Document:

Exhibit 10.3 Consulting Agreement

Exhibit 10.3

CORPORATE OFFICER /CONSULTING

ENGAGEMENT AGREEMENT

AGREEMENT made effective this 1st day of September, 2012 by and between Rangeford Resources, Inc. (the “Company”), address: 8541 North Country Road 11, Wellington, CO 80549 and E. Robert Gates (the “Consultant”), address: 2220 Hickory Crest Dr., Memphis, Tennessee 38119.

WHEREAS, the Company desires professional guidance and advice regarding public company and energy and desires Consultant to act as a Vice President of Mergers and Acquisitions; and

WHEREAS, Consultant has expertise in the area of public companies and energy companies and extensive finance background; and is willing to act as a Consultant, and Vice President of Mergers and Acquisitions to the Company upon the terms and conditions set forth in this Agreement;

NOW, THEREFORE, in consideration of the foregoing and the mutual promises herein contained, the parties hereto agree as follows:

1.

Duties, Scope of Agreement, and Relationship of the Parties

(a)

The Company hereby agrees to retain Consultant and Vice President of Mergers and Acquisitions, and Consultant agrees to act as Vice President of Mergers and Acquisitions for the Company during the term of this Agreement. All parties understand that Consultant has many other business interests and will initially devote 20 hours per week to Vice President of Mergers and Acquisitions related duties and services under this Agreement. In addition, the company understands that consultant’s efforts on behalf of his other interests are the sole and separate property of Consultant.

(b)

The services rendered by Consultant to the company pursuant to this Agreement shall be as an independent contractor, and this Agreement does not make Consultant the employee, of the Company. The company shall not withhold for Consultant any federal or state taxes from the amounts to be paid to consultant hereunder, and Consultant agrees that he will pay all taxes due on such amounts.

(i) Consultant will be responsible for overseeing the preparation of the financial books and records of the Company and will have such authorities as would normally accrue to a Vice President of Mergers and Acquisitions, such as approving contracts, expenditures, signing checks and otherwise issuing funds, certifying to financial and other Company information, etc.  

(c)

Consultant agrees to make available to Company its services up to 20 hours per week for Vice President of Mergers and Acquisitions related services. 

2.

Compensation

(a)

Subject to vesting, as set forth on Exhibit A, the Company will issue 20,000 shares of restricted common stock as described in Exhibit A to Consultant as a retainer and Company will pay $7,000 per month beginning and payable September 1, 2012 to perform the services as VICE PRESIDENT OF MERGERS AND ACQUISITIONS.  In addition for services Consultant shall earn an additional $5,000 per month in form of shares priced at market of the common stock on last trading day of each month. Company shall issue said retainer shares within sixty (60) days from the execution of this Agreement by both parties. Consultant may elect to take such retainer common shares as Options under the same terms.  In addition, Company agrees to make Exhibit B “Initial Option Award” part of this agreement, subject to vesting, and subject to and issued under the Company Employee/ Consultant Stock Option and Award Plan.

(b)

Other forms of compensation for additional services may occur depending on the nature of a specific engagement and only upon the mutual agreement of both parties. 

(c)

Consultant shall participate during each calendar year (or part thereof) during which he is engaged as an officer or director in the Company Stock Option /Award/Incentive Plan, as adopted and amended from time to time.

3.

Expenses

The Company shall reimburse Consultant for all reasonable and necessary expenses incurred by it in carrying out its duties under this Agreement. Consultant shall submit related receipts and documentation with his request for reimbursement.

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4.

Renewal; Termination

(a)

This Agreement shall continue in effect for successive 12 month terms until terminated by the parties. Either the Company or the Consultant may terminate this Agreement by giving the other party thirty (30) days written notice prior to end of term. However, termination of Consultant by the Company shall not relieve the Company of its financial obligations to Consultant as defined herein.  Death of the Consultant and his inability to continue performing his duties under the Contract will relieve the Company of its financial obligations to Consultant as defined herein except for the payment to the Consultant’s beneficiary, legal representatives or estate, as the case may be, of any accrued compensation plus 90 days of additional compensation as used in Section 2(a) “Compensation”.

(b)

Subject to the continuing obligations of Consultant under Section 5 below, either party may terminate this Agreement at any time if the other party shall fail to fulfill any material obligation under this Agreement and shall not have cured the breach within 15 business days after having received notice thereof.

