EXHIBIT 4
STOCK OPTION AGREEMENT
BIOCUREX INC.
THIS AGREEMENT is made this 23rd day of January 2010 , by and between
BioCurex Inc. (the "Corporation") and the person listed below. ("Option
Holder").
1. Grant of Option. The Corporation has granted to the Option Holder and
option to purchase shares of its common stock (the "Stock") in the amounts and
upon the terms set forth below.
The option was granted pursuant to the following plan or arrangement:
Shares Issuable Option Expiration Date
Upon Exercise of Exercise of Option
Name of Option Holder Option Price
-------------------------------------------------------------------------------
▇▇▇▇▇▇▇ ▇▇▇▇ 15,000,000 ****below January 22 2020
*** Option Exercise Price - equal to the greater of (i) $0.0714 and (ii) the
closing price of a share of Common Stock as quoted on the OTC BB on the
closing date of the Offering.
[ ] Incentive Stock Option Plan
[ ] Non-Qualified Stock Option Plan
[X] S1 filing
Each Plan as described above is on file with the Secretary of the corporation
and a copy will be provided to the Option Holder upon request. To the extent
applicable, the provisions of the Plan shall be deemed a part of this agreement.
2. Vesting and Exercisability. Subject to the provisions of Section 4
regarding termination of the option, the options granted may be exercised at any
time after the following:
One third of the options granted will be exercisable 90 days after the date of
grant and, on a cumulative basis, an additional one third exercisable on each of
the first and second anniversaries of the date of grant.
3. Method of Exercise. The option shall be exercised by written notice
directed to the Corporation, at the Corporation's principal place of business,
accompanied by check in payment of the option price for the number of shares
specified. The corporation shall make prompt delivery of such shares, provided
that if any law or regulation requires the Corporation to take any action with
respect to the shares specified in such notice before the issuance thereof, then
the date of delivery of such shares shall be extended for the period necessary
to take such action. The price of an exercised option, or option thereof, may be
paid:
i) in cash or by check, bank draft or money order payable to the order of
the Corporation; or
ii) or, at the discretion of the Company, through the delivery of shares
of the Common Stock of the Company having a market value equal to the
purchase price of the shares that are being purchased.
iii) at the discretion of the Company, by a combination of both (i) & (ii)
above.
4. Termination and Forfeiture. If, before the second anniversary of the
date of grant, any option holder's employment terminates for any
reason other than death or disability or an option holder ceases to be
a director for any reason other than death of disability, any unvested
options will be immediately forfeited. Any vested options will
continue to be exercisable until the termination date.
Death and Disability: In the event of the death or disability of an option
holder, the vesting of any unvested options will accelerate.
5. Reclassification, Consolidation or Merger. If and to the extent the
number of issued shares of common stock of the Corporation shall be increase or
reduced by change in par value, spilt up, reclassification, distribution of a
dividend payable in stock, or the like, the number of shares subject to the
option and the option price per share shall be proportionately adjusted. If the
corporation is reorganized or consolidated or merged with another corporation,
the Option Holder shall be entitled to receive options covering shares of such
reorganized, consolidated or merged company in the same proportion, at an
equivalent price, and subject to the same conditions as the options granted
pursuant to this agreement. For purposes of the preceding sentence, the excess
of the aggregate Fair Market Value of the shares subject to the option over the
aggregate price of such share immediately after the reorganization consolidation
or merger shall not be more than the excess of the aggregate Fair Market Value
of the shares subject to the option over the aggregate option price of such
shares immediately before such reorganization, consolidation or merger, and new
option or assumption of the old option shall not give the Option Holder
additional benefits which were not provided under the old option, or deprive the
Option Holder of benefits which were available under the old option.
6. Notice to Corporation of Certain Dispositions. Any Option Holder
disposing of shares of stock acquired on the exerecise of an option granted
pursuant to the Corporation's Incentive Stock Option Plan by sale or exchange
either (a) within two years after the date of the grant of the option under
which the stock was acquired or (b) within one year after the acquisition of
such shares, shall notify the Corporation of such disposition and of the amount
realized upon such disposition.
7. Binding Effect. This Agreement shall inure to the benefit of and be
binding upon the parties hereto and their respective heirs, executors,
administrators, successors and assigns.
IN WITNESS WHEROF, the parties hereto have caused this Agreement to be
executed on the day and year first above written.
BIOCUREX INC.
By: /s/ ▇▇▇▇▇ ▇▇▇▇▇▇
Title: Executive Chairman
STOCK OPTION AGREEMENT
BIOCUREX INC.
