Document:

Aircraft Loan and Security Agreement and related promissory note

 Exhibit 10.1 
 LOAN AND SECURITY AGREEMENT 
 (aircraft) 
 Loan Number: 1000130807 
 This Agreement is dated as of April 25, 2007 and is
executed by and between CHASE EQUIPMENT LEASING INC. (“Lender”), with Lender’s principal office located at 1111 Polaris Parkway, Suite A3 (OH1-1085), Columbus, Ohio 43240 and the borrower identified below (“Borrower”):

 Borrower Name:              ABX Air, Inc. 
 Borrower Address:         145 Hunter Drive, Wilmington, Ohio 45177 
 1. GRANT OF SECURITY INTEREST. Borrower grants, pledges and assigns to Lender a security interest in all of Borrower’s respective right,
title and interest in and to the property described on the attached Schedule A-1, now or hereafter arising or acquired, wherever located, together with any and all additions, accessions, parts, accessories, substitutions and
replacements thereof, now or hereafter installed in, affixed to or used in connection with said property (the “Equipment”), in all proceeds thereof, cash and non-cash, including, but not limited to, proceeds of notes, checks, instruments,
indemnity proceeds, or any insurance on such and any refund or rebate of premiums on such (“Collateral”), and agrees that the foregoing grant creates in favor of Lender an International Interest in the Equipment. This Agreement secures the
prompt payment and complete performance in full when due, whether at the stated maturity, by acceleration or otherwise, of all payment and other obligations of Borrower under or in connection with this Agreement, the Business Purpose Promissory Note
executed in connection with the Loan Number referenced above with Borrower as the maker (the “Note”), and any and all renewals, extensions or substitutions for any such instrument (including principal, interest, late charges, collection
costs, attorney fees and the like) (collectively, the “Obligations”). Borrower represents, warrants and covenants that while any Obligations are outstanding (i) Borrower is and will continue to be (or, with respect to after acquired
property, will be when acquired) the legal and beneficial owner of the Collateral free and clear of any Lien except for the security interest created by this Agreement,; (ii) no effective Uniform Commercial Code (“UCC”) financing
statement or other instrument providing notice of a security interest in all or any part of the Collateral is on file in any recording office, except those in favor of Lender; (iii) no International Interest (other than that of Lender) is
registered with the International Registry with respect to the Collateral, that Borrower shall not consent to any International Interest with respect to the Equipment (other than any such interest in favor of Lender), and (iv) Borrower has not
executed or delivered an Irrevocable De-Registration and Export Request Authorization (“IDERA”) to any party other than Lender. At its sole expense, Borrower shall protect and defend Lender’s first priority security interest in the
Collateral against all claims and demands whatsoever. 
 2. MAINTENANCE; USE AND OPERATION; LOCATION. 
 2.1 At its sole expense, Borrower shall: (a) repair and maintain the Equipment in good condition and working order and supply and install all
replacement parts or other devices when required to so maintain the Equipment or when required by applicable law or regulation, which parts or devices shall automatically become part of the Equipment; (b) use and operate the Equipment in a
careful manner in the normal course of its business and only for the purposes for which it was designed in accordance with the manufacturer’s warranty requirements, and comply with all laws and regulations relating to the Equipment, and obtain
all permits or licenses necessary to install, use or operate the Equipment; (c) make no alterations, additions, subtractions, upgrades or improvements to the Equipment with a cost in excess of $150,000.00 without Lender’s prior written
consent (which consent will not be unreasonably withheld); provided, further, notwithstanding the foregoing, Lender’s prior written consent shall not be required for any alteration, addition, subtraction, upgrade or improvement to the Equipment
of any cost that relate to maintenance, Service Bulletins and Airworthiness Directives, but any such alterations, additions, upgrades or improvements shall automatically become part of the Equipment; (d) maintain, inspect, service and repair,
overhaul and test the Equipment in accordance with the FAA approved maintenance program, manufacturer’s approved maintenance program, FAA airworthiness directives, and the manufacturer’s alert bulletins and urgently recommended service
bulletins and procedures, and perform all duties and tasks which would be required to maintain the Equipment, including the engines, in full compliance with the manufacturer’s specification (i) so as to keep the Equipment in as good
operating condition as when delivered to the Borrower hereunder, ordinary wear and tear excepted, and (ii) so as to keep the Equipment in such operating condition as may be necessary to enable the airworthiness certification of such Equipment
to be maintained in good standing at all times under the Act (as defined in Section 19 hereof); and (e) maintain all records, logs and other materials required by the FAA to be maintained in respect of the Equipment. Lender has the right
upon reasonable notice to Borrower to inspect the Equipment wherever located. Notwithstanding anything to the contrary contained herein, Borrower may remove an Engine from the Airframe and install an Engine on another airframe owned or leased by
Borrower provided that: (i) the Engine does not become subject to any Lien (other than Lender’s security interest) or claim of ownership; and (ii) Borrower installs a Replacement Engine on the Airframe. “Airframe” means the
airframe described on the Schedule A-1 attached hereto. “Engine” shall mean any one of the engines described on the Schedule A-1 attached hereto. “Replacement Engine” shall mean an engine of the same make and model (or an
improved model engine) as the Engine. The Equipment will be maintained and inspected under Part 145 or Part 121of the Federal Aviation Regulations. 
  

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 2.2 The Equipment will not be operated, used or located outside of the United States of America
(“USA”) by Borrower or any other party; provided, that Borrower may use, operate and locate the Equipment outside the USA (any country or jurisdiction other than the USA hereinafter called a “Foreign Jurisdiction”) so long as all
of the following conditions are satisfied: (a) the USA maintains full diplomatic relations with such Foreign Jurisdiction; (b) any notices, statements, documents and instruments necessary or required to be filed in any such Foreign
Jurisdiction for the operation, use or location of the Equipment therein shall have been filed in accordance with applicable law and regulation and Borrower shall provide file stamped copies to Lender upon Lender’s request from time to time;
(c) the Equipment shall remain insured in accordance with the terms of this Agreement at all times and shall be insured in accordance with the laws and regulations of each Foreign Jurisdiction in or over which the Equipment will be operated;
(d) the Equipment will not be registered under the laws of any Foreign Jurisdiction and shall remain registered under the Act at all times; and (e) the Equipment shall not be used, operated or located in any Foreign Jurisdiction if at the
time of such use, operation or location (i) the insurance covering the Equipment would not permit the use, operation or location of the Equipment in such Foreign Jurisdiction or such use, operation or location would otherwise void, result in
the cancellation of, limit or diminish the coverage provided by the applicable insurance policy, or (ii) any law, regulation or presidential executive order of the USA prohibits the use, operation or location of the Equipment in such Foreign
Jurisdiction, or (iii) there is any material risk of war (declared or civil), of other hostilities or of confiscation, seizure or detention of the Equipment in such Foreign Jurisdiction. The Equipment will not be operated by a national of any
country in which the Equipment cannot be operated as provided herein. The Equipment shall be hangered at the location specified on Schedule A-1, or in any other permitted location . Borrower shall notify Lender prior to any change in the hanger
location. 
 3. INSURANCE. At its sole expense, Borrower at all times shall keep the Equipment insured against (A) all-risk
ground and flight aircraft hull insurance covering the Aircraft, and all-risk coverage with respect to the Aircraft or any Engines or parts while removed from the Aircraft, including foreign object damage whether resulting from ingestion or
otherwise, and war risk (including government confiscation, hijacking and other acts of terrorism) protection for an amount not less than the greater of the full replacement value of the Equipment or 102% of the outstanding principal balance of the
Note, and (B) public liability insurance with respect to third party bodily injury and property damage (including without limitation contractual liability, cargo liability, war risk (including government confiscation, hijacking and other acts
of terrorism), passenger legal liability and property damage coverage) naming Lender as additional insured in an amount not less than $50,000,000 per occurrence. Such insurance shall be with such deductibles, in such form and with such insurance
companies of recognized responsibility as is satisfactory to Lender, and which is usually carried with respect to commercial cargo aircraft by corporations of established reputation owning or operating commercial cargo aircraft similar to the
Aircraft. All insurers shall be reasonably satisfactory to Lender. Borrower shall deliver to Lender satisfactory evidence of such coverage. Proceeds of any insurance covering damage or loss of the Equipment shall be payable to Lender as loss payee
and shall be applied as set forth in Section 4 below. Borrower hereby appoints Lender as Borrower’s attorney-in-fact with full power and authority in the place of Borrower and in the name of Borrower or Lender to make claim for, receive
payment of, and sign and endorse all documents, checks or drafts for loss or damage under any such policy; provided, however, Lender agrees that it will not exercise such power of attorney unless an Event of Default has occurred and is continuing.
Each insurance policy will require that the insurer give Lender at least 30 days prior written notice of any cancellation of such policy and will require that Lender’s interests remain insured regardless of any act, error, omission, neglect or
misrepresentation of Borrower. The insurance maintained by Borrower shall be primary without any right of contribution from insurance that may be maintained by Lender. 
 4. LOSS OR DAMAGE. Borrower bears the entire risk of loss, theft, damage or destruction of Equipment in whole or in part from any reason whatsoever (“Casualty Loss”). No Casualty Loss to Equipment
shall relieve Borrower from the obligation to pay the installment payments or from any other obligation under this Agreement. In the event of Casualty Loss to any item of Equipment, Borrower shall immediately notify Lender of the same and Borrower
shall, if so directed by Lender, immediately repair the same. If Lender reasonably determines that the Equipment has suffered a Casualty Loss beyond repair or a Casualty Loss that substantially and permanently reduces the fair market value of the
Equipment (“Lost Equipment”), then Borrower, at the option of Lender, shall: (1) immediately replace the Lost Equipment with similar equipment in good repair, condition and working order free and clear of any Liens, convey to Lender a
security interest in such replacement equipment, and deliver to Lender such documents to evidence such conveyance and the International Interest and shall make such filings and registrations with the FAA and the International Registry (and hereby
consents to such registrations with the International Registry) with respect thereto as Lender requests, in which event such replacement equipment shall automatically be Equipment under this Agreement; or (2) on the installment payment due date
that is at least 30 days but no more than 60 days after the date of the Casualty Loss (“Loss Payment Due Date”), pay to Lender all accrued and unpaid principal, interest, late charges and other amounts then due and payable by Borrower
under this Agreement or the Note plus 102% of the remaining principal balance of the Note as of the Loss Payment Due Date as determined by Lender’s records which shall not be considered a penalty. . Upon payment by Borrower of all amounts due
under the above clause (2), all security interests of the Lender in the Lost Equipment, including those under the International Registry, will terminate. 
  

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 5. TAXES. Borrower will pay promptly when due all taxes, assessments and governmental charges upon
or against Borrower, the Collateral or the property or operations of Borrower, in each case before same becomes delinquent and before penalties accrue thereon, unless and to the extent that same are being contested in good faith by appropriate
proceedings. 
 6. GENERAL INDEMNITY. Borrower assumes all risk and liability for, and shall defend, indemnify and keep Lender
harmless on an after-tax basis from, any and all liabilities, obligations, losses, damages, penalties, claims, actions, suits, costs and expenses, including reasonable attorney fees and expenses, of whatsoever kind and nature imposed on, incurred by
or asserted against Lender, in any way relating to or arising out of the manufacture, purchase, acceptance, rejection, ownership, possession, use, selection, delivery, operation, condition, sale, return or other disposition of the Equipment or any
part thereof (including, without limitation, any claim for latent or other defects, whether or not discoverable by Borrower or any other person, any claim for negligence, tort or strict liability, any claim under any environmental protection or
hazardous waste law and any claim for patent, trademark or copyright infringement). Borrower will not indemnify Lender under this section for loss or liability of any kind caused by the gross negligence or willful misconduct of Lender. In this
section, “Lender” also includes any director, officer, employee, agent, successor or assign of Lender. Borrower’s obligations under this section shall survive the expiration, cancellation or termination of this Agreement. 

7. PERSONAL PROPERTY. Borrower represents and agrees that the Equipment is, and shall at all times remain, separately identifiable personal
property. Lender may display notice of its interest in the Equipment by any reasonable identification and Borrower shall not alter or deface any such indicia of Lender’s interest. 
 8. FINANCIAL & OTHER REPORTS. Borrower agrees to furnish to Lender: (a) annual audited financial statements setting forth the
financial condition and results of operation of Borrower (financial statements shall include balance sheet, income statement and statement of cash flows and all notes and auditor’s report thereto) within 90 days of the end of each fiscal year
of Borrower; (b) upon Lender’s request, quarterly financial statements setting forth the financial condition and results of operation of Borrower within 45 days of the end of each of the first three fiscal quarters of Borrower; and
(c) such other financial information as Lender may from time to time reasonably request including, without limitation, financial reports filed by Borrower with federal or state regulatory agencies. All such financial information shall be
prepared in accordance with generally accepted accounting principles on a basis consistently applied. Borrower will promptly notify Lender in writing with full details if any event occurs or any condition exists that constitutes, or that, but for a
requirement of lapse of time or giving of notice or both would constitute, an Event of Default under this Agreement or that might materially and adversely affect the financial condition or operations of Borrower or any affiliate of Borrower.
Borrower will promptly notify Lender in writing of the commencement of any litigation to which Borrower or any of its subsidiaries or affiliates may be a party (except for litigation in which Borrower’s or the affiliate’s contingent
liability is fully covered by insurance) which, if decided adversely to Borrower would materially adversely affect or impair the security interest of Lender to the Equipment or which, if decided adversely to Borrower would materially adversely
affect the business operations or financial condition of Borrower. Borrower will immediately notify Lender, in writing, of any judgment against Borrower if such judgment would have the effect described in the preceding sentence. 
 9. NO CHANGES IN BORROWER. Borrower shall not: (a) liquidate, dissolve or suspend its business; (b) sell, transfer or otherwise dispose
of all or a majority of its assets, except that Borrower may sell its inventory in the ordinary course of its business; (c) enter into any merger, consolidation or similar reorganization unless it is the surviving corporation; (d) transfer
all, or any substantial part of, its operations or assets outside of the United States of America; or (e) without 30 days advance written notice to Lender, change its name, state of incorporation or organization, or chief place of business.
There shall be no transfer of more than a 25% ownership interest in Borrower or any Guarantor (as defined in Section 12 hereof) by shareholders, partners, members or proprietors thereof in any calendar year without Lender’s prior written
consent. All financial covenants of Borrower and any Guarantor under any Affiliate Credit Agreement (as defined in Section 12 hereof) shall remain fully applicable to Borrower and any Guarantor (as the case may be) and shall not be violated by
Borrower or any Guarantor (as the case may be) at any time. If for any reason whatsoever an Affiliate Credit Agreement is canceled, discharged or otherwise terminated and if no other Affiliate Credit Agreement remains in effect as to Borrower or any
Guarantor, then, automatically and without any action by Lender or any other party, all financial covenants that are in effect as of the date immediately prior to the cancellation, discharge or termination of such Affiliate Credit Agreement shall
remain in full force and effect, shall be incorporated in this Agreement by reference, and shall be made a part of this Agreement. 
 10.
REPRESENTATIONS. Borrower represents and warrants that: (a) Borrower is a corporation as stated below Borrower’s signature duly organized, validly existing and in good standing under the laws of the state of Delaware and Borrower is
qualified to do business and is in good standing under the laws of each other state in which the Equipment is or will be located; (b) Borrower’s name as set forth at the outset of this Agreement is its complete and correct legal name as
indicated in the public records of Borrower’s state of organization; (c) Borrower has full power, authority and legal right to sign, deliver and perform this Agreement, the Note and all related documents and such actions have been duly
authorized by all necessary corporate, company, partnership or proprietorship action; (d) this Agreement, the Note and each related document has been duly signed and delivered by Borrower and each such document constitutes a legal, valid and
binding obligation of Borrower enforceable in accordance with its terms; (e) there is no litigation or other proceeding pending, or to the best of the Borrower’s knowledge, threatened against or affecting Borrower that, if decided
adversely to Borrower, would adversely affect, impair or 

  

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encumber the interest of Lender in the Equipment or would materially adversely affect the business operations or financial condition of Borrower;
(f) all balance sheets, income statements and other financial data that have been delivered to Lender (or JPMorgan Chase Bank, N.A.) with respect to Borrower are complete and correct in all material respects, fairly present the financial
condition of Borrower on the dates for which, and the results of its operations for the periods for which, the same have been furnished and have been prepared in accordance with generally accepted accounting principles consistently applied,
(g) there has been no material adverse change in the condition of Borrower, financial or otherwise, since the date of the most recent financial statements delivered to Lender (or JPMorgan Chase Bank, N.A.), (h) Borrower’s
organizational number assigned to Borrower by the state of its organization is correctly stated below Borrower’s signature; (i) this Agreement and the Note evidence a loan made primarily for business, commercial or agricultural purposes
and not primarily for personal, family, or household purposes; (j) the Equipment is not, and will not, be registered under the laws of any foreign country; (k) the Equipment is, and shall remain at all times, eligible for registration
under the Act (as defined in Section 19 hereof); (l) the Equipment shall be based in the United States as required by the Act; and (m) the Equipment will not be used in violation of any law, regulation, ordinance or policy of
insurance affecting the maintenance, use or flight of the Equipment; and (n) Borrower qualifies as a citizen of the United States as defined in the Act and will continue to qualify as a United States citizen in all respects; (o) the
Equipment is and will continue to be registered at all times with the FAA in the name of the Borrower. 
 11. OTHER DOCUMENTS; EXPENSES;
APPOINTMENT OF ATTORNEY-IN-FACT. Borrower agrees to sign and deliver to Lender any additional documents deemed desirable by Lender to effect the terms of the Note or this Agreement including, without limitation, Uniform Commercial Code financing
statements and instruments to be filed with the Federal Aviation Administration (“FAA”), all of which Lender is authorized to file with the appropriate filing officers. Borrower hereby irrevocably appoints Lender as Borrower’s
attorney-in-fact with full power and authority in the place of Borrower and in the name of Borrower to prepare, sign, amend, file or record any Uniform Commercial Code financing statements or other documents deemed desirable by Lender to perfect,
establish or give notice of Lender’s interests in the Equipment or in any collateral as to which Borrower has granted Lender a security interest. Borrower agrees to sign and deliver to Lender any additional documents deemed desirable by Lender
to effect the terms of this Agreement. Borrower shall pay upon Lender’s request any reasonable out-of-pocket costs and expense paid or incurred by Lender in connection with the above terms of this Agreement or the funding and closing of this
Agreement (including, without limitation, all reasonable out-of-pocket fees and expenses of any outside counsel to Lender). 
 12. EVENTS
OF DEFAULT. Each of the following events shall constitute an Event of Default under this Agreement and the Note: (a) Borrower fails to pay any installment payment or other amount due under this Agreement or the Note within 10 days of its
due date; or (b) Borrower fails to perform or observe any of its obligations in Sections 3, 9, or 18 hereof; or (c) Borrower fails to perform or observe any of its other obligations in this Agreement or the Note within 30 days after Lender
notifies Borrower of such failure; or (d) Borrower or any Guarantor fails to pay or perform or observe any term, covenant (including, but not limited to, any financial covenant), agreement or condition contained in, or there shall occur any
payment or other default under or as defined in, any loan, credit agreement, extension of credit or lease in which Lender or any subsidiary (direct or indirect) of JPMorgan Chase & Co. (or its successors or assigns) is the lender, creditor
or lessor (each an “Affiliate Credit Agreement”) that shall not be remedied within the period of time (if any) within which such Affiliate Credit Agreement permits such default to be remedied; or (e) any statement, representation or
warranty made by Borrower in this Agreement or in any document, certificate or financial statement in connection with this Agreement proves at any time to have been untrue or misleading in any material respect as of the time when made; or
(f) Borrower or any Guarantor becomes insolvent or bankrupt, or admits its inability to pay its debts as they mature, or makes an assignment for the benefit of creditors, or applies for, institutes or consents to the appointment of a receiver,
trustee or similar official for it or any substantial part of its property or any such official is appointed without its consent, or applies for, institutes or consents to any bankruptcy, insolvency, reorganization, debt moratorium, liquidation or
similar proceeding relating to it or any substantial part of its property under the laws of any jurisdiction or any such proceeding is instituted against it without stay or dismissal for more than 60 days, or it commences any act amounting to a
business failure or a winding up of its affairs, or it ceases to do business as a going concern; or (g) with respect to any guaranty, letter of credit, pledge agreement, security agreement, mortgage, deed of trust, debt subordination agreement
or other credit enhancement or credit support agreement (whether now existing or hereafter arising) signed or issued by any party (each a “Guarantor”) in connection with all or any part of Borrower’s obligations under this Agreement
or the Note, the Guarantor defaults in its obligations thereunder or any such agreement shall cease to be in full force and effect or shall be declared to be null, void, invalid or unenforceable by the Guarantor; or (h) Borrower or any
Guarantor fails to pay or perform or observe any term, covenant (including, but not limited to, any financial covenant), agreement or condition contained in, or there shall occur any payment or other default under or as defined in any Other Credit
Agreement (as defined in Section 19 hereof) that shall not be remedied within the period of time (if any) within which such Other Credit Agreement permits such default to be remedied, regardless of whether such default is waived by any other
party to such Other Agreement or such default produces or results in the cancellation of such Other Credit Agreement or the acceleration of the liability, indebtedness or other obligation under such Other Credit Agreement; or (i) Borrower or
any Guarantor shall suffer the loss of any material license or franchise when Lender shall reasonably conclude that such loss fairly impairs Borrower’s or such Guarantor’s ability to perform its obligations required under this Agreement or
the Note; or (j) Borrower or any Guarantor shall fail to pay any final judgment for the payment of money in an amount equal to or in excess of $50,000.00; or (k) there shall occur in Lender’s reasonable opinion any material adverse
change in the financial condition, business or operations of Borrower or any Guarantor that will impair or impede Borrower’s ability to meet its financial obligations hereunder or under the Note. 
  