(c)

Termination or expiration of this Agreement shall not extinguish any rights of compensation that shall accrue prior to the termination.

5.

Confidential Information

(a)

“Confidential Information,” as used in this Section 5, means information that is not generally known and that is proprietary to the Company or that the Company is obligated to treat as proprietary. This information includes, without limitation:

(i)

Trade secret information about the Company and its products;

(ii)

Information concerning the Company’s business as the Company has conducted it since the Company’s incorporation or as it may conduct it in the future; and

(iii)

Information concerning any of the Company’s past, current, or possible future products, including (without limitation) information about the Company’s prospects, research, development, engineering, purchasing, manufacturing, accounting, marketing, selling, or leasing efforts. 

(b)

Any information that Consultant reasonably considers Confidential Information, or that the Company treats as Confidential Information, will be presumed to be Confidential Information (whether Consultant or others originated it and regardless of how it obtained it).

(c)

Except as required in its duties to the Company, Consultant will never, either during or after the term of this Agreement, use or disclose confidential Information to any person not authorized by the Company to receive it for a period of two (2) years after termination of this Agreement. However, information in the possession of Consultant as of the Effective Date of this Agreement, information that is public or becomes public, or information that is required to be disclosed by a bona fide legal authority is exempt from this Agreement.

(d)

If this Agreement is terminated, Consultant will promptly turn over to the Company all records and any compositions, articles, devices, apparatus and other items that disclose, describe, or embody Confidential Information, including all copies, reproductions, and specimens of the Confidential Information in its possession, regardless of who prepared them. The rights of the Company set forth in this Section 5 are in addition to any rights of the Company with respect to protection of trade secrets or confidential information arising out of the common or statutory laws of the State of Colorado or any other state or any country wherein Consultant may from time to time perform services pursuant to this Agreement. This Section 5 shall survive the termination or expiration of this Agreement.

(e)

Consultant agrees to enter into a 16(b) Plan for any sales of shares of company, subject to the Plans approval by the company in writing, during any time and 90 days thereafter, in which he would be an affiliate as defined in the Securities Exchange Act of 1934.

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6.

False or Misleading Information

The Company warrants that it will provide Consultant with accurate financial, corporate, and other data required by Consultant and necessary for full disclosure of all facts relevant to any efforts required of Consultant under this Agreement. Such information shall be furnished promptly upon request. If the Company fails to provide such information, or if any information provided by the Company to Consultant shall be false or misleading, or if the Company omits or fails to provide or withholds relevant material information to Consultant or to any professionals engaged pursuant to paragraph 5(d) above, then, in such event, any and all fees paid hereunder will be retained by Consultant as liquidated damages and this Agreement shall be null and void and Consultant shall have no further obligation hereunder. Further, by execution of this Agreement, the Company hereby indemnifies Consultant from any and all costs for expenses or damages incurred, and holds Consultant harmless from any and all claims and/or actions that may arise out of providing false or misleading information or by omitting relevant information in connection with the efforts required of Consultant under this Agreement.

7.

Consultant’s Best efforts and No Warranty of Information

Consultant shall use his best efforts to use reliable information and techniques associated with the oil and gas business. However, Consultant makes no warranty as to the completeness or interpretation of such information, nor does Consultant warrant the information with regard to errors or omissions contained therein. Any reserve estimates, price calculations, price forecasts, exploration potential predictions or similar information provided by Consultant are, or may well be, estimates only, and should not be considered predictions of actual results. 

8.

Miscellaneous

(a)

Successors and Assigns. This Agreement is binding on and ensures to the benefit of the Company. Company cannot assign this Agreement without Consultant’s written agreement.

(b)

Modification. This Agreement may be modified or amended only by a writing signed by both the Company and Consultant.

(c)

Governing Law. The laws of Colorado will govern the validity, construction, and performance of this Agreement. Any legal proceeding related to this Agreement will be brought in an appropriate Colorado court, and both the Company and Consultant hereby consent to the exclusive jurisdiction of that court for this purpose.

(d)

Construction. Wherever possible, each provision of this Agreement will be interpreted so that it is valid under the applicable law. If any provision of this Agreement is to any extent invalid under the applicable law, that provision will still be effective, to the extent it remains valid. The remainder of this Agreement also will continue to be valid, and the entire Agreement will continue to be valid in other jurisdictions.

