PacificHealth Laboratories, Inc. Stock Option Certificate for Stephen Kuchen (December 13, 2006)

Contract Categories: Business Finance › Warrant Agreements
Summary

PacificHealth Laboratories, Inc. grants Stephen Kuchen the option to purchase up to 50,000 shares of its common stock at $1.13 per share under the 1995 Incentive Stock Option Plan. The option vests in three annual installments from December 13, 2007, to December 13, 2009, and must be exercised by December 13, 2011, unless terminated earlier under the plan. Payment for shares can be made in cash or another approved method. The agreement outlines the terms and conditions for exercising the option.

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EX-10.2 3 ex10-2.htm EXHIBIT 10.2 Exhibit 10.2
Exhibit 10.2

OPTION CERTIFICATE



This Option Certificate evidences an Option ("Option") to purchase shares ("Option Shares") of Common Stock, par value $0.0025, of PacificHealth Laboratories, Inc. (the "Company") granted to STEPHEN KUCHEN (the "Optionee") pursuant to the Company's 1995 Incentive Stock Option Plan (the "Plan"), a copy of which has been furnished to the Optionee simultaneously with the delivery of this Option Certificate. The Option and Option Shares are subject to the terms, conditions, limitations and restrictions set forth in the Plan and the following terms and conditions:

a.    The effective date of the grant of the Option is December 13, 2006, and the number of Option Shares that may be purchased upon exercise of the Option is FIFTY THOUSAND (50,000) shares (the "Option Shares").

b.    The Option Price shall be $1.13 per Option Share.

c.    The Option shall vest, subject to the provisions for early termination set forth herein and in the Plan, as to 16,667 shares on December 13, 2007; as to 16,667 shares on December 13, 2008; and as to 16,666 shares on December 13, 2009.
 
d.    The Option shall be exercisable to purchase Option Shares beginning on the date the Option vests as to such Shares, and shall terminate as to vested Option Shares on December 13, 2011, unless sooner terminated pursuant to the Plan.

e.    The Option may not be exercised as to any Option Share prior to the time that the Option becomes vested as to such Share.

f.    The Option Price is payable at the time of exercise and shall be paid at the election of the Optionee (i) in cash; or (ii) in such other manner as may be approved by the Board of Directors or Committee of the Board then administering the Plan.

IN WITNESS WHEREOF, this Option Certificate has been executed on behalf of the Company by a duly authorized officer effective this 13th day of December 2006.



            PACIFICHEALTH LABORATORIES, INC.



            By: /s/ Robert Portman                                                                                     
            Robert Portman, President