Document:

Exhibit 10.1

 

 

 

OriginOil,
Inc.

RESTRICTED STOCK AWARD PLAN

 

 

This
OriginOil, Inc. Restricted
Stock Award Plan (the "Plan") is intended as an incentive, to
retain in the employ of and as directors, officers, consultants, advisors and employees to OriginOil, Inc. a Nevada corporation
(the “Company”), persons of training, experience and ability, to attract new directors, officers, consultants,
advisors and employees whose services are considered valuable, to encourage the sense of proprietorship and to stimulate the active
interest of such persons in the development and financial success of the Company.

The
Company intends that the Plan meet the requirements of Rule 16b-3 (“Rule 16b-3”) promulgated under the Securities
Exchange Act of 1934, as amended (the “Exchange Act”), and that transactions of the type specified in subparagraphs
(c) to (f) inclusive of Rule 16b-3 by officers and directors of the Company pursuant to the Plan will be exempt from the operation
of Section 16(b) of the Exchange Act. In all cases, the terms, provisions, conditions and limitations of the Plan shall be construed
and interpreted consistent with the Company’s intent as stated in these recitals.

 

		1.	Definitions.

 

		(a)	"Award" means the grant of a restricted
stock award to a Grantee pursuant to such terms, conditions and limitations as the Board or Committee may establish in order to
fulfill the objectives of the Plan.

 

		(b)	"Award Agreement" means an agreement between
the Company and a Grantee that sets forth the terms, conditions and limitations applicable to a Award.

 

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

 

		(d)	"Committee" means the Compensation Committee
of the Company's Board, or such other committee of the Board that is designated by the Board to administer the Plan, composed of
not less than two members of the Board who are (i) “Independent Directors” (as such term is defined under the rules
of the NASDAQ Stock Market), (ii) “Non-Employee Directors” (as such term is defined in Rule 16b-3) and (iii) “Outside
Directors” (as such term is defined in Section 162(m) of the Code), which shall serve at the pleasure of the Board. 

 

		(e)	“Common Stock” means the authorized common stock, par value $0.001 per share,
as described in the Company’s Articles of Incorporation.

 

		(f)	"Company" means OriginOil, Inc. and its
subsidiaries including subsidiaries of subsidiaries.

 

		(g)	“Eligible Individual” means an employee, officer, director, consultant or advisor
of the Company (provided that in the case of any consultant or advisor, such persons are natural persons, provide bona fide services
to the Company and the services are not in connection with any offer or sale of securities in a capital raising transaction and
do not directly or indirectly promote or maintain a market for the Company’s securities).

 

    	1

    	 

    

 

		(h)	"Fair Market Value" means the fair market
value of the Company's issued and outstanding Stock as determined in good faith by the Board or Committee.

 

		(i)	"Grantee" means an Eligible Individual to
whom an award has been made under the Plan.

 

		(j)	"Securities Act" means the Securities Act
of 1933, as amended from time to time.

 

		(k)	"Stock" - means the Company’s Common
Stock, or any other securities that are substituted for Stock as provided in Section 7.

 

		2.	Administration. The Plan shall be administered by
the Board, provided however, that the Board may delegate such administration to the Committee. Subject to the provisions of the
Plan, the Board or the Committee shall have authority to (a) grant in its discretion Awards; (b) determine in good faith the fair
market value of the Stock covered by any Awards; (c) determine which Eligible Individuals shall receive Awards and the number of
shares, restrictions, terms and conditions to be included in such Awards; (d) construe and interpret the Plan; (e) promulgate,
amend and rescind rules and regulations relating to its administration, and correct defects, omissions and inconsistencies in the
Plan or any Awards; (f) consistent with the Plan and with the consent of the Grantee, as appropriate, amend any outstanding Awards;
(g) determine the duration and purpose of leaves of absence which may be granted to Grantees without constituting termination of
their employment for the purpose of the Plan or any Awards; and (h) make all other determinations necessary or advisable for the
Plan's administration. The interpretation and construction by the Board of any provisions of the Plan or selection of Grantees
shall be conclusive and final. No member of the Board or the Committee shall be liable for any action or determination made in
good faith with respect to the Plan or any Award made thereunder.