(e)

Waivers. No failure or delay by either the Company or Consultant in exercising any right or remedy under this Agreement will waive any provision of the Agreement, nor will any single or partial exercise by either the Company or Consultant of any right or remedy under this Agreement preclude either of them from otherwise or further exercising these rights or remedies, or any other rights or remedies granted by any law or any related document.

(f)

Captions. The headings in this Agreement are for convenience only and do not affect this Agreement’s interpretation.

(g)

Entire Agreement. This Agreement supersedes all previous and contemporaneous oral negotiations, commitments, writings, and understandings between the parties concerning the matters in this Agreement.

(h)

Notices. All notices and other communications required or permitted under this Agreement shall be in writing and sent by registered first-class mail, postage prepaid, and shall be effective five days after mailing to the addresses stated below. These addresses may be changed at any time by like notice. 

In the case of the Company:

Rangeford Resources, Inc.

8541 North Country Road 11

Wellington, CO 80549

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In the case of Consultant:

E. Robert Gates

2220 Hickory Crest Dr.

Memphis, Tennessee 38119

(i)

Indemnification. Company agrees to indemnify and hold harmless Consultant from any and all claims, actions, liabilities, costs, expenses, including attorney fees arising from claims made against Consultant in connection with Company’s possession or use of advice, guidance, materials, information, data or other services provided by Consultant under this Agreement.

(j)

Conflicts of Interest. Company acknowledges that Consultant is engaged in the business of providing consulting for other companies in the oil and gas industry within North America and internationally. In the event Consultant is requested by Company to provide advice and guidance on or about issues that may create a potential conflict of interest between Consultant’s other business matters and the Company’s operations, Consultant shall not be required by Company to render advice and guidance on such an area. Company and Consultant shall use their best efforts to notify each other of any potential conflicts of interests. In any event, Consultant’s general knowledge that Company plans to engage, or is actively engaging, related to the oil and gas industry shall in no way preclude Consultant, or Consultant’s business entities, from providing services or consulting for other oil and gas companies within the same area.

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date and year first above written.

“The Company”

“Consultant”

RANGEFORD RESOURCES, INC.

E. ROBERT GATES

By:      /s/ Fred Ziegler                        

By:         /s/ E. Robert Gates                                       

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EXHIBIT A

INITIAL RETAINER AWARD

. Subject to the Vesting Requirements of the Consulting Agreement and this Exhibit, Company will grant Consultant 20,000 shares of restricted stock of Company and Options to purchase up to 20,000 shares of Company common stock.

1.

The 20,000 shares of the Company’s restricted common stock shall be issued at the closing price of the market as of the date of this Corporate Officer consulting Engagement Agreement.  

2.

The Options will be vested in Consultant and exercisable on the first anniversary of the grant date. 

3.

Options will have a term of 3 years. 

4.

Company agrees to register the Company’s shares underlying the Options on Form S-8 or such other registration form as may be available, and the company shall provide a cashless exercise procedure. 

4.

Consultant agrees to execute a lock-up agreement if any financing for the Company so requires (on terms equivalent to all other insiders,) and if the terms of such financing are acceptable to the Consultant. 

Vesting:  In the event that Consultant terminates this Agreement by giving Notice of Termination prior to January 1, 2013, the retainer shares and Options shall be deemed unvested and cancellable by Company.

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EXHIBIT B

 

INITIAL OPTIONS AWARD

 

Options. Subject to the Vesting Requirements of the Consulting Agreement, the Company Employee/Consultant Stock Option and Award Plan and this Exhibit, Company will grant Consultant Options to purchase up to 300,000 shares of Company common stock, with 100,000 at $1.00 per share and 200,000 at $3.00 per share in a form as described below.

 

1.

The Options will be vested in Consultant on the first anniversary date and exercisable from the first anniversary of the grant date. (the date hereof)

 

2.

Options will have a term of 3 years. 

 

3.

Company agrees to register the Company’s shares subject to the Options on Form S-8 or such other registration form as may be available, and the company shall provide a cashless exercise procedure. 

 

4.

 Consultant agrees to execute a lock-up agreement if any financing for the Company so requires and the terms of such financing are acceptable to the Consultant, and upon the same terms as other affiliates.

