Document:

EXHIBIT 10.1

                            CORONADO INDUSTRIES, INC.

                        2003 EXECUTIVE STOCK OPTION PLAN

     I.   PURPOSE

          This  2003  Executive   Stock  Option  Plan  is  intended  to  aid  in
maintaining and developing strong management  through  encouraging the ownership
of common stock of Coronado Industries,  Inc. by employees of and consultants to
the   Corporation   through   stimulating   their  efforts  by  giving  suitable
recognition,  in addition to salaries and bonuses, to their ability and industry
which  contribute  materially  to  the  success  of the  Corporation's  business
interests.

     II.  DEFINITIONS

          In this Plan, except where the context  otherwise  clearly  indicates,
the following definitions apply:

          (1)  "Board" means the Board of Directors of the Corporation.

          (2)  "Corporation"   means   Coronado   Industries,   Inc.,  a  Nevada
corporation,  or any entity that,  directly or  indirectly,  through one or more
intermediaries,  controls,  is  controlled  by or is under  common  control with
Coronado Industries, Inc.

          (3)  "Date of Grant"  means the date on which the Board  approves  the
grant of the Option under this Plan to the Optionee.

          (4)  "Incentive Stock Option" means any Option granted under this Plan
which complies with the provisions of Section 422A of the Internal  Revenue Code
of 1986, as amended from time to time (herein called the "Code").

          (4)  "Key  Employee"  means  any  employee  who  is an  officer  or is
employed  in  a  managerial,  professional  or  other  key  position  (including
directors  who provide  services  beyond the normal  activities  of a director);
provided,  however,  the term "Key  Employee"  shall not  include  any  employee
(hereinafter called "Shareholder  Employee") of the Corporation who, at the date
of grant, owns more than ten percent (10%) of the total combined voting power of
all  classes  of stock of the  Corporation  (or its  parent  or  subsidiary,  if
applicable).  For  the  purposes  of  this  limitation,  an  employee  shall  be
considered as owning Shares owned  directly or indirectly by or for his brothers

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and sisters, spouse, ancestors and lineal descendants;  and stock owned directly
or indirectly  by or for a  corporation,  partnership,  estate or trust shall be
considered as being owned  proportionately by or for its shareholders,  partners
or beneficiaries.

          (5)  "Non-Qualified  Stock Option" means any Option granted under this
Plan which does not qualify in whole or in part as an  "incentive  stock option"
under the provisions of Section 422A of the Code.

          (6)  "Option"  means a common  stock  option  granted  pursuant to the
Plan.

          (7)  "Optionee" means a person or entity to whom a common stock option
is granted under this Plan, including, but not limited to, a Key Employee.

          (8)  "Plan" means this 2003 Executive Stock Option Plan.

          (9)  "Share"  means a share of the $.001 par value common stock of the
Corporation  that has been  previously  authorized  but unissued,  or issued and
reacquired by the Corporation.

          (10) "Value" means the arithmetic mean between the bid and asked price
published by the National Association of Securities Dealers, Inc. (or registered
securities  exchange  or NASDAQ,  if  appropriate)  of the Shares on the date of
grant, or if not available for that day, then the next earliest preceding day in
which the price is  available.  If the Shares should become listed on a national
registered  securities  exchange,  then the Value shall be the reported  closing
price for the day in question.  In all other cases,  the Value shall be the fair
market value determined by the method the Board deems reasonable. Value shall be
determined  without  regard  to  securities  law  restrictions,   or  any  other
restriction which by its terms will lapse.

     III. TERM OF PLAN

          This Plan shall become  effective  upon its adoption by the Board.  It
shall continue in effect for a term of ten years unless sooner  terminated under
Article XI. This Plan shall  remain in effect  after its term for the purpose of
administration  of any Option  granted  pursuant  to its  provisions.  No Option

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granted  during the term of the Plan shall be  adversely  affected by the end of
the term of this Plan.  Options must be granted  within ten years of the date on
which the Plan is adopted or the date the Plan is approved by the  stockholders,
whichever is earlier.

     IV.  SHARES TO BE OPTIONED

          The maximum number of Shares which may be optioned and sold under this
Plan is 50,894,000 Shares. If Options granted under this Plan shall terminate or
expire  without  being wholly  exercised,  new Options may be granted under this
Plan  covering  the number of Shares to which  such  termination  or  expiration
relates.

     V.   ADMINISTRATION OF THE PLAN

          The Plan  shall be  administered  by the  Board  of  Directors  of the
Corporation, or a committee of Board members, if such is appointed.

