Document:

Exhibit
10.5

     

    TEMPO
BANK

    EMPLOYEE
SEVERANCE COMPENSATION PLAN

    

    
      	
              A.

            	
              Purpose.

            

    

    

    The
primary purpose of the Tempo Bank Employee Severance Compensation Plan (the
“Plan”) is to ensure the successful continuation of the business of Tempo Bank
(the “Bank”) and the fair and equitable treatment of the Bank’s employees
following a Change in Control (as defined below).

    

    B.           Covered
Employees.

    

    Subject
to paragraph C below, any employee of the Bank with at least one year of service
as of his or her termination date shall be eligible to receive a Change in
Control Severance Benefit (as defined below) if, within the period beginning on
the effective date of a Change in Control and ending on the first anniversary of
such date, (i) the employee’s employment with the Bank is involuntarily
terminated or (ii) the employee terminates employment with the Bank voluntarily
after being offered continued employment in a position that is not a Comparable
Position (as defined below).

    

    
      	
              C.

            	
              Limitations on
      Eligibility for Change in Control Severance Benefits or Management
      Restructuring Benefits.

            

    

    

    
      	
               
      

            	
              (1)

            	
              No
      employee shall be eligible for a Change in Control Severance Benefit if
      (a) his or her employment is terminated for “Cause,” (b) he or she is
      offered a Comparable Position and declines to accept such position, or (c)
      the employee is, at the time of termination of employment, a party to an
      individual employment agreement or change in control agreement with the
      Bank and/or Sugar Creek Financial Corp. (the
  “Company”).

            

    

    

    
      	
               
      

            	
              (2)

            	
              For
      purposes of this Plan, a termination of employment for “Cause” shall
      include termination because of the employee's personal dishonesty,
      incompetence, willful misconduct, breach of fiduciary duty involving
      personal profit, intentional failure to perform stated duties, willful
      violation of any law, rule, or regulation (other than traffic violations
      or similar offenses) or final cease-and-desist order, or material breach
      of any provision of the Plan.

            

    

    

    
      	
               
      

            	
              (3)

            	
              For
      purposes of this Plan, a “Comparable Position” shall mean a position that
      would (a) provide the employee with base compensation and benefits
      that are comparable in the aggregate to those provided to the employee
      prior to the Change in Control; (b) provide the employee with an
      opportunity for variable bonus compensation that is comparable to the
      opportunity provided to the employee prior to the Change in Control; (c)
      be in a location that would not require the employee to increase his or
      her daily one way commuting distance by more than thirty-five (35) miles
      as compared to the employee’s commuting distance immediately prior to the
      Change in Control; and (d) have job skill requirements and duties that are
      comparable to the requirements and duties of the position held by the
      employee prior to the Change in
Control.

            

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    D.           Definitions of Change in
Control.

    

    For
purposes of this Plan, “Change in Control” means the occurrence of any one of
the following events:

    

    
      	
               
      

            	
              (1)

            	
              Merger:  The
      Company merges into or consolidates with another corporation, or merges
      another corporation into the Company, and as a result, less than a
      majority of the combined voting power of the resulting corporation
      immediately after the merger or consolidation is held by persons who were
      stockholders of the Company immediately before the merger or
      consolidation.

            

    

    

    
      	
               
      

            	
              (2)

            	
              Acquisition of
      Significant Share Ownership:   A report on Schedule
      13D or another form or schedule (other than Schedule 13G) is filed or
      required to be filed under Sections 13(d) or 14(d) of the Securities
      Exchange Act of 1934, if the schedule discloses that the filing person or
      persons acting in concert has or have become the beneficial owner(s) of
      25% or more of a class of the Company’s voting securities, but this clause
      (2) shall not apply to beneficial ownership of Company voting shares held
      in a fiduciary capacity by an entity of which the Company directly or
      indirectly beneficially owns 50% or more of its outstanding voting
      securities.

