Modelo de acordo de opções de ações
PLANO DE INCENTIVO DE EQUIDADE 2012.
ACORDO DE OPÇÃO DE ACÇÃO.
Salvo definição em contrário, os termos em maiúsculas terão o significado estabelecido no Plano de Incentivo de Patrimônio de 2012 da WordLogic Corporation (o & quot; Plan & quot;).
1. AVISO DE CONCESSÃO DE OPÇÃO DE STOCK.
Você obteve uma opção para comprar ações ordinárias, sujeito aos termos e condições do Plano e deste Contrato de opção, da seguinte forma:
Nome do Optionee:
Número total de ações concedidas:
Opção de compra não estatutária.
Opção de opção de incentivo.
Preço de exercício por ação:
Vesting Commencement Date:
Esta opção pode ser exercida, no todo ou em parte, de acordo com o seguinte cronograma:
[___]% das Ações sujeitas à opção devem vir [__] meses após a Data de Início do Vencimento, e [__]% das Ações sujeitas à opção serão adquiridas cada [ano / trimestre / mês] posteriormente, sujeito à O optionee continuará a ser um Provedor de Serviços em tais datas.
Esta opção pode ser exercida por três meses após a data de rescisão do optante, exceto que, se a Cessação do Serviço do Opcanteta for por Causa, esta opção terminará na Data de Rescisão. Após a morte ou deficiência do optante, esta opção pode ser exercida por 12 meses após a data de rescisão do optante. Os períodos especiais de rescisão são estabelecidos nas Seções 2.3 (B), 2.9 e 2.10 abaixo. Em nenhum caso, esta opção poderá ser exercida posteriormente ao prazo de prêmio / prazo de expiração fornecido abaixo.
Prazo de entrega / data de expiração:
2.1 Concessão de opção. O Administrador, por este meio, concede ao opcional designado no Aviso de Subsídio de Opção de Compra de Ações anexado como Parte I deste Contrato de Opção (o & quot; Optionee & quot;); uma opção (a opção & quot;) para comprar o número de Ações conforme estabelecido em a concessão de opção de compra de ações, ao preço de exercício por ação estabelecido na Notificação de Subsídio de Opção de Compra de Ações (o & quot; preço de exercício & quot;), sujeito aos termos e condições deste Contrato de Opção e do Plano. Esta Opção destina-se a ser uma opção de ações não estatutária ("NSO") ou uma opção de opção de incentivo ("ISO"), conforme previsto no aviso de outorga de opção de compra de ações.
2.2 Exercício da Opção.
(A) Vesting / Right to Exercise. Esta Opção é exercível durante o prazo, de acordo com o Cronograma de Vencimento estabelecido na Seção 1 e as disposições aplicáveis deste Contrato de Opção e do Plano. Em nenhum caso, esta Opção se tornará exercível para ações adicionais após uma Rescisão de Serviço por qualquer motivo. Não obstante o que precede, esta Opção pode ser exercida integralmente se a Companhia estiver sujeita a uma Mudança no Controle antes da Rescisão do Serviço do Optometrista e, no prazo de 12 meses após a Mudança no Controle, o Opcional está sujeito a uma Rescisão do Serviço resultante de: (i ) a descarga involuntária do Optionee pela Companhia (ou pelo afiliado que o emprega) por razões diferentes da Causa (definida abaixo), morte ou deficiência; ou (ii) a renúncia de Optionee pela Good Reason (definida abaixo). Esta opção também pode tornar-se exercível de acordo com a Seção 2.11 abaixo.
O termo "Causa" significa (1) o roubo, desonestidade ou falsificação de qualquer documento ou registro da Companhia ou de qualquer afiliado do Optionee; (2) o uso indevido ou a divulgação de informações confidenciais ou proprietárias da Companhia ou de qualquer Afiliado do Optionee, que resulte ou resultará em danos materiais à Companhia ou a qualquer Afiliado; (3) qualquer ação do Optionee que tenha um efeito prejudicial sobre a reputação ou negócios da Companhia ou de qualquer Afiliado; (4) o fracasso ou a incapacidade do Optionee de executar quaisquer tarefas razoáveis atribuídas após notificação por escrito da Companhia ou de um Afiliado, e uma oportunidade razoável para curar, tal falha ou incapacidade; (5) qualquer violação material pelo Optionee de qualquer contrato de emprego ou serviço entre o Optionee e a Companhia ou um Afiliado, cuja violação não seja curada de acordo com os termos desse contrato; (6) a condenação do Optionee (incluindo qualquer pedido de culpa ou nolo contendere) de qualquer ato criminoso que prejudique a capacidade do Optionee de desempenhar seus deveres junto à Companhia ou a um Afiliado; ou (7) violação de uma política material da Empresa. O termo "Boa Razão" significa, conforme determinado pelo Administrador: (A) uma alteração adversa relevante no título, estatura, autoridade ou responsabilidades do Titular da Opção com a Companhia (ou a afiliada que o emprega); (B) uma redução material no salário base do Optionee ou na oportunidade de bônus anual; ou (C) recebimento de aviso de que o principal local de trabalho do Optionee será transferido por mais de 50 milhas.
(B) Método de exercício. Esta Opção é exercível ao entregar ao Administrador um "Aviso de Exercício" completamente executado ou por qualquer outro método aprovado pelo Administrador. O Aviso de Exercício deverá prever que o Titular do Opções seja eleito para exercer a Opção, o número de Ações em relação às quais a Opção está sendo exercida (as "Ações Exercizadas") e quaisquer outras representações e acordos que possam ser exigidos pelo Administrador . O pagamento do Preço de Exercício agregado total para todas as Ações Exercitas deve acompanhar o Aviso de Exercício. Esta Opção será considerada exercida após o recebimento pelo Administrador de tal Aviso de Exercício totalmente executado acompanhado de tal Preço de Exercício agregado. O Optionee é responsável por arquivar qualquer relatório de remessa ou outros documentos de câmbio exigidos para pagar o Preço de Exercício.
2.3 Limitação no exercício.
(A) A concessão desta Opção e a emissão de Ações após o exercício desta Opção estão sujeitas ao cumprimento de todas as Leis Aplicáveis. Esta Opção não pode ser exercida se a emissão de Ações após o exercício constitua uma violação de qualquer Lei Aplicável. Além disso, esta Opção não pode ser exercida a menos que (i) uma declaração de registro nos termos do Securities Act de 1933, conforme alterada (a "Lei de Valores Mobiliários") está em vigor no momento do exercício desta Opção com relação às Ações; ou (ii) na opinião de advogados da Companhia, as Ações que podem ser emitidas após o exercício desta Opção podem ser emitidas de acordo com os termos de uma isenção aplicável dos requisitos de registro do Securities Act. O Optionee é advertido de que, a menos que as condições acima sejam satisfeitas, o Optionee pode não ser capaz de exercer a Opção quando desejado, mesmo que a opção seja adquirida. Como uma condição adicional para o exercício desta Opção, a Companhia poderá exigir que o Optionee satisfaça todas as qualificações que sejam necessárias ou apropriadas, para comprovar conformidade com qualquer lei ou regulamento aplicável e para fazer qualquer representação ou garantia com respeito a isso, conforme possível solicitado pela Companhia. Qualquer Ação que seja emitida será "títulos restritos" uma vez que esse termo é definido na Regra 144 sob a Lei de Valores Mobiliários, e terá uma legenda restritiva adequada, a menos que estejam registrados nos termos do Securities Act. A Companhia não tem obrigação de registrar as Ações que podem ser emitidas após o exercício desta Opção.
(B) Período de rescisão especial. Se o exercício da Opção no último dia do período de rescisão estabelecido na Seção 1 for impedido pela operação do parágrafo (A) desta Seção 2.3, essa Opção permanecerá exercível até 14 dias após a primeira data em que o parágrafo (A) não funciona para evitar o exercício da Opção.
2.4 Método de pagamento. O pagamento do preço de exercício agregado deve ser feito por qualquer dos seguintes métodos; desde que, no entanto, o pagamento esteja em estrita conformidade com todos os procedimentos estabelecidos pelo Administrador:
(B) verificação ou transferência bancária;
(C) sujeito a quaisquer condições ou limitações estabelecidas pelo Administrador, outras Ações que tenham um Valor de Mercado Justo na data de entrega ou atestado igual ao Preço de Exercício agregado;
(D) a contraprestação recebida pela Companhia no âmbito de um programa de venda e remessa de caixa aceita pelo Administrador (os Diretores e Diretores não podem usar este procedimento se este procedimento violar a Seção 402 da Lei Sarbanes-Oxley de 2002, como alteradas);
(E) sujeito a quaisquer condições ou limitações estabelecidas pelo Administrador, retenção pela Companhia de tantas das Ações que de outra forma teriam sido entregues após o exercício da Opção, conforme o Valor de Mercado Justo na data de exercício igual ao exercício agregado preço de todas as Ações em relação ao qual a Opção está sendo exercida, desde que a Opção seja entregue e cancelada em relação a tais Ações; ou.
(F) qualquer combinação dos métodos de pagamento anteriores.
2.5 Saída de Ausência. O Optometrista não deve incorrer em uma Rescisão de Serviço quando o Optionee for em uma ausência de boa-fé, se a licença foi aprovada pela Companhia (ou afiliado empregando-a) por escrito e se continuar a creditar o serviço é exigido pelos termos da licença ou pela lei aplicável. O Optionee deve incorrer em uma Rescisão do Serviço quando a licença aprovada terminar, no entanto, a menos que o Optionee retorne imediatamente ao trabalho ativo.
Para fins de ISOs, nenhuma licença de ausência pode exceder três meses, a menos que o direito ao reempleamento após o vencimento da licença seja fornecido por lei ou contrato. Se o direito ao reempleamento não for fornecido por estatuto ou contrato, o Optativo será considerado como tendo incorrido em uma Rescisão do Serviço no primeiro dia imediatamente posterior a esse período de licença de três meses para fins de ISO e esta Opção deixará de ser tratada como um ISO e terminará após o vencimento do período de três meses que começa a data de conclusão da relação de trabalho.
2.6 Não Transferibilidade da Opção. Esta Opção não pode ser transferida de forma diferente da vontade ou pelas leis de descida e distribuição, e pode ser exercida durante a vida útil do Optionee somente pelo Optionee. Os termos deste Contrato de Opção e do Plano serão vinculativos para os executores, administradores, herdeiros, sucessores e cessionários do Optionee. Esta Opção não pode ser atribuída, prometida ou hipotecida pelo Optionee, seja por lei ou de outra forma, e não está sujeita a execução, apego ou processo similar. Não obstante o que precede, se esta Opção for designada como Opção de Compra Não Estatutária, o Administrador poderá, a seu exclusivo critério, permitir que o Optionee transfira esta Opção como um presente para um ou mais membros da família. Para fins deste Contrato de opção, "membro da família" significa uma criança, um enteado, um neto, um pai, um padrasto, um avô, um cônjuge, um ex-cônjuge, um irmão, uma sobrinha, um sobrinho, uma sogra, um sogro, um genro, uma nora, um irmão em lei ou cunhada (incluindo relações de adopção), qualquer pessoa que compartilhe a casa do Opereele (que não seja um inquilino ou empregado), um trust em que um ou mais desses indivíduos tenham mais de 50% dos benefícios interesse, uma base em que o Optionee ou uma ou mais dessas pessoas controlam a administração de ativos e qualquer entidade em que o Optionee ou uma ou mais dessas pessoas possuam mais de 50% dos juros de voto. Não obstante o que precede, durante qualquer Período de Qualificação da Califórnia, esta Opção não pode ser transferida de forma diferente da vontade, pelas leis de descendência e distribuição, ou, se for designada como Opção de Ações Não Estatutária, conforme permitido pela Regra 701 de a Securities Act de 1933, conforme alterada, conforme o Administrador pode determinar a seu exclusivo critério.
2.7 Prazo da Opção. Esta Opção pode ser exercida somente dentro do prazo estabelecido no Aviso de Subsídio de Opção de Compra de Ações, e pode ser exercida durante esse prazo somente de acordo com este Contrato de Opção e o Plano.
2.8 Obrigações fiscais.
(A) Impostos retidos na fonte. O Optionee deve fazer os arranjos adequados com o Administrador para satisfação de todos os impostos de renda federais, estaduais, locais e estrangeiros aplicáveis, imposto sobre o emprego e quaisquer outros impostos devidos como resultado do exercício da Opção. Com o consentimento do Administrador, esses acordos podem incluir a retenção de Ações que, de outra forma, seriam emitidas para o Optionee de acordo com o exercício desta Opção. A Companhia pode se recusar a honrar o exercício e se recusar a entregar as Ações se esses valores de retenção não forem entregues no momento do exercício.
(B) Aviso de Disqualificação da Disposição de Ações ISO. Se a Opção for um ISO e, se o Optionee vender ou de qualquer outro modo alienar qualquer uma das Ações adquiridas de acordo com o exercício do ISO em ou antes da data de (i) a data dois anos após a Data de Subvenção, ou (ii) a data de um ano após a data do exercício, o Optativo deve notificar imediatamente o Administrador por escrito dessa disposição. O Optionee pode estar sujeito a retenção de imposto de renda pela Companhia sobre a receita de remuneração reconhecida pelo Optionee.
2.9 Período de rescisão especial se o Optionee estiver sujeito à Seção 16 (b). Se uma venda dentro do prazo de rescisão aplicável estabelecido na Seção 1 das Ações adquiridas após o exercício desta Opção sujeitará o Optometrista a ser objeto de acordo com a Seção 16 (b) da Lei de Câmbio, esta Opção permanecerá exercível até o primeiro momento de ocorrência de (i) o décimo dia após a data em que a venda de tais ações pelo Optionee não estaria mais sujeita a tal ação, (ii) o 190º dia após a Rescisão do Serviço do Optometrista, ou (iii) a Data de Vencimento.
2.10 Período de rescisão especial se o Optionee estiver sujeito ao período de apagamento. A Companhia estabeleceu uma Política de Negociação de Insider (como tal política pode ser alterada de tempos em tempos, a "Política") relativa à negociação, enquanto possuir informações relevantes e não divulgadas. A Política proíbe os diretores, diretores, funcionários e consultores da Companhia e suas controladas de negociar em valores mobiliários da Companhia durante certos "Períodos de Blackout" conforme descrito na Política. Se o último dia do período de rescisão estabelecido na Seção 1 for durante esse Período de Blackout, essa Opção permanecerá exercível até 14 dias após a primeira data em que não existe mais um Período de Blackout aplicável ao Optionee.
2.11 Mudança no controle. Após uma Mudança de Controle antes da Rescisão do Serviço do Optometralizado, a Opção será assumida ou uma opção ou direito equivalente substituído pela corporação sucessora ou por uma das partes ou subsidiárias da corporação sucessora. Se a corporação sucessora se recusar a assumir ou substituir a Opção, imediatamente antes e dependendo da consumação da Mudança no Controle, o Titular do Contrato será adquirido e terá o direito de exercer a Opção. Além disso, se a Opção for totalmente adquirida e exercitável em vez de assumir ou substituir no caso de uma Mudança no Controle, o Administrador notificará o Oportente por escrito ou eletronicamente que a Opção será totalmente adquirida e exercível por um período determinado por o Administrador, a seu exclusivo critério, e a Opção terminará após o vencimento desse período.