     VI.  INCENTIVE STOCK OPTIONS

          One or more  Incentive  Stock  Options may be granted to any  Optionee
under this Plan. Each Incentive Stock Option granted under this Article VI shall
be subject to the  following  conditions  except as  provided  in Article  VI(7)
below:

          (1)  The aggregate  Value  (determined at the time the Incentive Stock
Option is  granted)  of the  Shares  for which any Key  Employee  may be granted
Incentive  Stock Options in any calendar  year under all Incentive  Stock Option
plans of the Corporation shall not exceed $100,000.

          (2)  The Option price shall be at least one hundred  percent (100%) of
the Value of the Share at the date of  grant;  or, in the case of a  Shareholder
Employee  as defined in Article  II(5),  the Option  price shall be at least one
hundred ten percent (110%) of the Value of the Share at the Date of Grant.

          (3)  During the Optionee's  lifetime,  Incentive Stock Options granted
under this Article VI may not be sold,  pledged,  assigned or transferred in any
manner, and may be exercised during lifetime only by the Optionee. Any Incentive
Stock Option that is exercisable  after the  Optionee's  death is exercisable by

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the person or persons to whom his rights  under the Option  shall have passed by
will or the laws of descent and distribution.

          (4)  Each  Incentive  Stock Option granted under this Article VI shall
be  exercised  during the period  beginning  one year from the Date of Grant and
ending on the ten (10) year anniversary of the Date of Grant; provided, however,
that a  Shareholder  Employee  as defined in Article  II(5) must  exercise  each
Incentive  Stock Option during the period  beginning one year from Date of Grant
and ending on the five (5) year anniversary of the Date of Grant.

          (5)  An Incentive  Stock Option shall be exercised when written notice
of such exercise is given to the Corporation at its principal business office by
the Optionee and full payment for the Shares with respect to which the Option is
exercised has been received by the Corporation. Until the Incentive Stock Option
is properly  exercised and the exercise price paid to the Corporation,  no right
to vote or receive  dividends or any other rights as a  stockholder  shall exist
with respect to the optioned Shares  notwithstanding the exercise of the Option.
No  adjustment  will be made for a dividend or other rights for which the record
date is prior to the date that the stock certificate is issued.  Payment for the
Shares shall be made with cash,  previously acquired Shares having a Value equal
to the Option price, or previously  acquired Shares having a Value less than the
Option price,  plus cash. Upon exercise of an Incentive Stock Option and payment
of the purchase price,  the  Corporation  shall promptly issue the Shares to the
Optionee.

          (6)  In the event an Optionee  who is an  Employee of the  Corporation
who during his lifetime ceases to be employed by the Corporation for any reason,
any Incentive  Stock Option or unexercised  portion  thereof which was otherwise
exercisable  on the  date of  termination  of  employment  shall  expire  unless
exercised  within a period  of three  (3)  months  from the date his  employment
terminates, but in no event later than ten (10) years from the Date of Grant. In
the event of the death of an Optionee  (who is an  employee of the  Corporation)
during the three (3) month period,  the Incentive  Stock Option may be exercised
by the person or persons to whom his rights  under the Option  passed by will or
laws of descent and  distribution  to the same extent and during the same period
that the  Optionee  could have  exercised  the  Incentive  Stock  Option had the
Optionee not died. If an Optionee dies while  employed by the  Corporation,  any
Option or  unexercised  portion  thereof which was otherwise  exercisable at the
time of the Optionee's  death may be exercised  within twelve (12) months of the

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Optionee's  death,  but in no event  later  than ten (10) years from the Date of
Grant,  by the person or persons to whom his rights  under the Option  passed by
will or laws of  descent of  distribution.  In the event an  Optionee  who is an
Employee of the Corporation ceases to be employed by the Corporation  because he
has become "disabled" as defined by Section 22(e)3 of the Internal Revenue Code,
as amended, such Optionee may exercise any Option or unexercised portion thereof
within 12 months from the date his employment terminates,  but in no event later
than ten (10) years from the Date of Grant. An Optionee's  continuous employment
shall  not  be  deemed  interrupted  by a  leave  of  absence  approved  by  the
Corporation.

