Amendment to Director Stock Option Agreement for Timothy Redpath (December 3, 2008)

Contract Categories: Business Finance › Warrant Agreements
Summary

This document amends the terms of a non-qualified stock option previously granted to Timothy Redpath, a director. The amendment confirms the vesting of 24,611 shares before December 3, 2008, and an additional 49,222 shares on December 3, 2008, for a total of 73,833 shares at an exercise price of $0.01625 per share. Timothy Redpath has agreed to the amended terms by signing the document.

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EX-10.8 9 tramendfordiroptions.htm REDPATH AMENDMENT FOR DIRECTOR OPTIONS tramendfordiroptions.htm
 
 
 

EXHIBIT 1
 
DIRECTOR OPTION TERMS (amended December 3, 2008)
 
Name of Grantee:                                                                Timothy Redpath
 
Date of Grant:                                                                January 1, 2006
 
Number of Shares Granted:                                                                           73,833
 
Exercise Price:                                                      $0.01625
 
Type of Option
(Qualified or Non-Qualified):                                                                           Non-Qualified

Vesting:                                                      24,611 shares have vested prior to December 3, 2008
 
 
49,222 shares have vested on December 3, 2008
 

 

 
Amendment of Option Terms agreed to by Grantee:
 

 
___/s/ Timothy Redpath_________________
 
Print Name: Timothy Redpath