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updated legal document title
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Marcin Rudolf committed May 3, 2017
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<head>
<meta http-equiv=Content-Type content="text/html; charset=utf-8">
<meta name=Generator content="Microsoft Word 15 (filtered)">
<title>ESOP Legal Wrapper</title>
<title>ESOP Terms &amp; Conditions Document</title>
<style>
<!--
/* Font Definitions */
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<div class=WordSection1>

<p class=MsoTitleCxSpFirst><span style='font-variant:normal !important;
text-transform:uppercase'>Employee Share Option Pool Conditions</span></p>
<p class=MsoTitleCxSpFirst>ESOP Terms &amp; Conditions Document</p>

<p class=MsoTitleCxSpMiddle><span style='font-variant:normal !important;
text-transform:uppercase'>{company}</span></p>
<p class=MsoTitleCxSpMiddle>{company}</p>

<p class=MsoTitleCxSpMiddle><span style='font-variant:normal !important;
text-transform:uppercase'>&nbsp;</span></p>
<p class=MsoTitleCxSpMiddle>&nbsp;</p>

<p class=MsoTitleCxSpMiddle><span style='font-variant:normal !important;
text-transform:uppercase'>&nbsp;</span></p>
<p class=MsoTitleCxSpMiddle>&nbsp;</p>

<p class=MsoTitleCxSpLast><span style='font-variant:normal !important;
text-transform:uppercase'>Preamble</span></p>
<p class=MsoTitleCxSpLast>Preamble</p>

<p class=MsoNormal>&nbsp;</p>

<p class=MsoNormal>{company} (the “<b>Company</b>”) is a limited liability
company established and organised under the laws of {country}. The Company is
registered with {hrb-clause}.</p>
company established and organised under the laws of {country}. The Company is registered
with {hrb-clause}.</p>

<p class=MsoNormal>The Company is identified by the following address
{company-address} on Ethereum network. Ethereum network is a public distributed
Expand Down Expand Up @@ -261,9 +256,8 @@ <h1>1.<span style='font:7.0pt "Times New Roman"'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&
compensations of the Employee. The Company grants the Issued Options on a
voluntary basis only; the Employee is not entitled to demand further Options.
No repeated grant of Options to an Employee shall be deemed to confer any
entitlement (under any company practice – <i>Betriebliche Übung</i>, or
otherwise) as to any (future) grant of Options to any Employee or any third
person or entity. </p>
entitlement (under any company practice or otherwise) as to any (future) grant
of Options to any Employee or any third person or entity. </p>

<span style='font-size:11.0pt;line-height:107%;font-family:"Times New Roman","serif"'><br
clear=all style='page-break-before:always'>
Expand Down Expand Up @@ -294,13 +288,13 @@ <h1><a name="_Ref481523619">2.<span style='font:7.0pt "Times New Roman"'>&nbsp;&
determining the number of Issued Options qualified as vested options and only
as such becoming exercisable according to section 3 (the “<b>Vested Options</b>”).
The number of Vested Options shall be conditional on whether and when the
employment or service agreement between the Employee and the Company is
terminated or the Employee terminates working for the Company as a matter of
fact (each a “<b>Work Termination</b>”, the Employee in each case a “<b>Terminated
Employee</b>”) within a certain period of time after the Issue Date (the “<b>Vesting
Period</b>”) as specified in the Subscription Form. The remaining number of
Issued Options that will not become Vested Options or will be deemed not being
Vested Options (the “<b>Returned Options</b>”) shall return to the Pool.</p>
employment or service agreement between the Employee and the Company is terminated
or the Employee terminates working for the Company as a matter of fact (each a
“<b>Work Termination</b>”, the Employee in each case a “<b>Terminated Employee</b>”)
within a certain period of time after the Issue Date (the “<b>Vesting Period</b>”)
as specified in the Subscription Form. The remaining number of Issued Options
that will not become Vested Options or will be deemed not being Vested Options
(the “<b>Returned Options</b>”) shall return to the Pool.</p>

<p class=MsoListParagraph>2.4<span style='font:7.0pt "Times New Roman"'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</span>The following methodology shall apply to determine the number of Vested
Expand Down Expand Up @@ -386,11 +380,11 @@ <h1><a name="_Ref481523643">3.<span style='font:7.0pt "Times New Roman"'>&nbsp;&
</span>An “<b>Conversion Event</b>” is any kind of transaction including any
transaction under a smart contract in which (i) shares collectively
constituting more than 50 % of the Company’s issued share capital are
purchased, exchanged or acquired in a financially comparable fashion in one
transaction or a series of transactions temporarily connected by a buyer and/or
buyer consortium (each a “<b>Buyer</b>”) (the “<b>Share Purchase</b>”), and/or;
(ii) the Company sells all or nearly all assets and/or IP rights (defined as
more than 50 % of all assets of the Company according to market value) of the
purchased, exchanged or acquired in a financially comparable fashion in one transaction
or a series of transactions temporarily connected by a buyer and/or buyer
consortium (each a “<b>Buyer</b>”) (the “<b>Share Purchase</b>”), and/or; (ii)
the Company sells all or nearly all assets and/or IP rights (defined as more
than 50 % of all assets of the Company according to market value) of the
Company in one transaction or a series of transactions temporarily connected to
a Buyer (the “<b>Asset Purchase</b>”), and/or (iii) an IPO (Initial Public
Offering) of the shares of the Company takes place (the “<b>IPO</b>”); and/or
Expand Down Expand Up @@ -460,8 +454,8 @@ <h1><a name="_Ref481523643">3.<span style='font:7.0pt "Times New Roman"'>&nbsp;&
Options.</a></p>

