Document:

EXHIBIT
10.4

    Standard
Gold, Inc.

    Stock
Option Agreement

    

    This
Stock Option Agreement (the  “Agreement”) is made and
entered into as of the 1st day of
April, 2010, between Deborah King (“Optionee”) and Standard Gold,
Inc., a Colorado corporation (the “Company”).

    

    Background

    

    A.           Stephen
D. King (“Executive”),
the spouse of Optionee, currently serves as the Company’s Chief Executive
Officer and the Company desires to induce Executive to continue to serve as an
executive of the Company.

    

    B.           The
Company has adopted the 2010 Stock Incentive Plan (the “Plan”) pursuant to which
shares of common stock of the Company have been reserved for issuance under the
Plan.

    

    C.           The
Plan allows for assignment of an option, and Executive has directed and
authorized the Company to enter into this Agreement directly with Optionee to
reflect his assignment of the underlying option to purchase 800,000 shares of
the Company’s common stock granted on the date hereof at the terms set forth
herein.

    

    Now,
Therefore, the parties hereto agree as follows:

    

    1.           Incorporation by
Reference.  The terms and conditions of the Plan, a copy of
which has been delivered to Optionee, are hereby incorporated herein and made a
part hereof by reference as if set forth in full. In the event of any conflict
or inconsistency between the provisions of this Agreement and those of the Plan,
the provisions of the Plan shall govern and control.

    

    2.           Grant of Option; Exercise
Price.  Subject to the terms and conditions herein set forth,
the Company hereby irrevocably grants from the Plan to Optionee the right and
option, hereinafter called the “Option”, to purchase all or
any part of an aggregate of 800,000 shares of common stock, $.001 par value, of
the Company (the “Shares”) at the price per
Share set forth at the end of this Agreement after “Exercise Price”.

    

    3.           Exercise and Vesting of
Option.  The Option shall be exercisable only to the extent
that all, or any portion thereof, has vested in the Optionee.  The
right to purchase the Shares subject to the Option shall vest pro rata in three
annual installments beginning on the date of this Agreement and continuing each
year thereafter until the Option is fully vested, so long as Executive has not
resigned, retired, is removed or in any other manner ceases being an executive
of the Company, for any reason or no reason, with or without cause, as set forth
in the following schedule (each such date is hereinafter referred to singularly
as a “Vesting Date” and
collectively as “Vesting
Dates”):

    

    
      	
              Total
      Shares Subject

              to Vesting
      Date

            	
               

              Vesting
      Date

            
	
              266,667

            	
              April
      1, 2010

            
	
              266,667

            	
              April
      1, 2011

            
	
              266,666

            	
              April
      1, 2012

            

    

    

    
      
         

      

      
        
        

        
          

        

      

      
         

      

    

    Notwithstanding
the foregoing, this Option shall immediately vest in its entirety upon the
occurrence of (i) the Executive’s death, or (ii) a Change of Control (as defined
below).  For purposes of this Paragraph 3, a “Change of Control” means (i)
the acquisition, directly or indirectly, following the date hereof by any person
(as such term is defined in Section 13(d) and 14(d)(2) of the Securities
Exchange Act of 1934, as amended), in one transaction or a series of related
transactions, of securities of the Company representing in excess of fifty
percent (50%) of the combined voting power of the Company’s then outstanding
securities if such person or his/her/its affiliate(s) do not own in excess of
fifty percent (50%) of such voting power on the date of this Agreement,
provided, however, that a Change of Control shall not include any transaction or
series of related transactions effected primarily for capital raising purposes;
or (ii) the disposition by the Company (whether direct or indirect, by sale of
assets or stock, merger, consolidation or otherwise) of all or substantially all
of its business and/or assets in one transaction or series of related
transactions (other than a merger effected exclusively for the purpose of
changing the domicile of the Company), provided, however, that a Change of
Control shall not include any merger, consolidation or other transaction (or
series of related transactions) in which, following such transaction, the
stockholders of the Company immediately prior to such transaction continue to
own in excess of fifty percent (50%) of the combined voting power of the
surviving or resulting entity.

    

    4.           Term of
Option.  To the extent vested and except as otherwise provided
in this Agreement, the Option shall be exercisable for ten (10) years from the
date of this Agreement;  provided, however, that in the
event Executive resigns, retires, is removed or in any other manner ceases being
an executive of the Company, for any reason or no reason, with or without cause,
except for reason of Executive’s death, Optionee shall have ninety (90) days
from the date of such termination of Executive’s position as an executive to
exercise all or any part of the Option, subject to the ten-year option period.
In the event of Executive’s death during the term of his employment, Optionee
shall have a period of one (1) year from the date of Executive’s death to
exercise all or any part of the Option, subject to the ten-year option
period.  Upon the expiration of such ninety (90) day period (or, in
the event of Executive’s death, such one (1) year period), or, if earlier, upon
the expiration date of the Option as set forth above, the Option shall terminate
and become null and void.

