Quidel Corporation Non-Employee Director Stock Option Agreement (2001 Plan)
This agreement is between Quidel Corporation and a non-employee director, granting the director a non-qualified stock option to purchase company shares at a specified price under the 2001 Stock Option Plan. The agreement outlines the number of shares, vesting schedule, and exercise period. Once vested, the options remain exercisable for their full term, even if the director leaves the board. Both parties agree to the terms by signing the agreement.
Exhibit 10.2
Form of Non-Employee Director Stock Option Agreement
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| QUIDEL CORPORATION |
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| ID: 94 ###-###-#### |
| Notice of Grant of Stock Options |
| 10165 McKellar Court |
| and Option Agreement |
| San Diego, CA 92121 |
| [Recipient] |
| Option Number: | |
| [Address] |
| Plan: | 2001 |
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| ID: | |
Effective , you have been granted a(n) Non-Qualified Stock Option to buy shares of QUIDEL CORPORATION (the “Company”) stock at $ per share.
The total option price of the shares granted is $ .
Shares in each period will become fully vested on the date shown. Once vested, the stock options granted hereunder will remain exercisable until expiration of the full term of such options, notwithstanding any termination of service on the Company’s board of directors.
| Shares |
| Vest Type |
| Full Vest |
| Expiration |
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| On Vest Date |
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By your signature and the Company's signature below, you and the Company agree that these options are granted under and governed by the terms and conditions of the Company's Stock Option Plan as amended and the Option Agreement, all of which are attached and made a part of this document.
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| QUIDEL CORPORATION |
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| Date |
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| Thomas Brown |
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| Date |
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| Date: | 5/23/2006 |
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| Time: | 10:21:11AM |
