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Stock Option Grant Agreement

 

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Title:

Stock Option Grant Agreement

Entities:

Icurie, Inc.

Date:

2005

Size:

Preview shows 5KB of 27KB total

Price:

$30

ID:

#1323645

 

 

► Compensation ► Grant ► Option ► Stock Option Grant Agreements

 

 

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                          STOCK OPTION GRANT AGREEMENT


UNDER THE

ICURIE, INC. 2005 STOCK INCENTIVE PLAN

This Grant Agreement (the "AGREEMENT") evidences the stock options (each,
an "OPTION" or collectively, the "OPTIONS") granted to ___________ (the
"EMPLOYEE") by iCurie, Inc., a Nevada corporation (the "COMPANY"), effective as
of ___________ (the "GRANT Date"), pursuant to the iCurie, Inc. 2005 Stock
Incentive Plan (the "PLAN") and conditioned upon the Employee's agreement to the
terms described below. All of the provisions of the Plan are expressly
incorporated into this Agreement.

1. Grant of Options. The Employee is granted __________ Options under this
Agreement. Each Option entitles the Employee to purchase from the Company, at a
price of $_____ per share (the "EXERCISE PRICE"), one share of Common Stock of
the Company. If not sooner exercised or terminated, the Options expire at 5:00
p.m. Eastern Time on the last business day prior to the tenth anniversary of the
Grant Date (the "EXPIRATION DATE").

2. Terminology. All capitalized words that are not defined in this
Agreement have the meanings ascribed to them in the Plan. For purposes of this
Agreement, the terms below have the following meanings:

(a) "CAUSE" means termination of the Employee by the Company for any
of the reasons set forth in Section ____ of the Employment Agreement.

(b) "COMPANY" includes iCurie, Inc. and its Affiliates, except where
the context otherwise requires.

(c) "EMPLOYMENT Agreement" means the employment agreement between
the Employee and the Company (and certain Affiliates) dated __________.

3. Vesting.

(a) The shares of Common Stock underlying the Options are referred
to in this Agreement as "OPTION SHARES."

(b) The Options vest in accordance with the following vesting
schedule (the "VESTING SCHEDULE") so long as the Employee is in the continuous
employ of, or in a service relationship with, the Company from the Grant Date
through the applicable date upon which vesting is scheduled to occur. No vesting
will accrue to any Options after the Employee ceases to be in either an
employment or other service relationship with the Company, except as provided
otherwise in this Agreement. The following is the Vesting Schedule:

<TABLE>
<CAPTION>
Vesting Date the Number of Options Vested as of Vesting Date
<S> <C>
---------------- -------------------------------------------
---------------- -------------------------------------------
---------------- -------------------------------------------
---------------- -------------------------------------------
---------------- -------------------------------------------
---------------- -------------------------------------------
---------------- -------------------------------------------
</TABLE>

- 1 -
<PAGE>

(c) Unless the Options have earlier terminated, the unvested Options
become fully vested upon: [DESCRIBE ADDITIONAL VESTING CONDITIONS, IF ANY]

4. Exercise of Options.

(a) Right to Exercise. The Employee may exercise the Options to the
extent vested at any time on or before the Expiration Date or the earlier
termination of the Options, unless otherwise provided in this Agreement. Section
5 below describes certain limitations on exercise of the Options that apply in
the event of the Employee's death, Total and Permanent Disability, or
termination of employment or other service relationship with the Company. The
Options may be exercised only in multiples of whole shares and may not be
exercised at any one time as to fewer than one hundred shares (or such lesser
number of shares as to which the Options are then exercisable). No fractional
shares will be issued under the Options.

(b) Exercise Procedure. In order to exercise the Options, the
following items must be delivered to the Secretary of the Company before the
expiration or termination of the Options: (i) an exercise notice, in such form
as the Administrator may require from time to time, specifying the number of
Option Shares to be purchased, and (ii) full payment of the Exercise Price for
such Option Shares or properly executed, irrevocable instructions, in such form
as the Administrator may require from time to time, to effectuate a

 

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