Document:

Unassociated Document

    

      Exhibit
        10.2

       

       

      INYX,
        INC.

      N0N-QUALIFIED
        STOCK OPTION AGREEMENT

       

      pursuant
        to the

       

      INYX,
        INC. 2005 EQUITY INCENTIVE PLAN

       

      THIS
        NON-QUALIFIED STOCK OPTION AGREEMENT
        (this
“Agreement”)
        is
        made and entered into by and between INYX, INC., a Nevada corporation (the
        “Company”),
        and
        ___________ (the “Optionee”),
        effective as of _______, 200_ (the “Date
        of Grant”).

       

      1.  Grant
        of Option.
        The
        Company hereby grants to the Optionee and the Optionee hereby accepts, subject
        to the terms and conditions hereof, a Non-Qualified Stock Option (the
“Option”)
        to
        purchase up to ______ shares of Company’s Common Stock, par value $0.001 per
        share (the “Common
        Stock”),
        at
        the Exercise Price per share set forth in Section
        4
        below.

       

      2.  Governing
        Plan.
        This
        Option is granted pursuant to the Company’s 2005 Equity Incentive Plan (the
“Plan”),
        a
        copy of which is attached hereto as Attachment One and incorporated herein
        for
        all purposes. Capitalized terms used but not otherwise defined herein have
        the
        meanings as set forth in the Plan. The Optionee agrees to be bound by the
        terms
        and conditions of the Plan, which terms and conditions of the Plan control
        in
        case of any conflict with this Agreement, except as otherwise specifically
        provided for in the Plan.

       

      3.  Expiration
        of the Option.
        The
        Option (to the extent not earlier exercised or terminated in accordance with
        the
        Plan) will expire at the end of business on _________, 201_, which date is
        not
        in excess of ten (10) years from the date of grant (the “Date
        of Grant”)
        of the
        Option. The Option may terminate sooner under certain circumstances, including
        termination of the Optionee’s employment with the Company and/or any Affiliated
        Entity, as set forth in the Plan. The Option may not be exercised after its
        expiration or termination.

       

      4.  Exercise
        Price.
        The
“Exercise Price” of the Option is _____________ per share of Common Stock. The
        Exercise Price is subject to adjustment or amendment as set forth in the
        Plan.

       

      5.  Vesting.
        On each
        Measurement Date set forth in Column 1 below, the Option shall vest and become
        exercisable for the corresponding number of shares of Common Stock set forth
        in
        Column 2 below if the Optionee’s employment with the Company and/or any
        Affiliated Entity has not terminated. The “Vested
        Portion”
        of the
        Option as of any particular date shall be the cumulative total of all shares
        for
        which the Option has become exercisable as of that date. 

       

      
        	
                Column
                  1

                 

                Measurement
                  Date

              	
                Column
                  2

                 

                Vested
                  Portion of the Option

              
	 	 
	 	 
	 	 
	 	 

      

      

      6.  Exercise
        of the Option.
        The
        Vested Portion (as herein defined) of the Option may be exercised, to the
        extent
        not previously exercised, in whole or in part, at any time or from time to
        time
        prior to the expiration or termination of the Option. Exercise shall be
        accomplished by providing the Company with written notice in the form of
        Exhibit A
        hereto,
        which notice shall be irrevocable when delivered and effective upon payment
        in
        full of the exercise price in accordance with Section 6.(a)(i)
        of
        the
        Plan and any amounts required in for withholding taxes, and the satisfaction
        of
        all other conditions to exercise imposed under the Plan.

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

         

      

      7.  Nontransferability
        of Option.
        The
        Option shall not be transferable or assignable by the Optionee, other than
        by
        will or the laws of descent and distribution, and shall be exercisable during
        the Optionee’s lifetime only by the Optionee.

       

      8.  Administration.
        The
        Plan and this Agreement shall be administered and may be definitively
        interpreted by a committee of the Board, and the Optionee agrees that the
        decisions of the Board concerning administration and interpretation of the
        Plan
        and this Agreement shall be final, binding and conclusive on all
        persons.

