES, INC.,
a Delaware corporation (the "Company").

 

RECITALS

 

WHEREAS, the Company desires to grant a stock
option for the purpose of providing the Optionee, as a key employee or consultant of the Company and its affiliates, with increased
incentive to render services, to exert maximum effort for the business success of the Company and to strengthen the identification
of the Optionee with the shareholders. The Company, acting through its Board of Directors (the "Board") has determined
that its interests will be advanced by the issuance to Optionee of this stock option.

 

NOW, THEREFORE, in consideration of the foregoing
recitals and the mutual promises, representations, warranties, covenants and agreements hereinafter set forth, and intending to
be legally bound, the parties hereto hereby agree as follows:

 

SECTION 1.  GRANT OF OPTION.  Subject to the terms
and conditions set forth herein, the Company hereby irrevocably grants to Optionee the right and option, of the character indicated
on EXHIBIT A attached hereto ("Option"), to purchase from the Company the number of shares of the Company's common
stock, $0.0001 par value ("Common Stock") set out on EXHIBIT A at the price per share indicated on EXHIBIT
A; provided, however, that this Option shall only be exercisable to the extent that the vesting schedule set forth on EXHIBIT
A has been satisfied. Should the Optionee’s services to the Company be terminated, for any reason, prior to full vesting,
any unvested portion of the Option shall expire and the rights to exercise this Option with respect to such unvested portion shall
terminate effective on the date of Optionee’s termination of services to the Company.

 

SECTION 2.  OPTION PERIOD.  Subject to satisfaction
of the vesting schedule set forth on EXHIBIT A, the Option herein granted may be exercised by Optionee in whole or in part
at any time during a period beginning on the date hereof and ending on the expiration date set out on EXHIBIT A (the "Option
Period").

 

SECTION 3.  PROCEDURE FOR EXERCISE.  The Option
herein granted may be exercised by the delivery by Optionee of written notice to the Company setting forth the number of shares
of Common Stock with respect to which the Option is being exercised. The notice shall be accompanied by, at the election of the
Optionee:

 

(a)        cash,
cashier's check, bank draft, or postal or express money order payable to the order of the Company;

 

(b)       certificates
representing shares of Common Stock theretofore owned by Optionee duly endorsed for transfer to the Company;

 

    	 

    	 

    

 

(c)        a
“cashless exercise” election whereby the Optionee instructs the Company to withhold the number of shares of Common
Stock the fair market value, the less the exercise price, of which is equal to the aggregate exercise price of the shares of Common
Stock issuable upon exercise of the Option; or

 

(d)       any
combination of the preceding, equal in the value to the aggregate exercise price.

 

Notice may also be delivered by telecopy provided that the exercise
price of such shares is received by the Company on the same day the telecopy transmission is received by the Company. The notice
shall specify the address to which the certificates for such shares are to be mailed. An option to purchase shares of Common Stock
hereunder shall be deemed to have been exercised immediately prior to the close of business on the date (i) written notice of such
exercise and (ii) payment in full of the exercise price for the number of shares for which Options are being exercised, are both
received by the Company and Optionee shall be treated for all purposes as the record holder of such shares of Common Stock as of
such date.

 

As promptly as practicable after receipt of
such written notice and payment, the Company shall cause the shares being purchased to be issued to the Optionee and to record
the issuance of such shares to Optionee.

 

SECTION 4.  DEATH.  In the event the Optionee
dies during the term of this Option, the options previously granted to Optionee may be exercised (to the extent Optionee would
have been entitled to do so at the date of death) at any time and from time to time over the balance of the Option Period, by the
guardian of Optionee's estate, the executor or administrator of Optionee's estate or by the person or persons to whom Optionee's
rights under this Option Agreement shall pass by will or the laws of descent and distribution.

 

SECTION 5.  TRANSFERABILITY.  This Option shall
not be transferable by Optionee otherwise than by Optionee's will or by the laws of descent and distribution or pursuant to a qualified
domestic relations order as defined in the Code or Title I of the Employee Retirement Income Security Act, as amended, or the rules
thereunder. During the lifetime of Optionee, the Option shall be exercisable only by Optionee. Any heir or legatee of Optionee
shall take rights herein granted subject to the terms and conditions hereof. No such transfer of this Option Agreement to heirs
or legatees of Optionee shall be effective to bind the Company unless the Company shall have been furnished with written notice
thereof and a copy of such evidence as the Board may deem necessary to establish the validity of the transfer and the acceptance
by the transferee or transferees of the terms and conditions hereof.

