BEYOND COMMERCE,
INC.
OPTION CERTIFICATE
(Non-Qualified Stock
Option)
THIS IS TO CERTIFY that Beyond Commerce, Inc., a
Nevada corporation (the “ Company ”), has
granted to the person named below (“ Optionee ”)
a stock option (the “ Option ”) to purchase
shares (the “ Option Shares ”) of the
Company’s Common Stock under its 2008 Equity Incentive Plan
(the “ Plan ”) upon the terms and conditions set
forth below and in the attached Stock Option Agreement:
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Name of
Optionee:
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Address of
Optionee:
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Number of
Option Shares:
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Option Exercise
Price:
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$
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per
share
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Date of
Grant:
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Option
Expiration Date:
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Exercise Schedule : The Option shall become exercisable
(“vest”) as follows:
[ALTERNATIVE PROVISIONS….CHOOSE ONE
BEFORE PREPARING THE CERTIFICATE]
Provided that
the Option has not been terminated prior to such date, the Option
shall “vest” on the following
schedule: One-third (1/3) of all of the Option Shares
subject to this Options shall vest on the first anniversary of the
Date of Grant; thereafter, for each of the next 24 months,
one-thirtysixth (1/36 th )
of all of the Option Shares subject to this Option shall vest at
the end of each calendar month following the first anniversary of
the Grant Date. Once vested, this Option shall
thereafter remain exercisable as to such Option Shares until the
Option Expiration Date, unless this Option is terminated pursuant
to Paragraphs 4 or 6.
IN WITNESS
WHEREOF, the Company has granted to Optionee the Option as of the
Date of Grant set forth above.
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BEYOND
COMMERCE, INC.
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By
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Its
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OPTIONEE
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STOCK OPTION
AGREEMENT
(Non-Qualified Stock
Option)
This STOCK OPTION AGREEMENT (this “
Agreement ”) is made and entered into as of the Date
of Grant set forth in the Option Certificate to which this
Agreement is attached (the “ Certificate ”) by
and between Beyond Commerce, Inc., a Nevada corporation (the
“ Company ”), and the optionee (the “
Optionee ”) named in the Certificate.
Pursuant to the 2008 Equity Incentive Plan of
the Company (the “ Plan ”), the Administrator
has determined that Optionee is to be granted, on the terms and
conditions set forth in this Agreement and in the Plan, an option
to purchase shares of the Company’s Common Stock (the “
Common Stock ”). Capitalized terms not
otherwise defined in this Agreement shall have the meanings
ascribed to them in the Plan.
The Company and Optionee agree as
follows:
1. Grant of Option . The
Company hereby grants to Optionee, upon the terms and subject to
the conditions set forth in this Agreement, an Option (the “
Option ”) to purchase all or any portion of that
number of shares of Common Stock set forth in the Certificate (the
“ Option Shares ”), at the exercise price set
forth in the Certificate (the “ Exercise Price
”).
2. Vesting
2.1. The Option shall “vest” and
become exercisable in installments upon and after the dates set
forth under the caption “Exercise Schedule” in the
Certificate. The installments shall be cumulative; i.e.,
the Option may be exercised, as to any or all Shares covered by an
installment, at any time or times after the installment first
becomes exercisable and until expiration or termination of the
Option.
2.2. No vesting shall occur after the Service
Termination Date. The “ Service Termination
Date ” shall mean the date the Optionee ceases to be an
employee, director, consultant or advisor to the Company or any of
its Affiliates. The Service Termination Date shall not
occur for so long as Optionee is an employee, director, consultant
or advisor of or to the Company or any of its
Affiliates. For purposes of this Agreement,
Optionee’s employment shall not be deemed to terminate by
reason of sick leave, military leave or other leave of absence
approved by the Administrator, if the period of any such leave does
not exceed 90 days or, if longer, if Optionee’s right to
reemployment by the Company or any Affiliate is guaranteed either
contractually or by statute.
2.3. Notwithstanding anything to the contrary
contained in this Agreement, the Option may not be exercised, in
whole or in part, unless and until (i) any then-applicable
requirements of all state and federal laws and regulatory agencies
shall have been fully complied with to the satisfaction of the
Company and its counsel, and (ii) the Optionee has repaid in full
any outstanding cash loans or advances that the Company made to
him.
3. Exercise of the Option
3.1. The Option may be exercised, in whole or in
part, only by delivery to the Company of:
3.1.1 written notice of the exercise of the
Option in form identical to Exhibit “A” attached to
this Agreement stating the number of Option Shares being purchased
(the “ Purchased Shares ”); and
3.1.2 payment of the Exercise Price (i) in cash
or cash equivalent; or (ii) with the approval of the Administrator,
by delivery to the Company of such other consideration (such as a
note or shares of Common Stock) acceptable to the Administrator and
authorized under the Plan.
3.2. Following receipt of the exercise notice,
any other applicable documents and the payment referred to above,
the Company shall, within 30 days, cause certificates representing
the Purchased Shares to be delivered to Optionee either at
Optionee’s address set forth in the records of the Company or
at such other address as Optionee may designate in writing to the
Company; provided ; however , that the Company shall
not be obligated to issue a fraction or fractions of a share
otherwise issuable upon exercise of the Option, and may pay to
Optionee, in cash or cash equivalent, the fair market value of any
such fraction or fractions of a share as of the date of
exercise.
3.3. If requested by the Administrator, Optionee
shall also deliver this Agreement to the Secretary of the Company,
who shall endorse hereon a notation of the exercise and return this
Agreement to Optionee. The date of exercise of an Option
that is validly exercised shall be deemed to be the date on which
there shall have been delivered to the Administrator the
instruments referred to in this Section 3. Optionee
shall not be deemed to be a holder of any Option Shares pursuant to
exercise of the Option until the date of issuance of a stock
certificate to him or her for such Shares following payment in full
for the Option Shares purchased.
3.4. As a condition to exercise of this Option,
the Company may require Optionee to pay over to the Company all
applicable federal, state and local taxes which the Company is
required to withhold with respect to the exercise of this
Option. At the discretion of the Administrator and upon
the request of Optionee, the minimum statutory withholding tax
requirements may be satisfied by the withholding of Shares
otherwise issuable to Optionee upon the exercise of this
Option.
4. Termination of Option
4.1. The Option shall terminate and expire upon
the earliest to occur of: (i) the Option Expiration Date set forth
in the Option Certificate; (ii) the Termination Date; and (iii)
immediately prior to a Corporate Transaction unless the
Administrator has determined that the Option shall
survive. Following the Service Termination Date, and
prior to the Termination Date, the Option may be exerci