LSI Corporation Notice of Grant of Nonqualified Stock Option to Non-Employee Directors

Contract Categories: Business Finance › Warrant Agreements
Summary

LSI Corporation grants a nonqualified stock option to a non-employee director under its 2003 Equity Incentive Plan. The option allows the director to purchase a specified number of LSI common shares at a set price, provided certain vesting conditions are met and the director remains in service. The right to exercise the option ends on a stated expiration date or earlier as outlined in the agreement or plan. By signing, the director agrees to the terms of the grant, the attached agreement, and the plan.

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EX-10.4 6 exhibi10-4.htm FORM OF NOTICE OF GRANT OF STOCK OPTION FOR NON-EMPLOYEE DIRECTORS exhibi10-4.htm
Exhibit 10.4
 
     
Notice of Grant of
  
LSI CORPORATION
Stock Option
  
ID: 94 ###-###-####
Under the
  
1621 BARBER LANE
LSI Corporation 2003 Equity Incentive Plan
  
MILPITAS, CALIFORNIA 95035
 
       
GRANTEE NAME
  
Award Number:
  
Address
  
Grant Date:
  
Address
  
Number of Shares:
  
   
Exercise Price:
  
   
Expiration Date:
  
 
 
On the grant date shown above, LSI Corporation granted you a nonqualified stock option covering the number of shares shown above under the LSI Corporation 2003 Equity Incentive Plan. When exercisable, the option will allow you to purchase shares of LSI’s common stock for a price per share equal to the exercise price shown above. Your right to exercise this Option will terminate on the expiration date shown above or earlier if provided in the attached Nonqualified Stock Option Agreement or in the plan.
 
 
Your option will become exercisable with respect to the number of shares and at the time or times indicated below, but only if [any applicable performance requirements indicated below have been met and] you have not incurred a Termination of Service prior to the applicable time.
 
         
Shares
  
Vesting Date
  
         
         
         
         
         
         
         
 
 
By your signature below, you agree that this award is governed by this Notice of Grant, the attached Nonqualified Stock Option Agreement and the LSI Corporation 2003 Equity Incentive Plan. You acknowledge that you have received, read and understand this Notice of Grant, the attached agreement and the plan. You agree to accept as binding all decisions or interpretations of the Board of Directors of LSI or its delegate regarding any questions relating to this Notice of Grant, the attached agreement or the plan.
 
     
______________________________________________
    
GRANTEE NAME
    
Date: