SEC Contract Filing

Filing Date: 2015-01-13

Document Content:
<DOCUMENT>
<TYPE>EX-10.27
<SEQUENCE>14
<FILENAME>f10k2014ex10xxvii_deepwell.htm
<DESCRIPTION>STOCK OPTION AGREEMENT ISSUED
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Exhibit
10.27</B></FONT></P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-transform: uppercase; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Deep
Well Oil &amp; Gas, Inc.<BR>
NON-Qualified STOCK OPTION AGREEMENT</B></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 36pt">This <B>NON-QUALIFIED STOCK
OPTION AGREEMENT </B>(the &ldquo;<I>Agreement</I>&rdquo;) is made this 17<SUP>th</SUP> day of November, 2014, by and between <B>Deep
Well Oil &amp; Gas, Inc.</B>, a Nevada corporation (the &ldquo;<I>Corporation</I>&rdquo;) and _____________________, an individual
resident of __________________ (&ldquo;<I>Optionee</I>&rdquo;).&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">1.&#9;<U>Grant
of Option</U></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 36pt">The Corporation hereby
grants Optionee the option (the &ldquo;<I>Option</I>&rdquo;) to purchase all or any part of an aggregate of 600,000 shares (the
&ldquo;<I>Shares</I>&rdquo;) of Common Stock of the Corporation at the exercise price of $0.23 US per share according to the terms
and conditions set forth in this Agreement and in the Deep Well Oil &amp; Gas, Inc. November 28, 2005 Stock Option Plan (the &ldquo;<I>Plan</I>&rdquo;).
The Option will not be treated as an incentive stock option within the meaning of Section 422 of the Internal Revenue Code of
1986, as amended (the &ldquo;<I>Code</I>&rdquo;). The Option is issued under the Plan and is subject to its terms and conditions.
A copy of the Plan will be furnished upon request of Optionee.&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 36pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
Option shall terminate at the close of business five years from the date hereof (the &ldquo;Option Termination Date&rdquo;).</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 36pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2.&#9;<U>Vesting
of Option Rights; Transferability</U></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 36pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(A)&#9;This
Option shall be exercisable, in whole or in part, according to the following vesting schedule:</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(i)&#9;
&nbsp;&nbsp;200,000 Shares immediately,</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(ii)&#9;
&nbsp;200,000 Shares on November 17, 2015,</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(iii)&#9;
200,000 Shares on November 17, 2016,</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">subject
to Optionee&rsquo;s continuing to provide services to the Corporation or any Subsidiary as an employee, director or consultant,
as the case may be, du