Document:

Exhibit 10.2

Optium Corporation

Employee Notice of
Grant of Stock Option

                          
(the “Optionee”) has been granted an
option (the “Option”) to purchase certain
shares of Optium Corporation common stock
(the “Stock”) pursuant to the Optium
Corporation 2006 Stock Option and Incentive Plan, as amended (the “Plan”), as follows:

	
            Grant Date:

  
	
   

  
	
            Number
  of Option Shares:

  
	
   

  
	
            Option
  Exercise Price per Share:

  
	
   

  
	
            Expiration
  Date:

  
	
   

  
	
            Tax
  Status of Option:

  

 

Vested
Shares:  Except as
provided in Stock Option Agreement, and provided that the Optionee’s employment
by the Company or any of its subsidiaries has not terminated prior to any
applicable date set forth below, the number of Option Shares indicated as
vested Option Shares as of each date set forth below shall be: 

	
  

  	
  Vesting Date

  	
   

  	
   

  	
  Vested Option Shares

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  

 

By their signatures below, the Company and the
Optionee agree that the Option is governed by this Notice and by the provisions
of the Plan and the Non-Qualified Stock Option Option Agreement, both of which
are attached to and made a part of this document.  The Optionee acknowledges receipt of a copy of
the Plan and the Option Agreement, represents that the Optionee has read and is
familiar with their provisions, and hereby accepts the Option subject to all of
their terms and conditions.  In the event
that there is a conflict between the Option Agreement and this Notice, the
terms of Option Agreement shall govern. 
This Notice may be executed in two or more counterparts, each of which
shall be deemed an original, but all of which shall constitute one and the same
document.

	
  OPTIUM CORPORATION

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  By:

  	
   

  	
   

  	
  By:

  	
   

  
	
   

  	
  Name:

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Title:

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Address:

  	
  500 Horizon Drive, Suite 505 

  Chalfont, PA 18914

  	
   

  	
   

  	
  Address:

  

 

ATTACHMENTS:  Optium
Corporation 2006 Stock Option and Incentive Plan, as amended through the Grant
Date, and the Stock Option AgreementExhibit 10.3

INCENTIVE STOCK OPTION AGREEMENT

UNDER THE OPTIUM CORPORATION

2006 STOCK OPTION AND INCENTIVE PLAN

Pursuant to the Optium Corporation 2006 Stock Option
and Incentive Plan as amended through the date hereof (the “Plan”), Optium
Corporation (the “Company”) hereby grants to the Optionee named in the
applicable Grant Notice an option (the “Stock Option”) to purchase on or prior
to the Expiration Date specified above all or part of the number of shares of
Common Stock, par value $0.0001 per share, of the Company (the “Stock”)
specified in the Grant Notice at the Option Exercise Price per Share specified
in the applicable Grant Notice subject to the terms and conditions set forth
herein and in the Plan.

1.             Exercisability
Schedule.  No portion of this Stock
Option may be exercised until such portion shall have become exercisable.  Except as set forth below, and subject to the
discretion of the Committee (as defined in Section 2 of the Plan) to
accelerate the exercisability schedule hereunder, this Stock Option shall be
exercisable with respect to the number of Option Shares indicated as vested
Option Shares on the dates as set forth on the applicable Grant Notice.  Once exercisable, this Stock Option shall
continue to be exercisable at any time or times prior to the close of business
on the Expiration Date set forth in the applicable Grant Notice, subject to the
provisions hereof and of the Plan.

2.             Manner
of Exercise.

(a)           The Optionee may exercise this Stock
Option only in the following manner: 
from time to time on or prior to the Expiration Date of this Stock
Option, the Optionee may give written notice to the Committee of his or her
election to purchase some or all of the Option Shares purchasable at the time
of such notice.  This notice shall
specify the number of Option Shares to be purchased.

