EXHIBIT 10.41
FORM OF LCC INTERNATIONAL, INC.
1996 EMPLOYEE STOCK OPTION PLAN
INCENTIVE STOCK OPTION AGREEMENT
FORM OF LCC INTERNATIONAL, INC.
1996 EMPLOYEE STOCK OPTION PLAN
INCENTIVE STOCK OPTION AGREEMENT
TABLE OF CONTENTS
1. GRANT OF OPTION . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1
2. PARACHUTE LIMITATIONS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1
3. TERMS OF PLAN . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2
4. OPTION PRICE . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2
5. VESTING IN OPTIONS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2
6. TERM AND EXERCISE OF OPTION . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3
(a) Term . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3
(b) Option Period and Limitations on Exercise . . . . . . . . . . . . . . . . . . . . . . 3
(c) Limitations on Exercise of Option . . . . . . . . . . . . . . . . . . . . . . . . . . 3
(d) Method of Exercise . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4
7. PUBLICLY TRADED SECURITIES; TERM AND EXERCISE OF
OPTIONS AFTER SECURITIES ARE PUBLICLY TRADED . . . . . . . . . . . . . . . . . . . . . . . 4
(a) Termination of Employment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4
(b) Rights in the Event of Death . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5
(c) Rights in the Event of Disability . . . . . . . . . . . . . . . . . . . . . . . . . . 5
8. TRANSFERABILITY. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5
9. REQUIREMENTS OF LAW . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5
10. EFFECT OF CHANGES IN CAPITALIZATION . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6
(a) Changes in Stock . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6
(b) Reorganization in Which the Corporation Is the Surviving Corporation . . . . . . . . 7
(c) Dissolution, Liquidation, Sale of Assets, Reorganization in Which the
Corporation Is Not the Surviving Corporation, Etc. . . . . . . . . . . . . . . . . . . 7
(d) Adjustments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8
(e) No Limitations on Corporation . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8
11. DISCLAIMER OF RIGHTS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8
12. FORFEITURE OF RIGHTS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8
13. CAPTIONS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9
14. WITHHOLDING OF TAXES . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9
15. SEVERABILITY . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9
16. INTERPRETATION OF THIS STOCK OPTION AGREEMENT . . . . . . . . . . . . . . . . . . . . . . . 9
17. GOVERNING LAW . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9
-i- 18. BINDING EFFECT . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9
19. NOTICE . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10
20. ENTIRE AGREEMENT . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10
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FORM OF LCC INTERNATIONAL, INC.
1996 EMPLOYEE STOCK OPTION PLAN
INCENTIVE STOCK OPTION AGREEMENT
This Stock Option Agreement is made as of __________, 1996, by and between LCC International, Inc., a
Delaware (the "Corporation"), and ________________________, an individual who is employed by Corporation (the "Optionee").
WHEREAS, the Board of Directors of the Corporation has duly adopted and approved the LCC International, Inc. 1996 Employee Stock Option Plan (the "Plan"), subject to approval by the stockholders of the Corporation, which Plan authorizes the Corporation to grant to eligible individuals options for the purchase of shares of the Corporation's Class A Common Stock, par value $.01 per share (the "Stock"); and
WHEREAS, the Corporation has determined that it is desirable and in its best interests to grant to the Optionee, pursuant to the Plan, an option to purchase a certain number of shares of Stock, in order to provide the Optionee with an incentive to advance the interests of the Corporation and any Affiliate thereof;
NOW, THEREFORE, in consideration of the mutual promises and covenants contained herein, the parties hereto do hereby agree as follows:
1. GRANT OF OPTION
Subject to the terms of the Plan (attached hereto as Exhibit A), and to the requisite approval of the Plan by the stockholders of the Corporation, the Corporation hereby grants to the Optionee the right and option (the "Option") to purchase from the Corporation, on the terms and subject to the conditions set forth in the Plan and in this Option Agreement, _____________________ (_______) shares of Stock. This Option shall constitute an incentive stock option within the meaning of Section 422 of the Internal Revenue Code of 1986, as amended (the "Code"). The date of grant of this Option is __________ [__], 1996, the date on which the grant of the Option was approved by the Compensation and Stock Option Committee of the Board of Directors of the Corporation (the "Committee").
