0000950116-98-000738 Sample Contracts

AutoNDA by SimpleDocs
DIRECTOR STOCK OPTION AGREEMENT
Director Stock Option Agreement • March 31st, 1998 • Premier Research Worldwide LTD • Services-testing laboratories

Dated February 27, 1997 and delivered by Premier Research Worldwide, Ltd., a Delaware corporation (the "Company"), to Connie Woodburn (the "Optionee"), a member of the Board of Directors of the Company. 1. Grant. The Company hereby grants to the Optionee, pursuant to the Company's 1996 Stock Option Plan (the "Plan"), an option (the "Option") to purchase an aggregate of 4,402 shares of the common stock, $.01 par value (the "Common Stock"), of the Company, subject to the terms and provisions set forth herein and in the Plan. The option exercise price equals $22.125, subject to adjustment as provided in the Plan. 2. Expiration of Option. The Option shall expire on February 27, 2002, unless earlier terminated as follows: (a) Termination of Directorship. If Optionee shall cease to be a member of the Board of Directors of the Company for any reason, the Option shall terminate three months following such event. (b) Sale. The Option shall terminate one month following a Sale of the Company. Fo

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!