Payment of the purchase price for the Option Shares
may be made by one or more of the following methods:  (i) in cash, by certified or bank check
or other instrument acceptable to the Committee; (ii) through the delivery
(or attestation to the ownership) of shares of Stock that have been purchased
by the Optionee on the open market or that are beneficially owned by the
Optionee and are not then subject to any restrictions under any Company plan
and that otherwise satisfy any holding periods as may be required by the
Committee; (iii) by the Optionee delivering to the Company a properly
executed exercise notice together with irrevocable instructions to a broker to
promptly deliver to the Company cash or a check payable and acceptable to the
Company to pay the option purchase price, provided that in the event the
Optionee chooses to pay the option purchase price as so provided, the Optionee
and the broker shall comply with such procedures and enter into such agreements
of indemnity and other agreements as the Committee shall prescribe as a
condition of such payment procedure; or (iv) a combination of (i), (ii)
and (iii) above.  The Optionee may also
exercise pursuant to a paperless method if the Company establishes, for itself
or using the services of a third party, an automated system, such as a system
using an internet website or interactive voice response.  Payment instruments will be received subject
to collection.

 

The transfer to the Optionee on the records of the
Company or of the transfer agent of the Option Shares will be contingent upon
the Company’s receipt from the Optionee of full payment for the Option Shares,
as set forth above and any agreement, statement or other evidence that the
Company may require to satisfy itself that the issuance of Stock to be
purchased pursuant to the exercise of Stock Options under the Plan and any
subsequent resale of the shares of Stock will be in compliance with applicable
laws and regulations.  In the event the
Optionee chooses to pay the purchase price by previously-owned shares of Stock
through the attestation method, the number of shares of Stock transferred to
the Optionee upon the exercise of the Stock Option shall be net of the shares
attested to.

(b)           The shares of Stock purchased upon
exercise of this Stock Option shall be transferred to the Optionee on the
records of the Company or of the transfer agent upon compliance to the
satisfaction of the Committee with all requirements under applicable laws or
regulations in connection with such issuance and with the requirements hereof
and of the Plan.  The determination of
the Committee as to such compliance shall be final and binding on the
Optionee.  The Optionee shall not be
deemed to be the holder of, or to have any of the rights of a holder with
respect to, any shares of Stock subject to this Stock Option unless and until
this Stock Option shall have been exercised pursuant to the terms hereof, the
Company or the transfer agent shall have transferred the shares to the Optionee,
and the Optionee’s name shall have been entered as the stockholder of record on
the books of the Company.  Thereupon, the
Optionee shall have full voting, dividend and other ownership rights with
respect to such shares of Stock.

(c)           The minimum number of shares with
respect to which this Stock Option may be exercised at any one time shall be
100 shares, unless the number of shares with respect to which this Stock Option
is being exercised is the total number of shares subject to exercise under this
Stock Option at the time.

(d)           Notwithstanding any other provision
hereof or of the Plan, no portion of this Stock Option shall be exercisable
after the Expiration Date hereof.

3.             Termination
of Employment.  If the Optionee’s
employment by the Company or a Subsidiary (as defined in the Plan) is
terminated, the period within which to exercise the Stock Option may be subject
to earlier termination as set forth below.

(a)           Termination Due to Death.  If the Optionee’s employment terminates by
reason of the Optionee’s death, any portion of this Stock Option outstanding on
such date shall become fully exercisable and may thereafter be exercised by the
Optionee’s legal representative or legatee for a period of 12 months from the
date of death or until the Expiration Date, if earlier.

(b)           Termination Due to Disability.  If the Optionee’s employment terminates by
reason of the Optionee’s disability (as determined by the Committee), any
portion of this Stock Option outstanding on such date shall become fully
exercisable and may thereafter be exercised by the Optionee for a period of 12
months from the date of termination or until the Expiration Date, if
earlier.  The death of the Optionee
during the 12-month period provided in this Section 3(b) shall extend such
period for another 12 months from the date of death or until the Expiration
Date, if earlier.

