Exhibit 10.15(b)
XXXXXXXXXXXXX.XXX, INC.
2000 EQUITY INCENTIVE PLAN
STOCK OPTION AGREEMENT
OPTION NO: _____
THIS AGREEMENT dated as of _________________ ___, 2000, between
XxxxxXxxxxxxx.xxx, Inc., a corporation organized under the laws of the State of
Delaware (the "Company"), and the individual identified below, residing at the
address there set out (the "Optionee").
1. Grant of Option. Pursuant and subject to the Company's 2000 Equity
Incentive Plan as attached hereto (the "Plan"), the Company grants to the
Optionee an option (the "Option") to purchase from the Company all or any part
of a total of ________________ shares (the "Optioned Shares") of the common
stock, par value $.001 per share, in the Company (the "Stock"), at a price, of
$ ______________ per share. This Option is granted(1) as of _______________ ___,
20__ (the "Grant Date").
2. Character of Option. This Option ____________ (2) to be treated as an
"incentive stock option" within the meaning of Section 422 of the Internal
Revenue Code of 1986, as amended.
3. Duration of Option. This Option shall expire at 5:00 p.m. on the
earlier of
(a) the seventh(3) anniversary of the Grant Date, and
(b) the applicable date below, determined based on the circumstances
in which the Optionee's employment or other association with the Company and its
Affiliates ends (the Optionee's "Termination of Service"):
(i) the date of the Optionee's Termination of Service, if by
the Company or an Affiliate for cause;
(ii) the first anniversary of the Optionee's Termination of
Service, if on account of death or, with the consent of the Company,
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(1) Replacement options will include the following text: "in replacement
of an option (the "Replaced Option") previously granted by XxxxxXxxxxxxx.xxx,
LLC, the Company's predecessor, under the XxxxxXxxxxxxx.xxx, LLC 1998 Equity
Option Plan (the "Prior Plan"),". The term "Grant Date" is used to establish the
initial exercise dates, and accordingly for replacement options the date entered
should be the Grant Date of the replaced option.
(2) Insert "is" or "is not". All replacement options will be "is not".
(3) Replacement options will expire on the fifth anniversary, rather than
seventh anniversary, to avoid any extension of the options they are intended to
replace. Such an extension may have adverse accounting effects.
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permanent and total disability (within the meaning of Section 22(e)(3) of
the Code); and
(iii) the 90th day after the Optionee's Termination of
Service, in any other circumstances.
4. Exercise of Option. Until its expiration and subject to the remainder
of this Section, this Option may be exercised, in the manner specified in
Section 7.1(f) of the Plan, in those installments of Optioned Shares identified
in the table below, in full or in part, from and after the initial exercise date
set opposite each such installment:
Number of
Shares in Installment Initial Exercise Date
--------------------- ---------------------
One-quarter of the First anniversary of Grant Date
Optioned Shares
1/36th of the remaining Cumulatively, on the first day of each
three-quarters of the month to begin after the first anniversary
Optioned Shares of the Grant Date
In the event of the Optionee's Termination of Service by the Company or an
Affiliate other than for cause within twelve (12) months after a change in
control, on such Termination and for the period thereafter the Option remains
exercisable, the Option shall be exercisable to the same extent as it would have
been exercisable had the Optionee remained employed by the Company and its
Affiliates until the first anniversary of the Optionee's Termination of Service
(that is, one additional year's vesting shall be allowed). For this purpose
"change of control" means any transaction, or the initial transaction in a
series of related transactions, occuring after the date hereof if immediately
after such transaction or series more than 50% of the Company's equity
securities have ceased to be owned, directly or indirectly, by persons which
beneficially owned the Company's equity securities, directly or indirectly,
immediately prior to such transaction or series.
Notwithstanding anything contained herein to the contrary, if this
Option does not otherwise terminate immediately upon the Optionee's Termination
of Service, after such Termination of Service this Option shall, until its
expiration, be exercisable only to the extent exercisable immediately prior to
such Termination. Futhermore, this Option shall in no event be exercisable for a
fractional share, with an fractional share being carried forward to future
installments until a whole share results. Finally, this Option may not be
exercised to any extent unless and until the Optionee has become a party to, and
then only while the Optionee remains bound by the provisions of, the
Stockholders' Agreement.
5. Transfer of Options. This Option may not be transferred except by will
or the laws of descent and distribution, and, during the lifetime of the
Optionee, may be exercised only by the Optionee.
