Molecular Insight Pharmaceuticals, Inc. Nonqualified Stock Option Award under 2006 Equity Incentive Plan
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This agreement grants the recipient a nonqualified stock option to purchase shares of Molecular Insight Pharmaceuticals, Inc. common stock under the company's 2006 Equity Incentive Plan. The option vests over four years or upon achievement of certain performance goals, provided the recipient remains employed or continues to provide services. The agreement outlines the exercise process, restrictions on transfer, and conditions for termination of the option, including provisions for death, disability, retirement, or termination for cause. The option is subject to company policies, applicable laws, and the terms of the plan.
EX-10.2 3 b65870miexv10w2.txt EX-10.2 FORM OF NONQUALIFIED STOCK OPTION AWARD EXHIBIT 10.2 AMENDED AND RESTATED MOLECULAR INSIGHT PHARMACEUTICALS, INC. 2006 EQUITY INCENTIVE PLAN NONQUALIFIED STOCK OPTION AWARD [Name] [Address] Dear _____________________: You have been granted an option (the "OPTION") to purchase shares of common stock of Molecular Insight Pharmaceuticals, Inc. (the "COMPANY") under the Amended and Restated Molecular Insight Pharmaceuticals, Inc. 2006 Equity Incentive Plan (the "PLAN") with the following terms and conditions: Grant Date: __________, 20___ Type of Option: Nonqualified Stock Option Number of Option Shares: __________________ Exercise Price per Share: U.S. $_____________ Expiration: Close of business at the Company headquarters on the tenth (10th) anniversary of the Grant Date, subject to earlier termination as described under "Termination of Employment or Service Arrangement." Vesting: One Hundred percent (100%) of your Option will vest in accordance with the following schedule, provided you are continuously employed by, or continuously provide services to, the Company or an Affiliate until the applicable vesting date: 1 Percent of Option Vested Vesting Date ------------- ------------ 25% 1st anniversary of the Grant Date An additional 25% 2nd anniversary of the Grant Date An additional 25% 3rd anniversary of the Grant Date An additional 25% 4th anniversary of the Grant Date [_____ PERCENT (__%) OF YOUR OPTION WILL VEST ON ACHIEVEMENT OF PERFORMANCE GOALS AS SPECIFIED IN SCHEDULE A TO THIS STOCK - ----------------------- 1 Nonqualified stock options granted to Non-Employee Directors under automatic granting provisions under the Plan become exercisable in full on and after the first anniversary of the date of grant.
- ----------------------- 2 If a milestone provision is included, the vesting percentage subject to four equal annual installments needs to be proportionally reduced. 3. Nonqualified stock options granted to a Non-Employee Director under automatic granting provisions under the Plan terminate ninety (90) calendar days after such Non-Employee Director ceases to be a director of the Company for any reason, including as a result of the Non-Employee Director's death, disability or retirement. 2
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The Option is granted under and governed by the terms and conditions of the Plan. Additional provisions regarding your Option and definitions of capitalized terms used and not defined in this Stock Option Award can be found in the Plan. MOLECULAR INSIGHT PHARMACEUTICALS, INC. By: ------------------------------------ Authorized Officer OPTIONEE'S ACCEPTANCE BY SIGNING BELOW AND ACCEPTING THIS STOCK OPTION AWARD, YOU AGREE TO ALL OF THE TERMS AND CONDITIONS DESCRIBED HEREIN AND IN THE PLAN, AND YOU ALSO ACKNOWLEDGE RECEIPT OF THE PLAN IN ITS ENTIRETY AND THE SUMMARY OF THE PLAN, WHICH CONSTITUTES PART OF A PROSPECTUS COVERING SECURITIES THAT HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND MEETS THE REQUIREMENTS OF SECTION 10(a) OF SAID ACT. --------------------------------------- Optionee Signature Print Name: ---------------------------- 4