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 13. RIGHTS UPON DEFAULT. 
 13.1 If any Event of Default exists, Lender may exercise in any order one or more of the remedies described in the lettered subparagraphs of this
section, and Borrower shall perform its obligations imposed thereby: 
 (a) Lender may require Borrower to turnover any and all Collateral to
Lender. 
 (b) Lender or its agent may repossess any or all Collateral wherever found, may enter the premises where the Collateral is located
and remove it, may use such premises without charge to store or show the Collateral for sale for up to 90 days, and may demand that Borrower cease using the Collateral. 
 (c) Lender may file with the FAA and exercise its rights pursuant to any IDERA delivered to Lender pursuant to Section 26(c) of this Agreement. 
 (d) Lender may sell any or all Collateral at public or private sale, with or without advertisement or publication, may lease or otherwise dispose of it
or may use, hold or keep it. 
 (e) Lender may require Borrower to pay to Lender on a demand date specified by Lender, (i) all accrued
and unpaid interest, late charges and other amounts due under the Note or this Agreement as of such demand date, plus (ii) the remaining principal balance of the Note as of such demand date, plus (iii) interest at the Overdue Rate on the
total of the foregoing from such demand date to the date of payment. “Overdue Rate” means an interest rate per annum equal to the higher of 18% or 2% over the Prime Rate, but not to exceed the highest rate permitted by applicable law. If
an Event of Default under section 12(f) of this Agreement exists, then Borrower will be automatically liable to pay Lender the foregoing amounts as of the next installment payment date under the Note unless Lender otherwise elects in writing.

 (f) Borrower shall pay all reasonable costs, expenses and damages incurred by Lender because of the Event of Default or its actions under
this section, including, without limitation any collection agency and/or attorney fees and expenses, and any costs related to the repossession, safekeeping, storage, repair, reconditioning or disposition of the Collateral. 
 (g) Lender may sue to enforce Borrower’s performance of its obligations under the Note and this Agreement and/or may exercise any other right or
remedy then available to Lender at law or in equity. 
 13.2 Except as otherwise expressly required by Section 12 hereof or by
applicable law, Lender is not required to take any legal process or give Borrower any notice before exercising any of the above remedies. If Lender is required to give notice, 10 calendar days advanced notice is reasonable notification. None of the
above remedies is exclusive, but each is cumulative and in addition to any other remedy available to Lender. Lender’s exercise of one or more remedies shall not preclude its exercise of any other remedy. No action taken by Lender shall release
Borrower from any of its obligations to Lender. No delay or failure on the part of Lender to exercise any right hereunder shall operate as a waiver thereof nor as an acquiescence in any default, nor shall any single or partial exercise of any right
preclude any other exercise thereof or the exercise of any other right. After any Event of Default, Lender’s acceptance of any payment by Borrower under the Note or this Agreement shall not constitute a waiver by Lender of such default,
regardless of Lender’s knowledge or lack of knowledge at the time of such payment, and shall not constitute a reinstatement of the Note or this Agreement if this Agreement has been declared in default by Lender, unless Lender has agreed in
writing to reinstate this Agreement and to waive the default. With respect to any Collateral or any Obligation, Borrower assents to all extensions or postponements to the time of payment thereof or any other indulgence in connection therewith, to
each substitution, exchange or release of Collateral, to the release of any party primarily or secondarily liable, to the acceptance of partial payment thereof or to the settlement or compromise thereof, all in such matter and such time or times as
Lender may deem advisable. 
 13.3 If Lender actually repossesses any Collateral, then it will use commercially reasonable efforts under the
then current circumstances to attempt to mitigate its damages; provided, that Lender shall not be required to sell, lease or otherwise dispose of any Collateral prior to Lender enforcing any of the remedies described above. Lender may sell or lease
the Collateral in any manner it chooses, free and clear of any claims or rights of Borrower and without any duty to account to Borrower with respect thereto except as provided below. If Lender actually sells or leases the Collateral, it will credit
the net proceeds of any sale of the Collateral, or the net present value (discounted at the then current Prime Rate) of the rents payable under any lease of the Collateral, against the amounts Borrower owes Lender. The term “net” as used
above shall mean such amount after deducting the reasonable costs and expenses described in clause (e) of Section 13.1 above. Borrower shall remain liable for any deficiency if the net proceeds are insufficient to pay all amounts to which
Lender is entitled hereunder. 
  

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 14. LATE CHARGES. If any installment payment or other amount payable under the Note or this
Agreement is not paid within 5 business days of its due date, then as compensation for the administration and enforcement of Borrower’s obligation to make timely payments, Borrower shall pay with respect to each overdue payment on demand an
amount equal to the greater of fifteen dollars ($15.00) or five percent (5%) of the each overdue payment (but not to exceed the highest late charge permitted by applicable law) plus any collection agency fees and expenses. The failure of Lender
to collect any late charge will not constitute a waiver of Lender’s right with respect thereto. 
 15. LENDER’S RIGHT TO
PERFORM. If Borrower fails to make any payment under this Agreement or fails to perform any of its other obligations in this Agreement (including, without limitation, its agreement to provide insurance coverage), Lender may itself make such
payment or perform such obligation, and the amount of such payment and the amount of the reasonable expenses of Lender incurred in connection with such payment or performance shall be deemed to be additional principal under the Note which is payable
by Borrower on demand. 
 16. NOTICES; POWER OF ATTORNEY. (a) Service of all notices under this Agreement shall be sufficient if
given personally or couriered or mailed to the party involved at its respective address set forth herein or at such other address as such party may provide in writing from time to time. Any such notice mailed to such address shall be effective three
days after deposit in the United States mail with postage prepaid. Notice by overnight courier shall be deemed given and received on the date scheduled for delivery. (b) With respect to any power of attorney covered by this Agreement, the
powers conferred on Lender thereby: are powers coupled with an interest; are irrevocable; are solely to protect Lender’s interests under this Agreement; and do not impose any duty on Lender to exercise such powers. Lender shall be accountable
solely for amounts it actually receives as a result of its exercise of such powers. 
 17. ASSIGNMENT BY LENDER. Lender
and any assignee of Lender, with notice to, but not consent of, Borrower, may sell, assign, transfer or grant a security interest in all or any part of Lender’s rights, obligations, title or interest in the Collateral, the Note, this Agreement,
or the amounts payable under the Note or this Agreement to any entity (“transferee”). The transferee shall succeed to all of Lender’s rights in respect to this Agreement (including, without limitation, all rights to insurance and
indemnity protection described in this Agreement). Borrower agrees to sign any acknowledgment and other documents reasonably requested by Lender or the transferee in connection with any such transfer transaction. Borrower, upon receiving reasonable
notice of any such transfer transaction, shall comply with the terms and conditions thereof. Borrower agrees that Lender may provide loan information and financial information about Borrower on a confidential basis and under a written
confidentiality agreement to any prospective transferee. 
 18. NO ASSIGNMENT OR LEASING BY BORROWER. BORROWER SHALL NOT, DIRECTLY OR
INDIRECTLY, WITHOUT THE PRIOR WRITTEN CONSENT OF LENDER: (a) MORTGAGE, ASSIGN, SELL, TRANSFER, OR OTHERWISE DISPOSE OF INTEREST IN THIS AGREEMENT OR THE COLLATERAL OR ANY PART THEREOF; OR (b) WITHOUT THE PRIOR WRITTEN CONSENT OF LENDER,
WHICH CONSENT SHALL NOT BE UNREASONABLY WITHHELD, LEASE, RENT, LEND OR TRANSFER POSSESSION OR USE OF THE EQUIPMENT OR ANY PART THEREOF TO ANY PARTY; OR (c) CREATE, INCUR, GRANT, ASSUME OR ALLOW TO EXIST ANY LIEN ON ITS INTEREST IN THIS
AGREEMENT, THE COLLATERAL OR ANY PART THEREOF;OR (d) REGISTER ANY PROSPECTIVE OR CURRENT INTERNATIONAL INTEREST OR CONTRACT OF SALE (OR ANY AMENDMENT, MODIFICATION, SUPPLEMENT, SUBORDINATION OR SUBROGATION THEREOF) WITH THE INTERNATIONAL
REGISTRY WITH RESPECT TO THE EQUIPMENT OR ANY PART THEREOF TO ANY PARTY OTHER THAN LENDER; OR (e) EXECUTE OR DELIVER ANY IDERA (AS DEFINED IN SECTION 26 HEREOF) WITH RESPECT TO THE EQUIPMENT OR ANY PART THEREOF TO ANY PARTY OTHER THAN LENDER.

 19. CERTAIN DEFINITIONS. “Act” means subtitle VII of Title 49 of the United States Code. “Cape Town Treaty” has
the meaning provided in 49 U.S.C. section 44113(1). “International Interest” has the meaning provided thereto in the Cape Town Treaty. “International Registry” has the meaning provided in 49 U.S.C. section 44113(3).
“Lien” means any security interest, lien, International Interest, Prospective Assignment, Prospective International Interest, mortgage, pledge, encumbrance, judgment, execution, attachment, warrant, writ, levy, other judicial process or
claim of any nature whatsoever by or of any person. “Prime Rate” means the prime rate of interest announced from time to time as the prime rate by JPMorgan Chase Bank, N.A. (or its successors or assigns); provided, that the parties
acknowledge that the Prime Rate is not intended to be the lowest rate of interest charged by said bank in connection with extensions of credit. “Other Credit Agreement” means any agreement applicable to Borrower or any Guarantor or by
which Borrower or any Guarantor is bound involving a liability, indebtedness or performance obligation of Borrower or any Guarantor with a potential liability to Borrower or any Guarantor in an amount equal to or in excess of $500,000.00.
“Prospective Assignment” shall have the meaning provided thereto in the Cape Town Treaty. “Prospective International Interest” shall have the meaning provided thereto in the Cape Town Treaty. “Convention” means the
Convention on International Interests in Mobile Equipment as implemented and modified by the Aircraft Protocol. “Aircraft Protocol” means the Protocol to the Convention on Matters Specific to Aircraft Equipment as adopted by the United
States of America. All terms defined herein are equally applicable to both the singular and plural form of such terms. 
 
