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VRSN » Topics » OPTIONS ELECTION FORM

This excerpt taken from the VRSN 8-K filed Jan 4, 2007.

OPTIONS ELECTION FORM

Before signing this election form, please make sure you have received, read and understand the terms of the Options Election (the “Options Election”) and this Options Election Form. The Options Election is subject to the terms of these documents as they may be amended. The Options Election provides certain employees who hold eligible stock options the opportunity to adjust the exercise price of certain outstanding options as described in the Options Election. The Options Election shall not be deemed to ratify any purportedly unauthorized stock options. This Options Election expires at 5:00 p.m., Pacific Time, on December 31, 2006 unless extended.

PLEASE FOLLOW THE INSTRUCTIONS ATTACHED TO THIS FORM.

If elect you participate in this Options Election, you must accept the Options Election with respect to all of the outstanding eligible options grant granted to you by VeriSign, Inc. (the “Company”). Vesting of any unvested options is subject to your continued employment with the Company through each relevant vesting date.

An “eligible option” is an option granted by VeriSign to you that meets all of the following conditions:

 

  •   the option was granted by VeriSign

 

  •   the option has an exercise price per share that was less, or may have been less, than the fair market value per share of the common stock underlying the option on the option’s grant date;

 

  •   the option was unvested as of December 31, 2004 (if only a portion of an option was unvested as of December 31, 2004, the unvested portion may be an eligible option);

 

  •   the option is outstanding as of the last date on which the Options Election remains open for acceptance; and

 

  •   the option holder is subject to taxation in the United States.

Eligible options also include any options which are later determined to have been granted at an exercise price less than fair market value as of the date of grant. Eligible options will not include any options that are later determined not to have been granted at an exercise price less than fair market value as of the date of grant.

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