            

    

    

    
      	
               
      

            	
              (3)

            	
              Change in Board
      Composition:  During any period of two consecutive years,
      individuals who constitute the Company’s Board of Directors at the
      beginning of the two-year period cease for any reason to constitute at
      least a majority of the Company’s Board of Directors; provided, however,
      that for purposes of this clause (3), each director who is first elected
      by the board (or first nominated by the board for election by the
      stockholders) by a vote of at least two-thirds (2⁄3) of the directors who
      were directors at the beginning of the two-year period shall be deemed to
      have also been a director at the beginning of such period;
    or

            

    

    

    
      	
               
      

            	
              (4)

            	
              Sale of
      Assets:  The Company or the Bank sells to a third party
      all or substantially all of its
assets.

            

    

    

    Notwithstanding
anything in this Plan to the contrary, in no event shall the conversion of the
Bank’s mutual holding company parent, Sugar Creek MHC, from mutual to stock
form, i.e., a “second step conversion,” constitute a Change in Control for
purposes of this Plan.

    

    E.           Determination of the Change
in Control Severance Benefit.

    

    
      	
               
      

            	
              (1)

            	
              The
      Change in Control Severance Benefit payable to an eligible employee under
      this Plan shall be determined under the following
  schedule:

            

    

    

    
      	
               
      

            	
              (a)

            	
              An
      eligible employee who does not receive a benefit pursuant to paragraph (b)
      of this Section shall receive a Change in Control Severance Benefit equal
      to the product of (i) the employee’s years of service from his or her hire
      date (including partial years) through the termination date and (ii) an
      amount equal to two (2) weeks of the employee’s Base Compensation (as
      defined below).  A “year of service” shall mean each 12-month
      period of service following an employee’s hire date determined without
      regard the number of hours worked during such period(s).  The
      minimum payment to an eligible employee under this paragraph shall be an
      amount equal to two (2) weeks of Base Compensation and the maximum payment
      to an eligible employee shall be an amount equal to six (6) months of Base
      Compensation.

            

    

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

    
      	
               
      

            	
              (b)

            	
              An
      eligible employee-officer designated by the Board of Directors prior to a
      Change in Control shall receive a Change in Control Severance Benefit
      equal to twelve (12) months of Base
  Compensation.

            

    

    

    
      	
               
      

            	
              (c)

            	
              The
      Change in Control Severance Benefit shall be paid in a lump sum not later
      than five (5) business days after the date of the employee’s termination
      of employment.

            

    

    

    
      	
               
      

            	
              (2)

            	
              For
      purpose of determinations under this paragraph E, “Base Compensation”
      shall mean:

            

    

    

    
      	
               
      

            	
              (a)

            	
              For
      salaried employees, the employee’s annual base salary at the rate in
      effect on his or her termination date or, if greater, the rate in effect
      on the date immediately preceding the Change in
  Control.

            

    

    

    
      	
               
      

            	
              (b)

            	
              For
      employees whose compensation is determined in whole or in part on the
      basis of commission income, the employee’s base salary at termination (or,
      if greater, the employee’s base salary on the date immediately preceding
      the effective date of the Change in Control), if any, plus the commissions
      earned by the employee in the twelve (12) full calendar months preceding
      his or her termination date (or, if greater, the commissions earned in the
      twelve (12) full calendar months immediately preceding the effective date
      of the Change in Control).

            

    

    

    
      	
               
      

            	
              (c)

            	
              For
      hourly employees, the employee’s total hourly wages for the twelve (12)
      full calendar months preceding his or her termination date or, if greater,
      the twelve (12) full calendar months preceding the effective date of the
      Change in Control.

            

    

    

    F.           Withholding.

    

    All
payments will be subject to customary withholding for federal, state and local
tax purposes.

    

    G.           Parachute
Payment.

    

    Notwithstanding anything in this Plan
to the contrary, if a Change in Control Severance Benefit to an employee who is
a “Disqualified Individual” shall be in an amount which includes an “Excess
Parachute Payment,” taking into account payments under this Plan and otherwise,
the benefit payable under this Plan shall be reduced to the maximum amount which
does not include an Excess Parachute Payment.  The terms “Disqualified
Individual” and “Excess Parachute Payment” shall have the same meanings as under
Section 280G of the Internal Revenue Code of 1986, as amended, or any successor
provision thereto.