 

SECTION 6.  NO RIGHTS AS SHAREHOLDER.  Optionee
shall have no rights as a shareholder with respect to any shares of Common Stock covered by this Option Agreement until the Option
is exercised by written notice and accompanied by payment as provided in Section 3 of this Option Agreement.

 

    	ECO Integrated – Stock Option Agreement – NQO 2015	2	 

    	 

    

 

SECTION 7.  CHANGES IN CAPITAL STRUCTURE.  If
the outstanding shares of Common Stock or other securities of the Company, or both, for which the Option is then exercisable shall
at any time be changed or exchanged by declaration of a stock dividend, stock split, combination of shares, or recapitalization,
the number and kind of shares of Common Stock or subject to the Option and the exercise price, shall be appropriately and equitably
adjusted so as to maintain the proportionate number of shares or other securities without changing the aggregate exercise price.

 

SECTION 8.  COMPLIANCE WITH LAWS.  Notwithstanding
any of the other provisions hereof, Optionee agrees that he or she will not exercise the Option granted hereby, and that the Company
will not be obligated to transfer any shares pursuant to this Option Agreement, if the exercise of the Option or the transfer of
such shares of Common Stock would constitute a violation by Optionee or by the Company of any provision of any law or regulation
of any governmental authority.

 

SECTION 9.  NO RIGHT TO CONTINUED SERVICE.  Nothing
contained herein shall be construed as conferring upon Optionee the right to continue in the service of the Company as an employee
or consultant.

 

SECTION 10.  RESOLUTION OF DISPUTES.  As a condition
of the granting of this Option, Optionee, and Optionee's heirs, personal representatives and successors agree that any dispute
or disagreement which may arise hereunder shall be determined by the Board in its sole discretion and that any such determination
and any interpretation by the Board of the terms of this Option Agreement shall be final and shall be binding and conclusive, for
all purposes, upon the Company, Optionee, and Optionee's heirs, personal representatives and successors.

 

SECTION 11.  LEGENDS ON CERTIFICATE.  The shares
of Common Stock issuable on exercise of this Option have not been registered under the Securities Act of 1933 (the “Securities
Act”), or under any state securities laws, and the shares may only be sold pursuant to a registration statement or an available
exemption from registration under the Securities Act. Accordingly, the certificates representing the shares of Common Stock purchased
by exercise of the Option will be stamped or otherwise imprinted with legends in such form as the Company or its counsel may require
with respect to any applicable restrictions on sale or transfer and the stock transfer records of the Company will reflect stop-transfer
instructions with respect to such shares.

 

SECTION 12.  NOTICES.  Every notice hereunder
shall be in writing and shall be given by registered or certified mail. All notices of the exercise of any Option hereunder shall
be directed to the Company as follows: Eco Waste Conversion Solutions, Inc., 60 Corporate Park, Irvine, California 92606. Any notice
given by the Company to Optionee shall be directed to Optionee at the address set forth on EXHIBIT A attached hereto. The
Company shall be under no obligation whatsoever to advise Optionee of the existence, maturity or termination of any of Optionee's
rights hereunder and Optionee shall be deemed to have familiarized himself/herself with all matters contained herein.

 

    	ECO Integrated – Stock Option Agreement – NQO 2015	3	 

    	 

    

 

SECTION 13.  WITHHOLDING OF TAX.  Optionee shall
notify the Company of the disposition of any shares of Common Stock acquired pursuant to this Option and, to the extent that the
exercise of this Option or the disposition of shares of Common Stock acquired by exercise of this Option results in compensation
income to Optionee for federal or state income tax purposes, Optionee shall pay to the Company at the time of such exercise or
disposition such amount of money as the Company may require to meet its obligation under applicable tax laws or regulations; and,
if Optionee fails to do so, the Company is authorized to withhold from any cash remuneration then or thereafter payable to Optionee,
any tax required to be withheld by reason of such resulting compensation income or Company may otherwise refuse to issue or transfer
any shares otherwise required to be issued or transferred pursuant to the terms hereof.

 

SECTION 14.  BINDING EFFECT.  This Option Agreement
shall be binding upon and inure to the benefit of any successors to the Company and all persons lawfully claiming under Optionee
as provided herein.

 

IN WITNESS WHEREOF, this Stock Option Agreement
has been executed as of this ____ day of _______________ 20____.

 

	 	ECO INTEGRATED TECHOLOGIES, INC.
	 	 