2.12 Restrições à revenda. O Optionee não deve vender nenhuma Ação em um momento em que a Lei Aplicável, as políticas da Companhia ou um acordo entre a Companhia e seus subscritores proíbam uma venda. Esta restrição deve ser aplicada desde que o Optionee seja um Provedor de Serviços e por esse período após a Rescisão do Serviço do Opcenele como o Administrador pode especificar.
2.13 Contrato de bloqueio. Em conexão com qualquer oferta pública subscrita de Ações feitas pela Companhia de acordo com uma declaração de registro arquivada na Lei de Valores Mobiliários, o Oferente não deve oferecer, vender, contratar para vender, penhorar, hipotecar, conceder qualquer opção para comprar ou fazer qualquer venda curta ou, de outra forma, alienar quaisquer Ações (incluindo, mas não se limitando a, Ações sujeitas a esta Opção) ou quaisquer direitos para adquirir Ações da Companhia por esse período que comece na data de arquivamento dessa declaração de registro com a Securities and Exchange Commission e final no momento que possa ser estabelecido pelos subscritores para tal oferta pública; desde que, no entanto, esse período termine no prazo máximo de 180 dias a partir da data efetiva dessa declaração de registro. A limitação acima referida não se aplica às ações registradas para venda em oferta pública.
2.14 Acordo completo; Lei aplicável. Este Contrato de Opção e o Plano constituem o acordo completo das partes em relação ao assunto em questão e substituem na íntegra todos os compromissos e acordos anteriores da Companhia e Optionee em relação ao assunto em questão e não podem ser modificados de forma adversa para interesse do Optionee, exceto por meio de um escrito assinado pela Companhia e Optionee. Este Contrato de Opção é regido pelas leis substantivas internas, mas não pela escolha das leis, de Nevada.
2.15 Nenhuma Garantia de Serviço Continuado. A aquisição da Opção de acordo com o Cronograma de Vesting é gerada apenas pela continuação como Provedor de Serviços à vontade da Companhia (e não pelo ato de ser contratado, sendo concedida uma Opção ou compra de Ações abaixo). Este Contrato de Opção, as transações contempladas a seguir e a Tabela de Vencimento aqui estabelecida não constituem uma promessa expressa ou implícita de continuar a ser contratada como Provedor de Serviços para o período de aquisição, por qualquer período ou não, e não deve interferir com o Opção direito ou o direito da Companhia de rescindir o relacionamento do Optionee como um Provedor de Serviços a qualquer momento, com ou sem Causa.
Com a assinatura do Optionee e a assinatura do representante da Companhia abaixo, o Oporté e a Companhia concordam que esta Opção é concedida de acordo com os termos e condições deste Contrato de Opção e do Plano. O Optativo revisou este Contrato de Opção e o Plano na sua totalidade, teve a oportunidade de obter o conselho de advogado antes de executar este Contrato de Opção e entende inteiramente todas as provisões deste Contrato de Opção e do Plano. O Optometrista concorda em aceitar como vinculante, conclusivo e final todas as decisões ou interpretações do Administrador sobre quaisquer questões relacionadas a este Contrato de Opção e ao Plano.
O Optionee concorda ainda que a Companhia pode entregar todos os documentos relativos ao Plano ou a esta Opção (incluindo os prospectos exigidos pela Comissão de Valores Mobiliários e Câmbio) e todos os outros documentos que a Companhia deve entregar aos seus segurados ou ao Optativo (incluindo relatórios anuais, declarações de procuração e demonstrações financeiras), seja por e-mail ou por notificação por e-mail de um local do site onde esses documentos foram publicados. O Optionee pode, a qualquer momento (i) revogar este consentimento para enviar por e-mail esses documentos; (ii) atualizar o endereço de e-mail para entrega desses documentos; (iii) obter gratuitamente uma cópia em papel desses documentos, em cada caso, escrevendo a Companhia em 1130 West Pender Street, Suite 230, Vancouver, British Columbia, Canadá V6E 4A4. O Optionee pode solicitar uma cópia eletrônica de qualquer desses documentos solicitando uma cópia por escrito da Companhia. O Optionee entende que uma conta de e-mail e hardware e software apropriados, incluindo um computador ou telefone celular compatível e uma conexão com a Internet, serão necessários para acessar os documentos entregues por e-mail.
1130 West Pender Street, Suite 230.
Vancouver, Colúmbia Britânica.
Senhoras e senhores:
Por meio deste, exerço a Opção concedida em _______________, 2012, pela WORDLOGIC CORPORATION (the & # 147; Corporation & # 148;), sujeito a todos os termos e disposições do mesmo e do Plano de Incentivos de Patrimônio (the & # 147; Plan & # 148;), e notificá-lo sobre o meu desejo de comprar ___ ações de incentivo e ___ ações não qualificadas de ações ordinárias da Corporação a um preço de $ ____ por ação de acordo com o exercício da referida Opção.
Modelo de acordo de opções de ações
Contrato de opção de compra de ações de incentivo.
Concedido no Plano de Incentivo de Ações de 2010.
1. Concessão de opção.
Este acordo evidencia a concessão pela Zipcar, Inc., uma corporação da Delaware (a & # 147; Company & # 148;), on, 20 (a & # 147; Data de concessão & # 148;) a, um funcionário da empresa (o & # 147; Participante & # 148;), de uma opção de compra, no todo ou em parte, nos termos aqui previstos e no Plano de Incentivo de Ações 2010 da Companhia (o & # 147; Plano & # 148;), um total de ações (as & # 147; Ações & # 148;) de ações ordinárias, $ .001 valor nominal por ação, da Companhia (& # 147; Stock Comum & # 148;) a $ por ação, que é o valor de mercado justo de uma ação das ações ordinárias na data da concessão. O prazo das Ações será de dez anos após a Data de Subsídio (a & # 147; Data de Exercício Final & # 148;), sujeito a rescisão antecipada no caso do encerramento do Participante, conforme especificado na Seção 3 abaixo. A aceitação desta opção significa aceitação dos termos deste contrato e do Plano, cuja cópia foi fornecida ao Participante.
Pretende-se que a opção comprovada por este acordo seja uma opção de estoque de incentivo conforme definido na Seção 422 do Código da Receita Federal de 1986, conforme emendado, e quaisquer regulamentos promulgados ao abrigo do mesmo (o & # 147; Código & # 148;)). Exceto quando indicado de outra forma pelo contexto, o termo & # 147; Participante, & # 148; conforme utilizado nesta opção, deve ser considerado como incluindo qualquer pessoa que adquira o direito de exercer esta opção válidamente sob seus termos.
2. Programação de Vesting.
Essa opção se tornará exercitável (& # 147; vest & # 148;) quanto a 25% do número original de Ações no primeiro aniversário da Data de Início do Vencimento e quanto a 2.0833% adicionais do número original de Ações no final de cada mês sucessivo após o primeiro aniversário da Data de Início de Vesting até o quarto aniversário da Data de Início do Vencimento, desde que o Participante ainda seja empregado pela Companhia. Para os propósitos deste Contrato, & # 147; Vesting Commencement Date & # 148; significa, 20.
Excepto como pode ser especificamente indicado neste documento, o Participante deve ser empregado em uma data de vencimento para a aquisição de direitos a ocorrer. Não haverá aquisição proporcionada ou parcial no período anterior a cada data de aquisição e todas as aquisições ocorrerão apenas na data de aquisição apropriada.
O direito de exercício será cumulativo para que, na medida em que a opção não seja exercida em qualquer período, na medida máxima permitida, continuará a ser exercível, no todo ou em parte, com relação a todas as Ações para as quais tenha antes da Data de Exercício Final ou o término desta opção na Seção 3 deste documento ou no Plano.
3. Exercício da Opção.
(a) Forma do Exercício. Cada eleição para exercer esta opção deve ser acompanhada de um Aviso de Exercício de Opção de Compra de acordo com o formulário em anexo, como Anexo A, assinado pelo Participante, e recebido pela Companhia em seu escritório principal, acompanhado por este.
acordo e pagamento integral na forma prevista no Plano. O Participante pode comprar menos do que o número de ações cobertas por este meio, desde que nenhum exercício parcial desta opção possa ser para qualquer ação fracionada ou para menos de dez partes inteiras.
(b) Relacionamento contínuo com a empresa exigida. Salvo disposição em contrário nesta Seção 3, esta opção não pode ser exercida, a menos que o Participante, no momento em que ele ou ela exerça essa opção, seja e tenha sido em todos os momentos desde a Data da concessão, um funcionário ou funcionário ou consultor ou conselheiro, a Companhia ou qualquer das partes ou subsidiárias da Companhia conforme definido na Seção 424 (e) ou (f) do Código (um & # 147; Participante Elegível & # 148;).
(c) Término da relação com a Companhia. Se o Participante deixar de ser um Participante Elegível por qualquer motivo, então, exceto nos casos previstos nos parágrafos (d) e (e) abaixo, o direito de exercer esta opção deve terminar três meses após essa cessação (mas, em nenhum caso após o final Data de exercício), desde que essa opção só possa ser exercida na medida em que o Participante tenha direito a exercer essa opção na data dessa cessação. Não obstante o que precede, se o Participante, antes da Data de Exercício Final, violar as disposições de não concorrência ou de confidencialidade de qualquer contrato de trabalho, confidencialidade e contrato de não divulgação ou outro acordo entre o Participante e a Companhia, o direito de exercer esta opção deve rescindir imediatamente após essa violação.
(d) Período de exercício após morte ou deficiência. Se o Participante morrer ou se tornar desativado (na acepção da Seção 22 (e) (3) do Código) antes da Data de Exercício Final, enquanto ele ou ela é um Participante Elegível e a Companhia não encerrou essa relação por & # 147 ; causa & # 148; conforme especificado no parágrafo (e) abaixo, esta opção poderá ser exercida, no prazo de um ano após a data da morte ou incapacidade do Participante, pelo Participante (ou no caso de morte por um cessionário autorizado), desde que esta opção só pode ser exercida na medida em que essa opção tenha sido exercida pelo Participante na data da sua morte ou invalidez e ainda que esta opção não possa ser exercida após a Data de Exercício Final.
(e) Término por causa. Se, antes da Data de Exercício Final, o emprego do Participante for rescindido pela Companhia por Causa (conforme definido abaixo), o direito de exercer esta opção deve terminar imediatamente após a data efetiva desse término de trabalho. Se o Participante for parte de um contrato de emprego ou de despedimento com a Companhia que contenha uma definição de & # 147; cause & # 148; para o término do emprego, & # 147; Causa & # 148; deve ter o significado atribuído a tal termo em tal acordo. Caso contrário, & # 147; Causa & # 148; significa falha intencional do Participante ou falha intencional do Participante em cumprir as suas responsabilidades com a Companhia (incluindo, sem limitação, a violação por parte do Participante de qualquer disposição de qualquer emprego, consultoria, assessoria, não divulgação, não concorrência ou outro acordo similar entre o Participante e a Companhia), conforme determinado pela Companhia, cuja determinação deve ser conclusiva. Considera-se que o Participante tenha sido dispensado por causa se a Companhia determinar, no prazo de 30 dias após a demissão do Participante, que a renúncia por causa foi justificada.
4. Direito de Primeira Recusa da Empresa.
(a) Notificação de transferência proposta. Se o Participante se propuser a vender, ceder, transferir, penhorar, hipotecar ou alienar de outra forma, por força da lei ou de outra forma (coletivamente, & # 147; transferência & # 148;) quaisquer Ações adquiridas após o exercício desta opção, então o Participante deverá primeiro informe escrito sobre a transferência proposta (o & # 147; Notificação de transferência & # 148;) para a empresa. O Aviso de Transferência deve nomear o cessionário proposto e indicar o número de ações que o Participante propõe transferir (as Ações Ofertadas & # 148;), o preço por ação e todos os outros termos e condições materiais da transferência.
(b) Direito de compra da empresa. Durante 30 dias após o recebimento desse Aviso de Transferência, a Companhia terá a opção de comprar total ou parte das Ações Ofertadas ao preço e nos termos estabelecidos no Aviso de Transferência. Caso a Companhia opte por comprar total ou parte das Ações Ofertadas, deverá notificar por escrito essa eleição para o Participante dentro desse prazo de 30 dias. No prazo de 10 dias após o recebimento dessa notificação, o Participante deverá licitar à Companhia em seus escritórios principais o certificado ou os certificados que representam as Ações Ofertadas a serem compradas pela Companhia, devidamente endossados em branco pelo Participante ou com ações devidamente endossadas poderes anexados, tudo em uma forma adequada para a transferência das Ações Ofertadas para a Companhia. Logo após o recebimento desse certificado ou certificados, a Companhia deverá enviar ou enviar ao Participante um cheque no pagamento do preço de compra para tais Ações Ofertadas; desde que, se os termos de pagamento estabelecidos no Aviso de Transferência fossem diferentes de dinheiro contra entrega, a Companhia poderá pagar as Ações Ofertadas nos mesmos termos e condições conforme estabelecido no Aviso de Transferência; e ainda que qualquer atraso na realização desse pagamento não invalide o exercício da Companhia da opção de compra das Ações Ofertadas.
(c) Ações não compradas pela empresa. Se a Companhia não optar por adquirir todas as Ações Ofertadas, o Participante poderá, no prazo de 30 dias após o vencimento da opção outorgada à Companhia nos termos da subsecção (b) acima, transferir as Ações Ofertadas que a Companhia não possui eleito para adquirir ao cessionário proposto, desde que tal transferência não seja em termos e condições mais favoráveis para o cessionário do que as contidas na Notificação de Transferência. Não obstante qualquer uma das opções acima, todas as Ações Ofertadas transferidas de acordo com esta Seção 4 permanecerão sujeitas ao direito de preferência estabelecido nesta Seção 4 e esse cessionário deverá, como condição para essa transferência, entregar à Companhia um instrumento escrito confirmando que tal cessionário estará vinculado por todos os termos e condições desta Seção 4.
(d) Conseqüências da não entrega. Após o momento em que as Ações Ofertadas devem ser entregues à Companhia para transferência para a Companhia de acordo com a subseção (b) acima, a Companhia não pagará nenhum dividendo ao Participante em razão dessas Ações Ofertadas ou permitirá ao Participante exercer qualquer dos privilégios ou direitos de um acionista em relação a tais Ações Ofertadas, mas deve, na medida do permitido por lei, tratar a Companhia como o proprietário dessas Ações Ofertadas.
(e) Transações isentas. As seguintes operações estarão isentas do disposto nesta Seção 4:
(1) qualquer transferência de Ações para ou em benefício de qualquer cônjuge, filho ou neto do Participante, ou a um fideicomisso para seu benefício;
(2) qualquer transferência de acordo com uma declaração de registro efetiva arquivada pela Companhia nos termos do Securities Act de 1933, conforme alterada (the & # 147; Securities Act & # 148;); e.
