Harris & Harris Group Inc. Employee Stock Option Grant and Vesting Schedule (June 26, 2006)

Contract Categories: Human Resources › Bonus & Incentive Agreements
Summary

This document outlines the stock option grants awarded by Harris & Harris Group Inc. to various employees as of June 26, 2006. It details the number of options granted, vesting schedules, and expiration dates for each recipient. The agreement specifies when portions of the options become exercisable over several years, with most options expiring ten years from the grant date. The document covers both incentive stock options (ISOs) and non-qualified stock options (NQSOs), providing a clear timeline for vesting and exercise rights for each employee.

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EX-10.3 4 v046218_ex10-3.txt HARRIS & HARRIS GROUP INC. OPTION GRANTING, VESTING AND EXPIRATIONS GRANT DATE FOR ALL OPTIONS: JUNE 26, 2006
------------------------------------------------------------------------------------ VESTING PERIOD ------------------------------------------------------------------------------------ Expiration Total Date of Options Options 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 Granted - ------------------------------------------------------------------------------------------------------------------------------------ HARRIS 10 Yr NQSO (vest 33% on 12/26/06, 33% vest on 6/26/07, and 33% on 6/26/08) 6/26/2016 230,000 230,000 230,000 690,000 10 Yr ISO (vest 33% on 12/26/06, 33% vest on 6/26/07, and 33% on 6/26/08) 6/26/2016 9,891 9,891 9,891 29,673 NQSO- 1 Yr - 100% vest on 12/26/06 6/26/2007 200,327 200,327 NQSO- 2 Yr 50% vest on 6/26/07 6/26/2008 20,000 20,000 50% vest on 12/26/07 6/26/2008 20,000 20,000 NQSO- 3 Yr - 33% vest on 6/26/07 6/26/2009 13,334 13,334 33% vest on 6/26/08 6/26/2009 13,333 13,333 33% vest on 12/26/08 6/26/2009 13,333 13,333 1,000,000 - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ JAMISON 10 Yr ISO(1) 6/26/2016 9,891 9,891 9,891 9,891 9,891 9,891 9,891 9,891 9,891 89,019 NQSO- 1 Yr 100% vest on 12/26/06 6/26/2007 200,981 200,981 NQSO 2 Yr 50% vest on 6/26/07 6/26/2008 95,000 95,000 50% vest on 12/26/07 6/26/2008 95,000 95,000 NQSO- 3 Yr 33% vest on 6/26/07 6/26/2009 53,334 53,334 33% vest on 6/26/08 6/26/2009 53,333 53,333 33% vest on 12/26/08 6/26/2009 53,333 53,333 640,000 - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ LEFF - 10 Yr ISO (1) 6/26/2016 9,891 9,891 9,891 9,891 9,891 9,891 9,891 9,891 9,891 89,019 NQSO- 1 Yr 100% vest on 12/26/06 6/26/2007 200,981 200,981 NQSO 2 Yr 50% vest on 6/26/07 6/26/2008 95,000 95,000 50% vest on 12/26/07 6/26/2008 95,000 95,000 NQSO - 3 Yr 33% vest on 6/26/07 6/26/2009 53,334 53,334 33% vest on 6/26/08 6/26/2009 53,333 53,333 33% vest on 12/26/08 6/26/2009 53,333 53,333 640,000 - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ ANDREEV - 10 Yr ISO(1) 6/26/2016 9,891 9,891 9,891 9,891 9,891 9,891 9,891 9,891 9,891 89,019 NQSO- 1 Yr 100% vest on 12/26/06 6/26/2007 200,981 200,981 NQSO 2 Yr 50% vest on 6/26/07 6/26/2008 95,000 95,000 50% vest on 12/26/07 6/26/2008 95,000 95,000 NQSO- 3 Yr 33% vest on 6/26/07 6/26/2009 53,334 53,334 33% vest on 6/26/08 6/26/2009 53,333 53,333 33% vest on 12/26/08 6/26/2009 53,333 53,333 640,000 - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ FORMAN 10 Yr ISO(1) 6/26/2016 9,891 9,891 9,891 9,891 9,891 9,891 9,891 9,891 9,891 89,019 NQSO- 1 Yr 100% vest on 12/26/06 6/26/2007 100,981 100,981 NQSO 2 Yr 50% vest on 6/26/07 6/26/2008 55,000 55,000 50% vest on 12/26/07 6/26/2008 55,000 55,000 NQSO- 3 Yr 33% vest on 6/26/07 6/26/2009 25,000 25,000 33% vest on 6/26/08 6/26/2009 25,000 25,000 33% vest on 12/26/08 6/26/2009 25,000 25,000 375,000 - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ WOLFE 10 Yr ISO (1) 6/26/2016 9,891 9,891 9,891 9,891 9,891 9,891 9,891 9,891 9,891 89,019 NQSO- 1 Yr 100% vest on 12/26/06 6/26/2007 80,981 80,981 NQSO 2 Yr 50% vest on 6/26/07 6/26/2008 45,000 45,000 50% vest on 12/26/07 6/26/2008 45,000 45,000 NQSO- 3 Yr 33% vest on 6/26/07 6/26/2009 20,000 20,000 33% vest on 6/26/08 6/26/2009 20,000 20,000 33% vest on 12/26/08 6/26/2009 20,000 20,000 320,000 - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ EGAN 10 Yr ISO(1) 6/26/2016 9,891 9,891 9,891 9,891 9,891 9,891 9,891 9,891 9,891 89,019 - NQSO- 1 Yr 100% vest on 12/26/06 6/26/2007 10,981 10,981 NQSO 2 Yr 50% vest on 6/26/07 6/26/2008 2,500 2,500 50% vest on 12/26/07 6/26/2008 2,500 2,500 NQSO- 3 Yr 33% vest on 6/26/07 6/26/2009 1,487 1,487 33% vest on 6/26/08 6/26/2009 1,487 1,487 33% vest on 12/26/08 6/26/2009 1,486 1,486 109,460 - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ BRADY - 10 Yr ISO(1) 6/26/2016 9,891 9,891 9,891 9,891 9,891 9,891 9,891 9,891 9,891 89,019 NQSO- 1 Yr - 100% vest on 12/26/06 6/26/2007 4,804 4,804 93,823 - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ OTHER EMPLOYEES 10 Yr ISO(1) 6/26/2016 15,556 15,556 15,556 15,556 15,556 15,556 15,556 15,554 15,554 140,000 - ------------------------------------------------------------------------------------------------------------------------------------ - - ------------------------------------------------------------------------------------------------------------------------------------ Total 1,325,701 1,359,507 764,321 84,793 84,793 84,793 84,793 84,791 84,791 - - 3,958,283 - ------------------------------------------------------------------------------------------------------------------------------------
Footnote (1): 10 Yr ISO's vest 1/9 of total award on 12/26/06, then 1/9 of total award on each of the following dates: 6/26/07, 6/26/08, 6/26/09, 6/26/10, 6/26/11, 6/26/12, 6/26/13 and 6/26/14