|
EXHIBIT 10.15
GENERAL EMPLOYMENT ENTERPRISES, INC.
Director Stock Option Agreement
Under The Amended and Restated
General Employment Enterprises, Inc. 1997 Stock Option Plan
A Stock Option ("Option") is hereby granted by General
Employment
Enterprises, Inc., an Illinois corporation ("Company"), to the
director of the
Company named below ("Optionee"), for and with respect to common
stock of the
Company, no par value ("Common Stock"), in accordance with the
provisions for
grants to non-employee directors, under the Amended and Restated
General
Employment Enterprises, Inc. 1997 Stock Option Plan, as approved
by the
majority of shareholders on February 26, 2007, subject to the
following terms
and conditions:
1. Grant. Subject to the provisions set forth herein and the
terms
and conditions of the Amended and Restated General Employment
Enterprises,
Inc. 1997 Stock Option Plan ("Plan"), the terms of which are
hereby
incorporated by reference, and in consideration of the
agreements of Optionee
herein provided, the Company hereby grants to Optionee an option
to purchase
from the Company the number of shares of Common Stock, at the
purchase price
per share, and on the schedule, set forth below. At the time of
exercise of
the Option, payment of the entire purchase price shall be made
pursuant to
terms of the Plan.
Name of Optionee:
Type of Option:
Number of Shares
Subject to Option:
Option Price Per Share:
Date of Grant:
Exercise Schedule:
Number of Shares Commencement Expiration
Subject to Option Date Date
1
The grant of the Option is conditioned upon the acceptance by
Optionee
of the terms hereof as evidenced by his execution of this
Agreement in the
space provided therefor at the end hereof and the return of an
executed copy
to the Secretary of the Company no later than
_______________.
2. Prior Termination. Except as provided in Section 2(b) below,
the
Option shall not be exercisable prior to the Commencement Date
set forth in
Section 1 above. Notwithstanding the Expiration Date set forth
in Section 1
above:
(a) if Optionee's directorship with the Company (i) is
terminated by
the Company and/or its shareholders for any reason; or (ii) is
voluntarily
terminated by the Optionee for any reason other than; (I)
termination on or
after attaining age 55, (II) death or (III) disability, the
Option shall
expire on the ninetieth (90) day after such termination of
directorship.
(b) if Optionee's directorship with the Company terminates on
or
after attaining age 55; or by reason of disability or death, the
Option, if
not already exercisable on the date of such termination of
directorship,
shall become exercisable and shall expire on the earlier of the
first
anniversary of the date of such termination of directorship or
the
date the Option expires in accordance with Section 1 above.
During such
period the Option may be exercised by Optionee with respect to
the same
number of shares of Common Stock, in the same manner, and to the
same extent,
as if Optionee had continued directorship during such period;
provided that
if such termination occurs by reason of death, the Option shall
be
exercisable, in whole or in part, by a legatee or legate
| 
