April ___, 2001









EXHIBIT 10.18




 




April 20, 2001




 




Sandra Poole-Christal




107 Talavera #715




San Antonio, Texas  78232




 




Dear Sandy:




 




On behalf of GLOBALSCAPE, INC. a Delaware Corporation

(the “Company”), I am pleased to announce that the Company’s Board of

Directors, operating under the GLOBALSCAPE, INC. 1998 Stock Option Plan (the

“Plan”), on January 1, 1998 awarded you (the “Employee” or the “Optionee”) an

incentive stock option (the “Option”) to purchase Eight Hundred Eight Thousand

and Five Hundred Seventy One 808,571 shares of $0.001 par value common stock of

GLOBALSCAPE, INC. (the “Shares”).  The

Option to acquire the shares is awarded and granted upon the following terms

and conditions as well as those terms, conditions, and limitations as set forth

in the Plan, which is incorporated herein for all purposes.




 




1.  The

Exercise Price for each share of common stock is $0.0132 per Share.




 




2.  The Option

is vested effective February 1, 2001.




 




3.  Subject to

Paragraphs 5 and 9 herein, the Option may be exercised at any time on or before

April 20, 2011  (the “Expiration Date”). 

No partial exercise of such Option may be for less than 100 full

shares.  In no event shall the Company

be required to transfer fractional shares to the Employee.




 




4.  Optionee

may exercise the Option from time to time, to the extent then exercisable, upon

the following terms:




 




(a)  Optionee

shall deliver written notice to the Secretary of the Company at the Company’s

principal corporate offices, specifying the number of Shares which Optionee is

purchasing hereunder and the method of payment for such shares.  Such notice shall be accompanied by the

original of this Option so that an appropriate endorsement can be made hereto

to reflect the Shares so purchased and to reduce accordingly the number of

Shares thereafter to be subject to the terms hereof.  If required by the Company, such notice shall also be accompanied

by such other instruments or agreements duly signed by




 




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Optionee as deemed necessary or advisable by counsel for the Company in

order that the issuance of the Shares complies with applicable federal and

state securities laws and regulations and applicable requirements of any

national securities exchange or other market on which the common stock may then

be traded.




 




(b)  The

Exercise Price for the number of Shares being purchased shall be payable upon

exercise as follows:  (i) by delivery of

a cashier’s check payable to the Company or such other form of immediate funds

as the Company shall permit, (ii)  if

there is an established public market for the common stock, by delivery of

certificates representing shares of common stock having an equivalent Fair

Market Value (as defined in the Plan), (iii) if there is an established public

market for the common stock, by arranging with the Company and Optionee’s

broker to deliver the Exercise Price for the number of Shares being purchased

from the concurrent market sale of the purchased shares, or (iv) a combination

of any of the foregoing.




 




(c)  Upon the

valid exercise of the Option in accordance with the terms hereof, the Company

shall deliver to Optionee a certificate representing the number of whole Shares

purchased, bearing any legends as may be deemed necessary or advisable by

counsel to the Company to satisfy applicable securities laws or regulations;  provided, however, that if any law or

regulation requires the Company to take any action with respect to such Shares

before the issuance thereof, then the sale, issuance and delivery of such

shares shall be deferred for the period necessary to take such action.  Optionee hereby represents and agrees that,

unless the Shares issued upon exercise of the Option are duly registered under

applicable securities laws, the purchase by Optionee of such shares shall be

solely for investment purposes and not with a view to the distribution thereof.




 




(d)  Optionee’s

federal withholding tax (if any) due upon exercise of the Option shall be

satisfied in cash by Optionee at the time of exercise or, if permitted by the

Board of Directors or its designee(s) through the retention by the Company from

the shares purchased the number of shares of common stock having a Fair Market

Value equal to the required withholding tax.




 




The Company does not attempt to advise you on tax or other consequences

arising from your acquisition of the common stock through the exercise of the

Option.  For the specific tax consequences to

you, please consult with your tax advisor.




 




5.  Subject to

the limitations imposed pursuant to Section 4.(B) of the Plan, the Option shall

remain exercisable until the Expiration Date, except that:




 




(a)  If

Optionee voluntarily terminates Optionee’s employment with Company at any time

without the consent of the Company or if Optionee’s employment is terminated by

the Company for cause (of which the Board of Directors or its designee(s), in

both cases, shall be the sole judge), then the Option may be exercised only

during the three month period following such termination to the extent

exercisable immediately prior to such termination, but in no event later than

the Expiration Date.




 




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(b)  If (i)

Optionee voluntarily terminates Optionee’s employment with the Company with the

Company’s consent, (ii) Optionee’s employment with the Company is terminated by

the Company without cause, or (iii) Optionee’s employment is terminated by

reason of Optionee’s “permanent and total disability” within the meaning of

section 22(e)3) of the Internal Revenue Code (of which the Board of Directors

or its designee(s) in each such three cases, shall be the sole judge), then the

Option may be exercised only during the three month period following such

termination to the extent exercisable immediately prior to such termination,

but in no event later than the Expiration Date.




