EXHIBIT 10.20
STOCK OPTION GRANT
THIS GRANT is made as of the ______ day of __________, by ARRIS GROUP,
INC., a Delaware corporation (the "Corporation) to [First Name] [Last Name].
This stock option grant is made pursuant to the ________Stock Incentive Plan.
1. INCORPORATION OF TERMS
This Grant shall be governed by the attached ARRIS Group, Inc. Stock
Option Terms (the "Terms"), all of the provisions of which are hereby
incorporated herein.
2. GRANT OF OPTIONS
On the terms and conditions stated herein and in the Terms, the
Corporation hereby grants to Optionee the option to purchase Shares as defined
in the Terms for an exercise price of $_____ per Share.
3. RIGHT TO EXERCISE
Subject to the conditions and the exceptions set forth herein and in
the Terms, or as otherwise expressly provided in any written employment
agreement between Optionee and the Corporation, this Option shall become
exercisable for one-______ ([fraction]) of the Shares on [month][day], [year],
another one-______ ([fraction]) on [month][day], [year], and the remaining
Shares on [month][day], [year]. In addition, this Option shall be fully
exercisable upon the death of Optionee or upon Optionee being determined to be
fully and permanently disabled within the meaning of the Corporation's
disability insurance policy then in effect.
4. TERM OF OPTION
This Option shall in any event expire in its entirety on [Month][Day],
[Year]. This Option shall further expire as set forth in the Terms.
5. EXERCISE CONSTITUTES AGREEMENT TO REFRAIN FROM COMPETITION
By exercising any portion of this Option, Optionee agrees that:
(a) for a period of four months from the date of the termination
of Optionee's employment with the Corporation for any reason whatsoever,
Optionee will not, directly or indirectly, compete with the Corporation by
providing to any Corporation that is in a "Competing Business" services
substantially similar to the services provided by Optionee at the time of
termination. Competing Business shall be defined as any business that engages,
in whole or in part, in the equipment and supply for broadband communications
systems in the United States.
(b) for a period of two years after the termination or cessation
of Optionee's employment with the Corporation for any reason whatsoever,
Optionee shall not, on his own behalf or on behalf of any other person,
partnership, association, corporation or other entity, solicit or in any manner
attempt to influence or induce any employee of the Corporation or its
subsidiaries or affiliates (known by the Optionee to be such) to leave the
employment of the Corporation or its subsidiaries or affiliates, nor shall
Optionee use or disclose to any person, partnership, association, corporation or
other entity any information obtained while an employee of the Corporation
concerning the names and addresses of the Corporation's employees.
In the event the Optionee violates any of the provisions of paragraph
(a) or (b) hereof, the Corporation shall be entitled to receive from Optionee
the profits, if any, received by Optionee upon exercise of any Options to the
extent such Options were exercised subsequent to six months prior to the
termination of Optionee's employment.
IN WITNESS WHEREOF, the Corporation has caused this Grant to
be executed on its behalf by its officer duly authorized to act on behalf of the
Corporation.
ARRIS GROUP, INC.,
A Delaware Corporation
By:
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Its:
"Participant"
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Signature
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Name
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Date