 20. CONDITIONS. Lender is not obligated to make any loan or disburse any principal hereunder unless: (a) Lender has received the Note signed
by the Borrower; (b) Lender has received evidence of all required insurance; (c) in Lender’s sole reasonable judgment, there has been no material adverse change in the financial condition or business of Borrower or any Guarantor that
adversely impacts Borrower’s ability to perform its obligations hereunder or under the Note; (d) Borrower has 

  

 Page 6 

 
signed and delivered to Lender this Agreement and Lender has signed and accepted this Agreement; (e) Lender has received the documents, instruments and
evidence as to satisfaction of the matters specified in Schedule 2 attached hereto, each of which shall be satisfactory to Lender in form and substance and each document or instrument to be duly authorized, executed and delivered and
in full force and effect; (f) Lender has received, in form and substance satisfactory to Lender, such other documents and information as Lender shall reasonably request; and (g) Borrower has satisfied all other reasonable conditions
established by Lender. 
 21. USURY. It is not the intention of the parties to this Agreement to make an agreement that violates any
of the laws of any applicable jurisdiction relating to usury (“Usury Laws”). Regardless of any provision in this Agreement, the Note, or any document in connection therewith, Lender shall not be entitled to receive, collect or apply, as
interest on any Obligation, any amount in excess of the Maximum Amount (the “Excess”). As used herein, “Maximum Amount” shall mean the maximum amount of interest which would have accrued if the unpaid principal amount of the
Obligation outstanding from time to time had borne interest each day at the maximum amount of interest which lender is permitted to charge on the Obligation under the Usury Laws. If Lender ever receives, collects or applies as interest any Excess,
such Excess shall be deemed a partial repayment of principal and treated hereunder as such; and if principal is paid in full, any remaining Excess shall be paid to Borrower. In determining whether or not the interest paid or payable under any
specific contingency exceeds the Maximum Amount, Borrower and Lender shall, to the maximum extent permitted under the Usury Laws, (a) characterize any non-principal payment as an expense, fee or premium rather than as interest, (b) exclude
voluntary prepayments and the effect thereof, and (c) amortize, prorate, allocate and spread in equal parts, the total amount of interest throughout the entire contemplated term of the Obligation so that the interest rate is uniform throughout
the entire term of the Obligation; provided that if the Obligation is paid and performed in full prior to the full contemplated term thereof, and if the interest received for the actual period of existence thereof exceeds the Maximum Amount, Lender
shall refund to Borrower the Excess, and, such event shall not be subject to any penalties provided by the Usury Laws. 
 22. GOVERNING
LAW. THE INTERPRETATION, CONSTRUCTION AND VALIDITY OF THIS AGREEMENT AND THE NOTE SHALL BE GOVERNED BY THE LAWS OF THE STATE OF NEW YORK WITHOUT REFERENCE TO CONFLICT OF LAW PROVISIONS. 
 23. MISCELLANEOUS. (a) Subject to the limitations herein, this Agreement shall be binding upon and inure to the benefit of the parties hereto
and their respective heirs, administrators, successors and assigns. (b) This Agreement may be executed in any number of counterparts, which together shall constitute a single instrument. (c) Section and paragraph headings in this Agreement
are for convenience only and have no independent meaning. (d) The terms of this Agreement shall be severable and if any term thereof is declared unconscionable, invalid, illegal or void, in whole or in part, the decision so holding shall not be
construed as impairing the other terms of this Agreement and this Agreement shall continue in full force and effect as if such invalid, illegal, void or unconscionable term were not originally included herein. (e) All indemnity obligations of
Borrower under this Agreement and all rights, benefits and protections provided to Lender by warranty disclaimers shall survive the cancellation, expiration or termination of this Agreement. (f) Lender shall not be liable to Borrower for any
indirect, consequential or special damages for any reason whatsoever. (g) This Agreement may be amended, but only by a written amendment signed by Lender and Borrower. (h) If this Agreement is signed by more than one Borrower, each of such
Borrowers shall be jointly and severally liable for payment and performance of all of Borrower’s obligations under this Agreement. (i) This Agreement represents the final, complete and entire agreement between the parties hereto, and there
are no oral or unwritten agreements or understandings affecting this Agreement or the Collateral. (j) Borrower agrees that Lender is not the agent of any manufacturer or supplier, that no manufacturer or supplier is an agent of Lender, and that
any representation, warranty or agreement made by manufacturer, supplier or by their employees, sales representatives or agents shall not be binding on Lender. (k) In order to secure all obligations of Borrower under this Agreement and the
Note, Borrower assigns and grants to Lender a security interest in all rights, powers and privileges of Borrower under any lease of any Equipment hereafter authorized in writing by Lender. 
 24. GOVERNMENT REGULATION. Borrower shall not (a) be or become subject, at any time, to any law, regulation, or list of any government
agency (including, without limitation, the U.S. Office of Foreign Asset Control list) that prohibits or limits Lender from making any advance or extension of credit to Borrower or from otherwise conducting business with Borrower or (b) fail to
provide documentary and other evidence of Borrower’s identity as may be requested by Lender at any time to enable Lender to verify Borrower’s identity or to comply with any applicable law or regulation, including, without limitation,
Section 326 of the USA Patriot Act of 2001, 31 U.S.C. Section 5318. 
 25. USA PATRIOT ACT NOTIFICATION. The
following notification is provided to Borrower pursuant to Section 326 of the USA Patriot Act of 2001, 31 U.S.C. Section 5318: 
 IMPORTANT INFORMATION ABOUT PROCEDURES FOR OPENING A NEW ACCOUNT. To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record
information that identifies each person or entity that opens an account, including any deposit account, treasury management account, loan, other extension of credit, or other financial services product. What this means for 

  

 Page 7 

 
Borrower: When Borrower opens an account, if Borrower is an individual, Lender will ask for Borrower’s name, tax payer identification number,
residential address, date of birth, and other information that will allow Lender to identify Borrower, and if Borrower is not an individual, Lender will ask for Borrower’s name, taxpayer identification number, business address, and other
information that will allow Lender to identify Borrower. Lender may also ask, if Borrower is an individual, to see Borrower’s driver’s license or other identifying documents, and if Borrower is not an individual, to see Borrower’s
legal organizational documents or other identifying documents. 
 26. COMPLIANCE WITH CONVENTION; RECORDATION WITH THE INTERNATIONAL
REGISTRY. Without limiting any other terms or conditions of this Agreement, Borrower agrees as follows, all of which shall be undertaken at Borrower’s sole expense: 
 (a) Prior to the closing and funding of any loan hereunder, Borrower shall register and be approved as a “user” with the International Registry.

 (b) Prior to the closing and funding of any loan hereunder, Borrower shall take any and all such action, and shall execute and deliver such
instruments, documents and certificates, as Lender may require in order to accurately register and timely record the respective interests of Borrower and Lender in the Equipment with the International Registry pursuant to the Convention, such
interests to be searchable in the International Registry to the satisfaction of the Lender, and with the FAA pursuant to the Act, including, without limitation, providing such consents (and does hereby consent)as may be required to permit Lender to
give effect to the timely registration and recordation with the International Registry of the respective interests of Borrower and Lender in the Equipment. 
 (c) Borrower shall execute and deliver to Lender a fully completed and originally executed Irrevocable De-Registration and Export Request Authorization (“IDERA”), in the form acceptable to the Lender in its
sole reasonable and absolute discretion. 
 (d) Borrower shall take any and all such action, and shall execute and deliver such instruments,
documents and certificates, as Lender may require in order to maintain the registration and recordation of the respective interests of Borrower and Lender in the Equipment with the International Registry pursuant to the Convention and with the FAA
pursuant to the Act. 
 27. RELEASE OF LIEN. If Borrower pays in full all of the principal and interest due under the Note in
accordance with its provisions and if Borrower pays and performs all other Obligations of Borrower and if no Event of Default then exists under this Agreement, then as promptly as reasonably possible after Borrower’s written request, Lender
will cause all Liens placed on the Equipment by or through Lender, its assignee or agent to be removed at Borrower’s expense, and such Liens to be removed by Lender will include, without limitation, those Liens filed by or through Lender, its
assignee or agent with the FAA and/or the International Registry, pursuant to the Convention and Aircraft Protocol, each as amended from time to time. 
 [The next page is the signature page.] 
  

 Page 8 

 ALL PARTIES TO THIS AGREEMENT IRREVOCABLY CONSENT TO THE JURISDICTION AND VENUE OF ANY STATE OR FEDERAL COURT IN NEW
YORK, AND WAIVE ALL RIGHTS TO TRIAL BY JURY, IN ANY ACTION, PROCEEDING OR COUNTERCLAIM BROUGHT BY ANY PARTY AGAINST ANY OTHER PARTY ON ANY MATTER WHATSOEVER ARISING OUT OF, IN CONNECTION WITH OR IN ANY WAY RELATED TO THE NOTE OR THIS AGREEMENT. 

  

									
	CHASE EQUIPMENT LEASING INC.	 		 	ABX AIR, INC.
	(Lender)	 		 	(Borrower)
					
	By:	 	/s/ Stacey R. Roth	 		 	By:	 	/s/ Joseph C. Hete and Quint O. Turner
	Title:	 	FUNDING MANAGER	 		 	Title:	 	Chief Executive Officer and Chief Financial Officer

									
				
	Acceptance Date: April 25, 2007	 		 	Borrower’s Witness:	 	/s/ Joseph E. Roux
		 		 		 		 	

 Borrower Organization Information: 
 A corporation organized under the laws of the State of Delaware with State Organization # 0885720 
  

 Page 9 

 SCHEDULE A-1 
 Loan No.: 1000130807 
  

			
		
		  	DESCRIPTION OF EQUIPMENT
		
	Airframe Make/Model:	  	BOEING 767-232
		
	Airframe Serial No.:	  	22227
		
	U.S. Identification No.:	  	N750AX
		
	Engine Quantity/Make/Model:	  	(2) GENERAL ELECTRIC CF6-80A2
		
	Engine Serial No(s).:	  	580147 and 580157

 Together with all engines, avionics, communication equipment, navigation equipment, instruments,
accessories, attachments, parts, appurtenances, accessions, furnishings and other equipment attached to, installed in or relating to any of the foregoing property and all maintenance and service logs and records relating to the foregoing property.

 Each engine has 550 or more rated takeoff horsepower or the equivalent of such horsepower. 
 The Equipment shall be hangered at the following location: 
  

							
	DHL AIRPARK (ILN), 145 Hunter Drive,	  	Wilmington,	  	Ohio 45177	  	Clinton
	Name of Airport and Street Address	  	City	  	State	  	County

 This Schedule A-1 is attached to, and made a part of, the Loan Agreement and Security Agreement with the Loan
Number referenced above and contains a true and accurate description of the Equipment. 
  

			
	ABX AIR, INC.
	(Borrower)
		
	By:	 	/s/ Joseph C. Hete and Quint O. Turner
	Title:	 	Chief Executive Officer and Chief Financial Officer

  

 Page 10 

 SCHEDULE 2 
 Attached to Loan and Security Agreement for Loan No. 1000130807 
 ADDITIONAL CONDITIONS TO FUNDING THE LOAN*

 1. Lender shall have been offered an opportunity to inspect the maintenance and service logs and records relating to the Collateral and such logs and
records shall be reasonably satisfactory to Lender. 
 2. Lender shall receive terminations or releases of liens in a form recordable with the Federal
Aviation Administration from all creditors with a lien on any part of the Collateral as shown in the FAA lien records. 
 3. Lender shall receive UCC-3
terminations or release of liens in recordable form from all creditors with a lien on any part of the Collateral as shown in state or local lien records. 
 4. Lender shall receive such evidence that any International Interest, Prospective Assignment, or Prospective International Interest in any way relating to the Equipment not consented to in writing by Lender has been discharged. 

 

	5.	Lender has received the following documents, each executed by the parties thereto, in form acceptable to Lender: 

  

	 	a.	Business Purpose Promissory Note in the principal amount of $17,500,000.00 dated April 25, 2007 

  

	 	b.	Prepayment Addendum 

  

	 	c.	Assignment of Deposit Account, for Account #2330633872, in the amount of $5,250,000.00, and Notice of Assignment, Acknowledgment and Control Agreement 

  

	 	d.	Irrevocable De-Registration and Export Request Authorization 

  

	 	e.	Secretary’s Certificate and Corporate Resolution of ABX Air, Inc. 

  

	 	f.	Partial Termination of Uniform Commercial Code financing statement number 40937948 showing Bank One, NA, as secured party, and Borrower, as debtor, filed on April 26, 2007, in
the office of Delaware Secretary of State. 

