Company Uses in Restructuring of Stock Options Clause

Restructuring of Stock Options from Agreement

THIS AGREEMENT (Agreement) entered into effective on this the 10th day of July, 2008, by and between ICOP DIGITAL, INC., a Colorado corporation, (the Company) and DAVID C. OWEN, (Owen).

Restructuring of Stock Options. In recognition of Owens willingness to terminate the Stock Grant and Prior Stock Options, all to the substantial financial benefit of the Company and in recognition of Owens leadership and services to the Company, the Company agrees to grant certain stock options to Owen. Effective upon the date hereof, the Company Board of Directors (organization) values">Company Board of Directors has by separate resolution awarded Owen 200,000 shares of Non-Qualified Stock Options with a term of ten (10) years at an exercise price equivalent to closing the market price of common stock of the Company on the date hereof.

Restructuring of Stock Options from Agreement

THIS AGREEMENT (Agreement) entered into effective on this the 10th day of July, 2008, by and between ICOP DIGITAL, INC., a Colorado corporation, (the Company) and LAURA E. OWEN, (Owen).

Restructuring of Stock Options. In recognition of Owens willingness to terminate the Stock Grant and Prior Stock Options, all to the substantial financial benefit of the Company and in recognition of Owens leadership and services to the Company, the Company agrees to grant certain stock options to Owen. Effective upon the date hereof, the Company Board of Directors (organization) values">Company Board of Directors has by separate resolution awarded Owen 200,000 shares of Non-Qualified Stock Options with a term of ten (10) years at an exercise price equivalent to closing the market price of common stock of the Company on the date hereof.