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Exhibit 10.3
NANOSPHERE,
INC.
2000 EQUITY INCENTIVE
PLAN
OPTION AWARD
AGREEMENT
FOR
(NAME)
NANOSPHERE, INC.
2000 EQUITY INCENTIVE PLAN
OPTION AWARD AGREEMENT
1. A
STOCK OPTION to
acquire shares
(hereinafter referred to as “Shares”) of Common Stock
of Nanosphere, Inc. (hereinafter referred to as the
“Company”) is hereby granted to
(hereinafter referred to as the “Optionee”), subject in
all respects to the terms and conditions of the Nanosphere, Inc.
2000 Equity Incentive Plan (hereinafter referred to as the
“Plan”) and such other terms and conditions as are set
forth herein.
2. The
Option is intended to constitute an Incentive Stock Option under
Section 422 of the Internal Revenue Code of 1986.
3. The
Option price as determined by the Committee is One Dollar and
Forty-Seven Cents ($1.47) per Share. The Option price may be paid
in any one or a combination of cash, personal check, personal note,
Shares already owned for at least six (6) months or broker
exercise notice.
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4. |
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a. |
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The Option may be
exercised in accordance with the following table: |
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NUMBER OF SHARES |
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DATE |
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EXERCISABLE |
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January 1, 2003 |
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January 1, 2004 |
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January 1, 2005 |
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January 1, 2006 |
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b. |
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In the event of a Change
of Control, the Options shall become immediately and fully
exercisable. |
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c. |
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In the event the Optionee
should be terminated for Cause, or shall Compete, the Option shall
be immediately forfeited and any amounts received pursuant to this
Agreement shall be returned to the Company and the Option price
shall be repaid to the Optionee. |
5. The
Option may not be exercised if the issuance of Shares upon such
exercise would constitute a vio
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