Contract
Exhibit
(a)(1)(H)
AVISTAR
COMMUNICATIONS CORPORATION
2009
EQUITY INCENTIVE PLAN
Unless
otherwise defined herein, the terms defined in the 2009 Equity Incentive Plan
(the “Plan”)
will have the same defined meanings in this Stock Option Award Agreement (the
“Award
Agreement”).
I.
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NOTICE OF STOCK OPTION
GRANT
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Name:
Address:
You have
been granted an option to purchase Common Stock of the Company, subject to the
terms and conditions of the Plan and this Award Agreement, as
follows:
Grant
Number:
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Date
of Grant:
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Vesting
Commencement Date:
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Exercise
Price per Share:
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Total
Number of Shares Granted:
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Total
Exercise Price:
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Type
of Option:
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Incentive
Stock Option
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Nonstatutory
Stock Option
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Term/Expiration
Date:
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Vesting
Schedule:
Subject
to accelerated vesting as set forth below or in the Plan, this Option may be
exercised, in whole or in part, in accordance with the following
schedule:
[INSERT
VESTING SCHEDULE]
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Accelerated
Vesting:
Notwithstanding
the vesting schedule above, one hundred percent (100%) of the Shares subject to
the Option will vest upon a Change in Control, as defined in the Plan, subject
to Participant continuing to be a Service Provider through such
date.
Termination
Period:
This
Option shall be exercisable, to the extent vested, for three (3) months after
Participant ceases to be a Service Provider, unless such termination is due to
Participant’s death or Disability, in which case this Option shall be
exercisable, to the extent vested, for twelve (12) months after Participant
ceases to be Service Provider. Notwithstanding the foregoing, in no
event may this Option be exercised after the Term/Expiration Date as provided
above and may be subject to earlier termination as provided in
Section 13(c) of the Plan.
II.
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AGREEMENT
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X. Xxxxx of
Option.
The
Administrator hereby grants to the individual named in the Notice of Stock
Option Grant attached as Part I of this Award Agreement (the “Participant”) an
option (the “Option”) to purchase
the number of Shares, as set forth in the Notice of Stock Option Grant, at the
exercise price per share set forth in the Notice of Stock Option Grant (the
“Exercise
Price”), subject to the terms and conditions of the Plan, which is
incorporated herein by reference. Subject to Section 18(c) of
the Plan, in the event of a conflict between the terms and conditions of the
Plan and the terms and conditions of this Award Agreement, the terms and
conditions of the Plan will prevail.
If
designated in the Notice of Stock Option Grant as an Incentive Stock Option
(“ISO”), this
Option is intended to qualify as an Incentive Stock Option under
Section 422 of the Code. However, if this Option is intended to
be an Incentive Stock Option, to the extent that it exceeds the $100,000 rule of
Code Section 422(d) it will be treated as a Nonstatutory Stock Option
(“NSO”).
B. Administrator
Discretion.
The
Administrator, in its discretion, may accelerate the vesting of the balance, or
some lesser portion of the balance, of the unvested Option at any time, subject
to the terms of the Plan. If so accelerated, such Option shall be
considered as having vested as of the date specified by the
Administrator.
C. Exercise of
Option.
1. Right to
Exercise. This Option is exercisable during its term in
accordance with the Vesting Schedule set out in the Notice of Stock Option Grant
and the applicable provisions of the Plan and this Award Agreement.
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2. Method of
Exercise. This Option is exercisable by delivery of an
exercise notice, in the form attached as Exhibit A (the “Exercise Notice”) or
in such other form and manner as determined by the Administrator, which will
state the election to exercise the Option, the number of Shares in respect of
which the Option is being exercised (the “Exercised Shares”),
and such other representations and agreements as may be required by the Company
pursuant to the provisions of the Plan. The Exercise Notice will be
properly completed by Participant and delivered to the Company. The
Exercise Notice will be accompanied by payment of the aggregate Exercise Price
as to all Exercised Shares together with any applicable withholding
taxes. This Option will be deemed to be exercised upon receipt by the
Company (or its designated representative) of such fully executed Exercise
Notice accompanied by such aggregate Exercise Price.