(3) a venda da totalidade ou substancialmente de todas as ações em circulação do capital social da Companhia (inclusive em conformidade com uma fusão ou consolidação);
desde que, no caso de uma transferência de acordo com a cláusula (1) acima, tais ações permanecerão sujeitas ao direito de preferência estabelecido nesta Seção 4 e esse cessionário deverá, como condição para essa transferência, entregar a a Companhia um instrumento escrito confirmando que tal cessionário estará vinculado por todos os termos e condições desta Seção 4.
(f) Atribuição de direito da empresa. The Company may assign its rights to purchase Offered Shares in any particular transaction under this Section 4 to one or more persons or entities.
(g) Termination . The provisions of this Section 4 shall terminate upon the earlier of the following events:
(1) the closing of the sale of shares of Common Stock in an underwritten public offering pursuant to an effective registration statement filed by the Company under the Securities Act; ou.
(2) the sale of all or substantially all of the outstanding shares of capital stock, assets or business of the Company, by merger, consolidation, sale of assets or otherwise (other than a merger or consolidation in which all or substantially all of the individuals and entities who were beneficial owners of the Company’s voting securities immediately prior to such transaction beneficially own, directly or indirectly, more than 75% (determined on an as-converted basis) of the outstanding securities entitled to vote generally in the election of directors of the resulting, surviving or acquiring corporation in such transaction).
(h) No Obligation to Recognize Invalid Transfer . The Company shall not be required (1) to transfer on its books any of the Shares which shall have been sold or transferred in violation of any of the provisions set forth in this Section 4, or (2) to treat as owner of such Shares or to pay dividends to any transferee to whom any such Shares shall have been so sold or transferred.
(1) At a minimum, the certificate representing Shares shall bear a legend substantially in the following form:
“The shares represented by this certificate are subject to a right of first refusal in favor of the Company, as provided in a certain stock option agreement with the Company.”
(2) Furthermore, all certificates for Shares delivered hereunder shall be subject to such stop transfer orders and other restrictions as the Company may deem advisable under the rules, regulations and other requirements of the Securities and Exchange Commission, any stock exchange upon which the Company’s common stock is then listed or any national securities exchange system upon whose system the Company’s common stock is then quoted, or any applicable Federal, state or other securities law or other applicable corporate law, and the Company may cause a legend or legends to be put on any such certificates to make appropriate reference to such restrictions.
5. Agreement in Connection with Initial Public Offering . The Participant agrees, in connection with the initial underwritten public offering of the Common Stock pursuant to a registration statement under the Securities Act, (i) not to (a) offer, pledge, announce the intention to sell, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any option, right or warrant to purchase, or otherwise transfer or dispose of, directly or indirectly, any shares of Common Stock or any other securities of the Company or (b) enter into any swap or other agreement that transfers, in whole or in part, any of the economic consequences of ownership of shares of Common Stock or other securities of the Company, whether any transaction described in clause (a) or (b) is to be settled by delivery of securities, in cash or otherwise, during the period beginning on the date of the filing of such registration statement with the Securities and Exchange Commission and ending 180 days after the date of the final p rospectus relating to the offering (plus up to an additional 34 days to the extent requested by the managing underwriters for such offering in order to address Rule 2711(f) of the National Association of Securities Dealers, Inc. or any similar successor provision), and (ii) to execute any agreement reflecting clause (i) above as may be requested by the Company or the managing underwriters at the time of such offering. The Company may impose stop-transfer instructions with respect to the shares of Common Stock or other securities subject to the foregoing restriction until the end of the “lock-up” período.
(a) Section 422 Requirement . The Shares granted hereby are intended to qualify as “incentive stock options” under Section 422 of the Code. Notwithstanding the foregoing, the Shares will not qualify as “incentive stock options,” if, among other events, (a) the Participant disposes of the Shares acquired upon exercise of this option within two years from the Grant Date or one year after such Shares were acquired pursuant to exercise of this option; (b) except in the event of the Participant’s death or disability (as described in Section 3(d) above), the Participant is not employed by the Company, a parent or a subsidiary at all times during the period beginning on Grant Date and ending on the day that is three (3) months before the date of exercise of any Shares; or (c) to the extent the aggregate fair market value of the Shares subject to “incentive stock options” held by the Participant which become exercisable for the first time in any calendar year (under all plans of the Company, a parent or a subsidiary) exceeds $100,000. For purposes of clause this paragraph, the “fair market value” of the Shares shall be determined as of the Grant Date in accordance with the terms of the Plan.
(b) Disqualifying Disposition . To the extent that any share does not qualify as an “incentive stock option,” it shall not affect the validity of such Shares and shall constitute a separate non-qualified stock option. In the event that the Participant disposes of the Shares acquired upon.
exercise of this option within two years from the Grant Date or one year after such Shares were acquired pursuant to exercise of this option, the Participant must deliver to the Company, within seven (7) days following such disposition, a written notice specifying the date on which such shares were disposed of, the number of shares so disposed, and, if such disposition was by a sale or exchange, the amount of consideration received.
(c) Withholding . No Shares will be issued pursuant to the exercise of this option unless and until the Participant pays to the Company, or makes provision satisfactory to the Company for payment of, any federal, state or local withholding taxes required by law to be withheld in respect of this option.
7. Nontransferability of Option . Except as otherwise provided herein, this option may not be sold, assigned, transferred, pledged or otherwise encumbered by the Participant, either voluntarily or by operation of law, except by will or the laws of descent and distribution, and, during the lifetime of the Participant, this option shall be exercisable only by the Participant.
8. No Rights as a Shareholder . The Participant shall have no rights as a shareholder of the Company with respect to any common stock covered by the Shares unless and until the Participant has become the holder of record of such common stock and no adjustment shall be made for dividends or other property, distributions or other rights in respect of any such common stock, except as otherwise specifically provided for in the Plan.
9. No Obligation to Continue Employment . This agreement is not an agreement of employment. This agreement does not guarantee that the Company will employ the Participant for any specific time period, nor does it modify in any respect the Company’s right to terminate or modify the Participant’s employment or compensation.
10. Governing Law . All questions concerning the construction, validity and interpretation of this agreement shall be governed by, and construed in accordance with, the laws of the State of Delaware, without regard to the choice of law principles thereof.
11. Section 409A . The intent of the parties is that benefits under this agreement be exempt from the provisions of Section 409A of the Code and, accordingly, to the maximum extent permitted, this agreement shall be interpreted to be limited, construed and interpreted in accordance with such intent. In no event whatsoever shall the Company be liable for any additional tax, interest or penalties that may be imposed on Participant by Section 409A of the Code or any damages for failing to comply with Section 409A of the Code hereunder or otherwise.
12. Provisions of the Plan . This option is subject to the provisions of the Plan (including the provisions relating to amendments to the Plan), a copy of which is furnished to the Participant with this option.
IN WITNESS WHEREOF, the Company has caused this option to be executed under its corporate seal by its duly authorized officer. This option shall take effect as a sealed instrument.
I, , hereby accept the foregoing option award agreement and agree to the terms and conditions thereof. Furthermore, I hereby acknowledge having received and read a copy of the Company’s 2010 Stock Incentive Plan and agree to comply with it and all applicable laws and regulations.
NOTICE OF STOCK OPTION EXERCISE.
25 First Street, Fourth Floor.
Cambridge, MA 02141.
Dear Sir or Madam:
I am the holder of 2 Stock Option granted to me under the Zipcar, Inc. (the “Company”) 2010 Stock Incentive Plan on 3 for the purchase of 4 shares of Common Stock of the Company at a purchase price of $ 5 per share.
I hereby exercise my option to purchase 6 shares of Common Stock (the “Shares”), for which I have enclosed 7 in the amount of 8 . Please register my stock certificate as follows:
Enter the date of exercise.
Enter either “an Incentive” or “a Nonstatutory”.
Enter the date of grant.
Enter the total number of shares of Common Stock for which the option was granted.
Enter the option exercise price per share of Common Stock.
Enter the number of shares of Common Stock to be purchased upon exercise of all or part of the option.
Enter “cash”, “personal check” or if permitted by the option or Plan, “stock certificates No. XXXX and XXXX”.
Enter the dollar amount (price per share of Common Stock times the number of shares of Common Stock to be purchased), or the number of shares tendered. Fair market value of shares tendered, together with cash or check, must cover the purchase price of the shares issued upon exercise.
Enter name(s) to appear on stock certificate: (a) Your name only; (b) Your name and other name (i. e., John Doe and Jane Doe, Joint Tenants With Right of Survivorship); or (c) In the case of a Nonstatutory option only, a Child’s name, with you as custodian (i. e., Jane Doe, Custodian for Tommy Doe). Note: There may be income and/or gift tax consequences of registering shares in a Child’s name.
Social Security Number of Holder(s).
I represent, warrant and covenant as follows:
1. I am purchasing the Shares for my own account for investment only, and not with a view to, or for sale in connection with, any distribution of the Shares in violation of the Securities Act of 1933 (the “Securities Act”), or any rule or regulation under the Securities Act.
I have had such opportunity as I have deemed adequate to obtain from representatives of the Company such information as is necessary to permit me to evaluate the merits and risks of my investment in the Company.
I have sufficient experience in business, financial and investment matters to be able to evaluate the risks involved in the purchase of the Shares and to make an informed investment decision with respect to such purchase.
I can afford a complete loss of the value of the Shares and am able to bear the economic risk of holding such Shares for an indefinite period.
I understand that (i) the Shares have not been registered under the Securities Act and are “restricted securities” within the meaning of Rule 144 under the Securities Act, (ii) the Shares cannot be sold, transferred or otherwise disposed of unless they are subsequently registered under the Securities Act or an exemption from registration is then available; (iii) in any event, the exemption from registration under Rule 144 will not be available for at least one year and even then will not be available unless a public market then exists for the Common Stock, adequate information concerning the Company is then available to the public, and other terms and conditions of Rule 144 are complied with; and (iv) there is now no registration statement on file with the Securities and Exchange Commission with respect to any stock of the Company and the Company has no obligation or current intention to register the Shares under the Securities Act.
Business Agreements.
This agreement is a type of incentive offered to the employees and also gets them interested in the performance of the company because if the company does well, the share prices will go up and the employees will benefit from it too. The agreement must contain the name of the employee, number of shares offered and the price of the shares, the date of creating the agreement etc.
You can Download the Stock Option Agreement, customize it according to your needs and Print. Stock Option Agreement Template is either in MS Word, Excel or in PDF.
Sample Stock Option Agreement.
Contrato de opção de compra de ações.
Download this USA Attorney made Original Agreement for only $9.99.
If you need any alterations or have any queries, please fill out the contact form.
By clicking the button below, I agree with the Terms & Condições.
Stock Option Agreement for Equity Incentive Plan.
This stock option agreement is intended to be used under an equity incentive plan (or stock plan). An option agreement grants to the holder of the options a right to purchase stock at a set price sometime in the future. Download this free stock option agreement below.
EQUITY INCENTIVE PLAN NOTICE OF STOCK OPTION GRANT AND STOCK OPTION AGREEMENT.
Pursuant to its [ Current Year ] Equity Incentive Plan (the “Plan”), as amended from time to time (the “Plan”), [ Company Name ] a Delaware corporation (the “Company”), hereby grants to the Optionee listed below (“Optionee”), an option to purchase the number of shares of the Company’s Common Stock set forth below, subject to the terms and conditions of the Plan and this Stock Option Agreement (this “Option Agreement”). Unless otherwise defined herein, the terms defined in the Plan shall have the same defined meanings in this Option Agreement.
1. NOTICE OF STOCK OPTION GRANT.
Date of Option Agreement:
[ Option Agreement Date ]
Vesting Start Date:
[ Vesting Start Date ]
Exercise Price per Share:
[ Exercise Price Per Share ]
Total Number of Shares Granted:
[ Number of Shares Granted ]
Preço de exercício total:
_____ Shares Incentive Stock Options.
_____ Shares Non-Statutory Stock Options.
1.1. Programação de Vesting. The Shares subject to this Option shall vest according to the following schedule: Twenty-five percent (25%) of the Shares subject to the Option (rounded down to the next whole number of shares) shall vest on the first anniversary of the Vesting Start Date and 1/48th of the Shares subject to the Option shall vest monthly thereafter so that one hundred percent (100%) of the Shares subject to the Option are vested on the fourth anniversary of the Vesting Start Date, subject to the Optionee remaining a Service Provider through each such vesting date (unless otherwise determined by the Administrator).
1.2. Termination Period . This Option may be exercised, to the extent vested, for three (3) months after Optionee ceases to be a Service Provider, or such longer period as may be applicable upon the death or Disability of Optionee as provided herein (or, if not provided herein, then as provided in the Plan), but in no event later than the Term/Expiration Date as set forth above.
1.3. Transferability . You may not transfer this Option.
2.1. Grant of Option . The Company hereby grants to the Optionee an Option to purchase the number of shares of Common Stock (the “Shares”) set forth in the Notice of Grant, at the exercise price per share set forth in the Notice of Grant (the “Exercise Price”). Notwithstanding anything to the contrary anywhere else in this Option Agreement, this grant of an Option is subject to the terms, definitions and provisions of the Plan, which is incorporated herein by reference.
2.2. Designation of Option . If designated in the Notice of Grant as an Incentive Stock Option, this Option is intended to qualify as an Incentive Stock Option as defined in Section 422 of the Code; provided, however, that to the extent that the aggregate Fair Market Value of the Common Stock with respect to which Incentive Stock Options (within the meaning of Code Section 422, but without regard to Code Section 422(d)), including the Option, are exercisable for the first time by Optionee during any calendar year (under the Plan and all other incentive stock option plans of the Company (or any “parent corporation” or “subsidiary corporation” thereof within the meaning of Code Sections 424(e) or 424(f), respectively)) exceeds $100,000, such options shall be treated as not qualifying under Code Section 422, but rather shall be treated as Non-Qualified Stock Options to the extent required by Code Section 422. The rule set forth in the preceding sentence shall be applied by taking options into account in the order in which they were granted. For purposes of these rules, the Fair Market Value of the Common Stock shall be determined as of the time the option with respect to such stock is granted.
2.3. Exercício da Opção. This Option is exercisable as follows:
2.3.1.1. This Option shall be exercisable cumulatively according to the vesting schedule set out in the Notice of Grant. For purposes of this Option Agreement, Shares subject to this Option shall vest based on Optionee’s continued status as a Service Provider, unless otherwise determined by the Administrator.
2.3.1.2. This Option may not be exercised for a fraction of a Share.
2.3.1.3. In the event of Optionee’s death, Disability or other termination of Continuous Service Status, the exercisability of this Option is governed by Section 5 below, subject to the limitations contained in this Section 2.3.
2.3.1.4. In no event may this Option be exercised after the Expiration Date set forth in the Notice.
2.3.2. Method of Exercise . This Option shall be exercisable by written notice to the Company (in the form attached as Exhibit A) (the “Exercise Notice”). The Exercise Notice shall state the number of Shares for which the Option is being exercised, and such other representations and agreements with respect to such Shares of Common Stock as may be required by the Company pursuant to the provisions of the Plan. The Exercise Notice shall be signed by Optionee and shall be delivered in person or by certified mail to the Secretary of the Company or such other authorized representative of the Company. The Exercise Notice shall be accompanied by payment of the Exercise Price, including payment of any applicable withholding tax. No Shares shall be issued pursuant to the exercise of an Option unless such issuance and such exercise comply with all relevant provisions of law and the requirements of any stock exchange upon which the Shares may then be listed. Assuming such compliance, for income tax purposes the Shares shall be considered transferred to Optionee on the date on which the Option is exercised with respect to such Shares.
