Regal-Beloit Corporation Stock Option Grant Agreement for Key Employee
Contract Categories:
Business Finance
›
Warrant Agreements
Summary
This agreement is between Regal-Beloit Corporation and a key employee, granting the employee a non-qualified stock option to purchase a specified number of shares of the company's common stock at a set price. The option vests in equal annual installments starting two years after the grant date and must be exercised within ten years or within thirty days of employment ending, unless terminated for cause. Payment for shares can be made in cash, company stock, or a combination. The agreement is governed by the company's 2003 Equity Incentive Plan.
EX-10.9 2 ex10_9.htm EXHIBIT 10.9 Exhibit 10.9
EXHIBIT 10.9
REGAL-BELOIT CORPORATION
AGREEMENT FOR STOCK OPTION GRANT
Date of Grant:
Expiration of Grant:
Employee:
GRANT OF OPTION
Pursuant to Section 9 of the REGAL-BELOIT CORPORATION 2003 Equity Incentive Plan, as approved on April 22, 2003, REGAL-BELOIT (the “Company”) has granted to ______________________ (the “Grantee”), a key employee of the Company, a Non-qualified Stock Option to purchase from the Company _____________ shares of $.01 par value common stock upon the terms and conditions set forth (the Grant).
The option price per share is ________, which is equal to the fair market value closing stock price on ___________________, as reported by the New York Stock Exchange. These shares may be paid for in cash, in shares of REGAL-BELOIT Common Stock, or in any combination thereof.
The right to exercise this Grant does not become available until two (2) years from the date of this Grant or ____________________. The Grant shall vest in _________ equal annual installments, specifically ________________________.
The Grant shall terminate the earlier of ten (10) years after the date of Grant or thirty (30) days after the Grantee ceases to be an employee of the Company, unless terminated for Cause as provided in Section 20 of the 2003 Stock Option Plan.
Dated this _ day of _____________________ 2005.
REGAL-BELOIT CORPORATION
By: __________________________
President/Chief Executive Officer
Confirmed:
By: _________________________
Date: ________________________
Page 63 of 83
