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This excerpt taken from the CRDC DEF 14A filed Oct 13, 2009. Terms
of Stock Options
The plan administrator determines the exercise price for a stock
option, within the terms and conditions of the 2005 Plan and
applicable law, provided that the exercise price of an incentive
or nonstatutory stock option cannot be less than 100% of the
fair market value of our common stock on the date of grant.
Options granted under the 2005 Plan vest at the rate specified
by the plan administrator.
Generally, the plan administrator determines the term of stock
options granted under the 2005 Plan, up to a maximum of ten
years (except in the case of some incentive stock options, as
described below). Unless the terms of an optionee’s stock
option agreement provide otherwise, if an optionee’s
service relationship with us, or any of our affiliates, ceases
for any reason other than disability, death or following a
change in control, the optionee may exercise any vested options
for a period of three months following the cessation of service.
If an optionee’s service relationship with us, or any of
our affiliates, ceases due to disability or death (or an
optionee dies within a specified period following cessation of
service), the optionee or a beneficiary may exercise any vested
options for a period of 12 months, in the event of
disability, and 18 months, in the event of death. In no
event, however, may an option be exercised beyond the expiration
of its term.
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Acceptable consideration for the purchase of common stock issued
upon the exercise of a stock option will be determined by the
plan administrator and may include (i) cash or check,
(ii) a broker-assisted cashless exercise, (iii) the
tender of common stock previously owned by the optionee,
(iv) a net exercise of the option, (v) a deferred
payment arrangement, and (vi) other legal consideration
approved by the plan administrator.
Unless the plan administrator provides otherwise, options
generally are not transferable except by will, the laws of
descent and distribution, or pursuant to a domestic relations
order. An optionee may designate a beneficiary, however, who may
exercise the option following the optionee’s death.
Tax Limitations on Incentive Stock Option
Grants. Incentive stock options may be granted
only to our employees. The aggregate fair market value,
determined at the time of grant, of shares of our common stock
with respect to incentive stock options that are exercisable for
the first time by an optionee during any calendar year under all
of our stock plans may not exceed $100,000. No incentive stock
option may be granted to any person who, at the time of the
grant, owns or is deemed to own stock possessing more than 10%
of our total combined voting power or that of any of our
affiliates unless the option exercise price is at least 110% of
the fair market value of the stock subject to the option on the
date of grant and the term of the incentive stock option does
not exceed five years from the date of grant.
This excerpt taken from the CRDC DEF 14A filed Oct 9, 2008. Terms
of Stock Options
The plan administrator determines the exercise price for a stock
option, within the terms and conditions of the 2005 Plan and
applicable law, provided that the exercise price of an incentive
or nonstatutory stock option cannot be less than 100% of the
fair market value of our common stock on the date of grant.
Options granted under the 2005 Plan vest at the rate specified
by the plan administrator.
Generally, the plan administrator determines the term of stock
options granted under the 2005 Plan, up to a maximum of ten
years (except in the case of some incentive stock options, as
described below). Unless the terms of an optionee’s stock
option agreement provide otherwise, if an optionee’s
service relationship with us, or any of our affiliates, ceases
for any reason other than disability, death or following a
change in control, the optionee may exercise any vested options
for a period of three months following the cessation of service.
If an optionee’s service relationship with us, or any of
our affiliates, ceases due to disability or death (or an
optionee dies within a specified period following cessation of
service), the optionee or a beneficiary may exercise any vested
options for a period of
Table of Contents
12 months, in the event of disability, and 18 months,
in the event of death. In no event, however, may an option be
exercised beyond the expiration of its term.
Acceptable consideration for the purchase of common stock issued
upon the exercise of a stock option will be determined by the
plan administrator and may include (i) cash or check,
(ii) a broker-assisted cashless exercise, (iii) the
tender of common stock previously owned by the optionee,
(iv) a net exercise of the option, (v) a deferred
payment arrangement, and (vi) other legal consideration
approved by the plan administrator.
Unless the plan administrator provides otherwise, options
generally are not transferable except by will, the laws of
descent and distribution, or pursuant to a domestic relations
order. An optionee may designate a beneficiary, however, who may
exercise the option following the optionee’s death.
Tax Limitations on Incentive Stock Option
Grants. Incentive stock options may be granted
only to our employees. The aggregate fair market value,
determined at the time of grant, of shares of our common stock
with respect to incentive stock options that are exercisable for
the first time by an optionee during any calendar year under all
of our stock plans may not exceed $100,000. No incentive stock
option may be granted to any person who, at the time of the
grant, owns or is deemed to own stock possessing more than 10%
of our total combined voting power or that of any of our
affiliates unless the option exercise price is at least 110% of
the fair market value of the stock subject to the option on the
date of grant and the term of the incentive stock option does
not exceed five years from the date of grant.
This excerpt taken from the CRDC DEF 14A filed Oct 12, 2007. Terms
of Stock Options
The plan administrator determines the exercise price for a stock
option, within the terms and conditions of the 2005 Plan and
applicable law, provided that the exercise price of an incentive
or nonstatutory stock option cannot be less than 100% of the
fair market value of our common stock on the date of grant.
Options granted under the 2005 Plan vest at the rate specified
by the plan administrator.
Generally, the plan administrator determines the term of stock
options granted under the 2005 Plan, up to a maximum of ten
years (except in the case of some incentive stock options, as
described below). Unless the terms of an optionee’s stock
option agreement provide otherwise, if an optionee’s
service relationship with us, or any of our affiliates, ceases
for any reason other than disability, death or following a
change in control, the optionee may exercise any vested options
for a period of three months following the cessation of service.
If an optionee’s service relationship with us, or any of
our affiliates, ceases due to disability or death (or an
optionee dies within a specified period following cessation of
service), the optionee or a beneficiary may exercise any vested
options for a period of
12 months, in the event of disability, and 18 months,
in the event of death. In no event, however, may an option be
exercised beyond the expiration of its term.
Acceptable consideration for the purchase of common stock issued
upon the exercise of a stock option will be determined by the
plan administrator and may include (i) cash or check,
(ii) a broker-assisted cashless exercise, (iii) the
tender of common stock previously owned by the optionee,
(iv) a net exercise of the option, (v) a deferred
payment arrangement, and (vi) other legal consideration
approved by the plan administrator.
Unless the plan administrator provides otherwise, options
generally are not transferable except by will, the laws of
descent and distribution, or pursuant to a domestic relations
order. An optionee may designate a beneficiary, however, who may
exercise the option following the optionee’s death.
Tax Limitations on Incentive Stock Option
Grants. Incentive stock options may be granted
only to our employees. The aggregate fair market value,
determined at the time of grant, of shares of our common stock
with respect to incentive stock options that are exercisable for
the first time by an optionee during any calendar year under all
of our stock plans may not exceed $100,000. No incentive stock
option may be granted to any person who, at the time of the
grant, owns or is deemed to own stock possessing more than 10%
of our total combined voting power or that of any of our
affiliates unless the option exercise price is at least 110% of
the fair market value of the stock subject to the option on the
date of grant and the term of the incentive stock option does
not exceed five years from the date of grant.
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