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DYNAMIC RESPONSE GROUP, INC. 2009 EQUITY INCENTIVE PLAN

Equity Incentive Plan Agreement

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This Equity Incentive Plan Agreement involves

DYNAMIC RESPONSE GROUP, INC.

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Title: DYNAMIC RESPONSE GROUP, INC. 2009 EQUITY INCENTIVE PLAN
Governing Law: Florida     Date: 7/8/2009
Industry: Retail (Catalog and Mail Order)     Sector: Services

DYNAMIC RESPONSE GROUP, INC. 2009 EQUITY INCENTIVE PLAN, Parties: dynamic response group  inc.
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Exhibit 4.1

DYNAMIC RESPONSE GROUP, INC.

2009 EQUITY INCENTIVE PLAN


TABLE OF CONTENTS

 

1)     PURPOSES OF THE PLAN

  

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2)     DEFINITIONS

  

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3)     COMPLIANCE WITH APPLICABLE LAWS

  

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4)     EFFECTIVE DATE; TERM OF PLAN

  

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5)     STOCK SUBJECT TO THE PLAN

  

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A )    S HARES S UBJECT TO THE P LAN

  

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B )    L APSED A WARDS

  

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C )    R ESERVATION OF S HARES

  

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6)     ADMINISTRATION OF PLAN

  

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A )    P LAN A DMINISTRATOR

  

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B )    P OWERS OF THE A DMINISTRATOR

  

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C )    E FFECT OF A DMINISTRATOR S D ECISION

  

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D )    I NFORMATION TO BE FURNISHED TO C OMMITTEE

  

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E )    L IABILITY AND I NDEMNIFICATION OF C OMMITTEE

  

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7)     ELIGIBLE PARTICIPANTS

  

5

8)     STOCK OPTIONS

  

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A )    L IMITATIONS

  

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B )    T ERM OF O PTION

  

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C )    O PTION E XERCISE P RICE

  

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D )    V ESTING AND E XERCISE D ATES

  

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E )    F ORM OF C ONSIDERATION

  

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F )    P ROCEDURE FOR E XERCISE ; R IGHTS AS A S HAREHOLDER

  

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G )    T ERMINATION OF R ELATIONSHIP AS A S ERVICE P ROVIDER

  

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H )    D ISABILITY OF P ARTICIPANT

  

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  I )    D EATH OF P ARTICIPANT

  

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9)     RESTRICTED STOCK

  

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A )    G RANT OF R ESTRICTED S TOCK

  

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B )    R ESTRICTED S TOCK A GREEMENT

  

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C )    T RANSFERABILITY

  

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D )    O THER R ESTRICTIONS

  

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E )    R EMOVAL OF R ESTRICTIONS

  

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F )    V OTING R IGHTS

  

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G )    D IVIDENDS AND O THER D ISTRIBUTIONS

  

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H )    R ETURN OF R ESTRICTED S TOCK TO C OMPANY

  

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10)    RESTRICTED STOCK UNITS

  

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A )    G RANT OF R ESTRICTED S TOCK U NITS

  

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B )    V ESTING C RITERIA AND O THER T ERMS

  

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C )    E ARNING R ESTRICTED S TOCK U NITS

  

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D )    F ORM AND T IMING OF P AYMENT

  

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E )    C ANCELLATION

  

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11)    STOCK APPRECIATION RIGHTS

  

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A )    G RANT OF S TOCK A PPRECIATION R IGHTS

  

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B )    N UMBER OF S HARES

  

11

C )    E XERCISE P RICE AND O THER T ERMS

  

11

D )    S TOCK A PPRECIATION R IGHT A GREEMENT

  

11

 

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E )    E XPIRATION OF S TOCK A PPRECIATION R IGHTS

  

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F )    P AYMENT OF S TOCK A PPRECIATION R IGHT A MOUNT

  

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12)    PERFORMANCE UNITS AND PERFORMANCE SHARES

  

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A )    G RANT OF P ERFORMANCE U NITS /S HARES

  

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B )    V ALUE OF P ERFORMANCE U NITS /S HARES

  

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C )    P ERFORMANCE O BJECTIVES AND O THER T ERMS

  

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D )    E ARNING OF P ERFORMANCE U NITS /S HARES

  

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E )    F ORM AND T IMING OF P AYMENT OF P ERFORMANCE U NITS /S HARES