6Exhibit 10.4 Board of Directors Agreement

Exhibit 10.4

BOARD OF DIRECTORS AGREEMENT

THIS AGREEMENT is made and entered into effective as of August 9, 2012 (the “Effective Date”), by and between Rangeford Resources, Inc., a Nevada corporation (the “Company”) with its principal place of business located at 8541 North Country Road, 11, Wellington, CO 80202, and Kevin A. Carreno, an individual (“Director”) with his principal residence at 381 Belleair Drive, NE, St. Petersburg, Florida, 33704.

1.

Term

This Agreement shall continue for a period of one (1) year from the Effective Date and shall continue thereafter for as long as Director is elected as a member of the Board of Directors by the shareholders of the Company. It may be renewed for a successive one year term upon termination.

2.

Position and Responsibilities

(a)

Position. The Board of Directors hereby appoints the Director to serve as a Board Member until the next annual meeting of the Company’s shareholders or until his earlier resignation, removal or death. The Director shall perform such duties and responsibilities as are customarily related to such position in accordance with Company’s bylaws and applicable law, including, but not limited to, those services described on Exhibit A attached hereto (the “Services”).  Director hereby agrees to use his best efforts to provide the Services.  Director shall not allow any other person or entity to perform any of the Services for or instead of Director.  Director shall comply with the statutes, rules, regulations and orders of any governmental or quasi-governmental authority, which are applicable to the Company and the performance of the Services, and Company’s rules, regulations, and practices as they may from time-to-time be adopted or modified.

(b)

Other Activities. Director may be employed by another company, may serve on other Boards of Directors or Advisory Boards, and may engage in any other business activity (whether or not pursued for pecuniary advantage), as long as such outside activities do not violate Director’s obligations under this Agreement or Director’s fiduciary obligations to the Company’s shareholders. The ownership of less than a 5% interest in an entity, by itself, shall not constitute a violation of this duty. Director represents that Director has no outstanding agreement or obligation that is in conflict with any of the provisions of this Agreement, and Director agrees to use his best efforts to avoid or minimize any such conflict and agrees not to enter into any agreement or obligation that could create such a conflict without the approval of a majority of the Board of Directors. If, at any time, Director is required to make any disclosure or take any action that may conflict with any of the provisions of this Agreement, Director will promptly notify the Board of such obligation, prior to making such disclosure or taking such action.

(c)

No Conflict. Director will not engage in any activity that creates an actual or perceived conflict of interest with Company, regardless of whether such activity is prohibited by Company’s conflict of interest guidelines or this Agreement, and Director agrees to notify the Board of Directors before engaging in any activity that could reasonably be assumed to create a potential conflict of interest with Company. Notwithstanding the provisions of Section 2(b) hereof, Director shall not engage in any activity that is in direct competition with the Company or serve in any capacity (including, but not limited to, as an employee, consultant, advisor or director) in any company or entity that competes directly or indirectly with the Company, as reasonably determined by a majority of Company’s disinterested board members, without the approval of the Board of Directors.

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3.

Compensation and Benefits

(a)

Director’s Fee. In consideration of the services to be rendered under this Agreement, Company shall pay Director an annual fee at the rate of $24,000.00, which shall be paid in accordance with Company’s regularly established practices regarding the payment of Directors’ fees, or in increments of $2,000.00 per month, but in no event later than 12 months after the Effective Date of this Agreement and each of its subsequent anniversaries, if any.

(b)

Stock and Stock Options. Subject to vesting, as set forth on Exhibit B, the Company will issue to Director options as set forth and described on Exhibit B.  Company shall issue said options within sixty (60) days from the execution of this Agreement by both parties.  In addition, Company the provisions of Exhibit B “Initial Option Award”, are incorporated in and made a part of this agreement., subject to the vesting, and and other provisions of the Company’s  2012 Stock Incentive Plan.

(c)

Expenses. The Company shall reimburse Director for all reasonable business expenses incurred in the performance of the Services in accordance with Company’s expense reimbursement guidelines.

(d)

Indemnification. Company will indemnify and defend Director against any liability incurred in the performance of the Services to the fullest extent authorized in Company’s Articles of Incorporation, as amended, bylaws, as amended and applicable law. Company will purchase Director’s and Officer’s liability insurance when a policy is purchased by the Company and Director shall be entitled to the protection of any insurance policies the Company maintains for the benefit of its Directors and Officers against all costs, charges and expenses in connection with any action, suit or proceeding to which he may be made a party by reason of his affiliation with Company, its subsidiaries, or affiliates.

