Stock Option Award Agreement- IBM |
$35.00 |
| This is the form of Employee Stock Option Agreement for IBM.
Format: |
Microsoft Word
| Purpose | The purpose of this grant is to retain selected executives and employees whose skills and talents are important to IBM’s operations and to align their interests with those of IBM’s stockholders. You recognize that these options represent a potentially significant benefit to you and are granted for the purposes stated here. |
| Grant | Date of Grant: [Month, Date, Year] |
| Exercise Price: $XX | |
| Number of Nonqualified Options Granted: XX |
| Vesting and Term | Options become exercisable in 4 equal installments on the first 4 anniversaries of the Date of Grant. |
| Options expire 10 years from the Date of Grant, subject to earlier termination under Sections 12 and 13 of the Plan and as set forth below. |
| Death, Disability,Termination of Employment | Death or Disability: |
| In the event of your death, all Options shall become fully exercisable and remain exercisable for their full term. | |
| In the event you become disabled (as described in Section 12 of the Plan), while employed by the Company, any unvested Options shall continue to vest and be exercisable as if you were an active employee of the Company. | |
| Termination of Employment | |
| If your employment terminates for any reason (other than for cause): |
| any Options that are not exercisable as of the date your employment terminates shall be canceled immediately, and | ||
| any Options that are exercisable as of the date your employment terminates (other than for cause) will remain exercisable for 90 days after the date of termination, after which any unexercised Options are canceled; provided, however, if you are a banded executive when your employment with the Company terminates (other than for cause) after you have attained age 55 and completed at least 15 years of service with the Company at the time of termination, any Options that are exercisable as of the date your employment terminates shall remain exercisable for the full term as set forth above. |
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