       

      9.  Notices.
        All
        notices or other communications which are required or permitted hereunder
        or in
        the Plan shall be in writing and sufficient if (i) personally delivered,
        (ii)
        sent by nationally recognized overnight courier or (iii) sent by registered
        or
        certified mail, postage prepaid, return receipt requested, addressed as follows:
        (a) if to Optionee, at the address set forth on the signature page below;
        or (b)
        if to the Company, at the address set forth in the signature page hereto,
        or in
        either case, to such other address as the party to whom notice is to be given
        may have furnished to the other party in writing in accordance herewith.
        Any
        such communication shall be deemed to have been given (i) when delivered,
        if
        personally delivered, (ii) on the first Business Day (as hereinafter defined)
        after dispatch, if sent by nationally recognized overnight courier and (iii)
        on
        the third Business Day following the date on which the piece of mail containing
        such communication is posted, if sent by mail. As used herein, “Business Day”
        means a day that is not a Saturday, Sunday or a day on which banking
        institutions in the city to which the notice or communication is to be sent
        are
        not required to be open.

       

      10.  Counterparts.
        This
        Agreement may be executed in one or more counterparts, each of which shall
        be
        deemed to be an original, but all of which together shall constitute one
        and the
        same instrument.

       

      11.  Non-Qualified
        Option.
        This
        Agreement is not intended to grant an Option which meets the requirements
        of
        incentive stock options, as defined in Section 422A of the Internal Revenue
        Code, and is only intended to be a “non-qualified” stock
        option.

      
        
          
          

        

        
          2

          
            

          

        

        
          
          

        

      

      IN
        WITNESS WHEREOF,
        this
        Agreement has been executed on behalf of the Company by its duly authorized
        officer, and by the Optionee in acceptance of the above-mentioned Option,
        subject to the terms and conditions of the Plan and of this Agreement, all
        as of
        the day and year first above written.

       

      COMPANY:

      

      INYX,
        INC.,
        a
        Nevada corporation

      

      

      By:
        _____________________________________________

      Name:
        ___________________________________________

      Title:
        ____________________________________________

      

      Address:  825
        Third
        Avenue, 40th
        Floor

      New
        York,
        New York 10022

      

      OPTIONEE:

      

      ________________________________________________

      Printed
        Name:

      

      Address:  
        ________________________________________

      ________________________________________

      ________________________________________

      

      Telephone
        No.: _____________________________________

       

       

      
        
          
          

        

        
          3

          
            

          

        

        
          
          

          
          

        

      

      EXHIBIT
        A

       

      NOTICE
        OF EXERCISE

      under

      INCENTIVE
        STOCK OPTION AGREEMENT

      issued
        pursuant to the

      INYX,
        INC. 2005 EQUITY INCENTIVE PLAN

       

      To: Inyx,
        Inc. (the “Company”)

       

      From:
        ________________________________________

       

      Date:
        ________________________________________

       

      Pursuant
        to the Inyx, Inc. 2005 Equity Incentive Plan (the “Plan”)
        and
        the Incentive Stock Option Agreement (the “Agreement”) (capitalized terms used
        without definition herein have the meanings given such terms in the Agreement
        or
        the Plan) between the Company and myself effective ______________________,
        20___, I hereby exercise my Option as follows:

       

      
        	
                Number
                  of shares of Common Stock I wish to purchase under the Option
                  

              	 
	
                Exercise
                  Price per Share

              	
                $

              
	
                Total
                  Exercise Price

              	
                $

              
	
                “Vested
                  Portion” of Option (see definition in Section 5 of the
                  Agreement)

              	 
	
                Number
                  of shares I have previously purchased by exercising the
                  Option

              	 
	
                Expiration
                  Date of the Option

              	 

      

      

       

      I
        hereby
        represent, warrant, and covenant to the Company that:

       

      (a)  I
        am
        acquiring the Common Stock for my own account, for investment, and not for
        distribution or resale, and I will make no transfer of such Common Stock
        except
        in compliance with applicable federal and state securities laws and in
        accordance with the provisions of the Plan and the Agreement.

       

      (b)  I
        can
        bear the economic risk of the investment in the Common Stock resulting from
        this
        exercise of the Option, including a total loss of my investment.

       

      (c)  I
        am
        experienced in business and financial matters and am capable of (i) evaluating
        the merits and risks of an investment in the Common Stock; (ii) making an
        informed investment decision regarding exercise of the Option; and (iii)
        protecting my interests in connection therewith.

