Comshare, Inc. Stock Option Grant and Option Agreement with Kathryn A. Jehle
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Summary
Comshare, Inc. granted Kathryn A. Jehle several stock options under its 1988 Stock Option Plan, allowing her to purchase specified numbers of shares at set prices. The options vest in installments over several years and can be exercised up to certain expiration dates, even after her employment ends, as approved by the Board. The options were converted from Incentive Stock Options to Non-Qualified Stock Options to comply with regulations. The agreement is governed by Michigan law and is not transferable except by inheritance.
EX-10.04 5 k62543ex10-04.txt NOTICES OF GRANT OF STOCK OPTIONS AND OPTION 1 EXHIBIT 10.04
Effective 11/6/1997, you were granted an Incentive Stock Option (ISO) to buy 9,000 shares of Comshare Common stock at $7.0000 per share. The total price for the shares granted under this Option is $63,000.00. Comshare's Board approved a special provision allowing you the right to continue to exercise your vested stock options following your termination of employment. You are eligible to exercise your vested options up to the expiration dates shown below. The status of your options was also changed from ISO to Non-Qualified Stock Options to comply with current regulations. Option shares will become vested in installments, on the dates set forth below:
2
Effective 11/8/1996, you were granted an Incentive Stock Option (ISO) to buy 9,000 shares of Comshare Common stock at $14.8800 per share. The total price for the shares granted under this Option is $133,920.00. Comshare's Board approved a special provision allowing you the right to continue to exercise your vested stock options following your termination of employment. You are eligible to exercise your vested options up to the expiration dates shown below. The status of your options was also changed from ISO to Non-Qualified Stock Options to comply with current regulations. Option shares will become vested in installments, on the dates set forth below:
3
4
Effective 2/3/1999, you were granted an Incentive Stock Option (ISO) to buy 15,000 shares of Comshare Common stock at $3.5938 per share. The total price for the shares granted under this Option is $53,907.00. Comshare's Board approved a special provision allowing you the right to continue to exercise your vested stock options following your termination of employment. You are eligible to exercise your vested options up to the expiration dates shown below. The status of your options was also changed from ISO to Non-Qualified Stock Options to comply with current regulations. Option shares will become vested in installments, on the dates set forth below:
5
Effective 6/24/1999, you were granted an Incentive Stock Option (ISO) to buy 20,000 shares of Comshare Common stock at $3.0938 per share. The total price for the shares granted under this Option is $61,876.00. Comshare's Board approved a special provision allowing you the right to continue to exercise your vested stock options following your termination of employment. You are eligible to exercise your vested options up to the expiration dates shown below. The status of your options was also changed from ISO to Non-Qualified Stock Options to comply with current regulations. Option shares will become vested in installments, on the dates set forth below:
6