  

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F )    C ANCELLATION OF P ERFORMANCE U NITS /S HARES

  

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13)    ADJUSTMENTS; DISSOLUTION OR LIQUIDATION; MERGER OR CHANGE IN CONTROL

  

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A )    A DJUSTMENTS

  

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B )    D ISSOLUTION OR L IQUIDATION

  

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C )    C HANGE IN C ONTROL

  

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14)    TERMS AND CONDITIONS OF AWARDS

  

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A )    P ERFORMANCE C RITERIA

  

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B )    N O E FFECT ON E MPLOYMENT OR S ERVICE

  

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C )    N O E FFECT ON R ETIREMENT AND O THER B ENEFIT P LANS

  

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D )    D ATE OF G RANT

  

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E )    L EAVE OF A BSENCE /C OMPANY T RANSFER

  

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F )    R ESTRICTIONS ON T RANSFER OF A WARD

  

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G )    W ITHHOLDING

  

15

H )    C OMPLIANCE WITH L AWS U PON D ELIVERY OF S HARES

  

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  I )    I NVESTMENT A SSURANCES ; R EPRESENTATION AND W ARRANTIES OF P ARTICIPANT

  

16

  J )    I NABILITY TO O BTAIN A UTHORITY

  

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K )    R EGISTRATION OF S HARES

  

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L )    U NFUNDED O BLIGATION

  

16

15)    AMENDMENT; TERMINATION OF PLAN

  

17

16)    CONSTRUCTION OF PLAN

  

18

17)    GOVERNING LAW

  

18

 

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DYNAMIC RESPONSE GROUP, INC.

2009 EQUITY INCENTIVE PLAN

Dynamic Response Group, Inc., a Florida corporation (the “Company”), does herein set forth the terms of the Dynamic Response Group, Inc. 2009 Equity Incentive Plan (the “Plan”).

 

1)

PURPOSES OF THE PLAN

The purposes of this Plan are to (a) attract and retain employees, directors and other persons providing services to the Company and Affiliates; (b) motivate Participants, by means of appropriate incentives, to achieve long range goals; and (c) thereby promote the long term financial interests of the Company. The Plan permits the grant of Incentive Stock Options, Non-Statutory Stock Options, Restricted Stock, Restricted Stock Units, Stock Appreciation Rights, Performance Units and Performance Shares.

 

2)

DEFINITIONS

The definitions set forth on Schedule A , as amended, shall apply as used herein and in the individual Award Agreements except as defined otherwise in an individual Award Agreement. In the event a term is separately defined in an individual Award Agreement, such definition shall supersede the definition contained in the Schedule to this Section 2.

 

3)

COMPLIANCE WITH APPLICABLE LAWS

(a)     Compliance with Rule 16b-3 . This Plan is intended to comply in all respects with Rule 16b-3 (“Rule 16b-3”) promulgated by the Securities and Exchange Commission under the Exchange Act, with respect to participants who are subject to Section 16 of the Exchange Act, and any provision(s) herein that is/are contrary to Rule 16b-3 shall be deemed null and void to the extent appropriate by either the Committee or the Board.

(b)     Compliance with Code .

(i)     Section 422 . With respect to Incentive Stock Options, this Plan is intended to comply in every respect with Section 422 of the Code and the regulations promulgated thereunder. In the event any future statute or regulation shall modify the existing statute, this Plan shall be deemed to incorporate by reference such modification. Any Award Agreement relating to any Award granted pursuant to this Plan outstanding and unexercised at the time any modifying statute or regulation becomes effective shall also be deemed to incorporate by reference such modification, and no notice of such modification need be given to such Service Provider. If any provision of this Plan is determined to disqualify shares purchasable pursuant to an Award granted under this Plan from the special tax treatment provided by the Code, such provision shall be deemed null and void and to incorporate by reference the modification required to qualify the shares for said tax treatment.