    

    5.           Rights of Option
Holder.  Optionee, as holder of the Option, shall not have any
of the rights of a stockholder with respect to the Shares covered by the Option
except to the extent that one or more certificates for such Shares shall be
delivered to her upon the due exercise of all or any part of the
Option.

    

    6.           Transferability.  The
Option shall not be transferable except to the extent permitted by the
Plan.

    

    7.           Securities Law
Matters.  Optionee acknowledges that the Shares to be received
by her upon exercise of the Option may have not been registered under the
Securities Act of 1933 or the Blue Sky laws of any state (collectively, the
“Securities
Acts”).  If such Shares have not been so registered, Optionee
acknowledges and understands that the Company is under no obligation to
register, under the Securities Acts, the Shares received by her or to assist her
in complying with any exemption from such registration if she should at a later
date wish to dispose of the Shares. Optionee acknowledges that if not then
registered under the Securities Acts, the Shares shall bear a legend restricting
the transferability thereof, such legend to be substantially in the following
form:

    

    “The
shares represented by this certificate have not been registered or qualified
under federal or state securities laws.  The shares may not be offered
for sale, sold, pledged or otherwise disposed of unless so registered or
qualified, unless an exemption exists or unless such disposition is not subject
to the federal or state securities laws, and the Company may require that the
availability or any exemption or the inapplicability of such securities laws be
established by an opinion of counsel, which opinion of counsel shall be
reasonably satisfactory to the Company.”

    

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

    8.           Optionee
Representations.  Optionee hereby represents and warrants that
Optionee has reviewed with her own tax advisors the federal, state, and local
tax consequences of the transactions contemplated by this
Agreement.  Optionee is relying solely on such advisors and not on any
statements or representation of the Company or any of its agents. Optionee
understands that she will be solely responsible for any tax liability that may
result to her as a result of the transactions contemplated by this
Agreement.  The Option, if exercised, will be exercised for investment
and not with a view to the sale or distribution of the Shares to be received
upon exercise thereof.

    

    9.           Notices.  All
notices and other communications provided in this Agreement will be in writing
and will be deemed to have been duly given when received by the party to whom it
is directed at the following addresses:

     

    
      	      
              If
      to the Company:

            	      
              If
      to Optionee:

            
	 	 
	      
              Standard
      Gold, Inc.

              900
      IDS Center

              80
      South Eighth Street

              Minneapolis,
      MN 55402-8773

            	      
              Deborah
      King

              
                450
      Glenmont Court

                Dunwoody,
      GA 30350

              

            

    

     

    10.           General.

    

    (a)           The
Option is granted pursuant to the Plan and is governed by the terms
thereof.  The Company shall at all times during the term of the Option
reserve and keep available such number of Shares as will be sufficient to
satisfy the requirements of this Agreement.

    

    (b)           Nothing
herein expressed or implied is intended or shall be construed as conferring upon
or giving to any person, firm, or corporation other than the parties hereto, any
rights or benefits under or by reason of this Agreement.

    

    (c)           Each
party hereto agrees to execute such further documents as may be necessary or
desirable to effect the purposes of this Agreement.

    

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

    

    (e)           This
Agreement, in its interpretation and effect, shall be governed by the laws of
the State of Colorado applicable to contracts executed and to be performed
therein.

    

    [Signature
page to follow]

     

     

    
      
         

      

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

    

    
      	
              Number
      of Shares: 800,000

            	
              OPTIONEE:

            
	 	 
	      
              Exercise
      Price:   $0.90 

            	      
              /s/
      Deborah
      King                                                 

            
	 	      
              Name:  Deborah
      King 

            
	 	 
	 	 
	 
      	
              STANDARD
      GOLD, INC.

            
	 	 
	 	      
              By:  /s/ Mark D.
      Dacko                                       
      

            
	 	      
              Mark D. Dacko, Chief Financial
  Officer

            

    

     

     

     

    
 

    
      
         

      

      
        4Unassociated Document

    JOINT
VENTURE DISSOLUTION

    AGREEMENT

    

    THIS
JOINT VENTURE DISSOLUTION AGREEMENT ("Agreement"), made and entered into as of
this 31 day of March, 2010 (the “Effective Date”), by and between TOT ENERGY,
INC., a Delaware company with its principal place of business at 19950 West
Country Club Drive, 8th Floor,
Aventura, FL 33180 ("TOT Energy"), SIBBURNEFTESERVIS, LTD., a limited liability
company formed pursuant to the laws of the Russian Federation with its principal
place of business in Novosybirsk, Russia ("SIBBNS"), TOT SIBBNS, LTD., a limited
liability company formed pursuant to the laws of the Russian Federation with its
principal place of business in Novosybirsk, Russia, and EVGENI BOGORAD
(“Bogorad”).

