Document:

exv10w47

 

EXHIBIT 10.47

ADVANCED FIBRE COMMUNICATIONS, INC.

NOTICE OF GRANT OF STOCK OPTION

     Notice is hereby given of the following option grant (the “Option”) to
purchase shares of the Common Stock of Advanced Fibre Communications, Inc. (the
“Corporation”):

     OPTIONEE:                                                                                                                                            

     GRANT DATE:                                                                                                                                            

     VESTING COMMENCEMENT DATE:                                                                                                    

     EXERCISE PRICE: $                                                                                  per share

     NUMBER OF OPTION SHARES:                                                                                shares

     EXPIRATION DATE:                                                                                                                         

     TYPE OF OPTION:             Incentive Stock Option

                                   Non-Statutory Stock Option

EXERCISE SCHEDULE: The Option shall become exercisable with respect
to twenty five percent (25%) of the Option Shares upon Optionee’s
completion of one (1) year of Service measured from the Vesting
Commencement Date and shall become exercisable for the balance of the
Option Shares in thirty-six (36) successive equal monthly installments
upon Optionee’s completion of each additional month of Service over
the forty-eight (48) month period measured from the first anniversary
of the Vesting Commencement Date. In no event shall the Option become
exercisable for any additional Option Shares after Optionee’s
cessation of Service.

     Optionee understands and agrees that the Option is granted subject to
and in accordance with the terms of the Advanced Fibre Communications, Inc. 1996
Stock Incentive Plan (the “Plan”). Optionee further agrees to be bound by the
terms of the Plan and the terms of the Option as set forth in the Stock Option
Agreement attached hereto as Exhibit A.

 

 

     Optionee hereby acknowledges receipt of a copy of the official
prospectus for the Plan in the form attached hereto as Exhibit B. A copy of the
Plan is available upon request made to the Corporate Secretary at the
Corporation’s principal offices.

     NO EMPLOYMENT OR SERVICE CONTRACT. Nothing in this Notice or in the
attached Stock Option Agreement or in the Plan shall confer upon Optionee any
right to continue in Service for any period of specific duration or interfere
with or otherwise restrict in any way the rights of the Corporation (or any
Parent or Subsidiary employing or retaining Optionee) or of Optionee, which
rights are hereby expressly reserved by each, to terminate Optionee’s Service at
any time for any reason, with or without cause.

     DEFINITIONS. All capitalized terms in this Notice shall have the
meaning assigned to them in this Notice or in the attached Stock Option

Agreement.

DATED:                                        , 199     

	 	 	 	 	 	 	 
	 	 	ADVANCED FIBRE	 	 
	 	 	COMMUNICATIONS, INC.	 	 
	 
	 	 	 	 	 	 
	

	 	By:	 	 	 	 
	

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	

	 	Title:	 	 	 	 
	

	 	 	 	 	 	 

	 	 	 	 	 	 	 
	 	 	 	 	 
	 	 	OPTIONEE	 	 
	 
	 	 	 	 	 	 
	

	 	Address:	 	 	 	 
	

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	 	 	 

ATTACHMENTS

EXHIBIT A - STOCK OPTION AGREEMENT

EXHIBIT B - PLAN SUMMARY AND PROSPECTUS

2

 

EXHIBIT A

STOCK OPTION AGREEMENT

 

 

EXHIBIT B

PLAN SUMMARY AND PROSPECTUSexv10w48

 

EXHIBIT 10.48

INITIAL GRANT

ADVANCED FIBRE COMMUNICATIONS, INC.