<p class=MsoListParagraph><a name="_Ref481523730">3.8<span style='font:7.0pt "Times New Roman"'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</span>Vested Options that have not been exercised within the Exercise Period or
deemed exercised according to clause </a>3.7 shall expire.</p>
</span>Vested Options that have not been exercised within the Exercise Period
or deemed exercised according to clause </a>3.7 shall expire.</p>

<p class=MsoListParagraph>3.9<span style='font:7.0pt "Times New Roman"'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</span>If the Employee fails to exercise his Vested Options within the Exercise
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<p class=MsoListParagraph>7.2<span style='font:7.0pt "Times New Roman"'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</span>The Company makes no guarantees, warranties, verifications and/or
promises of any kind with regard to the future development of any Issued Options
or Vested Options or with regard to a Conversion Event.</p>
promises of any kind with regard to the future development of any Issued
Options or Vested Options or with regard to a Conversion Event.</p>

<p class=MsoListParagraph>7.3<span style='font:7.0pt "Times New Roman"'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</span>The Company shall have no liability to Employee in case Private Key is
Expand All @@ -541,9 +535,9 @@ <h1>7.<span style='font:7.0pt "Times New Roman"'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&

<p class=MsoListParagraph style='margin-left:1.0in'>7.4.1<span
style='font:7.0pt "Times New Roman"'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</span>unless in cases of damages to life, body, or health, in cases of
warranting for the condition of a product or service, and in cases of
fraudulent concealment by the Company, its legal representatives, assistants in
</span>unless in cases of damages to life, body, or health, in cases of warranting
for the condition of a product or service, and in cases of fraudulent
concealment by the Company, its legal representatives, assistants in
performance or agents; or</p>

<p class=MsoListParagraph style='margin-left:1.0in'>7.4.2<span
Expand Down Expand Up @@ -577,8 +571,8 @@ <h1>8.<span style='font:7.0pt "Times New Roman"'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&

<p class=MsoListParagraph>8.1<span style='font:7.0pt "Times New Roman"'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</span>In case of legal disputes and proceedings in conjunction with these ESOP
Conditions, any such proceedings shall be, as far as legally permissible, subject
to the exclusive jurisdiction of the court of {court-city}. The laws of
Conditions, any such proceedings shall be, as far as legally permissible,
subject to the exclusive jurisdiction of the court of {court-city}. The laws of
{country} shall apply to conditions stated in ESOP Smart Contract with
exclusion of its conflict of law rules and the UN Convention on Contracts for
the International Sale of Goods.</p>
Expand All @@ -588,8 +582,8 @@ <h1>8.<span style='font:7.0pt "Times New Roman"'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&
consensus algorithm change that splits existing Ethereum network into one or
more networks where Smart Contract state may be independently changed, only one
network will be supported by {company} identified by {company-address}. On
unsupported networks ESOP Smart Contract will be erased (‘selfdestruct’) from blocks
added after the fork.</p>
unsupported networks ESOP Smart Contract will be erased (‘selfdestruct’) from
blocks added after the fork.</p>

<p class=MsoListParagraph><a name="_Ref481523792">8.3<span style='font:7.0pt "Times New Roman"'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</span>ESOP Smart Contract provides a mechanism to amend smart contract code
Expand All @@ -612,17 +606,14 @@ <h1>8.<span style='font:7.0pt "Times New Roman"'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&
<p class=MsoListParagraph>8.5<span style='font:7.0pt "Times New Roman"'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</span>Any amended of the ESOP Smart Contract pursuant to sections 8.3 and/or 8.4 hereof shall be reflected in a corresponding amendment of the Terms.</p>

<p class=MsoTitleCxSpFirst><span style='font-variant:normal !important;
text-transform:uppercase'>{company} identified by Ethereum address
{company-address}</span></p>
<p class=MsoTitleCxSpFirst>{company} identified by Ethereum address
{company-address}</p>

<p class=MsoTitleCxSpLast><span style='font-variant:normal !important;
text-transform:uppercase'>Network state at block {curr-block-hash}</span></p>
<p class=MsoTitleCxSpLast>Network state at block {curr-block-hash}</p>

<p class=MsoNormal>&nbsp;</p>

<p class=MsoTitle><span style='font-variant:normal !important;text-transform:
uppercase'>Copy of your ESOP-Subscription Form</span></p>
<p class=MsoTitle>Copy of your ESOP-Subscription Form</p>

<p class=MsoNormal>&nbsp;</p>

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