Encysive Pharmaceuticals Inc. Incentive Stock Option Agreement

Summary

Encysive Pharmaceuticals Inc. grants an employee the right to purchase company stock at a set price under its Stock Option Plan. The agreement specifies the number of shares, the exercise price, and a vesting schedule where one third of the shares vest on each of the first three anniversaries of the grant date. The options expire ten years from the grant date. To accept, the employee must sign and return the agreement within 30 days. The options qualify as incentive stock options under IRS rules.

EX-10.1 3 h19769exv10w1.txt FORM OF OPTION AGREEMENT FOR INCENTIVE STOCK OPTIONS EXHIBIT 10.1 ENCYSIVE PHARMACEUTICALS INC. ID: 13 ###-###-#### West Loop South, 4th Floor Bellaire, Texas 77401 NOTICE OF GRANT OF STOCK OPTIONS AND OPTION AGREEMENT ____________________________ OPTION NUMBER: __________ ____________________________ PLAN: __________ ____________________________ ID: __________ Effective ________, you have been granted a(n) Incentive Stock Option to buy _____ shares of Encysive Pharmaceuticals Inc. (the Company) stock at $________ per share. The total option price of the shares granted is $_________. Shares in each period will become fully vested on the date shown. Shares Vest Type Full Vest Expiration [ One third of granted shares vest on first, [ Expire 10 years second and third anniversary of Grant Date. ] from Grant Date. ] 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 Stock Option Plan as amended and the Option Agreement, all of which are attached and made a part of this document. Also attached hereto is an Information Memorandum about the Company's Prospectus covering the Plan. These options are considered to be incentive stock options under Section 422 of the Internal Revenue Code of 1986. This letter shall constitute a grant of incentive stock options and an Incentive Agreement under the Plan. This grant and Incentive Agreement are also subject to the further condition that YOU RETURN TO US WITHIN THIRTY (30) DAYS FROM THE DATE OF THIS LETTER A SIGNED COPY OF THIS LETTER to indicate your receipt of the above referenced documents. Please retain this original letter as your documentation of this stock option grant and Incentive Agreement. __________________________________________ ________________________________ Encysive Pharmaceuticals Inc. Date __________________________________________ ________________________________ _______________ Date Date: __________