NOTICE OF GRANT OF NON-EMPLOYEE DIRECTOR
AUTOMATIC STOCK OPTION

     Notice is hereby given of the following option grant (the “Option”) to
purchase shares of the Common Stock of Advanced Fibre Communications, Inc. (the
“Corporation”):

     OPTIONEE:                                                                                                                                            

     GRANT DATE:                                                                                                                                            

     EXERCISE PRICE: $                                                                                  per share

     NUMBER OF OPTION SHARES: 20,000 shares

     EXPIRATION DATE:                                                                                                                         

     TYPE OF OPTION: Non-Statutory Stock Option

     DATE EXERCISABLE: Immediately Exercisable

VESTING SCHEDULE: The Option Shares shall initially be unvested and
subject to repurchase by the Corporation at the Exercise Price paid
per share. Optionee shall acquire a vested interest in, and the
Corporation’s repurchase right shall accordingly lapse with respect
to, the Option Shares as follows: (i) one third of the Option Shares
upon the Optionee’s completion of one year of service as a member of
the Corporation’s Board of Directors (the “Board”) period measured
from the Grant Date and (ii) the balance of the Option Shares in a
series of twenty-four (24) successive equal monthly installments upon
the Optionee’s completion of each additional month of Board service
over the twenty-four (24)-month period measured from the first
anniversary of the Grant Date. In no event shall any additional
Option Shares vest after Optionee’s cessation of Board service.

     Optionee understands and agrees that the Option is granted subject to
and in accordance with the terms of the automatic option grant program under the
Advanced Fibre Communications, Inc. 1996 Stock Incentive Plan (the “Plan”).
Optionee further agrees to be bound by the terms of the Plan and the terms of
the Option as set forth in the Automatic Stock Option Agreement attached hereto
as Exhibit A.

 

 

     Optionee hereby acknowledges receipt of a copy of the official
prospectus for the Plan in the form attached hereto as Exhibit B. A copy of the
Plan is available upon request made to the Corporate Secretary at the
Corporation’s principal offices.

     REPURCHASE RIGHT. OPTIONEE HEREBY AGREES THAT ALL UNVESTED OPTION
SHARES ACQUIRED UPON THE EXERCISE OF THE OPTION SHALL NOT BE TRANSFERABLE AND SHALL BE SUBJECT TO
REPURCHASE BY THE CORPORATION, AT THE EXERCISE PRICE PAID PER SHARE, UPON OPTIONEE’S TERMINATION OF
SERVICE AS A MEMBER OF THE CORPORATION’S BOARD OF DIRECTORS. THE TERMS AND CONDITIONS OF SUCH
REPURCHASE RIGHT SHALL BE SPECIFIED IN A STOCK PURCHASE AGREEMENT, IN FORM AND SUBSTANCE
SATISFACTORY TO THE CORPORATION, EXECUTED BY OPTIONEE AT THE TIME OF THE OPTION EXERCISE.

     NO IMPAIRMENT OF RIGHTS. Nothing in this Notice or in the attached
Automatic Stock Option Agreement or the Plan shall interfere with or otherwise
restrict in any way the rights of the Corporation or the Corporation’s
stockholders to remove Optionee from the Board at any time in accordance with
the provisions of applicable law.

     DEFINITIONS. All capitalized terms in this Notice shall have the
meaning assigned to them in this Notice or in the attached Automatic Stock
Option Agreement.

DATED:                                        , 199

	 	 	 	 	 	 	 
	 	 	ADVANCED FIBRE COMMUNICATIONS, INC.	 	 
	 
	 	 	 	 	 	 
	

	 	By:	 	 	 	 
	

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	

	 	Title:	 	 	 	 
	

	 	 	 	 	 	 

	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	 	 	 
	 	 	                    OPTIONEE	 	 
	 
	 	 	 	 	 	 
	

	 	Address:	 	 	 	 
	

	 	 	 	 	 	 

ATTACHMENTS

EXHIBIT A - AUTOMATIC STOCK OPTION AGREEMENT

EXHIBIT B - PLAN SUMMARY AND PROSPECTUS

2.

 

EXHIBIT A

AUTOMATIC STOCK OPTION AGREEMENT

 

 

EXHIBIT B

PLAN SUMMARY AND PROSPECTUS

 

 

ANNUAL GRANT

ADVANCED FIBRE COMMUNICATIONS, INC.