(ii)     Section 162(m) . Notwithstanding any other provision of the Plan, at such time as the Administrator of the Plan is a Committee consisting solely of two or more Outside Directors and to the extent that a grant to a Covered Employee under the Plan complies with the exemption for “performance based” compensation under Section 162(m) of the Code, subject to the provisions of Section 13 relating to adjustments upon changes in the shares of Common Stock, no Participant may be granted (i) Options or Stock Appreciation Rights during any 36-month period with respect to more than 2,000,000 Shares or (ii) Restricted Stock, Performance

 

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Awards and/or Restricted Stock Unit Awards that are denominated in Shares in any 36-month period with respect to more than 1,000,000 Shares that are intended to comply with the performance-based exception under Code Section 162(m)

(collectively, the “Limitations”). In addition to the foregoing, the maximum dollar value that may be granted to any Participant for each 12 months in a Performance Period with respect to Performance Awards that are intended to comply with the performance-based exception under Code Section 162(m) and are denominated in cash is $5,000,000. If an Award is cancelled, the cancelled Award shall continue to be counted toward the applicable Limitations (or, in the case of a performance award denominated in cash, to be counted toward the dollar amount in the preceding sentence).

(iii)     Section 409A . This Plan is intended to comply and shall be administered in a manner that is intended to comply with Section 409A of the Code and shall be construed and interpreted in accordance with such intent. To the extent that an Award or the payment, settlement or deferral thereof is subject to Section 409A of the Code, the Award shall be granted, paid, settled or deferred in a manner that will comply with Section 409A of the Code, including regulations or other guidance issued with respect thereto, except as otherwise determined by the Committee. Any provision of this Plan that would cause the grant of an Award or the payment, settlement or deferral thereof to fail to satisfy Section 409A of the Code shall be amended to comply with Section 409A of the Code on a timely basis, which may be made on a retroactive basis, in accordance with regulations and other guidance issued under Section 409A of the Code.

(c)     Compliance with Other Laws and Regulations . The Plan, the grant and exercise of Awards thereunder, and the obligation of the Company to sell and deliver Shares under such Awards, shall be subject to all applicable federal and state laws, rules, and regulations and to such approvals by any government or regulatory agency as may be required. No Award may be exercised if its exercise or the receipt of Shares pursuant thereto would be contrary to applicable laws.

 

4)

EFFECTIVE DATE; TERM OF PLAN

The Plan was adopted by the Board of Directors and the holders of a majority of the holders of the voting stock of the Company on July 7, 2009 (the “Effective Date). The Plan will continue in effect for a term of ten (10) years from the Effective Date, unless terminated earlier under Section 15 of the Plan.

 

5)

STOCK SUBJECT TO THE PLAN

a)     Shares Subject to the Plan

Subject to the provisions of Section 13 of the Plan, the maximum aggregate number of shares of Common Stock that may be issued under the Plan is 5,000,000 Shares. The Common Stock subject to the Plan may be authorized but unissued shares or reacquired shares bought on the market or otherwise.

b)     Lapsed Awards

If an Award expires or becomes unexercisable without having been exercised in full, or, with respect to Restricted Stock, Restricted Stock Units, Performance Units or Performance Shares, is forfeited to or repurchased by the Company due to failure to vest, the unpurchased Shares (or for Awards other than Options or Stock Appreciation Rights the forfeited or repurchased Shares) which were subject thereto will become available for future grant or sale under the Plan (unless the Plan has terminated). With respect

 

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to Stock Appreciation Rights, only Shares actually issued pursuant to a Stock Appreciation Right will cease to be available under the

Plan; all remaining Shares under Stock Appreciation Rights will remain available for future grant or sale under the Plan (unless the Plan has terminated). Shares that have actually been issued under the Plan under any Award will not be returned to the Plan and will not become available for future distribution under the Plan; provided, however, that if Shares issued pursuant to Awards of Restricted Stock, Restricted Stock Units, Performance Shares or Performance Units are repurchased by the Company or are forfeited to the Company, such Shares will become available for future grant under the Plan. Shares used to pay the exercise price of an Award or to satisfy the tax withholding obligations related to an Award will become available for future grant or sale under the Plan. To the extent an Award under the Plan is paid out in cash rather than Shares, such cash payment will not result in reducing the number of Shares available for issuance under the Plan. Notwithstanding the foregoing and, subject to adjustment as provided in Section 13, the maximum number of Shares that may be issued upon the exercise of Incentive Stock Options will equal the aggregate Share number stated in Section 5(a), plus, to the extent allowable under Section 422 of the Code and the Treasury Regulations promulgated thereunder, any Shares that become available for issuance under the Plan pursuant to Sections 3(b) and 3(c).

c)     Reservation of Shares

During the term of this Plan, the Company will at all time reserve and keep available such number of Shares as will be sufficient to satisfy the requirements of the Plan.

