Intrusion Inc. Stock Option Grant Notice and Agreement

Contract Categories: Business Finance › Warrant Agreements
Summary

This agreement is between Intrusion Inc. and an individual (the Optionee), granting the Optionee the right to purchase a specified number of shares of Intrusion Inc.'s common stock at a set price, under the company's 2015 Stock Incentive Plan. The agreement outlines the exercise price, vesting schedule, and expiration date of the option. It also states that shares acquired may be subject to repurchase rights and clarifies that employment is at will, meaning either party can terminate employment at any time. The agreement is subject to the terms of the Stock Option Agreement and the Plan.

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EX-10.8 3 ex_138590.htm EXHIBIT 10.8 ex_138590.htm

Exhibit 10.8

 

INTRUSION INC.

 

NOTICE OF GRANT OF STOCK OPTION

 

Notice is hereby given of the following option grant (the “Option”) to purchase shares of the Common Stock of Intrusion Inc. (the “Corporation”):

 

OPTIONEE:

  
   

GRANT NUMBER:

  
   

GRANT DATE:

  
   

EXERCISE PRICE:

$                               per share
   

NUMBER OF OPTION SHARES:

                                  shares
   

EXPIRATION DATE:

  
   

TYPE OF OPTION:

                     Incentive Stock Option
   
 

                      Non-Statutory Stock Option
   

VESTING SCHEDULE:

  

 

Optionee understands and agrees that the Option is granted subject to and in accordance with the terms of the Intrusion Inc. 2015 Stock Incentive Plan (the “Plan”). Optionee further agrees to be bound by the terms of the Plan and the terms of the Option as set forth in the Stock Option Agreement attached hereto as EXHIBIT A. A copy of the Plan is available upon request made to the Corporate Secretary at the Corporation’s principal offices.

 

REPURCHASE RIGHTS. Optionee hereby agrees that the shares acquired upon the exercise of the Option may be subject to certain repurchase rights set forth in the Stock Option Agreement.

 

EMPLOYMENT AT WILL. Nothing in this Notice or in the attached Stock Option Agreement or in the Plan shall confer upon Optionee any right to continue in Service for any period of specific duration or interfere with or otherwise restrict in any way the rights of the Corporation (or any Parent or Subsidiary employing or retaining Optionee) or of Optionee, which rights are hereby expressly reserved by each, to terminate Optionee’s Service at any time for any reason, with or without cause.

 

DEFINITIONS. All capitalized terms in this Notice shall have the meaning assigned to them in this Notice or in the attached Stock Option Agreement.

 

 
 

 

DATED:___________________

 

 

INTRUSION INC.

 

 

 

 

 

 

By:

 

 

 

Name:

 

 

 

Title:

 

 

 

  OPTIONEE  
       
  Signature:    
  Printed Name:    
  Address:    
       
       

 

ATTACHMENTS
EXHIBIT A - STOCK OPTION AGREEMENT

 

 
 

 

 

EXHIBIT A

STOCK OPTION AGREEMENT