          (7)  All of the above notwithstanding, in the event that any Incentive
Stock  Option  granted  under this  Article VI fails to qualify as an  incentive
stock option as defined in Section 422A of the Internal Revenue Code of 1954, as
amended, for any reason whatsoever,  such option shall automatically,  effective
as of the date of grant, be a Non-qualified Stock Option, with the same exercise
terms as originally  granted except that all  limitations  herein which apply to
qualification as an Incentive Stock Option,  including but not limited to, terms
concerning employment and valuation, shall be inapplicable.

     VII. NON-QUALIFIED STOCK OPTIONS

          One or more Non-qualified Stock Options may be granted to any Optionee
under this Plan. Each Non-qualified  Stock Option granted under this Article VII
shall be subject to the following conditions:

          (1)  The Option  price  shall be at least fifty  percent  (50%) of the
Value of the Share at the Date of Grant.

          (2)  During  the  Optionee's  lifetime,  Non-qualified  Stock  Options
granted under this Article VII may not be sold, pledged, assigned or transferred
in any manner,  and may be exercised during the Optionee's  lifetime only by the
Optionee.  Any  Option  that  is  exercisable  after  the  Optionee's  death  is

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exercisable  by the person or persons to whom his rights  under the Option shall
have passed by will or the laws of descent and distribution.

          (3)  Each  Non-qualified  Stock Option  granted under this Article VII
shall be exercised  during the period  beginning on the Date of Grant and ending
on the ten (10) year anniversary of the Date of Grant.

          (4)  A  Non-qualified  Stock Option  shall be  exercised  when written
notice of such exercise is given to the  Corporation  at its principal  business
office by the Optionee and full payment for the Shares with respect to which the
option is exercised has been received by the Corporation.  Until the issuance of
the stock  certificates,  no right to vote or to receive  dividends or any other
rights  as a  stockholder  shall  exist  with  respect  to the  optioned  Shares
notwithstanding  the exercise of the Option.  No  adjustment  will be made for a
dividend or other rights for which the record date is prior to the date that the
stock  certificate  is issued.  Payment for the Shares  shall be made with cash,
previously  acquired  Shares  having  a Value  equal  to the  Option  price,  or
previously acquired Shares having a Value less than the Option price, plus cash.
Upon exercise of  Non-qualified  Stock Option and payment of the purchase price,
the Corporation shall promptly issue the Shares to the Optionee.

          (5)  In the event an Optionee  who is an  Employee of the  Corporation
who during his lifetime ceases to be employed by the Corporation for any reason,
any  Non-qualified  Stock  Option  or  unexercised  portion  thereof  which  was
otherwise  exercisable  on the date of  termination  of employment  shall expire
unless  exercised  within  a  period  of  three  (3)  months  from  the date his
employment  terminates,  but in no event later than ten (10) years from the Date
of Grant.  In the event of the death of an  Optionee  (who is an employee of the
Corporation)  during the three (3) month period, the Non-qualified  Stock Option
may be  exercised  by the person or persons to whom his rights  under the Option
passed by will or laws of descent and distribution to the same extent and during
the same period that the Optionee could have exercised the  Non-qualified  Stock
Option had the  Optionee  not died.  If an Optionee  dies while  employed by the
Corporation, any Non-qualified Stock Option or unexercised portion thereof which
was otherwise  exercisable at the time of the Optionee's  death may be exercised
within twelve (12) months of the  Optionee's  death,  but in no event later than
ten (10)  years  from the Date of Grant,  by the  person or  persons to whom his
rights under the Option  passed by will or laws of descent or  distribution.  An

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Optionee's  continuous  employment shall not be deemed interrupted by a leave of
absence approved by the Corporation.

     VIII. ADJUSTMENTS UPON CHANGES IN CAPITALIZATION

          Whenever a stock  split or stock  dividend  occurs,  (1) the number of
Shares that can thereafter be purchased,  and the Option price per Share,  under
each Option that has been  granted  under this Plan and not  exercised,  and (2)
every  number of Shares  used in  determining  whether  a  particular  Option is
grantable thereafter, shall be appropriately adjusted.

     IX.  CORPORATE TRANSACTIONS

          (1)  If the  Corporation is dissolved or  liquidated,  or is merged or
consolidated  into or with  another  corporation,  other  than  by a  merger  or
consolidation  in which  the  Company  is the  surviving  corporation,  the then
exercisable  and  unexercised  Options  granted under the Plan may or may not be
exercisable  after  the  date  of  such  dissolution,   liquidation,  merger  or
consolidation,  as  determined  by the Board at the time of such event or at the
Date of Grant of the Option.