No Shares
will be issued pursuant to the exercise of this Option unless such issuance and
exercise comply with Applicable Laws. Assuming such compliance, for
income tax purposes the Exercised Shares will be considered transferred to
Participant on the date the Option is exercised with respect to such Exercised
Shares. This Option may not be exercised for a fraction of a
share.
D. Method of
Payment.
Payment
of the aggregate Exercise Price shall be by any of the following, or a
combination thereof, at the election of Participant:
(a) cash;
(b) check;
(c) surrender
of other shares of Common Stock of the Company, which in the case of Shares
acquired upon exercise of an option, have been owned by Participant for more
than six (6) months on the date of surrender, and have a Fair Market Value on
the date of surrender equal to the aggregate Exercise Price of the Shares as to
which the Option is being exercised; or
(d) delivery
of a properly executed Exercise Notice together with irrevocable instructions to
an agent of the Company to sell the Shares and promptly deliver to the Company
that portion of the sale proceeds required to pay the Exercise Price (and any
applicable withholding taxes).
E. Non-Transferability of
Option.
This
Option may not be transferred in any manner otherwise than by will or by the
laws of descent or distribution and may be exercised during the lifetime of
Participant only by Participant.
F. Term of
Option.
This
Option may be exercised only within the term set out in the Notice of Stock
Option Grant, and may be exercised during such term only in accordance with the
Plan and the terms of this Award Agreement.
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G. Tax
Obligations.
1. Withholding
Taxes. Participant agrees to make appropriate arrangements
with the Company (or the Parent or Subsidiary employing or retaining
Participant) for the satisfaction of all Federal, state, and local income and
employment tax withholding requirements applicable to the Option
exercise. Participant acknowledges and agrees that the Company may
refuse to honor the exercise and refuse to deliver Shares if such withholding
amounts are not delivered at the time of exercise.
2. Notice of Disqualifying
Disposition of ISO Shares. If the Option granted to
Participant herein is an ISO, and if Participant sells or otherwise disposes of
any of the Shares acquired pursuant to the ISO on or before the later of
(a) the date two (2) years after the Grant Date, or (b) the date one
(1) year after the date of exercise, Participant will immediately notify the
Company in writing of such disposition. Participant agrees that
Participant may be subject to income tax withholding by the Company on the
compensation income recognized by Participant.
H. Rights as
Stockholder.
Neither
Participant nor any person claiming under or through Participant shall have any
of the rights or privileges of a stockholder of the Company in respect of any
Shares deliverable hereunder unless and until certificates representing such
Shares (which may be in book entry form) shall have been issued, recorded on the
records of the Company or its transfer agents or registrars, and delivered to
Participant (including through electronic delivery to a brokerage
account). After such issuance, recordation and delivery, Participant
shall have all the rights of a stockholder of the Company with respect to voting
such Shares and receipt of dividends and distributions on such
Shares.
I. Entire Agreement; Governing
Law.
The Plan
is incorporated herein by reference. The Plan and this Award
Agreement constitute the entire agreement of the parties with respect to the
subject matter hereof and supersede in their entirety all prior undertakings and
agreements of the Company and Participant with respect to the subject matter
hereof, and may not be modified adversely to Participant’s interest except by
means of a writing signed by the Company and Participant. This Award
Agreement is governed by the internal substantive laws, but not the choice of
law rules, of California.
J. Address for
Notices.
Any
notice to be given to the Company under the terms of this Award Agreement shall
be addressed to the Company, in care of its Secretary at the Company’s
headquarters, 0000 X. Xxxxx Xxxxxx, 00xx Xxxxx,
Xxx Xxxxx, Xxxxxxxxxx 00000, Attn: Stock Administration, or at such other
address as the Company may hereafter designate in writing.
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K. NO GUARANTEE OF CONTINUED
SERVICE.