 

		3.	Stock.

		(a)	Authorized Stock: Stock subject to Awards may be either unissued or reacquired Stock.

 

		(b)	Number of Shares: Subject to adjustment as provided in Section 7 of the Plan, the total
number of shares of Stock which may be purchased or granted directly by Awards shall not exceed 70,000,000 (Seventy Million). If
any shares of Stock subject to an Award are forfeited or if any Award is otherwise terminated without issuance of shares of Stock,
the shares of Stock subject to such Award shall to the extent of such forfeiture or termination, again be available for Awards
under the Plan.

 

		(c)	Reservation of Shares: The Company shall reserve and keep available at all times during
the term of the Plan such number of shares as shall be sufficient to satisfy the requirements of the Plan. If, after reasonable
efforts, which efforts shall not include the registration of the Plan or Awards under the Securities Act, the Company is unable
to obtain authority from any applicable regulatory body, which authorization is deemed necessary by legal counsel for the Company
for the lawful issuance of shares hereunder, the Company shall be relieved of any liability with respect to its failure to issue
and sell the shares for which such requisite authority was so deemed necessary unless and until such authority is obtained.

    	2

    	 

    

 

 

		4.	Eligibility and Participation. 

 

		(a)	Eligible Individuals Awards may be granted
pursuant to the Plan only to persons who are Eligible Individuals at the time of the grant thereof.

 

		(b)	Grant of Awards. Subject to the express provisions
of the Plan, the Board or Committee shall determine which Eligible Individuals shall be granted Awards from time to time. In making
grants, the Board or Committee shall take into consideration the contribution the potential Grantee has made or may make to the
success of the Company and such other considerations as the Board or Committee may from time to time specify. 

 

		(c)	Date of Grant. The date on which an Award is granted
shall be the date specified by the Board or Committee as the effective date or date of grant of an Award or, if the Board or Committee
does not so specify, shall be the date as of which the Board or Committee adopts the resolution approving the offer of an Award
to an individual, including the specification of the number (or method of determining the number) of shares of Stock, even though
certain terms of the Award Agreement may not be determined at that time and even though the Award Agreement may not be executed
or delivered until a later time. In no event shall a Grantee gain any rights in addition to those specified by the Board or Committee
in its grant, regardless of the time that may pass between the grant of the Award and the actual execution or delivery of the Award
Agreement by the Company or the Grantee. The Board or Committee may invalidate an Award at any time before the Award Agreement
is signed by the Grantee signature is required) or is delivered to the Grantee (if signature is not required), and such Award shall
be treated as never having been granted.

 

		(d)	Award Agreements. Each Award granted under the Plan
shall be evidenced by an Award Agreement that incorporates those terms that the Board or Committee shall deem necessary or desirable.
More than one Award may be granted under the Plan to the same Eligible Individual and be outstanding concurrently.

 

		(e)	No Right to Award. The adoption of the Plan shall
not be deemed to give any person a right to be granted an Award.

 

		5.	Restricted Stock Awards. All or part of any Awards under the Plan may be subject to conditions
established by the Board or the Committee, and set forth in the Award Agreement, which may include, but are not limited to, continuous
service with the Company, achievement of specific business objectives, increases in specified indices, attaining growth rates and
other comparable measurements of Company performance and shall
be subject to the terms and conditions set forth in this Section 5. 

 

		(a)	Restrictions.  All shares of Awards granted
pursuant to the Plan shall be subject to the following conditions:

 

(i)Transferability.  Subject
to applicable securities laws, the shares may not be sold, transferred or otherwise alienated or hypothecated until the shares
of Stock vest under the terms of the Award Agreement.

 

    	3

    	 

    

 

(ii)           Other
Conditions.  The Board or Committee may impose other conditions on any shares granted as Awards pursuant to the Plan
as it may deem advisable, including, without limitation, restrictions under the Securities Act, the requirements of any securities
exchange upon which the shares or shares of the same class are then listed, and any state securities law applicable to the shares.