-3-
6. Incorporation of Plan Terms. This Option is granted subject to all of
the applicable terms and provisions of the Plan, including but not limited to
the limitations on the Company's obligation to deliver Optioned Shares upon
exercise set forth in Section 9 (Settlement of Awards).
7.(4) Relationship to Replaced Option; Optionee's Acknowledgement. The
Prior Plan provided that the Optionee would be entitled to exercise the Replaced
Option in full if the conversion of the Company from a limited liability company
into a corporation constituted a reorganization and the Company did not offer
the Optionee an option which substantially preserves the rights and benefits of
the Replaced Option. The Optionee acknowledges and agrees this Option does
substantially preserve the rights and benefits of the Replaced Option. The
Optionee accepts this Option in complete substitution and replacement for the
Replaced Option and all of his or her rights under the Replaced Option and the
Prior Plan, and further agrees upon request of the Company to surrender all
copies of the Replaced Option.
8. Miscellaneous. This Agreement shall be construed and enforced in
accordance with the laws of the Commonwealth of Massachusetts, without regard to
the conflict of laws principles thereof and shall be binding upon and inure to
the benefit of any successor or assign of the Company and any executor,
administrator, trustee, guardian, or other legal representative of the Optionee.
This Agreement may be executed in two or more counterparts, each of which shall
be an original, but all of which together shall constitute one and the same
instrument. Capitalized terms used but not defined herein shall have the meaning
assigned under the Plan.
REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK
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(4) Included only in replacement options.
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IN WITNESS WHEREOF, the parties have executed this Agreement as a sealed
instrument as of the date first above written.
XXXXXXXXXXXXX.XXX, INC.
By: ___________________________ ___________________________________________
Title:___________________________ Signature of Optionee
___________________________________________
Name of Optionee
Optionee's Address:
___________________________________________
___________________________________________
___________________________________________
Telecopier:________________________________
HEADCOUNTS AS OF 2/29/00:
-------------------------
DEPARTMENT Employee
--------------------------------- ------------------------------
ADMIN Xxxx Xxxxx 1
ADMIN Xxxxxx Xxxx 2
ADMIN Xxxxx XxXxxxx 3
ADMIN Xxxxxxxx Xxxxxx 4
ADMIN Xxx Xxxxxx 5
ADMIN Xxxxx Xxxxxxxx 6
OPERATIONS Xxxxx Xxxxx 7
OPERATIONS Xxxxxx Xxxxxxx 8
OPERATIONS Xxxxxxx Xxxx 9
OPERATIONS Xxxxx Xxxx 10