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

    H.           Administration.

    

    The Plan
is administered by the Board, which shall have the discretion to interpret the
terms of the Plan and to make all determinations about eligibility and payment
of benefits.  All decisions of the Board, any action taken by the
Board with respect to the Plan and within the powers granted to the Board under
the Plan, and any interpretation by the Board of any term or condition of the
Plan, are conclusive and binding on all persons, and will be given the maximum
possible deference allowed by law.  The Board may delegate and
reallocate any authority and responsibility with respect to the
Plan.

    

    I.           Source of
Payments.

    

    Unless
otherwise determined by the Board, all payments and benefits provided under this
Agreement shall be paid solely by the Bank.  Notwithstanding anything
in this Agreement to the contrary, no provision of this Agreement shall be
construed so as to result in the duplication of any payment or
benefit.

    

    J.           Inalienability.

    

    In no
event may any Employee sell, transfer, anticipate, assign or otherwise dispose
of any right or interest under the Plan.  At no time will any such
right or interest be subject to the claims of creditors, nor liable to
attachment, execution or other legal process.

    

    K.           Governing
Law.

    

    The
provisions of the Plan will be construed, administered and enforced in
accordance with the laws of the State of Illinois, except to the extent that
federal law applies.

    

    L.           Severability.

    

    If any
provision of the Plan is held invalid or unenforceable, its invalidity or
unenforceability will not affect any other provision of the Plan, and the Plan
will be construed and enforced as if such provision had not been
included.

    

    M.           No Employment
Rights.

    

    Neither
the establishment nor the terms of this Plan shall be held or construed to
confer upon any employee the right to a continuation of employment by the Bank,
nor constitute a contract of employment, express or implied.  The Bank
reserves the right to dismiss or otherwise deal with any employee to the same
extent and on the same basis as though this Plan had not been
adopted.  Nothing in this Plan is intended to alter the at-will status
of the Bank’s employees, it being understood that, except to the extent
otherwise expressly set forth to the contrary in an individual
employment-related agreement, the employment of any employee may be terminated
at any time by either the Bank or the employee with or without
cause.

    

    N.           Amendment and
Termination.

    

    The Plan
may be terminated or amended in any respect by resolution adopted by a majority
of the Board, unless a Change in Control has previously occurred.  If
a Change in Control occurs, the Plan no longer shall be subject to amendment,
change, substitution, deletion, revocation or termination in any respect
whatsoever.  The form of any proper amendment or termination of the
Plan shall be a written instrument signed by a duly authorized officer or
officers of the Bank, certifying that the amendment or termination has been
approved by the Board.  A proper amendment of the Plan automatically
shall effect a corresponding amendment to each Participant’s rights
hereunder.  A proper termination of the Plan automatically shall
effect a termination of all employees’ rights and benefits
hereunder.

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

    O.           Required Provisions.

    

    
      	
               
      

            	
              (1)

            	
              In
      the event any of the provisions of this Section O are in conflict with the
      terms of this Plan, this Section O shall
  prevail.

            

    

    

    
      	
               
      

            	
              (2)

            	
              The
      Bank’s Board of Directors may terminate an employee’s employment at any
      time, but any termination by the Bank, other than termination for Cause,
      shall not prejudice an employee’s right to compensation or other benefits
      under this Plan.  An employee shall not have the right to
      receive compensation or other benefits for any period after Termination
      for Cause.

            

    

    

    
      	
               
      

            	
              (3)

            	
              If
      an employee is suspended from office and/or temporarily prohibited from
      participating in the conduct of the Bank’s affairs by a notice served
      under Section 8(e)(3) or 8(g)(1) of the Federal Deposit Insurance Act, 12
      U.S.C. §1818(e)(3) or (g)(1); the Bank’s obligations under this Plan shall
      be suspended as of the date of service, unless stayed by appropriate
      proceedings.  If the charges in the notice are dismissed, the
      Bank may in its discretion:  (i) pay the employee all or part of
      the compensation withheld while their contract obligations were suspended;
      and (ii) reinstate (in whole or in part) any of the obligations which were
      suspended.