THIS AGREEMENT is made this 23rd day of January 2010, by and between
BioCurex Inc. (the "Corporation") and the person listed below. ("Option
Holder").
1. Grant of Option. The Corporation has granted to the Option Holder and
option to purchase shares of its common stock (the "Stock") in the amounts and
upon the terms set forth below.
The option was granted pursuant to the following plan or arrangement:
Name of Option Holder Shares Issuable Option Expiration Date
Upon Exercise of Exercise of Option
Option Price
---------------------- ---------------- -------- -----------------
▇▇▇▇▇ ▇▇▇▇▇▇ 10,000,000 ****below January 22nd 2020
*** Option Exercise Price - equal to the greater of (i) $0.0714 and (ii) the
closing price of a share of Common Stock as quoted on the OTC BB on the
closing date of the Offering.
[ ] Incentive Stock Option Plan
[ ] Non-Qualified Stock Option Plan
[X] S1 filing
Each Plan as described above is on file with the Secretary of the
Corporation and a copy will be provided to the Option Holder upon request. To
the extent applicable, the provisions of the Plan shall be deemed a part of this
agreement.
2. Vesting and Exercisability. Subject to the provisions of Section 4
regarding termination of the option, the options granted may be exercised at any
time after the following:
One third of the options granted will be exercisable 90 days after the
date of grant and, on a cumulative basis, an additional one third exercisable on
each of the first and second anniversaries of the date of grant.
3. Method of Exercise. The option shall be exercised by written notice
directed to the Corporation, at the Corporation's principal place of business,
accompanied by check in payment of the option price for the number of shares
specified. The corporation shall make prompt delivery of such shares, provided
that if any law or regulation requires the Corporation to take any action with
respect to the shares specified in such notice before the issuance thereof, then
the date of delivery of such shares shall be extended for the period necessary
to take such action. The price of an exercised option, or option thereof, may be
paid:
i) in cash or by check, bank draft or money order payable to the order
of the Corporation; or
ii) or, at the discretion of the Company, through the delivery of shares
of the Common Stock of the Company having a market value equal to the
purchase price of the shares that are being purchased.
iii) at the discretion of the Company, by a combination of both (i) & (ii)
above.
4. Termination and Forfeiture. If, before the second anniversary of the
date of grant, any option holder's employment terminates for any reason other
than death or disability or an option holder ceases to be a director for any
reason other than death of disability, any unvested options will be immediately
forfeited. Any vested options will continue to be exercisable until the
termination date.
Death and Disability: In the event of the death or disability of an option
holder, the vesting of any unvested options will accelerate.
5. Reclassification, Consolidation or Merger. If and to the extent the
number of issued shares of common stock of the Corporation shall be increase or
reduced by change in par value, spilt up, reclassification, distribution of a
dividend payable in stock, or the like, the number of shares subject to the
option and the option price per share shall be proportionately adjusted. If the
corporation is reorganized or consolidated or merged with another corporation,
the Option Holder shall be entitled to receive options covering shares of such
reorganized, consolidated or merged company in the same proportion, at an
equivalent price, and subject to the same conditions as the options granted
pursuant to this agreement. For purposes of the preceding sentence, the excess
of the aggregate Fair Market Value of the shares subject to the option over the
aggregate price of such share immediately after the reorganization consolidation
or merger shall not be more than the excess of the aggregate Fair Market Value
of the shares subject to the option over the aggregate option price of such
shares immediately before such reorganization, consolidation or merger, and new
option or assumption of the old option shall not give the Option Holder
additional benefits which were not provided under the old option, or deprive the
Option Holder of benefits which were available under the old option.
6. Notice to Corporation of Certain Dispositions. Any Option Holder
disposing of shares of stock acquired on the exerecise of an option granted
pursuant to the Corporation's Incentive Stock Option Plan by sale or exchange
either (a) within two years after the date of the grant of the option under
which the stock was acquired or (b) within one year after the acquisition of
such shares, shall notify the Corporation of such disposition and of the amount
realized upon such disposition.
7. Binding Effect. This Agreement shall inure to the benefit of and be
binding upon the parties hereto and their respective heirs, executors,
administrators, successors and assigns.
IN WITNESS WHEROF, the parties hereto have caused this Agreement to be
executed on the day and year first above written.
BIOCUREX INC.
By: /s/ ▇▇▇▇▇ ▇▇▇▇▇▇
Title: Executive Chairman
STOCK OPTION AGREEMENT
BIOCUREX INC.