 

6)

ADMINISTRATION OF PLAN

a)     Plan Administrator

The Plan shall be administered by the Board of Directors until such time as a committee of not less than two directors (the “Committee”) shall be appointed. In the discretion of the Board, a Committee may consist solely of two or more Outside Directors, in accordance with Section 162(m) of the Code, and/or solely of two or more Non-Employee Directors, in accordance with Rule 16b-3. Within the scope of such authority, the Board or the Committee may (1) delegate to a committee of one or more members of the Board who are not Outside Directors the authority to grant Awards to eligible persons who are either (a) not then Covered Employees and are not expected to be Covered Employees at the time of recognition of income resulting from such Award or (b) not persons with respect to whom the Company wishes to comply with Section 162(m) of the Code and/or) (2) delegate to a committee of one or more members of the Board who are not Non-Employee Directors the authority to grant Awards to eligible persons who are not then subject to Section 16 of the Exchange Act.

The members of the Committee shall serve at the pleasure of the Board, which may remove members from the Committee or appoint new members to the Committee from time to time, and members of the Committee may resign by written notice to the Chairman of the Board or the Secretary of the Company.

b)     Powers of the Administrator

Subject to the provisions of the Plan, and in the case of a Committee, subject to the specific duties delegated by the Board to such Committee, the Administrator will have the authority, in its discretion:

 

3


i)    to select the Employees, Directors and Consultants to whom Awards may be granted from time to time hereunder;

ii)    to determine whether and to what extent Awards are granted hereunder;

iii)    to determine the number of Shares or the amount of other consideration to be covered by each Award granted hereunder;

iv)    to approve forms of Award Agreements for use under the Plan;

v)    to determine the terms and conditions of any Award granted hereunder;

vi)    to determine the terms and conditions, not inconsistent with the terms of the Plan, of any Award granted hereunder. Such terms and conditions include, but are not limited to, the exercise price, the time or times when Awards may be exercised (which may be based on performance criteria), any vesting acceleration or waiver of forfeiture restrictions, and any restriction or limitation regarding any Award or the Shares relating thereto, based in each case on such factors as the Administrator will determine;

vii)    to construe and interpret the terms of the Plan and Awards, including without limitation, any notice of award or Award Agreement, granted pursuant to the Plan;

viii)    to prescribe, amend and rescind rules and regulations relating to the Plan, including rules and regulations relating to sub-plans established for the purpose of satisfying applicable foreign laws;

ix)    to modify or amend each Award (subject to Section 15 of the Plan), including but not limited to the discretionary authority to extend the post-termination exercise period of Awards and to extend the maximum term of an Option (subject to Section 8(b) regarding Incentive Stock Options);

x)    allow Participants to satisfy withholding tax obligations in such manner as prescribed in Section 14(g);

xi)    to authorize any person to execute on behalf of the Company any instrument required to effect the grant of an Award previously granted by the Administrator;

xii)    to allow a Participant to defer the receipt of the payment of cash or the delivery of Shares that would otherwise be due to such Participant under an Award; and

xiii)    to make all other determinations deemed necessary or advisable for administering the Plan and to take such other action, not inconsistent with the terms of the Plan, as the Administrator deems appropriate.

c)     Effect of Administrator’s Decision

The express grant in the Plan of any specific power to the Administrator shall not be construed as limiting any power or authority of the Administrator; provided that the Administrator may not exercise any right or power reserved to the Board. Any decision made, or action taken, by the Administrator or in connection with the administration of this Plan shall be final, conclusive and binding on all persons having an interest in the Plan.

 

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d)     Information to be furnished to Committee

The Company and Affiliates shall furnish the Committee such data and information as may be required for it to discharge its duties. The records of the Company and Affiliates as to an Employee or Participant’s employment (or other provision of services), termination of employment (or cessation of the provision of services), leave of absence, reemployment and compensation shall be conclusive on all persons unless determined to be incorrect. Participants and other persons entitled to benefits under the Plan must furnish the Committee such evidence, data or information, as the Committee considers desirable to carry out the terms of the Plan.

