HQ Sustainable Maritime Industries, Inc. 2004 Stock Option Plan Exercise Agreement

Contract Categories: Business Finance › Warrant Agreements
Summary

This agreement allows an individual to exercise their stock options under the HQ Sustainable Maritime Industries, Inc. 2004 Stock Option Plan by purchasing company shares at a specified price. The individual must provide payment, complete required documentation, and fulfill any tax withholding obligations. If the exercised option is an Incentive Stock Option, the individual must notify the company of any early sale of shares. The agreement formalizes the process for acquiring shares through the company's stock option plan.

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EX-10.3 4 hq8kex103120304.txt FORM OF EXERCISE AGREEMENT. Exhibit 10.3 Attachment III -------------- HQ SUSTAINABLE MARITIME INDUSTRIES, INC. 2004 STOCK OPTION PLAN EXERCISE AGREEMENT ------------------ The Committee for the HQ Sustainable Maritime Industries, Inc. 2004 Stock Option Plan Attn: ___________________________ To the Committee: This constitutes notice under my Option that I,_______________________, elect to purchase the number of shares of Stock ("Shares") for the price set forth below. o Date of exercise: ____________________ o Type of Option (check one): Incentive |_| Non-Qualified |_| o Option dated: ____________________ o Number of Shares as to which Option is exercised: ____________________ o Exercise Price per share: ____________________ o Total Exercise Price: ____________________ o Cash payment delivered herewith: ____________________ o Certificates to be issued in name of: ____________________ By this exercise, I agree (i) to provide such additional documents as you may require pursuant to the terms of the HQ Sustainable Maritime Industries, Inc. 2004 Stock Option Plan, (ii) to provide for the payment by me to you (in the manner designated by you) of your withholding obligation, if any, relating to the exercise of this Option, and (iii) if this exercise relates to an ISO, to notify you in writing within fifteen (15) days after the date of any disposition of any of the Shares issued upon exercise of this Option that occurs within two (2) years after the Date of Grant of this Option or within one (1) year after such Shares are issued upon exercise of this Option. Defined terms not explicitly defined in this Exercise Agreement but defined in the Plan shall have the same definitions as in the Plan. Signature:_____________________________ Date:___________________