This Stock Option Agreement is between a corporation and an option holder for the purchase of stock under an existing stock option plan. This agreement sets out the specifics of the arrangement including the maximum number of shares an optionee can purchase and the price per share of stock. It also includes the earliest date on which the option can be exercised and the expiration date of the option. It is important that this business transaction be memorialized in writing. A written Stock Option Agreement will prove crucial in the event of disagreements or misunderstandings between the parties.

This Stock Option Agreement includes the following provisions:

• Name of Corporation: Sets out the name and address of the corporation issuing the shares and the date of the agreement;
• Purchase Information: Sets forth the name of purchaser, total price and the number of shares purchased;
• Grant of Options: Specifies the number of shares optioned and the purchase price per share;
• Term: Sets forth the earliest purchase date and the expiration date of the option agreement;
• Expiry Event: Sets out the optionee’s options regarding the stock if employee is terminated or voluntary leaves the corporation;
• Class of Shares: Sets out the specific class of the optioned shares (common, preferred, Class A);
• Non-Assignable: This option is not assignable except through a Will or laws of intestacy;
• Signatures: This agreement must be signed by the corporation and the option holder.

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This attorney-prepared packet contains:

1. General Instructions
2. Stock Option Agreement – Long Form

State Law Compliance: This form complies with the laws of all states