          (2)  Notwithstanding   any  provision  of  this  Plan,  the  Board  is
authorized  to take  such  action  upon the Date of Grant of an Option or at any
time  thereafter as it  determines  to be necessary or  advisable,  and fair and
equitable to  Optionees,  with respect to Options held by Optionees in the event
of a sale or transfer of all or substantially  all of the Company's  assets,  or
merger  or  consolidation  (other  than a merger or  consolidation  in which the
Company  is the  surviving  corporation  and no  shares  are  converted  into or
exchanged  for  securities,  cash or any other thing of value).  Such action may
include (but is not limited to) the following:

               (a)  Accelerating the  exercisability of any Option to permit its
exercise  in full during such  period as the  Committee  in its sole  discretion
shall  prescribe  following  the public  announcement  of a sale or  transfer of
assets or merger or consolidation.

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               (b)  Permitting  an  Optionee,  at any time during such period as
the Committee in its sole discretion shall prescribe  following the consummation
of such a merger,  consolidation or sale or transfer of assets, to surrender any
Option (or any portion thereof) to the Company for cancellation.

               (c)  Requiring   any   Optionee,   at  any  time   following  the
consummation of such a merger,  consolidation or sale or transfer of assets,  if
required by the terms of the  agreements  relating  thereto,  to  surrender  any
Option (or any portion thereof) to the Company in return for a substitute Option
which is issued by the corporation surviving such merger or consolidation or the
corporation  which acquired such assets (or by an affiliate of such corporation)
and which the Committee,  in its sole discretion,  determines to have a value to
the Optionee substantially equivalent to the value to the Optionee of the Option
(or portion thereof) so surrendered.

          (4)  Subject to any action which the  Committee  may take  pursuant to
the provisions of this Article IX, in the event of any merger,  consolidation or
sale or transfer of assets  referred  to in this  Article IX, upon any  exercise
thereafter of an Option,  and Optionee  shall,  at no additional cost other than
payment of the Option price,  be entitled to receive in lieu of Shares,  (i) the
number and class of Shares or other  security,  or (ii) the  amount of cash,  or
(iii)  property,  or (iv) a combination of the foregoing,  to which the Optionee
would have been entitled pursuant to the terms of such merger,  consolidation or
sale or transfer of assets,  if immediately  prior thereto the Optionee had been
the holder of record of the number of Shares for which such  Option  shall be so
exercised.

     X.   ADDITIONAL  PROVISIONS APPLICABLE TO OPTIONS AND CERTAIN POWERS OF THE
BOARD

          The Board, in addition to any other powers granted it hereunder, shall
have the power, subject to the express provisions of the Plan:

          (1)  To determine the provisions of the respective  Options other than
those provisions  expressly stated or limited herein, which terms and provisions
may be set forth in Option agreements:

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          (2)  Without  limiting the generality of the foregoing,  to provide in
Option agreements, in its discretion:

               (a)  For an agreement  by the Optionee to render  services to the
Corporation  upon  such  terms  and  conditions  as  shall be  specified  in the
agreement.

               (b)  For  restrictions  on the transfer,  sale, or disposition of
the stock to be issued to the Optionee upon the exercise of his Option.

          (3)  To require,  whether or not provided for in the pertinent  Option
or Option  agreement of any person  exercising an Option granted under the Plan,
at the time of such  exercise,  the  execution of any paper or the making of any
representation  or the giving of any  commitment  when the Board  shall,  in its
discretion,  deem necessary or advisable by reason of the securities laws of the
United States or of any State.

          (4)  To amend Options  previously  granted and outstanding  under this
Plan, but no amendment to any Option agreement shall be made without the consent
of the Optionee if such amendment  would adversely  affect the Optionee;  and no
amendment shall be made to any Option  agreement which would cause the inclusion
therein of any term or provisions  inconsistent with the Plan or Section 422A of
the Internal Revenue Code, as amended (if applicable).

          (5)  To grant Options after the date the Plan is adopted  provided the
Options  granted  are  specifically  contingent  upon  approval  of this Plan by
holders of a majority of the Corporation's outstanding common stock.

     XI.  POWER TO AMEND OR TERMINATE THE PLAN

          (1)  The Board may terminate this Plan at any time, or amend or modify
the  Plan  without  shareholder  approval  in such  respects  as it  shall  deem
advisable in order that Options  granted to Key  Employees  shall be  "Incentive
Stock Options" as defined in Section 422A of the Internal  Revenue Code of 1954,
as  amended,  or to conform to any change in the law, or in order to comply with
the  provisions  of any  rule or  regulations  of the  Securities  and  Exchange
Commission or other applicable  governmental  agency required to exempt the Plan
or any  transactions  under this Plan from the operation of Section 16(b) of the
Securities Exchange Act of 1934, as amended, or in any other respect which shall
not be inconsistent  with the provisions of Section 422A of the Internal Revenue

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Code of 1954,  as amended,  or Section 16(b) of the  Securities  Exchange Act of
1934, as amended.