PARTICIPANT
ACKNOWLEDGES AND AGREES THAT THE VESTING OF SHARES PURSUANT TO THE VESTING
SCHEDULE HEREOF IS EARNED ONLY BY CONTINUING AS A SERVICE PROVIDER AT THE WILL
OF THE COMPANY (AND NOT THROUGH THE ACT OF BEING HIRED, BEING GRANTED AN OPTION
OR PURCHASING SHARES HEREUNDER). PARTICIPANT FURTHER ACKNOWLEDGES AND
AGREES THAT THIS AWARD AGREEMENT, THE TRANSACTIONS CONTEMPLATED HEREUNDER AND
THE VESTING SCHEDULE SET FORTH HEREIN DO NOT CONSTITUTE AN EXPRESS OR IMPLIED
PROMISE OF CONTINUED ENGAGEMENT AS A SERVICE PROVIDER FOR THE VESTING PERIOD,
FOR ANY PERIOD, OR AT ALL, AND WILL NOT INTERFERE WITH PARTICIPANT’S RIGHT OR
THE COMPANY’S RIGHT TO TERMINATE PARTICIPANT’S RELATIONSHIP AS A SERVICE
PROVIDER AT ANY TIME, WITH OR WITHOUT CAUSE.
X. Xxxxx is Not
Transferable.
This
Option may not be transferred in any manner otherwise than by will or by the
laws of descent or distribution and may be exercised during the lifetime of
Participant only by Participant.
M. Binding
Agreement.
Subject
to the limitation on the transferability of this grant contained herein, this
Award Agreement shall be binding upon and inure to the benefit of the heirs,
legatees, legal representatives, successors and assigns of the parties
hereto.
N. Additional Conditions to
Issuance of Stock.
If at any
time the Company shall determine, in its discretion, that the listing,
registration or qualification of the Shares upon any securities exchange or
under any state or federal law, or the consent or approval of any governmental
regulatory authority is necessary or desirable as a condition to the issuance of
Shares to Participant (or his or her estate), such issuance shall not occur
unless and until such listing, registration, qualification, consent or approval
shall have been effected or obtained free of any conditions not acceptable to
the Company. The Company shall make all reasonable efforts to meet
the requirements of any such state or federal law or securities exchange and to
obtain any such consent or approval of any such governmental
authority.
O. Plan
Governs.
This
Award Agreement is subject to all terms and provisions of the
Plan. In the event of a conflict between one or more provisions of
this Award Agreement and one or more provisions of the Plan, the provisions of
the Plan shall govern. Capitalized terms used and not defined in this
Award Agreement shall have the meaning set forth in the Plan.
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P. Administrator
Authority.
The
Administrator shall have the power to interpret the Plan and this Award
Agreement and to adopt such rules for the administration, interpretation and
application of the Plan as are consistent therewith and to interpret or revoke
any such rules (including, but not limited to, the determination of whether or
not any Shares subject to the Option have vested). All actions taken
and all interpretations and determinations made by the Administrator in good
faith shall be final and binding upon Participant, the Company and all other
interested persons. The Administrator shall not be personally liable
for any action, determination or interpretation made in good faith with respect
to the Plan or this Award Agreement.
Q. Electronic
Delivery.
The
Company may, in its sole discretion, decide to deliver any documents related to
Options awarded under the Plan or future Options that may be awarded under the
Plan by electronic means or request Participant’s consent to participate in the
Plan by electronic means. Participant hereby consents to receive such
documents by electronic delivery and agrees to participate in the Plan through
any on-line or electronic system established and maintained by the Company or
another third party designated by the Company.
R. Captions.
Captions
provided herein are for convenience only and are not to serve as a basis for
interpretation or construction of this Award Agreement.
S. Agreement
Severable.
In the
event that any provision in this Award Agreement shall be held invalid or
unenforceable, such provision shall be severable from, and such invalidity or
unenforceability shall not be construed to have any effect on, the remaining
provisions of this Award Agreement.
T. Modifications to the
Agreement.
This
Award Agreement constitutes the entire understanding of the parties on the
subjects covered. Participant expressly warrants that he or she is
not accepting this Award Agreement in reliance on any promises, representations,
or inducements other than those contained herein. Modifications to
this Award Agreement or the Plan can be made only in an express written contract
executed by a duly authorized officer of the Company. Notwithstanding
anything to the contrary in the Plan or this Award Agreement, the Company
reserves the right to revise this Agreement as it deems necessary or advisable,
in its sole discretion and without the consent of Participant, to avoid
imposition of any additional tax or income recognition under Section 409A
of the Code prior to the actual payment of Shares pursuant to this
award.
