Legal Proceedings

EX-10.4 6 v79940ex10-4.txt EXHIBIT 10.4 EXHIBIT 10.4 November 6, 2001 Sally von Bargen Seattle, WA RE: VESTING OF STOCK OPTIONS Dear Sally: This letter is to confirm the amendments to your various stock option award agreements under the Getty Images, Inc. 1998 Stock Incentive Plan. Specifically, this is to confirm that each of those agreements will be amended as follows: (a) All options awarded under those agreements are fully vested and exercisable with effect from November 6, 2001, and (b) You may exercise the options awarded under those agreements any time until the option expiration dates, as described in your option agreements, provided that no option shall be exercisable more than one year after your death. Sally Von Bargen November 6, 2001 Page 2 For the avoidance of doubt, the status of your stock option grants is as follows:
OPTIONS OPTIONS VESTED & GRANT DATE SHARES STRIKE PRICE EXERCISED ACCELERATED EXERCISABLE - ---------- ------ ------------ --------- ----------- ----------- 11/1/94 8,167 $ 0.18 8,167 0 0 2/9/98 65,000 $ 20.91 0 4,062 65,000 4/9/99 70,000 $ 23.32 0 26,250 70,000 10/22/99 15,000 $ 19.07 0 7,500 15,000 10/22/99 25,000 $ 19.07 0 12,250 25,000 3/30/01 20,000 $ 16.85 0 20,000 20,000 TOTALS 203,167 70,312 195,000
All other terms of your stock option award agreements remain unchanged. Please confirm that your agreement with the contents of this letter by signing both originals and returning one original to me. You may keep one original for your files. Sincerely yours, Jeffrey L. Beyle ACCEPTED AND AGREED: - --------------------------------- Sally von Bargen