This excerpt taken from the ZGEN DEF 14A filed Oct 20, 2009.
If approved, the program will be open to all full-time employees of ZymoGenetics on the date the program commences, including our executive officers. For information about the interests of our executive officers, see
Benefits of the Option Exchange Program to Executive Officers. The program will not be available to the non-employee members of our Board of Directors. The program also will not be available to any former employees. If an optionee is no longer an employee with ZymoGenetics for any reason on the date that the new grants are made, even if he or she had elected to participate and had tendered his or her stock options for exchange in the exchange offer, such employee will not be able to participate in the program. Stock options must have an exercise price greater than or equal to $7.90 per share in order to be eligible for the program. Participation in the program will be voluntary. Eligible participants will be permitted to exchange their eligible stock options on a grant-by-grant basis.
If you are an employee of ZymoGenetics, a vote in favor of this proposal does not constitute an election to participate in the program.
This excerpt taken from the ZGEN DEF 14A filed Apr 25, 2006.
SECTION 5. ELIGIBILITY
An Award may be granted to any officer, director or employee of the Company or a Related Company that the Plan Administrator from time to time selects. An Award may also be granted to any consultant, advisor or independent contractor who provides services to the Company or any Related Company, so long as such Participant (a) renders bona fide services that are not in connection with the offer and sale of the Companys securities in a capital-raising transaction and (b) does not directly or indirectly promote or maintain a market for the Companys securities.
This excerpt taken from the ZGEN 10-K filed Mar 14, 2005.
Each director of the Company who is not otherwise an employee of the Company or any Related Company (an Eligible Director) shall be eligible to receive grants under the Plan, as discussed below.