            

    

    

    
      	
               
      

            	
              (4)

            	
              If
      an employee is removed and/or permanently prohibited from participating in
      the conduct of the Bank’s affairs by an order issued under Section 8(e)(4)
      or 8(g)(1) of the Federal Deposit Insurance Act, 12 U.S.C. §1818(e)(4) or
      (g)(1), all obligations of the Bank under this Plan shall terminate as of
      the effective date of the order, but vested rights of the contracting
      parties shall not be affected.

            

    

    

    
      	
               
      

            	
              (5)

            	
              If
      the Bank is in default as defined in Section 3(x)(1) of the Federal
      Deposit Insurance Act, 12 U.S.C. §1813(x)(1) all obligations under this
      Plan shall terminate as of the date of default, but this paragraph shall
      not affect any vested rights of the contracting
  parties.

            

    

    

    
      	
               
      

            	
              (6)

            	
              All
      obligations under this Plan shall be terminated, except to the extent
      determined that continuation of the Plan is necessary for the continued
      operation of the Bank:  (i) by the Director of the Office of
      Thrift Supervision (OTS), or his designee, at the time the Federal Deposit
      Insurance Corporation (FDIC) enters into an agreement to provide
      assistance to or on behalf of the Bank under the authority contained in
      Section 13(c) of the Federal Deposit Insurance Act, 12 U.S.C. §1823(c); or
      (ii) by the Director of the OTS (or his designee) at the time the Director
      (or his designee) approves a supervisory merger to resolve problems
      related to the operations of the Bank or when the Bank is determined by
      the Director to be in an unsafe or unsound condition.  Any
      rights of the parties that have already vested, however, shall not be
      affected by such action.

            

    

    

    
      	
               
      

            	
              (7)

            	
              Any
      payments made to employees pursuant to this Plan, or otherwise, are
      subject to and conditioned upon their compliance with 12 U.S.C. §1828(k)
      and FDIC regulation 12 C.F.R. Part 359, Golden Parachute and
      Indemnification Payments.

            

    

    
      
         

      

      
        5

        
          

        

      

      
         

      

    

    P.           Section
409A.

    

    If when employment termination occurs
an employee is a specified employee within the meaning of Section 409A of the
Code, if the cash severance payment under paragraph E. would be considered
deferred compensation under Section 409A of the Code, and finally if an
exemption from the six-month delay requirement of Section 409A(a)(2)(B)(i) of
the Code is not available, the employee’s severance benefit shall be paid to the
employee in a single lump sum without interest on the first day of the seventh
month after the month in which the employee’s employment terminates, provided
the termination of employment constitutes a “separation from service” under
Section 409A of the Code. References in this Plan to Section 409A of the Code
include rules, regulations, and guidance of general application issued by the
Department of the Treasury under Section 409A of the Code.

    
      
         

      

      
        6

        
          

        

      

      
         

      

    

    This plan
has been approved and adopted by the Board of Directors of the Bank and is
effective as of November 18, 2008.

    

    
      
        
          	 
      	 
      	 	
                  TEMPO
      BANK

                
	 
      	 
      	 	 
      	 
      
	 
      	 
      	 	 
      	 
      
	
                  Attest: 

                	
                  /s/ Phyllis J. Brown

                	 	
                  By:

                	
                  /s/ Robert J. Stroh, Jr.

                
	 
      	 
      	 	 
      	
                  Robert
      J. Stroh, Jr.

