LANDBANK GROUP, INC. OPTION TERMINATION AGREEMENT
EXHIBIT
10.2
LANDBANK
GROUP, INC.
THIS
OPTION TERMINATION AGREEMENT (this “Agreement”) is made as of
August __, 2007, by and among Landbank Group, Inc., a Delaware corporation
(the
“Company”), and ___________________________ (the
“Option Holder”).
RECITALS
WHEREAS,
the Option Holder received options (the “Options”), dated
____________, to purchase ___________ shares of the Common Stock, par value
$0.0001 per share, of the Company;
WHEREAS,
as of the date hereof, the Option Holder has not exercised any of the Options,
nor have any of the Options vested; and
WHEREAS,
the Company desires, and the Option Holder agrees, to explicitly terminate
the
Options as of the date of this Agreement;
AGREEMENT
NOW,
THEREFORE, for good and valuable consideration the sufficiency of which is
hereby acknowledged, the parties, intending to be legally bound, hereby agree
as
follows:
1. Termination
of Options. The Company and the Option Holder hereby agree to
terminate the Options, effective as of the date of this Agreement.
2. Authorization. Each
party hereto represents and warrants that it is authorized to take the actions
contemplated hereunder and shall take such further actions and do such further
things necessary to fulfill the purposes of this Agreement.
3. Governing
Law. This Agreement shall be governed, construed and interpreted
in accordance with the laws of the State of California, without giving effect
to
principles of conflicts of law.
[Signature
Page Follows]
IN
WITNESS WHEREOF, the parties hereto have executed this Agreement as of the
date
first above written.
LANDBANK
GROUP, INC.
By:
Name:
Its:
OPTION
HOLDER
By:
Name:
(please print)