  

	 	g.	Evidence of Insurance in the name of Lender 

  

	 	h.	Opinion of FAA and International Registry counsel dated April 25, 2007, addressed to Lender from Daugherty, Fowler, Peregrin, Haught & Jenson.

  

	*	The inclusion of additional funding conditions in this Schedule 2 shall not limit the generality of the conditions set forth in the Agreement. 

  

			
	ABX AIR, INC.
	(Borrower)
		
	By:	 	/s/ Joseph C. Hete and Quint O. Turner
	Title:	 	Chief Executive Officer and Chief Financial Officer

  

 Page 11 

 BUSINESS PURPOSE PROMISSORY NOTE 
 (fixed rate/principal and interest) 
 Loan Number: 1000130807 
  

			
	Amount $17,500,000.00	  	Date: April 25, 2007

							
	
	This Note is executed together with the Loan and Security Agreement dated as of April 25, 2007 (the “Loan Agreement”) and
	is executed at	 	Wilmington,	 	Ohio.	 	
		 	(City)	 	(State)	 	

 For value received, receipt of which is hereby acknowledged, the undersigned
(“Borrower”) promises to pay to the order of CHASE EQUIPMENT LEASING INC. (“Lender”) at its principal office or at such other place as Lender may designate from time to time in lawful money of the United States of America, the
principal sum of Seventeen Million Five Hundred Thousand and 00/100ths Dollars ($17,500,000.00), or such lesser portion thereof as may have from time to time been disbursed to, or for the benefit of Borrower, and as remains unpaid pursuant to the
books or records of Lender, together with interest at the Interest Rate set forth below on the unpaid balance of principal advanced from the date(s) of disbursement until paid in full as set forth below. Principal sums(s) disbursed and repaid will
not be available for redisbursement. Interest shall be calculated on a 360 day year basis with each month consisting of 30 days. 
 Interest Rate: Six and 918/1000ths percent (6.918%) per annum. 
 1. The term of this Note consists of the
Interim Term plus the Base Term. The Interim Term begins on the Acceptance Date and continues up to the Commencement Date of the Base Term. The Commencement Date shall mean May 1, 2007. 
 2. If the Acceptance Date is before the Commencement Date, then on the Commencement Date of the Base Term, Borrower shall pay one installment of interest
only based upon the number of days in the Interim Term. 
 3. During the Base Term, Borrower shall pay installments of principal and interest
in the amounts and on the dates stated below: 
 (a) Base Term: 120 months 
 (b) Amount of each installment payment due during the Base Term (includes principal and interest): 
 119 @ $171,981.97 
 1 @ $5,421,981.97 
 (c) The first installment payment during the Base Term shall be paid one month after the
Commencement Date and all subsequent installment payments shall be paid on the same day of each month thereafter until paid in full. 
 4. On or before the date of this Note, Borrower shall pay a set-up/filing fee in the amount of $0.00. 
 5. Payments shall be
allocated between principal, interest and fees, if any, in the discretion of Lender. Borrower may not prepay the principal sum except as is otherwise provided for in that certain Prepayment Addendum executed as of April 25, 2007 by and between
Lender and Borrower, and the Assignment of Deposit Account dated April 25, 2007. Borrower’s obligation to pay all installment payments and all other amounts payable under this Note is absolute and unconditional under any and all
circumstances and shall not be affected by any circumstances of any character including, without limitation, (a) any setoff, claim, counterclaim, defense or reduction which Borrower may have at any time against Lender or any other party for any
reason, or (b) any defect in the condition, design or operation of, any lack of fitness for use of, any damage to or loss of, or any lack of maintenance or service for any of the Equipment (as defined in the Loan Agreement). 
  

 Page 12 

 6. This Note is entitled to the benefits, and is subject to the terms and requirements of, the Loan
Agreement executed by Borrower and Lender, which Loan Agreement, among other things, (a) provides for the making of the loan evidenced hereby, and (b) provides for events of default, acceleration and other remedies. Borrower waives
presentment, demand, protest or notice of any kind in connection with this Note. 
 7. LENDER AND BORROWER IRREVOCABLY CONSENT TO
THE JURISDICTION AND VENUE OF ANY STATE OR FEDERAL COURT IN OHIO, AND WAIVE ALL RIGHTS TO TRIAL BY JURY, IN ANY ACTION, PROCEEDING OR COUNTERCLAIM BROUGHT BY ANY PARTY AGAINST ANY OTHER PARTY ON ANY MATTER WHATSOEVER ARISING OUT OF, IN CONNECTION
WITH OR IN ANY WAY RELATED TO THIS INSTRUMENT. 
  

									
	ABX Air, Inc.	 		 	    /s/ Joseph E. Roux
	(“Borrower”)	 		 	Witness as to Borrower’s signature
					
	By:	 	/s/ Joseph C. Hete and Quint O. Turner	 		 		 	
	Title:	 	Chief Executive Officer and Chief Financial Officer	 		 		 	

  

 Page 13BIOFORCE NANOSCIENCES HOLDINGS, INC.

                 AMENDED AND RESTATED 2006 EQUITY INCENTIVE PLAN

1. ESTABLISHMENT AND PURPOSE.

      1.1 Establishment. BioForce Nanosciences, Inc., a Delaware corporation
("BioForce") previously established the Amended and Restated BioForce
Nanosciences, Inc. 2000 Stock Incentive Plan (the "2000 Plan"). In 2003,
BioForce established the BioForce Nanosciences, Inc. 2003 Stock Option Plan (the
"2003 Plan"). In 2006, BioForce merged (the "Merger") with and into a Subsidiary
of BioForce Nanosciences Holdings, Inc., a Nevada corporation f/k/a Silver River
Ventures, Inc. (the "Company") pursuant to the Agreement and Plan of Merger
dated as of November 20, 2005 (the "Merger Agreement"). Subsequent to the
Merger, the Company established the BioForce Nanosciences Holdings, Inc. 2006
Equity Incentive Plan (the "2006 Plan"). The 2000 Plan, the 2003 Plan and the
2006 Plan are each hereby amended and restated in their entirety as this
BioForce Nanosciences Holdings, Inc. Amended and Restated 2006 Equity Incentive
Plan (the "Plan"). All previous awards, grants, and issuances under the 2000
Plan, the 2003 Plan and the 2006 Plan are governed by the Plan.

      1.2 Purpose. The purpose of the Plan is to advance the interests of the
Company and its shareholders by providing officers, directors, key employees,
consultants and other independent contractors of the Company and Affiliates,
upon whose judgment, initiative and efforts the successful conduct of the
business of the Company and Affiliates largely depends, with additional
incentive to perform in a superior manner. A purpose of the Plan also is to
attract and retain personnel of experience and ability to the service of the
Company and Affiliates, and to reward such individuals for achievement of
corporate and individual performance goals.

2. DEFINITIONS.

      2.1 "Affiliate" means an affiliate of the Company, with the word
"affiliate" as defined in Rule 12b-2 promulgated by the SEC under the Exchange
Act.

      2.2 "Award" means a Stock Grant or a grant of Non-statutory Stock Options
or Incentive Stock Options or Stock Appreciation Rights pursuant to the
provisions of the Plan.

      2.3 "BioForce" has the meaning set forth in Section 1.1.

      2.4 "Board of Directors" or "Board" means the board of directors of the
Company.

      2.5 "Code" means the Internal Revenue Code of 1986, as amended.

      2.6 "Change in Control" means, with respect to the Company, the occurrence
of any of the following events, unless stated otherwise in an Award or as
otherwise required by Code Section 409A to avoid the additional taxes therein:
(i) any "person," as the term is used in Section 3 of the Exchange Act (other
than a Company employee benefit plan or a trust created to hold Common Stock
beneficially owned by Employees) who is or becomes the "beneficial owner" as

<PAGE>

defined in Rule 16a-1 under the Exchange Act, directly or indirectly, of
securities of the Company representing more than fifty percent (50%) of either
the total fair market value or the total voting power of the stock of the
Company; (ii) consummation of a plan of reorganization, merger, or
consolidation, in which the shareholders of the Company own less than fifty
percent (50%) of the outstanding voting securities of the surviving entity;
(iii) a sale, during a twelve month period, of substantially all of the
Company's assets; (iv) a liquidation or dissolution of the Company or a similar
transaction; (v) a majority of the Board of Directors is replaced during any
12-month period by directors whose appointment or election is not endorsed by a
majority of the members of the Company's Board of Directors prior to the date of
the appointment or election. Notwithstanding the preceding, seventy percent
(70%) shall be substituted for fifty percent (50%) in clause (i) for purposes of
determining a Change in Control with respect to any Incentive Stock Options
issued under the 2003 Plan. In no circumstances shall the closing of the Merger
be considered a Change in Control for purposes hereunder.

      2.7 "Committee" or "Plan Administrator" means the Board or if delegated by
the Board, the compensation committee of the Board or other committee of the
Board, consisting of two or more directors appointed by the Board who are
"non-employee directors," as defined in Rule 16b-3 promulgated by the SEC under
the Exchange Act, and "outside directors" as defined in Treas. Reg. 1.162-27
promulgated under the Code.

      2.8 "Common Stock" means the common stock of the Company.

      2.9 "Company" has the meaning set forth in Section 1.1.

      2.10 "Covered Employee" has the meaning set forth in Code Section
162(m)(3)(A).

      2.11 "Date of Grant" means the date an Award is effective pursuant to the
terms hereof.

      2.12 "Disability" has the meaning set forth in Code Section 409A or any
regulations or other guidance thereunder; except that "Disability" shall have
the meaning set forth in Section 22(e)(3) of the Code as applied to Incentive
Stock Options issued under the 2003 Plan.

      2.13 "Effective Date" has the meaning set forth in Section 21.

      2.14 "Employee" means any person who, on the particular Date of Grant or
other time of determination as the context requires, is currently employed by
the Company or an Affiliate.

      2.15 "Exchange Act" means the Securities Exchange Act of 1934, as amended.

      2.16 "Exercise Notice" has the meaning set forth in Section 12.

      2.17 "Fair Market Value" means, as of any date, the fair market value of
one share of Common Stock as determined by the Committee in a manner consistent
with Code Section 409A and any regulations or other guidance thereunder (except
that, as applied to Incentive Stock Options, such value shall be determined in a
manner consistent with Code Section 422 and any regulations thereunder) and
applicable SEC and Exchange Act rules or regulations. It is the intent that such
determinations shall be made in such a manner so that the Plan and Awards
granted hereunder are not subject to the additional taxes referenced in Code
Section 409A.

                                      -2-
<PAGE>

      2.18 "Incentive Stock Option" means an Option granted by the Committee to
a Participant, which Option is designated as an Incentive Stock Option pursuant
to Section 9 of the Plan.

      2.19 "Merger" has the meaning set forth in Section 1.1.

      2.20 "Merger Agreement" has the meaning set forth in Section 1.1.

      2.21 "Non-statutory Stock Option" means an Option that is not an Incentive
Stock Option.

      2.22 "Option" means an Award granted under Section 8 or Section 9 of the
Plan.

      2.23 "Option Period" means the time period within which the Option holder
may exercise the right to purchase shares of Common Stock under an Award.

      2.24 "Outside Director" means a director of the Company who is not also an
Employee.

      2.25 "Participant" means an Employee, a non-Employee consultant,
independent contractor, officer or director of the Company or an Affiliate
chosen by the Committee to participate in the Plan.