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(c)           Termination for Cause.  If the Optionee’s employment terminates for
Cause, any portion of this Stock Option outstanding on such date shall
terminate immediately and be of no further force and effect.  For purposes hereof, “Cause” shall mean a
determination by the Company that the
Optionee shall be dismissed as a result of (i) any material breach by the
Optionee of any agreement between the Optionee and the Company; (ii) the
conviction of, indictment for or plea of nolo contendere by the Optionee to a
felony or a crime involving moral turpitude; or (iii) any material misconduct
or willful and deliberate non-performance (other than by reason of disability)
by the Optionee of the Optionee’s duties to the Company.

(d)           Other Termination.  If the Optionee’s employment terminates for
any reason other than the Optionee’s death, the Optionee’s disability, or
Cause, and unless otherwise determined by the Committee, any portion of this
Stock Option outstanding on such date may be exercised, to the extent
exercisable on the date of termination, for a period of ninety days from the
date of termination or until the Expiration Date, if earlier.  Any portion of this Stock Option that is not
exercisable on the date of termination shall terminate immediately and be of no
further force or effect.

The Committee’s determination of the reason for
termination of the Optionee’s employment shall be conclusive and binding on the
Optionee and his or her representatives or legatees.

4.             Incorporation
of Plan.  Notwithstanding anything
herein to the contrary, this Stock Option shall be subject to and governed by
all the terms and conditions of the Plan, including the powers of the Committee
set forth in Section 2(b) of the Plan. 
Capitalized terms in this Agreement shall have the meaning specified in
the Plan, unless a different meaning is specified herein.

5.             Transferability.  This Agreement is personal to the Optionee,
is non-assignable and is not transferable in any manner, by operation of law or
otherwise, other than by will or the laws of descent and distribution.  This Stock Option is exercisable, during the
Optionee’s lifetime, only by the Optionee, and thereafter, only by the Optionee’s
legal representative or legatee.

6.             Status
of the Stock Option.  This Stock
Option is intended to qualify as an “incentive stock option” under Section 422
of the Internal Revenue Code of 1986, as amended (the “Code”), but the Company
does not represent or warrant that this Stock Option qualifies as such.  The Optionee should consult with his or her
own tax advisors regarding the tax effects of this Stock Option and the
requirements necessary to obtain favorable income tax treatment under
Section 422 of the Code, including, but not limited to, holding period
requirements.  To the extent any portion
of this Stock Option does not so qualify as an “incentive stock option,” such
portion shall be deemed to be a non-qualified stock option.  If the Optionee intends to dispose or does
dispose (whether by sale, gift, transfer or otherwise) of any Option Shares
within the one-year period beginning on the date after the transfer of such
shares to him or her, or within the two-year period beginning on the day after
the grant of this Stock Option, he or she will so notify the Company within 30
days after such disposition.

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7.             Tax
Withholding.  The Optionee shall, not
later than the date as of which the exercise of this Stock Option becomes a
taxable event for Federal income tax purposes, pay to the Company or make
arrangements satisfactory to the Committee for payment of any Federal, state,
and local taxes required by law to be withheld on account of such taxable
event.  The Optionee may elect to have
the minimum required tax withholding obligation satisfied, in whole or in part,
by (i) authorizing the Company to withhold from shares of Stock to be issued,
or (ii) transferring to the Company, a number of shares of Stock with an
aggregate Fair Market Value that would satisfy the withholding amount due.

8.             No
Obligation to Continue Employment. 
Neither the Company nor any Subsidiary is obligated by or as a result of
the Plan or this Agreement to continue the Optionee in employment and neither
the Plan nor this Agreement shall interfere in any way with the right of the
Company or any Subsidiary to terminate the employment of the Optionee at any
time.

9.             Notices.  Notices hereunder shall be mailed or
delivered to the Company at its principal place of business and shall be mailed
or delivered to the Optionee at the address on file with the Company or, in
either case, at such other address as one party may subsequently furnish to the
other party in writing.

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