          (2)  The Board may  terminate  this Plan.  Any  termination  shall not
affect stock options  already granted as those Options shall remain in force and
effect  as if  this  Plan  had  not  been  terminated.  The  termination  or any
modification  or  amendment  of this Plan shall not,  without the consent of the
Optionee, affect his rights under an Option previously granted to him.

          (3)  Only with  shareholder  approval  can the Board amend the Plan in
the following areas:

               (a)  Increasing   the  maximum  number  of  Shares  that  may  be
effectively  optioned,  otherwise  than  through  the  making  of an  adjustment
pursuant to Article IX.

               (b)  Changing the class of employees eligible for Options.

               (c)  Decreasing the prices at which  previously  granted  Options
may be exercised.

     XII. STOCKHOLDER APPROVAL

          This Plan shall become  effective  upon receipt by the  Corporation of
approval  from the  holders of a majority  of the shares of common  stock of the
Corporation  entitled to vote thereon.  This Plan shall not be effective  unless
such consents are obtained within twelve (12) months before or after the Plan is
adopted.

                                            CORONADO INDUSTRIES, INC.

                                            By: /s/ Gary R. Smith
                                                --------------------------------
                                                Gary R. Smith, President

ATTEST:

/s/ G. Richard Smith
---------------------------
G. Richard Smith, Secretary

Date Approved By Shareholders: September 19, 2003

                                       10EXHIBIT 10.2

                           CORONADO INDUSTRIES, INC.

                             STOCK OPTION AGREEMENT
                     UNDER 2003 EXECUTIVE STOCK OPTION PLAN

                                                Date of Grant: ___________, 2003

     CONSULT YOUR PERSONAL TAX ADVISOR: SUBSTANTIAL TAX CONSEQUENCES WILL RESULT
FROM YOUR EXERCISE OF THIS STOCK OPTION

     CORONADO INDUSTRIES,  INC., a Nevada corporation (the "Corporation") hereby
grants to _____________  (the "Optionee"),  pursuant to the 2003 Executive Stock
Option Plan of the  Corporation  (the "Plan")  which is  incorporated  herein by
reference,  an option to  purchase a total of  __________________  (___________)
Shares as defined in the Plan (the  "Option"),  on the terms and  conditions set
forth in the Plan and  hereinafter.  This Option shall not be exercisable  later
than ______________, 2013 (herein referred to as the "Expiration Date").

     1.   VESTING.  Subject to the terms and conditions of this  Agreement,  the
Shares  subject  to this  Option  shall be fully  vested and  exercisable  as of
____________, 200_.

     2.   OPTION  PRICE.  The Option  price for the  ___________  Shares of this
Option shall be $.____ per share.

     3.   TERMINATION.  This option and all rights  hereunder to the extent such
rights shall not have been exercised shall terminate and become null and void if
the Optionee ceases to be a employee of the Company or its subsidiaries (whether
by resignation,  retirement,  dismissal, death or otherwise), except that (a) in
the event of the death or  disability  of the Optionee  while an employee of the
Company,  this  option  only to the extent  exercisable  at the date of death or
disability  may be  exercised  within the  applicable  period of time and by the
persons  indicated  in Article VII (6) of the Plan,  and (b) in the event of the
termination  of the  Optionee's  employment by the Company for any other reason,
this option only to the extent  exercisable at the date of such  termination may
be exercised  prior to the  expiration of three (3) months from the date of such
termination,  and shall terminate in all other respects; PROVIDED, HOWEVER, that
in no event may this option be exercised after the Expiration Date.

     4.   EXERCISE. This Option is exercisable with respect to all, or from time
to time with respect to any portion, of the Shares described above which have at
that time become vested, by delivering  written notice of such exercise,  in the

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form  prescribed by the Board,  to the principal  office of the Secretary of the
Corporation.  Each such notice  shall be  accompanied  by payment in full of the
Option price of such Shares.

