SEC Contract Filing

Filing Date: 2017-07-21

Document Content:
<DOCUMENT>
<TYPE>EX-10.13
<SEQUENCE>6
<FILENAME>bvtk_ex1013.htm
<DESCRIPTION>DIRECTOR AGREEMENT AND NONQUALIFIED STOCK OPTION AGREEMENT
<TEXT>

<html><head><title>bvtk_ex1013.htm</title><!--Document Created by EDGARMaster--></head><BODY style="text-align:justify;font:10pt TIMES NEW ROMAN;margin:0px 7%"><p style="MARGIN: 0px" align="right"><b>EXHIBIT 10.13</b></p>
<p style="MARGIN: 0px" align="center"><b></b>&nbsp;</p>
<p style="MARGIN: 0px" align="center"><b>ECRYPT TECHNOLOGIES, INC.</b></p>
<p style="MARGIN: 0px" align="center">NONQUALIFIED STOCK OPTION AGREEMENT</p>
<p style="MARGIN: 0px" align="center">&nbsp;</p>
<p style="MARGIN: 0px; TEXT-INDENT: 45px">THIS NONQUALIFIED STOCK OPTION AGREEMENT (this &#8220;Agreement&#8221;) dated as of the 26 day of August, 2015 between eCrypt Technologies, Inc., a Colorado corporation d/b/a Ecrypt Technologies, Inc., (the &#8220;Company&#8221;), and Hans A. Holmer (&#8220;Optionee&#8221;). </p>
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<td valign="top" width="4%">1.</td>
<td valign="top" width="96%"><u>Grant of Option</u>. The Company hereby grants to Optionee effective as of the 26 day of August, 2015 (&#8220;Grant Date&#8221;), the right and option (&#8220;Option&#8221;) to purchase from the Company, for a price equal to $0.01 per share (the &#8220;Exercise Price&#8221;), up to 750,000 shares of the Company&#8217;s common stock (&#8220;Shares&#8221;), as a nonqualified stock option (&#8220;Option&#8221;), which Option shall be subject to the applicable terms and conditions set forth below and is being granted pursuant to the eCrypt Technologies, Inc. Nonqualified Stock Option Plan (&#8220;Plan&#8221;), which Plan is part of the eCrypt Technologies, Inc. Stock Compensation Program (&#8220;Program&#8221;).</td></tr>
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<td valign="top">2.</td>
<td valign="top"><u>Terms and Conditions of Option</u>. The Option evidenced by this Agreement is subject to the following terms and conditions, as well as the terms and conditions of Section 3 hereof.</td></tr></tr></table></p>
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<td valign="top" width="4%">a.</td>
<td valign="top" width="92%"><u>Exercise Price</u>. The Exercise Price is $0.01 per Share.</td></tr>
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<td valign="top">b.</td>
<td valign="top"><u>Term of Option</u>. The term of the Option over which the Option may be exercised shall commence on the Grant Date and, subject to the provisions of Section 3(b) below, shall terminate tens years thereafter.</td></tr>
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<td valign="top">c.</td>
<td valign="top"><u>Exercisability of Option</u>. As to the total number of Shares with respect to which the Option is granted, the Option shall be exercisable as follows: (i) 25% of the Option in the aggregate may be exercised upon the mutual execution of this Agreement (ii) 50% of the Option in the aggregate may be exercised on or after the four month anniversary of the Grant Date; (iii) 75% of the Option in the aggregate may be exercised on or after the eight month anniversary of the Grant Date; and (iv) 100% of the Option in the aggregate may be exercised on or after the twelve month anniversary of the Grant Date.</td></tr></tr></tr></table></p>
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<td valign="top" width="4%">3.</td>
<td valign="top" width="96%"><u>Additional Terms and Conditions</u>.</td></tr></table></p>
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<td valign="top" width="4%">a.</td>
<td valign="top" width="92%"><u>Exercise of Option; Payments for Shares</u>. An Option may be exercised from time to time with respect to all or any portion of the number of Shares with respect to which the Option has become exercisable, in whole or in part, by written notice to the Company at the Company&#8217;s then principal office, to the attention of the Administrative Committee for the eCrypt Technologies, Inc. Nonqualified Stock Option Plan (the &#8220;Committee&#8221;), substantially in the form of Exhibit A attached hereto. Any notice of exercise of the Option shall be accompanied by payment of the full Exercise Price for the Shares being purchased by certified or bank check, or other form of immediately available funds, payable to the order of eCrypt Technologies, Inc. In addition, with the consent of the Committee, the Company may cooperate with Optionee in arranging a &#8220;cashless exercise&#8221; of the Option through a broker approved by the Committee. The Option shall not be exercised for any fractional Shares and no fractional Shares shall be issued or delivered. The date of actual receipt by the Company of the notice of exercise shall be treated as the date of exercise of the Option for the Shares being purchased.</td></tr></table></p>
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