Exhibit 10.1
METHODE ELECTRONICS,
INC.
2007 STOCK
PLAN
NON-QUALIFIED STOCK
OPTION
FORM AWARD
AGREEMENT
|
Date of Grant:
|
|
|
|
|
|
Name of Optionee:
|
|
|
|
|
|
Number of Shares:
|
shares
of Common Stock
|
|
|
|
|
Exercise Price Per Share:
|
$ per
share, the Fair Market Value of the shares as of the Award Date as
determined in accordance with the Methode Electronics, Inc.
2007 Stock Plan (the “Plan”)
|
|
|
|
|
Expiration Date:
|
ten years from the Award Date, or such earlier
date as provided in Section 7.01 of the Plan
|
|
|
|
|
Vesting Schedule:
|
one-third upon each of the first, second and
third annual anniversaries of the Award Date, subject to
acceleration in certain events as provided in Section 13 of
the Plan
|
Methode Electronics, Inc. (the
“Company”) hereby awards to the Optionee (the
“Optionee”) an option (the “Option”) to
purchase from the Company, for the exercise price per share set
forth above, the number of shares of Common Stock (the
“Stock”), of the Company set forth above pursuant to
the Plan. This Option is not intended to be, and shall not be
treated as, an “incentive stock option” within the
meaning of Section 422 of the Internal Revenue Code of 1986,
as amended (the “Code”).
The terms and conditions of the
Option granted hereby, to the extent not controlled by the terms
and conditions contained in the Plan, are as follows:
1.
No Right to Continued Employee
Status. Nothing
contained in this Agreement shall confer upon Optionee the right to
the continuation of his or her Employee status, or to interfere
with the right of the Company to terminate such
employment.
2.
Vesting of
Option. The Option
shall vest in accordance with the Vesting Schedule set forth
above.
3.
Exercise.
This Option shall be exercised by
delivery to the Company of (i) written notice of exercise
stating the number of shares being purchased (in whole shares only)
and such other information set forth on the form of Notice of
Exercise attached to this Agreement as Exhibit A, and
(ii) a check or cash in the amount of the Exercise
Pr
