GVHR » Topics » DIRECTOR NONQUALIFIED STOCK OPTION AWARD

This excerpt taken from the GVHR 8-K filed Nov 14, 2005.

DIRECTOR NONQUALIFIED STOCK OPTION AWARD

 

Date:                                           

 

Dear                                              :

 

Pursuant to the Terms and Conditions attached hereto and under the provisions of the Company’s 2005 Equity Incentive Plan, you have been granted a Nonqualified Stock Option (the “Option”) to purchase a number of shares of common stock (the “Option Shares”) as outlined below.

 

Granted To: ___________________

Address:                                                                  

 

 

                                                                  

Grant Date: ____________________

 

Number of Option Shares:                                                  (subject to adjustment)

 

Exercise Price Per Share:                                                    (subject to adjustment)

 

Latest Expiration Date:                                                        

 

The Option Shares shall become vested in accordance with the following Vesting Schedule. All or a portion of the Option Shares may become vested on an earlier date as provided in the attached Terms and Conditions. The Option ceases to vest upon any termination of service as a director of the Company or any Subsidiary.

 

Vesting Schedule:

 

Option Period: The vested portion of the Option may be exercised on or before the last day of service and for up to 90 days following such termination of service as a director of the Company or any Subsidiary, but no later than the above Expiration Date. If termination of service is due to death or Disability, the vested portion of the Option may be exercised for up to 12 months after you cease to be a director of the Company or any Subsidiary, but no later than the above Expiration Date. See the attached Terms and Conditions for other limitations that may apply to exercising the Option.

 

By my signature below, I hereby acknowledge receipt of the Option which has been issued to me under the provisions, and subject to the conditions, of the 2005 Equity Incentive Plan. I further acknowledge receipt of a copy of the 2005 Equity Incentive Plan and agree to all of the terms and conditions of the Option and the 2005 Equity Incentive Plan.

 

Signature:                                                  

Date:                                           

 

Keep a copy of these materials for your records. Please sign the extra copy of this award letter and return it to the Company Controller.

 

Note: If there are any discrepancies in the name or address shown above,

please make the appropriate corrections on this form.

 

 

 

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