COMPOSITE TECHNOLOGY
CORPORATION
STOCK OPTION GRANT NOTICE
2008 STOCK OPTION PLAN
Composite
Technology Corporation (“Company”), pursuant to its
2008 Stock Option Plan (“2008 Plan”) and the 2008 Stock
Option Plan Stock Option Agreement (“Master Agreement”)
previously entered into by the parties, hereby grants to the
“Optionee” identified below an option to purchase the
number of shares of the Company’s common stock
(“Shares”) set forth below. This option is
subject to all of the terms and conditions set forth in this Stock
Option Grant Notice (the “Notice”), the Master
Agreement and the Plan, all of which are incorporated herein in
their entirety. Any capitalized terms not defined herein
shall have the meaning provided to such terms in the
Plan.
Optionee:
Original Date
of Grant:
Original
Exercise Price:
Original Number
of Shares Subject to Option:
Date of
Repricing: January 21, 2009
Number of
Shares subject to Option that are Repriced:
Revised
Exercise Price (Per Share): US$ 0.35
Total Exercise
Price:
Expiration
Date:
Type of Grant
[check one]: o Incentive Stock
Option x Nonstatutory Stock Option
Vesting
Schedule:
33.33% of the
Shares vest on each of the first and second anniversary of the
Original Date of Grant and 33.34% on the third anniversary of the
Original Date of Grant.
Accelerated
vesting may apply under certain events, as defined in the Master
Agreement and the 2008 Plan.