2.4. Lock-Up Agreement . Optionee hereby agrees that if so requested by the Company or any representative of the underwriters (the “Managing Underwriter”) in connection with any registration of the offering of any securities of the Company under the Securities Act, Optionee shall not sell or otherwise transfer any Shares or other securities of the Company during the 180day period (or such longer period as may be requested in writing by the Managing Underwriter and agreed to in writing by the Company) (the “Market Standoff Period”) following the effective date of a registration statement of the Company filed under the Securities Act; provided, however, that such restriction shall apply only to the first registration statement of the Company to become effective under the Securities Act that includes securities to be sold on behalf of the Company to the public in an underwritten public offering under the Securities Act. The Company may impose stoptransfer instructions with respect to securities subject to the foregoing restrictions until the end of such Market Standoff Period and these restrictions shall be binding on any transferee of such Shares. Notwithstanding the foregoing, the 180-day period may be extended for up to such number of additional days as is deemed necessary by the Company or the Managing Underwriter to continue coverage by research analysts in accordance with NASD Rule 2711 or any successor rule.
2.5. Method of Payment . Payment of the Exercise Price shall be by any of the following, or a combination thereof, at the election of the Optionee:
2.5.3. with the consent of the Administrator, a full recourse promissory note bearing interest (at no less than such rate as is a market rate of interest and which then precludes the imputation of interest under the Code), payable upon such terms as may be prescribed by the Administrator and structured to comply with Applicable Laws;
2.5.4. with the consent of the Administrator, surrender of other Shares of Common Stock of the Company which have a Fair Market Value on the date of surrender equal to the Exercise Price of the Shares as to which the Option is being exercised;
2.5.5. with the consent of the Administrator, surrendered Shares issuable upon the exercise of the Option having a Fair Market Value on the date of exercise equal to the aggregate Exercise Price of the Option or exercised portion thereof;
2.5.6. with the consent of the Administrator, property of any kind which constitutes good and valuable consideration;
2.5.7. following the Public Trading Date, with the consent of the Administrator, delivery of a notice that the Optionee has placed a market sell order with a broker with respect to Shares then issuable upon exercise of the Option and that the broker has been directed to pay a sufficient portion of the net proceeds of the sale to the Company in satisfaction of the aggregate Exercise Price; provided, that payment of such proceeds is then made to the Company upon settlement of such sale; ou.
2.5.8. with the consent of the Administrator, any combination of the foregoing methods of payment.
2.6. Restrictions on Exercise . This Option may not be exercised until the Plan has been approved by the stockholders of the Company. If the issuance of Shares upon such exercise or if the method of payment for such Shares would constitute a violation of any applicable federal or state securities or other law or regulation, then the Option may also not be exercised. The Company may require Optionee to make any representation and warranty to the Company as may be required by any applicable law or regulation before allowing the Option to be exercised.
2.7. Termination of Relationship . If Optionee ceases to be a Service Provider (other than by reason of Optionee’s death or Disability), Optionee may exercise this Option during the Termination Period set out in the Notice of Grant, to the extent the Option was vested on the date on which Optionee ceases to be a Service Provider. To the extent that the Option is not vested on the date on which Optionee ceases to be a Service Provider, or if Optionee does not exercise this Option within the time specified herein, the Option shall terminate.
2.8. Disability of Optionee . If Optionee ceases to be a Service Provider as a result of his or her Disability, Optionee may exercise the Option to the extent the Option was vested at the date on which Optionee ceases to be a Service Provider, but only within twelve (12) months from such date (and in no event later than the expiration date of the term of this Option as set forth in the Notice of Grant). To the extent that the Option is not vested at the date on which Optionee ceases to be a Service Provider, or if Optionee does not exercise such Option within the time specified herein, the Option shall terminate.
2.9. Death of Optionee . If Optionee ceases to be a Service Provider as a result of the death of Optionee, the vested portion of the Option may be exercised at any time within twelve (12) months following the date of death (and in no event later than the expiration date of the term of this Option as set forth in the Notice of Grant) by Optionee’s estate or by a person who acquires the right to exercise the Option by bequest or inheritance. To the extent that the Option is not vested on the date of death, or if the Option is not exercised within the time specified herein, the Option shall terminate.
2.10. Non-Transferability of Option . This Option may not be transferred in any manner except by will or by the laws of descent or distribution. It may be exercised during the lifetime of Optionee only by Optionee. The terms of this Option shall be binding upon the executors, administrators, heirs, successors and assigns of the Optionee.
2.11. Term of Option . This Option may be exercised only within the term set out in the Notice of Grant.
2.12. Restrictions on Shares . Optionee hereby agrees that Shares purchased upon the exercise of the Option shall be subject to such terms and conditions as the Administrator shall determine in its sole discretion, including, without limitation, restrictions on the transferability of Shares, and a right of first refusal in favor of the Company with respect to permitted transfers of Shares. Such terms and conditions may, in the Administrator’s sole discretion, be contained in the Exercise Notice with respect to the Option or in such other agreement as the Administrator shall determine and which the Optionee hereby agrees to enter into at the request of the Company.
2.13. Corporate Transactions . If the Company undergoes an Acquisition, then any surviving corporation or entity or acquiring corporation or entity, or affiliate of such corporation or entity, may assume any Awards outstanding under the Plan or may substitute similar stock awards (including an award to acquire the same consideration paid to the stockholders in the transaction) for those outstanding under the Plan. In the event any surviving corporation or entity or acquiring corporation or entity in an Acquisition, or affiliate of such corporation or entity, does not assume such Awards or does not substitute similar stock awards for those outstanding under the Plan, then with respect to (i) Awards held by participants in the Plan whose status as a Service Provider has not terminated prior to such event, the vesting of such Awards (and, if applicable, the time during which such awards may be exercised) shall be accelerated and made fully exercisable and all restrictions thereon shall lapse at least ten (10) days prior to the closing of the Acquisition (and the Awards terminated if not exercised prior to the closing of such Acquisition) and (ii) any other Awards outstanding under the Plan, such Awards shall be terminated if not exercised prior to the closing of the Acquisition.
2.14.1. Geralmente. Optionee shall, if required by the Administrator, enter into an election with the Company or a Subsidiary (in a form approved by the Company) under which any liability to the Company’s (or a Subsidiary’s) Tax Liability, including, but not limited to, National Insurance Contributions (“NICs”) and the Fringe Benefit Tax (“FBT”), is transferred to and met by Optionee. For purposes of this Section 13, Tax Liability shall mean any and all liability under non-U. S. applicable laws, rules or regulations from any income tax, the Company’s (or a Subsidiary’s) NICs, FBT or similar liability and the Optionee’s NICs, FBT or similar liability that are attributable to: (A) the grant or exercise of, or any other benefit derived by the Optionee from the Option; (B) the acquisition by Optionee of the Shares on exercise of the Option; or (C) the disposal of any Shares acquired upon exercise of the Option.
2.14.2. Tax Indemnity . Optionee shall indemnify and keep indemnified the Company and any of its Subsidiaries from and against any Tax Liability.
2.14.3. 409A Valutions . In addition, you agree and acknowledge that your rights to any Shares underlying this Option will be earned only as you provide services to the Company over time, that the grant of this Option is not as consideration for services you rendered to the Company prior to your date of hire, and that nothing in this Notice or the attached documents confers upon you any right to continue your employment or consulting relationship with the Company for any period of time, nor does it interfere in any way with your right or the Company’s right to terminate that relationship at any time, for any reason, with or without cause. Also, to the extent applicable, the Exercise Price Per Share has been set in good faith compliance with the applicable guidance issued by the IRS under Section 409A of the Code. However, there is no guarantee that the IRS will agree with the valuation, and by signing below, you agree and acknowledge that the Company shall not be held liable for any applicable costs, taxes, or penalties associated with this Option if, in fact, the IRS were to determine that this Option constitutes deferred compensation under Section 409A of the Code. You should consult with your own tax advisor concerning the tax consequences of such a determination by the IRS.
2.15. Consideration to the Company . In consideration of the grant of Options by the Company, Optionee agrees to render faithful and efficient services to the Company or any Subsidiary. Nothing in the Plan or this Agreement shall confer upon Opionee any right to (a) continue in the employ of the Company or any Subsidiary or shall interfere with or restrict in any way the rights of the Company and its Subsidiaries, which are hereby expressly reserved, to discharge Optionee, if Optionee is an Employee, or (b) continue to provide services to the Company or any Subsidiary or shall interfere with or restrict in any way the rights of the Company or its Subsidiaries, which are hereby expressly reserved, to terminate the services of Optionee, if Optionee is a Consultant, at any time for any reason whatsoever, with or without cause, except to the extent expressly provided otherwise in a written agreement between the Company and Optionee.
2.16.1. Governing Law . This Agreement and all acts and transactions pursuant hereto and the rights and obligations of the parties hereto shall be governed, construed and interpreted in accordance with the laws of the State of Delaware without giving effect to principles of conflicts of law.
2.16.2. Entire Agreement; Enforcement of Rights . This Agreement, together with the Notice to which this Agreement is attached and the Plan, sets forth the entire agreement and understanding of the parties relating to the subject matter herein and therein and merges all prior discussions between the parties. Except as contemplated under the Plan, no modification of or amendment to this Agreement, nor any waiver of any rights under this Agreement, shall be effective unless in writing signed by the parties to this Agreement. The failure by either party to enforce any rights under this Agreement shall not be construed as a waiver of any rights of such party.
2.16.3. Divisibilidade. If one or more provisions of this Agreement are held to be unenforceable under Applicable Laws, the parties agree to renegotiate such provision in good faith. In the event that the parties cannot reach a mutually agreeable and enforceable replacement for such provision, then (i) such provision shall be excluded from this Agreement, (ii) the balance of this Agreement shall be interpreted as if such provision were so excluded and (iii) the balance of this Agreement shall be enforceable in accordance with its terms. (d) Notices. Any notice required or permitted by this Agreement shall be in writing and shall be deemed sufficient upon delivery, when delivered personally or by overnight courier or sent by or fax (upon customary confirmation of receipt), or forty-eight (48) hours after being deposited in the U. S. mail as certified or registered mail with postage prepaid, addressed to the party to be notified at such party’s address or fax number as set forth on the signature page or as subsequently modified by written notice.
2.16.4. Counterparts . This Option may be executed in two or more counterparts, each of which shall be deemed an original and all of which together shall constitute one instrument.
2.16.5. Successors and Assigns. The rights and benefits of this Agreement shall inure to the benefit of, and be enforceable by the Company’s successors and assigns. The rights and obligations of Optionee under this Agreement may not be assigned without the prior written consent of the Company.
This Agreement may be executed in two or more counterparts, each of which shall be deemed an original and all of which shall constitute one document.
Optionee acknowledges receipt of a copy of the Plan and represents that he or she is familiar with the terms and provisions thereof. Optionee hereby accepts this Option subject to all of the terms and provisions hereof. Optionee has reviewed the Plan and this Option in their entirety, has had an opportunity to obtain the advice of counsel prior to executing this Option and fully understands all provisions of the Option. Optionee hereby agrees to accept as binding, conclusive and final all decisions or interpretations of the Administrator upon any questions arising under the Plan or this Option. Optionee further agrees to notify the Company upon any change in the residence address indicated below.
Name:[ Company Representative Name ]
Title:[ Representative Title ]
Name:[ Optionee Name ]
Address:[ Optionee Address ]
EXHIBIT A: EQUIT INCENTIVE PLAN EXERCISE AGREEMENT.
1. Exercise of Option . Effective as of today, [ Date ] the undersigned (“Optionee”) hereby elects to exercise Optionee’s option to purchase [ # Share To Purchase ] shares of the Common Stock (the “Shares”) of [ Name of Company ] a Delaware corporation (the “Company”), under and pursuant to the [ Year of Plan ] Equity Incentive Plan, as amended from time to time (the “Plan”) and the Stock Option Agreement dated [ Date of Option Agreement ] (the “Option Agreement”). Capitalized terms used herein without definition shall have the meanings given in the Option Agreement.
2. Representations of Optionee . Optionee acknowledges that Optionee has received, read and understood the Plan and the Option Agreement. Optionee agrees to abide by and be bound by their terms and conditions.
3.1. No Voting Rights . Until the stock certificate evidencing Shares purchased pursuant to the exercise of the Option is issued (as evidenced by the appropriate entry on the books of the Company or of a duly authorized transfer agent of the Company), no right to vote or receive dividends or any other rights as a stockholder shall exist with respect to Shares subject to the Option, notwithstanding the exercise of the Option. The Company shall issue (or cause to be issued) such stock certificate promptly after the Option is exercised. No adjustment will be made for a dividend or other right for which the record date is prior to the date the stock certificate is issued, except as provided in the Plan.
3.2. Exercising the Right of First Refusal . Optionee shall enjoy rights as a stockholder until such time as Optionee disposes of the Shares or the Company and/or its assignee(s) exercises the Right of First Refusal (as defined below) hereunder. Upon such exercise, Optionee shall have no further rights as a holder of the Shares so purchased except the right to receive payment for the Shares so purchased in accordance with the provisions of this Agreement, and Optionee shall forthwith cause the certificate(s) evidencing the Shares so purchased to be surrendered to the Company for transfer or cancellation.
4. Optionee’s Rights to Transfer Shares.
4.1. Company’s Right of First Refusal . Before any Shares held by Optionee or any permitted transferee (each, a “Holder”) may be sold, pledged, assigned, hypothecated, transferred, or otherwise disposed of (each, a “Transfer”), the Company or its assignee(s) shall have a right of first refusal to purchase the Shares proposed to be Transferred on the terms and conditions set forth in this Section 4 (the “Right of First Refusal”).
4.1.1. Notice of Proposed Transfer . In the event any Holder desires to Transfer any Shares, the Holder shall deliver to the Company a written notice (the “Notice”) stating: (w) the Holder’s bona fide intention to sell or otherwise Transfer such Shares; (x) the name of each proposed purchaser or other transferee (“Proposed Transferee”); (y) the number of Shares to be Transferred to each Proposed Transferee; and (z) the bona fide cash price or other consideration for which the Holder proposes to Transfer the Shares (the “Offered Price”), and the Holder shall offer such Shares at the Offered Price to the Company or its assignee(s).
4.1.2. Exercise of Right of First Refusal . Within thirty (30) days after receipt of the Notice, the Company and/or its assignee(s) may elect in writing to purchase all, but not less than all, of the Shares proposed to be Transferred to any one or more of the Proposed Transferees. The purchase price shall be determined in accordance with Section 4(a)(iii) hereof.
4.1.3. Purchase Price . The purchase price (“Purchase Price”) for the Shares repurchased under this Section 4 shall be the Offered Price. If the Offered Price includes consideration other than cash, the cash equivalent value of the non-cash consideration shall be determined by the Board in good faith.
4.1.4. Payment . Payment of the Purchase Price shall be made, at the option of the Company or its assignee(s), in cash (by check), by cancellation of all or a portion of any outstanding indebtedness of the Holder to the Company (or, in the case of repurchase by an assignee, to the assignee), or by any combination thereof within thirty (30) days after receipt of the Notice or in the manner and at the times mutually agreed to by the Company and the Holder.
