Document:

Unassociated Document

Exhibit 10.1

 

EAU TECHNOLOGIES, INC.

2007 STOCK INCENTIVE PLAN

NON-EMPLOYEE DIRECTOR

STOCK OPTION AWARD AGREEMENT

 

This Stock Option Award Agreement (“Agreement”) was made and entered into as of _____________ (“Date of Grant”), by and between EAU Technologies, Inc., a Delaware corporation (hereinafter “EAU” or the “Company”), and _______________, a director of EAU (hereinafter “Director”).

WITNESSETH:

WHEREAS, the Board of Directors of EAU has adopted, and EAU’s stockholders have approved, the EAU Technologies, Inc. 2007 Stock Incentive Plan (the “Plan”), the purpose of which is to promote the interests of EAU and its stockholders by enhancing EAU’s ability to attract and retain the services of experienced and knowledgeable directors and by encouraging such directors to acquire an increased proprietary interest in EAU through the ownership of common stock, $0.0001 par value, of EAU (“Common Stock”); and

WHEREAS, the Plan provides that non-employee directors may receive awards of stock options to purchase shares of EAU Common Sock.

NOW, THEREFORE, in consideration of the foregoing, the parties agree as follows:

1.           EAU, as authorized by the Committee, hereby grants to Director the option to purchase 290,325 shares of Common Stock (the “Stock Option Award”) pursuant to provisions of the Plan.  The Stock Option Award shall be subject to vesting as set forth in the Plan and summarized below:

	
(a)  

	
145,163 shares of the Stock Option Award shall vest immediately.

	
(b)  

	
96,775 shares of the Stock Option Award shall vest on January 1, 2013.

	
(c)  

	
48,387 shares of the Stock Option Award shall vest on January 1, 2014.

2.           This option shall expire at the close of business on January 1, 2022.

3.           The vested portion of the option may be exercised at any time after it vests, provided that at the time of exercise all of the conditions set forth in the Plan and in this document have been met.

  

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4.           The option is nontransferable, except as designated by you by will or by the laws of descent and distribution.  This stock option is in all respects limited and conditioned as provided in the Plan, including, but not limited to, the following: The option will normally terminate on the earlier of (i) the date of expiration of the option or (ii) the 90th day after cessation of service as a director of the Company; provided, however, that, if the Director leaves the board of directors of the Company in “good standing,” such Director’s Option shall remain in effect, vest, become exercisable and expire as if the Director had remained a director of the Company.

5.           At the time or times when the Director wishes to exercise his option, Director shall be required to follow the procedures established by the Company for the exercise of options.  Notice of exercise of the option must be accompanied by a payment equal to the applicable option exercise price plus all withholding taxes due, if any, such amount to be pain in cash or by tendering, either  by actual delivery of shares or by attestation, shares of common stock that are acceptable to the Committee, such shares to be valued at Fair Market Value, as defined in the Plan, as of the day the shares are tendered, or paid in any combination of cash and shares, as determined by the Committee.  To the extent permitted by applicable law and the policies adopted from time to time by the Committee, you may elect to pay the exercise price through the contemporaneous sale by a third party broker of shares of common stock acquired upon exercise yielding net sales proceeds equal to the exercise price and any withholding tax due and the remission of those sale proceeds to the Company.

6.           The option shall be subject to and governed by the laws of the State of Delaware.  The Stock Option Agreement, together with this document and the Plan, contains the entire agreement of you and the Company with respect to your option, and no representation, inducement, promise, or agreement or other similar understanding between you and the Company not embodied herein shall be of any force or effect, and the Company will not be liable or bound in any manner for any warranty, representation, or covenant except as specifically set forth herein or in the Plan.

  

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By accepting this Option, you accept and agree to be bound by all of the terms and conditions of the Plan and Terms and Conditions of Stock Option, and you acknowledge receipt of the Plan and the Plan Prospectus dated December 6, 2007, which contains important information, including a discussion of federal tax consequences, and EAU’s 2007 Annual Report to Shareholders.  In the event of any conflict between the terms of this Option and the Plan, the Plan will control.

 

	 	EAU TECHNOLOGIES, INC.:
	 	 
	 	 
	 	By:           Wade R. Bradley
	 	         Chief Executive Officer
	 	         And President

 

 

 

 

 

 

3ffge_ex101.htm

EXHIBIT 10.1

 

STOCK PURCHASE AND

 

NON DILUTION OF STOCK INTEREST AGREEMENT

Effective this 16th day of February, 2012, Tangiers Investors, LP, (“Tangiers”) hereby purchases a total of 9,118,108 restricted shares (the “Shares”) of the Common Stock of Frozen Food Gift Group, Inc. (the “Company”), from the Company, on the following terms and conditions:

1.  A cash payment of $50,000, (representing approximately $.0055/share), as the cash purchase price for the Shares, which has been concurrently delivered to the Company.

2.  The representation of the Company that after issuance, the Shares will in the aggregate represent 71⁄2% of the outstanding Common Stock of the Company.