                
	 
      	 
      	 	 
      	
                  For
      the Entire Board of
Directors

                

        

      

    

    
      
         

      

      
        7Unassociated Document

    MASTER
OPTION AGREEMENT

    2002
NON-QUALIFIED STOCK COMPENSATION PLAN

    

    Composite Technology Corporation
(“Company”) has granted to the individual (the "Optionee") named in the Stock
Option Notice of Modification and Reissuance (the "Notice") to which this Master
Option Agreement (the "Option Agreement") is attached an option (the "Option")
to purchase certain shares of the Company’s $.001 par value common stock,
subject to the terms and conditions of the Composite Technology Corporation 2002
Non-Qualified Stock Compensation Plan, as amended (the "Plan"), this Option
Agreement, and the Notice. By signing this Option Agreement and the Notice, the
Optionee: (a) represents that the Optionee has read, is familiar with and agrees
to the terms and conditions of the Notice, the Plan and this Option Agreement,
including the Effect of Termination of Service set forth in Section 4, (b)
accepts the Option subject to all of the terms and conditions of the Notice, the
Plan and this Option Agreement, (c) agrees to accept all interpretations of the
Plan by the Company’s Board of Directors (“Board”) as binding, conclusive and
final, and (d) acknowledges receipt of a copy of the Notice, the Plan and this
Option Agreement.

    

    WHEREAS,
pursuant to a decision of the Board, acting as the Compensation Committee of the
Board (“Committee”) administrating the Plan, and having considered the at will
employment arrangement, employment agreement, consulting agreement or other
arrangement between the parties, as the case may be (the “Optionee
Relationship”), the Board has agreed to provide the Optionee with options to
acquire shares in the common stock of the Company, subject to the terms and
conditions of this Option Agreement, the Notice and the Plan.

    

    NOW, THEREFORE, the parties agree as
follows:

     

    
      
        	
                1. 

              	
                Option

              

      

    

     

    Pursuant to the provisions of the Plan,
the Company hereby grants to the Optionee, subject to the terms and conditions
set forth or incorporated herein and in the Notice and the Plan, the right to
purchase from the Company all or any part of an aggregate of the number of
shares indicated on the Notice of the Company’s $.001 par value common stock, as
such common stock is now constituted, (“Shares”) at the purchase price set forth
in Section 2 below.

    

    The vested portion of the Option may be
exercised at any time, whether in a single transaction or in multiple
transactions, and in the amounts and at the times determined by the Optionee,
provided however, that the exercise of such Options is not prohibited by
regulations of the Securities and Exchange Commission (“SEC”), or other
applicable laws, or regulations at the time of exercise, including without
limitation, Company-imposed non-trading or blackout periods in which event the
exercise date shall be deemed to be the first business day in which the exercise
is permissible under such laws, rules, regulations, and
restrictions.  The provisions of the Plan governing the terms and
conditions of the Option granted hereby are incorporated in full herein by
reference.

    

    This Option is granted to the Optionee
pursuant to the Optionee Relationship to provide incentive to the Optionee in
the performance of his duties and responsibilities under the Optionee
Relationship.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      
        	
                2. 

              	
                Purchase
      Price

              

      

    

     

    The
purchase price for each Share subject to the Option shall be as set forth in the
Notice.  The purchase price shall be subject to adjustments in the
event of an adjustment or change in the capitalization of the Company in
accordance with Section 8 hereof.

     

    
      
        	
                3. 

              	
                Vesting

              

      

    

     

    The Option shall be exercisable in
whole or in part on or before December 31, 2016 for the number of options
according to the vesting schedule set forth in the Notice, provided that the
cumulative number of vested Shares as to which this Option may be exercised
(except in the event of a change of control as provided in paragraph 8.2 of the
Plan and/or section 7 below) shall not exceed the vested amounts on any given
date.

    

    The Board
or the Committee may, at its sole and entire discretion, accelerate the vesting
of all or any portion of any unvested Options.

     

    
      
        	
                4. 

              	
                Effect of Termination
      of Optionee
      Relationship

              

      

    

     

    If the Optionee voluntarily terminates
the Optionee Relationship, or if the Company terminates the Optionee
Relationship for any reason, then as of the effective date of such termination,
the unvested portion of the Option shall terminate and shall be of no force or
effect.  This paragraph shall not apply to a termination by the
Optionee as a result of a Change in Control specified in Section 7
below.

    

    If the Optionee voluntarily terminates
the Optionee Relationship, or if the Company terminates the Optionee
Relationship for any reason, then as of the effective date of such termination,
the vested portion of the Option as of the date of termination shall terminate
91 days after the date of termination and thereafter shall be of no force or
effect. This paragraph shall not apply to a termination by the Optionee as a
result of a Change in Control specified in Section 7 below.

