PRESTIGE BRANDS HOLDINGS, INC. EMPLOYEE NONQUALIFIED STOCK OPTION AGREEMENT
THIS
OPTION AGREEMENT, made and entered into as of the ___ day of ______, ____ (the
“Effective Date”), between PRESTIGE BRANDS HOLDINGS, INC., a Delaware
corporation (the “Company”), and ______________________, an employee of the
Company or of a subsidiary of the Company (the “Employee”).
WHEREAS,
the Company desires, by affording the Employee an opportunity to purchase shares
of its capital stock as hereinafter provided, to carry out the purpose of the
2005 Long-Term Equity Incentive Plan (the “Plan”).
NOW,
THEREFORE, for and in consideration of the premises and other good and valuable
consideration, including the services rendered and to be rendered to the Company
by the Employee, the Company does hereby grant an option to the Employee, and
the Employee accepts such option, on the following terms and
conditions:
1. Grant
of
Option and Option Price.
The
Company hereby grants to the Employee the right and option (the “Option”) to
purchase all or any part of the number of shares of the common stock of the
Company (par value of $.01 per share) herein set forth, at the price per share
herein set forth, subject to all the restrictions, limitations and other terms
and provisions of the Plan and of this Agreement:
Number
of
shares covered by this Option:
Price
per
share for the above shares:
$____________
2. Term
of Option.
This
term of the Option is ten years from the Effective Date and the Option expires
on ___________, subject to earlier termination as provided in the
Plan.
3. Exercisability.
Except
as may be provided in the Plan, this Option, subject to all the restrictions,
limitations and other terms and provisions of the Plan and of this Agreement,
shall become exercisable in accordance with the following schedule:
|
Date
Exercisable
|
Number
of Shares
|
4. Nontransferable.
Unless
otherwise approved by the Compensation Committee or expressly permitted in
the
Plan, this Option is not transferable by the Employee and is exercisable only
by
the Employee during his or her lifetime.
5. Agreement
Subject to Plan.
This
Agreement does not undertake to express all conditions, terms and provisions
of
the Plan; and the grant, and any exercise, of this Option is subject in all
respects to all of the restrictions, limitations and other terms and provisions
of the Plan, which, by
this
reference, are incorporated herein to the same extent as if copied
verbatim.
6. Acceptance
of Option.
The
Employee hereby accepts this Option subject to all the restrictions, limitations
and other terms and provisions of the Plan and of this Agreement.
IN
WITNESS WHEREOF,
the
parties have executed this Option Agreement as of the day and year first above
written.
EMPLOYEE: PRESTIGE
BRANDS HOLDINGS, INC.
By:
Name:
Name:
Title:
2