 

		(b)	Expiration of Restrictions.  The restrictions
imposed in Section 5(a) on Awards shall lapse as determined by the Board or Committee and set forth in the applicable Award Agreement,
and the Company shall promptly cause to be delivered to the Grantee of the Award a certificate representing the number of shares
for which restrictions have lapsed, free of any restrictive legend relating to the lapsed restrictions.  Each Award may
have a different restriction period, in the discretion of the Board or Committee.  The Board or Committee may, in its
discretion, prospectively reduce the restriction period applicable to a particular Award.  

 

		(c)	Changes in Accounting Rules.  Notwithstanding
any other provision of the Plan to the contrary, if, during the term of the Plan, any changes in the financial or tax accounting
rules applicable to Awards shall occur that, in the sole judgment of the Board or Committee, may have a material adverse effect
on the reported earnings, assets, or liabilities of the Company, the Board or Committee shall have the right and power to modify
as necessary any then outstanding Awards as to which the applicable restrictions have not been satisfied.

 

		(d)	Rights as Stockholder.  The Board or Committee
may, in its discretion, determine what rights, if any, the Grantee shall have with respect to the Awards granted or sold, including
the right to vote the shares and receive all dividends and other distributions paid or made with respect thereto.

 

		(e)	Other Agreement Provisions.  The Award Agreements
relating to Awards shall contain such provisions in addition to those required by the Plan as the Board or Committee may deem advisable.

 

6.
Amendment, Modification, Suspension or Discontinuance of the Plan. The Board or Committee may, insofar as permitted by law,
from time to time, with respect to any shares at the time not subject to outstanding Awards, suspend or terminate the Plan or revise
or amend it in any respect whatsoever; provided, however, no such action shall alter or impair the rights and obligations in any
material respect under any Award outstanding as of the date thereof without the written consent of the Grantee thereunder. No Award
may be issued while the Plan is suspended or after it is terminated, but the rights and obligations under any Award issued while
the Plan is in effect shall not be impaired by suspension or termination of the Plan.

 

		7.	Capital Change of the Company. In the event of any change in the outstanding Stock by reason
of a stock split, stock dividend, combination or reclassification of shares, recapitalization, merger, or similar event, the Board
or the Committee may adjust proportionally the number of shares of Stock reserved under the Plan, and covered by outstanding Awards.
In the event of any other change affecting the Stock or any distribution (other than normal cash dividends) to holders of Stock,
such adjustments as may be deemed equitable by the Board or the Committee, including adjustments to avoid fractional shares, shall
be made to give proper effect to such event. In the event of a corporate merger, consolidation, acquisition of property or stock,
separation, reorganization or liquidation, the Board or the Committee shall be authorized to issue or assume Awards by means of
substitution of new Award Agreements for previously issued Awards or an assumption of previously issued Awards.

    	4

    	 

    

 

		8.	Tax Withholding. The Company shall have the right to deduct applicable taxes from any Award
payment and withhold, at the time of delivery of an Award or vesting of shares under an Award, an appropriate number of shares
for payment of taxes required by law or to take such other action as may be necessary in the opinion of the Company to satisfy
all obligations for withholding of such taxes. If Stock is used to satisfy tax withholding, such stock shall be valued based on
the Fair Market Value when the tax withholding is required to be made.

 

		9.	No Commitment to Retain. The grant of an Award pursuant to the Plan shall not be construed
to imply or to constitute evidence of any agreement, express or implied, on the part of the Company to retain the Grantee as an
employee or in any other capacity.

 

10.
Notice. Any written notice to the Company required by any of the provisions of the Plan shall be addressed to the chief
personnel officer or to the chief executive officer of the Company, and shall become effective when it is received by the office
of the chief personnel officer or the chief executive officer.