(e)

Records. So long as the Director shall serve as a member of the Company’s Board of Directors the Director shall have full access to books and records of Company and access to management of the Company.

4.

Termination

(a)

Right to Terminate. At any time, Director may be removed as Board Member as provided in Company’s Articles of Incorporation, as amended, bylaws, as amended, and applicable law. Director may resign as Board Member or Director as provided in Company’s Articles of Incorporation, as amended, bylaws, as amended, and applicable law. Notwithstanding anything to the contrary contained in or arising from this Agreement or any statements, policies, or practices of Company, neither Director nor Company shall be required to provide any advance notice or any reason or cause for termination of Director’s status as Board Member, except as provided in Company’s Articles of Incorporation, as amended, Company’s bylaws, as amended, and applicable law. 

(b)

Effect of Termination as Director. Upon Director’s termination this Agreement will terminate; Company shall pay to Director all compensation and expenses to which Director is entitled up through the date of termination; and Director shall be entitled to his rights under any other applicable law. Thereafter, all of Company’s obligations under this Agreement shall cease.

5.

Termination Obligations

(a)

Director agrees that all property, including, without limitation, all equipment, tangible proprietary information, documents, records, notes, contracts, and computer-generated materials provided to or prepared by Director incident to the Services and his membership on the Company’s Board of Directors or any committee therefore the sole and exclusive property of the Company and shall be promptly returned to the Company at such time as the Director is no longer a member of the Company’s Board of Directors.

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(b)

Upon termination of this Agreement, Director shall be deemed to have resigned from all offices then held with Company by virtue of his position as Board Member. Director agrees that following any termination of this Agreement, he shall cooperate with Company in the winding up or transferring to other directors of any pending work and shall also cooperate with Company (to the extent allowed by law, and at Company’s expense) in the defense of any action brought by any third party against Company that relates to the Services.

6.

Nondisclosure Obligations 

Director shall maintain in confidence and shall not, directly or indirectly, disclose or use, either during or after the term of this Agreement, any Proprietary Information (as defined below), confidential information, or trade secrets belonging to Company, whether or not it is in written or permanent form, except to the extent necessary to perform the Services, as required by a lawful government order or subpoena, or as authorized in writing by Company. These nondisclosure obligations also apply to Proprietary Information belonging to customers and suppliers of Company, and other third parties, learned by Director as a result of performing the Services. “Proprietary Information” means all information pertaining in any manner to the business of Company, unless (i) the information is or becomes publicly known through lawful means; (ii) the information was part of Director’s general knowledge prior to his relationship with Company; or (iii) the information is disclosed to Director without restriction by a third party who rightfully possesses the information and did not learn of it from Company.

7.

Dispute Resolution

(a)

Jurisdiction and Venue. The parties agree that any suit, action, or proceeding between Director  and Company (and its affiliates, shareholders, directors, officers, employees, members, agents, successors, attorneys, and assigns) relating to this Agreement shall be brought in either the United States District Court for the State of Texas or in a Texas state court and that the parties shall submit to the jurisdiction of such court. The parties irrevocably waive, to the fullest extent permitted by law, any objection the party may have to the laying of venue for any such suit, action or proceeding brought in such court. If any one or more provisions of this Section shall for any reason be held invalid or unenforceable, it is the specific intent of the parties that such provisions shall be modified to the minimum extent necessary to make it or its application valid and enforceable.

(b)

Attorneys’ Fees. Should any litigation, arbitration or other proceeding be commenced between the parties concerning the rights or obligations of the parties under this Agreement, the party prevailing in such proceeding shall be entitled, in addition to such other relief as may be granted, to a reasonable sum as and for its attorneys’ fees in such proceeding. This amount shall be determined by the court in such proceeding or in a separate action brought for that purpose. In addition to any amount received as attorneys’ fees, the prevailing party also shall be entitled to receive from the party held to be liable, an amount equal to the attorneys’ fees and costs incurred in enforcing any judgment against such party. This Section is severable from the other provisions of this Agreement and survives any judgment and is not deemed merged into any judgment.

8.

Entire Agreement

This Agreement constitutes the entire understanding between the parties hereto superseding all prior and contemporaneous agreements or understandings among the parties hereto concerning the Agreement.

