EXHIBIT
4.03 Stock Option
IEG ENERGY GROUP, INC.
STOCK OPTION AGREEMENT
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1. All previous agreements to grant options or to purchase stock of IEG Energy
Group, Inc. ("IEG") between the parties hereto are hereby voided and are of
no legal force or effect; including a signed option dated in error October
30, 2004.
2. In consideration of One Dollar (US$1.00), the receipt of which is hereby
acknowledged, IEG hereby grants to HAL Energy International, Inc. ("HAL")
of ▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇, ▇▇▇▇▇ ▇▇▇▇, ▇▇▇▇▇ ▇▇▇▇▇, an immediately exercisable
Option (the "Option") to purchase 3,000,000 shares of Class A common stock
of IEG. This Option can be exercised only once and with the payment of
US$1,000,000.00 by HAL to IEG.
3. The initial exercise price of the Option is US$0.333333 per share of Class
A common stock of IEG.
4. If HAL fails to exercise the Option by 12:01 A.M. CST on December 15, 2003,
then the exercise price of the Option shall automatically and without
notice change to the greater of:
(i) US$0.333333 per share,
or,
(ii) the highest price of new issue Class A common stock of IEG that IEG
sells to a bona fide investor during the period beginning 12:01 A.M. CST on
November 12, 2003 and ending at the time that HAL exercises the Option.
5. This Option shall automatically and without notice expire at 11:59 P.M. CST
on January 13, 2004.
6. This Stock Option Agreement is deemed issued by IEG on October 30, 2003.
[Signatures Appear on the Next Page]
AGREED:
IEG ENERGY GROUP, INC.
Date: November 11, 2003 By: /s/ ▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇
▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇, Chairman & CEO
Date: November 11, 2003 By: /s/ ▇▇▇▇▇▇ ▇. ▇▇▇▇▇
▇▇▇▇▇▇ ▇. ▇▇▇▇▇, President
AGREED:
HAL ENERGY INTERNATIONAL, INC.
Date: November 11, 2003 By: /s/ ▇▇▇▇▇ Ai
▇▇▇▇▇ Ai, President