4.1.5. Holder’s Right to Transfer . If all of the Shares proposed in the Notice to be Transferred are not purchased by the Company and/or its assignee(s) as provided in this Section 4, then the Holder may sell or otherwise Transfer such Shares to that Proposed Transferee at the Offered Price or at a higher price, provided that such sale or other Transfer is consummated within one hundred twenty (120) days after the date of the Notice and provided further that any such sale or other Transfer is effected in accordance with any applicable securities laws and the Proposed Transferee agrees in writing that the provisions of this Section 4 shall continue to apply to the Shares in the hands of such Proposed Transferee. If the Shares described in the Notice are not Transferred to the Proposed Transferee within such 120-day period, a new Notice shall be given to the Company, and the Company and/or its assignees shall again be offered the Right of First Refusal as provided herein before any Shares held by the Holder may be sold or otherwise Transferred.
4.2. Exception for Certain Family Transfers . Anything to the contrary contained in this Section 4 notwithstanding, the Transfer of any or all of the Shares during the Optionee’s lifetime or upon the Optionee’s death by will or intestacy to the Optionee’s Immediate Family or a trust for the benefit of the Optionee’s Immediate Family shall be exempt from the Right of First Refusal. As used herein, “Immediate Family” shall mean spouse, lineal descendant or antecedent, father, mother, brother or sister or stepchild (whether or not adopted). In such case, the transferee or other recipient shall receive and hold the Shares so Transferred subject to the provisions of this Section 4 (including the Right of First Refusal) and there shall be no further Transfer of such Shares except in accordance with the terms of this Section 4.
4.3. Termination of Right of First Refusal . The Right of First Refusal shall terminate as to all Shares upon a sale of Common Stock of the Company to the general public pursuant to a registration statement filed with and declared effective by the Securities and Exchange Commission under the Securities Act of 1933, as amended (a “Public Offering”).
5. Transfer Restrictions . Any transfer or sale of the Shares is subject to restrictions on transfer imposed by any applicable state and federal securities laws. Any Transfer or attempted Transfer of any of the Shares not in accordance with the terms of this Agreement, including the Right of First Refusal provided in this Agreement, shall be void and the Company may enforce the terms of this Agreement by stop transfer instructions or similar actions by the Company and its agents or designees.
6. Tax Consultation . Optionee understands that Optionee may suffer adverse tax consequences as a result of Optionee’s purchase or disposition of the Shares. Optionee represents that Optionee has consulted with any tax consultants Optionee deems advisable in connection with the purchase or disposition of the Shares and that Optionee is not relying on the Company for any tax advice.
7. Investment Representations . In connection with the purchase of the Shares, the Optionee represents to the Company the following.
7.1.1. Optionee is aware of the Company’s business affairs and financial condition and has acquired sufficient information about the Company to reach an informed and knowledgeable decision to acquire the Shares. Optionee is purchasing these securities for investment for his or her own account only and not with a view to, or for resale in connection with, any “distribution” thereof within the meaning of the Securities Act or under any applicable provision of state law. Optionee does not have any present intention to transfer the Shares to any person or entity.
7.1.2. Optionee understands that the Shares have not been registered under the Securities Act by reason of a specific exemption therefrom, which exemption depends upon, among other things, the bona fide nature of Optionee’s investment intent as expressed herein.
7.1.3. Optionee further acknowledges and understands that the securities must be held indefinitely unless they are subsequently registered under the Securities Act or an exemption from such registration is available. Optionee further acknowledges and understands that the Company is under no obligation to register the securities. Optionee understands that the certificate(s) evidencing the securities will be imprinted with a legend which prohibits the transfer of the securities unless they are registered or such registration is not required in the opinion of counsel for the Company.
7.1.4. Optionee is familiar with the provisions of Rules 144 and 701, each promulgated under the Securities Act, which, in substance, permit limited public resale of “restricted securities” acquired, directly or indirectly, from the issuer of the securities (or from an affiliate of such issuer), in a non-public offering subject to the satisfaction of certain conditions. Optionee understands that the Company provides no assurances as to whether he or she will be able to resell any or all of the Shares pursuant to Rule 144 or Rule 701, which rules require, among other things, that the Company be subject to the reporting requirements of the Securities Exchange Act of 1934, as amended, that resales of securities take place only after the holder of the Shares has held the Shares for certain specified time periods, and under certain circumstances, that resales of securities be limited in volume and take place only pursuant to brokered transactions. Notwithstanding this paragraph (d), Optionee acknowledges and agrees to the restrictions set forth in paragraph (e) below.
7.1.5. Optionee further understands that in the event all of the applicable requirements of Rule 144 or 701 are not satisfied, registration under the Securities Act, compliance with Regulation A, or some other registration exemption will be required; and that, notwithstanding the fact that Rules 144 and 701 are not exclusive, the Staff of the Securities and Exchange Commission has expressed its opinion that persons proposing to sell private placement securities other than in a registered offering and otherwise than pursuant to Rule 144 or 701 will have a substantial burden of proof in establishing that an exemption from registration is available for such offers or sales, and that such persons and their respective brokers who participate in such transactions do so at their own risk.
7.1.6. Optionee understands that Optionee may suffer adverse tax consequences as a result of Optionee’s purchase or disposition of the Shares. Optionee represents that Optionee has consulted any tax consultants Optionee deems advisable in connection with the purchase or disposition of the Shares and that Optionee is not relying on the Company for any tax advice.
8. Restrictive Legends and StopTransfer Orders.
8.1. Legends . Optionee understands and agrees that the Company shall cause the legends set forth below or legends substantially equivalent thereto, to be placed upon any certificate(s) evidencing ownership of the Shares together with any other legends that may be required by state or federal securities laws:
THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 (THE “ACT”) AND MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED, PLEDGED OR HYPOTHECATED UNLESS AND UNTIL REGISTERED UNDER THE ACT OR, IN THE OPINION OF COUNSEL IN FORM AND SUBSTANCE SATISFACTORY TO THE ISSUER OF THESE SECURITIES, SUCH OFFER, SALE OR TRANSFER, PLEDGE OR HYPOTHECATION IS IN COMPLIANCE THEREWITH.
THE SHARES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO CERTAIN RESTRICTIONS ON TRANSFER AND RIGHT OF FIRST REFUSAL OPTIONS HELD BY THE ISSUER OR ITS ASSIGNEE(S) AS SET FORTH IN THE EXERCISE NOTICE BETWEEN THE ISSUER AND THE ORIGINAL HOLDER OF THESE SHARES, A COPY OF WHICH MAY BE OBTAINED AT THE PRINCIPAL OFFICE OF THE ISSUER. SUCH TRANSFER RESTRICTIONS AND RIGHT OF FIRST REFUSAL ARE BINDING ON TRANSFEREES OF THESE SHARES.
8.2. StopTransfer Notices . Optionee agrees that, in order to ensure compliance with the restrictions referred to herein, the Company may issue appropriate “stop transfer” instructions to its transfer agent, if any, and that, if the Company transfers its own securities, it may make appropriate notations to the same effect in its own records.
8.3. Refusal to Transfer . The Company shall not be required (i) to transfer on its books any Shares that have been sold or otherwise transferred in violation of any of the provisions of this Agreement or (ii) to treat as owner of such Shares or to accord the right to vote or pay dividends to any purchaser or other transferee to whom such Shares shall have been so transferred.
9. No Employment Rights . Nothing in this Agreement shall affect in any manner whatsoever the right or power of the Company, or a parent or subsidiary of the Company, to terminate Purchaser’s employment or consulting relationship, for any reason, with or without cause.
10.1. Successors and Assigns . The Company may assign any of its rights under this Agreement to single or multiple assignees, and this Agreement shall inure to the benefit of the successors and assigns of the Company. Subject to the restrictions on transfer herein set forth, this Agreement shall be binding upon Optionee and his or her heirs, executors, administrators, successors and assigns.
10.2. Interpretation . Any dispute regarding the interpretation of this Agreement shall be submitted by Optionee or by the Company forthwith to the Company’s Board of Directors or committee thereof that is responsible for the administration of the Plan (the “Administrator”), which shall review such dispute at its next regular meeting. The resolution of such a dispute by the Administrator shall be final and binding on the Company and on Optionee.
10.3. Governing Law; Divisibilidade. This Agreement shall be governed by and construed in accordance with the laws of the State of Delaware excluding that body of law pertaining to conflicts of law. Should any provision of this Agreement be determined by a court of law to be illegal or unenforceable, the other provisions shall nevertheless remain effective and shall remain enforceable.
10.4. Notices . Any notice required or permitted hereunder shall be given in writing and shall be deemed effectively given upon personal delivery or upon deposit in the United States mail by certified mail, with postage and fees prepaid, addressed to the other party at its address as shown below beneath its signature, or to such other address as such party may designate in writing from time to time to the other party.
10.5. Delivery of Payment . The Optionee herewith delivers to the Company the full Exercise Price for the Shares, as well as any applicable withholding tax.
10.6. Entire Agreement . The Plan and Option Agreement are incorporated herein by reference. This Agreement, the Plan, the Option Agreement and the Investment Representation Statement constitute the entire agreement of the parties and supersede in their entirety all prior undertakings and agreements of the Company and Optionee with respect to the subject matter hereof.
Optionee represents that he or she has read this Agreement and is familiar with its terms and provisions. Optionee hereby agrees to accept as binding, conclusive and final all decisions or interpretations of the Board or other administrator of the Plan upon any questions arising under this Agreement.
IN WITNESS WHEREOF, this Stock Option Exercise Agreement is deemed made as of the date first set forth above.
Name:[ Comapny Representative Name ]
Title:[ Representative Title ]
Name:[ Optionee Name ]
Address:[ Optionee Address ]
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Contrato de opção de compra de ações de incentivo.
Concedido no Plano de Incentivo de Ações de 2010.
1. Concessão de opção.
Este acordo evidencia a concessão pela Zipcar, Inc., uma corporação da Delaware (a & # 147; Company & # 148;), on, 20 (a & # 147; Data de concessão & # 148;) a, um funcionário da empresa (o & # 147; Participante & # 148;), de uma opção de compra, no todo ou em parte, nos termos aqui previstos e no Plano de Incentivo de Ações 2010 da Companhia (o & # 147; Plano & # 148;), um total de ações (as & # 147; Ações & # 148;) de ações ordinárias, $ .001 valor nominal por ação, da Companhia (& # 147; Stock Comum & # 148;) a $ por ação, que é o valor de mercado justo de uma ação das ações ordinárias na data da concessão. O prazo das Ações será de dez anos após a Data de Subsídio (a & # 147; Data de Exercício Final & # 148;), sujeito a rescisão antecipada no caso do encerramento do Participante, conforme especificado na Seção 3 abaixo. A aceitação desta opção significa aceitação dos termos deste contrato e do Plano, cuja cópia foi fornecida ao Participante.
Pretende-se que a opção comprovada por este acordo seja uma opção de estoque de incentivo conforme definido na Seção 422 do Código da Receita Federal de 1986, conforme emendado, e quaisquer regulamentos promulgados ao abrigo do mesmo (o & # 147; Código & # 148;)). Exceto quando indicado de outra forma pelo contexto, o termo & # 147; Participante, & # 148; conforme utilizado nesta opção, deve ser considerado como incluindo qualquer pessoa que adquira o direito de exercer esta opção válidamente sob seus termos.
2. Programação de Vesting.
Essa opção se tornará exercitável (& # 147; vest & # 148;) quanto a 25% do número original de Ações no primeiro aniversário da Data de Início do Vencimento e quanto a 2.0833% adicionais do número original de Ações no final de cada mês sucessivo após o primeiro aniversário da Data de Início de Vesting até o quarto aniversário da Data de Início do Vencimento, desde que o Participante ainda seja empregado pela Companhia. Para os propósitos deste Contrato, & # 147; Vesting Commencement Date & # 148; significa, 20.
Excepto como pode ser especificamente indicado neste documento, o Participante deve ser empregado em uma data de vencimento para a aquisição de direitos a ocorrer. Não haverá aquisição proporcionada ou parcial no período anterior a cada data de aquisição e todas as aquisições ocorrerão apenas na data de aquisição apropriada.
O direito de exercício será cumulativo para que, na medida em que a opção não seja exercida em qualquer período, na medida máxima permitida, continuará a ser exercível, no todo ou em parte, com relação a todas as Ações para as quais tenha antes da Data de Exercício Final ou o término desta opção na Seção 3 deste documento ou no Plano.
3. Exercício da Opção.
(a) Forma do Exercício. Cada eleição para exercer esta opção deve ser acompanhada de um Aviso de Exercício de Opção de Compra de acordo com o formulário em anexo, como Anexo A, assinado pelo Participante, e recebido pela Companhia em seu escritório principal, acompanhado por este.
acordo e pagamento integral na forma prevista no Plano. O Participante pode comprar menos do que o número de ações cobertas por este meio, desde que nenhum exercício parcial desta opção possa ser para qualquer ação fracionada ou para menos de dez partes inteiras.
(b) Relacionamento contínuo com a empresa exigida. Salvo disposição em contrário nesta Seção 3, esta opção não pode ser exercida, a menos que o Participante, no momento em que ele ou ela exerça essa opção, seja e tenha sido em todos os momentos desde a Data da concessão, um funcionário ou funcionário ou consultor ou conselheiro, a Companhia ou qualquer das partes ou subsidiárias da Companhia conforme definido na Seção 424 (e) ou (f) do Código (um & # 147; Participante Elegível & # 148;).
(c) Término da relação com a Companhia. Se o Participante deixar de ser um Participante Elegível por qualquer motivo, então, exceto nos casos previstos nos parágrafos (d) e (e) abaixo, o direito de exercer esta opção deve terminar três meses após essa cessação (mas, em nenhum caso após o final Data de exercício), desde que essa opção só possa ser exercida na medida em que o Participante tenha direito a exercer essa opção na data dessa cessação. Não obstante o que precede, se o Participante, antes da Data de Exercício Final, violar as disposições de não concorrência ou de confidencialidade de qualquer contrato de trabalho, confidencialidade e contrato de não divulgação ou outro acordo entre o Participante e a Companhia, o direito de exercer esta opção deve rescindir imediatamente após essa violação.
(d) Período de exercício após morte ou deficiência. Se o Participante morrer ou se tornar desativado (na acepção da Seção 22 (e) (3) do Código) antes da Data de Exercício Final, enquanto ele ou ela é um Participante Elegível e a Companhia não encerrou essa relação por & # 147 ; causa & # 148; conforme especificado no parágrafo (e) abaixo, esta opção poderá ser exercida, no prazo de um ano após a data da morte ou incapacidade do Participante, pelo Participante (ou no caso de morte por um cessionário autorizado), desde que esta opção só pode ser exercida na medida em que essa opção tenha sido exercida pelo Participante na data da sua morte ou invalidez e ainda que esta opção não possa ser exercida após a Data de Exercício Final.