    

    The termination of the Optionee
Relationship shall not affect the Optionee’s right to exercise the vested
portion of the Option at any time prior to December 31, 2016.

     

    
      
        	
                5. 

              	
                Exercise

              

      

    

     

    A.  Form
of Exercise:  If at any time the Optionee elects to exercise all or
any part of the vested portion of the Option, it shall so notify Company in
writing.  Such written notice shall specify the number of Shares to be
purchased, the Optionee’s address of residence, the Optionee’s social security
number and the address to which the shares are to be sent.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    B.  Consideration:  Acceptable
consideration for the exercise cost, calculated as the number of Shares
exercised multiplied by the exercise price, shall be:

    i.  Cash
or by cashiers’ check, certified check, bank draft or money order or wire
transfer.

    

    C.  Withholding:

    i.  Requirements:  Before
the delivery of any shares pursuant to an exercise, the Company shall be
entitled to deduct or withhold, or require an Optionee to remit to the Company,
an amount sufficient to satisfy any federal, state and local taxes required to
be paid or withheld with respect to such exercise.

    ii.  Withholding
arrangements:  The Board, in its sole discretion and pursuant to such
procedures as it may specify from time to time may permit the Optionee to
satisfy any tax withholding obligations, in whole or in part by (a) electing to
have the Company withhold otherwise deliverable Common Shares or (b) delivering
to the Company already-owned Shares having a Fair Market Value equal to the
amount required to be withheld.

     

    At no
time shall the Company allow cashless exercise rights for any Options granted or
exercisable under this Option Agreement.

    

    Not less
than 100 Common Shares may be purchased under any option exercise unless the
number purchased is the total number at the time available for purchase under
the Option Agreement.

     

    
      
        	
                6. 

              	
                Issuance of
      Certificates

              

      

    

     

    As soon as practicable after the
exercise of any portion of the Option and provided that the Company is in
receipt of full payment of cleared funds representing the full exercise price
and any required tax withholding, the Company shall deliver to the Optionee a
certificate evidencing the Shares so purchased.

    

    Upon such
delivery the Optionee shall have all rights, powers, and interests of a
shareholder of the Company with respect to the Shares so acquired.

    

    For a period not less than two years
from the later of the date of exercise or termination of the Optionee
relationship, the Optionee shall report to the Company as soon as possible in
writing to:  Attn:  Company Secretary at the Corporate
Headquarters address when any Shares acquired through the exercise of the Option
are sold or transferred.  Information provided shall include the
Optionee’s name, address, number of shares sold, the date of the sale and the
transfer price.  The Optionee shall, at all times abide by the
Company’s policies and SEC regulations regarding trading windows and the
appropriateness of buying or selling the Company’s stock.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      
        	
                7. 

              	
                Change in
      Control

              

      

    

     

    Notwithstanding Section 3 above, in the event of a Change in Control of the
Company the unvested portion of the Option shall be fully and immediately vested
as of the earlier of (i) the date any proposed Change in Control has been
approved by the Company’s board of directors, whether or not all of the terms of
such transaction have been determined, (ii) the date Change in Control has
actually occurred, or (iii) the occurrence of an event specified in subsection
(c) below.

    

    As used herein, “Change in Control”
shall mean any of the following:

    

    (a)    
The sale or transfer of more than fifty percent (50%) of the assets of the
Company, whether in a single transaction or a series of
transactions.

     

    (b)    
The sale
or transfer to any person or Common Group, or acquisition by any person or
Common Group, of the larger of (i) thirty percent (30%) or more of the
outstanding common stock of the Company or (ii) 80 million shares, whether in a
single transaction or a series of transactions occurring within a six (6) month
period.  “Common Group” means five or fewer persons.  This
subsection shall not apply to common stock acquired by Benton
Wilcoxon.

     

    (c)    
The
death, disability, retirement, or other termination of employment of Benton H
Wilcoxon.