THIS AGREEMENT is made this 23rd day of January 2010, by and between
BioCurex Inc. (the "Corporation") and the person listed below. ("Option
Holder").
1. Grant of Option. The Corporation has granted to the Option Holder and
option to purchase shares of its common stock (the "Stock") in the amounts and
upon the terms set forth below.
The option was granted pursuant to the following plan or arrangement:
Name of Option Holder Shares Issuable Option Expiration Date
Upon Exercise of Exercise of Option
Option Price
------------------------ ---------------- ---------- ---------------
▇▇▇▇ ▇▇▇▇ 1,000,000 ****below January 22nd 2020
*** Option Exercise Price - equal to the greater of (i) $0.0714 and (ii) the
closing price of a share of Common Stock as quoted on the OTC BB on the
closing date of the Offering.
[ ] Incentive Stock Option Plan
[ ] Non-Qualified Stock Option Plan
[X] S1 filing
Each Plan as described above is on file with the Secretary of the
corporation and a copy will be provided to the Option Holder upon request. To
the extent applicable, the provisions of the Plan shall be deemed a part of this
agreement.
2. Vesting and Exercisability. Subject to the provisions of Section 4
regarding termination of the option, the options granted may be exercised at any
time after the following:
One third of the options granted will be exercisable 90 days after the
date of grant and, on a cumulative basis, an additional one third exercisable on
each of the first and second anniversaries of the date of grant.
3. Method of Exercise. The option shall be exercised by written notice
directed to the Corporation, at the Corporation's principal place of business,
accompanied by check in payment of the option price for the number of shares
specified. The corporation shall make prompt delivery of such shares, provided
that if any law or regulation requires the Corporation to take any action with
respect to the shares specified in such notice before the issuance thereof, then
the date of delivery of such shares shall be extended for the period necessary
to take such action. The price of an exercised option, or option thereof, may be
paid:
i). in cash or by check, bank draft or money order payable to the order
of the Corporation; or
ii). or, at the discretion of the Company, through the delivery of shares
of the Common Stock of the Company having a market value equal to the
purchase price of the shares that are being purchased.
iii). at the discretion of the Company, by a combination of both (i) &
(ii) above.
4. Termination and Forfeiture If, before the second anniversary of the date
of grant, any option holder's employment terminates for any reason other than
death or disability or an option holder ceases to be a director for any reason
other than death of disability, any unvested options will be immediately
forfeited. Any vested options will continue to be exercisable until the
termination date.
Death and Disability: In the event of the death or disability of an option
holder, the vesting of any unvested options will accelerate.
5. Reclassification, Consolidation or Merger. If and to the extent the
number of issued shares of common stock of the Corporation shall be increase or
reduced by change in par value, spilt up, reclassification, distribution of a
dividend payable in stock, or the like, the number of shares subject to the
option and the option price per share shall be proportionately adjusted. If the
corporation is reorganized or consolidated or merged with another corporation,
the Option Holder shall be entitled to receive options covering shares of such
reorganized, consolidated or merged company in the same proportion, at an
equivalent price, and subject to the same conditions as the options granted
pursuant to this agreement. For purposes of the preceding sentence, the excess
of the aggregate Fair Market Value of the shares subject to the option over the
aggregate price of such share immediately after the reorganization consolidation
or merger shall not be more than the excess of the aggregate Fair Market Value
of the shares subject to the option over the aggregate option price of such
shares immediately before such reorganization, consolidation or merger, and new
option or assumption of the old option shall not give the Option Holder
additional benefits which were not provided under the old option, or deprive the
Option Holder of benefits which were available under the old option.
6. Notice to Corporation of Certain Dispositions. Any Option Holder
disposing of shares of stock acquired on the exerecise of an option granted
pursuant to the Corporation's Incentive Stock Option Plan by sale or exchange
either (a) within two years after the date of the grant of the option under
which the stock was acquired or (b) within one year after the acquisition of
such shares, shall notify the Corporation of such disposition and of the amount
realized upon such disposition.
7. Binding Effect. This Agreement shall inure to the benefit of and be
binding upon the parties hereto and their respective heirs, executors,
administrators, successors and assigns.
IN WITNESS WHEROF, the parties hereto have caused this Agreement to be
executed on the day and year first above written.
BIOCUREX INC.
By: /s/ ▇▇▇▇▇ ▇▇▇▇▇▇
Title: Executive Chairman
STOCK OPTION AGREEMENT
BIOCUREX INC.