       

      (d)  Any
        subsequent offer for sale or distribution of any of the shares of Common
        Stock
        shall be made only pursuant to (i) a registration statement on an appropriate
        form under the Securities Act of 1933, as amended (the “Securities
        Act”),
        which
        registration statement has become effective and is current with regard to
        the
        shares being offered or sold, or (ii) a specific exemption from the registration
        requirements of the Securities Act it being understood that to the extent
        any
        such exemption is claimed, I shall, prior to any offer for sale or sale of
        such
        shares, obtain a prior favorable written opinion, in form and substance
        satisfactory to the Board of Directors, from counsel for or approved by the
        Board of Directors as to the applicability of such exemption
        thereto.

       

      
        
          
          

        

        
          4

          
            

          

        

        
          
          

        

      

      Attached
        in full payment of the Exercise Price for the Option exercised herein is
        (a) a
        check made payable to the Company in the amount of $____________ and/or (b)
        a
        stock certificate for ____________ shares of Common Stock that have been
        owned
        by me or by me and my spouse jointly for at least six months, with a duly
        completed stock power attached, with a total Fair Market Value on the date
        hereof to the Total Exercise Price.

       

      OPTIONEE:

      

      _______________________________________________

      Name: 

      

      Address:
        ________________________________________

       ________________________________________

       ________________________________________

      

      RECEIVED
        BY THE COMPANY:

      

      INYX,
        INC.,
        a
        Nevada corporation

      

      

      By:  __________________________________________

      Name:  ________________________________________

      Title:  _________________________________________

      

      Address:  825
        Third
        Avenue, 40th
        Floor

      New
        York,
        New York 10022

      

      Date:  ________________________________________

       

       

      
        
          
          

        

        
          5Unassociated Document

    

      Exhibit
        10.3

       

      

       

      INYX,
        INC.

      INCENTIVE
        STOCK OPTION AGREEMENT

       

      pursuant
        to the

       

       INYX,
        INC. 2005 EQUITY INCENTIVE PLAN

       

      THIS
        INCENTIVE STOCK OPTION AGREEMENT
        (this
“Agreement”)
        is
        made and entered into by and between INYX, INC., a Nevada corporation (the
        “Company”),
        and
        ___________ (the “Optionee”),
        effective as of _________, 200_ (the “Date
        of Grant”).

       

      1.  Grant
        of Option.
        The
        Company hereby grants to the Optionee and the Optionee hereby accepts, subject
        to the terms and conditions hereof, an Incentive Stock Option (the “Option”)
        to
        purchase up to ______ shares of Company’s Common Stock, par value $0.001 per
        share (the “Common
        Stock”),
        at
        the Exercise Price per share set forth in Section
        4
        below.

       

      2.  Governing
        Plan.
        This
        Option is granted pursuant to the Company’s 2005 Equity Incentive Plan (the
“Plan”),
        a
        copy of which is attached hereto as Attachment One and incorporated herein
        for
        all purposes. Capitalized terms used but not otherwise defined herein have
        the
        meanings as set forth in the Plan. The Optionee agrees to be bound by the
        terms
        and conditions of the Plan, which terms and conditions of the Plan control
        in
        case of any conflict with this Agreement, except as otherwise specifically
        provided for in the Plan.

       

      3.  Expiration
        of the Option.
        The
        Option (to the extent not earlier exercised or terminated in accordance with
        the
        Plan) will expire at the end of business on _________, 201_, which date is
        not
        in excess of ten (10) years from the date of grant (the “Date
        of Grant”)
        of the
        Option. The Option may terminate sooner under certain circumstances, including
        termination of the Optionee’s employment with the Company and/or any Affiliated
        Entity, as set forth in the Plan. The Option may not be exercised after its
        expiration or termination.

       

      4.  Exercise
        Price.
        The
“Exercise Price” of the Option is _____________ per share of Common Stock. The
        Exercise Price is subject to adjustment or amendment as set forth in the
        Plan.