	 	By:	 
	 	Jess Rae Booth, CEO
	 	 
	 	OPTIONEE:
	 	 
	 	 

 

    	ECO Integrated – Stock Option Agreement – NQO 2015	4	 

    	 

    

 

EXHIBIT A

 

STOCK OPTION AGREEMENT

 

OPTION GRANT DATE:

 

OPTIONEE:

 

OPTIONEE ADDRESS:

 

		OPTION CHARACTER:	Nonqualified Stock Option

 

NUMBER OF

OPTION SHARES:

 

EXERCISE PRICE:

 

EXPIRATION DATE:

 

VESTING SCHEDULE:

 

IN WITNESS WHEREOF, this Exhibit A to Stock Option Agreement has
been executed and acknowledged as of the day and date indicated.

 

	 	ECO INTEGRATED TECHOLOGIES, INC.
	 	 
	Dated: __________, 20___	 
	 	By:	 
	 	Jess Rae Booth, CEO
	 	 
	 	OPTIONEE:
	Dated: __________, 20___	 
	 	 
	 	 

 

    	ECO Integrated – Stock Option Agreement – NQO 2015	5Exhibit 10.2

 

LICENSE
AGREEMENT – U.S.

MICHAEL
J. LURVEY

AND

ECO
WASTE CONVERSION SOLUTIONS CORPORATION

August 2014

 

NON-EXCLUSIVE U.S. LICENSE AGREEMENT FOR
TCOM TECHNOLOGY

 

The non-exclusive U.S. License Agreement for TCOM
Technology (“Agreement”) between Michael J. Lurvey ( “Lurvey”) and the “to-be-formed entity
that will become a Public Company named ECO Waste Conversion Solutions Corporation” and its future subsidiaries (hereinafter
referred to as “ECO”) shall be for the use of the existing U.S. Patent No. 8328991 (“Patent”) issued
December 11, 2012; any existing and future upgrades or improvements to applicable proprietary intellectual property for the Thermal
Conversion of Organic Materials into Salable By-Products (“TCOM”) System; any future issued U.S. Patents related
to the TCOM System; or similar system; and any “black box” software developed for the operation of the TCOM System.
This Agreement shall be for a term concurrent with the term of the Patents. This Agreement shall not limit the number
of TCOM Facilities that ECO shall be entitled to develop and/or own in any United States location that utilizes the TCOM System.
However, it is agreed by Lurvey and ECO that ECO shall be entitled to not fewer than twenty-five licensed locations in
the U.S. with an exclusive right to add additional locations beyond the twenty-five licensed locations within the county and/or
Metropolitan Statistical Area in which ECO has developed a TCOM Facility, provided ECO must begin development of its first Licensed
Facility within twelve (12) months of Certification of the Quantity and Quality of the conversion of Scrap Tires to commercially
salable SynFuel and Activated Carbon from the Demonstration Plant located in Kapolei, Oahu. ECO acknowledges that Lurvey has previously
granted one or more non-exclusive licenses to other entities for the development and operation of TCOM Facilities in the U.S. and
that Lurvey’s company, Carbon Geo-Tek Consultants, Inc., has an existing operating TCOM Facility referred to as the Kapolei
Plant on the island of Oahu. Lurvey further agrees that any future licenses granted to other entities will not have exclusive provisions
that would preclude ECO from the development and operation of one or more TCOM Facilities in any one of the states of the U.S.

 

		a.	License Fees – Pre-Construction of ECO Owned TCOM Facilities: ECO agrees that for each TCOM Facility that ECO,
a subsidiary, or an affiliate develops and owns that Lurvey, or his designated entity, or his designated beneficiary should Lurvey
become

  

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incapacitated or deceased, shall be paid a one-time
Licensing Fee per Location in the amount of One Hundred Twenty-Five Thousand Dollars ($125,000) prior to the commencement
of construction. This fee will pay for the initial expense of designing the specific equipment needed at the location for the TCOM
facility. This Licensing Fee shall be paid from the initial draw of funding for the respective TCOM Facility Location following
that TCOM Facility Location obtaining the required building permits for the construction of the TCOM Facility. There shall be NO
limitation on the number of such Licensing Fees that shall be paid to Lurvey.