THIS AGREEMENT is made this 23rd day of January 2010, by and between
BioCurex Inc. (the "Corporation") and the person listed below. ("Option
Holder").
1. Grant of Option. The Corporation has granted to the Option Holder and
option to purchase shares of its common stock (the "Stock") in the amounts and
upon the terms set forth below.
The option was granted pursuant to the following plan or arrangement:
Name of Option Shares Option Expiration Date
Holder Issuable Upon Exercise of Option
Exercise of Option Price
----------------------- ------------------- --------- ---------------
▇▇▇▇ (▇▇▇▇▇▇▇) 1,000,000 ****below January 22nd 2020
BOLD-▇▇-▇▇▇▇▇▇▇▇
*** Option Exercise Price - equal to the greater of (i) $0.0714 and (ii)
the closing price of a share of Common Stock as quoted on the OTC BB on the
closing date of the Offering.
[ ] Incentive Stock Option Plan
[ ] Non-Qualified Stock Option Plan
[X] S1 filing
Each Plan as described above is on file with the Secretary of the
corporation and a copy will be provided to the Option Holder upon request. To
the extent applicable, the provisions of the Plan shall be deemed a part of this
agreement.
2. Vesting and Exercisability. Subject to the provisions of Section 4
regarding termination of the option, the options granted may be exercised at any
time after the following:
One third of the options granted will be exercisable 90 days after the
date of grant and, on a cumulative basis, an additional one third exercisable on
each of the first and second anniversaries of the date of grant.
3. Method of Exercise. The option shall be exercised by written notice
directed to the Corporation, at the Corporation's principal place of business,
accompanied by check in payment of the option price for the number of shares
specified. The corporation shall make prompt delivery of such shares, provided
that if any law or regulation requires the Corporation to take any action with
respect to the shares specified in such notice before the issuance thereof, then
the date of delivery of such shares shall be extended for the period necessary
to take such action. The price of an exercised option, or option thereof, may be
paid:
i) in cash or by check, bank draft or money order payable to the order
of the Corporation; or
ii) or, at the discretion of the Company, through the delivery of shares
of the Common Stock of the Company having a market value equal to the
purchase price of the shares that are being purchased.
iii) at the discretion of the Company, by a combination of both (i) & (ii)
above.
4. Termination and Forfeiture If, before the second anniversary of the date
of grant, any option holder's employment terminates for any reason other than
death or disability or an option holder ceases to be a director for any reason
other than death of disability, any unvested options will be immediately
forfeited. Any vested options will continue to be exercisable until the
termination date.
Death and Disability: In the event of the death or disability of an option
holder, the vesting of any unvested options will accelerate.
5. Reclassification, Consolidation or Merger. If and to the extent the
number of issued shares of common stock of the Corporation shall be increase or
reduced by change in par value, spilt up, reclassification, distribution of a
dividend payable in stock, or the like, the number of shares subject to the
option and the option price per share shall be proportionately adjusted. If the
corporation is reorganized or consolidated or merged with another corporation,
the Option Holder shall be entitled to receive options covering shares of such
reorganized, consolidated or merged company in the same proportion, at an
equivalent price, and subject to the same conditions as the options granted
pursuant to this agreement. For purposes of the preceding sentence, the excess
of the aggregate Fair Market Value of the shares subject to the option over the
aggregate price of such share immediately after the reorganization consolidation
or merger shall not be more than the excess of the aggregate Fair Market Value
of the shares subject to the option over the aggregate option price of such
shares immediately before such reorganization, consolidation or merger, and new
option or assumption of the old option shall not give the Option Holder
additional benefits which were not provided under the old option, or deprive the
Option Holder of benefits which were available under the old option.
6. Notice to Corporation of Certain Dispositions. Any Option Holder
disposing of shares of stock acquired on the exerecise of an option granted
pursuant to the Corporation's Incentive Stock Option Plan by sale or exchange
either (a) within two years after the date of the grant of the option under
which the stock was acquired or (b) within one year after the acquisition of
such shares, shall notify the Corporation of such disposition and of the amount
realized upon such disposition.
7. Binding Effect. This Agreement shall inure to the benefit of and be
binding upon the parties hereto and their respective heirs, executors,
administrators, successors and assigns.
IN WITNESS WHEROF, the parties hereto have caused this Agreement to be
executed on the day and year first above written.
BIOCUREX INC.