      2.26 "Retirement" means a termination of employment other than a
Termination for Cause after attaining age 60 and 10 years of service as an
Employee of the Company.

      2.27 "SEC" means the U.S. Securities and Exchange Commission.

      2.28 "Stock Appreciation Rights" means an Award granted under Section 10
of the Plan.

      2.29 "Stock Grant" means a grant of shares of Common Stock accompanied by
such restrictions, if any, as may be determined by the Committee under Section 7
of the Plan.

      2.30 "Subsidiary" means a subsidiary as defined in Section 424(f) of the
Code or any successor provision thereto.

      2.31 "Termination for Cause" means the termination of employment or other
services for gross negligence, personal dishonesty, incompetence, willful
misconduct, any breach of fiduciary duty involving personal profit, intentional
failure to perform stated duties, or the willful violation of any law, rule or
regulation (other than traffic violations or similar offenses), or for an
Employee with an employment agreement or a consultant or independent contractor
with a services contract that defines the term, it shall have the same meaning
as set forth in such employment agreement or services contract.

                                      -3-
<PAGE>

      2.32 "2000 Plan" has the meaning set forth in Section 1.1.

      2.33 "2003 Plan" has the meaning set forth in Section 1.1.

      2.34 "2006 Plan" has the meaning set forth in Section 1.1.

3. ADMINISTRATION.

      3.1 General. The Plan shall be administered by the Committee. The
Committee shall act by vote or written consent of a majority of its members. The
Committee is authorized, subject to the provisions of the Plan, to establish
such rules and regulations as it deems necessary for the proper administration
of the Plan and to make whatever determinations and interpretations in
connection with the Plan it deems necessary or advisable with respect to
Participants. All determinations and interpretations made by the Committee shall
be binding and conclusive on such Participants and on their legal
representatives and beneficiaries. In determining the number of shares of Common
Stock with respect to which Options and Stock Grants are exercisable, fractional
shares will be rounded up to the nearest whole number if the fraction is 0.5 or
higher, and down if it is less.

      3.2 Limitation on Liability. No member of the Committee shall be liable
for any action or determination made in good faith with respect to the Plan, any
rule, regulation or procedure adopted by it pursuant thereto or any Awards
granted under it. If a member of the Committee is a party or is threatened to be
made a party to any threatened, pending or contemplated action, suit or
proceeding, whether civil, criminal, administrative or investigative, by reason
of anything done or not done by him or her in such capacity under or with
respect to the Plan, the Company shall indemnify such member against expenses
(including attorneys' fees), judgments, fines and amounts paid in settlement
actually and reasonably incurred by him or her in connection with such action,
suit or proceeding if he or she acted in good faith and in a manner reasonably
believed to be in the best interests of the Company and Affiliates and, with
respect to any criminal proceeding, had no reasonable cause to believe his or
her conduct was unlawful.

4. TYPES OF AWARDS.

      Awards under the Plan may be granted in any one or a combination of:

      (a) Stock Grants;

      (b) Non-statutory Stock Options;

                                      -4-
<PAGE>

      (c) Incentive Stock Options; and

      (d) Stock appreciation rights,

as defined in Sections 7, 8, 9 and 10 of the Plan.

      Subject to the other terms and conditions set forth herein, the Committee
shall, in its discretion, determine from time to time which Participants will be
granted Awards under the Plan, the number of shares of Common Stock subject to
each Award, whether each Option will be an Incentive Stock Option or a
Non-statutory Stock Option (except that Incentive Stock Options may only be
awarded to those persons described in Code Section 422(a)(2) as eligible
recipients of incentive stock options), the exercise price of an Option, and the
restrictions, if any, which will be applicable to each Stock Grant or Stock
Appreciation Right. In making all such determinations, the Committee shall take
into account the duties, responsibilities and performance of each respective
Participant, his or her present and potential contributions to the growth and
success of the Company, his or her compensation, and such other factors as the
Committee shall deem relevant to accomplishing the purposes of the Plan.

      No Participant shall have any voting or dividend rights or other rights of
a shareholder in respect of any shares of Common Stock covered by an Option
prior to the time that the Participant's name is recorded on the Company's
shareholder records as the holder of record of such shares acquired pursuant to
the exercise of an Option.

5. STOCK SUBJECT TO THE PLAN.

      Subject to adjustment as provided in Section 18, the maximum number of
shares reserved for Stock Grants and for purchase pursuant to the exercise of
Options under the Plan is seven million one hundred ninety-seven thousand two
hundred forty-five (7,197,245) shares, all of which may be awarded in the form
of Incentive Stock Options. Of the total shares of Common Stock available under
the Plan, Awards with respect to no more than one million (1,000,000) shares of
Common Stock shall be issued to any Participant in any calendar year.

      The shares of Common Stock subject to the Plan may be either authorized
but unissued shares or shares previously issued and reacquired by the Company.
To the extent that Options are granted and Stock Grants are made under the Plan,
the shares underlying such Options and Stock Grants will be unavailable for
future grants under the Plan except that, to the extent that the Options or
Stock Grants granted under the Plan are forfeited, terminate, expire or are
canceled without having been exercised, new Awards may be made with respect to
such shares.

                                      -5-
<PAGE>

6. ELIGIBILITY.

      Employees and others who are not employees, including non-Employee
independent contractors, consultants, directors and officers, of the Company or
Affiliates shall be eligible to receive Stock Grants, Stock Appreciation Rights
and Non-statutory Stock Options under the Plan. Employees (including officers
and directors who are also Employees) of the Company or any Subsidiary shall be
the only Participants eligible to receive Incentive Stock Options.

7. STOCK GRANTS.

      7.1 Eligible Recipients. The Committee may, from time to time, grant Stock
Grants to Participants eligible to receive Stock Grants as set forth in Section
6.

      7.2 General Terms. Except to the extent provided herein, each Stock Grant
may be accompanied by such conditions, restrictions, and contingencies, or may
be made without any, as may be determined in the discretion of the Committee as
provided in the Award. Such conditions, restrictions, and contingencies may
include, without limitation, requirements that the Participant remain in the
continuous employment or service of the Company or Affiliates for a specified
period of time, that the Participant meet designated individual performance
goals, or that the Company, an Affiliate, or a combination thereof, meet
designated performance goals.

      7.3 Issuance Procedures. A stock certificate representing the number of
shares of Common Stock covered by a Stock Grant shall be registered in the
Participant's name and may be held by the Participant; provided however, unless
the Committee provides otherwise in the specified Award or otherwise consents in
writing, if a Stock Grant is subject to certain restrictions, the shares of
Common Stock covered by such Stock Grant shall be registered in the
Participant's name and held in custody by the Company. Unless the Committee
provides otherwise in the specified Award or otherwise consents in writing, a
Participant who has been awarded a Stock Grant shall have the rights and
privileges of a shareholder of the Company as to the shares of Common Stock
covered by such Stock Grant, including the right to receive dividends and the
right to vote such shares, except that the dividends shall be accumulated in an
escrow account by the Company and shall not be paid to the Participant unless
and until the expiration or satisfaction of any restrictions or performance
requirements applicable to Common Stock with respect to which the dividend is
paid. None of the shares of Common Stock covered by the Stock Grant may be sold,
transferred, assigned, pledged or otherwise encumbered or disposed of prior to
the expiration or satisfaction of any applicable restrictions or performance
requirements. Unless the Committee provides otherwise in the specified Award or
otherwise consents in writing, all of the shares of Common Stock covered by a
Stock Grant shall be forfeited and all rights of a Participant who has been
awarded such Stock Grant to such shares shall terminate without further
obligation on the part of the Company in the event that any applicable
restrictions or performance requirements do not expire or are not satisfied.
Upon forfeiture of shares of Common Stock, such shares shall be transferred to
the Company without further action by the Participant. Upon the expiration or
satisfaction of any applicable restrictions, whether in the ordinary course or
under circumstances set forth in Section 7.4, certificates evidencing shares of
Common Stock subject to the related Stock Grant shall be delivered to the
Participant, or the Participant's beneficiary or estate, as the case may be,
free of such restrictions and applicable restrictive legends.

                                      -6-
<PAGE>

      7.4 Acceleration. If the Committee so provides in the specified Award or
otherwise consents in writing, the vesting and the lifting of conditions,
restrictions and contingencies in whole or in part may be accelerated for any
reason or upon the occurrence of any event.

8. NON-STATUTORY STOCK OPTIONS.

      8.1 Grants to Participants. The Committee may, from time to time, grant
Non-statutory Stock Options to Participants eligible to receive Non-Statutory
Stock Options as set forth in Section 6.

      8.2 Terms of Non-Statutory Options. Non-statutory Stock Options granted
under the Plan are subject to the following terms and conditions:

      (a) Price. The purchase price per share of Common Stock deliverable upon
the exercise of each Non-statutory Stock Option shall be determined on the date
the Option is granted as specified in the Award. Such per share purchase price
shall be equal to at least the Fair Market Value on the Date of Grant, unless
the Committee provides otherwise in the specified Award, in which case the terms
of such Non-statutory Stock Option shall comply with the requirements of Code
Section 409A to avoid the additional taxes referenced therein. Unless the
Committee provides otherwise in the specified Award or consents in writing,
shares may be purchased pursuant to a Non-statutory Stock Option only upon full
payment of the purchase price in cash. If the Committee so provides in the
specified Award or otherwise consents in writing, payment of the purchase price
may be made, in whole or in part, through the exchange of previously held shares
of Common Stock (or through the withholding of shares of Common Stock to be
received by the Participant upon exercise of the Non-statutory Stock Option) at
the Fair Market Value of such shares on the date of surrender. The Participant
may make deemed or constructive transfers of shares in lieu of actual transfer
and physical delivery of certificates.

      (b) Option Period Generally. The Committee shall determine the Option
Period during which each Non-statutory Stock Option may be exercised as set
forth in the Award.

      (c) Installments. The Committee shall determine the date on which each
Non-statutory Stock Option may be exercised as set forth in the Award and may
provide that a Non-statutory Stock Option is exercisable in installments. If the
Committee so provides in the specified Award or otherwise consents in writing,
the shares comprising each installment may be purchased in whole or in part at
any time after such installment becomes purchasable.

      (d) Acceleration. If the Committee so provides in the specified Award or
otherwise consents in writing, the vesting and the earliest time during which
any Non-statutory Stock Option may be exercised in whole or in part may be
accelerated for any set reason or upon the occurrence of any set event.

                                      -7-
<PAGE>

      (e) Extension by Committee. The Committee, at the time of grant as set
forth in the Award or anytime thereafter, may extend the Option Period of a
Non-statutory Stock Option for a period not exceeding five (5) years following a
Participant's termination of service.

      (f) Termination of Service.

            (i) Termination for Cause. Unless the Committee provides otherwise
in the specified Award or otherwise consents in writing, in the event of
Termination for Cause, all rights under the Participant's Non-statutory Stock
Options shall expire upon termination.

            (ii) Termination for Death or Disability. Unless the Committee
provides otherwise in the specified Award or otherwise consents in writing, in
the event of termination of a Participant's employment with or provision of
service to the Company and all Affiliates because of the death or Disability of
such Participant, all Non-statutory Stock Options held by the Participant, shall
be exercisable only as to those shares that were immediately purchasable at such
time by the Participant or the Participant's legal representatives or
beneficiaries and only for up to ninety (90) days following the date of the
termination.