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U. Amendment, Suspension or
Termination of the Plan.
By
accepting this Award, Participant expressly warrants that he or she has received
an Option under the Plan, and has received, read and understood a description of
the Plan. Participant understands that the Plan is discretionary in
nature and may be amended, suspended or terminated by the Company at any
time.
V. Governing
Law.
This
Award Agreement shall be construed in accordance with and governed by the laws
of the State of California, other than its conflicts of laws
provisions
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Blank]
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By
Participant’s signature and the signature of the Company’s representative below,
Participant and the Company agree that this Option is granted under and governed
by the terms and conditions of the Plan and this Award
Agreement. Participant has reviewed the Plan and this Award Agreement
in their entirety, has had an opportunity to obtain the advice of counsel prior
to executing this Award Agreement and fully understands all provisions of the
Plan and Award Agreement. Participant hereby agrees to accept as
binding, conclusive and final all decisions or interpretations of the
Administrator upon any questions relating to the Plan and Award
Agreement. Participant further agrees to notify the Company upon any
change in the residence address indicated below.
PARTICIPANT:
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AVISTAR
COMMUNICATIONS CORPORATION:
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Signature
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Name
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Title | |||
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Residence
Address
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EXHIBIT
A
AVISTAR
COMMUNICATIONS CORPORATION
2009
EQUITY INCENTIVE PLAN
EXERCISE
NOTICE
Avistar
Communications Corporation
0000 X.
Xxxxx Xxxxxx, 10th Floor
San
Mateo, CA 94402
Attention: Stock
Administration
1. Exercise of
Option. Effective as of today, _____________, ____,
_____________________, the undersigned (“Purchaser”) hereby
elects to
purchase shares
(the “Shares”)
of the Common Stock of Avistar Communications Corporation (the “Company”) under and
pursuant to the 2009 Equity Incentive Plan (the “Plan”) and the Stock
Option Award Agreement dated _____________, ____, (the “Award
Agreement”). The purchase price for the Shares will be
$__________, as required by the Award Agreement.
2. Delivery of
Payment. Purchaser herewith delivers to the Company the full
purchase price for the Shares and any required withholding taxes to be paid in
connection with the exercise of the Option.
3. Representations of
Purchaser. Purchaser acknowledges that Xxxxxxxxx has received,
read and understood the Plan and the Award Agreement and agrees to abide by and
be bound by their terms and conditions.
4. Rights as
Stockholder. Until the issuance (as evidenced by the
appropriate entry on the books of the Company or of a duly authorized transfer
agent of the Company) of the Shares, no right to vote or receive dividends or
any other rights as a stockholder will exist with respect to the Optioned Stock,
notwithstanding the exercise of the Option. The Shares so acquired
will be issued to Participant as soon as practicable after exercise of the
Option.
5. Tax
Consultation. Purchaser understands that Purchaser may suffer
adverse tax consequences as a result of Purchaser’s purchase or disposition of
the Shares. Purchaser represents that Purchaser has consulted with
any tax consultants Purchaser deems advisable in connection with the purchase or
disposition of the Shares and that Purchaser is not relying on the Company for
any tax advice.
6. Entire Agreement; Governing
Law. The Plan and Award Agreement are incorporated herein by
reference. This Agreement, the Plan and the Award Agreement
constitute the entire agreement of the parties with respect to the subject
matter hereof and supersede in their entirety all prior undertakings and
agreements of the Company and Purchaser with respect to the subject matter
hereof, and may not be modified adversely to the Purchaser’s interest except by
means of a writing signed by the Company and Purchaser. This
agreement is governed by the internal substantive laws, but not the choice of
law rules, of California.
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Submitted
by:
PARTICIPANT:
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Accepted
by:
AVISTAR COMMUNICATIONS
CORPORATION:
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Signature
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Name
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Address
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