NOTICE OF GRANT OF STOCK OPTION
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EX-10.5 6 v108477_ex10-5.htm
NOTICE OF GRANT OF STOCK OPTION
Notice is hereby given of the following option grant (the “Option”) to purchase shares of the common stock, par value $0.001 per share (the “Common Stock”), of Sionix Corporation, a Nevada corporation (the “Corporation”):
Optionee: | Richard Laton | |
Grant Date: | December 13, 2007 | |
Vesting Commencement Date: | December 13, 2007 | |
Number of Option Shares: | 2,880,000 | |
Expiration Date: | December 13, 2013 | |
Type of Option: | Non-Qualified Stock Option | |
Exercise Price Per Share: | $0.25 | |
Vesting Schedule: | All of the Option Shares are vested as of the Grant Date. |
1. Terms. The Optionee agrees to be bound by the terms of the Option as set forth in the Stock Option Agreement attached hereto as Exhibit A.
2. No Employment or Service Contract. Except as may otherwise be set forth in an a written agreement by and between the Optionee and the Corporation, if any, nothing in this Grant Notice or in the attached Stock Option Agreement shall confer upon the Optionee any right to continue in service in any capacity, including as an employee, for any period of specific duration or interfere with or otherwise restrict in any way the rights of the Corporation or of the Optionee, which rights are hereby expressly reserved by each, to terminate the Optionee’s service and/or employment at any time for any reason, with or without cause.
3. Definitions. All capitalized terms used but not defined herein shall have the definition ascribed to them in the Stock Option Agreement.
[SIGNATURE PAGE FOLLOWS]
IN WITNESS WHEREOF, the Corporation and the Optionee have duly executed this Notice of Grant as of the date set forth below.
Dated: February 21, 2008 | |||
CORPORATION: | |||
SIONIX CORPORATION | |||
By: | /s/ Richard Papalian | ||
Name: | Richard Papalian | ||
Title: | Chief Executive Officer | ||
EXECUTIVE: | |||
/S/ RICHARD LATON | |||
RICHARD LATON |
ATTACHMENTS
Exhibit A – Stock Option Agreement
EXHIBIT A
STOCK OPTION AGREEMENT