This non-employee director option agreement grants the optionee (the non-employee director) a non-qualified stock option under the company's non-employee director stock option plan. The option allows optionee to purchase shares of the company's common stock up to the number of shares listed in the agreement.
Nebraska Non Employee Director Stock Option Agreement
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Multi-State
Control #:
US-TC0913
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How to fill out Non Employee Director Stock Option Agreement?
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FAQ
A stock option provides an employee with the opportunity to purchase a set number of shares of company stock at a certain price within a certain period of time. The price is called the ?grant price? or ?strike price.? This price is usually based on a discounted price of the stock at the time of hire.
The stock options plan is drafted by the company's board of directors and contains details of the grantee's rights. The options agreement will provide the key details of your option grant such as the vesting schedule, how the ESOs will vest, shares represented by the grant, and the strike price.
Some companies choose to offer stock options to independent contractors or consultants as a form of compensation. In these circumstances, the contractor or consultant has the opportunity to own company shares.
Qualified stock options, also known as incentive stock options, can only be granted to employees. Non-qualified stock options can be granted to employees, directors, contractors and others. This gives you greater flexibility to recognize the contributions of non-employees.
Holders of share purchase rights may or may not buy an agreed number of shares of stock at a pre-determined price, but only if they are an existing stockholder. Options, on the other hand, are the right to buy or sell stocks at a pre-set price called the strike price.