HPL Technologies, Inc. Stock Option Grant Letter to Employee

Contract Categories: Business Finance › Warrant Agreements
Summary

HPL Technologies, Inc. grants the recipient an option to purchase a specified number of shares of its common stock at a set price, effective as of the grant date in 2001. The option vests annually over a set period, with a portion becoming exercisable each year, and expires after a defined term. The option is governed by the company's 2001 Equity Incentive Plan and may be subject to additional restrictions or repurchase rights. The recipient must agree to all terms of the plan and this letter to accept the grant.

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EX-10.4 4 a2053459zex-10_4.txt EX 10.4 Exhibt 10.4 HPL LETTERHEAD To: From: Date: _______, 2001 HPL Technologies, Inc. is pleased to grant you an option to purchase ______ shares of Common Stock of HPL Technologies, Inc. at an exercise price of $ __ per share, as of _________, 2001 (the "Grant Date"). Each year for _____ years, _______ percent (__%) of the option shares will become exercisable on the anniversary of the Grant Date. The option to purchase these shares expires ____ years from the Grant Date. The option is [an incentive stock option][non-statutory stock option] for tax purposes. This stock option is governed by the terms of the Amended and Restated 2001 Equity Incentive Plan, (the "Plan"), a copy of which is attached as Exhibit A to this letter. [This stock option may be exercised prior to the dates of exercise provided above; however all shares so acquired will be subject to Reverse Vesting, as defined in the Plan.] [Stock purchased under the option may be subject to re-purchase rights and re-sale restrictions, as provided in the Plan and in the option exercise documents, copies of which may be obtained from the Human Resources Department.] We appreciate your efforts and thank you for your continued contribution. - ------------------------------------- [President] - ---------- OPTIONEE ACCEPTS, AND AGREES TO BE BOUND BY, ALL TERMS AND CONDITIONS OF THE PLAN AND THIS LETTER. - ------------------------------- ------------------- Optionee Date