     5.   NON-TRANSFERABLE.  This Option shall during the Optionee's lifetime be
exercisable  only by the  Optionee,  and  neither  this  Option  nor  any  right
thereunder  shall  be  transferable  except  by  will or  laws  of  descent  and
distribution,  or be subject to attachment,  execution or other similar process.
In the  event of any  attempt  by the  Optionee  to  alienate,  assign,  pledge,
hypothecate or otherwise dispose of the Option or any right  thereunder,  except
as provided for herein, or in the event of the levy of any attachment, execution
or similar process upon the rights or interest hereby conferred, the Corporation
may  terminate  this  Option by notice to the  Optionee  and this  Option  shall
thereupon become null and void.

     6.   LEGAL  RESTRICTIONS.  If the sale of the Shares purchased hereunder is
not  registered  under the Securities Act of 1933, but an exemption is available
which  requires  an  investment  or other  representation,  the  Optionee  shall
represent and agree at the time of exercise that the Shares being  acquired upon
exercising this Option are being acquired for  investment,  and not with view to
the sale or distribution  thereof, and shall make such other  representations as
are deemed  necessary or  appropriate  by the  Corporation  and its counsel.  In
addition,  the Optionee agrees that the following  legend may be included on the
certificate representing the Shares:

          The  shares  represented  hereby  have not been  registered  under the
United States Securities Act of 1933, as amended,  and may not be sold, pledged,
or otherwise  transferred without an effective  registration  thereof under such
act or an opinion of counsel,  satisfactory to the company and its counsel, that
such registration is not required.

     7.   CORPORATE TRANSACTIONS.

     (a) If the  Corporation  is merged  or  consolidated  into or with  another
corporation (other than by a merger or consolidation in which the Corporation is
the surviving  corporation) or the Corporation or the  Corporation's  assets are
purchased by another company in exchange for stock,  the Corporation  shall give
the  Optionee  written  notice  of  the  Corporation's  initial  or  preliminary
agreement to the transaction and the details of the transaction at least 60 days
prior to the closing of the transaction and an additional 30 days written notice
prior to the closing date of the transaction and each postponed  closing date of

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the  transaction.  The then  exercisable but  unexercised  Shares granted in the
Option may be exercised by the Optionee at any time prior to the closing date of
the  transaction and such exercised  Shares shall then be deemed  outstanding at
the close of the transaction.

     8.   TAX CONSEQUENCES.

     This Stock  Option is NOT intended as an  "Incentive  Stock  Option"  under
Section 422A of the Internal  Revenue Code of 1986, as amended.  Substantial tax
consequences  are involved in the decision to exercise  this Option.  Therefore,
the  Optionee  should  consult  with  and seek  advice  from  his  personal  tax
consultant prior to exercising this Option.

     9.   MISCELLANEOUS.

     (a) Neither the granting of this Option nor the exercise  thereof  shall be
construed  as  conferring  upon  the  Optionee  any  right  to  continue  in the
engagement of the Corporation or any of its subsidiaries, or as interfering with
or  restricting  in any way the  right  of the  Corporation  to  terminate  such
engagement at any time.

     (b) Neither the Optionee, nor any person entitled to exercise his rights in
the event of his  death,  shall  have any of the  rights of a  stockholder  with
respect  to the  Shares  subject  to this  Option,  except  after  such date the
Optionee  or such person has been  issued the Shares by the  Corporation  or its
agent.

     (c) The Corporation is relieved from any liability for the  non-issuance or
non-transfer  or any delay in the issuance or transfer of any Shares  subject to
this Option which results from the inability of the Corporation to obtain, or in
any delay in  obtaining,  from each  regulatory  body  having  jurisdiction  all
requisite   authority  to  issue  or  transfer  Shares  of  the  Corporation  in
satisfaction of this Option if counsel for the Corporation  deems such authority
necessary for the lawful issuance or transfer of any such shares.

     (d) No  Shares  acquired  by  exercise  of  this  Option  shall  be sold or
otherwise  disposed of in  violation of any federal or state  securities  law or
regulation in the Untied States.

                                       3
<PAGE>

     (e) This Option shall be exercised in accordance  with such  administrative
regulations  as the  Corporation's  Board  may  from  time  to time  adopt.  All
decisions of the Board upon any  legitimate  question  arising under the Plan or
under this Stock  Option  Agreement  shall be  conclusive  and binding  upon the
Optionee and all other persons, if determined in good faith.

     IN WITNESS WHEREOF, this Stock Option Agreement has been executed as of the
day and year first written above.

                                        CORONADO INDUSTRIES, INC.

                                        By: ____________________________
                                            Gary R. Smith, President

                                       4

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