EXHIBIT 10.10
FORM OF EMPLOYEE AND EXECUTIVE OFFICER STOCK OPTION AGREEMENT
HEALTHSTREAM, INC.
2000 STOCK INCENTIVE PLAN
OPTION GRANTED THIS ____ DAY OF ______, 200__ ("GRANT DATE") BY HEALTHSTREAM,
INC. (THE "COMPANY") TO Optionee (THE "EMPLOYEE").
1. Stock Option. The Company hereby grants to the Employee an option
(the "Option") to purchase up to _____ shares of the common stock of the
Company, no par value, to be issued upon the exercise of the Option, in the
manner hereafter set forth, fully paid and nonassessable. This Option is being
granted under the provisions of the Company's 2000 Stock Incentive Plan (the
"Plan"), which are incorporated herein by reference. The Plan is administered by
the Compensation Committee of the Board of Directors of the Company.
2. Time of Exercise. This Option shall be exercisable and have a
term as follows:
(a) This Option shall expire on the eighth anniversary of the
Grant Date.
(b) One fourth (1/4) of the shares granted under this Option
shall vest and become exercisable on the first anniversary of the Grant
Date.
(c) One half (1/2) of the shares granted under this Option
shall vest and become exercisable on the second anniversary of the Grant
Date.
(d) Three fourths (3/4) of the shares granted under this
Option shall vest and become exercisable on the third anniversary of the
Grant Date.
(e) The remaining one fourth (1/4) of the shares granted under
this Option shall vest and become exercisable on the fourth anniversary of
the Grant Date.
(f) This Option shall be exercisable only in the lesser of
round lots of One Hundred (100) shares or the total number of shares
remaining under this Grant.
3. Purchase Price. The purchase price per share shall be _______,
being not less than the fair market value of the common stock as of the Grant
Date.
4. Rights as a Shareholder. The Employee shall have no rights as a
shareholder with respect to any shares covered by this Option until the Employee
has given written notice of exercise, has paid in full for such shares and taken
such other actions as may be required by the Committee in accordance with the
provisions of the Plan. No adjustment shall be made for dividends for which the
record date is prior to the date of issuance of such stock certificate.
HEALTHSTREAM, INC.
_______________________________
_______________________________
The undersigned:
(a) Acknowledges receipt of the foregoing Option and the attachments
referenced therein and understands that all rights and liabilities with respect
to this Option and the Plan; and
(b) Acknowledges that as of the date of grant of this Option, it
sets forth the entire understanding between the undersigned Employee and the
Company and its Affiliates regarding the acquisition of stock in the Company
pursuant to this grant and supersedes all prior oral and written agreements on
that subject.
_______________________________
OPTIONEE
