STOCK OPTION AGREEMENT
Parties : Micro Component Technology, Inc. (the “Company”); LMWH Management Partners LLC (“Optionee”).
Date : May 8, 2008 (the “Date of Grant”).
1. Grant of Option . The Company irrevocably grants to Optionee the right and option to purchase all or any part of the aggregate of 3,000,000 shares of the Company’s Common Stock at a price of $0.11 per share upon the terms and conditions set forth herein. This Option is non-qualified for tax purposes.
2. Option Period . The Option shall continue for a period of five years from the Date of Grant or, if earlier, one year from the date of termination of the Consulting Agreement between the Company and Optionee (the “Consulting Agreement”).
3. Exercise of Option . The Option shall vest and become exercisable in increments, upon satisfaction of the following milestones, as follows:
Prior to the execution of the strategic agreement milestones, the Chairman of the Board and the Optionee will provide the Board a detailed description of the potential strategic agreements the Optionee plans to undertake
to ensure the satisfaction of the Board that such strategic a