       

      5.  Vesting.
        On each
        Measurement Date set forth in Column 1 below, the Option shall vest and become
        exercisable for the corresponding number of shares of Common Stock set forth
        in
        Column 2 below if the Optionee’s employment with the Company and/or any
        Affiliated Entity has not terminated. The “Vested
        Portion”
        of the
        Option as of any particular date shall be the cumulative total of all shares
        for
        which the Option has become exercisable as of that date. 

       

      
        	
                Column
                  1

                 

                Measurement
                  Date

              	
                Column
                  2

                 

                Vested
                  Portion of the Option

              
	 	 
	 	 
	 	 
	 	 

      

      

      6.  Exercise
        of the Option.
        The
        Vested Portion (as herein defined) of the Option may be exercised, to the
        extent
        not previously exercised, in whole or in part, at any time or from time to
        time
        prior to the expiration or termination of the Option. Exercise shall be
        accomplished by providing the Company with written notice in the form of
        Exhibit A
        hereto,
        which notice shall be irrevocable when delivered and effective upon payment
        in
        full of the exercise price in accordance with Section 6.(a)(i)
        of
        the
        Plan and any amounts required in for withholding taxes, and the satisfaction
        of
        all other conditions to exercise imposed under the Plan.

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

         

      

      7.  Nontransferability
        of Option.
        The
        Option shall not be transferable or assignable by the Optionee, other than
        by
        will or the laws of descent and distribution, and shall be exercisable during
        the Optionee’s lifetime only by the Optionee.

       

      8.  Administration.
        The
        Plan and this Agreement shall be administered and may be definitively
        interpreted by a committee of the Board, and the Optionee agrees that the
        decisions of the Board concerning administration and interpretation of the
        Plan
        and this Agreement shall be final, binding and conclusive on all
        persons.

       

      9.  Notices.
        All
        notices or other communications which are required or permitted hereunder
        or in
        the Plan shall be in writing and sufficient if (i) personally delivered,
        (ii)
        sent by nationally recognized overnight courier or (iii) sent by registered
        or
        certified mail, postage prepaid, return receipt requested, addressed as follows:
        (a) if to Optionee, at the address set forth on the signature page below;
        or (b)
        if to the Company, at the address set forth in the signature page hereto,
        or in
        either case, to such other address as the party to whom notice is to be given
        may have furnished to the other party in writing in accordance herewith.
        Any
        such communication shall be deemed to have been given (i) when delivered,
        if
        personally delivered, (ii) on the first Business Day (as hereinafter defined)
        after dispatch, if sent by nationally recognized overnight courier and (iii)
        on
        the third Business Day following the date on which the piece of mail containing
        such communication is posted, if sent by mail. As used herein, “Business Day”
        means a day that is not a Saturday, Sunday or a day on which banking
        institutions in the city to which the notice or communication is to be sent
        are
        not required to be open.

       

      10.  Counterparts.
        This
        Agreement may be executed in one or more counterparts, each of which shall
        be
        deemed to be an original, but all of which together shall constitute one
        and the
        same instrument.

       

      11.  Incentive
        Option.
        This
        Agreement is intended to grant an Option which meets all of the requirements
        of
        incentive stock options, as defined in Section 422A of the Internal Revenue
        Code. Subject to and upon the terms, conditions and provisions of the Plan,
        each
        and every provision of this Agreement shall be administered, construed and
        interpreted so that the Option granted herein shall so qualify as an incentive
        stock option. Each provision of this Agreement which would prevent this Option
        from qualifying as an incentive stock option, if any, shall be
        void.

       

      12.  Notice
        of Sale of Shares.
        Optionee agrees to notify the Company immediately upon any sale or transfer
        of
        any shares of Common Stock received upon exercise of this Option, to the
        extent
        such sale or transfer takes place prior to the later of (a) two years from
        the
        Date of Grant or (b) one year from the date oaf exercise of this
        Option.

      
        
          
          

        

        
          2

          
            

          

        

        
          
          

        

      

      IN
        WITNESS WHEREOF,
        this
        Agreement has been executed on behalf of the Company by its duly authorized
        officer, and by the Optionee in acceptance of the above-mentioned Option,
        subject to the terms and conditions of the Plan and of this Agreement, all
        as of
        the day and year first above written.

