Document:

BP (x153465) PanAmerican Bancorp Exhibit 10.14

Exhibit 10.14

SUBSCRIPTION AGREEMENT FOR UNITS OFFERED BY

 PANAMERICAN BANCORP

The undersigned ________________ (“New Shareholder”), and PanAmerican Bancorp, a Delaware corporation (the “Corporation”), hereby agree as follows:

FIRST: The New Shareholder desires to become a shareholder of the Corporation. In accordance with the terms of the enclosed offering. The New Shareholder will purchase units from the Corporation in the amount set forth below his name at the end of this Agreement at Page 3. The Corporation agrees to issue the New Shareholder units in accordance with his subscription herein, subject to approval, by its Placement Agent in its absolute discretion. All subscription checks must be made payable to PanAmerican Bancorp. 

SECOND: EACH NEW SHAREHOLDER MUST COMPLETE THE APPROPRIATE REPRESENTATIONS SET FORTH BELOW:

Representations for Corporations: The New Shareholder is a corporation that was not formed for the specific purpose of acquiring an interest in the Corporation and has total assets in excess of $5,000,000. 

THIRD: The New Shareholder further represents, warrants, acknowledges and agrees that:

 

(a)

The New Shareholder is entering into this Agreement relying solely on the facts and terms set forth in this Agreement and the information contained in a Registration Statement dated May 13, 2004, form 10-QSB for the quarterly period ended March 31, 2004 and form DEF 14A dated May 18 2004. 

(b)

The New Shareholder has made an investigation of the pertinent facts relating to the operation of the Corporation and has reviewed the terms of the Offering to the extent that he deems necessary in order to be fully informed with respect thereto;

(c)

The New Shareholder has such knowledge and experience in financial and business matters that he is capable of evaluating the merits and risks of an investment in the Corporation and the New Shareholder is able to bear the economic risk of a complete loss of his investment in the Corporation;

(d)

The New Shareholder will be acquiring the units for investment, for his or her own account and not for the interest of any other person and not for 

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distribution or resale to others, and the New Shareholder will not permit any other person to acquire a beneficial interest in the units without the consent of the Corporation in its sole discretion;

(e)

The units have not been registered under the Securities Act of 1933, as amended (the “Act”), the interest in the Corporation may not be sold, transferred, or otherwise disposed of except pursuant to an exemption from registration under the Act;

(f)

The New Shareholder will not assign his interest in the Corporation or any beneficial interest therein, in whole or in part, to any other person, nor will the New Shareholder be entitled to substitute for himself as a shareholder any other person, except with the written consent of the Corporation in its sole discretion. 

FOURTH: The New Shareholder is a corporation, the person executing this Agreement has the full power and authority under the New Shareholder's governing instruments to do so and the New Shareholder has the full power and authority under its governing instruments to become a shareholder in the Corporation.

FIFTH: The New Shareholder is a corporation, it recognizes that the Corporation is restricted by law as to the number of beneficial interests held in the Corporation, and, that in determining the number of beneficial interests, it may be necessary to count the beneficial owners of the New Shareholder.

SIXTH: This Agreement shall inure to the benefit of and be binding upon each of the parties hereto, his heirs and legal representatives.

[Signatures to follow.]

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

	PAN AMERICAN BANCORP

	 	 	NEW SHAREHOLDER

	 	 	 
	 	 	 	 	 	 	 	 	 
	By:

	                                

	 	            

	                                

	 
	 	 	, Officer

	 	Type Name New Shareholder

	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	By:  

	                      

	Date:

	                         

	 

	FRANKLIN NATIONAL FINANCIAL

GROUP, LLC, Placement Agent for

PanAmerican Bancorp

	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	By:

	                                

	 	                

	                                                                       

	 	 	 
	 	 	 	 	Title of Authorized Signatory

	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 
	 	 	 	 	Taxpayer Identification

	 

Subscription Amount: 

Total # of

Units Purchased: _______________

Total Amount of

Subscription: __________________

Mailing Address of

New Shareholder:

_______________________________

_______________________________

_______________________________

3Exhibit 4.3

                      AMENDED AND RESTETED FUELNATION INC.
                             2002 STOCK OPTION PLAN

         On April 18, 2002, the Board of Directors of FuelNation Inc. (the
"Company"), adopted the following 2002 Stock Option Plan, which was amended and
restated as of October 28, 2002:

         1. PURPOSE. The purpose of the Plan is to provide key employees,
non-employee directors, independent contractors and consultants with a
proprietary interest in the Company through the granting of Options which will:

         (a)      increase the interest of the key employees, non-employee
                  directors, independent contractors and consultants in the
                  Company's welfare;

         (b)      furnish an incentive to the key employees, non-employee
                  directors, independent contractors and consultants to continue
                  their services for the Company; and

         (c)      provide a means through which the Company may attract able
                  persons to enter its employ, serve on its Board and render
                  services to it.

         2. ADMINISTRATION. The Plan will be administered by the Committee.

         3. PARTICIPANTS. The Committee may, from time to time, select the
particular Key Employees, non-employee directors, independent contractors and
consultants of the Company and its Subsidiaries to whom Options are to be
granted, and who will, upon such grant, become Participants in the Plan. The
Committee has the authority, in its complete discretion, to grant Options to
Participants. A Participant may be granted more than one Option under the Plan,
and Options may be granted any time or times during the term of the Plan.

         4. STOCK OWNERSHIP LIMITATION. No Incentive Option may be granted to an
Employee who owns more than 10% of the voting power of all classes of stock of
the Company or its Parent or Subsidiaries. This limitation will not apply if the
Option price is at least 110% of the fair market value of the Common Stock at
the time the Incentive Option is granted and the Incentive Option is not
exercisable more than five years from the date it is granted.

         5. SHARES SUBJECT TO PLAN. The Committee may not grant Options under
the Plan for more than 72,000,000 shares of Common Stock and may not grant
Options to any Participant for more than 7,200,000 shares of Common Stock, but
these numbers may be adjusted to reflect, if deemed appropriate by the
Committee, any stock dividend, stock split, share combination, recapitalization
or the like of or by the Company. Shares to be optioned and sold may be made
available from either authorized but unissued Common Stock or Common Stock held
by the Company in its treasury. Shares that by reason of the expiration of an
Option or otherwise are no longer subject to purchase pursuant to an Option
granted under the Plan may be re-offered under the Plan. Effective on the date

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of the 1-for-150 reverse split, an additional 480,000 shares of Common Stock
(post-split) have been reserved for grant by the Committee.

         6. LIMITATION ON AMOUNT. The aggregate fair market value (determined at
the date of grant) of the shares of Common Stock which any Key Employee is first
eligible to purchase in any calendar year by exercise of Incentive Options
granted under the Plan and all incentive stock option plans (within the meaning
of Section 422 of the Code) of the Company or its Parent or Subsidiaries shall
not exceed $100,000. For this purpose, the fair market value (determined at the
date of grant of each option) of the stock purchasable by exercise of an
Incentive Option (or an installment thereof) shall be counted against the
$100,000 annual limitation for a Key Employee only for the calendar year such
stock is first purchasable under the terms of the Incentive Option.

         7. ALLOTMENT OF SHARES. The Committee shall determine the number of
shares of Common Stock to be offered from time to time by grant of Options to
Key Employees, non-employee directors, independent contractors and consultants
of the Company or its Subsidiaries. The grant of an Option to an individual
shall not be deemed either to entitle the individual to, or to disqualify the
individual from, participation in any other grant of Options under the Plan.

         8. GRANT OF OPTIONS. The Committee is authorized to grant Incentive
Options, Non-qualified Options, or a combination of both, under the Plan;
provided, however, Incentive Options may be granted only to Key Employees. The
grant of Options shall be evidenced by Option Agreements containing such terms
and provisions as are approved by the Committee, but not inconsistent with the
Plan, including (without limitation) provisions that may be necessary to assure
that any Option that is intended to be an Incentive Option will comply with
Section 422 of the Code. The Company shall execute Option Agreements upon
instructions from the Committee. Except as provided otherwise in Sections 5 and
14 of the Plan, the terms of any Option Agreement executed by the Company shall
not be amended, modified or changed without the written consent of the Company
and the Participant.