e)     Liability and Indemnification of Committee

No member or authorized delegate of the Committee shall be liable to any person for any action taken or omitted in connection with the administration of the Plan unless attributable to his own fraud, dishonesty, or willful misconduct; nor shall the Company or any Affiliate be liable to any person for any such action unless attributable to fraud, dishonesty, or willful misconduct on the part of a Director or employee of the Company or Affiliate. The Committee, the individual members thereof, and persons acting as the authorized delegates of the Committee under the Plan, shall be indemnified by the Company against any and all liabilities, losses, costs and expenses (including legal fees and expenses) of whatsoever kind and nature which may be imposed on, incurred by or asserted against the Committee or its members or authorized delegates by reason of the performance of a Committee function if the Committee or its members or authorized delegates did not act fraudulently, dishonestly or in willful violation of the law or regulation under which such liability, loss, cost or expense arises. This indemnification shall not duplicate but may supplement any coverage available under any applicable insurance.

 

7)

ELIGIBLE PARTICIPANTS

(a)    Non-Statutory Stock Options, Stock Appreciation Rights, Restricted Stock, Restricted Stock Units, Performance Shares and Performance Units may be granted to any Employee, Director or Consultant of the Company or Affiliate; except that a Consultant who performs services to the Company or any of its Subsidiaries shall be eligible to participate in the Plan only if the Consultant renders bona fide services and such services are not in connection with the offer or sale of securities in a capital-raising transaction.

(b)    Incentive Stock Options may be granted only to an Employee of the Company or a Subsidiary of the Company who has been employed (provided that a bona fide employer/employee relationship exists) by the Company or by any Subsidiary of the Company for a continuous period of at least 60 days.

(c)    A Service Provider who has been granted an Award may, if otherwise eligible, may be granted additional Awards.

(d)    The Administrator may issue Awards under the Plan in settlement, assumption or substitution for, outstanding awards or obligations to grant future awards in connection with the Company or a Affiliate acquiring another entity, an interest in another entity or an additional interest in a Affiliate whether by merger, stock purchase, asset purchase or other form of transaction.

 

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8)

STOCK OPTIONS

a)     Limitations

Each Option will be designated in the Award Agreement as either an Incentive Stock Option or a Non-Statutory Stock Option. However, notwithstanding such designation, an Option will qualify as an Incentive Stock Option under the Code only to the extent the $100,000 dollar limitation of Section 422(d) of the Code is not exceeded. The $100,000 limitation of Section 422(d) of the Code is calculated based on the aggregate Fair Market Value of the Shares subject to Options designated as Incentive Stock Options which become exercisable for the first time by a Service Provider during any calendar year (under all plans of the Company or Affiliate). For purposes of this calculation, Incentive Stock Options shall be taken into account in the order in which they were granted, and the Fair Market Value of the Shares shall be determined as of the grant date of the relevant Option.

b)     Term of Option

The term of each Option will be stated in the Award Agreement. In the case of an Incentive Stock Option, the term will be ten (10) years from the date of grant or such shorter term as may be provided in the Award Agreement. Moreover, in the case of an Incentive Stock Option granted to a Participant who, at the time the Incentive Stock Option is granted, owns stock representing more than ten percent (10%) of the total combined voting power of all classes of stock of the Company or Affiliate, the term of the Incentive Stock Option will be five (5) years from the date of grant or such shorter term as may be provided in the Award Agreement.

c)     Option Exercise Price

The per share exercise price for the Shares to be issued pursuant to exercise of an Option will be determined by the Administrator, subject to the following:

i)    In the case of an Incentive Stock Option granted to (1) an Employee who, at the time the Incentive Stock Option is granted, owns stock representing more than ten percent (10%) of the voting power of all classes of stock of the Company or any Affiliate, the per Share exercise price will be no less than one hundred ten percent (110%) of the Fair Market Value per Share on the date of grant; or (2) granted to any Employee other than an Employee described in (1) immediately above, the per Share exercise price will be no less than one hundred percent (100%) of the Fair Market Value per Share on the date of grant.

ii)    In the case of a Non-Statutory Stock Option, the per Share exercise price will be no less than one hundred percent (100%) of the Fair Market Value per Share on the date of grant.

iii)    Notwithstanding the foregoing, Options may be granted with a per Share exercise price of less than one hundred percent (100%) of the Fair Market Value per Share on the date of grant pursuant to a transaction described in, and in a manner consistent with, Section 424(a) of the Code.