       

      COMPANY:

      

      INYX,
        INC.,
        a
        Nevada corporation

      

      

      By:
        ___________________________________________

      Name:
        _________________________________________

      Title:
        __________________________________________

      

      Address:  825
        Third
        Avenue, 40th
        Floor

      New
        York,
        New York 10022

      

      OPTIONEE:

      

      ______________________________________________

      Printed
        Name: 

      

      Address:
        _______________________________________

       _______________________________________

       _______________________________________

       

      Telephone
        No.: __________________________________

      
 

      
        
          
          

        

        
          3

          
            

          

        

        
          
          

        

      

       

      EXHIBIT
        A

       

      NOTICE
        OF EXERCISE

      under

      INCENTIVE
        STOCK OPTION AGREEMENT

      issued
        pursuant to the

      INYX,
        INC. 2005 EQUITY INCENTIVE PLAN

       

      To: Inyx,
        Inc. (the “Company”)

       

      From:
        _______________________________________

       

      Date:
        _______________________________________

       

      Pursuant
        to the Inyx, Inc. 2005 Equity Incentive Plan (the “Plan”)
        and
        the Incentive Stock Option Agreement (the “Agreement”) (capitalized terms used
        without definition herein have the meanings given such terms in the Agreement
        or
        the Plan) between the Company and myself effective ______________________,
        20___, I hereby exercise my Option as follows:

       

      
        	
                Number
                  of shares of Common Stock I wish to purchase under the Option
                  

              	 
	
                Exercise
                  Price per Share

              	
                $

              
	
                Total
                  Exercise Price

              	
                $

              
	
                “Vested
                  Portion” of Option (see definition in Section 5 of the
                  Agreement)

              	 
	
                Number
                  of shares I have previously purchased by exercising the
                  Option

              	 
	
                Expiration
                  Date of the Option

              	 

      

      

       

      I
        hereby
        represent, warrant, and covenant to the Company that:

       

      (a)  I
        am
        acquiring the Common Stock for my own account, for investment, and not for
        distribution or resale, and I will make no transfer of such Common Stock
        except
        in compliance with applicable federal and state securities laws and in
        accordance with the provisions of the Plan and the Agreement.

       

      (b)  I
        can
        bear the economic risk of the investment in the Common Stock resulting from
        this
        exercise of the Option, including a total loss of my investment.

       

      (c)  I
        am
        experienced in business and financial matters and am capable of (i) evaluating
        the merits and risks of an investment in the Common Stock; (ii) making an
        informed investment decision regarding exercise of the Option; and (iii)
        protecting my interests in connection therewith.

       

      (d)  Any
        subsequent offer for sale or distribution of any of the shares of Common
        Stock
        shall be made only pursuant to (i) a registration statement on an appropriate
        form under the Securities Act of 1933, as amended (the “Securities
        Act”),
        which
        registration statement has become effective and is current with regard to
        the
        shares being offered or sold, or (ii) a specific exemption from the registration
        requirements of the Securities Act it being understood that to the extent
        any
        such exemption is claimed, I shall, prior to any offer for sale or sale of
        such
        shares, obtain a prior favorable written opinion, in form and substance
        satisfactory to the Board of Directors, from counsel for or approved by the
        Board of Directors as to the applicability of such exemption
        thereto.

      
        
          
          

        

        
          4

          
            

          

        

        
          
          

        

      

      Attached
        in full payment of the Exercise Price for the Option exercised herein is
        (a) a
        check made payable to the Company in the amount of $____________ and/or (b)
        a
        stock certificate for ____________ shares of Common Stock that have been
        owned
        by me or by me and my spouse jointly for at least six months, with a duly
        completed stock power attached, with a total Fair Market Value on the date
        hereof to the Total Exercise Price.

       

      OPTIONEE:

      

      ______________________________________________

      Name:

      

      Address:
        _______________________________________

       _______________________________________

       _______________________________________

      

      RECEIVED
        BY THE COMPANY:

      

      INYX,
        INC.,
        a
        Nevada corporation

      

      

      By:
        ___________________________________________

      Name:
        _________________________________________

      Title:
        __________________________________________

      

      Address:  825
        Third
        Avenue, 40th
        Floor

      New
        York,
        New York 10022

      

      Date:
        __________________________________________

       

       

      
        
          
          

        

        
          5

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