Employee Stock Option Grant Agreement between Pernix Group, Inc. and Nidal Z. Zayed
Pernix Group, Inc. granted its President and CEO, Nidal Z. Zayed, 1,000,000 stock options on September 8, 2014. The options vest equally over three years and must be exercised within ten years from the grant date or before the plan expires, whichever comes first. The exercise price will be set at the fair market value on the grant date. This agreement outlines the terms and conditions for the stock option award.
EXHIBIT 10.1
Employee Stock Option Grant
On September 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 award for President and Chief Executive Officer.
· 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: September 8, 2014.
· Exercise Price for Stock Options: To be determined based on fair market value.
· Number of stock options:
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|
|
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| Stock Options |
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| Nidal Z. Zayed, President and CEO |
| - |
| 1,000,000 |
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