Stock
Option Agreement
THIS AGREEMENT made as
of this 21st day of November, 2007 by and between Thomas C. Drees,
an individual of Pasadena, CA (the “Optionor”) and LKB
Partners, LLC, of Exton, PA (the “Optionee”).
WHEREAS :
(A) The Optionor is the legal and beneficial owner of 42 million
common (est.) shares (the “Optionor’s Shares”) in
the capital stock of Sanguine Corp (SGNC.OB) (the
“Corporation”); and
(B) The Optionor wishes to grant to the Optionee and the Optionee
wishes to accept from the Optionor, an option to purchase 10
million of the Optionor’s Shares (the “Optioned
Shares”);
NOW THEREFORE THIS
AGREEMENT WITNESSES that in consideration of the premises and
for other good and valuable consideration, the receipt and
sufficiency of which is hereby acknowledged, the Optionor hereby
grants to the Optionee an option (the “Option”) to
purchase the Optioned Shares at a purchase price (the
“Purchase Price”) of $0.035 per share for an aggregate
Purchase Price of $350,000, upon and subject to the following terms
and conditions:
1. Option Exercise Period . The Option may be exercised by
the Optionee in whole or in part at any time from the date hereof
until the day preceding the earlier of (i) 5 years from the
execution date of this Agreement, or (ii) the death of the Optionee
(the earliest of which dates shall be the “Termination
Date”) and shall terminate on the Termination Date unless
exercised by the Optionee prior thereto; provided, however, these
Options, to the extent not exercised prior thereto, shall be void
on March 31, 2008, unless the Company shall have raised not less
than the sum of $500,000