(e) Término por causa. Se, antes da Data de Exercício Final, o emprego do Participante for rescindido pela Companhia por Causa (conforme definido abaixo), o direito de exercer esta opção deve terminar imediatamente após a data efetiva desse término de trabalho. Se o Participante for parte de um contrato de emprego ou de despedimento com a Companhia que contenha uma definição de & # 147; cause & # 148; para o término do emprego, & # 147; Causa & # 148; deve ter o significado atribuído a tal termo em tal acordo. Caso contrário, & # 147; Causa & # 148; significa falha intencional do Participante ou falha intencional do Participante em cumprir as suas responsabilidades com a Companhia (incluindo, sem limitação, a violação por parte do Participante de qualquer disposição de qualquer emprego, consultoria, assessoria, não divulgação, não concorrência ou outro acordo similar entre o Participante e a Companhia), conforme determinado pela Companhia, cuja determinação deve ser conclusiva. Considera-se que o Participante tenha sido dispensado por causa se a Companhia determinar, no prazo de 30 dias após a demissão do Participante, que a renúncia por causa foi justificada.
4. Direito de Primeira Recusa da Empresa.
(a) Notificação de transferência proposta. Se o Participante se propuser a vender, ceder, transferir, penhorar, hipotecar ou alienar de outra forma, por força da lei ou de outra forma (coletivamente, & # 147; transferência & # 148;) quaisquer Ações adquiridas após o exercício desta opção, então o Participante deverá primeiro informe escrito sobre a transferência proposta (o & # 147; Notificação de transferência & # 148;) para a empresa. O Aviso de Transferência deve nomear o cessionário proposto e indicar o número de ações que o Participante propõe transferir (as Ações Ofertadas & # 148;), o preço por ação e todos os outros termos e condições materiais da transferência.
(b) Direito de compra da empresa. Durante 30 dias após o recebimento desse Aviso de Transferência, a Companhia terá a opção de comprar total ou parte das Ações Ofertadas ao preço e nos termos estabelecidos no Aviso de Transferência. Caso a Companhia opte por comprar total ou parte das Ações Ofertadas, deverá notificar por escrito essa eleição para o Participante dentro desse prazo de 30 dias. No prazo de 10 dias após o recebimento dessa notificação, o Participante deverá licitar à Companhia em seus escritórios principais o certificado ou os certificados que representam as Ações Ofertadas a serem compradas pela Companhia, devidamente endossados em branco pelo Participante ou com ações devidamente endossadas poderes anexados, tudo em uma forma adequada para a transferência das Ações Ofertadas para a Companhia. Logo após o recebimento desse certificado ou certificados, a Companhia deverá enviar ou enviar ao Participante um cheque no pagamento do preço de compra para tais Ações Ofertadas; desde que, se os termos de pagamento estabelecidos no Aviso de Transferência fossem diferentes de dinheiro contra entrega, a Companhia poderá pagar as Ações Ofertadas nos mesmos termos e condições conforme estabelecido no Aviso de Transferência; e ainda que qualquer atraso na realização desse pagamento não invalide o exercício da Companhia da opção de compra das Ações Ofertadas.
(c) Ações não compradas pela empresa. Se a Companhia não optar por adquirir todas as Ações Ofertadas, o Participante poderá, no prazo de 30 dias após o vencimento da opção outorgada à Companhia nos termos da subsecção (b) acima, transferir as Ações Ofertadas que a Companhia não possui eleito para adquirir ao cessionário proposto, desde que tal transferência não seja em termos e condições mais favoráveis para o cessionário do que as contidas na Notificação de Transferência. Não obstante qualquer uma das opções acima, todas as Ações Ofertadas transferidas de acordo com esta Seção 4 permanecerão sujeitas ao direito de preferência estabelecido nesta Seção 4 e esse cessionário deverá, como condição para essa transferência, entregar à Companhia um instrumento escrito confirmando que tal cessionário estará vinculado por todos os termos e condições desta Seção 4.
(d) Conseqüências da não entrega. Após o momento em que as Ações Ofertadas devem ser entregues à Companhia para transferência para a Companhia de acordo com a subseção (b) acima, a Companhia não pagará nenhum dividendo ao Participante em razão dessas Ações Ofertadas ou permitirá ao Participante exercer qualquer dos privilégios ou direitos de um acionista em relação a tais Ações Ofertadas, mas deve, na medida do permitido por lei, tratar a Companhia como o proprietário dessas Ações Ofertadas.
(e) Transações isentas. As seguintes operações estarão isentas do disposto nesta Seção 4:
(1) qualquer transferência de Ações para ou em benefício de qualquer cônjuge, filho ou neto do Participante, ou a um fideicomisso para seu benefício;
(2) qualquer transferência de acordo com uma declaração de registro efetiva arquivada pela Companhia nos termos do Securities Act de 1933, conforme alterada (the & # 147; Securities Act & # 148;); e.
(3) a venda da totalidade ou substancialmente de todas as ações em circulação do capital social da Companhia (inclusive em conformidade com uma fusão ou consolidação);
desde que, no caso de uma transferência de acordo com a cláusula (1) acima, tais ações permanecerão sujeitas ao direito de preferência estabelecido nesta Seção 4 e esse cessionário deverá, como condição para essa transferência, entregar a a Companhia um instrumento escrito confirmando que tal cessionário estará vinculado por todos os termos e condições desta Seção 4.
(f) Atribuição de direito da empresa. The Company may assign its rights to purchase Offered Shares in any particular transaction under this Section 4 to one or more persons or entities.
(g) Termination . The provisions of this Section 4 shall terminate upon the earlier of the following events:
(1) the closing of the sale of shares of Common Stock in an underwritten public offering pursuant to an effective registration statement filed by the Company under the Securities Act; ou.
(2) the sale of all or substantially all of the outstanding shares of capital stock, assets or business of the Company, by merger, consolidation, sale of assets or otherwise (other than a merger or consolidation in which all or substantially all of the individuals and entities who were beneficial owners of the Company’s voting securities immediately prior to such transaction beneficially own, directly or indirectly, more than 75% (determined on an as-converted basis) of the outstanding securities entitled to vote generally in the election of directors of the resulting, surviving or acquiring corporation in such transaction).
(h) No Obligation to Recognize Invalid Transfer . The Company shall not be required (1) to transfer on its books any of the Shares which shall have been sold or transferred in violation of any of the provisions set forth in this Section 4, or (2) to treat as owner of such Shares or to pay dividends to any transferee to whom any such Shares shall have been so sold or transferred.
(1) At a minimum, the certificate representing Shares shall bear a legend substantially in the following form:
“The shares represented by this certificate are subject to a right of first refusal in favor of the Company, as provided in a certain stock option agreement with the Company.”
(2) Furthermore, all certificates for Shares delivered hereunder shall be subject to such stop transfer orders and other restrictions as the Company may deem advisable under the rules, regulations and other requirements of the Securities and Exchange Commission, any stock exchange upon which the Company’s common stock is then listed or any national securities exchange system upon whose system the Company’s common stock is then quoted, or any applicable Federal, state or other securities law or other applicable corporate law, and the Company may cause a legend or legends to be put on any such certificates to make appropriate reference to such restrictions.
5. Agreement in Connection with Initial Public Offering . The Participant agrees, in connection with the initial underwritten public offering of the Common Stock pursuant to a registration statement under the Securities Act, (i) not to (a) offer, pledge, announce the intention to sell, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any option, right or warrant to purchase, or otherwise transfer or dispose of, directly or indirectly, any shares of Common Stock or any other securities of the Company or (b) enter into any swap or other agreement that transfers, in whole or in part, any of the economic consequences of ownership of shares of Common Stock or other securities of the Company, whether any transaction described in clause (a) or (b) is to be settled by delivery of securities, in cash or otherwise, during the period beginning on the date of the filing of such registration statement with the Securities and Exchange Commission and ending 180 days after the date of the final p rospectus relating to the offering (plus up to an additional 34 days to the extent requested by the managing underwriters for such offering in order to address Rule 2711(f) of the National Association of Securities Dealers, Inc. or any similar successor provision), and (ii) to execute any agreement reflecting clause (i) above as may be requested by the Company or the managing underwriters at the time of such offering. The Company may impose stop-transfer instructions with respect to the shares of Common Stock or other securities subject to the foregoing restriction until the end of the “lock-up” período.
(a) Section 422 Requirement . The Shares granted hereby are intended to qualify as “incentive stock options” under Section 422 of the Code. Notwithstanding the foregoing, the Shares will not qualify as “incentive stock options,” if, among other events, (a) the Participant disposes of the Shares acquired upon exercise of this option within two years from the Grant Date or one year after such Shares were acquired pursuant to exercise of this option; (b) except in the event of the Participant’s death or disability (as described in Section 3(d) above), the Participant is not employed by the Company, a parent or a subsidiary at all times during the period beginning on Grant Date and ending on the day that is three (3) months before the date of exercise of any Shares; or (c) to the extent the aggregate fair market value of the Shares subject to “incentive stock options” held by the Participant which become exercisable for the first time in any calendar year (under all plans of the Company, a parent or a subsidiary) exceeds $100,000. For purposes of clause this paragraph, the “fair market value” of the Shares shall be determined as of the Grant Date in accordance with the terms of the Plan.
(b) Disqualifying Disposition . To the extent that any share does not qualify as an “incentive stock option,” it shall not affect the validity of such Shares and shall constitute a separate non-qualified stock option. In the event that the Participant disposes of the Shares acquired upon.
exercise of this option within two years from the Grant Date or one year after such Shares were acquired pursuant to exercise of this option, the Participant must deliver to the Company, within seven (7) days following such disposition, a written notice specifying the date on which such shares were disposed of, the number of shares so disposed, and, if such disposition was by a sale or exchange, the amount of consideration received.
(c) Withholding . No Shares will be issued pursuant to the exercise of this option unless and until the Participant pays to the Company, or makes provision satisfactory to the Company for payment of, any federal, state or local withholding taxes required by law to be withheld in respect of this option.
7. Nontransferability of Option . Except as otherwise provided herein, this option may not be sold, assigned, transferred, pledged or otherwise encumbered by the Participant, either voluntarily or by operation of law, except by will or the laws of descent and distribution, and, during the lifetime of the Participant, this option shall be exercisable only by the Participant.
8. No Rights as a Shareholder . The Participant shall have no rights as a shareholder of the Company with respect to any common stock covered by the Shares unless and until the Participant has become the holder of record of such common stock and no adjustment shall be made for dividends or other property, distributions or other rights in respect of any such common stock, except as otherwise specifically provided for in the Plan.
9. No Obligation to Continue Employment . This agreement is not an agreement of employment. This agreement does not guarantee that the Company will employ the Participant for any specific time period, nor does it modify in any respect the Company’s right to terminate or modify the Participant’s employment or compensation.
10. Governing Law . All questions concerning the construction, validity and interpretation of this agreement shall be governed by, and construed in accordance with, the laws of the State of Delaware, without regard to the choice of law principles thereof.
11. Section 409A . The intent of the parties is that benefits under this agreement be exempt from the provisions of Section 409A of the Code and, accordingly, to the maximum extent permitted, this agreement shall be interpreted to be limited, construed and interpreted in accordance with such intent. In no event whatsoever shall the Company be liable for any additional tax, interest or penalties that may be imposed on Participant by Section 409A of the Code or any damages for failing to comply with Section 409A of the Code hereunder or otherwise.
12. Provisions of the Plan . This option is subject to the provisions of the Plan (including the provisions relating to amendments to the Plan), a copy of which is furnished to the Participant with this option.
IN WITNESS WHEREOF, the Company has caused this option to be executed under its corporate seal by its duly authorized officer. This option shall take effect as a sealed instrument.
I, , hereby accept the foregoing option award agreement and agree to the terms and conditions thereof. Furthermore, I hereby acknowledge having received and read a copy of the Company’s 2010 Stock Incentive Plan and agree to comply with it and all applicable laws and regulations.
NOTICE OF STOCK OPTION EXERCISE.
25 First Street, Fourth Floor.
Cambridge, MA 02141.
Dear Sir or Madam:
I am the holder of 2 Stock Option granted to me under the Zipcar, Inc. (the “Company”) 2010 Stock Incentive Plan on 3 for the purchase of 4 shares of Common Stock of the Company at a purchase price of $ 5 per share.
I hereby exercise my option to purchase 6 shares of Common Stock (the “Shares”), for which I have enclosed 7 in the amount of 8 . Please register my stock certificate as follows:
Enter the date of exercise.
Enter either “an Incentive” or “a Nonstatutory”.
Enter the date of grant.
Enter the total number of shares of Common Stock for which the option was granted.
Enter the option exercise price per share of Common Stock.
Enter the number of shares of Common Stock to be purchased upon exercise of all or part of the option.
Enter “cash”, “personal check” or if permitted by the option or Plan, “stock certificates No. XXXX and XXXX”.
Enter the dollar amount (price per share of Common Stock times the number of shares of Common Stock to be purchased), or the number of shares tendered. Fair market value of shares tendered, together with cash or check, must cover the purchase price of the shares issued upon exercise.
Enter name(s) to appear on stock certificate: (a) Your name only; (b) Your name and other name (i. e., John Doe and Jane Doe, Joint Tenants With Right of Survivorship); or (c) In the case of a Nonstatutory option only, a Child’s name, with you as custodian (i. e., Jane Doe, Custodian for Tommy Doe). Note: There may be income and/or gift tax consequences of registering shares in a Child’s name.
Social Security Number of Holder(s).
I represent, warrant and covenant as follows:
1. I am purchasing the Shares for my own account for investment only, and not with a view to, or for sale in connection with, any distribution of the Shares in violation of the Securities Act of 1933 (the “Securities Act”), or any rule or regulation under the Securities Act.
I have had such opportunity as I have deemed adequate to obtain from representatives of the Company such information as is necessary to permit me to evaluate the merits and risks of my investment in the Company.
I have sufficient experience in business, financial and investment matters to be able to evaluate the risks involved in the purchase of the Shares and to make an informed investment decision with respect to such purchase.
I can afford a complete loss of the value of the Shares and am able to bear the economic risk of holding such Shares for an indefinite period.
I understand that (i) the Shares have not been registered under the Securities Act and are “restricted securities” within the meaning of Rule 144 under the Securities Act, (ii) the Shares cannot be sold, transferred or otherwise disposed of unless they are subsequently registered under the Securities Act or an exemption from registration is then available; (iii) in any event, the exemption from registration under Rule 144 will not be available for at least one year and even then will not be available unless a public market then exists for the Common Stock, adequate information concerning the Company is then available to the public, and other terms and conditions of Rule 144 are complied with; and (iv) there is now no registration statement on file with the Securities and Exchange Commission with respect to any stock of the Company and the Company has no obligation or current intention to register the Shares under the Securities Act.
Business Agreements.
This agreement is a type of incentive offered to the employees and also gets them interested in the performance of the company because if the company does well, the share prices will go up and the employees will benefit from it too. The agreement must contain the name of the employee, number of shares offered and the price of the shares, the date of creating the agreement etc.
You can Download the Stock Option Agreement, customize it according to your needs and Print. Stock Option Agreement Template is either in MS Word, Excel or in PDF.
Sample Stock Option Agreement.
Contrato de opção de compra de ações.
Download this USA Attorney made Original Agreement for only $9.99.
If you need any alterations or have any queries, please fill out the contact form.