2. PARACHUTE LIMITATIONS
Notwithstanding any other provision of this Stock Option Agreement or of any other agreement, contract, or understanding heretofore or hereafter
entered into by the Optionee and Corporation, except an agreement, contract, or understanding hereafter entered into that expressly modifies or excludes application of this Section (the "Other Agreements"), and notwithstanding any formal or informal plan or other arrangement for the direct or indirect compensation of the Optionee (including groups or classes of participants or beneficiaries of which the Optionee is a member), whether or not such compensation is deferred, is in cash, or is in the form of a benefit to or for the Optionee (a "Benefit Arrangement"), the Optionee shall have no right to receive any payment or other benefit under the Plan, if, and to the extent that, such payment or benefit, taking into account all other payments or benefits to or for the Optionee under the Plan, all Other Agreements, and all Benefit Plans, would cause any payment or benefit to the Optionee under this Stock Option Agreement to be considered a "parachute payment" within the meaning of Section 280G(b)(2) of the Code as then in effect (a "Parachute Payment").
3. TERMS OF PLAN
The Option granted pursuant to this Stock Option Agreement is granted subject to the terms and conditions set forth in the Plan. All terms and conditions of the Plan are hereby incorporated into this Stock Option Agreement by reference and shall be deemed to be part of this Stock Option Agreement, without regard to whether such terms and conditions are not otherwise set forth in this Stock Option Agreement. To the extent any capitalized words used in this Stock Option Agreement are not defined, they shall have the definitions stated for them in the Plan. In the event that there is any inconsistency between the provisions of this Stock Option Agreement and of the Plan, the provisions of the Plan shall govern.
4. OPTION PRICE
The purchase price (the "Option Price") for the shares subject to the Option granted by this Stock Option Agreement is $_____ which price is not less than 100 percent of the Fair Market Value of the shares of Stock on the date of grant of this Option.
5. VESTING IN OPTIONS
The Option becomes vested as to _____ percent of the shares purchasable pursuant to the Option on the first anniversary of the date of grant (the first "Anniversary Date"), if Optionee has been providing services to Corporation continuously from the date of grant to the Anniversary Date. Thereafter, so long as continuous service has not been interrupted, the Option becomes vested as to an additional _________ percent of the shares subject to the Option after each of the next ______ Anniversary Dates. Service for this purpose includes service as an employee, director, advisor or consultant providing bona fide services to Corporation or an Affiliate. For purposes of the Stock Option
Agreement, termination of service would not be deemed to occur if the Optionee, after terminating service in one capacity, continues to provide service to Corporation or an Affiliate in another capacity. Termination of service is sometimes also referred to herein as termination of employment or other relationship with Corporation or an Affiliate.
6. TERM AND EXERCISE OF OPTION
(a) TERM
The Option shall terminate and all rights to purchase the shares thereunder shall cease upon the expiration of ten years after the Grant Date.
(b) OPTION PERIOD AND LIMITATIONS ON EXERCISE
The Optionee may exercise the Option (subject to the limitations on exercise set forth in this Stock Option Agreement and in the Plan), to the extent the Option is vested and has not terminated. Any limitation on the exercise of an Option may be rescinded, modified or waived by the Committee, in its sole discretion, at any time and from time to time after the Grant Date of the Option, so as to accelerate the time at which the Option may be exercised. The time at which the Option may be exercised will be accelerated and the Option shall be exercisable, in whole or in part, at any time and from time to time prior to termination of the Option after termination of employment by reason of death of Optionee or "permanent and total disability" (within the meaning of Section ...