Adolor Corporation Form of Stock Option Agreement under 2003 and 1994 Equity Compensation Plans

Contract Categories: Business Finance › Warrant Agreements
Summary

This agreement grants an employee of Adolor Corporation the right to purchase company common stock under the terms of either the 2003 Stock Based Incentive Compensation Plan or the 1994 Amended and Restated Equity Compensation Plan. The option is divided into Incentive Stock Options and Non-Qualified Stock Options due to IRS limits, with details on the number of shares, price, and expiration provided. The recipient acknowledges receipt of the agreement and related documents and agrees to the plan's terms.

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EX-10.26 2 dex1026.htm FORM OF STOCK OPTION AGREEMENT Form of Stock Option Agreement

Exhibit 10.26

 

Date

 

Name

Address

City State

 

Dear                     :

 

Pursuant to the terms and conditions of Adolor Corporation’s 2003 Stock Based Incentive Compensation Plan or Adolor’s 1994 Amended and Restated Equity Compensation Plan (the ‘Plan’), you have been granted an Option to purchase              shares (the ‘Option’) of common stock as outlined below. Because of the IRS limitation of $100,000 per year on Incentive Stock Options, the option must be segmented into              shares covered by an Incentive Stock Option and              shares covered by a Non-Qualified Stock Option. Together these options vest                      effective as of date of grant.

 

Granted to:

   

___________

          
    

SS #                  

          

Grant Date:

   

___________

          

Options Granted:

   

________Incentive Stock Options

     

Option Price per Share:

   

$            

   

Total Cost to Exercise:

   

$            

Expiration Date:

   

_________

          

Options Granted:

   

_________Non-Qualified Stock Options

     

Option Price per Share:

   

$            

   

Total Cost to Exercise:

   

$            

Expiration Date:

   

___________

          

 

Michael R. Dougherty

Chief Operating Officer

 

I hereby acknowledge receipt of the Stock Option granted on the date shown above, which has been issued to me under the terms and conditions of the Plan and this Option Agreement. I also acknowledge receipt of copies of the Plan, its Summary Description and the Company’s latest annual report (SEC Form 10-K), and acknowledge and agree that I am bound by the terms and conditions of the Plan and this Option Agreement with respect to my option.

 

Signature:

  

 

    Date