9.

Amendments; Waivers 

This Agreement may be amended, modified, superseded or canceled, and any of the terms, covenants, representations, warranties or conditions hereof may be waived, only by a written instrument executed by the parties or, in the case of a waiver, by the party to be charged.  Any amendment or waiver by the Company must be approved by the Company’s Board of Directors and executed on behalf of the Company by its Chief Executive Officer.  If the Director shall also serve as Chief Executive Officer, such amendment or waiver must be executed on behalf of the Company by an officer designed by the Company’s Board of Directors.

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10.

Assignment 

This Agreement shall not be assignable by either party.

11.

Severability

If any provision of this Agreement shall be held by a court to be invalid, unenforceable, or void, such provision shall be enforced to fullest extent permitted by law, and the remainder of this Agreement shall remain in full force and effect. In the event that the time period or scope of any provision is declared by a court of competent jurisdiction to exceed the maximum time period or scope that such court deems enforceable, then such court shall reduce the time period or scope to the maximum time period or scope permitted by law. 

12.

Governing Law 

This Agreement shall be governed by and construed in accordance with the laws of the State of Nevada.

13.

Interpretation

This Agreement shall be construed as a whole, according to its fair meaning, and not in favor of or against any party. Captions are used for reference purposes only and should be ignored in the interpretation of the Agreement.

14.

Binding Agreement

Each party represents and warrants to the other that the person(s) signing this Agreement below has authority to bind the party to this Agreement and that this Agreement will legally bind both Company and Director. To the extent that the practices, policies, or procedures of Company, now or in the future, are inconsistent with the terms of this Agreement, the provisions of this Agreement shall control. Any subsequent change in Director’s duties or compensation as Board Member will not affect the validity or scope of the remainder of this Agreement.

15.

Director Acknowledgment 

Director acknowledges Director has had the opportunity to consult legal counsel concerning this Agreement, that Director has read and understands the Agreement, that Director is fully aware of its legal effect, and that Director has entered into it freely based on his own judgment and not on any representations or promises other than those contained in this Agreement.

16.

Counterparts

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

17.

Date of Agreement

The parties have duly executed this Agreement as of the date first written above.

					
	 
	RANGEFORD RESOURCES, INC.

	 
	 
	KEVIN A. CARRENO

	 
	a Nevada Corporation

	 
	 
	Individual

	 
	 
	 
	 
	 

	 
	/s/ Frederick Ziegler

	 
	 
	/s/ Kevin A. Carreno

	Name

	Frederick Ziegler

	 
	Name

	Kevin A. Carreno

	Title

	President

	 
	Title

	Director

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EXHIBIT A

DESCRIPTION OF SERVICES

Responsibilities as Director. Director shall have all responsibilities of a Director of the Company imposed by Nevada or applicable law, the Articles of Incorporation, as amended, and Bylaws, as amended, of Company. These responsibilities shall include, but shall not be limited to, the following:

1.

Attendance. Use best efforts to attend scheduled meetings of Company’s Board of Directors;

2.

Act as a Fiduciary. Represent the shareholders and the interests of Company as a fiduciary; and 

3.

Participation. Participate as a full voting member of Company’s Board of Directors in setting overall objectives, approving plans and programs of operation, formulating general policies, offering advice and counsel, serving on Board Committees, and reviewing management performance.

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EXHIBIT B

STOCK OPTIONS AND VESTING

Options. Subject to the Vesting Requirements of the Company’s 2012 Stock Incentive Plan and this Agreement, Company will grant Director Options to purchase up to 300,000 shares of Company’s common stock, with 100,000 at an exercise price of $1.00 per share and 200,000 at an exercise price of $3 per share in a form as described below.

1.

The Options will be vested in Director at a rate of 25% per quarter, starting on the November 1, 2012 and quarterly thereafter.  The options areexercisable from the first anniversary of the grant date (the Effective Date of the Board of Directors Agreement).

2.

Options will expire 3 years from the date of issue.. 

3.

Company agrees to register the Company’s shares subject to the Option Grant on Form S-8 or such other registration form as may be available, and the Company shall provide a cashless exercise procedure. 

4.

Director agrees to execute a lock-up agreement if any financing for the Company so requires and the terms of such financing are acceptable to the Director, and upon the same terms as other affiliates.

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