 

		b.	License Fees – Commercial Operation of ECO Owned TCOM Facilities: ECO agrees that for each TCOM Facility that
ECO, a subsidiary, or an affiliate develops and has an ownership interest in that Lurvey, or his designated entity, or his designated
beneficiary should Lurvey become incapacitated or deceased, shall be paid a one-time Additional Licensing Fee per Location in the
amount of Two Hundred Fifty Thousand Dollars ($250,000), with One Hundred Fifty Thousand Dollars ($150,000) of that Additional
Licensing Fee payable at commencement of construction of the TCOM Facility and the remaining One Hundred Thousand Dollars of the
Additional Licensing Fee payable following the completion of the first full calendar quarter of commercial operations of the
TCOM Facility where “commercial operations” is defined as the operation of the TCOM Facility in a manner and with results
consistent with the design capacity for the number of TCOM Processors installed. There shall be NO limitation on the number of
such Additional Licensing Fees that shall be paid to Lurvey.

 

		c.	Prepaid License Fees – ECO Owned TCOM Facility in Las Vegas: ECO Waste Conversion Solutions Corporation agrees
that it will prepay One Hundred Seventy-Five Thousand Dollars ($175,000) for the evaluation and design portion of
the total Three Hundred and Seventy-Five Thousand Dollars ($375,000) of License Fees for the ECO Owned TCOM Facility to
be developed in Las Vegas as required by Paragraphs a. and b. above from the funding that ECO receives over the initial four months
from its sale of Common Shares to the public. The payments of the above Prepaid License Fees are anticipated to be paid to Lurvey
as follows:

 

Month One - $25,000

Month Two - $50,000

Month Three - $50,000

Month Four - $50,000

 

The balance of the unpaid License Fee from Paragraph
b. above for ECO’s Las Vegas TCOM Facility would be paid in the month following the first full calendar quarter of

  

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commercial operations of the TCOM Facility in a manner
and with results consistent with the design capacity for the number of TCOM Processors installed.

 

		d.	License Fees – Non – ECO Owned TCOM Facilities: In the event that ECO desires to provide a Sub-License of
the TCOM System to a third-party that is acceptable exclusively to ECO, Lurvey concurrently with the execution of the Sub-License
with that third-party shall be paid a One Hundred Twenty-Five Thousand Dollars ($125,000) Sub-License Fee. The Sub-License
Fee shall permit the initial and continued use of the TCOM Technology and related items to the sub-licensee. ECO shall have the
right to sub-license the TCOM Technology and the other proprietary intellectual property owned by Lurvey or any successor as described
in the initial paragraph of this Agreement. ECO shall have the right to negotiate additional compensation to be paid to it for
the Sub-License with no obligation to share any additional compensation with Lurvey. There shall be NO limitation on the number
of such Sub-License Fees that shall be paid to Lurvey.

 

		e.	Production Royalties – ECO Owned TCOM Facilities: ECO agrees that for each TCOM Facility that it owns and develops
in the U.S., Lurvey shall be paid a Production Royalty at a rate of five percent (5%) of Operating Profits from the sale
of by-products produced by the TCOM System for a period of five (5) years. For the purposes of this paragraph, the term
“Operating Profits” shall mean the gross collected sales revenue less the Cost of Goods Sold as defined by Generally
Accepted Accounting Principles and the standard SG&A expenses otherwise known as Selling, General, and Administrative expenses.
No other TCOM Facility operating costs shall be deducted in the calculation of Operating Profits. The payment of the Production
Royalties from each U.S. operating subsidiary shall be paid following the end of each calendar quarter to Lurvey. The computation
of the Production Royalties due Lurvey shall be a specific item that is certified annually by the independent auditors for each
operating TCOM Facility.

 

		f.	Production Royalties – Non – ECO Owned TCOM Facilities: ECO agrees that for each TCOM Facility that it sub-licenses
pursuant to Paragraph d. above, that Lurvey shall be paid a Production Royalty at a rate of five percent (5%) of Operating Profits
from the sale of by-products produced by the TCOM System for a period of five (5) years. For the purposes of this paragraph,
the term “Operating Profits” shall mean the gross collected sales revenue less the Cost of Goods Sold as defined by
Generally Accepted Accounting Principles and the standard SG&A expenses otherwise known as Selling, General, and Administrative
expenses. No other TCOM Facility operating costs shall be deducted in the calculation of Operating Profits. The payment of the
Production Royalties from each Non-U.S. operating subsidiary shall be paid following the end of each calendar quarter to

 

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Lurvey. The computation of the Production Royalties
due Lurvey shall be a specific item that is certified annually by the independent auditors for the sub-licensee for each operating
TCOM Facility operated by a sub-licensee of ECO.

