STOCK OPTION AGREEMENT
THIS STOCK OPTION is granted and effective as of August 23, 2004 (the “DATE OF GRANT”), by SHIPROCK, INC., a
Nevada Corporation (the “OPTIONOR” or “SHIPROCK”), and this STOCK OPTION AGREEMENT (the “AGREEMENT”) is
executed, effective as of the DATE OF GRANT, by and between the OPTIONOR and TRIAX CAPITAL MANAGEMENT, INC.
A. OPTIONOR is desirous to grant this OPTION as a consideration and inducement to OPTIONEE for providing certain
services to SHIPROCK. The OPTIONOR has designated the OPTIONEE to receive a Stock Option pursuant to certain terms and
conditions outline below.
NOW, THEREFORE, THE PARTIES HERETO COVENANT AND AGREE AS FOLLOWS:
Number of Shares Subject to Option and Option Price
The OPTIONOR hereby grants to the OPTIONEE a Stock Option (The “OPTION”) to acquire from the OPTIONOR a total
of Fifty Thousand (50,000) Shares of the $.001 par value Common Stock of SHIPROCK, Inc., a Nevada corporation, at the
exercise price of $1.00 per share for the first Twenty Five Thousand (25,000) Shares and $2.00 per share for the second Twenty
Five Thousand (25,000) Shares. The OPTION shall be subject to all of the terms and conditions contained herein. The
OPTIONEE, concurrent with the executions of this Option Agreement will pay a non-refundable deposit in the amount of One
Thousand ($1,000) Dollars to the OPTIONOR. Said deposit will apply to the purchase of the shares at such time as the
OPTIONOR exercises this OPTION. In the event the OPTION is not exercised, OPTIONOR will retain said deposit as liquidated
Terms of the Option
The OPTION shall be subject to the following terms and conditions:
2.1 The OPTION to purchase Fifty Thousand (50,000) shares of common stock of SHIPROCK shall be able to be exercised
in all or in part.
a. This Option Agreement cannot be executed until such time as the proposed reverse merger between a subsidiary of