Attached files
file | filename |
---|---|
8-K - COMPOSITE TECHNOLOGY CORP | v196490_8k.htm |
EX-99.1 - COMPOSITE TECHNOLOGY CORP | v196490_ex99-1.htm |
EX-10.03 - COMPOSITE TECHNOLOGY CORP | v196490_ex10-03.htm |
EX-10.01 - COMPOSITE TECHNOLOGY CORP | v196490_ex10-01.htm |
EX-10.04 - COMPOSITE TECHNOLOGY CORP | v196490_ex10-04.htm |
COMPOSITE
TECHNOLOGY CORPORATION
STOCK
OPTION GRANT NOTICE
2008
STOCK INCENTIVE PLAN
Composite
Technology Corporation (“Company”), pursuant to its 2008 Stock Option (“Plan”)
and the 2008 Stock Option Plan Stock Option Agreement (“Master Agreement”)
previously entered into by the parties, hereby grants to the “Optionholder”
identified below an option to purchase the number of shares of the Company’s
common stock (“Shares”) set forth below. This option is subject to
all of the terms and conditions set forth in this Stock Option Grant Notice (the
“Grant Notice”), the Master Agreement and the Plan, all of which are
incorporated herein in their entirety. Any capitalized terms not
defined herein shall have the meaning provided to such terms in the
Plan.
Optionholder:
|
Dennis
Clarke Carey
|
Option
Grant #:
|
***
|
Date
of Grant (Vesting Start Date):
|
September
8, 2010
|
Number
of Shares Subject to Option:
|
500,000
|
Exercise
Price (Per Share):
|
US
$ 0.35
|
Total
Exercise Price:
|
US
$ 175,000.00
|
Expiration
Date:
|
September
8, 2020
|
Type of
Grant [check one]: o Incentive
Stock Option1
x Nonstatutory
Stock Option
Vesting
Schedule:
Portion
Vesting
|
#
of whole Months since vesting start date
|
%
of Option Grant Vesting
|
Accumulated
% of Option Grant vesting
|
1st
Portion
|
3
|
8.3%
|
8.3%
|
2nd
Portion
|
6
|
8.3%
|
16.6%
|
3rd
Portion
|
9
|
8.3%
|
24.9%
|
4th
Portion
|
12
|
8.3%
|
33.2%
|
5th
Portion
|
15
|
8.3%
|
41.5%
|
6th
Portion
|
18
|
8.3%
|
49.8%
|
7th
Portion
|
21
|
8.3%
|
58.1%
|
8th
Portion
|
24
|
8.3%
|
66.4%
|
9th
Portion
|
27
|
8.3%
|
74.7%
|
10th
Portion
|
30
|
8.3%
|
83%
|
11th
Portion
|
33
|
8.3%
|
91.3%
|
12th
Portion
|
36
|
8.7%
|
100%
|
Payment:
|
By
cash or check
|
|
Same
day sale program (if permitted by the
Board)
|
|
Tender
of Common Stock (if permitted by the
Board)
|
1
Additional
Terms/Acknowledgements: The undersigned Optionholder acknowledges
receipt of, and understands and agrees that his or her Option is subject to this
Grant Notice, the Master Agreement and the Plan. Optionholder further
acknowledges that as of the Date of Grant, this Grant Notice, the Master
Agreement and the Plan set forth the entire understanding between Optionholder
and the Company regarding the acquisition of Shares covered by this Grant Notice
and supersedes all prior oral and written agreements on that subject with the
exception of (i) options previously granted and delivered to Optionholder under
the 2002 Stock Incentive Plan, and (ii) the agreements, if any, listed
below. To the extent that this Grant Notice varies the terms of the
Master Agreement, this Grant Notice will prevail only with respect to Options
granted pursuant to this Grant Notice.
______________
1 If this is an
incentive stock option, it (plus Optionholder’s other outstanding incentive
stock options) cannot be first exercisable for more than US $100,000 in any
calendar year. Any excess over US $100,000 is a non-statutory stock
option.
COMPOSITE TECHNOLOGY CORPORATION | OPTIONEE: | ||||
By: | Benton H Wilcoxon | By: | Dennis Clarke Carey | ||
Title: |
Chief
Executive Officer
|
|
|||
Date: |
___________________,
2010
|
Date: |
___________________,
2010
|
By his or
her signature below, the spouse of the Optionee acknowledges that he or she has
read the Agreement and is familiar with the terms and provisions thereof, and
agrees to be bound by all the terms and conditions of said
Agreement.
Spouse of Optionee (if applicable) | By: | |||
|
||||
Date: |
___________________,
2010
|
*** This
material has been omitted pursuant to a request for confidential treatment and
filed separately with the Securities and Exchange Commission.
2