 

11.
Indemnification of Board. In addition to such other rights or indemnifications as they may have as directors or otherwise,
and to the extent allowed by applicable law, the members of the Board and the Committee shall be indemnified by the Company against
the reasonable expenses, including attorneys' fees, actually and necessarily incurred in connection with the defense of any claim,
action, suit or proceeding, or in connection with any appeal thereof, to which they or any of them may be a party by reason of
any action taken, or failure to act, under or in connection with the Plan or any Award granted thereunder, and against all amounts
paid by them in settlement thereof (provided such settlement is approved by independent legal counsel selected by the Company)
or paid by them in satisfaction of a judgment in any such claim, action, suit or proceeding, except in any case in relation to
matters as to which it shall be adjudged in such claim, action, suit or proceeding that such Board or Committee member is liable
for negligence or misconduct in the performance of his or her duties; provided that within sixty (60) days after institution of
any such action, suit or Board proceeding the member involved shall offer the Company, in writing, the opportunity, at its own
expense, to handle and defend the same.

 

12.
Governing Law. The Plan and all determinations made and actions taken pursuant hereto, to the extent not otherwise governed
by the Code or the securities laws of the United States, shall be governed by the law of the State of Nevada and construed accordingly.

 

13.
Effective and Termination Dates. The Plan shall become effective on the date it is adopted and approved by Board. The Plan
shall terminate ten years later, subject to earlier termination by the Board pursuant to Section 6.

 

The
foregoing OriginOil, Inc. Restricted Stock Award Plan was duly adopted and approved by the Board of Directors on November 13, 2014.

 

 

	 	OriginOil,
        Inc
	 	 
	 	By: 	/s/ T. Riggs Eckelberry
	 	 	T. Riggs Eckelberry
Chief Executive Officer

 

 

5Exhibit 10.2

ORIGINOIL, INC.

RESTRICTED STOCK AWARD AGREEMENT

 

This Restricted Stock Award
Agreement (the “Agreement”) is made and entered into as of  , (the “Effective Date”)
by and between OriginOil, Inc., a Nevada corporation (the “Company”), and the person named below (the “Grantee”).

 

Grantee:T. Riggs Eckelberry

Address: _________________

Total Number of Shares to Be Granted:40,000,000

 

1.Grant of Restricted
Stock. The Board of Directors of the Company, subject to the terms and provisions of the OriginOil, Inc. Restricted Stock
Award Plan, as amended (the “Plan”) hereby awards to the Grantee, effective as of the Effective Date, the number
of shares (the “Shares”) of common stock, par value $0.001 per share, set forth above as restricted stock (the
“Restricted Stock”) on the following terms and conditions. As used in this Agreement, the term “Shares”
shall mean shares of Restricted Stock granted under this Agreement, and all securities received (i) in replacement of the Shares,
(ii) as a result of stock dividends or stock splits with respect to the Shares, (iii) in replacement of the Shares in a merger,
recapitalization, reorganization or similar corporate transaction; and (iv) pursuant to an adjustment to the number of Shares issuable
on any vesting date by virtue of Section 2.6 of this Agreement.

 

2.Eligibility for Vesting and
Issuance. The Shares of Restricted Stock shall become eligible for vesting, and shall vest and be issued to the Grantee,
upon the satisfaction of the conditions set forth in Section 2.1 and 2.2 of this Agreement. The Restricted Shares are forfeitable
as set forth in Section 2.3 and Section 2.4 of this Agreement.

 

2.1Schedule of Company
Performance Goals. Shares of Restricted Stock shall become eligible for vesting (and shall become “Eligible Restricted
Shares”) for each Company Performance Goal attained as follows:

 

 

	Restricted Shares	Company Performance Goals
	40%	
        The Company's Market Capitalization exceeds
        $15,000,000.  Market Capitalization shall mean the total number of shares of issued and outstanding common stock, multiplied
        by the average closing trade price of the Company's common stock on the 10 trading days immediately  prior to the date of
        determination.

         

	60%	The Company's Market Capitalization exceeds $20,000,000.  Market Capitalization shall mean the total number of shares of issued and outstanding common stock, multiplied by the average closing trade price of the Company's common stock on the 10 trading days immediately  prior to the date of determination.

