Exhibit 10.30
MxEnergy Inc.
INCENTIVE STOCK OPTION
AGREEMENT
AGREEMENT, made as of
[ ],
and between MxEnergy Inc., a Delaware corporation (“
Company ”), and
[ ]
(“ Optionee ”).
The Company desires to grant to the
Optionee and the Optionee desires to accept from the Company an
option to purchase shares of the common stock of the Company, $0.01
par value (“Common Stock”), upon the terms and
conditions set forth in this Agreement. These options are subject
to the terms of the MxEnergy Inc. 2003 Stock Option Plan (“
Plan ”) although these options are not a part of such
Plan but rather are included within the 2001 Stock Option Plan or
other contractual agreements of the Company.
NOW, THEREFORE, the Company and the
Optionee agree as follows;
1.
Grant of Option; Option Price . The Company hereby grants to
the Optionee an option to purchase
[ ] shares of
Common Stock at a purchase price per share of
[ ]
(“ Option ”). The Option is intended to be
treated as an incentive stock option within the meaning of Section
422 of the Internal Revenue Code of 1986, as amended (“
Code ”), however, notwithstanding such intention,
treatment as such will depend upon satisfaction of certain
conditions set forth in the Code and may not be available in all
instances. It is the responsibility of the Optionee to seek
independent tax advice with regard to the tax treatment of the
Option, the exercise thereof, the disposition of any Common Stock
acquired upon exercise of the Option and any other related
matters.
2.
Entitlement to Exercise Option; Term of Option . The Option
shall become exercisable only in accordance with the schedule below
based upon the number of full years of the Optionee’s
continuous employment with the Company or an Affiliate as defined
in the Plan) following the date of grant. Unless sooner terminated
pursuant to the terms of this Agreement, the Option will expire if
and to the extent that it is not exercised on or before January 31,
2014.
|
Full Years of Continuous
Employment/Service
Following Grant Date
|
|
Incremental
Percentage of Option
Exercisable
|
|
Cumulative
Percentage of Option
Exercisable
|
|
|
Less than 1
|
|
0
|
%
|
0
|
%
|
|
1
|
|
33.333
|
%
|
33.333
|
%
|
|
2
|
|
33.333
|
%
|
66.67
|
%
|
|
3 or more
|
|
33.333
|
%
|
100
|
%
|
3.
Exercise of Option . Once the Optionee has satisfied the
requirements of Section 2 of this Agreement, the Option may be
exercised in whole at any time or in part from time to time during
the term of the Option, except that no partial exercise may be for
less than 100 shares. To exercise the Option, the Optionee shall
deliver to the Chief Executive Officer of the Company: (a) a
written notice specifying the number of shares of Common Stock to
be purchased; (b) payment in full of the exercise price,
together with the amount, if any, deemed necessary by the Company
to enable it to satisfy any income tax withholding obligations with
respect to the