Pernix Group, Inc. Employee Stock Option Grant Agreement (February 8, 2013)
Pernix Group, Inc. granted a total of 347,500 stock options to certain employees and key executives on February 8, 2013, 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 is set at the fair market value of the stock on the grant date. Key executives, including the President and CEO, received specific allocations of options under these terms.
EXHIBIT 10.1
Employee Stock Option Grants
On February 8, 2013, as approved by the Compensation Committee of the Pernix Group, Inc. Board of Directors, 347,500 employee stock options were awarded to certain employees and key executives, bringing the total options awarded and outstanding under the plan to 500,000 as of the date of this filing. Awards to key executives were made 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, 2013.
· Exercise Price per Stock Option: Fair market value of a share of Pernix Group, Inc. common stock as of the grant date, to be determined by third party appraisal.
· Number of stock options:
|
|
| Stock Options |
|
| Nidal Z. Zayed, President and CEO | - | 120,000 |
|
|
|
|
|
|
| Jim Rice, Vice President — Construction | - | 65,000 |
|
|
|
|
|
|
| Gregg D. Pollack, Vice President - Administration and Chief Financial Officer | - | 50,000 |
|
|
|
|
|
|
| Carol J. Groeber - Corporate Controller and Principal Accounting Officer | - | 35,000 |
|