By: /s/ ▇▇▇▇▇ ▇▇▇▇▇▇
Title: Executive Chairman
STOCK OPTION AGREEMENT
BIOCUREX INC.
THIS AGREEMENT is made this 23rd day of January 2010, by and between
BioCurex Inc. (the "Corporation") and the person listed below. ("Option
Holder").
1. Grant of Option. The Corporation has granted to the Option Holder and
option to purchase shares of its common stock (the "Stock") in the amounts and
upon the terms set forth below.
The option was granted pursuant to the following plan or arrangement:
Name of Option Holder Shares Issuable Option Expiration Date
Upon Exercise of Exercise of Option
Option Price
---------------------- ---------------- ----------- ---------------
▇▇▇▇▇▇ ▇▇▇▇ 500,000 ****below January 22nd 2020
*** Option Exercise Price - equal to the greater of (i) $0.0714 and (ii) the
closing price of a share of Common Stock as quoted on the OTC BB on the closing
date of the Offering.
[ ] Incentive Stock Option Plan
[ ] Non-Qualified Stock Option Plan
[X] S1 filing
Each Plan as described above is on file with the Secretary of the
corporation and a copy will be provided to the Option Holder upon request. To
the extent applicable, the provisions of the Plan shall be deemed a part of this
agreement.
2. Vesting and Exercisability. Subject to the provisions of Section 4
regarding termination of the option, the options granted may be exercised at any
time after the following:
One third of the options granted will be exercisable 90 days after the
date of grant and, on a cumulative basis, an additional one third exercisable on
each of the first and second anniversaries of the date of grant.
3. Method of Exercise. The option shall be exercised by written notice
directed to the Corporation, at the Corporation's principal place of business,
accompanied by check in payment of the option price for the number of shares
specified. The corporation shall make prompt delivery of such shares, provided
that if any law or regulation requires the Corporation to take any action with
respect to the shares specified in such notice before the issuance thereof, then
the date of delivery of such shares shall be extended for the period necessary
to take such action. The price of an exercised option, or option thereof, may be
paid:
i) in cash or by check, bank draft or money order payable to the order
of the Corporation; or
ii) or, at the discretion of the Company, through the delivery of shares
of the Common Stock of the Company having a market value equal to the
purchase price of the shares that are being purchased.
iii) at the discretion of the Company, by a combination of both (i) & (ii)
above.
4. Termination and Forfeiture If, before the second anniversary of the date
of grant, any option holder's employment terminates for any reason other than
death or disability or an option holder ceases to be a director for any reason
other than death of disability, any unvested options will be immediately
forfeited. Any vested options will continue to be exercisable until the
termination date.
Death and Disability: In the event of the death or disability of an option
holder, the vesting of any unvested options will accelerate.
5. Reclassification, Consolidation or Merger. If and to the extent the
number of issued shares of common stock of the Corporation shall be increase or
reduced by change in par value, spilt up, reclassification, distribution of a
dividend payable in stock, or the like, the number of shares subject to the
option and the option price per share shall be proportionately adjusted. If the
corporation is reorganized or consolidated or merged with another corporation,
the Option Holder shall be entitled to receive options covering shares of such
reorganized, consolidated or merged company in the same proportion, at an
equivalent price, and subject to the same conditions as the options granted
pursuant to this agreement. For purposes of the preceding sentence, the excess
of the aggregate Fair Market Value of the shares subject to the option over the
aggregate price of such share immediately after the reorganization consolidation
or merger shall not be more than the excess of the aggregate Fair Market Value
of the shares subject to the option over the aggregate option price of such
shares immediately before such reorganization, consolidation or merger, and new
option or assumption of the old option shall not give the Option Holder
additional benefits which were not provided under the old option, or deprive the
Option Holder of benefits which were available under the old option.
6. Notice to Corporation of Certain Dispositions. Any Option Holder
disposing of shares of stock acquired on the exercise of an option granted
pursuant to the Corporation's Incentive Stock Option Plan by sale or exchange
either (a) within two years after the date of the grant of the option under
which the stock was acquired or (b) within one year after the acquisition of
such shares, shall notify the Corporation of such disposition and of the amount
realized upon such disposition.
7. Binding Effect. This Agreement shall inure to the benefit of and be
binding upon the parties hereto and their respective heirs, executors,
administrators, successors and assigns.
IN WITNESS WHEROF, the parties hereto have caused this Agreement to be
executed on the day and year first above written.
BIOCUREX INC.
