GeVity HR 1997 Non-Qualified Stock Option Grant Letter to Employee
GeVity HR grants an employee a non-qualified stock option under its 1997 Stock Incentive Plan, allowing the employee to purchase a specified number of company shares at a set price. The options vest according to a schedule and can be exercised while employed or within a limited period after employment ends, with special provisions for termination due to death or disability. The employee must sign to acknowledge receipt and acceptance of the terms. The agreement outlines key dates, vesting, and exercise conditions.
EXHIBIT 10.1
GEVITY HR600 301 Blvd. W.,
P.O. Drawer 25020
Bradenton, FL 34206
(941) 748-4540
Date: _________
Dear:________________
Pursuant to the terms and conditions of the company’s 1997 Stock Incentive Plan (the ‘Plan’), you have been granted a Non-Qualified Option to purchase ________shares (the ‘Option’) of common stock as outlined below.
Granted To:________________________________________
Grant Date:________________________________________
Options Granted:___________________________________
Exercise Price per Share:___________________________________ Total Cost to Exercise:______________
Expiration Date:__________________________________________
The Option Shares shall become vested in accordance with the following Vesting Schedule. All or a portion of the Option Shares may become vested on an earlier date as provided in the attached Terms and Conditions. Options cease to vest upon termination of employment.
Vesting Schedule: _____________________
Option Period: Vested Options may be exercised on or before the last day of employment and for up to 90 days following termination of employment, unless termination is for cause or due to Death or Disability, but no later than the expiration date of the Option. If termination of employment is due to Death or Disability, vested options may be exercised for up to 12 months after the optionee ceased to be an employee of the Company or Subsidiary. See attached Terms and Conditions for other limitations that may apply to exercising the Option.
By my signature below, I hereby acknowledge receipt of the Options granted on the date shown above, which has been issued to me under the terms and conditions of the Plan. I further acknowledge receipt of the copy of the Plan and agree to conform to all of the terms and conditions of the Option and the Plan.
Signature: ____________________________ Date: ________________
Keep the optionee statement and one copy of the award letter for your records. Please sign the extra copy of the award letter and return it to the Corporate Controller
Note: If there are any discrepancies in the name or address shown above, please
make the appropriate corrections on this form.