OPERATIONS Xxxxxxxxx Xxxxxxxxxxxx 11
OPERATIONS Xxxxxx Xxxxxx 12
OPERATIONS Xxxxxx Xxxx 13
MARKETING Xxxxx Xxxxxx 1
MARKETING Xxxxx Xxxxxxx 2
MARKETING Xxxx Xxxxxxx 3
MARKETING Xxxxxx Menasha 4
MARKETING Xxxxx Xxxxx-Xxxxxx 5
MARKETING Xxxxx Xxxxx 6
MARKETING Xxx Xxxxxxxxxx 7
MARKETING Xxxxxx Finder 8
MARKETING Xxxxx Xxxx 9
SALES Xxx Xxxxxxx 10
SALES Xxxxx Xxxxxxxx 11
SALES Cash Xxxxxx 12
SALES Xxxxx Bellefuile 13
SALES Xxxxx Xxxxxxx 14
SALES Xxxx Xxxxxx 15
SALES Xxx Xxxxxxxxx 16
SALES Xxx Xxxxxxxxxx 17
SALES Xxx Xxxxxxx 18
SALES Xxxxx Xxxxxxx 19
SALES Xxxx Xxxxxxx 20
SALES Xxxxxxx Xxxxx 21
SALES Xxxx Xxxxxx 22
SALES Xxxxx Xxxxxxxx 23
SALES Xxxxxxx Xxx 24
SALES Xxx Xxxxx 25
SALES Xxx Xxxxxx 26
SALES Xxxxxx Xxxxx 27
SALES Xxxxx Xxxxxxxx 28
PRODDEV Xxxxxx Xxxxxxx 29
WEBDEV Xxxx Xxxxx 1
WEBDEV Xxxxxx Xxxxxxx 2
WEBDEV Xxxxxxx Xxx 3
WEBDEV Xxxx Xxxx 4
WEBDEV Xxx Xxxxx 5
WEBDEV Xxxx Xxxxxxx 6
WEBDEV Xxxxxx Xxxxxx 7
WEBDEV Xxxxx Xxxxxx 8
WEBDEV Xxxxxxxxx Xxxx 9
WEBDEV Xxxx Xxxxxxx 10
WEBDEV Xxxxxx Xxxxxx 11
WEBDEV Xxxxxx Xxxxxxx 12
WEBDEV Xxx Xxxxxxxxxx 13
WEBDEV Xxxx Xxxx 14
WEBDEV Xxxxx Xxxxx 15
WEBDEV M Xxxxxxx 16
WEBDEV M Xxxxxx 17
WEBDEV Nicos Makrinitos 18
WEBDEV Xxxxxx Xxxxxx 19
WEBDEV Xxxx Xxxxx 20
WEBDEV Xxxxxx Xxxxxx 21
WEBDEV Xxxx Xxxx 22
BUSSINESS DEV Xxxxx Xxxx 1
BUSSINESS DEV Xxxxxxx Xxxx 2
BUSSINESS DEV Xxx Xxxxxxx 3
BUSSINESS DEV Xxxx Xxx 4
BUSSINESS DEV Xxxx Xxxxx 5
NOT EMPLOYEES:
--------------
BUSSINESS DEV Xxxx Xxxxxxxxxx
SALES Antony Thor
SALES Xxxxxx Xxxxxx
STARTED 3/6/00:
---------------
ADMIN Xxxxxx Xx
WEBDEV Xxxxx XxXxxxxxxxx
SCHEDULE OF OPTIONS GRANTED UNDER THE 2000 EQUITY INCENTIVE PLAN
Employee Options Vesting Start
Granted Date
------------------------------------------------------------------
Xxxx Xxxxxxx 225,000 5/1/98
Xxx Xxxxxxx 900,000 5/1/98
Xxxxx Xxxxx 45,000 6/1/98
Xxx Xxxxxx 19,500 7/20/98
Xxx Xxxxx 31,500 8/12/98
Xxx Xxxxxxx 36,000 9/1/98
Xxxx Xxxxxxx 126,000 9/1/98
Xxxx Xxxxxx 126,000 10/16/98
Xxxx Xxxxx 36,000 11/15/98
Xxxx Xxxxx 12,000 2/1/99
Xxxxxxx Xxxx 3,750 2/1/99
Xxxxxxxxx Xxxxxxxxxxxx 3,750 2/22/99
Xxxx Xxx 60,000 3/15/99
Xxxxx Xxxx 60,000 3/22/99
Xxxxxx Xxxxxxx 7,500 3/26/99
Xxxxxxxxx Xxxx 18,000 4/12/99
Xxxxxxx Xxxx 36,000 4/19/99
Xxxxx Xxxxx 0 4/27/99
Xxxxxx Xxxxxxx 6,000 4/27/99
Xxxx Xxxxxxx 75,000 5/1/99
Xxxxx Xxxxx 60,000 5/1/99
Xxx Xxxxxxxxxx 66,000 5/1/99
Xxxxx Xxxxx-Xxxxxx 7,500 5/4/99
Xxxxx Xxxxx 3,750 5/4/99
Xxxxx Bellefuile 18,000 5/10/99
Xxxx Xxxxxxx 60,000 5/10/99
Xxxxxxx Xxx 18,000 5/17/99
Xxx Xxxxxxx 18,000 6/1/99
Xxxx Xxxxxxx 12,000 6/1/99
Xxx Xxxxxxxxx 18,000 6/14/99
Xxxx Xxxxxx 18,000 6/14/99
Xxx Xxxxx 12,000 6/16/99
Xxxxxx Xxxxxx 3,000 6/21/99
Xxxxx Xxxx 60,000 7/15/99
Xxxxx Xxxx 60,000 7/15/99
Xxx Xxxxxx 4,500 7/20/99
Xxxxx Xxxxxx 12,000 7/26/99
Xxxxx Xxxxxxx 36,000 8/2/99
Xxxxxx Finder 7,500 8/5/99
Antony Thor 30,000 8/10/99