     

    RECITALS

     

    WHEREAS,
on July 16, 2008, the Parties formed a joint venture under the name TOT SIBBNS,
LTD (“TOT SIBBNS”) whereby SIBBNS contributed certain assets to TOT SIBBNS
pursuant to the terms and conditions of that certain Joint Venture Agreement
(the “JV Agreement”). The Parties agree that TOT SIBBNS has not been successful
at this endeavor.

     

    WHEREAS,
the Parties desire to dissolve the Joint Venture created as TOT SIBBNS, pursuant
to the terms and conditions of this Agreement.

     

    AGREEMENT

     

    NOW,
THEREFORE, in consideration of the mutual covenants and premises contained
herein, and other valuable consideration, the sufficiency and receipt are hereby
acknowledged, the parties agree as follows:

     

     

    ARTICLE
I

     

    GENERAL
PROVISIONS

     

    1.01 Dissolution.  The
Parties hereby agree to end the operation of TOT SIBBNS as a joint venture
effective as of March 31, 2010 (the “Dissolution Date”).

     

    1.02 Termination.  As
of the Effective Date, the terms of the JV Agreement shall be of not further
force and effect and the obligations of the Parties thereto shall be governed by
this Agreement.

     

    1.03 Transfer
of TOT SIBBNS.   TOT Energy shall transfer all right, title and
interest it has in TOT SIBBNS to Bogorad (or his designee) at the
Closing.

     

    1.04 Consideration.  As
consideration for transfer of TOT SIBBNS to Bogorad, Bogorad shall transfer to
TOT Energy 3,000,000 shares of the common stock of TOT Energy, Inc. (the
“Repurchase Shares”). Along with the stock certificates representing the
Repurchase Shares, Bogorad shall deliver to TOT Energy a properly executed and
authenticated stock power with a medallion seal or its Russian
equivalent.

     

    
      
         

      

      
        1

        
          

        

      

      
         

      

       

    

    1.05 Assumption
of Liabilities/Indemnification.  TOT SIBBNS shall be responsible for
the payment of any outstanding liabilities of TOT SIBBNS, whether or not such
liability is now known.  TOT SIBBNS and Bogorad hereby indemnify TOT
Energy for any losses, judgments, liabilities, expenses and amounts paid in
settlement of any claims sustained arising from the operations of TOT SIBBNS and
its business.

     

    1.06 Closing.  The
Parties shall schedule a Closing to this Agreement.

     

    
      	 	
              (a)  

            	
              At
      the Closing, TOT Energy shall deliver to
  Bogorad:

            

    

     

    
      	 	
              (i)  

            	
              Certificate
      representing ownership interest of 75% of TOT
  SIBBNS;

            

    

     

    
      	 	
              (ii)  

            	
              A
      resignation letter from each Director that TOT Energy named to the Board
      of Directors of TOT SIBBNS.

            

    

     

    
      	 	
              (b)  

            	
              At
      the Closing, Bogorad shall deliver to TOT
  Energy:

            

    

     

    
      	 	
              (i)  

            	
              A
      certificate representing 3,000,000 shares of the common stock of TOT
      Energy.

            

    

     

    
      	 	
              (ii)  

            	
              A
      properly executed stock power transferring the Repurchase Shares to TOT
      Energy with a medallion seal or the Russian equivalent that is acceptable
      to TOT Energy’s transfer agent.

            

    

     

     

    ARTICLE
II

     

    OBLIGATIONS
OF THE PARTIES

     

    The
Parties shall work together to ensure the following are completed and agreed
upon:

     

    2.01           Transfer
of TOT SIBBNS.  To the extent that there are documents or certificates
needed in Russia for Bogorad to affect the transfer of the interest into his
name (or an entity that he designates), he may request and TOT Energy shall
provide in a reasonable timeframe any such documents.

     

    2.02           Transfer
of Repurchase Shares. To the extent that there are documents or certificates
required by TOT Energy’s transfer agent in order to effect the transfer of the
Repurchase Shares to TOT Energy, Bogorad shall ensure that such documents or
certificates are provided in a reasonable time frame.