 

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d)     Vesting and Exercise Dates

The total number of shares of Common Stock subject to an Option may, but need not, vest and therefore become exercisable in periodic installments that may, but need not, be equal. The Option may be subject to such other terms and conditions on the time or times when it may be exercised (which may be based on performance or other criteria) as the Administrator may deem appropriate. The vesting provisions of individual Options may vary and at the time an Option is granted, the Administrator will fix the period within which the Option may be exercised and will determine any conditions that must be satisfied before the Option may be exercised.

e)     Form of Consideration

The Administrator will determine the acceptable form of consideration for exercising an Option, including the method of payment. In the case of an Incentive Stock Option, the Administrator will determine the acceptable form of consideration at the time of grant. Such consideration may consist of (i) cash; (ii) other Shares, provided that such Shares have a Fair Market Value on the date of surrender equal to the aggregate exercise price of the Shares as to which such Option will be exercised and provided that accepting such Shares, in the sole discretion of the Administrator, will not result in any adverse accounting consequences to the Company; (iii) any other form of legal consideration that may be acceptable to the Board (which includes a cashless exercise election); (iv) any combination of the foregoing methods of payment; or (v) such other consideration and method of payment for the issuance of Shares to the extent permitted by Applicable Laws.

f)     Procedure for Exercise; Rights as a Shareholder

i)    Any Option granted hereunder will be exercisable according to the terms of the Plan and at such times and under such conditions as determined by the Administrator and set forth in the Award Agreement. An Option may not be exercised for a fraction of a Share.

ii)    An Option will be deemed exercised when the Company receives: (i) notice of exercise (in such form as the Administrator may specify from time to time) from the person entitled to exercise the Option; and (ii) full payment for the Shares with respect to which the Option is exercised (together with applicable withholding taxes). Full payment may consist of any consideration and method of payment authorized by the Administrator and permitted by the Award Agreement and the Plan. Shares issued upon exercise of an Option will be issued in the name of the Participant or, if requested by the Participant, in the name of the Participant and his or her spouse. Until the Shares are issued (as evidenced by the appropriate entry on the books of the Company or of a duly authorized transfer agent of the Company), no right to vote or receive dividends or any other rights as a shareholder will exist with respect to the Shares subject to an Option, notwithstanding the exercise of the Option. The Company will issue (or cause to be issued) such Shares promptly after the Option is exercised. No adjustment will be made for a dividend or other right for which the record date is prior to the date the Shares are issued, except as provided in Section 13 of the Plan.

iii)    Exercising an Option in any manner will decrease the number of Shares thereafter available, both for purposes of the Plan and for sale under the Option, by the number of Shares as to which the Option is exercised.

 

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g)     Termination of Relationship as a Service Provider

Unless otherwise determined by the Board at or after the time of grant, in the event a Participant’s employment shall terminate for Cause, any Stock Option granted to such Participant which is then outstanding shall be canceled and shall terminate.

If a Participant ceases to be a Service Provider, other than termination for Cause or termination as the result of the Participant’s death or Disability, the Participant may exercise his or her Option within such period of time as is specified in the Award Agreement to the extent that the Option is vested on the date of termination (but in no event later than the expiration of the term of such Option as set forth in the Award Agreement). In the absence of a specified time in the Award Agreement, the Option will remain exercisable for three (3) months following the Participant’s termination or such other date as required under Section 422 of the Code. Unless otherwise provided by the Administrator, if on the date of termination the Participant is not vested as to his or her entire Option, the Shares covered by the unvested portion of the Option will revert to the Plan. If after termination the Participant does not exercise his or her Option within the time specified by the Administrator, the Option will terminate, and the Shares covered by such Option will revert to the Plan.

h)     Disability of Participant

If a Participant ceases to be a Service Provider as a result of the Participant’s Disability, the Participant may exercise his or her Option within such period of time as is specified in the Award Agreement to the extent the Option is vested on the date of termination (but in no event later than the expiration of the term of such Option as set forth in the Award Agreement). In the absence of a specified time in the Award Agreement, the Option will remain exercisable for twelve (12) months following the Participant’s termination. Unless otherwise provided by the Administrator, if on the date of termination the Participant is not vested as to his or her entire Option, the Shares covered by the unvested portion of the Option will revert to the Plan. If after termination the Participant does not exercise his or her Option within the time specified herein, the Option will terminate, and the Shares covered by such Option will revert to the Plan.

i)     Death of Participant

If a Participant dies while a Service Provider, the Option may be exercised following the Participan


 
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