By clicking the button below, I agree with the Terms & Condições.
Stock Option Agreement for Equity Incentive Plan.
This stock option agreement is intended to be used under an equity incentive plan (or stock plan). An option agreement grants to the holder of the options a right to purchase stock at a set price sometime in the future. Download this free stock option agreement below.
EQUITY INCENTIVE PLAN NOTICE OF STOCK OPTION GRANT AND STOCK OPTION AGREEMENT.
Pursuant to its [ Current Year ] Equity Incentive Plan (the “Plan”), as amended from time to time (the “Plan”), [ Company Name ] a Delaware corporation (the “Company”), hereby grants to the Optionee listed below (“Optionee”), an option to purchase the number of shares of the Company’s Common Stock set forth below, subject to the terms and conditions of the Plan and this Stock Option Agreement (this “Option Agreement”). Unless otherwise defined herein, the terms defined in the Plan shall have the same defined meanings in this Option Agreement.
1. NOTICE OF STOCK OPTION GRANT.
Date of Option Agreement:
[ Option Agreement Date ]
Vesting Start Date:
[ Vesting Start Date ]
Exercise Price per Share:
[ Exercise Price Per Share ]
Total Number of Shares Granted:
[ Number of Shares Granted ]
Preço de exercício total:
_____ Shares Incentive Stock Options.
_____ Shares Non-Statutory Stock Options.
1.1. Programação de Vesting. The Shares subject to this Option shall vest according to the following schedule: Twenty-five percent (25%) of the Shares subject to the Option (rounded down to the next whole number of shares) shall vest on the first anniversary of the Vesting Start Date and 1/48th of the Shares subject to the Option shall vest monthly thereafter so that one hundred percent (100%) of the Shares subject to the Option are vested on the fourth anniversary of the Vesting Start Date, subject to the Optionee remaining a Service Provider through each such vesting date (unless otherwise determined by the Administrator).
1.2. Termination Period . This Option may be exercised, to the extent vested, for three (3) months after Optionee ceases to be a Service Provider, or such longer period as may be applicable upon the death or Disability of Optionee as provided herein (or, if not provided herein, then as provided in the Plan), but in no event later than the Term/Expiration Date as set forth above.
1.3. Transferability . You may not transfer this Option.
2.1. Grant of Option . The Company hereby grants to the Optionee an Option to purchase the number of shares of Common Stock (the “Shares”) set forth in the Notice of Grant, at the exercise price per share set forth in the Notice of Grant (the “Exercise Price”). Notwithstanding anything to the contrary anywhere else in this Option Agreement, this grant of an Option is subject to the terms, definitions and provisions of the Plan, which is incorporated herein by reference.
2.2. Designation of Option . If designated in the Notice of Grant as an Incentive Stock Option, this Option is intended to qualify as an Incentive Stock Option as defined in Section 422 of the Code; provided, however, that to the extent that the aggregate Fair Market Value of the Common Stock with respect to which Incentive Stock Options (within the meaning of Code Section 422, but without regard to Code Section 422(d)), including the Option, are exercisable for the first time by Optionee during any calendar year (under the Plan and all other incentive stock option plans of the Company (or any “parent corporation” or “subsidiary corporation” thereof within the meaning of Code Sections 424(e) or 424(f), respectively)) exceeds $100,000, such options shall be treated as not qualifying under Code Section 422, but rather shall be treated as Non-Qualified Stock Options to the extent required by Code Section 422. The rule set forth in the preceding sentence shall be applied by taking options into account in the order in which they were granted. For purposes of these rules, the Fair Market Value of the Common Stock shall be determined as of the time the option with respect to such stock is granted.
2.3. Exercício da Opção. This Option is exercisable as follows:
2.3.1.1. This Option shall be exercisable cumulatively according to the vesting schedule set out in the Notice of Grant. For purposes of this Option Agreement, Shares subject to this Option shall vest based on Optionee’s continued status as a Service Provider, unless otherwise determined by the Administrator.
2.3.1.2. This Option may not be exercised for a fraction of a Share.
2.3.1.3. In the event of Optionee’s death, Disability or other termination of Continuous Service Status, the exercisability of this Option is governed by Section 5 below, subject to the limitations contained in this Section 2.3.
2.3.1.4. In no event may this Option be exercised after the Expiration Date set forth in the Notice.
2.3.2. Method of Exercise . This Option shall be exercisable by written notice to the Company (in the form attached as Exhibit A) (the “Exercise Notice”). The Exercise Notice shall state the number of Shares for which the Option is being exercised, and such other representations and agreements with respect to such Shares of Common Stock as may be required by the Company pursuant to the provisions of the Plan. The Exercise Notice shall be signed by Optionee and shall be delivered in person or by certified mail to the Secretary of the Company or such other authorized representative of the Company. The Exercise Notice shall be accompanied by payment of the Exercise Price, including payment of any applicable withholding tax. No Shares shall be issued pursuant to the exercise of an Option unless such issuance and such exercise comply with all relevant provisions of law and the requirements of any stock exchange upon which the Shares may then be listed. Assuming such compliance, for income tax purposes the Shares shall be considered transferred to Optionee on the date on which the Option is exercised with respect to such Shares.
2.4. Lock-Up Agreement . Optionee hereby agrees that if so requested by the Company or any representative of the underwriters (the “Managing Underwriter”) in connection with any registration of the offering of any securities of the Company under the Securities Act, Optionee shall not sell or otherwise transfer any Shares or other securities of the Company during the 180day period (or such longer period as may be requested in writing by the Managing Underwriter and agreed to in writing by the Company) (the “Market Standoff Period”) following the effective date of a registration statement of the Company filed under the Securities Act; provided, however, that such restriction shall apply only to the first registration statement of the Company to become effective under the Securities Act that includes securities to be sold on behalf of the Company to the public in an underwritten public offering under the Securities Act. The Company may impose stoptransfer instructions with respect to securities subject to the foregoing restrictions until the end of such Market Standoff Period and these restrictions shall be binding on any transferee of such Shares. Notwithstanding the foregoing, the 180-day period may be extended for up to such number of additional days as is deemed necessary by the Company or the Managing Underwriter to continue coverage by research analysts in accordance with NASD Rule 2711 or any successor rule.
2.5. Method of Payment . Payment of the Exercise Price shall be by any of the following, or a combination thereof, at the election of the Optionee:
2.5.3. with the consent of the Administrator, a full recourse promissory note bearing interest (at no less than such rate as is a market rate of interest and which then precludes the imputation of interest under the Code), payable upon such terms as may be prescribed by the Administrator and structured to comply with Applicable Laws;
2.5.4. with the consent of the Administrator, surrender of other Shares of Common Stock of the Company which have a Fair Market Value on the date of surrender equal to the Exercise Price of the Shares as to which the Option is being exercised;
2.5.5. with the consent of the Administrator, surrendered Shares issuable upon the exercise of the Option having a Fair Market Value on the date of exercise equal to the aggregate Exercise Price of the Option or exercised portion thereof;
2.5.6. with the consent of the Administrator, property of any kind which constitutes good and valuable consideration;
2.5.7. following the Public Trading Date, with the consent of the Administrator, delivery of a notice that the Optionee has placed a market sell order with a broker with respect to Shares then issuable upon exercise of the Option and that the broker has been directed to pay a sufficient portion of the net proceeds of the sale to the Company in satisfaction of the aggregate Exercise Price; provided, that payment of such proceeds is then made to the Company upon settlement of such sale; ou.
2.5.8. with the consent of the Administrator, any combination of the foregoing methods of payment.
2.6. Restrictions on Exercise . This Option may not be exercised until the Plan has been approved by the stockholders of the Company. If the issuance of Shares upon such exercise or if the method of payment for such Shares would constitute a violation of any applicable federal or state securities or other law or regulation, then the Option may also not be exercised. The Company may require Optionee to make any representation and warranty to the Company as may be required by any applicable law or regulation before allowing the Option to be exercised.
2.7. Termination of Relationship . If Optionee ceases to be a Service Provider (other than by reason of Optionee’s death or Disability), Optionee may exercise this Option during the Termination Period set out in the Notice of Grant, to the extent the Option was vested on the date on which Optionee ceases to be a Service Provider. To the extent that the Option is not vested on the date on which Optionee ceases to be a Service Provider, or if Optionee does not exercise this Option within the time specified herein, the Option shall terminate.
2.8. Disability of Optionee . If Optionee ceases to be a Service Provider as a result of his or her Disability, Optionee may exercise the Option to the extent the Option was vested at the date on which Optionee ceases to be a Service Provider, but only within twelve (12) months from such date (and in no event later than the expiration date of the term of this Option as set forth in the Notice of Grant). To the extent that the Option is not vested at the date on which Optionee ceases to be a Service Provider, or if Optionee does not exercise such Option within the time specified herein, the Option shall terminate.
2.9. Death of Optionee . If Optionee ceases to be a Service Provider as a result of the death of Optionee, the vested portion of the Option may be exercised at any time within twelve (12) months following the date of death (and in no event later than the expiration date of the term of this Option as set forth in the Notice of Grant) by Optionee’s estate or by a person who acquires the right to exercise the Option by bequest or inheritance. To the extent that the Option is not vested on the date of death, or if the Option is not exercised within the time specified herein, the Option shall terminate.
2.10. Non-Transferability of Option . This Option may not be transferred in any manner except by will or by the laws of descent or distribution. It may be exercised during the lifetime of Optionee only by Optionee. The terms of this Option shall be binding upon the executors, administrators, heirs, successors and assigns of the Optionee.
2.11. Term of Option . This Option may be exercised only within the term set out in the Notice of Grant.
2.12. Restrictions on Shares . Optionee hereby agrees that Shares purchased upon the exercise of the Option shall be subject to such terms and conditions as the Administrator shall determine in its sole discretion, including, without limitation, restrictions on the transferability of Shares, and a right of first refusal in favor of the Company with respect to permitted transfers of Shares. Such terms and conditions may, in the Administrator’s sole discretion, be contained in the Exercise Notice with respect to the Option or in such other agreement as the Administrator shall determine and which the Optionee hereby agrees to enter into at the request of the Company.
2.13. Corporate Transactions . If the Company undergoes an Acquisition, then any surviving corporation or entity or acquiring corporation or entity, or affiliate of such corporation or entity, may assume any Awards outstanding under the Plan or may substitute similar stock awards (including an award to acquire the same consideration paid to the stockholders in the transaction) for those outstanding under the Plan. In the event any surviving corporation or entity or acquiring corporation or entity in an Acquisition, or affiliate of such corporation or entity, does not assume such Awards or does not substitute similar stock awards for those outstanding under the Plan, then with respect to (i) Awards held by participants in the Plan whose status as a Service Provider has not terminated prior to such event, the vesting of such Awards (and, if applicable, the time during which such awards may be exercised) shall be accelerated and made fully exercisable and all restrictions thereon shall lapse at least ten (10) days prior to the closing of the Acquisition (and the Awards terminated if not exercised prior to the closing of such Acquisition) and (ii) any other Awards outstanding under the Plan, such Awards shall be terminated if not exercised prior to the closing of the Acquisition.
2.14.1. Geralmente. Optionee shall, if required by the Administrator, enter into an election with the Company or a Subsidiary (in a form approved by the Company) under which any liability to the Company’s (or a Subsidiary’s) Tax Liability, including, but not limited to, National Insurance Contributions (“NICs”) and the Fringe Benefit Tax (“FBT”), is transferred to and met by Optionee. For purposes of this Section 13, Tax Liability shall mean any and all liability under non-U. S. applicable laws, rules or regulations from any income tax, the Company’s (or a Subsidiary’s) NICs, FBT or similar liability and the Optionee’s NICs, FBT or similar liability that are attributable to: (A) the grant or exercise of, or any other benefit derived by the Optionee from the Option; (B) the acquisition by Optionee of the Shares on exercise of the Option; or (C) the disposal of any Shares acquired upon exercise of the Option.
2.14.2. Tax Indemnity . Optionee shall indemnify and keep indemnified the Company and any of its Subsidiaries from and against any Tax Liability.
2.14.3. 409A Valutions . In addition, you agree and acknowledge that your rights to any Shares underlying this Option will be earned only as you provide services to the Company over time, that the grant of this Option is not as consideration for services you rendered to the Company prior to your date of hire, and that nothing in this Notice or the attached documents confers upon you any right to continue your employment or consulting relationship with the Company for any period of time, nor does it interfere in any way with your right or the Company’s right to terminate that relationship at any time, for any reason, with or without cause. Also, to the extent applicable, the Exercise Price Per Share has been set in good faith compliance with the applicable guidance issued by the IRS under Section 409A of the Code. However, there is no guarantee that the IRS will agree with the valuation, and by signing below, you agree and acknowledge that the Company shall not be held liable for any applicable costs, taxes, or penalties associated with this Option if, in fact, the IRS were to determine that this Option constitutes deferred compensation under Section 409A of the Code. You should consult with your own tax advisor concerning the tax consequences of such a determination by the IRS.
2.15. Consideration to the Company . In consideration of the grant of Options by the Company, Optionee agrees to render faithful and efficient services to the Company or any Subsidiary. Nothing in the Plan or this Agreement shall confer upon Opionee any right to (a) continue in the employ of the Company or any Subsidiary or shall interfere with or restrict in any way the rights of the Company and its Subsidiaries, which are hereby expressly reserved, to discharge Optionee, if Optionee is an Employee, or (b) continue to provide services to the Company or any Subsidiary or shall interfere with or restrict in any way the rights of the Company or its Subsidiaries, which are hereby expressly reserved, to terminate the services of Optionee, if Optionee is a Consultant, at any time for any reason whatsoever, with or without cause, except to the extent expressly provided otherwise in a written agreement between the Company and Optionee.
2.16.1. Governing Law . This Agreement and all acts and transactions pursuant hereto and the rights and obligations of the parties hereto shall be governed, construed and interpreted in accordance with the laws of the State of Delaware without giving effect to principles of conflicts of law.
2.16.2. Entire Agreement; Enforcement of Rights . This Agreement, together with the Notice to which this Agreement is attached and the Plan, sets forth the entire agreement and understanding of the parties relating to the subject matter herein and therein and merges all prior discussions between the parties. Except as contemplated under the Plan, no modification of or amendment to this Agreement, nor any waiver of any rights under this Agreement, shall be effective unless in writing signed by the parties to this Agreement. The failure by either party to enforce any rights under this Agreement shall not be construed as a waiver of any rights of such party.
2.16.3. Divisibilidade. If one or more provisions of this Agreement are held to be unenforceable under Applicable Laws, the parties agree to renegotiate such provision in good faith. In the event that the parties cannot reach a mutually agreeable and enforceable replacement for such provision, then (i) such provision shall be excluded from this Agreement, (ii) the balance of this Agreement shall be interpreted as if such provision were so excluded and (iii) the balance of this Agreement shall be enforceable in accordance with its terms. (d) Notices. Any notice required or permitted by this Agreement shall be in writing and shall be deemed sufficient upon delivery, when delivered personally or by overnight courier or sent by or fax (upon customary confirmation of receipt), or forty-eight (48) hours after being deposited in the U. S. mail as certified or registered mail with postage prepaid, addressed to the party to be notified at such party’s address or fax number as set forth on the signature page or as subsequently modified by written notice.