 

    	1

    	 

    

 

2.2Vesting and
Issuance of Eligible Restricted Shares. Eligible Restricted Shares shall vest, beginning upon the earlier of (i) July 1, 2015,
and (ii) the first date that any other Eligible Individual’s shares of restricted stock become eligible for monthly vesting
under an Award Agreement entered into with such Eligible Individual (the “Vesting Commencement Date”), as follows.
From and after the Vesting Commencement Date, the Eligible Restricted Shares shall vest on a monthly basis, based on the following
formula:

 

	 	 	Vesting Percentage
x Prior Monthly Trade Value	 
	 	Monthly Vested Shares =	 Fair Market
Value of the Company’s Shares	 
	 	 	 	 

 

 

For the purposes of this
Agreement,

 

(i) the “Prior
Monthly Trade Value” of the Company’s Shares shall mean the aggregate sum of the Daily Trade Value in the calendar
month immediately before the date of determination.

 

(ii)the “Daily
Trade Value” is defined as the closing trade price of the Company’s Shares multiplied by the daily trade volume. For
example, if the closing trade price was $1.00 and the daily trade volume on that day was 500,000 shares, then the Daily Trade Value
for that day would be $500,000.

 

(iii)the “Vesting
Percentage” shall mean the product (expressed as a percentage) of (a) 10%, multiplied by (b) a fraction, (1) the numerator
of which is the number of Eligible Restricted Shares at the date of determination, and (2) the denominator of which shall
be the number of shares issued under the Plan at the date of determination, and which shall initially be 66,050,000. For example,
if the numerator is 16,000,000 and the denominator is 66,050,000, then the Vesting Percentage shall be 2.4224%.

(iv)the
“Fair Market Value” shall equal the average of the trailing ten (10) closing trade prices of the Company’s common
stock on the last ten (10) trading days of the month immediately prior to the date of determination as quoted on the public securities
trading market on which the Company’s common stock is then traded; provided, that if the Company’s common stock is
not then publicly trading or quoted, “Fair Market Value” shall be determined by the Company’s Board of Directors
in good faith.

 

If the Company’s
common stock is no longer publicly traded, then the Board of Directors in good faith shall determine the Monthly Vested Shares.

 

If the Prior Monthly Trade
Value is less than $50,000, then zero Eligible Restricted Shares shall vest for that month.

 

By way of example only,
if the Vesting Percentage is 2.4224%, the Prior Monthly Trade Value is $10,000,000 and the Fair Market Value is $1.00, then the
number of Monthly Vested Shares shall be 242,241.

 

The Monthly Vested Shares,
if any, shall be issued to the Grantee within five (5) business days after the last day of each month.

 

    	2

    	 

    

 

2.3Forfeiture.
Grantee shall forfeit all vesting rights for any Eligible Restricted Shares that have not vested within five (5) years of the date
that the Eligible Restricted Shares became eligible for vesting.

 

2.4Termination.
If the Grantee ceases to provide any services to the Company as officer, director, employee or consultant, for any reason before
the date that the Company Performance Goals have been met (it being understood that if the Grantee continues without interruption
to serve thereafter in one or more capacities as officer, director, employee or consultant of the Company this shall not be considered
a cessation of service), then the Shares of Restricted Stock associated with the unmet Company Performance Goals as of the date
of such cessation of services shall immediately be forfeited as of the date of such cessation of services. The Eligible Restricted
Shares associated with any Company Performance Goals met prior to the date the Grantee ceases to provide any services to the Company
shall continue to vest in accordance with Sections 2.2 of this Agreement.

2.5Title to Shares.
The exact spelling of the name(s) under which Grantee shall take title to the Shares is:

Grantee desires
to take title to the Shares as follows:

[ ]Individual,
as separate property

[ ]Husband
and wife, as community property

[ ]Joint
Tenants

2.6Adjustment
to Number of Shares. The Company agrees that if the Fair Market Value of the Company’s common stock on the Monthly Vesting
Date is less than the Fair Market Value of the Company’s common stock on the Effective Date, then the number of Monthly Vested
Shares issuable (assuming all conditions are satisfied) within ten business days of the Monthly Vesting Date shall be increased
so that the aggregate Fair Market Value of Monthly Vested Shares issuable equals the aggregate Fair Market Value that such number
of Shares would have had on the Effective Date.

