Options Vesting Date 1/4 of options 1 year after grant date 1/4 of options 2 years after grant date 1/4 of options 3 years after grant date 1/4 of options 4 years after grant date
EXHIBIT 10.5
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| AXS-One Inc. | ||||
| Notice of Grant of Stock Options and Option Agreement | ID: 132966911 | ||||
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| 301 Route 17 North | ||||
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| Rutherford, NJ 07070 | ||||
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| employee name |
| Option Number: |
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| employee address |
| Plan: |
| 2005 Stock Incentive Plan |
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| city, state zip |
| ID: |
| Ss# or emp Id# |
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Effective {grant date}, you have been granted a(n) Incentive Stock Option {or Non-Qualified Stock Option} to buy 20,000 shares of AXS-One Inc. (the Company) stock at ${closing price on day shares were granted} per share.
The total option price of the shares granted is ${# of shares times grant price}.
Shares in each period will become fully vested on the date shown.
| Options |
| Vesting Date |
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| 1/4 of options |
| 1 year after grant date |
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| 1/4 of options |
| 2 years after grant date |
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| 1/4 of options |
| 3 years after grant date |
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| 1/4 of options |
| 4 years after grant date |
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By your signature and the Company’s signature below, you and the Company agree that these options are granted under and governed by the terms and conditions of the Company’s 2005 Stock Incentive Plan and the Option Agreement, all of which are attached and made a part of this document.
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| AXS-One Inc. |
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| Optionee |
| Date |
