Table of Inducement Stock Option Grants to Non-Executive Employees by Registrant
This document lists non-qualified stock options granted by the company to certain employees who are not executive officers, as an inducement to employment. Each option grant is subject to a five-year term, with 25% of the options vesting after one year and the remainder vesting quarterly over the next three years, provided the employee remains employed. The table details the grant dates, number of shares, and exercise prices for each option. These grants are not approved by shareholders and are governed by a standard agreement previously filed with the SEC.
EXHIBIT 10.1
Table of Inducement Stock Option Grants
From time to time, as an inducement to employment, the registrant has granted to certain of its employees that are not executive officers non-qualified stock options in accordance with individual compensation arrangements that have not been approved by the registrants security holders (collectively, the Inducement Options). All Inducement Options are documented pursuant to the form of Inducement Grant Notice and Inducement Stock Option Agreement filed as Exhibit 4.1 to the registrants Form 8-K filed on September 28, 2004.
The table set forth below lists the Inducement Options granted by the registrant to certain of its employees that are not executive officers, and the principal terms thereof. Each of the following options is a non-statutory option, has a five year term and vests 25% on the first anniversary of the grant date and then quarterly thereafter for the next 12 quarters, subject to continued employment and other conditions.
Date of Grant | Shares Underlying Option | Exercise Price |
9/21/04 | 3,500 | $6.14 |
9/21/04 | 15,000 | $6.14 |
9/21/04 | 1,000 | $6.14 |
9/21/04 | 10,000 | $6.14 |
9/21/04 | 17,500 | $6.14 |
10/26/04 | 2,500 | $6.21 |
10/26/04 | 12,500 | $6.21 |
10/26/04 | 5,000 | $6.21 |
11/16/04 | 1,500 | $6.70 |
11/16/04 | 2,500 | $6.70 |
12/22/04 | 6,000 | $10.06 |
12/22/04 | 18,000 | $10.06 |
12/22/04 | 20,000 | $10.06 |
12/22/04 | 5,000 | $10.06 |
12/22/04 | 2,500 | $10.06 |
12/22/04 | 25,000 | $10.06 |
1/25/05 | 20,000 | $9.48 |
1/25/05 | 2,000 | $9.48 |
1/25/05 | 8,000 | $9.48 |
1/25/05 | 15,000 | $9.48 |
1/25/05 | 12,000 | $9.48 |
3/16/05 | 12,000 | $8.40 |
3/16/05 | 12,000 | $8.40 |