         An Option Agreement may provide that the Participant may request
approval from the Committee to exercise an Option or a portion thereof by
tendering Qualifying Shares at the fair market value per share on the date of
exercise in lieu of cash payment of the Option price. The Plan shall be
submitted to the Company's shareholders for approval. Options may be granted
under the Plan before the shareholders of the Company approve the Plan, and
those Options will be effective when granted; but if for any reason the
shareholders of the Company do not approve the Plan before one year from the
date of adoption of the Plan by the Board (the "Shareholder Approval Deadline"),
all Incentive Options granted under the Plan before the Shareholder Approval
Deadline will be deemed to have been granted as Non-qualified Options. No Option
granted before shareholder approval may be exercised, in whole or in part,
before approval of the Plan by the shareholders of the Company.

         9. OPTION PRICE. The Option price for an Incentive Option shall not be
less than 100% of the fair market value per share of the Common Stock (or 110%
of such amount as required by Section 4 of the Plan), and at least the par value
per share of Common Stock, on the date the Option is granted. The Option price
for a Non-qualified Option shall be, as determined by the Committee, any price

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<PAGE>

per share of the Common Stock that is greater than par value per share of the
Common Stock. For purposes of the Plan, the fair market value of a share of the
Common Stock shall be (i) if the Common Stock is traded in the over-the-counter
market or on any securities exchange, the closing price or, if applicable, the
average of the closing bid and ask prices per share of such Common Stock for the
last business day immediately before the date the Option is granted, and (ii) if
the Common Stock is not so traded, an amount determined by the Committee in good
faith using any reasonable valuation method and based on such factors as it
deems relevant to such determination.

         10. OPTION PERIOD. The Option Period will begin on the date the Option
is granted, which will be the date the Committee authorizes the Option unless
the Committee specifies a later date. No Option may terminate later than ten
years (or five years as required by Section 4 of the Plan) from the date the
Option is granted. The Committee may provide for the exercise of Options in
installments and, subject to the provisions hereof, upon such terms, conditions
and restrictions as it may determine. The Committee may provide for termination
of the Option in the case of termination of employment, directorship or
independent contractor or consultant relationship, or any other reason.

         11. RIGHTS IN EVENT OF DEATH OR DISABILITY. If a Participant dies or
becomes disabled (within the meaning of Section 22(e)(3) of the Code) prior to
termination of his right to exercise an Option in accordance with the provisions
of his Option Agreement, the Option Agreement may provide that it may be
exercised, to the extent of the shares with respect to which the Option could
have been exercised by the Participant on the date of his death or disability,
(i) in the case of death, by the Participant's estate or by the person who
acquires the right to exercise the Option by bequest or inheritance or by reason
of the death of the Participant, or (ii) in the case of disability, by the
Participant or his personal representative, provided the Option is exercised
prior to the date of its expiration or not more than one year from the date of
the Participant's death or disability, whichever first occurs. The date of
disability of a Participant shall be determined by the Committee.

         12. TERMINATION OF EMPLOYMENT OR OTHER RELATIONSHIP. Unless otherwise
specified in the applicable option agreement, upon termination of the optionee's
employment or other relationship with the Company, his rights to exercise such
options then held by him shall be only as follows. However, in no case shall the
time periods referred to below extend the term of the applicable option
specified therein:

         (a)      Retirement. Upon the retirement (either pursuant to a Company
                  retirement plan, if any, or pursuant to the approval of the
                  Company's Board) of an officer, director or employee, an
                  outstanding option may be exercised (to the extent exercisable
                  at the date of such retirement) by him within such period

                  after the date of his retirement (provided that such period is
                  no less than 30 days and no more than 90 days) as the
                  Committee shall prescribe in the applicable option agreement.

