Non-Qualified Stock Option Agreement between Innovative Solutions & Support, Inc. and Optionee (2024)
This agreement is between Innovative Solutions & Support, Inc. and an individual (the Optionee), granting the Optionee the right to purchase company stock at a set price under the company's stock incentive plan. The option vests over four years, with one-quarter becoming exercisable each year, and must be exercised within ten years or sooner if the Optionee leaves the company. The agreement outlines payment methods, transfer restrictions, and conditions for forfeiture. It also addresses tax withholding and compliance with laws. The agreement does not guarantee continued employment.
Exhibit 10.3
NON-QUALIFIED STOCK OPTION AGREEMENT
This AGREEMENT, dated as of [ ], 2024, is made by and between Innovative Solutions & Support, Inc. a Pennsylvania corporation (the “Company”), and [ ] (the “Optionee”).
W I T N E S S E T H
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(ii)the completion of any registration or qualification of such shares under any federal or state law, or any rule or regulation of any government body which the Company shall, in its sole discretion, determine to be necessary or advisable. Moreover, this option
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may not be exercised if its exercise, or the receipt of shares of stock pursuant thereto, would be contrary to applicable law.
Innovative Solutions and Support, Inc. 720 Pennsylvania Drive
Exton, PA 19341 Attention: Chairman
and any notice hereunder to Optionee shall be addressed to Optionee at the most recent address on file in the Company’s records, subject to the right of either party to designate at any time hereafter in writing some other address.
Signature Page Follows
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IN WITNESS WHEREOF, the Company has caused this Agreement to be executed by an appropriate officer and Optionee has executed this Agreement, both as of the day and year first above written.
INNOVATIVE SOLUTIONS AND SUPPORT, INC.
Strike Price: $[ ]By: Date: [ ] Shahram Askarpour
Chief Executive Officer
Agreed to and Accepted

[ ]
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