Nonqualified Stock Option Award Agreement between Worthington Industries, Inc. and Optionee (2006 EI Plan)
Worthington Industries, Inc. grants the optionee a nonqualified stock option to purchase a specified number of company shares at a set price per share under the 2006 EI Plan. The agreement outlines the vesting schedule, expiration date, and total option price. Both parties agree that the grant is subject to the terms of the company's stock option plan and the attached agreement. The optionee must sign to accept the terms. This agreement sets out the key details for the optionee’s right to buy company stock within the specified timeframe.
Exhibit 10.17
| Notice of Grant of Stock Options | Worthington Industries, Inc. | |||
| and Option Agreement | ID: xx-xxxxxxx | |||
| 200 Old Wilson Bridge Road | ||||
| Columbus, OH 43085 | ||||
| [OPTIONEE NAME] | Option Number: | XXXXXXX | ||||
| [OPTIONEE ADDRESS] | Plan: | 2006 | ||||
| [OPTIONEE CITY, STATE ZIP] | ID: | SSN# | ||||
Effective XX/XX/20XX, you have been granted a(n) Non-Qualified Stock Option to buy X,XXX shares of Worthington Industries, Inc. (the Company) stock at $XX.XX per share.
The total option price of the shares granted is $XX,XXX.XX
Shares in each period will become fully vested on the date shown.
| Shares | Vest Type | Full Vest | Expiration | |||||||
| X,000 | On Vest Date | XX/XX/20XX | XX/XX/20XX |
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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| [SIGNATURE OF OPTIONEE] | Date | |||
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