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<PAGE>

         (b)      Other Termination. In the event an officer, director or
                  employee ceases to serve as an officer, director or leaves the
                  employ of the Company for any reasons other than as set forth
                  herein, any option which he holds shall remain exercisable (to
                  the extent exercisable as of the date of such termination)
                  until 90 days after the date of such termination.

         (c)      Committee Discretion. The Committee may, in its sole
                  discretion, accelerate the exercisability of any or all
                  options upon termination of employment or cessation of
                  services.

         13. PAYMENT. Full payment for shares purchased upon exercising an
Option shall be made in cash or by check or, if the Option Agreement so permits
and no legal or regulatory requirement imposed on the Company or covenant made
by the Company is violated, by tendering Qualifying Shares at the fair market
value per share at the time of exercise, or on such other terms as are set forth
in the applicable Option Agreement. If the Common Stock is traded in the
over-the-counter market or upon any securities exchange, the Committee may
permit a Participant exercising an Option to simultaneously exercise the Option
and sell a portion of the shares acquired, pursuant to a brokerage or similar
arrangement approved in advance by the Committee, and use the proceeds from the
sale as payment of the Option price of the Common Stock being acquired by
exercise of the Option. In addition, the Participant shall tender payment of the
amount as may be reforested by the Company, if any, for the purpose of
satisfying its statutory liability to withhold federal, state or local income or
other taxes incurred by reason of the exercise of an Option. No shares may be
issued until full payment of the purchase price therefor has been made, and a
Participant will have none of the rights of a shareholder with respect to those
shares until those shares are issued to him.

         14. EXERCISE OF OPTION. Options granted under the Plan may be exercised
during the Option Period, at such times, in such amounts, in accordance with
such terms and subject to such restrictions as are set forth in the applicable
Option Agreement. In no event may an Option be exercised or shares be issued
pursuant to an Option if any requisite action, approval or consent of any
governmental authority of any kind having jurisdiction over the exercise of
options shall not have been taken or secured.

         15. CAPITAL ADJUSTMENTS AND REORGANIZATIONS.

         (a)      The number of shares of Common Stock covered by each
                  outstanding Option granted under the Plan and the Option price
                  may be adjusted to reflect, as deemed appropriate by the
                  Board, any stock dividend, stock split, share combination,
                  exchange of shares, recapitalization, merger, consolidation,
                  separation, reorganization, liquidation or the like of or by
                  the Company that is effected without receipt of consideration
                  by the Company. For this purpose, the term effected without
                  receipt of consideration shall not include conversion or
                  exchange of any convertible or exchangeable securities of the
                  Company.

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<PAGE>

         (b)      In the event of the proposed dissolution or liquidation of the
                  Company, the Board shall notify the Participant at least 20
                  days prior to such proposed action. To the extent that an
                  Option has not been previously exercised, such Option shall
                  terminate immediately before consummation of such proposed
                  dissolution or liquidation.

