Pernix Group, Inc. Employee Stock Option Grant Agreement (February 2014)
Pernix Group, Inc. granted stock options to its executive officers and key executives on February 8, 2014, as approved by its Compensation Committee. The options vest equally over three years and expire either with the plan or 10 years from the grant date, whichever is sooner. The exercise price will be set at fair market value. Recipients include the President and CEO, Senior Vice President—Construction, Vice President—Power, Vice President—Administration and CFO, and the Corporate Controller.
EXHIBIT 10.1
Employee Stock Option Grants
On February 8, 2014, as approved by the Compensation Committee of the Pernix Group, Inc. Board of Directors, employee stock option grants were awarded in the amount and upon the terms and conditions set forth below.
General Terms of Grant:
· Form of grant: Stock option awards for executive officers and key executives.
· Term and vesting of stock options: The stock option grants vest equally over a 3 year period and are coterminous with the expiration date of the plan or 10 years from the date of the grant, whichever occurs sooner.
· Grant date: February 8, 2014.
· Exercise Price for Stock Options: To be determined based on fair market value.
· Number of stock options:
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| Stock Options |
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| Nidal Z. Zayed, President and CEO |
| - |
| 90,000 |
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| Warren Bryant, Senior Vice President — Construction |
| - |
| 25,000 |
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| Mike Frye, Vice President — Power |
| - |
| 25,000 |
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| Gregg D. Pollack, Vice President - Administration and Chief Financial Officer |
| - |
| 20,000 |
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| Carol J. Groeber - Corporate Controller and Principal Accounting Officer |
| - |
| 20,000 |
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