2.16.4. Counterparts . This Option may be executed in two or more counterparts, each of which shall be deemed an original and all of which together shall constitute one instrument.
2.16.5. Successors and Assigns. The rights and benefits of this Agreement shall inure to the benefit of, and be enforceable by the Company’s successors and assigns. The rights and obligations of Optionee under this Agreement may not be assigned without the prior written consent of the Company.
This Agreement may be executed in two or more counterparts, each of which shall be deemed an original and all of which shall constitute one document.
Optionee acknowledges receipt of a copy of the Plan and represents that he or she is familiar with the terms and provisions thereof. Optionee hereby accepts this Option subject to all of the terms and provisions hereof. Optionee has reviewed the Plan and this Option in their entirety, has had an opportunity to obtain the advice of counsel prior to executing this Option and fully understands all provisions of the Option. Optionee hereby agrees to accept as binding, conclusive and final all decisions or interpretations of the Administrator upon any questions arising under the Plan or this Option. Optionee further agrees to notify the Company upon any change in the residence address indicated below.
Name:[ Company Representative Name ]
Title:[ Representative Title ]
Name:[ Optionee Name ]
Address:[ Optionee Address ]
EXHIBIT A: EQUIT INCENTIVE PLAN EXERCISE AGREEMENT.
1. Exercise of Option . Effective as of today, [ Date ] the undersigned (“Optionee”) hereby elects to exercise Optionee’s option to purchase [ # Share To Purchase ] shares of the Common Stock (the “Shares”) of [ Name of Company ] a Delaware corporation (the “Company”), under and pursuant to the [ Year of Plan ] Equity Incentive Plan, as amended from time to time (the “Plan”) and the Stock Option Agreement dated [ Date of Option Agreement ] (the “Option Agreement”). Capitalized terms used herein without definition shall have the meanings given in the Option Agreement.
2. Representations of Optionee . Optionee acknowledges that Optionee has received, read and understood the Plan and the Option Agreement. Optionee agrees to abide by and be bound by their terms and conditions.
3.1. No Voting Rights . Until the stock certificate evidencing Shares purchased pursuant to the exercise of the Option is issued (as evidenced by the appropriate entry on the books of the Company or of a duly authorized transfer agent of the Company), no right to vote or receive dividends or any other rights as a stockholder shall exist with respect to Shares subject to the Option, notwithstanding the exercise of the Option. The Company shall issue (or cause to be issued) such stock certificate promptly after the Option is exercised. No adjustment will be made for a dividend or other right for which the record date is prior to the date the stock certificate is issued, except as provided in the Plan.
3.2. Exercising the Right of First Refusal . Optionee shall enjoy rights as a stockholder until such time as Optionee disposes of the Shares or the Company and/or its assignee(s) exercises the Right of First Refusal (as defined below) hereunder. Upon such exercise, Optionee shall have no further rights as a holder of the Shares so purchased except the right to receive payment for the Shares so purchased in accordance with the provisions of this Agreement, and Optionee shall forthwith cause the certificate(s) evidencing the Shares so purchased to be surrendered to the Company for transfer or cancellation.
4. Optionee’s Rights to Transfer Shares.
4.1. Company’s Right of First Refusal . Before any Shares held by Optionee or any permitted transferee (each, a “Holder”) may be sold, pledged, assigned, hypothecated, transferred, or otherwise disposed of (each, a “Transfer”), the Company or its assignee(s) shall have a right of first refusal to purchase the Shares proposed to be Transferred on the terms and conditions set forth in this Section 4 (the “Right of First Refusal”).
4.1.1. Notice of Proposed Transfer . In the event any Holder desires to Transfer any Shares, the Holder shall deliver to the Company a written notice (the “Notice”) stating: (w) the Holder’s bona fide intention to sell or otherwise Transfer such Shares; (x) the name of each proposed purchaser or other transferee (“Proposed Transferee”); (y) the number of Shares to be Transferred to each Proposed Transferee; and (z) the bona fide cash price or other consideration for which the Holder proposes to Transfer the Shares (the “Offered Price”), and the Holder shall offer such Shares at the Offered Price to the Company or its assignee(s).
4.1.2. Exercise of Right of First Refusal . Within thirty (30) days after receipt of the Notice, the Company and/or its assignee(s) may elect in writing to purchase all, but not less than all, of the Shares proposed to be Transferred to any one or more of the Proposed Transferees. The purchase price shall be determined in accordance with Section 4(a)(iii) hereof.
4.1.3. Purchase Price . The purchase price (“Purchase Price”) for the Shares repurchased under this Section 4 shall be the Offered Price. If the Offered Price includes consideration other than cash, the cash equivalent value of the non-cash consideration shall be determined by the Board in good faith.
4.1.4. Payment . Payment of the Purchase Price shall be made, at the option of the Company or its assignee(s), in cash (by check), by cancellation of all or a portion of any outstanding indebtedness of the Holder to the Company (or, in the case of repurchase by an assignee, to the assignee), or by any combination thereof within thirty (30) days after receipt of the Notice or in the manner and at the times mutually agreed to by the Company and the Holder.
4.1.5. Holder’s Right to Transfer . If all of the Shares proposed in the Notice to be Transferred are not purchased by the Company and/or its assignee(s) as provided in this Section 4, then the Holder may sell or otherwise Transfer such Shares to that Proposed Transferee at the Offered Price or at a higher price, provided that such sale or other Transfer is consummated within one hundred twenty (120) days after the date of the Notice and provided further that any such sale or other Transfer is effected in accordance with any applicable securities laws and the Proposed Transferee agrees in writing that the provisions of this Section 4 shall continue to apply to the Shares in the hands of such Proposed Transferee. If the Shares described in the Notice are not Transferred to the Proposed Transferee within such 120-day period, a new Notice shall be given to the Company, and the Company and/or its assignees shall again be offered the Right of First Refusal as provided herein before any Shares held by the Holder may be sold or otherwise Transferred.
4.2. Exception for Certain Family Transfers . Anything to the contrary contained in this Section 4 notwithstanding, the Transfer of any or all of the Shares during the Optionee’s lifetime or upon the Optionee’s death by will or intestacy to the Optionee’s Immediate Family or a trust for the benefit of the Optionee’s Immediate Family shall be exempt from the Right of First Refusal. As used herein, “Immediate Family” shall mean spouse, lineal descendant or antecedent, father, mother, brother or sister or stepchild (whether or not adopted). In such case, the transferee or other recipient shall receive and hold the Shares so Transferred subject to the provisions of this Section 4 (including the Right of First Refusal) and there shall be no further Transfer of such Shares except in accordance with the terms of this Section 4.
4.3. Termination of Right of First Refusal . The Right of First Refusal shall terminate as to all Shares upon a sale of Common Stock of the Company to the general public pursuant to a registration statement filed with and declared effective by the Securities and Exchange Commission under the Securities Act of 1933, as amended (a “Public Offering”).
5. Transfer Restrictions . Any transfer or sale of the Shares is subject to restrictions on transfer imposed by any applicable state and federal securities laws. Any Transfer or attempted Transfer of any of the Shares not in accordance with the terms of this Agreement, including the Right of First Refusal provided in this Agreement, shall be void and the Company may enforce the terms of this Agreement by stop transfer instructions or similar actions by the Company and its agents or designees.
6. Tax Consultation . Optionee understands that Optionee may suffer adverse tax consequences as a result of Optionee’s purchase or disposition of the Shares. Optionee represents that Optionee has consulted with any tax consultants Optionee deems advisable in connection with the purchase or disposition of the Shares and that Optionee is not relying on the Company for any tax advice.
7. Investment Representations . In connection with the purchase of the Shares, the Optionee represents to the Company the following.
7.1.1. Optionee is aware of the Company’s business affairs and financial condition and has acquired sufficient information about the Company to reach an informed and knowledgeable decision to acquire the Shares. Optionee is purchasing these securities for investment for his or her own account only and not with a view to, or for resale in connection with, any “distribution” thereof within the meaning of the Securities Act or under any applicable provision of state law. Optionee does not have any present intention to transfer the Shares to any person or entity.
7.1.2. Optionee understands that the Shares have not been registered under the Securities Act by reason of a specific exemption therefrom, which exemption depends upon, among other things, the bona fide nature of Optionee’s investment intent as expressed herein.
7.1.3. Optionee further acknowledges and understands that the securities must be held indefinitely unless they are subsequently registered under the Securities Act or an exemption from such registration is available. Optionee further acknowledges and understands that the Company is under no obligation to register the securities. Optionee understands that the certificate(s) evidencing the securities will be imprinted with a legend which prohibits the transfer of the securities unless they are registered or such registration is not required in the opinion of counsel for the Company.
7.1.4. Optionee is familiar with the provisions of Rules 144 and 701, each promulgated under the Securities Act, which, in substance, permit limited public resale of “restricted securities” acquired, directly or indirectly, from the issuer of the securities (or from an affiliate of such issuer), in a non-public offering subject to the satisfaction of certain conditions. Optionee understands that the Company provides no assurances as to whether he or she will be able to resell any or all of the Shares pursuant to Rule 144 or Rule 701, which rules require, among other things, that the Company be subject to the reporting requirements of the Securities Exchange Act of 1934, as amended, that resales of securities take place only after the holder of the Shares has held the Shares for certain specified time periods, and under certain circumstances, that resales of securities be limited in volume and take place only pursuant to brokered transactions. Notwithstanding this paragraph (d), Optionee acknowledges and agrees to the restrictions set forth in paragraph (e) below.
7.1.5. Optionee further understands that in the event all of the applicable requirements of Rule 144 or 701 are not satisfied, registration under the Securities Act, compliance with Regulation A, or some other registration exemption will be required; and that, notwithstanding the fact that Rules 144 and 701 are not exclusive, the Staff of the Securities and Exchange Commission has expressed its opinion that persons proposing to sell private placement securities other than in a registered offering and otherwise than pursuant to Rule 144 or 701 will have a substantial burden of proof in establishing that an exemption from registration is available for such offers or sales, and that such persons and their respective brokers who participate in such transactions do so at their own risk.
7.1.6. Optionee understands that Optionee may suffer adverse tax consequences as a result of Optionee’s purchase or disposition of the Shares. Optionee represents that Optionee has consulted any tax consultants Optionee deems advisable in connection with the purchase or disposition of the Shares and that Optionee is not relying on the Company for any tax advice.
8. Restrictive Legends and StopTransfer Orders.
8.1. Legends . Optionee understands and agrees that the Company shall cause the legends set forth below or legends substantially equivalent thereto, to be placed upon any certificate(s) evidencing ownership of the Shares together with any other legends that may be required by state or federal securities laws:
THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 (THE “ACT”) AND MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED, PLEDGED OR HYPOTHECATED UNLESS AND UNTIL REGISTERED UNDER THE ACT OR, IN THE OPINION OF COUNSEL IN FORM AND SUBSTANCE SATISFACTORY TO THE ISSUER OF THESE SECURITIES, SUCH OFFER, SALE OR TRANSFER, PLEDGE OR HYPOTHECATION IS IN COMPLIANCE THEREWITH.
THE SHARES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO CERTAIN RESTRICTIONS ON TRANSFER AND RIGHT OF FIRST REFUSAL OPTIONS HELD BY THE ISSUER OR ITS ASSIGNEE(S) AS SET FORTH IN THE EXERCISE NOTICE BETWEEN THE ISSUER AND THE ORIGINAL HOLDER OF THESE SHARES, A COPY OF WHICH MAY BE OBTAINED AT THE PRINCIPAL OFFICE OF THE ISSUER. SUCH TRANSFER RESTRICTIONS AND RIGHT OF FIRST REFUSAL ARE BINDING ON TRANSFEREES OF THESE SHARES.
8.2. StopTransfer Notices . Optionee agrees that, in order to ensure compliance with the restrictions referred to herein, the Company may issue appropriate “stop transfer” instructions to its transfer agent, if any, and that, if the Company transfers its own securities, it may make appropriate notations to the same effect in its own records.
8.3. Refusal to Transfer . The Company shall not be required (i) to transfer on its books any Shares that have been sold or otherwise transferred in violation of any of the provisions of this Agreement or (ii) to treat as owner of such Shares or to accord the right to vote or pay dividends to any purchaser or other transferee to whom such Shares shall have been so transferred.
9. No Employment Rights . Nothing in this Agreement shall affect in any manner whatsoever the right or power of the Company, or a parent or subsidiary of the Company, to terminate Purchaser’s employment or consulting relationship, for any reason, with or without cause.
10.1. Successors and Assigns . The Company may assign any of its rights under this Agreement to single or multiple assignees, and this Agreement shall inure to the benefit of the successors and assigns of the Company. Subject to the restrictions on transfer herein set forth, this Agreement shall be binding upon Optionee and his or her heirs, executors, administrators, successors and assigns.
10.2. Interpretation . Any dispute regarding the interpretation of this Agreement shall be submitted by Optionee or by the Company forthwith to the Company’s Board of Directors or committee thereof that is responsible for the administration of the Plan (the “Administrator”), which shall review such dispute at its next regular meeting. The resolution of such a dispute by the Administrator shall be final and binding on the Company and on Optionee.
10.3. Governing Law; Divisibilidade. This Agreement shall be governed by and construed in accordance with the laws of the State of Delaware excluding that body of law pertaining to conflicts of law. Should any provision of this Agreement be determined by a court of law to be illegal or unenforceable, the other provisions shall nevertheless remain effective and shall remain enforceable.
10.4. Notices . Any notice required or permitted hereunder shall be given in writing and shall be deemed effectively given upon personal delivery or upon deposit in the United States mail by certified mail, with postage and fees prepaid, addressed to the other party at its address as shown below beneath its signature, or to such other address as such party may designate in writing from time to time to the other party.
10.5. Delivery of Payment . The Optionee herewith delivers to the Company the full Exercise Price for the Shares, as well as any applicable withholding tax.
10.6. Entire Agreement . The Plan and Option Agreement are incorporated herein by reference. This Agreement, the Plan, the Option Agreement and the Investment Representation Statement constitute the entire agreement of the parties and supersede in their entirety all prior undertakings and agreements of the Company and Optionee with respect to the subject matter hereof.
Optionee represents that he or she has read this Agreement and is familiar with its terms and provisions. Optionee hereby agrees to accept as binding, conclusive and final all decisions or interpretations of the Board or other administrator of the Plan upon any questions arising under this Agreement.
IN WITNESS WHEREOF, this Stock Option Exercise Agreement is deemed made as of the date first set forth above.
Name:[ Comapny Representative Name ]
Title:[ Representative Title ]
Name:[ Optionee Name ]
Address:[ Optionee Address ]
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This form has been prepared for general informational purposes only. It does not constitute legal advice, advertising, a solicitation, or tax advice. Transmission of this form and the information contained herein is not intended to create, and receipt thereof does not constitute formation of, an attorney-client relationship. You should not rely upon this document or information for any purpose without seeking legal advice from an appropriately licensed attorney, including without limitation to review and provide advice on the terms of this form, the appropriate approvals required in connection with the transactions contemplated by this form, and any securities law and other legal issues contemplated by this form or the transactions contemplated by this form.
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