 

3.Representations and Warranties of Grantee.
Grantee represents and warrants to the Company that:

3.1Agrees to Terms of this
Agreement. Grantee has received a copy of this Agreement and the Plan, has read and understands the terms of this Agreement
and the Plan, and agrees to be bound by its terms and conditions.

3.2Access to Information.
Grantee has had access to all information regarding the Company and its present and prospective business, assets, liabilities and
financial condition that Grantee reasonably considers important in making the decision to acquire the Shares, and Grantee has had
ample opportunity to ask questions of the Company's representatives concerning such matters and this investment.

    	3

    	 

    

 

3.3Understanding of Risks.
Grantee is fully aware of: (i) the highly speculative nature of the investment in the Shares; (ii) the financial hazards involved;
(iii) the qualifications and backgrounds of the management of the Company; and (iv)the tax consequences of investment in the Shares.
Grantee is capable of evaluating the merits and risks of this investment, has the ability to protect Grantee's own interests in
this transaction and is financially capable of bearing a total loss of this investment.

4.Form
S-8. The Company shall use commercially reasonable efforts to file a Form S-8 with the U.S. Securities and Exchange Commission
to register the Shares of Restricted Stock.

5.Restrictions
on Transfer. Until the Shares of Restricted Stock vest in accordance with the terms herein, the Grantee shall not transfer
the Grantee’s rights to such Shares of Restricted Stock or to any rights related thereto.  Any attempt to transfer unvested
Shares of Restricted Stock or any rights related thereto, whether by transfer, pledge, hypothecation or otherwise and whether voluntary
or involuntary, by operation of law or otherwise, shall not vest the transferee with any interest or right in or with respect to
such Shares of Restricted Stock or such related rights.

6.Market Standoff Agreement.
Grantee agrees in connection with any registration of the Company's securities that, upon the request of the Company or the underwriters
managing any public offering of the Company's securities, Grantee shall not sell or otherwise dispose of any Eligible Restricted
Shares without the prior written consent of the Company or such underwriters, as the case may be, for such period of time (not
to exceed one hundred eighty (180) days) after the effective date of such registration requested by such underwriters and subject
to all restrictions as the Company or the underwriters may specify. Grantee further agrees to enter into any agreement reasonably
required by the underwriters to implement the foregoing.

7.Rights as a Stockholder.
Subject to the terms and conditions of this Agreement, Grantee shall have all of the rights of a stockholder of the Company with
respect to the Shares after the Shares of Restricted Stock vest and until such time as Grantee disposes of the Shares.

 

8.Tax Consequences.
GRANTEE UNDERSTANDS THAT GRANTEE MAY SUFFER ADVERSE TAX CONSEQUENCES AS A RESULT OF GRANTEE'S ACQUISITION OR DISPOSITION OF THE
SHARES. GRANTEE REPRESENTS (i) THAT GRANTEE HAS CONSULTED WITH A TAX ADVISER THAT GRANTEE DEEMS ADVISABLE IN CONNECTION WITH THE
ACQUISITION OR DISPOSITION OF THE SHARES AND (ii) THAT GRANTEE IS NOT RELYING ON THE COMPANY FOR ANY TAX ADVICE.

 

9.Compliance with Laws and Regulations.
The issuance and transfer of the Shares of Restricted Stock shall be subject to and conditioned upon compliance by the Company
and Grantee with all applicable state and federal laws and regulations and with all applicable requirements of any stock exchange
or automated quotation system on which the Company's common stock may be listed or quoted at the time of such issuance or transfer.

    	4

    	 

    

 

10.Agreement
Subject to Plan. This Award is made pursuant to the Plan and shall be interpreted to comply therewith. A copy of such Plan
is available to Grantee, at no charge, at the principal office of the Company. Any undefined terms used herein shall bear such
meaning as ascribed to them in the Plan. Any provision of this Agreement inconsistent with the Plan shall be considered void and
replaced with the applicable provision of the Plan.