         (c)      If (i) the Company shall sell all or substantially all of its
                  assets to an entity that is not an affiliate, as defined in
                  Rule 405 promulgated under the Securities Act of 1933, as
                  amended, of the Company immediately before that sale, (ii) the
                  Company consummates a merger, consolidation, share exchange or
                  reorganization with another corporation or other entity and,
                  as a result of such merger, consolidation, share exchange or
                  reorganization, less than a majority of the combined voting
                  power of the outstanding securities of the surviving entity
                  (whether the Company or another entity) immediately after such
                  transaction is held in the aggregate by the holders of
                  securities of the Company that were entitled to vote generally
                  in the election of directors of the Company (or its successor)
                  ("Voting Stock") immediately before such transaction, or (iii)
                  when the Common Stock is traded in the over-the-counter market
                  or on any securities exchange pursuant to a tender offer or
                  exchange offer for securities of the Company, or in any other
                  manner, any person or group within the meaning of the
                  Securities Exchange Act of 1934, as amended (excluding any
                  employee benefit plan, or related trust, sponsored or
                  maintained by the Company or any of its affiliates), acquires
                  beneficial ownership (within the meaning of Rule 13d-3
                  promulgated under the Securities Exchange Act of 1934, as
                  amended) of more than 50% of the Voting Stock (the surviving
                  corporation or purchaser described in this paragraph, the
                  Purchaser, and any such event described in this paragraph, a
                  Change of Control), then the Company shall negotiate in good
                  faith to reach an agreement with the Purchaser that the
                  Purchaser will either assume the obligations of the Company
                  under the outstanding Options or convert the outstanding
                  Options into options of at least quality value as to capital
                  stock of the Purchaser; but if such an agreement is not
                  reached, then the Options shall become fully vested and
                  exercisable and the Company shall notify each Participant, not
                  later than 20 days before the effective date of such Change of
                  Control (except that in the case of a Change of Control under
                  the clause (iii), notice shall be given as soon as practicable

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<PAGE>

                  after the Change of Control), that his Option has become fully
                  vested and exercisable, whether or not such Option shall then
                  be exercisable under the terms of his Option Agreement. Any
                  such arrangement relating to Incentive Options shall comply
                  with the requirements of Section 422 of the Code and the
                  regulations thereunder. To the extent that the Participants
                  exercise the Options before or on the effective date of the
                  Change of Control, the Company shall issue all Common Stock
                  purchased by exercise of those Options, and those shares of
                  Common Stock shall be treated as issued and outstanding for
                  purposes of the Change of Control. Upon a Change of Control,
                  where the outstanding Options are not assumed by the surviving
                  corporation or the acquiring corporation, the Plan shall
                  terminate, and any unexercised Options outstanding under the
                  Plan at that date shall terminate.

         16. TAX WITHHOLDING. The Committee may establish such rules and
procedures as it considers desirable in order to satisfy any obligation of the
Company to withhold the statutorily prescribed minimum amount of federal income
taxes or other taxes with respect to the exercise of any Option granted under
the Plan. If the Common Stock is traded in the over-the-counter market or upon
any securities exchange, such rules and procedures may provide that the
withholding obligation shall be satisfied by the Company withholding shares of
Common Stock otherwise issuable upon exercise of an Option in shares of Common
Stock in an amount equal to the statutorily prescribed minimum withholding
applicable to the ordinary income resulting from the exercise of that Option.

         17. NON-ASSIGNABILITY. Unless otherwise permitted by the Code and Rule
16b-3 under the Securities Exchange Act of 1934, as amended (if applicable), and
expressly permitted in the Option Agreement, an Option may not be transferred
other than by will or by the laws of descent and distribution. Except in the
case of the death or disability of a Participant, Options granted to a
Participant may be exercised only by the Participant.

         18. INTERPRETATION. The Committee shall interpret the Plan and shall
prescribe such rules and regulations in connection with the operation of the
Plan as it determines to be advisable for the administration of the Plan. The
Committee may rescind and amend its rules and regulations.

         19. AMENDMENT OR DISCONTINUANCE. The Plan may be amended or
discontinued by the Board or the Committee without the approval of the
shareholders of the Company, except that any amendment that would either
materially increase the number of securities that may be issued under the Plan
or materially modify the requirements of eligibility for participation in the
Plan must be approved by the shareholders of the Company.

         20. EFFECT OF PLAN. Neither the adoption of the Plan nor any action of
the Board or the Committee shall be deemed to give any Employee, non-employee
director, independent contractor or consultant any right to be granted an Option

