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This excerpt taken from the MIR 10-Q filed May 8, 2008. Stock Options
21
Table of ContentsThis excerpt taken from the MIR 8-K filed May 10, 2006. Stock Options. For the first Plan Year only, each Eligible
Participant received an award of $50,000 in value of Stock Options on January 13,
2006. The number of such Stock Options was determined as provided in Section 6.2(a) above
and the Stock Options have the same terms and conditions as described in Section 6.2(b) above,
except that, subject to any earlier vesting under the provisions of the Omnibus
Incentive Plan in the case of a Change in Control, the such Stock Options will
vest and become exercisable as to one-third of the shares on the first, second
and third anniversaries of the date of grant or, if earlier, the termination of
the optionee’s service as a director of the Company due to his or her death or
Disability.
This excerpt taken from the MIR 8-K filed Jan 3, 2006. Stock Options
The exercise price for each option may be determined by the Compensation Committee in its discretion but on the date of grant must be at least equal to 100% of the fair market value of the shares on the date of grant. Each option shall expire at such time as the Compensation Committee shall determine at the time of grant, provided that no option shall be exercisable later than the 10th anniversary date of its grant. Options shall be exercisable at such times and be subject to such restrictions and conditions as the Compensation Committee shall in each instance approve, which terms and restrictions need not be the same for each grant or for each recipient. Each participant’s award agreement shall set forth the extent to which the participant shall have the right to exercise the option following termination of employment.
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