By: /s/ ▇▇▇▇▇ ▇▇▇▇▇▇
Title: Executive Chairman
STOCK OPTION AGREEMENT
BIOCUREX INC.
THIS AGREEMENT is made this 23rd day of January 2010, by and between
BioCurex Inc. (the "Corporation") and the person listed below. ("Option
Holder").
1. Grant of Option. The Corporation has granted to the Option Holder and
option to purchase shares of its common stock (the "Stock") in the amounts and
upon the terms set forth below.
The option was granted pursuant to the following plan or arrangement:
Name of Option Holder Shares Issuable Option Expiration Date
Upon Exercise of Exercise of Option
Option Price
---------------------- ---------------- ----------- ---------------
▇▇▇ ▇▇▇▇▇ 1,000,000 ****below January 22nd 2020
*** Option Exercise Price - equal to the greater of (i) $0.0714 and (ii) the
closing price of a share of Common Stock as quoted on the OTC BB on the
closing date of the Offering.
[ ] Incentive Stock Option Plan
[ ] Non-Qualified Stock Option Plan
[X] S1 filing
Each Plan as described above is on file with the Secretary of the
corporation and a copy will be provided to the Option Holder upon request. To
the extent applicable, the provisions of the Plan shall be deemed a part of this
agreement.
2. Vesting and Exercisability. Subject to the provisions of Section 4
regarding termination of the option, the options granted may be exercised at any
time after the following:
One third of the options granted will be exercisable 90 days after the
date of grant and, on a cumulative basis, an additional one third exercisable on
each of the first and second anniversaries of the date of grant.
3. Method of Exercise. The option shall be exercised by written notice
directed to the Corporation, at the Corporation's principal place of business,
accompanied by check in payment of the option price for the number of shares
specified. The corporation shall make prompt delivery of such shares, provided
that if any law or regulation requires the Corporation to take any action with
respect to the shares specified in such notice before the issuance thereof, then
the date of delivery of such shares shall be extended for the period necessary
to take such action. The price of an exercised option, or option thereof, may be
paid:
i) in cash or by check, bank draft or money order payable to the order
of the Corporation; or
ii) or, at the discretion of the Company, through the delivery of shares
of the Common Stock of the Company having a market value equal to the
purchase price of the shares that are being purchased.
iii) at the discretion of the Company, by a combination of both (i) & (ii)
above.
4. Termination and Forfeiture If, before the second anniversary of the date
of grant, any option holder's employment terminates for any reason other than
death or disability or an option holder ceases to be a director for any reason
other than death of disability, any unvested options will be immediately
forfeited. Any vested options will continue to be exercisable until the
termination date.
Death and Disability: In the event of the death or disability of an option
holder, the vesting of any unvested options will accelerate.
5. Reclassification, Consolidation or Merger. If and to the extent the
number of issued shares of common stock of the Corporation shall be increase or
reduced by change in par value, spilt up, reclassification, distribution of a
dividend payable in stock, or the like, the number of shares subject to the
option and the option price per share shall be proportionately adjusted. If the
corporation is reorganized or consolidated or merged with another corporation,
the Option Holder shall be entitled to receive options covering shares of such
reorganized, consolidated or merged company in the same proportion, at an
equivalent price, and subject to the same conditions as the options granted
pursuant to this agreement. For purposes of the preceding sentence, the excess
of the aggregate Fair Market Value of the shares subject to the option over the
aggregate price of such share immediately after the reorganization consolidation
or merger shall not be more than the excess of the aggregate Fair Market Value
of the shares subject to the option over the aggregate option price of such
shares immediately before such reorganization, consolidation or merger, and new
option or assumption of the old option shall not give the Option Holder
additional benefits which were not provided under the old option, or deprive the
Option Holder of benefits which were available under the old option.
6. Notice to Corporation of Certain Dispositions. Any Option Holder
disposing of shares of stock acquired on the exerecise of an option granted
pursuant to the Corporation's Incentive Stock Option Plan by sale or exchange
either (a) within two years after the date of the grant of the option under
which the stock was acquired or (b) within one year after the acquisition of
such shares, shall notify the Corporation of such disposition and of the amount
realized upon such disposition.
7. Binding Effect. This Agreement shall inure to the benefit of and be
binding upon the parties hereto and their respective heirs, executors,
administrators, successors and assigns.
IN WITNESS WHEROF, the parties hereto have caused this Agreement to be
executed on the day and year first above written.
BIOCUREX INC.
By: /s/ ▇▇▇▇▇ ▇▇▇▇▇▇
Title: Executive Chairman