    

    A
transaction shall not constitute a Change in Control if its sole purpose is to
change the state of the Company’s incorporation or to create a holding company
that will be owned in substantially the same proportions by persons who held the
Company’s securities immediately before such transaction.

     

    
      
        	
                8. 

              	
                Adjustments or Changes
      in Capitalization

              

      

    

     

    If at any time before all Shares
subject to the Option have been delivered to the Optionee, the Company shall
modify its outstanding Shares or exchange for a different number or kind of
shares or other securities (“capital adjustment”) by reason of merger,
consolidation, other reorganization, recapitalization, reclassification,
combination or division (split) of its outstanding common stock, or any
distribution of stock as a dividend, the Company shall adjust the amount of the
Remaining Shares such that the value of the Remaining Shares immediately after
such capital adjustment is equal to the value of the Remaining Shares
immediately before such capital adjustment or reorganization.  As used
herein, “Remaining Shares” shall mean (i) the unexercised portion of the Option,
whether vested or nonvested; and (ii) Shares which have been exercised but which
have not yet been delivered to the Optionee.

    

    The
foregoing adjustments and the manner of the application of these provisions will
be decided and determined solely by the Committee (or in its absence, by the
Board); their determination shall be final, binding, and
conclusive.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      
        	
                9. 

              	
                Nonalienation.

              

      

    

     

    Except
for the exercise provisions allowable for the death of an Optionee as described
in Sections 6.8 and 6.9 of the Plan, neither the Option nor any rights granted
under the Plan or hereunder may be transferred, assigned, pledged or
hypothecated in any way, whether by operation of law or otherwise, and shall not
be subject to execution, attachment or similar process.

     

    
      
        	
                10. 

              	
                No Rights as a
      Shareholder:

              

      

    

     

    Except as
otherwise specifically set forth herein, no Optionee (nor any beneficiary) shall
have any of the rights or privileges of a stockholder of the Company, including
voting and dividend rights, with respect to any Shares issuable pursuant to an
Option Grant (or exercise thereof), unless and until certificates representing
such Shares shall have been issued, recorded on the books of the Company or of a
duly authorized transfer agent of the Company, and delivered to the Optionee (or
beneficiary). No adjustment will be made for a dividend or other right for which
the record date is prior to the date the share certificate is issued, except as
otherwise provided herein.

     

    
      
        	
                11. 

              	
                Entire
      Agreement

              

      

    

     

    This Option Agreement, the Notice and
the Plan represents the entire agreement of the parties with respect to the
subject matter hereof, and supersedes any prior or contemporaneous written or
oral agreement with respect thereto.

     

    
      
        	
                12. 

              	
                Choice of
      Law

              

      

    

     

    This Option Agreement shall be governed
by the laws of the State of Nevada.

     

    
      
        	
                13. 

              	
                Amendment

              

      

    

     

    This Option Agreement may be amended
only by a writing executed by the parties hereto.

     

    
      
        	
                14. 

              	
                Attorney’s
      Fees

              

      

    

     

    In the event either party incurs legal
expenses to enforce or interpret any provision of this Option Agreement, the
prevailing party shall be entitled to recover its legal expenses, including,
without limitation, reasonable attorney’s fees, costs and necessary
disbursements in addition to any other relief to which such party shall be
entitled.

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    In WITNESS WHEREOF, the parties have
entered into this Option Agreement on the date first above written.

    

    Composite Technology
Corporation

    

    
      	
              By:

            	 
      	 
      	
              By:

            	 
      
	 
      	
              Benton
      H Wilcoxon

            	 
      	 
      	
              Domonic
      J. Carney

            
	 
      	
              Chairman
      of the Board of Directors and

            	 
      	 
      	
              Chief
      Financial Officer

            
	 
      	
              Chief
      Executive Officer

            	 
      	 
      	 
      

    

    

    

    The
Optionee:

    

    
      
        
          	
                  By:

                	 
      	 
      	
                  Dated:

                	 
      
	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	
                  The
      Optionee hereby acknowledges receipt of a copy of the Plan and accepts
      this Option subject to each and every term and provision of such
      Plan.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00152-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00152-of-00352.parquet"}]]