 

		g.	TCOM Facility Design and Equipment Acquisition Assistance: Lurvey and/ or Carbon Geo-Tek Consultants Inc., and/or any
successor entity, collectively referred to as “Consultants” will continually assist in refining the design and equipment
to be acquired for the operation of each and every TCOM Facility Location with the Licensee paying for any future equipment upgrades
done to that particular TCOM Facility that the Licensee elects to install. The Consultants shall assist Technip USA, Inc. (“Technip”)
and/or any other entity that is providing similar services to the various operating subsidiaries that will be developing the respective
TCOM Facilities in the U.S. to acquire the TCOM Processing and Auxiliary equipment necessary for the efficient and cost effective
operation of each TCOM Facility, and provide input as to the design of all aspects of the site and building(s) for the TCOM Facility
and any related Preprocessing or Processing of Waste Feedstock. All TCOM Processing and Auxiliary Equipment will be purchased by
the respective operating subsidiary with no fee or mark-up being paid to Lurvey. Further, all TCOM Processing and Auxiliary Equipment
may be purchased from any manufacturer in the world based upon specifications and design input from Technip and/or any other entity,
and reviewed by the Consultants.

 

		h.	Training Requirements: Carbon Geo-Tek Consultants Inc. and/or any successor entity, and/or Michael Lurvey will train
a minimum of two ECO staff members for each TCOM Facility, so that the to-be-developed TCOM Facilities can be efficiently and successfully
operated as if they were operated by Lurvey.

 

		i.	Technical Data Package: Carbon Geo-Tek Consultants Inc., Lurvey, and ECO (collectively referred to as “Parties")
will agree to establish a continental U.S. location to hold a technical data package and escrowed software code (“TDP”).
Assuming that there are variations that will exist between components of TCOM Systems, upgrades, etc., there should be a TDP for
each unique TCOM System for each TCOM Facility for each Location. This TDP can be used by an authorized contractor, such as but
not limited to the use of Technip, that will have the responsibility for the entire equipment installation and possibly the operations
of a given TCOM Facility to assure all Parties that a consistent, duplicable, process for construction and parts replacement specifications
accurately exists and can be utilized in case of a situation wherein either Lurvey is incapacitated, otherwise engaged so as to
be unavailable, or is deceased. The Parties will also agree to provide for inclusion in the secure escrow location, a copy of the
software

 

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source code used to operate the TCOM System, including
copies of all software upgrades, for the benefit of ECO upon the need to access, modify or duplicate the software program to operate
each specific licensed TCOM Facility. Title to the TDP and the software source code for a specific licensed or sub-licensed TCOM
Facility shall be transferred to the entity owning the specific licensed or sub-licensed TCOM Facility when the TCOM Facility is
ready for commercial production of its intended by-products.

 

		j.	ECO’s Use of Consulting Engineering Firm: ECO, a subsidiary, or an affiliate intends to utilize Technip, or such
similar entity that is providing similar services to the various operating subsidiaries of the TCOM Facilities on behalf of ECO,
for the development, operation and maintenance of their TCOM Facilities upon completion of the construction phase of any new TCOM
Facility. Carbon Geo-Tek Consultants Inc. and/or any successor entity, and/or Michael Lurvey will cooperate fully with the above
entities to facilitate the expeditious development and commencement of commercial operations for each TCOM Facility and/or Sub-Licensed
Facility.

 

		k.	ECO Waste Conversion Solutions, LLC and ECO Waste Conversion Las Vegas, LLC: ECO Waste Conversion Solutions, LLC and
ECO Waste Conversion Las Vegas are included as parties to this Agreement and are also referred to as “ECO” until replaced
by the pending establishment of the new Public Company, ECO Waste Conversion Solutions Corporation.

 

Agreed to this day August 14,
2014 by Michael J. Lurvey, individually and as CEO of:

 

	Carbon Geo-Tek Consultants Inc.	 	 
	 	 	 
	/s/ Michael J. Lurvey	 	 
	Michael J. Lurvey	 	 Witness
	as Chief Executive Officer	 	 
	 	 	 
	Michael J. Lurvey	 	 
	 	 	Witness
	 	 	 
	/s/ Michael J. Lurvey	 	 
	Michael J. Lurvey, Individually	 	 

 

ECO Waste Conversion Solutions
Corporation (a to-be-formed entity), ECO Waste Conversion Solutions, LLC, and ECO Waste Conversion Las Vegas, LLC

 

	/s/ Jess Rae Booth	 
	Jess Rae Booth, Chief Executive Officer	 

 

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