OPTION TERMINATION ELECTIONOption Termination Election • December 13th, 2007 • Natrol Inc • Medicinal chemicals & botanical products • Delaware
OPTION TERMINATION ELECTION (this “Agreement”), made this 13th day of December, 2007, by and among Natrol, Inc. (the “Company”) and (“Optionholder”).
Natrol, Inc.Merger Agreement • December 13th, 2007 • Natrol Inc • Medicinal chemicals & botanical products
Pursuant to the Merger Agreement, all of the outstanding and unexpired options to purchase shares of the Company’s common stock, whether vested or unvested, (the “Options”) will be cancelled and you will be entitled to receive at the Effective Time, the excess, if any, of the Per Share Price over the exercise price per share subject to such Option, as may be reduced for applicable withholding taxes. Our records indicate that you currently hold one or more Options under the Company’s Amended and Restated 1996 Stock Option and Grant Plan and/or the 2006 Stock Option and Incentive Plan (together, the “Plans”). The Plans provide that subject to the consummation of the Merger you are entitled to exercise all of your Options effective as of immediately prior to the Effective Time, and receive the excess, if any, of the Per Share Price over the exercise price per share subject to such Option, as may be reduced for applicable withholding taxes.
