Exhibit (a)(1) ================================================================ ================ OFFER TO EXCHANGE CERTAIN OUTSTANDING OPTIONS FOR NEW OPTIONS (THE "OFFER TO EXCHANGE") THIS SUPPLEMENT CONSTITUTES PART OF THE SECTION 10(a) PROSPECTUS...Offer to Exchange Options • November 16th, 2001 • Pinnacle Systems Inc • Photographic equipment & supplies
FORM OF PROMISE TO GRANT STOCK OPTION(S) --------------------------------Promise to Grant Stock Option(s) • November 16th, 2001 • Pinnacle Systems Inc • Photographic equipment & supplies
In exchange for your agreement to cancel certain stock options ("the Old Option(s)") you received from Pinnacle Systems, Inc. ("Pinnacle"), Pinnacle hereby promises to grant you a stock option or options, as applicable, covering [_________] shares of Pinnacle's common stock on or about June 19, 2002 (the "New Option(s)"), which is the same number of shares subject to the Old Options which you tendered for exchange and which were cancelled on December 18, 2001 (the "Cancellation Date"). The exercise price of each New Option will be the closing price of Pinnacle's common stock as listed on the Nasdaq National Market on June 19, 2002, except as otherwise set forth in the Exchange Offer Documents (as defined below).