     

    2.03           Employees.  TOT
SIBBNS shall be responsible for all aspects of the employees who have worked for
TOT SIBBNS since the formation of the Joint Venture, including without
limitation payment of all taxes and benefits that may have accrued.

     

    
      
         

      

      
        2

        
          

        

      

      
         

      

       

    

    2.04           Financial
Reporting.  TOT SIBBNS shall provide TOT Energy all financial
reporting information required by TOT Energy in fulfillment of its reporting
obligations with the Securities and Exchange Commission.

     

     

    ARTICLE
IV

     

    MISCELLANEOUS
PROVISIONS

     

    4.01           Validity.  In
the event that any provision of this Agreement shall beheld to be invalid, the
same shall not affect in any respect whatsoever the validity of the remainder of
this Agreement.

     

    4.02           Disputes.  Any
controversy arising under or relating to the interpretation or implementation of
this Agreement or the breach thereof shall be construed under the laws of the
State of Florida, USA and shall be settled by binding arbitration in London,
England, under the rules of the International Arbitration
Association.  The prevailing party in arbitration and litigation shall
be entitled to payment for all costs and attorney’s fees (both trial and
appellate) incurred by it in regard to the proceedings.

     

    4.03           Integrated
Agreement.  This Agreement constitutes the entire understanding and
agreement among the parties hereto with respect to the subject matter hereof,
and there are no agreements, understandings, restrictions or warranties among
the parties other than those set forth herein provided for.

     

    4.04           Headings.  The
headings, titles and subtitles used in this Agreement are for ease of reference
only and shall not control or affect the meaning or construction of any
provision hereof.

     

    4.05           Notices.  Except
as may be otherwise specifically provided in this Agreement, all notices
required or permitted hereunder shall be in writing and shall be deemed to be
delivered when deposited with an international courier postage prepaid,
certified or registered mail, return receipt requested, addressed to the parties
at their respective addresses set forth in this Agreement or at such other
addresses as may be subsequently specified by written notice.

     

    4.06           Severability.  Every
provision hereof is intended to be severable, and if any term or provision
hereof is illegal or invalid for any reason whatsoever or would affect TOT
SIBBNS status for income tax purposes, such provision shall be invalid, but such
illegality or invalidity shall not affect the validity of the remainder of the
Agreement.

     

    4.07           Other
Instruments.  The parties hereto covenant and agree that they will
execute each such other and further instruments and documents as are or may
become reasonably necessary or convenient to effectuate and carry out the
purposes of this Agreement.

     

    4.08           Counterparts.  This
Agreement may be executed in counterparts, each of which shall be deemed to be
an original, and shall be binding upon the Party or Parties who executed the
same, but all of such counterparts shall constitute one and the same
agreement.

     

    
      
         

      

      
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    4.09           Construction.
Every covenant, term, and provision of this Agreement shall be construed simply
according to its fair meaning and not strictly for or against any
Party.

     

    4.10           Amendments/Modifications.  This
Agreement may only be amended or modified by a written instrument executed by
all Parties hereto and/or bound hereby.

     

    [Signatures
appear on following page]

     

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

     

    IN
WITNESS WHEREOF, the Parties hereto have executed this Agreement as of the
Effective Date.

     

    
      
        
          
            
              	 	TOT
      ENERGY, INC.	 
	 	 	 
	 	 	 
	 	 	 	 
	
                       

                    	
                      By:
      

                    	/s/ Mike
      Zoi	 
	 	Name: 	Mike
      Zoi 	 
	 	Title: 	Chief
      Executive Officer	 

            

          

        

      

    

    
       

      
        
          
            
              
                	 	SIBBURNEFTESERVIS,
      LTD.	 
	 	 	 
	 	 	 
	 	 	 	 
	
                         

                      	
                        By:
      

                      	/s/ Evgeni
      Bogorad	 
	 	Name: 	EVGENI
      BOGORAD	 
	 	Title: 	 	 

              

            

          

        

      

      
         

        
          
            
              
                
                  	 	TOT
      ENERGY, INC.	 
	 	 	 
	 	 	 
	 	 	 	 
	
                           

                        	
                          By:
      

                        	/s/ Evgeni
      Bogorad	 
	 	Name: 	 	 
	 	Title: 	 	 

                

              

            

          

        

        
           

          
            
              
                
                  
                    
                      
                        	 	EVGENI
      BOGORAD	 
	 	 	 
	 	 	 
	 	 	 	 
	
                                 

                              	
                                By:
      

                              	/s/ Evgeni
      Bogorad	 
	 	Evgeni
      Bogorad 	 

                      

                    

                  

                

              

            

          

           

        

      

    

    
      
         

      

      
        5

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