NOTICE OF GRANT OF NON-EMPLOYEE DIRECTOR

AUTOMATIC STOCK OPTION

     Notice is hereby given of the following option grant (the “Option”) to
purchase shares of the Common Stock of Advanced Fibre Communications, Inc. (the
“Corporation”):

     OPTIONEE:                                                                                                                                            

     GRANT DATE:                                                                                                                                            

     EXERCISE PRICE: $                                                                                  per share

     NUMBER OF OPTION SHARES: 6,000 shares

     EXPIRATION DATE:                                                                                                                         

     TYPE OF OPTION: Non-Statutory Stock Option

     DATE EXERCISABLE: Immediately Exercisable

VESTING SCHEDULE: The Option Shares shall initially be unvested and
subject to repurchase by the Corporation at the Exercise Price paid
per share. Optionee shall acquire a vested interest in, and the
Corporation’s repurchase right shall accordingly lapse with respect
to, the Option Shares as follows: (i) one third of the Option Shares
upon the Optionee’s completion of one year of service as a member of
the Corporation’s Board of Directors (the “Board”) period measured
from the Grant Date and (ii) the balance of the Option Shares in a
series of twenty-four (24) successive equal monthly installments upon
the Optionee’s completion of each additional month of Board service
over the twenty-four (24)-month period measured from the first
anniversary of the Grant Date. In no event shall any additional
Option Shares vest after Optionee’s cessation of Board service.

     Optionee understands and agrees that the Option is granted subject to
and in accordance with the terms of the automatic option grant program under the
Advanced Fibre Communications, Inc. 1996 Stock Incentive Plan (the “Plan”).
Optionee further agrees to be bound by the terms of the Plan and the terms of
the Option as set forth in the Automatic Stock Option Agreement attached hereto
as Exhibit A.

 

 

     Optionee hereby acknowledges receipt of a copy of the official
prospectus for the Plan in the form attached hereto as Exhibit B. A copy of the
Plan is available upon request made to the Corporate Secretary at the
Corporation’s principal offices.

     REPURCHASE RIGHT. OPTIONEE HEREBY AGREES THAT ALL UNVESTED OPTION
SHARES ACQUIRED UPON THE EXERCISE OF THE OPTION SHALL NOT BE TRANSFERABLE AND SHALL BE SUBJECT TO
REPURCHASE BY THE CORPORATION, AT THE EXERCISE PRICE PAID PER SHARE, UPON OPTIONEE’S TERMINATION OF
SERVICE AS A MEMBER OF THE CORPORATION’S BOARD OF DIRECTORS. THE TERMS AND CONDITIONS OF SUCH
REPURCHASE RIGHT SHALL BE SPECIFIED IN A STOCK PURCHASE AGREEMENT, IN FORM AND SUBSTANCE
SATISFACTORY TO THE CORPORATION, EXECUTED BY OPTIONEE AT THE TIME OF THE OPTION EXERCISE.

     NO IMPAIRMENT OF RIGHTS. Nothing in this Notice or in the attached
Automatic Stock Option Agreement or the Plan shall interfere with or otherwise
restrict in any way the rights of the Corporation or the Corporation’s
stockholders to remove Optionee from the Board at any time in accordance with
the provisions of applicable law.

     DEFINITIONS. All capitalized terms in this Notice shall have the
meaning assigned to them in this Notice or in the attached Automatic Stock
Option Agreement.

DATED:                                        , 199     

	 	 	 	 	 	 	 
	 	 	ADVANCED FIBRE COMMUNICATIONS, INC.	 	 
	 
	 	 	 	 	 	 
	

	 	By:	 	 	 	 
	

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	

	 	Title:	 	 	 	 
	

	 	 	 	 	 	 

	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	 	 	 
	 	 	                    OPTIONEE	 	 
	 
	 	 	 	 	 	 
	

	 	Address:	 	 	 	 
	

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	 	 	 

ATTACHMENTS

EXHIBIT A - AUTOMATIC STOCK OPTION AGREEMENT

EXHIBIT B - PLAN SUMMARY AND PROSPECTUS

2.

 

EXHIBIT A

AUTOMATIC STOCK OPTION AGREEMENT

 

 

EXHIBIT B

PLAN SUMMARY AND PROSPECTUS

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