Cryoport, Inc. Nonstatutory Stock Option Agreement with Employee
This agreement is between Cryoport, Inc. and an employee (the Optionee), granting the Optionee the right to purchase a specified number of shares of Cryoport’s common stock at a set price. The options vest monthly over four years, with possible accelerated vesting if the company reports two consecutive profitable quarters or undergoes a change in control. The agreement outlines how the options can be exercised, payment methods, tax withholding, and transfer restrictions. The options expire after ten years or 90 days after the Optionee leaves the company, whichever comes first.
Exhibit 10.17
STOCK OPTION AGREEMENT
This Stock Option Agreement (“Agreement”) is between Cryoport, Inc. (“Company”) and (the “Optionee”), and is effective as of _______, 2015 (“Grant Date”).
AGREEMENT
In consideration of the mutual covenants and conditions hereinafter set forth and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Company and the Optionee agree as follows:
1/48 of the options vest on the 18th of each month for forty eight months beginning on X/X/201X and ending on X/X/201X
Provided that such vesting will be accelerated on the date that the Company files a Form 10-Q or Form 10-K indicating an income from operations for the Company in two consecutive fiscal quarters;
Provided further, that, pursuant to Section 13 below, such vesting will be accelerated in the event of a Change of Control (as defined in Section 13).
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The transfer of stock or assets of the Company in connection with a bankruptcy filing by or against the Company under Title 11 of the United States Code will not be considered to be a Change of Control for purposes of this Agreement. Additionally, a transaction shall not constitute a Change in Control if its sole purpose is to change the state of the Company’s incorporation or to create a holding company that will be owned in substantially the same proportions by the persons who held the Company’s securities immediately before such transaction.
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IN WITNESS WHEREOF, the Company has caused this Agreement to be executed by its duly authorized representative and Optionee has signed this Agreement, and this Agreement shall be effective as of the day and year first written above.
Date | Cryoport, Inc. By: Name: Title: |
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