EXHIBIT 10.4
Grant No. 49
BRIGHTCUBE, INC.
2001 EQUITY INCENTIVE PLAN
STOCK OPTION AGREEMENT
BrightCube, Inc., a Nevada corporation (the "Company"), hereby grants to
the Optionholder named below an option to purchase the number of shares of the
Company's common stock set forth below. The terms and conditions of the Option
are set forth in this Stock Option Agreement (the "Agreement") and in the
Company's 2001 Equity Incentive Plan (the "Plan") and the Notice of Exercise,
all of which are enclosed herewith and incorporated herein in their entirety.
Capitalized terms not defined herein shall have the meanings assigned to them in
the Plan. Please be aware that as of July 11, 2001, the 2001 Equity Incentive
Plan has not been approved by BrightCube's shareholders. Until such approval is
granted you will not be able to exercise your options under this plan.
Optionholder: Xxxxxxx X. Xxxxxxxx
Date of Grant: March 13, 2002
Number of Shares Subject to Option: 500,000
Exercise Price Per Share: $0.11
Expiration Date: March 12, 2012
Type of Grant: [ ] Incentive Stock Option [X] Nonstatutory Stock
Option
Exercise Schedule: [X] Same as Vesting Schedule [ ] Early Exercise
Permitted
Vesting Schedule: 4.00% of the total number of shares subject to this Option
vested on March 31, 2002 and, thereafter, 25.00% of the
shares subject to this Option shall vest on each of the
Company's fiscal quarters until fully vested.
Payment: By one or a combination of the following items (as
described in Section 3 of this Agreement):
By cash or check
Pursuant to a Regulation T Program
By delivery of already-owned shares
Acknowledgements: By signing this cover sheet, you acknowledge receipt of,
and understand and agree to, all of the terms and conditions described in this
Agreement and in the Plan and Notice of Exercise, copies of which also are
enclosed. Further, you acknowledge that as of the Date of Grant, this Agreement
and the Plan and Notice of Exercise set forth the entire understanding between
you and the Company regarding the acquisition of stock in the Company and
supersede all prior oral and written agreements (including, without limitation,
any employment agreement with the Company) on that subject.
BRIGHTCUBE, INC.: OPTIONHOLDER:
By: /s/ Xxxx Xxxxxx /s/ Xxxxxxx X. Xxxxxxxx
-------------------------------- -------------------------------------
Signature Signature
Name: Xxxx Xxxxxx Date: April 24, 2002
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Title: Chief Financial Officer
Date: April 24, 2002
ENCLOSURES: Copy of the 2001 Equity Incentive Plan and Notice of Exercise
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