EXHIBIT 10.2
FORM OF
SUN SOURCE, INC.
STOCK OPTION AGREEMENT
FOR GOOD AND VALUABLE CONSIDERATION, Sun Source, Inc., a Nevada
corporation, hereby irrevocably grants to the Key Person named below a stock
option (the "Option") to purchase any part or all of the specified number of
shares of its Common Stock upon the terms and subject to the conditions set
forth in the Sun Source, Inc. 1998 Employee Stock Option Plan at the
specified purchase price per share without commission or other charge.
Social Security Number: ________________________
Number of Shares covered by Option __________ (___________)
(the "Option Shares"):
Purchase Price Per Option Share: __________ ($__________)
__________ ($__________)
[ ] Incentive Option [ ] Non-qualified Option
Minimum Number of Option Shares Per Partial
Exercise (unless Optionee exercises all of the
Option then exercisable): One hundred (100)
The period for exercising this option shall commence on __________________
and end on ___________________. (Commence not earlier than one (1) week from
the date of grant and shall end no more than ten years from the date of
grant, provided however, an Incentive Option granted to an eligible employee
owning more than 10% of the Common Stock, shall end no more than five years
after the date of the grant. Outstanding options shall become immediately
exercisable in full in the event that the Company is acquired by merger,
purchase of all or substantially all of the Company's assets, or purchase of
a majority of the outstanding stock by a single party or group acting in
concert.)
Date of this Agreement: __________________
SUN SOURCE, INC.
By:
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Key Person's Signature
Its
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Residence Address:
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SCHEDULE OF GRANTEES
1. Xxxxx X. Xxxxxx
Number of options granted: 25,000
Purchase price per share: $1.00
Type of option: Non-qualified
Vesting date: Quarterly beginning October 15, 1999
Expiration date: October 15, 2002
2. Xxx Xxxxxxxx
Number of options granted: 40,000
Purchase price per share: $1.00
Type of option: Non-qualified
Vesting date: Quarterly beginning October 1, 1999
Expiration date: October 1, 2002
3. Xxxxx Genschorek
Number of options granted: 100,000
Purchase price per share: 50,000 at $1.00
50,000 at $2.00
Type of option: Non-qualified
Vesting date: October 1, 1999 for 50,000
October 1, 2000 for 50,000
Expiration date: October 1, 2002
4. Xxxxxxx X. Xxxxx
Number of options granted: 100,000
Purchase price per share: $1.00
Type of option: Non-qualified
Vesting date: None
Expiration date: January 3, 2003
5. Xxx Xxxxxxx
Number of options granted: 100,000
Purchase price per share: $1.00
Type of option: Non-qualified
Vesting date: None
Expiration date: January 3, 2003
6. Xxxxxxxx Xxxxxxxx
Number of options granted: 100,000
Purchase price per share: $1.00
Type of option: Non-qualified
Vesting date: None
Expiration date: January 3, 2003
7. Xxxx XxXxx
Number of options granted: 100,000
Purchase price per share: $1.00
Type of option: Non-qualified
Vesting date: None
Expiration date: January 3, 2003
8. Xxxxx X. Xxxxxx
Number of options granted: 50,000
Purchase price per share: $1.00
Type of option: Non-qualified
Vesting date: None
Expiration date: January 3, 2003
9. Xxxxxx Xxxxxxxx
Number of options granted: 50,000
Purchase price per share: $1.00
Type of option: Non-qualified
Vesting date: None
Expiration date: January 3, 2003
10. Xxx Xxxxxx
Number of options granted: 11,000
Purchase price per share: $1.00
Type of option: Non-qualified
Vesting date: None
Expiration date: January 3, 2003
11. Xxxxxxx Xxxxxx
Number of options granted: 10,000
Purchase price per share: $1.00
Type of option: Non-qualified
Vesting date: 1/8th each quarter beginning 3/1/00
Expiration date: January 3, 2003
12. Xxxxx Xxxxxxx
Number of options granted: 10,000
Purchase price per share: $1.00
Type of option: Non-qualified
Vesting date: 1/8th each quarter beginning 3/1/00
Expiration date: January 3, 2003
13. Xxxxxxxxx Xxxxxxxxx
Number of options granted: 10,000
Purchase price per share: $1.00
Type of option: Non-qualified
Vesting date: 1/8th each quarter beginning 3/1/00
Expiration date: January 3, 2003
14. Xxxx Xxxxxxx
Number of options granted: 5,000
Purchase price per share: $1.00
Type of option: Non-qualified
Vesting date: 1/8th each quarter beginning 3/1/00
Expiration date: January 3, 2003
15. Xxxxxx Xxxxxxx
Number of options granted: 5,000
Purchase price per share: $1.00
Type of option: Non-qualified
Vesting date: 1/8th each quarter beginning 3/1/00
Expiration date: January 3, 2003