 

11.Successors and Assigns.
The Company may assign any of its rights under this Agreement. This Agreement shall be binding upon and inure to the benefit
of the successors and assigns of the Company. Subject to the restrictions on transfer herein set forth, this Agreement shall be
binding upon Grantee and Grantee's heirs, executors, administrators, legal representatives, successors and assigns.

 

12.Governing Law; Severability.
This Agreement shall be governed by and construed in accordance with the internal laws of the State of Nevada as such laws are
applied to agreements between Nevada residents entered into and to be performed entirely within Nevada, excluding that body
of laws pertaining to conflict of laws. If any provision of this Agreement is determined by a court of law to be illegal or unenforceable,
then such provision shall be enforced to the maximum extent possible and the other provisions shall remain fully effective and
enforceable.

 

13.Notices.
Any notice required to be given or delivered to the Company shall be in writing and addressed to the Corporate Secretary of the
Company at its principal corporate offices. Any notice required to be given or delivered to Grantee shall be in writing and addressed
to Grantee at the address indicated above or to such other address as Grantee may designate in writing from time to time to the
Company. All notices shall be deemed effectively given upon personal delivery, (i) three (3) days after deposit in the United States
mail by certified or registered mail (return receipt requested), (ii) one (1) business day after its deposit with any return receipt
express courier (prepaid), or (iii) one (1) business day after transmission by facsimile or email.

 

14.Further Instruments.
The parties agree to execute such further instruments and to take such further action as may be reasonably necessary to carry out
the purposes and intent of this Agreement.

 

15.Headings;
Counterparts. The captions and headings of this Agreement are included for ease of reference only and shall be disregarded
in interpreting or construing this Agreement. All references herein to Sections shall refer to Sections of this Agreement. This
Agreement may be executed in any number of counterparts, each of which when so executed and delivered shall be deemed an original,
and all of which together shall constitute one and the same agreement.

 

16.Entire Agreement.
This Agreement constitutes the entire agreement and understanding of the parties with respect to the subject matter of this Agreement,
and supersedes all prior understandings and agreements, whether oral or written, between the parties hereto with respect to the
specific subject matter of this Agreement.

 

17.Equitable
Adjustments. The number of Restricted Shares, Monthly Vested Shares, Eligible Restricted Shares and Shares, the Company’s
Market Capitalization and similar figures set forth herein shall be equitably adjusted in the sole discretion of the Company to
offset the effect of stock splits or similar events.

 

[Intentionally blank]

 

 

    	5

    	 

    

 

IN WITNESS WHEREOF, the
Company has caused this Agreement to be executed by its duly authorized representative and Grantee has executed this Agreement
as of the Effective Date.

 

	OriginOil, Inc.	 	Grantee
	 	 	 
	By:	 	
	 	 	(Signature)
	 	 	 
	(Please print name)	 	 (Please print name)
	 	 	 
	Chief Executive Officer	 	 
	(Please print title)	 	 
		 	 

 

 

    	6

    	 

    

Spouse Consent

The undersigned
spouse of _______________________ (the “Grantee”) has read, understands, and hereby approves
the Restricted Stock Grant Agreement between OriginOil, Inc., a Nevada corporation (the “Company”)
and Grantee (the “Agreement”). In consideration of the Company's granting my spouse the right
to purchase the Shares as set forth in the Agreement, the undersigned hereby agrees to be irrevocably bound by the Agreement and
further agrees that any community property interest shall similarly be bound by the Agreement. The undersigned hereby appoints
Grantee as my attorney-in-fact with respect to any amendment or exercise of any rights under the Agreement.

Date:________________________________

	 	 	 
	Print Name of Grantee's Spouse	 	Signature
of Grantee's Spouse
	 	 	 
	 	 	Address:
	 	 	 
	(Please print title)	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	☐ Check this box if you do not have a spouse.

7

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00237-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00237-of-00352.parquet"}]]