 




(c)  if (i)

Optionee dies during Optionee’s employment with  the Company or (ii) Optionee dies during the three month period

under the conditions set for the in paragraph 6(b) immediately above (during

which the  Optionee was entitled to

exercise the Option), then the Option may be exercised only during the one-year

period following Optionee’s death, but in no event later than the Expiration

Date, by the persons to whom Optionee’s rights under the Option shall pass by

Optionee’s will or the laws of descent and distribution, as applicable.




 




Notwithstanding the above, the Employee’s rights to

the options which have not been exercised, and all rights granted by this

agreement shall in all events terminate and become null and void if the

Employee is employed either as an employee or consultant by any company, joint

venture, partnership or individual which the Board of Directors or its

designee(s) determines, in its sole discretion, in competition with the

Company.




 




6.  During the

lifetime of the Employee, the Option and all rights granted in this agreement

shall be exercisable only by the Employee, and except as Paragraph 5 otherwise

provides, the Option and all rights granted under the agreement shall not be

transferred, assigned, pledged or hypothecated in any way (whether by operation

of law or otherwise), and shall not be subject to execution, attachment or

similar process.  Upon any attempt to

transfer, assign, pledge, hypothecate or otherwise dispose of such Option or of

such rights contrary to the provisions in this agreement, or upon the levy of

any attachment or similar process upon such Option or such rights, such Option

and such rights shall immediately become null and void.




 




7.  In the

event of any change in the common shares of the Company subject to the Option

granted hereunder, through merger, consolidation, reorganization,

recapitalization, stock split, stock dividend or other change in the corporate

structure, without consideration, appropriate adjustment shall be made by the

Company in the number and kind of shares subject to such Option and the price

per share.  Upon the dissolution or

liquidation of the Company, the Option granted under this agreement shall

terminate and become null and void, but the Employee shall have the right

immediately prior to such dissolution or liquidation to exercise the Option

granted hereunder to the full extent not before exercised.




 




8.  Neither the

Employee nor his/her execuctor, administrator, heirs or legatees shall be or

have any rights or privileges of a shareholder of the Company in respect of the

shares transferable upon exercise of the Option granted under this agreement,

unless and 




 




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until certificates representing such shares shall have been endorsed,

transferred and delivered and the transferee has caused his/her name to be

entered as the shareholder of record on the books of the Company.  Nothing contained in the Plan or this Option

shall confer upon the Employee any right to continue in the employ of the

Company or any of its subsidiaries or interfere in any way with the right of

the Company (subject to the terms of any separate agreement to the contrary) to

terminate the Employee’s employment or to increase or decrease the Employee’s

compensation at any time.




 




9.  The terms and

conditions of the Plan, unless expressly supplemented by this Agreement, shall

continue unchanged and in full force and effect.  To the extent that any terms or provision of the Option are or

may be deemed expressly inconsistent with any terms or conditions of the Plan,

the terms of this agreement shall control. 

To the extent that any terms or provisions of the Option are or may be

deemed expressly inconsistent with any terms of conditions of any separate

employment contract, if any, signed by the Company and  Optionee, the terms of the employment

contract shall control.




 




10.  The

Employee hereby agrees to take whatever additional actions and execute whatever

additional documents the Company may in its reasonable judgment deem necessary

or advisable in order to carry out or effect one or more of the obligations or

restrictions imposed on the Employee pursuant to the express provisions of this

Option.




 




11.  The rights

of the Employee are subject to modifications and termination in certain events

as provided in this Option and the Plan.




 




12.  This

agreement shall be governed by, and construed in accordance with, the

substantive laws of the State of Texas applicable to contracts made and to be

wholly performed therein.




 




13.  This

Option may be executed in one or more counterparts, each of which shall be

deemed to be an original, but all of which together shall constitute one and

the same instrument.




 




14.  This

Option and the Plan shall constitute the entire agreement between the parties

with respect to the subject matter hereof, and supercedes all previously

written or oral negotiations, commitments, representations and agreements with

respect thereto.




 




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If the foregoing represents your understanding of the

terms and conditions upon which your options have been granted, please execute

in the space provided below, returning an executed copy to the undersigned.




 




	

  GlobalSCAPE, Inc.


  	

  AGREED:


  
	

   


  	

   


  
	

  /s/ Tim Nicolaou


  	

   


  	

   


  
	

  Tim Nicolaou


  	

  /s/ Sandra Poole-Christal


  	

   


  
	

  Chief Executive Officer


  	

  Sandra Poole-Christal


  
				





 




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