            (iii) Termination for Other Reasons. Unless the Committee provides
otherwise in the specified Award or otherwise consents in writing, upon the
termination of a Participant's employment with or provision of service to the
Company and all Affiliates because of any reason other than death, Disability or
Termination for Cause, the Participant's Non-statutory Stock Options shall be
exercisable only as to those shares which were immediately purchasable by the
Participant at the date of termination and only for up to thirty (30) days
following termination.

      (g) Other Conditions, Restrictions, Contingencies. Each Award may specify
other conditions, restrictions and contingencies to which the Non-statutory
Stock Option is subject as deemed appropriate in the sole discretion of the
Committee.

      (h) Change in Control. If the Committee so provides in the specified
Award, upon fifteen (15) days advance written notice by the Company to the
Participant of the Company's intent to consummate a Change in Control, the
Company shall have the right, exercisable in the Company's sole discretion, to
require that the Participant exercise the Participant's right to purchase all
the shares that the Participant has a vested right to purchase under an existing
Award within such fifteen-day period. If the Participant fails to exercise such
right as to all the shares that the Participant has a vested right to purchase
within such fifteen-day period, then to the extent not so exercised, all
remaining purchase rights under the outstanding Options (regardless of their
vested status) shall be immediately forfeited to the Company.

      8.3 Withholding. As a condition to the exercise of any Non-statutory Stock
Option granted hereunder, the Participant shall make such arrangements as the
Committee may require for the satisfaction of any federal, state or local
withholding tax obligations that may arise in connection with such exercise.
Such arrangements may include the deduction of any such required withholding
from any payments due or to become due to the Participant.

                                      -8-
<PAGE>

      8.4 Reload Option. If the Committee permits, and a Participant pays for
all or any portion of the aggregate Non-statutory Stock Option exercise price
with shares of Common Stock or withholding a number of shares upon exercise of
an Non-statutory Stock Option, the Committee may grant a reload Non-statutory
Stock Option. Such reload Non-statutory Stock Option may grant the Participant a
new Non-statutory Stock Option for the number of shares of Common Stock equal to
the number tendered as consideration for the purchase of shares under the former
Non-statutory Stock Option under terms satisfactory to the Committee.

9. INCENTIVE STOCK OPTIONS.

      9.1 Grants to Employees. The Committee may, from time to time, grant
Incentive Stock Options to Participants eligible to receive Incentive Stock
Options as set forth in Section 6.

      9.2 Terms of Incentive Stock Options. Incentive Stock Options granted
under the Plan are subject to the following terms and conditions:

      (a) Price. The purchase price per share of Common Stock deliverable upon
the exercise of each Incentive Stock Option shall be not less than 100% of the
Fair Market Value on the Date of Grant. However, if a Participant owns Common
Stock representing more than 10% of the total combined voting power of all
classes of Common Stock of the Company (or under Section 425(d) of the Code is
deemed to own Common Stock representing more than 10% of the total combined
voting power of all such classes of Common Stock), the purchase price per share
of Common Stock deliverable upon the exercise of each Incentive Stock Option
shall not be less than 110% of the Fair Market Value on the Date of Grant.
Unless the Committee provides otherwise in the specified Award or consents in
writing, shares may be purchased pursuant to an Incentive Stock Option only upon
full payment of the purchase price in cash. If the Committee so provides in the
specified Award or otherwise consents in writing, payment of the purchase price
may be made, in whole or in part, through the exchange of previously held shares
of Common Stock (or through the withholding of shares of Common Stock to be
received by the Participant upon exercise of the Incentive Stock Option) at the
Fair Market Value of such shares on the date of surrender. The Participant may
make deemed or constructive transfers of shares in lieu of actual transfer and
physical delivery of certificates.

      (b) Option Period Generally. The Committee shall determine the Option
Period during which each Incentive Stock Option may be exercised as set forth in
the Award, but in no event shall an Incentive Stock Option be exercisable in
whole or in part more than ten years from the Date of Grant. If at the time an
Incentive Stock Option is granted to an Employee, the Employee owns Common Stock
representing more than 10% of the total combined voting power of the Company
(or, under Section 425(d) of the Code, is deemed to own Common Stock
representing more than 10% of the total combined voting power of all such
classes of Common Stock), the Incentive Stock Option granted to such Employee
shall not be exercisable after the expiration of five years from the Date of
Grant.

                                      -9-
<PAGE>

      (c) Transfer Restrictions. No Incentive Stock Option granted under the
Plan is transferable, except by will or the laws of descent and distribution.
During the lifetime of the Participant granted an Incentive Stock Option, such
Participant is the only one who may exercise such Incentive Stock Option.

      (d) Installments. The Committee shall determine the date on which each
Incentive Stock Option shall become exercisable as set forth in the Award and
may provide that an Incentive Stock Option is exercisable in installments. If
the Committee so provides in the specified Award or otherwise consents in
writing, the shares comprising each installment may be purchased in whole or in
part at any time after such installment becomes purchasable, provided that the
amount able to be first exercised in a given year is consistent with the terms
of Section 422 of the Code.

      (e) Acceleration. If the Committee so provides in the specified Award or
otherwise consents in writing, the vesting and the earliest time during which
any Incentive Stock Option may be exercised in whole or in part may be
accelerated for any set reason or upon the occurrence of any set event, provided
that it is consistent with the terms of Section 422 of the Code.

      (f) Extension by Committee. The Committee, at the time of grant as set
forth in the Award or anytime thereafter, may extend the Option Period of an
Incentive Stock Option for a period not exceeding five (5) years following a
Participant's termination of service; provided, however, that such Option is not
eligible for treatment as an incentive stock option in the event such Option is
exercised more than three (3) months following the date of the Participant's
cessation of employment. Notwithstanding anything to the contrary contained
herein, in no event shall the Option Period extend beyond the expiration of the
Incentive Stock Option term.

      (g) Termination of Service.

            (i) Termination for Cause. Unless the Committee provides otherwise
in the specified Award or otherwise consents in writing, in the event of
Termination for Cause, all rights under the Participant's Incentive Stock
Options shall expire upon termination.

            (ii) Termination for Death or Disability. If the Committee so
provides in the specified Award or otherwise consents in writing, in the event
of a termination of an Employee's employment with the Company and all its
Subsidiaries because of the death or Disability of such Employee, all Incentive
Stock Options held by such Participant shall be exercisable only as to those
shares that were immediately purchasable at such time by the Participant or the
Participant's legal representatives or beneficiaries and only up to ninety (90)
days following the date of the termination.

            (iii) Termination for Other Reasons. Unless the Committee provides
otherwise in the specified Award or otherwise consents in writing, upon the
termination of an Employee's employment with the Company and all its
Subsidiaries because of any reason other than death, Disability or Termination
for Cause, the Incentive Stock Options shall be exercisable only as to those
shares which were immediately purchasable by the Participant at the date of
termination and only for up to thirty (30) days following termination.

                                      -10-
<PAGE>

      (h) Other Conditions, Restrictions, Contingencies. Each Award may specify
other conditions, restrictions and contingencies to which the Incentive Stock
Option is subject as deemed appropriate in the sole discretion of the Committee.

      (i) Change in Control. If the Committee so provides in the specified
Award, upon fifteen (15) days advance written notice by the Company to the
Participant of the Company's intent to consummate a Change in Control, the
Company shall have the right, exercisable in the Company's sole discretion, to
require that the Participant exercise the Participant's right to purchase all
the shares that the Participant has a vested right to purchase under an existing
Award within such fifteen-day period. If the Participant fails to exercise such
right as to all the shares that the Participant has a vested right to purchase
within such fifteen-day period, then to the extent not so exercised, all
remaining purchase rights under the outstanding Options (regardless of their
vested status) shall be immediately forfeited to the Company.

      9.3 Compliance with Code. The Options granted under this Section 9 of the
Plan are intended to qualify as incentive stock options within the meaning of
Section 422 of the Code, but the Company makes no warranty as to the
qualification of any Option as an incentive stock option within the meaning of
Section 422 of the Code.

      9.4 Amounts of Options. Incentive Stock Options may be granted to any
Employee in such amounts as determined by the Committee. In the case of an
option intended to qualify as an Incentive Stock Option, the aggregate Fair
Market Value (determined as of the time the Option is granted) with respect to
which Incentive Stock Options granted are exercisable for the first time by the
Participant during any calendar year (under all plans of the Participant's
employer corporation and its parent and Subsidiaries) shall not exceed $100,000.
The provisions of this Section 9.4 shall be construed and applied in accordance
with Section 422(d) of the Code and the regulations, if any, promulgated
thereunder. To the extent an award under this Section 9 exceeds this $100,000
limit, the portion of the award in excess of such limit shall be deemed a
Non-statutory Stock Option.

10. STOCK APPRECIATION RIGHTS.

      The Committee is hereby authorized to grant Stock Appreciation Rights to
Participants, which Stock Appreciation Rights are subject to the terms of the
Plan and any applicable Award. A Stock Appreciation Right granted under the Plan
shall confer on the holder thereof a right to receive upon exercise thereof the
excess of (i) the Fair Market Value on the date of exercise (or, if the
Committee shall so determine, at any time during a specified period before or
after the date of exercise) over (ii) the grant price of the Stock Appreciation
Right as specified by the Committee, which price shall not be less than 100% of

                                      -11-
<PAGE>

the Fair Market Value on the Date of Grant of the Stock Appreciation Right.
Subject to the terms of the Plan and any applicable Award, the grant price,
term, methods of exercise, dates of exercise, methods of settlement and any
other terms and conditions of any Stock Appreciation Right shall be as
determined by the Committee. The Committee may impose such conditions or
restrictions on the exercise of any Stock Appreciation Right as it may deem
appropriate.

11. BIOFORCE OPTIONS ISSUED PRIOR TO MERGER.

      Any holder of any option issued pursuant to the 2000 Plan or the 2003
Plan, which, pursuant to the Merger Agreement or the Plan, is converted into an
option to purchase shares of Common Stock of the Company, shall be deemed to
have been granted a Non-Statutory Stock Option or an Incentive Stock Option, as
appropriate, subject to the Plan. In the conversion, the exercise price and
number of options shall be adjusted so that there is no material change in the
value of any Option or Award. Nothing in the conversion shall increase any
Participant's rights under an Award that would cause the Plan to be subject to
the additional taxes referenced in Code Section 409A. It is intended that any
Incentive Stock Options issued pursuant to the 2000 Plan or the 2003 Plan are
treated as described in Code Section 424(a). Therefore, to the extent that the
Plan gives a holder of such Incentive Stock Option any additional benefits that
such holder did not have under the applicable former plan, the Plan shall be
interpreted so as to exclude such holder from the benefit of such additional
benefits in order to prevent the holder's Incentive Stock Options from being
treated as having been "modified" within the meaning of Code Section 424(h)(3).