Xxxxxxxx Xxxxxx 1,500 9/7/99
Xxxx Xxxxxxxxxx 60,000 9/10/99
Xxxx Xxxx 12,000 9/15/99
Xxx Xxxxxxxxxx 66,000 10/1/99
Xxx Xxxxxx 10,000 10/4/99
Xxxxxx Xxxxxxx 6,000 10/11/99
Cash Xxxxxx 30,000 10/15/99
Xxxxxxx Xxxxx 30,000 10/15/99
Xxxxxx Xxxx 15,000 10/15/99
Xxxxx XxXxxxx 100,000 10/18/99
Xxxxx Xxxxxxx 10,000 10/25/99
Xxxxxx Xxxxxx 10,000 11/1/99
Xxxxxx Xxxxx 10,000 11/1/99
Xxxxx Xxxxxxxx 10,000 11/8/99
Xxxxx Xxxxxxx 52,500 11/8/99
Xxx Xxxxx 10,000 11/8/99
Xxxxx Xxxxxxxx 12,000 11/15/99
--------------------
Xxxxx Xxxxxxxx 10,000 11/29/99
Xxxxxx Xxxxxxx 1,500 12/15/99
Cash Xxxxxx 10,000 12/15/99
Xxxxxxxxx Xxxxxxxxxxxx 1,250 12/15/99
Xxxxxxx Xxxx 3,000 12/15/99
Xxxxxxx Xxxxx 16,000 12/15/99
M Xxxxxxx 7,000 12/20/99
M Xxxxxx 25,000 12/20/99
--------------------
Xxxxx Xxxxxxx 30,000 1/31/00
Xxxx Xxxxx 2,000 11/15/99
Nicos Makrinitos 12,000 1/17/00
Xxxx Xxxx 7,000 2/7/00
Xxxxxx Xxxxxx 8,000 1/10/00
Xxxxxxx Xxx 8,000 1/10/00
Xxx Xxxxxxx 200,000 1/24/00
Xxxxxx Menasha 3,000 1/5/00
Xxxxxx Xxxxxxx 6,000 1/6/00
Xxxxx Xxxxxxx 6,000 2/7/00
Xxxxx Xxxxx 3,000 2/8/00
Xxxxx Xxxxxxxx 25,000 1/17/00
Xxxxxx Eriickson 1/28/00
Xxxxxx Xxxxxx 6,000 2/1/00
Xxxxx Xxxxxx 10,000 2/14/00
Xxxx Xxxx 7,000 2/22/00
Xxxx Xxxxx 10,000 2/22/00
Xxxxxx Xxxxxx 35,000 2/28/00
Xxx Xxxxxxxxxx 10,000 2/28/00
Xxxxxx Xxxxxx 7,000 2/28/00
Xxxxxx Xxxx 2,000 3/1/00
Xxxxx Xxxxxxxx 10,000 3/6/00
Xxxxx XxXxxxxxxxx 25,000 3/6/00
Xxxxxx Xx 3,000 3/6/00
Xxxxxxx Xxxxx 140,000 3/6/00
Xxxxxxx Xxxxxxx 50,000 3/6/00
Xxxxx Xxxxxx 50,000 3/6/00
Xxxxx Xxxxxx 50,000 3/6/00
PAPER XXXXXXXX.XXX
APIC - DEFERRED COMP: CHEAP STOCK & OPTIONS
DECEMBER 31, 1999
A B C (C-B) * A
Grant Strike Deferred
Date Employee Options Price FMV Comp.
------------------------------------------------------------------------------------------------------------
06/01/99 Xxx Xxxxxxx 18,000 $0.20 $0.89 $12,360
06/01/99 Xxxx Xxxxxxx 12,000 $0.20 $0.89 $8,240
06/14/99 Xxx Xxxxxxxxx 18,000 $0.20 $0.89 $12,360
06/14/99 Xxxx Xxxxxx 18,000 $0.20 $0.89 $12,360
06/16/99 Xxx Xxxxx 12,000 $0.20 $0.89 $8,240
07/15/99 Xxxxx Xxxx 60,000 $0.20 $0.89 $41,200
07/15/99 Xxxxx Xxxx 60,000 $0.20 $0.89 $41,200
12/20/99 Xxxx Xxxxx 1,767,020 $2.38 $3.34 $ 1,696,339
--------------------------------------------------------------
Totals 1,965,020 $ 1,832,299
===============
Less: 1999 Amortization 15,793
-------------------
$ 1,816,506
===================
Amortization
1999 2000 2001 2002 2003 Balance
--------------------------------------------------------------------------------------- ------------
2,060 4,120 4,120 2,060 -
1,373 2,747 2,747 1,373 -
2,060 4,120 4,120 2,060 -
2,060 4,120 4,120 2,060 -
1,373 2,747 2,747 1,373 -
3,433 13,733 13,733 10,300 -
3,433 13,733 13,733 10,300 -
212,042 530,106 530,106 424,085 -
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15,793 257,362 575,426 559,633 424,085