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<PAGE>

to purchase Common Stock or any other right except as may be evidenced by the
Option Agreement, or any amendment thereto, duly authorized by the Committee and
executed on behalf of the Company, and then only to the extent and on the terms
and conditions expressly set forth therein. The existence of the Plan and the
Options granted hereunder shall not affect in any way the right of the Board,
the Committee or the shareholders of the Company to make or authorize any
adjustment, recapitalization or other change in the Company's capital structure
or its business, any merger or consolidation of the Company, any issue of bonds,
debentures or shares of preferred stock ahead of or affecting Common Stock or
the rights thereof, the dissolution or liquidation of the Company or any sale or
transfer of all or any part of its assets or business, or any other corporate
act or proceeding. Nothing contained in the Plan or in any Option Agreement
shall confer upon any Employee, non-employee director, independent contractor or
consultant any right to (i) continue in the employ of the Company or any of its
Subsidiaries, or continue as a director, independent contractor or consultant to
the Company or any of its Subsidiaries, or (ii) interfere in any way with the
right of the Company or any of its Subsidiaries to terminate his employment,
directorship or independent contractor or consultant relationship at any time.

         21. TERM. Unless sooner terminated by action of the Board, this Plan
will terminate on July 4, 2010. The Committee may not grant Options under the
Plan after that date, but Options granted before that date will continue to be
effective in accordance with their terms.

         22. DEFINITIONS. For the purpose of the Plan, unless the context
requires otherwise, the following terms shall have the meanings indicated:

         (a)      "Board" means the Board of Directors of the Company.

         (b)      "Code" means the Internal Revenue Code of 1986, as amended.

         (c)      "Committee" means the committee of the Board appointed to
                  administer the Plan, or, in the absence of such a Committee,
                  means the Board.

         (d)      "Common Stock" means the Common Stock which the Company is
                  currently authorized to issue or may in the future be
                  authorized to issue (as long as the Common Stock varies from
                  that currently authorized, if at all, only in amount of par
                  value).

         (e)      "Company" means FuelNation Inc., a Florida corporation.

         (f)      "Employee" means an individual who is employed, within the
                  meaning of Section 3401 of the Code, by the Company or by a
                  Subsidiary. The Committee shall determine when an Employee's
                  period of employment terminates and when such period of
                  employment is deemed to be continued during an approved leave
                  of absence.

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<PAGE>

         (g)      "Incentive Option" means an Option granted under the Plan
                  which meets the requirements of Section 422 of the Code.

         (h)      "Key Employee" means any Employee whose performance and
                  responsibilities are determined by the Committee to have a
                  direct and significant effect on the performance of the
                  Company and its Subsidiaries.

         (i)      "Non-qualified Option" means an Option granted under the Plan
                  which is not intended to be an Incentive Option.

         (j)      "Option" means an option granted pursuant to the Plan to
                  purchase shares of Common Stock, whether granted as an
                  Incentive Option or as a Non-qualified Option.

         (k)      "Option Agreement" means, with respect to each Option granted
                  to a Participant, the signed written agreement between the
                  Participant and the Company setting forth the terms and
                  conditions of the Option.

         (l)      "Option Period" means the period during which an Option may be
                  exercised.

         (m)      "Parent" means any corporation in an unbroken chain of
                  corporations ending with the Company if, at the time of
                  granting of the Option, each of the corporations other than
                  the Company owns stock possessing 50% or more of the total
                  combined voting power of all classes of stock in one of the
                  other corporations in the chain.

         (n)      "Participant" means an individual to whom an Option has been
                  granted under the Plan.

         (o)      "Plan" means this FuelNation, Inc.. 2002 Stock Option Plan, as
                  set forth herein and as it may be amended from time to time.

         (p)      "Qualifying Shares" means shares of Common Stock which either

                  (i) have been owned by the Participant for more than six
                  months and have been "paid for" within the meaning of Rule 144
                  promulgated under the Securities Act of 1933, as amended, or

                  (ii) were obtained by the Participant in the public market.

         (q)      "Subsidiary" means any corporation in an unbroken chain of
                  corporations beginning with the Company if, at the time of the
                  granting of the Option, each of the corporations other than
                  the last corporation in the unbroken chain owns stock
                  possessing 80% or more of the total combined voting power of
                  all classes of stock in one of the other corporations in the
                  chain, and "Subsidiaries" means more than one of any of such
                  corporations.

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