Pharmacopeia Drug Discovery, Inc. Non-Qualified Stock Option Agreement with Employee
This agreement grants an employee of Pharmacopeia Drug Discovery, Inc. a non-qualified stock option to purchase company shares under the 2004 Stock Incentive Plan. The option specifies the number of shares, exercise price, and a vesting schedule where 25% vests after one year and the remainder vests monthly over three years. The employee must accept the terms of the plan and agreement to receive the option. The agreement outlines the key terms, including the grant date, vesting, and expiration date.
Exhibit 10.3
STOCK OPTION AGREEMENT
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| Name: |
| «Name» |
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| Address: |
| «Address», «City», «State» «Zip» |
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| Re: |
| Non-Qualified Stock Option Award Notice |
Dear: «First_Name»:
Pursuant to the Pharmacopeia Drug Discovery, Inc. 2004 Stock Incentive Plan (the “Plan”), the Plan’s administrative committee (the “Committee”) granted you a Non-Qualified stock option (“Option”) to purchase shares of common stock as outlined below.
This Option is subject to the applicable terms and conditions of the Plan.
| Granted To: |
| «Name» |
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| Grant Date: |
| «Grant_Date» |
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| Shares Underlying Option: |
| «Shares» |
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| Option Price per Share: |
| «Option_Price» |
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| Vesting Schedule: |
| 25% on the first anniversary of the Grant Date; 1/48th each month thereafter |
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| Expiration Date: |
| «Expiration_Date» |
[Name]
HR Administrator
I hereby acknowledge receipt of the Option granted on the date shown above, which has been issued to me under the terms and conditions of the Plan and this Stock Option Agreement. I also acknowledge receipt of a copy of the Plan and acknowledge and agree that I am bound by the terms and conditions of the Plan and this Stock Option Agreement with respect to the Option.
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