12. METHOD OF EXERCISE.

      Each Option shall be exercised pursuant to the terms of the Plan by giving
written notice to the Company at its principal place of business. The form of
such notice shall be substantially similar to the exercise notice contained in
Exhibit A (the "Exercise Notice"). No Option granted under the Plan may be
exercised or Award granted unless, at the time of exercise or award, Common
Stock to be issued qualifies for exemption from, or is registered pursuant to,
applicable federal and state securities laws. In the event there shall not then
be on file with the SEC under the Securities Act of 1933, as amended, an
effective registration statement, including a prospectus relating to the shares
subject to the Award, the Committee may require the Participant to execute and
deliver to the Company prior to receipt by such Participant of any such shares
under the Plan, an investment letter in form and substance satisfactory to the
Company.

13. RIGHTS OF A SHAREHOLDER; LIMITED TRANSFERABILITY.

      No Participant shall have any rights as a shareholder with respect to any
shares covered by an Option until the date of issuance of a stock certificate
for such shares. Nothing in the Plan or in any Award granted confers on any
person any right to continue in the employ of the Company or Affiliates or to
continue as a director, officer, consultant or independent contractor of the
Company or Affiliates or interferes in any way with the right of the Company or
Affiliates to terminate a Participant's employment or services at any time.

                                      -12-
<PAGE>

      Except as otherwise provided in an Award or with the consent of the
Committee, Options granted hereunder may be exercised only during a
Participant's lifetime by the Participant, the Participant's guardian or legal
representative or by a permissible transferee. Except as otherwise provided, (i)
Options may be transferred by Participants pursuant to the laws of descent and
distribution upon a Participant's death and (ii) during a Participant's
lifetime, Non-statutory Stock Options may be transferred by Participants to
members of their immediate family, trusts for the benefit of members of their
immediate family, and charitable institutions ("permissible transferee") to the
extent permitted under Section 16 of the Exchange Act and subject to federal and
state securities laws. The term "immediate family" shall mean any child,
stepchild, grandchild, parent, stepparent, grandparent, spouse, sibling,
mother-in-law, father-in-law, son-in-law, sister-in-law, or brother-in-law and
shall include adoptive relationships.

      The Committee shall have the authority to establish rules and regulations
specifically governing the transfer of Stock Appreciation Rights, Options and
restricted Stock Grants granted under the Plan as it deems necessary and
advisable.

14. AGREEMENT WITH GRANTEES.

      Each Award will be evidenced by a written agreement, executed by the
Participant and the Company or Affiliates, which describes the conditions for
receiving such Award including the date of Award, the purchase price, if any,
applicable periods, and any other terms and conditions as may be either required
by applicable securities law or that are not inconsistent with the Plan, or
both.

15. RESTRICTIONS ON SHARES.

      The Committee may require before any shares of Common Stock are issued
pursuant to the Plan that the Participant agrees to subject the shares to such
holding periods and transfer restrictions as are, in the opinion of counsel,
required in order for the issuance of the shares to comply with the requirements
of state or federal law.

16. PERFORMANCE BASED COMPENSATION.

      16.1 In General. All Awards of Stock Appreciation Rights and Non-statutory
Stock Options issued to a Covered Employee that are intended to be performance
based compensation within the meaning of the Code Section 162(m)(4)(C) shall
conform to the requirements of Code Section 162(m)(4)(C) and the regulations
thereunder.

      With respect to Awards that are intended to qualify as "performance based"
within the meaning of Code Section 162(m)(4)(C), the Committee shall comply with
the requirements of Code Section 162(m)(4)(C), including but not limited to (i)

                                      -13-
<PAGE>

establishing in writing the applicable objective performance goals and all
related terms no later than 90 days after the commencement of the period of
service to which the performance goals relate (or such earlier or later date as
may be the applicable deadline for compensation payable hereunder to qualify as
"performance based" within the meaning of Code Section 162(m)(4)(C)), and (ii)
designating the Awards that are to qualify as "performance based" within the
meaning of Code Section 162(m)(4)(C). After the period over which the
performance goals are measured, the Committee shall certify that such
performance goals are satisfied and may adjust the Award downward but not
upward.

      16.2 Performance Goals. Unless the Committee provides otherwise in the
specified Award, the performance goals for purposes of grants that are intended
to qualify as performance based compensation within the meaning of Code Section
162(m)(4)(C) shall be based on one or more of the following measures:

            (a)   Earnings per share;

            (b)   Net income (before or after taxes);

            (c)   Net income from continuing operations;

            (d)   Return measures (including, but not limited to, return on
                  assets, equity, capital or investment);

            (e)   Cash flow (including, but not limited to, operating cash flow
                  and free cash flow);

            (f)   Cash flow return on investment;

            (g)   Earnings before or after taxes, interest, depreciation and/or
                  amortization;

            (h)   Internal rate of return or increase in net present value;

            (i)   Dividend payments;

            (j)   Gross revenues;

            (k)   Gross margins; or

            (l)   Internal measures such as achieving a diverse workforce.

17. DESIGNATION OF BENEFICIARY.

      A Participant may, with the consent of the Committee, designate a person
or persons to receive, in the event of death, any shares to which the
Participant would then be entitled pursuant to an Award. Such designation will
be made upon forms supplied by and delivered to the Company and may be revoked
in writing. If a Participant fails effectively to designate a beneficiary, then
the Participant's estate will be deemed to be the beneficiary.

                                      -14-
<PAGE>

18. DILUTION AND OTHER ADJUSTMENTS.

      In the event of any change in the outstanding shares of Common Stock of
the Company by reason of any stock dividend or split, recapitalization, merger,
consolidation, spin-off, reorganization, combination or exchange of shares, or
other similar corporate change, or other increase or decrease in such shares
without receipt or payment of consideration by the Company, the Committee will
make such adjustments to previously granted Awards, to prevent dilution or
enlargement of the rights of the Participant, including any or all of the
following:

      (a) adjustments in the aggregate number or kind of shares of Common Stock
that may be awarded under the Plan;

      (b) adjustments in the aggregate number or kind of shares of Common Stock
covered by Awards already made under the Plan; or

      (c) adjustments in the purchase price of outstanding Options.

      No such adjustments may, however, materially change the value of benefits
available to a Participant under a previously granted Award.

19. WITHHOLDING.

      There may be deducted from each distribution of cash or Common Stock or
both under the Plan the amount of tax required by any governmental authority to
be withheld.

20. TERMINATION AND AMENDMENT OF THE PLAN.

      The Board of Directors may at any time, and from time to time, terminate,
modify or amend the Plan in any respect. No Awards under the Plan shall be
granted more than ten (10) years after the Effective Date of the Plan.

      The Board may determine that shareholder approval of any amendment to the
Plan may be advisable for any reason, including but not limited to, for the
purpose of obtaining or retaining any statutory or regulatory benefits under
tax, securities or other laws or satisfying applicable stock exchange listing
requirements.

                                      -15-
<PAGE>

      Such termination, modification or amendment may not affect the rights of a
Participant under an outstanding Award, except the Board may, prior to a Change
in Control, terminate the Plan in connection with a Change in Control and make a
cash payment to all Participants with respect to Options that are vested or not
vested, or both, up to an amount equal to the difference between the Fair Market
Value of the Common Stock on the date of the Change in Control and the exercise
price per share of such Options on the Date of Grant.

21. EFFECTIVE DATE OF PLAN.

      Subject to the approval of the stockholders of the Company, the effective
date of the Plan shall be as of May 25, 2007 (the "Effective Date"). The Plan
shall remain in effect subject to the terms hereof, until the earlier of the
following: (1) May 24, 2017; (2) termination of the Plan by the Board of
Directors; or (3) the purchase of all shares to be delivered pursuant to the
Plan.

22. UNCERTIFIED SHARES.

      To the extent the Plan provides for the issuance of stock certificates
with respect to Common Stock, the Company may, in lieu thereof, record the
shares on a non-certified basis on a book entry account maintained by the
Company's transfer agent.

23. APPLICABLE LAW.

      The Plan will be administered in accordance with the laws of the State of
Nevada, unless the Company changes its state of incorporation, in which case the
laws of its state of incorporation, to the extent not preempted by Federal law
as now or hereafter in effect.

24. COMPLIANCE WITH SECTION 16.

      With respect to persons subject to Section 16 of the Exchange Act,
transactions under the Plan are intended to comply with all applicable
conditions of Rule 16b-3 or its successors under the Exchange Act. To the extent
any provision of the Plan or action by the Committee fails to so comply, it
shall be deemed null and void, to the extent permitted by law and deemed
advisable by the Committee.

May 25, 2007                                             /s/ Eric Henderson
------------                                             ------------------
(Date Adopted)                                           Eric Henderson
                                                         Chief Executive Officer

-----------------------------                            -----------------------
Date Approved by Shareholders                                  Secretary

                                      -16-
<PAGE>

                                    EXHIBIT A

                      BIOFORCE NANOSCIENCES HOLDINGS, INC.

                 AMENDED AND RESTATED 2006 EQUITY INCENTIVE PLAN

                                 EXERCISE NOTICE

BioForce Nanosciences Holdings, Inc.
1615 Golden Aspen Drive, Suite 101
Ames, IA 50010

Attn: Amended and Restated 2006 Equity Incentive Plan Committee

      1. Exercise of Option. Effective as of today, ________________, _________,
20_____, the undersigned ("Option Holder") hereby elects to exercise his or her
option to purchase __________ shares of Common Stock (the "Shares") of BioForce
Nanosciences Holdings, Inc. (the "Company"), under and pursuant to the Company's
Amended and Restated 2006 Equity Incentive Plan (the "Plan") and the Stock
Option Agreement dated ___________, 20___, (the "Option Agreement"), of which
___________ shares are pursuant to the exercise of incentive stock options and
__________ shares are pursuant to the exercise of nonqualified stock options.

      2. Delivery of Payment/Withholding. Option Holder herewith delivers to the
Company the full purchase price of the Shares and any applicable withholding
(unless other arrangements have been made for such withholding), as set forth in
the Option Agreement.

      3. Rights as Stockholder. Until the issuance of the Shares (as evidenced
by the appropriate entry on the books of the Company or of a duly authorized
transfer agent of the Company), no right to vote or receive dividends or any
other rights as a stockholder shall exist due to Option Holder's exercise of the
Option. The certificate evidencing the Shares shall be issued to Option Holder
as soon as practicable after the Option is exercised. No adjustment shall be
made for a dividend or other right for which the record date is prior to the
date of issuance except as provided in the Plan.

      4. Tax Consultation. Option Holder understands that Option Holder may
suffer adverse tax consequences as a result of Option Holder's purchase or
disposition of the Shares. Option Holder represents that Option Holder has
consulted with any tax consultants Option Holder deems advisable in connection
with the purchase or disposition of the Shares and that Option Holder is not
relying on the Company or any of its advisors or consultants for any tax advice.

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      5. Entire Agreement. Option Holder herewith delivers the documents
reasonably required by the Company including, without limitation, an Investment
Representation Statement, if requested. These documents, together with the Plan
and Option Agreement constitute the entire agreement of the parties with respect
to the subject matter hereof and supersede in their entirety all prior
undertakings and agreements of the Company and Option Holder with respect to the
subject matter hereof.

Submitted by:                               Accepted by:

OPTION HOLDER                               BIOFORCE NANOSCIENCES HOLDINGS, INC.

                                            By:
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Signature

                                            Title:
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Print Name

                                            ------------------------------------
                                            Date Received

Address:

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