Comverge Technologies, Inc. Anti-Dilution Stock Option Grant to Frank A. Magnotti

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Summary

Comverge Technologies, Inc. has granted Frank A. Magnotti a nonstatutory anti-dilution stock option to purchase 30,250 shares of the company's common stock at $1.31 per share. The option vests in three equal installments on July 1 of 2002, 2003, and 2004, and expires on November 12, 2011. The grant is subject to the terms of the company's 2000 Stock Plan and Stock Option Agreement. Magnotti is also subject to a non-competition obligation during his service and for 12 months after termination.

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EX-10.15 19 dex1015.htm COMVERGE TECHNOLOGIES, INC. NOTICE OF ANTI-DILUTION STOCK OPTION GRANT Comverge Technologies, Inc. Notice of Anti-Dilution Stock Option Grant

Exhibit 10.15

COMVERGE TECHNOLOGIES, INC.

NOTICE OF ANTI-DILUTION STOCK OPTION GRANT

You have been granted the following option (“Option”) to purchase Common Stock of Comverge Technologies, Inc. (the “Company”):

 

Name of Optionee:   Frank A. Magnotti
Number of Shares Subject to Option:   30,250
Type of Option:   Nonstatutory Anti-Dilution Stock Option
Exercise Price Per Share:   $1.31
Date of Grant:   November 13, 2001
Date Exercisable:   The Option is not currently fully exercisable. The Option will become exercisable (subject to the limitations set forth in the attached Stock Option Agreement), on a cumulative basis, as follows (i) with respect to one-third of the shares subject thereto on July 1, 2002; (ii) with respect to one-third of the shares subject thereto on July 1, 2003; and (iii) with respect to one-third of the shares subject thereto on July 1, 2004.
Right of Repurchase:   None.
Non-Competition:   During Service and for 12 months after any termination of Service.
Term/Expiration Date:   November 12, 2011

By your signature and the signature of the Company’s representative below, you and the Company agree that this option is granted under and governed by the terms and conditions of the 2000 Stock Plan and the Stock Option Agreement, both of which are attached to and made a part of this document.

 

OPTIONEE:     COMVERGE TECHNOLOGIES, INC.

/s/ Frank A. Magnotti

    

/s/ Robert M. Chiste

Frank A. Magnotti     Robert M. Chiste
    Chief Executive Officer