3.  As additional consideration to Tangiers for entering into this transaction, for a period of five years from this date, if and/or when the Company issues additional shares of its capital stock to any other party during said term, as additional shares are so issued by the Company, the Company hereby agrees to concurrently issue to Tangiers without further consideration beyond the $50,000 cash payment paid by Tangiers pursuant to the terms of this Agreement, additional shares of the Company’s restricted Common Stock in sufficient number such that in the aggregate, when the shares issued under this Agreement to Tangiers initially and the shares issued to Tangiers subsequently pursuant to this provision are combined, equal in the aggregate at least 71⁄2% of the Company’s Common Stock, calculated after all such issuances.

4.  Tangiers is an “accredited investor” as defined in Rule 501(a) of the Securities Act, and is acquiring the Shares for its own account, not as a nominee or agent for any other Person, and not with a view to, or

in connection with, the sale or distribution thereof in violation of the securities laws of the United States or any state thereof.  Tangiers acknowledges that it has had an opportunity to discuss the business, affairs and current prospects of the Company with the Company's officers and has had access to information about the Company that it has requested, that Tangiers is able to fend for itself in making investment decisions, has the ability to bear the economic risks of its investment pursuant hereto, and has such knowledge or experience in financial and business matters that it is capable of evaluating the merits and risks of investing in the Company.

 

  

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5.   The Shares are restricted securities within the meaning of Rule 144 under the Securities Act and the certificate(s) representing the Shares will be stamped or otherwise imprinted with a legend substantially in the following form or other form as required by law:

THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), OR UNDER THE SECURITIES LAWS OF ANY STATE. THESE SECURITIES ARE SUBJECT TO RESTRICTIONS ON TRANSFERABILITY AND RESALE AND MAY NOT BE SOLD OR OTHERWISE TRANSFERRED, PLEDGED OR HYPOTHECATED UNLESS AND UNTIL SUCH SECURITIES ARE REGISTERED UNDER SUCH ACT OR AN OPINION OF COUNSEL IS OBTAINED TO THE EFFECT THAT SUCH REGISTRATION IS NOT REQUIRED.

Wherefore the parties hereto have executed this Agreement effective as of the date set forth above.

 

	FROZEN FOOD GIFT GROUP, INC.	 
	 	 	 
	
BY:

		 
	 	Jonathan Irwin	 
	 	 	 
	TITLE: Chief Executive Officer	 
	 	 	 
	 	 	 
	 	 	 
	TANGIERS INVESTORS, LP.	 
	 	 	 
	BY:		 
	 	Michael Sobeck	 
	 	 	 
	TITLE:	Managing Membe r	 

 

 

 

2ffge_ex102.htm

EXHIBIT 10.2

 

OPTION TO CONVERT COMMON STOCK INTO

PREFERRED STOCK

 

AT FUTURE DATE

Effective this 16th day of February, 2012, Tangiers Investors, LP, (“Tangiers”) and Frozen Food Gift Group, Inc. (the “Company”), hereby agree as follows:

Whereas, concurrently with the execution of the Agreement, Tangiers purchased 9,118,108 restricted shares of the Company’s Common Stock;

Now, therefore, for one dollar in hand and other valuable consideration, receipt of which is hereby acknowledged, agree as follows:

1.  The Company hereby undertakes to in due course create a class of Series A Convertible Preferred Stock (the “Preferred”), by appropriate amendment of its Articles of Incorporation.

2.  The Preferred shall be convertible into Common Stock on a 1 for 1 basis, have a liquidation preference of $.0055 per Preferred Share, and shall vote equally with Common shares on a 1 for 1 basis on all matters brought before shareholders, including the election of Directors.

3.  Once said Preferred Class is established, thereafter at any time or from time to time over a five year term beginning on this date, the parties agree that Tangiers at its option shall have the right to exchange all or any part of the Common Shares issued to Tangiers by the Company pursuant to the attached Stock Purchase Agreement, for shares of the aforesaid Series A Convertible Preferred Stock, on a 1 for 1 basis.

4.  All Series A Convertible Preferred Shares issued to Tangiers upon exercise of the rights hereby granted, shall be restricted securities within the meaning of Rule 144 under the Securities Act and the certificate(s) representing such Preferred Shares will be stamped or otherwise imprinted with a legend substantially in the following form or other form as required by law:

 

  

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THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), OR UNDER THE SECURITIES LAWS OF ANY STATE. THESE SECURITIES ARE SUBJECT TO RESTRICTIONS ON TRANSFERABILITY AND RESALE AND MAY NOT BE SOLD OR OTHERWISE TRANSFERRED, PLEDGED OR HYPOTHECATED UNLESS AND UNTIL SUCH SECURITIES ARE REGISTERED UNDER SUCH ACT OR AN OPINION OF COUNSEL IS OBTAINED TO THE EFFECT THAT SUCH REGISTRATION IS NOT REQUIRED.

Wherefore the parties hereto have executed this Agreement effective as of the date set forth above.

 

	FROZEN FOOD GIFT GROUP, INC.	 
	 	 	 
	BY:		 
	 	Jonathan Irwin	 
	 	 	 
	TITLE: Chief Executive Officer	 
	 	 
	 	 
	TANGIERS INVESTORS, LP	 
	 	 	 
	BY: 		 
	 	Michael Sobeck	 
	 	 	 
	TITLE:	Managing Member	 

 

 

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